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TWO SECTIONS— SECTION TWO
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JiU M 1
i9 2 1
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t
t
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e
m
a
SECTION.
1
T O
S S 09
IN G L U 8 IY B .
GENERAL INDEX.
■ Pack ■
RAILROADS AS RELEASED FROM FEDERAL CON
TROL—TRANSPORTATION ACT OF 1920, &C STEAM RAILROADS
-
-
-
.
.
.
3-6
.
7-140
INDUSTRIAL AND MISCELLANEOUS COMPANIES
141-247
NEW TORE AND BROOKLYN BANKS -
-
-
248
NEW YORK AND BROOKLYN TRUST CO’S •
-
248
N. Y. AND BROOKLYN FIRE INSURANCE CO’S
-
INDEX TO COMPANIES CONSOLIDATED
-
- 249-251
W e
t h is
h a v e
no
e x t r a
c o p ie s
of
248
S e c t io n .
M a y 2 8 .1921
WILLIAM B- DANA COMPANY, PUBLISHERS,
F ront , P a n * D k ph y stk r S ts .,
nkw
York .
Copyright* in 1M1, according to A ctof Oongre*, by WILLIAM B. DANA COMPANY, in office of Librarian of OongraM, Watotagtn, D. Q.
Dillon, R ead & C o
Investment Securities
NEW YORK
CHICAGO
PHILADHPHIA
BOSTON
LOUDON
BR O W N B R O TH E R S & CO.
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& ChMtnut St*.
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ESTABLISHED 1818
« S to t. S*.
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and
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Investment Bonds
Letters of Credit
Deposit Accounts
Foreign Exchange
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1810
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FFALO
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OP
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EXCHANGE.
Securities.
Investment
Sigh-Grade Bonds and Guaranteed Stocks tor Sayings Banks, Institutions, Trust Estates
and Individual Investors
LIST
OF
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OFFERINGS
ii
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ON
APPLICATION
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COMMERCIAL TRUST BLDG.
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guidance
in¬
vestor*
is
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AND
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of
and
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INDUSTRIAL AND PUBLIC UTILITY SECURITIES
Cable Address
"Adconco"
Codes; Weetern Union
Diversified list of offerings furnished
on
application
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>
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V"
A. B. LEACH & CO., Inc.
Securities
Investment
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YORK
NEW
Street,
Cedar
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Salle Street, CHICAGO
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Philadelphia
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Detroit'
Minneapolis
St.Louis
Milwaukee
Cleveland
Boston
Hartford
Pittsburgh
We Finance
Enterprises, With
Electric Power and Light
Records of Established Earnings
We i;
Offer
Bankers and Investment Dealers
Proven Power
and Light Securities
Correspondence
Paid-up
71
Capital
own
pleased
to
request.
a
comprehensive list of oarefully seleoted
Mnnioipal,
we
Railroad
and
Pnbllo Utility
We shall be
reoommend for investment.
send
; -
Investment
for
and offer
Government,
Bonds whioh
and Surplus $24,500,000
Broadway, New York
Bonds
We
solicited
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to
Investors
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■:
SECTION
of the
Commercial
&
Financial Qhrqwicle.
Copyrighted In 1921 according to Act of Congress. by WILLIAM B. DANA
COMPANY. In office of Librarian of Congress.
Washington. D. O
Vol. 112.
NEW YORK, MAY 28,
Railway
Industrial
and
Section.
The Railway and Industrial Section, Issued twice a year on the last
Saturday of May and November, is furnished without extra charge to every
& Financial Chronicle.
of traffic
was about to slump.
Early in the year 1920 there was estimated to be a
deficiency in the United States of about 500,000 freight
cars; in December
there was a surplus amounting to about 200,000 cars and
in April 1921 this
had risen to 500,000 cars.—Compare V.
112, pp. 2044 to 2046, 1932, 1799.
1697 to 1699, 1562 to 1565, 1580, 1581, 1582.
George B. McGinty, Secretary of the Inter-State Commerce
Commission,
in a letter to Senator Willis of Ohio in
May 1920, said in part:
"It is not a question to-day whether or not the
rates shall produce 5K or
6% upon the value of the carriers' properties.
"More than one-half of the carriers are
earning less than their operating
expenses and taxes.
A very few individual roads are earning their
interestcharges.
Some of them are not even earning their
operating expenses .'"Mili
"It is obvious that the present condition cannot
long continue without"
general and widespread bankruptcy of the railroads.
"This whole subject is receiving the most
careful study.
The bareoperating expenses of the railroads consume more than 90 cents
The Railway
Earnings Section, issued monthly, containing the sworn
returns of earnings and expenses filed each month with the
Inter-State
Commerce Commission, is also furnished without extra charge to
every
annual Chronicle subscriber.
The Electric Railway Section, issued twice a
October, is likewise furnished without extra charge
year,
in April
and
to every Chronicle
'/■'
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r
The State and City Section, issued semi-annually on the last
Saturday
of June and December,
is also furnished without extra charge to every
subscriber.
?
subscriber
of the
Chronicle.
The Bank and Quotation Section, issued monthly, is likewise furnished
The Bankers'
subscriber of the Chronicle.
Convention
Section, issued yearly, giving the detailed
dollar earned and
Eroceedings of thewithout convention of the American subscribers.
also furnished
annual extra charge to Chronicle Bankers' Association,
in
i
for the Chronicle are sold
postage).
RAILROADS
AS
The
TRANSPORTATION
on
On March 1 1920 the railroads of the United States, which
Jan. 1 1918, as a war measure, had been taken over for
operation
as
one
system
by
the
United
States
their
owners.
to
Federal
control
proclamation issued
surrendered)^restored to
was
thus
terminated
pur¬
Dec. 24 1919 by the
President of the United States and subject to the terms of
the Transportation Act of 1920, approved by the President
on Feb. 28 1920.
The complete text of the Act was printed
in the "Chronicle" of Feb. 21 1920, pages 715 to 732 with
Amendment in V. 110, p. 2253.
On Sept. 1 1920 the Government guaranty of income which
was granted to assenting roads for the six months
following
the end of Federal control expired by limitation.
The Transportation Act of 1920 was designed to enable the
railroads as a whole to meet their financial problems caused
by the war and Federal operation, and to assist them in their
future financing by giving them a reasonable, though ex¬
tremely moderate, return on their investment.
The im¬
mediate effect was most disappointing owing to no fault in
the provisions of the aforesaid Act and the railroads were
therefore obliged to curtail their expenses drastically and to
seek a reduction in the wages of their employees.
In April 1921 the Railroad Labor Board ordered the
abolition on July 1 1921 of the "National Agreements"
which the railroad managers claim have cost the railroads
of the U. S. $300,000,000 per annum, but laid down 16
cardinal principles that must be maintained. (V. 112, p.
1580, 1581.)
a
on
On May 17 1921 the* Labor Board after prolonged hearings
decision that the exigencies of the situation
announced its
demanded
for
that
a
substantial decrease in railroad expenses, and
reason
they would
on
June 1 fix
a
new
and lower
scale of wages for unskilled labor; effective July
on June 6 would commence a series of hearings
1 and also
respecting
the reduction of wages for all other classes of railroad em¬
ployees.
While representatives of the locomotive engineers
and. switchmen expressed their unwillingness to listen to
any changes in either wages of labor conditions less favorable
than then existed, there was in May 1921 one first-class
railroad (the Detroit & Mackinac), all the employees of
which had accepted a 20% reduction in their pay and there
were numerous instances, especially among the shorter lines,
in which unskilled labor had accepted smaller compensation.
See decision of Board, &e., in "Chronicle" of May 21,
p. 2143 to 2150.
The sum total of railroad operating expenses and taxes rose from $3,043,000 000 in 1917 to $6,047,000,000 in 1920 of which the greatest increase wa
in labor cost
The expansion in wages in the four years reached $1,866,,-
ROADS DECLINING
MONTHS.—Railroad
companies
SIX MONTHS' GUARANTY
(Inserted by Edltorj,
New York
Chicago & St. Louis
Alabama Great Southern
Atlanta & West Point
Atlantic City RR. Co.
Northwestern Pacific
Pere
Bessemer & Lake Erie
Carolina Clinchfield & Ohio
Cine. New Orleans & Texas Pacific
Duluth & Iron Range
Duluth Missabe & Northern
Elgin Joliet & Eastern
Long Island
Railroad
Administration were, in so far as still under its control (the
short lines having previously been
suant
following outlines the Transportation Act of 1920:
GUARANTEED INCOME FOR SIX
TO
PRIVATE CONTROLACT OF 1920.
be established between the dollar
earned and
dgnifying by March 15 1920 their acceptance of such
guaranty shall be
guaranteed by the United States Government for the first six
months ending
Sept. 1 1920 following the termination of Federal
control, sums at the
lame rate as their compensation
during that control.
B. DANA COMPANY. Publishers.
Front, Pine and Depeyster Streets. New York.
RESTORED
can
the future."
at
CHICAGO OFFICE.—19 South La Salle Street, Tlelephone State 5594.
LONDON OFFICE.—Edwards & Smith. 1 Drapers' Gardens. E.C.
WILLIAM
wider margin
a
substantially improve.
through appropriate readjustment of
operating expenses, the adoption of every possible and reasonable
economy
and general revival in business.
We are not hopeless nor
pessimistic as to
$1 00 each
(which Includes
File covers for Supplements can be had at same price.
covers
out of every
than 60 cents out of
every dollar earned is paid out-
the cost of earning it, conditions cannot
"This result must be brought about
in Europe, and $11 50 in Canada.
NOTICE.—On account of the fluctuations in the rates of
exchange
remittances for European subscriptions and advertisements must
be made in New York funds.
File
more
compensation to employees.
"Until
Terms for the Chronicle .including the six Supplements above named,
Tea Dollars per annum within
the United States;
$13 50
(which
are
Includes postage)
No. 2918
000,000 and the increase granted by the Labor Board in
1920, amounting,
it is believed, to about $720,000,000
($100,000,000 above the original'
estimate) was made retroactive to May 1 1920, while the
concurrent and
apparently generous advance in rates did not take place till
Aug. 26 1920
(or later in the case of many Intra-State rates) just as the volume
annual subscriber of the Commercial
without extra charge to every
1921.
Louisiana &
Marquette
Perkiomen Railroad Co.
Port Reading
Rich. Frederick.
\
& Potomac
RR„
St. Louis Southwestern
Ry. Co.
St. L. Southwestern
Southern
Ry. of Texas
Railway
Arkansas
New Orleans & Northeastern
Western Railway of Alabama
RATES MUST BE ADJUSTED SO AS TO
YIELD A FAIR
—Rates shall be adjusted from time to time so
that the carriers
as a whole In each rate
group or
or
and
earn
economical
an
annual
RETTTlTlSf
as a whole'
territory, will, under honest, efficient
maintenance expenditures
railway operating income, as
nearly as may be to a
management
net
i
West Jersey & Seashore
Western Pacific
and
reasonable
fair return upon the aggregate value of the
property of such carriers held
for or used in the service of transportation.
*
To this end the Commission
pending the completion of its valuation of
the railway properties in the United
States, is required to make tentative
valuations of the several roads as a basis for
rate
making
[The U 8. Supreme Court on March 2 1920 held in the
case of the Kansas
City Southern RR. that present value of right of
way and terminal must
be considered in rate making.
V. 110, p. 1046.]
See also: (a) Railroad rate
decision, &c., V. Ill, p. 551; V. 110 d 2351
2352.
(6) Preliminary valuations of fifty roads in V.
Ill
p.
18137
(c) Necessary deductions from such valuation for
depreciation. '^Railway
Review" of Chicago for Oct. 30, p. 676 to
678.
(d) Article on Valuation
p. 6 of this Section for May 1920.—[Ed.]
.
RETURN
ON
CAPITAL FOR FIRST TWO
YEARS.—During the
1920 the Commission shall
adopt 544% as a
the actual value of railroad
properties and at its discretion
may add a sum not to exceed a total of
H % for
two years
beginning March 1
fair return
or
on
equipment chargeable to capital account.
SPECIAL
PROVISION IN CASE OF
PREVIOUSLY
ENTITLED
TO
ANY
half-year ending Sept.
carrier, whetuer
or
not
1
Improvements, betterment®
SHORT
LINES,
&c.,
NOT
COMPENSATION.—IW
the
1920 Section 68 provides "with
respect to any
entitled to just compensation under the
Federal Con»
trol Act. with which such
contract has not been made, and for
which no
estimate of just compensation is made
by the President" and which In the
test
period sustained
shall be
a
a
deficit
In railway
operating income,
that*there
a guaranty by the U. S. of the amount
by which the deficit for the
guaranty period as a whole exceeds one-half its
average annual deficit tot
the test period, plus an amount equal to one-half
the annual sum fixed
by the President under Section 4 of the Federal Control Act as interest
on additions and betterments made
by his order or with his approval during
the period of Federal control.
[Compare V. Ill, p.
954.]
With respect to a carrier not entitled to
just compensation under
Federal Control Act, which for the test
period as a whole had an
annual
the
average
railway operating Income, the conference bill
provides a that the
guaranty shall be not less than pne-half the average annual
railway operating
income of such carrier during the test period.
DISTRIBUTION OF EARNINGS IN EXCESS OF
6%.—Net railway
operating Income in any year in excess of 6% of the value of the
property
shall be utilized as follows:
(a) One-half of such excess shall be
placed in
a Reserve Fund maintained
by the railroad; (b) the remaining one-half shall
go into a General Railroad Contingent Fund for use as follows:
(а) CARRIERS'
RESERVE
FUND.—A railroad
may
draw from
its Reserve Fund, created as above stated
(a) for the purpose of paying
dividends or Interest on its stock, bonds or other
securities, or for rent foi
leased roads to the extent that its net
railway operating income In
any
year is less than 6% of the actual value of the railroad's
property, and (6)
after the Reserve Fund has been accumulated to the
extent of 5% of
value of its property for any lawful
purpose.
the
(б)
GENERAL RAILROAD CONTINGENT FUND.—Loans
bearing
Interest at 6% per annum to be made to railroads from
general railroad
contingent fund when applications therefor are approved by the Commis¬
sion.
The terms and the security for such loans to be
prescribed by the
Commission.
REFUNDING OF CARRIERS' INDEBTEDNESS TO THE UNITED
STATES.—The net indebtedness of each carrier to the United States for
additions
at
or betterments may be funded for a
period of ten years (or less
option of company) from the termination of Federal control with interest.
RAILWAY AND
at
6%
subject to the right of the carrier to anticipate the
or anv part of the indebtedness.
Any remaining
to be evidenced by 6% notes running one year or less.
per annum,
ment of the
u. 8.
to
whole
pay¬
debt
™£j?rNSP£ID£TI0N of RAILROAD PROPERTIES—STOCK CON
rROL, AO.—-The
Inter-State Commerce Commission
Is directed to
of railroad properties Into
consolidations are authorized
and adopt a plan for the consolidation
limited number of competing systems, and
prepare
a
harmony with the plan so
when in
adopted and approved
by the Commls-
(Compare Mr. Hines's recommendation V. 110, p. 134 and see
JN.Y..N. H.&H. RR.inV. lll.p. 1950.)
The Commission shall also pass on any proposed measures
•of one road by another by consolidation, lease, stock ownership or
wise.
In any consolidation the total amount of outstanding stock
*bonds of the consolidating company shall not exceed the value of the con•tsolidated properties as determined by the Commission.
/aon-
for the control
other¬
and
,
(1) Obligations
FEDERAL
of such terminals as in its opinion
the public interest.
REVOLVING
FUND.—a revolving
will best meet the
fund amounting to
after the passage
Commission, secure
to properly serve
1920 the time mentioned
V. 110, p. 2041,
therefrom are covered
authorized on account
fixed charges and
A further fund of $2o0,000,0001» appropriated for the financial settlement
of matte
arising out of Federal control.
[An additional deficiency appro¬
priation of $390,000,000 was made May 8 1920 in connection with the
winding up of Federal control.
V. 110, p. 1492, 2041.]
INTER-STATE
COMMERCE COMMISSION MAY INITIATE
RATES.—In the exercise of Its power to prescribe just and reasonable
rates, the Commission can initiate as well as modify and establish rates.
CONTROL OVER SECURITY ISSUES.—The Inter-State Commerce
Commission is given exclusive control over the issuance of all railroad
securities, except notes maturing in less than two years when the total issues
of said notes of the railroad amounts to less than 5% of its capitalization.
[See regulations as to issuance of new securities, etc., V. Ill, p. 1814,
1049, 587.]
LABOR BOARDS TO ARBITRATE DISPUTES BETWEEN WAGEEARNERS AND EMPLOYERS.—The law authorizes a system of labor
boards of adjustment to be established by employers and employees.
A
central railroad labor board of appeal is created with power to hear disputes
,
6XP6Q86S
s
investigations.
The members of this board, three of whom are to
railroad managers, and three the public, to be appointed by the
and confirmed by the Senate.
There are no penal provisions
enforcement of the decisions of this board.
represent labor, three
President
for the
,
COMMERCE COMMISSION MEMBERSHIP.—
Commission is enlarged to 11 members. [See names below.]
Explanations by Senator Cummins.
INTER-STATE
The
Explaining the required rate adjustment of the first two years
Act, Senator Cummins said (V. 110, p. 820):
"Section 15A is not a guaranty and does not approach a
under the
guaranty even
remotely.
:
Not a dollar is to be paid from
and no obligation whatever
of its provisions
the U. S. Treasury on account
on the part of the Government
11
'r
administrative tribunal that, in so far as may be
practicable, the Commission shall make rates that will yield a net operating
income of 5H% upon the true value of the railway property held for and
used in the service of transportation, considered as a whole.
The assump¬
tion of this basis by the commission does not promise to any given railwaj
company any given net operating income, for the income depends wholly
upon the location of the railway, the population it serves, the volume of ite
traffic and the conditions under which it is reported.,
"Under this basis some railways will earn 2%. some 4, some 6, some 8
and a few more than 8% and a few less than 2%.
This basis takes no
account of either stocks or bonds, but is concerned solely with the value
of the property as a whole.
Its basis is about $50,000,000 less in the
aggregate than the basis of 1917 arid about $50,000,000 more in the aggre¬
gate than the basis of the test period as defined in the Federal Control Act-
"J 9
"It is a direction
to an
Federal
Control—Standard Return.
proclamation of President Wilson assuming
1917.
See V. 105, p. 2509: V. 106.
The
dated Dec. 26
control of the roads was
35; V. 108, p. 2081.
p.
28 1921, under Sec. 7
Maine RR...
.
$80,026,500 Acquired by U. S. Pursuant
Transportation Act of 1920.
(2) Obligations of
to Sec. 207 of
Chicago Milwaukee & St. Paul Railway Co..
New York New Haven & Hartford Railroad Co
$20,000,000
60,026,500
following tables we have the
payments (loans, ad¬
In the
payments on account of guaranty, &c.) which had
been made by the U. S. Treasury Department to May 9
1921 under Sections 204, 209, 210 and 212 of the Transpor¬
tation Act of 1920 (advances by the Director-General on
account of Federal compensation during the 26 months of
Federal control or otherwise are not here included.—Ed.):
vances,
$300,000,000 is created.
Carriers may within two years
of this Act, after hearing before Inter-State Commerce
loans for not exceeding five years at 0% to enable them
the public during the transition period.
(In May
was extended from 5 to 15 years, with other provisions.
2156 2250: V. Ill, p. 145. 261 460, 750. 1230,)
The revolving fund and the matter of making loans
by Sec. 210 of the Act.
Under Sec. 209 advances are
of accrued compensation fo rthe purpose of meeting
and initiate
of $67,047,250 Acquired by U. S. to Feb.
of Federal Control Act of 1918.
the
$52,000
$26,695,000 Receiver M.K.AT.Ry.of Tex.
6,500,000
Chicago Junction Ry
...
200,000 New York Central RR
N. Y. N. H. A H. RR
3,000,000
Chicago T. H. A S. E. Ry__
50,250
20,000,000
Erie Railroad
3,000,000 Pennsylvania RR
500,000
Hudson & Manhattan RR..
1,000,000 Pittsburgh A Lake Erie RR.
1,850,000
Receiver Int. Grt. Nor. Ry.
1,400,000 Seaboard Air Line RR
Locomotive Superheater Co.
2,000,000 Washington Brandywine A
Point Lookout RR
50,000
MInneap. & St. Louis RR__
750,000
Boston A
TERMINALS.—The Inter-State Commerce Commis¬
sion whenever in its Opinion there exists an emergency may require such
^joint or common use of terminals, including main-line tracks for a reason¬
•amergen'y and serve
refund outstanding notes, and for
aid in financing its reorganization.
the first instance to
Boston & Maine to
JOINT USE OF
able distance outside
[VOL. 112.
INDUSTRIAL SECTION
Total Payments by U. S. Under Sections 204 , 209, 210 ana 212
portation Act of 1920, Aggregating $598,386,353 to May 17
(1)
(а)—(Sec. 204)—For reimbursement
of deficits during
control
(б)—(Sec. 209)—(aa) To
ment of the
Norfolk Southern RR. as
Federal
full pay¬
guaranty
of Trans¬
1921,
$1,118,500
1,311,701
For advances on account of guaranty in order to meet
charges and operating expenses under paragraphs
(h) and (i)
(c)—Sec. 212; (V.112, p. 803)—(aa) For partial payments in
respect to the guaranty provided in Section 209
(55)
fixed
263,235,874
137,031,290
(65) For partial reimbursement of deficits during Federal
control, provided in Section 204.
510,500
(d) Under Section 210, for loans from the revolving fund of
$300,000,000 therein provided
195,178,487
[Final settlements made by the Director-General with various roads
In 1921 were mentioned under U. S. RR. Administration in V. 112, p. 163,
1145, 1979.)
471,
(2)
Obligations of
Pursuant
to
$195,178,487 Acquired by TJ.
& Nor. RR_„
Vicksburg Ry
Alabama Tenn.
Alabama &
Ann Arbor
RR
& Atlantic Ry.
Ohio RR
Aroostook RR....
Atlanta Birm.
Baltimore &
Bangor &
Boston &
Maine RR
Buff. Roch. &
....
Pittsb. Ry...
Clinchf. A Ohio Ry_
Central of Georgia Ry
Central New England Ry
Carolina
$90,000
1,394,000
x650,000
200,000
3,000,000
200,000
11,656,479
1,000,000
3,000,000
237,900
300,000
Chesapeake A Ohio Ry
Chicago Great
Western RR.
A Louisv. Ry..
Chicago Milw. A St. P. Ry..
Chicago R. I. A Pacific Ry..
Chicago A Western Ind. RR.
Chicago Ind.
Erie Railroad
Fen wood
S. Govt, to May 17 1921,
for Loans
Sec. 210 of Transportation Act of 1920,
from $300,000,000 Revolving Fund.
Columbia AGulf..
3,759,000
2,445,373
200,000
25.340,000
9,862,000
8,000.000
8,2!0,000
33,000
7,250
200,000
156,000
Great Northern Ry
17,910,000
Gulf Mobile A Nor. RR
515,000
Hocking Valley Ry.
1,053,000
Illinois Central RR
4,440,000
Indiana Harbor Belt RR
579,000
Receiver K.C. Mex.AOr.RR.
2.500.000
RR.
Ft. Dodge Des Moines A Sou.
Receiver Ft. Smith A W. RR.
Flemingsburg A Northern
„
RR
719,000
Bdge. A RR..
162,000
RR
1,973,000
Minneapolis A St. Louis RR.
1,382,000
Missouri Pacific RR
10,071,760
National Ry. Service Corp..
5,253,100
New Orl. Texas A Mex. Ry._
234,000
New York Central RR.
26,775,000
N. Y. N. H. A H. RR
8,130,000
Norfolk A Southern RR
111,000
Northern Pacific Ry
6,000,000
Pennsylvania RR
6,780,000
Peoria A Pekin Union Ry...
1,799,000
Rutland Railroad
...
61,000
Salt Lake A Utah RR
....
300,000
Seaboard Air Line Ry
7./46.900
Shearwood Railway Co
29,000
Tampa Northern RR
100,000
Terminal RR. Assoc. of St. L.
896,925
Trans-Mississippi Term. RR.
1,000,000
Virginian Railway...
2,000,000
Virginia Blue Ridge Ry
106,000
Virginia Southern RR..
38,000
Waterloo C. F. A North. Ry. xl,320,000
Western Maryland Ry
2,422,800
Wheeling A Lake Erie Ry
2,700,000
Wilm. Brunsw. A Sou. RR..
90,000
Long Island
Louisv. A Jeff.
Maine Centra)
Waterloo Cedar
disbursements
x Repayments as follows: Ann Arbor RR. Co., $20,000;
Ry. Co.. $60,000.
Note.—The payments above mentioned are in addition to
made to carriers by the Director-General of Railroads.
Falls & Northern
CONTROL—RENTAL PAY¬
Government executed, with
found in V. 107, p. 1157, 956.
The Act of Congress approved March 21 1918 (cited in V 106, p. 1421)
EQUIPMENT TRUST AGREEMENTS EXECUTED BY
authorized the President
to agree with and to guarantee" to any carrier
THE DIRECTOR-GENERAL AND LEADING
"that during the period of such Federal control it shall receive as just com¬
pensation an annual sum (herein called standard return), for each year
RAILROADS APPROXIMATE $360,000,000.
not exceeding a sum equivalent as nearly as may be to its average
annual railway operating income for the three years ended June 30 1917."
Equipment trust agreements were executed early in 1920
In a few cases for special reasons extra compensation was granted. Disputes,
however, arose ana when Federal control was terminated Feb. 29 1920 there
by the Director-General of Railroads, some 80 leading
still remained a number of roads concerning which the question of compensa¬
railroad companies and the Guaranty Trust Co. of New
tion, whether the standard return or a larger sum, was still to be determined.
Out of the aforesaid compensation as supplemented by the company's
York as trustee, covering approximately $360,000,000 worth
non-operating income, including interest and dividends on any bonds or
of new rolling stock, built and building.
This rolling stock
stock owned, and other outside items each company was required to pay all
was ordered by the United States Railroad Administration
Federal (war) taxes, interest and other fixed charges, and also any dividends
allowed on their capital stock.
during the period of Federal control of railroads and has
A list of the compensation contracts finally executed up to Sept. 151920
been allocated to the railroad companies named below and
will be found, with the amounts of the compensation agreed upon, on pages
6, 7 and 252 of the issue of this Section for Nov. 27 1920.
accepted by them. (Compare V. 109, p. 1668. 1955 , 2406.)
A special article showing the Standard Return and also the net Fed¬
The notes, while issuable from time to time as equipment is delivered to
eral income of the several Class 1 roads (those earning over $1,000,000
the roads, are all dated Jan. 15 1920. payable both principal and Interest, in
gross per annum) in the years 1918 and 1919 will be found on page 14 of the
gold of present standard.
Each issue will mature in fifteen equal install¬
"Railway Earnings Section" issued on May 22 1920.
ments on Jan. 15 in each year, 1921 to 1935. both inclusive, and will bear
United States Railroad Administration.
interest at 6% per annum, payable semi-annually. July 15 and Jan. 15 at
Director-General of Railroads James C. Davis (effective March 28 1921);
the office of the trustee In New York City.
They will be subject to re¬
Assistant to .the Director-General, E. M. Alvord.
Finance Committee: demption at the option of the maker prior to maturity at 103 and interest
John Skelton Williams, Chairman; Franklin Q. Brown, Frederick W.
any interest date after 60 days' notice, but only as entire issues.
Scott.
Division of Finance: D. C. Porteous; Ralph Blaisdell, Treasurer
In one respect these note issues are unique.
In order that
Advisory on Accounting, Charles A. Prouty.
Headquarters, Inter-State
Commerce Bldg., 18th and Pennsylvania Ave., N. W., Washington, D. C.
the Government may be in a position to realize on at least
some portion of the notes whenever money conditions are
favorable, it is provided that such part of any issue as ma¬
LOANS, ETC., MADE BY FEDERAL AUTHORITIES tures after 1930 may be stamped at the request of the holder
UNDER CONTROL ACT AND ACT OF 1920.
CONTRACTS FOR GOVERNMENT
MENTS.—The form of contract which the
slight variations, with the railroads, will be
.
.
.
on
[the Government or any
President adding
Section 212 to the Transportation Act of 1920.
This new
section (given in V. 112, p. 803) authorized the Secretary of
the Treasury to make advance payments on account of the
Government guaranty of net railway operating income for
the half-year ended Aug. 31 1920, thus relieving a shortage
of funds which to many roads had become quite serious.
The following table shows (1) the securities acquired by the
U. S. Treasury prior to Feb. 28 1921 under Section 7 of the
Federal Control Act of 1918, to. provide funds "requisite for
maturing obligations or other legal and proper expenditures
of the several railroads"; (2) the obligations acquired by the
U. S. Treasury pursuant to Sec. 207 of the Transportation
Act of 1920, representing indebtedness to the Government
incurred during Federal control for additions, improvements,
or otherwise—in the case of the N. Y. N. H. & H. largely in
On Feb. 26 1921 a
bill was signed by the
financing corporation to which it
indicate
principal
to 1930,
thus making the latter the more readily saleable.
assign the same] with the following words to
that they will rank subordinate as to the payment of
and interest to the unstamped notes due from 1921
may
inclusive,
which May be Stamped on Nous Maturing After
received and as an inducement to purchasers of
Statement
For
value
and, as
In
provided.—
and priority to
preference
_
1930.
unstamped
_
of any moneys received
Equipment Trust Agreement- upon
in case of a default o* tLe carrier.
that such payment- as to the unstamped
such notes and the coupons thereon
on overdue interest without preference between the unstamped
the stamped notes out
collected by the trustee under said
enforcement of its rights or remedies
[The trust deed further provides
notes shall be made pro rata on all
or
with interest
principal and interest.—Ed.l
explanation the trust agreements say:
The purpose of this Article 11 is to make suitable provision enabling the
holder of holders of said notes to Induce purchases of unstamped notes by
notes or as
"~By
between
way
of
\
May, 1921.]
making the
RAILWAY AND INDUSTRIAL SECTION
payable as aforesaid in preference and priority to stamped
notes out of any moneys received or collected by the trustee
upon enforce¬
ment of its rights or remedies in case of a default of the carrier.
The
same
stamping of
such notes shall operate
as an agreement binding upon
notes and
upon the trustee; but neither the stamping
anything in this Article 11 contained shall in any wise
affect the carrier or impair or affect any obligation of the carrier or
any
right, title or remedy of the trustee under any of the provisions of this
agreement or the liability of the carrier upon any of said notes, whether
tamped or uns tamped, or upon any of the coupons for interest thereon.
any
the holders of said
of such
notes
not
A table showing the maximum and minimum amounts of
equipment trusts authorized to be created by the several
roads under this arrangement was given in this Section for
Nov. 27 1920.
The following shows the $310,079,500 thereof
acquired by the Director-General to Feb. 28 1921:
In May 1921 the RR. Labor Board after
protracted hear¬
ings, having previously ordered the abolition on July 1 1921
of the expensive "national agreements" which as established
during Federal operation required national instead of cor¬
porate control of labor conditions, announced its intention
to reduce on July 1 the wages of unskilled workers
by an
amount to be announced June 1 and also to
begin hearings
on June 6
regarding proposals to cut all other railroad wages
as of
July 1.
The increase granted
annual
wages
as
In July 1920 enabled employees to make average
compared with previous periods:
July '20, Jan. '20
1919.
1917.
1915.
follows,
Basts.
Basis.
Avge.
Avge.
Avge.
$1,700
Passenger locomotive engineers.. 3.478
Passenger conductors
3,119
Passenger brakemen
2.240
$1,410
3,129
2,730
1,816
$1,349
2,873
2,542
\ 1.703
$932
2,232
1,966
.1,093
$832
2,141
1,850
1,026
,
Equipment Trust 6% Gold Notes Acquired by Director-General of Railroads
to Feb. 28 1921 Persuant to Federal Control Act of 191
733,600
Kanawha A Michigan Ry
Kansas City Southern Ry
Atlanta Birm. & Atlantic Ry.
6,865,600
958,500
Kansas City Terminal Ry
Lake Erie A Western RR
Atlantic Coast Line RR
5,954,200
Louisville A
Ala.
Great Southern
$154,000
RR
Ann Arbor RR
Atch. Topeka & S. Fe Ry_.
1954,800
890,400
175,000
597,800
Nashville RR—
Maine Central RR
Atlantic Coast Line RR. and
Michigan Central RR.......
Louisville & Nashville RR.,
1,104,600
16,406,600
Boston & Maine RR
4,974,200
Buff. Roch. & Pittsb. Ry
1,870,400
Carolina Clinchf. & Ohio Ry.
5,640,600
Central RR. Co. of N. J
3,262,000
joint lessees of Georgia RR.
Baltimore & Ohio RR_
-
Minneap. A St. Louis RR—
Mo.
Kan.
A
Texas Ry
Missouri Pacific RR
Mobile A
Ohio
RR
Monongahela Railway
—
—
M organ town A Klngwood RR.
Nash.
Chesapeake & Ohio Ry..
Chicago & Alton RR
10,458,000
Chatt. A St. L. Ry-.
New York Central RR.:
1,695,400
N. Y. N. H. A Hartford RR.
Chic. Burl. & Quincy RR
5,656,000
Norfolk Southern RR...
763,000
Charleston & W. Caro. Ry__
Chicago & Eastern 111. RR._
691,600
Chicago
Chicago
Chicago
Chicago
Chicago
Chicago
Chicago
Chicago
Ind. & Louisv. Ry_
970,200
Northwestern Pacific RR
Great Western RR_
607.600
Pennsylvania
Junction Ry
446.(00
Pere Marquette Ry
15,348,200
9,308,600
7,576,100
Mliw. & St. Paul Ry.
& North West. Ry_
R. I. & Pacific Ry.
St. P. M. & O. Ry.
& West. Ind. RR-.
2,195,200
Cin. N. O. & Tex. Pac. Ry.
893,200
260,400
C. C. C. & St. Louis Ry
Colorado A Southern Ry
4,788,000
980,000
Delaware A Hudson Co
contrasting with an average of 1,732,000 employees in 1917 and totalannual
compensation of $1,739,482,142; increase in aggregate compensation 118%
—"Chronicle," V. 112, p. 1105, 436; "Ry. Age," Feb. 25, p. 468,469.
In
May 1921 the total number of railroad emoloyees, it was understood, had
been reduced from 2,150,000 as in Sept. 1920 to about 1,750,000, or
approxi¬
mately the number at work when the Govt, took over the roads.
567,000
460,600
2,338,000
1,211,000
12,762,400
4,019,400
48,544,000
8,519,000
Pittsburgh A Lake Erie RR—
543,200
2,613,800
918,400
Railroad
Seaboard Air Line Ry
Southern Pacific Co..
Southern Railway
345,800
—.
...
1,540,000
2,626,400
9.606,800
Spokane Port. A 8eattie Ry.
820.400
3,651,200
St. Louis-San Francisco Ry—
817,500
Terminal RR. Assoc. of St. L.
City Ry.
467,600
4,201,400
240,800
Grand Trunk Ry. of Canada.
838,600
)
Erie Railroad
Ft. Worth A Denver
Toledo A Ohio Central Ry...
Toledo St. L. A Western RR.
Virginian Railway
2,825,200
Wabash
Great Northern Ry
4,008,200
Washington Southern Ry
Hocking Valley Ry
2,623,600
Washington Terminal Co
Illinois Central RR
8,509,200
Western Maryland Ry
Grand Trunk Western Ry
550,200
Indiana Harbor Belt RR
Railroad
Wheeling A Lake Erie Ry
NATIONAL RAILWAY SERVICE CORP.
EQUIP.
1,521,800
10,381.000
393,400
88,200
799,400
4,281,200
—
labor costs
by the Adamson Law in 1916, the labor costs have been
increased by Government action by a total of—
$2,229,639,957
Making the total labor cost for 1920 (excl. terminal cos.)___ 3,698,216,351'
Before the Government took charge labor costs amounted to. 1,468,576,394
The figures given are
RR. Securities (S.
Davies Warfield of Baltimore, President)
co-operate with the Inter-State Commerce Commission
In assisting the railroads of the country to finance their
to
needs for
new rolling stock, as permitted by the amendment
Transportation Act of 1920. (Compare V. Ill, p.
458).
In accordance with said amendment the Commission
voted on May 21 1920 a loan qf at least $125,000,000 out of
the $300,000,000 Revolving Fund for new equip, purposes,
but to May 9 1921 only $5,200,000 (see foregoing table) had
to
the
been obtained
this
from
In October 1920 it
was
source.
announced that arrangements were
being completed for the issue of $60 000,000 trust certificates.
were described by President Warfield sub¬
stantially as follows (compare V. Ill, p. 1661, 458, 493):
The certificates
Description.—The initial certificates
were
issued in two series, not to
exceed $30,000,000 each, maturing in 15 years in 30 semi-annual payments.
Seven railroads or systems (see below) were to be included.
Class of Certificates.—The Certificates of each series are divided into
(a) Prior Lien and (b) Deferred Lien Certificates.
[Compare separate article
headed
"Equipment Trust Agreements'
below.]
are prior in lien, bear int. at rate of 7% and
by life insurance companies and investment institutions to
60% of the present issue of each series.
Deferred Lien Certificates to the extent of 40% bearing int. at 6% will
be issued to secure the Government loans to the Service Corporation as the
The Prior Lien Certificates
will be
taken
the extent of
terms to each carrier are approved by the I.-S. C. Commission.
Security, &c.—The Deferred Lien Certificates are deferred both as to
principal and interest to the Prior Lien Certificates in the hands of investors.
A contingent fund and a sinking fund are provided under the trust agree¬
ments, which, with the carrier contracts are to be administered by the
Corporation and the corporate trustees.
As additional security to the
Certificates, each carrier deposits with the trustee its notes for the purchase
or rental of the equipment.
Railroads Included in Present Series.—'The carriers included or originally
expected to be included in one or the other of the initial series were:
Baltimore & Ohio
RR.
Chicago Rock Island & Pacific Ry.
Bangor & Aroostook Ry.
Minn. & St. Louis RR.
Wheeling & Lake Erie Ry.
Gulf Coast Lines (tentative).
Cincinnati Indianapolis & Western
RR. (tentative).
[In July 1920 it was reported the Baltimore & Ohio would participate to
Minneapolis & St. Louis
the extent of $14,000,000; the Rock Island and the
Ry., $11,000,000; the Bangor & Aroostook, $150,000.]
Corporation.—A public corporation, operated
without profit.
The
entire capital stock, which is nominal, has been subscribed by the National
Association of Owners of RR. Securities and will be deposited with the
Secretary of the Treasury.
RAILROAD
WAGES.
actual.
in force only a part of that year.
Chairman of So. Pac. V. 112, p.
The increase made in 1920, however, was
(From statement by Julius Kruttschnitt,
2044 to 2046 and 2143 to 2147.)
Where the Railroad Dollar Went to in 1916 and 1920—Cents per Dollar.
[As
compiled
by
Bureau
of
In 1920.
Fuel
0.2
Injuries to persons
....
....
RAILROAD
Railroad
In 1920.
4.5
4.4
In 1916.
Deprec. & retire
2.4
7.0 Materials, supplies &
uncollectible
17.3
0.9
0.8 Hire of equip't and
0.3
joint facility rents.
1.0
10.9
2.0
0.8
Loss and damage
Insurance
Economics.]
40.8
(locomotive)
Taxes
Railway
In 1916.
59.9
Labor
TRUSTS
This company was incorporated in Maryland July 29 1920
at the instance of the National Association of Owners of
compensation of the
So that since the Government took charge of the
2,233,000
2,003,400
1,051,400
1916 Under Federal Action.
the Adamson Law became effective, the aggre¬
employees of the carriers of
Class 1 was increased over 1916 by—_
$270,905,74$
This was increased by the Railroad Administration in 1918—
874,331,209
And was further increased by the RR. Admin, in 1919 by__..
229,315,081
And was further increased by the Railroad Labor Board in
1920
.>;■ 855,087,919
gate
294,000
Detroit A Tol. Sh. Line RR-
Which Labor Costs Increased After
Manner in
In 1917 when
13,094,200
Detroit Tol. A Iron ton RR—
Texas A Pacific Ry..
Wages of Raihoad Employees.—Detailed tables prepared by
Economics show the number of railroad employees in
of Ry.
Bureau
1,122,800
4,776.800
1,388,000
1,177,400
9,549,400
Pittsb. McK. A Yough. RR.
Rich. Fred. A Potomac RR.
Rutland
Number and
the
U. S. in Aug. 1920 as 2,200,000. with wages at annual rates of $3,800,000,000
6,426,000
253,400
RR
Clerks..—.
9,770,600
123,200
Norfolk A Western Ry
5
...
Return
on
RATES—INCREASE
increases which,
investment
1.0
IN JULY
3.5
12.5
1.1
28.9"
1920.
estimated, would
yield the carriers about $1,600,000,000 additional revenue
per
year,
were
granted by the Inter-State Commerce
Commission under date of July 29 1920.
The Commission placed a valuation of $18,900,000,000
upon the railroad properties, against a book value of $20,040,572,611, and undertook to allow 6% upon upon the
property investment, which would mean a total of $1,134,000,000, with which to cover the increased cost of wages
and supplies and to pay for improvements, &c. (compare
V. Ill, p. 653, 549, 459, 347 to 350, 329.)
A heavy falling
off, however, in traffic beginning about Oct. 1 1920, and the
rapidly mounting costs of labor and also of coal and all other
supplies upset all calculations as to the effect of this increase
in rates and, as stated on a preceding page, made necessary
the readjustment of wages which was pending in May 1921.
The decision of July 1920 increased: (a) Freight Rates—
40% in the East, 25% in the South, 35% in the West
and 25% in the Mountain-Pacific territory,
(b) Passenger
Rates—20%, the amount asked by the railroads, or about
Yi of 1 cent additional per mile,
(c) Pullman Rates—A sur¬
charge to the roads of 50% on rates,
(d) Excess Baggage
Rates—20%
advance,
(e) Milk
Tariffs—20% advance.
(f) Coastwise and inland steamship lines and electric rail¬
way companies may increase their freight rates in proportion
to the increases of the RRs. in the same territory.
(V..111,
rate
it
was
848.)
p.
The Inter-State rates went into effect on Aug. 26
wages
1920.
which was granted on July 20, aggregating about
retroactive to May 1 1920.
Advances
of intra-State rates—freight,
The increase in
$720,000,000 yearly,
was
passenger
and
Pullman—to
correspond with the Inter-State increases thus authorized, were asked of
the various State Railway Commissions by the carriers, but such intra¬
state rate increase did not add to the total income provided for by tne
Federal Commission's decision, because In submitting their estimates the
carriers calculated on increases of both inter-State and intra-State r~tes.
increased according to the general percentage.
>'•«* ****#*
A number of State Public Service commissions declined to grant the
increases with respect to local (intra-State) rates, and in Nov. 1920 thes©
cases were awaiting adjudication.
Among the States which in Oct. 1920
had not granted the increase as to local passenger rates were the following:
States in
Which Local Passenger
Rates Were in
Doubt in October 1920-
(a) Local increases denied by Commissions: Indiana, La. and Nevada.
(&) Statutory provisions held to forbid: Arkansas, Illinois. Iowa, Mich.,
Minn., Mont.. Neb., N. Y., Ohio, Texas, Wise, and West Va.
(c) Application pending:
Arizona, Kansas & Tennessee.
(V. Ill, p.
1337,1049,955.847,751-3,652.557,351 )
_
,
Of the foregoing State commissions (1) Nevada refused any increase of
local freight rates; (2) Louisiana, Arkansas. Michigan, Minnesota, Montana,
New York, Ohio, Wisconsin and West Virginia assented to the proposed
Increase with exceptions in most cases as to rates for special classes of freight
3uch as coal, grain and building materials; and (3) withi similar exceptions,
more or less general and temporary, Nebraska agreed to an increase or 25%
and Indiana, Illinois and Texas to an increase of 33 1-3%.
The Colorado
P.U. Commission granted the Denver & Salt Lake RR. an increase of 35%.
In most of the foregoing cases the I.-S. C. Commission insisted at different
,
On
July 20 1920 the U*. S. RR. Labor Board, acting under
Transportation Act of 1920, granted wage increases to the
2,000,000 railway employees of the United States, retroactive
to May 1 1920, which the Board estimated would add approx¬
imately $600,000,000 to the pay roll, but which the Associa¬
tion of Railway Executives estimated at $625,921,085, or
21% but which it is believed has proved to be about $720,000,000.
The award was accepted under protest by the 16
recognized unions of railroad employees, Samuel Gompers,
President of the American Federation of
it "a
Lajior, pronouncing
billion had been
with Mr. Gompers's comments and other pertinent matter, will be found
in the "Chronicle" of July 24 1920, pages 347 to 350; also
see V. Ill, p. 459, 460; V. 110, p. 2252, 2254, 2624.
sop."
demanded.
Increases aggregating about
a
Full particulars as to the award,
(ordered) July 1921.
(&) Freight
15 full 35%; Iowa, Aug. 26,
Both passenger and freight
increase ordered: North Dakota, June 1921; Arizona, July 15 1921.
November 1920 the Inter-State Commerce Commission in the case
Sept. 1 1920; Ohio, Feb. 3 1921; Montana,
rates, Illinois, Aug. 26 1920 33 1-3% and Nov.
Minnesota and Nebraska, Sept. 1 1920.
(c)
rates
In
of the New York Public Service Commission
rates
must
be
made to
conform with the
Dec. 18, this to apply to passenger
mutation fares and commutation
for future consideration) and
ordered that the local passenger
Inter-State rates on and after
fates, excess baggage rates (except com¬
baggage charges, these being reserved
milk and cream rates.
The State Commissions
RAILWAY AND INDUSTRIAL
6
ASSOCIATION OF RAILWAY EXECUTIVES, 61 BROAD¬
Interference with State action to the
Court and a decision Ls awaited in the test case brought by
the summary
have carried their opposition to such
U. S. Supreme
the Wisconsin Commission. See V. HI, p. 2010 to 2012; also
in V. 112, p. 60, 160, 371, 468, 561, 651, 742, 848, 931.
As to increase in express rates see V. 111, p. 1338, 754, 654.
in Canadian wages and rates see
Canadian
Northern
Will,
Ry. system, .V.
p.
112,
For increase
1050, 848, 753, and report of
p.
WAY, NEW YORK CITY.
(
„
2184.
[Vol. 112.
SECTION
The
of the officers of this important
names
printed in full
names
of Standing Committee and Law
Aug. 7 1920, p. 549 to 556.
relatively disadvantageous position of the New Eng¬
land group of roads under the rate increase, pending a de¬
cision as to a readjustment of the basis for divisional' through
rates, was set forth by the officers of the N. Y. N. H. & H.
RR. in V. Ill, p. 1942; V. 112, p. 744, 987.
iv and
v
The award of the I.-S. C. Commission was
in "Chronicle" of
The
CONTRACTS EXECUTED AND
PAYABLE
of "Official Railway
by National Railway
given
and
see pages
Guide" for May 1921, published
Publication Co.,
75 Church St.,N.Y.
Commercial Trust
COMPENSATION
EARNINGS.—DISTURBING
Sept. 15
The passing of the railroads from
reported the contracts actually executed by the com¬
panies and the Director-General and the compensation to
be paid thereunder to the several roads as shown in the issue
•of this Section for Nov. 27 1920, p. 6.
Jan. 1 1918 and
on
was
CIRCUMSTANCES.
private to public control
again to private control on March 1 1920
attended at the time and in succeeding
the earnings of individual roads and
in November 1920
companies:
"The increases In rates and charges as authorized by the Inter-State Com¬
merce Commission July 29 1920 were largely but not wholly made effective
September; some of the States through which the Baltimore A Ohio
operates had not authorized the increase in intra-State passenger fares and
In several instances the full increase in intra-State freight traffic had not
In
Furthermore, the earnings for that month do not reflect the
been granted.
full weight of increases owing to the completion of haul on a considerable
of traffic under the old rates.
The adjustments in rates of pay
Davis, Director-General of Railroads, recently submitted an
that the loss to the Government from its 26 months'
operation of the railroads would probably aggregate 11,200,000,000. This,
however, was based on the supposition that the maintenance and other
James C.
amount
estimate showing
recommended
as
the
in
award
of
the
United
States
Labor
Board were
effective for the month of September 1920
Railway tax accruals
include a proportion of the Federal income tax, while those for
the line of the Railroad
the
rate
the railroads
income."
The treasurer of a
maintenance, then it is estimated that the loss to the Government
for 1920
1919 did
Federal income tax for that year being a charge against corpo¬
not,
well-known road, writing to the
"Chronicle" May 7
1920 said:
"Because of the methods used by the U. S. RR. Administra¬
tion in the keeping of its accounts in respect of eliminating the payment
of rentals as between the individual roads for the use of one another's equip¬
for the twenty-six months will be not less than $2,500,000,000If adjusted
between those two extremes, I think it is safe to say that the loss will be in
the neighborhood of $1,800,000,000."
Senator Cummins added that unless some means were found of
by the Baltiinore & Ohio RR. applies to
greater or less extent to many other
a
_
"But if the claims are settled on the theory advanced by
served to disturb com¬
The following statement made
parison with earlier periods.
The report presented to the House of Representatives in
May 1920 by Chairman Good of the Committee on Appro¬
priations was cited at some length in the issue of this "Sec¬
tion" for Nov. 27 1920, p. 252.
At the hearing in Washington on May 13 1921 before the
Senate RR. Investigating Committee, Senator Cummins,
Chairman Inter-State Commerce Committee, said in sub.:
claims would be adjusted with the railroads along
Administration's theory.
months by various
extraordinary circumstances which affected very materially
RAILROADS.
GOVERNMENT FINANCING OF
ment, while at the same time charging the owning road with the cost of
repairs, the requirement of the acceptance of bills from other Federally
carriers, the estimate of blanket rates, and other matters, we
have felt that the showing, while entirely correct for the Federally controlled
roads as a whole, did not properly reflect the results of operating individual
properties; and so we did not publish any report for the years 1918-1919."
increasing
or decreasing operating expenses, the continuing deficits would
also "have to be met from the Treasury.
That situation challenges the
permanency of private ownership," he continued.
;
A
revenues
controlled
The per diem charge for the use of cars between individual lines which had
frequently figured to a considerable extent as a debit or credit item, as the
might be, in reports of railroad earnings, was abolished on June 17 1918
but was restored on Oct. 1 1919.
Moreover, for purposes of unified opera¬
tion the U. S. RR. Administration during its control set aside traffic con¬
tracts, dismembered railroad systems as to operating arrangements, diverted
traffic to new routes and generally upset normal conditions.
INTERSTATE COMMERCE COMMISSION.
This
are
Building, Philadelphia, Pa.; Alfred P. Thom, General Counsel, 320 Munsey
Building, Washington, D. C.; B. Gordon Bromley, Treasurer; Robert S.
Binkerd, Assistant to the Chairman.
General offices, 61 Broadway, New York City.
1920
to
Committee,
Officers.—Thomas DeWitt Cuyler, Chairman, 701
THEREUNDER.
The United States Railroad Administration as of
as
body
For list of the 117 member roads and systems
below.
commission
which, under the Transportation Act
of 1920, is vested with new powers respecting rates, consol¬
idations, securities, issues, &c., is constituted as follows:
case
Edgar E. Clark, of Iowa, Chairman; Charles C. McChord, of Kentucky;
Most of the returns of railroad earnings for Jan. 1920
Balthasar H. Meyer, of Wisconsin; Henry C. Hall, of Colorado; Wintbrop
Daniels, of New Jersey; Clyde B. Aitchison, of Oregon; Joseph B.
showed extraordi¬
improvement in gross and net alike as compared with Jan. 1919, due in
M.
nary
Eastman, of Massachusetts; Mark W. Potter, of New York; John J. Esch,
of Wisconsin; E. I. Lewis, of Indiana, and J
B Campbell, of Spokane,
Wash, (these last three men added in 1921—V 112, p. 1826); with George
B. McGinty, of Georgia, Secretary; Alfred Holmead, of the District of
Columbia, Assistant Secretary; Thomas A. Gillis, of Pennsylvania, Assistant
to the Secretary; T. Leo Haden, of the District fo Columbia, Chief Clerk
and Purchasing Agent.
;
*
large part to the fact that in the returns for Jan. 1920 there was included an
estimate of the back mail pay for the years 1918 and 1919 accruing to the
Railroad Administration in connection with a recent decision of the InterState Commerce Commission.
was
The addition in this way to gross and net
approximately $53,000,000.
See "Chronicle" of March 6, page 933.
and net
These matters must be borne in mind when studying the gross
earningsfor 1920 and 1921 in comparison with 1918 and 1919 and other years.
ABBREVIATIONS USED IN THIS SECTION
EXPLANATORY.—This Supplement Is expressly intended for use In connection with the investment news and
.week in the "Chronicle."
may
be found.
item
has
Following each statement also is given
appended
a
official reports published from week to
Frequent reference Is made therefore to the volume and page of the "Chronicle" (as V. 112, p. 000), where fuller information
a
reference to the latest news item in the "Chronicle" respecting the company.
reference to the last preceding item, the reader
Index.—Any company not In regular alphabetical order
can run
As every such
Annual reports are in black-faced figures.
back at pleasure.
be found by means of the index, on another page, to roads leased and consolidated.
may
Dividends.—The dividends ("divs.") in the text are in general those actually paid
during the calendar years named, irrespective of when earned.
Net Earnings are given after deducting operating expenses and frequently taxes, but not Interest or other
Securities.—These are described in table at head of page (except the stock, for lack of space,
fixed charges.
sometimes only in text below) as follows;
Miles of Road.—Opposite bonds, this means the miles of road owned covered by the mortgage.
Site
or
Par Value.—Shows
(in dollars unless otherwise marked), the denominations or par value, "100, Ac.." signifying $100 and larger.
Rale Per Cent.—The interest and dividend rate per annum Is here shown; g,
gold; cur, currency; x, extra; s, stock or scrip.
When Payable.—J A J stands for January and July; F A A,
February and August; MAS, March and September; A AO, April and October; MAN.
May and November; J A D, June and December; Q-J, quarterly from January; Q-F, quarterly from February; Q-M. quarterly from March.
Bonds, Principal
When Due, &c.—This column shows for bonds the date when they mature; for stocks the amount and date of the last dividend paid or
declared.
Other Abbreviations: M for "mortgage"; Gen M for "general mortgage"; Con M or consol M for
"Consolidated mortgage"; inc M for "Income mortgage"
interest"; cum for "cumulative"; non-cum for "non-cumulative"; conv
& d for "preferred as to assets and dividends"; s f for "sinking fund"
Igr for "land grant"; r "ftdly registered (no copuons)"; c "coupon"; c* r'coupon, but may be registered as to principal"; r* "registered" and "coupon"
interchangeable; br "branch"; end "endorsed' ; red "redeemable"; dr'n or drawn; by lot call, ' subject to call"; p m "per milei'; ass'd, "assumed."
for "gold"; c or cur for "currency"; guar p & 1 for "guaranteed principal and
for "convertible into stock at holder's option"; pref for "preferred"; pref a
g
Taxes.—The position as regards deductions for taxes (deductible at source) is indicated in the table as follows:
broad tax-exemption clause that the company will pay the interest thereon without deduction for any tax.
"x" The bonds so marked contain the
The Federal Acts approved Oct. 3 1917
the source and that all further Federal income taxes
last advices so much of the normal income tax as com¬
Free from TT
U. a
S. income tor „n to 9«.
tax up t.n 2%, deductible of. amiwo »
at source."
xxxx "WV'"'
"Free
pany is required to deduct as withholding agent (V. 104, p. 699).
XXX
worn U. S. income tax up to 4%, deductible at source.
y "Free from taxes except Federal income tax."
"Fr<
yy "Free from all taxes except Federal
and State income tax."
t "No provision as to
exemption from taxes."
zz "Payable with deduction of normal Federal income tax."
k Free from
Pennsylvania State tax."
kk "Free from New York State tax."
v "Free from U. S. taxes, deductible at source."
w "Payable without deduction
for taxes, except succession, inheritance and income taxes."
wv Payable without deduction for Federal, State, Ac., taxes deductible at source other
than Federal 2% income tax.
vvvv Same with the exception also of inheritance taxes,
vvvvv Payable without deduction of U. S. (or Governmental)
and Feb. 24 1919 provide, however, that only one normal 2% income tax shall be deducted at
shall be met by the recipient of the income.
See V. 108, p. 521.
xx "Company was paying at
.
taxes other than successive inheritance and income taxes.
Mortgage Trustees and Stock Transfer Agents (TR Treasurer's Office)
NEW YORK CITY
Ba
—Bankers Trust Oo
Ce
—Central
Union Trust
are
indicated thus:
—Northern Trust Co Bk
BOSTON
AB —American Trust Co
SC
—Standard Trust
—Boston Safe Dep A Tr
—Commonwealth Tr Oo
—Federal Trust Co
—International Tr Co
UC
—Union Trust Co
—Farmers' Loan 8c Tr
BB
CB
FB
IB
—Guaranty Trust Co
NB
—New England Tr Oo '
—Mercantile
OB
SB
UB
—Old Colony Trust Co
—State Street Trust Oo
—United States Trust Oo
Oo
§m —Equitable Trust Co
—Empire Trust Co
q
Mp
N
—Safe Dep 8c Trust Oo
NC
PC
Col —Columbia Trust Oo
F
O
Me
SBa
Trust Co
—Metropolitan Trust Oo
—New York Trust Co
T
—Title Guar & Trust Oo
Us
—United States Trust
Usm—U S Mtge & Trust Oo
)
CHICAGO
CeC—Central Trust Oo of 111
ChC—Chicago City Bk A Tr
BALTIMORE—
BBa —Baltimore Trust Co
CoBa—Continental Tr Co
EBa —Equitable Trust Oo
FBa —Fidelity Trust Co
MBa —Maryland Trust Co
MeBa—Mercantile Tr 8c Dep
CC
—Continental
A
Com¬
mercial Tr A Sav Bank
FC
—First Trust A Sav Bk
HC —Harris Tr A Sav Bank
FoC—Fort
Dearborn
Tr A
Sav Bank
IC
MC
—Illinois Trust A SavBk
—Merchants' Loan A Tr
—Peoples Tr A Sav Bank
A Sav
Bank
CINCINNATI—
UCi—Union Sav Bank A Tr
CLEVELAND—
CCl —Citizens' Sav A Tr Oo
CI CI—Cleveland Trust Co
FCl —First Trust A Sav Bk
GCI —Guardian S Bk A Tr
DETROIT—
DD —Detroit Trust Oo
SD —Security Trust Co
UD —Union Trust Oo
INDIANAPOLIS—
UI
—Union Trust Co
LOS ANGELES, CAL—
LLo —Los Angeles Tr A Sav
Bank
SLo —Security Tr A Sav Bk
LOUISVILLE—
—Fidelity A Oolumt Tr
—Louisville Trust Co '
NEWARK, N J—
FN —Fidelity Trust Co
NEW ORLEANS—
HNo—HiberniaBkATrCo
WNo—Whitney Central Tr A
PL
LL
Sav Bank
PITTSBURGH—
CI Pi —Colonial Trust Oo
CwPl- Commonwealth Tr Oo
DPI —Dollar Sav A Tr Co
FPI —Fidelity Title A Trust
PPi —Pittsburgh Trust Oo
ST. LOUIS—
AmSt—American Tr Co
MeSt —Mercantile Trust Oo
MSt —Mississippi Valley Tr
SSt
—St Louis Union Trust
PHILADELPHIA—Commercial Trust Oo
—Fidelity Trust Co
GP —Girard Trust Co
GuP—Guaranty Tr A S Dep
CP
FP
_
PI —Real
Trust Tr
BPi —UnionEstate Co Co
PORTLAND, ME.—
FPo—Fidelity Trust Co
PROVIDENCE—
—Industrial Trust Co
IPr
Pr—Union Trust Co
5Pr —Rhode IslHospTrOo
MP
—Merchants
Un Tr Co
PhP—Philadelphia Trust Oo
PIP —Provident Life A Trust
PeP —Penn Oo for Insur on
Lives A Gr Annuities
RP —Real Estate T A I Co
WP —West End Trust Oo
SAN FRANCISCO—
AS
—Anglo California Tr Co
MS —Mercantile Trust Co.
US —Union Trust Co
WILMINGTON. DEL.
WW—Wilmington Tr
RAILROAD COMPANIES
Subscribers
will
confer
a
favor
RAILROAD COMPANIES
[For abbreviations,
&c.,
riving
immediate
notice
of
any
error
;
discovered In
these tables.
hi.Uet
Date
Par
Amount
Rate
When
Last
Road
notes on page 6]
see
by
Dividend
Bond»
Value
Places Where Interest and
Outstanding
%
Payable
and
Maturity
Dividends are Payable
Adirondack Ry—See Delaware A Hudson Co.
Akron & Barb Belt—1st M g s fd calls 105- Usmx.o* Ar
Akron Can & Young—1st M >1.500,000 g call 105 CIC1
Alabama Great Southern—Ordinary stock
Preferred stock 6% and participating >4.000,000
First M gold ext in 1908 (V 85, p 1645. 1460)-Fs.o
General mortgage £1.160.000
Cez.o
First Con sol M $25,000,000 gold
a.zc*r*
Equip trust Series E due $55,000 s-a g
tlabama Midland—See Atlantic Coast Line RR
Alabama Tennessee St Northern RR Corp—
Common stock, $2,500,000 vtc
Pref stock 6%
$l,70u,000 cum after Jan. 1 1924
Prior Hen M. $3,500,000 g call
102H
Mpxxxc*
Gen (2d) M $2,116,001/ g call 105; incomes 5
yrs .Co
Equipment trusts due $10,000 semi-annually
1902
1910
$1,000
$949,000
100
1878
—
...
1888
1.000
£100
1913
1916
290
$. t St tr
1,000
1918
1918
1912
100 &c
100
100
186
186
Manama & Vlcksburg—Stock (see text)...
New first mortgage bonds—notes—see text
Albany St Northern—See Georgia Southw St Gulf
Albany Pass Term Co—1st M 5% 50-yr gold bonds
Albany St Susa—Stock,dividends guar by DA H (end)
143
1st M >10.000.000 g eu o & 1 oonv(text) Usrnx.o*Ar
Albany St Vermont—Stock 3% guaranteed by rental
142
1,000
100.000
Ac
3,500,000
10,000,000
100
600.000
1.000
12
June 1 1942
1 1930
June 29 '21
U S Mtge 4 Tr Oo, N Y
Cleveland Trust Co
July
3
A
Aug 18 '21. 3y0
A
Deo
1 1927
A
Deo
Checks mailed
1 1927
1 1943
St
St
do
do
Farm L4Tr,NY;4B
Morgan .Grenf&Oo ,Lon
Dec
Guaranty Trust Oo. N Y
Dec'21-June *26 Guaranty Trust Co, N Y
~~
100
1908
A
2,500,000
1,700,000
St
850,000
6 g " J
2,116,000 Up to 6
M"&"
20,000
5
2,100,000 See text
"""""156
1912
A
7.830,000 See text
3.380.350 See text
1,749.000 5 6)g
£713,200
5 g
$4,312,000
5 g
550.000
4H S
50
__
-
St
II
1.500.000
50
/
ry'.:.: !
•
•' '
Oct 1
Sept 4 '19 3>4 % Central Union~Tr
M
5g
See text J
3X g A
&
Sept
&
See text
M
&
3
&
New'York
1948
'21-May'22
1962
Cit
Sc
Del
<fc
So
Bk, Savannah
Go, N Y
Hudson
do
Apr
Oo,~N Y
1 1946
Nov 15 19201H Troy.N Y
do
.
V-
•
July 1 1948
Nov
,
'
1
AKRON
&
AKRON
CANTON
BARBERTON
St
f
BELT RR.—See page 138.
YOUNQSTOWN
RY.—See page 141.
ALABAMA
on
FLORIDA & GULF RR.—Operates from Cowarts, Ga.
Atlantic Coast Line RR. south to Greenwood. 32 miles.
Capital stock
par, $100.
No bonds.
Pres., W. S. Wilson; Aud„ J. B. Bivings
Ala.
The bonds will be dated April 1 1921; due
April 1 1951, int. at rate o
6 % p. a.
Red. as a whole on any int. date prior to maturity at 105 and int*
—Jan. 1—March 31.—
—Jan.
1—Dec.
31.—
EARNINGS—
1921.
1920.
1920. f
1919.
Gross
$859,400
$848,208
151,084
$3,540,404
164,173
$2,794,556
281,745
$50,000;
Dothan,
Net after taxes
ALABAMA GREAT SOUTHERN RR,—Owns Chattanooga, Tenn., to
Meridian, Miss., 292 miles (about 30% double-tracked); leases Belt Ry.
Chattanooga, 1.62 m.; owns 50% int. Woodstock & Blocton Ry.. 8 m.?
REPORT.—For fiscal year ending Dec. 31 1920;
Cal.
Gross
Net after
Comp.
Net
Interest, Dividends
Yrs. Earnings.
Taxes.
Fed. Govt. Income. Rents, Ac.
Paid.
1920.$3,645,603 $146,873
$53,809 $234,776 $153,657 $147,000
trackage. 11 m.; total operated, 313 miles.
ORGANIZATION.—Controlled by Southern Ry., but operated inde¬
pendently. V.
81. p. 1722; V. 82,p. 159. Owns $975,100 stock of S. W.
Construction Oo. received for $833,300 Cln. New Orl. & Tex. Pac. stock.
1
Federal Contract, signed In Feb. 1920, fixed annual compensation at
$1,703,179. The company refused the 6 months' extension of the guaranty
LATE DIV8—-10. '11 to'15.
Com. stock...
4H
5 yrly.
'16.7
Pref. stock
1917.
5&2ext.
6&lext.
1918.
'19..
3
'20.
11
7
track, at, say, $30,000 per mile; the
at not over $500,000 yearly.
V.
remaining $7,313,500 for improvements
Equip, trust
Equipment trusts issued to Director-General
cated to this company.
See article on page 3.
EARNINGS—
—Jan.
I—March 31.—
1921.
Gross
$2,474,788
45,185
Net after taxes
for
rolling
stock
allo¬
—Jan.
I—Dec.
31.
1920.
1920.
1919.
$2,606,649 $11,588,804 $10,529,739
457,914
2,049,581
1,779,530
REPORT.—Year ending Dec. 31
1920:
Total
Interest, Pref.
Common Balance,
Income.
Rents, &c. Dividend. Div.
Surplus.
$
$
$
$
$
$
--.*2.577,574
919,499 236,624 548,100 873,350
Operating Net (after
Revenue.
Taxes).
Cal.
Years
$
1920.
1919.10,529,739 1,779,530 1,884,152
637,972 236,624 548.100 461,456
1918-9.296,635 1.925.413x1.856,763
687.337a236.624 548,100 384.700
*
Includes oper. income for 10 mos.
(March-Dec.), $2,057,518; Federal
comp., 2 mos. (Jan.-Feb.),
$283,863; other income, $236,193.
x Certified standard return and other
income.—(V. 112, p. 2079, 2082.)
ALABAMA
operates
TENNESSEE St NORTHERN RR. CORP.—Owns and
186 miles main track, extending from Calvert, Ala., at Junction
with Southern Ry. System, north to Reform,
Ala., on Mobile St Ohio RR.
Also terminal tracks and valuable harbor frontage in Mobile, Ala.,
formerly
owned by Mobile Terminal St Ry.
and 16
locomotives, 12
passenger cars
and 258 freight cars.
ORGANIZATION.—Incorp. In Alabama Oct.
12 1918 as successor of the
A. T. & N. Railway, foreclosed and reorganized per plan in V. 106, p. 2558;
V. 107, p. 290, 400, 1286, 1579; V. 108, p. 1720.
STOCK VOTING TRUST.—The new common stock Is held In a
voting
trust, with George O. Van Tuyl Jr., Louis V. Bright, George E. Warren,
James C. Colgate, John T. Cochrane and H. A. Smith as
voting trustees.
BONDS.—The only fixed charge for the first five years is the $850,000
6% Prior Lien bonds, which were issued for cash per plan.
Of the remainder of the $3,500,000 issue $100,000 is available for future
needs. $1,400,000 is reserved for use under restrictions in extending the line
if found desirable, northerly 60 miles to
Reform, Ala., on the St. LoulsSan
Francisco Ry., and southerly to Mobile, 30 miles, with
necessary Im¬
provements, and the final $1,150,000 will be restricted to future impts. and
and the refunding of equip, obligations, new or old.
extensions
The $30,000 equipment trusts, due $10,000 semi-annually (M. Sc
N.) are
part of an original Issue of $200,000, against $250,000 equipment.
EARNING8.—For cal. year 1919: Gross, $844,160; net, after taxes.
$103,092: int. St rentals. $51,018; bal., sur., $52,074.
OFFICERS.—John T. Cochrane. Pres.. Mobile; Louis V.
Bright, V.-P.,
New York: E. A. Carstens, Sec., and K. R. Guthrie. Treas., Mobile.
DIRECTORS.—Louis V. Bright. John T. Cochrane and I. H. Lehman,
New York; H. A. Smith, Hartford: David Taylor. F. J. Lisman and
George
C. Van Tuyl Jr., New York.—V. 112, p. 651, 1616.
ALABAMA St VICKSBURQ RY.—Owns Vlcksburg to Meridian, Miss,
and branch, 141 miles.
Controlled by Sterling Trust Co. of London
V. 104, p. 1263, 663.
Government contract as signed fixed compensation
at $322,854.
DIVS.—
Cash
%\
V. 109. p. 1983.
*96. *97-*99. *00.
3
*01. '02. '03. '04-*14. *15. '16-'18.
'19.
1920
5 yrly.
6
6
6
9
7 yrly.
5
7 yrly.
7H
7
50
100 in'10
The entire bonded debt of the company, aggregating $1,936,900,
falling
due April 1, was taken up on that date from the proceeds of
$1,936,900
Stock..%f
-
5-year 6% notes, dated April 1 192L,a nd maturing April 1 1926.
Of these
notes $542,900 were taken at par by present holders of maturing
bonds,
and the remainder, $1,394,000 were issued to the U. S. Government to
obtain a loan for the same amount at 6%.
The $4,000,000 First Mort¬
gage bonds and the bonds issued thereunder were created for the purpose of
furnishing collyteral to the holders of the 6% notes.
The required amount
will be deposited as collateral and the remainder will be retained in the
reasury of the company for future needs.
—
ALASKA GOVERNMENT ROAD.—(V. 112, p. 160.)
ALBANY
See
97,_p. 1285, 1582. 1820; V. 98, p. 72. 1534.
1916, V. 102. p. 1539; V. 104. p. 1044: V. 105. p. 1704.
Balance,
Surplus.
1919.$2,794,556 $281,745x$322.854 $439,164 $202,054
1918.S2,470,856 $287.543x$322.854 $456,531 $189,690 $147,000 $119,840
x Compensation granted under Federal contract
(as signed).
Larz A. Jones, Pres. & Gen. Mgr.;
Adolpho Wolfe, Sec. & Treas.
Office,
New Orleans, La.—V. 112, p. 561,
1142, 1398.
1921*
6
6 yrly.
text
7H
In 1921: On pref.,
5H%. Feb. 18; 3% Aug. 18.
On common, 3% June29.
BONDS.—The First Consols ($25,000,000) are issuable in lettered series,
>5.223.500 reserved to refund 1st 5s aDd Gen. 5s, $8,150,000 for second
def.54,978
St
SUSQUEHANNA RR.—(See Map Delaware A Hudson.)
ROAD.—Owns Albany to Blnghamton, N. Y., 142 miles.
^
LEASED for term of charter, viz., 150 years from April 19 1851, to Del. &
Hudson Co.; rental was 9% per annum on stock
(434% J-& J.), V. 56, p.
774), but the courts having held that the stook was entitled to the benefit
refunding effected in 1906. >120,750 additional rental is paid In Jan
yearly, beginning 1910, making 3.45% available for
corporate purposes.
Jan. 1914 to Jan. 1918 20 cents was deducted yearly for co.'s Federal
Income tax.
A special dividend of 30*#
($1,050,000) was paid Nov. 16
1909 from the proceeds of the judgment for back rentals due by reason of
refunding.
A special dividend of 3.25% was paid Jan. 10 1916 and again
Jan. 6 1917 and Jan. 4 1918, but no special payment was declared in Dec.
1918, owing to Federal taxation.
In Jan. 1920 apidI134% extra and In
Jan. 1921 paid 2%iextra.—V. 107, p. 2374; V. 89.
p. 1141, 1666; V. 90.
p. 913.
BONDS.—The bonds are guar. p. &!., and until Apr. 11916 were convert
into D. & H. stock—$500 stock for $1,000 bonds; >3.556,000 were so con¬
verted ($3,500,000 pledged
by D. St H.-j V. 105. p. 389).
V. 80. p. 1174,
1362, 2343.
Guaranty, V. 82, p. 989.
Arthur W. Butler. Pres.: George Wei wood Murray, V.-P.; W. L. M,
of
Phelps^ Sec. & Treas.; O. F. Coauey, Asst. Sec. & Asst. Treas.—V. Ill,
ALBANY & VERMONT RR.—Owns road from Albany to Waterford
Jet., N. Y., 12 m.
Leased to Rensselaer St Saratoga in 1860 and now oper¬
ated by .Del. & Hudson Co.
Annual rental, $20,000.—(V. 106, p. 923.)
ALGOMA CENTRAL & HUDSON BAY RY.—Owns from Sault Ste.
Marie, Ont. .and Michipicoten Harbor to a connection with the Can. North¬
Ry., 272 miles; branch to Helen Mine, 12 m.; extension to Hearst on
ern
Grand Trunk Pacific Ry., 50 m: total, 334 miles.
Cash subsidy. $6,400
per mile.
Land grant. 2.137,144 acres. V. 103. p. 2076: V. 99, p. 1671;
V.
101, p. 772.
"Industrials."
Owns stock
Lake Superior Corp. guarantee, see that company under
and
leases for 999 years Algoma Central Terminals, Ltd.,
with bonds secured on terminal properties and on $900,000 1st M. 6%
bonds and $99,300 stock of Algoma Eastern Terminals, Ltd.
V. 95, p.
1540; V. 96. p. 651. 1020. 1491; V. 99. p. 268. 536; V. 100s. p. 732; V. 104.
1700: V. 105. p. 71.
p.
PLAN.—In 1916
a
1058, 2076; V. 103,
Under this plan
a
reorganization plan was put into effect (V. 102,
843; V. 104, p. 1700, 2341; V. 105. p. 908).
p.
885,
p.
committee Including O. B. B. Smith-Bingham and
J. O. Dalton. for the Railway bonds, and A. F. P. Roger and Andrew
Williamson for the Terminals bonds, vote the common stock of both cos
The interest on the Railway 1st M. from June 1 1914, and Interest and
sinking fund on the Terminals bonds to be paid only if and to the extent
that the Joint net earnings available for the purpose permit (except as indi¬
cated below), but the interest to be cumulative up to 5%, with right to
6% per annum. If earned, in the following priority (a) Terminals bonds for
current and all prior years 3% p. a., said payment, however, to be a fixed
obligation for each year after Aug. 1 1921.
(6) Both issues pari passu
as though one
issue, 2%.
(c) Railway bonds. 3%.
(d) Any arrears up to
5% on either issue.
(e) Terminals sinking fund.
(/) Railway bonds, 1%
and Terminals bonds, H of 1%.
While the guaranty of the Lake Superior
Corporation remains, the committee alone can enforce it.
V. 105, p. 1998.
Holders of the 5% bonds of Algoma Central Terminals received in
April
1917,3% for the year to Aug. 1916;April30 1918 of Interest at 3% perann
for period from Aug. 1 1915 to June 30 1917: Nov. 1 1918
5% for year 19171918. and Nov. 1 1919 4% for year to June 1919.
Railway 5s Nov. 1 1918
received 2%; Nov. 1 1919 received 1%.
V. 107, p. 1669; V. 109, p. 1792.
No interest was paid to either the Railway or Terminal bondholders in
respect of the year ended June 30 1920.
V. 112, p. 157.
Stock, common, $5,000,000. all owned by Lake Superior Corp.; pref., 5%
non-cumj, $5,000,000, Including $3,000,000 new pref., represented by
v. t. c.
The pref. shares have a par value of $40 each.
V. 105, p. 71.
1st
M. bonds, see V
91. p 93. 1159, 1327. 1573.
REPORT.—For year ending June 30 1920:
June 30
Gross.
Net
Deficit after
Years—
•
Earnings.
Earnings.
Bond Int.
1919-20
$2,059,588 def.$169,071
$921,032
1918-19
2,258.857
$263,294
$490,682
1917-18
2,124,745
439,219
312,887
Pres., R. Home Smith; Sec., Alex. Taylor, Toronto; Treas., J. M. Alton;
Comp., E. B. Barber, Sault Ste. Marie, Ont.—V. 112, p. 157.
-
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RAILWAY
MAT, 1921.]
RAILROAD
Miles
Dais
Par
Amount
Rate
When
Last
Dividend
Road
COMPANIES
Bonds
Valus
Outstanding
%
Payable
and
Maturity
[For abbreviations, &c., see notes on page 6]
£100 $10,080,000
1910
Alfoma C & H Bar— 1st M g gu red lOo text! im xc*
24 M Incomes g*3.240.000 (V 99. p536.1213).Usni
AJg Cen Terminate let M g gu rd 105
Usm.xc*
Bquip bonds (A, B. O), due part annually red
x
1914
1912
11-12
$£
£100
318.800
(with
'V'ft'V Also In treas.Dec31 '20of "r" $1,928,000
4,992,713
text
&o
106.000
£,
$100
1898
D June 1 1960
are
Payable
See text
1889
1908
1895
1.000
500
1.000
db
A
do
O Oct
J
A
5
M
J Jan 1
,\&
O—J
5
July 1 1995
May 1 1941
ft
N
2,000,000
5
M
ft
1.000
1910
1,492,000
9,155,000
5
M
de
5
5 g
MAN
1.000
&c
See text
1887
1.000
dec
500
dec
500
dec t
Ac
1915
s44.2l7.000
1.000 dec
9.603,000
1.000 Ac
22.545.000
3.000.000
1.000 &c
1905
1.000
1908
Ac
issuable
$30,000 per mile (Issued, $2,500,000), guar., prln. 4; Int.* by Lake Super¬
Corp.
Thay are subject to call as a whole at par or may be drawn at
105.
V. 92. p. 396. 462. 527. 1032: V. 93. p 227. 406; V. 94. p. 1382.
REPORT.—For year ended June 30 1920, in V. Ill, p. 1079, showed:
Net earnings, $247,098; interest and rentals, $235,470; net income, $11,628.
Pres., R. Home Smith, Toronto; Sec., Alex. Taylor, Toronto; Treas., J. M.
Alton, Sault 8te. Marie.—(V. 109, p. 1075; V. Ill, p. 1079. 1948.)
at
ior
Map Buff. Roch. & Pitts.)—
and br. 3 m. An extension of Buff. Roch.
for guaranty of bonds, taxes and 6%
ma stock.
Uses B. ft O. from Butler to New Castle and Pittsburgh under a
trackage arrangement, making in all 144 m.
V. 70. p. 849.—V. 106, p. 600.
RY.—(See
Punxsutawney to Butler, Pa.. 60 m.
ft Plttsb., to which leased In perpetuity
e
available
M
,
\
de
Trust
N
Co,
do
do
1964
Mar 25
1995
do
do
do
July I 1996
do
1 1928
do
do
do
do
de
ft
M
do
S
Oct
tfeb
I
J
ft
J
July
1 1958
do
do
J
A
J
Jan
1
ft
D
do
do
do
J
! g
\%
4 g
uncertlfle d);of"«'
1965
June 1 1966
$296,000:of"t"
do
"
$86,000
;
V. Ill,
p.
•;
Louisi¬
ARKANSAS & LOUISIANA MISSOURI RY.—Incorporated in
in Aug. 1920 as successor to Arkansas ft Louisiana Midland RR.
Com¬
ana
pare
Y
So Pac Co 165 Bway N Y
N July 1 1996
O
A
&
VI
Ae
i g
6.785.000
$3,353 ,000 mor
J
4 g
r)50634500
7.129.000
500
5 g
4 g
560.000
1895
1895
1895
Empire
See text
'21 1% Check from Co's office
New York Trust Co. N Y
May 1 1925
Central Union Tr Co, NY
July 1 1928
June 1 *21 1H% Checks mailed from N Y
do
do
Feb 1
1921 2^
6 Nassau Street, N Y
J Jan 1 1937
60
Q—M
773.500 4 In 1920
M
do
N
4 g
300.000
1,000
J
de
J
4 g
1,000
248,000
100 225,128,500 6 in 1920
Q—M
F
de
A
100 124.173.700
5
1900
1898
1903
1
May 1 1950
Mar 1
do
do
Office. 437 Chestnut, Pb
Union Tr Co. San Fran
Metropolitan Tr Co, N 1
S Sept 51925
N Nov 1 1924
1914
M
1921
1 1998
"T.ooo
1905
1894
3% A Tuelln de Co. New York
J July 1 1929
N Nov 21938
4
See text
1911
Bonds (Man. & No. Shore Ry.) auth., $3,000,000.
J
6
450.000
300.000
7 000.000
do
Sept 1 1964
4 g
3.200.000
2.000,000
1,000
ALGOMA EASTERN RY.—Owns from Sudbury. Ont.. to Little Cur¬
(Manitoulin Island) through nickel and copper districts, 86 m., com¬
pleted Jan. 1 1913; branches, 3 m.
Land grant 682,692 acres in Ontario
and cash subsidies from Prov. and Dom.ofCan. V. 92, p. 265; V. 95, p.748.
Leasee for 999 years Algoma Eastern Terminals, Ltd., rental covering int.
and sink, fund on $900,000 1st M. 5% bonds.
See Algoma Central Ter¬
minals. Lto., mtge., under Algoma Central Sc Hudson Bay Ry. above.
Common stock, $2,000,000, all issued, and pref. 5% non-cura., $1,000.000, all issued, all pref. and $1,090,000 common owned by Lake Superior
WESTERN
Dividends
F "ft" A Auk 1962
do
MAN 15 To May 15 1922 Maitl&nd.Ooppeil&CoNY
M
ft' S Moh 1 1961
Bb of Mont, Londe N Y
Semi-A'n To Apr 1 1926
Malt., Goppellft Oo.N Y
n
ie
2.500.000
115.000
$, £, &o
$. £. Ac
rent
&
&
text
&c
$«
1911
Aqnlp bonds ser A ft D due part ann through 10 yrs
63
41Ucheflf ft Western—Stooit *3.500.000) guar...^
63
Pfrit M *2.500,000 gold guar p ft I (end).,.Q.xcAllegheny Valley—fee Pennsylvania RR
3
Allentown Terminal—1st M g ext cal J102M-Ce.xc*
12
Amador Central—1st M gold (2% s t began 1913) ..xx
292
Ann Arbor—First intge $7,000,000 gold
Mp.xc*
Impt and ext M $10,000,000 gold
.
—
x
Apalachicola Northern RR—First mtge $2,000,000 g._ 98.68
124
Arizona Eastern—Gila Vail Gl & N 1st M g gu.Mp z
187
First Refunding M s f
F.c*&r
Ark & Mem Ry. Bdze & T.— 1*t M $7,500,000 g G
Asheviile & Spartanburg—See Southern Ry. Carolina Dlv.'
Ashland Coal & Iron Ry.—Stock
*22
First refunding mortgage $400,000 gold
Nx
Atchison & Eastern Bridge—1st M g s f red at par.Cex
Atch Top & Santa Fe Ry—Stock, com $250.000.000.
Stock pref $131,486,000 5% non-cum..
....
439
Chicago Santa Fe ft California 1st M g
BB.zc'&r
8.516
General mortgage gold (see text)....... Ce .xc* &r
Adjust lno M cum since July 1 1900 g Ce.xc'&r 8.516
8.516
do
do
Interest stamped payable M ft N
_x
479
Eastern Oklahoma Dlv IstM $10.000,000g G.xc*ftr
1102
fransconSLlstM $30,000,000 g red 110-.Gxc*&r
91
Rocky Mtn Dlv 1st M $20,000,000 g red.G.yc*ftr*
Bonds convertible till June 1918 red (text) G.xc»ftr*
ALLEGHENY
J
text
Where Interest and
Places
'
Alfoma East Ry.— Man ft No So 1st M ggu red Usmc*
Corporation.
9
STOCKS AND BONDS
790, 895, 1369; V. 112, p. 1143.
ARKANSAS & MEMPHIS RAILWAY, BRIDGE & TERMINAL CO
bridge (with wagon-way) across the Mississippi River
Memphis, Tenn.; opened for traffic July 15 1916.
V. 103. p. 321 1
Stock outstanding $2,520,000 owned one-third each by the St. Louis
Southwestern Ry., Chicago
Rock Island & Pacific Ry. and Missouri
Pacific RR.. which use the road under a 50-year operating agreement.
—Owns double-track
at
These roads jointly and severally guarantee the 1st M. bonds, prin. and int.,
by endorsement.
Of the $7,500,000 1st M. bonds, $3,750,000 are owned
by the three proprietary companies.
Of the remainder $2,250,000 are in
the company's treasury subject to the indenture of Dec. 21 1917, $3,676,000
are outstanding; $74,000 have been retired through sinking fund and $1,500,000 are unissued.
V. 108, p. 1721.
Pres., W. S. Martin; V.-P., J.M. Herbert; Sec. ft Treas., Carl Nyquist.
ATCHISON & EASTERN BRIDGE.—Owns railroad and wagon bridge
connecting with the union station.
Used by the Atch
Top. ft Santa Fe, the Chic. R. T. ft P., the Mo. Pao. and the Ohio Bur» ft
Quincy.
Stock, $700,000; par, $100 per share.
Pres., H. A. Kelley
Treas., H. P. Eells Jr.; Sec
W. P. Kelly, Cleveland, O.—(V. 67, p. 578.
at Atchison, Kan.,
,
ALLENTOWN RR.—Topton to Kutztown, Pa., 4.39 m. Stock, $1,268.884 (par $50), lncl. $1,071,400 pledged under Reading Co. gen.M. No bonds.
ALLENTOWN TERMINAL
RR.-Owns 3.27 miles of railroad In Allen-
town, Pa., connecting the East Penn. (Phlla. ft Reading) with the Cent, of
N. J.
Leased for 999 years to Phlla. ft Read, and Cent, of N. J. (by assign¬
Lehigh Coal ft Navigation Co.) at int. on bonds and 5% on
$450,000 stock (par $50), and taxes.
Bonds were extended from July 1 1919 to July 1 1929, the interest rate
being raised from 4% to 6%; the mortgage security remains unimpaired but
the guaranty of P. ft R. Ry. and Lehigh Coal ft Nav. Co. was canceled.
Callable after July 11920 at 102M and int.—(V. 50, p. 422; V. 108, p. 2628.)
ment from
AMADOR CENTRAL RR—See page 138.
AMERICAN
ANN ARBOR RR.—Owns from Toledo, O., to Frankfort, on Lake Mich.
operates car ferries between Frankfort, Mich., Kewaunee and
292 miles;
Mich.
Wabash and
& Lake Superior, Manlstique, Mich.,
V. 92, p. 1108; V. 107, p.
Evelyn, 42 miles (with branch, 13 miles).
1344, 2156; V. 106, p. 2194. 2410.
pref., $4,000,000; 5% non-cum.,
Pref. stook cert., see issue Oct. 30 1897, p. 3..
V. 94. p. 206.
Feb. 1921 notified holders of the $700,000
2-year 6% coll. gold notes due May 1 1921 (which are secured by deposit of
$2,000,000 impt. ft extension 5% bonds) that payment would be antici¬
pated on the basis of 8%, or approximately 99.6% and int., on presentation
to Empire Trust Co., N. Y,, on and after Feb. 28 1921.
The company in April 1921 asked the Commission for authority to Issue
$2,000,000 6% Impt. & Ext. bonds in lieu of similar 5% bonds, and for per¬
mission to retire $500,000 of its outstanding $2,500,000 5% bonds.
Equipment trusts issued
to Director-General for rolling stock allo¬
STOCK., &c.—Common, $3,250,000;
par
•
$100.
BONDS.—The company in
cated to this company.
See article on page 3.
1369: V. 112, p. 256,
Government loan, V. Ill, p.
-Jan.
EARNINGS—
Gross
Net after taxes
1 -Mar.
.
$5,528,579
504,975
$1,160,353
def.5,690
$4,533,990
615,950
$4,533,990; oper income,
income. $646,474.
DIRECTORS.—Newman
Erb. J.
S.
Bache.
F
Kingsbury Curtis,
Colin Macrae Ingersoll, W. J. Wollman, W. M. Wadden, all of N. Y.;
Frederick Hertenstein, Cincinnati; Pres., Newman Erb; V.-Pres., J. S.
REPORT for cal. year 1919: gross oper. rev.,
$615,951: other income, $44,085; deductions, $13,572: net
Bache; V.-P. & Treas., W. M. Wadden; Sec., H. B.
p.
Blanchard.—(V. 112,
848, 1976.
ANTHONY & NORTHERN RR.—Reorganized in 1919 as
Northwestern RR., which see.
the Wichita
APALAChlCOLAl NORTHERN RR.—River Junction to Port St. Joe.
95.62 miles; Franklin Junction to Apalachicola, 3.06 miles; total main line
owned. 98.68 miles.
Main line leased from Atlantic Coast line. 0-44 miles
and side tracks owned, 9.02 miles. V 87, p. 935. Capital stock, $1,000.000.
Pcdqs, $2,000,000 (111. State Tr. Co
E, St Louis, trustee,
nil held o>
•
.
committee, A. T. Perkins, St. Louis, Chairman,
and Rob't R. Tompkins,
March 1913 and sub¬
Secretary, which collects interest only as earned.
sequent coupons were not paid at maturity; in Dec. 1917. $37,600. and
In Dec. 1918, $17,400 was paid on past due coupons: none since to May 1 '21
For cal. year 1920, gross, $361,780: net. def., $7,309.
For 1919, gross,
$244,885; net, def., $15,845.
A. T. Perkins, Chairman and President, St.
Louis; Bryan Snyder, V.-P. & Gen. Mgr.; G. H. Williams, V.-P. & Gen.
Counsel, St. Louis; R. R. Tompkins, Sec., St. Louis; F. V. Dubrouillet,
Treas., St. Louis.—(V. 104, p. 763.)
ARIZONA EASTERN RR.—Owns Maricopa to Hassayampa. Ariz.
Bowie to Miami, Ariz., 136 m.; Cochise to Gleeson, 35 m.; Tempe
other. 31 m.: leases Phoenix. Ariz., to Winkelman. 92 m.
other, 1 m.; total, 378 miles.
V. 90, p. 446.
Annual compensation for
Government operation as determined In March 1919. $1,242,475.
V. 108.
74 miles;
to Mesa, 8 m.:
31
6, 974.
ec.
Stock$8,999,100 owned by South. Pacific Co.; withoutstanding
auth.. $40,000,000, of which $9,000,000 $2,412,000
1919,
outstanding First Ref. 5s.
The remainder of the bonds
are held in sinking funds of proprietary cos.
Cal. year 1919, standard re¬
turn, $1,242,475; other income, $8,432: deductions, $938,189; net income,
$313,210.
In 1918 standard return, $1,242,475; other income, $22,792;
interest, &c., charges, $857,329; expenses (net) prior to 1918, $16,632;
ba
ur.. $391,306.
V. 107. p. 1286; V. 108, p. 974.
sLtiiii
of the $9,155,000
852.48
8,830.111 Panhandle & Santa Fe
20.221 Grand Canyon
64.09
—
Also
with Southern Pacific Co. (Northwestern Pacific
Sunset Ry., 49.86 miles.
V. 109, p
X
shareholders voted Oct. 25 1917 to acquire several subsidiaries.
controls jointly
908; V. 106, p. 2343.
See V. 106, p. 2130.
April 1915 the St. Louis Rocky Mt. ft: Pacific Ry., extending from Des
106 miles, was purchased for
$3,000,000 Rocky Mtn. Dlv. 1st M. 50-yr. 4s.
See V. 97. p. 363, 442;
V.95, p. 543. 1771; V. 97, p. 666; V. 100. p. 1169, 1591.
The Oklahoma Central RR., Lehigh. Okla.. toOhickasha, 133 miles, was
leased for 5 years from Aug. 1 1914. with privilege of renewal for 5 years.
An option to purchase the $1,500,000 stock and $1,600,000 income bonds
for $800,000 was exercised In 1917, about 80% of the $1,200,00 ) 1st Mtge.
5% bonds due Aug. 1 1934 being also acquired.' V. 106, p. 2130.
V. 98.
p. 1844; V. 99. p. 406: V. 101. p. 845.
In April 1921 was authorized to operate, pursuant to a lease dated April 7
1920, the Buffalo (Okla.) Northwestern RR., which Includes 51 miles of
road, extending from a point of connection with its main line at Waynoka,
Okla., to Buffalo.
V. 112, p. 1616.
The stockholders in May 1921 also
approved the leases of the Okla. Short Line and the Barton County &
V.
105, p.
In
Moines. N. M., west to Raton, with branches.
,
Santa Fe.
ORGANIZATION.—Organized Dec. 12 1895 under laws of Kansas. Is
of Atch. Top. ft S. Fe RRi Co., foreclosed.
V. 60, p. 658.
The railway company on Dec. 31 1920 owned In fee 7,127 miles of system,
and also all, or nearly all, the bonds and stocks of the other companies.
successor
371.
Jan. 1 -Dec. 31
1920.
1919.
31
1920
1921.
$1,123,899
10,914
Atchison Topeka & S. F
Rio Grande El Paso & S. Fe.
Gulf Colorado ft Santa Fe_.1,907.641
1987
The
Manitowoc. Wis., and Menominee and Manlstique.
Pere Marq. use Toledo terminals.
Owns capital stock of Maoistique
~
RR.—which see, &c.), 517.14 miles;
NIAGARA RR.—(V. 112, p. 160.)
to
ATCHISON TOPEKA 5c SANTA
FE RY.—(See Map.)—
On Jan. 1 1921 comprised 11,674 miles of railroad (11,483 m, owned).
Including an unbroken line from Chicago, III., via Kansas City, Mo., and
Albuquerque, N. M., to the Pacific Ocean; also to Galveston, Tex., and the
Te:
Gulf of Mexico. For operating purposes the 11.674 m.were divided as follows:
(THE)
.
.
STOCK.—The preferred stock has preference as to
assets and non-cumu¬
lative dividends not exceeding 5% per ann.
DIVS.—
Oom.
Pref.
'00.
0
4
(%)
(%)
1921
02-*05. 06. '07. '08. '09.
1910 to June
3H4 yrly. 4X 6
5
5H 6% yrly(l X%
5
6 yrly. 5
5
5
5
5% yrly(2K%
'01.
Q-M)
FftA)
731-739: see also V. 68.
p. 974; V. 86. p. 1098) gives a liep, either by direct mortgage or by collateral
trust, on 8,516.35 m. of the system, with equip., terminals. &c.
The unissued Gen. M. 4s have
been reserved as follows: To retire under¬
lying bonds, $2,004,960; for impts., &c., $1,852,102; acquisitions of other
lines, $6,731,554; no longer available, $2,339,383.
BONDS.—The Gen. Mort.
Adjust.
(Abstract V. 62.
p.
Int. payable only li.
Present Issue limited to $nl,improvements as above
$20,000,000 additional adjustment 4s may be issued for
at not exceeding $2,000,000 in any one year, but only by
(Income) Mtge. abstract. V. 62, p. 739.
darned up to 4% in each year,
cumulative.
728.000. but when the $30,000,000 gen. 4s auth. for
lave
been Issued,
?he same purpose
majority vote of the adjustment bondholders.
paid 3%; since, full 4% yearly.
/
Eastern Oklahoma division 4s of 1903, V. 76.
\
Interest—In Nov. 1897
434; V. 79. p. 1331;
1041.
gold 4s of 1908 are limited to
130,000,000 auth. issue.
The $17,000,000 sold In Aug. 1908 covered 693
miles then In operation; the remaining $13,000,000 can be Issued at $25,000
per mile
V. 100, p. 2008. Com pare issue June 26 1915. V. 87, p. 479, 878.
The 4s of 1905 ($49,711,000 auth. issue) were convertible Into oom. stodk
at par till June 1
1918.
V. 79
p
2695: V 80. p 649; V. 81. p. 1174;
V. 82, p. 391, 867.
The 4s of 1909 were convert, into com. stock at par to
June 1 1918. V. 88, p. 1435,1559. The 4s of 1910 are conv. into com. stock
at par to June 1 1923. V. 90, p. 913,1043, 1612; V. 92, p. 393, 593,1700.
The several issues of convertibles mast be secured by any future mtge.
covering the lines owned at time the convertible issue was made, and are
V. 86, p. 980.
The "Trans-Continental Short Line" first
f. 84. p. 1549; V. 85. p. 598;
p.
it
f
callable at 110.
Lines 1st and Ref .mtge. of 1912 ($50,000,000 auth.
$18,519,601 4Hs are outstanding covers 820
miles of
the line from Needles to Mojave, 242 miles, which was
tcquired from the Southern Pacific Co., on which there are outstanding
44,127.500 Sou. Pac. bonds due Nov. 1 1937.
The latter also cover over
1,000 miles of Sou. Pac. Co., which has agreed to Indemnify the Cal. Ariz,
fc Santa Fe Ry. against any claim on account thereof.
roe California-Arizona
■sue) of which
road, including
10
STOCKS AND BONDS
KAILWAY
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:ongW-ND
Mat, 1921.]
RAILWAY
RAILROAD
COMPANIES '
Date
Par
Amount
Rate
When
Last
Dividend
Road
Bonds
Value
Outstanding
.*
Payable
and
Maturity
1909
Jl.OOOAo
1910
1898
1896
1892
1,000 Ac
1,000
1,000
4tch!son Topeka & Santa Fe Ry iCim.j—
Bonds convertible till June 1918 red (text)G.xc*Ar*
Bonds convertible till June 1923 red (text} G.xc*Ar*
red 105 sinoe 1908-.OB.so
San Jo Val 1st M g call 110 aft 1915- Ba jsc
A So 1st M g
San Fr A
Santa Fe Pres A Phoenix—1st
Prescott A Eastern 1st M guar
141
375
Ba.EC*
195
26
Ce.zc*
Oal-Ar L IstARef M S50.000.000 gred HO.Q.xo* &r*
834
Athens Terminal Co—1st M gold redeem 105 --N.xo*
4tl Blrm & Atl— Atl A B 1st M red 110
OB.xc*
337
First As Bef M $15,000,000 g call (text).Eq.yyc*Ar*
t
634
1
637
Income M 6% n-c $5,200,000 call par Aint-Col.yc*
263
Atlanta At Charlotte Air Line—Stock (see text)—
1st M $20,000,000 ($5.500,000 ser A4)4) Ce.yc*Ar*
263
Atlanta Knoxville & Northern Ry—See Louisville A N ashvlll
Atl & St And Bay—1st M $500,000 g red par
82
c*
Second mtge ($500,000 authorised)
82
—
Atlanta Terminal—lstM$2,500.000ser Ag Qxxxc*&r 4.912
93
Atlanta A West Point—Stock $2,464,400 auth
Atlantic City—IstM ggucall 105 May'24 GuP.xxxc*
81
Atlantic City purchase money real estate mtge.QPx
Sea Coast prior lien mortgage gold
68
-x
All
1st Cons M $4,500,000 gold guar
OPx
Atlantic Coast Line Co (Conn)—Stock (see text)
Oertli of lndebt lno non-oum $5,000,000 ..SBa.zr
do
Class B red 105 after Nov 1920(V 89.p1666) z
do
redeemable at par since 1910—
r,
Atlantic Coast Line RR—Stock common (text).
Glass "A" oom stook tax exempt (Rioh & Pet oertfs)
Preferred stock 5% (V. 75. p. 1252)
Ooll tr M gold seoured by L & N stk red 105.xo*Ar*
Gen Unified Mortgage
Us.c*Ar* 4.423
Do
series B
Us.c*Ar*
4,423
Oonv debs $23,562,500 red 105 after May'16 SBa.xr
Secured gold notes redeemable text
c*Ar*
M
..—g
1912
1907
1904
1915
1915
19U
(new)
_z
SBax
Equip trust
do
ser B gold $125,000 due s-a
No. 4 due $395,300 annually.__
No. 4-A due $30,000 annually
do
Series D, due $300,000 yearly
do
t Further
$27,022,933
4i*s
in treasury
1.000
1919
Tood
100
1889
1.000
1.000
2.463.600
2.200.000
75,000
350.000
1,851,000
8,820,000
6,000.000
61.800
3,000.000
67.586,200
1,000,000
196.700
35,000.000
t22.919.000
100.000
4.444.855
6,000,000
135,100
125,000
5,534,200
1900
1898
1901
1,000
50
100 Ac
i§97
1900
100 Ac
1905
100 Ac
100
100
100
1.000 Ao
1902
1914
1914
1,000 Ac
"Too
1920
1902
Ac
500 Ac
100 Ac
1,000
1909
u
V.95.
543.
p.
Of the Rocky Mtn. Dlv. 1st 4s of 1915 ($20,000,000 auth. issue). $3.
000,000, redeemable at 105. were issued to purchase the St. Louis Rocky
Mtn. A Pac. Co., Des Moines to Raton, N.M., Ac., 91 miles.
The remainder
mav be Issued for extensions.
V. 100. p. 1593;
V. 102. p. 250.
Federal Compensation.—$42,810,311 yearly during Federal control.
Equipment tr&sts issued to Director-General for rolling stock allocated
See article on page 3.
Govt, loan, V. Ill, p. 293.
to this company.
Jan. 1—Dec. 31—
Jan.l—Mar. 31—
.
EARNINGS—
1920.
1921.
Gross
1919.
1920.
$44,405,003 $53.043.815$215,444,414$179.904,498
2,399.527
14.170,989
26.704,007
41,557,139
Net after taxes
REPORT.—For calendar years 1920. in V. 112, p. 1859. 1876.
Calendar Years—
1920.
1919.
1918.
Avge. mileage operated.
1917.
11,483
11,456
$
Operating income.... 24,005,615
Federal compensation
*43,236,481
Income from investment
8,222,337
Interest, discount, Ac__
Misc. income credits
1,619,776
38,035,650
44,615,087
10,383,400
507,409
4,209,307
Total income......
Interest on bonds.
59,715,203
11,654,259
808,612
3,373.271
780,403
—
53,078,597
12,015,620
231,346
Federal taxes
2,608,497
Other income debits.
588,380
Preferred divs. (5%)-.6,208,685
Common dividends (6 %) 13,441,108
Approp. fuel res. fd., Ac.
103,496
Invest, in physical prop.
'
Ac...
...
6,208,685
13,351,695
99,459
Balance, surplus.....
23,438,819
17,881,460
44,206,339
42,885,311
1,464,208
1,434,424
1,412,320
47,196,263
11,696,192
673,664
3,095.398
3,382.575
6.208,685
13,289,595
89,571
•--
—
.....—
8,760,582\
48,346,700
1,424,580
2,468,949
52,240,229
11,852,977
2,201,704
6,208,685
13,177,995
85,280
8,348,180
10,365,408
*
Storey, Pres.; E. J. Engel, W. E. Hodges, A. G.
Chambers!, V.-P.; D. L. Gallup, Comp.; E. L. Copeland,
OFFICER8.—W. B.
Sec. A Treas.; L. C. Deming, Asst.
A
July 1 1937
J
M
A
Jan
be
M
be
J
be
Payable
5
New York Trust Go, N Y
Old Golony Trust Go. Boa
Nassau
Street.
do
Y
do
do
N
do
do
do
do
do
do
do
do
11934
Nov 1 1945
Nov 1 1930
be
M
are
do
Equitable Trust Co, N Y
Columbia Trust Co, N Y
Mar 1921 4)4% D S Mtge A Tr Co. N Y
July 11944
Central Un Tr Co. N Y
Sec.
Steele* Edward J. Berwlnd. H. Rieman Duval,
Henry S. Pritchett Ogden L. Mills John W Davis W. C. Potter, New
York; T. De Witt Cuyler, Phila.; S. T. Bledsoe, W B. Storey, Chicago;
Andrew D. Jobes, Merriam, Kan.; Howel Jones, Topeka; W. E. Brown,
Wichita, Kan.; Arthur T. Hadley, New Haven; J. E. Otis, Chicago.
Office. 5 Nassau St.. N. Y.—(V. 112, p. 371, 1023, 1517, 1616, 1859, 1876,
1976.)
Directors.—Charles
A
&
F
A
J
O Oot 11938
AtlantaOenBkATr Corp
J Junel 1940
A Aug 11939
Guaranty Trust Go, N Y
D Dec 31 '20 3% Atlanta, Ga
A
J
A
5HS MAN May
A
A
O Apr
A
A
O Apr
5 g
J
A
J July
4 g
4)4
11929
11930
11948
11951
Reading Terminal, Phlla
do
do
do
do
do
do
Mar 10 *21 3% Baltimore
12 In '20
Q—M
5 cur J;
Dec 1920 paid 2)4%
A
D Irredeemable
J
4
J
A
Jan 1921
paid 2%
J
A
J Jan
4
Jan 1921
11925
paid 2%
A
J Jan 10 1921 3)4 Treas Office. Wilm, N O
7 in 1920 J
A
J Jan 10 1921 3)4
7 In 1920 J
do
do
MAN May 1921
5 in 1920
do
2H
do
4 g
MAN Oot 11952
J P Morgan A Co, N Y
J
A
D June 11964
United States Tr Go, N T
4)4
4
J
be
D Juoe 11964
do
do
.
MAN Nov 1 1939
MAN 15 May 15 1930
MAN Irredeemable
A
D Dec 1921
4)4 g J
J
A
J To Jan 15 1935
6
6
.T
A
J To Jan. 15 1935
A
A Feb 1 '22 to '36
6)4 g F
4
7 g
4
Safe Dep A Tr Co, Balto
Treas Office. Wilm. N O
U STr Go. N Y. A Balto
Guaranty Trust Co, N Y
do
J P
do
Morgan A Co, N Y
Fund." carrying interest at 6%. may be distributed to the Income bonds
any time and In any amount, and any balance at the maturity of tbe
bonds shall be paid over to the trustee for the benefit of the bondholdere.
Total autb. issue, $5,200,000; held
by or for company, $656,093;out-
standing, $4,543,907.
V. 105, p. 68.
The first installment of interest on the 15-yr. 5% income M. bonds at
the full rate of 5% per annum, from Nov. 1 1915 to June 30 1916, $33 33
per $1,000 bonds was paid Sept. 1 1916, but only as to 2)4 % from earnings;
Mar. 1917 to Mar. 1918 incl., 2)4% (s.-a.) was paid on the Incomes; on
Jan. 12 1920 Interest was paid at the rate of 5% per ann. on the coupons
due Sept.
1 1918, Mar. 1 1919 and Sept. 1 1919. Y. 110, p. 260. Mar.
1920 paid 2)4%.
Sept. 1 1920 interest was deferred.
V. Ill, P. 989.
As to Atlanta A Birm. Ry. $4,090,000 1st M. 5s. see V. 80, p. 710,115.
1
Equipment trusts ($958,500) issued to Director-General for rolling stock
allocated to this company.
See article on page 3.
notes due $20,030 annually to 1930, $200,000.
Jan. 1—Mar. 31
EARNINGS—
Gross
Net after taxes.
REPORT.—For
-
Jan. 1—Dec. 31
1920.
$807,543
def462,745
1920.
year
Earnings.
1920
1919-
-.
-
---
Standard
income
return,
bonds,
a
Including
b Includes
1919.
$1,471,737
$5,750,591
$4,961,072
def39.858 def1,294,040 * def973,778
Gross
Year—
1918--
1921.
—
U. S. Govt, long-term
ending Dec. 31 1919 in V. Ill, p. 69,
Net, after
Other
Interest,
Taxes.
Income.
Rents, &c.
-$5,829,862df$l,265,397 5$1,566,111
$364,534
4,961,072
*480,000
28,924
523,825
77,680
0529,738
4.703.38JL
*480,000
Calendar
*
Includes Fed. comp. for 2 mos., $7,699,531; Fed. guaranty (6 mos.),
$22 553 225; and net oper. income Sept. 1 to Dec. 31 $12 983 725.
y Owing to Federal operation
comparisons with earlier years are faulty.
z Not including war taxes.
Wells and Edw.
J
Where Interest and
Dividends
at
11,284
$
209,500,004 187,648,223 165,529,519
156,642,823 135,793,059 105,222,878
zl2,166,272 zl4,821.531
z7,658,824
11,959,941
Taxes, Ac
Rentals,
showed:
$
11,583
$
Total oper. reyenues
.254,249,001
Total oper. expenses....218,077,114
A
6 g
6
420.000
anaeriying bonds, $4,940,000 Santa Fe Prescott A Phoenix 5s, $224,000
Presoott A Eastern 5a and $3,000 on the line from Goffs to Ivanp&h. Cal..
696. 766:
U
6
1,000
1921
4,500,000
$14.59 9 and z $ 7,000
Of the remaining Cal.-Arlz. bonds, $26,313,399 are Issuable for not
exceeding the actual cash expenditures for betterments, improvements and
V. 94, p. 649.
be
6 g
1,000.000
"
additions on and after Jan. 11912 and $5,167,000 are reserved to refund the
45 miles.
be
be
5 g
425.000
425.000
1908
1914
1920
1920
—
SBa
Dec.31 1920: also
A
fig
224.000
$ A £ ul 8519,601
4)4 g
1,000
200,000
fig
5 g
4.090.000
1,000
text
See text
1,000
1.000
4,543,907 See text
9
100
1,700.000
1,000 Ac 20,009,000 4)4 A 5
1911
<•
Indebtedness
A
M
5 g
5 g
z5.946,000
4.940,000
&
5c
June 11955
June 11960
Jan 11928
Oot
1 1940
Sept 11942
Apr 1 1928
Moh 1 1962
4 g
4 g
192.000
Places
e
•
of
i
J
J
A
$1,190,000
7,816.000
1,000
1,000
1898
—
.
OertlQcates
11
Mile*
[For abbreviations, &c., see notes on page 6]
Hutchln
STOCKS AND BONDS
a
reserve
standard
return,
showing:
Balance,
Sur, or Def.
def$63,820.
def.
sur.
14,901
28,045
of $227,195 for interest on
$80,000, and Govt, guar.,
$3,383,402.
*
DIRECTORS.—Brooks Morgan, J. K. Ottley, B. L. Bugg, W. W.
Banks, T. K. Glenn and Mell. R. Wilkinson, of Atlanta: A. H. Woodward,
Birmingham, Ala.; Galen L. Stone, Boston; Percy R. Pyne, George O. Clark
Jr. and Howard Bayne, N. Y. City; W. G. Brantley, Washington, D. O.;
J. D. M. Strachan, Brunswick, Ga.; W. C. Vereen, Moultrie. Ga.
Pres.. B. L. Bugg; V.-Pres.. J. L. Edwards: Treas., W. E. Paschall;
Sec., A. V. B. Gilbert.—(V. 112, p. 1023, 1143,1282, 13S8, 1739, 2082.)
*
ATLANTA & CHARLOTTE AIR LINE RY—Owns Charlotte. N. C., to
Armour. Ga., 263 miles.
In
1914 It was agreed to modify the operating contract made with
the Richmond A Danville RR. under which the dividend to be paid will be
9% yearly without regard to earnings, instead of a maximum of 7%, de¬
pendent upon gross earnings, the Southern Ry. to have an option to pur¬
chase the stock on any dividend date at $250 per share In cash. Y. 98. p.
1458. 1765. 1918; V. 98. p. 1991; V. 99. p. 195, 536, 608; V. 106, p. 2758
(So. Ry.).
The final $4,000,000 1st M. 5s was sold In 1917 on account of
double-tracking, Ac.
V. 104. p. 1044.
V. 102. p. 1058, 1162; V. 101.
p. 286, 368; V. 103. p. 577, &4.
Pres.. O. S. Fairchild, N. Y.—(V. 104, p. 1044,1898; V. 105, p. 388.)
ATLANTA & ST. ANDREWS BAY RY.—Owns from Dothan, Ala., to
Panama City, Fla., on Gulf of Mexico, 85.43 miles.
Stock auth., $1,000,000; outstanding, $300,000; par, $100.
Central Bank A Trust Corp. of
Atlanta, trustee of first mtge. V.98. p. 391, 1460: V. 88, p. 685; V. 83,p.270.
Government award, V. 112, p. 256.
For year ending Dec. 31 1918,gross,
$307,389; net after taxes, $47,017; interest ,$51,000; bal., def., $3,983.
Pres., Minor O. Keith; Sec., H. H. Hanson, both of New York.—V. 112,
256.)
p.
ATHENS TERMINAL CO.—Owns freight terminals and approaches in
Athens, Ga.
Stook $25,000, equally owned by Seaboard Air Line and
Gainesville Midland, which agree to pay operating expenses and interest
oharges In proportion to tonnage used. Bonds ($250,000 auth, Issue), see
table above.
Pres A Treas., Gordon C. Carson; Sec., A. M. Yetterdahl,
120 Broadway, New York City.
ATLANTA BIRMINGHAM & ATLANTIC RY.—Owns Brunswick, Ga.,
Birmingham, Ala., 455 miles; Sessoms to Waycross, Ga., 26 miles;
to Tbomasvllle. Ga., 80 m.; Atlanta to Manchester. 76 m,;
total, 637 m.
See V. 103, p. 405.
Proposed extension from Waycross, Ga.,
to Jacksonville, Fla., 75 miles.
V. 104, p. 2116.
Pres. B. L. Bugg was appointed receiver on Feb. 251921.
V. 112, p. 931.
In March 1921 was authorized to borrow $125,000 to pay past due wages.
Y. 112, p. 1398.
Wage decision, V. 112, p. 1739.
to
Fitzgerald
ORGANIZATION.—On Jan. 1 1916 succeeded to foreclosed properties
of tbe A. B. A A. RR. Co.. Georgia Terminal Co. and Alabama Terminal
By., per plan In Y.101,p.2l43. Result of Federal valuation. Y.103.P.1887.
Federal contract signed in Dec. 1919, fixing annual compensation at
$480,000.
to
Government loan, V. Ill,
p.
492.
8TOCK.—$30,000,000 In $100 shares was underwritten at $12 a share
discharge equipment obligations ($1,266,366). Ac. Y. 102. p. 344, 885.
BON DS.—First
and
Refunding Bonds.—When
Issued
will
be
a
(b) Voir future improvements, ex
be fixed at time of
Issue, not to exceed 6%.
Y.103.P.405.
Callable at 110 A Int. Nov. 1920
to 1925; at 105 A Int. 1925 to 1935. and thereafter at 102)4
On Dec. 31 1920 $1,424,000 First A Ref. Mtge. bonds bad been issued,
but none bad been sold; $530,000 pledged to seucre notes of $365,000, and
$295,000 and $400,000 incomes pledged to secure notes of $200,000.
Income
Bonds.—Entitled to non-cum. interest (paid semi-annually)
at
such
rate, not exceeding 5%
per
annum,
as
may
be declared
(V. 101, p. 2143).
The mortgage provides that
net Income, as de¬
fined by the I.-S. Comm. Commission, as available for that purpose, shall
be so declared
by the Board.
The board may, however, reserve Id
any
year
from such "net income" not in excess of 20%
thereof,
(but not to exceed $100,000 In any year). until the total amount so reserved,
exclusive of interest, shall reach $300,000.
This "Income Bond Reserve
bam
Ry. $4,090,000 1st 5s due 1934.
ATLANTA
93.19
m.
& WEST POINT RR.—Atlanta, Ga.. to West Point, Ga..
The Georgia RR. A Banking Co. owned $936,100 stock, but sold
in 1910-11 to the lessees at $135 per
share with option of repurchase
same price.
Annual compensation under Federal control, $252,995;
(contract signed).
The company refused the six months extension of the
same
at
guaranty.
In Mar. 1920 announced that the Georgia RR.. the Atlanta A West Point
and the Western Ry. of Ala. would in future be operated in close organiza¬
tion independently.
The three properties will be directed as to operation
from
Atlanta.
Ga.
DIVIDEND^.—From July 1 1884
firsi
mortgage on 300 miles of main-line
track and second mortgage on
837 miles, and upon the terminal properties in Birmingham and Atlanta
To be issued only (a) to retire, at or before maturity, Atlantic A Blrmlng
tensions and acquisitions under restrictions. Int. rate to
ATLANTA TERMINAL CO.—Owns union passenger station opened
May 14 1905, with approaches, used by Southern Ry., Central of Georgia
Ry., Atlanta A West Point RR., Atlanta Birmingham A Atlantic Ry. and
Seaboard Air Line Ry.
Stock, $150,000, owned in equal proportions by
the first three companies named.
The stock receives 4% p. a., payable
Mar. 1 of each year, charges and expenses being paid by the five using
companies on car basis.
The $1,000,000 Series "A' 6% bonds are guaran¬
teed p. A i. by the three Companies owning the stock.
They were issued to
retire the $1,500,000 First Mtge. 4s due July 1 1953.
Secured on entire
terminal property.
V. 109, p. 577, 1271.
President, R. B. Pegram.—V.
105. p. 2093; V. 107. p. 904;T. 109, p. 476, 577. 271-.)
J. A J.;
Oct. 1 1899,25% extra;
to
1902 to
July 1901. inclusive. 6% yearly.
Dec. 1920. 6% yearly.
1
—Jan. 1—Dec. 31
19201920.
1919.
Jan. 1—Mar. 31
EARNINGS—
Gross
Net after taxes
1921.
$641,409
12.881
$782,320
$3,040,400
188,985
445,530
$2,778,563
621,138
Year ended Dec. 31 1920:. Gross, $3,070,108; oper. income, $342,293;
other income, $304,445; deductions, $192,399; net income, $454,339; divi¬
dends, $147,816; surplus, $306,523.
1288.)
Pres., C. A. Wickersham.—(V, 110,
P.
ATLANTIC
CITY
RR.—Camden toAtlantfo City.58.3$miles; branches
Wlnslow Junction to Cape
May, N. J.,
55.80 miles:
Wllllamstown,
12.87 miles* Gloucester, 10.85 miles;
Sea Isle City, 12.35 miles; Ocean
City, 10.16 miles; tota 1,170.18 miles.
V.72, p. 1278.
STOCK, common.
12.625,000; pref., $1,000,000 (par, $50). Reading Co. owns over 99% ol
stock, and guarantees consol. 4s, prln. and int.
Form of guaranty, V.
75. p. 1398.
Of the latter, $2,649,000 are reserved to retire prior lien
bonds.
Y. 73, p. 81.'
There are $22,800 Sea Coast "A" 5s; $l,20o *B" 5s
Miles
6]
All Coa«t Line RR {ConcD
Bonds to be
cona
—
Date
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
and
closed...F.xc^ficr*
3,941
1883
■
69
69
olass B g (Petersburg to
'
27
479
91
•
Alabama Midland 1st M g
Florida So
Where Interest and
Dividends
Payable
are
Second Mortgage debentures
Atlantic & St Lawrence—Stock
A
5
1886
1.000
1888
1888
1895
500 Ac
-
400,000
5 g
1,000
1,000
1.000
1,000
1
1
1945
1924
1
J July
J July 1
1 1948
1948
1,000
325.000
£100
2,548,675
A
J
J
fit
J July 1
5
100
5,484.000
303,000
1,022,900
£ ft $100
Ac
1921
July 1 1922
J
Text
1919
* J Jan
fit
6 5T
text
-
•
«*
—
-
5 g
225,000
4 g
J
225,000
J
*
1,250.000
890,600
5*7
J
A
J Jan
1.000
»
1894
230.000
J
A
J July i
alt fit Curnb Vail Ry—See Western Maryland Ry
Saltimore Chesapeake St Atlantic—1st M gold Mp.zo*
B & C V RR Exten—Stock gu ($270,000 carries 7%).
First mortgage Interest rental
....
MeBa
Salt fit Harrisburg Ry—See Western Maryland Ry
x Further $388,750 in treasury Dec. 31 1918.
1881
26.5
0
fit
Portland
and
London
Nov 1 1917 coup last paid
234 Savannah. Ga
Safe Dep ft Trust
Co.Balt
J
1,000
8 H
6 ff
1,000
17.7
88
See text
J July 1 1953
ftc
50
Austin St N W—See Houston ft Texas Central
Avon Geneseo St ftIt Morris rr—Stock (see text)
Equitable Trust Co
134 Check from Go's Office
N Y. Equitable Trust Oo
3%
MAN May 1 1952
&
J Jan 5 1921
100
1903
do
Co. N f
Bankers Trust
1935
1921
J
6
do
1949
w'
MAS Mar
6
do
do
J Jan
g
Co
Metropolitan Tr Co. N Y
United States Tr Co NY
A
4
Tr
&
do
1928
Jan
Dep
do
1 1930
1 1938
Nov
A
1.000
100
53
Jan
Jan
A
1917
500
First Nat Bk. NY
Safe
A
J
275.000
1904
1912
NY
ABalt
Bait
Centra! Union Trust, v y
Safe Dep ft Tr Co, Bait
United States Tr Co, N Y
Brown Brothers.
1 1940
1 1935
Aug 1 1947
O Apr 1 1939
J Jan
1 1940
O Apr 1 1934
Apr
J July
A
J
4 g
3,925.000
J
4 g
1,525.000
1,797.200 3 In 1920 J
1894
167
24
A
A
0,500,000 5 g ft 6 g A
J
A
J
7 g
1,500.000
J
A
J
4 g
1,407,000
MAN
5 g
2.800.000
4 g
J
A
J
2,418.000
1900
—
J
g
1.000
1.000
1905
105_..FBac*
Augusta fir Savannah—Stock 5% rental Central of Ga
Augusta Southern—See Georgia & Florida Ry.
Augusta Union Starion—First M $250,000 goid.SBax
A
1,314.000
1.000
98
6% rental Grand Tr'k
4
J
1.0(10
145
Atlan & West'n—1stM$l,500.000g red
A
g
278
278
gold
PePx
Int rent-.Baxc*
Seoond mort $1,525,000 gold lnt rental
Eq.xc*
Atlantic Sc. North Carolina—Stock 11,800.000
1st Mtge $325,000 g guar p&l by Norf So.Eq.yc*
Atlantic Quebec & We»t—1st M callable 110
c*
g J
P
4
1884
244
AB.zc*
1st M gold
O
& 6
106.000
167
Sanford ft St Petersburg first mtge
A
4.000.000
111
Atlantic St Danv—1st M $4,425,000 g
A
g A
1.000
543
(Balnb to Montg)_.Mp.xc
A
4 34
5 g
6 g
J July
A
NY
NY
ft Tr Co. Balto
Meron Nat Bk, Rloh'd.Va
do
do
Safe Dep
1 1948
j July 1 1926
O Oct
1 1920
800.000
300.000
1889
1896
174
J
United States Tr Co
J
g
1.000
4 g
United States Tr Co
MAS July 1 1952
1 1933
ft
J Jan
g
6 g
4
•
1.000
110
110
mortgage gold
SBa.zo*
Sav Fla A W 1st M g ($2,444,000 are 5s) .Mp.xo*&r
Charleston ft Savannah gen mtge gold...SBa.zo*
Bruns ft W 1st M (Brunswick to Albany)g gu Mp.zc
Second
>
1898
1881
1881
1890
1885
1897
698
»
Weldon) .z
Richmond & Petersburg Consol M g
Ce.xo*
WUm ft Weldon Gen M ($938,000 are4s) g.SBa.zc*
Wilmington ft, Newbern 1st M gold assum..SBa,z
Nor ft Car 1st M gold (P Pt Va to Tar. N O-Ce.zc*
Petersburg M olass A gold
4
$1 OOO&c x$5 0938000
057,000
1,000
*6,547.000
1,000
868.000
1,000
1902
102
Flor to Charleston.xc
Atlantis C L of S CGen 1st M(1st on 594 migSBazo*
do
Places
Lj
Refunded by General Unified Bonds—
(l»t M on 1,087 miles)
North Bast (S C) Oons M gold
do
Dividend
Maturity
Last
Road
RAILROAD COMPANIES
[For abbreviations, Ac., see notes on page
Fimt
[Vol. 112.
RAILWAY STOCKS AND BONDS
12
July 1 1921 1H Erie Railroad. New York
Phila
and
New
York
MAS Sept 1 1934 •
•
11921
1931
office, N Y
Company's
Nat Bk Commerce N Y
*
The 1st 5s due May 1
1919 were extended at
1
unconditionally
108. p. 1721.
534% interest until May
and after May 1 1924), and
guaranteed, principal and interest, by the Reading Co.
V.
1929 (subject to call at 105 on
—Jan. 1—Dec. 31.—
1920.
1920.
1919.
$759,286 $4,667,231 $4,452,164
Net after taxes
def.303,725
def.54,002
325,669
849,419
The company refused the six months extension of the Govt, guaranty.
—(V. 82. p. 750; V. 108, p. 1721.)
—Jan.
1—March 31.—
1921.
EARNINGS.—
$705,202
Gross...
ATLANTIC COAST LINE CO.—Organized May 29 1899 In Connecticut
and owned June30 1920 $19,930,827 common stock and a large amount of
bonds of Atlantic Coast Line RK.—see below and V. 109, p. 1726.
98, p. 234. 609. .
Oct. 1897, Supple¬
$5,000,000 stock was
1900 $10,000,000 4%
certificates of indebtedness (including $2,500,000 of Atlantic Coast Line
RR. Co.) as a 100% dividend.
(V. 71, p. 697; V. 73. p. 493.)
OASH
1*02. '03. *04. *05. '06. *07. *08. '09. *10. *11. *12 to Mar. 1921
DIVS— %/634
8
8
9
10
10
8
9
10
10
12 yrly (3 Q-M>
REPORT.—For year ending June 30 1920 In V. Ill, p. 1746, showed:
STOCK. &c.—Reduced in 1914 to $8,820,000.
V.
to the certificates of indebtedness, see editorial
As
ment, p. 3; V. 65. p
564; V. 71, p. 1310.
In 1898
distributed as a 100% dividend (V. 67, p. 954). and In
1919-20.
1Q1S-19
1Q1Q-90
1918-19.
credits_$l,910,143 $1,870,980 Divs. (12%)— $1,058,400 $1,058,400
394,048
394,048
Total deduc'ns
417,403
418,531 Bal. over divs_
Net income
1,492,74®
1,452^448 Tot.p.fic l.sur .14,792.066 14,241,671
Chairman, Henry Walters'.—V. Ill, p. 1471, 1746.
Total
ATLANTIC COAST LINE RR.—(See Map.)—Operates from Richmond
and Norfolk, Va., to Fort Myers, Mooreharen, Port Tampa and River Jet.,
Fla,. on the south, and Montgomery, Ala., and Augusta, Ga., on the west,
reaching the ports of Norfolk, Va.; Wilmington, N. C.: Charleston. S. C.;
Savannah and Brunswick, Ga., and Jacksonville and Port Tampa, Fla.
Lines owned, Ac. {Con.)—
Miles.
Linee owned and trackage—
Miles.
907
Fla
Norfolk,
Va.,
to South
Rocky
Mount
CJontentnea to Wilmington
115
105
Junction
Sumter to Columbia
to
Palatka, Fla., to Brooksvllle..
Mllldale, Fla., to Perry
Branches, <fcc
145
145
163
1,799
Leased—
Wilmington, N. C., to Pee Dee
Florence, S. C., to Augusta, Ga.
near Sanford
St. Petersburg, Fla
Lake
Sylvau
Richmond. Va.. to Port Tampa.
97
167
45
Central
RR. of So, Carolina—
Lanes to Sumter S.
Other
40
C
12
lines..
Yadkin Jet. (Wilmington, N.C.)
to
34
355
169
349
Haines City to Harrisburg
Also owns one-sixth Interest in
Tot. miles oper.
Dec 31 1919.4,893
Closely allied lines (see each oo.)—
Louis, ft Nash. (incl. all cos.) .7.675
Charleston ft Western Carolina.
343
Northwestern
RR.ofSo. Car_.
81
901
the Richmond-Washington Co.
Leases,
lolntly with the Louisville & Nashville RR., the Georgia RR., 571 miles.
In 1918 opened a line from Sebring, Fla., to Moore Haven, 59.70 miles.
V. 103,p. 577.
New station In Richmond, Va. V. 108, p. 266.
The Tampa Southern RR. Co., an auxiliary company, In 1917 let con¬
tracts for a 50-m. line from Tampa, via Orient, to Palmetto, and in April
operating from Uceta to Palmetta, 35.6 miles.
In Jan. 1920 the
line between Palmetto and Bradentown, Fla., was completed and placed
In service. V. 105, p. 2457.
1919
was
absorbed by consolidation (V. 70.
ft Weldon RR., Atlantic Coast Line RRs. of S. CD
Florida Southern and Sanford 4 St. Peters
merged April 1903.
V. 76. p. 918, 971.
The Atlantic Coast
(of Conn.) June 30 1920 owned $19,930,827 common stock-
ORGANIZATION.—On April 18 1900
p. 840. 893), Wilmington
and Va. and Norf. ft Car.
burg
were
Line
Oo.
RR.
S17,640.000 having been 70. p. 893: V. 71, 10 1914 among Its 83. p. 500.
stockholders,
that
above.
V. distributed Mar. p. 1116. 1310.V
ee
co.
In Oct. 1902 acquired
ville RR. stock and In
$30,600,000 of the $60,000,000 Louisville & Nash¬
1913 an additional $6,120,000.
On Dec. 31 1919
$306,000 stock of Louis¬
this $30,720,000 stock was on deposit along with
ville Property Co., as security for the company's
$35,000,000 collateral
V. 7o. p. 733, 792, 905; V. 79. p. 785.
STOCK.—Atl. Coast Line of Va. class A (Rich, ft Pet. ctfs.) tax-exempt
■took was assumed as so much of the com. stock of the new company.
DIVS. (%) —'06. *07. '08. '09. '10. '11. *12-'14
*15. *10. '17 to Jan. '21
Com.dnol.Cl.A.) 6
6 &534 5*
6
0
7 yrly
5
5
7%(3^%s.a.)
Also in 1905 20% in com. stock scrip and 5% in Atlantic Coast Liu* "o.
trust 4s of 1902.
4% certificates of indebtedness.
V. 81, p. 1558. b Includes 3% pala In
Jan. in Atlantic Coast Line RR. 4% certificates of indebtedness.
BONDS.—In April 1914 the
Uulfled Mortgage of 1909 was closed and
a new $200,000,000 General Unified
Mortgage was made permitting (unlike
the mortgage of 1909) the issuing of bonds in series at various rates of Interest
The old Unified 4s held by the RR. Co; and the Atlantic Coast Line Co.
($21,330,000 and $3,008,000) were exchanged at once for new Series A
434s, $ for $.
V. 98. p. 761 1070, 1154, 1213: V. 100, p. 1916.
Listing,
see V. 103, p. 2237.
The Unified Mtge. was cancelled in 1920.
V. 110,
p. 2386.
Of the $50,021,933 General Unified bonds issued to Dec. 31 1919,
$23,019,000 were on that date in hands of public ($22,919,000 at 434%
and $100,000 at 4%) and $27,002,933 434s were held in the treasury.
V. 106, p. 2235.
Purposes for which the $200,000,000 General Unified Bonds were or are issuable
Issuable as Ser. A 434s to refund $30,719,484 Unified 4s
$30,847,484
Reserved to retire 4% certlfs. of indebtedness, pref. stock and
debenture bonds
_
4,763,960
Reserved to retire underlying bonds
84,438,650
Reserved (along with any bonds not Issued to retire certificates
of indebtedness) for future construction, improvements. &c__ 79.749,800
The 10-year secured notes of
1920 are redeemable on and after May 15
of 1% for eacn year to maturity. Se¬
Unified 434s. 1964. V. 110, p. 2075.
1923 at 100 and int. plus a premium
cured by pledge of $10,000,000 Gen.
were
con-
►
As
the
to
of 1911, due 1921.
Equipment bonds (434 g.)
,rD", V. 112, p. 60.
Equipment
trusts
issued
See V. 93, p. 1323.
Series
to
Director-General
for rolling
allocated to this company.
See article on page 3.
Federal Compensation.—$10,185,942 yearly during Federal control
stock
(con¬
tract executed).
—Jan. 1 —March 31—
1921.
1920.
LATEST
EARNINGS—
—Jan.
I—Dec. 31—
1920U919.
$19,886,973 $19,677,160 $73,633,762
2,477,935
3,407,735
"4,051,059
Gross
Net after taxes
REPORT.—For calendar year 1920, at length
1920
xl919
$63,558,451
7,528,992
in V. 112, p. 2181.
xl918
1917
receipts..
$74,121,956
Oper. exp., taxes, &c... 72,246,736
$63,558,452 $56,992,329 $44,063,331
56,345,437 45,366,201 32,049,589
$1,875,220
1,684,187
$7,213,015 $11,626,128 $12,013,742
10,180,915
10,180,915
1,364,989
1,317,829
2,608,818
2,570,400
2,570,400
2,570,400
Gross
Net
earnings
Federal
compensation
.8,802,972
Other income
Div. L. & N. stock (7%)
2,890,384
income...„.__$15,252,783 $14,116,304 $14,069,144
Interest on funded debt. $6,028,525
$6,042,301
$6,050,981
Other interest
902,541
92,773
47,446
Rentals, &c
431,153
692,530
685,885
Preferred divs. (5%)...
9,835
9,835
9,835
Common divs. (7%)
4,801,034
4,799,158
4,799,158
Divs. R. & P. "A
stock
(7%)70,000 (7%)70,000
Gross
$17,192,960
$6,050,657
60,183
380,826
9,835
4,729,109
(7%)70,000
Balance, surplus
$3,079,692
$2,409,707 $2,405,839 $5,892,350
x Results under
Federal control.
Comparison with earlier years faulty.
Henry Walters; Pres., J. R. Kenly; V.-P.,
Gen. Mgr., P. R. Albright; V.-P. & Sec.,
T. Reid; Aud., J. E. Shannon: Gen. Coun¬
sel. Geo. B. Elliott.—(V. Ill, p. 72. 293, 1471, 1751, 2519; V. 112, p. 60.)
OFFICER8.—Chairman,
R. A. Brand and Lyman Delano;
Herbert L. Borden; Treas. John
ATLANTIC
&
DANVILLE RY—West Norfolk
miles; three branches, 22.25 miles; James River
205.1
Danville. Va.,
Jet. to Claremont
to
gauge), 50.36 miles; total, 277 miles.
Leased to Southern Ry.
from Sept. 1 1899 to July 1 1949 for taxes, repairs, maintenance and cash
rental sufficient to cover Int. charges, with privilege of renewals for terms of
(3-ft.
116
Sanford
Waycross, Ga., to Folkston, Ga.
Jesup, Ga., to Montgomery. Ala.
Brunswick, Ga., to Albany
Dupont Jet. to Fort Myers, Fla.
and
convertible debentures are redeemaole at 105
V. 97. p. 1513.
Jan. 1920.
41 Arrran lwotlntl'1
$35,000,000 collateral truBt 4s of 1902, see "Organization*
above.
They are subject to call at 105 in amounts not less than $100,000
The Washington 4 Vandemere 4 3$s ($1,500,000 authorized, of which
$720,000 outstanding) are guar., p. 4 1., by endorsement.
V. 84, p. 1240
As to Winston-Salem South Bound RR. guar
4« see that company.
The 4%
vertible into common stock at $135 a share to
99 years.
dends on
In addition the Southern Ry. agrees to pay the same
stock as paid on Its own com, stock. V.71,p,417;
provisions of lease, V. 95, p. 1606.
com.
rate of divi¬
V.79,p.625,
Suit to enforce
BONDS.—Of the $4,425,000
4s of 1900, $500,000 can be
Issued only for
to be covered
Improvements upon request of Southern Ry.. Interest charges
by increased rental.—(V. 89, p. 1410; V. 95, p. 1606.)
ATLANTIC &
N.C.t 96 miles.
NORTM CAROLINA RR.—Morehead City to
Stite of No. C >r. Aug. 1917 owned $1.266,500
Goldsboro,
of $1.797.-
Leased from Sept. 1904 to Jan. 1 1996 to
(the lease being later transferred to Norfolk
Southern RR.) for Int. on bonds, taxes, &c., and dfvs. at 3% for 20 years,
then increasing 34 % every 10 years till 5% is reached; thereafter 6%
DIVS.—
'93.
'94.
'95.
'90.
'97.
*98.
'99.
1900-04. Under lease
Per oent
2
2
0
2
2
2
2
0
as above
The 1st 6s are guar. p. <fe 1. by Norf. So. RR. (V. 105, p 714).
200 stk.
V. 96. p. 862, 1088.
Atlantic & North Carolina Co.
ATLANTIC QUEBEC
&
WESTERN RY.—See page 139.
RR.—Sanford to Lillington, N. C., 24 m.;
$100.
Bonds issuable at $12,000 per mile.
See
table above.
For year 1918, gross, $38,139; net, $4,831; charges, $19,573;
bal., def., $14,466.
Pres. H. C. Huffer, Jr., 366 Madison Ave., New
York; Sec. & Treas., W. R. Sullivan, 31 Pine St., New York.
Annual
compensation under Federal control, $12,660.—(V. 95, p. 1038; V. 108,
p. 2021; V. 110, p. 2386.)
ATLANTIC & WESTERN
Stock,
$303,000;
par,
AUGUSTA St SAVANNAH
RR.—Milieu to Augusta, Ga., 53 miles.
In
101 yrs. at 5% on stock.—(V. 106, p. 709.
1895 re-leased to Cent, of Ga. for
AUGUSTA SOUTHERN
RR —See Georgia & Florida Ry.
AUGUSTA UNION STATION CO.—Owns union passenger station at
Augusta, Ga., used by all roads entering the city, the latter under their
operating contract providing for Interest on the bonds and 4% dividends od
took
Stock, $75,000 (25% oald int
iheld equally by Southern Ry.. Atlan
tic Coast Line RR. and lessees of Georgia RK
V. 78. p 2333; V 79 p 500
Pres., Chas. A. Wickersham: Sec.,
W. H. Vincent.—(V.82,p. 43.)
AVON QENESEO&MT. MORRIS RR.—Mt. Morris
Leased to Erie RR. Feb. 26 1896 In perpetuity;
miles.
3 34%
on
to Avon, N.Y.. 17.7
rental (after 1911),
stock;—(See V. 63, p. 512; V. 62, p. 318, 589.)
BALTIMORE
CHESAPEAKE & ATLANTIC RY.—Owns Claiborne to
87.06 m.; Salisbury, Md., tp Fulton. 0.55 m.; from Clai¬
transfer Is made by water; steamer lines owned.
Ocean City, Md.,
borne to Baltimore, 44 m.
61 miles.
The Penna. and allied cos. own all
95% of the $1. mJO.OOO 5% cum pref. stocks
525, 59a.
Dlv. oo pref., 2% Mar. 1 1905; In 1900. Mar., 3%;
Oct.. 2%; In 1907. Mar., 3%; Sept., 2%; In 1908. Oct., 2%; 1910, Jan.. 5%:
Sept
2%: 1911. Jan. 31. 3%: Mar. 31. 2%; Oct. 2. 3%: 1912. July 1.
234%: none since to May 1921.
Federal compensation. $36,647 yearly
during Federal control (contract executed).
Jan. 1—Mar. 31
Jan. 1—Dec. 31
LATEST EARNINGS—
1921.
1920.
1920.
1919.
Gross
$320,354
$257,706
$1,675,099
$1,603,332
Net after taxes
def74,188
defl02,986
defl51,641
def55,427
m ' total of all, 1.203
$1 noo O00 common and
1,116
one
V. 92,
p.
13
RAILWAY STOCKS AND BONDS
May, 1921.]
RAILROAD COMPANIES
Milts
Date
Par
Amount
Rate
When
[For abbreviations, Ac., see nores on page 6]
Road
Bonds
Value
Outstanding
%
Payable
{210.250,000
Pref stock 4% non-cum authorized {60.000.000
Prior Lien mtge gold (closed) not call
Ba.xo*Ar
First M gold red at 105 after July 1923-- lis.xc* &r
SouthwDlv 1st M{45.000,000g
Fxc*Ar
Pitts June A Mid Dlv {20.000.000 1st M g_Ce.xo* Ar
P L E A W VSys ref g red 100 after 1925-Un.xc• Ar
Convertible bonds redeemable (text)„Ce.xc*Ar*
RefAGenM 8er A g (call, all 105 beg'25)ya.c*Ar*
Toledo-Clncinnat Dlv./Ser. A call 102)4_Bayc*Ar*
Collat trust M (closed) g call 101 (Coal A Coke Ry
Secured Gold bonds call 102
(text). Usm.xxxc*Ar*
Underlying Toledo A Cincinnati Die. Mtge.
Oin Ham A Dayton 2d (now 1st) mtge gold__Fxc*
General mortgage $7.800.000 gold
xc*
O H A D Ry 1st A Ref M. part guar __Ba.xc*Ar*
Plqua & Troy 1st M $250,000 gold guar p A L__xc
Dayton A Michigan (leased) com stock (guar)
Preferred (8% guaranteed)
endorsed
1,091
1,675
1898
1898
920
1899
380
1898
1,647
1901
text
1917
)
...
100
1919
Ac
4g
J
6 g
6
A
A
4H
g J
A
5 g
A
A
M
A
50
3H
A
A
O Oct 1 1920.
1881
1.000
2.396.950
1,211.250
2,728.000
1886
1.000
1,000
1,000
1,009.000
934,000
5.000.000
890.000
950.000
50
198
198
1896
1900
1.000
Ba.xo* Ar
{250,000 red 105 g__z
Ohio River 1st M g
FP.xc*
General mtge gold 1st on 39 miles
xo*
Huntington A Big S 1st M g guar —
xc*
83
72
1895
1900
166
1886
1887
11
1892
x
48
1882
Ox
In addition $8,711,550 pledged as part collat. for
3
1892
1,000
Ohio A Little Kan Ry 1st M
A Tol
1st M g
Ellwood Short Line 1st mtge gold
1919,
Govt,
compensation.
$86,647;
charges, $181,078; bal., def., $80,371 (charged to
Turnbull Murdoch; V.-P
A. J
County; Sec.,
,
112,
Jas. F. Fahnestock.(V.
p.
Pitts.
L. E.
A W.Va
other Income, $14,060!
profit and loss).
Pres.,
Lewis Neilson; Treas.,
1282.)
BALTIMORE & CUMBERLAND VALLEY RR. EX TEN.—Waynes¬
boro to Shippensburg, Pa., 26.52 miles.
Leased to Western Maryland RR.
for 50 years from July 1 1881, with privilege of renewal, for Int. on bonds
•nd dividend on stook, amounting In all to $38.730.—(V. 75, p. 665.)
BALTIMORE
&
OHIO
RR.—(See
Map.)—Operates from Balti¬
to Philadelphia and Baltimore to Chicago, Cincinnati and St. Louis;
1920, 5,155 m. "Royal
more
total mileage leased, owned and operated on Dec. 31
Blue Line" (see Central RR. of N. J.) gives access
The system
to New York.
Oumb. to Plttsb. A W., Ao
Pittsburgh A Western
xPlttsh. Cleveland A Tol. Br_xPlttsb. Palnesv. A Fair. Br_-
lsf Mlge. 4%—(583 miles)—
Bait, to Phila. and branches—
204
Monongahela River Br
xClev. Terminal A Valley
M,—(1,091m.)Miles.
Belpre.O., Ac. 761
331
133
Chicago, 111., to Akron, Ohlo__
364
Branches to Fairmont,W.Va.. Ac. 84
South W. Div. 3H%
M.—
37
83
Wheeling to Cleveland, Ac—
West Virginia
Includes 380 m., also covered by
198
264
62
Short Line Br
xOhlo A Little Kanawha
72
Brn—
70
xOther purchased lines
Lines Under Other Mtges.—
Toledo
390
Division
Coal & Coke Ry
Sundry branches, Ac
-
197
344
5,171
Total of all
x
48
60
xCleve. Lorain A Wheeling Br—
xOhlo River Lines—
Belpre, 0.,vla Cine, to St.L.. Ac. 920
Pitts. Jet. 3 H % M.—(380 miles)
Bellalre to Midland City, Ohlol
Shawnee to Sandusky, Ohio—J
374
Pittsburgh Junction RR
6
P.L.E.&W,V.SysA% Af .(*l,647m.)
West Virginia A Pittsburgh—
177
Pitts. Jet. 1st M.
The company has purchased these lines. Long
a See this company,
Fork Ry k V.109, p.1980.
$8,000,000 stock and $32,000,000 of Its
4% bonds.
See below.
Sandy Valley A Elkhorn Ry. See V. 100. p. 307.
Effective April 28 1918, was ordered by Director-General of Railroads to
use the Penn. RR. passenger station in N. Y. City.
V. 106. p. 1688. 1795.
Owns B. A O. Chic. Term. RR.,
HISTORY.—Receivers were
appointed In Feb. 1896. but In 1899 reor¬
ganized without foreclosure, per plan In V. 66, p. 1235.
See also V. 67,
p. 688, 1206. 1356: V. 95. p. 681, 1121. 1744; V. 96. p. 134; V. 97. p. 363.
The purchase of the Cln. Ham. A Dayton (now Toledo A Cine. RR.) on
July 19 1917 added 390 miles to roM'i operated (see "Bonds" below: also
V. 103, p. 1991; V. 107, p. 1283.)
On Feb. 1 1917 also acquired entire capital
stock of Coal & Coke Ry. (which see), 197 miles, operated separately.
Pur¬
chased the Morgantown & Kingwood RIi. in Feb. 1920. v. 110, p. 969.
(virtual control) of the {140,000.000 Reading Co. stock, consisting of {12,130.000 1st pref., {28.530,000
2d pref. and $27,905,000 com., was acquired jointly with the New York
Central RR., each co.,taking one-half, but In 1904 each sold $3,950,000
of the common.
V. 76, p. 101; V. 80. p. 1856.
READING CO., Ac.—In 1901 {68,565,000
8TOCK.—Pref. stock, see V. 71. p. 1166. 1143;
V. 72. p. 1186.
$1,805,992 pref.
Union Pacific RR. In '19 owned $3,594,035 common and
DIVIDENDS.
1900.
1901-04.
1905.
1906.
1907-14.
6 yrly.
4 yrly.
1915-17.
5 yrly.
4 yrly.
1918-20.
text
(%)
2
4 yrly.
4H
5H
(%)
4
4 yrly.
4
4
4
pref. dividend has been paid as usual to and including Mch. 1921, but
owing to delay in the signing of the contract for Government operation
the common dividend due Sept. 1 1918 was not paid until Feb. 1 1919, when
only 2% was distributed.
On Mar. 1 1919 the common again received 2%.
V. 108, p. 377; V. 107, p. 2374, 1747, 400, 295.
In June 1919 the directors decided temporarily to suspend dividend pay¬
ments on the Common shares in order to set aside part of the road's income
Common
Preferred
The
for
capital expenditures so
under existing conditions.
that the company's credit should not be
V. 108, p. 2628; V. 109, p. 269.
BONDS.—(1) Prior Lien 3H%. » first lien on main line and
Parkersburg branch and Pittsburgh division, about 1,092 miles of
extended
branches.
first track
and 1,772 mi'-s of second, third and fourth tracks and sidings, and also all
the equipment now or hereafter acquired.
Total auth., $75,000,000.
See
application to list. V. 69. p. 30; V. 78. p. 1906; V. 86. p. 1528; V. 86. p. 36.
lien on the Philadelphia.
Fairmont Morgantown A
Pittsburgh RR.. covering about 581 miles of first track and about 914 miles
of second, third and fourth tracks and sidings; also on the properties covered
by the B. A O. Term. Mtae- of WS94. all owned by the B. A O. and Balti¬
more Belt RR.
Also a Hen, subject to prior mtge., upon main line, Ac.
V. 69. p. 30; V. 79. p. 211; V. 97. p. 297. 594; V. 102. p. 1435.
Total issue closed at $82,000,000 (V. 104, p. 1044), except for $75,000,000
(2) First M. 4% Bonds, Due July 1 1948; a first
Chicago and Akron divisions and branches and the
reserved to retire prior Hen bonds in
1925.
Southwestern Division lsf Af. 3H*A first collateral
former B. A O. 8. W. system, 920 miles of 1st track
576 miles of 2d track and sidings.
All Issued
(8)
upon
lien
and
45.000.000
(4) B. A 0., PiUsb. Jet. A Mid. Div. 3 Ms,
Expected to be ul¬
timately a first lien upon the railroads of the Central Ohio
system and Pitts. Jet. RR. Co., 380 miles In all.
Total
$20,000,000
$6,124,500 Is In hands of the public and $8,712,550 pledged under Pltte.
lake Erie A W. Va. 4s. Closed except to retire underlying bonds, see table.
(5) Pittsburgh Lake Erie A West Virginia System mtge. refunding 4% gold
bonds (authorized amount $75,000,000)
are
a
lien on
1,647 miles,
forming a direct connection with Pittsburgh, Cleveland, Fairport, Lorain
and Sandusky, subject to underlying bonds outstanding thereon (see table
above).
In Dec. 1920 $44,064,892 additional underlying bonds. Including
$8,711,550 Plttsb. June. A Middle Dlv. 3 He, were held In trust as part se
The unissued bonds are reserved to retire underlying bonds
V. 74,_p. 266; V. 79, p. 2793; V. 80, p. 1423; V. 86. p. 479. 1528; V. 87
p. 36; V. 88. p. 451. 685; V. 105, p. ?15.
curity.
A
A
o Oct
J
s
Sept 1 1930
A
J
A
J
July 1 1922
July 11922
A
D June
g J
M
A
J Jan
A
N Nov
M
A
S Mch
5 g
5 g
J
A
D June
A
A
6 g
J
A
O Apr
J July
6 g
5 g
A
A
O Oct
J
A
J Jan
4*
4g
6 g
c
M. A N.:
Ooups.
(7) Convertible
20-year
do
P Morgan A Co, N Y
reg.
do
do
do
do
do
do
do
do
do
11933
11936
1930
1995
1950
1938
1937
1922
1922
do
do
do
do
do
do
do
do
do
do
do
Office, 2 Wall St, N Y
Go's office. 2 Wall St. NT
11922
Int. Q. •P.
11 Reg Int. Q.-J.
$63,260,000.
4Hs
Office, 2 Wall St. N Y
dated
March 1
1913. will
up
to Feb.
28 1923 at $110 per
March 1 1923 at 102HThese 4)4s are
secured by the new blanket mortgage below described pari passu with the
new bonds.
See V. 96, p. 134. 200. 651. 715, 1088, 1421; V..97, p. 727.
Schuylkill River East Side 4s.
V. 77. p. 1746; V. 81, p. 727.
convertible
be
into
common
stock
share and redeemable beginning
(8) Refunding A General Mortgage of 1915 due Dec. 1 1995 (V. 101, p. 1884)*
The initial $60,000,000 5% bonds of this Issue was brought out in Dec.
See below; also V. 101, p. 1884; V. 102. p. 975; V. 103, p. 1989.
In
June 1919 an additional $15,000,000 was pledged as part collateral for
1915.
$35,000,000 Secured Gold bonds.
I.-S. C. Commission in Jan. 1921 authorized the company (1) to
Ref. & Gen. Mtge. Series "B" 5% bonds, for the pur¬
of retiring by exchange an equal amount of Ref. & Gen. Mtge. Series
1'A" 5% bonds; and (2) to pledge $3,000,000 Ref. & Gen. Mtge. bonds,
Series ,}A," and $10,000,000 Ref. & Gen. Mtge. bonds, Series "B," as
security for Its $9,000,000 prmissory note to be issued to the DirectorGeneral of Railroads.
Additional $5,000,000 Series B pledged with Govt*
to secure $3,000,000 loan.
V. 112, p. 468.
The
issue $3,000,000
pose
embraces, subject to mortgages, the following lines:
PrMen 3H%
Bait .to Wheeling.
A
J
5 g
5 g
441.000
Sys. 4s.
Un Sav Bk A Tr Oin Co,
1H Cincinnati, Ohio
m d M
J
a g
J
5 g
300.000
208
1.000
1.000
1.000
1.000
1.000
1.000
July 1 1959
A
Q—J
4K
8.301.000
228.000
2,000.000
2.941.000
303.000
— —
J
Oct I 1920. 2%
J Jan 1 1931
J
8
243.000
N xc
Eq.xo
redeem 105
New York
N Nov 1 1939
1871
1871
1.000
1.000
•
J P Morgan A Co. N Y
Kuhn Loeb A Co., N Y
1 1937
D June 1 1942
J
1899
do
do
J Jan
J
87.000
do
do
Go's office. 2 Wall St.NY
Cos office N Y A Bait
143
General mortgage g
do
do
-
July 1 1959
O April 1 1924
J July 1 1929
141
Cons Ref M gold red at 102 H
Cleveland Term A Valley 1st M gold guar.
Payable
J
4
9
Where Interest and
Dividends are
1995
4 g
1892
1909
1882
6
Pittsburgh Junction 1st M gold
-—Ba.xo*
1894
6
Pittsburgh Junction 2d M gold
Ba.xc*
is¬
Bonds Underlying Pittsburgh Lake Erie A West Vir ginia
ms
198
Olev Lor A Wheel oons M (now 1st) gold.Usm.xo*
year
1
7.000
60
Cent
In
D Dec
2.000.000
3,000.000
1887
All
Places
1941
8 Mch 1 1933
A
J
N Nov
A
g
1,000
1.000
$ A £
1,000
60
1st
•
A
5 g
Bo
Pitts b C1
A
4H
60,000.000
10,985 200
3,000.000
35,000,000
1,000
1,000
1919
A
M
63.250.000
1915
•
M
J
4 g
42.980.000
1,000
500 Ac
1913
4,508
Dividend
and Maturity
text
Text
Mch I 1919 2% Go's Office. 2 Wall St.NY
$100 $151945549 See
S Mch
A
do
do
100
58,863 .27514 in 1920 M
1921 2%
A
do
do
1925
500 Ac
3H g J
July
74.910,175
A
A Oti July
do
do
4 g
1948
500 Ac
81,995,705
A
Go's office, 2 Wail St. NT
1925
3HI J
J1i July
44.991.530
500 Ac
do
Nov
do
c
1925
56.124,500
3H t
500 Ac
Baltimore & Ohio—Common stock
"
Last
Security.—Secured on practically entire system, 4,515 miles of first track,
equipment or interest therein, having In 1920 a net value of over
$116,491,991.
Also covers the passenger and freight terminals In Phlladel-
and
Shia, Baltimore, Pittsburgh and Chicago and the freight terminals on
taten Island, N. Y., in Cincinnati and Washington, as well as one-half
stock
interest
In
the
Washington
Terminal Co. and one-half ownership
of joint yards at Washington.
A direct Hen upon about 2.297 mllfes of first
track, and a lien, through the deposit of bonds, and in most cases all. and
>n no case less than 96% of stock, of the co. owning remaining mileage.
Reservation of Bonds.—The mortgage reserves bonds to retire about $282.000,000 prior liens on various parts of the system and the $63.25O.GO0 con¬
vertible gold bonds Ithese last being secured by the new mortgage pari
gassu with the bonds issued thereunder)new equipment and the acquisition,
onds for construction. Improvements,
and provides for the reservation of
indirectly, of properties and securities.
The right is reserved to
3J4s into 1st M. 4s of 1898 due 1948, and to extend
w. Dlv. 3H» to date not later than July 1 1950.
The authorized Issue Is limited to an amount which, together with ail the
prior debts of the Railroad Co., after deducting therefrom the bonds re¬
directly
or
refund the Prior Lien
the due date of the 8.
served under the
provisions of the mortgage to retire prior debts at maturity,
addi¬
shall not exceed 3 times the then outstanding capital stock, with the
tional limitation that when the aggregate amount of the bonds outstanding
and the bonds reserved to retire prior debts shall be $600,000,000, no addi¬
tional amount of bonds shall thereafter be Issued, except the bonds so re¬
served to retire prior debt, without the further consent of the stockholders
of the railroad company, and such additional bonds may be Issued only to
not exceeding 80% of cost of work done or property acquired.
(9) Toledo-Cincinnati Div. Bonds.—In July 1917, following foreclosure
sales, 390 miles of the former Cincinnati Hamilton A Dayton Ry. System
an amount
was reorganized
per plan in V. 102, p. 1059; V. 105, p. 715, 908. as the
Toledo A Cincinnati RR. Co., whose outstanding securities ($5,000,000
capital stock, $16,250,600 First A Ref. Mtge. bonds and $20,000,000 Ad¬
justment A Improvement bonds) were then acquired by the B. A O. RR.
The aforesaid 390 miles embrace: Main line Cincinnati to Toledo, 201 miles.
Including 141 miles leased from Dayton A Michigan RR. (a very
profitable
lease; see caption of that company); Tontogany to North Baltimore, 19
miles; Deshler to Findlay, 18 miles; Hamilton to East Middleton, 13 mllee;
Plqua to Troy. 8 miles; Dayton to Ironton Jet., 123 miles; other. 8 miles.
The B. A O. RR. having acquired all the securities Issued by the Toledo
RR., made a deed of trust covering the same to secure no!
exceeding $36,000,000 collateral bonds, which are Intended ultimately to
be made as far as possible a direct lien on this division.
Of these new B. A
O. bonds, $11,250,500 of 4% and $5,000,000 of 5% were Issued forthwith
A Cincinnati
under
the
plan.
The remainder were reserved to retire at maturity or
by the plan as shown in table above, or for
acquisition of underlying stocks, branch lines, branch line bonds, aid for
refunding additions and betterments, or to acquire First A Ref. Mtge.
bonds or new company Issued therefore.
V. 105. p. 2364.
(10) Collat. Bds. (Coal A Coke Ry.)— This $3,000,000 (closed) Issue was sold
In March 1919 to provide (along with treasury cash) for $5,000,000 1st M.
5s of Coal A Coke Ry., maturing April 1. (See that co.) The new Issue it
secured by pledge of all the $5,000,000 1st M. 5s of Coal A Coke Ry. due
1924. See V. 108, p. 1273.
earlier the bonds undisturbed
(11) The $35,000,000 6% Secured Bonds dated July 1 1919 have as se¬
curity: $6,065,000 Reading Co. First Pref. stock; $14,265,000 Reading Co.
Second Pref. stock; $10,002,555 Reading Co. Common stock: $15,000,000
B. A O.
Ref. A Gen. Mtge. 6%
"A," due Dec. 1
1995.
bonds, Series "B," and $2,000,000
The trust indenture
Series
provides that the aggregate
shall always be maintained at least equato 125% of bonds outstanding.
V 108, p. 2628; V. 109, p. 71.
The trust indenture provides that the company in each year, beginning
July 1 1919, after providing for Its fixed charges, will set aside out of net
income accruing after that date, not less than $3,500,000 p. ann. untU a
total of $17,500,000 has been set aside, such sums to be used, from time to
time, solely for capital exnenditures theretofore made, to pay loans incurred
or maturing funded
obligations.
Moneys set aside In any year in excess of
$3,500,000 may be credited against moneys required to be set aside n!
subsequent years.
V. 108, p. 2628.
value of the collateral deposited
Promissory Note.—The
companv
has issued a promissory note for $9,000,"
March 1 1920, payable to the Director-General of Railroads
after date with Interest at 6% p. a., payable semi-annually. The
following collateral has been pledged as security: $10,000,000 Ref. A Gen,
Mtge. Series "B" 6% bonds, $3,000,000 Ref. & Gen. Mtge. Series "A" 5
bonds and $2,200,000 Sandy Valley A Elkhorn Ry. Ref. A Gen. Mtge. 5
bonds.
V. 112, p. 468.
000 dated
ten years
EQUIPMENT BONDS.—As to equip, bonds of 1917, see V. 104, p.1386.
Equipment bonds of 1915, see V. 102, p. 2341; V. 103, p. 144.
Equip¬
trusts of 1917, V. 104. p. 13*6.
Equipment trusts
issued to Director-General for rolling stock alocated to this company.
See article on page 3.
ment
22MMadlioB
(MILWAUKEE
(Rock/ord
[Olf n
Sterling
Joliet
MendotiO
lVENPORT/1
*W (marts'**
WltKtS-Bj
fM»V
bk«>
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BALTIMORE a OHIO
SYSTEM
Carl tali
ejf Albany*
NLMINGTON
[CAfteravilla
Baltimore & Ohio
R.R.
Baltimore a Ohio Southwestern R.R.
Columbb
Athena
Baltimore a Ohio
lrondal«
Chicago Terminal R.R. Co
and Connections
'utcalooaa
■
VlcWburj
AUG US'
litrkHOtt
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CHARLESTON
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SAVANNAH
Tiflon
Andaluaia,
BRUNSWICK
MAT, 1921.]
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations, &c.,
see
Miles
Date
Par
Amount
Rats
Road
Bonds
Value
Outstanding
%
notes on page 6]
15
When
Last
Dividend
Places
and Maturity
^Payable
Where Interest aue
Dividends are Payable
Baft & Ohio iConcl)—
W Va A P 1st M
g
5s scaled, red at par_-.Me.Ba.xo*
yiy z aru(V94p349) QPxc* Ar
802)-QP.xc*
—QPc*
due $1,000,000 yrly call 102H-s—OPyc*
177
1890
1912
1913
Equipbdsdue$l,000.0d0
due $1,000,000 yrly (V 97. D
due $500,000 yrly call 102H
ao
do
do
$1,000
1,000
1916
1917
1,000
13
1903
1893
1,000
1,000
37
1909
500
1886
1888
1910
1,000
10.55
.
—
—
_
Second mortgage-
55
50
'11*~16
10
49
Bay of Quinte Ry—See Canadian Northern Ry.
Beaum't& Gt Nor—IstM g $17,500 pm red 102)4—G
Beech Creek—Stock (guar 4% by endorsement)....
First mortgage gold guar p & 1 (endorsed) Col.xo Ar
Second M for $1,000,000 g guar p A i (end) -Un.xo&r
Beech Creek Exten—1st M $4,500,000 egupft lG.xo*
Beeoh Greek oonsol M $20,000,000 g gu p«I G.o* Ar
n
m
p
Alsoln treasury,
n
$2,486,000;
m
1905
1914
1889
1893
1909
54
lo
«
z
...
1893
1899
1899
1897
1901
1907
1909
1909
28
164
164
164
56
135
$168,000;
p
112,
p.
1.000
EARNINGS—
Gross
Net after taxes
1920.
1921.
1,000
1,000
50
1,000
1892
1901
1.000
Sl,000&c
l.doo 9cc
-Jan. 1- -Dec. 31—
1920.
1919.
...$48,238,909 $48,711,998$231,944,443$182,620,016
4,004,292
def664,838 def1,162,437
7,857,725
REPORT.—For calendar year 1919 in V. Ill, p. 2037; income account
for 1920, see below.
——Federal
Results
1918.
1919.
—-Company's Results—
1917.
1916.
4,989
4,712
136,802,852 129,877,038 107,174,612
31,724.006
30,871,709
20,704,346
Mail
1,477.265
1,325,913
1,662,470
Express
3,373,536
4,817,793
5,180,814
Other transp'n revenue,
2.475,442
2,322,520
2,468,532
95,596,677
16,743,708
1,346,802
2,638,798
2,308,003
5,153
5,151
$
Operating Income
refght
Freight
Passenger
$
Rev. from sources other
than
transportation.-
5,475,580
5,535,568
4.461.504
3,159,853
Totaloper. revenues..182,620,016 175,259,575 139,851,910 121.793,842
Total oper. expenses
169,869,125 161,792,511 108,093,666
87,780,154
Railway oper. income
27,069,411
29,804,087
7,857,724
8,618,088
Gross income—
9,931,788
10,397,975
Hire of freight cars.
2,592,232
984,534
Basis of
Rent for equipment other
comparison
than freight cars
770,982
1.069,796
changed.
Joint facility rents
1,353,721
1,262,831
Misc. income charges
158,862
Total deductions
Net
4,874,797
5,055,991
income.-
3,317,161
7,080,814
1 1990
A
9c
do
J
do
518 Walnut St. Phlla
17 State St, New York
N Y. Farm L & Tr Co
July 11934
A
D June 11936
B
A
N May 1 1938
O Apr 1 1960
To
A
Checks mailed
A
3c
O Apr 1921
A
&
o
J
A
J Jan
A
A
0 Jan
A
A
0 Jan
1 1943
1 1943
1 1943
A
A
0 Oct
1 1947
J
A
do
do
Guar Trust Co, New York
A
A
A
9c
O Apr 1
s Sept 1
J
A
A
A
O Oct
A I
4
J
A
4 g
5 g
I
A
J
A
do
3)4
g A
A
do
do
61 Broadway, New York
1% Grand GentTermlnal,NY
do
do
do
do
J
A
50 Ohuroh St. New York •
1 1923
Apr 1 1921
July 1 1936
July 1 1936
0 Apr 1 1951
o Apr 1 1955
do
Brown Bros 9c Co. N Y
do
do
*
J
A
4 g
1935
1934
J July 1 1939
Q—J
do
PennOo for Ins.&c,Phlla
D June 1 1929
0
do
do
See "x" below
Brown Bros & Co, N Y
do
do
F
M
_
Income account for cal. yr. 1920: gross oper. rev., $199,994,743; net
ry. oper, inc., def. $3,119,434; Fed. comp. (2 mos.), $4,824,770; Govt,
guarantee (6 mos.), $25,496,156; other income, $7,318,075; total income,
$34,519,567; deductions, $27,274,087; net income, $7,245,481; sinking
fund, etc., $3,517,573; pref. divs., $2,354,531; bal. sur. $1,373,376.
(Note:
This statement does not include operating results of the Dir. Gen. of RRs.).
OFFICERS.—Daniel Willard, Pres.; Geo. M. Shriver, C. W. Galloway*
Archibald Fries, V.-Pres.; C. W. Woolford, Sec.; E. MTreas.
F. C. Batchelder,
Devereux,
Directors.—R. Brent Keyser; Robert Garrett and Hugh L. Bond Jr.,
Baltimore; John G. Shedd, Chicago: Paul M. Warburg, James Speyer,
W. Averill H&rriman, L. F. Loree, Charles A. Peabody, John R. Morron,
N. Y.; F. H. Goff, Cleveland; Gov. John J. Oornwell, of West Va.
Office,
2 Wall St.—(V. 112, p. 61, 160, 468, 561, 743, 1023, 2189.)
BALTIMORE & OHIO CHICAGO TERMINAL RR.—Property con¬
and freight terminals In city of Chicago, lines of railway
leading thereto and a belt line around the city; also 760 acres of land in
and adjacent to the city, of which 50 acres are in the centre of the business
district; also Includes 7,500 ft. of dock property on Chicago River.
Total
track operated, 300 miles, of which 266.49 is owned, 83.05 of the latter
being first track.
Total first track including trackage 91.46 miles.
sists of passenger
HISTORY.—Successor to Chicago Terminal Transfer RR., foreclosed in
V. 90, p. 166.108.235,625. Stock. $8,000,000. all owned by B.AO.
1910.
TENANTS.—Bait. 9c Ohio, Chicago Great Western, Chicago Hammond
9c Western By. (Indiana Harbor Belt). Suburban RR. (Chicago 9c West
Grand Gent Terminal,NY
do
-
do
The St. John River Extension 1st 5s of 1909 ($1,800,000 auth. Issue),
guaranteed, prin. A Int., were Issued at $30,000 per mile.
V. 93, p. 939.
LATEST EARNINGS—Jan.
1—Mar. 31—
1921.
1920.
-
REPORT.—For 1920 in V. 112,
p. 1860, showed:
Interest,
Pref
Common
Balance,
Rents, Ac.
Div.
Dividends.
Surplus.
1920--- $6,675,480 $1,547,617
$996,094 $243,600 (4)$154,4008153.523
1919—
5.287,300
1,555,775
1,082,186
243,600 (4) 154,400
75.589
1918—
4,863.223 xl,555,775
1,070,445
243,600 (4) 154,400
87,330
1917
1,625,012
1,131,839
4,384,561
43,166 (4) 154,400 295,607
Cal.
Operating
Year—
Total Net
Revenue.
Income.
—-
x
Federal compensation accrued for year; comparisons faulty.
Chairman
of Exec. Comm., John Henry Hammond; Pres.. Percy R.
Todd; V.-Pres., Frank C. Wright; Treas., Wingate F. Cram; Gen. Mgr.,
W. K. Hallett; Gen. Counsel, Henry J. Hart.—(V. 112, p. 256,1860,2082.)
BATH & HAMMONDSPORT RR.—Bath. N. Y.; to Hammondsport
N. Y., 10 miles.
Control acquired by Erie RR. in 1908.
Stock, $100,000.
1st M. 5s ($100,000) due June 1 1919, were extended at 6% to June 11929.
—(V. 110,
p.
969.)
BAY OF QUINTE
RY.—See Canadian Northern Railway.
BEAUMONT & aREAT NORTHERN RR.—Owns Livingston, Tex.,
to Weldon, 48.3 miles.
Stock, $50,000, all acquired In 1912 by Missouri
Kapsas 9c Texas Ry., which guaranteed the bonds .principal and interest,
M. K. & T. Ry. or Texas leases road for 99 years from May 1 1914.
In
May 1921 interest was being regularly paid when due.
Pres., C. E.
Schaff; Sec., O. S. Sherwin.—(V. 98. p. 999; V. 107, p. 180.
CREEK RR.—(See Maps New York Central Lines.)—ROAD.
m.; branches to Phlllipsburg,
total, 164 miles.
Leased In 1890 to N. Y. Central 9t
H.R. RR. for 999 years at Int. on bonds and 4% on stock.
V. 68, p.
872.
Carries mostly coal and coke.
See guaranty, V. 62. p. 570.
Toe
bonds are endorsed with N. Y.
Central's guaranty of prin. 5c int. See
V. 52, p. 570.
Assumed by N. Y. Central on consolidation, Dec. 23 1914,
Guarantees interest on $717,700 Clearfield Bituminous Coal 1st 4s dus
Jan. 1 1910—see that co. under "Industrials."—(V. 106, p. 497.)
BEECH
Jersey Shore, Pennsylvania, to Mahaffey, 112
to mines, 9cc„ 52 m.;
BEECH CREEK EXTENSION RR.—(See Maps N. Y. Central Lines.)
—Clearfield, Pa., to Keating, 52.14 m.; Gurry to GurwensvlUe, 15.77 m.)
Dlmellng to Irvona, 26.76 m.; Mahaffey to Arcadia, 13.67 m.; branches.
27.02 miles; total, 135.36 miles.
A low-grade coal line, leased to N. Y.
Central 9c H. R. RR. (which owns entire $5,179,000 stock and $3,964,000
consol. 4s) for 999 years from June 11905, bonds being guar., p. 9c i.
Or the
consols, $3,500,000 is reserved to retire, $ tor $, old bonds,
v. 80, p. 1174*
1479; V. 81, p. 30; form of guaranty. V. 82. p. 1267.
Assumed by N. Y.
Central on consolidation, Dec. 23 1914.—(v. 82, p. 1267.)
BELT LINE RY. OF MONTGOMERY,—Owns real estate and a belt line
in Montgomery, Ala., about 1 mile of traok on Tallapoosa, Bell, Perry and
Columbus streets.
Atlantic Coast Line RR. pays an annual rental equal to
bond Interest and difference between taxes, Insurance and cost of operation
and gross earnings from others than the Atlantic Coast Line.
Coast Line RR. owns entire Issue of $200,000 stock; par, $100.
BELT RAILROAD & STOCK YARDS OF INDIANAPOLIS—Owns 14
Leased for 999 years to Ind. Union—which see.
miles of belt road. <fco.
DIVS,—Com
*09. '10. *11. '12. '13. '14. '15. '16. '17. '18. '19. '20. '21.
6
6
5
11
13
14
18
20
16
18
11
11
text
BONDS.—Of the 1st M. bonds of 1910, the $32,000,000 outstanding are
owned by B. 9c O. RR. and pledged under its Mtge.
V. 90, p. 1295. -
Mortgage trustee, union Trust Co., Indianapolis.
Y, 89,
Pres., S. E. Rauh, Indianapolis, Ind.—(V. 102. p. 1249; V.
BANGOR & AROOSTOOK RR.
(See Map.)—Stockton Harbor.Me..
with branches; Dec. 31 1920 625.82 miles.
,
855.
In Oct. 1919 merger of Northern Maine Seaport RR.—a 54-mile sub¬
sidiary—with the Bangor 9c Aroostook was consummated, the latter assum¬
ing all obligations and having the right to issue bonds under the Seaport
mortgage.
V. 109, p. 1460.
Annual compensation under Government contract, including Van Buren
Bridge Co., $1,575,172.
V. 108, p. 2235.
Government loan, V, 111, p. 293; V. 112, p. 256.
Preliminary valuation,
V. Ill, p. 587.
DIVIDEND.
Common %
Preferred %
(
(1905. 1906. 1907-12 '13. '14. '15. '16. '17. '18-'20.
1)4
2
4 yearly
3
3)4
3
3
5
4
First authorized in 1917
7
1
Atlantlo
V. 92, p.
1242; V, 93, p. 43.—(V. 93, p. 43.)
Cal. yrs., cash
Also stock
ORGANIZATION.—See V. 66. p.
$1,452,706
def69,830
.$2,163,383
217,835
—
-
Net after taxes
Towns), Pere Marquette, Ch. Terre Haute 9c S. E. Ry. and Minneap. St.
»aul & Sault Ste. M.
V. 77, p. 948, 2158; V. 79. p. 901; V. 96, p. 486.
ytal minimum rentals from tenants, $1,335,687 annually.
V. 79. p.2084.
to Van Buren,
Y
do
July 1 1951
N May 1 1937
5 g
6 g
N
do
A Aug 1 1939
A Aug 1 1939
A
semi-ann To 1925
F
& O
RR Co.
City of Ghloago
do
J
A
M
2%
3)3%
Apr 1921
6 g
883,000
6.000,000
5,000,000
1,000,000
$3,500,000
3,964,000
do
May 1922 to *26 New York
Aprl 1922 to 27
do
D Jane 11925
D June 11943
A
Oo.s office, 2 Wall St NY
Olrard Trust Co, Phlla
000.
$32, 000.
...
Avge. mileage operated-
O
J
4 g
4H g J
J
5
Gross
-Jan. 1- -Mar. 31-
N
4,743,000
250,000
100,000
200.000
1,000
61.
LATEST
&
9c
M
S A
J
5 g
394,000
M
5
650,000
32,000,000 B&ORR A
1,000
Contract with National Railway Service Corp.
V. 112, p. 160.
Federal Compensation,—$30,035,093 yearly during Federal control for
entire system.
V. 109, p. 1981.
Government loan. V. Ill, p. 790, 1471;
V.
A To Feb 1 1922
O To April 1 1923
4)3
4)3
5,000.000
511,000
5.000
i§86
1906
O Apr
&
100
3,860,000 See text
7
100
3,480,000
5 g
1,000
3,360.000
5 g
1,000
1,500,000
5 g
1,000
600,000
5 g
1.000
225.000
4 g
1,000 n6.331.000
5 g
1.000
1,000,000
5 g
1,000 pi,618,000
5
1,000 ml.632,000
5
1,000
36.000
__
211
77
33
A
A
A
4 g
Leased Lines and Other Securities—
Schuylkill River E S RR 1st M g guar p A iendor.x
Staten Island Ry 1st mtge $1,000,000 gold—Ba.zo*
Hampshire So 1st M gold
Goal 9c Ooke By., see that company, also text below
Bait & Ohio Chic Term RR—Ch&GtW IstM g ass'd vk
City of Chicago purchase money mtge assumed
First mortgage $50,000,000 authorized
—x
Baltimore & Potomac—See Phlla Bait A Wash.
Bangor & Aroostook—Common stock..—
Pref stock 7% cum $10,000,000 auth—
First mortgage ($16,000 per mile) gold
ujcxo*
First mtge Piscataquis Dlv $1,500,000 g-.G.xxc*
V Bur Ext 1st M $500,000 g (V 69. p 952)-G.xxc*
Aroostook Northern 1st M $225,000 gold
Q.xxo*
Oonsol refunding mtge $20,000,000 gold.
OB.xo*
Medford Ext 1st M $1,000,000g(V84.p692) Us.xxc*
Washburn Ext 1st M g (V 90. P 848,913)-Ce.c*xx&r
St Johns Rlv Ext 1st M $1,800,000 guar Ce.xxo* Ar
Oar trust Ser F part due yearly
Guaranteed by Bangor & Aroostook
Nor Me Seaport 1st M guar p 9c i end—Usm.c*&r
Van Buren B'ge 1st M g gu p«l end red text Usm.c*
Bath & Hammonds port—First mo. Extended gold.z
A
4Mg F
$3,829,000
1,000,000
2,000,000
2.500,000
6.000,000
1.000
1,000
ill
L.lAl.
Jew!.,
—
Z /o
—
.
50
rV yi u
,
-33 1-3
—
I yo
—
50
—
»
—
_
40; V. 92
~, p. 394.)
CHATTANOOOA) —Owns 49 miles of belt
72.
Southern RR.; rental guaran¬
teed to meet Interest on first mtge. bonds, taxes and maintenance.
STOCK
$300,000. owned by Alabama Great So. RR. There are also $24,000 2nd
income M. 4s (tax-free),due 1945.red. at par.
BELT RAILWAY
(OF
railroad In Chattanooga, Tenn.
V. 67, p.
Leased till July 11945 to Alabama Great
BELVIDERE DELAWARE RR.—Owns from Trenton, N. J., to Ma13 miles; total operated, 80 miles.
nunka Chunk, N. J., 67 miles; branches,
Leased to United Companies, and, March
which
owns
$244,600 of the stock.
7 1876, transferred to Penn. RR.,
Net earnings paid as rental.
Dividends.—1897 to 1905. 5% yearly; 1906 to 1911. 10% yearly; 1912.
7%; 1913, 6%; 1914, none; 1915 to 1920, 4% yearly.
BONDS.—All of the outstanding bonds are secured by the consolidated
mortgage of 1875 for $4,000,000;
sinking fund. 1% of outstanding bonds If
STOCK.—During 1917 Issued $3,480,000 of a new $10,000,000 issue of
7% cumulative pref. stock and also an additional $411,400 common stock,
(see below;.
V. 105. p. 1616; V. 106. p. 1788.
earned.
The issues of 1885. 1887 and 1903 are guaranteed by the United
New Jersey RR. A Canal Co.
Guaranty, V. 76, P. 918.
BONDS, &c.—Piscat. Div. 5s, see V. 67, p. 1159; V. 68, p. 84, 329.
Of theConsol.Ref.4s, $12,500,000 were reserved to pay ofjf outstanding
EARNINGS.—In 1920, gross, $660,026; net income, $455,596; sinking
fund, $36,077; divs. (4%). $50,120; sur., $369,399-—(V. 110, p. 1088.)
bonds, including those of controlled roads, oar trusts and pref. stock, and to
$3,000,000 for improvements over a series
$25,000 per mile, including equip¬
All the 2d M. bonds were retired
in 1918, leaving the 4s a second lien on main line and a first lien on several
branches.
V. 108, p. 2235.
The Northern Maine Seaport bonds ($5,000,aoqulre
such
controlled roads;
of years and $4,500,000 for extensions at
ment.
V. 73, p. 286, 896; V. 74, p. 93.
ri81. p. 727. 81, p.BurenV. 82, p.Co. bonds are callable at 110 of guar.,
auth.). V. Van 265; Bridge 392; V. 84, p. 391, 692; form and int.
V.
106.
p.
311; V. 109,
p.
1460.
BENNETTSVILLE & CHER AW RR.—OwnsKolIocks
8. O., on Sea¬
Bennettsville and Brownsville, to SeUetson Atlantic
Stock, $250,000.
Dividends in 1912,6 %; 1913,3 % J
1914 and 1915,5%; 1916, 9%; 1917-18 (7); 1919, 6%.
Bond sinking fund,
board Air Line, via
Coast Line, 45 miles.
$3,000 yearly,
v. 92, p. 116.
Federal Compensation.—$29,078 yearly during
executed).
,
Pres., J. J. Heckart; Gen. Mgr., W. J.
_
.
_
_
.
.
.,
Federal control (contract
Posner.—V. 112, p 469.
16
RAILWAY STOCKS AND BONDS
[Vol. 112.
MAY, 1921.]
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
Miles
Dale
Par
Amount
[For abbreviations, &c., see notes on page 6]
Rodd
Bonds
Value
Outstanding
Beltingh & Nor—B B A ti C istM $1,000,000 a »f„z
BeltUne Ry. Montgomery—1st M gold $300,000 xwv
Belt RR & Slk Yds. Ind—Stock autb $3.000.000
411
1901
1911
$1,000
—
60
50
.
lit Refunding M $1/100.000 gold..
.....xo#
Belt Ry of Chattanooga—Firstmtge zold—MeBa.xc*
Beividere
Delaware—Stock $4,000,000—.
49
1.000
80
1887
1833
1903
1.000
1.000
i.000
45
1911
1,000
1902
1.000
1905
1.000
80
80
ot 1875
H38Ue $600,000 reduced by sk fd . .xr
$4,000,000 J guaranteed by United Co's sk fd xc •
Bert nettsvi lie & Cher aw—1st M $150,000 g..MeBa
Bessemer & Lake Erie—Brie equipment trust.... xx
80
Standard equip trust
Bessemer equipment truot.
xx
— — -
955.000
LAKE ERIE RR.—Leases from Plttsb. Bessemer A
Bessemer, near Pittsburgh, Pa., to Conneaut Harbor.
total of 244 miles, for 999 years
from April 1 1901; owns 9 miles; total, 253 miles.
V. 72, p. 137.
The
company refused the six months' extension of the Govt, guaranty.
Stock auth.. $500,000.
Dividends paid: In 1904,100%; 1905, 50%; 1906,
40%; 1909. 150%; 1910, 100%: 1911. 150%: 1912, 250%: 1913. 200%;
1914, 275%; 1915 and 1916, 150%,; 1917, 100%; 1918, 190%; 1919, 150%.
Controlled by U. S. Steel Corp.
Guaranty on Marquette & Bessemer
Dock & Nav. bonds, V. 77, p. 1228; V. 76, p. 1358; V. 82, p. 160LATEST
...
EARNINGS—
Jan.
1 —Dec.
1920.
—Jan. 1—March 31—
1921.
1920.
$2,514,615
Net after taxes.........def.576,770
S Mob
O Apr
Mob
5
A
Mch
5
A
June 1923-*34
f: -V
A
2,880,000
5
539.000
242.000
250,000
25.000.000
3,858,000
1.000,000
13,500,000
1,000.000
2.015,000
3,627,000
1,000,000
—(V. 112,
J Jan
A
J Jan
F
5 g
A
A
4
&
4 H
A
5
5
A
A
A
6
p.
31—
1919.
Springfield,
Aug 1 1951
Mass.,
$2,366,061
2,913,922
4,729,140
7,264,392
Sherbrooke,
—
——
—
—
Trackage rights.___......._......
and
Troy.
N. Y.;
Nqw Hampshire.
Leased.
Total.
280.53
267.44
25.27
2,255.97
a96.78
......
1,321.19
573.24
642.07
909.51
25.27
.1,133.85
255"58
1,388.93
930.97
4,254.58
Grand
......
1.98
44.19
2.92
44.19
2.92
47.11
...
47.11
total tracks
operated—•
and
Electric
roads—
Steam
a
Dec. 31 1920—
—3,370.72
Includes trackage rights, 21.29 miles.
6
mile.
'
'■
Tuyl Jr. as Chairman and H.M. DeLanoie, 66 Broadway, N. Y., as Secre¬
tary, asked for deposits with Central Trust as depositary. V. 103. p. 1887.
V. 103, p. 2340.
A receiver was appointed in July 1920.
V. Ill, p. 492,
791.
Stock, $700,000.
First 6s of 1911, V. 93, p. 43* V. 94, p. 1316.
Cal. year 1917, gross, $112,593, against $106,429 in 1916* and net after
taxes, $37,922, against $31,880.
Office, Union Springs, Ala.—(V. 94, p.
1316; V. 103, p. 1887, 2340; V. Ill, p. 492, 791.)
BIRMINGHAM
TERMINAL.—Owns passenger terminals at Birm¬
ingham, Ala.
Stock all owned by the Illinois Central, Southern Ry., Sea¬
board Air Line. Central of Georgia, St. Louis A San Francisco and Alabama
Great Southern, which lease the property and pay all expenses, charges and
4% dividends on the stock and jointly guarantee the bonds. Of the bonds
($3,000,000 authorized), $1,060,000 are reserved for additional properties.
V. 83, p. 1227; V. 85, p. 404.
Guaranty, V. 90, p. 848.—(V. 90, p. 848.)
BLOOMSBURG & SULLIVAN RR.—Owns Bloomsburg to Jamison
City, Pa., 29 miles.
Stock is $600,000; par, $50.
V. 66, p. 80/ 952.
In 1914-15, gross, $77,464.—(V. 66, p. 952.)
BOONVILLE ST. L & SOUTHERN RY.—Boonville to Versailles
Mo., 44 miles.
Stock auth., $1,000,000; outstanding, $250,000; par $125
Lease.—Operated by Mo. Pac. RR. Co. under new lease, dated Aug. 1
1917, and running until Aug. 1 1955.
Consideration, payment of main¬
taxes and an annual rental of $12,500,being the interest
on the new outstanding bonds plus $30 annually to corporate trustee.
.
Under financial readjustment In Feb. 1918 tne holders of the $500,000
1st mtge. bonds of 1911 (coupon of Feb. 1916 unpaid) were offered in
exchange pro rata $250,00u new First Mtge. 5% gold bonds of Boonville
Co. under new mtge., dated Aug. 1 1917, payable Aug. 1 1951; and also
$250,000 pref. stock v. t. c. of Missouri Pacific RR. Co., together with a
cash adjustment of $50,000, equal to the defaulted interest.
Trustees, the
Spitzer-Rorick Trust A Sav. Bank, Toledo, Ohio, and Lewis C. Nelson.
Pres., A. Robertson* Treas., F. M. Hickman* Sec., F. W. Irland, St,
Louis, Mo.—(V. 95, p. 968.)
tenance expenses,
N. Y„
River RR.
guaranteed rental or 8% per annum on the $25,000,000 stock, payable
quarterly (Mch. 31, Ac.), organization expenses, interest on bonds, taxes,
expenses o£ maintenance, Ac.
The B. A A. received for certain property
not included in the lease $5,500,000 In N. Y. Central 3M% 100-year deben¬
tures, thus adding .77% per annum to 8% guaranteed on stock. See lease
In V. 69. p. 282; V. 69. p. 1061.1102,1246; V. 70. p. 74: V. 71, p. 645. 963i
V. 107, p. 1918.
Lease assumed by N. Y. Central RR. Dec. 23 1914.
for
BONDS.—The $13,500,000 25-year 4% Impt. bonds are guar. prin. and
Hudson River RR.
No mortgages can be
placed on the property without jointly Including the bonds in the lien.
V. 86. p. 1099: V. 89. p. 102; Y. 91, p. 396.
V.94. p. 277.1055.1316.1625.
The 4% bonds mature $7,000,000 In 1933. $4,500,000 in 1934 and $2,000.000 In 1935.—V. 96. p. 553. 651, 940. 1365.1489.1838; V. 97. p. 1838.
In Jane 1916 all bonds issued since the lease to the N. Y. C. A H. R. RR.
Co. had been guaranteed (prin, A Int.) by the lessee.
In Aug. 1617 sold
1.000.000 guar. 26-year 5s for additions. Ac.
V. 105. p. 715.
Rotterdam Jet.
598.62
9.08
Total
BIRMINGHAM A SOUTHEASTERN RY.—Owns Union Springs to
Eclectic, Ala., 48 miles. V.94,p. 1316. Interest on the 1st M. bonds having
been defaulted Nov. 1 1916, a protective committee with George C. Van
Int., by New York Central A
Interest
Balance,
Income.
Dies., &c,
Sur. or Def.
$146,366 [U. S. RR. Administration.]
516,910
do
t
do
269,822
$5,003,495
def.$4,533
265,342
4.778,138
sur .2,751,595
55.87
Branch lines
Pres., A. B. Tigrett; VIce-Pres., O. W. McNear; 8ec., R. F. Spragine:
Treas., J. E. Edenton.
Office, Jackson, Tenn.—(V. 102, p. 608; V. 107,
Albany.
each In Maroh and Sept.
Total track operated............3,323.61
Electric Railways—
V. 96, p. 1295.
to
do
3.21
1.98
Side track......
fold notes of the Oo. of Jackson, Tenn. (of Dela.). guar. prln. AMarchby
lercantile Trust Blrm. & Northw. Co. These notes
int. 1
were paid
Boston, Mass.,
2%
dO
do
■
Other
Total road operated—1,682.73
Second track......501.84
BIRMINGHAM & NORTHWESTERN RY.—Jackson, Tenn.. north¬
westerly to Dyersburg, 49 miles.
Entire stock ($300,000) and bonds
($800,000) were deposited as security for $450,000 3-year collateral trust
ALBANY RR.—Owns
do
Owned.
—
Side tracks
BOSTON &
AT:--. '
do
...—1,040.66
.._______
200 miles; branches. 104 m.; leased lines, 90 m.; total. 394 m.
Leased In 1900 tor 99 years to the New York Central A Hudson
dO
1 1963
1942
Can.,
Third track.
Fourth track...
\:y
do
Mileage
———
140.
'A
do
do
June 1
1900, 8*4%. vis.:
do
do
:
.
Steam Roads—
Main lines—:
Branch lines—
BIRMINGHAM COLUMBUS & ST. ANDREWS RR.—Chipley to
Port, Fia., 38 miles.
A. D. Campbell, receiver, Chlpiey, Fla.;
Wm. H. Krelder, Gen. Counsel, 416 Pennsylvania Bldgs., Philadelphia.
Judicial sale has been ordered.
(V. 105, p. 2542.)
603.)
do
1616.)
Description—
South
p.
Trustees' office, Toledo.
Office, Term Stat'n Bost
>
do
do
July 1 1937
July 1 1938
Worcester. Mas*., to Portland, Me., and most of
(208 miles), $12,508,700; net, $2,021,398;
$4,752,413; other Income, $48,867; war taxes, $516,$1,273,542* dividends, $750,000;
$1,659,292.
Pres., J. H. Reed.—(Y. 110, p. 1088.)
Federal Compensation.—%34,523 yearly during Federal control.
Equitable Trust Co. N Y
FIT A S D Co, Phila
Reg Bioomsburgh.wh ear
BOSTON A MAINE RR.—ROAD.—The system with Its many branch
lines covers the territory from Boston. Mass.. to Portland.Me. (two lines);
BINGHAM CENTRAL RY.—See Ohio Copper Mining Co. In V. 104,
p. 1391; V. 103. p. 1122, 1415, 2237.
1916.
Nov 1916 coupon
unpaid
Interest In default
1 1924
1 1957
1 1928
1 1928
Oct
do
do
do
Union Tr Co. Pitts, Pa
1921-1932
1 1952
11951
May 1 *33-34-35
A
3 H
do
do
do
O Apr
Jan
4
do
do
See text
Q—-M
A
3H
do
BOSTON & LOWELL RR.—See Boston A Maine RR.
For year ending Dec. 31 1919
page
A
8 H%
1918.-Ti.. 25,552,079
1917.—.. 22,562,282
1916— 21.676,541
$1,911,308 $15,790,560 $12,508,699
def.319,821
2,526,454
1,845,748
BIRMINGHAM & ATLANTIC RR.—See
.1
J
1919.-.-$27,373,491
500* int. charges, $601,946* rentals, Ac.,
sur.,
5
do
and New York
do
May 1-1961
F
A
A Feb
MAS Mob
V
199.600
*
N Nov
MAN
II
(7)
1,940.000
1 1925
1922-1927
1922-1951
July 1924-1933
A
•
do
Merc Tr A Den Co, Bait
Home Tr Oo. Hobou, N J
A
1
u
DIVIDENDS.—Slnoe
Govt, compensation,
bal.,
1 1941
1 1922
2X% in June and 2X% in Deo
Calendar
Oper. Inc.
Operating
Year—
Revenues.
(after Taxes.)
,
do
11943
J Jan
550,000
950.000
2,500.000
A
Lake Erie, Ac., with branches and spurs, a
Gross
J Jan
MeroantHeTr A Dep.Bait
A
.
BESSEMER
A
A
Nat City Bank, N Y
Penn RR Co.. Phila
do
do
do
do
5
■
Payable
USM ATr Co. NY:A SF
Safe Dep 4 Tr Co. Bait
July 1 1941
Apr 1 1921 2% Go's office, Indianapolis
do
Apr 1 1921 IX
do
Q—J
Q—J
1
: 18
1,060,000
660.000
..
Lake Erie RR. et al
J
Dividends are
1 1932
J
3H
150,000
1,220,000
1907
1,000
>'ue SI 10,000 yearly xx
1911
1,000
Meadvllleeq trclue $55,000 yly begin. Mar. *22—.xx
1.000
Albion eq tr due $75,000 yrly to 1932
1912
xx
Euclid equlpt trust due $250,000 yrly beg 1924-.-.
1914
•1.000
Glrard Equip trust due $240,000 yly begin 1918—
1.000
1916
Birmingham Belt—See St Louis-San Francisco.
4.8
100 AO
1911
Slrm'h A Southeas—IstM $3,000,000 g red 107 H-Cex
100
48
1914
General and eqt M gold red 101 $1,500,000. ..Col
5.9
1907
1,000
Birmingham Terminal—1st M $3,000,000 gold guar x
100 Ac
29
1898
Bloomsburg A Sullivan RR—1st M.
FPx
29
100 Ac
Second mortgage income non-oum $200,000
1898
FP*
8oonville Bridge—See Missouri Kansas & Texas Ry
44
1917
1,000
Boonville St L & South Ry—1st M g red 107 4
.Eu
100
393
Boston & Albany—Stock ($25,000,000 authorised!....
1902
Bonds (not mortgage) guaranteed prln and Int...go
1.000
Bonds (not M) $1,000,000 (V 71.p 1218 V 72.p44) _x
1901
1.000
•08-'l<>
1.000
Impt bds (not mtge» $4,500,000 due 1934 gu p A I x
1912
1,000
Impt bonds (not mtge) $1,000,000 guar, p & 1
x
do
1.000
do
do $2,015,000 gu pAi_zc*Ar
1913
1,000 Ac
1913
Bonds (not mortgage) $3,627,000. guar pALxc^Ar*
Bonds $1,000,000 guar pAi (V 105. p 7l5).—c*Ar
1917 1.000 Ac
Equipment trust obligations—See N Y Central Rli
Boston & Lowell—Bonds—See Boston A Maine RR below
—
A
Places Where Interest and
4 g
MAN May 11939
1.000,000
J
5
300,000
A
J July 1 1945
text
1.253 000 See
yearly See text
M
4
A
S Sept 1 1926
5hi,0(^
F
A
654.000 "<■. 4;, •.
A Feb 1 1927
4
)
A
J Jan
315,000
1 1933
1.000
50
1885
Uonsoildatedlguaranteed by United Co'rsfe fd"—xr
mortgage
^guaranteed by United Co's sk fd „_xr
Last Dividend
and Maturity
D Dee
A
6
600.000
1.000
1909
1895
...
.
When
Payable
5 g
$484,000
245.000
5g
text
3.000,000 See
1.00$
...
Preferred stock cumulative.
Rate
17
930.97
4,301.69
Includes trackage rights, .99
t
Reorganization.—On Aug. 29 1916 the Boston & Maine RR. Was placed
in temporary receivership on account of inability to pay its maturing obli¬
gation of nearly $20,000,000.
Former President James H. Hustis was
appointed temporary receiver and continued in this position until reorgani¬
zation and consolidation of the system on Dec. 1 1919.
The reorganization plan, which became effective Dec. 1 1919, provided
as
follows:
(1) Consolidation of the Boston A Maine RR. with its seven directly
leased lines and the assumption by the consolidated company of all sub¬
and other obligations.
(2) Payment in cash of principal and back interest of all matured obli¬
gations of the eight consolidating companies.
(3) Payment in cash of back Interest on unmatured bonds and deben¬
tures of the consolidating companies, these being left as original or assumed
obligations of the Boston A Maine RR.
(4) Exchange of stock of consolidating leased lines on which dividends
had been paid as rentals for like amounts of Boston A Maine Cumulative
First Preferred stocks, the latter to be issued in series with dividends cor¬
responding to the dividends on the old leased line stocks, but for a period
of 6 years these dividends to be paid at 20% less than the normal rates.
(5) Preferred stock of the Boston A Maine remains undisturbed, except
that It is subordinated as to dividends but not as to principal to the First
Preferred stock, and the regular 6% rate reduced to 4% for the period of
5 years.
However, it has been stipulated that the dividend on this stock
must be paid if earned.
(6) The Common stock of the Boston A Maine is undisturbed, but Is to
receive no dividends for a period of 5 years, except under conditions men¬
tioned below.
In case of liquidation all three classes of stock are to share
leases
equally in assets after providing for obligations and accumulated dividends
the First Preferred and Preferred stocks.
(7) The money necessary to pay off the matured obligations was obtained
by the selling of $19,879,000 bonds to the U. S. Govt., these bonds being
secured by the consolidated properties under a mortgage which equally
secures all the outstanding bonds of the consolidated companies, except
that $8,338,000 bonds of the consolidated companies which previously have
been secured by mortgages retain these mortgages, which are senior in lien
on the divisions covered to the lien of the new general mortgage,
'
(8) The agreement in respect to the reduction of Preferred dividends and
non-payment of Common dividends during 5 years is modified by the pro¬
vision that if during the period of 5 years the company shall sell $12,000,000
6% First Preferred stock at par and apply the proceeds in the reduction
or debt to the Government, restrictions in respect to Boston A Maine Pref.
and Common stocks shall lapse, but curtailment of dividends on the First
on
Preferred stocks shall continue.
'
(9) The amounts earned for the stocks and not paid out on account of
the reduction in dividend on the Pref. stock and the omitting of dividends
on the Common are to be paid to a trustee to be applied in the purchase from
the Government of the bonds it takes for its advances or invested in impts.
Payments.—On Dec. 1 1919 announcement was made that the notes ot
the Boston A Maine RR., Connecticut River RR, and Fitchburg RR.
would be paid with accrued interest; the notes of the Vermont Valley RR.
purchaseaat par and accrued interest, and the overdue coupons of the Bos¬
ton A Maine RR.
and St. Johfcsbury A Lake Champlain RR. paid.
V 109 p 2171
CAPITAL STOCK.—First Pref., authorized, $50,817,900, of which
$12,000,000 is reserved to retire $12,000,000 of new bonds.
Issued,
$38,817,900.
Pref. only as to divs. (see paragraph 4 above).
Preferred
and Common stocks (see paragraphs 5 and 6 above).
The Boston RR.
Holding Co. holds $21,918,900 Common and $654,300 Preferred stock, and
this has been ordered by the Court to be sold by Oct. 11921. V.108, p. 2122
BONDS.—In exchange for the $19,879,060 advanced by the Government
the company Issued $17,606,060 5% bonds payable July 11920 and $2,273,000 6% bonds pavable Jan. 1 1929.
The 5% bonds due July 1 1920 were
refunded by a like amount of 6% bonds payable Jan. 1 1929, purchased
by the Director General of Railroads.
Miles
&c., see notes on page 6]
Date
Par
Amount
Rate
When
Last Dividend
Road
RAILROAD COMPANIES
[For abbreviations,
Bonds
Value
Outstanding
%
Payable
"D" (for Conn.
100
100
100
100
Series F_.—
Series G
......
....
.
1920
Bonds for improvement A ref
gold
.
._
.
73
1877
f 47
147
Var.
1894
do
do
Bonds
do
do
Bonds
do
do
1905
1906
1907
1909
1913
do
Bonds
1903
zc*
do
do
zc
.......
—
-
z
zc*
.
1
1916
dlv. rate after Jan
then
1 1924; till
scaled
A
ref. mtge. secures all of the
equally with the bonds given to
Stock
Div.
Outstanding. Rate.
,
Vermont A Mass__$3,193,000
Troy A Bennington150,800
Nashua A Lowell
. 800,000
300,000
Stony Brook
Wilton RR
240,000
Peterborough RR.. 351,900
Northern RR
—3,068,400
Conn. A Passumpslc 2,500,000
Massawlppi Valley. 800,000
6
10
9
7
8M
4
6
S'tock
Div.
Outstanding. Rate.
New Boston RR
$60,000
4
Con. A Portsmouth.
350,000
7
Suncook
Valley
Pemigewasset Valley
278,640
603,400.
Concord A Clarem't
400,700
•
3
6
Peterb. A Hillsboro.
132,800
45,000
0
0
0
0
Newport A Richford
6
6
350,000
0
None
Nashua A Acton
Franklin A Tilton..
Maine guarantees $1,328,000 1st 5s of St. Johnsbury A Lake
Champlain. Jointly with Maine Central guarantees $300,000 Portland Union
Ry. station (now Portland Terminal Co.) bonds. V 93, p. 940, 1323. Also
Boston A
$500,000 Concord A Claremont 1st mtge. 5s, due Jan. 1 1944,
and $772,000 Vermont A Mass. 3^s, due May 1 1923.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Stockholders' suits, V. Ill, p. 73, 188, 692, 895; V. 112, p. 561.
Govt,
loan, V. Ill, p. 791; V. 112, p. 160. Valuation, V. 112,p. 62.
DIVS.—
('93. '94-*98. '99. '00-*07. '08. '09. '10. *11. '12. 1913. None
Common (%)1 8
6 yly. 6H 7 yly. 6H
6
6
5
4
2
since
On Jan. 31 1920 paid a div. of $2 67 per share on the Pref. stock, the first
payment since March 1913.
V. 110, p. 359. Mar. 10 1920, 2%; Sept. 1
1920, 2%.
The Jan. 1921 divs. on the new pref. were omitted. For July
1920 payments, see table at head of page. V. Ill, p. 2323.
Jan.l-Mar.h—
1921.
1920.
Gross
-$18,293,838
$17,4/0,403
Net after taxes
def.3,009,403
def.3,513,648
guarantees
ANNUAL REPORT.—For year
end. Dec. 31 1920, in V. 112, p. 1733.
showed»
Combined
Corporate and Federal Income Account,
1920.
Calendar Years—
Operating revenues......
Operating expenses
Taxes, Ac
—
1 1929
J Jan
1 1929
D Junel 1930
A
J Jan 1 1929
MAN Nov 1 1930
J 15 To Jan 15 1935
J A
J
A
D Junel 1930
A
Jan
Feb
11944
d<>
do
do
1 1937
Aug 1 1943
A
A
do
1917
Jan
unpaid
lnt
do
do
A
July 1 1950
A
Nov
1 1921
Nov 1916 Interest
A
Jan
Feb
1 1923
2 1925
Jan
A
1917 Interest
due Sept "l
r16
unpaid
unpaid
Sept 1 1926
lnt
A
April 1 1929
lnt due Oct 1 '16 not
A
June 1 1937
A
Jan
1 1930A 35 Amer
A
Oct
Apr
1 1932
A
May 1 1923
Sept 1 1925
500,000
A
Nov
325,000
A
350,000
A
M
A
pd
Boston
do
Merch Nat Bk. Boston
Merch. Nat. Bk.
Boston
do
do
do
do
do
do
do
do
1 1926
do
July 1 1927
April 11929
Feb 1 1933
Mar 1 1936
A
1,000,000
1,250,000
Co,
do
1 1934
A
A
A
Trust
not pd
do
do
do
80%.
consolidated company s bonds
the Government, and will cover all the
property owned or hereafter acquired, subject only to the following divi¬
sional mortgage bonds; Portsmouth Great Falls A Conway RR.. due
June 1 1937, $1,000,000; Worcester Nashua A Rochester RR., $1,265,000
($735,000 due Jan. 1 1930, $380,000 due Oct. 1 1934, $150,000 due Jan. 1
1935); Concord A Montreal RR., due June 1 1920, $5,500,000; Troy A
Boston RR., due July 1 1924, $573,000.
Bonds are to be issued in series.
(See table at head of page.)
Leased Lines.—Leases assumed by the consolidated company are:
1st
new
J Jan
D Junel 1922
A
500.000
1.000
do
do
Bonds
Shows the maximum
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
00 Ac
1892
do
do
Bonds
1,000
1,000 AO
1.000AO
500 AO
1906
-Bonds 40 yrs
Bonds
1,000
1909
_z
1.000
,♦
1903
1905
& Rooh first mortgage equally l
Nashua
&
A
1,919,000
2,500.000
6,000,000
5,454.000
1,000,000
2,000.000
500.000
10,000,000
11,700.000
1,000.000
885.000
380,000
1,000,000
250,000
Ao
1,000
1,000
1.000
1901
—zc&r
Portsm Gt Falls A Con 1st M assum
secured ($735 ,C
Boston A jLowelldo
Bonds
t
*
*
z
zc&j
-
$12.000,000
Worcester
1887
1892
1894
1900
.zoAr
Bonds 20-year
Bonds
1920
z
$1,000,000
Bonds our
-
609,000
stock (V 70. p 175»
Bonds $2,000,000
..
.
_zo&r
—....
Bonds exchanged for Fltohburg
1920
G
Equipment gold notes, due $355,300 annually
Temporary bond receipts
.
Mortgage gold bonds-.......
Bonds of Merged Properties Assumed—
Improvement bonds s i not subject to call
Bonds
1920
.
A
10,273,000
1/,606,000
5,000,000
3,520,500
1,212,500
5,443,979
4,974,200
316,000
1920
1920
.....
..
-
•
100
*—--
_
pd
unless bonds h eld by U. S. Got. are
cos—
1920
Series
Bonds
100
1920
.v.......
s
) July 1 *20,2%
$18,860,000 4 (5%)x
A
J'lyl'20,3.20%
7,648,800 6.4 (8)x
A
J'lyl'20,280%
7,917,100 5.6 (7)x
A
8 (10)x
J'lyl'20,4%
4,327,000
A
J'lyl'20,1.80%
65,000 3.6(4.5) x
A
6
65,000
MAS Septf'20 2%
3,149,800
4(6)
—
„
Beries D
Series E
5 year
A
100
Rlv M & L and L & A 10% stock)
(for KAK4H% stk. See opt, V 107, p. 1918)
"F" (if issued to retire bonds) $12.000,000
Old Pref stock non-cum (see text)
New Firs* & Ret M (sec equally all issues of merged
or
Dividends are Payable
to as sets—
as
"E"
Series C
39,505,100 No diva f
100
Where Interest and
Places
and Maturity
Boston & Maine—Com stock (dividends deferred) _.
not pr eferred
First Pref Cum stock, all same priority $50,817,900,
"A" (for Fitchburg preferred)
"B" (for B. A L. ana L. A A. 8% stock)
"C" (for Concord A Montreal stock)
The
[VOL. 112.
RAILWAY STOCKS AND BONDS
18
1919.
Owns
$21,918,900 common ana $654,300 pret. stock ot the Boston A Me.,
stk., for which was Issued $27,293,900 non-voting 4% oum.
52.9% of
or
,
pref. stock, redeemable at 110. guar., prln
A divs., by endorsement by the
$24,493,900.
V. 93. p. 870, 1461; ^. 94. p. 205; V. 95, p. 968.
In March 1914. under order of court to divorce the system, the B. A M.
stock was transferred to five trustees, viz.: George W. Anderson and
James L. Doherty of Springfield, Mass.;
Henry B. Day and Charles P.
Hall of Boston; Frank P. Carpenter of Manchester, N
H., with orders to
sell the same on or before Feb. 1 1909. but U. S. Dlst. Court extend ed
order to Oct. 1 1921.
V. 108, p. 2122.
As to receivership of B. A M. in
Aug. 1916. see thatcompany.
V. 99, p. 47; (V. 108, p.
76.)
BEACH & LYNN RR.—Owns narrow-gauge road
from Lynn to East Boston, Mass., 9 miles, connecting with Boston by com¬
pany's ferryboats; East Boston to Winthrop, 5 miles; also Win thro p to
Point Shirley, 1 mile.
V. 94, p. 982; V. 95. p. 1121, 1402.
Fares, V. 106,
p. 2122, 2344; V. 107. p. 180.
BOSTON
REVERE
DIVIDENDS.—
J '97-'05. *06. '07. *08-'10. 'II.
1894
\ 2 yly.
April 1920 dividend omitted.
Since
Year ending—
Dec. 31 1920
Dec. 31 1919
4
5
6yly.
1912 to Jan. 1920
7X 6% yly. (1H%Q-J.
Int.&Tax.
Divs. Paid.
Deficit
Gross.
Net.
$195,225
$l,651,728def.$I16,761
$65,714(1 H )$12,750
92,180
1,451,274
42,405
83,594(6%) 51,000
—(V. 112, p. 848, 1398.)
BOSTON TERMINAL CO.—Owns Southern Union Depot In Boston,
opened In 1899. V. 68, p. 40; V. 69, p. 591.
N. Y. Central (Boston A Al¬
bany), Boston A Prov., Old Colony and N. Y. N. H. A Hartford BR. cos.
own the $500,000 capital stock and pay as rental in monthly installments
sums sufficient to pay all expenses, charges, interest on bonds and 4% on
stock.
These companies are Jointly liable for any deficiency in case of
oreclosure.
Reg. int. Q.-F.; coup., F. A A.—(V. 93, p. 1598.)
1
BOYNE CITY GAYLORD & ALPENA RR.—See page 140.
BRAZIL RAILWAY.—(V. 110, p. 1186; V. Ill, p. 791.)
BROWNSVILLE & MATAMORAS BRIDGE CO.—See page 140
BUFFALO CREEK RR.—Owns 6 miles of terminal road In Buffalo, N.Y .
1889 leased for term of charter less one day to the Lehigh Valley and
the Erie RR., which together own entire capital stock of $250,000.
Rental
is Int. on bonds, 7% on stock and organ, expenses. First Ref. bonds are is¬
suable to retire old 5s.
V. 108, p. 1610.
Pres., O. A. Brunn, Buffalo,
N. Y.; V.-P., F. H. Silvernail, N. Y.; Sec. A Treas., E. A. Albright, N. Y.
In Deo.
—(V. 92, p. 259, 593; V. 93, p. 43; V. 108, p. 1610.)
i
1
1918.
$86,652,745 $72,935,146 $70,157,584
90,989,432 67,144,063*,64,779,651
3,049,214
3,044,449
2,317,647
BUFFALO ROCHESTER Sc. PITTSBURGH RAILWAY.—(See Map.)—
Operates from Buffalo and Rooh., N. Y.„ to bituminous ooal regions.
7
Lines owned in fee—
Miles. Willow Grove to Pittsburgh, Pa.
Penn. RR.—Penn. RR. Jet. to
Buffalo
Creek,
N.
Y„ to
Mt.
Shuman Run Y, Pa
21
Jewett, Pa
98
9
Jlarion Jot. to Llndsey, Pa
59 Other
Leased—Stock not owned—
Rochester to Ash ford, N.Y
94
Jharlotte, N. Y., to Lincoln Park 10 Allegheny A Western—a
Punxsutawney to Butler, Pa.,
Indiana Branoh
79
Ac
63
Six branches
28
Trackage—
Miles Clearfield A Mahoning—a
Clearfield to Beech Creek RR-. 26
Brie—Mt Jewett to Clarion Jot. 20
2
B.AO.—Butler, Pa.,to Pittsburgh 41 Mahoning Valley RR..
Rlbola Jet. to New Castle
33
Total Dec. 31 1920 (a See separate statement for this company)..590
-
a6,240,350
$11,933,384
11,729,633
Adjustment (see A)
income
Deductions..
$203,751
Net income
Equipment trust install
Dividends
_
$170,571
$2,560,964
340,496
1,22/ ,948
.
Balance
$9,321,576 $10,208,2 9
6,760,612
10,037,658
bl3,078,935
Other income
Total
$2,746,634 *$3,060,285
803,409
889,339
a5,771,532
a6,178,178
-_def.$7,385,901
Operating income
;
2,035,716
def. $1,364,693
$525,248
Siting $11,500,000 on account of the 6 mos.' guaranty here shown for 1920.
nly the $11,500,000 is included in the $13,078,935 claim of $17,691,310.
OFFICERS.—James H. Hustis, Pres.; Wm. J. Hobbs, V.-Pres ; H R.
Wheeler, Treas.; A. B. Nichols, Clerk.
DIRECTORS.—Norman L. Bassett, Augusta, Me.; Charles W. Bosworth, Springfield, Mass.; Frank P. Carpenter, Manchester, N. H.; Charles
Sumner Cook, Portland, Me.; Henry B. Day, Newton, Mass.; Charles P.
Hall^ Newton, Mass.; James Duncan Upham, Claremont, N. H • J H
Hustis, Winchester, Mass.;Richard Billings, Woodstock, Vt.; H. H. Dud1,
ley, Concord N. H.; Geo. von L. Meyer, Hamilton, Mass.; Alba M. Ide,
Troy, N. Y.; W.M. Parker Manchester, N. H.; Geo. R. Wallace,-Fitch¬
burg, Mass.; H. E. Warner, Lincoln, Mass.; Harry G. Stoddard, Worcester,
Mass.; E. M. Hopkins, Hanover, N. H.; Woodward Hudson, Wm. J. Hobbs
1739,
2082.)
BOSTON & PROVIDENCE RR.—Owns Boston, Mast., to Providence,
20 miles.
Leased 99 years April 1 1888 to Old
Colony RR.; rental 10% yearly- oni stock, lease being modified in 1912.
V. 95. p. 235.
The New York N. 1L A Hartford on DecJ 31 1920 owned
$524,600 stock.
The company issued as of July 1 1918 $ll70.000 5-year
6% gold debentures due July 1 1923 to refund the 4s then due.
Endorsed
on the bond and signed both by lessee and lessor is a statement to the effect
that the bonds are Issued under provisions of lease of 1888.
Interest pay¬
able at office of J. P. Morgan A Co., N. Y., National Shawmut Bank or
First National Bank, Boston
(V. 108, p. 1274.)
B. I.. 43 miles; branches
BOSTON RAILROAD HOLDING CO.—Incorporated In Massachusetts
June 18 1909 under special Act with power to hold securities
of
Boston A
The N. Y. N. H. A Hartford has transferred its holdings of $27 600,400 pref. and com. stock to trustees appointed by the U. S. District
Court, and as guarantor has paid pref. divs. which Co. could not meet
Maine.
ORG.—Successor 1887 ot Roch. A Pittsb., foreclosed, plan
$170,571
(Before Dividends) Omitting Federal Compensation & Guaranty.
Deficit for year
$17,132,482 $3,055,016
$6,000,704
Note A.—"For the years 1918, 1919 and 1920 the corporate and Federal
income accounts are combined, and in order that balances carried to profit
and loss may agree with corporate accounts, an adjustment is made of the
amount of Standard Return in excess of Federal income."
The Standard
Return for 1920 (2 months) was $1,583,441, against $9,500,643 for years
1918 and 1919, the road having been operated by the U. S. RR. Adminis¬
tration from Jan. 1 1918 to March 1 1920.—Ed.
b Up to Dec. 311920 the I.-S. C. Comm. had authorized payments aggreResults
—(V. 112, p. 61, 160, 561, 931, 1143, 1517, 1616, 1733,
.........
The entire
capital stock ($4,000,000) of the Rochester A
V. 41, p. 516.
Pittsburgh Ooal
(V. 66, p. 1088), carrying control of the Jefferson A Clearfield
Ooal A Iron Co., was transferred in 1906 (subject to the Hen of the General
Mtge ) to the Mahoning Investment Oo. In consideration of $4.125.o00
of its stock, which was then distributed pro rata among the holders of
A Iron Oo.
Ry. common and
V. 109, p. 1459.
pref. stocks.
V. 83, p. 1468; V. 85, p. 414, 415; report,
For bonds of these coal companies see "Industrial Cos."
Clearfield A Mahoning Ry. securities are guaranteed.
with D. L. A W. sought.
V. Ill, p. 1277.
Federal
DIVS J'06.*07. '08/09. *10
%I 6
5K4H4'4
Feb. 15 1921 paid 3%.
lom
Working agreement
Compensation.—$3,281,888 yearly during Federal control.
_
11/12. *13. T4.'15 '16 l? '18 '19. *20.
5^ 6
5,
4
5 6
5-4
4
5
1921.
text
On
Mahoning Investment Co. (see above)
paid on Its stock in 1907, 2%; In
1908, 4%; 1912 A 1913, 3%; 1914, 2}4%) none thereafter till 1917, 6%;
1918, 12%; 1919, 7H%; payments now being made
Q.-M. V. 88
685; V. 94, p. 419; V. 99. p. 233.
Compare above and V. 107, p. 798
85, p. 283.
1^%
.
I:
BONDS, AO.—General 5s for $5,573,000 reserved for prior bonds, Ac.
The 50-year Consols are to bear not over 4H % int., $3,000,000 were issu¬
retire underlying obligations at or before ma¬
able at once, $18,145,000 to
turity and the remainder for future requirements.
V. 84, p. 867, 1306: V. 85. p. 39, 414; V. 95. p.
1070, 1155, 1315; V. 99. p. 118, 1748; V. 100, p.
361. 749; V. 98, p. 999,
228.
The N. Y. Stock
April 1920 authorized the listing of $1,590,000 additional bonds,
with authority to add $2,453,000. making the total amount applied for
$17,210,000.
In treasury of company, pledged and unpledged, $4,081,000.
The $1,300,000 Roch. A Pitts. 1st 6s, due Feb. 1 1921, were paid off at
maturity with the aid of a Govt, loan of $1,000,000. V. 112, p. 932.
Equipment Bonds.—Series E has an annual sinking fund of 6% for
Exch. in
'not purchasable, Sept. may be drawn by lot.
Surchase of bonds bonds 1 and March 1, respectively, E may also be called
Series at 105*and interest;
entirety at 105.
Series F may he purchased by sinking fund at not
par or drawn by lot at Dar and may also be drawn at 102 and int. on
Int. day
V. 84, p. 1365; ?. 85, p> 283, 414, 863; V. 105. p. 2183
Series G have an annual 6% sink, fund to retire bonds at par; it not purchas¬
able, bonds to be drawn by lot.
V. 89, p 468; V. 91. p. 400; V. 93, p. 1785,
939: V. 94. p. 122: V. 97. p. 364.
Series H. V. 97. p. 1582: V. 98. p. 1459;
Series J, V. 105. p. 388, 605.
(No Series I.)
Series K. V. 107, p. 1099,
as
an
over
any
2375.
MAY, 1921.]
RAILWAY
STOCKS AND BONDS
19
Bancroft
Smiths)
t
Falls
I*
Haliburton
Sharbot L,
V
Eldorado
jMufckpka Wmirf
V
Sturgeon L.
(orillia
OftANO
Central
/
Ontario Jc./
Coboconk
/
OwehS
Sound
Peterboro Rt
CollingwoodVRUNK^yj^
Lindsa;
Durham
BT^cKvill^
Tweed-
kefleld
"Blackw^ter
Napaneej*^
Bell
■^<Harw^P
Trenton
Port Hope\
teeton Jc.
Orange Y,
arrison
/ o EIeW
OgQNIO"
George
Fergus1
Milton
mmm&m
\U^\
Hamilton
stratford
^A^icott;
iiagara
''
0^>
*\Woodstock
Lewiston"/'7^ Doc
[((Suspension Bridge
?
^><^aris
Brantford
/
Lyons
®
^Niagara Falls
"^^^v/Caledonia
l^SwTonawanda'
Batavia
'
G
Canandaigu^Jt^^'TK"
n'
"fTT^
Canandaigva
Wellam
W. JC.
iomCen.
Simcoo
\ "
\
ROCHESTER
•/••
^vaSSa
Jarvii
v
tM*
"p^WillarM
\
is\
IM\
-A IV
\
ayt's Cors.
e^nn YanVi
}V\ Naples/l
v
\.Cayuaax
%\Lake \
ajpvk
Hammoi
Ikbort
^
WbBurdetfc
WatklnsV
Mayville
V
Van Etten
Hornell
iutauquav^\
Chaiug,m
La/cet
Wallace Jc.
Lakewood
ph^^r
PILAMANCA>»
CARROLLTON'
Addison
Jamestown
"""t
Conneaut Harbor
Union
'
BRADFORD-
Lawrence ville
City
Smethport/\ Ulysses
Warren"
Cambridge Sprs.
'owanda
Kushequa/X1
Fall Brook
Hickory
Meadville Jet.
Hoytville
Mead ville
Cross Fork
Balston
<£/Green ville
^
'ranklin
:-r*0i
Transfer
%9qa
rockwayviulc
./
y
7
AT
Jv
*%*<&
t
/a
o4/itt*c,i«
I
X
1
Tyrone
F
Morath
/
^^^^•NQCthBessemer
°\.,<Latrobe
\
^oc^~7S«iisburg\
ashington
Wheeling
*
Huntington
I PottsV
) ville TV
MAP OF THE
/
/
/
,/
\
>X
/"Bedford
/
/
PHILADELPHIA^
\j ReadingN^
Harrisburg
*
/flairsville TJohnstown
Salemville X
/
PITTSBURGH
r;
^/Bellw<
Altoona
" * E mines
iwistown
AULTMA^W^*
/
f
jtjagter.".
^HCu£5-^.uuC'
i
Shamokin
Irvona
4? J? rjUOhambersrille
\»M
Sunbury
i
affey
BUFFALO,
ROCHESTER
AND
PITTSBURGH
RAILWAY
Miles
&c., see notes on page
Boston Se Maine—(Concluded.)
Connecticut River Bonds....;
6]
Date
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
and Maturity
mortgage $2,000,000
zo'&r
Bonds not mortgage $3,660,000 currency...zo&r
not
zc&r
zo*&r
$2,400,000..
$1,350,000 authorized currency
Bonds not mortgage
Bonds
Bonds
1914
35
(V 53, p 405)
zo&r
Borids of Leased Lines (Stock see each co)—
Concord & Claremont (N II)—First mortgage—zc
Oonn fit Passumpsic First M $1,900,000 gold—zc*
Vermont & Massachusetts plain bonds guar..,zo&i
Manchester & Lawrence plain bonds (not rntge)-_zc
Boston fir Providence—Stock 10% guar 99 yrs Old Col
Troy & Boston first mortgage
Gold
71
110
1918"
5
4g
A
4,000.000
10
1,000
27.293,900
850.000
13.32
1,000
109
1897
1897
1.000,000
1.000
&o
100
1910
1911
1891
1910
1.000
1,000
1,000
1.000
161.
1921.
1920.
$3,680,509 $4,100,277
taxes-.-——def.13,699def.406,010
after
REPORT.—For cal. year 1920
Net
in full in V. 112, p. 1609,
showed: Gross,
$3,048,988 (incl.
period);
$9,145,766; oper. income, $1,512,597; other income,
$557,935 Fed. comp. for 2 mos. and $1.759,613 for 6 mos. guaranty
rentals, $497,692; Interest, &c., $1,738,133; net income, $2,325,760; pref.
divs. (6%), $860,000; com. divs. (4%). $420,000.
,
„
_
EARNINGS.—For year 1919 under Govt, control. V. 110, p. 2303.
1919.
1918.
I
1919.
*1918.
Govt.compen.$3,276,410 $3,276,410 Rent leas'd lines,
91,545
52,281
91,545
52,281
int., &c....$2,407,012 $2,205,026
Appropriations
28,602
29,355
360,000
x99,108
xloO.OOO Pref. divs. (6%) 360,000
Com. divs. (4%)420.000 (5)525.000
Bal., surplus
255,366
233,9 >6
385,222
279,208
income
.
.
Oper. expenses
Tax accruals fic
incollectibles
Rentals fitother
_
.
Under the agreement
.
Director-General only the Federal taxes
to be
Passenger
Report for 1919 in V. 110, p.
$1,591,470
Freight
Mail, express, &c
11,787,447
576,675
Total oper.
1918.
$1,335,097
16,437,948
706,613
revenues..$13,955,592 $18,479,659
def.$1,353,707
$607,528
892,899
807,240
Net, after taxes
Other income
Gross
—
def.$460,808
income
of roads
See
fund. debt. Corporate
Other int., rents, ficc
Income
New equipment
Account
Retirem't equip, bonds,
above.
Divs. on pref. (6%)
$1,414,768
See
Rents accr. lease
Int. accr. on
Divs.
on
Safe Dep
J10 JanlO 1921
&
&
Feb
1
Grand Rap, Mich,
1 1930
St Louis
&
J Jan
fit
J'
A
8 Sept 1 1931
1 1941
J Jan
A
J Jan
S Mort
U
Union Trust Oo
& Tr Co.
expenses
2,008,330
$1,785,856
$1,411,022
Operating income
Hire of equipment
$262,488
X473.243
1916.
$300,000; bal., sur.,$302,539
1914.
1915.
1,765,750
$1,532,803
$1,209,390
31,200
1,970,978
$1,678,680
$1,244,945
31,204
1.538,228
$1,446,190
$1,280,702
31,200
$128,294
193.053
140,143
$402,537
309,405
152.570
49,501
$292,26V
197,880
161,193
40,094
$937,018
$914,013
$707,507
Income from funded sec.
income
Gross income
FEDERAL INCOME
Fed. comp.
mos.), $1,087,391; int., rentals,
Coal and coke tonnage.
Total operating revenues
112,345
N T
do
do
Total income (incl. $98,602
1917.
Bosf
Tr Oo
New York Trust Oo.
1 1961
$160,000; com. divs.,
Other
mailed
Boston
or
Merch National Bk,
1 1937
and $351,041 Fed. guar, for 6
Operating
Taxes, ficc
checks
State St Trust Co
Offloe7
J Jan
REPORT.—For cal. year 1920:
mos.
do
2%
1947
M
5 g
•5 g
fitTrOo, Boston
do
Bos & Maine
154,454
62,900
57,152
$518,642
ACCOUNT (See "X" below.)
1918
1919
.
with the
paid by the company.
REPORT.—Year ends Dec. 31.
Years ending Dec. 31—
1919.
x
are
1 1943
RR, Boston
Treasurer's office, Boston
Apr 1 1921 2)4
See text
J July 1 1923
Text
!*
1,000,000
for 2
Met Trust Oo, Boston
ficc.. $324,852; pref. divs.,
.
.
do
1 1944
Jan 1 '20 1
,4H g J&J16 July 15 192
333.000
90.000
1.000,000
for rolling stock allocated
fit
J
do
do
See text
14,500.(XX)
800,000
1917
J
do
do
do
N May 1 1923
1 1922
J Jan
&
&
O—J
}■•
do
July 1 1924
fic
M
Boat
do
do
1934
J Jan
O Apr
fic
J
8X
2,170.000
100
100
1
RR.
do
1 1933
Jan
&
500,000
1,900,000
772,000
274,000
63
Jan
fit
do
Office. Fitcbb
1 1932
&
7
573,000
'
to this company.
Gross
400.000
1.872,000
Jan
&
J
Boston RR Holding
Equipment trusts Issued to Director-General
See article on page 3.
Government loan, V. HI, p. 791; V. 112, p.
EARNINGS.—Jan. 1 to Mar. 31—
IIS
iH
&
do
do
1 1927
N May 1 1925
N May 1 1928
&
M
do
do
O Apr
M
4
office
do
do
do
1921
O Oct 1
company's
do
do
1927-1928
&
A
4
Ask
1937
1
N Feb
&
3*
100
1893
1892
Co—Pref stk 4% cum red UO.zgu
Boston Revere Beach fi: Lynn—Stock $850,000
z
1st M (V 65. P 68; V 83, p 379) $1,000,000 gSBzo«&r
Boston Terminal Co—First mortgage ourr .OB, .zo&r
Boyne City Gaylord & Alpena—1st M $800.000..
Brinson Ry—See Savannah & Northwestern RR.
Brownsville & Matam Bridge Co—1st M gold guarSStx
Gold bonds $100,000 guar Jointly..
N.x
Buffalo Cr—Con (now 1st) MSI .000.000 g Int as rentc'x
1st ref M.—Total auth. $5,000,000 g red 105-Usmx
Hutfalo New York & Erie—See Erie Railroad
&
Various
4
Dividends are Payable
8 Sept 1 1943
1 1923
J Jan
&
1,000
1,000
1,000 &c
1,000
1914
1903
OByc
debentures
1874
4
2.400.000
1.200.000
1.000 fitc
1,000 Sec
1.000 &o
1913
z
z
$450.(XX) authorized,....
Bonds
5.000,000
4.200.000
1.775.000
2.000,000
3,660,000
1,000
1,000
'97-98 1,000 &o
'00-01 1,000 &o
1907 1,000 &o
000 &c
1905
1908 1,000 &o
1.000 &c
1912
fic
M
969.000
1887
M
J
4 g
$1,000,000
1903
Fitchburg—Bonds to State of Massachusetts
zr
Bonds not mortgage (12,750,000 are 4s of 97)zo&r
Bonds not mtge ($1,775,000 are 3
of *01) zo&r
Bonds
$1,000
1893
ic
_.z
.....
Bonds..........
Where Interest, and
Places
Last Dividend
Road.
RAILROAD COMPANIES
[For abbreviations,
V
[Vol. 112.
RAILWAY STOCKS AND BONDS
20
Corporate
Income
Account
above.
common
Balance, surplus
In 1920 carried 9,402,558 tops of bituminous
total tons of freight moved), against 6,239,308
tons in 1919.
-
OFFICERS.—Pres.. Wm. T. Noonan.
WYEmlen Roosevelt.
1917.
$1,313,594
13,119,838
541,567
2303.
1916.
$1,214,'352
11,036,335
511,068
$14,975,000 $12,761,755
$2,590,075 $3,108,518
1,316,001
1,125,274
$3,906,076
$373,500
1,446,495
373,633
76,054
568,299
360,000
(6)630,000
$4,233,792
$373,500
1,388,057
374,795
179,391
679,000
360,000
(5)525,000
$78,105
$354,047
coal (out of 14,941,182
tons out of 11,063,670
Rochester: V.-P., Adrian Iselin,
Treas., J. F.
$2,249,666
17,929
38,800
Cr 193,369
Dr. 34,224
(def) 416,587 {def)
41,150
Cr
Equipment rents
Joint facility rents, etc.
Dr.
...
90,837
39,623
{def) 406,523
102,416
x The road in the past has enjoyed a large credit balance on hire of equip¬
ment account, and its earnings therefore as reported by the U. S. RR.
Administration have been seriously curtailed by the action of the Admin¬
istration in June 1918 in waiving the per diem plan for the lines under
Its control and at the same time charging in expenses the bills of other roads
for repairs to cars used by them for which they pay no rent to owning road.
DIRECTORS.—E. R. Darlow (Pres.). A. A. Jackson. P. G. Bartlett.
Herbert II. Dean, J. S. Farlee, James A. McKee, Julius F. Workum, Charl¬
ton Yarnall, Albert L. Smith and J. Rutherford McAllister; F. E. Hall
(Sec.-Treas.); Gen. Mgr., A. M. Darlow; Gen. Aud., T. J. Elmer, 980 Ellicott Sq„ Buffalo.—(V. 110, p. 1088, 1414, 2191; V. Ill, p. 2227.)
Net income
BULL
miles.
FROG-GOLDFIELD RR.—Beatty, Nev., to Goldfield, Nev.J80
control was obtained by Las Vegas fic Tonopah RR.,
In June 1914
duplicate lines being abandoned, but in 1918 that company went out of
business and this road has since been operated in connection with Tonopah
& Tidewater RR. and Death Valley RR. V. 99, p. 1536.
In Oct. 1920 it
was stated that the Tonopah fic Tidewater RR. had purchased the • ailway
system and
terminals of the road.
V. Ill, p. 1565, 1660.
Officers: R. C.
523
Pres.; C. B. Zabriskie, V.-P. & Treas.; N. S. Miller, Sec.,
Bldg., Los Angeles, Calif.
It was announced in Dec. 1919
that the Clark interests, about 51%, had been sold to W. Thouse fic LeBaker,
Pacific Electric
grande, Eastern
N, Y., Thos. F. Brennan, Rochester;
Dinkey, Rochester; Sec., Ernest Iselin, New York.
Directors.—Henry G. Barbey, A. Iselin, William E. Iselin, J. Herbert
Johnston; O. O D. Iselin, W. T. Noonan, George E. Roosevelt, W. Emlen
Roosevelt, Ernest Isolin, O'Donnell Iselin, Oscar Grisch, Samuel Woolver-
$2,157,830
Railway operating revenues
Net from railway operations
Railway tax accruals
interests.—(V. Ill, p. 1565.)
ANACONDA
BUTTE
& PACIFIC RY.—See page
140.
Owns from Sagamore. Pa., to
THEBES RR.—Owns Cairo. 111., to the bridge across the
Mississippi River at Thebes, 111., 25 miles.
Leased to St. L. I. M. fic So. Ry.
(now Mo. Pac. RR.) for 99 years from Mar. 1 1911, rental covering int. on
an authorized Issue of $2,000,000 4% bonds, of which $1,699,000 are issued
and outstanding, all owned by L. fic N.
V. 95, p. 1121.* Columbia Trust,
Co. of Louisville, Ky., trustee.
Stock. $10,000: par, $100. Pres. A.
Robertson; Treas., F. M. Hickman; Sec., F. W. Irland, St. Louis.—(V. 95.
Incl. 59miles trackage.
P-
ton,
Hamilton F,
Kean. N.
Y, Office, 36 Wall St.—(V. 112, p. 161,
561, 932, 1609, 1976.)
BUFFALO
&
SUSQUEHANNA
RAILROAD
CORPORATION.—
Wellsville, N. Y.. with several branch lines
Total mileage Dec. 31 '918, 297;
lncoru. in Penn¬
sylvania and succeeded Dec. 31 1913, per plan V. 98, p. 1503, the B. fic 8
RR., foreclosed Dec. 5 1913.
V. 97, p. 1582; V. 93, p. 1596.
For descrip¬
tion of property see V. 108, p. 1828-'30; V. 100, p. 1007, 980.
Connects
at Driftwood Jet. with Pennsylvania RR. for Buffalo.
Compensation under Federal control, $591,613.
STOCK.—Authorized (par $100), common,
$3,000,000; 4% pref. (p. &
d.). cumulative after Jan. 1 1915, $4,000,000.
Will be held In voting trust
until Jan. 1 1924.
P. G. Bartlett. J. S. Farlee and Herbert H. Dean,
all of N. Y. City, voting trustees.
Listed on N. Y. Stock Exchange.
See
full statement to the Exchange as of April 1 1919.—V. 108, p. 1828-'30
DIVIDENDS—
1916.
1917.
1918.
1919.
1920. 1921.
On common stock..
On
5 & 2 ext.
7
7
10
text
On com in 1921: Mar. 31, 1% %.
($10,000,000 auth.) are secured oh the en¬
5
pref. stock in full to
date
BONDS.—The first M. bonds
and further by deposits of mortgages aggregating $956,848
Coal fit Coke Co., and of a second mortgage
for $1,300,000 on the properties of the Buffalo fic Susqeuhanna Coal & Coke
Co., and of all the stock of the Addison & Susquehanna RR. and all the
stock and bonds of the Wellsvllle Coudersport fic Pine Creek RR., and of all
the stock of the Keystone Store Co.
V. 73, p. 619, 899; V. 84, p. 748.
Of the bonds, $6,959,000 have been Issued. The remaining $3,041,000
bonds, or any of them, may bear not to exceed 5% Interest and can be Issued
only for additions, extensions, improvements, acquisitions of property or
acquiring or discharging liens on property of corporations i n which 90% of
stock Is owned. Sinking fund for redemption of bonds at not to exceed par
and Int.. $50,000 per ann. for 35 years; also all sums In excess of $50,000 per
ann. received on account of principal of any mortgages held as collateral
under such mortgage and any further payments authorized in case of issue
of further bonds or otherwise.
Bonds retired through operation of the
sinking fund to be held alive.
To May 1 1921, $816,000 haul been retired
while $368,500 were held in treasury and $5,774,500 were outstanding
V. 97. p. 1503; V. 98. p. 1765; V. 100. p. 980, 1006' V. 108. p. 2329, 2210
BUFFALO & SUSQUEHANNA COAL & COKE CO.—This
company
the $1,300,000 2<rM. 5% bonds of which are owned by the B. fit S.
RR
Corp., owns coal laDds at Du Bois, Onondaga and Sagamore. Pa.
Six mines in operation.
V. 77, p. 1301; V. 79. p. 2091-92; V. 82. p. 1322;
V. 85. p. 1266.
1st M. 5% bonds have been paid off.
POWHATAN COAL & COKE CO.—This company, Ml of whose bonds
are
owned by the B. & S. RR. Corp,, owns coal lands at Tyler and at
Sykes. Its coking plants have a capacity of 1,800 tons of coke daily.
Key¬
stone Store Co., stock $50,000. ail owned by RR. Corp.
Jan. 1—Mar. 31
Jan. 1—Dec. 31
tire property
on
coal lands of the Powhatan
EARNINGS.—
Gross
Net after taxes
1921.
1920.
1920.
1919.
$621,886
$677,749 $3,107,466 $2,157,830
def.108,326 def.65,518 def. 167,665 def.457,740
CAIRO
&
1121.)
CALGARY &
EDMONTON RY —See page 139.
CALIFORNIA-WESTERN RR. fic NAV.
fic INDIANA
CAMBRIA
CO.—See page 139.
RR.—See page 140.
*
BURLINGTON COUNTY RY.—Owns from Pavonla.,
N. J., to Pemberton, N. J., 22.34 miles; branch. Burlington, N. J., to Mt.
Bolly 7.12 m.; connection with P. fic. A. RR. at Birmingham, N.J., 0.12
m.; other branches. 8.82 m.; total. 38.40 m.
Organized in 1915 as a con¬
solidation.
Auth. capital stock, $800,000.
V. 101, p. 46, 1092; V. 102,
p. 65.
Operated under lease by Penn. RR., which guarantees 0% on stock,
■(V. 101, p. 46. 1092.)
CAMDEN
fic
CANADA fic
GULFTERMINALRY .—OwnsSte.Favieto
Hammermill.
$4,000,000; par $100. Bonds, see
V.-Pres., Hugh Doheny,
Montreal, Que.
CANADA SOUTHERN RY.—{See Maps New York Central Lines.)—
ROAD.—Main line from Suspension Bridge station, Inoludlng the Cantilever
Bridge, to Windsor. Ont., 226 m.; branches to Courtright, Ont., ficc^ and
controlled lines. 154 m.; total, 380 m.; Canada So. Bridge, 2)4 ni.
Track¬
age. St. Thomas to London. Ont., 15 m.
Double track. 242 miles.
ORGANIZATION,
ETC.—The company was chartered In Canada
Feb. 28 1868 and debt readjusted in 1878.
In 1903 made a new lease to
Mich. Cent, for 999 years, the latter, which owns *7.810.000 stock, guaran¬
teeing divs., rate since Jan. 1 1911. 3% yrly. V. 76, P- 1• 1247.^
Tne Mich. Cent, guarantees, prtn. and int. of $40,000,000 50-year bonds;
remaining $17,500,000 are reserved to refund the <130,000 divisional bonds
and for additions, extensions, improvements and additions at not over
$3 000 000 yearly.
Bonds are free of Canadian taxes. V. 95. p. 1607.1744
V. 96, p. 134, 200, 789, 1421.—(V. 96, p. 1884; V. 101. p. 1972.
Que., 38H miles.
Stock authorized,
table.
Pres., M. J. O'Brien. Ottawa, Ont.;
Montreal, Que.; Sec.-Treas., E. M. Hoctor,
InAm(Pa conipany under th?nam^of^Canadian National Railway Com¬
pany" was
incorporated by the
Dominion Govt, with the intention of having
owned or controlled by
take over and operate the railways
This company, however, in May 1921
that company
had not been organized
bein^ operatedunderthetitle
Canadian NationalL Railways in¬
the Canadian Northern Rail¬
way System, the National Transcontinental Ry., the Grand Trunk Pacific
Ry, and the Intercolonial Ry.
Arrangements will, it is expected, shortly
be comDleted under which the operation of the Grand Trunk Ry. will be
SkeHver by the Govt. This whl make a total mileage of about 22,500 m.
the Govt
the Govt, controlled railwayswere
"Canadian National Railways."
The
clude about 17,000 miles of railway covering
and
RAILWAY
MAY, 1921.]
RAILROAD
Road
Buffalo Rochester A Pittsburgh—Common stock... Tr
Pref stock non-oum common 6% then pro rata.,Tr
A Pittsburgh
U S Govt Loan!.—
Amount
Rate
When
Last
Dividend
Outstanding
%
Payable
and
Maturity
$100 $10 500.000 See
i.-
mmm
«*
«.
•
234
1882
253
1887
1889
1907
11
363
1,000
1.000
1,000
mmm
000
mmm
1,365.000
1,125.000
1,250.000
1,000,000
1,870,400
1,000.000
mmm
1917
1,000
1918
1.000
1920
133,600
'
1921
V—~
—
Buff & Susq RR Corp—Common stock v t c
Preferred stock 4% cumulative V. T. C._
"
100
'mm-
$10,000,000 gold-Ea.x
Bull Frog & Goldfield—1st M g s fd call 102M--FP
2d mortgage gold
....
Burlington Cedar Rapids & Northern—See Chicago R
Burlington & Missouri Valley—See Chicago Burllneto
Butte A & P—1st M g gu sk fd cad 105
yc*Ar*
&
J Jan
J July 15 1921
Y
Feb
11944
Guaranty
Tr
Mob
1
1061
See text
,'v
1
1934
Anglo-Cal Tr Co. San Fr
704,000
a
A
A
1
O Oct
5 g
M
A
Fidelity Trust O
1922
,
Phila
do
do
Co.
Y
N
N
m
m mm m m
m
1.000
800,000
6 g
F
A
25
J
A
1,000
501,975
350,000
6
1897
4 2
F
A
38M
1920
1.000
1,140.000
J
A
100
F
A
A Feb 1
380
1912
5 g
A
A
O Oct
1 1962
14
1895
1.000 Ac
1.000
lo.000.000
22.500.000
5 g
3
A
o Ont.
1
1920
1,000
*
130.000
2
A
J Jan
2
1940
1921
Royal Tr Co, Montreal
1M Grand Cent Term, N Y
do
do
15,000,000
M
A
In 1918 the balance of the $100,000,000 was acquired.
The
capital stock is now $100,000,500 of which $500 Is outstanding in
of public.
V. 106, p. 2344; V. 107, p. 1191; V. 108, p. 1822;
V. 98, p. 1600, 1607, 1918
In 1917, under Act of the
Canadian Parliament, the Government,
advanced
to
the roads of the system $25,000,000 with which to meet cou¬
pons and other maturing obligations (V. 105, p 496, 996, 1207, 2271, 2364;
V. 106, p. 2344.
In 1918 further agreed to assist the company by guaranty
of principal and interest, in renewing or postponing maturing obligations
of the system.
V. 106. p. 1796. 2223.
Also in 1918 voted to grant a
further loan of $25,000,000.
Compare V. 106, p. 2559. 2344, 2336 , 2223.
quired
total
the hands
STOCK.—Of the
CAPITAL
$125,000,000
cap.
1914, $25,000,000 was issuable only in exchange for
V. 9$, p. 1600; V. 100. p. 393; V. 105. p. 996.
DEBT.—The $45,000,000 debenture stock was
stock as increased In
Income Charge Stock.
guaranteed in 1914, prin¬
int., by the Dominion Govt, under plan outlined in V. 98, p.
In June 1917 $44,866,667 of this issue had been disposed
of as follows: Sold in
i9l4 and 1915, $17,033,333 (£3,500.000); pledged
with Dominion Govt, against advance of $10,000,000 Dominion notes,
$12,500,000; pledged as part security for 2-year 6% notes for $11,500,000.
$15,333,333.
See also V. 102, p. 1982; V. 99. p. 269. 341. 536, 747. 1129.
1450; V. 100. p. 307, 1591.
,n.
Particulars regarding various of the securities issued were given In V. 106,
p. 2223, 2336; V. 105, p. 1304; (a) Perpetual consol. deben. stock, V. 76,
p. 1247; V. 77. p. 87; V. 80. p. 996; V. 81. p. 1609: V. 86. p. 1099; V. 87. p.
36; V. 89. p. 1279; V. 90. p. 770, 1424. 1489; V. 93, p. 406; V. 94, p. 1695;
V. 98. p. 1601.
(ft) 3% 1st M. debenture stock, guaranteed by Dominion
Government, dated July 29 1903. V. 80. p. 1234; V. 76, p. 1299.
(c) Cana¬
dian Northern Alberta. V. 90. p. 1295; V. 92, p. 794, 880; V. 93. p. 162;
V. 96, p. 284.
(d) Debenture stock, guar, by Province of Saskatchewan
and Province of Alobrta. see V. 89. p. 40; V. 88, p. 761, 1497, 1619; V. 91.
p. 1322; V. 94, p. 1316; V. 97. p. 1582; V. 98, p. 761.
(e) Canadian North¬
ern Western Ry. 1st M. 4M%. guar. prin. & int., by Province of Alberta.
cipal and
1600, 1607, 1918.
44
"
44
378.1
172.6
126.2
-
44 '
44
"
9.833.9 miles
as of Dec. 31 1920.
Capital Slock.
Bonds.
$100,000
1st mtge. deb. 4Ms
V
General mortgage 5s
250,000
Mortgage 5s
2,000,000
General mortgage 5s
800,000
First mortgage 5s
300,000
First mortgage 5s
750,000
First mortgage 5s
420,000
First mortgage 4s
3,000,000
1st M. 5% deb. stock
5% deb. stk. & bds.
7,000,000
479
1724; V. 97. p. 1583;
98. p. 610, 838, 1155; V. 108, p.
1st M. consol. deb. 4s of 1904, V. 78, p. 1274; V. 79, p. 2794; Y. 80.
116; V. 81. p. 1607; V. 82, p. 568.
(/) Winnipeg Terminal 4s, V. 89,
p. 665, 1480.
See also caption of the leading subsidiaries below.
Twenty-year 7% sinking fund gold debenture bonds due Dec.l 1940.
V. Ill, p. 2139.
.
,INCOME CHARGE STOCK.—The 5% Income Charge Conv. Deb. stk.
limited to $25,000,000. Is red
at any time after May 6 1920 and is con¬
vertible until Jan. 1 1922, at holders' option, into full-paid common shares,
$500 (or £102 17s.) of deb. stock for $500 capital stock, on 30 days' notice.
V. 93.
p.
\e)
$180,000
-
_
B
,
781.8
Y
Aets Rk of Montreal
1945
Girard Trust Co, Phila
N May 1 1935
owne d or to be owned by the Ca nadian Government.
7 g
100 100,000,500 All
1920.
'
Girard Trust Co. Phila
May 1 1936
Girard Trust Co, Pttfl
A Aug 1 1921
J Jan
1921
3% Broad St Station. Phila
do
do
A Feb 1 1927
1919
38
Acquired Securities
p.
__
„
The interest is
payable May 2 and Nov. 2 only to the extent
that the net
paid in full to
earnings are sufficient after paying fixed charges.
Interest
Nov. 1914.
No payments in 1915 to 1920
V. 108, p. 1822
-
sales year 1919, 79,053 acres for $1,535,608
unsold Dec. 31 1919. V. 107, p. 2183; V. 105, p. 817
1205; V. 76. p. 1083; V. 75, p. 183, 549; V. 81. p. 263.
Lazard Bros. A Co. announced In London in May 1918 that tHey ^ere
LAND
-
GRANT.—Land
leaving 772,309
3,038,000
450,000
100,000
924,900
First mortgage 5s
Ont. B. AN. bonds
acres
1207, 1304; V. 85.
p.
prepared to purchase at 90% 4% First Mtge. Land Grant
1938.
V. 107, p. 2187.
5% Land Mortgage debentures.
V. 100, p. 393; V. 97, p.
201,000
Niagara St. Cath. A Tor. Nav.
Co.* Ltd
100,090
Quebec A Lake St. John Ry__ 4,034,800
Can. North. Pacific Ry. Co__25,000,000
Can. North. Alberta Ry. Co.- 3,000,000
Can. North Western Ry. Co_ 2,000,000
Can. North. Sask. Ry. Co
1,000.000
Can. North Manitoba Ry. Co.
250,000
Can. North. Ontario Ry. Co._10,000,000
Dul. Winnipeg & Pac.Ry. Co. 3,060,000
Dul. Rainy Lake & Win. Ry_» 2,099,009
Dul. Winn. A Pac. Ry. Co
100,090
A
A
8
-
Su'Appelle L. L. A S. RR. A S
lag. St. Cath. A Tor. Ry
J
NY
K.B. Smith AOo..N.
30 1963
J
on
do
do
2%
A
709.0
53,000
128,600
'35
IK By trustee's check
A
1,798.9
Irondale BancroftAOttawaRy.
Marmora Ry. A Mining Co__
Dec
J
909.000
-
Common
'22-Jan
A
J
1.000
...
Bay of Quinte Ry. Co., pref
Common
Central Ontario Ry., pref
J To Jan 1926
A
1,954.3 miles
"
"
1,000,000
2,000,000
do
text
J Jan
M
1.000
1,000
.2,5 9.8
1,428.2
2,000,000
465,000
930,000
291,000
do
do
&
&
Q—M 31 Mch 31 '21
J
&D30 Dec 30 '20
3u
Division
Steamships, Ltd
do
text
J
J
6
do
F
-
Can. Nor. System Term.. Ltd.
do
do
*
Lines in Nova Scotia
Can. Nor.
do
do
Aug'21toAug'33
,
do
6 2
Divisfon—West of Edmonton
Edmonton A Slave Lake Ry._
Can.Nor.Ry.Express Co.,Ltd.
do
A
1911
Quebec Division
Land Co.-
do
0 Oct'21 to Oct'33
A
1914
Western Division—West of Port Arthur
St. Boniface West.
J J;in*22 to Jan'30
A
26
Ontario Division—East of Port Arthur.
Winnipeg Land Co., Ltd
A
A
52
-
500,000
500,000
100,000
250,000
J
F
1911
Central Division—West of Port Arthur
400,000
'
5 g
5 g
6 g
6 g
do
R y
Paolflo
1%, on Dec.31 1920 had in operation 9,868.9 miles of road extending
Quebec. Montreal and Toronto to Vancouver. British Columbia, with
branches and intersecting lines in the provinces of Quebec, Ontario,
Manitoba. Saskatchewan and Alberta. V.105.p.l207,1103; V.107, p.1286,
Lake Superior Term. Co., Ltd.
i
1.699.000
&
from
Can. North. Telegraph Co
do
A
do
3.000.000
ma
many
Minn. A Ont. Bridge Co
Minn. & Man. RR. Co
1 1929
A
4 ?
O Apr
O Oct
6 g
of
Ontario
dc
A
6 g
Government railways in 1920
deficit of $48,000,000 in 1919.
The in¬
Total.--
do
do
A
4M 2 A
68.000
CANADIAN
NORTHERN
RAILWAY
SYSTEM.—The Canadian
Northern Railway System, with a maximum grade of practically
M
Electric lines in
1 1957
1 1922
1 1927
N May
N May
4 H « M
.
75.DUO
pared with $105,036,176 in 1919—(V. 112, p. 651, 1143, 1273.)
Minnesota
do
1.000
EARNINGS.—The operating deficit on
Pacific
do
do
1.000
creased loss was due chiefly to increased expenditures in pay-rolls and fuel.
The total gross earnings in 1920 of the system were $125,141,752, com¬
—
do
1939
4 K
The entire capital stock is owned by the Canadian Government.
In
May 1920 Wm. A. Read & Co., New York, offered $15,000,000 7% equip¬
ment trust gold certificates, dated May, 1920, and due May 1 1935.
Semi-annual payments of $500,000 each beginning Nov. 1 1920 must
be used by the trustee to purchase certificates at or under par, if obtainable.
At the end of each six months any unexpended balance must be used at the
direction of the railway to purchase either certificates or Canadian Govern¬
ment obligations due before the maturity date of the certificates.
Cer¬
tificates may be purchased at a premium and tendered by the railway
company to the trustee, under the foregoing provisions.
A
1937
5.774,500
—
Mileage, Dec. 31
S Sept 1
J Jan
1
25
by Un N J RR A Can Co.GP.xo*
Canada Atlantic—See Grand Trunk Ry
Canada & Gulf Terminal Ry—1st M $1,140,000 gCanada Southern—Stock.—
Cons guar gold bonds (IstM on mainline) G.zc*Ar*
Leamington & St Clair 1st M g gu d A 1 fendi
zc*
Canadian Nat Rys—S F equip tr ctf (text)GPxxxc*
Canadian Northern—Stock f 125.000.000
Funded debt, see following page
Prairie Division
A
do
1914
First M g gu p A 1
a
M
do
Q ulnoy.
Coll trust gold notes
Camden & Burlington County—Stock 6% guaranteed
$69,593,441, compared with
g
do
1922
151
Cairo Sc. Thebes RR—First mortgage
x
Calgary & Edmonton—See Canadian Pacific Ry
Cal W RR & N—New mortgage $750.000
Cambria & Clearfield—See Pennsylvania RR
Cambria Sc Indiana RR—1st Mgred 102 M GPxc^Ar
was
A
Yoi%
do
1
Deo
1914
mm*
n
A
Payable
New
St.
1906
«...
ook Is)
M
J
Wall
100 Ac
m-..
■
A
3 000.000 See
4.000.000 See
100
mm mm
First mortgage
J
339.000
706.000
-mmm
—-
D
F
5e
52
4*
14,129.000
1,000
1.000
1913
mm*
&o
A Feb
15 1921 3% 36
A Feb 15 1921 3%
6
350.000
Dividends are
A
A
Where Interest ana
Places
F
6 s
4.427.000
1.000
1.000
I
1904
1907
1909
mmm
text
6.000.000
3 920,000
100
"
Con M g
.
Par
Value
mmm
Un.zo*
B R & P First Gen mtge ($10,000,000) gold.Un.zo*
Lino P A Charl 1st M gold guar
Un.zo*
B R A P Consol mtge $30,233,000 gold..Ce.x r'&r
Equip bonds B $2.CK)0,0()0 gold red 105 sink fund.dx
do
F $3,000,000 gold red sinking fund
x
do
G $3,000,000 gold Sinking fund
Gxc*
do
H gold $125,000 due yly text
G.xc»
do
J gold (no "I") $50 000 due s.a— Gk.yc*
do
K $40,000 due s -a
Cekc*
do
No. 10 $2,004,000 g notes) $133,600 ann_Rochester
Date
Bonds
Miles
COMPANIES
[For abbreviations, &c., see notes on page 6]
21
BONDS
STOCKS AND
bonds of 1909,
due July 1
200,000
First mortgage
V.
-
p.
-
1424.
purchased the bulk of the capital
provided to take up notes which fell due inA918 and 1919.
2271; V. 106, p. 188, 2010. 2223, 2336, 2344. 2559. 2755; V. 108,
NOTES.—The Canadian Govt, having
stock, funds
105, p.
were
2122.
Short Term Loans Made by or Through—
Amount.
Series A London 5% loan of 1918, guar., p. A L,
by Canadian Govt. (V. 107. p. 180, 290)------$9,733,333
Aug. 12 1921 Series B Guar. Secured gold notes of 1918, 5%,
guar., p. & i., by Canadian Govt.
Authorized
£1,650,000, £100, Ac., call 101: int. F. & A—. 1,250,400
April 5 1922 Guar. Secured gold notes of 1919. Trustee, Lloyds
Bank, London (V. 108, p. 2122, 1822^649). —-£1,049,800
Maturity
-
Aug. 12 1921
_
— -
—
------
-
Mt. Royal Tunnel A Terminal
Co., Ltd
5,000,000
4,446,700
(Owns $5,144,600 stock of Can. North. Quebec Ry. Co.)
Can. North. Quebec Ry. Co.- 2,090,000
Halifax A South West. Ry. Co.
925,000
I—
Bessemer A Barry's Bay Ry__
125.000
Toronto Eastern Ry, Co
250,000
First mortgage deben5s900,000
Toronto Suburban Ry. Co
1,500,000
Can. Nat. Realties, Ltd
40,000
Toronto Dwellings, Ltd
100,000
,—
;
—
-
Nor. Cons. Holding Co., Ltd.
(Collateral Trust gold 6% notes of 1919, secured
$14,286,000 Canadian Northern Ry.
i(guar.) Gen. Mtge. 4s of 1934. V. 109, p. 370, 476
1 1922/5M% gold notes of 1919 guar, by Dominion of
1 19241
Canada.
Callable at 101
(V. 110, p. 1288) J
Feb.
1
1922
Feb.
1
19241 by pledge of
-
Dec.
Dec.
5,000,000
4.500,000
6,000,000
6.000,000
-
■
Federal
Properties, Ltd
Tor. Niag. A West. Ry. Co__
St. Charles & Huron Pw. Ry__
Can. Nat. Transf. Co., Ltd.-
1,000
125,000
10,000
Can. Nor. Rolling Stock Co..
500,000
211,000
50,000
Can. Nat. Rolling Stock Co._
— -
—
50,000
Imperial Rolling Stock Co.
___
-
-
to
•---
passed transferring the manage¬
of all the other Government railways, in Canada
the board of directors which had been appointed to manage the Canadian
and
Northern
operation
Ry.
system.
,
In June 1919 the Canadian National Ry. was
incorporated at the instance
entire capital stock, to operate
On June 30 1919 the title to the physical
of the Canadian Government, which owns its
all the Government-owned lines.
property of the Canadian Northern Ry, Co. and its subsidiaries ""as still
vested in the several original companies, and they were directly liable for
bonds though Hon. J. D. Reid, Minister of Railway, on June 30
Informed the Canadian House of Commons that if the net earnings of the
Canadian Northern Ry. are insufficient to pay the bond interest the Govern¬
ment had arranged to provide for such interest for the current fiscal year.
DOMINION CONTROL AND LOAN8.—In 1914 the Canadian Gov
their
ernment
guaranteed $45,000,000 of 4% debentures and took over an addi¬
capital stock over the $7,000,000 previously ac¬
tional $33,000,000 of the
.
Can. No. Rolling Stock Gold $1,000 6%
Series "A" 1918
(int. J. & J.)
due
- —
-
James Bay & East. Ry
1,250,000
In Nov. 1918 an Order-in-Council was
ment
Imperial Rolling Slock Equipment Trusts Series Gold ($500 and. $1,000 each) •
Interest Semi-Annual—All 4Ks Except Series "IT-1
and L-1 5s.
Install. Due.
Ser. Date
Outst'd'g.
Install.
Due. Ser. Date. Outst'd'g.
~
V—1910
$300,000 $100,000 Nov. F-l 1913 $1,480,000 $210,000 MAS
385.000
55.000 MAS
A-l-1911
556,000
184.000 FAA G-1I1913
350.000
40.000 JAD
B-l-1911
300,500
75,000 MAS H 1-1913
105,000 AAO
D-l-1912
825,000
165,000 AAO K-1-19141 1,055 000
920.000
66.000 FA A
E-l-1912
630,000
105,000 MAS L-111916
Cerlfs. (Pep xxx) Guar. O.
July 1 annually.
1920,
N. Ry.
$750,000; 1921-26 Inch, $450,000 each and July 1 1927 and
1928, $400,000 each (V. 107, p. 81)
-------$4,250,000
Series B, 1919 (Int. J. & J.), due $375,000 J. A J, July 1 1920 to
Jan. 1 1929 incl. (V. 108, p. 377)
-------- 7,125,000
Series C, 1919 (int. M. & NJ, due $375,000 M. & N., Nov. 1 1919
to 1929. incl. (V. 108, p. 2021)
--------- 7.500.000
Series D. 1919 (int. J. & D.). due $375,000 J. A D.. June 1 1920
to Dec. 1 1929 incl. (V. 110, p. 166)------------------- 7.500.000
Government purchase of rolling stock.
V. 107, p. 81; V. iuy, p. i<2.
GUARANTY.—For first 3 years
after road is opened from
Vancouver to
Quebec the Govt, agreed, at the request of the company, to advance all or
portion of the int. on the $45,000,000 4% deb. issue auth. In 1914 (see
above) and not to enforce the re-payment of same until the principal ma¬
tures in 1934, provided the company pays 4% int. on any sum so advanced
(V. 98. p. 1608. 1601.)
Similar provisions were made respecting the
Dominion guaranty of the bonds on the Canadian Northern Ontario Ry.
between Montreal and Port Arthur, but for 2 years only.
V. 105, p. 1304.
any
i>5
i>5
iCns«#
JnnV.
Cr.
P1'
4-
W
HH
.^Stf3-
1
GARREAU
Grand
litre>
A'^r* ! 6
\ CAN.
%
4* '
£
U ij.;
g # f jf Timmodj
?\i ^ S\ o ■»
«i
«
£
3
S
S
u
m
ONT
«fe*j
Jo«nrt*NK.
/Hevlitt**^,
_
^ckwl
HARBOUR^
^
^CaCE
Vp^"^
Goo4«b*^
5jr8rdtriii
ifWMurr*
<0*\-AND I
^S^PARH'
^ARrtR^-*!
f(t
s»*h:*
MAP
SHEWING
THE
NATIONAL RAILWAYS
CANADIAN
AND CONNECTIONS
(EASTERN
SECTION)
<1
O
Proposed
Lines under
Lines in Operation—
♦AADlBOj
— — — i
Lines— — —
Construction*———
SCALE
OF
STATUTE
MILES
r
^
'
—*
i—1
to
port
vfe^Lake
t/Athabasca
WoMaston
Lake
F.t;Cjfippewgan
FLNelsor. °\
|jjjOJ
MJ
0TH
Factory
H.B-CO'
WMM.B.fco.
South Indian,
Lake Clair
Lake({
Reindeer
McKay.
kelson
FLGraham
House o
Ft.McMurray
h.b.co.
Stanley
oDunvWa\PeaC*
Peace
iancTrng
^ or way
Hat\ne Lake
ft
McLeady
*
f/CAN
Vu«rb«Nfo
u
u-pv*»*
ft Fraser
j:
Ft.George
K5ri*r
"ttoondhilt
^MROSe^^
/^•r>^r.BWtux
iiurkerville
r
Jasper
National
UCWrlu Oroo^nf
Park
Qriemelt
g-SASKATOON
PftHQtBBB
4
>,
l
BLUE
\
U
U-rt«k?ltam
nu
toil,
\l
WltLOWBROOK^ni
\
"Hubbapd
-
^
A?
.«*
Ki.'
V<^nc«8mc J
RIVER
^
'lacier
-
ii^^TSriiooa'i^,
^ypANPO R^jcr; %
T'
^ranooH>
^Kuuntb*»H' Sc.?'
JKMetbveO J'- VV
CALGARY]
rT*»v- wc_«>.
:igh River
Swift
BautryV7%
^ernon
medicine hat
V
KELOW
Cumpbull Rl<ri
sTEirit
/
Grand
^*—0
macleod^
CurreuiSjjCo
Av\\
Yanguard
P,
'?•«•; w«,u,feu,"r,dge
P^ucioir
Jca*©«"*w
UolHO«W^
itcatao^
Qtafton^
Mountain of
c*
Grand Pork.
vCrooksion/
VBs^
Fork^
fRexford
Glacier
(lliughaiu
Glasgow
ionners/Fenj
Colvili
Shelby
Jliver
taples
Kalispell
[(Snohomish
ixaodria
BISMARCK
Seattle
MAP
SHEWING
THE
Tacoma-
CANADIAN
Pullman
Missoula
Harlow ton
s
North Yakima
& Lombard
Huntley
Butte
Toluea
NATIONAL RAILWAYS
AND
Miles City
Lines In
CONNECTIONS
SECTION)
(WESTERN
Lines under
OperationConstruction
m—mmmmmm
Proposed
Lines
hmmm
MAP
OF
THE
CANADIAN PACIFIC RAILWAY ~
The Minneapolis. St. Paul &
Duluth. South
The
Sault Ste. Marie Ry.
Shore & Atlantic Railway^
ANTICOSTI
CONNECTIONS
AND
SECTION)
(EASTERN
nLIVErpool
Sandy L,
Lake I
-Evans,
Albany Elver
RobervaJ^Pi
Chaiubord jj;
Shabog^rn<%
'Lake
Cochrane
'NipigonMath-esoi
wWbps*
ssJLS'2?j&
.
W*M:
Virginia^
Y
-
o n Co
Ti
n
in o<
«$A
NOTE
)\
Cuhuar^.
Mason
City
«r$
bmhb
^
\
luv
Rapids,
Clinton.
■ ■■■
Mmmm
[F-tecpoJ
St#iS
iterloo,
j^uroTa-p
Hayroo^
ol*—-—HoaniHe——'—
y
1
DOUBLE TRACK
..
Xorfwetn
I
SINGLE TRACK
<5
UNDER CONSTRUCTION
TRAFFIC ARRANGEMENT
OR
TRAFFIC RIGHTS ONLY
SCALE OF MILES
CORRECTED TO MARCH. 1921
60
76
100
160
a
i-*
so
to
w
Ul
O
Q
W
Ul
W
o
Ul
MAP
OF
THE
CANADIAN PACIFIC RAILWAY
The Minneapolis, St. Paul
The Duluth. South Shore
AND
<
& Sault Ste. Marie Ry.
& Atlantic Railway
CONNECTIONS
to
or
(WESTERN
SECTION)
RAILWAY STOCKS AND
36
FUNDED
DEBT
OF
NORTHERN
CANADIAN
RV.
SYSTEM JUNE 30 1919.
(Interest is payable seml-ann. on dates Indicated by maturity except as
follows:
Date of
Amount of
Held by
Total Issue.
Public.
Pledged
(1) Guaranteed by Dom'n Govt.'.
$
$
$
9,369,997
7,896,588
JuiylO 1963
3H% let M. deb. stk. 1908—July20 1968
4% 1st M. deb. stk. 1914
Sept. 1 1934
1st M. deb. stock
Amotn
Public.
Pledged.
$
<
25,000,000
27,833,334
3,149,999
3,569,996
b3,149,999
3,569,997
1.540.003
71,696.914
32.943,334
104,613,248
anadlan Northern Ontario Ry.—
1st M. deb. stock
June30 1938
6,724,015
1,135,982
1,135,982
7,859,998
7,859.998
Total
300.000
349,000
4349,000
Perpetual
12,658,910
9,083,628
3,575,282
Jan.
1 1934
903.253
903,253
—
Jan.
2 1927
780.000
780.000
Perpetual
5.435,127
e5,250,369
Canadian Northern Ontario Ry.—
4% Perpet. Cons.Deb.stk. '09
Bay of Quinte Ry.—
5% 1st M. bonds, 1902
1 1934
3.505.750
3,505,750
4,486,814
h4,359,015
127,761
4% 1st M. deb. stock 1909—.June 1 1939
12,436,280 xl2,436,280
4,319,999
1,460,000
2,859.999
3,000,000
June30 1930
4% 1st M. Wpg. Term, bonds June30 1930
4% Ontario Div. IstM. 1901.June30 1930
3,000,000
5,580,607
164,980
6,580,607
164,980
8,221,907
7,011.324
1,210.688
Oct.
Duluth Winnipeg A Pacific Ry.—
Halifax A 8outh Western Ry.—
160,680
160,680
25,662,545
Total
'42
5,663,667
4,447,000
1,216,667
1.504.000
536,500
1.098,000
406,006
11,430,033
2,238,667
5.019,540
5.019.540
3*$% 1st M. bonds
Canadian Nor. Manitoba Ry.—
1930
Nov. 1 1929
—Nov. 1 1929
Tunnel A Term. Co., Ltd.—
5% 1st M. rent charge stock..Apr.15 1970
4*$% Ont. Div. 1st M. 1901.June30 1930
June
184,758
Perpetual
4% 1st M. bonds 1904
Quebec A Lake St. John Ry.—
4% Perpet. IstM .deb.stk.1912
June30 1930
393,900
Central Ontario Ry.—
4% Perpet. Cons. Deb. stock.
Ry.—
4% 1st M. deb. stock
669,000
Great Northern Ry. of Canada—
(3) Guaranteed by Manitoba Govt.—
% 1st M. deb. stock
693,900
1931
Sept.
Canadian Northern Quebec Ry.—
6,724,015
July 10 1936
1930
—
5% 1st M. bonds 1909
(2) Guaranteed by Province of Ontario—
3H% 1st M. deb. stock
1930
4H% 1st M. Pr. Albert bds..June
35,770,000 c34,229,997
1961
Total Dominion
4% Cons. deb. bonds 1904
669,000
4H % 1st M. Gunflint Br. bds.June
Minnesota A Man. Ry. 4%
1962
April
Canadian Northern Ontario Ry.—
3 H % 1st M. deb. stock
May
7,896,588
17.060,333
25,000,000
deben. bonds 1920—Dec. 1 1940
Canadian Northern Alberta Ry.—
3H% 1st M. deb. stock
.May
1960
4
Held by
61,837,789 e44.943,019 *16,894,770
880,000
880,000
4% Perp. Cons. Deb. stk.1903
Perpetual
4% IstM. Pas Mission bonds.Aprll
1939
ad,359,997
44.866,667
g.
anadlan Northern
J. & D. 30; ft A, & 0.;h J. A J.
$
Maturity.
Canadian Northern Ry.—
3% 1st M. deb. stk. 1903
3
e
Amount of
Total Issue.
Date of
Security—
(7) Unguaranteed Securities—
Canadian Northern Ry.—
7% b.I.
(Subsequent change, chiefly note issue.—see teat).
Mar. A 8. 30; b J. A D.; c J. & J. 20; d M. A N.;
Amount
Maturity.
Security—
a
[Vol. 112.
BONDS
1,620,680
24,041,866
Sept.30
Niagara St. Cath. A Toronto Ry.—
5% 1st M. bonds 1899
5% 2d M. bonds 1910
536,506
Mt. Royal
(4) Guaranteed by Saskatchewan Govt.—
Canadian Northern Ry.—
b8.030,000
5,679,400
14,884.213
8,030,000
4% 1st M. deb. stock 1909...Feb.25 1939
Canadian Northern Western Ry.—
9,726,364
b5,586,666
4,139,699
4^% lstM.deb.stk.1912-T3.Feb.16 1942
4
1st M. deb. stk. 1911-.Oct.22 1943
6,424,000
b6,424,000
2,799,998
14.810,663
4,139,699
20,999,998
8,614,000
5,543,528
4,999,999
16,412,001
8,614,000
4.587,996
40,157.524
25.026,001
15,131,523
107,514,642
79,768,528
27,746,115
9,191,367
d2.799,998
18,950,362
Qu'Appelle L. L. A S. Ry. A C. B. Co.—
4% 1st M. deb. stock 1906—.July 1 1936
James Bay A Eastern Ry.—
6,854,213
4% 1st M. deb. stock
13,709,400
1909_._Jan.23 1939
Canadian Northern Sask. Ry.—
4>$% IstM. deb. stock—_Dec.
Total
1,174,813
1,174.813
1943
...
.
1945
4%(1909)L'd grant bds. (text) July 1 1938
5% Land mtge. debs. 1913—.June 1 1923
1,676,593
17,033,333
Land
(5) Guaranteed by Alberta Govt.—
Canadian Northern Ry.—
-.-.Sept.
Securities—
Canadian Northern Ry.—
*
(6) Guaranteed by Brit. Col. Govt.—
Canadian Northern Pacific Ry.—
Total guaranteed
4% 1st M. deb. stock 1909...April 2 1950
IstM. term'l stk. 1913. April 2 1950
4
4M% 1st M. branch lines stk.April 2 1950
April 2 1950
4^% 2d charge deb. stock
Total
Grand
x
total Provincial
Includes
4s of
$1,652,233 reserved
to
retire
4.999.999
Coal
ft
Ore
Co
Dock
.
sinking fund gold 5s, due Jan. 1 1936 (callable at 105 ft int.)
$1,750,000 outstanding In July 1916.
See V. 103. p. 146, 323
REPORT OP COMMISSIONS.—(V. 104, p. 1700).—V
104 p. 1800,
1754, 2235: V. 105, p. 1207.
REPORT.—Year ending Dec. 31 1920, Y. 112, p. 2078, 2184.
Years ending Dec. 31—
1920.
1919.
1918.
1917.
revenue.--$68.541,393 $55,353,930 $49,062,713 $41,470,022
7,443,369
3,400,437
def.l5,723,875def5,700,648
Not
6,875,466
N. Ry.„
9,455,084 f
Net earnings
Fixed chgs. C.
on
4,890,259
9,974,613
of affiliated cos.
do
Int.
demand, Ac.,l'ns
Balance deficit
19,969,710
i
359.712,007 253,729,601 106,009,407
and unguaranteed
33,673,333
4,301,208
6,721,574
25,000.000
287,402,934
25,000,000
See text
2,000,000
1,750.000
Total fund, debt as per bal. sh. June 30 1917..
convertible deb. stock
Imperial rolling stock equip, trusts (text)
Canadian Nor. Coal A Ore Dock Co.—
5% 1st M. callable at 105—Jan.
1 1936
viz.: Sifton Branch 4s of 1899, due Feb. 1 1929, $1,137,340: Manitoba
Nov. 1 1930. $2,433,
y In June 1918 $4,125,664 of this was In treasury.
M.
Gross oper.
45,319,958
Short-term note Issues (see text).
Income charge 5%
the following underlying Issues,
Northern
PROPERTY.—Canadian
9,733.338
57543",528
1899, due Feb. 1 1929, $512,460; Gilbert Plains Branch 4s. of 1900, due
LEASED
1st
1.675,593
7.300,000
147.584.117 102,264,159
Total unguaranteed
Total
300.00
300.000
5% 1st M. bonds
reported.
Late In 1916 $40,000,000 4% Consolidated debenture stock over and
$176,284,882 (£35,611,124) then listed on the London Stock Ex¬
change. was issued and loaned to the Imperial Treasury for a maximum
period of five years, at a premium of >4% P®r annum, over the Interest
payable on the stock.
Provision is made in the agreement for the sale to
the British Treasury of this stock in annual Installments, should the com¬
above the
require money for any of its purposes in Great Britain, and the
Treasury reserves the right to purchase all or any of the stock during the
five years at 80% of face value.
V. 104, p. 1604, 1388; V. 106, p. 1241.
The balance sheet of Dec. 31 1920 still showed $216,284,882 Oonsol. deben¬
ture stock, including $40,000,000 loaned to Imperial Govt, and $170,284.882 in hands of public.
V. 108, p. 1280.
pany
In June 1890 company
$40,043,831 $25,670,358 $14,497,810
DIRECTORS under Canadian Government ownership: D. B. Hanna,
Mitchell, V.-Pres. in charge of finance and accounts, and E. R.
Wood, all of Toronto; Major Graham A. Bell, Ottawa, Ont.* Robert Hobson, Hamilton, Ont.; Sir H. Laporte, Montreal; R. T. Riley, Winnipeg;
Col. Thos. Cantley, New Glasgow, N. S.; A. P. Barnhill, St. John, N B.
Secretary is R. P. Ormsby; Asst. to President, A.J, Hills, all of Toronto,
Ont.—(V. 112, p. 1282, 1616. 2078, 2184.)
CANADIAN NORTHERN ONTARIO RY.—Owns: Montreal to Port
Arthur, 1,010.94 miles; Toronto to Oapreol,
276.43 miles; Toronto to
Ottawa, 250.25 miles; total, 1.537.62 miles.
V. 92. p. 162: V. 97, p. 1023.
Owns modern ore-handling plant at Key Harbor, 80 miles from mines.
Respecting securities see Canadian Northern Ry. above and V. 87, p. 96;
V. 88, p. 1060; V..93, p. 1190, 1667; V. 92, p. 1635.)
CANADIAN NORTHERN PACIFIC RY.—Yellowhead Pass to Van¬
couver
and Pacific tidewater, about 500 m.; also 15 m., Victoria Co.,
Patricia Bay (in operation).
Also under construction a 150-mile line to the
east coast of Vancouver Isl. and a 145-mile line to Vernon, and thence via
Long Lake to Kelowna and to Okanagan Lake.
V. 92, p. 1309; V. 93, p.
526; V. 101, p. 46; V. 103, p. 2078; V. 105, p. 1207.
Has trackage rights be¬
tween New Westminster and Vancouver,-B. O., 12.67 miles. V. 105, p. 1207;
V. 93. p. 1461; V. 94, p. 1565; V. 91. p. 37, 93; V. 90. p. 696; V. 89, p.
1141; V. 97. p. 80; V. 96. p. 651. 1838; V. 97. p. 297, 364; V. 100. p.
1591.—(V. 105, p. 1207.)
Pres.: A. J.
CANADIAN NORTHERN QUEBEC RY.—Owns Montreal to Quebec,
and branches, in all 405.11 miles.
See V. 95, p. 1402; V. 97, p. 1023.
Capital stock, $9,550,000 common and $3,000,000 statutory stock;
outstanding June 30 1917, $9,550,000.
In Dec. 1919 the Can. North.
(?)
A Southeastern
guaranteed the principal and Interest of $20,000,000
4% bonds issued by the Dul. 80. Sh. ft Atl.; also 4% inlx on Consolidated
bonds of the Minn. St. P. ft S. Ste. M., and In 1899 interest on the 2d M.
4s of the latter.
Owns Dul. So. Sh. ft Atl. consols, $15,107,000, etc.
St. Lawrence A Ottawa bonds are endorsed witn the Canadian Pacific's ac¬
ceptance of a 999-year lease at a rental sufficient to pay 4% int. on bonds,
and the bondholders' agreement to aocept Int. at 4% (Instead of 0%) and to
refrain from demanding principal (due 1910) during lease. V. 90, p. 1361.
The New Brunswick Railway consolidated debenture stock has Interest
guaranteed by Canadian Pacific; interest on the 1st mtge. bonds, though
not guaranteed, Is paid out of rental under 990-year lease of 1890.
The Calgary A Edmonton Ry. debenture stock Is guaranteed interest at
4% under new lease of 1903.
V. 70, p. 435: V. 77, p. 636.
The Lindsay Bobcaygeon A Pontypool Ry. bonds are Issued under a 99year lease oovering the Interest.
V. 77, p. 1225; V. 79, p. 2085.
The First & Ref. M. 4*4s of the Aroostook Vy. (electric) RR. are Issuable
at rate of $25,000 per mile.
Denom. £100 or $500.
Sink, fund, *4 of 1%
yearly of Issued and outstanding bonds from Feb. 1 1916-20, 1% there¬
after.
Call, for s. f. at 105.
V. 89, p. 846: V. 90. p. 107; V. 92, p. 259.
Kettle Valley Ry.—See V. 108, p. 1721, 1282.
Victoria Rolling Stock A Realty4*f% V.99. p. 1672, 543; V. 100.p. 139
Announced in March 1920 that the company would apply to the Canadian
Parliament at Its next session for authority to issue bonds to the amount of
$40,000 per mile or in lieu of bonds to issue consolidated debenture stock to
the same amount for the construction of new mileage to be authorized by
the
Parliament.
In March 1920 sold $12,000,000 6% equipment trust
SPECIAL
Dec. 8
1913
a
ctfs.
V. 110, p.1288.
INVESTMENT
FUND
NOTE
CERTIFICATES.-On
trust fund was created known as "The Special Investment
Funds", made up of deferred payments on land sales and securities In which
proceeds of land sales are invested, to the aggregate of $55,000,000;
Royal Trust Cq. of Montreal, trustee.
Stockholders were offered the
right to subscribe pro rata for $52,000,000 6% note certificates at 80.
The
certificates
are payable at their face value on or before Mar. 2 1924. but
may be redeemed by drawings at any time.
Interest is payable at the
Bank of Montreal In Montreal and also at par at the agency of that bank in
N. Y. City, and at the agency in London at the rate of 4.86 2-3 per pound
sterling.
V. 97, p. 1732, 1897: V. 99. p. 544: V. 103. p. 937.
Compare
V. 106, p. 1242, 1243; V. 112, p. 1409.
Lands.—Lands unsold Dec. 31 1920 were 145,080 acres in Manitoba
the cash
V: 96, p.
£oi:
V. 97.
p.
951
SECURITIES.—Regarding 4% perpetual debenture stock,
see
Canadian
Northern Ry. above and V. 84, p. 968; V. 84, p. 693, 748.
There are $3,505,750 4% bonds of the Great Nor. Ry. of
Canada, guar,
as to prin. and int. by Canadian Nor, Ry.;
Central Trust Co. of N. Y.
Office, Toronto. Ont.—(V. 96. p. 201; V. 97, p. 950; V. 107. p. 2187.)
CANADIAN PACIFIC RY.— {See
Maps).—Owns a trans-contlnenta
railway from Montreal to the Pacific Ocean, made up as followsDec 31 1920
Montreal
to
Vancouver
2,895
•
Branches, leased lines, &c
10,507
Lines under construction
a
Total In trafflo returns
.13,402
357
Also controlled hut oper. sep.—
aMlnn. St. P. A Sault Ste. M—4,242
Duluth South Shore A Atlantic
621
aSee each oompany's statement.
Mileage of other lines worked--
940 Steamships, see V. 112, p. 1408.
The 6 mile tunnel through the Selkirk Mts. was put In use in Dec. 1916.
HISTORY, ETC.—Incorporated Feb. 17 1881 under charter from Do¬
minion of Canada, reoeivlng $25,000,000 In cash as a subsidy; also 25,000.000 acres of land, all to be fit for settlement.
Rate advance with special tax in 1918, V. 106, p. 1229.
Full financial resume by Chairman in May 1918 with statement as to
company's $253,000,000 of outside assets was in V. 106. p. 1906.
ft Slocan
Ry. lease and bonds, see V. 107,
p.
2097.
Kaslo
Wage increases In 1920
V. Ill, p. 1082.
In July 1920 assumed operation for a period of 5 vears of
the Edmonton Dunvegan & Brit. Col. and Cent. Canada Ry. Cos.
See
V. 112,
p. 1408.
Acquisition by Govt, suggested in new rail plan submitted
by Chairman Lord Shaughnessy.
V. 112, p. 1865.
STUCK.—The Issue of preferred must never exceed one-half the common.
COMMON DIVS— lm '04- 06. '07-'09. TO. *11. *12 to
July 1921.
RR. earnings since 1902 ) 5 H 6 yrly.
6 yrly.
0*4 7
7yrly 12*4% quar.
Land sales, int., Ac—J
1 yrly.
1
2H 3 yrly 1
BONDS. DEBENTURE STOCK. GUARANTEED BONDS. Ac.—
List of securities owned Dec. 31 1920, V. 112, p. 1410.
hi The shareholders on May 4 1921 gave the directors blanket authority
to issue any form of security for any purpose, provided it is junior to the
Consolidated Debenture 4% stock, and does not exceed the amount of this
stock.
It was also announced in London on May 6 1921 that the company
had sold £800,000 5% debentures.
V. 112, p. 1976.
—
(book value $1,450,800), 1,228,324 acres in Saskatchewan (book value
$15,968,212), 2,496,455 acres in Alberta (book value $41,224,843), 1,073,404
in British Columbia (book value $5,273,552), Ac.
Total of all lands
owned Dec. 31 1920, 5,611,563 acres (book value $91,977,838),
SUB. COS.—Dominion Atlantic Ry., Yarmouth to Truro, with branches,
total 247 miles, with 45 miles trackage to Halifax, is leased for 999 years
from 1912.
V. 91. p. 728; V. 90. p. 1490,1424; V. 93. p. 1461; V. 94, p. 278.
Alberta Ry. A Irrigation Co., see V. 92, p. 955; V. 93. p. 593; V. 94, p.
1316: V. 95, p. 617.
Quebec Central Ry., see V. 93. p. 667, 1106; V. 94.
p. 1625; V. OB. p. 361
715.
EARNINGS—Jan. l-Mar. 31—
1921.
1920.
Gross..
$41,910,144 $43,187,609
Net.
3,905,726
3,257,579
acres
REPORT.—Report for 1920, in V. 112, p.
Calendar
Years—
(1) Revenues—
Passenger
Freight
Mail, express, Ac
1920.
1408:
1919.
1918.
1917.
$
$
$
$
49,125,739 46,182,151
30,837,254 30,238,986
145,303,400 111,064,442 110,187,288 103,635,795
22,212,210
19,682.467
16,513,156
18,514,554
Total earnings
216,641,349 176,929,060 157,537,698 152,389,335
34,502,388
46,546,018
32,933,036
33,153,044
10,177,513
10,229,143
10,161,510
10,775,409
500,000
500,000
500,000
500,000
To special income acc't_
193,977
1,968,683
Com.divs.7% p. a.(with
3% p. a. from special
18,200,000
income—below)
18,200.000
18,200,000
18,200,000
Pref. divs. (4% p. a.)
3,227,276
3,227,276
3,227,277
3,227,276
Net
earnings
charges
Pension fund
Fixed
Balance, surplus
450,359
844,250
2,203,662
12,420,916
RAILWAY
May, 1921.]
Miles
Date
Par
Road
COMPANIES
Ac., see notes on page 6]
RAILROAD
[For abbreviations,
Bonds
Value
Canadian Northern Ontario! See Canadian
Canadian Northern Pacific
Northern Ry.
Canadian Northern Quebec)
above
Canadian Pacific—-Stock $335,000,000 authorized
Preferred stock limited to 4% non-cumulative
r
First mortgage on Algoma Br g
c* Ar
Oonsol perpetual debenture stock
Note Certificates special Investment fund red par..
Vic Roll StkARealtyCo eq tr serT$470,00OsaPeP.c*
Equip tr cert $500,000 s-a
Securities of Principal Leased, Ac., Lines.
Manitoba S W Col Ry $12,QOO per mile Int guar gold
Atlantic A Northwest—1st mortgage gold gu._o*Ar
St Lawrence A Ottawa—first mortgage gold see text
1889
g J
Ac
$2,544,000
£1,330,000
5 g
£50
Ac
£200.000
(0) 4
$100
$2,000,000
£4,007.381
678
£1
191
1883
1884
£1
£100
52
39
1903
1909
32
e
1911
A At lantlo
Baring Bros A Co, Lond
Can Pao office, London
3% Montreal and London
Irredeemable
Morton, Rose, London
Toronto and London
July 26 2882
London
.
Aug 1 1934
&
&
Irredeemable
A
Jan
2002
Can
1955
Can Pao Office, Montreal
Bk of Montreal, Toronto
J
A
500.000
4 g
J
A
5
J
£694,850
604,837
338.000
330,500
$250,000
July 1 2002
J15 Jan 15 1921
F
3 H
5
J
A
J15 Jan
1
J
A
J15 Jan
1
Guaranty Trust Co, N Y
*
8
g F
4H
1902
1908
1909
31.89
1917
A
2H
N
1 1929
A Aug
1,000
par
Total..
1917.
1918.
$2,214,869
6,913,882
$8,128,751
$3,724,729
6,988,580
$10,713,300
7,800,000
7,800,000
$2,913,300
Total special income
18;580,292
15,413.842
14,164,501
13,835,751
OFFICERS.—Chairman, Lord Shaughnessy, K. C. V. O.; Pres., E. W.
Beatty; Vice-Presidents, I. G. Ogden, W. R. Macinnes, Anthony D
Mactier, D. C. Coleman and Grant Hall, Montreal; Sec., Ernest Alexander,
Treas., H. E. Suckling; Compt., J. Leslie.
Head office, Montreal.
DIRECTORS.—Richard B. Angus, Sir Herbert S. Holt, Chas. R. Hosmer, Hon Fred. L. Beique, K.C.,
Lord Shaughnessy, K.C.V.O., Colorel
Frank S. Meighen, John K. L. Ross, Edw. W. Beatty, Sir Vincent Meredith
and Grant Hall, Montreal, Can.; Hon William J. Shaughnessy, Victoria,
Balance...
$1,249,341
$3,166,448
..
$328,751
B. C.; Sir Edmund B. Osier and Sir John C. Eaton, Toronto; Sir Thomas
Skinner,
London,
Madison
Ave.
2189.
Eng.;
Sir A.
M.
Nanton,
Winnipeg.
N.
Y.
504.000
Office,
A 44th St.—V. 112, p. 1398, 1408, 1739, 1865, 1976, 2082,
\
11.500.000
were
N Y
Wash (D C) LoanATr Cc
Blair & Co., N. Y.
1 1933
J Jan
D June 1
1938
Blair & Co.. N. Y.
A Co. New York
A
Blair
*A
J July 1 1935
New York Tr. Co., N. Y.
J
J
5 g
5 g
Augusta, Me
J July 1 1930
1 1922
J Jan
A
See text
6
5 g
5 g
150,000
1.000
J
6
91,000
456,000
1917
$9,049,341
7,800,000
7,800,000
1,000
1,000
1917
1919.
$6,243,577
2,805,764
.$10,966,448
Dividends (3% p. a,)...
1912
1914
A
A
5 g
6 g
6 K
4,324,000
400,000
1917
Promissory notes for Black Mt Ry securities
Eq gold notes Ser"C"(V.88,p.451)due $50,000 s-aNx
do
do
Ser "E
due $13.000s-a
N
do
do
Ser "F" due $38,000 s-a
Nx
do
do
Ser "O" due $42,000 s-a not call CPv
(2) Other Income—
1920.
Earnings Ocean SS., Ac..$6,472,403
Int., divs., Ac., ree'd
4,491,045
1,000
1.000
and
Y
Bankers Trust Co,
mpanles
oo
5 g
i.000 See text
1920
256
London
A
MAN July 1 1961
4H
195.000
13.950.000
5,000.000
256
1st M gassu._x
F.xo*
par ext-Eq.xo*
ext. (text).Nyc
Office,
1963
A
Carolina Central—Bonds—See Seaboard Air Line Ry
Cmro Clinchf & Ohio—Lick Crk A L E
1st M $15,000,000 red 110
Mortgage gold notes $5,000,000 red
Elkhorn 1st M g notes (Call at par)
v
Cumulative income debentures red.
Pao
1963
those
of
A
1 1933
4
455.832
—See sta tements
do
&
3
A
500 Ac
See
text
1920
4
J 3
.
London A 64 Wall St N >
1 1937
D Dec
&
4 g
5 g
$1,040,000
$1,000
1,000
J Jan
&
4 I
4
...
Aroos
J
5
$500,000
£1,121,700
1890
1905
•
See text.
D June 1 1934
&
Wall St, N ¥
& D15 See text
J
6
£719,000
£600.000
£904,533
£100
1890
174
O Oct
&
51
£100
A 64
Office, Lond
Baring Bros A Co, Lond
Company's Office. Lond
'28
'21-Aprl'32 Guaranty Trust Co, N Y
&
A
6 g,
ana
Company's
8 Mar 2 1924
J July'21-July
&
A
Where interest
Dividends are Payable
O Apr 1 1921 2%
J July 1 1937
J Irredeemable
A
M
1870
81
prin and Int guaranteed
J
4H
7,050.000
11,000,000
1884
1887
1st M
Val (El) RR 1st M g red 105 int guar
First A Ref M $1,700,000 call 105 int guar.Ba.xc*
Minn St P & Sault Ste Marie and Duluth South Shor
&
52.000,000
Places
June30 1921 2\i Lond
&
J
Dittdena
and Maturity
Q—J
A
5 g
4
58
215
Calgary & Edmonton deb stock gold interest as rent
Branch line bonds $1,040,000 (owned by CanPao)
Lindsay Boboayg & Pontypool 1st M $700,000 gold
Quebec Central stock dividend guaranteed
1st M deb stk Int gu red 110 after 20 yrs
2d M deb stock prin and int guar
3d M bonds
10
4
346
perpetuity..
In perpetuity
Interest as rental
from rental—o*
Perpetual oonsol debenture stock, interest guar..
So
Payable
See text
$1,000
1916
1920
Toronto Grey & Bruce 1st M gold
New Brunswick Ry 1st M gold int
Brunswick
When
%
3,650,000
Ac
$20. Ac
$1 000
1,000
1914
mtmrn.
Ontario & Quebeo stock guaranteed in
Ontario & Quebeo deben Interest guar
New
£100
£ A $
Last
Rate
'Amount
Outstanding
$100 $260000000
80.681.927
$100
1888
180
27
STOCKS AND BONDS
Aug '21-Aug '22 Blair
A
A
Co,
York
New
A
'21-Oct' 24
do
do
July
'21-Jan *27
do
do
A
'
Oct
&
Oct
*21-Apr '27 Commercial Tr Co. Pbila
used to retire all underlying bonds and
$1,000,000 were
to extensions,
new
equipment, Ac.
Year 1915-16, gross,
$461,626; net, $123,701; other income, $248; interest, taxes, Ac., $167,707;
bal.. def., $43,844.
Year 1917. gross, $471,228; net. after taxes. $135,466.
Pres., W. A. Barber; Treas., F. S. Wynn, N. Y.—(V. 105, p. 605; V. 107.
p. 500,1099.)
applicable
,
,
CAROLINA & YADKIN RIVER RR.—Owns High Point via Thomasville and Denton to High Rock, N. C., 35 miles.
Freight Is switched elec¬
trically to the main line.
1
Coupons due June
Coler
some
On June 8 1917 W. N.
1917 remain unpaid.
A Co. of N. Y., who had financed the enterprise and then
$250,000 bonds and $1,800,000 stock, made an assignment to
D. Hammond of Brooklyn.
Bondholders' committee; Alvin W. Krech,
_
owned
Arthur
_
Chairman; Samuel Armstrong.
depositary.
Reorg. proposed. It is hoped
2451; V. 105, p. 2542.
Stock autnorized. common. $3,000,000; pref., 5% non-cum., $1,000,000;
outstanding, common. $1,540,000, and pref. $300,000; par $100.
Pres., Ahdn W. Krech, N. Y.; Sec. A Treas., L. H. Hole, Jr.
Office,
High Point, N. C.
N. Y. office, 43 Cedar St., N. Y.—(V. 104, p. 2451;
Sec.;
Equitable
Trust
Co..
V. 104, p.
without foreclosure.
V. 105, p. 2542.)
CAROLINA
CL1NCHFIELD
OHIO
&
RY.—(See Map.)— owns from
City, Ky., to Spartanburg. S. O.. 277 m.: branch, KIser. Va., to
Laurel Jet., Va., 6m.; trackage, Kiser to St. Paul, Va., 8 m.; total, 291 m.
The line forms a low-grade heavily built link In the through line for
general traffic between the Great Lakes and the Atlantic seaboard,
serving also extensive coal operations owned by Ciinchfield Coal Cor¬
poration.
See V. 101, p. 2070; V. 102, p. 611; V. 94. p. 1448; V. 97.
CATASAUQUA A FOGELSVILLE RR.-Catasauqua, Pa., to Rlttenhouse Gap. Pa.. 19.67 m.. and branches. 31.76 miles. Stock, $426,900 (par
$25); $254,300 Is ownediby Reading Co.
Divs. paid in 1904-05, 7%; in
1905-06, 8%; in 1906-07] 8%; 1908-09, 8%; 1909-10, 10%; 1910-11, 10%;
1911-12. 10%; 1912-13, 10%; 1913-14. 10%: 1914-15. 20%; 1915-16. 15%.
1916-17, 30%; 1917-18, 30%; 1919, 30%; 1920 , 20%.
For cal year 1920,
S.ostlc, N. O., with Seaboard Airp. 900;Ry., 104, p. 75. 365. relations are
1661; V. 98, p. 1692; V. 100, Line V. with which close Connects at
fross, $618,498; net after $275,601.—(V. 81,
taxes, $279,390.
559,029; net, after taxes,
Elkhorn
maintained and tidewater is reached.
V. 88, p. 944;
V. 87,
p.
670.
See
report of expert. V. 102, p. 2076.
In
Feb.
1910 aranged with Southern Ry. to send coal to Charleston,
S. C.. for export, Ac.
V 90, p. 558; V. 95, p. 359.
STOCK.—Authorized, $50,000,000, of which $25,000,000 is 6% pref. and
$25,000,000 com.; outstanding, $25,000,000 com. and $11,500,000 pref.
of which $1,500,000 has been owned by Holston Corp., a subsidiary of the
railway.
A further $2,000,000 pref. was deposited with trustee of mortgage
gold notes to provide for conversion of notes.
V. 94, p. 1625; V. 103.
p. 1980.
Dividends on pref.. 3% semi-annually March 1913 to Sept. 19l4,
inclusive.
None since to May 1921.
BONDS, ETC .—First mtge. of 1908, V. 86. p. 667, 856; V. 88, p. 944.
The $2,000,000 1st M. 5% notes, due July 1 1919, were extended at 6%
int. till July 1 1920.
On the latter date the notes were again extended to
July 1 1930 and the issue increased to $5,000,000, all of which have been
deposited with the Govt, as security for a loan of $2,000,000.
This total
issue of notes has the right of conversion into pref. stock $ for $.
V. 109,
1179; V. 89, p. 285.
The $6,000,000 Elkhorn Extension 5-yr. 1st mtge.
5% notes were sold to refund $5,500,000 maturing notes (issued to
construct Dante to Elkhorn) and for other purposes.
No additional mort¬
gage Is permitted while these notes are outstanding.
The notes were ex¬
tended from Jan. 1 1920 to Jan. 1 1922 at 6% int. with a 2% cash bonus.
In Oct. 1920 $1,000,000 of the notes were re-acquired and, together with
$500,000 1st Mtge. 5s of 1938, pledged as security for 1-year 6% Govt. loan.
V. 104, p. 1044; V. 106, p. 2219; V. 110, p. 77.
Car trusts of 1917, V. 104.
p. 2235.
On May 18 1917 for purchase of $475,000 First Mtge. 5% gold
bonds. $50,000 6% Convertible First Income debentures and $250,000 6%
Second Income debentures of Black Mountain Ry. Co. (Kona, N. C., to
Eskota, 24 m.; in 1918 built 2.30 miles in Nor. Caro.) gave $475,000
6% promissory notes dated Mayl51917, reissuable from time to time with
a final maturity date not later than Jan. 1
1920.
An option to purchase
the entire $50,000 capital stock was also obtained.
V. 106, p. 22l9.
Cumulative income debentures, V. 112, p. 161.
Govt, loan, V. Ill,
p. 261, 293, 1471.
Federal Contract, signed in Feb. 1920, fixed annual compensation at
$1,839,255.
The company refused the six months extension of the guaranty.
The guaranteed securities (see V. 103,p.1588) included $1,500,000 Holston
p.
Corporation notes (callable at par and convertible $ for $ Into Car. CI. A O.
pref stock.—See stock above.
Net after taxes
107.654
REPORT.—For
calendar
1,526,364
239,098
1,348,497
reported by company on company
basis disregarding Federal compensation.
*
Years end. Dec. 31
—
1917.
1920.
1919.
1918.
2,547,222
Coal carried, tons.
4,261,427
3,877,502
2,966,917
$4,285,390
Total oper. revenue
$7,560,980
$6,277,826
$5,022,077
1,608,203
Net after taxes.
2,318.716
1,348.732
1,019,598
623,721
Hire of equipment, Ac— 1,151,910
142,683
101,158
year
as
-.
$3,470,626
Int. on funded debt
$1,605,274
Int. on equipment trust..
288,290
Misc. int. and rents
21,203
$1,491,415
$1,211,199
251,344
71,092
$1,120,756
$1,107,268
124,729
123,319
$2,231,924
$1,122,761
def._sur.555,859
def.$4,220
def.234,560
sur.899,794
>
Total income
Balance,
stir,
or
152,984
56,284
Campbell, V.-Pres.,
Sanders, Treas., Johnson
293, 492. 1471, 1847, 1948. 2227; V. 112, p. 161.)
OFFICERS.—Norman S. Meldrum, Pres., and J. J.
24 Broad St., N. Y.; I. McQuilkin, V.-P.; John W.
City. Tenn.—(V. Ill, p.
CAROLINA & GEORGIA RY.—(V. 112,
p.
61)
CAROLINA & NORTHWESTERN RY.—Owns standard-gauge road,
Chester, 8. C., to Edgemont, N. C., 1333^ miles.
V. 107, p. 502.
The
Albemarle Steam Navigation Co. was acquired in Sept. 1918.
Stock auth., $1,000,000 each of com. and 4% non-cum. pref.; outstand¬
ing, $854,250 com. and $550,000 pref. stock.
Of the first 5s due 1953«
Newberry Jot., Pa.,
track, 40.07 miles; total, 222.20 miles.
Re-leased
to Philadelphia A Reading Railway.
Rental,
Int. on bonds, 5% divs. on pref. stock, all taxes and $8,000 for org. exp.
See also V. 83. p. 969. 1116.
In Nov. 1917 paid the dividend of 2H%
104.05
miles;
Deo.
1896 for 999
1
second
years
on the pref. stocks less 5 cents per share for war Income tax; May 1918 paid
2H% on pref. stock.
In Nov. 1918 the dividend of 2H % on the preferred
stock was paid less 12 cents per share for war income tax.
In May 1919
paid 2H% on the preferred stock less 13 cents per share for war income tax.
in Nov. 1919 and May and Nov. 1920 and May 1921, paid 2H% loss 10 cts.
for corporate
mon,
96,
income tax. Of the pref. stocks, $1,000,000 Is 2d pref. Com¬
par,
$50.
Reading Co. owns $732,800 common.—V.
$1,159,500;
p.
1421.)
CAYUGA & SUSQUEHANNA RR.—Owns from
Ithaca, N. Y., 34 m.
Susquehanna River to
Leased during length of charter and renewals thereof
A Western at a rental of $54,600 a year.
Divs. paid
occasional extra: 1904 9H % was paid. V. 106, p. 497,
to the Delaware Laok.
are
9% yly., with an
CENTRAL
ARGENTINE
RY.,
LTD.—ROAD—Extends
from
Ayres, a city with a population of about 1,800,000, through
the city of Rosario, to Cordoba, Santa Fe and Tucuman.
Comprises 3,305
miles of track (all except 202 miles is owned In fee; and partly double-tracked).
Buenos
Proposed extensions, V. Ill, p. 389
ORGANIZATION.—Originally organized In 1863.
Operates under a
perpetual concession and an amended law contract running until 1947,
entitling It, without restriction, to charge such rates, payable in gold equiva¬
lent, as will net 6.80% on the capital investment recognized by the Argen¬
tine Government, now amounting to over $250,000,000.
In lieu of taxes,
3% of the net receipts go to the Government.
Outstanding Capitalization tat $4 86 to £) June 30 1920.
*
Cent.Deb.3H%stk.(150m)
£88,28815-year 6% notes (new)._
£500,000
iH% West. Ann.(202m.) 2.017,600 4H% "on-cum. pref. stk. £9,695.718
4% Deb. stk. (gen'Tchg.).13,459,003 Consol. ordinary stock.. 28,186,950
10-year 6% notes (new).. 3,092,7831 Deferred stock
811,800
The Consol. Ordinary stock is entitled to non-cum. 5% dividends before
the deferred stock receives any dividends and shares equally with the de¬
ferred stock in the distribution of earnings after the latter has received o%.
Offered in March 1917.
V. 104. p. 256, 1044, 1144; V. 105. p. 1998.
Equipment trusts ($6,043,500) issued to Director-General for rolling stock
allocated to this company.
See article on page 3.
—Jan.
1—Mar eft 31—
—Jan.
1—Dec.
31—
1921.
1920.
1920
;
1919.
Gross
$1,753,274
$1,633,140
$7,634,328
$6,277,826
For cal. year 1919, gross,
149.)
p.
CATAWISSA RR.—Owns from Tamanend, Pa., to
CONVERTIBLE
NOTES.—These have interest
payable without de¬
duction for any taxes Imposed by Great Britain or the Argentine Republic.
Denom. $1,000. Prin. and int. payable in N.Y. in U. S. gold at office of
J. P. Morgan A Co.; In Ixmdon at
London County A Westminster Bank at
$4 85 per £1 sterling.
The entire issue, but no part, may
102 and Int. on and after Feb. 1 1922 upon six months
at
They are convertible at option of holder any time after
prior to redemption into ordinary shares of £10 each, at par,
be redeemed
notice. ■
Jan. 31 1918
$4 85 per £1,
EARNINGS.—For fiscal year ending June 30 1920.
June 30 Years—
1919-20.
1918-19.
1917-18.
Gross earnings
Net income.
£9,769,754
£3.308,374
836,724
436,000
(6%}922,827
Interest, Ac
Pref. stock (4^%)
Ordinary
stock
£6,925,798
£1,330,586
836,724
436,000
(2)564,047
£6,184,089
£1,860,996
833,044
436,000
(2)564,047
1916-17.
£5,240,000
£1,882,000
1,078,000
436,000
(1)282,000
Balance, sur. or def_sur£l .112,823
sur£49,746 sur£27,905 sur£86,000
Chairman, Sir Joseh W. Todd, Bart.
Office, 3A, Coleman St., London,
389,1948.)
E. C. 2.—(V. Ill, p.
CENTRAL OF
GEORGIA
Lines owned in fee—
Savannah
to
RY.—Operated Dec. 31J919, 1,924 milesj
Chlokamauga to Durham.
18
Miles
293
Atlanta
Gordon to Covington
Columbus to Birmingham, Ala.
Columbus to Amerlous
Montgomery to Eufaula, Ala
Columbus to Greenville, Ga
Opellka to Roanoke
Gufaula
to
Ozark
Griffin, Ga.. to Chat., Tenn., Ac.
82
156
62
81
•
49
30
60
198
Savannah to Tybee
Columbus
to Andalusia
Macon Junotlon
to Athens
Brewton to Dover
Barnesville to Thomaston
Lyerly Branch
Upper Cahaba Branch
Greenville to Raymond
Total owned
—
18
138
102
77
10
4
11
24
1 427
38
[VOL. 112.
RAILWAY STOCKS AND BONDS
T LA N T 1 C
N
0
OF
THE
CAROLINA,
CLINCHFIELD
OHIO
AND
RAILWAY
Date
Road
&c., see notes on page 6J
Bonds
& Ohio (Concluded)—
and Int., by Bndorsem't—
Clinchfield
.
Bonds Guaranteed, Prin.
1st M
Northern
Caldwell &
Value-
Rate
When
Outstanding
%
Payable
1916
$1,000
1903
x
1,000
1,000
1907
mm
Central Argentine Ry—Conv gold notes call (text) Q
Central Arkansas A Eastern—See St Louis Southwest
Central of Georgia Ry—Common stock
Preferred stock 6% cum
A
A
O Apr
J
A
5
J
A
do
3d
j
Central RR A Bit
If earned {
gold
■
tmm m
mrn'mm
1919
■mmmrnmmm. m.
312
1895
1,000
••
«
J
A
138
1895
102
77
1895
1897
164
1901
138
1897
12
1905
24
1905
Columbus
Smithvllle to Columbia
Cuthbert to Fort Gaines
Augusta & Savannah RR.—
71
85
20
A
A
J Jan
F
A
A Feb
m
—
Total
Rentals and miscellaneous
Preferred
dividends
~§I
J July 1
do
135.500
5
Oct 1
Nov
k
5
Oct 1
Nov
1 1945
47.500
5
Oct 1
Nov
1 1945
4.840,000
5
Guar Tr Co,N Y or Sayan
do
do
1 1945
103.750
do
do
Guaranty Trust Co, N Y
MAN May 1 1937
E
do
Union Trust Co, New 1
1947
21-Aug *25 Guaranty Trust Co, N Y
do
do
'21-Sept '25
A
1.924
31 1919
720,238
$4,132,425
2,094.954
754,821
$3,700,418
1,986,889
$4,978,688
$4,091,536
1,270,706
$5,362,242
1,997.411
724,203
508,242
900.000
250,000
900.000
250,000
1961.)
34 m.: total owned,
total, 301 miles. V. 89. p. 918; V. 95, p.
1976.
during
J July 1921 2K% Savannah, Ga
Cltizeni«'Pk.Savannah.Ga
J July 2 1930 .
4%
on
tb« pref.,
Dividend
$4,800,000; pref., $3,750,000; par, $100.
After
both classes participate equally.
pref., 4%. paid in 1913-14: in 1914-15. 6% on
non-cum.
on
pref. and about 2% on common.
Cal. year 1916, 7*4% on pref.
*-*% on common; 1917, 5M% pref. and 1K% on common.
In 1918
1919 paid 6% on pref. and 2% on common.
BONDS.—The 1st guaranteed 4s
of 1911 ($25,000,000 auth. Issue) are a
unsold,
road and the Poughkeepsle Bridge; those
first Uen on 141 miles of
and
and
(except $287,000 reserved for Dutchess Co. bonds) are set aside for not
exceeding 75% of the cost of extensions, additions and improvements.
V. 98, p.
1315.
V. 92, p. 1374. 1635; V. 94. p. 206; V. 96, p. 134.
The outstanding $18,000 Gen. Mtge. income bonds.due Feb. 1 1949. on
is regularly paid each Oct. 1. are
V. 103. p. 1031: V. 105, p. 997; V. 107, p.
V. Ill, p. 1660.
.
which 5% p. a.
posit.
covered by a special de¬
1099; V. 109, p. 1079.
Government loan,
-Jan. 1—Dec. 31
Jan. 1—Mar. 31
LATEST
Gross
$2,196,242
560,337
...
Net after taxes
REPORT.—For
1920:
Gross,
1919.
1920.
1920.
1921.
EARNINGS—
$6,757,408
398,429
$7,787,075
$1,284,527
def674,754
def638,045
$7,818,475; railway oper. income, def.,
$817,260; other Income, $549,916; deductions, $2,492,787: bal, def., $2,760.131; less Govt, guarantee, $3,104,911; net corp. income, $344,780.
OFFICERS.—O. L. Bardo, Pres.; A.
Sec.—(V. Ill, p. 1660; V. 112, p.
CENTRAL PACIFIC RY.
Lines Owned—
Oakland. Ac., local lines
18.84
Oakland pier to Elvas, Cal
133.46
Sacramento,
Cal.,
to
Cecil
Jet., near Orden, Utah
692.20
Nlies to San Jose, Cal
17.58
Niles Jet. to Redwood Jet
16.24
Jet., Nev.,
Ogden, Utah
Umbrla
to
34.39
Natron to Oakridge. Ore
142.90
Mojave to Owenyo. Cal
Fernley. Nev., to Westwood,
136.60
Cal
139.08
Branches
near
141.64
Lathrop to Goshen Jet., Cal__146.57
RoseviBe,
Cal.,
to
Oregon
State
S. May, Treas.; Arthflr E. Clark,
1976.)
(See Map of Southern Pacific.)
Miles. Hazen. Nev., to Keeler, Cal_. 288.65
127.38
Weed, Cal., to Kirk, Ore
296.58
Line
Leased
17.44
33.61
.-j.
________
Less leased to So. Pac.
RR__.
Dec. 31 1919__2.288.97
Tot. oper.
ORGANIZATION.—Incorp. In Utah In July '99. per plan In V.68,p.378.
In 1914 the Government brought suit to separate the company from the
Southern Pacific Co., but lost in lower Court In 1917.
V. 104, p. 1044.
entire $67,275,500 com¬
STOCK.—The Southern Pacific Co. owned the
mon
and $17,400,000
common
pref.
after 4% on each.
LATE DIVS.
Preferred,
Common,
%_
%_
„
Pref. Is 4% cum. and participates equally
All pledged for its coll. trust 4s.
V. 96, p.
'09. '10. '11. '12. '13. *14. *15.
6
6
10
6
6 26.6 4
6
6
10
6
6 26.6 IK
..
*16
4
IK
'17.
with
419.
'18. '19.
6
6
4
6
6
4
$100,000,000. V. 69. p. 808
225, 285, 479: V. 88. p. 52.
Thirty-year gold 3 Ks, $25,000,000, secured by a second lien upon all the
properties oovered by the 1st Ref. mtge. and also by deposit with the trus►tees, as acquired, of all securities and moneys held In any sinking fund of the
Central Pacific Ry., consisting Dec. 31 1918 of $4,585,779 in securities and
$127 cash, and by a trust deed upon all the lands covered by mtg. dated
Oct. 1 1870.
See Mortgage Abstract, V 69, p. 858, also see p. 851.
From
the proceeds of these sinking funds and landsales cancellations of bonds are
made from time to time; to
Oct. 1920 $17,730,000 had
b*en canceled
or purchased for cancelation, reducing those outstanding to $7,270,000.
Lucin Cut-off 48 are call, at 107K.
V 79. p. 1641: guar., V. 80, p. 162.
In Feb. 1911 the sale was arranged In France of 250,000,000 franos 4%
35-year coll trust bonds, guaranteed by the Southern Pacific Co (the latter
pledging as security for the guaranty part of Its interest in affiliated cos.,
notably So. Pacific RR.).
V. 92. p. 593, 794; V. 94, p. 130, 1762.
V.
BONDS.—First Refunding mtge. gold 4s.
and V. 70. p. 739;
V. 78. p. 228; V. 87. p.
Federal Oper.
2,980.180
J July 1 '25 (ext) Guaranty Trust Co, N Y
J July 1921 2y% % Savannah, Ga
J July 1921 2H% Savannah and Macon'
STOOK.—Common,
418.
^ORGANIZATION.—On Dec.31 1920 the N. Y. N. H. & H. RR. owned
$3,737,083 pref. and $4,795,054 oom. stook.
V. 85, D. 404, 858; V 89
p. 469; V. 90, p. 1238, 1296, 1489; V. 91. p. 153, 396, 870.
The stock¬
holders in May 1921 voted to merge with the N. Y. N. H. & H. RR.
A Aug
MAS Sept
A
A
Ill, p. 69:
Poughkeepsle, N. Y„ to Boston Corners.
(contract executed).
A
F
J
Southern
yearly
A
J
4 g
4 g
J
$4,646,392
$3,450,903
101,672
Compensation.- -$1,468,123.63
J
5g
Guaranty Trust Oo, N Y
a
and leases and controls Hartford A Conn. Western RR., Hartford
Rhinecliff, 110 m., and branches, 17 m.; trackage, Hopewell Jet. to Dan-
Federal
4 g
2,057.000
343,000
135,000
135,000
our
5 g
138 m ;
V. 112, p.
A
5
Savannah. Ga
189.000
CENTRAL NEW ENOLAND RY.—Owns from Campbell Hall, crossing
by Its own bridge, to Sllvernalls, 34 m
Poughkeepsle, N. Y., to Hopewell, 12 m.; Dutchess Jot., N. Y., to State
bury. Ac., 35.11 m.;
J
D June 11926
J Jan 1 1947
D June 1 1951
1.000
1900
the Hudson River at Poughkeepsle
to
A
A
$55,287 $1,490,628
OFFICERS.—Chairman. Charles R. Markham, Chicago. 111.; Pres.,
W. A. Winburn; V.-P., L. A. Downs. A. R. Lawton, Albert O. Mann; Sec.,
Charles F. Groves; Treas., W. C. Askew.
General office, Savannah, Ga.;
N. Y. office, 32 Liberty St.—(V. 112, p. 371. 469, 561, 1282.)
CENTRAL INDIANA RY—Muncie to Brazil, Ind., 117.74 miles.
Controlled by Cleveland Cincinnati Chicago & St. Louis and Pennsylvania
RR. interests.
Bonds, guaranteed by Cleve. Cin. Chic. A St. Louis
(which owns $60,000 stock;, are limited to $20,000 per mile.
The Penn. Co
on Dec. 31 1919 owned $750,000 of the $1,500,000 1st M.
4s. V. 77. p
517, 2279;
V. 78, p. 1906, 1961.
Stock
$120,000. The Penn. Co
owns $60,000 stock.
Calendar year 1916. gross, $225,888; def. under oper
exp., $16,544; other Income, $548; charges, $89,761; bal., def., $105,756.
For 1917, gross, $303,654; bal., def., after taxes, $25,144.
Pres., J. Q.
line, 53 m.;
J
A
$132,650
Van Winkle.—(V. 78. p.
do
5 g
&
Medrim to Lyons, 58 m.
900,000
250,000
surplus
Balance,
do
J
acquired by the Illinois Centrral
V. 88, p. 1559* V 84 p 1550;
(6%
D Deo
J
30(
am*
Ry., Sylvanla
Central and Louisv. & Wadley RR.
Common dividends (5%
A
J
903,405
income
do
J
5
$2,407,088
$3,408,809
126,930
3,229,020
Interest on bonds, Ac
do
6
1919.
1918.
1917.
$21,696,511 $20,692,888 $16,024,537
19,289,423 16,046,496 11,045,849
(after taxes), Ac
J Jan
7 g
333
Compensation.—$3,408,809 yearly, including Wadley Southern
Ry. and Sylvania Central Ry., during Federal control (contract executed).
V. 108, p. 1060.
Government loan, V. Ill, p. 492; V. 112, p. 371, 469.
DIVIDENDS.—On common stock. 1913 to Dec. 31 1920, 5% per annPref., 6% p. a. since June 1913.
V. 108, p. 2240.
BONDS.—The first mortgage of 1895 (described In V. 63, p. 1160) and
V. 84. p. 529. 605; V. 87. o. 550.
Application for listing firsts and oonsols In V. 63. p. 1160.
Consol. mtge, (see abstract V. 61. p. 873; also V. 63, p. 1160; V. 83, p.
1347).
V. 85, n. 605; V. 89. p. 777
Collateral trust mortgage abstract was in V. 45, p. 242.
Chattanooga Division mortgage, V. 72, p. 1134; V. 78, p. 1446.
Upper Cahaba Branch bonds, V. 81, p. 920, 1099.
The shareholders on
May 28 1919 authorized (a) a General & Refunding Mtge. bond issue and
(6) an issue of Ten-year 6%_ secured bonds (see offering V. 108, p. 2240)
amounting to $8,000,000.
Redeemable on 60 days' notice on June 1 1924
or any int.
date thereafter upon premium of H of 1% for each 6 mos.
between redemption date and date of maturity.
Secured by the deposit of
the initial $11,000,000 6% Ref. & Gen. Mtge. bonds. Series "A," due
April 1 1959.
The authorized maximum of the Ref. & Gen. Mtge. bonds
(including amounts issued; issuable or reserved to refund $31,462,300 out¬
standing prior lien bonds, the extension of these old bonds being forbidden)
is limited to three times the capital stock, which makes a present limit of
$60,000,000.
The Gen. & Ref. Mtge. dated Oct. 1 1912, under which
$11,135,000 bonds were authorized to be issued but none of which were out¬
standing, has been canceled.
V. 108, p. 1822, 2240, 2329, 2432.
Income bonds (interest regularly paid)—see preferred stock above.
Equipment trusts, Series M.
V. 112, p. 561.
LATEST
Jan. \~Mar. 31
Jan. 1—Dec. 31
EARNINGS—
1921.
1920.
1920.
Gross
$5,593,504
$6,450,047 $25,116,869 $21,696,510
Net after taxes
defll,296
deff,95,986
def3,345
1,631,520
Income
A
6K
(leased to Seaboard Air Line).
equlv. of
Other income
J
*1,022,900
5,191,100
435,400
Federal
Net operating revenues
Federal compensation
Federal tax accruals
do
5 8
5 g
1946
1946
1945
do
840.000
462.000
168.000
413.000
100
100
1082, 1268; V. 86, p. 667.
On June 3 1912 $15,000,000 pref
stock was issued to retire the income bonds acquired by 111. Cent. ($14,461 ,♦
000). remaining $539,000 as presented; V. 94, p. 1316. 1565; V 95. P 1037
Calendar Years—
do
J Jan
4K
p.
Operating revenues
Operating expenses
do
A
rnmmmmmmm
500.nnn
Controls Wrlghtsvllle A Tennllle
REPORT.—For calendar year 1919, in V.
1945
J
650,000
ORGANIZATION.—Suoceeded Nov. 1 1895 the Central RR & Banking
foreclosed.
V. 60, p. 1008; V. 61, p. 68.
Ocean SS. Co..
V. 85.
1959
MAN Nov
58
l.uuu.uou
53
Total oper. Dec.
is operated Independently.
Apr
5 g
l.OUO
Oo. of Georgia,
but the road
6 g
6 g
1,000
21
V. 102, p. 344.
In June 1909 the $5,000,000 stock was
NYJPMorganACo.ALon
1&90
91
Wadley
30 Pine Street New York
4
1 1927
100
mmm
Ocean SS. Co., est.
53
Mlllen to Augusta
1921
unpaid
coups
18.498.000
1,000,000
1.000
'
Chattahoochee A Gulf RR.—
Columbia to Lockhart
owns
1 1948
O Apr
A
1917
Reading Terminal, Phlla
Company's Office, Phlla
Reading Terminal, Phila
1921
.■■mm*
Trackage
Also
June
A
J
N Y
do
.TAJ July '21-Tan *26 Commercial Tr Oo. Phlla
do
do
F *A
A Feb 1 1926 to'36
Fort Valley to Perry
Fort Valley to
6 g
*
S2.000.000 lnt rental sf red at 102 Itfx
142
18*''
'
mm
Chattahoochee A Gulf stook guar
Macon to Eufaula
1,000
1,000
1,000
1,000
1895
Baz
1,000
1,000
1,000
1,000
1.000
1895
-
guaranteea_Ce.no*
Augusta & Savannah stock guar (no bonded debt) _
Southwestern Railroad stock guar (no bonded debt)
oos.) Miles
•
1895
mm-
6
7.000.000
500
1896
65
Equip trust series T
*50 coo semi-annually _____
do
Series M $59,000 semi-annually
CP
Lines leased (see these
1901
21
coll tr bonds g red at 110— Ce.o*
Southwestern RR.—»
1,000
1.000
1,000
1.000
1895
Ooean SS Co first mortgage gold
First M gold
do
J July 1 1928
MAN See text
J
Co.
Checks mailed
semi-ann Dec 31 1920 2K New York
semi-ann Dec 31 1920 3%
Co's of 32 Liberty St N Y
J
&
D June 1 1929
1945
F
A
A Nov
Guaranty Trust Co N Y
5
5,000,000
15,000.000
8,000,000
See text
1919
-
1,493
Cez
non-cumulative I
Payable
ern
Upper Cababa 1stM gdue$15,000 s-r call 102K-Nx
Greenv A New 1st M g due $15,000 s-a call 102KNx
1st pref lnoomes) Interest up to 5% f
Mpz
f
Central Un Tr
J July 1 1953
D June 11957
1962
D Jan 1
543.000
mmm
Ten-year Secured bonds call after June 1 1924__xxx
1st M S7.000.000 gold
—G.xo*&r
Refunding A General Mortgage
Consolidated mortgageS 18,500,000 gold._Ba.xo* Ar
Mobile Dlv 1st M (Columbus to Andalusia* g._G.xc*
Macon A North Dlv 1st M $840,000 gold__MBa.xc*
Ocon Dlv 1st M Brewton to Dover S6.000pm_G.xc*
Eatonton Branch first mtge not guaranteed gold.x
Mid Ga A Atl Dlv 1st (oonsol) M S9.000 p m._G.xo*
Chattanooga Dlv puroh money M S2,400,00OgG.xo*
Chattanooga Rome A So 1st M $500,000 gUn.xo*
do
do
Where Interest and
Places
Dividends are
1 1926
5 g
5 g
$1,500,000
1,700,000
mm
do
Dividend
Maturity
1
.
5 g
100 Ac
1,288.600
35
1912
Carolina & Yadkin Riv—1st M g red 105 s f.Eq.xc*
—See NYC A Hud R Iver R R.
Carthage & Adir and Carthage Water & Sack Har
4 8
135,000
32
1898
1,000
Catasauqua & Fogelsville—First M gold.__PeP.xo*
5
50
3,200,000
Catawissa—JPref stock 5% guar P A R Ry (see text)
4 g
2,215,000
1898
1,000
First oonsol mortgage S2.215.000 gold
PeP.xo*
30
589,110 See text
34
Cayuga & Susquehanna—Stock 9% rental DL 4 W.
ok Isla nd A Pac ific Ry
Cedar Rapids Iowa Falls & Northwestern—See Chloa go Ro
6 g
15.000.000
1917
1,000
2d
and
-
Coll Tr Co convert notes
Ry pref
Ce,c*Ar*
Northwestern—1st M S2.500.000gold._Gx
Holston Corp Realty &
call at par convert into
Carolina &
Last
Amount
Par
Mites
COMPANIES
RAILROAD
[For abbreviations,
Carolina
39
RAILWAY STOCKS AND BONDS
MAY, 1921.]
Federal
/
control
101, p. 2146.
The $8,500,000 outstanding Nevada A California 6% bonds ($15,000,000
were assumed on purchase Feb. 29 1912; also $3,000,000 Cen¬
tral California Ry., $1,000,000 Chlco A Northern RR., $2,500,000 Sacra¬
mento Sou. RR. and $5,000,000 Oregon Eastern Ry. V. 94, p. 982, 1118.
All of the five foregoing Issues are owned by So. Pac. Co.
auth. Issue)
about 12.000.000 acres, of which
acres unsold Dec. 311919.
Sales in 1919. 221,520 acres,
price per acre, $4.09. Land contracts Dec. 31 1919, $1,827,960.
LAND GRANT.—Total land grant was
about 6.724,821
average
year
1919: Standard return, $13,265,113;
deductions, $1,765,882; net income, $11,842,712;
Pac. Co. under lease. $11.852,712; deficit charged
Southern Pacific Co., $10,000.—(V. 112, p. 932.)
REPORT.—For
calendar
other income, $343,482;
amount payable by So.
to
CENTRAL RR. OF NEW JERSEY.—(See Map
from Jersey City, opposite New York City,
ates
Reading System.)—Oper¬
westerly to Wllkee-Barre
neighboring anthracite coal fields* also southerly
of New Jersey and to the Delaware River.
and Scranton, Pa., and the
to the seashore resorts
Owned in Fee
(V. 106,p.1787) Miles.
Jersey City to Philllpsburg
Sundry branches
Controlled by Stock Owned—
72
308
& Western RR
4
by
Agreement,
&c.
(mostly under 999-yr. leases):
Allentown Term. RR. (op. jointly) 3
New York A Long Branch RR.,
Perth Amboy to Bay Head
39
Dover A Rockaway RR
5
Ogden Mine RR *•
10
There are 262 miles of 2d. 46 miles
Easton
Controlled
Miles.
Nesquehonlng Valley *__
17
Lehigh & Susquehanna, Philllpsburg to Union Jot., Ao
164
Wilkes-Barre A Scranton *——
4
Trackage—
14
....12
34
Other lines
Delaware
Other
&
Hudson
trackage
Total operated Dec.
•
See this company.
1919
of 3d and 34 miles of 4th
tracks.
686
RAILROAD
Date
Par
Amount
Rate
When
Road
Bonds
Value
Outstanding
%
Payable
Ceot Indiana—1st M *4,000,000 gu pAl ena.Ce.xc* Ar
Cent New England—Dutch Co RH 1st M g guar Ba.xo"
M*25,000,000g gu redl05beg'21-Fxo* Ar'
C N B 1st
1911
1899
1899
1904
1,349
1,349
103
A
500 fr
•
All
1887
All
1887
$500
1906
7
Marie
Ste
l9L<J
1.000
40.6
190O
31
1913
100 AC
1.000
341
341
1896
1.000 Ac
1.000 Ac
1.000
1.000
1,000
.1.000
1914
1914
1897
but in April
Return has been fixed at $9,405,979.—V. 109, p. 1268.
DIVS.—'91.
'92 to '94. '95. '96. '97. *98. *99. '00. *01. 1902to May'21
Regular.. 6
7 y'riy 5^4
5
4)4
4
4
5
5
8
yearly
(Q-F)
Special
.....Dec. 1899 to June 1920. 4 yearly (J A D)
Special seml-ann. divs. of 2% each (making total annual 12%) were paid
out of Leh. & W. B. Coal Co. divs. of $1,097,472 per annum received
June 1909 to June 1920, incl.
The Dec. 1920 payment was deferred until
Feb, 25 1921, owing to the fact that the railroad company was enjoined from
receiving its part of the coal company dividend by decree of the Federal
Court i" the so-called Reading Trust suit.
V. Ill, p. 2519; V. 112, p. 743.
ard
cash dividend of 150% on March 5 1921.
BONDS.—For General
Mortgage abstract, see V. 45, p. 402.
Issued) Leh. A Wilkes Barre consol. serial
4s, guar. p. A
mature $2,500,000 every 5 years beginning June 1 1915.
During 1918 the remainder of the property of the American Dock A
Improvement Co. was deeded to the Central, and the underlying bonds.
$4,987,000 set up as a part of its funded debt.—V. 109, p. 1268.
Bonds to
be extended to July 1 1936.
V. 112, p. 2082.
The New Jersey P' U. Commission in June 1920 approved the company's
application to issue $5,775,000 6% notes to pay for equipment to be pur¬
chased from the U. S. Railroad Administration.
The notes will be turned
The $20,000,000 ($14,496,000
V. 110,
p.
2487.
Jan. 1—Dec. 31
1919.
-—Jan. 1—'Mar. 31
Gross
1920.
1921.
1920.
$12,271,401 $10,716,765 $51,989,303 $44,837,302
.
Net after taxes
I,219t782defl,442,834def6,291,279
REPORT.—Fiscal year ends Dec. 31.
Earnings from-r
Merchandise
Bituminous coal—*
Anthracite coal
Fot 1919, V. Ill,
1919.
1918.
Passengers
Mail, express, Ac..
u-
10,389,975
8,195,100
3,933,089
p.
$37,096,739*
.-$44,837,302 $44,790,671
Total
Net earnings
$4,563,351
$8,421,400 $10,683,887
Rent accr. und. stand, return (90%).c$10,287,531 c$8,427,071
Net income (after taxes)
——a$l 1,220,552a$10,523,138b$12,655,721
Interest,
3,196,306
295,146
2,633 475
a3 292 416
Ac..
Miscellaneous
Rentals paid
Dividends (12%)
A
Jan 1
12
4,037,833
253,590
° 608 149
a3 292 416
2,532,463
141,822
3 205 362
3 292 416
a
Other income in 1919 and 1918 includes the usual $1,103 622 received
rom
the divs
b Dividend
on
the $8,489,400 stock owned in the L. AW. B. Coal Co.
1917 included four semi-annual divs. of $2,207,1915, to June 1917.
of the Standard Return is accounted as accrued for 1918,
income in
244 from L. A W. B. Coal Co., viz.: Dec.
c
Only 90%
Sending the execution 1919 figures.
eing included in the of the compensation agreement; the balance of 10%
OFFICERS.—Geo. F. Baker, Chairman; W. G. Besler, Pres. A Gen.
Mgr.; R. W. de Forast, V.-Pras. A Gen. Counsel; T. B. Koons. V.-Pres.
Mgr.; F. T. Dickerson, Sec. & Treas.
V. 112, p. 61, 743,
1023,1865,2082.
A Frt. Traffic
CENTRAL RR. OF SOUTH CAROLINA.—Owns from Lanes. S. C., to
Sumter, S. O., 40.2 miles; spurs, Ao., 1.61 m.; total, 41.81
•\tlantio Coast Line RR.; rental. *31,000 yearly and taxes.
000; par, $50.
Annual rental, $31,000.—(V. 112,
p.
m.
Leased to
Stock, *170,-
2082.)
CENTRAL RY. OF CANADA—See isme of Nov. 2 1918.
CENTRAL RY. OF SOUTH CAROLINA.—(V. 82.
CENTRAL VERMONT RY.—Operates from Rouses
p.
927.)
Point, at north end
of Lake Champlaln, to New London, Conn., with branches, 533 miles in all.
of which 161 miles leased, viz.: New London A Northern (see that oo.), 122
miles; Montville Branch, 3; West River RR., 36 m. V. 68, p. 1076. In May
1914 received authority to lease for 999 yrs. Southern New England Ry.
partly built. Palmer, Mass., to Providence; and in May 1916 asked right
to purchase it; a contractor in Nov. 1918 obtained $2,000,000 attachment
on
said line but suit was discontinued in
V.
107, p. 2008; V.
112, p. 62.
102,
p.
1718.
Mar.
1920.
V.
Steamboats, V. 103,
110, p.
1416.;
406.
Valua¬
p.
tion, V.
Federal
tract
Compensation.—$835,402 yearly
during Federal
control
(con¬
executed).
SECURITIES, AO.—The Grand Trunk Ry. holds *2,164.500 of the *3.Form of Interest guaranty, V. 85, p. 283.
For Centra
000.000 stock.
1942
Co
May 2 1921 2% Office 143 Liberty St.N^
New York Trust Co, N Y
Check from Treas. Office
J July
1 1987
July 1 1987
MAN May 1 1922-'26
MAN To May
A
Q—J
J
New York Trust Co, N Y
1 1930 Office 143 Liberty St, N Y
A
J July
6 g
6 x
do
do
1 1921
MAS Sept 1 1941
J
A
J July 1 1921
J
A
J Jan
1 1926
do
do
D Junel 1925-'50
A
J
Is
45s
100 held
$2,185
4 g
A
do
do
/
Bankers
Trust
Co,
N
T"
Colonial Trust Co, Plttab
Trun k Ry ©f Canada
New York Trust Co, N Y
J
A
Blair
West
Y
Equitable Trust Co. N *
Union Trust. N Y
New York or Baltimore
J Jan
1 1937
O Oct
1 1946
Cent
J Jan
1 1964
1 1964
1 1947
Cent
A
A
J Jan
A
65 "
End
Guaranty Trust Co. N
J July 1 1953
A
*#
New York
BostOD
Tr Co. Phlla
Co,
Amer L A Tr Co.
1 1933
A
5 g
2 to 5
A
1 1950
Jan
J
A
iS
4 g
'22
O Oct
A
5«
600.000
Grand
by
MAN May 1 1930
F
A
A Aug 21-Feb
5
5
O Apr
do
do
Union
Trust.
N Y
5% bonds, see V. 88, p. 1252; guar, bonds
V. 94 p. 910
1249 1626*1695: V, 95 p. 749
of Public Utilities in April 1920 approved the
Vermont Transportation guar.
covering 2 steamships
Mass.
j
Department
petition of company allowing it to transfer by mortgage and deed of trust
property including the leasehold of the New London A Northern RR. to
its
to secure an issue of bonds
the New York Trust Co.
amounting to $15,-
000,000, dated May 1 1920 and due May 1 1930 proceeds to be used to
and refund $12,000,000 1st mtge. 4s due May.l 1920, Ac.
V.
110, p. 2657.
LATEST EARNINGS.—Jan. 1 to Mar. 31—
1921.
1920.
retire
Gross
Net after taxes
.—$1,473,881 $1,446,445
...—def.387.375def.467.060
—
—i
——-
REPORT —For cal. year 1919
Year—
1920
in V. 110 p. 2482 showed:
Net.
Total Income. Charges.
Gross.
Bal. Sur
—$7,726,522 a$l,701,163 b$724,950 $1,149,992 a$425,042
927,223
a80.304
b Includes 2 mos.
1919
6.288,307
aS71,206
*846,919
*
Federal compensation plus other income,
a Deficit,
Federal compensation.
.
OFFICERS.—Chairman, Howard G. Kelley; Pres., E. C.
John B. Wood, St. Albans,
Vt.—(V. 112,
p.
Smith; Treas.,
1616.)
WEST VIRGINIA & SOUTHERN RR.—Hendricks. W.
Va., to Armentrout, 29.5 miles; leases from Armentrout to Horton 1.5
miles; total, 31 miles.
Stock, $500,000; par, $100.
Bonds ($1,000,000
authorized), of which $500,000 reserved for new construction.
Call¬
able on any interest day after January 1923 at 105.
Sinking fund re¬
tires 5% of bonds outstanding semi-annually.
Pres., Robert F.
Whittner; V.-P., Charles Steele; Treas., J. T. Richards; Sec., M. M. Daly,
Philadelphia, Pa.
Office, Hendricks, W. Va.
CENTRAL
WISCONSIN
CENTRAL
RY.—(V.
112, p. 1023.)
CHARLESTON (S. C.) TERMINAL CO.—ROAD—Owns terminal road;
5.02 ra.;
14 wharves, 30 warehouses. 4 ootton oomDresses, Ao.
V. 77.
p.
148, 298.
Stock authorized, $5,000,000 (V. 105, p. 2455); issued,
1200,000, owned jointly by Atlantic Coast Line RR. and Southern Ry.,
good any deficiency in interest on bonds.
For year
which agree to make
Snding Dec. 31 1917, gross, deficit, $10,198.—(V. 108,$7,234; other income,
14,568; interest, $32,000; $191,983; net after taxes,
p. 578.)
CHARLESTON
UNION
STATION
CO.—Owns passenger
station
at
Charleston. S. C., used by Atlantic Coast Line and Southern Ry., each cf
which owns
the stock and guarantees the bonds, p. A L, by endorsement.
Rental
also
covers
uses
Seaboard Air Line Ry.,
station under agreement.—(V. 84, p. 50..
interest on bonds and 4% on stock.
passenger
CHARLESTON & WESTERN CAROLINA RY.—Port Royal. S. C., via
Augusta, Ga„ to Spartanburg, S. O., 246 m.; branches to Anderson and
Greenville, S. C., 95 m.; total, 341 m.
Track rights, 2 m.
Entire stock
owned by Atl. Coast Line Co. V. 66, p. 38, 335.
Federal
Compensation.—$495,685
yearly
during
Federal
control.
See Augusta Term. Ry. V. 66. p. 383.
BONDS.—Of the 1st consol. 50-yr. bonds of 1914 ($10,000,000 author¬
ized issue), $2,380,000. Issued to
retire the income bonds, have Interest
payable at 2% yearly for the first 2 years, 3% for the next 3, 4% for the
/next 5 and thereafter 5%.
Of the remaining bonds (to bear Interest no
higher than the So. Carolina rate), $2,720,000 are Issuable from time to
time to retire the old 1st 5s, $600,000 to take up the Augusta Terminal 6s
and $4,300,000 exten., bettenn'ts or eaulp. V. 98. p. 1315. V. 100. p. 1347.
STOCK.—$1,200,000; par, $100.
V.
"
100. p. 1347.
Equipment trusts issued to Director-General
See article on page 3.
for rolling stock allocated
to tuis company.
REPORT.—Year ending Dec. 31 1919:
Calendar
Gross
Net after
Other
Interest,
Years.
Earnings.
Taxes.
Income.
Rents. &c.
$463,459
Common
Balance,
Dividends.
Surplus.
(6)$72,000def.$57,539
(6) 72,000
158,150
(5) 60,000
433,537
$466,921
$414,941
$62,979
466,921
429,421
52,472
251,743
2,401,443
763,317
65.828
335,608
♦Federal compensation.
Pres., F. B. Grier, Greenwood; V.-P., J. R. Kenly; V.-P., Lyman Delano;
V.-P. & Gen. Mgr., A. W. Anderson; Sec., R. D. Cronly, Wilmington;
Treas., John T. Reid.—(V. 110, p. 969, 1289.)
1919
1918
*
1917-.—
$311 151 b$3 483 657
$1 803 209
Surplus
Owned by South Pao
do
do
1 1941
6
4
do
do
1936 A 1939
Q—F
1
II
{
See text
The
1,799,271
1364.
1917.
$18,927,308 $15,528,456
3,155,500
2,378,731
11,305,047
9,195,132
7,485,147
6,663,309
3,917,669
3,331,111
..$19,063,438
3,255.700
...............
Nov
J
do
do
,
unlss ued De c31 1919
with the Director-Gen.
1921, had not
yet been executed by the Director-General because of questions relating to
some of the new equipment allotted to the company by him.
The Stand¬
to the Government at par.
A
8
800,000
250.000
2.720.000
2,380,000
2093.
Rebate decision in V. 109, p. 1891.
Federal Compensation Contract.—The contract
EARNINGS.-—
&
M
200.000
600,000
714, 716; V*
Concerning coal properties, see Lehigh A Wllkiis-Barre Coa'
A Navigation In "Miscellaneous." In 1901 Reading Co
acquired control, owning $14,500,000 stock.
The latter company wll
dispose of lis holdings under the di solution plan dated Feb. 14 1921.
V
112, p. 743; V. 72, p. 86, 136, 241, 391, 721.
In Sept. 1913 the Govt,
brought suit alleging violation of both the Sherman law and the commodities
clau e of the Inter-State Commerce Law.
In Oct. 1915 final decree of
IT. S. Dist. Court dismissing said suit, ordered that this company must
dispose of Its interest in the Lehigh A Wilkes-Barre Coal. Co.withm 90
days.
Both parties appealed to the U. S. Supreme Court.
On April 26
1920 the U. S. Supreme Court sustained most of the Government's charges.
The plan for t he disposal by the company of all the stock of the Lehigh A
Wilkes-Barre Coal Co. owned or controlled by it (as embodied in the disso¬
lution decree of the Reading Co. dated Feb. 14 1921), provided that the
stock bo disposed of within six months after entry of the decree or previous
to any other later date which may be fixed by the Court.
See V. 112, p. 743,
V. 101, p. 1464, 1807; V. 110, p. 1816.
Full Crew Law, V. 105, p. 1897.
over
A
Y
London, Paris, Belg, Ac
165 Broadway, N Y
Mch 1 1946
6
N Y
N
Bk.
165 Broadway.New York
do
"
do
1 1954
1 1946
Moh
A
5 & 6
3T,000,000
13,359,000
98,000
100
1903
Oct
A
M
4
Nat
Ry
1920
1907
A
A
A
M
5,564,000
4,987 ,(K 0
2,500,000
300.0OU
150,000
1881
2 J
4g
1 1961
4 H
1,000
1,000
1,000
40
«
33?
2,700,000
HISTORY.—Reorg. in 1887 without foreclosure; V. 44, p.
a
Aug 1 1949
Aug 1 1929
I
105. p. 1707.
paid
A
1.000 NoneApr'21
Co. and Lehigh Coal
The coal company
F
1,0001 b43.924,000
500 Ac
1891
341
1918,
Lincoln
1910
1881
SBa.xc*
by the company in
Fid T
Jan
1,000
38
1st M gold guar p A I end.xO
b Additional $1,167,000 in treasury and $4,909,000
executed
June 1 1940
A
1916
Augusta Terminal Ry
was
A
J
1920
Equipment notes issued to Government (see text)
LAW BOonM *20,000.000serial g guar.PeP.xxo*
Co 1st M guar redeem at llOx.xxcT
NY&LBr Gen M g lnt gu Jtly (* 192,000 5s) .Cexxc*
Central RR of South Carolina—First mtge gold... xr
Cent Ry of So Car—First M *150,000 g gu red ...CPi
Central Terminal RR—See Minneapolis St Paul A Saul
Central Vermont—Stock *3,000,000... — .....
Ref mtge guar p & i by Grand Trunk Ry of Can„.N
Eq tr notes due *49.000 each F A A (V 94. p 350)X
Montreal A Province Line Ry 1st M guar p A I
e
Central W Va & South RR—1st M g s f red text—c*
Charleston & Savannah—See Atlantic Coast Line RR
Charleston Terminal—FirstM *1,000.000 g — G.xc*Ar
Charleston Un Sta—1st M*400.000 g gu (text) Eqxc* Ar
Charleston & West Car—IstM g(*8,000 p m)Ce.xc*Ar
Her A......——
May 1 1953
g J
27,436.800
100
.
Tr Co,
Co, Phlla
A
(6)
4 g
5,000,000
text
Am Dock A Imp
M
do
500
1.000
Central Un
4 g
287.000
13.427.000
98,787,000
7,270.000
9,640.000
23,535.618
24.726,905
103,000
8,500,000
A
M
Where Interest and
Dividends are Payable
and Maturity
$1,500,000
1912
Equip trust Series G $2,100,000 (all in treasury)—
do
Series II due $270,000 yearly
do
500
1911
479
86
Central RR of N J—Stock (*30,000,000 authorized)
Central RR of N J Gen M *50.000,000 gold -Ce.xxrc
do
do"
registered
xx
lat consol
1,000 Ac
1911
50-year mortgage bonds ($78,000 5s due 1939)
Nevada A Cal, Ac, 1st M assumed
Oregon Eastern first mtge assumed
Other bonds—see
1890
12
Central Ohio—See Baltimore A Ohio
Central Pacific—1st Ref M g gu p A 1 end.Ce.xc'&r
3Hs *25,000.000 gold guar p A 1 end
Us.xo'Ar
Lucin cut-off 1st M *10,000.000 gu (text).G.xo*Ar*
Bonds 250.000,000 franos guaranteed red par—U»x
do
do
US gold
$1,000
1,000
1903
117
141
Places
Dividend
Last
Miles
COMPANIES
[For abbreviations, &c., see notes on page 6]
eral
[VOL. 112.
RAILWAY STOCKS AND BONDS
30
CHATEAUGAY & LAKE PLACID RY—Operates from Plattsburg*
Placid, 79 miles, of which Bluff Point to Dannemora, 16 m.,
of New York.
Stock. $3,450J)00, of which $3,000,000 is 4% non-cum. pref., the latter
all owned by D. A H. (V. 84, p. 60) and $450,000 common stock, of which
the D. A H. owns $75,000.
Leased to the Del. A Hudson until Dec. 31
N * Y., to Lake
Is leased at nominal rental from State
2403, any balanoe over expenses of operation, Interest, taxes, maintenance,
damages, dividend on pref. steok, Ao., to go to the lessor.
The lease is
subject to revision on 6 months' notice by either party.—(V. 84, p. 50. 930.)
CHATTAHOOCHEE A GULF RR.—Columbia. Ala., to Florala, 92 m.
LEASE.—Leased In 1900 In perpetuity to Cent, of Georgia Ry. for 6% on
*436.400 stock and $407,000 bonds (of which only $170,000 outstanding ,
of which 1 % to be used as a sinking fund for retirement of bonds, upon com¬
pletion of which rental will be 5% on stock, payable J.-J.
See Cent, of
Gaorgia Ry.—(V. 99, p. 1748; V. 105, p. 2542; V. Ill, p. 2519.)
CHATTAHOOCHEE
VALLEY RY.—Standing Rock, Alabama to
Stock auth., $1,000,000; issued, $110,000;
Bleecker, Alabama, 44.5 miles.
$100.
Bonds, see table above.
Year 1919, gross, $229,812; net, after
taxes, $42,533; charges, $49,860; war taxes, $1,573; bal., def., $8,J00.
Year 1918, gross, $207,113; net, after taxes, $69,289; charges, $37,677:
war taxes, $1,981; bal., sur., $29,630—(V. Ill, p. 2227.)
par,
CHATTANOOGA STATION CO.—Owns union passenger station opened
Dec 1 1909 and approaches at Chattanooga. Tenn., used by the Southern
Ry.. Central of Georgia. Alabama Great Southern and Cln. N. O. A Texas
Pacific, which eaoh owns one-fourth of the stook and guarantees the bonds
jointly and severally, p. A1., by endorsement.
Rental oovers bond Interest,
and 4% on stock.—(V. 84, p. 50.)
MAY, 1921.]
RAILWAY
RAILROAD
COMPANIES
[For abbreviations, Ac.,
31
Miles
Date
Par
Amount
Rate
When
Last
Road
notes on page 6]
see
STOCKS AND BONDS
Bonds
Value
Outstanding
%
Payable
and
1900
*1,000
1.000 Ac
Charlotte Columbia A Augusta—See Southern Ry
Chartiers—See Plttsb Cincinnati Chloago & St Louis
Chattahooche Valley—Consol Mtge
ABx
44.5
10
1882
500 Ac
697
1889
1,000
242
1890
26
1890
1,000
1,000
25
1891
1892
1,000
6
*470.000
4 g
1.000.000
text
62,792.600 See
6 g
142,000
5 g
29,858,000
4 g
7,000.000
5 g
650,000
400.000
5 *
1.433
1,000
48,616,000
22
1905
190.5
1900
1904
1906
1907
1906
1909
1,000
1,000
1.000
1,000
539,000
104
Chattanooga Station—1st Mg gu(text)
Eq.xo&r
Chesapeake & Ohio—Com stock (*165.000.000 auth>
Terminal 1st M 1922 covering 8 m to Phoebus g.zo*
First Consol mtge tor 130,000,000 gold_.Cejro*&r
Rich A All Dlv 1st & 2d Ms (*1,000,000 2ds)Ce.xo*
Craig Valley Branch first mortgage gold
Ce.xo*
Warm Springs Branch first mortgage gold. .Ce.xc*
General mortgage (for *70.000,000 Ac) goldCe.xo'&r
Paint Creek Branch 1st M *750,000 gold__._Ce.xc*
Coal River IstM g ass d.
Ce.xc*
Greenbrier Ry 1st M *3.000,000 g assumed.-Eq.xo*
Big Sandy Ry first mtge *5,000,000 gold—Ce.xc*
Potts Cr Br 1st M *1,000.000 auth(V 83,p 693)Ce.xo*
Virginia Air Line 1st M *900.000 g assumed
xc*
Raleigh ASouthw 1st M *1.500.000 g assumedCexc*
Gen FdAImpM $11,000.000red 107H-Usm.xc'&r*
Convert g bonds *37.200.000 red text Usm.xo*&r*
Convert g bonds $40,180,000 g
c*<Str*
Chea & Ohio Norlst M (closed) red 105 gu p & 1 _r*
First Lien A Impt mtge *125,000.000 authorized, .x
Kanawha Bridge A Ter 1st Mg red 105 beg'16FP xc*
Oar and equipment trusts (see text)
!
1907
100
-
101
86
20
30
35 H
1.661
J
A
J Jan
J
A
M
A
4H g M
A
J July 1 1940
S Moh 1 1941
S Mch 1 1992
A
J
Where Interest and
Dividends are Payable
Amer Trust Co, Boston
J. P. Morgan A Co. NY
Office, 61 Broadway, NY
J
P
Morgan
J
A
M
A
N Nov
J
A
A
5 g
4 g
M
A
J July 1
N May
J
A
5 g
J
A
31,390,000
40.180.000
1.000.000
4H g F
1911
A
A
A
5 g
A
&
1888
1888
1.000
1.000
i
A
-
464,000
820.000
O
April
do
1952
do
do
do
do
do
do
do
do
do
do
1945
_
Dec
'
1,000
P Morgan & Co. N Y
Office, 61 Broadway. N Y
1946
1946
O Apr
O Oct
Plodced
1908
2Q
do
do
1930
A Feb
A
A
do
do
1929
J July
J Jan
5 g
5 ft
do
do
1936
~
Y
Broadway. N Y
do
1 1940
N
do
do
Office 61
D June 11944
J
Co,
do
1 1945
D June 1 1945
4 g
4 g
4 g
A
do
A Feb
A
p3.698.000
1,000 Ac
Places
1 1989
F
600,000
900,000
826,000
500 Ac
1915
M
&J15 July 1 1940
J Jan
1 1957
Dec 30 *20 2%
A" D June 11922
A
N May 1 1939
J
J
4 g
4 g
2,627.000
1,678.000
4,322,000
1,000
1,000
1.000
1,000 Ao
1.000 Ac
1910
1916
30.4
Dividend
Maturity
Office. 61
1 1930
1 1948
do
B'way. N Y
Fidelity Trust Co. Phlla
Guaranteed bonds—
Blev Co lstMg(CAO owns $317.000)gu p&LCe.zc*
2d M Inc n-c (CAO owns *406.000) not guar.zc*
Obes A Ohio Nor Ry—See statement below
Louis A Jell Bdg 1st M *5.000.000 gu p A 1 end._o*
do
Rlohmond-Washlmrton
Co
500.000
750.000
1903
Impt.
na«
C
Branches In Va. and W. Va
103
Controlled by stock—
Miles.
Bridge—Covlngton-Clnolnnatl
2
Ches. & Ohio Ry. of Indiana
261
_
Ches. & Ohio Nor.
732
Seaton, Ky.. to Lexington
Big Sandy Jot. to Elkhorn City,
128
branch
31
Lines leased—
A
Feb
1 1948
Be
A
Aug
1 1945
A
A
A
A Aug
O Oct
1 1945
1 1946
J
A
D June 11943
4 *
Raleigh A Southwestern 4s, V. 84, p. 1114' V. 89. D. 720
V.
109,
Bridge A Terminal 5s, V. 91, p
S
85
"N," "O,"
'P" and "R" at Commercial Trust Co., Philadelphia, and at 61 Broadway,
N. Y.; "S" agency Philadelphia Trust Co., New York.
Equipment trusts Issued to Director-General for rolling stock allocated,
to this company.
See article on page 3
Govt, loan, V. Ill, p. 791.
Federal Compensation. $13,888,418 (contract executed).
Government loan, V. Ill, p. 791, 2422; V. 112, p. 161, 651.
LATEST
Jan. 1 -—Mar. 31
Jan. I—-Dec. 31
trackage
55
_
.
statement
Dec.
to
31
1917,
see
V.
V.
88. p.
106.
p.
otherwise all
the property of (a) Elkhorn A Beaver V alley Rv
119); and (b) Chesapeake & Ohio Northern Ry. Co.
In
April 1921 the stockholders approved the consolidation of the Ches. & Ohio
Ry. of Ind. and the Ches & Ohio Northern RR. with the C. & O. Ry.
EARNINGS—
'10
"11. 1912.1913.1914. 1915.
4f(
5
5
4K
3
None
Dec. 1916 to Dec. 1920, incl., 4% p. a. (2% J. & D.).
was
deferred.
V. 112, p. 2189.
l9in.
2
•
4 yearly
«TOOK.—Author, stock
was increased in 1916 to $155,000,000, of
which
reserved for conversion of 4>$s of 1910 and $50,240,000 for
conversion of 5s of 1916.
V. 102, p. 1162, 1625.
1st A 2nd pref., $3,200
was
be Issued for
double-tracking.
See full abstract of mortgage in V. 54,
p
In July 1915 *31,131,000 was reserved to retire underlying bonds.
General Funding and Imp. mort., V. 87. p. 1663: V.88.p. 157.
The "First Lien and Improvement" mortgage of 1911 is limited to *125.000.000 bonds, bearing Interest at rates not to exceed 5%.
It provides for
extensions and impts. and the retirement of certain equipment and other
obligations,
including the "General
Funding aud
Improvement" bonds,
and for other corporate purposes.
Of entire *55,801,000 outstanding under
this mortgage in Sept.
1920 *45,920.000 had been pledged to secure the
no part held by public.
further $3,759,000 were pledged as part security for Govern¬
a
ment loan.
V. 112, p. 161.
I
Collateral Dec. 31
1920 for First Lien1 and Impt
Mortgage Bonds.
C. & O. Ry. Co. of lnd.—Stock, *5,998,800; bonds, $7,711.000.$ 13,709,809
Ches. & Ohio Northern Ry.stock
4.026,600
Ches. & Ohio Ry. Co. General Funding & Impt. bonds
7,302,000
Hocking Valley Ry. Co. stock (outof *11,000,000 outstanding).
8,825.000
Miscellaneous
993,508
The First Lien <* improvement Mortgage bonds will thus be (1) a first lien
either directly or through deposit of all stocks and bonds, upon 320.57 mile*
of railroad, viz.; (a)
Directly on 29.34 miles of coaj branch lines in West
Virginia; (b) through deposit of all securities on 9.79 miles of Logan A
Southern Ry. in W. Va., on 20.74 miles of Elkhorn & Beaver
Valley Ry
in Kentucky, and on 260.7 miles of mailt line between Cincinnati and Chi
cago.
(2) a first lien on all stock
of C. A O.
Northern
Hallway,
and 80.23%
of stock of the Hocking Valley Railway Company.
(3) A
lien on all the remaining lines of railway owned or controlled
by the com
pany. aggregating about 1,800 miles, subject to *101.872,000 prior Hens.
The 4H% convertible bonds, due Feb. 1 1930, have a parity of lien with
the First Lien & Impt. bonds on such lines as were owned on April 28 1910
but
not on the above-mentioned
collateral.
Of the authorized *37.200.000 convertible
were
issued
in
that
year.
They
are
gold bonds of 1910, *31.390.00<1
redeemable after 1915 at 102)4
Into stock till Feb. 11921
and convertible at par, at the option of the holder,
V
90. n. 771. 848; V. 91. p. 870. 945- 1159, 1574.
The Convertible 30-year 5% gold bonds of 1916 for *40.180,000 (V. 102, p
1162) are convertible at option of holder at face value Into common stock
(a) at *75 per share up to and including April 1 1920, (b) thereafter at *80
per share up to and including April 1 1923. (c) then at *90 per share up to
and Incl. April 1 1926, and (a) at *100 per share up to and incl. April 1936.
with adjustment of dividends and interest.
The entire issue, but not a
s. a
ann
1919.
9,645,906
8,627,893
1920.
1919.
1918.
1917.
$72,774,680 $53,073,002 $55,720,373 $42,998,223
4,776,039
14,158,153
13,629,892
7,899,452
5,973,466
4.243,961
4,370,532
3,746,119
Operating Revenues—
traffic.....
571,475,016 $73,720,797 $54,643,794
510,596,494 $19,503,450 $16,537,988
Total oper. revenues. .$90,524,184
Net
$10,665,087
earnings
$8,105,846 $17,222,985 $14,095,160
$18,770,923 $16,792,321
$7,664,736
Operating income
$15,031,324
$9,217,182
$9,957,664
$8,779,143
$8,730,769
$8,589,795
1,138,318
21,100
101,3,35
2,511,264
1,092,893
20,866
2,511,264
1,122,375
23,859
64,719
2,511,264
1,008,199
32,078
95,871
2,511,264
$1,301,643df$3,259,393
Gross income
$6,317,936
$4,555,114
Deductions—
Interest
on
debt.
...
leased
roads,
joint tracks, Ac
Loss on C. & O. gr'n elev.
Rentals
Miscellaneous
Dividends
Net
(4%)
—.
income....
72,408
FEDERAL INCOME ACCOUNT FOR CALENDAR YEAR.
1919.
Total operating revenue
Total operating expenses.
Railway tax accruals
Uncollectible railway revenue
$18,193,366 $16,374,012
974,679
941,810
—
878,213
$8,066,281 $17,218,677 $15,495,799
bl4.588,579
13,226,983
13.226.983
Net income
Standard return
a
114,807
aG02,326
$9,008,091
income
Joint facility rents
Incr
1917.
$8,627,893 $17,716,459 $14,890,416
deb.222,128
362,091
1,483,596
Railway operating income
Hire of equipment
Miscellaneous
Gross
1918.
$71,475,016 $73,720,797 $54,643,794
60,676,473
54.081,537
38,105,806
10,798,543
19,639,259
16,537,988
2,165,080
1,920,000
1,644,075
5,570
2,801
3,497
Net operating revenue
$40,180,000 convertible fis of 1916. due 1946 and
In Jan. 1921
2,068,757
992.143
Passenger traffic
Mails, express, Ac
BONDS.—Abstract of oonsol. mtge. of
1939 In V. 49. p. 147; V 86 v
1588: V. 92. p. 260; of Richmond A Alleghany mtges., In V. 51, p. 144
The General mortgage of 1892 (Central Trust Co. and H. T. Wlokbam
trustees) Is for *70,000,000, but additional amounts at *25,000 per mile may
1920.
s. a.
ANNUAL REPORT.—Report for cal. year 1920 in V. 112, p. 2182.
1917-20.
June 1921 div.
125,000
189,000
375,000
$18,764,532 $19,373,122 $90,190,745 $71,475,015
Freight
(V. 99, p.
D1VS.— \ 99- 08. '09
Per
cent.. (1 yearly 3
1920.
1921.
Gross
Net after taxes
V. 90. p. 1675; V. 91, p. 93, 214, 802.
In July 1917
purchased 8.000 acres of coal land through the Western Pocahontas Fuel
Co.
V. 105. p. 180; V. 106, p. 1911.
During the year 1918 the Pond Fork Ry. Co., Gauley A Meadow River
RR.
Co., the Kanawha Bridge & Termina 1 Co., the Logan A South¬
ern Ry. Co. and the Piney River & Paint Creek RR, Co. were merged with
the Chesapeake & Ohio Ry. Co. (V. 83.-p. 436; V. 109, p. 786). The stock¬
holders voted May 3 1918 (V. 106, p. 1343, 1796, 2122) to acquire by pur¬
below.
Dec. '20-Dec. *26
1917 4H% call 102__ 2,457,000
May '21-May '27
Dec. 1 '24-Dec. 1 '35
1920 6H %
4,500,000
Interest paid semi-annually as indicated by maturity days;
Indiana,
64^.
s. a.
62
1,625.000
1916 4
Owns $8,825,800 of *11,000.000 Hocking Valley com. stock, for
court decision In 1917, see V. 105, p. 908, 997.
As to Ches. & Ohio Ry. of
$37 200,000
s. a.
R
HISTORY, AO.—In 1888 reorganized without foreclosure.
or
O. A O. Ry
---
1911.
Co.
assumed b-
84
to Louisville
Norfolk & West
_
chase
1629
785.
p.
Principal Car Trusts Gold (Denom. $1,000 Eacn) (V. loo p. lull).
Outstanding.
* Mature in Installments.
Dec. '20-June 15 '24
N 1914 4H%
$680,000
$85,000
Jan. 15 '21-Jan. 15 *26
O 1916 4M% call 1021.738,000
158,000
P
Total of alL
1,544
Second track (498 owned) 688 miles; third track operated, 3 mile; sidings,
1,164 miles; total all tracks, 4,395 miles.
Also controls Hocking Valley,
350 m., and one-sixth int. in Richmond-Washington Co.
see
do
do
New York Trust Co. N Y
29
79 Trackage to Washington. DO.
financial
A
F
do
J P Morgan & Co. N Y
Office 61 Broadway. N Y
do
do
do
do
*
Sundry branches leased
Other
9-year
F
4H
no
1945
A
B'way. N Y
"
Trackage
Branches In Kentucky
For
s Moh 1
M
9
OfTlce 61
Louis
Kanawha
Ft.Monroe,Va.,toCovlngton.Ky. 663
Richmond via* Lynchburg,
to
Clifton Forge. Va
230
294.
St
kloago A
RY.—[See Map Page 33.)—On Dec. 31 1920
Miles.
1 1988
mtge.
Clnoin
1 1938
Oct
1
r
97.000
51,000
10.000.000
1.000
1.000 Ac
O Oct
A
Oct
5
1.000
1.000
1906
(one-sixth Interest)
operate J.
Lines owned in fee—
with
1.000
1906
Further $7,302,000 pledged under first Hen &
Guaranteed jointly ana severally with Cleveland
CHESAPEAKE Sc OHIO
•4,500,000
1898
p
•
1.000
4
1905
Extension No2xc*
do
t
4
1895
Norfolk Ter A Trans 1st M (V 67. p 322)gu|p Al.xc*
Western Pooahontas Corp 1st M (V 84. p 995) ...x
do
do
do
Extension Nolxc*
do
450.500
in netearns.
over
stand, return df $6,522,298
$3,991,694
$2,268,815
Miscellaneous income for the year 1919 includes $542,903 representing
the difference between the amount credited the account of expenses prior
to Jan.
1 1918 and amount charged against it.
b The amount here shown for 1919 includes addition to standard return
for years 1919 and 1918 and also additional allowances made by the U.
RR. Administration for both years on account of exceptional condition
S.
of
the company.
OFFICERS.—W. J. Harahan, Pres.; C. E. Graham and G. B. Wall,
V.-Pres.; H. T. Wickham, V.-Pres, & Gen. Counsel; F. M. Whitaker, V.-P.
charge of traffic; A. Trewett, Sec. & Treas.—(V. 112, p. 161, 561, 651,
743, 1865, 1976.)
in
CHESAPEAKE Sc OHIO NORTHERN
RY.—See Chesapeake & Ohio.
CHESAPEAKE & OHIO RY. OF INDIANA.—Owns Cincinnati, Ohio
to Indiana-Illinois State Une. 260.7 miles; trackage rights. 23.7 m.; Total
oper.,
284.4 miles.
C. & O. First Lien &
see
First 5s. $7,270,000 outstanding, all pledged under
Impt. mtge.
Consolidation with Ches. & Ohio Ry.,
188; V. 107, p. 1003.)
C. & O. Ry. above.—(V. 106, p.
CHESTERFIELD & LANCASTER RR.—Owns Cheraw
S. O., to
P&geland and Crowburk, 38 m.
First Mtge. bonds ($750,000) issuable at
*5,000 per mile; outstanding, $186,000. Stock, $500,000, a majority being
acquired in June 1909 bv the Seaboard Air Line Ry.; par, $25.
Treas.,
R. L. Nutt, 24 Broad St., N. Y.—(V. 89, p. 40.)
CHESTNUT HILL RR.—Owns from Germantown to Chestnut Hill, Pa.,
Re-leased in 1896 to Phila. & Read. Ry., the rental being reduced
4 miles.
ate up to and
Sart thereof. Is including April 1 1929 at 105%company on any interest
to be redeemable at option of ana interest, and there¬
after at 100% and Int.. upon 60 days* notice; in case of
the conversion period the privilege of conversion shall
redemption during
terminate 30 days
prior to the redemption date.
The bonds are secured by deposit with the
trustee of *45,920,000 First Lien A Impt. Mtge. 5% bonds, above described,
A proportionate amount of the security may be withdrawn as bonds are
convertible into stock.
Louisville A
V.
103, p. 60.
626; see also V. 71.
Big Sandy 4s of 1904. V. 79. p. 917; V. 82,
1418.
p.
p.
554. 602; V. 79. p 916
297; V. 87. p. 225. 414.
Guaranty, V. 81. p. 668.
Coal River 4s. V. 80. p. 2219: V 83. p. 693: V 89. p
Paint Creek Br. 4s *211.000 reserved for extensions
CHICAGO
&
RR.—ROAD—Chicago
ALTON
720; V. 98. p. 452
V. 81
p. 974. 91o
to
St.
Louis,
Kansas
City, Ac.. In all 1,051 miles.
Road owned—
,
Miles
Chicago to East St. Louis, 111
280
51
Sherman, III., to Grove, III
Jeffersonville Bridge.—See separate statement for that co.
Greenbrier Ry. 4s V. 72. p.
12% to 6% on stock, the latter being increased in June 1902 from
$120,650 to *195,650.
Reading owns $75,000 stock.—(V. 75, p. 76.)
from
Barnett to Titus
56
Coal City
27
Dwlght.
Laoon.
Line. Ill
111., to Washington and
Mexloo. Mo., to Cedar City, Mo_. 60
Roodhouse, 111., to Kan. C„ Mo
251
Bloomlngton to Wann, via Jack¬
sonville.
Alton
Godfrey
and
(all In Illinois)
81
lies to Murrayvllle, 111
Dec
Leases Rutland Toluca
Upper
.168
Trackage to Peoria, 111., Ao
34
Ill
Total owned and operated
Miles.
Road owned—
A North.
37
27
31 1919 (267 m. double tracked) ...1.061
Che. & O Ry of Ind—1st M
Date
Par
Amount
Rate
Bonds
Value
Outstanding
%
201
1905
100
100
ha A
to call
Cexf
*20,000,000 g red text.Usrnxc*Ar* l
EqTrSer 16 call 102 $47,500 due
943
Equally
Gen mtge
Quincy—Stock—
-
100
1910
27
Dlv
first
(V. 83, p. 025; V. 09. p.
Also operates,
Jointly with Clev. Cln. Ch. A
do
4
4
18,294.000
4
MAN May
1 1927
100
Ac
1,000* Ac
stock div. paid in 1921
Nor. to $165,867,400.)
Regular %
Extra
%
Net after taxes
REPORT.—For cal. year
1919.
23,553,711
Operating expenses
Net
Net
1918.
20,677,429
$1,718,623
$3,681,232
a3,178,315
$3,276,212
31—
1916.
1917.
Gross income
803,821
3,458,222
equipment
Miscellaneous
Interest on bonds, Ac
stock
Discounts written off
Divs. on guar,
15.133.977
12.498,253
$5,391,711
$5,597,484
$5,283,025
$5,566,375
1,186,831
697,217
3,403,949
3,376,963
250.024
250,024
106,550
162,682
a3,178,315
$3,187,914
333,893
3,587,487
250,024
102,278
earnings
income
Standard return
Hire of
1—Dec.
$25,272,334 $24,358,662 $20,525,689 $17,781,278
earnings
Gross
—Jan.
250,024
105,166
855,765
605,297
Balance, snr. or def__def.$997,469df.$l,429,319 def.$47,092sur.$315,644
a Standard
return represents the annual average railway operating in¬
come based on reports rendered the I.-S.
C. Comm. for the three years
ended June 30 1917; it is not final, as the contract with the Director-General
has not been executed, claim having been filed for $4,105,000 as just com
pensation for the use and control of the properties.
Compare V. 112, p. 61.
OFFICERS.—Chairman Exec. Comm., R. S. Lovett; Pres., W. G.
Bierd; V.-P.. Roberts Walker; Sec., Jas. Williams; Treas., H. E. R. Wood.
DIRECTORS.—J.
J.
Mitchell,
Joy Morton,
W.
G. Bierd,
Samuel
Insull, Roberts Walker, J. H. Hammond, James Steuart MacKie, R. 8.
Lovett, Edwin G. Merrill, H. O. Adams and V. D. Skipworth.—(V. 112,
p.
'99 to Sept. '01.
__
paid
a
BONDS.—General mortgage bonds (*300.000,000 auth. Issue, Interest not
5%) are a first Hen on 4,821 miles of road, and on retirement
bonds, for which bonds are reserved as below
ooted, will be a first lien on the entire mileage owned, aggregating 8,489
V. 103, p. 493.
The Generals have been issued or are issuable (V
86, p. 1342, 1466: V. 88. p. 504, 685; V. 92. p. 525; V. 96. p. 789), as follows:
To retire outstanding bonds (inch *17,428,300 in sink. fds.K.*177,000,000
Issuable for reimbursing the treasury for outlays already made
miles.
Metropolis, 111., and has built from Metropolis to Paducah, Ky., 14 m.)
See that company below.
in July 1875; since merged
Joseph A Counoll Bluffs
Ao., Ac.
*107,613.500 of the *110,839,100 stock was exohanged for the
and jointly guarantees
ORGANIZATION,
its bonds.
Ac.—A
consolidation
Chicago Burlington A Northern, Kansas City St.
Hannibal A St. Joseph, Burlington A Missouri,
*"
In
1901
Joint 20-year 4% bonds of the Gt. Northern and Northern Pacific, secured
by the deposit of the stock In trust, on the basis of *200 In bonds for *lon
stock (in 1921 replaced by an issue of 6H % bonds due 1936).
See V. 72
p. 871; V. 73, p. 293, and bonds under Great Northern.
(The $60,000,000
and
the mortgaged property (of which *13,724,000 sold)..
78,000.000
In Jan. 1909 *20.000,000 general 4s were sold, of whiob *13.724.000 wers
to
purchase $23,657,000 Colorado A Southern com. stock.
789: V. 98, p. 999. 1315; V. 101. p.
to
685: V. 92. p. 525: V. 96, p.
V. 88. p.
47; V 105
605.
p.
for
exoeeding 1,500 miles
441; V. 85. p. 721.
FEDERAL COMPENSATION.—$33,390,080 yearly during Federal
control (contract executed).—V. 107, p. 1747; V. 108, p. 2535.
Govern¬
The Nebraska Extension
bonds of 1887 are Issued at *20,000 per mile
single and $10,000 per mile for second track on not
Now a direct first Hen.
Abstract of deed, V. 45. p.
loan, V. Ill, p. 293.
Equipment trusts issued to Director-General
this company.
See article on page 3.
Jan. 1—March 31
REPORT —For 1919,
Calendar Years—
1—Dec.
31—
$154,011,438 $144,172,769 $122,342,707
$25,086,664 $23,991,477 $35,280,756
2,545,395
2,166,949
3,133.604
earnings—
Net. after taxes
Other income.-.
Total
Interest
Rents,
income
on
$27,632,059
$6,669,587
3,898,988
--
funded debt
&c
502,255
Sinking fund
Additions, Ac
Dividends
Balance,
x
—Jan.
1920.
1919.
43,682,838 184.610,986 154,011,437
in V. 110, p. 2381, 2394, showed:
xl919.
xl918.
1917.
.-39,879,751
Grois.
Gross
for rolling stock allocated
1919.
1920.
EARNINGS—
(8%)8,867,128
surplus
—
This is the combined company
the basis of the
2,618,189
$38,414,360
$6,790,177
2,218,150
841,893
10,265,851
1,397,031
8,057,964
$26,158,426
$6,750,463
(8)8,867,128 (18)19,951,038
x$7,694,101 def$3,l85,097
None
and Federal operating statement.
On
non-operating income and less
standard (rental) return, plus
charges and dividends,
the year 1919 shows a surplus of
$14,173,087.
OFFICERS.—Hale Holden, Pres.; C. G. Burnham, Executive V.-Pres.;
R. Safford, Asst. to Pres.; C. E. Perkins, V-Pres.; T. S. Howland,
V.-Pres., Sec. A Treas.; C. E. Spens, Edw. P. Bracken, Wm. W. Baldwin,
V.-Pres.; O. M. Spencer, Gen. Counsel; Chas. I. Srurgis, Compt.; L. B.
Allen. Gen. Mgr. of the lines East; G. W. Holdredge, Gen. Mgr. of the lines
West.—(V. 112, p. 1517, 1865, 1976, 2082. 1143, 1398.)
H.
CHICAGO & EASTERN
ILLINOIS RR.—Operates road from Chicago.
ill., to Evansville, Ind.; also Chicago to St.
Woodland Junction; and lines to Thebes and
bituminous coal fields.
Louis, leaving main line at
Joppa, 111., reaching various
Miles. Mt. Vernon Jet., Ind., to Mt.
Vernon, Ind
38
Ind
269
Rossville Jet., 111., to Sldell Jet.,
Danville, 111., to Villa Grove, Jet. 42
Ill-35
Momence Jet., III., to Brazil, Ind-130
Evansville Belt
4
FLndley Jet., 111., to Thebes, 111—194
Other
17
Joppa Jet. to Joppa, 111
17
Other Trackage, Ac.—
Cissna Jet. to Cissna Park, 111—_ 11
76
Percy Jet. to La Crosse, Ind
46 Pana, 111., to Granite City
Milford Jet.,111., to Freeland, Ind 11 Chicago to Dolton,Ch.A W. Ind_ 17
Other lines
44
Woodland, 111., to Pana, 111
123
Branches to Coal Mines
—
41
Total Dec. 31 1919
1.131
Rossville Jet. to Judyville, Ind-. 14
Lines Owned in Fee—
Dolton to Evansville,
2d track
BURLINGTON & QUINCY RR. (See Map).—ROAD.—
Operates a great system of roads extending from Chicago westerly, reaching
St. Paul ana Minneapolis, Minn.; St. Louis and Kansas City, Mo.; Omaha,
Neb.; Denver, Col.; Cheyenne, Wyo.; Black Hills, S. D., and Billings,
Mont., viz.:
Lines east of Missouri River
4.391 (Lines leased
353
Lines west of Missouri River—4.6281 Total miles oper. Dec.31 1919.9,372
In Deo. 1908 523.657.500 of the *31.000.000 Colorado A Southern oorn
stock (praotioally a controlling Interest) was acquired, affording conncwv
tlons with the Gulf of Mexioo.
V. 87, p. 1663; V. 88, p. 157, 685.
Owns Jointly with the Nashville Ghattanooga A St. Louis the Paducab A
Illinois RR. (which owns a double-track bridge over the Ohio River at
45,000,000
by It for betterments and additions (*22.000.000 sold)
Issuable for additions, Improvements and betterments of
61. 1023, 1143, 1616.
CHICAGO
Pac. and Gt.
March 1921, declared a stock
to exoeed
to
1920.
1920.
1919.
$6,787,146 $30,374,933 $25,722,334
398,820
919,055
977,162
1919, in V. Ill, p. 1178:/
Years ending Dec. 31
J'ne 30 Yr.
*98.
of the outstanding underlying
ment
1921.
do
record March 31 1921.
not over
$7,248,358
159,619
do
do
dividend of
stockholders of record Mar 31 1921.
*02 to "06. *07. *08 to Sept. "20.
\ 5H
6 yearly.
7 yearly. 7*4
8 yrly (quar.)
i
6
Sept *17.10%
stock dlv. of 54.132% ($60,000,000) to stockholders of
DIVIDENDS —f
ssuable thereunder on vote
two-thirds of stockholders for extensions of
fmovements and extensions. of Bonds In excess of *40.000,000 were to be
for rolling stock allocated
do
do
54.132% ($60,000,000) payable to
used
500 miles main track, at not exceeding *20,000 per mile, to fund
leased line rental obligations and for future betterments not to exoeed
$5,000,000, at not over $1,000,000 per annum, from Jan. 1 1900.
V. 09.
p. 178.
V. 09. p. 26. 129, 541; V. 70. p. 429, 739. 995; V. 79. p. 211, 907
V. 84. p. 480 . 507. 020 , 803 , 809; V. 88, p. 99, 293.
Of the Issue of $20,000,000 of 6% Gen.M. gold bonds. $10,834,000 wen
outstanding Dec. 31 1919. $8,417,000 being owned by the Union Pacifk
Railroad.
Of the bonds. $4,100,000 were reserved to retire $3.700,500
equip, trust obligations and $1,425,000 to refund $1,284,000 debentures
due June 1
1922.
Bonds are redeemable on any interest day at 105.
V. 94. p. 1505. 1095; V. 95. p. 749; V. 96. p. 789; V. 98. p. 838, 1315.
do
Increased the holdings of the North,
STOCK.—The directors in
Also
the Rock Island the con¬
31—
Y,
do
$10,343,100 pref. atk. V. 84. p. 1484
1—March
Chicago
Boston A Chicag«
New York and Boston
N
do
*09. '10. *11. '12.
Since.
4
2
None
None
4
4
2 None
None
8
0
4
2
None
BONDS.—First Hen (old Ry.) 3 He of 1900, V. 71. p. 1021; V. 82. p.451
The Railroad (old) mtge. securing the 3s of 1899 will provide funds for im-
—Jan.
Northern Tr Co,
1930
do
*00. '07. '08.
..
..
1
2
4
4
pref ...2
4
5
EARNINGS—
1
J July 1 1949
J July 1 1949
MAS Sept 1 1921
F
A
A Feb 1 1922
interest, viz.. $14,420,000 com. and $0,480,000 pref. stock, and
the same under its collateral trust bonds.on which Interest was
defaulted Aug. 11914. V. 88, p. 408.529.792; V. 99. p. 341.408.1051, 1210.
Gross
O Oct
A
deposited
Equipment trusts issued to Director-General
this company.
See article on page 3.
A
A
A
trolling
to
A
do
do
Aug 1 1920
F
A
7
848
Cle'.
do
J
eolared on to oommon stock of dividends equal to the rate of dividends
Ser annum, the receive additionalthe consolidated company. In Aug. 1907
owned on Dec. 31 1919
361.
7
do
Y;
J
organized In April
Alton Railroad
451, the Railway
V. 70, p. 686. 995
STOCK.—The cumulative 4% participating and prior lien stock Is enti¬
tled, In addition to prior right to accumulative dividends at the rate of 4%
p.
Q—F
Q—J
4
substantially all the stock of the Chlo. A
DIVIDENDS.—
Oommon stock
Preferred stock
Prior lien participating
A
%H
?
New Yo.k
St,
do
July 1 1932
Bankers Tr, N
To Dec 1 1921
Checks mailea
Nov 1 '20 1H
do
Oct
1920
1 >4
A
0 g
Rector
2
SH
consolidated In 1906 per plan V. 82, p.
ohanglng its name to the C. & A. Railroad.
V. 82, p. 160;
V. 95
July I 1950
June 1 1922
33.976.000
3.000
79.400
V. 91, p. 1024: V. 93, p. 408.
Union Pac.
A
50.451.000
St. L., from Wann to East
Louis A Western purchased from
Oct
A
Ac
were
the Toledo St.
First National Bank.N
do
do
1 1949
A
5
4
ORGANIZATION.—The (old) railway company was
1900 and purchased
A
3H g
05.247,000
18 m..and, with Atoh. T. A S. Fe, from Jollet to Pequot, 19 m
The stock of the Peoria Ry. Terminal Co. Is owned by the Chicago A Alton
and Chlo. R. I. A Pao. Ry., which guarantee the first mtge. bonds (*1,500,000 auth. Issue) and ist A ref. M. bonds,
V. 81, p. 1099; V. 83. p.752
1171, 1291; V. 84. p. 451; V. 85. p. 159.
The Rutland Toluca A Northern RR. Is leased for 999 years and Its bonds
The two
A
Q—M 25 See text
M
A
S Mch 11958
St. Louis,
guaranteed prln. and int.
A
l.OOOAc
1,000 Ac
1.000
mortgage! *85,000.000 currency _ L 1.646 /1899
11899
283)/ redeem at 105.-NBz
1,881
Sinking fund 4s (So W Dlv) drawn at 100
zo* Ar
1881
370
Denver Exten (coll tr) bonds s f drawn at lOO.NBzc*
1887
1.471
Nebraska Ext *20.000 p m(s f not drawn) _NB.zc* Ar
Illinois
Office, 71 B'way, N Y
1930
Columbia Trust Co. N ¥
1 1955
1921,1 H Treasurer's office. Phil
A Feb 15 '10. 2% Checks mailed
do
Jan 10 1911.2%
do
Jan 15 *12. 2%
June 4
3 g
100
329.000
225.000
Ac
100 170,839,100
1 000
1908
8,489
money.__Ce.zc*Ar*
*300.000.000 lawful
100
Ifti
A Missouri guaranteed preferred stock..
Rutland Tol A No 1st M g gu red since Oct'15-NCc*
Louisiana
Chicago Burlington &
100
i
Payable
A Aug
A
Q—M
16,834,000
47,500
1,750,000
1.500,000
1.000 Ac
500 Ac
162
37
Louis A C preferred stack guar___Jollet A Chicago 7% stock perpetual guar by C A A
Kansas City St
•
Ac
1.000 Ac
1 000
1899
1900
1907
1912
1910
889
secured
JAD.Clxxx
F
Dividendsare
J July 1
A
F
19.542.800
19.544.000
868.700
45,350.000
22.000.000
628.000
100
4% cumulative participating and prior lien stock..
Chlo A Alton RR (old) ref M g (see text) IC.xc*Ar*
First lien (old Ry) M subject to call at par.F xc&r
J
186.000
195.650
50
4
5
7,270.000
1.000
1,000
1910
38
*30,000.000 red par.-Bax
Places Where Interest an
Maturity
Payabte
& Lancaster—1st M *750,000 g_.Col.xo*
Chestnut Hill RR—Stock rental PAR Ry
Chicago & Alton RR—Common stock
Preferred stock 4% non-cumulative
Debentures, subject
Dividend
and
When
Road
6]
Chesterfield
Gen M
L>iet
Mites
COMPANIES
RAILROAD
[For abbreviations, &c., see notes on page
[Vol. 112.
BONDS
RAILWAY STOCKS AND
33
339
Rockvllle extension. 17 miles.
HISTORY, Ac.—The St. Louis A 8an Francisco In the reorganization of
1916 relinquished the stock it owned.
V. 102, p. 896; V. 104, p. 1387,2235
O. AE. I. owns$1,000,000 stock Chicago A Western Indiana.
On May 27 1913 receivers were appointed, there being a floating debt of
about $5,000,000: W. J. Jackson of Chicago is now receiver.
Theodore C.
Keller was receiver of the company's coal properties.—See below.
As to elimination of Ev. A tnd. RR. from system, see V. 105, p. 1418,
also separate statement below.
Receivers' Certificates .—The $6,000,000 due July 1 1917 continue to re¬
ceive 6% interest till paid; V. 104, p. 2460.
See table above and V. 99.
p. 47
V. 102. p. 2253
DEFAULTS.—In June 1915, under order of Court, all Int. on equip se¬
curities had been paid promptly and their principal extended for three years
but on all other bonds the interest due March 31 1915 and subsequently was
in default.
On Oct. 1 1916 all coupons due and overdue on the following
Issues were paid and subsequent interest on the same issues has been regu¬
larly met to and incl. Dec. 31 1919 (as to other coupons still In default see
leases
Also
at
to
other companies
(V. 104. p. 1387,.2225: V. 106.J? 85.>
ICh. A E. 111. First Consol. 6s,
Creek 1st 6s,
JEv. A T. H. RR. First Consol. 6».
6s,
(Evansville Belt Ry. First 5a.
E. 111. First Extension 6s,
head
of page).
Danville A Grape
Ev. T. H. A Ch. Income
Ch. A
eo
m
ft
■fz«
O
ft
m
M
Q
O
EH
OQ
3
PH
o
a
Chicago & Eastern Illinois—Securities to be issued
Securities of old company (those marked (*) remain
undisturbed
in
Reorg.
Plan)—
Com stock $15,000,000
--Preferred stock 6% noo-cum ($15.000,000)
*
First mortgage extension
xc*
•Consolidated mortgage (for $5,948,000) gold.Ce.zo*
Genera) Consol and IstM $30.000.000
Ce.zc*Ar
Oh A Ind Coal By—1st M $25,000 p m ass'd.Mp.xo*
Receivers' certs $6,000,000, Y 104, p 2640__
Refund A Imp M (text) g red at 102X--Ba.xo*Ar*
Pur money 1st Hen Coal M (foreclosed) g_Ce.xc*A*
Evansv A T H 1st consolidated M goldf
F.xo*
Mount Vernon Branch mortgage gold
F xo*
Sullivan Co Coal Branch mortgage gold_„_F.xc*
First General mtge for $7,000,000 gold—F.xc*
Refunding mortgage $1,284,000 red par
*Nx
•Evansville Belt Ry first mortgage gold
x
♦OAEIEq Series H due $166,000 or $165,000sa ext.x
a
Payment of accumulated and current
Interest resu
Par
Amount
Rate
Road
Ac., see notes on page 6]
Bonds
Value
Outstanding
%
Payable
Plan—see
Reorga nization
under
130
1,024
168
820
1912
146
1881
25
1883
1890
1892
4
1910
1912
med
a s
of Oc 1.1 1916
Reorganization.
.
Issued by the New Company.
Gold Bonds [subject to $5,137,600 underlying
will mature not earlier than 1961 and will bear
such interest payable semi-annually, be issued in such series and may be
made redeemable in whole or in part, and at such premiums a may be
determined by the board at time of issue and stated in the bonds of such
series.
They will be used only:
,
(а) As collateral to the U. 8. (incl. 25% margin) for moneys bor¬
rowed and to fund obligations to the U.S.
Any balance not
so used or released on payment of obligations to the U. S. to be
used as shall be provided in said Mortgage
$5,262,000
(б)
To fund outstanding obligations [undisturbed by reorganiz'n] 5,137,605
(c) For additions and betterments to the road, for equipment,
Securities to be
(1) Prior Lien Mortgage
bonds].
These new bonds
..Not fixed
approved.
interest from May 1 1921.
time to exceed $35,500,000; to
interest from May 1 1921, pay¬
able semi-annually, and to be redeemable, all or part, at par and int. for a
sinking fund which shall receive cumulative payments out of net earnings
above fixed charges equal in each year to Yi of 1% of the total face amount
of bonds originally issued.
Bonds retired by the sinking fund will continue
to draw interest until maturity but will not be reissued.
Failure to make
sinking fund payments, if earned but not otherwise, will constitute default
(3) Preferred Stock, 6%, Cumulative after Jan. 1 1924.
The Preferred 8tock will be preferred as to assets and as to dividends
at the rate of 6% per annum and no more.
Such dividends will become
(2) General Mtge. 5% Gold Bonds to bear
Total authorized principal amount at no
mature not later than 1951 and to bear 5%
Each share of Preferred stock shall have
the
voting rights as a share of Common stock.
Application of New Bonds—Terms of Exchange for Old Bonds.
Amount.
—Will Be Exchanged under Plan for—
Cash.
Gen. M. 5s
Pref.
Slk.
$2,134,300
$3,478,909 $24,800,566
($100)
($163)
($1,162)
18,019.000
.Ref. & Imp. 4%, 1955— 18,019,000
Bonds Now
Per $1,000
bonds
($1,000)
(b)
Evans. & T. II. Bonds—
Consol. 6%, July 1921
3,000,000
Per $1,000 bonds
Gen. M. 5%, .1942...
Per $1,000 bonds
Ref. M.
.
3,000,000
($1,000)
524,383
3,695,700"
($165.16)
($1,164)
3,175,000
(c)
bond...
1,284,000
(b)
375,000
(c)
Sulli. Co. Coal Br.5%
Per $1,000 bond
450,000
(c)
5%, 1941__—
Per $1,000 bond^_.
Mt. Vern. Br. 6%, '23
Per $1,000
317,500
($100)
1,284.000
($1,000)
148.125
375,000
($395)
($1,000)
450,000
148,125
($1,000)
($329.16)
5,810.370
To stockholders and underwriters._
Terms
of Exchange Offered Holders of Present Company's Stock.
Amount
Existing Stock—
Pr£ferr£d™st?ck
Per
$100 share
Common
Outstanding.
---$12,163,500
stock...
Per $100 share
$7,204,400
O Oot
1 1934a
6
J
A
J
A
5 g
J July 1 1917
J July 1 1955
Feb 1 1942
mm* —
J
A
A
A
J July 1 1921a
5 g
5 g
450,000
A
A
O Apr
O Apr
A
A
O Apr
A
1
1
1
J July 1
5
J
5 g
MAN Nov 1
6H
MAS
partial exchange for—
'
N
Mech A Metals Bk
OentUnTrust (text)
not paid
not paid
see text
1941
1940a
not paid
not paid
Y, Bankers Tr (text)
April
April
April
July
1923
1930
1942
Sept'21-Sept"25
dated Se pt 25
of Court
under order
N Y,
N Y,
May 1915 coup
July 1914 coup
Eq Tr Co, N Y,
July 1914 coup
Feb 1915 coup
MAN Nov 1 1937
1 1936
J
A
J Jan
N Y,
1915 coup not paid
1915 coup not paid
1915 coup not paid
1915 coup not paid
Columbia Tr (text)
See text
continued since.
1916 and
—- 3,478,909
5% bonds...
524,383
provide working capital
services
(estimated)
3,107,078
to be Available for Foregoing—
C. & E. I. RR. Co. Gen. Consol. 5% bonds
Evanfeville & Terre Haute RR. First Gen. Mtge.
To pay other liabilities of the receiver, to
and to pay expenses of foreclosure and reorganization,
of experts, commissions of underwriters, Ac.
of $16,110,370 Cash
hands of receiver, incl. loans
proceeds of settlement with U. S. RR. Administra¬
tion growing out of Federal control, incl. loan by Inter-State
Commerce Commission from Revolving Fund
$10,300,000
From the sale of $5,810,370 new 5% Gen. Mtge. bonds to stock¬
An
Aggregate
Cash estimated to be available in
from and
holders
or
underwriters
2.
— — -
5,810,370
t«iNo allowances for interest payable on the one side, or of earnings or
to be received as compensation from the Govern¬
have been made in tho above statement.
Road Sold at Foreclosure.—The road was sold at foreclosure proceedings
any additional amounts
ment on the other side,
on
Compare V
April 5 1921 at Danville, 111.
112, p
1517
Court in Chicago on May 3 1921 refused to
the reorganization plan in its entirety.
Strong opposition was made
by counsel for the Mechanics A Metals National Bank.
Its claims were
referred to C. B. Morrison, Master in Chancery.
The sale of the Brazil Branch at Danville was postponed to June 3 1921.
Judge Carpenter In th«<U. 8.
approve
for Bonds, Stock, Ac.
Committee —John W Platten, Alvin
Protective Committees
Joint
Reorganization
W. Krech,
Henry Evans, F. J. Lisman and Frederick H. Ecker.
Committee for Ref. and Impt. and other Bonds, except Chic. A Ind. Coal
Evansv. A Ind. and Purch. Money 1st M. Coal Bonds, also Equipment
Obligations.—John W. Platten (Chairman). Calvert Brewer. Sec.; U. 8.
A Trust Co., depositary.
V. 96, p. 1555; V. 98, p. 999; V 99,
47; V. 100. p. 981, 1671. 2166; V. 101. p. 447,1092,1885; V. 104. p. 361.
Committee for General Consol. A Is; Mortgage 5s.—Henry Evans (Chair¬
man). A. F. Haisted,
Sec., 62 Cedar St.. N. Y.
Guaranty Trust Co..
depositary.
V. 101. p. 447. 129, 1972.
_
„
Committee for St. L. A S. F. Trust Certifs. for Com, and Pref. Stocks and
C. A E. I. Stock.—Alvin W.
Krech (Chairman), Richard R. Hunter,
Mtge.
p.
Sec.; Equitable Trust Co., depositary.
V. 96, p. 1628. 1700; V. 97, p.
175. 1425: V. 104, p. 1387, 2235.
Committee for Chic. A Ind. Coal Is* 6s.—James B. Mabon (Chairman),
Charles E. Sigler, Sec.; Central Trust Co., N. Y.. depositary.
Y. 98, p.
1992—V. 99, p. 195, 269, 1299, 1596; V. 100, p. 228; V. 101, p. 845;
V. 102, p. 344; V. 104, p. 2552: V.
Committee for Purchase Money
107, p. 1481.
Coal Bonds.—George O. Van
,
„
_
Tuyl Jr.
(Chairman), James F. McNamara, Sec.; Metropolitan Trust Company,
New York depositary.
The coal property was sold under foreclosure
to the committee on Dec. 18 and 19 1917 for $3,800,000.
V. 105. p. 1617,
2542; V. 100, p. 307, 641.
In Nov. 1917 this Issue received a payment or
20% ($200 per $1,000 bond) chiefly from coal earnings accumulated during
the receivership.
V. 105, p. 2093.
A further $18 76 per bond was paid
In April 1918 and in Jan. 1919 $125 (holders of deposited bonds $100).
V. 108. p. 77; V. 106, d. 1577. 1900.
,
,
This committee in Jan. 1920 announced that a new corporation, viz.;
Indiana A Illinois Coal Corp., had been organized in Delaware with $4,057.600 7% cumui. pref. stock and 40,000 shares com. stock, no par value.
The holders of certificates of deposit of the above bonds were entitled to
receive from the Metropolitan Trust Co., N. Y., on and after Jan 29 1920,
$100 in cash $800 par value of pref. stock and 6 shares of com. stock of the
new co. upon surrender of their certificates.—V. 110, p. 464; V. Ill, p. 73.
,
,
Evansville A T. H. 1st Gen. 6s.—Frederick J. Lisman (Chair¬
Adams, 30 Broad Sc.; Farmers' Loan A Tr. Co.,
V. 100, p. 1256, 1437, 1509; V. 101, p. 47.
STOCK.—In addition co outstanding stock. $6,421,700 common was on
Dec 31
1917
held
in trust
by Equitable Trust Co. as a part
of
"trust assets" under agreement dated July 1 1905, for improvements, acqui¬
sitions or refunding, and $1,128,600 was In treasury (mostly pledged).
V. 85. p. 1001: V. 92. p. 1374. 1435; V. 93. p. 229. 688. 1393.
BONDS, ETC.—General Consol. and First Mtoe. of 1887 (trustee. Cent.
Trust Co.
(issue limited to $30,000,000), see V. 64, p. 1088; V. 78. p.
1446: V. 79, p. 1331; V. 80. p. 1728; V. 84, p. 1550; V. 96. p. 284.
See Refund, and Impt. gold 4a of 1905, V. 80. p. 1424; V/ 81, p. 1436;
V. 88, p. 451; V. 90, p. 558; V. 92, p. 117; V. 93. p. 588; V. 94. p. 487.
In Feb. 1918 $600,000 Ref. A Impt. 4s pledged to secure defaulted notes
were sold at auction and March 25
1918 a further $442,000 with other
securities was sold.—V. 106, p. 928, 1229, 1343.
As to First Lien Coal bonds see Committee above and V. 94. p. 629;
V. 95. p. 1039. 1122. 1393: V. 100. p- 307: V. 105, p. 1617. 2093.
STANDARD RETURN as certified by I.-S. O. Comm., $2,946,001
The compensation committee recommended $4,408,003, but this amount
man); Secretary, Graham
.-$47,646s000
$7,003,292 $35,500,000 $22,051,050
a b c. With coupons attached as follows:
(a) May 1 1915; (b) July 1
1915; (c) April 1 1915.
Application of $24,135,100 Common Stock—Settlement for Guaranties.
To stockholders or to underwriters who pay assessments
$19,367,900
To holders of Evansville & Indianapolis 1st M, 6% bonds, due
1924 ($647,000) and 1st Consol. M. 6% bonds, due 1926
($1,853,000—V. Ill, p. 188) on account of guaranties thereon
1,000,000
[being equal to 40% of total amount of principal of bonds]
To holders of Chicago & Indiana Coal Ry. 1st M. 5% bonds,
due 1936 for their claim against the Old Company being
equal to 45% of principal of same
2,081,700
For adjustment of debt, &c
1,685,500
Total.....
Holders oj
A
>4
1 1931a
A
Committee for
368,364
General reorganization expenses
Dividends are Payable
t
D Deo
6 g
6 g
railroad and for such other purposes
Outstanding—
Outstanding.
Gen, Consol. 5%, 1937_$21,343,000
Per $1,000 bonds
"
(a)
1
4 g
1,000
1911
Coal Ry.
same
1
A
6
See text
6,000.000
18,019,000
5,167,000
201
201
Managers)
cumulative after Jan. 1 1924.
1
Apr" T1913 ~ 1
1.000 Ac
1,000 Ac
1.000 Ac
1,000
(Dated March 31 1921; Kuhn, Loeb & Co., Reorganization
New Company.—The new company (to be known as the Chicago& Eastern
Illinois Railway) will acquire the title to the railroads, franchises, securities,
Ac., of the present company, with such exception, and additions as the
reorganization managers shall determine.
It will not acquire: (a) the coal properties formerly embraced in the
Purchase Money dftrst Lien Coal Mortgage of 1912; (b) the former Evansville A Indianapolis RR. (foreclosed); nor (c) former Chic.
A Indiana
and under such restrictions as may be
1
J
6 g
5
2,736,000
21,343,000
1,000
1,000
1,000
50 Ac
1,000
30
>
and for additional lines of
1
6
In
of
Plan
1
1
100
1,000
1,000
1,000 Ac
1.000
Where Interest and
Places
and Maturity
t ext
$100
1881
1884
1887
1885
1916
1905
14
Dividend
Last
Date
When
Miles
RAILROAD COMPANIES
[For abbreviations,
[VOL. 112.
AND BONDS
RAILWAY STOCKS
34
If
Paying —Will Receive in Exch.—
Cash.
Gen. M. Bds. Com. Stk.
$3,649,050
($30)
$2,161,320
($30)
$3,649,050 $12,163,500
($30)
$2,161,320
($30)
($100)
$7,204,400
($100)
depositary.
was
reduced
by the
Director-General of Railroads to $3,280,000. Judge
1919 ordered the receiver to appeal to the Board of
Carpenter on Nov. 5
additional compensation. V.108, p. 2325; V. 109, p. 1700,1891.
The Board of Referees, in Mar. 1920. recommended annual rental of
$4,450,000.
V. 110, p. 1186.
In Oct. 1920 the company filed a petition
with the U.S. Court of Claims asking the Court to determine the amount
of just compensation.
V. Ill, p. 1851.
Under the terms of a settlement with the Government in Feb. 1921, the
Referees for
Total_
$19,367,900
$5,810,370
$5,810,370 $19,367,900
Th0 sum of $30 a share must be paid: (a) $5 on or before April 30 1921;
(0) the balance in such installments as the reorganization managers may
require.
Interest at 5% p. a. will be charged on other than such first
payment from May 1 1921, from wnich date the new bonds draw interest.
Securites Aggregating $9,347,600 to Remain Undisturbed.
First Extension Mortgage 6% bonds, due 1931
$91 000
First Consolidated Mortgage 6% bonds, due 1934.
2 736*000
Evansville Belt Ry. Co. First Mortgage 5% bonds, due 1940...
142'.000
Equipment Certificates, Series "H," 5}4%, maturing serially
from Sept. 1 1921 to Sept. 1 1925
L
1 477 000
Receiver's Equip. Notes to Director-General of Railroads ma'
turing serially to 1935
691 600
Loans from U. S. Government: (1) 10 Years 6%, $3,425,000;
_
_
(2) 15 Years 6%, $785,000
A Total of $16,110,370 Cash Rquirements.t
Payment of receiver's certificates
Payment of Evansville & Terre Haute RR. Co.
Mortgage 6% bonds, due July 1 1921..
4,210,000
$6,000,000
First Consol.
company
received (1) $3,000,000 on open
of the amount of
into 6% notes
1930 (to be secured by Prior Lien Mtge. bonds
for the amount of the loan plus the margin required
maturing March 1
new
company
of the
by the
Director-General).
unsettled claim of the receiver against
compensation during the guaranty period.
There is still an
for further
the Government
Equipment trusts issued to Director-General for rolling
to this company.
See article on page 3.
—Jan.
1—March 31—
—Jan.
EARNINGS—
Gross
3,000,000
accounts, claims, compensation,
&c.; (2) $3,425,000 by the funding by the Director-General
additions and betterments made during Federal control
Net after taxes
1921.
$6,792,880
def495,964
stock allocated
1—Dec.
31—
1920.
1920.
1919.
$7,420,902 $30,896,865 $24,795,100
698,743
878,737
def.91,844
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% paoU°A><
m.
Par
Amount
Bate
When
Bonds
Value
Outstanding
%
Payable
1890
1890
1888
249
Chicago & Erie—1st M g Int guar till prin pald.Ce.zo*
Income bonds for $10,000,000 5% non-cum
.Nz
249
Ser B due $37.000or $38,000s-a..x
O due $60,000 s-a
Ba.xc
do
due $69,300 annually..:
;.
loan—Transportation Act
Equip bonds
do
II s Govt
Guaranteed Bonds—
Kentucky & Indiana Terminal RR 1st M 4V$s—8
1st M g Int only gu sf red llOBaxc*
5
"
100 AC
562.500
m
2,500,000
820,000
do
1928
do
do
.
J
« f
100
1,000
1.000
1,000
600 Ac
1.000
1.000
4
38,000
A
A
200,000
J July 1
A
J
A
J
A
IH J
'20
A
N 1
do
do
do
do
Co. N 1
A Oo, N Y
Co, N Y
do
Guaranty Trust
P Morgan
Bankers Trust
do
AJ15 To Jan 15 1935
A
O Nov 20 1935
A
J
5 2
Co,
A
Morgan
do
'21-Aug '23
A Aug
F
P
do
J
•J
any
2,875.000
June 29
MAN May 1 1966
A
AO!5 Oct 1921
<6
1.000
1947
D Dec 30 '20 2%
J July 1 1947
J July 1 1947
1 1950
J Jan
A
J
6
1920
1938
Text
J
4
250,000
970,200
1
Co, Chit
Northern Trust
I 1931
J Jan
D Dec
A
J
S *
text
10,500,000 See
4
5,(XX) ,000
9.700,000 5 A 0g
; 4 2
5,300.000
4 2
bl.172,000
5
c6,754,000
100
tba t comp
1911
1
J July
A
J
S*
1920
ee
J
Railroad. New Yorti
do
A
g
45.210,513
J P Morgan A Oo. N Y
July 15 '19 1%
text
43,926,602 See
do
do
MAS Sept 1 1959
4 g
25,383,000
Bank of Montreal, N Y
1 1950
A
J Jan
3* g J
500.000
100
100
$.£ Afr
1,000
1913
Ser
&0 alO,000.000
300,000
Erie
MAN May 1 1982
A
O Oct 1 1982
5 g
5
$1,000 $12,000,000
•
1,000
Chicago A Atlantic Terminal lat M gext 1918 Coze*
Chicago & Grand Trunk—See Grand Trunk West Ry
1496
Chicago Great Western—Common stock $46,000,000
1496
Pre? (prin. A dir) 4% cum red $50,000,000 auth1909
1035
First mortgage gold $75.000.(X)0..--_-, G.xc'Ar*
1900
Minneapolis Terminal mortgage gold assumed
z
Mason Oity & Fort Dodge—See that company
RR
Chicago & Great Western—See Bait & O Chicago Ter
Belt R R
Chicago Hammond & Western—See Indiana Harbor
1911
Chic Hgts-Term Transf—1st M $l,000,000gred 105 sfx
"26 1913
Chicago & III Midland—1st M $3,000,000 gold—x
1907
Chicago & HI W—Gen(now lst)M g gu red par.CC.xo*
Chicago & Indiana Coal—See Chicago & Eastern HI
Chic Ind & So—Bee New York Central RR.
Chicago Indianapolis & Louisville—Common Stock—
Preferred 4% non-cumulative $5,000,000
1897
618
Refunding (now 1st) M ($4,700,000 are 6s)-—Cex
1910
618
do
$15,000,000 gold [Series O
x
1906
64
Indlanap A Loulsv 1st M closed (assumed)..G.xc*
1916
618
First & Gen M $40,000,000 gold Ser A—yg.c*Ar*
1911
ao
Where Interest an
Dividends are Payable
Places
and Maturity
Road
61
IFor abbreviations, &c.> see notes on page
Date
Last Dividend
Miles
RAILROAD COMPANIES
do
[VOL. 112.
BONDS
RAILWAY STOCKS AND
36
Bankers
D June 1 1936
A
Trust Oo, N Y
Monon Coal Co
All except $98,000
a.
owned by Erie RR
Co
$478,090 held in treasury Dec. 31
$3,493,000 held in treasury Dec.
b Additional
Of which
c
REPORT.—For calendar year
Calendar Years—
xl919.
1920
31 1
earnings.........$24,795,181 $26,753,092
Net, after taxes.
def.221,668
1,610,190
Other income
803,307
1,017,943
Gross
,$581,638
Gross income
...
Interest paid
Rents, Ac
Accrued Interest not
862,679
2,947,504
826,296
2,356,793
967,837
1,017,429
3,310,077
2,384,795
Combined
(est.), $2,bal., sur.$1994.757
OFFICERS.—Pres., W. J. Jackson, Chicago; V.-P., W. H. Lyford,
Chicago; V.-P., Alvin W. Krech, N. Y.; V.-P., T. D. Heed, Chicago;
Sec., F. R. Austin, Chicago; Treas., J. P. Reeves, Chicago; Receiver. W. J.
Jackson. Chicago.—(V. 112, p. 256, 561, 651, 932, 1143, 1282, 1398, 1508,
1517, 1865, 1976 2082.)
;
f
,r-;
,
'
CHICAGO & EASTERN ILLINOIS RY.—See Chicago A Eastern
$1,591,653
income.-$1.148.036
$429,223
Gross
,
.
Marlon, Ohio,
West Ino.
CHICAGO & ERIE RR.—{Map Erie RR.)—Owns from
to Hammond, Ind., 249 miles, and leases trackage over Chicago A
to Ohioago. 20 miles.
Erie RR. Co. owns entire $100,000 stock.
with the
stock and
bonds is paid
$10,000,000. See
BONDS.—First Mortgage covers 249 miles of road, the contract
A Western Indiana, $1,000,000 of that company's
$240,000 stock of Chicago Belt Ry.
Interest on income
regularly; Erie RR. owns all except $98,000 of the
abstracts, V. 51, p. 911; V 61, p. 750; V. Ill, p. 1948
—Jan. 1—March 31—
—Jan.
1—Dec.
Chicago
c$2,685,250
def.236,899
Gross
Net after taxes
OR EAT WESTERN RR.—Forms
Oelweln, Iowa, northerly to St.
CHICAGO
the "Corn Belt" route,
Paul, easterly to Chicago
westerly! to Kansas City and Omaha
and southerly and
Lines owned (total,
$10,401,398
1.324,777
$2,671,548 $12,837,811
66.841
1,091.999
radiating from
31—
1919.
1920.
1920.
1921.
EARNINGS—
757 miles).
Chicago to St. Paul
Oelweln to St. Joseph
Bee Creek to Beverly
Miles.
401
290
23
22
21
....
Waverly
Mantorville, Ac., branches...
1
Leavenworth to Kansas City....
96
Maakato to Red Wing, Minn.
118
Red Wing to Osage, la
54
Winona to Simpson, Minn...
3
Branch to Clay Banks, Mlnn.
6
Goodhue to Belle Chester.
Sumner to
Miles,
(total, 78 miles)—
Trackage
St. Paul to
11
Minneapolis
Chicago Terminals
10
Galena Jot., 111., to Dubuque, la. 14
Des Moines Terminals
3
Leavenworth to Kansas City..—26
St. Joseph, Mo., to
9
5
Bee Creek
Other trackage......
Operated under agreement.
Mason CyA Ft.Dodge,383 m.,vl*,:
Oelweln, la., to Coun'l Brfls.
260
100
Hayfield,Mlnn.,to Clarlon.Ia.
Branches to Lehigh, Ac
Trackage to So. Omaha. .
Total mileage Dec
31 1920-
15
8
1,496
stock of the Mason City A Fort Dodge RR. Co. Is
owned and the road operated under agreement (see separate statement for
that company).
In 1910 acquired entire stock of Leavenworth (Kan.)
Term. Ry. & Bridge Co.
V. 91, p. 214, 397.
The stockholders on May 7 1920 passed a resolution ratifying the con¬
solidation of the Wisconsin Minnesota A Pacific with the Chicago Great
The entire capital
Western,
ORGANIZATION.—Incorp. In Illinois Aug. 20 1909 as successor per plan
of railway acquired at Judicial sale. V. 89, p. 628, 592.
V. 88, p. 1497,
Federal
Compensation.—$2,953,450 yearly during
tract executed).
V. 108, p. 783, 1936.
Federal control (con¬
•
STOGK.—The pref. stock
($50,000,000 auth. Issue) was entitled
Don-cum. dlvs. at 4% per ann. to June 30 1914 and to cum. divs.
at that rate ahead of the oom. stock, and also to a preference as to
and accrued dividends in case of dissolution or liquidation.
to
thereafter
prlnolpal
May 1 and Oct. 2
then till Aug. 15 1918, paid 1%; Jan. and
V. 108, p. 2629.
BONDS.—On Dec. 31 1920 $37,957,000 of 1st M. 4s of 1909 had been
issued, $25,383,000 being held by the public and
$6,062,000 by the co.
$1,000,000 were pledged with Director General of Railroads and $5,512,000
were
pledged with Sec. of U. S. Treasury.
,
Holders of all except $11,000 of the $6,232,000 Wisconsin Minnesota A
Pacific bonds accepted In exchange per $1.000 bond $500 each in C. G. W.
1st M. 4s and $500 in pref. stockV. 97. p. 49. 523, 728. 1203. 1217,
Equipment trusts issued to
Director-General for rolling stock allocated
after their date.
—Jan.
1920.
1 —Dec. 31—
1919.
miTlXT
XT
r,
EARNINGS—
-—Jan. l—March 31—
1921.
1920.
Boulevard, Chicago, 111.
DIRECTORS.—Samuel M. Felton, John
Net after taxes
288,060def1,735,087
1920, in V. 112, p. 1969.
Calendar Year 1920.
REPORT.—The report for cal. year
Income
Two Months ended Feb. 29 1920,
Balance after expenses
,
(1)
Account for
under Federal Control.
(2) Six months ended Aug. 31. under guaranty
Net deficit from railway operation
Compensation under "Transportation Act
Other
,
period:
.
—
107, p. 905.)
(V^93, p. 1599; V.
Willow Springs
54 miles, of
V. 83,
491.
Of the Gen. 6s of
Jan. 1917,
$89,890.
$180,291. against $141,.
def. of $788. Pres.
97.
1356) .
'"CHICAGO INDIANAPOLIS & LOUISVILLE RY.—Operates the
'Monon Route" from Chicago, 111., via Monon, Ind., to Indianapolis, Ind.;
Total Dec. 31 1920, 654 miles,
viz.:
and Louisville,
Ky., with
Lines owned—
State
Indiana
/
•
to
Line
branches.
Miles.
Indian¬
162
apolis
New Albany to
Michigan City—289
Bedford to Switz City
French Lick Springs..
Clear Creek to Harrodsb g. Ind..
Orleans to
Wallaoe Jet. to
McCoysburg to
A lease for
Shirley Hill A br.
Dinwiddle
40
18
9
contract—Miles
Oper .under Trackage
Chicago to Indiana State Line—
New Albany to Louisville
Connection to Indianapolis
Switz City to
Victoria
west of
Miscall aneoua
...
Less—Track north of
Ind., not
04
20
7
2
10
1
Dinwiddle,
(4)
operated
36
A Western Indiana (of whose stock this
entrance to Chloago on a mileage basis.
A Ind. Terminal RR. at Louisville, Ky
999 years with Chicago
company owns $1,000,000) gives
Owns one-tblrd interest In Ky.
Louisville New Albany A Chloago,
settled, V. 75, p. 1031.
Southern Ry. acquired 93%
of $10,500,000 com. and 77% of $5,000,000 pref. stock, on the basis of $78
and $90 per$100share,re8peotlvely,intheir Joint 50-year 4% collateral trust
gold bonds at par, secured by the stock acquired.
See description of bonds
under Louisville a Nashville.
V. 74, p. 1088. 1138; V. 75. d. 28.
Federal Compensation.—$1,620,259 yearly during Federal control.
DIVS. since 1902—
l *06. '07. '08. '09 to '13. '14-15- *16. '17
T7-'20.
On common..
%J
3
3
3 3)4 yly0
47^ 3H text
Common dividends, 3)4%. Juno 29. and IH% eac-i in Dec. 1916, June
and Dec. 1917; then none until June 29 1920 when 1^4% was paid.
"ThISTORY.—Successor July 1 1897 of
foreclosed per plan In V. 63. p. 922.
Suit
In Aug. 1902 the Louisville a Nashville and
BONDS.—Refunding Mortgage (closed $15,000,000), see
518, 1095; V. 92. p. 1031. 1700; V. 93. p. 44;
Co. notes assumed, $17,080-
V. 91. p.
V. 90, p. 1613.
V. 94. p. 1118
Monon Realty
First A Gen. M.
of
1916$40,000,000.
(V. 102,p. 1810; V.
104, p. 1044.
1916
Issuable
$6,754,000
16,000,000
1.172.000
J17.074,000
which $40,000,000 First & Gen. M. Bonds of
are
Issued (Incl. $3,493,000 in treasury) to Dec. 31 1920
Reserved—To refund Ref. M. bonds due July 1 1947.^_
To exchange for outstanding Ind. A Louisv. Ry
1st M. bonds
To refund 60% of equipment bonds (40% from income)
1
Purposes for
For
acquisitions.
Improvements. Ac.,
General Mtge. covers
1810):
The First A
V. 102. p.
A Direct Lien on
mtge.
on
all Road owned,
509 miles, and a
under restrictions
the entire property,
being, (compare
viz.: A 1st Mtge. on 45
3rd mtge. on 64
miles.
miles, a 2nd
only to the closed Refunding mtge.,
terminal facilities In Chicago, Louisville
and Indianapolis and in Kentucky A Indiana Bridge,
(b) on 10.000 shares
of capital stock of Chicago A Western Indiana RR- and 2,400 shares of
capital stock of Belt Ry. Co. of Chicago,
(c) rolling stock, Ac., valued at
(2) A Direct Second Mortgage, subject
(a) on the leasehold interests in
over
$7,438,000.
$1,650,000 was assumed
along with $253,000
Indianapolis A Louisville bonds, entire issue
311916, of which $478,009 are held in the treasury
p
s
1.636,943
$1,000,000
Bonds out,
$526,878. due
$88,435: other
$4,305.
ThICAGQ & ILLINOIS WESTERN RR.—Projected
southwesterly to Joliet, Illinois, with branches, a total of
which 17 miles In operation. Willow Springs to Hawthorne.
p.
Stock, $1,000,000; par, $100.
V. 97. p. 1114, 1356.
1907 ($4,000,000 auth. issue), $905,000 were outstanding in
guar. prin. A int. by Dolese A Sbepard Go,. Chicago: equio
trusts.
V. 86, p. 107; V. 88. p. 685.
For year 1917. gross,
100 in 1916, and net surp. after taxes, $10,889; agst. a
W. B. Clark
Office. 108 South La Salle St., Chicago.—(V.
p.
Rh. (assumed) 1st M. 5s. V. 105. p. 1305; V. 82,p. 508; V. 83.
V. 102, p. 1810.
Also guarantees Int. on $2,875,000 Monon Coal
M. 5s due June 1 1936. redeemable at 110 ($3,000,000 authorized
V. 93. p. 44. 697; V. 108, p. 485.
Ind. Stone
69,328
111.,
& ILLINOIS MIDLAND RY—Owns Compro,
to
Taylorville, 28.4 miles.
Stock auth., $2,000,000; outstanding.
(par of shares $100), all owned by Commonwealth Edison Co.
$2,500,000; see table above.
Equipment trusts June 1 1917,
monthly.
Year ending June 30 1916, gross, $290,099 net,
income, $118,511; interest, taxes, Ac., $202,641; balance, surplus,
For calendar year 1917, gross, $355,063; net. after taxes. $33,810.—
CHICAGO
Dec.
1,700,000
Sprague2d,
Hurley, Chicago, 111.;
G. W. Wattles.
St. Joseph: C. T.
A. Spoor, A. A.
Minneapolis.—(V. 112, p. 1518, 1969.)
Jaffray,
$471,653
$3,406,271
income
Deficit
2,139,587
shows:
'
,
Clyde M. Carr, Chas. H.Thorne, E. A.Cudahy.E. N.
Charles Steele, New York; E. F. Swinney, Kansas City;
Omaha; E. C. Finkbine, Des Moines; Milton Tootle Jr.,
(1)
$5,818,119 $23,889,976 $22,128,189
$5,909,466
377,751
Gross.
(2)878.532
Sec., W. G. Lerch; Treas., J. F. Coy
Gas Building, Adams St. and Michi¬
gan
$651,000 temporary equipment
and $2,445,373 notas payable more than one year
Government loan, V. Ill, p. 692, 1660, 2227, 2423.
trust notes
income.$2,850,972 $2,899,408 Net
OFFICERS.—Pres., S. M, Felton;
President's office, People's
kendall.
DIVIDENDS.—Pref. stock. No. 1. Dec. 1 1915. 1%:
1916, 1%; Apr. 1917, 1%; none
July 1919,1%. V. 107, p. 2097;
to this company. 'See article on page 3.
On Dec. 31 1920, there were outstanding
-.$2,530,682
...
-
Compensation).
"1918.
account year ended Dec. 31 1919: Federal compensation
946.001; other income, $358,874; deductions, $1,310,118;
>
$868,953
1,661,729
Corporate Income Account (Based on Federal
1919.
1919
1918
Int..rents,Ac.$1,587,302
Stand, return.$2,953,450 $2,953,450
Pref. divs
(1%)439.266
Oth inc. (net) d/. 102.478
d/.54.042
come
Illinois RR. above.
ii
deductions
Total deficit
...def.$4,287,642def$2667,204sur$1338,092 sur$169,494
income statement Receivers and Federal.
Receivers' in¬
Balance
x
paid
Interest and other
$4,426,188
1,045,602
296,337
—
deducting fixed charges.
Deficit for year before
$5,577,925
1,020,360
other income,
total.
$81,613;
$21,018,985 S16.884.697
3,786,851
2,979,601
1.791,074
1,446,587
$2,628,133
944,460
977,317
Net income from railway
1916.
31 1920:
operation, $214,724;
Four months ended Dec.
(3)
385.
1917.
1919 in V. Ill, p.
xl918.
920.
1290;
f. 1st
issue).
MAT, 1921.]
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations, &c.,
see
Miles
Chicago Indianapolis & St Louis Short Line—See Cle
Chicago Junction RR—1st M $2,327,000 g red 105-XO*
Chicago Lake Shore &East—1st M g gured text__xo*
Chic Mem & Gulf—1st M g red 105—Ba.xc«&r
Chicago Milwaukee & St Paul—Com stock (see text)
Preferred stock 7% yearly not cam $116,274,900Chlcago A Lake Superior Div 1st M gold
F.xo*
Wise A Minn Div 1st M g
Fz
Fargo & Southern first mtge gold assumed
z
Ohloago A Missouri River Dlv first mortgage.F.zo*
Gen M (for $150,000,000) gold Series AwUs.xo* Ar
do
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
veland
Cincln nati Chic ago A St Lo an
1905
4 g
$1,000 $2,327,000
1909
1.000
9.000.000
52
1910
180
182
1881
1881
1883
1886
1889
1889
1889
1889
1889
1,000
1,000
1,000
1,000
1,0001
6,829
6.829
6,829
Series B registered
x
Series O gold.:
,..xc«
do
do
Series O registered
x
Milw A Nor 1st M No MIlw to Gr Bay ext 1913-xo*
Oonsol mtge extended 1913 (V 96. p 1364)._zc»
xDeb $50,000,000 g
(All securedf._F.xc*&r*
Deb 250.000,000 francs... jby the Gen. (
Usm.x
xGoId ($)bds.call at par ail |
and
|
USmxc*
Convert debs text g——IRef. Mtge. I-Us.xc*Ar»
Ch Mil A Puget Sound 1st M (text) ass..Usxc*&r*
General and Refunding M, Series A
__Gc*&r*
do
do
convert series B (see text)..-e*&r*
Bell Ingham A Nor—B B A B O 1st M assumed
Tacoma Eastern 1st M assumed gold red 110. IC.xc*
6,829
6.829
6.829
do
do
do
do
do
do
10,235
10,235
10,235
10,235
2,327
10.235
10,235
x
Secured by
100 Ac
1901
1903
92
1.000
1,000
w hichin
turn a re secure d
Equipment trusts issued to Director-General for rolling stock allocated
See article on page 3.
V. Ill, p. 1660; V. 112, p. 372.
EARNINGS—
——GrossNet, after Taxes-—1921
1920
1921
1920
Earnings Jan, 1 to Mar. 31 $3,586,941
$3,465,092
$216,923
$160,159
Government loan,
REPORT,-—For fiscal year ended Dec. 31
Years ending Dec. 31—
1920.
1919.
133,907
Dividends, Ac., received
Total net income_
1920:
1918.
$12,355,82
$11,01.,274
1,094,704
1,333,253
1,620,000
1,620,000
109,505
113,372
191 (.
$9,161,898
2.235,642
~2~IQM2
,127,313
$1,039,181
1,222,025
$1,729,505
$985,667
300,179
$1,733,372
$996,345
137,670
*$2,452,614
Surplus for divs.—def.$1,133,892
on preferred (4%).
199,652
on common
(1^%)170,571
$685,488
199,652
$599,357
$800,096
199,752
(3^)341,146
Interest
on
Rentals,
—
bonds
Ac
-
*$
Div.
199,652
Div.
$1,005,816
646,702
■
*
Net income for 1920 includes Standard Return (2 mos.), $270,000, and
"6 mos.* guaranty period, $815,249.
OFFICERS.—Pres., H. R. Kurrie, Chicago; V.-P., Fred. Zimmerman,
by the Ge
A
A
A
A
A
Q—J
J
3*g
A
3 H g
O—J
A
J
Q—
A
D
J
A
X)
4 g
4
J
A
J
J
A
4
J
A
4" gj
{
A
g
Maturity
Sept
Sept
July
July
A
}g
4 g
and
Moh 11945
Junel 1969
Jan 11940
A
tr J
1 '17, 2
1 '17, 3H
1 192i
1 1921
Jan 1 1924
July 11926
May 1 1989
May 1 1989
May 11989
May 11989
May 11989
May 11989
June 11934
June 11934
July 1 1934
D June 11925
D June 11925
D Jnnel 1932
Jan 1 1949
O Jan
_
A Jan
A
£g
A
1
D
1 2014
1 2014
Deed 1932
J Jan
1 1923
J A J15 Jan 15 1935
MAS Mar 1 1930
A
68
n.
A
A
15,348,200
20,000,000
to this company.
Gross earnings
$13,611,131
Net (after taxes, Ac.).— def.91.842
Standard return
*
f
29.129,800
484,000
803.000
1920
1920
...__
pledge of Frencn loan debentures,
8.950,000
1,000 142,597,000
1.000
1,000
2.117,000
1,000
5,072.000
1,000 Ac 33,286,000
500 fr Ac 12,512.830
1.000 Ac 35.100,158
100 Ac 49.980.800
100 Ac 26,175.000
100 Ac 43.089,000
1915
67
Equipment gold notes due $1,096,300 annually.__G
U S Government note......
1,0001
1.000/
1889
1913
1913
1909
1910
1916
1912
1909
1914
118
414
...
1,000/
Last Dividend
A
5 *
735,000
117,406.000 See text
115,845.800 See text
1,360,000
£g
4,755,000
§g
1.248.000
6 g
3.083,000
5
48,241,000
100
100
117
78
M
jH g
1.000
Series A registered...»_x
Series B.„.—
...xo*
do
-
Date
Road
•
notes on page 6]
37
A Ref
Places Where Interest and
Dividends are
Payable
Harris Forbes A Co Ohio
71 Broadway, New York
Bankers Trust Co, N Y
N Y Office 42 Broadway
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Paris and London
N Y office 42 Broadway
do
do
do
do
do
do
San Francisco
do
do
Ohicago
Mtge.
HISTORY, AO.—Organized May 5 1863 and
on Feb. 11 1874 took pres¬
The Ohicago Milwaukee A Puget Sound Ry., forming Pacific
acquired in fee Jan. 1 1913, its bonded debt being assumed;
the stock ($100,000,000) is held alive merely as a muniment or title.
Y.
96, p. 62; V. 95, p. 1683: V. 97. p. 819.
In Dec* 1918 took title to the railway franchises, Ac., of the following
companies, all of whose outstanding capital stock were owned by it: Tacoma
Eastern RR. Co., Puget Sound A Wfllapa Harbor Ry. Co., Seattle Port
Angeles A Western Ry. Co., Bellingham A Northern Ry. Co.. Milwaukee
Terminal Ry. Co., and Gallatin VhlTey Ry. Co.
V. 108, p. 2017.
The stockholders on May °21 1921 approved a proposition to lease the
Chicago Terre Haute A Southeastern Ry. Co. for a term of 999 years from
July 1 1921, with option to purchase the leased property.
By the terms
of the lease this company guarantees as rental for the use of the leased prop¬
erty the payment of the annual interest on the bonds and securities of tne
Southeastern Company, amounting to approximately $900,000, together
with the annual taxes, approximately $235,000.
This company further
agrees to purchase any or all of the 40,000 shares of the outstanding stock
or the Southeastern Ry. at $10 per share, and agrees to assume the out¬
standing securities, amounting to about $19,000,000, the bulk of which
mature in 1951 and 1960.
(See terms of lease under Chic. T. H. A S. E.
Ry. in V. Ill, p. 2519.)
f
ent name.
extension,
was
,
Federal
compensation] $27,844,327.
settlement
of Federal
in cash and the funding for ten years
for additions, Ac.
The adjustment
The U. S. RR. Administration in Nov. 1920 reported a final
with the company of all matters growing out of the 26 months
Chicago; Treas. A Asst. Sec., Byron Cassell, 608 So. Dearborn St., Chicago
Sec. A Asst. Treas., C. E. A. McCarthy, 52 Broadway, N. Y.—(V. 112,
p: 372.)
■
.7,
control by the payment of $13,750,000
of $20,000,000 due from the company
CHICAGO JUNCTION RR.—Owns 3.61 miles of elevated track, con¬
necting South Side Elevated RR. with the stock yards.
Leased to that
company for 50 years (with right to purchase at cost within 20 years) at a
rental covering bond interest and all expenses.
Capital stock. $50,000
Bonds are guaranteed, prin. and int., by Chicago Junction Rys. A Union
CAPITAL STOCK.—The pref. stook has a prior right over the com. stock
«o a dividend of not over 7% from net earnings in each year, but if not
sarned it has no cumulative right.
After 7% on com., both share pro rata.
Stock Yards-Co.;
guaranty,
V.
they are subject to call at 105 after 1910.
82, p. 568.
Form of
was
made
Equipment; trusts issued to Director-General for rolling stock allocated
See article on page 3. Govt, loan, V. Ill, p. 791.
:
to this co.
CHICAGO JUNC. RYS. & UN. STK. YARDS.—See "Industrials."
In
Oct.
to
CHICAGO LAKE SHORE A
EASTERN RY.—Embraces 487 mile* of
track, connecting the various works of the Illinois Steel Co. and Indiana
Steel Co. at Chicago. JoUet. Milwaukee and Gary with diverging trunk Uses,
and
also
with
steamship
tines,
stone
quarries. Industrial establishments.
and Ind., and Joliet, HI.
Stock.
Ac.; also reaches the coal fields of 111.
$9,000,000, all owned by the Illinois Steel Co., and so by the U. S. Steel
Corp., which, with Elgin Joliet A Eastern guar, the bonds, prin. and int..
by endorsement.
The last named leases the road for 60 years from lune I
1909, rental covering all charges and divs. on stock, dependent on er/nings.
See V. 90, p. 108.
Dlvs. paid In 1910, 5%; In 1911, 5% and 2% extra.
T2-'13, 10%; 13-14. 7%; *14-15, 15%;l£'i6. 10%; 16, 10%; 17. 8%;
*18,10%; 19, 10%.
Bonds are redeemable In whole or In part from Dec. 1 1919 at 110 and int.,
they are limited to $20,000,000 and further Issues of bonds beyond the
•9,000.000 now outstanding can be made only for 50% of oost of property
V. 88. p. 1372: •«* 89, p. 224.1410.—(V. 81, p. 1446; V. 103, p. 1301.)
MEMPHIS & OULF RR.—Owns Dyersburg, Tenn.. to
Ky., 52 miles.
Stock, common. $520,000 and 8% cum. pref..
$150,000. all acquired in 1913 by Illinois Central RR.
V. 96. p. 716
A dividend of 8% was paid from the earnings of 1910-11 and credited
towards payment of pref. stock.
Dlvs. on pref.
134% Oct. 1 1911
1912,6% (Q.-J.); 1913. Jan., 1M%.
None since to May 1921.
Bonds ($10,000,000 auth.) outstanding Aug. 31 1919, $735,000; reserved
for terminals, Ac., $1,750,000, and remaining $7,515,000 at not to exceed
85% of cost of new Construction, nor over $20,000 per mile main line. V. 90.
p. 108. 302; V. 91, p. 153.
For cal. rear 1918: Standard compensation,
$45,699; others income, $3,587; gross income, $49,286; interest, $37,800;
other charges, $19,192; balance, def., $7,706.—(V. 96, p. 419.
CHICAGO
Hickman.
CHICAGO MILWAUKEE & GARY RY.—See page 139.
CHICAGO MILW. A PUGET SOUND RY.—See Chic. M. A St. P
RR
CHICAGO MILWAUKEE & ST. PAUL RY.—Operates from Chicago
westerly to Seattle and Tacoma, Wash., with numerous branches:
Road—
Miles. I
Road—
Lines owned Dec. 31 1920 (of
|2d, 3d & 4th tracks
which 109 m. owned jointly)10,268|Trackage(incl.2d A 3d
In
Miles.
1,185
tracks). 435
1916-17
built from Great Falls to Agawam, Mont., 70 miles, and
Partly built, Blackfoot June, to Clear¬
water, 22 miles.
The electrification of 440 miles of the Puget Sound main
line, contracted for in Jan. 1913, was completed in Feb. 1917, and having
Grass Range to Winnett, 23 miles.
proved very successful, is being extended over the Cascade Mtns.
The
electrification of the line between Othello and Seattle and Tacoma. 219 m..
commenced in March 1917, has been completed. V. 104, p. 451. 1489, 2116
See V. 96. p
135; V. 97, p. 1821; V. 101, p. 845; V. 103, p. 1687; V. 105
p.|1998;|V. 106. p. 2005; V. 107, p. 802; V. 108, p. 682.
1 '95 '96. *97-'00. *01. '02-11. 12-'l4. '15-16. *17.
.._«%)
2
4
5 y'ly
6
7 y'ly
5 y'ly 434 5
4J4
1920 no dividends had been paid on either stock since Sept.
The pref. shares received 7% per annum continuously from
1917,
Sept.
but
are
1867
non-cumulative.
BOND8.—The 99-year General and Refunding Mortgage of 1913 Is an
and not limited to any specified amount, but the bonds at
time outstanding are limited to three times the outstanding stock, now
amounting to $233 251 890.
When the amount of bonds issued thereunder
(bearing Interest not in excess of 6%) reaches $696,000,000, further issues
nust be limited to 75% of the cost of property placed under the mortgage.
The mortgage Is secured by a direct lien on all the properties, including
about 10,180 miles directly owned, 109 m. jointly owned, terminal proper¬
ties In Ohicago. Milwaukee. Seattle. Tacoma. Spokane A other cities, and
open mortgage
any
the entire
to retire
CHICAGO KALAMAZOO & SAGINAW RY,—See Mich. Central.
of Nov. 1 1920-
DIVIDENDS.—
)ncommon
1917.
CHICAGO JUNCTION RY.—Owns inner line within the
Chicago
Union Stock Yards district. 11.81 in.;
ide and industrial tracks. 118.58 m.
In 1907 New York Central Interests acquired the outer belt line, assuming
the $2,500,000 bonds, and in Dec. 1920 filed application to lease, operate
and ultimately purchase the company's terminal properties in Chicago.
V. 112, p. 62.
Compensation for'Government operation, $916,804; com¬
pany's other income (1918 basis), $15.000.—V. 97,p. 694.)
as
equipment, subject to $179,673,000 prior liens ($18,331 p. m.)(
which
an
equal amount of bonds is reserved, $132,007,200 being
also reserved to retire debentures and convertible bonds, which are equally
•ecured thereunder. None of the prior Hens may be extended and no further
amounts
issued except gen. M. for refunding purposes, so that eventu¬
ally the Gen. and Ref. bonds will become an absolute first lien.
Further
oonds may be issued for improvements, betterments, acquisitions, construc¬
tion, equipment, &c.t Of the bonds. $154,489,500 have been Issued In ex¬
change for Obic. Milw. A Puget Sound 1st 4s (leaving only $26,175,000 of
outstanding).
On Dec. 31 1920 the treasury held available $117,217,200 of the new bonds Issued for said exchange and against impts., Ac.
V. 104, p. 451. 1701, 2640; V. 100, p. 307; V. 97. p. 1662, 1583; V. 98, p.
73, 303, 386, {244, 1315, 1766; V. 99, p. 1450.
'
The $29,089,700 Gen. A Ref. Mtge. bonds Issued In 1915 are convertible
Into common stock at par for 10 years beginning Feb. 1916.
V. 100, p.
139, 228, 307. 811, 900. 981; V. 101, p. 287.
the latter
,
Abstracts older mortgages, V. 45, p. 114, 144, 212; V, 48, p. 830.
The General mortgage of 1889 (see abstract In V. 48, p. 830; V. 96, p. 1088,
1156; V. 97, p. 175, 520: V. 98, p. 386: covers the entire railway property
and franchises of the company (therein described), subject to prior
which are paid as tbey mature.
V. 89, p. 1279, 1541, 1596,1667; V.
liena
103,
1114.
Milw. A Nor. RR, consols, see V. 107, p. 2097.
The $33,286,000 4 % 25-year debs, of 1909 are secured by new Gen. and
Ref. satge.
V. 88, p. 1559; V. 89. p. 1223. 1346.
•
•
In May 1910 sold to a group of French banks 250,000,000 francs 15-year
4%debentures, equally sec. by General and Ref. Mtge.
V. 90, p 1424,
1489,1554; V. 91, p. 38, 1710; V. 98, p. 303.
Dollar bonds were issued in
1915-16 to replace 4% 15-year French loan bonds when ard \s surrendered
by owners.
These bonds are secured by an equal face value >f the French
bonds (which in turn are secured by Gen. A Ref. M. of 1914 equally with
other bonds), on the basis that 500 francs equal $96.3533*
102, p. 344;
V. 101, p. 2143: V. 102. p. 1625.
'
The $49,980,800 4H% debentures of 1912 are convertitls at par into
common stock after June 11917 and prior to June 1922, at the option of the
holders, within 10 days after any dTividend shall become payable on the
common stock and redeemable at 105 and Int. after June 1 1922 on 90 days
notice.
They are secured by new Gen. and Ref. mtge. V. 94, p. 1056,
1118.1565
V. 95. o 744. 1472* V. 97 p 364: V 98 p. 303, 452.
Of the $181,664,500 Chic. Milw. A Puget Sound Ry. 1st 4s assumed on
purchase of road, $27,175,000 were sold and $154,489,500 were exchanged
p.
for G. M.
A St. P. Gen. A Ref. bonds and deposited under that mortgage.
V. 92, p. 593, 659. 725, 1374; V. 93. p. 1386,4§8; V. 94. p. 767.1185; V. 98,
p.
1692.
Bonds
cover
road, terminals and equipment, and run to maturity.
The $25,334,000 Chic. A Pac. Western Div. IstM J5s, due Jan. 1 1921,
paid off at maturity with the proceeds of a Govt. loan.
V. 111, p .2423.
Government loan, V, 111, p. 791, 2323. 2423; V. 112. P-
were
.
Equipment trusts issued to Director-General for rolling stock allocated to
See article on page 3.
Jan. 1-Mar. 31
—Jan. 1 -Dec. 31
EARNINGS.—
1921.
1920.
1920.
1919.
Gross
$33,733,582 $38.898,509$167."71,9471150.370,394
Net after taxes.._...def.$1,506,373def.$728,483 def.$84,620
5,362,271
this company.
,
W
MAP OF THE
QC
CHICAGO & NORTHWESTERN
RAILWAY
SYSTEM.
iChicago & North-Wesfam Railway
iChicago St.Paul, Minneapolis & Omaha Ry*
a
I
zn
O
o
W
00
w
o
b
00
r<
to
*
U
V
MAT, 1921.]
RAILWAY STOCKS AND
RAILROAD COMPANIES
[For abbreviations,
Ac.,
Chicago & N W—Com stock $177,539,880 auth
Date
Par
Amount
Rats
When
Last
Dividend
Road
Tr
Preferred stock (not cumulative) see text
Milwaukee Lake Shore & Western—
Bonds
Valus
Outstanding
%
Payable
and
Maturity
7,927
7,927
Tr
1884
Ashland Division first mortgage gold
Ce.zo*
Ext A Imp M for 55,000.000 g s f not drawn Ce.zc*
40
1885
693
40
1892
dink fund bds of
79 if 15.000 p m) red 105-F.vcAr
Sinking fund debentures 1933
Un.zc*Ar
1,041
Gen
*20.000.000
4s
gold bond M
do
($20,000
$165.000.000
do
do
do
do
do
•
do
do
dn
Secured
x
gold bonds
5.038
5.038
5,038
5,038
5.638
and y registered-,
yo*Ar
Ce.xc*Ar*
3
-
-
do
do
Us.xc*Ar*
Milw A State une 1st M g sru (V as, p 230)_F.xo*Ar
N W equip tr 1912. Ser A. $300,000 ylyF.zc*
do
closer. B$300,000 yrly
-
50
do
do
ser.
1897
1897
1897
1906
O $400,000 yrly see text-F.zc
do
do
Serial notes
1.000
15 Jan 15 1921 3H
do
do
do
do
J
90
Minn
119
26
Princeton
105
1899
1899
1901
1901
A la Ry 1st M gold $10,000 per mlle_F.zo*Ar
Mankato A New Ulm 1st M gold $410.OOO-Fzc* Ar
A Northw 1st M $2,100,000 gold.F.zo&r
Peoria A Northwest 1st M $2,125,000 gold.F.zoAr
85
125
Sioux City A Pacific 1st M gold $4,000,000-F.zo&r
Minn & So Dak 1st M gold $528.000
F.zo*
33
195
Iowa Minnesota A Northwestern 1st M g __F.oz*Ar
Mil Snarta A N W 1st M g $15,000,000 guFxo*Ar*
Des Plalnes Valley Ry 1st M $2,500,000. F.xc*Ar*
179
do
do
do
do
MAN Nov 1
00v
do
do
do
ao
do
J
M
J
J
600,000
600.000
fl .196.000
9.308,600
700.000
Ac
A
J
Manit Gr BayANWlstM g gu (V88, p230)F.zo* Ar
Paul East Gr Trk 1st M g gu
xc*Ar»
114
St
StLP&NWMg
guar (V 97, p 1203)
Frem Elk AM Voons M $25,000 per mile
Wisconsin North 1st M_
c
all In
s.
f.;
all in
e
s.
f.; f $4,000:
REPORT.—For 1920, in V.
g
$1,000.
112, p.
Total
h $18,0
1.170
oo.o5o
1859, showed:
Calendar Years—
1920.
Average miles operated
Passenger earnings.
Freight earnings
Mail, express, Ac., earnings
60
115
__F.yc*r*
assumed
1919.
1918.
10,623
10,647
10,303
$31,033,594 $30,391,921 $23,492,031
117,183,815 106,288,453
96,623,658
19,941.324
13,690,020
12,778,766
_
earnings
$168,158,734S150,370,394$132,894,455
$23,144,811 $18,906,980
40,422,005
38,069,987
88,001,910
70,395,926
61,985,593
Maintenance of way and structures. .$28,810,633
Maintenance of equipment..
41,557,151
___
Transportation and traffic
—_
Taxes..
11,872,832
6,327,426
Miscellaneous
Net earnings..
,
$4,512,415
27.946,771
30,249,011
16.767,186
f31,128,294/ 27,945,820
\
Deduct—Interests
Hire of equipment
Rents paidMiscellaneous-1
U. ±
Expenses prior to 1918 (net)_____
Preferred dividends 11%)-_
6,185,935
3,233,546
$5,501,692
def$8,411,219
___
Federal compensation
1
Total net income, incl. Mmiscell."__J
_
6,306,997
4,598,963
19.834,392
3,874,141
1,171,883
808,410
1,073,446
_______
31,733,534
18,059,350
1,317,711
1,656,349
-
_
4,713,428
5,583,965
Common dividends
Balance,
surplus
t Includes
Fed,
comp.
$22,250,811; railway
oper,
$4,366,070
$7,643,045
$6,241,510
for 2 mos., $4,640,721; Govt. guar. (6 mos.),
income (10 mos.), $1,372,519; and other income.
OFFICERS.—Pres., H. E. Byram; V.-Pres., R. M. Calkins, E. D.
Sewall, B. B. Greer, George G, Mason, H. B. Earling; Treas., A. G. Loomis,
Chicago; Sec., E. W. Adams, Milwaukee; Compt., W. V. Wilson, Chicago.
Directors.—William Rockefeller, Samuel H. Fisher, Donald G. Geddes*
Mortimer N, Buckner, W, E. S, Griswold, George G. Mason, E. S. HarlcSamuel McRoberts, New York; J. Ogden Armour, Stanley Field and
A, J. Earling, H. E. Byram, of Chicago, and L. J. Petit of Milwaukee.
N. Y. office, 62 Broadway.—(V. 112,
p. 161, 469, 743, 1023, 1143, 1518,
1616. 1859, 1976, 2189.)
J
A
J Jan
A
A
J
A
A
CHICAGO
&
NORTH
WESTERN
RY.—(See
Road owned in fee—
Main lines, Ac
Entire stock owned—
Miles.
7,919
Pierre R.C.&N.W
Wolf River Valley
De Pue Ladd A East, (leased)
Belle Fourche Valley (leased)
2
J July '21-'23
1.440,000
1,904.000
c410,000
2,100.000
2.125.000
J
A
D Deo
J
A
D June
A
A
O Oot
J
A
J Jan
M
A
Mob
4,000.000
528,000
F
A
Aug
J
A
Jan
J
A
Jan
M
A
Moh
J
_
3
_
__
24
Macoupin County Extension._
4
James Riv A Nor West(leased)-
39
14
Iowa Southern
Second
track—
923
Also has large Interest In Chic.
St. Paul Minn A Omaha
1,749
Throughpassenger service between Chicago and Pacific coast Is main¬
V. 93, p. 1667; V, 94. P> 697.
tained via Union Pacific.
r
HISTORY, Ao.—A Vanderbllt line (V. 75,
D.
1086) organized in 1859.
CAPITAL STOCK.—Of the com. stock. $2.342,512,and of the pref. $3.additional to amounts shown as outstanding in table above were in
834
treasury on Dec.
31
1920.
$65,000
special stock.
3%: then com.
451. 863.
then pref
104.
p.
Dec.
31
common
1919
U.
P.
There
system
(Oregon
DIVS—
Short
Line)
owned
$4,420,600
) '95. '96-'99. '00.
)
1901.
1902-Jan '20 July '20 to Jan. '21
4
5 y'ly
0
0
7 yearly
2H semi-ann.
-—7 yearly
—X v'lv3H semi-ann.
In Mar. 1920 it was announced that dlvs. in future would be considered
Preferred
_
_'
half-yearly.
Com. div. reduced from 7% to 5% basis and pref. div. from
8% to 7% basis in July 1920V. 110, p. 2487.
BONDS.—General Mortgage.—See Abstract in V 05, p. 1175.
Author¬
ized issue is $165,000,000 (U. S. Trust Co., trustee.)
V. 65, p. 69. Ill,
571; V. 75. p. 980; V. 88. p. 280, 563.
In Dec. 1920. there was outstanding
$31,316,000 Gen. 3Hs, $30,554,000 4s and $28,472,000 5s. V. 107, p. 2289.
Of the balance of $74,658,000 bonds, $60,303,000 were reserved to retire
$41,332,000 prior liens and the debentures due in 1921 and 1933, and the
remaining $14,355,000 bonds were reserved for Improvements or additions
including equipment, but not exceeding $l,0OO,0OO in any one year.
In
March 1921 $18,000,000 5s were pledged as security for $15,000,000 6M %
bonds {s0G below)
Outstanding Generals are free from all taxes except $8,054,000 4s, and
$28,472,000 5s stamped "Federal income tax not assumed by Co." V. 91,
p. 1385; V. 80, p. 1489; V. 92, p. 117, 1178; V. 93. p. 1667; V. 98, p. 1459.
1536, 1608, 1993; V. 99, p. 1748; V. 100, p. 1078; V. 102. p. 608; V. 103.
p. 493; V. 106, p. 2756; V. 107, p. 2289; V. 108, p. 877.
The Slnkino Fund bonds of 1879 are secured by
deposit In trust of $12,860,000 of 1st M. bonds at $15,000 per mile on subsidiary lines, the most Im¬
portant being described 1* "Supplement" of May 1894
Of the sinking fund
bonds of 1879, $5,050,000 are 6s; the sinking
fupd Is at least 1% of out¬
standing bonds, which are subject to call at 105, and through Its operation
those outstanding have been reduced from $15,000,000 to amount In table
The Extension bonds of 1880 are secured by deposit Intrust of first mort¬
gage bonds at a rate not exceeding $20,000 per mile.
Included in the collat¬
eral July 1 1916 were $10,675,000 Fremont Elkhorn A Mo. Valley lata and
$2,560,000 Wyoming Central lsts (consolidated with F. E. A M. v.), Ao.
The Fremont Elkhorn A Missouri Valley consoh have a first lien on 1,241
miles (Fremont, Neb., to Deadwood. 8. D., and branches to Hastings.
Albion. Ac.); but besides the amount of Issue given as outstanding in the
table. $10,675,000 (along with $2,560,000 Wyoming Central firsts, a F. E.
A M. V. Issue) are held as part collateral for Extension bonds of 1886.
office, 111 Broadway
do
do
do
do
do
do
'
do
do
do
do
do
do
do
do
do
-
do
do
do
A
J Jan
1 1941
do
do
A
J Jan
1 1947
do
do
J July 1 1948
O Oot
t 1933
do
i
A
A
A
do
do
do
do
July 15 1931
do
due Mar ch 1 1936.
Issue
Series
"E"
Series
Issue
1913—
"D"
Series
"F"
1917—
$1,200,000 Series
2,910,000 Series
"G"
"H"
Series
"I"
805.000
$2,954,000
2,800.000
1,602,000
.
In May 1921 the company issued $5,436,000 6^% equip, trust gold
certifs. as follows: $2,232,000 Series "J" dated March 1 192' and due
i:
)21
$2
" ~
$186,000 annually March 1 1925 to 1936, inclusive; $3,204,000 Series "K,'
dated April 1 1921 and due $267,000 annually April i 1925 to 1936, Inclusive.
V. 112
p. 2082
2189.
The $i5,000,600 15-year 6bonds due Mar. 1 1936 are secured by
deposit of $18,000,000 gen. mtge. 5% gold bonds due Nov. 1 1987.
Pro¬
ceeds were used to retire $10,000,000 debentures due Apr. 15 1921 and
$5,000,000 Milw. L. S. A W. 6s due May 1 1921, which were provided for
under the gen. mtge,
V. 112, p. 652.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
COMPENSATION
CONTROL.—The
FEDERAL
UNDER
contract
with the Government for the operation of the property was
approved and
finally signed in Oct. 1918, allowing the company a compensation of $23,201,016 annually, with $163,013 additional to affiliated cos, V. 108, p. 1942,
877; V. 107, p. 1191. 1669.
Jan. 1-Mar. 31
EARNINGS.—
Gross
1921.
1920.
Jan. 1 -Dec. 31
1919.
1920.
$34,800,027 $36,127,270$165,029,624$139,589,915
def.$1,095,701 def.$647,614
$3,234,231 $14,245,619
_____
Net after taxes__
REPORT,—For fiscal year ending Dec. 31 1920, in V. 112, p.
xl920.
1919.
Operating revenues
Net, after taxes, Ac
Accrued Federal compensation
Dividend income.
Gross Income.
$23,811,562 $25,493,023 $25,453,677
.^825,413 $2,236,581 $2,164,860
8,816,106
9,273,859
10,440,293
111,480
86,602
1,791,600
1,791", 600
1,567,650
10,160.675
10,160,675
7,257,625
Rentals,f Ac
on
funded
1918.
__
Other income
Interest
1760:
$140,755,628$139,589,915$127,295,678
$699,652 $14,245,619 $12,272,956
*20,312,184
23,201,016
23,201,016
1,321,244
1,020,460
1,026,130
1,478,482
1,271,547
1,236,532
deSt
Sinking funds
Preferred dividends
Common dividends
also
stock.
Common
7*
1
Mch 1 1947
MAS
~
V.96.p.201. 789; V.97,p.l203; V.98,p.999; V.99,p.829; V.100.p.l671.
The stockholders on April 14 1920 authorized the
creation of a new First
Refunding Mtge. and the absorption of eleven proprietary companies,
all of whose stock is now owned by the company.
The new mortgage will
be a first lien on these properties and bonds are to be dated May 1 1920.
Compare V. 110. p. 561, 969.
*
The $15,000,000 10-yr. 7% bonds due June 1 1930 are secured by deposit
of (a) $15,000,000 Chicago A North Western Ry.New 1st A Ref.Mtge.6%
gold bonds, due May 1 2037; (5) $2,500,000 Chicago A North Western Ry.
Gen. Mtge. 5% gold bonds due Nov. 1 1987.
V, 110, p. 2487.
Equipment trusts held by co. and due from trustees in Dec. 1920:
outstanding Dec. 31 1920,
Pref. stock has prior right to 7%; then com. 7%;
3%; then both classes share.
V. 89, p. 1482; V.
was
Farmers L A Tr Go, N
do
do
do
do
July 1 1921-27
11923
1 1924
1 1929
1 1926
1 1920
1 1930
1 1935
1 1935
1 1947
'
A
165
Wyoming & N. W__
148
Sundry trackage (V. 108, p.1942)
77
v
do
In Feb.191 3 $1,120,000 St. Paul Eastern Grand Trunk Ry. guar. 4J4s, and
In Oct. 1913 $10,000,000 St. L. Peoria A N. W. Ry, guar. 5s (assumed).
Miles
2
Pierre & Ft. P. Branch
1941
July *21-1922
A
J
19*7
J15 Jan 15 *22 to '35
&
Map.)—Operates
regions of Michigan and the Black Hills, 8,402 miles, Dec. 31 1920, viz.;
1
do
do
do
Go's office, 11 IB*way,NY
Oct '21-1922
O
'
.
do
Milwaukee Sparta A Northwestern Rt
Ry. 1st M. bonds (assumed in Apr
V. 94. p. 416. 1056, 1185.
1912). road merged In O. A N. W.
v.
410, 1050,
in Jan.
In Jai
1913 sold $2,500,000 Des Plalnes Valley Ry. (assumed March 1913) and
ness,
system of roads uniting Chicago, III., with Omaha, Neb.; St. Paul, Minn,
with the great wheat belts of Dakota, Nebraska, Ac., and with the mining
do
do
D June 11930
S Mar 1 1936
A
J
3.900,000
15,000,000
1912
2.500,000
1906
3,750,000
1913
1,000 Ac
1,120,000
1913
1.000 Ac 10,000,000
1883
1.000 g7.724.000
1896
e$440,000
additi onal p le dged for
6j^
1912
do
do
1,000Ac
1,000 Ao
1,000
1,000 Ao
1,000 Ao
1,000 Ao
1.000
1,000 Ac
1,000
1.000 Ac
1,000 Ao
1901
1900
1900
do
do
MAN Nov 1 1987
Nov 1 1987
Q—P
1,000
1898
do
do
MAN Nov 1 1987
Nov 1 1987
Q—F
Branch Line Bonds Assumed
Boyer Valley Ry 1st M g $10,000 per mlleF.zc*Ar
B'way,NY
do
A
30.554,000
1.000 Ac
1.000 Ac
1912
1912
1920
1919
J
A
A
O Oct 1 1929
MAN May 1 1933
F 15 A A Aug 15 1926
1,000 Ac h2S 472.000
500 Ac
15.000,000
500 Ac
15,000,000
1.000 Ac
2.500.000
1920
J 15 Jan 15 1921 2H Go's offloe 111
A
10.127,000
8,376,000
18,632,000
31,316,000
Ao
Ao
1000 Ac
1897
Where Interest and
Dividends are Payable
July 1 1924
J
3,858,000
400,000
1.000Ac
1.000Ac
1897
Places
MAS Mch 11925
F
A
A Feb 1 1929
A
A
O Oot 1 1922
1.281.000
1.000,000
1000 Ac
1912
__
J A
1,000 Ao
1921
"
J
text
1,000
1.000
11886
Us.xc*&r
registered-_x
'
x and y o*
do
do
do
1879
1883
pm)_Un.zcAr
text
see
1,000
1.000
1,000
1,000
1889
Marsh Ext l«t M $600,000 (515,000 p m)_Un.zo*
New first A refunding mortgage—see text
see
100 $22,395,120
82
Extension
$100 145.152.500
v
Michigan Dlv 1st M (for $3,UOO,000) gold__Ce.zc
:
39
Miles
notes on page 6]
see
BONDS
Balance,
*
surplus
$3,633,979
$2,030,307
$2,418,956
Includes compensation for 2 months,
6 months' guaranty,
Mar. 1-Dec. 31.
$16,509,185.
x
$3,802,999, and amount due under
Covers operations for 10 months
OFFICERS.—Marvin Hughitt. Chairman; Pres., W. JET. Finley. Chicago
V.-Ps., S. A. Lynde, A. C. Johnson, Marvin Hughitt Jr.; General Counsel,
Sec., J. D. Caldwell, Chicago; Treas., A. S. Pierce, 111 Broad¬
New York.
J. B. Sheean;
way,
Directors,—Marvin
Hughitt
(Chairman),
Chicago;
F. W. Vanderbilt,
Harold S. Vanderbilt, Chauncey M. Depew, W. If. Vanderbilt, N. Y.;
Cyrus H. McCormick, Chauncey Keep, W. H. Finley, James B. Sheean,
Chicago; Henry C. McEldowney, Pittsburgh, Pa.; David P. Kimball,
Gordon Abbott, Oliver Ames,
Boston; Edmund D. Hulbert, Chicago;
Childs Frick, Samuel A. Lynde, Marshall Field.—(V. 112, p. 61, 2o6, 561,
652, 743, 1023, 1143, 1282, 1518, 1616, 1739, 1732. 1760, 2082.)
CHICAGO PEORIA A ST. LOUIS RR.—ROAD.—Owns from Pekln to
Iranlte City, 111., 179 miles; Granite City to Madison, 2 miles; Madison to
bridge Jot., 3 m.; Havana to Jacksonville, 111., 42 ra.; branch. Lockhaven
to Grafton, 8 m.; total owned, 234 m.; trackage, Pekln
to Peoria, 9 m.;
lines operated, 1 m.; other trackage, 2 m.; total, 247 miles.
Successor, per plan V. 89, p. 285, 1541, of railway foreclosed Nov. 18
1.
1912.
V. 96. p. 135.
On July 31 1914 Pres. Bluford Wilson of Springfield,
,
111., and William Cotter of St. Louis were1 appointed receivers.
0.
342.
Stock.
V.
99.
$4,000,000.
Borg (Chairman). J. N, BabY.. depositary. V.99.p.673, 1527,
Committee for Prior Lien 4Hs.—Sidney O.
«ock. 37 Wall St.. Sec.; Eq. Tr. Co., N.
for Gen. A Ref. M. 4Hs.—Frederick J. Llsman (Chairman).
*nd Alfred Shepherd: Graham Adams, 30 Broad St., Seer,; Bankers Trust
O0..N. Y.. depositary.
Majority deposited.
V. 99. p. 1213, 1450, 1672.
Committee
Committee for Equip. 6% Notes.—Chellis A. Austin (Chairman); J. O*
Traphagen, 115 B'way, N. Y. (Sec.); Mercantile Trust Co., N. Y.. depos¬
itary. V. 109, p. 2073.
BONDS.—Of the Gen. A Ref. M. bonds ($15,000,000 auth.), outstand¬
$2,000,000 reserved to refund prior lien mtge. bonds,
to
retire
same, and
$700,000 reserved for extensions,
equipment and improvements; $1,100,000 bear only 3% Interest for the
first six years.
The coupons due June 1914 were defaulted.
V. 99, p. 118.
ing $2,850,000.
1150,000 served
40
[Vol. 112.
RAILWAY STOCKS AND BONDS
.
MAY, 1921.]
RAILWAY STOCKS AND
RAILROAD
[For abbreviations,
COMPANIES
&c.,
see
Mites
notes on page 6]
235
235
$1,000
$2,000,000
1.000
2,850.000
295,000
1.000
765,000
100
100
74,482,523
29.422.189
25,135,800
1909
Text
1904
1919
J Dec 31'20
J Jan
1 1988
4
A
O
Apr
A
A Feb
A
A
O Oct
A
363
-
5 g
5 g
A
O Oot
1921
A
A
O Apr
1934
150,000
7 g
J
A
1,000 Ao
6
J
A
1.000
450,000
3.525,000
D June 11927
J July 1 1925
J
A
1 1949
1,000
5.411,000
5 g
5 g
MAN May 1 1952
4X g MAS Moh 1 1934
...G
-
500
Ao
1,000
£
1.000
1,000
1.000
$
A
bl2.965,000
453,600
12,687,820
2,025,000
c
132.000
2,210,000
1.323.000
7,576,100
1 000
1920
_____
1,000
1,000
1915
'
6
1,303,401
J
g
5
Un.zc*
.
0 St P M & O M $30,000,000 ($15,000 p m). Ce.zc*
do
do
oonsois interest reduced
Oeben gold $2,000,000 "stamped" g; text.Cexo* Ar*
■
*
■
U. 259.859 7 in 1920
529.000
0
1,600.000
5
24,402 000
6
1895
(1880
'
\ 1.669
1.000
1
1.000
1.000
1.000 Ac
1880
1912
Includes $55,174,000 In treasury Dec 31 1920, or pi edged
c $2,757,000 In treasury.
18.559,086 5 in 1920
1,000
as
do
do
Go's
ao
do
or
'
'
Phlla
do
do
or Europe
office, Chicago
New York and London
First National Bank, N|Y
First
Nat
Bank,
do
NY
do
v
do
do
Sept '21-Sept '25
F
A
A Feb
A Feb 21
F
A
J
A
3H
J
A
5 g
3,734 000
11,200.000
do
&J15 To Jan 15 1935
MAS
100
1880
J Jan
do
First Nat Bank,
N Y
First Nat Bk, New York
J
A
4
J July 1 1939
A
A Feb 1 1941
4H « F
MAN Nov'21-Nov'25
4H g
A
A Aug '21-Aug
4h e F
26
A
J July 21 July *27
4H g J
J
A
5 g
J July 21-July '23
100
80
V
do
1911
1912
1913
ir
'*«*
do
Central Union Tr Co N Y
$1,905,000
11,000.000
1910
m —
mm* •»
'■
First" Nat Bank," NY
New York
Ao
500
1911
■He mm
J-
3
1 1922
1 1921
$1,000
1,000Ac
"
f
Merch Nat Bank, Boat
1 1934
F
7 g
paid
not
June 1914 coup not paid
In default since 1919
3
A
3,500,000
Payable
Mch *18 coup
1902
1910
1911
686
'
Dec3l
g
6
1,000
..
a
A
Where Interest and
Dividends are
1899
113
282
Preferred stock non-cura Including scrip (see text)
Nor Wis 1st M Lake St C to near Spooner ass'd Ce.zo*
ass
J
A
J
7
Places
1877
1885
12
do
8er 1, 2 & 3 due $144,973 semi-ann
Chicago St Louis A New Orleans—See Illinois Central
Chicago St Paul Mian A Omaha—Common stock.._
Superior Short Line 1st M $1,500,000
A
J
4 C
1881
1884
998
«
^20
J
6
1919
292
Last Dividend
and Maturity
4H S MAS Mch 1 1930
J
A
D Dec 1 1939
6
MAN
1 '19 to '23
A
A
5 g
O
1 1925
100
1,000 Ao
61,581 000
500 Ac 8150115000
1,000
4,500,000
„
1898
RIA A L 1st M $30,000,000 g gu red 105 Ba.xo* Ar*
Little Rock A Hot Spg
West notes guar p & 1
St P A K 0 Short jl»—1st M g gu red i05_Ba.xo* Ar *
Eq note Ser D g $225,000 a-a (V 90,p 813. 1362) _Bax
do
Ser F g $12,000 s-a (V 93. p 939)
Bax
do
Ser G g $170,000 s-a (V 95p 1607).
Bax
do
Ser H g $441,000 ann (V 90, p 1772) .BaxcAr
...
Payable
1913
—
41
When
%
—
•
Ce.xc*Ar
I g $541,150,000 ann
Raft
3,252
(all) at par_.Ba.xc
Collateral trust 1-year notes (extended).... Ce.c*
Old Divisional Bonds, dec.—
Cedar Rapids I F A N W 1st mtge gold guar.Ce.zo
B C R A Not consol first mortgage gold.Ce.zo* Ar
Minneapolis A St Louis 1st M gold (assumed)
Fz
Rook Island A Peoria cons 1st M (V 75, p
30)_Mpz
Choc A Mem 1st M $3,750,000 assumed._GP.xoAr
Choctaw Okla & Gulf Consol mtge gold
GP.xc*
Ser
Amount
Outstanding
1911
_
do
Par
Value
1900
mm.*
•
First & Ref M $103,000,000 g
Ool Trust gold notes callable
Date
Bonds
Road
Chic Pso&St LRR—PriorlienMgcaliat 107H Eqjrc*
Gen and Refunding M J15.000.000 gold red text-.x
Equipment notes Series A due $59,000 yearly
Chic Riv & Ind—1st M gold guar p A I
MC.xxc
Chicago Rock Isl & Pac—
New common stock $75,000.000
7% pf atk call 1051 (5% cum) same pf as to assets.
6% pf stk call 102/divs after 1% on 7% pref
tGeneral (now lst)Mtge $100,000,000 gold.Ba.xc* Ar
BONDS
MAS Mch
21
'21, 2H
'21, 3 H
Offloe 111
B'way, N Y
do
J Jan
1 1930
MAS June 1 1930
J
A
D June 11930
do
do
do
■
do
D June 11930
do
do
do
do
11930
do
coll ateral.
Includes b $1,965,000 and
The Sept. 1914 coupons on Prior Lien 4Ms were not paid
promptly but
ana subsequent coupons were met about 6 months
later within the
these
period.
grace
'The Mar.
1918 and subsequent coupons remain unpaid.
Notes to Oar Trust Realization Co. for $140,132, payable on installments
out of surplus earnings.
Equipment notes (6%
Series A) of 1913. see
V. 102, p. 1625.
Int. and principal due Nov. 1 1918 were paid in July
1919; int. due May 1 1919 and principal and int. due Nov. 1 1919 are in
default. Y. 109. p. 370, 2073.
-Jan. 1—Mar. 31-
EARNINGS.—
Gross
1921.
Net after taxes
REPORT,
1919.
$628,214
def.48,754
def.$837,199
def. 484,501
sur.
$1,736,078
def.440.701
def.837.108
$53,341
248,233
$48,030
73,937
206,440
29,577
31,450
def. $831,886
def. 528,861
73,243
-sur.
Pres.,
Bluford Wilson
Springfield, 111.; Sec. & Aud., H. W.
Springfield, 111.; Treas., F. J. Wilson!—(V. Ill, p. 2515.)
Berger,
'
CHICAGO RIVER A INDIANA RR.—Owns 17.90 miles of terminal
road; Atch. Top. & S, F. trackage, 14 64 m.; P. O. C. & St. L. Ry. trackage,
7.10 m.; Ind. H. B. RR. trackage, 3.29 m; trackage through Union Stock
Yards, 15.78 m.; total operated. 58.71 miles.
Stock,
authorized,
$1,000,000;
outstanding,
$500,000; par, $100.
Chicago Junction Rys. A Union Stock Yards Co. (see Miscellaneous Com¬
panies) guarantees the bonds, prin. and int., by endorsement.
V. 101, p.
773. Dividends 1913. 8%; 1915 to 1920 6% yrly. Of the 1st 5s ($2,000,000
auth. issue), $765,000 have been sold (V. 101, p. 773). They are red. at
105. beginning Oct. 1916.
Additional bonds may be issued for 66 2-3%
of the cost of additional properties and franchises, but only when annua*
earnings are twice the interest charges, including bonds then to be issued
Federal
tract
Compensation.—$113,548
yearly
during
Federal
control
(con¬
executed).
The
.
BONDS.—General 4s of 1898.
1919.
1920.
$2,801,193
For year ended Dec. 31 1919, in V. Ill, p. 2515, showed:
Gross
Net aft. Tax. Oth. Inc. Int.,&c.
Balance.
—$1,736,078
2,147,466
2,192.288
1918
1917.
DIVIDENDS.—The semi-annual dividends of 3H_% on the 7% pref.
Btock, and 3% on the 6% pref. stock have been paid from Jan. 14
to Jan. 11921.
V. 109, p. 172; V. 108. p. 2432.
-Jan. 1- -Dec. 31
1920.
$508,019
def215,396
....
7% Pref. Stock, callable at 105.
Auth., $30,000,000, viz.: In
treas., $256,111; canceled, $321,700; balance outstanding...$29,422,189
6%Pre/. Stock, callable at 102.
Auth., $35,000,000; issued
$25,135,800
The auth. pref. stocks may not be Increased
except by vote of a ma¬
jority of each class of stock, voting separately.
V. 106, p. 2026.
committee
representing the Gen, A Ref. Mtge. bonds adopted a
resolution in Dec. 1919 requesting the Bankers Trust Co., as trustee, and
the receivers to take all necessary steps toward foreclosure. V. 109,
p. 2356.
For
1919: Compensation for Government operation,
$108,525; com¬
pany's other income, $31,655; total, $140,180: interest & other deductions,
$61,717; common divs. (6%), $30,000; bal., sur,, $48,463.
Pres., R. Fitzgerald; Treas., F. D. O'Connor.—(V. 101, p. 773; V. 107,
p. 694.) ■•••'■
7_
CHICAGO
ROCK
ISLAND
&
PACIFIC
RY.—(See Map).—The
system extends from Chicago, 111., via Omaha, Neb., to Denver and Colo¬
rado
Springs, Colo., also to Minneapolis, Kansas
with the Southern Pacific fcr Pacific Coast service.
City,
&c.
Connects
V. 66, p. 522; V. 78. p. 228:V.80,p.272.
FIRST & REFUND. 4% BONDS OF 1904 ($163 000.000 AUTH. ISSUE.)
A 1st lien (either directly or through pledge of entire issues of bonds of the
companies owning the same) on terminal property In St Paul, Minneapolis
City, new equipt. and shops at SilvP, near East Moline, 111., and
railways aggregating 1,178 miles; also a junior lien subject to existing
mortgages on all the other lines of the system of the Railway company, aggre¬
and Kansas
on
gating, exclusive of leased lines and trackage, on Dec. 31 1920, 4,669 miles,
also on the entire capital stock and leasehold interest on lines aggregating
966 miles and on leasehold Interests on 272 miles.
See
V. 78 p. 228,
234; V. 79, p. 1716, 2206; V. 84, p. 219; V. 85,
p. 98.
The deed of trust
forbids the creation of a junior mortgage without the consent of the
holders of all the Ref. M. 4s.
In Oct. 1920 the company brought suit to
have this latter clause changed.
V. Ill, p
1369.
V. 87, p 1089, 1419;
V. 88,
p 623, 822; V. 89. p. 666; V. 90, p. 108, 236, 1170, 1424; V, 91, p.
1766; V. 93, p. 1667, 1785; V 99, p. 1748. 1831; V. 100, p. 900.
Chicago A Rock Island Elevator $300,000 mortgage 5% bonds due Oct.
1924 (assumed). see V. 79,
p. 2590; V. 82. p. 750.
Rock I. Ark. & La. 1st M. 4H» (V. 90. p. 626, 699. 1161) and St. P. A
Kansas City Short Line 1st M. 4Ks, V. 92, p. 526, 593; V. 93, p. 1190; 1159;
V. 94, p. 1050; V. 97. p. 236, 1114), were guaranteed, principal and int.
Rock Island-Frisco Terminal 5s. see that co. and V. 84. p. 569, 748.
NOTES.—The $4,500,000 6%
Collat. Tr.
Notes of
Okla
323
Burlington, la., to Mlnn'p.Mlnn. 366
Vinton, la., to Watert'n, S. D.
376
St. Louis, Mo,, to Kan. City, Mo_298
Bravo, Tex. (New Mex. State line)
to Santa Rosa, N. M
.112
Glenrlo,
Tex., to Tuctimoari,
N.
M
42
v.
Limoft, Colo., to Denver, Colo.
Allerton, la., to Manly, Ia____
McFarland, Kan., to Belleville,
Kan
90
202
103
Memphis, Tenn., to Texola,
650
Springs
Eunice, La
Jet.,
Ark.,
secured by
pledge of $7,841,000 First & Rer. M. 4s. V. 108, p. 479.
The
$5,500,000 Collat. Trust 1-year notes dated Oct. 1 1919 were issued to pay
bonds of the Choctaw Oklahoma & Gulf RR. due Oct. 1
1919.
They are secured by pledge of $10,000,000 First & Ref. M. bonds.
V. 109, p. 1272.
Of the $5,500,0001-year collateral trust notes due Oct. 1 1920, $2,000,000
were paid off and the balance ($3,500,000) were extended
at7% to Oct. 1 '21.
Five-year U. S. Treasury note, due 1925, $2,000,000; 10-year U. S.
Treasury note due 1930, $7,862,000.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Govt, loan, V. Ill, p. 791, 1369, 1949, 2227; V. 112, P. 1023.
EARNINGS OF SYSTEM.—Jan. 1 to Mar. 31.
1921.
$32,847,205
3,219,980
Gross
Branch lines.
Chic. R. I. & Gulf
2,863
460
Total
Cap.
8,123
site, aft otorwd—^(V.I06P.2025)
...
Rock Isl. A
Dardanelle Ry
Rock Island Stuttgart & So. Ry
Stock 50% ownedJV, 108, p.378)
14
21
Co., 62; Peoria A Bureau Valley RR., 47.
...
-
pref. to former directors provided for old floating obli¬
gations and reorganization expenses, while the $20,000,000 debenture® of
2451, 2342; V. 106, p. 2025.
1980, 2155; V. 104. p. 451.
FULL
FINANCIAL
of Feb. 26 1919, see V.
Plan of reorganization was
2641, 2552,
In V. 103. p. 1887,
8TATEMENT TO N. Y. STOCK
108,
p.
1172 to 1174.
p.
EXCHANGE
Tentative valuation, V. 109,
p.1461.
In Jan. 1919 the company concluded a settlement of Its litigation with
the Colorado A Southern Ry. Co. respecting the Trinity A Brazos Valley
Ry., extending from Fort Worth and Dallas to Houston and Galveston,
whereby the Colorado & Southern accepted (in cash 60% of the amount
on
the contract, which, under the final decree in the Rock Island
receivership, would be payable in full in 6% preferred stock at par, such
as was paid to all other general creditors of the Rock Island.
This Involved
the payment of some $4,000,000 and the Rock Island now owns outright
a half Interest in the Trinity A Brazos Valley Ry.
and will have a per¬
manent outlet to the Gulf ports.
See "Notes" below.
V. 108, p. 378;
V. 109, p. 072.
1919.
Net
earnings
Railway tax accruals..^
Uncollectible railway rev
Operating income
Total income
Balance,
*
sur. or
Dividends
*
Years.
1917.
1918.
8,102
8,055
8,250
$
94,451,558
35,472,938
12,022,477
$
77,153,311
32,502,435
6,968,938
$
69,186,218
27,891,233
7,212,114
8,218
$
59,690,072
23,301,086
6,617,564
116,624,684 104,289,565
133,535,832 101.497,733
89,550,327
89,608,722
66,046,104
Total oper. revenue.. 141,946,973
Total opor. expenses
262
and $5,000,000 0%
replaced by $20,000,000 6% pref. stock. V. 104,
....
Total deductions.......
Vail. Ry.
ORGANIZATION.—The company at midnight on June 24 1917 re¬
sumed possession of Its property, having been successfully reorganized
without foreclosure.
The sale of $29,422,160 7% pref. stock to a syndlcat-
were
Operating Revenues—
Freight
Passenger.
Mail, express,
967
385
183
Trinity A Brazos Val. Ry
315
Per pet. lease; treated as owned—
Peoria A Bureau Valley RR. Co.
47
Leased—Keok. A D. M. Ry., 152 m,; White & Black Riv.
1912
1920.
m
Avge. mileage operated.
...
Choc. Okla. & Gulf (leased)
Rock Island. Ark.
& La. RR.
St. Paul &K.O. Short Line RR.
1920.
$33,690,885
4,078,110
REPORT.—For calendar year 1920 in V. 112, p. 1627:
Combined Corporate and Federal Income Account for Calendar
to
332
were
Valley and
They are
off the Gen. M.
Miles
Hot
Feb."TT9T9
issued in connection with a settlement of the Trinity & Brazos
Galveston Terminal Ry. litigation (see "Organization" -above).
Net after taxes
Owned in Fee (excl.trackage.) Miles.
Chicago, 111., to Ool. Spgs., Col.1,073
Davenport, la., to Terral, Okla, 832
Herington, Kan., to Texhoma,
.
8,411,141
5,894,857
15,718
15,126,950
5,046,922
8,929
14,739,238
4,998,673
11,560
23,562,618
4,345,202
24,368
2,500,565
4,444,322
15,238,287
10,071,100
12,063,739
13,830,317
9,729,005
11,373,350
12,559,142
19,193,047
20,622.243
13,095,098
def.def.10,793,964def.l,766,578def.l,185,792sur7527,145
*3,567,485
3,566,903
3,566,027
1,779,774
......
The dividends for 1920, 1919 and 1918 were paid from
after providing for all corporate charges.
ard return
balance of stand¬
>-
Federal
Contract.—Signed in Jan. 1920, fixes annual compensation at
$15,880,681, of which $14,912,379 is for C. R. I. & Pac. Ry. and $968,302
is for C. R. I. & Gulf Ry.
V. 110, p. 359.
OFFICERS.—Chairman, Chas. Hayden; Pres., Jas. E. Gorman; V.-Ps.l
L. Bell, L. C. Fritch, T.
H. Beacom (Gen. Mgr.), S. H. John¬
L. M. Allen, F. D. Reed; Sec. & Treas., Carl Nyquist, ChicagoBoard.—J. G. Shedd, M. L. Bell, James A. Patten, N. L. Amster.
Charles Hayden, James Speyer, A. C. Rearick, F. W. Scott, G. W. French.
W, Z. Ripley, Henry Bruere and P. G. Ten Eyck and J. E. Groman.
(Vi. 112, p. 372
932, 1023, 1143, 1518, 1627, 1865.)
M.
son,
,
New York office, 66 Broadway.
due
CAPITAL
Dec.
(1)
1920
STOCK.—Of
was
$75,000,000
com.
stock.
$517,478
in
Two Classes of Pref. Stock, 7% and 5%; with Same Preference as to Assets
and Sharing Pro Rata in all Dividends after Prior 1% on 7% Pref. Stk.
—Both Cumulative up to 5% from July 1 1917.
clfi-
A North Western.)—ROAD.—Elroy, Wis., to St. Paul, Minn.. 193
miles; Minneapolis to Omaha, Neb., 378 miles; other lines, 1,178 m.; total,
Jan. 1 1921. 1,749 miles. V. 69, p. 1147,
In November 1883 Chicago A North Western Ry. purchased control,
viz., $9,320,000 common and $5,380,000 pref.. and in 1910 $220.000 com.
cago
Federal
the
in the treasury.
CHICAGO ST. PAUL MINNEAPOLIS & OMAHA RY.—(See'Map
feract
Compensation.—$4,934,790 yearly during Federal control OconV. 108, p. 1944; V. 107, p. 1669.
executed).
STOCK.—Outstanding: Common, $11,559,086; preferred, $11,259,859*
Held by the oompany Dec. 31 1920, common stook and scrip, $2,844,207
preferred stock and scrip, $1,386,974.
Preferred stook has a prior right
to nun-oum. dividend of 7%, but com
is never to receive more than pref.
42
KAILWAY STOCKS AND BONDS
[Vol. 112.
MAY, 1921.]
RAILWAY
RAILROAD
COMPANIES
[For abbreviations, &c.,
Date
Par
A mo tni
Rate
When
Road
61
Bonds
Value
Outetaniing
%
Payable
Chicago Terre Haute A S E—StooK
$100
Bedford Belt first mortgage, not assumed
z
Sou Indiana 1st M g (see text) not assumed-GP.zc*
1st and RefM 120,000.000 g call 107 H--IC.xc*&r*
Income M $6,500,000 call par (cum aft 2 yrs)
Equipment gold bonds due $40,000 seml-ann
FCx
250.000
x
"~rm
d 4.244,000
100 A o
5
7,287.000
l.OOO&o
1910
1913
1913
361
361
1,000
1,000
100
100
1912
1,000 Ac
1.000 Ac
1912
100
1882
1902
Last Dividend
and
Places
Maturity
Where Interest atuS
Dividends
Payable
are
$4,300,000
1898
1901
1910
242
do
do
(locomotives) $10,000 ann
Chic Union Station—IstMg gu pAi rert.lC.yc»Ar»
Chicago Utilities—Common stock $18,794.000
Pref stock 5% non-cum $30,475,0001st M ser A g 1st Hen $20,000,000-Usrn.xc^Ar*
do
Ser B g 2nd lien $4,000.000
Usm.xc*Ar*
Chicago & Wabash Valley Ry—See Chic. Ind. 6c Lou Isville
Chicago & Western Indiana—Stook (see text)
General mortgage gold sink fundsubjtooall 105-xo
57~.83
Cons M $50,000,000 g
IC.xc'&r
t g
5 g
J July 1 1938
Feb 1 1951
&
F
&
&
D Deo
1st Nat Bk. N Y or Oh«
do
do
A
J
1 1960
do
text See text. Deo 1 1960
6.336.055 8ee
A
&
O Oct '21-Apr '23
5
160.000
J
5
&
J To July 1 1923
30.000
See text
&
See text. J
J July 1 1963
18.794.000
30,475,000
A
A
O Apr 1 1942
5 g
5.974,900
text
4.000.000 See
Apr 1 1942
5.000,000
2,840,667
46,947,000
Ba xc* & r*
1912
1.000
1.000 A o
1,000 Ac
15-yr. coll.tr. s.f. bonds red. 102 H. $7,000,OOOBaxc*
1920
500 Ac
1903
1.000
Mar 31 1920
Deo 1 1932
6
6.957,000
1.150.000
First and Ref M $200,000.000
43
Miles
notes on page
see
STOCKS AND BONDS
6 g
4 g
See text
~Yx"s
Chicago & West Michigan—See Pere Marquette RR
Chicago Wisconsin & Minnesota—See Wisconsin Cent
Q—M
J
J
&
do
do
(as earned)
do
do
do
do
NY,PaRROo;Chi,lllTr&8
April
1915 coup "not"
paid
Chloago
J P Morgan
A Co, N Y
111 Tr & S Bk.Chlo; ANY
July 1 1952
MAS Sept 1 1962
M &
S Sept 1 1935
NY.JPM4 Oo, AOhi®
Choc & Mem—Choc Okla & Gulf—See Oh R I 4 P
Cincinnati Dayton & (ronton—See Clnoln Ham 6b Day
Cincinnati
Find & Ft W—1st M g guar end red._N,o*
91
4 g
&
M
N Nov
Nov
1 1923
'14
Cincinnati Hamilton & Dayton—See Bait & Ohio RR
d On Dec. 31 1917
a
further $2,090,000 was held by compa ny and
LATE DIVS.—('99. '00.
( 3H
5
'Cl*
Common
In
1921.
Feb.
pledged
6
8
67
y'iy
6
5
5
text
BONDS.—Superior Short Line Ry. 5s.
V. 92,
p.
954,
1310.
time, $ for $, for consol. 6s. V. 68, p. 521; V. 77. p. 2389.
The $6,070,000 St. Paul & Sioux City 6s matured April 1 1919 and were
replaced by $6,070,000 Consols, of 1880. V. 108. p. 877, 977.
This made
the disposition of the $30,000,000 Consols Dec. 31 1920: (a) Outstanding
6% bonds, $24,402,000:3 H% bonds, $3,734,000; (6) reserve to retire under¬
lying bonds, $560,000; (c) resreve for new lines not to exceed $15,000 per
mile, $1,313,000.
Of the $11,200,000 debentures ($15,000,000 auth.), $9,200,000 are"plaln'
and $2,000,000 are "stamped" as subject to Income tax; an additional
$2,000,000 Is owned by the company or due It from the trustee.
V. 101,
p. 1806.
Any increased mtge. (except for extensions) must secure deben¬
tures.
V. 94. p. 278. 487, 1316; V. 95. p. 812: V. 96. p. 1421, 1556; V. 98
386* V. 101,
p.
129.
p.
Equipment trusts issued to Director-General for rolling stock allocated
See article on page 3.
to this company.
Jan.
EARNINGS—
Gross
Net
after
1 -Mar.
1921.
taxes.
Jan.
31
1 -Dec.
1920.
1920.
$6,887,470
.def.155,914
Coal Tonnage Transported (fCal. Years; xJune 30 Years).
31—
1919.
$31,911,606 $27,732,018
1,058.332
2,376,598
3.101,078
$7,731,637
X1912-13.
X1915-16.
2,470,541
North Wise. 1st 6s, due 1930, are exchangeable at option of holder at any
paid
for loans.
!J2. '03. *04. '05-'16. '17. *18. '19.'20-21
5
21. 2*4%.
not
coup
3,669,065
tl916.
4,077.272
tl917.5,414,198
U918.
5.619,097
t!919.
3,712,234
OFFICERS.—Pres., M. J. Carpenter; V.-P., F. O. Wetmore; Treas.,
F. J. Lawlor; Sec., W. F. Peter.—(V. 112, p. 561, 1143, 2189.)
CHICAGO
UNION
STATION CO.—Incorporated In Illinois.
Owns
old Union Station and is building extensive new terminals covering 35 acres.
at cost of
$47,000,000.
Capital stock authorized, $3,500,000; outstanding,
$2,800,000, held one fourth each by Pennsylvania Co., P. C. C. A St. L.
Ry., Chic. B. A Q. RR. and Chic. Milw. A St. Paul Ry.
The station
will be used by the four
proprietory companies and the Chicago & Alton RR.
The company has entered into an agreement with the Post Office Dept. for
the construction of a $4,000,000 P.O. terminal in Chicago.
V. Ill, p. 1851.
The company has issued $47,000,000 first mtge. bonds of which $30,000.000 Series A 4M% and $10,000,000 Series C 6K% are in the hanas
of the public.
Authorized issue, $60,000,000.
The bonds are guaranteed,
principal and interest, by the four proprietary companies.
Series A bonds
are red. at 105 on or after Jan.
1 1921; Series C red. at 110 on or after
Jan. 1 1935.
See V. 103. p. 60. 667, 1301; V. 107, p. 180, 1836.—(V. 108.
p. 378, 479, 2240, 2387.)
CHICAGO
UTILITIES
CO.—Incorporated
In
Maine
April
9
1912
to
lucceed (per plan V. 94, p.
938, 939, 1386; V. 94, p. 350) the Illinois Tunnel
Chicago Subway Co. foreclosed. V. 94, p. 911, 1056, 1118; V. 96.
p. 652, 1089.
Reorg. per plan of Oct. 2 1911 (V. 93. p. 938. 939. 1386.).
There Is owned by subsidiary companies 61 miles of tunnel, designed for
Oo. and
REPORT.—Report for calendar
a
Operating
year
1920.
1920 in V. 112, p. 1764:
1918.
1919.
xl917.
$26,489,817 $27,732,018 $24,829,981 $21,476,509
Net, after taxes, Ac____ $1,290,230
$3,101,078
$2,651,912
$4,298,538
Net oper. inc. (Federal),
2,624,720
x4.219.232
Other income
229,848
539,187
revenues
*
-
has
Gross income.,$1,520,078
Fed'l compensation occr'db$3,555,800
"
$4,837,725
$4,934,790
$4,935,700 x$4,219,232
82,446 (net)275,892 (net)268,135
456,266
2,405,763
2,262,870
2,282,180
2,260,474
788,151
788,151
788,151
788.151
927,825
927,835
927,835
927,835
"
Rentals, &c__
Interest
Pref. divs. (7% p. a.)___
Common dividends (5%)
-
Balance, surplus
$871,684
$690,195
$660,732
$402,603
a Covers operations for 10 mos., Mar. 1-Dec. 31.
b Includes compensa¬
tion for 2 mos., $815,603, and amount due under 6 mos. guaranty, $2,740,-
197.
x
near
as
Amounts in parenthesis are the company s
may
corresponding items
be.
as
>
OFFICERS.—Chairman of board, Marvin Hughitt; Pres., Jas. T. Clark
V.-Ps., A. W. Trenholm, S. A. Lynde; Gen. Counsel, James B. Sheean;
Sec., J. D. Caldwell: Treas., A. S. Pierce.—(V. 112, p. 743, 1739, 1764.)
CHICAGO TERRE HAUTE & SOUTHEASTERN RY.—(See Map.)—
Owns Chicago Heights, 111., to Westport, Ind., 298.09 m.; Blackhawk to Sul¬
livan, Indiana. 18.50 m.; Blue Island Yard, Illinois, 0.88 m.; Bedford to
Oolitic,
Indiana.,
4.76
miles;
10
branches,
39.18
miles;
trackage
Blue
Island Yard to Chicago Heights, Illinois, 12.47 miles; trackage to Union
Depot, Terre Haute, Indiana, 0.30 .miles; total Dec. 31 1919. 374.18 miles
Incorporated in Indiana and Illinois in November 1910 as successor of
the Southern Indiana Ry. and the Chicago Southern Ry. (both foreclosed)
per plan in V. 91, p. 337, 333. V. 97, p. 1110. A tentative valuation by the
I.-S. O. Commission in June 1919 fixed the cost of
reproduction at $22,347,890, and the present value less depreciation at $17,561,158. V.109,p.ll79.
The stockholders and income bondholders voted May 11 1921 to lease
the company for 999 years beginning July 1 1921 to the C. M. & St. P. Ry.
Seetermf of leasein V. Ill, p. 2519: V. 112, p. 561.
•
STOCK.—The $4,300,000 oom. stook, except shares necessary to qualify
directors, have been plaoed in a voting trust until Deo. 24 1920, unless
sooner
F.
terminated, as provided in the agreement.
Roy 0. Osgood. Frank
Taylor and Geo. A. Jackson, voting trustees.
BONDS.—The new "Firstand Ref." M. is afirstllen on about 115 miles
and
a
second
(consol.) mortgage on the remaining 246 m. owned.
V. 91,
p. 337; V. 92. p. 596; V. 94. p. 1118.
Purposes for tohich $20,000,000 First and Refunding Bonds were Issuable
Issued under plan (of which $2,090,000 pledged for loans)
I6.334.00C
Reserved to retire So. Ind. Ry. and Bedford Belt 1st M. bon&s__ 7,787,000
Reserved under careful restrictions for extensions, additions, Im¬
provements, acquisition of sub-company stock and bonds, Ao_ 5.879,00C
The Income bonds dated Dec. 1 i910, $6,500,000, bear interest from
Dec. 1 1912 at 5% per annum from net earnings (determined as provided In
the mortgage), payable if earned, but cumulative to extent not bald.
The
Incomes have at all stockholders' meetings one vote for each $100 par value
the condition and manner of casting such vote being fully stated In the mtge
Div. on incomes. 1%, seml-annuall" paid 8ept.l911 to Mar. 1913 incl
1H% paid Sept. 1913; then none till March 1 1917: to Mch. 1 1920,1
semi-annually (2 H %
No.
of
p. a.).
In Aug. 1919 paid 1K % on account of coupon
1 1915, and in March 1920 paid 1
% on account of
No. 16 due March 1 1915.
On Sept. 1 1920 paid 1
% on account
15 due March
coupon
coupon No. 16 due Sept. 1 1915. V. 108, p. 972; V. 109, p. 887; V.110
Federal Compensation.—$944,453 (revised) yearly during Federal control.
LATEST
EARNINGS—
Gross.
Net after taxes
Jan.
1-Mar.
1921.
$1,211,735
defl84,089
REPORT.—For year ending Dec.
1917.
1916.
Jan.
31
1920.
1920.
$1,345,112
42,873
1 -Dec. 31
1919.
$6,245,409
39,304
31 1917 in V. 106.
p.
Rents. Ac
Fixed
Int.
interest
on
$4,094,195
def.351,848
2751.
1917.
Gross
Net
earns._$3,805,025 $2,813,761
earnings.
$667,890
$516,083
Hire equip.,Ac.
654,499
429,978
$42,748
$619,404
1916.
$32,754
$648,606
inc.(2HH58,402(1^)79.201
Gross income-$1.322.389
$946,061 (Bal.. surplus.
$501,835
$185,600
Income account year ended Dec. 31 1919:'Gross, $4,094,195; net, def.,
$277,733; Federal compensation, $922,785; other income, $33,905; balance,
after deductions, $141,128.
narrow-gauge electric motors and cars, for the transfer of freight
the various railroad terminals in the City of Chicago and to and
between
from the
downtown business district and between business houses; see V. 86. p. 720;
V. 87, p. 1357.
The equipment of the (unprofitable) telephone property
been sold.
coupons
V.
unpaid.
103, p. 1121, 758. 1301; V. 101. p. 369.
V. 100, p. 1256, 1751.
EARNINGS.—Since 1913
no
April 1915
income from subsidiary companies.
results of operation during the past
The
eight years have produced deficits as
follows:
1913, $62,576; 1914, $11,100; 1915, $25,661; 1916, $28,411; 1917,
$86,550; 1918, $75,226; 1919, $85,880; 1920, $174,420.
See V. Ill, p. 1275.
Pres., S. W. Tracy; Sec., L. J. Gundlach: Treas., L. P. Ray.
Chicago
office. 754 W. Jackson Boul.—(V. Ill, p. 1275).
INDIANA RR.—Owns a valuable terminal
into Chicago to the roads
named
below,
Station, Polk St., Chicago, to Dolton, 17 m.;
*l«o to Indiana State line, 10 m.; to Cragln, 21 m., and to South Chicago,
) m.; total, 51 m.; total track, lnoludlng 2d, 3d, 4th traoks and sidings, 545
m.; also owns real estate,
car yards, warehouses,
elevators, Ac.
The
clearing yard embraces 1,810 acres.—V. 105, p. 388.
Leases.—The station terminal properties. Including the "Dearborn Sta¬
tion" and Its connecting tracks, are used for freight and passenger business
under 999-year leases (which have been In force for many years) by the
following companies, which own all the capital stock of the Chicago A
Western Indiana RR. Co. ($1,000,000 each), viz.: Chic. A Eastern IllinoisRE., Chic. Ind. A Louisville Ry., Grand Trunk Western Ry., Wabash Ry.
»nd Erie RR. Co.
The Atch. Topeka A Santa Fe Ry. Oo. also uses these
tracks and station under a long-term lease at a fixed annual rental, plus a
CHICAGO & WESTERN
system
affording
entrance
iti lines extend from Dearborn
proportionate maintenance, Ac.
The "Belt Railway" division. Including the clearing yard upon which
she First A Ref. M. bonds (mostly pledged to secure the 1-year 6% notes of
1917) are a first Hen, Is operated under a 50-year exclusive lease by the Belt
Ry. Co. of Chicago, all of whose stock Is owned by the following 12 roads;
Pennsylvania Co., Atch. Top. A Santa Fe Ry. Co., Illinois Central RR.
Chic. Burl. A Quincy RR. Co., Chic. Rock Isl. A Pacific Ry. Co.,
Ches. A Ohio RR. Co. of Indiana, Minn. St. P. A S. S. M. Ry., Chic. A
East. 111. RR., Chic. Ind. A Louisv. Ry.. Erie RR., Grand Tr. West. Ry.,
Co.,
Wabash Ry.
The Belt Ry. (V. 104, p. 1488; V. 105, p. 388) Is merely an
operating company, owning no mileage.
The lease to the Belt Railway
Oo. provides for an annual rental, of which at least $798,899 Is payable
directly to the trustee of the First A Refunding Mtge. In monthly install¬
ments, this payment to be increased from time to time by an amount equal
to the Interest on all obligations issued for Improvements to the "Belt
Division"; also a further $159,000 yearly for sinking fund.
Federal Compensation.—$1,509,530 yearly during Federal control
(con¬
tract executed).
f'95.'90.'97
7H
6
6
DIVIDENDS.—
BONDS.—The General Mtge.
Of the Consol. 4s of 1902
#erved to retire General 6s.
V.92.
*98. '99
{
ereent
6
6
bonds are drawn at
1900
to
1920.
6 yearly
105 and Interest.
(auth. Issue $50,000,000), sufficient are roV.87, p. 36, 1604. 1603; V. 88 J?. 100, 374;
394: V. 93. p. 1608: V.97. p. 1425: V.98. p. 235, 452: V..104. p.862.
Of the 1st A Ref.bonds of 1912 ($200,000,000 autb. Issue), with Interest
D.
jot to exceed 5%.
$50,000,000 were reserved to refund existing bonds,
160.000,000 for additions and improvements to the Belt division. Including
Chicago Union Transfer Ry.. for $4,400,000. and $100,000,000 for new
terminals and other Improvements.
There are $22,250,000 of these out¬
standing, $10,500,000 being pledged as security for the 15-year collateral
trust sinking fund bonds and the balance being held by the U, S. and the
Belt Ry. Co., as collateral.
No additional First A Ref. bonds can be
issued until the aggregate annual rentals payable above all operating
expenses, taxes, Ac., shall equal the Interest, including bonds proposed.
The leases provide that the five owning companies will jointly and severally
pay the interest on the $22,250,000 bonds, also a further $159,000 yearly
or a sinking fund until $22,250,000 has been redeemed,
V. 101, p. 693,
448: V. 100. p. 1671: V. 105, p. 388.
,
.
.
The holders of the $15,000,00(5 7% notes dated Sept. 1 1917 and extended
to 8ept. 1 1920 were offered a plan whereby the holder of each $1,000 note
would be paid $.500 in cash and would receive $500 in new 15-Year 7H%
Collateral Trust Sinking Fund bonds.
The Belt Ry. Co. agreed to accept
in exchange for the $1,000,000 6% notes held by it a like amount of new
15-Year 6% Notes.
The plan was declared operative in Oct. 1920, holders
of $14,000,000 notes having assented. V. Ill, p. 1565.
The bonds ar
,
j
A
a
Cincinnati
Ind
&
&c.,
see
M
Western—1st
(aAd) 5% cumulative
100
825,000
4
F
1,000
1,323,000
300.000
4 8
MAN Nov
6 g
MAS Mar 1
500 Ac
1916
1.000
1918
29
1,000
iooi
-
71.666
1915
1871
1,000
1.000
50
1.800,000
900.000
1893
1.000
650,000
100
9,300,000
1,800.000
1.023,000
461,000
500
1887
Ac
1900
1898
100
-
G.c*Ar*
100
1919
1,827
A
A Aug
A A O 15 Oct
A
2% Cincinnati
1921
Feb 1
A
g«
7 g
J
&
D June 1 1921
J Jan 1921
J Jan 1 1943
Dec 19 i6
See text
MAS Moh 1 1927
6
J
A
5g
J
A
.....
Ac
4 g
F
A
R Co, N
Penn R
1 1942
1934
Y
Pa.
Treas. Pittsburgh,
•
Cincinnati
do
N Y
Guaranty Trust Co.
N
V."Grand"Central Ter'l
Guaranty Trust Co. N Y
Commercial Tr Co Phila
Wlnslow.LanlerACo..N Y
3% Checks mailed
36 Wall Street.New York
4% Treasurer,
Pittsburgh,Pa
Wlnslow.LanierACo.N Y
do
do
do
A Aug
A Aug
1 1940
4 g
F
A
1 1940
4 g
F
A
A Aug 1 1948
1.633,000
Sept 1 1910
47,028,700 See text
5
9,998,500
Q—J
Apr 201921
6 g
J
A
J July 1 1929
15,000,000
1,000
1,000
1.000
100
1900
F
D June 27 *21 5K
2.990,000 See text J A
June 1 1921 IK
5
2.453.400
Q—M
900.000 7
A
D Dec "21-June '26
4H g J
F
A
A Aug 1 1928
975,000
6
Mar 1 1921 3%
text
March
3.000.000 See
4
J
A
J Julv 1 1951
1.000,000
MAS Sept 1921 to '25
215,000 7
100
100
Equlp trust Ser D due $90,000 s-an
Equip trust Series E due $65,000 semi-annually
Cincinnati Northern—Capital stock-1st M $3,000,000 gold.
—Q.xc*&r
Equip trusts due $43,000 annually
—k.c*
Cincinnati Richmond A Ft W—1st M gold lnt guar.o*
Clearf'd & Mahoning—Stock 6% rent $1,000,000 autk
First mortgage gold guaranteed B R A P—G.xo*Ar
Cleveland Akron & Cin—Stock $12,000.000
Clev Ak A Columbus gen M (now flrst) gold
c*
First oonsol. mtge $4,000,0001 guaranteed p A 1 end
gold sinking Fund
-j not guaranteed >xc*
Ola A Mask Val 1st M $2,000,000 g gu s f -_F.xo*
Cleveland Cincinnati Chicago & St Louis—Com stook
Refunding & Impt Mtge callable 103
N Y, Equitable Trust Co
1 1965
do
do
21-Feb *26
21-Apr '26 Penn Coforlns onLivee, Ac
Nov
MAN
tg
f g
5 g
$3,000,000—
Preferred stock 5% non-cumulative
Maturity
280,000
330.000
1902
1914
76
Places Where Interest and
Dividends are Payable
Dividend
and
$2,675,000
Text
call 105 ass'd.
Last
Ac
Sin New Ori & Texas Pac—CommonA Cincinnati Ry.
la fit Musk Val—See Cleve Akron stock $3.000,(MX)
Preferred stock
%
1*666
$100
1915
1916
1916
284
do
$32.000due s-a toApr'21then$33.000.Per I*
Cincinnati Inter-Terminal RR—1st pret stk (see text)
Cincinnati Lebanon & North 1st con g mi p Al—_xc*
g
Amount
Outstanding
$12,000,000
Sold redeemable on any Interest day at 105—Eqc*
Iqulpment trust $28,000 due semi-an
F.q
Dayton Leb & Cin RRAT—First M
When
Payable
Rate
Par
Bonds
Road
notes on page 6]
Value
Date
Miles
RAILROAD COMPANIES
[For abbreviations,
[VOL. 112.
STOCKS AND BONDS
EAILWAY
14
do
Penna RR Co, New
2%
office.
Treas
New
do
do
do
Aug 1 1936
do
do
do
do
do
do
1 1939
do
do
MAN Nov 1 1990
do
do
J July 1 1991
D June 1 1993
D June 1 1993
do
York
York
do
do
1K
Underlying Bonds—
Cincinnati
Indianapolis St Louis A Chicago
$10,000,000 g s f not drawn. -Ce.xo Ar
cons M ($12,000,000) g—Us.xo*Ar
Olev Cin Chio A St L White Wat Val D v 1st g-Ce.xo*
Spr A Col Dlv (Col Spr A Cin) 1st M gold—-Ce.xo*
Cairo Division 1st M $5,000,000 gold
Ce.xo*
St Louis Dlv ooll tr gold ($727,000 In s f) -Ce xoAr
Cincln Wab A Mien Dlv flrst mtge gold
Lls.xo*
Gen M 100 years for $50,000,000 gold
Ra.xo* A
1886
1884
1890
1890
1890
Gen 1st M
01 Col C & I Gen
62
45
500
Ac
gold gu_Ce.xo*A
Springfield Dlv lien hold by Peoria & East Ry
Debentures secured by mortgage of 1919 —Gc*Ar*
1.021
1.021
44
136
A
,
1796
Findlay, O.,
Ottoville. 6.1
CIN. HAMILTON & DAYTON RY.—See B. A O.—(V. 110, p. 261.)
CINCINNATI INDIANAPOLIS & WESTERN RR.—Owns Hamilton.
O., to Springfield, 111., 283 miles; trackage B. & O. for passenger trains
Hamilton to Cincinnati, 25-miles; other trackage, 13 miles; total Jan. 1
1920, 321 miles.
On Dec. 1 1915 succeeded Cincinnati Indianapolis A
Western Ry., foreclosed and reorganized Independently of Cin. Ham. A
Dayton Ry., per plan in V. 100, p. 2084; V. 101. p. 47. 1552; V. 102, p. 250;
V. 103, p. 1786, 1888; V. 104, p. 361, 2451; V. 105, p. 72.
Sidell A Olney
was sold for $200,000.
V. 108, 1722, 974; V. 106, p. 2559, 2230.
STOCK—VOTING TRUST.—Capital stock auth, common. $7,500,000
5% non-cum. pref $7,500,000.
Par$100.
The present issues. $5,350,000
„
,
of each class, is covered by a voting trust till Dec. 1 1920 (proposed exten¬
sion to Dec. 1 1925,
V. Ill, p. 2040).
Voting trustees are Frederick H.
Ecker, George K. Johnson, It. F. Whitcomb, L. Edmund Zacher,
Barbey.
Equitable Trust Co.. agent for trustees.
$12,000,000.
J. A.
To obtain aid from National Railway Service Corp. to purchase
V. Ill, p. 1660.
Final settlement, V. 112, p. 161.
equip¬
Jan. 1-Dec. 31
1919.
$3,204,5/0
.1920.
1920.
$829,127
$1,078,801
$4,481,147
def.$178,214 def.$/08,477 def.$498,637 def.$525,353
Net after taxes
REPORT.—For calendar years:
1919.
1918
Gross earns-—$3,204,571 $3,137,152
1918.
$481,486
1919.
Gross income.df$109,237
114,479
159,937
def23,720 Rents, Ac
175,916
181,916
x422,213 Interest
139,633
82,993 Balance, surp.def399,632
Gross income.defl09,237
481,486
x As certified by I.-S. O. Com. but not accepted by the company.
Oper. income_def589,580
Stand, return.
Other income.
x422,213
58,131
For 1920: Net ry. oper.
income, def., $471,040; other income (incl. 2 mos.
Fed. corap.), $185,082; int. on funded debt, $169,917; net income, def.,
$455,875.
(Note: The above does not include amount due from Govt,
on account of
guaranty period, but includes only $150,000 received to ap¬
ply thereon.)
<
OFFICERS.—Pres.,
B.
W^R. Bixler.—(V. HI,
A.
Worthington;
p. 488,
Sec.,
F.
Goebel; Treas.,
J.
1277, 1660, 2040, 2139; V. 112, p. 161.)
t-
CINCINNATI INTER-TERMINAL rr—Owns a road 0.6 m. In length
connecting the Chesapeake A Ohio bridge and the Cin. Ham. & Dayton
terminals.
Controlled by Chesapeake A Ohio Ry.
Common stook, $10,000
In $100 shares, Issued for purpose of oontrol.
There Is authorized $1,000,000 of flrst pref. 4% cum. stook seoured by mtge. to the Union Savings Bank
A Trust Co. of Cincinnati, as trustee, and rentals paid by Cbes. A Ohio and
Louisville A Nashville, and subject to call on any Int. day after Feb. 1 1915
at 105.
V. 79. p. 212; V. 80, p. 1728, 2398, 2620. Pres., Chas. E. Gra¬
ham.—(V. 80, p. 2620.)
Cincinnati
Lebanon & north, ry—owns Cincinnati, o.. to
Dayton, 55 m.; from Middletown June, to Middletown, O., 14 m.; Hemp
Clement, O., 5 m,; branch, 1 m. V. 99, p. 1831: V. 100, p. 139
Stock, $2,100,000, owned by Penna. Co. V. 75. p. 980; V. 100.p. 53.
Div. of 3% paid in 1906, '09 A TO; '11 A '12. 4%:r13. 5%; '14. 3%: '15.
none; '16, 4%; 1917-1920, none.
V. 99, p. 53.
The $1,323,000 1st cons. 4s
are guar., p. A I, by Penna. Co.
V. 77, p. 86; V. 98, p. 610.
Cal. year 1919;
stead to
compensation $111,985; other income, $29,422; charges, $112,981; surp..
$28,426.—(V. 100, p. 900.)
ry.—Operates
Cincinnati Southern Ry., owned by city of Cincinnati, Cincinnati to
Chattanooga, Tenn., 335 miles; trackage, 2 miles.
Owns entire stock
of Harriman A Northeastern
Ry., 20 miles, operated separately.
V.
77, p. 1743.
In 1901 lease was extended 60 years to Oct. 12 1966
rental under renewal to be $1,050,000 yearly for first 20 years, then
$1,100,000 for 20 years; thereafter $1,200,000. V. 73, p. 722; V. 74, p. 1251:
V. 95, p. 1402.
In Jan. 1921 was authorized to assume the obligation of
paying, as additional rental, the interest on not exceeding $3,500,000 of
5% gold bonds of the City of Cincinnati, O., Series B, and of paying an¬
nually 1 % of the principal of said bonds to provide a sinking fund for their
redemption.
V. 112, p. 161.
Pref. stock has no voting power.
V. 74,
cincinnati
•
p.
new orleans & texas pacific
528, 829.
DIVIDENDS.—
Common
Dividends
/ '07-T0. "11.
%{
on common
5
8
T2-T5. '16.
11 y'ly
12H
'17. T8.
T9
'20. '21.
13
13
13 text
13
J
J
5 g
4 g
A
A
A
A*
4 g
A
A
O Apr
March 1 Apr
4
J Jan
do
do
York
Treas. office. New
1 1953
1 1940
1
do
do
Treas "office.
1931
York
New
Morgan,HarJesACo,Paris
D June 1 1930
2K% extra.
Majority of common stock is owned by S. W. Construction
Co., which in turn is controlled by Ala. Gr.So. RR. V. 61, p. 26; V.65,pll73.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Federal Compensation, $3,541,039 (contract executed).
The company
refused the 6 months' extension of the Govt, guaranty.
Jan.
EARNINGS.—
Gross
Net after taxes.——
—
.
Jan. 1 -Dec. 311920.
v
1919.
1 -Mar. 31
1920.
1921.
$4,453,914
$24,062
——
$4,748,479 $20,858,559 $16,313,685
$735,188
$3,353,635
$155,595
REPORT.—Year ending Dec. 31 1919, in
Oth.inc.
Oross.
Net.
$
$
$•
V. Ill, p. 1078:
Rents,&c.
Divs.
Bal.,Sur.
$
$
$
134,359 2,768,122 511,370 1,267,265
*4,412,398
110,043 2,249,616 511,370
890,096
1919
16,313,685x3,541.039
110,181 2,518,152 511,370
806,782
1918
-15,478.641x3,541,039
x Standard return.—(V. Ill, p. 989, 1078, 2139; V. 112, p. 161, 2079.)
*Includas $.3,822,225 oper. income for 10 mos., Mar.-Dec., and $590,173
Federal compensation for 2 months.
; v
1920
—
cincinnati northern rr.—(See Mans New York Central Lines.)
—Owns
Franklin, O., to Jackson, Mich., 205 miles; branch, Lewisburg. O.. to quarries, 1 m.; trackage (C. O. C. A St. L.), Franklin to Cin¬
cinnati, 38 miles; at Jackson, 1 mile.
On Dec. 31 '19 Clev. Cin. Chic. A
St.
L. owned $1,707,400 of the $3,000,000 stock and $581,000 bonds.
Equip, trusts, see V. 101 p. 1713.
Divs. Mar. 1910 and 1911. Z%: 1912
and 1913. 1K%; 1914 and 1915, none; 1916 to 1921, 3% yearly March 1.
Jan. 1 -Dec. 31
1920.
1920.
1919.
$764,064
$3,616,989 $2,872,268
Net after taxes
43,308
136,962
498,890
587,551
Federal Compensation.— $317,628 yearly during Federal control (contract
executed).
Government plan, V. Ill, p. 2520.
'
Calendar
Operating
Net (after xAvailable
Fixed
Dividends Balance,
Year—
Revenues.
Ord.Tazes). Income.
Charges.
(3%).
Surplus.
1920
*4.412,398
134,359 2,768,122 511,370 1,267.265
LATEST
'
Jan.
1921.
EARNINGS.—
Gross
—
-
1 -Mar. 31
$780,401
,
_
.
$335,9^1
$5^7,552
$2,872,269
1919
$95,323
$90,000
1918-—.- 2,812,979
340,076
326,786
89,967
90,000
x This includes U.
S. Govt, compensation and miscellaneous
$150,648
146,81$
income.
1277, 2139,2520; V. 112, p. 161.
CINCINNATI RICHMOND & FORT WAYNE RR.—Owns from [Rich¬
mond, Ind., to Adams, Inc., 86 miles; leases 5 miles of P. Ft. W. AiO.
operated by Grand Rapids A Indiana Ry.
Rental, net earnings.
Int. la guaranteed by the Pennsylvania Co. and Pitts. Cin. Chio. A St. L. Co
Jolntlylthe P. C C. A St. L. taking the place of the Cin. Ham. A Dayton
in 1888).
Stock. $2,186,600 (par $50); Penn. Co. owns $1,287,850.
Pro¬
posed extension of bonds, see May 28 1921 "Chronicle."
Net.
Int., &c.
year ending Dec. 31—
Cross.
1919
$1,352,746
1918
1.256,370
*$157,248
$145,792
1917
1,085,729
280.698
210,834
*
Rent from lease of road and other income.
Bal.. Sur.
—
$11,456
69.864
CLEARFIELD & MAHONING RY — {See Map Buf. Roch. & Pitts.)—
road, completed In 1893, from Du Bols Jet., Pa., on Buf. R. A P., to
on Beech Creek RR.. 26 miles.
Leased during corporate existence
wad renewals thereof to Buffalo Rochester A Pittsburgh—whloh see—at a
rental payable in gold and equal to 6% on $1,000,000 stock, par $50. taxes
and 5% on bonds, the latter being guar., p. A 1., by end.—(V. 89, p. 1141.)
Jwns
Jlearfleld
CLEVELAND AKRON & CINCINNATI RY.—(See Maps of Pennsyl¬
from Hudson, O , to Columbus, O., 144 miles; Klllbuck
34 m.; Morrow to Trlnway, 148 m.; Apple Creek branoh, 9 m.;
total owned,
335 m.
Owns a fourth Interest In Akron A Barberton Belt
RR„ 24 m.; and half Interest In Zanesvllle Term RR., 5 m. V. 76, p. 435.
A consolidation July 1 1911.
Pennsylvania Company owns $9,297,688
of the $9,300,000 outstanding stock.
Operated by Pennsylvania RR. Com-
vania RR.)—Owns
to Trinway,
months' notice, the net Jan. 1
to go to C. A. & C.
V. 93, p. 1669.
Sany Western Lines from earnings1918, under arrangement terminable o«
First dlv., 2%, paid Sept. 25 1911;i* 1912, 6% (M. A S.); 1913. March.
1914 and 1915, none; 1916, Dec., 4%; none since to May 1921.
Of Cleveland Ak. A Col. 1st Consol. gold 4s of 1940 (Commercial Tr.
June 1921 paid
3%;
Co.,
Phila., trustee), $1,023,000 are guar., p. A L, by the Penn Company.
V. 71, p. 390; Vs 76, p. 653; V. 77. p. 1746, 2280.
Penn Co. also guarantees Cin. A Musk. Val. bonds; see form, V. 76, p.
653.
In 1917, gross, $5,725,235; net, $514,335; other income, $68,665;
deductions, $463,242; surplus, $119,758.—(V. 98, p. 522.)
CLEVELAND CINCINNATI CHICAGO & ST. LOUIS RY.—(See
Y.
Central
Lines.)—ROAD.—Radiates
from
Indianapolis,
Y.
Maps
Ind..
westerly to Chicago, Peoria, Cairo, 111., St. Louis, easterly to Sandusky,
Cleveland, Columbus and Cincinnati, O.. and southerly to Louisville.
Branches ownedMain Line owned—
Miles
Cleveland to
183
Springfield, O
Ind
46
203
...
a
Ind
38
34
—
241
Total branches owned
249
260
—
ville, Ind
Total main line owned
Faipland to Martinsville,
Other
Benton Harbor, Mich., to Rush-
Other
50
56
Springfield, O—
Harrison, 0.,to Hagerstown, Ind. 63
170
—
Indianapolis, Ind., to East St.
Louis, IB
Cairo to Danville, 111
Springfield, O., to Indianapolis,
Ind
Delaware to
Hillsboro to Lenox, 111
City
Jet.
to
Ludlow
Grove, Ohio
Galion, O., to Indianapolis, Ind.
Cincinnati, O., to LaFayette,
Miami
Total
main
line
and
branches
1,693
owned
Proprietary Lines—
Miles.
136 Cincinnati LaFayette A Chicago
RR
57
204 Vernon Greensburg A RushvUle RR
44
10
Columbus Hope A Greensburg
1,452
24
RR
1
Findlay Belt Ry
stock semi-annually (J. A D.), 3%, and from Dec.
916 to Dec. 1920 paid 3H% extra in June and Dec.; in
J
do
Now
ment.
1 -Mar. 31
ig
J Jan
Pres., W. K. Vanderhilt Jr.—(V. Ill, p.
See table.
Equipment trusts of 1916. V. 102, p. 521, 1346. 1435.
1921.
Jan
J
V. 78, p. 286, 342, 701.
Coupons due Nov. 1914 were defaulted
V. 99, p. 1451.
Operations abandoned in 1918.
Bid in for $200 000, the
upset by the bondholders' committee, at foreclosure sale on Nov. 18 1918.
Road has been scrapped.
V. 107, p. 1481, 2008; V. 108, p. 378, 1164.
Committee for First Mtge. 4s.—P. N. B. Close (Chairman).
Bankers
Trust Co., N. Y., depositary.—(V. 108, p. 378.)
V ,7
;
EARNINGS—
Dross
A
9.650.181
miles.
Jan.
J
5O0$fr Ao
CINCINNATI BLUFFTON & CH. RY.—Dismantled.—V. 106,p.
:rf CINCINNATI FINDLAY & FORT WAYNE RY—Owns
to Fort Wayne. Ind., 78.4 miles; to East Mandale, south to
.
A
A
,
LATEST
ig
tg
M
de
1 1934
July 1 1940
Sept 1 1940
J
for'payment at 102 K. V. Ill, r>. 791.
Bond application, v. 1 i 1, p. 989.
Equipment trusts issued to
Director-General for rolling stock allocated
to this company.
See article on page 3.
Government Loan.—The I.-S. O. Commission on Aug. 14 1920 granted the
company a loan of $8,000,000 for 15 years at 6%. to be secured by a part
of the company's 1st & Ref. Mtge. bonds, Series A.
Pres., H, G. Iletzler, Chicago; V.-P. A Gen. Mgr., E. H. Leo; Sec. &
Aud., R. L. Porter; Treas., J. E. Murphy.—(V. 112, p. 1023, 1976.)
mtge. is limited to
A
5,000.000
ref. mtge. 5% bonds, Series "A."
Arrange¬
sinking fund for the
Ill, p. 791: V. 112,
1976). The bonds are to be purchased in the market by the sinking fund
not over 102K and int., and if not obtainable at that price, shall be called
new
A
J
Looo
1891
—
BONDS.—The
J
4 8
1890
1911
1890
204
secured by $10,500,000 1st &
a
Q—F
6 g
1.000
1,000 Ac
1,000
1,000
1,000
1,000
ments have been made through the medium of a special
retirement of all the bonds before maturity (compare V.
p.
at
4$
1893
1893
1903
269
194
Cb I A St L S L 1st M $3,000,000
Debentures
6,695.000
-3,205,000
650,000
1,103,500
5,000,000
9,143.000
4,000.000
28,579,000
4,161,000
3.000,000
5,000,000
1,000 Ac
1,000
1.000
1910
Series B
do
891
Total
proprietary lines
—
126
Mat, 1921.]
RAILWAY
RAILROAD COMPANIES
IFor abbreviations, &c.,
see
STOCKS AND BONDS
45
Miles
Dais
Par
Amount
Rate
When
Last
Dividend
Road
notes on page 6]
Bonds
Value
Outstanding
%
Payable
and
Maturity
Places
Where Interest and
Dividends
are
Payable
wleve. Cine. Chicago & St. Louis (Con.)—
Big Four Ry equip trust due $373,000 yearly Q.c*
do
do
equip trusts g guar due part yearly
do
do
equip trust due$237,000 yearly
c*G
1914
$1,000Ac
1915
1.000
1917
Central Grain Elevator 1st M assumed
Obligations of Proprietary Lines.
Cincinnati Sandusky & Cleveland—Preferred stock.
1,000
$2,984,000
1,150.000
1,422,000
5
Ig
J
161,000
5
MAN Various
1905-6
50
Consol (now first) mtge S3.000.000 rold._AB.zo
Central Indiana 1st M (guar 4 of $1.500,00Q).Ce.xf
Evansv Mt Car A No 1st M $5,000,000 gu O.xc'Ar*
170
118
1888
1903
1910
Louisville & Jeffersonvllie Bridge 1st M—See thatOo
Indianap Ua Ry Gen A Ref M $10,000,000 See text
Cleveland Columbus Cincinnati & Indianapolis—Cleve and I adiana polls
Cleve Lorain & Wheeling—See Baltimore 3c Ohio RR
Cleve & M V—Pref stk 44% cum ($2,851,800 auth)
44
First preferred 4%
non-cumulative $8,500.000
preferred 4% non-oumulatlve $8,500,000
1882
First mortgage gold $20,000.000
1,011
1898
Eq.zo*
Ref A Ext M $100,000,000 gold red 101 ..Ce.xo'&r*
Text
1905
Lines Controlled by Ownership of Practically Entire
Capita I Stock
Ft Worth 3c Denver City 1st
454
1881
mortgage gold-Ba.xc*
1915
% tr Ser O $56,000 s-a red aft May *20 102 4. FP
Ft W 3c Denv Tor Ry IstM $2,500,000 call 105 Baxc
1907
Col Sdks & Crip Cr D Ry (See that company)
x
Series "A." J
A J; "B" A A O.
y
Leased Lines—
Cincinnati
land
A
None
100
100
Northern
Carmel
Ry
Total mileage operated
2,409
2
Indianapolis
is
Peor
company
204
also
A
one-eighth
East.
of Peoria A Pekln Union Ry.
one-fifteenth owner In Terminal RR.
owner
Ry.).
Association of St. Louis, and two-flfths owner of
Indianap. Union Ry., and
de Belt Ry., operated independently.
The company in April 1921 received,
»
DTVS.
11908.
%) _l
'09. *10. *11
2
_2
_0
5
%\
'12
13.
14-*15
16
T7-'20.
192t
_0
0
0
0\
see1
text.
35*
0
24
Apr. 1921,15*% quar. (5% per annum.)
0
do
(All owned by Big Four)
Q—M
Q—M
Q—M
44 g
3H g A
A
BHI
F
text
1938
l
Juno 1
Wlnslow, Lau A Co.,N Y
*21,15*% Wlnslow, Lan
June I
1921
A Co. N Y
2 Hi
do
do
June 1 1921 1%
Jan A Oct 1942
do
do
O Oct
1
do
1942
do
do
do
do
1948-1950
do
Deo 31 1912 1% Office 26 Liberty, N Y
D Dec 31 1920 2%
do
do
Dec 31 1920 4%
do
do
F
A
A Feb 1 1929
4 g
do
do
4H g MAN May 1 1935
do
do
J
4
&
Dec
4
J
&
D Dec 1 1921
MAN May 1 1925
A
D Dec 1 1937
6 g
44
Office, 26 Liberty St, NY
Fidelity Trust Go, Phil*
Office. 26 Liberty St, NY
J
6
on
Dec. 311 919 owned or co ntrolled
Rentals of leased lines
Interest on bonds, Ac
150", 586
185,679
341,684
3,580,184
$566,679
4,737,267
1,804.642
924,844
141,315
74,825
"221",502
299,689
1,616,343
(5%) 499,925(5%)499,925(5%)499,925
$35,005
H.
1917.
$561,280
5,085,884
"
Balance, surplus.
OFFICERS.—Pres., A.
co.
1918.
$516,740
5,880,769
Hire of equipment, including interest
Other rents.-_
by the
Smith;
$2,493,014
Sec., Edw.
F.
Milton S. Barger, N. Y.
$4,656,972
Stephenson; Treas.,
Directors.—William
K.
Vanderbilt,
A.
T.
Hardin,
Frederick
W.
Vanderbilt, Ohauncey M. Depew, Geo. F. Baker. Wm. Rockefeller, H. S.
Vanderbilt, Walter P.Bliss, W. O. Brown, R. 8. Lovett, New York; A. H.
Smith, H. A. Worcester and E. S. Harkness, Cincinnati; Festus J, Wade,
St. Louis.—(V. 112, p. 161, 561, 652, 932, 1399, 1865,
1977, 2189.)
CLEVELAND & MAHONING VALLEY RY.—Owns from Cleveland, O..
Penn. State line, 81 m. (77 double
track); Nlles, 0.,to Lisbon. O.
to Youngs town, 0.,8m.
Leased to Nypano RR. (formerly
N. Y. Penn. A Ohio) under new lease dated 1917; rental,
$550,967, with an
additional amount contingent.
The shareholders voted Feb. 23 1917 (a)
to issue $2,851,800 pref. (a. A d.) stock for
impts., elimination of grade
crossings, Ac. (none issued to Apr. 1921); (5) to make a modified lease for
999 years from Mar. 9 1917, during trthe corporate existence and all exten¬
sions thereof, to the Nypano RR. Co., a subsidiary ©f the Erie Railroad
Co. V. 104, p. 163.
Coup. int. is J. A J., reg. int., Q.-J.
Common stock is
$3,259,200, of which $3,258,400 is held by "Atlantic First Leased Lines
Rental Trust Co., Limited," of London.
Dividends: in 1906 to 1911,
11.40%; 1912, 8**%; 1913. 11.20%; 1914. 11.25%: 1915. 11-40%: 1916.
11%; 1917, 11.75%; 1918, 10.75%r 1919. Jan., 2%%', April. 24%;Oct.,
1919 to April 1921, 2%% quar.—(V. 104, p, 1701.)
to
authority from the I.-'S. C. Commis¬
sion to acquire the Evans. A Ind. RR. stock.
It is proposed to operate the
property as the Evansville Division of the co.—V. 112, p. 932, 1399, 1977.
Pref
See
O
text. Jan
Miscellaneous
Items applicable to prior period
Dividends on preferred
Bart owner ofof Columbus, Dayton Cent. Union Dayton A Ry. of Cincinnati,
nlon Depot
Cent. Indiana Ry., Union Ry., Depot A Union RR., Mun-
Com
&
War taxes
1889, per plan In V. 48, p. 427. Of the com. stock, $30,207,700 was on Dec.
31 1919 owned by N. Y. Cent. RR. V. 72, p. 86; V. 82, p. 749, 191213 purchased subsidiaries (V. 95, p. 418. 890, 1472; V. 97, p. 1114, 1821.
the
A
See
4
York
do
do
Farmers Loan A Trust Co
Clevela nd Cincinnati C txloago A St Louis
e
7
10
8.176.000
616,000
300,000
HISTORY. Ac.—A consolidation of the Cincinnati Indianapolis St. Louis
A Chicago Railway Co., the Cleveland Columbus Cincinnati 4c
Indianapolis
Railway Co. and the Indianapolis A St. Louis Railway Co., made in July
(through
1965
New
do
1919.
201
184
-
Trackage rights
33
Total leased lines
The
1960
1
Add! tional $6,61 4,446
&
Mt. Gilead Short Line RR
Central RR. of
1
J Jan.
5 g
8,500,000
8,500,000
1,000
1,000
1,000
r
J July
&
44
1,000
19,400.000
100 Ac r28.979.900
F & A.
Peoria A Eastern Ry
Cleve¬
169
Mt.
"D,"
&
J
Line Operated Under Contract—
Sandusky
RR
Evaasville
"C". M & N;
g J
3% Treas office.
A
J Jan
1 1928
MAN May 1 1953
5 g
Cons M (now 1st) $3,000,000 g
Ce.xcAr
123 1888
1,000&o
2,936,000
Cleve & Mar—See Toledo Columbus A Ohio Rlv. Ry.
Cleve & Pittsburgh—Stook 7% guar by Penn RR Co
50
11,228,300
Stock 10% guaranteed by Penn RR Co
50
9.450
Special betterment stook $28,738,135 auth guar 4%
50
17,893.400
Gen M $10,000,000 gold._F1 Series A A B
xc* 205
1892
1.000
4,323,000
Guaranteed prln and int)Serles B int reduoed.x 205
1892
1,000
349,000
(endorsed) Penn RR..JSeries G A D
xo*
205
'98-00
1.000
3,831,000
Cleveland Short Line—See New York Central R R
Cleveland Terminal & Valley—See Bait & Ohio
Coal & Iron—See Western Maryland.
Coal River Ry —See Chesap eake & O hlo.
Colorado Midland RR—1st M $2,000.000
1917
(?)
Colorado & Southern—Common stock $31,000,000
100 31,000,000
Second
MAN Nov 1 1920
Guaranty Tr. Co. N. Y.
J
Louis & Chi caxo—Se
50
Guaranty Trust Co N Y
1921-1929 Comrn Tr Co. Philadel'ia
J July
D To June 1927
6
See text
St
D To June 1929
&
5 g
4 g
428.997
2,571.000
750,000
2,118,000
1.000
1.000
&
&
-
Divs.on pref. stock July 1916 to
REFUNDING AND IMPROVEMENT
MORTGAGE.—A direct lien
1,827 miles of railroad owned and on the company's interest In 568 miles
of railroad operated under lease, contract or trackage rights: total, 2,396.
V. 109, p. 270. 370.
on
The
company
may
issue bonds beyond $25,000,000 (incl. $20,000,000
Series "A" bonds), but not for over 80% of the cost of work done,
of property acquired and with the consent of a majority of the pref. stock,
and only when the annual income applicable to interest charges out of
18 months next preceding such issue, shall not be less than 14 times interest
auth.
36 m.; Glrard
or,
charges, incl, interest on bonds to be Issued.
These limitations do not
apply
to bonds Issued for refunding prior liens, the European Loan of 1910 ana the
Debentures of 1911.
Bonds may be Issued in series, subject to certain con¬
ditions as determined by the board of directors.
V. 109, p. 270, 370.
The 20-Year European Loan 4s of 1910 and the 20-Year Gold Debenture
44s of 1911 are secured by the new mortgage on a parity with all bonds to
be
issued
thereunder.
The financial
plan outlined in 1919 resalted in the sale in July (V. 109, p.
270) of $15,000,000 of the new bonds, to provide for paying or reducing
short-term obligations, as follows:
Secretary of tne Treasury, $3,000,000;
Director-General of RRs., $2,000,000: bank and trust companies, $3,027,650: New York Central RR. Co.. $9,000,000.
The company also owes
the N. Y. Central RR. Oo. $2,266,824 on account of moneys advanced for
the purchase of coal lands.
OLD BONDS.—St. Louis Division bonds, see V. 52, p. 42-45.
The
100-year mortgage is limited to
$50,000,000.
On
Dec 31 191 *
$17,090,000 Gen. 4s were reserved for prior liens (exclusive of Cairo division.
Peorta Division, Michigan Division and the St. Louis Division west of Terr*
Haute). and the balance for equipment, construction and betterments, Ac.,
$1.®00.000 yearly.
See V. 79. p. 733; V. 83. p. 379; V. 87. p. 1010; V. 90,
p. 620, 1044: V. 94. p. 1118; V. 97. p. 1114; V. 98. p. 1459: V. 101, p. 2134.
Guar. Chic.
Ind
A 8t. Louis Short Line Ry., Cent
Ind.
Ky
ano
8pringfield Union Depot Oo. bonds. V. 77. p. 510. 517. 769. 1363. 2280
V 78. p. 1906
1961; V. 79. p. 2589: V. 95, p. 1541.
As to the
181 4s sold May 1910, pavabie in francs, and $10,000,000
45*8
ln T«ne 1911v« *9. p. 720, 178. 1141: V. 90. p. 1238
1296.
1424,1554; V. 91, p. 1710; V. 92, p. 1700.
Also see "Ref. A Impt. Mtge."
above.
Guarantees Ev
nsv. Mt. Carmel A Northern Ry. bonds.
V. 95, p. 890.
joiitly with other roads Gen. A Ref. bonds of Indianapolis
Union Ry.. which see.
V. 100, p. 555.
Jointly with other roads covenants to pay New York Central Lines
equipment trusts of several Issues, the amount outstanding Dec. 31 1919
on account of equipment so acquired by the O. C. C. A St. L. being: Issue
of 1907,
$740,069: 1910, $998,129; 1912, $1,119,23'; 1913, $933,870.
V. 85, p. 1401; V. 86. o. 168; V. 88, p. 761; V. 90, p. 1677; V. 93, p. 1726.
Guarantees $108,000 10-year 6% promissory note of Louisville & Jeffer¬
son ville Bridge & RR. Co.
Equipment trust 1917, V. 108, p. 973. 1060, 2329, 2341; V. 105, p. 72:
V. 106, p. 2021; V. 107, p. 695.
See "Finances."
CLEVELAND & PITTSBURGH RR.—(See Map Pennsylvania RR.)—
Cleveland, O., to Rochester, Pa., 122 miles; branches, Bayard, O., to
Goshen, O., 38 m.; Yellow Creek to Bellaire, 43 m.; branches to Dover and
Valley Jet., 2 m.; trackage. Rochester to Pittsb.
trackage. 23 m.; total, 255 miles.
issued to Director-General
this company.
See article on page 3.
catea
to
trusts
for
rolling
stock
Report of Peoria A Eastern Ry. Income Bondholders' Committee
settlement, V. 110, p. 1742.
Government loan, V. Ill, p. 2520; V. 112, p. 161.
alio
as
to
GOVERNMENT CONTRACT.—As of Dec. 27 1918, jointly with MunRy., executed an agreement with the Director-General of Railroads
de Belt
providing, during Federal control, for
an
annual compensation of $9,945,738.
V. 108.
of which the compensation of Muncie Belt Ry. amounts to $7,141.
p.
2341.
See "Ref. A Impt. Mtge." above.
Jan.
EARNINGS.—
1921.
1-Mar.
Jan. 1—Dec. 31
31
1920.
1920.'
$19,673,(04 $20,989,839 $88,869,534
1.874,155
5,115,511
11,326,243
Gross
Net after taxes
REPORT.—For 1919 In V. Ill, p. 784, 801:
Year ending Dec. 31—
1919.
Miles operated
Railroad
revenues
1918.
9
2,409
$73,856,456 $71,4031970
$14,165,664 $15,962,011
9,938,597
9,938,597
1,251,977
833.680
.
Operating income (after taxes)
Federal compensation
Other income
1919.
income
Chic.),
26
bonds and organization expenses.
"Special guaranteed betterment stook"
(subordinate to the original stook as to dividends only), with dividends of
4% guar, by the Penn. RR., Is issuable for impts. V. 79, p. 2205, 2642;
V. 83. p. 625; V. 85, p. 1082; V. 87. o. 812: V. 91.
p. 1446; V
93. p. 1785:
V. 96, p. 135; V. 97. p. 1425: V. 98. p. 999; V. 100,
p. 1348Of the special
guaranteed 4% stock, Penn. Oo. owned on Dec. 31 1920 $6,050,050.
V. 101, p. 1464, 448; V. 92. p. 1031, 1108.
BONDS.—All equally secured: guaranty, V. 56, p. 604; V.
V. 109, p. 1079.
106, p. 259;
CLEVELAND TERMINAL CO.—The Ohio P. U. Commission has auth¬
orized the issue of $2,500,000 First Mtge. 6% 25-year bonds and also to issue
$500,000 in stock for the purchase of land in Cleveland for terminal facilities,
V. 108. p. 378.
Forms part of Cleveland A Youngstown RR.. which Is
building,
as agent
for N. Y. Central RR,, an electric suburban line with
in Cleveland and has constructed a high-level
freight
that city.—(V. 107, p. 905, 1191, 1836, 2187; V. 108, p. 267, 378.)
terminus
CLEVELAND
RR,
in
struct
March
UNION
yard in
TERMINALS
1921 asked the
I.-S.
CO.—The
New York Central
C. Commission for authority to conr
(under charter of Cleveland Union Terminals Co.)
station in Cleveland for the
use
a
union passenge.
of the New York Central, the Cleve. Cinc-
Chicago A St. Louis and the N. Y. Chicago A St. Louis railroads.
V. 112, p. 1024.
Compare
CLEVELAND & YOUNGSTOWN RR—See Cleve. Term. Co. above.
(THE)
COLORADO MIDLAND RR.—Owns from Colorado Spring,
Castle, Col., through iBusk-Ivanhoe tunnel, 221.92 miles: branches.
19.37 m.; Cardiff to Spring Gulch, 15.01 m.\Arkansas Jet.
to Leadville, 4.80 m.; total owned, 261.10 miles.
Leased Rio Grande Jets
Ry., Rifle Creek to end R. G. J. Ky., 62.08 m.; trackage to Rifle Creek,
Ac., 14.46 m.; total, 337.64 miles.
Dividend in liquidation, V. Ill, p.2423.
to
New
Basalt to Aspen,
ORGANIZATION.—Successor June 1 1917 of the Colorado Midland
Kailway (V. 64, p. 1224, 1226), sold under foreclosure of 1st M. April 21
1917 to A. E. Carlton and associates of Colorado Springs, for $1,425,000;
*ale confirmed May 11.
V. 104. p. 1701, 2010. 2342.
In July 1918 on application of Colorado Title A Trust Co.
of Colorado
Springs, trustee, of $2,000,000 mortgage securing bonds, interest on which
was in default,
President A. E. Carlton was made receiver and ordered
to stop the operation of the road, which he did Aug. 5.
In Jan. 1919 the
dismantling of the road was sanctioned by the Colo. P. S. Commission ex¬
cept as to 26 miles from Colorado Springs to Divide.
In April 1921 the
road was not in operation and it was announced that dismantling would be
resumed
as soon as weather conditions would
permit.
V. 108, p. 267; V.
107, p. 180, 603, 695, 1287, 1579, 2289.
Sale of rolling stock, V. 107, p.
1836: V. 105, p. 2183; V. 104, p. 2342.—(V. Ill, p. 1471, 1566, 2423.)
$52,650,920
COLORADO & SOUTHERN RY.—Operates a system of roads from
Guernsey, Wyo.. through Denver to Fort Worth. Galveston. Houston.
Dallas, Ac.
Total oper. Dec. 31 1919, 1,811 miles, including 134.16 miles
•perated under lease or contract, notably 118 miles of trackage, Denver to
Pueblo, over Atch Topeka A Santa Fe.
Total line owned 1,944.82 miles
(nfjwhich 134.03 miles not operated by the company), viz. ('which see);
$11,848,205
Colorado A Sou. Ry.
$73,856,456
14,165,664
1917.
9
(owned)
979
Wichita Valley
52
Ry
23
61
Wichita Falls A Oklahoma
1,563,625
.$11,190,574 $10,772,278 $13,411,830
Wichita
Controlled Lines—
Colorado
Gross corporate
A
LEASE.—Leased for 999 years 1871 to Penn. RR. Oo. and since Jan. 1
1918 operated directly by that company.
Rental, dlvs. on stock, int. on
Guarantees
Equipment
(P. Ft. W.
m.; other
RR
Fort Worth & Denver City
-—121
*454
Valley
RR
Abilene A Northern
■
Stamf.A N.W. Ry.(V.89, p.1181)
39
82
RAILROAD
[For abbreviations,
Colo
Mile i
rntes on page
see
6]
Date
Par
demount
Rats
When
Last
Bonds
Value
Outstanding
%
Pavable
and
Maturity
Springs & Crippe Cr Dist Ry—
$1,000 $1,255,000
74 1900
$2,000.000gsf
;.i;
Cez
88
5 g
1,000
1,379,000
1902
consold mortgage $3,600,000 gold_„G.xc<kr
6 g
240.000
1,000
1904
Col Wyom & East—Lar. H. Pk & F 1st Mg-AB.zc*
6 g
100 Ac
550.000
112 1914
1st A RefM $2,500,000 gold red 102
100 Ac
1.600.000 Up to 6
1914
112
Gen M (Income) $1,600,000 gold red par text
1,000
888,000
75 1887
Coium Newb & Laurens—1st M $12,000 per m.SBaz
o
3 '
Columbia & Greenville—See Southern Ry—
Columb us & T oledo- See Hook ing Valley Ry.
50
1,786,200
55
Columbus & Xenia—Stock 8% rental $1,800,000
500,000
1.000
71.44 1914
Concord and Claremont <N H)—First mortgage..
Concord & Montreal—Bonds—See Boston & Maine IiR above
7 '•
100
350,000
39.82
Concord & Portsmouth—Stock 7% rental 99 years.
100
6
2,500,000
Conn & Passu music—Pref stook 6% rental 99 yrs.-O*
2,900.000
1.000
110 1893
First mortgage $2,900,000 gold
zo*
100
400,000
37
Massawippl stook guar same dlv as Conn A Passump
5 g
1,000
350,000
1911
21
Newport A RJohford 1st M gold guar by 0 & P .zo*
Connecticut River—Bonds—See Boston & Maine RR
7,000,000
1,000
1911
36|
Conn (Phila)—1st M $15,000,000 guar p&I.GP.kvc*
546,000
1,000
1905
Conneiisville & Monong—1st M g s f red par. UPi xc&r
i g
500 Ac
2,280,000
1399
Copper Range—First mortgage gold (see text)
x Text
5 g
1.000 23,020,000
1909
197
Copper Ri ver,& North western—1st M $50,OOO.OOOGxe*
Cornwall & Lebanon—See Pennsylvania RR
text
100
2,500,000 See
Cripple Creek Central—Common stook
text
91
3.000.000 See
Preferred stook 4% non-cumulative
6 g
263.000
1,000
41
1895
Midland Term first mtge gold sinking fund—F.xo*
1 stM
First
J
A
A
O Oct
J
&
J
A
„
748.
In
Jan. 1899, V. 67,
common.
Qulncy acquired $23,657,f
V. 87, p. 1663, 160* V. 88. p. 158, 685.
Owns a large majority of the com. stock of Fort Worth A Denver City
®y.. which see.
Controls Denver A Inter urban (Electric) Railway,
whloh owns 20 miles, and operates 31 miles of Col. & Sou., electrified, under
ORGANIZATION.—Reorganization
8>eo. 1908 the Chicago Burlington A
_
V. 87
Federal
-
p.
950; V. 89. p. 934.
1st
1
4
4 yrly
4
4
„„
4
__
__
4 yrly
2 yrly
4
1
4
0
0
J
J
4
BONDS.—1st M.. see V. 68. p. 1027; V. 77. p.
None
2%
1917-20.
4
4
None
None
2158; V. 87, p, 444, 1160.
The $100,000,000 Refunding bonds of 1905 were made Issuable as follows:
For Refunding bonds and equipment obligations of system
$36,850,000
For betterments and Improvements, Including equipment, at the
cura. yearly rate of $o00 per mile of operated A controlled lines 15,000,000
For reimbursement of the treasury of the company, Ao
2.500.000
Tr (Jo, Boston
Guaranty Trust Co. N Y
Safe Dep
ATr Co. Bait
Mar. 10'212>s% Treasurer, Columbus, O
_Q—M
Met Trust Co, Boston
«i
A
J Jan 1 1944
J Jan
A
1 '21
3IH
1921
A
A Feb 1
A
O Apr 1 1843
A Feb 1921
A
J Jan
A
M 15A
S Mch
Manchester, N H
Co,Boston
Safe Dep A Tr
do
do
do
1 1941
15 1951
do
do
3%
do
Pa
Treas
RR
Union Tr Co,
Co. Phila
Pittsb, » a
M
&
S
A
A
O Oct
1 1949
Old Col Tr Co, Boston
A
A
Feb
1 1959
J P Morgan A
F
J
Sept 1 1930
See text
D Deo
&
Co, N Y
Checks mailed
See text
Q.-M.
Q.-M.
do
•
Farmers' L A T Co. N Y
11925
Stock, all outstanding, com., $1,200,000; pref., 5% non-cum., $800,000
Div. 5% on pref., paid Feb. 1907, June 1908 and
On oom., 2%, Sept. 1908.
Sinking fund to retire first mtge.
bonds yearly at 110 for first 15 years, then at 107 H for 5 years, then 105 foi
next 5 years, 102 H for 3 years, thereafter at Dar.
V. 76, d. 345.
Pres., Hale Holden.—(V. 110, p. 1748, 2657; V. Ill, p. 389, 1851.)
Nov. 1 1909.
.
(THE)
COLORADO
WYOMINO
COLUMBIA NEWBERRY
&
RY.—See page 140.
EASTERN
& LAURENS RR.—Columbia to Laurens.
S. O., 75 m.
Stock, $500,000.
Bonds were 6s, but reissued as 3s io 1900,
Income certificates to amount of 40% of bonds being Issued.
Bonds issued.
$899,000; In treasury $11,000.
At last accounts
$359,600 5% non-cum. certfs. for funded coupons.
signed in Aug. 1919. V. 109, p. 317.
also outstanding
Co-operative contract
had
Net.
Other Inc. Charges. Surplus.
$152,578
$15,258
$113,212
$54,624
191.925
11,242
83.394
119,773
J. B. S. Lyles, Pres.; J. P. Taylor, V.-P. & Gen. Mgr., Columbia, S. C.
Year ending Dec. 31—
1920
1919
'05. '06. '07. '08-T1. '12. *13. T4-*15. 1916.
\
pref%...
2d pref. %'_
Common %
1919 coupon unpaid
1918 coupon unpaid
American
Par of shares, $100 each.
Compensation.—$2,833,579 yearly during Federal control
DIVS.
Oct
J July 1 1929
J July 1934
July 1 1944
j"&"j July 1 1937
i'
Leases Colorado Springs A Cripple Creek Dist. Ry., 74 miles (owned) to
Cripple Creek Central Ry., but rental remaining unpaid, the former was
placed in receiver's hands in May 1919. V. 94, p. 123.
In April 1906 acquired a one-half Interest in tne Trinity A Brazos Valley
Ry., owning a llnerrom Cleburne to Houston, Tex.,236 miles, with branch to
Waxahatchle, 67 miles. The suit against Ch. R. I. A Pac. Ry. to compel
payment of latter's share of cost of building the T. & B. V. Ry., was settled
Dec. 23 1918. V. 109. p. 672; V. 108. p. 378. 479, 1610; V. 103, p. 2428.
flee that co. and V, 98, p. 1920.
Jan
1942
1
Where Interest and
Dividends are Payable
1 1930
J Jan
A
<
lease
Places
Dividend
Road
COMPANIES
&c.t
[VOL. 112.
BONDS
RAILWAY STOCKS AND
46
Cross.
$696,612
653,904
XENIA RR.—Owns from Columbus, O.* to Xenla, O.,
Operated as a division of the Little Miami, and is leased for 99
from Dec. 1869, In connection with that road, to the Pittsburgh Cin¬
cinnati Chicago A St. Louis, which pays 8% on stock
The lease is guar¬
anteed by Pennsylvania RR. Co.
Since Sept. 1913 to Mar. 1921 Incl.,
the quarterly divs. In Sept. and Mar. have been 2 1-5%, making the yearly
div. rate 8 2-5% —(V. 72. p. 532.)
COLUMBUS &
65 miles.
years
CONCORD & MONTREAL RR.—See Boston & Maine RR.
CONCORD & PORTSMOUTH RR.—Owns Portsmouth, N. H. to Man¬
H., 39.82 m.
Leased to Boston A Maine RR. in 1862 for 99
chester, N.
rental $25,000; 7% on stock and org. exp.
For acquisition of additions (incl. double-tracking)
45,650,000
The Refunding bonds are secured by a first lien on all the bonds andprao-
years;
fcioaily all the stook of the cos. owning about 706 miles of road. Including the
Wichita Valley lines and the Trinity A Brazos Valley Ry.; also, by direot
ea, subject to the first mortgage, on about 1,002 miles of road owned by
the Colorado A Southern and on the stook of subsidiary oos. whose bondi
Oper. by Boston <k Maine.
to Canada Line,
pledged under the mortgage, owning 556 miles of read, maklns
,604 additional miles, on whloh there are outstanding $30,174,900 under
tying bonds; total thus oovered, 2,304 miles, on which the total outstanding
funded debt, Including these bonds and all prior liens, averaged $26,471
per mile.
V. 80. p. 1791; V. 91. p. 462. 214; V. 93. o. 1021.
Of the Fort Worth A Denver Terminal bonds, $300,000 sold and $428,000
held bv Ft. W. & D. O. Ry.
V. 86, p. 52. 1100; V. 87. p. 949.
As to interest on bonds of the Colorado Springs A Cripple Creek District
fty., see that company below.
Equipment trusts Issued to Director-General for rolling stock allocated
fcthLs company.
See article on page 3.
are
not
Jan.
1921.
EARNINGS.—
$3,387,717
463,004
Gross
Net after taxes
Jan.
1 -Mar. 31
1 -Dec. 31
1920.
1920.
1919.
$3,429,287 $16,232,536 $12,976,643
727,745
2,532,472
1,743,158
REPORT.—Report for 1919, in V. HI, p. 384:
—Col.
South.
Col. &
1917.
Ry.
1918.
expenses.
$7,089,509
$6,383,947
6,841,932
2,845,530
389,129
36,457
250,723
6,347,780
2,861,164
475.389
67,432
216,260
(4)340,000
(4)340.000
(4)340^666
(2)170.000
$696,371
$2,640,093
$2,265,127
$3,424,789
2,481,212
4,206,687
2,105,095
127,249
2,481,212
3,878,892
2,160,018
126,242
pref. stock..
2d pref. stock
190,395
(4)340,000
(4)340,000
Bal., surplus for year.
$1,103,946
Net
earnings
Federal
compensation
Total net income
....
Interest charges
Rents, &c
Sinking funds
Additions & betterments
Miscellaneous
Div. on 1st
Div. on
Sou. System—
1916.
1,100
1,101
1,841
1,842
-$12,976,644 $12,947,688 $18,685,810 $16,469,279
10,711,517
9,522,898 11,596,301
10,085,532
Total oper. revenues
-Operating
&
1919.
Calendar Years—
Average miles
280.220
500.000
(4)340,000
$1,993,575
OFFICERS.—Pres., Hale Holden, Chicago; V.-P. & Gen. Mgr., Robt.
Rice; V.-P., J. H. Bradbury,
Denver, Colo.; Sec. &
Treas., B. F. James;
Asst. Sec. & Treas., T. S. Howland, Chicago.—-(V. 110, p. 359,1088, 2291.)
COLORADO SPRINGS & CRIPPLE CREEK DISTRICT RY—Colorado
Springs to Cripple Creek, Col., 47 m.; branch, Cameron to Victor, 5 m.r
^>ther branches and spurs, 22 m.; total, 75 m.; of whloh 57 m. steam, 16 m
■team and electrlo and 2 m. solely electric.
In Jan. 1905 Colorado A
Southern acquired all the stook exoeDt $900 com.
V. 80. o. 472,1111, 1423.
'Leased to Cripple Creek Cent. Ry. system in 1912 (V. 94, p. 123), but the
■rental due having been in, default since May 1 1918 the lease was terminated
April 22 1919.
George M. Taylor, Colorado Springs, was appointed re¬
May 10 1919 at the request of the bondholders' committee. V. 108,
2022.
The burning of a bridge in May 1918 temporarily put the main
line out of commission, but this having been repaired operations were begun
again July 15 1919, but, proving unprofitable, operations were again sus¬
pended in 1920.
Receiver's certificates for $50,000 for two years at 7%
Issued June 15 1919 to replace the bridge, &c., have been paid off.
V. 108,
p.
170, 479, 2528.
In Nov. 1920 foreclosure proceedings were under way and a suit for
$1,000,000 damages, &c., had been instituted by the receiver against the
(former lessee and others.
.
On Oct. 1 1918 the interest on the $1,379,000 First Consols and on Jan. 1
1919 the interest and sinking fund on the $1,255,000 First Mtge. bonds went
unpaid.
In Aug. 1919 the Central Union Trust Co., N. Y., declared the
principal of 1st M. 5s immediately due and payable.
V. 109, p. 887.
Committee: (a) For 1st M. 5s (majority deposited):
James Timpson
f2d V.-Pres. Mutual Life Ins. Co., N. Y.), Chairman; Central Union Trust
Oo.t depositary,
(b) For 1st Consols (majority deposited): F. J. Lisman
<af N. Y.. Chairman; N. Y, Trust Co., depositary.
V. 108, p. 170, 378.
*79. 578. 2433, 2528.
ceiver
i>.
*
CONNECTICUT & PASSUMPSIC RIVERS RR.—White River Jet., Vt.
110 m.; leases 999 years Massawippl Valley, 37 miles.
Owns all the stock ($350,000) of the Newport A Richford RR., New¬
port, Vt., to Canadian line, 21 miles, operated under lease by Montreal
A Atlantic Ry. (Can. Pac. system), and guarantees Its $350,000 1st 30-year
V. 91, p. 946.
5% bonds dated Jan. 1 1911.
merged
the stock.
LEASE.—From Jan. 1 1887 leased to the Boston A Lowell (now
with Boston & Maine) for 99 years.
Rental is 6% per
annum on
SECURITIES.—Massawippl stock receives same dividends as stock of
lessee and $400,000 of It (not Inoluded In the amount outstanding) is pledged
part security for 4s of 1893.
Of the $2,500,000 pref., $700,000, as also
$100,000 Massawippl Valley Ry. stook, was purchased Feb. 1 1910 by th«
Vermont Valley.—(V. 106, p. 395.)
as
CONNECTICUT RIVER RR.—See Boston A Maine RR.
6
Phila.,
Glrard Ave. to
Chestnut Hill, 7 m.; branches,
(PHILADELPHIA).—Owns from
RY.
CONNECTING
Frankford
m.;
North
Phila.
to
V.103, p.1508. Stock authorized, $5,800,000; outstadding, $4,116,050. of which $3,825,350 owned by Penn. RR. Dec. 31
1920, which operates road under lease assigned to that company by Phila.
& Trenton RR., terminating Feb. 18 2802.
Dividends 4% yearly (J. A D.).
In 1911 made a new 1st M. for $15,000,000, guar., p. A L, by Penn. RR.
V. 103, p. 1508.
V. 93, p. 229, 730; V. 98. p. 522, 610.—(V. 103, p. 1508.)
Ac., 23 m.; total, 36 m.
CONNELLSVILLE & MONONGAHELA RY.—Owns Moser Run Jet.
15.68 miles; branches and spurs, 6.75 m.; total track,
miles (connecting Penn. with Monongahela Ry.).
Incorporated in
Penn. Mar. 11 1995.
Leased to Penn. RR. until Jan. 1946 at rental equal
to 4% on cost of road, taxes, operating and maintenance charges, rental
being more than sufficient to pay interest charges and retire principal of
bonds through sink, fund at or before maturity.
Sink. fd.. $25.000 yrly.,
to call bonds In numerical order, but to be kept alive. V. 93. p. 407. Stock,
$700,000.
Controlled by or in interest of U. S. Steel Corporation. Pres..
W. H. Clingerman; Sec. and Treas., J. D. McCreery.—(V. 99, p. 400.)
to Brownsville, Pa.,
22.43
COOPERSTOWN
&
CHARLOTTE
VALLEY
RR.—Entire $45,000
capital stock owned by Dei. & Hudson Co. (V. 77, p. 88), which also owns
$269,000 (87 %) of the $307,400 outstanding stock of Cooperstown A Susque¬
hanna Valley RR. Owns Charlotte Crossing to Davenport Centre, 3. 96 m.;
leases for 99 years
erstown to
from Apr. 15 1891 Cooperstown A Susq. Val. RR., Coop¬
Charlotte Crossing, with branch to Cooperstown Jet., 19.79 m.
COPPER RANGE RR.—Calumet, Mich., to Mass City,with branches,
total, 93 m.; side tracks, 41 m. Lease iMohawk RR. to Gay, 15.84 miles,
with branches, Ac., 1.66 m.
Stock, $4,817,400, all owned by Copper
Range Co.
$15,000 per
Bonds limited to $20,000 per mile of main line and branches and
mile of sidings.
Dividend. 10%, paid Nov. 1909 from ac¬
cumulated surplus.
"Standard return" subject to adjustments, $222,781.
Pres., William A. Paine; V.-P., F. W. Denton; Sec. & Treas., F. Ward
Paine, Boston.—(V. 107, p.
695, 1192.)
COPPER RIVER Si NORTHWESTERN RY.—Owns from Cordova,
Alaska, on tidewater, through the Copper Rive? Valley to Kennecott, 197
miles.
Kennecott Copper Corporation (V. 101. p. 1889) in Dec. 1915
acquired all of the outstanding securities, $4,817,400 stock and $23,020,000
1st M. 5s.
In 1919. gross revenue, $1,145,662; net after taxes, def., $177,895.—(V. 106. p. 395.)
"COTTON BELT."—Common name for St. Louis Southwestern Ry.
CRIPPLE CREEK CENTRAL RY.—Owns Cripple Creek A Colo. Spgs.
through ownership of all theirstock: (Miles):
Colorado Springs to Cripple
Creek 56.3 miles, of which 29.40 miles from Divide to Cripple Creek
is owned and the remaining 26.9 miles is trackage over the Colorado
Midland Ry. (being the only service on that company's system in
Oct. 1920); branches and spurs, 32.12; total (V. 106, p. 2228; V.
105. p. 998)
88.42
Cripple Creek & Colorado Springs—Main line in Crip. Creek Dist.,
2.06; B. & S., 3.37; total, standard gauge (V. 106, p. 2756)
5-43
RR. and Midland Terminal Ry.
Midland Terminal Ry.—Operating from
Total system Dec.
1919 (including spurs, &c.)
Reorganization (per plan in
A Southwestern,
93.85
V.78,p. 2018; V. 77. p. 1542,) of the Denver
V. 79. p. 1461; V. 101, p. 1184.
foreclosed Oct. 4 1904.
RAILWAY
MAY, 1921.]
COMPANIES
RAILROAD
[For abbreviations,
STOCKS AND BONDS
Miles
Date
Par
Amount
Rate
When
Last
Road
&c., see notes on page 6]
Bonds
Value
Outstanding
%
Payable
and
Cuba RR—Common stock $20,000,000
Preferred stock 6% non-cumulative $10,000,000..
100
602
1902
1910
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1.000
$ & fr.
1914
1915
1915
1916
c*
due $85,000 semi-ann
1,000 Ac
1918
12.9
1920
1908
48
1910
1871
1871
1881
1899
i§92
i905
14
57
1874
1892
Equip 1st Hen bonds $10,000,000 g s f__Usm.xo* Ar
8ecured gold bonds
Usm. c*Ar*
1908
1915
1907
1920
Equipment gold notes Series "A" due $260,800 ann
A
O Apr
Payable
Guaranty Trust Co, N Y
Montreal!, Canada
1940
1921
Apr 1921
Q—J
A
J Jan
J
A
1 ^ Cincinnati, O
do
2%
J P Morgan A Co.
J July 1 1949
11931
■
-i
n
N Y
Farmers' L A Tr Co. NY
MAS March 1 1924
J
A
J Jan 1 1921 4%
Bayonne, N J, MechTrO
Checks mailed
Treas Pa RR Co, Phila
8
Q—F
May21 1921 2% 11 W State St., Trenton
A
A Aug 1 1955
3 H g F
Mech Nat Bk,Trenton,NJ
K J
42,503,000
500,000
1,000,000
32.204.000
9
14,451,000
6,029.000
10,000,000
100
100 Ac
1,000
1,000 Ao
600 Ac
1.000
500 Ac
O Oct
J
8
5 g
1920
Convert bonds gold red text
Where Interest and
Dividends are
D June 1 1958
A
A
3 X
5
1,000
&
A
8
5.078.275
354,000
1,800,000
1,800,000
1,000
100
30*97
J
4H (5)
4 g
See text
25
113
7 g
2.401.950
1,211,250
2,727.000
354.000
1.000
£100
1914
5 g
5 g
1,142,000
50
245
Places
MAN Nov '21-Nov '26 Guaranty Trust Co, N Y
A
A
O Oct '21-Apr '30
5
1.028.000
1,000
See text
text
1.073,000
1.530,000
50
141
2
eold___
Cumberland Ry & Coal Co—1st M $3,000,000 g gu_
Cumberland Valley RR—See Pennsylvania RR
Dayton & Michigan—Com stock (3K% guar TolCinn)
Preferred (8% guaranteed Tol Cinn) endorsed
1st M gu p A 1 end ext In 1911 red 102 H beg 1917.0
Dayton Union Ry—First mtge sink fund oall par._Fx
Death Valley RR—First M call 105 s f begin In 1916
Delaware—Stock 8% guaranteed
General mortgage gold
FP.xc*
Delaware & Bound Brook—Stock 8% gu Phila A Read
First consol M $1,800,000 guaranteed._PePxo*&r
Delaware & Eastern (foreclosed)—See Del A Northern
Delaware & Hudson—Stock $55,711,500 (text)
Schenectady A Duaaesburg first mortgage
z
Adirondack 1st M gold guar p A 1 ead___U8.zo* Ar
1st ARefM $50,000,000 g s f red 107 H beg'18-xo* Ar*
Cumberland RR—1st M $3,000,000
Dividend
Maturity
•
Seeltext
A
A Aug 1 '20,
10,000,000 6 in 1920 F
3% Checks mailed
J
&
J July 1 1952
5 g
13.170.000
Royal Bk of Can, N Y
MAN May 1 I960
5 g
do
4,000,000
do
6 g
MAN15 Nov 15 1922
2,000,000
Fidelity Trust Co, Phila
F
A
A Aug 21-Feb *24 Montreal Tr Co, Mon
5
258,000
J
A J21 July 21-Jan '25 United States Tr Co, NY
5
220.000
J A D 15 Dec '21-Dec *25 United States Tr
5
360,000
Co. NY
iSee
$100
First mtge gold $20,000 per mile
-G.xo*Ar*
Impt A equip M g $12,000 per m
Nxo*
Secured gold notes
(extended)
FP.c*
Equipment trust certs., due $43,000 semi-ann
do
due $28MA$27M s-an(V100,p.473)_Us
do
due $40,000 seml-ann
Us
do
due $98.000 and $97.000 s-an g
do
47
A
J July
1 1932
June20 1921 2H Offloe 32 Nassau St, N Y
Q—M
MAS Sept 1 1924
1 1942
do*
do
do
do
MAN May 1 1943
1 1935
A
A
O Oct
6 g
do
do
do
do
do
do
do
do
g MAS Mch
4H
4
4H g J
A
J July 1 1922
D June 11930
7 g
J
A
3,651,200
6
J
A
J Jan 15 1922-35
300,000
1,300,000
800,000
10,000,000
4
J
A
J Jan
4
J
A
5
J
A
do
do
do
ao
Guaranteed Bonds—
Co 1st M g gu.zc*
N.xc* Ar
Chateaugay Ore & I Ref mtge oall 105
Utlca Clinton A Binghamton RR 1st M
Albany & Susquehanna RR 1st mtge
1890
Wllkes-Barre Conn RR 1st & impt mtge—
1917
Bluff Point Land Improvement
1,000
1,000
1,000
1,000
1902
1889
1906
........
Springs & Cripple Creek District Ry., 87.73 miles,
1919.
See that company.
A
J Jan
J July 1 1939
O
April 1 1946
MAN May 1 1947
5
1,093,000
The lease of the Col.
terminated April 22
3H g A
11940
1 1942
•
do
do
N Y Trust Co, New York
Office. 32 Nassau 8t. N Y
do
do
CUMBERLAND RR.—Artemus
to
Wheeler, Ky., 10.2 miles, and
Lansford to Anchor, Ky., 2.7 m.; total, 12.9 miles.
Incorp In Kentucky
1902. Stock auth., $100,000; outstanding, $20,990; par, $100.
Bonds
In
AND BONDS.—Com. stock, $2,500 000; 4% non-oum. pref.
$3,000,000: par of shares. $100.
V. 82. d. 1156; V. 85. p 1209
$326,000 First Mtge. bonds of the Florence & Cripple Creek RR.
Co., assumed and guaranteed by the Cripple Creek A Colorado Springs
RR.Co. and owned by Cripple Creek Central Ry.Co.were paid during 1918.
The company still owns $319,000 of these bonds and $175,000 bonds of
the Cripple Creek & Colorado Springs RR.
STOCKS
stock.
'09. '10. '11. '12. *13-15.
DIVIS.— '07. *08.
3
Com., %6
0
0
0
0
Pref., %
44444
4
4
In Feb. 1916 an extra dividend of 10%
'16.
15
4
i
'18.
6
3
44
'17.
1919-20.
See text
See text
declared with the quarterly
1%, on common stock, both payable March 1.
In Sept. 1918 the common
dividend was omitted, but the usual pref. dividends Nos. 52 and 53, 1%
each, were paid Dec. 1918 and March 1 1919.
was
capital distribution (No. 9) of 1% was paid on the preferred stock
1 1921 "out of funds heretofore realized from sale of capital assets."
previous quarterly distributions each of 1 % have been made from
capital assets, No. 1 June 1 1919 and No. 8 on Mar. 1 1921.
The present
distribution, it is understood, will reduce the face value of the Pref. shares
A
June
Seven
($3,000,000 auth. issue) outstanding $1,028,000.
Year ending Dec. 31
1917, gross, $40,628; net, aft. taxes, Pref., $1,967; int., Ac., $64,194;bal.
def., $66,150.
Pres., Fairfax Harrison; Sec. A Treas., F. S. Wynn,
DAYTON & MICHIGAN RR.—Owns Dayton, O., to Toledo June., O.,
1.06 m.; to freight
141.46 m.; trackage Into Toledo to passenger station,
house, 0.48
Leased May 1 1863 in perpetuity to Cin. Ham. A Dayton.
1870.
Rental Is maintenance of organization, int.
on pref. stock and 3H% on com.
Guaranty on pref. is
of 1871, but the pref. carries no voting power.
V. 56,
p. 813.
Mtge. of 1856 Is held alive under mtge. of 1881.
V. 91, p. 1446;
V. 92, p. 118.
Status of stock and bonds is undisturbed by plan of 1916,
by which!). A O. RR. took over possession, under lease, along with main
line of Cin. Ham. A Dayton.—(V. 92, p. 526.)
m.
Lease modified June 23
bonds and 8%
secured by mtge.
on
DAYTON & UNION RR.—Owns from Dodson, O., to Union City, Ind.,
31.74 m.; leases Dayton to Dodson, 15.30 m.; total operated, 47.04 m.
The Cleve. Cin. Chic. A St. Louis and Tol. A Cincinnati jointly own the
Year ending Dec. 31 1919, gross, $177,344: net, $10,449;
$2,483; charges, $25,314, bal., def., $12,382 —(V. 97, p. 236.)
$86,300 stock.
other Income,
••A
to $91.
REPORT.—Report for calendar year 1919 in V. Ill, p. 786, shows:
1918.
1919.
1917.
$114,194
$82,737
$25,420
Gross income
$8,944
$8,696
$7,401
General expense
—
5,416
11,313
TStXSS
'
Preferred dividend
a(l%)30,666 (4)120,000 (4)120,000
(3)75,000
(6)150,000
Common dividend
f
->
*»
m —
«.
Balance, deficit
In addition
preferred stock.
%
$90,000
CREEK
distributionof capital assets on
Sec., E. S. Hartwell; Treas., A. S. Gill.
Springs.—(V. 112,
CRIPPLE
a
it
&
p.
DIVIDENDS
(%)
On
SPRlNdS
RR.—See
.1910
3H
—
'11
4H
'12
5X
—
—
'13
6
4
'14
6
6
'16
6
6
'15
6
6
Jan., 20%; June, 25%.
'17-'20
6 yrly
V.103, p. 752.
annually Feb. 1; also Aug. 1 1918 on pref. a scrip dividend of 3%, and Feb.
1919 to Aug. 1920 paid cash divs. of 3% s. a.
The scrip due Feb. 1 1921
was called for payment Feb. 1 1920.
V. 109, p. 1986; V. 110, p. 77.
BONDS, Ac.—1st M. bonds application to list, V. 86, p. 924; V. 88, p.
451; V. 89. P. 162; V. 91. p. 38, 1253; in 1919 sold additional $1,150,000.
V. 108, p. 2329.
The 5% Improvement A Equip, bonds of 1910 are limited
V. 91, p. 588,1253; V. 95, p. 175.
Cuban Govt, to the company to
improvements. Ac., against services to be rendered, were reduced
from $1,974,438 to $1,320,068.
The company having purchased In Nov. 1915 the entire $2,000,000 cap.
stock of the Camaguey A Nuevitas RR. an Issue of $3,000,000 5% gold
notes was made.
These 5% notes were paid off Nov. 15 1918 and $2.000,000 2-year 6% notes issued, secured by pledge of all said stock.
V. 103,
p. 938, 752.
V. 107, p. 1095, 1481.
The notes were purchased by the
Cuba Co. and extended to Nov. 15 1922 at the same rate of interest.
to $12,000 per mile (excl. sidings) owned.
To June 30 1920 advances made by the
aid
in
REPORT.—For year end. June 30 1920, in
1919-20
1918-19
1917-18
Gross
Earnings.
$14,149,108
12,236,245
11,645,098
1916-17
6,452,108
June 30.
Years—
VALLEY RR.—See page 140.
DEATH
,
Leased to
1 1918 paid a scrip dividend of 3% on the pref. stk, redeemable
1921, or earlier at option of company, with 6% Interest payable
1
Stock,
Cripple
Feb.
Feb.
train basis.
,
COLORADO
Alsoon com. In com. stock In 1916,
on
on
Cambridge, Md., 32.96 m.; Massey, Md
to south of Chestertown, Md,.
20.52 m.; otner branches, 7.22 m.; total, 245.15 miles.
V. 67, p. 1356.
CUBA RR.—Owns from Santa Clara. Cuba, to Santiago de Cuba. 356
miles; Marti-Bayamo San Luis line, 141 miles; Trinidad lines, 56 m.; seven
branches, 106 m.; total June 30 1920, 659 miles.
STOCK.—The Cuba Co. (V. 105, p. 1993) owns the outstanding $15,800,000 common but only $1,000 pref.
V. 98, p. 1766; V. 96, p. 236. 663.
Preferred
between them
Office,
652.)
Creek Central Ry.
Common (In cash)
bonds and other expenses be divided
auth., $500,000; outstanding, $321,000, all common.
For year endine
Dec. 31 1920, gross, $15,742; net, def., $225,075; other income, $65,082;
int., rentals, &c., $42,574; bal., def., $202,567.
Pres., B. McKeen, St.
Louis, Mo.; Sec., S. H. Church, Pittsburgh, Pa.—(V. 89, p. 1347.)
DELAWARE RR.—(See Maps Pennsylvania RR.)—Shellpot Crossing,
Del., to Delmar, Del
95.20 miles: branches, Centrevllle, Md., to Townsena
n*i
34 Q8 m • Clavton. Del., to Oxford. Md., 54.27 m • Seaford. Del.
to
"
Pres.. A. E. Carlton;
Colorado
as
$207,272
$95,166
$11,980
1
paid
DAYTON UNION RY.—Union depot at Dayton, O.
Used by Pitts.
Cin. Chic. A St. L., Cleve. Cin. Chic. A St. Lo., Toledo A Cincinnati, Day¬
ton A Union RR. and Erie RR., under lease which provides that Interest on
Net
V. Ill, p. 1179, shows:
Interest
Income.
Charges.
$3,704,873
3,466,960
3,937,078
1,934,146
$1,264,705
1,269,640
1,311,488
1,140,715
Pref. Divs.
(6%).
$600,000
600.000
600,000
600,000
Balance,
Surplus.
$1,840,168
1,597,320
2,025,590
193,817
Pref. dividend of 3% ($300,000) on Feb. 1 1918 was paid in scrip.
Chairman, H. S. Rubens; Pres., Herbert C. Lakin; V.-P., W.. V. Griffin
and J. M. Gruber; Asst. to Pres., Wm. F. Lynch; Sec., Wm. H. Baker;
Treas., H. W. Snyder.
Office. 83 Montgomery St., Jersey City, N. J.;
52 William St., N. Y.—(V. 112, p. 61, 257, 1024.)
x
CUBAN CENTRAL RYS.—V. Ill, p. 989.
CUMBERLAND & PENNSYLVANIA RR.—Owns from Cumberland,
Md
d., to Piedmont. W. Va., and several branches, 51 miles.
Owned by The
Philadelphia Baltimore A Washington (which owns $2,704,600
of the stock) for 99 years from Moh. 1 1910 at a guaranteed rental of 8% on
the stock, a special stock dividend of 70% being paid Feb. 28 1910; also a
pedal cash dividend of 20% and an extra cash dividend of 5%
For
cal.
year
1919, rental, $428,614; other income, $42,837; charges,
$35,795; divs. (8%), $406,262; income applied to sinking funds, $35,793;
bal., def., $6,399.—(V. Ill, p. 389.)
DELAWARE & BOUND BROOK RR.—Bound Brook June. (Cent. RR.
N. J.) to Delaware Rlyar. 27.87 miles; branch to Trenton, 3.75 m.; East
Trenton RR., 3.05 m.; total, 34.67 miles.
Total track, including 2d, 3d
and 4th tracks, sidings, Ac., 123.33 miles. In May 1879 leased for 990 years
to Phila. A Reading.
Rental,
stock.—(V. 81, p. 210.)
$213,107.50, paying interest and 8%
on
DELAWARE & HUDSON CO.—See map.—Operates railroad lines from
Wilkes-Barre, Pa., via. Albany and Schenectady to Rouses Point, N. Y.,
on the Canadian line, with branches to Binghamton, Troy, Lake Placid,
N. Y., Rutland, Vt., and other points, a total of 909.61 miles (of which
341.46 owned In fee and 463.97 leased or controlled through stock owner¬
ship), viz.:
Steam Lines owned (341 m.)
Miles:
Oarbond&le to 8cranton,Pa.,A br. 22
Lines leased—*See these cos. Miles.
♦Albany A Susquehanna
143
190
28 ♦Rensselaer A Saratoga
Nineveh to Jefferson Jet., Pa
22 ♦Chateaugay A Lake Placid RR.. 79
J
52
OherryVal.Jct.toCherryVal.,N. Y. 21 Other leased lines
35
Schenectady to Delanson, N. Y.. 14 ♦Jefferson RR. (trackage)
Greenwich to Salem Jet., N. Y_„ 10 Boston A Maine (trackage)
37
32
Saratoga to North Creek, N. Y_. 57 Other trackage
Whitehall to Rouses Point, etc.-149
Total operated Jan. 1 1921
)ther lines owned
18
909
LookoutJct. toHonesdaleJct.,Pa.
...
-
Second track Dec. 31 1920,357.37 m.:
20.52
m.;
third track, 35.13 m.; fourth track.
yard track and sidings, 616.14 m.
Also leases Utlca Clinton A BIngh. and Rome A
which
are
Clinton RR., 44 miles,
sublet to N. Y. Ont. A W.
HISTORY.—Incorporated April 23 1823; name changed April 28 1899.
A leading miner and carrier of anthracite coal (V. 86, p. 913; V. 105, p.
AH coal produced from the company's mines Is sold at the pit mouth
to the Hudson Coal Co. (V.89, p. 1449).
The caual was abandoned and the
cost charged out in 1898.
The old "Gravity" road, built in 1829, was
broadened to standard gauge and opened for regular service In 1900.
The
companies taken In by merger Include: Adirondack Ry., Schen. A Duanesb.
RR.. N. Y. A Canada Ry., Cherry Valley Sharon A Albany RR.
Remarkable development of property in recent years; see official data, V.
108, p. 2035.
Physical condition under Federal control. V. 108, p. 2022.
2093.
Entire capital stocks owned: Quebec Mori?real A
Co., Greenwich A JohnsonValley Ry. Co.. United Trac. Co. and Troy A New
England Ry. Co.; (6) one-half the stock owned: Wllkes-Barre Connecting
RR. Co. and Schenec. Ry.
See list of stock. Ac., holdings, V. 106, p. 1893.
Coal prices in 1917.
V. 105. p. 767.
Anthracite rate case, V. 101, p. 2072;
Allied Properties.—(a)
Southern
Ry. Co., Naplervllle Junction Ry.
rllle By. Co., Schoharie
Treas., T. K. Stuart.—(V.
Federal
85, p. 1401; V. 108, p. 1610; V. 110. p. 1289.)
Comp.—$255,692 yearly during Federal control.
V. 112, p. 1977.
CUMBERLAND RAILWAY & COAL CO.—Owns road from Sprlnghill
Jet. to Sprlnghill Coal Mines, N. S., and Parrsboro on the Bay of Fundy.
32 miles; also coal acies, timber lands, Ac.
The Dominion Steel Corpora¬
tion late In 1910 arranged to acquire the $1,000,000stock, the$979,000 6%
bonds being exchanged for $1,167,000 5s guaranteed by Steel Corp. Issued
under a mtge. for $3,000.000providing for future requirements.
V. 91. p.
1629. 1766; V. 92, p. 18^, 1435; V. 97. p. 1583
Leased to Dominion Coal
Co.
Earnings included In report of lessee.—(V. 97, p. 1583.)
V. 102. p. 1357.
Albany A Susq. stockholders were held by higher Federal courts to be en¬
titled to the saving of Interest effected by the refunding at 3H% of the re¬
Issue of Albany A Susquehann
bonds. Increasing the yearly rental paid.
V. 85, p. 72 3
86. p. 1174. 1362, 2343; V. 88. p. 938, 1499; V. 89, p.
1068, 1141; V. 90. p. 911.
To Jan. 1917 $3,556,000 A. A S. bonds had
been exchanged for D. A H. stock.
See Albany A Susquehanna.
maining
RR.
Co.
$7,050,000 of the $10,000,000
7%
V. 83, p. 1036; V.
j
48
RAILWAY STOCKS AND BONDS
[Vol. 112.
MAY, 1921.]
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations, &c., see notes on page 6]
Miles
Road
Delaware Lacka & Western—Stook auth $42,277,000
Baneor A Portland mcrtgaeref gold
*
Del River RR & Bridge—1st Mggup4 1 sf l%QP.xc'
Denver & Rio Grande—Stook common (see text)_.Tr
Date
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
and
Q—J
Apr 20
550 542,277,000 20 In *20
'80-'86
100
1898
1908
1912
Bonds
2.541
2,641
1,647
699
699
1888
180
6 g
J
A
4 K
F
A
49.775.670
A
Cex
Ce.xo*
62
110...Qz
Pleasant Valley Coal 1st M s f redeem at 115
Salt Lake City Union Depot & RR—See that
Gz
1898
v
Sinking Fund.—The sinking fund, created May 9 1899 and amended
May 10 1910. receives out of the yearly net profits not less than 5 cents
ton
DIV8.—
Since
/ *87. *88. '89 to '96. '97 to '00. *01 to '06. '07 to June 20'21
1886..% I 5
6
7 yearly.
5 yearly.
7 yearly. 9yrly.Q-M2>£ %
BONDS, &c.—Equip. 4*4s of 1907, V. 84. p. 1247, 1307; V. 85,
p. 1082,
On May 12 1908 tne stockholders authorized a First and
Refunding Mort¬
gage for 550,000.000. bearing not over 4% Int. and
running 35 years, and
subject to redemption as an entirety only at 107 H on any Int.
day, beginning
May 1 1918.
One per cent of the amount of bonds outstanding Is to be
paid
to the trustee June 1 annually from 1909 to
1942, to be used to purchase
bonds or for improvements and extensions.
Of the Issue, 56,500.000 are
reserved to retire outstanding 1st M.
bonds; V. 86, p. 98, 1409, 1589; V. 87.
p. 96.480.1419, 1604; V. 89. p. 847. 1541; V. 90, p. 51,167; V. 92. p. 186.
394; V. 96. p. 1156. 1700: V. 97. p. 1024; V. 98, p.
1168,1844; V. 99. p. 48.
The stockholders on Sept. 30 1915 authorized the
issuance of 514,451,005
20-year 5% bonds, which were offered to stockholders. The bonds
may at
option of holders at any time after Oct. 11917 up to Oct. 11927 be converted
into paid-up shares of capital stock at the rate of
$1,500 bonds for ten shares
of stock (with an adjustment of Interest and
dividend).
The entire issue,
hut not a part, may be called for
redemption on Oct. 1 1922. or on any
semi-annual interest day thereafter, on 90
days' notice, at 105 and int.
but if so called during the conversion
period the bonds may be converted
up to 30 days prior to such call day.
v. 101, p. 773, 1092; V. 102, p. 800
1356; V. 104, p. 1044; V. Ill, p. 2323.
The $10,000,000 7% secured gold bonds of
1920 are secured by deposit
and pledge with trustee of the
following: (1) $10,000,000 Del. & Hudson
1st A Ref. 4s of 1943; (2) $3,500,000
Albany & Susq. RR. 1st 3^s of 1946;
&
Saratoga
to
this
31—
1921.
326,531
1732,
Year ending Dec. 31—
1920.
Gross operating revenues
Net operating income
Federal compensation guarantee
Other income
Gross
income..
$45,354,299 $34,749,709
1,818,567
1,664.354
.
.
5,621.164
-..$10,431,017 $10,530,619
5.497.854
5,925,615
Deductions
$4,933,163
—
$4,605,004
OFFICERS.—L. F. Loree, Pres., N. Y.
City; W. H. Williams, C. A.
Peabody, N. Y. City, F. P. Gutelius, Albany, C. S. Sims, Montreal. VicePresidents; J. T. Loree, Albany, Gen. Mgr.; W. B. Schofield, Asst. to Pres.
& Asst. Sec.; F. M.
Olyphant, Sec.; and W. H. Davies, Treas., N. Y. City.
of Managers.—Chauneey M Depew, Charles A. Peabody, Leonor
Loree, Cornelius VanderbJt, William A. Harriman, Percy H, 8tewart,
William
S.
Opdike, E. H. Outerbridge, all of N. Y.; George I.
Wilber,
Oneonta, N. Y.; Robert C. Pruyn, Albany, N. Y.; William H.
Williams,
Plalnfield, N. J.: Henry W. De Forest, Oyster Bay, N. Y.; Charles S. Wes¬
ton, Scranton, Pa.—(V. 112, p. 744. 1732, 1750, 1865, 1977.2082.)
^DELAWARE LACKAWANNA & WESTERN RR.—Operates main line
from
Hoboken, N. J., opposite N.
with branches to anthracite region,
Lines
Owned—
Y. City, to Buffalo, N. Y., 410
Ac., 547 m.. viz.: (*see this co.)
Miles.
N. J. .State line to N. Y. line
111
to Northumberland
80
Erie A Centra N.1Y.(V.96.p.202) 18
Branch
Baneor
Other
A Portland
lines
Ry
38
owned
9
Lines Leased—(See each co.)—
•Morris A Essex and leased brchs.176
*N, Y. Lackawanna A Western..214
•Cayuga
Greene
A
Susquehanna
Railroad
Lines Leased (Concl.)—
♦Oswego A Syracuse
•Syracuse BInghamton A N. Y—
•Utlea Chenango A Susquehanma
•Valley RR. of New York.
•Lackawanna RR. of N. J
m.,
Miles.
..
—
35
81
97
11
28
Lines Controlled and Operated—
Sussex
Railroad
31
Lackawanna A Montrose RR....
11
34
;
8
Total operated
980
In June 1909 tne
D. L.
authorized stock, to act
as
vania, the railroad
selling agent for the company's coal in Pennsyl¬
stockholders being permitted to subscribe for Its stock
See extra dividend below, also that company's caption under Miscel. Cos.
United States 8upreme Court on June 21 1915 in the suit
brought by
the Government held that the company, under the contract of
Aug. 2 1909
violated the commodities clause of the Hepburn Act and the Sherman anti¬
trust law (V. 106, p. 2114: V. 101, p. 17), In Its relations with the D. L. A W.
Coal Co.
A
new contract
has been arranged.
V. 101, p. 47.
In May 1917
over Morris A
Essex lease was settled, the guaranteed dividend on
M. A E. stock being increased from 7% to 7Ji %
p. a.
V. 104, p. 2116
suit
its
stock¬
Jan. 1—Dec. 31
1920.
1921.
Gross
1919.
Total net income
Hire of equipment.
Compensation
to
7,547,859
5,260,235
6,503,942
7,237,863
6,946,297
1,608,925
5.752,341
2,440,290
$25,446,520 $25,879,646
$22,367,160
5 308,464
_
employees
$5,330,712
2,509,679
*Coal Department—
Gross earnings
1919.
347,282
1,710,374
305,033
426,240
8,444,455
$5,230,999
.
surplus
$6,148,961
869,556
111,301
1.122,917
57,701
1,818,568
8,444.110
...
Miscellaneous debits
Dividends (20%)
x
1918.
$71,824,047 $68,740,076
.
Interest and rentals
Renewals and betterments
z
1919.
$19,055,523 $19,009,846
32,839,878
31,287,554
12,380,787
11,204,813
z$8,373,879y$17,324,424x$14.174.529
Net, after taxes
Coal department (net)
Other miscellaneous Income
$7,627,745
1918.
1917.
.$44,325,488 $39,859,767 $34,391,801
$6,143,646
1,458,323
735,444
981,661
214,035
8,444^080
$4,389,972"
1916.
$267627,148
Includes 2 mos. Federal
comp. and 6 mos. Govt, guaranty.
Only 90% of the standard return is included in income
of 1918.
y
Includes 10% of compensation for
year
OFFICERS.—Pres.. W. H. Truesdale;
V.-P.
A Gen.
1918.
V.-P. A Gen. Mgr., E. M. Rine;
Counsel, W. S. Jenney; V.-P., P.
W. G. Van de Water;
Aud., R. B. Ferguson.
J.
Flynn; Sec. A Treas.
BOARD.—W. 8. Jenny, Wm. H.
Moore, Henry A. O. Taylor, Wm. H.
Truesdale, Geo. F. Baker, Wm Rockefeller, Geo. F. Baker
Jr., M, Taylor
Pyne, Henry R. Taylor, N, H. Dodge, Beekman
Winthrop, William
Fahneatock. Harold S. Vanderbllt. J. F. Talmage.
Office, 90 West St..
N. Y.—(V. 112, p.
161, 848, 17 10, 1865, 2190 )
DELAWARE & NORTHERN RR.—East Branch
N. Y. Oct. 14 1911
and 8-mlle branch.
Inoorp. In
Del. A Eastern RR., foreclosed
Arkville, 38 miles,
to
as
a reorganization of
plan V. 93. p. 588.
Stock, common,
$1,000,000; 0% cum. prof., $250,000; par,
$100. No bonds.
For year ending Dec.
31 1917. gross, $133,160: net. after taxes.
$12,619;
rental and fixed
charges (net), $8,598; bal., $4,021.
For year 1918, gross,
$135,700; net loss after taxes, $9,724; rental A fixed
charges, $6,850; def.,
$16,574.
Accrued pref. divs. for 1913 amounted to
$15,000.
Pres., An¬
drew M. Moreland; Sec. A
Treas., Howard Feist: Asst. Sec. A Aud., H. G.
Eckert.
Office, Margaretvllle, N. Y —(V. 96, p. 1725.)
DELAWARE RIVER RR. A BRIDGE CO.—Frankford Jot.,
Pa., to
Haddonfield, N. J., and branches. 9.52 mi]f«.
Capital stock, $1,300,000, all owned
by Penn. RR., which guarantees
bonds, prin. A int., by end., and in
April 1918 had arranged to take a lease
of the
property, paying as rental a sura equal to 6% on the stock, taxes and
fixed charges.
V. 106, p. 2228; V. 63. p. 1062, 1159; V.
89, p. 1596.
Di VS.—
*06-'07.
*08.
'09-T0.
11.
*12-'13.
'14.
15.
1916-20.
Per cent.... 5
y'ly
6
6 y'ly
6
6 y'ly
4
4
6% yrly
—(V. 101. p. 2071; V.
102, p. 1540; V. 106, p. 2228.)
per
DENVER BOULDER & WESTERN RR.—See "Railway and Industrial
Section
HISTORY, Ac.—Chartered
in 1832, present title assumed in 1853.
A W. Coal Co. was
incorporated with $6,800,000
notified
$60,000,000 for the
$20,228,483
40,132,599
13,868,517
9,110.462
.
Federal compensation
Board
F.
freight
Passengers
Mail, express, Ac
5,445,404
3.420 861
2,991,287
..
Net income
1919.
do
$83,340,061
Merchandise
$8,243,854
def821.557
1750:
do
Jan. 1—Mar. 31
1921.
1920.
Coal
Balance,
p.
Y
increasing the capitalization by
Maint.ofinv.org
1920.
$11,309,525
N
do
$10,445 ,000, incl uding $7,005,00
Expenses prior to Jan. 1 1918
Railway tax accruals
Net after taxes
do
$20,230,944 $17,835,534 $81,907,747 $71,824,047
Net after taxes
980,013 def.549,682
4,613,297
12,287.411
ANNUAL REPORT.—For 1920 showed:
Federal Contract,
$7,480,204.
Government loan, V. Ill, p. 692, 1851.
112,
x
do
Coppell,
Guaranty Trust Co, N Y
Gross
1865,1977.
1920 in V.
$1,445,000;
do
Maltland,
yearly during Federal control.
for rolling stock alio
See article on page 3.
signed in Dec. 1919, fixes annual compensation at
REPORT.—For year
5 g
A
D Deo 1 1939
MAS Mob 1 1931
J
A
J July I 1928
EARNINGS.—
company.
EARNINGS—Jan. I—Mar.
Gross
J
July 1 1940
1905.
1906-08.
1909.
1910 to Apr.
1921.
1903. ..(%)! 17
19J*
20 yearly
70
20% yrly.—see below
Dividends previously 244% Q.-J. (10%
p. a.) and 10% extra December
were In 1918
changed to 5% each quarter, the annual rate remaining20%.
July 1909 paid special cash dividend 50% one-half applicable. If
desired,
to subscription of stock of new D. L. A
W. Coal Co. selling agency; also
paid 15% stock dividend Aug. 2 1909 and In Deo. 1911
35% In 4% guar,
stock of Lack. RR. of N.J. V. 89.
p. 41,224: V. 93, p. 1323: V. 94, p. 549.
Federal Compensation.—$15,749,477
Equipment trusts issued to Director-General
catea
£ *
5 g
J
A
DIVIDENDS—/1904.
jointly and severally, by endorse¬
RR. and Delaware & Hudson Co. ; (4) $500,000
RR. Guaranteed stock: (5) $400,000 Albany &
V. 112. p.
J
Guaranty Trust Co. N Y
Since
Susq. RR. Guaranteed stock.
1941.
4 g
1 1949
road's anthracite coal
properties and that a contract of sale will be executed
if approved by the stockholders.
Compare V. Ill, p. 1277, 1751; V. 112,
p. 1740, 1865, 2190.
Proceeds were used to provide funds for the
payment at maturity of
$9,000,000 3-year 5% Secured Gold notes, due Aug. 1 1920, and for other
corporate requirements.
Guarantees interest on $2,000,000 Rensselaer &
Sartaoga 1st Mtge. 6s,
due May 1
O Apr
to $87,277,000.
The company has also
holders that the Glen Alden Coal Co, of Pa. has offered
(3) $1,000,000 Wilkes-Barre Connecting RR. 1st &
Improv. 5s, due May 1
1947 (principal and interest guaranteed
Rensselaer
A
$45,000,000
•
ment, by Pennsylvania
A
&
V. 100, p. 1509.1832; V. 102, p. 1896: over Syr.
Bing. A N. Y. lease. V. 103.
p. 1980.
Anthracite rate case. V. 101, p. 2072; V. 102, p. 1357.
Govern¬
ment regulation of coal prices in 1917. V.
105, p. 767, 2412, 2293. 1961.
The company on Sept. 17 1920 submitted to the
I.-S. C. Commission a
plan for the segregation of its coal properties and the operation of its
mines
owned, as distinct enterprises from its railroad
properties.
The Comission,
in April 1921 authorized the
company to issue $45,000,000 common stock
to be distributed as a stock
dividend.
A special meeting of stockholders
has been called for July 21 1921 to vote on
per
coal
mined, and has accumulated $7,040,908 from 1900 to 1920, which
amount has been
applied to the purchase and retirement of $1,288,500 of the
capital stock (in 1900 to 1906) and in part to the purchase of coal lands in
the Wyoming and Schuylkill regions.
on
2.277,000
2.000,000
486,000
897,000
Co.
Additional amounts held In treasury or by trus tees D ec.3 19 20.
viz:
pledged under adjastment mtge.: y $1,395,000.
v-x-y
do
A
A
7
10,000,000
8,335.000
1,000 Ao
15,190,000
1,000 Ac yl5.080.000
500
1889
1901
New York
do
Penn RR Cp. Phila ANY
4 g
A
A
5g
$,£,m.Ac
1,000
1,000
1,000
1,000
St,
Payable
J Jan 16 1911 2H
Office, 165 B'way, N Y
J Jan
1 1936
National Park Bank, N Y
J Jan 1 1936
do
do
A Aug 1 1955
Bankers Trust Co. N Y
O Apr 1 1932
Apr '21 int. paid at mat.
D June 1 1928
National Park Bk, N Y
J July 1 1939
4 g
4 H
6.382 000
mks x31,616,000
A
West
J 1930-1936
are
5*
4 g
Ao v34,125,000
1,000
5
Where Interest and
Dividends
5% 90
A Aug 1 1936
500
1890
1889
1899
320.000
1,188.000
38.000.000
of Affiliated Companies—
Rio Grande Southern first mortgage guar..
Rio Grande Junction first mortgage guar
Utah Fuel Co 1st M 52,000,000 redeem at
'21
&o
100
1886
g_Us.xo*Ar /1.647
11.647
Places
Maturity
1,000
1896
First A Ret M 5150.000,000 gold red 110__Baxo* Ar*
Adjust M Incomes 525.000,000 7% cum red 115 Nxc*
per mile g
Us.xo*Ar
Rle Grande Western 1st M gold (V69. p 284)
_Ce,zo*
First Cons mtge redeem at par (see text) g.G.xo*
Last Dividend
100
10
Preterred stook 5% non-oumulatlve 550,000,000.Tr
First Oonsol M 542,000,000 now 1st M
Improvement M (55,000
49
of
May 1920 and V. 112,
p.
1143. 1399, 2082.
UENVER & RIO GRANDE RR.
Road owned and
operated
Rio Gr. Jo. RR., Ac.
(leased).-
ROAD.—Mileage
Of the preceding:
2,484
120
Standard gauge
Narrow gauge only
2.6041 Second track
Federal Compensation.-$3,319,377 yearly during Federal control
Total operated.^
tract
executed).
UTSTORY.—On
1,823
781
316
(con-
July 31 1908 the Rio Grande Western was merged,
87. p. 226, 285.
The Rio Grande Junction (of whose stock the
greater
part is owned) was leased
jointly by this co. and the Colorado Midland (fore¬
closed la 1917) and Its bonds
guaranteed.
V. 95, p. 1541: V. 97,
p. 886;
V. 105, p. 2455.
Rio Grande Southern Is controlled.
-
v.
Date
Par
Amount
Rate
When
Road
6]
Bonds
Value
Outstanding
%
Payable
Era.y
Em.xc*
Two-year notes $300,000 auth call 101
Equip notes g due $24,000 s-ann
do
due $8,000 semi-ann
1918
text
text
text
$js.fr~Ac
1913
1913
1913
1913
Ac
£,
$,
£, Ac
$1,000
$.
1915
'
A
Dividend
Places
May 1915 coup
N May 1 1943
do
MAN May 11643
MAN May 1 1943
do
F
M
A
8
J
A
J
Payable
unpaid
do
do
York
New
May 1 1948
AA15 Feb 15 1917
MAN
to
Where Interest and
Dividends are
and Maturity
Sept 10 1920
Sept
M
217.000
96.000
24,000
1,000
'
eote
2-000.000
1 .OOUAC
1913
1915
1 '
V
$583,515
859,468
3,641.000
4.427.000
1,734.000
$5
$1 750 000
Receiver's (1st lien) ctfs $1,500,000 g call at par.1st M $35,000,000 gold redeem 105--Ba.xc*&r*
Do
cash lnt: 3%. 3 yrs; 4%, 1 yr; then 5% --x
Do
cash lnt: 4 yrs, 1, 2, 3&4%, reap, then 5%-*
Adjustment (Income) bonds $2,000,000
x
•
Las*
Miles
RAILROAD COMPANIES
[For abbreviations, &c., see notes on page
Denv Sc. Salt L RR—8tock
[VOL- 112.
STOCKS AND BONDS
RAILWAY
50
Prin. A lnt In default
Sept '21-Mar'23 Empire Trust Co, N Y
JuV21-July*22 Jan 1918 coupon unpaid
%
•
.
'ft
"
.
.
/
''
/.
' '
.
*
■>
Judge Learned Hand In the
U. S. Dlst. Court In N. Y. City on
May 18
Equitable Trust Co., as mtge. trustee of the
the suit brought against the Denver A Rio
Grande RR. Co. to enforce the payment of the guaranteed bonds.
V. 105
p. 1309, 1522; V. 101. p. 2641. 2117.
The Circuit Court of Appeals at
N. Y. on Jan. 4 1918 affirmed the decision, ranking the judgment as a lien
on the property inferior to the lien of the mortgage bonds.
V. 107. p. 1186;
V. 106. p. 85. 188. 1126. 1688.
1917 decided in favor of the
Western Pacific Railway,
old
1918 after some $7,771,395 had been realized on the Judgment,
Com., holder of the beneficial interest in 95% of
$50,000,000 1st M. bonds of the former Western Pacific Ry. Co., was
In Sept.
the Western Pacific RR.
the
proposing to set aside $3,500,000 of the money so received for the rehabili¬
R. G., and thus far the protection of the remainder
($32,500,000) of the Judgment.
V. 107, p. 1102.
On Jan
26 1918, in view of the foregoing judgment, the property was
placed In the hands of its President, Edward L. Brown, and Alexander R.
Baldwin, of San Fran.. V.-Pres. A Gen. Attorney of the Western Pacific
RR., as receivers by the U. S. District Court at Denver, on application by
a creditor, the company consenting, although earning a surplus over fixed
charges, and there was no other floating debt. V. 106, p. 498: V.107j).1186.
On Feb. 28 1918 the U. S. Gov't, having, as a war measure, taken over
the managment of the prooertv. Mr. Brown retired as receiver and Mr.
Baldwin remained as sole receiver of the rree assets with no part in the
operation of the road.
V. 105. p. 929.
.
In June 1918, $10,418,700 securities held by the company ha N.
Y,
banks were attached: $10,000,000 stock of Utah Fuel Co. was sold under
thisjudgment on June 20 and bid in by William Salomon A Co. on behalf
of Western Pacific RR. Corp. for $4 000 000.
V. 106 p. 2648. 2559.
The Equitable Trust Co. on May 4 1920 obtained an order from Supreme
Court Justice Lydon, directing David B. Knott, Sheriff of N. Y. County,
to issue a further execution upon a judgment awarded against the road and
to levy upon certain property of the defendant held in this State.
The
sale, which took place on May 26 1920, realized about $1,200,000.
Com¬
pare Y. 110, p. 1972, 2291.
^ In August 1920 the amount which still remained due on the Judgment,
ncluding accrued Interest, was approximately $35,869,193.
V. Ill, p. 693.
t»New Company Incorporated.—A Delaware charter was granted Nov. 15
1920 to the Denver & Rio Grande Western RR. with an authorized capital
of $150,000,000, authorizing it to own and operate railroads and railways
outside of Delaware.
The company was formed for the purpose of taking
tation of the D. &
the Denver & Rio Grande RR.
Tentative reorganization plan, V. Ill, p.
over
1846.
of Road.'—The road was sold at public auction on Nov. 20 1920 for
$5,000,000, the minimum amount allowed by the Court, to John F. Bowie
of New York, representative of the Western Pacific RR.
Confirmation
of the sale was hold up owing to objections filed by the pref. and com.
stockholders' committee.
A petition by the latter to intervene was denied
on Feb. 28 1921 by the U. S. Circuit Court of Appeals at St. Louis.
The
sale was finally confirmed on March 28 1921 by Federal Judge Robert E.
Lewis at Denver, after the Court had ruled that a resale would be ordered
if the stockholders' committee would deposit $100,000 on March 25 1921
and agree to bid $10,000,000 for the property at the resale.
Judge Lewis
refused to permit the committee to file a bond of $100,000 in lieu of cash.
Judge Lewis in the Federal District Court at Den ver on April 2 1921 dis¬
missed the ancillary action brought by stockholders to set aside the sale of
the property to the Western Pacific. The Court, however, granted permis¬
sion to James L. Beers, representing stockholders, to bring an amended
Sale
complaint in ancillary action to annul the sale on allegations of fraud and
conspiracy on the part of officials of affiliated roads,
v. 111, p. 2227, 2323.
2520; V. 112, p. 257, 372, 652, 932, 1024, 1143, 1282, 1399, 1518, 1865,
2082, 2190.
Interest Payments.—Coupons due Feb. 1 1918 on First A Ref. Mtge. 5s
and April 1 1918 on Rio Grande Western 1st Consol. Mtge. 4s (V. 106,
J». 1461),5s delayed were paid 24 19181919;Coupons due June 1 1919Y., had
were paid on May July 1
mprov.
Equitable Trust Co., N. on the
previously offered to purchase them on behalf of Western Pacific RR. Corn
V. 108, p. 2329.
Subsequent interest payments have been made when due.
Committees Formed in View of Aforesaid Decision (V. 104, p.
2117).
First & Ref. 5% M. Bonds.—John Henry Hammond, Chairman; Bertram
Cutler, C. Ledyard Blair, Charles Hayden, Melvin A. Traylor, Andrew J.
Miller, Joseph H. Seaman and Frederick Strauss; B. W. Jones, Secretary,
16 Wall St.
Cadwalader, Wickersham A Taft, counsel.
Bankers Tr. Co.,
N. Y., depositary.
Y. 106, p. 2559, 2228, 498; V. 104, p. 2117, 2552;
V. 112, p. 161.
Common & Pref. Stock.—Benjamin B. Odell, Chairman; Jefferson M.
Levey, Vice-Chairman; S. M. Schatzkin, George F. Secor, G. Tracy Rogers
and John T. Steele.
Depositary, Lawyers Title & Trust Co., N. Y.
7% Cum. Adj. Mtge. Bonds.—John B. Dennis, Alonzo Potter, Otto T,
Bannard and Albert Strauss, with B. L. Stowell as Secretary, 24 Broad St..
N. Y.; New York Trust Co., depositary.
Y. 104, p. 2235; V. 106, p. 2228
Rio Or. West. Is! M. 4s.—See Spencer Trask A Co., 25 Broad St.. N. V
1st Mtge. Bonds of Rio Or. Jet. Ry.—L. Edmund Zacher, J. Herbert Case
Edward C. Delafield; with E. S. Blagden, Secretary, 46 Wall St.. N. Y.
Franklin Trust Co., N. Y., depositary.—v. 104, d. 2642.
STOCK.—The Missouri Pacific on Dec. 31 1920
stock. V. 72, p. 338, 580,1238; V. 73. p. Oi Hj
owned $17,295LQ00
common
DIVS.—1
on
pref. %J
'92. *93. '94. '95. '96. *97. '98. '99. '00. '01 to Jan.'ll
0
2
0
0
22
2H
4
4
5 yearly.
None
slnoe
BONDS.—Improvement mortgage abstract in "Chronicle," V. 47, p. 229.
Abstract of R. G. W. 1st mort. was In V. 49, p. 237, and statement to
N. Y. Stock Exchange, V. 50, p. 73; also V. 69, p. 284.
litah Fuel lart 5«
of 1931; see application to list, V. 78. p. 1171, 1178, 1548, 2015.
Rio G. W. First Consol. 4s of 1899, see V. 72, p. 537, 775, 1189.
The Refunding mtge. covers the consolidated properties to secure an
bonds.
V. 86, p. 1224, 1284, 1529; Y. 87, p. 226, 285
100, 230, 294, 504, 822; V. 89. p. 348, M3; V. 90!
Utah Central RR., $390,000 1st M. 4s paid off Jan. 1 1917 are
refundable with D. A R. G. Ref. A Mtge. bonds.
V. 103. p. 2340.
Of
the $42,061,000 First & Ref. Mtge. 5% gold bonds authenticated Dec. 31
Issue of $150,000,000
544. 741, 1419; V. 88, p.
p.
848.
1920, $2,328,000 were held in sinking fund and treasury and $8,117,000
were pledged under the Adjustment Mtge.. leaving $31,616,090
in the
hands of tne public.
The Adjustment mtge.
authorized in April 1912
received their drst install¬
(7% cum. income) bonds
(total $25,000,000, present Issue
$10,000,000)
absolutely on Oct. 1 1912, and are since entitled (A. A O.)
to such amount as the board shall determine out of surplus net income
during the six months ending Dec. 31 or June 30 immediately preceding,
ail arrears, if any, to be paid at maturity or at date of earlier redemption.
Redeemable at 115 any interest date;
% interest declared, payable semi¬
annually from April 1 1912 to and including April 1 1921.
V. 97. p. 728,
1426; V. 101,p.773; V. 94. p. 911, 1565; V. 105. p. 606, 818.
Offerfrom
West. Pac. to purchase income bonds, V. Ill, p. 990.
The stock ($200,000) of Salt Lake City Union Depot A RR. Co. is about
equally owned by the D. & R. G. and Western Pacific, foreclosed, which
guaranteed its $1,100,000 first mtge. 30-year 5% bonds.
V. 88, p. 232.
——Jan. 1—Mar. 31
Jan. 1—Dec. 31
EARNINGS.—
1921.
1920.
1920.
1919.
Gross
$7,765,706
$9,212,643 $40,245,027 $33,016,256
Net after taxes
817,179
2,156.914
6.585,715
5,973,669
ANNUAL REPORT.—For 1920 in V. 112, p. 2076;
1920.
1919.
1918.
ment of Interest
compensation
Gross
Hire of
2,611
..$40,590,345 $33,016,257 $31,352,214
6,369,993
5,972,877
4,858,526
f4,075,151
1,117,467
2,857,075
1,386,563
8,319,377
8,319,377
$11,831,707 $15,313,460 $16,034,978
income
Other
Federal
2,593
2,593
Average miles operated
Gross earnings
Net, after taxes, &c...
income.
$2,132,015
equipment, rents, &c
$772,467
$208,114
Interest
on
4,871,529
Interest
on
700,000
4,894,397
700,000
2,817,227
4,911,475
700,000
3,276,475
274,219
203,130
133,422
funded debt
adj. mtge. bonds (7%)
Other interest, &c
Sinking and renewal funds
sur .$1,036,716df$2,690,577df$l,468,133
Balance, surplus or deficit
See note in V. 112, p. 2076.
; V-.Pres., Finlay J. Shepard,
915,1 >5 Broadway, N. Y.
DIRECTORS.—George J. Gould, E. T. Jeffery, Arthur Coppell, Flnley.
J. Shepard, Harry Bronner, C. C. Huitt, J. H. McClement, N. Y.—(V. 112,
p. 61,161. 257, 372, 652, 932, 1024, 1143, 1282, 1399, 1518, 1865, 2082.
DENVER & RIO GRANDE WESTERN RR.—Incorp. in Dela. Nov. 15
1920 as successor to the Denver & Rio Grande RR. with an auth. capital
of $150,000,000.
A company with the same title (to be the operating
company) was incorporated in Colorauo on Nov. 30 1920 with a capital of
$50,000,000.
Joseph H. Young, Pres. of the Norfolk Southern RR., has
been elected President.
The following directors have been elected,viz.:
Franklin W. M. Cutchen, I. de Bruyn, John B. Dennis, Frederick H'
Ecker, A. M. Hunt, Alvin W. Krech, John B. Marsh, Robert W. Martin,
George W. Murray, Lyman Rhoades, John Y. Robbies and R. B. Young,
all of New York.—(V. Ill, p. 1852, 2040, 2139, 2227; Y. 112, p. 1518,
f Includes comp. due
under 6 mos. guaranty.
OFFICERS.—Pres.,
Y.; Sec., John P. Howard, Room
N.
1865, 2076.)
DENVER & SALT LAKE RR.—In 1918 256 miles, Denver to Craig, was
operation, incl. Steamboat Springs to Craig, 41 miles, opened Dec. 1
V. 95. p. 1403, 1541; V. 96, p. 1088; V. 97. p. 1503; V. 108. p. 77.
The plan by which the city of Denver was to aid in building a
through the Oontinenatl Divide was blocked in July 1914 by a decision of
the Colo. Supreme Court declaring the proposed city bonds illegal.
V. 96,
tn
1913.
tunnel
1488; V. 92. p. 1310; V. 95. p.
1024,1503; V. 98, p. 73,60, 762; V.
Nov. 2 1920.
V. Ill, p. 1949.
p.
1403, 1122; V. 96. p. 1488; V. 97, p.
Defeated by voters
9W, p. 119, 1597.
on
ORGANIZATION.—Incorp. in Colo.
Dec. 1912 and took over as of
1913 (per plan, V. 95, p. 890) the Denver
Ry., foreclosed.
V. 95, p. 1683. 1603
1331; V.
May 1
r
Tunnel Assoc. to prevent
Northwestern A Pacific
96 p. 135. 1296. 1364.
rill Jan. 1 1964. V.98.D.911.
1919 formed the Northwestern Colorado
abandonment of the road.
V. 108, p. 479, 268,
Northwestern Terminal
Cities in Colorado in May
easis
Ry..
Den*'
1610, 1390, 2122.
U. S. RR. Administration on
management of the property, paying
Out of this must be paid
the corporate expenses, rentals, deferred maintenance and certain additions
and betterments, yet to be determined.
The receiver writing Sept. 10
FEDERAL
Aug. 24 1918
maximum
a3
1918 said:
for
MANAGEMENT.—The
agreed to take over the
compensation $351,000
annually.
"Under the circumstances,
I can see no [immediate] prospect
the bondholders receiving anything."
V. 107, p.
RR. Administration also agreed on Aug. 24
The
1192.
1918 to
purchase
approximating $1,462,000 with a first Hen on the
property applicable as follows (V. 107, p. 1192):
Taxes, $260,000; fuel
and material, $300,000; all overdue equip, notes & Int., $185,000; wage
arrears, $154,000; deferred maint., &c., $600,000.
The receiver's certificates ($1,500,000) are to have a first lien ahead of
the 1st M. bonds and any future issue of such certificates.
Not exceeding
$575,000 were to be issued forthwith.
RECEIVERSHIP.—On A ig.
16 1917 Pres. Chas. Boettcher and
W. R. Freeman of Denver were made receivers.
V. 105, p. 818, 1419.
Default having
been
made on Interest payment due May 1 1916
and semi-annually thereafter on
the First Mtge. 30-year gold bonds,
the bondholders' committee In 1917 urged deposit of the bonds with Mer¬
cantile Trust & Deposit Co., 115 Broadway, N. Y., as depositary.
Com¬
mittee:
Edward R. Tinker, Chairman; George H. Burr, F..N. B. Close,
L. O. Phlpps, Eugene V. R. Thayer and Herman Walleck, with Charles D.
Makepeace, Secretary, 115 B'way, N.Y.—V. 104, p. 1800; V 106, p. 929.
Default occurred Jan. 1 1918 on N. W. Terminal bonds and a protective
committee was organized; see that co. below and V. 108, p. 268.
Protective committee for 5% equipment notes dated Mar. 1 1913, and
receiver's
the 6%
Mason,
certificates
equipment certificates
dated July 1 1915. Chairman, John H.
Commercial Trust Co. of Phila.:
2756. The committee in Feb. 1919
Philadelphia.
Depositaries,
Empire Trust Co., N. Y.
V. 106, p.
MAY, 1921.]
RAILWAY STOCKS AND BONDS
RAILROAD
COMPANIES
[For abbreviations, Ac.,
see
Miles
Date
Far
Amount
Rate
When
Last
Road
notes on page 6]
Bonds
Value
Outstanding
%
Payable
and
Denver Un Term Ry—1st M red 105 beg '19 text.CC
De» Moines & Fort Dodge—See
Minneapolis & St L
5,898
1914
$1,000
Be* Bay C &Union—First M $800,000 gold sf FC.xc*
Ce.zo*
et Moines
W—1st M $1.250.000 g red text
4.225
99
Detroit Hillsdale & S W—Stock 4%rentalNYRCentRR
Detro't & Mackinac—Common stock. $2,000,000 auth
1887
1912
1.000
1.000
65
Pref stock
$1.000,000 auth (V 74.
non-cum
p
$4,000,000
629)..
All
All
2.72
100
1.000
1.000
1.000
1895
1895
1911
$6.000.000
gold red 105N.yc*
Ad J (Inc) M $8,000,000 g cum aft Jan 19 red
text.Ce
Toledo-Detroit RRlst & Ref gold bonds
M
1914
1.000
100 Ac
A
g M
A
1917
1903
1.000
1.000
100
150,000
Duluth & Iron Ranee—First mortgage
210
1887
1,000 Ac
J
5 g
3,000.000
8,151,000
Mp.zoAr
500
returned to
owners the equipment trusts of March
1915, all installments
having been paid to date.
V. 108, p. 479.
BONDS.—Over 92% assented to plan for funding
coupons due in 1915.
V. 100, p. 732. 811.
Bankers Trust Co., New
York, depositary.
Jan. 1—Mar. 31
EARNINGS.—
Gross
1921.
1920.
$567,445
defl52,853
Net after taxes
$662,441
def361,785
Jan. 1—Dec. 31
1920.
1919.
$2.9*3,647
def670,519
$2,911,040
def927,234
REPORT.—For 1920, gross, $2,953,647; net oper. def..
$670,519; Fed-
198
|omj)^2$668,767; bal., def., $1,752; int., rentals, &c., $321,871; bal.,
OFFICERS.—Charles Boettcher, Pres.; Gerald Hughes,
Wm. Wadden, V.-P.; Ward E.
Pearson,Treas., N.Y.—(V.
def.,
Sec., Denver;
Ill, p. 1949 )
(THE) DENVER UNION TERMINAL RY.—To take over the Union
Depot A Ry. Co. (V. 71, p. 343) and extend and improve the passenger
terminals at Denver, Colo.
Stock $30,000, equally owned by the Union Pa¬
cific, Denver A Rio Grande, Colorado A Southern. Chic. Burl. A
Quincy,
Atch. Topeka A Santa Fe
and
Chicago
Rock Island A Pacific which
guarantee the bonds ($10,000,000 auth. Issue), of which $4,000,000 were
sold to Union Pacific.
V. 106, p. 2756; V. 97, p. 1024, 1115; V.
98, p. 7621
V. 99, p. 406.
Pres., J. H.
Bradbury; V.-P., T. H. Beacom; Treas., J. O.
Houston; Manager, J. Keating; Sec. A Aud., C. R. Hines.—(V.
107, p.
1287).
DES MOINES UNION RY.—Terminal road in Des Moines; owns4.22 miles
main track and branches, 23.55 miles 2d and side
tracks, bridge across Des
Moines River and 25 acres of land in Des Moines.
See statement to N. Y.
Stock Exchange in V. 65, P. 1173.
The $671,000 1st Mtge. 5s due Nov. 1
1917 were In June 1918 "held as matured
unpaid account of litigation."
no new bonds being
put out.
V. 105. p. 1801, 1898.
Leased to Wabash
BR., Chic. Gfc. West., Chic. Milw. A St. P. Ry., Chic. Burl. A
Q. RR. and
Minneap. A St. L. KR.
V. 75. p. 342.
Rental equal to exp. A fixed
chgs.
paid monthly by lessees on wheelage basis.
Stock auth., $2 000.000; out¬
standing, $400,000; par, $100.
Year ended Dec. 31 1920: Ry. oper. rev.,
$194,399: net. $29,115; other rev., $356,787; taxes. $70,267; other deduc¬
tions, $77,907; bal., sur., $237,729.
Court decision as to
ownership,
V. 102, p. 1346.
Pres., B. B. Greer; Sec., T. S. Ford; Treas., Geo. C.
Williams.
Office, Des Moines, Iowa.—(V. 112, p. 1617.)
DETROIT BAY CITY & WESTERN RR.—Owns Bay City. Mich.,
Treas., G. W. Handy.
268. 1274.)
Office. Bay City. Mich.—(V. 107. p. 905: V. 108.
p.
DETROIT ORAND HAVEN & MILWAUKEE RY.—Owns from De
trolt to Grand Haven, Mich., 189 miles.
Charter decision Oct. 1916, V.
107, p. 1669.
Real estate bonds, Ac., $226,000.
Grand Trunk of Canada
owns entire $1.500,000 stock.
EARNINGS.—For year ended Dec. 31 1919, gross, $4,366,538; net after
taxes, $655,966; other income, deb., $83,124; net income, $572,842.—
(V. Ill, p. 1852.)
DETROIT HILLSADALE & SOUTHWESTERN RR.—Owns
Ypsllanti to Bankers, Mich., 65 m.
Leased in perpetuity in 1881 to L. S. A M.
8. Ry. (now N. Y. Cent. RR.);
rental, $54.500—4% onstk.(V. 106, p. 601.)
DETROIT & IRONTON RR.—See Det. Tol. A Ironton RR. below.
DETROIT & MACKINAC RY.—Owns from Bay City, Mich., to Cheboy-
gon, 195 m.; Au Sable division
Ifo
merly A. S. A N. W. RR.). 60
City Branch. 32
Ores Branch.
m.;
Rose
m.; Prescott Branch. 12 m.: Lincoln Branch. 15 m.;
Au
8 m.: Alabaster Branch. 4 m.: Hlllman division.
Alpena to
Hfllman, Mich.. 23 m.; Rogers City Branch. 14 m.; Jogging branches
(largely temporary), 25 m.; total, Dec. 31 1920, 377 m.
Henry K. McHarg
and associates control.
Federal
tract
Compensation.—$310,664
executed).
V.
yearly
during
Federal
control
(con¬
108, p. 1610.
BONDS.—"Mortgage bonds" for $500,000
Ao.,
at
amounts
not
over
$50,000
shown above
'mortgage" bonds
as
were reserved for betterments.
per year.
V. 74, p. 629.
In addition to the
outstanding, $450,000 "first lien" and $500,000
are heJd
in treasury.
DIVIDENDS.—On pref., 2H % July 1 1903; since to Jan. 1921,
5% y3y.
1919, 5% yearly (except July 1915 and July
1917, none; also in July 1918, and 1919 none; Jan. 1920, 2M %.
On common, in 1911 to Jan.
EARNINGS.—Jan. 1 to Mar. 31—
Gross
REPORT—Year
Cal.Year.
Gross.
1920
1920.
$425,637
def79,754
ended
Dec. 31 1920:
Net aft. Tax. Tot. Inc. Int.,Rent,&c.
$2,077,931def$281046
1919
1,687,341
df84,917
1917
1,557,034
1,350,457
df31,2l0
180,116
x
1921.
$410,909
def68,875
Net after taxes
$73,303 $132,566
x3l9,126
181,379
307,402
177,056
287,650
92,300
Standard return, $310,662. plus other income.
Pres., H. K. McHarg; Sec.-Treas., Jas. McNeil.
—(V. Ill, p. 2038.)
'
Divs.
Bal.,Sur.
$47,500df$106762
97,500
40,247
97,500
32,846
97,500
97.850
Office, Detroit, Mich.
.
DETROIT RIVER TUNNEL CO.—Owns double-tube tunnel and
ap¬
proaches under the Detroit River, with terminals, all leased for 999 years
from Jan. 1 1907 to Michigan Central RR. Co.
(N. Y. Central System),
which owns the entire $3,000,000 stock and guarantees,
prin. A int., of the
bonds and 6% on the stock.
Of the $30,(XX),000 bonds, $12,000,000 are
reserved under restrictions for additions and
Improvements, Interest rate
not to exceed 5%.—(V. 98, p. 1844.)
Payable
A
See text
Oct
1932
First Tr A Sav Bk, Ohio
Jan 5 1921
2% Farmers' L A Tr Co. N Y
Jan 2 1920
H K
McHarg, New York
Jan 31921
2H
do
do
June 1 1995
J P Morgan A Co, N Y
June 1 1995
do
do
May 1 1961
Office of Treas, N Y
Mch 1 1964
Mch 11954
New York Trust Co
Sept 1 1940
SK
M
A
5H
J
A
4 g
6
J
A
A
A
A
A
To Nov 1 1925
To J'ne 1
1927
Jan
1 1953
Apr 1921
O Oot
3%
1 1937
New York Trust Co
York Trust Co
Bankers Tr Co. N Y
143 Liberty St New York
New
Office Empire Bldg, N Y
DETROIT TOLEDO & IRONTON RR.—Road from
Detroit. Mich., to
Ironton. via Lima, 389 m.. including 45 m. of trackage; branches
Kingman
Sedalia. O., 31 m.; Jackson to Cornelia. 19 m.. and I IsmaD
)cfc. to Dean,
0..3 m.; total. 441 m.; coal mine tracks, sidings, Ac.. 1*4 miles
Incorp.
In Dela. Mar. 1 1914 as successor,
per plan V. 97, p. 1821, of fcne
Railway
foreclosed.
Toledo A Detroit RR., Toledo,
O., to Dundee, 22 miles.
V. 103, p. 60.
to
Control of this road
the
was
taken
over by
Henry Ford on July 15 1920 by
purchase for cash of approximately 98% of the Adjustment Mortgage
bonds and the preferred and common stock.
The price paid was $600 for
each $1,000 bond and $5 and $1 for each share of the
preferred and common
stock, respectively.
V. Ill, p. 294, 492.
Proposed impts., V. 112, p .372.
The Detroit A Ironton Ry. was incorp. to lease
and take over the
opera¬
tion of the road.
Minority stockholders In Aug. 1920 brought suit to
prevent the proposed lease.
V. Ill;'p. 895.
The lease was upheld by
Supreme Court Justice Finch on Oct. 8 1920, and the decision was
later
affirmed by the Appelate Div. of*the Supreme Court. V.
Ill, p. 1472,2041.
BONDS, AO.—The issue under the first mortgage is not
limited, but
$1,000,000 thereof will be disposed of solely to rehabilitate the
property
and provide for equipment ana payment of
equipment Hens, and an addi¬
tional $1,000,000 solely for Improvements and
additional facilities.
Fur¬
ther 1st M. bonds may only be issued thereafter
from time to time, under
carefully guarded restrictions, for Improvements, Ac.—V.
102, p. 2341.
Adjustment Mortgage Bonds ($8,000,000 authorized).—Entitled to Inter¬
est, payable semi-annually, at such rate, not exceeding
5% per annum, as
tne surplus or the net Income as defined in the
mortgage shall suffice to pay.
The Interest will be cumulative from Jan. 1
1919, but there will be no right
of foreclosure until maturity of the
principal of the bonds.
They are callableasawhole with interest as follows: At 70%
during first year, at 75%
In 2d year, at 80%ln 3d year, at
85% In 4th year, at 90% in 5th year and
at par thereafter.
Until the full 5% Int. Bhall have been paid for 2 successive
years and at least for 5 years from date of the
the right to cast one vote for each $100 at all
mortgage, the holders have
meetings of the stockholders.
The Toledo A Detroit RR. (purchased Jan. 2
1918) had $460,000 bonds
outstanding.
Equipment trusts Issued
to this company.
to
See article
Director-General for rolling stock allocated
on page 3.
Jan. 1—Mar. 31
1921.
1920.
EARNINGS.—
Gross
to
Unissued bonds. V. 95, p. 1273.
Year ended June 30 1916 on 71 miles,
gross, $209,067; net, after taxes. $84,332: int. on $658,000 bonds,
$32,900;
bal., sur., $51,432.
Pres.. Thomas L. Handy;
V -Pres., C. W. Handy:
A
Up to 5 M
Net after taxes
Port Huron, 102 miles.
Stock, all out, $450,000.
The 1st geld 5s ($1,250,000 auth. issue) are redeemable at par
prior to Oct. 1 1922, thereafter at 105.
Annual compensation under Govt, contract executed in
April 1919, $85,967.
V. 108. p. 1274.
V. 108. p. 268.
A
4>*
"48
1915
A
18.000.000
6.500.000
5,989,998
1.439,000
do
do
due $25,000 1
A D callable
Det & Tol Sb L—1st M $3,000,000 g gu
Ba.xo* Ar
Dover & Rockaway—Stock 6% rental 990 years
Dub & Sioux City—See Illinois Central—
Equipment gold notes due $6,500 M A N callable,.
A
J
1915
are
Central Union Trust, N Y
A
4 g
7.628,868
400.000
58,500
300.000
22
Where Interest and
Dividends
Cont A Com TrASB.Chlc
A
A
1.250.000
100
100
Places
4H g MAS Mar 1 1964
648.000
1,350,000
\ 4
2.000.000 See text
950,000 5 in 1920
4 g
1,050.000
100
Dividend
Maturity
5 g
5 g
See text
100
"First Hen" $1,500,000 gold
Gxo*
"Morteage bonds" $1,750,000 g red at par.,
Gxc*
Detroit Riv Tun—1st M $30,000,000 gu end.<3.xc*r*
Detroit To! & Ironton—Common stock $6,500,000
Pref stock (p A d) non-cum 4% A par tic.
First
51
$877,649
def170.022
-Jan. 1—Dec. 31
1920.
1919.
$1,148,106
$5,220,604
47,684def1,206,749
REPORT.—For years ending Dec. 31.
Calendar
Cross
Net
Standard
Years—
Earnings.
$3,413,341
Earnings.
Return.
df.$382,548 $225,895
Interest,
$3,765,755
def600,546
Balance,
Taxes.
Rents, &c. Sur. or Def.
def.$15,845
2,640,122
116,020
130,118 def.150,098
1916
2.325.278
552,694
141.388 sur.335,840
"Int., rents, taxes, Ac.," include In 1916-17 interest on
bonds, Ac.,
$76,368; taxes. $84,000, and rentals. Ac., charges, $66,012.
OFFICERS.—Pres., Henry Ford, Detroit; V.-P., Frederick Osborn,
N. Y.; Sec. A Treas., E. C. Davis, Detroit.
Directors.—J.
A,
Gordon.
F.
L.
Klingenswith, Herbert
1918
1917
p.
...
Hartman.
Frederick Osborn and E. G. Lieboldt.
Building, Detroit, Mich.—(V. 112,
$4,054
96,000
75,467
Office, Real Estate Exchange
372, 1024, 2190.)
DETROIT &
(suburbs of)
TOLEDO SHORE LINE RR.—Extends from Toledo to
Detroit. 47.6 m.; 2d track, 20 m.; sidings, 3 m.;
trackage over
Toledo Ry. A Term. Co., Ac., 31 m.; total
track, 101.6 m,
V 78. p. 2698.
The Grand Trunk Western Ry. and the Toledo St.
Louis A Western RR.
own the entire $1,428,000 stock and
Jointly guarantee the'bonds, prinolpa)
and Interest, by endorsement.
See form of
guaranty, V. 76, p. 653.
First
dividend, 4%, paid from earnings prior to June 30 1908; in flsoal
year
1908-09, 0%. and in 1909-10. 1910-11. 1911-12. 1912-13 and 1913-14.
8%;
and In 1913-14 $030,000, from accumulated
surplus paid In la M. 4s);
1914-15, 8% and 6% extra; 1910. 8%; 1917-18, (8%)
Equipment trusts Issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Jan. 1-Mar. 31-Jan. 1 -Dec. 31
EARNINGS.—
1921.
1920.
1920
1919
Gross
$482,870
$2,450,009
$2,458^394
11,385
775,827
1,051,534
$1,827,430: net Income. $853,521; other
income. $17,115; Interest, rentals. Ac.. $578,750: divs. (8%).
$177,640; bal.,
sur., $177,646.
Pres., Walter L. Ross.—(V. 110, p. 969, 1088.)
DOVER & ROCKAWAY RR. (N. J.)#~Total, 5.12 miles.
Operated
under lease by Central RR. of New Jersey.
Net after taxes
Year ended Dec. 31
$602,273
183,186
1917,
gross,
DULUTH & IRON RANGE RR.—Owns Duluth to Wlnton,
Minn.;
120.12 m.; Tower Jet. to Tower, 1.40 m.; Allen Jet. to
Virginia, 24.53 m.,
to Eveleth, 9.05 m.; Waldo to Wlnton,
15
m.;
Mesaba
to
Dunka River, 17.24 m.; Robinson to Burntslde
Lake, 3.10 m.; other
branches, 6.33 m.; branches and spurs, 91.28 m.; operated under trackage
rights, 4.41 m.; total, 292.52 miles.
Second track and sidings, 256.14 m.
McKlnley
Owns
ore docks and
yards on Lake Superior costing over $1.500.000.
The company refused the six monthsi extension of the
Govt, guaranty.
STOCK,
Ao.—Stock, auth., $10,000,000: out., $6,600,000.
Federal
Steel Co. (see U. S. Steel
Corp.) owns the stock. First Mtge., authorized,
$25,000 per mile for construction and $7,000 for
equipment.
Dividends
since 1904: 1905, 65%; 1906, 40%; 1907, 80%; 1908,
80%; 1909, 145%; in
fiscal year 1909-10, 100%; 1910-11, 135%; 1911-12 and
1912-13, 90%;
1913-14, 75%; 1914-15. 20%; 1915-16, 50%; 1916, 25%; 1917, 12%;
1918.
7%; 1919.30%.
Jan. 1 -Mar. 31
Jan. 1 -Dec. 31
EARNINGS.—
1921.
1920.
1920.
„
o,
1919.
Gross
$707,078
def.594,359
$415,420
$11,052,316
$7,961,606
def.562,741
3.129,448
2,983,815
REPORT.—For year ending Dec. 31 1919 in V. 111. p. 2037.
Compensation accrued, $2,355,242; other income, $223,410; int. charges.
$407,550; miscell.. $70,940; Fed. taxes, $183,566; divs.,
$1,950,000; gen.
amortization, $196,113; bal.. def.. $229,516.
President is F. E. House, Duluth.—V. Ill, p. 2037.
Net
after
taxes
Date
Par
Amount
Rate
When
Road
6]
Bonis
Value
Outstanding
%
Payable
65
Duluth Missabe & Northern—1st Div First Mtge.z
General mortgage gold s f, red 105
.Nxo*
Duluth Rainy Lake & Winnipeg—See Dul Win A Pao.
Uuiath So Sta & Atlantic—Marq H & On gen M-Ce.zc*
Duluth South Shore A Atlantic 1st M g __Ce,xoAr
mtge
Inoome certs held
„■
-
130
604
604
Ce.zo'Ar
gold Interest guar
by Can Pao
361
z
...
Winn & Pac—1st M deb stock guar by Can Nor Ry
Durham A So Car—1st M $300,000 g red 105-MeBax
On
42
East Carolina Ry—First mortgage
pledged by Can Nor By
sinking fund Oct. 1919.
An additional $1,210,583
1,000AO
1906
1,000
50
1888
1.000
36
1905
1.000
1912
1916
1897
357
120
165
1,000
1,000
1,000
1,000
1,000
1,000
1901
"3i
128
133
1898
1901
1901
100
V 105 p
'& NORTHERN RY.—Owas from Stony Brook to
Missabe Jet. to Columbia Jet., 29.34 m.
with numerous branches; total of all track owned, 721 miles.
Also leases
from Spirit Lake Transfer Ry. (V. 104, p. 664) and Interstate Transfer
Ry., 24.96 miles, with 2.28 miles branches and spurs and 14.32 miles yard
tracks and siding.
Owns extensive ore docks at Duluth.
Entire $4,112,500
stock controlled by U. 8.
of the Govt, guaranty.
reserved to retire the under¬
lying bonds; additional bonds may be Issued at not over $30,000 per mile foi
additional single main track and $20,000 for second, third and fourth main
racks and for not over 75 % of cost of improvements, Ac. Sink. fd. 2 % yly,
tlncl. bonds in sinking fund) retires by lot at 105.
Dec. 31 1920 $3,653,000
(n sinking fund.
V. 88. p. 822: V. 98. p. 1693. 1844.
DIVIDENDS paid flsca years ending June 30: 1912, 100%; 1913, 85%;
1914, 75%; 1915, 10%; 1915-16. 75%; 1916, 100%; 1917, 50%.
Jan. 1 -Mar. 31
Jan. 1-Dec. 31
EARNINGS.—
1921.
1920.
1920.
1919.
Gross
$647,651
$528,019 $19,614,069 $19,994,713
Net after taxes
def. 1,204,348def1,018,584
6.042.938 11,309,223
REPORT.—For calendar year 1919 in V. Ill, p. 891:
Combined Federal and Corporate Income Account.
Years ended Dec. 31—
1919.
1918.
1917.
1916.
Gross oper. revenues
$19,994,713 $21,545,270 $15,306,600 814,389,278
BONDS.—Of the Gen. 6s of 1906, bonds are
^
Net
12,205,262
accr'd x5,122,051
106,207
Fed. tax., &c.
1,469,508
13,587,837
313,034
"389",780
earnings...
Int., rent.,
Dividends.
Amortization,
Ac
8,165.945
125,241
1,387,077
3,473,435
Surplus.....
3,445,717
x This total entered in the accounts but does not
compensation agreed upon, no contract
209,596
1,629,023
4,112,500
415,038
2,749,669
represent an amount of
having been signed.—(V.Ill,.891.)
MINNESOTA RR.—(V. 112, p. 61, 1399.)
DULUTH SOUTH SHORE & ATLANTIC RY.—Operates Superior to
Sault Ste. Marie, 410 miles;
Soo" Junction to St. Ignace, 43 miles; other.
170 miles; total, 623 miles. Including 26 miles of trackage and 596 owned
Federal Compensation.—$562,648 (contract signed).
CAPITAL STOCK.—Common, $12,000,000; pref. 6% non-cum., $ 0,
©00.000: car, both $100.
Can. Pao. Dec311918owned $6,100,000 com and
DULUTH St NORTHERN
$5,100,000 pref. stock.
BONDS,
V. 45. p. 274.
:
of 1890 has Interest at 4%
Ao.—Abstract 'irst mortgage.
The First Consolidated mortgage
guaranteed
the entire outstanding Issue ($15,1074% debenture stock; consols for $4 *
893.000 are reserved for prior bonds, and additional amounts may be Issued
at $20,000 per mile of new lines.
Canadian Pacific Ry. Dec. 31 1918 held
$15,107,000 consols. $3,000,000 overdue income certificates.
by Can. Pao., which Dee.3l 1918neld
000) In its treasury as security for Its
1 -Mar. 31-
-Jan.
1921.
EARNINGS.—
Gross
Net
$1,216,629
def.120,941
..
after taxes....
1920.
$1,078,779
def.222,594
Jan.
1- ■Dec. 31——
1919.
1920.
$5,900,958
$4,758,601
151,999
83,493
REPORT.—For cal. year 1919:
...
..
DULUTH WINNIPEG & PACIFIC
RY.—Owns entire $2,000,000 stoct
Winnipeg Ry., Virginia. Minn., north to the Cana
International Falls, 98 miles.
Capital stock auth.,
$6,000,000; par, $100.
Controlled by Canadian Northern Ry., V. 98, p.
1601; V. 102, p. 152.
SECURITIES.—The first mtge. 4% deb. stock of 1910 Is guar., p. A 1., by
the Canadian Northern Ry.
Of the $10,500,000 auth. Issue. £1,473.353
has been sold, $1,525,000 was issued to retire existing securities. $2.000,000 was reserved to retire the Duluth Rainy Lake A Winnipeg bonds (ex¬
tended In 1918 to 1921). the remaining bonds to be available for further ex¬
tensions, Ac.
On payment of 1$. R L. A W. bonds in 1921 Its property
will be transferred to the company, so that the debenture stock will become
a first charge on 173 miles, the D. R. L. A W. stock in the meantime bolus
vested with the trustees, the National Trust Co. of Toronto and the Brit 1st
Empire Trust Co.
V. 102. p. 152; V. 90. p. 1490; V. 91, p. 154. 1322.
of Duluth Rainy Lake A
Northern
The
at
$2,000,000 Dul. Rainy Lake & W. bonds extended
in 1916 to Jan. 1
1921 were paid off on the latter date.
V. 112. p. 651.
In Dec. 1917 made a mortgage to secure demand loan
Government.
Jan.
EARNINGS.—
,
Net after taxes
1 -Mar.
1921.
$937,319
139,214
REPORT.—For year ended Dec. 31
$219,572; other income,
$277,373(V. 105. p. 2365.)
come,
DURHAM
from Canadian
V. 105, p. 2364.
Grofs
St
SOUTH
Jan.
31—
1920.
$584,968
54,816
1 -Dec. 31
1920.
$2,498,223
defl3,347
1919.
$1,913,689
54,760
1919: Gross, $1,913,689; oper. in¬
$1,077; deductions, $498,023; bal., def.,
CAROLINA RR.—Durham
N. O.. south 42
gtiles to Duncan on Norfolk A acquired by Stock. $500,000: par, RR. la
onds, see table.
The road was Southern. the Norfolk Southern $100.
1920 and is leased by that road for 99 years
2387.
Pres.. Ernest Williams; Aud., R.
(V. 106, p. 189; V. 110, p.
from May 26 1920. V. 110, p.
S. Harris, Lynchburg, Va.—
2387.)
DURHAM & SOUTHERN RY.—East Durham to Dunn, N. O.. 67 m.;
Durham to East Durham. 2 m.
Stock authorized. $2,000,000; out.. $1.350,000; par, $100.
.In 1920, gross, $406,166; net, from railway operations,
J July 1 1958
J July 1 1958
2,500,000
5g
3.000,000
8
'
or
London
Canadian Pacific
or
Toronto
Tr A Dep Go, Ball
1017 North Am Bldg.Phl)
J Jan
A
5 g
do
York
1 1958
A
A
322,000
Y
York
Guaranty Trust Co, N Y
J
sg
N
1955
J
do
do
do
do
Safe
Dep A Tr Co, Bait
J A D 15 Junel51921 2H Reading Term, Phlla, Pa
do
do
J
A
J Julyl5 19213%
do
do
MAS Moh 11958
J
J July 1
A
MAN Nov
F A A16 Feb
4
4 H g semi-an Oct
A
A
O Oct
5 g
A
A
O Oct
5 g
25.000,000
Merc
1 1941
J
1°
New
1936
11935
Guar Tr A S D Co. Phlla
16 1942
22 1944
Lloyds Bank. Ltd.. Lead
Nat'I Park Bank. N Y
I 1947
Equitable Trust Co. N Y
1 1951
do
do
I 1928
1 1951
J
A
A
J July 1 1951
See Text
Q—M
do
A
O Apr
J Jan
A
do
do
,
do
do
do
$46,529; taxes (incl. war), $33,904; other income, $22,199; net income,
$168,234. Dlvs. of 24% were paid in 1910-11; in 1911-12, 24%: in 1912-13.
14%; In 1913-14. 11%; 1915, 7H%; 1916, 7%; 1917, 8%; none since.
Federal
Compensation.—$133,410 yearly during Federal control.
Sec.. W.C. Parker. N. Y.
Office, Durham.
109, p. 577.)
Pres., B. N. Duke. N. Y.;
N. C.—(V.
DURHAM UNION STATION CO.—Owns passenger station at Durham,
used by the Southern Ry., Seaboard Air Line
Norfolk A Western Ry. and Durham A Southern, which each own onefourth of $33,300 stock.
Lease Drovldes for rented by several tlaes sufficient
N. C., opened May 1 1905 and
Ry.,
to pay
Pres., F. S. Wynn. Sec., W. M. P.
int. and other charges.
Desmond.
EAST BROAD TOP RR. St COAL CO. (Pa.).—Owns from Mt. Union.
Pa., to Alvan, Pa., 32.54 miles; Orbisonia to Neelyton, Pa., 9.60 miles
Rocky Ridge to Evanston, Pa., 4.90 m.; Coles to Midvalley, 2.49 m.;
Neelyton to Stanton, 1.53 m.; total, 51.06 m.
A coal road opened In 1874.
V. 97, p. 1663, 1822.
Stock, $938,700 (par $50). of which $246,000 is
6% non-cum. pref.
Second mtge. 4% income bonds. $464,000, due Jan.
1958, given in 1908 for back interest from 1885.
Year Dec. 31 1919:
Gross, $500,643; net, $107,344; other income, $17,139; Interest, $42,156;
pref. divs. (6%), $14,805; com. divs. (6%), $41,472; bal., $10,867.
Change in Control.—The Rockhill Coal A Iron Co. early In 1920 acquired
substantially all of the outstanding bonds and capital stock of the company.
V. 110, p. 1193.
Office, 1017 North American Bldg., Philadelphia.—(V. 110, p. 1186.)
EAST CAROLINA RY.—Owns Tarboro to
Incorporated In North Carolina July 1 1898.
Hookerton, N. €., ,38 miles,
Leased to Pres. Henry 0.
Bridgers for 4% yearly on stock, payable Dec.
line contract with U. S, Govt, was
signed.
MAHANOY
EAST
10.
In Jan. 1919 short
V. 108, D. 480.
Bonds , see
$200,000; outstanding, $55,500; par, $100.
Pres., Treas. & Gen. Mgr., Henry C. Bridgers;
Office, Toronto.—(V. 108, p. 480.)
Stock auth.
table above.
Sec., Haywood P. Foxhall
RR.—Owns from East Mahanoy Junetion to 8t.
11.35 m.; 2d track, 4.26 m.; total traok 20.97 m.
Nicholas and branches,
Re-leased Deo. 11896 for 999 years to
Little Sohuylklll Nav. RR. A Coal Co.
and lease assigned to Phlle. A Read.Ry. Of the stock $286/
deposited by Read. Co. under its ftemeral mortgage.—V. 106. p. 923.
at 5% on stock,
000
was
EAST PENNSYLVANIA RR.—Owns
35.77 miles; miles 2d main track, 34.64;
Reading. Pa., to Allentown. Pa.
all track, 101.21 m. Leased for 999
from May 1 1869 to the Phlla. A Reading RR. at a rental of 6% per
ann. on the stock A Int. on bonds A taxes. Lease assumed in 1899 by the
Phlla. A Read. Ralltsap Co.
Of the stook, $1,275,300 was owned by Read¬
fears
ing Co. Dec. 31 1920,
$1,271,450 being deposited under gen. mtge. of 1897
NORTH CAROLINA RR.—A narrow
EAST TENNESSEE & WESTERN
road from Johnson City. Tenn., to Cranberry. N. C., 34 m.; also John¬
son City to Valley Forge, Tenn.. 12 m.. third rail.
Controlled by Cranberry
Iron A Coal Co.
V. 96, p. 1156. 1296.
Capital stock, $490,800. Dividends, 4% paid since 1908-09; In 1909-10
8%; 1910-11. 9% A 10% extra; 1911-12. none; 1912-13. 18%; 1913-14,
17%; 1914-15, 15H%; 1915-16. 13M%: 1917, 4%; 1918, 13%; 1919, 18%;
1920, 12%.
For year ending Dec. 31 1920: Gross, $446,985; net, $118,061;
other income. $6,336; deductions. $35,334; net income, $89,063.
Pres.,
F. P.Howe, Johnson City.—(V. 96, p. 269.)
,
gauge
DUNVEQAN St BRITISH COLUMBIA RY.—From
Dunvegan to the western boundary of the
Spirit River, 357 miles, was placed in operation in Nov. 1916,
together with lines from Spirit River to Grand Prairie, 55 miles, and the
Central Canada Ry (V. 100. p. 1436). Wlnagami to Peace River, 48 K miles.
Oarbondale, Alberta, northward to Lac la Blche, Alberta. 113-2 miles.
V. 102.
o
975
The 30-year 4%
debenture stock (at present lim¬
ited to $7,000,000, at $20,000 per mile, on said 350 m.), Is guaranteed, prin.
k int., by the Province of Alberta.
The $2,420,000 1st M. 4^s of 1916.
with same guaranty, cover 120 miles of extensions.
V. 1Q3, p. 938. See
V. 95, p. 1273; V. 96, p. 419, 1422.
Operation of the road has been as¬
sumed by the Canadian Pacific Ry.
The latter company Ls to control and
EDMONTON
Charges.
Balance.
Gross.
Oper.Inc. Fed Comp. Oth Inc,
$993,750 def.$413,508
$83,494x$530,059 $50,183
$4,758,601
1,040,504
def .417,131
317.242 x594,637
28,736
1918
4,824,186
-Not available649.753
1917..... 4,316,294
1,059,672 def. 169.476
890,197
827.379
1916-17
4,074.693
x Represents income from lease of road.
Pres., Edward Pennington; Sec., W. H. Peck.—(V. 110, p. 969.)
Year—
1919
dian
D June 1 1939
MAS July
office.
St,
do
Held by
London
8,696,814
131,577
2,329,828
2,056.250
392,948
2.754,705
x5.122.051
Fed'l compensation
Other Income
MAN May 1
Wall
New
Matured
j" A"
}g
3,000,000
1,792,000
65
1304
DULUTH MISSABE
Steel Corporation.
refused the 6 months extension
A
4
11,438,356
$2,420,000
50
"36
A
F
Company's
1 1925
1 1937
A Aug 1 1990
O Apr
J Jan
4
500,000
£1 Ac
Ac
A
4
497,750
2,126,900
495.000
38
100
1908
A
J
1 1922
11941
J Jan
J Jan
A
J
Where Interest and
Dividends are Payable
and Maturity
£ *
300,000
1.000
1908
1908
Mountain Iron, Minn., 48.32 m.;
The company
5 g
36
c*
$300,000 gold-*..*
999 yrs Phlla A R
First mtge gold guar p A 1 by PAR RR (end) kvc*
East Tennessee Virginia & Georgia—See Southern Ry
East Tenn fit W No Car—1st M g (V 81 p 1723) GuP.zo*
Eastern Ry of Minnesota—See Great Northern
Edmonton Dunv St Br Col—1st M deb stk go see text
1st M (on extensions) $2,420,000 g $20,000 p m
El Paso & Northeast—NMRy A C col tr g red 105,.c*Nx
New Mexico Ry A Coal M gold
c*Eq.x
Alam A Sac Mt first mtge $900,000 gold guar
Nx
El Paso A Rook Isl 1st M $2.500,OOOg guar..Eq.xo*
Dawson Ry A Coal col trust gold guar d A I.Eo.xc*
EI Paso Southwestern Co—Stk (auth $35,000,000)
b Includes $57,000 In
a7,004,997
b243,000
60,000
1.000
i'
500,000
464,400
92,500
50
10
Bast Mahanoy RR—Stock
Cast Pennsylvania—Stock 6% guar
a
5 g
3.000.000
J
A
1,077,000
3.816,000
15.107,000
500
50
„
Shade Gap 1st mortgage
1.000
1,000
1.000
6 g
5 g
$1,174,000
9.145,000
1885
1887
1890
1892
1909
1911
1905
Durham Union Station—First M $75,000g-.G.xo* Ar
Dutchess County RR—See Central New England Ry
East Broad lop RR & Coal—1st M ext 1908...
2d M Incomes
$1,000
1892
1906
Places
Dividend
Last
Miles
RAILROAD COMPANIES
[For abbreviations, &c., see notes on page
First oonsol
[VOL. 112.
BONDS
RAILWAY STOCKS AND
53
Edmonton, Alberta, through
Province at
operate the company for a
period of five years, taking an option to pur¬
that period.
V. Ill, p. 493.
Pres.,
V.-P., Charles Murphy.—(V. 112. p. 1399.)
chase the line at any time within
D. C. Coleman, Winnipeg;
NORTHEASTERN CO.—Owns the El Paso A Northeastern
Corrlzosa, N» M., 144 miles, with
controls and operates El Paao A Rock Island Ry., Carrigoea to Santa Rosa, 128 m.; Alamagorde A Sacramento Mtn. Ry.. Alamagordo .N. M
to Russia 31 m
Dawson Ry.. D*w«jn to Tueumcarf V vr
132 m.; total, 461 miles.
Also owns the entire capital stock ($400,000)
of the Alamogordo Lumber Co.
Name changed from New Mexico Ry. A
Coal Co. in 1905.
Operated as eastern division of El Paso & Southwestern
Company, which also owns Burro Mtn. RR., Jet. to Tyrone, N. M., 13 m.
EL PASO &
RR. and
Ry. from El Paso. Tsx., to
branches, 26 m.;
See below.
The Dawson
Co.. stook $100,000, has Issued $3,000,000
guaranteed, prlnoip&l and interest, and are
and bonds ($3,000,000 each) of the Dawsen Ry., and
those of the Dawson Fuel Co. ($1,000,000 each), the latter owning about
25.000 acres of coal, mineral and timber lands, being sold In 1905 to the
Stag Canon Fuel Co.
V. 73, p. 900; V. 74, p. 776: V. 87, p. 1604. 1536.
Ry.
A Coal
collateral trust bonds, which are
secured by
the stook
STOCK.—Stock, $12,000,000.
Ownsd by El Paso A Southwestern
Co.
A Coal Co. ooll. trust 5s of 1897 are
secured by the stock and bonds or El Paso A N. E. Ry. of New Mex. ($2,700,000 of each), the stock of the El Paso A N. R. RR. of Texas. $300,000
(no bonds Issued), and all the stock ($100,000) and all the bonds ($1,500,«
900) of th« New Mexico Fuel Co.. the latter covering 3.500 acres of coal
lands.
▼
74. p. 776.
The other issues are guaranteed.
New York office. 99 John 8t.—(V. 87. n. 1605 *
BONDS.—The
EL
PASO
New Mexioo Ry.
controlling
below)
(largely owned by Phelps,
Interests). Dividends: 1910, 7% cash and 10% stock?
SOUTHWESTERN
—A holding company,
the El Paso A N. E. Co. (which see above) and El
and other properties.
Capital stock $25,000,000
Paso 8. W.RR. (see
Dodge A Ce. mining
1911 to 1915. 5% yrly.; 1916, 6%; 1917J» 1919,
8% p. a.
MAT, 1921.]
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations, &c.,
Mites
see notes on page
Date
Par
Amount
Bate
When
Road
6]
Bonds
Value
Outstanding
%
Payable
El Paso & S W RR.—1st ARefMg $25,000 p m ...F
GlIPsso Unioo Pass Depot—1st M g $240,000 sf.Eq-x
Elgin Joliet St Eastern—1st M ($10,000,000) g.Cex.o*
458
2.81
236
Elmira & Lakfe Out—Sodas Bay ft So—ist M g.Un.xo
Elaira & Williamsport—Stock com 5% rental
;_N.o
Preferred stock 7% rental 999 years Northern Cent
First mortgage extended 1910
kv
Income bonds 999 years to run.....
so*
Erie & Kalamazoo (leased) stock Toledo to Palmyra
Erie ft Pittsburgh—Stock 7% rental 999 yrs Penn Co.
34
73
73
73
-
Brie By 1st M Buff Br Hornellsv to Attloa gold.zo*
First consol mtge $30,000,000 gold $ or £_F.zo*
NYLE A West First Consol mortgage gold
zo*
Buff AS W 1stMgold ext 1918at6%red 105 g.xo*
Newburg A N Y 1st M gold extended in 1889.
to*
Ch A Brie 1st M g (Marlon O to Ham'd Ind) .Ce.zo*
Brie ft Jersey 1st M g s f red text
G.c*&r*
Genesee River 1st M gold s fd red text....Q.c*&r*
Chicago ft Atlantic Term 1st M ext 1918 gold..CezB—Erie Railroad Company Bonds
2nd mtge on Buff A S W gold ext 1918.
Q.xo*
First Consol Mtge of 1895, securing—
.
y
$140,000,000
$6,185,000 pledged,
z
1,000
500
50
50
83
1.000
1890
100
100
100
447
1847
447
1849
447
475
475
60
526
1853
526
67
12
250
39
32
1858
200
1861
1870
1878
1877
1868
1890
1905
1907
1888
1 -Mar.
1921.
198
$
Jan.
1—
1920.
1920.
Deduct—
$
Oper. revenue 12,761,391 14,790,468
Accrued
6,161,447
com.
U. S. Govt. 4,135,114
Other income. 1,463,980
Oct
F
ft
do
do
do
do
do
11950
12862
do
See text
Lincoln Nat Bank. N Y
June 10 '21 IX Amer Exch NatBank, N Y
Q—M
June 10 '21 IX
do
do
Q—M
A
3 July 11940
Penn RR Agent, Pfalla
S J
M
A
M
P Morgan
do
2%
2%
A
A Co, N
do
do
May 11947
Sept 1 1939
Moh 1 1923
A
M
Y
do
50 Church St, New York
J P Morgan ft Co, N Y
Oct 11930
June 11928
do
do
do
July 11931
Septl 1930(ext)
4 g
4 sr
do
do
do
do
do
M
A
Sept 11930(ext)
da
db
J
A
July 1928 (text)
do
do
J
A
Jan
1 1929
do
do
M
A
ft
May
July
July
July
do
do
11982
50 Church St, New York
1 1955
do
do
1 1957
do
do
1928 (text)
ft
ft
J July 1928 (text) 50 Churoh St. New York
A
J
A
J Jan
J
A
J Jan
1-Dec. 31-—1919.
Tov
51 ppm
olo
$
f
$
(
:/2.470,384(j,
Miscellaneous I
Rentals
4,135,114 Divs.
2,656,592
(8%).. 2,000,000
2,904,410
92,904
2,000,000
50 Churoh St, New York
1 1996
1 1996
do
do
ERIE ft PITTSBURGH RR.—Owns New Castle, Pa., to Glrard, Pa..
79.56 miles; branch to Brio docks, 3.41 m.; trackage to Erie, 16.74 m.; total
operated, 99.71 miles.
Leased to Penn. RR. for 999 years in 1870 at 7%
on stock and interest on bonds and since Jan. 1 1918 operated directly by
It.
Under agreement of Nov. 1 1905 the Penn. RR. provides sinking fund
installments required by the gen. mtge., the E. & P, to deliver Its 3X%
debentures at par for such advances and at maturity of the Gen. Mtge.
bonds to exchange new mtge.' bonds therefor.
p.
ELGIN JOLIET ft EASTERN RY.—Owns from Waukegan, 111., on Lake
Michigan, via Joliet, to Porter, Ind., 129.95 miles, and branches; main line
owned, 194-89 m.; spurs to coal mines, ftc., 40.87 m.; trackage, 245.23 m.:
2d track, 41.67 miles; side and yard tracks owned, 179.24 miles; total,
701.90 miles.
Also leases Chic. L. S. ft East., 18.23 miles, with 332.35
miles branches and spurs and 14.85 miles 2d track, and 123.28 yard tracks
and sidings, for 60 years from June 1 1909, and. with the tJ. 8. Steel Corp.,
guar, its $9,000,000 4X% bonds, p. ft i.
V. 89, p. 1410Leases from mis¬
cellaneous foreign roads, branches and
spurs to mines and industries,
2.20 miles; yard tracks and sidings, 3.86 miles.
Controlled by U. 8. Steel
Corp.
The company refused the six months extension of the Government
guaranty.
In Nov. 1920 received authority to issue $1,800,000 6% equip¬
ment trust bonds, payable in 15 annual installments of $120,000 each be¬
ginning in April 1924. V. Ill, p. 2228.
STOCK.—$10,000,000, as increased from $6,000,000 in June 1909; par
$100.
Dividend. 4% yearly (in Dec.) in 1899 to 1919.
Jan. 1 -Mar. 31
Jan. 1-Dec. 31
EARNINGS—
1921.
1920.
1920.
1919.
Gross
$6,412,597
$5,558,213 $25,630,441 $19,310,380
Net after taxes
1.664.376
1.261,871
6.005,6323,916,881
Income account, year ended Dec. 31 1919: Govt, compensaiton, $2,862,177; other income, $210,426; int., rentals, ftc., $2,482,624; dividends.
$400,000; bal., sur., $189,979.
Other
Dividends Balance,
Year— Earnings.
Taxes.
Income.
Rents. Ac.
(4%)
Surplus.
1917 —*.$15,816,473 $4,199,663 $214,824 $3,583,748 $400,000 $425,742
1916
14,138.323
4,731,971
199,539
4,194;705
400.000
336,805
Interest,
—.
Pres., A. F. Banks; V.-P., 8. M. Rogers; Sec. & Treas., F. L. Koontz,
Chicago.—(V. 110, p. 1289,2192,2568; V. Ill, p. 1660, 2228; V. 112, p.61.)
ELKIN St ALLEGHENY RR.—This company was chartered early in
1920 with $1,000,000 authorized capital stock to take over, operate and
extend the road of the same name sold at receiver's sale in the summer of
1919.
V. 109, p. 2074.
This line, projected from Elkin to Sparta, N. O..
about 40 miles, has been completed ana is in operation between Elkin and
Veneer. 16 miles.
Beyond the latter point, it is said that about 20 miles
of grading have been done, and the new company intends to continue con¬
struction not only to Sparta, but to Jefferson. N. C., a total distance of
Those interested in the
plan are H. C. Chatham, O. B.
Penny ^Winston-Salem, N. C.; J. Clinton Smoot, North Wilkesboro, N. O.;
R, A. Doughton. Sparta; J. F. Hendren, G. T. Roth and others of Elkin.
N. O.—(V. 110, p. 764.)
ELMIRA St LAKE ONTARIO RR.—Owns from Canandaigua, N. Y., to
Chemung Jet., 64.19 m.: Sodus Point to Stanley, 34.06 m.; other, 1.47—
total, 99.72 m.
Leased to the Northern Central, which owns all the
$1,500,000 stock.
Penn. RR. assumed lease in 1914.
Lease may be termi¬
nated on 30 days' notice.
Rental, net earnings.
Cal. Year—
Net.
Interest, &c.
Deficit
1920
oper. def.$532,463
$25,993
$558,456
def.
oper. inc.
oper.
113,935
9,946
Aug. 1 1920,
395.)
•
from Jersey City to Chicago, 111., and branches, 2,259 miles; trackage rights,
131 miles; owned and leased to other companies, 12 miles; leased and re¬
leased to other companies, 2 miles; total, 2,404 miles; second track, 1,268
miles; third track, 18 miles; fourth track, 18 miles.
Lines Owned in Fee—
151,188
240,751
265,123
230,625
ELMIRA ft WILLIAMSPORT RR.—Owns from Williamsport, Pa., to
Elmlra, N. Y., 73.49 miles.
Leased to the Northern Central Ry. for 999
from May 1 1863.
Lease was'assumed in 1914 by Penn. RR. Co. as
of Jan. 1 1911.
The dlvs. on the common stock are 5% and on the pref.
7%, less taxes, making div. on common 4.52%, and on pref. 6.32%.
The
$963,000 1st 6s due Jan. 1 1910 were extended at 4%. V. 89, p. 1667.
Cal. year 1919, rental, $130,020; deductions, $70,001; divs., $59,742;
surplus, $364.—(V. 97, p. 666.)
years
ERIE & KALAMAZOO RR.—Vulcan near Toledo to Palmyra, 22 miles.
Leased in perpetuity in 1849 to Lake Shore (now N. Y. Central RR.) at
$30,000 per ann.
Dividends 1913 to 1916, 9X% per ann; 1917, 9X%:
191&, 9%; 1919, 3X% in Feb.—(V. 106, p. 817.)
Miles.
Piermont, N. Y„ to Dunkirk..
Buffalo to Jamestown, N. Y.„.
Buffalo to Corning, N. Y_
447
66
140
branches....
15
Montgomery A Erie
•10
92
........
Stock all (a) or nearly all
Northern RR. of New Jersey..
Goshen & Deokertown
Rochester A Genessee Valley..
•20
•12
•18
83
(b) owned. Other lines
aCbloago A Erie RR
a Jefferson
Miles.
Leased LinesAvon Gen. A Mt. Morris
206
H or null to Buffalo
Other
Net, after
Debentures
$672,356.
STOCK.—The speolal betterment stock ($2,500,000 auth.) is subordinate
to the old stock, but guaranteed 7% dividends.
Dividends on old stook are
subject to a 4-mlil tax on assessed value, on speolal betterment, tax-free.
EARNINGS.—Loss to the lessees in 1912, $46,222; 1913, profit, $38,332;
1914, loss, $111,322; 1915. loss. $55,754; 1916. profit. $102,430; 1917, loss,
$36,632; 1918, loss, $82,769; 1919, loss, $213,250.—(V. 105, p. 2093; V. 106.
ERIE RAILROAD,—(See Map on preceding page.)—Embraces trunk line
EL PASO UNION PASSENGER DEPOT CO.—Owns depot at El Paso.
Tex., which was completed about Nov. 1 1905.
Leased by El Paso North¬
eastern, Ei Paso Southwestern, Galveston Harrisburg ft San Antonio (Sou,
Pac. Svs.). Atch. Top. ft Santa Fe, Texas ft Pac. and Mex. Cent, railroads
on a
wheelage basis providing for maintenance and all charges.
8tock
auth.,
$240,000;
outstanding, $88,800.
Owned equally
by six roads
named.
Of bonds (see table above), $12,000 mature Jan. 1 yearly, begin¬
ning 1916.
V. 78. p. 104; V. 81. p. 1043.
Pres., H. J. Simmons; v.-Pres.,
G. S. Waid; Sec., v. R. Stiles; Treas,, U. S. Stewart.—(V. 112, p. 161.)
Jan
A
J
V. 110, p. 2487.)
1919
A
A
i g
4 g
EL PASO & SOUTHWESTERN RR.—El Paso, Tex., to Tucson, Ariz.,
branches, 457 miles.
Owns Burro Mtn. RR. Co. Jet. to Tyrone,
Forms the western division of the EI Paso ft Southwestern
system (sec El Paso & Northeastern Co. above), its $14,000,000 stock and
$5,055,000 1st M. 5s being held by the El Paso ft Southwestern Company.
which see.—(V. 103, p. 1705; V. 101, p. 287; V. 107, p. 82, 498, 1003;
about 75 miles.
A
J
5 g
N. M., 13 miles.
Cross
J
See text
See text
W63.000
and
„
71 Broadway, New York
Treas Pa RR.PhilaftN Y
Broad St Station, Phila
May 1 1941
July 11924
A
1,000 35,000,000
1,000 r35.885.000
Total
5,599,094
6,791,706
Bal., surp.. 1,128,710
1,551,700
Pres., T. M. Schumacher; Sec., Geo. Nofcman.—(V. 112, p. 257.)
Dec. 31
A
1.000
$3,148,359
inc_ 3,874,948
3
M
Jan 1 1923
Farm L ft Tr Co, NY
Jan 1 1922-1935 Equitable Trust Co. N Y
1895
$3,744,206 $14,490,557 $12,761,391
Net after taxes
65,189
970,456
2,747,722
3,149,989
REPORT.—Report of entire system (1,028 miles) for year ending
Dec. 31 1919, V. Ill, p. 294.
1919.
1918.
1919.
1918.
Net oper.
A
Places Where Interest and
Dividends are Payable
$1,683,000 pledged.
——Jan.
EARNINGS—
A
5 g
1,000 y10,706,000
7g
500 Ac
z2,016,500
1E
50 Ac
1,500,000 (5) 6g
250,000
1,000
S*
1.000
12,000.000
6 g
1,000
7,262.000
6 g
5,888.000
1.000 ftc
1.000
300,000
5*
Federal Compensation.—The annual compensation from the Government
computed for the test period at $4,145,102, was reduced to $4,135,114 on
account of loss sustained through operation of the Cloudcroft Hotel prop¬
erty. See V. 109, p. 368.
Gross
i K
5g
4X
182,400
Ac
ft
M
April 1907
April 1907
2,482,000
2,149.000
4.617,000
2,926,000
709.500
1.000
1,000
1,000
1.000
500 Ac
1857
5 g
5 g
5
7
4
5
Text
Last Dividend
and Maturity
1895
1895
67
F.xo'Ar
gold
1860
83
83
(1) Prior lien bonds $35,000,000 gold..F,xo*Ar
lien
50
50
50
Special guaranteed betterment stock $2,500,000
Second mortgage (ext In 1919) gold call 110..zo*
Third mortgage (extended in 1883) gold
..so*
Feurtn mortgage (extended In 1880 and 1920) g zo*
Fifth mortgage (extended in 1888) gold
xc*
168,000
10,000.000
500,000
500.000
500.000
963.000
570,000
300.000
2,000.000
1.723,800
3,755,000
112,481.900
16.000.000
47,904.400
J
J
5s
$5,055,000
$1,000
1,000
1,000
1,000
"22
General mtge (now 1st) $4,500,000 gold guar.Ua.k
Erie Railroad—-Common stock $153,000,000 auth
Seoend pref stock 4% non-cum redeemable at par..
First pref stock 4% non-cum redeemable at par...
A—Old Bonds Assumed—Roads Consolidated
N Y A Brie 1st M Plerm to Dun ext 1897 gnld.xo*
1903
1905
1891
1884
1863
......
(2) Genera]
53
*250
*45
RR
N. Y. A Greenwood Lake RY
Erie A Wyoming Valley RR...
aNypano Railroad
bTloga Railroad.............
...
...
Other lines...
...........
*
See this company.
*54
64
422
58
49
Leased to Nypano
Cleve. A Mahoning
Sharon Railway
Other lines
RR.—
Valley RR.
*81
*31
15
....—
Trackage
75
.........
Lines In system
2,259
N. Y. Susquehanna A Western. *221
bNew Jersey A New York RR*38
Frontier Electric RR., V. 100, p. 1900.
HISTORY.—On Deo. 1 1895 suooeeded, per plan in V, 01, p. 308, the
N. Y. Lake Brie A Western RR. Ce., sold in foreclosure under its second con¬
solidated mtge.
The company holds in fee or
through ownership of all or
ork to Chicago (Including the
?raotloally all the stook of the Nypano RR, companies A Brie companies)
subsidiary and Chic. the line from New
COAL PROPERTY.—The allied coal properties at last advices aggre¬
acres of anthracite, of which about 9.000 acres, and 53.000
of bituminous coal lands were held by allied companies, 14,000 acres
of bituminous held under mineral rights.
Pennsylvania coal properties ac¬
gated 12.400
kcres
quired in 1901
are additional.
V, 82, p. 1322.
Operated in Regions.—Announced in Feb. 1920 that with the return of
road to private control, the line would be operated in four regions, namely:
New York, Chicago, Ohio and Hornell regions, under four managers.
V.
110, p. 764.
STOCK.—Prior and General Lien bends of 1895 have 10 votes for each
$1,000 of principal,
Provisions of pref. stock were In "Supplement" of
April 1897, page 3. V. 00, p. 335, 673.
DIVIDENDS (cash)
On first
preferred:
%\ '01. '02. '03. '04. '05. '00. 1907. '08 to 1917;
f 146 3 3X4
4
4
Apr., 2
0
J
2
4
Apr., 2
0
On second preferred...
..
....
BONDS.—First
Consol. mtge. of 1895 for
$175,000,000 (Farmers
Co., trustee)-—see abstract, of deed, V. 62, p. 89, secures the
$35,000,000 Prior Lien (V. 103, p. 1032) and $140,000,000 General Lien
Loan ft Trust
bonds.
Both series have voting power; see "Stock" above.
Of the $140,000,000 Consol M. Oen. Lien 4s. $92,668,000 were reserved
altlmate acquisition of bonds and guaranteed stocks left undisturbed
for
en
various parts of the system
(see list, V. 62, p. 89), and $17,000,000 were
reserved for new construction, betterments, additions, Ae., after 1897—
not over $1,000,000 to be used in any one year. On Dec. 31 1920 $55,104,000 Gen. Lien bonds had been issued, of which $35,885,000 were in hands of
the
public and $19,219,000 owned by Erie RR. (on Dec. 311920 $18,217,000
pledged to secure the $15,000,000 notes and $1,000,000,
obligations.—(V. 104, p. 1044).
V. 102. p. 2077; V. 97. p. 1898;
of tnese had been
for other
Y. 100, p. 1168,
The collateral trust 4s of 1901 are secured by 51% of the entire N. Y
3usq. A Western stock ($20,000,000 total issue), all of the Pennsylvania
Coal Co. stook, and the stook of the Erie A Wyoming Valley RR., Sorantoa,
Pa., to Lackawaxen, 65 miles, and Delaware Valley ft Kingston RR.
Sinking fund of 10c. per ton of coai mined from mines of Penn. Coal Co.
7, 71, p. 1219, 1311: V. 72, p. 44, and circular, p. 136, 532, 257: V. 79, p.
112; $13,345,000 included In the $34,000,000 "outstanding" were In sinking
„
fund Dec. 31
1920.
■
„
_
The Gen. M. Convertible 4s of 1903 ($50,000,000 authorized) cover the
entire system subject to prior liens, and when issued were convertible into
for all except series
option of holder for
value of stock for $100 of bonds).
There
la no Series "O",
The other series on Dec 31 1920 included:
Amounts Held by—
Public Co's Treas.
As Collateral.
Series A no longer convertible..
$10,000,000
— . _ ......
Series B
do
do
11,015.000
$900
$984,100
Series D convert till Oct. 1927
19,027,100
8,372.900
The $8,372,900 series D 4s are pledged as part security for the $15,000,000
notes of 1919.
V. 76, p. 382, 541; V. 78, p, 768; V. 79. p. 2205; V. 84,
9. 270; V. 102, p. 66. 345; V. 105, p. 606.
The shareholders on Dec. 1 1916 authorized a Refunding and Improve¬
ment mortgage, limited to $500,000,000 (maturing as to Series A at
Dec. 1 1936). to provide for refunding existing funded debt and for
necessary capital expenditures over a long period of years.
V. 103, p. 412.
In Nov. 1917 authority was obtained to issue $15,000,000 6% Series A
Ref. A Impt. Mtge. bonds and forthwith pledged $8,750,000 thereof as
stock, but the conversion period has expired
"D" bonds which till Oct. 1 1927 are exchangeable at
common
common
stock at 50 ($200 par
^
^
Sn
W
£
s
QQ
H3
O
O
W
QQ
U
w
o
§
QQ
<1
o
h*
fcO
Mat, 1921.]
RAILWAY
STOCKS AND BONDS
RAILROAD COMPANIES
Miles
Date
Par
Amount
Bate
When
[For abbreviations, Ac., see notes on first page]
Road
Bonds
Value
Outstanding
%
55
Payable
Last
Dividend
Places
and Maturity
Where Interest and
Dividends
are
Payable
Erie RR (Concluded.>—
Penn coll trust M $30,000,000 g s f (text) Ba.rc&i
General Mortgage Series A, $10.008.000..O.xc*Ar
convertible.
Series B. $12.000,000
Series D, $28,000,000
1903
$50,000,000
Refunding A Impt Mtge $500,000,000 g Ser A
Ba
Collateral gold notes $15,000,000 g call 101 Ba.yc^
Collateral note to Secretary of Treasury of U 8
Equipment trust certfs—see table in text
Avon Geneseo & Mt Morris and Rochester & Genenee
—
1903
1916
__
1
F
A
A Feb
4 g
A
A
4 g
4 g
A
A
O Apr
O Apr
A
A
O
Apr
6 g
A
A
O
Apr 1 1922
6
M
&
1901$ 1,000
1903
xc*Ar
xc*Ar
Ac *34,000.000
1,000 Ac SIO.OOU.OUU
1,000 Ac sll,015,000
100 Ac u19027.100
500 tNone Apr' 20.
1919
15.000.000
1.000
1920
8,000,000
Valle y Stoc ks—See t hose
of En tire (•) or a Maj orlty
C—Bonds on Properties Controlled by OwnerrJiip
Bergen Co 1st M Rath Jot to Ridgew extended._.x
cGoshen & Deok't'n 1st & 2d Ms (560,000 are 2d).z
eMont A Erie 1st & 2d Ms (540,500 are 2d)
z
Jefferson 1st A 2d Ms ext (Honesdale Branch)
1st M Carbon to S depot g ext '19 red 105.-FP.zc*
Long Dock Co cons M g (sow 1st M) (see text) _xo*
eN Y & Greenw L prior lien M 51.500,000 geld__Nx
ftNew Jersey & New York 1st M ext in 1910
xo*
General mtge 51.200,000 (red 105 after 5 yrs) g _x
NYLE&WC RR 1st M "lawful money". Mp.zc*
10
1881
500
1885
52
1896
100
500
Ac
500
Ac
NYLEAWDAICo exg'13red text (V96.P 1770) F.xc*
NYPa & Ohio prior lien mtge gold 5 or £
422
F.zc*
Do
Leased lines—see separate statements for CI evelan d
&
M
,NY Susquehanna & Western—Northern New Jers ey—T toga R
Essex Terminal Ry Co first mortgage
22
Ac
ahonlng
R—See
Evansville Indianap & Terre Haute Ry—Com stock
1920
44
1911
50 Church St. New York
50 Church St,
New York
50 Churoh St,
NeV York
1 1935
MAN May 1 1946
M
A
May 1 1950
50 Church St, New York
A
J
O Oct
do
31 1932
Dec
A
M
J P
do
do
Mob 1 1935
A
do
do
MAN May 1 1922
A
J July 1 1943
J
on
do
do
do
Ry
Morgan A Co, N Y
A
J July 2 1942
6
J
MAN May 1 1950
MAN May 1 1930
J
&
J Jan 1 1932
«
500.000
See text
6
InterstateTABkOo, N
O
ove.
Florida Central & Peninsular—See Seaboard Air Line
Florida East Coast—1st M 512,000,000 g.Ba.xxc*Ar*
General lnoome M 5% non-cum 525.000.000
xx
Equipment trust certs ser A, due $50,000 yearly
Equipment trust certs ser B (auth $1,000,000) due
$100,000 yrly
do
S Sept 1 1930
7g
420.000
4,290.000
1,500,000
100 Ac
1,000
1921
Fltchburg RR—Bonds—See Boston & Maine RR ab
do
do
aoh oompan 7
e
100
1st M 30-yr 7% gold bonds call after 3 years.. 102._
Fernwood Columbia 6c Gulf RR—First M $500,000
Ref A mtge bonds due $5,000 yly '22 to '31 $300,000
do
Fidelity Trust Co, Phlla
50 Chtfroh St, New York
J P Morgan A Co, N Y
A
I*
1,000
1,000
500
do
do
Compa nles.
6 g
7.500,000
1,471.900
394.000
5
631,000
6 cur
1,100.000
5 g
3.396.000
4*4 g
8.000,000
and Sbar
Valley RR
Ac
1880
1892
1882
1883
1880
50 Church St, New York
1 1953
4M6&
Ac
1,000
1,000
34
1 1951
1 1953
1 1953
by (e) Lease
(5) of Capital S took, or
A
A
7
O Apr 1 1931
200,000
Various 1928-1929
6
246.500
Various 1926-1927
170,500
A
J July 1 1927-29
300.000
6 J
A
O Apr 1 1929
2,800,000
5H g A
1.000
*68-'69
'66-'67
8 '67-'69
37
1889
4 g
Ry
617
1909
1,000AO
4*4
"i.ooo
12,000.000
25,000,000
50.000
1917
1.000
700.000
g J
6
1914
6
1909
A
Bankers Tr Co, 14 Wall 81
D June 11959
New York
See text July 1 1959
MAN May 1
5
A
A
N Y, U S Mtg A Tr Oo
1922
O Oct 1 '21 to '27 NYUS
Mtge A Tr Oo.
ritu Further amounts owned by company Dec. 31 192 0 as fo Uows: Of r $19,217.0 00 pledge d, $2,000
unpledged: s $984,100 pledged. $900
unpledged; t $18,705,000 pledged.'$13,095,000unpledg ed; u
x I ncludes $13,345 ,000 held In sinking fund.
$8,372 .900 pled ged: w $937 .000 pi ed*« ed.
"
collateral security for a short-term loan aggregating $5,000,000, with the
right to use the remaining $6,250,000 as security for other and additional
loans, upon the basis of not more than $175 in amount of bonds for 6ach
$100 in amount of loan.
On Dec. 31 1920 $10,405,000 pledged, $4,595,000
unpledged.
In May 1918
OFFICERS.—Pres.,
V.-P.,
Brownell:
G.
F.
was
authorized to amend the mortgage
so as to
make possible
permission from the New York P. 9. Commission
to issue further $12,500,000
Underwood; V.-P. A
Gen. Counsel, G. F.
50 Church St.
-
3NT ow York»
McGarrah, A. M. Anderson, Ogden Mills,
F. D. Underwood, Geo. F. Baker, Myron T. Herrick, B. A. Eckhart,
L. F. Loree, E. J. Berwind, Mitchell D. Follansbee, Robert W. Pomeroy.
Grenville Kane, Julius Kruttschnitt, Geo. G. Mason, Geo. F. Brownell.—
(V. 112, p. 652, 744, 1399, 1518, 1609, 1865'.)
W.
DIRECTORS.—Gates
the extension of the old (underlying) bonds.
In July 1918 obtained
D.
Orcutt, Thos. C. Powell; V.-P. A Sec., George H.
N.
Minor; Treas.. W. J. Moody; Comp., August L. Sorensen,
6% series "B" Ref. A Impt. Mtge. bonds as
$12,500,000 notes issuable on account of improvements
V. 107, p. 82, 181, 291; V. 106, d.
1577, 1900. 2559.
In March 1919 $5,400,000 of "B ' bonds were pledged
as part collateral for the $15,000,000 note issue.
V. 108, p. 1060.
An
additional $4,300,000 Series "B" was auth. in Aug. 1920.
V. Ill, p. 588.
On Dec. 31 1920 $16,800,000 had been issued, of which $8,300,000 pledged
and $8,500,000 unpledged.
In Feb. 1915 sold $7.400,000 Erie A Jersey (closed) 1st M. and $6,000,000
Genesee River 1st M. bonds.
Both issues are subject to call as a whole or
ESSEX TERMINAL RY. CO.—Owns road from
Grand Trunk Ry. to
Amherstburg, Ont., 22 miles.
Entire $400,000 capital stock acquired
Feb. 1918 by the Canadian Steel Corp., Ltd., a subsidiary of the U. S. Steel
Corp., which In 1918 was constructing works at OJibway, Can.
Of
$420,000 1st M. bonds, $206,000 were in hands of public Feb, 1918 and
$214,000 were on Dec. 31 1920 held in the treasury of the U. 8. Steel Corp.,
subject to sale —V. 108, p. 1274.
In
part to July 1 1920 at 110, and thereafter at 115.
Cumulative annual
■inking fund for each issue. Both roads have been merged in the Erie RR.
In Indiana to carry out the plan and
security for not
over
and additions made and to be made.
V
Oo.
100. p. 474.481.397.555. 641.981. 1437; V. 104, p. 863.
The $15,000,000 coll. notes dated Apr. 1 1919 are secured (at par value) bv
tt»e
following collateral (par value): (a) Consolidated General Lien 4s 1996.
$18,217,000
(ft) Gen. Mtge. convertible 4s "D" 1953. $8,372,000; (c) Col¬
umbus A Erie RR. 1st 5s, $600,000; Erie RR. Ref. A Impt. Mtge. 6% 20rear gold bonds. Series "B," $5,400,000.
The balance, not purchased by
holders of the maturing notes or by new buyers, was taken at that
price by War Finance Corporation.
V. 108. p. 1060, 1164.
N. Y. Lake Erie A Western Docks A Impt. Co. 1st 5s (extended) are re¬
deemable at 105 thereafter.
V. 96. p. 1422, 1772; V. 97, p. 54, 370.
As to extension of bonds (three issues), due July 1 1918, see V. 106, p.
2756: extension of Jefferson RR., $2,800,000 5% bonds in 1919 at 5*4%.
See V. 108, p. 1165.
(Extension of N. Y. A Erie. $2,149,000 2d M.
5s. callable at 110.
See V. 109, p. 370.
J. P. Morgan & Co. on behalf of the company offered to extend the
$2,926,000 N. Y. A Erie RR. 4th Mtge. Extended 5% bond# from Oct. 1
1920 until Oct. 1 1930, at 5% per annum, and to pay $142 50 per $1,000
bond to such holders as present their bonds for extension on or before Sept.20
1920.
The extended bonds are subject to redemption at 105% and int. on
any int. date on 30 days' notice, and interest is to be paid without deduction
for any taxas which the company may be permitted or required to pay
thereon or to deduct therefrom (except such part of any Federal income tax
as may be in excess of
2%).
The present mortgage security is to remain
unimpaired.
In Aug. 1920 offered to extend $16,891,000 consol. mtge. 7s of 1870 and
$3,699,500 N. Y. L. E. A Western RR .1st consol. 7s of 1878, whicn became
due Sept. 1 1920 to Sept. 11930 at 7% interest, a payment of $10 per $1,000
bond to be made to assenting holders.
The extended bonds are redeemable
at 110.
Announced on Sept. 1 1920 that a sufficient amount of the bonds
had been deposited to permit the company to carry out the plan of extension.
V. Ill, p. 588. 692. 792, 895, 990.
the
Car Trust Series, Gold
Date.
••Q"--X
"R"-.x
*'S"
(Denomination $1,000 each).
Interest
Outstanding.
$230,000 To
324.000 To
300,000 To
330,000 To
1911
4*4 FAA
4*4 FAA
1912 4*4 JAD
1913 5
JAD15
1913 5
JAJ
1912
x
"T"._x
See V. 88, p. 882.
Mature in Installments.
Aug 1921
Aug 1922
Dec 1922
June 15 1923
$230,000
s.-a.
108,000
100,000
s.-a.
66,000
s.-a.
s.-a
587.000 To July 1 '23 $117Mor$118Ms.-a
5
JAD15
300,000 To June 15 1923
100.000 yrly
1913 5
MAS
280.000 To Sept 11923
56,000 s.-a
1914 4*4 F*A
45,000 s.-a.
315,000 To Aug 1 1924
1910 4hi JAD
213,000 s.-a.
1,917,000 To Dec 1925
"V"..x
"AA".x
EVANSVILLE INDIANAPOLIS & TERRE HAUTE RY.—Organized
Evansville
"CC"
"DD"
1916
1917
"FF"
1921
4*4 JAD
4*4 AAO
6
625,000 To June 1926
2.208,000 To Apr 1 1927
3,680,000 To May 1 1930
4,501,500To Jan 15 1935
240,000 To Feb. 14 1923
MAN
"No. 29"... 1920 6
JAJ 15
Wells Fargo A Co. 5
FAA
Equipment
62.500
s.-a.
184,000
s..a.
230,000
s.-a.
300.100
s.-a.
60,000
s.-a.
Director-General
for rolling stock al¬
located to this company.
See article on page 3
Government loan, V. Ill, p. 792, 895, 2041.
Federal Compensation, $15,841,263 yearly during Federal control (includ¬
ing the Chicago A Erie RR.).
trusts
issued
to
I.-S.
the
C.
Commission to acquire the
operate the property as the Evansville
112, p. 1399, 1977.
entire stock.
It is proposed to
Division of the "Big Four."
V,
Payment to holders of 1st Mtge. 6% bonds due 1924 and 1st Consol.
mtge. 6% bonds due 1926 under t9rms of Chic. A East. HI. Reorganization
Plan.
See Chicago A Eastern Illinois RR.
Authorized
Securities
First
by Neio Company1
Mortgage 30-Year 7% Gold Bonds, interest payable semi¬
annually.
Subject to call after three years at 102 and interest
on any interest date on 60 days' notice.
Denorn. $1.000, $500
and $100.
Mortgage limited to $2,500,000: issuable forthwith,
$1,500,000: further amounts not over $1,000,000 in all. only
under proper and carefully safeguarded restrictions, only for
betterments (including equipment), additions, extensions and
permanent improve'ts, incl. rebuilding and reconstruction—$1,500,000
Common stock of a par value of $100 per share
4,290,000
For details of Reorganization Plan, compare V. 110, p. 1186.—(V. 112,
p. 1399, 1519, 1977, 2190.)
FERNWOOD COLUMBIA & GULFRR —Owns Fernwood to Ft.Worth,
Miss., 44 m.
Stock outstanding, $100,000.
Bonds, see table above.
I. S. O. Commission in April 1921, authorized the company to issue
and sell $200,000 6% ref. A .mtge. bonds.
V. 112. p. 1865.
For cal.
year 1920, gross, $281,797; net oper. income, def., $82,707; total income
(incl. Fed. comp.), $18,270; deductions, $54,564; bal., def., $30,294.
In
1919, gross, $219,017; net, $23,731; int., Ac., $29,059; bal., def.,$ 935 1
Pres., F. B. Enochs; V.-P., N. E. Ball; Sec., J. L. Bentz; Treas.,J . M.
Fush.
Office, Fernwood, Miss.—(V. 112, p. 1865, 1977.)
The
1913
"BB"
agreement dated March . 16 1920 for
reorganization of the Evansville A Indianapolis RR.
Owns road from
to Terre Haute via Worthington, 134 miles.
Under the reorganization plan, the company entered into agreement
with the Cleveland Cincinnati Chicago A St. Louis Ry. Co., whereby the
"Big Four" was to operate the E. A I. RR. for the benefit and at the risk
of the New Company formed under the plan, for a test period of not to
exceed three years, with the option at any time during that period of
purchasing the entire capital stock of the New Company for the sum of
$1,000,000, payable In cash, or, at the election of the
Big Four, in bonds
of the "Big Four" issued under Its Refunding and Improvement Mortgage
dated June 27 1919.
The" Big Four" in April 1921 received authority from
the
FITCH BURG
RR.—See Boston
A
Maine
RR.
FLORIDA
EAST COAST ry.—Owns from Jacksonville. FIa„ via St.
Augustine to Key West, 522 m.: branches. 23 i m.; trackage, 9 m.J total.
765 m.
Forms connection to Southern and Eastern Florida and tnence to
Cuba
for
the
Air Line.
la now operated by
the boats, Ac., from
1115, 1281. 1583: V. 99. p. 400; V. 100. p. 140;
Atlantic Cast
Line, Southern
Ry. and Seaboard
Car ferry service from Key West to Havana, 96 miles,
Florida East Coast Car Ferry Co,, which in 1917 bought
the railroad
V.
102.
p.
co.
V. 97. p.
1346.
STOCK.—$12,500,000, all sold at par.
V. 96. p. 1840; V. 105, P. 497.
V. 107. p. 1344. 2156: V. 106. p. 2194.
Federal Compensation, $2.408,170( contract signed).
BONDS. Ac.—The 1st M. 4Ha ($12.000.000auth.) area
V. 88, p. 1620; V. 94. p. 1185: V. 98, P-1993^
on
incomes. 3
each, 2*4%; 1915.4%
first lien on 017
miles.
EARNINGS.—Jan. 1—Afar. 31—
♦
1921.
$24,894,187
Gross...
♦Net after taxes
*
1920 in
V.
__
Operating expenses, taxes, Ac
122.163,099
..136,853,541
Operating income
_defl4,690,442
*10,523,442
3,842,942
Net operating income ( 4 months)
3,288,619
Other income
861,977
Gross
receivable
income
Rent for leased roads
Other rents, Ac
Interest on funded debt.
Other interest, Ac
Sinking, Ac., funds
Balance,
surplus.
o
—Jan.
1919.
$
102,198,906
100.308,819
1918.
$
98,895,284
100,072,372
l,890,086defl,177,089
15,841,263
15.729,068
3,632,906
4.745,836
937,091
571.715
$18,516,982 $20,411,261 $21,046,619
2,276,331
2,382,960
2,451,573
305.612
342,462
548,080
10,610.357
10,417.127
10,448,818
742,616
867,381
768,347
976,015
1.005,000
1.027,140
3,462,572
5,122,104
6,220,370
Includes $2,630,860 Federal compensation for 2 months and $7,892,582
under 6 months' guarantee.*
•
for 6 mos. on account
1609:
$
Co. Acct.—Compensation
Dividend income
Int.
1920, 5%, as interest for calendar year 1920.
112, p.
1920.
Total operating revenues
*
$23,738,744
defl08,247def2,470,883
-
Excluding Chicago A Erie.
REPORT.—For
due
1920.
EARNINGS—
jlTL
Gross
Net after
taxes
31—
—Jan.
l-Dec.
31—
1920.
1920.
1919.
$1,095,804 $13,546,205 $10,121,222
1,417,652
1,486,562
2,408,726
1 -March
1921.
$1,831,289
1,498.110
"
~
REPORT.—For cal. year 1919, in V.
Ill, p. 890:
X1919.
xl918.
$10,121,222
operating revenue.
Net operating revenue
Federal compensation
$8,841,222
$1,860,606
2,408,171
Gross
$2,098,519
2,408,171
1917.
$8,140,167
$3,638,972
77,141
74,203
21,420
2,526,752
2,147,798
2,057,532
Surplus
334,576
372,058
1,189,361
x Figures revised by editor for both 1919 and 1918 in order to show the
precise amount*of Federal compensation for each year.
Pres., W. H. Beardsley; Treas., L. C. Haines.—(V. Ill, p. 890; V. 112,
p. 1143.)
Other income
Deductions
RR.—Own, Fonda to
(electric), 32.47
In Amsterdam
(electric), 3.78 m.; Belt line In Gloversvllle (electric), 3.84 m.; Hagaman
line (electric), 2.29 m.; second track (electric), 22.75 m.
Operates under
lease branch line Broadalbln Jet. to Broadalbin. 6.15 m. (steam); also local
FONDA
Northvlile
m.:
JOHNSTOWN
&
OLOVERSVILLE
(steam), 25.47 m.; Gloversvllle to Schenectady
Gloversvllle to
Fonda
(electric), 8.70 m.: Belt line
Miles
&c.,
see
notes on page 6]
Bonds
Value
Florida West Shore—See Seaboard Air Line.
Fonda Johnstown fit Gloversville—uornmon stock—
26
4
Preferred stock 7% cumulative
1,000
1904
1891
1.000
100
98
£881
1.000
1915
454
1.000
671
1881
1910
50
"V.ooo
1913
1.000
1,000
1908
and sidings,
road (127.33 miles of
22.79 miles on streets
(electric), 4.08 m.; yardings
13.82 m.: trackage, 3.98 m.; total, 88.77 miles of
track), of which 104.54 on private right of way and
$105,000 common stock of Goal
$1,850,000 Is reserved to re¬
Guarantees $30,000 Gloversville A Broad*
Glov. A K. 5s and $50,000 8% stock
The $200,000 6% bonds due April 1 1921 were extended until Mar. 29
1922 with interest at 6%.
V, 112, p. 1399.
LATEST
—Jan. 1—March 31—
—Jan.
1—Dec. 31—
EARNINGS—
1921.
1920.
1920.
1919.
Gross.
$337,618
$312,858
$1,431,562 $1,251,651
BONDS.—Consul. 44». VI.000,000 auth.;
tire prior Hens.
V. 76, p. 265.
albln 6s and $50,000 Johnstown
_
__
456.786
89.579
89.703
Net after taxes
Co-operative contract signed with U. S.
V. 109, p. 577.
RR. Administration in
383,667
August
REPORT.—For calendar years:
Years— Gross. Net aft.Tax. Oth. Inc.
1919-_$1,251,651
$40,425
$36,729
33,371
$463,478
$391,607
375,266
2083!
1,123,137
—V. 112, p. 1399,
Pref.
Int., <%c.
Surplus
Div.
(6 %)$30,000
$81,576
(6%) $30,000
$25,787
(6%) 30,000 def 15,063
$392,327
$372,650
393,701
FORT DODGE DES MOINES fit SOUTHERN
RR.—Own/*
Moines, la., to Fort Dodge, Boone, Ames and Rockwell City,
from Des
1284 m.:
miles.
1357,
Webster City, 25 miles; total, 1534
Originally a steam line but now electrically equipped.
V. 97. p.
1426, 1583; V. J06. p. 393.
also
extension
to Lehigh and
1916.
3
On
preferred
■.
1917.
6
7
DIVIDENDS—
On common
1918.
6
7*
Owing to delay lu getting the dividends approved by
ministration, the usual 14% dividends due Aug. and
1919.
5
7
7
7
the Railroad Ad¬
Nov. 1 1918 on
paid several
restored to
compensation for Federal use should be fixed.
BOND8.—Open mtge., V. 101, p. 1272, 1972.
Due serially on Dec. I,
$50,060 yearly, 1916 to 1937, both inclusive, and remainder in 1938, but
redeemable all or part on any Interest date at 105 and int.
Additional
bonds Issuable only for 80% of cost of additions, Ac., when annual net earn¬
ings are 14 times interest, including bonds proposed
V. 106. p. 395.
Government loan, V. 112, p. 1519.
EARNINGS.—Year ending Dec. 31
1920: Gross, $1,765,860: net, def.,
$30,471; Fed. comp,, $1,037,603; int. A rentals, $403,679;
747; bal., sur., $379,706.
Pres. A Gen. Mgr., O. H. Crooks; Sec., Treas. A Aud„
—(V. 112, p. 161, 1519.)
pref. div., $223,F. M. Johnston
Smith. Ark., to Guth¬
whloh Coal Creek, Okla., to Guthrie, 196 m, "s
FORT SMITH & WESTERN RR.—Operates Fort
rie, Okla,
216
miles, of
owned and Ft. Smith to Coal Creek.
20 m.. is Kansas City Southern track¬
In Oct. 1915 contracted for use of M. K. A T. tracks, Fallls to Okla¬
City, 30 miles.
V. 101, p. 1553.
Coal properties are developed
at MoCurtain, Okla., 40 m. west of Fort Smith, produotng an average of
30,000 tons per month.
Owns 51% of the capital stock of the St. Louis El
Reno A West. Ry., Guthrie to El Reno, Okla., 42 m.t oper independently
On Oct. 9 1915 Gen. Mgr. Arthur L. Mills was made receiver, but retired
on April 15 1921, being succeeded by Chas. T. O'Neal, of Washington, D. C.
V. 101, p. 1272.
Bonds deposited till July 1 1917, with a comm. consisting
of W. L. Brown, A. W. Mellon, Colgate Hoyfc, W. II. Conniff, W. G. Mather,
J. J. Sullivan, Geo. 8. Russell, James J. Hoyt, S. H. Tolles, C. C. Bolton,
and A. O. Dustin (Superior Savings A Trust Co. of Cleveland, the mtge
trustee, depositary), with power to sell or exchange the same, Ac.
V. 91
p. 1446; V. 92, p. 527.
In Oct. 1916 was ordered sold under foreclosure
salesetfor July 1 1921.
V. 103, p. 1592.
Released from Federal control. V. 106, p. 2757; V. 107, p. 1003.
Proposed improvements. V. 110, p. 1972.
Government loan, V. Ill, p. 2324.
8tock, $5,000,000. all outstanding; par $100.
For the 4s of 1904 ($7,500,000 auth.), Superior Sav. A Trust Co., trustee.
Car trusts outstanding
Dec. 3l 1920, $25,343.
Receivers certificates, 1920, $192,500.
Jan. 1 -Mar. 31
Jan. l-Dec. 31
age.
homa
EARNINGS—
1921.
1920.
1920.
1919.
$482,069
$454,658
$2,045,504
$1,646,460
def.34,825
def.22,172
21,523
200,458
ending Doc. 31 1920, gross, $2,045,504; net oper. income, $21,523; other income, $106,485: int. & rentals, $352,598: bal., def., $224,590.
Gross
Net after taxes
For year
^Pres., A. C. Dustin, Cleveland, O.—(V. 112, p. 562,1399,1519,1865.)
FORT STREET UNION DEPOT.—Owns passenger station with ap¬
proaches, 2.8 miles of main track; leased for 990 years from Dec. 10 1889 to
Wabash, Pere Marquette and Canadian Pacific for rental equal to 5% of
total cost of property and current expenses. Incorp. in Mich. Aug. 24 1889.
Stock, $1,000,000, of which Pere Marquette owns $515,800; par, $100.
Pres., F. H. Alfred, Detroit —(V. 100, p. 1832.)
FORT WAYNE & JACKSON RR.—Owns Jackson, Mich., to Fort Wayne
Ind., 98 miles.
On Aug. 24 1882 leased perpetually to Lake Shore A Michi¬
gan Southern (now New York Central
at a rental of $126,027, equal to
oH % on the pref. stock (see V. 66, p. 812), and after 1887 afiy net earning*
over 8% on pref. stock to be paid on com., but not exceeding 2% a year.
Common 6tock, $436,132.
V. 106, p. 601.
f
FORT WORTH & DENVER CITY RY.—Ft. Worth,
Owns securities of Ft. W. A Den. Term. Ry.
Tex., to Texllne
464 miles.
STOCK, Ac.—Colorado A South. Ry. Dec. 1919 owned all but $13,984
of the $9,375,000
capital stock, the latter including $6,835,008 common
V. 63. p. 1063, 75.
and $2,539,992 stamped stock.
A
A
do
New York Trust Co. N Y
FulOoN Bk,Glov'lle,NY
Farmers' L A Tr Co, N Y
text
<
See text
D Dec
1921-38
1
New York
1907 coup last
paid
A
Oot
A
Central Union TrCo, N Y
54
O Apr 1 1954
J Jan
1 1941
MAS Mar 1921
6 g
J
5 g
6
MAN May 1
MAN Nov 1
Oct
1
Q—J
4H g J
A
D Dec
Various
1
1935
2% Farmers' L A Tr Co, N v
Office, 32 Nassau St. N Y
1921
Fidelity Trust Co. Phlla
1925
1935
Jan
'21
int in default
1922
Owned by Sou Pac Co
So Pac Co 165 B'way.N Y
1931
MAN May 1
J
A
J July 1 1931
J
A
D June 1 1940
A
A
O Apr 1 1933
MAS Mch 1 1938
do
do
Columbia Trust Co, N Y
Bankers Trust Co. N Y
Compensation under Govt, contract, $1,891,386. V. 107, p. 2376.
Payments under stamped stock agreement of Oct. 12 1895; 2% In
1899,2%; 1902.2%; 1903 A 1904. 4%; 1906 to 1912, 4% each; 1913 to
6% each; 1917, 8%; 1918, 8%; 1919, 8%.
440.
1898;
1916,
Certfs. of Indebtedness
by Colo. Sou. Dec. 31 1919. $299,917.
Equipment trust, V. 82.
1101; V. 84, p. 508.
Ft. Worth A Denver Terminal Ry., $2,500,000
20-year 6% bonds (Bankers Trust Co., N. Y., trustee), subject to call at
105, of which $728,000 have been Issued, $300,000 sold and $428,000 held
by Ft. W. A D. C. Ry.
V. 86. p. 52. 1100. 1589; V. 87. p. 949.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Jan. 1-Mar. 31
Jan. 1 -Dec. 31
owned
p.
1921.
EARNINGS—
Gross
._
Net after taxes.,,,-
$2,743,235
575,906
1920.
1920.
1919.
$3,021,382 $13,143,676 $11,162,302
320,186
1,480,052
3,154,020
Dec. 31 1919 (V. Ill, p. 384) shows:
$1,891,386; other income, $128,952: int., rents, Ac..
$639,152; surplus, $676,325.
Calendar
Gross
Net (after
Other
Interest, Dividends Balance
Years—
Earnings.
Taxes).
Income. Rents.Ac.
(8%).
Surplus.
1919
$11,162,302 $3,135,900 $151,022 $1,019,576 $639,152 $1,628,193
1918—..
7,950,342
1,597,574
231,871
977.894 639,152
212,398
1917.-..,.
6,546,863
2,050,860
438,881
705,578 639.152 1,145.011
Pres., Hale Holden; Gen. Mgr., F. E. Clarity, Fort Worth, Tex.—
(V. 110, p. 970, 1289; V. Ill, p. 389.)
RESULTS.—For years ending
Standard
return,
divs..
QAINESVILLE MIDLAND RY.—Owns
Gainesville. Ga., to Athens. 42
gauge now
miles, standard gauge, and
Belmont to Monroe. 32 milts,
V. 79, D. 151
269. 500 627. Stock, al! out $550,000
standard.
.
Gordon C. Carson and W. B- Veazey
1920.
5
the preferred, and dividends of 14% on the. common, were
weeks late.
The common dividends, it was hoped, might be
7% per annum as soon as the
V. 107. p. 1579, 2187.
J
4 g
$704,661;
1919.
1920.^1,431,663
5 K
do
do
•
BONDS.—Abstract of mortgage, V. 45, p.
Go. of FultoD Co.
1910; July 10 1911. 2%; Aug
Pref. dividend paid regularly 6% per an.
DIVIDENDS.—On com., 2%, July 20
1912 and 1913. 2%; none since.
See
Q— F
Q—F
In 1920
325,000
5.728,000
13,418.000
2.539.000
9.022.000
2,122,000
1.106.000
1881
J July 1 1947
J
A
J July 1 1950
4X g MAN Nov 1 1952
5
J;
A
J July 1 1933
A
O Oct 1 1922
A
6
in 1920
mailed
New York Trust Co, N Y
do
do
29 1922
O Mar
A
Checks
do
4 g
616,000
1.000
1.000
71-'80
A
A
Where Interest and
Dividends are Payable
Marl5 *21 1
Q—M
4H g J
See text
1,000
100 Ac
1905
1913
74
256
8
350,000
2.500.000
1,363,100
5,450,000
6.246.000
1,000,000
2.291,416
8.176.000
100 Ac
1.000
1913
124
1937..
Eq tr Ser C $56,000 s-a red aft May'20 102«...FP
Gainesville Midland—First M $1,000,000 g red at 110
Notes $400,000 auth extended to Oct 1 1922
Galveston HarrisbASan Antonio—lstA2dM gl grext o*
Western Division 1st M (Mex & Pac ext) gold—s
do
do
2d M "stamped" guar p fit i..
Galveston-Victoria Div 1st M $10,000,000 auth—
Galveston Hous fit Hendofl882—lstM.g.ColyC&r*
Galveston Terminal—1st M $5,000,000gu (text).Ba.x
and highways.
Owns entire
5.150,000
50,000
100
14
6
200.000
500.000
800.000
1,000
1.000
1900
1902
1893
1892
75
Fort Smith & Western—1st M $7,500,000 gold_..xo*
Fort Street Union Depot—1st M gold
.Cex
Fort Wayne & Jackson—Preferred stock 5 H% rental
Ft Worth & Den City—1st M g $18,000pm Ba.zc*
line Gloversville to Johnstown
1.000
1897
26
500.000
100 Ac
1,000
1881
26
'13 2%
Aug 15
$2,500,000
100
Places
and Maturity
Payable
%
Dividend
Last
When
&Raie
Outstanding
$100
auth
1st Consolidated mortgage 1200,000 (extended), .zc
First oonsol refunding mtge $500,000 gold.N.xo
General refund mtge $800,000 (V 71. p 34) -N.xo
First .Cons Gen Ref M $7,000,000 g red 120. N.xo* &r
Johnstown G & KIngsboro 1st M assum ext 1913. _z
Cayadutta Elec 1st M guar p & 1 by F J & G gold.Nz
Fort Dodge Des M & So—Common stock....
...
Pref stock 6% cum call at 105 $1,000,000
1st M g red 105 $50,000 due serially Dec 1 to
Amount\:
Par
Date
Rood
RAILROAD
COMPANIES
[For abbreviations,
1918-
[Vol. 112.
EAILWAY STOCKS AND BONDS
56
ceivers In Feb.
1921.
of Gainesville were
appointed re¬
V. 112, p. 849.
auth.). $661.000 has been sold and $14,'KH> Is reserved to retire old 6s; $26,000 treasury bonds and $192,000 issued
to cover broadening gauge of 32 miles are pledged to secure an issue of
$400,000 3-year 0% coupon notes of 1913.
These notes also have as addi¬
tional security the following.pledged by individual owners: $645,000 1st M.
bonds (1905 Issue). $514,000 out of $550,000 cap. stock
Of these notes,
$325,000 are Series A. having a prior lien on the collateral and $75,000 Series
8. $250,000 of Series A have been issued and installments paid thereon to
the extent of $213,285; Series B is all out.
The 8eries A and B coupon
notes of 1913 were extended to Oct. 1 1919 and again to Oct. 1 1922.
Jan,
Of the 1st 5s of 1905 ($1,000.000
1921
interest in default.
Co. is mtge. trustee
V. 81, p. 1375, 1550.
Compensation.—$22,731 yearly during Federal control.—(V.
The Chatham Bk. & Tr.
Federal
p.
112,
849, 1024, 1865.)
RY.—(See MapSouthem
east bank of Rio Grande
River, 825 miles; Beeville to Damon, 167 miles; San Antonio to Port
Lavaca, 136 miles; branches, 235 miles; owns jointly 2 miles; trackage, Ac.,
17 m.; total, 1,382 m.
Southern Pacific Co. owns $27,062,400 of the $27,084,400 stock (par $100). V. 79, p. 2042; V. 81, p. 211, 668, 1242; Y. 83,
GALVESTON HARRISBURG& SAN ANTONIO
Pacific.)—Owns Galveston, via Houston, Tex., to
p.
1528.
Annual compensation under Federal contract, $3,230,645.
BONDS.—See V. 92, p. 1630: V. 94, p. 130; V. 96. p.
V. 108, p. 974!
1772. V. 107,
§. 1482. Pacific Co. of payment of principal and interest asareduced from
guaranty by
outhern Western Divs. 2ds $2,539,000 are "stamped" with
1915. V. 100. p. 397. Equip, boqds, $1,558,000 6s,
Pacific. V. 76, p. 1300; V. 77, p. 2160.
The Sou. Pac.
$444,000 out of a total of $2,539,000 Mex, A Pac. ext. 2d M. 5s
and all of the $4,728,000 G. H. A S. A. East Div. 1st 6s (ext.), due Aug. 1
1935, $1,000,000 2nd M. 6s. and $9,022,000 Gal. Victoria Div. 6s.
6% to 5% from Jan. 1
owned by Southern
Co.
owns
Jan. 1 -Mar. 31
Jan. l-Dec. 31
1921.
1920.
1920.
1919.
$7,044,220
$5,875,482 $26,543,746 $21,957,495
Net after taxes
1,148,437
194,147
2,329,795
4,350.598
In 1919, standard return, $3,230,644; other income, $545,771; deductions
$3,271,990; net income, $504,425.
^
LATEST
EARNINGS—
Gross
In
1918, standard return;
Ac., chgs.,
Yr.—
$3,230,645; other income, $367,089; interest,
1918, $493,715; bal.sur., $170,431.
Interest.
Miscel.
Surplus.
$552,867 $2,812,844 $1,420,531 $3,200,841
810,905 1,776,330 2,359,906 df.412,844
1.453,907 884,700 (V. 103, p. 1210; V. 107. p. 603.)
$2,933,588; exps., Ac., prior to
Gross.
Net.
Oth. Inc.
$19,737,996 $6,881,348
1915-16 12,831,389
2,912,587
917
1914-15
li:212;i41
V. 108, p.
2122.
OALVESTON HOUSTON & HENDERSON RR. OF 1882.—Owns from
Galveston. Tex., to Houston, Tex.. 50 miles.
See V. 61. p. 1013.)
ORGANIZATION.—The M. K. & T. and International & Great Northern
have had trackage rights since Deo. 1895 under a contract providing for pay¬
ment to Central Trust Co., as mtge. trustee, of $100,000 yearly to meet inter¬
est on G. H. A H. bonds and an additional rental of $24,000 per ann. for
dividends or other purposes.—See V. 61, P. 1064; V. 63, p. 697; divi. May
1904 to 1906, 4% yearly; none since.
M. K. & T. owns 4,999 shares of
stock.
Of the 1st gold 5s ($5,000,000 authorized issue), $1,000,000 is re¬
served for not over 90% of cost of new equipment.
Redeemable at 105
on any interest day.
V. 98, p. 839; V. 102, p. 1987.
Stock, $1,000,000: par, $100.
For cal. year 1917, gross
agst.
$350,715, and net, after taxes, $71,134, against $23,818.
contract,
signed in Jan. 1920, fixes ann. compensation at $127,366.—(V.
p.
$434,740,
Federal
110»
464.)
RY.—Owns extensive terminals at Galveston,
Valley Ry., Colorado Southern and Chio.
R. I. & Pacific, which own practically all the stock.
V. 87, p. 950. Owns
a large freight depot and warehouse and about 14 blocks along Galveston
water-front.
Operates 49 miles of main line and 20.33 miles of sidings.
Stock, $25,000.
Of the 1st 6s ($5,000,000 authorized issue), 51,106.000
guar, jointly by the Ch. R. I. A P. and Col. A Sou.
V. 86,p. 1100, 1589;
V. 87, p. 1478: V. 103, p. 2428, 1980.
Pres.. J- A. Hulen, Houston^ Tex.;
V.-P., Chas. Fowler; Sec. A Treas., E. R. Cheesborough. both of Galveson, Tex.—(V. 100, p. 2085.)
GALVESTON TERMINAL
Tex., used by Trinity & Brazos
Mat, 1921.]
RAILWAY
RAILROAD COMPANIES
[For abbreviations,
&c.,
see
(wharf
A railroad)
gold 5s
BONDS
57
Miles
Date
Par
Amount
Rats
When
Road
notes on page 6]
Bonds
Value
Outstanding
%
Payable
Galveston Wharf Co—1st (r e) U gold s 1
zc*
First series (wharf A railroad) gold 5s sink fund.zc*
Second series
STOCKS AND
s
f
1882
16
8enesee & Wyoming Southern—See N Y Central RR
Corning <5c RR—1st M gold $500.000—Col
$ 1.000
1890
1901
zc*
1,000
1,000
1,000
1899
'•
Last Dividend
J
A
i8
5 g
A
A
A
A
A
A
5 g
8
A
A
J
c
See
J
5
Columbia Trust Co, N Y
O Apr
Hanover Nat Bk, N Y
do
1 1955
&
See text
1930
1924
Fidelity! Trust Co, Ilalt
J P Morgan & Co, N*Y
July 1 1954
1 1946
Bankers' Trust Co. N y
J P Morgan A Co, N Y
g
J
6 g
J
A.J
3 g
A
A
O Apr
Q-J
Apr 16 1921 3% Augusta, Ga
5
J
A
J Jan
6
J
A
J Jan
1 1922
4
J
A
J Jan
1 1947
1 1922
5 In 1920 MAN Nov 8
AN Nov 8
5 In 1920 M
5 g
J
A
4 g
J
do
J July 1
D Dec 1
A
See text
Nat City Bk. N Y, or Gal
do
do
Jan 31 1924
N Nov 1 1956
A Feb 1 1932
M'A"
58
text F
A
6
July 1 1932
1 1940
Aug 1 1926
O Apr 1 1929
ianeva
i
Places Where Interest and
Dividends are Payable
Maturity.
O Apr
F
5 z
$489,000
1.363,000
907,000
486.000
Georgia & Alabama—Georgia Carolina & Northern— See Se aboard Air Line
Ry.
Georgia & Fla—Common stock $15,000 per mile
100
5,250,000
Pref stock non-cum partic. $10,000 per mile
100
3,500,000
Milieu A South 1st M
Colx
53
1905
1,000
212,000
Receivers' certificates
1921
1,600,000
Georgia A Florida mtge $12,000,000 gold
axo*
2 84
1907
600 Ac
5.600.000
Gen M g (cum Idc lor 10 yrs) red par...
FBa.xc*
1912
*600 Ac
2.000,000
Georgia A Florida Term M $200,000 guaranteed...!
"2 1910
1.000
200.000
Augusta Southern 1st consolmtge gold
Ce.xc
8 2H
1894
1,000
400,000
Georgia Florida & Alabama—First mtge gold ..Ba.o* Text
1904
1.000
2,113,000
Georgia Midland Ry—First M gold $1.650,000lntgu.x
98 1896
1.000
1.650.000
Georgia Pacific—See Southern Ry
Georgia Railroad & Banking Co—Stock
307
100
4,200, 000
Bonds refunding not mortgage currency
zo*
*87-'07
1,000
1.200, 000
Bonds not mortgage
z
1882
1,000
300, 000
Bonds not mortgage ourrenoy (V 87. p 226. 285).zc
1907
1.000
1.000, 000
Qeorgia Southern & Florida—Common stock
100
2.000, 000
First pref stock 5% A partic non-cum red
100
684, 000
Second pref 6% A partic non-cum $1,084.000
100
1.084, 000
First mortgage gold $4,000,000
MeBa.xc*
285
1895
1,000
4.000, 000
First consol mortgage $10,000,000 gold
N.xo*Ar
1902
391
1,000
2,000, 000
Equipment trust Ser. D due $21,000 s-a
Bax
1912
1.000
63, 000
do
do
8er E due $22M or $23M s-a g..c
1915
1,000
203, 000
Qeorgia Southw & Oulf—Albany A Nor 1st M g„_c
36 1896
1.000
400, 000
G 8 W & Gulf mtge
Ce
36
1909
100
155, 500
QettysbA Harrisb—Con(nowlst)M$565.000g(text).x
42
1891
1,000
565, 000
Gila Valley Globe & Northern—See Arizona Easte rn RR
Goshen & Deckertown—1st A 2d M ($60,000 are 2ds)
12
1888
500 Ac
246,500
Gouverneur & Oswegatchie—8ee N Y O & H R RR
Grand Rapids & Indiana Ry—Stock $6,000,000
100
5.791.700
First M mostly land grant g extended In 1899_..zo*
367
1869
1,000
918.000
First M extended gold guaranteed by Penn RR.zc*
367 1869
1,000
4,455,000
Second mortgage $5,000,000 gold
:
xo*
419
1896
1.000
5.000.000
Muskegon Grand Rapids A Ind—First M g
Ce.x
37 1886
1,000
534,000
Traverse City RR—First mortgage gold...
z
27
1883
1,000
198,000
and
A
'20
*20
Am
Ex
Am
Exch
Nat
Bk, or Aug
do
2H M T
2^
do
Nat
A D Co.
do
Bk. N
Y
Bait; ANY
do
J July 1 1945
do
do
do
J July 1 1952
do
A Aug '21-Aug '22 Bankers Trust Co, N
&
4H g F
Y
4H g M &N16 Nov'21-Nov '25 Richm'd.Va.Old Dom Tr
N Y A Baltimore
J
A
J Jan 1 1946
5g
Co's office, Albany, Ga
J
A
J Jan 1 1959
A
A
O Oct
1 1926
Reading Terminal, Phila
S
e
3 H g J
4H g J
Apr 25 1910 1H Office Grand Rap, Mich
J July 1 1941
Wlnslow.Lanier&Co.N Y
do
J July 1 1941
do
O Oot 1 1936
Philadelphia, Pa
J July 1 1926
Winslow, Lanier A Go
J Jan 1 1933
Winslow, Lanier A Go
A
A
4 g
A
A
§g
3
_
J
A
J
A
g
N Bk Or Co. Goshen, N Y
1928
Various
■
GALVESTON WHARF CO.—Owns wharf properties extending from 10th
to 41st Sts., Galveston, Tex., and 12.8 miles
main line switching tracks In
city, with yard tracks and sidings.
Incorporated In Texas Feb. 24 1854
Stock outstanding at last advices, $2,626,600;
par, $100. "Dividends in
1904, ZX%; 1905, 4H%; 1906 to 1908, 5% yearly: 1909. 4*4%: 1910 to
1913, 5H%; 1914, 5K%; 1915. 4H%\ 1916, 4%; 1917. 4*4%: 1918, 3%;
Compensation under Govt, contract. $526,069.
V. 108. p
170
Pres., John Sealy; Sec., Treas. & Gen. Mgr.. J. J. Davis.
Office, Galves¬
ton, Tex.—(V. 107. p. 1195; V. 108, p. 170.)
GAULEY & EASTERN RY.—V. 106, p. 2228; V. 108,
p. 1165.
1917, 10%. 2% Q.-F. with a special div. of 2% paid in Aug. 1918; Feb. A
May, 2% quar.; Nov., 4%; Feb. 1919 to Nov. 1920, paid 2^% quar. Year
ended Dec. 31 1920, gross, $499,124: net after taxes,
$226,370; int. and
rentals, $134,821; divs.,(10%), $50,000; bal., sur., $46,174.
Pres., M. B.
Fuller, Scranton, Pa.; V.-P. & Gen. Mgr., H. C. Finch, Retsof, N. Y.;
Sec. & Treas., W. H. Barnard, 2 Rector St., N. Y.—(V.
76, p. 1248.)
GEORGIA COAST & PIEDMONT RR.-—This road has been dismantled
See "Ry. & Industrial" Section for Nov. 1920.
GEORGIA FLORIDA & ALABAMA RY.—Owns Richland. Ga., to
Tallahassee, Fla., 131.22 miles, Including 26 miles opened Sept. 1909: Talla¬
hassee to Carrabelle, on the Gulf of Mexico. 49.68 miles;
branch, Havana.
Fla., to Qulncy. 11.23 miles; total, 192.13 miles.
Also operates steamer
line from Carabelle to Appalachicola. Fla.. 32 miles.
Stock. $450,000;
par $100.
Pres., Cora B. Williams; Sec.-Treas., L. G. Papy, Bainbridge,
Ga.; Gen. Mgr., R. B. Coleman, Bainbridge, Ga.—(V. 88, p. 1437; V.
100, p. 1672.)
GEORGIA & FLORIDA RY.—Owns from Madison, Fla., to Augusta,
Ga., 250 m.; branches, 153 m.; total, 406 miles.
Owns stock of Georgia
& Florida Term. Co. of Augusta and Valdosta and
guarantees its 1st 6s.
A consolidation in Aug. 1907. V. 82,
p. 1211; V. 85, p. 345; V. 87, p. 480,
936,1533; V. 88, p. 681.
On March 27 1915 receivers were appointed, the
receivers in Nov. 1920 being W. R. Sullivan of N. Y.,
Langbourne M. Will¬
In Oct. 1919 purchased Apgusta Southern RR., all
operations being merged from Jan. 1 1920.
Sale of road was ordered in
by court order. V. 110, p. 464. Govt, loan re¬
quested to continue operations. V. Ill, p. 2228; V. 112, p. 257.
Compensation for Gove, operation under additional Feaeral control,
$88,000 p. a.; Augusta So. RR., $28,000 additional.
Y. 108. p. 78.
In March 1917 $500,000 receivers' certificates were authorized, and with
the proceeds of $250,000 purchased $296,000 of the $400,000 common
stock and $296,000 of the $350,000 preferred stock of the
Augusta Southern
RR. V. 104, p. 1045, 1145.
Of the $1,600,000 receivers' certificates auth¬
orized in Feb. 1921, $800,000 were pledged with the Govt, for a loan of
that sum at 8% and the rest of the issue was
disposed of at par.
Proceeds
were used as follows: payment of certificates
already outstanding, $728,000;
revision of line, $400,000;
payment in certificated debt, $200,000; working
capital, $272,000.—(V. 112, p. 652, 849.
Protective Committee for 1st M. 6s of 1907; Franklin Q. Brown, 33 Pirn
St.. N. Y., aDd others.
Depositaries, Baltimore Tr. Co., Central Tr Co
of N. Y. and Richmond (Va.) Tr. & S. Bk.
V. 102, p. 712.
In July 1919
the Richmond (Va.) Trust Co. was made trustee under 1st M. of 1907In. March 1918 John F. Lewis, Pres. of the Citizens Bank of Valdosta,
Ga., and E. B. Lewis, of Montezuma, having purchased the large Interest
in the property neld by the Baltimore Trust Co., succeeded 8. C. Rowland.and D. H. Gordon on bondholders' committee. V. 106, p. 1344, 1461.
Feb. 1920, but was revoked
BONDS.—Of
bonds
of
1907,
$5,600,000 are in bands of public and
$630,000 in treasury.
V. 85, p. 221, 530; V. 95. p. 1472.
Holders of 1st
M. bonds were asked to fund their coupons for 3 years from Nov. 1913;
about 82% agreed.
V. 98, p. 155. V. 97, p. 1024 1504, V. 104, p. 2452.
Gen. mtge. bonds, see V. 94, p. 630, 826. 911, 1118; V. 104.
p. 2452.
,
—Jan.
EARNINGS—
1921.
Gross
Net
after
1-March
$341,963
defG5,485
taxes
31—
—Jan.
1920.
1 -Dec.
1920.
$332.604
$1\528,672
def .235,413
def.826,043
31—
1919.
$998,345
def.447,067
REPORT.—For year ending Dec. 31 1918, gross, $1,021 .*43; net def.,
$27,618; other income, $142,065; int. on bonds, $620,116; taxes, rentals,
Ac., $211,874; bal., def., $717,542.
In 1917, gross, $904,883; bal., surp.,
$35,695.—(V. 112, p. 257, 652, 849, 2190.)
GEORGIA MIDLAND RY.—Owns road from Columbus to McDonough,
Ga.. 98 miles.
Leased from July 1 1896 for 99 years to the Southern Failway
Ac.)
Co. for $49,500 annual rental (being Interest
and
owned by
$2,500
for
Columbus
on
the first mtge. bonds,
terminal
Southern Railway Co.—(V.
property.
Stock is $1,000,000,
63. p. 361; V. 82, p. 751.)
GEORGIA RR. & BANKING CO.—Georgia R. R. Augusta, to Atlanta,
171 m.; branches to Washington and Athens, 58
m.; Macon A Augusta
RR. (proprietary road). Camak, Ga., to Macon, Ga., 74 m.; trackage, 4 m.
total, 307 m.
Owns 50% stock of Western Ry. of Ala.
Lease.—In 1881 road leased for 99 years to W. M. Wadley et al for the
Cent, of Ga. and the Louisv.
A
Nashv., at $600,000 D£r
but In Apri)
1899 the Louisv. A Nashv. was held to have acquired all rights under the
lease; Atlantic Coast Co. 1899 acquired half interest.
V. 68, p. 722.
Owns
majority ($992,400) stock "Ga RR. Bank."
In Mar. 1920 announced that the
year,
Georgia RR., the Atlanta & West Point
RR. and the Western Ry. of Alabama would in future be operated in close
organization rather than independently.
The three properties will be
directed as to operation from Alabama.
Equipment trusts issued to Director-General for rolling stock allocated
to this.; company.
See article on page 3.
\'83-'87.
Regular since 1881
use
of Georgia RR., $858,662.
'88.
%/10 yrly.
*89 to Jan.'11.
1054
11 yearly.
1917, 1%; Jan.
Extra (from bank earnings), Jan.
Since to Apr. 1921.
12% yearly.
1920,, 1%;
REPORT for year ended March 31 1921: Gross Income, $639,696; divs.
(13%) $504,000; interest, $118,000; bal. sur. $17,696; total profit and loss
surplus,
$1,978,303.
Pres.,
Jacob Phinizy, Augusta, Ga.—(V.
110,
p. 970, 1289.) H
GEORGIA SOUTHERN & FLORIDA RY.—(See Map of Southern Ry.,—
Macon, Ga., to Palatka, Fla., 285 miles; on Nov. 1 1902 pur¬
Atl. V. A W. Ry.. Valdosta, Ga., to Jacksonville, Fla., 106 miles}
trackage, 11 m.; total, 402 m.
V. 60, p. 928; V. 79, p. 551.
Also owns
one-eighth of stock of Jacksonville Term. Co. and 1-3 of stock Macon Term.
Owns the stock of the Hawkinsville A Florida Southern Ry., Worth to
Hawkinsville, Ga., 43 milt*. and Ashbura to Camilla, Ga., 50 miles, $606,.
000,1st M. 5% bonds being guar., p. & I. V. 79, p. 2585; V. 97, p. 175, 365.
Owns from
GENESEE & WYOMING RR.—Retsof, N. Y., to Pittsburgh A Lehlgb
Jet., 11 miles: Retsof Jet. to Griegvllle, 4 m.; branch, 2 m.; total, 16 miles.
Stock, $500,000; par, $100.
Dividends since 1909: Aug. 1910, 1 H%\
Nov.. 1 H%: 1911, 5%, paid 1 H% Q.-J.; 1912and 1913, 5% (Q.-F;): 1914.
Feb. and May, 1X%: Aug. 1914 to Aug.
1916,1H % quar.: Nov. 1916,2%.
iams and J. F. Lewis.
Compensation under Federal control for
DIVIDENDS.—
chased
DIVID.
on
/1892. 1898.
1st A 2nd pref. (%)i
2
1899.
1906.1907 to Nov 1920
1900-05.
3
4 yearly
3
.
5 yearly
4 H
BONDS.—First mtge. of 1895 (Abstract. V. 61. p. 429) provides that the
$684.000/Irsf pref. stock shall be
lien second only to the bonds and coupons.
a
The First Consol. 4s of 1902 are for the authorized amount of $10,00(),000
of which $4,684,000 are issuable to retire the $4,000,000 5s and $684,000 1st
pref. stock and $3,316,000
reserved for future needs.
are
V. 75, p. 980.
STANDARD RETURN as certified by I.-S. C. Commission, $511,457
Contract not Executed.
V. 109. p. 1790.
—Jan.
EARNINGS—
$1,174,388
Net after
—Jan. 1 -Dec. 31— 33
1920.
1919.~*
1-March 31—
1920.
1921.
Gross.
taxes
_def220,599
$5,330,810
$4,374,501
def.214,681
$1,444,304
141,923
63,053
REPORT.—Year ending
Oross
Dec. 31 1919:
Oper.
Total
Interest,
Pref.
Balance
Years—
Earnings.
Income.
Income.
&c.
Divs.
Surplus.
1919
$82,684
$4,374,501 $252,577*$524,703 $353,619 $88,400
1918
3,694,801
272,913* 522,128
349,568
88,400
84,160
1917
2,983,428
452,359
746,929
388,589
88.400
269,940
*
Certified standard return, $511,457, plus other income.
Pres., Fairfax Harrison, Washington, D. C.—(V. Ill, p. 1182).M
Dec. 31.
GEORGIA SOUTHWESTERN & GULF RR. (Albany"feHWhern
Ry.).— Projected to extend from Albany, Ga.. southwest to St. Andrews.
Fla., on the Gulf of Mexico.
In Feb. 1910 acquired the entire capital stock
of the Albany & Northern Ry., Albany to Cordele, 35 miles; trackage rights.
0.73 miles. V. 90. p. 109, 502.
G. S. W. & G. stock auth.. $4,000,000; issu¬
able at $20,000 per mile; outstanding, $40,500.
The $4,000,009 mortgage
Is secured
by pledge of $350,000 capital stock of Albany & Nor, Ry.,
Ac.; bonds issuable at $20,000 p. m.
In Sept. 1919 interest charges were
being paid "as fast as coupons are presented. '
Total coupons unpaid Dec.
31 1919, $32,157.
For year end. Dec. 31 1920; Gross, $200,703; net, $71.653; other inc., $5,571; charges, $42,934; bal..sur., $34,290.
Pres. and
Gen. Mgr., W. M. Legg, Albany. Ga.; V.-P., Sec.-Treas., II. J. Bruton,
Bainbridge, Ga.; Aud., I. C. Johnson, Albany, Ga.—(V. 90, p. 502.)
GETTYSBURG & HARRISBURG RY.—Carlisle to Gettysburg, Pa.,31.21
branch to Round Top, Pa., 2.93m.; branch Pine Grove Furnace to Hun¬
ter's Bun, 7.46 m. The Reading Co. owns $574,500 of the $600,000 capital
m.;
stock; $535,000 deposited under its
gen. mtge. of 1896.
V. 95, p. 1039. For
1920: Gross, $461,780; net after taxes, $105,056; other income,
$10,380; deductions, $72,879; bal., sur., $42,557.
For 1919: Gross, $346,696; net after taxes, $42,864.
cal. year
"grand
Owns
raVids A~INDTaTa" K
from
110 m.; total
R. R., 86 m.
Grand
Fort
V.—
(aps"uj "jRennsylvaniu
RR
t—
Wayne, Ind., to Mackinaw City, 367 m.; branches,
owned, 477 miles; operates Cin. Richmond & Ft.'Wayne
On May 1 1917 purchased the property of the Muskegon
Rapids & Indiana RR. and Traverse City RR.; trackage, all lines,
8 miles.
See V. 106, p. 2644; V. 76, p. 811; V. 82. p.
Aug. 1896 of RR. Co. foreclosed (V. 63, p. 163.)
The stockholders on Dee. 22 1920, approved the
Successor
988, 1098.
***
,
lease of the road and
properties to the Pennsylvania RR. effective Jan. 1 19*21.
The lease is
for a term of 999 years and upon the general basis of paying a rental suffi¬
cient to cover fixed charges and a dividend of 4 % on the stock.
'"4m
The Pennsylvania Co. offered to purchase the minority stock, giving in
payment par for par second mtge. 4% bonds of the Grand Rapids & Indiana
Ry.
V. Ill, p. 1949; V. 112,
Federal
p.
61, 927.
Federal control.
Compensation.—$929,385 yearly during
STOCK.—Stock,
$3,378,600.
$5,791,700 out.
Penn. Co. on
Dec. 31
DIV'S.—1900. 1%; 1901. 2%; 1902 to April 1910.3% (ylyi:
1919 owned
none since
BONDS.—The first mtge. bonds extended at 4H% Are endorsed with the
guaranty of the Penn. RR. Co. to purchase the coupons as they mature, and
the bond itself at maturity.
Of the 2nds, $350,000
and
$4,375,000
were
were
owned
See guaranty, V. 56, p. 649; V. 69, p. 1193.
owned Dec. 31 1919 by Pennsylvania RR.
Dec. 31 1919 bv the PennsylvaniaCompani/
on
which cwnpany guarantees prin. & int. on
—Jan.
EARNINGS—
Gross.
Net after taxes
1921.
.$2,031,659
def.160,197
31—
1920.
$2,284,579
23,650
REPORT.—For 1919. in V. Ill, p. 895:
Cross
Net
Federal
Calendar
$1,038,000 2d M. bonds.
1-March
—Jan.
1 -Dec.
1920.
„0
$9,797,701
def.248,403
P*
Other
i
31—
1919.^1
$8,238,636
577,722
*
f Deduo
Net
Hons.
"Income.
Revenue.
Compen'n. Income.
$763,566 £$251,234
$897,120
$929,385
$85,415
656,825
1918
300,470
732,782
929,385
27,910
Pres., J. J. Turner, Pittsburgh, Pa.; Treas.. J. II. B. McKnight, Pittsburgh, Pa.—(V. Ill, p. 895,11752,^1949; V. 112, p. 61, 469.)
Year—
1919
Revenues.
$8,238,636
7,207,727
MAY, 1921.]
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations, &c.,
Miles
tfrand Trunk Pac—First M £ guar Can Govt (text)oAr
Prairie Section M (Ser A) £2,100,000] guar p and 1
Mountain Sec M (Ser B) £2,050,000)
Lake Superior DIv 1st M £1,550,000)
by Grand
Trunk
Sterling bonds guar by Can Govt $15.940,800.c*&;r*
Deb stk $50,000,000 red aft 1936.
Int gubyOT
Date
Par
Amount
Rate
When
Last
Dividend
Road
notes on page 6]
see
Bonds
Value
Outstanding
%
Payable
and
Maturity
$ & £
$68,040,000
£100 Ac
10.206.000
3
A
Jan
4
A
£100
4
1.755
916
839
1905
188
1905
1914
Grand Trk Pac Br Lines 1st M gu by Alb text__c*
do
do
1st M gu by Alb £238,600
do
do
guar by Saskatchewan (see text)
do
Terminals guar by Sask text
do
Bridges auth $1,300,000 guar by Sask
IA4
—■
—
S:1
Perpetual consol debenture stock (coll trust) cum
2d equip M extended (subject to 1st M In trust)i-oj
Great Western perpetual debenture stock
c
.
Northern Ry third preference A A B bonds..
Debenture stock 4% perpetual £425,850
Canada Atlantic consol (now 1st) Mggup&l
_c\
J
f
bonds
at 102 H
Three-year secured
'1917"
1918
1909
58
1909
1914
$ & £
£100
£100
&c
£100
1884
3.512 f 1874
(1884
11869
836 H
490 H
A
Jan
A
4
A
Perpetual
Apr. 11919
July 1 1923
A
A
4
M
A
6
J
6
J
5
1,881,792
12
1939
/1868
& J
£200
1874
1920
1,000
F
A
A
A
Co's
Office
do
do
do
do
A
do
\
A
Glyn, Mills. Currle A Co
O Irredeemable
A Irredeemable
J July 1 1921
London
A
3 Jan-
A
3 SeeV.110.p.77.
A
A
7 g
&c
£1.000,000
4 g
3
Ac
6 g
A
1901
Montreal Warehousing 1st M $1 000,000 gold guar.
1906
£3,000,000
210.000
1,000,000
GRAND
from
do
A Irredeemable
£100
£
Check
Irredeemable
&
£100
1.000
do
do
14 Irredeemable
Q—J
1918
or
guarantor
do
do
paid.
1914 2)4
J
1918
$
by
do
See text
Nov '17 to '20
5
25,000,000
paid
do
£14,500
F
4
£308.215
J
4 g
16.000,092
£55,900 var, say4 J
11884
100,
1919
18 1943
6
c*
(V 107. p 1287)
demand
demand
A.pr
c*
secured notes
New England
J On
none
Elev 1st M g gu due $10,000 yearly..
Three-year
J On
&
MAN
J
unpaid
N Y Montreal A London
do
do
&
text MAN
5
coup
demand
Dec
4
Payable
are
London. Montreal A N Y
Sept '19 not pd when due
MAN Feb 15 1942
MAN Jan. 22 1939
MAN 1943
1,159,596
11,315,052
Whept Interest and
Dividends
April 1 1920
N On
MAN Feb 25
2.430,000
Places
Bank of Mont, Lon A NY
6
Var
1905
4
£100 £3,420.1 >00
£100 £2.530.000
£100 £7,168,055
£100 £4.270,375
£100 £24.624.455
£100
£372.900
£100 £2,723.080
3.512
A
Apr
Apr
Apr
4
V105.P 1415
f23,955,437
£100 Jtl2.500.000 See
'73-'74
'73-'74
396
£1,000.000 red 101
$100
1914
See V. 108. p. 170
$25,000,000 call aft Oct '35
Ce.c*__
notes
Ac
1 1962
1 1955
I 1955
1 1955
1 1962
4
9.963,000
7.533,000
15.940.800
34,879.252
10,000,000
15,000.000
6,000.000
7,081,783
5.038,053
7,500,000
Ao
£100
1913
Wellington Grey A Bruce 1st 7s.
s
Ac
£100
1909
_
Or and Trunk Ry—Consolidated stock
4% guaranteed stocic non-cumuiatlve £12.500,000.
First preference 5% stock £3,420,000 non-cum
Second preference stock £2,530.000 non-cum
Third preference 4% stock £7,168.055 non-cum._
Debenture stock £4,270,575
1905
1905
.
Gov't Loan $10,000,000 sec. on Prairie section do
Gov't Loan $15,000,000 cov. by deb. gu by G. T._
Dominion Government loan
do
$8,000,000 sec by mtge V 103, p 406
do
$4,500,000 (V 105, p. 1617, 999, 818, 497)
do
$7,500,000 (V 106. p 2559)
Debenture
59
4
A
A
.
Mont, N Y A London
Oct 1 1940
Jan 14 1921
Oct
1 1921
A 3
A
3H t 3
1 1955
July 1921-1941
Apr 1 1936
A
London
New
York
London. England
April 1921 int. defaulted
UnSD&TrCo, Portl'd.M
Blair A Co., New York
TRUNK PACIFIC RY.—(See Maps.)—'This new crans-conti
nental railway was built with the joint financial
support of the Govern¬
ment and the Grand Trunk Ry. of Canada under
special Act passed by the
Canadian Parliament in 1903 and 1914.
The several lines have a combined
OFFICERS.—Pres., Howard G. Kelley, Montreal. Can.; Sec., Henry
Philips; Treas., Frank Scott.—V. 112, p. 61, 1024, 1282.)
■
length of about 1,750 miles, from
Winnipeg to Prince Rupert, B. C., on
Pacific Ocean, 30 miles south of Alaska line, with branches,
1,180 miles;
total. 2.930 miles, viz.:
1
Western Division, Built, Owned and Operated by
Company—
a. Prairie Section, Winnipeg to Rocky
Mountains, about
914
ft. Mountain Division, Rocky Mountains to Pacific
Ocean, about.
883
2. Sundry Branch Lines—Built by co. and its subsidiaries
about
992
3. Lake Superior Branch, Built and Owned by Co.; Leased A
Oper. by Oovt.—
Thunder Bay on Lake Superior to East. Dlv., east of
Winnipeg
189
4. Eastern Division, Built and Operated by Canadian Government—
Moncton. N. B.. via Quebec to Winnipeg
1,804
In 1918 the rails on 106 miles of the roaa In British Columbia were re¬
Montreal to Chicago,
GRAND
Canadian Parliament in 1903.
V. 80.
P. 996;
V. 81, p. 1315.
As to Grand Trunk Pacific Branch Lines Co., see
V. 90. p. 1044 (also bonds below): V.
82, p. 333; V. 88, p. 295, 822. 1372
1437; V. 107. p. 82; V. 110, p. 561.
On
March
4
1919
notice
given that owing to the lack of funds
the Grand Trunk Pacific Ry. was unable to continue
operations.
Ac¬
cordingly, under the provision of the War Measure Act, an order was
passed in Council on March 6 1919, placing the Grand Trunk Pacific Ry. in
the hands of Hon. J. D. Reid, Minister of
Railways, as receiver.
V. 108,
1060, 1274, 2118.
p.
INTEREST PAYMENTS.—The interest due April 1 1920 on Series A
Prairie Section, Secies B Mountain Section, and Lake Superior Branch
4%
bonds was not paid.
V. 112, p. 1617, 1740,1865.
In March 1919 the Grand Trunk Ry. Co.
paid the interest due March 1
on this
company's debenture stock, but the principal of the $10,000,000 4%
loan from the Dominion Govt., guaranteed by the Grand Trunk
Ry., due
April 1 1919 remained unpaid.
V. 108. p. 151, 1917.
The Sept. 1 1919 interest due on the
4% debenture stock was not paid at
maturity.
V. 109, p. 1272.
i
STOCK.—Authorized, $45,000,000 (par of shares, $100 each), of which
the $25,000,000 common Is owned by the Grand Trunk Ry.
BONDS, &c.—For full debt statement In 1917 see V. 105, p. 1415.'
The
Canadian
Government agreed
to guarantee 3%
1st mortgage
bonds for an amount up to 75% of the cost of construction of the Western
division, such amount
(a)
in the
case
of the
Prairie Section not to exoeed
$13,000 per mile, or £3,210.000 In all; and (5) three-quarters of total oost
per mile from the mountains to Pacific Coast, called Mountain Section.
Total Issue. £14.000,000; Royal Trust Co..
Canada, trustee
V
80. p,
996, 1234, 1363; V. 81. p. 507, 613; V. 89. p. 224, 286: V. 91, p 214. 276.
Decision as to guaranty by Gov't. V. 93, o. 1386 1462; V 95. p. 1607
In 1914 Canadian Govt, guaranteed £3,280,000
4% bonds due Jan. 1 1962
V. 101. p. 1628; V. 98, p. 1766, 1920; V. 99,
p. 342, 674; V. 100. p. 642.
Series "A" (Prairie Sec.) and Ser. "B" (Mtn.
Sec.) 4% bonds secured by
a second mtge. (National Trust Co.. Toronto, trustee)
guar, as to prin. and
Int. by the Grand Trunk Ry. Co., see in V. 80,
p. 996; also V. 80, p. 996
V. 86. p. 794; V. 90. p. 1165; V. 92. p. 725.
Although the mortgage to secure the 3% bonds guaranteed by the Govern
ment ranks before the mtges.
securing A and B bonds guaranteed by th*
Grand Trunk Ry. of Canada, yet an agreement schedule to aa Act of 1904
provides in effect that in the event of default by the company for 5 years In
payment of the int. on the 3% bonds, the remedy of the Government shall
be to put in
a manager
with the
concurrence of the
corhpany to operate the
Western Division and to collect and distribute net
earnings of each particular
division pari passu between the holders of the oonds
guar, by the Govt
and the holders of the bonds guar,
by the Grand Trunk Ry. Co. In the pro
portion of 75% of such earnings to the holders of the Govt, bonds and 25
to the holders of the bonds of this division
guar by tb" Grand Trunk Rv Co
The £2,000,000 5% notes due March 1
1921, were paid off at maturity.
V. 112, p. 1024.
As to $10,000,000 loan of 1909. see V.
88, p. 822. 1194, 1061, 1253.
For
$15,000,000 loan o
191.3. V. 96. p. 1629, 1772; V. 97. p
175.
Regarding
Grand Trunk Pacific Branch Lines bonds, see V. 90.
p. 1044, 1165: V. 83
p
1437; V. 96, p. 285: V. 97, p. 1583.
For issues guaranteed by Provinces
of Alberta and Saskatchewan, see V.
99, p. 1451: v. 95. p. 1331; V. 98. p
285; V. 94, p. 1448.
As to Dominion guaranty of $15,940,800 (£3.280.000'
4% issue of 1914, the final $7,500,000 of which had been issued in Jan. 1919,
see V. 98, p. 1766; V. 108,
p. 480, 578.
Perpetual debenture stock, see V. 84, p. 570; V. 96, p. 1296; V. 88, p. 624
V. 90. p. 303: V. 96. p
789; V. 94. p. 207; V. 95. P
1207. 1607: V. 96. p
789.1088.1297.1629,1700.
Seven-year 5% notes of 1914, see Y. qg. o. 73.
In April 1919 the Canadian
Govt., by way of loans. Ac., had put $145.000.000 into Grand Trunk Pacific
V. 105, p. 1415: v. 106. p. 2559.
FINANCIAL STATEMENT.
&C.—A
full financial statement as of
Feb. 29 1916 was given In V. 102,
p. 1982.
Reports of members of the
Royal Commission. V. 104. p. 1754. 1800. 2117, 2235 V. 105. p. 1415.
EARNINGS.—For year ended June 30 1917 (compare V. 109, p. 172):
Q.T.P.Ry. Q.T.P.Bi ,L.|
G.T.P.Ry. d.T.P.Br.L.
•
Oper.
revs
Net
..$6,651,298 $1.593.019(Deductions,
loss 250.878 loss225.6131
Non-oper. Inc. 2.535.064
Note.—Deductions
the
operating loss
incl. Int., &c$7,99l,766 $1,222,523
909.3761 Net deficit
..$5,707,581
$538,760
from gross
on
income G. T. P. Ry. include $906,934
the branch lines and non-operating income of the
branch lines company includes credit for this amount.
In March 1919 it was reported
authoritatively that whereas in 1917 the
Grand Trunk Pacific showed $2,200,000 and In 1918 $1,900,000 available
for interest, it was in 1919,
pwing to the insufficiency of the increased rates,
showing a deficiency, instead or a surplus, In net results.
For years ended June 1916.—
Gr. Tr. Pac. Q.T.P.Br.L. Transcon.Ry.
Operating
$6,963,189
1,070,904
revenues
Net Income after oper. expenses
Charges other than funded debt
_
Balance
tatus in Aug.
1918, seelV. 107,
p.
$1,070,904
696.
$1,319,599
loss 50,534
$5,798,516
466.135
808.751
loss $50,534 loss$342.615
REPORTED
Miles.
-3.472
Leased—partly owned.
Atlantic A St. Lawrence, Port¬
land,Me.,to Island Pond, Vt.
165
Buffalo & Lake Huron
164
Clnoln.
54
211
Other
Sag, A Mackinaw
lines
SEPARATELY.
Majority stock owned.
Centra) Vermont*
Grand Trunk Western*
Miles.
531
347
Entire stock owned.
Pontlac Oxford A
Northern
Detroit Grand Haven A Mil*..
Tol. Sag. A Muskegon
Jointly owned.
Detroit A Toledo Shore Llne__
101
191
96
79
Total In earnings
Total road J
4.008
5,360
Car ferry. Grand Haven to Milwaukee.
•See separate statement this Co.
-
oy
was
RY. OF CANADA.—(.See Maps.)—Quebec. Can.,
111., also to Portland. Buffalo. Detroit.Toledo, &c.
PROPER.
Lines owned
moved and sent to France under agreement for Joint
operation with Cana¬
dian Northern Ry. of line in said Territory.—V.
107, p. 169.
ORGANIZATION.—Incorp.
TRUNK
SYSTEM
HISTORY.—See V.
106,
p.
-
395.
NATIONALIZATION.—The Governor-General of Canada
1919
signed
a
bill looking to
the acquisition
on
Nov. 10
the Government of the
by
entire capital stock of the company, except the £12,500,000 4% Guaran¬
teed stock.
A board of three arbitrators (Sir Walter Cassils, Sir Thomas
White and William Howard Taft) have been appointed to determine what
bo psiicL for the stock
Rfiptl 1
•
-
The Governor-General of Canada
on
May 11 1920 signed the amended
bill for the purchase by the Dominion Government of the stock control of
this company.
The committee of management as announced May 21
Includes: Chairman, Howard G. Kelley, Pres. Gr. Trunk
Ry.; (a) repre¬
senting Canadian Govt.: C. A. Hayes, at present V.-Pres. of Canadian Na¬
tional Rys., in
charge of traffic, and S. J. Hungerford, Asst. to the V.-Pres.
of the Canadian Nat. Rys.; (6) representing the Grand Trunk
Ry. Co.:
W. D. Robb, V.-Pres. of the Grand Trunk, in charge of transportation, &c.;
Frank Scott, V.-Pres. & Treas. of Grand Trunk Ry.
The shareholders ratified the plan Feb. 19 1920.
New guaranteed stock
to the amount of their aggregated appraised value will be Issued in
exchange
for these old stocks in proportions to be determined by the arbitrators, and
dividends on such new stock at 4% per annum will be guaranteed
by the
Canadian Government; provided, however, that the Government shall not
be obligated to pay in any year in excess of $5,000,000 as dividends on:
(a) the present £12,500,000 4% guaranteed stock, and (b) the new 4% stock
that will replace the present First, Second and Third Pref. shares.
V. 109,
p. 1891.
As to liabilities to be met by Canadian Govt., see V. 109, p. 1986.
The Government will also guarantee the dividends on the present 4%
Guaranteed stock and the interest on the company's debenture stock issues,
all these securities at the same time parting with their voting power.
The
present 4% guaranteed and also the new guaranteed stock will be made
subject to call at par and dividends.
Compare V. 112, p. 1740.
A committee of management, consisting of five
persons, is to be formed
to insure the
operation of
Canadian National lines,
the road as far as possible in harmony with the
the two systems being treated in the public
interest as nearly as possible as one system, pending completion of the
aforesaid purchase of stock by the Government.
The Government will
also be authorized to lend to the committee of management such sums as
may
the
be necessary for the carrying on of the railway.
Upon the transfer to
Government of the preference and common stock, the Government
provide for the discharge of the receivership of the Grand Trunk Pacific
Ry. System. V. 109, p. 1527, 1609. 1891: V. 108. p. 2122, 1390, 1274. Gov¬
may
ernment aid as to rolling stock.
The shareholders
on
V. 107.
o
May 12 1921 ratified
82,
an
agreement between the man¬
agement and the Canadian Government providing for the transfer of the
control of the railway to the Government during May.
V. 112, p. 1519,
1740.
1977. 2083, 2190.
Official circular dated Feb. 2 1920, giving history of negotiations with the
Canadian Govt, and text of amended agreement.
V. 110, p. 2291.
at
„
DEBENTURE
Included
STOCK—NOTES.—Perpetual
,
,
,
consol. 4%
,
^
deb. stock
In
August 1916 a total issue of $180,703,378, from time to time
by Acts of the Parliament of Canada, of which $119,839,014
was In hands of public; $10,723,731 was
pledged as collateral security for
promissory notes, $14,105,424 was set aside for certain specified purposes,
and $6,040 209 was held In the treasury without limitation as to purposes
of Issue.
The debenture stock Is a first charge (1) upon the
property,
subject to certain prior liens, including the 5% debenture stock, aggre¬
gating about $54,000,000. and (2) on $76,048,441 securities of companies
consolidated with the Grand Trunk Co., absorbed, and controlled com¬
panies.
V. 97. p. 1733; V. 98, p. 1156.
V. 109, p. 370.
In 1918-19 sanction was obtained for additional £2,500,000 Grand Trunk
Ry. 4% Consol. Debenture stock.
V. 109, p. 370.
2d Equip. 6s were extended for 2 years at same int. rate.
V. 108, p. 2528
The £1.000,000 6 % 3-year notes issued In Jan. 1918 to meet £1.000.000
6X% notes
due Jan. 14 1918,
are
secured by
£1,700.000 perpetual
consol. deb. stock.
V. 105. p. 2272. 2542. 2272: V. 100. p. 54.
In Sept. 1918 £3.000,000
6% 3-year notes were sold, secured by £5,000,«*
000 perpetual consol. debenture stock.
V. 107. p. 1192, 1287, 1384;
V. 97, p. 298, 52.
Interest on these notes was defaulted on April 1 1921.
authorized
^
V.
112.
p.
1865.
_
^
#
_
_
The $25,000,000 7% debenture bonds of 1920 have a sinking fund of
$500,000 per annum, available semi-annually beginning Apr. 1 1921 for the
purchase of bonds at or below par.
V. Ill, p. 1472.
Canada Atlantic Ry. was merged Jan. 1 1914; V. 100. p. 1432; Its 50-yr. 4s
of 1905URoyal Trust Co., Montreal, trustee), carry guar., prin. & int., of
Grand Trunk.
V. 79. o. 1641, 24: V. 80. p. 2313:
V. 87. p. 1477.
Station Co. bonds, V. 82, p. 452.
Montreal Warehousing guaranteed
bonds. V 83, p. 37.
Grand Trunk Pacific Devel. Co., V. 90. p. 306; V. 91.
p. 1449: V. 92. p. 1238: V. 93. p. 1107.
In 1917-18 the Canadian Govt, agreed to loan the company $12,000,000
for Interest charges, improvements, Ac< V. 105, p. 497, 818, 997, 1415.
Compare V. 108, p. 917: V. 107, p. 1384. 1287.
Government loan of $25,000.000 in 1920. V. Ill, p. 74.
As to the receivership of Grand Trunk
Pacific Ry., see that co. above and V. 103, p. 1118.
Moose
Ja^-
rEQ|N>
Oak Point
Girnli
WolseleyN
Pasqua
Cj*
MAP
OF
THE
Milestone'
GREAT NORTHERN RAILWAY
Weyburn
Stoughton
SECTION)
(EASTERN
Fitevam
Wood Mountain
4, Surprise Valley
r-r-
RoseatV
it
Grand Falls
g^Kelliher
e^
lazaov
-a^°
c
A
\
Jct.J&i
Newton
<3 etty
ibure-^^i^,^
•
Stontou
?.}&—
^RiCHtyW
••°
Garrisom.
Killdcer
U
GlendivM
A
Beach'
«Ivyf*"^S&wC >•
'nW
__.«»»*» *
* " ■
<j-~.
WLMsbV:;^
\ur\C Lutte"
N£W
Glenullen
New England
Echo Lake
.,
^^NVwihon^
KllV
O
Mand u
■Lac la Belle
Lewh Lake Ha fin
1
ida
-Nj^
Park^^|
~^T\
Sfl&.-Lj
-^.BISMARaKjjcfcl
Terry^eK-
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Sft!
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Circle:
,
■M
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iijv\7\McKcazie japes'-0
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mtouagoh
^a^Bitvlield
I
A
Melstone
Michigammei
BOYLSTON
Miles.City
Mott
'annon Ball
Linton.
Marmarti
iiar^ueu'e:
Edgeley,
"atersmeer
vMellen
"S^forsyth
Scranton
.Saunders
Kennedy
Leuimon
Huutley'
Gladstone)
Pollock
■Escanaba^
Pembine
McLaughliu
t^Toluca
Bhinelaiidei
Mobridge
Crow Agency
Preutice \
Broadus
Faith
Ionia
Tomahawk
La Beau
**^Pp"et^
Aberdeen
mllingham
cn
Faulktoiy
aunie
Hedfield
Kane
Clearmont
Spenrfls
^Basin
Buffalo
^eadwood^^
Gilleue^SLO.
heviuo
PI ERR
w\
Midland
YPiedmont
Sunshine
S. Hill
Worland
\
fC
City\£
imbrfu,
Newcasth
Anchor
Cr^yHolland
wIblen-^.
Tliermopolis
Hot
.Platte
Rosebud
V
Leuuqx)^-_
s
/Davis\3
>/
.
Dakota Jo.
JJuerni iy
"
'
—jLc^ermania Ky'i
Wheatland,
.Mitchell
.Milwaukee
#Surubte^
rSIOUX
C.A shby
Thayer Jo.
North port
Mountain
Laramie
Kenosha
Freepor?
b.
Hecla
Savanha\ Forrestoui
Oakland'
feSerson
;Ced&r_RapldfT
Ericson
■Clintonj
Srinuell
Uerna
Coluusbu;
Dalton
\Racine\
Jauesville-
Iowa Falls
CITY
.arshaJltowi
.iSeneoa
Iron
-MADISON
Tlain vie
Waloot
Tipple
-r
Hampton!
^Merrill
Girard
0
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Paoifio
Sheboygan
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y
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Edgemo]
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Winonj^
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Minueksrtlita
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W
02
w
o
02
[VOL. 112.
EAILWAY STOCKS AND BONDS
62
RAILROAD
Or and Trunk
Date
Par
Amount
Road
Bonds
Value
Dividend
Places
and Maturity
Payable
Where Interest and
Dividends are Payable
...
$394,000
$1,000
1.000
1912
...
102^
1912
18.
504.000
MAN Nov *21-May'22 Blair A Co, New York
do
do
MAN Nov '21-Nov '22
$112 M
Ser C due s-a
do
10214Ser D due $125,000 s-a call
Eq
102M--Eq
1917
1.000
560.000
1.625.000
I*
do
Ser F due $400,000 s-a not call....FP.<
1921
500 Ac
12.000.000
QH
red
Last
When
Outstanding
Ry—(Concluded)—
Car trusts due $197,000 semi-an red 102
do
Ser B gold due $168,000 s-a red
do
Rate
Miles
COMPANIES
[For abbreviations, Ac., see notes on page 6]
1.000
1913
Whipple Car Co 1st r. e. A coll tr M g due $30,0(
yearly red 102 (V. 97. p. 1663)
c*
Qrand Trunk West—-1st M lot gu $ (cur) A £ ..Fx
Gen consol M aufch $30,000,000 guar p A I
Us mi
Great Northern—Stock $250.000.000...,
Gt Nor 1st A Ref M g red 105 beg '41--Ba.xc* Ar*
do
gen mtge Series A
c
Old Underlying Divisional Bonds—
St P M A M consol mtgel (now 1st M) gold...Cezl
for $50.000.000J(V 91 p 518) sink fund.z)
331
331
1912
1900
$
1912
«r
»
m*
7.480
1911
7,675
60.000
15.000.000
A £
2.542
1883
2,542
2,542
1883
1,000
1.000
1883
1.000
A Aug
21-Aug
&
A Feb
1 1936
A
D Dec '21-Dec '22
J
J
Fidelity Trust Co, Phila
Bank Montreal.NYALoa
do
do
1950
May I 1921 1H 32 Nassau St. New York
Q—F
J
A
J July 1 1961
J
Hg
7 g
13.344.000
20.918.000
8.053,000
J July 1
A
'27
MAS Sept 1 1962
g
4
See text
100 Ac
A
?g
7
$100 249.478.250
1,000 Ac *35.668 000
1921
F
4 g
11.541.000
+
MAN Nov 21-Nov 23
g F
&
J
6 g
A
4H g
A
A
do
do
New York
July 1 1936
do
do V
do
do
do/.;
do
July 1 1933
July 1 1933
July 1 1933
gold—Ce.zo^Ar
420
1887
1,000
t*
4 g
A
June 1 1937
£6.600.000 gold
Ce.zc#Ar
OBAQcoItrMg convert red at 103K .....CAr*
849
1890
£100 Ac
4 g
A
6K
A
Vt
u
A
A
July
July
July
July
July
Apr
July
A
June 1 1938
do
do
A
July 1 1939
do
do
Montana Ext 1st M ($25,000 p m)
Pacific Extension M
do
do
do
Minn Un Ry 1st mtge gold
do
do
do
'
1882
1,000 Ac
1,000
2
1882
1,000
1898
1,000 Ac
1,000 Ac
1,000
1,000
1921
■:m-
.
E of M No Dlv M call 105 beg 1928 ass'd Ba.zc*Ar
284
250
1887
304
1888
130
1889
Spokane Falls A North first mtge g assum ..Ba.xc*
Gt North Ry ot Can—See Canadian North Quebec Ry
Add'1 amts. pledged, viz.: x $25,000,000 under collat. notes;
,
.
DIVIDENDS.—Total percentage paid from earnings of each year
Guar
1st
2d
3d
stock_%
4
5
5
6
5
3
%
%
2
since
'16, '17-'21.
444
4 3H 44
5
5
5
5
0
0
5
5
6
5
5005
14
IK 214 214 0
0
0
444
65
5
5
2H 5
3
0
0
4
%
pref
pref
pref
,
following April declarations combined:
n)5.mW.mW*10.,ll;*12.,13.,14,,15.
See
text.
1917 to Dec. 1920 none on 4% guaranteed or pref. stocks.
On
Jan. 1 1921 an initial payment was made at the rate of 4% per annum under
Nov.
guaranty of the Canadian Govt, on the guaranteed debenture stock
covering the period from May 22 to Dec. 31 1920. less K of 1% to cover
cost of arbitration.
V. Ill, p. 2520.
April 1921 interest paid, V". 112,
the
1865; V. 107, p. 1747, 1384: V. 106, p. 1230: V. 105, p. 1708. 1522.
In
May 1917 paid 2% on guar, stock and 2K % on first pref., and an annual
p.
5% on 2d pref.
REPORT.—Report for calendar ydar 1919. in V. 110, p. 2286:
1917.
1919.
1918.
Gross receipts
----------—----£14,125,500 £12,655,200 £10,725.500
£1.722,600
Net revenue
£1,659,800
£1,857,100
1.496.700
Revenue charges—
] ,382,200
1,518,500
Estimated deficit account lines under
199.600
Government control---—
276,500
336.800
Calendar Years.
-—
£1,100
Balance, surplus---OFFICERS.—Pres., Howard G.
W. Smithers.—(V. 110. p.
£26.300
£1,800
Kelley; Chairman of Board, Sir Alfred
257, 372, 1144, 1282, 1519,
2385: V. 112, p. 61,
1617, 1740, 1865. 1977 , 2083.)
OREAT
NORTHERN
RY.—[See
Maps.)—Operates a line from St
Wash., to Seattle. Wash., and Van¬
B. C.
with trackage rights Into Portland, Ore., and numerous
branches In Minnesota, Iowa. North and South Dakota, Montana. Idaho,
couver,
Washington, Manitoba and British Columbia.
Total miles of road in systen Dec. 31 1919, 8,178 miles; add mileage owned but not operated as part
of system, 53 miles; total, 8,231 miles, viz.:
Crmtrolled Companies—
Lines owned in fee—
Miles
Miles
St, Paul to St. Vincent. Minn..
393 Vancouv., Vic. A East. Ry.AN.
270
430
Minneapolis to Seattle. Wash. .1,832 Other linos
Trackage—
Everett, Wash., to Int. Boundary
92
Seattle to Vancouver, Wash
173
Other lines owned in fee to Su¬
—-
223
perior, Butte, Sioux City, Ac.4.814 Various other lines
7,132 Second. Ac., tracks A sidings..2,835
New terminal companies 1917, V. 104, p. 560; V. 106, p. 174.
Owns Jointly with Northern Pacific the Spokane Portland A Seattle Ry..
$56 miles.
V. 85. p. 1273; V. 86, p. 1529.
In Dec. 1908 Chic. Burl. A Quincy (jointly held with Nor. Pac.) acquired
control of Colo. A Southern.
V. 87, p. 1664.
Uses jointly Northern
Pacific line, Seattle to Vancouver, Wash., 173 miles.
V. 88,p.l372.
Controls Midland Ry. of Manitoba jointly with Nor. Pac. Ry. V.95.P.230
Total road owned
ORGANIZATION.—In 1907-08 absorbed St. Paul Minn. A Man., Ac.,
V. 85. p. 600, 1209; V. 86. p. 168,
Great Northern Equipment Co.
794; V. 106, p. 1577.
capital stock, $12,000,000, V. 108, p. 378.
V.83. p.1469; V.84,p.749.
STOCK.—"Single class, with uniform rights."
cent-
1*92 to '96 (lnol.)
'97, '98. '99. '00.
)
DIVIDENDS.Per
5K 6K
5% yearly
7
9.695,0001
10.000.000 5
3.625.000
229.000
UnDec. 31
er
A
<5c
A
&
i1
Pacific
1919
Gt.
Exten.
Nor.
Mtge.;
and
Nor.
1901 to May '21.
7
7% yearly, Q-F
Also in 1898 50% In Seattle A Mont, stock, which was then exchanged
at 80 In payment of 40% of subscription to additional Gt. Nor, pref. V. 66,
1044, 1188; V. 74. d. 829.
In May 1901. 4% and In Nov. 1907 14%
paid from earns, of Lake Superior Co., Ltd., and in Dec 1906 unit for.
unit, shares in Great Nor. Iron Ore Properties. See "General Finances."
BONDS.—Of the "1st A Ref." 50-year bonds ($600,000,000 auth.), $87,-
p.
was
076,000 had been issued as 44 % bonds to Dec.'31 1919, of which $35,668,*
000 sold and $26,408,000 held in treasury, and $25,000,000 deposited as
security under the company's collateral trust indenture to secure the
issue thereunder of $20,000,000 3-year 5% Collateral Trust notes.
These
bonds (in hands of public) are a first lien, directly or through deposit
Of stock, on 2.698.55 miles of road at $13,217 per mile, and a general lien
(subject to existing liens of $22,475 per mile) on 4,781.77 miles: total mileage
covered, 7,480.32; also secured by equipment at the time of the mortgage
costing $59,073,180, upon $46,200,068 of which It is a first lien.
V. 92, p
1499; V. 93. p. 871; V. 98. p. 698.
Provisions Respecting $600,000,000 First A Ref. Mtge.
Sold for pres. purposes, $35,000,000; held in treas., $10,000,000.$45,000.000
Reserved to retire existing obligations. Including the $222,400,-
32 Nassau NY:Lee,H,Boa
32 Nassau St, New York
1948z
1937
£14 5,900 under 1st A Ref. M-
$107,613,500 of
owned
the
In
April 1921 a syndicate headed by J. P. Morgan A Co. and First Nat.
an Issue of $230,000,000 Northern Pacific-Great
A Q. collateral)
joint 4% bonds
Julv 1 1921, with final coupon attached, were accepted in payment at
Bank, New York, offered
due
100 and int. to date of payment on allotments.
Bonds are to be the joint ofcl gations of the Northern
the Great Northern
Iiy., and
conservatively valued at
an
Pacific Ry. and of
are secured by pledge of the following collateral
amount in excess of 120% of the principal
amount of this issue:
1,658,674 shares of the capital stock of the Chic. Burl. A Qiuncy RR.
$33,000,000 North. Pacific Ry. Ref. & Impt. M. 6% bds., ser. B, due 2047.
$33,000,000 Great Northern Ry. Gen. M. 7% bds., ser. A, due 1936.
The bonds are redeemable as a whole or in amounts of not less than
$5,000,000 at 1034 and int.
In the indenture securing the bonds the Northern Pacific and Great
Ry. cos. have covenanted that, in the event of any mortgage
being placed on the properties junior, respectively, to the Northern Pacific
Ref. A Imp. M. and to the Great Northern Gen. M., such new mortgages
will secure the Joint 6 4 % bonds outstanding by a lien par passu with that
Northern
«curing such new bonds.
The indenture also provides
that if the amount of that issue is reduced
through conversion or retirement the bonds and stock deposited as collateral
may be withdrawn proportionately by the respective companies.
The bonds are convertible into Northern Pacific Ref. A Imp. M. 6%
bonds, Series B, due 2047, or into Great Northern Gen. M. 7% bonds,
Series A, due 1936, part of which issues are deposited as collateral and of
an additional amount is reserved, sufficient to provide for the con¬
version of the Joint 64% bonds.
The conversion may be exercised by the holder of Joint 64 % bonds with
a
A
principal amount of bonds, either all in the Ref.
Imp. M. 6% bonds, Series B, of the Northern Pacific, due 2047; all in
view to obtaining a like
desire,
but
in
issued
not more than $115,000,000 of either of
conversion.
As Joint
64% bonds are presented for conversion, the trustee
will with¬
the#eposited collateral
a proportionate amount of C. B. A Q.
with the trustee of the Northern Pacific
the Great Northern Gen. M., as required
by the demand for conversion, and will deliver such Northern Pacific or
Great Northern bonds, as the case may be, in exchange for the Joint 64%
bonds presented for conversion.
At the time of conversion an adjustment
of accrued interest will be made between the Joint 64% bonds presented
for conversion and the mortgage bonds issued in exchange.
Compare
V. 112, p. 1866.
The Gen. Mtge. bonds are secured by a mortgage covarmg the entire
railroad property of the Great Northern Ry. in the U.S., subject to existing
debt, and, in addition, by pledge of $36,332,000 Ref. M. bonds (subject
to the temporary pledge of $24,200,000 thereof to secure advances from the
U.S. Government) secured by the same mortgage under which the $35,668,000 Great Northern Ref. M. 4 4% bonds, due 1961, now outstanding in
the hands of the public, were issued in 1911 and subsequently.
They will be
additionally secured by such shares of stock of the O. B. & Q. RR. as are
released by the trustee of the joint indenture as a result of the conversion of
the Joint 6 4 % bonds into the Great Northern Gen. M. 7% bonds.
Bonds
are not subject to redemption before maturity.
draw from
stock and will deposit such stock
Ref. & Imp. M., or the trustee of
,
Dlv. mtge. of 1898 limited to $9,700,000.
V. 66. p. 471: V. 88. p. 1002. 1253
Compensation.—$28,771,360 yearly during Federal control (con¬
tract executed).
V. 108, p. 784, 2329.
Government loan, Y. Ill, p. 493.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Eastern Ry. of Minnesota.—Nor.
red. at 105 after April 1 1928.
are
Federal
Jan. I-Dec. 31
1920.
1919.
$
$
-—Jan. 1 -Mar. 31
1920.
$
1921.
EARNINGS.—
Gross
......
Net after taxes
$
19,213,455
25,124,823 124,192,373 106,533,738
„def.2,899,748defl,147,252
4,075,364
12,696,523
REPORT.—For year'1919, In
Calendar Years—
V. Ill, p. 67, showed:
1919.
1918.
19IT.
8,220
8,260
8,233
$19,623,859 $15,672,420 $15,836,341
77,351,472
76,937,445 64,300,666
6,277,063
5.707,159
6,342,061
3,309,750
2,381,496
2,119,666
Average miles operated-.
Passenger earnings----.--Freight
Mail, express, Ac
Other than transportation-..
-
lines. Ac., and purchase of stocks and bonds of other cos
122,938,000
due 1936, or in
the holder may
such bonds will be
the Gen. M. 7.% bends, Series A, of the Great Northern,
bonds of both issues in any ratio between the two which
Net
Gross
$106,562,145$100,698,520 $88,598,734
$19,775,872 $16,269,275 $29,316,579
28,686,973
28,686,973
operating revenues
earnings...-t
compensation
Reserved for the acquisition and construction of new lines, ter¬
minals, Ac., at not exoeedlng $3,000,000 in any oal. year
100.000.00C
St. Paul Minn. A Man. consol. mtge. of 1883. for $50,000,000. Is now a
first lien on both land grant and 2.542.16 miles of road and a second Hen or
formerly Minneapolis Union Ry. V. 91. p. 518; V.64
518 ;V. 86. D. 229: V. 87. d. 1533: V. 88. p. 295. 624. 1061. 1372
Montana Extension mtge. Is limited to $21,687,000 on 837 miles In 8tate
of Montana; $10,185,000 are in hands of the public and $11,502,000 with
trustee of Pacific ext. mtge. to secure to that mtge. first lien on tracks
Pacific Jet. to Idaho State line, 417 miles.
Pacific Extension mtge., £6,000,000, at £6,000 per mile In Montana and
£7,000 pot mile west of Montana,
v. 66, p. 1044, 1188; V, 80. p. 1111,
1174; V. 90, p. 383.
See abstract of mtge.. V. 52. p. 82.
Rentals paid
Hire of equipment balance.
Bond interest accrued
3,364,760
883,076
Add miscellaneous income
Deduct railway taxes.
do
32 Nassau St, New York
do
do
Northern joint 15-year 64 % convertible gold bonds (C. B.
due July 1 1936, at 964 and int.
The O.B.&Q. collateral
Federal
p.
'
$110,839 100 Chicago Burl. A Quincy RR. stock, exchanged
for their
Joint 20-year 4% gold bonds (secured by deposit of the stock In trust),
on basts of $200 In bonds for each $100 Btock.
See circular, V. 72, p. 871.
1034, 1135, and application to list, V. 73, p. 294,903; V.85, p.600. Through
the declaration of a stock dividend by the C. B A Q. of 54.132% ($60,000,000) to stockholders of record Mar. 31 1921, these holdings were increased to
$165,867,400 out of a total of $170,839,100.
000 auth. Issue of Northern Paciflo-Great Northern Joint 4s.
due 1921, of which $7,173,000 have not yet been issued
332,062.000
for general corporate purposes, acquisition of new
Reserve
2.47 m. of double track
Bond, Baring Bros
do
1936
1922
1922
Pac.
A
New York
1936
z
do
do
N Y
1940
which
QRAND TRUNK WESTERN, RY.—See page 139
Paul and Duluth. Minn., via Spokane.
(H total)
2,15U,CKJO
650.000
of y $11. 502,000 und
Equipment trusts Issued to Director-General for rolling stock allocated
this company.
See article on page 3
London dispatches in April 1921 stated that the company defaulted the
April 1 1921 payment of certain interest coupons on one of its issues floated
In London [presumably the f3.000,000 6% Secured Notes due Oct. 1 19211This default. It is said, is only temporary.
There has been no default on
the issues offered in the United States.
to
1903 being the October and
Ac
2
■
registered
r*
assumed
Ce.zo*
Mont Cent 1st M g ($6,000,000 are 6s) ass.-.Ce.zoAr
Wlllmar & Sioux Falls IstM g assum (end)Ce.zc*Ar
xy z
100
1921
1
1
1
1
1
1
1
Gross
Dividends
on
stock (7% per
2,576,230
640,583
5,385.635
60,475
$2,100,466
$1,959,844
$131,103
7,431,387
annum).
—
appropriations
surplus
$1,082,933
149,021
6,772,641
17,462,959
17,462,890
$10,916
1,617,303
I
fund
Balance,
8,031"140
6.302,952
$12,583
732,785
7,435,498
17,462,842
Ac
Renewal Allouez Bay ore docks
Pension
2,171,526
1,514,363
$31,199,192 $28,244,136 $31,044,767
corporate Income
Miscellaneous
,
-
MAY, 1921.]
RAILWAY STOCKS AND BONDS
Miles
Dais
Par
Amount
Rate
When
Road
RAILROAD COMPANIES
[For abbreviations, &c., see notes on page 61
Bonds
Value
Outstanding
%
Payable
(ireea Bay & Western RR—Stock (see text)..
Debentures Class A Incomes text non-cum.
Class
B Incomes after 5%
on
Last
$100
1.000
1,000
1896
1896
23
21
21
$2,500,000
5
600,000
5
Yearly
Yearly
X
Yearly
100
zo*
stock non-oum.zc*
Qrecne RR (New York)—Stock,guar
Greenville & Western RR—1st M $460,000.......
Greenwich & John son ville—1st M $500,000 g.G.zoAr
Groveton Lufkin & Northern Ry—-1st M gold..
Guantanamo & Western—-1st M $600,000 gold.Col.x
200,000
460.000
500.000
7.000,000
1914
1904
1.000
1909
1909
1.000
Refunding mortgage $6,000,000
—....Col
Oar trusts as of June 30 1920 (Series 1, 3 & 4)——
Gulf Line—See Hawkinsville So Florida Southern Ry
Gulf Mobile A Nor RR—Common stock (vot tr ctfs)
Pref (p A d) (v t ctrs) 6% cum from Jan 11920
Mobile Jackson & K O 1st M
.........Ce
New mortgage $15,000,000 authorized...........
1896
J
4 g
6S 8
Mar21 1921 5% Office 40 Wall St
N* T
Mar211921 5%
do
do
Mar21 21 M%
do
do
A
D June
O
L
A
W.
90 West St
^Guaranty Trust Co. N Y
Columbia"Trust
Co 7 N Y
...........i..
Various
11,072.500
11.494,400
27,000
See text
100
Places Where Interest and
Dividends are Payable
A
182,000
100
Dividend
and Maturity
1921
3%
J July 1 1934
J Jan
1 1924
J
A
J Jan 1 1939
M AN 15 Nov 15 1929
6
See text
<5c
J
J
b
437,000
600,000
1918
Var.
Gulf
63
J
&
6g
U" S~ Mtg~&~ Tr"Co,~N Y
D June 11946
Pensacola & Northern RR—see text....—
100
Uulf & Ship Island—Stock...........—...
First Refund and Term M gold sink fund>N.xo*x Ar*
Serial debentures g call at 105 ($50,000 due yly)—y
307
Golf Term, Mobile—1st M $700,000 g gu (text) xo*&r*
"99
Gulf Texas & West—1st M $10,000,000 g redl05.Mpx
Hampden RR—First mortgage see text..—......
Hancock & Calumet—See Mineral Range RR
Hannibal & St Joseph—See Chicago Burlington & Qui ncy
20
Harriman & Northeastern—First mortgage gold..Cez
Car trusts due semi-annually
—..........
Harrisburg Ports Mt J & Lane—See Penna Ry.
124
Hartford & Connecticut Western—Stoox...—....
First mortgage extended In gold in 1903....
124
z
95
Hawkinsv & F1 So—1st M Series A gold guar p & 1 -x
IstM Se B (equally sec.with A) g guar p & I
95
x
Henderson Bridge Co—See Louisville & Nashville RR
1902
1916
1907
1909
5 8
6 g
1.000
600.000
1,000
2.000,000
See text
i g
5
........
1895
100
AO
100
1902
1913
700.000
345.000
to
5
X
5
X
5
X
5
5
tX
X
5
5
X
X
X
OREENviLLE
&
O Apr
do
Union S B
do
1952
1 1952
Tr Oo.Oin
A
do
&
NORTHERN
RR.—Pensacola, Fla„ to a
Ala., 143 m.; Gateswood Jet.
do.; total, 170X m.
branch, 2X
a
syndicate formed by him purchased $1,000,000 receivers' certifs.
These receivers' certificates
hfeb consists of ail that had been authorized.
ISLAND*RR.—Owns
GULF & SHIP
from Guifport. on Mississippi Sound,
Gulf of Mexico, to Jaokson. Miss., 160.50 m.; Maxleto Mendenhall, 104.75
<n ; Saratoga to Laurel, 41.75 miles; total. 307 miles
Federal Contract.—The
company's contract
in Dec. 1919, fixes the annual compensation at
X
ith the Government, signed
$595,882.
DIVIDENDS.—1903 to 1910, 4% yrly; '11. 4%; T2-T3, %%', '17. 4%
BONDS.—Of the first 5s outstanding In Dec. 1917, $986,000 bonds ware
See V. 74, p. 426. and application to list.
V. 74, p. 1257.
in sinking fund.
V. 81, p. 264.
-—-Jan. 1—Mar. 31
1921
1920
Gross
—Jan. 1—Dec. 31
1920
1919
$710,213
r
GREENE RR.—Owns road from Chenango Forks to Greene, N. Y„ 8
A
A
PENSACOLA
Net after taxes—
Lackawanna
O Apr 1
All of the above mortgages and securities are authorized and ready to b«
issued when the road has been reimbursed for funds due it through the
railway Act of March 1 1920.—(V. 109, p. 1986; V. 110, p. 2192.)
DIRECTORS.—J. A. Jordan, Pres.; Edgar Palmer, V .-Pres.; Charles W.
Cox., Sec. A Treas., 40 Wall St., O. Ledyard Blair, J. A. Jordan. Henry R.
Taylor. W. J. Wilson.—(V. 112, p. 1024.)
Delaware
A
canceled under the reorganization and the road becomes the property
of the former bondholders of the Gulf Florida A Alabama Ry; Co.
REPORT.—For cal. year 1920, gross, $1,087,019; net, $119,867; other
income, $277,582; deductions, $178,987; dividends, $163,750; bal., sur.,
$54,712.
miles.
Leased to
for 6% on stock.
1% Hartford
J July 1 1923
A
A
Owen, 15 m.; sidings, 10 m.; Goulding
Authorized stock, $2,500,000•
brough
v
'17. *18. '19-'21
5
5
5
6
5
5
1
F A A 31 Feb 28 1921
J
5 g
5 g
Centra) Union Trust N Y
Union 8 B A Tr Oo, Olnc
are
Federal Compensation.—$331,955 yearly during Federal control (contract
executed).
&
J Jan 1 1921
D To June 1924
BONDS.—$2,500,000 1st Mtge. 6s, due 1940 (Int. J. A J.); $1,200,000
SECURITIES.—There are no fixed charges on the property other than
taxes, nor can any be placed thereon or the property be sold or leased
without consent of 75% of stock.
Class A debentures are entitled to 2X %
interest, if earned, then common stock to 2X %, then the two share ratably
but after 5% on both, class B is entitled to all surplus earns.
V. 61, p. 471.
X
A
A
income 5s, due 1950 (int. J. A J.).
The above property was formerly the property of the Gulf
Florida A
Alabama Ry. Co., which property was sold at foreclosure on Oct. 15 1919.
The new company has been organized and Mr. Jas. H. Fraser is President
under a reorganization planned by its Receiver, Mr. John T. Steele, who
GREEN BAY & WESTERN RR.—Owns Green Bay, Wis., to East
Winona, 213 miles; branches, Ac., 38m.; trackage Ch. & N. W., 23 miles.
Compensation under Federal control fixed at 8331,955.
V. 108, p.
1721; V. 109, p. 369.
5
J
J
connection with the So. Ry. at Kimbrough,
GREAT SOUTHERN RR.—See Feb. 1918 issue.
Class "B" debs. M
261,000
OULF
New York office, 32 Nassau St.
Hill, R Budd, E. O. Lindley, F. E. Weyer¬
haeuser, W. B. Dean, W. P. Kenney, St. Paul; A. L. Ordean, P. L. Howe,
Minneapolis; E. T. Nichols. E. E. Loomis, Nicholas Terhune, T. M.
Schumacher. N. Y,—(V. 112, p. 744, 932, 1024, 1144, 1282, 1519, 1866.)
Capital stock..
2'
In 1917 4%
Gulfport, Miss
A
J Feb 1 1952
Metropolitan Tr Oo, N Y
MAN May 1922 to '24 'Bankers Tr Co. Buffalo
J
A
J Jan
1 1957
Franklin Trust Oo. N Y
M
A
N Nov 1 1939
Metropolitan Tr Oo. N Y
30 years
J
OFFICERS.—John W. Platten, Chairman, N. Y.; I. B. Tlgrett, Presi¬
dent; F. M. Hicks, Comp., Mobile. Ala.; R. F. Brown. Sec. A Treas., N. Y.
—(V. Ill, p. 1182, 1369, 1566, 1752, 2041. 2324, 2420.)
W.
DIVS. '08. *09. '10. *11. '12. *13. '14. '15. *16
Class "A" debs.
5
5
5
5
5
5
5
5
5 '
g
2,967.000
1,000
1.000
1,000
1883
OFFICERS.—Chairman, Louis W. Hill; Pres., Ralph Budd; V.-Pres. &
LATE
300,000
78,000
1914
Asst. Sec., E. T. Nichols; V.-Pres. Exec. Dept., G. R. Martin; V.-Pres. &
DIRECTORS.—L.
text
5.000.000
150,000
Gen. Counsel, E. C. Lindley; V.-Pres. Oper. Dept.. O. O. Jenks V.-Pres. &
Dir. of Traffic, W. P. Kenney; V.-P., L. C. Gilman; Sec. & Treas., F. L.
Paetzold; Comp., G. H. Hess Jr.
7,000,000 See
1.000 Ac
1,000
$695,619
$3,053,924
$2,496,260
26.617
def.48,281
def.341,239
def.124,620
REPORT.—For year ending Dec. 31 1917 (V. 107. p. 396);
Years ending—
Other Inc.
Cross.
Net
Charges.
Dec. 31 1917
—$2,328,741
$627,685
$45,538
$309,339
Western for term of charter
Stock, $200,000; par, $100.
& NORTHERN RY.—See page 140.
June 30 1916
June 30 1915—
GREENVILLE & WESTERN RR.—See page 140
1,964.177
1,633,006
Pres., Mrs. Melodia B. Jones,
—(V. 108, p 378.)
GREENWICH & JOH NSON VILLE RY.—Owns from Sobuylerviile, N. Y.
Johasonvllle. N.Y
21.15m
Stock. S225.000, all owned by Dei A Hud
son Co.
V. 90. o. 790.
Bonds, sef table above.
For year ending Dec. 31
1920, gross, $176,088; net, $74,057; charges, $50,747; dividends, $13,500;
surplus, $9,810.
Pres., L. F. Loree, N. Y.; V.-P., W. H. Williams, N. Y.;
V.-P. A Gen. Mgr., O. E. Burr, Greenwich, N. Y.—(V. 107, p. 802.)
738.477
429,584
16.982
31,488
BaL.Sur.
$363,884
414,016
121,003
341,443
340,069
Buffalo, N. Y.; See., J.
E.
Gordon.
to
GULF TERMINAL CO., MOBILE.—Owns union passenger station and
approaches at Mobile. Ala., leased by the Southern Ry. and Mobile A Ohio
RR.. which own the stock and guarantee the bonds, jointly and severally,
p.
A i., by end. Franklin Tr. Co., N. Y.. is mtge. trustee.—(V. Ill, p.990.)
GULF
TEXAS A WESTERN RY.—Seymour to Salesviile, Tex., 99
miles.
Has trackage agreement for freight trains to Weatherford, 31 m.,
and for passenger trains to Mineral Wells, 9 m.f giving entrance via Weath.
Mineral Wells A N. W. and Texas A Pacific to Dallas and Fort Worth.
GROVETON LUFKIN & NORTHERN RY.—Owns Veitch to Valr,
Tex., 21.15 miles; trackage, Groveton to Veitch, 1.25 m., and Vair to
Lufkin, Tex., 13.6 m.; total, 36 miles.
Stock, $50,000; par, $100.
Bonds
$437,000; see table above (V. 90, p. 100).
For cal, year 1917, gross, $84,393; total net, $38,646; charges, $33,647; bal., sur., $4,999.
Pres., J. S.
Joyce, Chicago.
Office, Groveton, Tex.—(V. 90, p. 109.)
W. Frank Knox, Sec. A Treas., was
112. p. 652.
appointed receiver in Feb. 1921.
Stock auth. and outstanding, $500,000; par
GUAYAQUIL & QUITO RY.—(V. 112, p. 1617.)
$32,584; other In¬
$1,409; bond int., $100,000; rentals, Ac., $12,557; def., $143,733.
Pres., J. J. Jermyn, Scranton, Pa.; Sec. A Treas., W. Frank Knox, Dallas,
Tex.—(V. 112, p. 652.)
pleted and put in operation on Sept. 3 1919.
The Blodgett Branch is now
operated for a distance of 24.5 miles extending into Henderson and Wayne
Counties, Miss.
On Jan. 1 1918 secured control of the Meridian A Memphis Ry., extend¬
p. 1078; V. 1Q3, p. 2238; V. 104, p. 256. 764.
Owns entire capital stock and bonds of Meridian A Memphis Ry. Co..
operating 33 miles of standard gauge railroad between Union and Meridian.
Miss
STOCK, Ac.—Both classes of stock are vested for not over 5 years in
voting trustees, viz., John W. Platten, Frederic W. Scott, Samuel S.
Campbell. T. Nelson Strother and A. H. S. Post.
The pref. stock is 6%
non-cumulative until Jan.
1 1920,
and cumulative thereafter.
Stock
outstanding as shown in table above.
V. 108, p. 878.
To execute $15,000,000 mortgage to furnish collateral for Government
loans, Ac.
V. Ill, p. 1182, 1369.
The company in Oct. 1920 applied to the I.-S. C. Commission for author¬
ity to Issue $4,000,000 First Mtge. gold bonds, the proceeds to reimburse its
treasury for amounts expended.
The company has also applied for a loan
of $515,000 from the Government, to be used In the purchase of locomotives
and making improvements.
These applications were approved in Nov.
1920.
V. HI. p. 2041.
LATEST
Jan. 1—Mar. 31—
1920.
EARNINGS.—
1921.
Gross
$1,071,434
def.16,143
Net after taxes
$886,414
def.57,069
Jan. 1—Dec. 31
1920.
1919.
$4,180,494
def.753,544
$2,823,506
def.130,270
REPORT.—For 1919, combined Federal and corporate accounts show:
Cross
Net, after
Other
All
Balance,
Year—
Earnings.
Taxes.
Income.
Charges.
Surplus.
December 31
1919
1918
1917-
-
—
$2,823,506df$207,398
2,418,292
48.063
2,322,649
592.102
$80,304 $62,062df$189,156
101,878
27,080
122,861
186,538
6.629
772.011
Of the 1st
cal. year 1917 (130 av. m.), gross, $160,894; oper. def.,
Jackson Extension from Middleton to Jackson, Tenn., 40 unless was com¬
ORGAN.—Successor Jan. 1 1917 of New Orleans Mobile A Chicago RR.,
V. 100,
of shares, $100.
come,
Hattiesville,Miss.,27m; McLaintoPiave,Miss.,24.5m. (Blodgett Brch.).
foreclosed.
$29,735.
5s ($10,000,000 auth. issue), $2,000,000 have been issued on the first 99
miles.
V. 89, p. 993, 1223; V. 90, p. 109; V. 93, p. 44: V. 99, p. 406.
For
GULF MOBILE & NORTHERN
RR.—Operates 463 miles, viz.:
Mobile, Ala., to Jackson, Tenn., 409 miles (main line); Beaumont to
ing from Union, Miss., to Meridian, Miss., 33 miles, giving the company
an entrance into Meridian.
V. 109, p. 2353.
Government contract not
executed as yet.
V. 108, p. 268.
V.
.
Compensation fixed under Government control,
QUANTANAMO & WESTERN RR.—See page 140.
HAMPDEN RR. CORPORATION.—See page 140.
HARRIMAN & NORTHEASTERN RR.—Harriman to Petros, Tenn.; 20
,
In Nov. 1902 entire ($600,000) stock acquired In interest of Olno.
New Orleans A Tex. Pao. Ry,* but is operated separately.
V. 76, p. 157.
miles.
DIVIDENDS.—In 1907,4%: 1908,2X%\ 1909,2%; 1910 to 1914, incl..
For 6 mos. to Dec. 31 1917. gross, $71,030;
net, $15,226; other income, $8,705; int., rentals. Ac., $11,568; bal., sur.,
12363.—(V. 76, p. 212.)
none; 1915, 3%; 1916, 3%.
HARTFORD & CONNECTICUT WESTERN RY.—Hartford, Conn., to
Rblneoliff, N. Y„ 110 miles, and branch, 14 miles.
Leased till Aug. 1940
i
Central New England Ry. (now controlled by New York New Haven A
Hartford RR.), the rental paying charges and 2% on stock.—(V.83,p.1290.)
HAWAII CONSOLIDATED RY., LTD.—Owns Paauillo to Puna.
H., 57 miles; Olaa Mill to Glenwood, 17 m.; branches, 7 m.; total, 81
Successor in April 1916 of Hilo RR., sold under foreclosure and re¬
organized, per plan in V. 101, p. 1713, 2071, with authorized issues as fol¬
lows: (a) $2,500,000 1st M. 5s; (6) $2,575,000 7% cum, first pref.
stock
(c) $679,960 6% non-cum. 2d pref. stock; (d) $400,000 common stock.
Report showed: For year ending Dec. 31 1919, gross,$548,688: net, $111,318:
interest, $120,652; taxes, rentb, Ac., $15,251: bal., deficit, $24,494.
Pres.,
J. R. Gait, Honolulu, f. H.—(V. 103. P. 2426.)
.
T.
miles.
HAWKINSVILLE A FLORIDA SOUTHERN RY.—Worth to Haw¬
kinsville, Ga., 43 miles; Ashburn to Camilla, 50 miles.
V. 97, p. 175, 365,
Stock, $100,000, acquired in Apr. 1904 by Georgia Sou, A Florida, which
guarantees bonds (see table above), prin. A int.
V. 97, p. 175, 365.
Robert B. Pegram was appointed receiver on July 17 1920.
V. Ill, p. 493.
For year ending June 30 1916, gross, $123,967; net, $14,372; other income,
$4,799; int., taxes, Ac,, $53,206; bal., def., $34,035.
Federal compensa¬
tion, $504.800.—(V. 110, p. 561; V. HI, p. 493.)
HIBERNIA MINE RR.—Owns Rookaway to Hlbernla Mines, N. J..
<72 m., leased to Cent, of N. J. to Oct. 1930 at $6,000 yly.—(V.91,p.l766.)
STOCKS AND BONDS '
KAILWAY
61
Miles
see
notes on page 6]
Date
Par
Amount
Rate
When
Road
RAILROAD COMPANIES
[For abbreviations, &c.,
Bonds
ValtiS
Outstanding
%
Payable
...
Columbus 6c. Hooking Valley first mtge gold ext.xo*
Col A Tol 1st M gold ext 1905 (V81 p 2ll)-Q.xo*
First Consolidated mortgage $20,000,009 gold.-Cex
General Mortgage 150.000,000 .......1
4*
119
121
840
Equip Botes goldSer of 1913 due $100,000 ann
do
do
Ser of 1914 due $80,000 ann..
1875
1899
1.000
Hous & Brazos Valley—1st M (trus Merc Tr Co, St L)
"20
Hous E tk W Texas—1st M gu p A 1 by So Pao.Un.zo*
First mtge $3,009,000 gold not guaranteed
z
1911
1893
1,000
1.000
453
55
1890
1900
1891
94
.
Real estate mortgagee...
„i
Oar trust ser O due $21,000 s-a (V 92, p
1.000
100
1907
$, £ or fr
100 Ac
1911
1025)..Gz
6
Div., 16%
A
5 g
F
F
A
A Feb
F
A
A Feb
text Feb
o
g
paid In
F
A
A Aug
1902-03.
Ac.—Successor Feb. 25 1899, per plan V. 68. p. 231. of
Oolumbus Hooking Valley A Toledo Ry. foreclosed.
The ooal lands aggre¬
gate about 20,975 acres, and are covered by the consolidated mortgage.
HISTORY,
tate
Sartlyanti-trust suit, and 105, p. 997,pledged securities. Decision in Ohio
by direct Hen V. partly by 909, 818.
J '07. *08~'10. *11. H2. '13. '14. *15 '10. '17. *18. '19. '20.
7
7V,
12
7
3
4
54* 4
4,4,
1 3 4$ 4 yrly.
June. 1921 div. was deferred.
V. 112, p. 2190.
LATE DIVS.
Per Cent
Action
—
on
($20,000,000 authorized), besides a Ilea on the
entire property, subject only to $3,842,000 prior tssnds, have a first Hen on
all the ooal lands; $3,842,000 consols are reserved to retire the existing bonds
(the latter may be extended at maturity).
V. 72, p. 338; V. 74, p. 1038'
V. 86, p. 229.
Substantially all of the bonds and stock of the Ohio Land
9c Ry. Co. and the Wellston A Jackson Belt Ry., 18 miles, were deposited
under said mortgage, but see V. 101, p. 370; V. 68, p. 823; V. 102, p. 2167.
The $7,500,000 5-yr. 6% Secured Gold notes or 1919 secured by pledge
of the $9,600,000 new Gen. Mtge. 6s, Series "A," were issued to replace
the $5,000,000 gold notes Issued in 1917 and on account of additions and
Improvements.
V. 108, p. 784.
The Gen. Mtge. of 1919 Is limited to $50,000,000 and It Is also provided
that the outstanding bonds including underlying Issues must not exceed
three times the outstanding capital stock $9,783,000, issued of which
$9,600,000 Series "A" pledged to secure the aforesaid notes; $2,220,000 are
pledged as security for Govt. loan.
Additional bonds within the amount
above stated may be issued hereafter at par, for refunding purposes, for
additions to and betterments of, and for other capital expenditures, and also
to the extent of 80% of the cost thereof for equipment, but with a sinking
fund of 5% p. a. for 20 years In each case upon the amounts issued for equip¬
ment.
V, 108, p. 784.
ft
Kanawha
a
Hocking Coal a Coke and Continental Ooal bonds.
See
V. 109, p. 386, 1527; V. Ill, p. 97, and issue Nov. 1918.
Car trusts Oct.
1920, $620,000.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Govt, loan, V. Ill, p. 792; V. 112, p. 562, 744.
Jan.
EARNINGS.—
1921.
Gross
Net after
$2,536,058
def817,619
taxes
Jan.
1920.
1 -Mar. 31—
1-Dec.ltt
•
1920.
1919.
$3,312,719 $17,145,167 $11,651,516
268,295
613,549
1,343,595
ANNUAL REPORT.—Traffic is mostly freight, and over 70% of this is
bituminous coal.
Average
Report for cal.
Calendar
year
Years—.
revenue
train-load is largo—in 1919, 1,465 tons.
1920, in V. 112,
1920.
p. 2181.
1919.
1917.
1918.
Operatingreyenues.....$17,101,493 $11,654,517 $13,155,861 $10,696,434
Oper. inc. (after taxes)__
Standard
188,799
return
;
War taxes and expenses.
Other income (net),
1,578,891
1,161,828
2,637,167
181,767
34,958
bal.,
Guaranty Trust Co, N Y
Nat Bank, N Y
Chase
do
do
Apr 1 1921 paid 2%
Hud A Man rr Co. NY
Guaranty Trust Co. N Y
$27,594: Interest and charges
expenses
sur.,
HOUSTON & TEXAS CENTRAL RAILROAD.—{See Map of Southern
Hearne, 58 m,; other, 43 m.; Trackage rights over San Antonio & Aransas
Pass, 38 m.; Texas A Pacific Ry., Fort Worth to Dallas, 31 m.
Other
lines, not classified, 24 miles.
Total operated Dec. 31 1919, 857 miles.
Annual compensation under Federal contract, $1,717,506.
STOCK.—Stock, $10,000,000, of which the Southern Pacific Co. owned
$9,998,400 par $100.
V. 76, p. 1084. 1192. 1407.
In 1902-03 6% was
paid out of accum.surp.; In 1910-11,20%; 1912-13. 3%.
V.70, p. 1407.
BONDS.—The 1st M. 5s are being gradually retired at or below 110 with
The first mtge. was for $8,634,000.
See abstract of mtge. in
land sales.
V. 52, p. 242.
With the exception of
ao Interest is paid) deposited with the
$1,149,000 consol. M. 6s (on which
trustee as part security for the gen¬
with proceeds of land sales.
eral 4s. all of the eonsolid. 6s have been retired
The $4,161,000 gen. mtge. 4s were
paid off at maturity on Apr. 1 1921.
112, p. 1519.
Southern Pacific Co. owns $450,000 Lampasas Extension
1st M. 5s, $400,000 Waco A N. W. Div. 6s. the $2,383,000 Cut-Off 6s and
V.
Unsold land grant Dec. 31 1919, 15,808 acres.
$70,000 Gen. 4s.
Jan. l~Mar. 31——
EARNINGS.—
1920.
1921.
Gross
$3,106,842
Net after taxes,144,235
„
-
Jan.
1 -Dec. 31——
1920.
,
$2,791,550 $12,134,259
206,905
142,434
1919.
$9,720,533
1,483,807
For year'1919, standard return, $1,717,505;
other income. $220,500*
deductions, $815,330; net income, $1,122,676.—(V. 112, p. 1519.)
T
HUDSON COMPANIES.—Incorp. Jan. 9 1905 In New York.
Holding
for Hudson A Manhattan RR. Co. (see below).
Owned Dec. 31
$2,307,613 of the $5,242,151 Hudson A Manhattan RR. pref. and
$25,171,209 of the $39,994,890 common stock. V. 106, p. 493.
The stockholders voted Jan. 14 1919 to reduce the capital stock from
company
1920
$21,000,000 to $4,000,000, all the $5,000,000 old common being voluntarily
surrendered and the $16,000,000 preferred being reduced to $4,000,000 by
a change In the par value of single shares from $100 to $25.
V. 108, p 78.
The $1,950,000 6% notes due in 1917 and 1918 were retired as stated in
V. 104, p. 1801, in connection with the transfer of Greeley Square Realty
Co. stock and ref. bonds (V. 104, p. 1800) to the Greeley-Hudson Securities
Corp. (V. 105. p. 1806: V. 108. p. 263.)
j
_
t
j
^
^
fund of the said Securities Corp.
callable at 105) having been disposed of together with
$1,000,000 of the stock, leaving $1,000,000 of the stock in the treasury of
Hudson Companies: this latter block was in 1919 distributed to holders of
the reduced pref. stock of the Hudson Cos. of record March 17. one $100
share to the holders of each 16 shares (par $25) of Hudson Cos.
V. 108.
p. 78. 277: V. 106. p. 493.
REPORT.—Balance sheet as of Sept. 30 1920 in V. Ill, p. 2330.
The whole issue of $2,000,000 6% sinking
due Aug. 1 1931 (but
OFFICERS.—W. G. Oakman. Pres.; Wm. Henry Barnum, V.-P.'A
Treas.; Wm. Everdell, Sec., Ill B'way, N. Y.—(V. Ill, p. 2330.)
HUDSON
HUDSON
BAY
RAILWAY.—(V.
MANHATTAN
&
electric tunnels
693,263
do
Pacific.)—Owns from Houston. Tex., to Denison, Tex., 338 miles; Hempitead, Tex., to Llano, Tex., via Austin, 215 miles: Bremond to Ross, Tex.,
55 m.; Garrett to Ft. Worth, 53 m.; Mexia to Nelleva, 94 m.; Giddlngs to
2,447,845
1,989,404
2,637,167
82,708
77,284
do
do
prior to 1918 (net) $67,127; dividends (6%) $115,200:
$61,798.
For cal. year 1919, standard return, $375,565; other
income, $83,774; deductions, $216,792; net income, $242,548.
For cal
year 1918, gross, $2,087,716; net, after taxes, $434,324.:—(V. 107, p. 171.)
$159,035;
STOCK.—Chesapeake A Ohio Ry. owns $8,825,900 stock.
BONDS.—The consols
to
do
do.:.
30% In 1907-08. 10% In 1909-10, 11% In
1915-16, Incl, 6%; 1917, 6%; 1918. 6%;
1911-12
1912-13,
do
do
1921
Standard return In 1918 $375,565; other income
4%
Y
do
do
11957
See
town
and
do
1 1957
to
N
165 Broadway, New York
1 1932
A Feb
A
Bway,
61
165 Broad way,"New York
11957
6 g
and
Central Union Tr. N. Y
1 1925
HOCKING VALLEY RV.—The company's
main line
Rockwell to Oolumbus, 119.9 miles; Columbus to Athens,
to
\
Old Colony Tr Co. Boston
June 11940
A
4%
858,000
21,000
1,000
extends from
70 m.;
OldPomeroy, 80.7 m.; total main line, 276.6 miles, with trackage
(Toledo Term.
RR.) Toledo to
Walbridee, 3.6 m.; (N. Y. O. R.R.).
Toledo to Rockwell, 2.5 m.; Columbus and Athens, 2.2 rm; total main line
and trackage, 284.9 miles.
Branches,44.1 miles; leasee W. A4J. B. Ry..
Dundas to Jackson, 17.3 m.; Pomeroy Belt Ry., Pomeroy, O,, 3.9 m.; total,
350*2 miles; 2d track, 72.9 m.
Owns part interest In Toledo Terminal RR.
V. 99, p, 1210.
Double tracking, V. 105, p. 1801.
Dec
J
44
37.521.23i
33.102.00$ Up
500 Ac
1924
5 g
A
5 S
A
do
New York
f Commercial Tr Co,Phil,
1923
0?
44
do
do
do
'
Sept 1 1922
July 11937
July 1 1937
May 1 1933
May 1 1933
July 1 1937
May 11930
July 1 1941
A
39,994.890
6,242.151
5,000.000
944,000
100
1,000
1913
1913
A
5 g
5 S
2,383,000
4,000,000
25
1902
A
A
1.920,000
709.000
1 000
1885
1910
To Aug 1
To Feb 1
a
t> a
1,389,000
1,105,000
106
41
1,000
1,000
1,000
m" a"
4,452,000
100
do
do
Aug 11955
July 1 1999
Jan 1 1949
Mar 1 1924
A
44$
368,000
Hous A Tex C RR—1st Mlgrgred 110 Int guCe.zo*Ar
Waco 6c N W Div 1st M g $25,000 p m.._Ce.zo* Ar
Austin 6c N W (merged) 1st M g gu p & 1 Mp.zo*«r
Ft Worth A New Orleans 1st M (Wax to Ft W)...z
Cut-off 1st M $3,000,000 auth (V 94. p 131)..
.
Hudson Cos—Pref stock (now com) text $4,000,00
Hudson & Manhattan (Hudson River Tubes)—
Common stock voting trust certificates
Pref stock 5% non-cumulative voting tr. certs—.
New York & Jersey first mortgage red 110-G.xc*
First mortgage convertible
...G.xc*Ar
First Hen & rerf M $65,000,000 g red 105-Ce xc*Ar*
Adjust inc M $33,574,000 red par cu beg '20 Gxc*Ar.
A
6 g
420,000
2.628,000
1893
24
Payable
See Central of N ew J ersey
11948
Oot
f
Where Interest and
Dividends are
1920
1
.
Dec 311920 2% 61 Broadway, N. Y.
A
A
e J
6 g
5
300.000
2(0,000
216,000
1892
1907
1907
Hoosac Tunnel & Wllmlng—1st M $250,000 g ..-.OBz
Hons Belt ATesr—1st 11 $'.000,000g red 105 textCexc»
Oct
A
Places
and Maturity
F
i '
4H
Dividend
Last
A
4 g
pledged
7,500,000
1.000
1,000
1,000
A
in 1920 J
16,022.000
Ac
1.000
1,000
1.000
1919
1913
1914
x
3
$200,000
11.000.000
1,401.000
2,441.000
500 Ac
1.000
1867
1919
.-EQ
EQzxxxc*
Gold notes call 101 after Mar 1 1921
$100
100
Mlbernia Mine RR—Stock
Hocking Valley Ry—Stock
[Vol. 112.
106, p. 2757.
RR.—Owns
and
1837; V. 109.
operates
p.
172.)
double-tube
opened in 1908 from Sixth Ave. and 33d St., New York
City, under the Hudson River to the D. L. A W, RR. station, Hoboken,
J., and thence southwardly through the Erie and Pennsylvania RR.
City and under the Hudson River to the Hudson Terminal
Buildings on Church St. (one block west of Broadway), extending from
Cortland
to
Fulton
St.
Mileage operated, 8.50 miles.
Also affords
through service between Newark and New York City, using Pennsylvania
RR. tracks from Jersey City to Newark.
V. 90, p. 635,1041.
Eventually
to extend to Grand Central Terminal.
V. 98, p. 1993; V. 110, P. 970.
Owns Hudson Terminal Bldgs.
Fare increases, V. 106, p. 2123, 2757; V.
107, p. 82. 181, 401; V. 110, p. 970, 1526. 1748; V. Ill, p. 294. 792, 1183.
As to projected trolley line connection with Federal Shipbuilding plant,
see V. 106. p. 1461.
N.
Gross corp. Income
Interest on debt
Dividends
i
....
Balance, surplus
$1,767,690
$2,490,359
$2,631,744
$3,141,108
1 207 195
1,577,769
1,460,491
1,271,915
(4 %) 439 ;980(4%)439 ;980(4%)'439 i980(5 4$) 604 !972
def$250.059
$544,220
$831,880
$1,328,940
FEDERAL CONTRACT.—The company's contract with the Govern¬
ment, signed in Dec. 1919, fixes the annual compensation at $2,637,167.
V. 110, p. 261, 871,970.
OFFICERS.—H. E. Huntington, Chairman of Board, New York; W. J.
Harahan, President, Richmond, Va.; C. E. Graham. Senior V.-Pres.. and
F. H. Davis, V.-Pres., N. Y.; G. B. Wall, V.-Pres.; H. T. Wickham, V.-P.
A Gen. Counsel, and F. M. Whitaker, V.-Pres. in charge of traffic, Colum¬
bus,
O.: A.
Trewett,
Sec.-Treas., and A.
O.
Rearick, Counsel, N. Y.,
and F. D. Hodgson, Comp., Columbus, O.—(V. 112, p. 562, 744, 2181.)
HOOSAC TUNNEL & WILMINOTON RR.—See page 140.
P3H0UST0N BELT & TERMINAL RY.—Owns a terminal line in and
around Houston, Tex., 20 miles, with large freight and passenger ter¬
minals.
Controlled by four proprietary roads, viz., Beaumont Sour Lake
9c Western Ry.. Gulr Colo. A Santa Fe (Atchison System). St. Beuis
Brownsville A Mexico Ry. and Trinity A Brazos Valley By., which each
own 25% of the $25,000 stock and, under the terms of an agreement dated
July 1 1907, agree to pay, under a pro rata wheel age basis, operating ex-
fensee, bondson a one-fourthTerminal Co. bonds and annualGulf Colo. of
basis, Int. on has leased from sink, fund A
% of and,
Issued.
The
Santa Fe Ry. for 99 years from July 1 1907 all of its property in Houston,
Tex., and the Terminal Co. has agreed to pay monthly rental and maintain
the property.
HOUSTON
Pres., F. G. Pettibone.—(V. 107,
&
BRAZOS
VALLEY
RR.—See
p.
401, 802.)
page
140.
stations In Jersey
BONDS.—Under the readjustment of Jan.
14 1913 (without fore¬
closure) (V. 96, p. 208) fixed charges were reduced from $3,021,660 to
$1,851,750.
The plan was assented to in 1913 by about 984$% of the
4J$% bonds and 954$% of stock.
Application to list, V. 98. p. 393-8.
First M. $65,000,000 Auth.) issued. 5% call, any int. date at 105 $36,766,134
Reserved (Interest rate not to exceed 5%) for—
(1) Retirement of N. Y. A Jersey RR. 1st 5s car trusts and
real estate mortgages ($1,207,500), not over
$9,536,000
(2)
income of the company is 14* times the interest upon the
new 1st M. bonds, incl. those then about to be issued, say.
|
12.698,696
(3) Extension to Grand Central Station on same conditions.
6,000.000
Adjustment Income Mortgage Bonds—Int. payable out of surplus
Income and cum. from Jan. 1 1920 (V. 96. p. 209), Issued
.33,102,000
Reserved for exchange for remaining 1st M. bonds
472,006
is to be held for 5 years in a voting trust and
the Adjustment bonds shall not have received full 5% Int. for the
The deposited stock
long
so
as
preceding
op
HOUSTON EAST & WEST TEXAS RY.—(See Map of Southern Pacific.)
Owns from Houston, Tex., to Sabine River
at Logansport, 191 miles.
Annual compensation, under Federal contract, $375,566. V. 108,
p.
974.
Stock $1,920,000, of which $1,919,100 owned by So. Pac. Co., which has
guaranteed $2,628 000 of the bonds, prln. and int., by endorsement, re¬
serving the right to call them at 105 A Int.
V. 70, p. 841; V. 71, p. 230.
also for extenprior encumbrances, provided the annual net
Additions, betterments and equipment;
sions free from
to one
the holders shall have the right to nominate or approve
leea than a majority of the board.
Voting trustees: Charles
year,
Francis Adams 2d.. Boston: Felix M. Warburg and Albert H. Wiggin, N.
V. 108. p. 1610, 2241; V. 110, p. 2657.
Y.
INTEREST ON INCOME BONDS.—2% yearly 1913 to Oct. 1916 incl.;
beginning April 1917, none, pending establishment of $1,000,000 reserve
1921 paid 2%.
V. 112, p. 652.
(Coupons due
Apr. 1 1917 to Oct. 1 1920 worthless.
V. 112, p. 1399.)
for contingencies; April 1
MAY, 1921.]
RAILWAY STOCKS AND BONDS
MlNNEftPOtdi
65
cr?sCEau Claire
X
Hastings'
"Traverse
Stevens Pou
ireen
Tracy
City
\/waItonV
ibasha
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Biff
LEAW
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Ctilen
IOUX
Correction
Ma/shalltown]
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Dixon'
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lock Island
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imvra.
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jpyw
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^rwlUfl,
*
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.ST.Ufsfcob City
/
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rTolono
PRINGFIEC
O
'Tuscola
*1—^23./)
'
Si
"Areola,
HanpibaT/
MoberiyjSi^Lo^aial
'Terrev
iAJTOON,
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!oga-i-"&
LFINGH,
fexico
mittWTON
SASXlT
:renc<
fSAAMTJ CY,
tltchell\
igama
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--
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rCuba.
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^
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fprlngfleld
!entral
WlgowSprs.
Monett
Memphis To.
PoplaV Bluff!
Chadwlck
IRiLvmiiQ
[Arlini
^Donlphanp—/<
"FULTON
Wagoner
CLARK6VJ
Martin.
§ J Eureka SprJnj
GUTHR£
GreeiisWu
City
[Nortonville
fcKenzle/H
Cushmftns
AfUatt"'N>
JAOKSON
Buren
*
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8T.
Sparta
Columbia,
—fcftOzaric
'ullahoma
^ Bald Knob/jf
ihomal
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iConway
#Mieh.Cy.
McAlester
^yHolly Sprlnj
LITTLE ROC!
aSTy VKaterford l
i
/SyAbbevhle
Atoka
SyFrlarfc f
'
CtARis,
I
>.«<Oxfora\4' A
.«* V allow
turn
i*&£*>» A
Mfo*tV
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Gaines,
Paris
nildersUurg
\
^ylaciiuga j
-Akron
Jc/
qVAKxabdi
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nJSelma
Corslcana1
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TWnltyi
Flomaton
'nsacola
Brenhai
tempsi
Sabine1
-
Pa^i
x*
Columbia
mxaamsmmiuL/
^z-———'
ILLINOIS
^
CENTRAL
CO
SYSTEM.
Par
Amount
W Hen
Bonds
Value
Outstanding
%
Payable
50
72
500
367.500
1,000
1,000
1.000
1,497,000
1857
1865
1907
1918
72
gold due $34,000 yearly'V g4#p 1424 -X
Equipment trusts due about $16,000 per year.PeP
Illinois Central—Stock $123,552,000
Leased line 4% stock guaranteed (see remarks)
z
First mtge of) Sterling Bond old 6s ext In 1895
t
18 7 4
for Bonds extended In 1905 as $ bonds.
$15,000,000 4s of 1886 due 1951 gold.—zo'Ar
secures a 11 3Hs of 1886 due 1951 gold—zo*Ar
equally _U® 3s of 1895 due 1951 gold—_zo*Ar
(V 83. p 76) 3Hs of 1903 due 1951 gold—o*Ar
Trust bonds sterl. (seo by Cb St L A N O cons) „ Us z
Car trusts
706
111
(V 66, p 1237) g-Us.c*Ar
1st M Otto to Normal Juno A br
zr
bonds gold (see remarks) —Uf.zo*Ar
A S W
Bridge
131
$10.000,000gold — Us.c*Ar
do
$5,000,000 (see V 65. p 1173) g-Us.yo*Ar
Underlying St LI Belleville A Carondelet 1st m.zo*
Dlv
A Terml-)St Louis Southern 1st Mg—Ba.o*
nal mortgage-J Carb A Shaw 1st M gold
c*
Purchased lines 1st M $20,000,000 gold—Us.xc* Ar
Ref M (Nor Lines) $120,000,000 s red-a.xc*Ar*
St Louis Dlv A Term M
239
L
17
30
17
2,187
1904
1908
857
798
218
567
567
100
101 on or aft Jan l'24.Fvvv.c*Ar*
oonsol 5s pledged to secure
Includes $5,266,000
1.000
Illinoi
Ac
500 Ac
1,000
1,000
1,000
A
Jan
Jan
Moh
A
Apr
A
July
A
Jan
A
Baring Brothers, Lot don
32 Nassau St, New Tork
1950
1951
1921
Baring Brothers,
Aug
do
do
do
do
do
4 g
A
Deo
1 1950
A
July
July
1 1951
A
1 1951
do
de
A
June
do
do
4 g
4 g
A
Sept
do
do
A
Moh
11923
1 1931
1 1932
do
do
;
32 Nassau St .. N. Y.
A
July
1 1952
4 g
4 g
M
A
Nov
1 1955
do
A
A
Apr
do
do
4 g
4 g
MAN Nov
F
A
A Aug
1 1952
1 1953
do
do
do
do
3)4 g
1 1951
„
$1 000
3.500.000
23,732.000
5.000,000
3.235.000
&
Dec
A
Dec
1 1963
1 1951
1 1953
4 g
A
July
Aug
A
Jan
&
Jan
do
Jan
do
1 1923
&
do
Baring Bros, Lon A N T
32 Nassau St ..New York
1 1951
1 1951
4 g
16.000.000
Deo
A
3 g
3 g
All owned
A
3)4 g
do
do
1 1963
fig
do
do
J A D 15 Jufce 15 1951
5g
3)4 g J A D 15 June 15 1951
5 g
"I.606
London
do
3 g
6 g
/29,982,360
Ac
do
1951
1951
3Mg
500 Ac
1,000 Ac
1.000
do
do
1 1951
A
do
1951
A
6
£100 Ac
s
Deo
3)4 g
3)4 g
3)4 t
12,000.000
40,740.000
15.000.000
24,929.000
5,425,000
al6,635,000
1.359,000
$500
Apr
A
3)4 g
241.000
1.000 Ac
1.000 Ac
J Jan
A
4 g
3,000,000
8.377.000
4,998.000
470.000
538,000
Co
Philadelphia
1928
l*A% 32NassauSt,N Y A 1 on
do
do
'21 2%
BarlngBros .London ,Eng
1951
32 Nassau St., New * ork
1950
2
A
J
lOthSt
do
Phila Tr,SD & Inv
Jne 1 '21
Q—M
3 g
968.000
500 &c
1.000
1,000
1,000
500
A
O Moh 31 1925
O Oct 1921
3)4 g
1913
1889
1897
1900
1900
1908
1919
640
130
A
4 g
1913
1,512
1,512
A
4
3,000.000
5,266,000
2,000.000
£200
1.000
1.000
1,000
1892
1895
1881
1897
trust
Secured g bds call
$l,000Ac
1888
748
lstLieneqM$30.000,000(le8s$26.613,000 cancel.) Us.x
a
£200
1883
1886
1887
A Feb
To Jan
£500,000
11897
bonds gold $
Us.zc'Ar
Coll trust $25,000,000 gold on LNO A T.Us.zc*Ar
Western lines first mortgage gold
Us.zo'Ar
Ch St L & N O oons M ($18,000,000) g lnt gu.xc* Ar
do
guaranteed principal and Interest
x
Joint 1st Ref M (Southern lines) $120,000,000—
Series A callable 110 after Dec 1 1918—F.y.c*r*
Series B callable at 110 after Dec 1 1918—
Memphis Dlv 1st M gold guar o A 1 (end).Us.zc*
Louisville Dlv & Term M $25,000,000 g—Us.c*Ar
Omaha Dlv 1st M g $5,000,000
U«.xc*Ar
Lftobfleld Dlv 1st M g $4.000,000—
F.xc*
Collateral
1,000
1,000,
1,000
/1897
A
4X e A
9.989.700
2.500,000
1,000,000
1,500,000
2,499,000
£200
Phila office, 39 So
1 1925
F
109 296000 7 in 1920
100
1875
1875
1888
1886
1895
1903
1886
1898
1881
1892
Where Interest and
Dividends are Payable
Feb 15 1921 1)4
text
text
tg
5 g
17,000
90.000
100
Sprtngf Dlv 1st M ref M
Kank
2,000,000 See
72
Places
and Maturity
Jan 28 1904 1%
$1,371,750
$50
72
Huntingdon & Broad Top—Common stock
Preferred stock 7%
non-cumulative
Second M old 7s extended In 1895 p A 1 gold
GPx
Third M oonsol extended In gold In 1895-GP.xc*
Dividend
Last
Dale
Road
6]
Rate
Miles
RAILROAD COMPANIES
[For abbreviations, &c., see notes on page
Cairo
[VOL. 112.
AND BONDS
RAILWAY STOCKS
66
J>ig
do
do
do
do
do
do
1 1934
886.
Cent ral collat eral trust b onds of l
Terminal bonds are for $15,000,000 authorized.
V. 66, p. 138.
See also V. 66, p. 133; V. 71, p. 546.
Terminal mtge. is for $25,000,000; of the bonds
$1,112,000 were reserved to purchase the 46 m. (Cecilia br.) from
A Nashville and to retire the L. A N, bonds thereon.
Chicago St. Louis A
New Orleans took title to the Loulsv. Dlv. and Joined in making mtge.
See
V. 60, p. 136, for abstract; also "Supplement" of Jan. 1899.
V. 65. p 367.
516: V. 66. p. 133; V. 67. p. 581: V. 76. p. 671 V. 97. p. 887. 1024.
Of Purchased Lines 3)4® of 1904 $14,602,000 were Issued on 748 miles of
subsidiary branch lines purchased, of which $2,682,000 were canceled
In Jan. 1911 and Ref. bonds substituted therefor.
There are also $5,338,000 reserved to retire at maturity $968,000 bonds of the Kankakee
A Southwestern lsts due 1921 (see bond table above) and $4,370,000 bonds
of the Chicago Madison A North. (231 m.), which are pledged for the coll. tr.
4s of 1952.
(See V. 71, p. 288: V. 79. p. 1273. 1642 , 2588: V. 81. p. 1105.)
Refunding mtge. gold 4a of 1908 (auth. $120,000,000) are subject to
107H and Int. M. A N. beginning Nov. 1918;
104, p. 863; V. 87. p.
1367. 1420; V. 88, p. 295; Y. 92. p. 261. 527,1636; V. 97, p. 1024; V. 98, p.
1459. 1608; V, 99, p. 1300.
Cover main line, Chicago terminals, so-called
purchased lines, Springfield Div., the St. Louis Div., Ac., a total of
m,, subject to bonds aggregating $61,766,000, incl. $2,500,000 Chic. Hava¬
na A West. 5« and Rantoul RR. 5s pledged under 4s of 1952.
Purposes for Which $79,260,000 Ref. Bonds {Nor.Lines) Unissued
To retire a like amount of prior lien bonds
$59,026,000
The St. Louts Division A
Federal contract signed
V. 109. P. 72.
July 1919 fixing
annual compensation at
$3,003,-
862.
Dec. 31 1919 in V. Ill, p. 892:
1918.
I
1919.
1918.
$5,078,4221 Stand, returnx$3,209,132 $3,150,493
REPORT.—Year ending
1919.
Cal. Year—
$6,130,718
Net,aft.taxes.$2,311,350
Gross revenue
Miscellaneous
Tot. net
$2,154,110Exp.,taxes,Ac
Rentals, &c—
795,179
117,701 Bond interest-
781,739
131,739
Bldgs., net—
income.
Earnings.
$3,597
Fixed
Balance,
Charges.
Net,
after Taxes.
Gross
EARNINGS—
3 Mos. to Mar. 31—
57,413
260,949
2,168,535
$23,562
Surplus
inc.$3,224,827 $3,066,991
Including miscellaneous
x
105,337
271,698
2,168,535
Surplus,
$66,299
$1,010,768
$2,689,725 $1,077,067
1,022,405 def.203,565
818,840
1920
2,178.183
OFFICERS.—Chairman of board, Wilbur C. Fisk; Pres.. Oren Root;
Treas., Wesley 8. Twidely.
New York office, 30 Church St.—(V. Ill,
p. 294, 792, 892, 1183; V. 112, p. 652, 1399, 1977.)
HUDSON
RIVER CONNECTING RR. CORP.—Incorporated in
N. Y. State March 19 1913 to build for the New York Central RR., which
owns the entire $250,000 capital stock, a high-level railroad bridge across
the Hudson River between Castleton and Shodack Landing, about 22 miles
south of Albanv.
The U. S. RR. Administration in May 1918 sanctioned
the expenditure of $2,000,000 on the enterprise.
Bridge case decision,
V. Ill, p. 1566.—(V. Ill, p. 1566.)
1921
—
Abstract of mtge. in
Louisville Division
TOP MT. RR. & COAL CO.—Owns fr;m
Dallas, Pa.. 44 miles; branohes. Ao.. 28 miles.
DEPOSIT OF STOCK.—Over 75% of stock was deposited with
5
trustees (Drexel & Co., Phila., depositary) under agreement limiting the
sale of the stock, the pref. to not less than $50 and the com. to not less
than $25 per share.
In 1918 the trust was extended till April 1 1923.
V. 106, p. 1230; V. 96. p. 420, 1021. 1297. 1488
BONDS, Ac.—Y. 107, p. 1384; V. 105, p. 2542; V. 106, p. 296.
The
$416,000 first mtge. (extended) 4% bonds of 1854, due Sept. 30 1920, were
redeemed on the latter date.
V. Ill, p. 1183.
The bonds were extended
to April 1 1925 at 7% and were taken, it is understood, by bankers and
& BROAD
HUNTINGDON
Huntingdon, Pa., to Mount
Louisville
call at
2,174
WereRes'd.
Additional
DIVS.
the property.
V. Ill, p. 1472.
*02. '03 *04. '05. '06. '07. '08.
'09- '20. '21
00000510000
0
See
5
su
7
*
«
7
«
5*7X7 3*
0
text
15 1921 resumed divs. on pref. stock with payment of 1)4%.
'98. '99. '00. *01.
Preferred
On Feb.
V.
112, p. 257.
Gross.
*1918
*
-
Net.
Int.. Ac.
$341,694
230,032
233,175
ANNUAL EARNINGS.—
1920
*1919
$331,642
199,635
218,337
$137,508
131,756
111,693
Bal.,Sur
$194,134
67,879
106.644
Corporate income.
Federal
Compensation.—$201,694.
Pres. & Gen. Mgr.,
Carl M. Gage, Phila.—(V. 112, p.
61, 257, 652.)
CENTRAL RR.—(See Map.)—ROAD,—Operates from Chi¬
cago, 111., southerly to New Orleans, La., 913 miles, and westerly to Sioux
Oity, la., 509 miles, with numerous branches, viz.:
ILLINOIS
111—„)Ma!n
Eastistem—
Dubuque, Iowa
J
Dubuq. A Sioux City (see above)
Springfield to East St. Louis ...
Peoria, 111., to Evansville, Ind.,
Chicago to Cairo,
Centralla, 111.,
with 6-mile
to
706
Chicago St. L. A N. Q. RR.,
Cairo, 111., to New Orleans...
Line to Louisville, Ao
761
Mem.,Tenn.,toMem.Jct.,Miss
97
St. Louis Alton A Terre Haute.
Entire stk.owned-Br&xiohes.&o
Trackage,
234
branch..
Indianapolis, iDd.. to Effing¬
ham. HI. (V. 93. p. 880)
Miles
Leased—Control owned—
Miles.
Road owned in fee—
Total operated
177
Dec 311919.4,800
V. 105, p. 1899; fare de¬
Proposed new terminal at Chicago, Y. 109. p. 270.
stock of Madison Coal Corp. See
cision, V. 106, p. 296.
CAPITAL STOCK.—The leased line
stock Is secured by deposit
000.000 Ch. St. Louis & New Orl. stock.
V. 65, p. 1071; V. 106.
In Dec. 1919 Union Pacific owned $22,500,000 of the common
of $10.-
p.
395.
stock, in
and $1,936,990 pref. stock of Railroad Securties Co.. the latter company owning the equity in $9,200,000 additional.
LATEi 01 Sept.'04. *05 to *12. '13. *14. '15. *16. 1917. Mar.'18-June *20.
DIVS.J
6 yearly
7 yearly
6
5
5 6)46 & 1 ex 7%p.a.(15* Q.-M)
addition to $3,486,420 com.
BONDS.—Cairo bridge, see adv. in
"Chronicle," May 7 1892.
1886 are secured by deposit of $5,266,000 Chicago St. L.
oonsols of 1881; also by a lien on the road. See V 86. o 1343
Collateral Trust bonds of 1952 cover by pledge of $18,350,000 5% 1st M.
bonds 863 miles of subsidiary lines.
V. 55, p. 550; V. 102, p. 1346.
The $25,000,000 collateral trust bonds of 1953 are secured by pledge of all
the Loulsv. N. O. A Texas (now Yazoo A Mississippi Valley RR.), $16,900,000 1st 4s, except $68,000, and $9,104,000 mtge. incomes.
V. 61, p.112
Chicago St. Louis A New Orleans 5s have their interest guaranteed (by
endorsement) until the principal Is paid.
The 3 Hs of 1897 are guar., prin¬
cipal and Interest, by endorsement—see guaranty. V. 65 n 1071
Western Lines Loan of 1895, see "Supplement" of Jan. 1899.
Total auth.,
$10,000,000; $5,425,000 outstanding and $4,575,000 owned by company
The Trust Bonds of
A New Orleans
n
Dec. 1919.
bearing
1733,1204;
_
Issuable.
Series A and
owned $17,486,700,
Purposes for Which Said $120,000,000 Joint Bonds Were
[Dec. 31 1919 amount issued, $47,469,060 ($46,898,700
$570,360 Series B), of which the Illinois Central RR.
leaving $29,982,360 outstanding in the hands of the public.]
(a) To purchase and improve railroads, terminal
Ac., covered by this mortgage, all
b) To refund or retire a like amount
properties,
sold
of prior mortgages
$33,348,100
50,132,000
36.519.900
of
following
(a)
RR.
$4,550,000
Improvements, construction, etc
The $16,000,000 5)4% Secured Gold Bonds, issued In 1919 on account
Improvements and additions, were secured by pledge of the
securities, having a then market value of about $20,000,000, viz.:
$17,350,000 Illinois Central RR. and Chicago St. Louis A New Orleans
Joint First Ref. Mtge. 5% bonds. Series A, due Dec., 1 1963; (6)
Western Lines 1st M. 4% gold bonds, due Aug. 1 1951. V. 108, p. 578, 2629.
Equipment Trusts.—V. 96, p. 135, 553; V. 102, p. 608, 345; V.
p.
1748, 48; V, 100, p. 1257. Series E Is subject to call, all (but not
on or after Nov. 1
1922 at 102)3 and div.
V. 106. p. 189, 1577, 2123;
Series F, V. Ill, p. 1752; Series G, V. 112, p. 849, 1024.
Loans and bills payable as of Dec. 31 1919, $11,850,000.
For future
e>
99,
part)
Federal
U.
of
S.
Compensation.—Under contract signed June 18 1919 with the
Administration the company receives an annual compensation
RR.
$16,282,374 per annum, or
to this company.
$16,540,717, incl. Ch. Memphis
A Gulf,
Y. 108, p. 2528, 1714.
Compensation
$3,862,317. V. 108. p. 2529. Govt, loan
Bridge, Ac.
Miss. Valley RR.
V. Ill, p. 294. 2228.
Equipment trusts issued to
of Yazoo A
Director-General for rolling stock
See article on page
Jan.
3.
1-Mar. 31
allocated
Jan. 1 -Dec. 31
1921.
1920.
1920.,
1919. „
$35,044,192 $34,411,934$145,154,271$107,886,835
4,880,456
4,090,083
3,328,619
3,737,239
REPORT.—For 1920, in V. 112, p. 1733, showed: Guaranty claim
(6 mos.), $19,499,886; Fed. comp. (2 mos.), $3,399,635; def. from 10 mos.*
operations, $69,748; expenses, war taxes, Ac., $7,313,240; other income,
EARNINGS.—
Net after taxes
$10,225,434; total income, $25,741,967; int., Ac., $12,170,845;
$13,571,122.
REPORT.—Report for 1919 in full in V. Ill, p. 197.
Calendar Years—
1919.
1918.
Accrued standard return
$16,282,373 $16,282,374
Net railway income
*17,615,162 15,4.55,863
Federal income tax
Other income
Deductions
853,200
7,421,549
12,014.592
accruals
-
Sinking fund and other reserves.—_
110, p. 465, 561.
V.
[On Dec. 31
Gross
HISTORY, LEASES, &c.—Chartered on Feb. 10 1851.
The Chi¬
cago St. L. A N. O. Is leased for 400 years from July 11882 at 4% per annum
on Its $10,000,000 capital stock deposited to secure the leased line stock and
Int. on bonds. As to proposed terminal station in Chicago. V. 103, p. 1301.
Owns all the cap. stock ($4,998,500 common and $15,000,000 pref.) of
Central of Ga. Ry. but road Is operated Independently.
See that co. above.
Substantially all of the stock of the Yazoo & Mississippi Valley RR.,
1,382 miles, is owned in the interest of the Illinois Central, the latter also
owning nearly all of the bonds, mostly pledged.
(See below.)
Owns entire stock of Chic. Memp. & Gulf RR., 52 m.: V. 96, p. 420. 716;
also $1,000,000
20,234.000
funding debt, Ao
The Illinois
Dunleith A Dubuque
646
752
98
224
967
238
Ac
track. Improvements,
1919 111. Cent. RR. owned $20,234,000 of these unpledged.
Central and Chic. St. Louis & New Orl. RR. Joint First Re¬
funding M. bonds ($120,000,000 auth. issue) are issuable In series
Interest at not to exceed 5% and are secured on about 1,512 miles of the
Southern lines, including the main line from Cairo, 111., to New Orleans.
La.. Ac., and comprising all the system lines south of the Ohio River except
the Chicago Memphis A Gulf RR., the Monticello Branch (52 m. and 21 m.
respectively) and the Yazoo A Miss. Vail. RR.
V. 97, p. 1822.
V. 98. p. 1459, 1608; V. 99, p. 1300; V. 100, p. 397. 474, 1852; V. 106.
p. 2757: V. 107, p. 696.)
^
institutions interested in
Common
main
Investments in
physical
property—L
Balance, surplus
....
*
Includes 'special compensation"
118,200
170,100
11,880,619
10,782,823
1917.
$22,911,624
1,400,864
4,317,207
10,636,641
118,200
56,934
of $1,614,093 not included in
return."
Calendar Years—
928,723
7,508,053
11,078,491
118,200
55,679
net income,
1917.
1916.
15,016,193
"standard
1915.
$87,144,786 $73,740,266 $63,804,079
$18,606,217 $10,759,239 $11,492,233
Other income
8,009.365 13.015,837
7,679,650
Gross income
$26,615,582 $29,775,070 $19,171,883
Interest on funded debt
$8,477,619 $5,546,266 $5,504,903
Rents, Ac
3,121,770
6,762,391
6,529,815
Dividends
(7 A) 7,923,960 (5)4)6011280 (5)5,464,800
Surplus
—
$7,092,233 $11,455,132 $2,672,365
Yazoo A Miss. Valley Ry.—
1918.
1917.
1916.
Gross earnings
—$22,477,009 $18,152,123 $15,135,123
Net. before taxes
5,745,471
5,681,990
5.650.077
OFFICERS.—Chairman, Chas. A.^Peabody*:Pres., Chas. H. Markhamj
V.-P., F. B. Bowes, M. P. Blauvelt, Archibald S. Baldwin. Albert C. Mann'
Sec., D. R. Burbank; Treas.. R. E. Connolly.
General offices, Chicago.
Total
operating revenue
Net. after taxes
111.; N. Y. office,
26 Liberty St.
SO
m
P
s
o
w
go
M
Q
0
H
0G>
1
3
M
§
a
'■
*
*
'
"
.
.
,,
•
•
•
'' '
"
'•
'
"
[VOL. 112.
RAILWAY STOCKS AND BONDS
68
Date
Par
Amount
Rate
When
Road
6]
Bonds
Value
Outstanding
%
Payable
Illinois Central (Concluded)—
ser^A^| ^OO.OOO ^a call 102 H
Ser G due annually
Chic Ham & W first mortgage
-98
gold aasumed-xo* &r
1,000
1,000
1,000
1.000
950.000
3,575.000
8,107,000
3,564,000
1.000
1,000
1,750.000
1,936,000
1.380,000
5 g
5 g
1.000 &o
2,500,000
4 g
~&o
1.725,000
2,500.000
I g
6
1917
1921
1914
1911
130
1907
1907
1897
46
27~48
500
Common stock (no par
Bank loan replacing
10-yr notes (V. 106,
notes
conv
6H
N Y off or Com Tr,
Phila
N Y office or Un Tr, Pitts
N Y office or Com Tr, Phil
P&A Feb 11926-1934
'21-Dec'24 New York
Dec
&
de
June 1 1951
&
,
July 11957
July 1 1957
Jan
1 1927
&
4
g
705,000
J4 000.000
4,000,000
1
Term N Y
do
do
Comm'I Trust Co. Phila
Grand Cent
do
do
1931
A
Jan
&
P
In default
June 1 1951
&
1,000
1.000
Aug '21-Feb
'26
g M
J
4
May 1 1926
5 g
&
Jan
1 1965
Fidelity Trust Co, Phila
Partners' L & Tr Co. N Y
6 g
P
&
Feb
1 1923
Union
A
&
O Apr
4H
text
45,740.500 See
07,825.000
4H g
200.000
1.000 4o
1916
1,000
35.000 000 See
100
Text
Co,
Pittsb
Apr 1 1918,1H
April 1919 coupon
1 1956
unpaid
X $5,000,000 have b
een
iss ued
as
6
s
and
are
p
on
Trust
demand
19 2H%
Jan 2
text
.1
A
Jan
M
&
Sept 1 1921
ledged ro
r
the
3-y
ear
B'way
New York City
notes d ated Feb
6%
165
office
Treas
1966
5 g
7 g
1,000 Ac 162,106,000
100 Ac
38,144,400
1013
1918
g
t Of which $250,000 are in treasury.
A
4H
1906
call series A & B__xxx.Ba.c*
6-months notes due June 30 1921—see text
Secured
&
O
7
100
Interborough Rapid Transit—Stock $35,000,000—
1st & Ref M $300,000,000 gsredfl 10 (text) G.yc*Ar*
Payable
None 932.627 shrs
.x&rc*
p395(Ba.c*
&
M
354,000
value)
Pref stock (aa to assets) 0% nsn-cumulatlve
Int.-Met coll tr bds g sec by lnt R T stk s f text
J
•
1,000
are
J July'21-Jan '26 Bankers Trust Co, N Y
N Nov *21-Nov'27 New York
O Oct '25-Oct *35
4H
468. ono
1920
'21-Feb '23
'23
'25
P&A Aug '21-Aug
&
O Oct '21-Apr
« A
5 g
7
"T.ooo
1010
Equipment trust certificates $540,000
1921
do
due $35,400 P&A
-O
Indiana Illinois St Iowa—See New York Central BR
& Lou Isvllle
Indianapolis & Louisville—See Chloago Indianapolis
1886
1.79
Indianapolis Un—1st M gold s t not callable—FP.xo*
1015
Gen St Kef M $10,000,000 g gu red text,.. F.<**Ar*
3-year Secured Notes t$4,250,000gcall 101.UPI.xc
Interborough Consolidated Corporation—
4H
Dividends
and Maturity
g P&A Aug
5 g
1920
c»
—
4H
875.000
792.000
1916
102 H beg Dec'19
Illinois Southern—1st M gold $3,000,000—FC.xo*
Income bonds $1,380,000 authorized—
IC.xo*
Illinois Tunnel Co—See Chicago Subway Co
Indiana Decatur & Western—See Cln Ind & Western
Indiana Harbor Belt—GenM$25,000,000 g Q.xo*&r*
do
do
do
$1,600,000
1913
1913
1915
-CP
__
OhStLA N O eq tr ser A g gu rea
due $250,000 seml-ann
x
$1,000
1.000
1,000
Equip eqcerts
(V 97, p 299)
x
Series B g due
Series O g due $99,000s-a redl02Hbeg 1920 -yc*
Series D due $95,000 each J & J; callable 102Hi &
int on or after Jan 1 1921
*
Ser E due $275,000 s-a call '22 102H % gu.CPyc*
Ser P due $737,000 yearly
Where Interest and
Places
Dividend
Last
Miles
RAILROAD COMPANIES
[For abbreviations, &c., see notes on page
1 1920
s
Directors.—Walther G ttgen, John W. Auchincloss, William Averei
Harriman, R. W. Goelet. Cornelius Vanderbilt. J. Ogden Armour, Chas. A.
Peabody, John G. Shedd, R. S. Lovett, H. W. De Forest, D. R. Burbank,
Chas. H. Markbam. and ex-officio, Hon. Frank O. Lowden, Governor of
Illinois.—(V. 112, p. 652, 849, 1024, 1144, 1519, 1733,.1740, 1978.]
ILLINOIS SOUTHERN
RY.—See page 139.
Island;
Stock
5 m;
INDIANA HARBOR BELT RR.—Owns Whiting, Ind., to Blue
111., 14 miles; McOook to Franklin Park, 111., 10.5 m.; Argo to Union
Yards, Chicago, 11 m.; State line to Grassell, Ind., 5.5 m.; branches,
total owned, 45.5 miles; traekage, 71 m.; total, 116 miles.
Federal Compensation.—$296,054 yearly during Federal
tract executed)
control (con¬
outstanding, $5,000,000, of which N. Y. Central and Mich. Central
(V. 106, p. 2018), which guarantee the bonds, own 60% and O. M. A St. P.
and Chic. A Northw., 40%.
V. 93, p. 164; V. 105, p. 2183.
Of the bonds
($25,000,000 auth. issue). $2,500,000 are reserved to retire Chic. Ham. &
W. 6s; $579,000 have been pledged as security for Govt, loan; $2,500,000
bonds out.
V. 86, p. 108.
„
Equipment trusts issued to Director-General for rolling stock allocated
tohis company.
See article on page 3.
Equipment trusts of 1921, V.
Stock
Govt, loan,
promissory notes, Ac., V.
112, p. 744.
Jan. 1 -Mar. 31
_
_
Jan. 1-Dec. 31
1920.
1920.
1919.
$2,121,851 $9,216,137 $6,562,912
defl22,341 ef2152.741 def663,434
INDIANAPOLIS UNION RY—Owns 1.79 m. of road, 1.82 m. 2d main
track and 6.76 m. yard tracks and sidings, with terminals at Indianapolis,
1921.
EARNINGS.—
_
$2,225,663
def51,612
Gross
Net after taxes.
Ind.; leases for 999 years the Belt RR. of Indianapolis—14.18 m.(which see).
Cleve. Cine. Chic. A St. Louis, the Pittsburgh Cincinnati Chicago & St.
Louis
RR.
to Dec. 31
are
1920.
virtual
proprietors, having invested
No stock outstanding.
Elevation of
in it $1,088,646
tracks in progress.
V. 109, p. 676.
1915 will secure not over $10.interest as may be hereafter deter¬
severally, prin. and 'int., by the
companies above named; a sufficient amount is reserved to redeem the
4Hs of 1886, and remainder for future purposes.
$4,000,000 have been
issued as 5s and are outstanding in the hands of the public, and $5,000,000
issued as 6s are pledged for the 3-year 6% notes dated Feb
1 1920. The
guarantor companies and also the Lake Erie & Western RR., Cincinnati
Indianapolis & Western, Chicago Indianapolis & Louisville Ry. and Illinois
Central RR. have contracted to use the property perpetually as their
main passenger terminal, and to pay each its proper and designated
proportion of the interest on present or future values and of any bond
Issued for additions to or improvements of the property.
The bonds are re¬
deemable as a whole or in series 15 years after date, or any Int. day thereaf¬
ter at 103; sink, fund beginning 1926, 1% of outstanding bonds, bondspurchased to be canceled; Farmers' Loan A Tr. Co., N. Y., and Union Trust
Co., Indianapolis, trustees.
V. 100. p. 1257. 555; V. 101, p. 1272.
Three-Year Notes.—The 3-year 6% notes dated Feb. 1 1920 are secured
by pledge of $5,000,000 gen. & ref. 6s, described above.
Callable, all or
part, by lot at 101 and int.
Company will pay the U. S. normal income tax
up to 2%.
Union Trust Co., Pittsburgh, trustee.
Y. 110, p. 167.
Year ended Dec. 31 1920, oper. income, def. $145,577; other income,
$781,123; deductions, $423,105; net income, $212,441.—(V. 110, p. 167;
BONDS.—The General and Ref. M. of
000,000 50-year bonds, to bear rates of
mined, to be guaranteed jointly and
•V. Ill, p. 294.)
V. 109, p. 1273.
(1) Committee for lnterboro.-Metrop. 4H%
is also in receiver's hands.
bonds: Chas. H. Sabin,
Chairman; John A. Griswold, Sec., 140 Broadway. N.
Trust Co., depositary.
V. 108, p. 878, 1165, 1390.
Y. City.
Guaranty
(2) Committee for Pref. and Common stocks: Chairman, Eugene V. R.
Thayer; Sec.^Charles B. Makepeace, 115 Broadway, N. Y., with Mercan¬
tile Trust A Deposit Co., depositary.
V. 108. p. 1275.
Report by Stone & Webster, V. 109, p. 1079, 2356, 2436.
Report to
Legislature, V. 110, p. 971.
Comm. Nixon favors unified control of all
companies, V. Ill, p. 589.
STOCK.—Pref. stock is pref. as to divs. and assets, and while the full
6% is not paid, has double voting rights.
V. 100, p. 1437, 1510, 1751.
BONDS.—The coll. trust 4Hs of 1906 of the Int.-Met. Co. are secured
by pledge of $33,912,800 of the $35,000,000 stock of Interborough Rapid
Transit Co., $1,000 in bonds for $500 stock.
V. 82, p. 280.
A sinking
fund was established in 1910, $300,000 to be appropriated yearly out or
surplus income after interest and taxes to purchase bonds at not over par,
bonds acquired to be kept alive in the sinking fund.
The fund, it is esti¬
mated, will exceed $40,000,000 by 1956.
V. 93, p. 666.
To Nov. 1 1919
there had been purchased for the sinking fund about $3,543,000 (face
value) of the $67,825,000 outstanding 4Hs.
REPORT.—For calendar year 1918, in V. 108, p.
1918.
"1917.
Other int., Ac.
on I. R.
Cal.Years—
372, showed:
T. stock
surp.
1917.
1918.
$115,215
209,922
$4,239,100 $6,782,560 Taxes
300.000
Other income163,076
173,306 Sinking fund.
Pref. divs-(lH)686.108
Divs.
Frank
Hedley;
$38,806
$110,307
229,494
300,000
2,744.430
$519,480
/
V.-Ps.
E. Warren; Sec., H. M. Fisher Treas., J.
N. Y.—(V. 110, p. 77, 167, 764, 1289.)
H.
H.
Vreeland, Oharle
Office, 165 B'way,
H. Campbell.
INTERBOROUGH RAPID TRANSIT CO.—(See Map.)—Incorporated
May 6 1902 in N. Y. Operates municipal tunnel and elevated lines in N.Y.
City; also leases Manhattan (Elevated) Ry., which see.
Mileage in Operation June 30—
Total Single Track-
-Length of Road
25 72
4 49
6 04
4-49
6 04
4.19
5 00
2.31
4.19
5.11
Plains road
White
Jerome Avenue
Seventh Avenue
1919.
1920.
1919.
(Description new lines,V.109,p.1174) 1920.
Original subways, &c
25 72
Queensboro lines
10.53
85.29
28.19
85 29
28 46
10.53
13.80
18.89
13 80
18 89
15 73
15.73
21.15
1.67
3.10
37.67
1.67
21 15
4.67
15.45
130.19
2 81
4.67
9.32
130.30
3 08
.102.73
100-72
336.44
330.42
Lexington Avenue line
Clark Street tunnel
Pelham Bay Park line.
Manhattan (Elevated Ry.)
5.00
2.31
division 37.67
Connecting lines
Tptal (system)—
begun April 15 1918. V. 106
through service on the 8eventb
and via shuttle througn
the Park PL and William St. branch of the line from Chambers St. and
West Broadway to Wall and William streets; also over the 162d St. elevated
road connection between the Ninth Ave. elevated line and the Jerome Ave.
branch of the Lexington Ave. subway as far as 167th St. station on the
Jerome Ave. line.
On July 171918 the Lexington Ave. subway was opened
for business to 138th St. and Jan. 7 1919 to Hunts Point Road.
The Pelham Bay Park line was put into operation on Dec. 20 1920.
V. Ill, p. 2520;
V. 107, p. 2477, 82; V. 106, p. 2752.
The Clark St. tunnel to Brooklyn was
opened in April 1919 V. 107, p. 1005, 2290. On Aug. 23 1920 the co. put
Into operation two new extensions to its lines in Brooklyn—the Eastern
Through service to Woodlawn Cemetery was
p. 1037, 2011.
On July 1 1918 established
Ave. subway between Times Sq. and the Battery,
Nostrand Ave. extension—completing the
principal Brooklyn link of the Interborough System.
V. Ill, p. 895. The
Parkway line extension and the
Ave. extension of the Third Ave. Elevated line was opened for
V. Ill, p. 1369.
Proposed extensions, V. Ill, p. 1369.
Owns stock of N. Y. & Queens County Ry., 73 miles, and (Jointly with
Webster
traffic in Oct. 1920.
Long Island RR.) the N. Y. & L. I. Traction Co.
Ry., total, 68 miles. V. 80, p. 2621; V. 83. p. 818;
"Outside assets" In Dec. 1917. V. 103, p. 2365.
and Long Island Elec.
V. 86, p. 1100.
was signed between
96, p. 62, 359, 1701)
Transit Company, providing for the establishment
of comprehensive dual systems of rapid transit serving all boroughs.
The official statement to the N.Y. Stock Exchange, dated June 30 1913.
NEW
the city
LINES.—On Mar. 19 1913 an agreement
and this company (V. 94. p. 1507, 1565; V.
and the Brooklyn Rapid
was
published in "Chronicle" of Aug. 16 1913. pages
particulars as to new contracts, bonds.
&c.
—
As to aid for contractors
1901, 2346, 2451; V.
776.
74.2
107, p. 2009, 2098, 2290.
Stibway Leases. New and
5o.l
Track
Total
Eiev. Track.
16.9
73.0
75.6
71.5
147.1
131.7
88.4
22o7l~
106, p. 1126, 1344.
Strike, &c., V. 109, p. 676.
Old. to Run 49 Years—Re-Capture.
by the city to the company of the new
1917, but if their completion should
fault of the company, the beginning of the term
Jan.
Track
Subw.
and completion of lines see V.
The lease
from
450 to 455, giving full
See also V. 97, p. 744, 1024,
Lines to be Oper.by Interborough R.T.Co.
Road
{Exclusive ol Manhattan Ry. and Sidings)—Miles.
Company's original lines
25.7
New,to be built Jointly by city and company. 48.5
Total
INTERBOROUGH-CONSOLIDATED CORPORATION.—ORGANI¬
formed under N. Y. laws Juns 2 1915 by
plan in V. 100, p. 1437, 1510, 1751, 1917.
Owns $33,912,800 of the $35,000,000 stock of the Interborough Rapid
Transit Co. and $15,054,600 of the $17,495,060 stock of the New York Rys.
Interborough Rapid Transit Co., subways, &c. (see that co.) —146.26 miles
Elevated (Manhattan Railway, leased)
130 23 miles
Surface lines owned or controlled by Interb. Rap. Tran. Co__14l.07 miles
New York Railways (see V. 108, p. 677) June 30 1918.——.151.02 mile*
RECEIVERSHIP.—James R. Sheffield of N. Y. was made receiver ot
Mar. 21 1919 and trustee on Apr. 25 1919, owing to the default on the bonds
which resulted from the stoppage of dividends on the I. R. T. Co.'s stock
pledged to secure the bond issue.
Y. 108, p. 1165.
New York Railways
ZATION.—A holding company,
Total inc..$4,402,176 $6,955,866
Int.onI-M4Hs$3.052,125 $3,052,125 Balance,
OFFICERS.—Pres.
1
subways is for 49 years
be delayed through no
will be correspondingly
postponed (date now set Jan. 1 1919); subject, however, to the city's right
of recapture after 10 years.
.....
The
leases of the original subways as modified expire contemporane¬
ously with the lease of the new subways, but are not subject to termination
by notice except as portions thereof may be taken
over In substitution
for the 7th Ave. branch or the Lexington Ave. branch of the new sub¬
ways in order to complete a direct longitudinal line, either upon the East
Side or upon the West Side of the city.
As to the old contracts, Nos. 1 and
2, see this Section, issue of Feb. 1913 and V. 96, p. 1701.
The authorizations and licenses for the elevated railway extensioni* and
additional tracks are for 85 years from the beginning of operation, and are
respectively subject to the right of the city to purchase and take the prop¬
erty at any time after 10 years upon payment therefor.
Under the pooling1 agreement with
the city which became effective
Jan. 1 1919, all the receipts of the old and new lines of the Interborough
system, with the exception of the old elevated lines, will be placed in a com¬
mon pool, from which will be deducted taxes, maintenance, operating ex¬
depredation, the company's preferential and interest and sinking
dty's and the company's investments in the new
paid the amount of revenue remaining will be
divided equally between the dty and the company. V. 107, p. 501, 401.
Interest on the securities issued to construct and equip the new lines was
a charge to construction until, and to the extent of, the completion and
commencement of operation of the new lines.
Under its contracts with
the city the company was reported in Jan. 1919 to be entitled to take, on
basis of convertible note issue of 1918, out of the revenues of the Interbor¬
ough Rapid Transit system, an annual sum which, with $500,000 other cor¬
porate income, will provide $17,620,072, as compared with $13,101,255
required for interest and sinking fund on all bonds and notes outstanding
In the hands of the public; but in Jan. 1919 not over $9,700,000 of the sum
last named was expected to be a charge against the earnings of the year
1919, owing to the delay in putting the new lines in operation.
See below
and f. 108, p. 171, 268; V. 107, p. 1100.
penses,
fund
lines.
payments upon the
After these charges are
May, 1921.]
•
KAILWAY
RAILROAD
[For abbreviations,
COMPANIES
&c.t
see
STOCKS AND
Date
notes on page 6]
Pat
Bonds
BONDS
69
Amount
Bate
When
Last
Dividend
Outstanding
Value
%
Payable
and
Maturity
Places
Where Interest and
Dividends
are
Payable
International & Great Northern—
Common stock, see text
Preferred stock (p & d) non-oum (see text)
1st Mtge gold extended 3 yrs at 7% call (text)-«EQ
Colorado Bridge bonds sinking fund (see text)-_Fz
Receiver's ctfs (refunding issue)
$100
100
-
1st Refunding M >50,000,000 gold red 110
Cex
Three-yew 5% secured notes redeemable 101 g.Cex
do
g due >50.000 s-a (V 97. p. 521. 729).-Eqx
Receivers
1,106
1879
500
$1,422,000
3,400,000
11,290.500
Ac
Jan
7
M
&
A
N
1918
1911
1911
equip trust notes $39,000 semi-annually
1.000 Ac
1,000
11,000.000
ig
1913
l.ioe
1.000
1.000
1,000
250.000
5g
&
390,000
6
&
198,000
1,400.000
f 1,108,000
$ £ tr
1916
I"
2 1913 4%
Nov 1 1922
N
M
1880
Equitable
Nov.si 1922
A
OoTNY
Trust
Office. 165 B'way, N Y
Central-Un Tr Oo, N Y
Aug 1914 coup not paid
Aug 1914 coup not paid
MAN Nov 1 1922
A
Aug 1 1941
A Aug 1 1914
A Aug "21-Aug '23 Blair A
Oo. NY
J July '21-Jan '26 First Tr A Sav
Bk. Ohio
&
f Further $12,150,000 non-exchangeable bonds and
$1,600 ,000 ex changeab le bonds pie dged as p art securi
ty for note Issue
The amounts payable to the company out of the revenues of its
subways
(compound interest being allowable on any deficiency in any fiscal year)
to be paid before the city becomes entitled to the interest on its
invest¬
ment under its 1913 subway contract with the
company.
The amounts
payable to the company out of the revenues of its elevated lines (compound
interest being allowable on any deficiency in any fiscal
year) are to be paid
before tne city shares any profit from tne operation of the
elevated lines.
WheD the profits from the operation of the
subway system exceed the
amount of the company's annual prior claim, and after all
accumulated de¬
ductions (with Interest thereon) shall have been made
up to the company
the profits then remaining are to go to the
city until the percentage of the
city's return upon its investment shall equal the percentage ef the return
received by the company; and thereafter excess
profits will be divided
equally between the city and the company.
The profits from the elevated
system and connections, after all the company's accumulations shall have
been made up. are to be divided equally between the
city and the company;
are
REPORT
OF
ENGINEERS DATED NOV.
2070,2167,2356,2436.
Report to Legislature, V. 110.
p.
1
1919.—See V.
109, p.
971.
CONTROL.—In Dec. 1907 $33,912,800 of the $35,000,000 stock had
been exchanged for 200% in 4 *4% collateral trust bonds of the
Interborough
Metropolitan Co. (which
Protective
Committee
William
Ewlng,
V. 109, p. 1461.
DIVS.—
Since
see
for
Sec.,
23
above), secured by the stock exobanged
Bonds
Wall
1907 to 1910.
1906-%
1911.
9 yearly.
Notes.—J. P. Morgan, Chairman;
Deposits not yet (Oct. 1920) asked
1912.
10*4
1913.
15
12
1914 to'17. 191$.
20% yrly.
1919
1$
2>4
In July 1918 reduced div. to
2>4% quar. (10% p. a.) and in Oct. 1919
and Jan. 1919 paid at that rate.
In Feb. 1919 failed to declare any dividend for April 1.
See V. 108, p. 878.
BONDS.—The "First and Refunding Mortgage" of 1913 Is limited to
of which $170,000,000 was underwritten early In 1913
June 1920 $161,504,000 was outstanding and a further
$61,249,000 had
$300,000,000,
In
been
pledged to
the $33,199,000 Three-Year Secured
V. 107. p. 1100.
See full data, V.
secure
7% noteeduein 1921.
Convertible
94, p. 1507, 1565;
V. 96, p. 1228; V. 97, p. 450, 1024; V. 98,
p. 304 , 611,
V. 99.jp. 119:
V. 100.
p. 2080, 1701; V. 104, p. 764.
Offering. V. 101. p. 1972; VJ 102,
p. 437; V. 103. p. 1592, 1888.
Listing, V. 108, p. 2629.
See Gen. Fin¬
ances below.
1157*;
The
new
bonds
became
Nov.
1
1913
a
first lien
on
all leasehold and
other
rights of the company in (a) the existing subways and elevated lines
(including power houses, sub-stations, equipment, real estate,Ac., owned
directly by the Interborough Co. subject to the
city's rights under the lease)
and (b) in the new subway and elevated line extensions and in the author¬
ized additional tracks on the present elevated lines.
Cumulative
fund of not
sinking
less than 1% yearly of amount out
began July 1918, and Is to
retire entire issue.
In
case
after
10
the city shall exercise its right of
re-capture of any of the new
from commencement of operation, the moneys so
years
lines,
payable
will retire all ontet'g bonds issued for
constructing and equipping same.
CONVERTIBLE NOTES.—-Late in 1918 the
company sold $39,400.0(H)
Three-Year Secured Convertible 7% gold notes dated
Sept. 1 1918, due
Sept. 1 1921, but redeemable all or part at the option of
company at 103%
prior to Sept. 1 1919; then at 102% prior to Sept. 1 1920. and then at 101
prior to maturity, in each case plus Interest.
They are secured by pledge
of $61,249,000 First A Ref. M. 5% bonds at a
price of 64%.
The notes
are
convertible at any time before maturity
(provided notice of any election
to convert after
Aug. 1 1921 be given
on or
prior to that date), at option
of holder into the First A Ref, bonds at 87
H % with adjustment of interest.
Sinking fund $615,870 annually.
V. 107. p. 1000.
1284.
1747.
1837.
GENERAL FINANCES.—Tne cost of the
Interborough new subways,
third-tr&cldng, Ac., as originally estimated in 1913,
was paid from the proceeds of First A Ref.
bonds, of which $160,893,000
elevated extensions and
in the hands
of the public.
Largely as a consequence of the war, the
completing the Interborough new rapid transit system was approxi¬
mately $37,640,000 more than the original estimates made in 1913.
The proceeds of the note issue of 1918 was
expected to complete the
company's contribution to the cost of the Interborough new rapid transit
system, while the city in Sept. 1918 had yet to provide about $40,000,000
to complete its contribution.
V. 107, p. 1100, 1284.
The city administration declined in
1919
to
consider an
increase of
are
cost of
fare (from 5 cts. to 8 cts.) in spite of
strong arguments.
V. 108. p. 78, 171.
company's application for increased fares was withdrawn in Mar
1920.
The
V. 110, p. 1188.
The company stopped dividend payments early in 1919
and this precipitated a receivership for the
holding company, the Inter¬
borough Consolidated Corporation, which see above.
The Jan. 1920 charges, aggregating
$5,117,644, were met with the help
of loans from allied Interests in the form of $2,900,000 6-months
7% secured
notes, due June 30 1920 (extended to Dec. 31 1920 and again to June 30
1921).
V. 110, p. 658. 167, 78; V. 112. p. 61.
Sale of real estate, V. 110, p. 261, 658, 2292.
Official
property
Rejoinder to Mayor's suggestion
V. 110, p. 1187.
that
company
"turn back"
to city.
*Net
Income.
1920-21__$41,189,135 $11,949,054
$472,882 $15,982,076
def.$3,560,141
1919-20.- 37,989.848
12.527.350
422.849
14,944.978
def. 1,994,780
*
Exclusive of accruals under provisions of Contract No, 3.
REPORT.—Year ending June 30 1920, V. Ill, p. 1076:
(See also Int
Cons
Co. above)
Miles of track June 30Gross operating revenue
Operating
expenses
Taxes
Operating
31,695.209
2,623,411
income
$43,207,210 $40,497,728
26,233,326
3,134.157
$21,947,099
$2,428,488
7,410,893
1,843,018
1,627,360
878,150
4,200,000
1,616,087
$2,413,638
6,801,795
1,552,586
1,627,360
801,074
4,200,000
860,915
1,750,000
(5%)
I. R. T. Co. dividends
Percent)
(0)
"
30
1917-18.
593,600
2.508,508
$20,727,916
$2,384,538
4,327,177
438,821
1,627,360
578,753
4,200,000
6,125,000
(17 *4%)
surplus
$5,997,724
$1,939,730
$1,046,267
*
Credits accrued to the company under contract No. 3 and related cer¬
tificates which are payable to the
company from future earnings before
the city participates, see V. 107.
p. 1384; V. 109. p. 1175.
Passengers Carried and Cross Revenues {in Millions), June 30 Years.
'09. '10. '11. '12. '13. *14. '15.
*16.
'17.
'18.
1919.
1920.
Passengers 514 562 578 607 634 651 647 684 763 771
809
955
Gross
$26 $28 $29 $31 $32 $33 $33
$36
$40
$40*4 $43
$51
DIRECTORS.—August Belmont (Chairman), W. Leon Pepperman,
Guy E. Tripp, Harvey D. Gibson, C. E. Dunlap, Cornelius Vanderbilt,
Edward J. Berwind, fl. M. Fisher, F.ide O. Sullivan,
Morgan Belmont,
Frank Hedley, Mortimer N. Buckner,' New
York; T. De Witt Cuyler,
Philadelphia.
Pres. A Gen. Mgr., Frank Hedley; Sec., H. M. Fisher;
Treas., John H. Campbell.
Office, 165 B'way, N. Y.—(V. Ill, p. 74,
792, 895, 1076, 1083, 1278, 1369, 1566, 2140, 2324, 2520; V. 112, p. 61,469,
1283, 1519.)
INTERNATIONAL & OREAT NORTHERN RY.—{See Map Missour
Pacif
cific.)—Total system ■
Dec, 31 1919, 1,169 miles, viz.:
Lines owned—
Miles.
Lines owned concl.)—
Miles.
Long View Jet., Tex., to Houston 232 Magnolia Park Terminal...
10
_
.
Palestine to Laredo
413
Spring to Ft. Worth, T.AP.Oonn.272
Houston to East Columbia brch.
50
ORGANIZATION.—Incorporated
,
Sundry
branches
129
Joint Trackage—
Miles.
Galv. Houston A Henderson etc. 54
in
Texas
on
Aug
10
1911
and
succeeded the Int. A Great Nor. RR. foreclosed June 13
V. 92, p. 1310.
The I. A G. N. Holding
1911. per plan In
Corporation was incorporated In
Virginia in Nov. 1911 with $0,500,000 capital stock, and owns the common
stock of the railway.
See V. 93,
Suit against Pierce Oil Corp., V.
p.
p.
p. 1752.
Receivership.—In 1914 receivers were appointed, both the
principal and
interest of the $11,000,000 3-year notes being in default.
V. 99, p. 467,
406, 342.
Receiver Is James A. Baker. Houston: Thorn well Fay, Assistant.
The $1,400,000 6% one-year receiver's certificates, due Nov. 1 If
18. were
reissued and sold to the Director-General of
Railroads, bearing 6% in¬
terest (M. A N.) at Central Union Trust
Oo. of N. Y.—V. 105,p. 2272;
V.
102, p. 1623; V. 100. p. 1510, 1592.
Protective Committee for Cold Notes.—Alexander J. Hemphill, Chairman;
Wm. O. Cox. Secretary; Guaranty Trust Co., N. Y..
depositary. 90% has
been deposited. V. 99. p. 342. 406, 467. 538. 894, 1800, 1461
STOCK.—Of the com. stock, $1,422,000 had been Issued Dec. 31, 1919
the remaining $5,078,000 being held for
exchange for a like amount of con¬
ditional interim certificates, if issued under agreement dated Nov. 1911.
BONDS.—Of the new 1st Ref. M. 30-jr. 5s ($50,000,000 auth.;,$ 12,160.000 have been pledged as security for the 5% notes due Aug. 1 1914 and $1,600,000 sold for oash to the syndicate and by It deposited as further security
for said notes (see above).
Compare V. 94, p. 360: V. 96, p. 653; V. 99,
p. 269.
The secured notes through their collateral cover the entire prop¬
erty at (Including underlying bonds) about $20,500 per mile.
V 94. p 350.
By order of the U. S. District Court, the receiver In Oct. 1919 arranged
for the extension of the First
Mtge. 6% bonds, due Nov. 1 1919, until
Nov. 1 1922, on the following main terms*
(1) Coupon maturing Nov. 1 1919,
to be paid to the holders of bonds assenting to the extension; (2) interest
(M. AN.), during period of extension to be paid on the assented bonds at
rate of 7% p. a.; (3) the assented bonds to be redeemable at any time in
whole only on 30 days' notice if during the first year, at 101 *4 and
int.,
the second year at 100?4 and
int., the first six months of the third year at
100*4 aud int.
Assenting holders were requested to present bonds to the
Equitable Trust Co., N. Y., trustee.
V. 109, p. 1610.
"
Equipment bonds, V. 97, p. 521, 729.
The Colorado Bridge 7% bonds due May 1 1920 were extended to Nov.l
1922 at 7*4%.
Federal Compensation, $1,596,945 (contract signed).
Government loan, V. 112, p. 932.
Jan. 1 -Mar. 31
Jan. 1 -Dec. 31
^p. 1386; V. 95,
176. V. 92,
1310.
.
,
„
EARNINGS.—
Gross
def 142,448
^
$4,657,355
Net after taxes
„
.
1921.
REPORT.—Report for
Calendar Years—
Gross earnings
Net, after taxes
xStandard return
Other income
1919.
$4,324,800 $19,998,851 $14,410,300
171,168def1,099,952
1919 in V. 110, p. 2654, showed:
1919.
def*224,333
1917.
1918.
$14,410,300 $13,476,888 $12,588,224 $10,766,945
defl ,099,953
3,577,367
2,559,440
1,440,353
1,394,946
1,394.946
646.627
8.367
3,417
1,058.815
-
-
—
Gross income
$1,403,313
Rents, Ac
(
Interest
\
deductions
year
1920.
1920.
1,742,737
$1,398,363
1,763,198/
I
$4,636,182
1.381.711
a
1,557.332
$3,206,067
1,139.136
al .502,891
Balance.surplus
Years ending June 30
1918-19.
1917-18
336 44
330 42
276 49
1919-20.
$51,478,411
---$26,001,720
Sinking fund, First & Ref. 5s
Int. on Manhattan Ry. 5s
Other interest, Ac
Guar. div. Manhattan Ry. stock
Int. on 3-year notes
Balance,
June
1918-19.
607,302
7.500,070
;
Total-.
Int. and sinking fund city bonds
Int. on First & Ref. 5s
ending
608,369
8,233,560
♦Credits, contract No. 3
—
EARNINGS.—Nine months ended March 31:
Cross
Oper.
Other
Oper. Rev.
Income.
Income.
Deductions.
Years
1919-20.
,
...
and
St.
..
Other income
19,133,336
3.758.583
$17,159,791 $13,839,727 $17,625,808
def.$339,424 def$364,835
$1,697,139
$564,040
Certified by I.-S. O. Com., but contract not yet signed.
Includes the unpaid annual Interest $550,000 and $55,400 respectively,
on the 3-year 5% gold notes and First Ref. Mtge. 5s. and also the (unpaid)
annual Interest. In 1917 $95,619. on the accumulations of overdue intereet
(amounting Dec 31 1917 to $2,545,708) on these issues, making the tofcal
x
m
unpaid int. eo included, $701,019.
Total matured Int. unpaid Dec. 31
X9.19 S3 866 117*
Receiver, James A. Baker. Office, Palestine, Tex.—(V. 112, p. 469, 932.)
Miles
6]
[For abbreviations, dec., see notes on page
international Rys of Cent Amor—Ordinary
Preferred stock 5% and par tic see text,
Dividend
Bonds
snares..
74
Central 1st M g ext 15 yrs tol931 USmz
Rys (1st M on 104 miles; 2d on bal.) Eqx
Stock
Stook
£100
120 cum—1911 ----since 1914
interstate RR (of Va)—Equip trust ser A due
$37,000 or $38,000 yearly
PHP
Equip tr ser B due $75,000 yrly call 101—
PhP
Iowa Central—Bee Minneapolis A St Louis
7% "B" subj to call
£100
£100
31
gold u
Mp.xc*
A 1 (end) $3,500,000. USc* Cent*]
New York
96
Ry., name being
79. P- 902, 903)
$2,909,614; net,
discounts, &c.,
York, President; Henry M. Keith,
Edward S. Hyde, Sec. & Treas.; H. H. Hanson, Compt.
1273.)
INTEROCEANIC RY. OF MEXICO. LTD.—See page
139.
TERMINAL RY.—Owns union passenger depots,
6 locomotives, Ac., at Jacksonville, Fla., lnoludlng 31.16 miles of track
used hy Atl. Coast Line RR., Seaboard
Air Line, Florida East Coast
Ry.. Southern Ry. and Georgia Sou. A Florida Ry., which own entire
stock
($375,200).
The Atlantic Coast Line, Seaboard Air Line and
Florida East Coast each guarantee \i, and the Southern Ry. and Ga. So. A
Fla. each *4 of the int. under the rentals and meet expenses on wheelage
basis, the Atl. Ooast Line, Seaboard Air Line and Fla. East Coast Ry. guar¬
anteeing by endorsement the Drin. and int. of the 1st Mtge. bonds ana also
bonds of 1917 below described.
The 1st A Gen. Mtge., dated Jan. 1 1917, authorizes the issuance of
$3,500,000 of bonds, $500,000 to be used to retire the 1st mtge. bonds,
balance for constructin of new stations, Ac.
$2,600,000 total issue to
Dec. 31 1919, of which $500,000 are held by the trustees.
As to guaranty,
see above.—(V. 112, p. 1399.)
the
Carbondale, Pa., 37 miles
Hawley, Pa., to Honesdale, Pa., 8 miles.
Leased
perpetuity for $154,940 per annum to Erie RR., owner of ($2,095.700) stock.
Used by D. A H. to reach Carbondale.
The $2,800,000 6%
bonds due in 1919 were extended 10 years at 5*4%. Bee V. 108, p. 1165.
In
& EASTERN RR.—See page 140.
LAKE CITY
JOPLIN UNION DEPOT CO.—Owns union freight and passenger station
cm 26 aores at Joplin, Mo., completed in 1911, used by the AtohisonTopeka
A Santa Fe, Kansas City Southern, Missouri Kansas A Texas and Missouri
A
North
Arkansas,
whloh Jointly own
the $40,000 stock and Jointly
the bonds, prln. and Int.
Of the bonds ($750,000
,
and severally guarantee
auth.), $650,000 sold.
627; V. 107,
p. 802.)
Total stock
KANAWHA BRIDGE &
502,
auth., $750,000.—(V. 90, p.
TERMINAL CO.—Owns bridge across the Great
W. Va., used for railway, street railway
Ches. A Ohio, which op¬
Kanawha River near Charleston,
and general traffic.
Stock, $400,000, owned by
erates property.
Bonds, see table and V. 91,
1629.
p.
N. Y. Central R.R.)—
176 miles, less 18 miles,
KANAWHA & MICHIGAN
RY.—[See Map
Owns Corning. O., to Gauley, on Ohes. A Ohio,
Pomeroy to
Galllpolls, and 1 mile, Athena to Armitaga, where Hocking
Also owns branch of 11 miles leased to ZanesIn 1917 arranged to loan $300,000 to Gauley A East¬
In 1918 built from Gauley Bridge. W. Va.. to
Belva, 5.o0miles,
v. 106,p. 2221; V. 105, p. 1522.
During 1919acquired
4.001 shares each of the preferred and the common stock of the New Gauley
Valley Ry. tracks are used.
vtlle A Western
ern
Ry.
Ry. (a subsidiary).
V. Ill, p. 1469.
To Dec. 31 1917 had purchased
Coal Corp.
$1,349,200 of tile $1,359.600 capital stock
1916 had agreed to assume the $1,477,000 bonds and car trust
ctfs. of Kan. A W. Va. RR. (entire capital stock owned), a line extending
from Charleston, W. Va., to Blakely. 33 m., with branch, 4 m.
V. 106.
and in Oct.
p.
2221; V. 103, p. 844; V. 104. p.
2005.
(additional), $45,260.
Govt, loan, promissory note, Ac., V. Ill, p. 2520; V. 112, p. 162.
DIVIDENDS—
1911.
6*4
1912.
5
1913.
6
Equipment trusts issued to Director-General
to this company.
See article on page 3.
Net after taxes
1921.
$993,234
def338,682
1914 to Dec. 31 1920)
5 p. a.(l *4 Q.-M. 31
for rolling stock allocated
Jan. 1 -Mar. 31
EARNINGS.—
Gross
A
J July 1 1967
J
&
A
J July *27-Jan
1 1929
5 g
Y
Y
'29 Fidelity Trust Co, Phlla
Erie
RR.
New
York
Louis
A Ins Oo
Merc Trust Co, St
Phil Tr, S Dep
5g
J
A
J July 1 1955
Soranton
(Pa)
Trust Oo
REPORT.—Report for year ending Dec. 31 1919 in V. Ill, p. 1469.
Year—
Gross.
Net.
Gross Inc. Int.. &c. Divs.(5%) Balance.
$4,324,755
$8,258*11,477.468 $472,997 $450,000 $554,470
1918
5,896.134
1,461,081 *1,346,769
441,551
450,000 455,217
1917
3.606.991
852.466
1,533.740
592.988 450.000 708.777
*
Including $1,301,942 in 1919 and $1,295,141 in 1918 accrued compensa¬
1919
tion.
Pres., Alfred H.
Smith.—(V. Ill, p. 1469, 2140, 2520; V.
112, p. 162.)
CITY
CLINTON
& SPRINGFIELD RY.—Owns from
to Ash Grove
Mo. 154 miles; Raymore Jet. to Pleasant
Hill. Mo.. 8 m.; total, 162 miles. V. 107, p. 2476. Stock, $1,775,400.
Bonds were guaranteed by the Kan. City Ft. Scott A Mem. RR. (old co.)
The interest that accumulated during the St. Louis A San Francisco re¬
ceivership was ail paid up In Dec. 1916 and coupons regularly met since
that time.
See K. O. Ft. Scott A Memphis Ry. below.
Year end. June 30
1916, gross, $349,940; net, $22,931; other income, $3,799; int. on bonds,
$163,700; taxes, $22,000; bal., def., $162,237.
For cal. year 1917, gross,
$355,008; net, after taxes. $15,397.
Pres., H. B. McDaniel; Sec., S. E.
Trimble; Treas., R. F. McGlothlam.—(V. 108, p. 1273.)
KANSAS
Olathe
Kan.
RY.—Operates Kansas
925 miles. Also has a
Memphis A Birm. RR.
owning line from Memphis. Tenn.. to Birmingham, Ala., with branch. 290
miles, and of Kansas City A Memphis Ry. A Bridge Co., owning bridge
across Mississippi River at Memphis, 3 miles.
Total, 1.216 miles.
Ths K. O. Memphis A Birmingham was leased Dec. 17 1903 for 99 years
from Jan. 1 1904. but terminable upon 6 months' notice from either party;
rental is net earnings, after payment of Interest on bonds, taxes, organiza¬
tion expenses and cost of additions and betterments.
This superseded the
old traffic contract.
Kansas City Fort Scott A Memphis Ry. owns entire
KANSAS
CITY
FORT SCOTT & MEMPHIS
Mo., to Memphis, Tenn.. and branches,
controlling interest in stock of the Kansas City
City
ORGANIZATION.—V. 72. p. 1237.
See V. 72. p. 438, 532. 675 , 988.
Fran. RR. owned the entire stock and leased the road.iguarbonds of 1901, prln. and Int., and 4% on pref. stock trust certs.
The reorganization by which the St. Louis-San Francisco Ry. Co. was
formed (V. 102, p. 896) left undisturbed the lease and outstanding bonds
of this system.
Provisions in the new Frisco mortgages allow that company
to make improvements, extensions, Ac., on the Kansas City Fort
Scott
A Memphis Railway system and bay equipment and deal with
obliga¬
tions of the system, and for these purposes to Issue and renew bonds
un¬
der any existing mortgage of this system, and to issue
new bonds of this
company, or of the new Frisco Company, secured on this system, or
any
anteHng the
Rart of the new Frisco mortgages on this lease of this
thereof, in priority to the existing system, but
en
system and toprior
the aggregate any
this system must not at any time exceed $75,000,000.
authorized. $45,000,000; outstanding, $16,660,000
all owned by St. Louis-San Francisco Ry. and pledged under its mortgage
of 1916 along with $9,687,300 of the pref. stock.
The remainder or the*
115.000.000 pref. shares (par $100) is deposited In escrow, and against,
It are outstanding trust certificates of the old St. L. A San F. RR., the
latter having reserved the option to retire the certificates at any time at par,
and obligating Itself to pay off the whole issue In 20 years from date (Oct.
1901), and meanwhile to pay quar. 1% thereon (V. 72. p. 1238).
In the
Frisco reorganization in 1916 the holders of $9,687,300 of the trust certifi¬
cates (original Issue $15,000,000) surrendered the same In exchange for
75% In the Prior Lien Series A 4% bonds and 25% in the Cum. Adjust.
6% bonds of the new St. Louis-San Francisco Ry.
(See V. 103, p. 897.)
BONDS.—Of the Ref. bonds of 1901 ($60,000,000). $25,835,000 were out¬
standing Dec.31 '18, $106,000 were in treasury, $26,324,270 were reserved
for exchange against ths face amount of underlying bonds and remaining
$7,734,730, as well as any bonds not used or required for refunding purposes,
are
reserved for issue for additional lines and extensions, at not exceeding
$22,500 per mile thereof. As to guaranty, see "organization," above.
V. 75, p. 853.
See V. 87. p. 414; V. 91. p. 38. 154; V. 92, p. 1311; V. 93
p. 45; V. 94. p. 279.
In 1918 the K. 0. Ft. Scott A Mem. Ry. had guaranteed the Int. on all
except
$293,500 of the $6,322,780 K.G.Mem. A Birm tnoome bonds.
OnMay 20 1918 holders of these unguaranteed incomes received on account
of coupon due Sept. 1 1916 1.198% and on coupon due Sept. 1 1917 5%.
V. 106, p. 2229.
V. 74, p. 477, 577; V. 103. p. 2340.
As to K. O. Mem.
Ry. A Bridge, see V. 78. p. 1549; V. 99, p. 1597; V. 102, p. 800.
mtge. debt on
STOCK.—Common,
Birmingham Belt bonds are
Kansas City
guaranteed, principal and Interest, Jointly by
San Fran.
V. 75, p. 1147.
Memphis A Birm. and St. L. A
(THE)
KANSAS CITY MEXICO & ORIENT
Owned Unci. K. C. M. A O. Ry. of Texas, 478 m..
RR.—Road.
Securities Owned), Miles.
Louis A San
Kan., to Alpine, Tex. (except trackage St.
Francisco RR., Foley to Ewlng, Okla., 12.73 miles
Wlohlta,
Marquez, Mex., to Tobalaopa—
Minaca to Sanchez. Mex. (74.28
62.23 miles).
Moohls. Mex.. to Mochis Junction.
1920.
$1,072,352
def98,295
Jan. 1 -Dec. 31
1920.
$5,417,655
def286,636
1919.
$4,324,755
8,257
737.95
m.); El Fuerte to Topolobampo,
Mex
ORGANIZATION.—In April 1917 W. T. Kemper of Kansas
Ac.—Reorg. In April 1890 of K. A O. Ry. foreclosed (see
V. 50, p. 451,483).
Toledo A Ohio Central Ry. (V. 100, p. 1251) acquired
In 1915 $8,947,800 of the $9,000,000 oapital stock.
V. 105. p. 818, 998
V. 99. p. 1052; V. 98. p. 912. 1537; V. 96. p. 63.
Annual compensation under Govt, operation, $1,295,141; Kan. A W. Va.
HISTORY.
Percent
J
do
Guaranty Tr Co, N
U S Mtge A Tr Co, N
The St.L. A San
JACKSONVILLE
JONESBORO
J July 1 1939
capital stock (V. 103, p. 2340.)
139.
JEFFERSON RR.—Owns Lanesboro, Pa., to
A
1.477,000
OFFICERS.—Minor C. Keitjh, New
double track; branch. West
J
1 '22 to *27
1.000
REPORT.—Report for cal. year 1919 showed: Gross,
taxes, $925,912; other
income, $39,246; interest,
$622,313; balance, surplus, $342,846.
INTERSTATE RR. (OF VA.)—See page
O Apr
1905
Jan. 31 1917.
17 Battery Place—(V. Ill, p.
J Jan
A
88
1912 (£4.500,000 auth. Issue, which
may be increased to £6,000,000) see V. 94, p. 1449; V. 96, p. 1488.
The $3,500,000 bonds Issued by the International Rys. covering all lines
as a second lien bore Interest at 2% the first year, 3% the 2d year. 4% the
3d year and 5% thereafter; $239,000 purchased and in treas. Dec. 31 1919.
The $2,500,000 Guatemala Central 1st M. 6s due Apr. 1 1916 were ex¬
tended till 1931; $181,000 purch. and In treas. Dec. 31 1919.
N. Y., V.-Pres.;
A
A
O Apr
4
See text
1922 to'23 Philadelphia
J
A
5g
5g
London
See text
Dec 31 *20
1*4 J. P. Morgan A Co. N Y
Quar.
9.000,000 5 in 1920
Central Trust Co, N
Y
A
A
O Apr 1 1990
4 g
2.469,000
J P Morgan A Co, N Y
A
J July 1 1927
5 g
2.500,000
Y
A
J July'21-July '22 Union Trust Oo, N
4*4 g
180,000
do
do
A
J July'21-July *24
4*4 g
420,000
BONDS.—For 60-year gold 5s of
N. Y. office,
iH
1,000
1,000
1,000
$30,000,000
oommon and $10,000,000 5% pref.; par $100.
Pref. Is entitled to share
equally In all dividends paid In any year after 5% has been paid on both
stocks.
V. 95, p. 544.
First quar. div. on pref., 1 *4%, paid Aug. 15 1912;
Nov. 15, 1*4%; 1913, 5%; 1914, Feb.. May A Aug. 16. 1 *4%.
On Feb. 15
1917 provision was made for the payment of all dividends due to that date
(12*4%) with $1,250,000 6% div. notes due Feb. 15 1927.
V. 107, p. 398.
after
'11- '12 Sept 15 1950
M AN30 Nov 36 1950
11984
J & D 15 Jan
1890
1907
1912
1914
For concessions and subsidy, see issue for Feb. 1918.
Stock authorized, as increased from $7,500,000 in April 1912,
pref. stock unpaid since
USc S15 Sept 15
7
MAS Sept 1 1925
4*4 g MAN May 1 1940
taken over.
on
See text
1950
4
300,000
2,800,000
724,000
650,000
100
1415.
Incorporated in New Jersey June 8 1904 as Guatemala
changed In April 1912 and Guatemala Central RR. (V.
Dividends
do
do
1 1972
EmpireTrCo.NY.Lon. Ac
May 1 1972
Dec 19 1913 4% London
do
do
Nov 141912 2%
ig
565.285 miles of 3-ft. gauge railway; main line and
be built from Zacapa in Guatemala to Santa Ana in
p.
Jan
Sc
2,100.000
CENTRAL AMERICA.—Owns
branches. New line to
San Salvador, V. 110,
INTERNATIONAL RAILWAYS OF
Sc
5 g
Seetext
See text
164
c*
M g see text
City Belt—See Kan City Terminal Ry
Aug 15 '14 1H%
Office, 17 Battery PI. NY
Feb 15 1927
Office. 17 Battery PI. NY
Apr 1 1931
500.000
1,000
1,000
1.000
1910
(Philadelphia)—See Pennsylvania RR
Kanawha & Mich—Stock $10,000,000
-----1st M $15,000 per mile g guar p A I
Ce.xo*
Second mtge $2,500,000 auth gold red par._ Qxo*
• jtlpment g $60,000 s-aredpar (V.94, p. 1695) Un--X
do
g $60,000 »-a red par (V 99. p 342)..Un
Controlled Company—
Went Va—First
&
1,000
1905
Junction
Kanawha Sc
2
Sc
1,000
1867
1889
8
Payable
6 g
to 5
RR
37
are
6
1,000
1894
1917
Dividends
Bee text
75,000
450,000
1913
1917
Jefferson—1st A 2d Ms ext In *87 A *89 (H'dale Br). ,c
1st M g ext 1908 & again 1919 red 105 gu p A IFP.o*
Jonesboro Lake City & Eastern—1st M $1,000,000 _x
Joplin Union Sta—1st M gu J'tly red 105 aft 5 yrsxc*
Kansas
10.000,000
1,245,850
2.319.0U0
3,261,000
£1,000,000
£1.400,000
£1,000.000
£1.150,000
£1.700,000
£469,459
£1,300,00
£400.000
Wnere Interest ano
Places
Maturity
Stock
Second debenture stock red at 105 since
Mex E <teb stook f 150.000 guar red 105
Franklin & Clearfield—See
Dividend
and
£, tr.
Ordinary stock
Jamestown
Last
Payable
1,000
1,000
Sec
1886
1912
1912
102 H
Em.x
foteroceanic Ry of Mex—1st pref stk, 5% non-eum..
Second preferred stock 4% (V 87, p 1160) non-cum
4% debenture stook subj to oall at oar £1.150,000
Jacksonville Term—1st M
1st A Gen M gold gu p
When
%
100
—--
Debenture stock
note
1917
notes
mtg g red
First
Value
$100 $30,000,000
Guatemala
Internet
H irmu m
outstanding
Pat
Date
Road
RAILROAD COMPANIES
[VOL. 112.
BONDS
RAILWAY STOCKS AND
70
86.77
136.51
2.92
City was
appointed receiver. V. 104, p. 1591; V. 103, p. 1508. 1301; V. 99, p. 119;
v. 98, p. 1920.
In August 1918 the U. S. RR. Ad ninistration was operat¬
ing the American lines and W. T. Kemper and 8. W. Rider as receivers were
operating (in part intermittently) the 230 miles of road in Mexico.
Federal Compensation.—$150,000 yrly. during Fed. control. V.108,p.1610.
Government loan approved, V. Ill, p. 1566.
To build in Mexdo,
p. Ill, p. 1852.
The receivers on Sept. 29 1920 filed application with the I.-S. O. Comm.
for authority to issue a receiver's certificate to the amount of $2,500,000,
bearing interest at 6% and maturing Dec. 1 1921, to pledge and hypothecate
it as collateral security for a loan of like amount from the Government.
Committee for First M. 4s (old Co.)—Lord Monson (Chairman); Columbia
Trust Co., N. Y., and Glyn, Mills, Ourrie A Co., London, depositaries.
Of the $21,409,000 in the hands of the public, $19,545,000 had been de¬
posited in June 1914.
V. 94, p. 767, 911, 1566; V. 97, p. 443; V. .98, p.
763, 1244, 1767.
71
RAILWAY STOCKS AND BONDS
MAT, 1921.]
Si
MAV OF THE
frobfeM,
itfarllngton
Bloomii
KANSAS CITY SOUTHERN
Milan <*>
'airbui
Burr Oak
RAILWAY.
L on
W
p^aoswM
torto?
Xllfico
'
/Irving
Concordia )
Monroe Cy"
Uthroj
'
Brunswick
Clay Centei
v
1
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^Oibori/*j
Louisiana]
Law eon
rrlaon Crocs
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Dreiel
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uthriel
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Vy«gon»r[Y'
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F]fork\\.pettlITW
IstilwellI
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I
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Okmulgee
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MEMPHJI
I
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Mans tie Id,
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lolly Springs.
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Little Bock
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Stuttgart
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^
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-jhBenton
fklthelme]
ftaJve^T
Clarbsdale
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o^DaleyllW
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v#\
Ci—
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—^LOCKSBURG
<[
HaehT.Ct
Fordyoe
Ringgold'
Washita
Camden
Whltesboro:
Oeymotti
Inland
Wolfe.Cy,
'Commerce
'McliKlnney
Tehnle.
TEXARK,
Draper
Hamburg
/Nei
Mt. Pleasant
Durant
Junction Cy.
.Bridgeport
Pittsburg
Albany
,
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[•
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Mertens
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Coushatta
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Magnolia
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LCCCVO-LE
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,Baton Bong<
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72
EAILWAY STOCKS AND BONDS
RAILROAD
COMPANIES
[For abbreviations, &c„ see notes
Date
Road
6]
Rate
When
Outstanding
%
Payable
Last Dividend
and Maturity
Places
Where Interest and
Dividends are Payable
162
1885
$1,000
$3,274,000
OS
A
ft
O
11925
Boston, Old Colony Tr Co
1901
1882
1,000 fto
1,000
1,000
1,000
1,000
500 fto
BOO Ac
500 fto
25.941.000
390,000
18.730.000
1,606,000
b2,342,000
3,323,390
48
A
A
O Oct
5
F
A
A
Aug
8
MAN
May
5
5 g
4
A
O Oct
A
A
O Oct
M
A
S Mob
Company, 120 Broadway
Colony Tr Co, Boston
Bank Trust, NT; ft Boat
Old Celony TrCo, Boston
Bank Tr Co, N Y; ft Bost
Old Colony Trust Co
95,780
5,628,500
1,000,000
5
5
4 g
1936
1922
1928
1927
1929
11934
11934
1 1934
1 1922
26
1888
1887
1889
1894
715
82
3
do
Amount
Value
1,085
Kansas City Clinton ft Spring—1st M g
Kansas City Fort Scott & Memphis RyBet M 160,000,000 gold guar p & 1
Income
Par
Bonds
Miles
on page
[VOL. 112.
285
285
285
39
non-com.
stamped £
1894
1894
1902
1.000
A
Mch
Sept,
MAS Mob
A
A
O Oct
Old
do
do
do
do
Bankers Trust Co
sCity F 8 ft Memphis
Mem phis
K C Memphis Ry & Bridge Co—See Fort Scott ft
Kansas City Mexico & Orient—Stock see text....
1914
Two-year gold notes $6,000,000 red par
Col.c
Kansas City Outer Belt ft Elec—-Stock (hplf 4% pref)
"8 1903
1st M $3,000,000 g-...-..........-.;..........
Kansas City & Pacific—See Missouri Kansas ft Texas Ry be low.
Kansas City St Joseph & Council Bluffs—See Chicago Burlln gton ft
1897
Kansas City Shrevep & Gulf Term—1st M red 105..z
100
mmmrn
mmm
...
mm mm.r
-
1,000
QU"®
mmm
100
mmm
100
Kansas City Southern—Common stock $30,000,000-Preferred stock 4% non-cum $21,000,000
First mortgage $30,000,000 gold
Ba.xc&r
Ref andImpt M $21,000,000 gold red 105.xc*Ar.N
Eattin notes ster D due $62,000 s-a red par
Nx
Kansas City Term Ry—Stock autb $50,000,000
1st M red as a whole on or aft Jan 1930 atl05 ft int.x
Secured gold notes $2,500,000 call 101
CeC,c»
Sec gold notes $9,850,000 call at 101 ft lntCC.vc*ftr
Purchase Money Mortgage notes.........
Kansas Oklahoma & Gulf Ry—See text.
Ken ft Ind. Term RR—1st M guar tsee text) Q.xc*ftr
162
Keokuk & Des Moines—Preferred stock
""
First mortgage interest guaranteed C RI A P
162
c*
Keokuk & Ham Bondholders Co—Stock..
Secured notes callable any lnt aate..............
Knoxville & Ohio—See Southern Ry.
41
La Crosse ft S E Ry—1st M $1,000,000 g red 105 .._z
b Excludes $571,000 beld alive
in
sinking funds
x Total Issued $50,000,000. of which $16.908.000 pie dged t
...
1900
1909
mmm
1912
mm m
mm
mmm
mm
1910
mmm
1918
mmm
1,000 Ac
1,000 Ac
1,000
m
1910
mmm
mm m m. m
mm
100
10
mm
1915
—
—
....
1904
notes as
Note Committee—Chairman J. N. Wallace and H. Bronner, N. Y. City;
Jozach Z. Miller, Kansas City; Henry Sanderson, of O. D. Barney ftCo.
of N. Y.j William J. Gray, Detroit; Herbert F. Han, P. W. GoebeL W. 8.
McLucas and Clifford Hlsted of Kansas City, and C. M. Sigler, 54 Wall St.,
N. Y. City, Sec'y.
Central Trust Co., N. Y., and Commerce Trust Co.,
Kansas City, Mo., depositaries. V. 102, p. 1436, 1896, 2166.
Plan of Dee. 81915 failed of adoption. V. 101, p. 2144; V. 102, p.
Bond application. V. 110, p. 1973.
EARNINGS.—Years ending Dec. 31:
1920.
1919.
Gross earnings...-.
—See V. 101, p.
153,713
$2,526,122
def.45,854
1711
OFFICERS.—William T. Kemper of Kansas City Is (a) receiver of the
Kansas and Oklahoma lines, 272.20 miles; (b) President of the Texas line,
465.75 miles, and (c) receiver Jointly with S. W. Rider of the Mexican lines,
226.20 miles.—(V. 112, p. 1024,1740.)
^
KANSAS CITY NORTHWESTERN RY.—(V. 112,
p.
appointed receiver.
was
In Nov. 1912 $100,000 receiver's certifF
authorized, of which $91,000 were Issued.
Foreclosure sale set
June 18 1918 but postponed indefinitely, upset price, $131,000.
V. 100, p. 2757; V. 108, p. 480; V. 109, p. 477.
Bondholders' committee John W. Flatten, Chairman; Calvert Brewer
*cates were
for
flee.; U. 8. Mtge. ft Trust Co.. depositary.
V. 102,
V, 104, P. 2641; V. 106, p. 2757; V. 108. p. 480.
p.
713; V. 103, p. 2340
KANSAS CITY SHR8VEPORT ft GULP TERMINAL CO.—Owns union
depot at Shreveport, La , Including 1.10 miles of yard and terminal track.
Stock, $150,000, all owned by Kansas City Southern Ry.
Bonds, Pioneer
Trust Co., Kansas City, trustee,
Office, Kansas City, Mo.
KANSAS CITY SOUTHERN RY.r-OSe# Mop.)—Operates a line extend¬
ing from Kansas City, Mo., to Port Arthur, Tex., thence by Its ship oanal
7 m., to deep water on Gulf of Mexico, with branches and extensive term¬
inals used by various roads entering Kansas City.
Lines Owned—
Lines Owned—
Miles.
to
Fort
Kansas City, Mo., to Belt Juno.. 12 Branches
Miles
Smith,
De
Ar¬
Qulncy, La., etc
.........
51
..765 Trackage—To Gr. View. Mo., etc. 25
Miles of 2d track, 19; yard, terminal and side tracks, 429; total track
mileage in system, 1,301.
i
Also owns entire $650,000 each of stock and bonds of Arkansas Western
Ry., Waldron to Heavener, Ark., 32 miles, operated separately; also con
tools K. C. Shreve. ft Gulf Terminal Co.
V. 83. p. 38. 492.
ORGANIZATION.—A reorganization of Kan. 0 Pitts, ft Gulf RR., fore
dosed In 1900 per plan In V. 69, p. 1012,1062.
V. 73, p. 1356: V. 74. p. 94,
V. 80.p. 1971; V 81. p. 559; V 84. p. 1366: V. 88. p. 375.
Government contract not executed to Dec. 1919.
V. 107, p. 1344; V.
108, p 268; V. 109, p. 586.
Valuation In 1916, V, 104, p. 73, 452.
Valuation case, V. 110, p. 1042.
SECURITIES.—As to the $21,000,000 "Ref.and Imp.' bonds of 1909
see V. 88, P. 1128. 1253. 1437; V. 89. p. 104; V. 90, p. 167; V. 92, p. 322
395.461.795: V. 96, p. 1472: V. 100. p. 1832; Y, 101, p. 2144.
Decldon oo
Kansas city Suburban Belt Ry. notes. V. 97, p. 1663; V. 98. p. 1469
DIVIDENDS — first dlv, on pref. stock. 4%
pat! July 1 1907 out of
~
earns, for 1906-07; Oct., 1%; 1908 to Apr. 15 1921, 4% p. a
.-J.),
allocated
Equipment trusts teamed to Director-General for ro"
to this company.
See'article.'on page 3.
-Mar. 31—
EARNINGS.—
1920.
Grand
View,
Mo.,
thur, Texas
to
Port
—
——$5,010,421 $4,389,235
1,109,532
627,055
-
----
REPORT.—For calendar year 1920:
Calendar Years—
Total gross receipts
Net earnings—----"Standard return"Total net Income——.
Interest
&c
on
$4,443,562
$1,040,533
$452,780
(2 mos.) and Govt gu; f*amv (6 mos.)
$182,647
——
-*$5,544,335
-
bonds, &c—
surplus.
1918.
$4,167,970
$3,496,385
3,764,226
284,456
1,858,462
598,661
.
.
—
♦Includes Fed. comp.
1919.
$3,277,923
$3,496,385
3,603,967
213,353
1,880,549
217,284
840,000
-
-
-
—„
Miscellaneous
Dividend on pref. stock (4%)—
Blance,
1920.
$22,355,227 $16,607,011 $16,531,528
—17.911,665
13,329,087
12,363,558
Operating expenses-——
Taxes,
Prin. ft int. over-due.
:
o
F
A
A
A
A
Oct" 191 l ooup" fast paid
Aug 11927
Treas Off,
Kan City, Mo
Apr"15 1921" 1 % Checks" mailed"
Q——J
A
J
Apr"~li953
New York Trust Co, N Y
do
do
O Apr
J
11950
Apr 1 1950
J ft D 15 Dec'21-Dec '24 Blair ft Co, New York
j" a""j
11965 "
N Y
J
A
Boston"
ft
Chicago" *
New Yerk and
New York and
J
ft
J July 1 1921
MftN15 Nov 15 1923
J
Chicago
Chicago
J P M & Co, N
5
1921
Y&
First"Nat "Bank"
See text
A
A
O
NY
3
300,000
Aft
O 1945
A
5 g
O Oct
A
La Crosse, Wise
1 1944
of Sept. 30 1919.
In Nov. 1918 sold (V. 107,
p. 1920, 2008), $9,850,000 Five-Year 6%
Secured Gold Notes In order to retire $9,625,000 notes, maturing on or
before Nov. 30 1918.
As security for this new issue there are pledged at
about 71 H%, $13,783,000 First Mtge. 4% gold bonds, due Jan. 1 1960.
These notes are callable as a whole or in amounts of not less than $1,000,000
time on 30 days' notice at 101 and int.
In July 1916 there were sold
$2,500,000 5-year 4)4% notes secured by $3,125,000 1st M. 4s, to retire
$2,500,000 Kansas City Belt Ry, 1st 6s. due July 1 1916.
V 102, p. 2254.
Application has been made for authority to Issue $2,000,000 10-yr. 6lA%
notes, proceeds to be used to retire in part the notes due July I 1921.
V. 112
p. 2083.
Equipment trusts Issued to Director-General for rolling stock allocate
to this company
See article on page 3.
Earnings for 1920, gross, $1 353,562; net, def., $221,664; Govt. comp.
$464,641 (est.); other income, $2,269,793; int., rentals, Ac., $2,512,770
"KANSA^^KLAHOMA
the "new company"
& GULF RY.—This company was organized
provided for in the plan of adjustment of the Mis¬
souri Oklahoma A Gulf RR. System, dated Dec. 31 1918 (V. 108, p. 1936).
The plan was approved bv the Director-General of Railroads during the
period of Federal control.
In accordance with the plan the company
acquired the properties that were subject to the receivership and was au¬
thorized by the I.-S. O. Commission to issue bonds, capital stock and equip¬
ment trust notes as below, for the purpose to further execution of the plan.
The Missouri Okla. A Gulf Ry. owned and operated 203.31 miles of main
track and 41.3 miles of sidings, extending from Wagoner to Red River,
Muskogee and Henryetta; Dewar to end of track, 9 m.; Junction to Bormide, 4 m.; Missouri Oklahoma A Gulf RR. (V. 96, p. 1022), Wagoner, Okla.,
to Baxter, Kan., 98.2 miles.
Mo. Ok. A Gulf Ry. of Texas owned and
operated 9.1 miles Red River to Denison.
New Securities.—The company was authorized to Issue, as of Mar. 11920,
the following securities: $2,744,750 Series A 6% bonds, due Jan. 1 1937;
$82,000 6% Series B Income Bonds; $6,120,500 6% Series C bonds, due
Jan. 1 1949; $9,120,500 pref. stock; $729,640 common stock: $436,539 equip¬
ment trusts.
The bonds are to be subject and inferior to the Government's
lien mortgage dated Mar. 1 1920, under which $1,411,687 Govt, lien notes
kave
boon
issued
Under the plan the Indebtedness of the company was reduced by $13,546,237.
Compare V. 112,,p. 469.
REPORT.—For cal. yearl 1919, gross, $1,517,856; net, $938,591; fixed
charges, $619,991; bal.. def., $1,347,102.—(V. 112, p. 469.)
—
1921.1
Gross-
3d Apr 301916
A"ft"
4 g
--
as
562.)
KANSAS CITY OUTER BELT & ELECTRIC RR.—Incorp. July 18
1902 In Kansas to construct a double-track belt line; uncompleted in 1920.
"V. 75, p. 184; V. 76, p. 331; V. 80, p. 871.
On Oct. 31 1912 Thomas A.
Bigger
Aft O
at any
1917.
1918
$3,705,833
$2,834,050
$2,448,332
def.1,356,737 defl,728,425 def.695,848
Net after rents.-
6 g
t. c.
£1,351.000
4)4 g
1,524,600 See text
5
2,750,000
1,000,000
384,800
1,000
osecur e
mmrnmmm
v.
150,000
4
29.959,900
21,000,000 4 "in" 1920
3 g
30,000,000
18.000.000
be
5 g
434,000
$2,200,000
4~g~"
X33,092.000
2.500.000
4)4 g
6 g
9.850,000
5
1,115,753
£100
100
Ac
1911
1878
mmm
mm
1,000Ac
1.000
1.000
—
—
20.000.000
5,640.200
5,000,000
1,788,000
-
100
.
—
3.0-17,802
—
Vi 000
—
_
840,000
_DI RECTORS.—Chairman. L. F. Loree; Jchn F. Harris. J. A. Blair,
W.'T. Rosen, Andrew J. Miller. W. G. Street. "W, H. Williams, Arthur
Turnbull, Samuel McRoberts, B. S. Guinness, U\, C. l^oree and Joseph F.
Stillman of N. Y.; Edward F. Swinney, Geo. M, ft vers and J. A. Edson,
Kansas City, Mo.
Office, 25 Broad St., N. Y.—(V. 112, p. 1617, 1978,
KANSAS CITY TERMINAL RY.—Owns 27 mlLw of road, with passen¬
depot and freight and passenger terminals at Kansas City, Mo.
Con¬
trolled by 12 proprietary coe., viz.; Chic. R. I. ft Pac., Atchison Topeka
ft Santa Fe, Chic. Mllw. ft St. Paul. Chlo. ft Alton, St. JWuia
San Fran,
Union Pacific, Wabash, Chic. Burl, ft Qulncy, Mo. P&e., Y^eoxrt&an. ft
Tex.. Kan. City Southern and Chie. Gt. Western, which i-u my equally
ger
any excess of fixed charges.
Y. 89. p. 1671.
Has 150 miies now built
of main and Industrial railroad tracks, 6 load freight station*, passenger
freight and switching yards. Ac., and union passenger statirut,
V, 107.
p.2008; V. 90, p 627, 630; V. 91. p. 1386; V $8. p. 1244; V. 99, p. 1130.
On Feb. 15 1919 put in operation double-decked viadut fc over &aw
Valley bottoms to connect with (1) Union Pac. and Oh. R. I ft p, Ry§.
(2) Mo. Pac. and Ch. Grt. West.
V. 103. p. 1980; V. 106. p. 1 lie.
Of the 1st 4s ($50,000,000 auth.), $16,908,000 are pledged to secure luot-es;
V. 90. p. 627: V. 91, p. 1386; V, 92. p. 395; V. 93. p. 164; V. 96. p. 135, 102;
V. 98. p. 1244.131& V. 100. p. 733; V. 106, p. 2&8; V. 107, p. 2008.
KENTUCKY
bridge
over
INDIANA
ft
Ohio
River at
TERMINAL
RR.—Owns
2-track
steel
Louisville and 10.44 miles main track and
47.60 miles yard tracks and sidings in and about Louisville. Sou. Ry., Balti¬
more ft Ohio and Chic. Ind. ft Louis v. own the $75,000 capital stock, and
under new lease from Jan. 3 1911, pay monthly. In proportion to ears
handled, any deficit in operations, rentals, taxes and Int.
Bonds, £2.000,000 auth. issue, of which £1 351.000 guar, by the three proprietary cos.,
were issued to retire the $2,136,600 old bonds and for new construction; re¬
mainder reserved for future purposes.
No government contract for opera¬
tion signed as yet. V. 92, p.
V. 93, p. 469: V. 95. p.
187: V. 91. p. 589,214,38; V. 92, p. 201,1032;
1403: V. 102, p 437.
Pres., Geo. H. Campbell; V.-P., A. P. Humphrey; Treas., H. D. Ormsby;
Sec. A Aud., E. K. Scott.—(V. 97, p. 521; V. 102, p. 437; V. 105, p. 1898;
V. 110, p. 1089.)
w
KEOKUK ft DES MOINES RY.—Owns from Keokuk, la., to Des
Moines, la., 162 miles.
Leased for 45 years from Oct. 1 1878 to the Chicago
Rock Island ft Pacific Ry., the lessee paying25% of the gross earnings and
guaranteeing the int. (not the prin.) on the bonds.
During the receiver¬
ship of the C. R. 1. A Pac. Ry. from July 1 1915 to June 24 1917. ths
payments under the lease were suspended under order of Court, but the
interest on bonds was regularly paid out of the earnings of the road.
Upon
termination of Rock Island receivership in June 1917. the operation of the
property was again taken over by Rock Island Ry. under the old lease.
Stock Is $1,524,600 pref. and $2,600,400 com. (par $100).
On Dec. 31
1920 Ch. R. Isld. A P. Ry. Co. owned $1,487,900 common and $617,400
pref.
Pref entitled to share with common stock In any excess over 8%.
V, 99 p. 49. 969: V. 104. p. 1801
Pref dlvs. were resumed In 1919. 7%,
paid Mar. 1; paid 3)4% Aug.41919:2% Mar. 10 1920, and 3% May 51921.
LATE DIV.—
On
1
08.
preferred1H
Year ended Dec. 31
09. 1910-12. '13. *14. *15. 1916-18. *19.
1
2)4 yrly. 3)4 3X 2*4
None
1920.
10)4 Mar., 2
1917. gross. $344,073; net, $106,938; int. on bonds,
$137,500; charges. $86,940: bal.. def.. $117 502.
Officers.—J. E. Gorman, Pres.; M. L. Bell, V.-P.; Carl Nyqulst, V.-P.,
Sec.^Wm. La Venture, Sec.—(V. 112, p. 1617.)
Treas. ft Asst.
keokuk ft hamilton bondholders' co.
Incorporated In May 1914 with $100,000 authorized stock, of which only
99, p.
1920. the bonds of the Keokuk ft Hamilton Bridge Co., wblcb owns bridge
across Mississippi River at Keokuk, la., used by Toledo Peoria ft Western
and Wabash RRs. and foot passengers, and assist It In rebuilding the bridge.
The $1,000,000 30-year convertible non-cum. income debentures, to bear
Interest at not to exceed 2 H % per annum, were exchanged $ for $ for the
Bridge Co. bonds.
These debentures have since been retired by an Issue
a
nominal amount to be issued atpresent, to acquire (per plan V.
of stock for like amount .
applied, first, to payment of interest
second, to a special fund on the stock, and third,
lot at par and Int. or by purchase at less than
par (these by Increase in traffic, it i« expected to retire In a reasonable time).
UpWh such retirement the notes will be returned to the stockholders.
EARNINGS of Keokuk ft Hamilton Bridge Co. year ending Dec. 31
1920. gross, $86,104; net, $56,462; interest, $49,485; taxes, $4,252.
For
1919, gross, $77,594; net, $53,233; interest, $39,583: taxes, $3,381.
Treas.,
Theodore Gllman Jr., 55 William St., N. Y.—(V. 95, p. 818; V. 99. p. 120.)
The Income of the new co. Is to be
on
the 6% secured notes;
to retirement of the notes by
SOUTHEASTERN RY.—Owns La Crosse and South¬
Wis.. 40 81 miles;
trackage
La Crosse aud
18 miles: total. 42.61 miles.
Stock authorised.
$1,000,000: outstanding. $955,000: par. $100
Bonds. $1,000,000 auth.:
autstand-lng, $300,000.
Wisconsin Trust Oo. of Milwaukee, truscaa.
LA
CROSSE
eastern
S. E
Jet.
Jet. to
to
ft
Vtroqua.
La Crosse,
MAY, 1921.]
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations, Ac.,
see
Miles
Lackaw RR of N J—Stkauth $12,000,000
Date
Par
Amount
Rate
When
Last
Road
notes on page 6]
Dividend
Bonds
Value
Outstanding
%
Payable
and
Maturity
$10,750,000
970,000
5g
gu 4% dlv
L C Frank & Clarion RR—1st M g call 1918 105.FP
Lake Erie & Detroit River—See Pere Marquette RR.
31
1913
$1,000
Lake Erie & Pittsburg—Stock rental guaranty
100
28
710
4.300,000
3,540.000
4H
11.840.000
11,840,000
7,250.000
3.625.000
660.000
1887
1,000
1891
1.000
1917
Centr al RR
35
1911
Lake Tahoe Ry & Tr Co—1st M g $500,000 8 f beg 1905
17
1901
Lansing Manufacturers—1st M serial Interest rental..
8
1905
Laramie Hahn s Peak Sc Pacific Ry—See Colorado Wyom ing A
Leavenworth Terminal Rv & Bridge—1st M g s f.Cex
3
1893
Lehigh Sc Hudson River—Stock
Lehigh & New England—Stock
First mortgage $1,060,000 gold
All
FPx
General mtge $15,000,000 g red 105
GuP.kc*
196
Equip tr ser A g gu red 102 H due $30,000 yrlyQuPx
do
ser B g gu red 102 H due $45,000 yrlyQuPx
do
aerOguargoldred 102H $35,0001yrly.GuPx
do
ser D due $40,000
yearly guar
PeP .xc*
do
aer E due $55,000 yrly
(guar) (V. 103,p.1405) PeP
Lehigh Valley—Common stock $80,000,000
Gp
Preferred stock 10% (V 79, p 151, 269)
GP
First mortgage extended In gold In 1898-GP.xcAr
286
Consolidated Ml coupA reg $4,762,000 4
-.xcArl
$40,000,000 j annuity $2,538,000 4«s
FPx/
317
General Oonsol mtgel $150.000,000 gold. G PxC'Ai
31
do
do
/
317
Coll trust bonds $500,000 due a a, see textGP.xc* Ar
<3©11 trust bonds call 103 Sept 1923 or aft.xxxkc*Ar*
50
1895
1,000
1,000
1,000
1.000
1.000
1914
1916
1873
1903
1903
1905
1918
1,000
1,000
1,000
1,000 Ac
1.000 Ac
1.000
1,000 Ac
LAKE
ERIE & EASTERN RY.—Struthers to Brier Hill, Ohio, 7.05
(V. 106, p. 2011), authorized, $8,000,000; outstanding,
$6,903,000, all owned by N. Y. Central System.
General Mgr., J. B
Yohe, Pittsburgh.—(V. 105, p. 2184; V. 106, p. 2011; V. 107, p. 291;
V. 108, p. 171.)
8tock
LAKE ERIE FRANKLIN Sc CLARION
Clarion, Pa.. 15 miles; branch, Strattonvllle
RR.—Owns SummervlUe to
to Mill Creek, Pa.,
3.10 m.5
other branches. SH na.; trackage, Sutton to Franklin. Pa., 47.9
m.; total,
74.75 miles.
Capital stock $1,000,000. par $50. 1st M. bonds auth. $1,000,000.
callable on or after Dec. 1 1918 at 105 and Interest.
For calendar year 1916, gross, $153,345; net, $56,713; other Income,
$5,583, Int., taxes, Ac., $59,063; sur., $13,232.
For 1917, gross, $159,408;
net, after taxes, $49,422.
Pres., Gen. Charles Miller, Franklin, Pa.;
V.-Pres.. T. J. Odell, N. Y.; Treas., H. H. Hughes.
LAKE ERIE Sc PITTSBURO RY.—Owns 27.76 miles between Marcy
a connection with Cleveland Short Line Ry.
(now N. Y. Central RR.)
and Brady Lake Jet. on Penna. RR.; was opened Oct. 15 1911.
V. 98.
p. 1241.
Jointly owned by N. Y. Central RR. and Pennsylvania Co..
which have trackage rights over the road, rental providing for Interest and
at
6% on stock.
Stock auth
$6,000,000. as Increased In May 1911; outstand
Ing, $4,300,000, of which the Pennsylvania Company and N. Y. Central
RR. each own about $2,150,000.
In June 1918 new bonds were Issued
$1,770,000 each to Penna. Co. and N. Y. Central, but are not guaranteed.
V. 101, p. 694; V. 103, p. 320.—(V. 104, p. 1801.)
.
LAKE ERIE & WESTERN RR.—ROAD.—Owns Sandusky, O., to
Peoria, 111., 413 miles; branch to Minster, 10 miles; branch, Indianapolis to
Michigan City, 159 miles; Fort Wayne to Connersvllle and branch to Rush-
ville, 128 miles; total owned, 710 miles.
In Jan. 1920 disposed of Its lease
of the Northern Ohio RR. to the Akron Canton A Youngstown RR.
HISTORY, Ac.—See V. 50.jp. 590; V. *5, p. 600.
N. Y. Central RR
$5,940,000 com. and $5,936,000 pref. stock
V. 71, p
1269.
compensation under Federal control, $1,548,541.—V. 109, p. 472
DIVIDENDS.—1'99. '00. '01-'03. *04
'05. '06. '07. '08.
09 to Oct.' 20
On preferred
%/ 0
2
4 yearly
3
3
3
3
1
None
ewna
Annual
„
BONDS.—Equip. 434s. V. 104, p. 256.
Equipment trusts issued to Director-General for rolling stock allocated
Jan. l-Dec. 31
1920.
—
...
...
&
ISHPEMINO
RY —Owns
(Mar-
Presoue Isle
3.12 miles.
Also
?uette) to Ishpemlng, Mich., 26.10 at Presque Isle Harbor miles; total
7.02 Controlled
large docks miles; branches,
owns
by Cleveland-Cliffs Iron Co.
Stock. $1,000,000; par, $100.
The serial 6s
of 1911 are redeemable in reverse ofnumerical order at 101
V. 92 p. 1636;
V. 93. p. 229.
For year ending Dec. 31 1920. gross, $1,649 024; net $470,06l; other income, $72,967; int. on bonds. $30 110; rental, Ac.,
$10,468;
bal., sur., $502,450.
Car trusts ($200,000) were paid in full July 1918.
Pree., Wm. G. Mather, Cleveland, O.; Gen. Mgr., H. R. Harris, Mar¬
quette, Mich.—(V. Ill, p. 24_'3.)
LAS VEGAS Sc TONOPAH RR.—In 1918 operations from Las Vegas
As to subsidiary. Bullfrog A Goldfield RR.,
to Beatty were abandoned.
that caption above.
see
LEAVENWORTH
BRIDGE
106. p.
1577.
River at Leavenworth.
Kan., and valuable terminal property In that city
1910 the Chicago Great Western acquired the entire stock, but does
guarantee or assume bonds.
V. 91, p. 214, 397.
Kansas City St,
Joseph A C. B. (Chicago B. A Q.) and Chlo. R. I. A P. use the bridge at an
annual rental of $16,000 each, under a 30-year contract from 1894. with
option of 30-year extension.
Chicago Great Western RR. also uses the
bridge under a contract expiring In 1924
the annual rental being $12,000
Stock. $600,000.
Federal contract (signed In March 1919, fixing annual
compensation at $43.583.—(V. 91. p. 397; V. 107.
p.
696; V. 108. p. 1936.)
LEAVENWORTH
Sc TOPEKA
RY.—Leaventvorth
to
Topeka. 57
miles, Including 11 miles trackage at terminals.
The railway was bid In at
foreclosure sale on May 10 1918 for $80,000 by residents along the line and
turned over to the present company, incorporated In Kansas on May 15
1918, with $100,000 stock In $10 shares.
In Nov. 1919 Atchison Topeka A
Santa Fe RR. was reported as about to acquire the terminals.
V. 109. p.
1987.
The special benefit district along this road in Jeffesron and Leaven¬
worth counties voted a $75,000 bond In Dec. 1919 for Improvement of road¬
_
_
OFFICERS.—Pres., J. E. Waddill, Kansas City; V.-P., Otto B. Gufler,
Topeka; Treas., George W. Hanna, Clay Centre, and Sec., Floyd E.
Harper, Leavenworth. Kan.—(V. 106, p. 2450,2560; V. 109, p. 477,1987.)
Treasurer's "office,"~N~ Y
Jan 15 1908
J Jan
1 1937
1% Office. Gr CentTer, N Y
Chase National Bk
J July 1 1941
J Jan 1 1922 to'27
F
A
A Feb
A
O Oct
A
1 1931
J July 1 1925-30
A
J Jan
11923
1920
Text
Oct
A
A
N Y
do
A Tr Co. Cleve
Mero Trust Co, San Fran
Union Trust Co. Detroit
Central Union Trust. NY
Nov
A
do
'22-Feb '31 Clt Sav
Various
J
Payable
1921 1 % Del Lack A Western RR
0 S Mtge A Tr
Oo, N Y
A
J
are
1 1963
J
J
Where interest and
Dividends
6% Warwick. N Y
2% Philadelphia office
437 Chestnut S, Phlla
1920
J July 1 1945
J July 1 1954
D June'22to'23
Guar Tr A S D Co. Phlla
do
do
do
do
Penn Oo for Ins. Ac. Phil
A
A
O Apr '22to'31
do
do
Q—J
Apr 2 '21 1H% Checks mailed
Q—J
do
Apr 2 *21 2H%
do
J
A
D June 1 1948
J
A
D Deo 1 1923
MAN May '2 >to'26
F
A
A Feb '22to'28
MAS Mar'2 2to'29
J
A
D Irredeemable
Go's office, 228 So 3d St,
Phil, and J P Morgan
A Co, New York
MAN May 1 2003
MAN May 1 2003
4,187.000
F
15,000,000
A
A
MAS
Aug '21-Feb 26
Sept 1 1928
do
.
do
LEHIGH & HUDSON RIVER RY.—Owns from Maybrook on Central
New England Ry. to Belvidere, N. J., on the Penn.
RR., 73.9 miles; and
from
Phlillpsburg, N. J., to Easton, Pa., .70 miles;
trackage, Penn. RR.,
Belvidere to Phlillpsburg, 13.3 m.; D.L. A W.
trackage, Andover Jet. to
Port Morris, N. J.. 8.7 m.; total op. 96.6 miles.
V. 79, p. 269; V. 94,p. 416.
Annual compensation under Federal
decision, V. 110,
control, $519,371.
Supreme Court
1816.
p.
BONDS.—Of the $2,587,000 Gen. M. bonds out. $1,062,000 are
guarp. A 1.. by Central RR. of N. J. and Lah. Coal A Nav. Oo.
V. 92*
595. 1701
See form of guar Ac.. In V 67. p. 788* also V. 85. p 1513
The stockholders voted Sept. 10 1920 to increase the
authorized
Jolntly,
p
capita'
stock from
$1,720 000 to $5,000,000.
Stockholders were given the right to
subscribe at par to $2.987,000 new stock to the extent of
173.7% of holdings.
Proceeds were used to pay and discharge the
principal of the entire mort¬
gage debt of $2,587,000, and to pay and discharge all the debenture bonds of
$400,000, the remainder of such Increased capital of $293,000 to be held
In the treasury.
The stockholders prior to such increase were to have the
option and right
to take and pay for at par a pro rata amount of such
increased stock in
proportion to the number of shares of stock held.
DIVIDENDS.—
Per
On
cent
Jan.
1
/
1912.
4
1913.
1914.
4
1915.
4
8
1916.
1917.
8A6 extra 12
1918-20.
See text
1
1918 paid a stock dividend of 28.36%. to
represent surplus
expended on the property prior to April 1912, thus Increasing the
capital
stock to $1,720,000.
V. 106, p. 2335.
In Dec. 1918 a dividend of 6% was
declared and paid on Feb. 10 1919; June 1919 and Dec.
1919 paid 6%
Oct. 1920 paid 6%.
Jan. 1 -Mar. 31
EARNINGS.—
1921.
Gross
$795,927
107,393
Net after taxes
Jan. 1 Dec. -31
1920.
1920.
$507,675
def.93,326
1919.
$3,116,401
277,535
$2,687,256
567,593
ANNUAL REPORT.—For calendar year 1919:
Dec. 31 Year.
Gross.
Net.
Tot. Inc. Int., Ac.
Divid'ds.
Bal.,Sur.
$2,687,526 $455,166 $532,330 $301,417 (12)$206,340
$24,571
2,476,850
452,132
529,532
227,612 (12) 206,340
95,580
1917
2.247,617
681.408
691,259
338,485 (12) 160.800
191,973
Lewis A. Riley, Pres., Phlla., Pa.; V.-P. A Gen.
Mgr., Morris Ruther¬
ford; Sec. A Treas., William H. Sayer.—(V. 112, p. 162.)
1919
1918
LEHIGH & NEW ENGLAND RR.—Operates road from
Hauto. Pa.,
Campbell Hall, N. Y., 127 miles;
Halnesburg Junction, N. J., to
Edgewater, N. J., 60 miles; Bethlehem, Pa., to Benders Jet., Pa.. 19 miles;
Bath, Pa., to Martin's Creek. Pa.. 18 miles, and branches. 72 miles;
total,
Dec. 31 1920, 299 miles, of which 8 m. are leased and
97 m. trackage rights,
leaving 191 miles owned.
In 1918 built from Bethlehem, Pa., to Allentown. 5 miles.
V. 95. p. 1403; V. 105, p. 181.
Lehigh Coal A Nav. Oo.
owns majority of stock.
V. 78, p. 1781, 1962; V. 91,
1386.
Supreme
Court decision, V. 110, p. 1816.
to
Federal
Compensation.—$1,135,761 yearly during Federal control.
SECURITIES.—Stock
auth.. $7,500,000; outstanding
$6,800,000, nearly all owned by Lehigh Coal A Nav. Co.;
DIVIDENDS.— 1913.
Per cent
4%
Dec. 31
$50.
1920.
par,
1914.
1915.
1916.
1917.
1918.
1919
8%
11%
10%
10%
8%
8%
Bonds, Ac.—Of the Gen. M. 5s of 1914 ($15,000,000 auth.). $1,000,000
were reserved to retire the 1st 5s and
$10,000,000 for future purposes.
V.
102, p. 976, 1060; V. 99, p. 49. 674.
—Jan.
EARNINGS.—
Gross
1—Mar. 31
1921.
1920.
$987,845
118,348
Net after taxes
Jan. 1—Dec. 31
1920.
$966,784
101,478
$4,808,055
758,319
1919.
$3,981,318
923,530
REPORT.—For
net income,
Pres.,
1920, gross income, $1,255,423; deductions, $411,725;
$843,698; dividends, $388,000.
Samuel
D. Warriner; V.-P. A Gen. Counsel. Wm. Jay
Turner;
V.-P. A Gen. Mgr., Rollln H. Wilbur; Sec. A Treas., Henry H. Pease*
Comp., E. M. Reynolds, 437 Chestnut St., Phila., Pa.—(V. 110, p. 970.
1849. 2075.)
LEHIGH VALLEY RR.—Oper. Dec. 31 1920 1,449 miles, viz.:
(fee, or all stock owned).
! Leased
Jersey City to Buffalo
446'Trackage
Branches (fee or all stock own'd)
797' (2d track 609 miles)
...
-
—
...
In July
bed and equipment of the road.
A
Places
See text
J July 11965
Main Line
CO.—V.
LEAVENWORTH TERMINAL RAILWAY & BRIDGE.—Owns high¬
way and railroad bridge (opened Jan. 1 1894), 1,112 ft. long, over Missouri
not
A
J
J
1919.
$2,172,073
$2,508,649 $11,047,404
$9,784,825
def327.110
561
50.146
99,355
REPORT.—Report for year end. Dec. 31 1919 In V. Ill, p. 1562.
Year—
Oross.
Net.
Comp'n. Other Inc. Int., Ac.
Balance
1919—$9,784,826
$99,356 $1,548,542 $141,377 $1,182,540
$507,378
1918
9,343.905
662,340
1,548,542
60,881
1,113.134
496,289
1917
8.122,895
1,853.777
136.681
1,256,865
733,593
1916
7.404.184
2.410.960
126.438
1.017,431 1,519,967
—(V. 110, p. 562, 970. 1290; V. Ill, p. 1562, 2140, 2520.)
-
A
J
320,000
525,000
60,501,700
106,300
5,000,000
10.400.000
12.600.000
26.983.000
20.697,000
50
1873
J
250,000
270.000
50
1868
A
60.000
1.000
1913
g J
6,800,000
1,000.000
4.000.000
1.000
1914
1908
1911
LACKAWANNA RR. OF NEW JERSEY,—{See D. L. A W. Map.)—
Owns from Hopatcong, N. J., to a point near Portland,
Pa., 27.44 miles,
opened Deo.1911,
D.L. AW.leases the road for a guaranty of 4% on the
•took.
V. 93. p. 1324, 1786; V. 92, p. 656; V. 90. p. 557; V.
88. p. 558;
V. 86, p. 543.
Stock outstanding, $10,750,000. was distributed in Deo
1911 as a dividend to the D. L. A W. stockholders.—(V. 106.
p. 601.)
SUPERIOR
3
D Dec
Text
Ac
552,000
1,000
500.000
1,000
38.000
Eastern
JRy "
1,000
560.000
100
4,707.000
Year ending Dec. 31 1920, gross, $134,355; net, $32,020;
int., rentals, Ac.,
$26,676; bal., sur., $5,344.
Pres., John H. MacMillan, Minneapolis,
Minn.; V.-P., A. S. Cargill, Minneapolis, Minn.; Sec. A Treas., Jas. B.
Taylor, Minneapolis, Minn; V.-P. A Gen. Mgr., P. Valier, La Crosse, Wis.;
Gen. Aud., R. J. Semsch, La Crosse, Wis.
Office, 30034 Main St., La
Crosse. Wis.—(V. 80, p. 222.)
LAKE
A
Text
100
...—
-
Gross
Net after taxes.
J
5
1,000 Ac
710
Equip trust due $110,600 yrly begin Jan 1 1918.CP
to this company.
See article on page 3.
Government loan, V. Ill, p. 2520; V. 112, p. 162.
Jan. 1-Mar. 31
EARNINGS.—
1921.
1920.
Jan
Q—J
100
100
1915
710
710
Lake Shore Sc Michigan Southern—See New York
Lake Super & Ishp—1st M $70,000 due yrly red 101 xc*
...
4
r
First mtge $15,000,000 c guar unissued..a.xe* Ar*
Lake Erie & Western—Common stock $20,000 p m_.
Preferred stock 6% (not cum) ($20,000 per mile)..
1st M ($10,000 per mile, see V 46. p 45) g__Ce.xc*
2d M (V 54. p 444) $3,625,000 ($5,000 p m) gCe.xc*
miles.
73
143
61
.
Under order of the Director-General of Railroads the New York and
Jersey City stations or the Pennsylvania RR. have been used by this com¬
since Sept. 15 1918. V. 107, p. 1101; V. 108. p. 1715.
pany
HISTORY. ETC.—V 91. p 276
Lehigh-Buffalo Terminal Ry.
(entire $50,000 stock and $4,000,000
Mortgage 4Hs owned Dec, 31 1920) has built a new passenger and
freight terminal at Buffalo.
V. 102, p. 153; V. 99,_p. 467; V. 100, p. 397,
733, 1257, 1672; V. 101, p. 455; V. 104, p. 1263; V. 106.
p. 1461.
Black Tom decision, V. 107,
p. 2008; V. 108, p. 973, 2122; V. 110, p.
1089, 1816.
Coal rate case, V. 108, p. 683.
New Black Tom suits, V. 110,
p. 1089.
1st
CO AL
PROPERTY.—Lehigh Valley RR. Oo.
on
Dec. 31 1920 owned en¬
tire $9,465,000 stock of Lehigh Valley Ooai Oo. Coxe Bros., see "Bonds."
Pres. Loomis In Dec. 1920 was quoted as saying that the Lehigh Valley
Coal Co.
has coal reserves amounting to between 700,000,000
000,000
In
tons.
V. Ill, p.
Jan. 1912 the Lehigh
extra dlv. below
V
94. p. 123: V
and
and 1,000,-
2324.
^
Valley Coal Sales Co. was Incorporated.
.
See
Lehigh Valley Coal 8ales Oo. under 'Industrials."
92. p 956: V. 95. p. 487. 478
Anti-trust suit appealed by U. S. Govt.
V. 105, p. 1898: V. 103, p. 1118.
V. 102. p. 1346; V. 101, p. 2145; V. 102, p. 609, 1626, 1896.
w
Lehigh Valley
Date
Par
Amount
Rate
When
Road
6)
Ac., see notes on page
Bonds
Value
Outstanding
%
Payable
1,000
YCanARR—Cons gu (text) (end)_„GP.xr
Morris Canal consol stock 4% guaranteed perpetual
Preferred stock 10% guaranteed perpetual
L V Coal Co 1st M $12,000,000 g s f not dr..xc«Ar
do
Interest reduced
x
Delano Land 1st M g gu s f (V 90. p 1617)__GP.x
Cons Real Est 1st M $2,600,000 (V83. D 702)..U8ro
Lexington Union Station—Preierred stock (see text) .
Ligonier Valley RR—1st M $300.000
..x
3,000.000
1,000
1,000
Special guaranteed
General
$10,000.000
mortgage
...a
b Of this amount
Dec. 31
'07-'10.
^
$150,000,000 bonds, bear
GUARANTIES.—Lehigh Valley Railway Co.—Owned Buffalo, N. Y.,
Sayre, Pa., 174.48 miles, double track, and branches, 339.74 miles,
all 514.22 m.. covered by $15,000,000 mtge. of 1890. but In 1903 and
1905 consolidated with other sub. cos. and In 1907 absorbed the Lehigh A
to near
in
Stock, $11,745,000, all owned by Lehigh Valley
V. 51. p. 114; V. 77, p. 147, 972; V. 81, p. 784;
Lake Erie.
RR. Mortgage
V. 84, p. 1366
Lehigh Valley RR. Co. of New Jersey.—Owned double-track road from
Phllllp8burg, N. J., to Jersey City, and branches, with about 125 acres at
Jersey City and a large water front, Ac.
Total mileage, 123 miles. Stock
outstanding, $12,506,000, all owned by Lehigh Valley RR., which In 1914
leased road for 99 years.
V. 77. p. 972; V. 53. p. 640, 880; V. 81. p. 784;
1020.
Canal.—Stock and bonds mostly owned by
1912 and V. 92, p. 527. 1109; V. 93. p.
See issue Oct.
Lehigh Valley RR.
811. 1106: V. 94,p.
419; V. 95, p. 488; V. 97. d. 37§. In Nov. 1915 the lease was held taxable.
V. 101, p. 1807.
Ownership of basin In Jersey City, V. 102, p. 1060.
RR.—Leased for 99 yearB from Deo. 1 1888 to
debt and owns all Its stock. Console
$1,500,000 4Hs. V. 62, p. 950.
Lehigh Valley, which has assumed Its
include $4,000,000 5s. $3,000,000 4s,
Ry., $500,000 gu. bds.; none
sold Dec. 311920. V.79, p.1271.
Lehigh A Lake Erie mortgage ($3,000,000) covers 11
minal road at Buffalo.
V. 81, p. 211: V. 83, p. 702.
m.
double-track ter¬
Now a part of the
V. 84. D. 1248; V. 85. p. 312; V. 87. p. 817.818.
GOVT. COMPENSATION.—Fixed during Federal control at $11,316,196, but considered by company inadequate.
See V. 108 pi 1715.
EARNINGS.—Jan. I to darch 31—
1921.
1920.
Lehigh Valley Ry. Co.
$17,623,245 $15,629,871
deficit, after taxes.
1,596,739
2,404,714
Corporate Income Account Based on Accrued Federal Compensation
Gross
Net
1919.
1918
1919
Fed'l comp'n.ll,316,196
Other income. 1,848.238
11,321,233
3,026,424
Interest, taxes,
rentals, Ac_ 8,187,221
Dividends
4,699,512
1918.
7.754.823
6,060,800
Surplus
277,701
532,034
def., $4,263,487; other income, (incl.
Fed. comp. for 2 mos. and guaranty for 6 mos.), $26,453,346; total income,
$22,189,859; deductions, $8,677,942; dividends, $4,245,749; bal., surp.,
Total income. 13,164,434 14,347.657
For 1920: Oper. income (10 mos.),
$9,266,168.
ANNUAL REPORT.—For year
Revenue from
Oper.—
Coal freight
Merchandise freight
Passenger
Mail, express, Ac
Total oper.
1920, in V. 112, p. 1969, 2075, showed:
Year
to
Dec.
31
1920.
1919.
"1918.
$26,407,550 $23,075,738 $24,118,333
35,011,415 28,531,805 29,155,590
1917.
$20,402,226
22,705,556
6,234,935
7,280,045
4,894,990
5,355,674
7,865,780
5,944,836
6,827,897
7,107,062
revenue..$75,229,584 $65,542,502 $66,788,903 $53,358,446
400,000
A
M
A
May 1 1943
July 1 1929
Nov 1 1934
1.000,000
2,487.950
789.000
Lexington, Ky
Nat Bk. Plttsb
Portland. Me
2% Office.
Mellon
Central Union Tr Co, NY
10'21 21-5 Office, Fosdlck Bldg, Cln
do
do
'21 1%
Farmer8'LnATrCo, N Y
Nov 1 1962
June
June 10
2H Office, 410 Walnut,Phil*
Safe Dep A Tr Co, Bait
1919.
$17,400,000 Lehigh Valley RR. General Consolidated Mtge.
2003.
Equipment trusts in treasury Dec. 31 1920, "M," $600,000; "O," $1.000,000; "R." $800,000.
V. 106. p. 1453.
Seneca County
Jan 1 1921
A
J
J July 15 '21
1918 (V. 107, p. 905; V. 108, p. 878,
collateral (subject to substitution under restrictions),
Y. Canal A
A
M
4 g
O Junel 1942
gold bonds, due May 1
A N.
J
6
A
Valley RR.); (c)
Penn.
4
s
A
$4,000,000 Lehigh-Buffalo Terminal Ry. 1st M. 41^s, due Nov. 1
1966 (guar. p. A I. by Lehigh Valley RR.
V. 108, p. 1715); (b) $2,600,000
Consol. Real Estate Co. Mtge. 4s, due Feb. 1 1956 (guar. p. A i. by Lehigh
703; V. 98, p. 1845,
1 1956
A
$15,000,000 Collat. Trust 6s of
Morris
Feb
Jan
5
viz.: (a)
V. 83. p.
A
A
stock of the Lehigh
there were
$26,983.$20,000,000 5s;
balance reserved to retire underlying bonds and for additions, Ac., $8,000,000, these last being issuable at not exceeding $2,000,000 a year, or
larger amounts as may be authorized by stockholders.
Old bonds may
however, be extended, if necessary, for not over two years.
Provision may
be made at time of issue of bonds thereunder for right to convert into stock
at pleasure of holder not over $25,000,000 at any one time outstanding.
V. 103, p. 586; V. 102. p. 1346, 1436; V. 97, p. 1823, 1898; V. 99, p. 477;
V. 77. p. 824; V. 78, p. 287; V. 79. p. 1642; V. 82. p. 1380; V. 86. p. 1343;
V. 88, p. 1372; V. 81, p. 211; V. 108, p. 2241.
See also eollat trust 6s below.
The purchase of stock of Ooxe Bros. A Co. ($2,910,150) (V. 103, p. 587)
and of Dela. Susq. A Schuylkill RR. in 1905 was financed by an issue of
$19,000,000 coll. trust 4% bonds, to be retired by $500,000 semi-annual in¬
stallments and secured by deposit of those stocks with trustee.
Bonds
subject to call as a whole at IQ2H, or in order of serial numbers.
V. 81.
1175,1242. 1376; V. 82, p. 100; V. 83. p. 702; V. 84. p. 1428; V. 88, p. 452.
abstract,
Jan
F
M
Ing not to exceed 5% int.. covering the entire road, the
Valley Coal Co. and other stocks owned.
On Dec. 31 1920
outstanding in the hands of the public, $20,697,000 4Hs and
000 4s; In treasury, $1,000,000 4J4s, $12,656,000 4s and
The
A
4
J
desired
1919
Oct.
1715) were secured by
J
treasury
5
1912 also an extra cash dividend of 10%, applicable if
to subscription for stock of new Leh. Val. Coal Sales Co.
In July
the common dividend was reduced from 2M% to \%% quarterly.
1919 to Apr. 1921, IH% quar.
Mtge. of 1903 is for
Feb
Jan
390.600
300.000
1,000
1912
In Feb.
BONDS.—Gen. Consol.
A
J
4
1915 to'18 '19 '20 '21
10 yrly. 8J4 7 text
*11-14.
10 yrly.
A
J
4 g
6 K
10
Q—M
commodities clause of the
therefore void."
Compare V. Ill, p. 2292; V. 112, p. 1866.
The company in Jan. 1921 caused the withdrawal of its representatives
from the management of the Coal Co.
V. 112, p. 372, 849.
6 y'ly.
F
5 g
See text
10,114,000
1.400,000
161,000
50
81
,NY
Lehigh Valley RR. Phlla
Office, 228 S 3d St, Phil*
do
do
5%
1921
J P Morgan A Co, N Y.
1 1933
and Drexel A Co, Phil
11933
o*s office. N Y A Phil*.
1 1932
2%
3-5 Q—M
Co.
device
Inter-State Commerce Act and
'06.
4
Of. Phil ,AJ P M ACo
1 1939
1,000 b 1.070.000
1912
independent and competitive.
^
The decision declares that the formation of the Lehigh Valley Coal
and the Lehigh Valley Sales Co. by the railroad company is "a mere
'05.
4
1921
'
4
Anti-Trust
dissolving
j'04.
1
11942
Apr
Feb
A
4
8
and properties
in fact
DIVS.
Nov
A
,
do
do
1 1935
4,837,300
4,642.650
handed down its decision
RR. Co. holdine
Since'93 (%)l
A
See text
1 000
50
J* The U. S. Supreme Court on Dec. 6 1920
the suit brought by the Govt, against the Lehigh Valley
that control of the coal properties is in violation of the Sherman
Act and, reversing the lower court, ordered the entry of a decree
the combination and the redistribution of the stock, bonds
of the several coal subsidiaries so as to make each component part
the
5 g
200.000
8.500,000 4, 4J4. 6
Oct
Sou,
x
$44,000 was In treasury on
Nov
1,000
1,000
32
Gulf RR—First mortgage
Of..Phil, A JPM
N *
1 1941
Mayl 1922(ext) Office, 228 So 3d St, Phil
1,000
1.000
1,000 In
1904
do
A
50
tittle Rock & Hot Sp RR A Coal—Stock (rental guar)
ittieSchuylkill Nav West—See St Louis Iron Mtn &
Perry &
1,000
12
44
do
A
100
gold..
gold.x
St L_.
betterment stock ($5,000,000)--
do
do
do
A
4M
51,000
A
1,000
1,000
1913"
16
do
MAN Nov 1 1966
g
&c
500
Of. Phil, A JPM AGO. NY
Sept 1 1945
1 1940
J July
A
MAS Mch
10.000,000
5,950,000
100
100
Lime Rock—Consolidated refunding mortgage
Litchfield & Madison—First mtge $1,000,000
Little Miami—Stk original gu 8% 99 yrs P C &
evade
Where Interest and
Dividends are Payable
11957
J
4*g
1,000,000
1,000
1892
1892
1891
1906
MAS
$2,000,000
15.000,000
1.000
$1,000
Pa 3c N
to
Places
Dividend
and Maturity
RR (Concluded>—
Properties—
1895
115
Y 1st M gold guar p A 1
Mp.xc*Ar
1890
514
Lehigh Valley Ry 1st M g gu p & I (end) GP.xc*Ar
1907
11
Lehigh A Lake E 1st M $3,000,000 K Usm.xc*Ar.._
1916
Lehigh Buffalo Term Ry Corp 1st M bonds
1918: See tex
Further $17,400,000 pledged under coll trust of
1891
28
Lehigh Val Term 1st M g guar p A i end__Ce xc*&r
1880
69
East A Am 1st M Phill N J to Perth Am Ac guar.xr
1895
13
Easton A Nor 1st M g guar by Leh Val_GP.xc*Ar
1892
29
Middlesex Valley 1st mtge $600,000 gold
Ce.zc*
1888
136
Bonus of C'mtrollea
Lehigh A N
Live Oak
Last
Miles
RAILROAD COMPANIES
[For abbreviations,
[VOL. 112.
BONDS
EAILWAY STOCKS AND
74
$3,628,886
765,551
$7,751,115 $14,480,486
See
$3,952,876
2,144,178
$4,488,580
net
Other rents. Ac
Preferred divs.
See
See
Corporate
Account
Bond interest
Lease other roads
$9,403,324
5,077,156
$6,985,564
859,694
Other income
Total
1917.
1918.
1919.
1920.
—def.$7,649,345
Net after taxes
Corporate
Corporate
Account
Account
above.
above.
(10%)Above.
1,231,567
10,630
6,050,170
Common divs. (10c
Balance, surplus
$1,091,050
.
Loomis; Vice-Pres., J. A. Middleton; V.-Pres., F. L.
Blendinger; V.-P. A Gen. Counsel. E, H. Boles; Sec., D. G. Baird; Treas.,
A. F. Bayfield.
■
President, E. E.
DIRECTORS.—Edward T. Stotesbury, H. S. Drinker, Fred M. KIrby.
Daniel G. Reid, Samuel T. Bodine.Geo. F. Baker, Henry
Coxe, Arthur W. Sewall, Morris L. Clothier, George T. Slade, J. F.
Bell, E. E. Loomis (ex-officio).
Office, Philadelphia, Pa.—(V. 112, p. 372,
849, 932, 1866, 1969, 2075, 2083.)
Wm. H. Moore,
B.
LEXINGTON & EASTERN RY.—See
Louisville A Nashville.
LEXINGTON (KY.) UNION STATION CO—Owns passenger station.
Common stock, $15,000, owned two-thirds by Louisv. A Nashv. and onethird by Ches. A Ohio.
There has been authorized $500,000 of 4%
cumulative [non-voting) preferred stock, secured by mtge., and rentals paid
by above-named roads on basis of passenger cars.
Pres., W. A.
McDowell.
Ligo-
LIGONIER VALLEY RR.—Latrobe to Ligonier, Pa., 10.3 miles;
nler to Fort Palmer, Pa., 5.7 m.; total, 16 milea.
Stock, $500,000; par $50.
Dividend, 25% in stock paid May 1
1913.
6% deferred dividend and 6% regular were paid. Bonds,
For year ending Dec. 31 192C: Gross, $503,192; net.
$240,826; interest, $71,381; divs., $50,000; bal., $119,445. Pres., J. R.
Mellon; V.-P., T. A. Mellon; Sec., R. B. Mellon; Treas., R. K. Mellon.
Office, Ligonier. Pay
LIME ROCK RR.—Owns road in and around Rockland, Me., 11 m.*
trackage, 1 m.; total. 12 m.
Stock, $450,000; controlled by the Rockland .
Rookport Lime Co. of Maine (V. 92, p. 960).
Dlv. In 1905-06, 5%; 1906
07, 5%. of which 3% from accumulated surplus; 1907-08, 2H%: 1908-09
5%; 1909-10. 4H%: 1910-11. 3H%; 1911-12. 2M%: 1912-13, 4H%
1913-14. Wi%\ 1914-15, 1^%; 1915-16. IH%: 1916-17, 3%; 1917-18.
none:
1918-19. none.
Year ending Dec. 31 1919, gross, $93,077; net
def. $2,619.
Office, Rockland.—(V. 82, p. 1380.)
in year
1913-14
able above.
see
LITCHFIELD & MADISON RY.—Owns Litchfield Jet. to Madison, 111..
trackage. 1 m.; total. 45 m.
Stock, common, $500,000; pref., 4%
$500,000; par, $100.
For 1920, gross, $962,973; net oper/inc.,
$223,575; other income, $47,535; int., rentals, Ac., $56,543; bal., sur..
$214,566.
Pres., James Duncan, Alton, 111.; Treas., F. M.
44 m.;
non-cum.,
Campbell.—
Ill,
(V.
692.)
p.
■
,
RR.—(See Maps Pennsylvania RR.)—Owns Cincinnati
84 m.; branch, Xenia, O., to Dayton, O., 15 m.; Day
line, 38 m.; leases Columbus & Xenla RR., Xenla, O.
to Columbus, O., 55 m.; Cln. St. Con. RR., 2 m.; Richmond A Miami RR.
Indiana State line.to Richmond. 4 m.: total, 199 miles.
LITTLE MIAMI
O., to Springfield, O.,
ton
O., to Ind. State
St. Louin
renewable for¬
Its
bet¬
is In treasury.
V. 104,
73.
stock each Dec. andl
Invested funds,
LEASE.—On Deo. 1 1869 leased to Pittsburgh Cincinnati A
Pittsburgh Cln. Chicago A St. Louis RR.) for 99 years,
The Penna. RR. Co. Is a party to the contract and guarantees
faithful execution.
Rental Is 8% on S4.943.100 original stock, 4% on
terment stock and int. on debt; $105,800 additional stock
Tote) stock. $10,000,000.
V. 84, p. 51, 815; V. 86. p. 857;
p.
Beginning Dec. 1899, 1-5% extra paid on com.
June, and with 1912 1-5% also In Sept., from surplus
making dlv. 8 3-5% yearly.
(now
ever
BONDS.—The General 4s of 1912 ($10,000,000 autn.
Co. of Cincinnati, trustee) are to bear not
lien.
V. 112. p. 562.
A Safe Dep.
Issue; Cent. Trust
over 4% int.,
and
have a first
LITTLE SCHUYLKILL NAVIGATION RR. &
Tamanend and Reevesdale, 31.44 miles;
Clinton to
and
COAL—Owns from Port
2d track, 26-47 m.; total.
years
Re-leased on Dec. 1 1896 to Phlla. A Read. Ry. for 999
rental reduced from 7% on stock to 5% gold from Jan. 1 1907
91 71 miles
DIVS
_
Since 1903
'18. *19. '20.
5 5
5
189.)
i -08. '09. *10. *11. *12. '13. *14. '15. T0. '17.
%f 5H 5
5H 5
5H 5
5H ®
5lft
taxes and organization expenses.—(V. 106, p.
5
Lessee payB
I IVE OAK
PERRY & GULF
RR.—Owns Live Oak to Econfenia. etc..
Fla., 14.41 m.; Murat Jet. to Murat.
total, 83.88 miles. Stock auth., $2,000,.
Fla.66, .85 miles; Mayo Jet. to Alton,
Fla., 3.74 m.; branches, 2.88 m.;
SK); 31 1918, $25,000. For cal. year 1918, gross, $225,635; net after ordoutstanding. $600,000; par, $100. Bonds, see table. Car trust,
taxes, $70,013; other income. $20,181; int., rentals. Ac., $46,084: war
ec.
taxes,
$12,455; bal., sur.,
V. 104. p.
LONG
2452; V. 109. p.
the steam surfaceroads of Long Island.
Leases—\*Which see.)
Miles.
Miles.
I. City to
Montauk Division
lines
Atlantic Ave. Nassau
Leases
371.
ISLAND RR.—Operates
Main line—L.
Branch
For cal. year l917lfr{oss'T,,248i'a?o
Co-operative contract signed' in July 1919.
Treas., R. P. Hopkins. Office, Live Oak.
$31,655.
net, after taxes, $106,290.
Pres.
J. H. Powell: Sec. A
Greenp't 94
115
147
Elec. RR..
9
(•which see)—
N. Y. A Rockaway
Beach Ry.»._ 12
N. Y. Bklvn
A Man.
Trackage (included
Trackage
Branch*..
17
above 4m.).
rights
Double track
Total Jan. 1 1920
4
169
598
Mat, 1921.]
RAILWAY
STOCKS AND
BONDS
75
Date
Par
Amount
Rate
When
Road
Bonds
Value
Outstanding
%
Payable
f, ofijj* Jsl&iid™*
156
163
(J3.609.000are5s)Ce.v
Ce.vc*
Long Island RRM on ferry for 12,750,000 g Xe.zc*
Stewart Line mtge of 1932 for >500,000 gold
Cev
Debenture (J 1,500,000) gold not subject to call—z
Bklyn&Mont 2dM assu BusSta to E'tp't A brsCe.zc*
L. I. City A Flushing M gold assumed ..Ce.vc*
New York Bay Extension 1st M ass >200,000
z
Consolidated mortgage (gold)
General mortgage gold
1888
1892
1892
"76
1894
1888
19
1887
6
1893
21
Extension
1895
1899
316
316
Louisiana Western—First mortgage
g
gold..
There are also >80,000 1st M. 6s
105
Ce.zc*
and >104,000 2d
lSl
315.000
a
MAS
4)4
Various
1918.
2.726,533
j Jan
A
(7)
1,000
2.150.000
1.000
10,361,000
250,000
750,000
2,240,000
500
"T.ooo
None
1917.
4,428.913
$3,221,949
312,992
406,283
299.805
262,443
3,819,613
$3,221,949
z
t
$3,784,248
$4,363,183
$366,678
171,181
2,149,343
200,407
123,093
$612,897
203,287
2,428,597
136.197
112,904
Balance, surplus
$682,506
$773,545
$869,301
Pres., Ralph Peters; V.-Pres., A. J. County, Henry Tatnall; Sec., FVanlc
E. Haff; Treas., J. F. Fahnestock.—(V. 112, p. 469, 562, 652, 1144, 1978.)
RR.—(See
Map
Union
Pacific.)—
From 8alt Lake City, Utah, to Los Angeles, on the Pacific Coast. 811 m
of main line, with branches, aggregating In all 1.168 milee: from Daggett
to Riverside. Ill miles. Is trackage over A. T. A 8
Fe and Sou. Pac.
Has
steamship connection via Hawaiian Islands to China, Japaa and Manila
V. 81. p. 1551: V
82. p. 1323; V. 91. p. 590
Salt Lake City terminals
V. 76, p. 920, 1193
1356. V. 77 ,p. 38. 148. 695; V. 78. p. 1393; V. 79. p
1024.
Las Vegas A Tooop&h RR., allied, runs from Las Vegas. Nev.. to
Beatty. 119 miles.
V. 81. p. 1175; V. 98. p. 1920. Name changed from San Pedro Los Angeles A Salt Lake RR. In Aug.
1916.
V. 103. p. 759.
Federal Compensation.—$3,414,751 yearly during Federal control.
STOCK.—Auth., $25,000,000; par. $100; all Issued: held In voting trust for
5 years (from 1903) by Farmers' Loan A Trust Co. In Joint interest of Union
Pacific and Wm. A. Clark.
In Dec. 1912 the U. 8. Supreme Court held
valid control by Union Pacific.
V. 95, p. 1542.
BONDS.—The mortgage of 1911 is for $70,000,000; $29,511,000 were
1 1921 In the Union Pacific (Oregon 8hort Line) treasury.
V.
held Jan.
V. 94. p. 124, 490. 699: V 90. p. 1703: V. 98. p, 1638, 1994
1833; V. 101, p. 132.
In May 1921 received authority to issue
$2,500,000 promissory one-year 7% notes. V. 112, p. 2190.Jan. 1 -Mar. 31
Jan. 1 -Dec. 31
1921
1920
1920
1919
Gross
$4,960,645
$4,696,608 $20,898,126 $17,209,931
N et after taxes
340,715
1,069,224
3,811,370
3,223,52!
90.
D.
Ill:
V. 100, p.
'21-Apr '25
'21-Apr *24
Boody, McL A Co, N Y
1 1945
o Apr 1
j July 1
1935
5 g
a
4)4 g
a
5 g
a
s Mch
1 1950
R Wlnthrop A Co,
a
j July
11921
S P Co,
6 g
j
See text
1953
N Y
120 B'way, N Y
REPORT.—For years ended Dec. 31:
Bal.,Sur.
Charges.
Total Net.
Net.
Gross.
$17,883,503 $4,106,778
$4,938,835 $4,137,933
$800,902
17,209,932
4,524.617
4,680,033
1,309,342 3,370,691
1918*
14,517,378
3,645,690
3,644,364
2,759,569
884,797
♦Represents Federal operation.
Pres., W. A. Clark; V.-P,, E. E. Calvin and J. Ross Clark; Treas., W. H.
Leete; Sec., C. P. Smith.—(V. 110, p. 1089, 1290; F. 112, p. 1978, 2190.)
1919*
.
„
_
LOUISIANA & ARKANSAS RY.—Owns from Hope, Ark., to Tioga*
La., 192.89 miles, less 3.98 miles not operated, Packton to Wildsville Jet.,
La., 53.32 m.; Minden, La., to Shreveport, 27.15 m.
Trackage: Concordia
Junction, La., to Vidalia, La., 8.92 miles, connecting to ferry across
Mississippi with Illinois Central and Mississippi Central: Tioga, La., to
Louis and Southwestern, near
Rock Island Co. uses 36 miles. Packton. La., to
Pineville, La., under trackage contract, and St. Louis Southwestern pas¬
senger trains the Shreveport terminals under a 25-year lease.
V 93, p. 527.
Federal compensation, $359,362 (contract signed).
The company refused
Alexandria, La., 7.33 miles; and on the St.
Shreveport, 2.01 miles.
the six months extension of the Govt, quaranty.
DIVIDENDS.—1906 to 1909,3% y'ly; then to
Sept. 15 1911,2)4 % y'ly.
None since to Oct. 1920.
>7,000,000) are reserved
which >1,000,000 reserved
Black and Red rivers, and the balance limited to >20,000
per mile of completed railroad.
The entire amount outstanding, but. no
part, is subject to redemption at 110 and Interest on anv Interest date.
Annual sinking fund $75,000 per ann. to buy bonds at 110 and Int., or under;
otherwise, to be Invested.
Of the $5,196,000 Issued Dec. 31 1917, $958,000
were held alive In the sinking fund with cash, Ac.; total credit balance to
sinking fund. $958,411.
See V. 101, p. 2071.
In May 1920 applied to
Issue $250,000 6% notes.
V. 110, p. 1973.
BONDS.—The unissued first 5s (total limited to
for betterments,
equipment and extensions, of
Cor bridges across
-Jan. 1 -Dec. 31-
far. 31-Jan. 1 -M(
.
1920.
1921.
EARNINGS—
$869,111
52,656
Gross
Net after taxes
$1,072,207
349,354
1919.
1920.
$4 305,421
$2,220,760
defl22,268
786,483
1917 in V. 106, p. 2009.
Gross.
Net.
Charges, &c.
Balance.
$1,658,042
$417,804
$315,714
$102,091
1,570,948
424,367
300,845
123.522
Pres., Wm. Buchanan, Texarkana, Ark.; Gen. Mgr., C. G. Lunday
Stamps, Ark.; Treas., J. A. Buchanan, Texarkana, Ark.—(V. 112, p. 1283,
REPORT.—For year ending Dec. 31
Year—
1917
1910
-
1617.)
LOUISIANA & NORTH WEST RR.—Owns Magnolia. Ark., to Natchi¬
La.. 115 m.; trackage. Magnolia to McNeil, 0.4 m.
On Aug.22
toches.
1913 Geo. W. Hunter, St. Louis, was appointed receiver.
V 97. p. 521, 595.
Mr. Hunter resigned on Oct. 1 1920 and was succeeded by E. R. Bernstein,
Shreveport, La.
In October 1919 the receiver sought authority to abandon the road be¬
and Gibsland, La.
Sale was ordered but no bids were
.
tween Natchitoches,
V. 109, p. 578,1273.
V. 82, p. 628; V. 85,
$11,000(V. 108, p. 784, 1936; V. 109,
Application was subsequently withdrawn.
Stock out, $2,300,000; par, $100.
1st 5s of 1905,
received.
p.
p.
1462.
Car trusts Oct. 1 1920,
578, 1273.)
LOUISIANA
RY.
&
CO.—Owns
NAVIGATION
New
Orleans
to
Shreveport, La., 303.25 miles; Aloha to Wlnnfield, 27.14 m.; McNeely'a to
Gravel Pit, 2.84 m.; total, 333 23 miles.
Stock outstanding 1918, $8,131,000: par, $100.
On Aug. 9 1918 passed out of Federal control.
Jan. 1-Mar. 31
Jan. l-Dec. 31
,
289,395
254,175
$366,683
170,246
2,122,785
381,242
217,762
LAKE
j
1920
since
$3,941,225
SALT
do
do
do
Guaranty Trust Co.N Y
1 1961
Sep 15'll IH% Checks mailed
Guaranty Trust Co, N Y
Sept 1 1927
O Oct
Deduct—
&
do
do
J July
-5-r m"a""s
1921.
EARNINGS.—
Gross.
Net after taxes
ANGELES
Phila
do
1926-1931
O Oct
Company Account—
LOS
do
Co, Phila
Co, Phila
Treas Penn RR Co, N Y
Sept 1 1927
a
$24,381,974 $22,241,156 $17,286,180
Ac
o Oct
100.000
Preliminary in¬
REPORT.—Report for year 1919 in V. Ill, p. 386.
account for 1920 in V. 112, p. 464.
War taxes,
A
do
do
do
Fidelity Trus
Fidelity Trus
11932
1 1935
1,000
1,000
refused the six months' extension of the Govt, guaranty.
Other interest
J
a
do
Aug 1 '21 to '32 Fidelity Trust Co,
Oct
5 g
do
do
O To 1923
Jan. 1 -Dec. 31——
1920.
1920.
1919.
$5,491,651
$4,721,077 $25,843,748 $24,381,973
def750,741 deft,113,963
def604,371
2,726,532
Miscellaneous rents, Ac
Bond interest
A
A
2041.
Lease of other roads
A
Q—J
A
1 -Mar. 31
Income
F
n
4 g
do
A Feb 1922-27
A
A
come
Gross
F
66,000
1921.
Net (after taxes)
I*
V*
do
do
MAN May 1 1937
j
a
d June 1922-24
104.000
5% on >650,000 New York Brooklyn A Manhattan Beach pref. stock
part rental; also 6%
on
>50,000 P. P. A So Rr stock and 10% op
$82,500 of the New York A Coney Island stock and 6% on >44,000 1st
M. 6« of Montauk Steamboat Co., due Apr. 1 1926.
TJ. S. compensation accrued
Rente, Ac
Unfunded securities and accounts
a
4 g
100
GUARANTIES.—In addition to guaranteed bonds In table above, guar
Operating revenue
.
5.196.000
as
1919.
a
59.022.000
5,000.000
100
antees
The company
a
4 g
1,000
1.000
($45,000,000 authorized Issue) are se¬
subject to the >21,992,000 outstanding eld
amount Is reserved; remainder. >24,008.000, guar, as to prln. and Int. by the Penn. RR., were sold, the proceeds to
be used for various Improvements and additions In connection wfflh the
Pennsylvania tunnels to and through New York City, principally for addi¬
tional terminal facilities at Bay Ridge and Long Island City and for a doubietrack connection with the New Haven road, for additional terminals, tracks,
equipment, and to retire old bonds.
V. 78, p. 583. 1549; V. 79, p 796;
V. 80. p. 1111: V. 81. p. 211; V. 82. p. 868: V. 92, p. 527.
The N. Y. Stock
Exchange in July 1918 authorized the listing of >4.053,000 guaranteed 4%
Refunding Mtge. bonds, when and as Issued In lieu of the remaining >4,053,000 Unified Mtge. 4s. increasing the amount thereof pledged under
Ref. Mtge. to $9 673,000 and also increasing the Refunding 4a outstanding
to >29,668,000.
V. 107, p. 402.
V. 106, p. 2011. 2222.
Tbr Unified M'trtonge Is limited to tne arnourif now.
»utst&nd1ng
Bonds
are subject to call at 110 In whole orin part.
See Refunding 4s above.
V
68, p. 618.
Mtges. on real estate, >1,680,080.
V. 70, p. 200; V. 85, p. 160;
V. 89. p. 529. 1411; V. 90. p. 098, 1640; V. 93. p. 1022; V. 102. p. 609; V.
103. p 2079
Debentures of 1917 ««« "plan" above and V. 104, p. 2452.
Government loan, V. Ill, p. 1566.
Net after taxes..
5
1,000
BONDS.—The Refunding 4s of 1903
Gross
do
1,262,000
1.601,000
a883.000
g436,000
cured by a lien on the entire road,
bonds, to retire which an equal
Jan.
do
a
M, 6s not guaranteed.
/ '82. '83-'90. '91. '92. '93. '94. '95. '96.
1
1
4 y'ly.
4H
5
5
4)4
4
4
EARNINGS.—
do
May 1 1937
Jan
1 1943
Jan
1 1945
Mch 1 1949
Mch 1 1949
5 g
5
1,656,000
2222
Federal compensation, V. Ill, p.
do
a
5 *
650,000
100,000
1,000
1,000
1,000
1.000
2452.
STOCK.—Authorized. >40.000,000; outstanding >34,110,250, of which
the Penn. RR. on Dec. 31 1920 owned $33,975,550.
V. 104, p. 361, 1899;
p
June 11938
1,000
V. 104, p. 633, 863, 1146, 1263, 13899, 2235,
106
June 1 1934 1
4 g
564.000
PLAN.—In 1917, the minority shareholders having generally surrendered
their holdings, the Penn. RR. Co.: (a) accepted In settlement of the approxi¬
mately $30,000,060 of indebtedness due it by the L. I. RR. Co. (consisting
chiefly of 4% debentures), >5,202,100 new 5% 20-year debentures, and for
the remainder capital stock at bar; (b) gave >5.202.100 5% debsd n exchange
for minority stock, > for >.
V. 104, p. 361: V. 106, p. 2222.
The debentures will be secured by any future mortgage on the prop¬
DIviDENDS.—
June 1 1932
1.000
Island Consolidated Electrical Companies
(whose entire $25,000 capitar stock is owned, none of the $10,000,000 of
collateral 4)4s of 1905 being outstanding) a one-half interest in N. Y. A
Long Island Traction Co., 42 m.. and Long Island Electric Ry., 26m.
V.
89, p. 598; V. 90. p. 1040; V. 106, p. 396, 499, 2222.
Percent
Treaa PennaRROo.NY
doALon
do
a
a
1,000
Also owns the Huntington RR., Northport Traction, Nassau County
Ry., Glen Cove RR. and Ocean Electric Ry., having combined mileage of
V
1 1922
Mch
A
3,859.000
26.060.000
5.202 100
308,000
34.03 miles, and through the Long
erty.
a
600,000
Ac
_
Treas Penna RR Oo.NY
do
do
do
do
d June 1 1938
a
Where Interest and
Dividends are Payable
July 1 1931
q—j
j
4)4 g
332.000
Ac
100
1914
—...
4 &5g
4 g
Places
Dividend
and Maturity
1,135,000
1.000
500
1903
1917
Eq tr 8er A J106.000 due yly to *23; thsn J96.000 yly
1917
Equipment trust Series B >94.000 due yearly
1920
do
do
Series C $138,000 due yearly_FP
nteed.
Leased and Controlled Lines, Principal or Interest Guara
1892
30
L I BR No Sh Br cons M >1.425,000 gu p&l-Ce.vc*
1885
19
N Y B A Man B 1st cons M >1,720,000 gold gu.-Cev
1887
N Y & Rock Beach 1st M >984,000 guar p A 1
Ce
"16 *86-'91
P P A C I 1st and 2d (>96.000 seconds) guar p A I. v
Los Angeles & Salt Lake RR—
1911
1,038
San Pedro Los A A Salt Lake 1st M >70,000,000-Gx
302
Louisiana & Arkansas—Stock >7,000,000 authorized.
1902
302
First mortgage >7.000,000 gold (text)
G.xo'Ar
1914
Equip notes >8,000 due annually
1920
Equip notes Ser "D" due $13,000 semi-ann
Q
1921
Equip notes Series "G" due $11,000 semi-ann_ __G
1895
35
Louisiana & North West RR—Underlying M gold ._x
1905
115
First mortgage >10,000,000 gold
MSt.xc*
1903
334
Louisiana Ry & Nav—First M gold
F.c&r
1897
45
Louisiana Southern—1st M g red at 105 .....—Ce.xc
mortgage
>4,730.000
3,000,000
1.490.000
>1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1.000
1881
"l8
>600,000 1st M assumed
z
Unified M gold callable at 110 J9.673.000.Usm.xcAr
Refund mtge >45,000,000 gold gu p de l__Eq.xc*&r
Debentures call aft 5 yrs 102H
usm.yyxc*Ar*.
Montauk
Last
Miles
COMPANIES
RAILROAD
[For abbreviations, &c., see notes on -page 6]
New
[Vol. 112.
EAILWAY STOCKS AND BONDS
76
$974,993
def23,103
Net.
Year ending—
Gross.
31 192U--$4,275.834
3.542.034
492.085
3.078.059
759.483
Dec. 31 1917.— 2.497,535
Pres., Wm. Edenborn, New Orleans;
31
1919...
Sippel, Shreveport; Sec., J. J.
$3,542,033
62 791
79,892
Other Inc. Int.,Tax.,&c. Bal., Def.
$677,921
$36,131
$775,819
634,388
530,028
21.621
1918—
Dec.
1919.
1920.
$4,275,834
62,624
$61,787
104.360
Dec.
Dec. 31
1920.
$980,143
773,526
259,820
-
V.-P., W. C. Morse; Treas., Paul
Tippin.—(V. 107, p.
802, 1191.)
LOUISIANA SOUTHERN RY.—Owns New Orleans La., to Pointe-a-Ia
La.
45 m.. Poydras to 8hell Beach, 16 m.; total. 67 m
Steam
for freight and gasoline motor cars for passenger service.
Operated since
June 1910 by New Orleans Texas A Mexico Ry. under 12-year lease made
Feb. 1911 to St. L. A San Fr.
In Jan. 1901 the United Ry. A Trading Co.
of New England acquired over 95% of the stock and bonds, that company
also owning the Kenilworth Sugar Estates, 10.000 acres.
V. 70, p. 703.
Stock. $1,000,000; par,$100. Divs. In 1900-01. 7%; 1901-02. 7)4
Hache
$235,685;
4)4%.
Year ending Dec. 31 1917 (as reported by lessee), gross
net. after taxes. $81,668.
Deduct hire of equipment (net), $5,759: rental,
$56,807: other, $589; balance, surplus, $19,680.
This last Item
terms of lease Is applicable first to bond interest, second to dividend of no*
under
exceeding 2)4 % on stock, the balance If any to be divided equally
lessor and lessee.
Pres., J. S. Pyeatt; Sec., Treas. A Aud., M.
Office, New Orleans.
between
Eckert.
La.—(V. 95, p. 618.)
WESTERN RR.—(See Map o] Southern Pacific).—*Owns
from Lafayette, La., to Sabine River, 105 miles: Abbeville to Macnou, 68 m..
Mallard Jet. to Lake Arthur. 34 m.; total. 208 miles.
Operated Indepen¬
dently.
Annual compensation under Federal contract, $895,178.
y . 108,
p.
974.
Southern Pacific owns all the $3,360,000 stock.
Dividends:
In
1905-06 and
1906-07,
10% yearly; in 1907-08. 85%; In 1908-09.
20%; 1909-10 and 1910-11, 15%: 1911-12. 10%; 1912-13
10%; 1913-14.
10%; 1914-15. 10%; 1915-16, 15%; 1917. 15%; 1918, 15%; 1919, 15%.
LOUISIANA
Year 1919, standard return,
$895,178; other income, $146,625;
int.and other
$231,214; divs. (15%). $504,000; bal. sur.
$306,590.. For
1917, gross, $3,653,550; net, after taxes. $1,480,230; grossi income
$1,615,126; charges (incl. int. on bonds and notes, $134,400). $154,999;
divs. (15%). >504,000; bal., surplus, $956,128.—(V. 103, p. 1210; V. 107.
p. 402.)
deductions,
cal. year
May, 1921.]
EAILWAY STOCKS AND BONDS
RAILROAD
[For abbreviations,
COMPANIES
&c.,
see
notes
on
Miles
page
6]
Road
Date
Par
Amount
Rate
When
Last
Dividend
Value
Bonds
Outstanding
%
Payable
and
Maturity
Louisv Hend & St Louis—1st M $2,500,000 gold—G.z
First Consol M $5,000.(K)0 gold
Louisv & Jeff Bridge & RR—$5,000,000 ggup&i_xc*
Louisville A Nashville—Stock $72,000,000
L C & Lex Gen mtge gold (V 63, p 1010)
G.xc*
182
176
1881
New Orl & Mob Dlv 1st M N O to Mobile g
F.zc*
Second mortgage gold
xc*
Southeastern & St L Dlv first mtge g call (text) _xc*
Second M gold East St Louis to Evansv <fc or.xc*
1,000
141
1880
1880
1,000
1896
1915
$500
1895
182
"l'ooo
141
254
Pen & At 1st M gold drawn 110 assumed
Atlanta
1902
1.000
1890
179
1895
160
1881
1881
1887
10
105
M
Knoxhdlle & Nortnern first mtge
1886
1913
1895
1921
1887
Text
xo*
$25,000,000 g guar
Us.xc*Ar*
Newp & Cln Br 1st M g s f assuin gu by Penn Co.F.x
L & N—Southern Ry Monon Ooilat Joint M $15.500.000 (see text)
call
105
G.xc*<fcr
Lexington A East 1st M $20,000.000assumed N.yc*
Kentucky Central 1st M ($7,000,000) gold._Mp.zc*
cons
1,000
1,000
1,000
1,000
1,000
1,000 Ac
1,000
1,000
1.000
1,000
1,000
1,000
1,000 Ac
1,000
1881
1888
Henderson Bridge Co 1st M gold drawn 105.Ce.xc*
Nashv Flor & Sheff 1st M g assumed In 1900.Ce.xc
Paducah A Mem Dlv 1st M $5,000,000 gold. Ba.xo*
Sou A Nor Ala 1st M(V 97, D 1204,1426)g guCe.xc*
Gen
1896
202
First M (50-year 5s) $15,000 per mile eold—Us.xo*
First mtge collateral trust ($7,000,000) gold—F.zc*
Unified mortgage for $75,000,000 g
Ce.xc*Ar»
Mobile & Montgomery Joint M $5,000,000 g__Ce.xc
202
213
gold.Ce.x
228
do
consol M gold $10,000 p m.Us.x
L A N—Atl K A C Dlv M $50,000,000—Us.xc*Ar*
L & N Term M $3,000,000 gold guar Jointly _Ba.xc*
228
do
do
FL.xc*
1 J
t
P
Morgan
A
Co,
do
1 1930
1 1930
1 1971
do
do
do
do
do
do
do
do
Feb
do
do
1 1946
do
do
do
do
1 1963
do
July 11945
do
do
Oct
g
do
do
Aug 11930
do
do
'■
do
do
A
tic
4g
J
A
1,000
1,000
1.000 Ac
r$999.000
bA s
\ g
i g
4 g
J
A
D Dec
M
A
s24.745.000
M
A
J
A
M
&
M
&
S Mar 1 '22 to '36 New York
J
A
J
J
A
J
A
J July 1 1940
J Jan
1 1947
J
A
J July 1 1965
""l'ooo
A
t2,500,000
7,500,000
1,300,000
9,770,600
425,000
1920
1921
5g
500.000
1,000
500 &c
1,000
P
Y
do
Aug 11921
Sept 1 1931
Aug 1 1937
4 g
N
do
May 1 1937
N Nov 11931
J July 1 1940
Sept 1 1945
A
Y
do
do
do
Mch 1 1980
A
N
do
do
do
Moh
ig
o5,898,000
Ac
1965
p7,870.000
1920
due $25,000 annually
Series D, due $735,000
Jan
Jan
5 g
5 g
4X
1
Payable
Bk of Amer. NY;A Louis
New York
Mch 1 1945
J
Feb 10 19213 H
Nov 1 1931
?*
m9,292 000
n7,400,000
1,314.000
July 1 1946
Oct
4 g ■
4,500.000
72.000.000 7 In 1920
4 H g
3.258.000
6 g
b4.989.000
1,000.000
« e
3,500,000
c2.997,000
? g
dl,749,000
e4.705,000
A
g
4 g
f64.764,000
4.000.000
4H g
h893,000
2 '
*469.000
k1,996,000
5g
kk4 619.000
Where Interest and
Dividends are
a6.702,000
1902
Ba.c*
J
Places
1,000
1905
Secured gold notes redeemable (see text)
Equlpt certs g ser A due $325,000 »-a
do
do
due annually
A
1,000
1896
1902
870
5 g
5 g
July 1 1952
O Apr 1 1965
J July 1 1987
1915
1887
247
$2,500,000
700.000
100
...
208
208
202
77
5 g
S>8
LOUISVILLE HENDERSON & ST. LOUIS RY.—ROAD.—Loulsrllls
Henderson, Ky., 144 miles (including 6 miles trackage); Irvington to
Fordsville, Ky., 44 miles; L. A N. trackage. Henderson, Ky., to Evansville, Ind., 12 miles; total, 200 miles.
Louisv. A Nashv. on Dec. 31 1920
owned $1,591,462 of the $2,000,000 5% non-cum.
pref. and $1,741,871 of
the $2,000,000 com. (par $100).
V. 94. p. 207; V. 95. p. 1274; V. 96. p. 653.
In Oct. 1915 filed a $5,000,000 1st consol. M.
bond, $2,710,000 reserved
to retire 1st M. 5s at maturity; $700 000 sold forthwith and
$1,590,000 re¬
served for future extensions and additions.
V. 103, p. 1882; V. 101. p.
1370.
There are $50,000
4H% equipment notes of 1912, Series A, due
$30,000 yearly Sept. 1921 and 1922 and (Dec. 31 1920) $110.000 misc. obligs.
Federal Compensation.—$343,915 53 yearly
during Federal control.
REPORT.—For cal. year 1920: Gross, $2,665,581; railway
oper. income,
$237,223; gross income, $538,190; deductions, $294,575; net Income,
$243,615.
Pres., E. H. Bacon; V.-P., W. L. Mapother; Sec., Ridgely Cayce;
Treas., L. W. Botts.—(Y. 112, p. 1978.)
Co,
do
do
do
do
1922 to 1936
$15,000;
$708,000
July 1 1921 2% Office Broad St Sta.Phila
No coupons ever
paid
New York Trust Co, N Y
Columbia Trust Co. N Y
$424,000; f $5 ,140,000; g $1,512,000;
o $15,500;
;n $3,391.000;
p $2,625,000;
e
—Jan.
EARNINGS—
1-Mar.
1921.
31-
-Jan.
1920.
1 -Dec.
311919.
1920.
Gross
..$28,690,065 $30,947,273$126,371,693$107,514,965
Net after taxes......def. 1,509.650
3.030,364
1,324.556
11.954,200
REPORT.—For cal. year 1920, in V. 112, p. 1609, 1756, showed;
1920.
"Standardreturn"...
Income from other
1919.
1918.
...*$14,288,979 $17,298,920 $17,310,495
2,588,219
2,680,200
2,512,826
sources
Gross income
..$16,877,198 $19,979,120 $19,823,321
T $222,198
$164,032
$168,692
45,846
46,257
42,002
8,170,847
7,410.430
7,449,828
65,475
241,227
71,899
505,004
921.220
803,650
20,107
137,242
96,815
142,857
89,412
170,319
5.040,000
5,040,000'
5,040,000
Deduct—Rents for leased lines
Miscellaneous rents A tax accruals._
Bond. Ac,, Interest
Corporate
Federal
expenses.
taxes
Accrued premiums on s. f. bonds
Sinking funds, Ac
LOUISVILLE & JEFFERSONVILLE BRIDGE & RR. CO.—One-half
Dividends (7%)—
Jointly and severally
by the Chesapeake A Ohio and Cleveland Cincinnati Chicago A St. Louis, in
whose Interest the stock is owned, and any deficit is
payable In the propor¬
tion of one-third and two-thirds
raspectively.
Pres., A. P. Humphrey;
Sec., M. L. Akers; Treas., R. N. Harry.
See V. 60, p. 130; V. 61, p. 327,
559; V. 62. p. 84.—(V. 112, p. 562, 653 )
Railway revenues
Net, after taxes, &c
mile long; approaches 2 miles; overhead viaducts
1miles, with connecting
lines in Louisville; 40 acres in Louisville and about 60 acres In Jeffersonville.
Stock, $1,425,000; mtge. for $5,000,000; bonds for $500,000 are reserved
for future construction. Ac.; the bonds are guaranteed
A
do
N May 1 1955
D Deo 1 1952
g
do
do
annually..Us
1921
1,000
11,025.000
g
Louisville New Albany & Chicago—See Chicago India napoll * A >4 ulsvllle.
Lykens Vail RR & Coal Co—Stock—Rental pays4%
20
20
4
600,000
Macon & Birmingham—First M $500,000 g
OB.xc
97 1896
500,000
1,000
Macon Dublin & Sav—IstM $1,840,000g gu._N.xxc*
03 1907
1.000
5 g
1,791,000
Macon Terminal—1st M $3,000,000 g gu_Colc»Ar*
1.000
1915
1.600.000
5 g
b to J: Also held in treasury or by Bankers Trust Co., truste
e, Dec. 31 1920. b $11,000; c $8,000;d
h $93,000;
j $126,000;
k to t: Also in treasury Dec. 31 1920 k$100,0 00. k k$217 ,000;
m
q $40,000.
r $1,000.
s $5,740,000.
t $101,000
to
71 Broadway, New York
Morgan
Broadway,"New "York
71
1 1946
1 2002
S Mch
P
do
N May 15 1930
J P Morgan A Co, N Y
J
D Dec '21-June' 23
A
do
do
J & J 15 To Jan 15 1935
6
6^
6 Yi
J
Balance,
surplus
$2,718,368
...
Calendar Years—
on
1915.
—
Ac
...
funded debt
Sinking funds
Dividends
LOUISVILLE & NASHVILLE RR.~(See Map.)— ROAD .—Operates
line, Cincinnati. O., to New Orleans, La., 921 m.; branches to St
Louis. Memphis. Ac., 4,122 m.: total, Dec. 31 1920, 5.043 miles, via.
$5,809,037
1916.
—
Gross income
Deduct—Rents,
Interest
$6,046,869
1917.
.$76,907,387 $64,928,120 $54,026,979
.$18,775,430 $20,439,866 $13,275,690
.$24,978,643 $25,689,971 $16,916,312
$1,019,598
$1,006,619
$1,066,165
7,495,030
7,621,067
7,618,878
82,515
99,474
94,367
(7%)5,040,000 (7)5,040,000 (5)3,600,000
—
—
....
main
Miles.
Miles.
Owned, property deeded
4,273 Operated under contract
39
Entire capital stock owned
450 Under trackage arrangements
143
Operated under lease
134
do
(owned but leased).
5
Reporting Separately [Making 7,696 Miles Owned and Associated Jan. 1 1921).
Nashville Chatt. A St. Louis....993 Other lines
44
•Georgia Railroad System
565 Owned but leased to other cos... 25
•Louisville Hend. A St. Lonls
do
182
Paducah A Mem. Div
24v
•Chic. Indianapolis A Loulsville.658 Deduct (incl. in trackage
above).. 65
.
Balance,
•
See separate statements for these companies.
Control by Atlantic Coast Line.—Late In 1902 the Atlantic Coast Line RR
acquired $30,600,000 of the (then) $60,000,000 stock and owns $30,720,000
of the present $72,000,000 stock, but the roads are
operated independently
V. 74. p. 830, 1038; V. 75. p. 733, 1399.
DIVS.
r01-'04. '05-'07, 1908. *09. *10 to '14. *15. *16, *17to'20.
'21.
Since 190015 y'ly
6 y'ly
5H
5)4
7 y'ly
5
6,
7 yrly
text
In
Mtge.
Y. 88,
bonds
d.
of
229.
1880
421;
were
"Unified" mortgage, $75,000,000, of which $41,917,660 was reserved to re¬
tire all prior liens (none of the
prior liens can be extended), the balance for
Improvements, extensions (at the rate of $32,000 per mile, including equip
ment), and for other purposes.
The mortgage covers (besides 1,994 miles
of
road and equipment), $26,473,606 stock of
companies controlled and
$3,150 000 bonds free from any Hen.
See abstract of mortgage In V,
51,
p. 613; also V. 72, p. 1034,1188; V. 77, p.968.
In Dec. 1919, of $69,922,000
issued, $5,140,000 were pledged as security for the 7% notes of 1930 and
$18,000 in sinking funds.
Mobile
A
Montgomery—Louisville A Nashville Joint mortgage Is for
$5,000,000; $1,000,000 reserved for Improvements.
V. 61. p
196. 750
Kentucky Central 4s.
V. 45, p. 372.
Lewisb. A Nor., V. 101, p. 1272.
Louisville A Nashville Terminal
4s.—Jointly guaranteed, prin. and int.;
by L. A N. and Nashv. O. A St. L.
V. 88, p. 1313. Co. owns $101,000.
The Louisville A Nashville Southern Rv. Monon Collateral Joint Gold 4%
bonds are secured by $9,790,900 of the $10,500,000 Chic.
Indianapolis A
Louisv. common and $3,873,400 of the
$5,000,000 pref. stock.
V. 74, p.
1138; V. 76. p. 593.
Of the $15,500,000 joint bonds $11,827,000 had tees
Issued to Dec. 31 1920. each company being liable for $5,913,500, but own¬
ing thereof $15,500, leaving outstanding for each $5,898,000.
The re¬
mainder Is reserved to acquire remaining "Monon" stock and for Impts., Ac.
The Atlanta Knoxvlile
a
Cincinnati division 4s ($50,000,000 authorized;
cover 870 miles.
Of the bonds, an equal amount were reserved to retire
at maturity underlying bonds, viz.:
Kentucky Central 4s, $6,742,000:
Atlanta Knoxville A Northern bonds, $1,500,000; $5,000,000 are
peldged
to secure the 7% notes of 1930.
The line from Livingston to Jellico, 61
miles, is subject to prior lien of Unified mortgage.
V. 80, p. 872; V. 84, p.
1428; V. 92, p. 1178, 1311, 1565; V. 96, p. 716, 1022.
The $3,500,000 Southeast A St. Louis Div. 1st Mtge. 6s were
purchased
at maturity. March 1 1921, at office of J. P. Morgan A Co.
In connection
with this purchase there were issued $3,500,000 6% bonds due March 1
1971, but callable on and after March 1 1930 at 107 and int.
The new bonds
will be secured by a first mtge. on the So. East. A St. Louis Ry.
property.
Of the South A North Alabama RR. Gen. Consol. 5a ($25,000,000 auth
issue), $7,400,000 have been sold, guar., prin. A Int., by the L. A N.;
$10,000,000
are reserved
to
retire
the
1st
5s of 1886;
remainder for Im¬
provements. equipment, Ac.
$3,000,000 are pledged as security for the
7% notes of 1930.
V. 98, p. 454, 156, 1001.
Lexington A Eastern 5s were assumed in 1917 (authorized,$20,000,000).
V. 101, p. 1272; V. 102, p. 1163; V. 104, p. 1489. V. 106, p. 296, 390.
The 7% notes of 1920 are secured by
deposit of the following: $5,000,000
L. A N. RR. Unified 4s of 1940: $5,000,000 L. A N. RR., Atl. Knox. A Cln,
Dlv. 4s. 1955; $200,000 South A North Ala. RR. Consol. 5s of 1936;
$3,000,000 South A North Ala. Kti. Gen. Consol. 5s of 1963.
Red. on and
after May 15 1923, all or part, at 100 and Int. plus a premium of 1 % for each
year or portion of a year from the date fixed for redemption to maturity.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Federal Compensation.—$17,310,494 67 yearly during Federal control.—
VB 108, p. 1165, 1390.
Government loan, V. 112, p. 1978.
$4,536,902
_
...
BONDS.—The remaining $117,000 Gen.
called for payment at 110 on June 1 1920.
$11,941,499 $11,922,810
$3,031,341 Federal compensation for 2 mos., $9,194,718 for
6 mos,' guaranty period and $2,062,920 net oper. income for 4 mos.
OFFICERS.—Chairman, Henry Walters, N. Y
...
1921: Feb. 10, 3%%
Also In 1908 1% In Louisville Property Co. stock.
surplus..—
•Includes
;
Pres
,
W. L. Mapother;
V.-Pres, & Gen. Counsel, Edw. S. Jouott; Sec., E. S. Locke; Treas., J. H.
Ellis.
Office, 71 Broadway, N. Y.—(V. 112, p. 258, 653, 849, 933, 1024.
1144, 1283, 1609, 1756, 1866, 1978.)
LYKENS
VALLEY RR. & COAL CO.—Owns from Mlllersburg. Pa.,
Williamstown, Pa., 20.43 miles.
Was leased to Northern Central for 99
from July 1 1910; annual rental, $24,000 (equal to 4% on stock)
to
years
organization expenses and taxes.
In 1920 operated by Penn. RR. Co.
under agreement of lease dated July 29 1914 (retroactive to Jan. 1 1911).
yt 92, p. 527.
/
MACON &
96 70 miles.
BIRMINGHAM RY—Owns Sofkee Jet. to La Grange. Ga.,
7.03 miles of G. S. A F. Ry. and 1.10 mile of C. of Ga. Ry.
Sofkee and
Macon operated
under trackage rights.
V. 101,
between
449.
In 1908 a receiver was appointed; now H. W. Miller.
V. 86, p.
In year 1920, gross, $290,523; net, after taxes, $23,765; other income,
$12,892; interest and rentals, $55,785; bal., def., $19,129.—(V. 101, p. 449.)
p.
337.
MACON DUBLIN &
Vldalla, Ga., 92 miles.
jjar
SAVANNAH
RR.—Owns
road
Macon
from
to
Stock, $3,200,000 auth.; outstanding, $2,040,000
Seaboard Air Line Ry. guarantees bonds, prin. and Interest.
$100).
Bonds, Series 1506 to 1529 IncL, have clause "Fedora! Income tax, If any
V. 89, p. 43: V. 84, p. 102 , 450;
$670,566; net, $6,165; other income,
$9,950; deductions, $30,307; bal., def., $14,192.
Pres., James A. Blair Jr.,
N. Y.; Sec. & Treas., Geo. M. Norwood.—(V. Ill, p. 493.)
on same. Is to be paid by
purchaser."
V. 106, p. 1126.
For year 1919, gross,
MACON TERMINAL CO,—Building, tracks, Ac., at Macon, Ga., com-
Sletad and Is usedlinesCentral of Georgia, Georgia Southern A Florida and
outhern Ry. (all by
entering Macon), which own the $100,000 stock and
guarantee
basis
the bonds, prin. and Int., by endorsement.
Rental on wheeiage
int. on bonds & all chges.
V. 101, p. 1886.—(V. 101, p. 1886.)
covers
MAHONING COAL RR.—Owns from Youngstown to Andover. O., and
branches. 71 miles.
In December 1907 purchased a one-half interest in
the Lake Erie A Eastern RR. In Youngstown, Ac.
Leased
Central),
LATE
f
__
.
_
.
com.
Uo yrly 12 yrly
66
70
20
70
60
See text
Dividends 1915-20, 20% yly. (10% s.-a.) with 30 extra In July or Aug.)
Also paid an extra div. of 60% In May 1920.
The 5% pref. stock guaranteed is callable at par. See V. 107, p. 1579.
On
_
.
—(V. 110, p. 1642. 2568.)
MAINE CENTRAL RR.—(See Map). Portland to Vanceboro, Me., via
Augusta, 266 miles (incl. trackage Portland to Falmouth, 7 mi.); branches,
Royal Jet. to Skowhegan via Lew Is ton, 90 m,; Bath to Lewlston and Farmington, 79 m.; Oakland to Kineo Sta., 9l m.; Portland and Rumford Falls
8ystem, 103 m.; Oquossoc to Kennebago, 11 m.; Bath to Rockland, Incl.
ferry (0 60 m.), 49 m.; Belfast. Harmony, Foxcroft, Bucksport and Mt.
Deeert, Incl. ferry (7.7 m.), 157 m.; Washington County, 139 m.; Portland
to 8t. Johnsbury, Vt., 138 m. Incl. trackage, 01 lm. St. Johnsbury
8ta.,
and 8.27 m. from Portland Union Sta. to Windham Line, Me.;
Quebec
Jet., N. H., to Lime Ridge, P. Q.. 108 m.; total Dec. 31 1920, l,21o miles,
of which 654 owned, 546 operated under leases and 15 trackage.
Valu¬
ation, V. 112, p. 62.
FEDERAL CONTRACT.—The Federal contract, signed in Dec. 1919,
fixed the company's annual compensation at $2,955,696. V. 109, p. 2263.
STOCK.—The stockholders In 1915 authorized retiring $10,000,000 of
the outstanding stock and Issuing in place thereof $3,000,000 5% non-voting
cum. pref. stock and $7,000,000 First A Ref. 20-year
4Hs.
Y. 101, p. 923.
1370.
1465.
The common stock was thus reduced to $14,888,400.
See
bonds below.
V. 101, p. 1628, 1714.
The majority interest in the stock
formerly owned by the Boston A Maine was all disposed of In 1914-16,
through the Maine Railways Companies, and trust woundup.
V. 98, p.
312. 1071; Y. 102, p. 1250; V. 103. p. 1407.
,
DIVIDENDS— J
On
common
*04-'08.
stock.I 7 y'ly.
The directors
on
Nov.
10
'07.
7\i
08-'10.
8 y'ly.
*11.
7M
,
,
_
1912 to Oct. 1920
0 yearly (l HQ-J)
dividend.
1920 deferred action on the pref.
78
railway stocks and bonds
[VOL. 112.
MAY, 1921.]'
RAILWAY
RAILROAD
see
notes
on
page
Date
Par
Amount
Rate
When
Last
Dividend
Road
6]
Bonds
Value
Outstanding
%
Payable
and
Maturity
71
71
Mahoning Coal RR—Stock. Common
Preferred stock
(see text)
First M Youngs to And &c guar d & I (end)_.Un.zc
Maine Central—Com stock and scrip ($15,000,000).
Pref stock 6% cum non-voting,
$1,500,000 See text. F
50
1884
63
1,000
100
100
$3,000,000
41
1883
1.000
1st A Ref M $25,000,000 call at 102 & Int
c*Ar*
Maine Central Eur & No Am refunding mtge gold_z
411
Washington County 1st M g gu red
Ce.zc*
Somerset Ry Consol M g ($247,500 were in treas)_z
First and Refunding mtge $1,500,000 gold__ABz
139
1015
1893
1904
1,000 Ac
1,000
1,000
42
1900
66
94
500
1905
1.000
First M Dexter to Foxcroft guar by end
BBz
Hereford Ry stock (rental 999 years)
First mortgage guar prln and Int (endorsed) ...z
100
1908
100
1889
17
1,000
53
100
1890
53
1,000
126
55
European & Nor Am stk 5% rental 999 years
Upper Coos RR stock 6% rental 999 years
A; Lz
Eastern Maine stk 4*4% rental 999 years.
....
Belfast & Moosehead Lake common stock, rental..
100
100
500
1890
55
14
19
1st M and Exten M ($693,000 4Xa) guar p
Dexter & Newport stock 5%
do
2,494,100
350,000
1.043.000
122,000
200,000
&c
100
100
A
4 g
M
Payable
are
4*
A
\
6
A
&
N Y, Boston A Portland
Treas office, Portland
N Y, Boston A Portland
D
N May
5
A
6
A
4 A 4X
A
A
4 W
do
D
&
N
A
5
do
do
1955
July 1 1929
May 1921
2%
1 1930
Apr 1 1921 2X
May 1921 3%
May 1 1930
Jan 1921 2X%
N May1921 2X%
A
4
-
do
do
28 May 31 '21 X% Maine Cent Off, Portland
N Y, Boston A Portland
N Nov 1 1928
Jan 1 *21 2H% Office, Dover, Me
4
380,400 3.9 in '20
6
267,700
preferred stock, rental
J July 1
4
-
do
N Y. Boston A Portland
J 15 To Jan 15 1935
&
N Oct 27 1935
-F
2
1 1933
1 1954
J Jan
J2 July 2 1950
A
J &
4,392,538
2,119,000
122,000
175,000
800,000
800,000
1,000
17
J Jan
A
A
1.122,800
1,653,000
110
110
4 K
4 g
•
1920
Guaranteed Securities—
Portland & Ogdensburg stock (2% rental 999 yrs)_.
1st M g uar prln & int end (V. 86, d. 1285)
1
Dexter & Piscataquis stock 5% rental 999 years..
Where Interest and
Dividends
A Feb 1 '21
&
3* g
1,000,000
2,500.000
T
172,500 ■I
864.000
dec
1920
Equipment gold notes, due serially Jan 15
15-year notes to United States
Places
Grand Cent Term. N Y
10%
J
A
J Jan 3 '21 2^%
5
Cent Union Tr Co. N Y
661,367
J
A
J July 1 1934
5
do
do
1,500,000
Text
text
Oct 1 1920 IX Office, Portland, Me
14,888.400 See
Text
3,000,000 See text
Sept 1 1920 IX
A
D June 1 1923
5
American Trued, Boston
562,000
A
D Dec 1 1935
N Y. Boston A Portland
4X A 5
16,000 O00
$50
Collateral trust bonds for Mt Desert Branch.AB.zc
do
79
BONDS
Miles
COMPANIES
[For abbreviations, &c..
STOCKS AND
Treas office,
Bangor, Me
Office, Portland, Me
N Y, Boston A Portland
Treasurer's office, P'tl'd
Office, Rockland, Me
Portland Terminal Co.—See that company.
Portland & Rumford Falls RR—See that company
Rumford Falls A Rangeley Lakes RR Co—See that compa
Manch. & Lawrence—Bonds—SeeB & M RR above
37
Manhattan (Elevated) Ry, N Y—Stock $60,000,000..
Manhattan Elev cons (now 1st) mtge gold_Ce.xc*&r
37
37
2d M $5,409,000 g call at 105 (see text)
Eq
Manila—1st M Sou Lines g Int gu s f red 110F-- xc*&r*
do
do
sinking fund
New 1st M A Ref on Nor Lines $13,236,000
Ce
Bonds of Underlying Co. in Hands of Public—
Manila Ry
A" debentures call 105
do
"B" debentures 4% reduced to 3X%-68
Manistique & Lake Sup—Inc M 4% n-c $1,300,000 _z
ny
1913
1909
LOOO
&c
1916
£20 Ac
1906
£20 Ac
1909
Guarantees bonds and notes of Portland Terminal Co. See that company
Equipment trusts issued to Director-General for rolling stock allocated
See article on page 3.
Govt, loans, V. Ill, p. 1370, 2228; V. 112, p. 372.
EARNINGS.—
1921.
1920.
$5,658,138
$3,987,639
def.1,130,201
\Net after taxes
def.1,166,309
ANNUAL REPORT.—For cal. year 1920 shows:
Income Statement Showing in 1918, 1919 and 1920 Combined
and
Corporate,
Calendar Years—
Excluding
Results, Federal
United States Rental.
Operating revenues
Operating income
1920.
1919.
1918.
$21,357,508 $17,525,178 $16,415,178
def 2,485,330 def1,185,835 def 518,426
Gross income
def. 1,904.227def.761,005
Interest
on
Rentals,
funded debt.
&c
Preferred dividends (5%)
Common dividends (6%)
941,641
1,642,219
150,000
720,888
1,014,423
1,372,169
112.500
540,666
def.134,754
805,872
1,474,600
150,000
720,888
1917.
$14,125,577
2,722,379
3,163,913
816,609
1,245,779
150,000
720,888
Balance, sur. or def.def.$4,943,985def$4215,753def$3286,114
$230,637
Pres., Morris McDonald; V.-P. A Gen. Mgr., Dana C. Douglass; V.-P.,
G. S. Hobbs; Treas., L. M. Patterson.—(V. 112, p. 372, 933, 1283.)
MANCHESTER
&
LAWRENCE
RR—See Boston
A Maine RR.
MANHATTAN RY. (ELEVATED).—Owns all the elevated railroads
in
boroughs of Manhattan and the Bronx, N. Y. City, main line and branches,
miles of 2d, 3d, 4th and 5th track, sidings,
Ac.; total track, 130.19 miles; 3d rail electric.
The 2d, 3d and 9th Ave.
lines,, under agreement with the city made in March 1913, have been largely
3-trifeked, the Interborough Rapid Transit Co. supplying funds.
LEASE.—The Interborough Rapid Transit Co. leases the road for 999
years from 1875, guaranteeing 7% p. a. on stock.
V. 108, p. 171; V. 75, p.
1202, 1302; V. 76. p. 212; V. 79, p. 2456; V. 96, p. 791.
Guar., Y. 76.P.480.
Status of stock, Ac., V, 108, p. 1610.
Payment of April 1921 div., v. 112,
p. 1617.
Statements by Pres. Alfred Skitt and Stone A Webster regarding
ease and consequences of physical separation from I. R. T. Co., V. 112,
p. 1741.
Stockholders'
Committee.—Alfred
Skitt, Chairman, William A. Day,
AMn W. Krech, J. H. McClement, Starr J. Murphy and Frederick Strauss.
V, 109, p. 1891.
37.67 miles, with 92.52
IX 165 Broadway, N Y
D June 1 2013
1,000
to this company.
to/Gross
O Apr
A
"""i',666
1906
times all Interest charges, Including the bonds to be issued.
A
miles of road, including the line running from
entire
stock of Portland Term. Co., and a
second mortgage on about 88 miles.
V. 102, p. 976, 1163,1250; V. 108, p.
480; V. 106, p. 1453, 1689.
The I.-S. C. Comm. in Oct. 1920 approved the application of co. for
authority (a) to issue $3,619,000 1st A ref. mtge 6% gold bonds. Ser. "D";
(b) to pledge $2,067,000 of these bonds with the Secretary of the Treasury as
security for loans by the Government; (c) to pledge $1,152,000 of the bonds
as security for a loan for the financing in part of certain acquisitions of
equipment, additions and betterments; also (d) to pledge $400,000 worth of
the bonds as security for a loan to redeem certain other bonds of the Knox
A Lincoln Ry. maturing Feb. 1 1921 (paid off).
There are also $188,000 Maine Shore Line 6s assumed, due 1923.
1
A
J
Q—J
Apr 1 1921
1 1990
do
2
5 g
4
Pledged
£2,000,000
£1,880,000
J A J
ZX
15
do
4 MAS Aug
1.100,000 Up to
do
New York
London
1956
15
15 Jan
A AO 15 Jan
do
Philippine Nat. Bk.
MAN May 1 1959
J
A
J July 1 1956
4
.•
do
do
MAN See text
See text
1917
IX
Mar. 31.
A
4 8
13,903,000
Ac
first mortgage on about 323
Portland to Bangor and on
Jan.
7
4 g
4,523,000
1,000
BONDS.—The 1st A Ref. Mtge. is limited to $25,000,000; $1,700,000
are reserved to retire underlying bonds; $2,300,000 for any lawful purpose;
and $5,000,000 may be issued only for .improvements when the earnings
are
60.000,000
40.683,000
100
1890
1956
Detroit
1 1934
In June 1917, under agreement of sale ratified Sept. 8
Northern Lines First Mtge. 6% bonds and $7,716,000 2d
1916, $4,330,000
Mtge. 7% bonds
In lieu thereof there were Issued $13.236,000 Manila RR. Oo. Refunding Mtge. 5% 40-year gold bonds, dated
July 1 1916, a first lien on the Northern Lines and, subject to the Southern
Lines First 4s, a lien on the Southern Lines.
The entire issue is held and
pledged by the Manila Ry. Co. (1906), Ltd., as below stated.
It was also arranged to apply not over £590,000 of the $4,000,000 pur¬
chase price to payment of loans of Manila Ry. (the English co.), canceling
the A A B deb. stock pledged therefor and so reducing the nominal issues
of Its deb. stock (and bonds) to the amounts theretofore sold, viz., £2,000,000
Class A 4% and £1,880,000 Class B. the interest rate on the latter being re¬
duced from 4% to 3X%>
The A and B Issues thus to be first and second
charges, respectively, on the $13,236,000 new 1st M. 5% 40-year bonds of
the American co. and on about $2,000,000 Southern Lines 1st M. 4s.
See
also V. 102, p. 2166; V. 103, p. 145, 493. 1032; Y. 103, p. 1888,
Earns.
Gross.
Net.
Total Income.
Charges.
Balance.
1919
$5,400,163
$1,432,371
$1,517,217
$1,371,009
sur.$146.208
1918
$4,689,755
$1,384,182
$1,490,819
$1,366,448
sur.$124,371
Pres., Manuel Quezon, Manila.
Gen. Mgr., E. J. Westerhouse, Manila.
Non-resident Secretary. L. V. Carmack, Insular Bureau, Washington,
D. O.
Corp. office, 15 Exchange Place, Jersey City.—(V. Ill, p. 389.)
were
canceled
as
of July 1
1910.
MANISTEE & NORTHEASTERN RR.—Owns from Manistee, Mich., to
Traverse City, 71 m.; Solon to Provemont,
15 m.; Platte River to Empire,
Jet., 17 m.; other, 80 m.; sidings and spurs, 53 m.; leased, 1 m.; operated
under contract, 6 m.; total, 243 miles.
The Michigan Trust Co. of Grand
Rapids was appointed receiver Dec. 28 1918. the road being unable to meet
prin. and int due Jan. 1 1919 on its bonds.
V. 108, p. 79, 268.
Co¬
operative contract signed Sept. 29 1919.
V. 109, p. 1366.
Bonds, see V. 88, p. 375, 823; V. 90, p. 1363.
Stock, $2,000,000.
REPORT.—For year ending Dec. 31 1917—see V. 108, p.
Gross.
Net.
Tot.Inc.
Charges.
Cal. Year—
$547,771
$32,682
$58,035
$66,471
1917
483,161 def.9.745
16,531
68,475
Pres., Edw. Buckley, Manistee, Mich.—(V. 109, p. 1366.)
1918
2011.
Balance.
def. $8,435
def. 61,943
MANISTIQUE & LAKE SUPERIOR RR.—Manistique. Mich., on Lake
Michigan, northerly to Evelyn, 42 m.: branch to Doyles, 15 m.; V. 81, p.
975; V. 87, p. 97; V. 89. p. 470.
The Ann Arbor RR. In Apr. 1911 ac¬
quired the entire $250,000 stock.
V. 92. p. 1109.
Bonds auth., $1,300,000 25-year 4% non-cum. incomes.
Oa Dec. 31 1918, gross, $195,048; net,
$7,792; taxes (lncl. war), $6,620; other income (deb.), $7,454; net deficit,
$6,283: Government compensation, $21,558.
For 1917, gross, $186,647;
net, after taxes, $31,522.
Pres., Newman Erb, Toledo, O.: V.-P. A Gen.
Mgr., E. F. Blomeyer, Minneapolis, Minn.—(V. 110, p. 1089.*
MAN1TOU & PIKE'S PEAK RY—Manltou, Col., tosummlt of Pike's
Peak, 8.9 miles; standard gauge.
Operated from April to November yriy.
Stock, $500,000; par of shares. $100.
Div., 40% paid In 1913-14; 1915,
Sept., 10%; 1916, none.
For year end. Dec. 31 1920, gross, $88,956; net,
loss,$33.918;other income. $900; bond Int., $25,000; miscelL, $897;
Pres., H. J. Holt, Manitou, Colo.—(V. 106, p. 2011.)
def.,
$58,915.
MARION & RYE VALLEY RY.—Owns Marion to Sugar Grove, Va..
18 miles.
A reorganization in June 1900.
Controlled by United States
8pruce Lumber do.
Stock. $100,000. par. $100.
Dividend 1915, 6%.
Bonds, $175,000 6s, see table above. V 96, p. 1472.
Pres. A Gen. Mgr.,
J. C.
Campbell;
Treas., L. A. Amsler, Aud; B. S. Charlton
112, p. 653.)
Marion, Va.;
1
BONDS.—Consols beyond $40,000,000 may be issued for extensions at
$300,000 per mile of single and $600,OCX) per mile of double track.
Of the
O. H. Miller, Fairmont, Va.—(V.
bonds. $12,712,000 are tax-exempt.
After all the $5,409,000 2d M. bonds
have been issued, all further capital expenditures must be financed by the
Interborough R. T. Co.
V. 103, p. Ilf8- V. 51, p. 248; V. 87, p. 285.
In Feb. 1916 $4,523,000 4% 2dM. bonds were sold to reimburse thelnter-
Fields, via Marshall, Tex., to Winnsboro, on M. K. A T., 92m.
On Jan.
25 1917 Bryan Snyder, Marshall, Tex., was made receiver.
In 1918 the
Winnsboro A Gilmer RR. purchased 30 miles extending from Winnsboro
borougn R. T. Co. for improvements and additions furnished under lease,
The 2d mtge. is made superior in lien to the lease to the Interbor¬
ough. V. 106, p. 822: V. 103. p. 1118; V. 102. p. 609, 712, 800; V. 97, p.
1115. 1504.
In 1907-09 Dald franchise tax 1900 to *08 ($4,876,545)
Ac.
V.
REPORT.—See report of Interborough Rapid Transit Co. for 1919-20.
Ill, p. 1076.
In the following table the Interest and sinking fund on
that
company's bonds, issued for tnird-tracking and otherwise improving
independent item, since the legal posi¬
the same under the lease has not
the Manhattan Ry., are shown as an
tion of the Manhattan Ry. with respect to
been determined.
Years end. June 30—
Gross oper. revenue
1919-20.
1918-19.
1917-18.
1916-17.
$19,855,438 $18,575,002 $18,657,280 $18,411,254
7,875,689
4,135,071
4,467,593
6,593,954
7,951,279
4,208,594
4,579,951
6,692,130
1,867,199
Interest and rent paid..
2,335,831
2,297,022
2,073,845
Guar. divs. (7%)
4.200,000
4,200,000
4,200,000
JL200.000
Net, after taxes...
Gross income
Surplus to lessee
def.$2,327,237df.$l,917,071
Int. & sk. fd.Int.R.T.bds $2,539,552
$2,185,640
Stone & Webster Report, V. 109, p. 2440.
Pres., Alfred Skitt; Asst. Sec.-Asst.
1519, 1617,
p.
$418,285
$1,189,995
$1,884,080
$737,900
Treas., P. V. Prainque.—(V.
112,
1741.)
MANILA RR.—{Gauge, 3 ft. 6 in.)—This company, organized In New Jer¬
sey
in 1906, has taken over and Is operating the only steam road on the
1313; V. 91, p. 215.)
Island o' Luzon. Phlilpnlne T«lands,550 miles (V. 88, p.
Proposed
reincorporation,
Y. Ill, p. 389.
Dec. 1919,
315 miles of Northern lines and 308 miles
Southern lines.
Additional mileage has been under construction.
In 1916-17 the Philippine Govt, purchased all the outstanding stock for
$4,000,000 cash.
V.103. p. PJ0. 1031; V. 102. p. 609. 251. 2166.
BONDS.—The Manila RR. (Southern Lines) 1st gold 4s of 1909. guar¬
anteed as to Interest by the Philippine Governmnt under Act of U.S. Con¬
gress. are limited to $30,000,000, of which $13,903,000 have been Issued.
The bonds are redeemable as a whole at any time at 110 or by lot for a sink¬
ing fund of H of 1 % yearlv from May 1 1919 to Apr. 30 1928. and 1% yearly
thereafter.
V. 91. p. 215. 276. 717. 1711; V. 93, p. 45; V. 104, p. 1801;
V. 105, p. 1802. 1898.
In operation
MARSHALL
&
EAST TEXAS
ry.—Formerly owned from Elysian
to Gilmer, and the Receiver of the Texas & Pacific Ry. purchased the
In April 1921 the I.-S. C. Comm. dismissed the com¬
pany's application for authority to dismantle and sell the remaining portions
of the line.—(V. 112, p. 1741.)
Marshall terminals.
MARYLAND DELAWARE & VIRGINIA RY.—Operates Love Pt., Md.,
71.97 m.; Queenstown Jet. to Centervllle, Md., 5.46 m.; total,
77.43 m.; and Lewes to Rehoboth, 5 m., Is trackage over Del.M.A Vlr. Also
owns 10 steamers on the Potomac River. Ac., but on Aug.
20 1914 was
to Lewes, Del.,
practically all its water lines; at last accounts the mat¬
was not definitely decided.
V. 101. p. 694.
Reorganization Committee.—(Representing 1st mtge. bonds) Wm. B.
Skelton, Chairman; F. R. Chesley, E. D. Spear, J. S. Maxcy, H. F. Palmer.
ordered to dispose of
ter
1290.)
•
yearly during Federal control.
and 4% non-cum.
pref.; par of shares. $50 each: 1st M. 5% bonds due Feb. 1 1955, $2,000,000;
the Pennsylvania R. R. offered to purchase the Feb. 1 1920 coupons.
V.
110, p. 465.
Aug. 1920 coupons in default.
V. 112, p. 1399.
Bait. Ches.
A Atlantic Ry. (Pennsylvania RR. system) in Dec. 1919 owned all the
common and $300,000 pref. stock, and guarantees bonds.
In 1919, com¬
pensation, $49,543; other income, $3,951; charges, $164,355; def., $110,860.
Bondholders'Protective Committee.—(V. 110, p.
Federal Compensation.—$49,543
Stock, $3,000,000. of which one-half each of common
—(V. 112,
p.
1399.)
MARYLAND & PENNSYLVANIA RR.—Baltimore. Md
77.19 miles; other mileage, 3.50.
STOCK AND BON DS.—Stock authorized. $3,600,000. of
„
___
„
,
to York, Pa.
.,
.
which $1,997.500 reserved for conversion of notes (see below) and future requirements.
In 1902 the authorized Issue of the first. 4s was reduced from $2,700,000 to
$1,200,000, of which $203,000 are reserved to retire the York A Peach
Bottom 5s and $100,000 additional for future purposes, Ac. V
74,. p. 94.
427; V. 79, p. 2205.
Of the 6% notes of 1913 ($500,000 authorized issue).
$300,000 have been sold.
They are convertible into common stock at
*.50 per share up to Julv 1 1923.
No mortgage can be made without pro¬
viding for the notes.
V. 97, p. 1115, 951.
Maryland A Pennsylvania Ter¬
minal guaranteed bonds.
V. 82, p. 1041, 1102.
Equipment notes Dec. 31
1920, $10,000.
V. 96, p. 203.
Paid on incomes, 1901, 3%; 1902 to'April
1914, lncl., 4% yearly (2% A. A O.); none since to and incl. Oct. 1920.
RAILROAD
Date
Par
Amount
Rate
When
Road
Bonds
Value
Outstanding
%
Payable
y'ly red text-CC.xc*
text
1909
Manitou & Pike's Peak Ry—1st M $500,000 g„F.xc*
Manitoulin & North Shore—See Algoma Eastern Ry.>
9
1908
18
1902
1905
500
1,000
1911
1,000
50 Sec
Manist Sc. N E—1st M g due 40M
Marion & Rye Valley Ry—First mortgage—
*
Md Del & Va—1st M $2,(XM).000 auth gold guar ._xc»
Marshall & East Texas—1st M gold call 102 __SSt jcc*
Maryland & Pennsylvania—York Se Peach Bot M_-x
First mortgage $1,200,000 gold call at 105-MeBa.xc*
Income mortgage $900,000 4% cum call par__
MeBa
Notes $600,000 gold red 102*
MeBa.xc*
Maryland Se Pa Ter 1st M $200,000 g gu red 110._xx
Mason City & Ft Dodge—1st M g
Ce.xc&r
Massawippi—Stock guar same div as Conn & Pass...
McCloud River—First mortgage $1.200,000
—x
'
77
92
40
1882
1901
1,000
1,000
1913
100 Sec
300,000
1906
1,000
1,000
200,000
12,000,000
Se
&
&
?g
5 g
M
So
May 1 1936
4 g
J
1905
100
1,000
1890
£10
£10
£10
403
£100
1909
1896
Se
6 g
5 g
6
Se
M
Se
J
Se
4 g
M
Se
6 g
F
Se
b326,000
3,000.000
a708.000
£2,254.720
£2,554,100
£1,011,960
£2,000,000
£477,700
£864,000
Nov
£100
1913
1909
£100
1912
£20 Sec
addltlo nal In sin king fund.
and rentals, $79,560: balance,
1092,1973.)
Map Chicago Great West.)—
259 miles; Hayfleld, Minn.,
Maine RR.
Stock,
^
LAKeVlINESVILLE.—MeadviiletV£h^»
1 mile; total, 21.6 miles.
Leased
1 1990 to Pittsburgh Bessemer Se Lake Erie RR.; rental, 25% of
Stock, $200,000; par. $50.
Dividend In 1913 to Apr. 1921,
(2% A. Se O.)
For year ending Dec. 31 1918, gross, $35,957; net,
$33,777; bond Int., $10,000; rentals. $15,777; dlvs. (4%). $8,000; bal.,
sur.,none.
For year 1917, gross, $31,602; net, $30,446.—(V.96 p. 709.)
4%
MEMPHIS DALLAS & GULF RR.—Owns from Ashdown to Hot
Springs, Ark., 114 miles; Ashdown to Texarkana, 20 m.; Graysonla to
Leard, 6 m.; Daleville to Dalark, 11 m.; total, 151 miles.
Extensions pro¬
posed north to Memphis, Tenn., 255 miles, and south to Dallas. Tex.; 186 a.
Compensation under Federal control, $28,296; contract signed April 12.
1919.
V. 108, p. 1610.
On Sept. 10 1920 Martin Walsh, Vice-Pres. & Gen. Mgr., was appointed
receiver.
V.
Ill, p.
1278.
Stock authorized, $7,675,000; par, $100; outstanding $1,027,000.
Of
the 1st and ref. 30-year gold 6s ($3,600,000 auth. issue), $1,015,000 were
issuable at once, $420,000 were reserved to retire the $420,000 Memphis
Paris & Gulf 6s, which were guaranteed principal and interest by Nash¬
ville (Ark.) Lumber Co., and $2,165,000 for road acquired or constructed
at $18,000 ner mile in 5-mile sections. V. 96, p. 237, 887.
At last advices
$1,632,000 First & Ref. Mtge. bonds had been authenticated and interest
remained unpaid since Jan. 1915.
Pres., W. W. Brown, Camden, Ark.; V.-P. & Gen. Mgr., C. C. Hender¬
son; V.-P., A.
C. Ramsey; Sec.. J. W. Bishop: Treas.;-W- H. Toland;
—(V. 107, p. 1385; V. 108, p. 1610; V. Ill, p. 1278.)
I
MEMPHIS UNION STATION CO.—Owns union passenger station at
Memphis, Tenn., used by Loulsv, & Nashv., Nashv. Chatt. & St. Louis
Ry. and by Missouri Pacific and St. Louis Southwestern, since
1912.
Interest charges and expenses are apportioned among the
the user basis.
Stock, $100,000, owned equally by five roads
named.
In Nov. 1909 made a mtge. to the Bankers Trust Co of N. Y.
as trustee, to secure an issue of $3,000,000 5%
gold bonds, guar. Jointly
and severally by five roads named.
V. 97, p. 1025; V. 93, p. 1324; V. 89,
p. 1411. 1542; V. 90, p. 236; V. 91. p. 94.
Pres., A. B. Scates, Memphis,
Tenn.; Sec., R. M. Marr, Memphis, Tenn.—(V. 97, p. 1025.)
Southern
April 1
lines
on
MERIDIAN & MEMPHIS RR.—Owns Meridian, Miss., to Union, 33
miles, with terminals at Meridian.
In Jan. 1918 the Gulf Mobile Se
Northern (which see) purchased the outstanding securities ($500,000 stock,
and $675,000 first mtge. bonds), but the properties are operated separately.
V. 106, p. 296; V. 105, p. 2543; V. 103, p. 1118.
Pres., I. B. Tigrett.—
(V. 107. p. 181.)
MERIDIAN TERMINAL CO.—Owns passenger stations at Meridian,
Miss., opened Sept. 1 1906, and used by Southern Ry., Mobile Se Ohio, New
Orleans Se Northeastern RR., Ala. & Vlcksburg and Ala. Great Southern,
which own one-fifth each of the capital stock ($100,000) and guarantee the
bonds jointly and severally by endorsement: form. V. 85. p. 601.
Pres.,
H. W. Miller; Treas., F. S. Wynn.—(V. 107. p. 1670.)
MEXICAN
NORTHERN RY—See page 139.
to
MEXICAN RY., LTD.—City of Mexico to Vera Cruz, 264 miles; Pueblo
branch, Aplzaco to Puebla, 29 m.: Pacbuca branch, Ometusco to Pachuca,
Zacatlan branch (narrow gauge), 33 m.; Huatusco branch (narrow
Huajuapan branch
m.;
narrow
gauge.
28 miles;
total June 30
1914, 403 miles.
Jointly guarantees debentures of Vera Cruz Terminal Oo.
On Nov. 18 1914 the military authorities took over the line and no returns
were
rendered
to the company,
in Sept.
1916 the Carranza Govt, sur¬
rendered possession, but in Apr. 1917 again took charge.
The road again
returned to its owners in June 1920 by an order of Provisional President ae la
Huerta.
V.
105, p. 290. 1802; V. 104, p. 1489; V. 109, p. 674; V. 110, p.
2657.
In Nov. 1917 had taken over the operation under the Govt. Admin¬
istration of the Tehuantepec National Ry., extending from Coatzacoalcos,
Gulf of Mexico to Salina Cruz, on the Pacific Ocean, 188 miles; and operat¬
ing Pan-American Ry, (Nat. Rys. of Mex.), Picacho to Suchlate, 285 miles.
105, p. 1999; V. 84,|p 1222Agreement with Mexican Government.
HI
V.
V. Ill, p. 588.
Se
F
Se
A See text
See text
Sept 1914 coup deferred
Sept
'13 coup deferred
1st coup Mch 1913
1928
MAS Mch 1 1959
S15
6 M Se
to morat orium
postponi ng payment
and Apri 1 1 1922, respect ively.
of Interest to
1912. 1913.
8
8
1911
8
1907. 1908. 1909. 1910.
8
7 3-16
8
DIVS. (5fncF04.)1905. 1906.
First pref
%1
5*71-16
pref~%i
do
See text
1928
Subject
c
Y
do
do
do
4%
3%
J Perpetual
O Dec 1960
8
1*413-16
3H 15-16 4 7-16
6 6
6
Common
.% J
*
19-16
2H
2*
REPORT.—For 21 mos. to Dec. 31 1918 in V. 109. p. 674.
The plan for funding the interest on the perpetual debenture stock and
4* 2d debentures, which was adopted Jan. 11 1917 was extended in June
1919 until Jan. 1 and April 1, respectively, In 1922.
The deferred interest
certificates (£805,000) issued under the 1916 scheme with the interest
thereon were also refunded, payable in or before 1922 with interest at 6%
p. a.
V. 109, p. 676.
Announced in Dec. 1919 that company was ready
to exchange certain deferred Interest cert, for new cert.
See V. 109, p. 2172.
Office, 1 Broad St. Place, London, E. C., 2.—(V. 109, p. 674. 676, 2172;
V. 110, p. 2657; V. 111. p. 588.)
Second
—
RY., LTD.—See page 141.
MEXICAN SOUTHERN
MEXICO NORTH WESTERN RY.—See page 141.
MICHIGAN
CENTRAL
Lines)
miles,
RR.—(See
Maps New
York Central
line—Kensington
to
Detroit, 272
ROAD—Main
OF
—LINE
381 m.; Branches
Chicago under per¬
petual lease, 14 m.; other trackage, 86 m.; total Jan. 1 1920. 1,862 miles,
with 664 m. of 2d track, 6>97 m. of four track and 1,658 m. side tracks, &c.
Chicago Kalamazoo & Saginaw Ry., Pavilion to Woodbury, Mich., 55 m.,
is controlled but operated independently.
V. 84, p. 50.
Shareholdars
votedJune 8 1916 to purchase 15 subsidiaries, Including all those mentioned
in bond table at head of page except Detroit River Tunnel Co.
V. 102,
p. 2254.
Has considerable interest in Indiana Harbor Belt RR.
See that
and Windsor to Suspension Bridge (Canada Southern),
owned and leased, 1,108 m.; trackage (111. Cent.) into
co.
and V. 106, p. 2018.
Third-rail electric Detroit River Tunnel, 2.72 m.
long, is leased for 999
V. 90, p. 710; V. 91, p. 276; V. 92, p. 1499; V. 98, p. 236.
Compensation.—$8,105,727 yearly during Federal control.
years.
Federal
in April 1898 gave
$100 stock, and so holds $16,819,
CONTROL.—The N. Y. Cent. Se Hud. River RR. Co.
1115 in its 3 * % 100-year gold bonds for
300 of the $18,738,000 stock Issued.
See that company's statement (also
V. 93. o. 1787; V. 96, p. 1424, for proposition looking to ultimate merger.
LATE DIVS.— J'91. '92-'94.
'95-'05. '06. '07. '08. *09-'14. 1915 to'20.
Since 1890
..
.
.
%1
5* y'ly.
5
5
8
(2% s.-a.)
4 y'ly.
From Jan. 1916 to Jan. 1921, 4% p. a.
4% yrly.
6 y'ly
6
$100,000,000 Refunding Se Improvement mortgage of
1916,
covers about 1,200 miles of directly owned road, also leaseholds.
Sec.
The new bonds will be Issued In series, all equally secured, and about
$40,000,000 thereof will be reserved to provide for refunding the under¬
lying bonds shown in table above, after $10,000,000 of the new bonds have
been Issued for other than refunding purposes, bonds thereafter put out
under the mortgage for additions and improvements must not exceedltp%
of the cost of such outlays.
The debentures of 1909 are secured by the
new mortgage on a parity with the bonds issued thereunder.
V. 104, p. 1600.
In June 1918 none of the Ref. & Impt. bonds had been sold but of the
$8,000,000 authorized in 1917 $6,171,000 were issued during 1918, all of
which are held by the company and pledged as collateral for short-term
loans.
V. 108, p. 2339; V. 106, p. 2018, 2123, 1901.
■
Battle Creek A Sturgis bonds for $500,000, but of this $79,000 was subguaranteed by the Lake Shore & Michigan Southern
(now merged into
the New York Central). 7 miles, being operated by that company.
BONDS —The
,
_
As to 3*s of 1902. see V. 74, p. 728; V. 76, p. 102: V. 83. p. 1229.
First
4s on Joliet Se North. Ind.. see V. 84. n. 1367: 1428: V. 100, p. 556, 642.
Toledo Canada So. A Det. 4s, V. 104, p. 1600; V. 82, p. 930; V. 85. p. 406.
In April 1909 an Issue of $25,000,000 4% 20-year debentures was autnor^
Ized.
Of
the
$4,500,000
authorized
4s
on
Grand
River
Valley
RR.,
$1,500,000 are reserved for double-tracking. Sec., and $1,500,000 for future
requirements.
V. 88, p. 945, 1002, 1061. 1254; V. 90, p. 1554; V. 89.
p. 170; V. 90, p. 627.
As to guaranteed bonds, see Canada Southern and Detroit River Tunnel.
Equipment bonds of 1915, see V. 103. p. 145: V. 102, p. 1447.
Michigan Central RR. Equipment Trust of 1917.
V. 104, p. 1794.
In
Mar. 1919 the $7,800,000 unmatured certificates were placed as 6 per cents.
8eeV. 108. p. 973; V. 106, p. 2018.
'
Jointly with four other roads, covenants to pay New York Central Lines
$62,200,000 car trusts of 1907,1910.1912 and 1913, the company's share of
equipment trusts outstanding Dec. 31 1919 being $781,276, $1,969,802;
$1,061,867 and $2,098,876. respectively.
V. 85. p. 1402; V. 86. p. 168;
V. 88, p. 761; V. 90. p. 1677; V. 92. p. 807.
Equipment trusts issued to Director-General for rolling stock allocat¬
ed to this company.
See article on page 3.
Government loan, V. Ill* p. 2520; V. 112, p. 162.
Jan. I—Mar. 31
Jan. I—Dec. 31
EARNINGS.—
1921.
1920.
1920.
1919.
Gross
$16,494,476 $20,904,589 $87,555,082-$78,844,385
Net after taxes
1,462,894
3,261,511
7,825,827
18,347,075
xr
,
_
ANNUAL REPORT.—Report
Years ending Dec. 31—
Railroad
revenues
for 1919 in V. Ill, p. 785:
1917.
1918.
1919.
$78,844,386 $68,520,087 $52,879,434
_
21,002,572
Net from
29 m.;
gauge). 20
&
A
6
5 g
£750,000 Up
'13,
*13.
J
6
£1,671,000
£5.600,000
N
Street.
6'13.1*% Glyn.Mills.Currle &C0.L0
Nov 6
i*
Beaver
82
May 1 '13 1* % Office, 82 Beaver St. N Y
do
do
1 1930
Dec
Nov 6
6
Bankers Trust Co, N Y
MercUTCo.Jack'n.Tenn
Guaranty Trust Co. N Y
11919
A Aug
"6~g"" r"&"D
See text
ville, Pa.. 20.5 miles, and branches,
earnings.
N Y
Merch Nat Bk, Meadv.Pa
July 11921
July 1 1943
Jan
1 1928
Nov 1 1959
Jan
1 1943
May 11955
&
6 g
420,000
2,500,000
675,000
250.000
Se c
Mexico
"
5
See text
1,000
ways o f
~~McCLOUD RIVER RR.—Owns from Upton, Cal., to Fall River MillsCal., 60 miles.
Stock $1,200,000.
Bonds ($1,200,000 auth.). Mercantile
Trust Co., San Francisco, mtge. trustee.
V. 85, p. 1005.
For year end¬
ing Dec. 31 1919, gross, $430,671; net, $135,605; taxes, $21,156; other In¬
come,
$22,866; fixed charges, $60,665; surplus, $76,651.
Pres., J. H.
July
J P Morgan Se Co
1.000
$800,000; par of shares, $100; dividends payable Feb. and Aug. 1.
Divi¬
dends, formerly 5%. 6% since Jan. 1 1897.
Of the stock, $400,000 owned
by the Conn. & Pass River is deposited under Its mtge and $50,000 was
purchased in 1910 under Its option at par.—(V. 92. p._1108.)
gross
pd
Bait
do
1.000&C
MASSAWIPPI VALLEY RY—Province Line to Lenox ville,t Que.. 834
miles, with branch, 3 m ; trackage to Sherbrooke, Que.. 3 m.; total, 40 m.
to
do
1913
£10
1005.)
Se Bait
none
1913
752), and operates the road as part of Its main line to Omaha under a
100-year agreement dated Apr. 301901, and modified June 1904, M. C. &
D. receiving 60% of earnings on business interchanged.
Compare
Chicago Great Western Ry. and V. 73, p. 566, 616, 722; V. 77.P. 640; V.
78, p. 1782; V. 80, p. 2621.
Earnings (ncl. in those of C. G. W. system.
The interest due Dec. 1 1920 on the $12,000,000 1st M. 4s was paid by the
Chicago Great Western, lessee, with funds loaned by the I.-S. C. Comm.
Compare V. Ill, p. 2228.
A protective committee was formed In Dec.
1920 and called for deposit of bonds.
See V. Ill, p. 2324.—(V. 95, p. 1274;
V. 99, p. 1451; V. Ill, p. 2140 , 2228 , 2324.)
MEADVILLECONNEAUT
Oct *20
Feb 1 1921. 3% Safe Dep Se Tr Co, Boet
Mercantile Tr Co, San Fr
Apr 1 1937
m.;
Queal, San Francisco.—(V. 85, p.
Brown Bros. N Y
June 1 1955
Ft.
f
Alex Brown Se Sons,
Se
ending Dec. 31 1920: Gross, $821,023; net, after
Leased for 999 years from July 1 1870 to the Boston &
1 1923
&
branches to Lehigh and Coalville, la., 19 m.; track¬
age, Council Bluffs to So. Omaha, 8 m.; total, 386 m. The Chicago Great
Western owned Dec. 31
1919 entire outstanding com. stock ($19,205,100
Oct
SeeTle.&Tr.Co.York.Pa
1908
Pres., O. H. Nance.—(V. 100', p. 397; V. 101, p.
to Clarion, la.,
1914 to
Se
Jan. 1
MASON CITY & FORT DODQE RR.—(See
Owns road from Oelwein, la., to Council Bluffs,
11951
&
1913
vear
Apr
See text
5
1891
Mex No West—Prior lien bonda £2,500,000 red 102 *
1st M gold red text
Conv Income bds £1,000,000 6% cum red par a f_c*
REPORT.—For
1 1951
Jan
&
6
1913
Prior lien bonds
def., $38,781.
Mch
&
800.000
Second
taxes, $36,948; other income, $3,831; interest
Bank of Marlon (Va.).
Aug 1920 coup in default
July 1 1922
Feb 11955
1 1931
Apr 1 1932
Se
1,200,000
200,000
-
b $2 4.000
O Oct
100
1907
Mexican Ry Limited—Ordinary share capital stock,.
First preference stock 8%
Exclusive of $53,000 held by sinking fund,
Jan 1919 prin&int unpaid
New York and Cdlcago
1919-1939
1 1928
J Jan
&
ana
Dividends are Payable
j
1,000
1,000
l.OOO&c
1,000
1905
378
37
"83
preference stock 6%
—
cPerpetual 6% debenture stock
c2d debens £1,000,000 auth red par since 1912 s f,
Mexican Sou'n Ry—1st M 4% deb stk red at par 90 yrs
&
A
6
175,000
2,000,000
it*
5 g
1,180,000
5
202,450
4 g
897,000
900,000 See text
1901
and Maturity
J
z
5 g
500,000
80
•
1909-0
5
$1,132,000
80
"22
Meadviile Conneaut Lake & Linesville—First mtge-.z
Mem Dal&Q—lst&JRefM$3,600,000g redtextMStxc*
Mem Paris & Gull—1st M gold red 103 begin 1919.x
Memphis Union Station—1st M g guar—Ba.xc*r»
33-4
Meridian & Memphis RR—1st M $800,000 red 1053.27
Meridian Terminal—First M $250,000 g gu_.(jxc*&r
Mexican Central—Mexican International—See Nation alRaii
16
Mexican Mineral—1st M $500,000 g red 110 s I
Ox
Mexican Northern—Stock, $3,000,000
First mtge U S gold red 106 s f ext In
$1,000
1,000
Where Interest
Places
Dividend
Last
Miles
COMPANIES
[For abbreviations, Ac., see notes on page 6]
a
[VOL. 112.
RAILWAY STOCKS AND BONDS
80
operations
Government compensation
Operating income after taxes
8,699,812
--
868.187
Other income
Gross corporate income
Rentals leased lines
on bonds, &c
Interest
Other rents and miscellaneous
$y,557,999
$2,783,598
4,005,276
273,692
Hire of
equipment
Depreciation
17,450,015
8,052,127
14,590,298
^
--------
--------
12,604,655
902,980
869,802
$8,955,107 $13,474,457
$2,774,022 $2,775,914
2,077.363
2,712,266
1,534,159
1,000,709
3,547,351
- - - - - - - -
Additions, Sec
—---
Expenses applicable to prior
Dividends (4%)
period-_
——1
-
-
2,428.203
- - - - - - - -
252,604
2,021,70o
749.456
749,456
Balance, surplus
Ueifci:Ul,598
$2,436,157
Pres., A. H. Smith, N. Y.; V.-Pres.t E. D. Bronner, Detroit; Treas..
W. E. Hackett.—(V. 112, p. 162, 744, 2033.)
740.466
th
00
w
o
m
P
gg
m
o
o
h
gg
6j
s
ph
§
os>
^'
QO
w
fc
O
o
W
OQ
£
o
w
o
ta{
o
w
o
r
6
May, 1921.]
RAILWAY
RAILROAD COMPANIES
[For abbreviations,
&c.,
notes on
see
Aichigan Central—Stock
Refunding & Impt Mtge $100,000.000
First mortgage $18,000,000 gold
do
bonds
without
Date
Pa*
Amount
Rate
When
Road
6]
Bonds
Value
Outstanding
%
Payable
,200
1917
G.xc'&r
Un.xc&r
Un.zc
270
1902
115
171
1881
coupons—zr
171
1881
Debentures goid__
G.xc* &r*
M C new M on Gr Rlv Val $4,500,000. g text.Gxc&r
M C first mortgage on Kalamazoo AS Haven.xUn.r
"84
39
Mich Cent 1st M on Jack Lans & Saginaw g ._xc* &r
M C 1st M on Jollet A Nor Indiana $3,000,000 g.x
379
45
1909
1909
1889
1901
1907
1915
07-13
41
(end) G.xc* Ar_
59
1889
1889
1906
14
1913
Detroit Rlv Tunnel Co
g gu
1917
18
c
1910
100
Of which $16,819,300 held by N Y Central RR Co.
x
Anadditional $79,000 is guar by N Y Central
EAST & WEST RY.—See page 140.
Reorganization in 1913 (V. 97, p. 887) of Middletown Unionville A
Gap RR., foreclosed and stock, $150,000.
Adjustment mortgage
have been paid as follows: Nov. 1915, 1%; May 1916 to Nov.
1917, 2% semi-annually: May 1918 (for 6 mos. ending Oct.
1917), 4%;
full 6% paid on income bonds in 1918; Nov. 1 1919 (for 6 mos. ending
April 1919), 3%; May 1 1920 (for 6 months ending Oct. 31 1919), 3%:
Nov. 1 1920, 3% (for 6 months ended April 30 1920); May 1 1921 (for 6
months ended Oct. 31 1920), 3%.
For year ending Dec. 31 1919, gross, $108,667; net, $46,292; other income,
$1,923; int. on bonds, $11,400; taxes. Ac., $9,653; bal., sur., $27,181.
Chairman, Newman Erb; Pres., Charles I. Henry, 21 State St., N. Y.;
V.-P. A Gen. Mgr., J. A. Smith; Treas., Garrett T. Townsend; Sec., Frank
H. Finn.—(V. 112, p. 1741.)
Water
coupons
MIDI RR. CO.{See Map.)(Compagnie des Chemins de Ferdu Midi).—
MILEAGE.—The Midi RR. Co. system includes 4,098 kilometers of line
(about 2,547 miles), forming the only railroad connection between Spain
and Continental Europe.
ORGANIZATION.—Organized in 1852; assumed present title in 1898.
CAPITAL STOCK.—125,000,000francs, divided into 250,000 shares of
500f rancs each.
Of this amount 39,842 had been called for redemption up
to Dec. 31 1919, leaving outstanding 210,158 ordinary shares and 39,842
dividend shares without par value, but entitled to 5% dividend per annum.
DIVIDENDS.—An annual distribution of 10% per annum has been paid
on the capital stock since 1883
(see Government guarantee).
BONDED DEBT.—On Dec. 31 1919 bonded debt of
Number of Bonds
Author-
Called for
co.
was as
follows
Par Value of
Out-
Outstanding
Of 500 Francs Nom.—
3% bonds, 1884-1957
orized. Redemption standing.
Bonds.
4,543,082 1,032,599 3,510,483 1,755,241,500 frs.
61,907
229,940
114,970,000 frs.
10,500
236,364
118,182,000 frs.
'o
muuvas,
i»o,ooo
193,868
96,934,000 frs.
Since that date the company has issued 90.000.000 francs bonds 6%,
110,000 bonds 3% of 500 francs each, 79,000 bonds 4% of 500 francs each
and 44,000 bonds 5% of 500 francs each.
Of the 6% bonds, 50,000,000
francs were offered in Oct. 1920 by A. Iselin A Co., New York.
These
bonds are redeemable at par by annual drawings, in accordance with the
amortization schedule printed on the bonds, in amounts sufficient to retire
the entire issue by 1960, the company reserving the right to increase the
amount to be redeemed in any year.
Convertible at any time into an equal
principal amount of 6% French bonds, listed on the Paris Bourse, but sub¬
ject to French taxes.
Principal and interest (J. A D.) payable at the office
of A. Iselin A Co., 36 Wall St., New York, without deduction for
any
French taxes, present or future, if held by non-residents of France.
Com¬
pare V. Ill, p. 1472.
All the above-mentioned issues are scheduled to be
.
before the end of the concession.
of the concession,
All bonds
scheduled to be redeemed
are
namely Dec. 31
Before the
end
1960.
GOVERNMENT GUARANTEE.—By an agreement between the
com¬
and the French Govt., approved by a law enacted Nov. 20 1883, It is
provided that if in any year, prior to Dec. 31 1960, the end of the concession
of the company, the net income of the company is not sufficient to cover
the interest on, and the amortization of, its bonded debt, and to make a
12,500,000 francs
on
its capital stock (at the rate of 50 francs
8er amounts necessary to make up theGovt, will provide the company with
share of 500 francs), the French deficiency, any amounts so advanced
le
to be
repaid with interest at the rate of 4% per ann. (3% since 1896 in ac¬
cordance with the agreement in connection with the transfer to the Govt,
of the two canals mentioned above) out of any surplus net income of the
company remaining after making distribution of 10% on its capital stock,
and that if at any time prior to the end of the concession the Govt, shall re¬
purchase the company's property and take over the operation of its railroad,
the Govt, will pay to the company annuities not less than the aggregate
amount required for Interest on, and amortization of, its bonded
debt, and
for making a distribution of 12,500,000 francs on Its capital stock.
EARNINGS.—(Figures given are per 1,000 francs).
i
Year—
1900.
1910.
1905.
1915.
1918.
1919.
Operating receipts.....107,654 115,990 128,505 135,313 184,496 205,188
Operating expenses
50,625
53.440
70.294
81,615 160,247 252,074
Net operating income..
57,029
47,494
10% dividend on stock. 12,500
Advances made by Govt,
under agreement with
the Government.
3,060
Amortization interest..
-
62,550
49,527
12,500
58,210
51,961
12,500
53,698
58,605
12,500
24,249 -46,887
60,058
62,188
12,500
12,500
1,850
6,260
17,407
48,309
the
Government
Comparative statement of
1
460
gross
receipts as of Oct. 20 1920 for the period
1920:
1919
—(V. Ill,
p.
MIDLAND
153,334
1920
1566, 2229. 2325: V. 112,
PENNSYLVANIA
287,050
p.
Increase
87.20%
372.)
MIDLAND
VALLEY
south to Hoye,
8Ilverdale,
RR.—Owns and operates from Excelsior
Ark.,
Ark., and north to Fidelity, Ark.; also from Excelsior west
Kan., and from Jenks, Okla., to Klefer, Okla.,
S MAN May 1 1952
J
A
J Jan
1 1940
Reg at G 0 T;
N Y
G Tr
Cent. Union Tr Co. N Y
MAS Mch 1 1931
!*
f
Mch
Q—M
A
i g
A
5 g
6
3 g
!g
4 s
A
do
do
do
do
do
do
Reg atGOT; op at G Tr
Guaranty Trust Co, N Y
„
'21-Oct '30 New York and Phlla
O Oct
To Jan 11928
MAS Sept 1 '21-'32
J
A
D Deo 11989
J
A
D Deo 11989
J
do
Grand Central Term. NY
11929
MAS Sept 11959
Various
cp at
do
11931
O Apr
A
MAN Nov 1 1939
3H 8 MAS Sept 1 1951
J A J
10 July 10 1957
J Jan
Union
Trust
do
Co.
N
do
Y
Grand Central Term. N Y
MAN Nov 1 1933
6 g
text MAN Nov 11933
Empire Trust Jo, N Y
Bankers Trust Co, N Y
Ac
5 g
J
A
July 1912
5 g
A
A
A
J July 1 1960
ooup
not
paid
See text
5,224,000
O
New
1 1943
1 1953
Apr
Apr
See
5,512,500 Up to5% Sept. 1
A
A
O Jan
1 1931
5 g
1.025.000
10
J
A
J LTulyl921 5%
323,375
e
York
and
Phlla
text
Office. Philadelphia. Pa
Reading Term, Phlla, Pa
Chicago A North W estern
4,210,200
450,000
593,000 4
1,000,000
325,000
11997867
5K
July 15
5 g
g A
700.000
J
g
'21 3% Office 119 S 4th St, Phlla
Farmers L A Tr Co, N Y
Wall St, New York
All owned by Can Paolflo
May 1 1925
11931
Jan
1 1951
Jan
11931
55
Jan
5 g
r5
£ e
5
A D 30 June
retir ed by La nd Grant
55
Wall St,
New York
First Trust A S Bk, Chic
3(^ 1925
Trustees.
310.17 miles; also operates under trackage from Rock Island, Ark., to Ft.
Smith, 16 m., and Silverdale to Arkansas Oity, Kan.. 9.; leases Wichita A
Midland Valley RR., Arkansas Oity to Wichita, 51 miles, for 50 years from
July 29 1910, for 25% of the gross earnings (and any deficiency necessary
to meet the bond Int. and taxes); total oper.-. 386.25 m V 92, p. 462,796.
ORGANIZ'N.—In 1913 readjusted without foreclosure, V. 96, p. 554.
Final settlement, V. 112, p. 470.
STOCK.—Auth., common, $16,000,000; pref., $5,000,000; outstanding,
$4,006,500 each of common and 5% pref. (prin. and div.); par, $50.
Stock
la all held In a voting trust
terminating Jan. 1 1924 or at any time after
May 1 1918, at the discretion of the voting trustees; Edward T. Stotesbury,
Sidney F. Tyler, J. R. McAllister, Lloyd W. Smith and Francis I. Gowen.
The pref. stock Is redeemable at par on any div. date after July 11916 on 30
days' notice, and subject to the right of the Cherokee Construction Co.
(which owns all of the com. stock) to purchase as follows: L 916 and 1917
at 40%: 1918 and 1919. 45%:-1920 and 1921, 50%; 1922 and 1923,55%.
BONDS.—The first 6s and adjustment M, (income) 5s, issued per plan
V. 96, o. 554, are a first and second lien, respectively, on (1) the entire
property; (2) the leasehold interest in the Wichita A Midland Valley RR.
and all the $1,025.0001st M. bonds of the latter and $460,000 of Its $503,300
common stock; (3) all of the $250,000 stock of the Sebastian County Coal
A Mining Co. owning about 18,500 acres of semi-anthracite coal lands.
Of the first 5s, $5,000,000 have been Issued on account of retirement of
outstanding bonds and other indebtedness and impts., Ac., of the remaining
$10,000,000 reserved for 85% of the cost of lmpts., extens, Ac., under
careful restrictions.
Issued. $5,469,000, of which $5,224,000 are out¬
standing and $245,000 are In treasury.
See V. 96, p. 1423,1489.
The interest on the adjustment M. bonds is to be paid annually, If earned,
nut is not to become a fixed charge, and is not to be cumulative unless the
Cherokee Construction Co. shall exercise the option to purchase the pref.
The
$3,512,500 Series A bonds have
priority
both
as
to
lien and
payment of interest over the $2,000,000 Series B bonds.
For the year ended June 30 1917 3% was earned, and paid on Sept. 1,
Government control; 3% Interest was declared, payable Sept. 1 '19, for year
June 30 '19 (coupon No. 3); 3% was declared for the year ended
June 30 1920, payable
Sept. 1 1920 (coupon No. 4).
V. 105, p. 109; V.
ended
107, p. 1385 :V. 109,
p.
888; V. Ill,
Jan.
EARNINGS.—
p.
...
Net after taxes
896.
1 -Mar. 31
1920.
1921.
Gross
$1,124,428
88,342
$1,184,940
124,823
——Jan. 1 -Dec. 31-——
1920.
1919.
$5,086,397
$3,952,821
450,058
795,182
REPORT—Years ended Dec. 31:
Cal.
Oross
Net (after
Year—
Earnings.
Taxes).
Other
Balance.
Interest,
Income.
Rents, Ac.
Surplus.
$374,765
$467,221
$53,665
-..$2,927,127
$788,925
280,111
53.920
331,213
2.121,166
558,597
Office, Liberty
Rres., C. F. Ingersoll; Sec. A Treas., J. R. K. Delaney.
Building, Phlla.—(V. 112. p. 470).
\
Broad Mountain, Pa.. 4.01 m.; branches, 2.13 m.; second track, 3.79 m.;
total track, 60.03 m.
Leased in 1861 for 999 years to Phila. A Reading RR.;
lease assumed in 1896 by Phila. A Reading Railway, rental, $33,000 A taxes.
MINE HILL & SCHUYLKILL HAVEN RR.—From Schuylkill Haven to
Ashland
and Enterprise Jet., 36.72 m.; 2d track, 18.85 m.; total track,
m.
Jn 1897 rental reduced to 6% on stock under new lease for 999
from Jan. 1 1897 to Phila. fc Read. Ry. Co.; 2 H % is paid in Jan. and
i% In July, M % being deducted for taxes.—(V. 96. p. 1365. 1423.)
years
MINERAL POINT & NORTHERN RY.—Highland to Highland Jot.;
Wis., 26.4 miles; trackage to Mineral Point, 4.2 m.; total, 30.6 miles*
Stock, $550,000; par, $1(K>.
Bonds, see table.
For cal. year 1920, gross.
$139,873: net, $28,917; charges, $36,493; def., $7,577.
Pres., Thos. D.
Jones, Chicago; V.-P., A. D. Terrell, Chicago.
MINERAL RANGE RR.—Houghton, Mich., to Calumet, Mich., 14 m.;
branches, 19 m.; South Range exten., Keweenaw Bay to Riddle Jet., 36 m.;
total, 69 miles.
Federal
compensation, $144,005 (contract signed).
1896, 7%: 1897, 7%; 1898, 3H%\
$100.
„
In 1895 paid dividends of 10H%; In
since.
Stock, $1,500,000;
par,
aone
BONDS.—Consols for $1,000 are
a
total of
reserved for $3,000 old bonds.
Of the
outstanding, $339,000
are
5s; the
Canadian Pacific owns
remaining $254,000 (which are 4s) and the $1,000,000 gen. mtge. 4s,
oth of which It guar, as to int. V. 75, p. 554. See V. 73, p. 556. 616; V. 73,
p
785.
Of tonnage In 1917. 87% was ores and mining products.
—Jan. 1— Dec. 31—
EARNINGS.—
1920.
1919.
Gross
$663,975
$773,226
Net, after taxes
def245,017 def.139,456
Cal. Years—
Qro«*
Fed. Inc.
Net.
Oth. Inc.
Chgs.
Balance.
1593,000
tie
_
See
above $140,579
$147,432
21,959
1,184.850
—(V. 110, p. 970, 1642.)
$8,982 $121,191 sur.$28,370
$837 $110,464 sur.$37,805
9,312
125,570 def. 94,299
v
MINNEAPOLIS RED LAKE & MANITOBA RY.—Bemidjl to Redby.
Minn., 33 H miles.
Stock. $100,000: bonds (see table).
For year ending
Dec. 31 1920, gross, $150,890; net, $44,767; int. and rentals. $36,820; bal.,
sur., $7,947.
Sec., A. Ueland; Treas., A. L. Molander, Bemidji.
MINNEAPOLIS
RR.—See page 141.
MIDLAND RAILWAY.—Savannah, Ga., to Midville, 90 miles.
V.
105, p. 1118.
Formerly Savannah Augusta A Northern Ry.. sold in 1910
by receiver for $25O.OO0 to W. J. Oliver.
V. 101. p. 450, 1372.
For financing proposed in Jan. 1919, see V. 108, p. 79.—(V. 110, p. 658).
to
4
!
200,000!
1919
121.575
Refund of advances from
from Jan.
3H
129.91
pany
distribution of
Payable
MILL CREEK & MINE HILL NAVIGATION & RR.—Mill Creek Jet. to
No^mortgage has been issued on any part of the property, all bonds rank
equal and are a direct obligation of the company (see Govt, guarantee).
REDEMPTION.—The entire bonded debt Is redeemable at par by
annual drawings, in accordance with the redemption schedule printea on the
back of each bond.
are
2% Grand Cent Term'l,
11956
y$3 01,000 purchase d and
RR.
MIDDLETOWN & UNIONVILLE RR.—Middletown, N. Y., to N. Y
O. A W. June., N. Y., 14.03 miles.
Has an agreement with the N. Y. Ont
A Western Ry. for the use in perpetuity both of the terminal in Middletown
and of the mile of track used in entering that city.
or
'21
Where Interest and
Dividends
812,000
Ac
—
redeemed at
J Jan 29
A
Places
Maturity
250,000 See
100
1913
1st consol M $1,000,000
1917
Midland Val RR—1st M g red 102H beg '16-GPxc*
299
1913
1.000
299
1913
Adjustment mtge (2d Income) gold red par FP„xc*
500 -1000
Wichita & Midland Val 1st M g gu red par
1911
xc
1,000
Mill Creek & Mine Hill Navigation & RR—Stock
25
Milwaukee Lake Shore A Western—Milwaukee Sparta & Nor thWes tern —Se
Milwaukee & Northern—See Chicago Milwaukee A St Paul
Mine Hill & Schuylkill Haven—Stock (6% rental)
37
50
Mineral Point & Northern—1st M $450,000 gold _F.x
26
1905
1,000
Mineral Range—Consol mtge (text) gold red at 105_zc
16
500 Ac
1891
General mtge Interest guar by Canadian Pacific-Fz
73
1901
100,000
Hancock A Cal cons mtge gold red at 105 assum._z
34
1891
1,000
Minnean Red Lake & Manitob—1st M $700,000 g-F.xc
1,000
33H 1905
.
and
See that company
Middletown & Untonv RR—1st M $500,000-- Ba.y
Second M 6% non-cum adjust lnc bonds red par__y
Midi Railroad Co—See text
Midland Pennsylvania—1st M $2,000,000 gold red s f-
MICHIGAN
J
Last Dividend
See text
1,000 Ac
18,000,000
1,000 Ac
2.600.000
1,000 1 4,000.000
1,000 Ac
1,000Ac
7,634.000
1,500,000
LOOO'Ac
700,000
1,000 y 1,699,000
1.500.000
"""Y.ooo
3.000,000
5.911,930
1,000 Ac
6,600,000
1,000
49,000
1,000
X421.000
1,000 Ac
3,100,000
1890
Equip. Tr. $4,500,000 ($300,000 annually) gu. gyc»
Equipment trusts N Y Central Lines, which see
Mich Cent Eq Trust, due $600,000 ann—G.c*Ar
Bay City A Battle Cr 1st M g gu p & 1 end.Mp.zc*
Battle Cr & Sturgls 1st M g guar p A 1 end.Mp.zc*
TolCanSo&DetlstM$4.500.000
S3
Miles
page
$100 C$18738000
M 0 Michigan Air Line first mortgage
1st M on DetABay City
do
STOCKS AND BONDS
&
Road Owned—
ST.
LOUIS
Oonde to Le Beau. S. D
RR.~(-S?«,Map.)— Road Includes:
Miles.
Minneapolis to Angus, la
260
Des Moines to Ruthven, la
138
Hopkins, Minn., to Leola, S.D.329
Road Owned (Continued)—
Miles.
Winthrop, Minn., to Storm Lake.154
Branches
160
Trackage
113
..—
115
Iowa Jet.. 111., to Northwood._375
Total owned and operated Dec. 31 1920
1.650
Leases to O. R. I. A P.. Albert Lea to Iowa Line, 13 m., Incl. above.
Date
far
Amount
Rats
When
Road
6]
Bonds
Value
Outstanding
%
Payable
Hinneap & St L—Stock, all of one class, $26,000,000
First mtge Merrlam Juno to Albert Lea g.,. F.zc*
First Oonsol Mclosed M g (V 59, p 1145) >N.xc* Ai
Des Moines A Ft Dodge gold guar p A l-..Ce.xc*Ar
First & Kef M $13.244.0(M) gold <$£8,000 p m) __Cex
Refund andExtenM 175.000,000 g redlOS.Uxc* Ar*
109
502
Amer Locomotive trusts due $23,000 s-a-
1912
1912
1915
1917
1915
1921
„—
1920
Equipment trusts, Director-General of Railroads. _
Iowa Central 1st M 6 (V 49, p 582)..-..---.Me.zo*
1st Ref mtge $25,000,000 g (see text)_Un.xo* Ar
Hock Coal Co 1st M $600,000 gu red 105 sf__ Em.xc*
Minneap St P & S SteM—Com stock $28,000,000.
.• Preferred stock 7% non-cum $14,000,000
Wisconsin Cent leased line ctfs $12,500,000 auth..
Minn Sault Ste Marie A Atlantic 1st M gold.Ce.zc*
1st Cons M g. Int guar (end) ($3,477,000 5s).Ce.xc*
Second mortgage $5,000,000 gold int guar
Ce.x
Central Terminal Joint 1st M g red text-G.xc*Ar*
Oar trust Ser D g due $51,000 s-a (V 95, p 750) ...x
do
SerEg$150,000s-a (V.96,p.203) --Q-xc
do
Ser F due $64,000 s-a (V 97,D 1663). QPc*
do
Ser O due $75,000 s-a (Y 103 p 1888) .Em.c
do
Ser H due $50,000 yrly call 102
---c*
do
Ser. I due $250,000 yrly
Ce.c
do
Ser J due $250,000 yrly—
Ce.xxxc
Minnesota Transf— 1st M g call 102X 1922 s f c*Ar*
Miss Cent—1st M $10,000,000 g gu red (textK.a.xo"
MIssRiv & BonneTerRy—lstM $2,500,000 g red 105*
502
539
1888
1901
1912
3,158
3.158
1886
1888
1899
1.000&C
1911
1912
1913
1913
1916
1,000
1.000
1920
1920
1,000
1,000
1,000
1,000
1921
1916
164
65
1911
ORGANIZATION.—Incorporated in Iowa June 30 1910 (V. 103, p. 145.
consolidation of Minn. A St. Louis RR. of Minn, and Iowa (V. 59)
371; V. 93, p. 1668), and Iowa Central A Western Ry., per plan of Feb.
1916. V. 102, p. 522, 629; V. 103. p. 2163; V. 104, p. 2240.
,
,
STOCK.—The new consolidated company has an authorized capital
ck of $20,000,000 (par $100), all of one class, of which there was issued
rthwlth $25,792,000, the remainder to be reserved for future needs.
p.
^
1
3
'05 to Jan.'lO.
'97. '98. '99. '00. *01. '02. '03. '04.
f
DIVIDS.
5 yearly
6
5
5
5
1X4
5
5
None
2X
3X 4X 5
0
since
BONDS, AC.—Bonds due 1927, Nob. 1101 to 1400, for $500 each, addi¬
tional to those above, were assumed by B. C. R. A N. (now C. R. I. A P.)
First Refunding mtge. of 1899 is limited to $13,244,000.
The mtge. is a
1st lien on 277 miles of road and on $299,500 stock of Railway Transfer Co
of Minneapolis; also a blanket lien on rest of property. V. 68, p. 187, 332
V. 79, p. 2147; V. 80, p. 2220; V. 87, p. 1420; V. 88, p. 2Q5. 452, 500.
J
See V.
69,
p.
None
32.
The "Refunding and Extension" 50-year bonds, dated Jan. 11912($75.000.000 auth. Issue) are secured by a general lien on properties now owned,
subject to existing liens, and have a first lien on 229.60 miles of road, viz.,
Watertown to Leola, S. D., 114.13 miles, and Conde to Le Beau S. D.,
115.47 miles.
Amount issued, $0,800,006; amount outstanding, Dec. 31
1919, $4,085,956; balance in treas. or pledged for loans, Ac. In 1912 $39,891,000 were reserved to retire a like amount of underlying bonds,
.$1,036,000
to
retire
equipment
obligations,
$11,073,000
for im¬
provements, second track, Ac., $3,000,000 to purchase rolling stock
and $10,000,000 for additional road, or terminals.
V. 93, p. 1688; V. 94.
p. 279, 487,031; V. 90, p. 136; V, 98, p. 1310.
The $3,072,000 Des Moines A Fort Dodge 4% bonds dated Jan. 1 1905
were guar., p. A 1.
V. 79, p. 1704, 2696.
The $161,000 Hocking Coal Co
1st 6s ($600,000 auth. issue) are also guar.
V. 96. p. 360.
Equip, trusts.
V. 104, p. 952; V. 101, p. 1714, 1629.
The $1,382,000 Pacific Ext. 6% bonds were paid off at maturity on Apr. 1
1921.
V. 112, p. 1519.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
>
To obtain aid from National Railway Service Corp. to purchase equip¬
ment.
V. Ill, p. 1661.
Government loan, Y. 112, p. 1519.
Jan
1 -Mar
31
Jan. 1 -Dec. 31
EARNINGS.—
1921.
1920.
1920.
1919.
Gross
$3,993,425
$3,931,508 $17,004,329 $13,384,871
Net after taxes...
defl54,505
145,917
def984,319
def228,773
ANNUAL REPORT,—Report for
Calendar Years—
1920.
cal.
year
1918.
Standard return
Other income
$2,593,671
$2,820,167
$2,059,542
241,547
345",561
Total net income.
Int, on funded debt....
Hire of equipment
Miscel. deductions
" 587",336
549", 796
$2,834,618
$2,063,789
Cr.7,410
127,188
.176
$430,693
$210,829
$651,051
$3,024,955
$2,079,218
$3,058,508
$2,040,479
"
Balance, surplus.
b For 10 mos.
Chairman, Chas. Hayden; Pres., W. H. Bremner; V.-Pres., J. S. Bache,
L. C. Fritch, F. B. Townsend; Gen. Mgr., E. E. Nash; Sec. A Asst. Treas.,
a
W.
Includes Fed. comp. for 2 mos. and 6 mos.' guarantee,
B.
Davids.
N. Y, office, 25 Broad St.
Directors.—H. E. Huntington, Charles Hayden, J. S. Bache, E. V. R.
Thayer, Newman Erb, F. P. Frazier, W. H. Bremner, N. Y.; F. C. Letts,
Chicago; F. A. Chamberlain and F. E. Kenaston, Minneapolis; S. B.
November, Baltimore, Md.—(Y. 112, p. 470, 849, 1519.)
.
MINNEAPOLIS ST. PAUL A SAULT STE. MARIE RY.—Owns main
line from Sault Ste. Marie, Mich,, via Minneapolis to Portal, North Dakota,
at International boundary line, there connecting with Canadian Pac., 1,040
miles; branches, Hankinson, N. D., to Max, 305 miles; Glen wood, Minn., to
Noyes, 265 miles; Thief River Falls. Minn., to Kenmare, N. D., 290 m.;
Fordville, N. D.f to Drake, N. D., 131 miles; Moose Lake, Minn., to Plummer, Minn., 193 m.; Wishek, N. D., to Pollock, 70 m.; Brooten to Duluth,
Minn., 188 m.;
Lawler to Ouyuna, 39 m. (V. 91, p. 912, 787); other
branches, 598.45 miles; spurs, 21 m.; Fairmont A Veblen Ry.t Fairmont to
Grenville, S. D., 87 m.; total owned Dec. 31 1920, 3,153 miles; leases Wis¬
consin Central Ry. (which see), 1,125 miles; total operated, 4,309 miles.
Owned but leased to Minnesota N. W. Elec. Ry,, Thief River Falls to Goodrldge, Minn., 19 miles.
Late in 1916 became interested in Spokane Inter¬
national Ry.
V. 104. p. 1899.
a
of Minn. Sault Ste. Marie A Atl.
See V. 46, p. 538, 609;|V. 77, p. 628.
Wisconsin Cent. com. stiqck was purchased, affording a
HISTORY.—A consolidation In 1888
Minn.
A Pac., Ac,
In 1909 51%
of
Chicago connection, the road being leased for 09 years from April 1 1909;
$11,213,800 4% leased line ctfs. have been issued (see Wis. Cent.), Becured
by Wis. Cent. pref. stock, $ for $. V. 88, p. 232, 564, 686; V. 98, p. 1668.
Int.on Wise. Cent. 1st A ref. 4s ($5,816,000out)is guaranteed. V.95, p. 968.
The Central Terminal Ry., organized in 1911, on Apr. 1 1914 opened a
new Chicago terminal.
See BONDS below,
V. 93, p. 1463. 1387. 871
285; V. 95, p. 745.
In May 1921 received authority to acquire the property of the Wisconsin
A Northern by purchase and to issue its 5% Consol. gold bonds to the
amount of $2,671,000 in part payment.
Federal
Compensation.—$10,547,429 yearly during Federal control.
STOCK.—Canadian Pacific in Jan 11919 owned $12,723,500 common and
$6,361,800 preferred.
Preferred stock has a prior right to 7% (non-cum.);
then com. to 7%: then share pro rata.
V. 75, p. 549; V. 92, p. 882.
DIVIDENDS.—
Common
1 '03. '04. '05. *06. '07. '08. '09.
%J 2444466
do
do
do
1 1935
do
do
1 1949
do
1 1962
do
J Jan
A
MAS Mcb
Feb
1910 to Apr. 1921
7 yearly
do
do
1922 25 Broad
do
MAN Nov 1 *21 to '25
do
F
A
A Feb 1 *22 to '27
6
J
6
J &
6 g
J
&
J
A
A
1
St, New
York
do
do
July '21-Jan '25
Q—J
6
Nov
25 Broad St, New York
J To Jan 1 1926
15 To Jan 15 1935 25 Broad St, New York
25 Broad St, New York
D June 1 1938
do
do
Mch 1 1951
*1
A
July 1 1932
25 Broad
7
A
Minn
7
A
4
A
Apr 15 1921 3 H
Apr 15 1921 3X
Apr 12008
4 g
A
Jan
A
July 1 1938
g A 5
8t, New York
office; checks mail
do
do
Bank
1 1920
of
Montreal,
Bank of Montreal,
11949
4 g
4 g
A
Jan
A
4X
A
Nov 1 1941
Dec '21-June*22 Bank
Mew
N y
N Y
do
do
Yorfc
of
London
A
Montreal, N
Y
F
do
do
July '21-Jan '23
Dec '21-Dec *23 Glrard Trust Co.. Phila
A
AN15 Nov '21-Nov'26 Bank of Montreal, N Y
A
O Apr 1 '22 to '30 Minneapolis Tr Co, Minn
A
D June '22 to '30 Bank of Montreal, N Y
do
do
&
S Mar 1 '26 to '35
N Y and St Paul
A
A Aug 1 1946
J
I
A
Vt
i
M
7 g
J
6 X
M
A
A
5 t
J July 1 1949
&
O Oct
A
1 1931
N Y, Callaway,
Fish AOo
StLouis
1st N Bk, N Y A
V
1 1919 owned $3,993,000 of
45, p. 243; Can. Pac. Ry. Co. on Jan.
the
M. St. P. A S. Ste. M. 1st 4s.
The Consolidated mortgage of 1888, abstract
V. 47. p. 142, was for $21,000,000 on 800 miles (sufficient of this
to retire prior bonds) and for $20,000 per mile on all additions.
Outstand¬
ing amount is, however, restricted to three times the stock.
V. 94,
reserved
351; V. 73, p. 185; V. 78. p. 820; V. 79. p. 1332; V. 80, p. 651; V. 87.
1011, 1664; V. 89, p. 779; V. 91, p. 102& V. 95. p. 544; V. 98, P-1316;
103, p. 321; V. 106, p. 1126.
As to 2d 4s, see V. 68.
P. 669, 771, 977; V. 71. p. 845; V. 85, p. 1646; V. 96, p. 1089.
The Chicago Terminal 1st M. 30-year gold 4s ($20,000,Olio auth.) are se¬
cured under a Joint mtge. with Central Terminal Ry. on Chicago terminals
of Minn. St. P. A S. S. M. and Can. Pac. system lines.
They are subject
to call on any Interest date beginning Nov. 1 1916 as a whole, at 105 and
must be called yearly, beginning Nov. 1 1916, at 102 X by a sinking fund suf¬
ficient to retire Issue at or before maturity If not purchasaole for less.
The
$6,000,000 bonds sold represent cash Investment equal at least to their par
value, the remainder being reserved for not exceeding 80°* of cost of exten¬
sions and Improvements; In sinking fund Dec. 31 1920, $751,753.
V. 93,
p. 1463; V. 95. p. 745
Jan. 1 -Mar. 31
Jan. 1 -Dec. 31
EARNINGS.—
1921.
1920,
19201919.
Gross
$9,590,872 $10,220,704 $49,162,796 $42,661,595
Net after taxes._____._defl,819,853
def2,614
763,346
5,780,041
P.
P.
V. 100, p. 812; V.
^
v
_
REPORT.—Report for calendar year ending Dec. 31 1920:
Entire System—
1920.
1919.
1918.
Operating revenues
See
See
$35,995,292
Net earnings
above
above
$6,304,684
Federal compensation_. $9,718,884x110,430,423 $10,458,176
Other income
763,346
928,735
687,386
1917.
$34,540,491
$11,575,698
1,652,231
$10,482,230 $11,359,158 $11,145,562
$306,199
$1,038,574
U. S. RR. A. misc. chgs.
Int. on Wis. Cent, leased
447,176
447,079
line certificates
Other fixed charges, taxes
6,932,618
5,401,747
5,714,544
and terminal rentals.
$13,227,929
450,624
450,624
882,238
1,764,476
882,238
1,764,476
450,612
882,238
1,764,476
Gross income
_
Pf. div. Wis. Cent. (4%)
do M. St.P.A SSM (7 %)
Com. div.
do
(7%)
Balance, surplus
x Federal
compensation
1917.
def.$l,204,168def.$302,623 def.$37,993
a3,814,257
2,773,857
2,639,857
414,866
284,651
180.310
Net,aftertaxes
do
BONDS.—Can. Pac. guarantees 4% int. on all old bonds assenting to a
reduction of int. to 4%; also on consols of 1888.
(See V. 50, p. 784; V. 51,
P. 239.)
About one-half Minn. A Pac. bonds and practically all other issues
assented.
Abstract of Minneapolis Sault Ste. Marie & Atlantic mtge. in
1
1920:
1919.
...b$14,352,998 $13,384,871 $12,028,300 $11,005,963
Gross earnings
25 Broad St, New York
Q—F
636,000
320,000
825.000
450,000
2.250.000
2,500,000
2,143,000
3,560,900
2,094,000
500 Ac
1,000
1909
Where Interest <m<
Dividends are Payable
1 1934
MAN To
5,248,247
102,000
1,000
1.000
as a
Preferred
J
ig
Places
D June 11927
A
MAN Nov
'
495
Dividend
and Maturity
New
J
I *
5 g
1,000
1,000
1,000
1906
1899
138
1.409
$100 $25,792,600
Ac
950,000
5,282,000
3,072,000
13,244,000
1.000 Ac
4.085,956
1.000
36.000
1,000
200.000
1,000
1.020,000
250 Ac
93,750
1,000
230,000
1,388,800
""l",66o
7.650,095
1.000
7.156,000
1,000
101,000
100
25,206.800
loo
12,603,400
too
11,213,800
1,000
8,136.000
1,000
60.340.000
1,000
3.500,000
600
1877
1894
779
EqTr Ser O part due yearly
PePx
do
Ser D due $40,000 each Novl; call 102H-PeP
do
Ser E due $170,000 yly Feb 1 call 102H PePc
Am Locomo trusts due $6,250 quar V. 100, p 556—
Common
Last
M1KJ
RAILROAD COMPANIES
[For abbreviations, &c., see nores on page
'
[VOL. 112.
RAILWAY STOCKS AND BONDS
84
882,238
1,764,476
$902,898
$1,793,901
$1,160,824
less corporate expenses.
447,072
8,352,418
$1,331,113
Substantially the entire amount of pref. dlvs. of the Wisconsin Central
are paid to the "Soo" company proper and Included in Its "other Income.
Pres., E. Pennington; V.-P. A Gen. Mgr., G, R. Huntington; Sec., G. W.
Webster; Treas., H. N. Paist; Comp., C. W. Gardner, all of Minneapolis.—
(V. 110, p. 1642, 1973, 2193, 2287; V. 112, p. 470, 562, 653, 1283, 2191.)
'
•
MINNESOTA
TRANSFER
RY.—Union road owning 13.54 mlles^exMiiw. A St. Paul at Merrlam Park to Frid-
tendlng from junction with Chic.
(with stock yards, Ac.); side tracks, 89.93 miles; total, 103.47 miles.
V. 104, p. 1045. Stock, $63,000, equally owned by Chic. Mllw. A St. Paul,
Nor. Pac., Chlo. St. Paul Minn. A Omaha. Minn. A St. Louis, Chic. Burl. A
Qulncy, Great North., Chic. Great West , Minn. St. Paul A Sault Ste. Marie
and Chic. Rock Island A Pacific.
In July 1910 made a new 1st M.for
$3,500,000, callable all or part at 102X, beginning Feb. 1 1922; semi-ann.
sinking fund from 1917, X of 1%.
Pres., G. R. Huntington; Sec., F. 8.
Leavitt, St. Paul, Minn.—(V. 1(14, p. 1045; V. 107, p. 697.)
ley
miles south of
Stock auth. and outstanding
$3,940,000; par, $100.
Dividends of 6% yearly paid to Oct. 1 1907; 1913,
1%; 1914, to Aug. 1919, 2% (1% F. A A.); none since to May 1921.
Bonds.—1st M. bonds dated July 1 1909, limited to $10,000,000, are issu¬
able at $25,000 p. m.; they are subj. to call by lot at 110 for yearly sinking
fund of $49,200; also as an entire issue at same price.
Retired by s. r.
to July 1 1920 $617,800.
They are guar., p. A 1., by U. S. Lumber Co.
MISSISSIPPI
CENTRAL RR.—Owns from a point 14
Hattfeeburg, Miss., to
V
$. sfllR.
The
Natchez, 164 miles.
Admin, in Dec. 1920 paid the company
V. 112. p. 162.
settlement of all accounts.
Jan.
1 -Afar.
31
$220,000 as a final
Jan. 1 -Dec. 31
1921.
.
1920.
1920.
$261,771 1 $225,841 $1,069,815
defl9,986 defl81,207 def468,033
REPORT.—For cal. year 1917, in V. 106, p. 70:
Gross
Net, after
Other
Int. &
Divs.
Earns.
Taxes.
Income. Sink. Fd
(2%)
1917
$974,749
$250,245 $156,294 $248,670 $78,754
EARNINGS.—
I-.
Gross
Net after taxes
—
1916::::: 757.093
160.504
251.191
73740
Balance.
Surplus.
$79,114
34 535
F L. Peck; Sec., G. F. Royce; Treas., E. S. Peck; Gen. Mgr.,
Faulkner; And., Chas. Ehlers, Hattiesburg, Miss.
Office, Hatties-
Pres
L
204:902
1919.
$1,011,409
def241,350
E
,
Miss.
Fiscal agents, Callaway, Fish A Co., 37 Wall St., N. Y.—
(VTl06rp.76.402. 802; V. 108. p. 378; V 112, p 162,470.)
MISSISSIPPI RIVER & BONNE TERRE RY.—;Owns Riverside Mo.,
on Mississippi River, to Doe Run, Mo., 46.44 miles, with branches, 18.10 m.j
also 43.44 miles of Industrial tracks; total tracks about 108 miles.
STOCK.—Stock auth. and outstanding. $3,000,000: par $100.
Divs.
1900 to 1910, 6%; 1910-11, 7%; 1911-12, 6%; 1912-13, 5%; 1916-20, 6%.
BONDS.—The $2,500,000 1st M. gold 5s of 1911 are Becured by a closed
first mtge. on the property owned and hereafter acquired except about onehalf In value of the equipment, and further
by deposit of a $2,500,000
20-year 5% note of the St. Joseph Lead Co.
They are redeemable at 105
as a whole or by lot for a sinking fund of $25,000 yearly for first 5 years and
$50,000 a year thereafter.
V. 93, p. 589, 871.
On Dec. 31 1920 $406,000
burg,'
were
held in sinking
fund.
MAY, 1921.]
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations, Ac.,
see notes
Miles
on
page
Date
Par
Amount
Rate
When
Last
Dividend
Road
6]
Bonds
Value
Outstanding
%
Payable
and
Maturity
tfo&Ill Br & Belt—StC M & St L B let M red g-SSt.zc*
1901
mortgage 52,500,000 authorized g_. *
Missouri Kansas & Texas—Common stock
Preferred stock 4% non-cumulative
1st M g(in '16 Oent Tr Oo resigned as trustee).Us.s
Second mortgage gold
Baa
First Extension mortgage gold $3,254,000Ce.xo*
St Louis Division First Refunding mortgage.F.xxo*
1890
1890
500
600
163
1894
1901
162
162
182
1892
130
227
1890
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100 Ac
Ce.xxo*
gold, assumed ..Fr.xo*
117
Qen M
$20,000,000 gold sink fund red at par_N.xo*
S W C A Imp 1st M assumed sink fund oall 125--F*
Consol mortgage $125,000,000 gold authorized—x
Two-year seour g notes ext. In 1915 red 101.-Ce.xc
Equipt trust notes gold $95,000 due s-a call par.Cex
do
do
Series A $34,000 due s-a
CP
Securities of Allied Companies—
Dallas A Waoo 1st M $20,000 p mggu p &1-Ce.xxo*
M KAT of Tpx Receivers' certif $3,000,000 auth__
M K AT of Tex IstM $20,000 pm—Ce.xxo*\Gu.p.
do
receiver's equip notes, Ser A, B & O
Boonv Bridge IstMg sfd V.73.p^494-Ce.xc*iA L_
Katy Off BIdg Oo 1st M
_c»Ar*
EARNINGS.—For
calendar
1892
1893
1902
1903
1904
1906
See text.
1913
1913
1914
~~i~,66o
66
1890
1917
225|
1892
1,000
1,000 Ac
1,000
1,000
1920
1901
309
154
57
378
49
years:
KANSAS
&
St. Louis.
TEXAS RY.—Operates a line with north¬
City, Junction City and Hannibal,
Mo., extending southerly across the Oklahoma and the Texas cotton belt
to tidewater at Galveston, on the Gulf of Mexico, and to San Antonio,
Tex., and Shreveport, La., with branches.
Kansas
4 g
Denlson to Hillsb., via Dallas..
18
121
Ry
329
Op. Jointly (a.)—M.K.A T.Ry,( 70 m.)
St. Louis to Machens. Mo
27
Kansas City to Paola
45
Dewey to Bartlesvllle
4
(&) M. K. A T. of Tex. (172 m.)—
Wichita Falls AN.
Whitesboro
W.
N.
Fort Worth
Galveston
Austin to San Marcos (see Int.
A Gt. Nor.; V. 94, p. 416)...
71
50
30
Other lines
87
21
to
150
353
(♦See this company.)
Total operated Dec. 31 1920
In May 1918 received Federal permission to construct a
...3,807
100-mile con¬
its Trinity division, and Mart on the
International A Great Northern Ry.
V. 106, p. 2229.
nection between Weldon,
Tex.,
March *16 int
unpaid
Jan 1 1916 Int
July 1 1929
Apr 1 1940
May 1 1916
A
M
A
J
A
J
A
11936
unpaid
Jan 1 1916 Int unpaid
Nov 1915 Int not
paid
Jne'2l-June '23 Dec *20 prln A Int
paid
Julj'21-July '24 Jan 1921 prin A int paid
MAN Nov 1 1940
F A A 15 Feb 15 1922
MAS Sept 1 1942
*
To Sept 1922
1951
Quar.
4 6
%
MAN Nov
J
A
Dec
4A 5 g
A
Apr
2 g
5 g
A
Jan
A
5 g
A
2g
6
A
1932
1923
1939
Nov ' 20 Int pd May '21
National Oity Bank, N Y
Sept 1916 int unpaid
Nov ' 20 Int pd May r21
In 1920 coup pd as due
61 Broadway. N Y
Jan
Jan
A
g
do
A
Jan
1925
1940
July 1 1939
O Apr 1 1924
"
1918 int last paid
do
do
do
do
61 Bway, NY,JuIy'19 p'd
Ohase Nat Bank, N Y
Y.# Secretary.
on
ORGANIZATION .Ac.—Reorg. in 1890 without foreclosure. V .49.P.719
As to Wichita Falls A Northwestern Ry. (placed In hands of receiver In
June 1917) see separate statement
also committees
1057.
RECEIVERSHIP.—Pres. Charles E. Schaff was
below.
V.
95,
p.
on Sept. 27 1915 appointed receiver for the company by the U.S. Circuit Court at St. Louis.
Hallgarten A Co. and J. A W. Seligman A Co. are preparing a reorganization
plan. V. 105, p. 909, 998,1209. Vi 102, p. 886. In Dec. 1915 Central Trust
Co.. mtge. trustee, filed suit to foreclose Consol. Mtge. of 1910 (bonds all
Trust Co. brought suit to foreclose 1915.
Sledged as collateral) for default Oct. 1 the First AApril 1916 Farmers' Loan
In Ref. Mtge. V. 103, p.
:
1119.
In Feb. 1917 suit was brought to foreclose the $20,000,000 2d Mtge.
(See below and V. 101. p. 1973) and In March 1917 to foreclose M. K. A
T. Ry. of Texas 1st M.—V. 104, p. 664, 1045.
In Dec. 1920 $3,000,000 6% receiver's certificates were outstanding on
M. K. A T. Ry. of Texas, ranking ahead of its $4,505,000 first mtge. bonds
of 1892; $3,000,000 auth.
These certificates were extended !
months at
maturity Aug. 15 1918, and later extended to mature Feb. 15 1920 and
again to Feb. 15 1921 and Feb. 15 1922.
V. 107, p 697; V
104, p. 764,
2343, 2452; V. 112, p. 1024.
Reports of experts as to needs of system and probable results of Improve¬
ment additions, see V. 103,
p. 1977; V. 104, p. 1592, 664, 656; V. 105.
V.
102,
p.
67.
First A Ref. M. 4% Bonds.—Alexander J.
Hemphill.
Cox. Vlce-Pres. of Guaranty Trust Co.. as Sec.
V.
1093, 1189; V. 102, p. 522; V. 112,
p.
p.
162.
1917.
Chairman; W. O.
103, v. 1508: V. 101.
$6,386,300 deposited June
General Mtge. 414$.—Otto T. Bannard, Chairman: Herbert W.
Morse,
Sec., 26 Broad St., N. Y.; N. Y. Tr. Co., depositary.
V. 101, p. 1093:
V. 102, p. 253, 1436, 1626, 1989.
$5,305,000 deposited Nov. 10 1919.
Southwestern Coal & Impt. Is* 6s. due 1929.—Chairman, James B. Col-
Trust Co., New York.
Sate; Sec., Sherwood E. Hall, both of N. Y. Depositary, Farmers' Loan
i
Pref. Stock and Common Stock.—Alvin W. Krech, Chairman; J. Y. RobJr.,' Sec.
Equitable Trust Co., depositary. V. 101, p. 1272.
bins
Missouri Kansas A Eastern Ry. Is* M. 5%
Bonds.—Chairman, John W.
Sec., George E. Warren, 60 Broadway, N. Y. Depositaries:
Stedman;
Columbia Trust Co., N. Y.; Conn. Tr. A Safe
Dep. Co., Hartford.
Ma¬
jority deposited. V. 102, p. 886; V. 103, p. 1210, 2238; V. 104, p. 2010.
Kansas City A Pacific 1st M. 4s.—Chairman, Edward O.
Delaiieia;
Sec., J. O. Traphagen, 46 Wall St., N. Y.
Depositary, Franklin Trust
Co.. N. Y.
V.
104,
Over 70%
deposited. V. 102, p. 1163. 1346; V. 103. p. 844;
256; V. 105, p. 389; V. 108, p. 579.
p.
Sherman
Shreveport A Southern Ry. lsi M. 5s.—R. Walter Leigh. Chair¬
Joseph S. Dale, 52 William St., Sec.
Depositary. Columbia Trust
V. 101, p. 1274; V. 102, p.
713.*
M. K. A Oklahoma 1st M. 5s.—John W. Piatten,
Chairman; U. S.
Y., depositary.
V. 102, p. 800, 1346; V. 103.
V. 104, p. 1702.
—
Houston to
172
Whitesboro to Henrietta
Greenville to Shreveport
Other branches
do
Sept 1 2004
Jan
A
text A
6
A Trust Co.. N.
branches
A
A
5 g
6
•Wichita Falls Ry
Other lines
M.K.A T.of Tex.-Owned (1,119 m.)—
Red Riv.to Houston,via Ft.W.
357
A
M
Sg
Hannibal, Mo., to Franklin Jet.
K. C., Mo., to Parsons, Kan...
Parsons, Kan.»to Okla. City—
Junction City to Parsons, Kan.
K. C. Juno, to Paola, Kan
Oklahoma City to Atoka
Osage June, to Verdark, Okla..
Fallls to Guthrie, Okla
Other
M
Pat/able
Division, First Mtge. Ref. Gold 4s.—Edwin S. Marston, Pres.
Farmers *Ln. A Tr. Co., Chairman; Augustus V.
Heely, 22 William St.,
man;
23
154
A
2g
Co., N. Y.
79
A
See
M.K.A T.of Tex.-Leases (448 m.)—
•Tex. Cent. (99% stock owned).
309
♦
A
iH
M.K.A T.Ry.—Owned (1663!m.) Miles.
Jet. near St. Louis to Red River
629
105
94
203
158
86
132
A
5 g
5 g
4 g
are
St Louis Union Trust Oo
St. Louis
MISSOURI ILLINOIS RR.—The I.-S. C. Commission has authorized
this company to acquire and operate a line of road formerly owned and oper¬
ated by the Illinois Southern Ry., extending from Salem, 111., to Bismarck,
Mo., a distance of 133.41 miles (with branches).
See Illinois Southern Ry.
—(V. 112, p. 744, 1283.)
at
A
A
tg
5 C
Where Interest and
Dividends
coll ateral.
MISSOURI & ILLINOIS BRIDGE & BELT RR.—Has bridge 2,100 feet
long across the Mississippi River at Alton, Til.; also 2.75 miles of road.
Owned by C. C. C. A St. Louis, Louisville & Nashville, Chic. Peoria A St.
Louis, Bait. A Ohio, Missouri Pac., Wabash, Chic. Rock Island A Pac.
Chic. A East. 111., Mo. Kan. A Tex. and Pitts., Cinn., Chic. A St. Louis
(Penn. RR system).
Incorp. in 1904 as successor of the St. Clair Madison
A St. Louis Belt RR.
V. 79, p. 1642, 681; V. 103, p. 2156.
Stock,
$2,500,000; outstanding, $143,000.
Pres., Henry Miller; Sec. A Treas.,
W. F. Bender, Railway Exchange BIdg., St. Louis.—(V. 103,
p. 2156.)
terminals
A
1,000
1,000
1,000
838.000
1,000 x3,000,000
1,000
883,000
1,000
1.850,000
w$6,8 30,000.
v$448 .000; o
as
A
t *
11951
11951
Places
Nov 10 '13 2% Cheoks mailed
June 1 1990
June '20 int paid Dec '20
June 11990
Feb 1916 int unpaid
Nov 11944
Nov 1915 Int not
paid
Apr 12001
Apr 1916 Int unpaid
Oct 1916 int unpaid
Apr 1 1942
Apr 1 1942
Apr 1916 int unpaid
June 1 1943
Dec 1915 int unpaid
Aug 1 1990
Aug 1920 coup pd Feb'21
May 11942
Nov '20 Int paid May *21
March *16 mt unpaid
Sept 1 1943
A
i g
4 g
1,340.000
2.241,000
4,505,000
675,000
897,000
200,000
2,000.000
2,098.000
1.000
500 Ac
1912
1893
1909
1910
1911
1909
1919
Jan
Jan
t*
4 g
18,974,000
475,000
238,000
1,000
1.000
Net Op. Inc.
Other Inc.
Charges.
Dividends.
Balance.
..$191,026
$115,263
$120,694
$180,000
sur.$5,595
111,818
151,083
131,121
180,000
def.48,220
Pres., Clinton fl. Crane: 1st V.-P., E. C. Smith; 2d V.-P., F. J. Thomure;
Treas. A Sec.. F. H. Dearing.
N. Y. office. 61 Broadway.—(V. 101, p.48.)
MISSOURI
&o
$ 745,250
1910
1920
1919
ern
Ac
1,000
1,000
1889
OentlstM$2,000,000g redll0($150,0004s) F.xc*
Wichita Falls A N W 1st M g red 105
FC.xcAr
1st coll Hen M gold s f
FC.xc
First A Ref M gold red 105
Usm.xc*
Beau A Gt No 1st Mg $17,500 p m red 102 H
G
Ban Antonio Beit A Term Ry 1st M notes g text__c
t-x There are also pledged under Consol. Mtges.: Of
x There are also $601,000 held in treasury or pieaged
737.000
63,283,257
13,000,000
39,999,500
20,000,000
3,253,000
1,924,000
4.000,000
58,000
1,689,000
2,500,000
5.468,000
2,347,000
v9.992.000
wlO 421000
743,000
1,599
1,599
M K A Okla 1st M $5,468,000 g assumed—Ce.xo*
Texas AOkla 1st M $2,3*7.000 gold assumed-Ce.xo*
First & Ref mtge $40,000,000 gold (see text)—F.x
Tex
1,000
100
100
Missouri Kansas & Eastern IstM gold assumed—xx
Second mortgage guaranteed, being retired—xx
Sh Sh A So 1st M (120,000 p m) g ass—
$1,000
1904
Consolidated
Kansas City A Pacific 1st M
85
Boonville
Bridge
1st
M.
4s.—Chairman,
p.
Mtge1
60,1087*
Robert
Emerson W. Judd, 5 Nassau St.
Depositary,
N. Y.
V. 102, p. 1625.
Majority deposited.
Struthers Jr.; Sec.,
Metropolitan Trust Co.,
V. 103, p. 320.
Waco Ry. lsi M. 5s.—Theodore H. Banks. Chairman; Martin
Watts, Sec'y, 116 B'way, N. Y,
V. 104, p. 659; V. 105, p. 1898.
Dallas A
8.
M. K. A T. Ry. ofTexas Is* M. 5%
Bonds.—Chairman, Jules S. BacheJ
depositary. Empire Trust Co., N. Y.; Sec., Edward P. Goetz, 42 Broad¬
way. N. Y.
V. 102, p. 1060, 1540; V. 103. p. 61,844.
Texas A Oklahoma Ry. Is* M. 5s.—F. N. B. Close,
Chairman; Perry B.
Bogue, 10 Wall St., Sec.; Bankers Trust Co., depositary.
V. 101. p. 1189:
V. 102. p. 154, 801. 887.
Wichita Falls A N. W. 1st 5s, 1939.—Chairman, Oscar L.
Gubelman;
Secretary, F. W. Seymour, 120 Broadway.
Depositary, Bankers' Tr. Co.,
N. Y.. with Wisconsin Trust Co., Milwaukee, as
agent.
V. 105, p. 717.
Wichita Falls A N. W. (Panhandle Division) ls( Lien Coll. Trust
5s, due
Chairman, Robert M. Lansing; Sec., John R. Gray, both of
Jan. 1 1925.
Chicago.
Depositary Nat. City Bank of Chicago.
Wichita Falls A N. W.
Ry. First A Ref. M. 5s — Ellsha Walker. Chair¬
G. N. Lindsay, Sec., 25 Broad St., N. Y.
Depositary, U. S. Mtge.
A Trust Co., N. Y.
V. 104, D. 73, 2453; V. 105, p. 73.
Issued to Dec. 31
man;
1917. $3,601,000. of which $519,000 is owned by M. K. A T. By. and $82.pledged for loan.
000 is
LAND GRANT.—The U. S. Supreme Court on Nov
9 1914 decided
against the company the suit to recover the value of the land grant In Okla¬
homa, 3,110,400 acres, subject to Indian title.
DIVIDENDS.—On pref., 1900 to Nov. 1913. 4% yrly.; none since.
BONDS.—M.
K. A T. 1st and 2d mtges. of 1890 (abstracts in V
51,
495) cover, besides right to land grant, 1,599 miles of road. Including line
Hannibal, Mo., to Boggy Tank (except 71 miles trackage), sundry branches,
p.
*nd Sherman ShreveDort & Southern, but see below.
Mo.
Kan. A Eastern bonds (assumed).
V. 63, p.
V. 75, p. 608.
30; V. 72,
p.
1034;
.
^
p.
^
998, 1104.
Application for a co-receiver was denied in Oct.
1617, 1104, 998, 909.
Default—Interest Payments.—On Dec. 31 1920 the interest matured
fumed
since
at
consolidation in 1901.
V. 72, p. 1034,1115.
Kansas A Oklahoma and Texas A Oklahoma, bonds. Issued
per mile, guaranteed, have been assumed.
V. 74, p. 1038;
V. 75, p. 185. 733; V. 77,
p. 252; V. 78. p. 48; V. 79. p. 968; V-102. p. 800.
The First and Refunding 4s of 1904 are a second Hen on 507 miles of
on
The Missouri
Sept. 27 1915 remaining unpaid aggregated $19,978,170: sinking fund pay¬
ments in default, $2,906,172.
V. 107, p. 495.
The earliest coupon unpaid
each Issue in default, and the date of payment of deferred Interest, may
be learned from table at head of page.—(V. 108 p. 1823, 2330; V. 109. p
on
1700, 2074-)
Reorganization Committee.—At a meeting of the directors on May 18 1920
following reorganization committee was appointed: Alvin W. Krech,
Chairman; Frank H. Davis, Andrew J. Miller, James Speyer, E. R. Tinker
and Frank Trumbull.
J. Y. Robbins, 37 Wall St., Is Secretary.
Mr. Krech, Chairman, stated that a plan of reorganization is under dis¬
cussion, and as soon as formulated will be submitted to the Inter-State
Commerce Commission
V. 110, p. 2076, 1849.
the
PROTECTIVE COMMITTEES (see V. 101. p. 1903. 1189. 1272);
Two-Year Secured Gold Notes (Extended and Unextended).—Willard V.
King. Chairman: C. A. Austin, Sec., 80 Broadway, N. Y. City; Central
Trust Co., depositary.
Of the $19,000,000 notes issued, $9,176,000 has
been deposited.
V. 101, p. 1093, 1553, 1973; V. 102, p. 1250, 1436.
First M. 4s due June 1 1990.—William Church Osborn, Chairman; Paul
G. Tomlinson, Secy.; U. S. Trust Co., N. Y., depositary.
V. 102, p: 67
1918 coupon was paid June 1919.
V. 108, p. 2330.
Dutch Committee for 1st 4s.—Pres., B. W. Van Vloten. V. 102, p. 154.
Second Mtge. Bonds.—E. G. Merrill, Pres. Union Trust Co., Chairman
G. K. B. Wade. Sec., 80 Broadway.
V. 101. p. 1189, 2145; V. 102. p. 522.
2077. 2254; V. 103, p. 239. 579.
$5,180,500 deposited Nov. 10 1919.
Dutch Committee.—J. H. Wysman, Amsterdam, President. V.102,p.154
First Extension 5s of 1894.
John W. Piatten. Chairman; Chauncey H.
Murphey, 55 Cedar St., N. Y.. Sec.
V. 101. p. 1272; V. 102, p. 345.
Sherman Shreveport A Southern mtge., limited to $3,089,000, ail
Issued, of
which $2,000,000 pledged under M. K.T. A
mortgages.
Bonds were as-
1917.
V. 105, p.
1
$20,000
road and on the first mtge. bonds of Denlson A Washita Valley
Ry., 4.7
miles, and a first lien on terminals and equipment of estimated value of
$24,380,000.
V. 79. p. 968, 1281, 1332; V. 80, p. 222, 712; V. 81. p. 013:
V. 82. p. 987, 1497; V. 86.
p. lldl; V. 88. p. 158, 295.
Gen. M. 4^s. V. 82. p. 692; V. 84, p. 1551; V. 85. p. 346, 654; V.
88,
p. 101, 158.
I
Consolidated mortgage of 1910 Is limited to $125,000,000;
$60,000,000 reprimarily for refunding and the remainder are Issuable only under
The bonds were on Dec. 31d919 secured
by the pledge of
$13,073,000 bonds and $0,624,000 stocks. Including $4,770,000 M. K. AT.
Term. Co. of St. Louis 1st 5s, $6,830,000 M. K. A T. gen. 4Hs, $1,310,006
Texas Central pref. and $2,672,300 common stock, and by a Hen on the
wrved
restrictions.
property of the
M.
K. A T.
subject to existing Hens.
On
Dec. 31
1919
$30,292,000 of the Consolidated bonds had been issued and were pledged
to secure the $19,000,000 two-year notes due as extended
May 1 1916,
and $4,467,000 were pledged as security for bills payable.
As to fore¬
closure suit, see above.
V. 92.JP. 725, 795; V. 90, p. 1491; V. 91, p. 336;
V. 92, p. 1179, 1375, 1500.
The $19,000,000 Secured gold notes dated
May 1 1913 were extended May 1 1915 for one year at 6%.
V. 90, p. 1229;
V. 100, p.
1349, 1150; V. 101. p. 840: V. 104, p. 1045
McR. A T. of Tex. equipment notes authorized, V. Ill, p. 1852.
M. K. A T. of Tex. mtge. $10,000,000. V. 60. p. 004; V.102,
p. 1060,1020.
The Southwestern Coal A Improvement Co.'s bonds are guaranteed.
Mort¬
gage ($1,000,000) covers ooal lands In Indian Territory; the company also
owns 2,350 acres additional. Den. A Wash. Ry., 4.7 miles, mines. Ac.
.
f
Miles
Me & N Ark RR—Roc ctfs $2,600,000
Missouri Pacific RR—
Common stock (auth $200,000,000)
Pref stock 6% convert cum
First A Ref Mtge gold
Par
Amount
Rate
When
Value
Outstanding
%
Payable
and Maturity
$250 Ac
red par
5 g
5 g
a
107H & lnt__y
y
y
y
Bayc*Ar*
6.693
fig
6.693
500 Ac
500 Ac
500 Ac
1920
1917
6.693
6
4 g
F
A
M
A
4 g
F
A
J
11918
Merc Trust Co, 8t L. Mo
Go's office,120 Bway.NY
do
do
A
fig
500 Ac
6,397,500
500 Ac a51,350.000
13.641,000
9,044,000
amounting to $1,628,00
0, hav
e
been
A
A Feb
F
A
A Jan
1 1965
1 1923
F
A
A Aug
1 1920
do
A Feb
1 1949
do
S Mar 1 1975
do
do
do
do
do
do
do
do
do
A
Aug 1 1938
J July 1 1938
N May 1 1938
A
O Oct
1 1938
do
M
A
do
A
5
M
A
N July 1 1938
N Nov. 1921
fig
J
A
D Dec '21-Dec '24 Girard
6^
4 g
F
A
A Feb 1
J
A
D June 1 1948
4
S Mar 1
M
A
A
A
4 g
4 g
J
A
M
A
Apr 1 1931
J July 1 1929
N May 1 1933
Phils
fig
A
A
O Oct
4 g
5
J
A
5
M
A
5
M
A
5
V 95. p
J
A
4
J
A
J
5 g
4
J
&
J
J
&
J July
do
do
do
o
do
Co office. 120 B'way.NY
do
do
1 1923
St Louis Union Tr Co
J July 1 1939
To June 1922
Townsend, Whelen, Phil a
Central Union Trust, NY
Phil a Trust Co
N Nov 1921
S
Co,
Trust
120 Broadway, N Y
Co's office,120 Bway.NY
1926
5 g
fig
Q—M
do
Central Union Trus«, NY
'25 to '36
Sept'21-Sept '23
D Dec "21-Dec '24 Girard Trust Co,
Phila
1747.
July 11921 2% JPMorgan ACo, N Y, ALon
J P Morgan A Co, N Y
July 1 1945
do
do
1 1945
to retire b onds of t he Centr al Branch
deposite d
do
1
do
M
5 g
4H g A
Ba.c
$1,200.000—
Bonds of the Gen. Mtge.,
F
A
..
17,840.500
1917
1917
1917
0,693
0.693
(1) Missouri Pacific Railway Securities Outstanding
0,990,000
1.000
1868
285
Pacific RR of Missouri 1st M ext In 1887 gold. Bazz
2,573,000
1,000
1871
Second mtge ext In 1891 in gold St L to K O.xc*
800,000
500 Ac
1872
First mtge St Louis real estate ext in 1892 gold.x
237.500
500 A*
1873
13
First mtge Oar on Br g gu p A1 (end) ext 1893---*
8,828.000
1,000
1870
ThirdMext 1890red 106 (V 83,p492,1348) Ce.z
147,000
1,000
1911
Equip notes series 2 due $147,000 s-a red par..Ce.x
98,000
1,000
1914
Equip notes series 3 gold $14,000 s-a
1,836,000
1,000
1921
Equip trust ctf Ser A due $153,000 yrly_.CP.xxxc*
si.628.000
1.000
1898
100
Central Br Un Pac 1st M g
Un.x
806.000
1.000
1886
84
Verdigris Vai Indep A W 1st M « guar
s
(2) Former St. Louis Iron Mt. A So., Ac.—
1,000 42,924.000
1.497 '81-*87
Gen Cons A L'd Gr't Mtge ($45,000,000) g Ba.xc*
1.000 30,551,000
1899
612
Unifying A Refund M gold $40,000,000.Mp.xc*Ar
1,000Ac 34,548.000
1903
772
River A Gulf DIvb 1st M $50,000,000 g.Ba.xc*Ar*
880.000
1,000
1903
44
Pine Bluff a West lstM assumed red 10 years 105xxx
1,140,000
1,000
1899
57
Little Rock A Hot Sp W 1st M g. assumed.__SStxxx
45,000
1,000
1913
Iron Mt car trusts ser V, due $45,000 yrly —-xxx
145,000
1,000
1911
do
Ser 2 due $145,000 s-a red par...Ce.x
112,000
1,000
1914
do
Ser 3 due $25,000 seml-ann
—zz
140,000
1,000
1914
do
Ser 4 $20,000 due semi-annually
zz
Cos" and V 92, p 883:
"Indu atrial
Am Refrig Transit equip notes gold not guar—See
100
900,000
Mobile A Birmingham RR—Pref stock (1900.000)....
600,000
1895 200, 1000
150
Prior
lien
gold $600,000—
Ce.c
1,200,000
200.1000
1895
150
mortgage
M
82,839,500
100 «71.800.100
—
a.c*Ar*
Series D callable (all) par and lnt
Gen M $53,000,000 g call par aft 1920—
First
N May
6
$1,849,000
100
1918 call 107H
Series A callable on or after 1921
Series B callable (all) par A Lnt
Series O callable (all) par A lnt
Places Where Interest and
Dividends are Payable
Last Dividend
Bonds
1915
first page]
Date
Road
RAILROAD COMPANIES
[For abbreviations. Acsee notes on
[VOL. 112.
BONDS
EAILWAY STOCKS AND
86
Unio
n
Pacific Ry.
1st Mtge,.
Ac. (see text).
In May 1913 sold
eajjip- notes V. 90, p. 1489. In Aug
of which $50,000 paid in cash and
$1,900,000 5%
1916 purchased rolling stock for $895,475,
remainder due in yearly rental payments.
101. D. 694.
Guaranty San Antonio Belt A Terminal Ry., see that company
and V. 108. p. 1061.
V
.
Jan.
_......
Net after taxes
ANNUAL REPORT.—Report for 1920:
1 -Mar. 31—
'
.
1919.
1918.
1917.
3,839
3,861
3,866
$72,914,737 $61,825,376 $54,138,799 $43,344,150
& taxes.. 71,969,734
59,018,765 49,100,565 35,129,225
1920.
Years ending Dec. 31.
Average miles.£
Gross earnings..
Operating exp.
.
for rolling stock
1921.
1920.
$15,153,606 $16,357,662
1,945,771
202,857
EARNINGS.—
Gross
below
^
j
Equipment trusts ($8,847,000) issued to Director-General
allocated to this company.
See article on page 3.
*
(together aggregating $135,945,500 In June 1917, exclusive of the equipment
maturing prior to July 1 1918, which were provided for under plan);
never exceed three times the capital stock at the time outstanding,
nor shall issues above $450,000,000 exceed 80% of the expenditures for im¬
trust
shall
provements and additions.
The $46,923,150 bonds issuable under the
plan bear 5% Interest and mature and are callable (as an entirety only) in
series as shown In table above; future issues must not carry over 6 % inter¬
est nor mature earlier than June 1 1948. and If desired
may be made con¬
vertible.
Now issuable (see table above). $46,923,000. less $6,398,700
retire $5,817,000 old Consol. 1st
paid off at maturity.
M. Is a first lien, 3,354 miles;
2d lien, 1,614 miles; 3d lien, 1,439 miles; 4th lien, 285 miles; a first lien
through deposit of stock, 3 miles; total, 6,693 miles; and all mileage here¬
(110%) reserved in June 1918 to
Series A
6s due Nov. 1 1920.
This latter Lssue was
First main track upon which First A Ref.
after built or purchased with these bonds.
(2) General Mortgage Bonds—Total
and Int. on and after March 1 1921.
$945,003
income
$3,258,450
6,855,343
2,152,050
6,736,793
1,684,291
$7,301,376
$5,162,634
Interest oh bonds, Ac...
Rentals,
Ac
Balance, deficit......
*
$5,038,234
$2,806,611
$1,706,017
Operating Income
Net
$5,390,795
6,761,282
$8,214,925
1,336,935
$2,707,424 *$1,379,573
E. Schaff, St. Louis; Sec., J. W, Reid, Parsons,
Kan.; Treas., F. Johnson, St. Louis.
A Receiver, C.
DIRECTORS.—C. E. Spooner, A. S. Johnson,
W. W, Brown, Parsons,
Edw. A. Faust and Charles E. Schaff, St. Louis;
Black, Stuyvesant Fish, Walter S. Crandell, A. J.
Miller, James Speyer, 8. E. Kilner, Alvin W. Krech, E. R. Tinker, Jr.,
N. Y.
Office, 61 Broadway, N. Y.—(V. 112, p. 162, 1024, 1978, 2191.)
Kan.; J.
M.
Bryson,
A. C. Rearick, Harry S.
MISSOURI & NORTH ARKANSAS RR.—Joplln, Mo., to Helena, Ark
865.24 miles, of which Neosho, Mo., to Joplln, 19 miles, and Sellgman, Mo
to Wayne, 9 miles, are trackage. V. 86, p. 168; V. 82 D. 569.1269: V.83.P.39)
Compensation.—$175,000 yearly during Federal control.
Chas. A. Phelan of St. Louis is now sole receiver.
V. 110, p. 1290.
In April 1915 $2,500,000 6% 3-ytar receiver's certfs. secured by a first
lien on the property were authorized, of which $2,062,750 wore sold to retlr*
the outstanding $1,472,000 certfs. due May 1 and for lmpts.,Ac.Y.100,d.2010
Stock
authorized, $25,000 per mile.
Entire stock and Donda art
Federal
and St. Louis Iron Mountain A Southern Ry. Co.
Approxi¬
mately $2,900,000 bonds are still undistributed and are held by Reorgan¬
ization Managers on account of undeposited securities, which are approxi¬
mately as follows:
$1,628,000 Central Branch U. P. 1st Mtge. 4% bonds;
19,000 Central Branch Railway 1st Mtge. 4% bonds;
21,000 Kansas A Colorado Pacific 1st A Ref. Mtge, bonds;
2,500,000 stock of the Missouri Pacific Ry. Co., which either has not been
deposited or assessment paid in full.
Equipment trusts issued to Director-General for rolling stock allocated
V.
104, p. 664.
Outstanding Feb. 1918, $8,340.00C
Car trusts outstanding Dec. 31 1917. $13,294
each of stocks and bonds.
Jan.
EARNINGS
Gross
...
Net after taxes,._
1—Mar. 31
1920.
1921
—
...
$291,750
def141,570
$478,536
def96,734
$2,115,210
defl93,705
1919.
$1,587,826
def588,897
Net after
Years ending—
—
-
-----
,
MISSOURI PACIFIC RR.—Operates an important system extending
St. Louis, Mo., to Omaha, Neb., and Pueblo, Colo., via Kansas
from
City, Mo., and also to Texarkana, Ark., Lake Charles, La., and Johnston
City, 111.
Owns about 6,783 miles of first main track, viz.:
Missouri
1,444 m.l Colorado
152 in. I Louisiana
556 nu
Kansas
2,213 m. Illinois...
194 m. (Oklahoma
162 m
Nebraska
349 m. I Arkansas
1.713 m.l
Also has leased lines and trackage rights aggregating 517 miles, making
the total miles of main track Dec. 31 1920, 7,300.
The trackage includes
193 miles of Tex. Pac. Ry. In Louisiana affording entrance to New Orleans.
ORGANIZATION.—Incorp. In Missouri March 6 1917 and about June 1
properties of Mo. Pac. Ry. and its subsidiary the St.Louis
succeeded to the
Iron Mt.. foreclosed per plan in V. 101, p. 130; V. 103. p. 400. 493 579;
V. 104, p. 863.1899.
(As to K. O. A N. w. RR.. see V. 104. p. 1591 2010.)
The Missouri Pacific RR. Co. on Dec. 31 1920 owned 100,000 shares of
common
stock of the Denver A Rio Grande RR.
As to receivership in 1918
see that co., Y. 105, p. 1420, 1618.
Also owned Dec. 31 1920 $10,000,000
stock, $23,703,000 2d Mtge. bonds and $2,979,420 overdue notes of the
Texas A Pacific Rv.
The 2nd Mtge. bonds are pledged as part security for
the Unifying A Ref. Mtge. 4s of the former St. L. Iron Mtn. A Sou. Ry Co
Official statement as to properties, securities. Ac
V. 105. p. 498
1802
Federal Compensation. $14,312,343 (contract signed.)
OLD BONDS, ALL ISSUES.—8ee issue of June 26 1915.
Remnants
of three old bond Issues Included in plan of reorganization are still being ex¬
changed under terms of plan, viz., Central Branch Ry. 1st 4s and Lexing¬
ton Div. 5s and Central Branch Un. Pac. 1st Mtge. 4s.
V. 105 p 498
STOCK.—The new stock Issues (.compare V. iui, p. 131) embrace
(1) A«r Convertible 6% Pref. Stock (p. A d.)—Cumulative from June 30
1918.
Convertible at holders' option at par Into common stock at par
subject to adjustment of dividends.
Callable by company as an entire
Issue at 107 >4% and div., subject to conversion privilege.
Full voting
power. Authorized, $100,000,000. Presently Issuable not over $71 800 100
including $64,500 reserved In May 1921 to retire $ for $ when presented'
$64,500 Lexington Div. 5s, etc.
(2) New Common Stock, auth., $200,000,000; presently lss.. $82,839,500.
All the common and pref. stocks Issued are In a voting trust expiring
April 1922 or earlier, at option of trustees.
The voting trustees are Otto
K. Kahn and Robert Wlnsor.
Y. 104. p. 2343.
BONDS—First A Ref. Mtge. Bonds—Total Issue, including amounts
reserved for refunding, improvements, extensions, Ac., under restrictions
is limited (except with further consent of a majority in amount of the stock¬
holders) to $450,000,000 and further limited so that tne total at any time,
Including amounts reserved for refunding bonds and equipment trusts
company.
See article on page 3.
Government loan, V. Ill, p. 792, 1566, 2229;
Jan. 1 -Mar. 31
V. 112, p. 372.
Jan. 1-Dec. 31
1921.
1920.
1920.
$26,867,837 $28,473,880$118,132,429
879,280
3,244,45})
3,352,739
EARNINGS.—
Gross
Net after taxes...
1919.
$93,577,081
6,488,016
2077, showed:
1918,
1917.
ANNUAL REPORT.—For year 1920, in V. 112, p.
1920.
Calendar Years—
1919.
Totaloper.revenues__.$118,721,428 $93,577,081 $89,612,397 $78,320,313
83.357,624 73,231,738 53,248,038
3,966,440
3,267,634
4,243,312
Operating expenses.....113,319,939
Taxes, Ac
6,106,860
def$705,371
Operating income
Standard
$6,253,017 $13,113,026 $20,828,963
$1,889,271 $14,206,814 $14,206,814
*18,007,538
2,671,894
3,852,989
return
Other income..
1,470,914
Jan. 1—Dec. 31
1920.'
Gross
Other
Interest,
Balance,
Taxes.
Income.
Rents, Ac. Surplus.
Earnings.
$227,895
$150,824
$290,715
$88,004
$1,417,969
217,420
96,404
262,696
51,128
1.310,935
John Sculling.—(V. 112, p. 933, 1283,
Chairman, D. R. Francis; Pres
1399, 2083.)
EARNINGS.—
1917..
1916--
this
to
pledged to secure $6,000,000 5-year 5% gold notes of the Allegheny
Improvement Co.
V. 85, p. 99.
In Feb. 1917 suit was brought to fore
close of the notes.
in 1917 for dis¬
Missouri Pa¬
tribution under Plan and Agreement of Reorganiztion of the
cific Ry. Co.
Surplus.
Pres.
subject to the new First and Refunding Mortgage.
$51,350,000 were issued to the Reorganization Managers
time
$8,035,085
6,655,512
authorized, $53,000,000. to bear 4%
whole (but not in part) at par
A junior Hen upon all property at any
int. and mature 1975, but redeemable as a
....$19,191,438 $23,131,725 $31,172,829 $22,299,877
Interest, rents, Ac
31,383,397
14,906,695
15.078,031
13,334,774
Standard return—
2,004,840
14,206.814
14,206,814
Gross income
def._.def$14,196,799df$5,981,784 sr$l,887,914sr$8,965,103
F. Bush, President; J. G. Drew, F. J. Shepard, A.
Robertson, E. J. White, C. E. Perkins, V.-Pres.; O. B. Huntsman, V.-Pres.,
Asst. Sec. A Asst. Treas.; H. L. Utter, Sec.-Treas.
Bal., sur. or
OFFICERS.—B.
DIRECTORS (new company).—Arthur V.
Davis, Harry Bronner, Ber¬
Cutler, J. G. Drew, Carl A. de Gersdorff, Edgar L. Marston, Finley
Shepard, Cornelius Vanderbilt, William C. Potter. C. C. Huitt and Will¬
iam H. Williams, New York; William H. Lee, John G. Lonsdale and B. F.
Bush, St. Louis; Chas. E. Ingersoll, Matthew C. Brush, Phila., and R. Lan¬
caster Williams, Baltimore.
New York office, 120 Broadway.—(V. 112,
p. 162, 372, 744, 849, 933, 1024, 1866, 1978, 2077.)
tram
J.
BIRMINGHAM RR.—(See Map Southern Ry.)—Mobile to
with branches, 150 miles.
Leased to Southern Ry
latter agreeing to meet the Interest on
bonds and to guarantee a dividend on the $900,000 pref. stock of 1% for
ftrst year, 2% for second year, 3% for third year and 4% for fourth year
and thereafter.
Of the $900,000 oommon stock, $880,400 Is owned by
Southern Ry., and voting power on pref. assigned to Southern Ry. during
MOBILE
&
Marlon Junction, Ala.,
1 1899 for 99 years, the
from Maroh
(ease.
V. 68. p. 429. 1134: V. 69. p. 391: V.
&
MOBILE
490
Mlllstadt.
Ky.,
gomery,
m.;
7
Ala.,
71. p. 1013.—(V. 72. p. 137 )
OHIO RR.
Owns from Mobile, Ala., to East Cairo,
Cairo to
East St. Louis. 148 m.. with branch to
m.;
Montgomery
Division, Artesia, Miss., to Mont¬
180
Mobile A Bay Shore branch, 34 m.; other branches
(all stock and bonds
agreement Okolona
Miss.,
38 miles;
other,
4 miles; total
operated,
m.:
63 miles; total owned, 922 miles; Warrior Southern Ry.
owned), 14 m.; trackage, 19 miles; operated under
to
Calhoun
City.
31 1919, 997 miles.
Federal Contract signed in
Dec.
*
Feb. 1920, fixes annual compensation at $2,-
597.478.
STOCK.—Stock
authorized, $10,000,000; outstanding,
$6,010,800; par
$100.
The voting power on $4,984,200 of the stock is exercised by the Gen¬
eral Mortgage bondholders by virtue of deposit of old debentures of 1879
LATE 1JIVS.
] *12. '12-'13. *13-*14. *14-*15. 'lfi-'lO. *16-'17.18. '19 '20.
June 30 years
1 4
4
4
4
4
4444
The
Southern
Railway has acquired $8,356,000 of the $9,470,000
general 4s and $5,670,200 of
the $6,010,800 stock, issuing, $ for $, Its col¬
O. general 4s, secured
stock trust certificates for stock,
perpetuity.
V. 106. p. 2758.
BONDS.—Gencralmorfpapaof 1888 abstract, V. 47.p. 83.
V.60,p. 907.
The St. Louis Div. 5% gold bonds (limited to $3,009,000). dated Aug. 1
1913. are secured by a mortgage on the former St. Louis A Cairo RR.. sub¬
ject to St. Louis A Cairo 1st M. 4s, due Jan. 1931, the latter of which have
been assumed.
V.96.P. 554. 1022, 1365. 1773. 1840. and V. 70, p. 532.
lateral trust 4%
gold bonds In exchange for the M. &
pledge of the latter and had also issued
dividends being payable (A. A O.) at 4% in
r>y a
authorized the creation of a mortgage to secure
exceeding $50,000,000 bonds, whenever the board of directors may deem
V. 106. p. 929: V. 104, p. 452: V. 102. p. 251; V. 100, p. 253.
Equipment bonds series "J," V. 102, p. 1718.
There is no series T'I."
Stockholders in Feb. 1918
not
It advisable.
MAY, 1921.]
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations, &c.t
see
Miles
Date
Par
Amount
Rate
When
Boat
notes on page 6]
Bonds
Value
Outstanding
%
Payable
Mobile fife Ohio—Stock
First M Mobile to Columbus (principal gold)__F.xo*
First M ex ten Columbus to Cairo A branch g__F.zo
472
1899
1913
159
159
1,000,000
500
fibc
500
1,000
1.000
1916
Monongahela Ry—1st & Ref. M. $15,000,000 gUPi
Monongahela RR 1st M $1,500,000 joint guar
k
Monongahela Southern RR—See U S Steel Corp un
Monongahela River RR—Bonds—See B & O RR
1.000
1917
1,000
37
1902
der In dustria Is
Montana Wyom fit Sou—1st Mgred 110 text--Emxo*
Montgomery fife Erie Rjr—1st M (old 7s extended ln'86)
Montour RR—1st M g $2.750,000red 105sf text U P.xc*
Equipment bonds, see text.
Morehead & Nor Fork—let M g trust Clearf Tr Oo-x
Morgantown fife King wood—1st M closed issue...
33
Excluding $500,000 held for account of company
5k g
*
6
J
4 g
J
Sg
t 8
iH
D Deo
MAN May 1 1949
fife
D Dec
11927
A
M
A
M
fic
5 g
5 g
J A
4H
J
J
A
J
A
A
A
First Nat Bk, Mobile. Ala
Hanover Nat Bk, N Y
Farmers Loan A Tr. N Y
Sept'21-Moh '22 Bankers Tr Go, N Y
N Nov '21-Nov '23
do
do
Jan
1 1931
15 July'21-July '24
do
do
D Dec '21-June'26 Central Un T Oa, N
|
J Jan. 1 1967
5 g
MAS Sept 1 1939
Empire Tr Co, N Y
S«
MAN May 1 1920
F
A
A Feb 11963
Goshen, N Y
Union Tr Go.
F
A
Clearfield (Pa) Trust Oo
J
A
Feb 1 1958
Jan 1 1922
Davis Tr Co, Elklns, WY
1,000
130,000
1913
1.000
2.027,000
27.91
1908
1902
1905
1.000
373.000
40,500
771,000
15.000.000
Dec. 3
June 25 '20, 4% Mobile, Ala.
1 1927
Farmers L A Tr Co, N Y
July 1 1927
do
do
MAS Sept 1 1938
Hanover Nat Bank, N Y
F
A
Feb 1 1947
do
do
A
Q—Jan
835.000
1.000
1866
500
500 Ac
50
'
Where Interest and
Dividends are Payable
18
57
1st mortgage $1,500,000
x
Morris & Essex—Stock 7M % guaranteed D L & W__
l«t Ref M g $35,000,000 gu p A 1
119
F.xc»Ar
1900
Morris & Essex Extension Co.—Stock guar 4%
2
Morris town fife Erie—First M $300,000 g s I red par_
13
1903
Mt Carbon fife Port C RR—Stock (rental guar) text—
Mount Hood RR—1st M $500,000
'07"' 11
Mt Royal Tunnel fife Term—1st M rent charge
1914
Munlslng Marquette fit Southeastern—1st M g.xx
130
1903
Munlsing First Mtg gold
x
1900
130
Muscatine Burlington fife So—1st Mtge $750,000CC
1919
Ten-year Mtge debentures $100,000
1916
Muskegon Qrand Rapids fife Indiana—See Grand R apids fit Indi
Nashua fife Lowell—Stock 9% rental 99 years B & M__
14 H
Places
5,000,000
1,177.000
1,000
below.
1909
Dividend
and Maturity
5 g
4,000,000
45,000
157.000
359.000
475.000
1.000
Last
Yearly
r
6
n2 500.000
Ac
1913
1914
In 1920
9.471.000
4,000,000
200,000
1,000
500 Ac
1.000
1886
1912
Equip tr Ser "F" $22,000 and $23,000 s-a
Ba.x
do
Ser "G" $32,000 s.-a.—last 3, $31.000BaJt
do
Ser "H" $50,000 s-a. last 3 $53,000-Ba.y
do
Ser "J" due s-a $47,000 Dec, $48,000 J'ne Co
Mobile Terminal fife Ry—See Ala Tenn A Nor Ry._„
Mohawk fit Malone—See New York Gent Ac H R RR.
$3,016,800
7.000,000
1,000
1883
1888
1897
46
$100
500 Ac
1879
525
625
189
General mtge for $10,500,000 (now gold) s f-F.zc*
Montgom Dlv 1st M $4,000,000 g(V66,p 1045>Ce.z<5«
Mobile A B Sh 1st M $200,000 assumed gold_F.xc*
M Ac O St Louis Dlv M $3,000,000 g red 102 H Cexc«
St Louis A Cairo 1st M gol"* assumed
so
n
87
1,000 135.000.090
100
221,000
1,000
243,000
Is
O Oct
1 1942
J
7H
A
Jan
J
A
Jan 2
'21,4M%
A
M
te
Bk of Mon
1 1935
J
4
Treas. office,
A
May 1 '21,
M
A
1
2%
282,350
500,000
1.000
160.000
4 g
A
Oct
100 Ac
550,000
6
6
A
A
July 1 1924
July 1 1926
J
6
A
A
A
5
A
5
1
1925
ana.
100
800,000 See
textM
A
do
Western, NY
„
N Y
do
Brooklyn Trust Co, N Y
Janl5'21, 2tf% Reading Terminal, Phlla
Jan 1 1927
Ogden (Utah) Sav Bank
Apr 15 1970
June 1 1933
Git Sav A Tr Oo, Oleve
t2,153,013
1,000,000
l'l919
Val, Morg.WV
Del Lack A
Del Lack A West,
2000
50
52.100
Pittsburgh
Sept 1 1923
Deo
Ac
1,000
£100",
~pfttsb"Pa
N
do
do
Oont A O Tr A S Bk. Oh
Ger Tr Oo, Davenport,Ia
May 1*21,4)4% Check
from
Co'«
office
t Additional amount pledged.
Guaranteed bonds: Warrior Southern Ry. 1st 4s of 1903
(all owned),
$603,000; Meridan Terminal 1st 4s (jointly), $250,000; Gulf Terminal
1st 4s (jointly), $600,000.
Equipment trusts issued to Director-General for rolling stock allocated
to this
See article on page 3.
notes, V. Ill, p. 2229
-Jan. 1 Mar. 31-
company.
Short-term
EARNINGS.—
1921.
Gross
1 -Dec. 311919.
1920.
over taxes...___.__def.995,911
Net, incl. other income.
2,685,301
Interest, rentals, Ac
1,672,294
Dividends
$4,646,048 $18,796,152 $15,636,714
240,672
182,246
2,660,674
1,672,216
2,562,513
3,646,278
2,252,587
240,672
240,672
700
paid (4%)...
Additions & betterments
12,957
2,813,273
3,421,075
2,305,540
240,672
5,766
$1,140,062
$869,097
Balance, surplus
$772,335
$747,086
President, Fairfax Harrison.—(V. 112, p. 744.)
MONONGAHELA RAILWAY.—Brownsville Junct., Pa. (connection
with Penn. RR. and Pitts. A Lake Erie RR.) to Fairmont, W. Va., 69 miles,
branches aggregating 39 miles.
In Nov. 1915 operations extended
from Penn.-W. Va. State line to Fairmont, W. Va., 33 m.
A consolidation
with
July 1 1915.
See Pitts. A L. E. report, V. 102, p. 1535; V. 106, p. 2003.
Stock authorized, $10,000,000; par, $50.
Outstanding,
$5,000,000,
of which Pittsburgh A Lake Erie (N. Y. Central
System) owned $2,500,000
and the Penn. System, It is
supposed, the remainder, the Penn. RR. Co.
itself owning $1,676,500 on Dec. 31 1920.
First A Ref. Mtge. bonds of
1917 auth., $15,000,000; issued in 1917 to company in N. Y. Central and
Pennsylvania systems in settlement of outstanding notes, Ac., $4,584,000.
V. 106. p. 2011.
Pitts. A L. E. and Pittsb. Va. A Charleston (Penn.
RR.) guarantee the 3>4s.
Jan.
EARNINGS.—
1 -Mar. 31
1921.
Jan.
1920.
some litigation, it was agreed that in future the dividends under
the lease should be fixed at 7H%, payable
unconditionally, the additional
rental ($4%)
for year 1916 to be paid on July 1 1917, and for subsequent
on each succeeding Jan.
1, respectively.
See V. 104, p. 2118.—
(V. 106, p. 601; V. 108, p. 2528.)
MONONGAHELA SOUTHERN RR.—Line extends from Monongahela
$50,
par,
MORRISTOWN fife ERIE RR.—Owns Morristown. N. J., to Essex
Fells, N. J., 10.64 miles; 2 branches. 2.32 m.. total 12.96 m.
Stock.
$400,000; par, $100*
Bonds, see table.
In 1919, gross, $152,061; net,
$37,169; interest, rentals, Ac., $39,283; bal., def., $2,114.
Pres., R. W.
McEwan, Whippany, N. J.—4V. 96, p. 1629.)
MOUNT CARBON & PORT CARBON RR.—Owns Mt. Carbon to Port
Carbon, Pa., 2.60 m.; total track, 13.45 m.
Leased to Phlla. A Reading
999 years from Mar. 1910 at 5% on stock, taxes, Ac. (V. 89, p. 42.)
MOUNT HOOD RR.—Hood River to Dee, Ore., 16.4 miles.
Stock.
$250,000: par. $100.
Bonds, see table.
Pres.. W. H Eccles, Dee, Ore.;
Sec. A Treas., H. H. Rolapp, Ogden, Utah.
pany
Jet. to Mifflin Jet., Pa., and from Clairton Jet. to Wilson,
Pa., 11.55 miles
(leased to Union R.R. of Pennsylvania).
all
owned
by
BONDS.—First 5s, auth., $3,000,000; outstanding, $3,000,000.
Dated
Oct. 2 1905, due Oct. 2 1955.
Gen. 6s, auth., $7,000,000; outstanding,
$2,500,000.
Dated April 1 1920, due Oct. 1 1955.
MONTANA WYOMINQ & SOUTHERN RR.—Owns from Bridger, Mont,
on Northern Pacific, to
Belfry, and westerly to Bear Creek, about 33 miles
serving a coal district. Stock outstanding, $1,000,000. Additional bonds at
V. 89, p. 470.
Leased Dec. 10 1868 in perpetuity to Del. Lack. A West., which guaran¬
per ann. on stock and, contingently, 1% extra.
In May 1917,
teed 7%
following
MOUNT ROYAL TUNNEL & TERMINAL CO.—A constituent com¬
of the Canadian Northern Ry. system, owning tunnel opened for traffic
1919.
$876,400
$4,674,851
$3,652,666
66,076
825,346
1,202,528
RESULTS.—For cal. year 1919, gross earnings on 108 miles of road,
$3,652,667; net, after taxes, $1,202,557; other income, $12,973; int. on
bonds, rentals, etc.. $174,426; bal. sur., $1,041.104.—V. 105, p. 181.
OFFICERS.—Henry C. Nutt, Pres.; T. H. B. McKnight, Treas.; S. H.
Church, Sec., Pittsburgh.—(V. 112, p. 1741.)
$25,000 per mile.
above.
MORRIS & ESSEX RR.—Owns from Hoboken, N. J., with important
terminal facilities on N. Y. Harbor, to Phillipsburg, N. J., 85 miles; branch,
Denville to Hoboken, N. J., 34 miles; leases, 38 miles; total oper., 157 miles.
l-Dec. 31
1920.
$1,027,703
211,822
STOCK.—Auth. and outstanding, $3,000,000;
Union RR. of Pennsylvania.
table
years
"MONON."—8ee Chicago Indianapolis A Louisville Ry.
Gross
Net after taxes
see
Equipment trusts issued to Director-General for rolling stock allocated
this company.
See article on page 3.
Federal compensation fixed at $51,362.
V. 109, p. 1891.
For year
ending Dec. 31 1919, gross, $457,921; net, def., $19,378; Fed. comp., $61.362; other income, $12,581; int. A rentals, $93,716; bal., def., $70,655.
Pres., David Elklns, Morgantown, W. Va.; Sec., Richard Elkins, N. Y.
Office, Morgantown, W. Va.—(V. 110„ p. 765, 970.)
to
60,547
defl0,864def1,779,134
def995,910
REPORT—For calendar year 1919 in V. Ill, p. 1179:
Calendar Years—
1919.
1918.
"
1916.
1917.
Total oper. revenue
$15,636,715 $14,840,901 $13,604,506 $12,229,643
Federal compensation..
2,597,478
2,603,526
Net
Morgantown to M.AK.
Rock Forvc to Richard, 0 77 m.; total. 48.71 m.
Incorp. Jan. 14 1899 in W. Va.
The road was sold early In 1920 to the
Baltimore A Ohio RR.
V. 110, p. 970.
Stock auth., $2,000,000; par, $100.
Bonds,
-Jan.
1920.
$4,802,367
Net after taxes
MORGANTOWN & KINGWOOD RR.—Owns
Jot., W. Va., 47.94 miles;
In Mar. 1919 entered Into co-operative
agreement with U. S. RR. Admin, (no compensation).
V. 108, p. 973
Year 1919, gross, $277,928; net, $24,980; other income, $24,470; int., taxes,
Ac., $60,230; bal., def., $10,779.
Pres., Frank S. Bannon.—(V. 103, p.
1210; V. 105, p. 1$09; V. 108. p. 973.)
Oct. 21 1918 through Mount Royal affording access to terminals at Mon¬
treal.
V. 105. p. 1209.
Cost to April 30 1917, V. 105. p. 1209.
Present bond Issue was limited (V. 103, p. 1889) to $20,000,000 till
the $1,750,000 certain Can. Nor. Ry. notes (paid Dec. 1 1917) were re¬
deemed (V. 105. p. 2271; V. 103, p. 1209).
The bonds are callable at
105 and Interest (sinking fund )4% beginning In 1920).
Trustee. British
Empire Trust Co., Ltd.
In April 1921 $2,153,013 were outstanding, ex¬
clusive of amount pledged.
In Dec. 1917 made a mortgage to secure
demand loans from Canadian Government.
V. 105, p. 2366.
By Act of Canadian Parliament in May 1916, rentals paid the company
by the Canadian Northern Ry., the Canadian Northern Ontario Ry. and
the Canadian Northern
Quebec Ry. are included In their operating expenses
and thus rank ahead of their other fixed charges.
V. 103, p. 1210; V. 102,
•*- 1987.
Capital stock, $5,000,000, owned by Can. Nor. Ry.
Sec.. R. P.
Ormsby, Toronto.—(V. 104, p. 164, 1801; V. 105, p. 1209.)
MUNISING MARQUETTE fife SOUTHEASTERN RY.—Owns Munls¬
lng to Big Bay, Lawson to Princeton 96.21 miles; branches 33.79 miles,
controlled by Cleveland Cliffs Iron Co.
Stock $1,870,000: par $100.
For year ending Dec. 31 1920, gross, $1,129,427; net, ,$220,131;
other
income, $54,705; interest, rentals, Ac., $127,218; bal., sur., $147,618.
Gen. Mgr., H. R. Harris.
tour
MUSCATINE BURLINGTON fife SOUTHERN RR.—Muscatine. Iowa,
to Builington. 55 miles.
This Includes 4.6 miles trackage, the company
owning a parallel right of way on 4 miles.
V. 80 p. 1059.
Successor In
Aug. 1916 of Muscatine North A South Ry.
V. 103, p. 579
V. 99. p. 909,
1749.
Stock, $450,000; par, $i00.
The 1st M. 5s of 1910 $750,000.
callable at par and guaranteed by the Securities Co., matured July 1 1919
and were extended for 5 years at 6% Int.
In Nov. 1916 Muse. Burl. A So.
Securities Co. was incorp. In Maine with $800,000 auth. cap. stock.
V. 103.
Road not taken
&1981. For cal. year 1920, gross, $190,600; net For cal. year 1919, gross,
after taxes, def.. $142,510;
t., rents, Ac., $76,901; bal., def., $219,411.
MONTGOMERY
& E. RY.—(See Map Erie BR.)—Owns Montgomery
Y., 10 miles.
Leased In 1872 to Erie RR.
Rental now
$10,000 per an. Stock, $150,000. Divs. (4H% per an.) paid May 10 and
Nov. 10. S.fd.. $6,500 per an. There are $40,500 2d M. 5s due Oct. 11927
to
Goshen,
N.
MONTOUR RR.—Owns Montour Jet. to the Mifflin Yards of Bessemer
branches, 51 miles.
In Oct. 1910 the Northern Mon¬
RR. Co., with $350,000 of auth. capital stock, was Incorporated.
Stock $5,100,000, owned by Pittsburgh Coal Co.
V. 96, p. 286, 861.
A Lake Erie RR. and
over bv Director-General.
V. 106. o. 2011.
Bonds, originally $2,750,000 1st 50-yr. 5s; retired by sinking fund, $723,000; redeem, at 105 as a whole on and after Feb. 1 1924, or at 102)4 for a
sinking fund of $55,000 yearly.
Equip, trust gold 5s of 1913, $961,000
issued, due yearly to April 1 1938, and $917,631 April 1 1923.
Issue of
1916 guar, by Pittsburgh Coal Co., due $20,000 yearly Jan. 1 1921 to 1926,
$200,000.
For year ended Dec. 31 1919, gross earnings were $1,199,496;
def., after oper. exp., $275,159; other income, $439,181; fixed charges,
$145,145; divs., $261,000; surplus. $18,877.
Jan.
EARNINGS.—
$319,891
def86,606
Net after taxes.
—(V. 110,
p.
Jan. l-Dec. 31
1920.
1919.
1 -Mar. 31
1921.
Gross
1920.
$202,433
defl02,188
$1,677,351
def63,778
$1,199,496
def271,126
2388.)
MOREHEAD fife NORTH
FORK RR.—See page 140.
MORGAN'S LOUISIANA A TEXAS RR. & STEAMSHIP CO.—See Map
Southern Pacific.)—ROAD.—Owns Algiers to Cheneyville, 205 miles;
branches. 119 m.; extensions to Port Allen, La.. Ac., 53 m.; trackage to
Alexandria, Ac., 25 m.; total, 401 m.; ferries. 3 miles.
Owns $300,000 stock
of Iberia A Vermillion RR., 21 miles.
Sou. Pac. Co. owns the $15,000,000 stock.
Divs. 1906-07,10%; 1907-08,
25%; 1908-09, 4%; 1909-10, 5%; 1910-11, 6%; 1911-12, 4%; 1915-16, 2%;
of
1917 to 1920, none.
Jan. 1—Mar. 31
EARNINGS.—
Gross
Net after taxes
1921.
$2,303,103
def79,414
1920.
Jan. 1—Dec. 31
1920.
$2,520,595 $10,429,501599,051
541,583
In 1919 "standard return," $1,188,526; "other income,"
charges, Ac., $562,783;bal.,sur.. $822,734.—(V. 106.
p.
1919.
$8,065,807
1,274,207
$196,992;
Interest
1461; Y. lll,p.74.)
$204,851; net, after taxes, $50,694; Int., rents, Ac., $41,850; net income,
$8,844.
Pres., E. H. Ryan, Davenport, Iowa.—(V. 103, p. 579, 939,
1981; V. 108, p. 2433.)
MUTUAL TERMINAL CO. OF BUFFALO.—Owns 5.22 acres of land
1,486 feet of fiontage on the city ship canal, wharves, freight house
a steel and brick grain elevator,
capacity 3,000,000 bushels.
Stock.
$60,000, all owned by the N. Y. C. A H. R. RR.. D. L. A W., Lehigh Valley
and Erie, which each, under agreement of Jan. 2 1905 as amended, guaran¬
tee to pay one-fourth the Int. and sinking fund charges on the bonds (the
latter $200,000 yearly).
Of the bonds ($5,000,000 total auth.), $444,000
are reserved for future uses; $4,507,000 to Jan. 1920 retired; the balance of
$49,000 were called for payment on July 1 1920.
Pres., C. S. Goldsborough, 50 Church St., N. Y.; V.-Pres., J. A. Middleton: Treas.. F. H. Silvernall. 143 Liberty St.. N. Y.—(V. 106. p. 1348.)
with
and
NARRAGANSETT
PIER RR.—This road was formerly leased to the
Rhode Island Co., but early in 1920 the lease was terminated by default
on March 1 1920 the company received Its property directly from the
U. 8. Railroad Administration.
Stock, $133,800.
First mtge. 5s, $70,000,
and
due Aug. 1 1936; int. F. A A. at Rhode Island Hospital Trust Co., Provi¬
dence, trustee.
Road extends from Narragansett Pier to Kingston, 8.41
miles.—(V. Ill, p. 1852; V. 112, p. 2191.)
NASHUA A LOWELL RR.—Owns double-track road from Lowell, Mass.,
Nashua, N. H., 14.26 miles. On Oct. 1 1880 leased for 99 years to Boston
Lowell.
In 1887 lease was transferred to Boston A Maine, which pays
a rental of $73,000
(9% on stock) and $1,000 for annual^ expensesi. and In
Vprll 1911 received authority to purchase stock; in Nov. 1906 to 1912 incl.
U % extra was paid from accumulated cash surplus.
Treas., Geo. O. Colt,
6 Beacon St., Boston.—(V. 83, p. 970; V. 85, p. 1005.)
to
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Miles
&c., see notes on paoe 6)
Nashville Chatt & St Louis—Stock
First mortgage on Jasper Branch
Date
Par
Amount
Rate
When
Last
Dividend
Road
RAILROAD COMPANIES
[For abbreviations,
Bonds
Value
Outstanding
%
Payable
and
Maturity
$16,000,000auth
Cez.c*
Centrevllle Branch g.__Ce.zc*Ar
($20,000,000) $20,000 p m gold_.ll8.so*
Nashville A Decatur—Stock guar 7 )4% by L A N_._
Nashville Florence & Sheffield—See Louisville A Nash
Nashville Terminal—First M gold red 105 —Mest.x
First Ref M $3,000,000 auth(V 98. p 1668)ca!l 105.N
National Rys of Mexico—Com stock $75,000,000 U S g
First pre! stock $30,000,000 4% n-c (p A d)
2d pref stock $125,000,000 5% n-o (p A d)
Prior lien M USg red 105begT7 (see text) Ce.xc* Ar*
Gen mtge U S gold redeem par (text) guar_._N.xc*
Nat RR of Mex Prior Lien mtge gcall 105—Un.xc*
First Cons M $60,000,000 gold (see text)__Ce.xo*
Ilex loan Central—Priority bonds gold red 110 -_-s
First Oons lno A scrip n-oum ($9,600 p m)g AB.zo*
2d cons ino($6,400 p m)red 50% to July'29 AB.zo*
Car and locomotive rental notes
—x
Equipment 5s $50,000 redeemable yrly at par__x
do
($50,000 yrly par( red 102 )4 beg 710_OB.xc*
Ilex Int prior lien £1,200,000 red at par.Un.xc*&r
First cons M $16,000,000 g not guar._Mp.xo*Ar
do
g guar stamp sub] to call at 95 to Mch 1907 .
Vera Crus & Pacific 1st M g red (text)
xc*
Pan Amer (Mex-Guat) 1st M(text)redl05gti pAi xc*
General mortgage guar prin & lnt
x
Nat Rys 2-year secured gold notes red par
Cex
3-year secured notes $2,460,341 red par
—G
Secured gold notes extended In 1914 and 1915...—
Secured gold notes Series B $1,509,752 red par—G
Secured fold notes Series O $813,090 red par
G
Notes (for purchase of notes of Pan-American Oo) —
Nevada-California-Oregon—
1stM $2,200.000$10.000pmgcall 105sf__Un.-C»
Nevada Central—1st M gold non-cum lno (sk fd) _ Cez
Nevada Co N G RR—1st Mkiue part yearly a. fdcall
Mortgage sk fd call 105 $500.000
—US
New England—Also New Haven & Northampton—Se
a Out of the $7,206,500 Mexican International
Rys of Mexico of .Tune 22 1908. $4.499.000 income bo
.......
„
1883
1888
46
846
Cons mtge
119
m m
.
1909
---
1907
1907
1902
1902
1.284
1,534
1889
1889
3,407
3,407
1889
1897
1899
1897
1897
1897
8l5
866
866
263
$500
Ac
500
Ac
$1,000
1.000
1,000
$ £ Ac
1903
285
AO
1907
1913
1913
mmm
2.
1914
1914
'
mmm
------
94
1888
mm mm.
20)4
1914
Gross earnings,...
Net after taxes
e
New
York
New Hav
Total income
RY.—Owns from Ghat-
Mar. 31-
1920.
$5,787,038
218,100
1920:
xl918.
xl918.
*$2,680,868
$847,266
$3,362,520
$737,508
$3,337,621
$684,228
970,088
715,636
666,009
118,869
149,206
1,120,000
1,120,000
Rentals, &c
Dividends
(estimated)
(7%)
1,120,000
$4,183,199
$603,315
740,568
294; V. 112. p. 162, 744, 933, 1617.)
NASHVILLE & DECATUR RR.—{See Map Louisville A Nashville.)—
Nashville, Tenn., to Decatur, Ala., 119 miles.
Re-leased to
Lou. A Nash. In 1900 for 999 years, the rental being 7)4% on stock.
The
Lou. A Nash, owns $1,758,850 of the stock.—(V. 70, p. 1195.)
Owns from
NASHVILLE TERMINAL CO.—Owns bridge across the Cumberland
Leased for 99 years to Tenn. Cent. RR.
River and 20.17 miles of track.
For several years past
the 1st M. coupons have been paid at Mercb. Tr.
Co. of St. Louis after some months delay.
July 1 1920 coupons paid when
due.
In April 1921 the Jan. 1 1921 coupon was the only one in default.
Compare Tennessee Central RR. In V. 104, p. 2642, 1900; V. 105, p. 73,
181; v. 105, p. 607.
NATIONAL RAILWAY SERVICE CORP.—(V. 112, p.
NATIONAL RAILWAYS OF MEXICO.—On June 30
1914 this
sys
During the revolution of the succeeding 3 years
bridges, engines, cars, &c., were destroyed.
and telephone lines of the Republic
were seized by the Mexican authorities.
In April 1921 the Mexican Government was operating the bulk of the
lines owned and leased by the National Railways of Mexico. Interoceanic
Railway of Mexico and Mexican Southern Ry. under title of National Rail¬
ways of Mexico.
The use of the name "Constitutionalist Railways of
Mexico," by which these Government-operated lines were previously desig¬
nated, was dropped Jan. 1 1919.
V. 108, p. 1816; V. 107, p. 2476.
The Vera Cruz & Isthmus RR.. 340)4 miles, and Pan American Railway,
285 miles, were in June 1917 segregated to facilitate the operation of the
Mexican Railway, but are now being operated again as part of the system.
The Mexican Government in Jan. 1921 was reported to be making pre¬
(1,342 miles, 3-ft. gauge).
miles of track and many
On Dec. 4 1914 the railway, telegraph
liminary arrangements for a report on the physical condition of the proper¬
and a possible settlement of some kind with the creditors with a view to
returning the property to private management.
See V. 112, p. 562.
The Texas Mexican Ry., 162 miles, controlled by stock ownership, was
released by U. S. RR. Administration in Sept. 1918.
ORGANIZATION.—Organized March 28 1908 under special Act of Con¬
gress of Mexico, per plan In V. 86, p. 918, 982. The properties of Nat. RR.
of Mexico, Mex. Central and Mex. International were acquired by deeds.
V. 88, p. 452, 1318; V. 89, p. 1601; V. 90, p. 1554.
Vara Cruz A Isthmus
RR. (340 miles) was merged Nov. 1 1913 and Its bonds assumed and the
Pan-American RR. in March 1914.
V. 97, p. 1740, 1823; V. 98, p. 1000.
The Mexican Government owns $115,056,367 of the $230,000,000 auth¬
orized stock, viz.: $10,000,000 first preferred, $30,278,300 second preferred
ties
and $74,778,067 common stock, and guarantees the principal ana interest
of the general mtge. bonds.
V. 87, p. 1533.
All interest and other obligations maturing Oct. 11914 and subsequently,
Lond, Ae
See text
O Oct
A
J Oct
A
O Oct
J
A
J July 1 1939
Jan
10 1939
July 10
Jan
See text
See text
See text
None
101939
A
5 g
5 g
&
O Apr
O Oct
j>ald
1 1917
A
&
1 1919
A
S Sept 1 1947
4)4 g M
MAS Sept 1 1977
4 g
MAS Sept 1 1977
J
A
J July 1 1934
J
A
J Jan 1 1934
Ui
tg
Sg
J
11937
J Jan
A
J
A
D Junel 1915
J
A
J Jan 11917
June 11915
J Jan
1 1917
ll
7
MAN May 11967
J
A
J July 2 1938
J
A
J 1921 to 1924
5
A
S&6 t*0Xts
Mar 1915 coup
do
Jan
not paid
do,
do
do
1915 coup not
paid
See text
See text
Dec 1914
coup not
paid
Dec 1914 coup not
paid
1 1917
J Jan
A
Int.
A
Dec 1914 coup not
paid
July 1 1916
O April
A
1943
New York
4%
paid Dec. 1917
Wells. Fargo Bk. San Fr
Union
Tr Oo.
Fran
San
or d
Hartf
($27,476,000). Ac., and
was
were
defaulted, and the plan to fund the July 1 to Sept. 30 1914 ma¬
turities has not been declared operative.
V. 100, p. 2010.
DlVS.—lac pref
1908. 1%. 1909. 2%: 1910 to 1912. 4%;
1913. 2%
COMMITTEE.—(Representing
Rys. and Nat. RR. of
Mexico, and Mex. Int. RR. and the secured notes of Nat. Rys.).
Chair¬
man Laurence Currie.
Depositary, Glyn, Mills, Currie A Co., London.
V. 105, p. 716; V. 106. p. 396.
.
PROTECTIVE
BONDHOLDERS'
both the Prior Lien 4)4s and the 4% bonds of Nat.
BONDS.—The prior lien 4)4%
bonds ($225,000,000 auth.) were de¬
scribed In V. 86, p. 1319, 919, and the guaranteed general mortgage 4%
bonds ($160,000,000 auth.) in V. 86. p. 1320, 919.
Additional bonds may be issued to retire Mex. Internat. RR. consols.
The General mtge. bonds will be subject to
call at par after April 1 1927.
REPORT.—Report for year ending June 30 1919,1 V. 110, p. 1409.
The system being still In the hands of the Mexican Govt., the company
has no earnings to report.
Total annual charges amounted to 22,372,606
Mexican pesos and total credits 1,020.291 pesos, leaving a deficit or 21,352,
315 pesos
and Increasing the total profit ana loss deficit to 139,008,478 pesos.
Chairman of Board, Joaquin Pediero Cordova; Vice-Chairman, Lorenzo
Pres., Leon Sa'Inas; Sec., Ing. R. D. Carrion, all of City of
Mexico; Asst. Sec. & Asst. Treas., E. E. Bashford, N. Y. City.
Francisco
Perez is Director-General.
N. Y. office, 25 Broad St.—(V. 112, p. 62, 562,
1283,1741,2191.)
Perez Castro;
NATIONAL TRANSCONTINENTAL RY.—See Grand Trunk
Pacific.
NEVADA-CALIFORNIA-OREGON RY.—(3-/L gauge.)—In June 1917
Pacific RR. purchased 63 miles of the main line and the 41mile branch line in
California, together with terminals In Reno. Nev.,
leaving 171 miles Hackstaff, Cal., to Lake View, Ore.
V. 107, p. 1379.
In
Aug. 1920 asked permission to extend its line to a point 18 miles north of
the Western
Lakeview
1
<
of 1917, $750,000 were used to redeem a
gold bonds of 1899, and $250,000 were issuable on account
of additions and improvements.
Sinking fund to purchase bonds (or call
at 105 and Int.), 1922 to 1931, yearly V of 1% bonds then out, and there¬
after )4 of 1%.
V. 104, p. 1592.
Stock, common, $1,450,000; pref., $750,000.
After 5% on common, both
stocks share pro rata.
Divs. on pref., 1906, 3%; 1907, 4%; 1908 to 1910.
5% each; 1911, 3%; Sept. 1912, 2%; on common. 1%, 1909: 1%. 1910,
oone since
V
102
n
1540
1626
Of the $2,200,000 gold bonds
like amount of 5%
REPORT.—For calendar year 1920:
Gross.
Total Net.
Bond Int.
Miscell.
$418,304
$18,589
$58,239
$1,812
348,965
def. 19,531
56,739
16,393
5,617
52.028
1,854
293.510
R. Rosa, 68 William St., N. Y.Pres., Charles Moran; Treas
589. 990.)
Year ended—
1920
1919--.
1918
Deficit.
$41,462
92,664
48.264
(V. 111.
NEVADA CENTRAL RR. -Battle Mt. to Austin, Nev., 94 miles.
Stock, $750,000, In $100 shares, largely owned by the Nevada
3-ft. gauge.
Interest payments on the $750,000 income bonds in recent
Company.
years": July 1906,4%; Jan. 1908.2)4%; Feb. 1909.1*4%; July 1911,1*4%;
years: July ivuui^7a,,*au. iwo,47j7(,i'ou. iowi j
Aug. 1914, 3)4%: March 1916.1%; Dec. 1917, 4%; none since. Pres., J. O.
Phelps Stokes. 100 William St., N. Y. City.—(V. 106, p. 86, 189.)
__
NEVADA COUNTY NARROW GAUGE RR.—Colfax to Nevada City,
Cal., 20)4 miles.
In May 1913 control was acquired by Oakland Antloch
(Elec.) Ry. Interests.
V. 96. p. 1630.
Stock, $250,200; par of
shares, $100 each.
Divs. paid: In 1882, Sf 1883. 6%; 1903 to 190& 5%;
A Eastern
)4%: 1912, June. 6)4%;. 191$.
~
1906, 10%; 1909 and 1910. 2)4%: 1911.
5%; 1914, 16%; March 1915 to June 1917, 2% quar.; July 1917, 1)4%;
1917, 1)4%; Nov. 1918, 2%.
Bonds, see table and V. 98, p. 1157;
V. 110, p. 360.
Year ending Dec. 31 1919, gross, $120,423; net (for tax), $26,164; other
income, $879; charges, $8,913; bal., sur., $10,177.—(V. 98, p. 1695; V. 107,
Oct.
2476.)
p.
1144, 2084.)
tern, including the
Interoceanic and Mexican Southern Rys.
(1,047
miles controlled but operated separately], aggregated 8,027 miles or road
including the principal of notes due June 1 1915
Mexico.
See text
A
J
J
there
p.
Pres., Whitefoord R. Cole; V.-P., H. F. Smith; Treas., J. H. Ambrose;
Sec., T. A. Clarkson; Gen. Mgr., W. P. Bruce, Nashville, Tenn.—(V. 119,
some
of
Office. 25 Broad St. N Y
11926
1 1951
A
A
§'
Text
J July 1 1957
1 1977
J
j"~~A
en
1,120"666
$452,014
$718,178
$1,719,317
Balance, surplus
def$256,487
*
Includes Fed. comp. for 2 mos., $490,236; 6 mos. guarantee, $1,581,788;
and "other income."
x Results under Federal control; comparisons faulty.
p.
See
1932
1 1949
City
JS
do
do
:
pledged $ 3.000.00 0 under prior 11 en mtge. of the National
con sol. M. 4
RR. 1 st
nd« an d$l5.7 85.200 ca pltal stock p lodged un der conso l.m of National Rys of Mex.of Mch 15'20
1917.
$24,491,175 $20,044,134 $21,757,402 $15,194,755
685,651
3,752,570
2,979,697
3,182,089
3,182,089
302,481
180,431
155,532
Income taxes
J July 1
A
975.000
750,000
89,000
50.000
■
defl.175,169
Federal compensation..
Other income, &c_
Interest..
A
MAN May
6
1,000
20)4
$5,191,692
def419,187
31
xl919.
1920.
J
6
1.000
■
Jan. 1—
fiscal years ending Dec.
A
do
do
O Apr 1 1928
J Jan 1921 3**% Louisville, Ky
6
1.000
1.000
1917
1921.
Calendar Years—
do
A
1.509,752
813,055
1,403,000
Ac
1914
DIV8.—/'07. '08. '09. '10-T1. '12. '13-14. *15.' 16. '17toFeb'21.
Per cent
\
6
5)4
5
6 yrly. 6)4 7 yrly.
5
6)4 7yrly(FAA)
Federal Compensation3.163.575 yearly during Federal control.
BONDS.—Consoi. mtge. of 1888 provides that ail prior bonds shall be
paid off at maturity: sufficient of the $20,000 p.m. are reserved for them
V. 105. p. 607.
V. 101, p. 131, 694. 1465; V. 103. p. 1301. 1593.
Jointly, with Lou. & Nash., guarantees $2,601,000 L. A N
Ter. 4s;
with the L. A N., Southern Ry., St. Louis I. M. A So. and St. Louis South
western $2 500.000 Memphis Union Station 5s, and with the Chic
Burl. A
Qulncy RR. $5,000,000 Faducah A Illinois RR. 1st M. sinking fund 4)4s.
Equipment trusts issued to Director General for rolling stock allocated
to this company.
See article on page 3.
REPORT.—For
do
1 1923
J
4)4 g
2.460,325
1913
...»
LATE
—
1 1923
746.000
Hickman, Ky., 323 m.; branches to Lebanon, Sec., 533
leases Western Sc Atlantic. Chattanooga, Tenn., to Atlanta. Ga.. 137
m. (V. 104, p. 452; V. 110, p. 78); and Paducah & Memphis Division of the
L. A N., 254 miles.
See V. 71, p. 544, 664, 864.
Total operated Jan. 1
1921, 1.247 miles.
ORGANIZATION.—A majority ($11,484,100; of the stock is owned by
the Lou. & Nash., of which $8,802,400
pledged under its mtges.
West.
Se Atl. was leased from State of Georgia till Dec. 27 1919 at $420,012 yrly.
Under the lease as extended to Dec. 27 1969, the rental for the 50 years
will be $540,000 yearly with taxes of about $113,000 p. a., while $60,000
yearly from Dec. 27 1919 will be applied to lmprov'ts.
V. 104, p. 664, 863.
The Paducah A Memphis Div. of the Louisville A Nashv. RR. Co. Is
leased for 99 years from Dec. 14 1895; the annual rental is 5% on the cost
of road and 5% on amounts paid by L. A N. RR. for additions, etc.
Owns jointly with the Chic. Burl. A Qulncy the Paducah A Illinois RR.,
which
has built a double track bridge over the Ohio River at Metropolis,
111., and has constructed a line from Metropolis to Paducah. Ky.. 14 miles,
and will Jointly guarantee Its bonds.
See that company and V. 106, p. 1788.
—
1 1921
J Jan
J Jan
A
41S
26.730.000
45 .Ac
tanooga, Tenn., to
Net after taxes
A Feb
A
Feb 10 '13.2%
150,000
300,000
5.850,000
705,500
a4.206,500
7.000,000
2,003,000
1,484.000
1,000
£100
1904
285
Y.ooo
m.;
EARNINGS.-
A
A
662.456
.,
NASHVILLE CHATTANOOGA & ST. LOUIS
3)4 New York and Nashville
F
5g
5g
1,000.000
1.000.000
74.803.466
28,831.000
120.434.491
~$,~£~"&0 84,804,115
50.748.575
$, £ Ao
23.000,000
$500 Ac
500 Sec
24.740.000
1,374.000
1.000
96.600
1,000
21.000
1.000
1,000
1.000
1902
Where Interest and
Dividends are Payable
J
vilie
•f
Places
J
$100 $16,000,000 7 In 1920
371,000
?g
6 g
376.000
1,000
5 g
14,857.000
1,000
7)4
25
3,553,750
1.000
1883
23
First mortgage on
Gross....
[VOL. 112.
BONDS
RAILWAY STOCKS AND
90
NEW JERSEY INDIANA &
ILLINOIS RR.—South Bend to Pine. Ind.,
12 miles.
$100,000; par $100. Stock (all owned by Wabash Rv.)
Bonds,
$250,000. Mechanics' Trust Co., Bayonne, N. J., trustee. Year end. Dec.
31 1920; Gross, $226,578; net, $76,788; other Income, $5,893; charges, $4lr
422; surplus,
C.
H.
$41,259.
Pres., W. A. Ballard; V.-P., T. A. Hynee; Sec.,
Weppler, Treas.; H. J. Jackson.
Office, South Bend, Ind.
JERSEY JUNCTION RR.—Terminal road through Jersey City,
and Weehawken, about 5.62 miles.
Leased for 100 years in
1886 to N. Y. Central A H. R. RR. Co. (assumed by N. Y. Central),
which guarantees bonds and owns the $100,000 stock.
NEW
Hoboken
NEW JERSEY
&
NEW
YORK RR.—Owns from Erie Jot., N. J., to
Garnerville, N. Y., 29 miles; branches to New City, &o., 5 m.; operates to
Haverstraw. Ac., 14 m.; total operated, 48 miles.
Erie RR. in April 1896
purchased oontrol. Stock, $1,440,800 oom.. $787,800 pref.; par, $100. Con¬
trol Is with pref. stock and 1st mtge. till 6% has been paid on pref. for three
5%.
V. 90, p. 914.
Year ending Dec. 31 1916, gross, $882,063;
net. after taxes, Ac., $200,235: other income, $28,760; charges, $287,646;
bal., def., $52,304.—(V. 90, p. 914.)
years at
.
RR.—Owns from New London. Conn.,
Londonderry, Vt.. 158 miles.
LEASED for 99 years from Dec. 1 1891 to Central Vermont.
The rental
Is $213,552 per annum, which leaves a small surplus after providing for In¬
terest. Ac.. and 9)4% divs.
An extra div. of )4% was paid July 2 1917.
Jan. 2 1918, July 2 1920 and Jan. 3 1921.
Taxes and improvements met
LONDON NORTHERN
Brattleboro, Vt., to South
NEW
via
by lessee.
V. 90. p. 1677.
NEW MEXICO
CENTRAL R Y.—Owns Santa Fe, N. M., to Torrance
116.7 miles; 5-mile spur from Clark to Coal mines projected.
Incorporated
Delaware in Jan. 1918 as successor of the RR., foreclosed and bid in
in
for Federal
Export Corp. of 115 B'way,
N. Y. V. 105, p. 1708; V. 106,
S. O. Munoz, N. Y\; Sec., Franklin D. Wagner, and Treas., Fred. L.
499, 929. Capital stock authorized, $2,500,000; par $100.
.
son.
Offices of co.,
(V. 106, p.
929.)
115 B'way, N. Y.
Pres.,
Wat¬
City, and Santa Fe, N. Mex.—
"
NEWTON
Hearne.
pointe
Cameron1
I
N
B U
E T'
Burnet
E A
Livings toi
WILLIAMS
LLANO
Rockdale'
Georgetown
SAN
BURLESON
s.
7
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baton
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9 a R D;
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gFUClAWA
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V
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|
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^^^LV^STON 18.
n
Ituis Pass
Plessanton
4FI
victoria:
hit
§
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ATASCOSA
I
\
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Velasco wiSyTj
v
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MATAGORDA
\Kenedy
place do
1
kHEY^
LCALHOU/&
Tlvoli
IBM);00»N0(1
Beeville
^assyCavallo
Mcmullen
'REFUGIO
Ikldmore.
JOSEPH
LEGEND
ISLAND
PATRICIO
ugelita
LINES
OWNED
LINES
OPERATED
W^jransas Pass
RISTI
^#must;ang
island
wU'/fff68 lasa
yMCorpua
Christi Pass
LINES OPERATED
UNDER
UNDER
TRACKAGE
AGREEMENT
GULF COAST LINES MANAGEMENT
agsvillel
Rjcardoi
Rivera'
Palfurrias
JIM
Mifflin
t
HOGG
ITurcotte.
jWIL
lLACY
(ff
Arnistroug
GULF
Norlas^
HIDALGO '—,
Rudolph
si monte
m cristo
fle dinburg
uS
if
Ytunia
I
|j))Y
Raymoaavuli
tysK.0*
,CoW^8^f®
Catnargo
<2
.SAN
BENITO
kBarredj^Mlj
^Oliu ito~^gra
Matani^u:
Santiago
COAST
LINES
Miles
6]
Date
Par
Amount
Rate
When
Last Dividend
Road
RAILROAD COMPANIES
[For abbreviations, Ac., see notes on page
Bonds
Value
Outstanding
%
Payable
-
„
Mtge on Spuyten D4PM g-Ce.
Lake Shore A M S 1st M gold, ass
Us.xc*Ar
do
Debentures (sec by 2d M) g, ass,Ce.xc*Ar
do
do
do
gold assumed !
Ce.xc*Ar
14,000,000
J
100 Ac
100 Ac
J
A
A
A
$1,000
1,000
1,000
5,870.000
14,169.300
280,000
350,000
5.201,000
650,000
1.726.000
249,849,360
100,000.000
40,000.000
1,000
100
Par
$. £ A fr
1897
Ac
Ac
Ac
Ac
Ac
$645,802
67,437
Gross
Net after taxes
$619,940
76,281
REPORT.—For 1919, gross,
Income,
control.
$2,684,965
defl26,666
^
1919.
$2,294,549
50,292
$2,294,550: net, after taxes, $53,916;
bal., sur., $84,863.
other
$130,445: rentals, Ac., $99,498;
C. Goodyear; Y.-P. A Gen. Mgr.,
C. I. James; Sec. A Treas., F. A.
1415.)
Chairman, Walter P. Cooke; Pres., A.
Wm. E. Farris; Y.-Ps., F. H. Goodyear,
Lehr.—(V. 108, p. 1937; V. 110, p.
NEW ORLEANS 3c NORTH EASTERN RR.—New Orleans, La.
to
Meridian, Miss., 196 miles; trackage. 12 miles. Stock, $6,000,000 (par $100)
substantially all of which has been acquired by Southern Ry. Co.
V. 104,
p.
73; V. 103, p. 1792; V. 105, p.
Federal
D Dec
ae
D Oct
1 1925
1 1935
Oct
1529.
Compensation.—$1,204,992 (contract signed). The company re¬
of the Government guaranty.
fused the six months' extension
,14-'lo. '16. '17 '18.'20.
1 yrly 4
4
6"
In Mar. 1917 a mortgage was authorized to secure not exceeding $16,000,000 bonds.
The initial $7,195,000 (Series A—see table above) were made
Issuable only on cancelation
of the $1,500,000 income bonds of 1902 and
the cancelation of the $6,163,000 Gen. Mtge. bonds (or the deposit of cash
to redeem any uncanceled Gen. Mtge. bonds).
Bonds of $1,371,000 are
DIV.—(%) 1*06. *07. '08. '09. '10. *11. *12. '13.
Yearly
\ 5
6
4
5 63^6^5
5
reserved to retire the Prior Lien 5s and
$363,000 to retire that amount out
equipment trusts outstanding Jan. 1 1917.
The remaining
$6,603,000 new bonds are reserved for additions and improvements under
restrictions.
The old bonds, except prior lien 5s, have all been retired.
Y. 104, p. 865, 659; V. 105, p. 1892; V. 107, p. 1920.
Future issues are to
bear not over 6% Interest, mature not later than Jan. 1 1967, and be
callable at such prices as the directors shall determine.
LATEST
.
-
EARNINGS#—
Gross
Net after taxes
Jan. 1 -Mar. 31
1921.
1920.
$1,742,855
$1,936,906
defl2,174
304,074
Jan. 1 -Dec. 31
1920.
1919.
$7,728,115
$6,446,802
605,453
36,299
1
New
Sept '21-Sept'23
1919 pd 2H% mi
York
Safe Dep A Tr Co. Boston
1 1941
Treasurer,
Philadelphia
1 1948
Apr 1921 2H% Cheeks mailed
Treasurer Penn RR, N Y
A
A
O Oot
1 1935
Quar
May 2 '21. 1H Grand Central Term, NY
Grand Central Ter, N Y
MAN May 1 1935
N
Y. London A Paris
A
A
O Oct 1 2013
J Jan
J
A
J
A
A
A
O
A
A
O Oct
J Jan
1 2013
Grand Central Ter, N Y
94,000.000
July 1 1997
2.500.000
50,000.000
June 1 1959
do
June 1 1997
do
Sept 1 1928
May 1 1931
Chicago, Ac
do
do
do
do
do
do
Feb
1 1998
do
do
Feb
Feb
1 1998
1 1998
do
do
do
do
May 1 1934
do
do
Jan
do
do
1
1942
5% Non-Cumulative Income Bonds.—Limited to $25,000,000 secured by a
trust indenture.
To bear non-cumulative interest payable semi-annually
at rate of 5% per annum, but payable only when and as authorized by
the board of directors, according to provisions of the indenture.
Entitled
bo share in the security of any new mortgage issue on a parity with any
such Indebtedness created in excess of $15,000,000 1st M.
Initial interest
payment, \H%, made April 1 1917, and further Shi% Oct. 1, making
6% for year; thereafter 2^%
semi-annually. 5% p. a. to and incl.
April 1 1921.
Outstanding, $14,169,300; in treasury, $530,400.
Capital Stock.—$26,000,000; issued.
...
■
.$15,000,000
All the outstanding ($535,000) St. Louis Brownsville A Mexico Ry. 6%
receiver's equipment trusts due serially to June 1924 were called for pay¬
ment June 1 1918. V. 106, p. 2011.
Dividends.—Initial dlv. or 1H % on the capital stock was paid Dec. 1
1920; same amount paid March 1 and June 1 1921.
110, p. 2564:
a 1919.
REPORT.—For year 1919, in V.
Calendar Years—
1917.
al918.
$6,661,229
8,013,713
$2,182,291
1,967,825
$2,487,884
$2,295,752
Gross income
$1,758,452
$1,467,923
$1,292,863
Deductions
$1,509,852
a Note.—The figures for 1919 and 1918 unite the accounts of the Railroad
Administration with those of the corporation (disregarding the "Standard
Return") for comparison on the old basis when not under Federa control.
$9,161,456
$1,611,068
Totaf
operating revenues.
Operating income
OFFICERS.—Chairman, G. H. Walker; Pres., J. S.
Sec., Roy Terrell; Treas., A. T. Cole.
DIRECTORS.—J.
S.
Walker,
H.
G.
Pyeatt,
Pyeatt; V.-Pres. A
f,
—
of $605,000
Y
Guaranty Trust Oo, N
O Oct
S15
50,000,000
1903
50,000.000
1906
line N Y to Buf falo, Ac., a nd
1898 1,000 Ac 19.336.000
1898 1,000 Ac 25,005,000
1913 1.000 Ac 65,573,000
1904 1,000 Ac 48,000,000
9.188.000
1912 1,000 Ac
1920.
1920.
Central Union Trust, NY
J P Morgan A Co, N Y
'24 New Orleans, La
'21-June'26 Bankers Trust Co, N Y
Guaranty Trust Co. N Y
J July 1 1953
A
M A
Pledged
1,000
1,000
1,000
1.000
1,000
1909
etc on
Columbia Trust Co. N Y
1 1955
1,000 Ao
Jan. 1 -Dec. 31
1 -Mar. 31
A Aug
J
1897
826
Compensation.—$519,904 yearly during Federal
Jan.
A
175.000
ORLEANS OREAT NORTHERN RR.—Owns New Orleans, La.,
Miss., 182 miles, with branches, Rio, La., to Tylertown, Miss.,
42 m.; Slidell, La„ to Folsom, La„ Ao., 62 m., making a total of 285 miles
operated, incl. 29 m. trackage from New Orleans to Slidell, La., and other
trackage. 13 m.
Stock. $7,500,000.
1st M„ $10,000,000 auth. issue:
1921.
A
119,000
NEW
Federal
J
1.000
to Jaokson,
EARNINGS.—
A
1.371,000
7.195,000
1915
1914
1913
do
J
1,000
1,000 Ac
1,000
1885
do
do
Apr 1 '21 2H% New London Office
J July 1 1940
Cp MAM Bk.NY; reg md
New London Office
D 1990
Q—J
8,348,900
100
1,828
do
1932
J Dec 31
A
Co.Bayonne.N J
N Y Central RR.
Office, 50 Church St, NY
MAN Nov 1 1940
J
A
J Jan 1 1952
F
A
A Aug '21-Aug
1911
1908
22
13
do
(2) N Y C A H Riv bonds secured by Consol'n Mtge
Collateral
(Mich Cent stock as collateral).G.x
Lake Shore Collateral 3J4« assumed
G.xc*Ar
Consolidation M ($167.102.500)
Ba.xc*Ar
Debentures) Junior liens under Con-f
Us.xc*Ar*
do
I
solldation M of 19131
G.sc*Ar
J
1911
17.27
17.27
Meoh Tr
1 1934
1 1986
1916
1916
Series "B"_
(1) Underlying Main Line Mortgage—
NYOfcHR RR M $100,000,000 g-—Ce.xc*Ar
Ac
J July
A Feb
1903
.
.
1,000
A
MAN May
1 1950
J
A
J Nov 27 1985
1916
Ref A Imp M
_
Ac
A
F
1885
1917
1914
Ce.ro*
S16.000.000 g SerAcall 107HQ.rc*&r*
Equip trusts Ser D ($17,000 s-an to Aug 15 1924) -Ser E g. due s a $18,000 June: $17,000 Dec__ Ba
NewOrleans Term—1st M $15,000,000 g gu.G.xo* &r*
New Orleans Texas & Mexico k>...
1st M $15,000,000 gold Ser A call 105~Colyyc*Ar*
Non-com 5% inc $25,000,000 g Ser A call par .c*G
NOTAMeq notes ser B gu due $56,000 s-a
G
Newport A Rlchford—1st M $350,000 g gu o&P.SB.xo
New York Bay—First mortgage $6,000,000 gold.GPx
N Y Bklyn & Manhattan Beach—Pref stock non-oum_
First oons mtge (now 1st M) gold guar by L I-_Ce.o*
N Y Central RR—Stock ($400,000,000 auth)—-Tr
Convertible bonds call 110 $100,000,000
c*Ar*
RefAlmpt M g .Series'4 A,"aasumed.see text a.c*Ar*
1,000
1905
guaranteed prln and int.
gold
Prior lien mortgage
do
Ac
100 Ac
500 Ac
1910
1905
._BaAC*&r*
First mortgage
West River first mortgage
New Mexico Ry & Coal—See El Paso A Northeastern
New Orleans Great Northern—First M g—Col.xo*&r
New Orleans A North Eastern—
J
$250,000
1,700,000
394,000
1,500
631,000
1,500.000
1,500,000
75,000
1,000
1,000
500
100
New London Northern—Stock
do
I
1904
1886
1880
1885
1892
York—lat Mtge ext 1910..
Second mortgage
General mortgage
Where Interest and
Dividends are Payable
Places
and Maturity
New Jersey Indiana & Illinois—First M £250,000 gold
New Jersey Junction—1st M guar $4.000.000_G.zc&r
New Jersey A New
[VOL. 112.
STOCKS AND BONDS
RAILWAY
92
Frank Andrews. Alex
Berger, Stedman Buttrick, Carl A. de Gersdorff, J. D. O'Keefe, Willard V.
King, G. E. Warren, Lorenzo Semple, M. S. Singleton, C. B. Fox, N. A.
McMillan, W. K. Bisby and Elisha Walker.
N. Y. office, 60 Broadway,
—(V. 112, p. 372, 653, 933, 1024.)
NEW
YORK
BAY
RR.—Owns
from
Kearney
N. J., to
piers, on
Junction,
vVaverly, and from Waverly to the bulkhead line at Greenville
York Bay, 10-94 miles, with branches, 2.00 miles; total, 12
New
Stock. $6,000,000, all owned by Penn.
RR.
94 miles.
Mortgages payable, Dec. 31
paid on stock.
Of the
Penn. RR. on Dec. 31
1919, $250,000.
Diva, at rate of 1 ^ % during 1919
$5,201,000 1st M. 48, $960,000 were owned by the
1920.—(V. 86, p. 920, 982.)
NEW
YORK
BROOKLYN
MANHATTAN
&
—.
BEACH
RY.—Owns
Junction to Bay Ridge, 11.93 miles; Manhattan Beach Jet.
to Manhattan Beach, 3.73 miles; Evergreen Branch, Cooper Ave. Jet.
to
Jefferson St., Brooklyn. 1.59 miles: total, 17.25 miles.
Leased for 99
from Fresh Pond
from May 1 1882 to the Long Island Railroad Co., which owns
majority of stock.
Rental, interest on boDds and 5% on preferred stock.
stock, $350,000.
Long Island Railroad has attached to the
bonds Its unconditional guaranty of principal and interest in addition
to facts as to lease.
In Jan. 1919 the Long Island RR. Co. had agreed to
the use of the line from Nostrand Ave. to Manhattan Beach as part of the
years
REPORT.—For calendar year 1919 in V. Ill, p. 1078:
Calendar Year—
Total Income. Int.,Tax.,Ac. Dividends.
$1,247,316
1,249,739
1,677,218
1919
1918
1917
(6)$360,000
(6)360,000
(4)240,000
$524,031
530,752
567,819
Pres., Fairfax Harrison; Sec. A Treas., F. S.
Surplus.
$363,285
358,987
869,399
Wynn.—(V. Ill, p. 1078»
1472.)
Common
Dual
Rapid
Transit Co.,
Transit system for operation by the Interborough Rapid
provided other necessary details can be arranged. V.108.P.379.
106. p. 818.)
—(V. 83. p. 1348; V.
RR.—Algiers to Buras, La., 60 miles
1916 of New Orleans Fort Jackson A Grand Isle Ry., fore¬
a syndicate.
V. 103, p. 407.
Pres., H. Hall, New
Orleans; V.-Ps., Lee Benolst and T. G. Busn; Treas., Bernard
McCloskey; Sec., A. O. Kammer.—(V. 103, p. 1392; V. 104, p. 2343.)
NEW ORLEANS LOWER COAST
(THE) NEW YORK CENTRAL
RAILROAD.—(See Maps.)—Owns in
953 miles of first and second track,
miles of fourth track and 5 miles of fifth track)
total mileage owned Dec. 31 1919 aggregating
Successor Dec. 1
fee direct line from New York to Chicago,
closed and bid in for
723 miles of third track, 657
and numerous branches, the
ORLEANS TERMINAL CO.—Owns extensive terminal prop¬
erty at New Orleans and a belt railroad around the city, leased to the
Southern Railway for 99 years from July 1 1903, rental covering all ex¬
NEW
penses of operation, maintenance, taxes and interest.
Southern Railway
and St. Louis A San Francisco eaoh owned half of the $2,000,000 outstanding
guaranteed the bonds, but the St. L.
and forfeited Its one-half share, the
the same.
See V. 102, p. 886; V. 98, p. 304, 1460;
V. 86, p. 721; V. 88, p. 564; V. 92. p. 660; V. 97. p. 1898.
The passenger
terminals are used by the Southern Railway System, New Orleans Great
Northern RR. and Louisiana Ry. A Navigation Oo.
Pres., Fairfax Harri¬
son.—(Y. 98. p. 763, 1460; V. 100. p. 813.)
stock ($5,000,000 auth.), and jointly
A S. F. on July 1 1913 defaulted
Southern
taking
over
NEW ORLEANS TEXAS & MEXICO RY.—(See Map.)—ROAD.—
ORGANIZATION.—This company and its subsidiaries, all of whose out¬
standing capitalization, both bonds and stock (excepting only $500 to $900
directors' shares) it owns, namely, the St. Louis Brownsville A Mexico Ry.,
Beaumont Sour Lake A West. Ry. and Orange A Northwest. RR., form a
direct line from Brownsville, Tex., to Baton Rouge, La., whence ferry across
the river and
the Yazoo A Miss. Valley Ry. (Illinois Central RR.) afford
an operating connection to New Orleans.
Valuation protest. V. 104, o- 257.
Mileage Operated Dec. 31 1919 (Including Aforesaid Subsidiary Lines).
Main line: Anchorage to De
Quincey, La., 137 miles; Beaumont to Hous¬
miles; Algoa to Brownsville, Tex., 343 miles; branches and
821 miles: operations under trackage rights, 99 miles; operations
special traffic agreement: Y. A M. V. RR., 93 miles; total operated,
1,013 miles; side .track, 67 miles; yard track and spurs, 162 miles; total
track, 1,242 miles.
ton, Tex., 83
spurs,
under
ORGANIZATION.—Formerly part of St. Louis A San Francisco RR
but
in
1916
V. 101, p.
In Apr.
separately reorganized, after foreclosure sale, per plan in
774, 768, 1714; V. 102, p. 886.
Incorporated in Louisiana
1921 contract with U. S. Government was still pending
Government loan, Y. 112, p. 653, 1024.
SECURITIES.—These Include (see V. 103, p. 493):
Int. rate, not exceeding
6% per annum, as determined at time of issue.
Issuable in seriee, due
at the same or different dates, not later than Oct. 1 1925, and callable at
First Lien Oold Bonds.—Total auth., $15,000,000.
a
premium.
Reserved under restrictions for future extensions, improve¬
which in treasury
ments, Ac.,
$9,000,000.
Issued $6,000,000, of
Dec. 31 1920 $130,000.
V. 103, p. 61, 1593, 2156.
(leased),
and
Erie
miles.
Also owns stock control of the West Shore RR.
Y. to Buffalo and thence to Chicago, via Michigan Central RR.
Canada Southern Ry.
By similar control of the Pittsburgh A Lake
3,699
N.
RR. the Cleveland Cincinnati Chicago A St. Louis Ry. and other com¬
panies, has close running connection to Pittsburgh, Columbus, Cincinnati,
Indianapolis, St. Louis, Ac.
Total system owned, controlled, Ac., Dec. 31
1919, 6,069 miles of first track, and total trackage of 15,384 miles.
Operated Directly.
163
Lines Owned—
Miles. Beech Creek RR.*
New York to Chicago
953 Beech Creek Exten. RR., Ac.*- 135
Walkill Valley
33
Branches
2,746
Mahoning Coal RR*
70
Lines Leased, etc. (♦See this co.)—
West
479
Shore*
Troy A Green bush*
New York A Harlem*
—
New Jersey Junction*
Detroit Toledo A Milwaukee—
Kalamazoo A. A G. R
6
136
6
47
65
Detroit Hillsdale A 8 W*
Fort Wayne A Jackson*
Lake Erie Alliance A WheelingErie A Kalamazoo RR
Trackage
—.
98
88
22
451
rights. Ac,
Total in earnings Dec. 31 '19-5,675
58
56
Leased—Operated separately—
57 Boston A Albany system
394
Battle Greek A Sturgis
7
Controlled—Operated Separately.
436
Michigan Central*
1.862 Toledo A Ohio Central
177
Lake Erie A Western*
710 Kanawha A Michigan
Zanesville A Western
87
Clev. Cin. Chic. A St. L. 8yst_*2,409
Cincinnati Northern*
246 Indiana Harb. Belt (V. 93.P.164) 116
Toronto Hamilton A Buffalo—
104
Pitta. A Lake Erie System*
225
--
St. Lawrence A
Ottawa A New
Adirondack*--
York
Chicago Kalamazoo A Saginaw
45
ORGANIZATION.—The New York
Central RR. Co. was formed by
consolidation, effective Dec. 23 1914. under laws of N. Y., Penna..
rnd.. Mich, and 111., of the N. Y. Central A Hudson River RR. (as
Ohio,
enlarged
Ogdensburg and other
leading Western sub¬
sidiary. the Lake Shore A Mich. 8o. Ry., and 9 minor controlled properties.
See V1. 96, p. 1425; V. 98, p. 387, 1393; V. 100, p. 140.
In 1916 sold Its controlling interest In the stock of the N. Y. Chicago A
St. Louis
RR. to Cleveland
Interests.
V. 104. p. 1598.
Entire stock
1913 by the absorption of Rome Watertown A
New York branch lines; see bond table above) and Its
In
owned.
V. 103, p. 1794.
In 1917 a subsidiary, the Hudson River Connecting RR., received au¬
thority to build a bridge across the Hudson River 11 miles south of Albany
See that company above.
Cleveland terminal, V. 106, p. 1231.
Proposed
new Niagara River bridge. V. 106. p. 1689, 2011.
Court decision respect¬
ing Toledo A Ohio Central, Ac., V. 105, p. 819, 998.
Lease of real estate
Clearfield Bituminous Coal Oo. Is
MAT, 1921.]
RAILWAY
STOCKS AND BONDS
RAILROAD COMPANIES
Miles
Date
[For abbreviations, &c., see notes on page 6]
Road
Bonds
Now
Pat
Amount
Rate
When
Outstanding
Value
%
Payable
93
Last Dividend
and Maturity
Places Where Interest and
Dividends are Payable.
York Central RR (Coru;lufUd)~~
(3) Other New York Central A Hudson Riser BR Assum ed, Ac, Issues—
Debentures (V 69, p 1102; V 71, p 602, 964).—.x
Borne Wat A Ogdens 1st Oon M ($600,000 334s) F.zc
Consol mortgage..—
............Fjbx
Utica & Bl'k Ely 1st M gold guar p & !_..Ce.zc
New York A Northern first mortgage gold
zc
N Y & Putnam cons g gu p A i—....—Un.xc*Ar
Mob A Mai 1st M. $15,000 p m g gu pAi(end)Col xc*
Consolidated mtge gold—............G.xc*Ar
Carthage A Adirondack 1st M g guar
Un.xc*Ar
Carth Water A Sack Her 1st M g gu p A I (end) ..x
Gouverneur A Oawegatchie 1st M g gu p A l.Un.xc
Little Falls A Dolgeville first mortgage.........x
_
AU
All
150
67
67
182
182
46
29
13
...
1900
1874
1 bond
1874
1890
1887
1894
1892
1902
1892
1,000
1,000
1,000
1.000
1,000
1,000 Ac
1.000
1,000
1,000
$5,500,000
9,576.000
419,000
1.950.000
1,200,000
3,987.000
2.500.000
3,900,000
1,100,000
300,000
300,000
250.000
1.000
1891
1892
1902
•
(4) Bonds of Other Companies Included in
terger of Jan and M iflYliT
Indiana Illinois A Iowa 1st M gold
1901
IC.xc*
203
1.000
Chic Ind A South consol M gold....
1906
G.xc»Ar
337
1.000 Ac
Kalamazoo A White Pigeon 1st M assum...(Jnjcc
1890
37
1.000
Pine Creek 1st M gu prin and int endorsed
1885
r
76
1.000
1.000
Sturgis Goshen & St Louis 1st M gold p A1 guar
a
29 1889
4.850,000
15.150.000
400,000
3.600,000
322.000
July
July
July
July
4
i8
5g
Oct
Oct
ig
8
4
M
A
Sept
3H g M
J
A
A
Mar
Dec
ig
J
J
5g
8
12000
11922
11922
1 1922
11927
11993
11991
1 2002
11981
11931
Grand Oentral Term.N Y
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
A
July
A
A
J
June 11942
July 11932
Am Exch Nat Bk. N Y
Lincoln Nat Bank, N Y
Treas Grand Cent Term
Treas, Grand Cent Term
ie
4 g
A
July 1 1950
A
6
A
Jan
Jan
6
A
3 g
A
1
1
Dec 1
Deo 1
1956
1940
1932
1989
do
i
1
do
do
do
do
Jamestown Franklin & Clearfield—
1909
1st M $25,000,000 auth guar...—...G.xo* Ar*
Cleveland Short Line By 1st M gold guar..Q.xc*Ar
Lake Erie A Pittsburgh—see that company—
(5) Note, Ac., Issues—
»
Equip trust (B A A) $500,000 due yrly
G_zc*Ar
Equip tr due $1,031,000 yrly due Jan l....Q.yc»Ar
Equipment trust $2,415,000 yearly April 15-G.c*
Collateral loan from Central Union Trust Co ext.
Ten-year coll trust gold bonds red 105—Q.c*Ar*
Kalamazoo Allegan A Gr Rapids—See tnis company
1.000 Ao
1,000 Ao
1912
1917
1920
1918
1920
..
11.000.000
11.800.000
1.000AC
l.OOOAc
1911
3.500.000
11,341,000
33,810,000
6,000,000
25.000,000
500. Ac
500 Ac
4 g
J
A
June 11959
4H8
A
A
Apr 11961
A
|H 1
J
A
A
Jan 1922
A
&
Ig
7
g
Grand Cent Term, N Y
do
do and Lond
Yrly to Oct '27 New York
tor,32 Guaranty Tr Co, N Y
Apr 15 '22 to '35 Guaranty Trust Co, N Y
May 5 1920
MAS Sept 11930
New York""^""""'"""*'""'"
Erie A Kalamazoo—See that company.
in New York City, V. 110, p. 2292.
Tax decision, V. 110, p. 2658.
Wins
ejectment suit, v. Ill, p. 2229.
Rate decision, V. Ill, p. 2424.
To
build Union Passenger Terminal at Cleveland, V. 112, p
1024.
Wage
reductions, V
.
„
The
compa
Commission for authority to lease,
oi>erate and ultimately purchase the
Chicago Junction Ry. terminal properties at Chicago.
V, 112, p. 62
Partial List of Stock Holdings Dec. 31 1919.
-Amounts Owned—
Total Outstanding—
Pref. Stks.
Com. Stock.
$16,819,300
17,993,100
865,900
30,207,700
5,940,000
5,846,300
5,532,450
9,852,500
Com. Stock.
None $18,738,000
Michigan Central.
Pittsburgh A Lake Erie.
None
35,985,600
Mahoning Coal RR_...
399,500
661,367
1,500,000
O O O A St Louis Ry.
10,000,000
47,056,300
Lake Erie A Western
5,930,000
11,840,000
11,840,000
Toledo A Ohio Central..
3,701,400
3,708,000
6,500,000
New York & Harlem...
1,141,450
1,343,950
8,656,050
Reading Co ,1st pref—
6,065,000
28,000,0001 70,000,000
Second preferred
14,265,000
42,000,000/
N Y State Railways—
600
13,604,300
3,862,500
19,952,400
Mohawk Valley Co
None
5,114.300
7,500,000
Also stock of West Shore,
Ac.
See "Stocks Pledged.
The New York State Railways Co. (see "Electric Railway Section") is
the company's trolley ally.
Compare V. 100. p. 399 475—.
........
Pref. Stks.
and also
over the former Cleveland Short Line Rv.
Jamestown Franklin A
Clearfield RR., Sturgis Goshen A St. Louis Ry. and Elkhart A Western
RR., acquired by conveyance in 1915 (see "Organization" above).
The
len created by this supplemental mortgage is subject, as to
parts of the
mortgaged properties, to the respective prior liens of the several underlying
mortgages thereon shown in table above.
See "Finances" below as to
pledge of $20,000,000 bonds in 1917 to secure notes.
Bonds
for Retirement of which Ref. A Impt. Mortgage Bonds were Reserved.
1st M. of 1897. due 1997.—*
—:
————$100,000,000
Consolidation Mtge. (see above) dated 1913. due 1998...... 167,102.400
17 divisional issues of N. Y. Cent. A Hud. River RR.........
29.509.000
Old bonds of Lake Shore and other cos. absorbed in 1914-15... 197.002.000
Convertible 6% 20- Year Bond Issue of $100,000,600 Dated May 1191$.
These bonds are convertible into stock at the rate of $100 of stock for
$105 of bonds, between May 1 1917 and May 1 1925.
They may be called
for redemption on any interest date at 110 and int. upon 90 days' notice,
but. If so called, they may be converted Into stock up to 30 days prior to
date of redemption.
Denom c* $1,000; r* $100, $500. $1,000, $5,000 and
t00,000. 1349,"General Finances7, below and V. 100. p. 556. 643, 599-4.
13, 902, See
1438, 1833; V. 102, p. 1443; V. 109, p. 72.
...
STOCK.—Dividends
stock reglst. in London are pay. at 49 Xd. to $.
The authorized amount of the capital stock is $400,000,000. of which
on Jan. 1 1920 $249,849,360 was outstanding, $100,000,000 is reserved for
conversion of debentures of 1915.
*
Dec. 311919 the Oregon Short Line RR. Co. (Union Pacific) owned $21,on
000,000 N. Y. Centra] stock; also $3,000,000 Ref. A Impt. M. 4Hie and
$8,000,000 20=year 6% convertible bonds. V. 84, p. 52, 571; V. 89. p 411.
„/Q UUUVtJ
DlVS.
1
Of. '08. m '10.
'11. 12-15. *16.
T17
'18. '19. '20. 1921.
Perc'nt.„ 1
6
5
5X
5
5
5
text
6%
5X
5 yrly.
5
5
In 1921: Feb., 1M%; May, lx%.
^
^
.
Consolidation Mort. $167,102,400 Secures Without Increasing Debt.
(1) Equally by Lien Prior to that Securing the Debentures and the 4 % bonds—
(a) N. Y. Gent. 3% % Lake Shore coll. bonds of 1898-1998.—$90,578,000
(On Dec. 311919 $65,573,000 of these had been exchanged
for Consolidation Mtge. Series A 4s,
See below.)
(5) N, Y. Gent. 3X % Mich. Cent. colt, bonds of 1898-1998.... 19.336,000
1) N.
3H
coil,
189*
(2) Equally by Lien Subsequent to Lien of Aforesaid-
ic) N. Y. Cent: debentures of 1904, due 1934...
)
Gent,
$48,000,000
(a) N. Y, Gent, debentures of 1912, due 1942
........
9,188,000
(e) 4% Consolidation Mtge. bonds dated, Aug. 1 1913 and due
Feb. 1 1998. issuable in serifes A, B. O and D only to refund
above collateral bonds and debentures, respectively.
See below.
The Consolidation Mortgage (securing the collateral issues and other
bonds In the order indicated above) covers by a lien ranking ahead of the Re¬
fund. A Impt. Mtg. (see below), the lines owned In 1913 (ind. those then
brought in by consolidation or merger), 75% (3.750 shares) of the stock of
Hudson River Bridge Co. at Albany and tne leases of Troy A Greenbusb,
New York A Harlem, West Shore and Beech Creek railroads.
On the main
line between New York and Buffalo there Is no lien ahead of It except the
f100,000,000 1st M. of 1897; and on the railroads consolidated or merged in
913, such as the Rome Watertown A Ogdens burg, Mohawk A Malone,
Ac., there are no prior liens except the old underlying mortgages thereof
and the N. Y. Central's $100,000,000 1st M,
V. 102, p. 800. 1541.
Refunding & Impt. Mtge. for New Capital and Debt Unification.
The purpose of the Refunding and Impt. Mtge. was to provide for future
financing of the N. Y. Cent. A Hud. River and the consolidated company,
and for the unification of the debt.
The bonds are issuable in series, all
due Oct. 1 2013, but bearing date of April 1 or Oct. 1 next preceding the
date on which the series is authorized, and carrying Interest at such rates,
subject to call at such dates, and prices, and with such provisions as to con¬
version, Ac., as shall be fixed for successive series. V. 96, p. 1424.
The amount of bonds which may be Issued under the Ref. and Imp. M.
Is not limited to a stated amount, but is determined bv standards sec up
In the mortgage itself, and those standards are believed to be such that a
bondholder will be indifferent as to the amount of bonds which may be
outstanding under the mortgage, so long as the standards are complied
with.
The amount of Ref. A Impt. M. bonds outstanding cannot exceed
three times the amount of the capital stock as from time to time increasedAfter $500,000,000 of the bonds shall have been issued, not more than
80% of the cost of improvements, additions or new property can be paid
for from the proceeds of bonds.
Not more tban one-third of the amount
of bonds can be used in the acquisition of bonds or stocks of otner com-
Sanies.
onds
After $500,000,000 thebondsof stockholders. issued, Issue of bonds
be Issued without of vote shall have been
Each no additional
can
must receive
approval of RR commissions and P. S. Commissions.
V. 98.
387. 611. 690, 1245. 1393: V. 99. p. 1052. 1131. 1367; V. 100, p. 1079;
V, 104, p. 1387; V. 106. p. 2757r
The Ref. A Impt. M. la (1) a lien next to the lien of the Consolidation
Mtge. (see above) on the properties, Ac., covered by the Consolidation
Mortgage.
(2) A first lien on the leases of the Beech Creek Extension
New Jersey Junction and Wallkill Valley railroads, subject to the out¬
standing bonds of each.
(3) A first collateral lien on $500,000 2d Mtge
bonds of Beech Creek BR. and $3,964,000 Consol. Mtge. 4s of the Beech
Creek Extension RR. companies., (4) A first collateral lien 00—
p.
Pledge of Stock owned in—Pref.Stock. Com. Stk. Pref. Iss'd. Com.Iss'd
RR.(par$50)$1,1U,300 $5,069,400 $1,343,950 $8,656,050
10,000,000
10.000,000
Beech Creek Extension RR
5.179.000
5,179,000
New Jersey Junction RR
100,000
100.000
The Refunding A Impt. Mtge. is also a lien upon the properties described
in the supplemental indenture (dated June 151915), assuming, as authorized
by the shareholders, the obligations of the Ref. A Impt. Mtge. and extend beg the lien thereof over the former Lake Shore A Mich. So. Ry., Chicago
Ind. A So. RR.. Geneva Corning A So. RR.. Dunkirk Alleg. Vai. A Pitts
RR. and all of the other properties included in the consolidation of 1914.
N. Y. A Harlem
West Shore RR
.
_
*
--
RIVER RR.—Firsl
OLD BONDS OF N. Y. CENTRAL A HUDSON
mortgage is for $100,000,000, covering the original road owned, and, by
ramuemental
930
deed.
miles
A OgdensAc.) merged In 1913.
V.77,p.462; V.86,p. 1043.1101; V. 88,
606; V. 94, p. 208; V. 96. p. 1424.
: ■
'
Collateral trust 3Ha of 1898 were secured by deposit of stock of the Lake
4hore A Mich. Sou. and Mich, Central RRs., respectively, at the rate of
$100 of L. S. A M. S. stock for each $200 of bonds and $100 of Mich. Gent,
stock for each $115 of bonds.
The Lake Shore collateral 3J4s (75%)
exchanged for Consolidation Mortgage 4s, Series A, are a direct (third) mtge
on the former Lake Shore A Mich. So. Ry., Detroit Monroe A Toledo RR..
Northern Oentral Mich. RR., Kalamazoo A White Pigeon RR. and Swan
Creek Ry. of Toledo.
See tne "Consolidation Mortgage" above. V. 96.
p. 1424; V. 66,p. 336,811; V. 102,p. 522; V. 100. p. 556,2085; V. lOl.p.288.
The New York Oentral Railroad Co. has duly made an Indenture
co secure the payment of (a)
the 3H% gold bonds, Lake Shore Col¬
lateral, and (ft) by secondary lien thereunder so many of the 4% Consolida¬
tion Mortgage Gold Bonds, Series A. as may be issued to
pay and retire
an equal amount of 3 H % gold bonds. Lake Shore collateral (the two issues
Aggregating $90,578,400) ,by a lien upon the railroads,Ac., formerly owned by
she Lake Shore, and also on the property of its four former subsidiaries,
viz,* Det. Monroe A Tol, RR. Co., Nor. Central Mich, RR. Go., Kal. A
White Pigeon RR. Co. and Swan Creek Ry. of Tol., such lien following the
lien thereon of Lake Shore A Mich. So. 1st M. 3Hb of 1897 and the $100,000,000 Lake Shore debenture (now mortgage) bonds of 1903 and 1906.
LAKE SHORE A MIOH. SOUTHERN BONDS.—The N. Y, Central
RR. by supplemental Indenture (dated Jan. 1 1915) assumed the obliga¬
tions of tne $50,000,000 3 H% 1st M. of 1897 (see V. 64, p. 1182), and has
extended the lien of that mortgage over the railroads, Ac., formerly
owned by Det. Monroe A Toledo RR Co.. Northern Central Mich. RR.
Go., Kal. A White Pigeon RR. Co. and Swan Creek Ry Co. of Toledo, and
It has also executed a supplemental indenture dated Jan. 2 1915. assuming
the obligations of the mortgage dated July 1 1914, securing the 25-year
I % gold bonds of 1903 and 1906, aggregating $100,000,000 (two issues,
$50,000,000 each), and extending the lien thereof to said add'i properties.
The $25,000,000 10-year 7% collateral trust bonds are secured by the
olio wing collateral; $25,000,000 N Y O RR Ref A Imp M 6s. Series
B: $3,750,000 Reading Co
1st pref stock, and $5,500,000 Reading Co.
2d pref stock
Proceeds used to retire $15,000,000 notes maturing Sept.
15 1920 and $8,000,000 bank loans
V 111, p 792
As to guaranty of Kanawha A Hocking Coal A Coke and Continental
Coal Co. bonds, see V. 109, p. 1527.
EQUIPMENT BONDS,—See "N, Y. Oentral Lines" below.
of lines
(Rome
Watertown
bui*.
p.
,
,
.
o
B. A A.
equipment trust, see V. 95, p. 1040.1332,1403; V. 98, p* 1072.
Equip. Trust of 1917. V. 105. p. 1209; V. 106. p. 896; V. 104. p. 2235,
1598
In Dec
1919 $2,780,000 of this last issue had matured or been
canceled; $13,404,000 were outstanding
Equipment trust of 1920, V, 110, p. 1520.
•
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
©^Government loan, V. Ill, p. 792, 2521; V. 112. P. 162.
,
„
_
"ANNUAL COMPENSATION:—By Gait, contract (V. 108, p 79, 2337),
New York Central proper, $55,802,630.
Subsidiaries, viz., Toledo A Ohio
Oentral By., $1,086,650; Zanesville A Western, def. $107,598; Kanawha A
Michigan,
$1,2^5.141;
total, $58,-
Kanawha A West Virginia, $45,260;
122.084.
•
■
.....
compensation aggregates $87,629,534 when the subsidiaries
(separately operated) shown below are Included, viz.: $9,945,738 for Glev.
Oln. Chic. A St. L. RR. and Muncie Belt RR.; $8,980,219 for Pittsburgh A
Lake Erie RR.; $317,628 for Cincinnati Northern RR.; $296,053 for Indiana
Harbor Belt RR.; $8,105,727 for Chicago Kalamazoo A Saginaw RR. and
Michigan Central: $1,548,541 for Lake Erie A Western; $127,081 for Lake
Erie A Eastern RR., and $186,460 for Detroit Terminal RR.
Venner suit, V. 108, p. 1275, 1937.
■
•
In May 1918 borrowed $6,000,000 from Central Union Trust Co. at 6%
for use with other funds in taking up $6,000,000 notes of Mich. Cent. RR.
This bank loan as extended matured in May 1919, but was again extended
to May 1920.
V, 106, p. 2123; V. 107. p. 1920.
Company's real estatenoldings In N Y. Oity. V. 106. p. 607.
Jan. 1—Mar. 31
Jan. 1—Dec. 81
EARNINGS.—
1921.
1920.
1920.^^^1919.
Gross.
.—....$77,210,965 $80,384,157$368,355,216S310,715.575
Net after taxes
2,546,382
4,363,098
6,111,625
50,124,374
REPORT —For year ending Dec. 31 1919 in V. Ill, p. 487, 501.
The
total
,
„
_
__
U s Operations
Co Oper'ns
1919
1918
lj>17
.......283,659,330 269,270,957 216,267,517
taxes, Ac
235,582,254 221,928,599 164,857,195
Calendar Years (All $)—
Operating
Operating
_
_
revenues..
expenses,
Operating income
....
....
48.077,077
47,342.358
51.410,322
Miles
6]
Date
Par
Bonds
Value
Outstanding
1907
1910
1912
1913
$1.000Ao
1,000 Ao
1.000 Ao
1,000 Ac
$2,000,000
8.000,000
6,000.000
11,200.000
100
14,000,000
11,000,000
5,000,000
17.987,000
c 08)-
Lines (incl various associated
82.000,000 an (V 86. p 920) -O.zo'Ar
$2,000,000 an (V 90. p 914) — G.zc* Ar
do
do
due 81,000.000 yearly
Q zo*Ar
do
do
due $1.600.000 yearly
G.zc*Ar
New York Chicago & St Louis—Common stock—
Second preferred stock (5% non-cumulative)
First preferred (5% non-cumulative)—
_ —
First mortgage gold (closed)
Ce.xc*«r
2d A Impt Mtge $25,000,000 g Ser A—ClCl.xxxkc*;
Debenture bonds gold sec by 2d Mtge—_G.xc*Ar*
Eqps of *16 Sl.lOO.OOO duel 110,000 each Aug lO.c*
Equipment trusts due $30,000 yrly Oct 1
G
do
do
sink fd red 101 & int
xxc»
N Y Conn RR—1st M g red 105 begAug'18-G.yc»£r*
N Y & Oreenw Lake—Prior lien M gu p & LN.gxc*
New York & Harlem—Commonll0% guaranteed
Preferred stock 14%, 10% guaranteed
—
Ref. mtge (now first) 812,000.000 guar— Q xo*&r
N Y Lackawanna 6t Western—Stook cruar'5%— (end)
Construction mtge guar by D L A W (end)—F.xc*
Third M Term Imp (85.000.000) guar p A1 (end) F x
New York lake Erie A Western—See Erie RK
N Y & Long Br—Gen M (now 1st) 82.500,000 g
Ce.C
York Central
Joint eq tr g
do
do
.
100
100
Debentures convertible (see text)
146
146
136
1900
214
1883
214
1890
1,000
1.000
38
1891
1,000
2.500,000
1906
1906
1907
—
--
—z
($29,000.000)
x
(text) —-zc*&r
Debs N.H. station due $100,000 yly (V.106.p,1675)
Notes to U S Gov call (U S Dar, others 102)—text
Note to Director-General of Railroads-Notes to Secretary of Treasury--- —-----------N Y Pr ABost genM (now 1st) gass,$4,000,000zc&r
XJ.
S.
69,270,921
2,017,502
6,018,703
859,863
_
Income from unfunded securities, Ac-
income
War taxes.
Hire of
Co.
6,022,252
1,733,454
871,602
,
-
Miscellaneous —-I-—
Rent for leased roads
on
Interest on
2,752,197
9,288,648
29,227,222
5,100,843
Dividends paid
(5%)
(U S
Admin )
years
surplus
Balance,
Oper'ns
1917,
$
626,808
7,464,994
470,716
2,209,506
66,873,020
2,480,452
2,584,688
6,462,350
29,099,072
762,807
12,479,603
2,151,740
9,314,910
29,432,623
2,004,364
12,479,611
3,196,369
7,433,063
funded debt
unfunded debt
Items prev
Reg. Interest Am
4,690", 680
equipment
Interest
12,479,610
6,548,324
5,321,948
13,004,054
OFFICERS.—President, A. H. Smith; Chairman, Ohauncey M. Depew.
Vice-Presidents, A. T. Hardin, Ira A. Place, A. H. Harris, G. H. Ingalls;
J. Carstensen; Treas., Edw. L. Rossiter; Sec., E. F. Stephenson.
Direc¬
tors: A. T. Hardin, F. W. Vanderbilt, C. M. Depew, Harold S. Vanderbilt,
William Rockefeller, Geo. F. Baker. W. K. Vanderbilt, Jr., Ogden Mills,
R. 8. Lovett, Carl R. Gray, A. H. Smith, Edward S. Harkness and Frank
J. Jerome.—(V. 112, p. 62,162,258,470, 653, 744,1024,1144,1399,1519.)
YORK CENTRAL LINES.—The N. Y. Central Lines equip,
engines, passenger cars and freight cars used by various lines
jointly and severally agree to pay prin. and int., the
larger part being for N. Y. Central
V. 99. p 159k; V. 102. p. 345; V 103
NEW
trusts
nor
CHICAGO & ST.
YORK
LOUIS
RR.—Owns from
Buffalo
leased between Dunkirk and
proprietary line, Chicago A
Line RR., Illinois State line to 71st St., Chicago, 10 miles; also leases
N. Y., to Illinois State line, except 8 miles
Silver Creek, leaving 495 miles;
leases the
State
Dunkirk to Silver Creek, 8 miles;
total, 513 miles; trackage In Buffalo
N. Y., 2 miles, and 71st St., Chicago, 111 (N Y. Central RR.), 8 miles.
Nickel Plate Conn. RR. (4 miles projected at Buffalo), V. 105, p. 819.
In Mch. 1921 the company had not yet
concluded a contract with the
U. S. RR. Administration.
The so-called "standard return," as certified
by the I.-S. C. Commission, is $2,440,693.
The company refused the six
months' extension Of the Government guaranty.
STOOK.—In July 1910 Cleveland Interests bought the control of the
property from the New York Central RR. Co., viz.;
$6,240,000 common,
$6,275,000 2d pref. and $2,503,000 1st pref. stock.
In payment was given
$2,000,000 cash and $6,500,000 notes (secured by the stock and bearing 4%
Interest for five years and 5% thereafter—one note due $650,000 In 192)
and the others for like amount at intervals of one year thereafter.
V. 103
The Nickel Plate Securities Corporation was incorporated in Dela
Dec. 4 1916 with $15,000,000 auth. capital stock ($2,500,000 pref )
to hold the control of the N. Y. Chicago A St. Louis (known as the Nickel
146.
p.
ware on
Plate road).
Principally a freight road.
V. 103, p. 2238; V. 104, p. 1899
After 5% on all of the stocks, all classes of stock share alike.
17
'18. 19.
D1V8. (since 1908)
'10.'11-'12. *13. '14. *15. '16.
'20-'21
First preferred
Second
Paid
5
5
5
2X
See
.
2X
text
3
5%
May 1
on
5 y'ly
5
234
0
5
5 y'ly
5
2X
0
0
3 y'ly
4
0
0
0
1st pref. Jan. 23 and July 12 1920.
7X
7X
preferred
Common
on
1920;_5%
common
ig.
Aug.
Jan.
6
6
1920.
.
(See under "Report" below.)
Paid 5%
15 1921.
on
V. Ill, p. 2521.
V. 45, p. 541.
July 2 1918 authorized a "Second A Impt. Mtge."
for $35,000,000, including the
$10,000,000 debentures of 1906, which are
equally secured, leaving $25,000,000 that may be issued for improvements.
The bonds are to be issued in series, each series to bear such rate of interest
as may be fixed by the directors.
In Mar. 1919 the initial $4,135,000 bonds
and July 1 1919 $821,000 additional under this mortgage was sold to
reimburse the company for capital expenditures under Federal control and
prior thereto.
V. 108, p. 1061, 579.
(V. 107, p. 1670.)
Equip, trusts V. 103. p. 1032; V. 104, p. 952,1592,1801; V. 100, p. 2007.
Jan"
EARNINGS—
Gross
1921.
$6,487,748
945,019
-----
Net after
taxes.
—
1 -Mar. 31
1920.
.
„
J
Railroad
revenue
'
Operating income
Jan.
1 -Dec.
1920.
31
1919-
$6,578,116 $28,225,188 $23,475,552
1,117,530
4,488,269
4,526,352
Other income
—
1920.
on
Div.
$4,507,474
$1,640,640
716,583
bonds.
2d pref.
Common dividend
x
on
1918.
1917.
$28,655,548 $23,478,763 $22,656,381 $16,901,206
3,816,117
4,453,271
4,487,920
3,011,759
691,357
260,484
196,854
355,875
Gross corp. income...
Interest
Hire of equipment, Ac—
x Div. on 1st pref. (5%)
1919.
j
(5%)'
$4,713,755
$1,580,797
764,443
799,885/1(2^)274995
249,895
4 g &
5
do
1 2000
1 1921 IX Del Lack A
do
1 1923
do
1 1923
$4,684,774
$1,378,300
1,029,258
$3,367,634
$1,324,566
1,192,429
249,895
—
(5)549,990
699,480
Balance, surplus
$650,885
$1,843,625
$2,277,216
$50,754
x The report for 1917 charged against the income (a) the two semi-annual
as to
just compensation" from U. S. RR.
Administration.
The 1919 report charges (a) against income of 1919 the 5% on First Pref.
paid Jan. 23 1920 and against profit and loss the 2X % paid July 22 1919 on
the 2d Pref. for year 1917 and a
s that "pending decision as to just com¬
pensation and other matters in dispute arising out of Federal control no
do
New York Trust Co, N Y
8ept30'13 IX % Co's office. New Haven
MAS Sept 1 1941
MAS Mch
1 1947
Lincoln Nat Bank, N Y
A
A
1 1954
Second Nat
A
O
4
Apr
MAN May 1
A
A
O Apr 1
t g
J
6 g
N H
Lincoln Nat Bank. N Y
J P Morgan A Co., N Y
Second Nat Bk.New Hav
Second
1956
1922
J15 Jan 15 1948
MAN Nov '21-Nov '24
6 g
H
Bank, N
Nat Bank, N Y
Lincoln
J July 1 1955
J Jan
1 1956
A
Nat Bank,
See text
6
MAS Mar
6 g
6 g
A
&
O Oct
A
A
O Apr
1
1930
1935
31
4 g
Exch. Nat.Ban k:
coup.
N
CentUnion Tr Co,
1942
Y
of Penn. RR„ Phil
Int. Tr
dividends for 1918 on First and 2d Pref. stocks
on
1919
1
2d Pref. stock."
on
NEW YORK & GREENWOOD LAKE RY.—(See Map o1 Erie RR.)Jot., N. J„ to Sterling Forest, 42 m., and branches to
Ringwood, Ao., 8 m.; Watohung Ry., Forest Hill to Orange, N. J., 4 m.;
total owned, 54 m.
Stock, $100,000; par, $50.
Leased to Erie RR. for
999 years from May 1 1896.
Prior lien bonds are guaranteed, prin. and Int.;
by Erie.
See V. 03. p. 513; form of guaranty, V. 65, p. 463.
Owns from Croxton
NEW
YORK &
HARLEM RR.—(See
New York
Railroad).—
Central
N. Y., 136 m.
Also owns street
Fourth A Madison avenues. N.Y. City. 10 m.
Aflsets, V.95, p. 47
The N. Y. Central RR. owned on Dec. 31 1919, $5,532,450 common and
Owns steam road N. Y. City to Chatham,
railroad
on
V. 94. p. 208, 768; V. 93,
1788, 1600, 1696; V. 94, p. 1057; V. 98, p. 1157; V. 99, p. 1749.
(since partly electrified) was leased April 1 1873 for 401
years to the N. Y. Cent. A Hudson River RR. Co.; and the street railway
was leased July 1
1896 for 999 years to the Metropolitan Street Ry. (now
N. Y. Railways Co.), at annual rental intended to provide dividends as
follows, the interest on the bonds being taken care of under lease of the
$1,141,450 preferred of the $10,000,000 stock.
p.
The steam road
steam
road.
Payable—
Dividends.
Rental—
per annum guaranteed
Jan. 5%; July
railway—$400,000 yearly—4% p.a. (see below) .April 2%: Oct.
Steam road—10%
Street
dividends
1919.
having defaulted on the street railway rental.
M. Mayer in Jan. 1920, the street railway line
pany as of Jan. 31 1920
V. 108, p. 79; Y. 109.
These
NEW
last
were
not
paid in
5%
2%
Y. Railways Co.
By order of Judge Julius
was returned to the com¬
p. 1273; V. 110, p. 360.
the N.
YORK LACKAWANNA & WESTERN RY—Bingham ton to Bufand branches, 214 m., of which the main line, 213
folo and Internat. Bridge
is double traok; D. L. A W. has a lease for duration of charter from Oct.
1882, giving a gtiarantv of the bonds and 5% yearly on the stook. See form
m„
The
A W.
terminal bonds in V. 67, p. 1357; see also V. 68, p. 283.
$12,000,000 1st M. 6s, due Jan. 1 1921, were redeemed by the D. L.
RR. on that date. V. 112, p. 162.
•
of guaranty of
NEW YORK & LONG BRANCH RR.—Perth Amboy to BaF Head, N. J.,
Operated under an agreement made In 1888 for a period of 99
with Penn. RR. and Gent. RR. of N. J., which jointly and severally
guarantee Interest and 7% on the $2,000,000 stock, all owned bv Centra)
RR. of N. J.
Of the bonds $192,000 are 5s.
Pres., George F. Baker;
years
Vice-Pres., Robert W. de Forest, and Sec. A Treas., F.
T. Dickarson.—
(V. 72. p. 438.
NEW
YORK NEW HA vcN & HARTFORD RR.—Covers
Southern New
Dngland and the only direct routes between New York and Boston.
Lines owned in Fee—
Wood lawn Jet. N. Y., to
Miles.
Provi¬
dence, R. I
Boston, Mass., to Hopewell
N.Y
173
Haven, Conn.,
field, Mass
Lines
to
Pittsfield,
Miles.
532
Providence and Worcester
Jet.,
179 Norw. A Worcester (which see)
i
New
Leased {part owned)—
Old Colony RR. (which see)
Lines Leased—
to
Other lines
Spring¬
60
Litchfield,
Track to
(V. 88.
Springfield, Ac
758
Total oper. Jan 1 *21(abt. 115 m. has four
New
p.
48
71
109
York City, Ac.
36
53)
1,986
(which see
A 805 m. two tracks)
On April 1 1917 began operating N. Y. Connecting RR.
above).
V. 104, p. 1592; V. 105, p. 2094.
In Oct. 1904 $29,160,000 of the $58,118,982 N. Y. Ont. A West. com.
stock was acquired at $45 per $100 share and $2,200 of the $4,000 pref.
V. 95. p. 481: V. 79. p. 2086. 2642: V. 80. p. 1363; V. 95. p. 1427.
This company and the New York Central each own $2,352,050 of the
majority pref. stock of the Rutland RR.
V. 93, p. 1600, 1788; V. 94, p.
1317; V. 95, p. 1608; V. 101, p. 1974.
'
•
.
v
^
Owns greater part of stock of Central New England Ry. (which see) and
guarantees $13,427,000 gen 4s.
V. 92, p. 1179, 1375, 1436; V. 93, p. 866.
Owns Draotlcally all the stook of the N.Y. Westchester A Boston. 177th
_
_t
St., N. Y. C., and Mt. Vernon, Ac., and guarantees payment of prin.
% 1st M. gold bonds.
See bond offering, Ac.,
of the $19,200,000 4X
p.
346, 866; V. 94, p. 1508, 1627; V. 95, p. 48, 298, 964, 1040,
100, p. 643, 1919. See "Elec. Ry." Section. Valuation, V.
MASSACHUSETTS ACT.—An Act of Mass. Legislature
declared pending decision
Y
do
NEW YORK CONNECTING RR.—Owns 4-track viaduct bridge and
connecting road forming a line 8.96 miles in length from Port Morris, N. Y.„
at Hell Gate to Long Island City (with line to Fresh Pond, 4.32 m.), a
connecting link between the N. Y. N. H. A H. RR. and the Pennsylvania
RR., each of which owns $1,500,000 of the $3,000,000 capital stock.
Opened for passenger service April 1 1917 and for freight service Jan. 17 '18.
Passenger trains run thence direct to Penn. RR. station in N. Y.; freight
trains go to Bay Ridge, Brooklyn, passing by ferry to and from Green¬
ville, N. J.
Y. 104, p. 1045, 1388; V. 106, p. 396.
Of the 1st M. 4X%
($30,000,000 auth.), $24,000,000 have been sold, guaranteed, principal and
int., jointly and severally, by Pennsylvania RR. and N. Y. N. H. A H. RR.
Federal compensation. $850,000 (contract signed).—(V. 110, p. 970.)
V.
not yet
,
do
West, N
J
3X A 4
3H
er.
do
do
text See text
3X g MAN May
5
Q— J
Apr
F
5
A
A Aug
4
MAN May
"a" below
50 Church St, New York
Grand Central Term,NY
earnings of the year K20.
There was also paid on 2d Pref. 2X% May 1
1920 out of the earnings of the year 1919.
Chairman, O. P. Sweringen; Pres., J. J. Bernet; Sec., W. D. Turner;
Treas., L. B. Williams.—(V. 112, p. 2075, 2191.)
REPORT.—For 1920 in V. 112, p. 2075. showed:
„
See
38 miles.
On 2d pref., 2X%
BONDS.—First mtge., abstract,
The stockholders
See text See
dividends in
on
New York and Cleveland
1 1931
There have since been paid, however, on 1st Pref. 5% on July 12 1920, on
2d Pref. 5% Aug. 6 1920 and on Common 5% Jan. 15 1921, all out of the
1792.1981; V. 104, p. 362; V. 109, p. 1793; V. 110, p. 167; V. Ill, p. 2325.
NEW
MAN May
action has been taken
cover
of the system, which
p.
w
17,000,000
6,730,000
1.000.00U
a
do
1 1937
A
A Aug 1 1953
V4 g F
MAN May 1 1940
5 g
See text See
text See text
i'odo ~&c
Ac
do
MAN May 1
O Oct
A
A
1920
1892
55,802,631
1,643,550
1,147,244
6,379,729
500,845
3,796,923
Dividend income
Income from funded securities
Gross
1918
71,308,505
1,830,550
compensation..
Rents, Ac
received
Separately operated properties.
6 c
4 g
f
do
Chase Nat Bk. N Y
New York
1931
Chase Nat Bank, N Y
MAN May 11931
F
&
A Aug 1 '22 to '26 Guaranty Tr Co, N Y
A
A
O Oct 1 *21 to *26 Guaranty Tr Co, N Y
A
J
100
Londes
do
Aug 6 1920 5%
July 12 *20 5%
Text
4 g
3H
—
Federal
Text
See text
8.913,350
15.000.000
27.582.163
38.541.200
400.000
43.026,500
1916
1918.
J*
55,802,631
See text
4
1920
Operations-
1919.
J Jan
A
15.000.000
frcs A $
1908
62
9,991,000
9,997,900
Ac
1,000
100 Ao
Treas. Office, Olevel and.
1st M. 4s and deb, at
Calendar Years—
1,000
500
do
do
1922-1927
New York and
A
J Jan 1922-28
4X g J
See text
Text
Jan 15 1921 5% Cleveland, Ohio
g J
1,000
1905
Payable
are
Guaranty Trust Co, N Y
g J
100 157,117,900
100 NoneApr'21
97-'0l
1904
Where Interest and
Dividends
and Maturity
MAN May 1922
A
J Jan
1 1922-25
5 g
4X
4X
12.000,000
10,000,000
5,000,000
5.000,000
100
Debentures 839.029,600 gold conv
«f Regis, int. on
Ac
1.000
214
xc* Ar
—
convertible
not
loan
8,656.050
1,343,950
1,000
1913
1896
54
refunding
Debentures
Ac
1,000
1917
Debentures
European
Ac
100
1916
1916
mortgage—See text
(85.000,000 are 4s) non convert. .zoAr
Debentures (for F H & W)
(V 78, p 2335)- — ——X
Debentures (for NY0 4W)
(V 80. p 2458) _zc*Ar
and
1,000
4,956,000
10,000,000
550,000
180,000
3,537,000
24,000,000
1.471.900
1906
Places
Dividend
Last
When
Payable
a
50
50
505
$45,000,000 call 110
Pref. a&d stock 7% cum
First
1,000
500 Ac
1,000
1.000
1887
1918
505
text)
New York New Haven & Hartford—Stock (see
Rate
Amount
Road
RAILROAD COMPANIES
[For abbreviations, &c.t see notes on page
New
[VOL. 112.
RAILWAY STOCKS AND BONDS
94
A int,
V. 93;
1208; 1740
112, p. 62.
duly adopted
(1) grants authority to retain possession of
the sale of the Rutland RR. stock within five
years (unless the time be extended); (2) makes numerous stipulations as to
how sundry branch line securities shall be treated in the accounts, and
(3) limits dividend on common stock to 5% p. a., until various conditions
are complied with.
V. 104, p. 2010.
by directors on May 8 1917,
14 subsidiaries, but requires
May, 1921.]
RAILWAY
RAILROAD
COMPANIES.
&c., see notes on page 6]
[For abbreviations,
Date
Par
Amount
Rate
When
Road
Last
Bonds
Dividend
Value
Outstanding
%
Payable
and
Maturity
87
363
$1,000
1895
1,000
1.000
$2,839,000
17.500,000 4
1,500.000
"28
1892
1,000
1885
1905
1904
1,000
1.000'Ac
1904
1.000Ac
z
1902
__x
""i~6od
1906
1906
1,000Ac
"'i ;66o
(?)
ser
ser
do
ser
BB due $123 & $122,000 s-a.CP
OO due $65,000 s-a
DD due $171,000 s
1918
Govt No 53, due $287,100 yearly..
1920
Leading Proprietary. &c.. Lines (V 103. d. 1604)
Boston RR Holding Co—Boston Term Co—Central New
Engla
New York Connecting RR and Old Colony—See th ose co
mpanl
1.000
N Y Wes A Bos 1st M $60,000,000 g red 1100 xo* Ar*
New England Navigation Co debentures gold
x
do
do
do
A.
cos 4%
cum
which
had
been
reached
with
on
the
for
a
$
A £
8ee
1905
100
an agree¬
surrender
to
inde¬
Rhode Island trolleys were placed in the hands of trustees—five for each
8tate—and ordered sold by July 1 1922 (as
extended).
The Rhode Island,
trolley properties were disposed of during 1920. V. 99, p. 1452; V.
108
p. 683, 1275; V. 110, p. 1188, 1291; V. 112, p. 1618.
(3) The majority stock of the Merchants' A Mluers' Transportation Co
held by the New Haven RR., which has been sold
V. 98. p. 1320, 1396
(4) The minority stock of the Eastern Steamship Corporation, held
by
the New Haven RR shall be sold by July 1 1921 (as extended in
1919), and
In the meantime shall be deprived of voting
power.
Reorganization plan
to 1916. V. 103, p. 846. 1601V. 99. p. 1369 1454; V. 106. p 1345.
(5) Whether the Long Island Sound steamboat lines
may he retained
will be determined by I.-S. C. Comm.
V. 103. p. 1981; V. 105. p. 2184.
V. 107, p. 906.
(6) The Berkshire trolleys shall be sold by July 1 1921.
V. 108, p. 1275.
(7) Tne stocks of companies owning or controlling street railways In
N. Y. shall be sold by July 1 1921.
V.89,p. 1000, 1072, 1157. 1239. 1245
V. 99. p. 467, 270. 198. 120, 1131. 1221: V. 100.
p. 642.
The trustees of the stocks of the New Haven
subsidiary lines In the Govt,
dissolution suit on May 18 petitioned the U. S. District Court to
Keport or inter-State Commerce Commission July 1914, V, 99,
p
270
Suits against former directors. V. 99
p. 198, 270. 407. 538. 1367\ 1052
V. 102, p. 345. 251, 134; V. 103.
p. 844: V. 104. p. 1592, 1801: V. 108. p
683, 879, 2123.
Limited receivership denied, V. 110, p. 2292.
Leaseof
City, V. 110, p. 2292.
on April 20 1921 authorized the directors and officers to
acquire the property of the following
corporations or any of them, or to
merge or consolidate any or all of them with this company:
(a) Central New
England Ry.; (6) Harlem River A Port Chester RR.; (c) New England 8S.
Co.; (d) Hartford A New York Transportation Co.; (e) New Bedford Mar¬
tha's Vineyard & Nantucket Steamboat Co.
real estate in N. Y.
The stockholders
STOCK.—Common
stock, authorized issue unlimited.
Pref. stock,
authorized, $45,000,000 7% cumulative.
The plan to sell a block of this
stock in order to take up the collateral notes
($43,964,000) was withdrawn
In March 1918 when the Gov't loan below mentioned was
granted.
V. 105.
p. 1413, 1420. 1708. 1820; V. 106, p. 1127, 1131. 1231, 1345.
Per
cent
GOVERNMENT
LOANS.—On
1895 to 1912
8
9
1913
5
None
27 1918 the Director-General
agreed to advance to the company, for the purpose of protecting its matur¬
ing notes, $43,964,000 due as extended April 15 1920 at 6% Int., with the
right of renewal to the company for 1 year more on the same terms.
The note was reduced by payment on account from
$43,964,000 to $43,026,500.
The note was refunded by deposit with the Secretary of the
Treasury of $70,620,000 1st A ref. M. Series A 6% bonds, due Oct. 31 1930,
part of which were deposited as collateral security for a loan of $17,000,000
received during 1920.
Additional notes payable to the U. S. Govt.. amount¬
ing to $9,630,000, will be secured by deposit of Series "B" bonds.
BONDS.—The company has executed and delivered to the Bankers
Trust Co., trustee, its 1st A Ref. M. dated Dec. 9 1920.
This is an open
mortgage under which all pre-existing obligations are equally secured with
the $95,000,000 bonds authorized to be issued to the U. S. Government.
The aggregate principal amount of bonds which at any time
be issued
and outstanding is limited to an amount
which, together with all other then
outstanding bonds, notes and other evidences of indebtedness, shall not ex¬
ceed twice the amount of the then
outstanding stock (now $157,117,900),
plus premiums paid in thereon (to date $19,282,887 50), which at the present
time would limit the amount to $352,801,575.
A total of not more than $95,000,000 of new bonds is
authorized, to be
presently issued, of which not exceeding $80,000,000 Series A 6s, dated
Nov. 1 1920 and due Oct. 31 1930, are authorized to refund co.'s indebted¬
ness
to TJ.
S. Govt, incurred
during period of Federal control; and not
ex¬
ceeding $15,000,000 Series B 6s, due Oct. 31
1935, are authorized to be
S. for loans that may be made to the co. for
equipment and betterments (as of Dec. 31 1920 a total of $80,845,000 had
been issued and were owned by
co., $78,539,000
issued for security to the U.
000
being pledged and $2,306,-
unpledged).
to the
principal amount of $180,274,000
Bonds
debentures and underlying mortgage bonds.
2041,
Ill, p. 2423,
1942.
Harlem River A Portchester Div. 4s of
1904, V. 85, p. 1143.
Debenture certfs. of 1906, V. 81, p. 976, 1039, 1493; V.84, p. 103, 694.
In Feb
1907 145,000,000 Iranos ^$29,000,000) 4% 15-year debentures
with a fixed rate In marks and £ were sold.
V. 84, p. 391, 450, 508. 804,
931.
The dollar bonds are issued In exchange for the foregoing bonds
$ for $1and are to be secured by any future mortgage on the main line be¬
Providence, and also Springfield, 235 miles,
rata with any other bonds secured thereby.
V. 103, p. 759.
The
stockholders on April 20 1921 voted to refund the
European loan of 1907,
maturing April 1 1922.
Providence Terminal Co. bonds ($7,500,000 auth.),
see V. 82. p. 929. 629, 693, 1213, 1323; V.
83. p. 96, 819.
The $39,029,900 6% debentures are convertible into stock after Jan. 15
1923 at par, and are to be secured by
any mtge. hereafter created, covering
tween Woodlawn, N. Y.. and
pro
the main lines between
New Haven. Conn., and
Woodlawn, N. Y. City, and Springfield, Mass.. or
Providence, R.I. V. 85, p. 1270,1339,1402,1647.
do
A
T
do
Haven, Conn
Second Nat Bk. N Haven
do
do
Equitable Trust Co. N Y
Apr 1922-1929
Farm Loan A TrOo, N Y
N Nov '21-Nov '24 Phila Tr S D A
Ins Co
D Dec '21-Dec '25 Phila
Commercial Trust
Sept'21-Sept '26
M & N15 Nov '21-MV '28 Commercial
Tr
J
&
J To Jan 15 1935
6
Co.. Phila
Guaranty Trust Co, N Y
mpanies
text
4H
g J
i'
J
A
J July 1 1946
13 1955
J Jan
1 1955,
4
J
A
J Jan 1921
A
M
New York A London
AM 13 Nov
2%
The $700,000 5% debentures for New Haven station are to
be secured by
future mortgage.
V. 103, p. 1302, 1119, 1593; V. 106, p. 1675.
In April 1918 $3,141,000 of the
$19,899,000 30-year 4% debentures of
the Providence Securities Co. had been
acquired by the N. Y. N. H. A
H. RR., which had assumed the
issue, and its shareholders voted April
1917 to authorize not
exceeding $16,758,000 4% debentures due In May
1957, to be exchanged $ for $ for the rest
V 106, p
1577, 1689; V 110,
p
2488, 2658
®ny
Equip, notes, V. 100, p. 1560, 1676; V. 98, p. 913; V. 99, p. 1367, 1452,
1911; V. 105, p. 1708, 910; V. 103. p. 119, 1601.
In June 1918 a new
$3,420,000 Issue, series DD. at 6% Interest, was sold.
V. 106, p. 2560.
The I-S
Issue and
O
Commission
on
Oct
16
1920 authorized
the company to
pledge $3,500,000 equipment trust notes, Series EE (Ola Colony
Trust Co , trustee), $2,800,000 thereof to be
7% "Class A" notes ($2,000,000
of these to be pledged to secure
$2,000,000 promissory notes) and $700,000
to be 6% "Cla&s B" [second lien
notes]
These "Class B" notes and the
remaining $800,000 "class A" notes to be turned over to the U, S.
Treasury
in return for a loan of
$5,000,000 under terms of Transportation Act of
1920.
The $2,800,000 "Class A" notes are in denom. of
$1,000, due serially 1921
to 1935.
The $700,000 "Class B" notes are in denom. of
$100,000, are
due each Oct. 1 1921 to 1927, inclusive.
V. Ill, p. 1567.
Of the $21,390,000 N. Y. Westchester A Boston 1st
4)£s, this company
$2,190,000 on Dec. 31 1920.
See "Electric Ry. Section."
owned
Outstanding Consolidated Ry. Co. Debentures Assumed (see "Elec. Ry. 8ec.").
4% 1904 ...$4,255,000 July 1 1954 4% 1906
$2,011,000 Jan. 1 1956
4% 1905
2.309,000
Jan. 1 1955 3-3)4-4%'05
972.000
Feb. 11930
__
...
4% 1905
1.340.000
...
Apr. 1 1955
Outstanding Street Railway Bonds Assumed
(AH 5 per cents except as shown.
W. AO. E. 4^s $1,992,000
N. H. A Cent...
283,000
Mer.
'43
Sept. *33
415,000 Jan. '24
350.000 Oct. *23
Horse
Norwich
Jan.
St.
Hart. M. A Rock.
New Lon. St.Ry
200.000
Oct.
150,000 Oct.
Equipment trusts issued
of Dec. 31 1920.
4% debs
Greenw. Tram
Branford Elec
'24
Mer.So.AComp.
'23
Staff. 8p. St
165,000
320,000
63,000
175,000
400.000
Director-General for rolling
See article on page 3.
to this company.
to
Federal Compensation.- -$17,095,884
EARNINGS.—
Gross
Net after taxes
as
See page 77, "Elec. Ry.
Section").
Hartf. St. 4s...$2.500,000 Sept. *30
*30
'31
*37
'28
•60
Jan.
July
Oct.
July
July
stock allocated
,
yearly during Federal control.
—Jan. 1—Mar. 31
1921.
1920.
Jan. 1—Dec. 31—
1920.
1919.
..$26,645,787 $26,279,909$125,447,048$106,545,119
def3,002,440defl,888,062def4,006,319 10,273,265
REPORT.—For 1920, in V. 112, p.
1610, showed:
Operating Account for Calendar Years.
\
*■;
(From Jan. 1 1918 to Mar. 1 1920 operated by U. S. RR. Administration.)
1920.
1919.
1918.
1917.
Average miles operated1,972
1,966
1,992
1,995
Oper. revenues— Freight$55,348,918 $49,236,963 $50,721,288 $40,395,999
Passenger-...
52,270,794
44,774,218
39,379,917
34,427,801
Mail, express, Ac
15,892,597
12,533,939
12,193,007
10,961,093
Total oper.
revenues.$123,512,3101106,545,120$102,294,212 $85,784,893
Net earnings—
Tax accruals
def$2,834,073 $14,071,738 $14,547,689 $23,814,833
4,500,174
3,770,657
3,216,376
3,336,980
15,687
27,816
15,991
5,996
Uncollectibles
Operating income..def$7,349,935 $10,273,265 $11,315,322 $20,471,857
Income
Account for
Year
1920,
Compared with
Year '1919.
1920.
Railway operating income
Other
income
def$7,349,935
7,926,145
Gross income
Inc.
or
Dec.
—$78,625
$576,210 —$17,036,623
Deductions from Gross Income—
Rent and hire of equipment
Joint facility rents
Rents for
leased
roads
—
Separately operated properti&s—
Boston Railroad Holding Co. guaranty
N. Y. W. A B. Ry. Co. guaranty (bond int.).
New York Connecting RR. Co. guaranty
Springfield Ry. Co.'s guaranteed dividends..
Interest
Interest
on
on
funded debt
unfunded debt
Miscellaneous
are reserved to refund all
For further details, including
list of obligations secured under this
mortgage, compare V.
&
since
March
may
M
J
O
MAS
3.387.900
extend
the time for the final sale of tn" stocks of the
subsidiary lines until Oct. *22.
—(V. 110, p. 2193.)
1894
&
4X
675.000
Boston A Maine stock before (as extended) Oct. 1 1921.
V. 107, p. 1482.
1802.
See V. 103, p. 166; V. 99. p. 1221.
See Boston A Maine.
(2) The stocks of the companies which control the Connecticut and
11873-1893.
{ 10 yearly
co
A
do
New
MAN May 1 1957
Various 1923 to 1956
¥■
6 g
3.600.000
pendent control of certain parts of the system so as to prevent a suit under
the anti-trust law as follows:
(1) The Boston RR. Holding Co. stock own
ing 52% of the Btock of the Boston A Maine RR. has been transferred tc
6 trustees, viz.; Marcus P. Knowlton and James L.
Doherty of Springfield
Mass.; James L. Richards and Charles P. Hall of Boston, and Frank P
Carpenter of Manchester, N. H., and, after arrangements have been made
to protect the minority stock of the holding
company, they shall sell ihe
DIVIDENDS.—
do
Lincoln Nat Bank, N Y
Second Nat Bk. N Raven
do
do
es
1911
Apr. 21 1914 approved
Govt,
See those
Ry¬
pref stock red 105 guar.
SEGREGATION.—The stockholders
ment
nd
4. 4
1,328,000
339,500
1,102,500
715,000
2,394.000
4,019,400
1.000
do
Bands of
Springfield Ry
i
I
and
Payable
Second Nat Bk, NewHav
MAN May 1 1954
A
A
O Oct
1 1930
F
A
A Aug 1 1955
A
&
O Apr 1 1925
J
A
D June 1 1956
MAS Mch 1 1956
3§
See text
1.000
1915
1916
CP
CPc*
a
J July 1 1922
See text
—
"Electric Ry. Sectlo n"p.72
Equipment trusts, due $166 000 yearly
F
1914
do
ser AA due$48or $49.000s-a.PhPc*
1914
do
iS
are
Farmers' L A Tr Co, N Y
Safe Dep A Tr Co,Boston
Coup, office; reg, mailed
Lincoln Nat Bank, N Y
O Apr 1 1925
J
A
D June 1 1955
MAN May 1 1954
16,758.000
1900
See text below 9c
do
A
3.777.000
160.000
2,400.000
4.000,000
1907
Consolidated Ry debentures
Providence Secur Co debs g gu red 105 beg 1917_xc*
A
A
4 g
234,000
1905
5.60
J
5
Where Interest
Dividends
MAN Nov 1 1937
A
J July 1 1945
A
A
O Apr 1 1939
5 g
2.500.000
61
12
N H & Northampton ref M $10,000,000 guar p A l.x
Providence Term 1st M $7,500,000 g assum._xc*Ar
'
4
150,000
350.000
15.000.000
36
xc*Ar
5 g
Places
g A 5 g J
750,000
36
Naugatuot first mortgage gold assumed
-
1887
1889
Gen mtge Danbury, Conn, to Wilson Pt, Ao.zc*
First ref mtge V 82, p 210) gold assumed.xo*&r
Harlem R A Port 1st M gold $15,000.000-Us.xo*Ar
Bds of eleo roads.
95
Miles
•iw York New Haven & Hartford (Concluded)—
Housatonlc con M ($3,000,000) g (assumed) _F zc*
N Eng cons (now 1st) M $17,500,000 5s g gu_Ba.zo*
N Y & N E Boston Term 1st M $1,500.000-AB.zo&r
Providence & Springfield 1st M gold assumed—zc*
Dan bury A Norwalk—
Debentures
Boston & N Y Air Line 1st M $5,000,000 (assum)
Pawtuxet Valley 1st M
STOCKS AND BONDS
Total deductions from gros
income
Net income, excluding Govt, guarantees
Less Government guarantees (see note)..
Net
corporate income
$2,989,484
3,897,528
5,842,017
+$1,836,037
+263,780
—2,701
112,000
864,000
137,121
""+'137", 121
67,758
10,341,382
3,184,001
550,944
—67,758
+706,027
—461,643
+58,767
—10,235
$27,996,234
+$2,459,394
def$27,420,024 —$19,496,017
22,798,519
+15,751,572
def$4,621,506
—$3,744,445
The income account, down to and including "net income, excluding
Government guarantees," reflects, as nearly as possible, the operations
of the company as they would have been shown if there had been no
Government guarantees during the year.
Note.—Government guarantees include: Deficit in U. S. Railroad Ad¬
operations, months of January and February; lap-overs
from March^ 1 to Dec. 51 applying to Federal control period;
guaranteed standard return due from Director-General for January and
February; also amounts charged Government under Transportation Act
applicable to guaranty period operations March 1 to Aug. 31, inclusive, as
ministration
audited
shown
on books as of Dec. 31.
Income statements for calendar years:
Miles
Refunding (first) mtge 120,000,000 gold—Ba.xo* Ar
Gen M $12,000,000 gold red 110 (see text) — Nxc* Ai
Equip notes
Ser Cf $30,000 e-a (V 96,p 420 — Ba*
Equipment notes Series "D" due $35,000 s-a
New York St Ottawa—See N Y Central RR.
lew York Phlla & Norfolk—Stook,$4,000,000
Par
Amount
Rate
When
Value
Outstanding
%
Payable
and Maturity
1892
1905
1913
1916
1,000
1899
1899
1,000
—
1887
1,000
1,000
1,000
112
FPx
1.000
Equipment trust obligations
Kew York St Putnam—See New York Central RR.
■ Y & Rockaway Beach—1st M $1,000,000 g gu.Ce.o*
Seoond mtge income bonds non-cumulative.—Ce.xr
11
11
9.38
72
SY Short Line—1st M $1,500,000 g M gpextl.PeP-kvc*
Y Sus & West—Midland RR 1st gu
A '10-Ce.xc*
Paterson ExtenRR 1st M ext In 1910 at 5%
1
sf g-xo*
127
Ce.sc*
rn.Ce.tc*
New York Susq A Western first M ref g
Seoond M ($1,000,000 gold) 3d M on 72
127
127
General mortgage for $3,000,000 gold
Ce.xc*
Terminal first mtge for $2,000,000 gold. — Usx.o* Ar
Wilkes-B & E'n 1st M g gu p & 1 (V 60. p 481) -d.xe*
"65
Equipment notes series A due $40,000 semi-ann—x
do
do
B due $22.000 semi-ann
—
do
do
C due $28,000-$27.000 semi-ann guar
Allied Companies—
3
Passalo & N Y 1st M (999 years rental) ext 1910—x
& San
Naw York Texas & Mexico—See Galveston Harrisburg
4
Newark & Bloomfleld—Stock, 6% rental
-
NEW
HAVEN
'
600
70,000
60
1.600,000
1,000
1,000
600 Ac
175,000
250,000
146.500
10.04
4.6
1902
1898
1905
6,484,745
$
A
A
O Oct
MAN30 Nov30 1920 6% Checks mailed
Broad Street Station
A
J Jan
1 1939
Checks mailed
1 1939
J
Treasurer Penn RR, N Y
1 1927
MAS Sept
guar..
310,278
554,820
84,255
302,883
War taxes
St Station. Phila
Broa„
5 In 1919 Sept 1 1927
F
A
A Feb 1 1955
Reading Terminal, Phila
60 Churoh Street
do
do
do
do
do
do
Offioe.
A
June 1 1950
A
Jan
1 1937
A
Feb
1 1937
A
Aug 1 1940
May 1 1943
do
do
A
do
A
i8
6 g
Apr
A
4«
5 g
June 1 1942
do
do
do
1 1940
Commercial Tr Co. Phila
Aug 1921
MAN Nov '21 -May'23 Phila Tr 8 D A Ins Co
A
J J'ly'2lto J'ly'26 Phila Trust Oo, Phila
4H gJ
40,000
A
4*
5 g
84.000
302,000
SJ
A
D Dec
A
A
O
V
F
A
F
A
4 g
A
A
6
Offioe, 60 Churoh St, N Y
1 1940
3%
Apr 11921
p.1038.
Aug 1 1922
Feb 1 1938
Oct 1 1935
90
St,
West
New
York
Bankers Trust Co, N
Fidelity Trust Co,
Glrard Trust Co.
•
To be 4-tracked—2 tracks laid at present
Y
Phila
Phila
and on 1.73 miles
iTotal deduc's.21.338,134 20,614,892
Co.. guar..
122,235
122,235 Net income... 2,397.460 2,043,525
OFFICERS.—Pres., E. J. Pearson; V.-P. & Gen. Counsel, E. G. Buckland ; V .-P., B. Campbell, A. P. Russell; Sec., Arthur E. Clark; Treas., A. S.
V. 87. p. 1421.)
WESTERN RR.—(.See Erie Map.)
Wilkesharre A Eastern
— 65
Jersey City to Stroudsburg, Pa— 99 Susquehanna Connecting RR—_
8
(Double track 19 miles.)
Other branches
——
25
NEW YORK SUSQUEHANNA &
Owned (in fee) or entire stock. Miles.
Beaver Lake, N. J., to Unlonville.
307,061,
303,884
Sept'21-Mar '28 Bankers Trust Co, N Y
do
do
'21-Apr *23
MAS
principal and Interest.—(V. 84, p. 1552;
N. Y. W. A B.
6,020,712 Misc. expenses
5,854,717
A
rents
tax accruals.
D June 1
3 tracks.
Leased to Phila. A Reading Ry. for 999 years from Feb. 1 1907
The $250,000 stock Is owned by Reading Co., which guarantee? the bonds,
1918.
$
Ry.,
3,745,000
447.000
2,552,000
2.000,000
3.000,000
V 79,
1919.
864.000
864,000
Springf.Ry div
135,516
135,516
income.23,735,594 22,658,418 Bond, Ac., int.13,200,080 12,770,835
L's'd road rents
Misc.
1885
A
Anton io
HARTFORD (Concluded)-
17,095,884
5,562,533
Stand'd return17,250,849
Other income.
Gross
A
t8
f 8
t 8
6 g
3,488.500
200,000
Ac
1,000
1,000
1,000
1,000
1.000 Ac
1,000
1,000
1,000
1,000
Apr 12 1920.1% Checks mailed
Offioe, Gr Cent Ter, N Y
do
do
1955
MAS June 1 1992
J
MAN Jan
984.000
5g
980,000 Up to 5
1,600.000
1880
1881
1887
1887
1890
1893
1892
1911
1913
1916
Text
1918.
$
1919.
$
600
4g
Dividends are Payable
ville
Newport A Cincinnati Bridge—See Louisville A Nash
Niagara Junction Ry—First M $650,000 gold.Ba.xc*
Norfolk & Portsmouth Belt Line—First mtge—FPx
Ells Riv 1st M g gu p A i s f red 105 since '11-OP.xc*
Norfolk & Carolina—See Atlantio Coast Line RR
YORK
1887
1905
12
2,500,000
2.600,000
658.000
300.000
50
112
-FP.io*
First mtge $3,000,000 g (V 68, p 773, 978)
Inoome mtge g non-cum regis (V 68, p 978)
$100 $58,113,983 1 in 1920
4 g
20.000.000
4 g
8.630.000
1,000
420,000
4H
1,000
t
140,000
1.000
4H
Where Interest and
Places
Last Dividend
Bonds
Text
New York &
orthern—See N Y Cent RK.
■•w York Ontario & Western—Common stock
Date
Road
RAILROAD COMPANIES
[For abbreviations, &c., see notes on page 6]
NEW
[VOL. 112.
BONDS
RAILWAY STOCKS AND
96
Total
road
operated
20 Trackage
December 31
STOCK.—Pref.,
$12,962,392;
com.,
4
— —
221
1920
Boston RR.H.
$12,810,941,
of
whtch the Erie
owned Nov. 30 1920, $25,622,300 com. and pref.—of this, $6,630,000 com.
and $6,630,000 pref. being deposited under its mortgages.
Dividends on
May; Comp., H. S. Palmer.
pref., Nov. 1891 to 1892, 2H% yearly; none since.
Directors.—Howard Elliott, N. Y.; James L. Richards and Jos. B. Rus¬
sell. of Boston: John T. Pratt and J. Horace Harding, N. Y. City; T. De
p.
Hadley, New Haven; W. B. Lashar, Bridge¬
port; Francis T. Maxwell, Rockville, Conn.: Edward Milligan, Hartford,
Conn.; Frank W. Matteson, Providence, R. I.; Harris Whittemore, Naugatuck, Conn.; Edw. G. Buckland, Benjamin Campbell and Edward J
Pearson, New Haven.~-(V, 112, p. 1144, 1519, 1610, 1618, 1741, 1978.)
Witt Ouyler, Phila.; Arthur T.
NEW YORK
ONTARIO
&
WEST.
RY.—Operates
from Weehawken
569 miles, viz.:
opposite N, Y. City, to Oswego, on Lake Ontario, in all
Miles.
Road Owned—
272
Oswego to Cornwall, N. Y
branch to Now Berlin
do
'
to Delhi
do
to Ellenvllle, etc
22
17
Total
9
—
320
owned
Trackage (till 2079) W.Shore RR.
O'nwall to W'ken (V.01.P.425).
Other trackage
53
3
Road Controlled, Ac.—
*
Miles.
Pecksport, Conn, (leased)
4
Ont. Carb. A S. (leased) Cadosla,
N. Y., to Scranton, Pa, Ac
73
Rome A Clinton (leased)
—*13
Utlca Clinton A Blng. (leased) —*31
Wharton Valley (owned)
...
7
Ellenvllle A Kingston (leased)
28
Port Jervls Mont. A Summltville
(owned and leased)
—_
38
stock at $45 per
com.
v. 79. p. 2086. 2643;
A H. RR. acquired $29,160,000
share and $2,200 of the $4,000 pref.
v. 95, p. 481,
v. 80. p. 1363. 2458; V. 81. p. 1044; V. 97. p. 1427.
STOOK —There Is $4,000 old
preferred
Federal Compensation.—$2,103,589 yearly
v. 79. d. 977. 980. 1332.
during Federal control.
COAL
PROPERTIES—'•OTHER
INCOME."—In
1899-1900
coal
properties having then a maximum output capacity of 2.700,000 tons
annually, were brought under friendly control with aid of loans from the
Railway Co. and are now owned by the Scranton Coal Co. and the Elk
Hill Coal A Iron Co., the Railway Co. owning the stock of both companies.
The $6,000,000 5% 1st mtge. notes Issued by the railway to enable these
coal companies to acquire the aforesaid properties were all paid off on or
before Dec. 1915, and on Dec. 31 1917 the railway held as first Hens on
said properties former 2d mtges. for $1,153,000 and $2,400,000, respec¬
tively.
Unpaid Interest due the railway in these mortgages aggregated
$837,500 to June 30 1912, and continued to accumulate without payment of
the amounts accruing until 1917, when the railway received $637,500 on
account of same, permitting It to pay said 2% dividends on Its stock Jan. 14
1918.
Similar receipts quite Independent of the operation of the road by
the Government are expected in the future.
See V. 106. p. 1677
D1VS:
J *05. *06 to "11. *12. "13. *14-15 '16. 1917.
1918
1919. 1920
Oncom%\4H 2% yearly.
0
2 None
1% None Jan2%Augl%Aprl%
BONDS, AO.—Refunding mtge. for $20,000,000 covers 319 miles of road
owned, all the securities of the Ont. Carb. A Scran. Ry., 54 miles, and all
after-acquired property.
V. 72, p. 87; V. 78, p. 2012; V. 80, p. 661.
As
to the $12,000,000 Gen. M. 4s of 1904 see V. 79, p. 1332, 1432; V. 92
p. 462; V. 94, p. 1508; V. 96. p. 420, 653.
Jan. 1—Mar. 31
Jan. 1—Dec. 31
EARNINGS.—
1921.
1920.
1920.
1919.
Gross.
$2,982,040
$2,432,720 $12,924,934 $10,909,515
136,062
775,523
Net after taxes
"def48J53
def289;691
REPORT.—For 1920 in V. 112, p. 1618.
1917.
Year ending Dec. 31—
1920.
1919.
1918.
$9,164,878
Gross earnings—_
$13,154,689 $10,910,027 $10,895,005
2,228,120
Net, after taxes.
110,713
666,445
621,908
Standard
return
Other income
Interest
on
funded debt.
*1,502,500
876,315
1,176,430
Misc. interest & discount
Rentals,
Exp.appl. to prior period
33,294
210
2,103,589
208,591
12,371
207,304
91,955
sur.
or
(2)1,162,144
def..sur$224,607 sur$319,397 sur$713,408 def$184,887
2 mos., $350,598; payment (est.) on account 6
$355,952.
Office, Grand
guaranty, $795,950; net railway oper. inc., 10 mos.,
Pres., John B. Kerr; Sec.-Treas., Richard D. Rickard.
Central Terminal, New York.—(V. 112, p. 1618.)
NEW YORK & ROCKAWAY BEACH RY.—Owns Glendale Jet. to
Rockaway Park, 10.31 m., with branches, 2.05 m.; total, 12.36 m.; doubleStock, $1,000,000; par, $100. Leased 50 years from July 1 1904 by
Long Island RR. Co., which owns $972,200 stock, whose endorsement is
track.
Erinted on togetherbonds.theOn Jan. 1 incomes. V. 83, p. 890. Dividends
1.1. RR., 1st M.
with
$978,000 1916 $101,000 firsts were owned by
stock and incomes, 5% each, paid in 1914, 1915 and 1916;
1919,5% on incomes, but nil on stock.
Cal. year 1919, rental
627; other income, $12,393; deductions, $112,333; bal., sur..
(V. 100, p. 1079; V. 102, P. 1540.)
on
NEW
between
in 1917 to
due, $116,$16.687.—
YORK SHORT LINE RR.—Owns a cut-ofl for the Reading Oo.
Cheltenham and Neshaininy Falls, 9.38 miles, opened May 1906.
290,323
60,201
$1,076,710
811,923
39,795
$999,280
820,848
167,750
funded debt
;
$184,766
$224,993
$10,682|
NIAGARA JUNCTION RY.—A terminal and switching road extending
from Niagara Falls, N. Y., to Pfletchers Corners, N. Y., 4.86 miles; factory
sidings. 9.16 miles.
Electrically operated since Sept. 1 1913.
V. 97, p.
1837.
Stock, $160,000 com. and $134,500 8% cum. pref. ($5,500 more
pref. in treasury). all owned by Niagara Falls Power Co.
Calendar -ear 1920, gross, $207,356; net, $57,702; deductions, $17,938;
net income, $39,764.
Pres., Paul A. Schoellkopf; Sec., Fred'k L. Lovelace;
Treas., W. Paxton Little.
NORFOLK & PORTSMOUTH
BELT LINE RR.—See page 141.
NORFOLK SOUTHERN RR.—Operated Dec. 311920 944,193 miles
extending from Norfolk. Va., to Raleigh, Goldsboro and Beaufort and the
Piedmont section, N. C., with branches.
Of this total, the company owns
792,407 miles and leases 145,519 miles (from Goldsboro to Morehead City),
and has trackage rights on6.27 miles.
Owns entire tLp. itock and bonds of John L. Roper Lumber Co., owning
over 600.000 acres of timber lands and 200.000 acres of timber rights.
V. 87.
p. 1415. The John L. Roper Oo. owns entire stock ($175,000) of Carolina
RR., Snow Hill to Pink Hill. N. O., 35 miles.
V. 95. p. 1684: V. 96. p. 863.
Acquired the Durham A South Carolina RR. in 1920. V. 110, p. 2292.
As to Cumnock Coal Mining Co.. an ally, see V. 106, p. 607, 822.
ORGANIZATION.—Successor May 5 1910 to N." A S Railway, foreclosed
7 1909 per plan V. 87
p. 614
*78
Tncorp In Virginia Mav 2 1910.
Of
Government
fixes
the
Compensation.—The Federal contract, signed in
compensation at $1,280,000.
Dec. 1919,
company's annual
Williams, V.-Pres., represent"
ing Amer. Tobacco Coj interests, purchased an option for one year on a
majority of the $16,000,000 capita stock at $47 per share. V. 110, p. 2388.
CAPITAL STOCK.—In May 1920 Ernest
BONDS.—Of the "First & Ref." $35,000,000 bonds,
to retire a like amount of underlying bonds.
$3,981,000
werf
To Jan. 1 1921
$1,070,000, held for company by Central Union
Trust Co., $2,039,000; held by public. $12,355,000; as collateral for 3-year
notes of 1917 pledged, $1,577,000
V. 107, p. 604.
These bonds are secured by a first mortgage on 334 miles, and, subject
to underlying Issues aggregating $3,805,000, on 455 additional miles, and
also by a first lien on practically the entire equipment, valued at about $2,720.625; also by a 1st lien on the entire stock ($1,000,000) and 1st M. bonds
($5,000,000) of the John L. Roper Lumber Co., owning 10 planing, saw and
shingle and oedar mills, with an annual capacity of 150.000,000 ft.u board
measure;
and
140 miles of standard-gauge
logging road, 300 logging
oars, 25 locomotives,
Ac.
The value of the Roper lumber property has
been estimated at $12,785,000.
Sinking fund $100,000 vearly, as long as
the lumber compauy bonds are pledged, at least one-half for purchase or
redemption of bonds of this Issue, and the balance. If any, for construction,
Imnts., Ac.
V. 93. p. 1534: V 96. p. 487: V. 97, p. 1204; V. 98. p. 523.
The 3-year notes
of 1917, $1,000,000 auth., are secured by pledge
with trustee of $1,577,000 First A Ref. Mtge. 5s. due 1961.
V. 104, p.
1264, 1388, 1801.
These notes were extended to April 1 1922 at 7%
interest (former rate 6%).
Principal and interest accrued upon the notes
shall be paid by the company April 1 1921 if 50% of all notes so extended
retired by sinking fund,
210
210
$4,151,146
708,957
999,942
76,769
$1,049,465
804,498
Other deductions
Balance, surplus
—(V. Ill, p. 190.)
$4,955,180
398,023
reserved
92,727
....
on
1917.
1918.
49,523
Other income
Interest
Dec. 31:
1919.
$4,330,437
def.232,211
999,942
Operating income
Compensation receivable
"272",826
Includes Fed'l comp.,
mos.
REPORT.—For fiscal year ending
Calendar Years—
Gross operating revenues..
1,145,200
77,179
301,101
" 1,194,205
210
(1)581,073
dividends
Balance,
*
49,449
dividends..„(1%)581,073
Preferred
Common
13,054
303,686
30,306
&c
Miscellaneous
2,103,589
379,053
1,185,115
14,852
211,733
136,968
See abstract, V. 52.
The seconds are exchangeable for generals on payment of an assess't.
1898 and abstract, V. 57, p. 512.
The $3,500,000 Midland RR. 6s were extended 30 years from 1910 at 5%
and $200,000 Paterson Ext. 5s 40 years at same rate.
V. 90. p. 373. 91.
Equipment notes, 1916, V. 103, p. 61.
Loans and Dills payable Dec.
31 1919, $145,000.
Federal Compensation.—$999,942 yearly during Federal control.
Jan. 1 -Mar. 31
Jan. 1 -Dec. 31
EARNINGS.—
1921.
1920.
1920.
1919.
Gross
$1,041,999
$1,002,006
$4,450,111
$3,915,640
Net after taxes
def178,833
def376,731 def1.082.657
def281,614
84.
Terminal bonds, see Issue of Jan.
Gross income
•
See this company.
CONTROL.-—In Oct. 1904 N. Y. N. H.
BONDS.—General 5s are reserved to retire 2d 4 J4s.
so
P
reediest in writing not less than 60 days prior to April 1 1921.—V 110.
Atlantic
A North Carolina $325,000 guar,
bonds of 1917, see that co
Equipment trust 6s. Series B. due on or before 1926, $13,000 (Dec. 31 1920 )
Equipment trusts $123,200 issued to Director-General for rolling stock
allocated to this company.
See article on page 3
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^*£3^
WkerC
Cadi*
McEwen0,
o°^X
_
'
^nCtty
%f.
Buffalo °
\
HU«T,s«ton
'•.1,1*
Gillette
-Hill*
R.
•'Weiser
\Washoe
New Castlts
Idaho City
PJmond
Cald^
'iPerilf
Pocky Bar
MAP
OP
THE
Wemyi
^est Pork
.
cb
NORTHERN PACIFIC RAILWAY
ILat^^y
\2=a>^/
:»o«>11IecAAi
o%k>V*°lath
(WESTERN
,<
|*ifcY3ow
SECTION)
i
100
RAILWAY
see
notes on page
6]
Norfolk Southern—Stook |1(},000,000 aut&orlzea
First mortgage......
Mp.xc*
First General mortgage gold redeemable at 115..(is
Suffolk A Carolina First Cons mtge gold red 110 so*
IstABef M S35.000.000 red 105 since 1915 Ce.xo* Ar*
Raleigh & Cape Fear 1st M g
Coixo*
Raleigh A South port first mort 12,000,000 ...Colx
Aberdeen A Asheboro 1st M $164,000 g-MeBa.xo*
Three-year SecuredNoteecall 102ext. at7 % seetext. Ce
Equipment trusts series A due 925,000 seml-ann —
Sorfolk & Western—Common stock $250,000,000-Ox
orfolk Terminal—1st M S2.000.000 g gu red_.Q.xc*
Adjust pref (p&d)4% stock non-cum $23,000,000.Gx
N A W gen (now 1st) M Norf to Brls Ac g ..FPJto*
New River Division first mortgage golo.--FP.xc*
Improvement A extension mortgage gold.FP.xo*
Scioto Valley A New Eng 1st M assum gold.Ce.zo*
N A W First Oonsolmtge$62,500,000 g..Ba.xc*Ar*
Dlv 1st lien A gen M (text) g red 105 beg 1929 (fx
Pooah Joint M $20,000,000 g call 105 s f.QP.xc'Ar
Col Con A Term 1st M gold gu (end) ass ....Mp.xo*
Convertible bonds gold red text...........
Qx
do
do
13,300.000 gold red-.d xo'&r*
do
do
see text gola red
Qjcc*Ar*
do
do
$17,945,000 g see text G.yc*Ar*
Winston-Sal So'b'd lstM$5.000,000 g gu Us.xo*Ar*
Secured gold notes authorized $2,600,000-.—Gc*
Equip tr Series of 1914 g gu $500,000 s a.—...ycf
Equipment truet No. 54, due $459,000 yearly. ...G
Norrlsto wn & Main L Con—1st M g gu (end.) — GP.kv
North Carolina—Stock 7% paid from rental —----North East Penn—1st M gold guP&R(ext)GuPkvc*
North Penn—Stock 8% gu 990 yrs $6,000,000 auth-.
Old second M (now 1st) (7s extended in 1896) —kvc
General mortgage extend. In gold in 1903-FP JkvcAr
Funding loan bonds $409,000 gold — — —
— -Jkv
North & South Carolina—See Seaboard Air Line
Northern Alabama—1st M ($350,000 prior Hen) Col xo
Northern (N H)—Stock 0% rental—- —-—-----Northern California Ry—See Southern Pacific RR—■
h Further amount pledged, see text.
DIVIDENDS.—In 1911. 2%
EARNINGS.—
Gross
(quar.);
1921.
-
Net after taxes-—-----
$1,912,896
94,828
Par
Amount
Rate
When
Outstanding
%
Payable
and Maturity
1891
19C4
1902
1911
1903
1905
1910
1917
1914
1911
223
223
75
789
32
61
82
2.42
$100 $16,000,000
1,655,000
1,000
1.000
825,000
1,000
642.000
500 Ac hl2 355 000
1,000
137,000
374,000
1,000
164,000
1,000
1,000,000
1,000 Ac
150.000
1.000,000
"Todo
100
100
1881
1882
1883
1889
1896
1904
1901
1892
1907
1912
1913
428
194
127
1,621
1,871
1919
1910
1920
89
.
.64
226
25.6
88
57
88
112
1914
1,000
1,000
1,000
1,000
100 Ao
1.000AC
1,000
560
1,000 AO
1.000 Ac
1.000Ac
1,000 Ac
1,000
1,000
1,000
1,000
1920
1902
1,000
100
1,000
1890
1866
1873
1898
60
600 Ac
$.000
1896
100
83
-Jan. 1-Dec. 311920.
1919.
$7,816,473
$6,591,227
def489,877
180,785
REPORT.—For year ending Dec. 31 1920 in V. 112, p. 2078.
Calendar
Oper.
Net (after
Total
Int., rent,
Year-—
Rev.
taxes)
income.
&c.
Bal.
Sur.
1920-—-——$7,294,634def$569079
x$l, 115,178
$ 1,168,739def$53,561
1919
6,591,227
180,766
xl,623,111
1,310,125
312,986
1918
5,753,644
285,949
xl,175,407
1,126,980
48,427
1917—
5,299,914 1,423,467
1,956,673
1,616,989
339,683
x Includes Federal compensation and other income.
—-
——
OFFICERS.—Marsden J. Perry, Chairman of board; B. H. Swartwout,
Vice-Chairman, Jos. H. Young; Pres., Ernest Williams and E. D. Kyle,
V.-Pres'ts; M. Manly. Treas., and M. S. Hawkins, Sec.—(V. 112, p. 745,
1866.2078.)
NORFOLK TERMINAL RY.—Owns a union passenger station at
Norfolk, Va.. with approaches, opened June 1 1912, used by the Vir¬
ginian Ry., Norfolk A Western Ry. and Norfolk Southern RR., which
own the entire stock and undertake to
meet all expenses, oharges and
interest and principal of bonds.
Bonds authorized March 20 1911, $2,000,000, guaranteed, prln. and Int., by the three lessor oompanles, of
wbloh $1,000,000 lhave been sold.
Redeemable at 105 after Nov. 1 1925.
V. 92, p. 660,1109; V. 93, p. 667, 1191.
Pres., O. W, Huntginton, New
York; Treas., M. hianly, Norfolk, Va.—(V. 112, p. 1144.)
NORFOLK A WESTERN RY,—(See Map.)—System extends from Nor¬
folk, Va., westward to Columbus and Cincinnati, O., and northward to
Hagerstown, Md„ with branches to the various coal fields in Va. and W. Va.
Miles.
Boad Owned—
Miles.
Roanoke to Winston....
Radford, Va., to Bristol, Tenn..lll Sundry branches........
Roanoke, Va., to Hagerstown..238 Columbus terminal...
Graham to Norton....
.....100 Trackage
No. Caro. Junction to Fries..... 44
Total operated Dec. 31 1920-2,199
Lynchburg to Durham, N. O.—115
Portsmouth Junction to Cincin¬
nati and Ivorydale
...-.106 Double traok
557
In 1919 took over Va.-Carolina Ry., Ac., lines long controlled, owning
about 98 miles of road.
V. 108, p. 879, 974.
Norfolk. Va., to Columbus, O—.707
ORGANIZATION.—Successor in 1896 of Norfolk A Western RR., Ac.,
foreclosed per plan In V. 62, p. 641.
As of Dec. 31 1919, the Penn. RR.
•wned $38/757,700 common and $6,320,000 adjust, pref. and the Penn. Co.
(on Dec. 31 1919) $5,000,000 pref. and $3,190,500 com. stock.
V. 83,
502: V. 88. p. 1062; V. 98, p. 763; V. 95, p. 361, 688.
Boat lines, V,
73.
p.
STOCK.—Provisions of pref. stock were In the Issue of April 1897, p.4.
April 10 1919 stockholders authorized an increase in the authorized
common stock to $250,000,000 chiefly in order to
provide for the convarsionfeature of new convertible bonds.
V. 108, p.1512. See below.
On
DIVS—
Common.
J '04.
%11
8-
*05.
_8W
'06, '07. '08. '09.
4H
5
4
'10. *11. *12-'15 *16 1917-21
5
5* 6 y'ly. 7%
Text
In June 1916 dividend was increased to IH% quarterly and an extra of
1%
was paid.
1?17, Mar., 1?*% and 1%
1H% quar.
Adjust, pref. receives 4% p.
extra/June 1917 to June 1921,
a.
121499 600
(1% Q.-F. 19).
BONDS.—The First Consolidated mtge.of 1896 is limited to $62,500,000.
the balance unissued being reserved to retire the underlying bonds. V 73.
502; V. 74, p. 151; V. 75, p. 505; V. 77, p. 1785; V. 78. p. 229.
See
abstract, V. 64, p. 37$; Y. 72. p. 137, 438, 532, 723. 1080; V. 75, p. 505;
Checks mailed Norf office
Jan
5 g
£ *
11914,H%
May 1 1941
July 1 1954
July 11952
A
A
Metropol Tr Co, NY
Guaranty Trust Co, N Y
International Tr Co, Bait
Central Un Tr Co. N Y
5 g
5 g
A
£g
A
Feb 1 1961
Moh 11943
A
June 11965
Columbia Trust Co, N Y
A
Jan
A
A
11940
See text
Co,Bait
Central IJn Tr Co., N,Y
July '21-Jan '24
A
5 g
I*
74'
MAN May 1 1961
Q—M June 18 ,'21
22,992,300
7,241,000
2,000,000
4
5.000,000
5,000,000
40,400,500
23,000,000
15,568.000
600,000
285.000
88,000
523.000
6 g
4g
M
A
4 g
A
A
16.767,000
5,000,000
2,500,000
3,500.000
6,426,000
250,000
4.000.000
400.000
5.522,650
1.500.000
4,500.000
fg
4 g
J
Philadelphia
Bankers Trust Co, N Y
do
do
do
do
do
do
Bankers Trust Co, N Y
do
do
do
do
A
A
Metropolitan Tr Co, N Y
Bankers Trust Co, N Y
do
do
do
do
Sept 11938
do
?g
MAS Sept 1 1929
J
A
3 July 11960
do
6 g
M
&
F
A
4Xg M
f «
V8
7*
5 g
8
4
3.3g
4 g
1,650,000
3,068.400 6
in61920
&
S
Y
Office, Philadelphia
Deo 11941
Jan 11922
J
A
D June 11932
MAS Sept 11932
J
J
Gul^anty"Trust (To 7 N
1* Office,
July 11944
f g
il
5 g
N Y
Mere Tr A S Dep
Nov 11989
Oct 11996
&
Columbia Trust Co,
MAN May 11931
A
A
O Apr 11932
F
A
Feb 1 1934
6 g
6g
May 19 '21
Q—F
,
408.000
1072.
1920.
$1,961,213
95,964
Places Where Interest and
Dividends are Payable
Last Dividend
Value
1912 to Jan. 1914, 2% (Q-J.».
V. 98. p. 1000.
-Jan. 1-Mar. 31
None since, to April 1921.
Dale
Bonds
Miles
Road
RAILROAD COMPANIES
[For abbreviations, &c„
[Vox. 112.
STOCKS AND BONDS
N May 11924
A Aug '21-Aug *24
J & J 15 Jan 15 '22 to '35
MAS Sept 1 1952
F
A
A Feb 1921 3 H%
A
O
A
United States Tr Co, N Y
Guaranty Trust Co, N Y
Commercial Tr Co, Phlla
Reading Terminal, Phila
Burlington, N C
Reading Terminal, Phfla
April 1 1930
Q—F
May25 *21 2% Office. 240 S 3d St. Phlla
do
do
MAN May 11936
do
do
J
A
J Jan
11953
MAN Nov 11928
Reading Terminal, Phlla
J
A
Q—J
Treas' office,Washington
1 1921 1H 50 Congress St, Boston
J July 1 1928
Apr
on May 1 1923 at 10054; on Nov. 1 1923 at 100 H %.
liberty Loan bonds,
v. 110, p. 1973.
Securedjby pledge of
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
*
•
The $5,000,000 Winston-Salem southbound Ry. 1st Mtge. bonds are
guar, jointly with the Atlantic Coast Line Ry. Co.
Also guar., with Vir¬
ginian Ry, and Norfolk Sou. Ry., $1,000,000 Norfolk Term. Ry. 1st 4s,
and, with Southern Ry. and Winston-Salem Southbound By., $250,000
,
Winston-Salem Union Station Co.
.
1st 5s.
GENERAL FINANCES.—Of the traffic in 1920, 64.04% (26,056,727
tons) was coal; average rate per ton per m., 0.679 cts.; train-load, 1,107 tons.
Jan. 1 -Mar. 31
Jan. l-Dec. 31
EARNINGS.—
1921.
1920.
1920.
1919.
Gross
.....-.....$19,246,047 $19,756,291 $86,559,174 $76,925,599
Net after taxes
836,781
639,759 ef1,381,287
9,781.255
REPORT.—For 1920 in V. 112, p. 1413.
Years ending Dec. 31—
1920.
1919.
1918.
1917.
Gross operating revenue $88,489,3,56 $76,925,599 $82,004,034 $65,910,242
Net operating revenue-.
3,545,519
12,904,314
20,424,737
24,748,739
Federal
Taxes
compensation..fl9,315,345
2,260,000
881,395
—
Other income
Deductions
Preferred dividends....
Common dividends.....
5,439,951
919,692
8,503,989
20,711,875
1,856,097
1,119,445
5,461,442
919,692
8.459,373
20,634,142
1,716,000
1,000,159
4,113,775
919,692
8,437,410
5,096,922
3,530,239
4,235,919
919,677
9.632,620
Balance
$3,073,107
$5,134,714
$6,447,424
$8,393,840
t Includes Fed. comp. 2 mos., $3,611,787; reailway oper. income guar,
period (6 mos.), $11,005,436; railway oper. income (Sept.-Dec.), $4,698,122.
OFFICERS—Pres.,N.D.Maher; V.-Ps., A.O.Needles,O. 8.Churchill
W. Booth; Treas., Joseph B. Lacy."
E. H. Alden; Sec. A Asst. Treas., I.
Directors.—Victor Morawetz, New York; Samuel Rea, Philaj
W. Flickwir, Roanoke, Va.; E. H. Alden, John P. Green and W. W.
David
Atter-
bury, Phila.; Joseph Wood, Pittsburgh; Childs Frick, Roslyu, L. I.; M. C.
Kennedy,.Phila.; N. D. Maher and A. O. Needles, Roanoke, Va.—(V. 112.
p. 162, 1391. 1413, 1741.)
NORRISTOWN & MAIN LINE CONNECTING RR.—Owns doubletrack road. 64 miles long. lncl. bridge over Schuylkill River at Norristown,
Pa.
Leased to Phlla. A Reading Ry. Jan. 1 1904 for 999 years at 4% on
■tock and int. en bonds.
Reading Co. owns the $50,600 stock
tees the bonds.—(V. 75, p. 1148.)
and guaran¬
NORTH CAROLINA RR,—Owns from Goldsboro to Charlotte, N. O..
222.44 m.; Oaroleigh Jet., N. O., to Oaroleigh Mills, 1.90 m.; total, 224.34
miles.
Leased from Jan. 11896 to the Southern Ry. for 99 years at $266,000 (6 H% on stook) per year till Deo. 311901 and $286,000 (equal to 7%
on stook) balanee of lease; also taxes.
V. 63, p. 361. State of North Caro¬
lina holds $3,000,000 stock.—(V. 66, p.
665; V. 89, p. 163.)
NORTH PENNSYLVANIA RR.—Owns from Philadelphia, Pa., to Beth¬
lehem, Pa., 56.53 m.; Delaware River branoh, 21.50 m.; Doylestown branch,
10.09 m.; total first track, 88.12 m.; total track, lncl. 24, 3d and 4th track
and sidings, 278.94 m.
Leased for 990 years from May. 1 1879 to Phlla.
A Reading RR. at 8% on stock, and lease assumed in 1896 by Phlla. A
Reading Ry.
Pres.. Charles E. Ingersoll.—(V. 18>p. 668; V. 103, p. 2429.)
NORTH EAST PENNSYLVANIA RR.—Owns road from Glenside to
New Hope, Pa., 25.64 miles; 2d track, 1.99 m.; total tracks, 33.05 miles.
Cap. stock. $400,000, of which $328,950 owned by Reading Co.; par $50.
The $400,000 1st Mtge. 5s due April 1 1920 were extended to April 1 1930.
p.
V•
79, P« Zlu» V• ol* p* 2*\£<>
The N. A W .-Pocahontas Joint bonds are secured by about 300,000 acres
of coal lands owned and held by the Pocahontas Coal A Coke Co., of
which about 50,000 acres have been leased to companies whose stock Is
adJ owned by the United States Steel Corporation and 39,797 to other con¬
subject to royalties.
They are subject to call at 105 for a sinking
fund of 2M cts. per ton mined, V. 106, p. 1239.
V. 73, p. 845, 902; V. 74,
cerns,
41, 380, 1197; V. 75, p. 502.
These bonds are the joint and several
obligations of the Railway Co. and of the Coal & Coke Co., but as between
the two companies the debt Is to be paid by the latter company.
$4,432,000
have been retired.
Divisional Isl Lien and Gen. Mtge. 4s of 1904 ($35,000,000) authorized for
future capital requirements are a 1st lieu on extensions and branches and
p.
**
The Oonv.48 of 1907, of which $25,569,000 were issued 1907-10
(V. 83,
380,435, 575) were convertible Into common stock. $ for $, prior to June 1
1917, and thereafter subject to call at 105 A int.; $25,284,000 bonds were
Converted. V. 83, p. 1412. 1471: V. 84, p. 1248: V. 86. p. 109, 286:
p. 772.1425: V .93. p. 1321.1634: V. 104, p. 1592; V. 106.p. 1237.
Convertible bonds of 1912 are convertible into common stock, $ for $
prior to Sept. 1 1922. and thereafter subject to call at. 105 and Int.
To
Apr. 11921, $12,943,000 converted.
In treasury, $269,000.
V. 94, p. 208,
417; V. 95, p. 687.
The 25-year 4J4% convertible bonds of 1913 are convertible Into com¬
mon stock. $ for $. prior to Sept. 1 1923. and thereafter sub. to call at
105
and int.
Converted to Apr. 1 1921, $16,617,000; in treasury, $1,213,000.
V. 96, p. 360, 653, 948; V. 97, p. 666.
Equipment trusts of 1914, V. 98
p. 1000, 1072.
To provide for capital requirements during 1919, Ac., the holders of
both classes of stock of record Dec- 18 1918 (see V. 107, p. 2098) had the
privilege of subscribing at par for $17,945,000. Convertible 10-year 6%
gold bonds of 1919 in amounts equal to 12 H % of their respective holdings.
The bonds are convertible into common stock, $ for $.
Converted to
Apr. 1 1921, $655,500; in treasury, $522,000.
The 6% secured notes of 1920 are red. as follows: On May 11921 at 10154:
on Nov. 1 1921 at 101 Hi on May 1 1922 at 101; on Nov. 1 1922 at 100Hi
p.
V™9a
NORTHERN ALABAMA RY.—Sheffield to Parrlsh, Ala., and branches,
112.50 miles.
In April 1899 a majority of stook and bonds purchased by
the Southern Ry.
V. 68. P. 824, 873.
See also V. 69, p. 391.
Stook is $2,000,000.
Under supp. mtge. of 1898 $400,000 of the out¬
standing $1,700,000 1st 5s were made prior liens. V. 67, p. 1208.
——Jan. I—Mar. 31
Jan. 1—Dec. 31
EARNINGS.—
1921.
1920.
1920.
1919.
Gross.....
$255,190
$385,641
$1,501,881
$1,183,931
Net after taxes........
3,090
95,098
220,694
80,710
Pres., Fairfax Harrison, Washington, D. C.—(V. 69, p. 28.)
NORTHERN (N. H.) RR.—Onus Concord. N. H., to mite River Jot.,
Vt., 70 m.; branch to Bristol, N. H., 13 m.; total. 83 m.
Subsidiary lines.
Hillsborough RR., 19 m
Concord A Claremont RR., 71 m.; Peterborough A
Lease to Boston A Lowell for 99 years from Jan.
1 1890 was assigned to
6%, payable in gold.
Until July 1897 1% extra
paid regularly from contingent fund.
Also In 1894, Jan., 5% extra
1896, 2%; in 1897. 5%; in 1904.
extra.—(V. 106, p. 924.)
Bos. A Me.; rental now
was
In
NORTHERN CENTRAL RY —Owns Baltimore, Md.. to Sunbury, Pa..
136 miles, aU double track: branch, 8 miles: total, 144 miles.
Leases of
and KLmlra A WlUiamsport BR. were
Shamoida Valley A PottsvUls RR.
assumed by Penn. RR. in 1914.
The stockholders on Nov. 2 1910 voted to lease
for 999 years from Jan. 1 1911.
receive a stook dlv. of 40%: also
road to Pennsylvania RR.
the holders of the $19,342,550 stook to
10% In cash from treasury assets and a
guaranty of 8% on all the stock during;the lease, retroactive to Jan. 11911.
v. 91, p. 154,337,464,871,1026.
The lease went into effect in July 1914.
V. 99, p. 34$, 49: V. 91, p. 1768; V. 92, p. 527, 1109. 1179, 1Z«, 1566*
V. 93, p. 45,286; V. 96, p. 572; V. 102, p. 2342.
State of Maryland 1st M.
of 1855.
V. 102, p. 1060, 1250.
SECURITIES OWNED.—On Dec. 311919 amongthe assets held were
Elmira A Lake Ont. stock (all), $1,500,000; Skam. yalAPottsv.stpok.
$619,650; Union RR. stock. $1,225,000 (the bal. of $875,000 being held by
Phila.. Bait. A Wash.), Ac.
STOCK.—Penn. RR. on Dec.31 1920 owned $13,053,050 of $27,077,150
outstanding stook.
The auth. issue was increased in
Nov. 1910 from
$20,000,000 to $27,079,600.
A 40% stock div. ($7,737,000) was paid]Aug.
5 1914.
V. 91. p. 1630; V. 98. p. 1695; V. 99, p. 271, 538.
May, 1921.]
RAILWAY STOCKS AND
RAILROAD COMPANIES
[For abbreviations, Ac.,
see
Mile
Northern Central—Stock ($27,079,600 auth) (see text)
First mortgage State of Maryland loan (V 74,p 1197)
Consol General mortgage of 1874 gold Series E..xo
Second Gen M Ser "A" A "B" (A $2,565,000)
Par
Amount
Rate
When
Last
Dividend
Bonds
Value
Outstanding
%
Payable
and
Maturity
144
144
-FPx
A
J
$27,077,200 8 In 1920 J
6
1,500,000
Q—J27
1 757,000
A
O
4K g A
5
J
A
J
3,563,000
100
4
1,000,000
Q—M
100 Ac
J
A
J
654.000
4H
4 A K J
1,000
154.000
A
J
1,000
A
A
O
2,500,000
1855
1885
1,000
1,000
144 '76-'82
Northern of New Jersey—Stock guar (see V 69, p 81)
1st M ext at 4 H % till July 1 1927 see text
c
Gen mtge $1,000,000 g Int guar by lease—.Usm.xc*
Northern Ohio—1st M g ($15,000 p m) gu p & l.Ce.xc*
Northern Pacific Ry—Stock $250,000,000 authorized
"21
1887
1900
162
1895
St Paul A N PgenM land grant assumed.Ce.xo*Ar
do
do
registered
x
182
182
1883
1883
1,000
1,000
Wash & Columbia River 1st M gold assumed_F.xo*
163
1895
1,000
Mortgages of Northern Pacific Railway—
Prior lien M $129,537,000 gold land gr_Ba.xc*Ar See z
General lien M $190,000,000 gold land gr.F.xc* Ar See z
St Paul-Duluth Dlv pur money M $20,000,000 G.xc*
226
OB & Q ooll trM gconv (red at 103H)
o'&r*
do
do
registered
r*
Bef and Impt M gold ($, £. fr) red text_.Q.c*&r»
6.271
do
do
Series B bonds red (text)__c*&r*
6,873
Equip, trust cert, due $450,000 yearly
Ba c*
'
m
mm
1
„
Collateral trust note U S Government
100 248.000.000
<
'■
101
Date
Road
notes on page 6)
BONDS
110,132,000
4g
Ac a60,000.000
1,000
2,698,000
lOOAol 115,000,000
See "c'
l.OOOAoj
3 g
1896
500
Ac
F
6J?
A
J
10ft Ac
1921
1920
6
1,000,000
1,000 000
X825.000
1.000
6
4 g
4 g
See text
1 1945
do
do
do
Office 34 Nassau St. N Y
11997
Jan
P
Morgan A Co. N Y
J P Morgan A Co, N Y
1 1923
Jan
do
Chase Nat'I Bank, N Y
1H J
12047
1 1996
J P Morgan Co, New York
do
do
do
do
A
4.050.000
100 &c
20.000.000
12000
Oct
J July 1 1936
New York
&
g
S8S
?« M
6,000,000
1914
Jan
D Deo
A
J July 1 1936
J July 1 2047
New
A
&
&
M
Payable
>
Feb 1 1923
J July 11935
Q—J
Q—F
J
are
151921 4% Treasurer's Office, Balto
Irredeemable
do
do
Apr 11925
do
do
Jan
1 1926
do
do
June 1921
1% 50 Churoh St. New York
July 1 1927
do
do
A Feb
A
Where Interest ani
Dividends
Jan
May 2 1921
Q—F
?g
4 g
500
1921
Q—F
6?
1896
1900
1921
2
4,263,000
3,432,000
b2,620,000
1920
..
7
Places
&
do
York, &c.
J July 1 2047
New York
N May 15 '22to'30 J. P. Morgan & Co.,N.Y.
S Nov 1 1925
Bonds
Underlying St Paul <fe Duluth Div Mtge
St Paul A Duluth first mortgage assumed
zc*
Consol mtge assumed $5,000,000 gold—Mp.zc*
167
238
Washington Central 1st M
130
a
c
x
$15,000 p m
xCol
1,000
1.000
500 &c
1898
1898
b 2.480. 000.
b Incl. amounts in treasury Dec. 31 1919, viz: a
$5.39 8.500.
Burlln gton A Q ulncy).
This is only one-half the outstanding Issue (see Cb icago
After deducting $1,026,000 owned by Northern Pa ciftcR y
z 5.130
DIV8.—Percent
•
g
1881
*88. *89. '90. '91. '92. *93. '94-'00. '01-'14.Since under Lease.
7
8
8
7
8
8
7 yrly.
8 yrly.*
8 yearly.
Jan.
1907. 12^% paid in stock ($2,149,169).
V. 83, p. 471.
Also 10% extra In cash and 40% fn stock under lease in Aug. 1914 and 23%
extra In cash representing 8% on 40% stock dividend for 2 H years from
Jan. 1 1911 to July 1 1914, during which lease was held up.
v. 99, p. 343,
Also
Bonds, Ac.—The shareholders voted Feb. 5 1919 to increase the funded
to the extent of $8,216,000 by the Issuance of Consolidated Gen.
Mortgage, or other bonds or obligations, in order to liquidate indebtedness
to Penn. RR. Co. for improvements amounting, it is understood, to $5,000.000 Jan. 1 1919 and for further similar outlays.
V. 108, p. 172.
debt
REPORT.—For cal. year 1919: Rental from lease of road, $2,530:324'
Interest, Ac., charges, $363,956: dividends, $2,166,172; surplus, $196*
Pres., Samuel Rea; Treas., Jas. F. Fahnstock.—(V. 107, p. 2376; V. 108•
p. 172, 579, 974.)
:
NORTHERN
RR. OF NEW JERSEY.—Owns from Croxton, N. J., to
Sparklll, N. Y., 21 ra.; leases Sparkill to Nyack, 5 m.
Leased to the Erie
RR. from June 1 1899 for the term of Its
"»rporate existence, for Interest
on bonds, 4% on $1,000,000 stock, payabl
quarterly, taxes, and all cor¬
porate expenses.
The $650,000 1st M 1 J
bonds, maturing July 1 1917.
were
extended until July I 1927, with 4)4% hit.
V. 104. p. 2553.—
(V. 104. p. 2553.)
NORTHERN RY. COSTA RICA.—See V
71.
p.
1067, V.100.D 643.
RY.—Owns Akron to Delphos, O., 162 miles*
Was leased for 999 years to Lake Erie A Western RR., which owns the
$3,580,000 common stock, but in Jan. 1920 the latter company disposed of
the lease to the Akron Canton & Youngstown RR. V. 110, p. 562.
Pref.
non-cum.
5% stock, $650,000; par, $100.
Mortgage auth., $4,000,000;
Issued, $2,500,000, and $1,500,000 reserved for extensions at $15,000 per
mile.—(V. 60. p. 337.)
NORTHERN
OHIO
NORTHERN
PACIFIC
RY.—{See
Maps.)—Operates
one of the
leading lines to the Pacific, having Its eastern terminal at St. Paul, Minn.,
and running thence west¬
erly, traversing the great wheat belt of Minnesota and North Dakota, the
mining district of Montana and the farming country of Washington to
Tacoma and Seattle and to Portland. Ore., with branches.
and Duluth, Minn, (the head of Lake navigation),
Main
Leased to Others—
Miles.
Line—
Ashland, Wis., to Portland, Ore.2,266
St. Paul to Staples and Bralnerd
180
Other main lines
1
520
2,966
3,689
Total main line.
Total oper.
directly
6,655
A
Q—M
lies, lnol
udlng
A Aug 1 1931
D June 1 1968
Mar 1 1948
40 miles
not
J P
Morgan A Co. N Y
do
do
Bankers Trust Co, N
opera ted;
spurs,
Y
261 miles.
bonds are to be issued in conversion of the joint C. B. & Q»
bonds, due 1936, and the mortgage will also cover such
collateral 6A%
shares of stock of the C. B. & Q. as are released as a result of such conver¬
sion.
The Series B 6% bonds may be redeemed on and after July 1 1936
at 110 and interest.
In April 1921 a syndicate headed by J. P. Morgan & Co. and First Nat'
Bank, New York, offered'an issue of $230,000,000 Northern Pacific-Great
B. & Q. collateral),
collateral joint 4%
bonds, due July 1 1921, with final coupon attached, were accepted in pay¬
ment at 100 and interest to date of payment on allotments.
Bonds are to be the joint obligations of the Northern Pacific Ry. and of
the Great Northern Ry., and are secured by pledge of the following collateral
conservatively valued at an amount in excess of 120% of the principal
Northern joint 15-year 6 lA% convertible gold bonds (C.
due July 1 1936, at 96A and Interest.
The C. B. & Q.
amount of this Issue:
1,658,674 shares of the capital stock of the Chic. Burl. & Quincy RR.
$33,000,000 North. Pacific Ry. Ref. & Impt. M. 6% bonds, Ser B.,due2047.
$33,000,000 Great Northern Ry. Gen. M. 7% bonds, Series A, due 1936.
The
bonds
are
redeemable
as
a
whole
or
amounts of not less than
in
$5,000,000 at 103and interest.
In the indenture securing the bonds the Northern Pacific and Great
Northern Ry. Cos. have covenanted that, in the event of any mortgage
being placed on the properties junior, respectively, to the Northern Pacific
Ref. & Imp. Mtge. and to the Great Northern Gen. Mtge., such new
mortgages will secure the Joint 6H% bonds outstanding by a lien pari
passu with that securing such new bonds.
The indenture also provides that if the amount of that issue is reduced
through conversion or retirement the bonds and stock deposited as colateral may be withdrawn proportionately by the respective companies.
The bonds are convertible, par for par, into Northern Pacific Ref. & Impt.
Mtge. 6% bonds, Series B, due 2047, or into Great Northern Gen. Mtge.
7% bonds, Series A, due 1936, part of which issues are deposited as collateral
ana of which an additional amount is reserved, sufficient to provide for the
conversion of the Joint 6A% bonds.
The conversion may be exercised by the holder of Joint 6 A % bonds with
a view to obtaining a like principal amount of bonds, either all in the Ref.
& Impt
Mtge. 6% bonds, Series B, of the Northern Pacific, due 2047;
all in the Gen. Mtge. 7% bonds, Series A, of the Great Northern, due 1936,
or in bonds of both issues In any ratio between the two which the holder
may desire, but not more than $115,000,000 of either of such bonds will be
As Joint
under trackage
rights A included above.. 66
oper.
To other companies
145
7,089
166
4
Industrial spurs
Not operated.
7,259
Total..
Controlled Properties—
6A% bonds are presented for conversion, the trustee will with¬
draw from the deposited collateral a proportionate amount of
289
Various branch lines
Series B 6%
A
J
Issued in conversion.
To Province of Manitoba. _355
Less
m
F
C. B. & Q.
stock, and will deposit such stock with the trustee of the Northern Pacific
Ref. & Impt. Mtge., or the trustee of the Great Northern Gen. Mtge., as
required by the demand for conversion, and will deliver such Northern
Pacific or Great Northern bonds, as the case may be, in exchange for the
conversion.
At the time of conversion an
be made between the Joint 6A%
presented for conversion and themortgage bonds issued in exchange.
Compare V. 112, p. 1866.
Joint 6 A % bonds presented for
adjustment of accrued interest will
bonds
new prior lien and general lien mortgages of 1896 were
1012-1019, 1072; see V. 99, p. 49.
Abstracts of
Minn. A Internat. Ryi
Co
Big Fork A Int. Falls Ry. Co..
178
34
V. 63, p.
in
purchasable with land sales at not exceeding 110
(but not subject to call), not over $500,000 cash yearly to
be so applied.
Total Issue, $130,000,000; Issued.—
$121,650,000
Originally reserved, but no longer issuable...—...——
593,000
Issued, but purchased and canceled
.......———11,518,000
Reserved to retire St. Paul A N. P. bonds ..........
7,707,000
For new construction, betterments, equipment, Ao., not exoeeding $1,500,000 per annum $25.000.000.
All Issued.
Of Gen. Lien bonds, $130,000,000 wero reserved to retire Prior Lien 4s.
Prior lien 4s
.
Total system Dec. 31 1920--7,471
2d, 3d and 4th track
838
aggregating 355 m., were leased for 999 years
31 1901 to the Provincial Government and sub-let by the latter to
$210,000 annually for the first 10
years, then $225,000 for 10 years, then $275,000 for 10 years and thereafter
$300,000, with option of purchase any time for $7,000,000.
V. 73, p. 610.
Owns Jointly with Great Northern the stock of Spokane Portland A Se¬
attle Ry., extending from Portland to Spokane, Wash., with branches;
see V. 81. p. 1101; V. 83, p. 1111; V. 86. p
1530.
The Sp. Port. A Seattle
owns majority of the stock of the Oregon Electric and United Rys..of Port¬
land.
V. 91. p. 1178.
Twin City Belt Ry., org. In 1917. See V.104,p.560.
In 1909 arranged for Joint use of Co's line, Tacoma to Vancouver, Wash.,
135 M.. with Gt. Nor. and Un. Pac.; V. 88. p. 1373; V. 93, p. 1030.
In
Jan. 1918 began running its own trains into Vancouver, B. C.; discontinued
Aug. 16 1918.
In 1912 the Midland Ry. of Manitoba, formed in the Joint Interest of the
company and the Great Northern, obtained trackage rights from the Cana¬
dian Northern Ry. between Emerson, Man., and Winnipeg, 65 miles, for
30 years, with provision for 999 years.
V. 95. p. 298. 1129: V. 97. P. 1038.
In March 1921 organized the Absaroka Oil Development Co., in order
to further the development of the railway's oil and gas lands and rights in
North Dakota, Montana and Wyoming.
V. 112, p. 933.
The Manitoba branches,
from May
the Canadian Northern Ry. at a rental of
succeeded to the
Northern Pacific RR.,
V. 62, p. 550. ,
The original Northern Pacific Company was chartered by Congress July 2
1864; 450 miles to Bismarck were foreclosed In 1875.
,
DIVIDENDS.— (1905. 1906. 1907. 1908. 1909.
1910 to May 1921.
On common <%)—\
7
7
7
7
7
7 yrly. (IH% Q-f)
•Also Dec. 1908. 11.26% from surplus of N. W. Impt. Co. V. 87, p. 1238.
HISTORY.—This Wisconsin company on Sept. 1 1896
railroads, land grant and other property of the
foreclosed In July 1896 and reorganized per plan In
BONDS.—The Refunding and Improvement Mortgage of
1914 covers
6,873 miles of road, on 1,004 of which it is a first lien. It is an open mortgage
and not limited to any specified amount, but the bonds at any time out¬
standing are limited to three times the outstanding capital stock, now
amounting to $248,000,000. When the amount of bonds Issued thereunder
(bearing interest at rates to be fixed) reaches
$500,000,000. further lssuee
placed under the mtge.
before maturity or convertible
at the election of the holders Into capital stock on terms and dates to be
fixed.
Of the bonds. $421,492,500 are reserved to retire. $ for $, prior
must be limited to 80% of the cost of new property
Bonds of any series may be made redeemable
'
sold, callable as a whole at 110 and
V. 99, p. 120, 271; V. 105, p. 2366.
bonds at or before maturity.
In 1914 $20,000,000 8erles A4Ha were
interest on and after July
1
1919.
^
^
.
.
The
St.
Paul-Duluth
Division
mortgage secures
.
$20,000,000 purchase
money bonds on the former St. Paul A Duluth, of whioh $9,215,000 were
Issued to acquire the road, $5,283,000 were reserved to retire existing St. P.
A D. bonds and the balance for improvements to the property.
V. 70, p.
1250; V. 71. p. 1167.
The lands Included in the grant of the former St. Paul
proceeds applied to purchase of the bonds at
A Duluth are being sold and
not
ever
105 and Int., or. If not purchasable at
that price, then to better¬
ments, Improvements or additions to the mortgaged premises or equipment
therefor.
To Dec. 31 1920 $10,419,000 had been Issued but $7,600,000 bad
been thus purchased and canceled.
V. 71, p. 1167; V. 72, p. 339.
The
First Nat. Bank of N. Y.f acting as agent for the company, in Aug. 1920
offered 4H% Liberty bonds in exchange for these bonds.
V. Ill, p. 693.
In Jan. 1921 the Guaranty Trust Co., as trustee
brought suit charging
the company with refusal to comply with the trustee's demand to purchase
any of the
bonds at the price fixed.
V. Ill, p. 793, 1753.
V. 112
p.
372.
Govt, loan,
LAND
States
GRANT.—The land
of Minnesota and
Intermediate territories.
grant
was
12.800 acres to the
mile la the
Oregon and 25,600 acres per mile In the
Unsold on Dec. 31 1920, 4,615,886 acres,
(then)
rlz.:
6=5,811 Idaho
318,305
Wyoming
68,592 Washington
...—-1,367,842
Montana
2,725,069 Oregon
100,267
Net sales 1920, 2,969 acres for $862,882; acres cancelled in excess of
new sales, 2,969.
Minn.. No. Dak. A Wise..
FINANCES—In 1904 Nor.
Pao. and Gt. Northern had
acquired $107.in exchange
612.600 of the $110,839,100 stock of Chic. Burl. A Quincy RR.
for their Joint 20-year 4% gold bonds secured by the deposit of
the stock In
$100 stock.
See circular,
85, p. 601.
Through the
of 54.132% ($60,000,000)
to stockholders of record March 31 1921, these holdings were increased to
$165,867,400 out of a total of $170,839,100.
The bonds were replaced by
an
issue of C. B.-A Q. Collateral 6A% bonds.
Due 1936.
See under
trust, on the basis of $200 In bonds for each
V. 72 p. 871
1034 1135; V. 73 p 294, 610; V
declaration of a stock dividend by the C. B & Q
bonds voted above.
_
,
_
.
.
.
COMPENSATION—Under Govt, contract,
In Aug. 1920 filed a
ment for $25,796,397. V. Ill, p. 751. 793.
837. 2476; V. 109, p. 380.
mnn
.
„
in-
„
$30,130,069. Y. 107, p
claim against the Govern¬
RAILWAY
102
Miles
page
6]
Date
Par
Amount
Rate
When
Road
RAILROAD COMPANIES
[For abbreviations, Ac., see notes on
Bonds
Value
Outstanding
%
Payable
30
Northern Pac Term Co—First M gold red 110 — F.xc*
Vorthern Railway (Cal)—See Southern Paolfio RR
100
1907
1914
1906
35.000.000
1,000
1,000 Ac
1,000
1.000
1898
914,000
28,115,000
360,000
2,217,000
3,000.000
1,200,000
101,000
nil Oct 1919
$416,000
450,000
*72
100
1.000
1897
1902
"20
500
Ac
"""52 "1914" "$Y.6do
100
10
A
Places
j Jan
11933
Where Interest and
Dividends are Payable
Wins low. Lanier a Co.N
y
100
i§88
1895
1902
1887
zoAr
680
1921 announced the payment of 17,000,000 under the Townsend-Winslow
Act. V. 112, p. 1025.
Jan. 1 -Mar. 31
-Jan. 1 -Dec. 31
EARNINGS.—
1921.
1920.
1920.
1919.
Gross
_-$19,248,807 $25,821.402S113,084,4085100,739,354
Net after taxes
def.1,616,340
2,830,556
1,973,378
13,042,167
REPORT.—Report year 1919 In V. 110. p. 1636: ,
Corporate and Federal Income account for calendar year 1920: Fed.
(2mos.), $5,301,309; Fed. guar. (6mos.), $14,760,606;otheroincome,
$14,358,569; oper. income, $1,973,378; deduct Fed. income included in
foregoing, $4,002,969; gross corp. income, $32,390,893; deductions, $13.296,709; divs., $17,360,000; bal., sur., $1,734;183.
V. 112, p. 1609.
Corporate income account under Federal control:
comp.
1918.
1919.
Bond., &c.,
$
$
$
Interest
12,332,346 12,243,558
compensa'n.30,089,692 80,089,692
Other income 9,565.594
8,132,615 Miscellaneous
Ry. tax accr'ls
charges
553,250
389,152
(war taxes)
1,518,089
1,657,365 Depreciation
L'sed road rents
51,332
51,332
ofequipt
2,198,638
2,203,696
Mtecell. rants
Dividends —17,360,000 17,360,000
and taxes..
10,026
10,598 Balance —x5,476.737 x2,769,334
Government
...
San Francisco
Safe Dep A Tr Co. Balto
Jan 1918 coupon not paid
2% Mech Nat Bk. Worcester
MAS Mch 1 1927
Company's office. Boston
Watertown (NY) Nat Bk
a
A
o Apr 1 1932
4
5 g
j""a""j Jan" l" 1934
j
Chath B A Sav Tr Co.Sav
AJ15 July 15*21 2H% 517 Chestnut St, Phila
MAS
Sept 11943
J
A
J
July 11926
J
ii
4 A5
A
D
Penn RR Oo New York
Seaboard Nat Bk, N Y
July 1 1926
■
7
22,294.000
4,000,000
3,000,000
5,598.000
1,000,000
17,575,000
1.000
1,000 AO
1,000 AO
1,000 Ao
1,000
1894
a'a'o Apr" "11928
MAS Mch 1 1957
AY a A o Aug 1 1964
j
A
j July 11926
I•
Q—J
Apr 1 1921
175.000
1
Bonds not mortgage
zoAr
Oregon A Cal—1st M g drawn at 100 gu p A l.Un.zo*
1918.
J
Dividend
and Maturity
.....
1,887.000
250,000
1,000
1,000
1.000
1903
1896
1914
9
26
Ohio A Little Kanawha Ry—See Bait A Ohio RB.
Ohio River—See Baltimore A Ohio
Oklahoma Central—See Atch Topeka A Santa Fe
Old Colony—Stock 7% guaranteed by rental..
o*
Bonds not mortgage
zr
Bonds not mortgage (auth $3,000,000) gold.zo*Ar
1919.
6 g
$2,444,000
Last
»
Ogden Mine PP—stock (5% rental Central of N J).,
fgdensburc A Lane Champlain Ry—See Rutland RR
Ohio Conn Ry—1st M $2,000,000 g gu (text)
Fxo*
Ohio A Kentucky—1st M gold sk id oall at 110.Ce.zo*
Bonds not mortgage
$1,000
1883
Northern Securities—See Industrials.
518
forth western Pacific—Stock ($35,000,000)
F
Cal Northw 1st M g guar by S F A Nor Pao sk fd .z r, 40
IstARef M $35,000,000 g red 110 aft 10 yrs.F.xc'Ar
*76
Northwestern RR of South Caro—First cons M—x
Northw Term Ry—1st M gold call at 102 >4 —--C*
Norwich & Worcester—Preferred stock 8% rental—
Bonds (not mtge) int guar under lease, cur
zoAr
Norwood & St L—1st M $300,000 g red 110 1912-.Eqx
Ocean Shore RR—1st M $5.000.000
Ocilla South RR—1st M $500,000 g red 110.xc*Ar
[VOL. 112.
STOCKS AND BONDS
Apr 1 1921
Q—J
IH Treasurer's
4
J
a
J Jan
11938
do
4 g
4
F
a
a Feb
1 1924
do
J
a
D Dec
1 1925
3K
J
a
J
5 g
J
a
J July 1 1927
do
Office, Bost
do
do
do
do
do
July 1 1932
Southern Paolfio Co, N
\
o 1902; 1903 to 1905, 8%: 1907 aal 1909. 4%; 1910. 5%' 1911 and 1912
6%; 1914, 4%; 1915. 5%; 1916, 6%; 1917, 6%.
Of the outstanding $360.000 first consol. mtge. bonds, $285,000 are 4s and $75,000 5s.
Year 1919,
$208,395; net, $87,164; int., rentals, Ac., $22,494; bal., sur., $58,671.
gross,
NORTHWESTERN TERMINAL RY—Owns terminals ooverlng 36 acres
at Denver and 102 acres of right of way In that olty, and 100 acres of freight
terminals at Utah Junction. 3 miles north of Denver.
Leased for 60 years
from Jan. 1 1914 to Denver A Salt Lake RR.. which owns the $3,000,000
stock, rental covering Interest od bonds, operating expenses and taxes
Y. 98, p. 913.
Operated by Denver & Salt Lake RR. Oo. by virtue of
lease.
Interest was defaulted Jan. 1
1918 and subsequently, and in
Jan. 1919 a protective committee with S. M. Perry of Denver, as Chair¬
man, called for the deposit of the bonds with the International Trust Go
of Denver or Bankers Trust Co. of N. Y.
V. 108, p. 269. 379, 1081
V. 106, p. 86.
A suit for the foreclosure of the First Mtge. 5% bonds was
filed by the Bankers Trust Co
N. Y., trustee, in Jan. 1920.
V. 110, p.
662.
Bonds ($2 500,000 auth. issue), see V. 89, p. 994; V. 90, p. 503.
Henry McAllister Jr., receiver.—(V. 110, p. 562 2658.)
,
,
-
x After deducting $154,868 in 1919 and $1,537,273 in 1918 for expenses
prior to Jan. 1 1918.
a Net income for 1917 as shown in Federal income
account.
NORWICH & WORCESTER RR.—Owns from Groton, Conn., to Wor¬
cester, Mass., 71.04 miles. Leased to New England RR. for 99 years from
Feb. 1 1869 mow N. 1 .N.B. A B.);rental895 on piff.sth — X 106. p.924
NORWOOD & ST. LAWRENCE RR.—Norwood to Waddington, N.Y.,
opened July 1909.
Stock, $250,000; par
Bonds are subject to call at 110 since April 1 1912. V. 95,
p. 1542.
For 1920, gross, $189,173; oper. income, $57,856; int., $13,947;
rentals, Ac., $30,142; surplus, $16,715.
Pres., John A. Remington; Sec. &
Treas., F. P. Wadley.—(Y. 95, p. 1542; V. 109, p. 1366.)
20 miles, incl. extension, 13 m.,
of shares, $100.
federal Income Account in 1919 (Compared with Co.'s Figures in 1918 & 1917.;
1919
1918
1917
Total operating revenues— .-$100,739,354 $102,908,259 $88,225J26
Maintenance or way and structures $16,223,655
$14,226,882 $10,782,178
Maintenance of equipment
16.716,958
11,245,120
...
17,610,480
Traffic expenses
765,309
779,683
1,233,124
Transportation expenses..
General, Ac., expenses
38,274,463
3,305,808
....
....
37,501,967
2,290.812
28,531,413
1,506,026
OCEAN SHORE RR., CALIFORNIA.—Owns partly constructed road,
double-track, to extend from San Franolsoo, Cal., to Santa Cruz, 80 miles
of whlsh 38 miles south from San Franolsoo and 15 H north from Santa Cruz
is completed, leaving gap of 26H miles.
Reported in July 1920 that the
company
Net revenue
fax accruals and uncollectibles
Operating Income
$31,391,956 $34,927,865
6,505,328
6.031,441
7,606,589
$17,053,050
Cr.2,779,743
See above.
30,089,692
STon operating items (net)
Dividends (7% per annum)
Compensation under contract
Net income
$24,559,639
$24,886,629 $28,896,425
Cr.3,974,634
Cr.606,261
See above.
17,360,000
30,089,692
defr$12,809,779xdef.$1,228,429 $12,142,686
x
After crediting $543,831
(net), representing payments
received on account of transactions prior to Federal control.
.
OFFICERS.—Howard
Elliott,
Chairman;
Charles
and
mantle part of its line; V. Ill, p. 1852, 2041.
successor of Railway Co. foreclosed Jan.
17
Donnelly,
Pres.;
372, 470, 563, 745, 933, 1025, 1144, 1519, 1609, 1867? 1978.)
the Willamette
River, Ore., at Portland, East Portland and Alblna,
lomprlsing 270 acres land, 40 m track, dock frontage 7.904 feet.
LEASE.—Leased for 50 years from Jan. 1 1883 Jointly ana severally to
Northern Pacific, Oregon Ry. A Navigation and Oregon & California, with
fuaranteed rental to pay interest, sinking fund and taxes: leases assumed
1899 by new Nor. Pao. and Oregon RR
& Nav.
V. 69, p. 230.
STOCK.—Stock ($3,000,000) owned by said three companies (40% by
Jregon Rf. A Nav. Co., 40% by Nor. Pac. and 20% by Oregon A Cal.
3R.), and held by Central Trust Co. of New York, to be delivered after
payments to the sinking fund, which is to cancel the bonds.
—
BONDS.—The first mortgage Is for $5,000,000; in Dec. 1920 $4,323,000
^vTlorp^OO;1tfoOT Fetired by Sinklllg fUnd-(V* 105' p'
NORTHERN SECURITIES CO.—See Industrials
NORTHWESTERN
PACIFIC RR.—(See Map Atch. Top. & 3. F.)
a system extending from
Point Tiburon and Sausalito. Cal.
(whence ferry to San Franolsoo, 6H miles), northerly to Eureka, with
branches, 518 miles in all.
Inoorp. Jan. 8 1907 in the interest of Southern
Pac. and Atch. Top. & San. Fe. which each owns
$17,500,000 stock.
V.
95, p. Ill; V. 96, p. 1489.
operates
N^*, Ps
8- /• $5,000 yearly calls at 110 and int.
Of the 1st A Refund. 4*s of 1907 ($35,000,000
auth.). $28,119,000 were
outstanding: Apr, 1 '21, $26,024,000 being owned by Sou. Pac.; the mtge. relerved $6,670,000 to retire a like amount of
underlying bonds, $5,000,000
tor Impts. and equip, and $13,324,000 for new
construction. Inci. line from
ShWely^ to Willi ts and from Wendling to connection
Healdsburg;
a.
f. $10,000
"il222; v- 9e-
yearly;
bonds
drawn
at
with main line at
110.
V. 84 d 221
P
1773; V. 98. p.1316.
*
The Calif. RR. Commission in June 1920 authorized the
company to issue
-
-
OCILLA SOUTHERN RR.—Owns Perry to Nashville, Ga., 110.4 m.
In 1918 was placed in hands of M. W. Garbutt, J. A. J. Henderson and
J. F. Gray, as receivers
Stock outstanding, $265,000.
For year ending June 301916, gross, $131,452; net, $2,038; 1914-15, gross, $93,491; net, $18,018 (V. 107, p. 182.)
OGDEN MINE RR.—Owns Nolan's Point (Lake Hopatoong) to Sparta
(or Ogden Mine), N.
o
,
Incorporated Oct. 9 1911 as
1911.
Stock $5,000,000. of
$3,724,375 outstanding Mar. 1920, given to oondbolder# of old com¬
pany in exchange for their sucurltles.
V.96, p. 1229.
Assessments: 1912,
$386,905; 1913, $96,423: 1914. $192,607; 1915. $114,381; i915-16. $114,298; 1916-17, $114,299; 1919-20, $93406.
Stockholders in 1914 authorized
$5,000,000 bonds.
V. 97. p. 1505; V. 98, p. 236, 611; V. 99, p. 748.
EARNINGS.—
Cross.
Oo.Oef. Oth.Inc
Deduct
Loss.
1919
$171,303
$84,155
$2,872
$6,724
$88,067
1918
$165,530
$44,700
$2,957
$6,548
$48,291
1917
187.449
17,041
1.551
4.791
20.280
Pres., F. W. Bradley; Y.-P. A Gen. Mgr.. Jonn G. Sutton; Sec. A Treas.
J. W. Crosby. Office, 5211th St., San Fran., Cal.—(V. Ill, p. 1084,1852.)
which
———
NORTHERN PACIFIC TERMINAL CO. OF OREGON.—Owns terminals
•n
Y. Ill,
m
made
Chas. W. Bunn, V.-P. & Gen. Counsel; H. A. Clifford, Treas.; E. A. Gay,
Sec. & Asst. Treas.
V. 110, p. 562.
N. Y. office, 34 Nassau St.—(V. 112,
p.
had abandoned the plan to extend the road to Santa Cruz.
S.alif. RR. Commission authorized the company to discontinue 1920 dis¬
194. The road ceased operations Aug. 16 1920. In Nov. and the
to Central RR. of N
J., 10 miles.
J
Leased for 999 years from Jan. 1 1882
for 5% per ann. on stock and $500 yrly. for org. exp.
OHIO CONNECTING RY.—Owns bridge over Ohio River near Pitts¬
burgh, Pa., and approaches, 9.11 miles.
Leased from Oct. 20 1890 for no
definite time to Pitts. Clnoln. Chio. A St. Louis; rental, net earnings.
Stock Increased in Deo. 1902<from $1,000,000 to $2,000,000, in $50 shares.
Bonds are guaranteed as to principal and Interest by endorsement by Penn¬
sylvania Company, which owns the entire stock.
Form of guaranty,
V. 81, p. 669.
Dividends in 1906, 5%; 1907 to 1914, 7%; 1915 to 1919,
Incl., 5% yearly.
For year 1919 Govt, compensation, $231,573; other inc.,
$5,757; total, $237,330; balance, surplus, after fixed and other eh&rges and
5% ($100,000) on capital stock, $7,245.—(V. 82. p. 752; V. 107, p. 1385.)
OHIO A KENTUCKY RY.—Owns from Lex. A East. Ry. at Jackson,
Ky.t to Oannel City, Ky.
Receiver was discharged in 1916.
V. 103, p.
Common stock. $200,000; pref. stock, $100,000.
1st M bonds are
guaranteed by Kentucky Block Cannel Coal Co.
Year ended Dec. 311920,
gross. $154,281; net def., $7,329.
Year ended Dec. 311919, gross $122,530;
net, def., $13,782.
2238.
'
OKLAHOMA CENTRAL
RR.—See Atchison Topeka A Santa Fe.
OLD COLONY RR. (MASS.)—Owns road from Boston to Provincetown,
Mass
Newport, R. I., Ac., 533 miles; leases 101 miles
In June 1907 a
bill was passed permitting purchase of Boston A Providence (leased line).
,
1893 leased to New York New Haven A Hartford for 99
Of the stock, $9,813,200 was on Dec. 31 1920 held by the lessee.
of 7% per annum on stock not exchanged.
Y. 76. p. 247. 374; V. 93. p. 1726, 1789; V. 94, p. 68.—(V. 103, p. 1211.)
LEASE.—In
$1,008,000 bonds, to be purchased by the Southern Pacific Co., nearly all
jf the amount to be used for improvement,
The lease provides for dividends
FEDERAL lOONTRACT.—Signed
in Jan.
1920, fixed the annual
•ompensation at $1,297,688.
The company refused the six months ex¬
tension of the Govt, guaranty.
The U. S. RR. Admin, in Dec. 1920 paid
the co. $525,000 as a final settlement of all accounts. V.
112, p. 162
OREGON & CALIFORNIA RR.—(See Map Southern Pac.)—Portland.
Ore., to California State line, 367 m.; Albany Jot to Lebanon, 11 m. Port¬
land to Oorvallis, 101 m.; Lebanon to Wood burn. 49 m.: Portland. Ore., to
Equipment trusts issued to Director-General for rolling stock allocated
See article on page 3.
to this company.
Jan.
EARNINGS—
Gross
Net after taxes
1921.
-
.
31
1920.
1-Mar.
$1,536,737
def.54.463
$1,538,491
66,924
Jan.
1 -Dec.
1920.
$7,867,940
1.169,560
31
1919.
$6,682,459
1,144,873
—(V, 112, p. 162.)
NORTHWESTERN RR. OF SOUTH CAROLINA.—(See Map Atlantic
Camden, 62 5 miles; branch.
Hill, 9.5 m.; trackage, 5 m.;
total. 81 miles.
Stock, $100,000.
Dividend. 6%. paid yearly Dec. 1900
Coast Line.)—Wilson Mill, S. C., via Sumter to
Millard to St. Paul, 3.5 m.; Mannvllle to Rose
years.
Air lee,
Ore., 74 m.; Mohawk Jet. to Wendling, 16 m.; Salem to Geer, 7 m.:
total owned. 680 m.
Springfield Jet. to Tall man. and branches. 54 m.;
Leased lines, all or mostly owned by Southern Pacific
p.
Co., 701
m.
V. 103,
12jL7.
LEASE, Ac.—XjC. soi. to Southern Paclflo Co. for 34 years from Aug. 1
1893, the isw
-u;ir-nteeing int. on the bonds and the lessor receiving any
net profit ant being charged with any deficit after payment of charges
Betterments ar* payable by lessor. South. Pac. owns "11 buf $47,000 of
the $19,000,000 stocx, >12,000,000 of which is 7% pref. V. 72. D. 287. Due
So. Pac. Dec. 31 1918. $5,633,438.
The U S. Supreme Court on Dec. 9
1915, In the Govt, suit Involving 2,300,000 acres in Western Oregon, per-
RAILROAD
Date
Par
Amount
Rate
When
Road
notes on page 6]
see
Bonds
Value
Outstanding
%
Payable
20
1882
488
—
1914
611
Oregon Pacific Ac East Ry—1st M $500,000 gold...
Oregon Short Line RR—First mtge (Ry Co) g ...zo*
Utah A North 1st M ext 1908 (V 86. p 1410)
_zo*
1878
1886
1897
488
Cons M gu 315,000 p m s f not drawn g
AB.zo*
Cons 1st M $36,500,000 g (1st M on 400 m) ..Q.xo*
Ref M 3100,000,000 g gu red (text)
Eq.xc* Ar
1.178
1904
Income bonds Series A 5% non-cumulative—_0Bz
do
Series B non-oumulatlve
Qz
First A Cons M 3150,000,000 g
1897
1897
1910
...
red text__Ce.xo* Ar*
...
Oregon-Wash RR & Nav—Com stk 350,000,000 auth.
Ore RR A Nav oons(now 1st) 324,312,800 g _.N.xo*
lst&Ref M 3175.000.000 ggu pAjl red 105.F.xo*Ar*
Oswego & Syracuse—Stock 9% guaranteed D L A W
500
1.000 Ao
500 Ac
500 Ac
1.000
35
1876
1883
1.000
Kentucky A N
orther
a
Amounts held
b Series
by public,
RR.
V.
£1 Ac
BONDS.— The
Southern
>8.—For cal. year
76
1.000
14
1915
l.OOOAc
and
other
53
1912
1.000
B." $ 5.000,
quantities
V 104. p 1703:
929
1917, gross oper. rev.. $11,500,725;
net.
Southern
the balance surplus carried
to
OREGON PACIFIC & EASTERN RY —Cottage Grove to Dlsston.
20 m.; branches, 4 m.
Successor Jan. 1914 to Oregon A Southeastern RR ,
V. 90
p.
Chambers of Cottage Grove,
1297. In Oct. 1917 J. H
Ore., was reported to have purchased control
V
105, p. 1618. Stock
auth.. $700,000 com. anu $300 000 pref.; outst od*ng, $200,250 common,
Union Trust Co
8an Fra ci oo. trustee. See table
p. 237.
ending Dec. 311920, total oper. revenues, $66,266; net oper. inc.,
$4,688; int., $16,662; bal., def., $22,972.
Pres. & Gen. Mgr., J. II. Cham¬
bers; Sec. A Aud., D. S. Minogue.—(V. 105, p. 1618.)
par.
$10.
.above.
Bonds.
V. 98
For year
OREGON SHORT LINE RR.—(See Map Union Pacific.)Mileage owned
1919: Main line and branches, 2,190 m.; trackage rights, 19 m.;
2,415 in.: deduct
2,347
but not operated,
owned
68 m.; total operated
B'way, N Y
do
and London
4H Del Lack A West RR.N1
165
do
New
York
do
do
do
do
Dec. 31
1919,
J 15 July 15 1942
A
J
A
Brown, S A Oo.LonAVict.
do
F
A
15 July 15 1942
J Jan 6 1925
N Nov 1 1949
A Feb
1 1937
4H g J
A
J July 1 1955
New York and Chicago
J
A
J July 1 1932
First Nat Bk, N Y A
J
J
M
5 g
5 g
A
A
6g
sterling
at $4.85 per £;
do
Nov 1914 laat paid
Not regularly paid
an
OhJc
additional $31,744,000
and
Interest
on
bonds.
Mch. 1 1907 are held In treasury
RR. Co. for 9% per year on $1,320,400
The 5438,000 7% Donds whloh matured
of D. L. 8c W.—(V. 106, p. 601.)
GREAT EASTERN RY.—Incorporated in
PACIFIC
British Columbia
early in 1912 to build from Vancouver, B. O.. to the Grand Trunk Pacific
at Port George, 480 miles.
Completed from Squamlsh Dock to Chasm,
180 miles.
Columbia, as owner of the property,
proceeding with construction and intended to build not only to Prince
In Oct. 1918 the Province of British
was
George, but also the contemplated
extension Into the Peace River District
107, p. 1580.
In the latter part of 1920 commenced operation of its
line, 65 miles in length, extending from Lone Butte, B. C., to Williams
Lake.
A line is being constructed from Williams Lake, B. C., to Deep
Creek, 16 miles.
«
V.
new
which received royal assent April 23 1918, the
1918 acquired the entire share capital stock
Great Eastern Equipment Co. and
Co., and had exercised its option
also on the lands and assets of the last-named, the promoters being released
rom their obligations.
There has been no change in the bonded debt, the
Province being
fully liable for both principal and Interest on bonds
V. 107, p. 1580, 1101, 182; V. 106, p. 929, 2123.
In Oct. 1917 the total securities
guaranteed by the Province of B. O.,
applying on the main line, amounted to $16,800,000, secured by a first
charge on the line, and $3,360,000 secured by a second charge, making a
total of $29,160,000, of which $14,234,805 (£2,925,000) have been issued.
The balance. $5,925,195. had been pledged to secure a loan of $4,800,060.
Under the
settlement,
Province of B. C. had In Oct.
of the railway ($25,000,000), the Pacific
the Pacific Great Eastern Development
5-year debentures, the proceeds to be
completion of road from rail head to Ft. George.
V. 110.
112, p. 1144.)
In Jan. 1920 issued $2,450,000 5%
for the
used
562—(V.
p.
m.
Own a half interest in San 1 edro L
P.
do
thereof to the Del. Lack. A Western
itook
Dec. 31
leased from Ore.-Wash. RR. A Nav. Co., 207 m.; total,
mileage
J
xOf which £ 3,782,400
Interest is
See V. 63, p. 754.
deductions,
do
I
1 1960
A
5
600,000
profit and loss being $47,272.
For 1919, income from lease of road, $1,083,315; gross income, $1,085,462; deductions,
$1,268,644; bal., def., $183,182 —(Y. 104, p. 1703,
V. 106, p. 929; V. Ill, p. 1567.)
foreclosed.
do
Deo
Office
956,000
5.000.000
Southern
payable Interest
$336,048.
do
do
A
J
1.027.000
Pacific Co.
$5,000.
From the rental ($1,333,970) was
we funded debt, $887,000, and on non-negotiable debt to affiliated com¬
panies,
do
do
D June 1 1946
J Jan
1 1961
F A A 20 Feb 20 1921
J
4H
T.565
' ,969.529: non-oper income. $1,333,970; rental from
r least of the property, $1,338,970; bal. loss to
after taxes,
Pacific Co.
do
Oct
4 g
2,450,000
1899
1907
Pacific guaranty of principal and
h of the 5% bonds.
on «
4
text
see
1920
76
greater than 160 acres and at over $2 50 per acre,
p. 67. 154. 1061. and (So. Pac.) 1347; V. 106. p.
EARN1N
1 1929
Sept
£2.925,000
£1 Ac
1912
1915
102,
printed
do
A
90
manently enjoined the sale of lands except to actual settlers In
not
do
do
D Deo
A
i*
do
July 11946
July 1 1946
A
RR
n
"A," $1,000: Series
Payable
165 Broadway, New York
San
..
are
J July 1 1933
J July 1 1926
J July 1 1946
A
1,320,400
text Matured
438,000 See text See
M
A
N May 1923
5
668.000
50
1,000
35
la owned by U. P
1 1922
A
Dividends
1 1934
A Feb
5 g
5 g
50.000.000
23.380.000
35
Francisco
Pacific Great Eastern—1st M 4H% guar deb stock
2d charge ranking aft 1st M <ru by Gov of B C 1915.
5-year debentures auth $6,000,000
Pacific & Idaho North Ry—1st M g s f 1% yly
G.zo
2d
M
$3,000,000 gold
Ce.o
Paducah & 111—1st M gu $7,000,000 red„UC.c»Ar»
Pan-Amer (Mex-Guat)—See Nat. Rys. of Mexico.
Paragould Southeastern—See St Louis Soutbw Ry
Paris & Mt Pleasant—1st M g red 105
FC.xc*
Paris-Orleans Ry Co—See text
J Jan
A
£ ff39866,140
Consolidated mortgage (guaranteed by D L A W) _ _
Construction mortgage guar (tor 31.000.000) —F-x
Overton County RR—See Tennessee
Ozark & Cher Cent—See St Louis &
9c
See text
Ac
100
A
1911
5g
a25,000
1,000
1896
1,135
Text
Ac
Places Where Interest mm
and Maturity
6 g
4 (7)
$330,000
14,931.000
4.991,000
1,672,000
12,328,000
45,000,000
a272,500
(b)
31,000
1,000
1,000
Dividend
Last
Miles
COMPANIES
[For abbreviations, &c.,
103
STOCKS AND BONDS
RAILWAY
Mat, 1921.]
a. A
8. L„ which see below.
V. 79
1795; V. 76. p. 91t. 1356: V. 77. p. 38.
Northern Ry., foreclosed per plan In V.
7. tl. p.
STOOK.—Stock.
871: V. 93,
p.
Utah
Controlled by Un.
V. 84, p. 52, 572, 932.
62, p. 504, 505.
Pac., which holds nearly entire capital stock.
CAPITAL
$100,000,000.
all in the U.
P. treasury.
1387. 1669.
$22,029,000. were reserved to retire old bonds
non-oumulatlve 5 per oents, have received: In Sept.*
BONDS.—First Consols,
Series
A
In ©ernes,
PACIFIC & IDAHO NORTHERN RY.—Owns Weiser to New Mea¬
In June 1918 the receiver appointed in 1915 was
reported as discharged.
V. 106, p. 2560.
V. 101, p. 846.
Stock, $2,929,800; par, $100. Bonds, 1st A 2d Ms., see table above. For year end. Dec. 31
1920, gross, $215,560; net, after taxes, $24,934; oth. inc., $4,858; int., digs..
Ac., $140,823; bal., def., $111,031.
Pres., Samuel Norris; Treas., James B.
Ford; Sec., John D. Carberr.v; Asst. Treas., F. D. Stover; Gen. Mgr.,
Le Grand Young Jr.
Office, Weiser, Idaho.
N.Y. office, 1790 Broadway.
—(V. 106, p. 2560.)
dows, Idaho, 90 miles.
HISTORY.—Suooessor March 16 1897 of toe Oregon Short Line A
PADUCAH & ILLINOIS RR—Line from Metropolis,
111., to Paducah,
1897, 4%: Sept. yrly. slnoe, full 5%, at N.Y. office or Old Col. Tr.. Boston.
The Ref. gold guar. 4s (oollat. trust) of 1904 (authorized Issue, $100,000.'
600) are subject to call at 102H.
The bonds, of which $45,000,000 have
been
sold, are secured by pledge of $8,700,000 Illinois Oentral stock,
Ky., 14 miles, including the double-track steel bridge over the Ohio River
completed Dec. 311917.
Owned jointly by Nashv. Chatt. A St. L. and
Ch. Bur. A Q., which use same as part of a route from Northern and Central
S,018,700 Chicago A North western Ry. pref. stock, $1,845,009 Chicago
ilwaukee A St. Paul Ry. pref. stock, $27,557,000 San Pedro Los Angelec
points t© the Gulf, and unconditionally guarantee prin., int. and sinking
hand (over $120,000 yearly) on bonds.
Stock auth.. $7,0OO,OOO pref. and
RR. stock.
The collat¬
eral may be replaced by other of eqnal value.
See abstract. V. 80, p. 249$;
V. 79, p. 2086; V. 80. p. 1913: Y. 96, p. 1424.
Of the 1st and Oonsol.M. bonds ($150,000,000 auth. issue, interest lim¬
ited to 5%), $34,422,000 are reserved to retire underlying bonds; Ser. A are
subject to call as a whole at 105; other series on such terms and at such
times as the dirwctorg or executive comm. may fix.
None sold to Dec. 1919,
but $41,487,000 wsrs then owned by Union Pacific RR. and $3,587,000
were in the treasury.
V. 91, p. 1512: V
92. p. 1179
A Salt Lake 4s
and $20,000,000 N. Y. C. A H. R.
Jan. 1—Mar. 31
1921.
EARNINGS.—
1920.
Jan. 1—Dec. 31
1920.
1919.
$7,947,998 $11,094,430 $44,906,043 $38,260,580
375,970
3,335,674
9,464,789
11,095,532
Gross
Net after taxes
—(V. 106. p. 1231.
OREGON-WASHINGTON
RAILROAD
&
NAVIGATION
CO.— Ser
Map Union Pacific.)—Owns from East Portland, Ore., to Huntington
Ore., 388 miles; Umatilla, Ore., to Spokane, Wash., 183 m.: Attalla to North
Yakima, Wash.. 98 m.; other lines, 33 m.; branches, 1,299
miles: total
owned, 1.972 miles, including 207 miles leased to Oregon Short Line RR.;
from Des Chutes RR., 95 m.; owned jointly with Chic. Milw. A
was
$10,000
$09.
The bonds ($7,000,000 auth.) are redeemable for sinking
ginning 1921 at 102H.
See offering V. 102, p. 67, 251; V. 103,p.
194, p. 664.—(V. 107, p. 1580.)
PARIS & MT. PLEASANT RR.—Owns Paris, Tex., to Mt. Pleasant,
Short line contract with U. S. Govt, was signed in Jan. 1919.
Y.
the
1st gold
certificates
($175,000,000 auth. Issue)
Series "A" are dollar t »nds. Series "B" sterling
bonds, each redeemable (but not part of either) at 105 an any int. day on
96 days' notice.
Sterling bonds are exchangeable for dollar bonds at $4 85
on payment of $15 per £100 bond.
See V. 102, p. 801. 2255.
The bonds are a first lien on about 767 miles of road owned and a lien,
•ubjeot to $23,380,000 Ore. RR. A Nav.4s. on 1,135 additional miles, od
70 miles jointly owned and 133 miles of trackage. See V. 92, p. 1500, 1566:
$23,380,000 are reserved to refund the Ore. RK. 4s: In Dec. 1919. $39,806,140 were held by public: $31,744.000 were held by Union Pac. RR., $253,000
vera in treasury and $79,782,180 were reserved for extensions, improve¬
ments, acquisitions, equipment, Ac., as In V. 92, p. 1500; V. 92. p. 1437.
1324. 1600; V. 94. p. 699: V. 106. p. 715.
An abstract of Oregon RR. A Nav
Consol. M was Id V. 63, p 928
BONDS.—The
1st and Ref. 50-year gold 4s
A i. by U. P.
Jan. 1—Mar. 31
EARNINGS.—
Gross
Net
after
1920.
$8,386,095 $33,060,169 $28,367,603
1,350,571
628.725
4,065,841
182, 697. 1288; V. Ill, p. 1950; V. 112, p. 563.)
taxes
—(V. 107, p.
1921.
Jan. 1—Dec. 31
19201919.
$6,429,083
def.700.859
OSWEGO & SYRACUSE RR.—Owns from Oswego, N. Y„ to Syracuse
Y.. 35 miles.
Leased in 1869 during length of charter and renewal*
N.
($2,000,000 auth. Issue),
$600,000 have been sold,
Receivership.—R. W. Wortham of Paris, Tex., was appointed
consignees
are guar. p.
6s
receiver by
Judge Ben H. Denton In March 1920 on the petition of T. D. Wilson and
S. G. Norris of Detroit, alleging that the road waa in a rundown condition
and there were 350 cars of freight awaiting transportation and delivery to
rights, 207 miles; total operated Dec. 31
miles leased to outside companies and 207 miles leased to
Oregon Short Line RR., 2,070 miles.
Also over 187 miles of water lines
ORGANIZATION.—Incorp. In Oregon Nov. 23 1910 and on Deo. 23
1910 took over by purchase tne Oregon RR. A Na> . Co., North Coast Ry..
affiliated lines controlled oy the Union Pacific.
V. 91, p. 1447, 1512,
1030, 1768.
Stock auth., $50,000,000; $49,998,500 owned'by Ore.Sh.Llne
Stock authorized,$75,000.
108, p. 379.
Of
tgainst the present property (53 miles), Including terminals, rolling stock,
Ac., the remainder being reserved for future construction.
Redeemablf
since July
1 1915 at 105 and Int.
Sinking fund 5% of gross earnings
x'glnning Jan. 1 1915, to be invested In income-producing securities or ap¬
plied to redemption of bonds.
V. 94, p. 1509.
St. Paul Ry., Ac., 74 m.; trackage
(excl. 71
fund be¬
2342; V.
53 miles.
leased
1919
outstanding. $10,000, all, except directors' shares, owned
pledged with the mortgage trustee.
V. 99,
common,
by the guarantors and by them
p
on
which demurrage and other charges were
The receiver
was
accumulating.
receiver's
authorized, in July 1920, to Issue $100,000
for repairs and equipment.
Dec. 31 1920, gross, $143,229; net oper. def., $136,017;
4,555; deductions, $86,139; bal., def.
$217,601.
Pres.,
Treas., R. J. Murphy: T. J. Recard, Treas. for Receiver.
Office, Paris, Texas.—(V. 110, p. 1089; V. Ill; p. 589, 990, 1183.)
For year ended
other
R.
F.
income,
Scott;
PARIS-ORLEANS RR. CO.—Organized Jn 1838 to operate a railroad
As a result of subsequent mergers, pur¬
line between Paris and Orleans.
chases
and construction, now owns and operates
in France.
of other companies
second largest system
the
Mileage.—System covers about 7,800 kilometers, or 4,848 miles.
The
lines serve (a) the central part of France, providing a dircet route between
Paris and the important seaports of Bordeaux, Nantes and St. Nazaire and
forming part of the through lines between
Spain; (b) rich agricultural districts; (c) the
Paris and Southern France and
industrial centres of Montlucon
(coal) and Limoges (porcelain); (d) through the western ex¬
tension the south coast of Brittany; (e) the Yalley of the Loire and the
Aubergne Mountains, carrying a very heavy and profitable tourists' traffic.
(iron), Albi
Government
Guaranty.—A law enacted on Nov. 20 1883
provides that the
amount necessary in addi¬
and amortization of the bonded
debt and to make an annual distribution on the capital stock of frs. 56 per
share of frs. 500. Any amounts so advanced are to be repaid with int. at 4%
p. a. out of any future surplus remaining after paying tne div. on the stock.
This agreement continues in effect until Dec. 31 1956 (the end of the
French Government shall advance
each
year any
tion to the net income to cover the interest on
concession of the
bondholders and
company) and contains similar provisions to protect the
stockholders in case the Government should take over the
company's property prior to that date.
K
o
w
fc
I
XIX
Q
w
QQ
o
td
o
xn
t
K
'
.
.
•
'
••••
"
*
CD
fcO
B
h
00
o
o
w
00
o
w
o
*
B
00
o
RAILROAD
Miles
notes on page 6]
see
Date
Par
Amount
Rate
When
Last
Bonds
Value
Outstanding
%
Payable
and
Maturity
8
$130,000
298,000 5 in J 920
$50
Peterson & Hudson Riv—Stock 8% rent N Y L E & W
Pater son & Rarnapo— Stock (rental guaranty)
remix*wasset Valley RR—Stock (rental guaranty)..
Pennsylvania RR—Stock auth *600,000.000
Tr
50
100
541,500
50 499,173,400
2.352.000
1,000
(Gold coup s t 1% not dr
kv.c*
$100,000,000 Sterl (s f in 1900) not dr_kv.o*rAr*
1463
1463
1893
1895
1895
$1,000
1908
£200
1908
-1908
1915
1881
1908
1915
1918
$1,000
1,000
4 g
5,267.100
1463
See text
14.570.000
Sterling
kv.c*Ar»
do stamped payable in $kv.c*Ar*
Gold dollar bonds
..kv.c^Ar*
Gold
xc*Ar*
all
secures
equally
G.P.
1463
1463
Bonds (P W k B stock as coll) (V 108, p 481)__kr.r
New York Phlla 6t Norfolk stock trust cert
kv
2834
2834
Genera) mortgage gold
...
GP.yc*Ar*
do
do
6% bonds 8eries B ,-yc^Ar*
do
do
Ser C $110,000,000 pledged.
gold bonds
c*&r*
do
do
xxxc*Ar*
10-year collateral note
Bonds of Cos. Merged in Pennsylvania RR.—
zo
44
zo&r
.GuP.vo*
PlP.kvo*
Allegheny Valley gen (now 1st) M g. FPi.kv.c*Ar
Junction (Phila) Gen M (now first) g$725,000 ..kv
Pitts Va A Ch first mtge gold gu p & l.(jP.kvo*<fci
Cambria A Clearfield 1st M (V 96,p. 286) g CP. kvo*
Cambria & Clearfield Gen M $7,500,000
kv
Clearfield & Jefferson first mortgage.. GuP.kvc*
Pennsylvania A N W gen M $2,500,000. GuP.kve*
Harrlsb PortsmuMt J A L 1st M ext In 1913__Gp.ki
44
Second mortgage Income
*...
Sunb & Lewis first mtge *600.000 p&l g
West Penn consol mortgage g assumed
56
91
1904
1891
1905
1886
1890
1853
57
87
72
FPx
gold M-F.xc*Ar
Suaq Blooms k Berwick—First M g
Denom. fr.
thereof are subject to French taxes.
Redemption.—The concessions of the French railroad companies stipulate
expiration of their concessions, their property, except rolling
stock and certain other working assets, shall revert to the Government
free of charge.
The companies have, therefore, with the approval of the
French Government, adopted a plan of amortization which provides for
the total redemption of their funded debt, and for the repayment of their
capital stock by the time of the termination of their concessions.
The amortization plan provides for semi-annual drawings at par of a
gradually Increasing number of bonds, sufficient to retire the entire issue
by Dec. 1 1956.
Drawings under this amortization plan are made annu¬
ally and the bonds drawn will be payable on Dec. 1 each year, beginning
Dec. 1 1921.
See V. 112, p. 563.—(V. 112, p. 563, 653 )
holders
A
HUDSON
RIVER—Owns
from
Jersey
Marion,
City,
N.J. (south to Bergen Junction), to Paterson, N. J., 14 miles: single-track
Leased la perpetuity (at $48,400 per year for road, $5,000 for rent of lot
Ac.) to Erie RR.. faming part of main line.
Erie has built
a
second track
PATERSON & RAMAPO RR.—Owns from Paterson, N. J.f to New York
State line, 14 miles; single-track; part of main line of Erie RR., to whlofc
leased Sept. 1852 during legal existence, at $26,500, and which has built a
second track.
Dividends have been paid at various rates.
In 190B-07.
82%; in 1907-08 and 1908-09. 8%: In 1909-10, 6%; 1910-11 and 1911-12.
1913-14. 4%: 1914-15, 8%: 1915-16. 6%; 1916-17. 6%; 1917-18 5%.
1918-19, 5%; 1919-20, 5%.—(V. 99, p. 1833.)
PEA'I'IBWASSET VALLEY RR.—Plymouth. N. H„ to Lincoln, N. H,
Leased to Boston A Maine for 6% on stock.
21.41 miles.
PENNSYLVANIA-DETROIT RR.—Incorp. in Michigan Feb. 27 1917
with
an
auth.
RR. Co.
a
capital stock of $5,000,000 (par $100), to build for the Penn
52-mile road extending from the Ohio-Michigan State line north¬
ward through Monroe and Wayne counties Into Detroit.
V. 104, p. 1146
PENNSYLVANIA RR.—(Seg Maps.)—The system, as shown on tin
adjoining maps, extends from New York City westerly, via Philadelphia
to
Pittsburgh, Erie, Cleveland, Tol do, Chicago and Burlington on the
north and to Washington, Cincinnati, Louisville and St. Louis on the south.
The total system on Jan. 1 1920 aggregated 12,053 miles.
On Jan. 1 1921
the lines included in the company's results aggregated 7,358 miles.
Aggregating
on
Rail lines owned___
6.000.000
413,000
1,000,000
1,021,000
3,935.43
Rail lines under trackage rights
Total
391.37
...
Ii
ines
Penn System—Lines East of Pitts. & E.
Miles.
West of Pitts,
Bait. Ches. A Atlantic
Miles.
1,754.32
87.61 Pitts. Cin. Chic. A St. Louis.2,383.65
394.56 Grand Rapids A Indiana
562.45
82.62 Cincin. Lebanon A Northern
76.17
108.25 Ohio River A Western
111.95
Long Island-.
Maryland Del. A Virginia
Monongahela Railway
N. Y. Phila. A Norfolk
121.57 Toledo Peoria A Western
West Jersey A Seashore
Other lines—
363.18 Lorain Ashland A Southern.
•„
59.12 Other lines
6,789.28
Total
247.82
Miles
Maryland A Virginia.
Elmira A Lake Ontario
Elmira A Williamsport
_
Erie A
Little
Pittsburgh
Miami
...204.79
82 97
194.87
Pitts. Ft. Wayne A Chicago..470.98
Pitts. Youngstown A Ashtab__137 57
Terre Haute A Peoria
145.07
Toledo Col. A Ohio River
345.14
ORGANIZATION, LEASES, Ac.—The charter of the Pennsylvania RR
wa%dated April 13 1846.
As to agreement in 1917 to take over the prop¬
obligations of the Pennsylvania Company, see that
company's statement below, and V. 106, p. 1031.
erties and assume the
do
Jan
1 1927
do
do
A
Jan
fio
do
do
do
1 1941
Broad
St
A
1 1980
July 1 1943
July 1 1951
Apr 1 1940
Oct 1 1952
A
May 1 1923
A
M
Station,
Phlla
do
,
Treasurer's Office, Phllt
Fidelity Trust Go, Phlla
Office Phila A New Yorl
that, effective Jan. 1 1918, or such later dates
might be determined, the leases of railroad property held by the Penn¬
RR., and the lines west
ef Pittsburgh operated directly by the Pennsylvania RR., through the same
officials who had heretofore been In charge of the operation of those lines.
In pursuance of this plan the Penn. RR. Co. had resumed In Oct. 1918
operating under lease the Pitts. Ft. Wayne A Chicago Ry., Cleveland A
Pittsburgh RR., Erie A Pittsburgh RR., and Pitts. Youngs. A Ashtab.
Ry. V. 107, p. 83, 284: V. 106, p. 86. 1031; V. 105. p. 2094. 2184.
During
1618 accordingly the Pennsylvania Company was relieved of the operation
of all the aforesaid lines, which were operated directly by the Penn. RR.
Co.
as
its "Western Lines."
System Operated as a Unit.—It was announced in Feb. '20 that, effective
March 1 1920, the system would be operated as a unit iastead of being
subdivided as formerly between the lines east and west of Pittsburgh.
The system will be divided into four regions, each In charge of a Vice-Presi¬
dent, the headquarters of the respective regions to be at Philadelphia,
Pittsburgh, Chicago and St. Louis, to be known as the Eastern, Central,
Northwestern and Southwestern regions, V. 110, p. 658.
May 1920 announced that the West Jersey A Seashore RR. and the
Phila. k Norfolk RR. will hereafter be designated as the Atlantic
See V. 110, p. 2193.
Working agreement with men, V. 112. p. 162.
In March 1916 incorporated the Penn .-Detroit RR. with $5,000,000 stock
to build a 52-mile road from Ohio-Michigan line northward to Detroit,
▼
104. p. 1146; V. 106, p. 1031; V. 107. p. 291.
In April 1918 took title to the Susqhehanna Bloomsburg k Berwick RR.
a 42-mfle line
Wataontown to Berwick, Pa., Ac., with $700,000 First Mtge
gold 5% bonds outstanding.
V. 106. p. 2011.
On Jan. 1 1921 leased for 999 years the Grand Rapids A Indiana Ry. and
the Pitts. Cin. Chic. A St. Louis RR.
V. Ill, p. 1753, 1950.
The stockholders on March 4 1921 approved: (1) the leases of 16 railroad
properties (V. 112, p. 162) now constituting portions of the system and con¬
trolled through stock ownership; (2) an increase in the company's indebted¬
ness of $100,000,000;
(3) changes in the dates of the annual meeting from
the second Tuesday in March to the second Tuesday in April, beginning
with the year 1922, and the annual election for directors from the fourth
Tuesday in March to the fourth Tuesday in April.
The company has applied to the I -S. C. Commission for authority to
lease in perpetuity the property of the New York Philadelphia A Norfolk
RR., beginning July 1 1921.
V. 112, p. 745,470.
Has also asked authority
to purchase from the Pennsylvania Co. the stock of the Pitts., Ft. Wayne
A Chic. Ry.
V. 112, p. 2191.
In
N.
Y.
Division and the Norfolk Division, respectively.
.
on Dec. 31 1920
$413,453,178. many of which are pledged to secure Pennsylvania Issues.
0, 516.034,375.
The securities
Include $7,753,800 Sou. Pac. Co. stock, $38,757,700 (common) stock of the
Norfolk A Western, and $5,312,500 stock of N. Y. N. H. A H. RR. Co.
also $13,589,300 Liberty Loan 4
With a view to complete stock control of the Pittsburgh Cincinnati Chi¬
cago A St. Louis RR., the directors of the Penn. RR. Co. and of the Penn.
Co. on Mar. 10 1920 offered to purchase the minority stock of the Panhandle
SECURITIES OWNED.—T otal book value of these
was
Revenue derived from these securities in 19
Co. and to pay
latter
oo.
for the same, par for par, in new 50-year mtge. bonds of the
when issued to the Penn. Co
,
bearing int.
at the rate of 5% p. a.,
tts. Cin.
Kin. A int. Chic. A St. L. RR. below.
to be guaranteed by the Penn. RR. V. 110, p. 1188. See also
Co. also offered to acquire the minority shares of the
A Indiana Ry., by exchanging therefor, par for par, 2d mtge.
bonds of the latter company, held in its treasury.
The Pennsylvania
Grand Rapids
4%
DIVIDENDS.
'93 to'99.
5 yrly.
1900-'05-'06.
6 yrly
1906.
6H
*07.
7
'68 to '20.
6yrly.
1921.
text
In 1893 paid also 2% in scrip.
Paid in 1921: Feb. 28, 1M%; May
V.
112, p. 1867.
112, p. 1867.
V.
31, 1%, reducing annual rate to 4%.
For resume of dividends paid since organization, see
STOCK.—Stockholders of record May 5 1913 subscribed
($45,387,750) at par.
No. of shareholders, V.
10% in new stock
110, p. 964.
BONDS.—Consolidated mortgage of 1873 (see In V. 86, p. 1043, 1101)
June
1915 covered 993.01
in
miles of road by a first lien and by supplement
1913, 409.47 miles by a subsequent lien.
1169. In 1916 majority of 4% sterling bonds of
bonds. V. 101, p. 2072, 2255; V. 103, p. 321.
dated
V. 100, p. 399. 475. 819,
1908 were stamped as "$"
Bonds of 1915 (V. 98, p. 695) are a direct obligation
and are secured by a mortgage on its property subject to
amounting to approximately $165,000,000.
The prior Hens
mature from 1919 to 1960. cannot be increased and a sufficient amount of
bonds authorized by this mortgage is reserved for their retirement.
The General Mortgage
liens
Data
Regarding Issuance of General
Mortgage Bonds of 1915.
Authorized, limited to paid up capital stock of the company
outstanding at the time of issue, which is at present
$499,265,700
Ikfilcs
Cleveland A Pittsburgh
I 1955
A
1 1943
Station, Phila
Office Phlla A New York
In Nov. 1917 it was agreed
prior
80.35 Cine. Richmond A Ft. Wayne. 85 76
245.15 Cleve. Akron A Cincinnati
335.20
97 64
99.72
73 49
Northern Central
144.45
Phila. Bait. A Washington—414.47
United N J. RR. A Canal
165.71
Western N. Y. A Pennsylvania535.32
Delaw
Feb
St
of the company
Principal Leased Lines.
Delaware RR
Jan
A
5
66.49
-12,053.23
Belvidere Delaware RR
Nov
A
4
61.10
5,263.95"
Grand total
A
Broad
as
CAPITAL
A Lake Erie.
-5,572.37 Pennsylvania RR
1 1930
I
sylvania Co. should be reassigned to the Penn.
for
67.00
,
_
Pennsylvania RR
Total
"
"
.7,358.01
__
Canal and ferries
Apr
S*
700.000
3,031.21 miles
___•
A
tg
fg
529.000
Dec. 31 1920 7,358 Miles Included in Penn. RR. Result*
Rail lines under leases and contracts.,__
Office Phlla A New York
3X e
Percent
Lines
1 1942
4 g
bonds (French series).
Stock Exchange, but
do
Mcb
700.000
that at the
PATERSON
582.000
A
*
2,000.000
Convertibility .—The company agrees to exchange any bond of this issue
at Its Paris office at any time prior to the drawing of such bond for redemp¬
do
do
A
4
1,000
1,000.
do
4 g
A
Wall St.,
future, if
Broad St Station, Phlla
do
do
July 1 1936
June 1 1928
3)4
5 g
Tax Exemption.—Under a recent French law these bonds are payable,
principal and interest, without any deduction of French taxes, present or
future, provided they are held by a non-resident of France.
tion without expense for an equal face amount of 6%
These French Series bonds are listed on the Paris
A
4 g
In Feb. 1921 A. Xselin A Co., Halsey, Stuart A Co., Inc., and Hemphill,
Noyes A Co., New York, offered frs. 50,000,000 6% bonds (Foreign Series),
Interest
by non-residents of France.
A
J
931,000
449,373,500
28,172,000
7,893,000
1 1930
1 1936
May 1 1928
May 1 1938
A
M
4 g
1,073.000
Bonded Debt.—On Dec. 31 1920 the bonded debt was as follows (in francs):
bonds of 1848
8,536,250 2y2% bonds of 1895—294,250,000
held
M
6
1,000
1,000
Capital Slock.—Frs. 300,000,000, divided into .600,000 shares of frs. 500
redeemable at par, by semi-annual drawings, not later than 1956.
from Dec. 1 1920, payable J. A D. at office of A. Iselin A Co., 36
N. Y. City, without deduction for any French taxes, present or
5
1970
Nov 11 1930
A
each, of which 214,859 shares have been retired at par.
These shares have
The stock is listed on the Paris Bourse.
1,306,438,000 4% bonds of 1913
% bonds Gr. Central.
106,548,500 5% bonds of 1919
% bonds of 1884
1,529,154,000 6% bonds of 1920
A Feb
AO
been replaced by beneficiary shares.
1 1968
A
285.000
1,349,500
500,000
4.000,000
19.002,000
Office. Phlla ANY
do
do
D June 1 1965
D Dec
A
%
g
A
1,000
1890
1902
1893
Vo bonds old issue
D June
A
A
4H
5
7 g
500 Ac
1,000
1911
42
Hollldaysburg Bedf A Oumb 1st M g gu ass. kxxc»
A
A
6M g F
6
&o
600
A Aug
J July
A
g
4
50,000.000
1,000
1.000
1,000
1,000
1,000
1,000
3 •00-07
102
MAN May
Checks mailed
31 *21 1% Office. Phila ANY
Treasurer, Phlla ANY
1 1943
London. England
1 1945
Office, Phila ANY
1 1945
London, England
1 1948
Office, Phlla ANY
1 1948
Office, Phila ANY
1 1948
do
do
1 1960
Penn Co for Ins, Ao.Phlla
1 1921
Fidelity Tr Go. Phila
1 1948
60,000.000
100 Ac
1,000
1892
407
MAN May
MAN May
4 g
6,780,000
100
May
MAN May
A
J July
A
J July
Q—F
3%
1921
O Apr 1
O April
500 Ac
500 Ac
1888
Glrard Point Storage 1st M guar p A l by Penn..kr
Penn RR real estate purcb money
>
1896
140
20,000.000
do
text
4 g
4
49,000,000
5,199,000
7,272,000
1.000 124.255,000
1,000 49.973.000
1.000
Pledged
1878
1878
264
g
J See
A Feb
Where Interest ani
Dividends are Payable
4% Paterson, N J
Jan 1921
A
4
1,000
1,000
1921
1920
......
3 H g
3*
1,000
1920
1920
2,834
Secured
Sunk Haz & Wllk llrst Series A drawn at 100
£200
J
A
A
F
6
12.668.380J
do stamped pay'Ie In $_kv.cAr
1463
1463
Consolidated
of
Sow 1873
1st)
Places
Dividend
Road
COMPANIES
[For abbreviations, &c.,
[Vol. 112.
STOCKS AND BONDS
RAILWAY
106
Outstanding including $60,000,000 sold in
$745,000 in sinking fund Dec. 31 1919
do
series B issued in 1919, chiefly for
March 1917, and
125,000,060
additions and im-
provements and purchase of Trenton RR
do
Series C pledged as security for $50,000,000 10-year 7%
Secured gold bonds of 1920 and $60,000,000 6 H % gold bonds
of 1921--.
Reserved to retire equal amount of prior I lens
Issuable when and as voted by stockholders
50,000,000
110.000,000
161>005,895
112,659,806
Mtge. 4tfs $65,000,000 was sold in May lQlS JV. lOO^p
1593) and $60,000,000 in 1917 (V. 104. p^1388;1V 105, p. 1105): $50,000.
000 Gen. Mtge. Series B 5s were sold in Dec. 1918.
V. 107, p. 2376.
The 3Hs of Glrard Point Storage Oo. became a direct obligation of Penn
RR. on dissolution of Storage co. in 1917.
V. 105, p. 1310, 1623, 2543.
Of the Gen.
May, 1921.]
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations,
&c.,
see
107
Miles
Date
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
Last Dividend
and Maturity
Places Where Interest and
Road
notes on page 6]
Q—-M
To June 1 1922
Fidelity Trust Go, Phila
Dividends are Payable
....
Pennsylvania RR (Concluded)—
•
•
Equipment Trusts—
Gold gu pAdue$700,000yeariy (V 94, p 1566)-FPx
do
g $1,970,000 yrly (V 96. p 1702) —FPr
do
due $3,468,000 yearly
—
G
•
1912
1913
1920
m»»m
Pennsylvania
Company—Bonds gold guar—kvo*Ar
Quartr oerts $5,000,000 g gu Pa RR Ser A
kvr
do
10.000,000
do
Ser B QPkvo*
5,000,000
10,000,000
10.000,000
do
do
do
Ser
C-._kvc*
'
V
SerD GPvkc*
SerE.GPkyc*
Gold loan red after 15 yrs (gn V 83, p. 1229) -GPkvc*
Gold loan callable guar
GJPc*
Pennsylvania A North Western—See Penn. RR____.
Peasac Mob A New Orl—1st M $350,0001 red 105
Fx
Peoria A Bureau Valley—Stock rental (see text)
Peoria A Eastern—Ind Bloom A W 1st M pf-Ce.zcAr
Ohio Indiana A West 1st M pref g intguar
Ce.xc*
Peo A E 1st (cons) M $10,000,000 Int guar __Cex.c*
income M int when earned non-cuxnulative_.Ce.se
?eoria A Pekin Union—First mortgage g (ext) .Ce.xc
Second mortgage gold (ext)
Ce.xc
Debentures due $45,000 y'ly (In 1930 $30,000)
s
do
de
$37,500-$38,000 y'ly
Peoria Ry Term—1st M gu g red 102H beg '16_IC.se*
1st A Ref M g gu (owned by O R I A Pac Ry)-Ba.»
do
do
M
«■«.
«*
mm
1912
1906
1915
**
Additional held by company Dec.31 1920, a $129,000
y On Dec. 31 1920 $13,061,818 additional held by
r
.
1.000
1913
-
47
202
100
100 Ao
500 Ao
1879
1888
1890
1890
338
338
338
20
20
4 g
$700,000
1.600
3,940,000
1,000 48,544.000
1,000 bl4,714,000
1,000
3.964,000
1,000 a 7.727,000
1.000 c 4,035,000
8,575,000
1,000
1,000 ©9,452,000
1.000 20,000,000
1.000 y24,469.322
1881
1897
1901
1902
1904
___
do
$1,000
1,000
1,000
1,000
1.000
1.000
1881
1885
1911
1910
V,66o
1907
1911
1.000
b $3, 079,00 0;
c
Apr 1 1922-1023
4Hl
J A J 15 To Jan 15 1935
A
J July 11921
4H g J
3H g MAS Sept 11937
A
A Feb 11941
3K g F
6
g J
A
D Deo
A
D Deo
MAN May
A
A
4 g
O Apr
4H z J A D 15 June
3H
3H
g J
4 g
11942
11944
1 1952
do
e
Penna RR,
New York
and
Girard
Tr
Oe.
Philadelphia
11931
15 1021
Pa RR N Y A Phila
I'
d $8 0,000;
Pa"RRN V lefA Pitts fr>
>
F
A
5 g
A Feb 11933
350,000
A
A Feb 1921 3H%
1,500,000 7Min'20 F
A
A
4
O Apr 11940
964,500
Q—J
500.000
Apr 11938
A
A
O Apr 11940
8,376,000
4,000.000 Up to 4
Apr 11990
(a)
Feb 11926
1,495,000
Q—F
lg
MAN Feb 11926
1,499.000
7g
MAN 1924 to 1930
5 g
300,000
F
&
A Aug 1921 to '23
5
113,000
J
A
J Jan 2 1937
4 g
944,000
A
D Deo 11941
1,500.000
4Hg J
$4 2,000;
do
g
Bai&<m~Trust Co.N
Treas office, N Y
do
do
do
l"
do
4% paid April 11913
Central Un Tr Go, NY
do
do
do
no
4
de
de
First Nat Bank. N Y
do
de
$80,000.
comp any.
When earned.
The 10-year 7% gold bonds due April 1 1930 are secured by deposit of
$50,000,000 Penn. RR. gen. mtge. 6s, series 0,1970, and $5,000,000 Phila
Bait. & Wash, new gen. mtge. 6s. V. 110, p. 1527.
„„The 15-year
gold bonds due Feb. 1 1936 are secured by deposit of
$60,000,000 Penn. RR. gen. mtge. 6s, Series C, 1970, and $6,000,000
Phila. Bait. & Wash. gen. mtge, 6s, Series A, I960.
Proceeds to be used
for purchase of
equipment, from Pennsylvania Co., purchase of $1,704,420
stock of P C. C. & St. L. RR. and $20,466,100 stock of Pitts. Ft.
Wayne A
Chicago Ry., Ac.
V. 112, p.
1025.
Equipment trusts issued to Director- General for rolling stock allocated
to this company.
See article on page 3.
/
Government loan, V. Ill, p. 1753, 2229; V. 112, p. 1978.
V. 112, p. 984.
Wage reduc¬
tions,
^Annual compensation under Federal operating contract for Penn. RR.
Co. and subsidiaries operated or wholly owned east of Pittsburgh is $53,$03,427, the amount, according to Penn. RR. Co., being $51,378,410;
for the lines west of
Pittsburgh, $15,154,719.
,
EARNINGS.—
Gross
_
_
_
1921.
_____
Net after taxes.
REPORT,
V. 108, p. 966, 1165.
-Jan. I—Mar. 31
„
Jan. I—-Dec. 31——
1920.
1919.
1920.
124,594,915 115,867.675 566,860,758 489,270,945
701,432df15,423,516df41,782,742
18,461,083
For cal. year 1920, in V. 112, p. 927, showed:
1920.
1919.
1918.
:_
7,625
7,327
7,116
Fed.«comp. A net railway oper. rev. *$63,103,867 $67,126,464 $65,992,740
Dividend income..________________ 14,771,513
13,846,458 .15,059,282
Miles of lme_____
____
ORGANIZATION.—Chartered In Penna. April 7 1870.
DIVS.—\ '06. '07. '08 '09 'lOto'13. '14. *15. "16 '17.'18.4 19.
Percent..)
_
7,860,826
1,930,495
6,004,236
1,538,229
8,062,560
3,324,888
Total gross income
______.$87,666,701 $92,360,370 $88,594,487
Deductions from Gross Income—
Rent for leased road_______________$22,741,979 $21,872,405 $21,282,019
Rent for Penn. Co.
equipment.
Miscellaneous rents
Miscellaneous tax accruals
War taxes—
_______
_______________
Separately operated properties—loss.
Interest on funded debt.
Interest on unfunded debt
Maintenance of investment organiz'n
Miscellaneous income charges.
742,270
683,397
72,529
1,734,248
137,121
18,448,750
7,826.208
227,475
2,251,050
1,113,405
815,920
125,826
2,823,945
1,113,405
629,252
154,431
3,827,649
10,805
15,716,686
3,675,912
13,509,569
2,848,042
371,640
1,006,851
2,339,321
776,777
Total deductions from gross income $54,865,028 $49,492,271
Net income._
$32,801,673 $42,868,097
Disposition of net income—
$44,523,588
$44,070,899
_______
Sinking and other
Dividend
(6%)
funds.__ $2,239,790
4—29,950,404
reserve
—
$2,416,678
29,950,704
$2,313,202
29,950,704
Balance transferred to credit of P.&L
$611,479 $10,500,717 $11,806,994
*
Composed of Federal compensation accrued (2 months), $13,156,968;
income accrued under 6 months guaranty, $37,981,813; net railway
operat¬
ing income, $11,965,085.
Income Account East and West of Pittsburgh <& Erie.
^
Calendar Years—
Miles operated
Gross earnings
Gro««lncome.
1917.
1916.
12,129
_
12,125
*1915.
12,103
___—.494,261,038 443,462,523 374,938.638
127,153,511 148,517,521,122.638,972
70,652,309
72,567,407
7,495,315
21,760,921 104,951.303
42.508.857
43,814.137
_
interest, rents, sinking fund, Ac
improvements, Ac
Dividends
-
Balance, surplus
6.497.029
10,375,056
17.687.666
REPORT OF PENNSYLVANIA RR. (LINES EAST OF PITTSBURGH &
ERIE, INCLUDING NORTHERN CENTRAL RY.)
Year ending Dec. 31—
1917.
1916.
1915.
allies operated end of year
4,543
4,536
4,541
Gross earnings
$255,693,946 $230,278,533 $196,628,170
Met earnings
54.505.416
$64,113,051
$53,891,609
Accrued taxes. Ac
16.241.002
9.057.940
7.640,684
_
Operating income
Gross income
Rental,
_____
interest.
Dividends
Ac
(6%)---
Additions and betterments
Construction on branches
Balance, surplus.
_\
__
,m4
$44,264,406
$65,983,652
28,889,094
29,951,099
$55.064.911
$78,230,874
______
28,083,329
29.962,252
9,214,925
3.713.786
7,143,459
$7,250,682
______
$46,250,925
$66,626,245
26,147.264
29.952,219
7.286,849
3.239,913
None
OFFICERS.—Pres., Samuel Rea; V.-Ps.. W. W. Atterbury. J. J.
Turner, M. C; Kennedy, G. L. Peck, Geo. D. Nixon, A. J. County and
Henry Tatnall; Treas., J. F. Fahnestock; Sec., Lewis Neilson; V.-P. in
charge of regions: Eastern, Elisha Lee; Central, James A. McCrea; North¬
western, J. G. Rodgers; Southwestern, Benjamin McKee.
V. 110, p. 658.
New York office, 85 Cedar St.
DIRECTORS.—Geo. H. McFadden, Charles E. Ingersoll, Samuel Rea,
Clement B. Newbold, Geo. Wood, C. Stuart Patterson, Joseph Wood,
W. W. Atterbury. Geo. D. Dixon, Henry Tatnall, A. J. County, E. B.
Morris, Thos. De Witt Cuylor, Levi L. Rue, Edgar C. Felton.—(V. 112,
p. 373, 470, 745, 850, 927, 933, 1025, 1144, 1618, 1867, 1978, 2191.)
PENNSYLVANIA COMPANY.—(See Maps Pennsylvania RR.)—Oper¬
ated all the Pennsylvania Railroad lines west of Pitts, until Jan. 1 1918.
Owns no road in fee, and tine© Jan. 1 1918 has acted solely as an Invest¬
ment company. (V. i08, p. 967).
To effect a closer unity of its system, the
Penn. BR. Co. in 1917 entered
into an agreement to take over as of Jan. 1 1918 the leases, business and
assets of the Pennsylvania Company, and assume its obligations, liabilities
and duties to the lines and properties in which it had an interest.
The
Penn. RR. owns the entire capital stock of the Pennsylvania Co. and guar¬
outstanding bonds. V. 106, p. 1031; V. 107, p. 82. Acquisition
of "Panhandle" and Grand Rapids A Indiana Ry. minority stock, see
6
7
7
8
7 y'ly
4
6
8
6
6
Dec'2Q
6
3
BONDS.—The gold bonds of 1921 are secured by leases of P. Ft. W. A
0., the Cleve. & Plttsb. and Erie A Plttsb. railroads and of bonds and
•hecks having a par value of $20,448,450, as well as real estate.
Equip,
trusts, Dec731 1920, $10,027,263.
1
Guaranteed trust certificates, "A," 44B," "0," "D" and "E" were Issued by
Girard Trust Co., Philadelphia, as trustee, under a deed of trust made by
the Penn. Co. and the Penn. RR. Co., whereby the Penn. Co. pledged
an equal ameunt at par of the 7% guar, special stock of the Plttsb. Ft. W.
k Chic. Ry. Co.
See V. 65.-p. 368, 572,1116; V. 67, p. 122; V. 7
p. 339,
490: V.79, p.2457: V.94, p.768.
The $20,000,000 gold loan 4s of 1906, guaranteed, were at Dec, 31 1918,
•ecured by deposit of $33,500,000 Pitts. Oin. Okie. A St. Louia stock, and
$1,000,000 Pitts. Youngstown A Ashtabula pref. stock; total par value of
collateral, $34,500,000.
V. 92. p, 335; V. 83, p. 1229.
The Trench franc ZH% guaranteed loan of 1000 was orlgiaally 250.000.000 francs.
Denomination 500 and 2,500 francs.
V. 82, p. 1439.
The
entire issue ($10,462,779 outstanding and $37,531,719 held by company
Dec. 31 1919) was called for redemption on June 15 1920 at par and interest.
V
110, p. 360.
•
The gold loan 4Ms of 1915 are guar., p. & i., by Penn. RR.
_
Inc. from other sees., acc'ts & funds.
All other corporate income..
Its $80,000,000
•cock is owned by the Pennsylvania Railroad.
On Deo. 31 '20 the Penn. Go.
owned sundry stocks and bonds having value, per balance sheet, $212,801,971, yielding in 1920 income of $9,806,824.
red.,
as a
notice.
Co. and are
whole only, at par and int. on and after JunelS 1918, on 60 days'
In Jan. 1921 the Penn. RR. sold $60,000,000 bonds,
$17,417,685
from
obli¬
360, 965.)
of the proceeds being used to purchase rolling stock, locomotives, Ac.,
the Penn. Co., this amount to be used toward the latter company's
gations maturing in June and July 1921. —(V. 110, p.
PENSACOLA MOBILE & NEW ORLEANS RR.
Projected from
Fla., to Mobile, Ala., 75 miles.
Owns and operates from
Pensacola,
Pensacola to Muscogee, Fla., 26 miles, and has project for
Mobile under name of Gulf Ports Terminal RR. v. 107, p.
extension to
1101. Stock
auth., $1,150,000; par $100; mtge., $350,000. V. 96, p. 1490; V. 92, p. 1566,
1701. Pres.. Elwood M. Laughlin; Sec., L. K. Blitch.—(V. 101. p. 1629.)
PEORIA A BUREAU VALLEY RR.—Peoria to Bureau Jot., Hi.. 47
Leased in 1854 to C. R. I. APac. Ry. for $125,000 yly.: div»„ usuyearly, and for some years occasionally more Feb. 1908 and Aug.
1915, 1% extra.
In 1919 and 1920 at the rate of 714%, 3H% being paid
in Feb. and 4% in Aug.; Feb. 1921 paid 3H %.—(V. 86, p. 169.)
miles.
PEORIA & EASTERN RY.—(See Map New tor* Central Unes.)Owms from Pekin, 111., to Ili.-Ind. State line: holds lease in perpetuity
IU.-lnd. State line to Indianapolis, also quit olaim deed for same effeetlvt
when mortgagee on leasehold are satisfied, 202 m.; and holds a purchase*
money lien of $5,000,000 from O. O. O. A St. Louis Ry, Co. (owner) et
Springfield Div., Indianapolis to Springfield, O,. 138 xs.: trackage Pekh
to Peoria, 9 m.; trackage, 5 miles, at Indianapolis; total oper., 210 miles
LEASE, Ao.—Formerly Ohio Indiana A Western, sold in foreclosure li
1890, reorganized per V 49, p. 616.
Leased till April 11940 to Clev. Oin
Ohio. A St. L., which guarantees Interest, but not principal, of the 1st oos
serfs and the underlying bonds, and owns $5,000,100 of the $10,000,000 stock'
par $100 See "Supp.' of Jan. 1894 as to provisions respecting any surplur
over charges.
Company owns $125,000 stock of Peo. A Pekin Union Ry.
A committee
(w. A. Carnegie Ewen, Chairman: Lerey B. DorlanC
74 Broadway, Sec.) asked deposits of income bonds with Empire Trust Co.
N. Y.; with a view to taking action, owing to the failure to pay interest or
the bonds.
In Jan. 1016 $1,094.000 of Ite eertfs. of dep. were listed.
V
102, p. 251; V. 99, p. 49.1215,1367: V. 108, p. 2529; V. 189. p. 178.
Fine*
report of committee, V. 110, p. 1742.
BONDS.—See abstracts of mtges. of 1890 in V.51, p. 246.
DIVIDEND ON INCOMES.—April 11902 to 1908. both tool., paid 4%
yearly; 1909, 0; 1910 and 1911. 4%; 1812. 0%; 1913, 4%; £914 to Apr.
1921, none.
V. 104, p. 1046.
REPORT for 1916 was in V. 104 p. 864.
Operations since Jan. 1 191*
Included in reports of Cleveland Cincinnati Chicago A St. Louis Ry.
The
covers the 201 miles owned and 9 miles operated under
following statement
trackage rights:
Cal. Year—
Gross.
Net.
Oth. Inc.
Chgs.,Ac.
Balance,
___;
*$360,9431 $244,737
$518,524 sur. $87,15fr
1918$360,943
225,376
493,323 sur.
93,90*
1917--—- ——$2,544,826
296.780
460.117
653,844 sur. 103,05$
*
Represents average net railway operating income for three year;
ended June 30 1917.—(V. 112, p. 163.)
1919
PEORIA A PEKIN UNION RY,—Owns Pekin to Peoria, on both sides
if Illinois River, and yards at and opposite Peoria.
Mileage main traoki
16.01: second main track. 9.73; total main track owned. 26.62 miles. Mile¬
age of side and yard tracks owned, 113.88.
Federal Compensation, $306,513 (contract signed).
Capital stock, $1,000,000.
Owned by Peoria A Eastern (Cleveland Cin¬
cinnati Chicago A St. Louis system), Chicago A North Western, Chleags
Peoria A St. Louis, Illinois Central system, Lake Erie A Western and
Tol. Peo. A West, companies. Extension of bonds and Govt, loan, V. 112,
563
933.
Dividends- 1891, 4%; 1895-1901, 6% per ann.; 1902, 4%;
1905, 5%: 1906-16, none; Jan. 1917, 6%; none since to April 1921. Deben¬
Cal. year 1920, gross, $1,674,010; net, def., $434,091;
other Income, $821,998: deductions, $458,570; pal., def., $70,663.
Pres.,
H. K. Pinkney; V.-P., E. N. Armstrong; Sec., R. H. Hardin; Treas., E. T.
Gibbons.—(V. 112, p. 163, 563, 933.)
p.
,
tures, V. 93, p. 1260.
PEORIA RAILWAY TERMINAL CO.—Owns terminal road between
Peoria and Pekln. HI., 8 miles, over private right-of-way, and local lines;
11.4 miles; 31.01 miles of track.
Freight business handled bv
•team.
Local passenger business In and between Peoria and Pekln by
antees its
total.
Pennsylvania RR. above.
eleotriolty.
Has union depot in Pekin.
Owns a 1,000-ft. steel drawbridge
Date
Par
Amount
Rate
When
Road
&c., see notes on page 6]
Bonds
Value
Outstanding
%
Payable
and Maturity
Q—F
May 2 1921 IX
Pere Marquette Ry
$100 $45,046,000
100
11.200,000
100
12,429,000
l.OOOAc 21,970,000
8.479.000
Common stock
Prior pre! (a A d) stock 5% cum red at par A
Pref (a & d) stk 5% cum aft Jan 1 '19 red par
dlvs..
& dlvs
1st mtge gold fSer. A 6% call at 105 & lnt_yc*Ar#
|75.000,000Ba\8er. B 4% call at 100 & lnt.y c*tcr*
Securities Left Undisturbed—
Lake Erie A Detroit Rlv Dlv coll tr M gold
Q
1910
1916
199
Collateral trust mortgage gold call par
....
Perklomen—1st M Ser 1 gold callable 105 from
Jan 1923
PeP.kv.c*
38.2
38.2
First M Ser 2 g call 105 from Jan 1923-PeP.kv.c*
Peterborough RR—Stock (rental 4%)
Plain bonds
f
_ .
Wash
$29,900,450—
] _xr
j
—
Plain bonds gold..
Plain bonds gold
....
.
—
All secured
by 1903
I
mortgage.
Lxr
J.xr
(].xo*&r*
xo*
First mortgage $20,000,000 gold...
Plain bonds gold due $500,000 yearly
229
General mortgage, Series A
Phlla 8c Bait Cent—1st M $10,000,000 g gu pAlFP.x
Columbia A Port Deposit first mortgage gold
x
Chester Creek RR 1st M $185,000
86
43
6
24
gold
Phila & Ches V—1st M pre! old 5s red '96g-PeP. kv.o*
1st mtge old 4s not pref introduced In '96j? PeP.kvo*
Philadelphia & Erie—See Pennsylvania RR
Phila & Frank—First mtge $500,000 guar.OuP. kv.c*
Phlla Germ & Norristown—Stock rental PAR Ry—
24
2.55
30
1890
1868
1888
1888
A
A
A
4
*
Q
J
4
6
8
II
4 g
.
do
do
Broad St Station, Phlla
Broad St Station, Phlla
do
do
do
do
Oct 1 1932
de
de
Nov 1 1943
da
do
Janl922 to 1924
do
do
O Apr 1 1960
do
do
Nov 1 1951
do
do
Aug 1 1940
Jan
A
M
J
A
&
1 1926
1 1933
1 1938
M
A
A
J
A
Jan
A
A
A
A
Apr
Apr
F
text
do
Nashua. New Hampsh fir*
Apr 1921 2%
F
4g
do
Dec 31 '20, 3%
Nov 1 1922
J
i'
N Y
Reading Terminal. Phlla
1 1938
1 1938
Jan
O
A
M
t*
i*
ig
do
do
Aug 1 1932
11923
Jan
Q=J
A
Office of company,
do
do
J Jan
J
0
„
50
Ac
s*
500,000
2.246.900 See
1892
J
J July 1 1956
J July 1 1950
ft
4 g
50 29,836,950
1,000,000
1,000
927,000
1,000
1.000,000
1,000
1.000 Ao 16.070.000
1,500.000
1,000
15,000,000
1,000
1.606
2.200,000
1,447,000
1,000
1,000 In treasury
500
280,510
500
100.000
1887
1891
1892
1904
1909
1920
1911
J
4Hg
799,600
1.125,000
385.000
100 Ac
1,000
100
1888
1888
}g
4 g
3,000,000
2,870.000
1.000
1903
1903
Ktersburg RR—SeeCentral—See Phlla Bait A
Atlantic Coast Line RR.
ilia & Baltimore
Phila Baltimore & Wash—Stock auth
Where Interest aesd
Dividends are Payable
Places
Dividend
Last
Miles
COMPANIES
RAILROAD
[For abbreviations,
[Vol. 112.
BONDS
RAILWAY STOCKS AND
108
June4 1921
de
do
Reading Terminal, Phlla
A Mer Bldg, Phlla
A Aug 1 1922
A
Q—M
do
do
Reading Terminal. Phlla
1 1938
3% Mar
■!
over
I.
R.
the Illinois River.
Capital stock, $1,000,000, all owned by Chlcagi
A Pao. and Chicago A Alton, which guaranteed the 1st M. bends
The former owns the $1,500,000 First & Rer. M. 43^s).
For year endinf
Dec. 31 1920, gross, $292,125; net, def., $78,372; Govt, corapensatior
-
$103,072[_other Income, $73,837; deductions, $342,000; bal., def., $243,462.
Pres., W. G. Bierd; V.-P., J. E. Gorman; Sec. & Treas., Carl Nyqulst.
Compt., E. S. Benson; Manager, H. I. Battles.—(V. 107, p. 1004.)
miles,
PERE MARQUETTE RY.—Total system Dec. 31 1920 2,272
less 34 miles leased to others; total operated, 2,238 miles, -via.:
The company's
the
lines gridiron
Other lines
,
Ludlngton
Operates car terries
23
Milwaukee
to
The
Manitowoc.
and
?4 mile3 leased to other companies, Lawton, Mich., to South Haven, is
April 15 1W7.
ORGANIZATION.—Incorp. In Michigan March 12 1917 and took pos¬
session of property as of April 1 1917.
A reorganisation, per plan In V.103
p, 1692, 2342. of Pere Marquette Railroad Oo. after foreclosure sale, undei
Oonsol. M. of 1901, Ref. 4% M. and Impt. A Ref. Gen. M.; Flint A Pert
Marquette Oonsol. M. and 1st M.; Port Huron 1st M. 5s; Grand Rapldi
Beldfng A Saginaw 1st M. 5s, and Chicago A West Michigan 1st M. 5s
Chicago A North Mich. 1st M. 5s; Pere Marquette of Ind. 1st M. 4s. anc
Detroit Grand Rapids & Western 1st Oonsol. 4s.
Sale of stock interest of
eased to Hal. Lake Shore A Chicago Ry.for 25 years from
J. P. Morgan & Co.. see V. 109, p. 173, 73.
Federal Contract, signed in Feb. 1920 and
subsequently corrected, fixed
annual compensation at $3,725,718.
The company refused the six months
extension or the Government guaranty.
Claim for $16,739,154 filed with
Railroad Administration, V. Ill, p. 1472.
CAPITAL STOCK.—The new stock (V. 103, p.
Common stock
...
_
Prior pref. stock 6% cumulative, 1st pref. as to prln.
Redeemable at par and dividends
1692) include;^
—$45,046,000
and dlvs.
11,200,000
Pref. stock 5% cum. after Jan. 1 1919, 2d pref. as to prln.
dlvs.
Redeemable at par and dlvs
and
12,429,000
Voting Trust.—All three classes of stock are held by James S. Alexander,
Henry R. Hoyt, Francis R. Hart, Frederick Strauss, Eugene V. R. Thayer.
Robert Windsor and Beekman Winthrop, and, if so determined, an ad¬
ditional person, as voting trustees for not exceeding five years.
DIVIDENDS.—No. 1, of 1 2-3%, was paid Aug. 1 1917 on the Prior
Lien Pref. stock for the 4
mos. ended July 31i (V. 105. p. 73); Nov. 1 1917,
May 2 1921 134% quar. V. 109, p. 1367, 1793.
first mtge of 1916 is a direct first lien on all the railroad
property, equipment, Ac., owned by the company in the U. 8. and also
to
BONDS.—The
securities
oovers
owned
In
several
The
subsidiaries.
mortgage
Is
for
$75,000,000 (see V. 103. p. 1692. and offering in V. 104, p. 1265, 1388),
Issuable in series, with, if desired, different maturities and call features, the
Interest rates to be fixed at not over 6% p. a. for the following purposes:
Now Issued all
equally secured, covering as a direct first lien
about 1.856 miles of main line and branches and as a sec¬
ond collateral lien 199 miles; total, about 2,055 miles ($6,-
000,000 Series A for sale to syndicate; rem. for exchange)—
Series A 5%, due July 1 1956, redeemable at 105 A int..
Series B 4%, due July 1 1956, redeemable at par Aint—
21,976,000
8,479,000
Reserved to retire undisturbed bonds, viz.:
$3,000,000 P. M.
(Lake Erie A Detroit River Ry. div.) Oollateral Trust 4Xa
and $2,870,000 P. M. Oollateral Trust 4s
Reserved for Issue after July 1 1918 for acquisitions, additions,
betterments and improvements, under restrictions
gross
1921.
Jan. 1—Dec. 31
,
.
$7,626,420
1919.
1920.
1920.
$8,870,702 $40,722,368 $35,443,136
271.922
171.539
4.010.563
8,046.078
REPORT.—For cal. year 1920. in V. 112, p. 1969, 2077, showed;
...
Earnings
Based
on
Tentative
Government
Compensation.
1919
Tentative Government rental
Expenses
Other
121 479
Tax, rents, miscellaneous interest, Ac
Bond
$3,748,196
124,903
.
income
interest
"""III
160!082
1.726 547
...
Surplus
1.896.931
Passenger
Mail
1918.
$3,748,196
72,324
103,866
197,853
1,687,766
1,894,125
-Years ended Dec. 31—
.
Operating Revenue—
Freight
express,
Ac
Incidental, Ac
1920.
1919.
1918.
$29,754,566 $26,504,204 $22,200,348
6,938,505
6,127,461
4,233,797
3,004.844
2,106,973
1,903,918
674,899
704,969
616,948
,
$5,567,136
Uncollectibles A miscell.
1,073,822
3,787
670,865
2,368
864,731
4,785
$6,126,410
640,479
7,403
$2,563,250
$8,046,078
$4,698,720
$5,598,490
708,302
37,797
$3,271,552
$8,083,875
656,950
709,045
$4,698,720
631,743
495,628
$4,598,490
638,096
1,692,869
$746,978
$6,717,880
$3,689,875
$3,661,473
Taxes
Interest, Ac., received.
_
Rentals,
Hire of
831,705
Ac
equipment
Bal. for int. charges.
12
1920.
560,000
$1,689,751
1,687,860
1,991
326,667
$4,306,615
$1,997,413
$1,645,055
Balance, surplus...def.Sl,492,511
on
Divs.
bills payable, Ac.
on
1917.
$16,850i266
4,213,804
1,825,830
617,955
prior pref. stock
OFFICERS.—E. N. Brown, Chairman; F. H. Alfred,
V.-Pres.: Clarence S. Sikes, V.-Pres. A Gen. Aud.; J.
and Treas.; E. M. Heberd, Sec.
son.
Directors.—S. T. Crapo, F. H. Alfred, Detroit; F. W.
Mich.; Francis R. Hart, Robert Winsor, Boston; John
expenses._$36,731,955IS26,723,825 $23,387,876 $17,381,446
Pres.; R. B. Wil¬
L. Oramd:, V.P.
Stevens, Ann Arbor,
W. Stedman, New¬
ark, N. J.; Frederick Strauss, Beekman Winthrop, E. N. Brown,
Q. Brown, Wm. P. Philips, Chas. Hayden, E. V. R. Thayer, L.
and Wm. H. Porter, N. Y.—(V. 112, p. 63, 470, 1969, 2077.)
Franklin
F. Loree
PERKIOMEN RR.—Owns from Perklomen Jet., Pa., to Emaus Jet,,
Pa., 38.23 m.; rackage on P. A R. Ry.. Emaus Jet. to East Pean Jet.,
3.0 m. Stock ($1,500,000, par value of shares $50) owned by the Beading
Oo. and mostly deposited under Its Jersey Central collat. 4% mtge. ©f 1901.
V. 72, p. 283.
The bonds, extended till Jan. 1 1938. are subject to call on
or after Jan. 1 1923 at 105 and Int.
V. 105, p. 1802.
Year 1920, gross,
$1,269,616; net after taxes, $557,891.
Year 1919, gross, $1,121,837; net
after taxes, $538,945.
The company refused the six months extension of
the Govt, guaranty.—(V. 105, p. 1802.)
PETERBOROUGH RR.—Wilton to Greenfield, N. H„ 10.04 miles.
1893 to Boston A Maine for 93 years at 4 % on stock and ex¬
Capital stock, $385,000; par, $100; div. A. A O.
Leased April 1
penses.
PHILADELPHIA BALT. & WASHINGTON RR.—(See Map Penn.RB.)
Lines controlled, Leased, &c.-~
Miles.
Delaware RR
....245
Phlla. to Washington, D. O., via
Bait., all double track
131 Delaware, Maryland A Virginia 98
5
Phila. to Octorara. Md., A brs__ 93 Other lines (5), trackage, Ac.....
Lines owned—
Perryville.
Md., to
Columbia,
Pa., Ac
Bowie to Pope's
.....
Creek, Md
Sundry branches, Ac..
43
49
98
Total operated Dec. 31 1919
702
ORGANIZATION.—A consolidation 1910-17.
V. 104. p; 1580; V.
103. p. 1033; V. 102, p. 1897; V. 107, p. 2009, 2188.
Property leased to Penn. RR. Oo. (V. 106. p. 1031) for 999 years from
Jan. 1 1918 at a fixed rental providing for dividends on stock at rate of
6% P« annum.
V. 105, p. 1709, 1898, 2543.
STOCK.—Stock authorized,
$29,836,950.
outstanding Dec.
$29,900,450;
The Pennsylvania RR. on Dec. 31 1920
31
1920,
owned $29,836,944
June 1916, 2% semi-ann.;
4% p. a.; Dec. 1916 paid 4%; June 1917 to June
p. a. Under lease, 6% p. a.
V. 105, p. 1709.
1920. 3% semi-ann.; 0%
BONDS.—The first mortgage of 1904, ($20,000,000 authorized) is a first
tlen on the Philadelphia-Baltimore division, 117 miles, all dauhle^raoked,
pari-passu the $2,930,000 debentures of the former P. W. A
Baltimore to Washington. V. 78 ,p. 49; V. 92,
795; V. 97, p. 1427, 1734; V. 98, p. 237. 1000.
The 4s of 1909 are to be secured by a new mortgage.
V. 84, p. 1368;
V. 85. p. 284; V. 87, p. 1605.
During 1918, for the purpose of liquidating debt on account of capital
expenditures, Ac., the stockholders authorized (1) the Issuance of $3,400,000
additional capital stock at par; (2) an increase in the funded debt by $33,115,000 over the amount heretofore authorized, such increase at the dis¬
cretion of the directors; (3) the execution of a mortgage to secure the out¬
standing 4% serial gold loan, $3,000,000; (4) an issue o iksnds not exceed¬
ing $60,000,000 (of which $26,885,000 shall be reserved to retire bonds now
outstanding or authorized and the serial gold loan), and the issue frem time
to time of such bonds for any purpose authorized by the mortgage.
It is proposed to issue $15,000,000 Ten-Year 6% Debenture Gold Bonds, due
Aug. 1 1928, secured by an agreement with the Commercial Trust Co.,
trustee, auth. a total issue of $33,000,000 of such bonds.—V. 109, p. 1074.
The $15,000,000 gen. mtge. Ser. A 6% bonds were issued to the Pennsyl¬
vania RR. in part payment for advances.
V. Ill, p. 2424.
and also secures
B., and also on the line from
p.
...
_
REPORT.—Report for 1919 shows: Income
Totaloper.revenues__$40,372,814 $35,443,136 $28,955,011 $23,507,855
of way A struct's $5,309,721
$3,495,488
$3,790,387
$2,425,689
Maint. of equipment...
8,618,193
6,468,044
5,607,546
3,420,626
do
depreciation.
1,158,032
664,454
536,348
474,064
Traffic expenses
561,127
337,974
344,773
442,858
9,925,781
Transportation expenses 19,667,511
14,764,362
12,233,619
644,976
Generai;expenses
1,378,716
877,318
825,442
Miscellaneous operations.
57,136
151,396
124,777
61,442
Cr .9,685
Transportation for inven Cr. 112,741
Cr.8,593
Cr. 11,681
Maint.
Total oper.
1917.
$3,689,875
1,687,760
4,702
560,000
$6,593,437
1,687,760
39,062
Int.
1,282,832
31
Months to December
1919.
1918.
$746,978
1,687,760
551,729
Balance brought forward
Interest on bonds
Dividends since consolidation Dec. 31 1902 to
5,870,000
.
Jan-1—Mar- 31
n
EARNINGS.—
$8,719,311
of the stock.
38,675,000
Equipment trusts Issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
™
1917.
$3,640,859
operating
Total income
Detroit
State of Michigan, serving
Huron, Bay City, Lansing, Grand Rapids, Muskegon, Manistee
Traverse City, Ac., Ac.
By means of extensions of its own lines and track
age over other systems the company Is able to reach Chicago (entering ove
B. A O.), the Suspension Bridge at Niagara Falls, using the Michigan Cent
RR. from St. Thomas, Ont., east., Toledo, Ac.
Lines Owned—
Miles.
Trackage—
Main lines and branches
1,802 St. Thomas, Ont., to Interna**!
Business producing branches
Bridge and Niagara, N. Y
132
21
80
Controlled—
Miles. Other trackage
Lake Erie A Detroit River
199 Less owned not operating.—.— 34
Port
-Years ended Dec. 311919.
1918.
1920.
revenue..
Net
470; other income, $1,385; int., Ac.,
Year end. Dec. 31—
Gross
earnings.
Net
1917.
.$33,212,404
$8,024,157
.
from lease of road. $2,625,-
charges, $1,039,251;
$1,586,220; bal., sur., $1,385; p. A 1. surplus
dividends (6%),
Dec. 31 1919, $13,802,017.
1915.
1916.
$25:540.425 $21.311037
$4,804,915
$6,880,141
$2o!Ii^62
$3,759,527
1917.
Net income, after taxes,
Dividends received
Joint facilities rents, Ac
Gross
income
Ac
-
$7,409,653
$956,510
389,135
$8,755,297
$$,12&,228
$1,113,007
384,550
$7^22:r&5
Miles
abbreviajtwris, &c., see notes on page 6]
Date
Par
Amount
Rate
When
Road
RAILROAD COMPANIES
[For
109
RAILWAY STOCKS AND BONDS
MAY, 1921.]
Bonds
Value
Outstanding
%
Payable
46
Philadelphia & Reading Ry—See Reading Company
Philadelphia & Trenton—Stock 10% rental Penn RR
Philippine Ry—Stock J5.000.000 authorized
1st M J15.000.000 e lnt guar 8 f red 110_.Ba.xo*&r*
Piedmont & Cumberland—See Western Maryland
1890
$1,000
22.22
Phila Harris burr & Pittsburgh—1st M g
kv.o*Ar
Phila Newtown AN Y—IstM (3a first charge) _kv.c«
1892
1.000
26.61
$2,000,000
1,599,000
100
100
5.000.000
8,549.000
1.000
1890
1.000
1,000
.1.000
1,000
and
A A015 Oot
A?
A
10
See text
1907
*
3
Last Dividend
Dividends are Payable
15 1925
1 1942
O Oct
A
Where Interest ant
Places
Maturity
Reading Term a*', Phil*
do
do
Apr 12 '21234% Treas Penn RR Co. Phlla
Q—J
"
4g"
J July
A
"f 1937
Trust Co. N Y
Bankers
Pino Creek—See New York Central
50
Pittsburgh Bessemer & Lake Erie—Common 3% rent
Preferred stock 6% cumulative guaranteed by rental
Pittsburg Shenango A Lake Erie IstM g _Ce.xxo*
Consolidated first mtge for $4,800,000 g „Ce.xxo*
Pitts Besg A LB oons mtge $10,000,000 g .Us.xxo*
Plttsb Chart A Yough—Gen M $1,000,000 g gu.FPlk
Plttsb Cincinnati Chic & St L RR (new)—Stock—
Ohio St L & Pitts oons M (J22.000.000) g—Un.xoAr
•A" gold.xo'
B*
Plttsb Oln Chic & St Louis Ry—
4,T>" gold-xc*
^
Consolidated mortgage J75.000.000 "O" gold.xo*
"D" gold-xo*
gold guaranteed prln A lnt (end) by
Pennsylvania Company unoondl- "E" gold.xo*
"Y" gold.xo*
tlonally, all equally secured
178
20
1.854
581
1.144
A
June 1 1921
Oot 1 1940
A
July 1 1943
5 g
A
6.443.000
154.000
84.860,111
1.463.000
9,733.000
100
1883
1890
1892
1892
1895
1899
1903
1907
Apr 1
A
5 g
5 g
1.000
1.000
1.000
1,000
1921
Cheok
from
Co's
Office
do
do
Jan
1 1947
United States Tr Co, N Y
4*
Apr
1 1932
Offloe,
&
5 g
A
A
Jan 251921 2% Treas office. Plttsb, Pa
Oot 1 1932
Reg Penn RR, N Y coup
Oot 1 1940
Penn RR Co., N Y
4Hg
Pittsburgh.
A
Apr
1 1942
do
M
A
Nov 1 1942
do
do
4 g
M
A
Nov 1 1945
do
do
33*
F
A
do
J
A
Aug 1 1949
Deo 1 1953
do
4 g
do
do
4 K
4 g
M
A
do
F
A
Nov 1 1957
Feb 1 1960
do
2,373.000
1.000
do
F
&
do
do
do
M
&
Aug 1 1963
May 1 1964
do
Pa
do
4H
do
8.528,000
1,376,000
4.008.000
1,757,000
9.518,000
7.945.000
4H g
1,000
1.000
1.000
1,000
1.000
1914
gold_xs*
gold.xo*
,
Central Union Trust N Y
do
do
A
1913
"G" gold.xo*
"H" gold_xo*
stjtt
1893
1897
1892
&
6
3
1910
•
ssj»»
10.000.000
2,000,000
2.983.000
574.000
50
119
136
1.000
6,791,000
3.490.000
4*4
434
1901
1885
1905
1907
1.000
1,000
1.000
1,000
625.000
1,899.000
9,705.000
6,362.000
334
A
A
Oot
5 g
J
A
July 1 1925
5 g
4 g
F
A
Feb
M
A
Nov 1 1957
General mortgage 5s (see text)
23
assumed
xo*
Terre H A Ind cons M (now first) gold assumed.Fs
Yandalla
RR lOons MSer A if assmd_F.xc*r&r»
99
651
J25.000,000 j Series B assumed
x
Pittsburgh Cleveland & Toledo—See Baltimore & Ob to
651
RR
Chartiers first mortgage
1917.
Lease of other roads
—
$632^333
690,404
77fwS93
1.070,863
484.899
1,91lCL21
1,586,226
212,256
1,5002238
$3,192,542
p. 578, 1074; V. Ill, p. 2424.
$478,506
Bond Interest
Other Interest and miscellaneous-..
—-
Dividends (6%)
Additions, Ac
1916.
$372,772
994,686
851,059
Hire of equipment, balance
Joint facilities, rents
.
Balance, surplus
V. 108, p. 1823, 2123; V.
10<F,
383,497
1,964,492
PHILADELPHIA & CHESTER VALLEY RR.—Road from Brfdgepsrt
Pa.. 24.07 miles. Chartered In 1888. Capital steok (par $50
In common, $550,000; preferred, $205,100; total, $755,100. of which Read
Ing Company owns $489,300 common and $205,100 pref., $450,000 oanuuen
and $205,100 pref. being deposited under Its gen. mtge. of 1897.
Reading
Co. guarantees bonds, with int. reduced.
See V. 63, p. .1064.
to Downlngton,
Pa.,
PHILADELPHIA OERMANTOWN & NORRISTOWN RR.—Phlla., Pa.,
to Norrlstown and Germantown, Pa., 21.52 miles; second traok, 20.43 miles
third track, 3.81 miles; totaltrack, 86.5 miles; leases Plymouth RR., 8.93
miles.
Leased on Nov. 101870 to Phlla. A Reading for 999 veart; rents 1.
$277,623, incl. $8,000 yearly for organization expenses.
The quarterly
paid Sept. 4 1918 was only $1 25 per share (23$%) and that paid
$1.50 (3%) as ©revkmely
owing to pending litigation with lessee as to which company should pay
the excess profits# In Mar. 1919 Judge Audenreid at Phila. decided that the
lessee was liable for this tax and gave judgment for about $12,000 against
the P. & R. In Dec. 1919 paid $1.50 (3%) and an extra of 85 cents being
the amount deducted from former dividends; Mar. 1920 to June 1921 paid
$1.50 (3%) quar.—(V. 108, p. 974, 1987.)
PHILADELPHIA
HARR1SBURG A
PITTSBURGH
RR.—Harrlsburg
Pa., to Shlppensburg. on the Western Maryland RR., 45.83 m.; 2d track
41 m.; sidings and laterals. 14.69 m.
Leased Oct. 15 1890 for 999 yean
at f % on stock, int. on bonds, taxes to Phila. A Reading RR.
which by en
dorssment on each guar, the bonds, prln. A int.
Lease assumed In 1896
by Phlla. A Reading Ry.
Stock, $2,000,000, all owned by Reading Co.
PHILADELPHIA NEWTOWN & NEW YORK RR.—Philadelphia to
Newtown, Pa., 22.22 miles; 2d track, 3.50 m.; 3d track, 2.16m.; sldlnrsand
laterals, 4.88 miles.
Stock—common, $1,225,000; preferred, $400,000;
Dec. 1920 Reading owned preferred, $382,450; common, $638,100; par, $50.
Of the bonds, $849,100 (with coupons only partly paid—see V. 64, p. 331)
are owned by the Reading Co. and deposited under Its gea. mtge. of 1897.
$271,100 additional being owned but not pledged.
In Oct. 1898 Int. on
$507,000 bonds was reduced to 3% from April 1 1897 and made a first
charge; remainder 5%, subject to said agreement.
V. 68, p. 773.
DIVIDENDS.—In 1895, 4%; 1896, 11%; 1897, none; 1898, 7%; 1899,
1%; 1900, 4%; 1906, 6%; 1907,10%; 1908,4%; 1909, 8%; 1910, 4%; 1911,
1912, 6%; 1913. 1914 and 1915, none; 1916, June 1, 5%; 1917, 12%;
1918, Feb., 5%.
Of the 4s, half are guaranteed (endorsed) by Pitts. ClnChic. A St. Louis, the other half by Pitts. A Lake Erie.
See guaranty,
V. 56, p. 650.
In 1918, accrued Federal compensation, $184,G08;other
income, $6,380; taxes, $8,000; int. rents, Ac., $8,341; bal., sur., $174,047.
In 1917, gross, $632,878; net, $318,520; other Income, $10,142; charges,
$66,380; div. (12%), $166,800; surplus, $139,210.
Pres., Henry O. Nutt.—■
(V. 112, p. 1742.)
none;
PITTS. CINCIN. CHIC. & ST. LOUIS RR. (Consolidated Company).'
Miles.
Lines leased (*See these cos.)—
145
504 Terre Haute A Peoria
Lines owned—
Pittsburgh, Pa., to Chicago, 111.
Rendcomb Jet. to Anoka Jet..
Bradford Jet. to Indianapolis..
Indianapolis to Jefforsonville..
PHILADELPHIA & READING
RY.—See "Reading Company."
PHILIPPINE RY,—Under a concession granted July 13 1900 by the
Philippine Gov't, In aooordanoe with aa Aot of Congress of the United States
In 1905, and with the approval of the Secretary of War. this oompany has
contracted to build lines of railroad In the Philippine Islands as follows: Isl¬
and of Panay, 100 miles; Negros, 100 m.. and Cebu, 95 m.
ORGANIZATION.—Incorp. Feb. 5 1906 in Connecticut with an auth*
capital of $5,000,000.
V. 80. p. 2622; V. 82. p. 219.752: V. 83, p. 493, 970.
1412; V. 85, p. 794; V. 87, p. 1358.
Under the terms of the concession the
Philippine Govt, guarantees interest on an Issue of 1st M. 30-year sinking
gold bonds, which may be Issued to extent of 95% of cost of
fund 4%
Any interest payments by the Government become a cumu¬
subject to the lien of the 1st M. bonds.
REPORT.—Earnings for calendar year, 1920, gross, $750,297; net after
taxes, $213,423; other income, $3,801; interest, rentals, Ac., $345,087;
additions and betterments, $43,224; bal., def., $i71,086.
construction.
lative lien on the property,
DIRECTORS.—H. T. S. Green, J. H. Pardee, C. Lewis, Jacques Wein¬
berger, Major-Gen. Frank Mclntyre, Wm.
Alonzo Potter, Charles M. Swift, Cornelius
Barclay Parsons, J. G. White,
Vanderbilt, Col. Chas. C. Wal-
Chairman, J. G. White; Pres., Charles M. Swift; V.-Pres., O.
Lewis and J. H. Pardee; Y.-P. A Gen. Mgr., R. R. Hancock; Sec. A Treas.,
T. W. Moffatt.
Office, 43 Exchange Place, N. Y. City.—(V. 98, p. 690;
cutt
V.
Jr.
104, p. 2553; V. 108. p. 2630; V. 110, p. 2488.)
PITTSBURGH BESSEMER & LAKE ERIE RR.—Bessemer.
Pa., to
Oanncant Harbor. O., 152 mi 1m; leased to othtr roads; other mileage owned.
80 m.: branches and spurs, 36 a.; leased Meadvllls Oeameaut Lake A Linesvilie RR. and Llnesvlile to Meadrlilt, 22 m.; trackage te Cascade, near
Brio. Ac.. 13 m.; total, 253 milee (142 mllso double-tracked).
ORGANIZATION, AO.—A consolidation Jan. 14 1897.
Beat llnee to
Canada, see V. 77, p. 1228: V. 76. p. 1358, 922; V. 61. p. 241. 795.
Of the stock, $5,500,500 common and $761,000 preferred are owned by
the U. S. Steel Corp.
Leased for 999 years bom April 1 1901 te the Besse¬
mer A Lake Erie RR., a subsidiary organization of the U. S. Steel Corp.,
for 6% on pref. and 3% on com. stock. Interest on bonds and ergantsatloB
expenses, Ac., lease guaranteed by the Carnegie Steel Co., subsidiary of
U. S. Steel Corp.
V. 72. p. 137.
BONDS.—The mtge. of 1897 is for $10,000,000: $3,568,000 reserved to
retire Pittsburgh Shenango A Lake Erie bonds.—(V. 112, p. 1399.)
...
166
104
108
238
119
40
Indianap.,Ind.,toE St.L..111.
Indianapolis to Ylncennes, Ind.
Frankfort to Ben Davis
South Bead to Rockvtlle, Ind..
Logansport, Ind., to Butler...
160
93
Branches
Chicago A Eastern Illinois....
♦Little Miami
--
16
195
-
-
Ohio Connecting Ry
Other lines
9
4
...........
Trackage
Operated under their own org.
Pitts. Char. A Yough
Waynesburg A Was* RR....
118
20
28
363
Total
........
owned..
1,896
...
Total of all Dec. 31 1919....2.431
ORGANIZATION.—This railroad company completed its organization
on Jan. 1 1917 with $100,000,000 of auth. capita i stock, per plan in V. 103,
666. 844, 2429, aa a consolidation of the rollo wing cos belonging to ths
Pennsylvania RR. system: Pitts. Cine. Chic. A St. L. Ry., Vandalla RR.,
Pitts
Wheel. A Ky.. Anderson Belt Ry. and Chic. Ind. A East. Ry.
In Feb. 1919 voted to purchase the new line built in the company's interest
at cost of $6,000,000 between Ben Davis (near Indianapolis) and Frankford,
Ind., 42 miles, replacing 54 miles trackage over Lake A WesternRR. —V.
107, p. 2377.
The stockholders on Dec. 29 1920 approved the lease of the road and
property to the Pennsylvania RR. for 999 years upon the general basis of
paving a rental sufficient to cover the fixed charges and a dividend at the
rate of 4% per annum upon the stock for five years and thereafter at the
rate of 5%.
V. Ill, p. 1950; V. 112, p. 63.
A
p.
Federal Contract,
$11,334,093.
signed
in
Feb.
fixes
1920,
annual
compensation at
-
STOOK.—Total stock outstanding Dec. 31 1919,
$84,860jlll (of which
Pennsylvania Company owned $65,124,535 and Penn. RR. $450,000),
including $292,653 ror conversion of outstand. securities of constituent cos.
In March 1920 the Pennsylvania RR. and Pennsylvania Co. offered to
acquire the minority holdings.
See under "Bonds" below.
\
I '02-'05. *00. '07-'09. '10. 'll-'IS. '14. *15. '16.1917
(%)
4 yrly. 43* 5 yrly. 6H 5 Yrly. 2% 23*
6
3(%) ._(—3 yrly.— 4 yrly. 634 5 yrly. 2
2
In Aug. 1917 and again on Jan. 25 1918 paid 2H% on the new (con¬
solidated) stock, but from July 1918 to Jan. 1921 paid 2% seml-ann: the
reduction being made to meet the wishes of the U. S. RR. Administration.
V. 107, p. 292, 402; V. 105, p. 2543.
DIVIDENDS.—
Old
Preferred
Old
PHILADELPHIA & TRENTON RR.—Phlla. (Kensington). Pa., to
Morrisvllle, Pa., 26.61 m., mostly four-traoked.
On June 30 1871 leased for
999 yean to Pennsylvania RR. at 10% on $494,100 stock, the balance,
$765,000, being owned by United New Jersey RR. A Canal Co.
Treasurer, Pittsburgh
Pa RR Co, N Y
PITTSBURGH CHARTIERS & YOUGHIOGHENY RY.—Owns from
Beechmont,20 miles; traokage (Chartlers Ry.. 1.40 m.; 22 m. in
STOCK outstanding, $1,390,000, owned jointly by guarantors men¬
tioned below.
Auth. stock, $1,500,000. V. 82, p. 1269.
Federal Compensation.—$180,614 yearly during Federal control (contract
executed).
dividend
Dec. 4 19l8*and again Mar. 1919, $1.35. instead of
,
1 1955
Ohartiers to
& FRANKFORD RR.—Owns from Creeoentvflle to
2.55 miles; total tracks, 4.26 miles.
The $500,000
$498,950 Is deposited under
guaranteed by ReadlngCo.
Leased to Philadelphia A Reading Ry. for 999 yean from July 1 1907 for
interest on $500,000 first mortgage bonds and $111,466 outstanding obliga¬
tions.—^. 67, p. 1358, 1357.)
Co1•s office, Pittsburgh ,P*
Pa RR Co, N Y
all.
PHILADELPHIA
Frankford,
stock Is owned by Reading Company, of which
Its mortgage of 1897; principal and 4% Int. Is
1 1931
Common
—
BONDS.—The Consolidated Mortgaae for $75,000,000, made in
1890 by
bonds for
time they
additions,
Ac.
They are guar, unconditionally as to prln. A int. by the Penn. Co.
The ten series are all equally secured.
See adv. In "Chronicle" May 21
1892 and guaranty on bonds.
V. 90, p. 488; V. 97, p. 365, 596; V. 90, p.
803,1555; V. 91, p. 337; V. 92. p. 1243;W. 98. p. 140i; V. 99. p. 1&9< V. 100,
p. 475; V. 103, p. 2342.
Equipment trusts Dec. 31 1920, $10,894,512.
To retire the $1399.000 old bonds of Terre Haute A ind. (old Vandalla
RR.) an equal amount of consols of 1905 was reserved. See V. 80, p. 1243*
1236; V. 82. o. 162. 630; V. 86, p. 1531; V. 90, p. 850, 915, 1426.
The stockholders on May 27 1920 authorized an issue of Gen. Mtge.
bonds, $20,000,000 of which were Issued to reimburse the Pennsylvania Co.
for advances made to cover the lmpt. & exten. of the "Panhandle" property.
The $20,000,000 of "Panhandle" bonds so turned over to the Pennsyl¬
vania Co. will be used in the acquisition of the minority stock of the "Pan¬
handle" company under the terms of offer made to the minority stockholders
on March 15 by the Pennsylvania Co., which provided for an exchange of
stock for bonds, par for par (see Pennsylvania RR. above).
The bonds will
be secured by a new general mortgage on the "Panhandle" property, which
constitutes that portion of the Pennsylvania system extending with its main
line and branches between Pittsburgh and St. Louis.
The general mortgage
will also provide for the refunding of the existing loans on this property as
they mature. See Y. 110, p. 1188, 1089; V. Ill, p. 1950.
-Jan. 1 -Mar. 31
Jan. 1 -Dec. 31
the Pitts. Cln. Chic. A St, Louis
Railway Co. reserves sufficient
the purpose of retiring all sectional bonds at maturity, at which
must be paid off.
The remainder are issuable for improvements,
EARNINGS.—
Gross
REPORT.—For
1920.
1921.
calendar
year
1920;
1919.
.
1920
*$11,2451938
Federal
compensation
Other corporate income
Gross income
Total deductions
Net income...
1,318,333
Dividends (4%)
surplus...
1919.
1918.
$11,334,094 $11,334,094
666,200
224,203
....$12,564,270 $12,000,300 $11,588,297
8,380,643
7,656,892
6.828.318
4,183,627
4.343.408
4,729.979
To sinking and other reserve funds
Balance,
1920.
$25317.673 $27,003,123$111,502.186 $93,606,303
def718,338
def246.075def7,930,760defl.l77.888
Net after taxes...
1,232,523
3,382,008
1.202,758
3,380,646
def$469,240 def$271,123
$146,575
1,267,379
3,385,488
RAILWAY STOCKS AND
110
[VOL. 112.
BONDS
Last
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rate
When
[For abbreviations, Ac., see notes on page 0]
Hood
Bonds
Value
Outstanding
%
Payable
7
Q—J
470
Pitt* Ft Wayne & C—Pref stock (orig'l guar stock)
Original guaranteed stock unexchanged to Dec3120
Common stock (guar spec stock) 7% gu S80.285.700
Guaranteed special stock unexchanged to Dec 31'20
470
PlttsDurgti Junction—bee Baltimore a Ohio KB..
Pittsburgh & Lake Erie—Stock auth $50,000,000First mortgage gold
—zc
Second mortgage gold Series A and B
N.so
$100 $16,094,700
100
3,619,585
IOO
24.072.300
100
41,144,600
....
::::
75
76
1878
1889
1913
G—J
7
1,000
2,000,000
2,123,729
2,400,000
3.959,650
2,250,000
1,000,000
1.000
Apr
Apr
Apr
Apr
Q—J
Q—J
35,985,000 10 In '20
2,000,000
50
75
7
7
Jan
Jan
A
4 H
Jan
A
O Oct
1928
do
do
Office.
5% Go's
Pittsburgh
do
do
1 1928
1 1928
1
Where Interest ant
Dividends are Payable
\H
1H
IH
Feb 1 1921
(
&
&
Places
1H Wlnslow, Lanler&Co.NY
5 1921
5 1921
1 1921
11921
i
A
t g
g
5
Dividend
and Maturity
New York Trust Co. N ")
Guaranty Trust Co. N Y
'35 Guaranty Tr Co, N Y
N *'■
3% Central (Jn Tr Co.
Equipment Trust Certificates Dec. 31 1919...c^&r
1920
do
do
due $160,000 yearly
G.c*_
1882
Pittsburgh McKees & Yough—Stock guar (see text)
57
1882
First mortgage guar by P & L B and LS4M S_xc
57 1884
Id-M guar p A 1 (end) byP&LEandLSAM S.xc
RR
Pittsburgh Painesville & Falrport—See Baltimore & Ohio
Pittsburgh St Shawmut RR—Stock
1909
First mortgage gold red 105
CE.xc*Ar*
1917
First Lien Trust 10-year notes $8,700,000 g
1920
Collateral trust notes $1,500,000 auth (ext. 1 yr.)„
1.000 Ac
1912
1914
1,000
1,000
1,000
1916
1,000
1917
1.000
1917
1.000
84,000
1,700,000
1910
1917
1892
1.000
875.000
1,000
1,000
1,000
1,000
15,000
733,000
6
J
5
J
A
J Jan
1 1943
In default
164.000
5f
4 g
F
A
A Feb
11949
Feb
F
A
A Feb
1 1952
Equipment trusts due $10,000 semi-annually y Colx
do
do
123,000 semi-annually
...Colx
do
do
$30,000 semi-annually
Colx
do
do
$13,000 semi-annually
Colx
6o
do
$7,000 semi-annually
Colx
Pitts Shaw & No—Receivers' certs A A B.call at par
Receiver's certificates V. 102, p. 977
do
do
CentralNY4 Western RR 1st M—...
♦
Includes Federal compensation (2
under
6
mos.'
guaranty,
$6,764,393.
.
1913
x
1899
1902
Eq.xo*
First mortgage gold 112,000,000
Refunding mortgage gold $15,000.000
500 Ac
50
1,000
1,000
1,000
1,000
mos.), $1,957,698; income accrued
Net railway operating income (4
mos.), $2,523,847.
Pres., Samuel Rea, Phlia,: Sec., S. H.
Knight, Pittsburgh.—(V. 112. p. 03, 745,
Church: Treas.. T. H. B. Mc933, 1025.)
PITTSBURGH FORT WAYNE A CHICAGO RY.—(See Maps Penn. RR.)
ROAD—Owns from Pittsburgh, Pa., to Chicago. Til
and branches, 470
track
409 miles
Leased to Penn. RR. Co. for 999 years
miles.
Double
from July 1 1869, and Is operated
directly with that railroad (V. 105. p. 2095); rental. 7% on stocks out¬
standing, payable Q.-J., and a sum sufficient to cover organization expenses.
In 1901 an extra dividend of 2% was declared on both stocks, but on
fuar. 1920 paid special dividend courts so
special stock only in case of 5H%
an.
decide. commonp.and preferred In
821, 1188. in
both V. 72,
on
of 1 M %.
Compare V. 108. p. 1275
CAPITAL STOCK.—A plan was adopted Oct. 17 1917 (1) increasing
the limit of capital stock to $100,000,000, thus permitting the issuance
from
time to time as required of $27,849,414 additional guaranteed
special stock, or as it is now known, common stock, with dividends pay¬
able under
lease at such rate as shall be fixed at time of issue; (2)
to rename the guaranteed special stock "common stock" as above stated,
and the "original" guaranteed stock as pref. stock and the latter to continue
to receive dividends out of *»ura of $1.380.000 set aside annually for this pur¬
pose under terms of lease, being equal to 7% thereon and to be protected as
stated In V. 105, p. 710; (3) the distribution of fund of approximately
$1,500.000. after meeting expenses of recapltalatlon. to all stockholders other
than Penna. RR. and Penna. Co. See V. 105. p. 716.
Under the above
t>lin the authorized capital stock was increased to $100,000,000, and there
had been Issued to Dec. 31 1920 $16,094,700 of pref. stock In exchange for
original guaranteed stock and $24,072,300 of common stock In exchange for
a like amount of guaranteed special stock.
addition to regular quarterly payments
Capital Stock Dec. 31 1920 (Total Authorized $100,000,000).
Authorized.
Issued.
Reserved for Conversion.
stock
$19,714,300
$16,094,700
$3,619,585 (original guar.)
Common stock
80.285,700
24,072 300
41,144.600 especial stock)
Pres.. Charles Lanier: V.-Pres., James F. D.Lanier and Charles A. Pea-
Pref.
body; Sec. & Treas., R. M. Coleman.—(Y. 112, p. 2191).
RR., 3 m.;
RR., 24 m.;
Eastern RR., see that co.
The Pittsburgh A Lake Erie and N. Y. Central RR. Jointly own $3,114,400 of the $3,959,650 Pitts. McKeesport A Youghiogheny RR. stock.
Covenants to pay New York Central Lines equipment trusts of 1913, Its
Share of the amount outstanding Dec. 31 1919 being $2,123,729.
Equipment trusts of 1920, V. Ill, p. 1473.
Equipment trusts issued to Director-General for rolling stock allocated
See article on page 3.
$o this company.
'12. *13
1914
to
Feb 1921
]12
11
10
50
35 22
15
10% yearly (F. A A.)
An extra dividend of 20% was paid Aug. 12 1910. and simultaneously
ohareholders were allowed to subscribe at par for 20% ($5,997,600) new
•tock. Increasing outstanding amount to $36,985,600
V. 103. p. 494.
DIVS.—f'07. *08.'09. *10.'11
Per'cent
Jan. 1—Mar. 31
EARNINGS.—
Gross
$7,149,808
68,717
—
Net after taxes.
Jan. 1—Dec. 31
1920.
1921.
1920.
Taxes,Ac.
1919.
$8,559,470 $35,570,807 $28,034,817
329,650
def.74,355
3,281.286
REPORT.—For calendar year 1919 In V. Ill, p. 785;
Calendar
Cross
Net, after
Total Net Interest, etc.Dividends
Year—Earrings.
Income.x
Charges.
Jan 3 1921
6
A
6
A
July 1 1932
July 1 1934
j""A*D
£g
(10%).
Balance,
Surplus.
do
fg
do
do
do
internat Bank, New York
N Y, Columbia Tr Co
Deo 1959
MAN May 11927
MAS Mar
1 1922
115,000
$
MAN Nov '21-Nov '22 Columbia Trust Co, N Y
do
do
MAN Nov '21-Nov'23
210,000
5
MAN Nov 21-Nov *24
156,000
5
J
A
A
A
30,000
<
14,491.600
£g
J
do
do
27
do
do
'27
do
do
Ju'y '21-Jan
O Oct '21-Apr
Columbia Trust Co,,
do
do
Semi-an. Aug-Sept '19
0*
MAS
NY
Columbia Trust Co, N Y
D June 1919
A
1905
do
Int
last
paid
do
PITTSBURGH & SHAWMUT RR.—Owns from Erie June., Brockwayvllle. Pa., to Freeport, Pa., main line, 102.96 miles; sidings, 53.04 mlleg.
Federal Compensation.—The Board of Referees appointed by the I.-8. O.
awarded the company compensation amounting to $563.622
the period the company was under Federal control.
The company
Commission
for
asked for
compensation amounting to $773,072.
BONDS AND NOTES.—In 1909 sold $4,000,000 of an authorized $12,
WO,000 of
Dec. 1914.
50-yr. 5% g. bonds, callable at 105; ann. s. f., $100,000. begThe bonds
are
secured
on
103
the
m.
In operation; also pledge
of $11,953,000 of $14,491,600 Ref. 4s and $58,000 of $164,000
Nor. 1st 6s outstanding, pledge of entire $3,606,362 stock and
5%
Pitts. 8. A
$2,019,703
notes of Allegheny River Mining Co.; also contract with last-named
coal tonnage. Total bonds Issued $11,000,000,
$3,00 =>.000 outstanding. $99">.000 have been canceled by sinking
company for minimum
of which
fund and $8,000,000 pledged as collateral (see below).
Under plan of refinancing May 1 1917, $8,700,000
10-year 5% Trust
Notes were authorized, of which $7,260,000 were Issued together with com¬
pany's $1,500,000 one-year 5% trust notes, to provide for bills payable and
demand notes then outstanding also to provide for cash payments on car
trust dated April 1 1917.
These $7,260,000 10-year notes, which In June
1917 were held by the owners of the property, were on Jan. 11918 secured
by pledge of $7,000,000 of the company's 1st M. 5s of 1909 and $3,000,000
1st M. bonds of Allegheny River Mining Co. and "$600,000 value of loco¬
motives and cars borrowed for this purpose from the Alleg. Mining Co.
Ths remainder ($1,500,000) of the 10-year notes were reserved to retire the
$1,500,000 1-year issue due In May 1918; but in March 1918 $1,500,000
9-year notes were sold to take up the latter.
Ths two-year Collateral Notes of 1918 were paid off on March 1 1920.
The one-year Collateral Notes ext. to Mar. 1 1922 are secured by $1,000,000 1st mtge. 5% bonds of Pittsburgh A Shawmut RR. and $510,387 6%
demand note of the Allegheny River Mining Co.
V. 110, p. 2388.
An¬
nounced in March 1921 that the notes "are held privately by majority
stockholders of the company and are being carried as over-due company
obligations, on which the interest will be regularly paid "but the principal
may not be called for a year or more."
Jan. 1—Mar. 31
1921.
Gross
Net after taxas___„_._-
1920.
$406,111
9.126
$393,867
52,813
REPORT.—For calendar year
Income, $248,703; total income,
bal., sur., $495,370.
Jan. 1—Dec. 31
1919.
$1,115,124
def.188.873
1920.
$1,858,382
288,947
1920 showed:
Grosrf, $1,859,282; oper.
$1,206,209; int., rentals, Ac., $710,839;
.
In the calendar year 1920 the company
Compensation.—$8,980,219 yearly during Federal control.
Y.
109, p. 169.
In Jan. 1910 a 99-year traffic agreement was made with the Western
Maryland.
V 90, p. 237: V. 92. p. 874.
STOCK.—Operated In harmony with the N. Y. Central, which, Dec. 31
1919, owned $17,993,100 of the $35,985,600 outstanding stock.
P. A L. E. owns stock of Pitts. McK. A Yough. Ry. (see below; stock
and bonds In Monongahela Ry. Co., which see above); Mahoning State
Line RR., $96,160; Pittsburgh A Clearfield RR.. $107,000; Lake Erie A
Federal
LATE
'21-Oct
A
EARNINGS.—
PITTSBURGH & LAKE ERIE RR.-(S«e Maps N. Y. Central RR.)
—Owns from Pittsburgh, Pa., to Haselton, O., 65 m.. to be 4-tracked;
branch lines to Newcastle, Elwood City, Ac., Pa., 10 m.; total owned, 75 m.
(of which 68 m. double track); 49 m. 3d and 45 m. 4th track; leases Pitts.
IdcKeesport A Yough. (which see), 118 m.; Mah. State Line
trackage rights Monongahela Ry.; 1. m.; Ferrona branch. Erie
Haselton to Youngstown, Erie RR., 3 m.; total 224 mHp«.
15,000.000
3,005,000
7,260.000
1,500.000
100
A
Co. (all the securities of which are
bined
and the Allegheny River Mining
owned by the railroad co.) showed com¬
earnings of $1,984,151, while the combined fixed charges wsrs
$869,162, leaving a surplus of $1,115,689.
net
DIRECTORS.—E. F. Searles (Chairman), Wm. Shillaber Jr.,- John
Hubbard, Edwin E. Tait (Pres.), Herbert G. Gates, Dwight C. Morgan
(V.-Pres.), John S. Porter, Nathan L. Strong, L. G. Bonstein, A. C.
Griffith (Treas. A Aud.), F. H. Davis, Arthur T. Walker, Lewis L. Delafield, E. E. Rudd, R. E. Ball, W. W. Morrison, Edgar W. Tait.—(V.
112, p. 1283, 1399.)
r PITTSBURGH
SHAWMUT 8c NORTHERN RR.—Owns a road ex¬
tending from bituminous coal fields in Elk County, Pa., northerly to Wayland, N. Y.
Total road owned. 160 miles; total operated, 205 milee.
The
allied Pittsburgh A Shawmut RR. (which see above) has constructed a line
running through extensive coal fields (large areas being owned by those
identified with the enterprise) to Freeport, in Pittsburgh district.
Miles.
Owned—
W ay land,
N. Y., to Hyde. Pa. 144.59
Prosser to Olean, N. Y
Kaason to Hazlehurst, Pa—.
Brown's Run Branch
9.00
4.81
1.54
Leased—
Clarion
River Ry
Miles.
12.tC
Trackage—
Hyde to Brockwayville, Pa
1.17
Wayland to Wayland Jet.,N.Y. 1.20
Mary's, Depot to Junction
BrockporttoHortonClty.Pa.
St.
Leased—
Moraine to Hornell. N. Y
10.38
Kersey RR. to Cardiff, Pa
0.42
2.41
12.08
Total
REORGANIZATION.—On Aug. 1 1905
a
operated—
204.0#
receiver was appointed.
V.
92, p. 188; V. 96,.p. 864; V. 101, p. 208j. V..
2521.
Receiver's certificates, V. 92, d. 323. 396; V. 101, p. 208, 213, 449;
V. 102, p. 977; V. 105, p. 389.
<5n Dec. 31 1918 Pittsburgh A Shawmut
above) held (a) a demand note of the receiver of P. S. A N. RR.
secured by $510,000 receiver's certificates, issue of June 1914;
(b) $11,953,000 of the company's Ref. M. 4% bonds and $58,000 of its
1st M. 5s (V. 107, p. 599).
Car trusts 1907, V. 86, p. 169.
As to suit
touching receiver's certificates, see V. 101, p. 2145; V. 100, p. 930.
The $5,836,000 old rirsts of 1899 exchanged for the bonds of 1902 hare
not been canceled.
V. 75. p. 291.
In 1917 there were still outstanding $733,000 5% bonds of 1892 of ths
former Central N. Y. A Western RR., the holders of which claim as regards
the 67 miles of road extending from Wayland to Angelica, Hornell to Mo¬
raine, and Olean to Bolivar, 7,the priority of the lien of said bonds, or at
the mortgage securing the same, or of the judgment or decree of foreclosure
of the latter, to the lien of the bonds [and also the receiver's certificates of
the Pittsburgh Shawmut A Northern RR.
In Jan. 1918 the foreclosure sale of this piece of road, sought by ths
RR. (see
28.034.187
3,281,286 10,171,599
1918.—32.992,273
9.742.766
9.544.051
1917
25,621,654
7,634,163
8,084,180
1916—24.043,163 11.429.331 12,700.125
Pres., Alfred H. Smith; Sec., Edw. F.
Barger.—(V. 112, p. 563, 745, 850.)
1919
3.598,560
4,485,940 3.598,560
2,122.481 3.598,560
4,078,777 3,299.280
Stephenson; Treas.,
2.450.108
1,459,552
2.363.139
5,322,068
Milton S.
PITTSBURGH McKEESPORT & YOUGHIOGHENY RR.—(See Map*
New York Central Lines).—Owns from Pittsburgh to Connellsville, Pa.56.70 miles; Belle Vernon Jet. to Brownsville Jet., Pa.. 38.52 m.; branches
31.00 m.; leases. 2.00 m.: total, 118.22 m.( of which 95.22 miles double tr'k
LEASE —Leased to Pittsburgh A Lake Erie RR. for 999 years.
Rental
la 6% on the stock, principal and Interest of the Pittsburgh MoKeesport A
Youghiogheny bonds being guar, by Pitts. A L. Erie and Lake Sh. A Mich.
Sou. (now N. Y. Central RR.) companies, the guaranties being endorsed on
the share certificates and bonds.
The guaranty of the stock is on the ex¬
press condition that the holder shall acoept par for the same on July 1
1934
See wording of guaranty In V. 56, p. 774.
Stock authorized,
$4,000,000; first mortgage bonds authorized, $2,250,000; second mortgage
bonds authorized, $1,750,000.
Ths Pitts. A Lake Erie and Lake Shore A Mich. Sou. (now N.Y. Central
RR.) offered jointly to purchase the stock at $65 per $50 share; $3,114,400
acquired up to Dec. 31 1919.—(V. 106, p. 818; V. 107, p. 182.)
Equipment trusts issued to Director-General for rolling stock allocated
to
this company.
See article on page 3.
for $510,387,
Pacific Impt. Co. as owner of $650,000 of the bonds of 1892, was deferred
by the Court, but the railroad was required to give bonds for $400,000 te
protect the Impt. Co. from loss arising from the delay.
See V. 10#.
p. 190; V. 105. p. 812.
Protective committee for P. 8. A N. bonds. Howard Bayne, Chalrmaa:
A. N. Hazeltine, Sec., 60 Broadway, N. Y.
In April 1910 a majority of
each class of bonds had been deposited with Columbia Trust Co. as deposi¬
delaying reorganization, V. 105, p. 389.
certificates, Charles A. Austin, Chair¬
V. 106, p. 930.
V. 102. p. 438.
For causes
Committee to protect receiver's
tary.
man; John A. Burns,
Secretary.
MAY, 1921.]
RAILWAY
RAILROAD
Mites
see
notes on page 6]
Far
Amount
Rats
When
Bonds
Value
Outstanding
%
Payable
$30,500,000
9.100.000
$100
Text
1897
1920.
$369,928
Net after
def.140,982
taxes..-
def.69,787
Dec
1-
31
inet), $403,704; interest on funded debt, $158,242; other interest charges.
26,212; rentals and other fixed charges, $12,150; net loss. $305,277.
Receiver, Henry S. Hastings.
See directors of Pitts. & Shawmut above.
—(V. 105, p. 389, 812; V. 106, p. 190, 930; V. Ill, p. 2141, 2230, 2521.)
PITTSBURGH A SUSQUEHANNA RR—(V. 108, p. 235. 1937.)
W. Va. By
TERM. RR. A COAL CO.—See Pitts. A
PITTSBURGH
&
WEST
VIRGINIA RY. (THE).—Owns road ex¬
tending from a connection with Wheeling A Lake Erie Ry., near Jewett. O.,
easterly to Pittsburgh, Pa., about 60 miles: also 4-mile connection with Union
RR., and extensive terminals at Pittsburgh, and the entire $16,000,000
stock of Pittsburgh Terminal RR, & Coal Co., and ownership of the $1,080,000 capital stock of the West Side Belt RR., operating a belt line from
Pittsburgh to Clairton, Pa., 21 miles, and branch of 2 miles.
V. 108, p.
262, 1611; V. 101, p. 44.
To segregate coal properties.
V. Ill, p. 494.
On Nov
15 1920 the stockholders approved the purchase of the West Side
Belt RR.
V. Ill, p. 897. 2041.
ORGANIZATION.—Incorporated in Penn. and W. Va. In Jan. 1917 as
of Wab. Pitts. Term. Ry., foreclosed per plan in V. 103, p. 940;
successor
V. 104. p. 74. 258.
STOCK.—The
(p. A d.) became cumulative Jan, 1 1921;
9() days' notice at 105% and divs.
The
approved an increase in the capital stock
from $39,600,000 to $47,000,000.
Compare V. Ill, p. 2041.
Dividends on pref. stock Sept. 1 1917 to May 31 1921, both Inclusive,
«% P a. (1H% Q.-M.).
BONDS, Ac.—The new company has made no bonds.
The undisturbed
obligations Include Pitts. Term. RR. A Coal Co. 1st M. 5s of 1902. due
July 1 1942 (see V. 105, p. 1618); $3,417,000 guaranteed by West Side Belt
RR. (V. 78. p. 703V; Went Side Beit RR. 1st M. 5s. $379,000
Equip, certificates West Side Belt RR., V. 102, p. 1164; V. 104, p. 1265.
it
is
pref. 6%
new
subject to redemption on
on
Nov.
15
1920
Jan.
EARNINGS—
1 -Mar.
31
1921.
Net after taxes
1920.
$495,618
def.110.794
Gross
$476,887
def.162,739
Net, after taxes.
—
See
1918.,
"x"
J
9 Mos, '17
$1,907,418
689,506
420,000
,160,000
$280,000
$840,000
501,123
232,233
224,328
312,571
x$512,233 x$l,064,328
124,685
214,708
(6)544,242
(6)543,363
$1,422,077
177,722
(less taxes, Ac., in
1918)
Gross income
Interest, Ac
Dividends
Balance,
x
"x"
_ydefl90.367
Div. P. T. RR. A Coal Co.
Misc.
See
31
1919.
$1,452,608
def.691,817
def.300,244
REPORT—For cal. year 1920, In V. 112, p. 2084:
Year 1920.
Year 1919.
Year
Gross earnings______-—y$2,254.048
1 -Dec.
Jan.
1920.
$2,577,075
—
sur.
or
$470,755
37,076
(6%)544,242
No contracts having been signed fixing the amounts to be paid by the
RR. Administration for the use of the two roads, the company for
0". S.
1919 aod 1918 reported enly its "other income" (exclusive «f such compen«atian) with charges, Ac.
Y.J H. E. Far-
rell, Pres., Pittsburgh; W. H. Coverdale, V.-Pres.; II. C. Moore, Sec. A
Treas.; Arthur H. Van Brunt, General Counsel, and J. J. O'Brien, Asst.
gec - y
^01*]^
Directors.—W.
R. Coverdale. Haley Fl«ske. W. R. Nicholson. J. B.
Dtstais, Richard Sutro, Eugene V. R. Thayer, Walter L Haefalen, George
P. Smith, Ernest Stauffen Jr., A. 8. Wing, Arnold L. Scheuer, H. E. Farrell, Joseph Walker Jr.—(V. 112, p. 1978, 2084.)
PITTSBURGH YOUNGSTOWN A ASHTABULA RY.—Owns Kenwood)
Pa., to Ashtabula Harbor. O., 99 miles; Nlies to Alllanoe Junction. O., 24
miles; Homswood to Wampum Juno.. 6 miles: Lawrence Juno, to New
Castle, 3 miles; Bessemer Branch, 5 miles; trackage, 1 mile.
Total, 138
miles.
Pennsylvania Company owns $5,774,500 of the pref. stock and alas
the $2,100,000 common.
Leased to the Pennsylvania Co. for 999 ypars
from July 1 1910, the rental to cover all charges, maintenance and 7%
dividends on both classes of stock the cost of betterments to be represented
by stock or bonds bearing such rate of dividend or interest a» may be
satisfactory to the lessee.
On Jan. 1 1918 lease was transferred to Penn#
RR. Co. V. 90. p. 915, 1364; V. 92. p. 1243.
BONDS.—First Gen. mtge. bonds of 1908, $15,000,000 auth., of which
$4,660,000 outstanding, $340,000 having been canceled by sinking fund.
1823; V. 105. p. 73; V. 87, p. 416; V. 97, p. 729; V. 98, p. 1538,
1994; V. 99, p. 50; V. 107, p. 2290.
V. 108, p.
300.000
4
4
5,305.000 4 A 5 g
5 g
1,500.000
4 g
340,000
6 g
475 j000
A
Pennsylv
&
A
J
A
J
A
D June 1
A
&
Portland. Me
2% Portland, Me
O See text
A
6H g M
A
4
J
A
4 g
J
&
¥
Old Colony Trust, Boston
Portland, Me
do
1 1924-34
June 1 1935
do
3 A J 1927 to *29 Portland. Me and Boston
A
Q—M
N
do
Feb
J
A
do
Oo.
RR
do
Aug 1 1927
J
10
4
do
1 1927
D June 11948
A
J
v
Nov
text See text
F
Treasurer. Pittsburgh
June 1 1921
Feb 1 1921
Q—F
MAN Nov 2 1926
F
4
3.500.000
1,500,000
A
text See
300,000
N Y. Boston A Portland
July 1 1961
Jan 1 1941
Reading Terminal, Phila
1949
June 30 '21,
O Oct
1 1947
PennCofor Ins, Ao, Phils
See text
2H
Cheoks
mailed
R I Hosp Tr Co, Prov, R1
S Sept 1 1921
J Perpetual
Metropolitan Tr Co, N Y
London and Toronto
July 2 1906 2 H Cheoks mailed
do
Apr 1 1914 2%
J Jan
11952
Office, 165 B'way, N t
PORTLAND TERMINAL CO.—Owns railroad property In the cities of
Portland, South Portland and Westbrook; sub-leases from Maine Central
property belonging to the Portland A Rumford Falls
RR. and
Portland & Ogdensburg Ry.
Furnishes terminal facilities at Portland
(Including
passenger
and freight
stations,
wharves, ooal-discharging
the
Slants, shopsmiles yard leases 8.27for the of track. 2d. 3dand4th tracks owned.
and and facilities) miles Maine Central & Boston A Maine,
23 42
>wns
m ; leased, 4.24 m.: yard tracks and sidings .owned, 66.86 m ; leased.
12.46 miles.
V. 95, p. 1202.
Formerly Portland Union Ry. Station Co.
V. 92, p. 1566.
The tenant companies pay In proportion to use all costs
of maintenance and operation.
Stock. $ 1.200.000. owned by Maine Cent.
12.21
BONDS, ETC.—The Boston A M. and Maine Cent, jointly guarantee the
$300,000 bonds of 1887-89.
V. 93, p. 940.
The 1st M. bonds of 1911
($10,000,000 auth. issue; Fidelity Trust Co., Portland, Me., trustee), are
guar, by Maine Central, prin. A Int.; $4,500,000 bear 4% and $805,000
5% int.; the unissued $4,695,000 are reserved for extensions and Improve
ments at not exceeding cost.
V. 95, p. 1332, 1404; V. 108, p. 2023.
Pres., Morris McDonald; V.-P. A Gen. Mgr., D. C. Douglass,
Port
land, hie.—(V. 107, p, 2188; V. 108. p. 2023.)
PORT READING RR.—Owns 21.16 miles of road, completed Sept. 1892
Port Reading Juno
N J., to coal nlers on Staten island Sound; sid¬
from
,
ings and laterals. 57 83 miles: total. 78
99 miles
refused the six months' extension of the Govt,
Capital stock authorized, $2,000,000; par, $100, al) owned
Co., $1,555,000 being deposited under Its general mortgage
$440,000 under its Jersey Central collateral mtge.—(V. 55. p.
P- 2193.)
The company
guaranty.
by Reading
of 1897 and
680; V. 110,
POTOMAC FREDERICKSBURG & PIEDMONT RR.—(3 Ft. Gauge.)
—Fredericksburg to Orange, Va., 37.6 miles.
Stock auth., $1,460,000
outstanding, $446,600.
par, $100.
Of the first gold 4s, $300,000 is re¬
served for issue on vote of stockholders.
V. 89, p. 470.
For year ending
Dec. 31 1920,gross, $105,059; net income $2.5,398; charges, $14,700; bal.,
sur., $10,098.
Pres., Geo. W.
Richards, Fredericksburg, Va.; Sec.,
Gilbert W. Sheldon.
Office, Fredericksburg, Va.—(V. 89, p. 470; V. 95.
1123 J)
p.
i
*
4
•
RIO VERDE RY.—San Luis, Potosi, on National Rys. of
Mexico to Ahuacatal, 38 miles.
As a result of the political disturbance*
In Mexico since 1910. It was found necessary to suspend payment of Interest
POTOSI
&
company's bonds which became due on Oct
1 1914 and subse¬
The principal, amounting to $600,000, of which $78,000 are
the sinking fund, matured Oct. 1 1918, and in Sept. 1918 local
political conditions permitting operation at a fair profit It was proposed,
subject to acceptance by substantially the entire Issue, to extend the prin¬
cipal of the bonds for 10 years, to pay In cash the coupons which matured
on Oct. 1 1914, April 1
1915 and Oct. 1 1915, and to pay In scrip, bearing
Interest at 6%, the remaining six coupons, such scrip to be secured by the
surrendered unpaid coupons, and to be payable in 10 years with the right
of prior redemption.
Depositaries for assenting bonds, V. 107. p. 1193.
Spencer TraRk A Co., N. Y., or Isaac Jackson, Esq., of 50 Congress St.,
Boston.
President. George Foster Peabody, N. Y,—V. 107. p. 1193.
the
on
quently.
held
In
PROVIDENCE A WORCESTER RR.—Owns from Providence. R. t., to
Worcester, Mass
44 miles, of which 5 miles are owned Jointly with Boston A
Providence; branches, 7 miles; total owned. 51 miles; July 1 1892 leased for
EARNINGS.—In
1919, gross, $9,941,567; net, $461,727; Income from
(Federal compensation), $1,038,447; Interest, Ac., $255,218;
pref. divs. (7%). $636,230; com.dive. (7%), $147,000—(V. 108, p. 24S4.)
99 years at 10% per annum on stock to N.
PORTLAND A RUMFORD FALLS RR.—Leases for 1,000 years from
April 1 1907 the Portland A Rumford Falls Ry. and the Rumford Falls A
Rangeley Lakes RR., together extending from Oquossoo, Me., to Rumford
Junction, 94 miles, with branch to Li vermore Falls, 10 miles; total. 104 miles
Lease provides for Interest on bonded debt of two companies and 8% on
$2,000,000 stock of P. A R. Palls Ry. and 2% on $300,000 stock of the R P.
A Rangeley Lakes RR.
The company is Itself leased to the Maine Central
RR.
V. 84. p. 868; V. 85. p. 922.
Has $1,000,000 auth. stock.
Dlvllends, 6% per annum since 1907.
Of the $2 705.000 bonds of the R. P A
E
L. RR. and P. A R. F. Ry., as above, $475,000 were in sinking funds in
Dec. 1921; debentures of 191$. ses V. 102. p. 773.
Y. N. H
A H,~(V. 105.p. 2457.)
PUEBLO UNION
DEPOT A RR.—Owns union passenger station at
Pueblo, Colo., with 2.59 miles of track and sidings.
Stock auth., $300,000:
outstanding, $40,600; one-fifth being owned by each of the tenant reads,
Denver A Rio Grande, Atch. Top.
A Santa Fe, Colorado A Southern.
Missouri Pacific and Chic
Rock Island A Pacific, which contribute $4,000
yearly to a sinking fund to redeem bonds.
Latter were extended frosa
Sept
1 1919 to Sept. 1 1921, lnt, rate being raised from 6% to 6*4%.
Operations are all at cost for benefit of tenant lines.
Pres.. A. R. Baldwin:
V.-Pres., C. H. Bristol, La Junta, Colo.; Supt., C. W. Climenson; Sec. &
Treas., A. S. Booth, Pueblo, Colo.—(V. 109. p. 888.)
QUEBEC CENTRAL RY.—(V. 107, p. 1670,2094; V. 109. p. 1793,2072.)
QUEBEC A LAKE ST. JOHN RY.—Owns Quebec, Can., to Robervai on
John, 190 miles, with branches Cham bard to Chlcoutlnl, 51 m„
Lake St.
and
La
286HI
V.
Tuque Jet. to La Tuque, 40 m.; Gasford branch, 5*4 m.: total,
V. 94. p. 279, 1186.
Controlled by Canadian Northern Ry.
1600. 1607.
Stock outstanding. $4,524,000
debenture stock see Canadian Northern Ry. (bond table) above
m.
98.
p.
As to
and
also
see
V.
94. p. 279. 1186.—(V.
96, p. 361.)
RY.—Owns Delson Junction
Lambert to For81.09 mj total,
Del, A Hudson,
operates from Rouse's Point to Delson Jet., 27.06 miles.
Stock authorized, $2,000,000: outstanding, $1,000,000. *11*0wned by the
Del
A Hudson.
Certificates of indebtedness. $6,000 000.
For year end¬
ing Dec. 31 1920. gross, $787,977; expenses A taxes, $870,984; other income.
$103,115; charges. $329,725; deficit. $9,517.—(V. 106, p. 2346.)
QUEBEC MONTREAL & SOUTHERN
main
line, Napierville Jet. Ry., Que., 1.40 mile*; St.
tiersvllle. Que., 109.69 m.; Bellevue Jet. to Noyan Jet.,
192.18 miles.
Napierville Junction Ry., also owned by
to
'
OUEEN & CRESCENT."—Common name for Cln. N. O. A Texas Pac.
Sou., Ala. A Vicks. and Vicks. 8hreve. A Pac. lines.
Ala. Gt.
lease of road
June 1 1921
.
(3)273,000
def—def$110,562defx$156,694surx$306,257 sur$971,355
y For ten months.
OFFICERS.—W. H. Coverdale, Chairman of Board, N.
&
J
8.000.000
1919.
$1,125,756
def.357,017
,1920.
$1,584,472
def.469,905
&
Ry.
Line
operations (after deducting $22,371 tax accruals), $512,377; other income
stockholders
Where Interest an'
Dividends are Pavabl
May 31 1921IH
1 1937
Plttsb'h, Colonial Tr Oc
Sept 21-Mar '26 N Y. Blair A Oo; A Pitts
O Oct '21-Apr '27 Fidelity Trust Oo. Phils
J July 1 1942
Colonial Trust Oo, Pittsb
Q—M
Q—M
4 g
4 g
307.000
4.359 015
3,486,420
1.936,900
REPORT.—Receiver's statement In July 1917 was In V. 105. p. 812.
For cal. year 1918, total operating revenue, $1,216,348; net loss from
PITTSBURGH
Places
S Sept
MAN
8
100
-Jan
-Jan. 1- -Mar. 31
1921.
$298,908
Maturity
& 815
4 g
1.000
1902
M
5
1,000.000 See
100
Augusta—Raleigh & Gaston—See Seaboa rd Air
EARNINGS.
Dividend
and
7
2.000.000
855.000
350.000
500.000
1.000
Preferred stock 4% cumulative $10.000,000..Xr111 Cent stock lnt oertfs cum gold Ser A red 105-Us
RAILROAD
7
100
Quebec & Lake St John—1st M deb stock sruar
Railroad Securities—Stock common $10,000,
Gross
J
1.000
..
&
A
5 g
2.100.000
9.089.000
1,538.000
4.660.000
•
Raleigh A
5
3.417.000
1902
Pittsburgh Term RR A Oeal Oo 1st M s fd.CPi.zc* Text
1.000
Pittsburgh & Western—See Baltimore A Ohio RR
Pittsb Westmoreland & Somerset—8ee Cambria & Pittsb urgh R R.
138
100
Pitts Youngst A Ash—Com stk $2,100,000 7% guar.
Preferred stock 7% guaranteed $9.100,000
138
100
Oonsol mtge sinking fund 1% not drawn
123
1887
F.xo*
1,000
Ftrst General mortgage $15,000,000 goldsf. .Cejto*
1908
138
1.000
Portland & Rochester—See Boston A Maine RR
100
Portland A Rumford Falls RR—Stock $1,000,000—
100
Portland A Rumford Falls Ry—Stock 8% guaranteed
Oons (now 1st) M $1,000,000 gold
96.35
1896
OB.ao*
1,000
1897
500 Ao
Debentures sinking fund gold $350,000
so
Collateral trust bonds $500.(XK) sinking fund
1904
500 Ao
x
Debenture bonds guar p & I by end by Me Oen RR
1915
'87-'89
"T.ooo
Portland Term Co—P Un St ods (not M) ser AAB g s f
New M $10,000,000 gold guar $805,000 ar*s5%
1911
1.000 Ac
(text)
xc*Ar*
1891
Port Reading—1st 11 gguar by old P do R.. PeP.xo*Af
1.000
1909
Potom Fred & P—1st M ar red 105 slnoe Deo *09 PeP
1,000
1898
1.000
Potosi & Rio V—1st M $15,000 p m call 110 Q.xc*
Providence & Springfield—See New York New Haven AHor tford
Providence Terminal—See New York New Haven A H artfor\<
Providence A Worcester—Stock (10% rental)—....
First M (ref) cur $1.500,000 (V 63. P 1064)
.so*
Pueblo Union Depot & RR—First mtge ext call par In
1920.
..a./Hp.so
Q—F
M
5 g
5
l'OOO
1917
6
378.000
425.000
900.000
1.000
1916
Equip ctfs SerT*A" due 42 M & 43M s-a C
Equip tr ctf Ser "B" due $75,000 s-aFP.c*
do
Last
RR
Pittsburgh Virginia A Charleston—See Pennsylvania
Pittsburgh & West Virginia Ry—
Common stock par $100 a share
Pref stock 6% (p A d) cum after 1920; call 105 A div
West Side Belt 1st M «
UPix
do
Date
Road
COMPANIES
[For abbreviations, 6zc.%
111
STOCKS AND BONDS
Central RR. of New
Va'ley RR., and Summit, on the Del,
380.
Operated under lease by Rah way
RAHWAY VALLEY RR.—Owns Aldene, N. J., on
Jersey, to Roselie Park on Lehigh
Lack, A West., 10 miles.
V. 83, p.
Valley Co.
Bonds auth.. $400,690
July 1 1931.
Of the bonds, $328,000 with $164,000 stock
deposited as collateral for notes payable.
Pres. of
Co.. C. J. Wittenberg, Springfield, N. J.—(V. 90, p. 699.)
htock
auth.,
$400,000; outetandlag, $213,200.
1st 25-year 5§ due
were
R.
at
V.
last accounts
SECURITIES CO.—Owns $9,200,000 Illinois Can**!
$8,000,000 pledged for Its Interest certfs.. Interest at 4%
(cumulative) being payable If received from dividends on the shares pledged,
the stock itself being deliverable to the holders of the certificates at maturity
anises the option to call at 105 Is In meantime exercised. V. 74. p. 937,1069.
RAILROAD
ftock, of which
RAILWAY STOCKS AND BONDS
JMIiwkuwM]
Rapids.
LAKE
■anaing
Deoison
MICHIGAN
lamS
St.Joa'-'p,!
jAt-ayne-
[MonoX
c
k
\
tooiuingtou-
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p^ilfissottr
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^nsareTt^
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(\0fiVf»e
Millstadtjpi
C^HIatoo1
sou
Hnitlngborgj
Nevada
NLfncolB CrJ
du.^^W °*#v
■"IfSSSI
Bismarck
Eldorado,
Cecilia
f burgih
BpnagBeli
; Junction'
Centra)
Aurora
Willftw
Citj)
Waynoeburrtjr
Mammoth
'riocetoi
8omer8et3i
Raducah
p°P)arBJuff,
Burnaide-J
Bowling Green
^Hojikinsvi
Columbi
Greenwood"
Stearns;
(Clarksviiie
-Puiton-
Winfleid^
IMartin
/aj-ettevfib
Nash villi
f532ff-
Runtington
Humboldt
'ackson
®us«elivfjj(
dumbja.
London
fartford
[^WaynejJf;
jfAthens
tySMPHJi
Xittle Ro!
iBrinkle'
Cukutta
Hot Sprii
Dalton
Clareod<
NsBluff
A'arrllle
GREEN,
Vattoosou'
lNewrnan^Jl
S Williamsom
'USCAtOba*
jNeffeiw
Nl^arshin
?k*0?A
Ǥreetiw(^\
^WamSpri^Jg)
Maple«*i»e!
y\Vick|bura
OLUMBUS
ackaoi
-Ecterp'riie
^nnfleld
Weatbroolo
Pacbuta
Arklmbrougb
'sunny
Ferridai
.Waynesboro
'Americas
8outh
Fulton
Pinevilie
Georgian!
Aiex&ndf ia
.Hattleabi
UBtucLW
Fernwi
Iville
'Calvert
Camilla,
•DothajT
Breirton
Atrnoi
djersvTUe^
Flomaton
Xifielousi
Lake-Chat leg
tainbridge
'Crestview
Baton Rouge
'
Cot torn
mobile
Kinder
Theodere
Fayette
iV
Guifporf,
SltfllahaMe®
>£•» Iberia
®ORM9,N8
iachicola
MAT, 1921.]
RAILWAY
STOCKS AND BONDS
113
Rochester
Norwich
Albany
M'
Detroit*
Jtinghamtoi
Eltui'rti^c;
_(llean
f/^AjHartlord'
eepsie
/
/ JSi
J>C
*•
Emporium
Cie*elnu<lA
.Williamson
fFraukli)
Lock HaVcr.,
Fostorj
.Akroii;
,ReaiIius
Pittsburgh
aps,
/
'renton
LJMTre
Steiibenville
Philadelphia-
^V*
rCaindcn—
lambersbut'g
Coshocton
Bella fre.
o-
'Wilmington
Hyodmaii
'\Vitislo\\2flc.
.Columbus.
.piuubert^,.
iug^rstawu
New'Martinsville
.WasETngton
^Marietta {-t>
Oration
^ParUersburc
Bt0£wP$<Z/_
ihilUcoUie
tUb»*¥**/n /
gHo yl?N
inapolia
*-u.
Beverly
SjMjncer
PTon.
Portsmouth
Sulishnr)
^ H AR RI SONBil RG
tajsville
/
I
Charleston
luntiugton.
c
Frsderlcl
%*«
Deepwater
Do (well
Sterling,
Naugaiuck
Jackson
iinton
\<r
Pikevillc/
gj£ Petersburg
Graham
'Suffolk
[tVPORIA-
Csseadej
htcW^—ACN0EB»01
-«o^V
,t«SBOHO
KdCotonS
'Tarboro
llnivei
'>*
rPlymontl
I
Kingston
'C.Hatt^raa
'Fayeucvillc
.Pembroke.
Belton.
(Darlington
IChadbourn
VpfrfcllMTER Jo
f] ^^j^lingvilie^
Cv\ Union (Point
H/4
St'
\V
y
Gordon
^/llBranchvilie
[yrtleBcach
bis i
■yV?***?
Camak
y
M"5"
v
y
;etown
J
/uTe
^v?Kw^con
1
LESTON
^iit\s A
-Ks »\
»/\Vemas:e
-Statesbort
'
\Por£jRoi
HardeeelfleX/
Meldrim
SAVAN NXH"
McIuU-shj
-Ladorrici
'Wort a]
lubury
JLSUt>)
tUNSWICK
FiAkilon
LEGEND
lasper
Madison
W-B
/
'
Oawf
•PWhlu SpringsU
Southern Railway
ACKSONVILLE
^Cincinnati, New
Orleans & -Texas Pacific Ry.
Alabama Great Southern Railroad.
Southern
t/An gas tine
New Orleans & Northeastern Railroad.
Harriman & Northeastern
Railroad.
>>
Railway
System
^Northern Alabama Railway.
Double Track.
:
Owned by Southern Railway Company—leased to other companies.
Melbourne
Operated separately—majority stock owned.
Other lines in which the Southern
Principal connections.
Miami-
v
i
c'/mN'SV
I
■<Zy\~T7s
Railway Company is interested.
>
&c., see notes on page 6]
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
1900
1906
$200 &o
200 Ao
1909
500
100
350,000
1.000
1,000
400.000
750.000
850.000
1.000
1,000,000
6
1921 2H Jersey City
New Jersey Title
A Tr
1 1939
J
A
J Jan
Reading Terminal. Phila
MAS Sept 1 1950
do
do
MAS Mcb 1 1962
Interest not paid
J
A
D Deo 1 1917
150.000
5
MAS Mrh 1
43
43
Raleigh & Southport Ry.—See Norfolk & Southern
Raleigh & Southwestern—See Chesapeake A Ohio.
Rapid City Black Hills & West—IstMred textEq.xoAr
R.riUn River RR—Stock $1,000,000 auth.
First mortgage gold—
zc
Reading Belt—1st M guar p 8c 1
kv
Reading & Columbia—1st consol M g
PePkv
Debentures..
Reading
First
1889
1900
23
8
1877
1912
Company—Common stock,;
preferred stock 4% non-cumulative
1897
1901
1907
1900
1916
1917
Text
Philadelphia Subway M $3.100,000 gold—PeP kv
Wllm Si Nor stk tr ctfs g red 105 (V 72, p 340) GP.xr
Equip trust Ser F due $300,000 s-a
PeP
ao
do
Ser G due $450,000 s-a
-—PeP
Old Phila & R RR (now Ry)—Bonds Underlying Qen
Delaware River Terminal purch money M gold-.xo*
Delaware River Term ext purch money M gold _xo*
■Mortgage loan of 1868 gold extended 1893— kvoAr
■Imp M gold ext '97 (see V 65, p 870) g. PeP. kvoAr
■Consol mortgage 5s ext 1897 (V 65. p 278), kvoAr
of 1897 requires that the
Excludes $783,000 In treasury
Union Pacific on
R
Reading Co Dec 31
1897.
1,000
1,000
1,000
148
325
1873
1882
1891
'94-'98
327
eadtng
The
the
Line
—
9.4
Carbon RR.*
2.0
Mill Creek A Mlna H. RR.*
6 1
Sohuylklll Valley Nav. A RR.* 17.0
East Mahanoy RR.*
11.3
Shamokin Sun. A Lewiston*— 32.1
Phila. German. A Nor. RR.*- 21.7
Chestnut Hill RR.*
4.0
Catawlssa
RR. * —
104.0
Norrlstown Juno. RR—
0.3
Norrlst. A Main Line Conn
0.6
North Pennsylvania RR.*
88 1
Delaware A Bound B
RR.*
31.0
Schuylkill A Lehigh RR.*
47 6
Phila. Har. A Pitts. RR.*
45 8
Wilmington A North. RR.*— 90.4
Phila.
A Reading Term
RR.
1.2
New York Short
Total system
A
&
READING
Delaware
In the reorganization aoqulred the security
equipment. Ac., of the old Phila. A Reading RR f o.,
Court on Dec. 10 1912
combination and conspiracy
of the Phila. A Reeding
Oo
The right to mine
of 1873
V. 82, p 393.
In the Govt, suit (1) dismissed
in restraint of trade against the
coal companies and
coal-carrying roads;
2488.
V. 110, p. 2358,
The company
has
26 1920 sustained most of the
against the company and cer¬
and ordered their dissolution. See
1 1920 sought a modification of the
The motion, however, was dismissed by the Court oa
railroad and coal subsidiaries,
The company on June
June 7 1! 20.
submitted
a
Dissolution Plan
1.
dissolution plan, summarized as follows:
of the
4
1 6
10.4
Controlled—
635.0
00.2
Central RR. of New Jersey
Reading A Columbia RR*
East
Penn.
25.6
RR.*
Phila. A Chester Valley RR.*— 24.0
AtlaBtle City RR. A branches. 170.2
Catasauqua A Fogelsvllle RR**31 7
Gettysburg A Harrlsburg Ry.*
41 0
Perklonsen RR.*
38 2
—
Newtewa A N. Y, RR,*.
Reading RR •
Pickering Valley
Stony Creek RR
Williams Valley RR
Port
2k 2
21
H
10
H
2
2
o
o
(•See this company )
Total controlled
Trackaee
876229 miles)
Coal Co. will pay to
assets at market value
Coal Co. to mature Jan.
the Reading Co. $10,000,000 in cash or
and $25,000,000 in 4% mortgage bonds
1 1997.
modified). The Reading Co. will agree with the Coal Company th at
the maturity of the Gen. Mtge. bonds, it will obtain the release
Company's property from the lien of the Gen. Mtge. and the
discharge of the Coal Company from liability on the Gen. Mtge. bonds.
4 (as
6.6
N. RR..
Mtge. 4% bonds,
Phila. & Reading
Iron Co.
3. Except as otherwise provided, general release of all claims and lia¬
bilities as between the Reading Co. and the Coal Co., including the claim of
approximately $70,000,000 carried on the books of the Reading Co. as aa
asset and on the books of the Coal Co. as a liability, will be exchanged.
Miles
Rupert A Bloomsburg
TTis-rvtm Alef^iM DD
Mlddlet'n & Hummeisvn RR.
12 1921).
will assume the $^6,524,000 Gen.
joint obligation of the Reading Co. and the
The
current
349.5)-705 4
0
are a
Coal &
2.
(as Modified May
The Reading Co.
which
RY.—
RR
Tamaqua H&zelton A
Dec. 31 1919 (second track,
Phi)
bonds marked s above
I.-S. C. Comm. in 1921 ap¬
Tot. leased (2d track
Phila
Reading Term Bldg,
Port Richmond
traffic and pro¬
for
and
docl
and other anthracite
dissolution decree.
New Brunswick, N. J., 13
Entire stock eivnsd—
North
City Treasury
1 1932
docks at the extensive terminal at
of steamers and barges In coastwise coal
V. 110, p. 1816.
3.1
Miles. East Trenton RR_
Reading
belt
RR
7 8
2 6
128-61 Philadelphia A Frankford RR*
Allentown Terminal RR
3 3
Lebanon Valley branch
61 03
Mount Carmel RR
5 8
Lebanon A Tremont branch— 51 46
Phila Wllm. & Bait. RR
10.0
Mahanoy A Shamokin branch. 90-58
Plymouth RR
8 i*
Sohuylklll A Susq. branch
53.27
3
eat Reading branch
1.80 Swedesford Bridge Co
Mt. Carbon A Pt.
A Feb
Oo shai 1 be respo nslble for all old
a line
charge of
tain of its
Carbon, Ac., and
4.4
A
&.overnment's U S. Supreme Court on April
821. The charges of illegal combination
branches
31.8
65 3
F
J To 1922
A
4 g
do
do
A Trust, Phila
organization and should be
under which the veal
companies pay the Independent operators for coal at the mines 05% of sell¬
ing price at tidewater. See V. 95, p 1084. 1052; V 90 p 280 , 554, 1090,
1557
The U 8 DUtrict Court on July 31 1915 held that the company and
Its subsidiaries, had not violated either the Sherman Law or the commodi¬
ties clause of Commerce Law.
The Government filed an appeal.
V. 106,
p. 1119; V. 101. p. 85. 929. 1465, 1807; V 96. p
1425. V. 97. p. 666; V. 90,
Lines owned in fee—
Allentown RR*—-
J
.
do
Prov Life
(2) held that the Temple Iron Oo. Is an Illegal
dissolved; and (3) also held Illegal the arrangement
Wlf
Little Schuylkill Nav. A RR.*.
Mine Hill A Schuy. Haven*--
3H
do
.
Ph i
Phila
"Reading Company"
company
RY.—Owns Rapid City,
PHILADELPHIA
Chester
1 1947
1 1937
May 1 1941
O Apr
S Mob
Q—F
5 g
The U. 8. Supreme
Ry. operate* In connection with
the great
anthracite ooal properties of the Philadelphia A Reading Coal A Iron Co. in
the Schuylkill region. Pennsylvania, a system of roads centering at Phila¬
delphia, extending to Haxieton and Wllllamsport on the north and westerly
to Harrlsburg. Shlppenaburg and Gettysburg. In Pennsylvania, and
mlngton, Del., on the south; also easterly in N. J to Atlantic City and Caps
May on Atlantic Ocean and to Port Reading on N. Y Harbor, viz.:
187 miles) —386.75
leased—(See each Co.).
Oolebrookdale RR..
12.8
East Pennsylvania RR*
35.8
A
$20,000,000 stock and $20,000,000 bonds
Ry. and the $8,000,000 stock of the Coal A Iron
ooal. given by charter. Is protected by State Const
Reading
Total (2dtraok.
A
4«
Reading Terminal,
also the
Wm. G. Bumsted; Treas., Chas. II.
Lines
5 g
4 K
J July 1 1942
O Oct 1 1933
holdings, real estate,
READING A COLUMBIA RR.—Owns Columbia to Sinking Springs, Ph .
40.24 m.; branches, 13.81 m.; operates Marietta June, to Chickles, 8.16 rn .
total operak«d. 00.21 miles.
Stock, $968,373 (par $50). of which $788,200
together with
$##».»QQ 1st consol
4s and $1,000.4)00 debenture# of
1917 and $180.#00
deb*, of 1962. are owned h* Heading Go
all
except $3,200 stock, $150,000 debentures and $653,000 first mtge. bonds
deposited under it* general mortgage.
The 1st Consols of 1912 are guaran¬
teed p. A 1. by the Reading Co.
V.93.D. 1789; V. 94. p. 632; V. 95, p. 833.
Year 1920, gross, $677,694; oper. def., $106,075; def. after charges,
&c.
$349,968 —(V. 94, p. 632.)
Phil, to Mt.
I1
do
Guarantee Trust Co,
do
do
20 1942
N May
A
A
do
21-Jan '27
ORGANIZATION.—The Philadelphia A Reading RR (chartered Aorii
and the P. A R. Coal A Iron Co. were sold In foreclosure Sept 2?
In V. 61. p. 1109
See V 64. p. 709
Road leased to Phila. A Reading Ry. for 999 year*
and taxe* and 4% on stock.—(V 74. p 1090 i.
—
J July
1896 and reorganized per plan
for lnt
COMPANY
J July'21-July *20 Philadelphia
A
4 1833)
READING BELT RR.—belt railroad 7.78m. in length around Reading
2d track. 6.38 m. V. 71. d. 761.
Stock, $760,000. all owned h$
A
A
A
n
Otrard Trust Co. PhD*
When drawn
capacity 000 tons per hour.
Pa.;
Phlia
1 1951
1 1957
do
do
do
/J P Morgan A Co, b
\
and Phila
berths, with elevators
graln-drler and accommodations
sever*1
trans-Atlantic
steamship lines,
new ore-unloader
concrete
$160,000 capital stock on account of additions, &c.
U. Comm. in 1918).
DIYS. (%)— '•«. '09, '10. *11 to July '15. '16.
1917 to Jan 1921.
(Cal. years).
1 5W
8 8% (J. & J.)
9
10 yrly(2>4 % Q-J)
Dec. 1916, 8% extra; 1917, Dec., 12% extra; 1918, Sept. 3. 15% extra.
Year ending Dec. 31 1920, gross, $575,820; net, op. inc., def.,
$20,900
Fed. comp., $144,753; other inc., $12,103; int. and rentals, $75,842; divs.,
READING
J
900.000
proved the plan to issue
(approved by N. J. P.
The
A Feb
1997
From the company's
Mystic, 35 miles.
Successor in 1909 of Missouri River A
foreclosed.
V. 88, p. 1254. Government compensation,
$13,500.
Stock authorized, common, $450,000, all outstanding; preferred
5% cumulative, $250,000, of which $233,000 preferred outstanding; par,
$100.
Stock in 5-year voting trust.
Of the 1st 30-year 6s (total $750,000
authorized), redeemable at 105 on and after Nov. 1 1919. $350,000 have
been Issued; remainder reserved for extensions and improvements.
One
coupon was paid In 1915, one in 1916 and another paid May 1 1917, and
also Nov. 1 1917.
Pres., Geo. E. Macomber, Augusta, Me.; D. H. Crary,
V.-P. & Gen. Mgr.; Sec., Charles E. Hoyt, South Norwalk, Conn.
Reading Company.
O Apr
A
1
vides
Dak., to
from July 1 1902
A
Q—M
SB* J
2,696.000
9,328.000
5.707.252
8,500.000
193.500
It operates
Northwestern
RARITAN RIVER RR.-South Amboy to
miles; branches, 10 miles; total, 23 miles.
The
July'14 19211%
J Jan
A
do
1%
'21
June 9
1919
par;
Of the ooniols. $350,000 are
to
and $450,000 for future extensions and Improvements.
The
Line guarantees all of the bonds
V 95. p. 892.: V. 83. p.
Year ending Dec. 31 1918 (lncl. Marion A Southern RR.), gross,
158; net, after taxes, $14,742; interest, Ac., $6,510;
W. J. Harahan, Norfolk, Va.: Sec. A Treas., Robert L. Nutt,
St.. New York.—(V. 95. p. 892.)
BLACK HILLS & WESTERN
A
« F
4 g
Co an d Readln g Coal A Iro
retire the prior liens
Seaboard Ah
97.
$90,bal., $9,232. Prss.,
24 Broad
reserved
334
1,000
1892
J
4 g
4 g
1962
May 12 '21 2% Reading Terminal, Phila
Q—F
Q— vi
Q-J
4
500,000
534,000
500 Ac
1,000
South¬
Seaboard
t63,000; bal.,112, p. $2,886. Pres.,
def., 746, 1283.)
isson.—(V.
See text
do
Jan 1
Q—J
41
6,400,000
RALEIOH A CHARLESTON RR.—Owns Lumberton, N. O., to Ma¬
43 m.
V. 81, p. 1241, 1437. Owns stock of Marlon A
ern RR., 19 miles.
Stock outstanding $574,500. all owned by
Air Line Ry.
V. 98. p. 892.
Of the bonds (Baltimore Trust Co., Bait., Md.. trustee), $350,000
are 1st mtge. prler Ucd 4s and $1,000,000 consols, the first ten coupons on
the latter to be paid In cash up to 4% as earned, the balance in 10-year 6%
Interest-bearing scrip, with Interest payable semi-annually and subject to
RAPID CITY
MAN May 1 1939
g
1.295,000
3.300,000
1,000
1892
1892
1808
rion. S. O.,
So.
do
42.000.000
owned $3,486,420 com. and $1,936,900
pref., 1902 to Apr. 1 1914. both Incl., 4% yrly.
V. 99. p. 1131. On com.. 3H%. 1905; 1900
oall at
1 1956
70.000.00U 8 In 1920
4
28.000,000
Dec. 31 1919
pref. stock.
Dividends on
(paid A. A O.); none since.
2M%.—(V 99. p. 1131.)
A
See text
eral M orteage ol
■Terminal mortgage gold (see V 64. p 85)—kvo*Ar
•Philadelphia City Subway Loan gu $3,000,000- kv
■Philadelphia & Reading Coal & Iron—
zCol s f gold loan (RR) guar extended In 1902 -kv
If ate.—General mortgage
A
V
1,000Ao 94.864.000
1.000 122,217,000
Payable
Baltimore, Tr Co. Md
1 1956
F
F
50
—
A Feb
A Feb
4 g
text
840,000 10 in 1920
50
Second preferred stock 4% non-cumulatlye
Qen M $135,000,000 g s f not subj to oalLCe.xo*Ar
Jersey Central coll trust mtge g red 105_PeP.xc*Ar
1
O
50
-
Dividends are
and Maturity
5
$350,000
200.000 See
1912
-----0
-
-
-
-
Where Interest and
Places
Date
Road
Raleigh & Cbarl—1st prior lien bds g red text guar .xo*
Consol entire bond* *1.000.000 tr guar red text
xo*
Debentures,--
Dividend
Last
Miles
RAILROAD COMPANIES
[For abbreviations,
[VOL. 112.
BONDS
RAILWAY STOCKS AND
114
1,126.0
34.46
2,219.01
at or before
of the Coal
modified). If the Court so orders, the Reading Co. will, subject to
of the Gen. Mtge., sell, assign and transfer all its right,, title and
and to the stock of the Coal Company, including the present
right to vote and receive dividends thereon, to a new corporation to be
formed with appropriate powers, and will agree to save the new corporation
and said stock harmless from the lien of the Gen. Mtge.. and will agree to
obtain at or before the maturity of the Gen. Mtge. the reiease of the stock
5 (as
the lien
interest in
of the Coal Company
transfer and delivery
from the lien of the Gen. Mtge. and the
of said stock to the new corporation—all
assignment,
inconsidera-
payment by the new corporation to tho Reading Co. of the sum
of $5,600,000, and its agreement to issue its shares to the
the Reading Co. as hereinafter provided.
The new corporation will issue 1,400.000 shares of stock without par value.
Such no par value stock will bo sold by the new corporation to the
tion of the
stockholders of
stock¬
and share alike, for
Provision will be made
for the disposition by the Reading Co. of any rights to subscribe which may
not be availed of by the Reading stockholders within such period as may
be fixed by the Court, to the end that the new corporation shall receive
the full purchase price of $5,600,000.
It is proposed to carry out this sale
in accordance with the precedent established by the Union Pacific Southern
Pacific case, by issuing to Reading stockholders, with or without the inter¬
vention of a trustee, as may be provided for in the final decree of the Court,
assignable certificates of interest in the stock of the new corporation ex¬
changeable for such stock only when accompanied by an affidavit that the
of the Reading Co., Pref. and Com., share
$5,600,000, or $2 for each share of Reading stock.
holders
of any stock of the Reading Co.
outstanding 1,400,000 shares of Reading Co. Common, 560,000
Pref. and 840,000 shares of 2d Pref.; total, 2.800,000 shares;
par $50.
The "$2 for each share of Reading" stock is equivalent therefore
to saying one share of the 1,400,000 shares of Coal Co. stock at $4 per share,
with respect to each two shares of Reading Co. stock held.—Ed.
Any further steps deemed necessary by the Court will be taken to the end
that an independent board and management will be maintained for the
holder is not the owner
[There are
shares of 1st
this
Coal Co., so that the independence of
company
necessarily gradual process of the distribution
need not await the
of the stock of the Coal Co.
Reading Co.
6. The Reading Co. will merge the Philadelphia & Reading Railway Co.
under the authority contained in the present charter of the Reading Co.,
and will subject the railway property to the direct lien of the Gen. Mtge.
The name of the Reading Co., after merger, will not be changed.
The Reading Co. will accept the Pennsylvania Constitution of 1874 and
it will proceed under the Act of 1856 to surrender those of its powers which
inappropriate for a railroad corporation of Pennsylvania.
Thus the
Reading Co. will be in all respects subject to the regulations of State and
Federal authorities as a common carrier and its relations as a specially
chartered holding company to the railway company will be terminated.
7. Paragraph 7 of the original plan, which proposed the executing of a
Ref. & Impt; Mtge. by the Reading Co., was eliminated in the modified
among persons
are
new
plan.
not holders
of stock in the
Mat, 1921.]
RAILWAY
RAILROAD
[For abbreviations,
COMPANIES
&c.,
see
notes
on
STOCKS AND
Miles
page
Date
Par
Amount
Rate
Bonds
Value
Outstanding
%
Payable
192
79
8
$100 $10,000,000
1.000
2,000,000
6"g
text
100
1,316,900 See
100
$.600,100 See text
1921
Stook guar 7% except $19,300 guar 6%
Com stock non-voting 6 % (see text)
$500,000
mortgage
General
115
When
Road
6]
Rensselaer & Saratoga—Stock 8% guar D ft H fend)
First mortgage,
Interest guar D. A H
USMxxx
Richmond Fredericksburg & Potom—Com stook
Dividend obligations (same dlv as common stook)..
Consolidated
BONDS
mortgage $4,000,000
x
Washington Southern Ry 1st Mtge bonds (assumed)
Rich & Meek—First M $315,000 gold (V 09, p 391)..c
Richmond k. Petersburg—See Atlantic Coast Line RR
Rich-Wash Co—Coll trust gold guar red 105.N,xo*&r
Rio Grande Junction—Stook
First mortgage gold guaranteed
Cejco*
"82
4,000,000
1,000
1890
500.000
4H
2.680 000
3H
4 g
1903
1903
"§1
Various
1898
......
""T.666
4.000,000
ft
A
O Apr
O Apr
ft
ft
J
ft
g A
A
ft
J
A
._
"62
1889
315.000
4 g
M
10,000,000
4 g
J
ft
2,000,000
2,000,000
1.000
Where Interest ane
Dividends
4% Del
&
Payable
are
Hudson
Co,
do
Y
N
do
Riohmond, Va
do
do
Richmond, Va
11940
N
*
Phila
Richmond
If943
D Junel 1943
N Nov 1 1948
ft
&o
100
*03-'12 1.000
Places
D
ft
ft
M
J
J
6
Dividena
and Maturity
J Jan 3 1921
N May 1 1941
D See text
D See text
N See text
J
texq. M
500.400 See
100
100
gold—Ce.xo*ftr
Last
Riohmond
or
,
Sav
Dep A Tr Co, Bait
I
Morgan
P
A
Co
.
■
D June 1 1943
See text
6~g" j" ft"
New York Trust Co, N }
/Maltland, Cop pell ft Oo
D Deo
\
11939
52 William St. N Y
1\
b
i
■
%
i
8. a he Court will be asked to defer the actual sale of the stock held by the
Beading Company in the Central BR. of New Jersey pending the grouping
of railroads by the Inter-State Commerce Commission under the
Transpor¬
tation Act, but subject to the further order of the Court.
Compare V. 112,
p.
745.
The modified plan
delphia
on
was
approved by the U. S. District Court at Phila¬
May 23 1921.
FEDERAL
U.
S.
RR.
affiliated
COMPENSATION.—The
Administration
The following committees have been formed:
Common Stock.—Seward Prosser, Pres. of the Bankers Trust
Co., Chair¬
man; Mortimer N. Buckner, Pres. of New York Trust
Co., and John H.
Mason, Pres. of Commercial Trust Co. of Philadelphia.
the
—Jan.
EARNINGS—
(P. & R. Ry.)
compensation
payable by
Philadelphia A
1-Mar.
Reading Ry.
(contract signed).
31
Jan.
1 -Dec.
the
and
17
31
1921.
1920.
1920.
1919.
$21,122,999 $20,557,025 $94,321,557 $72,871,823
889,127
198,145
4,121.758
6,602,723
Gross
Net after taxes
Protective Committee*.
to
companies aggregates $17,094,334
ANNUAL REPORT.—Report for year 1919 in V. 110, p. 1845.
Cal. Year
Cal. Year
18 Mos. to
1919.
1918.
Dec 31 '17
Railway company—Receipts
$72,871,823 $80,769,563 $97,792,614
Expense (including railways, Ac.)— 68,867,290
70,419,543
69,009,392
Preferred Stock.—Adrian Iselin of A. Iselin & Co.; Robert B. Dodson,
trustee J. A. Garland Estate; Edwin G. Merrill, Pres. New York Life Insur¬
& Trust Co., N. Y.; William A. Law, Pres. First Nat. Bank,
ance
with
Phila.,
Cadwalader, Wickersham & Taft, counsel.
The common stockholders' committee has filed a petition for modifica¬
tion of the plan.
A number of petitions to intervene have been filed.
Compare V. 112, p. 848. 933, 1025, 1144, 1283, 1400, 1519, 1618, 2084.
Property of Reading Company, $322,159,330 Dec. 31 1919.
Railway equipment leased to Railway Co
$43,890,419
Leased equip., $20,089,814; uncompleted equip., $171,091
R. Ry. stock, $42,481,700 (auth. Issue increaaed to $45,-
16,721,42$
4.331,207
20.260.90$
P. A
000,000 in April 1911) and bonds, $20,000,000, par
Philadelphia A Reading Coal A Iron stock at par
Mlscell. securities, lncl. $14,504,000 stock Cent. RR. of N. J..
Mortgages and ground rents at par
Int. in Phila. A Reading Coal A Iron above securities owned._
Claims against other companies, Ac
Cash and current assets
02,481,700
8,009,000
88.912,6&<
251,611
69,919.770
9,740,777
.
7.390.258
.
Property of P. A R. Coal A Iron Co., $104,581,088 Dec. 31 1919.
Coal lands owned, with improvements, Ac
$62,390,497
Timber lands owned, $810,665; New York and Eastern depots,
$892,834; Western depots,
$2 012,059;
ooai on hand and
other current assets, Ac.,
$22,436,906-
26,182,524
Stocks and bonds of (and loans to) companies controlled, nearly
all of which are collateral for loan* created
prior to 189$
Liberty Loan bonds ($6,482,546). Ac
SINKING
stock,
an
-
9,919,510
6,981,391
FUND.—Whenever, in any year, a dividend Is paid on the
must be paid simultaneously to the trustee equal te 5
by the Ooal ft Iron Oo. during the preceding
amount
cents per ton on all ooal mined
year. If the aggregate of dividends so declared exceeds that sum: etherwtse
such lesser sum as shall equal the dividends so deoiared.
Under this pre
vision general mortgage 4s (not callable) were purchased and oancelea as
follows: 1900 to 1910, $4,860,695; 1911, *468.000
1912. *517.000
191$,
$516,000; 1914, $537,000: 1915. $480,000; 1916. $449,000; 1916-17, $506,000
1917-18, $637,000; 1918-19, $622,000; 1919-20, $574,000.
STOCK.—Reading Oo. hat the right to convert the 2d peat, stock Into
one-half first prof, and one-half common stock.
8ea V. 64. p. 709.
DIV8.—
'01. "02, *03, '04. 05.
'06- 09. '10-12. '13 t«2dquar'21.
First
pref— % ( 4
pref.%] 0
3
0
4
4
154 4
4
4
4 yrly, 4 yrly.
4 yrly. 4 yrly.
4 yrly.
4 yrly.
0
0
0
354
4 yrly.
8 yrly.
Second
Common ...%l
0
6 yrly.
(Q—M
(Q—J.
(Q—p
BONDS.—The General Mortgage 4s (abstract. V 64, p. $11) are scoured
by a 2d mtge. and pledge of all properties and securities embraced In tht
reorganization, and also all other property aoqulred thereafter by use of th*
new bonds.
The mtge. is also subject only to the bonds for which reserve
Men Is made, based upon properties or securities of all the lines of railroas
owned, including the Phila. ft Reading Ry. Co. proper, 352 m.; varfou*
leasehold lines. 642 m.;
all the property of the Goal A Iron Co.. or th«
securities
thereof; a large amount of rolling stock. Ac.
Also a first lies
majority of the stock of various companies owning 453 miles of ragroad, and also on various bonds—list In V. 64. p. 613, 709.
Of the $136,000,000 4s of 1897, there were on Dec. 31 1919 $28,918,000 reserved to takr
up old bonds, $9,620,000 had been canceled by sinking fund, $2,831,609
were in the treasury and $93,717,000 held
by public.
See "Sinking Fund"
above.
V. 104, p. 765; V. 77. p. 2099; V. 84. p. 221; V. 91,
p. 1630
Y. 92, p. 323; V. 108, p. 2324.
upon a
Improvement mortgage 6% bonds of 1873 due Oct. 1 1897 were extender
at 4% for 50 years from April 1 1897, payable In U. S. gold, and
guaranteed
principal and Interest by the Reading Co.
V. 64, p. 470; V 65, p. 516
The consol 5s of 1882 for $5,766,500 were also extended at 4% till March 1
1037, the Reading Oo. and the Ooal A Iron Oo. becoming responsible.
9er
V. 65, p. 870, for contract
V 05, p. 152, 870
Terminal mortgage bonds, see V 64, p. 85, and V. 60,
p. 732.
For ten-near sinking fund loan see Jan
1805 "Supp."
The bonds were ii
1002 extended to Feb. 1 1932 at 4%, being guar, by the Reading Co.
and sinking fund reduced to $30,000
yearly.
V. 72. p. 242: V. 74, p. 20$,
The Philadelphia Subteay Loan of 1894-98 Is payable after 10
years from
Bate In 20 annual installments, to secure which $500,000, bearing Interest
has been deposited, and $100,000 yearly Is
being set aside in
monthly In
V 71. p. 758
Stallments.
See V. 58, p. 1110; V. 62. p. 950; V 63. p 881;
Railway Co.'s Phila. Subway 354s of 1907 are issuable from time to time uy
$o a total of $3,100,000 to reimburse the company for installments of onehalf of ths city loan and Interest as paid; entire $2,776,000 Issued was in
P. A R. Ry. treasury Dec. 31 1919.
V. 81. p. 1437; V. 85. p. 731.
The J or sep
•soured
Central collateral trust bonds ($23,000,000 present issue) are
by deposit of $14,504,000 Cent. RR. of N J. (oost $23,200,000) of
the $27,43$,800 stock outstanding. $1,495,000 Perklomen stock
aqd $440,-
000 Port Reading RR. stock, the remainder of the $45,000,000 auth.
bei^
reserved to acqulro tho minority stock of the Central Co.
They are oallahls
any Int day at 105 ft int
See abstract. V 72. p. 487: V 73. p 847.
Equipment trust Series F, dated Jan. 1 1910, covers equipment described
Series G covers equipment mentioned In v. 106, p. 178$
$7,200,000 sold In Jan. 1919.
V. 108, p. 684, 2324.
on
Id V. 107, p. 697.
—
Total net income..
Ooal A Iron
$16,351,892 $16,570,754 $30,080,269
$60,103,225 $56,386,939 $73,031,165
57,001,840
51,746,777
64,454,059
-
Co.—Receipts
Expenses.-
Real estate not appurtenant to railroad
Sea tuga and barges leased to Railway Co
$4,004,533 $10,350,020 $28,783,222
16,009,826
15,868,331
342,066
702,423
1,297,047
Federal compensation
Other income. Ac
Net earnings
Reading Co.—Net income—
$3,103,385
15,648.729
— -
$4,040,162
16.792,951
$8,577,006
13,588,922
Net earnings all companies
$$5,104,003 $38 ,003,877 $52,246,197
Fixed charges, taxes A sinking fund..$10,076,126 $14 ,538,806 $29,168,441
Divs. on first pref. (4% p, a.)
1,120.000
1 ,120,000
1,680,000
Dlvs. on second pref. (4% P- a.)_1,680,000
1 ,680,000
2,520,000
Dlvs.
on common
Surplus for
5,600,000
(8% p. a.)
year
(all companies)
Coat Production in 1919—
—
Lands Owned. Controlled.
Total 1919 cal. year.
Total 1918 cai. year
OF
Other.
291,869
117,751
1 646,007
Total.,
10,067.588
960,815
8,972,776
10,031,454
409,621
664,224
1,646,007
2,024,303
11,028,400
12,719,982
(tons..
OFFICERS
8.400.000
843,064
P. A R. Ooal A Iron Oo. (tons)8,129,711
Tenants
5 ,600,000
.$16,627,880 $15 .065,071 $10,477,756
——
READING
CO.—Pres., Agnew T. Dice; V.-Pres.t
V. B. Bierck; V.-P. A Treas., H. E. Paisley; Sec., Jay V. Hare.
Directors.—E. T. Stotesbury, Joseph E. Widener, A. H. Smith, Hugh L.
Bond Jr., Agnew T. Dice, Henry P. McKean. Daniel Willard, Albert H.
Harris, Isaac Hiester.
Office, Reading Terminal, Phila.—(V. 112, p. 63,
653, 745, 850. 933, 1025, 1144, 1283, 1400, 1519, 1618, 1978, 2084.)
RENSSELAER A SARATOGA RR.—(See Map Delaware A Budson.)Road owned—
Miles.
Trey to Lake Champlain—
Fort
Edward to
Leased—
Miles
72 Albany to Waterford Junction...12
Schenectady to Saratoga
...22
63 Vermont Line to Castleton, Vt
7
Caldwell———15
Sagle Bridge to Rutland, Vt
LEASE—Leased In perpetuity May
I 1871 to The Delaware ft Hudson,
$800,000 of stock; rental, 8% on the stock and interest on bonds.
V. Ill, p. 1184.
Guaranty on stock.
V. 56, p. 773.
The $2,000,000 7% bonds due May 1 1921 were refunded
by a like amount of 6% bonds due May 11941.
V. 112, p. 1867.—(V. 112,
p. 1979.)
vhich
owns
Dividends being paid less income tax,
RICHMOND FREDERICKSBURG & POTOMAC RR.—Owns from
Richmond, Va., to South End Potomac River Bridge, 77.52 miles, doubletracked; James River branch, 3.56 m.; total, 81.09 m.
The dividend obliga¬
tions
no voting power.
The R. F. A P. RR. guaranteed stock is
New station in Richmond.
V. 107, p. 270.
Richmond-Washington Co. (see below) in 1901 took over $947,200
of the $1,316,900 common stock.
V. 74, p. 149.
Connection RR. franchise
juit, V. 107, p. 2188.
The Washington Southern Ry. was merged in Feb.
1920.
V. 110, p. 168, 872. 1416.
Federal Compensation.—$1,137,374 yearly during Federal control.
The
company refused the six months' extension of the Govt, guaranty.
0IV. on stock and dlvi-i'98
'99. '00-'04
'05-'16.
'17.
1918.
1919.'20.
dend obligations ,%) 7
7
8 yrly. 9 yrly.
14
9
9
9
•Also In Jan. 1907 25% indlvldend obligations, and In Feb., 1916
60% in
same on both stocks and dividend obligations
v. 102 p. 610; V 83 .p. 1626
STOCK.—The 6% non-voting common stock was issued in exchange for
a like amount of common stock of
Washington Southern Ry.
carry
lecured by mortgage.
The
BONDS.—Of the gen
3 Hi of 1903 due April 1943 ($4,000,000 author¬
ized), $3,500,000 were Issuable for double-tracking and Improvements (of
which $2,680,000, outstanding). Is owned Dy Richmond-Washington Co. and
pledged under its mtge. (V. 81, p. 1178). the remaining $500,000 being re¬
served
to
retire the consol
4HS at maturity.
See V
77
p
2388. 2391.
Equipment trusts issued to Director-General for rolling stock allocated
See article on page 3.
te this company.
Jan.
EARNINGS—
Gross
Net after taxes
1-Mar.
1921.
$2,700,866
354,832
31
1920.
Jan.
1920.
1 -Dec.
31
1919.
$2,968,557 $11,019,883 $12,276,017
942,048
2,174,290
4,815,982
REPORT.—Year ending Dec. 31 1920, net oper. rev., $2,062,029; oper.
income, $1,652,120; other income, $429,795; deductions, $1,047,174; net
income, $1,034,740 Pres.. Eppa Hunton Jr.; V.-P. A Sec., Norman Call;
Treas., D. K. Kellogg, all of Richmond, Va.—(V. Ill, p. 693, 793, 1084,
1279, 1473.)
RICHMOND-WASHINGTON COMPANY.—Controls a "union'' line,
Washington, D. C.. to Richmond, Va ,115 miles, In the joint interest of the
the Pennsylvania RR., Baltimore ft Ohio RR., Atlan¬
tic Coast Line Co., Southern Ry., Seaboard A. L. Ry. and Ches. ft O. Ry
each of which owns 1-6 of the $2,070,000 capital stock.
Dlvs. in 1902, 3%'
1903 to 1905, lncl., 4% yearly; 1906 and 1907, none; 1908 to 1915, 4%;
1916, 5%: 1917-18-20, 6% yearly.
Incorporated on Sept. 5 1901 and aoqulred $947,200 of the voting capital
stock of the Richmond Fredericksburg ft Potomac RR. and the entire stock
ef Washington Southern Ry.. Long Bridge to Quantico, 36 milee.
The collateral trust 4s of 1903 ($11,000,000 ante, issue; are guaranteed,
jointly and severally, prin. and Int., by the six roads named above. Of the
following roads, viz.:
,
I
RAILWAY STOCKS AND BONDS
116
Minneapolis
LEGEND
1
LINES
[VOL. 112.
OWNED
% V
St. Louis-San Francisco Railway Co. (North of Red River)........ST. L.
St. Louis, San Francisco & Texas Railway
-
s. F.
Co,^^aL^.«.8t.l.s»f. a t.'
Paris & Great Northern Railroad
a g,
Ft. Worth & Rio Grande Railway Co...--
n.
\VJ I
\
Albert' Lea
Ft.w. a R.g,
-
The Brownwood, North & South Railroad Co*......
iIn I
to
)
g'(
g
J$/<
Fond da Lac
s. b. r. r*
Quanafi, Acme & Pacific Railway Co»,«»
c o\n s
s
La Crosses
1
b. n. a s.
Birmingham Belt Railroad Co
P
/rf bree
/
Lake
5/ WinnebagcM
Winona
Q. A. 4 p*
Milwaukee
MADiSON
LINES
LEASED—MEMPHIS SYSTEM
The Kansas City, Ft. Scott & Memphis Railway
k.c.ft.s.a m.
Co,....-—.
Kansas City & Memphis Railway & Bridge Co
—..—
Tyronza Central Railroad Co.
,T
Bonnerville, & Southwestern Railroad Co.
Kansas City, Memphis
k.c.a n.ry.ab.
—•
& Birmingham Railroad Co.
c. r, r.
8. a s. w.
k. c, m. a b.
—
Cedar Rapids
Trackage Rights over Foreign Lines..—.........
DES MOINES
Joint Passenger Terminals.^,
——®
.
Davenport
Rock island
La
\
V
Lfliet;
Sall^jC-^K
Ottawa
f
Council Bluffs
Grand
Ottumwa
Island,
Burlington^
issua Park
Peoria
LINCOLN
Hastings
Bloomington
Beatrice
McCoob
'Keokuk
Nelson
oFairbury
Trenton
•ecatu
Quincy
St. Joseph
Atchison
Hannibal
Jacksonville
Manhattan
Salina
Princeton
rsEvansvilie
Hutchinson,0
«...
Hpiot
Win HqMA
.Arkaiisns
OftjJT
PaducaiYY
oMayMd
"0"'\
& MAlpr*!
r/eTflsrw]
VCLARlt*W
?**>>//§
Cemadiin
tPe/j 6HANAOCK
Canadian—
ssp-!
mtfi T ES N
Jackson)
o
s°dcM
AS£BDEEN/JCT,
| AWor
ABERDEEN.
Wichita Falls
*
>»drDENIS0N
oSeymour
Shrev<
Monroe
Sweetwater
Meridian
JACKSON
Corsicana
"Waco
o
Hattiesbli;
Alexandria
Q.C.A 8.F.RV.
WHITELAND^£1$» %
FT.w.a r.G,
Newton
aton
rouge
Menard
AUSTIN
Lake Pontchai twin'
Beaumont
[ouato;
San Antonio
Laredo
MAP
Brownsville
OF THE
ST. LOUIS- SAN FRANCISCO
RAILWAY CO.
MAY, 1921.]
RAILWAY STOCKS AND BONDS
RAILROAD
COMPANIES
[For abbreviations, &c.,
see
Miles
notes on page 61
Date
175
Par
Amount
Rate
When
Last
Bonds
Road
Rio Grande Southern—First M g 12.277,000 are gu_x
Rio Grande Western—See Denver A Rio Grande
Value
Outstanding
%
Payable
and
1890
Roberval-Saguenay Ry—
Consolidated mortgage sinking fund
First oonsol mortgage for $3,500,000 gold.Us.zo* Ar
Ogd A L Ch 1st M $4,400,000 gold assumed.Ce.xo*
$1,350,000--OB.xc*
Bennington a Rutland—1st ref M g ass
N.xo* Ar
Chatham A Leb Val 1st M $500,000 g p A 1 guar.G
Equip trusts due $34,000 yrly (V 94, p 1250).G.sc*
do
do
due $14,000 yearly
s
Ogd Ter Co M gint gu s f $10,000 yly
Go*
Rutland Toluca & Nor—1st M g gu red Oct 15-NC.xo*
Rutland & Whitehall RR—Stock (no bonds)
8t Clair Madison & St Louis Belt—See Missouri A Illl
Sag Tuscola & Huron—See Pere Marquette RR.
St John & Quebec Ry—1st M deb stk guar see text
Prov Govt 5% bds $10,000 per mile
St Johnsb & Lake Champ—1st M ($1,328,000 gu) _xc*
St John's River Terminal—First mortgage
N
St. Joseph & Grand 1st Ry—Common stock—....
1st pref stock 5% non-cumulative $5,500,000—..
2d pref stock 4% non-cumulative
First mtge $5,000,000 gold
Ce.xc*Ar
Further $25,000 owned by Rutland RR. Co.
It Lawr & Adirondack Ry—1st M $800,000 g —NJtc*
Seoond mortgage $400,000 g
—
Nx
It Louis & Cairo—See Mobile A Ohio
It Louis Bridge—See Terminal Railroad Association
3H
%
4H
500 As
1903
500
1907-12. 1913-14.
5 yrly.
Nil
1898
1899
1897
1901
1912
68
1913
1911
1910
27
6.71
ridge"
As
1914
1894
1902
Tdoi
1896
1896
1.000
1.000
1916-17.
1918
5% yrly. 61.6%
J
A
July 1 1948
July 1 1949
W
M
I'
do
do
do
do
Old Colony Trust Co,Bos
Grand Cent TermT, N Y
A
Nov 1 1927
J
A
M
A
Guaranty Trust Co, N Y
A
A
July 1 1951
To May 1927
To Apr 1928
J
A
1922 to 1925
Grand Cent TermT, N Y
A
A
Oct
1 1930
May 15 '21
Q—F
do
do
Northern Tr Co, Chicago
Nat Bank, Troy
1H United
Bank of Montreal,
D 1962
A
do
do
Lond
Company's office, Boston
New York
1902. 6%
41
J
A
Jan" l" 1947
5 g
6 g
J
A
A
A
J July 1 1996
O Oct 1 1996
U
S*Mtge
A Tr
Co."n ¥
New York Trust Os. N
Eaultable Trust Co. n
Y
y
Federal Compensation.—$1,023,883
yearly during Federal control.
exchanged
pref.—10 of common for 1 of preferred.
V. 72, p. 439.
On Dec. 31
1919 the Rutland RR. owned $102,200 and the N. Y. Central RR. and the
N. Y. N. H. A H.RR. Co. each owned $2,352,050 of the company's $9,057,100 pref. Btock.
•
Diva. I '98. *99. *00. *01. '02. *03. *04-'05. *06-*08. '09-'16. 1917.
1918.
cm pf.j
2
2
3
4
3
1
0
1H yrly
0
Apr. 2
Jan., 2
Accumulated dividends on preferred aggregated about 258% Jan. 1921.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Govt, loan, V. Ill, p. 1950.
STOCK.—In Dec. 1919 all but $189,400 com. stock had been
for
_
Jan. 1—Mar. 31
EARNINGS.—
1920.
1921.
Gross.
$1,400,429
defl03,643
Net after taxes
$1,156,601
defl67,276
Jan. 1—Dec. 31
1920.
l919-.„„
$5,966,142
def319,814
$4,838,533
131,568
REPORT.—Report for cal. year 1919: Standard return, $1,023,883;
other income, $154,644; gross income, $1,178,527; Interest, $487,619; rent¬
V. Ill, p. 2224.
Vanderbilt, William Rockefeller, E. J. Pearson,
Oarstensen, Alfred H. Smith, Albert H. Harris, A. T. Hadley,
T. De Witt Ouyler, Percival W. Clement. Edmund R. Morse, W. Seward
Directors.—Harold S.
$145,184
ROCHESTER & GENESSEE VALLEY RR.—Avon to Rochester. N. Y..
m.
Leased 1871 in perpet. to Erie Ry.
Rental, $34,012, paid by Erie
See V. 108. p. 580.
ROCK ISLAND LINES.—This is the popular name for the important
Chicago Rock Island & Pacific system, whose earnings, securities, &c.,
'
ROCK ISLAND-FRISCO TERMINAL RY.—Furnishes part of St. Louii
terminals of the Rock Island and St. Louis-San Francisco systems, includ¬
ing new freight station and yards in St. Louis, Mo., the Chicago R. I. A
Pao., St. Louis-San Fran, and Ohio. A E. 111. contributing proportionate
amounts equal to operating expenses, taxes and fixed charges.
Incorpo¬
April 9 1906; V. 84, p. 929.
Auth. stock, $5,000,000; outstanding,
$500,000, $300,000 being owned Dec. 31 1920 by Ch. R. I. A Pacific Ry.
and $200,000 by St. Louis San Fran. Ry. Co.
The bonds (see above)
jointly guaranteed by endorsement by Chic. R. I. A Pac. Ry. and old
St. Louis A San Francisco RR. Co., Merc. Trust Co. of St. Louis is trustee.
V. 84, p. 571, 749.
Pres., J. E. Gorman, Chicago.—(V. 84, p. 749.)
rated
are
ROCKINGHAM RR.—See page 140.
ROME & CLINTON RR.—Owns road from Rome to Clinton, N. Y., 13
Organized in 1869.
Leased in perpetuity in 1891 to Delaware A
(now D. A H.) Co. and oper. by N. Y. Ontario A Western.
except income tax.
Divs. at 6H% p. a.
miles.
John
Webb, Howard Elliott, E.G. Buckland (Pres.), George T. Jarvis.
lents reduced thereafter on account
RUTLAND TOLUCA
1917, 6K%; Jan. 1918 to Jan. 1919, 3% s.-a.; July 1
2%%', Jan. 1920,2?*%; July 1920,3%; Jan. 1921, 2%%.—(V. 106, p. 397.)
ROSCOE SNYDER & PACIFIC RY.—Owns Roscoe, Tex., to Flu¬
30 miles.
Stock, $150,000.
Dividends,for year 1914-15, 25%;
1915-16, 15%; 1917, 15%; 1920, 33 1-3% in stock.
1st ref. gold 5s ($5,000,000), limited to $20,000 per mile, $158,000 were reserved to retire $157,511
prior liens due July 1917 held by Texas A Pacific Ry.
Of these $57,511
•were paid off at maturity and the remaining $100,000 extended for 2, 3 and
4 years, respectively, due one-third each year.
Bonds are subject to call
on any interest day in blocks of $1,000,000.
V. 95, p. 1685.
For year end¬
ing Dec. 31 1920, gross, $311,731; net, $83,557; int., rentals, Ac., $45,271;
bal., sur., $38,286.
1
V.
93,j>. 408.
1101
RUTLAND RR.—[See Maps N. Y. C.A H. R. RR.)—415 miles, viz.:
Miles.
Leased, Ac.—
Miles.
Lines to Tlconderoga, Ao
18
Bellow's Falls, Vt„ to Ogdensburg, N. Y
283 Also trackage (for pass, trains only)
to Montreal (V. 106. p. 1789) „50
Rutland, Vt., to Chatham, N. Y.114
Owns entire $100,000 stock and $100,000 4% bondo of Rutland A Noyan
RR., entire $1,000,000 stock of Rutland Transit Co., entire $100,000 stock
Ogdensburg Term. Co.. entire $500,000 Chatham A Lebanon Valley RR.
bonds. $495,900 (total $500,000) stock of Addison RR. Co. and
(total $150,000) of Champlain Construction Co. V. 75,
1029; V. 73, p. 437; V. 72, p. 88, 822.
In May 1915 the I.-S. Commerce
Commission ordered the compamy to sell the Rutland Transit Co. by Dec. 1
1915; six of the Transit Co. ships were sold in Aug. 1915- V. 101. p. 695:
V. 100, p. 1753; V. 104, p. 2637.
Valuation, V. 112, p. 62.
RR.—Rutland
NORTHERN
to McNabh, I1L.
Pres.,W. G. Bierd; Sec. A Treas., H. E.R.Wood.
Office.
Transportation Building, Chicago.—(V. 03. p. 408.)
RUTLAND St WHITEHALL RR.—N. Y. State Line to Castleton, Vt.|
1.75 m.
Leased 1870 In perpetuity to Rensselaer A Saratoga RR. (rental
$15.342—6% on stock, less U. 8. Income tax); operated by Del. A Hudson,
ST. JOHN St QUEBEC RY.—Completed and operated by tne uanadlan
National Railways.
Fredericton northwest to Centreville, 88 miles, and
Fredericton southeast to Gagetown; also since Oct. 1 1919 from Centreville
to Weetfield Beach thence over the Can. Pacific Ry. to St. John.
The
lBt M.
prin. A Int.,
debenture stock, unconditionally guaranteed,
by the Province of New Brunswick.
Callable for 1% fund beginning in
1922 at 105.
V. 94. p. 1450; V. 95, p. 1747. / - v.
The title of the railway being now vested In the Prov. of N. B., the Prov.
of N. B. issued Provincial 6% bonds to complete the railway between
Centreville and Westfield at $10,000 per mile for 170 miles.
W. P. Jones,
Pres., Woodstock, N. B.; E. S. Carter, Sec., St. John, N. B.—(V. 98,
p. 1678; V. 112, p. 2191.)
ST. JOHNSBURY A LAKE CHAMPLAIN RR.—Owns Lunenburg, Vt..
to Maquan Bay, on Lake Champlain, 118 miles.
The road is operated
indepenently, although a majority of the stock is owned by the Boston A
Maine.
Stock com., $2,452,449; pref., $1,154,000; par. $50.
In 1920,
Gross, $542,600; net, after taxes, def., $80,630; other income, $25,466;
deductions, $202,058; bal., def., $257,222.—(V. 105, p. 1414.)
ST. JOSEPH & GRAND ISLAND RY.—Owns St. Joseph, Mo., to
Island. Neb., 251 mlies; Stouts to Highland, Kan., 7 m.
Grand
1897 (per plan In V. 62, p. 784,
950) of the St. Jos. A Grand Island Railroad, sold In foreclosure.
Union
Pacific Dec. 31 1919, owned $4,553,600 com., $4,943,800 first pref .and
$3,372,400 2d pref.
V. 84. p. 52, 571; V. 92. p. 597,1244.
On July 91915
Circuit Court of Appeals In a suit by certain pref. stockholders reversed the
decision of the lower court, which held Illegal the control by the Union
Pacific RR. Co.
The appeal of the plaintiffs from this decision to the
U. 8. Supreme Court was voluntarily dismissed June 12 1916.
In June 1918
the preferred stock deposited with the committee referred to in previous
reports was all sold to the Union Pacific RR. Co.
V. 102, p. 1812.
Federal Compensation.—$372,138 yearly during Federal control.—V. 108.
HISTORY.—A reorganization Feb. 23
p.
1166.
DIVIDENDS
On
1899
3
J1898
5
(%)—
first preferred
\
1900
3
1901
5
1902
5
None
Since
BONDS.—Bonds for $1,000,000 can be sold under mtge. of 1897 only for
mileage at not exceeding $6,000 per mile. See listings is V. 64, p. 1138;
new
Action has been dropped on proposed new bond issue,
pending stockholders' suit.
V. 95. p. 420, 1123, 1536.
V. 94, p. 763.
to
Jan. 1 -Mar. 31
vanna,
RR. Lines Owned—
&
27 miles.
Leased to Chicago A Alton RR., which owns all the $97,000
stock, for 999 years from Oct. 1 1910. and guarantees the bonds, prin. A int.
1911 A 1912, 6 J*%; 1913. 6
1914 to July
The Sec.
1950,
is Edw. F. Stephenson, and Treas., Milton S. Barger.—(V. Ill, p.
2224; V. 112, p. 1867.)
Hudson Canal
J/July 1 1941
A
als, Ac., $86,139; bal., sur., $537,639.
Sur. for Yr.
ROBERVAL-SAGUENAY RR.—Bagotville to Ha-Ha Bay June.. 20
branches, Laterriere June, to Lake Kenogami, 13.8 m.; La Brosse June,
m.; Bagotville to St. Alexis, 1.4 m.; total, 38.8 nallea.
Stock, common, $1,200,000, and pref. 6% non-cum., $800,000; par. $100.
The $536,400 consol. ref, mtge. 5s, $723,600 Ha-Ha Bay Ry. 1st 5s and the
$70,000 bonds issued June 1 1919 were replaced by a single bond for $1,330,000 (7%), payable to the General Trust of Canada, Montreal, on July 1
1955.
For year ended Dec. 31 1919:
Gross, $335,005; net, $127,271; int.
and rentals, $95,663; net income, $31,608.
Pres., Hon. F. L. Beique, Mon¬
treal; V.-P., J. E. A. Dubuc; Treas., A. Bechard, Chicoutimi, Que.
1st mtge.
A
Portland, Me
Old Colony Tr Co, Boston
Un S D A T Co, Portland
Grand Cent TermT, N Y
Louis
to Chicoutimi, 3.6
p.
3
J
1 1937
MAN Nov 2 1923
_)Jan 23 '18 2%
800.000
400.000
m.;
$149,500 stock
O Oct
MAS Mch 1 1944
J
A
J July 1 1952
1897
by Denver A Rio Grande.
See V. 63, p. 404.
Mortgage abstract, V. 54
p. 163, and application to N. Y. Stook Exchange In V. 54, p. 446;
V. §1.
p. 1014.
Of the bonds. $2,277,000 are guar, by D. A R. G.. which, Dec. 31
1920, owned $1,511,000 of the issue. V.70,p.791. See guaranty V.70,p.1295.
Year 1918, Federal compensation, $144,366; total income, $159,970; int.
charges, Ac., $183,894; aef., $23,924.
For cal. year 1917, gross was
$633,120, and net, after taxes, $184,684.
J. A. Hanley, Sec.; Gen. Mgr.,
James Russell.—(V. 112, p. 470.)
preceding pages.
A
J
43
43
RIO GRANDE SOUTHERN RR.—Ridgeway, Col., to Durango, 162 m.,
and branches, 13 m.
Stock, $4,509,000; Dec. 31 1920, $3,579,737, owned
on
New York
May 1 1921
A
£873,285
1.700.0W
-
shown
Credit Gen du Can, Mont
3% Erie RR Co. New York
J Jan 11927
New York or St Louis
AJ21 July 21 1940
Safe Dep A Tr Co. Bait
J Jan 1 1921
2% By check.
2,500.000
1.000
251
15%
CoppellACo.NY
A
Q—F
i.499.490
3.590.000
4.000.000
St
Maitl'd,
MAN Nov 1 1942
5 g
4
1.000
'Tnfi
4 g
1.000
4 g
1,000
1.000
1.000 In treasury
1,000
204,000
1.000
98,000
1.000
5 g
40.000
4 g
100&1000
225.000
100
255.700 Sea text.
Jt Belt RR
lto
199
of
Where Interest one
Dividends are Payable
A
$300,000
400,000
300,000
9,057,600
3.494,000
4,400,000
1,350,000
500,000
1912
170
118
1915.
RR. direct to stockholders, $33,312, organlz'n, $700.
A
See text
100
1891
120
127
nols B
&
J
5 g
3.390.000
5 g
J
250,000
345.360 5 H la 20 J
100
Gross
30% of Gross
Fixed
Earnings.
Earnings,
Charges.
1918
$1,247,948
$374,384
$108,333
1917
1,169,256
350,777
100,000
—(V. 97, p. 888; V. 104, p. 2642; V. 105, p. 2457.)
are
J July 1 1955
J Jan 1 1921
J
555.200 See
$1,000
i§97
EARNINGS.—For 12 months ended Dec. 31 1918:
18
7 g
text J
Places
R R.
1912
jointly and severally guaranteed the bonds, prin. and int.
The Denver A
Rio Grande owns $1,958,300 of the $2,000,000 capital stock,
V. 105, p.
2457; V. 95, p. 1542; V. 97. p. 888.
1903,
J July 11940
100
RIO GRANDE JUNCTION RY.—Owns road Rifle Creek. Col., to a con
nectlon with the Denver A Rio Grande at Grande Jet., 62 miles.
This is a
connecting link In the standard-gauge route between Ogden and Denvei
and Colorado Springs.
Leased by Colorado Midland Railway (foreclosed)
and Denver A Rio Grande at 30% of gross earnings, which companies
Since
A
1.000
1,000
bonds, $10,000,000 (Ser. A to E) have been sold.
V. 77. p. 629, 695; V. 78.
p. 584, 1393; V. 84, p. 932.
This collateral consists or $2,680,000 Rich¬
mond Fred. & Potomac gen. 3J4s, $947,200 common, $828,800 dividend
obligations, $4,000,000 Washington Southern 1st 4s, $4,000,000 stock
(being entire issue of latter).
See form of guaranty, V. 77. p. 2391; V. 81,
p. 1178.
Cal. year 1920, Int. on investments, Ac., $671,352; Int., taxes,
Ac., $407,599; div. (6%). $160,200; bal., sur., $103,553.—(V. 84. p. 932.)
1905. 1906.
J
1,330,000
1907
1910
Rut-Oan first M gold assumed
DIVIDENDS.—
4 g
100
trai"
Dividend
Maturity
$4,509,000
$1,000
1919
Rochester & Genesee Val—Stock rental Erie RR
18
Rock Island Ark & Louisiana—See Ohio R I A Pacific
Rock Island-Frisco Term—1st M gold guar Jointly.xo*
21.4
Rockingham RR—1st M $250,000 gold
SBax
Rome & Clinton—Stock (rental guaranteed)
(The) Rome Water town & Ogdensb—See New Yor k Oen
Roscoe Snyder & Pacific—
1st ref M $5,000,000 gold red text
_Gy
Rumford Falls & R L—Stock $300,000
Rumford Falls A R L first mtge gold sinking fund.z
27
36
Mortgage, redeemable
s
897
Rutland—Stock cum 7% pref (see text)—.—
117
EARNINGS.—
1921.
1920.
owing
Jan. 1 -Dec. 31
1920.
1919.
^
$810,229
$3,433,706
$2,932,822
def11,493
def397,385
def42,430
Income Account.—For cal. year 1919: Rental from U. S. RR. Admin.,
$372,138; other income, $11,663; int., rentals, Ac., $283,625: bal., sur..
$87,617.
Pres., C. R. Gray; Sec.. Thos. Price; Treas., F. V. S. Crosby.
—(V. 103, p. 1882; V. 108, p. 1166.)
Gross
Net after taxes
$759,977
13,217
ST. JOSEPH SOUTH BEND & SOUTHERN RR.—Owns South Bend,
Ind., to St. Joseph, Mich., 39 m.
Stock. $500,000 com. and $250,000 5%
pref. Leavsed to Lad. 111. A Iowa RR. (now New York Central RR.) for 50
rears from Feb. 23 1900, the Michigan Central assuming operation on Feb.15
1905; 5% per annum ou pref. and 2% on com. are paid yearly (M A 8 15)
since Sept. 1901.
In 1905 and 1907 and March and Sept. 1909, Sept. 1011,
Sept. 1913, Sept. 1915. Mar. 1918, and Mar. 1920 paid H % extra on com¬
mon.
No bonds.
Officers: Jacob S. Farlee, Pres.; Colgate Hoyt, V.-Pres.;
Frank H. Carter. Sec. A Treas.—(V. 106, p. 930, 1127.)
ST. LAWRENCE
RY.—[See Map* N. Y.C. Lines.
Adirondack Jet., 43.07 ml lee. Leases from
St ADIRONDACK
—Owns from Malone, N. Y., to
Ry., Valleyfleld to Beauharnois, Que., 13.3 m., and has
trackage rights over Can. Pac. from Adirondack Jet. to Montreal, Que.,
8.80 m.; other lines, 5.46; total. 65.17 miles.
New York Central RR. owns
Grand Trunk
Miles
Date
Par
Amoun*
Rate
When
Road
Bonds
Value
Outstanding
%
Payable
~190:f
$1,000
1.000
1890
1889
1902
1903
500 Ac
3.500,000
2.000,000
45,000
j
6
150,000
Last coup
MAN May 1 1922
a
j Aug
1 1926
«t Louis & O Fallon—First mortgage gold
-.z
Second M $300,000 g red par beg Oct 1912
y
St Louis Peoria St N w Ry—See Chicago A North w estern
1,000
500 Ac
A
O Oct
1 1930
F
A
A
A
A Feb 1 1929
O Oct 1 1922
Farmers L A Tr Oc. N Y
St Louis Union Trust Co
M
A
100
Series C 6% callable at 102*4 and int,Cexc*Ar*
Adjust M cum $75,000,000; ser A, call par A intBax
Income M non-cum $75,000,000; ser A, call par.Un
Old Gen U goId(lston658 m) 33,659,0OOare6sUs.zc*
Kansas City Ft Scott A Memphis System bonds —
1916
1916
3,471
3,471
1918
1916
1916
1881
3.471
3.471
3.471
986
see tb at com
100 Ac d86,198,650
1912
K O F S & U pref stock trust certs
g
5 A 6 g
370.000
337,000
72,000
1887
79
1909
1,000
1.000
1.000
1,000
500 AC
1,006
341
1902
1.000
38.59
1902
1888
1,000
1,000
1896
1900
AS15
1928
State
1
1
1
1
1
1
1950
1950
1928
1955
1960
1931
Office of
6
4
J
do
Earned in full In
Bankers
'21-Oct '23
Sept*21-8ept *22
O Oot
A
do
Earned in full In 1916-20
Trust Co,
Trust
Union Trust Co
Bankers
do
ft
o Apr
American
O Apr
O Oct
A
J Jan
11952
4 g
A
O Oct
4
A
Jg
do
do
do
1 1929
1 1930
1 1939
Y
Co. N Y
do
Trust
1 1947
A
Go,
Cent Un Trust Co, N
1 1987
July 1 1996
A
i«
N Y
Bankers
O Oct
4 i
N T
Offlce^of Company, N Y
A
«
1916-20.
St Louis
j July 1 1942
a
Company, N Y
do
do
1922
Q—jf
j
5 g
349,505
425,000
45.000
5,500
147,000
23.000
O Oct
A
J e
4 ?
64
188
112
103
106
1897
1899
July
July
July
A
A
O July
Oct. I
July
J
A
J July
J
J
4 x
1.000
St L Memphis A S E 1st
Bank. Chicago
1
Sep
J
A
A
f g
8
5
5.312,700
27,000
A
J
J
5 8
J* 8
6
1.000
1,000
1902
Oonsol mtge (V 64. p 1861) gold, no option.Ba z
Southwest Dlv M $1,500,000 red at par g—-Ce.*o*
Gent Dlv 1st M gold $3,462,000 red at 102*4-N,*c*
Northwestern Division rotge redeem 102*4 —N.zc*
Guanah Acme A Pac Ry 1st M call 105
—
J
t 8
5 g
24.950,000
10,598,000
100 Ac d39,219,643
35.192,000
100 Ac
9,362,000
1.000
(00 Ad
100 Ac
100
1911
Equip notes Ser S due $74,000 s-a (A & O)
Gx
PrieceConst uCo eq notes SerB g gu due s-a. N.o
Remnants Old Bonds. Ac, still exchangeable under plan
gua
Musk Py Bridge 1st M g lnt rent red 105 ...SSt .xc"
It Louis & San Francisco—
Collateral trust mortgage on branches gold Ce.zc*
8
50,447,026
7,500,000
100
Old Securities Undisturbed—
M
text) call 105
c*
City Fort Scott A Memphis—See that co
KO Merapbls A Birm—See K O Ft Scott A Memphis
Auxiliary Companies
Birm Belt 1st M g red 102*4 gu p A i (end).OB*xc»
Worth & Rio Or 1st M gold old 5s lnt red.Ce.xo*
dOn Dec 31 1920 an additional $7,109,850 Prior 11
managers for retirement of $5,312,700 trust ctffe. f
5 g
6 g
Ry
St Louis>Ssn Francisco Ry—
Gammon stock $250,000,000 v t c...
Pf stk noH-cum$200.000.000 ▼ t c; sarA6% red par
Prier ilea M $250,000,000 gold securing—
Series A 4% callable at par and lnt..Cexc*Ar*
Series B 5% callable at 105 and int. .Cexc*Ar»
A
65g
300.000
paid 1997
IBank of Kennett, Ken¬
nett, Mo.
St Louis Union Tr Co
_
It Louis Merchants' Br Term—1st Mgu p A 1 g-SSt.sc
Kerch Bridge 1st M red sixioe Feb 11909 at 110. SSt x
ana
Dividends are Payable
Maturity
4%
$817,000
191*
42
Loui« EI Reno & W—1st M 1817,000k red..(text)
Louis Iron Mt St Southern—See Missouri Pacific
Louis Kennett & S E RR—let M S150.000
.
Louis Memphis & S E—See St Louis A San Fra
and
Where Interest
Places
Last Dividend
RAILROAD COMPANIES
[For abbreviations, Ac., see notes on page 6]
H
St
$t
St
[VOL. 112.
RAILWAY STOCKS AND BONDS
118
do
Tr
Co, St
Bankers Trust Co, N
L
Y
Kansas
223
sn
or
entire stock, $1.615,000. and leased the road for 21 years from Jan. 1 1916
V. 102, p. 1443; V. $9, p. 1599; V. 101. p. 450, 775.
As per lease, the earn
tags
are now
included with those of the lessee,—(V. 101, p. 776.)
p.
1742, 2191.)
,
1918 to Mar. 31 1919 net loss from oper., $26,620.
For the
end. Dec. 31 1917 gross was $237,488, agst $223,863, and net, after
taxes, $17,723, agst. $17,080.
Robert Winthrop A Co., N. Y., are inter¬
ested.—(V. 107, p. 1920; V. 108, p, 2123; V, 111, p. 1270.)
&
SOUTHEASTERN
RR.—i0™*K3Set*,
and taxes, $14,710; bal
$10,529.
Jftres., W D.
Lasswell; V,-Pres., H B. Pankey; Sec. A Treas., R. R. Paxakey.
Offloe.
Kennett. Mo.—(V. 106, p. 191.)
ST.
.
BRIDOE TERMINAL RY.—ORGANL
near union Station, via Main St., Ball
Ferry St., opposite the Merchants' Bridge, 4.61 m.; It owns and
the Madison 111. A St. L. Ry., 1.91 m.; total, 5.92 miles.
Leases
L0UI8
MERCHANTS'
Ac., to
controls
Kerch. Bridge (1.99 m.) for Int. on Bridge Go.'s $2,666,000
bends
Federal Compensation.—$412,427 yearly during Federal control (contract
6X6CUt'6d)
Stock auth., ,$3,600,000; issued, $2,939,500; par, $100; of this thegTerminal Railroad Association owned $2,939,300 Dec. 31 1920.
On Dec. 31
1919 there was due to Term. RR. of St. Louis $2,513,719 for advances
under its guaranty.
In Nov. 1893 Term. RR. Assn of St. Louis guaran¬
teed by endorsement the prin. and int. of its $3,500,000 1st mtge. bonds
and the interest on $2,000,000 Merch. Bdge. 6s.
Suit, V. 91, Pj. 1448.
Year—
Cross.
Net.
Other Income.
Balance.
Charges.
1920
1919
1918
—
$4,364,490 def$524,320 x$l,553,918
x513,689
—...
x453,929
1917
3,166,033
759.978
610,553
x Includes compensation due from Government.-
P.
$1,097,952
def.$68,354
def. 75,325
589,014
def. 32.359
486,288
sur.143,576
1,226,955
(V. 91, p. 1448; V. 108,
2241.)
ST. LOUIS & O'FALLON RY.—East St. Louis, 111., to Mine Na. 2
8.94 miles.
Incorporated in Illinois June 1 1896.
Stock. $410,000, all
issued.
For cal. year 1919, gross, $372,610; net, def., $67,188.
Pres..
William Cotter. St. Louis, Mo.; Treas., Philip Marsh.—(V. 103. p. 62.)
ST. LOUIS-SAN FRANCISCO RAILWAY.—(See Map.)—1The com¬
pany on Dec. 31 1920 operated directly or through subsidiaries a total of
5,256 miles of road, of which 3,466 miles are owned in fee, 1,685 miles are
controled through ownership of substantially all the
capital stock, and 105
miles are operated under trackage rights.
The mileage of the company ex¬
tends from St. Louis into the States of Missouri,
Kansas, Arkansas, Okla¬
homa and Texas.
Through the Kansas City Fort Scott A Memphis Ry.,
which it controls
by stock ownership, the St. Louis-San Francisoo Ry. also
has a direct through route from Kansas City to Memphis and Birmingham.
V. 106, p. 2006; V. 107, p. 2377.
ORGANIZATION.—Incorporated in Missouri Aug. 24 1916 aid sac
ceeded on Nov. 1 1916, per plan in V. 102,
p. 896, 1061, to certain proper-
ties of St. Louis A San Francisco
RR., foreclosed under the General lien
and also the Refunding Mortgage.
V. 102, p. 2167, 1256, 1342.
As to security for new bond issues, see v.
107, p. 2477.
Securities of Present Co. (compare V. 104,
p. 452, 1793; V. 107, p. 2477i
(1) Prior Lien Mtge., Series A 4%; B 5% Bonds; C 6% Bonds.
Limited to $250,000,000.
Issuable in separate series bearing such interest rates not to exceed
0%, maturing at different dates and redeemable at
such times, and premiums as
may be determined.
Including Dec.31 1920,
Series A 4% bonds in hands of
public
$86,198,650
Held to retire remnants of old securities
(see table)
7,109,850
In Insurance fund
90,000
5% Bonds, held by public (V. 1037 pVi§89f vVioO
S52V-T
Held in insurance
-——-
——
24,950.000
fund
—
50.000
Issuable for general corporate purposes
IIIII7IIII
5,533.500
Series C 6% bonds sold in Dec. 1918 (see "Gen. Finances"
below
and V. 107, p. 2477; V. 108, p. 2325)
19,698.009
Balance reserve in series to retire equip, bonds after Dec. 1 1919
1,423.009
Reserved to retire $9,484,000 Gen. M. bonds, due 1931
9.484.000
Reserved, issuable after Jan. 1 1917, at par, for new equipment
and improvements:
(a) Prior to Jan. 1 1922. for entire cost
at rate of $6,000,000 annually, viz.,
equip., $2,000,000; im¬
provements, $3,000,000; (5) After Jan. 1 1922. for two-thirds
of cost at the cumulative rate of $8,000,000 biennially (equip
$4,000,000. impts., $4,000.000)
55.976.000
Reserved for issue at par to construct new mileage or acquire
other lines of railroad or stocks or bonds representative thereof
'
oi after Jan. 1 1931 for two-thirds cost of
equipment or for
improvements and additions, $4,000,000 biennially
44.355.000
by
N Y
Tr N Y
Central Union
be Id
were
reorganization
nderivlnir bonds
u
issue,but payable, prior to the maturity of the principal, only out
be paid at
The full semi-annual 3 % Interest on the outstanding Adjustment
been paid to and including Aprl 921, and on Apr. 1 1921 to
bonds
1920,
(annual) interest on the outstanding income bonds.
V.
166. p. 822; V. 107, p. 1005; V. 108, p. 1166; V. 109, p. 88$.
Outstanding as of Dec. 31 1920
$39,219,643
Reserved to retire remnants of old disturbed bonds
1,328,176
Reserved for 33 1-3% of cost of equipment and improvements
to be issued at par after Jan. 1 1922, $4,000,000 biennially
($2,000,000 for equip, and $2,000,000 for improvements).>$20,000,000
Reserved to be Issued at par after Jan. 1 1932. at the cumulative
rate of $3,000,000 annually for that part of the cost of im¬
provements and for additions other than new mileage, in re¬
spect of which Prior Lien Mtge. bonds shall not b« issued.. 14,452.182
-
8) Non-Cum. Income Mtge. Bonds, $75,000,000: Note Issued, $35,192,000.
Limited to $75,000,000. Trustees, Central Union Trust Co. of N. Y. and
__
...
H.
J,
Smith.
To
bear
non-cumulative
interest
sueh
at
rat#
not
ex¬
ceeding 6 % per annum as may be named at time of issue, but only after the
payment of all interest on the Adjustment Bonds, which see above,
lories A, 6%, Interest from July 1 1915 to June 30 1916 earned
and paid in full on distribution of new bonds. V.103. p.l688..$35.192,009
<
eserved for Issue at par
ment,
aur„
ZATION.—Double-track road from
8c
bonds
has
Mo., to Piggott, Ark., 20 miles.
Stock Dec. 31 1919, $300,006; par.
$100.
Bonds auth.. $156,000 1st 6a. dated Apr. 20 191$. of whisk $1**.000 Issued to retire old bonds.
Year eading Dee. 31 1910, grass, 990.716;
net, $26,034; int.
and $2.2 87.200
stk
Bankers Trust Co.
11922
July 1 1928
J
of the "Available Net Income."
Interest accumulated must
or before maturity, but accumulations shall not bear interest.
From Jan. 1
year
KENNETT
4T
6% ad justraent
also the full 6%
ST. LOUIS & HANNIBAL RR.—Hannibal to Gilmore, Mo., 85.6 miles.
Rolls Junct. to Perry, 17.80 m.
The railway was sold under foreclosure
Sept. 28 1917 and reorganized per plan in V. 105, p. 717, all the old bands
being retired and no new bonds issued.
The new company took pomsssisai
Dec. 31 1917.
The company in Sept. 1920 withdrew its petition made to
the Missouri P. 8. Commission In May 1919 for permission to abandon the
entire system and scrap the entire road.
George A. Mahan, Hannibal,
attorney for the company, stated that the property had been sold to John
Ringling (one of the brothers who owns Ringltag Bros. Circus) who intends
to improve the property and operate it.
Auth. capital stock, $250,000
non-cum. 6% pref. stock and $700,000 common (par $100); all the pref. and
$370,000 common stock had been issued to June 1 1918 (V. 105, p. 717).
ST. LOUIS
Dref
A
(2) Cumulative Adjustment Mortgage Bonds.
Limited to $75,000,000.
Bankers Trust Co. and E. F. Swinney, Trus¬
tee;.
Interest payable at such rate not exceeding 0% per annum as fixed
at time of
ST. LOUIS EL RENO & WESTERN RY.—Guthrie to El Reno, Okla.'
42 m., opened in 1904.
Ft. Smith A West, acquired 51% of stock la 1906
Stock, $970,800.
In Oct. 1915 Arthur L. Mills, Fort Smith, was mad©
receiver.
V. 102, p. 251.
Pres., J. C. Van Riper.
Sale of property pro¬
tested.—(V. 112,
1.000,000
1,191,000
1,328,175
"A "4% b onds and
O.F. 8 .AMR
K
for improvements, additions and eq uip1922 to 1931, $2,000,000; thereafter $3,000,000 yearly 39,808,000
STOCK.—The company's share capital embraces:
4) Non-Cum, Pref. Stock, $200,000,000 Auth.', Note Issued
$7,500,000
Entitled to receive for any fiscal year such non-cumulative dividends
as may be determined by the board, provided for the two flseal years next
preceding the full interest shall have been paid
on the Income Mortgage
hoods.
Issuable in series and redeemable, in whole or in part, at such
premiums, Ac., as may be fixed at time of issue.
Presently Issuable as 6% pref. stock (redeemable if allowed by
laws at par and dlv.) for adjustment of outstanding debt— $7,500,000
For future purposes, with maximum dividend rate to be fixed
at time or issue at not over 7%
...192,500,900
...
i6) Common
Stock,
$250,000,000
Authorised;
$50,447,000 Now Issued
exceeding. 199,533,000
Reserved for future Issue for corporate purposes, not
Five-Year
Voting Trust—Bight to Pledge New Slock under Prior Lien Mortgage •
pref. and common stock will be held till July 1 1921 in a voting trust,
in any year of foil interest on the income bonds the
terminate the agreement.
Voting trustees: Frederic
W. Alien. James W. Lusk. Charles H. Sabta. James Speyer, Frederick
Strauss, Eugene V. R. Thayer, and Feet us J. Wade.
The new pref. and common stock is pledged as part security under the
The
unless upon payment
trustees shall elect to
Prior Lien Mortgage.
In Dec 1920 the exchange of old bonds for the new issues and oash was
still in progress under plan as follows, these then including in the aggregate
$2,287,200 underlying mortgage bonds and $5,312,700 4%
K. O. Ft. 8. A M. pref. stock:
Distribution of New
(
) For Ref. M.and Oen.
trust ctfis. for
Securities and Cash—Holders—
Lien Bonds andj4% Ouar. Trusi Certificates Issued
for Kansas City Fort Scott A Memphis Preferred Stock.
Existing
Principal.
Originally
Outstanding.
Ref. Mtge. 4s.$68,557.000
9%
A
6% +
^Foreclosed.)
4 %
Income.
Mart. 6%.
+{$51,417,750 $17,139,250
Foreclosed.)
Gen. Lien 5s.. 69.384.000
Do
WiU BecetvePrior Lien
Cum. Ad).
Ser. A 4%.
Mort.%%.
Cash.
/
75%
17.346,000
25%
25%
17,340.000
$34,692,600
25i-
50%
$2,312,568
Interest
Trust Otfs 15.000.000
■
for K O F 8 A M pref stk
f$l 1.250.000
75%
Old Remnants—Originally
(for Amounts out. See table above)Outstanding.
3.333%
$3,760,006
25%
Terms Offered for
Oonsol. Mtge. 4% bonds.
$1,558,000
Southwest. Dlv. 1st 5% bonds..
829,000
Central Div. 1st 4% bonds
145,000
Northwest. Div. 1st 4% bonds..
47.000
Trust Mortgage 6% or 1887
Trust Mtge. 6% bonds of 1880
Mo. A West. Div. 1st 6% bds. ..
-.
Muskogee City Bdge. 1st M. 5s.
Chester Per. A 8te. Gen.
1st 5s
439.000
182,000
74.000
100.000
•
Will Receive-
Cash.
(a)§5 %
(a) 3 *4%
(a) 314%
(a)6*£ %
(0)12*4%
(0)12*4%
5%
140 OOO
Prior Lien, A, 4%
100%-$1.558,006
125%- 1.036.250
181,250
125%58.750
125%548.750
125%227.500
125%92,500
125%126,000
125%175.000
125%-
Pemiscot RR. 1st M. 0% bonds
Kennett A Osceola RR. 1st 6s..
54.000 100% A Int.
65.000 100% A lnt
4.500 100% A tat.
Ft. W. A Rio Gr. Ry. 1st M. 4s. 2.923.000
So. Mo. A Ark. RR. 1st M. 5s..
-----
100%- 2.923,000
Quanah Acme A Pac. Ry. 1st 6s. 1.758.000
fa)l *4 %
125%- 2.197.500
x No cash, but 25% ($3,750,000) cum. Adjust. Mtge. 6a.
(a) Includes interest from last matured coupon to July 11916*
Equipment trusts issued to Director-General for rolling stock allocated
See article on page 3.
to this company.
EARNINGS.—
•Gross
•Net after taxes
♦
-Dec. 31—
-Jan. 1—Mar. 31Jan.
1919.
1920.
1921.
1920.
.$20,696,166 $21,472,622 S93.801.034 $78,552,125
4,013,006
3,353,361
9,475,441
15,407,832
Exclusive of lines in Texas.
MAY, 1921.]
RAILWAY STOCKS AND BONDS
RAILROAD
COMPANIES
[For abbreviations, &c.,
Miles
Date
Par
Amount
Rate
Road
notes on page 6]
see
Bonds
Value
Outstanding
%
8t Louis Southwestern—Common stock $110,000.00u
Preferred stock 5% non-cumulative $20,000.000—
First mortgage certs ($16,500 per mile) gold.Ce.xo*
Second M 4% inc $10,000,000 non-cum g__Ba.xo*
First Consolidated mtge $25,000,000 g — Eq.xc'Ar
-
100
19.893.650
1891
1,000
1891
500 Ac
1902
1,000
1.000
1.000
1.000
20.000,000
3,042.500
21.591.750
8,155,000
2,007,000
--
1,223
1,223
1,271
1912
100
1910
37
■
—
w
—
See text
4Hg
1,085,000
New
York,
New
York
Ac
London.
and
St
Louis
1.000
1909
$1,000
1880
1,000
1.000
1894
---
19
—
1920
1918
—
100 Ac
8.000.000
..
._
...
.......
do
Tr
Co
Y A StL'
N
Sept '21-Sept '22 St L Union Tr, St Louis
1916
^
—
—
Dec
1
1
Louis,
Mo
Miss Val Tr Co. St Louis
1924
First Tr
1929
A
Sav
Bk. Chic
—
—
1919
1013
1917
318
—
-«•
— — — — —r W —
— —
—
w
—
—
1,000
1.000
5,166
5,252
$3,204,288 $15,371,702 $11,876,188
See
$1,104,593
$1,138,778
below.
8,894,825
8.448,877
2,326,895
2,325,033
2,111,520
2,111,520
M" A"
N
Nov
1 1938
Morgan A Co, N Y
Bankers
Trust
Co.
N
Y
225.000
Income
1920 in May 28 1921
1918.
J P
A D15 Dec 15 1923
Dec 15 1923
J
g
------
See text
1917
1919.
Central Union Trust, NY
Northwest'n Tr Co, St P
May 1 1930
May 1 1944
Oont A Com Tr A 8 B, Ohio
MAS To Sept 1941
293,000
fig
165.000
1919
See Cbro nlcle of Nov. 29
7
39.U00
1,000,000
Central Union Trust, NY
4 g
J""A""J Jan" l" 1943
17.544.000
48,000 (See text below)
Chase Nat Bank,~"N Y
A
A
O Apr* Y1924""
6 g
1,850.000
St Louis. Mo
F
A
A Feb 1 1943
•
5 g
4,413.000
1,000
1917
A
A
Jan 1967
5 g
1,036,000
100
—
1893
729
5°p
1,500,000
1.000
lOOAc
1908
July
6
Account Based
1919.
on
Y1957""
Estimated
Federal
Compensation.
1919.
1918.
.
$3,910,914 Maint. of corp.
organizat'n.
44,600
Ry. tax accr'ls
210,712
228,616 Rt.for leas.rds.
Stand. return*$3,910,914
Div. income._
44,600
Income
..
A St LouU
do
Jan
5 g
As collat
—..$98,723,040 $82,202,919 $72,475,313
5,259,688
15,317,477
11,831,848
____Dr.2,360,123 Dr.779,325 Dr.623,759
304,723
833,551
668,098
...
Y, Eq Tr
Guar
St
0 g
M
250,000
fig
250,000 4 g & 5 g M
1917
4.38
5,252
fixed charge obligations—...
Cum. Adjust, bonds
N
I A P
-
31
1 1947
5g
$400,000
500
Deo
Aug 1 1956
July 1 1940
Aug 1 1955
5 g
5 e
450,000
500.000
44.000
1904
—-
1«
for year ended Dec.
income bonds..
1 1952
J July 1 1940
5 K
See text
•
Rentals, sinking fund. Ac
on
Payable
are
H Office, 601 6th Ave, N Y
Guaranty Trust Co, N Y
Bankers Trust Co, N Y
Equitable Tr Co. N Y
J Jan
5 g
5 i
500,000
authorized
1920.
on
Where Interest ana
Dividends
1943
r"&"D Dec '21-Dec *23 Phlla Tr A Safe Dep Co
F
A
A To Feb 1 1924
U S Trust Go, N Y
A
A
O Oct '21to Apr'24 Guaranty Trust Co, N Y
M A 815 Sept '21-Sept'26
do
do
6 S
231,000
1,000
1,000
1.000
1.090
"Chronicle."
Int.
A
5
1905
—
——
Int.
A
5
1910
''-WM
4-1
income
J
J
165,000
1915
-
•
A 1 (end)
Ce.zo*Ar
Equipment trust obligations (on Dec. 31 1919>
San Antonio Belt & Term Ry—1st Mnotes.MESTc
San Antonio Uvalde & Gulf—1st M $13,500,000.gx
Receiver's certificates $250,000 auth
San Diego & Arizona Ry.—Mortgage $12,000,000
San Francisco & Nor Pacific—See Northwest Pac RR
on
4 g
5 g
a
153,000
1900
45
First M $21,600,000 g guar p
Total
J
OS
320.000
1897
16
San Antonio & Aransas Pass—Stock
Int.
Apr 151914.
1.000
1916
'
Guaranteed notes
Other income
Places
Ac.—
Salt LC Un Dep at RR—1st M $1,500,000 g red.Ba-.x
Salt Lake Oar &West Ry—1st M $600,000 call 104CC
Average mileage operatedOperating Revenue—
Total operating revenue.,..
Operating income
Hire of equipment—
Dividend
and Maturity
MAN Nov 1 1989
A
J Nov 1 1989
J
A
D June 1 1932
4 g
4
1.000
1.000
1.000
1914
Consol mtge gold ($100,000 are 4b) , lnt as rental _.x
1st A: Ref M $20,000,000 g gu (V 104, p 2344)
Guar Gold notes $8,000,000 g callable at 101—vc*
EARNINGS.- -Report
—
1913
1914
-
---
Gray's Pt Term 1st M guar p & 1 gold
SSt.zoAr
1st Ref AExt M$4,000,000g red text gu pAlEq.xo*
Cen Ar AE 1st M $3,000,000 g red 105 text SSxc*Ar*
Shreveport Bdge A Term 1st M $500,000 g gu
x
8t Louis Troy & Eastern—First mtge $500,000. —CC
Equip notes $202,000 $15.000A$14.000 s-a_-SST.x
St Paul Bridge & Term Ry—1st M $500,000—xxFCs
5t Paul Eastern Grand Trunk—See Chlo & North West
St Paul & Kansas City Short Line RR—See Chicago R
St Paul Union Depot—First M gold, lnt as rental—z
Second mortgage $200,000
Car trusts Ac notes
Last
When
Payable
$100 $16,356,100
First and Term Unifylng M $100,000,000 g_ Qxo* Ar *
Stephenville Nor A Sou Tex 1st M g gu red 105_xo*
Paragould Southeastern 1st M $5,000,000 gu
Special equip trust (V 96, p 1557) $33,000 s-an
x
Equipment gold notes ser D
do
Ser E, due various s-a, call par
Q
do
Ser F, due $21,000 s-a
G.c*
Guaranteed, Bonds,
119
from
fund.secur.
Income
Int.on fund.dt.
from
unf.sec.Aaccts
Misc. income.
36,728
75,511
62,289
342,139
Int.on unf.dt.
Miscellaneous.
1918.
$164,658
72,607
$70,820
79,831
283.600
283,60Q
2,250,490
63,212
390,177
2,265,018
26,492
709,950
inc..$4,570,653 $4,296,369 Inc.to prof.,Ac.$l,345,909
$860,652
♦Tentative standard return as certified by Inter-State Commerce Comm.
OFFICERS.—Chairman, Edwin Gould, N. Y.; Pres., J. M. Herbert,
St. Louis; V.-Pres., Dave H. Morris, F. W. Green, C. W. Michel and N. B.
Burr; Sec., Paul J. Longua; Treas., G. K. Warner; Gen. Aud., R. D. Cobb,
Gross
St. Louis.
Balance,
$933,869df$2,148,021
(including 2 mos. Fed. comp., 6 mos. Govt. guar.,,,
net oper. income 4 mos., and other income, $16,342,086; deductions (rentals,
taxes, sinking funds, etc.), $515,680; interest, $14,083,175;
balance, sur¬
plus, $1,743,231.
Directors.—Edwin
surplus
For 1920, gross income
OFFICERS.—Chairman. E. N. Brown; Pres.. J. M. Kurn: 1st
ST. LOUIS TROY & EASTERN
vacant; V.-P.,
C.
W.
Michel; 3d V.-P., T. A. Hamilton; 4th V.-P.,
Hilton; 5th V.-P., B. T. Wood; Sec. A Treas., F. H. Hamilton.
ST
A.
DIRECTORS.—Frederic W. Alien, N. Y.; is. N. Brown, N. Y.; Geo. W
Davison, N. Y.; Sam Lazarus and J. M. Kurn, St. Louis; O. H. Sabin and
Hirschman and E. V. R. Thayer, N. Y.; Festus J. Wade. M
St. Louis.—(V. 112, p. 850, 933, 1025, 1742.)
ST. LOUIS SOUTHWESTERN
L. Wilkinson.
RY.—System embraces:
St. Louis S W. Ry. (939.8 miles).Main Line—Delta to Texarkaua411.4
1.6
Main
line traok&ge
Illinois Division (trackage)
....132 6
Cairo and New Madrid Branches
Grays Point Term. Ry. (leased)
Memphis
Dlv. trackage, Ac...
(leased).
37
Paragould S. E. Ry. (leased)
St.L. SW. Ry. of Texas (814.7 mi.).—
Main L—Texark to Comanche. 373.9
A
Dallas Branches 174.8
63.4
Fort Worth
13.2
68.0
Sherman A Hlllsboro
Branches
92.5
Camp MacArthur Branch—__
4 2
Lufkln
branch
..130.9
Stuttgart* Little Rock Branches 78.5 Steph. N. A 8. T. (teasel).... 38.4
Pine Bluff Ark. River (leased). 25.7
Shreveport Branch
.627 Total operated Dec. 31 1919 1,754.5
Cent. Ark. & Eastern
.....
On Jan.
.
m.,
■V. 106.p.297
1 1918 leased Pine Bluff Ark. River Ry..26 miles.
The Stephenville North
75
44.8
and
Edaon
(near
Ry.. Stephenville to Gatesvllle
Comanche, 30 m.. Is leased from
A South Texas
Hamilton)
to
July 1 1913 with option of extension for 40 years, or right to purchase at
anytime.
V. 96. p. 1090. 1490. 1774: V. 90, p. 1$41.
Leases for 30 years
.
from July I 1910, with privilege of purchase on payment
Arkansas A Eastern, operating from Stuttgart, Ark., to
to Hazen. total, 4d miles.
Jet
p.
397; V. 93.
p.
See BONDS below.
104, 228; V. 94,
p.
417, 632.
of bonds, the Cent.
England, and Rice
V
90.
D
1045: V. 91
Leased the Valley Terminal
1 1920.
V. Ill, p. 793:
Ry. Co. for a period of two years from Mar.
V.. 107, p. 795; V. 105, p. 384.
ORGAN.—Reorg. of
Six
months' exteckdon
PrtEF.
11909
orvg
12%
foreclosed in Oct. 1890.
refused, V. 110, p. 1749.
1912
Oct. 1912
13
*14 sine*
4H%(J.*J.)
4H
IX
0
St. Louis Ark. A Texas,
of guaranty
1911
1910
4%
5%
BONDS.—First Consols; auth. Issue, $25,000,000; unissued bonds were
to retire the balance of 2d mtge. Incomes outstanding, $900 of
reserved
consols for $1,900 of incomes.
See V. 74, p. 831; V, 75. p. 790; V.
2160; V. 84. p. 1249; V. 87. p. 814: V. 88. p. 453.
The
First Terminal
and
77.
p
Unifying 5s oi 1912 ($100,000,000 auth. Issue)
aJi the property secured by existing mortgages and will also have a
first lien on all extensions, branches, equipment, Ac., constructed or ac¬
oover
quired with the proceeds of
the
bonds.
Of
the bonds,
$12,269,000 have
been issued, including $4,114,000 in treasury on Jan. 1 1920. Of the remain¬
ing bonds. $38.191.000 art reserved to retire prior Hen bonds of the company
sod controlled companies maturing during the life of the mortgage, and
$49,540,000 for additions. Improvements, equipment, Ac., under stringent
Kavlslous. See 1073; V.p.102,
V. 94.
1450. 1120 , 560 , 488: trusts, series F. V.V, 103,
98. p
1; V. 100, p.
1718.
Equip, V. 95. p. 887;
p.
p.
1211.
Loans and bills payable
as
of Dec. 31 1919, $1,500,000.
Guaranties.—Gray's Point Term. guar, of 1st 5s, V. 09, p. 1062. St.
Louis So. W. owns all stock and leases road till Aug. 1958.
V. 65, p. 413.
Of the Gray's Point Term. Ry. 1st Ref. & Ext. 50-yr. gold 5s, redeemable
5 yrs. at 105 ($4,000,000 auth. Irsue), $550,000 are reserved to
So. 111. A Mo. Bridge bonds:
$843,000 Issued and pledged under St. L. A 8. W. First Term, and Unif
mtge
V. 93. p. 273. 819. 890; V. 86. p. 222. 601.
The Shreveport Bridge A Terminal Co., which Is controlled, Is leased for
50 years from Aug. 1 1905, lta $500,000 bonds ($450,000 issued) being
guaranteed.
V. 81, p. 1097, 1101: V. 82, p. 753; V. 83, p. 815.
Cent
Ark. A Eastern 1st 5s Issuable at $2f 000 per mile are guar. p. A i.;
also StephensvlHe No. A So. Texas 1st 5s and Paragould Southeastern 1st
5s ($5,000,000 auth. Issue; $511,000 issued, held by St Louis S. W. Dec. 31
1919).
V. 97, p. 366,1025,1824.
Pine Bluff Arkansas River Ry.
Ry. (leased) 1st 5s, $126,000 Issued, held by St. Louis S. W. Dec. 31 1919.
after
retire the first 5s, $600,000 to acquire $600,000
Jan. 1—Dec. 31
1920.
1920.
1919.
$7,052,499 $30,579,098 $20,661,161
948,525
4.464,954
1,544,334
Jan. 1—Mar. 31
EARNINGS.—
Gross
Net after taxes—.
1921.
$6,098,371
642,201
REPORT.—Report for cal. year 1919 in V. Ill, p. 1178:
Calendar Years—
1919.
1918.
1917.
Total oper. revenues
Operating
expenses
Net oper. revenues...
Net income, after taxes_
1916.
$20,661,163 $19,588,761 $17,309,656 $13,850,130
18,332,583
15,840,615
10,896,868
9,318,305
$2,328,579
$1,475,397
$3,748,146
$2,925,536
$6,412,789
$7,159,499
$4,531,825
$5,438,929
(Chairman),
Dave
H.
Morris,
Winslow
S.
N. Y. office, 501 Fifth Ava.—(V. 112, p. 653,
?"
Exchange Bldg., St. Louis.
2085.)
V.-P..
Lorenzo Semple, N. Y.; A. L. Shapleigh, St. Louis; Frederick Strauss. N. Y.;
J. W. Kendrick, Thomas D. Heed, Chicago; Frederick
H. Ecker, Jesse
Gould
Pierce, David H. Taylor and V. Everit Macy, New York; Murray Carleton,
J. M. Herbert and F. W. Green, St. Louis; C. W. Michel.
Office, Railway
RR—See page 141.
PAUL.—See Chicago Milwaukee A St. Paul,
s r. PAUL BRIDQE A TERMINAL RY.—Owns 2 31 miles of right-ofway from St. Paul terminals to stock yards at South 8t. Paul, wtlb re^eiv
Ing yard and other tracks; total, 7.94 miles.
Total owned and operated
37.44 miles.
V. 104, p. 953.
Compensation under Federal
control, $67,509 (contract signed Jan. 1 1919).
Bonds (auth. $500,000), see table above and V. 104, p. 953.
For year
ending Dec. 31 1920, gross earnings were $441,032; net after taxes, def.,
$43,314; other income (incl. Fed. comp.), $152,769; rentals, interest, Ac.,
$46,044; sur.. $63,411.
Pres., L. F. Swift; V.-P. A Gen. Mgr., T. E. Good;
Sec., A, A. McKechnie; Treas., J. M. Lindsay.
Office, South St. Paul,
under lease,
AlinO;-—-{V. 107, jp. 697:V *108, p. 4611.)
(THE> ST
PAOTTO N10 N*DE POT CO. —owns
with 9.54 miles of track and is building a new
was placed In
V. 110, p. 2293; V. 109, p. 1987; V. 107, p. 1838;
$11,000,000, the first unit of which
560, 2119;
V. 100,
<1
Union Passenger Station
station, Ac., to cost about
operation in April 1920.
V. 105, p. 2543, V. 104,
641.
Great Northern, Northern Pacific, Chlo. St. Paul Minn. A Omaha, Chic.
Mil. & St. Paul, Chic. Great Western, Chic. Burl. A Qulncy, Minn. St.
Paul & S. Ste. Marie. Minn. A St. Louis and
the Chlo. R. I. & Pacific,
own the entire capital stock equally.
In May 1917 the Wis. RR. Comm.
sanctioned an issue of $11,500,000 new bonds, out of $20,000,000 auth.,
guaranteed jointly by the nine proprietary companies.
V. 104, p. 2119.
2344; V. 105, p. 2543.
The $8,000,000 5-year 5% gold notes sold in Dec. 1918 (V. 107, p. 2477)
are endorsed with a joint and several guaranty of the payment of principal
and interest executed by all the nine companies using the terminal.
While
these notes are outstanding no security can be created or Issued ranking
ahead of the notes, the only underlying liens being the $500,000 bonds due
in 1930 and 1944.
The proceeds of this issue were to be used In part to
meet floating debt Incurred for acquisitions and construction work and in
part to provide for completion of construction program for 1919.—V» 107
p.
p
p.
1838.
1
The $1,500,000 3X-yr.
„UI
7% notes sold In July 1920 are guaranteed by
proceeds are to be used to complete
the nine railroads using the depot.
The
the new $10,000,000 terminal which is
p
being erected at St. Paul. V. Ill,
296.
Stock authorized, $1,000,000; outstanding, $932,400; par, $100.
Rentals
cover int. on bonds, Ac., and 4% on stock since May 1 1901.
From 1881
to
May 1901, 6% divs.
were
paid.
For year ended Dec. 31
1919: Gross,
J277,637; def. after taxes, $483,221; other income. $343,088 Charles Jensch.
eficit for year, $142,165.
rentals, $2,033;
Pres., E. Pennington; Sec.,
uiVp1027d$* 697,1838, 2188' 27441 V'109, P'1987; V*110, P'
*AU LAKE CITY., UNION DEPOT A RR .—Owns union depot and
at Salt Lake~ City,
opened Aug. 20 1910.
Stock, $200,000,
equally owned by Denver A Rio Grande and Western Pacific, which Jointly
guarantee bonds, prin. and Int.
Bonds are subject to call at 105 od and
after Nov. 1 1923.
See table above.
(—V 91, p. 523 V
107, p 1101,
SALT LAKE QARFIELD & WESTERN RY.—Salt Lake to Saltalr.
Beach, Utah, Ac., 15 miles.
V. 65, p. 824.
In Aug. 1919 electrification of
l*oe was completed, only electric power now used.
The 1st M. is limited
t« $600,000 issued, $300,000 paid off, $3,000 call at 104 and int. on any Int.
date in reverse of numerical order.
Remaining bonds are issuable for 80%
facilities
extensions, Ac., when net earnings are twice the interest charge.
Including the additional bonds.
The Salt Air Beach Co., an amusement
reeort, was purchased in 1919; property Is pledged on both the first and
second mortgages.
See particulars, V. 104, p. 560, 864; V. 109, p. 2074.
Stock, $750,000; controlled by the Pres., Joseph Nelson. Salt Lake City.
Year 1920, gross, $186,044; oper. income, $27,633; other income, $1,450;
deductions, $50,546; bal., def., $21,463.
Year 1919, gross, $150,208;
net, $66,406; deductions, $45,826; bal., sur.', $20,580.
See full particulars
in "Chronicle" of Nov. 29 1919—(V. 105, p. 608; V. 106, p. 2011.)
of cost of
'
bAN ANTONIO &
ARANSAS PASS RY—Owns from Kerrvilie to
Hous¬
309 miles; Kenedy to Corpus Christl. Tex., 88 m.; Yoakum to Waco,
171 miles; with branches, 156 miles; total, 729.29 miles.
Federal Compensation.—$441,111 annually during Govt, control (con¬
ton,
^
tract
signed)
BONDS.—Mortgage Is tor $21,600,000 (trustee, Central Trust Co.), and
Co., by endorsement on each bond, guarantees, unconditlonV
ally, "the punctual payment of the principal and Interest."
Bonds for
$2,700,000
eserved for extensions, limited to 100 miles at $27,000 per
the Sou. Pao.
mile
equipped.
Abstract of mtge., V. 50. p. 540.
In 1903-04 (under order of the Texas Railroad Commission)
canceled
$1,356,000 of the outstanding $18,900,000 bonds, reduced the stock.to
$1,000,000, and separated the management from the Southern Pacific.
V. 77. p. 96, 148, 401, 452, 2340; V. 78, p. 2600; V. 82, p. 453.
...
120
RAILWAY
STOCKS AND BONDS
[Vol. 112.
MAT, 1921.]
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
,
[For abbreviations, &c., see notes on page 6]
Miles
Date
Par
Amount
Rate
When
Last
Dividend
Road
Bonds
Valye
Outstanding
%
Payable
and
Maturity
San Francisco & San Joaquin
Valley—See Atchison T opeka A Sant a Fe
San Joaauln & Eastern—1st M gold red text
c*
61
1912
$1.00C
$1,0001,000
San Luis Southern Ry—First
mtge $1,000,000 gold..x
32
1909
1.00C
327.000
San Pedro Los Ang & Salt Lake RR—See Los
Ang eles A Salt L ake RR above
Santa Maria Val RR—1st M $200,000 g red 105 _c*
18
1911
162,000
1,000
Santa Fe Prescott & Phoenix—See Atchison Topeka & Santa Fe
Saranac & Lake Placid—See Chateau gay & Lake Plaold
Saratoga & Schenectady—Stock, $450,000 guar 7%_.
100
450,000
Sault Ste Marie Bridge—1st M gold s t
xo
\M
1887
437,000
1,000
Savannah & Atlanta Ry—Brlnson Ry lstMg_.Fxc*
111
1910
865.000
1,000
1st & Consol M $5,000,000 conv
1917
144
500 Ac
2.500,000
par call 105_Fr.c*
Pt W Ter Corp g bonds $2,000,000 not
1920
500 Ac
0U--x.Eq.c',t
1,000,000
Savannah Florida & Western—See Atlantic Coast Lin e RR
Sav & Statesboro—1st M $500,000 gu p & 1 (end) _xc*
33
1903
Savannah Union Station Co-—1st M $600,000 g—G.xr
Schenectady & Duanesburg—See Delaware A Hudson Go
Schuylkill & Juniata RR—-See Pennsylvania RR
Schuylkill & Lehigh—First M guar Reading Co _._kv
Schuylkill yalley Navigation & RR—Stock
First mtge gold subj to call (see text) —CoBa jcc&i
—
1902
1,000
49
'mm
mm
,m<m
mmm
mm
■
«a
2,483
3,047
m
m
m
•
1900
1909
1915
Text
'
217
66
1911
1912
1913
1914
mmmi
1916
mm'
1917
267
1899
1888
42
viz.
q
1,000 Ac ql2775,000
1,000 rl9,350.000
1,000 Ac s27.777.500
25.000,000
1,000
1,000,000
250
mm
„
„
mmmm mm
$27,00 0,000;
SAN ANTONIO BELT
Sc TERMINAL RY.—Organized May 2 19121
capital stock, all owned by Missouri Kansas A Texas Ry..
to own freight and
passenger terminals at San Antonio, Tex.
See report of
Mo. Kan. A Tex. Ry. Co. in V. 101,
p. 1816.
Property leased to the re¬
ceiver of the M. K. A T. Ry. Co. of Texas at a rental incl. in their
operating
charges, which covers the int. on the $1,850,000 6% mtge. notes of 1919.
(V. 108, p. 1061; V. 102, p. 1718; V. 105, p. 710.)
The principal and inter¬
est has also been guaranteed by receivers of M. K. A
T. Ry. and M. K. A
T. of Texas under order of the Court.
The notes are subject to call during
the first year at 102 and
int.; second year at 101H and int.; third year at
101; fourth year at 100H and int. Mortgage trustee, Mercantile Trust
Co.,
St. Louis. Pres., O. E. Schaff.—(V.
108, p. 1061,1391.)
with $175,000
SAN ANTONIO UVALDE & GULF RR.—Owns San Antonlo, TexVI' u!
Crystal City, 144.6 miles; Uvalde Jet. to Carrizo Springs, 52.90 m.;
Pleasanton Jet. to Corpus Christ!, 117.50 m.;
total,
315
miles
The
Bankers' Trust Co. of St. Louis owned all or
nearly all the bonds, and
these, following judicial sale of same, were acquired by Leon W. Quick,
receiver of the trust company.
A. R. Ponder of San Antonio, Texas, is
receiver of the road.
V. 99, p. 468; V. 100. p. 1259.
On April 1 1917
the $163,000 receivers' certificates were retired and new
issuejof $250,000
authorized. $225,000 sold, $25,000 still with
Treasurer.—(V. 107,
p.
1005, 1194J
now
■
DIEQO
Oct.
MAS Mar 1 1952
&
J Dec 11939
Secur Tr A Sav Bk, Los A
Internat Tr Co, Denver
MAS Sept 1 1931
Sec Tr A Sav Bk, Los An
7
« g
J A J15 Jan 15 '21
A
J July 1 1937
MAN May 1 1935
J & J 15 May 11935
8 g
A
&
O Oct
1 1950
5g
J
A
A
J Jan
A
O Apr
11953
11952
Chath Bk A Tr, Savannah
Guaranty Trust Go.N Y.
May 1 1948
Reading Terminal, Phlla
3^ Troy, N Y
J
g g
5 g
4 g
Bank
i
1
of
Montreal, N
Y
May 1921 coup in default
Franklin Trust Co, N Y
r
See text
:
A
4 g
7
O Apr
A
A
1 1950
24
Broad
1 1959
S Sept 1 1945
A Oct
1 1949
24
Broad
M&S15
g
do
O Oct
&
F
Up to 5
A
A
M
I g
6 g
1
do
New
York
New
St,
St,
York
Guaranty Trust Oo, N Y
24 Broad St. N Y
Sept 15 1923
Guaranty Trust Oo, N Y
S May 1 1933
24 Broad St, New York
A
J Jan
1 1934
do
do
A A 15 Aug 1921
do
do
A J15 July '21-July '22 24
Broad Street. N
Y
A A15 Aug '21-Aug *23
do
de
A
J July "21-July *24 Glrard Trust Co, Phlla
A
do
do
July 21-July *26
A
¥
8
5
64*
I8
A
Dec '21-Dec *27 Com Tr Co, Phlla
Jan
1 1949
Blair A Co, New York
Nov 1 1928
Merc Tr A Dep Co, Bait
A
A
$33,911,000 s$16,230 .500; bon ds proprietary
c os,
$2,950,000
STOCK, Ac.—In July 1917, to purchase the Savannah A Northwestern
Ry., the company Increased its authorized capital stock from $500,000 to
$2,250,000, or which $1,250,000 is to be 7% pref. stock cumulative after
Oct. 1 1920. and the remaining $1,000,000 will be common stock.
BONDS.—In the merger of July 1917, the old securities were retired,
except the $865,000 Brinson Ry. 5s and $46,198 equipment trusts, and
there was created a new $5,000,000 First A Consol.
Mtge. to the Franklin
Trait Oo. of N. Y., as trustee, of which $2,500,000 issued. Additional bonds
can be issued for only 85% of the cost of
extensions, Ac., when net earnings
are twice
the total interest charge as increased.
See V. 104, p. 2642.
May 1921 coupon was defaulted and protective committee form ed;V. 112, p.
1979.
Port Wentworth Term, bonds (not guaranteed), V. Ill, p. 1370. The
7% notes due Oct. 1 1920 were partially paid off and the balance was ex¬
tended for ninety days, at which time they were also to be paid off.
In Sept. 1919 was authorized to issue $145,125 of
equipment notes to
purchase 3 locomotives and one locomotive crane. V. 109, p. 1180.
EARNINGS.—For cal. year 1919: Gross, $818,550; net, $67,686; fixed
charges, $290,270; deficit for year, $222,585.
Chairman, James Imbrie; Pres., Frank S. Gannon, New York; V.-Pres.
John Heard Hunter; V.-Pres., O. E. Gay Jr.; Sec., R. M. Hitch; Treas.
William Morris Imbrie Jr.
Office, Savannah, Ga.—(V. 112,
p.
1025,1979.)
SAVANNAH & STATESBORO RY.—Owns Cuyler to Statesboro, Ga.,
32.6 m.; trackage, Cuyler to Savannah, 20 m.
Stock, $200,000, all outs'g.
Has traffic agreement with Seaboard Air Line, which guarantees bonds
endorsement,
by
principal and interest: Savannah Trust Co..
695.
Form of guaranty, V. 81, p. 614.
V. 76, p. 1303; V. 77, p.
and bills payable Dec. 31
trustee
Loans
1919, $30,936.
&
ARIZONA RY.—The construction from San Diego,
Cal., via the Imperial Valley to Seeley, Cal., connecting there with So. Pac.
Co. for El Centro, El Paso and the East, about 148 miles, was
completed
in Nov. 1919. V. 109, p. 1987. In 1916 the Southern Pacific
Co. agreed to
join with John D. Spreckels in completing road.
In Dec. 1919 authorized
to issue bonds and
pref. stock in payment for moneys advanced for construc¬
tion. V. 106, p. 1127; V. 107,
p. 604, 1194; V. 110, p. 79.
Description ©f
line, V. 108, p. 172.
In Dec. 1917 obtained
authority to purchase physical properties of the
San Diego A Southeastern Ry.
In March 1919 isued $1,500,000 of its own
bonds to make payment therefor.
The San Diego A S. E. Ry. owns some
73 miles of road in and about San Diego, Calif.
V. 105, p. 2366; V. 106, p.
1231, 2758; V. 108, p. 80.
In
„
mm
1,000
1,000
1,000
1,000
1,000
REPORT.—For cal. year 1920, gross, $6,042,949; net, after
taxes, def.,
$298,411; Fed. comp., $632,373; other income, $193,309; deductions, $1,232,412; bal., def., 1705,141.
Pres., W. H. Mclntyre, N. Y.; Aud., J. W. Terry, San Antonio, Tex.,
Treas., Haden F. Smith.—(V. 110, p. 466, 1416.)
SAN
Payable
6 g
5.910,000
755,000
75,000
309,000
475,000
504,000
280,000
780,000
3.000,000
100,000
1,000
1,000
1904
mmm
do "S" due $60,000 s a
*
Carolina Cent 1st cons M gold
guarp A 1 (end) _.Fz
Durham & Northern first mtge $150,000...MeBaz
100
;
1903
...
do
Additional amounts outstanding as collateral,
1920
—
do g Ser Q due $72,000 s-a (V98,pl695)
do "B" due $25,000 and $26,000 fl-a
QP.c*
q r s
1909
"mrnrn
do
are
J
«g
600,000
576,050
37,019,400
23.894.100
37,300
50
100
100
-mm-m
Florida West Shore first mortgage gold
_...x
Equipment mtg gSer N due $75,000 s-a red 102 M-X
do
do g Ser 0due$103,000s-ared 102H.X
do
do g Ser P due $95,000 s-a
Eqx
Where Interest and
Dividends
-
"
Adjust M(5% cumint) $25.000,000red par.FBa.xc*
Secured gold notes call 100H
c*Q
Divisional Bonds and Equipment Trusts.
Atlanta-Blrm Division 1st M $10,000,000-.CoI.xc*
Places
5 g
185,000
600,000
1898
mm
1,000
1.000AC
•
Seaboard Air Line Ry—Com stock $40,041,000
Pref 4-2% (non-cum) and partlc. $25.000,000
Pref stock 6% non-cum & participating $2,280,000.
Refunding mtge $125,000,000 red 105
N.xc*Ar*
1st & Cons M $300,000,000 serA
calU07M 0.c*Ar»
121
1918 the
Calif.
RR.
Comm.
authorized execution
of
a
mtge.
securing $12,000,000 6% bonds, due July 1 1957, and also the issue of
$7,289,088 of the bonds.
In June 1920 the California RR. Commission
authorized the issuance of $1,000,000 bonds to pay loan advanced by
Southern Pacific RR.
V. 109, p. 1987: V. 108, p. 1275; V. 107, p. 1670.;
Stock auth., $8,000,000; issued, $7,826,800.
Income account year ended
Dec. 31 1920, gross, $795,345; net
loss, $234,750; other income, $85,202; de¬
ductions, $787,165; def. for year, $956,713.
Pres., John D. Spreckels,
V.-Pres., R. C. Gills; Sec., L. J. Masson; Treas., W. G. Daniels; Gen. Mi
D. W. Pontius.
Office, Spreckels Bldg., San Diego.—(V. 110, p
V.lll.p. 190.)
SAN JOAQUIN &
EASTERN RR.—EI Prado, Cal., on the Southern
Pacific, to Cascada, on Big Creek, Cal., 55.9 miles; sidings,
5.8 miles.
Stock, $1,000,000, all owned by South. Cal. Edison Co.; par $100.
Bonds
are redeemable as a whole at
par and Int. on 60 days' notice or by lot for a
sinking fund of 1% of outstanding bonds from Mar. 1 1917 to Mar. 1 1951.
Chairman, H. E. Huntington; Pres., J. B. Miller; Treas., W. L. Percey;
Sec., O. V. Showers; Oompt., A. N. Kemp.
Office, Los Angeles, Cal.—
(V. 99. p. 1836.
SAN LUIS SOUTHERN R Y.—Owns Blanca, Colo., on Denver A Bio
on New Mexico-Colorado State line, 31.53 m.
Com.
stock, $750,000; pref., $250,000.
Bonds ($1,000,000) outstanding, $327,000.
International Trust Co., Denver, trustee.
Cal. year 1920, groas.
Grande to Jaroso,
$31,217; net, after taxes, $1,275; int., Ac., $17,118; bal., def., $15,844;
Pres., Chas. E. Gibson: Sec., H. Alexander Smith; Treas., Chas. A. Robin¬
Office, San Acacio, Colo.
son.
SANTA MARIA VALLEY RRBettaravta to Roadamite, OaL, 18 m.;
Guadalupe to Bettaravia, 5 m.; total, 23 miles.
Has traffic arrange¬
Pacific Co., which owns one-half of bonds.
V. 101,
EARNINGS.—For year ending Dec. 31 1920, gross, $85,389; oper. def.,
$2,711; def., after charges, $20,395.
Pres. & Treas., J. Randolph Ander¬
Savannah; Sec., Thomas F. Walsh.
Office, Statesboro, Ga.—(V. 93,
P- 1464.)
son,
.
SAVANNAH UNION STATION CO.—Owns union pass, station and termlnal at Savannah, Ga., with 8 m. of track.
Leased oy the Southern Ry.
3av. Fla. A West, (now Atl. Coast Line RR.) and Seaboard A. L. Ry.
wh'oh own the $300,000 stock,the rental providing for interest and
s.f, on
bonds, maintenance, &o.
Pres., J. R. Kenly; Treas., Savannah Tr. Co.
Sec., W. V. Davis.—(V. 71, p. 343; V. 74, p. 1039, 1253.)
SCHUYLKILL & LEHIGH RR.—Owns from High's Farm, near Reading,
Pa., to Slatington, Pa., 48.96 m.; total track, 57.93 m. In 188S leased to
Phila. & Read, for 999 years. Rental, $27,000 yearly and taxes. Reading
Oo. owns stock ($600,000), of which $598,000 under its gen. mtge. of 1897.
SCHUYLKILL VALLEY NAVIGATION & RR.—Port Carbon to Reevesdale, Pa., 17.50 m.; 2d track, 5.26m.; total track, 29.70 m.
Leased July 25
1861 for 999 years to Phila. A Read. RR.; assumed by P. A R. Ry. Dec. 1
1896.
Rental, $29,450, which has paid 5%
SEABOARD AIR
from Richmond
to
on
stock (JAJ) and State taxes.
LINEIRY.—(See Map.)—1This System Includes
Atlanta,
Birmingham,
Charleston
and
a
Tampa.
line
On
Oct. 31 1920 was operating 3,563 miles of road, viz.
Mileage
owned
3,4951Leased—Meldrim to Lyons, Ga.„58
Less leased to others
Also
owns a
141 Trackage—To Atlanta, Ac
82
1-6 Interest in the Rlohmond-Washington Co., controlling the
road from Richmond.
Va., So Washington, D. 0. (V. 73,
843), and under
traffic agreement with the Penn. RR. maintains through car service between
N. Y., Phlla., Washington and the South. In Jan. 1907 the entire stook of
the Macon Dublin A Savannah, Maoon to Vidalla, Ga., 93 m., was acquired
or secured under option, the $1,529,000 5% bonds
($1,840,000 auth. Issue)
being guar., prln. and Int.
V. 84, p. 104, 451.
Also controls the Bait.
p.
Steam Packet Co.
Owns majority stock of Chesterfield A Lancaster Ry., 38 m.
V. 89, p. 43.
In July 1912 acquired all the stook of Raleigh A Charleston RR., extend¬
ing from Lumberton, N. 0., to Marlon, S. 0.. 43 miles, and, through stook
ownership, a 12-m. extension known as the Marion A Southern RR.; also
of the Tampa Northern RR., extending from Tampa, Fla., to Brookvllle.
58 miles.
V. 94 .p. 49; V.
stock of Tampa A
leases
burg.
132.
Stock. $300,000; par. $100.
Bonds, $200,000 1st 20-year 6s,
sinking fund 6% gross earnings yearly; redeemable after 1915 at 105.
For year ended Dec. 31 1919, gross, $93,603; net, after taxes (incl. war
taxes), $18,183; int., rentals, Ac., $14,865; bal., sur., $3,318.
Pres., C. C.
Magenheimer; V.-P., E. J. Gates; Sec., E. J. Miley, Los Angeles, Cal.;
Auditor, J. M. Davis, Santa Maria, Cal.—(V. 101, p. 132.)
95. p. 906.
Also guarantees $750,000 bonds and
Gulf Coast RR., Tampa, Fla., to St. Peters¬
See caption "Tampa Northern RR."
owns
ment with Southern
was
p.
SARATOGA & SCHENECTADY
Saratoga to Schenectady 21.65 m.
RR.— (.See Map Del. & Hudson.)Leased in perpetuity in 1861 to Rens.
A Saratoga and lease assigned to Del.
Rental. $31,750 per year.
—(V. 106 p. 924.) >
A Hudson,
Stock, $450,000.
by which It is operated.
Divs., 7% yrly. (J, A J. 15).
SAULT STE. MARIE BRIDGE.—Owns Sault Ste Marie Bridge, includ¬
ing 6,421 feet of main track.
The Can. Pao., Dul. So Shore A Atl. and
Minn. St. P. A S. Ste. Marie RR. cos. agree to pay for me of bridge an
amount equal to operating expenses and interest and s. f. on debt
Bond*
authorized, $1,000,000; sinking fund, $5,500 yearly, drawn at 110 if not
purchasable at a lower figure; outstanding in hands of public (April 1921),
$437,000; in sinking fund, $463,000.
Stock, $1,000,000.
IPSAVANNAH & ATLANTA RY.—Owns and operates 144.7 miles of
railroad, extending from Camak, Ga., on Georgia RR., to Savannah.
The Port Wentworth terminal, which is owned by the Savannah A Atlanta
By- Co., comprises about 3,000
of land lying along the Savannah River
on tidewater, 6 miles from Savannah.
On this property are located a lumber
company, sugar refinery, shipbuilding concern, pulp mill, barrel factory, Ac.
In March 1921 Charles E. Gay and Thomas B. Felder were appointed
receivers for both companies.
V. 112, p. 1025.
acres
V. 96, p.
1425.
VOTING TRUST.—The large block of stock purchased by S. Davles
Warfield and associates In 1912, and since that time held In a voting trust,
In 1916 placed in a voting trust expiring June 12 1922, unless sooner
terminated by the trustees, but holders of
from May 12 to June 12 1917.
voting trust agreement.
listed $14,240,300 com.
v. t, c. could withdraw their stock
Any stockholder may become a party to ths
The N. Y. Stock Exchange on Sept. 7 1917 had
and $10,266,100 pref. voting trust certificates.
Trust Oo. of Baltimore is depositary.
Trustees: S. Davles
Warfield, Chairman, Baltimore, Md.; Samuel L. Fuller, New York; Robert
Continental
F. Maddox, Atlanta, Ga.; Charles H. Sabin, New York; O. Sidney Shepard,
New Haven, Oswego County, N. Y.; Frank A. Vanderlip, New York;
Clarence W. Watson, Fairmont, W. Va.; George W. Watts, Durham, N. O.,
and Albert H. Wiggin, New York.
V. 102, p. 1988.
MERGER, Ac.—In 1915 the company provided for present and future
requirements through a financial plan (V. 101, D. 528.1189.1273).
CAPITAL
STOCK
In Treas.
Held by Pub.
$3,021,600 $37,019,400
Stock $27,280,000, issued [without prefer¬
of one part over another] as follows:
Common Stock (par $100)
Preferred
ence
(a) As 6% non-cumulative preferred
(b) As 4-2% non-cum. pref., 1. e., entitled
2,235,800
conversion below stated)..
-
Conversion Right.---To do away with the
mentioned,
the option
is given
37.300
to non-
pref. divs. at 4% p. a., and after 4% on
the common, to an additional 2% (with right of
cum.
,
1,105.900
23.894.100
division of dividend right above
to holders of all pref. stock exchanged
"V
Great Falls'
r,L^%'0
*0*
-ewiston
I?
m£^
'
o
^TxT :a8lr
YY
oscow
"
/Browns
c'/9sV
IdatihaJ
YAQU.IN
X
' ""Sevtue-'SU ver
/
T
Stanton
Glendive,
seihart^H00
O
4 x
v
Bow/'.^^^anhaaan
y
A
TTI
11
O
N"
*^°\Cato vew
ELENA^—/Harlowton
-4&d
England bis»ARGkC~
Hun tie
^oHr-/
<sj>
^Sboroj5eW ^Ue
^ kumphr^
O /2V A^BoPL Ket<*»*
G
V
B«;Odeil
M XlRK
«S*
A^'r^teerad r^~^—
kCPOrt
yn,VJpfritte
Sv £%««'°SEBen<i
My*tl
Malheur
.fe..
Lcke
I
X*11 CitJ
X
\ -JfoV^
Tw«is
>brig'ham
Echo
X)
hazen
A *£
FALLON
it
_
,
Austin
^tf-VStuckey
Eur"eka
/tl^nr.
I
UN.
N A
"
Laramie**5'
Laramiet^V.
Encampment-/
I
\
'
"—
I
-y^
Ely
davehpo^
\
-PJlanitou
\W\f
guadalupeSV
„
BETTER A
VYX.»<1
RtlRpIft*
SANTA B
V»\
J[
Gallinap
&$■
>v»
«>o"
-
arbab.^5?^*
SANTA
/sv
.v
1
so,
v-t.oY .cT ^ r:.xC v
^sHolbrooli
WihS
J
•^c
Vaughn
V*"C?Y <?/
^
SOUTHERN PACIFIC COMPANYi
4^
„
-c^XzWfl,
lo^uvWCll
ClovitS
«jc
»
1
s"
^Roswell
Lubbock.
02
'
'vBii-t-zaU
RACOZAR!
a
\
(Terrazas
nVsrtadG
Southern Pacil'iC System, SinQle track
Southern Pacific System,
double track
<
o
f
0:R1?A
N
Cc"v«Ct°
\
As*,-tarB'?'
Jf.UaniUo
MOSILLO
Southern Pacific System, lines under construction
Steamship Lines
svjjjNION
Lines
o
■<4iL
fAatJALtNA^^
.mi
„
y.
*-,
San b aun
■
/
_
INDEX
iTf1
.Bodge
4T
PROPRIETARY COMPANIES
i
Lari
SOU
Ol
i
I
(Islet
Capitan
.
I
^^^nyinoi^/^e^^L
*
-^-yTucumcuri,
*/Carri*oxo
1
c;
Las Vegas
Torrance
i
opida
iSkL I s
Ejutla"
A
Dalhjart
FEa
('■»•
mmmmmmmmmm
K
J
i
\ ^
LOS
mmmmmmmmmmmmmm
1
I
.i'renchA
i
1
Wme&^
r
?Xy
L
Tt.fi.-it/ '
|*ftR,CQPA.
ulUJa|fc tou^f> V
Lamiir~7
/Trlnldart^C^
°'FarmingtW' BoViito
;
\l
01.6
SHAita
fc-V
hidalgo
ORENOAIN
J
^-MaCyaliby-"
,—Xwalsenburg
/IT
Durnngo
Thomas
LUISxOBIo.Ron
w
artoj,
J?r—pacJ^
Springs
LtvJuuta
AlaruoSaJl
$
Zf
PA8oXpaL£SCo
B
lX
Garden\^City
l\U0%
8AN
Toe
o
Winona
/\
Calien te
N.^Creede
SANTA
,
%££$»*>&&
w
|im./
Pioche
V
n) /
Matahuela.
«rWfeCa»rI
l)\ u
Pueblo
Laws
-
Limon
.
> i\
tV
olorado
^5™lVir ©old&eld
J
/
^agiSAS-
J
Saint Frauct
Kioche
"y/
Salinas
4»
Skton
°llano GjFatnle.-''
.„-,A vlr?
o
\
a
oNOPAH JC.
VillagrLn
/
T„sgS<
c!^Y<2acate4S (sa£
vVXtT^--SZACATECAsXv- C
M^iCS
Hyannis
t§rlin^
,
;
/Watson
Jose
J|
ulesburs
--rm
„
\
1
'(Y<pE o N
(
I
Sidney
/ Gleason
CouIbmmu/ Pnv^» tft»
^Stekimboat Springs)
Colli n?
<
iN U
>1
HSf\ DUBANGC^
\r//-—/ \r
NorthpRjrPv^JT
qX4"
°
Torreoa]
Tepehuanes
O
^
I Lynndylu
^
Veteran
<^V
\ °A^|
Provo
Silver
CHORCMIU.
"
City
.
:k Sprmsrs
prings
LAKE crrv
ark
j^V^i
4rc^& City <
A
•
LT
V^00^
fPAC.
.
O^eoV^c
■>
ELDORAC
n
Superior
*
£
^fVotftBAN -
Rapid City
Le<
n^6^'
\
Reafa
Descubridora
°°E10ro
\
sN°
ntonio
„' Logau-^-X; G
"M^Monplo
-—(Vjy—^Ainfre
1
V
o
akota"Jc.
Iogden>
L°^
_
Lander
iljOntpelier
-Cnxrie/
\
>5i
^
Topoloba:
D.AL KTTT A
Get>0 o-jf Kirby.
MeCa
Maiad
y%o§''3
V
II
White wood
,
.
-r
Newell
Aladdin'
—'
BuVley
Pogerson
^4,
'CMS:
t
_
Sheridan
IT
j-
o-
Faith0_
O U
T
,v
TV
/
H U l)L A
Gu^vtro Cienegas
Parnvf'
McLaughlin
nt
T*nia a,
JM^™"TfO A
-
■
El
r/J -§ ^arA°body
°V/idahil Falls
<
h A\H U A /
?
Isabel
Sea
y~~H
'orsyth
Powderrille0
,
^"chihuahua 7
\LaJunta__
\C
;SSu
A* nJV^wD J£t&G^<4
Miles Git
V
endleton
//
SALEM
V
Antrim
/
one
Lines
one
Lines
o(ie
half owned, gilder
£i..
track
half owned, double track
half owned, single
io
•
Chivalito
^Gratindod
"O
Jti
S*%*
J
,
■//. JO
^<?/0^^T3(4ICM|
'
Marquez
AITU
6-»»of• 4^
,LA»3ARRANC»
—/
VL
*-
t/lv
$-&!!!£
■
La Junt:
construction
SGfl; U L
Muzquiz'
Maria
c5->^
^
Vc
A
Sanchez
ufflius
a
F
OF
M
E X
I
x^;
MAY, 1921.]
RAILWAY
RAILROAD
[For abbreviations,
COMPANIES
&c.,
see
notes
on
STOCKS AND BONDS
Wiles
Date
Par
Amount
Road
Bonds
Value
Outstanding
6]
page
Rate
123
Whet,
Last
Dividend
Payable
%
and
Maturity
Places
Where Interest ane
Dividends are Payable
Seaboard Air Line Ry
(Concluded)—
Florida Cent fic Penin 1st M ext 1918 at 6% g.Ce.zc*
Second M (1st on ext. 92 m) $5,226 p m g-Mp.zc*
Consol mtge $7,800,000 ($10,000 p m) gold_u.zo*
South Bound 1st M gold interest rental_MeBa.*o*
Raleigh A Augusta Air Line 1st M
_z
Georgia A Ala 1st M cons $6,185,000 gold_BBa.xc*
575
1888
666
1890
1893
1891
780
136
107
1886
1895
1898
1889
1897
1886
1882
1890
400
Ga A Ala Term Co 1st M callable at 110 guar p A 1.x
Georgia Carolina A North 1st M gold guar.MeBa.zc*
■
■
•
^
^
268
Raleigh & Gaston first mortgage gold
MeBa.zc
Seaboard fic Roanoke first mortgage._MeBa.zc*fifcr
$1,000
1.000
1.000
1.000
-
81
$3,000,000
346.000
4,372,000
2.033.000
1.000,000
6,085.000
1,000,000
5,360.000
1.200,000
2.500,000
1.000,000
1,000,000
869,450
1,389,000
164,000
250,000
1.000
1.000
"
LOOO
1.000
1,000
1.000
1.000
Sbam Sunb fic Lewisb— IstM gu p&i ext 1912kvo*&r
Second mortgage gold
kvc
32
Shamokin Valley fit Pottsvllle—Stock guar by Nor Cen
Sharon—Stock ($1,600,000) guar by rental text...P
Sharon first mtge gold (Sharon toPymat, fiso) --F-x
New Castle AShen.V.—First M extended int guar.x
40
50
33
50
Sbreveport Bridge fit Terminal—See St Louis Southwe
32
16
i§89
17
1887
1.000
1.000
6 K
J
A
5g
5g
J
A
J Jan
1 1930
do
do
J
A
J Jan
1 1943
do
do
5
J
July 1 1923
A
A
6
J
A
O Apr
J Jan
1 1941
1 1926
5 g
J
A
J Oct
5 g
J
A
D Dec
I 1945
1 1948
5 g
5 g
5
J
A
J July 1 1929
J
A
J Jan
24
»
J
A
J
M
A
N
6 g
6
J
A
F
A
5X
4X
g J
July 1 1926
July 1 1925
Reading Terminal, Phila
do
do
A
A
J Jan
1 1937
do
do
stern
Sierra Railway (of California)—First mortgage gold_z
76
Second mortgage $860,000 gold
76
a
Yosemlte Short Line 1st M $875,000 gold guar ...a
Silver Spring Ocala & Qulf—See Atlantio Coast Line RR
Somerset Railway—See Maine Central RR
South Carolina fit (la—See Southern Ry Carolina Dlv.
South Carolina Pacific—Pref stock 6% cum
11
South Carolina Western—See Seaboard Air Line..
1897
1904
1905
1.000
1.000
100
100
104.600
6
J
AL
J Jan
1921
South Georgia—Mortgage $250,000 gold
..a
South Pacific Coast—1st M gold gu (s (1912)
..F.zo
South fit North Alabama—See Louisville & Nashvlll
82
1903
1.000
A
J Jan
1 1923
1887
1,000
5 g
4 g
J
97
199,000
4,273.000
J
A
J July 1 1937
4.64
1901
1,000
3.000.000
4 g
M
A
N Nov 1 1951
1.156.000
757.000
A 12 A O Apr 12 1937
M 15 A S Sept 15 1944
6 g
5 g
See text
4X
g M
Crocker
.
100 302,024,905
"""
1899
1909
1909
500
AC
6
34,100,500
53,801,000
227,000
1,000 &o
1,000
r-.-;
Q—J
4 g
J
A
4 g
M
-
100
Ac
24,910,000
4X g J
A
4g
1914
m -
500
fitc
45,539.000
5 g
Bank
do
do
do
3% Wilmington. N O
New
York
So Pao,
&
Quitman,Ga
165 B'way, N Y
Bankers
Trust
Co,
N
Y
July 1 1921 IX Checks mailed
D Aug 1 1949
165 Broadway. NewYork
A
1910
.
National
do
S Sept 1 1945
A
e.
Southern Illinois fic Mo Br—1st M $3,000,000 g .Ba.xo*
Southern Indiana—See Chic Terre H A Southeastern
Southern Pacific Co—Stock ($394.451.800 auth.)
Coll trust mtge gold subject to call par._Un.xo" Ar
Oonv bonds $82,000,000 gold redeem text. .xo*Ar*
Gold bds $100,000 000 call 105 since July '12
..a.x
S. Fr.Term, 1st M. g call 105 since *15Usnixc* Ar*
Oonv bonds $55,000,000 g call text
_yc*A;r*
York
3% Broad St Station, Phila
S Sept 1920 2)4 % Sharon, Pa
D Jan 1 1937
Farmers L & Tr Co. N Y
A
g J
New
do
do
24 Broad St, N Y; & Bait
Continental Tr Co, Bait
24 Broad St, New York
J July 1 1925
A Feb
1921
5 in'20 M
St.
Continental Tr Co, Bait
Continental Tr Go, Bait
24 Broad St. New York
1 1947
4
Broad
S June 1 1929
A
J
Ac
o Apr 1 1950
D June 11934
do
J July 1 1929
A
do
do
New
do
York,
London,
ficc
"VV"--
for the present outstanding pref. stock from July 1 1916 and until
July 1
1921:
(1) To convert each share of the said pref. stock into (a) 2-3 of »
•hare of pref. stock entitled to 6% straight non-cumulative dividend* bat
calling for the same amount of cash required to pay 4% dividend an the
converted stock, and (ft) 13 of a share of common stock: or (2) to convert
each share of pref. stock entitled to 4%
share of
and then 2%
dividends into
1919.
Interest on funded debt
Other interest, &c__.
Int.
on
adjust, income bonds
Allotment of discount
on
1918.
$386 ■611
$579,312
$1,867,960
...
$3,658,391
1917.
(5%).-.
securities.
_.
$4,591,358
933,831
1,250,000
133,426
on*
pref. stock limited to 5% non-cumulative dividends, thus glvlDg
Balance,
in
one-half the present right to 2% additional dividend.
V. 101. D- 1273.
BONDS.—The new First and Oonsol. Mtge. to the Guaranty Trust
Co. of N. Y
as
trustee secures an auth
Issue of $300,000,000
*
U. S.
surplus
....
RR. Administrat
$720,641
on.
bonds, of
variable interest rates and maturities.
This mortgage Is a first lien on the
436 miles of main-line track between Hamlet and Savannah, via Charleston,
Lanes and Georgetown, S C.. and on the lines running from McBee, S.
O.,
located on the Hamlet-Columbia Hoe. to Florence
Poston
Sumter and
Timirjonsville, 8. C
The mortgage has no direct lien on the former Sea¬
board Air Line Ry.'s property, but there are pledged under It a
majority
DIRECTORS.~8
Davles Warfield (Chairman), J. Wm. Middendorf
Baltimore; Fergus Reid, M. J. Caples and C. R. Capps, Norfolk, Va,;
Charles H. Sabin, Albert H. Wiggin, Pieipont V. Davis, S. L. Fuller,
James A. Blair, Franklin Q. Brown L. F. Loree, Walter T. Rosen, B. F.
Yoakum, R. C. Ream and F. N. B. Close, Robert L. Nutt, New York;
($36,661,000 out of $56.011.000 outstanding) of the Refunding Mtge. bonds,
which gives It a collateral lien on
3,057 miles; and
also all the stock of
ward, Birmingham, Ala.: W. R.
Bonsai, Charleston, S. O.; Geo. W.
Watts, Durham, N. O.; Jas. C. Colgate, Bennington, Vt.
Pres.. S. Davies Warfield; V.-P., C. R. Capps, M. J. Caples, W. L. Seddon; Treas. & Sec., R. L. Nutt.
General office, Baltimore, Md.; N. Y
office, 24 Broad St.—(V. 112, p. 258, 933, 1025, 1284, 1519.)
,
Raleigh & Charleston
RR. Co., Kissimmee River Ry., Tampa & Gulf
Coast RR., East & West Coast Ry., and Tampa Northern RR. Co., and
one-third of the outstanding stock of Tampa Union Station Co.. and all
Refunding bonds hereafter issued will be pledged thereunder.
Dec. 1 1920 $27,777,500 First & Consol. Mtge. 6s (Series A) were out¬
standing arid a further $16,230,500 were pledged or in treasury; $68,787,000
reserved for refunding an equal amount of Seaboard Refunding bonds
and various underlying bonds; the rest of said issue are to be reserved for
were
betterments, improvements, additions and extensions, refunding or pay¬
after-acquired property and retirement of equipment obli¬
gations, under restrictions.
V. 101, p. 528, 1189, 1974; V. 103, p. 1707,
1981, 2156.
Of the First Mtge. 4s of 1900 ($75,000,000). $12,775,000 are In hand*
of
public and $27,000,000 are pledged as collateral under the Ref. mtge. of
1909.
Of the $12,775,000, $12,433,000 are stamped subject to call at par
on any interest day.
V. 89, p. 666.
>
The $125,000,000 Refunding Mortgage of 1909 provided for the issuing
of bonds as follows:
(a) To retire underlying and divisional bonds, except
some $10,728,000 maturing prior to 1959 and certain short-term obligations
and equip, obligations not over $72,076,000; sundry improvements, doubletracking, Ac., $8,424,000; further Improvements and additions at not over
$2,750,000 yearly, $44,500,000.
As part security for this mortgage are
pledged $27,000,000 1st M. 4s of 1900. On April 1 1919 $36,661,000 of the
$56,011,000 Ref. Mtge. bonds outstanding had been pledged under the new
First fit Consol. Mtge., as will also all further Ref. Mtge. bonds.
V. 92.
p. 189, 1110, 1179, 1244; V. 93. p. 470, 956The Adjustment mortgage
bonds (Issue limited to $25,000,000)
are
ertitled to cumulative Interest at 5%, to be, payable as earned in Install¬
ments
of
1 \i%
or multiples thereof,
and are redeemable at par and
a
unpaid cumulative Interest on any Interest date, their lien to be immedi¬
acy subsequent to the
refunding bonds.
No dividends to be paid on
the stock until any arrears of Interest on the bonds are paid In full.—V.
90, p
1171, 1297, 1555; V. 91, p. 1575.
Interest on adlustment bonds,
Aug. 1 1910; 1911 to Feb. 1921, Inclusive, 5% yearly (F. Ac A ).
ment of liens on
Atlant
a
& Birmingham division 4s of 1903 ($10,000,000 authorized issue)
V. 76, p. 1302; V. 77, p. 647; V. 81. p. 1850.
Equip. Tr. "R." V. 105;
2007; "8," V. 105. p. 2273.
,■
Florida Central & Peninsular 1st M. 5s, due 1918, were extended to July 1
1923, with Int. at 6% p. a. V. 106, p. 2758; V. 107, p. 1920.
see
p.
NOTES.—The $4,000,000 6% notes due Sept. 15 1919 were extended
Sept. 15 1920 at 7% (the holders receiving $9 50 in cash at extension)
109, p.,1081.
In Aug. 1920 the company offered to each holder of a
$1,000 note $750 in cash, the balance, $250, to be extended to Sept. 10
to
V.
1923 at 7%.
V.
A" 6s of 1945.
Ill, p. 991.
Secured by $1,500,000 1st Consol.
Series
GUARANTIES.—On Dec. 31 1919 the company was liable a* guarantor
of the Athens Terminal Co. 1st M.. $100,000; Birmingham Term. Co. 1st
M.
(Seaboard proportion, 1-6), $1,940,000; Jacksonville Term. Co. 1st M
(Seaboard proportion, 1-3), $400,000. and 1st & Gen. Mtge., 1-4 of $2,100,000; Macon Dublin fit Savannah RR. 1st M., $1,529,000; Raleigh A
Charleston RR. prior lien & consul, mtges.. $550,000; Richmond-Washing¬
ton Co. coll. trust mtge. (Seaboard proportion, 1-6), $10,000,000 Savannah
Ac Statesboro RR. 1st M., $185,000; Tampa Northern RR. notes, $200,000:
Tampa & Gulf Coast RR. 1st M., $750,000. and Wilmington Ry. Bridge
Co. (Seaboard proportion, X), $217,000
S. K. Invest. Co. notes. $7 65,000
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Govt, loan, V. Ill, p. 793, 1184, 2230; V. 112, p. 933, 1025, 1519.
Jan. 1—Mar. 31—
Jan. 1—Dec. 31
EARNINGS.—
Gross
Net after taxes.
1921.
^
1920.
1920.
1919.
,....$12,200,707 $13,166,754 $49,265,029 $41,183,532
1.374,950
1,380,173
def913,982
2,091,409
Compensation Under Federal Control.—Under the contract with the U. S.
RR. Administration, as agreed upon the gross corporate income for th*
period of Federal control, viz.: Jan. 1 1918 to Dec. 31 1919 (last 4 mos. of
1919 est.) Is $14,199,713, or a yearly average of $7,099,857.
This provides
for all Interest charges, including equipment interest payments and interest
on the Adjustment bonds, as well as corporate expenses.
The amount al¬
lowed the company by the RR. Admin, additional to the standard return
under the Federal Control Act, $6,497,025, is $423,000, making a total of
$6,920,025 as the annual compensation for the railway during Federal con¬
trol.
The balance between this figure and the $7,099,857 is made up of
other corporate income—V
109 p. 1081.
REPORT.—Report for
Calendar Years—
Gross earnings.*
Netearnings
Taxes, &c
Operating
income
Other income
Gross
income
year
1919:
*1919.
*1918.
1917.
$41,183,532 $38,923,106 $30,345,146
$3,717,715
$5,576,313
$8,627,968
1,626,306
1,479,354
1,390,087
$2,091,409
$4,096,959
$7,237,881
163,162
140,744
391,375
$2,254,571
$4,237,703
$7,629,257
.
Milton E. Ailes, Washington, D. O.; Mills B. Lane, Savannah, Ga.; Robert
F. Maddox, Atlanta, Ga.; J. P. Taliaferro, Jacksonville, Fla.; A. H. Wood¬
SHAMOKIN SUNBURY & LEWISBURG RR.— {See Map Reading Sys¬
tem.)—Shamokln t© West Milton, Pa., with Iron bridge over the Susque¬
hanna. 32.11 m.; second track, 14.82m.; total of ell track, 59.23 m.
Leased
to Phila. fit Read. July 2 1883 for 999 years at 6% on the stock, Int. on bonds
and taxes.
Lease assumed by P. & R. Ry. Dec. 1 1896.
Used for coal
traffic northward.
Stock. $2,000,000
(par $50), owned by
Reading
Co., of which $1,995,000 Is deposited under mtge. of 1897.
The $1,000,000
1st 5s due May 1 1912 were extended at 4% to July 1 1925 and guaranteed
prin. and Int., by Reading Co., V. 94, p. 1120.—(V. 94, p.1120.)
SHAMOKIN VALLEY fic POTTSVILLE RR.—(See Maps Pa. RR.)—Sunbury, Pa., to Mt. Carmel, Pa., and branches, 39.74 m. Leased Feb. 27 1863
Tor 999 years to Northern Central Ry Co., with a guaranty of taxes, interest
on
bonds and 6% on stock, of which N. O. owns $619,650.
The leaRe
assumed In 1914 by the Penn. RR. Co.—(V- 97, p. 1735 )
SHARON RY.—Owns from Newcastle, Pa., via Sharon to Pyinatuning,
Pa., with branches, 32.75 miles.
Leased to Erie RR. for 900 years from
Dec. 1 1900 for taxes. Interest and a sum equal to 6% on stock, ficc.
In
1918 reduced to 53^% and in 1919 to 5%, due to refusal of lessee to pay
Income tax.
The stock has been increased from time to time
on
account of improve¬
ments and in
1919 was increased from $1,203,650 to $1,389,000 In connec¬
with double tracking of the New Castle branch.
V. 108, p. 380.
The New O. & S. V. 6% bonds were extended in 1917 at 4^% int. and
tion
he $164,000 4X& due June 1
1919 until Jan. 1 1937 at 5M%.—(V. 111.
793.)
P-
'■:■,/
■
SIERRA
RAILWAY (OF CALIFORNIA)—Owns road from Oakdale
County, Cal., to Tuolumne, Tuolumne County, 56.5 m.; James
'own to Angels. 19.3 m,; total, 75.8 m.; yard, Ac., track, 8.6 m.
Stock authorized, $5,000,000; Issued. $3,248,000.
Bonds, V. 79. p. 270.
For year ending Dec. 31 1920, gross, $454,951; net, $137,569; other incjome, $4,998; interest, &c., $139,261; bal.,
sur., $3,306.
Pres., R. H.
Dowries; Sec., J. T. Bvllock; Treas., O. N. Hamblin, Jamestown, Cal.—
(V. 92, p. 643. 957; V. 100, p. 1438.)
in Stanislaus
SOUTH CAROLINA PACIFIC RY. CO.—No. Caro. State line to Benaettsville, S. O., 10 68 miles
Common stock, $100,000
$82,200 being
Atlantic Coast Line RR., which leases the road for a term or
years from Jan. 11915 at a rental sufficient to pay 6% yearly on $104,600
cum. pref. stock and dividends on the $100,000 common stock as follows;
4% for 4 years ending Jan. 1 1922, and 5% thereafter to end of lease.
The
pref. stock Is convertible with all accumulated dividends, at option of holder
at par Into any bonds that may be issued and would rank ahead of the pref.
owned by
stock either
as
to
prin.
or
divs.
V. 99
p.
1675; V. 100,
p.
142.—(V.
100,
142.)
p.
SOUTH GEORGIA RY.—Adei to Greenville, Fla.. 51 mlJes; leases West
Coast Ry., Greenville to Hampton Springs, 31 m.; total, 82 miles.
Short
line contract with U. S. Govt, was signed in Dec. 1918, but the road was
operated by its own officers.
V. 107. p. 2290, 2478.
Stock, $58,00®.
V. 83. p. 1172.
Dividends paid in 1908-09, 20%; in 1909-10, 30%; in
1910-11, 25%: in 1911-12, 35%; in 1912-13, 45%; in 1913-14, 50%; in
1914-15, 60%; 1916, 40%; 1917, 40%; 1918, 6%; 1919, 47^%; 1920, 24%.
Year ended Dec. 31 1920, gross, $322,848; net, after taxes, $54,035; other
income, $20,114;int.rentals, &c., $63,647;divs. (24%), $13,920; bal., def.,
$3,419.
Pres., J. W. Oglesby.—(V. 83, p. 1172; V. 107, p. 2290, 2478.) '
SOUTH PACIFIC COAST RY.—Elmburst to Santa Cruz, with branches
total, 107 miles; ferry, 3 in. Leased for 55 years from July 1 1887 to South¬
Pacific Co., which guarantees the bonds and owns all the $6,000,000
ern
Year 1917, gross, $1,544,523; deficit, after ©per.
exp. fic taxes.
$105,016; non-oper. income, $76,472; rentals and taxes, $62,524; deficit,
$91,068; rental from So. Pac. Co., $440,000; net loss to So. Pac., $531,068.
stock.
SOUTHERN ILLINOIS & MISSOURI BRIDGE CO.—Owns bridge (and
across Mississippi River at Thebes, 111.
Stock, $50,000,
outstanding, equally owned by tne St. Louis Iron Mountain A Southern,
3t. Louis Southwestern, Illinois Central, Chicago A Eastern 111. and Mo.
Pacific, all of which, except the last named, have a 50-year contract dated
Nov. J 1901 for use of the
ridge, under which they agree to meet all charges.
Pres., W. J. Jackson; Sec. & Treas., F. P. Johnson.—(V. 107, p. 402.)
4.64 miles of track)
ill
SOUTHERN
NEW
ENGLAND
RY.—See Central
Vermont Ry.
and
VL^llO, p. 1416; V. 107, p. 2009; V. 106, p. 2758; V. 102. p. 1718; V. 96, p.
SOUTHERN PACIFIC COMPANY.—(See Atop.)—This company owns
only 528 m. in fee (operated by Oregon fit California RR., Ac.), but prin¬
cipally through ownership of stock, it controls a great system o
road*
extending from San Francisco to New Orleans (thence by company *
steamers to N.Y..&C.) and to Portland, Ore.,co Ogden, Utah, with branches.
\
'
■
■'
■
v.-
RAILROAD
'
'
-i
■■■
'
ri m
i
Miles
Road
COMPANIES
{For abbreviations, Ac., see notes on
first page]
Southern Pacific Co (Concluded)—
Eq tr Ser A $1,012,000 yly call 102M b«g
do
SerB
$201,000 yly call 102H beg
do
Ser O
$117,000 yly call 102H beg
Ser D
do
do
Ser
First Oonsol mtgeguar gold *
Northern Ry (Cal) eonsmow
f not drawn>Ce.xc*&r
1st)
Mgold-Un.xc*&r
gold
a
1910Eq.xo*&r*
by So Pac Co)
Northern California first mortgage
First Ref Me gu red 105 since
Coast Line Ry 1st M (owned
ip.i.j.
Bonds
$2,024,000
M
603,000
468.000
M
A
A
1916
1920
1,000
240
1,685
377
54
3,109
1887
1893
1888
1889
1905
First Cons M 1st on 900 m e($ 120,000,000)
Ce.xc*Ar
Development & Gen M ($200,000,000) g — (i.xc*&r
Monon JointM red 105 since 1907 half share a.xc*&r
Col M g $9,500,000 s f (Mob & Ohio)
G.xc*Ar
Three-year Secured Gold Notes call 101-vvvCCc*Ar
Eq Series P gold due $75,000 J & D
PePx
Series Q gold due $76,000 J & D—
PePx
Series R gold due $88,000 F & A
Pe.Px
Series S gold due $215,000 A A O
PePy
Series T gold due $235,000 M A N
PeP
Series U gold due $255,000 MAN 15
PeP
A—Properties Merged in Southern Railway Co.
Georgia Pacific first mortgage—....
Ce.zc*
RlchmA Danv deb M old 5s (no longer Incomes) Cei
Virginia Mid—Mtgee E due 26;
General
mortgage.;
F, 31
on
System comprises the following,
Oregon A California RR
Controlled by So. Pac. Co.
them.
Eastern
1902
1901
1919
1911
1912
1913
1914
1910
1916
566
403
50
Cez
1886
1884
1,000
1,000
Louisiana Western RR
Morgan's La. A Tex. RR. A
RR
Controlled as
titles:
Lake Charles A No.
Total in system Dec.
401
31 '19-11,090
Sunset Railway
x60
864
(14)
470 Affiliated companies
These, with a total mtge. Indebtedness Dec.
PROPRIETARY LINES/
31 1919 of $444,479,902, are controlled through stock ownership, only
$76,100 out of their total capital stock of $346,532,400 not being held on
Dec. 31 1919 by the Southern Pacific Co.
ORGANIZATION.—organized under laws of Kentucky.
As
to disposal made by Union
Pacific of Its Interests In company In
1913 under order of court, see V. 97, p. 50, 445, 667.
Suit by the Govt, to compel the company to dispose of Its holdings in
Central Pacific was decided against the Govt. In the lower court In March
but
case
postponed in Oct._1918.
As to
Union Pacific
V. 107,
1542,
decision p. 1912.
In
98, p. 1994; V. 99, p. 1461; V. 100, p. 399. 734. 2011;
V. 103, p. 1221; V. 106, p. 2123; V. 107, p. 513; V. 109, p. 889, 1988, 2172;
V. 110, p. 1090.
Land grant suit, see Oregon & California and V.
p.
1222; V. 104, p. 1703; V. 107, p. 513.
The directors on Dec. 1 1920 adopted a plan for the separation of the
company's California oil properties and of its stock holdings in the Asso¬
ciated Oil Co. from its railroad properties, a new company, known as the
OUl land
dedslon,"v.
103,
Pacific Oil
Co., being organized for this purpose.
See Pacific Oil Co. un-
del* "Industrials "
On Jan. 11917 agreed to take part In building and then to operate the San
Diego A Arizona Ry. (V. 104, p. 74), San Diego to Yuma, Cal., 220 miles
V. 104, p. 74; V. 105, p. 2367; V. 107. p. 514.
Southern Pacific RR. of Mexico, incorporated 1909 with $75,000,000
and Dranches.
(all owned Dec. 31 1919 by Southern Pacific Co.), took over the 1,507
miles covered by Mexican concessions, extending from Empalme to Guada¬
lajara, 815 miles, with branch lines 692 miles, of which 1,241 miles had beeD
completed Dec. 31 1919.
In Dec. 1910 obtained additional concession
from Guadalajara to Mexico City.
V. 83, p. 1536; V. 84, p. 1141; V. 86.
p. 350; V. 87, p. 414; V. 88, p. 303, 1622; V. 91, p. 1645. 1770.
The prin¬
cipal and interest advances to Southern Pacific RR. of Mexico to Dec. 31
1919 amounted to $77,089,563.
Northwestern Pacific RR. (Jointly owned
with Atchison), see that company.
The Southern Pacific Equipment Co. was Incorp. In May 1920.
V.
stock
110,
p
2293.
RAILWAYS.—The electric roads controlled Include (a
Pacific Electric Ry., 612 miles of electric lnterurban road radiating from
Los Angeles; (b) Peninsular Ry., serving San Jose, Santa Clara. Ac.. 64 m
c) San Jose Railroads, 28 m.; (d/Stockton Electric Co., 13 m.: Visalia Elecrlc RR.. 36 m.. and (e) Fresno Traction Co., 27 m.
See "Elec. Ry. Sec."
CAPITAL STOOK.—Against the common stock of Southern Pacific Co.
there was on deposit with Union Trust Co. of N. Y. on Dec. 31 1919, stocks
of subsidiary companies as follows (at par value): Gal. Har. A San Ant.,
$27,005,600; La. West. RR., $3,310,000; Morgan s La, A Texas RR. A SS
Co.. $4,994,000: Sou. Pac. RR., $124,071,861; Texas A New Orl. RR..
$4,997,500; total, $164,978,961.
Stockholders of record Jan. 14 1921 were given the right to purchase at
$15 per share one share of stock of the Pacific Oil Co. for each share of South¬
Pacific Co. stock held.
See Pacific Oil Co. under "Industrials."
ern
\Oct. '06-Apr. '07. July'07. Oct. *07 to July'21
(Common stook)
?5% yrly. (2 H s.-a.)
1 H%
6% yrly. (1H quar.)
BONDS, Ac.—The funded and other Interest bearing debt of Southern
Pacific Co. on Dec. 31 1919 aggregated $167,608,760; of proprietary co.f
DIVIDENDS.—
$444,479,901; total, $612,088,661, held as follows: In hands of public.
$509,765,445; owned by Southern Pacific Co., $87,119,216; owned by pro¬
prietary co's, $2,337,000; held in sinking funds of proprietary co's, $12,867,000.
Of the So. Pac. securities Union Pacific owned (with others),
$0,399,000 Cent. Pac. stock collateral 4s; $0,000,000 San Fran. Term. 1st
4s, $4,011,000 equipment trust 4)4«. due 1920-26, and $14,508,000 So. Pac.
1st Ref. 4s.
The 4%
collateral trust gold bonds of 1899 are limited to
$36,819,000 and
subject to call at par on 6 months* notice.
The $34,100,500 outstanding
Dec. 31 1919 were secured by $07,274,200 common and $17,400,000 pref.
stocks of the Cent. Pac. Ry. Co. See mtge. abstract, V. 69, p. 859.
Collateral for Central Pacific Ry. 4% 35-year European Loan of 1911;
are
& W. Texas, $1,919,000; Hous. A Texas Central,
Tex. RR. A SS. Co., $10,000,000; Oregon A
and pref., $11,991,000; So. Pac. RR.. $35,000,000; So. Pac. Term. Co., $1,999,500.
(b) Bonds: Galv. Har. A 8an
Ant. Ry. 1st M. East DIv., $4,728,000, and 2d Dir., $1,000,000; Houston
A Texas Central Lampasas Exten. 5s, $450,000; total par value, $83,985,800.
V. 103, p. 1222; V. 101, p. 2146; V. 94, p. 130,1762; V. 92, p. 593,794.
In March 1909 the stockholders subscribed for $81,814,000 of 4% 20-year
bonds at 96, convertible to June 1 1919 into common stook at 130 at option
of holders and red. at 105.
A total of $27,319,240 bonds were so converted
into $21,014,800 par value of stock.
V. 109, p. 285; V. 88, p. 507, 1062;
(a) Stocks: Houston E.
$9,998,300; Morgan's La. A
Cal.
RR. com., $6,900,000,
V. 89, p. 44, 105.
On June 8 1909 the
dlreotors authorized an Issue of not exceeding $100,
000,000 4)4% 20-year gold bonds for "corporate purposes"; under option
then given $227,000 was exchanged, along with $20 per share in cash, for
$227,000 pref. stook; no others issued.
V. 88, p. 1501; V. 89, p. 1420.
"San Francisco Terminal" bonds ($50,000,000 auth.; int. rate 5% or less)
Bay Shore line and terminals; $24,910,000 4s outstanding.
373, 448, 1555, 1615, 1678; V. 91, p. 1631; V. 92, p. 1180.
eover
So Pac,
do
i§20
2 H JP Morgan A
2%
A
M
A
A
»V 4 H g J
4V4g J
Jan
1 1927
A
A
Apr
M
A
do
M
A
F
A
•
do
May 1 1936
Feb 1 1924
'
Co. N Y
do
do
Mar '26A'31
6
4
do
do
do
do
do
do
J P Morgan A
1 1922
5
and Chicago
Ins on L. Ao
do
O Oct '21-Apr
A
do
York
Penn Co for
do
xr
J
do :
do
do
do
New
Dec '21-June'22
Ang'21 toAug'23
*24
MAN Nov ,21-May*20
MAN15 Nov '21-Nov *26
A
do
do
A A15
A
00? NY
"
do
A
F
£g
5 s
do
do
Dec 1921
A
do
do
1921
M
A
J
N V
165 B'way, N Y
do
(Held by So Pac Ce)
July 1 1994
Apr 1 1956
July 1 1952
Sept 1 1938
Mar 1 1922
A
A
4 g
4 g
6 g
.
Phila
do
do
do
A Tr Co, Bait
J P Morgan A Co, N Y
do
do
Safe Dep
The $45,539,000 5 % 20-year convertible bonds sold in 1914 were made
holder at any time on or before June 1 1924 into
full-paid stock at par and subject to call (as a whole only) on or after
June 2 1919 at 105 on 90 days' notice.
If called, they may be converted
convertible at option of
to 30 days prior to call date. V. 98, p. 524,1394.1539,1921; V. 99,p.l99.
Equipment trusts. V. 90, p. 1425; V. 97, p. 597, 730; V. 99, p. 1599,1675;
up
V. 110, p. 2488.
Guaranty of Pacific Fruit Express Co. equipments, V. 110, p. 2082.
In May 1921 asked authority to guaranty, prin. & int., $364,000 1st M.
5% bonds of Houston East & West Texas RR. V. 112. p. 2191.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Govt, loan refused, V. Ill, p. 1950.
Federal
Southern
V. 90, p.
Compensation.—$48,244,660 yearly during Federal
Pacific
$38,421,849 Louisiana Western
1,242,475 Morgan's La. A Texas
Arizona Eastern
Galveston
Harrisburg
&
San Antonio
Houston E. & W. Texas.
Houston A Texas Cent
Earnings of System—
Gross
110, p. 2653, 2665:
Net
11,043
11,101
11,137
239,657,272 221,611,206 193,971,489
196,405,859 172,180,729 128,892,678
43.251,413
48,244,660
(net)
Total net income
61,349,327
267,020
-
Rents, Ac
Bond, Ac., interest
—
——
(war)
75,856,844
168,316
1,274,869
23,767,104
1,482,081
24,219,075
2,433,618
260,609
319,276
1,707,269
Total deductions
.
surplus
Includes $3,068,047 in
538,678
16,404,509
997,111
16,369,400
978,097
49,190,985
44,074,923
13,047,284
(6%)
Sinking, Ac., reserve
x4,449,926
48,302,044
-
x2,452,114
17,478,459
1,022,864
Miscellaneous
to a prior
60,474,281
329,589
1,424,284
22,701,121
522,563
interest
Balance,
3,054,300
2,604,342
2,864,268
-
Rent for leased roads
Dividends paid
2,388,652
2,730,732
2,304,208
2,595,502
3,090,031
——
&c
Hire of equipment
Rentals,
Taxes
65,078,811
4,317,197
1,182,039
2,814,243
&c
Income from funded securities,
49,430,477
48,167,343
6,244,117
revenues
Standard return
Miscellaneous operations
Dividend income
Other
$
$
$
Transportation operations
Operating expenses and taxes
1917.
1918.
1919.
31—
non-proprietary).
Average miles (lncl.
895,178
$1,188,525
$63,081,340$282,269,504$239,657,272
6,687,939 25,250,705 39,308,410
REPORT.—Report for 1919, Un V.
Years ending Dec.
control.
Orleans.715,136
85,032
3.230,645 Houston A Shreveport..
73,494
375,566 Lake Charles & Northern
14,495
1,717,506 Iberia A Vermillion
Mar. 31
Jan. I—Dec. 31
—Jan. 1'
1920.
1920.
1919.
1921.
Texas A New
.$64,729,875
7,885,169
—
Net after taxes
x
ELECTRIC
RR.
r
held by compan
Other Proprietary Companies—
378
(x Jointly controlled.)
Ry.1.381
857 Southern Pac. RR. of Mexioo—1,241
x523
208 Northwestern Pacific RR _-_-
SS_
O Apr 1
A
J
5*
5.655,000
3,368,000
3,084.000
4.859,000
1.025,000
100 Ac
A
4
Dec 30
Text
See text
60.000,000
5,650,200
1882
1881
^
do
1938
1929
1955
1941
Oct
A
1200000 00
1,000
1,000
1882
Central RR—
Texas A New Orleans
1
June 1
J
A
Jan
1
J
A
MAN Nov 1
1,000 Ao 73,559,000
1,000 Ac b61,333,000
5.892,500
1.000 Ac
8,349.000
1,000 Ac
1,000 Ac 25.000,000
75.000
1,000
150,000
1.000
440,000
1,000
1,290,000
1.000
2,350,000
1,000
2,805,000
1,000
(V.90, p.448)
Galv. Harrlsb. A San Ant.
Houston A Texas
1906
above'{Concl.)— Miles
Ry
...
73
Houston A Shreveport RR
41
Houston E. A W. Texas Ry—191
701 (3) Controlled by Morgan's La. A Tex.
Iberia A Vermillion RR
21
31
-Op- Less duplications. Ac. {net)—
erated by Cos. owning
Arizona
1894
mostly described under their own
(1) Controlled; also leased.
Miles.
Central Pacific Ry (see below) .2,289
South Pacific Coast Ry
107
Southern Pacific RR
3,475
(2)
4,943
Cex
Dec. 31 1919 $59,824,000
A
A
700,000
z
— —
.....
Wash Ohio A West, 1st M
A
M
500 Ac 143.831,500
100
100
office and
do
So Pao, 165 B'way,
do
do
O Apr 1 1937
Nov 1 1937
A
4,751,000
1,074,000
1,000
1,000
Y
*23
do
3,533.000
4,127,500
"500 "&c
"""loo
Text
Sept 1 21 to
D Dec 1 '21 to '24
MAN May'22-May*20
J
A
D June 1 *24 to '35 New York
See
text See text
2,555.000
15,000,000
100 160.000.000
x
Southern Railway Issues—
J
mimi,!,,*—
"""■
Where Interest ant
Dividends are Payable
Mch 1 *22 to'23 N
A
1.000
1,000
1.000
Places
and Maturity
Payable
%
'
Dividend
Last
When
' "
".m"'1
' :in, ■ ■ n . *
■' . .n,.'
Rate
Outstanding
Value
-
$1,000
Railway—Common stock $120,000,000
Preferred 5% non-cumulative $60,000.000—
— ..
'mm'
——
i
Amount
Par
Date
Southern
MAO stock trust certificates
m.
.r; i n n
1913
1913
1918-xc»
1918-xc*
1919....
$511,000 dueyrly; call 102H, beg 1921
E $1,250,000 due yearly
__xc*
Sonthern Pacific RR—Stock $100,000,000 auth.-So Pao Br 1st M gold 8 f $50,000 1897 not drawn
b Also
[Vol. 112.
RAILWAY STOCKS AND BONDS
124
•
11,283,296
31,781,921
applicable
1918 and $337,857 in 1919, expenses
period.
DIRECTORS.—Julius Kruttschnitt, J. N. Jarvie, E. P. Swenson. J.
Harding. W. P. Bliss, F. D. Underwood, Henry W. de Forest,
H. E. Huntington, Lewis J. Spence, Ogden Mills, L. F.
Loree, Edward S. Haikness, William Sproule and Samuel Rea.
Chairman Exec. Comm., Julius Kruttschnitt, N. Y.; Pres., William
Horace
Robert Goelet,
Sproule, N. Y.; V.-P. A Asst. to Pres.,
W. de Forest, N.
Paul Shoup, San Fran.; V.-P.,
Y.—(V. 112, p. 653, 1026, 1145, 1519,
Henry
1868, 1979.)
PACIFIC RR.—(See Maps.)— About 3,530m., embracing
a through line from east bank of Rio Grande River through New Mexico and
Arizona, via Los Angeles, San Francisco and Oakland, to Tehama, In No
California, with branches (V. 105, p. 181): 24 m. are leased to other roads.
Annual compensation under contract for Government operation, $38,021 938
V
108 p
974
STOCK.—^Sou. 'Pao. Co'. Dec. 31 1920 held all the $160,000,000 stock.
Dlvs.: 4% in 1906-07; 13%. 1907-08; 5%, 1908-09; 6% from 1909-10 to
June 1914, lncl.; 5% 1914-15; 6% 1915-16; 1917,6%; 1918.6%; 1919,6%.
BONDS.—Consolidated Mortgage of 1894 abstract was n V. 6?, p. 104.
The First Refunding 4s of 1905 ($160,000,000 auth. Issue) will eventually
be a first lien.
Guaranty, V. 82. p. 49.
The mortgage Is a lien subject to
existing mortgages on the entire owned mileage, which on Aug. 31 1918
consisted of 3,110 miles.
It Is a first Hen of 2,438 miles, save lien of consol.
5« of 1893 at less than $1,700 per mile (V. 87, p. 1012).
V. 88, p. 159
V. 89, p. 164; V. 98, p. 264.
Sufficient of the issue is reserved to retire
the underlying bonds.
>
On Dec. 31 1917 Union Pacific owned $14,568,000 and Southern Pacific
Co. $6,425,500 of the bonds.
V. 106, p. 2758.
REPORT.—For year ending Dec. 31 1918 earnings were: Income from
lease of road. $15,350,844; other income, $2,580,218; Interest and other
charges, $6,617,739; reserves and sinking fund, $203,380; dividends (6%),
$9,600,0()(); balance, surplus, $1,509,944.
In 1917, gross, $71,859,508;
net. after dividends, $20,767,386.
V. 105, p. 181: V. 109, p. 889.
Pres.. William Sproule.—(V. 110, p. 1090, 1416.)
SOUTHERN
SOUTHERN
RAILWAY.—{See
Maps.)—System embraces 6,983
D. O., and West Point and Richmond.
miles, extending from Washington,
Va., to Danville, Va.. Greensboro, N. C., Norfolk, Va., Charlotte.
Columbia, S. C. and Atlanta, Ga., thence northerly to Bristol,
southeasterly to the coast at
Owned ifi fee—
Alexandria
to
(near
Miles. Coster to Cumberland Gap, Ky.
Ooltewab Jet., Tenn., to BrunsWashington)
ipyiclf
279
Greensboro, N. G
Charlotte, N. 0., to Augusta,Ga
Columbia,S.Co.,toGreenv.,S.C.West Point, Va., to Neapolls.Salisbury, N. C., to Morristown,
Tenn
N. C.,
Tenn.,
Brunswick. Ga.. and to Columbus, Miss.
—•
Memphis to Stevenson,"Ala
Bristol to Chattanooga, Tenn.-
190
144
179
231
272
242
64
412
fine.
261
York, Ala.
27l
Atlanta, Ga., to Ft. Valley, Ga_
E. St. L., 111., to N. Alb., Ind
Branches, Ac
102
265
1,430
Austell',
Ga., to Miss.State
Atlanta Jet., Ga., to
Total owned
4.342
Miles
see notes
6]
on page
Date
Par
Amount
Rats
When
Last
Road
RAILROAD COMPANIES
[For abbreviations, &c.,
Bonds
Value
Outstanding
%
Payable
and
Southern Railway—(Concluded)—
i.
Eaat Tenn Virginia A Georgia Dlv mtge g_.Un.xo*
E T Va A Ga cons M g ($20.000.000)-- --Ce.xo&r
Knoxvllle A Ohio 1st M g (V 79. p 1466) — CeJto* Ar
552
1880
1886
1.020
$1,000
1,000
66
1885
1,000
Ce.xo*&r
Memphis Dlv 1st M ($8,000,000) gold—G.xo*Ar
1,020
292
1894
1898
1,000
1,000
Aiken Branch first mtge gold (V 68. p 826)
Mpx
St Louis Division 1st M g $15.000,000.. IC.xc*Ar
Mobile A Ohio bonds—See Mobile A Ohio RR Co
24
1898
500
365
1901
1.000
B—Southern Railway Divisional
Eaat Tennessee Hen gold
•
$3,106,000
12,770,000
2,000.000
A
£g
A
§g
6 g
(a) So uthern R
C—On Properties Practically Owned by (•) or Leas ed to
166
1899
1,000
Atlantic A Yadkin first mortgage gold gu— Ce.xc*
31
1898
1,000
$315,000 g—jco
100
1914
263
1.000, Ac
B 5x)Ceyc»Ar
by (♦) or Leas ed to (a) So uthern Ry
98
1896
1,000
oGeorgia Midland first mortgage Interest guar..Cex
1st M $20,000,000 ($14,500,000 Ser
C—On Properties Practically Owned
4,500,000
6.883.000
150,000
12,473,000
149
1895
1,500,000
315,000
1,700.000
20,000,000
—Ba
Second mortgage gold
Eq
Virginia A Southw—1st M g gu by Va I O A O..Qx
First Oonsol Mtge $7,000,000 gold__G.xc*Ar*
Equip tr ser E dus $25,000 s-a( V 93, p 1106) -Ba.x
da
da
ser F due $21,000 s-a
Ba.x
do
do
sar G due 24 M and 23 S s-a—G.y
Southern Railway, Carolina Division—
oSo Car & Ga 1st M g ext gu caU 107 34 % Ce.xxxc*
149
1895
Leased— ("see this co.)—
Miles
•Atlanta A Charlotte Air Line,
Chari., N C., to Armour, Ga.
•Georgia Midland Ry
•Mobile & Birmingham RR.—
Mobile, Ala., to Marion Jet..
•Southern Ry., Car. Div.—
Charleston, S. C., to Augusta,
Ga., with branches to Co¬
&o
Camden, 3.C., to Marlon,N.C.
Biltm., N. C„ to Alston, S. C.
branches
—
•Richmond & Mecklenburg RR.
Lookhart RR
...
Elberton Southern Ry
Leased
(♦see this co.)—
•North Carolina RR.—
Goldsb.,N. C„ to Greensboro,
Charlotte,
&o
Atlantlo A Danville Ry.—
Norfolk to Danv., Va., A br„
•Virginia A S. W.._
d«
do
do
do
A
do
do
A
J Jan
do
do
A
4 g
A
A
9
A
4H A 5
A
A
263
98
Other
4g
A
A
J July 1 1948
J July I 1948
Bankers
tg
A
J Jan
Guaranty Trust Co, N Y
A
A
A
A
4
II
i*
5,250,000
1,000,000
5.000.000
434,000
A
J
1906
1,000
1,000
1,000
1,000 Ac
5ig
A
J Jan
100
5,191,100
5
A
1907
1,000
354.000
5 g
A
J Jan 5 '21 2)4% Macon and Savannah.Ga
1 1937'
O Oct
New York
./—i■■Si-'-'-
1908
209
1911
1913
1914
1894
1895
1902
240
A
A
O Apr 1 1958
N Nov 1921
A
D Dec '21-June'23
5
A
5H g
A
4 g
4 g
A
44
58
83
.....
10
163
41
28
Atlantic A Yadkin.......
P, R. A. A So.
RR
50jrears from July 11912. Bluemont branch. 54 m., to
Wash.A
line
V. 75, p. 449
RR. between Savannah,
Jesup, Ga., and Jacksonville, Fla., 152 miles.
Affiliated—{See each company).
Great Southern
312
Cincinnati N. O. A Texas Paciflo.337
Northern Alabama
113
Georgia Southern & Florida..
402
204
Mobile A Ohio
1,166 New Orleans A Northeastern
In July 1918 the CaroUna A North Western RR. (V. 105, p. 605), with
lines from Chester. S. C., to Edgemont, N. O., 134 miles, was acquired
by Southern Railway Interests, but remains
107, p. 1670.
a
separate corporation.
V.
ORGANIZATION.—Organ. 1894. V.58. p.363,385,058.874,1010.1058.
In 1903-04 jointly with LouisvUle A Nashville acquired $13,680,300 of
the $15,500,000 Chicago Indianapolis A Louisville stock in exchange for
their Joint 50-year 4% bonds.
V. 74, p. 1029, 1090.
In 1916 purchased most of stock of N. O. A Northeastern RR., whlcb
see: also V. 104, p. 74: V. 105. p. 1530
Effective Mar. 1 1920, for the purposes of administration, the lines con¬
stituting the Southern Railway system were divided into two groups, viz.:
(1) Lines West—Cincinnati New Orleans A Texas Pacific Ry., Alabama
Great Southern, New Orleans A Northeastern, Harriman A Northeastern,
Cincinnati Burnside A Cumberland River, Northern Alabama, Georgia
Southern A Florida and the St. Louis Louisville, Memphis, Atlanta, Colum-,
bus, Birmingham and Mobile operating divisions of Southern Railway;
(2) Lines East—the following operating divisions of Southern Railway:
Washington, Danville, Charlotte, Richmond, Norfolk, Winston-Salem,
Appalachia, Ashe-
Columbia, Charleston, Spartanburg, Knoxvllle, Coster,
ville, Murphy and Transylvania.
STOCK.—Authorized $120,000,000 com. and $60,000,000 5% non-cum.
pref. stock.
As to whether the pref. Is callable, see V. 72, p. 1136.
DIVS.(%)V01 02to 06.'07. 08- 10. '11. '12. 13 *14 'IS'ie'lT.'lS.'lfl.^O,
On pref
J 4
5 y'ly
4
0
2
434
5
434 none 234 5
5 text
In April 1914- 234% cash;
Oct.. 2%. payable In 5-year 4% Interestbearing scrip.
V. 99, p. 1053, 749.
The dividend scrip was paid off,
p. A i., on Nov. 1 1919.
V. 109, p. 1701.
Dividends resumed in 1917 with
234% Nov. 20.
April and Nov. 1918, each, 234%; June and Dec. 1919,
234% each; June and Dec. 1920, 234% each.
Action on June 1921 div.
was deferred.
V. 112, p. 2085.
BONDS AND NOTES.—In Feb. 1917 the plan for the creation of a
Refunding and Impt. Mtge.
V. 103, p. 1593, 2079; V. 104, p. 765; V. 105,
1530.
581) an issue of $25,000,000 three-year 6%
1919 and due March 1 1922, but subject to prior
In Feb. 1919 sold (V.
1
108,
p.
redemption, all or part, at 101 and Int.
Denom. $1,000, $5,000 and
$10,000. ' Secured by deposit of $43,500,000 Development and General
Mortgage bonds.
Out of the proceeds paid $25,000,000 maturing notes.
V. 59, p. 783; see V. 81
1850; V. 84, p. 392; V. 89. p. 1598; V. 92, p. 796; V. 97, p. 300, 1205;
99, p. 1834; V. 100, p. 310; V. 102. p. 610; V. 103, p. 580; V. 107, p. 1921.
The $1,000,000 First Mtge. 6s of Ala. Central RR., due July 1 1918,
First Consol. Mtge. for $120,000,000, abstract,
acquired by So. Ry. Co. and pledged under its first consoL mtge.
Application of $120,000,000 First Consol Mortgage 6s of 1894.
Issued to Dec 31 1918 (of which $154,200 In treasury)
Issuable only toJ"prior bonds" (see V. 59, p.
retire certain 1 stocks (see V 5ft. p. 786)
785)—
$72,963,20C
41,317,000
5.700,000
Application of $200,000,000 Development and General Mortgage
Bonds.
Apr.'09 $31,000,000
To retire prior liens not provided for by consol. mortgage— 31,158,000
To retire equipment obligations maturing 1906-21-.
18,008,000
To acquire capital stocks of certain leased lines
10,000,060
For Eastern Division of Tennessee Central (option expired) _ 10,000,000
To provide for 'future acquisitions and betterments under
'stringent provisions (a) at not exceeding $5,000,000 yearly
for improvements and equipment and (b) in exchange for first
mortgage bonds not exceeding In amount the actual cost
99,834.600
thereof of railroads and terminals hereafter acquired—
Issuable forthwith and to retire col. tr. 5e ($16,000,000)
(1)
On Dec. 31 1919 $61,333,000 of the Development A Gen. Mtge. bond8
were outstanding and a further $59,824,000 was available for company's use*
Including $43,500,000 pledged as collateral for notes.
In Jan. 1921 $5,990,"
Y
Sept'21-Mar *24 Guaranty Trust Oo, N Y
J P
N May 1 1929
1 1995
J Jan
Morgan A Oo, N Y
do
I 1956
do
do
July 1 1952
do
Guaranty Trust Co, N ¥
3,880 miles of road, a collateral lien on 1,175 miles, a lien by
pledge of leaseholds on 1,813 miles, and cover also as of Dec. 31 1918
$31,151,900 (par value) securities, including $17,889,000 divisional and
aUied company*bonds, $13,262,900 allied company and Terminal company
stocks, Ac.
V. 82, p. 397; V. 86, p. 1468; V. 88, p. 565, 626, 1622; V. 105,
p. 1530.
gage on some
Ry
Washington, 115 miles.
trackage rights over Atlantip Coast Line
S
do
do
Bankers Trust Oo, N
do
do
000 were issued and pledged as security for Govt. loan.
V. 112, p. 163.
These bonds subject to underlying liens, are now said to be a direct mort¬
.....
Danville A Western..
between Richmond and
1 2003
Dlv lsion
na
Ridge...
Hartwell
Trust Co, N Y
Equitable Trust Co.
1.525.000
2,000,000
5,000,000
25,000
84,000
138,000
Tallulah Falls....
278
189
¥
1.000
Controlled—operated separately—
278
Blue
N
J P Morgan A Co, N Y
do
do
do
2%
do
1,000 Ac
1,000 Ac
1,000
1,000
1,000
Columbus A Greenville RR
226
J July 1 1945
J July 1 1945
J Jan U921
1904
Trackage Rights—
H.
were
O Apr 11946
J P Morgan & Co,
A Feb 1921 3H% Burlington,N O
I
I
3,925,000
Hardeev'e, S. C., to Savan., Ga.
150 Washington, D. C„ to Alex„Va.
Stevenson, Ala.,to Chattanooga,
Tenn., &o
York, Ala., to Meridian, Miss..
219 Kentucky A Indiana Term. RR.
206 Selma, N.C., to Pinnere Pt., Va.
134 Savannah.Ga.,to Jacksonn, Fla.
192
31
Total mileage Dec. 31 1918 .7,102
14 Leased to other
companies
120
51
Balance oper. Dec. 31 1919 .6,983
54
.
N Y
?g
sg
roads
North Carolina Midland
.
J P Morgan A Oo,
do
do
S Marl '21 434% U S Mtge A Trust, N
J July 1 1944
Central Trust Oo. N
1903
Old Dominion Ry.
Water lines—Chesapeake SS. Co., 200 miles.
Also nas one-sixth interest in Richmond-Washington Co., owning
*
O Apr 1 1949
N Nov 1 1948
1,000
Yadkin RR
March
1 1951
136
Roswell RR
10
dated
do
Sept 1 1938
J July 1 1996
J July 1 1998
1.650,000
4,000,000
600,000
1,200,000
900,000
Ensley Southern Ry..........
Controlled by Securities—
State University RR
notes
do
1900
333
Southwestern (Georgia)—Stock (see text)....
2ft
Southwestern Ry (Texas)—1st M gold..
x
Spartanburg Union & Columbus—See Southern Ry, Oaroll
.
Oo, N Y
S
Southwest Penn RR—See Pennsylvania RR
Alabama
A
do
278
278
42
Has
J P Morgan
do
1 1956
J July 1 1925
A
IS
2001,000
2001,000
stock
Northern Alabama Ry—See that company
aAtlantlc & Danville first mortgage
Leased for
July 1 1930
N Nov
Where Interest and
Dividends are Payable
A
5g
5g
4g
100
.. .. ..
gold—Cejco
Bajce
Other
Places
100
guaranteed
oMoblle As Birmingham RR prior Hen
First
mortgage
$1.200.000—
aNorth Carolina stock 7 %
lumbia. S. C..
J
Dividend
Maturity
Securities.
aRlchmond A Mecklenburg 1st M
aAtlanta & Charlotte—Stock
Preferred
125
BONDS
RAILWAY STOCKS AND
MAT, 1921.]
Divisional first mtge. 6s were
Issued in 1898 on account of purchase of
Total auth. Issue, $8,000,000.
V. 67, p. 179; V. 81,
1180; V. 83. p. 436; V. 84, p. 392.
Second mtge. on former Mem. A
Oharl. secures $2,500,000 of 5s, of which $1,500,000 owned by Southern
Mem. A Oharl. Ry.
p.
By. Jan. 1 1919 and $1,000,000 reserved for Improvements.
St. Louis
Division mtge., V. 72, p. 138; V. 84, p. 392.
The ooUateral trust 4s of 1901 have been Issued, $ for $, In exchange for the
MobUe A Ohio gen. 4s as acquired, by a pledge of which they are secured.
Stook trust oertlfloates for M. A O. stock are now entitled to dividends at
4% per an. In perpetuity. (V. 72, p. 242, 822); $8,356,000 of the
$9,472,000 bonds and $5,670,200 of the $6,017,000 stook have been de¬
posited.
V. 72, p. 439; V. 73, p. 664.
See M. A O. statement.
Jointly with St. Louis & San Francisco RR. guaranteed bonds of New
Orleans Terminal Oo., and subsequently acquired entire control of property
(see St. L. A San Fr. plan, V. 102, p. 897).
V. 77. p. 38,699; V. 79, p.1466.
Equipment trusts, V. 81, p. 1850; V. 82, p. 1323; V. 88, p. 1374; V. 90,
p. 978; v. 97, p. 366: V. 98, p. 1158; Y. 102, p. 1897; V. 103, p. 1889, 1981.
Atlanta A Oharl. Air Line Ry. (leased line) bonds, V. 102, p. 1058, 1102.
As to extension and guaranty of South Oarolina A Georgia Ry. bonds in
1919 see Sou. Ry., Carolina Division, below, and V. 108, p. 1166, 1512.
Equipment trusts issued to Director-General for rolling stock aUocated
to this company.
See article on page 3.
Government loan, V. 112, p. 163, 470.
EXPECTED COMPENSATION.—In Apr. 1921 the Federal contract
had not been signed but the average railway operating income for the three
years ended June 30 1917 has been certified by the l.-S. O. Comm. to be
$18,728,537.
Application has been made for additional compensation of
$4,771,399.
V. 109, p. 1360.
Extension of Standard return for 6 months
declined.
V. 110, p. 1527.
LATEST
Jan. 1 -Mar. 31
—Jan. 1 -Dec. 31
EARNINGS—.
1921.
1920.
1920.
1919.
Gross
$31,644,266 $37,404,5601151,864,389$129,787,811
Net. after taxes
382,173
5,712,294
18,282,014
11,926,597
rate of
REPORT.—For year ended Dec. 31
Years ending—
1920.
1920:
1919.
1918.
1917.
revenues.*$126,339,238$129,787,812$126,574,297 $90,716,569
taxes
*12,345,952
11,926,598
30,976,625
26,429,962
Gross oper.
Net, after
Certif. standard return. x3,108,982
Other income
2,850,938
-
18,653,893
2,230,127
18,653,893
2,178,734
3,380,200
income...$18,305,473 $20,884,020 $20,832,627 $29,810,162
T
($3,208,883
$2,507,045
$4,180,025
Interest on debt
(16.603,665 ill,725,873
11,855,142
11,592,721
Pref. dividends—.(234%) 1,500,000(5)3,000,000 (5)3,000,000(234)1500000
Add'ns A betterments..
88,094
4,308
8,707
120,210
Corp. exp. A war tax
807,695
761,526
*...
Total gross
Deduct—Rents, Ac
Balance, surplus
*
For 10 months,
$113,714
x
$2,137,260
$2,700,205 $12,417,206
For 2 months.
OFFICERS.—Pres., Fairfax Harrison, Washington; V.-Pres., H. W.
Miller, Washington; R. B. Pegram, Atlanta; L. Green, F. S. Wynn; Treas.,
E. F. Parham, Washington; Sec., C. E. A. McCarty, 120 B'way, N. Y.
Directors.—Fairfax Harrison, Belvoir, Va.; Henry W. MUler, Washing¬
ton; Edwin A. Alderman, Charlottesville, Va.; John Kerr Branch. Rich¬
mond, Va.; John O. Kilgo, Charlotte, N. CL; Robert Jemison Sr., Birming¬
ham, Ala.; Adrian Iselin, Devereux Milburn, Charles Lanier, Jackson E.
Reynolds, Guy Cary, New York.—(V. 112, p. 163, 373, 470, 653, 746, 850,
1026, 1868, 2077, 2085.
SOUTHERN
RAILWAY CAROLINA DIVISION.—Cayoe, S. 0.. to
Hardewrllie, 129 mUes; Charleston, S. Q„ to Augusta, Ga„ 137 m.; King'/ille, S. C.. to Marlon, N. C.. 208 m.; branches, Ac., 381 m.; total, 755 m.
Leased to the Southern
Ry.
Stook authorized, $7,798,700, of which
$4,176,200 owned by the Southern Ry.
V. 75, p.
$5,250,000 So. Caro. A Ga. 1st M. 5s, due May 1 1919,
136.
Holders of
had the privilege
of extending their bonds for ten years at 534%. at the same time receiving
a cash bonus of 2 M %.
The extended bonds are guaranteed (endorsed) as
principal and interest by the Southern Ry. Co.,
10734 and Int.
V. 108, p. 1166, 1512, 2023.
to
and are subject to call at
SOUTHWESTERN RR. (Georgia)Owns Macon. Ga., to Eufaula; Fort
Valley to Columbus, Ga„ &o., with branches total, 333 m. Leased for 101
/ears from Nov. 1 1895 to Central of Georgia Ry; rental 6% on stock.
A»
to suit, see V. 71. p. 809; V. 73, p. 1062.
Office, Macon, Ga.—(V. 110, p
872.)
1
SOUTHWESTERN RY.—See p. 140.,
SPOKANE INTERNATIONAL RY.—Owns
Spokane, Wash
to
East
port, Idaho, on Can. Pac. Ry., 141.37 m.; leases for 50 yrs. Coeur d Alene A
Fend d'Orellle Ry., Coeur d'Alene Jet., Idaho, to Coeur d Alene, 9.04 m.:
Corbin Jet. to Bay View, Idaho, 11.61 m., operated under trackage rights
In Spokane, 3.67 m., total operated, 165.69 m.
The Canadian Pacific Ky.
Co. on Dec. 31 1918 owned $3,941,800 capital stock. V. 103, p. 1981;
V. 99, p. 539; V. 89, p. 594.
Stock, $4,200,000; par of shares, $100. V. 81,
p. 156, 1551.
Year.
Gross Earns. Net Earns.
Oth. Inc.
Int., Ac.
Balance.
1920
$1,566,775
$493,195
$13,171
$332,698
sur.$173,667
1919
1,248,090
370,696
293,325
sur.77,371
_
Jan. 1 -Mar. 31
Jan. l-Dec,. 311921.
1920.
1920.
1919.
$304,852
$368,518
*1.566,775 •1.248.089
Net after taxes
i-_63,268
135,049
493,194
362,393
Pres.. Edmund Pennington; Sec., Geo. W. Webster, Minneapolis; Treas.,
A. T. Herrick, Spokane, Wash.—(V. 104, p. 2455.)
EARNINGS—
GroS
RAILWAY
126
Miles
&c., see notes on page 6]
Date
Par
Amount
Rate
When
Last
Bonds
Value
Outstanding
%
Payable
and
Maturity
143
22
Spokane International—First M$4,200,000? Col.vc*
Coeur d'A & Pead d'O 1st M $644,000 g gu.Us.vc*
495
$1,000
1,000
1905
1910
1.000
1911
$4,200,000
73.710.000
Ac
58
1911
1904
820
General mortgage
$20,000,000 gold (see text) ..so*
SPOKANE PORTLAND & SEATTLE
(549.98 m.)—
Miles.
Spokane,Wash.,to Portl.,Ore_.372.50
Goble, Ore., to Holiday, Ore.. 79.4l
Lyle,Wash.,to Goldendale,Wasb42.2l
Warrentou,Orc.,to Ft.Stevens.. 3.54
Road over.
Trackage rights
-
Leases Wllbrldge to Goble.
.17.03
Ore.35.29
From Vancouver, Wash., to a
to
as
an
820
156.26
UnltedRys.(V.90,p.l297, 1364)28.14
323: V. 107, p. 2188)
Great Northern Pacific 88
Oo
.
•
.
Ore., the line Is owned
1-3 by Nor. Pao. Ry
point near Portland,
undivided 2-3 by this company and
Jointly controlled by Northern Paolflc and Great Northern.
Stock auth.
$62,500,000: outstanding $40,000,000, equally owned by Nor. Pao. and
Great Northern, together with the $73,7t0.000 bonds Issued which were
Jointly guaranteed and held In treasuries of two oompanles
Of the 1st gold 4s of 1911 ($125,000,000 auth. Issue), redeemable at 106
and int. after March 1 1931. $80,000,000 are issuable for oorporate purposes,
$25,000,000 are reserved for acquisitions, stocks and bonds In other com¬
panies, and $20,000,000 reserved for Impts.. Ac., at not exceeding $1,600,000 a year. V. 92, p. 886. Govt, claim settled, V. Ill, p. 190.
Final
settlement, V. Ill, p. 163.
Equipment trusts ($817,500) issued to Director-General for rolling stock
allocated to this company.
See article on page 3.
Jan. l-Mar. 31
Jan. 1-Dec. 31
1921.
1920.
1920.
1919.
$1,661,193
$2,004,379 $9,154,845
$7,275,263
Net after taxes
76,771
349.913
1,330,734
1,428,221
In settlement with Government as of April 30 1920, compensation was
allowed at rate of $2,107,395 per annum.
Oorporate Income account based on estimated Govt, compensation:
EARNINGS—
Gross
Govt, compen¬
sation (est.).$3,417,226 $2,096,225
Other income.
54,975
36,815
Rentals & misc
tax accruals.
40,967
1918
1919
1918.
1919.
Bond, &c.,int.$4,397,720 $4,007,977
Amortization.
444,618
444,618
Misc. expenses
46,677
15,311
115,707
a
After
Balance, def__
1,457,781 a2,793,976
taking into account $2,332 for property adjustment prior to
$7,310 fo- revenues prior to Jan. 1 1918, and $333,760 for
prior to Jan. 1 1918.
Federal control,
expenses
Pres., W. F. Turner: V.-Pres.,
Chas. C. Rose.—(V. Ill, p. 190,
SPOKANE TERMINAL
Geo. T. Reid; Sec., Robt. Crosbie; Treas.,
1473, 2230, 2326, 2521; V. 112, p. 163.)
CO.—See
Electric Railway" aectlon.
SPRINGFIELD (0.) UNION DEPOT CO.—(V.
77. p. 770; V. 79. 2589
STATE LINE & SULLIVAN RR.—Owns Monroeton, Pa., to Berenice
Pa., 24.06miles.
Stook, $980,250 (par, $50). Dividend. 1%.paid Dec.7
1904
Mortgage covers 5,000 acres coal lands.
The bonds are subject to
call at 105 after 1914 at par.
V. 67. p. 1209.
Road leased till 1934 to
Pennsylvania A New York Canal A RR. (rental, $40,000 per
operated by Lehigh Valley.—(V. 74. p. 479: V.76, p. 332.)
annum), and
so
STEPHENV1LLE NORTH & SOUTH TEXAS RR.—Owns Gatesville
to Hamilton, Tex., 31.64m.; Edson to Comanche, 31.86m., and Hamilton
to Stephenville, 42.23 m.; total, 105.73 m.
Stock all owned by St. Louis
Southwestern Ry., which leases the road from July 1 1913 as part of its
Waco division.—(V. 96, p. 1090, 1490, 1841.)
STONY CREEK RR.—Norrlstown to Lausdale,
cracks, 14.15 m.
Stock. $300,000 auth. (par $50).
standing, the Reading Company owning $110,900.
interest, guaranteed by P. & R. RR. Co
(V. 85, p. 532.)
Pa.. 10.22 miles; total
of which $176,100 out¬
Bonds, principal and
SULLIVAN COUNTY RR.—Road from Bellows Falls to Windsor, Vt.
Operated since April 1893 by Boston A Maine as agent under
River, the Sullivan County receiving earnings over charges
with a minimum guaranty of 8% stock.
Stock, $500,000, owned by Vermont Valley RR.
For year 1920, gross,
$986,045; net after taxes, $186,839; other income, $46,025; deductions,
$41,047; surplus, $191,817.—(V. 105, p. 1414.)
26.04 miles.
lease of Conn.
SUNCOOK VALLEY RR.—Owns Suncook to Plttsfleid. N
FL . 17.65
miles.
Leased till Jan. 1 1912 to Concord & Montreal (merged into Boston
$240,000 of capital stock, and renewed for
two years at 3% on full capital stock, $341,700.
Operated under same
temporary arrangement on same basis as last renewal to April 1 1921,
but subject to termination on two months' notice by either party.
V. 93,
p. 1727; V. 94, p. 280.
Pres., Frank W. Sargent, Manchester, N. H.—
(V. 94, p. 280.)
&
Maine system)
for 6%
on
SU8SEX RR.—Stanhope xo Franklin, N. J., and branch. 30 miles,
upor
by Del. Lack. A Western, which owns a majority of the $1,638,604
Dividends from earnings of 1899, 3%; 1900. 4%; 1901 to 1903, both
ated
stook.
1907 and 1908, noDe
1919: Gross, $228,873:
deductions, $9,404; bal.,
Inol., 2% yearly; 1904, 5%; 1905, none; 1906, 5%:
1909, 2%: 1910 to 1920, none.
Year ending Dec. 31
deficit, $110,339; other income, $3,278;
def., $116,465.
oper.
SYRACUSE
,
Y.. to
Stockholders voted Dec. 6 1911 to lease the
BINGHAMTON & NEW YORK RR.—Geddes. N
Binghamton, N. Y., 81
mile*.
road daring its corporate
existence to the Del. Lack. A Western RR. for
12% on the $2,600,000 stock, of which the leasee at last advices owned
$2,165,400.
Lease took effect Oct. 1 1912.
In the suit of minority stock
Glegerlch In the Supreme Court In N. Y. on Nov. 16 1916
decided that the lease of 1912 was Inequitable to the minority Interests
This decision unless reversed will necessitate the modification or annulment
of the lease.
V. 103, p. 1982; V. 95, p. 481.
DIVS.
I '88. '89, '90. 91.—1892 to 1909— '10 to 12. Since to 1920.
Per cent.--/
12
8
8
13 8 y'ly (2% quar.)
10 yrly
12 yearly.
—( V
94. p. 828:4 V. 95. p. 481; V. 103. p. 1982: V. 106. p. 601.)
holders Justice
.
TALLULAH FALLS R Y-—Owns Cornelia, Ga.. to
miles.
Southern Ry. owns $200,000 common stock,
and $123,400 pref. stock and $1,519,000 bonds are
Franklin, N. G„ 58
of which $199,500
deposited under its
J Jan
1 1921
1H Manchester. N H. Nat Bk
May 1 1921 3% D L A W RR Co, N Y
Guaranty Trust Co. N V
6 t
J
New
Oct
O Apr 1 1949
J
A
J July 1 1936
MAN Nov 1 1940
A
text F
I
J
A
J July 1
A
A Baltimore
lot not paid
York
1914
Old Colony Tr Co. Boston
Safe Dep A Tr Co, Bait
1921
A
A Feb
J Jan
Interest not paid
In default since July 1916
1 1961
A
1 1934
1 1916
Aug 20 1916
Apr
6
Nov 1 1918
6
Sale of road
6
J
5 g
In default since
11954
J Jan
A
July 1908
Development and General mortgage. V. 88, p. 687, 750, 884. Year ending
31
1917, gross, $128,030: oper. def.. $2,666; other income, $463;
$77,863; bal., def., $80,067.—(V. 88, p. 750, 884.)
Dec.
charges,
32.9
Pac. A East. Ry.(V. 108, p.579)
Eleo
Ry. (V. 92, p.
Oregon
Safe Dep A Trust Co, Boa
!■
8,353,900
1,000
RY.—(See Map Northern Pacific.
1 1924
MAS Mob 1 1959
A
A
O Apr 1 1953
5
5 g
5
1.850
Corporations Controlled—
Miles.
Oregon Trk.Rv.(V. 89. p. 666).156.9
O Apr
Q—F
12
4.014,000
330.000
15,899
18,655
1917
1919
1904
NY and ComTrCo. St L
Reading Terminal, Phlla
A
A
299.000
1915
-
—
Union Trust Co. N Y
11929
A
4
See text See
1915
—
certificates
Central Union Trust,N T
J July 1 1940
1 1957
O Oct
A
!■"
2,500,000
1,519.000
750,000
480,000
1,258.000
225,000
—
Receiver's
J Jan
do
do
S Men 1 1961
A
J
341,700
1,000
1,000
1,000
1,000
1,000
1,000
1910
1890
32
Z
Amer Kxcb Nat Bk. N 1
July 1 1960
A
RR
a
1913
1909
1906
Tampa Union Station Co—First mortgage
Tavares A Gulf RR—1st M gold
-_-_.___._Bax
Tenn Ala & Ga—1st M $5,000,000 g red 110--Em.xc*
Tenn Cent—Prior lien M $4,200,000g red 110-MStxo*
Receiver's certificates (V. 104, p. 1900).Receiver's certificates
272,000
2,607,000
350,000
357.000
1909
77
(1
Tampa & Gulf Coast—1st M g gu red 105.CoBa.xc*
Tampa & Jacksonville—First mtge (see text)
Ox
Tampa Northern—First M $5,000,000 g red 106__0Bx
faliuiah Falls—First mortgage
A
5 g
4 g
Where Interest anc
Dividends are Payable.
July 1 1955
A
tg
544,000
$126,000,000 g red text—Ce.o&r
al KK
jpuyten Duyvil & Pt Morris—See New York Centr
1,000
1898
24
state Line & Sullivan—First M $300,000 gold. Un.xo*
B altlmo re & Ohl
itaten Island Ry and Staten Island Rapid Transit— See
1910
1,000
105
Stephen North & So Texas RR—1st M g gu red 105c*
1872
1,000
10
itany Crk—lstM$350.000extk07 gu (V 85,p532) _FPx
1894
1,000
Suillvan County RR—First mortgage $400,000
xo
See Pe nnsylvanl
Sun bury Hazieton & WUkes-Barre—Sun bury A Lewis town100
Suncook Valley—Stock (3% rental
Bos. A Maine) _
ia" "
Susquehanna Bloomsburg & Berwick—See Penn sylvan
100
81
Syracuse Binghamton & N Y—Stock 12% rental
r>pok P A S—1st M
Receiver's certificates..
Places
Dividend
Road
RAILROAD COMPANIES
[For abbreviations,
[VOL. 112.
STOCKS AND BONDS
TAMPA
&
GULF
from
RR.—Operates
COAST
St.
Petersburg to
Tampa, Fla., 55.02 m.. Including trackage, 7.54 miles; Tarpon Springs RR.,
Tarpon Junction to Port Richey, 31.7 miles.
Has a 50-year trackage agree¬
ment with Tampa Northern RR., giving entrance into Tampa and use of
Tampa terminals.
The Seaboard Air Line Ry. guarantees the bonds, prin.
and interest, but does not own the stock.
Of the 1st 5s ($5,000,000 authorized issue) the remainder is issuable
for extensions or branches at $12,000 per mile. or. In case net earnings for
a
preceding vear shall have been 1 4$ times the Interest on outstanding
additional bonds may be Issued to such an amount that the total
bonds,
shall not exceed $17,500 per mile of main track.
V. 96, p. 1425.
Pres.,
Charles H. Brown; Treas., R. L. Nutt, New York.—(V. 96, p. 1425.)
City to Emathla. Fia. 56
Issued. $604,900.
Tne first
TAMPA & JACKSONVILLE RY.—Sampson
Stock auth., $1,000,000;
m.
$100;
par,
6s are limited to $10,000 per mile.
V. 89, p. 1543.
Coupons
1914 in default.
Bondholders' committee: Henry L. Cohen,
Chairman, H. A. Smith, Hartford, and Wm. Shillaber Jr., New
Graham Adams, 61 Broadway. Sec.
Year ending Dec. 31 1918, gross, $88,332; net, $17,181;
$26,000; other charges, $19,856; bal., def., $28,675.
In
due Oct. 1
61 Bway.,
York, with
interest on bonds,
1917, gross, $74,F. J. Lisman, N, Y.; V.-P. A Gen. Mgr.,
Fla.; Sec., W. G. Edlnburg, New York.—
1543; V. 103, p. 1302.)
797; bal., def., $20,037.
Pres.,
A. de Sola Mendes, Gainesville,
—(V. 89, p.
Fla., to Brooksville, 50 miles.
Seaboard Air Line Ry. acquired entire stock. V. 95, p. 49,
TAMPA NORTHERN RR—Owns Tampa,
In July 1912 the
112.
Stock, pref.. $250,000; common,
$500,000.
Bonds authorized Issue
($5,000,000) are limited to $10,000 per mile of road, 80% of the cost of new
equipment and the actual cost of terminals, V. 87, p. 814: V. 89, p. 1484.
Seaboard Air Line Ry. guarantees $200,000 notes and has deposited as se¬
curity therefor $480,000 of 1st & consol. M. bonds.
V. 95, p. 892.
Pres.,
8. Davies Warfield, Baltimore; Sec. & Treas., R. L. Nutt, 24 Broad St.,
N. Y.—(V. Ill, p. 793.)
TAMPA SOUTHERN
RAILROAD.—(V. 110, p. 872.)
TAMPA UNION STATION
Coast Line RR., Seaboard Air
Gulf Coast RR.
CO.—Property used jointly by Atlantic
Line, Tampa Northern and Tampa A
Ellsworth Jet. to Ocoee, Fla., 28.02
TAVARES & GULF RR.—Owns
Clermont. Fla., 5.93 m.; trackage, Tavares to Ells¬
3.39 m.; total, 37.34 miles.
Incorp. Mar. 27 1890.
Stock.
miles; Wait's Jet., to
worth Jet.,
$250,000;
par.
Bonds, $299,000 1st 5s (auth. $9,000 per
$100.
1920, gross, $65,142; net after taxes, def.,
def., $54,414.
For year 1919, gross,
net, after taxes, def., $34,336; interest, &c., $34,534; bal., def.,
Pres., Henry H. Jackson; Sec., S. H. Jackson, New York.
Office,
Fla.—(V. 112, p. 654.)
see
table.
For year
interest, Ac., $35,709; bal.,
mile);
$18,705;
$40,660;
$68,871.
Tavares,
TEMISCOUATA RY.—(See V. 107. p. 1838.)
TENNESSEE ALABAMA & GEORGIA RR.—Owns road from Tennessee
State line to Gadsden, Ala,, 86.74 m.; branch, 1.38 m. trackage to Chatta¬
nooga, 7.85 m.
V. 91, p. 1628, 336; V. 92, p. 323.
Gen. Mgr., Charles
Hicks was appointed receiver in Dec. 1920.
V. Ill, p. 2424; V. 112, p.1284.
STOCK.—Authorized, common, $2,350,000;
preferred, $750,000.
auth. issue), $1,500,000 nominally issued,
none actually outstanding.
These bonds bear interest at 5%, except the
first $1,000,000, which for the first 5 years were entitled to interest up to
5% only in so far as earned, payable semi-annually, and thereafter to fixed
interest at 5%.
V. 92, p. 528, 323.
To April 1921 no interest had been
paid on the bonds and none had been written up.
For 1920, gross,
$178,461; net, def., $129,954; deficit after charges,
BONDS.—Bonds ($5,000,000
$138,645.
Pres., J. J. Slocum; V.-P., Henry
Treas., E. C. Osborn. Exec, office,
W. de Forest; Sec., H. B. Blanchard;
111 B'way, N. Y.—(V. 112, p. 1284.)
TENNESSEE CENTRAL RR.—Harriman,
Tenn., westerly to Hopkins,
Branobes, 40.44 miles; sidings and spur tracks. 76-91
terminals, 20.17 miles; total, 370,59 miles.
Leases
till 9001 Nashville Terminal Co. (terminals, bridge and 17.95 miles of track).
V. 79. p. 213: V. 87, p. 39.
City of Nashville owns $1,000,000 cap. stock.
On Dec. 31 1912 receivers were appointed; W. K. McAllister and H. W.
Stanley are now receivers.
V. 110, p. 1291.
Jan. 1913 coupon on
general mortgage In default.
The foreclosure sale has been adjourned
from time to time.
To be sold subj. to $4,014,000 undisturbed Prior Lien
Mtge. bonds of 1904:
The Court in Nov. 1920 denied the application made
on behalf of the Southern Ry. to foreclose the Prior Lien 4s of 1904.
V .111,
p. 2042.
Suit to foreclose, V. Ill, p. 2141, 2326.
Motion for sale denied,
V. 112, p. 1145, 1868.
Nashville Terminal Co. rent paid in full to July 1
1920.
Govt, loan and sale of bonds, V. 112, p. 2191.
The Illinois Central which on Dec. 31 1919 owned $1,338,000 Prior LIod
bonds will. It Is believed, eventually buy In the property.
ville, 253.24 miles.
miles; lines at Nashville
SECURITIES.—Stook outstanding. $8,000,000. all common (par
The prior
lien 4s of 1904 (originally 5s, stamped
$100.)
4%) are subject to call at
Y, 80, p.1059
(Chairman);
Lewis B. Franklin, 28 Nassau St.. Secretary: Guaranty Trust Co., N. Y..
depositary.
V. 96, p. 204, 488; V. 102, p. 1810; V. 10-3, p. 1119.
Gen. mtge. 5s ($20,000,000 auth., Merc. Tr. Co. of 8t. Louis, trustee),
V. 78. p. 1783; V. 79, p. 213.
The Nashville Term. mtge. Is for $1,000,000;
see that company and V. 104, p. 257.
Current liabilities Dec. 31 1919,
110.
111. Central RR. and Southern Ry. own most of the 4s,
Protective Committee for Qen. 5s.—Alexander J. Hemphill
$5,553,450.
Jan.
Net after taxes
l-Mar. 31
Jan.
1-Dec. 31
1920.
1919.
1921.
,
1920.
$597,081
EARNINGS.—
Gross
$703,236
$2,928,925
$2,489,537
def71,331
def2,860
defl03,160
def402,498
MAY, 1921.]
RAILWAY
RAILROAD COMPANIES
[For abbreviations, &c.,
see
BONDS
127
Miles
notes on page
Date
Par
Amount
Rate
When
Last
Dividend
Places Where Interest and
Road
6]
Bonds
Value
Outstanding
%
Payable
and
Maturity
Dividends are Payable
Tennessee Ry—First mtge $4,500,000 gold—Gxo*Ar
Terminal Railroad Association—First mtge cold G.ve*
First Consolidated mtge $12,0(K>,000 fold—Gxc*
56
Gen M Ref $50,000,000 f s t call (text»—Ce-xc'Ar*
St Louis Bridge Go 1st pref stock guaranteed
-
Second preferred stock guaranteed
First mortgage gold
STOCKS AND
1907
1889
1894
1903
$1,000
1,000
1,000
1.000
(endorsed)..
Ac
100
5 g
$1,130,000
7,000,000
5,000,000
O Oct
A
A
O Apr
J Jan
A
A
In default
P
Morgan A Co, N
do
3%
'211 H%
1 1921
3%
do
do
1921
1 1929
I
do
da
1 1953
J Jan 1
J Jan 1
A
A
7 g
6
1 1937
1 1939
Aug 1 1944
J Jan
A
t*
2,490,000
3,000,000
5.000.000
1,250.000
100
A
5 g
21,700,000
,.xc*
500 Ac
1879
Tunnel RR of St Louis stock guaranteed (endorsed)
Terre Haute & Indianapolis; Terre Haute & Loganspor t—See Vanda lia RR "
MAS Mch
4H 8
do
do
do
New York and London
J P Morgan A
Co, N Y
Terre Haute & Peoria—
First mtge 42,500,000 gold guar p & 1 (end) _Un.sc*
Texas Central—Common stock 42,675,000 authorized
138
309
Burrs
208
Ferry Browndell A Chester first mortgage—
1,387
1,387
456
Additional amounts held In treasury and by
c.
Sept 1 1942
5
J
A
See text
5
J
A
See text
A
1.000
2,000.000
1.000
2.000.000!
F
A
6
F
A
1,000
1.000
862,000
1.620.000
3.997.000
5 g
J
4 g
F
A
5
A
A
A 5 g
4
A
165.000
6
A
A
1888
1,000 ai4,989,000
1,000 b24.662.000
5 g
J
A
June 1 2000
c4,970,000
5g
J
90,000
250.000
720.000
5
J
A
5 g
J
A
5 g
F
A
239.500
5 g
VI
A
1893
1888
1901
1,000
1,000
1,000
1912
1917
46
truste
Penn RR Co,
61 Broadway,
1852
Dec
es
1.000
$500
Ac
31 1919
Corp. income account, cal. year 1920, gross, $2,437,280: net after taxes,
other income, $587,954; deductions, $960,358; bal., def.,
of:
a
5 g
A
March
1943
1930
1923
1937
1 2000
None
do
ever
So Pao,
Y
Y
do
do
•
Jan
&
$11,00 0: b $338 ,000;
TERRE HAUTE &
Deo
1 1923
1 1938
1 1935
1
1
1
1
N
N
do
Apr
Aug
Aug
July
Aug
Aug
Apr
1916
—
b,
A
1908
1900
Equip bonds, series BB, due 430,000 seml-an
x
do
ao
do Series DDdue 425,000 s-a
do
do
do Series EE due $60,000 s-a
Tioga RR—First M extended In 1882 A 1915 gold__z
a,
M
1893
1875
Q.so*Ar
at Pacific—First consol (now 1st) Mg- FP.xc4
Second Cons Ino M (425.000,000) g (see rem)_Ba.xc*
Louisiana Dlv Br lines 1st M gold 412.500 p m.Bax
5 x
1907
111
Dallas Dlv 1st M gold 420.000 per m (text) -Un.sc*
Texas Transportation first mortgage (not assumed)
Texas
1.000
350.000
Texas Midland RR—First Refunding mtge 42.500,000
Texas & NOof 1874—Main line first mortgage
mortgage for 44.195,000
2.230.000,
2,675.000:
1.325.0001
Preferred stock non-cumulative 41,325,000 auth..
First M 42.000.000 gold red 110 (4150,000 4s) .F.xc*
Consolidated
1892
paid
165
B'way,"
do
N
~i"
do
do
do
Oommonw'th Tr Co. StL
Bankers Trust Co, N Y
3V4% paid Mob 1 1908
1 1931
Bankers Trust Co, N Y
Dec *21-Dec "32 Biair A Co, New York
July'21-Jan '26 Blair A Co, NewYork
Aug 21-Feb '27 Equitable Tr Co, N Y
Nov
c
1
1935
ErieRR,50Ch'chStJg,
Y
$ 713,000.
PEORIA
RR.—(See Maps of Pennsylvania RR.) —
def., $108,437;
$480,841.
Road operated from Terrre Haute, Ind., via Decatur, to Peoria,
111., 174 m.
of whtoh 138 m. are owned and half Interest owned In 8 m., and
28 m. is
Chairman of Board, Eben Richards, N. Y.; Sec., D. R. Carpenter, Nash¬
ville; Treas., H. L. Williamson.—(V. 112, p. 163, 1145, 1868.)
trackage
TENNESSEE KENTUCKY & NORTHERN RR.—Leases for long term
Cincinnati Nashville A Southern Ry., which extends from Algood, Tenn., on
Central RR. to Livingston, 17 miles.
Y. 98, p. 238.
The
Tennessee
Cincinnati-Nashville South. Ry, is successor
to Overton County RR., fore¬
13 1912; V. 95, p. 481.
The Cin.-Nash. Sou. Ry. has issued
$25,000 stock and $150,000 1st M. tax exempt 25-yr. gold 5s, due Oct. 15
1937: int. A. A O. at Colonial Trust A Savings Bank, Chicago, 111., trustee;
denomination $1,000 each.
The Tenn. Kentucky A Northern has issued
$10,000 stock and no bonds.
Pres., Mrs. P. E. Clark; V.-P. A Gen. Mgr.,
Sec. A Treas.,T.C. McCampbell, Nashville, Tenn,—(V.112, p.
closed Aug.
1868,2191.)
TENNESSEE & NORTH CAROLINA RY. CO.—A reorganization, as
of June 26 1920, of the Tennessee A North Carolina RR,
Operates New¬
port, Tenn., to Crestmont, N. C., 19M miles (3 miles over leased track).
Leases Pigeon River Ry., West Canton to Spruce, 17 miles; total operated,
41.48 miles.
Thf road was bought in on June 7 1920 for $200,000 by Fred
Ely of Philadelphia on behalf of A. J. Stevens, representing the bondholders.,
Ceoital stock authorized, $250,000; outstanding, none.
Pres., C. Boice;
V.-Pres.. W. J. Parks; Sec. A Treas., J. W. Bell.—(V. 110, p. 1189, 2658.)
TENNESSEE RR.—Organized in 1918 in Tennessee, following a receiver¬
ship of the Tennessee Railway (V. 107, p. 502).
The main line as now oper¬
ated extends from Oneida to Fork
Mountain, about 45 miles, with several
Scott, Campbell and Anderson counties.
The main
line and branches are chiefly used to handle timber and coal.
The I.-S. C. Commission in Jan. 1921 authorized the company to con¬
struct a branch line of road from a point on the main line at the mouth of
Beech Fork of New River, Campbell County, Tenn., in a southeasterly
direction along Beech Fork and Rocky Fork in Anderson County, a distance
of about six miles.
V. 112, p. 470.
it was reported in Jan. 1921 that the road had been placed in the hands of
short branch lines in
a
receiver.
Income account for the year ending Dec. 31 1919 shows a gross income of
$13,448;
deductions for hire of equipment and interest on funded debt
$20,249, leaving a deficit of $6,801.—(V. 112, p. 470.)
amount to
TERMINAL RR. ASSOCIATION OF ST.LOUIS.—PROPERTY.—Owes
with belt lines and bridged,
a
tunnel 4,800 feet in length; owns and operates East St. Louis A
CarondeletRy., 7.78 m.,slnoe 1903.
V. 74, p. 479; V. 83, p. 1168.
Touch¬
ing the Missouri A Illinois Bridge A Belt RR., see that co's statement
and operates extensive terminals at St. Louis,
and
ORGANIZATION.—Organized
In
1889.
The following companies
are
sole owners: Cleveland
Cincinnati Chicago & St. Louis, Louisville A Nash¬
ville, St. Louis Iron Mountain A Southern, Baltimore A Ohio Southwestern.
Missouri Pacific, Wabash, Pitts. Cin. Chic. & St. Louis RR., Chic. Rock
Isi. A Paciflo, St. Louis A San Fran., Chic. A Alton, Chlo. Burl. A Qulnoy,
111. Cent., Southern Ry„ Mo. Kan. & Tex. and St. Louis Southwestern.
V. 75. p. 1355: V. 76, p. 103.
These companies agreed under oontract to
use the property forever and pay as tolls the interest, taxes, rentals and
other charges, each
line to contribute its proportion to the extent of
one-fifteenth to make up any deficiency from unforeseen circumstances.
See
V.
79.
See also St. Louis Merchants' Bridge Terminal RR.
V. 88, p. 1374; V. 90, p. 373: V. 91. P. 39.
Decision of U. S. Supreme Court permitting all would-be tenants to use
the property, see V. 94, p. 1187; V. 95. p. 545, 1208, 1685: V. 96, p. 136.
1774; V. 98, p. 764, 1394. 1994: V. 100. p. 1734.
In Aug. 1920 the Missouri Kansas & Texas, St. Louis-San Francisco,
Chicago Rock Island A Pacific and the Missouri Pacific, members of the
Association, filed a motion in the U. S. District Court at St. Louis .alleging
p.
499.
Government suit.
that the Terminal Railroad Association has failed to
comply with an order
reorganization ordered in a decree
1187)
A receiver is asked for pending enforce¬
ment of the order.
V. Ill, p. 794.
Federal Compensation.—$2,574,510 yearly during Federal control.
of the Supreme Court with respect to a
on
April 22 1912 (V. 94,
p.
.
LEASES.—The leases of the Bridge and the Tunnel are for their corporate
existence, and were made
July 1 1881.
As to litigation,
see
V. 77, p. 299,
512; V. 78. p. 1908, 2443. 2600; V. 81. p. 32. 1666.
STOCK.—Authorized.
-
REPORT.—Year
ends
Dec.
31:
other roads.
From Oot. 1
1892
leased for 99 years to the
A
Indianapolis at rental of 30% of gross earnings, with a
minimum sufficient to pay int. on debt, the lease being assumed Jan. 1 *17
by Pitts. Oin. Oh. A St. L.
V. 104. p. 73; V. 55. p. 766; V. 81, p. 212.
Lessee owns $646,700 of the $1,837,400 pref. and $1,570,400 of the
$1,926,800 common, and Pennsylvania Oo. Dec. 31 1919 owned $1,168,700
pref.
and $269,300 common.
BONDS.—The consols (Union Trust Co., N. Y„ trustee),
carry the
guaranty of the T. H. A Indianapolis.
In 1905 all back coupons were paid,
V
81. p. 156, 212: V. 72. p. 481. 873.
See guaranty. V 81. p. 212.
EARNINGS.—For year 1919, income from rentals,
Ac.,
$286,086
interest, rentals, Ac., $275,190; preferred dividends (3%), $55,122, paid out
of surplus.
TEXAS CENTRAL RR.—(SeeMap Mo. Kan. A Tex.)—Waco to
Rotan,
Tex., 268jm.; branch to Cross ?2a5?8'
mL Firsjb_5s, V.
Mo. Kan. A Tex. Ry. of
p. 1437; V. 91, p. 95, 1631; V. 90, p. 1556.
Texas leases the road for 99 years from May 1 1914, with
authority to
purchase the same, Ac.
Of the stock $1,310,000 pref. and $2,672,300 common Is pledged as
part
security for M. K. A T. Ry. Consols of 1910.
93,g. 1325LV. 92,
DIVS.—%—'01.'02 to '04. '05 to*07. '08to'll. '12.'13.1914
1915- 20.
Common—
2H 2Hy'ly.
5 yearly.
0
5
5
5 5-6
Below
Pref.._%
7H 5 yearly
5 vrly.
5 yrly.
5
5
8 1-3
Below
Dividends paid under lease, 5% on both classes, July 1914 to
July 1920.
Earnings for year 1918: Total available income, $299,788; int. on bonds.
$98,500; pref. divs. (5%), $66,250: com., divs. (5%), $133,750; miscellane¬
charges, $1,288; bal., income,
ous
Pres.. O. E
Hchaff
none.
Sec. A Treas., A. T. Clifton.—(V. 104, p. 766, 2012.)
TEXAS CITY TERMINAL RY. OF TEXAS.—(V. 112, p. 373.)
TEXAS MIDLAND RR.—Road from Ennis on Houston A Texas Central
Ry. to Paris, Tex., 125 miles, of which 14 trackage over St. Louis South¬
Extension from Commerce to Greenville, Texas, 14
miles, was
authorized in April 1921.
V. 112, p. 1868.
Valuation 1917, see V. 105,
p. 1803; V. 104, p. 164; V. 107. p. 907.
Stock, $112,000; par, $100.
Year end. Dec. 31 1917, gross, $718,994: net. $177,553; hit,
taxes, Ac..
$180,401; def., $2,848.
Pres., E. H. R. Green; Treas., W. P.
Allen,
Terrell, Tex.—(V, 112, p. 1868, 1979.)
west.
TEXAS A NEW ORLEANS RR.— (See Map So. Pac.)—Houston, Tex,,
to Orange (Sabine River). Ill miJes;
and Sabine Pass to Dallas, 314 miles,
sundry branches, 45 miles; total Dec. 31 1919. 470 miles.
Annual compensation under Federal contract, $715,136.
SECURITIES, AC.—The stock is $5,000,000, ail but $900 owned by the
Southern Pacific.
Dividend of 20% paid in 1909-10 from accumulated sur¬
plus.
Of the $3,997,000 Dallas Dlv. 1st 4s, $540,000 are owned
by the Sou.
Pac. Co. and $179,000 are owned by the proprietary
companies.
Of the
$862,000 main line first 30-year 6s, $522,000 were on Dec. 31 1919 held in
the Sou. Pac. treasury and the remainder in the sinking funds of
proprie¬
tary cos.
There were also $2,575,000 Sabine Division bonds, all held by
Sou. Pac. Co. Dec. 31 1919.
Equipment 6s, $204,000, all owned by Sou.
P&C*
•t
Jan. 1—Mar. 31
EARNINGS.—
Gross.
1921.
1920.
Jan. 1—Dec. 31
1920.
1919.
$2,238,596
$2,367,373 $10,001,849
$8,140,177
Net after taxes.
def.99,814
42,348defl,007,468
612,669
In 1919, standard return, $715,136; other
income, $127,563; deductions,
$827,937; net income, $14,761.
In 1918 "standard return," $715,136; other
Income, $56,981; interest
—
charges, Ac., $706,453; expenses prior to 1918 (net), $42,827; bal.,
sur.,
In the year ending Dec. 311917, gross, $6,410,077; net, incl. other
Income,
$2,347,987; interest, rentals, Ac.. $1,005,919; bal., sur., $1,342,067, against
deficit of $49,746 for year 1915-16.—(V. 103. p. 1211.)
TEXAS & PACIFIC RY. —uVce Map Mo. Pac.)—New Orleans, La., west
Tex., 1,150 miles; Marshall via Texarkana Jet. and Whitesboro
Worth. 335 m.: Opelousas branch, Melville to Crowley, La., 57 m.;
branches. 402 m.; total, 1,947 m., deduct 96 m.. Sierra Blanco to El Paso,
to El Paso.
to Fort
balance owned, 1,851 m.
On Oct. 27 1916 J. L. Lancaster and Pearl Wight of New Orleans were
appointed receivers on application of Receiver Bush of the St. Louis Iron
Mtn. A So. Ry.. $410.04(5 of the Judgment of $842,000 obtained
by him in
Dec. 1915 remaining unpaid.
V. 103, p. 1688.
In July 1918 Mr. Lancas¬
ter was made Fed. Mgr. of this And other roads. Mr. Wight
becoming sole
receiver.
V. 107, p. 182, 803.
Mr. Wight resigned in Dec. 1919 and J. L.
Lancaster and Chas. L. Wallace were appointed receivers, Mr. Lancaster
resigning as Federal Manager.
V. 109, p. 2263.
Oil prospecting in 1919,
V. 108, p. 481, 1722, 2123; V. 109, p. 168.
ORGANIZATION.—In 1888 reorganized (V. 43, p. 164: V. 45, p. 401)
without having foreclosure sale confirmed, thus preserving Federal charter.
The Trans-Mississippi Terminal Co., which was formed to
build New
Orleans terminals, in 1914filed a mortgage to secure $7,500,000 bonds.
The
Texas A Pacific and Missouri Pacific Ry. each owns one-half ($1,000,000)
of the stock and guaranteed its bonds, pledged to secure a note issue of
which $3,653,000 were outstanding on Nov. 1 1920.
Permission was asked
1920 to extend these notes from Nov. 1 1920 to Nov. 1 1923, the
stockholders having ratified the plan.
V. 102, p. 68; V. 104, p. 2005;
V. 105, p. 1523, 1709; V. Ill, p. 1754.
In Oct.
Suits—On Dec
Year—
Grass.
Net
Other Inc.
Charges. Bal.. Sum
-$4,649,623 def$136,614(x)$3,159,702
$2,700,447
$322,641
1919
(x)$2,813,912
$2,805,684
$8,228
1918
(x)$2,756,911
$2,762,829 def$5,918
1917
$3,381,362
$1,024,770
1,568,823
2,478,888
114,705
(x) Includes compensation due from U. S. Govt.(subject to amendment.)
Pres.. Henry Miller; V.-P. A Gen. Counsel, T. M. Pierce; Sec., C. A.
Vinnedge; Treas., G. H. Steinberg.—(V. Ill, p. 794, 1184. 2230.)
1920
by
over
Haute
trackage;
$50,000,000: outstanding $3,087,800.
BONDS, Ac.—Of the Gen. M. Ref. 4% s.t. gold bds.of 1953 ($50,000,000
auth.), $17,500,000 are reserved to retire existing bonds and $3,218,000
for Issue at not over $1,000,000 yearly for improvements and acquisitions.
A slnk.fd. commenced July 1 1906retires $100,000 of these bonds yearly
by lot at 110 and int. if not purchasable for less; $1,500,000 bonds have been
canceled by sinking fund.
The entire issue Is subject to call at 110 and int.
■luce Jan. 1 1910.
See V. 76. p. 267. 383, 481, 807; V.179, p. 499; V. 83, p.
1168; V. 85. p. 1647; Y. 99. p. 50; V. 100, p. 1079; V. 104, p. 2642.
Guarantees $3,500,000 St. L. Merchants Bridge Ter. 1st 5s and interest
on $2,000,000 1st 6s of Merchants' Bridge.
See those companies.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
Seearticle on page 3.
Government loan, V. Ill, p. 1184, 2230,
-Jan. 1 -Mar. 31-Jan. 1-Dec. 31EARNINGS.—
1921.
1920.
1920.
1919.
Gross
$1,124,370
$1,154,954
$4,758,433
$4,002,716
Net after taxes
127,647
53.284
27,178
136.361
ANNUAL
Terre
.
M.
27 1915 the Bankers Trust Co., as trustee under the 2d
(income) bonds, filed suit for
a
receivership on request of receiver Bush
of the St. Louis Iron Mt. A So. Ry. (now Mo.Pac. RR), owner of $23,703.000 of the $25,000,000 2d M. bonds, on which It is claimed Interest has been
earned but not paid.
This suit was dismissed May 22 1916 for lack of Juris¬
diction, but on May 26 a new suit was begun in Louisiana.
V. 102, p.
988, 2078.
On Dec. 31 Mr. Bush filed suit in Louisiana to recover on $842,000 6% promissory notes due June 1 1915, held by his roads.
On Jan. 4
1916 the Gould estate secured an attachment In N. Y. State for $1,741,000
Date
Par
Amount
Bate
When
Rood
Ac., see notes on page 6]
Bonds
Value
Outstanding
%
Payable
103
Toledo Col & Ohio Rlv—Cleve & Mar 1st M g gu F.xo*
Tol W V A O 1st MV'A" guar p to 1 (end)
F.xo*
} 24l{
($15,700 per m)["B"
do
do
xo*
•4,000 000 gold_J"0"
do
do
sk.fa.xo*
Tol & Ohio Central—Oom stock ($6,500,000 auth)„
Preferred stock ($3,708,000 auth)
First Mortgage gold (V 63, p 436)—
Ce.x
969.000
395
60
60
do
first pref ino $500,000 non-oum 4%-Q.r
Equipment trust certificates
ao
do
due $120,000 annually
Guaranteed Bonds—Kan to Mich Ry—See that oo
Toledo Peoria & Western—1st M (for $5,000,000) F vo*
Toledo St Louis to West—Oom stock $10,000,000
Preferred stock 4% non-cumulative
Prior lien mortgage $10,000,000 gold...—F.xoAr
First mtge g $6,500,000 red after July 1925-Eq Jto&r
Coll tr bonds secured by C to A stook, Ser A_Ce.xo*
do
do
do
Ser B
x
Freight to locomotive equipment notes June 1 1921
Toledo Terminal—FirstM$6,000,000 g int guar .Col .x
1885
1892
1894
1901
1901
1913
1917
1,000
1,000
1,000
1,000
1,000
1887
1,000
230
1,000 &c
1,000 too
1.000
1,000
1900
1900
1907
451
451
1907
Y.ooo
1957
31.27
Mtn. on March 1 1914 and assigned to
V. 102, P. 154, 2167; V. 103, p. 1505, 2239.
the
STOCK.—Authorized, $50,000,000:
Issued, $38,763,810;
par, $100.
Missouri Pac. RR. Dec. 31 1920 owned $10,000,000 stock and $23,703,000
2d M. bonds and $2,979,420 6% notes due June 1 1915.
Stockholders' Protective Committee.—Alvln W. Krecb, Pres. of Equitable
Trust Co., Chairman.
Depositary, Equitable Trust Oo.
V. 102. p. 154.
Samuel Armstrong. Sec., 37 Wall St.
„
Protective Committee
for Minority Income Bonds.—Mortimer
Chairman; Herbert W. Morse, Sec., 26 Broad St., N.
New York Trust Oo.
V. 102. p. 610; V. 103. p. 1688.
Y.
„
N. Buckner,
Depositary.
78, p. 1448.
of 1902) are
V. 78, p. 344. The
BONDS.—See 1888 mortgage abstracts, V. 47, p. 82;
V.
The Weatherford Mineral Wells to Northwestern ($660,000 5s
guaranteed, principal and Interest, by endorsement.
$100,000 Denlson to Pacific Suburban 5s are also guaranteed.
Trans-Miss.
Terminal notes, see caption of that company.
Louisiana Branch Lines mtg. is limited to $7,000,000. V. 72, p. 577,1189.
On 2d M. income 5s there is no right to foreclose unless default is made oo
1st mtge.
All except $960,000 of the 2ds have be en exchanged for 65% in
St.Louis Iron Mtn. to S. 4s.
V. 68, p. 525, 619, 7 25, 774; V. 70, p. 533.
mtge.U900. 1901. 1902 to 1907. 1908. 1909 to 1920.
/ \ M
4
5 yearly.
3H
0
5s due Apr. 1 1942 of the Union Terminal Co., Dallas,
guaranteed jointly with seven other proprietary
companies.
Interest on second
Incomes (%)
The $5,000,000
Tex., are
Equipment trusts of 1917, see V. 104, p.
864.
In Oct. 1920 principal and
had been paid regularly when due.
Nov. 1920 auth. the company to issue $477,000
6% Receivers' Equipment notes, to be dated Sept. 1 1920 and maturing
semi-annually 1921 to 1930.
V. Ill, p. 1853.
4 g
4,895,000
9,995,000
9,952,$00
9.575.000
6,500.000
6,480,000
5,047,000
1,111,200
4,600,000
100
100
notes made to the Iron
estate in Aug. 1915.
4 g
1,137,000
5,846.300
3,701,400
3.000,000
I *
2,500,000
5 g
2,000,000
4 g
500,000
500.000 Oct 1 If
1,706,584
720,000
4H
1,000
100
19?
Text
4H g M
4H g J
4H g J
$1,180,000
1,494,000
1,000
100
Western Division first mortgage gold.
N.xc*
General mtge (V 62, p 594) ($2,000,000) g —Ce.xo*
St Mary'* Division first mtge gold $500,000--G.XC*
on
$1,000
1,000
1895
1891
1893
1902
&
Government loan, V. Ill, p. 794.
Jan. l-Dec.31
1920.
1920.
1919.
$9,920,711 $41,844,190 $36,212,437
541,012
3,039.567
4,844,839
Jan. 1 -Mar. 31
1921.
$9,608,250
738,085
EARNINGS.—
Gross
Net after taxes.
-For year
.
ending Dec. 31
J
to
A
to
O Oct
J
to
D June 11935
to
A Feb
Feb
F
earned
Taxes accrued, &c
796,899
$4,549,538
2,867,967
1,437,285
217,576
$6,871,787
2,635,715
2,222,466
342,945
$26,710
$1,670,661
$4,681,749
2,790,868
Total net income
f 2,823,2501
Improvements
(
\
Equipment
def$932,369
surplus
S.
Meldrum,
Kingdon Gould,
Henry A.
Bishop,
TIOQA RR.—Stock, common. $391,200.
101, p.
to
3 Jan
1 1928
to
J Jan
1922-27
J
to
J July 1
July 1 1917 int defaulted
1917
&
A
to
O Apr
F
to
F
to
A Aug 1
A Aug 1
Various
Columbia
Tr Co, NY
Columbia Tr Co. N Y
J July 1 1925
J
1 1950
Aug '14 coupon not paid
1917
1917
do
do
To 1935
Columbia
4H e MAN Nov 1 1957
Tr
under Govt, operation, $1,086,650;
(additional), def., $107,598.
V. 109, p. 471.
Co,
N
Zanesville to
GUARANTIES.—The company guarantees the principal and int. of the
Kanawha A Michigan first mtge. bonds (see that company).
The Toledo A Ohio Central Ry. Co. (of which the N. Y. Central owns all
Hocking Valley Ry. Co. were guarantors of
Coal Co. and Kanawha A Hocking Coal to
declared due because of default in pay¬
ment by the coal companies of the interest on their bonds, the New York
Central RR., under terms as to holding by a trustee, Ac., imposed by the
Federal Court of Ohio stepped In and bought the bonds at par and int.
V. 105, p. 2544.
The New York Central RR. acquired bonds of the Continental Coal Co.
$1,525,000 and Kanawha A Hocking Coal A Coke Co. $2,569,000.
Sub¬
sequently bonds of the Continental Coal Co. In amount $1,497,000 were
sold, leaving balance of $28,000 in the treasury of the railroad company.
See Sunday Creek Co., V. 106, p. 2349; also Kanawha A H. C. A C. Co.
*
V. 109, p. 1529Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Government loan, promissory notes, Ac., V. Ill, p. 2521; V. 112, p. 163.
of outstanding stock) and the
the bonds of the Continental
Coke Co.
The bonds having been
-Jan. 1—Dec. 31
1920.
1919.
-Jan. 1—Mar. 31-
1921.
EARNINGS.—
Gross
Net after taxes
.<
$2,412,627
def53,787
1920.
$9,078,909
$2,630,946 $13,445,864
119,949
839,071
def2,916
Of the
in V. Ill, p. 1272.
otal tonnage in 1919 6,545,057 tons, or 74.5%, was bituminous coal.
1916.
Years ending Dec. 31—
1919.
1918. "
1917.
$6,203,847
Operating revenues
$9,078,909 $10,129,660
$8,088,541
$1,293,171
Net, after taxes
def$2,917
$814,938
$1,602,324
Compensation accrued..
1,086,651
1,086,651
916",053
Other income
770,034
678,501
692,149
ANNUAL REPORT.—Report for 1919 was
.
$2,294,473
1,379,783
$2,209,234
Balance, surplus
$175,025
$78,927
$914,690
Pres., W. K. vanderbilt Jr.; V.-P., F. B. Sheldon; Treas., E.
—(V. HI, p. 1272, 2141, 2521; V. 112, p. 163.)
$744,031
N. Bennett.
$1,856,685
1,681,660
$1,765,152
1,686,225
1,464,933
TOLEDO PEORIA & WESTERN RY.—(See Maps o1 Pennsylvania
Eflner, Indiana State line, to Warsaw, 111., 220 miles;
In
July 1917 Pres. E. N. Armstrong was appointed receiver,
McHarg.
Depositary, Farmers' Loan to Trust
Majority deposited.
V. 104, p. 1046; V. 105, p. 73,
R.
Pennsylvania Co. owns the entire $12,000,000 capital stock and leases
property for net earnings, and guarantees the bonds of the old cos.
V. 92, p. 1702; V. 93. p. 106.
Div. 6% paid 1911 and 1912; then none till
1915, 6%; to 1920, 6% yearly.
V. 93. p. 1790.
INCOME.—For cal. year 1919, standard return, $1,301,433; other in¬
$23,735; taxes, $95,803; interest, $210,893; rentals, Ac., $57,509;
bal., sur., $240,965.—(V. 102, p. 155.)
dividends (6%), $720,000;
Co., N. Y. City.
390.
Compensation.—Compensation under Federal control, $159,739
(contract executed).
Federal
Jan. 1—
LATEST
-
Jan.1— -Dec. 31
far. 31-
1921.
$530,161
27,489
def127,077
TOLEDO RIVERSIDE
1920.
1920.
$442,514
—
Net after taxes
and $189,700 pref.; par, $50
the
both prin¬
cipal and interest due July 1 1917 on the $4,895,000 1st Mtge. 4s being in
default. V. 105, p. 73.
Dec. 31 1919 Penn. Co. owned $1,248,000 1st 4s.
Bondholders' Committee: Thomas Denny, Adrian Iselin Jr. and Henry
1465, 1554
TOLEDO COLUMBUS to OHIO RIVER RY.—OSes Maps Pennsylvania
RR.)—Owns road Toledo Jet. to Toledo, 0., 81 miles, and Loudonvllle to
Coshooton. O., 45 m.; Sandusky to Columbus, 108 m.; Marietta to Canal
Dover, 103 m., branch,,8 m.
Total owned 345 miles; trackage, Cleve. Cin.
Chic, to St. L. in Sandusky and Columbus, O., 2 miles; N. Y. O. Lines,
B. to O. Jet. to Union Station, Toledo. O., 2 miles; total. 349 miles.
RR'
La
Jointly with Wabash, 1 mile; trackage at
Peoria and Burlington, la., 17 m.; total, 248 miles.
Stock, $4,500,000
(par $100); outstanding, $4,076,900, of which the Pa. Oo. and O. B. to Q.
each own about $2,011,200.
Mortgage abstract, V. 45, p. 242.
Car trusts outstanding Dec. 31 1920, $77,570.
Harpe to Iowa, 111., 10 miles:
Gross
1310.)
y
(1909. 1910. 1911. 1912-13.
1913-20 lncl.
Common (since 1908)
(%)l
1
7H
5
5 yearly
None
Preferred (1%)
[
5
7Yt
5
5 yearly
None
Obligations.—In Mar. 1917 sold $1,200,000 4^% equipment trusts
covering 1,000 all-steel 55-ton hopper cars.
V. 104, p. 1265.
TOLEDO SAGINAW to
come,
Guaranty Trust Oo, N Y
J
J
EARNINGS.—
Pacific RR.
TIDEWATER & WESTERN.—In 1918 dismantled.—(V. 105, p.
—V.
Second Nat Bank, Toledo
—Owns from
Harry Bronner, B. D. Caldwell, George G. Haven, C. C. Huitt, J. L.
Lancaster, A. A. Jackson, Alvin W. Krech, J. H. McClement, Dunlevy
Milbank, Wm. Church Osborn, Finley J. Shepard, John I. Waterbury,
Wm. H. Williams, John G. Drew.
Receivers, J. L. Lancaster and O. L. Wallace.—(V. 112, p. 1145, 1519.)
TIDEWATER SOUTHERN RR.—See Western
Guaranty Trust Co, N Y
1 1951
DIVIDENDS.—
$6,074,888
442,106
4,107,432
574,317
Deduct—Interest, rentals, &c
DIRECTORS.—N.
$4,288,970
4,107,432
$4,844,839
Operating income
Standard return
Other income
do
do
1 1951
Oct'fS'llY 1%
n
1*
do
do
Central Union Tr. N Y
do
do
J July 1 1935
1 1935
J
Interest, rents, Ac
1M7.
__$36,212,438 $27,294,833 $22,714,007
6,074,865
5,394,453
7,324,252
1,230,026
1,105,482
1,249,364
Gross earnings
Net earnings.
Balance,
19J9^ in V. lll^p^ !
1271:
•
do
do
All owned by N Y O RR
All owned byNYO RR
Total income
REPORT.-
Penn RR Oo, N Y
do
do
1935
1931
1933
1942
J July 1
MAS Sept 1
&
Where Interest and
Dividends are Payable.
Annual compensation
Western
The I.-8. C. Comm. in
Compensation.—$4,107,432 yearly during Federal control.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Places
and Maturity
N May 1
J July 1
to
Interest of all equipment trusts
Federal
Dividend
Last
Miles
RAILROAD COMPANIES
[For abbreviations,
[VOL. 112.
STOCKS AND BONDS
RAILWAY
128
$2,014,007
def445,641
1919.
$1,645,768
def255,639
RY.—(V. 107. p. 1838.)
MUSKEGON RY.—From Muskegon, Mich.,
Ashley, Mich., 95.91 miles.
The Grand Trunk of Canada owns the
$1,600,000 stock and also the $1,662,000 bonds.
V. 71, p. 85; V. 72, p. 338.
to
TOLEDO
ST. LOUIS to WESTERN RR.—Owns road from Toledo to
454 m. (mostly 75 to 80-lb. steel rails); sidings, Ac., 184 m.j
East St. Louis,
trackage to St. Louis and
with the Grand Trunk Western Ry.
also has
Toledo Union depots.
Owns jointly
all the stock of the Detroit & Toledo
Detroit to Toledo, 71 miles. Jointly guaranteeing its 4%
bonds: present issue $3,000,000.
V. 76, p. 655.
ORGAN'N.—Successor of Toi. St. L. to K. G. (foreclosed); V. 70, p. 1196.
In Aug. 1907 acquired control of the Chicago to Alton, viz., $6,480,000
oreferred and $14,420,000 common stook.
See Bonds below.
Shore Line Ry.,
RECEIVERSHIP.—On Oct. 22 1914 Pres. W. L. Rosa was appointed
V. 99. p. 1216.
In Jan. 1915 foreclosure suit was brought under
V. 100, p. 231.
In 1918 litigation was pending
involving the validity of the collateral trust bonds.
V. 106, p. 1462. Re¬
port of Stockholders Protective Committee.
V. 110, p. 2658.
receiver.
TOLEDO & OHIO CENTRAL RY.—Operates 436 miles, viz.:
Lines owned—
Miles. Branches
Whit more
to
Bremen
171
Leased lines
collateral trust mortgage.
76
5
36
Toledo to Thurston
148 Trackage (Kan. A Mich., Ac.)
In Oct. 1918 with Kanawha A Mich, started building a 5-mile cut-off
along Leading Creek in Gallia County to reach a number of coal areas.
v. 107, p. 1386.
Owns all stock and bonds of Zanesville & West. Ry., Thurston to Shawnee
and Zanesville, O., with branches, 90 m., oper. separately.
V. 75. p. 906.
In 1914 purchased from the Ches. a Ohio Ry. and Lake Shore a Mich.
Southern Ry. now New York Central Rr. $8,947,900 of the $9,000,000
Kanawha a Michigan Ry. stock, issuing therefor demand or one-year notes
for $8,719,012.
V. 100, p. 1250.
Total outstanding loans and bills pay¬
able as of Dec. 31 1919. $11,543,199. all owned by N. Y. Central RR.
New York Central RR. owns $3,701,400 pref. and $5,846,300 common
stock—all the capital stock outstanding—the balance authorized Is held
by the Toledo a Ohio
Central Ry.
v. 90, p. 771, 1095: v. 92, p. 804.
PREFERRED
T.
93,
p.
DIVIDENDS.—1907 to
Oct.
1911, 4%; none since.
1669.
$425,000 was in the treasury Dec. 31
1919.
Additional first mortgage bonds not to exceed $10,000,000 may be
issued at any time to retire the prior lien bonds.
The collateral trust bonds
secured by Chlo. to Alton stook are limited to $12,000,000, Series A being
issued In exchange for C. to A.pref. stook,$ for $, and Serles.B (bearing Int. at
2% to July 31 1912 and 4% thereafter) in exchange for O. to A. oom. stock
on the basis of $35 in bonds for $100 stook, but the bonds of both series are
equally secured by the deposited security.
V. 85, p. 1647: V. 88, p. 1468.
The Aug. 1914 Interest was defaulted.
V. 99. p. 199. The bonds fell due
Aug. 1 1917 and remain unpaid.
On Dec. 31 1920 Ch. R. Id. to Pacific
Ry. Co. owned $400,000 series A and all of the $5,047,000 series B bonds.
BONDS.—Of the Prior Lien 3Hs,
OS
Xfl
ft
ft
O
ft
ft
£
<
XII
M
o
o
H
xn
%
<1
ft
O*
fH
<1
a
Par
Amount
Rate
When
Value
Outstanding
%
Payable
Ohio
Road
61
Tonopah & Goldfield—Common
Ry
9100
100
stock
Preferred stock 7% non-cum
1905
Tettupah & Tidewater RR.—1st M deb stk oerts g go
Sterling bonds, guar, redeemable 105
104.31
^Toronto Ham & Buff—1st M g 140,000 p m__AB.zo*
Oonsol 1st M $10,000,000 sk fund guar
_ _Qr
~~£ido
1,000
1,000
175,000
3,280.000
2.000.000
1913
1.000
300.000
1914
100 Ad
1914
1,000
1906
1,000
A and B Collat. Trust Bonds.—Edwin G;
B. Wade, Sec.; Union Trust Co.. N. Y., deposi¬
tary.
In Oct. 1916 the certs, of dep for 14.559.000 "A" bonds were listed
ob the N. Y. Stock Exchange.
Interest defaulted Aug. 1 1914 and
pal defaulted Aug. 11917.
V. 101, p. 1208; V. 99, p. 344,
princi¬
408,1301.1675.
O. S. Herring.
Bonds.—Alvin W. Krech, Chairman;
V. 100. p. 1753.
Committee for Pref. and Com. Stock.—Jules S. Bache, Chairman; E. P*
Goetx, Sec.; Empire Trust Co., N. Y., depositary*
In Dec. 1916 certs,
deposit for over 85% of the common and pref. were on list of N. Y. Stock
Wall St.
of
V. 99, p. 1750.
Equipment trusts Issued to
Exchange.
1911; V. 103, p. 2239.
3.
STANDARD RETURN as
certified by I.-S. C. Comm.,
$1.022.469, not
A claimwas filed with the Federal Government for an annual
compensation of $1,170,346.
V. 109, p. 1787. Board of Referees in April
1921 granted annual compensation or $1,113,486.
V. 112, p. 1979.
Government loan, V. 112, p. 2191.
Jan. 1—Mar. 31
Jan. 1—Dec. 31
1919.
EARNINGS.—
1921.
1920.
1920.
$8,267,877
yet executed.
$2,177,468 $2,531,161 $11,356,935
188,804
456,469
1,639,631
cal. year 1919, in V. 110, p. 2652, showed:
Gross—
Net after taxes..
REPORT.—For
Years ending Dec. 31—
1919.
$8,267,878
$1,007,801
994,294
279,022
Gross earnings
Net earnings
(after taxes)
Standard return
Other income
,
1,007,801
1917.
1918.
$7,041,663
$1,697,658
155",245
$1,812,903
x$l,094,381
549,119
Other Interest, discount, Ac
281,096
373,351
59,501
Balance
def$95,433 def$387,066 sur$109.901
Incl. int. on A. & B. bonds due 1917, amounting to $461,080, defaulted.
$1,273,316 $1,080,557
x$l,087,653 x$l,094,273
Total income
Interest on funded
Hire of
debt
equipment
...
x
(Pres.), John Hubbard, William Shillaber
Berwind, A. T. Walker. Spencer D. Carr, Colgate Hoyt, Frank
Bache and James Steuart MacKie.
Office, 60 Wall St.,
Y.—(V. Ill, p. 1950; V. 112, p. 1979, 2191.)
DIRECTORS.—W. L. Ross
Jr., E. J.
H. Davis. J. S.
N.
—Owns belt road, 28.77 miles (Including two
branch to terminal station: total. 31 27 miles.
July 1920 awarded the company $252,999 annual
TOLEDO TERMINAL RR
bridges), with 2 ^4-mi'e
U. S. RR. admin, in
compensation for the period
V. Ill, p. 295.
during which the road was
under Govt, con¬
trol.
V. 84. p. 130; V. 85.
ORGANIZATION.—Controlled by nine roads.
p. 100, 347, 1402;
V. 86, p. 170.
outstanding, $4,000,000. The Pere
Marquette and Cincinnati Hamilton & Dayton (foreclosed), each guaranteed
Stock
authorized,
Ohio Central. 9.68%
other income.
Grand Trunk Western. Hocking Valley and Toledo &
For cal. year 1918, Federal compensation, $252,999;
each.
$2,833; deductions, incl. int. on funded debt, $189,000, and other charges,
deficit, of $3,519.
For cal. year 1917, gross, $587,195;
net, after taxes, $62,714.
A. B. Newell, Pres. A Gen. Mgr.; D. O.
Sec. & Aud.; W. L. Schulte, Treas.—(V. 112, p. 1284.)
leaves a balance,
Follas,
TONOPAH 5c GOLDFIELD
Bullfrog Jet..Nov., 89
V. 82, p. 80.
1907.
10%
10%
RR.—Owns Tonopah Jet. via Tonopah to
miles; trackage, 9 miles;
branches, Ac., 12 mile^.
1908-11. *12. *13. '14. 15
None
3 7H 7 10H
'10.
7
7
*17
*18
'19
3|* 10^ 7
'20.
7
7
7
Dividends due to be paid April 15 1921 were omitted.
A sink, fund retired to July 1 1917, all the $1,150,000 bonds theretofore
Issued under the $1.500.000 mortgage of 1906.
V. 105 p. 717; V. 82, p.80b.
None
7
7
7
REPORT.—For year ending Dec. 31:
Cross
Total Net
Int.
Pf. Divs. Com. Div. Balance,
Earns.
Income. Rents,&c.(7%p.a.) (7%p.a.) Sur. or Del
$76,420
$8,812 $35,000 $115,500 def.«82 802
1920
$464,180
110,283
*«7,733
35,000
115,500 def.$47.950
1919
481,471
127,891
9,431
35,000
115.500 def. 32,040
1918
472,608
274,986 121,956
35,000
115,500 sur.
2,529
1917
625,612
Pres., M. B. Cutter; Sec., Wm.F.
—(V. 112, p. 1618.)
TONOPAH
& TIDEWATER
Henshaw, Bullitt Bldg., Philadelphia.
RR.—See page 140.
TORONTO HAMILTON & BUFFALO RY.—Owns Welland Junction
to Waterford Junction, Ont., 80 miles; Port Maitland on Lake Erie, Ont.
north about 20 miles to Smithville; trackage, 4 miles.
Operates car ferry
between Ashtabula and Port Maitland in connection with N. Y. Central
Lines.
V. 106, p. 930.
STOCK.—Authorized, $5,500,000, $4,512,500 outstanding, held by
York Central system and Canadian Pacific, the last named on
owning $749,600 stock and $1,000,000 consols. V. 61. d. 753*
V. 63. p. 359; V. 68. p. 475, 1134; V. 69, p. 29.
In Oct. 1912 a cash divi¬
New
Dec. 31 1918,
dend of 20% was paid.
On Oct. 1 1913 1J4% (quar.)
Jan.. April and July. 144%; nbne then to Jan. 1917. when
paid, 1914
1 X % was paid'-
was
April 1917 to Jan. 1919, 5% p. a. (1X % quar. J.).
In April,
1919 and Jan. 1920 paid 144%; none since to April 1921.
Jufy and Oct.
with N. Y. Central, Michigan Cent.
Canadian Pacific, Interest on 1st Mtge. bonds Is
BONDS.—Under traffic agreement
Canada Southern and
practically guaranteed. See V. 68, p. 475, and advt.
V
1,550,000
In "Chronicle" of
Aug 1 1960
Aug'21-Feb '23
9c
A
9c
A Feb
1 1948
Company's
office, PhUa
do
do
Ind A Gen InvTr .London
Glyu.Mllls.Curr A Co.Loo
Lincoln Nat Bank, N Y
York""""
New
Ter
N Y
NYTreaa Of.Gr Cen
Office, 149 B'way
Co, N
Guaranty Trust
New
York
If
Chicago
and
M. bonds ($10,000,000 auth.) are a first lien on the former
$45,000 per mile, and a third Hen on the remainder of
provide for betterments, refunding, Ac.
V 101. p. 528;
The Michigan Central RR. Co.. Canada Southern Ry. Co.
The Consol. 1st
Erie A Ontario Ry. at
the property, to
V. 99, p. 1750.
of the interest
their respective In¬
Canadian Pacific Ry. Co. were to join In a guaranty
and provide for sinking fund In proportion to
and
thereon
held that,
Hamilton
permitted, under
but In March 1917 the Ohio Supreme Court
while the New York Central might guarantee such of the Toronto
A Buffalo bonds as It may Itself own or acquire. It Is not
the Ohio law. to make a Joint guaranty with the other proprietary
panies.
See V. 101, p. 1975. and Can. Pac.. V. 103. p.
V.
therein,
terests
1508;
Year—
Net (after
Taxes).
Gross
Revenue.
Other
Charges,
Income.
die.
com¬
104. p.1146.
Balance,
Surplus.
Dividends.
$724,083 $250,519 $314,401
$660,200
1920—$3,229,726
421,919
206.278 289,676 (6%)$270,750
67,771
1919— 2,500,916
1,109,324
113,050 319,867 (5%) 225.625
676,882
1 O**
O »Uto
1 lOtvvl/'' t>X(7fOUi ■ VH /O/ aauiUaiU
U1 U »0
1918
3,045,482
(V. 102, p. 1626; V. 103, p. 1593; V. 106. p. 930. 2346; V. 108, p.
-
1722.)
Grand Trunk Pacific Ry.
TRANSCONTINENTAL RY.—See
above.
TRANS-MISSISSIPPI
TERMINAL CO.—New Orleans terminals,
opened Feb. 15 1916.
Texas A Pacific Ry. and Mo. Pac. RR. Co.
own one-half of the $2,000,000 stock
of Traiia-Mlsslsslppl Terminal RR.
each
Trans-Mississippi Terminal Co.. and Jointly guarantee
prln. and Int. not exceeding $7,500,000 bonds.
Of the bonds, $6,071,000
nave been deposited to secure an issue of $4,250,000 6% 3-year gold notes
dated Nov. 1 1914.
The shareholders voted Oct. 22 1917 to extend
the
6%
notes, due Nov
1 1917 to Nov 1 1920 the Interest rate being
Increased from 6 to 7%, the joint guaranty also being continued.
The notes
were again extended in 1920 to Nov. 1 1923 at 7 X, %, with the exception of
$1,000,000, which were paid off through the aid of a Government loan.
V. 105, p. 1709; V. Ill, p. 1754. 2326.
Operating merger of freight ter¬
minals still in force in Oct. 1919.
V. 107, p. 803. For cal. year 1920,
gross, $324,608; railway oper. def., $273,589; other
income, $913,821;
deductions, $570,885; net income, $69,346.
the
$644,367 yearly during Federal
Ill, p. 794, 2326.
Lancaster.—(V. Ill, p. 794, 1473, 1754 ,
Federal Compensation
Government loan, V.
Pres., J. L.
control.
2326.
TRANSYLVANIA RR. —HendersonviUe to Lake Toxawav,
Leased to Southern Ry. lor 50 years from Jan
I 1906
yearly for 10 years and $30,000 thereafter
V 83
Stock authorized, $420,000.
Bonds, see table. (V. 87. p.
miles.
of $25,000
N. 0., 42
at a rental
p. 97.
814.)
RY.—Owns Hatohs
to Hatchs. 6 m.
and In May 1919 a con¬
Transit Co., covering all
except its equipment. Stock auth.,
TRAVERSE CITY LEELANAU A "VIANISTIQUE
to Northport, Mich., 24 miles.
Trackage Traverse <"Mtv
total, 30 miles.
In 1918 suspended operations,
tract of sale was entered into with the Leelanau
of the railway company
No bonds.—(V. 105, p. 1999.)
the property
$278,000.
$6,000,000;
Payment of 16.12% of the Interest on tne bonds, and Tol. Hocking Valley
ennsylvania Co., New York Central, Mich. Central, the St. L. A West
DIVS.—1906.
Common. .27%
Pref
27%
434.UUO
Co.. successor to
$8,306,127
$1,607,619
994,294
86,263
Various
July 1
1944
J
9c
7H g MAN Nov 1 1923
M &
N Nov 1 1923
6
J
A
J Jan 1 1966
2.653.000
Cal.
Director-General for rolling stock allocated
See article on page
to this company.
Apr 15 *20 7
Apr 15 *20 7
1 I960
MAS July 1 1960
June 1 1940
J
A
Various
5
See text
1.000AC
1908
67
4 g
Dividends are Payable.
and Maturity
A A O 16 July
4M g F
4H g V
1.000,000
1920
42
Committee for Ser.
Committee for 1st M.
I*
1896
Merrill, Chairman; G. K.
Bee., 37
500.000 See text
£500.000
1916
(V.96.n.361)Ce.x
fTrans-MUslssippl Terra Co—IstM sf red 105 Gyc«r»
Protective
91,650,000 See text
1907
Equip gold ser A due$75,000 s-a
Note issue $4,260,000 g call 101. extended
Eq
Note <to United States Government
'Transylvania—First mtge goto I5UU.OOO . —O.xo*&r
'flTraverse City RR—See Grand Rapids A Ind By—
Fremont 9c Uulf—First mtge gold red text_-.lC.xo4
Where Interest ana
Places
River Ry
bus A
Toledo Walhondinz Valley & Ohio—See Toledo Coluro
hern
Tomblgbee Valley—See Alabama Tennessee A Nort
Dividend
Last
Date
Bonds
Miles
RAILROAD COMPANIES
[For abbreviations, &c., see notes on page
[VOL. 112.
BONDS
RAILWAY STOCKS AND
130
TRAVERSE CITY
RR.—See Grand Rapids A
Indiana Ry. Co.
48 miles;
authorized.
($5,000,000
105
contained In the
$120.441, Int., taxes, Ac., $101.563; Improvements, $20,201; bah. def., $892.
For cal. year 1917, gross. $292,564: net. after taxes, $111,123.
Pres., J. 8.
Joyce, Chicago; Sec., Frank P. Stubbs Jr., Monroe, La.—(V. 88. p. 1314.)
TREMONT 0c GULF RY.—Owns Tremont to Wlnnfleld. La..
Menefee to Rochetle. 18 47 miles
total 66 74 miles
Stock
$5,000,000; outstanding. $2,000,000; par $100.
Of the bonds
auth. Issue), redeemable In whole or part on and after Feb. 1 1918 at
A Int. the $3,450,000 unissued are reserved for extensions at not over
$30,000 per mile, for improvements. Ac., under restrictions
mortgage.
V.88, p. 1314.
For year 1915-16. gross. $302,890; net.
ortdge 0 19 miles In length *
and vehicles. leased June 20 1877
rental, $20,000 yearly and 66 2-3% of taxes.
Stock, $298,900.
Contract terminated July 1 1917 with Penn. RR. Co.
and bridge turned over to States of Penn. and New Jersey, May 31 1918.
TRENTON
and receives
to Dec.
DELAWARE BRIDGE CO.—Owns
tolls from foot passengers
1 2870 to
TRINITY 9c
235.5 m.;
Penn. RR.;
BRAZOS VALLEY RY.—Owns
Cleburne to Houston,
Waxahacble. 67 32 m.; trackage at Houston.
On June 10 1914 J W RoMns was appoint¬
bonds due Jan. 1 1914 being in default. In Sept.
1919 Gen. John A. Hulen was appointed receiver to succeed L. H. Atwell.
resigned.
V. 109, p. 1180; V. 98, p. 1921.
ooioiado Soutnerii ana Kock Island to each own half interest In stock
the Rock Island's interest beinr select to
'ten .f *he r0\ radn A South¬
ern mtge.)
The Chic. R. I. A P. Ry. Co. also agreed to pay for, on May 1
1935 (date of maturity of Col. A Sou. refunding and extension mtge.).
one-half of the 1st mtge. bonds and other securities of the Tr. A R. V. Ry.
V. 80, p. 1423. 2622; V. 82. p. 930, 986; V. 99, p. 1529.
This latter obliga¬
tion was disavowed by receivers of the Ch. R. l. A Pac., but in Jan. 1919
a settlement was reached by which the latter company on payment of about
$4 000 000 cash to the Colorado Southern, obtained ownership of a half
Interest In the property.
V. 109. p. 672, 67,7; V. 108, p. 380. 1611; V. 103.
p. 2429; V. 100, p. 2087; V. 102, p. 885.
Own® one-quai tei interest iu houkumi Belt 4 Tprm
Ry ind pr&ctlc8lly
Tex..
Teague to
m
12.59 m.; total, 315.41
ed receiver, the int. on
Galveston Terrr.
r>v
compensation under Federal contract. $100,000 (lump sum).
W. B. Scott, Houston. Texas.
Stoch. *6ou.iJtW par, $iu0.
In Au* i «>■> nade a tlrst mortgage, to
tecure 30-year 6% bonds due 1935 at $30,000 per mile, all to be deposited
•nti»r
st/vk
of
Company's
Federal Manager,
*o
under Go]
A ''cuth
refunding r»»nrt<-«*c"*-
outo^ndin-/ Tune 1910,
the Colorado A Southern Ry. Co. and the Chicago
Co. canceled all of the outstanding and unsecured
6% certificates of indebtedness heretofore issued by the Trinity A Brazos
Valley Ry. Co. under the provisions of the agreement of March 31 1906. for
advances made to cover deficits in the income of the Trinity A Brazos Valley
$8 760 000.
During 1919
Rock Island A Pacific Ry.
XIAP
I
OF
THE
Waynesburg
Rockwc
.
,
\
M
VIRGINIAN
\Brooklyn Je.
\
e
°'l
"Byers Jc.
oN
'Wellston
/^Green Spring
P'| Clarksburg
Cairo
*
Belleville >v
le\
(
'Cdntury
/
/
o
Maefarlan
oi,,,
L
•-Elizabeth
.
liRavenswood
Duncan
Buxton
\
Holly
Diana p»-o
»0
lyne
/Wayne
/I
Kleyboltfc.
V Ranger-^
Louisa
CatinjCreekJo.y^^
rotU
OEEPVVA+ERI^?6*1^^
}
on
v
^-o Rich wood
V
^
V*nnotos
Richardso
_
\
V
J
■Williamson
"ST
\\
Xo
K\
Y
Elkhorn
y»
eV
))
I
<.
/
/
wrc
/
I
y/Washington
Luray/5
0 Warrenton\
^ • /■
o
Elkton
Orange
F.
/_£.
&
Spottsylvania
mlr^^Cambridg^
siystaunton
ilisbury'
0
Oak Grove
o
\
City
Montross
o Bowling Greep.
Charlottesville
/~yGoshen/f
/
/
Rockridge
Alum opiingsop Springs Jc
Aium Springs op opiings jc.
o
Zion
Alberen^
~9
/Lofton
X-"
/
\
Esmont/
/Oreville/ /
0-/
Beaverdam
A Palmyra
Spai-ta
Tappahannock'
Bio?
Dswell
Prince
\o
,
Q'Buena
Goochland
Vista
o
Rixey
1
o;
oy
#\
DelmarSelTme
E
King George'
Gordonsviile
/Basic
(<?
\
Mechanicsvi
Fredericksburg,
Rapidan
Williamerttle
Forge^/
\
Laplataj
Stafford
King William
(*>
o
o
Hoitonlg6 Mountain
)
/jr^
vx
/Glasgow
ou^O^Balcony Falls
\
Amhei"st _/\
?
\\
BuchananV^L
elm of
Powhatan
O'l
0.
^
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ouarryvuie
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RAILWAY
n.icnmonaf
Berlin
"O/y
--s
Date
Par
Amount
Rate
When
Road
Bonds
Value
Outstanding
%
Payable
7
J A D 15
J
A
J
&c., see notes on page 6]
6
Troy & Green bush—Stock 7% rental New York Cent
29
Tuckerton R#—1st M ext 1910 red 1920 at 105101
Ulster A Delaware—Cons M for 52.000,000 -g.Ce.o*
Refunding mortgage 53,200,000
G.c'Ar
19
Unadllla Valley—First M 5200,000 gold redeem at 110
Union Pacific RR—Common stock 5296,178,700--..
Pref stook 4% non-cum 5200,000,000 (V 80, p 1364)
First M g RE A land grant
5100,000,000 g_„. B&x 2.090
Bonds redeemable convertible (text)
Bax
3.656
FlrstLlen A Ref mtee red 107 Y> beg 1918-Ea.xo* A*"*
3.556
do
do
do
sterlingTen-year Secured gold bonds
c*Ar
Serial equip trust certificates due $833,000 yrly_-c*
Union RR—See TJ 8 Steel Corp under "Industrials"
Union Station Co of Chicago—See Chicago Union Static
Union Springs & Northern—See Birmingham A South easier
Un Term Co, Dall—IstM red 106 beg '22text.CCyc*
xy
Union Pacific RR In Dec 31 1919 owned further
amou
500 Ao
1,000
1902
1,000
1,000 Ac
1904
1908
viz.:
nts.
Ot
„
to Rensselaer, 6 to lies*
Co. In 1851 at 7% on $275,
1914.—V. 106, p.924
TUCKERTON RR.—Owns Whitings Station to Tuckerton, N. J., 29 mauthorized, common, $125,000; pref., 5500,000; outstanding, com
mon, * jnfl.kflH; pref.
*445,374; oar. $50.
Year ending Dec 31 1920. gros*
Stock
bal., sur., $3,202.
Philadelphia; Sec.,
TUSCARORA VALLEY RR.—Port Royal to Blair's Mills,
(3 ft.).
Stock issued, $160,000. par, $50.
The $150,000 5%
Pa.. 27 m
First Mtge
bonds which fell due July 11917 are owned by J. M. Blair and H. O. Hower
the present owners of the road; reorganization probable, V. 105, p. 820
Pres., J. E. Robertson.—(V. 67, p. 1162; V. 105, p. 820.)
(THE)
of 1902, see
Government
Compensation.—$176,472
V. Ill, p. 74.
yearly
during
Federal
control.
.
DIVIDENDS.—Divs. of 3% declared annually in Dec., 1912 to 1920
\jan.
EARNINGS.—
1921.
Gross. 0
Net after taxes
$268,522
def81,374
:ncl.
Jan. 1 —Dec. 31
1920.
1919.
1—Mar. 31
1920.
$241,989
def83,935
$1,480,096
def329,713
$1,215,809
defl43,192
REPORT.—For cal. year 1920, gross, $1,324,179; net, after taxes (def.),
$481,176; Fed. comp., $21,334; Fed. comp. accrued, $52,000; amount due
guaranty period under Transp. Act. (est.), $503,387: other income,
$113,815; deductions, $225,708; bal., def., ^16,347.—(V. Ill, p. 2233.)
for
UNADILLA VALLEY R Y.—Owus road from Bridgewater to New Ber
Y.
20 miles,
stock
*200,000; par $100
V 78. p 104
Bondtable above.
V. 78, p. 1499.
Lewis R. Morris is trustee.
Year 1920,
lin. N
see
ewis $91,912; net, $5,983; interest, $8,399; bal.,
E-oss, R. Morris, 27 Cedar St., New York.—(V. 78, def., $2,416.
p. 1168.)
Pres.,
UNDERGROUND ELECTRIC RAILWAYS CO. OF LONDON, LTD.
—See "Railway & Industrial Section" for Nov. 1920 and Y. 112, p. 850.
UNION PACIFIC RR.—(See Map.)—The lines operated on Jan. 1 1920
aggregated 8,032 miles of road (with 1,273 miles of 2d track and 2,829 miles
of yard track and sidings), extending from Council Bluffs and Kansas City
in the east, via Denver, Cheyenne, Ogden, &c., to Portland, Ore., and
Spokane, Seattle, Ac., in the west.
The system comprised:
j
Miles of Road on'
Wholly Owned Leased Tr'k'ge Deducr
Total
Jan. 1 1920—
Owned.
tions. Operated.
Jointly. &c. Rights.
Union Pacific KR
7
9
3,614
3,601
5
6
Capital Stock Owned—(See each co.)
68
19
2,348
Oregon Short Line RR
2,190
i207
Ore.-Wash. RR. & N. Co
207
>1,972
74
95
2,070
y278
..
Total.
Leased
7,763
79
308
235
353
8,032
from
Oregon-Wash. RR. & Nav. Co.
y Includes 207 miles
♦Also owns H interest in the Los Angles A
Salt Lake Ry. (recently San Pedro Los Angeles A Salt Lake), which see.
x
eased
to
Oregon Short Line.
In Dec.
2189.
If,eb.,
1918
reported to have acquired control of former Salina A
Salina to Osborne. Kan., 81 miles.
V. 107,
line (about 43 lA miles) In Scotts Bluff County,
and Goshen County, Wyo.
V. Ill, p. 2230.
Northern
RR.
MAS.
do
J
7
J
Office. 165 B'way. N Y
J July 1 1928 1
June 1 '24 to'34 New York
AD.
A
AO.
Apr
A
AO-
4 g
4 g
J
A
J
J
A
J
5.000.000
5 g
$14,098.0 00; of
x
was
new
HISTORY.—Incorp. In Utah In 1897 per plan of Oct. 15 1895 (V. 61, p
704, 705. and V. 64. p. 424; V. 66, p. 618: V. 67, p 790.)
Under the modified plan for the sale of the South era Pacific stock ap¬
proved by the U. 8. District Court June 30 1913 (V. 97. p. 60). $38,292,400
of the Southern Pacific Co. stock was on July 16 1913 exchanged for the
entire holdings of $42.647,200 Baltimore A Ohio stock (one-hadf pref.) of
The remaining $88,367,600 So. Pac. stock formerly owned
deposited with a trustee, which issued certificates of interest in the
stock, certificate holders to have no voting rights and receive no dividends
until they exercised the option to convert their certificates iDto 80. Pac.
Co. stock, after first making affidavit to the effect that the applicant owned
no Union Pacific stock and was not acting for any stockholder thereof, or In
1 be Interest of the Union Pacific.
In 1916 reported net profit of $16,099.-
of Principal Securities Owned as Foresaid Dec. 31 1919 Face Value
1,495.000
pref $5.400.027 Vorf. & W.Ky eq.4Hs.
7,300.000 N. Y. Cent. RR. stock.w$21,000,000
Ref A linpt. M. 4Hs_
3,000.000
10.343.100
Convertible 6s
8,000.000
Gen.
Mtge. 6s
($8.4.132.000
9,228.000 No. Pac— Gt.Nor.Jt.4s.
417.000). Ac
O.&N.W. Ry.com.stk. v4.420.600 Penn. RR. A Penn. Co.
Various bonds, Ac
10.300,000
Gen.M. ($4.500,000),Ac,
4.908.000
6,399,000
Ch.MH.A St.P.Ry .pref.. xl.845,000 So. Pacific Co. 4a, 1949Some
Bonds & equip. 4tis-„
O. A Alt. RR. pref. stock.
„
4.975,000
Sundry bonds
D. & H. gold notes, Ac.
3.500,000
Illinois Cent. RR.stock.y22,600.000
Ref.
Joint
5s
($5.-
000,000). Ac
St.
A
Jos.
Gr.
Isl.
Fran.
San
Equip
Term. 4s.„
6.000.000
4,068.000
trust 4Hs--
80 Pac.RR.1st ref. 4s.
14.568,000
12.500,000
LosAng.A 8alt L. RR.stk.
IstM 4s of July 1 196lz29.511.000
Union Pac. Coal Co. stk.
5.000.000
1st
Ry.
Mtge. 5s
$5,000,000)
(out
of
1,715.000
12,136,000
3.000,000
4,553,600
v w x y z Amounts Pledged.—Oregon Short Line Mtge. covers $4,018,700
of item "v." $20,000,000 of "w." ail of "x," $8,700,000 of "y," and $27,577,000 of "z."
See also "Secured gold bonds below."
1st pref. stock
2nd pref. stock
do
|
com. stock
4,944,989
3,370,579
do
Utah Light A Tract 5s
N. Y. Conn. RR. lst4Hs
STOCK.—In 1901 common stock was authorized to be Increased by
$100,000,000, to provide for conversion of First Lien 4s, and on June 15 1907
by $100,000,000, of which $42,857,200 to be reserved for conversion of the
$75,000,000 4s of 1907;
balance for future requirements.
See BONDS
below,
V. 82. p. 1271; V. 84, p. 1115; V. 85, p. 1587.
Common
('06.
'07-T3.
8 10 yearly
\
(%)
'14. '15. '16. *17. '18. '19. 1920.
9
8
8
8
10
10
1921
See
U.
text
-.3 MM
text
Jan. 1917 paid2% and 2% extra, Apr., July and Oct., 2% and
extra;
Jan. 1918, 2% & H% ext.; April 1618 to July 1921, 2H% quar.
There was distributed on July 20 1914 out of accumulated surplus profits
to the holder of each share of com. stock 12% In Bait. A Ohio pref. and
22H% of B. A O. com. held In the treasury and also $3 per share In cash.
V. 98, p. 157. 238. 454. 625, 840. 914. 1246. 1394. 1539. 1847; V. 99. p.
Extra
_.
...
199. 1682
BONDS.—The 1st mtge. of 1897 covers the original 1,854 miles. Includ¬
ing the telegraph, terminals, equipment and land grants.
V. 66. p. 618.
Stockholders subscribed In 1907 for $73,762,000 of $75,000,000 new con¬
re July 1 1917 Into
share, and are redeemable at the option of
semi-annual Interest day since July 1 1912, at a
premium of 2 H%, upon 90 days* notioe. In which case the privilege of con¬
version will terminate 30 days before redemption date.
V. 84, p. 1115.
1183; V. 85, p. 100, 161.
The First Lien and Refunding 4s of 1908 are secured by
first mort¬
gage on 1,466 miles of main traok, lnoluding the line from Julesburg to
La Salle, Colo., and also, subject to the 1st mtge., the 2,090 miles of road
oovered thereby, making a total of 3.556 miles oovered by the mtge. Of the
remaining bonds, $100,000,000 are reserved to retire the 1st 4s of 1947. the
other $34,098,000 to be Issued only for additional lines, impts., Ac.
V. 99,
p. 749, 818. 895; V. 86. p. 1468; V. 87. p. 546. 1012, 1541; V. 90, p. 448
V. 91. p. 872: V. 100, p
1834: V. 101. p. 1465: V. 102. p. 801. 1719.
In July 1918 sold an Issue of $20,000,000 10-year 6% Secured Gold bona*.
Secured (V. 106, p. 2758) by deposit of the following collateral, estimated
market value of over $25,000,000: $2,000,000 Chicago A N. W. Ry. Gen.
Mtge. 4s and $2,500 000 5s. due 1987; $3,000,000 N. Y. Central RR. Ref.
A lmpt. 4^s, due 2013; $1,000,000 Penna. RR. Consol. Mtge. 4H». due
1960 and $2,500,000 Gen. Mtge. 4)^s, due 1965; $6,000,000 Southern Pa¬
cific RR. First Ref. Mtge. 4s. due 1955; $4,000,000 Bait. A Ohio RR. Ref A
Gen. Mtge. 5s, due 1995; $5,000,000 Illinois Central RR. Co. A Chic
8*
Louis A New Orleans RR. Co. Joint First Ref. Mtge. 5s,due 1963; $4,000
000 Denver Union Terminal Ry. 1st M. 4Hs, due 1964 (guaranteed jointy
These are convertible at any time be
vertible 4s at 90.
common
stook
company,
and
at
or
$175
on
per
any
others).
$10,000,000 Serial Equip. Tr. Certs. V. 110, p. 2388.
$39,840,820 Ore.-Wash. RR. A Nav. 1st A Ref. 4s ($175,000,not including $31,744,000 in U. P. Treasury.
See that
co. (V. 92, p. 1437; V. 93. p. 1325.)
The Federal contract executed in Feb. 1919 fixed the amount of annual
In June 1920 sold
Guarantees
000 auth. issue)
^
compensation at $38,416,000, including the following subsidiary companies:
The Oregon Short Line, the Oregon-Washington RR. A Navigation Co.,
the Des Chutes RR.. the Green River Water Works Co., the Rattlesnake
Creek Water Co. and the Union Pacific Water Co.
V. 108, p. 785.
t
Jan. 1 -Mar. 31
Jan. 1 -Dec. 31
1
1921.
1920.
1920.
1919.
$38,359,125 $49,325,043 $209,049,510 $177,447,698
3,718.768
14,400,657
40,014.199
45.840,583
EARNINGS.—
Gross
Net after taxes
REPORT.—Report for 1919 in V. 110. p. 1844;
Co. Basis
Federal Basis—
1919.
s
Oper. exp. A taxes
revenue
Ac
Total income
taxes......
charges..
SECURITIES OWNED.—On Dec. 31 1919 the company and its sub¬
sidiaries held unpledged except as below ghown: (1) In affiliated companies:
Add'ns &
(a) stocks. $39,402,901; (b) bonds aod notes. $42,108,600; (2) In outside
companies' stock, $70,932,147; and 1 their bonds
notes and equipment
trusts, $117,146,300; (3) U. S. Liberty bonds, $16,362,050.
Common
Preferred
1916.
o
7,933
s
45,056,670
Other income
war
n
50,643,512
45,970,406
47,139,801
50,822,110
45,316,464
39,369.411
tir.527.086
38,416,111
dr.263,686
13.026,687
49.043.152
Net revenue
Fixed
7,987
8,016
$
114,412,607
69,355,937
Net from operations
rental
Federal
■
1917.
177,447,698 158,845.176 130,101,864
..128,404,546 108.201,664
84,131,458
/Federal
Income from inv.,
1918..
8,032
Average miles
Operating
97, p. 177. 445. 662, 730. 1288, 1904; y. 99. p. 895, 1675; V. 95. p. 1543
5.077.000
5,423.320
-
RR. Secur. Co. stocks..
was
110 from sale of Southern Pacific Co. stock.
U. P. stockholders In 1913, under an offer, which was underwritten, sub
scribed for $84,426,700 of said $88,357,600 certifs. of Interest at 92.
See V
ContACom TrAS Bk, Ch
1 1942
B.A O. RR. com. &
the Penn. KR.
do
A
$19,400, 000.
y
forclosed.
To build
Y
MAS.
the
■■■
Y
4 g
4
LATE DIVS.—
Kingston Point (on
with branches, a total of
outstanding. $1,900,00?
V. 75, p. 667; V. 79, p. 153.
ULSTER & DELAWARE RR.—Owns from
Hudson River), N. Y.f to Oneonta, 107.103 miles,
128.88 miles.
V. 74. p. 42.
Stock, $3,000,000;
par, $100.
As to refunding 4s
Fare increase, V. Ill, p. 1754.
Bankers Trust Co, N
1934
'21 2U% Office, 165 B'wav, N
Q—J
4 g
6 g
1,000
1912
RR.—Owns from Troy
$132,580; net, $13,811; int. A taxes, Sec., $10,609;
Pres., John O. Price; V.-P. & Treas., Wm. Selfridge,
T. P. Price, Tuckerton.—(V. 90, p. 628.)
Central Un. Trust Co,N Y
do
do
Co
n
was a deficit in the net operating revenue of $116,160.
added for taxes, $71,979, less net credit in miscellaneous items,
creating a not income deficit (before deducting fixed charges),
$147,185.—(V. 110, p. 1850; V. Ill, p. 390.)
River RR
J
Camden (NJ) S D A Tr Co
1952
10,000,000
1,000
1,000
1918
1920
was
GRERNBUSM
&
Troy, N Y
O
J
Payable
y£771,600
20,000,000
Ac
%
1917 there
Lease assumed by N. Y. Cent. RR. Dec.
A
are
1 1930
D
A
Where Interest ane
Dividends
26.835.225
x61.345.500
500
:
1908
$40,954,
&
A
Placei
Dividend
and Maturity
do
do
1921
2%
do
do
1 1947
Office, 165 B'way. N Y
I 1927
New
York and London
II 2008
500
1897
1907
,
TROY
J
4 g
200,000
99,543.500
Ac 100.000,000
300.
double track; leased to the Hudson
5 g
4 z
100 222,293.100 10in1920
Ry. Co. from June 1 1907 to June 16 1914, inclusive.
The 5% equip, bonds
1907 are guar, jointly, p. A i.j by Col. A Sou. and Cbic. R. 1. & 1.
p. 609.
Chic. R. f. A P.Jn 1916 and 1917 made no payment on
account of its guaranty of these equipment notes, of which $100,000 due
April 1917, were outstanding on Dec. 31 1917.
•;»
For year end. Dec. 31 1918, gross, $637,927; net, after taxes, def.. $201,-
000 stock.
5
100
V. 84,
For
$275,000
100,000
2,000,000
1,000.000
$50
1880
1888
of
to which
Last
Miles
RAILROAD COMPANIES
[For abbreviations,
IVOL. 112.'
STOCKS AND BONDS
RAILWAY
133
——...
—------
--------
49,274
1,258,501
11,747,311
11,791,367
12,246,971
51,869.012
2.293.226
49,899,736
2,795,633
57,157,105
1.627,972
58,562,142
15,156,573
14.513,368
6.3<9,835
3.981,740
14,004,260
lo,390,356
lot313,973
4,367,075
betterments..
........
divs. (4%).'..
3.981.740
3,981,740
3,981,740
dividends..(10)22.229.160(10)22229160(10)22229160(8)17783.328
Balance, surplus
$8,208,313
None
None
17,039,643
EAILWAY
May, 1921.]
Date
Par
Amount
Rate
When
Last
Dividend
Places Where Interest and
Bonds
Value
Outstanding
%
Payable
and
Maturity
Dividends are Payable
233
miles
1894
and
1901
canal
1908
1910
gold
--BB.zcAr
1-year notes guar (see text), ext. 1915-'16
Vlcksburg & Meridian—See Alabama A Vlcksburg
Vlcksburg Shreve & Pac Ry—Com stock $3,000,000.
Preferred stock 5% non-cumulative $2,200.000
General mortgage $3,500,000
—F.xo*
Vlcks Shrev A P RR prior Hen ext "15 at 5% g.Ce Jtc*
Equip, tr. Series "C ' and "D" 6s 1919.
Virginia Air Line—See Chesapeake A Ohio
Virginia & Caro Sou—1st M $1,000,000 g (see text) _x
Virginia Midland—See Southern Ry
Virginia & South w—1st M ggubyvalCACQx
First Consolidated mtg $7,000,000 gold._G,xo*&r*
Equip tr ser E due $25,000 s-a (V 93. p 1100)
Bax
do
do
ser F due $21,000 s-a
Ba.x
1889
1910
1915
100
ser
G due 24 M and 23 8 s-a
64.22
1913
1,000
1903
1.000 AC
1.000 Ac
1,000
1,000
470
1912
1920
1,000
DIRECTORS.—Otto H. Kahn, F. A. Vanderlip, Marvin Hughitt Jr.»
W. A. Harriman .Mortimer L. Schiff. Robert S. Lovett. Oliver Ames, WmG. Rockefeller, H. W. Clark, Ohas. A. Peabody. C. B. Seger, Robert
Goelet, F. W. Charske, Carl R. Gray and H. W. Clark.
Treasurer'8
office. Room 3234. 120 Broadway, N. Y.—(V. 112, p. 1400, 1618, 2085.)
J
A
a
O
Monongahela Southern RR.; total, 24.77 miles.
STOCK.—Auth. and outstanding, $2,000,000; par, $50; all or
owned
by U.
a
majority
BONDS.—See TJ. 8. Steel Corp. under "Industrial Companies" below.
(THE) UNION TERMINAL CO., DALLAS, TEX.—Owns union passen¬
ger station at Dallas, Tex., completed Oct. 1916, for use by the Mo. Kan. A
Texas, Texas A Pacific, Houston & Texas Central, Gulf Colorado & Santa
Fe (Atchison T. A S. Fe system), Trinity & Brazos Valley, St. Louis A San
Francisco, Chicago Rock Island A Pacific and St. Louis A Southwestern
systems, each owning 54th of the $48,000 capital stock.
Under 99-year
operating contract the company handles the passenger business of the afore¬
said companies, who discharge all its expenses, liabilities and receive all
income.
In Dec. 1915 the Trinity A Brazos Valley Ry. Co. had dis¬
continued operating trains Into Dallas, but while it la not released from
any of Its obligations under the operating agreement, its obligations
will as agreed, be discharged by the remaining companies. V. 101, p. 1887.
Covers about IV*
city blocks on 10 V* acres of real estate in business
-district, with 10 parallel tracks and space for 8 more; total trackage, 4.84
miles of main track, 11.80 miles of yard tracks.
All of the bonds ($5,000,000) have been Issued under said agreement, guaranteed prin. and int.,
Jointly and severally, by the eight proprietary companies. V. 98, p. 1073,
1158, 1394; V. 103, p. 146. In 1915-16 William Salomon A Co., N. Y.,
■offered these bonds. V. 101, p. 1887; V. 102, p. 1164,1898.
Notes extended
V. Ill, p. 1662. Pres., F. G. Pettibone, Galveston, Tex.; Sec., A. S. Steirer,
Dallas, Tex.; Treas., M. L. Buckner, Dallas, Tex.—(V. Ill, p. 1371,1662.)
UNITED NEW JERSEY RAILROAD A CANAL CO.—(See Map Penn¬
RR.).—Part of a system of roads In Northern New Jersey, extending from
Camden to South Amboy and from Trenton to Jersey City, with branches
and connections, a distance of 166 miles; Hudson
River ferries to New York,
I m.; Del. A Rarltan Canal, from Bordentown to New Brunswick, Ac.,
66 m.: Phila. & Trenton and Belvidere. Del:—which see—are leased lines.
LEASE.—Leased In June 1871 to the Pennsylvania RR. for 999 years;
rental equal to 10% on stook. interest on bonds, taxes. Ac.
Of the $21,240,400 stock outstanding, the Penn. RR. on
Dec. 31 1919
owned $1,350,000.
EARNINGS.—For year ending Dec. 31 1920, gross, $87,276,672; net'
-def., $4,948,015; other income, $1,015,507; war taxes, int., rentals, imp tsAc., $10,411,259; divs., $2,124,040; bal., def., $16,467,807.—(V.106,p.924.)
UNITED RAILROADS OF YUCATAN.—(V. Ill, p. 2042.)
UNITED RAILWAYS OF THE HAVANA Sc REQLA WAREHOUSES
LTD.—(V. Ill, p. 991. 1280, 1567, 2424; V. 112, p. 746.)
UTAH RAILWAY.—See V. 104, p. 1389; V. 105, p. 2544;
V. 106. p.2012,
UTICA CHENANGO & SUSQUEHANNA VALLEY RY.—Owns Utica,
N. Y.. to Greene, N. Y„ 75 miles; branch to Richfield Springs, 22 miles
Leasedto Dela ware Lackawanna A Western at 6% on stock.
No bonds.
—(V. 106. p. 601.)
UTICA CLINTON & BINGHAMTON RR,—Owns Utlca, N. Y., to
^andallvllle, N. Y., 31 miles.
Leased during continuance of chartei
-and renewals thereof to Delaware A Hudson Company, which pays rental
of
$31,500
street
lines
per
annum.
owned
Operated
(10 miles)
are
by N. Y. Ontario & Western.
leased to TJtfea A Mohawk v»ilev
pr $15,000 per annum.
Capital stock, $849,224 (par
which Is guaranteed by Del. A Hudson 5% per annum;
The
Ry
$100), $200,000 of
balance, variable—
35*% 1898 to 1912, incl.; 1913, 4%; 1914. 35*%; 1915 and 1916, 35*%:
1917,35^%: 1918.354%: 1919. Feb.. 15*%; Aug., 154%f 1920, Feb., 154%.
Aug., 154%: 1921, Feb., 15*%.—(V. 94, p. 1764.)
r
VALDOSTA MOULTRIE & WESTERN
RY.—Valdosta to Moultrie.
Ga.t 42 miles.
In Jan. 1916 the RR. was sold under foreclosure of 1st M
•to K. P. Jones, for this Railway Co.. organized Mar. 19 1917, with $350,000
capital stock.
V. 104, p. 258, 363.
The road was sold at public auction
in April 1921.
V. 112, p. 1618, 2085.
V. 112, p. 1026.
C. L. Jones,
Pres., and S. W. Jones, Sec.-Treas., Valdosta, Ga.—(V. 112, p. 471, 1026,
1618.)
F
VALLEY (N. Y.) RR.— Bingham ton. N. Y.. to State Line of Penn..
miles.
Leased to Delaware Lackawanna A Western at 5% per annum
ohitook
The $400,0001st M. 5s were purchased at maturity, Aug. 1 1911
-(V. 106. p. 601.)
II
VANCOUVER, VICTORIA & EASTERN RY. & NAVIGATION.—
Passenger and freight terminal at Vancouver, B. C.—(V. 103, p. 2080.)
VERA CRUZ TERMINAL— (VJ105, p. 1210; V. 106. p. 1578. 2015.)
VERMONT & MASSACHUSETTS RR.—Road, Fltchburg to Green¬
field, Mass., 56 miles of double track; branch, 3 miles.
Leased to Boston A
Maine RR. for 999 years from Jan. 1 1874 at 6% on stock, interest on bonds
and organization expenses.—(V. 79, p. 2589; V. 106, p. 818.)
VERMONT VALLEY RR.—Owns Bellows Falls to Brattleboro, Vt.
24.44 miles.
Controlled and operated by Boston A Maine RR., which owns
•entire stock, the Vermont Valley receiving earnings over charges with a
minimum guaranty of 4% on stock.
V. 76, p. 214; V. 94, p. 1628. Owns all
•cock of Sullivan Cc. RR., Bellows Falls to Windsor, Vt., 26.04 miles.
In
March 1911 acquired control of the Montpelier A Wells River, Barre and
Chelsea RRs., Incl., with spurs, 68 miles.
V. 92, p. 528, $66.
Dividend,
long 6%; *904. 8%; 1905 to July 1916. inch, 10% yearly; 1917-20. none.
do
do
do
Apr '17 coup pd July
July 2*20.254%
Apr 1921,
'17
D LAW RR. New York
Utloa (N Y)
City Nat Bk
New York Trust Co, N Y
No maturity
Del Lack A Western,N Y
3% 53 Devonshire St. Boston
Office Treas Fitchb'ff RR
Julyl 1916,
5% Jan 1917 dividend unpaid
Safe Dep A Tr Co. Boston
A
A
O Oct
1
1940
F A A-28 Aug 31 1916
See text
254 Treas. office, New Or!
254 Central Un Trust N Y
do
do
1940
Farmers* L A Tr Co. N Y
To 1922 A 1923
MAN Nov 1
Various
J
A
J July 1 1943
Safe
Dep
A
Tr.
Bait
a
Jan
A
A
do
do
Apr 1 1958
Nov 1921
Bankers Trust Co, N
Dec '21-June'23
do
do
A
Sept 21-Mar *24 Guaranty Trust Oo.NY
A
M
1 2003
Guaranty Trust Co, N Y
Y
66B
On Aug. 31 1916, James H. Hustls, President and temporary receiver
Boston A Maine RR., was made also temporary receiver of the
Vermont Valley RR., owing to inability to pay the $2,300,000 notes due
of the
that day.
V. 103, p. 805.
The six months' interest to Aug. 31 1917 on
was paid Oct. 1; the interest due Feb. 28 1918 to Aug. 31 1920 was
paid when due.
V. 106, p. 930.
Bonds ($1,500,000 1st 4 V$s of 1910) are secured by first lien on road, 24
idles, and additionally by deposit of $700,000 Connecticut A Passumpslo
Rivers RR. and $100,000 Massawlppl Valley Ry
stock.
V. 91. jp. 791.
the note
notes to construct the Brattle¬
_
boro extension and
acquire the Montp. A
Wells
River, Barre and Barre
Branch roads;
these are guaranteed by the Connecticut River RR. and
endorsed byB. AM. RR., and were extended to Aug. 311916.
Entire issue
owned by Boston A Maine
p.
8. Steel Corp.
do
MAN May 1 1923
II
a*
5
do
do
O April 1950
A
do
do
do
$ Sept 11948
A
UNION RR„ Pittsburgh.—Owns East Pittsburgh to Streets Run and
Duquesne, Pa., 9.92 m.; leased: North Bessemer to East Pittsburgh. Pa.,
8.08 m.; P. B. A L. E. RR.; Monongahela Jet. to Mifflin Jet., Pa., 6.77 m.;
do
31.271.500
Text
Jan "1921*" "3%
27.955,000 See "text
MAN May 1 1962
5 K
35,844.000
Farmers* L AT Go. A Lon
A
A
O Oct *21-Apr *30 New York and Phila
4,680.000
J & J 15 To Jan 15 1935
1,521,800
1920
(in charge of operations), H. M. Adams. Wm. A. Harriman; Sec..
Smith.
5 g
25,000
84.000
138.000
1.000
100
100
100 Ac
Thomas Price; Treas., Edward G.
W.
5 g
6 A 45*
2,000,000
5.000.000
1913
1914
A
A
J
524.000
136
209
1908
1911
M
1.323,000
OFFICERS, Ac.—Pres., Carl R. Gray (V. 109, p. 2264): V.-Ps„ E. E.
■Calvin
g
1.000
158.091
Q.y
Virginian Ry—Common stock auth $40.000,000
Pref stock $35,000,000 auth 5% cum red text-—
First mtge $75,000,000 g red at 110F,xc*&r*
Equip trust cert Ser "O" due $260,000 s-a
c*
do
due $108,700 annually
Q
Wabash-Pittsburg h Term—Sen Pitta & West V»
lg
5
1,000
1901
1885
188
25* Offloes, PennRR, Phila
2.856,500 See text
Sept 4 *19
text
2.142,800 See
yearly Apr 7 *20
5
MAN May 1 1941
1,922,000
100
188
Apr 10 *21
A Feb
4 g
6
3,193,000
772,000
text
1,000,000 See
1.500,000
45* g
6
2.300.000
1,000
50
1,000
1,000 Ac
188
&
1 1923
MAS Sept 11929
A
Moh 1 1944
35* g MAS Moh 1 1951
ig
4 g
750.000]
100
—
do
1,000
100
100
24
Q—J
F
MAN Nov 1 1920. 3%
6
4.000,000
649.224 See text F A A 10 Feb 1 '21 15*%
J
A
J July 1 1939
5
800.000
200.000
100
100
1903
10
$100 $21,240,400
1,000
1.824.000
1,000
6.020.000
1,000
5.646.000
1,000
5.669,000
1,000
841,000
£50 Ac
£825.000
1883,
18891
road
503
United RRs of Yucatan—1st M g red 101 beg'20 si par
Utlca fit Black River—See New York Central RR
97
Utica Chen & Susa Val—Stock 6% guar by DL4W
Utlca Clinten & Bin ghamton—Common stock ----First mtge guar p A 1 by Del A Hud (end) -..Njeo
II
Debenture stock, guar div
——
11
Valley (N Y)—Stock 5% guaranteed by D L & W_—
Van Buren Bridge—See Bangor & Aroostook BR.
Vandalia RR—See Fittsb Cin Oh A St Louis RR
Vera Cruz fife Isthmus—See National Hallways of M exleo
59
Vermont & Mass—Stock 6% guar by Bos & Maine..
Bonds currency guar p & 1 by Fltchburg RR —
"24
Vermont Valley Ry—•Stock-.- — — —
-— —
do
133
Road
United N J RR & Canal Co—Stock 10% guaranteed-.
General mortgage of Loan of 1923 gold
xr
xoAr
1871 for $20,000,- Loan of 1929 gold
xcAr
000
(now
first Loan of 1944 gold
x
mortgage) FP se¬ Loan of 1951 gold guar
cures all
equally Loan of 1948 gp &l gu.xc&r
mortgage $1,500,000
BONDS
Miles
;
RAILROAD COMPANIES
[For abbreviations, &c., see notes on page 6]
First
STOCKS AND
1675; V. 100,
Calendar
p.
RR.
V. 97, p. 1899; V. 98, p. 157, 238; V. 99,
1919; V. 105, p. 182, 999, 1310, 14l4;lL 106, p. 930.)
Cross
Net, after
Other
Interest,
Taxes.
Income.
Rents, cfee.
$166,447
$119,907
$251,173
1919
630,380
178,667
121,375
216,442
—(V. 105, p. 182, 999, 1310, 1414; V. 10&, p. 930; V. 107,
Year— Earnings.
1920..—$894,763
p.
Balance,
Surplus.
sur.$35,181
sur. 83,600
907.)
VICKSBURG SHREVEPORT & PACIFIC RY.—Delta. La., on Mis¬
sissippi River, via Shreveport, to Texas line, 188 miles.
Of this, 17 miles.
Shreveport to Texas State Line, is leased to Mo. Kan. A Tex. till July 1925.
5
BONDS,
to take up
1940 at 5%
Ac.—Of the $3,500,000 general 5s, $1,323,000 are reserved
at maturity the prior lien 6a which were extended In 1915 to
and $255,000 In treasury for future needs.
V. 101, p. 774,1629.
DIVS—
f '06. '07. *08. '09 to *12. *13. *14. *15. *16.'17
Common
J
None
2
0
0
0
25*
Preferred --1-5% yrly0
6% yearly— o
5
5
Paid 25*% on the pref. stock In Aug. and Sept. 1918;
_
..
*18 '19
1920-
25* 25*
25*
April and Sept.
5
5
1819, Apr. 1920.
Jan. 1 -Mar. 31
1920.
EARNINGS.—
1921.
Gross
$1,035,522
21,673
Net after taxes
REPORT.—For year
1919, based
$1,169,239
305,960
on
Jan. 1 -Dec. 31
1920.
1919
$4,522,271
389,589
$3,323,329
480,317
expected U. S. compensation:
Year—
Gross.
Net Inc. Int., &c. Pf.(5%).
Com. Divs.
Surplus.
1919---..$3,323,329x$430,120 $245,021 $107,140 (25*)$71,413
$6,546
1918
2,689,104
457.820
277,909
107,140 (25*) 71,412
5,241
1917
2,206,558
747.238
172,852
107,140 (25*) 64,271
402,975
1916
1,305,138
633,630
J81.362
107,140
345.128
x Standard return plus other income.
Pres., L. A. Jones; Treas.* Adolpno Wolfe.- (V. 109. p. 1789; V. 110.
P 1090.)
VIRGINIA fic CAROLINA SOUTHERN RR.—Owns from Lumberton,
N. C., north to Hope Mills, 25.23 m.; St. Pauls, N. G., to Elizabethtown,
27.71 m.; Lumberton Jet. to North Lumberton and East Lumberton,
3.86
m.; sidings, Ac., 7.42 m.; total, 64.22 m.
Stock at last accounts,
$141,000; majority owned by Atl. Coast Line.
Year ended Dec. 31 1920.
Gross, $174,979; net, $46,298; other income, $9 17; interest, $26,924;
rentals, Ac., $15,587: bal., sur., $4,703; total surplus, $100,634.
Pres.,
A. W. McLean, Lumberton.—(V. 86, p. 1345.)
VIRGINIA & SOUTHWESTERN RY.—Owns Brlstol.Va., to coal fields
around St. Charles, Va., and southerly to mines at Mountain City, Tenn..
with branches, 151 miles; Moccasin Gap to Persia Jet., Tenn., 38 m. Leases
Rogersviile via Persia to Bull's Gap, Tenn., 14 m.; trackage, 22 m.; total,
225 miles.
In 1908 Southern Ry. purchased the $2,000,000 stook at $200
per ehare and on July 1 1916 took a lease of the road for one year and from
year to year thereafter until terminated by either party, at a rental equal
to Int. on bonds and equip, trust obligs. V. 87, p. 98; V. 103, p. 321. Divi¬
dends 5% each paid June 1912, June 1913 and Feb., Juno and Doc. 1914,
Judo and Dec. 1915 and June 1816._ Virginia Iron, Coal A Coke Co. guar.
1st M. oonds, p. A 1.
cooboI
are
.
V. 7
50-year 5s ($7,000J
reserved to retire 1st
V. 93. p.
1192—(V. 103,
VIRGINIAN
p.
321, 1509, 2073.)
RAILWAY.—(See map.)—The main
line of the road
ex*
tends from Deepwater, on the Kanawha River, in West Va., to Sewell
Point on Hampton Roads, near Norfolk, Va., a distance of 441 miles. Wind¬
ing Gulf branch, Mullins, W. Va., to Fireco, 31 miles; other lines owned
and leased, 30 m.; total, 523 m.
'
Road taps the Pocahontas and New River coal fields, and forms "the short¬
est possible route to tidewater over the lowest grades."
From Princeton,
the main coal-gathering yard, 350 miles west of Sewell's Point, the eastbound grade does not exoeed 0.2 of 1%, or 105* ft. per mile, except for a
9-mile section over the Allegheny Mountains, where the maximum grade
is 0.6 of 1%, or 32 ft. per mile: on this section a pusher is used.
One
locomotive will haul 80 loaded 50-ton coal oars, or 4.000 tons of coal per train.
STOOK.—Pref. stock la redeemable as an entirety at any time after 3
years
from date of issue by vote of majority in amount of all
the outstanding
stock on payment of $105 per share, plus any accumulated
The shareholders on Jan. 27 1917 authorized an Increase of
dividends.
capital stock
$40,000,000 common and
$35,000,000 5% cum. pref. stock.
V. 104, p. 258, 453.
In Feb. 1917 paid dividend of 7% on pref. stock on account of aocumution.
V. 106, p. 2346.
In Jan. 1921 paid 3% on pref. stock.
from $65,000,000 to $75,000,000, consisting of
BONDS.—The first 5s of 1912 ($75,000,000 auth. Issue) are a first lien
on
all property owned or hereafter acquired, including terminals and
equipment. The remaining $39,156,000 are reserved for extensions of the
main line at not over cost, or $75,000 per mile, additional branches or
second track not to exceed $50,000 per mile, additions and Impts. of Vir¬
ginia Terminal Ry. at not to exoeed actual cost, additional equipment, and
other additions and equipment at not over 75% of cost, and 75% of cost of
not less than 60% of the securities of other companies whose properties
form extensions or can be operated advantageously therewith (to an aggre¬
gate not exceeding $10,000,000), to acquire stocks under restrictions named
Willinju
CO
W
fc
gj
s;
QQ
H3
o
8
U2
W
o
32
o
F
M
S
May, 1921.]
RAILWAY
RAILROAD COMPANIES
[For abbreviations,
Ac.,
see
Miles
Date
Road
notes on page 6]
STOCKS AND BONDS
135
Par
Amount
Rate
When
Last
Value
Bonds
Outstanding
%
Payable
and
Dividend
Maturity
Places
Where Interest and
Dividends
are
Payable,
<■
/
Wabash Railway—
Common stock, §65,274,400
Pref stock A 6% prof-ahar, red 110 aft 5 yrs (text)
Cony 5% pref stock B red
I
Underlying Securities—
First mortgage gold ($34.000.000)
Ce.xc*
.
.
'
•
'
$100 $61,799,125
100
64,434,400
_
100
1.542
1.000
1.000
1889
1889
'
33,891,000
1.000
1889
1,009
1,542
Deben mtge Income non-cum Series B not red
Ba
Detroit A Chicago Ext 1st M g s I red 110 ...Ce.zc*
1,248,450
2,535.000
150
1891
94
1899
1901
1,000
Ac
&c
1.000
100,000
200.000
10,381,000
300,000
390.000
144
1901
500
1904
1.000
Kan City Exc Sp & Nor M g guar (V 79 p 2697) _z
Columbia A St Louis $300,000 gold guar o ALSSt *
9
Equipment gold notes, due $741,500 yearly
Wabash Chester & Western—First mtge gold
1901
1902
22
Q
1920
so*
42
First consolidated mortgage $1,000,000 g_> SSt.zc
Warren (N J)—Stock 7% perpetual guar D L A W>..
Ftrst ref mtge $2,000,000 g gu p & I
F.x<
65
1888
50
1,800,000
1.394.000
3H
1901
378,000
1907
-
Ac
41
1.000
1902
V. 95, p. 44.
1920.
1919.
(minimum)
income
Rentals, &c
1
$1,845,632
$1,444,064
1919 bituminous coal tonnage was 5,463,321, against 6,279,289 tons
G. H. Church; Asst. Treas., I. A. Browne, 55 Wall St., N. Y.
DIRECTORS—William E. Benjamin, W. R. Coe, E. W.
Knight.
C. W. Huntington, G. M. Hyams. Adrian H. Larkin, Edwin S. Marston,
Noel McVicker, H. H. Rogers, William H. Truesdale, Charles H, Hix.
68, 794, 1085. 1371.)
WABASH RAILWAY.
(See Map.)—Embraces lines as follows. Tlx.:
Owned and operated—•
Owned and operated—
Miles.
Miles.
Delray, Mich., to Butler, Ind__
110 Pattonsburg, Mo., to Council
Montpelier, O., to Clarke Jet.,
Bluffs, la
144
.
150
Toledo, O., to Aladdin, 111
C,& W.I. Jet. to Effingham,111.
Decatur to Bridge Jet
Other
460
205
451
Total owned & operated
109
274
Oper. under trackage rights—
Moberly, Mo., to Ottumwa, la.
2,034
Leased
St. Louis to Harlem, Mo
131
9
430
Total operated Dec. 31 1920.2,473
| Owned and not operated
Entrance to Chicago Is over Chic. &
company owns
$1,000,000.
V.
109,
p.
2074, 2173;
V.
110, p
1090.
STOCK.—The pref. shares A and B are respectively pref., prim and divs.
(noo-cumulative) and are callable after 5 years at 110*
The A shares are
entitled, after payment In any year of 5% on all stock (com. and pref.), to
participate in any further dividend for that year at the same rate as de¬
clared on common stock
(above said
5%).
Of the authorized com¬
mon and convertible preferred,
$3,750,000 and $1,250,000 respectively
were Issuable from time to time on account of claims against old <*0.
The
pref. and common are issuable as needed for conversion of pref. B. and In
Apr. 1921 the amounts outstanding had been increased chiefly In this man¬
ner from the totals issued at reorganization in
1915, namely $43,540,000
and $46,200,000, respectively, to the amounts shown in table at top of
page.
V. 108, p. 1929; V. 107, p. 182; V, 101. p. 2072,1599; V. 102, p. 1812.
The holders of the convertible pref. stock
may at any time after Aug
J
1918. and up to 30 days prior to any date fixed for the redemption of the
entire issue of said Profit Sharing Pref. Stock A, convert the same Into and
exchange the same for profit-sharing pref. stock and com. stock at the rate
of $50 of
profit-sharing pref. stock and $50 of com. stock for each $100 of
convertible pref. stock, with adjustment of unpaid dividends
DIVIDEND8.—No. 1 on pref. "A" atock Jan 29 1917. 1%: April. July
and Oct., 1%; 1918, Jan. and April, 1%; none since to Apr. 1921.
Com¬
V. 108. p. 1929; V. 109. p. 2264.
BONDS, &c.—The plan of 1915 left It to the new co., after reorganiza¬
tion, to provide, by a First & Ref. Mtge., or otherwise, for refunding the
underlying bonds at maturity and for future capital requirements.
Abstracts of' the mortgages of 1889 were In
V.49. p. 270-273; Delroit
& Chicago ExXen. mtge., V. 54. p. 1049.
Des Moines Division bond#
of 1899. see V. 68. d. 574; V. 69, p. 1248.
Col. A St. L. RR.. V. 73. p. 338.
786, 1012; V. 74, p. 1040; V. 75. p. 680.
For $10,000,000 terminal gold bonds of 1904, see V. 70, p. 430, 753.1032;
V. 81. p. 1437: V 82. p. 570; V
83. p
1230; V. 84. p 997.
Equipment trusts issued to Director-General for rolling stock allocated
to"this company.
See article on page 3.
Government loan, V. Ill, p. 794.
EARNINGS—
1921.
1920.
pare
1
to \ Gross.
$14,337,572
$13,642,364
Mar. 31.
/Net after taxes
945.382
def.48,040
REPORT.—For calendar year 1920, in V. 112, p. 1861, showed:
Corporate Income
Oper. revenue March
Account for Year Ended December 31 1920.
1 to Dec. 31, $50,824,442; oper. exp.,
$50,117,371; net revenue
Tax accruals, $1,329,447; uncollectibles,
$2,279; total
Total operating income (deficit)
Fixed charges, $7,219,746; less non-operating income, $793,435..
Net deficit for 10 months ending Dec. 31 1920
do
do
do
do
J
A
J Jan
11939
Reading Trust Co. Pbila
A
A Feb
1 1945
Washington A New York
A
A Feb
1
F
&
July 1 1925
A Aug 1 1930
g
July 1913 coup last paid
J
A
J Jan
1 1928
July 1894 paid July 1 '96
A A O 15 Apr 15 1921 3^ Del Lack & W RR, N \
F
A
A Aug 1 2000
do
do
5 g
J
July 1 1918
U
1047
S Tr Co.
Bankers
N Y;
Trust
Co,
A Bait
NY
$971,135
8,063,774
$9,034,909
$1,983,942
Combined
$707,070
1,331,726
$624,655
6,426.311
$7,050,966
Federal
and
Corporate
Income
Account.
(Roads operated by U. S. RR. Admin, from Jan. 1 1918 to Feb. 29 1920.)
1920.
1919.
1918.
1917.
Gross oper.
revenues...$59,982,282 $48,847,085 $48,246,411 $40,471,998
def.454,940
2,805,153
6,685,998
10,543,882
Non-operating income..
863,291
728,707
582,361
571,787
Net oper. income.
Gross income—
Total deductions
sur. or
$408,351
7,778,177
$3,533,861
6,082,812
$7,268,358 $11,115,669
7,780,660
6,888,564
def.def.7,369,826def$2548,951 sur$487,699sur$4227,105
OFFICERS.—Chairman, William H. Williams; Pres., J. E. Taussig;
V -Pres. (in charge of traffic), W. C. Maxwell; V.-P. & Gen. Mgr., S. E.
Cotter; V.-P. & Gen. Solicitor, N. S. Brown; V.-P. & Comp., L. G. Scott;
V.-P., Sec. & Treas., J. O. Otteson; V.-P., H. R. Winthrop
DIRECTORS.—William H.
H.
K.
Pomroy, J.
Williams. J. E. Taussig, Alvin W. Krech.
Horace Harding,
George W. Davison, J. C. Otteson,
Robert Goelet, Winslow S. Pierce, William A. Jamison, H. R. Winthrop,
J. Leonard Replogle, John N. Willys, T. E. Wilson, C. G. Edgar.
Office,
120 Broadway, New York.—(V. 112, p. 1618, 1861, 2085, 2191.)
WABASH CHESTER & WESTERN RR.—Menard, III., to Mt. Vernon.
111., 65 miles.
On July 15 1914 J. Fred. Glister of Chester, 111., was
appointed receiver.
V. 99, p. 344.
Stock. $1,250,000; par, $100.
First
ooqsoI. mtge. coupons due July 1894 paid July 1896;
none paid since; on
1st M. bonds the July 1913 coupons were those last paid.
Year ending
Dec. 31 1919, gross. $155,192; def., $23,126; Int., taxes, &c., $35,151; bal..
def., $58,277. Co-operative contract signed in July 1919.(—V. 92, p. 1637,
V. 99, p. 2111; V. 109, p. 372.)
WARREN RR., N. J.—New Hampton Jot. to Dela. Bridge, N. J., 19.9
Leased In perpetuity to Dela. L. & W, at 7% on stock and Interest
bonds.
See form of guaranty. V. 72, p. 628.—(V
106. p. 601.)
m.
on
ORGANIZATION.—Incorporated In Indiana Oct. 22 1915 as successor
of Wabash RR. (foreclosed) under First Ref. & Extension Mortgage, and
reorganized per plan in V. 100, p. 1599, 1594; V. 101. p, 1975.
Took pos¬
session Nov. 1 1915. The plan reduced the fixed charges from $5,795,278
to $3,183,915. besides eliminating guaranties and unsecured obligations.
V. 108. p. 270, 1927.
Federal compensation negotiations, V. 108, p. 1929.
(Contract not
signed to Dec. 31 1920.)
Jan.
do
do
♦Subject to change when contract is executed definitely fixing the amount
7
West. Indiana, of whose stock this
Deficiency Judgment in foreclosure affirmed.
1954
1 1928
of annual compensation.
Balance,
OFFICERS.—Chairman and Pres., C. W. Huntington; V.-Pres., A. H
Larkin and Chas, H. Hix; Sec,, James Clarke.60 Wall St.. N. Y.; Treas.,
j
do
1
Section 209, March 1 to Aug. 31 1920
in 1918, 6,398,836 in 1917 and 5.509,798 in 1916.
Ind
do
J Jan
J Jan
♦Compensation accrued under Federal control (on basis of stand¬
ard return) for use of property in Jan. and Feb. 1920
Government guaranty accrued under Transportation Act, 1920,
1918.
Surplus
p.
1 1941
&
Credit income balance transferred to profit and loss
$12,075,305 $11,906,444
2,900,304
2.628,526
3,247,603
3,247,603
219,637
300,973
1,562,835
1,521,184
140,109
501,994
revenue.
revenue
—(V. Ill,
do
1919.,
$4,001,139
$3,553,691 $18,180,051 $12,075,305
611,819
660,403
4,294,822
2,466,868
year end. Dec. 31 1919 in V. Ill, p. 68.
Interest charges
In
do
do
Total
Jan. 1 -Dec. 31
1920.
Calendar Years—
Other
do
do
m g F
6
142,000
660,000
1270:
do
1939
1941
A
g
5 g
720. non
1919
1 1941
1
1
J
0
12.000,000 3H A 4g F
1.000
21
O Oot
Go's off, 120 B'way, N Y
do
do
do
do
MAN May 1 1942
J & J 15 To Jan 15 1935
5 g
1.000
1.000
A
_
3%
A
J
7
1,000
REPORT.—Report for
Federal compensation
2 A
J
4 £
6 g
1893
Equipment trust 6% Cert, of Apr. 1 1920. V. 110, p. 1291.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Net
4 g
4 g
1900
1905
In the mtge. V. 94. p. 1058, 1187. 1318, 1385. 1765;
V. 98. p. 454, 1539: V, 102, p. 252; V. 105. p. 2186
Gross
J Jan
19
Vand—1st M $1,500,000 g gu pAl.SBa.xo*
Waycross & Western RR—First mortgage notes
Weath Minn Wells & Nor—1st M gu end (text)_„__Nx
West Chester—See Pennsylvania RR
Net after taxes
J
A
MAS Mch
3X
'
Wash &
1921.
A
J
1,000
1.000
18
& Columbia River—See Northern Pacific
County—See Maine Central RR
& Franklin—1st M $475,000 g Int rent..i
Ohio & Western—See Southern Ry
Wash Ter—1st M g gu($2,000,000 4s) (text) ,Us.xo*Ar
Government loan, V. Ill, p. 794. 1371.
Jan. 1-Afar. 31
J
18
Washington
Washington
Washington
Washington
EARNINGS.—
Gross
5 K
4 2
4 g
3.923.909
500
Omaha Dlv $3,500,000 gold (V 75. p 686) --Eq.xc*
1st lien terminal mtge $10,000,000) go!d__Ba.xc»&r
MAN May 1 1939
F
A
A Feb 1 1939
J
A
J Jan 1 1921
6
1.600.000
3.000,000
3.173.000
Toledo
-
5 2
5 g
13,993,000
1.000
1.000
225
Des Moines Dlv 1st M g$l,800.000!(V68, p574) Nxo*
& Chicago Dlv mtge g $3,000,000 -.CoLxc*
Apr 30 1918 1%
12,259.441
WASHINGTON
CENTRAL RY.—See Northern Pacific Ry.
FRANKLIN RY.—Hagerstown. Md.. to Zumbro.
miles.
Controlled by Phlla
& Reading By.
Leased to Western
Maryland for int. on bonds and 5% on $150,000 stock; par $50 per share,
(all owned by Reading Co.)—(V. 73, p. 392.)
WASHINGTON
&
19-11
WASHINGTON POTOMAC & CHESAPEAKE RY.—(V. 106, p. 88.)
WASHINGTON TERMINAL CO.—Owns union station at Massachusetti
Washington, D. C., with terminal and approaches; opened Oct. 27
V. 85, p. 1144.
The Pbila. Bait. A Wash. (Penn.RR. system) and
A Ohio own the outstanding 54.252,000 stock (autb. amount
55.000,000) and guarantee the bonds, of which 510,000.000 bear 3H% int.
and
52.000.0O0
4%.
V
80. r
1973*
V. 76, p
812
•
*
V
77. p.
252; V. 80. p. 652, 1176,1364; V. 85, p. 42; V. 89, p. 44.
Form of guaranty,
V. 84, p. 1368.
Other tenants, Southern Ry., Rich, Fred. & Potomac RR.
and Ches. & Ohio Ry. Equipt. trusts issued to Director-General for rolling
stock allocated to this co. See article on page 3. Pres., Samuel Rea, Phila¬
delphia; Sec., C. W. Woolford; Treas., E. M. Devereux.—(V. 110, p. 972.)
Ave.,
1907.
the
Bait.
WASHINGTON & VANDEMERE RR.—Washington, N, C„ to Vandeon Pamlico Sound. 42 miles, completed Jan. 1909.
Stock all owned
by Atlantic Coast Line RR., which guarantees the bonds, prin. & int. Bonds
are issuable at
$18,000 per mile, inel. $4,000 for equipt. V. 84, p. 1249.
Form of guaranty, V. 85, p. 347.
For year Dec. 31 1918, gross, $5,092;
int., taxes, &c., $46,012; bal., def., $40,920.—(V. 85, p. 2347.)
mere
WATERTOWN & SIOUX FALLS RY.—Owns Sioux Falls, S. D„ to
Watertown. 106 miles.
Successor of South Dakota Central Ry., foreclosed
June
1916.
$1,500,000 authorized.
Admin, and the Great Northern Ry.
of the properties of the company
gross amount to the Great Northern Ry.
12
Capital
stock,
The contract between the U. 8. RR.
takes
in a
care
of any compensation for the use
Calendar
Years
Gross earnings
Net. after taxes
1915.
$367,168
83,942
1916.
1917.
1918.
1919.
$160,621
$287,961 def.$34,902 def.$1,064
55,246 def.33,068 def. 51,519 def.22,837
OFFICERS.—Pres., C. O. Kalman; Sec. Treas., F. L. Paetzold.—(V.
103, p. 62.)
WAYCROSS & WESTERN RR—Operates from Waycross to Cogdell, Ga., 21 miles.
Reorganized in June 1919 (following, it Is under¬
stood, foreclosure sale)
with $50,000 of authorized capital stock and
$142,000 6% 5-year notes (all sold) secured by mortgage on the road. The
was to be junked (V. 109, p. 380).
Has "short line"
co-operative contract with U. S. RR. Admin.
President, Alex K. Sessoms.
Office. Waycross, Ga.—(V. 108. p. 81, 380; V. 109. p. 478.)
remainder of the line
V
WEATHERFORD
MINERAL WELLS &
NORTHWESTERN RY.—
Weatherford via Mineral Wells to Graford, Tex., 41 miles.
Stock.
5100,000, of which Texas A Pacific owns 594,680.
Latter guarantees the
bonds ($1,354,000 authorized Issue), principal and Interest, by endorse¬
Owns
V. 75, p. 908, 1356.
See form, V. 78, p. 344.
Annual compensa¬
tion under Government control fixed at $31,148.
V. 109, p. 478.
Pres.,
J. L. Lancaster, Dallas; Sec., J. Burke, Dallas.—(V. 109, p. 478.)
ment.
WELLSVILLE & BUFFALO RR.—Operations suspended Nov. 1 1910.
Pres., Charles A. Finnegan, Depew, N. Y.—(V. 103. p. 1594.)
EAILWAY
136
West
Date
Par
Amount
Rate
When
Road
Bonds
Value
Outstanding
%
Payable
dec., see notes on page 01
Jersey & Seashore—Com
50
50
stock
Special guaranteed stock (lnclud $19,500 WJ RR).
338
338
338
Mortgage Series A g s f
xc*
Series B $1,500,000 gold
xc*
Gold Series C & D ($756,000 Series C 3 m _xo*
First Oonsol
Gold Series
E
338
x
Gold Series F
xc*
West Shore—1st M gu p & I end by N Y C-.Unjio&r
479
West Side Belt RR. Pitts—See Plttsb Terminal RR & Coal
West Virginia Central & Pittsburgh—See Western Ma ryland
West Virginia & Pittsburgh—See Baltimore & Ohio
Westers (Ala)—1st M g guar by O Ga and Ga RR_xc*
130
Western Maryland—Capitalization issued or assume dby N
Common stock $50,000.000
1890
1.000
1896
1890
1898
1898
1880
1.000
1,000
1,000
1.000 A
lxtARef M. $150,000,000 Ser A (see
1,000
1888
Bai Iway
Co
Underlying Bond and Equipment Issues—
First mortgage $50,000,000 gold
Ba.xc* Ar__
Eqtr "B" due 10 $23,000 s.-a. then $22,000—Eq
a Equip obligations due $111,313 s-a
...
ado
do
;
due $58,865 s-a
a do
do
due $108,324 yearly s-a
a do
do
due $54,992 s-a
Equip gold notes pref series due $100,000 yrly.Eq.c*
a8Sum_MeBa.sc* &r
„
Bait & Cumb Val RR 1st mtge—
31
3
5
--
-
66
Bait A Harrlsburg Ry mortgage gold-MeBa.*
Bait A Harrlsburg Ry W Ext g guar..-MeBa.z—c*
Haz. Wh'f Co 1st M $150,000 g(V 87 p 482)MeBa.c*
Securities of Leased Lines—
Bait A Cum Val RR Ext stk gu ($270,000 7%)
First mortgage Interest rental —
Baz
Western N Y & Peon—1st M ($10,000,000) g-Ba.xo*
General mortgage $10,000,000 gold
—Un.xo*
Income bonds $10,000,000 gold non-cum __FP.xc*
a
Amounts paid seml-ann. represent prln.
1917
1,000 Ac
15
1.000
1.000
000
1917
1917
1921
1891
1879
1879
1880
1888
1914
1,000
1,000
500
100
Ac
1,000
1,000
500 Ac
the lines
1,000
1,000
1,000
1.000
1881
1887
1895
1895
x
A Int. Incl uded
Held
by Pullma
&
on
Federal Compensation, $952,681
(contract signed).
fused the six months extension of the Govt, guaranty.
The company re¬
increase in the
On Dec. 31 1920 Penn.
and $45,350 pref. stock.
STOCK.—The stockholders on Feb. 4 1915 authorized an
common
stock from $10,000,000 to $13,000,000.
RR. owned $6,747,900 common
March 1905. incl., 5% yearly)
DIVIDENDS.—Common, Sept. 1890 to
then to'07. incl.. 6%
In Oct.
yrly;'08.4%: *09.44%: TO to Apr. 1 '20. 5% (A.-O.)
April 1921 div. deferred. V. 112, p. 1026.
1920 paid 1 lA%.
BONDS.—First consol. mtge. Is for $7,000,000;
V. 62, p. 1179; V. 84, p.
$90,000 reserved for prior
160; V. 89, p. 995; V. 92.
1702; V. 100, p. 57, 311, 473; V. 102. p. 1156.
Jan. 1 -Mar. 31—
Jan. 1 -Dec. 31
EARNINGS—
1921.
1920.
1920.
1919.
Gross
$2,493,322 '' $2,323,748 $13,914,442 $11,971,020
Net after taxes
def.533,339 def.869,706 def.648,765
245,967
lien bonds when due,
p.
—
V. Ill, p. 488, showed:
Fixed Chgs. Divs.(5%).
Bal.
x$l,212,433
$610,243
$579,313 $22,877
7,150
xl ,090,191
497,460
579,313
13,412
19178.555.048
1,040,803
1,140,890
625.308
579,313
2,270
x Includes $952,682 tentative compensation and other income.—(V. Ill
p. 488; V. 112, p. 1026.)
REPORT.—Year ending Dec. 31 1919,
Gross.
Net.
Total Inc.
1919-S11,970,020
1918— 10,599,543
WEST SHORE RR.—(See Maps N. Y. Central A Hudson
River.)—Wee
bawken, N. J., opposite N. Y. City, to Buffalo, N. Y., with branches.
479 miles.
Between Utica and Syracuse Is equipped electrically.
New York Central 4
Hudson River (now New York Central RR.), with the privilege of a further
term of 500 yeare, and all earnings, Ac., Included in that company's report
The $10,000,000 of stock le owned by the New York Central RR.
BONDS.—The bonds cover 479 miles of road and also the terminals at
Weebawken.
Abstract of mtge. in V. 42, p. 176.
Advances for additions
and betterments by lessee to Dec. 311918, $16,874,953.—(V. 109, p. 1457.)
LEASE.—Leased
WESTERN
in
(THE)
Central Trust Co. of
1885
for
475 years
to the
RY. OF ALABAMA.—Selma to West Point, 133 m.
N.Y., as trustee under Central Railroad A Banking
Co. coll. trust 5s of 1937, and Louisville A Nashville, as trustee for Itself
and Atlantic Coast Line RR., each own one-half the $3,000,000 stock.
The $1,543,000 4>$s of 1888 due Oct. 1 1918 ware extended to Oct. 1 192?
at 6%.
i
Atlanta A West
operated in close
The three properties will be directed as to
In March 1920 announced that the Georgia RR., the
Point and the Western Ry. of Alabama would in future be
organization independently.
operation from Atlanta, Ga.
The com¬
refused the six months' extension of the Govt, guaranty.
'07-T3. 1914 to Dec.'20
Per cent—12 y'ly
3
0
2
7
4
4 v'lv
5 v'ly
6% (3%
s. a.)
For year ending Dec. 31 1920, gross, $2,788,432; net, after taxes, $207,215; other income, $286,580; gross income, $493,795; deductions, $220,459
net income, $273,336; dividends (6%), $180,000; bal., sur., $93,336.
C. A. Wickersham, Pres., Atlanta, Ga.—(V. 110, p. 1291.)
DIVS.—/'94-'96. '97. *98. '99. '00. *01. WOO.
WESTERN
MARYLAND
RAILWAY.—Embraces;
Baltimore, Md.f to Belington, W. Va.t Connellsville, Pa., and
Highfield, Md
453.04
Sundry branches (incl. roads merged in Feb 1917, V. 104, p. 74)——162.63
Total owned In fee
___615.67
Leased, Ac., Lines.—Bait. A Cum. Val. Extern. 26^1 m.; Wash. &
Franklin Ry., 19.1 m.; Somerset Coal Ry., 4.37 m.; Fairmont
Helens Run Ry., 6.26 m.; Fairmont-Bingamon Ry., &c., 8.22 m.;
total
65.39
—
Trackage Rockwood Jet. to Coal Jet., Bowest June, to Chiefton, Ac
Total (with also 79.25
26.49
2d and 352.06 m. sidings
707.55
May 1917 leading stockholders (including, it is understood, the
Rockefeller interests) purchased a controlling amount of stock In the Wheeltag A Lake Erie Ry.
See V. 105, p. 1709 ; V. 107, p. 180.
In July 1917
Oarl R. Gray, President of Western Maryland, became Chairman of Wheel.
A L. E. Ry.
V. 105. p. 182, 1709; V. 108, p. 270.
m.
In
-
ORGANIZATION.—A consolidation Jan. 23 1917 per plan in V. 103, p.
1700, of "The Western Maryland Ry. (formed as stated In V. 89. p. 287),
74, 766, 1047, 1265; V. 105, p. 717.)
Thisplan was to affect the status of the coal, Ac., properties as follows:
(a) The acquisition by the new company of all the system's terminal
and subsidiaries, Ac. (V. 104, p.
properties at Baltimore, Including grain elevator with storage capacity of
1,900,000 bushels. Ac.
(b) The underwriting and offer to shareholders at par of $18,000,000 7%
1st pref. stock (cum. from July 1 1918) In amounts 30% of their holdings,
the subscriber with each $100 of 1st pref. receiving also $22 stock of Davis
Ooal A Coke Co. and $25 stock of Monongalia Coal Lands Co.. (V. 103, p.
2157; V. 104, p.766),thus distributing the entire outstanding stocks of the
In 1917 these coal properties were merged. V. 105, p. 1421, 717^.
c°al cos.
(c) The lease to the Davis Coal & Coke Co. for 99 years of all the rail¬
coal mining properties and the transfer of the reserve coal lands to the
Monongalia Coal Lands Co., this measure, with the distribution of their
•tock, removing danger of legal complications owing to ownership of coal
properties by the railway.
The new railway co., under the lease, was to
receive as rental 6 cts. per ton on coal mined and was to transport all the coal.
Davis O.AO. Co. was to operate 31 mines having an annual capacity of
2,500,000 tons, and reporting for fiscal year 1915-16 an output of 2,004.000
tona and net profits of $200,000.
V. 103, p. 1791.
way a
do
do
do
do
do
do
do
do
1936
12361
Grand Central Term, N Y
A
O Oct
A
11928
Guaranty Trust Co, N Y
New York
J July 1 1967
A
5 g
tZ
Oct
A
July '21-Jan '26
6
A
To March 1920
A
To Sept.
A
M
&
Mar 1
«J
A
Jan
A
A
July 1 1929
July 1 1929
Nov 1 1936
May 1 1938
A
Oct
J
4.52
7 g
I*
A
Jan 1921
J
A
J
A
July 1 1931
Jan
1 1937
A
A
A
5 g
£ *
5 g
5A7
6
5 g
4 g
5 g
n
do
1920
Aug'21 toFeb'27
Dec'21toJ'ne'27
4%2
A
A
Nov
Apr
Apr
:
V/.v--'
Co, N Y
71 Broadway. N Y City
First National Bank
Bankers Trust
1 1952
A
do
'22 to *36 New York
Nat Bank of Com.. Bait
1 1941
National Bank of Com.
do
do
do
do
do
do
Merc Tr A Dep Co
1 1924
Bait,
71 Broadway, NY
City
Nat Bank of Com. Bait.
Treas. Phil. A N. Y.
do
do
1 1943
1 1943
Tr—when
Fidelity
earn
Co.
Description of New
$150,000,000 First and Refunding
Initial $6,500,000 pledged to secure
Mortgage.
the Issue of $5,000,000 7 % 3-year
which, it Is understood, were taken by John D. Rockefeller
Interests on account of advances.
V. 105, p. 1619, 1709.
notes
and allied
A direct first mtge. upon road _rom Cumberland, Md., to Connellsrllle. Pa., together with branches, In all 119.49 miles;
(2) a new First Lien
by pledge of all securities representing ownership of branch lines (V. 103, p.
1011), aggregating 17.82 miles; (3) a mortgage subject to existing $500,000
mortgage upon Western Maryland RR. Terminal, and, subject to a $115,000
mortgage upon the Baltimore Fidelity Warehouse and Hazard Wharf;
(4) a blanket mortgage, subject only to existing underlying mortgages,
amounting to $50,177,000, on lines acquired in the consolidation as well as
all extensions, Ac., hereafter constructed or acquired with the new bonds:
(a) Reserved for corporate purposes
—
$1,000,000
(1)
(b) For funding of underlying and divisional bonds
50,000,000
(c) Under restrictions for terminals and terminal facilities—„ 25,000.000
id) Under restrictions for new equip., extensions A lmprov'ts.. 67,500,000
The I.-S. C. Commission in Jan. 1921 authorized the company to issue
$2,700,000 First & Ref. 5% bonds to be pledged as security for a Govt, loan,
making a total of $11,697,000 of these bonds issued and pledged.
V. 112,
p. 259.
'
;
The 1st M. 4s of 1902 cover some 522 miles of road, subject
as to part,
to $1,281,500 underlying issues and also coal and coke properties which
In 1917 were taken over underlease or otherwise by the coal companies
mentioned.
Compare V. 103. p. 1700: V. 75, p. 550. 850; V. 79. p. 1024;
V. 79, p. 2692, and V. 81, p. 266; V. 80, p. 473, 1914; V. 81, p. 614; V. 83,
p. 273; V. 89, p. 666; V. 92, p. 120, 1437; V. 93, p. 1465.
The 7% equip, gold notes, pref. series, are followed by $1,500,000 notes
of a Junior series, which were taken by the U.S. Govt, and whljich will mature
serially at the rate of $100,000 per annum.
V. 112, p. 746.
For 5% 10-year serial equip, trust notes of 1917, see V. 103, p. 2239, 2343
V.
108, p. 270.
Equipment trusts issued to
Director-General for rolling stock allocated
to this company.
See article on page 3.
Government loan, V. Ill, p. 1371, 2230;
Federal
_
V. 112, p. 934.
compansation, $3,315,439 yearly.
,
^
_
Jan. 1 -Dec. 31
Jan. 1 -Mar. 31
1919.
$20,050,841 $14,610,409
def.426,198 def.504,718
REPORT.—Report for year end. Dec. 31 1919 in V. Ill, p. 1745:
.
Based on Federal Compensation—
19191918.
Federal compensation
$3 315 439. $3 315 439
Gross income
$3 468 810 $3 431 782
$71 991
Deduct—Rentals Ac
$72 238
2 393 258
Interest on funded debt
2 402 813
1921.
$4,697,208
446,363
EARNINGS.—
Gross
Net after taxes
1920.
1920.
$4,206,901
def.296,467
— --
Interest
on
Interest
on
equipment obligations
unfunded debt
276 349
9
248 733
■——
100 325
22 747
113 193
117 600
117 600
_$3 054 903
$2 881 954
$413 906
$549 828
182 261
207 301
Corporate expenses
Railway tax accruals
Total deductions from gross income
Net income.
Government contract fixed annual compensation at $291,143.
pany
1936
1936
1936
Jan
6 g
390,600
230,000
9.990.000
10,000.000
9,605,000
SEA SHORE RR.—(See Map Pennsylvania RR.)
the Pennsylvania system In Southern New Jersey,
Including Camden, opp. Philadelphia, to Atlantlo City (59 miles), Camden
to Cape May, 81 miles, Ao., total, 363.18 miles. V. 62, p. 366, 871. Of this.
Camden to Atlantlo City, with branch, total about 75 miles, Is equipped
electrically.
Operated as the "Atlantic Division" of the Pennsylvania
System.
Penn. RR. Jan. 1 1921 owned $6,793,250 stock.
WEST JERSEY
Owns all
A
4
46,633,000
220,000
X556.565
X570.462
xl.954,039
x566,545
1,500,000
1.300,000
48.500
72.800
690,000
240,000
115,000
50
27
576
4 g
As Collat
1902
1910
1915
1910
Potomac Val 1st M $2,000,000 g
Bait & Cumb Val Ry 1st mtge
A
49,426.098
17,742,100
9,999,000
100
Text
A
4
4 g
J.543,000
100
ew
100
616
text)_Eqc*Ar*
A
3Hg
n
3K A
do
RR
-
(p & d) stock 7% cum §18,000,000 auth
(p A d) stock 4% non-cum $10.000,000
847,000
1,814,000
679,000
968.000
49,994.500
Phils
do
do
1936
July
J July
J July
July
July
A
Station,
1920
Dec
A
Where Interest and
Dividends are Payable
1920 1H Broad St
do
3%
Oct
A
Places
and Maturity
Co
First Pref
2d Pref
11.586,250 See text
104,000
6
4 g
1.561.000
Dividend
Last
Miles
RAILROAD COMPANIES
[For abbreviations,
[VOL. 112.
STOCKS AND BONDS
prior to Jan. 1 1918
by U. S. Railroad Administration
Settlement of accounts
made
$342 527
and loss $231 645
Chairman, Lawrence Greer; Pres. A Gen. Mgr., M. O. Byers; V.-P.,
Traffic Dept., D. G. Gay; Sec. A Treas., L. F. Timmerman.
V, 112, p
Credit income balance transferred to profit
259,
564, 746, 934,
1026.
WESTERN N. Y. & PENNSYLVANIA
RY.—{See Map, Pennsyl¬
vania RR.)—Owns Buffalo to Emporium, Pa., 121 miles; Buffalo to Oil
City, Pa., 137 miles; Oil City to Oiean, 110 miles; Stoneboro to Mahoningtown, 37 miles; Hinsdale to Rochester, 98 miles; branches, including pro¬
prietary lines, 89 miles; total owned and operated under contracts, 592 miles,
trackage rights, 68 miles; total, Dec. 31 1919, 660 miles.
ORGANIZATION.—Reorganization Mar. 18 1895 (per plan in "Sup¬
plement" of Jan. 1895) of the Railroad, foreclosed Feb. 5 1895.
Penna. RR. owned on Dec. 31 1920 $19,439,001 of the $20,000,000
stock
of the 5% Income bonds and leases the road for 20 years
subject to termination on 60 days' notice.
V. 75, p.1255.
BONDS.—Abstract of 1st M. in V. 47, p. 109.
and $9,421,000
from Aug. 1 1903,
1919 in V. Ill, p. 685:
Federal
Other
Interest,
Compen.
Income. Rents, Ac.
ANNUAL REPORT.—Report for
Net after
Taxes.
Gross
Cal.
Years.
Earnings.
1919 .$17,815,353
1918
17,526,248
_
Balance,
Deficit.
def.$800,499 $1,156,106 $115,436 $2,382,202 $1,110,661
def.839,392 1,156,106.
42,121 2,131,215
932,988
—(V.l 11, p. 685.)
PACIFIC RR. CORPORATION.—A Delaware holding
all the stock of the Western Pacific RR. (of Cal.), which
railroad running from San Francisco to Salt Lake Citv,
via Oakland, Stockton, Sacramento, Marysville and Orovllle, Cal., a dis¬
tance of 930 miles (including San Francisco Bay ferry, 3 miles); Carbona to
Waldron, 11 m.; B. A L. Jet. to Loyalton, 16 m.; Grants to Tooele, 15 m.;
spurs, 9 m.; Reno to Reno Jet., 33 miles.
Total mileage Dec. 31 19191
1014 miles. Crosses the mountains at maximum grade of 1 %.
In October 1917 arrangements had been made to give financial assist
ance
to the following companies In the construction of their projected
lines which will serve as feeders for the Western Pacific, the latter receiving
In return for the Investment a considerable Interest in their capital stock:
(1) Indian Valley RR., Paxton Junction to Taylorsvllle and Engles Copper
Mine, Cal., 21 miles :(2) Deep Creek RR., Wendover, Utah, southerly Into
Gold Hill and Ferber Mining District, 46 miles; (3) in 1917 purchased
$1,137,968 of the capital stock of the Tidewater Southern Ry., an electric
railway, now 56 miles In length, extending from Stockton to beyond
Torlock (see "Electric Railway Section.")
WESTERN
company owning
In turn owns the
ORGANIZATION.—Both the holding company (The Western Pacific
incorp. in Delaware), and the operating company (The Western
RR. Corp.,
Pacific RR.. Co. incorp. in
Calif)., were formed in June 1916 per
reorganl-
MAY, 1921.]
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations, cfee.,
see
notes on
Date
page
Par
Bonds
6]
Value
Western Pacific RR Corp (holding co)—Com stock
Secured
participation (in Lor & W Va Ry)
sk fdequlp notes $843.700 call at
par,
Rate
When
Outstanding
%
Payable
Last Dividend
and
Places
Maturity
Where Interest and
Dividends
Payable
are
$100 $47,500,000
Pref stock 6% non-cum. red at 105 conv Into
com__
Western PacRR Co. (oper co) 1st M
callpar-xxc*&r
1916
100
100 &c
1919
1.000
27,500,000
19,885.500
3,000,000
100
11.882.600
100
941
Equipment gold notes Ser "A" due $300,000 s-a__
Wheeling and Lake Erie Ry—
Prior Lien 7% stock cum convert redeem.
Pref stock (a & d)
6% non-cum convert redeem
Common stock (further amounts for
conversion)
Ref mtge $50,000,000
gold callable 102HCe.yc*&r*
Six-year gold notes
CC1
Certlfs of
Amount
1
137
10.344,958
33.641,300
100
1916
1917
CCI
Us
1,000
1917
Equip trust ctfs Ser B due $462.000 yly call 102V4.C*
1917
Left Undisturbed (Issues closed by Ref M of 1916)
First mortgage Lake Erie Division gold
Ba.zc*
First M Wheel's Div $ & £ (2d on 187 m)
g__Ce.zc*
187
50
1,000
1886
1,000
1,000
1,000
1,000
1,000
260
Ce.zc*
Ba.xc*
Equip notes receivers due $101,000 semi-ann, call.x
Equipment gold notes due $305,800 annually
Q
Wheeling Terra—1st M $2,000,000 g s f gu p & Lxc*
White & Black Kiver Valley—1st M g int guar—F.xo
i
1888
1889
45|1
Exten and Imp t mtge ($1,900,000) gold
First Consol mortgage gold
$11,697.000
1899
1913
■
"lo
62
4H
4H
S Mar 1
A
'21,ij^%
Checks mailed
Equitable Trust Co, N Y
1946
Augl921-Feb'26
do
do
g M
&
&
Sept 1 1966
New
J
&
Jan 1 1923
Jan 1 1927
Jan
1 1923
N
5
A
&
Apr 1922 to '27
? g
&
Oct
J
&
July 1 1928
F
&
Feb
Sept 1 1949
Bankers Trust Co, N Y
Sept 21-Mar *23 City Sav A Tr Co, Gleve
To Jan 15 1935 Guaranty Trust
Co, N Y
Aug 1 1940
Winslow.Lauler&Oo.N Y
g J
A
5g
M
&
M
&
J
&
F
&
J
&
£g
404,000
4,587,000
1.483,000
600,000
1.000
Apr 1
&
&
.....
6,870.000
T.665
1900
1900
M
F
Quar
2,000,000
894,000
409.000
1920
Q—J
5 g
?
4,827,000
1,200,000
300,000
282,750
2,772,000
650
text
see
tli
5g
1 1926
York""'*"?*/ "?*"*
Y,~U SMtg"&
Tr
Co"
Bankers Trust Co. N Y
Central Un. Trust N Y
1 1930
do
June 30 1980
do
First National Bank. N Y
zation
plan of Western Pacific Ry. foreclosed.
Possession taken July 13
1916.
See plan, &c., V. 102, p. 155. 160, 2168,
2255; V. 103, p. 62. 240,
408; V. 104, p. 165. 258, 560.
V. 103, p. 2080.
In 1917 the Equitable Tr. Co. of N. Y., as
mortgage trustee, brought suit
against Denver & Rio Grande RR., as guarantor of the 1st M. bonds of the
old (foreclosed) Western Pacific Ry. (the
holding co. owning $47,437,500
of this $50,000,000 issue), and in Jan.
1918 obtained a judgment for $38,270,343.
V. 106, p. 1797.
The Judgment was followed by a receivership
for the D. & R. G.
& Rio Grande RR.
V. 106, p. 85, 192, 498; Y. 107. p. 503.
See Denver
-.A':
Interest
90% of these bonds being owned in the Interest of the
Pacific RR.
V. 107, p. 1102, 1187.
In June 1918 the
equity in the $10,000,000 stock of Utah Fuel Co.
owned by D. & R. G. (subject to collateral lien of
$15,080,000 Rio Grande
Western Ry. 1st Consol. 4s) was sold in partial satisfaction of above
judg¬
ment and was bid In for the Western Pacific RR.
Corp. for $4,000,000.
V. 106. p.2648.2759.
On Aug. 16 1920 a further distribution at the
rate.of $40 on each $1,000
was made.
The amount still remaining due on the
bond
that
V.
date, including
Ill, p. 693.
accrued
interest,
was
judgment as of
approximately $35,869,193.
I
The Denver & Rio Grande property was sold at
public auction on Nov. 20
1920 for $5,000,000 to John F. Bowie of New York,
representative of the
Western Pacific RR.
For litigation over sale,
&c., see Denver & Rio
Grande RR.
A Delaware charter
granted Nov. 15 1920 to the Denver & Rio Grande
Western RR. with an authorized capital of $150,000,000,
authorizing it to
own and operate railroads and
railways outside of Delaware.
The company
was formed for the purpose of
taking over the Denver & Rio Grande IIR.
Tentative olan for reorganization of Denver &
RioGrande, V. lilt P.1846.
Offer to acquire Denver & Rio Grande income bonds.
V. 112, p. 1618.
was
In Mar. 1921 acquired the stock and bonds of the
Sacramento Northern
RR.
V.
112,
FEDERAL
p.
564, 934,
1868.
COMPENSATION.—In
1918-19
U.'S. RR. Admlnls-
the
tration offered the company as rental
during
al compensation of only $1,986,580 (net),
Government control an annu¬
notwithstanding the recent ex¬
on
Balance,
1917.
$550,422
50,431
858.447
68,343
......
bonds
...
$675,781
__
32,993
1,650,000
*
$742,281
$793,269
(See divs. above.)
See under "Federal
115.234
*
surplus.
*
x
$52,391
1,036,684
74.644
376,036
1,213.248
95,353
76,745
283,479
Preferred dividends (6%)
Western
new
1918.
.
$52,169
Amortization of discounts, &c
Expenses prior to Jan. 1 1918.--.
Miscellaneous.
In Sept. 1918, having realized to date about
$7,771,395 on this judgment
the Trustee made distribution of $150
per bond or old Western Pacific Ry.,
over
1919.
Hire of equipment
Rentals
a
!;,•
Compensation" above.
Directors of Western Pacific RR.
Corp.
Alvin W. Krech, O. Ledyard
Blair, F.
Rhoades, F. W. M. Cutcheon, R. W.
A. O. Smith, all of New
York; David
San Francisco.
(the holding company).—Chairman •
H. Ecker, Starr J. Murphy. Lyman
Martin, R. B. Young, A. M. Hunt,
R. Forgan, Chicago; Geo. Whittell,
Officers of Operating Company.—Pres., Chas. M.
Levy; V.-P.. A. R.
Baldwin; Treas., Lyman Rhoades; Sec. & Asst. Treas., O. F. Craig.—
(V. 112, p. 259, 564, 934, 1400, 1618, 1868.)
WHEELING AND LAKE ERIE RAILWAY.—512 miles of road, viz.:
Lines owned—
Miles. I
Toledo, O., to Terminal Juno
Cleveland to Zanesville, O
Janton to Sherrodsvllle
Miles.
210| Various branohes owned
80
...1441 Trackage (C. C. O. & St. L.) Lin451
dale to Wellington
32
ORGANIZATION.—Incorporated In Ohio Dec. 12 1916 as successor of
old Wheeling & Lake Erie RR.,
per plan in V. 103, p. 1211, 1689.
in May 1917 Kubn, Loeb & Co. and Blair &
Co. sold rneir large holding
of prior lien stock, said to aggregate
$11,450,000, canylng control for five
years or more, to leading stocknolders In the Western
to include the Rockefellers, with a view to
served, V. 107,
Maryland supposed
through traffic.
Coal minei
p.
285.
pansion in earnings show
below, out of which sum would have to come
obligatory charges to a total of $1,300,000.
This offer,
subsequent offer of $2,322,000 were not accepted.
V. 108, p. 1074,
interest and other
and
a
2023.
The
co.
refused the six months extension of the Govt,
guaranty.
STOCK.—The
two
new
corporations have precisely similar capital
common and pref.. auth. and issued, the holding company
owning
outstanding shares of the operating company.
The pref. is conver¬
tible by holders. $ for $, Into common.
stocks,
all the
The stockholders on Nov. 18 1920 approved an increase in the
capital
stock from $75,000,000 to $100,000,000.
Of the total capital $40,000,000
is to be Preferred (par $100) and $60,000,000 Common
Com¬
(par $100).
pare
details in V. Ill,
DIVIDENDS.—In
p.
1918 the directors of
int. rate not to exceed 6%, for or against betterments, add'ns and extens.,
under safeguards, at not over $1,000 in bonds for $1,000 of
money actually
invested in additional physical property, subject to the new mortgage.
GENERAL FINANCES.—On Dec. 31
1918 there remained in the hands
of the mortgage trustee
$11,525,736 of the proceeds of the $20,000,000 1st
Mtge. bonds available for extensions, additions, &c.
V. 106, p. 1892.
-——Jan.
EARNINGS.—
_
1-Mar.Sl
1921.
Net after taxes—
Jan. l-Dec. 31
1920.
$2,706,194
65,665
—
1920.
1919.
$3,340,495 $15,981,502 $13,657,296
507,299
3,178,038
3,515,497
REPORT.—Of operating company for cal. year 1919 in V.
Ill, p.
Calendar Years—
•
Operating revenues
Operating expenses...
Taxes, &c.
1919.
...
1918.
1467.
1917.
...$13,657,296 $11,078,410 $9,898,483
9,545,286
7,893,879
6,190,055
596.514
602,735
Income from unfunded securities
381,462
Other income
164,962
0
com.,
$33,641,300;
pref.,
1919 into
stock, $ for $, with
com.
for first five years a
an
adjustment of divs
;
(d) To
majority of the directors, and thereafter
a
elect
majority
of the board, in case of failure to
pay the full div. on the Prior Lien stock
for five consecutive years; otherwise the three classes of stock shall have
Preferred 6% Stock, entitled to
492.493
over
the com.
$2,581,796 $3,215,936
1.900.350
'
354.877
142,043
$385,740
384,300
57,929
$2,446,775
$2,397,270 $4,043,905
non-cum.
divs. from Nov. 1 1916.
Pref.
stock both
legal, redeemable
time after Nov.
as to divs. and in
liquidation, and. so far as
after Nov. 1 1919 at $105, and convertible at
any
1919 into common stock, $ for $.
on or
1
BONDS.—New Refunding Mtge.
V. 104, p. 864, 1900; V. 103. p. 1211.
Purposes for Which the $50,000,000 Refunding Bonds
Were Made Issuable.
a) Issued
in
exchange for such
1st Consol. 4% bonds as
assented to plan; Gold, 4 Aa, callable on any int. date at 102
A-$4,827,000
b) All other Ref. M. bonds to bear not over 6% int., and to be
redeemable on any int. date, rate of int., int. dates and re¬
demption prices to be fixed at time of issue.
Reserved:
aa) To pay or refund the Lake Erie Div. bends, the Wheeling
Div. bonds and the Extensions
Improvements bonds..>.
3.303.000
ibb) An amount equal to the amount of First Consol. 4% bonds
not assenting to plan, reserved to
pay or refund the same...
0.873.000
(cc)
Under
restrictions
for
betterments,
extensions
and
new
Eroperties, to retire equip, oblig'ns of receiver of old
onds, and and to aid in refunding the above-mentioned
or
co...
35,000,000
Of the
Refunding mtge. 4Hs of 1916 there had been issued to Dec. 31
1920, $11,833,000; owned by company, $7,006,000; balance In hands of pub¬
lic. $4,827,000.
$5,90o,000
term
on
Of the $7,006,000 (Series "B" 5%) owned by the
company.
1920 were pledged to secure short-term and long-
Dec. 31
banks
and U. S. Government (the above four notes all
being renewed from time to time, present maturity being in Oct.
1921);
(e) $108,000 to secure $70,000 6% note to Director-General of Railroads.
Dec. 30 1918; J/) $268,000 to secure
$174,000, 6% note to Director-General
notes
to
of Railroads, Feb. 20 1919; (g) $1,216,000 to secure
Director-General of Railroads, Aug. 25 1919.
$790,000, 6% note to
I
Equipment trusts of 1917, V. 104, p. 1047; of 1902, see V. 103, p. 2429.
$300,000 non-transferable certificates of participation are payable
out of the earnings of the Lorain & West
Virginia Ry. Co.
All of the out¬
standing securities of the L. & W. Va. Ry., viz.: $1,999,300 stock and
$2,000,000 First Mtge. bonds of 1913 are owned, the stock being
pledged
under Ref. Mtge. of 1916, and the bonds as
security for the $1,200,000
5A% 6-year gold notes, dated Jan. 1 1917.
V. 104, p. 665.
The
loan, V. Ill,
p.
794, 1371, 2230; V. 112, p. 373.
Equipment trusts issued to Director-General for roliing stock allocated
to this company.
See article on page 3.
To obtain aid from National
Railway Service Corp. to purchase equipment.
V. Ill, p. 1662, 2230.
Jan. 1 -Mar. 31
EARNINGS.—
Gross
$11,882,600:
Stock, entitled to (a) cumulative divs. from Nov. 1 1910 *
payable quar.; (b) to priority over all other stock both as to divs. and
In liquidation, and also, so far as
legal, redeemable ou or after Nov. 1
1919 at $115 per share and divs.; (c) convertible at any time after Nov. 1
Government
Operating income
$3,515,496
xTentative Fed. compensation (stand.
return)
1,900,350
Hire of equipment
ome_
lien,
Prior Lien 7%
tne
hoiu.^s corpmt,.v,on
declared a dividend of 6% on the $27,500,000
outstanding 6% non-cumu¬
lative pref. stock, payable in installments of
IA% each on Feb. 20 1918 to
holders of record Feb. 15, April 1 to holders of
record Mar. 20, July 1 to
holders of record June 20, and Oct. 1 to holders of record Sept.
20; in Jan.
1919, IA%May 15 1919 paid only 1%, at same time protesting against
Federal treatment making the reduction in rate
necessary.
July 1 1919
to April 23 1920, 1% quar.; July 12 1920 to
April 1 1921, 1 A% quar.
The Western Pacific Railroad Co. of California (the
operating company)
on Dec. 28 1917 declared an initial div. of
134 % on its own $27,500,000 pref.
stock, payable in Dec. 1917 for the quarter ending Dec. 1916, and four
additional dividends for the year 1917, each
134%. payable on the pref.
stock, a total of 734%; April 1919 to Oct. 1919, incl., under Govern¬
ment control, paid only 1%
quarterly to parent company.
V. 108, p. 2032;
V. 106,p 192. 135: V. 108. p.1612,1723.
BONDS OF NEW OPERATING COMPANY —8ecured by a first
mtge.
on
the existing railway properties and all
property hereafter acquired.
Present Issue callable at par & Int. on any int. date. Trustees. First Federal
Trust Co., San Fran., and Henry E. Cooper.
Total auth. issue, $50,000,000, of which $20,000,000 (representing less than $21,600 per mile) was sold
in
1916. largely for improvements, new
rolling stock, extensions. &c,
Sinking fund beginning in 1919, $50,000 annually.
V. 104, p. 1593; V. 103.
p. 2157. 2080.
The remaining $30,000,000 1st M. bonds are reserved for future use. with
Gross
Prior
proportionately equal voting rights.
1846
Feb.
STOCK.—Issued:
$10,344,958.
..
Net after taxes
1921.
$2,864,238
def198.835
1920.
Jan.
1920.
l-Dec. 31
1919.
$3,304,101 $17,916,677 $12,600,839
def94,914
1,098,155
1,009,752
COMPANIES
[For abbreviations, cfee., see notes on page
6
Date
Par
Amount
Road
Bonds
Value
Outstanding
...
£1
profits
1918
stock £100,000
deb stock £794,802 red
Prior Lien debenture
Cons first mtge
Mortgage debentures
after 1920 (navigation; £273,440 red 105-
£10 Ac
£100
1901
£70,000
income debentures 6% £168,430 red
White River RR—1st M $250,000 autb gold
AB
Wichita Falls & North w—1st M g red 105—FC.xc&r
Pan Handle Div first coll lien tr M gold s I—FC.xc
First & Ref M $10,000,000 gold red 105-Usm.xo*
Wichita Falls St So—1st M $780,000 « gu s f — .FC.xo*
Wichita Northwestern RR—1st M g call
Wlch tin Term Ry—1st M g gu red 108*4 beg '2l_Ce*
Wild wood and Delaware Bay Short Line RR—1st M
Wilkes-Barre &
1903
1909
378
1911
1.000
52
1908
1
80
1916
9.11
4.2
$120,000 autb
kv
g-FP.xc'
Coast
Williamsport & Nor Br—First M $750.000
Wilmington Columbia & Augusta—See Atlantic
Willmar & Sioux Falls—See Great Northern
Northern—1st M call 1907 lnt gu —«xr
$1,000.000 gold p A i guar (end) — PeP.xr
Debenture bond
Line RR
_.SBa
Winona Bridge—1st M ext 1935gold s f red at par.Fa
Winston-SaieniSouthbound—IstM g gU — Us.xc'&r*
Winaton-Salem Union Station Co—1st M g call.c*
Wisconsin Cent Ry—
Common stock $17,500,000—
-Usjrc*
subj to call at 105-Usx
Sup A Dul Dlv A Term M $7,500,000 g (text) Us.xo*
First and Ref Mg ($60,000,000au) int gu Em.xc'Ar
'12zc*
2,800,000
550 & c
479,000
500
500,000
500,000
120.000
1,000
545.000
500
354.000
5
-
462.000
61.500
5 g
5
2.4
1890
89
1910
1916
33
160
.
1901
1906
1909
104
A
78
1,000
200.000
1906
1
rwo
3 oon.ooo
1920 See
in
J
4 g
text Apr
A
J July
follows:
as
WICHITA
$1,005,590
85,100
1,011,345
$1,113,895
Banes;
p.
Fails Ry., Henrietta,
owned by W. F.
Missouri
The Mo.
V. 96, p. 790;
98. p. 999.
E. Schaff, receiver of the Missouri Kansas A Texas Ry.,
appointed receiver, the company not having been able, under
operation, to earn fixed charges.
The receivership does not include the
subsidiary Wichita Falls Ry. nor the allied Wichita Falls A Southern.
V. 104, p. 2344, 2453.
"Standard return," Ac.—See page 5.
In June 1917 O.
independ¬
ent
Kan. A Texas, par $100.
1909, V. 88, p. 1439.
Pa
ndle Dlv. coll)
Wich. F. A So. bonds ($729,000 outstanding)
Ry.and W. F. A N. W. V. 88, p. 687 884. 9 H.
gold 5s ($10,000,000 aufh. issue), $3,601,000
of which $519,000 is owned by the M. K. A T.
pledged with M; K. A T. Ry. for advances made.
V. 93,
guar. p. A I. by Wich. Falls
Of the 1st & Refunding
issued on Dec. 31 1918,
Ry.. $82,000
Receiver's certificates
authorized, V. 112, p. 1743.
FALLS & SOUTHERN RY.—See Wichita
Ry. above, and V. Ill, p. 2230; V. 112, p. 1145.
WICHITA
Northern
Falls A North¬
NORTHWESTERN RR.—A reorganization of the Anthony
Road completed in 1917 from Trousdale, Kan., to
RR.
Vaughn, 47 miles, and Pratt via
Leavenworth A Topeka RR.
Compare
$860,000, and
Trousdale to Kinsley, 53 miles.
Capital stock,
preferred, $830,000.
Bonds callable for
103.
In Dec. 1919 applied to the Kansas
common,
in Dec'20
RY —Owns railway term, at Wich¬
station with elevated track approaches of
TERMINAL
UNION
WILKES-BARRE
Owns from
Pres., F. C. Fox.
gold bends, V. 1011 p. 1629.
first 5 years at 105; thereafter
P. U. Commission for permission
&
SCRANTON RY.—(See Map Reading
Jet., Pa,, 4.27 m.,of
which
Scranton to Mlnooka
Leased from May 1 1888 to Lehigh Coal A
lolds all the stock) during corporate existence, less one
per annum and taxes.
Lease assigned to Central of N. J.
•oad
($1,141,676) and taxes.
iouble track.
System.)—
1.38 miles
Nav. Co twhlob
year, at $47,500
at 6% on cost of
Pa., 11.04
of shares,
WILLIAM'S VALLEY RR.—Williams Valley Jet. to Lykens,
Stock authorized, $120,000; outstanding, $89,900; par
miles.
Co. obtained control.
V. 84, p. 933.
WILLIAMSPORT & NO.
BRANCH RR.—Hall's to Satterfield, Pa.
and branch, 46 miles; leases Eagle's Mere RR., 10 miles; total, 50 miles.
Under foreclosure of mortgage, holders of $510,000 bonds in March 1921
bought in the railroad property at the upset price of $25,000 fixed by the
court.
Holders of $5,000 bnods did not join in the purchase.
Iu April 1907 the Reading
$50.
Stock
(authorized. $2,000,000), common,
$923,950; preferred, $400,000
by
3,000
$50.
In Sept. 1909 $150,250 preferred stock was purohased
new
parties.
V. 89, p. 780.
The 4*4s of 1901 cover the road and
acres
A coal lands In Sullivan County, Pa., $250,000 being reserved for extensions,
V. 72, p. 990. 1280.
par,
$120,453; net, $2,584; int., rentals.
gross, $125,420; net, $28,898;
Sec. A Treas., F. W. Corcoraa.
For year ending Dec. 31 1918, gross,
Ac., $37,334; bal., def.. $34,750.
In 1917,
bal., def., $935.
Pres.,
Office, Hughesville, Pa.—(V.
;
112, p. 1026.)
& NORTHERN RR.— (See Mam Reading System.)—
Owns
Wilmington, Del., to Highs Farm. Pa., 90-44 miles; total track,
146.24 ui. Leased to the Phila. A Read. Ry. for 999 years from Feb. 1 1900
for Int. on bonds and 3H% div. on stock, payable quar. 'Q.-F. 16)
organization taxes.
V. 80, p. 1858; V. 102, p 1812. Supreme
decision, V. 110, p. 1816.
WILMINGTON
and
Court
WILMINGTON RY. BRIDGE—Owns Hilton to Navassa, N. C.. 2.4
Stock,
$40,000, owned by Seaboard Air Line Ry. and Atlantlo
Line RR., wblob lolntly guarantee the $217,000 bonds—see table
above.
Pres., Geo. B. Elliott. Wilmington, N. C.; Sec. and Treas., R. L.
Nutt, 24 Broad St., New York.
miles.
Doast
WINONA
BRIDGE RAILWAY—See page
140.
R Y - Owns Winston-Salem, N. O.
on Norfolk A Western, to Wadesboro oti Atlantic Coast
Line RR . 88 miles.
Under trust agreement (V. 106, p. 1239), said two roads own the $1,245.000
stock and. jointly and severally, guarantee the $5,000,000 bonds, prin. A
int.
See form, V. 92, p. 396; V. 105, p. 2367.
Report for 1919: Federal
compensation, $256,193 yearly during Fed'l control (contract executed); oth.
inc., $18,614; war taxes, $12,000; int., Ac., charges, $228,062; bal., sur., $34,
745. In 1917 (V. 106, p. 2451), gross, $898,302; net, $379,036: oth. income,
$30,737; charges, $339,981; bal., sur., $69,792.
Valuation report, V. 107,
p. 1194- V. 108, p. 2124, 2434.
Pres., H. E. Fries, Winston-Salem, N. O.
Wilmington, N. C.—(V. 108, p. 2434.).
SOUTHBOUND
WINSTON-SALEM
WINSTON-SALEM (N. C.) UNION STATION CO.—The bonds are
the union passenger station at Winston-Salem, N. C., and
parcel of land (.84 of an acre) upon which the station is erected.
The
Norfolk A Western Ry. Co., Southern Ry. Co. and Winston-Salem South¬
bound Ry. Co. own the capital stock, unconditionally guarantee the bonds,
jointly and severally, both prin. A int., by endorsement on each, and have
contracted to use the terminal throughout the life of these bonds, paying
as rental an amount equal to the cost of operation and int. on the bonds.
Bond issue (limited to $250,000) is callable at 107H & int. after Oct. 1930.
V. 103, p. 944.
Inc. in No. Caro. Dec. 16 1915.
Pres., H. E. Fries.—
(V. 103, p. 240.)
a
first lien upon
the
co
and committees for Wichita Falls A Southern
and Wichita Falls A N. W. 5s. see Missouri Kansas A Texas Ry.
Income account year ended Dec. 31 1919: Gross, $2,308,770; net, def.,
$406,059; other income, $45,695; int. A rentals, $342,975; bal., def.,$703,339
For 1920, gross, $2,609,813; net after taxes, def., $88,005; net after rents,
def., $390,343.
'
Pres., C. E. Schaff; Sec., E. W. Peabody; Treas., A. W. Eickenberger.
—(V. 112, p. 1743.)
As to interest payments
WICHITA
july '20 coup pd
RR.—Road
Wildwood
$378,000;
par, $50.
Bonds auth., $562,500 1st gold 5s; issued, $479,000.
Broad¬
way Trust Co., Camden, N. J., trustes; see table above.
Pres., L. R.
Baker; Treas., W. F. Short; Sec., O. I. Blackweli.
Office, Wildwood, N. J.
Office, Rochester, Vt.
BONDS, Ac.—1st 5s of
of '10, V. 90, p. 700.
Tennille, Ga
1 1936
WILDWOOD AND DELAWARE BAY SHORT LINE
connects with Atlantic City RR. (Phila. A Reading System) at
Junction, 4.2 miles from Wildwood.
Stock. $503,003; i?*ued
WICHITA FALLS & NORTHWESTERN RY.—Company owns Irom
Henrietta, Tex., to Forgan, Okla., 321 miles, and from Altus, Okia., to
vSTOCK.—$2,000,000, all owned by the Mo
11958
Kan., including a passenger
300,000 30-year 4H%
—(V. 101. p. 1629.)
W. Washington Sq..
was
Jan
inoludlng a 4-track main line, to be used by the Atchison
Ohio. R. I. A Pac., St. Louis A San Francisco and Kan. City Mex. A Orient
These 4 roads own the stock and guarantee Jointlv and
severally the $2,
V. 73. p. 443; V.
99 years.
York
about 2 miles,
RIVER VALLEY
Texas leased the system for
New
Bank of Montreal
issue $7,500,000 in
ita,
Wellington. Tex., 57 m.
This includes the Wichita
Tex., to Wichita Falls, 18 miles, all of whose securities are
A N. W. Ry.
Wichita Falls A Southern Ry., controlled by the
Kenras A Texas owns from Wichita Falls to Newcastle. 52 m.
1 1921 2%
1 1949
Jljan
g
N V
NY,Cha8eNafcB,orWln-9
1 1966
May 1 1951
M
A
N May 1 1936
A
A
O Apr 1 1959
Various To June 1 1930
5 g
5
United States Tr Co,
MAN
\ g
4 g
Ball
Blvd. Chi
547 W Jackson
J Jul 7 1 1960
O Apr
Co,
A Tr
Deo
Sate
securities for the purchase of railroad property and
for railroad construction.
Compare V. 109. p. 2173.
Foreclosure pro¬
ceedings, V. 112, p. 1400.
Govt, loan, V. 112, p. 2192.
In 1920, gross,
$105,673; deficit, after taxes, $43,623; other income, $35,303; interest, Ac.,
$33,407; bal., def., $41,227.
Pres., O. P. Byers; Sec., T. A. Fry.—(V.
112, p. 1400, 2192.)
to
2521.)
WHITE RIVER RR.—Owns Rochester to Bethel, Vt., 20 miles
Stock, $250,000; par, $100.
Bonds ($250,000 auth issue), see table
above.
Year ended Dec. 31 1920: Gross, $84,715; net oper. income,
$20,209; bond interest, $12,500; rentals, &c.f $16,015; bal., def., $8,306.
Year ended Dec. 31 1919: Gross, $67,204; net, $15,617; interest on bonds,
$12,500; taxes, rentals, Ac., $3,393; bal., def., $276.
Pres., Cbauncey D.
A
A
A
4 g
5.816.000
945,771 4H. 5,
75, p. 1300.
REORGANIZATION.—In 1918 the security holders formally approved
with some amendments, plan outlined in
V. 107, p. 605, 2099, 2478.
Interest due Jan. 1 1915 and subsequently was paid In scrip or defaulted.
In order to raise £95,000 (£52,000 for working capital, and about £38,000
tn pay off loans, and £5,000 for commissions, Ac.), it was arranged under
the plan to issue £100,000 7% Prior Lien debenture stock.
For year ending June 30 1918, total income, £53,982; charges, £65,931
western
J
Phila
do
do
Reading Company
Owned by
5g
7.500.000
Ark., to Gregory, 6 m.;
tr. 5s
Reading Terminal,
1 1932
4 g
1907
V.-P. & Gen. Mgr., S.
deficit. £11,947, against £26.182 for 1916-17.
Pres. of local (subsidiary) cos., F. O. Elliott, 111
Chicago.—(V. 107, p. 503, 605, 2099, 2478; V. Ill,
City (Pa) Nat Bfc
Trust Co, Phil*
Fidelity
\
A
O Apr 1 1943
MAS Sept 1 1935
1.000
$ & £
RR.—Brlnkley to Jaiksonport,
total, 62 miles. Leased for
Oklahoma A Gulf RR. (now Chie.
endorsed on bonds. Stock auth.,
$1,875,000; paid In. $323,000.—(V. 90, p. 504.)
WHITE PASS & YUKON RY —Owns a narrow-gnuse line Ml miles In
length, extending from Skaguau, Alaska, to White Horse with branch to
White Horse copper mines. 12 miles (V. 69, p. 335; V. 67, p. 1162, 1138);
also operated steamers between White Horse and Dawson City and Caribou
A Texas Ry. of
Tower
1 1927
Aug
J
A
5
11.265.600 4
22,477,000
342,000
1.000
1.000
80 years from July 1 1900 to Choctaw
R. I. A Pac. Ry.) for guaranty of Int.,
873.
D Dec
A
Quar
eg
11-'1
$177,6531 Rentals, Ac
net,
do
do
MAN May 1 1938
A
D Dec 1 1923
A
J July 1 1931
J
5
16,121,000
100
1899
$13,598;interest,rentals
Church
p.
%g
250,000
and 1913. 1916
1919, Gov't compensation,
was
1941
Bway Tr Co, Camden, N J
TAD June 1 1940
Chestnut
St, PhU
Dec 31 1920 5% 437
Deo 31
5,000.000
Wheeling,
STOCK.—$2,000,000, all
of boada
Boston, Mass.
Jan
1931
Nov
MAN
224,000
1,000
1.000 Ac
1,000
100
WHEELING TERMINAL RY.—Owns a railway bridge at
W.
Va.f and 10 miles of terminal track.
owned by Pennsylvania Company, wbloh guarantees prln. and int.
of whioh $400,000 are reserved for add'ns and lmorov'ts;
mtge. trustees
Commercial Tr. Co. of Phiia.
V. 98, p. 612, 1769. Form of guaranty.
V. 76, p. 655.
Dirs. 2% paid in 1906, 1907, 1911, 1912
2%: 1917, 3%; 1918-102$, nil.
For the year
$113,151; inceaae freat investments, rentals, Ac.,
Ac.. $80,507; war taxes, $2,$16; bal., sur., $43,426.
Sec., 8. H.
—(V. $8, p. 612, 1760.)
P' WHITE & BLACK
Ark., 56 miles; Wiville,
1918 int last paid
1918 int. last paid
Jan 1917 coup last paid
Jan 1919
paid June
19
Com'ce Tr Co, K O, Mi
Win A Head A Co. N Y
1938
MAN Nov
217,000
1893
1.03
Sec., C. E. Babl; Treas., J. G. Stidger.
DIRECTORS.—Term expiring Oct. 1923; H. E. Cooper, Thomas S.
Grasselli, E. A. Langenbach, E. A. Petrequin, George A. Coulton.
Term
expiring Oct. 1922:
W. M. Duncan, Otto Miller, A. W. Callaway,
Frederick H. Ecker, N. Si Meld rum.
Term expiring Oct. 1921: Warren
Bicknell, Bertram Cutler, J. A. House, Walter S. Bowler, L. F. Loree.—
(V. 112, p. 373. 1868. 2192.)
^
:
1
V.
Jan
J
1887
1892
$1,590,430; other income,
deductions, $121,619; bal..
(incl. Fed.
$2,934,122; bal., def., $60,461.
W. M. Duncan;
OFFICERS.—Pres.,
Kan
Jan
J
1.000
1.000
K5g
Co, Boston
O D Parker &
Jan
1925
1940
4H g J
Balance, surplus for year
Parker,
Jan
A
1.000
V.-P., H. W. McMas:er;
and Atlin.
Jan
&
Ig
350,000
EARNINGS.—For calendar year 1917, In V. 107, p. 285:
Gross earnings
$11,028,9041 Int. on funded debt
Net (after taxes)
$3,038,277 Other interest
Other income
See text
RR
90)
$3.000.000 gold a f.xc*
deductions,
See text
1933
1939
aii
A
Ac
RESULTS.—For 1919, based on Federal compensation, were
Standard return, $1,586,037; net, after taxes,
$101,290; Interest, $1,173,465; rents and other
Stir1
S306 630
For 1920: Gross, $17,952,257; net, $1,834,468; total income
comp.), $2,873,661;
1 1935
31 1930
1 1930
A
5 g
See text
I
&
5 g
5 g
various dates
& Pacific—See
Valley—First mtge
Dividends are Payable
Redeemable
729.000
1888
1903
1901
90
— —
Wise Minn
Cbic Great West Ry
Worcester Nashua & Rochester—See Boston A Maine
Wrightsv & Tennille—1st M s f g red 102 *4 beg
Yosemite Short Line Ry—See Sierra Ry of California
Yesemite
J Jan
50
12,500,000 autb
First General mortgage
Marsh & S E Dlv 1st M gold
Car trusts
J Dec
&
-000
500
Where Interest and
Places
Dividend
Maturity
—
—
Wilmington & Weldon—See Atlantic Coast
Wilmington Ry Bridge—M guar Jointly
Pref stk 4% n-cS
A
J
1910
46
Line
Dec
J
1911
11
Wilmington &
Gen mtge
1910
4.27
4.27
Scranton—Stock 5% rental
gold guar p A 1 by L C A N Co—xxx
First mortgage
Williams Valley—First mtge
$1,000
1.000
1.000
20
and
Dec 1
£582.870
£273.385
£14.000
£168.430
$200,000
2.098,000
838.000
Secured notes 6%
154
57
Last
Jan 15 1913 1% Office 7 Moorgate St.Lon
$
(?)
1900
UU
%
£1,275,000
£10
White Pass & Yukon—Stock £1,700,000
"A" shares £10,000, pref rights to 80%
When
Payable
Rate
Miles
RAILROAD
[VOL. 112.
AND BONDS
RAILWAY STOCKS
138
WISCONSIN CENTRAL RAILWAY—SYSTEM
Ashland, Wis., and Lake Superior Iron mlues; also
extends from Chicago,
to St. Paul and Minne¬
and Dulutn.
By car ferry connects with the Pere
short line to the East. V. 63. p. 117. System include!
apolis and to Superior
Marquette and has a
Miles.
Trout Brook Jot.,' Wis.. 456
Lines owned—
Ohio, to
Spencer to Ashland, Wis
Owen to Superior
Branch
Stevens
Neenah
146
153
to Bessemer
34
Point to Portage City.. 71
to Manitowoc
36
Milm.
Lines owned—
Marsh field
Other
to
33
Nekoosa
91
branches
Trackage to Chlo.,
77
28
Minn.. Ac.
Rugby to Milwaukee, Ao
Total owned Jan
1 1920—-
I7l25
tore-
ORGANIZATION.—Successor July 1899 of Wisconsin Cent. Co
olosed per plan V. 68. p. 725; V. 69. p. 29. 133 V. 70, p. 434
In Jan. 1909
Minn. St. Paul A S. S. M. acquired 51 % of common stock and operates the
road as its "Chicago Division," the road being leased for 99 years from
M
April 1 1909, and most of the pref. stock exchanged for M. St. P. A 8. 9.
leased line certificates, secured by Wis. Cent. pref. stock, on which 4% dirt
are
paid. V. 88, p. 159, 232,
566, 626, 750, 1003, 1439, V.
89. p. 780.
MAT, 1921.]
STOCK.—Stock, authorized, common. $ 17,500,000; prel., 4%
non$12,500,000.
Outstanding, oom., $16,121,000; pref., $11,205,600;
of shares $100
After 4% dividends on both classes shall have been
paid In any year, both shall participate equally In any further dividend*
for such year.
The preferred has the right to elect a majority of the direc¬
tors on failure for two successive years to receive 4% per annum.
oum.
par
DIVIDENDS.—First dlv.
on
pref.
4% for the year, paid 1% Deo. 23
On June lfl
CALIFORNIA-WESTERN RR. & NAVIGATION CO.—Owns Ft. Bragg
Cal., to Wllllts, 50.60 miles.
Stock issued, $1,000,000; par, $100.
Divs.
jaid year 1909 2V*%: 1910. 7H%: 1911, 10%: 1912, 10%; 1913-14.none;
1916, 6%; 1917, 2>4%; 1918, 7^%Bonds are guaranteed p. & L, by
Union Lumber Co.
V. 99. p. 894, 1213; V. 100, p. 1436.
Year ending
Dec. 31 1919, gross, $287,170; net, $72,073: other income, $47,621; deduc¬
tions, $75,354; net income. $44,339.—(V. 100, p. 1436.)
.
CAMBRIA & INDIANA RR.—Oolver Heights to Manver, Pa., 21.8 m.;
to
Rexis,
Revloc, &c.t 34.72 m.; total, 56-52 miles.
Stock,
1908 and 1% each on Mch. 11 and July 15 and Oct. 15 1909.
tranches
1916, 2%; Oct. 1, 2%; 1911 to Apr. 1 1921 4% yearly.
1st Gen. gold 4s of
1899 are secured by a mtge. upon all
the lines of railway, terminals, equlpm't and other property acquired there
by, and also by deposit of all securities owned or acquired under the plan
Of the Generals, up to Dec. 31 '20. $3,004,000 were purchased In the opet
market and canceled. V. 75. p. 734, 1204; V. 77, p. 1236; V. 86, p. 159L
The Superior & Duluth Division dc Term. 4s are limited to $7,500,000
the present amount outstanding; they cover the road from Owen, Wis.
via Superior to Duluth, Minn., 160 miles, and terminals at both Superkn
and Duluth.
V. 82. p. 806, 930, 1103; V. 83. p. 986; V. 84, p. 1429; V
BONDS.—The
85,p. 532; V. 86. p. 1411; V. 88. p. 824.
Tne "First and Ref." mtge. Is limited to $60,000,000, of which
la reserved to refund existing bonds and equipment obligations
$6,000,000 have been sold.
824, 884; V. 89, p. 44, 1069; V. 94. p. 489; V. 98, p. 840.
P. & Sault Ste. Marie guarantees interest on the bonds.
$36,459,004
and the re
V. 88,
malnder for general purposes;
p.
687
The Minn. St
V. 95.
p.
GENERAL FINANCES.—The Wisconsin RR. Commission In May 1918
First & Ref. M. bonds ol
less than 75 to provide for
the retiring of First M. bonds of Marsnfleld & Southeastern Ry. and for
additional extensions and improvements.—V. 106, p. 2236.
REPORT.—Report for year ending Dec. 31 1920:
Operating revenue
Net earnings
$57,835
Standard return
2,303,724
163,979
Other income
1918.
1919.
Not
reported
$3,487,434
69,488
1917.
Not
reported
$13,814,211
$4,944,187
$3,424,338
24,443
Bonds, $900,000 authorized and issued; sinking fund, 2c. per
coal originating on the line; minimum, $16,000.
of 1st M. 5s of 1911, $900,000. of which on Dec. 31
1920 €900,000 had been issued, and of these $187,000 had been retired and
$75,000 had been pledged.
The 2-year Coll. Trust 6% notes issued Aug.
I 1919 to refund $500,000 2d M. notes matured, &c.—V. 109, p. 370.
Gen. Mtge. Bonds, 6£ Series "A," auth., $4,000,000; nominal date of
issue, Aug. 1 1919; date of maturity, Aug. 1 1944, of which the par value
outstanding as Dec. 31 1920 is $1,802,000, which bonds are nominally but
not actually issued.
Equipment trusts Dec. 311920, $27,000. Series "A" 5s, due annually to
Sept. 1 1921; $105,000 "B" 5s, due annually to Feb. 1 1927; $160,000 r4C"
5s, due annually to Feb. 1 1928; $216,000 Series "E" 5s, due part annually to
May 1 1929. and $968,000 "F" 43^s, due annually to Dec. 31 1931.
$2,000,000.
gross ton on
Authorized issue
EARNINGS.—For
969
authorized the company to sell about $1,890,000
the Issue of 1909 ($5,816,000 outstanding) at not
1920.
139
STOCKS AND BONDS
RAILWAY
calendar
year
1920:
Gross,
$959,212;
net,
def.,
$227,347; other income, $710,269; deductions, $220,574; surplus, $410,566.
In 1918 paid dividends of 33 1-3% stock on the common stock and 6% cash;
Pres. & Gen. Mgr., B. Dawson Coleman; Sec., L. G. Ball; Treas., Chas. O.
Krouse.
Office, Land Title Bldg., Philadelphia, Pa.—(V. 109, p. 370.)
CENTRAL RY. OF CANADA.—See issue of Nov. 2 1018.
CHICAGO MILWAUKEE & OARY RY.—In operation from Rockford, 111., to Delmar, 129.51 miles, including Elgin Joliet & Eastern trackage
between Aurora and Joliet, 22 miles. V. 88, p. 685.
The bonds and stock pledged to secure outstanding notes were bid at In.
1915 by St. Louis Union Trust Co. for the noteholders.
V. 101, p.
1369, 1092; V. 86, p. 980; V. 88, p. 685.
Equip, trusts, $74,420.
Year
1916, gross, $455,833; net, after taxes. $36,244; other income,
$2,391; int. on bonds, $289,900; charges, $78,820; bal., def., $330,105.
For
1917, gross, $571,688; net def., after taxes, $16,166.
Pres., Albert T.
Perkins, care St. Louis Union Trust Co., St. Louis.—(V. 107, p. 694.)
Oct.
77,637
ended Dec. 31
Total income
$2,525,538
2,197,580
Interest, taxes, &c
$3,556,922
2,038,286
$3,448,781
2,403,750
$5,021,950
3,339,941
Balance, surplus.....
$327,958
$1,518,636
$1,045,031
$1,682,009
on preferred.
$450,624
$450,624
$450,624
$450,612
paid out of accumulated surplus, but substantially paid dur¬
ing respective years shown—see V. 93, p. 792.
Dividends
Dividends
OFFICERS.—Pres., E. Pennington; V.-P., G. R. Huntington; Comp.,
C. W. Gardner; Sec., G. W. Webster; Treas., H. N. Paist.—(V. 108, p.
2524.)
WISCONSIN & MICHIGAN RR.—Operates from Faithorn June..
Mich., to Menominee, Mich., 49.8 miles.
Successor, after foreclosure
sale, of the Wisconsin & Michigan Ry. Co., acquiring or at least operating
only the portion of the road above mentioned.
The I.-S. C. Commission
in Dec. 1920 authorized the company to rebuild 7.17 miles of road between
Fairhorn Jet. and Aragon Jet., Mich., and to resume operation of
13.8
miles of road in Dickinson County, Mich.
V. Ill, p. 2522.
Pres., John Marsch, Chicago; V.-Pres., W. H. Wright, Menominee, Mich,
Treas., Nicolas Marsch, Chicago; Sec., Harry Goldman, Marinette, Wis.
Office, Menominee, Mich.—(V. Ill, p. 2522.)
(THE) COLORADO WYOMINO & EASTERN RY,—Owns from the
Union Pacific RR. at Laramie, Wyo., to Coalmont, Colo., 111.35 miles.
Incorp.
in Wyoming June 2
1914.
Successor June 4 1914 of Laramie,
s Peak & Pacific Ry., foreclosed per plan V. 98, p. 453,1766,1845.
Henry Sanderson and Trowbridge Callaway, as voting trustees will hold
the new stock until all accrued interest on the income bonds shall have been
Hahn
paid and the current interest paid regularly for two consecutive years and
period not exceeding one year as the trustees in their disccretion may deem advisable, if lawful.
Stock, common, $2,300,000; pref.,
6%_ non-cumulative, $2,000,000, par $100.
For cal. year 1920: Gross, $232,256; net, $31,224; other income, $3,489;
interest, rentals, &c.t $168,795; balance, deficit, $134,082.
for such further
DEATH VALLEY RR.—Owns line in Inyo County, Cal., to the Biddy
McCarthy borax mine, &c., 21 miles.
Bonds (all or part) guaranteed by
theSBorax Consol.. Ltd.
For the year 1919 gross earnings were $76-861;
vet Income, def., $581.—(V. 112, p. 1232.)
ORAND
TRUNK WESTERN RY.—Owns from Port Huron, Mich.,
Chicago, 331 m.; leases Chic. Kalamazoo &
Saginaw, 9.57 m.; Chic. & Kalamazoo Terminal, 1.73 m.; trackage Chic. &
West. Ind., 5 m.: total, 347 m.
Stock, $6,000,000, all owned by Grand
Trunk. Y. 69, p. 954: V. 71.p. 22. Allied line,Pont Ox.& Nor., 100m.
to Chic. & West. Ind. RR., at
YOSEMITE VALLEY RR.—See page 140.
RAILROAD
Equipment trusts issued to Director-General for rolling stock allocated
See article on page 3.
.
COMPANIES.
to this company.
the 1st 4s.
AKRON & BARBERTON BELT RR.—Belt line at Barberton, O.. and
Faiviawa to Akron, O ; total,22.93 m.
Stock, $100,000, owned equally
by the Cleveland Akron & Cincinnati, Bait. & Ohio, Erie RR. andNorthern
Ohio Ry.
Bonds auth.. $1,500,000: Issued, $1,240,000; $291,000 redeemed
by linking fund; $230,000 for future needs.
Results for 1919; Annual Govt,
companiation. $30,104; other income, $20,374.—(V 105, p. 71.)
AKRON CANTON & YOUNGSTOWN RY—18^ m. nom Akron to
Mogadore completed in 1914.
Stock, all issued, $1,500,000.
V. 92, p.
1434; V. 95, p. 678.
In Jan. 1920 obtained control of the Northern Ohio
RR. under a 999-year lease from the Lake Erie & Western RR.
V. 110,
p. 560.
Year ending Dec. 31 1919, gross, $721,204; net, after taxes, $343,201; int. and rentals, $98,809; bal., sur., $244,402.
Co-operative contract
signed in May 1919.
Pres., H. B. Stewart, Canton, O.; Sec., Jay Taylor.
—(V. 95. p. 678; V. 108, p. 2240; V. 110, p. 560; V. Ill, p. 1182.)
AMADOR CENTRAL RR.—lone to Martell, Cal.. 12 m. Stock, $400,000,
$100.
Mortgage, see V. 88, p. 156.
Year ending Dec. 31 1920, gross,
$70,758; net, after taxes, def., $4,831; bal. after int., rentals, &c., def.
$17,210.
Dividends 1911-12, 6 2-3%, $25,000 from accumulated surplus,
1918 and 1919, 1% each year.
Pres., Meta J. Erickson, San Francisco.—
(V. 88, p. 156.)
The Incomes were called for payment on Deo.
then due.
V. 90, p. 1239.
Jointly with Toledo St. Louis & West»
guarantees Det.& Toledo Shore Line bonds.
V.76, p. 653; V. 89, p. 1411.
Of the bonds of 1912, $7,662,000 4s, due Sept. 1 1962, were purchased
by the Grand Trunk Ry.
The latter guarantees principal and interest;
$15,000,000 to be held to retire the first at maturity. V. 92, p. 795, 1108,
1242, 1436; V. 93, p. 1323; V. 97. p. 237.
V. Ill, p. 2228.
any int.
GREENVILLE & NORTHERN RY.—Organized in Jan. 1920 to take
and operate the Greenville & Western Ry. (see below).
Pres., W. H
Cook; V.-P., A. N. Holohan, Duluth, Minn.; Sec., L. Carlson, Greenville,
8. O.—(V. 110, p. 764, 359.
over
GREENVILLE & WESTERN RR—Owns Greenville, S. O., to Riverview, 23 miles.
V. 99, p. 406.
Road was taken over and operated in Jan.
1920 by the Greenville & Northern Ry., which was organized for the pur-
Sose. Stock, $50,000;BL. Lewis, all Bonds, see table above. Pres., R. A.
par $100. of Atlanta. Ga.—(V. 110, p. 359.)
IcTyer; Treas., Carl
QUANTANAMO & WESTERN RR.—Owns from Boqueron at Granadlllo
par,
1
the Interest on
1 1910 at 85 and
BONDS.—The Grand Trunk unconditionally guarantees
SUPPLEMENTARY.
Bay on south coast of Cuba, via San Justo and La Maya to San Luis, with
branches to various sugar mills; total mileage, incl. sidings and yards, 108.42
miles.
Incorp. In Maine.
A reorganization after foreclosure Mar. 1 1910,
plan In V. 88, p. 294.
Control acquired In Aug. 1916 by Cuban bank¬
V. 103. p. 758; V. 93. p. 1725.
Stock authorized and Issued, common, $2,750,000; 1st pref. 7% non-oum.,
$2,750,000, and 2d pref. 5% non-cum., $250,000 (in treasury $232,360r
$233,650 and $153,050 respectively); par of all shares, $100 each.
Equip¬
ment trust notes, June 30 1920, $182,000; notes payable June 30 1920,
$275,000.
,
The Refunding Mtge. for $6,000,000 was executed Feb. 1 1918 and sub"
per
ers.
ATLANTIC QUEBEC & WESTERN RY— Paspeblac to Gaspe. Que¬
bec, 102H miles; trackage, 1
m.
Stock $2,000,000 in $100 ■hares.
The interest due July 1 1917on 1st M. 5% debenture bonds was not paid,
and the bondholders agreed to forego all interest during the war except
in so far as earned.
See V. 105, p. 1616, 2007; V. 91, p. 1253.
Unpaid
interest, V 109, p. 1985; V. Ill, p. 2422.
A 5% Second Mtge. Debenture
amounting to $2,050,000, dated June 30 1919, due Jan. 1940, filed Sept. 30
1919.
V. 109, p. 1460.
Chairman & Pres., Earl of Ranfurly, London,
Eng.—(V. 109, p. 1985; V. Ill, p. 2422.)
BIRMINGHAM & ATLANTIC RR.—Talladega to Pell City, Ala., 22
branches, Rogans to ore beds, 9 miles, and Furnace to Welsingers,
3 miles.
Stock, $500,000, all common; par of shares, $100.
Bonds,
9500,000 40-year 1st 6s. due Nov. 1 1931 ($1,000 each); int„ payable
M. & N., in default.
Operations discontinued.
Pres., Sidney H. March;
Sec. & Treas., W. J. Kingsbury, 41 Broad St., N. Y —(V. 69, p. 77.)
miles:
RR.—Operates Boyne City to
Alpena, Mich., with branches, a total of 109 miles, forming a cross-State
line from Lake Michigan to Lake Huron.
Capital stock, authorized,
$1,000,000; outstanding, $669,300.
An issue of $800,000 1st M. 20-year
5s was sold in 1917, also $47,000 note maturing part yearly July 1 1918 to
BOYNE CITY GAYLORD & ALPENA
In April 1919 the road had been taken out of hands of receiver,
and the interest due Jan. 1 1918 to Jan. 1 1919, incl., on the 1st mtge.
1922, incl.
bonds had been paid.
p.
See V. 105, p. 1616, 2183; V. 110, p,
969.—(V. 112,
743.)
BROWNSVILLE & MATAMOROS BRIDGE CO.—Owns international
bridge over the Rio Grande River between Brownsville, Tex., and
Matamoros, Mex., connecting St. Louis Brownsville & Mexico Ry. (New
Orleans Texas & Mexico) and National Rys. of Mexico.
Stock, $650,000,
one-half (except directors' shares) owned by each of said companies, which
jointly guarantee both classes of bonds.
1st M., $333,000 auth.
Year
ended Dec. 31 1919, gross, $37,253; net, $30,272; other income, def., $397;
interest, $20,250; taxes, &c., $7,793; bal., sur., $1,832.
See National Rys.,
V. 94. p. 277.
oteel
BUTTE ANACONDA & PACIFIC RY.—Owns Butte to Anaconda.
Mont., and west to Southern Cross, 47 rhiles; spurs, 37 m.; 2d track, 2 m.;
sidings, 65 m ; total, 151 m.; also leases Stuart to Anaconda, 9 m.; sidings, 5
m.; total, 165 miles, of which 122 miles operated electrically.
V. 97, p.
1114; V. 96, p. 135.
Stock, $2,500,000, of which Anaconda Copper Co.
owns 51% ana Chic. Milw. & St. Paul Iiy. 49%.
Dividends: 1910 and
1911, 6%; 1912. 3% and 150% in stock; 1914. 4H%; 1915. 6%: 1916. 1917
and 1918, 12%; 1919, 6%; 1920, none.
Bonds ($5,000,000 auth. issue), of
which $3,000,000 have been sold, are guar. prin. and int. by Anaconda
Copper Mining Co.
V. 98, p. 837.
For year ending Dec. 31 1920, gross,
$1,542,675; net, $179,962; charges, $153,357; bal., $26,605—(V. 101, p.
1884.)
CALGARY & EDMONTON RY.—Owns Calgary Jet., Canada, to Ed¬
monton, Canada, 192.8 miles, and to Fort McLeod, Canada, 107
taskiwln to Hardlsty, 100.2 m.; Lacombe to Kerrobert, 223.1
623.4 miles.
V. 93. p. 1785; V. 94, p. 910.
In 1903 re-leased to Canadian Pacific (which owns entire
miles; Wem.; total,
$1,000,000 stock
and $5,900,000 1st M. 4% bonds) for 99 years; debenture stock
is guaranteed at 4%.
In 2002 the bonds will be paid or a further
tered Into.
V, 76. p. 434; V. 77, p. 1224; V.
80.
p.
interest
lease en¬
116.—(V. 94. p. 910.)
sequent to June 30 1920, $3,187,000 6% bonds were issued, of which $416,500 were held in the treasury and $2,771,500 outstanding; and a further
$600,000 was expected to be issued by June 30 1921.
EARNINGS.—For year
ending June 30 1920: Gross, $1,188,511; net,
$283,590; deductions, $256,626; surplus, $26,965.
OFFICERS.—Gabriel
Juve, Pres. & Treas.; Anthony Andujar,
N. Y. office, 27-29 Pearl St.—(V. 103, p.
Pres.; J. Cortada, Sec.
1592; V. 105, p. 2179; V. 107, p. 2470.)
Vice1508,
HAMPDEN
RAILROAD
CORPORATION.—Owns
Springfield to
Bondsville, Mass., 14.82 miles; completed, but in May 1921 not yet oper¬
The Mass. State Senate in Feb. 1921 passed a bill extending until
July 1 1924 the time within which the company's line must be completed
ated.
nd put in operation.
Stock auth., $1,400,000.
V. 100, p. 1509. Bends,
issued, $1,900,000.
Notes, about $2,000,000 6s.
V. 99. p. 537. On
July 2 1914 suit was filed against B. & M. to enforce alleged "contract lia¬
bility" amounting to $3,798,000, the approximate cost of road.
The Boston & Maine reorganization plan of Nov. 1918 made no provision
for the Hampden RR., as the Court had ruled that it has no valid claim
against the B. & M.t but see V. 107, p. 1919, 2008; V. 109, p. 172, 477; V.
112, p. 849, 1282.
not
William E, Gilbert, Pres. of the Union Trust Co., Springfield, Mass., was
appointed receiver on March 1921.—(V. 112, p. 1282.)
HOOSAC TUNNEL &
to
WILMINGTON RR.—Hoosac Tunnel, Mass.,
Wilmington, Vt., 24 miles.
Made standard-gauge In 1912.
V. 95. p.
Stock. $250,000;
Dar. $100.
Divs.: In 1903, 2%; year 1995-06.
1541
3%; 1910-11 and 1911-12, 10%; none since.
Earnings for 1920: Gross,
$187,734; net, $21,449; other income, $10,343; interest, $10,866; surplus,
$20,926.
Earnings for 1919: Gross, $142,692; net, $50,982; other income,
$8,098; interest, $10,966; surplus, $48,114.
Pres., John P. Kellas, Malone,
N. Y— (V. 95, p. 1541.)
f -■
\.
HOUSTON & BRAZOS VALLEY RR.—Owns Anchor to Freeport and
Bryanmound. 28.40 miles; leased mileage Freeport Term. Co., Freeport
Brazos River, 2.07 miles.
Total mileage, 30.47.
miles.
In March 1916 Receiver George O.
Morris was authorized to issue $100,000 6% receiver's certificates to build
a bridge over the Brazos River connecting Valasco and Freeport.
Of these,
only $78,000 was issued, and in Sept. 1917 the entire issue had been paid.
Brazoria County paid part of the cost of bridge.
V. 105, p. 606; V. 102, p.
1250.
In Oct. 1919 foreclosure suit filed by Mercantile Trust Co., St.
Louis, was pending in tbe U. S. District Court, Southern Dist., Texas,
Houston.
V. 103, p. 2155.
The Missouri Kansas & Texas owns a half interest In the stock and $131,000 bonds, and the Freeport Texas Co., 61 Bway., owns remaining stock
and
$79,000 bonds.
V. 108, p. 1511.
Stock auth., $120,000; out.,
$24,000.
Of the $420,000 bonds, one-half are guar, by the M. K. & T.,
prin. and int.. which has purchased $92,000 additional.
V. 97, p. 1590.
Income account, cal. year 1920: Gross, $222,445; net oper. def., $38,487;
otherjneome, $96,681; interest, rentals, &c., $67,005; bal., def., $8,810.
to Sulphur Docks (mouth of
Switches and sidings, 6.63
RAILWAY STOCKS AND
140
ILLINOIS SOUTHERN RY.—Owns Salem, III., to
Bismarck. Mo. (in-
cludag River Transfer, 60 miles), 123.34 m.; Collins, 111., to Chester. 111.,
10.67 m.: branches. 2.83 m.: total owned. 136.82 m.; trackage, 2.81 m.
On Sept. 17 1918 William W.Wheelock was appointed receiver.
1st M.
bonds In default.
V. 107, p. 1192.
Operations were suspended in Dec.
1919.
In Sept. 1920 the road was sold.
In Oct, 1920 a decree of fore¬
closure was Entered, directing the sale of the property.
At the sale the
property was bid in
Subsequently,
by
a
however,
representative of the bondholders for
$725,000.
the line
certain interested shippers located on
brought about the organization of a new company and offered $900,000 for
the property, agreeing to operate it for at least ten years.
The new com¬
pany (to be known as the Missouri-Illinois RR.) proposes to issue $1,800,000
Common stock in exchange for the property and $300,000 bonds, the pro¬
ceeds of the bonds to be used for additions and betterments only.
Such
bonds have already been subscribed for by interested shippers.
The stock,
except qualifying shares, Will be owned by six corporations operating lead
mines to be served by the line.
V. 112, p. 1283.
■<'
Stock, com., *4,oUt#,000; 6% cum. or,, M.000,009: par, $100, all out.
Bonds.—V 93 p 589; V. 90. p. 167. Holders of $1,528,000 IstM. bds.
canceled the coupons due Dec. 1 1913 and all In 1914, and holders of $206
000 bonds canceled all 1914 coupons.
Car trusts Dec. 1918, $5,000 (V. 110.
p.77).
,
,
■
.
. after
Boisot
J. W
Office, 915 Oliver St., St. Louis.—(V. 112,
REPORT.—For year ending Dec.
31 1918: gross. $672,611; def
taxes. $191,159; lnt.,&c., $108,608; def., $299,767.
Pres., E. K.
Sec.. E. M. Tourtelot; Treas., O. A. Restel, Chicago; v.-Pres.,
Walsh; Aud., A. F. Williams.
P.L61, 562, 744, 1283.)
INTEROCEANIC RY. OF MEXICO. LTD.—Vera Cruz to
Mexico City
Mex,, 338 miles; Los Reyes to Puente de Ixtla, 123 miles; Los Arcos tc
Cuautla, 102 m.; 3 branches, 30 m.; Mexloan Eastern Ry. (V. 73, p. 1263)
141 miles; leases Mex. Southern Ry.. 313 miles: total, 1,047 m
Conces¬
sions end Feb. 1982
after whloh roaa passes to State at a valuation
Nat. Rys
of Mexico (whloh see) owns £1,038,450 of the 2d debentures
£1,310,500 ordinary
Mex
Govt
and
£244.800 pref. stock. About Aug.
V 100 p 55
See Nat Rys
took possession
15 1914 the
of Mexico
plan (V.99.
extended the mora¬
SECURITIES.—The deben. stockholders In 1914 approved a
p. 48, 674) for deferring Interest
torium for a further three years
payments and in 1917
from May 29 and in 1920 for a
further two
V. 101, p. 130; Y. 104, p. 2343.
years.
1908 and 1909, 5% 1910 and 1911
6% each (M. & N.).
In 1912. Nov., 5%; 1913. Dec.. 4%.
On 2d pref..
1% 1909; Nov. 1910, 4%; Nov. 1911, 4%; Nov. 1912, 2%; 1913. none.
REPORT —For 1912-13 in V 97. p. 1895. V. 100. p. 55.
N. Y. office, 25 Broad St.—(V. 104. p. 2343; V. 107, p. 802; V. 110, p.
DIVIDENDS on
2292,
1st pref., 4K%
2387.)
LAKE CITY & EASTERN
RR.—Owns Jonesboro to
Barfield, Ark., 63.23 miles; Osceola Jet. to Midway, Ark., 2.4 m.; Dell to
Wilson, Ark.. 23.6 m.; total, 89.23 miles. Stock, $600,000. Bonds, $724,000
outstanding, of which $70,000 are
pledged as collateral.
For cal. year 1920,
?-oss, $597,394:Wilson; Treas., E. J. Mason. $131,460; Jonesboro,$71,369.
net, $60,092; int.,rentals, &c., Office, bal., def. Ark.—
res., R. Lee
(V. 110, p. 167.)
Escalon, Mexico, on the Mexi¬
Central Ry. to Sierra Mojada, 83 miles, all steel.
See V. 64, p. 619.
1919 reported under lease to American Metal Co.
V. 108, p. 480.
Bonds, see V.
88. p. 1437, 1500; V. 89, p. 104; V. 91, p. 1026.—(V.
103, p. 159; V. 107, p. 2098; V. 108. p. 480.)
MEXICAN NORTHERN RY.—Owns from
can
In Jan
MEXICAN SOUTHERN RY., LTD,—Puebia to Oaxaca, Mex., 228 miles,
all narrow-gauge: branch, 31 m„ Tehuacan to Esperanza; Oaxaca to San
Pablo, 16 m.; Oaxaoa to Tlaoolula, 20 m„ opened Jan. 1912; other, 7 m.,
total, 302 miles; sidings, 19 miles.
Tehuacan tram lines, 5 m., standard
gauge, and Oaxaca
The road passes
Ord. stock, £1,000.000.
June 8 1990 to the State without payment, except for
tram lines, 7 m., narrow gauge.
V. 79, p. 2642.
Leased from Jan. 1 1910 to
Interoceanlc Ry of Mexico.
See that company.
The rental due June 30.
July 28 and Dec. 31 1914 and Jan. 28 and April 27 1915 was to be satisfied
by 5% deb. certificates redeemable from earnings.
As no rentals have been
receive 1 from luteroceanlc Ry. for period subsequent to June 30 1914, an
extension of the moratorium was agreed to. V. 101, p. 130; V. 99, p. 674.
V. Ill, p. 896.
Int. on 2d debs, (now 1st) payable only out of profits on Feb. 1 & Aug. 1.
stations,
15-year prior-lien 6% bonds s limited to £2,500,000, secured
prior lien on the entire property.
Red. at 102 H any time on 6 months'
Trustee, Nat. Trust Co.. Toronto. Ltd.
V, 96. p. 285. 1229
The issue of
by
a
notice.
payment of coupons was deferred, owing to financial conditions tn
Europe and Mexico.
V. 99. p. 674.
OFFICERS.—Pres. and Receiver, R. Home Smith; V.-P., Miller Lash;
L. R. Hoard. O. W. Borrett; Sec. & Treas., R. H. Merry.—(V. Ill, p. 1566.)
The
MICHIGAN EAST & WEST RY—Manistee to Marion. Mich., 72 m
Operations suspended. In March 1918 was denied authority to discontinue
business and junk the road. Sold under foreclosure Aug. 2 1918 as a going
business to he William T. Joyce Co., Chicago, mor gagee. V. 107, p. 696;
V. 106, p. 1126, 189; V. 105, p. 607; V. 91, p. 887, 365; V. 98. p. 74.
In
1920 sold at auction to The Hyman Michaels Co., Chicago.
V. 110, p.
2487.
Pres., J. 8. Joyce; Treas,, F. P. Leffingwell, both of Chicago.—
(V. 107, p. 596; Y. 110, p. 2487.)
;
MIDLAND
PENNSYLVANIA
RAILROAD.—Projected from Millers-
burg, Pa., to Ashland, 44 miles.
Stock authorized and outstanding, $2,000,000.
Bonds authorized. $2,090,000.
About $812,300 bonds issued
on account of construction,
15 miles, Millersburg to Gratz, completed in
1916.
Int. defaulted July 1912.
The Dauphin County (Pa.) Court was
asked on Oct. 7 1920 to order the sale of the road.
V. Ill, p. 1566.
Sale
ordered, V. 112, p. 162.
Pres. & Gen. Mgr.,
N. J.—(V. 112, p. 162.) V.vv:\
rolling stock, Sec.
New
130; V. Ill, p. 896.1
OFFICERS.— Chairman, Sir Ernest Paget; Sec., Thos. Linton, 53
Broad St., London, E. O.—(V. 80, p. 222; V. 101, p.
RY.—Owns and controls 540H miles
I La Junta to Mlnaca
6.34
(Chihuahua)
475.78 Cumbre to Chulchupa(buildlng) 5.08
San Antonio to Cuslhulrlachlo- 13.051
Owns over 3,000.000 acres of timber lands, with 2 mills at Madera with a
MEXICO NORTH WESTERN
Juarez to Tabalaopa
Oludad
capacity of 175,000,000 ft. per year, and 2 mills at Pearson with a capacity
of 250,000,000 ft per year.
Controls finishing, &c., plant at El Paso, Tex.,
capacity 100.000,000 ft. per year.
8ee V. 88. d. 749; V. 89, p. 348. 470;
V. 94, p. 1627; V. 96, p. 287.
Status in Oct. 1920, V. Ill, p. 1566.
Stock. $40,000,000 (par $100), of which $25,000,000 Issued.
ff BONDS.—Present limit 1st M. 5s, £8,459,700; issued, £5.600,000. V. 88,
p. 749; V. 93, p. 28, 1324, 1463; V. 95, p. 176; V. 97, p. 521, 595.
te As to 6% cumulative convertible Income bonds, see V. 94, p. 1627.
Geo. A. Aldrich, Audubon,
MOREHEAD & NO. FORK RR.—Morehead to Redwine. Ky.. 24.44
m.; 3.47 m. branch.
Stock, auth., $500,000; out, $260,600; par, $100'
Bonds, see table above.
For year ending Dec. 31 1920, gross, $142,963;
net, def., $9,348; int. & rentals, $20,714; bal., def., $30,062.
Pres., A. W.
Lee, Clearfield, Pa.; Sec. & Treas., John W. Wrigley, Clearfield, Ky.
NORFOLK & PORTSMOUTH BELT LINE RR.—Owns Port Norfolk to
Berkley, Va ,6.13 miles, and Southern branch extension. « 01m.; operated
lease, 1.85 miles.
In 1918 built from Virginia Ry. to Elizabeth
River 2.47 miles (main line owned, 14.10 miles; leased, 4.20 miles; total
all track, 56.55 miles).
In Nov. 1909 acquired entire stock of Elizabeth
River RR., whose bonds are guaranteed.
V. 90, p. 1044.
Stock, $57,600,
all owned by Atlantic Coast Line, Norf. & West., Ohes. & Ohio, N. Y. Phila.
& Norfolk, Seaboard Air Line, Norf. Southern Ry. and Virginian Ry.
Bonds, see table.
Year ending Dec. 31 1920, gross, $618,355; net oper.
income, $97,171; other income, $42,322; deductions, $103,159; bal., stir.,
under
$31,334.—(V. Ill,
p.
793, 896.)
ROCKINGHAM RR—Owns Gibson to Leak, N. C., 21H miles. Opened
May 1912. Incorporated in No. Car. in 1910.
Stock, $72,000; par $100.
Bonds, see table above.
Pres., T. C. Leak, Sec. & Treas., J. LeGrand,
Everett.
Office, Rockingham, N. C.
St. Louis, 111., to Troy, 111.,
total, 18.9 miles; leases St. Louis &
Formosa, 111., 7 m.; yard track and
ST. LOUIS TROY & EASTERN RR.—East
with branch 1 mile to Donkville, 111.;
INTERSTATE RR. (OF VA.).—Operates about 55 ratios of track Id
Southwestern Virginia, of which 39 miles is owned, extending from Stonega,
via Norton, to Glamorgan, &c.
Proposed extension, V. 112, p. 1144.
No
funded debt other than equipment trust certificates, which are being retired
annually.
The lines have direct connection with the Southern Ry., Louis¬
ville & Nashville ItR., Norfolk & Western Ry. and the Carolina Clinchfield
& Ohio Ry.
Equipment trusts of 1913 and 1917 (V. 95, p. 1608; V. 104, p.
1045) guaranteed by the Virginia Coal & Iron Co. (V. 91, p. 1636), which
owns 99% of the capital stock.
Gross (year ending Dec. 31 1920), $1,192,159; net. $171,584: other income, $215,422; interest, rents, &c., $74,050;
divs. (6%), $242,008; surplus, $70,948.
Pres., Harry L. Miller, Big Stone
Gap, Va.; Sec., Lafayette Lentz; Treas., Harrie B. Price, Land Title Bldg.,
Philadelphia.—(V. 112, p. 1144, 1866.)
JONESBORO
[Vol. 112.
BONDS
111. Belt, Edwardsville, 111., to near
Strictly a freight road.
In Jan. 1916
guaranteed prin. and int. by Merchants' &
owns the $850,000 cap. stock) and Pres.
Conrades. V. 102, p. 154, 251.
Dividend record to Jan. 1 1916; 12in
1903 and 1904; 25% each year 1905 to 1909 incl.; 12J4% in 1910 and 10%
in 1912.
None since at last advices.
For year 1915-16, gross, $350,421
net, $134,692; int., Sec., $60,957; surplus, $102,748.
For cal. year 1917;
gross, $565,651; net, after taxes, $259,148.
Pres. E. H. Conrades, 314 N.
4th St., St. Louis.
V. 108, p. 1166.
sidings, 17.28 m.; total, 45.19 miles.
sold $202,000 5% equip, notes
Mfrs.' Investment Co. (which
SOUTHWESTERN RY—Owns Henrietta to Archer, Tex., 29.07 miles:
0.75 m.
On Nov. 12 1917 A. C. Parks was
and in 1918 operations were suspended.
V. 108, p. 169.
Stock, $35,000; par, $100.
Bonds (authorized amount, $389,905).
Fi¬
delity Trust Co., Fort Worth, Tex., trustee.—(V. 105, p. 2273.)
leases Henrietta terminals,
made receiver,
TONOPAH & TIDEWATER RR.—Owns Ludlow, Cal., on the
ft, Santa Fe, to Beatty, Nev., 169 miles: extension proposed to
Top.
Atch.
Tono-
Nev., 110 miles. Acquired the Bullfrog-Goldfield RR. in 1920.
V. ill, p. 1567.
Stock authorized, $1,000,000.
The debenture stock
certltloates are guaranteed by the Borax Consolidated, Ltd., and are secured
by deposit of mortgage and bonds Issued thereunder with the Indian ft
General Trust Co.
Ltd., of London* redeemable at 105.
V. 81, p. 1793*
V. 82, p. 753, 871, 1440.
The bonds of 1905 and 1907 are guar, by Borax
pata,
V. 86, p. 722.
Earnings for cal. year 1919: Gross,
Consolidated.
$423,240; net, after taxes, def., $7,831.
C. B. Zabriskie;
OFFICERS.—Pres.. R. O. Baker; V.-P. & Gen. Mgr.,
Sec., M. R. Musser.—(V. Ill, p. 1567, 1662, 1950.)
an
to
It
WINONA BRIDGE RAILWAY.—Owns bridge between Winona, Minn.,
I Buffalo. Wis., 1.03 miles; opened Sept. 1 1891.
Leased for 30 years
Chicago Burlington
was
ft Qulnoy and Green Bay ft
reported, acquiring about
Western, the former.
two-thirds and the latter the balance of
$400,000 stock; par $100.
Of the $384,000 5% bonds due Sept. 1 1915,
$104,000 were paid at maturity and $280,000 extended for 20 years at 6%.
Sinking fund provision of old mortgage abrogated and sinking fund of $14,000 per annum provided, which will
Year end. Dec. 31 1919, total net
retire the extended bonds at maturity.
earnings, $19,860; int. on bonds, $14.-
000; sinking fund payments & misc., $14,000;
C. G. Burnham; Treas., T. S. Howland; Sec.,
1629.)
YOSEMITE
Park. 78 miles,
bal., def., $8,140.
Pres.,
H. E. Jarvis.—(V. 101, p.
VALLEY RR.—Merced. Cal., to the Yosemite
completed May 15 1907.
Stock,, $5,000,000, all
National
outstand¬
ing; par, $100.
IstM. bonds ($3,000.000auth.).
V. 82, p. 511, 930; V. 84,
p. 1553.
Chairman of bondholders' committee, Charles K. Mcintosh, car®
Mercantile Trust Co., San Francisco.
1st M. coupons due Jan. 1 1919,
were met in June 1919, the stockholders providing at least a part of th®
funds.
V. 109, p. 74.
Coupons due July 1 1919 were paid on Dec. 1919.
V. 110, p. 79.
Coupons due Jan. 1 1920 were paid in June 1920.
V. Ill,
p. 190.
Coupons due July 1 1920 were paid in Dec. 1920.
V. 112, p.
163.
Second mtge. 5s, $2,000,000 held in treasury June 30 1914.
For
year ending June 30 1915, gross, $323,215;
net, $117,548; other income,
$1,060; interest, &c., $158,026; bal., def., $39,418.
In 1915-16, gross,
$429,396; net, $244,430.
In 1919 travel was unusually heavy and for th®
half-year to June 30 the gross Income was estimated at $136,874; net, after
taxes, $39,505.
V. 109, p. 74.
Pres., Frank G. Drum, West Coast Life
Bldg., San Francisco.—(V. Ill, p. 190; V. 112, p. 163.)
INDUSTRIAL AND MISCELLANEOUS COMPANIES.
MISCELLANEOUS COMPANIES
[For abbreviations,
&c.,
see
notes
on
page
Acme Tea Co—Common stock
First preferred stock 7 % cum call 110 s fd 2%
2d pref stock 7% cumulative
Date
Par
Amount
Rate
When
Last
Dividend
Bonds
6]
Value
Outstanding
%
Payable
and
Maturity
Q—M
June 1
$100
yearly
Collateral trust distribution mortgage gold
Advance Rumely Co.—Debs 13,500.000 g sk fd call 102H
Common stock authorized $13,750.000
Pref (a <fc d) 6% cum after 1918; call 105
Aetna Explosives Co Inc—Com. stock auth. 630,000 shrs.
500
1907
500
&c
&c
165
100
'
None
1st M $100,000,000 a fd call 105 after 1921
Us.c*
Secured gold notes $5,000,000 callable (text)
Nc*
Alabama Trac Light & Power Co—Com stock $25.000,000__
Preferred stock (a A; d) Q% cumulative $5,000,000
First M $25,000,000 gold red 105 1% sink fund beg 1920 o
1919
56 &c
417,750
3,791,000
100 &c
1916
1,000
1.000
1917
Jan
100
100
1 1931
1 1941
Tan
A & O
do
Bankers Trust Co, N Y
Bankers Trust Co, N Y
$1
Checks mailed
April 1 1930
Dec 15'20, 2% New York
5 g
M
&
S Mar 1 1946
6 g
J
&
J July 1 1922
5 g
10,188.000
2,900.000
17.000.000
1,000,000
13,658.900
100
1912
mailed
do
1H
Jan. 15 1921
2,000,000
7 g
10,000,000 See text
50
Apr 1 1921
Q—J
6
6
$4
None 153,023 sh.
1920
Payable
text
13,750,000
12,500.0006 in 1920
545,114 sh.
50 &c
1919
1921,1 %
are
June 11919.1 %
do
do
See text
10,(K)0,006 See text Q—M
51 Broadway, New York
VI
&
S Mch 1 1948
7,297,000
4 g
Bankers Trust Co. N Y
J
&
D June! 1947
8,977.500
4 g
Guaranty Trust Co, N Y
M
&
S Dec 1925
8i0,000
6 g
Bankers Trust Co. N Y
1915
New- Bonds Issued Under Plan—
Series "A" bonds $660,000 callable at par s fd l-12th ylyBa
Series "B" $3,992,000 call (text) at par s fd l-25th ylyBa
Air Reduction Co., Inc.—Stock 293,334 shares auth
Convert,
s.
f. g. debentures Ser. A. $4,000,000 auth.
call,
(test)
xxx.c*&r*
Alax Rubber Co Inc—Stock $20,000,000 auth
Alaoama Power Company—
500.000 See
100
1898
Where Interest and
Dividends
Checks
1,500,0007 in 1920
100
120,000 shares (20,000 held by co)
mortgage gold
Baz
Collateral trust
$3,500,000
100
....
Adams Express—Stock,
Places
M
&
S Mch
1 1962
Harris, Forbes & Co
do
do
See text
Other bonds—see text.
ACME PACKING CO.—V. 112, p. 259, 654,1026.
,
DIVIDENDS.—On 1st pref., Sept. 1916 to June 11921, lncl.,
7% per ann.
(1 M% quar.)
On 2d pref. Sept. 1916 to Dec. 1917, 7% per ann. (\M%
quar.); none thereafter until June 1919, when 1%% was paid; none since
to Mby 1921.
REPORT.—For calendar year 1919, V. 110, p. 1643:
1917.
1919.
1916.
1915.
.1914.
Sales
$26,671,157 $24,540,855 $18,314,737 $15,049,645 $12,046,356
1,424,595
816,736
719,130
526,734
508,636
No figures for 1918 available.
Pres., H. J. Moffett, Phila.—(V. 112, p. 471.)
Net profits.
ADAMS
CO.—ORGANIZATION.—An
unincorporated
V. 100, p. 289, 371; V. l64, p. 2120.
As of July 1 1918, at the behest of the U. S. Govt., all the company's
express business and equipment in the U.S., together with a required amount
of working capital, was turned over to the American Railway Express Co.
(which see) in return for stock in that company,
amounting
in
Dec.
1920 to $11,904,300.
(See Amer. Ry. Exp. Co. for dividends of $3.50 per
share declared in April 1921.)
The I. S. C. Commission in Dec. 1920, approved the permanent consoli¬
dation of the transportation business and properties of the American Adams,
Wells Fargo & Co. & Southern Express Co. into the American Ry. Express
Co., V. Ill, p. 2522.
The Adams Express Building at 61 Broadway, N. Y., was sold in May
1920.
CASH DIVS., &c.—
11908
1909-13
1914
1915 1916 1917 T8-'20
Since 1907
1 $8
12 yrly.
$5 50
$4
$6
$5 50
none
In 1918 dividends were suspended. V. 106. p. 930, 2346.
REPORT—For year ended Dec. 31 1920 in V. 112, p. 1281.
Profit and loss deficit Dec. 31 1920, $2,126,/92.
Pres., W. M. Barrett.
—V. 112, p. 565,1281, 1/43.
association
EXPRESS
formed in 1854.
ADVANCE RUMELY CO.—ORGANIZATION.—Incoro. In Indiana
Dec. 15 1915, per plan in V. 101, p. 777, 851, 1276, 2146.
Business estab¬
lished in 1853.
Has plants at La Porte, Ind., Battle Creek, Mich., and
Toronto.
Products, agricultural implements such as tractors .separatorsplowing engines, &c.—(V. 102, p. 1626; V. 104, p. 1486; V. 106, p. 1575;
V. 107, p. 2189.)
CAP. STK. & DEBEN.—(a) $13,750,000 com. stk., par $100; (6) $12,$00,000 6% pref. (p. Sc d.) stock cum. after Jan. 1 1919, and callable any
time at 105 and divs., par $100;
(c) $3,500,000 10-year 6% sinking fund
debentures (callable 102 H and int.) protected by provisions of trust deed
end a sinking fund of $100,000 yearly for first 5 years and $200,000 per ann.
thereafter.
To Dec. 31 1920 $2,650,000 debentures had been retired, leav¬
ing$850,000 outstanding.
Preferred Dividends.—No. 1,
IM% paid April 1 1919; to Apr. 1 1921
1H% quar
RE"
EPORT.—For cal. year 1920, in V. 112, p.
1920
•
1919
Gross
Net
$4,954,638
2,723,555
837,936
3,026,551
income
Adjust, of inventory
Loss
on
sale
Canadian
1423, showed:
-__$4,971,129
profits
of
U.
Govt,
S.
1918
1917.
$3,073,877
1,533,587
$2,101,832
749,566
144,657
200,000
165,201
33,808
&
secur-
Bond interest, &c
Res. for Federal taxes
Pref. dividends (6%)
279,337
169.850
159,200
748,506
97,893
526,750
748,506
Balance surplus
528,725
550,557
1,653,401
1,188,929
OFFICERS.—Finley P. Mount, Pres.; A. H. Berger, V.-P. and Sec..
I. Ballentine,
V.-P.:
J
Abrams,
V.-P.; J. R.
Kohne,
Treas;
Directors: Finley P. Mount. W. E
Tavlor and Maurice Fox, La Porte,
Ind.; and C. McK. Lewis, N. Y. City; Stephen S. Strattan, James A. Pat¬
ten, and Ralph Van Vechten, Chicago; John W. O'Leary and Lucius Teter
of Chicago; Howard Coonley, Boston: R. G. Hutchins, Jr., New York;
Office, La Porte, Ind.—(V. 112, p. 1391, 1423, 1619.)
W.
AETNA EXPLOSIVES CO., INC.—ORGANIZATION.—Incorporated
In New York in Nov. 1914 and
acquired a number of piants for the manu¬
facture of gun cotton, black, smokeless and commercial powder, phenol,
Ac. (see V. 105, p. 814) V. 100. p. 1594, 2012.
Claims settled, V. 110,
For list of properties owned compare V. Ill, p. 987.
J. S. Bache & Co., depositary, have entered into anagreement with the
Hercules Powder Co., Inc., dated Nov. 15 1920, under the terms of which
they have agreed to use their best endeavors to have delivered to their
control and possession for sale and delivery to the Hercules Powder Co.,
Inc., all of the issue and outstanding Common stock of the Aetna Explosives
Co.. Inc., and in no event less than 80% thereof.
Compare V. Ill, p. 2043.
V. 112, p. 1026, 1980.
In April 1917 ex-Gov. Benjamin B. Odell and ex-Federal Judge George
O. Holt were made receivers in a creditors' suit. V. 104, p. 1593, 1491.
1140, 1802, 2642.
In Nov. 1919 reorganization was being completed per
p.
872,1291.
5lan in V. 108, p. 2243, 1920 Judge Julius M. Co. acting as Reorganization
lanagers.
On June 8 J. & W. Seligman & Mayer discharged the receiv¬
the
NEW
ers,
company
having
been
reorganized.
SECURITIES.—Under
remain undisturbed.
the aforesaid plan the common
The holders of the $5,322,650 pref. stock were
shares
offered
for each $100 share, $20 75 in cash and $75 in new 6% series B bonds, due
Jan. 1 1941, bearing interest from Jan. 1 1919.
The holders of the $2,224,-
000 1st M. 6s of 1914
were
(a) $850 and int. in cash
entitled to receive for each $1,000 bond either
or par
for par in
new
Series A 6% bonds, due Jan. 1
1931 and bearing int. from date of last maturing coupon on old bond;
Immediate issue in Nov. 1919, $522,000.
Ser. A bonds, limited to the
amount
exchanged for old bonds,
par
for par, have a prior right as to prin.
and int. under the mtge.. and while due Jan. 1 1931 l-12th of the series is to
be paid ann. beginning with year ending July 1 1920, Ser. B bonds are limited
to the amount exchanged for pref. stock and have an annual sinking fund
of l-25th of the series.
Any part or all of Series "A" bonds shall be callable
if less than all) on any interest date at par and
After all of the Series * A" bonds shall have been retired,
by the company (by lot
accrued interest.
any
part or all of the Series "B" bonds shall be likewise callable by the
and interest.
V. 109, p. 1793.
company at par
The stocknolders in July 1920 recommended that the directors take step
19
to list the Common stock
ACME TEA CO.—ORGAN.—Incorp. In Penna. In June 1916 (V. 102.
1988) to succeed Acme Tea Co. (V. 94, p. 561), established In 1885. Has
a chain of (leased) stores located in eastern
part of Penna. and N. J.
Of
the $3,500,000 common stock, over $3,315,400
carrying control is owned
by American Stores Co.
See below.
V. 104, p. 1491, 2120.
1st pref.
stock originally $2,750,000; has been reduced by sink.fd. to about
$1,500,000.
During July 1918 holders of same were offered an exchange for American
Stores Co. 1st pref. stock share for share. V. 109,
p. 271; V: 107, p. 185.
V. 102, p. 1988; V. 163, p. 62; V. 106, p. 88.
No Bonds or mortgage.
p.
on
the N. Y. Stock
Exchange and to change the
Common shares from no par value to $50 par.
Report.—For year ended June 30 1920: Gross sales, $8,607,617: net profit
on sales, $1,087,770; other income, $697,083; bond
interest, $273,924; net
income, $1,510,930.
Balance sheet as of June 30 1920 in V. 11]. p. 788.
Directors.—Samuel Strasburger, B. B. Odell, Sol Wexler, S. M. Sehatzkin, Alfred T. Holley, F. H. Prince, Guy W. Currier, T. L. Watson, W. P.
Foss.
Officers.—Pres., B. B. Odell; V.-P., G. C. Holt; Sec. & Treas., F. E.
Fenton.—(V. 112, p. 259,1026, 1980.)
AIR
REDUCTION
Manufactures oxygen,
CO.,
INC.—Incorp. In N. Y.
acetylene, nitrogen and other
on
Nov.
25
1915.
gases, oxy-acetylene
welding and cutting apparatus and chemicals,
CAPITAL STOCK.—See table at head of page.
DIVS.—Paid $1 per share quar. from July 14
1917 to Jan.
15
1921.
Also paid an extra div. of 50 cents per share in Second Liberty Loan bonds
on Oct. 15 1918.
BONDS.—The convertible debentures Series A are redeemable in whole
or in part and callable for sinking fund at 107H to April 1
1922; thereafter
at
105 to April
Convertible
stock at
on
1 1925; at 102H to April 1 1928; and thereafter at 101.
and after April 1 1922 and until Oct. 1 1929 into Common
of one share of such stock without par value for each
the rate
$62.50 of principal.
An annual sinking fund of $100,000 applicable to the
Series A bonds and payable in semi-annual installments of $50,000 each is
1920
provided, the first payment to be made
Oct! 1 1922.
given the right to subscribe
1189.
EARNINGS.—For 3 months ended March 31 1921 in V. 112, p. 2086.
OFFICERS.—Chairman, F. B. Adams; Pres., O. E. Adams; V.-Pres.,
A. R. Ludlow; Treas., C. L. Snow; Sec., W. M. Randall.
Office, Canadian
Pacific Bldg., Madison Ave., N. Y—(V. 112, p. 259, 1393, 1869, 2086.)
AJAX RUBBER CO., INC.—ORGANIZATION.—Incorp. in N. Y.
Dec. 20 1915, succeeding Ajax-Grieb Rubber Co., Trenton, N. J., estab¬
lished Sept. 11 1906.
V. 101, p. 2073 2146.
Owns plants in Trenton
N. J. and Racine, Wis.
In Dec. 1918 $1,000,000 of stock having been underwritten was offered
to shareholders at 110% ($55 per $50 share) to provide additional working
capital; also $100,000 was offered to employees.
In Aug. 1919 a further
$1,800,000 stock was wholly taken by the'shareholders at $70 a share (par
$50), making the entire $10,000,000 outstanding. V. 109, p. 1275,1181,777.
Stockholders voted Feb. 24 1920 to Increase authorized stock to $20,000,000.
V. 107, p. 2377; V. 108, p. 173, 880; V. 104, p. 363, 766; V. 103, p. 2429.
Stock listed on N. Y. Stock Exchange; see official statement, V. 103, p.
250.
Div. Mar. 1916 to Mar. 1917. 10% p. a.; .Tune 1917 to Sept. 1920,
3% quar.; Dec. 15 1920, 2%.
March 1921 div. was omitted.
Stockholders of record March 6
pro
rata for the bonds at 97.
Notes
on
1920,
V. 110,
were
p.
,
payable Dec. 31 1920, $6,145,000.
EARNINGS.—Cal. year 1920.
p. 747.
Dividends
Balance.
{Est.)
Paid.
Surplus
1920
$55,447 (11)$1,100,000 $1,333,368
750.000(12) 1,032,627
1,168,640
1918.
19,297,721
2,915,368 1,700,000(12)
852,000
363,368
OFFICERS.—Horace De Lisser, Chairman; Joseph C. Weston, Pres.;
Louis P. Destribats, Fred E. Dayton, L. T. Vance, Wm. McMahon,
Vice-Pres.'s; W. J. Jackson, Sec.; and Stuart Webster, Treas.
N. Y.
Office, 220 West 57th St.—(V. 112, p. 747, 851.)
Cal.
Total
Years.
V. 112,
Sales.
Net
Fed'l Taxes
Profits.
$17,515,361def$177,921
22,189,001
2,951,267
ALABAMA
POWER
CO.—ORGANIZATION,
&c.—Incorporated
In
1906 in Ala. and serves directly and Indirectly the major part or the urban
population of northern Ala., incl. "Birmingham District." V. 109, p. 68.
Owns: (a) Hydro-electric development on Coosa River, 45 miles southeast
of Birmingham, installed capacity 90,000 h.p.; (6) Steam turbine station
of 15,000 h.p. at Gadsden; (c) additional steam plant at Gorgas designed for
80,000 h.p., incl. 35,000 h.p. now installed; (d) hydro-electric development
of 2,000 n.p. at Jackson Shoals; (e) 1,154 miles of transmission lines to
Birmingham, &c.; (/) largely through subsidiary companies, hydro electric
possibilities aggregating many thousand horse-power.
The company in Nov. 1920, applied to the Federal Power Commission at
Washington for permission to construct a dam and power plant at Duncan's
Riffle, on the Coosa River.
This new development will provide for an
ultimate installation of 120,000 h. p. the initial installation to be 50,000
h. p.
The Duncan's Riffle development is expected to do ready by Jan.1923.
STOCK.—$18,751,000 Common, all owned by Ala. Trac. Lt. & P. Co.,
In July 1920 offered $1,000,000 7% cumulative Preferred stock
its customers and employees.
V. Ill, p. 296.
The stockholders on May 12 1921 approved the plans changing the auth.
400,000 shares of com. stock and the unissued 90,000 shares of pref. stock
which see.
to
(par $100) into no par stock, and
$25,000,000.
V. 112, p. 2192.
also authorized a new bond issue of
BONDS.—Of the authorized issue of $100,000,000 1st M. 5% bonds of
the Alabama Power Co., $16,346,000 in
Dec. 1920 had been certified by
the trustee, of which
pledged
treasury.
$10,188,000 is in the hands of the public, $4,378,000
to secure outstanding notes of 1917 and $1,780,000 are in the
See V. 102, p. 1250; V. 104, p. 2344; V. 108, p. 68.
Notes.—The notes of 1917 are callable on four weeks' notice at 101H and
int. prior to July 1 1918: then at 101M to July 1 1919 at 101 and Int. tio
July 1 1920, at 100H to July 1 1921 and 100H and int. thereafter.
Th«j
are secured by $4,378,000 of the First Mtge. 5% bonds.
The authorized
issue is $5,000,000, outstanding $2,900,000, and the remaining notes may
only be issued as additional First Mtge. bonds are pledged in the foregoing
ratio. See V. 105. p. 390.
Pres., Thos. W. Martin, Birmingham, Ala.—(V. 112, p. 1026, 1619.
17ALABAJ^A
TRACTION, LIGHT & POWER CO., LTD.—ORGANI¬
ZATION.—Incorporated in Canada Jan. 5 1912 and owns through its sub¬
sidiary. the Alabama Power Co. (which see above), hydro and other elec¬
tric properties in Alabama
.V. 94, p. 628, 981, 1696; V. 101, p. 283.
STOCK.—Pref. dividends in arrears Dec. 31 1920, $360,000.
BONDS.—V. lOG.p. 2556 V. 99, p. 1053 V. 101. p. 283i 775.
REPORT.—Report for year 1920:
All Co's—
Cross.
Net Income. *Tnt.Chas. Disc.Amor.Depr.Tax. Bal.su
$4,149,233 $2,101,763 $1,360,785 $234,332 $262,201 $244,445
2,913,228
1,594.005
1,248,740
125,746
202,723
1 6,795
3,063,366
1,730,157
1,195,879
123,886
313.621
96,771
1917
2,154,325
1,220,750
1,059,592
139,817
21,341
♦After deducting $30,664 In 1919, $26,414 In 1918 and $63,653 in 1917
chargeable to capital account.
Officers.—
Pres., New York; Lawrence MacFarlane,
K.O., V.-Pres., Montreal; William J. Henderson, Sec.-Treas., Montreal,
120 St. James St., Montreal.
President's office, 120 Broadway, N. Y.—
(V. 111. p. 188. 388.)
1919
1918
RAILWAY
143
&c., see notes on page 6]
Par
Amount
Rate
When
Value
Outstanding
%
Payable
$10
Alaska Gold Mines—Stock authorized $10.000.000
Debens Ser A g conv red 110 beg 1018 text
do
Ser B $1,500,000 g conv red 110 beg 1919
Alaska Gastineau Mining Co (sub co)—
G.yc»
Qyc*
Capital stock portion held by public
1st Mtge bonds portion held by public
Aleoma Steel Corporation—8ee
1915
100
Ac
1916
100
Ac
authorized
stock
$1
9.583.462
None 201,000 * h.
100
$25,000,000
xxx.c*EQ
S Mar 1 1926
Feb
6 g
7 in
1,000
1919
100
100
ALASKA GOLD MINES CO.—ORGANIZATION. Ac.—Incorporated
in Maine Aug. 26 1912.
Owns over 95% of the $12,()O0,OOO stock and over
93% of the $3,500,000 1st M. 20-year 6% bonds of the Alaska Gastineau
Mining Co.
The latter owns a low-grade free-milling gold deposit near
Juneau and a mill cap. 8,000 tons per day. V. 102, p. 1633; V. 100, p. 1175.
1920
10-year 6%
debentures, 8eries "A." dated
also Series "B," dated Feb. 1 1916, are convertible into
share and redeemable on or after 3 years at 110 on 60 days'
notice. See application to list, V. 102, p. 1626; V. 100, p. 1175, 476.
As to
Ser. "B," see V. 102, p. 346.
Owing to lack of available funds the coupons due March 1 1918 to Mar.
11921 on the A and B bonds were not paid at maturity. V. 106, p. 930.
DEBENTURES.—The
March
1
1915,
as
stock at $30 per
Where Interest ana
Dividends are Payable
1 1931
1920
89 Broad
St. New York
Checks
mailed
mailed
Checks
mailed
Checks
Jan 15 1920 2% Checks mailed
Text
6.071,000
16,000,000
26,000,000 See text
16.500,000 See text
See
Equitable Trust Co, N Y
J July 1 1939
&
Serial notes—see text.
Allis-Chalmers Manufacturing Co—Common stock
Preferred stock (a & d) cum (see text) red 110.
Places
No coupons paid
since Sept. 1917
S Mar 1 1925
M
Q—J
Apr 14 1921.1 H
100
6
2,000,000
Q—J 15 Apr 15 1921 1H
None
text May 2 1921 $1
text See
2,178,537sh See
7
100 $39,374,300
Apr 1 1921 1H
Q—J
100
shs auth
Pref (a & d) stock 7% cum red 120 $97,326,400 auth
Allied Oil Corp—Capital stock $16,000,000
w
Allied Packers, Inc—Common stock 450.000 shares.
Convertible debs auth $25,000,000 call 110
See text
Maturity
and
M
2g
6 g
250,150
231,000
Alliance Realty Co—Stock $3,000,000 authorized
Allied Chem & Dye Corp—Com stock 3,143,455
Preferred
$7,500,060
1.499,800
1.500,000
1911
Lake Superior Corp.
Inc—8tock auth $25.000.000.-
Cables,
America
All
Last Dividend
Date
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations,
[VOL. 112.
STOCKS AND BONDS
*21 1%
Apr 15 '21. 1%
text May 16
Q—J
Feb. 15 1899 in N. Y.
Its business
production, manufacture and sale of acids and other chemicals.
Co. was incorp. Sept. 28 1881 in N. Y. and is the
largest manufacturer of alkalis and soda products in the U. S., operating
plants at Syracuse, N. Y., Detroit, Mich., and Hutchinson, Kan.
SemetSolvay Co. was incorp. Jan. 31 1916 in N. Y. and is engaged in the manu¬
facture of coke and its by-products, as well as the manufacture of by-product
coke ovens.
Among its products were salicylic acid, caustic potash, benzaldehyde, protective paints for iron and steel, &c.
The Barrett Co. was
incorp. Feb. 7 1905 in N. J., its business being the manufacture and sale
of coal tar products.
National Aniline & Chemical Co. was incorp. May 26
1917 in N. Y.
Its business is
the manufacture and sale of dyestuffs.
General Chemical Co. was incorp.
is the
The Solvay Process
Capital Stock.—The pref.
stock has equal voting rights with common
stock and is redeemable in whole or in part at 120.
EARNINGS.—
Product value
1920.
$1,487,576
1919.
$1,474,491
1918.
$1,136,223
1917.
$2,009,632
Mining profit
def275,195
def278,628
def96,944
285,158
par
2,857
229,232
5.231
225,060
deb.19,621
219,685
12.071
228,552
of
311,421
311,522
311,724
312,996
On
Calendar Years—
Other income
Interest.
Depreciation
-
$809,979
$647,974
$270,722
OFFICERS.—Pres., Charles Hayden; V.-P., D. O. Jackling; 2d V.-P..
C. W. Peters; Sec., A. J. Ronaghan; Treas., J. R. Dillon; Man. Director,
$812,991
Balance, deficit
B. L. Thane.—(V.
Colombia, V. Ill, p. 898, 2231.
vdted Feb. 11 1919 to increase the authorized
capital stock from $14,000,000 to $25,000,000, to provide, when and
and acquisitions and distribution to stockholders
STOCK.—The stockholders
required, for extensions
of accumulated earnings.
V. 108, p. 174.
In 1919 offered to give $180 of company's stock for each $100 share of the
$4,995,200 outstanding stock of Mexican Telegraph Co.
This, if accepted
by all holders, will increase the outstanding stock of Cent. A South Amer.
Tel. Co. to $22,991,400. or, deducting the $953,100 thereof owned by Mexi¬
can Telegraph Co., to $22,038,300; in Dec. 1920 all but $58,809 had been
exchanged.
V. 109, p. 1082. 1369.
/ '85. '86. *87. '88-'96. '97. '98-*15.
1916. '17. '18. 1919-21.
4
4
6
7 y'ly. 6*A 6 y'ly. 6A3 ex. 6
6
Text.
20%; 1907, 25%; 1917, Jan., 1^%; April 1, 46% in
stock, increasing amount outstanding to $13,991,400.
July 1917 to April 1919, cash, l%% quar.; July 1919 to Apr. 1921,1M%
DIVS.
Cash
-%\
In stock.—1890,
quar.
Chairman, W. Emlen Roosevelt; Pres., John L. Merrill; Treas., W. H-
Office. 89 Broad St., N. Y.—
1417.)
—(V. Ill, p. 75,590,898,2043,2231; V. 112, p. 259, 1973, 2086.
ALLIANCE REALTY CO.—Incorp. in N. Y. June 7 1899.
Engaged in
Ooade; Sec., Henry de la Montagne Jr.
(V. 109. p. 1082. 1369; V. 110, p. 1090.
the business of holding, managing and dealing in real estate.
Owns
$1,250,000 out of $2,000,000 pref. stock and $1,620,400 out of $2,000,600
stock of The Broad Exchange Co., and also stock interests in other
com.
concerns.
$3,000,000; outstanding,
$2,000,000;
par
value, $100.
1907-09.
1910.
8yrly.
14
1911-14.
1915 to Apr. 1921
8 yrly. 6 yrly (1 y2 Q-J 15)
ended Dec. 31 1920: Net oper. income, $176,114;
$45,800; net income, $130,314.
Balance sheet in
EARNINGS.—For year
expenses
and
taxes,
V. 112, p. 471.
OFFICERS.—Pres., Walter T.
Rosen; V.-Pres., Harry S. Black and
W. Smith.
Office, 115 Broad¬
Clarke G. Dailey; Sec. & Treas., Howard
way,
N. Y(V. 112,
p.
471.)
ALLIED CHEMICAL & DYE CORPORATION.—Incorp. in N. Y. on
a consolidation by means of stock ownership of the control
Dec. 17 1920 as
of
General
The
Chemical
Barrett
Co.
Co.,
Semet-Solvay Co.,
and National Aniline
The
Solvay Process Co.,
inc.
The plan
& Chemical Co.,
provided for the exchange of the pref. and com. stocks of the consolidating
companies by the holders thereof, based on their outstanding capitalizations
for the stock of the "new company" as follows:
Slock of Consolidating
Companies
Exchangeable
on Basis of
'
General Chemical Co. (6%)
Preferred:
$100 par
(7%)
$100 par
Nat. Aniline & Chem.Co.,Inc.(7%).$100 par
The Barrett Co.
Common:
For Stock of
New Company
Preferred (7%)
$100.00 par
$116.66 par
$100.00 par
Common (without par):
General Chemical Co
$100 par
2.59956 shares
Co
$100 par
3.16083 shares
Semet-Solvay Co
$100 par
2.G5786 shares
The Barrett Co
$100 par
2.28876 shares
Nat. Aniline & Chemical Co., Inc.-.l share (without par) 1.00000 share
with adjustment of cash dividends on the commnon stocks of the consoli¬
dating companies from July 1 1920.
The existing funded debt of the consolidating cos. was not disturbed.
The Solvay Process
The plan was declared operating in Dec. 1920.
full, compare Y. Ill, p. 1379.
Mar. 7 1921 from 373,264 shares
on
stock without par value.
on
com.
stock of $1 per share was paid May 2 1921.
pref.,
paid
1%%
quar.
on
Apr.
1
1921.
REPORT.—Consolidated income account for 1920: Gross income,
after
depreciation, etc., $29,768,751; reduction of inventories, etc., $11,025,123;
Federal taxes, $2,563,689; net income, $16,179,939.
Compare V. 112,
p. 2079, for consolidated balance sheet, etc.
V.-Pres., H. H. S. Handy, Edward L. Pierce,
Orlando F. Webe,
William HamlinCblids and
S. Lutkins; Cornp., Frank Nay.
Directors.—W. H. Nichols, W. II. Nichols Jr., Eversley Childs, William
Hamlin Childs, Orlando F. Weber, William J. Matheson, N. Y. City;
E. L. Pierce, II. II. S. Handy, Syracuse; Rowland Hazard, Peacedale, R. I.;
Armand Solvay, Emanuel Janssen, Brussels, Belgium; and Roscoe Brunner,
of Norwich, Eng.—(V. 112, p. 64, 374, 565, 747, 851, 1026,1401,2079.)
W. H. Nichols Jr.; Sec. & Treas., Clinton
ALLIED OIL CORPORATION—ORGANIZATION—Incorp. in Del¬
in 1917.
Company owns the entire outstanding capital stock of: (a)
A Fuel Co. of Texas; (b) Central Power A Light Co. of
aware
Consumers Gas
Texas; (c) Dalsa Oil Co. of Texas; (d) San
For details of plan in
Jacinto Petroleum Corp. of Del.,
%ths of the capital stock of Alamo Petroleum Corp. of Delaware:
(/) 10-1 lths of the capital stock of Western Globe Oil Assn. of Texas; and
(fir) half of the capital stock of Okla-Paragon Pipe Line Corp. of Delaware
Through its subsidiaries the company owns about 98,113 H acres of oil and
gas leases in Blanco, Gillespie, Llano, Cornel, Callahan, Coleman, Comanche
Concho, Eastland, Jack, McCullough, Mills, Palo Pinto, Parker, Runnels,
San Saba, Taylor, Shackelford, Stephens, Wichita, Wise and Young coun¬
ties, Texas.
The company is also operating in the Caddo Parish, Louisiana,
where it owns 483 acres of proven territory.
In addition it owns property
in the proven oil districts of Washington County, Ohio, Chautauqua
County, Kan., and Washington County, 111.
Has 27 producing wells in
the Ranger, Burkburnett and Caddo fields, with production of 1,000 bbls
per day.
CAPITAL STOCK.—The auth. capital stock was increased in March
1921 from $12,500,000 to $16,000,000.
and (e)
DIVIDENDS.—Dividends were paid at the rate of 12% p. a. (3% quar.)
during 1919; Jan. 1920, 2%: none since to Apr. 1921.
Pres., S. A. Taylor,
Pittsburgh.—(V. 112, p. 1026.)
INC.—ORGANIZATION.—Incorp. in Delaware
and operates various packing companies, viz.: Parker,
Co., Detroit; Klinck Packing Co., Buffalo; F. Schenck & Sons,
June 6 1919 and owns
Webb
&
Wheeling, W. Va.; Canadian Packing Co., Ltd. (formerly MatthewsBlackwell, Ltd., Toronto: W. S. Forbes & Co., Richmond, Va.; Macon
Packing Co., Macon, Ga.; Batchelder A Snyder, Boston; Chas. Wolff Packng Co., Topeka, Kan.
V. 108, p. 2434, 2630; V. 109, p. 74. 174.
CAPITAL STOCK.—Auth., common, 450,000 shares, no par value;
pref., $25,000,900; outstanding, common, 201,000 shares; pref., $6,071,000.
Sufficient of the common is reserved for the conversion of the debenture bds.
110 and int. on any int.
Convertible into common stock at the rate of
Authorized, $25,000,000; out¬
standing, $16,000,000; balance issuable under certain careful restrictions,
annual sinking fund beginning Dec. 31 1921, 2% of all bonds at any time
issued.
Bonds converted are credited against the sinking fund obligation.
BONDS.—The debenture bonds are callable at
date
on
60 days'
notice.
13 shares of stock for each $1,000 bonds.
iSee V. 109, p. 74.
There were outstanding
...
in May 1921 $2,000,000 collateral serial notes
ice of certain of the acquired plants.
V. 109, p. 74.
plan of readjustment was announced in May 1921, for details of which
issued part purchase
A
cent....—6 yrly.
1906.
1%
1902-05.
DIVIDENDS.
Per
common
ALLIED PACKERS.
Total Inc. Net Income.
War Tax.
Dividends.
Bal., Sur.
$9,664,901 $5,010,696
$950,000 (7)
$1,545,790 $2,514,906
1919
5,628,534
3,789,823
809;110 (6M) 1,218,634
1,762,079
1918
4,584,888
2,991,194
1,390,567 (6%)
839,484
761,143
1917
4,27.3.397
3,217,748
653.783 (6%)
77.3.172, 1.790.493
For 3 mos. ended Mar. 31 1921; net revenue, $1,808,888; surplus after
reserves, divs., etc., $701,117.
V. 112, p. 2086.
STOCK.—Auth.,
increased
stock (par $100) and 2,163,455 shares of common stock without
value, to 973,264 shares of pref. stock (par $100) and 3,143,455 shares
Divs.—Initial div.
REPORT.—For 1920 in V. 112, p. 1973, showed:
Cal.Year—
CAPITAL
was
OFFICERS.—Chairman, William H. Nichols: Pres.,
Central A South
21 1920
Owns
telegraph and cable lines extending from Vera Cruz, Mexico, to the principal
ports or Central and South America, as far south as Valparaiso and Santiago,
Chile, and from those points to Buenos Aires, Argentina.
Total cable lines,
16,200 miles, and land lines, 1,800 miles.
Also owns jointly with the
Mexican Telegraph Co. cables from Galveston, Tex., to Ooatzacoalcos,
Mexico, and from New York to Colon. Isthmus of Panama, via Cuba.
In
1919 placed in active operation the cable and land line between Montevideo,
Uruguay and Buenos Aires, Argentina; completed a cable line from Monte¬
video to Santos, Brazil; and acquired a land telegraph line from Arica, Chile,
to La Paz, Bolivia (see V. 110, p. 1643).
New cable facilities in Cuba and
limit of
capital
of pref.
112, p. 851. 1743, 1980.)
ALL AMERICA CABLES, INC.—Formerly known as
American Telegraph Co.
Present name adopted Feb.
as
The authorized
V. 112, p. 1980, 2086.
REPORT.—For year ended Oct.
see
30 1920: Gross earnings, $5,915,488;
earnings, $617,265; other income, $439,103; total income, $1,056,369;
interest, $1,709,196; other charges, $1,423,158; bal., def., $2,075,985.
Pres., John A. Hawkinson.—(V. 112, p. 259, 471, 1980, 2086.)
net
ALGOMA STEEL CORPORATION.—See
110, p. 872.
Lake Superior Corporation
below and V.
ALLIS-CHALMERS MANUFACTURING CO.—ORGANIZATION.—
Incorporated in Delaware on Mar. 15 1913 as successor of the Ailia-Chalmers Co. (foreclosed) per plan V. 94, p. 913.with new cash working capital.
Manufacture# heavy engincc, mining and other machinery.
V. »4. p. 913.
Has no bonded debt.
Peace products, Y. 107, p. 1748.
STOCK.—The pref. stocn Is pret. both p. 6c a., cum. from Jan. 1 1913
at
5% per annum;
but entitled to 7%
a
from Jan. 1 1915 at 0%, and from Jan.
from beginning If earned and declared.
majority of the directors
17No moAgageOien while
0f1?rreVfff»ridNg'snrtS-
1 1917 at 7% ,
It may elect
and is redeemable at 110 and divs.
any
V. 102, p.
pref. stock remains outstanding, unless
80%
1916.
1917.
1918.
1919.
1920. 1921.
Preferred (regular)
6
6H
7
7
7
See
On accumulations
—
3
3?<
3
4
.
text
In Jan. 1920 the accumulated preferred dividends were paid off lm all
with a payment of 1 % %.
Initial dividend on common stock of l% was paid Aug. 16 1920; same
amount paid quarterly to May 16 1921.
REPORT.—For year 1920 in V. 112, p. 1736, 188, showed:
Calendar
Sales
Total
Fed.,&c.,Tax.
Year
Billed.
Net.
& Contmg. Dividends.
Surplus.
1920
$51,516,209
$4,664,248 $1,100,000 $1,917,041
$1,647,207
1919
30 224,083
5,967,716
2,368,000
1,780,174
1,819,539
1918
35 031,234
9,754,749
5,128,882
1,619,423
3,006,444
1917:'":: 26,129 317
5,308,790
1,298,300
1,618,375
2,392,116
„
'
MAY, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on page 6]
STOCKS AND BONDS
Date
Par
Amount
Rale
When
Last
Bonds
Value
Outstanding
%
Payable
and
Amalgamated Sugar Co—Common stock S25.000.000
1st Pref a & d stk $5,000,000 8 % cum call 120 s f 2 % of issue
American Agricul Chemical Co—Stock common $50,000,000
Pref (a & d) 6% cum $50,000,000
j
First mtge bonds conv $12,000,000 red 103.. Col.xc*<fer*
First ref mtge s f gold bonds Ser A red (text) „OB.xxxc*&rt
Debentures $15,000,000
cony g
(called for pay't—see text).
$10
100
100
1908
1,000
1921
500
1914
100 &c
<5cc
&c
100
xxxc*
1921
First mortgage gold sinking fund redeemable (text)
An additional $472,000 held in treasury on Dec. 31
x
100
1,000
CO.—ORGANIZATION.—Incorp.
Jan.
1915 in Utah.
Owns seven beet sugar plants at Ogden, Logan, Lewiston
and Smithfield, Utah, and Burley, Twin Falls and Paul, Idaho.
V. 107, p.
804.
Reported in Oct. 1920 to have purchased the factory of the West
Cache Sugar Co. in Northern Utah.
(Statement to N. Y. Stock Exch.,
V. 110, p. 2575.)
CAPITALIZATION.—Common stock auth., $25,000,000; issued, $6,"
824,400: pref. stock,!$5.000,000, all issued to retire old pref. and 1st Mconvertible bonds, and provide additional working capital.
V. 109, p. 2173,
Production
Year—
and Net
1916-17.
1918-19.
1919-20.
1910-21.
Production(lbs.)92,459,672 94,035,594 112,313,836 87,458,500
Net aft.Fed.tax.$2,680,755 $1,423,214
$389,267 $1,549,082
$329,632
Pres., A. H. Lund; Sec. & Treas., S. M. Edgell.—(V. 112, p. 1026, 2086.)
AMERICAN AGRICULTURAL CHEMICAL CO.—ORGANIZATION.
—■Incorp. in April 1899 in Connecticut under special charter.
V. 68,
aud V 72, p. 6/2; V
73. p. 6t>4" V. 75, p. 241, 2%>, 440; V
77, p 39o;
V. 83. P. 1230; V. 84. p
272; V. 87. p. 874: V. 92. p 324: V 93. d 1669;
V. 94, p. 209: V. 98, p. 525.
See V. 71, p. 545.
On June 30 1920 the com¬
p. 9/4.
operating 39 fertilizer plants, 15 by-products plants and 3 phos¬
phate mining plants, and had more than 55,000 local agents.
Also owns and
operates the Charlotte Harbor & Northern Ry.
Good-will, patents, trade
marks, &c., carried at $1.
V. 103, p. 754.
STOCK.—All shareholders of record Nov. 14 1918 had the right to sub¬
scribe for $9,484,400 new common stock in amounts equal to
20% of their
respective holdings.
V. 107, p. 1838.
pany was
BONDS.—The
1st M. bonds ($12,000,000 auth.) are convertible into
stock at par.
Sinking fund, 3 X% annually of all bonds issued;
retired by sinking fund to Apr. 30 1921, $4,171,000, conv. into
pref. stock,
$1,213,000.
First & ref. mtge. bonds are reserved to retire this issue.
V. 87, p. 741, 814, 874; V. 92, p. 264, 324.
The $30,000,000 first ref. mtge. 7>£s are secured by a
mortgage on all real
estate, plants and equipment, now owned or hereafter acquired, subject
only to the $6,959,000 1st (closed) mtge. 5s to retire which 1st ref. mtge.
bonds are reserved.
The mortgage will provide that the 1st mtge. 5% bonds
shall not be extended, so that upon their payment, at or before
maturity in
1928, the 1st ref. mtge. will become a first mtge. on all the properties.
None of the subsidiary companies has any funded debt.
Future series may bear such rate of interest, mature at such
times, be
callable at such prices, have such convertible or tax provisions and be
paya¬
ble in such currencies and at such places as the directors may determine.
The total mortgage debt shall never exceed 75% of the value of the mort¬
gaged property, based upon the book valuation June 30 1920, plus the cost
or fair value (whichever may be the
less) of property subsequently acquired
subject to the mortgage.
pref.
.
The total combined net assets of the company and its
subsidiaries, after
deducting all liabilities except funded debt, shall equal at least 250% of
the entire funded debt, including bonds proposed to be issued.
If the total combined current assets mil below 160% of total current-
liabilities, the company shall declare no further dividends upon its common
stock until said ratio is restored;! f below 160% it will default under
mtge.
No further 1st refunding bonds shall be issued unless the
average annual
net earnings for the last three fiscal years,
applicable to interest charges,
shall oe twice the annual interest charges on the funded debt
outstanding,
including the bonds proposed to be issued.
The bonds are callable all or part at 105 prior to Feb. 1 1926,
during next
5 years at 103 X', next 5 years at 102 M; next 4 years at 101; last year at
100 X
Three per cent annually of total 1st ref. mtge. bonds, first
payment
Feb. 1 1923, to be used for purchase or call and retirement of bonds sufficient
to retire before maturity more than
50% of the amount of the present issue.
In addition a sinking fund of $375,000 per year is operating to retire the first
mtge. 5% bonds.
«
.
.
.
(a) to retire by call or purchase the
outstanding $5,035,900 conv. gold deb. bonds due Feb. 1 1924 and (6) to
provide additional capital required for the increasing business.
V. 112,
p. 472.
The debs. ($15,000,000 auth.) are conv. intQ com. stock at
par; the entire
amount outstanding ($5,035,900) was called for payment
Aug. 1 1921 at
101 and int. at the Guaranty Trust Co., N. Y.
V. 112, p. 1026.
Notes
payable at June 30 1920, $17,880,000.
Common Dividends (Rate %.)
Jan.'12-July'16.
Oct.'16-JuIy'17.
Oct.*17-July'18.
Oct.'18-Oct.*20.
4% p.a.(l%qu.) 5% p.a.(l^%qu.) (6% p.a.(lH%qu.) 8% p.a.(2%qu.)
Note.—The Jan. and Apr. 1921 divs. were
paid in scrip convertible into
stock at par.
REPORT.—Report for
June 30
Years—
year
end. June 30 1920 ih, V. Ill, p. 984:
1919-20.
fTotal income
$9,373,213
Bond interest
'607,204
Deprec'n, freights, &c__
3,484,447
Bonus to
1917-18.
$8,206,128 $11,377,108
'784,785
876,404
3,262,673
2,455,725
employees
Preferred divs.
icommon
1918-19.
(6%)—
1,705,460
1,659,896
" 1,658",487
dividends. H(8%) 2,551.275(7^)1813,125 (6)1,059,777
Surplus
1,024,828
$685,649
$5,326,715
1916-17.
8,709,216
884,680
2,278,180
210,264
1,655,067
(5)875,468
$2,805,557
f After deducting Federal taxes assessed for cal. years 1919,1918 and 1917
DIRECTORS.—Robert S. Bradley (Chmn.), Peter B. Bradley (Pres.).
B. Burton (1st V.-P.), Wm. Prescott (V.-P.), J. M. Clifford
(V.-P.),
Tbos. A. Doe, Geo. C. Bingham, A. B. Hepburn, Charles B.
Whittlesey,
Samuel Carr, J. F. Kehoe, G. C. Lee, Marcellus E. Wheeler, F. L. Ames,
Galen L. Stone, J. D. C. Bradley (V.-P.), D.C.Clark, T.D.Darlington,
Phillip Stockton and Horace Bowker (V.-P.).
Jas. A. Starrett is Sec. and
Geo.
Acting Treas.
1026, 1619.)
N. Y. office, Rector St.—(V. 112, p. 259, 472, 565, 934,
AMERICAN BANK NOTE CO.—ORGANIZATION.—Incorporated In
as United Bank Note Corp.,
per plan V. 81, p. 1851.
1794: V. 92, p. 1315. 1503; V. 96, p. 714.
Has plant In Bronx and office
building at 76 Broad St.
V. 104, p. 859.
In Oct. 1919 sold the old plant
on Trinity Place, N. Y.
V. 109, p. 1793.
N. Y. Feb. 20 1906
Sc
A Feb
1 1924
Q—F
Q-J
do
Columbia Tr Co,NY A Bos
Lee,
Higginson & Co,
N Y, Bos &
Chicago
Guar Tr Co, N
May 16«'2i" 2
Apr 1 1921 1
Checks
See text
6c Bos
Y
Checks mailed
mailed
do
do
text
STOCK.—No Hen or new stock without assent of 80% of each class.
f '06.
1907-11.
'12.
'13.
'14.
T5.
*16. '17-'19. '20.
'21.
Com.% \
2
4 yearly
5
6
3X
2
4
6
7
text
Paid 1X% quar. from 1917 to May 1920; Aug. 1920 to
May 1921 paid
2% quar.
REPORT.—For cal. year 1920, in V. 112, p. 930, showed:
Cal.
Profits (aft
Interest, Pension
Pref.Div. Common
Balance,
Yr. Depr.,&c.) Disc.,&c. hFd.,&c. (6% p.a.)
Dividends.
Surplus.
1920-$2,890.209 $175,079 $603,788 $269,739 (7%)$314,699 t$l,591,508
1919- 1,771,893
117,228
204,314
269,739
(6%)269,742
f647,778
1918- 1,217,221
32,343
130,810
269,739
(6%)269,742
514,587
1917824,064
34,134
55,877
269,739
(6%)269,742
194,572
t After deducting exchange losses, &c.
Pres., D. E. Woodhull; Sec., Geo. H. Dahforth; Treas., Charles L. Lee.
Office, 70 Broad St., N. Y.—(V. 112, p. 64, 930. 934.)
AMERICAN BEET SUOAR CO.—Incorp. March 24
*X0, 616; V. 88. p. 1250; V. 102, p. 715, 1809.)
DIV'DS.—
('99-'00. '11. '12. '13-'15. '16.
'17.
1899.—(V. 68.
'18.
'19. '20-'21.
7X
8
8
See
12
text
Preferred—% (Oct. 1 '99 to Apr. 1 1921, Inch, 6% p.a. (13^% Q-J).
In Jan. 1920 declared a dividend of 8% on common payable in four
2%
instalments as follows: April 30, July 31 and Oct. 30 1920, and Jan. 31 1921.
April 1921 div. omitted.
V. 112, p. 1520.
Common —%\
do
Nil
IX
extra % I
5
Nil
__
AX
—
—
__
REPORT.—For year ending March 31 1920, in V. 112, p. 2080, showed:
1Q90-91
1Q1Q-9D
1Q1S-1Q
Gross sugar sales
$11,549,715 $13,575,403
Net income
$133,508
$2,425,810
Preferred divs. (6%)—
300,000
300,000
Common dividends
Deprec'n, additions, &c_
233,170
1017-18
$7,471,383 $12,584,367
$1,200,739
$3,135,188
300,000
300,000
(8)1,200,000 (8)1,200,000 (8)1,200,000
573,945
Balance,sur.ordef—_def$399,662 sur$351,865 def$299,261 sr$l,635.188
Pres., H. Rieman Duval; Sec. & Treas., Charles O. Duprat, 32 Nassau
St., N. Y.—(V. 112, p. 1520.)
AMERICAN
BOSCH
MAGNETO CORPORATION.—ORGANIZA¬
TION.—Incorp. in N. Y. Jan. 9 1919, and acquired the assets of every
Bosch Magneto Co. of N. Y. City (previously German
owned), including a plant at Chicopee, Mass., &c.
In Aug. 1920 the
stockholders of Gray & Davis, Inc., approved a contract by which American
Bosch Magneto Corp. becomes exclusive selling agent and assumes manage¬
character of the
ment of the company.
CAPITAL STOCK.—The stockholders voted
on
Dec. 17 1919 to Increase
the capital stock from 60,000 to 100,000 shares.
Shareholders of record
Jan. 5 1920 were given the right to subscribe to 20.000 shares of the addi¬
tional stock at $100 a share to the extent of 33 1-3% of holdings.
The
directors were authorized to issue to or for the benefit of employees from
time to time not
more than 5,000 shares at $100 a share.
V. 109, p.
Dividends 1919: April 11, $1 50; June 30, $1 50; Oct. 1, $2;
2, $2; April 1, $2 50; July 1, $2 50; July 15, 20% payable in
(increasing the outstanding stock to 96,000 shares.
V.
110,
p.
Oct. 1, $2 50; 1921, Jan. 2, $2 50; Apr. 1, $1 25.
2358.
Jan.
1988,
1920,
stock
2293;
Additional working capital was secured by the sale of $1,800,0007%
Serial Gold Notes, maturing $600,000 annually.
In Dec., 1919, announced
the notes due Jan. 15 1920 would be paid In accordance with their
that
terms, and that all the remaining notes had been called for payment on Jan.
15 1920 at 101 and int.
V. 109, p. 2173.
The report made to N. Y.
Stock
Exchange, dated April 23 1919, upon the listing of the stock was
printed in V. 108. p. 2042.
In May 1921 sold $2,500,000 8% sinking fund gold notes. V. 112, p. 2192.
REPORT.*—For cal. year 1920, in V. 112, p. 934, showed:
1920.
1919.
1917-18.
1916-17.
Sales
1915-16.
—$8,805,339 $5,982,668 $3,815,786 $4,539,508 $4,009,022
Net profits (after
Federal taxes),
1,469,872
921,963
670,547
478,864
806,646
OFFICERS.—Arthur T. Murray, Pres.; George A. MacDonald, V.-Pres.
Treas.; Arthur H. D. Altree and Leon W. Rosenthal, V.-Presidents;
A
John A.
MacMartin, Sec.—(V. 112,
p.
747, 934, 2086, 2192).
AMERICAN BRAKE SHOE A FOUNDRY CO.—ORGAN.—Incorp
in
J. on Jan. 29 1902.
Reincorp. in Delaware, effective Oct. 1 1916.
,
Proceeds of this issue will be used
common
1 1941
F
Checks mailed
do
DIVS.
Earnings Years ending Feb. 28.
1917-18.
A Feb
IX
1 1928
&
1920.
DIRECTORS.—Fred Yogel Jr.
(Chairman Exec. Comm.), Otto H.
Falk (Pres.), Oliver C. Fuller, Charles F. Pfister and C. E.
Albright, of
Milwaukee; Wm. T. Abbott, Max Pam and F. O. Wetmore, of Chicago;
J. D. Mortimer, Arthur W. Butler, Charles W.
Cox, Oscal L. Gubelman,
R. G. Ilutchins Jr., Arthur Coppell, J. H. McClement and Charles
Hayden,
of New York, and James P. Winchester, of
Wilmington, Del.
Office, Mil¬
waukee—(Y. 112, p. 374, 1520, 1736, 1881.)
SUGAR
Payable
are
Apr 1 1921 IX Cheeks mailed
Apr 1 '21 $1.25 Mercan TAD Co. N Y
J
&
D June 11936
2,500,000!
8 g
First Nat Bank, Boston
Mar 31 '21
148,410 sh See
text
Q—M
$1
30 Church St, N ¥
7
Mar 31 '21
9,463,700
Q—M
do
1%
M
&
S Mar 1 1952
X120.000
5g
Farmers' L A Tr Co. N Y
None
1902
Oct
F
96.000 sh;See
500 &c
American Brake Shoe A Foundry—Cora stk 400.ODD sh.auth
Pref (a & d) stk 7% cum red 11*0 $10,000,000 auth
O
text
15.000,000 See
5,000.000
6
100
None
Sinking fund gold notes redeemable 105
&
4,496,737 See text
6
4,496.737
Where Interest and
Dividends
See text
Apr 15 '21
A
5 g
See text
Places
Apr 1 1918, 3% Co's office, Ogden,' Utah
May 1 1921 2% Bankers Trust OotJ.NdY
Q—F
Q—J15
Q—J15
7Xg
30,000,000
60
Dividend
Maturity
5
6.959.000
50
American Beet Sugar—Common stock
Preferred (a & d) stock 6% non-cum $5.000,000
Amer Bosch Magneto Corp—Stock 100,000 shares
AMALGAMATED
$6,824,400
8
5,000.000
33,322,100 8 In 1920
28,455.200 6 In 1920
100
American Bank Note Company—Com stock $o,000,000
Preferred (a A d) 6% cum $5,000,000
x
143.
N.
Official data V. 103, p.
2427; V. 100, p. 558, 2012. A consoUdation, V. 74,
579; V. 79. p. 2087; V. 90. p. 238; V. 91, p. 212; V. 92, p. 185; V. 90, p.
1240: V. 95. p. 1747; V. 96. p. 655; V. 98. p. 384; V. 100. p. 557.
Manu¬
p.
factures about 175.000 tons of brake shoes for steam and electric
cars
and
V'. 105. p. 2453.
Sale of Erie plant, V. 108, p. 2124.
Erectionplants at Newark, N. J., and Denver, Colo.
V. 110, p. 1291; V. 112, p.
1395.
Amer. Brake Shoe & Fdy. Co. of California, V. 110, p. 1291.
Dur¬
ing 1919 acquired the Southern Foundry & Machine Co., Chattanooga,
Tenn. (V. 110, p. 1219), and during 1920 acquired a two-thirds interest in
the Amer. Forge Co.
V. 112, p. 1395.
CAPITAL STOCK.—The shareholders voted July 1 1920 ratified a plan
for recapitalization in accordance with which:
(a) Holders of the old Pre¬
castings.
of
ferred stock
were
share of the
new
entitled to receive in exchange for each share thereof
one
7% Cumulative Preferred Stock and three shares of the
(b> Holders of the old Common stock were entitled
to receive in exchange for each share thereof one share of the new 7%
Cumulative Preferred stock.
The plan approved called for the issuance
of $10,000,000 7% Cumul. Pref. stock, red. at 110, and 400,000 shares
of Common stock of no,par value.
Compare V. 110, p. 2293, 2569.
The new Pref. stock is entitled to 7% cumulative dividends and has vot¬
ing rights.
Redeemable, all or in part, at $110 per share and accumulated
new
Common stock,
dividends.
The new common stock is entitled to dividends at the discre¬
tion of the board, after dividends on the new pref. stock have been paid.
The new common will not have voting rights until they shall be granted by
a vote of a majority of the new pref. stock.
In case of liquidation, the new
pref. will be entitled to priority to the extent of par and accumulated divi¬
dends, and the new common to the remaining assets.
In July 1920, $9,600,000 new pref. and 160,000 shares new common
stock were listed on the N. Y. Stock Exchange.—V. Ill, p. 296.
LATE DIVS.
1907.
*08. '09. T0-T2. T3-T5. '16. *17. '18.
'19.
1920.
On Old Stock.
Common
%—
5
AX
5
Preferred %
7 yearly
Extra on preferred stock, In cash
In Liberty bonds—
—
On New Stock—
Common
Preferred
7 yrly. 7 yrly.
8 yrly.
7
8
7
8
2
4
7
8
4
7
11
3X
6
1
5
1920.
$4
7% y'ly
1921.
see
text.
(Q.-M. 31)
Date
&c., see notes on page
American Can—Common stock S44.000.000 authorized
Preferred (a & d) stock 7% cumulative S44.000.000
Par
Amount
Rate
Value
Outstanding
%
Payable
•
"14-Ba.xc*
American Car & Foundry—Common stock S30.000.000
0
Preferred fa A d) Rtock non-cum *30.OOO.OOO..
O
$15,000,000 g red 102H s f beg May
American Chicle—Stock common 162,500 shares authorized
Preferred (a & d) stoeK 6% cumulative S3,000,UOO.
Serial gold notes (closed) due $300,000 yrly
Baxxxc*;
Ben Sen Ohiclot Oo.sk.fd. bonds call 107 14 V.10B, p 2344 zz
stock $50,000,000 authorized
Preferred stock 6% cumulative $10,000,000 authorized
100
author..
American Dist lei Co tor N Ji—Stock SiU.OUO.OUO
1st M collat trust call at 105 8c lnt auth $1,000.000-—-—
American Still Alarm 1st M Series G 5s guar p & i_.
American Druggists
American
None
■
600 &c
1909
«»
mm
—
—
'
100
'
100
—
Syndicate—Stock $10,000.000
Express—Shares
100
par not
.
fixed.
100
1.000
1911
1919
1.000
1906
1.000
500
text
Junel 1920. 1%
text
20.237,100 See
text
Dec 1 1920,3%
10.198,600 See text
MAN Mav 1 1931
5 g
5 090,000
M
&
S Sept 2 1024
9.500.000
6 g
text
9.965,351 See
Q—J
iApr 29 '21
1%
A
&
O April 1 1926
5
445,000
A
&
O Apr 1 1923
5 g
9,000
6,779,830 8 in 1920 M & S 15 Sept 15 *20 4%
Q-J
Apr 1 *21 2%
18,000,000 See
text
„
100
10
treate d
100
aa
do
do
3,000,000 6 in 1920
Q—J
Apr 1 '21 1
Bankers Trust Co, N Y
A
&
O Oct
1 *21-'2
2,200,000;
6 g
N Y Guar Tr Co
J
&
D June 14 1929
2.047.500:
6 g
V
:
15,000,000 See
text
Q—f
May 2 19212% Checks mailed
do
do
10.000,000 6 to 1920
Q—J
Apr 1 '21 1)4%
too
1,000
1919
stock $20,237,100
105 $14,562,300-$15,000.000 authorized eold red 105
Ce.xc*
gold $10,000,000 call 102 $500,000 yearly
Cec
Notes
.«* mt
rtiectrle Kaiiway Section.'
American Cities Co—See
(The) American Cotton Oil Co—Common
Pre! (a & d) stock 6% n-o sub to call
Bonds
100
'Cm**'
American Cigar Co—Common
Ik
Q—J
Aprl'21.1^% Checks mailed
Bankers Trust Co, N V
F
8c
A Feb 1 1 928
5 s
10.233,000
30.000,000 12 in 20
Q—J
Apr 1 1921 3% Guaranty Trust Co, N Y
do
do
7
30.000,000
Q—.T
Aprl'211 H%
19-25W. 44th St., N.Y.
151,408 sh 4 in 1920
Q—F
Nov 1 '20 $1
500
1913
m **
Places Where Interest and
Dividends are Payable
Dividend
and Maturity
$100 $41,233,300
100
41,233,300
-
•
Debentures
Last
When
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations,
[VOL. 112.
STOCKS AND BONDS
INDUSTRIAL
144
N
New York Trust Co,
do
do
First
^
do
d"
N Y
City, NJ
Nat Bank,
15 Ex PI. Jersey
New York
Detroit
Office,
Trust Co, Mich
65
Y
N
B'way,
it
BONDS.—Drawn $20,000
yearly till Mar. 1 1922 at
105, then at par.
OFFICERS.—Chairman, Otis H. Cutler; Pres., lJ. B. TerbeJl; ViceThompson. William S. McGowan, Clifton D. Pettis
B. Given Jr., and Thomas Finigan; Treas., Henry C.
Knox; Sec., George M. Judd; Comp., G. C. Ames.
Office, 30 Church St.,
N. Y.—(V. 112, p. 472, 1395.)
Presidents, James 8.
Wm. F. Cutler, Wm.
AMERICAN BRASS
CORP.—|V. 112, p. 747, 2086.)
AMERICAN CAN CO.—ORGANIZATION.—Incorp. in New Jersey on
March 19 1901 as a consolidation of about 100 concerns.
See V. 72, p. 5§2.
In
1920 operated 55 factories Including machine shops.
SeeV. 84, p.
994:
V. 90, p. 371, 629; V. 96, p. 1841
The Sanitary Can Co., acquired
In 1908, has been dissolved,
v. 85, p. 656; V. 86, p. 336, 422; V. 90,
p. 504, 1230; V. 105, p. 2367; V. 106, p. 88; V. 86, p. 796.
Has arrange¬
ment with Goldschmidt Detinning Co., now Metal & Thermit Corporation.
V. 88, p. 232, 373.
V. 90, p. 371.
Dissolution suit, see V. 103, p. 13,
240, 667.
V. 102, p 802, 1348, 1719; V. 106, p. 88; V. 107, p. 1542; V.
108, p. 680; V. 110, p. 655
Liberty Ordnance Co., V, 107, p. 2190.
Set¬
tlement of munition contracts, V. 10&, p. 2435; V. 110, p. 655.
Interest
PREF DIVS.J
Body Co., V. Ill, p. 794.
Regular
('04-'12. '13. '14, '15. *16. '17.
7
(
7 %j6y'ly
7
7
7
'18. '19. '20.1921.
7 7
7 IK,IK.-.-,
-(All paid in 1917)
accumulations on the
24 Ml ---8.96
On Dec. 20 1917 paid the final 3.7157% due for
preferred stock.
V. 105, p. 2186, 1421, 999, 907.
On accurau
($15,000,000 auth.), of which $14,"
now $500,000 yearly.
DEBENTURES.—The debentures
000,000 were sold, are callable at 102)4: sinking fund,
V. 96, p. 421, 489, 1230; V
97. p. 1841. In DeC.
mained outstanding.
In Feb. 1921 sold $12,000,000 short-term notes to
N. Y.,
1921.
maturing $3,000,000 each on
V. 112, p. 565.
1920 $10,233,000 re¬
,
1917.
1918.
1919.
,
and Dec, 12
112, p. 648, showed:
1920.
,,
First National Bank,
Sept. 12, Oct. 10, Nov. 10
REPORT.—Report for 1920, in V.
$9,851,876 $11,728,758 $17,076,335
Res've for Federal taxes.
3,000.000
4,000,000
7,000,000
Depreciation
1,500.000
2,000,000
3,500,000
Interest on deb. bonds..
520,958
548,533
575,508
Preferred dividends..(7%)2,886,331 (7)2,886.331 (7)2,886,332
$21,995,042
$3,114,495
$5,309,674
Earnings
.
Balance, surplus.....
$2,293,894
$1,944,587
6,000,000
3,500,000
602,183
*6,583,185
8.9657% back dividends. !
Total profit and loss surplus Dec. 31 1919, $21,830,295.
DIRECTORS.—D. G. Reld (Chairman), F. S. Wheeler (Pres.), H. WPhelps, F. Rudolph (V.-Ps.), R. H. Ismon (Sec.-Treas.).W. H. Moore,
Paul Moore, F. L, Hine, R L. Skofield, Geo. G. McMurtry, K. S. Breckenridge, Chas. Stollberg.
Office, 120 Broadway, N. Y.—(V. 112, p. 164, 565.
*
Includes 7% regular and
648, 747.)
AMERICAN CANDY CO.—V. 109, p.
1610.
'04. '05. *06.
/ V
J.—
DIVS.
On
com__«%\
In 1921, Jan.,
to be
83. p. 1413: V. 84. p. 1553.
Car & Foundry Co., V. 110, p. 563.
*07. '08. '09to 15. '16. *17. *18. '19. '20 1921*
3
2 yrly. 2
8
8
9
12 text
1
0
0
3
3% April, 3%.
Reserve for common
dividends on April 30 1920
amounted to $10,800,000,
paid when and as declared by directors.
REPORT.—For year ending April 30 1920
1919-20.
1918-19.
in
3, p.
1917-18.
1916-17.
sources__$14,382,565 $17,273,172 $16,461,823 $17,522,909
11,281,742
10,310,872
Net earnings—
10,401,192
11,771,813
2,100,000
2,100,000
Preferred divs. (7%).._
2,100,000
2,100,000
Divs. on common
(12)3,600,000 (8)2,400,000 (8)2,400,000(6)4)1950000
2,400,000
2,250.000
Reserve for com. divs
3,600,000
2,400,000
*
500,000
2,500,000
250,000
.
R. James Jr.; Vice-Pres.. J.
Balance.
$451,172 daf $895,372
318,136 surl.101,609
surl,083,590
—
sur 411.498
Adams: Pres.. Darwin
F, Bresnahan and Leon G.
Godley; Sec., M. D.
A. Masterson.
Bromberg; Treas., Ernest Willvonseder; Asst. Treas., A.
Office, 19-25 W. 44th St., N. Y.—(V. 112, p. 64, 472, 851,
931.)
AMERICAN CIGAR CO.—The American Tobacco Co. owns majority of
$15,000,000 com. and $10,000,000 6% cum. pref. stock.
See V. 73,
p. 1113; V. 78, p. 1393;
V. 93, p. 1122-24.
Holds a large intetest In Ha¬
vana Tobacco Co. com. stock.
V. 85, p. 285; V. 86, p. 110.
Properties.
V. 72. p. 185. 284. 937. 1037: V 73. p. 9.58: V. 75. p. 1255The stockholders voted on Nov. 24 1920 to Increase the authorized
common stock from $10,000,000 to $50,000,000.
The outstanding amount
was increased from $10,000,000 to $15,000,000 through the payment of a
50% stock dividend"on Dec. 15 1920.—V. Ill; p. 1853.
Divs. on pref. stock from July 1906 to July 1912, 6% yearly (3% s.-a.);
Oct. 1912 to Apr. 1921, 1)4% quar.
On com. to 1912 to Nov. 1 1918,
the
6% yearly (1H% Q.-F.); Feb. 1919 to May 1921 paid 2%
50% in common stock on Dec. 15 1920.
Calendar Years—
1920.
I
1919.
1918.
Net earns, aft. Fed .taxes $2,489,869
$2,175,799 $2,318,982
Preferred dividends (6%)
600,000
600,000
600,000
Common dividends(8%) 800,000
(8)800,000
(6)600,000
—
Balance, surplus
Profit and loss, surplus..
Paid
quar.
1917.
$2,213,755
600,000
(6)600,000
$1,089,869
$775,799 $1,118,982 $1,013,755
$9,308,584 $13,218,715 $12,442,915 $11,323,933
Geo. G. Finch, 111 Fifth Ave., N. Y.—
Pres., A. L. Sylvester; Treas,,
(V. 112, p. 259, 935.)
AMERICAN COAL CO. OF
ALLEGHANY COUNTY.—V. 112, p. 260.
(THE) AMERICAN COTTON OIL CO.—Incomorated Oct. 14
New Jersey.
Makes (with subsidiaries) crude and refined cotton
1889 In
oil and
jard, soap fertilizers, &c.
Crude oil mills in all cotton-growing States;
refineries, in Northern and Southern cities.
V. 77, p. 1872; V. 98, p. 1001.
DIVS.—\ '03. '04. *05. *06. *07. *08. '09. '10. *11.
'15. 1916 to Jne. 1 '20.
Com _%\ 4
1
1
2
4
3
5
5
2*4
1 4 yrly (1 % Q.-M.)
Announced in Aug. 1920 that the directors had decided to omit the pay¬
ment of dividends on the common stock until the prices of commodities
and general business conditions shall be more nearly normal.—V. Ill,p.590.
The June 1921 preferred dividend was also omitted.
V. 112, p. 1980.
BONDS, &c.—Of the 5s of 1911 ($15,000,000 auth.). $5,000,000 were
reserved to retire the 4)4s due Nov. 1915 and the remaining $5,000,000 for
future purposes.
No prior lien without written consent of 80% of the
bonds.
V. 92, p. 661, 1638.
In Aug. 1919 sold $10,000,000 5-year 6%
notes, from the proceeds $5,000,000 were used to retire 2-year notes due
Sept. 1 and $5,000,000 to relieve $5,000,000 1-year 7% notes due Sept. 2
1919.
No prior liens without consent of 80% of the notes.
V. 109, p. 678.
REPORT.—Report for 1919-20 in V. Ill, p. 2039.
Net
Deb.,&c.,
Preferred
Common
Balance,
Year—
Profit.
Interest.
Dividends.
Dividends.
Sur. or Def.
1919-20.def_$l,542,531 $850,000 (6)$611,916 (3)$607,113 def.$3,611,560
2,694,214
850,000 (6) 611,916 (4) 809,484 sur.
422,814
1917-18
2.327,995
666,667 (6) 611,916 (4) 809,484 sur.
239.928
OFFICERS.—Chairman, William O. Thompson; Pres., Lyman N. Hine;
1st V.-Pres., H. W. Schekeley, C. O. Phillips, W. j. Cassady, W. B. Pear¬
son; Treas., Waldo S, Reed; Sec.,R.Catlin, 65 Broadway, Im. Y.—(V. 112,
.64,1980.)
AMERICAN DISTRICT TELEGRAPH
CO. (OF NEW JERSEY).—
ORGANIZATION.—Incorp. in New Jersey in Nov. 1901; operates in most
cities and towns of the U. S.; is engaged in all kinds of electrical
protective service.
V. 77, p. 148; V. 81, p. 213.
Messenger business was
leased to Western Union Telegraph Co. from Jan. 1 1911 to Sept. 1927, the
ann. rental being based on past oper. returns, subj. to increase on changes of
business.
V. 94, p. 1121.
Dividends to 1903, 3H%', then to July 1918,
4% yearly, Q.-J., with 1% extra in Jan. 1916. Jan, 1917 and Jan.
Dividends were then suspended (payment of rental having been intermitted
of the large
Earns, from all
Spec. res. for employees.
Res've for imp. & malnt.
Reserve for insurance
198-
1920_-|--$1,757,134 $434,868 $1,586,465 $180,000
1919
2,660,044
311,609
748,680
180,000
1918--- 2,096,883
170,904
662,389
180,000
1917— 1,092,731
177,272
323,943
180,000
Aug. 31
AMERICAN CAR & FOUNDRY CO.—ORGANIZATION, &c.—In¬
corporated in New Jersey on Feb. 20 1899 as a consolidation.
Manufac¬
tures freight and passenger cars of wood and steel.
V. 68, p. 280, 377, 1029;
V. 71, p. 86. 545; V. 73, p. 958: V.
Purchase of interest in Canadian
REPORT.—For year 1920. in V. 112, p. 931, showed:
Total Inc.
Interest. Depr.,&c.Pf.Div.(F>%)Com.Div.
Cal.Yr.
OFFICERS,—Chairman of the Board, Thomas
CO(V. 112, p. 472, 659.)
AMERICAN & BRITISH MFG.
In American Motor
NOTES.—In Oct. 1919 issued $2,500,000 serial gold notes, due $300,000
Oct. 1 from 1920 to 1926 and $400,000 Oct. 1 1927, but subject to call at
price of 103)4 in year 1919-20, decreasing )4 of 1% each year thereafter
to
100)4% to year 1926-27.
While these notes are outstanding, the
property cannot be mortgaged.
V. 109, p. 1610
on
showed:
$2,571,848;
surplus,
REPORT.—For year ended Dec. 31 1920, in V. 112, p. 1395,
Net income, after deducting int., deprec., Fed. taxes, &c.,
di/idends, $1,378,775; loss on sale of Liberty bonds, $337,131;
$855,941.
3,000,000
2,000,000
500,000
—
1918.
1920
owing to losses on messenger service), but from Oct. 1919 to Oct.
% of 1% quar. was paid.
In Jan. and April 1921 paid 1% each.
The Western Union, owning 81.37% of the stock, voluntarily arranged
1919 to pay annually
to
$20,280 (being a return of 6% on the present value),
plant pending a further adjustment of the rela¬
for the use of the messenger
Balance, surplus.
$1,101,192
Profit and loss surplus..$32,425.713
$1,871,813
$2,631,742
$1,010,872
$31,324,521 $29,452,707 $26,820,966
DIRECTORS.—William H. Woodln (Pres.), A. B. Hepburn, S. S. De
Lano (Treas.), J. M. Buick (V.-P.), H. Rieman Duval, Gerald L. Hoyt,
W. M. Hager (Asst. to Pres.), C. R. Woodin, W. C. DIckerman (V.-P.),
Chas. J. Hardy (Gen. Counsel), Hanson R. Duval and John Sherman Hoyt.
Sec. is H. C. Wick.
N. Y. office, 165 Broadway.—(V. Ill, p. 71,1754.)
AMERICAN CHICLE CO.—ORGANIZATION.—Incorp. In
consolidated chewing gum interests (V. 71, p.
June 2 1899 and
N. J. on
545): in
Aug. 1914 aoqulred Sen Sen Chiclet Co.
V. 90. p. 238; V. 68, p. 871,
1130; V. 77, p. 197; V. 83, p. 152; V. 84. p. 160; V. 86. p. 230; V. 90. p. 238;
V. 99, p. 51, 122, 271, 409.
In Oct. 1916 Am. Chicle Co. of N. Y. took
over property of Sterllne Gura Co.
V. 103, p. 1594. 1890: V. 104, p. 258.
Property, &c. (Dec. 1920), V. 112, p. 931.
War orders, 1918, Y. 107, p.
183, 698.
Cap. Stock.—The stockholders on May 6 1920 voted (a) to change the par
value of the Common stock from $100 to shares of no par value and (6)
to increase the number of shares to 162,500 by issuing 82,500 additional
shares (no par value) to be offered for subscription at $40 per share to both
the Preferred and Common stockholders to the extent of M of tinir hold¬
Pref. and com. stocks have equal voting power.
('01. *02. 1903-13.'14. '15. '16. *17-'18. JF7?5.'19 to Nov. '20
8
11 18% yly. 20
UH
1J4
Nil
$1 quarl (Q-F)
Preferred
I
6% yearly (1X% Q.~J.) to Apr. 1 1921
Dividends on the common stock were reduced to 1*4% quarterly In
Jan. 1916 and suspended in Apr. 1916; none then until Feb. 1 1919, when
The Feb. 1921 div. w
1 % was paid since to Nov. 1920,1 % quar.
Sen Sen Chiclets bonds, V. 89, p. 1286.
ings as of May 6 1920.
DIVS.—
Common
...
___
protective com¬
Brown, 55 Cedar St.,
685. Purchase money
obligations, $200,625- Guarantees principal and interest of N. Y. Fire
Protection 1st M. 4s due Sept. 1 1954. ana
$9,000 Amer. Still Alarm Co,
1st M. 5s.
Suit against Western Union for$2,778,823.
V. 110, p. 1090.
Annual report for 1920 in V. 112, p. 1743.
_ .
Pres., Newcomb Carlton; V.-P., Edw. Everett; V.-P., C. O. Johnson;
Sec., Louis Kroc; Treas., G. K. Huntington.—(V. 110, p. 1099, 1644;
tions
between
the
companies.
Minority shareholders'
mittee, Charles F. Tuttle, Chairman; Robert F.
N. Y., Secretary.
V. 107, p. 1670; V. 108, p. 582,
V. 112, p. 260,
1743.)
AMERICAN DISTRICT TELEORAPH
liquidation; messenger plant sola to Western
CO. OF NEW YORK.—In
Union Tel. Co.—(V. 108, p.
880, 1062.)
AMERICAN DRUGGISTS SYNDICATE.—^Has manufacturing
at Long Island City: stock largely owned by druggists throughout
regularly 1908-1920, rate in 1920,
paid in March 1921 was omitted.
V. 112, p.
Dividends paid
to be
1920 to V. 112, P. 747.
.
8%.
472.
plant
U. 8.
The dividend due
Annual report for
..
_
Rights.—Stockholders of record Dec. 23 1919 were given
share for additional capital stock (par $10)
of 33 1-3% of holdings.—(V. 112, p. 472, 747.)
subscribe at $12 per
.
.
.
the right to
to the.extent
laws
AMERICAN EXPRESS CO.—An "Association" formed under the
New York
State Nov. 25 1868.
Not an incorporated company.
1918 the American Railway Express Co. under Govt,
took over the domestic express operations of American, Adams, Wells Fargo
of
control
On July 1
and Southern express cos. for duration
in Dec. 1920 approved the permanent
business
and properties
of war. The T.-S. C. Commission
consolidation of the transportation
V. Ill, p. 2522. The
of the four companies.
MAT, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
[For abbreviations, cfee., see notes on page 6]
Preferred
Par
Amount
Rate
When
Last
Dividend
Value
Outstanding
%
Payable
and
Maturity
Elec—Common stock auth $25,000,000(a & di stock 6% cum auth $25,000,000 red 120
M $6,282,000 gold callable at 105
G.xc*
50
1907
1914
Co
ne
100
&c
100 &c
below.
11,500,000i None pd.l
Q—J
13.000,000:7 in 1920 A
&
O Jan 3 1921
100
100
Ice Co—
Common stock
$7,500.000
Pref stock (new)
100
6% non-cum $15,000,000 (V 104,
561)
-_Ce
PeP xx.c*
7.500,000 4 in 1920 Q—J
15.000.000 6 in 1920 Q—J
919.000
5g
6 g
5.213.000
273.500
100
p
1902
1.000
1.000
1912
Underlying bonds after deduct $457,500 owned
Amer Int Corp—Common stock auth $49,000,000
Managers' stock $1,000,000
100% pd
100
100% paid Oct 15 1919--.
foreign countries.
V. 108, p. 880.
New foreign securities service, V. 110, p. 1974.
Govt, control terminated Mar. 1 1920.
V. 109, p. 2405.
DIYS.—
Per cent
J '01. '02 to *05. '06. '07 to *13. '14. 1915. 1916 to Oct '20
\ 7
8% yrly.
11
12% yrly. 5
4 HI
text
paid 1)4% quar. (6% per ann.) with specialdiv.
Jan. 1916 to Oct. 1920
of $2
in
1917
from
April 1921 paid 2%
Fargo & Co. stock.
Jan.
quar.
investments.
Y. 103, p. 1793.
In Jan. and
In July 1913 paid 25% ($4,500,000) in Wells,
1920.
1919.
Gross earns.-$12,874,067 $8,192,652
Deductions.-.$4,449,747
Oper. income. 4,123,180
Dividends
Other income-
1920
469,097
1,328,699
2,216,656
Pres., G. C. Taylor; Treas., James F. Fargo, 65 Broadway.
565,1743.)
-(V. 112, p.
AMERICAN GAS CO. (HOLDING CO.) PHI LA.—V. 112, p. 164,114&.
AMERICAN GAS & ELECTRIC CO.—ORGANIZATION.—Incorpo
New York Dec. 20 1906, per plan V. 83,
p. 1349, 1473, 1592
V. 101,
p. 2168; V. 102, p. 137. V. 106, p. 298, 398.
Controlled by Inter¬
rated in
ests affiliated with Gen.'I Elec.
Co.
New 30.000 k.w. generating plant at
Windsor, W. Va. (Central Power Co.); V. 107, p. 2291; V. 106, p. 298; V.
105, p. 821, 1524.
In 1916 purchased Citizens' El. Co. of Pittston, Pa.
V. 102, p. 1719.
Increased rates, see V. 105, p. 821.
Nature of Business.—Owns public service corporations located In six
States, supplying electric light and power in 125 communities, including
Canton and Newark, O.; Muncie, Marion and Elwood,
Ind.; Scranton, Pa.;
Wheeling, W. Va.; Atlantic City, N. J.; and Rockford,
aggregate population of approximately 1,034,000.
01.; serving
an
Ohio Power Co.—Name
changed from The Central Power Co. on Nov. 20
1919, is a consolidation of the electric light and power companies in Ohio
controlled by the American Gas & Electric Co.
Operates in the richest
manufacturing, coal and oil producing, and farming sections of Ohio,
serving 51 cities and towns with electric light and power.
on
June 9 1919 voted to increase the stock from
$50,000,000
half
DIVIDENDS.—%
On
common
f
cash
preferred.
'12. '13.
\ 6)4 7%
V.
108,
p.
2124.
'14. '15.
'16 to'18 '19.
8
10 yrly.
8
10
'20. '21.
10
see
Extra in stock (J. & J.)
2
4
4 yrly. 29)4 6
text
In Jan. 1921: Jan. 2,234% in cash and 2% in stock;
April 1,234% in cash.
BONDS, &c.—Coll. trust 5s, see V. 83, p. 1349,1472; V. 86, p. 549,1102,
1531; V. 94. p. 700; V. 99, p. 1834. Debenture 6% bonds. V. 99, p. 51,122.
All of the outstanding ($2,979,000) 6% Secured Gold notes of 1919 (of
which $2,479,000 were due Dec. 1 1921 and $500,000 were due Dec. 1
1924)
were called for payment April 29 1921 at
10034 and int.
\
Leading Bond, &c„ Issues of Controlled Companies Dec. 31 1920.
Authorized
Outstanding.Dated.
Compare.
1917 V.107,p.l83
1918
First & Ref. Ml50.000.000 $15.800.G00
Coll. 7)4. % notes due J'ne *40. $1,500,000
$700,000
Canton »,U.) Eleotno Co. 5s
„x *2.500,000 $1,316,500
Ohio L.&P.Co.. Tiffin,O.,lst5sx30 000,000
1907 V.93,p.160*
1,168,000 1914 V.99.P.1678
General Service Co. Mtge. 5s
(?)
2,251,500 1918 V.106,p.134
Muncle El. Lt. Co.1st gu. 5s__x
Closed
792.000J1907 V.86,p. 484
Marlon Light & Heating 5s
x
Closed
256,5 K) 1907 V.91.P.1774
Ohio State Power Co. 1st 6s
3,000,000
700,000 1915V.101,p.2076
Rockford E. Co 1st & ref. 5s..-X 7.500.000
1.684.000 1909 V.89,p. 630
Soranton(Pa.) Elec.Co.lst s.f.5s xl0.00ft.000
5 803.000 1907 V.85.p. 808
Secured
gold
notes,
6%--$1,000,000
1,000,000 1920 V.105.P.1315
Atlantic City (N.J.) Eleo. 5s —x 5.000 ooo
2.057,000 1908 V.8«.n 1102
Pf.(a.&d.)stk.6%cum.,call.l20 1,500,000
553,100
(dlvs. Q.-F.
)
Atlantic El. Lt.& P. 1st 5S..-X
Closed
175,000
1904
Wheeling (W. Va.) Eleo. 1st 5s_x 12.000,000
1,797.000
1911
V.92.P.1441
1920.
1919.
1918.
Gross earnings of all sub. companies.-$15,350,937
$12,331,198 $10,056,609
Bal. of sub. co.'s earn., after all de¬
2,101,694
1,654,494
2,053,764
1,441,713
973,537
1,339,902
461,805
$3,495,477
1,511,540
386,830
$2,313,439
1,371,268
354,205
$1,509,275
$1,597,107
$587,966
Total gross inc. appl. to Am. G. & E $3,756,188
otalexp. & int. chgs. of Am. G. & E.
1,785,108
Dividend
on
Preferred stock
.
Chairman of Board, 8. Z. Mitchell; Pres.,
B. Ball.
Office, 30 Church St., N.
R. E. Breed: Sec. & Treas.;
Y.—(V. 112,
AMERICAN GLUE CO.—(V. 112,
p.
p.
472, 1146, 7743.)
935, 1512, 1520, 1980.)
AMERICAN ORAPHOPHONE CO.—See Columbia Graphophone Co,
AMERICAN HIDE & LEATHER CO.—ORGANIZATION.—Organ¬
Jersey in 1899 as a merger of upper leather interests.
See V.
69. p. 493; V. 68, p. 925; V. 70. p. 77: V. 102. p. 1348; V. 103, p. 753, an d
Application to list, V. 72, p. 673.
War orders, 1917. V. 105, p. 999.
Government price fixing (ended Jan. 31 1919), V. 106, p. 1853, 1747;
V. 107, p. 404, 804; V. 108. p. 81.)
1
ised in New
PREF.
DIVS—
1905.
Per cent cash
1906-15.
1916.
1917.
1918.
3
nil
5
5
5
U. S. Liberty bonds2
From Jan. 1919 to July 1919, Incl., paid \ H%
quar., Oct
1H% regular and 2% extra in cash. Jan. 1920 to Jan. 1921,
April 1921 div. omitted.
1919.
1920.
9
7
1 1919 paid
1^% quar.
Overdue pref. dlvs. April 1 1921 about
117&%
BONDS, &c.—On Sept. 1 1919 the remainder of the $10,000,000 1st
Mtge. 6s or 1899 amounting June 30 1919 to $2,507,000 was paid off out of
surplus funds. V. 109, p. 983; V. 108, p. 880.
REPORT.—Year
1919-20 in Y. Ill, p. 984; 9 mos. to Mar. 31
V. 112, p. 1980.
O Apr
1)4 New York
1 1922
A Aug
1 1942
Central Trust Co, N Y
New York & Phlladel'a
Sept30 20 $1.50 N. Y.
text
Sept30 20.$1.50 New York
June 30
Gross
Trading
Int.onlst
Other
Pref.
Balance,
Output.
Profits, etc. M.Bds.
Deduc.
Div.
Surplus.
def.$7,687,006
$231,802 Not showndf$7918,808
1919-20--$37,516,049 $2,037,056
$85,250 $847,151 $1,170,000 def$65,345
1918-19— 28,593,698
3,730,436
511,500
523.933
1,267,500 1,427.503
1917-18— 29,104,428
3,534,811
511,500
615,112
650.000
l!758J99
t 9 mos. to March 31.
Profit and loss surplus Dec. 31 1920, $4,185,858.
Years.
-
DIRECTORS.—Theo. S. Haight (Pres.), Charles P. Hall (1st VicePres.), Aaron Hecht (2nd V.-P.), F.L. Roenitz (3d V.-P.), Frederick Strauss,
M. Robson, C. H. Buswell, Chas. W. Tidd, JohnC. Jay,
Jr., James Skin¬
ner, Geo. A. Hill (Sec. & Treas.), Lindsey Hopkins, J. C. Lilly, C. E. Danforth, J. P. Story, Jr., Fred. E. Thompson and Thomas B. Doe.
Office
96 Cliff St., N. Y—(V. 112, p. 565, 851, 934, 1027,
1980.)
AMERICAN
ICE
CO.—ORGANIZATION.—Incorporated In New
Jersey March 11 1899.
Transacts a wholesale and retail business in N. Y.
City, Phlla., Boston, Baltimore, Washington, D. C., Camden and Atlantic
City, N. J.
Operates in New York under name of Knickerbocker Ice Co.
V. 104, p. 165, 363, 453, 561.
Circular Issued by Committee of Large Stockholders.—See V.
109, p. 2264.
DIVIDEND.—No. 1, on
new pref., Apr. 25 1917 to Oct. 25
1919, 1^%
also extra 1%, Oct. 25 1918 and 1919, making 6% foryear. Jan. 24
April 25 1921 paid 1)4% quar.
On common declared 4% for
1920, payable 1% each on Jan. 24, April 24. July 24 and Oct. 25.
On
Jan. 25 1921 paid 1% quar. and 1% extra; April25 1921, 1%.
quar.:
1920
to
BONDS.—The Real Estate First & General Mtge. sinking fund
gold
a
first lien on real estate In Maine. New
York, New Jersey, Pennsylvania, Maryland and District of Columbia,
having an estimated value of $10,979,386 and a general Hen, subject to exist'ng encumbrances, on substantially all the remaining property. Of the bonds,
$5,213,000 on May 11921 were outstanding, $264,000 In treasury, $706,000
in sinking fund.
Redeemable at 102)4 as a whole pn any int. date or for
yearly sinking fund beginning Aug. 1 1913, viz.: 2% for 10 years, then 2)4 %.
V. 95, p. 482; V. 99, p. 1453; V. 101, p. 529.
Of the collateral trust 5% bonds ($5,000,000 auth. issue), $3,155,000 has
been Issued; $2,186,000 used for sink. fd.
mortgages and $50,000 were May
1 1921 in the treasury,
leaving $919,000 outstanding in hands of the
public.
6s ($6,500,000 auth. Issue) are
ending Oct. 31 1920 ill V. 112,
Oct. 31 Years—
Total income
1919-20.
1918-19.
p.
254.
1917-18.
1916-17.
---$15,670,173 $15,548,124 $12,742,433 $10,014,932
Net earnings
4,714,060
5,108,045
3,661,627
2,610,168
Int., taxes, impts., &c._
2,936,453
3,083,813
2,452,333
1,626,857
Preferred dividends
(6 %)899,438
(6)896,331
(6)893,934(3^)563,267
Common
dividends.__(4%)299,776
Balance, surplus
DIRECTORS,
$578,393
&C.~Pres.,
$1,127,901
Wesley
M.
Oler;
$315,360
V.-Pres.,
$420,044
Walter
Lee,
Jr.,
Thompson, D. H. Morris,
Henry H. Head, John F. Harris, Alvin W. Krech, Samuel McRoberts,
John P. Grier and Harry S. Black.
Sec. Henry C. Harrison.
Office,
16 Exchange Place, Jersey City, and 1480 Broadway, N. Y.—(V. 112,
p. 64, 254, 1284.)
V
V.-Pres. & Treas., Thomas Pettigrew; E. P. Passmore, Jos. Wayne,
Robert W. Kelly, L. L. Mann., Col. Robert M.
AMERICAN
INTERNATIONAL
CORPORATION.—ORGANIZA¬
TION.— Incorp. in N. Y. on Nov. 22 1915 with $50,000,000
capital stock
(par $100). consisting of $1,000,000 pref. stock known as managers' shares,
and $49,000,000 common stock,
each full paid.
V. 102, p. 1813.
Final
40% called, $20 per share on June 2 and the remainder on Oct. 15 1919. V.
108, p. 1513; V. 101. p. 1857, 1941, 1762.
is financially interested In following
companies (V. 103, p. 2338); Pacific
Mail S. S. Co. (V. 101, p. 2076); the Allied Machinery Co. of America, Rosin
& Turpentine Export Co. (Y. 103, p.
240), V. 104,_p. 1594.
International
Mercantile Marine Co., U. S. Rubber 6o., N. Y.,
Shipbuilding Corp.
(V. 103, p. 2159, 1986), Carter, Macy & Co., Inc. (tea importers—V. 104,
p. 954; v. 106, p. 88), China Corp. and the Slems-Carey Ry. & Canal Co.
(V. 103, p. 1303; V. 103, p. 1265; V. 106, p. 88), International Products Co.
(V. 104, p. 2237), Int. Steel (export) Corp. (V. 105, p. 999; V. 106.
V.
102, p. 1816.
American Balsa Co., Inc., V. 108, p. 1157.
Balsa
Refrigerator Corp.
Other Interests (V. 106, p. 88) are: American Internat.
Shipbuilding
Corp. (V. 107, p. 2434: V. 108. p. 271, 582: V. 105, p. 1166, 2544, 1245,
1232, 1463; V. 106. p. 1128; V. 107, p. 84. 606.
Grace Amer. Int. Corp.,
&c., V. 106, p. 1579.
Slmms Petroleum Co., V. 109, p. 2358.
The HIspano-American International Corp. was organized in 1919 to undertake
development enterprises in Spain.
V. 110, p. 1319.
Sale of Hog Island
shipyardf
J[ll# p, 002
Common and
j
Balance
New York
{). 88), house (V. 105, Co.,1803; V. 106, p. 88, 1579). Unitedexport and
Inc., Central and South American Fruit Co.
mport G. Amsinck & p.
EARNINGS.—Years ended Dec. 31:
ductions applicable to Am. G. & E_
Other income of Am. G.&E
Payable
24 Apr 25 1921 1%
25 Apr 25 '21.
1920-211
1
Ohio Power Co.
are
1% Equitable Trust Co. N Y
text
REPORT.—Year
STOCK.—Stockholders
$15,000,000 to
Where Interest ana
Dividends
1919
$701,416
1,032,366
64,014
1,158,969
731,118
Surplus——
49,000,000 See
1,000,000 See
100
American Express Co., however, continues to transact a
foreign forwarding
business and foreign exchange as well as its traveler's
checks, money orders
and other financial activities.
(See American Ry. Exp. Co. for dividend
of $3 50 per share paid in April 1921.)
The Am. Express Co., Inc., was
incorporated in Conn, in Feb. 1919
with $6,000,000 to facilitate the company's
operation in
Places
$5,772,700 See text
Q—J
Apr 21*21 2H% Checks mailed
7,696,750 6 in 1920
Q—F
ay2 '21.1)4%
do
do
F
&
A Feb 1 2007
6.282,000,
5 g
Guaranty Trust Co, N Y
M
&
N May 1 2014
5.081.000
6s
do
do
$50
-
Collateral trust bonds gold ($5,000,000)
Real Est 1st & Gen M $6,500,000 er s f red
145
Date
Debenture bonds g (Amer series) red 110
Q.c*&r
Amer Qraphophone Co—See caption Columbia
Graphopho
American Hide & Leather—Common stock S17.500.000-....
Preferred (a tc d) 7% cum $17,500,000 (V 76, p 104)
American
BONDS
Bonds
American (las &
Collateral
STOCKS AND
1921 In
pref. stock
are to
be treated alike until
over
7% is paid,
when managers'shares will receive 20% and common 80% of disbursements.
An Installment of $10, payable Oct. 15 1917, increased the total amount
paid in to $60 per share; the final $40 was called for payment in 1919 as
stated in first paragraph above.
V. 108, p. 2124, 2243.
Statement of Oct. 31 1919 as to financial policy.
See V. 109, p.
For list of investments Dec. 31 1920, see V. 112, p. 1160.
1793.
DIVIDENDS.—Com. and pref., 75c., paid quar. Dec. 1916, to Sept.
1917, incl.: Dec. 1917 to Mar. 1919. 90c. each quar.; June and Sept. 1919,
$1 20 quar. on 80% paid stock; Dec. 1919 to Sept. 1920, $1 50 quar.
Dec. 1920 dividends on both classes of stock omitted.
V. Ill, p. 2043.
CONSOLIDATED REPORT.—For 1920 in V. 112, p. 1138, showed:
Total
Net
Pref. & Com.
Balance,
Total
Income.
Earnings.
Dividends.
Cal.
Years.
1920
1919
1918
1917
Surplus.
$10,308,287
12,327,780
7,846,547
6,830,394
$1,783,467
4,719,167
3,716,379
3,746,122
$2,245,500
2,397,600
1,817,325
1,574,175
$462,033
2,321,567
1,899,054
2,171,947
Surplus.
$2,407,848
7,569,543
5,743,410
♦S^.SIS
OFFICERS.—F. A. Vanderlip, Chairman of the Board;
Pres., C. A.
Vice-Presidents, Geo. J. Baldwin, Thos. W. Streeter, PhiliD W.
Henry. R. P. Tinsley, R. B. Sheridan and Matthew O. Brush.
The Secre¬
tary is R. P. Tinsley, and Treasurer, Joseph S. Lovering.
N. Y. office, 120
Broadway.—(V. 112, p. 472, 1138, 1169.)
Stone;
AMERICAN LA FRANCE FIRE ENGINE CO., INC.—(V. 112, p.
64,
851, 1743, 1869.)
Date
&c., see notes on page 6]
Par
Amount
Rate
When
Value
Outstanding
%
Payable
and Maturity
$100 $27,198,300 See
American Light & Traction -Common stock S40.000.000
Pref (aAd)stk 6% cum *25,000.000 authlV 82, p 50. 279) Gold notes (text) red May 1 1922 at 101
Ba.xxxc*
Linseed Co—Common stock $16,750,000
$16,750,000 7% non-cumuiative
—
American Locomotive—Common stock $25,000,000 —.—
Preferred (a & d) 7% cum $25,000,000 (Bonds, see text}..
Richmond Locomotive Consol Mtge assumed
z
Locomotive A Machine Co 1st 4s guar p A 1
_
z
American Malt & Grain Co—Stk 55,000 sh, no par value—
American Piano Co—Common stock $6,000,000
— Preferred <a & d) stock 7% cumulative $6,000,000
American Pneumatic Service—Common stock $5.000,000...
First preferred (a & d) $3,000,000 7% cumulative
Preferred (a <fc d> 6% non-cumulative $7.000.000
100
Preferred
100
$5,000,000 gold sinking fund.lBz
Lamson Con Store Service Co s f bonds
..IBz
American Power & Light Co—Common stock $17.600.000..
Preferred 'a A d) stock 6% cumulative $5,000,000
Notes gold convertible to Aug 1921 red 102 see text . ..x
Gold deben bonds 6% call 110 ($6,984,300 subscr for).Bac
Secured gold bonds red (text)
__
——.Cek.xxxc*
American Public Serv Co—Pref stock 7% cum, $10,000,000
First Lien
1.000
none
100
50
50
1903
600 See
1902
600 Ac
Nxxxc*
Ac
Ac
100
1.000
100 See
1920
100 Ac
996.000)
NOTES.—Stockholders of record May 25 1920 were
given the privilege
Each
equal to
The notes
the holder
two-thirds
before
1 1924.
2388.
'11 to 19. '20. '21.
f '04. '05. '06. '07. '08. '09. '10.
Common (cash)
„•{ IX 3X 4X 5X GX 9
9X 10% yrly.
Do
(stock).. I
12^ 10
10% yrly.
Paid in 1921: Feb. and May, 1 % in cash and 1 % In stock.
EARNINGS.—For calendar year
1920, in V. 112, p. 565,
1919.
1920.
1918.
7X See
8X text.
showed:
$4,361,545
4,142,863
$4,326,367
4,014,801
$5,392,615
5,023,381
854,172
2,416,637
2,190,390
854,172
854,172
1,986,968
$554,780
$872,054
$97,239
$2,182,241
earnings
Interest on notes
surplus.
Balance,
1920, as in previous years, $1,843,188 for
stock, against $2,416,637 in 1919'.
Total surplus Dec. 31 1920, $9,036,335.
Chairman, Emerson McMillin; Pres., Alanson P. Lathrop; V.-P., Marlon
McMillin: V.-P., O. N. Jeliffe; V.rP., H. O. Abell.
N. Y. office. 120 Broad¬
way.—(V. 112, p. 164, 565, 1027, 1520.)
There
was
also deducted in
stock dividends on common
AMERICAN
LINSEED CO.—ORGANIZATION,
Ac.—Incorporated
J.
V. 67. p. 1161; V. 69, p. 697.
See V. 71. p. 545;
V. 102, p. 1719.
Government dissolution suit, V. 111. p. 191.
Negotiations with Lever Bros., V. 112, p. 935, 1027. Stock, $33,500,000
(one-half 7% non-cum.) pref.; par $100. V. 76, p. 216. Divs. on pref., 1899
to 1900, aggregated 10X%; none then till Nov. 1916, when 3% was de¬
clared payable, IX % Jan. 1 1917 and 14*% July 1 1917.
In Nov. 1917,
1918 and 1919 declared annual divs. of 7%, payable quarterly (Q.-J.) in
following years (V. 107, |p. 201).
Jan. 3 and Apr. 1 and July 1 1921 paid
1M%In Nov. 1919 declared an initial div. of 3% on the common stock,
payable X of 1% Dec. 15 1919 and March, June and Sept. 1920.
On
Dec. 15 1920 and Mar. 15 1921 paid %%.
June 1921 div. was passed.
V. 112. p. 2193.
Bills payable Dec. 31 1920, $10,170,000.
on
1«98 In N
Dec. 5
V. 70, p. 631;
REPORT.—Report for 15 mos. ended
Dec. 31 1920 in V. 112, p. 1019:
Company
Co. and Subs.
Proper
Year ending Year ending Year
Dec. 31 '20. Sept. 30 '19. Sept. 30 '18. Sept.
15 Mos. to%
Gross
(all sources)$13,319,045 $11,025,776
gain
6,238,597
4,329,243
902,042
473,415
earns,
Operating
Int.
on
ending
.30 '17.
$4,385,287
$4,186,044
2,138,970
2,147,519
borrowed money
383,089
Reserve for contingencies
Inventory adjustment__
Balance before divs....
3,571,790
„
surplus adjus..
Total
3,855,828
2,138,970
1,764,430
8,421,515
6,674,651
4,144,675
10,530,479
6,283,645
5,317,175
1,764,765
Deduct dividends—
LOCOMOTIVE
CO.—ORGANIZATION.—Incorp.
in
June 10 1901 as a consolidation of various companies (see fist V.
AMERICAN
N. Y.
on
80).
p.
V. 72. p.
1189; V. 73. p. 84, 186, 724: V. 83. p. 686; V. 88, p.
V. 80. p. 474<
79, p. 1022.
Suit, V. 105, p. 2096.
Plants are located at Schenectady, N. Y.; Dunkirk,
N. Y.; Richmond, Va.; Pittsburgh. Pa.; Paterson, N. J.: Montreal. Can.
and Chester, Pa.
Proposed new plant in St. Louis, Mo. V. 112, p. 260, 935.
102; V. 89 p. 591: V. 78. P. 1111. 1393. 1448; V. 84. p. 1431;
V- 87, p. fi75; V
104. p. 2454; V. 105. p. 182, 906.
V.
1908.1909-15.1916.
1917.
'18.
'19. '20. '21 •
3X
Nil
2X
5A1R.O.
5
5X
6
text
On Sept. 30 1919 the quarterly dividend was increased from 1X to 1X %
which rate has been paid to Mar. 31 1921.
V. 109, p. 678. On the
p^ef. stock full 7% p. a: from organization to date.
DIVS. (%)—
°n common,._____
showed:
Dec. 31 '20. Dec. 31 '19. June 30 '19.
$66,884,613 $70,073,582$108,923,524
REPORT.—For cal. year 1920, in V. 112, p. 935, 1020,
Years ending—
Gross earnings
.
Mfg., maint. & admin, exp. & deprec_
58,043,173
Int., &c..
on
94,300
bondsof constit. cos.f&c.
prof. tax_
U. S. A Can. income A war
(7% per
dividends
Additions and betterments
Preferred dividends
Common
58,115,819
91,569,915
$8,841,440 $11,957,762 $17,353,609
Manufacturing profit.
228 189
1,636,014
1,750,000
418 252
2,235,304
1,750.000
4 922'789
ann.)__
1,750,000
(6%)1,500,000(5^)1375000 (5)1,250,000
2,000,000
4,000,000
5,000,000
,
A
F
Apr
A
A
$1,861,126
.$24,270,702
M
Mellon,
1284.
p,
Guaranty Trust Co. N v
Bankers Trust Co; N Y
1921
L.
Cent
N May 1
&
Clarke, Albert H.
L.
Wiggin, Leigh Best (V.-Pres.),
Office, 30 Church
first dividend in liquidation of $7 per share was
A
paid May 6
"Section" for Oct. 1918American Malting Co. First Refunding
due June 1 1926 were called for redemption June 1
V. 112, p. 2086.
Report.—Statement of earnings from June 10 1919 to May 31 1920:
Gross income from oper., $2,216,240; net income from oper., $217,399;
Other income, $19,101; bond int., $15,190; org. exp., $18,000; Fed. taxes,
$19,951; depreciation, $48,447; net income, $134,912.
Ac., in this
BONDS.—All of the outstanding
DIRECTORS.—DeForest Candee, Russell H.
Forbes Morgan, James B. Taylor, Robert H.
W.
$2,369,269
Landale, S.J.Leonard,
Mainzer and George A.
York.
Officers: Russell H. Landale, Pres.; W. Forbes Mor¬
gan, V.-Pres.: William A. McCarthy. Sec. A Treas.
Headquarters, 120
Broadway.—(V. 112, p. 64, 1284, 1869, 2036.)
Ellis Jr., New
CO.—ORGANIZATION.—Incorp. in N. J. June
the following companies, then having a com¬
pianos yearly; Wm. Knabe & Co., Baltimore,
Md.; Chickering A Sons, Boston, Mass.; the Foster-Armstrong Co., Roches¬
ter.
Pref. stock rights, V. 85. p. 417.
No bonds or mtge.
See V. 86, p.
1531. Balance sheet as of Dec. 31 1920 in V. 112, p. 1619. Divs. on pref.
in full to Apr. 1921, 7% p. a. (1?*% Q.-J.)
Initial div. on com.—IX%
in cash and 5% in com. stock—paid Jan. 1 1920; same amount paid quar.
td Oct. 1 1920.
Jan. 3 and Apr. 1 1921 paid 1 X% in cash.
OFFICERS.—Chairman, C. H. W. Foster; Pres., Geo. G. Foster; V.-Ps.,
W. B. Armstrong, Geo. L. Eaton and Geo L. Nichols; Treas., I. E. Edgar;
Sec., G. W. Cobb. Office, 439 5th Ave., N. Y. City.—(V. 112, p. 1619.)
10 1908 as a consolidation of
bined output of about 18,000
AMERICAN PNEUMATIC SERVICE CO.—ORGANIZATION.—In¬
corporated July 1 1899 in Delaware.
V. 68, p. 1130, 1179. Owns all, or
nearly all, stock of The Lamson Co. (V. 68, p. 1073), the Inter, Pneum.
Service Co., Ac.
V. 84, p. 572, 1244; V. 88. p. 824; V. 102. p. 2255.
Official statement in V. 83. p. 34.
See also V. 88, p. 824.
As a result of President Wilson's veto of the appropriation for pneumatic
mail service through the tubes of this company in New York and other
cities, this service was discontinued on June 30 1918.
V. 107, p. 84, 183;
V. 106, p. 2124, 2561.
Bill introduced in Congress in Jan. 1920 for re¬
sumption of service. V. 110, p. 263.
pref. V. 90, p.
reduced the common to $4,995,662,
Sub. co. stock out. $77,183.
DIVIDENDS on old (now 2d) pref. stock to Jan. 20 1902, Incl.. 6% per
annum in 1906, 4X% in 1907, Jan., 1X%\ 1912. 2%; 1913 to March 30
1918, 3%; Sept. 1918, nil.
V. 107. p. 907, 1006. Semi-annual div. on
first pref., Sept. 30 1910 to Sept. 30 1918, 7% yearly (3X% M. A S.).
First Mtge. Collateral Trust S. F.—Of the $5,000,000 5% bond issue.
$1,849,000 has been issued, of which $1,785,000 was in treasury or sinking)
fund Oct. 1 1919; $600,000 is reserved to retire the $600,000 (auth. issue)
of Lamson bonds, and the balance for extensions, &c.
V. 81, p. 32.
STOCK.—The 7% first pref.
stock ranks ahead of old
449, 504, 701; V. 91, p. 334.
In 1912
changing par from $50 to $25 a share.
REPORT.—Year 1919, in V. 110, p.
Calendar Years—
Earns., after expenses
A depreciation.
$4,012,567
Griggs, Fred'k H. Stevens, W. H. Woodin,
2389. shows:
1919.
1918.
$304,921
25,529
Deduct—Bond interest
51,912
Sinking fund—
$337,213
24,498
74,575
1917.
$461,229
26,150
70,914
preferred divs
$121,756
$37,927
$69,594
Treas., Gilmer Clapp; V.-Pres., Merton L. Emerson; Sec., H. C.
Office, 100 Boylston St., Boston.—(V. Ill, p. 694.)
Balance after
Turner.
AiMERICAN POWER &
LIGHT CO.—Incorp. Sept. 17
1909 In Maine.
Organized bv Electric Bond & Share Co. of N. Y., and Is controlled by inter¬
closely allied therewith.
Controls through stock ownership Kansas
A Elec. Co. and Portland (Ore.) Gas A Coke Co., Pacific Power A light Co.
Nebraska Power Co. and Southwestern Power A Light Co. (see each com¬
Gas
ests
(either directly or through
They supply electric
V. 106, p. 1897.
Subsidiaries serve
controlled companies) a total of 225 communities.
pany).
and power to 19S communities, artificial gas to 31 communities,
natural gas to 5, water service to 7, street railway service to 3. interurban
railway service to 5, Ice to 2.
Total population served est. at 1,603,633.
light
STOCK,
Ac.—With the 6% gold notes of 1911 were
Issued transferable
option
time
option warrants giving the holder of the warrants an
at any
within 10 years to purchase an amount of com. stock at par equal to amount
of notes.
See full particulars, V. 93. p. 106, 668.
Divs. on pref. In full to
On com.. 1913 to Juue 1921, 4% per annum (1% Q.-M.).
Feb. 21 1916 of preferred stock and voting trust certifi¬
its common stock on Feb. 21 had subscribed for
86% of an underwritten issue of $6,984,300 6% gold debenture bonds
.'subscription payments spread over five years), receiving therewith option
warrants giving the right to purchase common stock at par at any time
before March 1 1931 and after March 1 1918. and to pay therefor with
bonds of this issue.
Auth. 6% gold debentures, unlimited as to amount,
Apr. 1921.
Holders of record
cates
to
and
be
warrants for
to an agreement.
Bankers
610. 887, 1601, 1627.
issued pursuant
tru;tee.
V. 102. p.
gold bonds due 1941 are red. at 107X
May 1 1931 at 105; thereafter at X of 1%
V. 112, p. 2193.
The secured
after to
turity.
EARNINGS—For years ending Dec. 31.
Cross
Net
Surplus of
Earnings.
Income.
Sub. Cos.
Year—
1918
1 1921 IX Checks mailed
Aug 1
Mtge. 5% gold bonds
1921 at 105% and int.
DIRECTORS, Ac.—Andrew Fletcher (Pres.), Charles Hayden, Joseph
(V.-Pres.), John W.
International Tr Co, Bos
do
do
1%
1921. V. 112, p. 1869. Compare V. Ill, p. 2044, 2327.
For history of the Malting Co. (a consolidation in
1919
Davis
Y
AMERICAN
MALT & GRAIN CO.—ORGAN.—Incorp. in Dela.
April 19 1919 and purchased June 9 1919 seven malt houses formerly owned
by Am. Malting Co., located at Buffalo, Chicago (2), Milwaukee, Syra¬
cuse, Ac., with total daily capacity of 9,000,000 bushels.
In Nov. 1919
the Chicago and Buffalo plants were In operation producing malt.
Official
statement to the N. Y. Stock Exchange, Ac., V. 109, p. 485, 478, 272:
V. 108, p. 2124, 2331; V. 109. p. 1794.
The directors on Nov. 18 1920
unanimously decided "that it is advisable and most for the benefit of stock¬
holders that the company be forthwith dissolved."
The stockholders in
Dec. 1920 ratified the proposition to dissolve the company.
Liquidation,
it was stated, would begin Jan. 1 1921.
Status in March 1921, V. 112,
$8,999,921 $16,034,678
—
1921
MAS Mar 1 2016
Calendar
profit and loss
Unfilled orders Dec. 31
Net to
Bankers Trust Co N
'18 3X By check
'18 IX By check
11928
1 1922
June 1
Q—M
Q—J
6
21-1«%
W. Spencer Robertson (Sec.), J. O. Hobby. Jr. is Treas.
New York.—(V. 112, p. 260, 472, 935, 1020, 1980.)
Pres. A
Preferred, 7% p.a. (8 X) 1,465,625
1,172,500
1,172,500
1,172,500
Common, ,3% p.a.(3X)
628,125
Profit & loss surplus
8,092,530
9,357,979
5,111,145
4,144,675
Pres., R. H. Adams; Sec., W. A. Jones; Treas., H. E. Cooper.
Office,
Woolworth Bldg..N.Y.—(V. 112. p. 164. 929, 935, 1019, 1027, 1619.2193.)
73,
O Oct
A Feb
&
York
Royal Trust Co, Montr'l
30 Church 8t, New
St.
3,552,745
10,186,280
Previous
do
AMERICAN PIANO
1917.
stdcks$3,560,277
3.236.531
185,037
Div. on pref. stock
854,172
Cash div. on common
1,642,542
Gross earn. sub. co.
do
do
1897) see references
of subscribing to $6,000,000 5-year 6% gold notes at 94?* and int.
stockholder was permitted to subscribe to an amount of notes
6~40ths of the aggregate par value of his entire stockholdings.
carry detachable common stock purchase warrants, entitling
thereof to purchase common stock of the company, in the ratio of
of one share for each $100 face value of notes, at $142per share on or
May 1 1922: at $147 per share thereafter to and including May
$152 per share thereafter to and including May 1 1925.
V. 110, p.
DIVS. (%).
W.
A.
1.715.000 V. 75. p. 341
10,000,000 See this sect n
750.000 V 73. P. 1014
4,793,000/See "Electric
600,0001 Ry. Sec.'
Sc
A
6 g
6 g
Sec
1912
1920
5,000.000
St.P.(Minn.)G.Lt.Co.(V.106,p.2759) 4.360.000
Binghamton (N. Y.) Gas Works....
450.000
N.J. (Long Branch).. 1.000.000
Detroit City Gas Co
9.500.0 (0
St. Croix Power Co .^Somerset. Wit..
2.500
San Antonio P. S. Co.(V.105,p-390) — 4,700,000
Muskegon (Mich.) Trac. & Ltg. Co—
663,000
South St. Paul Gas & Elec. Co
Con. Gas Co. of
do
Mar 15'21
Union Tr Co. N Y
1941
8 g
Apr 11921
1% New York
Q—J
775,800 7 In 1920
,
New York
J
Se
D Dec 1 1942
6 g
4.234.000
New York
M
&
S Mar 1 1922-23
200.000
Chicago or New York
~~7X~K A & O Apr 1 1925
500.000
do
do
&
J July 1 1925
254,200
7X g J
100
Emerson McMillin and associates,
V. 72, p. 724, 871, 987: V. 73. p. 235. and V. 75, p. 343.
Owns practically
all of the stock of the below-noted companies:
Securities issued—
Stock.
Bonds.
Milwaukee Gas Light Co
—$5,000,000 $8,697,000 V. 74, p. 482
Grand Rapids (Mich.) Gas Light Co. 2,400.000
1.575,000 V 64, p. 662
Madison (Wis.) Gas A Eleo. Co
400,000
863.500V
St. Joseph (Mo.) Gas Co
f.000.000 1,000,000See page 189
X%
Ju'y. 1 1921 IX
Jne 30-21 1 X% Checks mailed
Jne30 1921 IX Checks mailed
Apr 1
F
3,500.000
&c
100
1921
do
do
May2 21.IX%
New York
May 1 1925
S Sept 30
8 Mar 30
M
are
Checks mailed
See text
JP*
&
M
5 ?
4
3.719,200
2,200.000
6,270.200
100
CO.—ORGANIZATION.—Incor¬
AMERICAN LIGHT & TRACTION
porated In New Jersey May 13 1901 by
311,00"
8.705.400
1O0
100
100
-
Q-j"
1920
in
4.995.662
1.498,8'KJ See text
do
6.328.800
5 g
64,000
25
1911
1916
'
3.858.6(H)
100
Nxxk
gcall 105
1,000
1889
1904
"
Dividends
Q—J
25.000.000 7 in 1920
A
Sc
O Apr 1 1929
6 g
432,000
M
Se
9 Mar 1 1924
4 g
1.500.000
See text
new
new
51. 700 sh
Apr 1 1921 IX
3.841,230 See text
10(>
Collateral trust mortgage
7% Serial gold notes
Collateral gold notes, series A, red 100
do
do
Series B red 100
&c
100
American
Q
text
6
Q—F
14,236.200
M &
N
6 tS
6.000,000
text
16.750.000 See
16.750.000 7 in 1920
Q—J
25.000.000 6 in 1920 Q -M 31
100
100
1920
and
Payable
Places Where Interest
Last Dividend
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations,
Net
[Vol. 112.
INDUSTRIAL STOCKS AND BONDS
146
19171
.
-----
$1,966,359 $486,979
1,684,987
364,142
1 622,177
558,239
Trust Co. of N. Y.,
to May 1 1926; there¬
less each year to ma¬
Pf. Divs. Com.Divs. Balance,
(6%).
(4%).
Surplus.
Cr.$293,250 $221,073 $348,216 $210,940
Cr.283,831 219,402 348,216
80,355
Cr.43,688 216,971 336,827
48,219
INDUSTRIAL
MAY, 1921.]
147
STOCKS AND BONDS
1
MISCELLANEOUS
Par
Value
$100
$20.000,000
$20,000,000 auth
N.xc»&r*
American Public Utilities Co—Common
Pref (a & d) 6% cum red 105
First lien gold bonds red 105
Bonds (sec
by coll; V 102,p 1164) $3,500,000
Amount
Date
Bonds
COMPANIES
&c., see notes on page 6]
[For abbreviations,
100
1912
1916
calll02H Kx.c
500 &c
500
25
lou
American Railway Express Co—-See text
American Rolling Mill—-Common stock $20,000,000--
25
100
$516,000
Deb pref (a & d) stock 7% cum $20,000,000 call 110__
American Safety Razor Corp—Stock auth $20,000,000—
Amer Ship & Commerce Corp—Stk auth 1,500,000 shares.
10-yr s f convertible notes $2,123,600 auth red 102—G.c*
100
25
None
1920
100-1000
AMERICAN PUBLIC
1919-20.
earns..$6,051,136
Net income._$l,808,975
Interest, &c__$l,932,491
June 30 Yrs.
W. Burcharcl, H. II,
CO.—(V. 112, p. 260.)
From Apr. 1918 to Apr. 1919 the quarterly dividends of 1H% on the
pref. stock were paid, owing to war conditions In 6% 5-year scrip.
See
V. 106, p. 1346; V
107, p. 1000, 2378.
Dividends suspended in July 1919
pending application for higher rates.
V. 109, p. 174.
Mich.—(V. 110, p.
sg
16.073,775 See text
6
242,600
7
6,757,400
20.000.000
New
756,858
10
1,980,000
1920 voted to reduce
value of the common stock from $100 to $25, four shares of new
to be issued and exchanged for each share of old common stock.
Stockholders (both pref. and com.) of record Mar. 5 1920 were offered the
privilege of subscribing to new common stock ($25 par) at $62 50 per share
to the extent of 10% of holdings.
the par
common
LATE DIVS.—
'15. *16.'17. '18. '19.
10 yrly. 11H
16
16
13
12
12
10 stock lOstk. __
__
50stk. 4 bds.
1910-11. 1912-13. 1914.
Common, cash___ 10 yrly.
Extra, stock. &c_
'20-'21
see
text
Liberty bonds; in Mar. 1919 an extra 4%
to 4& % Liberty bonds; in Mar. 1920 an extra of 4% in cash.
June 1920 to
June 1921 paid $1 (4%) quar. on the new $25 par value stock.
In Feb.
1918 paid extra 4%
Cal.Year
11 Mos.to
—Years ending Jan
31—
1917-18.
$4,186,079
$3,036,247 $2,656,213 $3,261,871
Pref. dividends (7%)
210,000
210,000
210,000
210,000
Common dividends.(19%)2,516,235(16)1964,544(12)1473,408(12) 1473,408
do
in Liberty bonds.
(4)491,136
(4)491,136
1920
Earnings—
Net profits.
—
1918-19.
.
$1,459,844
surplus..$10,696,686
Balance, surplus
Profit and loss,
Dec 31 '19.
$861,703
$7,763,466
$481,669
$6,901,763
$1,087,327
$6,420,493
paid a 50% dividend in stock (aggregating $4,092,«»
the common stock, out of accumulated surplus.—V. 110, p. 169.
In 1918 there was also
800)
on
Pres., C. M Woolley; V -P. & Treas., Wm. H. Hill; Sec., Rollaud J.
Office,
816 South Michigan Ave.. Chicago.—(V.
112, p.
Hamilton.
935, 1146, 1513.)
June 22
control of rail¬
conducting the
AMERICAN RAILWAY EXPRESS CO.—Incorp. In Delaware
1918, to act from July 1 1918 during the period of Federal
roads as the Agent of the Director-General of Railroads in
business of the country.
express
The property devoted to the express business includes approximately
20,000 motor and horse vehicles.
106. p. 2346, 2452; V. 107, p. 1580.
As to increase in rates see V. 107, p. 84, 183, 1194, 2010.
Increased rates
1919, Sept. 1 1920 and Oct.
Ill, p. 694, 794, 898, 1338.
Wage increase,
Govt, control terminated Mar. 1 1920. V. 109, p. 2405.
took effect in July 1918 and again Jan. 1
V. 107, p. 2065; V.
694.
p.
13 1920.
V. Ill,
1920 approved the permanent consoli¬
business and properties of the American,
The I.-S. C. Commission in Dec.
dation
of the
Adams,
transportation
Fargo and
Wells
Express Co.
V. Ill,
p.
Southern Express cos. into the
American Ry.
2522.
1920 authorized the company to enter
contracts with the railroads.
V. 112, p. 64, 565.
The I.-S. C. Commission in Dec.
into
new
for cash.
V. 106, p. 2453.
During the period of Federal control, from July 1 1918 to Feb. 29 1920
inclusive, the Director-General received 5014% of gross transportation
earnings, but this resulted, after paying operating expenses, taxes, &c., in
a deficit which was met by the United States
RR. Administration.
The
same rate was paid to individual carriers during the Federal guaranty period
March 1 to Aug. 31 1920 incl.
The resulting deficit is guaranteed by the
Transportation Act of 1920.
The express company is conducting its express
operations subsequent to Aug. 31 1920 under contracts with individual
carriers on an entirely new basis.
,
April 1921 paid a dividend of $2 per
share on its $34,400,000 capital stock for the last four months of 1920,
and one of $1 50 per share on the stock for the first three months of 1921.
DIVIDENDS.—The company in
V.
112,
p.
1743.
OFFICERS.—Pres.,
George O. Taylor; Chairman, B. D. Caldwell.
operations, traffic and accounting, with
New York; and F. S. Ilolbrook, Vice-Pres. & Treas.
Seven Vice-Presidents in charge of
F. P. Small, Secretary,
New York.
DIRECTORS.—B.
Hayden, W.
D. Caldwell
(Chairman), G. C.
1285,
1401,
Taylor.
M. Barrett, C. A. Peabody, H. W. De Forest,
J. Horace Harding, J. S. Alexander, C. D. Norton, J. G.
H. Wiggin.
General offices, 65 Broadway, N. Y.—(V.
1743 ,
2086.)
Charles
M.L.Schlff,
Milburn, Albert
112, p. 64, 565,
•
AMERICAN ROLLING MILL CO.—ORGANIZATION.—Originally In¬
corp. in N. J. in 1899; in 1917 consolidated with Columbus Iron & Steel,
per plan in V. 104, p. 1900, under laws of Ohio with present name; makes
chiefly high grade sheets and plates.
Its properties include (V. 109, p.
1081): (a) Middletown. O., 12. open-hearth furnaces, blooming and bar
mill, sheet mills and factories; (b) at Columbus, O., 2 large blast furnaces;
are
Payable
Am Exch Nat Bank, N Y
1 '14
See text
do
do
Central Tr Co of 111, Chic
Apr 1 1936
Logan Trust Co. Phila
Grand Rapids, Mich
Apr 1 1923
Jne 30 19214% Ofl 816 So Mich Ave,! hie
do
do
May 16 19211M
Dec
1 1942
Check
See text
Apr 15 '21 1H % Check
Apr 15 1921 1% Check
F & A 15 Aug 15 1930
See text
Q-F
Q—F
May 2
'21
Cleveland, Ohio
do
1%
(c) at Zanesville, O., sheet mills; (d) controls all its raw material and is the
in fee of coal mines and coke ovens in Fayette County, W. Va.. and
owner
quarries in Franklin County, O.; one-third owner in the Ports¬
(O.) Solvay Coke Co. and in iron ore properties in Michigan and Min¬
limestone
mouth
nesota, and has substantial interests in steamship lines on the Great Lakes.
In June 1920 the company acquired valuable leases on coal lands in Boone
County, W. Va.
Additional finishing capacity, provided for by the issue
new 7% deb. pref. in Sept. 1919, has been completed.
CAPITAL STOCK.—Common stock outstanding Sept. 30 1920 was
$10,402,500, which was increased by $2,468,750 in October, the amount
subscribed as a result of rights offered to stockholders Sept. 1919; $3,202,500
was issued to stockholders Nov. 15 1920 as
a stock
dividend; outstand¬
ing in May 1921. $16.855.675.
All but $156 600 of the 6% preferred has
been exchanged for 7% deb. prof, and the authorized 6% pref. has been
reduced from $1,500,000 to $516,000.
DIVIDENDS.—Dividends on the common stock
have been
paid
as
extra dividends of
of the present company
incl.. 2% quar.;
follows: Oct. 15 1917 to Apr. 15 1921
3% paid Oct. 1917, Jan. 15 and April
15 1918 and 1%
thereafter to and including Jan. 15 1921.
Stock dividends of
1 1919 and Jan. 10 1920.
A stock divi¬
25% was paid Nov. 15 1920.
each quarter
REPORT.-—For cal.
year
Net earnings after deprec.,
1920:
&c., $3,-
754,490; other income, $402,143; provision for Fed. taxes, $719,007; miscel.
deductions, $92,759; dividends, $1,907,768; bal., sur.. $1,437,099.
Pres., G. M. Verity, Middletown, Ohio.—(V. 112, p. 260. 1520, 1869.)
AMERICAN SAFETY RAZOR
CORP.—ORGANIZATION.—Incorp.
20 1919 in Virginia as a consolidation of Gem Safety Razor
Corp., American Safety Razor Co., Inc., Kampfe Bros., makers of the
"Gem," "Ever-Ready," and "Star" safety razors.
Also acquired a majority
of the stock of Jay & Johnson Box Corp.
The American Safety Razor
about Sept.
Export Corp. was formed in Delaware Oct. 21 1919 with a capital of 400,000
shares, no par value, and acquired all the foreign rights, trade-marks, &c.,
of the American Safety Razor Corp. in the foreign countries where subsidi¬
aries are to be established.
The Virginia company will own the entire
capital stock of the Export Corp.
The American Safetee Soap Corp., a
subsidiary, was organized in Dec. 1919.
See V. 109, p. 1181, 1611, 2441.
British-American Safety Razor Co., Ltd., V. Ill, p. 2425, 2524.
CAP.
STOCK.—Auth. and outstanding, $20,000,000; par
000 of the outstanding stock is
held in
a
$25 ($7,500,-
voting trust expiring Sept. 22
1924.
pref. stock or bonds.
No.
L. Storm; Pres.,
Treas., Julius B. de Mesquita.
OFFICERS.—Chairman of Board & Vice-Pros., George
Joseph Kauffman; Sec.. Milton Dammann;
—(v. 112, p. 654.)
AMERICAN SEWER PIPE CO.—Name changed In Aug.
Co.—V. 109, p. 478, 599.
1919 to Amer¬
ican Vitrified Products
AMERICAN SHIP & COMMERCE CORP.—ORGANIZATION.—In¬
corporated in Delaware July 18 1919 as a holding company, principally for
steamship, shipbuilding and allied companies and to engage in commerce
and industry.
Owns $11,103,000 capital stock (v. t. c.), total authorized,
$20,000,000, of Wm. Cramp Sons Ship & Engine Building Co. (see statement
above) and 131,487 shares, no par value, of American Ship & Commerce
Navigation Corp. (V. 109, p. 372).
The latter company was Inoorp. in
New York Aug. 21 1919 with an authorized capital of 40,000 shares Class
"A" stock, no par value, and 150,000 shares Class "B" stock, no par value,
and owns 11 ocean steamships of 86,025 d. w. tons.
Other stocks owned:
United Amer. Lines, Inc., 250 shares; Thirty-nine Broadway Corp., 3,800
shares; Federal Steel Fdry. Co., 1,975 shares pref. and 2,418 shares com.;
De La Vergne Machine Co.,
15,000 shares; Shawmut Steamship Co.,
12$ 315' shcirGs
Acquisition of block of stock by W. A. Ilarriman & Co., V. 110, p. 2489.
Amalgamation of steamship companies, &c., V. Ill, p. 591.
Contract with
Hamburg-American Line, V. Ill, p. 794, 1474.
Dispute between Harriman interests and Kerr Steamship Co., V.
Ill, p. 1085, 1185, 1280.
In Oct. 1920 it was planned to merge the operations of the owned and
controlled steamships in a single subsidiary, the United American Lines,
Inc.
V.
Ill, p. 1663.
u
,
_
NOTES.—The 10-year notes due Aug. 15 1930 are convertible at any
stock at the rate of 3 shares of stock for each $100 of notes.
time into
V.
STOCK.—The total auth. cap. stpek is $40,000,000. of which $34,642,000
has been issued to pay for the physical property purchased and also to
furnish cash working capital.
No other capital stock will be issued except
at par
Q—J 15
Q—J 15
Q—J 15
7,600,000 16inl920
7,900.000 7 in 1920
dend of
V. 68. p. 329; V. 80. p. 2346;
CAPITAL STOCK.—The shareholders on Mar. 3
Dividends
5% were paid Feb. 1 1918, Feb.
N. J. Feb. 10 1899.
RADIATOR CO.—Incorporated in
V. 90. p. 374,629.
AMERICAN
July
Places Where Interest and
of the
UTILITIES CO.—Report. V. Ill, p. I0S0.
1918-19.
1919-20.
1918-19.
$4,643,318 Pref. divs.,
$1,542,723
year
(4J^)$183,588
$1,647,540 Balance, def__ $123,516
$288,404
Managed by Kelsey, Brewer & Co., Grand Rapids,
1972; V. Ill, p. 1080.)
Maturity
6
Q—J
J
&
D
6 g
456,300
A
&
O
2,500.000
A
&
O
310,068
text
Q—M
13,806,225 See
3.000.000 7 In 1920 Q—F 15
100
Crowed, P.A. Farrar. S.Z. Mitchell, P. G. Sykes, P. O Walcott, Henry H
Wehrhane, H. P. Wright, A. S. Grenier, C. E. Groesbeck.
Officers:
O. E. Groesbeck, Pres.; William Reiser, Treas.; and E. P. Summerson, Sec.
N. Y. office, 71 B'way.—(V. 112, p. 2086, 2193.)
Gross
Dividend
and
$2,933,500
4,268.200
100
Shipbuilding—atock common $15,000.000
Preferred (a & d) 7% non-cumulative $15,000,000
American
AMERICAN PUBLIC SERVICE
Last
'
Pref stock 6%
DIRECTORS.—E. P. Summorson. R. E. Breed. A.
&c
1918
Scrip for dividends
American Radiator Co—Common stock $22,000,000
Preferred stock (not, as to assets) 7% cumulative $3,000,000
When
Payable
.S3
Outstanding
112,
p.
1027.
EARNINGS.—Combined statement of earnings and
income (including
Corp.) for the cal. year 1919. shows: Gross profits from
steamships, 3,056,774; less provision for depreciation on steamships,
$404,831 .and salaries, office rent, supplies and general expenses, $95,896;
net
income, $2,556,047; miscellaneous income, $70,988;
total Income,
$2,627,035; Federal Income and profits taxes, $763,600; surplus, $1,863,435.
For 9 mos. ended Sept. 30 1920.total earnings were $1,966,917; expenses,
$353,034; profits, $1,613,833.
V. 112, p. 1027.
Kerr Navigation
_____
Robinson; Pres., W. A. Harriman;
V.-Pres., J. K. Trimble and H. F. Kerr; Sec., H. S. McKee; Treas., A. W.
LishaAva.—(V. 112, p. 374, 654, 1027, 1285, 1744.)
OFFICERS.—Chairman, R. H. M.
N. J. March Iff 189lb
344. 1014; V. 73. p. 390: V. 83, p. 1172.
1543; V. 96. p. 489.
V. 103. p. 1890;
V. 104. p. 367.
Full statement to N. Y. Stock Exchange in Oct. 1917 as
to properties, finances, &c., on listing of stock, was given In V. 105. p. 1716.
Annual report for 1919-20 said: "During the year 63 ocean cargo ships of
225.900 gross tons carrying capacity were completed and delivered to the
U. S. Shipping Board Emergency Fleet Corporation.
In order to keep the
three construction plants at Cleveland, Lorain and Detroit in operation,
AMERICAN SHIPBUILDING CO.—Incorp. in
V. 68. p. 770; V. 70. p. 896; V. 71, p.
Decision, V. 94, p. 1765: V. 95. p.
the construction
of four bulk cargo lake type and ten general cargo ocean
type steamers was authorized for company account.
Six of the ocean type
ships are practically completed, and the others are expected to be completed
The prospects for obtaining buyers for these
There is at the present time practically no
and size of ships this company is able to build
for deep-sea service.
The inquiries for ships for foreign account, while
limited in number, are still persistent, but until the foreign exchange situa¬
tion is nearer normal, the sale of ships to foreign interests will necessarily
be restricted.
Lake vessel owners are not inclined to contract for tonnage
at the prices builders are obliged to quote for 1921 delivery,although a limi¬
ted number of orders may be released for replacements or to meet urgent
needs.
The prospects for repairs, and replacement work on lake vessels
are good."
within the next four months.
ships at fair prices appear good.
American market for the type
148
Date
Par
Amount
Rate
When
Value
Outstanding
%
Payable
and Maturity
American Smelters Securities— 8tock held by public.
Preferred (as to div) "A" 6% cum red par $17,000,000.-Preferred "B" 5% cumulative guaranteed $30,000,000-i American Smelting & Refining—Common stock $65,000,000
$100
2,848,200
60,998,000
50,000,000
31,553,200
1,021,500
11,000,000
3.952,800
20,401,000
8,481,300
684,800
100
7% cumulative $50.000,000
1st M Ser A callable at par from Oct 1 '30— -Cec.*Ar*
1917
100 &c
Rosita C & C Co 8 F bonds (gu p & Int) red
1919
500 &C
$100_-xxxc*G
100
-
100
33 1-3
American
Steel
Foundries—Stock ($25,000,000 auth)
Pref(a&d)stock7%cum non-vot$25miJ call 110 1922 s.fd.1%
100
100
1908
Debentures $3,436,800 redeem able at par (text)
LATEST DIVS.
Oommoncash
('10. '11. '12. '13. *14. '15. '16. '17. '18. '19. 1920.
i 6
4
0
0
0
0
0
7M 12
16
See
15
--' text
Preferred..
I 7
7
7
7
IX
0
7
(IX Q-J)
In 1917, also 1% for Red Cross.
In cal. year 1919 paid each quarter on common beginning Feb. 1, 1 % %
and 2M % extra in cash.
Same amount paid quar. from Feb. 1920 to May
1921.
In 1917 also 1% for Red Cross.
do
Liberty bonds..
..
..
REPORT.—For year ending June 30 1920 in V.
1919-20.
Ill, p. 1306.
1918-19.
1917-18.
Total Income
$11,879,499 $21,659,951 $17,067,991
Deduct—General, &c., expenses
1,899,097
2,624,518
1,931,641
8tate, county and miscellaneous taxes
386,683
315,366
207,924
Federal taxes in
excess
of pre v. appr__
1,736,240
Prov. for amort. & demob, exp., &c_.
2,091,613
377.612
1,395,886
2,000,000
945,931
693.847
3,606,011
1,723,459
Spec, allow, for exc. profits taxes, &c_
7,000,000
4,000,000
Amort, of perm, assets to pre-war val.
2,949,511
147,815
Adjustment of Liberty bonds)
733,314
434,181
Common dividends (cash)
(16%) 1,216,000(135^)1045000 (11^)893000'
do
do
(Liberty bonds)
(10)760,000
(5)380,000
Preferred dividends (7%)
553,000
553,000
553,000
Depreciation
Maintenance and repairs
__
&c
June 1
1920
5 g
C!z
6 g
11inl920
—
6 in 1920
See
do
do
IX
1% 120 Broadway,New York
do
do
1921 1%
Central Trust Co, N Y
1947
Apr 1 1921
«o Mar 15 '21
5
4 In 1920
7 ID
Where Interest ana
Dividends are Payable
Apr 1 1921 IX 120 Broadway,New York
6
$9,451,800
100
100
Preferred stock (a & d)
American Snuff—(Stock common $11,000,000-New preferred (a & d* 6% non-eum $4,000,000
Places
Last Dividend
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, Ac., see notes on page 6]
.
[Vol. 112.
STOCKS AND BONDS
INDUSTKIAL
text
7
<
Apr
1
Nov 1
New York
1924
Apr 1 1921 3% Memphis, Tenn
do
do
Jan 3 '21 \X%
Apr 15 '21
2 X Checks mailed
do
do
Mar3l'21 1^%
Guaranty Trust Co. N Y
Feb 1 1923
1919.
1918.
$1,016,452
814,276
5,201,980
1,605,949
$1,305,934
1,252,356
5,439,631
1,616,109
1920.
Admin., &c., expenses
Taxes (incl. Federal taxes)
$1,478,637
979,459
4,465,228
1,592,835
Depreciation
Bond interest (S. & R. Co.)
Int. on RositaCo. & C. bonds
11,414
71,135
-
i,..-...
.....w
485,643
450,087
250.000
740,038
$571,536
$580,146
$582,555
150,601
Pensions, &c
Charges, profit and loss....
161,176
165,219
American Smelters Sec. Co.—
Preferred A dividend (6%)
Preferred B dividend (5%)..
American Smelt. A Ref. Co.—
Preferred dividend
$3,500,000
$3,500,000
(4%)2,439,920 (4)2,439,920(5X)3354890
$3,500,000
(7%)
Common dividend
$104,834
$12,721 df$1085,658
Surplus
Total profit and loss surplus Dec. 31 1920. $25,987,293.
DIRECTORS.—Edgar L. Newhouse, Chairman; Simon Guggenheim,
President; Daniel Guggenheim, H. M. Brush, Walter T. Page, W. S. McCornick, G. P. Bartholomew, Frank W. Hills (Compt.), Charles Earl,
Willard S. Morse, John N. Steele, Herbert W. York, John C. Emison
(Treas.), H. A. Prosser (V.-P.), R. W. Straus, William Loeb Jr. (V.-P.),
Whitley (V.-P.), F. H. Brownell (V.-P.), H. A- Guess (V.-P.),
H. de Saulles, Frank R, Raiff, E. B. Schley, Merrill P. Callaway,
Leary, Benj. Joy, F. T. Walker, Wilfred Shore, E. C. Jameson,
Lyman Candee.
Office, 120 B'way, N. Y.—(V. 112, p. 64, 164 , 254 , 260,
472. 654. 851, 1138. 1152. 1285. 1401. 1520. 1619. 1744, 1980.)
W.
C.
C. A.
Balance,
surplus
$1,226,294
Pres., M. E. Farr, Detroit.
$1,426,434
4,800,266
Office, Cleveland, Ohio.—(V. 112,
p.
1285.)
AMERICAN SMELTERS SECURITIES
CO.—ORGANIZATION.—
Incorporated March 31 1905 in New Jersey.
V. 89. p. 1662.
V. 80, p.
1730, 1915, 1973; V. 82. p. 694; V. 90. p. 1046; V. 93. p. 291; V. 91. p.
1327; V. 94. p. 854; V. 101, p. 529.
F.
J.
AMERICAN SNUFF CO.—Incorporated In N. J. on March 12 1900.
plan of disintegration of Am Tobacco Co. (V. 93, p. 1122-4), the
remaining were large modern grinding factories at Yorklyn, Del., and
Clarksviile, Tenn., and finishing works at Memphis, Tenn.
Since disin¬
tegration a new large and modern grinding plant has been erected at Mem¬
phis, Tenn., and the Yorklyn, Del., plant sold.
In May 1915 the auth,
stock was reduced.
V. 93, p. 280; V. 93. D. 1603; V. 100. p. 1439.
Under
assets
STOCK.—Pref. "A" is preferred over "B" only as to dividends.
There
Is set aside from income for retirement of "A" stock at par yearly on July 1
1%
pref. stock ser. "A" and a further sum equal to 6% on stock thereto¬
purchased; redeemed in 1914 to 1920 $1,426,900; In treasury Am. S. &
Co., Dec. 31 1920, $6,121,300; in hands of public, Dec. 31 1920,
$9,451,800.
See V. 100, p. 529; V. 94, p. 1628.
Pref. stock has no voting
power unless dividends for one year remain unpaid.
In Jan. 1917 the American Smelting & Refining Co. as owner of all the
on
fore
Ref.
$30,000,000 common stock and guarantor of the $30,000,000 jpreL "B"
stock, offered to give In exchange for pref. "B" its own 1st M. 5s of 1917
$ for $.
On Doc. 31 1920 $27,151,800 of the $30,000,000 had thus been
exchanged.
V. 105, p. 608; V. 104, p. 363.
In
stock
May 1917 the holders of the (uncalled) $16,256,400 Series A pref.
were
similarly offered the right to exchange for an equal par amount
of First Mtge. 5% bonds of the Refining Co. plus cash $7 50 per share.
On
Dec, 31 1920 $6,121,300 of the issue was held in treasury.
V. 105. p. 608.
DIVIDENDS.—On both claases of pref. stock in full to Apr.
6% on pref. "A," 5% on pref. "B" (now Q.-J.).
OFFICERS^—Pres., Simon Guggenheim: Sec., W. E. Merriss.
.
1
Office-
of mines In Mexico, see V.
108, p. 1159, 2243.
Am. Smelters' Securities
Co., above.
V. 80, p. 873; V. 91, p. 1329; V. 93, p. 291.
During 1919
purchased a substantial Interest in the Premier Mine, in British Columbia,
and took options on several properties in that section.
Also completed the
acquisition of over 90% of the Sabinas Coal Co.
V. 110, p. 1286.
Karl
Eiler's suit; proposed investigation by Mr, W, H. Taft; stockholders' in¬
vestigating committee; V. 112, p. 254, 1285, 1401.
The company, which had for many years marketed along with its own
copper the copper of other companies, whose product is treated in its re¬
fineries, announced that after Jan. 1 1921 this practice would be discon¬
tinued, and that hereafter it will sell only its own copper, just as it has here¬
tofore sold only its own lead, spelter, tin, silver,
gold and other metals.
V. Ill, p. 2523.
STOCK.—The common stock was Increased in 1916-17 from $50,000,000
to $60,998,000 In connection with the retirement of the
remaining $10.998,000 6% debentures of American Smelters Secur. Co., which see above.
DIVS.—
('07. '08. '09-'ll. '12. '13-'15. '16. '17-T8.
'19.
'20. 1921.
Common (%) \ 7 X 5
4 yly. 4 2-3 4 yly
4^6yly
4
4
text
Cora., extra., I
Julyl917 I.R.C.
Paid in 1921: Mar. 15. 1%; June 1921. div. passed.
V. 112, p. 1980.
dONDS.—In
Jan. 1917 the company arranged to make a
bond issue, limited in amount to the par amount of the full
and common shares! at any time outstanding, and Issuable
first mortgage
paid preferred
under suitable
restrictions for Improvements, additions, the acquisition of securities, &c.
The mortgage covers all the property of the Refining Co., all the $30,000,of the American Smelters Securities Co. (and all of its
and "B" stock surrendered) and the entire stock of Consol. Kansas City
Smelt. & Ref. Co., Ac.
V. 104, p. 363: V. 105, p. 608; V. 108. p. 880.
1
The initial $30,000,000 series
A" 5% bonds were offered In Jan. 1917
common stock
"A'
In exchange for the "B" stock of the Amer. Smelters Securities Co.,
$ for $.
These bonds like the "B" stock are subject to call on and after Oct. 1 1930,
all
or
the
part, at par and Int.
maximum
amount
1920.
Calendar Year—
Annual sinking fund beginning in 1918.1X%
bonds at any time issued.
In May 1917
of
holders of the Securities Co.'s total uncalled Series "A" pref. stock were
offered in exchange at par in Series "A" bonds, plus
714% cash.
In Dec.
Balance, surplus
$459,592
-
p.
Smelting, refining, &c
Mining properties
Other income (net).
Gross
income
1920.
Tenn.
2443, 2331» 2435) leaving most of the latter's $5,849,300 6% cum. pref.
In the hands of the public.
V. 108, p. 2435, 2626, 2631.
Formed
(practically entire stock owned), which
the American Autoparts Co. in 1919
is building a plant in Detroit for the
manufacture of automobile springs.
Works located at Chester, Franklin. Sharon and Pittsburgh, Pa.; Granite
City and East St. Louis, 111.; Indiana Harbor and Hammond, Ind., and
Alliance, Ohio.
STOCK —The stockholders voted June 12 1908 to reduce the
authorized
stock from $18,110,000 common and $19,540,000 pref. to $17,184,000 of one
class only.
V. 86. p. 170. 482. 605, 722, 796: V. 107, p. 1386, 2190.
The shareholders voted Apr. 22 1919 to authorize (1) an issue $25,000,000
^
non-voting pref. stock, and also (2) to change the par value of
the common shares from $100 to $33 1-3 by Increasing the number of
shares from 171,840 to 515,520.
V. 108. p. 106,2 1276.
On Mar. 18 1920
stockholders voted to increase the common stock to 750.000 shares.
The
7%
cum.
pref. is callable at 110 and divs. after 3 years: sinking fund equal to 1% of
Issue, will begin Dec. 31 1920.
No mortgage can be created without the
consent of 66 2-3% of this pref. stock.
V. 108, p. 2350.
In July and
August 1919 the first $8,481,300 was issued in payment for Griffin Wheel
Co.
stock.
BONDS, &c.—$344,000 par value of 4% debentures were retired during
reducing the amount outstanding to $ 381,800.
1920,
DIVS.
•
Com
*10.
—3X
'11.
*12.
2X
'13.
'14.
*15.
2
2
—
—
'16.
IX
'17.
6
*'18.
7
Pref.
'19.
614
3X
'20-21.
see
text
♦Also 2X% in Liberty bonds.
Initial dividend on pref. stock was
paid Sept. 30 1919: to Mar. 31 1921,
1 H% quar.
In 1920 (on com.), Jan., 2 3^%: Apr., 234%; on May 29 1920.
$2 a share payable in stock; July, 234%; Oct., 2M%; Dec. 31, 234% and
$4 a share in stock.
In 1921, Apr., 234%.
REPORT.—Year 1920, in V. 112, p. 1278; 3 mos„ in V. 112, p. 1980.
Gross
Net, after
Other
Tax Res., Dividends
Balance,
Calendar
1919.
1918
Inc.
$57,477
$86,725
$327,244
stock
Coke Co., dated Nov. 1 1919, see V. 109, p. 1799.
Guaranties $2,000,000 8% notes of Copper Export
V. 112, p. 654.
Association,
„
1?17.
AMERICAN STEEL FOUNDRIES.—ORGANIZATION.—Incorpor
ated in New Jersey on June 26 1902.
V. 79. p. 1463; V. 80, p. 224, 602
V. 83, p. 685,1575; V. 103, p. 495: V 101. p. 1373.
In July 1919 purchased
most of the $8,755,600 common stock of the Griffin Wheel Co. (V. 108,
Years.
Sales.
Deprec'n.
S
$
1921 (3 mos.)
550,476
1920
59,481,564 6,246,496
Income.
S
94,304
424,498
5,774,529 340,478
49,113,098 4,015,825 173,599
49,369,584 7,800,649 238,025
1917
1152, shows:
_
tfl.533,893 f$l ,504,645
237,168
237,168
1,210,000
1,210,000
t After deducting Federal and war excess profits taxes.
Pres., Martin J. Condon; Treas., M. E. Finch.
Office. Memphis,
—(V. 112, p. 851.)
1920 of the share capital of the Securities Co., there remained
in hands of public only $9,451,800 Ser. A and $2,848,200 Ser. B
pref. and
there were outstanding $31,553,200 Am. Smelt. & Ref. 1st M. 5s.
As to guaranteed 5-year 6% sinking fund gold bonds of Bosita Coal &
REPORT.—For 1920, in V. 112, p.
Calendar Years—
_
1918.
1919.
w
earnings
f$l,906,760 t$l,774,412
Pref. divs. (6%)
237,168
237,168
Common divs. (11 %)___
1,210,000
1,210,000
Net
AMERICAN SMELTING & REFINING CO.—ORGANIZATION. &o.Incorporated April 4 1899 under laws of New Jersey; V. 68, p. 668.
Own*and operates plants for the smelting of ores and the treatment of lead
bullion, copper bullion and copper matte In Utah, Montana. Colorado,
Nebraska, Illinois, New Jersey, Mexico and elsewhere.
The principal mer¬
chantable products are bar gold and silver, pig lead, electrolytic copper and
blue vitriol.
V. 106, p. 1457.
Plants rights of stock, &c.. V. 102, p. 1989;
V. 68, p. 1041: V. 84, p. 160: V. 88, p. 1059: V. 93, p. 471.
For status
of
REPORT.—Report for year ending Dec. 31 1920:
1921*
120 Broadway, N. Y.—(V. 112, p. 935, 1152.)
000
DIVS.f'09. '10. *11. *12. *13. *14. '15 to'17. *18. '19. '20.
1921.
%(19
20
20 12^12
9
12 yly.
10
12
11
see
(_.
4
.9
3
3
2)4
text
In 1921, Jan., 2%; Apr., 3%.
Also In Dec. 1911, 34 4-11% each In com. stock of Geo. W. Helme and
Weyman-Bruton companies (V 94. p. 280); in July 1913.10% in Amer. To¬
bacco Co. pref. stock and 4.54% of Amer. Cigar Co. pref. stock (V. 96. p.
1631).
In Oct. 1914, distributed P. Lorillard Co. and Liggett & Myers
Tob. pref. stock out of surplus, making .02204 6-11 and .03127 3-11 of a
ahare. respectively, on each share of common stock.
V. 99, p. 676.1676.
LATE
Common
do extra
Raid.
$
Ac.
%
126,5^)0
2,603,365
2,223,241
1,803.327
3,013,008
Surplus.
$
518,280
1,857,779
1,800,445.2,091,321
1,632,480
753,617
1,031,040 3,994,626
2,209,850
DIRECTORS.—Charles Miller, R. P. Lamont, F. E. Patterson, K. L.
1919.
1918.
$11,933,494 $11,569,384 $13,234,711
2,242,199
1,816,769
2,686,840
1,572,022
1,309,489
2,390,017
$15,747,715 $14,695,743 $18,311,567
Ames,
son,
W.
D.
Sargent,
Geo. B. Leighton, Max Pam
John M. Harri¬
Scott, R. H. Ripley.
President, Robert P.
E. F. Goltra, Geo. E.
Lamont; First Vice-Pres., Geo. E. Scott: Second VIce-Pres., R. H. Ripley
3d V.-P., Warren J. Lynch; 4th V.-P., J. O. Davis; Treas. & Sec., F. E.
Patterson; Asst. Sec. & Treas., W. Epple; Compt.. Thos. Drever; Gen.
Counsel. Max Pam
Office, Chicago.—(V. 112,
p.
654, 1027,1278. 1980.)
MAT, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
{For abbreviations, dec., see notes on page 6]
American Stores Co—Stock
common
STOCKS AND
Date
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
150,000 shares
None I42,240shrs See
First pref (a & d) 7% conv call 115 $7.000,000
2d pref 7% conv stock $2,000,000
Sugar Refining—Comqpon stock
$45,000,000
100
.
100
__
100
Pref stock (pref. A. & D.) $2,000,000 7% cum call 110
100
1920
100
American Telegraph & Cable—Stock 5% rental
American Telephone & Telegraph—Stock $750.000,000
Collateral
100
1899
trust
1906
no
1913
1916
1,000
1,000 &e
100 &c
100
1902
&c
1919
1919
AMERICAN
March
1917.
29
STORES CO —ORGANIZATION.—Incorp. In
Dels.
Owns 34,700 shares of the 35,000 shares of common
Co.,
Ohilds Grocery Co. and George M. Dunlap Co.
Weekly baking capacity
about 2,000,000 loaves and 25 tons of cake.
Operates a chain of over
1,200
eals in food
Socery stores products, coffees, groceries, meats, &c.
in Pennsylvania, New Jersey, Delaware and Maryland,
STOCK.—The pref. stock Is convertible prior to Jan. 1 1927 into common
stock, 1 1-3 shares of common for one of pref. Divs., Q.-J. 81nking fund,
2% Der ann. from July 1 1918.
Net tangible assets must be 125% of pref.;
net quick assets, 75%.
Default gives 1st pref. voting power till default is
cured.
The $3,418,300 1st pref. in reserve Is only issuable under restric¬
tions.
There
are
neither
bonds
nor
mortgages
pref. issues. (V. 104.
1705, 2013.
All classes of stock listed
on
p.
1491,
in
Philadelphia Stock Exchange
June 1919. V. 103, p. 2435.
Initial dividends of 14% paid on tne 1st and
and 2d pref. stocks July 6 1917.
On 1st pref., Oct. 1 1917, 1 %%. On 1st
and 2d pref., Jan. 2 1918 to July 1918, 1 % % each (quar.) and in Oct.
paid
\%% on 1st pref.
Jan. 2 1919. 1^% on 1st and 2d pref.
April 1 1919,
1H% on 1st pref.; July 1919 to July 1921, 1%% on 1st and 2a pref.
V.
104, p. 2554.
Initial div. of $1 on common stock paid April 1 1920; same
amount paid quar. to July 1921.
REPORT.—For calendar year 1920 shows:
1920
sales
$103,059,303
1919
Gross
Cost goods sold
Gross profit
Expenses
.$15,617,385 $13,022,995 $10,296,695
12,453,067
9,109,920
7,695,510
Net profit.
Surplus.
$3,164,318
914,864
999,263
$3,913,075
1,453,458
629,173
$2,601,185
1,347,560
917,934
$1,250,191
—
Taxes and other deductions
Preferred dividends and sinking fund.
$1,830,444
$535,691
OFFICERS.—Pres., Samuel Robinson; Sec. & Asst. Treas., E. J.
Flanigan; Treas., Wm. M. Robinson.
Directors.—Samuel M. Clement Jr.,
Joseph Gilfillan, Samuel Robinson, Robert H. Crawford, Wm. M. Crowe,
George M. Dunlap, John Eagleson. J. K. Trimble, Jas. K. Robinson, Wm.
Park and F. W. Bacon, Philadelphia.—(V. 112,
p. 164, 374, 1146.
AMERICAN STRAWBOARD CO.—(V. Ill, p. 992.)
AMERICAN
SUOAR REFINING
CO.—ORGANIZATION.—Orga¬
For plan. V. 51, p. 609 (see also V. 91,
1571).
Holds (see description V. 90, p. 164; V. 88. p. 943; V. 104, p.
2454) by direct ownership, and ownership of subsidiary companies, re¬
fineries at Boston, Brooklyn. Jersey City, Chalmette, two refineries at
Philadelphia, one of which it uses as a reserve refinery.
New refinery now
being erected at Baltimore.
V. 109, p. 2358; V. 110, p. 2569.
The com¬
pany's refinery in New Orleans, formerly held in reserve, is now dismantled.
In Nov 1919 acquired all the capital stock of a Cuban
corporation, Central
Cunaqua, a raw sugar property in Camaguey Province, Cuba.
V. 109, p.
nized in New Jersey in Jan. 1891.
p.
1988; V. 112, p. 1020.
The
company's investments on Dec 31 1920 were carried at $44,655,551,
belo\y actual value
They include:
Sug. Cos. (minority)— Par val.
Beet Sug. Co. (minority)— Par val.
Continental Sugar Co
$935,400 Michigan Sug. Co., pref.-$2,043.800
Gt. West. Sugar Co., pref.5,159,200
Common (V. 106, p. 933)1,757,400
Common (V. 106, p. 825)3,649,600 Spreckels Sugar Co
.2,500,000
Iowa Sugar Co
416,500
Total, par
$16,461,900
Other investment securities included, Dec. 31 1920, are: National
Refg.
Co. (par $2,428,900 out of $10,000,000); sundry properties, including West
Street building.
which is said to be much
Beet
Settlement of Louisiana trust litigation in
April 1917 by payment of
about $700,000.
See V. 104, p. 1492; V. 105, p. 1421; V. 106. p. 1225.
Gther litigation, V. 104, p. 561, 1041.
Bills payable Dec. 31 1920. $27,150,000.
DIVS.—
do
In
(1891. 1892. 1893.
1894. to 1899. 1900.1901 to 1920.
'21.
y'ly (3 Q-J)
64
7 y'ly
text
July '18 to Oct '20, 3% (H % quar.)
Jan., April and July, 1921 paid l%% on common, the extra div. being
%\
Common
extra. |
omitted.
8
__
9
22
..
12
...
V. Ill, p. 1951.
REPORT.—For year end. Dec. 31 1920, in V. 112, p. 1020,
Net
Net
DepreInsurance,
'
showed:
Cat.
maturity at the
decreasing rate of 1% per annum.
The notes were offered to pref. and
common stockholders of record May 24 1920 for
subscription at 98 and int.
The holder of each share of stock was entitled to subscribe to
$40, face value,
of notes.
Compare V. 110, p. 2194, 2489.
Divs.—Initial div. on common stock, 1%, Aug. 15 1917; Nov. 1
1917,
14%; Feb. 1 1918, 1 %%', May 1918, 2%; Aug. 1918 to Feb. 1921, 24%
May 1921, 2%.
quar.;
NOTES, &c.—New convertible notes,
Balance,
Profits.
Income.
ciation.
Impts.,&c. Dividends.
Surplus.
$■$$$$
$
1920._ 1,802.438
8,822,001 2,000,000 10,195,812 7,312,470 deflO,686,280
1919.-10,283,082 15,250,619 2,000.000 3,831,945 7,649,969
1,768,706
1918-. 6,661,684 12,587,487 2,000,000
1,121,906
2,153,111 7,312,470
1917.-10,055,291 14,212,787 2,000.000 4,000,000 6,299.972
1,912,815
Total surplus Dec. 31 1920, $12,465,858.
DIRECTORS.—Earl D. Babst (Pres.), Charles Francis Adams, George
H. Frazier, Albert H. Wiggin, Geo. F. Baker Jr., James H. Douglas,
Samuel Carr, Philip Stockton, Samuel McRoberts, Edwjn S. Marston,
Charles
H.
Allen
and
Newcomb
Carlton.
Other
Officers.—V.-Pres.,
Robt. M. Parker, W. Edward Foster, Ralph S. Stubbs, Edw. Y. Crossmore;
Sec., Edwin T. Gibson; Treas., Arthur B. Woollam; Comp., Henry EdgCommittee: Earl D. Babst, George
Marston, Samuel McRoberts, Albert H. Wiggin
St.—(V. 112, p. 164, 747, 1020, 1146, 1401.)
II. Frazier, Edwin S.
N. Y. office, 117 Wall
AMERICAN SUMATRA TOBACCO CO.—ORGANIZATION.—Incor¬
Feb. 12 1910 and Ls engaged in the operation of tobacco
plantations, raising, curing, sorting and merchandising of cigar
wrapper
At organ, acquired the facilities and business in Gadsden County
Fla., and Decatur County, Ga., of eight established tobacco plantation cos.
tobacco.
Has since
purchased Connecticut property; also A. Cohn & Co. V. 108,
2023. Sumatra Sales Corp., see V. 106. p. 1579.
In Oct. 1919 acquired
the Griffin Tobacco Co. of Hartford and New York, the next largest grower
of tobacco in Connecticut and a large exporter of American cigar leaf
tobacco.
V. 109, p. 1462.
STOCK, &c.—For changes in capital stock prior to June 1920, see "Ry.
p.
1920.
The stockholders voted June 1
$15,000,000
to
$25,000,000.
'
1920 to increase the
The
increase of the common stock by
directors
common
authorized,
stock from
subject to the
an Issue of $6,564,000
Convertible from Oct. 1
the stockholders,
Five-Year 74% Sinking Fund Conv. gold notes.
under "Stock" above.
income,
$201,482; net operating profit, $3,960,973; interest, discount, etc., $402,449;
depreciation, $173,319; provision for Federal and State income taxes,
$804,173; net income, $2,581,031.
For 6 mos. ending Jan. 31 1921: Gross
profits, $2,145,167; other income, $209,045; oper. exp., $386,731; int., &c.,
$432,234; net income before deprec. and Fed. taxes, $1,535,247.
V. 112,
p. 851.
•
OFFICERS.—Julius Lichtenstein, Chairman & Pres.; V-Pres., Wm. A.
Tucker, Fred. B. Griffin; V.-P. & Sec., Frank M. Arguimbau; Treas.,
Stephen N. Bond.—(V. 112, p. 851, 1619.)
AMERICAN TELEORAPH& CABLE.—Owns two cables between Nova
Leased until 1932 to Western Union.—V. 106,p.710.
Scotia and England.
AMERICAN TELEPHONE & TELEGRAPH CO.—ORGANIZATION.—
a large Interest, generally a majority Interest. In the capital stock of
Owns
the leading local companies
operating under the Bell patents in the U. S.
V. 107, p. 2100; V. 88, p. 1554; also owns the system of long-distance tele¬
phone lines by which they are united.
Pupln patents, V. 72. p. 677; V. 76,
p. 332, 690; V. 77, p. 39;
V. 92, p. 790, 1312.
The major operating com¬
panies. greatly reduced in number of late years by consolidation, have had
their shares largely exchanged for stock of Am. T. & T. Co.
V. 97, p. 440
The chief subsidiaries are: Illinois Bell Tel. Co., Cumberland Tel. & Tel.
Co., New'York Tel. Co., Ohio Bell Tel. Co., Mountain States Tel. & Tel.
Co
Bell Tel Co. of Pa., Indiana Bell Tel. Co., Ches. & Pot Tel Co.,
Southwestern Bell Tel. Co., Wisconsin Telep, Co., Northwestern Bell Tel
Co., Cincinnati & Sub. Bell Tel. Co., New
England Tel. & Tel. Co..
Michigan State Tel & Tel. Co., Southern Bell Tel. & Tel. and Pacific
Tel. & Tel. Co.
V. 112, p. 1033.
Also owns 98% of the'stock of Western Eloctric Co., Inc., New York,
,
manufacturer of electric and telephone supplies.
In Sept. 1919 offered $100
in its own stock for each $114 28 of the minority stock of Mountain States
Tel. & Tel. Co. or for $100 in stock
and $14 28 in cash.
V. 109, p. 478.
Automatic switchboards, extension of toll cable system, and Key WestHavana telephone cables.
See V. 110, p. 979.
In Mar. 1920 formed the
205 Broadway Corp. as a holding company to handle the real estate of the
A. T. & T. Co.
Has a contract with Gen. Elec. Co. for an exchange of
licenses,
&c.
Purchase of
V. Ill, p. 899.
minority Interest in Radio Corp. of Amer., V. Ill,
p.
898.^ j
BELL SYSTEM.—On
Dec. 31 1920 there were 12,601,935 telephones
connected with the Bell System, which owned 8,333,979 and connected with
4,267,956 owned by connecting companies and rural associations.
The capital obligations in the hands of the public Dec. 31 1920 were
$1,107,417,623, while the book costs of the net assets devoted to earning a
return on these out tanding securities amounted to over $1,551,000,000.
The surplus and reserve aggregate $444,039,203
Net plant additions dur¬
ing 20 years to Dec. 31 1920, $1,182,280,000.
Govt. Control (July 31
1918 to July 31 1919).—On July 31 1918 the U. S.
Govt, as a war measure assumed control of the lines of this company and its
subsidiaries and also of the telegraph lines of the country for the duration
of the war.
Annual compensation fixed at $65,148,641. V. 108, p. 1068.
V, 107, p.
2439.
p.
231, 350, 504. Reduced rates effective Jan. 21 1919. V. 107,
Rate decision in Aprli 1919.
V. 108, p. 1513, 2331, 2435.
Application for increased rates, V. Ill, p. 850.
The Government on July 31 1919 returned the telephone and telegraph
properties to their owners. V. 108, p. 2124, 2331, 2435; V. 109, p. 372, 478.
Status of this
co.
at that time and
subsequently, V. 109,
p.
272,1275, 1528.
STOCK.—The authorized capital stock was increased on April 1 1920
from $500,000,000 to $750,000,000.
As to convertible bonds of 1906 and
1913,
see
below, and V. 101,
p.
1630; V. 92, p. 47, 166. 231, 798, 1192.
the authorized capital stock there was sufficient
bonds.
reserved
to cover
Of
conversion
of convertible
Each stockholder of record Dec. 11
$100
1916
was
entitled to subscribe at par,
share, for 10% new stock in all, say, $39,550,600 (V. 108, p. 1067.)
1128; V. 103. p. 1982; V. 105. p. 1710.
Stockholders of record May 20 1921 were entitled to subscribe for new
stock in the proportion of one share of new stock for each five shares held
(about $90,000,000).
Right to subscribe expires July 20 1921.
V. 112,
p. 2086.
V.
a
106, p.
,
DIVIDENDS.—July 1900 to July 1906, incl.. 7H% per annum; Oct..
In July 1921 paid 24% quar.,
increasing the annual rate to 9%.
V. 112, p. 2193.
'
;
1906 to April 1921, 8% per annum (Q.-J.).
CONVERTIBLE
BONDS
OF
1918—An
issue
of
$50,000,000'*6%
7-year convertible bonds was offered to the stockholders in July 1918
for subscription
at 94
and interest, in the
proportion
of
$100 In
bonds for each 10 shares held and-or any fraction of 10 shares.
These
bonds have
issue
p.
porated in Ga.
& Ind. Section" for Nov.
see
REPORT.—For year ending July 31 1920 in V. Ill, p. 1663.
Year ended July 31 1920: Gross profit on sales, $5,201,282; other
Yr.
cumbe.
Executive
i
.
1918
$76,401,899 $62,315,465
63,378,895
52,018,770
87,441,918
Payable
are
1920 to Dec. 31 1921 into common stock on the basis of
9K shares of stock for
each $1,000 of notes, and thereafter on the basis of
9 shares of stock for
each $1,000 of notes.
A sinking fund of 5% per annum
of the greatest
amount of notes at any time
outstanding is provided for.
Redeemable
at 105 and int. during the first year and thereafter to
(except purchase money
pref. stocks be increased
mortgages) and none can be created, nor authorized
without consent of 66 2-3% of outstanding
Dividends
_
/
stock of the Acme Tea Co. (see above), and also the business and assets
of the following chain store companies: Robinson & Crawford, the Bell
Places Where Interest am
11
500 Ac
100 &c
100 &c
100 &c
1918
Dividend
arid Maturity
■
&c
100
mortgage gold (V 70, p 40)
-_OB.zc*
longer convertible, call 105 (text)—OB.xxc*&r*
Convertible bonds redeemable, text
z
Sinking fund collateral trust bonds s fd 1 % call 105
OB
West T & T Co coll trust bonds $10,000,000 aaaum.OB.zc*
Conv bonds $50,000,000 conv after 2 yrs into stock at 106c*
5-yr notes call 1st yr 105,2d 104,3d 103.4th 102, thlOl Bac*
3-year notes call at 102
-Ba.c*
195 Broadway Corp. mortgage—see text
Bonds,
Last
Q—J
Q—J
7
$3,494,300
1,381,300 7 in 1920
100
Pref stock 7% cum mot pref as to assets) $45,000,000
American Sumatra Tobacco Co—Com stock $25,000,000—
text
149
July 11921
$1
July 1 1921 14 Philadelphia
July 1 1921 1%
do
text "q—j"" Juiy2'21
45,000,000 See
1*4% Checks mailed
45,000.000 7 inl919
Q—J
July2'2l 1%%
do
14,448,585 10 in '20
Q—F
Mayl 1921 2%
7
1,963.500
M
&
S Sept 1 *21
Z4
6.564,000
&
D June 1 1925
74 g J
New York
14.000.000
5
Q—M
June 1P21 14% Western Union Tel, N Y
443,734,200 See text
Q—J
Julyl5'21
2 4 Checks mailed
78,000,000
J
&
J
11929
N Y, Bos, Lond & A mat
i g MAS July 1 1936
4 g
2,589,000
Mch
N Y, Boston and Amstd
11,872,500
M &
8 Mch 1 1933
44
do
do
76,461,100
J
&
D Dec 1 1946
New York and Boston
J
&
J Jan
9,985,000
1 1932
Old Colony Tr Co, Bos
F
47,966,800
&
A Aug 1 1925
New
York and Boston
F
40,000,000
&
A Feb 1 1924
do
do
6
A
&
O Oct 1 1922
50,000,000
New York and Boston
$100
-
American
BONDS
was
been
convertible since
underwritten.
V.
271.
Aug.
1
1920 into stock
106, p. 2651; V. 107,
.
p.
at
106.
The
84, 292, 698; V. 108,
\
BONDS.—The (closed) $80,000,000 5% 30-year Sinking Fund Collatera
a sinking fund of I % per annum and are redeem
able at 105 and int.
See V. 103, p. 1982, 2081, 2157. 2344; V. 105. p. 1710
Trust bonds of 1916 have
Security for 5% Collateral Trust Bonds of 1916 as of Mar. 31 1921.
110,900,000 stock of New England Tel. & Tel. Co. (V. 103, p. 498).
34,462,000 stock of New York Tel. Co. (V. 103, p. 1122; V. 102, p. 708)
12,208,700 stock of Southern Bell Tel. & Tel. Co. (V. 102, p. 1980.)
14,000,000 stock of Northwestern Bell Tel. Co.
21,590,100 pref. stock of Pacific Tel. & Tel .Co. (V. 102, p. 1883).
Collateral
Trust Mortgage of 1899
Is secured by collateral shown below
On additional collateral further bonds may
exceeding 75% of the estimated value of collat¬
eral; and the Issue at any time outstanding must not exceed the amount oi
the company's capital stock then paid up. V. 09, p. 1195,1249; V. 70, p. 40
V. 85, p. 1398; V. 80. p. 999, 1113; V. 92. p. 190, 397; V. 93. p. 347.
(compare V. 92, p. 397.)
be Issued to an amount not
American Thread—Pref (a ft
Common stock (see text)
6]
par
Amount
Value
Outstanding
gold
. .O.xxxc*
stk ("A") S50.000.000 autn_
$100,000,000
Preferred (a & d)% $54,010,600 (see text;
Gold bonds *not mortgage; $56,100,000 auth-._G.xc*&r
First
mortirage
._.-_._...G.xc&r*
Consolidated
mtge gold
„^O.xn*ftr
Serial gold notes due serially Nov 1 call text__
G.xxxc*
Gold
bonds
mortgage)
Tobacco coll trust
(not
8% Dividend Certificates (see text)
JO'»
'
Srn******
6
Q—J
52,699,700
A
ft
O
6 g
419,000
F
ft
A
4 g
I
F
ft
A
4 g
50 Are j
1,365,300
M
&
N
7 g
16,667,090
1,000
8
5.372,556
'
Q—J
iOO
4,000,000 4 ID 1920
Q—J
100
2.560,600 7 in 1920
100
1918
1920
«.
«■* *+** 'em
**m
566 500
6 g
M
ft
M
ft
100 Ac
857,100
870,500
6 g
6 g
M
100
9 200 000
100
5.450.000 7 in 1920 Q-F
1896
100 ftc
1909
IOO
1917
*m*m~m
'
ftc
100
lOO&c
1914
and secured by de¬
par
Par Value.
& Telegraph Co—
—-
t
1(in
(a) Into stock at 120
amount of stock upoD
They are redeemable at Sept. I 1925 and there¬
after at par.
Amount out reduced by conversion from $67,000 000 to
$11,872,500 on Mar.31 1921V. 96, p. 204, 364, 792; V. 100. p. 644.1630.
In Jan. 1919 the co. sold (V. 108, p. 173) $40,000,000 of 5-yr. 6% notes
dated Feb. 1 1919 in order to redeem the $40,000,000 Bell System 6% notes
maturing Feb. 1 1919. V. 108, p. 173. 1067: V. 106, p. 89, 192, 608.
In Sept. 1919 the co. (V. 109, p. 1275) sold $50,000,000 3-year 6% notes
dated Oct. 1 1919 in order to provide funds needed for the expected growth
of the Bell Telephone System, forecast
by the then present abnormal
1275, 1368
of America has made a loan of $8,400,000
on the company's new 28-story building at Broadway and Dey Street, N. Y
City.
The loan is for a term of five years and bears interest at the rate of
6%.
The mortgage was made by the 195 Broadway Corp. realty holding
company for the American Tel & Tel. Co.
The collateral trust bonds of 1902. made by the Western Telep. & Tel eg.
Oo., were assumed in 8ept. 1912 and will, on application to trustee, be
endorsed with the agreement to pay prln. and Int.
Their collateral consists
of (stock) $3 261,100 Cin. & Sub. Bell Tel. Co.. $5,527,000 New Eng. Tel.
& Tel. Co., $3,332,600 Wisconsin Tel. Co.; (bonds) $2,000,000 Home Long
volume of business. V. 109, p.
The Prudential Insurance Co.
due 1932.
REPORT.—For cal. year 1920 at
1920
length in V. 112, p. 1033.
1918
1919
Real estate, Ac
Interest & other revenues
13,115,897
from associated cos
$103,946,988 $70,502,682 $61,056,163
33,260,084
10,259,295
6,763,146
Total..
Expenses
Net
earnings....
Interest
Dividends
1917
18,022,220
17,805.006
18,780,396 (For 5 mos.)
19,953,437
28,132,523
Compens'n Gov. contr't-
(8%)
Carried to reserves
$56,237,063
7,296,596
$70,686,904 $60,243,388 $54,293,017
18,865,688
15,847,596
10,391,695
35,376,793
35,356,334 35,229,699
8,000,000
5,000,000
5,000,000
$48,940,467
$3,671,623
$3,489,492
Carried to surplus
$8,444,423
$4,039,457
Balance sheet of Dec. 31 1920 showed p. & 1.
Earnings for 3 months ending March 31 1921
earnings, $26,356,782; net earnings, $18,085,924;
(2%), $8,868,556; surplus, $4,224,240.
10,469,360
32,481,614
2,500,000
surplus, $96,649,961.
(March estimated): total
interest, $4,993,127; divs.
DIRECTORS.—Jas.
S.
Alexander, Arthur Lvman, H. B. Thayer
(President), Edwin F. Greene, George F. Baker, Henry S. Howe, Chas.
Hubbard, William Lowell Putnam, John I. Waterbury, Eugene V.
R.
Thayer, William
A.
Gaston, Charles F. Adams, G. P. Gardner,
Philip Stockton, W. Cameron Forbes, George L. Green, William C. Pear¬
son, James W. Green, Clarence L. Langiidge, W. W. McClench; Sec., A. A.
Marsters; Treas., W. Blair Smith.
Offices, 195 Broadway, N. Y., and 125
Milk St., Boston.—(V. 112, p. 164,260,]1033,1401, 1520,1619,1980, 2086.
E.
AMERICAN THREAD CO.—Incorp. in N. J. March 10 1898 (V. 67,
p.
1158; V. 107, p. 2010).
Common stock 1,200,000 shares ($10 par),
$7.50 per share paid up.
Late Divs.—
'09.'10.'11.'12.'13.'14.'15. *16.'17.
*18.
'19.
'20.
Com.cts.per sh.18 67}^ 45
27 54 81
45 81 76)4 $1.03)4 $1.00 $1.12)4
BONDS.—The $6,000,000 1st M. 4s due Jan. 1 1919 were replaced by
an issue of $6,000,000 1st M. 6s due Dec.
1 1928. V. 107, p. 2010; V. 70,
p.
179; also V. 76, p. 296.
owning bmMing
In 1901 purchased control of Wool Exchange,
J60^West Broadway, subject to first mtge. of $175,000.
REPORT.—For year ending March 31 1920, in Y. Ill, p. 292, showed:
11 Mos: 17
13 Mos." 18.
1919-20.
1918-19
$1,418,174
$4,058,481
$2,099,780
244,524
244,524
244,524
918,000
1,242,000
Common dividend
1,350,000
1,200,000
(18)
Per cent
(22)
(15)
(20)
Pres., R. C. Kerr, Montclair, N. J.; Sec. & Treas., J. G. Wylie, 260 West
Broadway, N. Y.
V. 112, p. 64.
Net afteri nterest, &c
$3,616,756
Preferred dividend (5%).
244,524
(THE)
AMERICAN TOBACCO CO.—ORGANIZATION.—A merge;
Oct. 19 1904 under New Jersey laws.
V. 79. p. 1024, 1705; V, 80, p. 168
On May 29 1911 the U S. Supreme Court held the company a combination
to violation of the Anti-Trust law (V. 92, p. 1501) and required that various
of Its properties be disposed of. Properties and output remaining after the
For details of
disintegration plan, compare V. 93, p. 1122, 1325, 1557, 1603, 1670.
Owns a majority of the stock of the American Cigar Co.
See separate
aforesaid sale was given in V. 94. p. 280; V. 107, p.1670.
The Mengel Box Co. of
Louisville,
a
majority of whose $6,000,000 com.
by the Am. Tob. Co., placed $4,000,000 7% serial gold
debentures dated Nov. 1 1918 and due $1,000,000 yearly Nov. 1 1920 to
1923.
is
owned
V. 107, p. 1842.
Option to purchase stock of Norfolk Southern RR.—V. HO. p. 2389
In Oct. 1920 exchanged 6,000 shares Common"B" stock for 12,000 shares
Corp. common stock.
V. 112, p. 1027.
STOCK.—The pref. stock all ranks now as 6% cumulative with full
voting rights.
V. 102, p. 523.
The shareholders voted March 14 1917 to
of Tobacco Products
&
** *.
no
,;
.
do
do
Nov 1 '21 to '23
New York
Mar 1
.
Mayl6 '21
IX
New York
******
N
O
of treasury preferred
retire $25,989,400
do
do •?'
**
** «.
15
&
A
5 g
'**
***m~
Y "London
& Paris
the
capital stock, thus reducing
766. 1047.
of the 597
576 shares of unissued common stock into "common shares Class B,
aavlng the same rights to dividends and upon liquidation as any other
shares of common stock, but without any voting rights.
On Sept. 15 1920
stockholders voted to increase the authorized amount of Common "B"
stock from $50,000,000 to $100,000,000.
V. Ill, p. 1185.
See under
iuthorized pref. from $80,000,000 to $54,010,600.
V. 104. p.
The shareholders voted Jan. 7 1918 to change 500,000
19
"Dividends" below.
DIVIDENDS.—On common stock since
1913,
1912
Year—
1914
paid. Mar. June and Dec., 5%
In 1914
"disintegration" of 1911 to 1912
1915 to Dec. 1917. 1918-'2l.
text
20(5%Q--M.)
20 (text)
20
Regular.cash(%) 7X
6%
of
In cash; Sept. 1914, 5% in
scrip, paid off Sept. 1 1915.
Also Sept. 1912 $20 per share from sale
certain securities under the disintegration plan, and 2.986% In Amer. Ma¬
chine & Foundry Co. stock, and in March 1913 a similar cash distribution of
362. 620; V 96. p. 421.
On April 20 1914 a dis¬
B deferred ordinary shares of Imperial
215-240. or about 9-10 of a £1 share. V. 98. p 841.
The directors in Jan. 1918 decided that for a period the dividends upon
the common stock should be paid In scrip, bearing Interest at rate
of
6% per ann.. Int. payable M. ft S. and maturing in 3 years from Mar. 1
1918 and redeemable at maturity In cash or common stock "B" at par.
Cash option eliminated beginning March 1 1919.
Option to exchange for
stock eas extended from March 1 1919 to March 31 1921.
Accordingly
paid each quarter 5% in scrip March 1 1918 to June 1919.
In Sept. and Dec. 1919 ana Mar. and June 1920 paid a quarterly 5% in
cash.
V. 109, p. 579; V. 108, p. 582, 975; V. 106, p. 193, 298, 608, 1902.
$15 per share.
tribution
Tob
was
V. 95.
p.
made In restricted
Co. equaling about
A
2452..
May 6 1920 approved the
The stockholders on
plan of the directors for a
distribution
75% stock dividend on common and common stock "B" by the
of authorized but unissued common stock "B" on Aug. 1 1920.
The plan
carried with it the redemption of the outstandnig scrip in exchange for stock,
in order that scrip holders may participate in the stock dividend.
Compare
V. 110, p. 1644.
On Sept. 1 and Dec. 1 1920 and Mar. 1 1921 paid 3% each
on common and common "B" stock, payable in 8% scrip which will be ex¬
changed for common "B" or com. stock on March 1 1923. V. Ill, p.
1854.
V. 112, p. 565.
In June 1920 paid 3% each on common and
raon "B"
stock in cash.
NOTES.—In Nov. 1917 a syndicate
discount notes to
591,
com-
took an Issue of $25,000,000 6%
Increased business.
V. 106, p.
provide for the greatly
these notes were replaced
$5,000,000 Nov. 1 1919,
$3,333,000 yearly for each of the two following years, $3,334,000 in 1922,
$10,000,000 for the fifth year, but callable as whole or in series (the earliest
maturities first) as follows: 105% for notes having four years or more to run;
104% for notes having 3 years or more (but less than 4 years) to run; 103%
for notes having 2 years or more (but less than 3 years) to run; 102% for
notes having 1 year or more (but less than 2 years) to run; 101% for notes
having less than 1 year to run.
While any of these notes are outstanding
none of the real or personal property can be mortgaged (Liberty bonds alone
exceped) and the quick assets must not fall below 1X of the current
ties plus these notes.
V; 107, p. 1670, 1748.
liabili¬
Dec. 31 1920 in V, 112, p. 114D
Calendar
Net
Bond
Balance,
Year—
Sales.
Income.
Int., &c. Pref. Div. Com. Div. Surplus.
$
$
$
$
$
$
1920.-_-143.106.332*18,615.398 3.464,243 3,161.982x9.396,7P6
,592,377
146,023,730*18,722,128 2.749,556 3,161,982 8,048.480 4,762,110
1918..—144,470,069*19,034,762 2,421,722 3,161,982 8,048,480 5,402,578
1917
89,920.249*13.563,665
252,980 3,161,982 8,048,480 2,100,223
*
After deducting Federal excess profits and income taxes.
x Includes $4,024,240 paid in cash and $5,372,556 paid in scrip.
Also
paid out of surplus in Aug. 1920 $38,375,400 in Class B common stock.
REPORT.—Report for vear ending
_
DIRECTORS —Percival S. Hill
J. H. Mahler and G.
(Pres.), Charles A. Penn, C.
W. Hill (V.-Ps.), J. T. Wilcox,
S.'Keene,
A. L. Sylvester, J. E.
T. HarkHicks.
Lipscomb, G. Wm. Lang, Arthur C. Mower, Tho«. W. Harris, T.
rader, F. M. DaCosta, C. F. Neily (Sec.).
Treas.. J. M. W.
Office, 111 Fifth Ave., N. Y.—(V. 112, p. 565, 747, 1027, 1141, 1869.)
AMERICAN TYPE FOUNDERS CO.—Incorporated in 1892 under laws
See V. 55. p. 625, and adv. In 1896 the capital stock was readjusted.
682.
New plant, V. 77, p. 1292; V. 79. p. 1703.
In 1918 pur¬
chased portion of Keystone Type Foundry for $350,000, and its standard
of N. J.
V. 69, p.
merchandise for
about $850,000, giving in payment
$800,000 debentures
and about $400,000 cash.
V. 108, p. 1833.
$1,000,000 Barnhart Bros. & Spindler com. stock and guarantees
$1,250,000 7% 1st pref. (par $100; dividends (Q.-F.); also $750,000 7%
2d pref. stock, prin. and divs., according to terms of an agreement with
Guaranty Trust Co. of N. Y. dated May 19 1911. V. 92, p. 1501.
due
1937
in
Owns
In
DIVIDENDS.—On common, Oct. 1898 to Apr. 1921, Inch, 4% p. an.
addition, In Jan. 1902 6% scrip; In Apr. 1903. 3% scrip; Apr. 1909. 2%
scrip, was paid; Mar. 1917, 2% scrip, applicable in
scrip; May 1913, 2%,
payment for bonds of 1917.
V. 104, p. 1265.
DEBENTURES.—Of the 6% debentures dated May
be used to retire the old debentures.
A sinking fund
000 additional when the old debentures are retired will
the debentures at not over 106 or draw them by lot at
ro
627; V. 89, p. 1068.
000, against $975,000
p.
On Aug. 31 1920 notes payable
1 1909, $800,000 are
of $30,000 and $20 be used to purchase
106 and Int. V. 88,
aggregated $1,320,-
in 1919.
31 1920 in V. Ill, p. 2039.
Net
Common Div
Preferrpd Div
Bat., Sur.
$761,593
(4%)$160,000
(7%)$179,242 $422,351
1918-19
518,484
(4%) 160,000
(7%) 175,785 182,699
1917-18
446,271
(4%) 160,000
(7%) 165.242 121,029
Pres., R. W. Nelson, 300 Commuiiipaw Ave., Jersey City.—r(V. 112,
p. 654, 935.)
REPORT.—For year ending Aug.
Year—
1919-20.—
AMERICAN WATER
statement for that company.
stock
«.«•
******** ********
16,069.000
**
Trust Co. N Y
do
■
2231: V. 105, p 1899, 2000, 2186.
In Nov 1918
with an Issue of $25,000,000 7% notes, maturing
$34,800,466y$16,461,674x$19,527,451 $28,894,254
56,030,625 fy5,955,048 x4,726,096 77,887,548
\ (y 5 mos.)
(x 7 mos.)
\1,,650,255
Dividends received
Telephone traffic (net)
10.000,000
m.
Aug
1923
Apr 15 1921 1% Checks mailed
do .-V:/.''
Apr 15 1921 1%
Bankers Trust Co. N Y
N May I 1926
Guaranty Trust Co, N Y
N May 1 1939
do
do
N May 1 1937
** 4*
-
-
share.
Dist. Tel. Co. of S. F. 5s,
Guaranty
1 1951
1 1951
_.$39,000,000
27,500,000
7,100,000
147,836 New England Tel. & Tel. Co
14.783.600
100,000 Southern Bell Tel. & Tel. Co.._
10,000,000
279,848 Southwestern Bell Telephone Co
27,981 800
New England T. & T. Co. 4% bonds, due 1930
100.000
The convertible 4s of 1906 ($150,000,000 original issue) are to be ratably
secured by any future mtge. or coll. trust indenture.
They have been sub¬
ject to call since March 1 1914 at 105 and were convertible into stock from
March 1 1909 to March 1 1918.
See V. 82, p. 394, 571, 699; V. 83, p. 438;
V. 84, p. 105, 160, 273. 933, 1369, 1489; V. 86, p. 171, 1411; V. 87, p. 1013,
1481,1535, 1606; V. 88, p. 453, 508. 566, 627; v. 93. p. 47. 231.
Outstand¬
ing issue was reduced from $150,000,000 to $2,589,000 Mar. 31
1921 by
payment of $20 per
1)4%
1
Aug
1001
NY only
do
1944
Oct
viz.;
conversion into stock.
V. 101, p. 1630.
The 20-year 4)4% bonds or 1913 are convertible
since Mar. I 1915, to Mar. I 1925, or (b) Into an equal
Apr 1 '21
&c
Col. Trust 4s of 1899.
390,000 Illinois Bell Telephone Co
275,000 Mountain States Telephone
71,000 Wisconsin Telephone Co
Guar Tr Co.N Y.&Lon
1921 3% Checks or div scrip mailed
do
do
1921 3%
Checks mailed
&c
posit with trustees of the following stocks and bonds of associated cos.,
$126,168,400, (Est. value, $118,328,052; V. 105. p. 1710; V. 97, p. 446).
Shares—Collateral Mar. 31 1921 for
June 1
50
red 105
obligation of the company
June 1
Q— M
text
50
...
$1,000,000 s f $20,000 y'lv began Sept 1000.Bar
$2,000,000 red 106 s fd $30,000 y'ly (text)., (i.z
Deb gold $1,000,000 g call 105 s fd $40,000 yearly
G c*
Amer Water Wki & Elec Co., Inc.—Com stock $10.000.000
First pref (a & d)7% cutn stock red 110 $10,000.000_._._.
6 % participating pref stock red 105 $ 10.000.000. - - - - - —
Oollat trust bonds $20,000,000 auth call 102)4 ---Baxxx c*
text
'21 2H%
1904
•
..
6,000,000
40,242,400 See
49.300,200 See
Dividends are Payable
D Dec 1 1928
1904
Deb gold
Deb gold
These bonds are a direct
'
.
—
American f ype Founders-Common stock._
Preferred (a ft d) stock 7% cum $3,000,000
ft
6 g
Where Interest an#
Places
and Maturity
J July 1
&
J
100
$1,000
1918
$6 000,000
American Tobacco Co—Com.
Com stock B (non voting)
Payable
$4,890,475 5 to 1920 J
£
d) Btk $6,000,000 5% cum g or
When
%
•
Dividend
Last
Rate
Dale
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on page
[VOL. 112.
STOCKS AND BONDS
INDUSTRIAL
150
WORKS & ELECTRIC CO., INC.—ORGANI¬
In Va. April 27 1914 (per plan In V. 98, p.
ZATION, &c.—Incorporated
Co.
914, 1074), as successor of the American Water Works ft Guarantee
V. 101. p. 372. 769; V. 105, p. 1519; V. 107, p. 1477.
Properties owned or controlled: (a) Water-works supplying
towns in U. S. [see capitalization V. 105, p. 1519; V. 102. p. 713; V.87, p.1092;
cities and
V.91
p
158; V. 95, p-1547; V.
d. 558; V. 108, p.
98, p 1005: V
100.
PoAver Co. "Elec.
1518; V. 102, p. 891; V. 104. p.
Valley. V. 107, p. 1477.
97. p. 959. 1050; V
1938]; (b) West Penn Trac. ft Water
Ry. Sec." and V. 107, p. 2471; V. 105, p.
766;(e) 26,000 acres of land in Sacramento
MAT, 1921.]
RAILWAY STOCKS AND BONDS
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on page 6]
151
Date
Amer Wholesale Corp—Common 150,000 shares
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
None
95.704 shs
$8.131.900
....
Preferred (a & d) 7% cum call 110 s f auth $9,000,000
American Window Glass Co—Pref stk $4,000,000 7% cum
First Mtge & Coilat bonds sinking fund call par
$1,000
100
1912
American Window Glass Machine—Com stock $13,000,000-.
Preferred a & d stock 7% cumulative $7 000.000
7
100
M
6 g
F
&
A
Feb
Apr
Apr
Apr
Apr
American Woolen—Common stock $40,000,000 auth
Preferred stock 7% cum (a & d) $60,000,000 auth
100
100
American Writing Paper—Common stock
Preferred (a & d) stock 7% cumulative $12,500.000
New 1st M $12,000,000 sk fund from Jan 1
1919
See text
12,918 600 See
6.9(9.600
Q—J
40.000.000 7 in 1920 Q—J 15
40,000.000 7 in 1920 Q—J
15
100
100
12.500,000
1.000
9,293,000
—
call
.
105-
^text
100
xxx_OB.c*&r
1919
American Zinc Lead 5c Smelting Co—Common stock
Pref stock cum 24% (entitled to
$100jper share in liquidation)
Gran by Mining & Smelting 1st M (closed) assumed call
sk fd, $100,000 yearly (Y 104. p 1492.1486)
NC
Places Where Interest and
Dividends are Payable
1 1921 1$* Central Un Tr Co, N Y
1 1921 3H By check from
Pittsburgh
1 1922
Farmers Dep N Bk, Pitta
8 Mar
&
Dividend
and Maturity
Apr
Q—J
7
4,000.000
245.000
1,000
Last
1 1921 1H Pittsburgh, Pa
1 1921 15*
do
do
15 1921 15* Company's office,Boston
15'21 15*% Company's office, Boston
9.500.000
25
Apr
to 6% J
text
4,b28,000 See
2.414,000 24in 1920
25
1916
5 g
1.481,700
1939
OUTr,NY ;01dCol Tr.Bos
May 1 1917 4%
Nov 1 1920 6% Boston Mass
~~Q—F
J
1 1913 1% Checks mailed
J Jan
&
D June 1926
&
Chicago Northern Tr Co
1
*
:V'
m
1
mi
ww
For list of principal securities owned June 30 1919, see V. 109,
p. 2170.
In Jan. 1921 owned or controlled (a) cards, 678 sets woolen and 382
worsted: looms, 9,809; combs, 412 English and 25 French; spindles, 775,354,-
Bonds of subsidiary oompanies in hands of public June 30 1920
(excluding
Porta.
Berk. & Suffolk
and
Racine Water cos. sold to cities), aggregate
213, viz.: English worsted, 283,920; French worsted, 185,840; woolen,
305,594.
Government control of wool, &c., in May 1918, V. 106, p. 1747,
2012, 2179, 2180; V. 107. p. 804, 854.
The Wood Worsted Mill Corporation, which was merged In Sept. 1910.
owned a large mill at South Lawrence, Mass., for the manufacture of yarns
and men's wear fabrics.
V. 81, p. 900
842; V. 84, p. 1054; V. 86, p.
599; V. 90. p. 622; V. 91. P. 522. 1162.
The Ayer Mills, whose stock is owned, built a yarn mill at South Lawrence,
Mass.
V. 88. p. 508; V. 90, p. 622, 701; V. 92. p. 1312; V. 102, p. 888;
V. 104, p. 766.
The American Woolen Products Co., organized to carry on a general
$22,130,900, against $22,319,000 in 1919.
VOTING TRUST,—All of the stock is vested for 5 years from
Apr. 27
1914 in 5 voting trustees, viz.: H. Hobart Porter, Williaim Nelson
Cromwell,
Howland Davis, Wm. B. Schiller and A. 13. Wiggin.
$7,000,000 to
$9,200,000 and the first pref. from $5,000,000 to $5,450,000 per plan in
V. 104, p. 1803; V. 105. p. 182.
,
DIVIDENDS.—The accumulated dividends having been
discharged
(compare V. 106, p. 50), 15* % was paid quarterly Aug. 25 1917 to May 16
1921 on the $5,450,000 7% cum. 1st pref. stock.
water
companies
on
June 30 1920 held by public, $22,130,900.
—Subsidiary
Water_ Cos.
1919-20.
Gross earnings
Oper. expenses & taxes..
1919-20.
earnings
' $2,196,834
Interest, amort., &c
$1,689,157
Propor. of earns, accr. to
24,729
minority stockholders
Net
$2,294,436
$3,712,009
$3,526,474
$2,156,830
$482,947
Total income Am. W. W. & El. Co.
Net earnings
1917-18.
$482,947
$463,067
$618,953
927,930
Balance
Results for 9
mos.
$1,464,597
$1,322,253
833,608
381,500
$1,390,997
$1,263,953
828,843
381,500
$1,480,379
$1,396,259
811,073
381,500
$53,610
See V. 109,
p.
272.
STOCK.—Annual sinking fund for purchase or redemption of Pref. stock
commencing July 1 1920 is to receive 25% of net profits after Pref. divi¬
dends, but not less than 3% of the largest amount of Pref. stock at any one
time outstanding.
Redemption price, $110 and divs.
No mortgage with¬
out consent of 75% of Pref. stock.
Initial dividend of 1% % paid on Pref.
1 1919; to Oct. 1921, 15*% quarterly.
stock Oct.
1921—April—1920.
1921—4 Mos.—1920.
$2,254,940
$2,616,348 $11,184,937 $14,610,446
REPORT.—For
1920, in V.
Total
1919.
1920.
earnings-..
Federal taxes, 7% p. a. (estimated)..
Preferred dividends
Federal taxes for year 1918
1918.
5
5
1919. 1920.
1919 increased the common div. from
1921.
7
5)£
15
see
text
7
1 )* quarterly to 1?*%.
April 1921, 1%% quar.
do
1918.
1919.
1920.
1917.
x$15,513,415 $12,324,084
$15,664,985
("aft.appi.res.").. $6,855,259
(7%)
2,800,000
2,800,000
2,800,000
2,800,000
(7)1,983,333(16)3,200,000(10)2,000,000 (5)1,000,000
Pref. dividend
Insurance, &c., fund
1,500,000
a8,250,000
Reserve for taxes..
*2,569,053
Depreciation
x
2,500,000
3,000,000
3,320,829
x
3,733,611
2,228,404
5,251,557
Balance, surplus.__def.$2,723,531dof$2470,196
x$772,527
1920, $31,508,733.
$3,044,156
x Net profits for 1919 are shown, after deducting reserve for taxes and
contingencies,
a Includes $7,250,000 reserve for possible diminution in
inventory value.
* Prov. for Fed. taxes of previous years, &c.
OFFICERS.—-Wm. M. Wood (Pres.), Andrew G. Pierce Jr., Geo. L.
Shepley, Parry C. Wiggin (V.-P.), W. H. Dwelly (Treas.).
Office, 245
State St., Boston, Mass.—V. 112, p. 158, 260, 473, 851, 929, 935, 1027.)
AMERICAN WRITING PAPER CO.—ORGANIZATION.—Incorpor¬
ated in New Jersey on June 25 1899 as a consolidation.
Has twenty-four
separate manufacturing plants, 15 of these located in Holyoke, Mass., and
the other
9 in Mittineague
Huntington and South Lee, Mass., Man¬
chester, Unionville and Windsor Locks, Conn., Franklin and Excello, O.
De Pere, Wise.
Departments: Writing and ledger papers, specialties
and
and covers, books
and papeteries and envelope papers.
V. 69, p. 25, 128,
227; V. 70, p. 998; V. 80, p. 1172; V. 90, p. 625; V. 92, p. 458.
In Feb.
1917 important new interests became directors.
V. 106, p. 1793.
BONDED
DEBT.—The plan of 1918
1748. 2010, 2190, 2291, 2478; V.
112, p. 560, showed:
Calendar Years—
Gross sales
1917.
3?*
Total profit and loss surplus Dec. 31
AMERICAN WHOLESALE CORP.—ORGANIZATION.—Incoro. June
27 1919 in Maryland.
Its business started in 1881.
Is conducted through
catalogue instead of salesmen, and comprises nearly everything sold by
Amount..
1916.
stock
EARNINGS.—Report for year 1920, V. 112, p. 929, showed:
$203,686
,
SALES.—
common
Net profits (after taxes)
Net profits (before taxes)
ended Mar. 31 1921, in V. 112, p. 2193.
department store (except groceries).
balance sheet showed $1,000,000 coupon notes due
office and
Common dividend
OFFICERS.—Pres., H. Hobart Porter; V.-P., J. H. Purdy; V.-P.
Walter S. Finlay Jr.; V.-P. & Treas., Philip L. Ross; Sec
W. K. Dunbar
Office, 50 Broad St., N. Y.—(V. 112, p. 369, 747, 1744, 2193.)
the average
1920
do. in Liberty bonds (Feb. 1919, 5; Apr .10%)
On pref. stock—July 1899 to Jan. 1921, p.a
861,426
$107,146
Bond interest, Ac
on first pref. stock
31
$1,387,462
1918-19.
981,650
stock West Penn. Trac. & W. P
offered to stockholders of rceord June 7 at $100 per share in the
new share for each three shares of stock held.
one
Dec.
DIVIDENDS.—
On
$2,139,012
$1,555,179
$463,068
Co's proportion net earns, water cos..
Income from invest., &c., incl. pref
was
In Oct.
1919-20.
V. 108, p. 2328. 4
Oct. 1 1922 (Homestead assoc., Inc), $2,335,000 mtges
on
warehouse buildings in N
Y. City and $3,792,000 bank loans.
to
38.278J
Company's Income Account—
Dividends
stock
ratio of
$1,793,091]
.
1917, and opened branch offices
CAPITAL STOCK.—The stockholders voted May 25 1920 to Increase
the authorized pref. stock from $40,000,000 to $60,000,000, and the com.
stock from $20,000,000 to $40,000,000.
The additional $20,000,000 com.
1918-19
$5,011,315 $12,327,192 $10,362,483
2,716,879
8,615,183
6,836,009
2.680.143
Balance, surplus
West Penn Railicays—
1918-19.
$4,876,977
export business, began business on Apr. 1
in Canada, South America, Mexico and in the Far East.
The
REPORT.—For year ending June 30 1920 in V. Ill, p. 1470; V.
112.p.369.
l
^
STOCKS.—The 6% participating pref. stock is entitled to share with
the common stock in any dividends over 6% declared in
any year on both.
In 1917 the outstanding common was increased from
BONDS.—Of the coilat. trust 5s ($20,000,000 authorized issue),
$17,
840,000 had been issued to June 30 1920, of which $604,600 were in the
treasury. $756,000 had been retired and canceled, and $410,400 otherwise
disposed of, and $16,069,000 were otherwise held.
Bonds of subsidiary
m
1918.
as
$25,577,845 $35,345,711 $25,577,846
694,773
4,270,566
69,000
1,341,954
575,235(3M)297,500
(а) The bonded debt consisting of $17,000,000 1st M. 20-year 5s, due
July 1 1919, of which $11,000,000 then were in the hands of the public.
$3,777,000 in sinking fund and $2,223,000 purchased by the company and
held in its treasury was retired and canceled on or before maturity, July
1
1,953,079
(given in full In V. 107, P. 1674,
108, p. 381,685) recasts the funded debt
follows:
1919.
Each
Balance, surplus
$50,538
$678,033
Jacob Epstein, Pres.; A. Ray Katz, Sidney Lansburgh, V.-Pres.; Nathan
Epstein, Sec. & Asst. Treas.; Abraham I. Weinberg, Treas. & Asst. Sec.,
Office, Baltimore.—(V. 112, p. 164, 560, 1027, 2086.)
AMERICAN
Machine Co.
WINDOW
GLASS
CO.—See
American
Window
Glass
below.
AMERICAN WINDOW GLASS MACHINE CO.—ORGANIZATION.
—Incorp. in N. J.
on Mar. 6 1903.
V. 76, p. 596. Owns exclusive rights
window-glass machine patents in the U. S.
See V. 109, p. 372;
596, 707; V. 107, p. 2010. Also owns $12,999,200 of the $13,000,stock of Amer. Window Glass Co. (V. 107, p. 1668) and leases
in certain
V. 76, p.
000
com.
patent rights to latter on royalty.
In Oct. 1919 accrued royalties had all
been paid and royalty was being paid regularly.
SeeV.109,p.372.
V.76,
p. 707, 867;
V. 77. p. 2282;
V. 79, p. 2644; V. 91, p. 1027.
Patent
decrees, V. 110, p. 2489.
DIVIDENDS %.—
1915.
On cum. Pref. stock..
7
On Common, cash
do
Liberty bonds.
All the accumulation
1916.
1917.
1918.
47
34
20
10
....
on
the Pref.
5
1919.
7
—
1920.
1921.
7
see
14
text
7
$1,000 outstanding bonds exchangeable for $1,000 new bonds.
new (closed) $12,000*000 20-year mortgage was created, dated as
1919, of which $11,000,000 was applied to refunding the $11,000,000 of bonds held by public and $1,000,000 was applicable to corporate
(б)
requirements.
1918, an initial dividend of 10% on common was paid June 29 1918. V. 106,
2652.
On Oct. 5 1918 a dividend of 5% and in June 1919 one of 7% was
paid on the common stock in U. S. Liberty 45*% bonds.
In 1920, Jan.,
5%; April, 3%: July. 3%; Oct., 3%.
In 1921: Jan., 3%; April, 1H%.
REPORT.—Report of the Machine Co. for year ended April 30 1920,
showed; Gross income, $4,671,505: expenses, taxes, &c., $2,379,072; net
earnings, $2,292,432.
The report for 11 mos. ending Mar. 31 1921 shows a
deficit, after all expenses, taxes & divs., of $286,058.
Royalties received
were $2,596,835 and expenses and taxes $1,028,106.
Pres., Wm. L. Monro; V.-Pres., A. E. Braun; Sec. & Treas., R. S. Wilson,
Pittsburgh. Pa.—(V. 112, p. 473, 1027, 1980.)
AMERICAN WOOLEN CO. (OF MASS.)—ORGANIZATION.—Incor¬
Feb. 15 1916 as a reincorporation of the N. J. company
same name
and capitalization.
In 1899 merged the Washing
Mills, Lawrence. Mass.; National Providence Mills, Providence, R. I.
Ac.; see V. 68. p. 472; see also p. 716; V. 69, p. 77; V. 73, p. 446: V 71,
porated In Mass.
8lus (1) 25% fixed charges, &c., earned in amount of bonds outstanding has
epreciation. of the net surplus until the any one year, after providing for
been reduced to $10,000,000 par value; (2) and thereafter 15% of such net
surplus till the bonds are all retired.
REPORT.—For cal. year 1920 in V. 112, p. 2079, showed:
Gross Sales.
Net Income.
Bond Int.
Exp., <fcc.
1920—$32,951,727
1919.--$16,936,648
1918-.- 21,327,777
1917... 15,019.564
103, p. 580 V. 78. p. 1118; V. 90, p. 622
V. 101. p. 529. 1554. 1715: V. 102. p. 253,
In March 1919 purchased Whites tone Mills, Ellenville,
1276.
p. 545.
List of_properties, V.
V. 91. P. 1162: V. 71. p. 1316:
347, 802, 1542.
Conn.
V. 108, p.
$2,608,033
$1,790,192
2,792,295
1.486,153
$650,569
$675,047
554,359
566,530
$269,791
$680,050
985,306
769,335
PREF. DIVS.—June 1908, 2%; 1909, 1%; 1910 to
None since.
V. 97, p. 367, 446.
Bal. Sur.
$1,687,673
$435,095
1,252,629
150,287
April 1913, 2% yrly;
Accum. pref. divs. to April 1921, about
142)*%.
OFFICERS.—Chairman, Walter T. Rosen; Pres., George A. Galllver.
Henry Evans, R. R. Campbell and John T. Wolohan.
R. Browne.
Office, Holyoke, Mass.—(V. 112, p. 565, 1027, 1285, 1980, 2079.)
Vice-Presidents,
See., M. N. Slotnick; Treas., B. E. Hutchinson: Comp.. P.
AMERICAN ZINC, LEAD & SMELTING CO.—ORGANIZATION.—
Incorporated Jan. 26 1899 in Maine as a mining and smelting company.
a holding and
operating company for certain subsidiaries (V. 102,
p. 73; V. 104, p. 1486) in Missouri, Tennessee, Wisconsin, Kansas and Illi¬
nois.
Settlement of ore flotation suit, V. 105, p. 1804; V. 107, p. 858, 1748,
2378; V. 106, p. 2295, 2453.
It is also
with the
ton
Of this issue, $2,707,000 are in the treasury, leaving $9,-
293,000 outstanding in the hands of the public.
The new bonds bear interest (1) at 7% p. a. from Jan. 1 1919 to and
including Jan. 1 1921; (2) thereafter 6%, provided, however, that if the war
should continue beyond Jan. 1 1921 the interest rate should continue at
rate of 7% to and incl. first int. payment aftet termination of the war.
(c) Sinking fund for new bonds: An annual 1% of bonds outstanding,
stock having been discharged in Jan.
p.
A
of Jan. 1
STOCK.—On
June
15
1916
there
were
Issued
96.560
shares
of
pref.
stock
(par value $25) as a 50% stock dividend.
The pref. shares are en
titled to cumulative quarterly dividends of $6 per share
Q.-F., or 24% per
ann. and are callable at $100 and
divs., and In liquidation will receive up
to that amount.
See official statement to N. Y. Stock Exch. on listing
of stock,
is
V. 102, p. 2330, 1164, 69.
limited to $7,500,000.
The total stock, common and pref..
Date
[For abbreviations,
&c., see notes on page 6)
Anaconda Copp#»r Mining Co—Stk $160,000,000
Secured gold bonds $50,000,000 Ser A
do
do
Ser B red (see text)
Anglo-American Oil Co—Stock £3,000.000
Sinking Fund gold notes red, see text
Appalachian Power Co—IstM i25.000.000 s
$3.000.000
gold notes auth
auth
secured
New
When
Last Dividend
%
Payable
and Maturity
G.c*
f call 105-CC.xc*
B.c*
1
•"
$150,000,000 auth
_
—
Common stock Class B $150,000,000 auth
Preferred stock 7% cumulative $100,000,000 auth
Real estate ist M $50,000,000 gold red 102 H
xc*&r*
Debentures call par convertible Into pref stock—CC.xxxc*
Ten-year convertible gold notes (see.text)
_„_xxxc*
25
Common stock Class A
25
100
1,000 &c
1909
1918
100
100
1920
Ac
&c
1917
stk
8
On common
deferred
pending decisions as to war taxes.
V. 105, p. 291; V. 106, p. 2448.
Quarterly dividend on pref. shares, 6% each (24% yearly) was paid
Aug. 1 1916 to Nov. 1 1920.
Feb. 1921 div. was deferred.
V. 112, p. 374,
'99. *00.1907.1910.'11.'12. *13.'14-T5.
1916.
$2 $1 $1.25 $1.50 $2
$2 $1
0
50% In.
stock in 1917, Feb. A May each 4%; dividends then
Year—
•Com. divs
....
473.
BONDS.—Granby 5s $1,900,000
Dec. 31 1917; retired
1917-20, $418,300;
$1,481,700.
balance outstanding,
REPORT.—For cal. year 1919
showed: * Total income,
$432,037, com¬
$9,307,968 in 1916.
V. Ill, p.
paring with $911,416 in 1918, $1,780,164 in 1917 and
For the 9 months ended Sept. 30 1920 net profits were $345,445.
1755.
After deducting
*
Federal taxes.
OFFICERS.—C. W. Baker, Chairman; William A.
Ogg,
P. E. Coyle, W. F. Rossman, H. A. Wentworth
Hight, Vice-Presidents; V.-Pres. & Gomp., H. L. Smith; F. W.
Sec. & Treas.
Office, Boston.—(V. 112, p. 374, 473.)
L. A. Coolidge,
President
and C. A.
dis¬
1895.
Copper Co.. Ac.
V. 102, p. 1809.
Ore reserves, Ac.. V. 103, p. 322.
capital stock of the Andes Cop¬
per Co. Incorporated in Delaware on Jan. 20 with $50,000,000 stock In
$25 shares to control Andes Copper Mining Co. and the Potrerillos
Railway Co.
The Mining Co. has begun to develop low-grade steam-shove!
copper deposits near Potrerillos, Chill, and the railway co. is building a rail¬
road from Pueblo Hundido, on the Govt. Ry.; V. 102, p. 707, 524, 1809;
V. 104, p. 1796; V. 106. p. 398.
Actual mining awaits normal conditions.
In 1917 the Santiago Mining Co. was incorporated in Delaware with $10,000.000 authorized stock in $25 shares, of which the Anaconda will own
about 80%, to develop copper deposits under option about 13 miles from
Santiago, Cuba.
V. 106, p. 1895.
Status of So. American properties in
2190; V. 108, p. 81.
acquired practically the entire
Plumas
*06. *07 '08 to '11. '12. '13. *14. *15. *16. '17. '18. *19. *20
26
8 yearly
9
12
10 6 * 14
17 16
9
8
reduced from 4 to 3%, and in May to 2% ($1 a
Since 1904-119)4
In Feb. 1919 dividend
V. 107,
of 1919,
$25,000,000 of Series A were sold in Jan. 1919 to provide for the develop¬
ment of the South American property and to reimburse the treasury on
capital expenditures.
These bonds are secured by practically
the entire stock not only of theseveral South American companies (mining,
exploration and railway), but also in the Raritan Copper Works. Int.
Smelting Co., Int. Lead Ref. Co., Ac.
No mortgage can be made without
securing these bonds as a prior lien thereunder.
V. 108, p. 81.
In Oct. 1920 $25,000,000 Series "B" 7% bonds were issued.
Redeem¬
able, all or part, at par and interest plus a premium of )4 % for each year
or part thereof by which the maturity is anticipated.
V. Ill, p. 1568.
Notes.—Guarantees $4,904,000 8% notes of Copper Export Association,
Inc.
V. 112, p. 654.
account of
Note.—Operations were suspended April 1 1921.
do
do
(OC)A IstN Bk.NY
Chicago or New York
J July 15 1930
1917 to increase the
capital stock from
1914.
£1,582,312
£1,396,730
£1,122,979
1918
1917
1916.
Office, 36-38 Queen Anne's Gale,
75, 387, 2426, 2523.)
.
1917. 1918.
15
10
15
5
Deprec'n, Int.,&c.
£289,899
£65,595
£348,687
£29,853
£282,715
£12,974
Profits.
Cal. Year—
1915.
15
5
.
£318,296
£214,248
£222,398
London, S. W.,
V. 112, p. 1350.
112, p. 1970, showed:
1920.
1919.
1918.
Fine copper produced (lbs.)
138,763,065 144,112,285 293,603,726
Sliver produced (ounc&s)
6,420,026
7,377,477 10,967,905
Gold produced (ounces)
—
32,530
42.526
64,318
Sales of copper, silver and gold
$53,227,278 $52,633,649$109,504,744
Income from invest., sub. depts., &c_ 15,846,793
21,267,271
13,116,306
Copper, silver and gold on hand
32,536,183
28,705,376 27,865,266
REPORT.—For cal. year 1920, in V.
Years ending Dec. 31—
——
text
30
30
Dividends.
Inc. Tax.
1921
1920
1919.
30
Surplus
£8,522
£900,000
£53,942
£750,000
£500,000 £104,891
England.—(V. Ill, p.
APPALACHIAN POWER CO.—Incorp. in Virginia in 1911.
Owns
land and water rights for 5 hydro-electric developments aggregating about
75,000 h.p. on New River, in Carrol, Pulaski and Grayson counties, Va.
Also owns and operates the local utilities in the towns of Bluefield, Marion,
Pulaski, Welch, Keystone, Pocahontas, Bramwell, Wytheville, Graham,
Christiansburg, Dublin and Galox.
Owns and operates 2 modern water
powers of 22,900 k.w.
house of 25,000 k. w.
installed capacity, and a modern steam
turbine power
capacity.
$6,000,000; issued, $6,000,000; pref. stock, 7% .
cum. after Oct. 1 1912 and red. after 3 years at
112 and div. authorized,
$2,500,000; issued, $2,180,000.
First M. bonds, auth.. $25,000,000: out¬
standing as of Dec. 31 1920, $9,167,000; retired by sinking fund, $502,000;
treasury bonds, $66,000.
Annual sinking fund for bonds (V. 93, p. 529,
874), 1916 to 1920, 1%; 1921 to 1925, 1)4%; 1926 to 1930, 2%; 1931 to
1940, 2)4%.
The $3,500,000 bond-secured gold notes due 1930 are se¬
cured by deposit of $6,000,000 2d mtge. 6% gold bonds.
Part of the
proceeds were used to retire the 7% collateral notes due Jan. 31 1920 and
the unsecured interest notes due Sept. 1 1920.
V. Ill, p. 75.
Common stock auth.,
REPORT.—Calendar years:
1920.
1919.
1920.
1919.
$168,000 $125,000
$1,616,452 Depreciation
55,102
14,293
792,810 Amort. ,disc.&exp.
76,579
752,081
576,937 Balance, surplus._ 110.163
earnings $2,265,611
Net income... 1,000,551
Gross
Interest chges.
V.-Pres., C. N. Mason; Sec. A Treas., L. W. Os¬
N. Y.—(V. 105, p. 2458; V. 106, p. 1902; V. 107, p.
108, p. 2331; V. 109, p. 1459: V. Ill, p. 75. 591.)
Pres., J. A. Trawick;
borne, 165 Broadway,
804, 1006, 1289; V.
April 14
L9ulst
ARMOUR & CO.—ORGANIZATION.—Incorporated in Illinois
Owns nlants in Chicago. Kansas City, South Omaha, East St.
1900.
completed a rod and wire mill capable of rolling 100 tons of copper
dally, marking entry into the metal manufacturing business. V.106, p.1895.
In 1918
share); to Nov. 1920, 2% quar.
The Feb. 1921 div. was omitted.
p.' 2478; V. 108, p. 1276, 2631; V. 112, p. 64.
BOND ISSUE .—Of the $50,000,000 ten-year Secured gold bonds
A
1913.
DIVS.—
59,600 shares of the Greene-Cananea
%l
J
Regular (%)-.
25
Extra (%)
100 stk
In 1921, Jan., 15%.
& etals Sellingin 1915 (V. 100. p. 735,1080); the capital stockV. 106,p. 1895;
1508), and Co.; 285,300 shs.of Inspiration Con. Copper Co. of the United
DIVS.
-
—-----
for
1914-18 were: Plants of the Inter¬
98, p. 1319. 1457, 1596; V. 100.
1919 see V. 108, p. 81. 2020.
In Sept. 1918 acquired the Walker mine of California from the
Mining Co.. at a price said to be $660.000.—V. 107, p. 1103.
1 1921 1H
&
fund of not
1895.
Federal
V. 107, p.
In 1916
Apr
I
D June 1 1939
15 *21-'24 Chic
J A D 15 J'ne
g J
_
plants. Ac.. V. 102, p. 707; V. 104, p. 1796; V. 105, p. 2545; V. 106. p.
From Sept. 1917 to July 2 1918 the price of copper was fixed by the
authorities at 23)4 cte.; then till Jan. 1 1919 at 26 cents.
V. 106, p. 193.
352, 2182; V. 107, p. 606, 804. Notice of voluntary dissolution of Northern
Montana Natural Gas Co., a subsidiary, filed with Montana Sec. of State in
2010.
Among the properties taken over in
national Smelting & Refining Co. (V.
New
Q—J
50%
In the
1916---
V. 106, p. 1346; V. 107, p.
New
New
The shareholders voted Nov. 21
1280.1371,1474, 1663.)
Sept. 1919, V. 109, p. 1275.
In 1917 began producing manganese.
New
50,000,000 New
50,000,000 New
7
52,350.600
4H
50,000,000
6 g
7,641,900
7 g
60,000,000
£2,000,000 to £3,000,000, holders having the right to subscribe for the
stock pro rata at $7.50 per share in the U. S. and at £1 lis. 6d.
United Kingdom (par £1) till Feb. 28.
English shareholders were then
prevented by war regulations from subscribing for this new stock, but were
given till Sept. 6 1919 or later to complete their purchase. V. 109, p. 889;
V. 105, p. 1710, 2096, 2457.
a
The 5-year sinking fund g. 7 )4 % notes are redeemable , all or part, or
sinking fund, at par and int., plus a premium of 1 % for each year or portion
of year from date of call to maturity .
A semi-anunal sinking
less than $1,250,000 begins April 1 1922.
ANACONDA
COPPER MINING
CO.—ORGANIZATION.—Incor¬
porated in Montana June 18 1895 and was for many years the
oper¬
ating subsidiary of the Amalgamated Copper Co., a holdinsr company
solved In 1915, the Anaconda taking over its assets (V. 100, p. 1594).
New
leading
Jan
new
Batchelder,
AMOSKEAG MFG. CO.—(V. 111. p.
Jan
A
F
1.13
1920
NY
1 1929
jNat City Bk & Gu T.NY
do
do
1 1929
See
text Jan 15 '21 15% Guar TrCo, N Y, Lon Ac
J P Morgan A Co, N Y
A
&
O April 1 1925
1st Nat Bk, NY A CO
J
a
D June 1 1941
Bankers Trust Co. N Y
MAS Sept 1933
Bankers Trust Co, N Y
F
A
A Feb 1 1930
&
100
1911
Places Where Interest and
Dividends are Payable
*20 2% National City Bank.
Nov 22
$50 $116562 500 See text
6 g
1.000 25,000,000
7 g
&c 25,000,000
£1
£3.000,000 See text
15.000,000
500 Ac
9.167.000
1.000
6 8
Pledged
1.000
7 g
3.044.600
100 &c
1920
xxx.G.c*
1
capitalization—
Bate
Outstanding
1919
1919
$5,000,000-1
Armour & Co—
Amount
Value
G.yc»
Second mortgage
Bond
Par
Bonds
MISCELLANEOUS COMPANIES
112.;
[VOL.
BONDS
INDUSTRIAL STOCKS AND
153
Joseph, Mo., Denver, Col., South St. Paul, Hamilton
Can., England and Argentina, incl. packing houses, glue works, soap works
warehouses, refrig. stations, tanneries, Ac., Ac.
See application to list,
V. 90, p. 370, and V. 95. p. 546: V. 98. p. 1002.
In Jan. 1917 acquired
four large tanneries In Western Pennsylvania.
V. 104, p.75, 2013, 2110.
A new packing plant at St. Paul was opened
in the fall of 1919. The South
American plants at Sao Paulo and Sant' Anna were placed in operation in
May 1920 and Jan. 1920. respectively. V. 110, p. 358. War restrictions in
1917-18, V 105, p. 2325; V. 106, p. 1902. Chicago Stock Yards Co., V. 106,
p. 193.
Relations with Trade Commission, V. 107, p. 183, 606; V. 108,
p. 482; V. 109, p. 373, 579.
The* "Big Five" packers in Dec. 1919 agreed to the entering of a decree
in the Government suit requiring them within two years to give up their
stockyards and other outside interests (except their handling of eggs, but¬
ter, poultry and cheese, which is left for future consideration) and in general
to confine their operations to wholesale meat business. See V. 109, p. 2358.
On Jan. 14 1920 announcement was made of the formation of the Armour
Leather Co., which Would take over the leather and tanning properties of
Armour A Co.
Preferred stockholders of Armour A Co. of record Feb. 2
1920 were offered the right to subscribe to the stock of the leather company.
V. 110, p. 263.
(See below.)
To sell control of Fruit Growers' Express; sale of grocery concerns.
V.
Ill, p. 2327.
The Court in Feb. 1921 authorized the sale by the company
of its interests in the Chicago and Denver stock yards.
V. 112, p. 851.
Dissolution plan approved by Court.
Compare Swift & Co. below and
Fort Worth, Tex., St.
V. 112, p.
1626.
Recapitalization.—The stockholders on July 28 1920 ratified a plan in~
creasing the authorized capital stock from $160,000,000 to $400,000,000*
The plan provides for an authorized issue of $300,000,000 Common stock»
divided equally into class "A" and class "B" stock, and for an increase of
$60,000,000 to $100,000,000.
Holders of the Common
each share of Common stock of the par value of $100 held
Preferred stock from
Total receipts,
$101,610,254$102,606,287$150,486,317
Copper, silver A gold on hand Jan. 1_$28,705,375 $27,865,266 $32,966,589
Mining, transp'n, reduc'n, depr'n, Ac. 67,869,973
68,361,234
96,040,325
stock received for
and two shares of class "B" Common stock,
According to the plan, this was to be followed by the
dividend, payable in Class B stock.
This, however,
has been only partially cariied out by the declaration of the payment of
50% Class B stock dividend to such stockholders in December last, further
two shares
par
of class "A" stock
value $25 each.
declaration of a 100%
Total disbursements..
Total net income (including interest)
Interest
—
Dividends.-----Rate of dividends
.$96,575,348 $96.226,500S129,006,914
$5,034,906
$6,379,787 $21,479,403
$2,343,243
$1,276,146
$676,533
6,993,750
9,325,000
17,484,375
(6%)
(8%)
(15%)
_
ction in respect
Of
Balance, for year
def$4,302,089 df$4,221,359 sr$3,318,495
DIRECTORS.—John D. Ryan (Chairman). C. F. Kelley (Pres.), B.
B.
Thayer (V.-Pres.), Geo. H. Church. Andrew J. Miller, William Rocke¬
feller, Nicholas F. Brady, J. Horace Harding, A. H. Melin (Sec. & Treas.).
—(V. 112, p. 64, 164, 473, 654, 1027, 1401, 1970.)
ANGLO-AMERICAN OIL CO.—ORGANIZATION, &o.—Incorporated
England In 1888.
Markets most of the oil of the Standard Oil Co. of
is the largest marketing concern there.
Owns a large number of tank steamers, chiefly used in trade with the United
Kingdom.
Formerly controlled by Standard Oil Co. of N. J. but segre¬
gated in 1911.
See Standard Oil Co., V. 85. p. 216. 790; V. 93, p. 1390.
Acquired the Home Oil Refining Co. in April 1920.
V. 110, p. 1644.
Reports in Dec. 1920 that the company had obtained from the Abyssinian
Govt, a 50-year petroleum concession for the entire eastern half of the
Province of Harrar, Abyssinia, including provisions for a 5-year period for
in
N. J. In the United Kingdom and
prospecting.
Y. Ill, p. 2426.
thereto having been
conditions affecting the
postponed by the directors, owing to
part of the year." See
industry during the latter
th"e'Preferred stoSc'authorized, $7,649,400 is reserved, into which a
1919,
6% serial convertible gold debentures of June 15
outstanding, may be converted.
■
Of the Class "A" Common stock $60,000,000 will be reserved to
able for exchange for the 7% ten-year convertible gold notes,
new
The Class
Common stock will be of $25 par value and will have prefer¬
ence as to cash dividends up to 8% over Class "B" Common stock, and after
like amount of the
now
be avail¬
the
issue.
8% has been paid on
Class "B" stock in any year
both classes of Common
alike in percenatge of additional dividends paid during such
Each share of Class "A" Common stock shall be entitled to all
rights of any share of Common stock of the company.
.
So long as the earnings justify, it is the expectation to pay dividends at
stock will share
the
year.
the rate of 8% per annum on
DIVIDENDS—
Common
the Class "A" Common stock.
V. Ill, p. 297.
1912. 1913-16. 1917. 1918. 1919.
1920.
1911.
10%
Preferred
On
preferred, Oct. 1 1918 to Apr.
10% yrly.
2%
2%
1H%
1921, 1H% quarterly.
2%
7%
See
text
MAY, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on page 6]
STOCKS
Date
Par
Amount
Bonds
Value
$15
.
$25,000,000
First mtge gold annual sinking fund
5% of bonds out
First &Ref mtge $25,000,000 call at par.
88,
100
100
39,755,634 6 in 1920
1,000
1.000
1910
None
1920
1921
500
April 1916.
company's option
&c
100
&c
100
1908
500
They
at par on any
to be used to
reduce current liabilities resulting from
increased busi¬
ness
and heavier inventories. V.
106, p. 2561.
In Nov. 1920 all except
$7,650,000 had been converted.
V. 108, p. 275, 2435.
The $60,000,000 7% convertible debentures issued in
July 1920 are con¬
vertible on and after Jan. 3 1921,
par for par, into Class "A" Common
6tock.
Redeemable at 105 and int.
without equally securing this issue.
No additional
mortgage can be made
V. Ill, p. 297.
REPORT.—For year ending Oct. 30 1920, in V. 112,
p. 367, showed:
For Years ending
Oct. 30 '20.
Nov. 1 1919.
Nov. 2 '18.
Gross sales
$900,000,000 $1,038,000,000 8861,000,000
Income from manufac. & sales,
oth. inc. aft. op. exps., taxes,
depr., &c., &
res.
Interest
on
Interest
on
Interest
These
27,186,124
2,243,835
2,518,396
8.117,386
208,000
26,128,610
2,286,986
1,203,563
7,178,224
212,000
*$5,319,975
2,000,000
3,087,664
$14,098,506
986,123
&c
*$232,311
$11,112,384
$13,210,555
items not
reported
Income for year
(2%)
Preferred dividend (7%)
2,000,000
*
OFFICERS.—Pres. and Gen. Mgr., J. Ogden
Armour; V.-P., C. W.
Armour, Arthur Meeker, A. Watson ^Armour, Phillip D. Armour, F. W.
Oroll, F. Edson White, Laurance H. Armour, Everett
Wilson, Frank W.
Waddell and E. A. Valentine; Sec., G. M.
Willetts; Treas., F, W. Croll.
Office, 208 La Salle St., Chicago, 111—(V. 112, p. 64, 164,
367, 374, 654,
747,851,935,1027,1285,1619.)
LEATHER CO.—Organized under laws of Delaware in
1920 for the purpose of acquiring all of the
tanning companies and
leather assets owned by Armour & Co.
(See V. 110, p. 660.)
STOCK.—7% cumulative preferred, authorized $25,000,000
outstanding, $10,000,000; par, $100; common, authorized and outstand
Ing, $15,000,000 (of which $4,500,000 is reserved to be offered to
employees
and customers of the company);
par $15; founders' stock, authorized and
outstanding, 100,000 shares, no par value.
The founders' stock was ac¬
quired by Armour & Co. at $5 a share.
Holders of Armour & Co. pref.
a
offered the
privilege of subscribing to the stock
of the new
co.
EARNINGS.—The annual report for the year ended Oct. 31 1920 shows
$4,313,653, compared with a net income of $8,407,941 in 1919.
deficit of
DIVIDENDS.—After pref.
shall
be
available for
dividends, thei remaining surplus earnings
dividends
on
the
common
and
founders'
stock
in
equal aggregate amounts.
For a period of three years (1920, 1921 and
1922) dividends on the founders' stock shall be limited if earnings are less
than $4,000,000. V. 110, p. 660.
An
1 1934
1 1926
D
F
&
A Feb
Checks mailed
New York and
initial div.
from Mar. 1 to
on
pref. stock at the rate of 7% per ann, for the period
was paid on Apr. 1 1920; to Apr. 1 1921, 1 % % quar.
V. 112, p. 1027,
Initial
period from Nov.l 1919 to May 1 1920 was
On Sept. 1 1920 paid 30 cents (2%); none since to May
Apr. 1
The Apr. 1921 div, was paid by Armour & Co.
div. on com. of 60 cents
(4%) for
paid May 1 1920.
1921.
Owns
and
CO.—ORGANIZATION.—Incorp.
leases
mineral
producing fields in California.
locations
Also
in
in Cal. Oct. 5
adjacent to various
and
stockholdings, notably $3,500,000 of
$7,000,000 stock of Associated Pipe Line. $2,500,500 of the
Amalga
mated Oil Co.'s $5,000,000. See V.
90. p. 1484. Also acquired in 1919
55%
of Reward Oil Co., 51 % of New
Hope Oil Co. and 61 % of Western Minerals
Co. outstanding stock. V. 110,
j). 1746.
In Jan. 1920 purchased 32 pro¬
ducing wells and 800 acres of oil land in the Coalinga district from
the
Nevada Petroleum Corp.
opened in Aug. 1920.
V.
lands, V. Ill, p. 795.
the*
V.
Ill
110, p. 361.
A new refinery at Avon was
p. 495.
Compromise with Govt, as to oil
The Southern Pacific Co., which
acquired control in 1908-09 and on Dec.
31 1919 owned $20,069,000 stock and $8,612,000 of the
$8>810,000 1st Ref.
5s, disposed of its stock holdings to the
newly organized Pacific Oil Co.,
which see.
DIVS.—1905. 1906.
In Jan.
1907. '08-'12. T3-T4. 1915. *16. '17. *18. '19. *20
3
1M% 1M%
None.
3 yrly. 4M
4
5
5
5
6
1920 paid 1M%. increasing annual rate from
5% to 6%; to Apr.
1921, IH%
quar.
BONDS.—Of the $25,000,000
first Refunding bonds, sufficient are
5s of Aug. 1 1922.
V. 75, p. 1149; V. 102,
1538; V. 101, p. 1888; V. 88, p. 1432.
$1,264,000 was held in treasury
reserved to retire the 1st M.
p.
Dec. 31
1920.
REPORT.—For calendar year 1920:
Calendar Year—
1920.
receipts
1919.
1918.
1917.
..$51,961,248 $38,521,167 $31,243,481 $28,188,565
13,620,024
10.799.354
11,076,993
7,721,363
2,555,035
2,327,623
3,863,287
1,260,357
2,257,271
2,401,388
2,672,399
2,619,217
(6%)2,385,348 (5)1,987,811 (5)1,987,832 (5)1,987,834
Net earnings
Interest, taxos, &c
Depreciation
Dividends.
Balance, surplus..... $6,422,370
$4,082,531
$2,553,475
$1,853,954
Paul Shoup; Treas., W. A. Sloan; Sec., P. G.
Office, Sharon Bldg., San Fran.—(V. 112, p. 1520, 1980.)
OFFICERS,—Pres.,
Williams.
ATLANTIC FRUIT CO.—Incorp. in Del. on Nov. 18 1912.
The com¬
pany is engaged in the business of owning and operating
banana, cocoanut
and sugar plantations in the islands of Cuba and
Jamaica, and of
distributing and selling bananas and other tropical fruits.
It has a sugar
factory at Tanamo, Cuba, in the process of construction, and
commencing
about Dec. 1921 will engage in the manufacture and
importation of sugar.
Also owns and operates steamships for use in the
importing business above
mentioned
and in
general trade.
CAPITAL STOCK.—Authorized, 1,000,000 shares; outstanding, 395,000
shares; no par value.
,
BONDS.—The 7% convert, debens, due Dec. 1 1934 are
callable, all or
part, at 110 and int. to Dec. 1 1924, thereafter to Dec. 1 1929 at
107M and
int., thereafter to maturity at 105 and int.
Convert, into common stock at
rate of $100 face value of debentures for two shares
of com. stock.
Sinking
fund provisions, &c., V. 109, p. 2441.
The 8% convert, notes due Feb, 1 1926 are convert,
into common stock
at the rate of one share of stock for each
$20 of principal.
Shareholders of
record Jan, 28 1921 were entitled to subscribe at
par and int. for $100 of
V. 112, p. 565.
EARNINGS.—For cal. year 1920: Profits from oper., $2,084,418; sur¬
plus, $1,058,619; total surplus, $1,796,438.
V. 112, p. 852, 935.
such notes for every six shares of stock held.
OFFICERS.—Pres., N. A. Macleod; V.-P. & Treas., T.
Sec., H. B. MendenhalJ.
Office, 61 Broadway, N. Y.—(V.
565, 852, 935.)
O. Muiler;
112, p. 65,
ATLANTIC GULF OIL CORP.—(V. 112, p. 852, 1027, 1619, 1869.)
ATLANTIC GULF & WEST INDIES STEAMSHIP LINES.—Incorp. In
OFFICERS.—Chairman, Frank G. Allen; Pres., Henry W. Boyd, Chi¬
V.-Pres'ts, M. C. Weimar, Chicago; F. C. Von der Heide, Boston;
cago;
M. P. Brennan, Olean, N. Y.;
Philip L. Reed; Treas., James E. Hartwell,
Chicago; Sec., C. B. Eldridge, Chicago.—(V. 112, p. 852, 1394.
ARMSTRONG
CORK CO.—(V.
112,
p.
65.)
Maine Nov. 25 1908 as successor of the Consolidated SS.
Lines (V. 87, p. 287.
1013, 1090) and owns nearly all the stock of the Clyde, Mallorv, N. Y. &
Cuba Mall SS. Co..and all of the stock of the N. Y. & Porto Rico
SS.Oo,
and the
Compania Cubana de Navegacion.
Also controls the Agwi Petro¬
leum Corp., Ltd.,
organized in England, and a number of smaller companies.
For complete list of controlled
companies and stocks and bonds owned,
see
ASSOCIATED
DRY
GOODS
CORP.—ORGANIZATION.—Incor
rited in Virginia to all 24 1916 and In Aug. 1918 succeeded, per planCo.
In
102, p. 69, 64, May the properties of the Associated Merchants
and United Dry Goods Co., viz. (V. 103,
p. 1412):
(a) Retail dry goods
stores wholly owned,
with net tangible assets valued Dec. 31 1920 at
$18,758,475, viz., James McCreery & Co., New York (V. 105,p.
Hahne
1421);
&
Co., Newark, N. J.; Stewart & Co., Baltimore; Wm.
HenCo., Buffalo; Powers Mercantile Co., Minneapolis; J. N. Adam & Co
Buffalo; Stewart Dry Goods Co., Louisville, Ky.
(b) Adrico Realty Co.
owning equity in McCreery real estate. West 34th St., N. Y., $1,600,000
(V. 103, p. 1208.)
(c) Other investments now including Lord & Taylor
1st pref. stock, 14,061U. shares, 2d pref. stock, 15.338 shares, common
stock,
24,432 shares, par of each $100 a share, and $500,000 7% debenture bonds,
due Jan. 1 1923; C. G. Gunther's Sons. 2,000 sh. common stock:
Surety
Coupon Co., all capital securities. $200,000; Associated Dry Goods Corp. of
N. Y., all capital securities, $25,000.
The aforesaid seven retail dry goods companies, whose
capital securities
are wholly owned, had on Dec. 31 1920
tangible assets. $24,861,587; liabili¬
ties, $6,103,112; net assets, $18,758,475.
gerer
.
CAPITALIZATION.—Of the capital stock as shown In table above
there was on Dec. 31 1920 $19,400 in treasury
and
$5,050 held against
undeposited stock of Associated Merchants Co. and United Dry Goods Co.
V.
Ill,p. 602.
In August 1920 owned 75
ships, and 14 other ships were chartered and
operated for the company's account, while 88 ships owned by the Shipping
Board were operated for account of the
Shipping Board
of 1M% were paid on the 1st pref. stock
Sepfc 1 1921.
On 2d pref. stock (No. 1), 134% Mar. 1
1918, quar. to Sept 1 1921.
On com., initial div. of 1% paid May 1 1920;
same amount paid quar. to Aug. 1
1921.
REPORT.—Cal. year 1920. in V. 112, p. 1394:
Yrs.—
1920.
1919.
1920.
Profits.
1919.
sales_$l,831.928 $4,244,486 Net profits...$1,916,569 $3,297,375
2,180,090
4,362,331 Dividends.
1,746,836
1,297,586
Interest, &c__
31,022
64,955 Balance, sur..
169,733
1,999,789
Fed.tax res've
232,500
1.000,000 Tot.p.&1 .sur. 4,876,357
4,673,459
Total income.
___
on a
fee and com¬
mission basis.
Twelve steel tank steamships contracted for were due to be
delivered between Nov. 1 1920 and
See V. Ill, p. 601.
July 1 1921.
The Atlantic Gulf Oil
Corp. of Virginia, of which the company owns
53 3^ %, owns or controls four
producing wells in Mexico located about 75
Tampico.
Compare V. Ill, p. 601.
Steamship Co., early in 1920, acquired by purchase the steam¬
ship interests of Edw. M. Raporel & Co., Inc.
V. 110, p 766.
Interest in pipe line to be built in France, V. 111, p. 1795; V. 112, p. 852.
In March 1921 was reported to be
negotiating for the sale of its oil proper¬
ties and tanker fleet.
V. 112, p. 1285.
miles south of
The Clyde
STOCK.—Both the company's stocks
change In July 1916.
were listed on N. Y. Stock
Ex¬
See official statement to the Exchange as of June 21
describing the properties, stock rights, &c.
V. 103,
p.
15/ to 161.
DIVIDENDS.—On pref. stock No. 1. Apr. 10 1916, 1%; July 1,1%;
—V. 102,
p. 977, 1061.
In Oct. 1916 a dividend of 1 *4% was paid. In¬
cluding M % for the Apr. and M % for the July dividends, thus placing the
pref. on a 5% basis; Jan. 1 1917 to Jan. 1 1920, both incl. (declared) 5%
per ann. (1M% quar.).
V. 108, p. 881.
In Mar. 1920 declared
5%, payable in quarterly installments, Apr. 1,
July 1 and Oct. 1 1920 and Jan. 1 1921.
No action taken on May 1921 div.
,
DIVIDENDS,—Dividends
Dec. 1 1917 quar. to
Cat.
San Fran
New York
importing,
ARMOUR
were
Dec
&
1930
1394.)
on
Earnings and reserves accumulated by the foreign connections and not
included in previous annual reports were
brought into the statement for the
year 1919-20 to offset losses in the United States.
stock
15
J
ASSOCIATED OIL
1901.
Total
Balance, surplus.___________
CAPITAL
Jan
OFFICERS.—Samu3l W. Reyburn, Pres.; Charles A.
Gould, Theron S.
Atwater and O. P. Perrie, V.-Ps.;
Ralph M. Stauffen, Sec. & Treas. The
directors include the foregoing officers and also
Cornelius N. Bliss Jr.,
Gates W. McGarrah, Thomas
Cochran, Chas. A. Sargent Jr.. Louis Stew-,
art, Ed. L. Hengerer and Howland Davis.—(V.
112, p. 65,
$15,247,837
2,000,000
37,282
bonds
debentures
loans.
Pension fund.
Feb.
_
Per cent—
for Fed.tax
on current
Common dividend
J-J 15
Is
Where Interest ana
Dividends are Payable
14,999,200 10 In '20 F
&
A Feb 1 1921
5% New York
14,996,400
5
See text
Q—J
do
11,048,500
J
&
J Jan
1 1959
Equitable Trust Co. N
12,985,000
semi-an. See text
New York
6,807,375 See text
See text May 20 '21, 2
M Checks mailed
25
V. 102, p. 1542.
Q—J 15] Apr 25 21 1M
&
A Aug 1 1922
F
5
5 g
10,000,000
6,000,000
100
interest day as a whole or as entire series
in the order of their maturity.
They are
convertible
on
and after
Sept. 1 1918, par for par, into the 7% cum, pref. stock.
No additional
mortgage can be rnpde withou* securing .his issue.
The entire proceeds
were
1,403,000
7,875,000
395,000 shs
Places
Aug 1 1921 1%
Sept 1 1921 1 M Checks mailed
Sept 1 1921 Wi,
Q—M
Q—M
7
Dividend
Maturity
Sept 1 '20. 30c.
Apr 1 1921 1H
Q—J
14,999,200 See text
14,996,400
6
The $60,000,000
convertible debentures Issued In June 1918 ma¬
ture $10,000,000 yearly on June 15 from 1919 to
1924. but are redeemable
at
and
text
12,985.000
1374; V. 104, p. 665.
p.
Last
7
100
subject to call as a whole on any Interest day at 102
M and Interest on
12 weeks' notice, and since Dec. 1 1914 In blocks of
not less than 10%.
are
V.
See
When
100
BONDS.—Of the "Real Estate 1st Mtge." 4Ms
($50,000,000 authorized
sold In
See text
153
Payable
100 $10,000,000
See text
1902
US
Atlantic Fruit Co—Capital stock 1,000,000 shares
30-yr s f conv g deben Ser A $20,000,000
G.c#
5-yr convertible notes red par
Ati O & W I SS—Com stk $20,000,000 listed on N Y Stk
Ex.
Preferred (a & d) stock $20,000,000 5% non-cum
Collateral Trust M g red text
Eo.xx
Bonds of sub. cos.
(less amts. In treas.. &c.)
Atlantic Petroleum Corp—Stock $7,000,000 auth
were
Rate
None
1st pref(a & d) stock 6% cum after Dec 1 1917
$20,000,000
2d pref (a & d) stock 7 % cum after Dec 1 1917
$10,000,000
Associated Merchants—See Associated Dry Goods Com.
Associated Oil Co—Stock
issue), final $20,000,000
BONDS
Outstanding
Armour Leather Co—Common stock authorized
$15,000,000
Preferred stock (a & d) 7% cum call 115 auth
Founders' stock authorized 100,000 shares
Associated Dry Goods Corporation.
Common stock $20,000,000
AND
,
.
V.
112, p. 1869.
,
An initial dividend of
5% was paid Feb. 1 1917 on the common stock
Aug. 1917 5% and 1% to Red Cross; Feb. 1918 to Feb. 1921,5% semi-ann.
BONDS.—The auth. Issue of collateral trust 5% gold bonds is $15,000,Tne $2,000,000 unissued can only be put out on vote of 66 2-3% of
Redeemable at 105 and Int. on any date by lot
No foreclos¬
ure proceedings can be
brought for default In tnt. for less than 2 years.
V. 88, p. 160.
All coupons free of Federal income tax.
000.
pref. stocx.
INDUSTRIAL
154
Dale
&c., see notes on page
61
Par
Amount
Rate
When
Last
Value
Outstanding
%
Payable
and
Maturity
After deducting $1,403,425
Bonds of
in sinking fund,
Sub. Companies $13,667,000 Dec.
15.000,000
o
5,514,625 See text
8
9.000.000
text
95.000 shs. See
100 &C
1921
100
100
None
(incl. sub. cos.),
:
Operating revenue
Net operating revenue
Other income
Gross
-
100
100
100
1,000 &C
1,000
1910
1908
ctlng $ 2.600,000
Rentals,
—
1934
1932
1932
1937
1932
1921
11931
1
1
1
1
1
(V.91.P.1887)
(V. 89. p. 229)
(V. 88. P.235
(V.95, p. 1748)
(V. 83. p. 194)
j
(V. 82. p. 807)
V^lll. p. 585, WH:
&c_l—
$5,534,331 $17,275,776
$1,300,394 $1,347,737
750,000
5,400,000
$8,964,797
$1,249,299
1,379,940
759,953
880,527
'773,950
$5,575,605 $2,709,987 $9,647,513
From income as above in 1919, $5,575,605, deduct pref. dividends (5%),
$687,146; common dividend (10%), $1,496,340; divs. on sub. cos. stock not
held by A. G. W. I., $32,693, leaving a balance of $3,359,427.
Net income
OFFICERS.—Chairman, Galen L. Stone; Pres.,
Office, II Broadway, N.
Treas., R. C. MacBain.
1869, 1980, 2086.)
ATLANTIC LOBOS OIL
F. D. Mooney; Sec. &
Y.—(V. 112, p. 1611.
PETROLEUM CORP.—Incorp. in Ya. March 5 1917.
lease 2,740 producing acres and 32,318 un¬
developed acres In Oklahoma. Kansas and Texas; number of wells, 156,
with an average dally production of 2,012 barrels.
CAPITAL
March 11 1921 the stockholders voted to
$5 to $25 and to exchange five shares of old for
stock.
STOCK.—On
DIVIDENDS.—Initial div. of 2X% was paid on Jan.
REPORT.—The income account for the
20 1921.
cal. year 1920 shows; Gross
income, $3,202,451; expenses, $690,612; abandoned and canceled
$319,940; reserves for 1920 Federal (est.) taxes, $25,000; reserve
leases,
for de-
Ereciation and depletion, $463,834; reserve for drilling(being initial div.
costs, $657,470;
alance, surplus, $1,045,595; deduct dividend of 2X%
paid Jan. 20
Dec. 31
1921), $170,184; balance,
1920, $1,085,430.
$875,411; profit and loss surplus
OFFICERS.—Pres., H. N. Greis; V.-Pres., F.
Sec. & Treas., D. C. Bothwell.
Office,
Buck;
p.
M. Aiken and Chas. H.
Tulsa, Okla.—(V. 112,
164, 260.)
ATLANTIC REFINING CO.—ORGANIZATION, &c.—Incorporated
Pennsylvania in 1870.
Has refining plants at Philadelphia, Franklin
and Pittsburgh, Pa., and Brunswick, Ga.
Formerly controlled by Standare Oil Co. of N. J., but segregated in 1911.
In June 1917 acquired 52%
of the stock and all the outstanding bonds of the Gulf Coast Oil Co. of
Houston, Tex., with properties situated in the Gulf Coast district of Texas.
V. 105, p. 821; V. 107, p. 292, 1483.
Tax decision in March 1918, V. 106,
p. 1232.,
Acquisition of interest in Superior Oil Corp., V. 110, p. 2393,
2490; V. Ill, p. 795.
The Atlantic Refining & Asphalt Corporation, a subsidiary of th«
Atlantic Refining Co., was incorporated in New York State in Jan. 1919
with an auth. capital stock of $10,000.
V. 108, p 482.
The Atlantic Oil
Products Co. controls the Panuco-Boston Oil Co. of Mexico, the Atlantic
Oil Shipping Co. and the Irvine Development Co., and is interested in the
Producers Terminal Corp. of Tampico, Mexico.
in
STOCK.—The shareholders voted Oct. 6 1919 to increase the auth. com.
$50,000,000, and to create $20,000,000 7% cum.
(non-voting) Pref. stock.
This last having been underwritten, was offered
for subscription at par on or before Nov. 1 1919 to shareholders of record
Oct. 6 1919.
Pref. stock is redeemable as a whole after Nov. 1 1924 at
115.
The new common stock will remain in the tiesaury.
Y. 109, p.
679,1276.
Dividends on common stock Dec. 1914 to June 1921, 5% quar.
Initial
stock from $5,000,000 to
div. of 1 %%
on
pref. paid Feb. 2 1920; same amount paid quar.to
May 2
1921.
6X% gold debentures are red., all or in lots
of $500,000 or more, at 103^ and int. on or before March 1 1922, and
thereafter at X % less for each half-year or part thereof, but not at less
than lOOMs and int.
Sinking fund, $500,000 p. a., commencing March 1
BONDS.—The $15,000,000
1922.
V. 112,
p.
565.
$8,871,046
1,000,000
1735:
1918.
1917.
$7,409,490 a$9,006,316
1,000,000
1,000,000
$7,871,046
$6,409,490
REPORT.—For calendar year 1920, in V. 112, p.
Calendar Years—
1920.
'
1919.
1
$10,513,694
Profits after taxes.
Common divs. (20%)-.Preferred dividends (7%)
Balance, surplus__.J_
1,000,000
1,376,851
$8,136,843
Profit and loss surplus,.$66,362,073 $56,324,453 $50,952,880
a After adding
$371,946 for appreciation of inventory.
$8,006,316
$48,468,257
OFFICERS.—Pres., J. W. Van Dyke; V.-Ps., W. P. Cutler, W. M. Irish;
Anderson; Treas., Albert Hill.
Office, 3144 Passyunk Ave.,
Philadelphia, Pa.—(V. 112, p. 164, 473, 565, 654, 1619, 1735.)
Sec., W. D.
ATLAS POWDER CO.—ORGANIZATION.—Incorp.
Oct. 18 1912 in
Delaware, pursuant to decree of court in suit of United States of America
E. I. du Pont de Nemours Powder Co.
Commenced business Jan. 1
vs.
1913, having taken over a number of the plants and a portion of the business
I. du Pont de Nemours Powder Co.
The nature of the company's
the manufacture, storage and sale of explosives and blasting
of E.
COMPANIES.—The
&
&
New
N Y
York
mailed
Checks
do
do
Phila. & Brown Bros,
Penn Co for
NY
Ins,&c. Phila
cloth, lacquers and lacquer
enamels; Celluloid
CAPITAL
$10,000,000
STOCK.—Authorized,
common,
lacquers and
corporation,
$10,000,000
preferred; outstanding, $5,514,625 common, $9,000,000 preferred.
The
preferred stock is preferred as to assets and dividends and is redeemable in
whole or in part on Aug. 1 1925 or on any Aug. 1 thereafter at 110 plus
accrued
dividends.
1914.
1915. 1916. 1917. 1918. 1919. 1920.
1921.
11X
25
26
21
12 c22 3,3.—, —
3
6
6
6
6
6 114,IX,-vc 12% In cash and 10% in common capital stock.
* Also paid stock divi¬
dend amounting to $512,225.
DIVS.—1913.
6
1H
Preferred..
Net r"
Preferred
Common
Balance,
Sales.
Income.
Dividends.
Dividends.
Surplus.
$24,393,568 $2,567,095 (6)$540,000 *(12)$607,479al,319,616
19,107,340
1.660.089 (6) 540.000 (12)
600,288
519,801
1918
35,766,620
2,262,294 (6) 540,200 (21)1,050,504
671,590
a From which was deducted $1,032,402 for adjustment of raw materials
inventory to market value.
REPORT.— Gross
Cal. Year.
1920
1919
OFFICERS.—Pres.. W. J. Webster;
and W. A.
V.-Ps., J. F. Van Lear
Layfield; Sec.-Treas., Leland Lyon; Asst. Sec. & Asst. Treas., Isaac Fogg.
General office, 140 N. Broad St., Philadelphia, Pa.—(V. 112, p. 650, 654.)
ATLAS TACK CORP.—Organ, in N.
Y. on Jan. 30 1920 and is
engaged
manufacturing, buying, selling and generally dealing in
beads, rivets, eyelets, screws, bolts, nuts
manufactured from metals or alloys.
In the business of
all kinds and varieties of tacks,
and other wares
outstanding, 95,000 shares;
par value.
DIVS.—Quarterly divs. of 75 cents per share were paid in May,
Nov. 1920.
The Feb. 1921 div. was omitted.
V. 112, p. 65.
Aug., and
Bancroft and B. Brooka
Bonnell, V.-Pres.; Chas. F. Holbrook, Treas.; Ralph Hornblower, Sec.
Office, 140 Nassau St., New York.—(V. 112, p. 65.)
OFFICERS.—Wm. F. Donovan, Pres.; Chas. S.
AUSTIN, NICHOLS & CO., INC.—ORGANIZATION.—Incorp. in
Virginia, Aug. 23 1919, succeeding company of same name, incorp. in New
York, in 1912.
Business established about 1855.
In Aug. 1919 acquired
(a) the entire capital stock of the Fame Canning Co., owning eight vegetable
canning plants in the Middle West, (6) 51 % of the Capital stock of the Wilson
Fisheries Co.
(minority holdings acquired in Nov 1920), owning two plants
in Washington, and three in Alaska; and (c) the
for the canning of salmon
Whitland, Ind
vegetable canning and condiment plant of Wilson & Co.,
along with the privilege of using certain of the latter's grocery product
brands.
In Dec. 1919 purchased the William M. Hoyt Co. of Chicago,
wholesale grocers,
Warehouses and factories in New York City. Utica,
Watertown and Ogdensburg, N. Y., New Haven. Waterbury, Bridgeport
and Norwich, Conn., Chicago and Los Angeles.
Y. 109, p. 579, 2358.
,
STOCK.—Cumulative sinking fund for the redemption of the Pref. stock
not exceeding 115 and div. will receive from profits, commencing in
a sum equal to 3% of the Pref. stock issued.
No mortgage without
2-3 of the Prer. stock.
Regular quarterly dividends of l%% paid on the
Pref. stock of the N. Y. Corporation, from Feb. 1 1912 to Aug. 1 1919; on
at
1921,
the
pref. stock of the new company
1921.
REPORT.—For year ended
paid 1 % % quar. Nov. 1 1919 to May I
Jan. 31 1921: Profits, $391,024; pref.
$385,000; surplus, $6,024.
V. 112, p. 1401
Harry Balfe, Chairman of Board; C
W. Patterson. Pres.
Kent Ave. and North 3rd St., Brooklyn, N. Y.—(V. 112, p.
AUTO CAR
divs.,
Main office,
1401.)
CO.—(V. 112, p. 565, 935.)
AUTO SALES CORP.—ORGANIZATION.—Incorp. in N. Y..
1917, successor to Auto Sales Gum & Chocolate Co., as per plan
Nov. 12
(V. 104,
2345; V. 105, p. 1900).
Manufactures automatic vending and weighing
machines, chewing-gum and chicle products, chocolate. See.
Plants at
New York and Chicago.
In Jan. 1920 acquired a 50% interest in the Peer¬
less Weighing Machine Corp., V. 110, p. 564.
p.
equally with the Common stock after
STOCK.—The Pref. stock shares
6% has been paid in any year on that stock.
No mortgage
of 2-3 of outstanding Pref. stock.
Both classes of stock
Stock Exchange in Oct. 1919.
DIVIDENDS.—On Pref. stock,
without consent
listed on N. Y.
initial div. of 1% paid May 15 1918;
July and Sept. 30 1918, 1% each; Dec. 30 1918, 2%; March 31 and
1919, 1% each; Sept. 30 and Dec. 31 1919, 1^% regular and
March 31 1920, 1X%'< Dec. 31 1920, 43^%, payable in pref. stock.
June 30
extra.
V. Ill,
March 1921 dividend was omitted.
31 1920, in V. 112, p. 473, showed:
$1,547,236: net profit, $134,121; other income, $74,141;
profit and loss charges, $62,654: reserve for Federal income tax, &c.,
$10,000; pref div. (cash), $39,795; pref. div. (stock), $119,385; bal., def.,
2231.
p.
REPORT.—For year ended Dec.
Gross
earnings,
$23,572.
•
.
*
>
F. Hurd, Pres.; John Brandt, V.-P. &
New York office, 13th St. & Van Alst Ave.,
City.—(V. 112, p. 473, 935, 1401.)
OFFICERS.—G.
F. E. Lang, Sec.
In
Gen. Mgr.;
Long Island
BABCOCK & WILCOX CO.—ORGANIZATION.—Incorp. in N. J.
1881 and manufactures water tube boilers, heaters, &c.
Stock auth.
$15,000,000 (Dar $100).
No bonds; no mortgages.
Dividend*
and issued,
7% per annum have been paid Q.-J. since 1906;increased to 8% p. a.
(Q.-J.) in July 1917; then to April 19 1,2% quar.
Extra divs. of 2% each
paid in Jan. 1920 and Jan 1921
In July 1917 also paid 1% to aid
"Red Cross" fund.
V. 105, p. 292; V. 104, p. 1492.
Plants at Bayonne,
N. J., and Barberton, O.
V. 107, p. 405.
The annual report for the year
ending Dec. 31 1920 shows: Gross earnings, $4,922,768; deprec'n, &c.,
$691,028; Federal taxes, $485,000; inventory, adjustment & reserves,
$1,538,936; divs., $1,500,000; surplus, $707,804; total surplus, 11,098,554.
of
were
V. 112. p. 1401.
OFFICERS.—Chairman, E. H. Wells; Pres., W.
G. Pratt; Sec., J. E. Eustis; Treas., J. G. Ward.
112, p. 1401.)
D. Hoxle; V.-P.,
N. Y. office, 85
Liberty St.—(V.
company
owns
the entire issued
capital stock of the following corporations: The Giant Powder Co., Con¬
solidated, a California corporation, engaged in the manufacture, storage
and sale of explosives; Giant Powder Co. of Canada, Ltd., a Canadian cor¬
poration, engaged in the
&
M
J
Apr 1 1921 2
1 193i 3
J Jan 1 1921 334
N May 1 1940
1 1928
J Jan
J Jan
Zapon Co., a New Jersey corporation, engaged in the sale of
lacquer enamels; Zapon Leather Cloth Co., a Connecticut
engaged in the sale of leather cloth.
A.
supplies and allied chemicals.
manufacture, storage and sale of explosives and
blasting supplies; Richards & Co.,
J
&
In sinking f und.
business is
SUBSIDIARY
Q—J
J
Empire Trust Oo,
D June 1 1931
&
J
15,000.000 8 in 1920
20.000,000 7 in 1920
7
20,000.000
a8,596,575
5 g
b2.400,000
no
1920 held under
change the par value from
one share or new par value
IX By check
None
See text
CAPITAL STOCK.—Auth., 100,000shares;
CO.—(V. 112, p. 164, 1744.)
ATLANTIC
On Dec. 31
May 1 1921
'21
May 2
Q—M
in the manufacture of leather
$45,587,264 $26,633,550 $48,212,055
$7,605,173 $4,651,464 $15,137,633
1,459,624
882,867
2,138,143
income
Bond interest, Ac
Federal taxes (estimated)
Nov 1 1921
text
5
94.300
100 &c
1911
Common..
REPORT.—For cal. year 1919
June 10
Text
"Q—'F"
150,000 shs
5,437,300
4,029,569
50
2,775,535 See
100
Maturity
M..5 A AO $447,000 Oct.
C N Y. Cuba Mall 88. Cp. 1st M-.6 J A J 5,689.000
Jan.
C N. Y. APorto RJcoSS. Co. lstM-6 MAN 1,307,000
May
b Carolina Terminal Co. 1st M
5 MAN
498,000 Nov.
c MaUory 88. Co. 1st M
6 J A J 2,441.000 Jan.
b U.S. A Porto Rico Nav. lstM„6MA 8
97.000 Mar.
C Clyde 88. Co. 1st M
5 F A A 3.188,000 Feb.
a Callable at par.
b Callable at 105.
c Callable at 110.
'21 3%
IX
75c. Checks mailed
Q—M
Q—F
$50
31 1919.
bClyde 88. Terminal Co. 1st
'21 5% Oo office, Phila, Pa
May 2 1921 1 %
S Mar 1 1931
&
M
None
b After dedu
Outstanding.
Int.
100
June 15
Q-M 15
Q—F
$5,000,000 20 In '20
20,000,000
$100
Atlantic Refining Co—Stock J50.000.000
F.q
Pref (a Sc d) stk 7% cum $20,000,000 non-vot call text. Ed
10-year
gold debentures red
(see text)
Eg.kxxxc*
Atlas Powder Co—Common stock auth $10,000.000—...
Preferred stock (a A d) 6% cum, $ 10,000,000 (see text).—
Atlas Tack Corp—Stock 100,000 sliares authorized—_ —
Austin Nichols St Co, Inc—Com stock 150,000 sharesPreferred stock 7% cum $15,000,000 call 115 sinking fundAuto Sales Corp—-Com auth $4,500,000
Pref (a & d) stock 6% non-cum partlc auth $3,000,000
Weighing & Sales Co sinking fund 5s
EM
Babcock & Wilcox Co.—Stock authorized $15,000,000——
Baldwin Locomotive Works—Common stock $20,000,000—
Pref (a & d) stock 7% cum $20,000.000red 125,beg July'16
First mtge $15,000,000 gold redeem text _-PeP.kvc*&r*
Standard Steel Works 1st M gold sink tund__PeP.kc*&r*
a
Where Interest and
Dividends are Payable
Places
Dividend
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations,
[VOL. 112.
STOCKS AND BONDS
Inc., a Connecticut corporation, engaged
(THE) BALDWIN LOCOMOTIVE WORKS.—ORGANIZATION.—
Incorporated In Pennsylvania June 1911 as a consolidation.
Works in
Philadelphia; foundries, shops. Ac., at Eddystone, Pa., and Burnham, near
Lewlstown, Pa.
Capacity 2,650 locomotives yearly.
V. 88, d- 1623.
See application to list, V. 92, p. 1105, and offering.
V. 92, p. 1703. In
May, 1921.]
155
INDUSTRIAL STOCKS AND BONDS
MISCELLANEOUS COMPANIES
[For abbreviations, &c.,
see
Date
Par
Amount
Rate
When
Last
Dividend
Bonds
notes on page 6]
Value
Outstanding
%
Pat/able
and
Maturity
Bar net Leather Co., I nc.—Common stock 40,000 shares
Pref. (a. & d.) 7% cum. s. f. stock, call. 115, $2,000,000
Barnsdall Corp—Class A voting stock $15,000,000 auth
Class B non-voting stock $15,000,000 authorized
S F conv bonds $15,000,000 auth call (text) kxxxc*&r * G
1921
25
100 &c
Barrett Company (of N J]—Common stock $25,000,000—
Pref (a&d) 7% cum, $12,500,000 red after 3 years at 120.
Barrett Co (of W Va) (controlled) deben call 110 In 1919
1899
1.000
1913
500 &c
None
_
.
text Q—F
40,000 sh. See
15
$1,980,000
7%
Q—J
10
Q—J 31
13,000,000
10
Q—J 31
4,250,000
J
&
J
0 g
8,000,000
Q—J
16,443.100 8 in 1920
7
Q—J
7.811.400
A
&
O
5 g
1.846.000
$100
...
25
100
100
Places
Where Interest and
Dividends
Payable
are
Aug 15 *20 $1.50
Apr 1 '21 IX %
Apr 30*21,2 X% Checks mailed
Apr 30 *21, 2 H Checks mailed
Jan 1 1931
N Y, Boston & Chicago
Jan 1 1921, 2% 17 Battery Place, N V
'
Jan
15 21. IX
do
do
Phila Land Ti & Trust
Apr 1939
Bell Tel Co of Pa—Cent Dist Tel 1st M s f red 105 $25,000,000
(assumed)
1st & ref. mtge s f Ser A red 107 X
FPlxc*
kc*
1920
100 &c
Bethlehem Motors Corporation—Stock 200.000 shares...
None
9,543,000
25,000,000
183,334shs.
shops at Eddystone, Pa., which were turned over
beginning of the war, but which reverted
June 30 1920.
V. 108, p. 875; V. 109, p. 75; V. Ill, p.
75.
European orders, V. 110, p. 2195, 2659.
STOCK.—Pref. stock cannot be Increased without consent of majority of
pref. shares outstanding.
V. 92, p. 1703; V. 93. p. 47.
DIVIDENDS.—On pref., 1912 to Jan. 1921. 7% (3^% s.-a.).
On
com., in 1912 to July 1915, 2% (J. & J.); none thereafter until Jan. 1 1920,
when 3X% was paid; July 1 1920, 3X%; Jan. 1 1921, 3X%.
S. Government at the
BONDS.—Of
1st 5s of
the
1910
Redeemable
as a
whole
1 1915 and by lot at 107 X for an annual sinking fund of
2% of the maximum bonds theretofore issued. V. 91, p. 40; V. 90, p. 1104.
1046; V.92.p. 1703);
sinking fund installments, aggregating $1,403,425,
were paid 1915 to 1920.
Standard Steel Works Co. has auth. $5,000,000
1st M. sinking fund 5s, of which $5,000,000 have been Issued, $2,600,000
having been retired by the sinking fund.
Sinking fund. $200,000 yearly.
V. 86, p. 232; V. 89, p. 1416; V. 92, p. 1245, 1703.
at 115 after May
REPORT.—For year ending Dec. 31
Gross
Gross
Bond
1920, in V. 112,
Year.
Income.
Sales.
$
1920- 73,542,666
1919- 84,307,776
1918-123,179,252
1917- 98,263,865
Int.,&c.
$
11,755,200
9,945,671
19,760,441
7,326,682
4,169,428
14,008,145
4,434,764
12,/40,486
p. 742, showed:
Com.
Balance,
Div.
Surplus.
$
'
S '
1,400,000 1,400,000
1,628,518
1,400,000
700,000
3,676,243
1,400,000
4,352,295
1,400,000
6,905,722
Pref. Divs
(7%).
' •'
$
Cal.
i
OFFICERS.—Chairman.
;
Vice-Chairman,
Wm.
Pittsburgh & New York
New York
1285, 1040.)
($16,000,000). $5,000,000 are reserved
and Improvements.
&
J. A. Dunn.
to the company on
for 75% of cost of extensions
D Dec 1 1943
O Oct 1 1945
&
A
OFFICERS.'—Pres., Robert Law, Jr.; Treas., J. T. Furlong; Sec.,
Office, 21 East 40th St., New York.—(V. 112, p. 935,1019,
1915 erected extensive new
to the U.
J
§ g
7 g
L.
Pres., Samuel M. Vauclain; V.-Pres. & Treas., Wm. de Krafft.
V.-Pres., John P. Sykes, Grafton Greenougb, F. de St. Phalle. Jas. McNaughton, Kenneth Rushton; Sec. & Asst. Treas., Arthur L. Church.
DIRECTORS.—William L. Austin, John M. Hansen, Samuel M. Vau¬
Austin;
clain, S. F. Pryor, Thomas S. Gates, Arthur W. Sewall, B. Dawson Cole¬
man, Thomas G. Ashton, Harold T. White, Sidney F. Tyler, William E.
Corey and Sydney E^ Hutchinson.
Office, 500 N. Broad St., Phila.—
(V. 112, p. 65, 565, 654, 742, 1027.)
BARNET LEATHER CO., INC.—ORGANIZATION.—Incorp. In Dela¬
Aug. 2 1919, succeeding Barnett Leather Co. Manufactures high-grade
calf leathers. Tannery and plant at Little Fails, N. Y. See V. 108, p. 2631.
CAPITALIZATION.—No mortgage without 75% of Pref. stock out¬
standing.
Callable at 115.
Sink, fund 3% p. a. first three years and 5%
thereafter.
Both classes of stock listed on N. Y. Stock Exchange.
Initial
(THE) BARRETT COMPANY.—ORGANIZATION.—Incorporated In
New Jersey Feb. 6 1903.
Owns and operates through its subsidiaries
plants in 36 cities of United States and Canada for manufacturing coal
products, such as tar, ammonia, roofing felts, &c.
Merger of the Barrett
Co. of West Va. was voted Sept. 16 1918.
V. 107, p. 908, 1194; V. 76, D.
867; V. 91, p. 1513; V. 94, p. 125, 1318; V. 96, p. 717; V. 97, p. 730, frl;
V. 96, p. 655.
Name changed from "American Coal Products Co." in
Jan. 1916.
V. 102, p. 346; V. 100, p. 1595; V. 105. p. 2096.
Also under¬
stood to own 45% of the $977,500 stock of H. F. Watson Co., asbestos
goods, Erie, Pa.
V. 106, p. 1371.
Property acquired for new building,
V. 110, p. 1190.
The Allied Chemical & Dye Corp. was organized in Sept. 1920 as a con¬
solidation of the General Chemical Co., Semet-Solvay Co.. The Solvay
Process Co., The Barrett Co. and National Aniline & Chemical Co., Inc.
For details as to exchange of stock, &c., see statement of Allied Chemical
& Dye Corporation above.
STOCK.—The full-paid common stock must always be twice the pref.
stock and no additional mortgage or bonded debt can be placed without a
two-thirds vote of the stockholders.
V. 94. p. 125.
The stockholders voted March 16 1917 to increase the total auth. capital
and $5,000,000 pref. to $25,000,000 com¬
and $12,500,000 preferred.
Shareholders of record were then per¬
mitted to subscribe at par ($100 a share) for approximately $2,850,300 pref.
and $2,723,900 com., making the outstanding stock after Jan. 15 1918
$16 443 100 com. and $7,811,400 pref.
V. 104. p. 954 1047. 2345, 2454.
Owns the $95,000 bonds of Peters Paper Co. of Latrobe, Pa
stock from $15,000,000 common
mon
Com.Div.(%)1903-09. 1910. 1911-14. 1915. 1916. '17. *18. *19.
In cash—
5X yly.
6
7% yly.
7
7
7
7
8
do
extra..
Sstk. 7 stk.
10
1
In 1921: Jan., 2%.
Ill, p. 391, 495.
Action
on
Nov. 1920 dividend deferred.
1916.
1917.
1918.
1919.
$32,235,947 $41,339,665 $34,297,371
sales
7,535,780
1146, showed: Net sales,
$8,893,777; gross profit, $1,634,027; oper. profit, $804,718; deprec. on inven.
$851,944; res. for sink. fd. & N. Y. State taxes, $69,141; prer. divs., $137,655; com. divs., $60,000; bal.. def., $314,022.
OFFICERS.—Chairman & Pres., Morris S. Barnet; V.-Pres., Sylvan
M. Barnet, Sigmund Rothschild; Treas. & Sec., Mortimer H
Heyman.
N. Y. office, 81 Fulton St.—(V. 112, p. 1146, 2193.)
CORP.—Organ, in Del. Nov. 13 1916 as Pittsburgh
Investment Co.; name changed to present title in Jan. 1919.
In May
1919 merged with Union Metal Mines Co. and subsequently purchased the
assets of the United Investment Co., which was dissolved.
The corporation
is engaged in the production of petroleum and its products, the mining of
gold, silver, copper and zinc, etc.
Also holds stocks and bonds of other
companies.
Compare V. 110, p. 1204; V. 112, p. 1040.
In Dec. 1920
acquired control of the Bigheart Producing & Refining Co., giving in ex¬
change one share of Class B stock for five shares of Bigheart stock.
V. 111,
BARNSDALL
1921.
5i. 2523; V. 112, p. 69, 1040. and the Barnsdall Oil Co. in Mar. Co. in
Organized the Barnsdall-Foster Oil 1921.
(V. 112, p. 473)
an.
p.
175,358
546,655
545,122
425,265
equally in the distribu
liquidation.
•
The author¬
ized capital stock was increased in Feb. 1920 from $14,000,000 to $30,000,000
divided into $15,000,000 Class "A" Voting Stock and $15,000,000 Class "B"
Non-Voting Stock.
RIGHTS.—Stockholders of record Mar. 31 1920, were offered the right
to subscribe for one share of Class "B" non-voting stock for each 13 shares
of stock held at $35 per share.
Holders of class ,rA" and class "B" Capital stock of
record Jan. 31 1921
given the right to subscribe at 97 ana int. for 8% Sinking Fund Conv.
Gold Bonds, Series "A" due 1931, to the extent of $100 bonds for each 7
shares of Class A and (or) Class B stock held.
DIVS.—Paid as follows: Oct. 15 1919, lYa%; Jan. 15 1920, \Ya%',
April 15 1920 to April 30 1921, 2*4 % quar.
BONDS.—The $8,000,000 8% Sinking Fund Convertible Gold Bonds are
Callable all or part at 107 X prior to Jan. 1 1924, during next 3 years at 105,
during next 3 years at 102X and dining last vear at 101.
Sinking fund 25% of net income available for dividends, with minimum
to retire $800,000 a year, to be used for purchase or call and retirement of
bonds.
If additional bonds issued, such larger annual minimum as to retire
issue bv maturity.
First payment Nov. 1 1921; thereafter semi-annually.
Convertible at any time prior to maturity or redemption, into Class B
(par $25), at $40 per share ($1,000,in bonds convertible Into 25 shares
and dividends.
of stock), with adjustment of interest
Corporation among other convenants, agrees thatsolong as any of these
bonds are outstanding: (a) No mortgage or pledge of its property or that
of any controlled subsidiarycompanv may be created (beyond $2,959,000
existing funded debt of subsidiary companies, part of which is now secured
by mortgage),
(b) Further bonds only issuable for not to exceed 50% of
cost of additions to property after Jan. 1
1921, or 50% of additions to
working capital, and only provided (1) total net assets, including proceeds
of proposed financing, at least 300% of total funded debt, and (2) net
earnings at least 3 times interest charges.
V. 112, p. 374, 473, 565. 654,
747, 852. 935.
'
REPORT.—For cal. year 1920, in V. 112, p. 1019, 1040, showed:
Consolidated Income Account.
1920.
1919.
Gross sales
Net income
_
i
Depreciation and depletion, &c
Interest and discount
Reserve for Federal taxes
a$376,193 a$2,095,749 a$2,268,494
"gross income."
Balance, surplus
*
After providing for Federal taxes.
OFFICERS.—Chairman, Wm. N. Mcllravy; Pres., Thos. M. Rianhardj
Sec. and Treas., E. J.
p.
Steer.
694. 1086, 2426, 2523.)
BEAVER
Office, 17 Battery Place, N. Y.—(V. Ill,
BOARD COMPANIES.—(V.
outstanding, $52,484,000
Divs. from 1916 to 1920 were
In March 1921 paid 2% quar.
CAPITAL STOCK.—Of the $60,000,000 stock
is owned by the New
York Telephone Co.
paid at the rate of 6%
per annum.
BONDS.—The Central District Tel. 1st s. f. 5s have a sinking
annum,
payable in semi-annual instalments, beginning April 1 1921.
The
Central District Tel. 1st s. f. 5s due Dec. 1 1943, etc.
retirement of the
provided for through the issuance of bonds of other series.
REPORT.—For cal. year 1920, in V. 112, p. 1027, showed: Oper. rev.,
$30,329,204; oper. income, $3,791,100; other i come, $626,272; interest,
$1,040,678; rent, etc., $437,056; divs., $3,600,000; bal., def., $660,363.
OFFICERS—Pres., L. H. Kinnard; Sec. &
Office, Philade phia, Pa.—(V. 112, p. 1027. 1401.)
buildings at Allentown and Pottstown.
plants is 200,000 sq. ft.
Approximate floor
two
S.
Peirsol.
area
,T
of
the
■,,,
appointed receiver on Aug. 25 1920.
V. Ill, p.
898.
Creditors' committee and status, V. Ill, p. 992.
The receiver was
authorized to issue $200,000 receivers' certfs. at 99. Sale of automobile
trucks on hand and proposed sale of Pottstown plant. V. 112, p. 1870.
Stockholders' protective committee: B. W. Jones, Chairman; Felix A.
Jenkins, 14 Wall St., N. Y. V. Ill, p. 2523.
Statement by committee
Clinton E. Woods
was
V. 112, p. 935.
Dec. 8 1919 to increase the capital
200,000 shares, no par value.
Stockholders of record
given the right to subscribe at $28 per share to 43,334 shares
the extent of 33 1-3% of their holdings. V. 109, p. 1989, 2265.
STOCK.—The stockholders voted
stock from 130.000 to
Dec. 1
to
were
EARNINGS.—Condensed income accounts years
ended June 30 1919.
Total.
$5,517,414
N,Y. No. Am. Mot.
$3,516,028
$2,001,386
Beth. Mot.,
Sales
Net profit after taxes
$199,124
$365,626
Income account, 5 months ended Nov. 30 1919:
Sales,
profit after taxes, $140,682.
345.792
200,000
Tfb&s
E. Kern. George R. Bidwell, H. F. Harris.
Y. office, 30 Church St.—(V. 112, p. 935,
$564,750
$1,739,179; net
OFFICERS.—Arthur T. Murray. Chairman; H. F. Harris, Pres.; D. G.
Dery, V.-Pres.; S. O. Potter, V.-P.; H. B. Hall, V.-P.; Martin E. Kern,
«
t
Reary
Directors.—Arthur
390.000
W.
MOTORS CORP.
1,185.901
1,016,966
Treas.,
(OF DEL.).—ORGAN.—Incorp. in
Delaware on June 30 1919 as successor of Bethlehem Motors Corp., of
Allentown. Pa. (organized in Dec. 1916), and the North American Motors
Co. of Pottstown, Pa., organized in 1917.
Product exclusively motor
tons.
Factory
trucks built in carrying capacities of IX, 2X and 3X to:
BETHLEHEM
363.764
365,269
1,167,386
fund of
Yi % per annum of the amount of bonds issued.
The first & ref. Series A bonds have a sinking fund of $410,000 per
1,506,363
Balance
112, p. 935, 1870.)
OF PENN SYLVAN I A.—Organized in 1879
and owns and operates a system of exchange and toil lines located in Penn¬
sylvania, reaching every part of the State and connecting directly or in¬
directly for the interchange of traffic with all the other companies of the
Bell System throughout the U. S. and Canada.
Owns the entire capital
stock of the Diamond State Telephone Co. and the Chesapeake & Potomac
Telephone Co. of West Va.
1
BELL TELEPHONE CO.
$4,064,314
2.281,902
3,138,659
73,027
1,375,000
$1,097,283
Reserves are deducted before arriving at
a
$7,105,715
4,135,635
4,850,810
Loss on sales of capital assets
Dividends (10%)
5,165,286
158,657
333,249
uuu,«.
(cadi) div...(8)1,309,164 (8)1,306,912 (7)1,304,542(17)2026,426
(stock) div
(7)790,900
Reserves, &c
*Cr.231,261
*333.530 *Cr.266,913
758,772
is
were
Total income
2,222.785
(7%)
11,150,301
3,789.561
Common
935).
CAPITAL STOCK.—Both classes of stock share
tion of dividends or in the event of dissolution or
stock
222,534
Pref. div.
9,547',654
9,235.871
3,673.244
211,856
Gross inc. (all sources)
Net income
Common
EARNINGS.—For cal. year 1920, in V. 112, p.
(V. 112
text.
REPORT.—Report for cal. year 1919, in V. 110, p. 1182, shows:
Net
Bond, «Scc., interest..
V.
—
Also Nov. 1915 5% and in July 1916 7% in stock, and Jan. 25 1917
10% cash with right to subscribe for 10% ($1,208,910) common at par.
ware
?uarterly dividendcommon, paid onquar. stockof $1 501919; to Apr.15 1920.
of I X % initial pref. div. Oct. 1 paid Aug. 1 1921,
X% quar.
On
'20.'21.
8 See
—
—
—
Soc,
'r. Murray, D. G. Dery, Duncan A. Holmes, Martin
O. R. Ford. J. F Farrell.
N.
1744, 1870.)
,
156
STOCKS AND BONDS
INDUSTRIAL
Date
see
notes on page 6]
Par
Amount
Rate
When
Last Dividend
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c.,
Value
Outstanding
%
Payable
and Maturity
$100 $14,862,000 5 in 1920
Q—J
100 45.000.000 5 in 1920
Q—J
100 30.000,000
8
Q—J
100
7
14,908,000
Q—J
See text
Z623.000
1.227,524
1,000 27,495,000
7 g
J A J 15
Steel Corp.—Common stock $15,000,000, ClassA
Bethlehem
Common stock Class B $75,000,000 non-voting..
Prefstock8% cum and convert call 115 $30,000*000
Pref (a
A a) stock 7% non-cum $15,000,000
.
Cons M $500,000,000 g; Ser A $70,000,000 call 105 s f 1920
Ser gold bds (Spar Pt Dry Dk) $1,250,000 due 20% yrly..
Sec Notes due #7,500,000 1922; rem '23 call—
Ba.c*
Securities of Controlled Companies—+
1918
1918
1918
Beth Steel purch money mtge £or Beth Iron gold.OP.xc'&r
do
1st Ext M g guar red 105 $12,000,000-<i.xc*
do
First Lien & ftef M g gu red 105 s t. Eg .xo* &r*
do
Pur Mon A Imp M $60,000,000call 105 s f. Bakc*Ar
1901
1906
.
do
Marine equip tr ctfs red 102(see text)
G.c*
Eq tr ctfs due $266,000 ann redlOO&H %ea yr unexp.G.c.*
do
Series "B" due #75,000 annually..
Cornwall Ore Banks Purchase Money Mortgages—
Coleman Estate Pur M Mtge call par text_.Pep.kc*
Freeman Est Pur M Mtge call any lnt day text.Pep.kc*
Cornwall Pur M Mtge call any lnt day text._Pep.kc*
Lackawanna Iron A Steel Co 1st M assumed...
Fore River 1st M ggu due $40,000 yly red
103-OB.xc*
Bonds of Penn-Mary Steel Properties Guaranteed—
Maryland Steel first mortgage currency
Penn-Mary Steel Co cons mtge $7,000,000
g
x
y
z
GP.xxr
QP.xxc*
g
I*
1,000
1,000
500
1912
1916
1920
7.500,000
y6,936.000
6 g
Ac % 12.759,500
5g
1,000
1919
1919
1919
1896
1913
1892
1895
500
1 000
&c
..
STEEL
corporation—ORGANIZATION.—In¬
corporated in N. J. on Dec. 10 1904 as successor, per plan V. 78, p. 587, of
the U. S. Shipbuilding Co., and Dec. 31 1920 owned entire stock of:
(1)
Bethlehem Steel Co., with its great steel plants at Bethlehem, Pa., Sparrows
Point, Md., Ac.; Interest in Cornwall iron ore properties and numerous
subsidiaries, notably Bethlehem Steel Bridge Co., Bethlehem Loading
Co. (V. 106, p. 2652), Bethlehem-Cuba Iron Mines Co., and Bethlehem
Chile Iron Mines Co.; (2) Bethlehem Shipbuilding Corp. (V. 105, p. 1619,
1804; V. 106, p. 2652; V. 107, p. 908; V. 110, p. 2490 .owning plants
Sparrows Point, Md., Wilmington, Del., Elizabethport, N. J., Ac., and
also operating under lease the plants of the other controlled corporations,
viz.: Fore River Shipbuilding Corporation of Quincy, Mass., and Union
Iron Works (and U.I. W. D. D. Co.) of San Francisco (V. 105, p. 1619.
1804).
(3) Bethlehem Iron Mines Co., Cuba.
(4) Penn-Mary Coal Co.
(V. 82, p. 1050; V. 85. p. 1520; V. 87. p. 1359; V. 91, p. 278 V. 94, p.
1121; V. 100, p. 2013; V. 105, p. 1619).
(V. 104, p. 668, 1705; V. 93. p.
1603; V. 100, p. 231.)
Other subsidiaries are: Beth. Steel Prod. Co., Phila. Beth. A N. E.
R. R. Co., Steelton A Highspire R. R. Co., Patapsco A Black Rivers R. R.
Co., Cornwall R. R. Co., Ore S. S, Corp., Lebanon Cons. Water Co..
Lebanon Water Co., Lebanon Co. Lt. Ht. A Fuel Co., Pine Township
Water Co., Possum Glory Water Co., Juragua Iron Co., Dunkalk Co.,
Saucon Land A Imnt. Co., Fore River R. R. Corp., Watson Hill Dev. Co.,
Redlngton Standard Fittings Co.. Beth. Mines Corp., Service Stores Corp.,
Sparrow's Point Store Co. and Finch Run Coal Co.
„
.
purchased Elkins Coal A Coke Co., embracing 46,000
acres of coal land in West Virginia, with coal reserves of more than 150,000,000 tons, and equipped for an annual output of 1,500.000 tons of coal
which will be increased to 3,000,000 tons. V. 109, p. 1611. During 1920
purchased approximately 7,000 acres of bituminous coal lands, containing
a proven quantity of at least 65,000,000 tons of low-sulphur gas coal, from
Jamison Coal A Coke Co. V. 112, p. 1274.
In October 1919
In 1916 consummated purchase (V. 103. p. 241, 243) of all the assets of
the Pennsylvania Steel Co. of Pennsylvania and Maryland Steel Co., with
shipyard, Ac. Through the medium of Penn
Mary Steel Co., for about $6,660,000, payable in bonds of 1917, acquired
their extensive steel plants,
plants of American Iron A Steel Mfg. Co. at Lebanon and Reading, Pa.,
also acquired other properties.
V. 103, p. 2344; V. 104, p. 1139.
the
Bethlehem-Chile Iron Mines Co. was incorporated in Delaware Jan. 18
1913, controlled by Beth. Steel Co., to operate the Tofo iron mines near
Coquimbo, Chile.
Auth. capital stock was increased in Sept.
1917 to $10,000,000. V. 105. p. 999; VT 109, p. 890.
Also Bethlehem
Steel Co. authorized stock from $15,000,000 to $65,000,000, and Ore
SS. Corp., $100,000 to $10,000,000.
V. 96, p. 204,287,1023; V. 98, p. 833.
In 1913 purchased Fore River Shipbuilding Co., Quincy, Mass., and
guar. $750,000 1st 5s.
V. 96, p. 1300,1492; VT 98. p. 239: V. 105, p. 1619.
Consolidated Steel Corporation, V. 108, p. 2126, 174; V. 107, p. 2481.
Black Tom suit. V. 108. p. 2125.
In Jan. 1920 sold the. Titusville plant.
V. 110, p. 263.
New fuel-sav¬
ing engine, V. Ill, p. 992.
the coast of
STOCK.—The stock
as
authorized in Sept. 1917 (V. 105, p. 911) includes
(a) $30,000,000 8% cum. A convert, pref. non-voting, (6) $15,000,000 7%
non-cum. pref. with voting power, (c) $15,000,000 common stock A with
voting power, (d) $75,000,000 common stock B (with no voting power),
of which $30,000,000 Issuable only for conversion of the 8% pref. stock.
1917 holders of the $60,000,000 common stock, A A B, wer0
permitted to subscribe and pay pro rata for $30,000,000 8% cum. (non¬
voting) preferred stock.
V. 105, p. 911, 1311; V. 106, p. 89.
In Sept.
The 8% cum. pref. stock is (a) entitled to 8% cumulative dividends
(2% quar.) from Oct. 1 1917 ahead of the 7% pref. stock; (6) is entitled to
participate equally with the 7% non-cum. pref. shares as to its principal
and any accrued dividends in case of liquidation; (c) is convertible at option
of holders at any time (unless called for redemption at 115. the right ter¬
minating in such case 60 days before redemption date) Into an equal amount
of class B common upon payment by holders of $15 per share in cash;
(d) is subject to call at 115 and divs. after three years from date of issue
in amounts not less than $1,000,000. V. 105. p. 911.
Late Divs.
1908-12.
1913.
8% pref—
7% pref...
None.
3X
Common
Common
1914.
1917.
1915.
New
__
B
634
7
2234
7
Text
5
*18.
*19.
'20.
*21,
8
8
8
See
7
7
7 text,
834
8X
5
10
10
5
—
In Jan. and April 1919 paid dividends on the common stock, both *'A''
regular and 1J4% extra.
In July 1919, X of 1% was
paid extra along with the regular quarterly 134%. but from Oct. 1919 to
July 1921 only the regular IX % with no extra.
Divs. on both classes of
pref. stock for entire year 1921 were declared in Jan. 1921.
In Jan. 1917 a quarterly cash dividend of 10% was declared on the $15,000,000 common stock, payable April 2, and upon the authorization of
$45,000,000 of new class "B" (non-voting) common stock the company
paid a stock dividend of 200% on Feb. 17 in said stock, and permitted the
common shareholders to subscribe and
pay in full at par on or before
March 6 for the remaining $15,000,000 class "B" which had been under¬
written.
See V. 104, p. 364, 66o, 865,1266, 2345.
On Aug. 1 1917 a Red
Cross dividend of 1% was paid on Class "A" and "B" stock.
V. 104, p.
2554; V. 106, p. 502.
y
and "B," of 134%
NOTES.—The $50,000,000 7% Secured Serial Gold notes sold in 1918
(V. 107, p. 293, 405, 747) were applicable as follows; (a) $20,000,000 to
advances from War Finance Corp, for immediate completion of coke
ovens, blast furnaces and steel plants at Sparrows Point, Md., as desired
by U. S. Govt.
(6) $12,400,000 to retire such part of $50,000,000 5% notes
of the Beth. Steel Co. due Feb. 15 1919 as were not met from proceeds of
$37,600,000 pledged British Treasury notes; remainder as working capital.
These notes, while due one series each year, 1919-23—see table aboveare redeemable at option of corporation at any lime
upon 30 days' notice,
as a whole or as entire series in order of
maturity at 102 for notes with 4
years or more to run; 101X, 3, but less than 4 years to run; 101, 2, but less
than 3 years to run; 10034.1, but less than 2 years to run; and 100 for notes
with less than 1 year to run.
The issue was secured
by pledge
of
$68,354,000 new Bethlehem Steel Corp. Consol. Mtge. 30-Year Sinking
Fund 6% gold bonds. Series A due Aug. 1 1948 (see below), and
they will
be convertible at option of holder into said bonds at a price for the bonds
equivalent to a 6 34 % income basis at the time of such conversion.
Series! A
notes, $7,500,000 matured July 1 1919 and Series B and O $7,500,000 each
were called for payment July 30 1919, a total of $22,500,000, of which
$22,495,000 had actually been redeemed to Dec. 31 1920.
secure
Co,
PhlJa
Harvey Flsk & Sobs, N Y
May 1 1942
Equitable Trust Co, N Y
A
July 1 1936
A
M
V
J
J Jan
&
Oct
&
6
F
&
6 g
M
&
J
A
J
A
J
&
Bankers Trust Co, N Y
1935
Guaranty Trust Co, N Y
15'22to'30 Guaranty Trust Co, N Y
June 1 '21 to *30
A
A
1
May
A
ig
for
Trust
1 1926
&
J
?g
in
Glrard
&
534
5H
534
.
Dec 31 '28 to '32
July 15 *22-'23 New York
Aug 1 1998
Q—F
1,903,000
3,931.000
500 Ac
1 999
IX
IX
2
IX Checks mailed
M
310,000
465,000
1,566,000
1,768,000
491,000
1,000
1,000
July 11921
July 11921
July 1 1921
July 1 1921
Aug 1 1948
Places Where Interest and
Dividends are Payabte
J
§ 8
1,000 &c x22.277.000
1,000 20,000,000
1,000
2.394,000
1,000
$750,000
1920
1920
Dec. 31 1920, $20,868,000 in treasury; $6,372,500 in sink ingfun d or canc eled.
$8,679,000 in treasury Dec. 31 1920; $1,978,000 in sinking fun d or canc eled.
purchased
$6,936,000 outstanding Dec. 31 1920; $930,000 in treas'ury;$4 ,134,000
On Dec. 311920 $68,587,000 in treasury (of which $68,354 ,000 pi edged) an d $790,000
BETHLEHEM
[VOL, 112.
*
Pa Co Ins
July 1 1939
July 1 1939
July 1 1939
A Feb
1
S
sinld ng fund
sinkin g fund or
do
do
N Y Farmers' L A T Co
1926
Old Colony Tr Co, Bost
Girard
1 1922
Trust
Co,
Phila
do
do
Sept 1 1925
or
Lives, Phila
do
J July 1921- 33
A Feb
on
do
canceled.
canceled.
BONDS.—The Consolidated Mortgage authorized in 1918 is limited to
$500,000,000, and of the initial Issue of $70,000,000, $68,354,000 have been
pledged to secure the aforesaid serial gold notes. The mortgage, in which the
Bethlehem Steel Corporation and Bethlehem Steel Company Join, was to
be secured (subject to $85,340,000 underlying Issues), either by direct
mortgage lien, or collaterally through pledge of mortgage bonds and-or
entire issues of stocks (excepting directors' shares), upon the real estate and
plants of the principal subsidiaries of the Corporation comprising in value
over 95% of such properties owned; also by^$35,434,000 previously issued
underlying
bonds
which
in 'respect
to important
properties
rank
equally with certain of the above-mentioned underlying Issues.
No addi¬
tional underlying bonds may be issued unless pledged thereunder,
y. 107.
p. 293, 405.
-;
.
The Consolidated Mortgage bonds may be issued in series,
differing
as
to
dates, maturities, interest rates, redemption prices, sinking funds, con¬
version privileges, Ac., but no such bonds shall be issued maturing prior to
these Series A bonds.
Of the total auth. Issue, $68,354,000 Series A bonds
pledged as above stated and $85,340,000 reserved for the retire¬
ment of the above-mentioned underlying issues, and not to exceed $60,000,000 reserved to acquire additional bonds hereafter issued secured by prior
are
liens, all of which are required to be pledged under the mortgage, when
issued.
Bonds not Issued for refunding purposes may be issued from time
to time for not exceeding 80% of the cost of investments In properties or
securities.
The Series A bonds
are
callable
at
105, and- will have the benefit of
sinking fund beginning in 1920 of 1% per annum of all Series A bonds
issued prior to the dates of the respective sinking fund payments to be ap¬
a
plied to the purchase of such bonds at not exceeding 105 or to their redemp¬
tion at that price.
Bonds so purchased or redeemed will be canceled.
Purchased to Dec. 31 1920, $790,000.
f
\
Of Bethlehem
Steel
Company's 30-year 5s of 1912 ($50,000,000 auth.
issue) $12,759,500 on Dec.31 1920 were in the hands of the public,$6,372,r00
in sinking fund or canceled and $20,868,000 (pledged) were in the treasury
V Of the remaining bonds part Is reserved to provide for the retirement
of the
First Extension Mortgage bonds and the balance is to be issued
additions and exten¬
sions, except that a moderate amount may be used as necessary to assist
in refunding.
Annual sinking fund 234% of bonds outstanding (but not
less than $300,000). V. 94, p. 1450; V. 95. p. 892; V. 96, p. 1300, 1366;
V. 98, p. 1002, 1922; V. 99, p. 898; V. 100, p. 1169, 1260; V. 105, p. 1524.
from time to time, subject to proper restrictions, for
The Bethlehem Steel Co.'s 1st Extension 5s are guaranteed, prin. A Int. •
by the corporation; on Dec. 31 1919 $6,936,000 were held by public
$4,134,000 in sinking fund or canceled, and $930,000 (pledged) in treasury;
total authorized, $12,000,000.
V. 82, p. 282. 1050; V. 84, p. 573; V. 86,
p. 470,866; V. 91, p. 1771; V. 94, p. 1188.
Purch. Money & Impt. Bonds of 1916 (Made Jointly with
Total auth., $60,000,000 (V. 103, p. 1793, 2157; V.
Penn-Mary Steel Co.).
105. p. 1711), viz.:
Issued to purchase Penn. Steel Oo. properties (see V.103,d. 1793)$31.942.000
On Dec. 31 1920 $8,679,000 of this amount was In the treasury (pledged)
Reserved to retire old bonds of Penn. Steel Oo. and subsidiaries. 10,949,000
Reserved for 75 % of cost of additions and improvements after
March 1 1919 on mortgaged premises or any company 90% of
whose stock is owned and pledged under the mortgage
These bonds have
a
2 34 % sinking fund from
11,109,000
July 11916.
In Jan. 1919 the Bethlehem Steel Oo.
arranged to purchase the additlona I
interests in the Cornwall iron ore banks at Cornwall, Pa., and on account of
same issued three series of Purchase Money mortgage 534% bonds dated
July 1 1919 and due July 1 1939, but callable all or part on any int. day*
viz.; (a) Coleman Estate, $310,000, at least $18,000 to be called each year
after July 1 1922 (secured on undivided 50-1536 interest in Cornwall Ore
Banks, Incl. bldgs., Ac.; (6) Freeman Estate, $465,000, at least $27,000
to be redeemed yearly after July 1 1922, secured by 75-1536 interest In
Cornwall Ore Banks; (c) Cornwall, $1,566,000, at least $92,000 to be called
each year after July 1 1922, secured on 125-1596 undivided interest in Corn¬
wall Ore Banks covered by aforesaid issues (a) and (&); and also secured on
5,333 shares capital stock of Cornwall Iron Co. and 8,000 shares capital
stock of Cornwall RR.
See V. 108, p. 173.
Lackawanna
Iron
A
Steel Co.
1st M.
5s
were
assumed by Bethlehem
Steel Co. in 1917 on purchase of the Lebanon property.
Equipment trusts of 1920, V. 110,
p.
V. 106,
p.
1691.
2078.
Marine Equip, trust ctfs. are redeemable by pur¬
chase or by call by lot if not obtainable at not exceeding call price, at the
rate of $1,000,000 on or before each div. date from April 1 1922 to Oct. 1
1927 incl., and $500,000 on or before each div. date thereafter until ma¬
turity; these amounts to be ratably reduced if certificates are red. In ad¬
vance of schedule.
Certificates so retired to be canceled.
Y. Ill, p. 1281.
The $20,000,000 7%
The mortgage of Penn
Mary Steel Co., created on acquisition of proper¬
ties of Am. Iron A Steel Co., Is limited to $13.000,000, of which $6,660,000
issued (incl. $376,500 retired to Dec. 31 1920) and $6,340,000 reserved
for future extensions to 75% of cost of same.
Callable all or any at 105.
Sinking fund beginning Dec. 31 1918 a sum equal to 234 % of the bonds at
time outstanding.
V. 104, p. 1139.
This issue has been assumed.
Eastern Coke Oo. 1st M. cover 574 coke ovens, benzol plant, Ac. Sink¬
ing fund, $250,000 s.-a.
Callable 101 A int. on or before Feb. 1 1918
thereafter 102>4 & tnt;.; retired to Dec. 31 1920, $1,777,000. V.104, p. 1706
The Union Iron Works Dry Dock Co., a subsidiary of the Beth. Steel
Corp., took over on Nov. 1 1908 the property of San Francisco Dry Dock
Co., and issued 20-year 6% purchase money bonds ($514,866 outstandingDec. 31 1920), besides assuming $495,000 underlying 5s.
V. 88, p. 941.
The Penn Mary Coal Co. 1st M. 5% bonds of Oct. 1 1919, SS.OOO.OOO1
and issued, have an annual sinking fund of $200,000 after Nov. 1
1920, and are callable at any time all or part at 10234 and int.
These
bonds, issued, it is understood, in connection with the Elkins purchase
(V. 109, p. 1611), cover 2,515 acres of land in fee and 43,628 acres of coal
rights in Monongalia and Preston counties, W. Va., with bldgs. A impts.
Purchased for sinking fund to Dec. 31 1920, $242,000.
auth.
Unfilled Orders.—The value of unfilled
$145,286,637.
orders on hand Dec. 31 1920 was-
When the construction program, arranged for in 1918, has been com¬
pleted, the plants, it Is stated, will have a total capacity of 3,000,000 tonsof ingot steel per annum, representing about 8% of the country s presentcapacity, and shipbuilding facilities for 1,000,000 deadweight tons per ann.^
or about one-third of the present steel shipbuilding capacity of the U. 8.
The amount estimated to complete the construction in progress at Dec. 3D
1919 is
$19,000^000.
MAY, 1921.]
RAILWAY
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on page 6]
STOCKS AND BONDS
Date
Par
Amount
Rate
When
Last
Bonds
Bethlehem Steel Corporation (Concluded)—
Spanish-American Iron 1st M g guar red 10214- GP.xxc'&r
Collat trust loan (Cornwall) s f red 105; V 74. p 1312,.xx
Penn Mary Steel Mtge $13,000,000 guar call 105-.GP.xc*
Bonds of Coal and Coke
Companies also Dry Docks—
Dividend
Value
Outstanding
%
Payable
and
Nfaturity
1907
$1,000 $cl ,754,000
1,000
4,9.50,000
1.000
6.283,500
1902
1917
Eastern Coke Co 1st M (closed) call s f joint guar.xxUplc*
1917
Penn-Mary Coal 1st M gold gu red 102H (s f 101)._GP.xx
1st M Elkins prop call 102H s fd $200 yearly
Fr.c+
San Francisco Dry Dock Co
.-.--£.4--..
Union Iron Works Dry Dock
Finch Run Coal pur. money s. f
Jamison C. & C. Dak. mtge. s. f. $1,364,000
do
Barracksville " p. m. & impt. 1st m. (assumed)..
Booth Fisheries—Common stock 500,000 shrs authorised„.
1st pref stock $10,000,000 (cum since Apr 1912) red 110
1909
Borden Co—Common
stock
conv
Into
""T.666
1919
1920
100
1911
1,001
1U1J
..
Preferred (a & d) 6% cum 57.500,000 redeemable at 110
Borne-Scrymser Co—Stock
Braden Copp Mines—Debs (closed issue) g s f call 105-Ba.c*
Brill—(The J G)Co—Common stock.....
Preferred (a & d> stock 7% cumulative
British Empire Steel Corp.—See text
100
.
100
...
'
1916
c
x
REPOKT.—For
Gross sales..
Total net earnings
100
4.580,000
x36 ,351,553 x37,441,218 x57,188,769 x53,979,360
7 ,951,203
9,518,205
9,748,013
8,746,982
13 ,941,514
12,566,152
31,510,366
17,911,841
2 ,400,000
2,400,000
2,397,800
594,480
1 ,043,560
1,043,560
1,043,560
1,043.560
743,100(7)1,040,340(10)1486,200(10)1486,200
,250,000(7)3,126,195(10)4458,600(10)4458,600
*
Red Cross dividends
594,480
Balance, surplus.....
8,022,176
2,746,765
6,544,230
x After providing for taxes
(including war income
taxes, expenditures for repairs and maintenance.
and
9,143,417
war excess
profits
M.
Schwab
(Chairman),
Archibald
Johnston,
C. Austin Buck, John W. Griggs. Allan A. Ryan, G. M.-P.
Murphy.
Henry S. Snyder, E. G. Grace. Eugene V. R. Thayer, Harold Stanley,
James E. Mathews, and James H. Ward.
Office. Ill Broadway, N. Y.—
(V. 112, p. 375, 465, 1274, 1870,1980, 2086.
(E. W.) BLISS CO.—(V. 112, p. 1285, 1744.)
BOOTH
FISHERIES CO.—ORGANIZATION.—Incorp. in Delaware
May 10 1909 and purchased at receiver's sale all the assets of A. Booth &
Co., Chicago, per plan in V. 88, p. 1063.
Is engaged in buying and selling
at wholesale and retail fish, oysters and all sea foods, and has a large fleet
of fishing
boats
the
on
Great Lakes and Pacific
Eurchased the N. W. Fisheries Co.
V. 100,
Ocean.
On April 11911
2088; V. 101,
530.
p.
p.
tooth St. Louis Cold Storage Co. has a large cold and dry storage plant in
St. Louis.
V. 101, p. 1976.
In Dec. 1916 purchased the Llndenberger
Packing Co. and the Columbia Salmon Co. through its subsidiary, the
Northwestern Fisheries Co.—Y. 103, p. 2430.
Early in 1917 purchased
5 packing plants of the Lubeck Sardine Co. and also property of the Machiasport Packing Co., both on the Maine coast.
V. 105, p. 2000.
New
Sardine factory at St. Johns, N. B., opened In July 1918.
V. 107, p. 405.
Booth Fisheries Co. of Canada, Ltd., was incorporated July 4 19io with
11,000.000 capital stock, primarily to take over and operate the New Bruns¬
wick Sardine Canning Co., with plant near St. Andrews, N. B.
Name
changed to Booth Fisheries Canadian Co., Ltd., in May 1920.
V. 110,
P. 2389.
\
STOCK.—The first
pref. stock,
cum.
from April 1 1912, with no voting
e>wer except while debenturesare not paid or set aside. V. at parp. 1438.
102, for the
olders of the 6% dividends
have the option of exchange
first pref.
p.
V. 94, p. 125, 489.
V. 105, p. 2000, 502.
698.
The
common
Total pref. auth., $10,000,000.
V. 107,
shareholders voted
May 21 1917 to change the authorized
July 1 from 100,000 shares of $100 each to 500,000 shares of
no par value; 250.000 of tue new shares then
being exchanged for the out¬
standing common five new for one old.
V. 104, p. 1705,2120,2236,2454.
An additional $1,000,000 pref. stock was issued in June 1919 on account of
improvements, &c., the amount authorized to be listed on N. Y. Stock
Exchange being increased to $6,000,000 of which $1,000,200 was in treasury
in Dec., 1920.
A further $1,946,000 pref. was issuable against bonds ther
tofore retired by sinking fund.
common
stock
DIVIDENDS.—On first pref. paid July 1912 to Oct. 1920 1^%Q.-J.
Jan. 1921 dividend deferred.
V. Ill, p. 2231.
On common paid 4%
April 1913 in
pref. stock and in March 1917 a cash dividend (No. 1)
of 2%; April 1 and July 2 1917, 1%.
Oct 1917 to April 1 1919, incl.,
paid 50 cents quar.
($2 per ann.) on new common stock (see above);
none since to Nov. 1920.
V. 108, p. 2244; V. 109, p. 890.
new
BONDS.—Of debentures
($5,000,000) $2,487,000 were in April 1921
sinking fund and treasury, $2,513,000 were outstanding.
Cum. sinking
fund $150,000 yearly at outset.
Y. 96, p. 655; V. 101, p. 1191.
Bonds on
cold storage plants April 30 1921, $854,314, including Midland Cold Storage
Co. 5s, $62,500, due $12,500 yearly June 1921-1925; 1st Mtge. gold 6s of
Booth Cold Storage Co. of Minn., 1st M. gold 6s of Detroit Cold Storage &
Terminal Co. ($1,000,000 auth., V. 104, p. 2014), Booth Cold Storage Co. of
Buffalo 1st 6s and Twin City Cold Storage 1st M. 6s.
In 1916 guaranteed
(p. & i.) $500,000 1st M. serial 6s of Booth-St. Louis Cold Storage Co.
due Jan. 1 1917 to 1931, but callable at 102X.
V. 102, p. 2344.
in
REPORT.—For calendar year 1920 in V. 112, p. 1619 showed:
Calendar
Year—
1920
1919
1918
1917
Net
Bond,&c„ Depr.,&c., Federal
Pref.
Balance,
Profits.
Interest. Reserves. \ Taxes.
Dtvs.
Surplus.
$61,580 $746,372 $108,770
$262,489 df$l,056,051
1,433.238
707,728
245,676 $48,000
344,947
86,887
2,217,677
719,876
498,442
250,000
275,833
473,526
3,388,829
531,904
354,293
625,000
236,110
1,641,522
OFFICERS.—K. L. Ames, Pres.; W. G. Weil, Sec., and P. L. Smlthers,
V.-Pres. & Treas.
Chicago offices, 205 N. Michigan Ave.—Y. 112, p. 1619.
BORDEN COMPANY.—Incorp. in N. J. in 1899 as Borden's
Condensed Milk Co.
In Oct. 1919 present name was adopted, the former
title being considered restrictive in that it implied the manufacture of but
one product—condensed milk—whereas the company Is also a very large
producer of evaporated milk, malted milk, milk chocolate, &c.
Y. 109,
p. 1463, 1528* V. 68, p. 821- V. 69, p. 1195' V. 74, p. 97, 579' V. 76, p. 656.
Price, V. 106,, p. 193, 1580, 1798* V. 103, p. 6677
Statement as to milk
situation, new management, &c., see V. 105, p. 500, 1422, 1711, 1804,1900,
2000* V. 106, p. 1232- V. 107, p. 31, 33, 1387, 1436, 1921* V. 108, p. 82,
1277.
New building, V. 110, p. 2569.
(THE)
A subsidiary company engaged in the business of dis¬
tributing fresh milk, cream and other farm products in N. Y. City and ad¬
jacent cities, Chicago, Montreal, &c.
V. 107, p. 2478.
Authorized cap¬
ital stock, $17,918,000, viz.: (a) $12,500,000 common; (6) $5,000,000 6%
cum. pref., callable at
105; (c) $418,000 7% cum. non-voting 1st pref.,
callable at par.
Outstanding Dec. 31 1920, $10,500,000 common and $3.500,000 6% pref., both owned by The Borden Co.; $417,700 first pref.
owned by others.
Dividends, M. & S.
V. 106, p. 823, 931. 1038, 2453,
2759; V. 107, p. 183, 606.
J Jan
,
1937
&
A Feb
&
O Apr
A
&
O Oct
1 1939
1 1939
6 g
J
&
J
&
J
&
Apr 1
F
""~7
Payable
Guaranty Tr Co, N
Girard Tr Co, Phila
Bankers Trust Co, N
Y
Y
do
do
N Y
D June 1 1950
J Jan.
1
1934
J July 1 1929
text
6 g
are
Franklin Trust Co,
Mar 1 1931
Oct 1 1929
£g
£g
5 g
Dividends
1 1931
A
&
19 50 cts Central" TrCo of IIIChic
1 *4%
do
do
Nat City Bk, NY; or Chic
Oct 1 '20
Apr
1 1926
Feb
4% Bankers Trust Co, NY
do
IX
do
Oct
York
Co, N Y
15 '21
Mar 15 '21
15 '20 20% 80 South St, New
A Feb 1 1931
Bankers Trust
"Q—F"
$514 ,866 held
LATE
1 1932
1
F
Sept 15 '08 X % Cheoks mailed
ao
May 2*21
1*4
do
by publi cDec. 31 1920.
DIVS—
(1904 1905 '06 *07 '08 to '14 '15 '16 '17 '18 '19 '20 '21 •
8
8
8
8
8 yrly
8
8
8
8
8
8
See
1W
2
2
2
text.
text
In Aug. 1917 paid X of 1% to aid Red Cross contributions.
Paid in 1921:
Feb. 15, 4%.
On common
(%)_.<
Extra
I
REPORT.—For 1920 in V. 112, p.„1514, showed: Gross
sales, $120,,
293,573; net oper. profit, $3,503,002; interest, $540,082; income & profitstaxes
(est.), $144,060; net income, $2,818,860; dividends, $2,188,679;
appropriations for reserves, $605,921; loss on property and securities sold
$275,534; bal., def., $251,274.
Chairman, Albert G. Milbank; Pres., Arthur W. Milburn; V.-P., Walter
M. Gladding; Treas., Shepard Rareshide; Sec. & Asst. Treas., Wm. P.
Marsh.
N. Y. office, 108 Hudson St.—(V. 112, p. 1514, 1870.)
BORN E-SCRYMSERCO.—ORGANIZATION. &c.—Incorporated In
Jersey in 1893.
Has lubricating oil plant at Elizabethport, N. J.
controlled by Standard Oil Co. of N. J., but segregated in
1911.
See Standard Oil Co. of N. J., V. 85. p. 216. 790; V. 93. p. 1390,
Stock, $200,000; par $100.
Dividends: 20% annually in Dec. 1912 to 1920.
incl.
Office. 80 South St., N. Y.—(V. 109, p. 983.)
New
BOSTON CONSOLIDATED QAS CO.—See Mass. Gas Cos.
BRADEN
COPPER
MINES CO.—Incorp. in Dela. In 1909.
Owns
(Maine corporation), which
in Province of O'Higgins, Chile, extensive mining prop¬
erty with mill capacity of about 7,500 tons of ore per day, which it is pro¬
posed to increase to 10,000 tons.
Kennecott Copper Corporation (which
see) owns 99% of tne 2,590,706 shares authorized and outstanding (reduced
from 2,800,000 shares July 14 1916).
Bonds auth. and issued, $20,000,000
canceled by sinking fund to Dec. 1 1920,
$500,000.
V. 102, p. 524, 713;
V. 103, p. 63; V. 106, p. 609; V. 109, p. 580.
Guarantees $2,380,000 8%
notes of Copper Export Association, Inc.
V. 112, p. 655.
entire stock and bonds of Braden Copper Co.
owns
and operates
REPORT.
For year ending Dec. 31 1920:
Cal. Years.
1920.
1019
Cal. Years.
1920.
1919.
Cop.prod. (lbs)56,491,144' 21,990,348 Total income.$2,419,504
$990,318
Aver, per lb_.18.375 cts. 18.849 cts. Bond, &c., int.
1,662,740
1,573,171
Copper revs_$10,379,982 $4,144,908 Deprec., &c_. 3,087,079
1,007,640
Netprofit
$2,092,258
$318,990 Bal., surp.def.$2,330,315df$1590493
—(V. 112, p. 565, 655.)
BRILL (THE J. G.) CO.—ORGANIZATION.—Incorporated In Pennsyl¬
Aug. 1 1906; organized Feb. 1907.
Manufactures oars and trucks,
1917 aeroplane motors for U. 8. Govt.
See
V. 108. p. 681: V. 106. p. 766: V. 85. p. 1400; V. 86. p. 1102
BONDS.—The $326,000 5% bonds on the John Stephenson & Co plant
due Dec. 31 1925 were paid off at 105 and int. on Jan. 1 1920.
Equipment trust certificates, V. Ill, p. 1854.
vania
principally electric, and In
DIVIDENDS.—On 7%_pref., l^% quar. to Aug. 1914; Nov. 1914 to
Aug. 1 1919, 4% (1% Q.-F.).
Also Aug. 1 1918 paid 1%; Nov. 1 1918 to
Aug. 1919 paid 3% quar. and on Nov. 1 1919 1% and 2*4% on accumula¬
tions, entirely discharging same as of date last named.
Feb. 1920 to
May 1921 paid 1*4% quar.
On common, June 1907 to March 1908, 1%
quar.; June and Sept. 1908, X. of 1%; nine since to May 1921.
REPORT.—For
1920, in V.
112,
1920.
p.
649, showed:
1918.
1919.
1917.
Total sales
$17,537,293 $14,210,622 $16,761,155
Oper., gen. & adrn. exp.TlG,121,972
13,293,753
15,419,645
Depreciation reserve
j
_
$7,706,099
6,711,910
_ _
$916,869
$1,341,510
$994,189
Less—Pref. dividends..(7%)320,600(15^)721350
Federal taxes
240,000
85.000
Res've for contingencies.
150,000
(8)366,400
(4)183,200
425,000
90,000
Netprofit
$1,415,321
—
Balance, sur. or def
sur$704,721 sur$110,519 sur$550,109 sur$720,989
Pres., Samuel M. Curwen; V.-P., William H. Heulings Jr.; 2d V.-P.,
Henry C. Esling.—(V. 112, p. 649, 655.)
J. W. Rawle; Sec.,
BRITISH AMERICAN TOBACCO CO., LTD.—V. 112, p. 159, 254,
747, 936.
BRITISH EMPIRE STEEL CORP.—The stockholders of the Dominion
Steel Corp., Ltd., and Nova Scotia Steel & Coal Co., Ltd., in April 1921
formally ratified the merger of those companies with the Halifax Shipyards
Ltd., in the British Empire Steel Corp., Ltd.
The new merger plan is out¬
lined as follows, the plan of June 28 1920 having been abandoned:
The companies composing the merger are: (a) Dominion Steel Corp.,
Ltd., and its subsidiaries, Dominion Iron & Steel Co., Ltd., and Dominion
Coal Co., Ltd.
(5) Nova Scotia Steel & Coal Co., Ltd., and its subsidiary,
Eastern Car Co., Ltd.
(c) Halifax Shipyards, Ltd.
Proposed Stock Issues.
7% Cumulative Preference shares Series "B"
7% Cumulative Second Preference shares...
Common shares
.-.$19,950,000
57,350,000
—■
24,450,000
-
proposed to be issued, $5,605,000 2d Oumul.
7% Pref. shares and $2,360,000 Common shares will be held by Dominion
Iron & Steel Co., one of the constituent companies.
8% Cumulative Preference Stock Series ' A. -—The British Empire Steel
Corp. will be able from time to time to obtain additional capital by the sale
of 8% Cum. Preference stock Series "A," which it has authority to issue.
7% Cumulative Preference Series "B."—The 7% Cumulative Pref. shares
Of the $101,750,000 stock so
Series "B"
are
to be offered in
exchange for outstanding Preference shares
of the companies which enter the consolidation.
Such
ence shares will be at the option of the holders and
mentioned:
Cumulative
exchange of 1 refer¬
upon terms below
B
rank with the
first preference both as
The Cumulative Preference shares Series
Preference
shares
Series
"A"
as
a
regards dividend and distribution of assets on a winding up.
Bond Issues Remain Undisturbed.—The bond and debenture issues of the
various companies
[$31,102,475 outstanding] are to remain undisturbed.
Basis
BORDEN'S FARM PRODUCTS CO., INC.—Incorporated at Albany,
N. Y.. April 24 1917.
July 1 1927
O Oot
Places Where Interest and
Formerly
OFFICERS.—Chairman, Charles M. Schwab; Pres., Eugene G. Grace*
V.-Pres., Archibald Johnston, Henry S. Snyder. H. E. Lewis. James H.
Ward; Sec., R. E. McMath; Treas., W. F. Hartmann; Asst. Treas. & Asst.
Sec., Wm. J. Brown; Compt., F. A. Schick.
DIRECTORS.—C.
J
&
&
4,810.200
1920. ill V. 112. p. 1274, showed:
1920.
1919.
1918.
1917.
$
$
$
.274 ,431,236 281,641,907 448,410,809 298,979,531
Bond, &c., Interest..
Depreciation, &c
Preferred dividend (8%)
Preferred dividend (7%)
Common dividend (5%)
Common "B"divis (5%)
A
J
11
fg
15,000,000
$3,246,000 purchased for sink fund or canceled.
$1,000,000 auth.: $1,600 In treasury. $483,533 In sink ing fd or cancel
ed.
[n addition $2,487,000 held in sinking fund and treasury April 3 0 1921
Calendar Years—
&
Text"
4,999,800 See text
A
6 e
&
y2.513,000
O
860,314
A
A
21,368,100 8 in ly20 r
7,500,000 6 in 1920
O—M
200,000 20 in '20 October
1,000
...
y
5,223,000
1,277,000
4,758,000
495,000
X514.866
4,200,000
1,318,000
895,000
100
?
J
2*
£g
5 g
None 250,000 shrs See
1st pf stk.xo*
522,500,000
1,000
1909
-
Sink fd deb 55,000,000 e red 101
Bonds on cold storage plants
157
(a)
of Exchange of Common Stocks.
Each $100 fully paid
Ordinary or Common share of the Dominion
7% Cumulative 2d
Empire Corp.
Nova Scotia
Cumulative
2d Pref. shares and $40 fully paid Common shares in the Empire Corp.
(c) Each $100 fully paid Ordinary or Common shares of Halifax Shipyards,
Ltd.. will be exchanged for $60 fully paid 7% Cumulative 2d Pref. shares
and $25 fully paid Common shares in the Empire Corp.
Steel Corp., Ltd., will be exchanged for $95 of fully paid
Pref. shares and $40 fully paid Common shares in the
Each $100 fully paid Ordinary or Common share of the
Steel & Coal Co., Ltd., will be exchanged for $90 fully paid 7%
(b)
158
MISCELLANEOUS
[For abbreviations, Ac.,
Date
notes on page 6]
Edison Co, Inc—Stock $19.000,000
General Mtge $100,000,000 Ser A call 105__Ce.xxxkkc*Ar
Par
Amount
Bonds
COMPANIES
see
Value
Outstanding
B
call
Series
C
call.
Series
D call
we
105-105--
__
text.
...
1919
Cexxxc*&r
Cexxxc*&r»
Cexxxc*&r*
Underlying Bonds, Ac.—
Kings Co El Lt & P 1st M g $2,500,000
Eq.zc
Pur money M g sec by Edison sta Ac t V 76. p 47)--Ce4cxc*
Edison Elco 111 cons mtge (now 1st) $10,000,000 g.Gjcxc*
Debens conv Into stock beg Mcb 1 1913
xxc*
do
do
beg Mch 1 1916
xxc*
Brooklyn Ferry Co.—See N Y Terminal Co (V 92, p 1180).
Brooklyn Union (ias—Stock $20,000,000
fcjFlrst Cons $15,000,000 g (for underlylng'bonds see text)_Gx
Debs convertible on & after Nov 1 1924 into stock $ for
Brown Shoe Co—Common stock $10,000,000 auth
Pref stock (a A d) 7% cum red 120
(The) Buckeye Pipe Line Co—Stook $10.000.000—
Buffalo General Electric Co—Stk $10,000,000 V.102.p. 1628
First mortgage (trustee Fidelity Trust Co).
%
Cataract Power & Conduit 1st M sink fund
Nlp-xxc*
First Ref M $10,000,000 call at 105. V.102.p.l628-Col.so*
Debentures convert into stock $ for $ call (V 105. p 718)xxx
Debentures convert into stock at par aft May 1 '22._Ba.xxx
Buffalo A Susouehanna Iron—See Rogers-Brown Co
Burns Bros—Common stock $10,000,000 (see text)
Preferred 7 % cum $2,000,000
1920
1920
1920
1898
1,000
1898
1,000
•V
Basis
Each $100 6%
1,000
1910
100
Ac
100 See
1.000
100
1899
1897
Sec
1.000
1917
1920
100&1000
Sec
of Exchange of Preferred Stocks.
of Cumul. 7% Preference stock Series "B" of
(c) Each $100 Preference share of Halifax Shipyards, Ltd., to be ex¬
changeable for one share of like amount of Cumul. 7% Pref. stock Series
"B" of the Empire Corp.
■
Capitalization of New Corporation Issued upon Exchange of Securities.
Assuming that the holders of the Preference shares in the above companies
take advantage of their rights to exchange their holdings for the 7% Pref.
shares "B" series, the securities of the British Empire Steel Corp., Ltd., to
be issued will be distributed as follows:
.
(1) $19,950,000 7% Preference shares Series "B" to be exchanged as follows:
(a) For 6% Prer. shares of Dominion Steel Corporation
$7,000,000
For 7% Pref. shares of Dominion Iron & Steel Co
5,000,000
For 7% Pref. shares of Dominion Coal Co
3,000,000
For
8% Pref. shares of Nova Scotia Steel & Coal Co—
1,200,000
Car Co
750,000
Shipyards.™
3,000,000
(2)~$57,350,000 7% 2d Pref. shares to be exchanged as follows:
(a) For Dominion Steel Corp. Common shares
..$40,850,000
lb) For Nova Scotia Steel & Coal Co. Common shares
13,500,000
(c) For Halifax Shipyards Common shares..
3,000,000
(3) $24,450,000 Common shares to be exchanged as follows:
(a) For Dominion Steel Corp. Common shares
$17,200,000
lb) For Nova Scotia Steel & Coal Co. Common shares
6,000,000
(c) For Halifax Shipyards Common shares...
1,250,000
Time for Exchange Expires Oct. 1,—The right of exchange of shares may
only be exercised up to and including Oct. 1 1921 unless otherwise extended.
Projected Balance Sheet.—For projected balance sheet as at Dec. 31 1919,
consolidating the assets and liabilities of the companies proposed to be
acquired and giving effect as at that date to the introduction and applica¬
tion of the proposed new capital, see V. 112, p. 1393: for further details of
plan, compare V. 112. p. 1402.—(V. 112, p. 1286,1393.1402,1520, 1744,
For 6% Pref. shares of Eastern
For 7% Pref. shares of Halifax
2086).
BROOKLYN BOROUGH GAS CO.—V. 112, p. 260,
^75, 1619, 1981-
BROOKLYN EDISON CO., INC.—ORGANIZATION.—Successor in
of name, of the Kings County Elec. Light & Pow. Co.
(incorp. in N. Y. State June 26 1890), and by merger of its subsidiary,
the Edison Electric Illuminating Co. of Brooklyn.
Does all the electric
light and power business in the Borough of Brooklyn (except the 29tb
Ward), City of New York, serving a population estimated at 2,500,000.
V. 108, p. 173, 582: V. 107, p. 2190, 2380: V. 69, p. 177, 957; V. 70, p. 483:
V. 80, p. 221$.
Rates, V. Ill, p. 2231: V. U'f, p. 1147, 2086.
Franchises favorable and, in opinion of counsel are perpetual.
V. 108.
Jan. 1919, by change
p.
583.
j
DIVIDENDS.—June 1900 to Mar. 1903, 1K%
quar.;
since
to June
1921, 2% quar.
z
Equitable Trust Co
O Oct
J Jan
Centra] Union Tr Co, N Y
Guaranty Trust Co, N Y
Bank of America, N Y
A
7g
&
do
do
1919
1
do
1929
Sept 1 1920 1H Checks mailed
May 1 21. 1%% Checks mailed
June 15 '21 4% New York
Mar 31 *21 2% Buffalo
Feb
1 1939
Fidelity Trust
do
Nov 1
Jan
1 1927
Co, Buff
Metropolitan Tr Co, N Y
Apr
1 1939
Columbia Trust Co. N V
Aug 1 1922
1 1925
BankersTrCo, NY & Buf
do
do
O Apr
Q—F 31 May 16'21 2K New York
Q—F
May 2 '21
1K New York
8,094,400 10 In '20
7
1,293,100
BONDS.—Mortgage of 1895 Is for $15,000,000 of bonds, subject to:
Interest.
Outstanding.
Maturity.
Bonds—
Citizens'
Gas
5% F. A A z
mortgage
con.
$264,000
Feb. 1 1940
In Oct. 1919 offered to shareholders at par $2,000,000 7% 10-year deben¬
tures convertible into stock, at holders' option, on any int. day on and after
1924 $ for $.
(б) Each $100 8% Cumul. Pref. share of Nova Scotia Steel & Coal Co.,
Ltd., to be exchangeable for 11-5 share of like amount of Cumul. 7% Pref.
stock Series "B" of Empire Corp., and each $100 6% Cumul. Pref. share of
the Eastern Car Co., Ltd., to be exchangeable for one share of like amount
of Cumul. 7% Pref. stock Series "B" of the Empire Corp.
O Oct
&
&
Oct
2,000,000
100
100
the Empire Corp.
(e)
5
IK By check from Co'soffice
MAN May 1 1945
Chase National Bank.NY
Sc
"
1,000
Cumul. Pref. share of Dominion Steel Corp., Ltd.,
1930
Dec 1 1940
Jan. 1
M
&
N
7
2,000.000
8,400,000 See text
5.262.500 7 in 1920
Q—F ~
10,000.000 16 in 1920
Q—M
8
8,065,600
Q—M 30
F
A
A
5 e
2.375,000
J
&
J
1,084,000
£g
5 g
TAJ
7,029.000
F
Se
6 g
A
1.880,100
1909
100
Jan 1 1930
6
14,736.000
100 Ac
100
100
50
100
Payable
Central Union Trust Co
1 1949
Jan
are
2% Checks mailed
1 1937
1 1997
1 1939
MAS Mch 1 1922
MAS Mch 1 1925
g
18,000,000
1895
1919
11921
Where Interest and
Dividends
A
1.288,300
100
Maturity
J
5
346.000
1913
Places
Dividend
and
June
A
4 275 000
and each 7% Cumul. Pref. share of Dominion Iron & Steel Co., Ltd., and
each 7% Cumul. Pref. share of Dominion Coal Co., Ltd., to be exchangeable
for one share of like amount
Last
When
Payable
%
2,500,000
6,176,000
1898
—
(а)
Rate
$|0fi 117.355,000 8 In 1920
5 g
100 Ac
5,500,000
500 Sec
3,000,000
68
500 Sec
2,000,000
7 g
500 Sec
5,000,000
Brooklyn
Series
[Vol. 112.
STOCKS AND BONDS
INDUSTRIAL
V. 109. p. 1528, 1082; V. 108, p. 1391.
REPORT.—For year 1920 shows:
1920
1919
1918.
1917.
$15,894,532 $13,386,123 $13,053,798 $12,243,762
def.88,701
825,604
2,140,461
Other income
342,562
242,767
261,914
Bond interest, &c
1,140,354
960,708
868,580
870,943
Dividends
(4K%)810,000 (6)1,080,000 (7)1,260,000
Balance.
def.2,377,936 df.1,516.847
def.880.209 sur.271,432
Pres., James H. Jourdan; V.-Prests., Wm. G. Rockefeller and A. F.
Stamford: Treas., E. R. Chapman.
Office. 176 Remsen St., Brooklyn,
N. Y.—(V. 112, p. 375, 852, 936, 1744, 1981.)
Gross earnings
Net after taxes
def.l,618.367
380.785
BROWN SHOE CO.—ORGANIZATION.—Incorp. in N. Y. Jan. 1913
acquired the Brown Shoe Co, of Missouri.
Owns and operates 10 large
plants, 5 in St. Louis and one each in Moberly, Mo., Brookfield,
Murphysboro, Dixon and Charleston, 111.
Also leases and operates a plant
for the manufacture of paper boxes.
Aggregate net floor space, 28 acres
Capacity, 30,000 pairs of shoes per day.
In Feb. 1913 acquired Barton
Bros, or Kansas City.
V. 96, p. 556.
No mortgage or funded debt April
1921; $20,000 real estate mortgage redeemed Feb. 15 1919.
V. 96, p. 204.
War orders in 1918, V. 106, p. 193, 1903; V. 107, p. 1839, 2004.
and
modern
time, all or part (pro
3 mos.' notice.
No
authorized or pref. stock
Increased or prior stock Issued by vote of less than 75% of each class, both
pref. and com.
Sinking fund out of surplus profits to retire at least 2K %
annually of the maximum pref. stock at any time outstanding. V. 107, p.
2004.
Pref. shall not vote for directors unless four quarterly dividends are
STOCK.—The pref. stock is redeemable at any
rata), and also upon dissolution at 120 and divs. on
mortgage (other than purchase money) can be
In default.
Pref.
$6,000,000; outstanding, $5,262,500; retired by
stock authorized,
sinking fund and canceled1, $737,500.
DIVIDENDS.—Div. on pref. from Feb. 1913 to May 1921, 1K% quar.
on common, 1% paid Feb., May and Aug. 1 1914; none to Dec. 1
Dividends
1916, when 1K% was paid; Mar. 1917 lo Sept. 1919, 1K% quar.; Dec.
1919 to Sept. 1920, 1K% quar.; Dec. 1920 div. omitted; V. Ill, P. 1952.
Stockholders of record June 19 1920 received a stock div. of 33 1-3%.
ended Oct. 31 1920 in V. Ill, p. 2225, showed:
REPORT.—For year
1919-20.
1918-19.
1917-18.
1916-17.
$37,307,526 $31,690,814 $30,825,715 $21,882,016
sales
Net
$710,185
181,151
Net
earnings
Depreciation
Repairs, patterns,
$2,414,088
229,680
126,882
and
profits tax. (est.).
134,812
105,848
$2,680,725
$1,838,385
$2,078,560
$40,000 a$l,250,000
profits
209,322
$402,152
chargedoff
Net
$2,228,860
255,664
$3,386,685
496,638
Ac.,
Federal income, war
Common
372,137
dividends..._(7%)477,750
281,376
(6)360,000
$500,000
244,470
(6)360,000
$410,000
248,955
(6)360,000
Balance,
surplus
def.$487,735
$789,349
$733,915
$1,059,605
exc.
Preferred dividends (7%)
BONDS.—The General Mtge. bonds of 1919
(V. 108, p. 582) are se¬
the company's real and personal property (subject
prior lien of Kings Co. Elec. Light & Power Co. 1st M. 5s and Purchase
Money 6s and Edison Elec. 111. Co. of Brooklyn 4% bonds), including two
steam generating plants with an installed capacity of 134,000 k. w„ and
5,940 miles of distribution lines, of which 2,770 miles are underground.
They also cover all other property hereafter acquired.
The mortgage is limited to $100,000,000 and the bonds are Issuable In
series with such interest rate, maturity and redemption rate, and may have
cured by mortgage on all
to
the
privilege of conversion into capital stock, as shall be determined by the
Includes State taxes in 1918-19.
a
Pres., John A. Bush; V.-Pres., E. R
McCarthy, H. L. Tomes, P. O'Brien. G. A. Bull and T. P. Moody; Treas..
H. S. Hutchins; Sec., Wm. Krail.
Office, St. Louis, Mo.—(V. 112, p. 852.)
Chairman, Geo. Warren Brown;
BRUNSWICK-BALKE-COLLENDER CO.—(V. 112, p. 655.)
BUCKEYE PIPE LINE CO.—ORGANIZATION, Ac.—Incorporated In
1886.
Owns pipe lines in Ohio.
Formerly controlled by
company.
Ohio Mar. 31
Purposes for Which the General Mortgage Bonds Are Issuable.
Issuable forthwith to reimburse the treasury for extensions,
Standard Oil Co. of N. J., but segregated
improvements, Ac., made prior to Jan. 1 1919 (of this amount
$5,500,000 series A were
sold in Feb.
1919
$3,000,000
series B in Feb. 1920 and $500,000 series C sold in Sept. 1920.
for extensions, &c., made since Jan. 1
in Sept. 1920-..
$9,000,000
Series D, issued in Dec. 1920 to further reimburse the treasury
for extensions, Ac., made from Oct. 1 1912 to Oct. 31 1920—
5,000,000
(Series D bonds are callable at 107 K and int. to Dec. 1 1930
and at 105 and int. thereafter.)
Issuable for refunding underlying bonds and debentures
13,713,300
Issuable with the approval of the P. S. Commission for 80% of
the cost or reasonable value (whichever is less) of extensions,
additions, acquisitions, &c., made after Jan. 1 19i9, but only
when the net earnings are twice the annual interest charge,
including the'bonds proposed
remainder
The convertible 6% bonds of 1910. originally $4,000,000. and of 1913,
originally $5,000,000. are convertible into stock. $ for $.
To reimburse treasury
1919, $1,500,000 ser. C were sold
1920, in V. 112, p. 648, showed:
Gross
Total Net
Bond
Fixed, Ac.t
Divid'ds Balance,
Earnings.
Income.
Discount. Charges.
(8%).
Surplus.
1920
$13,308,868 $3,082,949 $92,068 $1,450,163 $1,387,366$153,353
1919
$10,709,234 $3,351,012 $45,457 $1,605,8196 $1,381,650$318,007
1918
8,768,038
2,691,857
20,269
1.199,662
1,374,216
97.809
1917
8.304.412
2,869,072
20,269
1,469.952
1,334.716
44,136
Chairman, N. F. Brady; Pres., M. 8. Sloan; V.-P., J. C. Brady; V.-P. &
Gen. Mgr., W. F. Wells* Sec., E. W. Kells* Treas., E. A. Baily.
Office,
360PeailSt., Brooklyn, N.Y.—(V.-112,'p.!648,936,1147, 1286,1981,2086.)
REPORT.—For calendar year
of N. J., V. 85, p.
BROOKLYN UNION GAS CO.—Incorp. In N. Y. State Sept. 7 1895,
plan V. 61, p. 831, and V. 62, p. 1141; V. 64, p. 887; V. 80, p. 1854.
For
properties owned and controlled, see V. 109, p. 2359.
Daily manufacturing
capacity Dec. 31 1920. $89,600,000 cu. ft.
V. 101, p. 1630.
Suit, V. 99,
p. 61, 345, 1369.
New gas standard, V. 105, p. 1805
.Toluol, V. 105,
p. 2000.
Rates. V. 106, p. 609, 931; V. 107, p. 2010: V. 108, p. 1722,2244;
V. 109.P. 2359* V. 110, P. 80. 467, 661, 766, 873. 1292.1750' V.111, p. 1186.
2231; VT112, p. 852, 936,1744, 1981.
Favorable decisions, V. Ill, p. 1086.
per
CAPITAL STOCK.—The P. S. Commission, in Feb. 1920, granted the
permission to issue $2,000,000 stock for refunding purposes.
*07. '08. '09-'ll.
1912 to 1917.
1918 to Oct'19 1920
0
6K 6 y'rly
6A2ext yly.
6% (IK Q-J)None
dividend due to be paid in Jan. 1920 was passed.
V. 109, p. 2359.
company
1920.
Calendar Years—
Net
V. 112,
1919.
p.
747, showed:
1918.
$1,715,361
$1,664,783
$1,612,325
profits
1917.
$2,380,083
(16%) 1,600,000 (16) 1600,000 (18) 1900,000 (19) 1900,000
Dividends
Balance, sur. or
def...sur.$12,325
def.$81,639sur.$480,083
sur.$64,783
['12. '13. *14. '15. '16. '17. '18. 1919. '20. '21Regular
%{ 40 40 28 16 16 16 16
16 16
text
Extra
%l
-- 3
2
..
________
Paid in 1920: March 15, 4%; June 15, 4%.
Pres., D. S. Bushnell; V.-P., & Gen. Mgr., T. B. Greene; Sec., George
Chesebro; Treas., W. F. Livingston.
Main office, Lima, Ohio. N. Y
office, 18 Broadway.—(V. 112, p. 65, 747.)
DIVIDENDS.—
--
BUFFALO GENERAL
--
ELECTRIC CO.—(V. 112, p. 655.)
BROS.—Wholesale and retail coal dealers in N. Y. City.
A
consolidation Dec. 31 1912 under laws of N. J. V. 96, p. 363; V. 103, p. 2081.
BURNS
Calendar
Year—
in 1911.
8ee Standard Oil Co.
216, 790; V. 93, p. 1300.
Stock, $10,000,000; par, $50.
REPORT.—For calendar year 1920, in
DIVIDENDS—
1913. 1914.
common, %
IK
6
in stock
do
Liberty Loan._
—
—
Paid in 1921: Feb. 15, 2K%*. May
On
do
REPORT.—For year ended March
1915. 1916. '17. '18. '19.
5
5
5K
9
10
10
26 3K
—
—
...
5
16, 2K%.
'20.
10
__
'21'
See
text
311921 showed:
1920-21.
1919-20.
1918-19.
1917-18.
$29,475,298 $24,053,980 $21,286,870 $20,984,483
Gross profit
3,242,345
1,903.971
2,280,081
2,610,674
General exp. and taxes.
1,711,424
1,209,272
1,386,013
1,431,545
Other income.
Cr.231,866
Cr.332,356 Cr.242,374 Cr.270,704
March 31 Years—
sales
Net
—
-
Pref!
99.289
(cash).(10%)808,517
101,976
dividends (7%)—
Common divs.
,
106,435
(10)779,070 (10)719,407
114,319
(6)418,394
$854,981
$146,009
$310,600
$917,120
surplus..a$2,347,239 a$l,757,759 a$2,193,819 a$l,951,334
dividends paid in stock and other charges.
Pres., Michael F. Burns.
Office, 50 Church St., N. Y. City.—(V. 112,
p^2086.)
Balance, surplus
Profit and loss
a
After deducting common
LATE DIVS.—
BURNS[BROS. 1CE[C0RP.—See
Percent
The
p.
1169.
NatioEa)[Ccal A Ice Co. In V. 108.
May, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
[For abbreviations,
Date
Par
Amount
Bonds
&c., see notes on page 6]
Value
Outstanding
1902
1,000
1,000
1,000
1,000 Ac
100
Bush Terminal Co—Common stock $7,000,000,
Preferred (a & d) 6% cum redeemable at 110 text———
First M (V 76. p 974) conv sink fund since 1907- Col.xc*
-
First consolidated mortgage $ 10,000,000..
—
—
—
—_xc*
Butte Copper & Zinc Co.—Stock auth $5,000,000—
outte Electric & Power—See Montana Power Co,
Butte & Superior Mining Co,—Stock auth $3,500,000
Butterick Co—Stock $15,000,000 (bonds see text)....
Caddo Central Oil & Refining—Stock 200,000 shares
Consol 1st M $5,378,000 gold sinking fund.....
__G
Oaddo Oil 3c Bet Co 1st M (closed mtge) s f call 105
CP
Guar equip trusts due $120,000 s a, call 101.
CP
California Packing Corp—Com 500.000 shares (no par)
California Petroleum Corp—Stock, com, $17,500,000 auth
Pref(a&d) stock, 7% cum Apart red text $17,500,000 auth
Bonds
of controlled companies—
Amer Oilfields Co 1st M g red 105 beg *16 sink fd.
x
TERMINAL
CO.—ORGANIZATION,
$100
_
Secured gold notes due $95,000 Q; call. 101
Busb Term Bldgs Co M s 12,000,0008: gu s f.Coi. x. c&r*
do 7% cum pf stk gu call 120
-——
—
BUSH
STOCKS AND BONDS
$100
J
A
J Jan
15*21
A
A
1 1952
J
&
O Apr
J Jan
?!
M
A
1920
Q—M
Sept 29 *17 12H
Checks mailed
Sept 1 *16
New
lg
1,000
1910
in
jng on 42d St., Manhattan, and leases to tenants, see V. 108, p. 2239.
PREFERRED STOCK.—In addition to the Initial $5,000,000 pref. stock
(callable at 110 A divs.), may issue: (a) from time to time not exceeding
$5,000,000 additional pref. stock on consent of a majority of the directors
and a majority in interest of all the stock outstanding; and (6) a further
J15,000.000 pref. of
orlty in interest stock on consent of a majority of the directors 92. p,a maand of pref. stock outstanding.
Y. and 1034.
common
BONDS.—Of the consol. 5s, sufficient are reserved to retire the 1st 4s
of 1902.
See listing application, V. 88, p. 163; V. 79, p. 1956: V. 80, p. 999,
1005, 1177; V. 81, p. 1243; V. 90, p. 1427; V. 103, p. 1793: V. 108, p. 2239.
Bush Terminal Buildings Co. gold 5s cover office, Toft and other buildings
In N. Y. City and Brooklyn,
v. 89, p. 848: V. 92, p. 747, 1034, 1111;
V. 97, p. 1901; V. 100, p. 1675; V. 101, p. 1809; V. 102, p. 1344; V. 112, p.
1619.
The $2,000,000 7% gold notes of 1919, due $95,000 quarterly and bal¬
ance Nov. 1922 (but callable at 101 and int. on 15 days' notice
are secured
by $1,171,000 Bush Term. Bldgs. Co. 5s and $1,800,000 Bush Term.
Bldgs. Co. preferred stock.
*16. '17 to Jan'21«
F
6 g
867,300
New York
OfTice. 100 Broad St. N Y
:
Apr 11921
1H New York
July 1918, 50c
Q-J2
2,901,977 See text
14,642,100 2 H in *16
3%
1 1955
N Nov 1 1922
O Apr 1 1960
&
A
7"
J
&
J
6
4,378,000
J
&
J
1,817,000
F
&
A
600,000
None 471,708shrs See
text
Q—M
100
14.877,005
100
Q—J
10,739,526 7 "in" 1920
1919
1917
Places Where Interest and
Dividends are Payable
J see text
&
6
4 g
None 150,0003hrs New
AO.—Incorporated
*15.
text J
Last Dividend
and Maturity
3,000,000
p. 1956; V. 82. p. 1039; Y. 88, p. 163; V. 106. p. 399.
Also controls Busb
Terminal Buildings Co., owning $1,000,000 common stock ($2,000,000
auth.), and $3,700,000 preferred stock.
As to International Sales Build-
('06. *07. *08. *09. *10. '11.'12-*14.
\ 0
0
0
0
2
4
4 yrly.
Payable
2,300,000
2,917.000
6.629,000
2,000.000
8,998,000
3,700,000
10
New York on Feb. 10 1902 (Y. 74, p. 477).
Owns extensive terminals on
the water-front, 40th to 51st streets, Brooklyn.
V. 76, p. 974.1032; V. 79,
DIVIDS.
When
%
$6,560,600 See
100
1905
1919
1910
Bate
159
jan"Yi930
Jan
1 1927
See text
Philadelphia
Junel5'21 $1.50 oYec ksmal led "
July 1 '13 1 X% Columbia Trust Co, N Y
do
do
Aprl 21 IX %
A Feb 1930
A
Southern Tr Co. Los Ang
$1,000,000 Ridgway Co., June 30 1919.
V. 104, p. 1147.
The outstanding
obligations on Dec. 31 1920 included: real estate mortgage, $675,000;
Butterick Publishing Co. 8% cumulative preferred stock, $1,000,00u.
DIVIDENDS—
Since 1902.
In
Dec
J *03. *04.
%
t 4
4
1916 the dividend
*06.
4
was
*07.
4
*05.
—
3
omitted.
'08.
REPORT.—For 1920, in V. 112, p. 1286, shows:
Calendar Years—
>
1920.
1919.
Net profit after Fed. tax.
$307,713
$326,494
Preferred dividend
73,410
6,107
Balance, surplus
Profit and loss—
x
—
—
*09.
*10-*15.
1916'
1H
2^
3 yly.
2H
None since to Apr. 1921 ;
$234,303
$320,387
$2,198,485 x$l,964,182
1918.
1917.
$441,896
$261,014
.
—,— _
$441,896
$2,340,833
$261,014
$1,898,937
After deducting sundry adjustments.
Pres., G. W. Wilder; Treas., O. D. Wilder, Butterick Bldg., N. Y. City.
—(V. 112, p. 1286.)
CADDO CENTRAL OIL & REFINING CORPORATION.—ORGAN¬
IZATION.—Incorp. in N. Y. State May 2 1919.
In April 1921 the
company
barrels.
owned 79 producing; wells with daily production in excess of 4,000
refinery at Cedar Grove, having a daily capacity of 3,500
operation.
The operation of the small
Shreveport refinery was discontinued on completion of the new refinery.
This leaves the company with two refineries at Cedar Grove, having a com¬
The
new
barrels has been completed and is in
bined
daily refining capacity of 6,500 barrels.
5
5
(2H J & J)
2H
5
(2H J & J)
The special dividends of 2)4% in common stock
paid semi-annually on
the common shares from Jan. 1916 to Jan. 1921, incl., were distributed on
account of increase in value of property.
V. 104, p. 259; V. 108, p. 173,
Its holdings in the oil fields comprise: (a) 31,000 aeres in fee in Bossier
Parish, La.; (b) 2,238 acres in fee In Caddo Parish. La.; (c) approximately
25,000 acres under lease distributed over North Louisiana in Caddo, Homer,
Red Rover, DeSoto, Little River, Webster and Bienville parishes; (d) up¬
ward of 10,000 acres in Texas and Arkansas.
2631.'
EARNINGS.—For cat. year 1920, in V. 112, p. 1147, showed: Tota*
income, $1,881,635; net profits, $1,333,648; depletion A depreciation, $460,584; set aside to provide for abandoned leases, $500,000; surplus for year,.
$373 064
Bonds,'See., see V. 108, p. 1938. The 6% equipment trusts issued In*
Common
Do
in stock
1
—
...
—
,V.
.
REPORT.—Year 1919:
Calendar Years—
Gross
earnings
—...
$2,131,571
1,756,025
491,853
451,632
29,690
138,000
v
Taxes
Depreciation
Preferred divs.
1918.
$2,124,457
1,777,229
492,440
449.747
29,345
138,000
Total net income—,
Interest
1919.
(6%)—
1917.
$2,157,210
1,738,770
451,858
302,465
1916.
$1,955,237
1,684,802
453,097
292,081
138,000
138,000
Balance, surplus
$66,425
$72,503
$301,556
$282,868
Pres., Irving T. Bush; G. R. Simonds, V.-P. A Treas.; Sec., H. F. Reid.
Office, 100 Broad St., N. Y.—(V. Ill, p. 185, 297; V. 112, p. 260.)
BUTTE COPPER & ZINC CO.—Organized under laws of Maine.
Nov. 22 1904.
Is engaged in developing, mining and operating mines and
mineral lands, and in milling zinc and manganese ores.
Property, con¬
sisting of ten claims, is owned in fee and is located in the centre of the City
of Butte, Silver Bow county, Montana, and is a compact group covering
about 3,000 feet along the Black Chief vein.
CAPITAL STOCK.—Auth., $5,000,000;
Voting trust expired Feb. 1
outstanding, $3,000,000.
Par
1920.
DIVIDENDS.—A dividend of 50 cents per share was paid in July 1918;
none
since.
LEASE.—About July 1915 the Anaconda Copper Mining Co. started
development operations under a lease, under the terms of which net earn¬
ings-from ores recovered is divided 50% to Butte Copper A Zinc Co. and
50% to the Anaconda Copper Mining Co.
EARNINGS.—For 1920, gross, $517,844; net, $446,010; other income*
$23,109; depreciation, $10,000; bal., sur., $459,118; total surplus, $1,111,576.
OFFICERS.—Albert J.
Seligman, Pres.; Albert Fries, V.-Pres.; A. I.
Bailey, Sec. A Treas.
BUTTE & SUPERIOR MINING CO.—ORGANIZATION.—Incor¬
porated In Arizona Oct* 2 1906.
Owns mining claims in Silver Bow
Co., Mont, (area 164.7 acres), interests in other claims having an area of
58.3 acres and surface rights, Ac.
Application to list describing properties.
Ac., V. 100, p. 100, 1602; V. 102. p. 1635.
Output chiefly zinc spelter.
Flotation separation, V. 105, p. 1211, 1422: V. 106, p. 1120, 2231, 2446
2759; V. 107, p. 289, 606, 1103; V. 108, p. 588. 2530; V. 109, p. 373,1082.
Ore body settlement, V. 109, p. 890.
The Butte-N. Y. Copper Co.
issued $150,000 10-year 1st M. con¬
vertible bonds dated June 1 1915 (incomes for 5 years), $500,000 authorized
Y. 100, P* 644,1754. Present name assumed In 1916, V. 102, p. 1635*
STOCK.—Of the
LATE DIVS.—
$3,500,000 auth. stock, $2,901,977 is outstanding.
June.
Sept.
Dec.
Regular
%
30
40
12H
12
6X See
6 \i
Extra
—%
150
300
12H
12
text.
In June 1917 paid quarterly 12M% and a further 12 H% out of capital
ut
accumulations prior to March 191
"13; DU in Sept. only 6 X and 6 H% from
such accumulations; likewise in June declared an extra dividend of 4%
to aid in Red Cross distributions. Y. 105, p. 1000.
In Dec. 1917 suspended
dividends pending determination of oil flotation suit.
Y. 105, p. 2096.
1915.
1916.
1917—March.
REPORT.—Year 1920. in V. 112,
Calendar Years—
Total
revenue-
—_
Net revenue
Other income—-...-—
Res.for tax.conting. ,&c.
Balance, surplus.
— —
1920.
$3,779,276
97,257
98,433
7,761
$187,929
p.
$4,861,170
916,273
126,256
177,549
$864,990
1918.
$5,915,244
651,924
62,874
86,450
$628,348
Capital Stock.—On May 3 1920 stockholders authorized (1) change of
to no par value; (2) increase of shares from 150,000 to 200,000;
(3) sale of 50.000 shares at discretion of board of directors.
Chairman, E. Kirby Smith; Pres., Lawrence B. Dunham; V .-P., J. Gualey;
Sec. A Treas., E. K. Henderson.
Office, Shreveport, La., and 61 Broad¬
way, New York.—(V. 112, p. 1147,1981.)
stock
CALIFORNIA PACKINO CORPORATION (OF N. Y.).—ORGANI¬
New York to acquire (V. 103, p»
1212), free of mortgage or other funded debt, the business, assets andpr operties of J. K. Armsby Co.; California Fruit Canners* Association; Central
California Canneries: Griffin A Skelley Co.; and about 80% of the cap¬
ital stock of the Alaska Packers' Assn.
The largest packer and dish
trlbutor of California dried fruits and canned goods, and an important fac¬
tor in Hawaiian pineapple industry; Alaska Packers' Assn. is the largest
packer of canned salmon in the world.
Hawaiian property, V. 104, p. 2454.
Official statement of May 10 1917 to N. Y. Stock Exchange in V. 105, p.
ZATION.— In Otit. 1916 incorporated in
1203.
STOCK.—The pref. stock was called for
redemption at 115 and accrued
Pref. div. No. 1, $1 38, Jan. 1 1917, at full 7%
Divs. on common, June 15.
1917 to March 1918, 50 cts. each ($2 p. a.); June 15 1918 to Dec. 15 1919,
$1 quar.; Mar. 15 1920 to June 15 1921, $1 50 quar.
dividend
on
April 1 1920.
rate from Oct.
19 1916; to Jan. 1920, 1 X%-
ALASKA PACKERS ASSOCIATION (Controlled)
(payable in Liberty bonds)
1917.
$6,716,437
2,347,496
103,191
2,177,777
$272,910
OFFICERS.—Pres. A Gen. Mgr., D. C. Jackling; V.-Pres., Chas. Hayden: V.-P. A Gen. Counsel, K. R. Babbitt: Sec., A. J. Ronaghan; Treas.,
O. W. Peters.—(Y. 112, p. 1147, 1620, 2086.)
paid special dividends;
follows: Feb. 9 1918, 20%; Feb. 101919,25%;
income of
1920 and)
REPORT.—For year ending Feb. 28 1921:
Consol. Results —Years ending Feb. 28.
1010-90
1090-91
Profit (after all taxes)—$4,707,425
y''Income from
Total
$2,396,000
1,359,861
1,293,279
$4,253,015
Preferred dividends (7
Common dividends
Surplus
1018-10
$5,882,541
loss454,410
investments"—
income
$7,242,402
468,020
$3,689,279
$5,171,131
$1,762,713
570,898
($6)2,830,248 ($4)1603,250($4) 1355,668
„
—
—
$1,422,767
y This item includes in addition to dividends actually received, the
amount earned but left invested in properties of Alaska Packers' Association.
V. 106, p. 299, 393,398.
OFFICERS.—J.
K.
Armsby, Chairman of the Board: R. T. Bentley.
Pres.; H. Z. Baldwin, Sec.;
1870, 1981.)
L. A. Woolams,
Treas.—(V. 112, p. 1744,
CALIFORNIA PETROLEUM CORPORATION.—ORGANIZATION
.
—A holding company incorporated in Virginia Sept. 27 1912. Owns 99% of
of American Petroleum Co. (V. 92, p. 1111: V. 91. p. 216); which
owns or controls 2,000 acres of land in the Ooalinga, Lost Hills and Los An¬
stock
geles
districts;
and
99%
of American Oil Fields Co.,V. 92, p. 957),
Midway Co., Ltd., which owns 420 acres in Midway oil field.
In Mar. 1919
was authorized to purchase at par a further $4,000,000 of last named com¬
pany's stock.
V. 108, p. 1062.
Other subsidiary companies are the Niles
Lease Co. and the Midland Oilfields Co., Ltd.
During 1920 the Midland
Oil Co. (a subsidiary) was dissolved.
Also owns a half-interest in the Red
Star Petroleum Co.
On Dec. 3119-iO there was in hands of public $192.521
stock and also $867,300 bonds (see table above) of the subsidiary companies;
remainder owned by California Petroleum Corporation.
DIVIDENDS.—Divs. on common, Jan. 1, Apr. 1 and July 11913, IX %
V. 97, p. 239,668. On pref. in 1913 and 1914, 7%; 1915,
5H%; 1916, 4% (1% Q.-J.); 1917, 4%: 1918. Jan. and April, 1%; July
and Oct., 1X%; Jan., and again in April, 1919,IX % and 2% on accumu¬
lations.
July 1919 paid IX regular and 2>4 on accumulations.
In Oct,
1919 paid 1 % regular and 2X on accumulations, which, it Is understood,
clears up all accumulations on the pref.
Paid IX% quar. Jan. 1920 to
each; none since.
BUTLER BROTHERS, CHICAGO.—(V. 112, p. 375.)
BUTTER ICK CO.—ORGANIZATIONI ncorporated In N. Y. on Jan.
15 1902.
Owns stocks of various cos. publishing magazines, manufacturing
paper patterns. Ac.
See Y. 75. p. 237.
Stock was on Oct. 19 1909 auth¬
orised to be increased from $12,000,000 to $15,000,000, to acquire the
as
Feb. 10 1920, 20%.
Extra dividends of $2 each were paid from
insurance and investments Feb. 10 1917, Feb. 9 1918, Feb. 10
Feb. 10 1921.
which claims 4,200 acres In the Midway, Sunset, McKittrick and Lost
Hills oil districts of Southern California, and all the stock of Petroleum
1620, showed:
1919.
the Standard Tank
Feb. and Aug. 10
,
Common divs. (cash)..(5%)300,385(5%)285,959(5%)272,303(5%)259,302
Common divs. (stock).(5%)300,886
(5)286,388
(5)272,588
(5)259,453
value, $5.
1920 are guaranteed, prin. & int., by the company and
Car Co.
They mature $120,000 semi-annually each
from Aug. 10 1920.
V. 110, P. 766.
Apr. 1921.
STOCKS AND
INDUSTRIAL
160
Date
Par
Amount
Rate
When
Last Dividend
Bonds
Value
Outstanding
%
Payable
and Maturity
MISCELLANEOUS COMPANIES
[For abbreviations,
&c.,
see
notes on
6]
page
$10
Callahan Zinc Lead Co—Stock
10
Calumet & Arizona Mining Co—Stock $0,500,000
Calumet & Hecla Mining—Stock ($12 per share paid)
25
...
100
100
-
100
► Preferred stock (see text)
Central Aguirre Sugar Co—Stock $6,000,000 auth
Central Leather Co—Common stock $40 000,000..
Preferred (a & d) 7% cumulative $40,000.000
20
First lien gold bonds $45,000,000
a
After deducting $155,500 in
o
,1917.
$3,185,327
$2,462,278
$4,154,354
$3,056,883
104,582
120,725
Reserve for Federal taxes
and
fnn'ntl
102,219
Special reserve net prod_
stock
„
•.!
,
I
production
$10,986; bal., der., $28,371.
CALUMET & ARIZONA MININQ
CO.—ORGANIZATION.—Incorp
properties in Bisbee, Ariz., (Mammoth
Group). and Douglas, Ariz.
On Dec. 31 1920 owned also 1,229,741 of the
1.800,000 outstanding shares of $5 each of the New Cornelia Copper Co.
DIVS.—
'08-T1. '12. *13. '14. '15. '16. 17. '18. 1919. 1920.
1921.
Percent
40 yrly. 42^ 50
30 32^ 90
110 80
30
40
text
In Arizona in 1901 and owns mining
In 1921: Mar. 21. 5%.
REPORT.—For cal. year 1920,
shows;
1917.
1918.
1919.
1920.
62,397,017
51,357.154
45,087,408
$11,418,573 $10,286,477 $15,628,530 $20,035,866
Net for dividends.
1,849,201
524,416
4,083,238
6,628,500
Dividends paid..
2,570.084
1,927,563
5.140,062 x6,424,762
Rate.....
14(5%)
(30%)
(80%)
(100%)
x Also paid a 10% dividend ($642,479) out of reserves for depreciation
Gross income
..
1921—April—1920.
„
.
.
•
1921—4 Mos.—1920
(lbs.)
2,204,000
3,176,000
11,427,672
13.978.000
Pres., Gordon R. Campbell, Calumet, Mich.—(V. 112, p. 165, 655, 852,
Production
1402,
1520,
1870,2087.)
CALUMET & HECLA MINING
share
CO.—Stock. $2,500,000; $12 per $25
V. 93, p. 941; V. 98, p. 239.
Decision 1915, V. 100, p. 232.
purchased Tamarack Mining Co. for $3,600,000.
V. 104, p.1047
$2,400,000 8% notes of Copper Export Association, Inc.
paid in.
In 1917
Guarantees
V
112
P
LATE
655
DIVS.—;'09. *10. 'll. '12. *13. '14. '15. '16. '17. '18.
P.O.since 1906../108 116 96
168 128 40
200 300 340 text.
In March and June 1919 dividend was omitted owing to unsettled
of copper market.
In Sept. and Dec. paid 20% ($5).
V. 109, p. 778.
March 1920 dividend omitted.
June 1920 paid 20% ($5).
'19
'20
40
20
condition
V. 108, p. 1062,2435;
V. 110, p. 1091.
In
1921—March—1920.
1921—3 Mos—1920.
(lbs.)
9,147,000
9,880,377 23,776,384 28,1^1,100
Operations suspended on April 1 1921.
V. 112, p. 1350.
Production
Aug
— —
1402, showed: Receipts for
delivered (43,019,141 lbs.), $8,069,950; and after adding 'other
(dividend of $263,486 on stocks owned, &c.), and deducting all
expenses (including $3,635,781 loss by reduction to market value), dividends
paid (20%), $500,000, there was a deficit for the year of $4,233,743.
Pres.,
R. L. Agassiz.—(V. 112, p. 375, 655, 747, 936, 1147, 1402, 1744.)
REPORT.—For cal. year 1920 in V. 112, p.
copper
income"
CAMBRIA STEEL CO.—Incorporated in Pennsylvania in Nov, 1898, per
plan, V. 67, p. 688, leasing Cambria Iron Co. for 999 years at 4% on $8,468,000 stock. V.68,p. 128; V. 75, p. 443; V. 76. p. 862; V. 78, p. 1166.
In 19d6 Mldvale Steel A Ordnance Co. bought 97% of the stock at $81
a share.
V. 102, p. 616; V. 101. p. 1554, 1630, 1715, 1809, 1976.
DIVS.—f'02 to *09. '10. '11 to '13. *14. '15. '16. *17. '18. '19.
yearly
634 5yearly.
5
5
6M
6
6
6
t
1
— \
2H
6
6
3
Per cent..(3
'20.
'21.
6
See
2
text.
V. 112, p. 2194.
Extra
In 1921: March 15, 1%; June 1921 div. omitted.
REPORT.—For calendar year 1920, in V. 112, p. 1981, showed:
Years—
'»
1920.
1919.
1918.
Calendar
Federal taxes—_.$13,634,000
$6,869,802 $16,691,462
Depreciation, &c___
5,312,164
2,355,418
8,785,207
Federal taxes
See "a"
See "a"
See "a"
Cambria Iron lease
338,720
338,720
338,720
Dividends
(8 %)3,600,000 (9) 4,050,000 (12) 5400,000
Net earnings after
mailed
'20 IX Checks mailed
1921 1H Checks mailed
Central Union Tr Co, N Y
1025
31 1920.
No mortgage without consent of 75%
ings In V. 109.
to amount of such Common
of 1st Pref. stock.—See offer¬
as
1276. 1528.
^DIVIDENDS.—On 1st pref., 1H% quar., Jan. 1920 to April 1921; on
2d pref., l%% quar., Jan. 1920 to Jan. 1921.
April 1921 div. omitted.
EARNINGS.—For the year ending June 30 1920, net profits before
Fed. taxes and depreciation were $1,061,107.
Federal taxes for the fiscal
p.
Sales amounted to $11,-
Wis.; W. C. Quarles, Milwaukee, Wis.; Henry Russell Piatt. C. F.
Wm. A. Tilden, B. F. Troxell (Asst. to Pres.), Chicago.—(V. 112, p.
Glore.
1028.)
(J. I.) CASE THRESHING MACHINE CO.—ORGANIZATION.—Incor¬
porated in Wisconsin In 1880 as successor of a co-partnership formed in
1842.
Has plant at Raoine, Wis., on navigable waters, covering over 40
acres of
floor spaoe.
Manufactures threshing maohines, olover hullers,
•team traction and farm engines, steam-road rollers, oil tractors, both for
Owns 100 acres additional at
gasoline and kerosene, automobiles, Ac.
Racine, on which buildings have been erected and 192 acres at Fort William,
Ont.
V. 94, p. 353; V. 98. p. 1152; V. 101, p. 372; V. 107, p. 1834.
On
July 1 1919 merged with Grand Detour Plow Co. of Dixon, 111.
V. 109, p.
273.
Compagnie Case de France, a subsidiary, operates in Western Europe
and Northern Africa.
Operated 70 branch houses on Dec. 31 1920.
Com¬
pare V. 112; p. 1305.
STOCK.—The voting trust as
extended expired by limitation Jan. 1
1918.
V. 99. p. 1676, 1913; V. 105, p. 2545.
Pref. rights, Ac.. V. 106,
p. 1248, 1580.
Diva, on pref., April 1912 to July 1 1921, 1*% quar. (7% p. a.).
On Jan. 28 1919, after an Interval of 8 years, dividends were resumed on
the common stock with payment of 7% in Liberty bonds.
V. 108. d. 271.
In Jan. 1920 paid 10% in cash.
A com. stock div. of 39,000 shares of
new com. stock was paid Dec. 15 1920.
V. Ill, p. 2046
Notes payable Dec. 31 1920, $7,160,000.
REPORT.—For calendar year 1920, in full,
1920
1919
Gross sales.
Profits.
Interest, Ac
—,
in V. 112, p. 1304:
1918
1917
$34,547,321 $32,342,653 $25,162,769 $17,657,754
4,791,942
6,021,607
5,436,505
3,775,922
471,839
416,046
572,621
726,540
625,350
683,140
Depreciation
225,032
al,435,615
143,315
274,295
675,000
850,000
275,000
880,250
850,500
850,500
143,761
al,251,968
bonds canc.,Ac
Written off accounts, Ac.
Prem.
on
Reserve for contingencies
Prov. for Federal taxes__
1,000,000
700,000
Preferred dividends (7%)
Common dividends
910,000
870,000
581,000
—
Balance, surplus
$156,963
$1,448,232
$1,502,737
$1,506,273
a European assets written off,
amortization, Ac.
OFFICERS.—Frank K. Bull, Chairman of Board; Warren J. Davis,
Pres. A Treas.; Ellis J. Gittins, D. P. Davies, Edwin E. Russell, Wm. B.
Brinton and Milton H. Pettit, V.-Pres'ts; W. F. Sawyer, Sec.&Office,
Racine, Wis.—(V. 112, p. 1141, 1275, 1304.)
CELLULOID COMPANY—ORGANIZATION.—Incorp. Nov. 28 1890
in New Jersey.
Business consists of manufacture and sale of "Celluloid"
in rods,, sheets, tubes and other forms in imitation of ivory, tortoise shell,
amber and other natural products; in "roll celluloid," and of the manufac¬
of useful and ornamental articles, aggregating
approximately 10,000, counting various sizes and colors. Plants,
acres, located at Newark, N. J.
STOCK.—The stockholders on March 18 1921 increased the auth. capital
stock from $6,000,000 (all Common) to $10,098,000, to consist of $3,000,000
8% Cum. Pref. stock and $7,098,000 Common stock.
The (common)
stockholders of record March 8 1921 were given the right to subscribe at par
for the $3,000,000 pref. stock at the rate of one share of the Pref. stock for
each two shares of their holdings, and also to the unissued $1,183,000
common stock at par, at the rate of one share for each five shares of their
holdings.
V. 112, p. 1286.
For pref. stock provisions, Ac.^compare
V. 112, p. 1521.
DIVIDENDS.—
f 1899. 1900. 1901. 1902 to'15. '10. '17. *18. '19.'20.
Since 1899--—-% 1
6
7
7
8 yearly. 19H 10
10
10 10
In 1921: March 31, 2% quar. and 2% extra.
Pres., M. C. Lefferts; V.-Pres'ts, W. E. Pulis, N. M. Clark, Henry
Rawle and M. L. Havey; Sec. A Treas., Carleton Montgomery.
Office,
30-36 Washington Place, N. Y.—(V. 112, p. 852, 936, 1147, 1286, 1521,
ture and sale of a wide variety
in number
covering 28
1620.)
CENTRAL AGUIRRE SUGAR
surplus
CO.—Incorp. in Porto Rico Dec. 19
reincorporation of the Central Aguirre Sugar Cos., a voluntary
1905 in Mass.
Owns the entire stock of the Ponce
A Guayama RR. Co.
In Jan. 1920 purchased a controlling interest in the
Central Machete, a sugar mill situated within 5 miles of Aguirre.
Prop¬
erties are located at Jobos, Porto Rico.
Dividends.—
'09. '10. '11. *12. '15-T4. '15. '16. '17. *18. '19. *20-'21
Regular
7
10
5
6
0
10 4334 10 10
10
See
Extras
-—
50
30
10
text
In Jan. 1920 paid $2 50 and $7 50 extra on the old $100 par value stock.
On new $20 par value stock paid as follows: Apr. 1 1920, $2; July 1 1920,
$5; July 31 1920, $5; Oct. 1 1920 to Apr. 1 1920, $2 quar.
1918
as
a
trust, organized Aug. 14
—.
«•-
-_
--
--
Report.—For year ended July 31 1920, in V.
July 31 Years—
1919-20.
Total income
Net income-
$6,383,116
$125,664
$2,167,535
Chairman, A. C. Dinkey, N. Y.; Pres., A. A. Corey Jr., Phila.; Sec. &
Treas., D. Brewer Gehly.
Office, Widener Bldg., Phila.—(V. 112, p. 747,
1286, 1981, 2194.)
Balance,
2
1
1
—
and depletion.
936,
Checks
See text
Text
7 In 1920
Q—J
Apr
A
A
O Apr
5 g
D>IREOTORS.—H. M. Wallis (Pres.), G. C. Weyland (V.-P.), R. O.
Hendrickson (V.-P.), W. M. La Venture (Treas. & Acting Sec.), Racine,
Sept. 30 1920 total Income was $321,924;
—
Q—F
text
See text
&were $110,000 and depreciation $277,742.
$431,132
$1,580,352
costs, exp„ taxes. &c., $339,310; improvements,
N. Y. office, 61 Broadway.—(V. 112, p. 375.)
Copper (lbs.)
8
See
189,876
(4)493,721
t Also paid $864,012 on account of accumulations.
1920 was 3.632.570 bbls., against 3,115,4761bbls. in
For 3 mos. ended
Q—J
July 1 21 1H% Checks mailed
10inl920 Q—M 31 Mar 31 '21 4% Office, 36 Wash Pi, N Y
7 in 1920
217,808
250,000
290,,261
4(7)846,512(8*)1018300
155,980
157,542
$303,282
$784,775
The net production
1919
JW Chairman, Thos. A. O'Donnell; Pres., I. W. Fuqua; V.-Pres., L. P. St.
Clair, R. W. Crawford and T. J. Crumpton; Sec. & Treas., W. D. Stewart.
Office, 1034 Security Bldg., Los Angeles, Calif.—(V. 112, p. 261, 1392.)
CALLAHAN
ZINC-LEAD CO.—Formerly Consolidated Interstate
Callahan Mining Co.
Name changed to present title on Apr. 12 1920.
ORGANIZATION.—Organized in Arizona June 12 1912, and Is engaged
In mining and milling zinc and lead ores in Shoshone County, Idaho.
Stock
auth., $5,000,000, in $10 shares.
Paid dividends regularly since April 1
1915 to June $0 1917, in all $13 50 per share, or $6,277,365 in divs.; Sept.
1917 none, pending certain improvements. Sec.: Jan. 2 1918, 50 cents (5).
June 15. 50 cents (5%) quarterly.
In Oct. 1918 paid 76 cents (7>j» %> quar.
none thereafter until Feb. 1920 when $2 was declared payable in quar. In¬
stallments of 50c. each on Mar. 30, June 30, Sept. 30 and Dec. 30 1920.
In Oct. 1918 the 10-year contract of 1914 with the American Metal Oo.
for the sale of all the company's output was canceled by mutual consent
and the Metal Co. Interests surrendered all their holdings In the capital
Balance, surplus-....
'211
See text
the Common stock without reservation
div.
% By check
do
%
'211
Jan 3
^
and contingencies
550,000
Preferred dividends—<7%)770,439
Q
Apr 1
Q—J
Q—J
special depr eciation f und Dec.
_
$4,621,654
$3,128,711
1,340,505
68,871
Net earnings
Depreciation, &c
on bonds, Ac
age
upon
1392, showed:
1919,
1918.
1920.
13.000.000
7,098.000
3,000,000
3,000.000
39,701,030
33.299,050
a27.888.150
$8,719,000 in stump
$6,391,061
$4,071,231
1,101,569
Interest
1905
s
treasury and
REPORT.—Year 1920, in V. 112, p.
Calendar Years—
•Gross earnings
100
100
fcu
Eq
Where Interest and
Dividends are Payable
Places
See text.
$4,629,900
Q—M 30
*2
text Q—M 24 Mar 21 '21
5%
6,425,210 See
June 30 *20 20%
Text
2,500,000 See text
A
&
O Apr 1 1921 2% Checks mailed
4
8,468,000
do
Mar 15 *21 1%
45.000.000 See text
Text
50
Iron—Stock (4% guaranteed)
...
50
Cambria Steel—Stock $50,000,000
;
Bonds of subsidiary companies—See Mid vale Steel A Ord nanceCo
None
125.000shrs
(J I) Case Plow Works Co.—Common stock 125,000 shares
100
7
3,500,000
1st pref (a & d) 7% cum $5,000,000 call 110
100
7
3,500,000
2d pref (a & d) 7% (rw-c) Ajpartic $5,000,000 call (text)
100
13,000.000 See text
(J I) Case Threshing Mach Co—Com stock $20,000.000
Cambria
Pref stock (a A d) 7% cum $20.000,000..
Celluloid Co—Common stock $7.098,000
[Vol. 112.
BONDS
-----
Depreciation, Ac
Income and
Other
excess
$6,267,962
$2,193,815
$5,895,967
$2,060,128
$163,614
$152,528
$147,763
.
Dividends
profits taxes
reserves.
112, p. 253, showed:
1918-19.
1917-18.
$17,270,320
$9,342,106
(8234)2,463,887 (10)299,563(40)1200,000
3,233,672
1,336,967
750,766
CANADIAN CAR & FOUNDRY CO., LTD.—(V. 112, p. 2328. 2421,
2426, 2524.)
CARBON STEEL CO(V. 112, p. 65.)
CASE PLOW WORKS CO.—ORGANIZATION.—Incorp. In
29 1919 to acquire the property, business Ac. of J. I. Case
Wallis Tractor Co. of Racine, Wis.
Manufactures plows,
tillage implements and Wallis tractors.
V. 109, p. 1276, 1528. Official
statement to New York Stock Exchange, V. 110, p. 2675.
STOCK.—The 1st Pref. Is cumulative.
Redeemable at 110. Annual
sinking fund of $175,000 beginning in 1923 provides for its retirement at
110.
The 2d Pref. is non-cumulative.
Redeemable at 115 on 30 days'
notice when 1st Pref. is all retired.
Shares equally in any divs. declared
(J.
I.)
Delaware June
Plow Works and
Balance, surplus
OFFICERS.—Pres
A Gen. Mgr., Chas. L.
J. Brooks Keyes.
N.
$2,730,165
CENTRAL FOUNDRY
V. 90, p.
CO.—(V. 109, p. 479, 580, 680; V. 110, p. 873.)
1173; V. 94, p. 624.
106, p. 921.
$712,365
—
chased Wilder Tanning Co.,
2555; V.
$401,758
; V.-Pres., John Farr; 2d V.-P.
Carpenter; Treas., Chas. G. Bancroft; Sec. A Comp.,
Y. office, 129 Front St.—(V. 112, p. 253, 268.)
Output, sole leather.
In June 1917
pur¬
with tannery at Waukegan, 111.—V, 104,
p.
mat, 1921.]
INDUSTRIAL
.
MISCELLANEOUS COMPANIES
[For abbreviations,
&c., see notes on
page
STOCKS AND BONDS
Date
Par
Amount
Bate
When
Last
Dividend
Bonis
6]
Value
Outstanding
%
Payable
and
Maturity
1912
$300 &c
Central States Electric Corporation—Com stock $10,000,000
Jrrei
scock
Secured
/7o
cumulative $30,000,000---------
-
gold notes red 101 s f, conv pref stock „_Gc*
Cerro de Pasco Copper Corp—Stock 1,240,000 shares auth.
Convertible sinking fund gold bonds (see text)__Col.c*&r*
Certain-teed Products Corp—Com shares 150.000 (auth)__
First preferred stock 7% cumulative $10,000,000 (auth)__
Second pref stock 7 % cum $5,000,000 conv Into com (auth)
Chandler Motor Car Corp—Auth capital stk 300,000 shrs
Che* & Potomac Tel Co—Cons M $1,500,000 • fd call 103 c*
Che* & Potomac Teleph Co of Va—1st M g r«d_
c*
Chesebrough Manufacturing Co Consol—Stock $1,500,000
Pref stock 7% cum $1,000,000 non-voting call (text)
Chevrolet Motor Co—See General Motors Go
Chicago Edison Co—See Commonwealth Edison Co
19
couv
None
1921
1,000
None
100
100
None
1899
1,000
100 Ac
1913
100
100
-
Statement to N. Y. Stock Exch.,
V. 81, p. 504; V. 82, p. 159.
BONDS.—Secured by a 1st M. on all the assets and land* acquired
and, pending their physical acquisition, by the shares of old company
(nearly all acquired) and all the stock and bonds of its subsidiaries, includ¬
ing $10,000,000 stock of the Central Pennsylvania Lumber Co (authorized
amount $20,000,000)
In Dec. 1913 a sinking fund was established.
V.
76,^1196; Y. 78. p. 50; V. 81, p. 1176; V. 96, p. 648; V 98. d. 75; V. 104.
Total auth. bond issue: $45,000,000, viz. (on Dec.311920): unissued.
$8,237,350
(of which $5,808,000 were reserved for retirement of U. 8.
Leather Co. debentures and are now free bonds);
held in stump age and
special depreciation fund, $8,719,000; in general treasury, $155,500, less
i1,500 held for Bills payableU.Dec.Leather pref. stock; balance outstanding.
exchange of 8. 31 1920, $9,500,000.
27,888,150.
1920
Common
1915.
7
1914.
2
1916.
3
1918.
1920
3X
2
1919.
5
1917.
5
5
do
extra
4
4
2
2
In 1920: Feb. 2, 1 X% quar. and 2% extra; May 1, 1 X%> Aug. 2,
Nov. 1920 div. omitted.
V. Ill, p. 1281.
-.—
Preferred dividends regularly 1X%
1X%:
1
*
*
*
*
*
1921(3
mos.)_
x69,322 x3,492,027
459,552
582.732
x4,534,311
1920-X13,647,096x20,590,005 1,838,208 2,330,^30 (2^)992,522 x25,751,665
22,104,591 ♦16,126,689 1,838,208 2,330,930 (9)3,573,081
8.384,470
1918—12,922,437 »8,314,642 1.838.208 2,330,930 (7)2,779,063
1,366,441
1917—21.066,061 ♦16,243,062 1,838,208 2,330,930 (9)3,573,081
8,500,844
♦
After deducting
x
Deficit.
provision for Federal income and excess^profits taxes.
DIRECTORS.—Chairman Edward O. Hoyt, A. Augustus Healy, Geo.
D.
Hallpck, Max J. H. Rossbach, W. W. Heroy, Theodore R. Hoyt, War¬
Morton, Lewis H. Lapham, Ernest Griess, Arthur W. Wellington.
Geo. W. Childs, Wm. McAdoo Jr., William H. Harkness, Chas. Einsiedler
G.
A. T.
Lynch.
Officers.—Pres., George W. Childs; 1st V.-P., W. G. Horton; 2d V.-P.,
Wm. McAdoo Jr.; 3d V.-P., Wm. H. Harkness; Sec., Fred E. Knapp
Treas., H. W. Hill.
New York offices. Whitehall Building, Battery Place
and West St.—(V. 112, p. 846, 852, 1870.)
CENTRAL TERESA SUGAR CO.—(V. 111. P. 992, 1086, 2232.)
CERRO DE PASCO COPPER CORPORATION.—See V. 101, p1467, 1716.
Incorp. in N. Y. State in Nov. 1915 and acquired extensive
copper,
&c., deposits in Andes Mountains, Peru.
DIVIDENDS.—
1916.
Extra
-
1917.
1918.
1919.
1920.
$4 00
-
Regular
$4 00
$4 00
$4 00
$4 00
$175
$100
1921.
See
text
In 1921: Mar. 1, 50 cents; June 1921 div. omitted.
V. 112, p. 2087.
The $8,000,000 10-year conv. sinking fund 8% gold bonds dated Jan.
1921, are convertible into stock at rate of 30 shares of stock for each
1
$1,000
of bonds.
of 20% of net earnings before in¬
terest charges and depletion, but not less than $840,000 p. a., to purchase
bonds in market at not exceeding 105% and interest or to their redemption
at that price.
If subsequent mortgage be placed on the real property now
owned, or if any pledge be made of any of the stocks or securities of the
Cerro de Pasco Ry. or of the Sociedad Minera Backus y Johnson del Peru,
this issue is to be seemed by a prior lien thereto.
V. Ill, p. 2426.
A semi-annual sinking fund is provided
REPORT.—For cal. year 1920 showed:
Calendar Sales of
Net, after
Other
Bond
Year.
Copper.&c. Taxes,<SU,
Income. Interest.
$
$
$
$
,
Dividend
Paid.
$
Balance,
Sur.
or
Def
$
3,592,917 def.2,973,497
11,463,572df1,736,633 2,355,065
1919— -14,884,050dfl,016,324 3.299,952
3,592,909 def.1,309,378
1918---22,867,807
127,128
627,044
58.000 4,393,352 def.3,951,436
Pres., L. T. Haggin; Sec. & Treas., H. Esk Moller.
Office, 15 Broad
St., N. Y.—(V. 112, p. 65, 375, 655, 747, 1147, 1402, 1620, 2087.)
CERTAIN-TEED PRODUCTS CORPORATION.—ORGANIZATION.
—Incorporated in Md. Jan. 30 1917 as successor of the General Roofing
Mfg. dorp.
Roofing plants located at East St. Louis and Marseilles, 111.,
York, Pa., Niagara Falls, N. Y., and Richmond, Calif. Paint and varnisd
plants, St. Louis. Mo.
A new paint and varnish plant on the Pacific Goa<U
was completed in 1920.
Purchased the capital stock, &c., of Thomas Potter
Sons Co., Inc., of Phila., in Aug. 1920.
V. Ill, p. 796, 992.
Produce?
prepared roofings, building papers, tarred felts, insulating papers, paints,
varnishes, linoleums, floor coverings, oil cloths, &c.
No bonds,
v. 107.
p. 1000,1669.
Dividends on 1st and 2d pref. in full to April 1921.
Initial
dividend on com. Jan. 28 1918, $4 per share: none thereafter until July 1
1920, when $1 quar. and $1 extra was paid: Oct. 1 1920. $1 quar. and $1 ext.
Jan. 1 1921, $1 quar.; April 1921 div. passed.
Notes payable Dec. 31 1920,
$1,497,500.
The stockholders on Oct. 4 1920 ratified the proposal to increase the au¬
thorized Common stock from 100,000 shares (no par value) to 150,000
shares, and authorized the issuance of 7,500 additional shares of 2d Pref.
stock and 4,000 shares of Common stock in part payment for the purchase
of Thos. Potter Sons & Co.. Philadelphia, as outlined fully in V. Ill, p. 1372Purchase money obligations with respect to the acquisition of the capital
stock, &c., of Thos. Potter Sons & Co., Inc.. maturing in equal annual in¬
stallments from 1923 to 1932—outstanding Dec. 31 1920, $2,200,000.
Feb
7 In 1920
c
See
Q—J
J
58
_8
J
«
X%
'211X% Checks
D June 11922
Text
text
1915
Apr 1
&
Mar 1
J Jan
&
Text
Dividends are
1921
1
1931
mailed
Guaranty Tr Co, N Y
50c Columbia Trust Co, N Y
New York
Jan 1 1921
$1
Apr 1 1921 IX
7
Apr 1 1921
\X
See text
Apr 1 '21 $2.50
J
5
A
J July 1 1929
WMhTAmSec" &TrOo~~
M &
N May 11943
5 g
Richmond, Va
14 in '20
Q—M
June 30 '21 3X Checks mailed
7
do
do
Q-M 31 June 30 '21 IX
7
Q——J
Q—J
Q—J
REPORT.—For year 1920 in V. 112, p. 852 showed:
Gross.
Net.
Fed. Tax. Pref. Divs. Com. Divs.
Year—
Bal.,Sur.
$5,215,084 $1,584,024 $126,444
$367,063
$362,000
$728,523
3,666,860
1,104,599
205,000
360,500
$532,555
1918
482,712
$43,871
369,688
69,153
2,635,090
1917
3.109,853
1,392,582
296,561
349.370
240,000
506,651
Fur ther deductions in 1920, $665,267; in 1919, $58,266 in 1918, $47,070.
Pres., Geo. M. Brown; Sec. & Treas., Robt. M. Nelson.
Executive
offices, St. Louis, Mo.—(V. 112, p. 852).
CHANDLER
MOTOR
CAR
CORP.—ORGANIZATION.—Incorp¬
orated in Ohio on Nov. 16 1915 to succeed an Ohio corporation of the same
Capacity 25.000
cars per annum.
Plant andoffice at Cleveland, O.
Stockholders of record Feb. 27 1919 were given the privilege of
subscribing
$1,400,000 8% cum. pref. stock of the Cleveland Automobile Co.
Each holder or 100 shares of Chandler receiving for $100 per share 20 shares
of pref. stock of the Cleveland company with a bonus of four shares of
Cleveland common.
The new company will manufacture a smaller and
lower priced car.
V. 108, p. 786.
to the
outstanding, 280.000
STOCK.—Auth. capital 300,000 shares (no par);
shares.
Company has no bonds or preferred stock.
The stockholders voted Oct. 6 1919 te change the
capitalization from
100,000 shares (par $100) to 300,000 shares, no par value,
210,000 shares
being issued to stockholders in exchange for 70,000 shares of stock
outstanding in proportion of three shares for each one share of existing
stock and 90,000 shares to be held in the treasury in exchange for 30,009
shares $100 par value stock now held.
DIVIDENDS.—In 1916:
from Oct. 2
April (No. 1), 1X%; July, 2X;
July 1917 1% for Red
and in Oct. 6%.
See
An initial dividend on
the new stock of $2 a share was paid Jan. 2 1920.
V 109, p. 2174.
On
April 1 1920 paid $2 50 a share.
V. 110, p. 973.
Paid 33 1-3% in stock
1916to Apr. 1 1919, 3%,making 12% p. a., and in
Cross contributions; in July 1919_paid 4% quar.
"Stock" above.
V. 109, p. 1082; V. 108, p. 2435.
on
June 10 1920.
July 1 1920 to April 1 1921 paid $2.50 quar. on
stock.
increased
v.-
REPORT.—For cal. year 1920 in V. 112, p. 1394,
1920.
...$9,440,327
Gross profit from sales.
Interest earned, &c_
showed:
1918.
1919.
$2,905,373
$6,650,408
174,332
202,731
147,396
Total income
..$9,614,659
Selling, &c., expenses and other charges
$6,853,139
$3,052,769
incl.
CENTRAL STATES ELECTRIC CORP.—ORGANIZATION.—In¬
corporated in Virginia May 28 1912, with power, among other things, to
acquire stocks and securities of public utility corporations.
Owns over 75 %
of the $8,803,200 Cleveland (O.) Electric Illuminating Co. common stock
V. 99, p. 272.
Common stock has been deposited with Edwin M. Bulkley
Anson W. Burchard and Harrison Williams as voting trustees.
Div. on
pref., IX % quar., paid Oct. 1912 to Apr. 1 1921. Div. on common stock
1914, 4%; 1915, Feb., X%\ none since to Apr. 1921.
The 16-year 5% secured gold notes due June 1 1922 ($6,000,000 author¬
ized issue) are subject to call, in whole or part, on any Int. date, on due notice
at 101 and int., and convertible at par Into pref. stock at 105, with the righl
to convert if called for payment prior to maturity.
The $5,963,784 issued are secured by deposit of $6,630,400 (over 75%)
af the outstanding Cleveland El. 111. Co. common stock. V. 94. p. 1451 •
V. 95, p. 50, 1334.
Pres.. F. L. Dame.—(V. 106, p. 399.)
See text
and
Payable
Places Where Interest
1920
1919
quarterly Oct. 1905 to Apr. 1921.
REPORT.—For year 1920 (V. 112, p. 846) showed volume of business,
$66,225,552, against $118,959,634 in 1919 and $94,147,418 in 1918.
Cal.
Total
Gross
Bond
Pref. Divs.
Common
Balance.
Year.
Earnings.
Income.
Interest.
(7% p.a.) Dividends.
Surplus.
ren
$5,451,900
4,543,300
5.963,784
898,230 shs.
8,000,000
82,000 shs.
3,100.000
2,675,000
280,000 shs
1.184,000
3,262,200
1.500.000
1,000,090
name.
DIVIDENDS—'<
161
(
2,071,455
1,200,884
858,151
.....$7,543,204
2,625,000
$5,652,255
1,330,000
$2,194,618
840,000
depreciation.
Net profit
Dividends paid
2,050,522
2,428,251
Federal taxes
635,902
$2,271,733
$718,715
£
Balance,
$2,489,953
surplus
OFFICERS.—Pres., F. C.f Chandler; V.-Pres.,*W. S.UM. Mead, C. A.
Emi8e, John R. Hall; Sec., Isador Grossman; Treas., Sam'l Regar.—(V.
Emise, John R. Hall; Sec., Isador Grossman; Treas., Samuel Regar.—
(V. 112, p. 852, 1147, 1394.)
CHARCOAL
IRON
CO.
OF
AMERICA,
109. p.
DETROIT.—(V.
1985, 2266; V. 110, p. 2078; V. 112, p. 2194.)
THE CHESAPEAKE & POTOMAC TELEPHONE COMPANY.—In*
:orporated under New York laws July 2 1883, succeeding the Nationa
Capital Telephone Co. of Washington, D. G., and tbe Telephone Exchange
Co. of Baltimore. Md.
Stock authorized $15,000,000; outstanding. $13,000.000.
All owned by the New York Telephone Co.
Stations Dec. 31
1920, 87,290 (not including 675 service, &c., stations).
Rates and valua¬
tion. V. Ill, p. 899.
BONDS.—Authorized, $1,500,000; outstanding March 31 1921, II,184,000.
Retired through sinking fund, $304,000.
Redeemable at 103
three weeks' notice.
Sinking fund
2% annually of outstanding bonds.
and interest on any interest date upon
EARNINGS.—For cal. year 1920.
Gross $4,366,556; oper. income,
$465,654; gross income, $605,083; deductions, $102,517; dividends (IX %
only) $195,000; surplus, $307,566.—(V. Ill, p. 899.)
for 3 mos.
THE
CHESAPEAKE
&
TELEPHONE CO. OF VIR."
of the Southern Bel
Stations Dec. 31 1920, 88,732 (not in¬
Stock, $4,247,000, owned by the New York
POTOMAC
GIN I A.—Incorporated in Virginia in 1912 as successor
Telep. & Teleg. Co. of Virginia.
cluding 4,497 service, &c.)
Telephone Co.
Or the bonds ($5,000,000 auth. issue), $3,262,200 outstanding Mar. 3.1
1921, $237,800 retired through the sinking fund and $1,500,000 reserved for
improvements and additions.
Redeemable as a whole, on or after Nov. 1
1918 at 103.
Sinking fund, X of 1 % semi-annually beginning May 1 1914;
Old Dominion Trust Co. of Richmond, trustee,
v. 98, p. 765, 915; V. 100,
1. 558.
For 1920: Gross, $3,978,000; oper. income, $583,524; gross income,
630,701; net income, $4,650.—(V. 103, p. 2344; V. 105, p. 1900; V. 106.
p. 1038.)
CHESEBROUGH MANUFACTURING CO.. CONSOLIDATED.—OR¬
GANIZATION.
AO.—Incorporated in 1880 in New York.
Manufacturers
of "Vaseline"
(petroleum jelly).
Formerly controlled by Standard Oil Co.
at N. J., but segregated in 1911.
See Standard Oil Co. of N. J., VA 85,, p
216. 790; V. 93. p. 1390.
Stock, $500,000; par, $100.
June 10 1916 the
*apitaJ stock was increased from $500,000 to $1,500,000 by a 200% stock
dividend.
V. 102, p. 1720.
,
The stockholders voted Nov. 17 1919 to increase the capital stock from
,
,
$1,500,000, all common, to $2,500,000, by the creation of $1,000.000 7%
f*nra. non-voting pref. stock (par $100) redeem, at 112K after Jan. 1 1925.
$500,000 of this new pref. stock was offered to stockholders of record
Dec. 1 1919 and the remaining $500,000 to (com.) stockholders of record
Feb. 15 1921 at par and dividend to the extent of 33 1-3% of their holdings.
V. 109, p. 170, 1989; V. 112, p. 566, 655.
/LATE DIVIDENDS (%)—
1912-15.
Initial div. of
1921, IX%
Pres..
'16. '17.
'18.
1919.
1920. 1921
15
12
9
12
12
See
5X
2
IX
2
2 text
30, 3X%.
«
new pref. stock paid Mar. 31 1920; to June 30
40 y'rly.
Regular
Extra cash (stock, see above)—
In 1921: Mar. 31, 3X%; June
O.
IX% on
,
,,
x
_
quar.
C. W. McGee; Sec., R. S.rGO; Treas.,
Office, 17 State St., N. Y.—(V. 112, p. 566. 655.)
N. Cammann; V.-P..
Fred'k H. Williams.
INDUSTRIAL
162
Dale
&c., see notes on page 6]
Par
Amount
Rate
When
Value
Outstanding
%
Payable
$100
Chicago Junction Rys 6c Union Stock Yards—Common stock
Preferred (a & d) 6% cumulative
...
- -Mtge A Coil Tr Rj bds g ($10,000,000 5s)
0.xc*Ar
Central Mfg Dist 1st M $10,000,000 gu "A" due $120,000
yearly call 105..
—c*
Central Mfg. Dlst. coll. trust notes red. 101
xxxc*
Railroad issues guaranteed, see text
———
Chicago Pneumatic Tool Co—Stock auth $13,000,000
Chicago Stock Yards Co—Collat tr bonds g red 105...OBx
Chile Copper Co—Stock auth $135.000,000———-----
1900
1920
500 Ac
500 Ac
500 Ac
5
1916
1,000 Ac
1,000
1,000
2,000,000
1919
Heat
100
Ac
V. 100, p. 1261.
In 1907 New York Central RR. interests acquired
46 miles outer belt line of the Chicago Junction Ry., assuming (he
$2,500,000 bonds, and giving $2,500,000 new bonds in payment
v 85
p. 159; V. 86, p. 664.
In Dec. 1920 the N. Y. Central filed formal applica¬
tion with the f. 8. C. Comm. for authority to lease, operate and ultimately
the
purchase the Chic. Jet. Ry. terminal properties at
Manufacturing
Chicago.
V. 112, p. 62.
37i
District of Chicago trustees own about
erected and used by about 150 industrialconcerns.
V. 99, p. 342; V. 100, p. 1261; V. 100,p. 2227.
See bonds below
Chicago Stock Yards Oo. (which see) owns all of the $6,500,000 com. stock
Licensing of all stock yards ordered In June 1918.
V. 106, p. 2652
V. 107. p. 460
DIVIDEN l)S.—On pref., 6% yearly (Q.-J.).
On common 1891. 10%
1892 to Jan. 1 1915, incl.. 8% yearly; 1915 to Oct 1919.9% (2
which factories have been
BONDS.—The
collateral trust
MAN May
A Sav Bk. Chic
'21 2% N.Y.Tr.Co., and Chicago
Old Colony Tr Co, Bost
Apr 25
Oct
Chicago
1923
1
1 1961
Guaranty
May 1 1923
Apr 1 1932
Trust Co, NY
New York
A*
A
D Decl
1922
New York
A
A
Sept 30'20 7M New York
N Y and C incinnati
O Apr 1 1956
D Dec 1 1922
New Y ork
ll
6 g
644.400
2.500,00t)
J
4 g
J Jan
A
N Y
Coin1 bia Trust Co ,
1 1949
Ccmpmy's offioe
4H g MAN Nov 1 1932
secured notes
Ac.
The Central
do
do
Guaranty Trust Co. N Y
1 1940
MAS Mar 1 '22 to *41 First Tr
5 g
2,400,000
1.000 Ac
CHICAGO JUNCTION RAILWAYS Sc UNION STOCK YARDS CO.
—ORGANIZATION.—Incorp. in 1890 in New Jersey, and owns entire
stock (132,000 shares) of Union Stock Yard A Transit Co. and Chic. June
By., incl., about 700 acres of land (with one mile of water front),contain¬
ing warehouses, sheds and pens to accommodate 75,000 cattle, 300,000 hogs,
acres on
Old Colony Tr Oo. Boston
See text
Apr
Payable
are
Power Oonsol
A
1891
1911
Dividends
7 g
x9,311,000
1919
Places Where Interest ens
Maturity
See text
O
A
12,897,600 8 in '20 Q—J 25
A
A
O
6.220,000
fig
95.000,000
15.000,000
7 g
MAN
A
A
O
35.000.000
6 g
4,349,900 See text
25
1913
1917
and
Q—J
Q—J
A
g
Last Dividend
5
2,400,000
850,000
UK)
New prior lien & ref mtge (see text).
Three-year notes red (see text)
xxxc*
Three-year secured notes.....
—
-xxxc*
Cities Service Co—see "Electric Railway Section
Civic Investment Sc Industrial Co—See Montreal Light.
Claflln (H B) Co—See Mercantile Stores Corporation
Clearfield B Coal Corp—1st M Int gu by Bch Or RR g s f Col.xc*
Mortgage $5,000,000 gold auth gu by N Y Cenfc.G.xc*Ar*
Ola bonds on Penn C & C properties, see text
Exclusive of $3,000,000 pledged for 3-year
1,000
1,000
191L
text
6,500.000
6
14 000.000 4 A 5
1,000
1916
Coll trust 7 % cony g bonds auth $15,000,000
G.c*Ar*
Convertible 15-year bonds. Ser A. (see text) call g -Gc*Ar*
Chlno Copper Co.—Stock $4.600,000
Cin das & El Co—1st M $15,000,000 g s rd call 102-Co.c*Ar*
x
$6,500,000 See
1C0
...
[VOL. 112.
BONDS
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations,
STOCKS AND
bonds are secured by pledge of 131.803
Yards A Transit Co., $5,499,100 of the
STOCK.—Of $135,000,000. $40,000,000 is reserved for
plemenfcai mortgage the 1% additional Interest over the original 4% on tnc
$10,000,000 bonds will be a secondary charge on the property.
See V. 70,
p. 1251; V. 72, p. 389; V. 86. p. 604; V. 100. p. 1261.
Central Mfg. Dist. 5s are Issued by J. A. Spoor, Arthur G. Leonard and
Eugene V. R. Thayer, as trustees of the Central Manufacturing District
and are a first mtge. on real estate and property the value of which is esti¬
mated in excess of $12,000,000.
Bonds are guaranteed, prin. & int., bj
endorsement, bv the Oh. June. Rvs. A Union Stock Yards Co.
Minimum
sinking fund 2% of bonds out.
The collateral trust notes of 1920 are se¬
cured by deposit of $850,000 1st mtge. Series "B" 6% bonds due Mar. 1
1921-30, and by deposit of $150,000 Liberty loan bonds and Victory Lib¬
erty loan notes.
vT 110, p. 1852; V. 106, p. 2227; V. 102, p. 888, 978; V.
103, p. 1980, 2157; V. 106, p. 1129; V. 107, p. 698.
Union Stock Yds. &
Trans. 4Hs due Jan. 1 1920 were refunded by an issue of 5Hs due Jan. 1930
Also guarantees principal and Interest of <a) $705,000 Chic. River A Ind
RR. 5s; (b) $2,327,000 Chicago Junction RR. 4s.
See RR. companies.
of Chile Explor¬
ation Co. of N. J. and convertible at option of holder prior to May 1
into stock, par for par, (V. 100, p. 2088, 2169.)
In April 1917 sold $35,000,000 0% convertible, series A bonds,
1923.
(total
auth., $100,000,000) to pay floating debt and pay for further additions, Ac.
These bonds are convertible into stock at any time, $35 of bonds for
$25
rtock (or at lower rate in case of issue of (a) bonds convertible at lower rate;
(b) stock at less than $35 per share!; also callable by company after April 1
1922 at 110 and int.
Of the remaining bonds (a) $15,000,000 is reserved to
retire the $15,000,000 1st 7s which must be paia off May 1 1923 and $50,000,000 for acquisitions, improvements, Ac., under careful restrictions.
The initial $35,000,000 was underwritten.
V. 109, p. 778; V. 104, p. 1047,
1147, 1594, 2013; V. 105, p. 1000; V. 106, p. 1580, 2563; V. 107, p. 1483;
V. 108, p. 1612, 2430.
■
The Chile Exploration Co. guarantees $3,032,000 8% notes of the Copper
Export Association, Inc. V. 112, p. 655.
Production (Lbs.)—
1921.
1920.
Decrease.
Month of March—
6,000,000
9,256,000
3.256,000
Throe months
17,998,000
25,394,000
7,396,000
——
shares of the stock of Union Stock
$5,500,000 stock of Chicago Junction Ry. and $2,500,000 bonds of Indi¬
ana Harbor Belt RR.
Of the bonds, $4,000,000 are 4s and $10,000,000
Issued in 1915 are 5s. both being equally secured, except that under a sup
conversion of bds.
BONDS.—Issue of 1913 secured by entire capital stock
EARNINGS.—For
6
months
ended June
Total income,
30 11920:
$4,-
905,290; depreciation, Ac., $1,673,837; bond interest, $1,573,703; bal., sur.,
$1,657,750.
V. Ill, p. 1755.
REPORT.—Year 1919, in V. Ill, p. 183:
Gross.
Net.
Oth. Inc.
Interest.
Miscel.
Surplus.
1919—$10,359,167 $1,620,211 $368,878 $2,823,043 $1,956.704*$2,290,658
1918.— 20,931,071
8,516,404
437,263 2,422.419
3,091,019
3,440,229
1917
18,908,855
7,157.077
649,294
1,860,526
3,347,435 2,598,411
Cal. Yr.
-
*
Deficit.
pound as compared
Cost of producing copper in 1919 was 13.01 cents per
to 13.30 cents in 1918 and 16.75 cents in 1917.
OFFICERS.—Daniel
Guggenheim, Pres. A. C. Burrage, Murry Gug¬
genheim, E. A. Guggenheim, H. F. Guggenheim, Wm. C. Potter, V.-Ps.;
Leopold Fredrick, Treas.; W. E. Bennett, Sec.—(V. 112, p. 655, 936, 1981.)
CHINO
COPPER CO.—Incorp. in Maine in June 1909.
Owrns prop"
In Feb. 1921 a suit for alleged infringement o1
erties in Grant Co., N. M.
the so-called
was
Agitation Froth patent and Soluble-Frothing Agent patent
brought by the Minerals Separation Co. in the U. S. District Court
District of Maine.
for the
REPORT.—Report for 1920. in V. 112, p. 1147, showed:
1920.
1919.
1918.
1917.
1913.
47 *4
DIVS.—
$10,231,200
9,128,452
$6,237,412
4,744,955
$5,644,627
4,130,862
$7,726,131
6,320,568
Per
Surplus after int., Ac_ $1,102,748
$1,492,456
$1,513,765
$1,405,563
cent
1914.
1915.
50
60
1916.
1917.
*19.
60
'18.
90
1920.
22 H
Inc.
Gross earnings—
Taxes, int. A oper. exp_-
(Pres.), Eugene V. R. Thayer (V.-P.)
Geo. P. Gardner (Vice-Pres.), Guy W. Currier, L. Lothrop Ames, C. B.
H.
DIRECTORS.—F.
Prince
Wiggin, Boston; John A. Spoor, Chicago; Wra. O. Lane, L. F. Loree
Y., M. A. Taylor, Boston.
N. Y. agency, 25 Broad St.
Sec.-Treas.,
Taylor.—(V. 112, p. 1147.)
N.
December 1920 dividend
CHICAGO PNEUMATIC TOOL CO.—ORGANIZATION.—Incorp.
New Jersey on Dec. 28 1901.
Manufactures pneumatic and electric
tools, air compressors, oil engines and rock drills; the commercial truck
dept. was liquidated in 1919.
In 1918 and 1919 the output capacity was
largely increased.
V. 107, p. 1483.
Plants are located at Detroit, Cleve¬
land and Franklin, Pa.
STOCK—The stockholders voted Dec. 5 1919 to inc. the auth. capital
stock
from
$7,500,000
($6,448,800 outstanding) to $13,000,000.
Stock¬
given the privilege or subscribing until
holders of record Dec. 19 1919 were
Jan. 20 1920 to the new stock at par equivalent to their
$12,897,600.
bringing the outstanding amount up to
2266.
LATE DIVS.—
Per cent
J'06. '07. *08. *09. TO.
\ 4
4
0
0
3
'11 to '17.
respective noldlngs,
V. 109, p. 1794.
*18. '19
4 yearly
6
'21.
'20.
8
text
In Jan. 1920 the quarterly dividend was raised to 2%*, April 1920 to
April 1921, paid 2% quar.
BONDS.—Of the issue of 6% First Mtge. bonds dated Oct. 1 1918 there
were
outstanding Oct.
1
1920 $2,672,500
par
value.
These bonds
were
called for payment Oct. 1 1920 at 101 and interest.
Call for redemption was
made in accordance with the trust indenture, and deposit of funds to retire
them was made with the Central Trust Co. of Illinois
trustee.
Notes
payable
as
of Dec. 31 1920. $900,000.
REPORT.—For 1920, In V. 112, p. 1142. showed:
1920.
1919.
1918.
Total income
-$2,346,609
Dep'n A extraord. loss—
794,899
Bond, Ac., interest.278.648
Sinking fund...
—
—
Dividends
Balance, surplus
-.
$2,675,966
$2,155,627
1,279,964
308,667
31,162
(6)386,928
148,906
1.471,699
547,216
168,000
..(8%)938,520(6^)419,172
334,542
69,879
1917.
$1,452,516
111,401
121,725
50,000
257,952
911,438
OFFICERS.—Chairman of Board, John R. McGinley; Pres., Herbert AL. Price, A. E. Goodhue and W. H. Callan; Treas..
Jackson; V.-Ps., J.
J.
L.
Price;
Sec.,
H.
D.
Megary;
Comp.,
J.
U.
Blanchet.
Directors:
Chas. M. Schwab, James H. Ward, Carl J. Schmidtlapp, J. R. McGinlev
W. A. Mitchell, H. A. Jackson, J. L. Price, E. M. Richardson.
N. Y.
office, 6 East 44th St.
—(V. 112,
p.
1142. 1286.)
CHICAGO STOCK YARDS CO.—Incorp. In Sept. 1911 in Maine and
owns all of the $6,500,000 common stock of Chicago Junction Rys. A Union
Stock Yards Oo.—which see above. (V. 93, p. 1193; V. 94, p. 210).
Has
outstanding $8,000,000 common stock in $100 shares (20% owned by
Armour A Co., V. 106, p. 1931), on which 5% has been paid yearly from
Jan. 1914 to July 1 1917, Incl. (2)4% I. A J.), and the collateral trust
bonds
above dercibed
(aiDh., $13,000 000). callable
at
105.
Pres
Fred'k H. Prince, Jr. and Treas., F. R. Pegram, Ames Bldg., Boston.—
(V. 94, p. 210; V. 106, p. 193.)
CHICAGO (BELL)
TELEPHONE CO.—See Illinois Bell Teleph
Co.
CHILDS CO., NEW YORK.—(V. 112. p. 165, 651, 936.)
CHILE COPPER CO.—Incorporated April 16 1913 in Delaware and
owns the entire 10,000 shares of full-paid and non-assessable capital stock
of the Chile Exploration Oo. of N- J.
Said company owns and operates
extensive deposits of low-grade copper ore and a plant for producing elec¬
trolytic copper at or near Chuquicamata, Northern Chile, on a branch of
the Antofagasta A Bolivia Ry.. 163 miles northeast of Port of Antofagasta
mid has Its own standard-gauge railroad connecting the plant with the mine
Altitude of mine, 9.600 ft.; of plant, 9,000 ft.
The plant has a capacity
of 15,000 tons of ore oe^ day.
V. Ill, p. 183.
Securities listed on N. Y. Stock Exchange.
See statement, V.101,p.l893.
198
165
'
omitted.
Notes.—Guarantees $1,464,000 8% notes of Copper Export
V. 112, p. 655.
Production (Lbs.)—
March
Association,
1921.
1920.
3.051,838
4.413,3r9
Three months
9,041,523
10.671,755
Note.—Operations were suspended April 1 1921. V. 112, p. 1350.
M. A.
In
was
■
■
<
REPORT.—For year 1920:
Calendar Years—
1918.
1919.
1920.
Copper produced (lbs.)- 44,051,849
40,488,706
1917.
75,655,641
79,636 235
$7,326,525 $17,089,312 $19,261,306
Net for dividends—*1,319,540
1.301,977
3,967,221
9.512,854
Divs. A cap. distribution
978,727
2,609.940
4,060,011
8,612.802
Pres., C. M. MacNeill, 25 Broad St., N. Y. City.—(V. 112, p. 1402.
1620, 1870, 1981,2194.)
Total income..—-
—
—
-
$7 698 641
CINCINNATI OAS & ELECTRIC CO.—Owns generating stations and
distributing systems supplying gas and electricity to Cincinnati and suburbs.
Operated by Union Gas A Electric Co., a subsidiary of Columbia Gas A
Electric Oo. (which see below) under a 99-year lease dated Sept. 1 1906,
which, as amended, provides for payment of all interest and sinking funr
capital stock, (par $100
la guaranteed by deposit of
charges and dividend of 5% upon the $35,056,300
share).
Performance of lessee
$3,628,125 In cash and securities
increased to $3,750,000. (See V.
Stock Exchange was in full in V.
a
company
with trustees, which is to be gradually
Ill, p. 2232.)
Official report to N. Y.
103, p. 1428.
sold
provide for improvements and the construction of an electrie
generating station with an immediate capacity of 60,000 k. w. (ultimately
140,000), and to refund $1,500,000 Cincinnati Edison Electric Co. bonds
June 1 1917; the balance were available for the company under restrictions.
See V. 104, p. 266, 1901, 1014; V. 105. p. 74, 391, 501, 1524.
The stockholders on Dec. 27 1920 authorized the creation of a new
$50,000,000 40-year Prior Lien A Refunding Mtge. which will be issued from
time to time as authorized by the directors, bearing such interest rates as
they shall determine, for additional capital expenditures and for retiring
the bonds issuable under the present First A Ref. Mtge. of $15,000,000 and
the two note issues aggregating $4,400,000. V. Ill, p. 2232; V. 112, p. 65.
Sale of 30,000 shares of pref. stock of Cincinnati Gas Transportation Oa.
to Columbia Gas A Elec. Co. See V. 110, p. 80.
The 3-year notes of Dec. 1 1919 (both 6% and 7%) are redeemable, all or
part, at 101H on or before Dec. 11920, at 101 on or before Dec. 11921 and
at 100thereafter.
The 6% notes were issued in connection with the
BONDS.. ETC.—Of the $15,000,000 1st M. bonds, $9,459,000 were
In 1916-18 to
Sayment of $2,225,000 6% company'sMar. 15 1920. Irt) mtge. secured bf
eposit of $3,000,000 of the notes due 1st A ref. (now They are 5% bonds.
—V. 110, p. 874,
CITIES
973; V. Ill, p. 496, 2232; V. 112,p. 65.)
FUEL
& POWER CO.—See V. 109. p
CITIES SERVICE CO.. NEW
1701
YORK.—See 4 Elec
1795
Ry.' Section
CLEARFIELD BITUMINOUS COAL CORPORATION.—ORGANIZATION.—Incorp. Oct. 7 1886 in Penn. and owns over 148,000 acres of
coal lands, mineral rights, Ac., in Clearfield, Centre and Indiana counties.
Pa.
Stock. $825,000. all owned by New York Central RR.1
acquired, per plan V. 92. p. 1439, property of the Pennsylvanis
(foreclosed June 23 1911), and under said plan leases te
Coal A Coke Corporation the developed properties,
about 59,000 acres, until the coal is exhausted.
Annual minimum rental
of $225,000. See V. 93, p. 1606; V. 98. p. 391; V. 106, p
2232. Also ses
report, V. 107, p. 800.
BONDS.—The N. Y. Central RR. Oo. guarantees (V. 103
p. 1794)
p. A i., of the 4^3 of 1911 ($5,000,000 auth.), present Issue, $2,500,000
(V. 92. p. 1439: V. 93, p. 164; V. 103, p. 1794.) These bonds are dated 1911
(see V. 103. p. 1794> were a first lien on 22,000 acres of coal and a general
mortgage on 126.000 acres, subject to $0,260,400 closed prior lien bonds,
including those shown in table at head of page, and also the following:
In 1911
Coal A Coke Co.
the
Pennsylvania
Ac.,
see
Date
6]
notes on page
Par
Amount
Rate
When
Last
Dividend
Value
Outstanding
%
Payable
and
Maturity
$100 $18,000,000 8 in 1920
Cluett Peabody & Co. Inc.—Common stock $18,000,000—
Pref (a A d) 7% cumulative J9.000.000
—
Coca-Cola Co (of Del)—Com stock 500,000 shares (v t c)__
Preferred (a A d) stock 7% cum non-voting $10,000,000.
Colorado Fuel & iron—Common stock $44,2iK),uuu aucn
Preferred stock (not as to assets) 8% cum $2,000,000
Oolo Fuel A Iron Gen M $6,000,000 g s f red 105—Ce.c* Ar
Oolo Indus 1st M go d ser A A B guar d A 1 call'105—N.o*
Columbia Gas & Electric Co—Stock $50.000.000
s
f
gold $25,000,000 ($7,587,500
163
BONDS
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations.
First M
STOCKS AND
INDUSTRIAL
Mat, 1921.]
Q—J
8,442,000
100
Text
None
500,000 shs. See text
7
J
A
J
100
10,000,000
3 in 1920
Q—F
luu
34,235,600
Q-J25
2.000,000 8 in 1920
100
1,000
1,000
1904
and
Feb 1 1921 1H Checks mailed
do
do
Apr 1 1921 1%
July 15 1920 $1
1921. 3%
May 25'21
May 25 '21 2% Chase Nat Bank, N Y
Feu
Chase
Nat
1 1943
Bank,
N
Y
Jan 1
100
1907
canceled).Col.xc*
Cei
1913
1st M $5,000,000 8 f call 1911 110
s
Qnlon Lt Ht & Power Oo—See that co on subsequent page.
Uln Gas A El Oo bonds—See that co. above,
1908
Debentures authorized $2,850.000
Where Interest
Dividends are Payable
F
A
A
5 g
5,160,000
F
A
New York Trust Co, N Y
4 Aug 1 1934
5 g
31,936,000
May 16 '21, 1H
Q—F
50,000,000 See text
Columbia Tr Oo. N Y
1 1927
J
A
J Jan
6 g
500 Ac Xl3 843.000
Cent Union Tr Oo, N Y
J
A
J Jfin
5
500 Ac
11927
t2,850,000
Prov SB 4'fr Oo, Olxn
J
A
J July 1 1933
5 S
2,547,000
1,000
1893
Ar
Places
Uin Gas Transp Co
united Fuel Gas On bonds—See text.
x
Including $2,342,000 in treasury,
f Including $233,500 in treasury.
Outstanding. When Due
$2,618,000 Maroh 1941
Penn. C.AC. 1st M. Ser. A. g.l 1902
1,057,000 July 1 1931
red. 105 s. I. 3c. per ton—xj Int. at Commercial Tj . Co., Phlla., trustee
1898
4 A-O
60,000 Oct. 1 1924
Chest. Creek Land A Impt.1
>To be retired $12,000 yearly.
first mortgage
CKx
Bonds
on
Interest.
5 g M-S
5 g J-J
Penn. C. A C. Prop. Date.
Webster C. A C. 1st cons. Mtg.*1902
Beech Creek C. A C. 1st mtg.)
$3,000,000
g.
end. redeem.
guar, p. A i.
($1,000 each)
(V. 80. p. 1364)
xc*
West Branch Goal Oo. 1st M.
($1.000)
5 g J-D
1.818.000 June 1 194'
Int. at Columbia Tr. Co., N. Y., trustee
1904
Sinking fund 3o. per ton; minimum, $75,Q0(
nearly; V. 78, p. 1910: V. 79. p. 1706
196
5 J J
75,000 Jan
1 193i
H. B. Powell. Clearfield, Pa., trustee.
Pres., F. E. Herriman; V.-P., H. S. Vanderbilt; V.-P., John Oarstensen
8ec., D. W. Pardee; Treas., M. S. Barger.
Office, Grand Central Ter
mlnal, N. Y.—(V. 106, p. 2232; V. 107, p. 184.)
CLUETT, PEABODY & CO., INC.—ORGANIZATION.—Incorp. li
York Feb. 4
1913.
Combined factories at Troy. N. Y.;
also
REPORT.—Report for 1920, in V, 112, p. 1393,
Calendar
a
Waterford, N. Y.
Annual production about 12,000,001
dozen shirts.
Y. 96, p. 491.
Canadian Co.,
2454; V. Ill, p. 796, 1373.
bleachery at
dozen collars and 500,000
V. 106. p.
I* STOCK.—Pref. is callable, all or part, in blocks of 10% of Issue, at I2f
and accrued div., also at same price on dissolution or consolidation or dis
tribution of capital.
Beginning Dec. 31 1916, annual sink, fund, 1916 to
1920, 1% of Issue and thereafter 2%, payable out
pref. has no vote for directors unless four quarterly
of surplus profits. Tht
dividends are In default
class of stock
of the original
No mortgage or new pref. without consent of 75% of each
In Dec. 1920 $518,000 pref. stock was unissued, $1,000,000
$10,000,000 has been amortized.
on
common,
1914 and 1915, 4%; 1916, 5% (1M% quar.);
(1^% quar. ; Feb. 1918 to Nov. 1919, 6% p. a. (144% quar.)
Feb. 1920 to Nov. 1920,2% quar.; Feb. 1921, Ui%;May 1921 div. omitted.
Dividend
1917, 6%
REPORT.—For calendar year 1920, in
Total income
Net
income
Bond, Ac., interest
Depreciation, Ac
Federal taxes
Preferred divs.
—_
1918.
1917.
1919
1920.
,816 $21,490,554 $19,250,603
$32,817,628 $32,421,
3,653,142
2,905,725
7,754 ,539
x2,768,927
153,061
279,663
189 877
547,831
222,419
327,315
293, 592
282,804
1,175,000
2,117 941
x
490,000
490,000
488, 950
574,070
(7%)—
Common dividends..(8%) 1,440,000
Deprec. in invent., &c_.
V. 112, p. 648, showed:
(6)1,080,000 (6)1,080,000 (6)1,080,000
2,993,818
—
—
$960,245
$301,164
Balance, surplus...def.$3,069,596
$3,584,179
x Federal taxes included in operating expenses.
President, G. A. Cluett; Vice-Presidents, E. Harold Cluett
Culver; Sec., A. E. Cluett; Treas., A. Gillespie.—(V. 112, p. 165.
and O. A
648,1521.)
DELA.—ORGAN.—Inoorp. In Delaware oi
Sept. 5 1919 as successor of Coca-Cola Co. of Ga. Business started in 1886
Main plant at Atlanta, Ga., also has manufacturing plants at New York
Chicago, Batimore, Dallas, Kansas City, Philadelphia, Los Angeles, New
Orleans, Havana, Cuba, and in Toronto, Montreal and Winnipeg, Canada.
Normal combined mfg. capacity of plants is 30,000,000 gallons per annum.
COCA-COLA
CO.
——
Interest, taxes, &c
Preferred dividends
Div.
on com.
Voting Trustees.—The 500,000 shares of common
stock have been deposited
DIVIDENDS.—Initial div. on com. stock of
paid July 15 1920; none since to May
$1 paid Apr. 2 1920; same
See V. Ill, p. 1755.
1921.
REPORT.—For cal. year 1920, in V. 112, p.
Net sales,
$2,201,992; pref.
$136,018, (1920)
930, showed:
$32,341,429; net income, $4,641,158; loss on inventory,
div., $700,000; com. div., $1,000,000; Fed. taxes (1919),
$300,000; surplus for year, $303,148.
Boykin.—(V. 112,
p.
165, 655, 930, 1028, 1286.)
♦
FUEL & IRON CO.—A Colorado corporation formed
Oct. 21 1892.
Re-chartered Oct. 1912.
V. 93. p. 1728.
In June 1903
Rockefeller-Gould interests assumed control.
V. 76. p. 1410; V. 98, p.
1159.
Annual capacity of finished steel products Is 550,000 tons.
V.
73. p. 561; V. 75. p. 1149; V. 79. p. 736; V. 62. p. 461; V. 105, p. 1211;
V. 108. p. 483.
Industrial plan. V. 109, p. 581.
COLORADO
of 1903 (V. 77. p. 2037, 2282. 2341; V. 79,
the Colorado Industrial Co., whose entire capital stock Is
Under the reorganization plan
p.
736,
1267)
owned, created an Issue of $45,000,000 consol. first mtge. guaranteed
(see below; also full statement In V. 80, p. 1726; V. 83, p. 378).
bonds
1903, then none till
1913,35% account 74% ac¬
1 1914, 4%; then none till
Aug. 1916, when 30% was paid; on Dec. 22 1916 also paid 30%. thus
clearing up all accumulations; 1917, Feb., 4%; May 1917 to May 1921. 8%
DIVIDENDS.—Dividends on pref. in full to Feb.
July 1912. 2)4%: Jan. 1913. 2H%.
Mar. 20
cumulated dividends; July 1 1913, 4%; Jan.
V. 103. p. 63, 2081.
An initial dividend of 3% was declared in July 1917 on the $34,235,500
common stock, payable % of 1% on July and Oct. 25 1917 and Jan. and
April 25 1918; July 1918 to May 1921, H of 1% quar.
V. 105, p. 74.
p. a.
(2% quar.).
($45,000.000'authorized Issue) cover all
supplemental mortgage of 1913. the
Iron Co. and entire Issue of securi¬
ties of subsidiary cos. named, viz., $4,500,000 bonds and $100,000 stock of
Col.A Wyo. Ry.; $3,000,000 Rocky Mtn. Coal A Iron stock and $331,203
stock ana $160,000 notes of Crystal Riv. Ry.
Series "A" (limited to $14,067,000), Series "'B* (limited to $30,932,000). $6,000,000 to retire gen. M.
5s of 1893.
V. 80, p. 1481. 1720; V. 83. p. 381. 377. 326; V. 96. p. 1492.
BONDS.—The Col. Ind. guar. 5s
the property of that company and,by
real estate transferred to the Col. Fuel &
V. 97. p.
53, 630.
Of the total of $37,184,000
Col. Ind. 1st 5s
$5,248,000 were held in treasury
$1,545,171
$2,192,40*
G.
F. Welborn; Sec., Fred Farrar; Troas., S.
DIRECTORS—J. H. McClement, Willard P. Ward, J. F. Welborn,
Fred Farrar, A, L. Boulware, John O, Mitchell, George Berger, S. G.
Pierson, Bertram Cutler, David H. Taylor, Albert A. Reed, Wm.v. Hodges
and M. D.
Thatcher.—(V. 112, p. 375, 474, 1028, 1286, 1393,
COLORADO POWER CO.—(V. 108, p.
COLUMBIA OAS &
1403, 2087.)
383, 881; V. 110, p. 2490.)
ELECTRIC CO.—(See Map.).—Incorporated In
1906, and, in conjunction with the sub-companies
(compare V. 103, p. 1324): (a) The gas business
In Cincinnati and In 25 municipalities In
Hamilton County, Ohio, and
the electric business In Cincinnati and 23 adjoining Ohio municipalities^
(6) the electric-light and power business In 14, the gas business in 10 and the
water
supply business in three communities in the Kentucky district,
opposite Cincinnati; (c) a 66-mile system of electric street railways oper¬
ating exclusively in Covington, Newport and other of said Kentucky
municipalities and connecting the satne with Cincinnati;
(d) a 183-milt
lystem of pipe lines for natural gas, connecting (e) gas lands held by the
company under leases, contracts, agreements, royalties, and the ownership
In fee of 251,000 acres of land In Southwestern West Virginia and Eastern
West Virginia In Sept.
below, controls
named
Kentucky.
Also 51% of the $30,000,000
stock of United Fuel Gas Co. (see
below).
$50,000,000.
Shares $100.
In July 1912 a syndicate with A. B. Leach A Co. at the head purchased a
majority interest.
V. 95, p. 178.
Listed on New York, Cincinnati and
STOCK.—Authorized and outstanding,
.
Pittsburgh Stock Exchanges.
N. Y. Stock Exchange In Sept. 1916.
for United Fuel Gas and Cincinnati Gas A Electric
1414.
See full official statement made to
V. 103, p. 1304.
Also
V. 103. p. 1133,
Co.
of 1% was paid on the $50,000,000
Nov. 1919, 1% quar.; Feb. 15 to Nov. 15
25 paid 1% extra.
Feb. 15 and May 16
DIVIDENDS.—An Initial dividend
stock May 15 1917; Aug. 1917 to
1920 paid 134% quar.
On Jan.
1921,
134%
each.
authorized Issue of $25,000,000 1st M.
been certified and issued. $7,587,500
outstanding $13,843,000 (Including
V. 106, p. 1140; V. 93, p. 1467; V. 101, p. 49.
BONDS.—The company has an
5% bonds, of which $21,430,500 have
retired to Dec. 31 19'20, leaving
were
$2,342,000 in treasury).
For debentures of 1913 see V. 96, p. 1631, 170.
REPORT.—For 1920, in full, in
Consolidated Income Statement
Gross earnings:
V. 112, p. 1169, showed:
(Including Subsidiary Companies).
1920.
1919.
1918.
^
$14,616,743 $11,950,272 $11,538,772
$7,234,133 $5,704,050 $5,579,340
2,673,977
2,309,665
1,965,470
*
Net earnings.
Other income
outstanding
Gross
$9,908,110
Surplus..
-
Dividends paid
For 3 mos. ended Mar
$8,013,715
$7,554,810
4,374,316
694,417
income
Accrued rentals, Ac
Fixed charges C. G. A E. Co
4,050,976
705,339
3,632,262
713.350
$4,839,377
$3,257,400
$3,199,198
(6%)3,000,000 (4)2,000,000 (4) ,000,000
&c , was $1,645,-
31 1921, surplus after charges,
808, against $1,649,381 in 1920
LEADING CONTROLLED
PROPERTIES
CINCINNATI GAS TRANSPORTATION
Chairman, W. C. Bradley; Pres., Ohas. H. Candler; V.-Pres., Wm. P.
Heath, Harrison Jones and B. S. McCash; Sec., William Candler; Treas.,
S. F.
$99,812df$l,764,640
OFFICERS.—Pres., J.
York under a voting trust agreement,
being W. C. Bradley, Chairman Coca-Cola
Co.; E, W. Stetson, V.-Pres. Guaranty Trust Co., N. Y.; Ernest Woodruff.
Pres. Trust Co. of Georgia, Atlanta.
Common stock listed on N. Y
Stock Exchange.
The pref. stock Is callable at par.
V. 109, p. 1082,1795.
'
Year ending
June 30*17.
Pierson
for 5 years, the voting trustees
amount
stock (3%)
Balance, surplus
OF
with the Guaranty Trust Co. of New
1918.
$34,405,218 $48,223,575 $40,004,887
$3,725,055
$8,101,110 $9,019,602
4,692,438
4,302,701
5,369,064
5,040,133
160,000
160,000
(8)160,000 (38)760,000
1,026,994
1,026,993
1,026,875
1,027,065
Total gross earnings—-$51,812,813
Total net income-.
$5,979,244
New
operates factories at Rochester, Schenectady .Nassau and Corinth, N. Y.
Leominster, Mass.; Philadelphia, Pa.; South Norwalk, Conn.; St. Johns,
Sherbrooke and Montreal, Que., Kitchener. Gait and Preston, Ont., and
showed:
Year
1919.
1920.
Dec. 31 1920,
of Colorado Fuel & Iron Co.
CO.—A West Va. corporation,
having capital stock of $3,000,000 5% pref. and $2,000,000 com. stock and
outstanding $2,547,000 5% 1st M. bonds. (V.88, p. 1375.) Owns 183 mild
of steel pipe line, running from the Columbia company's natural gas held
In S. W. West Va., connecting with Covington and Newport, Ky„ Ac.,
and Cincinnati and surrounding towns.
Leased by the Columbia company
for 30 years.
Rental, all maintenance charges, taxes,
Ac., bond Int., sk. fd.
1-3 monthly beginning Aug. 1 1911. and div* on common stock
10% per annum.
The pref. stock (owned by Columbia Gas & Elec. Co.)
is to receive a dividend of 6% per annum after all Trnasportation bonds
have been canceled.
V. 86, p. 1532.
The $3,000,000 pref. stock was
of $20,833
at
purchased by the Col
G. & E. Co. during
1920.
V. 110, p. 80.
COMPANIES.—The Columbia Company owns all of
the $5,000,000 6% pref. and $10,000,000 common stock of Union Gas A Elec.
Oo. of Cincinnati (V. 89, p. 230; V. 103, p. 1046 , which operates under a 99yr. lease the properties, &c.. of Cin. Gas A El. Co. (which *ee). V. 83, p.
274, 892, 1231; V. 88, p. 1375; V. 95, p. 752; V. 97, p. 53, 240.
New steam
electric plant, capacity 60,000 k. w., was completed in June 1918.
V. 106,
p. 2652.
Rates in Cincinnati, V. 105, p. 610, 719, 1000, 1901;
106, p.
2764: V. 107. p. 612; V. 110, p. 1429.
Regarding contract with U S.
Government in Aug. 1918, see above.
As to Cine. Gas A Elec. Co. see separate statement above.
CINCINNATI
V.
KENTUCKY
A Traction Oo.
PROPERTIES.—Cincinnati Newport A Covington
controlled under a 90-year lease.
Light
(See "Electric Railway
Section."
Union Light, Heat
A Pow. Oo. of Covington notes.
See V.106, p.717, 827.
rights on over 850,000 acres (also
about haif of same), located in W. Va. and Ky.
With about
1,500 miles of pipe line, compressors, Ac., supplies gas direct to 40,300 con¬
sumers
in arbout 50 cities,
including Charleston, Huntington, Ravenswood, Clendenln, Spencer, Ripley, W. Va.. Ironton and Portsmouth,
Ohio, and Ashland and Catlettsburg, Ky.
Further sells large auantitiee
of gas to Columbia Gas A Electric Co., Ohio Fuel Supply Co., Louisville
Gas A Electric Co. and Central Kentucky Natural Gas Co. and Ports¬
mouth (O.) Gas Co.
Population served directly about 110,000;by other
UNITED FUEL GAS CO.—Owns gas
oil rights on
INDUSTRIAL
STOCKS AND BONDS
[Vol. 112.
MAT, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
[For abbreviations, Ac.,
see
STOCKS AND BONDS
Date
notes on page 6]
Bonds
Columbia Graphophone Mfg Co.—
Common 3,000.000 shares no par value....
....
Preferred stock 7% cum S15.000.000 call 110
Five-year gold notes red text—————G.xxxc*
Columbia Graphophone Factories Corp. 1st M $5.000,000
due $125,000 yrly 1921 to 1934 call 102 H—MeBaxxxx
Columbus CO) Gas & Fuel Co—See Ohio Cities Gas Co....
Commercial Cable Co— IscMuno deb stk) $20,000.000*.F.o&r
Commonwealth Edison—Stock authorized $60,000,000..
Commonwealth Elec 1st Mf Equally sec by ComiNCxxxc*
Commonwealth Ed 1st Ml Electric mtge of 1898/..
xx
Collateral notes Sep "A" red text...
xxxc*
.
$100
1.000
1920
Payable
$9,883,731
6.000,000
$
&
See text
Q—J
Q—J
100
1.000
100 &c
6
MAN Nor 1 '21 to *34 New York
&
A
7*
$41nl?20
8
None
131,033 shs.
Q—J
J
&
J
6,001,000
A
AO
111.500
6
None
Q—J
103,500 shs. See text
7
100
4,000.000
Q—M
None
190,484 shs. See text
Q—J
500 dec
.III""
.000,000 call 110
1 shares
Consolidated Distributors, I no—Stock 300,000 shares auth
,i
companies using its gas wholly or partly about 1,800,000.
V. 106, p. 1140.
The directors on April 8 1920 yoted to Increase the capital stock from
$10,000,000 to $30,(KK),000, and declared a stock dividend of 200%.
In 1915-16 United Fuel Gas Co. retired all old bonds and made a new
$15,000,000 6% 1st M. under which $14,686,000 (including $4,239,000 held
in
treasury of company) have been issued.
See statement to N. Y. Stock
Exchange in V. 103, p. 1133; V. 104, p. 869; also said company's caption
below and V. 102, p. 816, 1354; V. 10S, p. 711.
W. W. Freeman and H, A. Wallace; Sec. &
Charleston, W. Va.—V. 112,
r
COLUMBIA
p.
Treas., Polk Laffoon.
MFG.
stockholders of record May 3 1920 were offered the right to subscribe
te additional common stock at $27 50 per share to the extent of 20% of
holdings.
Y. 110, P. 1751.
The pref. stock has a sinking fund.
Y. 108,
9. 2024.
'
-
pref. paid 1H% quar. from July 1918 to Apr*
1921.
New common $1 75 quarterly from July 1918 to Jan. 1919.
On
April and July 1 1919 paid $2 50 in cash and 1-20 of a share in common
'tock.
Oct. 1919 to Jan. 1921 (each quarter) paid 25 cents in cash and
1-20 of a share In com. stock, on the com. shares as subdivided as of Aug. 20
1919.
April 1921 dividend omitted,
V. 112, p. 936.
Notes.—The 8% gold notes of 1920 are redeemable, all or part, at
par and interest plus a premium of M% for each 6 months' period by
frhlch the maturity of the notes Is anticipated.
Semi-annual sinking fund
•f $500,000, payable June 1 1922 and on each Dec. 1 and June 1 thereafter
ftp to Dec. 1 1924 incl., is to be used for redemption of notes; if notes are
purchased and canceled other than by sinking fund, the semi-annual pay¬
ment will be proportionately reduced.
No mortgage can be made (other
than purchase mortgages) without securing these notes equally with the
bonds or notes to be issued thereunder.
Each $1,000 note will carry with
it the privilege to purchase at any time after Feb. 1 1921, and on or before
the maturity or redemption date of such note, 3 shares of Common stock
st $35 per share.
In case company shall declare any stock dividends after
veb. 11921, or sell any Common stock at less than $35 per share, the purthase price under the above option shall be reduced proportionately.
7. Ill, p. 496.
new
GUARANTEED BONDS.—In Nov. 1919 the Col. Graph. Factories
Corp. of Md. bad been organized to expend $5,000,000 In the establishment
if new plants at Baltimore and Toronto and made an issue of $5,000,006
1st M. serial 6s due $125,000 serially beginning in 1921.
Of these bonds,
$1,750,000 were sold.
These bonds are a first lien on the proposed new
plants.
Additional bonds may only be issued for 50% of the cost of future
additions and improvements.
Principal and interest guaranteed by an
Irrevocable 25-year lease to the Columbia Graphophone Mfg. Co.. of the
property mortgaged, for an amount sufficient to pay the principal and
interest of these bonds.
V. 109, p. 1894.
Stock option warrants and terms
ft exchange Y. 116, p. 1293. Offering of preferred stock of Factories
Oerp., V. 116. p. 1751.
REPORT,
Calendar
Year—
1920
1919
1918
For 1920, in V. 112, p. 1278, showed!
Net
Bd., Ac., Deprec'n,
——
Earnings.
Interest.
_$5.805,514
7,793.644
1,939,513
$620,560
262,960
603.715
Ac., Bes.
$520,674
514,569
616,336
Dividends.
$2,078,187
2,435,402
611,279
x'After deducting $3,391,313 reserve for Federal taxes,
ing $2,113,006 reserve for Federal taxes.
y
Balance,
Surplus.
y$473,088
xl,188,800
208,182
After deduct¬
OFFICERS.—Chairman, Francis S. Whitten; Pres., Van Horn Ely; VicePres., Wm. M. Johnson; Vice-Pres. & Treas
C. Wm. Woddrop; Vice-Pres.
& Gen. Mgr., H. L. Willson; Sec., C. W. Cox; Asst. Sec. & Asst. Treas.,
F. J. Ames.itN. Y. office, Woolworth Bldg.—(V. 112, p. 165, 936, 1028,
1278, 1286.)
,
COMMERCIAL CABLE CO.—See Maokay Cos. and V. 88.
p.
999.
COMMERCIAL UNION TELEGRAPH CO.—Stock. $500,000, guar. 6%
(J. A J.) by Postal Telegraph Cable Co.; par of shares, $25.
COMMONWEALTH
EDISON
CO.—ORGANIZATION.—Incorpor;
ftted Sept. 171907 as a consolidation, per plan in V. 85, p. 162,724.
Later
is 1913, acquired (by
consolidation) Cosmopolitan Electric Co. Franchise8
•xpire 1947. Controls entire electric lighting 8c power business of Chicago*
serving a population of over 2,800,000.
On March 24 1908 the Chicago
City Council passed an ordinance providing that 3% annually of the gross
receipts during the life of the franchise of the old Commonwealth Electric
Co. be paid to the city, and providing that the franchise be extended to
include all of the subsidiary companies.
In July 1916 reduced primary
rate from 10c. to 9c. fnet) per k. w. hour.
Has seven generating stations and 58 substations, the total capacity,
including storage batteries and purchased energy, being equivalent to 870,000 h. p.
In March was supplying an equivalent of 21,411,000 50-watt
iamps, compared with 12,244,000 as of Dec. 31 1915 and with 4,138.000 as
•f Sept. 361908.
It is also supplying electrical energy amounting to 370.000
h. p. to street and elevated railways and other public service corporations
tnder long-term contracts.
Number of customers on April 1 1921 485,000.
New generating station, Y. 110, p. 1086.
STOCK —The company offered to stockholders of record Oct. 15 1920
the right to subscribe for $5,042,200 new stock, or 10% of their holdings,
at par.
Outstanding Dec. 31 1920, $50,978,000.
DIVIDENDS.Per cent-
Also 10%
pidd io
stk. to holders of roc. Oct. 4 1913.
Columbia
25.1921
Apr 15 '21 $1.75
June 1
*21
1H
See text
CorN~Y
Trust Co, N T
N<^~York"
———
Checks mailed
p.
55, 103; V. 90, p. 40i V, 100, p. 1351, 1440.
A block of $4,000,000 of
these bonds was sold in Feb. 1919.
Y. 108, p. 83.786,969,975.
Midland
Counties Coal Co.. V. 107, p. 1007; V. 104. p. 2238; V. 105. p. 74.
The 5-year 7% collateral gold notes of 1920 are redeemable, all or part,
at 102 and Int. on or before June 1 1924 at 101 and int. after
P.
on
or
June 1 1924,
Y. 110,
before Dec. 1 1924, and thereafter at 100K and int.
2389.
Report for year ending Dec. 31 1920, in V. 112, p. 1281
Dividends
Gross
Net
Balance,
Int.onFd.debt,
Earnings.
Income.
Surplus•
(8%).
$752,801
$2,523,600
$3,955,600
1920——$35,317,134
$7,232,001
1919—— 30,366,426
904,798
7,146,376
2,299,237
3,942,340
1918.
902,647
26,505.136
7,668,021
2,131,550
4.033,824
1917
1.009,725
25,351,685
8.808,627
2,131.550
3,667.352
Office, Chicago,
Pres., Samuel Insull; Sec. 8c Treas., Edward J. Doyle.
III.—(V 112, p. 852,1281.)
Year--
-
COMPUTING-TABULATING-RECORDING CO.—Incorp. In N. Y.
93, p. 48, of International TimeRecording Co., Tabulating Machine Oo. and Computing Scale Co. of
America, Chicago, 111.
See V. 94. p. 1254-5.
Capital stock and surplus
of subsidiary companies not owned Dec. 31 1920, $269,005.
Also owns a majority of the stock of International Business Machines
Co. Ltd., of Toronto, a Canadian merger of Nov. 1917.
V. 106. p. 193.
in 1911 as an amalgamation, per plan In V.
.
> CAPITAL STOCK.—The stockholders voted Mar.
16 1920 to change ths
authorized capital stock from 120,000 shares of $100 par value to 200,000
shares of no par value, and to exchange the present outstanding 104,827
shares of $100 par value for the same number of shares of no par value.
The stockholders of record May 11 1920 were given the right to subscribe
for 26,206 shares of additional stock at $50
per share in the proportion of
one share of new stock for each four shares of stock owned.
DIVIDENDS.—1% paid April. July and Oct. 10 1913.
In 1916 and
Jan. 1918 to Apr.
again In 1917 4% was declared, payable 1% quarterly.
1921 paid $1 quar.
REPORT,—For calendar year 1920, in V, 112, p. 1511, shows:
1918.
1917.
1920.
' 1919.
Net earns,
(sub. cos.)
—
$2,426,657
Interest——..
Dividends ($4 p. a.)....
Federal taxes...
...
,
544,777
497,875
y460,642
Balance, surplus.....
$923,363
x For 1918.
y For 1919.
$2,496,945
370,271
419,224
x666,000
$2,134,337
$1,041,450
$1,368,584
346,531*
419,222
$1,915,747
347,389
418,962
282,963
$866,433
V.-P.), Thomas J.
(Pres.); J. B. Stanchfield, Charles R. Flint, Oscar L. Gubelman,
Hastings, John W. Herbert, Robert L. Houston, Rollin S.
Woodruff, O. D. Smithers, Charles Smith, Geo. I. Wllber, Joseph E.
Rogers, Drury W. Cooper and A. Ward Ford.
J. 8. Ogsbury Is Sec. &
Treas. Office, 50 Broad St., N. Y.—(V. 112, p. 1511,1620.)
DIRECTORS.—Geo. W. Fafrchlld (Chairman and
Watson
Samuel
M.
CONSOLIDATED CAR HEATING CO.—Supplies electric car heaters.
32.
Stock,
Sneumatlc car$1,250,000; outstanding, $1,130,400; par, $100. V. 70, p.
door operators and steam car heating devices.
DIVS./ '04. '05. *06. '07.'08-'09. *10. '11. '12. '13. '14. '15.
Percent!
1916-1920
6
4
3
3
None 3K
6
6K
7
5
2H
None
Pres., Cornell S. Hawley, 413 N. Pearl St., Albany.—(V. 101, p. 2147.)
CONSOLIDATED CIGAR CORP.—ORGANIZATION,—Incorp. May
14 1919 in Delaware and acquired the properties and 27 factories of six
long established concerns, namely (a) Iff. M. Schwarz 8c Co., Inc., New
York; (6) T. J. Dunn 8c Co., New York; (c) Lilies Cigar Co., Detroit, Mich.;
(d) EI Sidelo Cigar and
(e)
Jose Lovera, Tampa Wa.: (/) Samuel I.
Davis, Tampa, Fla.
In Oct.
1919 acquired by purchase the G. J.
Johnson
Cigar Co..
Grand Rapids, Mich.
V. 109, p. 1463.
Plants
(comprising 31 factories in June 1920) at Tampa, Key West, New Orleans,
New York, Philadelphia, Wilmington, Cincinnati, Detroit, Poughkeepsie,
Allentown, Coplay, Harrisburg, Grand Rapids, Traverse City, Manistee
and other cities.
The stockholders
on Sept. 30 1920 ratified and approved
at contract
whereby the company becomes the owner of all the Common stock of 44
Cigar Co., established In 1893 In Phila. and Incorporated in 1905, maker
of the widely advertised brands "44" and "Adlon/'
The company in Dec. 1920 had a production capacity of 50Q,000,000
,
cigars
„
a year.
STOCK.—No mortgage without consent of
stockholders
on
2-3 of Pref. stock.
The
Sept. 30 1920 authorized an increase in the common stock
Annual cumulative sinking fund
from 90,000 shares to 150,000 shares.
of $80,000 beginning June 1 1921 to be
applied for redemption of the pref.
stock at 110.
Also callable as a whole at 110.
In case or failure to pay'3
successive quar. divs., pref. stockholders shall have right to elect a ma J onty
of directors.
There was also outstanding on Dec. 31 1920 $174,300 7%
cum,
pref, stock of "44" Cigar Co., Inc.
DIVIDENDS.—An Initial dividend on pref. at the rate of 7% per annum
for the 3K months ending Aug. 31 (about $2) was paid Sept. 1 1919; Dec.
1919 to June 11921,1H% quar.
Initial div. of $1 50 on commonstock paid
April 15 1920; July 15 1920 to April 15 1921 paid $1 75 quar.
1920 paid 15% in common stock.
REPORT.—For cal. year
On Nov. 1
1920 showed: Gross profits, $3,845,867; net
earnings, $2,173,720; Federal & State taxes, $688,273; prer. divs., $260,491;
com.divs. (cash),$631,125;com.
V. 112, p. 936, 1396.
divs. (stock), $540,000;bal.,sur., $53,831.
OFFICERS.—Chairman of board, W. A. Tucker; Pres., D. Emil Klein;
V.-Pres., D. Emil Klein: Sec .-Treas., Louis Calm.
General office, 81st St.
655, 936, 1148,1396.)
and East End Ave., N.Y. City.—(V. 112, p.
CONSOLIDATED COPPERMINES CO.—(V. 112, p. 1620, 1981.)
CONSOLIDATED DISTRIBUTORS, INC.—Organ. In N. Y„ Sept. 13
1916, as the Times Square Auto Supply Co., Inc.: name changed to present
title in March 1921.
Is engaged in the business of buying ana selling auto¬
mobile
1914-May'21.
8(2% Q—F.
V. 97, p. 447. 889.
1907. 1908. '09.1910. 1911. 1912.1913.
IK
5K
6 6<Q-F) 6H
7
7K
Guaranty Trust
Oct
)
REPORT.
Calendar
CO.—ORGANIZATION.—
Incorporated in Dec. 1917 under laws of Delaware, per plan in V. 105, P
2367, 2458, as successor of the American Graphophone Co., with factories
In Bridgeport, Conn., England and Canada.
Y. 106, p. 1037, 1128, 1463.
Products, Columbia Graphophones and records and dictaphones.
Owns
two manufacturing plants at Bridgeport, Conn.
See V. 108, p. 2024, as
to Col.
Graphs Factories of Bait., also guaranteed bonds below.
CAPITAL 8TOGK.—By plan of reincorporation dated Dec
14 1947
(V. 105, p. 2367)
the new
company
was organized, with $15,000,000
of 7% cum. pref. stock (with
preference also as to assets), par $100: and
150,000 shares of common stock of no par value.
In Sept. 1919 the 150,000
shares by subdivision were increased to 1,500,000, the holders of the latter
oelng entitled to only one vote for each 10 shares.
V. 109, p. 581.
On
Oct. 27 1920 stockholders voted to increase the authorized
capital stock
frem 1,500,000 shares to 3,000,000 shares.
V. Ill, p. 1755.
Common
DIVIDENDS.—On
$1
July 1 1941
Office,
66, 376, 1139, 1169, 1744.)
GRAPHOPHONE
April *21,
BONDS.—Additional Commonwealth 5s of 1908 are Issuable for not ex¬
ceeding 75% of cost of extensions and improvements.
Redeemable at 110
on or after Sept. 11918
V, 79, p. 214: V. 83. p. 326. V. 85. p. 163; V. 88;
and
OFFICERS.—Pres., A. B. Leach; Chairman, P. G. Gossler; V.-Pres.,
Apr 1 *21 IH% Paid by check
Aug 11925
Guaranty Trust Co, NT
F
Jan
4 z
12397
FLAT Co & Office* N Y
Q—J
See text 8 in 1920
Q—F
May 2 1921 2% Checks from co's offlee
5 g
MAS June 1 1943
8,000,000
Illinois Tr A S Bk, OM«
M
A
S June 1 1943
38.631.000
do
do
J
A D June 11925
5,000,000
Chicago
1 000
190*
19li
Hiere Interest and
Dividends are Payable
Places
20,000.000
£
l8§8
1920
text
7
Last Dividend
and Maturity
8g
1,750.000
1897
"
„
When
%
1919
...
ComptitinK-Tabulattasr-RecordingCo—Stk (200,000 As auth)
Sink fd gold JrondsjCexcl $628,600in treas) call at 105
Gz
Bate
None 1,403,671 shs. See
...
■
Amount
Outstanding
Par
Value
165
supplies, accessories, parts, tires, bodies and ail merchandise neces¬
sary or incident to the operation or repairing
motor cycles or motor vehicles of every kind.
City and elsewhere.
or
equipment of automobiles,
Operates stores in New York
*
166
INDUSTRIAL
Date
MISCELLANEOUS COMPANIES
[For abbreviations, &c.,
Bonds
notes on page 6]
see
Y)—Stock (see text)
bonds 125,000,000 red & conv (see text) cx
conv.
One-year gold notes
Bonds
Amount
Bate
When
Outstanding
%
Payable
M-Cel Assumed by 1
■ NT Y
do East River Gas 1st Mi?
Q.c*}
New Amst )
sFlrst cons M (*5.000.000) goid_.CK.o*J
Gas Co.
\
New Amsterdam first oons M gold *20,000,000-Ce.xo*&r
Central Union Gas guar p & IN Y A East Rtver._Ce.xo*
Standard Gas Light 1st M $1,500,000 gold
...
__*c
North Union Gas 1st M *1,500,000 gold not guar. Col.xc*
Westoh Lighting 1st M *10.000 000 g ass (see text) Ea.xo*
N Y & West L Gen M *10.000,030 gold guar red (text).Cex
pebentures *2,500.009 gold guar prln & lnt r< J at 110.x
Nor Westchester LtgOo 1st Oons $1,000,000 call 105..E.C*
Slug Sing Electric Lighting bonds
Peeksklll Leg & RR (controlled co) bonds, see "Elec Ry Sec"
NY* Queens El L * P 1st M $2,500,000 gold
Unx
10-Year debenture gold
NY* Queens Gas Oo 1st * gen M $1,000,000 red 110..xc*
mEquitable Gas Light
1,000
1898
1,000
15,000.000
1899
1.000
20,888.000
1895
1891
2.188,000
1897
1900
1,000
1,000
1,000
1,000
1.000
1,000 &o
1,000
1,000
1,000
1,000
1904
1,000
1904
1905
1.000
(now 1st)
eons
500 *c
-
lEdtson Elec III N Y 1st ooni M *15,000.000 gold..—G.c*
xUnlted Electrlo Light & Power 1st M *5.370.000
-.Un
1894
1895
1898
1897
1890
1900
1921
1004
Capital Stock.—Auth., 300,000 shares;
outstanding, 190,484 shares'
par value.
Dlvs. have been paid as follows: April 1920, 50 cents (cash)
Ser share; 62)5 cents payablecents (cash);due Jan. 27 1922. cents (cash);
Oct. 1920, 62M Stockholders
1921, July 1920, 62^
In 8% scrip
an.
will have
an option to convert the scrip at maturity into stock at $20 per
V 111, p. 2333.
April 1921 dlv. was omitted.
Report.—For calendar years;
1
••••;•
'
1920.
1919.
Net sales
*
$5,456,954
$3,985,154
Gross profits on sales
2,328,456
476,739
share.
•
_
„
2,317,703
90,395
800
105,903
profits
9,952
280,441
Officers.—Pres., Jesse Froehlich; V.-Pres., Hicks Weatherbee; Treas.,
Chester D. Ireland;
Sec., Lossle Minzie.
Office, 1743 Broadway, New
General and administrative expenses
Federal taxes
.
Net
York.—V. 112, p. 1286, 1744, 2087.
Stock holdings Dec. 31 1917, V. 107, p. 600.
165.
p
In 1906
Franchise taxation,
253
reducing the price In N. Y. City to 80 cents
per 1,000 cubic ft., beginning May 1 1906, except In outlying districts
V. 82. p. 572, 807. 931; V. 90
p. 301.
In Jan. 1909 the U. S. Supreme
Court held 80-cent feature of law to be valid until given a fair trial.
In
Jan. 1919 the company brought suit to have the 80-cent rate declared con¬
fiscatory.
Final report declaring the 80-cent rate confiscatory was handed
down by Special Master Abraham S. Gilbert in May 1920.
A temporary
Injunction restraining the authorities from enforcing the 80-cent rate was
handed
Hand
a
law was passed
down
on
decisions
June 29 1920.
on
V.
Federal Judge Learned
Ill,jp. 76.
Aug. 41920 and Judge Julius M. Mayer In April 1921 handed down
upholding In nearly all respects the recommendations of Special
case of the company to the effect that the 80-cent
Master A. 8. Gilbert in the
gas
law
was
V. Ill, p. 592; V. 112, p. 1620.
confiscatory.
The company, acting on a decree signed on Feb. 281921, by Federal Judge
Hand refuting the application of the State and city officials that the court
a definiate rate for the continuation of the supply of gas after March 1,
announced that the rate for gas would be increased from $1.20 to $1.50 per
fix
cu. ft., effective March 1 1921.
Beginning Aug. 1
nounced rates would be reduced to $1 25. V. 112, p. 2194.
1,000
1921 it was an¬
Argument of the company's case has been set for Oct. 10 1921 by the U. 8.
Supreme Oourt.
The case involves the right of the P. S. Commission to
compel an 80-cent rate for 1,000 cu. ft. of gas.
Application for
DIvS.
new gas
standard, V. 105,
p.
1712, 1806.
{%)[ '00. '07-'09. *10. 1911-T4. 1915. March 1916 to June 1921.
5
4 y'ly.
414 6 yearly 6?*
7% y'ly (1)* Q-M15)
STOCK, &c.—In 1914 the authorized Issue was Increased to $125,000,000
to provide for conversion of $25,000,000 debs.
V. 78, p. 1964; V, 98,p.1403.
Application was made in Dec. i919 for authority to issue $25,000,000
additional stock to provide for the conversion of the new issue of 7% bonds,
below.
On Dec. 29 1919 shareholders authorized an Issue of $25,000,000 5-year/
bonds for the purpose of refunding the debentures
maturing Feb. 1 1920.
Stockholders of record Jan. 3 1920 were offered the
right to subscribe to the new bonds on or before Jan. 17 1920, at par, to the
extent of 25% of holdings.
Underwritten by National City Co., N. Y.
V. 109, p. 1720; V. 98, p. 1540, 1463, 1610; Y. 99, p. 1751, 1660. 1676;
V. 100, p. 312, 904.
Bonds are dated Feb. i 192J and secured by pledge of $35,000,000 par
value of New York Edison Oo capital stock.
Kedeemajle as a whole only
and after
Sept. 1 1922 at 102)4 and int. during 1922, at 102 and int.
during 1923 and at 101 and Int. during 1924.
Convertible on and after
Feb. 1 1922 into capital stock, par for par.—(V. 109 p. 2266; V. 110. p. 80.)
The $25,000,003 one-year 8% notes are secured by pledge of $34,000,000
capital stock of the New York Edison Co.
V. Ill, p. 2328.
The company has been authorized to Issue $15,000,000 10-year 7%
debentures. V. 112, p. 1403.
REPORT.—Year ending Dec. 31 1920:
1919.
Calendar Years—
1920.
Sales of gas (1,000 cu. ft.)37.876,872
Sales el.cur. (1,000 k.w.h.) 1,000,476
Operating
income—.def.$4,343,286
Other income
Bal.,
32,988,377
865,388
756,649
df.1,853,759
94,400
1917.
30,778,671
749,828
$2,538,279
1932
£*
J
1 1944
Jan
1 1945
A
Jan
1 1948
J
A
M
A
July 1 1927
May 1930
M
AN Nov
J
£*
£*
£*
5 g
Jan
A
J
g
%
J
£e
£*
5
A
J
I*
F
*
&
Co, N Y
Equitable Trust Co.
Central Un, Tr, Co,
July 1 2004
July 1 1954
June 11955
Feb 1 1920
*
F
Bankers Trust
National Olty Bk, N Y
1 1927
1 1950
D Deo
A
J
Guaranty Trust Co, N Y
National City Bank, N Y
National Olty Bk, N Y
Nat Olty Bank, N Y
.
A
J
tg
5g
Guaranty Trust Co, N v
130 E
15th St; N Y
N *
Central Un. Tr. Co,
N Y,
_
N
Equitable Trust Oo
Ig
N Y
&
A Aug 1 1930
J Jan.
1 1931
Cent Union Tr Oo,
J
F
5g
5g
Y
do
do
&
A Aug 1 1934
Lincoln Tr Co, N Y
Quarterly dividends of 1H % were paid from Feb. 1907 to Dec. 1914, bot
In March 1915 the rate was increased to a 7% basis (1»%
V. 100, p. 1353, 900, 984; V. 92, p. 1377. Electric rates reduced
June 1917.
V. 104, p. 2347, 2645; V. 106, p. 2455.
Rate Increase au¬
thorized.
V. Ill, p. 2235; V. 112, p. 1030, 1289, 1747, 1983.
BONDS.—The first 5s of 1898 (*15,000.000)
an
the company's power
were
secured by a first lien
pledge or vari¬
The 4s of 1899
plant and other property owned and
securities; list see V. 68, p. 773, 824. 1025; V. 76. p.
ous
268.
purchase-money lien on the former Edison Elec. Ilium,
property, subject to bonds of 1890 and 1895 and by a second mtge. lien
on the remaining property. V. 72, p. 939, 1038; V. 81, p. 35.
Real estate
secured by a
we
I
mortgages, $649,512.
.
•
REPORT for year ending Dec. 311919
Operating
Net, after
showed:
Int., Re-
Other
Paid. (7%)
Taxes. Ac. Income, serves. Ac.
$
$
$
$
1920-33,806,849 8,494.043 1,935,961 4,195,705
1919.28,793,272 9,104,192 1,923,351 3,781,400
Cal.
Dividends
Revenues.
Balance.
Surplus.
1,556,871
4,677,428
4,616,178 sur.$2,629,95$
sur.507,508
4,616.178
19)8.25,339,203 7,332,504 1,885,888 4,034,640
—V. 112, P. 1030, 1289, 1747, 1983.
(3)
•
NEW
YORK
MUTUAL GAS LIGHT
CO.
Inoorp. In N. Y. In 1800 under special charter. Stock, $3,409,700, $1 ,886.200held by Oons. Gas Oo. Par $100. Favorable decision, V.95.P.1687.)
/'98. '99. '00. 'Ol-'OS.'OO. '07-'10.'ll. '12.
DIV'S.—
*13-'20.
1921
Since'97 (J. A J.) i 8
7
30
9 y'ly
7
6 y'ly
8
24
9yrly
text
In July 1912 paid extra div. of 14% to bring divs. for 5 years ending Dec.
31 1910 to an average of 9% yearly. V. 95, p. 115. In 1917, 1918, 1919 and
1920 paid 4% in January and 5% in July. In Jan. 1921 paid 3%.
Year—
1920
1919
...
1918
...
Gross Inc.
Net.
Other Inc.
Int.
Dividends.
Balance.
$2,137,964def$491,632 $80,363 $42,134 (8%)$272,776def$726,179
1,854,116
10,054
84,032
26,313 (9%) 306,873def 233,100
1,612,993
36,753 100,005
18,400 (9%) 306,873def 192,235
STANDARD GAS LIGHT OO.
(4)
Organized in 1886.
Owns 202 miles of gas pipes north of 13th St., N. Y.
The Consolidated Gas Co. owns $4,796,200 of the $4,955,700 common and
$4,096,100 of the
$4,293,600 preferred.
1912 to *10.
8
5
0
2
6 y'ly 1H
0
2
4
3 yearly
Pref. %.
8
6
2X 6
6 y'ly 6
6
6
0
6 yearly
In 1917 June, M % on common and 3% on pref.; none since.
DIVS. *98. '99. '00. *01. '02-'05.*06. '07-'09. TO. '11.
Oom.
1917
J*
%.
Cross.
Net.
Interest.
Dividends.
$2,161,934df.$30,810
$84,239
none
2,060,680
106,270
71,861
none
1917
1,912.010
339,186
70,791
165,976
1916
1,823,986
548,919
72,330
407,313
Office, 130 East 15th St.. N. Y.—(V. 94. p. 1630; Y. 100,
Year—-
.
(5>
3
Balance.
def.$115,050
sur. 34,409
sur. 102,419
sur.
69.270
p. 1253.)
ELECTRIC LIGHT & POWER CO.
(of which $1,642,238 pref.). mostly owned.—(V. 80,
UNITED
Stock, $5,299,684
1856; V. 87, p. 1535; V. 98, p. 1529; V. 100, p. 1253; V. 103, p. 1690;
V. Ill, p. 1378, 2237.
(6)
CENTRAL UNION GAS CO.—(Vi 100, p. 1253; V. 107, P. 600.)
(7) NORTHERN UNION GAS CO.—(V. 100
p.
1253; V. 107, P. 600.)
WESTCHESTER LIGHTING CO. (N. Y. & Westchester Light Co.
—Supplies gas and electricity In Westchester County north of New York
City. See V. 71. p. 1023, 1175. The Consoi. Gas Co. owns the *12.500,000
capital stock. See V. 79, p. 160, 217, 504, 1706. In 1909 permission was
obtained to purchase the $804,000 Northern Westchester Lighting Co. stook,
Lighting * RR. common stock and 50% of the
017; V. 89. p. 108, 1480; V. 90, p. 731.
Westchester Lighting $10,000,000 Gen.
Mtg.
bonds, subject to call at par and int. (V. 79. p. 1706,1957), are guaranteed
prin. and int., by the Consolidated Gas Co., as are also the $2,500,000 of
5% debs.
V. 88. p. 1023; V. 92, p. 123, 205: V. 98, p. 389.
The under¬
lying bonds not shown In the table above (Westchester 5s being reserved
all the $500,000 Peeksklll
V. 87.
pref. stock.
BONDS.—N.
Y.
p.
&
retire N. Y. * Suburban 5s) are:
Interest.
Outstanding.
Maturity.
5 g M & Sx a*230.000
Mch. 1 1949
Bonds <V. 81, p. 1609)—
New
York
&
g. guar, p
Suburban Gas 1st M,1
& I, by Am Gas Co
JSubj to call at 105Alnt since Mch 1 '09
Hudson River Gas & Eleo 1st M—_.
5 M As Ns
b250.000
White Plains
5
J&Di
335.000
May 1 1929
June 1 1938
7,141,372
6,695,957
$7,235,772
1,533,372
6,994,793
$9,234,236
1,493.159
6,987.155
(a) V. 68. p. 474: V. 70. p. 844
(b) V. 08. D. 824; V. 70, p. 844.
Earnings for year 1920 gross $6,058,595: net $1,595,661; other income,
$86,227; charges, $1,293,672; bal. sur., $388,216.—(V. Ill, p. 2146.)
def
def$5,691,322 df.2,909,356 df.1,292,393 sur.753,922
(8a) NORTHERN WESTCHESTER (N. Y.) LIGHTING CO.—Or¬
ganization.—Incorporated in New York May 1905 as a consolidation of
companies operating in Ossiuing, Croton, Briarcliff Manor, *c., in West¬
chester County, N/V. (V. 81f p. 268).
The entire capital stock, $804,000.
Vice-Presidents, Wal¬
Controlled Companies,
(1) NEW AMSTERDAM GAS.
Incorporated Nov. 1 1897 and consolidated N. Y, As East River and
Eq
Gas Light per plan V. 66. p. 133.
SECURITIES.—The stock authorized is $13,000,000 of com. stock
$10,000,000 of 5% pref., cumulative.
Par, $100.
The Consolidated Ga
Oo.
owns $12,154,592 com. and $8,991,475 pref. stock.
V. 70. p. 897
948' 1052, 119?, 1252; V. 80. p. 1855, 2224.
1919
Mch
M
1924
7,449,635
Addicks, O. G. M. Thomas and Robert A. Carter; Spc., Henry M.
Brundage; Treasurer, Benjamin Whiteley; Asst. Sec., F. H. Nickerson
and F.
R. Barnitz; Asst. Treas., J. H. N. Armstrong.
Trustees; W.
Rockefeller, Geo. F. Baker, Jas. Stillman, Samuel Sloan, Moses Taylor,
W. R. Addicks, Donald G. Geddes, N. F. Brady, Geo. B. Oortelyou,
J. A. Garver, Jas. N. Jarvie, Walter P. Bliss and Louis M. Greer.
Office,
130 East 15th St., New York.—V. 112, p. 66, 165, 376, 474, 466, 936,
1148, 1286, 1403, 1620. 1744, 2194.
1918
1995
$5,595,876
1,483,436
7,021,796
OFFICERS.—President, George B. Oortelyou;
1920
1949
July
July
inclusive.
to
1918.
31,262,995
ter R.
Cat. Year—
Feb
A
N Y
N Y
7,877,020
(7%)
sur. or
&
A
J
Y
N
Central Un.Tr. Co,
F
J
g
"city"Bank7
Guarantv Trust Co,
$3,533,734
2.2'5,057
7.000,000
^
Total income
Dividends
Nat
1948
quar.).
p.
secured convertible 7 %
on
Dec
1918
Since 1905-.1
described
19
*
1H Office, 130 E 15th St
Years.
CONSOLIDATED GAS CO. OF NEW YORK.-—This company was
organized Nov. 11 1884 as a consolidation .and in 1899-1900secured control
•f all the other gas companies and of all the electric-lighting properties In
Manhattan, N. Y. City.
V. 78, p. 105, 1964; V. 79, p. 105, 629; V. 83, p.
1414; V. 84, p. 219; V. 80, p. 282; V. 92, p. 257; V. 97, p. 240, 301; V. 112,
V. 102
Dividends are Payable
1921
D Dec. 1
5
2,350,000
3,400,000
810.000
1.000
&
iz
5
25,000
1890
J
J
4,838.000
3,500,000
3,500,000
1,500,000
10,635.000
3,500,000
1,195,000
1,250,000
8,510,000
10.000,000
2,500,000
618,000
1,000
no
p.
15 June 15 '21
Feb 1 1925
Q—F
U
8g
25,030,030
25,000,000
1920
Where Interest and
Places
Dividend
and Maturity
$100 100.000,000 7 in 1920 Q—M
1920
_
of Companies Controlled
*N Y Ed-N YG&BLH&PlstM $15,000,000 g.Q.c**r
xPuroh money M *21,000.000 g sub) to call to Feb '02-Ce.o*
Last
Par
Value
Consolidated Gas (N
Secured
[VOL. 112.
STOCKS AND BONDS
Cross.
$4,735,932
4,132,155
3,945.397
(2)
NEW
Net.
Other Inc.
$233,024
575.627
$94,250
92,082
755,265
91,393
YORK
EDISON
Int., Ac. Bal.sur.or def*
$1,631,365 defl.304,091
1,487,203 def
819,493
1,407,535 def. 560,877
COMPANY.
Organized May 1 1901 as a consolidation of the N. Y. Gas * Elec. Light,
Heat & Power Co. and the Edison Elec. Ilium. Co. of N. Y.
Owns large
power plant located on 1st Ave., between 38th and 39th streets. V. 69,
p. 704: V. 68. p. 1025: V. 70, p. 283. 482: V. 80. d. 1915: V. 84. d. 219. Stock
outstanding, $65,945,400, of which $65,692,100 owned by Oonsol. Gas Co.
V. 90, p. 562, 773; Y
91. p. 1516; V. 92, p. 191; V, 97. p. 301, 448, 1404.
Lighting 1st M
is owned by the Westchester Lighting Co.
BONDS.—Authorized
1st consols., $1 000,000;
d. 1486
balance unissued is
re¬
served for additions. &c.—V. 89.
(9) NEW YORK & QUEENS ELECTRIC LIGHT * POWER CO.—
Supplies Borough of Queens outside of Rockaway.
See V. 72, p. 1039.
The Consolidated Gas Oo. owned Dec. 31 1910 $1,044,000 common and
$S19,800 pref. stock; outstanding. $1,250,000 each.
V. 96, p.
1492.
Div
on pref.. 2H%. paid Dec. 1
1904: 1907 to 1911. 5%; 1911. 4H%\
1912 to 1920, 1% Q.-M.
V. 92. p. 1439; V. 100. p. 1253.
REPORT.—For year
Gross,
Year—
1920
1919
1918
—V.
—$3,535,690
2.849,237
2.302.057
100, p. 1253.
1919:
Net.
Interest.
Dividends.
Balance.
$718,558
656,917
579,943
$433,251
307,897
282,274
(4%) $50,000
sur.$235,307
(4%) 50,000
sur.
299,01$
(4%) 50,000
sur,
247,670
(10) NEW YORK * QUEENS GAS CO.—Supplies Flushing, College
Point, Whitestone and Bayslde, N. Y.
Stock. $600,000.
In May 1913
the Consolidated Gas Co. obtained authority to purchase a majority of the
stock and also the remainder at the same price.
V. 96, p. 1493.
For cal.
year 1918, gross, $344,239; net, $23,478; other income, $598; interest, &c.,
155,818; bad. def.,:*21,741.
In 1917, gross, $303,896; bal. sur., $3,499,
Pres., M. Taylor; V.-P. & Mgr., M. H. Spear; Sec., Wm. Raynor; Treas.,
R. A. Carter.
Office, 88 Main St., Flushing, N. Y.—(V. Ill, p. 394, 699,
1858, 2328, 2525.)
CONSOL. QAS CO. OF PITTS.—See "El. Ry. Sec." and V. 108, p.686
MAY, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on page 6]
STOCKS AND BONDS
Date
Par
Amount
Rate
When
Bonds
Cons Gas Elec Lt & Power of Bait—Capital stock
CoBa
General mortgage $15,000,000
gold (V.103, p.2240)CoBa xc*
Convertible gold notes callable sec by 1st ref mtge at 101H
1st Ref Mtge $100,000,000 g Sar A call
(text) s f
Ba
do
Series B call (text) s f
Ba.xxxc*Ar*
7% secured convert notes (closed) call text
MBa.c*
United Electric first oonsol
mtge (closed) gold
MBa.xc*
Oonsol Gas consol let M g (closed)
MeBa.sc1*
Consolidated Gas General (closed) M gold (text)-FBajtc*
Leading Guaranteed Issues—
Baltimore Electric M $7,500,000 g red 110 gu p A 1 s f.xc*
Preferred stock 5% guaranteed
Oonsol Pow Co secured gold notes guar p & 1 call__CoBa_c»
PubSer Big Co 1st M $900,000 g gu d A 1 redl05xc*
.MeBa
Pref stock 6% cum guar $700,000
Value
Outstanding
%
Payable
1905
1916
1919
167
Last Dividend
and
Places
Where Interest en*
Dividends are Payable
Maturity
$100 $14,608,700 8 in 1920
Q—J
Apr 1 1921 2% Checks mailed
1.000 al3,845,000
4 H g r
&
j Feb 14 1935
New York, Bait and Lon
100 Ac
5 g
8,253,100
MA N15 Nov 15 1921
NYTrust;AlexBr'n, Bait
collat
6
5,000,000
5,000,000
4,428,000
7
as
g
m.
mi
'
Feb 1
•»
1920
To"o"&c
1919
600 Ac
1899
1889
1904
1.000
1.000
1,000
3,400.000
0.100,000
4 H g A
1907
1.000
3,943.000
5 g
5
J
J
A
J
6 g
5 g
F
A
'49(SerA)
4 H g MAN
J
&
5 g
J
A
734
S J
A
D Dec
A
F
g
A
1 1945
&
Bk ofM NY.AlexBr'n.Bal
May 1 1929
July 1 1939
O Apr 1 1954
A
D June 1 1947
Alex Brown A
Farm
1917
500
50
Ac
5,000,000
500
dec
900.000
100
700.000
300,000
.
Roland Park Elec & Water Co IstM $400,000
e trim
A t.ic*
1907
Consolidated Textile Corp.—Stock auth. 1,000,000 shares.
8 P convertible deben notes call 102
>4 (see text)
B B & R Knight, Ine—See that
company.
Consolidation Coal—Stock authorized $50.000,000
Me.c*
500 dec
Convert Collat gold bonds $0,500,000 red
Eqxc*Ar*
Cumberland dc Pennsylvania RR—See Railroads
.
1897
1913
1,000
1.00)
500 Ac
The remaining $1,155,000 Is pledged under Baltimore Ele cOo 5s
closing
CONSOLIDATED O AS ELECTRIC LIQHT dc POWER CO. OF BAL
82, p. 1441
an arrangement with the Penna. Water & Power Co.
whereby It con
trols the entire power supply of that
company In Baltimore and vicinit)
excepting a
*
J * ~
T traction company,
—
- V. 84, d
TIMORE.—ORGANIZATION.—Incorp. June 20 1906. V.
Has
»"
*-»WlVAAJUVfl
O
a
027; V §5.
\ J>- 15?L-V. 90. p. 377, 1557; V. 91, p. 468. 947; V. 92. p. 404
1241; V. 112". d. 376.
The Consolidated Gas, Electric Light & Power Co. of Baltimore owns the
entire capital stock of the following companies: Roland Park Electric &
Water Co., Mt. Washington Electric Light & Power
Co., Patapsco Electric
& Mfg. Oo. of Maryland, Patapsco Electric & Mfg. Co. of
Delaware.
Baltimore County Electric Co., Northern Electric Co., The Consolidated
.Power Co. of Baltimore, Maryland Securities Co.
The last-named
company
all the common stock of the Baltimore Electric Co. of Baltimore
City.
All the above companies, with the exception of the Maryland Securities Co
owns
operated under lease by the Consolidated Gas, Electric Light & Power
are
Co. of Baltimore.
has erected a 20-story office building In Bal¬
timore.
The Consolidated Gas, Electric Light & Power Oo. of Baltimore
has leared this building for a period of 25 years.
In 1907 all of the $2,500,000 Baltimore Elec. Oo. common stock was
acquired (through Maryland Securities Oo.), the property being leased for
999 years at a rental providing for Interest on any outstanding 5% bonds
and divs. on the $1,000,000 5% pref. stock. V. 85, p. 1341; V. 80,
p. 112.
In Jan. 1907 purchased the entire stock of the Roland Park Electric A Water
Oo. and guarantees its 1st M. 5% bonds. V. 91, p. 721.
The company's operations extend throughout the City of Baltimore and
Into Baltimore County, Anne Arundel County and Howard
County.
V.
101. p. 215; V. 102, p. 253.
The Maryland P. 8. Commission Nov. 25 1918 authorized an Increase la
the secondary gas rate from 35 to 50 cents per 1,000 cubic feet effective
Dec. 1 1918.
The commission also reduced the B.t.u. standard from 600
550.
On July 1 1920 the Commission further reduced the B. t. u.
standard to 500.
An application for further increase in the secondary
rate is now pending before the Commission.
On April 1 1910 laws were signed repealing
monopoly Acts. V. f 0, p. 979
STOCK.—Capital stock authorized, $30,000,000: reserved for conver¬
sion of remainder of $8,500,000 convertible notes of 1916, $7,502,800.
See
below and V. 103, p 1595; V. 105, p. 1306, 1712.
Notes payable Dec.
31 1920, $2,819,240.
DIVS.—
On
common
11912. 1913.
%]
5
5H
1914.
1915.
63i
1910.
1917.
7
7
7%
1918-1920.
8 yrly.
1921
text
The dividend rate'was increased from 1H to 2% quar. (8% p. a.) with
the April 1917 distribution and so continued till and Inch Apr. 1921.
CONVERTIBLE NOTES.—Auth. Issue $8,500,000: dated Nov. 15 1910,
15 1921.
Convertible at option of holders after Nov. 15 1918 Into
stock at $110 per share.
Also subject to call by the company, all
Northern Trust Co, Phlla
July 111921 2H
text Jan 15
A
A
O Apr 1
Checks
mailed
'21
75c
New York
1923
secured
V.
p.
Trust Co, N Y
A Tr Co,
Trust Co,
& Tr Co,
Trust Co,
Trust Oo,
by $6,000,000 of
$15,000,000 bond issue of the Power Co.
[A
pledged in Mar, 1919 as part security
a
The
notes
are
now
callable
105, p. 501.
As to same company-s 3-year notes of 1918,
1483.
REPORT.—For calendar year 1920:
.
Calendar
Years
1919.
1917-18.
$15,433,458 $12,813,617 $10,619,589
^
Total gross income
Net earnings
$4,981,667
"*
2,506,474
$8,498,809
$4,018,645
2,346,422
226,588
1,162",026 (8) 1,150,864 (7 34 )1079158
*394,000
250,000
300,000
$4,203,905
2,132,535
925,000
725,000
600,000
y$40,379
Common dividends
Reserve for contingencies
Reserve for depreciation,
$4,800,711
2,517,039
1,100,000
Surplus for divs., Ac
Pre?, dividends (6%)...
$36,063
$6,701
$140,675
1,168,643
amortization, Ac
Net
at 101.
V. 107.
!
Years ending June 30—
1916-17.
'
1920,
see
.
,
'
N Y
N Y
N Y
N Y
N Y
0).
further $2,500,000 of the bonds were
for 7% Secured Convertible notes
company
to
F
tr
Bk, Bait
Aug 1 1922
BkrsTr.NY :AlexBr'n,Bal
A
A Aug 1 1940
Merc Tr & Dep Co. Bait
Q—F
May 1 1921 134 Checks mailed
A
A Feb
I 1937
Continental Tr Co, Balte
text See
7
t he issue ($1 5,000.00
Also owns the entire common stock of the Public Service
Building Co., which
F
Sons, Bait
Mereh
40.205,449 6 In 1920
0—J
Apr30'21,lK% Guaranty
A
2,000
J Jan
1 1922
4H g J
U S Mtge
4.525,000
4 H g MAN May 1 1934
Guaranty
4,500,000
J
5 g
A
J July 1 1931
U S Mtge
J
A
D Dec
10.219,000
5 g
1 1950
Guaranty
4,421,500
F
A
A Feb 1 1923
6 St
Equitable
1,000
1,000
1904
See
2.868,000
100
1901
1910
6
5
xl-T 802,911 shs.
...
First mtge $750,000 gold s f redeem each Jan at 105.Usx
Refunding mtge $7,500,000 auth go»d s f red 105 G.xc*Ar
Fairmont Coal 1st M gold sinking fund assumed
G.sc*
1st A Ref M $40,000,000
g auth red 107H 8 f__G.xc*Ar*
a
1925
1.000.000
&
Fidelity Trust Co, Bait
„
1915
Baltimore"""
New York &
Aug 1 1922
surplus
*
For 18 months' period,
x Preferred stock retired April 21917.
y After
deducting $197,453 amortization of Consol. Power Co. note discount.
OFFICERS.—Chairman, J. E. Aldred;Pres., Herbert A. Wagner; V.-Ps .
Chaa. M. Oohn and Chas. E. F. Clarke: Sec., Wm. Schmidt Jr.; Treas..
John L. Bailey.
Office, Lexington Bldg., Baltimore.—(V. 112, p. 370.
1148).
CONSOLIDATED
In
TEXTILE
CORP.—ORGANIZATION.—Incon).
Delaware in
Oct., 1919 to acquire all the properties, assets Ac., of the
O., James N. Williamson A Sons Co.,
Burlington, N. O., owners of the Ossipee and Hopedale mills, and the Ella
Mfg. Col. of Shelby, N. O.
The four mills contain 40,340 spindles and 1,019
looms, together with water-power plants, dye-houses, Ac.
Acquired 90%
of the stock of Lynchburg Cotton Mills Oo. in 1919, and In Jan. 1920 ac¬
Pilot Cotton Mills Co., Raleigh, N.
quired stock control of the Windsor Print Works of North Adams, Mass.
V. 110, p. 1091.
In Sept. 1920 acquired the entire mill properties of B. B,
V. Ill, p. 1284.
See separate statement for that co.
Rights.—55,000 shares of stock (no par value) were offered to stockholders
of record Dec. 15 1919 at $30 .share.
Stockholders of record Nov. 22 1920
were given the right to subscribe on or before Dec. 7 1920 to about 535,274
A R. Knight, Inc.
shares of stock
(no
par
value) at $21 per share in the ratio of two new
shares for each share held.
V.
Ill, p. 1953, 2046.
DIVIDENDS.—An Initial dividend of 75c.
a
share
was
paid in Jan. 1920;
same amount
paid quar. to Jan. 15 1921.
April 1921 div. passed.
Notes.—The 3-year notes of 1920 are convertible at the rate of 22 shares
of com. stock for each $1,000 notes.
Sinking fund $125,000 s. a. to pur¬
due Nov.
chase
common
REPORT.—For cal. year 1920, in V. 112, p. 1864, showed: Profits from
operations (after deducting expenses, Fed. taxes, Ac.), $2,310,794; depre¬
ciation, $238,281; interest, $620,091; dividends, $1,204,366; bal., sur.,
$248,055; total surplus, $334,907. 4
vet
int. date on or after May 15 1919 at 10134 %of par and
int. on 60 days' notice, but if so called may be converted into common stock
up to 30 days prior to date of redemption.
Secured by 1st Ref. Mtge. of
1919 pari passu with the bonds issued thereunder.
V. 108, p. 1167.
The $5,000,000 7% Secured Convertible gold notes, issued in March
1919 (V. 108, p. 1062), are convertible, par for par, at any time, at hold¬
ers' option, into First Refunding Mortgage 6%
Sinking Fund bonds,
due Feb. 1 1949 (if called for redemption convertible up to 30 days before
redemption date), and are subject to call, as a whole, at any time on 60
days' notice at 103 and int. prior to Feb. 1 1920; at 102 and int. on Feb. 1
1920, and prior to Feb. 1 1921; and at 101 and int. on and after Feb. 1 1921.
They are secured by pledge of $6,000,000 mortgage bonds, viz.. $2,500,000
First Mortgage 5% bonds of the Consolidated Power Co, of Baltimore, due
1937, and $3,500,000 First Refunding Mortgage 6% bonds of Consolidated
Gas Elec. Light A Pow. Co. of Baltimore, due Feb. 1 1949.
BONDS, Ac.—As to the $15,000,000 Gen. M. 4>$s. see table and V. 103.
p. 2158; V. 80, p. 1731, 714, 1481; V. 88, p. 233; V. 91, n. 41. 1632; V. 92.
p. 1376, 1502, 1568; V. 93, p. 1791; V. 96. p. 1704; V. 98, p. 239; V. 105.
p.1306.
First Refunding Mortgage of 1919.
or
any part, on any
The
\st
Ref, Mtge. of 1919 will cover all property now owned or here¬
Authorized issue not to exceed $100,000,000; Bankers
N. Y., Trustee.
Initial $3,500,000 pledged to
secure
7%
notes
and with $1,500,000 additional reserved for conversion of said
$5,000,000 7% notes bear 6% interest, and will mature Feb. 1 1949,
but will be redeemable on 60 days' notice, viz. (a). In first 5 years at 11C
and int.; (6) next 5 years at 107 34 and int.; (c) next 15 years at 105 and int.;
(d) last five years before maturity at 102 and int.
Series B pre redeemable,
all or part, at 110 prior to Dec. 1 1930, during next 5 years at 107, during
the next 5 years at 105, during the next 3 years at 10234. and during the
last 2 years before maturity at 101 and int.
V. Ill, p. 2525.
Subsequent
series to bear such interest, mature at such times (not later than Feb. 1
1999), and beredeemable at such prices, as may be fixed.
(V. 108, p. 1062,
1167, 1612, 1824.)
Sufficient of the new bonds will be reserved to retire, par for par. (a)
all underlying securities of the company and of its subsidiaries, and (b)
any convertible 5% notes due Nov. 15 1921 not converted into common
stock prior to maturity. (Said convertible 5% notes are secured pari passu
with bonds issued under this mortgage.)
The remainder authorized will be
Issuable only for 80% of the cost of additions and Improvements.
Annual
sinking fund from Aug. 1 1922 (first payment due Aug. 1 1923) equal to 1%
of the total of these bonds from time to time outstanding, to purchase or
after
Trust
acquired.
Co.,
call them for cancellation.
Of the 50-year Gen. 434s of 1904 of Oonsol. Gas Co., $6,100,000 have been
Issued. Fidelity Trust Co., trustee.
No further bonds can be issued except
to retire the 5s due 1939. V. 78, p. 1964. 2014. 2387; V. 79, p. 1643; V .88
.
_
.
p.
V.
103; V. 90,
p.
99. p. 1050The Baltimore
1173. 1493; V. 91,
p.
41; V. 96. p. 363, 491, 718, 949-
Electric Co.
5s
($7,500,000 authorized [issue closed
Northern Trust Co. of Phila., trustee, are secured by a lien
Gas El. L. & P. Co. gen. 434s.
V. 85, p. 598, 1271. 1340; V. 87, p. 741; V. 108, p. 1166.
The Public Service Building Co. has erected
a
20-story building which
is leased to the Consolidated Co.
for 25 years under an annual charge
sufficient to pay Int. and sink, fund on the bonds, divs. and sink, funds on
the pref. stock, oper. exp., taxes, maintenance. Ac.
There have been
sold $900,000 1st M. &«», $700,000 pref. stock and $439,000 common stock.
See V. 101, p. 1017; V. 103, p. 764.
The entire common stock is owned
by the C. G. E. L. & P. Co. of Baltimore.
The $5,000,000 secured gold notes of The Consolidated Power Co. of
Bait, were issued in Aug. 1917 to provide toward construction amounting
to $6,000,000 consisting of power plant, transmission lines, Ac.
Leased
to Consol. Gas, Elec. Lt. A P. Co. of Bait.
The notes (guaranteed) are
at
on
$3,950,000
the properly and $1,155,000, Consol.
^
,
or
retire notes at not
exceeding 10234 A int. V. 110,
p.
1529.
OFFICERS.—Pres., Frederick K. Rupprecht; Treas., Sherburne Fres¬
Sec., Henry B. Stimson.
Office, 11 Thomas St., New York.—(V. 112,
co tt;
p. 1521, 1864.)
CONSOLIDATION COAL CO., MD—Inc. In Md. 1860.
V. 82, p. 104.
Owns 301,130 acres of land in Maryland, West Virginia, Kentucky and
Pennsylvania.
V. 88, p. 1256, 1375.
Also owns: (1) Entire capital stock
as follows:
$1,500,000 Cumberland A Pennsylvania RR., which see under
"Railroads" above; $4,000,000 Somerset Coal Co.; $650,000 Consolidation
Coastwise Co.; $10,000 Fairmont Coal Co.; $100,000Monongah. Service Co.;
$20,000 Cassv. A Monen. RR. Co.; $5,000 Canal Towage Co.; $5,000
Penmount Coal Mining Co., and $500 Maryland Construction A Contract¬
ing Co.
(2) Majority stocks, viz.: (a) 5,400 shares pref. and 25,900 shares
common
of Northwestern Fuel Co., owning large docks at Washburn,
Green Bay and Superior, and yards at St. Paul and Minneapolis; (6) $1,457,600 of the $2,660,000 capital stock of Metropolitan Coal Co. of Boston.
V. 106, p. 931; V. 103, p. 2431; V. 78, p. 1271; V. 79. p. 502; V. 88, p. 1200;
V. 95, p. 683.
Coal mined In 1920, including subsidiaries, 8,100,437 net tons, and
1,088,844 net tons mined by lessees.
See 56-year record.
V. 110.jp. 1202.
Owns $1,500,000 stock of Cumberland A Penn. RR.
As to alliedjElk Horn
Fuel Co., see that co. below.
Govt, fuel control, V. 105, p. 1949, 1851,
1852; V. 106, p. 2760.
STOCK.—In Jan. 1917 the authorized capital stock was Increased from
$39,190,500 to $45,000,000, and In Mar. 1918 from $45,000,,000 to $50,000.000; a stock dividend of 5% was paid In Feb. 1917 and of 14% In Marco
1918.
V. 106 p. 1233, 1580.
'
Stock to amount of $7,980,000 was Issued In exchange for the $7,000,000
debenture bonds and accrued interest at maturity Feb. 1 1917; the deben¬
tures were held by the Rockefeller Interests and the conversion is understood
to have given them a majority Interest.
V. 104, p. 365, 767, 1804.
,
DIVS.
do
1909.
'lOto'lO
*17.
0
6
6
0 A 2 ex.
2
2
2
——
0 yearly.
0
—
60
--
(%).'O0. *07. '08.
Since 1903
do
extra
,
..
in stock
..
0
5
*18. '19toApr30'21
6
134 quar.
3.
14
(V. 100, p. 1475; V. 91, p. 1514, 1330.
1250; V. 92. p. 464; V. 94. p. 1053, 1059; V. 95. p. 621; V. 96, p. 949. 1705)
had a 1st lien on 194,970 acres of coal lands or rights (Incl. 100.000 acres pur¬
chased Nov. 1910) and a general lien, subject to about $11,000,000 prior
bonds, on the remaining property, about 106,160 acres, and on other
tangible assets, including mining plant, tugs, barges, coal cars, securities,
Ao., aggregating $21,469,075.
Sinking fund, 2o. per ton mined In first
5 years, then 3o. for 15 years, 4o. for 10 years and 5o. for remaining 10
yrs.
Depreciation charge of 2 Ho. per ton, Ac., also charged agst. operation.
Status of $40,000,000 First and Refunding Mortgage Bonds Dec. 31
1^20.
Reserved to retire prior lien bonds (see table at head of page).$10,776.000
Pledged as collateral under 6% convertible secured gold bonds.. 5,804,000
Retired by operation of sinking fund
1.207.000
Geld for future development. Ac., for most part to 75% of cost-. 4,0 )8,000
Held in treas. A by co., $7,926,000, and outstanding, $10,219,000 17,288,000
The $6,500,000 10-yr. 6% gold bonds dated Feb. 1 1913 wwe secured by
leposit of $6,500,000 1st A Ref. 40-yr. bonds, $1,800,000 Northwestern
Fuel Oo. (of Wisconsin) common stock and $500,000 Metropolitan OoalOo.
(of Massachusetts) common stock.
They will be convertible Into common
rtock at $105 per sbare up to Feb. 1 1922 (except that In case of redemption
in whole or part at 105 on Feb. 1 1916 or any Int. day thereafter conver<lon right wul cease 30 days prior to redemption.) The company may at any
time deposit in lieu of the shares named "1st A ref." M. 5% bonds equal to
111 1-9% of the par value of the shares withdrawn, or on any after Feb. 1
BONDS.—"1st A Ref." M. 5%
_
Date
Par
Amount
Bate
When
Last Dividend
Bonds
Value
Outstanding
%
Payable
&c., see notes on page 6]
Continental Can Co—Common stock $15.000,000
Pref stock (a A d) 7% cum $7,500,000 red 125
Continental Candy Corp.—Stock 500,000 shares..
Debenture serial gold notes red 102 H (see text)
xxxG
Continental (Fire) Insurance Co—Stock
Continental Motors Corp—
Common stock, $15,000,000 .......
...
.....—
Pref (a & d) stk 7% cum s f text
Serial notes. A, B. O A D red 101;
xxxc*
(The) Continental Oil Co—Stock $12.000.000
Copper Export Assn, I nc—Sec g notes due yly red (text) Gc*
Copper Range Co—Capital stock $10.000,000
Corn Products Refining.—Common stock $50,000,000- -Preferred (a & d) stock 7% cum $25,000,000
1st M. g sink, fa red 105
xc*
Debentures g $114,000 called yearly par (V 85. p 527)..s
N Y Glucose Co first mtge assumed gold 8 f (see text) —
1920
1920
1,000
1,000
1.000
Co.
Ref.
text
1,000
( Dec. 31
1916 withdraw said shares at 80% of par In cash for use in redeeming thr
bonds at 105%. To Dec. 31 1920 $626,500 had been converted into stock
V. 96. p. 363. 421. 491. 556. 792: V. 98. p. 997.
^
Of Fairmont Coal Co. $6,000,000 1st M. 6s, $1,311,000 had on Dec. 31
1920 been retired by sinking fund and
Ref. Mtge. of 1910.
V. 106,
p.
$189,000 was
pledged under First A
1475.
REPORT.—For 1920, in V. 112, p. 1139, showing:
Gross.
Net.
Int., die.
Fed'l Tax. Dividends.
^
33,965.280
1919. 23.507,556
1918. 26,148,895
1917- 26,113,204
1920.
*
9,664,254
2,750,112
2,388,083
6,149,700
8,507,398
12,792,349
2,962,328
2,727,897
2,790,059
178,094
770,810
1,491,067
Including $1,294,785 other income and
Bal., Sur,
2,411.914*5,997,810
2.411,854
- —
2,410,046
3,121,290
795,56g
2,598,64g
5,389,933
$3,588,879 profit from sale of
capital assets.
,
surplus Dec. 31 1920 (including $33,783,097
tion of coal lands March 1 1913), $97,855,391.
Pres., Clarence W. Watson.
Office, Baltimore, Md.—(V,
Profit and loss
from revalua¬
112, p. 1139.)
MICH.—See "El. By. Sec..
CONTINENTAL CAN CO.—ORGANIZATION.—Incorp. in N. YJan. 17 1913.
Operates 24 mills at Canonsburg, Pa.
V. 95, p. 1610;
V. 96, p. 363; V. 104, p. 555, 2643.
Agreement with Vulcan Detinning
CONSUMERS POWER CO. (OP MAINE),
callable, all or part, at 125 and accrued
dir.. also, beginning In 1915, for annual sink. fa. or 3% of issue, payable
out of surplus profits.
The pref. has no vote for directors unless 4 quarterly
dive, are In default, In which case the election is vested exclusively In the
pref. until all the defaults have been made good. No mtge. or increase
In pref. stock without consent of 75% of each class of stock.
Dividend on
pref. from organization to Apr. 1 1921 ,lncl., 1 X% quar. (7% per annum).
On common Oct. 1 1915 to Jan. 1 1918, lncl., 5% p. a. (1 H% Q.-J.), also
Feb. 21 1918. 35% In com. stock; April 1918 to July 1919, lJi% quar.
Oct. 1919 to Apr. 1921 paid IH% quar.
In June 1917 to provide additional working capital to take care of the
growing business, $2,000,000 (25%) new common stock having been under¬
written, was offered at par to common stockholderc, V. 105. p. 2275;
$10,000,000.
V. 106, p. 90, making the total common
creased the auth. common stock to $15,000,000
In Jan. 1918 In¬
and the outstanding Issue
$13,500,000 through a stock dividend of 35%.
V. 105. p. 2275. 2458.
V. 104, p. 2455.12555: V.S105. p. 392. Of $5,500.000pref.. $1,155,000 was
redeemed to Dec. 31 1920.
REPORT.—Report for year ending Dec. 31 1920 in V. 112, p. 649:
DepreciaFederal
Pref.
Common
Hon.
Taxes.
Divs.
Dividends.
xSurplus.
Net.
$437,721 $210,000 $307,037 (7%)$945,000
$131,583
1920-$2,196,341
664,815
850,000
318,552 (6H) 877,358
1,264,053
1919- 4,139,778
229.226
900,000
327.250 (6%) 809.776
897.017
1918- 3.728.269
Gal.
Year.
after
deducting $165,000.
redemption of pref. stock.
Office, Syracuse, N. Y.—(V, 112, p. 649,
"STOCK.—The stockholders of record Oct. 8 1919 were given the right
stock (no par value) of
14% of their holdings.
to Nov. 13 1919 to 70,000 shares of
Buddy Buds, Inc., at $5 a share to the extent of
to subscribe up
127?).
The debenture serial notes of July 1 1920 ($2,000,000 authorized) become
as follows:
Series "A." $500,000, July 1 1923; Series "B," $500,000,
due
July 1 1924 Series C July 1 1925 Series D 500,000 are
for plant equipment
and
new
The
reserved to be issued
construction, and shall not become due and
$60,000 per annum
earlier than July 1 1925.
Sinking fund,
beginning July 1 1921.
V. Ill, p. 1664.
payable
DIVIDENDS.—An
1
initial dividend of 25 cents per share was paid In
amount was paid in April, July and Oct. 1920.
Jan.
1920.
Jan.
1921 div. omitted.
same
Ac.—of the two factories mentioned above compare as
i
1919.
1918.
1917.
Net sales
$4,808,965
$3,702,323
$2,647,055
Net before Federal taxes
891,287
870,500
216,061
EARNINGS,
follows:
Calendar Years—
Earnings for six months ending June 30 1920:
profit before Fed. taxes, $443,902.
DIRECTORS.—Benjamin
Schneewind
Net sales, $2,205,107; net
(Pres.),
Charles
W.
Stiger,
Chicago; W. A. Millet (V.-P.), Jersey City, N. J.; Allan A. Ryan. J. R.
Coffin (Treas.), Geo. F. Lewis (Sec.), Milo B. Bennett (2d V.-P.), Robt.I.
Barr, Murray D. Welch.
New York office, 37 Wall St.—(V. 112, p.
165, 261, 655.)
CONTINENTAL (FIRE) INSURANCE CO.. N. Y.—Stock listed on
In Jan. 1916 (a) the authorized Issue
increased from $2,000,000 to $10,000,000; (5) the par value of shares
was changed from $100 to $25 each;
(c) $7,000,000 of the new stock paid
for out of surplus, was distributed Jan. 10 as a stock dividend; and (d)
$1,000,000 new stock was offered to stockholders for subscription at par
Cash divs., 1911 to Jan. 1916. 50% per annum; 1916, July, 5%; 1917
Jan. and July, 6%; 1918, Jan., 6%; July, 8%; Jan. 1919 to Jan. 1921, 10%
semi-annually.
Henry Evans, Pres.; Ernest Sturm, Sec. & Treas.
Office,
80 Maiden Lane, N. Y.—(V. 102, p. 156, 611; V. 104, p. 167; V. 106, p.
339; V. 107, p. 2379.)
N. Y. Stock Exchange In Feb. 1916.
was
CONTINENTAL
.
MOTORS CORP.—ORGANIZATION.—Incorp. In
Virginia In Jan. 1917 (see V. 104, p. 259), and took over business and plants
at Detroit and Muskegon, Mich., of Continental Motors Col., makers of
"Continental" gasoline motors.
Common stock authorized, $15,000,000:
par, $10; outstanding, $14,607,250, issued for net assets (exclusive of
special tools, dies, jigs and fixtures, patterns, designs, drawings, patents
and good-will), valued at $7,295,369.
Pref. stock (offered by William P.
Bonbright & Co. and Lee, Higginson A Co.) is callable in 1920 as a whole at
104 A div., increasing 1% yearly to 110 in 1926 and thereafter. Skg. fund
do
IX
New
do
York
and
Chicago
text
Q—M Mar 15 *21 2% Checks mailed
F
&
A Feb 15 *22 to '25
d5,168,000
5g
1920). via.:
a
J
A
1930
J July 1
Y
Farmers' LATr Co. N
$2,763 ,000; b $ 241,000; C$478, 800;
(along
d $1,847,500
equal to 20% of net profits remaining after pref. div. will accumulate unti'
entire Issue can be called. Michigan Securities Comm. in Dec. 1918 removed
Its restriction on dividends upon common stock to 6% per ann., earnings
having been accumulated as ordered.
V. 107, p. 2191; V. 104, p. 954.
Divs. on pref., IX% quar. from April 1917 to Apr. 19211.
on CO™*
stock No. 1, June 15 1917, 1X%; Dec. 5 1917. 2%; Feb. 1918 to Aug. 15
1919, 1H% quar.; Nov. 15 1919 to Aug. 15 1920, 2% quar.
The directors
on Nov. 1 1920 extended the div. payment dates one month from Q.-F., Ac.,
to Q.-M.
On Dec. 15 1920 paid l% ,quar.
Mar. 1921 div. was passed.
Notes.—The $5,000,000 serial gold notes mature as follows: Series "A"
$500,000 April 1 1922: series "B" $750,000 April 1 1923; Series O $750,000
April 1 1924; series D $3,000,000 April 1 1925.
No mtge. while any of these
notes are outstanding.
REPORT.—For year ending Oct. 31 1920. V. 112, p. 467, shows:
1918-19.
1917-18.
1919-20.
Year ending Oct. 31
Net profits, after mfg., maint., Ac.,
exp., incl. deprec. A ord. taxes
($3,567,5041 $5,125,725 $1,939,785
Federal tax reserve
\
J
1,700,000 Not shown
Preferred dividends (7%)
__[ 1,038,553\ (7)206,635 (7)238,282
J (6 H) 944993 (8) 1,162,784
Common dividend (8%)
I
Balance,
$2,528,951
surplus
Total profit and loss
$2,274,097
$538,719
surplus Oct. 31 1920, $6,345,309.
Treas., W. R. Angell; Treas., G.
165, 467, 936.)
Yeoman.—(V. 112, p.
(THE) CONTINENTAL OIL
W.
CO.—ORGANIZATION, Ac.—Incorp. in
of the Iowa company of the same name,
times the amount in new stock.
V. 96,
492,1091,1158.
Formerly controlled by Standard Oil Co. of N. J., but
segregated in 1911.
See Standard Oil Co. of N. J., V. 85, p. 216. 790; V. 93.
p. 1390.
Stockholders voted Sept. 17 1917 to increase the auth. stock from
$3,000,000 to $12,000,000.
VT 105, p. 1212. Stockholders of record.
June 17 1920 were given the right to subscribe to $1,000,000 additional stock
at par in the ratio of one new share for each nine shares held.
V. 110, p.
2389, 2491.
Dividends paid Sept. 1913 to March 1920, 12% (3% Q.-M.).
Paid 200% in stock on April 30 1920.
June 1920 to Mar. 1921 paid 2%
quar.
Report for 1920, in V. 112, p. 1738. showed net earnings after
Fed. taxes and deprec. of $2,487,025.
Pres., E. T. Wilson; Treas., G. F.
Smith.
Office, Denver, Colo.—(V. 112, p. 1148, 1738.)
April 1913 as successor
each share of stock receiving ten
Colorado
p.
COPPER
EXPORT ASSOCIATION, INC.—Organ, as a Del. corp *
and qualified under the Webb Export Trade Act to engage in
export trade.
Is the exclusive medium for export sales of
in Dec. 1918,
the
copper
copper by companies which in the
total copper production of the U.S.
aggregate represent about 75%
of the
Secured Gold Notes mature as follows:
$6,000,000 1-year notes, Feb. 15 1922; $10,000,000 2-year notes, Feb. 15
1923; $12,000,000 3-year notes, Feb. 15 1924; $12,000,000 4-vear notes,
Feb. 15 1925.
Red., all or part at par plus a premium of 1 % for each year
or portion of year between the date of redemption and respective maturity
BONDS.—The $40,000,000 8%
Security.—Company has purchased to
CANDY CORP.—ORGANIZATION.—Incorp.
In
New York May 27 1919 and In June 1919 purchased the two factories of
the Novelty Candy Co., a subsidiary of the Corn Products Refining Co.,
one located In Jersey City and one in Chicago.
For full statement to the
N. Y. Stock Exchange see V. 109, p. 687.
Judge John C. Knox in the U. S. District Court Feb. 9 1921 appointed
Edwin A. Potter Jr., New York, and Benajmin Schneewind (President of the
company), Chicago, receivers. This action followed the filing of an in¬
voluntary petition in bankruptcy by Rosenberg, Ball & Marvin, attorneys
for Guaranty Trust Co., Chase National Bank, New York, and First
National Bank. Chicago.
Compare V. 112, p. 655.
109. p.
1% By check
dates.
1981.)
""CONTINENTAL
—(V.
15 Apr 15 1921
O See text
>
to
Shown
A
Pres., R. W. Judson; Sec. A Asst.
STOCK.—The preferred Is
x
'20
Dec 15
J
i
Sept 15 *20 2% Boston
9,859,075 See text
See text
49,784.000 6 In 1920
7
Apr 15 '21 IX Title Guar A Tr Co, N T
Q—J
24.826,933
do
do
MAN May 1 1934
a4,781,000
5g
do
do
A
N Nov 1 1931
5 g
b506,000
Title Guar A Tr Co.Bklyn
A
S Sept 1 1926
6 g
C636.160
See that company.
Co.
July 1'23.'24,'25 Clew York
Jan 5
*21 10% Central Union Trust Oe
&
A
8 g
„
25
1910
J
text J
8g
7 g
40,000,000
100
100
See
text
9.904,800 See
100
1909
1906
1902
«
See
5,000,000
1,000
1921
See
an*
Dividends are Payable
Apr 1 '21 1 H% Checks mailed
do
Apr 1 '21 1 H%
Oct, 201920 25c
7 In 1920
7 in 1920
14,607.250 See text
7
2.151,700
10
100
A 1 (V 94. p. 127)....-...-'
bed Including amounts held by Corn Products
$2,649,000 held by National Starch Co Itself.)
•
with
$100 $13,500,000
100
4,345,000
500,000 sh.
1.500,000
1,000
25
10.000,000
None
Guaranteed Debentures—
Nat Starch Co debs g guar p
Places Where Interest
and Maturity
MISCELLANEOUS COMPANIES
[For abbreviations,
[VOL. 112.
STOCKS AND BONDS
INDUSTRIAL
168
resell in foreign markets 400,000,-
the producing copper companies named
trustee as security for these $40,000,000
notes receipts of refining companies for all of the said copper with the
exception of not exceeding 3 X % for which the Calumet A Hecla Mining Co.
will Issue its own receipts.
>
The trust agreement provides that the Association will not create or
issue any other notes, debentures, bonds or other funded ooligations, and
will not make or issue any note or obligation of any other character except
in the ordinary course of business and payable in not more than 12 months.
It will withdraw copper pledged under the trust agreement to the extent
of at least l-3d of all deliveries made against its export sales of copper
from and after the date of the trust agreement.
Copper may be withdrawn under the trust agreement only upon payment
to the trustee of 12He. (in cash or notes) per lb- of copper withdrawn: all
cash so received by the trustee shall be held by it as security for the notes
until applied to the payment, purchase (at not exceeding par) or redemption
of notes and coupons.
Any premiums paid upon redemption of note are
to be provided by the Association from other funds.
000 lbs. of refined copper from
below and will pledge with the
Proportional Guaranty of Companies.—Payment to the trustee for the
required for due and punctual pay¬
principal and interest of these notes will be guaranteed by the fol¬
lowing copper-producing companies in their several proportions under a
contract between §uch companies and Copper Export Assn., Inc., A trustee:
Proportion Principal Sums.—Phelps, Dodge Corp., $4,360,000; Amer.
Smelt. A Refin. Co., $2,000,000; Cal. A Hecla Min. Co., $2,400,000;
Utah Copper Co., $3,280,000; Chile Explor. Co., $3,032,000: Kennecott
Copper Corp., $2,024,000; Braden Copper Mines Co., $2,380,000; Ray
Consol. Copper Co., $1,600,000; Chino Copper Co., $1,464,000; Nevada
Consol. Copper Co., $1,780,000; United Verde Copper Co., $2,000,000;
Anaconda Copper Min. Co., $4,904,000; Inspiration Consol. Copper Co.,
$3,380,000;
Greene-Cananea Copper
Co., $1,852,000:
New Cornelia
Copper Co., $1,628,000; North Butte Mining Co., $700,000; Utah Consol.
Copper Co., $136,000; to be allotted, $1,080,000; total, $40,000,000.
benefit of the noteholders of the sums
ment of
—(V. 112, p. 655.)
COPPER RANGE CO.—ORGANIZATION.—Incorp. in Mich. Jan. 2«See V. 105, p. 610; V. 101, p. 925.
Has extensive land holding*
rights in Lake Superior district, Mich.
Owns the stock of
Trimountain and Atlantic mining companies and Copper Range RR. (see
"Railroads"), 99.69%, 97% and 100%, respectively, and 50% of Champion
Copper Co.
Dividends.—Since Aug. 1915: 1915, 12%; 1916, 40%
1917, 40% (10%
1899.
and mineral
Q.-M.); 1918, 24%; 1919. March 15 $1: June 1919 to Sept. 1920.
(2%) quar.
Dec. 1920 dividend omitted.
V. Ill, p. 2046.
REPORT.—Report for cal. year 1920:
1920.
1919.
50 cts.
1Q17
1Q1Q
45,043*301
Copper produced (lbs.)_
23,756,267
23,082,498
37,498*197
Total
$4,232,764
def.4,838
$6,358,678
972,653
$9,481,563 $13,097,933
2,895,615
4.966,825
revenue
Net for dividends
„•
Dividends
(6%)591,625
paid
(10)986,015(24)2366,394(40)3943:913
Pres., William A. Paine: Sec. A Treas., F. W. Paine.
Office, 82 Devon¬
St., Boston.—-fV. 112, p. 2087.)
CORN PRODUCTS REFINING CO.—ORGANIZATION.—Incorp
Feb. 6 1906 per plan V. 82, p. 103, 1321; Y. 85. p. 527; V. 86. p. 1412; V.
shire
87, p. 42; V. 96, p. 996; V. 90, p. 845.
Plants at Argo and Pekin, 111.,
Edgewater, N. J., and Oswego, N. Y. (Nat. Starch Co.).
V. 105, p. 501;
V. 84, p. 696; V. 87, p. 938; V. 88, p. 628, 1623; V. 90, p. 845; V. 92, p.
465. 883; V. 98, p. 915.
New plant to be built at North.Kansas City.
V.
Ill, p. 796.
Purchase of plants in Europe, V. 112, p.
261.
MAT, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
[For abbreviations, dec., see notes on page 6]
STOCKS
Par
Amount
Rate
When
Last
Value
Outstanding
%
Payable
Dividend
and
Maturity
Text
Q—F
Q—M
None 811.365 sh
$7,000,000---.-.
1917
1916
(Was) Cramp & Sons Ship & Engine Bids Co—See text
1.000
In June 1916 the U. S. District Court In N. Y. held
the company to have
violated the Sherman Anti-Trust Law, and on March 31
1919 a final decree
filed, to which the company assented, ordering the dissolution of the
was
merger not later than
Jan.
1 1921.
The company must dispose of its
plants at Granite City, 111.; Davenport, Iowa; its interest in the stock and
other securities of the National Starch
Co., with its plant at Oswego, N. Y.,
and the stock and securities of the
Novelty Candy Co., which has
plants at
Chicago. 111., and Jersey City, N. J., to a person or persons, including cor¬
porations, not controlled by or affiliated with the Corn Products Refining
Co. and the company, or affiliated
corporations, shall not have any officers
directors in common with such
purchaser, nor shall any defendant be
or
Only persons
or
corporations intending to continue the
business shall be eligible as purchasers.
Accordingly in
May 1919 the Novelty Candy plants were sold to the
(V. 109, p. 687).
In Sept. 1919 also the Granite
sold for $4,500,000 to the Best-Clymer Mfg. Co. of St. Louis
and is now owned by the Temtor Corn & Fruit
Products Co., though it con¬
tinued
to be
operated by the Corn Products Refining Co. for one year
under a lease ending Oct. 1 1920.
The Davenport, la., plant was sola to
Continental Candy Go.
City plant
was
the American Cotton Oil Co. in Dec.
that company on Dec. 22 1920 at
1919, for ^250,000 and was resold by
public auction for $155,000.
See V. 109,
p. 1277, 1463, 1702, 2267; V. 112, p. 66.
The decree leaves the company with
plants at Argo and Pekin, 111., and
Edge water, N. J., and also its foreign business which before the war
amounted to 25% of its total business.
The sale of the plants involved in
the decree will not be followed by a
reorganization or readjustment of the
capital of the parent corporation.
Instead of this, the proceeds of the sev¬
eral sales will be used to pay off the funded
debt resting on these plants.
V. 103, p. 13, 63. 1689, 1891, 2345; V.
105, p. 501; V. 106, p. 90; V. 108.
p. 1392, 1723.)
CAPITAL
STOCK.—The stockholders in March 1921 voted to cancel
$5,000,000 pref. stock which was purchased by the company
during 1920.
The retirement of this pref. stock
brings down the total amount of
pref
See annual report in V. 112, p. 1020, 936'
PREF.DIVS.—'07. '08-T1. 1912. *13. *14. *15. *16.
1917.
1918-1920^
Regular (%)—
7
4 yrly. abt.6
5
5
5
5
7
7
Extra (%)
1 yrly
19.16
outstanding to about $25,000,000.
-
Common
dividends—see
below.
With the regular 1H% quarterly the pref. shares in
1917 received in
Jan., April and July each 5% and in Oct. 4 1-6%, extinguishing all
accumulations.
V. 104. p. 1147, 2555; V. 105,
p. 392.
Initial quarterly
div. of 1 % and H % extra on common paid Jan. 20 1920.
Y. 109, p. 2442;
Y. 110, p. 264.
Same amount paid quar. to Apr. 20 1921.
BONDS.—Of the N. Y. Gluoose 6s, 4% of eaoh bond
($40) Is retlrablf
Sept. 1 yearly beginning 1902, but they are not sub. to call. V. 74.
p. 1086
The 1st 25-year 5s of 1909 ($10,000,000 auth. issue) are secured
by a flrsi
lien
$3,595,040
7,049,000
571,000
$6
•
purchaser.
169
Date
f bonds $20,000,000 A A B text
Cosden A Co (old) 1st M convertible s f bonds
such
BONDS
Bonds
Cosden and Co—Common stock 1,400,000 shares
auth_.
Pref stock 7% cumulative convertible
Convertible
AND
all the property of the company and Its subsidiaries now owned
hereafter acquired, subject only to N. Y. Glucose 1st 6s.
Annual
on
or
sinking
fund of 2% of total at any time issued
may be used to draw bonds at 105
and int.
Of the bonds issued $2,763,000 had on Dec. 31
1920 been acquired
by the company by purchase or exchange.
As to other bonds retired
(largely 1917-18), see foot-note to table at head of page and V. 106, p. 1034
V. 88, p. 1064, 1256, 1439; V. 90, p. 845, 846; V.
93, p. 348; V. 105, p. 1423*
7
6 g
6 g
May 2*21 62
June 1 *21 1
J July 1 1932
O Oct 1 1926
A
A
A
Places
x
LATEST EARNINGS.
1921.
income
$1,746,135
Total
Interest and depreciation
Preferred divs.
463,804
434,472
497,840
248,920
(15*%)-
Com. divs. quar. (1%).
do April 20 extra (H%)
1920.
i
1919.
$5,742,433
637,914
521,972
497,840
248,920
$3,912,843
870,814
521,972
-
Surplus
""$101,099 $3,835,786 $1,920,328 $2,820,058
Net earnings from operations after
deducting charges for maintenance
and repairs and estimated amount of Federal
taxes, &c.
V. 112, p. 1620.
x
REPORT.—For cal. year 1920, in V.
1920
Profits from operations_$18,586,032
Int. on dep., loans, &c__
1,304,710
Int. & divs. on securities
544,169
Rents real est. not in op_
112,
p.
936, 1020, showed:
1919
1918.
1917
$22,015,414 $24,282,303 $16,852,793
523,561
920,935
1,258
262
215,844
828,205
2,602
219,958
314,472
1,837
Total income
$20,436,169
Interest on bonded debt.
$131,682
General taxes
Insurance
Preferred
dividends
Dividend
rate
Common dividends
Depreciation
Inc. & war exc. prof. tax.
Special & extraord. losses
$23,460,172 $25,328,954 $17,389,061
$158,204
$201,187
$225,803
249,475
370,354
195,997
131,363
247,018
249,401
202,470
132,758
1,749,582
2,087,890
2,087,885
6,313.361
(7%)
(7%)
(7%)
(2 1-6%)
2,987,040
74o,760
2,636,514
2,407,843
2,594,899
2,050,676
4,580,000
6,500,000
13,000,000
3,500,000
121,854
56,885
482,000
Baltimore, Md
do
Balance, surplus
$12,703,165 $10,882,836
National
Starch
$6,564,516
$5,035,099
Co.—Results for
Calendar Years.
DepreBalance,
Years—
Profits. Income. Interest. Taxes,&c. ciation.
Sur. or Def
1920
def.$330,454 $10,661 $153,519 $202,912 $250,252 def.$926,477
1919
739,494
11,297
159,208
361,253
250,315 sur, 178,014
Net
Other
Bond
Insur. &
——
1918
The
948,293
National
Starch
13,938
Co,
197,652
318,465
250,304
sur.
195,810
has
outstanding in the hands of the public
only $16,200 pref. and $99,300 common stock, the balance being owned by
the Corn Products Refining Co.
Of Its $5,168,000 debenture 5s (guaran¬
teed), only $661,500 on Dec. 31 1920 were in hands of public.
On that
date the company itself held $2,649,000 the issue for
redemption while
the Corn Products Refining Co. held $1,847,500.
DIRECTORS.—E. T. Bedford (Pres.), W. J. Matheson
(V.-P.), E. B
Walden (V.-Pres.), G. M. Moffett (V.-P.), F. T. Fisher
(Sec.-Treaa.)
C. H. Kelsey, O. M. Warner, ,G. S. Mahana (V.-Pres.), T. P.
Kingsford,
W. H. Nichols Jr., A. A. Smith, A. B. Boardman, F. H.
Hall, Willis D.
Wood.—(V. 112,
p.
66. 261, 655, 936, 1020, 1286, 1403, 1620, 1745.)
COSDEN AND CO.—ORGANIZATION.—Incorporated in Delaware
July 9 1917 as a consolidation (V. 104, p. 2018, 2455, 2007).
Properties
(a) Operates 868 producing wells in Oklahoma, Kansas and Texas and
controls over 300,000 acres in Kansas. Oklahoma, Texas,
&c., including
10,000 acres in Cushing District; (&) pipe line system, about 30O miles in
do
present out¬
standing Common stock of the par value of $5 each for one share of
stock
of no par value.
The authorized capital stock has been
changed as follows:
$7,000,000 pref., par $5; $2,344,400 com., par $5; 1,400,000 shares
of
no
par
value.
com.
Outstanding: Pref., $3,595,040: com. ($5 par), none; com.
Compare (for voting right, &c.), V. 110, p. 767,
(no par), 811,365 shares.
468.
DIVIDENDS.—In Sept. 1917 an extra dividend of
4% was declared
on the common stock in addition to the
Initial quarterly 2%,
payable Nov. 1.
On Feb. 1 1918, in view of
extraordinary conditions due to cold weather and
railroad congestion the common dividend of
5% was paid in common stock
in lieu of cash and this was repeated In
May; Aug. 1918. 2H % was paid is
to
$18,011,398.
Nov.
stock, increasing the outstanding stock
1918 to Aug. 1919, 2H% each paid quar.; Nov.
common
1 1919 and Feb. 1 1920
paid 2H% cash and 2H% in com. stock.
See "Capital Stock" above.
On new (no par value) common stock
paid 62)^ cents a share quarterly
from May 1920 to May 1921.
BONDS.—Convertible sinking fund gold bonds (V. 105,
1000). total
p.
auth., $20,000,000.
Both A and B bonds are now alike as to
security,
conversion and all other rights. Prior to
July 1 1919 their conversion rights
were different.
The rate of conversion for both series in
Feb. 1920 was
one $5 share of com.
stock, but subject
agreed basis when and as the amount of
outstanding com. stock is increased.
Annual sinking fund equal to
5% of
bonds issued, or 20% of net earnings whichever is
larger.
On April 1 1921
$7,049,000 of these bonds were outstanding, excluding $3,682,500 in
sinking
fund.
V. 107, p. 1097; V. 105, p.
$12 55 face amount of bonds for
to change from time to
time
on
822; V. 104,
REPORT.—Consolidated income account
1706.
p.
for 1920
Calendar Years—
Income from refining, producing, &c
on bonds
(subsidiary companies)
Miscellaneous income
Profit on sale of securities
(V. 112,
p. 1620,
1920.
1,013,673
991,454
458,042
^
Total income
$59,671,503 $36,609,537
45,478,620
28,596,125
Operating
expenses, taxes, interest, &c
Federal taxes (estimated)
Dividends
1863)
1919.
$57,629,700 $34,136,150
1,028,130
1,023,891
Interest
640,775
paid
2,230,359
2,539,080
$11,321,748
Balance, surplus
$5,474,332
OFFICERS.—Pres., J. S. Cosden; V.-Presidents, A. W.
Gieske, Jacob
France and E. R. Perry; Sec., E. M.
Rouzer; Treas., Charles Klein.
Offices, 120 Broadway, New York, Tulsa, Okla., and
Maryland Casualty
Tower, Baltimore. Md.—(V. 112, p. 1620, 1863,
1981, 2087.)
(WM.) CRAMP & SONS' SHIP & ENQINE BUILDING
CO.—Incorp.
in Penn. March 26 1872.
Properties owned, V. 78, p. 46; V 90, p. 916.
In June 1915 a large interest was
acquired by New York and other parties.
V. 100, p. 2013; V. 101, p. 50; V.
102, p. 156.
In Nov. 1917 purchased for
some $1,500,000 the
5H-acre plant of the De La Vergne Machine Co.
V. 105, p. 2001.
Has also acquired over 95% of the stock of the
Federal'
Steel Foundry Co. of Chester, Pa.
In July 1919 American
Ship & Com¬
merce
Corp. (see above) acquired a majority of the stock, issuing in
place
of each $100 share
acquired five shares of its own stock, with no par value.
V.
109, p. 572, 479.
STOCK.—Stock (as increased
July 1920), $20,000,000; issued, $19,000,000, of which $15,245,000 outstanding in hands of
public and $3,755,000
held by trustee on Dec. 31
1920; par of shares, $100.
Majority has been
deposited with voting trustees, viz.: E. T. Stotesbury and Levi
L. Rue.
Phihu,
and^Geo. F. Baker, N. Y. V. 76,
The stockholders voted
$6,250,000 to $20,000,000.
(
p. 921, 975, 1087; V. 101,
p. 290;
July
1 1920 to increase the capital stock from
Part of the increase was distributed as a
150%
gtock dividend on Sept. 10 1920.
LATEST
Calendar
Payable
length, connecting the producing area with the
refineries; (c) 2,053 tank cars;.
(d) modern refinery at Tulsa, Okla., said to have a
consuming capacity of
30,000 bbls. daily if
producing all by-products, 75,000 bbls. daily if "skim¬
ming" only the gasoline, kerosene and fuel oil; this
refinery is carried on the 1
books at $14,000,000.
V. 109, p. 680; V. 105, p. 822; V.
107, p. 2292.
CAPITAL STOCK.—It was announced in Oct.
1919 that in addition to *
the usual dividend the future
policy of the company would be to declare '
extra dividends in stock from time to time from
tne surplus
earnings.
For *
this purpose the board of directors recommended
to the stockholders an in¬
crease in the auth. com. stock from
$25,000,000 to $35,000,000.
V. 109,
p. 1277, 1182, 1699.
The pref. stock is redeemable at $6
per share (all or"
part), preferred as to assets and convertible at option of holder
into com.
at $15, par amount, of pref. stock for
one share of common stock
(par'
value $5.)
The shareholders voted Feb. 141920 to authorize
an issue of stock without'
any nominal or par value In lieu of certain of the
present outstanding an<y
authorized Common stock, and to
exchange five shares of the
1918.
$3,020,389
578,089
521,972
are
Central Union Tr Co N T
Equitable Tr Co, Bait
-
Results for Quarters ended March 31.
Where Interest ttni
Dividends
V. Ill,
p. 76, 497.
'98. '99.
*00. '01. '02. '03-T6.
1917.
'18. '19.
'20-'21.
DIVS --%\ 1H 5
5
5
3H None Aug., 3%
6
7H
text
In May 1917 resumed
dividends, 3% being paid Aug. 1; Feb. 1918 to
Aug. 1919, 3% s.-a.
In Oct. 1919 and Jan., April and
July 1920 paid
1 %%>
Paid 150% in stock on Sept. 10 1920.
On Oct. 15 1920 to April 20
1921 paid 1% quar.
Funded Debt as of Dec. 31 1920.
20-year 5% serial notes of 1903, due $170,000 s.-a. Jan. 1
1921 to
July 1 1923, but callable at 102^.
Secured by deposit of
Oonsol. Mtge. 5% bonds
1st Mtge. 5% gold bonds of
1899, due Mar. 1 1929, but call¬
able $25,000 yearly at 110; interest M. A
8
Oonsol. Mtge.
serial
notes
bonds, $7,500,000; isued in exchange for 20-year
975,000
1,022,000
Real estate mortgage and ground rents
880,444
,
REPORT.—For years end. Dec. 31:
1920.
earnings, after insur., taxes, &c___$3,261,794
Net
1919.
1918.
954,178
173,062
surplus
$2,958,286
654,100
199,624
$2,455,399
380,001
$2,134,554
Depreciation
Total interest charges
Balance,
$309,000
$2,104,562
$1,807,405
276,993
OFFICERS.—Pres., J. Harry Mull; V.-P., H. B. Taylor; Sec. A
Treas.,
C. T. Taylor; Asst. Sec., R. L.
Howe; Asst. Treas., O. R. Peterson; Comp.»
Geo. D. Martin.—(V. 112,
p.
748, 853, 1870, 1975, 1981.)
Date
Par
Amount
Rate
When
Last
Dividend
Bonds
Value
Outstanding
%
Payable
and
die., see notes on page 6]
\
'
1911
(see text)-
Cuba Cane Sugar Corp—Com stk no par value
Pref stock 7% cum convert red 120 $50.000,000
Ten-year Debenture bonds convertible tetc
Cuban-American Sugar Co—Common stock-.
Preferred (a A d) stock 7% cumulative
1921
1910
1.000
7.921.600
5 g
J
1918
100 Ac
7,000,000
7 g
J A
CRESCENT PIPE LINE CO.—ORGANIZATION, Ac.—Incorporated
1891.
Has pipe line from Greggs, Pa., to Marcus Hook,
Pa., 209 miles.
Formerly controlled by Standard Oil Oo. of N. J., but
segregated in 1911.
See Standard Oil Co., V. 85, p. 210, 790; V.,93, p.
1390.
Stock, $3,000,000; par, $50.
Dividends, 3% quar.. Mar. 1912 to
Mar. 1914, incl.; June 1914, 2y%%V Sept., 2%; Dec. 1914 to June 1921,
In Pennsylvania In
Net
180,000
180,000
180,000
J917.
$^>7,129
180,000
Dividends
_def$33,898
def$18,583
sur$7,446
def$12,871
(6%)
Balance
—(V.
66, 748, 852.)
112, p.
1918.
*187,446
1919.
$161,417
1920.
$146,102
Years—
income
■
.
CREX CARPET CO.—(V. Ill, p.
,
899, 1182, 1475.)
AMERICA.—ORGANIZATION.—Incor¬
V. 71, p. 32; V. 73, p. 842; V. 84. p. 573;
owned and controlled, Pittsburgh, Pa..
Syracuse, N. Y., Auburn, N. Y., Harrison, N. J., Jersey City, N. J., Mid¬
land, Pa., McKees Rocks, Pa., &c.
V. 109. p. 1789. In years 1916-1/
a large part of the exceptionally heavy earnings were applied to additions
and improvements (new open hearth steel plant, Ac.), to render the com¬
pany impregnable against competition, domestic and foreign, $30,000,000
■of surplus income having been appropriated for and invested in additions to
property and working capital,
v. 103, p. 1790; V. 105, p. 1895; V. 107, p.
CRUCIBLE STEEL CO. OF
porated In N. J. on July 21 1900.
Fourteen of plants
V. 101. P. 290.
1832.
During the fiscal year ended Aug. 31 1920 a new blast furnace, by¬
product coke ovens, extensions and improvements to plants, &c., were
completed, at an expenditure during the year of $9,300,000.
The Pittsburgh Crucible Steel Co., all of whose stock is owned by the
Crucible Steel Co. of America, purchased the property of Midland Steel Co.
(V. 83, p. 41), owning a plant at Midland, Pa., also 501 acres of land, and
sold|$7,500,000 1st M. 5% bonds, guar. p. A i. by Crucible Steel Co.,
maturing $250,000 annually beginning 1916.
V. 92, p. 525, 728; V. 95, p.
1272; V. 99, p. 1449; V. 101, p. 1551; V. 105, p. 189^
Halcomb Steel Oo. of Syracuse (controlled by stock) 2d M. 5s of 1911
V' 103, P# 20825 V* 104' P* 2346:
^uar^p. *y^>58®® Yo/2, P8ii28,
Interest ($45,000 yearly) on Norwalk Steel 4Hs of 1910,
due July 1 1929, having the option to purchase the same before maturity
at 80 and int. (V. 95, p. 424); also prin. and int. of bonds of the St. Clair
Steel and St. Clair Furnace Oo. jointly with U. S. Steel Corporation.
'Guarantees
CAPITAL STOCK.—The stockholders voted Feb. 16 1920 to increase
the authorised limit of common stock from $25,000,000 to $75,000,000, with
a view to stock distributions to represent accumulated surplus when and
as the directors shall deem such distributions conservative.
Pref. stock
will remain $25,000,000.
V. 110, p. 767.
With the payment of the
14 2-7% stock div. on Aug. 31 1920
Increased to $50,000,000.
V. Ill, p.
LATE DIV. *09.
On pref>.%
*10.
6H
7
11-T3. '14.
7 yrly. 3X
the outstanding common stock was
392.
*15.
l'A
On Com
..
--
—-
'10.
7
0
Onacc'ns.% lln 1910 M * lOscj
—
—
# In cal. year 1917 paid the regular 7%
and also ISH % of accumulated dividends,
In July 1919 an initial div. of lH7o was
In Oct. 1919 and Jan. 1920 paid 3%.
V.
'17.
7
18H
*18.19.
7
7
—
--
*20*21.
7 See
text
See
—
—
—
4
text
(lJi Q-M) on the pref. shares
clearing ail accumulations.
i
paid on the common stock, and
109. p. 1182; V. 108, p. 2632.
paid 3% in cash and 50% in common stock.
On July 31
cash and 16 2-3% in common stock.
On Aug. 31 1920
paid 14 2-7% in common stock,
v. Ill, p. 392. Oct. 30 1920 to Apr. 30
1921 paid 2% quar. in cash.
REPORT.—For year ending Aug. 31 1820, V. 111.P. 1945, showed:
Fiscal Year.
Profits.
Depr.,&c.
Interest.
Pref. Divs.
BaL.Sur.
1919-20...$17,274,489 $3,775,291 $312,333 (7%)$1,750,000 $11,436,865
1918-19... 14,093,005
4.171,489
347,308 (7%) 1,750,000 7,824,208
1917-18... 19,939,226
5,759,000
368,098 (7%) 1,750,000 12,062,128
1916-17... 16,161,237
3,375,000
503,879 (30 K >7,562,500
4,719,858
Pres., John A. Mathews; V.-Pres., Gilbert M. Black, F. B. Hufnagel,
•and J. M. McOomb; Sec., W. J. Joralemon; Treas., H. F. Kress.—(V. 112,
p. 474.1744.)
CUBA CANE SUGAR CORP.—(See Map.)—ORGANIZATION.—In¬
corporated in Dec. 1915 in N. Y.
A consolidation of 17 sugar [plantations.
V. 103, p. 64; V. 102, p. 1628.
In July 1916 acquired Stewart Sugar Co.
of Cuba.
V. 102, p. 2344; V. 103, p. 64, 496.
During 1920 the company
purchased Central Violeta, in Camaguey Province, Cuba.
V. 110, p. 2196,
2052.
Other acquisitions during 1920, V. Ill, p. 2052.
Crops made by
the company: No. of bags (7 bags equal one ton of2,240 lbs.), viz.: 1915-16,
3.174.168; 1916-17, 3,201.621; 1917-18, 3.613,325; 1918-19, 4,319.189;
On April 30 1920
1920 paid 2% In
1919-20, 3,703,915.
STOCK.—Authorized, $50,000,000 7% cum. conv. pref. (par $100), and
500,000 shares reserved for conversion
of pref. stock and 416.667 reserved for conv. of 7% Deb. bonds; see below),
no par.
Pref. is redeemable at 120 and int. and is preferred as to assets and
dividends.
Convertible into common share for share at any time at option
1,416,667 shares common (including
of holder.
V. 103, p. 64, 1794.
BONDS,
Ac.—The
$25,000,000 10-year 7% debentures (offered in
convertible at any time into common stock at
Jan. 1920 at 100 & int.) are
$60 per share.
Redeemable on 60 days' notice at 107during the first 5
vears, 105 during the sixth year, 104 during the seventh year, 103 during the
eighth year, 102 during the ninth vear, and 101 thereafter.
No mortgage
may be created while anv of these debentures are outstanding except pur-,
chase money mortgages.
V. 109, p. 2174; V. 110, p. 363.
'
DIVIDENDS.—On pref. April 1916 to Apr. 11921,7% p. a.
REPORT.—For year ending Sept. 30 1920 in V.
1919-20.
i
—$22,249,020
Deduct—Depreciation reserve—... $3,500,000
Operatingprofit
Interest and
exchange._
(incl. income and
and war excess profits taxes)
Reserve for doubtful accounts
Preferred dividends (7%)---------
2,156,584
(lj*%qu..)
Ill,p. 1855 , 2039:
19i8-19.
1917-18.
$11,069,881
$7,390,604
$1,750,000
679,654
979,490
400,000
3,500,000
834,525
$1,750,000
555,810
Reserve for taxes
4,248,302
3,500,000
3.500,666
$3,884,581
$626,424
30 1920, $23,473,102.
OFFICERS.—Albert Strauss, Chairman Bd. Dir.; Manuel Rionda.
Chairman Exec. Com.; W. E. Ogilvie, Pres.jRegino Truffin, Frederick
Strauss. Alfred Jaretzki and B. Braga Rionda, Vice-Presidents; H. F.
Sec. and Treas.
N. Y. office?123 Front St.—(V. 112, p. 376.)
Balance,
Total
surplus
profit and loss surplus, Sept.
$8,844,134
CUBAN-AMERICAN
Payable
Checks mailed
Trust
do
Union
A
J
D Dec
Guaranty Trust Ca, N T
129~Front St",~N~Y*
SUGAR
15
dr
do
Nat City Bank, N Y
Boston
1 1940
15 July
Co, Pittsb
do
Union Trust Co, Pittsbg
8=?
—
are
•••:.
'
June 15 '21 1*4
Q—M
$3,000,000 6 in 1920
Text
100
Q—J
Apr 30 '21 2%
50,000,000
7
June 30 *21 1%
100
Q—M
25,000,000
MAS Mar1922 to 1946
6.000,000
5;,v
"None 500,000 shs
7
100
50.000.000
Apr "1 1921 \H
Jan 1 1930
7
100 Ac 25,000,000
See text
10
10.000,000 See text
7
100
7.893,800
July 1 1921 \H
M A 815 Mar 15 1931
8 g
500 Ac
10.000,000
?"/
1920
Gc*
-----
First mtge coll sf gold bonds red 107*4 $10,000,000
c*
Cudahy Pack Co-lstM$ 12,000,000s f calll02*4—~-C*Ar*x
Sinking fund gold notes $10,000,000 call 101Alnt.IC.xxxc*
*^7alendar
Dividends
$50
Crescent Pipe Line Co—Stock $3,000.000
—
Crucible Steel Co—Common stock autnorized $75,000,000-Preferred (a A d) 7% cumulative $25,000,000 authorized.Pitts Cruc Steel Co 1st M $250,000 yriy begin 1916.UPLxc*
Where Interest and
Places
Maturity
MISCELLANEOUS COMPANIES
[For abbreviations'
[VOL. 112.
STOCKS AND BONDS
INDUSTRIAL
170
i/mc&go
Boston A Chicago
N Y,
1923
&
CO.—ORGANIZATION.—Incorporated
Sept. 19 1906 In New Jersey and controls and operates, through its suboompanles, eight sugar plantations in Cuba and two sugar refineries, one in
Cuba
and
one
in Louisiana.
Annual capacity of Cuban plantations.
Compare V. 89. p. 719: v. 90. p. 916.
fm '10. '11-14.
'15. '10. '17. '18. '19.
1920
700,000 tons of sugar.
DIVS.—
On
pref
On
%{1H 8% 7 y'ly
common
14
mm
..
\mm
Com extra
__
7
7
10
10
10
7
10
1921.
See
7
7
10
See
10
text
text
40
Com stock
April 1,2*4% each; in May 1920 two divs. of $1.75
share were declared on the new $10 par value stock, payable July 1
Sept. 30 1920.
V. 110, p. 2196.
In 1921: Jan. 3, $1; April 1, $1;
July 1, 50c.
CAPITAL STOCK.—The stockholders on April 15 1920 authorized a
change of capitalization from 100,000 shares, par $100, to 1,000,000 shares
par $10. • The common stock outstanding was exchanged for the com¬
mon stock of the new par on the basis of 10 shares of new for each one
share of old common stock.
Holders of common stock will have one vote
for each ten shares held, holders of less than ten shares to have no vote.
—V. 110, p. 1418, 973.
BONDS.—Th8 1st mtge. collateral 8% s. f. gold bonds are secured by
In 1920: Jan. 1 and
per
and
deposit of (a) $13,000,000 (entire outstanding issues) First Mtge. 6%
bonds, all due Oct. 1 1929, of the following subsidiaries: $3,500,000 Chaparra
Sugar Co., $2,900,000 Chaparra RR., $3,500,000 San Manuel Sugar Co.,
$1,000,000 Tinguaro Sugar Co., $500,000 Mercedita Sugar Co., $300,000
the
Refining Co. (refining), $900,000 Cuban Sugar Refining Co.
(plantation), $400,000 Unidad Sugar Co., and (6) $3,000,000 Colonial Su¬
Co. 1st Mtge. 5s, due April 1 1952—total, $16,000,000.
As a sinking
fund company will set aside quarterly the sum of $250,000, geginning with
the quarter ending June 15 1921, which shall be used to purchase bonds in
the market up to 105 and int. if obtainable; any unexpended balance to be
credited upon the next quarterly sinking fund installment.
V. 112, p. 1028.
Cuban Sugar
gars
REPORT.—For year ending Sept. 30 1920 In V. Ill, p. 2516, 2531:
1919-20.
1918-19.
1917-18.
1916-17.
—..$92,744,415 $50,767,165 $40,089,316 $40,345,554
$22,282,659 $13,045,236 $10,249,273 $10,821,960
8,500,000
4,000,000 i
3,506,000
2,500,000
Gross income
Net
income
Reserve for Fed. taxes..
Depreciation, &c
1,096,797
999,022
Interest, discount, &c_.
568,670
954,918
Sinking fund, Ac
Preferred divs. (7%)._.
552.566
552.566
Common (cash) divs..(40)4,000,000(10) 1000,000
1
$5,538,731
Balance, surplus..... $7,564,625
909,794
762,030
665,930
637,926
552,566
(10)999,950(20)1999,137
897,047
811,357
552,566
$2,578,559
Production in 1919-20,1,600,797 bags, against 1,965,641 bags
$3,704,370
in 1918-19.
OFFICERS.—Pres., R. B. Hawley; 1st V.-P. A Treas., J. H. Post;
Sec., Walter Vreeland.
Office, 129 Front St., N. Y.—(V. 112, p. 1028,
1148,1287,1620.)
(THE)
CUDAHY
PACKING
CO.—ORGAN.—Began business In
enlarged, was sold on Oct. 15.
1887 in South Omaha, and, as subsequently
1915 to present company, organized in Maine. History, V. 107, p. 294, 607.
In
Oct 1920 had 8 main plants (In Omaha, Kansas City, Sioux City.
Wichita, Salt Lake,
Memphis. East Chicago and Los Angeles) and over 100
branch houses, with slaughtering, curing and preparing
capacity for 15,000
hogs, 4,000 cattle and 10,000 sheep per day.
Reappraisal in 1918, V. 107.
p. 2191.
Reply to report of Federal Trade Commission in July 1918,
V. 107, p. 184.
The "Big Five" packers, in Dec. 1919 agreed to the entering of a decree
in the Government suit requiring them within two years to give up their
stockyards and other outside interests (except their
poultry and cheese, which is left for
to confine
handling of aggs, butter,
future consideration) and in general
their operations to the wholesale meat business.
2360.
Justice Stafford in the District of Columbia Supreme
See V. 109, p.
Court in Jan. 1921
approved the plans submitted by the company for the disposal of its interests in the Wichita Union Stock Yards.
Under the plan the Cudahy in¬
terests were to dispose of 2,500 shares of stock within three months and 4,100
shares within a year.
The Department of Justice consented to the decree
approving the plan.
See V. llf, p. 2142; V. 112, p. 159,165, 376,474.
DIVIDENDS ON COMMON STOCK!.—In 1910. Nov., 1 H% cash and
50% in stock; March 1917 to July 5 1920, 1H% qnar. (cash); also from
accumulated surplus common shareholders of record Dec. 15 1918 received
a stock dividend of 25%.
V. 107, p. 2191.
Oct. 1920 dividend omitted.
V. Ill, p. 1187.
The May 1921 pref. divs. were deferred.
CAPITAL STOCK.—V, 105, p. 2361) Jne 1 '18.
Auth.
Outstand'a.
Pref. cum. ($2,000,0000%; $6,550,500 7% )par $100 $8,550,500 $8,550,500
Common stock (par $100)
26,449,500 17,249,500
The shareholders voted Nov. 29 1918 (following a reappraisal of the
property) to increase the authorized capital from $20,000,000 ($11,449,500
Being common stock, all outstanding) to $35,000,000, the increase to con¬
sist of 150,000 shares of common stock, par value $100 each, making the
total authorized common stock $26,449,500; of which $17,249,600 Is out¬
standing, including the 25% stock dividend paid on Jan. 2 1919, and 25%
allotment at par to holders of record Dec. 15 1918.
On Oct. 30 1920 the
p. & 1. surplus amounted to $5,122,721.
V. 107, p. 1922, 2191, 2373.
BONDS, &C.—The remaining $3,000,000 bonds may be Issued up to
2-3 of the cost of future acquisitions, Ac.
Annual sinking fund, $250,000
cash, plus 2*4 % on any additional bonds. See V. 103, p. 2345. $1,078,400
bonds retired to Oct. 1920, reducing amount outstanding to $7,921,600.
The proceeds of the $10,000,000 notes sold in July 1918 provided addi¬
tional working capital by reducing current liabilities. While any of these
notes are outstanding the co. shall not further mtge. or pledge any of Its as¬
sets, and will not issue, guarantee or endorse any other bonds, debentures,
long-time notes or similar securities .except for acquisition of additional prop¬
erty and except "purchase money" obligations. The co. will maintain "net
und assets" equal
?iuick (first paymentto wasleast 200% of notes outstanding.of Annual sinking
at made July 15 1919) of 15%
the total notes
issued, will retire at least $1,500,000 of these notes in each of the year*
1919, 1920, 1921 and 1922.
V. 107. p 294; V. 108, n. 2632- .
,
REPORT.—Year ending Oct. 1920, in V. 112, p. 159, showed:
Gross
All ($).
Sales for Fiscal Years ending Oct. 31—Net Earnings
1915-16.
1916-17.
1917-18.
1918-19.
1919-20.
133,960,986 184,811,423 286,660,971 305,997,352
Res.for Fed.tax.&conting.
2,785,412
'677,352
Net avail .for divs.aft .all
Sales
288,802,000
398,948
int.,depr.,renewals.Ac.
4.430.529
3,376,809
2,064,995
624,288
Pres., E. A. Cudahy: V.-P., E. A. Cudahy Jr.; 2d V.-P., G. C. Shepard;
Treas., John E. Wagner; Sec., A. W. Anderson, Chicago.—(V. 112, p. 159,
165, 376. 474, 748.)
iH
MAP
h
OF
CUBA
SHOWING ALL WORKING SUGAR
ESTATES
OWNED
ESTATES
BY
CUBA CANE SUGAR CORPORATION
v
Shown thus:
W
ft
o
ffl
QQ
M
q
o
h
OQ
W
eh
m
P
§
Knar del Rio province
1
5
Aauncldn
Mercedita
2
Brnmnlea
ft
Oroico
3
CI
7
San
■4-
Pilar
GeraTdo
-
Ramdn
'
habana province
M
Puerto
Ciena
57
Reglttn
83
Constnnela
Espana
Espcransa
58
59
San
84
Constaneto
San
85
C,
43
Fella
00
S.
44
Flora
ftl
62
San
42
Noinbre
45
Mercedita
40
JesOs
1ft
N.S.Carmen
47
Fort una
20
Nuevo Pa*
48
Lulsn
Gdraes
21
Portngalft«
Provldenela
Rosarlo
49
22
23
50
Mercedes
Noeva Lnlsa
51
Olimpo
24
San Augustln
52
Por Fuerza
San Antonio
53
Porvenlr
54
Preeloso
55
Progreso
Mena
<18
Habano
15
10
17
OS
*
Joseflta
Julia.
La
Lo.terlo
23
2ft
Toledo
matanzas province
27
Aguedita
33
Canast
Maria ;
santa
Carolina
Trinidad"
107
Jesus
Parque
120
San
Pablo
140
TotaucQ
ISO
San
Pedro
141
Utncla
142
Alto
,
'
Stma.
Trinidad
America
Borjlta
182
Preston
164
Boston
183
Rio
Unldad
165
Cbaparra
184
Rontelle
166
Cape
185
Salvador*
167
Confluente
186
San
Aatonto
168
Cupey
187
San
Manuel
Covadonga
168
Dos
Hermanas
109
Patricio
131
Santa
Catallna
Hermanoo
HO
Persevera nelft
132
Santa
Lutgarda
(Velds I
143
133
Santa
Lutgarda
(Mata)
144
Vega, La
Victoria
134
Santa
Maria
145
Washington
146
Zasa
'
Dos
Santa
Gertrudls
8ft
El
111
Portugalete
Santa
Rita
80
Esperanxa
112
Purio
Saato
Domingo
Saratoga
67
Socorro
68
«9
70
71
72
Soled ad
Salvador
135
Santa
Rom
136
Santa
oriente province
162
163
Pastors
88
Teres*
Dellclas
188
San
Miguel
Doa
189
San
*?auido
19ft
Santa
Esperanca
101
Sants
<"eellln
Hatlllo
t»2
Santa
Lncfa
'03
Santa
Mart*
Rontons
Regla
94
Hormlguero
114
115
lift
Tlnguaro
Trluofo
03
Juragud
117
Results
147
Adelaide
155
Jagfieyal
73
{72
Trlunvlrato
06
148
Agrnmonte
156
Jatibonleo
174
140
Cnmagfley
157
Lugarelo
175
San
Isabel
Augustln
Mordn
Augustln (Reaaedloa)
Cespedes
158
Lutgardtta
San
150
90
11*8
lift
12ft
121
Rosalia
98
Julia, La
Lequeltlo
Lulsa y Autonla
176
Jobabo
122
AntonlA
Vertlentea
Macagna
San
159
100
177
Los
San Cristobal
EUa
160
Scnada.
Manuellta
123
152
101
124.
San Francisco
153
Florida
161
Sewart
San*Franctaco de Asia
154
Francisco
'V
clara province
Alava
34
Angellta
35
Conchit*
73
Vloleta
77
Caracas
3ft
Cuba
74
Adela
79
Cnrldad
Armonla
37
Dolorea
75
Altamlra
80
Australia
38
Dos
7ft
Andreita
81
Cnrroltn
Carolina
%
87
102
103
Mapoa
Maria Antonla
125
Reforma
camag0ey province
ResolnefAn
Rosa
El
Ermlta
«»3
Gratltud
Unldn
Cantft
170
169
Fe
Fldencta
93
"
Palmarito
171
91
-_i-
:
181
Cms
02
Aranjo
Soledad
13ft
Acnalla
30
Rosas
138
Lino
Santa
31
a
Jos*
San
87
Vicente
29
28
(H
137
San
Victoria
66
LimanCs
Gftlrn
Isldro
127
128
Maris
64
65
IS
Farjnrdo
1ft
San
IV arelsa
Katlvldad
104
86
Bautista
J.
de
126
105
(Const)
(Cncruc)
63
Gulpflzcoa
Amlstnd
0
11
Cayetano
Ignacto
166
Clenegulta
Dolce
4ft
8
<11
82
3ft
41
Maria
(Lajas)
151
Ctego
de
AvtUl
CI
Atnlgoa
•Isabel
(GuantAn&mol
f Media
Luna I
194
Ana
Sofia
105
Soledad
196
Teresa
178
Manatf
*07
Traaguilldad
170
Nlquero
108
Union
180
Palma
Canos
Curtis* Aeroplane fit Motor Co—Common stock
.....
Pref stock 7% cum a fd call at 105 till Jan 1 '18 then 110...
Dallas Power fit Lt Co—See Electric By. Section.
notes
To'o
12
100
100
1911
1.000
1920
500 Ac
1921
500
and Maturity
Dec
Dec
J Jan
A
J
&c
50
100
$4,000,000 are deposited as security for the 1st Lien A
(a) Additional $2,828,500 purchased and in treasury,
x
Addit ional
CUMBERLAND PIPE LINE CO.—ORGAN., Ac.—Incorp. In 1901 to
Kentucky.
Owns pipe line in Kentucky.
Formerly controlled by Stand¬
1912.
1913.
1914.
*15.
6%
DIVIDENDS.—
6%
5%
5%
*17. *18.
5% 10% 12%
*16.
$723,974
$389,028
■„.III(12%) 179^999 (12)179;999
Dividends
text
Nov 15 1920
text
M
&
F
6 g
8 g
A
$1 Checks mailed
*19.
12%
1920.
12%
1917.
1918.
$487,758
$564,054
(12) 1791991 (10)148,879
$543,975
Pres., Forrest M. Towl; V.-Pres. A Treas., E. R.
McLouth.
Office, Oil City, Pa.—(V. 112, p. 66.)
$384,063
$338,879
Shepard; Sec., O. A.
CUMBERLAND TELEPHONE & TELEGRAPH CO.—Incorporated
Operates under perpetual and exclusive license from
Telephone Co. through the entire States of Mississippi and
Louisiana, Tennessee and Kentucky and a few counties In Illinois.
On
Dec. 311920 owned stations 252,978, connection stations, 146,079 Southern
Bell Telephone A Telegraph Co. owns about 99% of stock.
V. 95, p. 684.
After cancellation of $12,000,000 of the $15,000,000 5s of 1912 the
remainder may be called as a whole at 105 and int. on 8 weeks' notice.
The greater part of the issue was acquired by Am. Tel. A Tel. Co. and by it
exchanged fbr Cum. stock, which has been cancelled.
V. 93, p. 1467;
V. 94, p. 210. 354.
in Kentucky in 1883.
American Bell
DIVS.
Cash
/'92 to '97/98. *99. '00. *01. *02 to '07 '08. '09 to '12
4 yearly
5
5*4 6'4 6 4 7 yearly 74 8 yearly
2% in stock of Amer. Tel. A Tel. Co. Sept. 15 1909.
%[
Also
*13. *14 to '20
7
6
REPORT.—Report for year 1920, In V. 112, p. 1287, shows: Gross.
$13,947,012; net, $1,578,029; rent, Int., Ac., $1,432,440; divs. (6%).
$886,405; bal., sur., $740,816.
OFFICERS.—Pres., J. Epps Brown; 1st Vice-Pres. A Treas., J. M. B.
Hoxsey, Sec., Addison Maupin.
Office, Atlanta, Ga.—V. 112, p. 1287.
CURTISS AEROPLANE & MOTOR CO.—ORGANIZATION .—In
corporated In N. Y. Jan. 14 1916 to take over the entire business founded
by Glenn H. Ourtiss for the manufacture of aeroplanes, Ourtiss flying boat*
and Ourtiss motors.
V. 102, p. 254.
Plants at Buffalo, N. Y., and Mar*
V. 102,
blehead, Mass.
p.
611; V. 105, p. 2097; V. 107. p. 406.
In July
135 acres, near MIneola,
1920 purchased Hazelhurst Field, comprising about
L. I., from the Hempstead Plains Co,
V. Ill, p.
392. V. 110, p. 2570.
STOCK.—Pref. stock outstanding, $6,000,000 7% cum., less $536,900
paid at 110 Oct. 15 1919 and $187,300 in treasury.
V. 109, p. 1277.
Com¬
mon stock auth., 303,000 shares or no par value; outstanding, 218,060 shares
V. 104, p. 2643.
•
expired Jan. 14 1921.
V. 112, p. 66.
1917 the Willys-Overland Co. purchased (a) 24,000 shares of
Ourtiss 7% pref. at $75 per share; (6) 60,000 shares of common at $25 a
share; and (c) $1,600,000 Curtiss 10-year 6% notes, convertible into com¬
mon at $50.
V. 106, p. 1464.
It was announced in Sept. 1920 that O. H. Keys had acquired control
The 5-year voting trust
in
Aug.
of the
company
the Willys-Overland Co.
from
The change in control
Involved purchase of about 100,000 shares of common stock, it was said,
but the price paid was not made public.
Status in Feb. 1921,
Blair"
11936
on
paid July 15 *16 to Jan. 1920 tocl.;
July 1920 dividend.
V. Ill, p. 193.
REPORT.—For year ended June 30 1920, in V. Ill, p. 2421, showed:
Profit and loss surplus June 30 1919, $1,714,412; net loss for year 1919-20,
$1,055,349; Federal taxes, $1,804,300; deficit June 30 1920, $1,145,238.
OFFICERS.—O. M. Keys, Pres.; F.
June 1 '211 H%
Q—M
MAN May 11931
10,000,000
11,533,725 10 in
Q—J
Apr 15'2124 %
9,500,000 See text See text See text
1^20
6,000,000
4,000,000
930.000
J
J
5g
5 g
A
A
D Dec 21 1928
A
DAVISON CHEMICAL CO- (THE).—Incorp. in Maryland Jan .2 1902
the Davison Chemical Co. of Baltimore County; name changed to present
title on May 11 1920.
Owns the entire capital stock of Davison Sulphur
A Phosphate Co.
Business consists of the manufacture and sale of sulphuric
as
acid phosphate, sodium silica fluoride, magnesium fluosilicate, iron
V. 112, p. 656.
sinter and silica gel.
$3. 668,400
value.
Majority of stock is deposited in a five-year voting trust
expiring May 31 1925.
Voting trustees are John J. Nelligan, C. Miller
and Waldo Newcomer.
V. Ill, p. 695.
BONDS.—Sinking fund 8% debentures, V. 112,
p.
656.
DIVIDENDS.—Paid $1 per sh. In Aug. 1920 and $1 per sh. in Nov. 1920,
OFFICERS.—Pres.,
O.
Wilbur
Miller;
V.-Pres.,
Geo.
W.
Davison.
E.^B.^Miller and^W. D. Huntington; Treas., T. J. Dee; Sec., J. R. Wilson.
DAYTON (O.) POWER & LIGHT
CO.—ORGANIZATION.—Incorp.
in Ohio March 23 1911 and is
supplying electric light and power in Davton
numerous neighboring municipalities
in the Dayton, Xenia, Piqua and Wilmington districts.
Divs. on pref
stock from Oct. 1911 to Apr. 1921, incl., 6% per annum
(1M% Q.-J.).
Initial div. on com. of 4% naid Feb. 10 1920; Dec. 20 1920 paid 4%.
In Feb. 1920 $576,000 additional
pref. stock was listed on N. Y. Stock
Exch., making the total amount applied for $4,306,000.
First A Ref. M. 5% bonds ($20,000,000 auth.) are callable at 105 on or
before Dec. 31 1936, and decreasing 1% for each succeeding year to 101 in
O., covering the entire city, also In
V'r,9^'
p*
282).
V. 105, p. 822; V. 106, p. 824.
The 1st lien A gen. mtge. 3-year 7s
Columbia Trust Co., trustee.
(issued in part to retire $1,750,000
1922; and at
1004 and Int. thereafter.
$4,001,000 1st A ref. mtge. 5s.
REPORT.—For year ended Dec. 31 1920:
Calendar Years—
1920.
1919.
Gross earnings—
$3,734,487
$2,932,868
Total income
983,802.
Charges, Ac...
551,175
208,821
dividends
Balance, surplus
Pres., F. M. Tait;
Broadway.—(V. 110,
Y
sale to e
res erved for
mployeee under
contracts
in the South West Africa Co., Ltd.
000 Deferred shares; par, £2.10s.
Pref.
cumulative div. of 40% and to priority for
further
shares are entitled to an annual
capital for the sum of £20 without
participation.
deposit agreement, dated Jan. 17 1920,
Co. of N. Y. as depositary, 32,000
deposited against which 80,000 "American"
shares have been issued in the ratio of five "American" shares for each two
original shares on deposit.
Additional "American" shares may be issued in
the same proportion against the deposit of further original Deferred shares.
The "American" shares represent a proprietary interest in the deposited
shares and are entitled to their pro rata benefit of all dividends and other
accretions on such deposited shares.
"American" certificates are exchange¬
able for original Deferred shares in the same proportion as the American
shares were issued.
The deposit agreement is terminable by the written
request of 75% of "American" shareholders.
entered
into with the
Deferred
shares
a
Central Trust
have
been
Dividends.—-For each of the six months
periods of the year ended June 30
on July 28 1920 paid $2 36 per
Jan. 27 1921 paid 75 cents per share.
Divs. on deferred shares
have been paid as follows:
1910, 1911 and 1912, 40% each; 1913, 60%;
1914, 50%; 1915 and 1916, none; 1917 and 1918, 40% each; 1919, 80%.
Debentures.—£1,607,395 A4%
South African Exploration Mortgage
Debentures, dated Jan. 23 1901; int. J. A J.
Denominations, £5, £10,
£50, £100, £500.
Auth. £1,750,000.
Redeemable at par Jan. 1 1930 or
at 105 at any time earlier or in case of voluntary dissolution, Ac.
Officers.—Carl Meyer, Deputy-Chairman;
E. F. Raynham, Joseph
Bruce, J. H. Bovenizer, Sec.'s.—General office, Kimberley, South Africa.
London office, 15 St. Swithin's Lane.—V. 112, p. 376.
1920
a
share;
div. of 60% (about $2 25) was paid;
on
DECKER & COHN, INC.. CHICAGO.—V. 109, p. 1528.
(ALFRED)
to
DEERE & CO.—ORGANIZATION.—Business founded in 1837; incorp.
1868 and again in III. in 1911. Manuf steel plows, farm implement* and
vehicles.
V. 92jj>. 959, 1245, 1313, 1502; V. 95, p. 238, 299.
In March
1918 purchased Waterloo (Iowa) Gas Engine Co., manufacturer of tractors
arfu gas engines.
V. 108, p. 969.
STOCK.—Pref. stock.
See V. 92, p. 1502; V. 95, p. 299, 820.
Out¬
standing $35,000,000, with additional $2,828,500 purchased and held in
treasury.
Common stock voting trust expired Nov. 1 1920 and was not
renewed.
Outstanding common stock Oct. 31 1920, $17,904,400, with additional
$3,668,400 practically all reserved for sale to employees under contracts,
V. 106, p. 921.
Div. on pref. Sept. 1911 to June 1921 incl., 1 *4 % quar.
NOTES.—The 74% gold notes are red., all or part, to May 1 1922, at
105 and int., and thereafter at 4 % less for each full year or fraction thereof
from May 11922.
A sinking fund beginning Feb. 1 1924 will retire $500,000
notes in each year 1924 to 1926, incl., and $625,000 each year 1927 to 1930,
incl., at not exceeding current redemption price.
V. 112, p. 748.
REPORT.—Report for year ending Oct. 31 1920 in V. 112, p. 1276:
1919-20.
1918-19.
1917-18.
1916-17.
earns, (all cos.)
$6,499,908
$6,555,807
$7,980,152
$5,851,130
$651,287
$634,199
$796,547
Admin., Ac., expense
$1,121,884
94,363
464,857
Int. on deb., Ac. (net)__
410,316
570,265
173,455
60,832
91,767
Depletion, Ac
160,041
Federal taxes
see "x"
yl,335,277
650,000
Contingent reserve
see "x"
2,518.455
2,450,000
Preferred dividends (7%)
2,450,000
2,450,000
$2,197,718
$7,807,177
$2,384,987
$2,413,570
$17,237,488 $15,039,769 $12,232,592
$9,847,605
all expenses for depreciation of property and equip¬
ment, for all taxes, for cash discount, uncollectible notes and accounts, and
for other contingencies.
y In addition to provision made by subsidiary companies.
Total surplus
x
$223,807
1,093,498
660,288
193,561
$239,649
Secured
by pledge of
OFFICERS.—Pres., Wm. Butterworth; Sec. A Compt., T. F. Wharton1
Treas., Geo. W. Crampton.
Office, Moiine, 111.—(V. 112, p. 748, 1148,
1276.)
DE LAVAL SEPARATOR CO.—(V. 112, p. 748.)
DELAWARE LACKAWANNA & WESTERN COAL CO.—Incorporated
Jersey on June 30 1909.
Purchases coal produced by the D. L. AW.
RR, in Pennsylvania for 65% of the market value at time of sale (N. Y.
tidewater orlce). assuming
all transportation oharges from the mines.
Stock, $6,590,700, acquired by D. L. A W. RR. stockholders July 20 1909
V. 89, p. 46: V
90. p. 561.
in New
Dec. 21 1920 ratified an in
$6,800,000 to $20,000,000.
V. Ill
CAPITAL STOCK.—The stockholders on
crease
p.
in the auth. capital stock from
2525.
DIVS.—
Regular
Extra
fll.
10
I
..%\
%
__
'12.
10
13.
10
'14.
10
'15.
10
'16. *17.'18. '19. '20.
1921.
10 10
10
10
10 24,24,-.-
20
10
50
10 text text
text
1917, June, 50% cash; Dec. 28, 40%; In bonds and
__
__
Extra dividends In
viz., 15% in British notes of 1919 and 1921 and 25% in U. S.
Liberty Loan 4s, due 1942: July 1918. 30% in U. S. Liberty Loan A4s.
Paid 75% stock div. to holders of record Dec. 21 1920.
V. 105, p. 2368;
V. 107jP. 184; V. Ill, p. 2525.
The u. S. Supreme Court on June 21 1915 In the suit brought by the Gov¬
ernment held that the company under the contract of Aug. 2 1909, with the
aotes at par,
t
^
^
merce
^
Inter-State Com¬
contract will be ar¬
Act and the Sherman Anti-Trust Law.
120 Broadway,
1917.
$2,430,728
802,079
$1,880,618
624,407
305,979
177,750
500,163
179,553
$122,363
DENVER
$140,678
80
A
new
ranged.
V. 101. p. 1750.
Balance sheet June 30 1915. V. 101, p. 208.
Report for cal. year 1913. in V. 98. p. 1311, showed: Goal sales, $38,376,486;
profit, $1,798,714: other income. $298,067; divs. (30%), $1,977,210; bal..
sur., $119,571.
1918.
Sec. A Treas., O. E. Howland.
N. Y. office,
1092, 1293; V. Ill, p. 592, 1953, 2329.)
p.
After deducting
D. L. A W. RR. violated the commodities clause of the
gen. mtge. 7s, due April 1 1920) are callable as a whole on 30 days' notice
at 101 and Int. on or prior to Mar. 1 1921; at 100H and int. thereafter to
Preferred
N
MoMlllin,
Emerson McMlIlin A Go
Citizens S A Tr Go, Olev
DE BEERS CONSOLIDATED MINES, LTD.—A registered company
par
1
Ill
mailed
Checks mailed
Checks
of the Province of the Cape of Good Hope in the Union of South Africa.
Company is said to control about 80% of the world's output of diamonds.
Owns entire capital stock of Cape Explosives Works, Ltd.; a controlling
interest in the Premier (Transvaal) Diamond Mining Co., Ltd., and shares
CAPITAL STOCK.—Auth., 235,000 shares; outstanding, 200,000 shares
Mar.
Moiine.
Office,
New York or Chicago
Emerson
J Jan 1 1923
J See text
J
5 g
Co's
Balance, surplus_____
DALLAS (TEXj POWER & LIGHT CO.—See "Electric Railway Sec."
no
Co.'N Y;~ A Bait
H. Russell, V.-Pres.—(V. 112, p.
66, 165, 748, 853.)
acid,
A
xTotal
V. 112, p. 853.
DIVIDEND.—On pref. 7% p. a. was
action deferred
<
S Mar 1 1927
A Feb
American Shares.—Pursuant to
Balance, surplus.$209,029
T
Capital Stock.—Auth. A outstanding, £2,000,000 Preference and £2,500,-
REPORT.—For 1920 in V. 112, p. 566, showed:
1920.
1919.
Profits for the year
N
M 7s.
Gen
(b)
ard Oil Co. of N. J., segregated in 1911.
(Paid ann. In Dec.)
Go,
Dec20 1920 4%
3,053,000 See text
3,554,900 6 In 1920 ~~Q—J~~ Apr 1 1921 14
MAS Mar 1 1937
Equitable Trust Go, N Y
2.432,000
fg
Columbia TrOo. NY
5 g
J
A
D June 11941
*2.540,000
Cent Un Trust Go, N Y
MAS Mar 1 1923
7
3,000,000
1,000
1,000
1.000
1908
Interest and
Tr
Columbia
11937
^
1898
1903
Where
Dividends are Payable
15'20,12% Cheeks mailed
100 bl7,904,400
100 a35,000,000
redeemable
Places
Jan"f5r203>4% 52~Vanderbl]t ave.~N~Y
see text
2,087,000
2,000,000
Ac
1,000
1907
(text)
Cec.xxxc*
Delaware Lack & Western Coal—Stock $20,030,000
Oerroit City das—Stock $15,000,000 (V. 101. p. 373)
New preferred stock—see text
gold mortgage bonds $6,000,000 call 110
N.c
General M $10,000,000 gold (see text) call 105-Eqxxc*,&r»
Detroit A Suburban Gas Co 1st M gold red 103
c*
Gold
Payable
200,000 shs. See
None
1917
1921
Dayton Power fit Light Co—Common stock $14,000,000—
Pref stock 6% cum callable at 110 & diva $6.000.000
Dayton Ltg Co 1st A Ref Mtge call 1074 assumed-Eq.c*
1st & Bef M $20,000,000 a f call 105
K.c*
1st lien A gen M 3-yr 7a auth $5,000,000 call text.Oe.xxx.c*
De Beers Consolidated Alines, Ltd—See text
Deere & Co—Common stock $25,000,000
Preferred (a & d) stock 7% cum not callable
FC
When
%
500 Ac
14.969,000
None 218,060shra
100
5,463,100
1912
Davison Chemical Co (The)—Stock 235,000 shares
Davison Sulphur A Phosphate 1st mtge
Sinking fund gold debentures red 106
SBa.kxxxc*
Rale
$1,500,000
$100
Cumberland Pipe Line Co—Stock $1,500,000 V. 105, p.502
Cumberland Telep fit Tele*—1st A Gen M $15,000,000
authorized red text
Col.xc»Ar
Dividend
Last
Amount
Value
Bonds
&c., see notes on page 6]
Outstanding
Far
Dale
MISCELLANEOUS COMPANIES
[For abbreviations,
[VOL. 112.
STOCKS AND BONDS
INDUSTRIAL
172
Pres., J. F. Bermingham; Treas., J. J. A. Owens.
N. Y.—(V. 111. p. 2329, 2525.)
GAS
&
ELECTRIC LIGHT CO.—(V.
112, p.
Office,
1403.)
^DETROIT CITY GAS CO.—Organized in March 1898 and owns all the
Es properties in Detroit, 99% of the stock. V. 82, p. 283, 989.
Has a franchise till 1923.
ght A Tr. Co. owns over Mich.
1913 acquired the physical property of Detroit A Suburban
ject to $930,000 20-year 5s due Dec. 1 1928.
V. 97, p. 731.
V. 112, p.1028.
8TOOK.—In Aug. 1915
The Aug. 1
On Amer.
Gas Co., sub¬
Rate increase,
auth. was given to Increase limit of stock to $15 000,000 and to issue $1,128,000 to provide for extens. A improv'ts and
MAY, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on page 6]
Date
do
Par
Amount
Rate
When
Value
Outstanding
%
Payable
1903
$100 $27,900,300 8 in 1920
J
1.000
10,000,000
.
1915
500
c* #14-'15
c*
1918
do
do
c*
1919
(series 1930) subj to call__c*
1920
do
do
(Series 1931)
do
c*
1921
Eastern Mich adlson 1st M $lu,o00.000g gu call 110-Eax
1906
Diamond Matcft—atock *i8.U00,000 (listed In Chicago & NY)
Debentures gold sink, fund call, text
xxxc*
1920
Dome Mines—Stock $5,000,000 auth
Dominion Coal—Pre! 7% cum oonv red at 125 (V 80, p 1732)
1st M g sink fund $79,000 yrly call 105 (V. 102,p. 1642) xc*
1905
Oominion Iron & Steel—Pref stock 7% cum convertible
First mtge gold subject to call at 110 sinking fund—jb
1899
Consolidated mortgage $20,000,000 auth red 105——
1909
z
Dominion Steel Corporation—Com stock auth $60,000,000
Pref stock 6% cum red 110. Convert, by holder Into com
Cumberland Ry 6c Coal Co 1st M $3,000,000 g guar
1910
DrlggcSeabury Ord Corp—See Savage Arms Corporation.
Dnluth Edison Elec—Com stk $1,000,000 auth (V 86. p 1533)
Pref stook $1,250,000 (auth a A d) 6% cum red 120
First mtge $2,000,000 gold red 105 sinking fund
1906
OBx
100 Ac
Ac
100A1M
100-1000
1,000
100
100 Ac
10
100
Ac
100
$"&£"
7.262.527
See
100
—
Includes $544,000 held alive In sinking fund and $93,000
a
also
$1,792,000
as a
"l'.OOO
100
1.000
stock dividend of 27.234% to represent earnings di¬
verted in recent years for additions, Ac., making total outstanding stock
The stock dlv. was paid at once.
V. 101, p. 373. 616.
April 1921 authorized the issuance of $5,000,000 8%
V. 112, p. 1870.
cumulative preferred stock.
bonds and those auth. July 1 1923.
Bonds due 1917 to 1922 are redeemable
at par and those due 1923 at 105 and Int. If bonds of earlier maturity than
1923 are called, holder may take new bonds due July 1 1923. V. 106
1038; V. 77, p. 253; V. 78, p. 822; V. 97,
p.
1200, 1820.
Statement to
Y. Stock Exchange, V. 79. p. 102.
198
OFFICERS.—Pres.. Emerson McMillln, N. Y.
Gen. Mgr.. O. W. Ben-
nett, Detroit, Mich.—(V. 112, p. 1028, 1870.)
DETROIT EDISON CO.—ORGANIZATION.—Incorporated In Jan
1903: owns capital stock of the Edison Illuminating Co. of Detroit. Penln•ular Electric Light Oo., Inc., and Delray Term. RR. Co.
Serves Detroit
and suburbs. Ann Arbor, Ypsilantl, Mt. Clemens. Monroe, Port Huron and
other towns and rural districts. V. 100, p. 707, 1580; V. 109, p. 1277. 1529.
Rate increase V. Ill, p. 1283.
STOOK.—The stockholders voted Nov. 24 1919 to increase the authorized
capital stock from $35,000,000 to $60,000,000 and to authorize the issue of
$10,000,000 additional conv. deb. bonds.
V. 109, p. 1795.
In connection with the offering to stockholders of 8% convertible deb.
bonds in Dec. 1920 (see below), the company announced that additional
capital stock of the same amount would be issued.
The stockholders were
invited to waive their right to purchase any portion of this new stock so
that the company may be free to sell it from time to time to other purchasers.
If any stockholder desires to purchase his share of this stock for cash at par,
the company will reserve for him the number of shares to which he is en¬
titled, if advised.
V. Ill, p. 2233
DIVIDENDS.—
f
1909.
1910.
1911-15.
\
Percent—.
4%
5%
7% y'ly
1910 to Apr. 1921
8yrly(2% quat
BONDS.—The Refunding Mortgage of 1915 is for $75,000,000
(Interest
rate to be fixed at time of issub), to retire at or before maturity the $10,000.000 1st M. 5s and $4,000,000 East. Mich. Edison Oo. 1st M. 5s, and to pro¬
vide add'l capital when needed.
Callable until Mar. 1 1930 at 107 Xi then
to Mar. 1935at 105. thereafter 102 X'
V. 100, p. 2169; V. 102, v. 1990: V
103, p. 2240; V. 105. p. 74; V. 106, p. 2503 2852; V. 109, p. 1277, 2300.
From 1910 to 1915 Issued $9,000,000 6% 10-year convertible bonds, call¬
able at 105; of these to July 1920, $8,850,400 had been converted Into
stock, leaving $149,600 outstanding.
An issue of $9,000,000 convertible bonds, for use If and when occasion
requires, was authorized Nov. 22 1917 and shareholders of record Dec. 18
1917 were permitted to subscribe at par for the Initial $3,800,000 10-year
Debenture 7s.
These bonds are convertible between Jan. i5 1920 and July
15 1927 into stock, $ for $, and are subject to call Jan. 15 1923 to Jan. 1ft
1926 at 105; thereafter at 102 and int. (but still convertible If called).
Eastern Michigan Edison Oo. 1st M. bonds are callable at 110.
Stockholders of record Dec. 31 1918 were permitted to subscribe at par
for $2,600,000 (underwritten) 10-year 7% convertible debentures, dated
Feb. 1 1919, In amount equal to 10% of the par value of stock then held;
These bonds will be convertible between Feb. 1 1921 and Aug. 1 1928 at
option of holders into paid-up stock of the same par value.
Redeemable
Feb. 1 1923 to Jan. 31 1927 at 105 and interest, ana on or after Feb. 1 1927
and before maturity at 102 and int., on 60 days notice, and when so called
for redemption, may at option of holders be converted at any time before
redemption date.
V. 107, p. 2379.
Stockholders of record Feb. 4 1920 were offered the right to subscribe to
an issue of 10-year 7%
convertible debentures (series 1930) at par to the
extent of 20% of holdings.
Dated March 1 1920, due March 1 1930.
Convertible between March 1 1922 and Sept. 1 1929 into capital stock at
par.
Redeemable on or after March 1 1924 and before March 1 1928 at
105 and interest, and on or after March 1 1928 and before maturity at
102 and int.
V. 110, p. 284.
Offering by Coffin A Burr and Spencer
TraskAOo.. V. 110.P. 973
The stockholders of record Dec. 11 1920 were given the right to subscribe
at par up to Jan. 10 1921 to a new issue of 8% 10-year Convertible Deben¬
tures to 20% of their holdings.
The debentures (series of 1931) are con¬
vertible between Jan. 10 1923 and July 10 1930 into capital stock of same
par value.
Callable on and after Jan. 10 1923 at 105, and on Jan 10 1924
and at any time thereafter at a premium of X % for each year or unexpired
portion thereof to maturity.
V. Ill, p. 2233.
,
REPORT.— War eel. year 1920:
Qaleniar
Gross
Years.
Earnings.
Net, after
Taxes, Ac.
1920-- .$21,990,352 $4,533,694
1919
1917
10,498,391
13,801,527
12,279,926
4,278,318
3,747,990
3,664,410
Interest
Charges.
Other
Deduc'ns.
Dividends
(8%).
Balance
Surplus
$2,462,758$875,380$2,201,627dfl,000,071
1,721,582
1,353,767
1,028,562
239,659
240,186
272,328
2,058,531
2,055,625
1,966,905
258,545
98,413
396,616
OFFICERS.—Pres. A Gen. Mgr., Alex. Dow; Vice-Presidents, Alfred
faretzki, N. Y.; Alfred C. Marshall and James V. Oxtoby, Detroit; Sec. A
Treas., James F. Fogarty, N. Y.;
Treas.. Samuel C. Mumford.
Detroit.
Offices, 30 Broad St., N. Y.; 18 Washington Ave,, Detroit.—
(V. 112, p. 261, 474, 1521, 1620, 1870.)
DIAMOND
MATCH
1889 In Illinois
CO.—ORGANIZATION,
Spokane, Wash.; Athol, Mass.; Biddeford, Maine;
Seuthford, Connect.; and Stirling City, Califorhia; machine shop and
foundry at Barberton, Ohio; paper board mill at Southford. Connect.;
block factory at Sopkane, Wash., together with plant employed in lum¬
ber operation In California consisting of saw mills, power plants,'logging
railroads, equipment, rolling stock, retail lumber yards, Ac.
Also owns a
plant at Burmester, Utah, at which muriate of potash is produced, and a
number of chemical plants built during the war and post-war periods.
Owns holdings of pine lands in Maine, Mass., N. H., Vt. and California,
and conducts selling branches in N. Y., Boston, Chicago, St. Louis, San
Francisco, Atlanta and New Orleans.
Is interested in the match business
of Great Britain (V. 108, p. 1821) and Peru.
debentures are redeemable all or part at
1 1923 to Nov. 1 1930; thereafter at 105 and int.
for each 6 mos. elapsed after Nov. 1 1930.
Sinking fund of $100,-
DEBENTURES.—The 714%
do
do
do
do
15 1928
Feb 1 1929
Marl 1930
do
do
do
Jan
10 1931
Nov 1 1931
do
do
do
do
do
do
,
June 15 *21 2% By oheck from N Y Office
Nov 1 1935
New York or Chicago
Apr 20 *21 25c. Checks mailed
May 1'21
IX
do
do
N E Tr Co, Bost A Mont
May 1 1940
Apr 1 '21 IXJo
July 1 1929
Bank
of
Sept 1 1939
1921
IX
Montreal,"
Can
do
do
IX Can. Bank of Commerce
May 1 1921
O Oct 1940
Montreal, Canada
Apr 1 1921
S Mch 1 1931
equally secured therewith.—V. Ill,
Guaranty"Tr," N
1H
Old
Y
Colony Trust Co. Bos
1750, 1855.
p.
ANNUAL REPORT.—Report for 1920, in V. 112, p. 1395 shows:
Calendar Years—
1920.
1919.
1918.
1917.
Earnings
.—$4,026,603
Gen., Ac., deprec., res... 1,429,302
Res. for inc. taxes, Ac
450,000
Bryant A May stock div_
Dividends
1,357,208
Balance, surplus.
Total surplus
$3,556,398
882,883
500,000
1,357,208
$3,679,167
1,264,940
*550,000
194,400
1,357,208
$5,637,925
2,309,440
1,103,098
279,475
526,859
$816,307
2,265,787
$701,419
1,449,480
$978,003
748,060
/
$790,093
3,055,880
OFFICERS.—Pres., W. A. Fairburn; V.-Pres., T. J. Reynolds, H. O.
)ranz; Sec., H. F. Holm&n; Treas., N. O. Johnson. General offices, 110 W.
St., Chicago.
N. Y. offices, 111 Broadway.—(V. 112, p. 1287,
1395,2087.)
Kinzie
MINES
DOME
CO.,
LTD.—Incorp.
by letters patent issued under
Capital stock, authorized
The Ontaro Companies Act, dated Jan. 20 1911.
$5,000,000, issued $4,706,670.
DIVS.—Sept.
1915 to. Mar.
Par .value, $10.
1917 paid
5%
quar.;
June 1917, 2X%'.
1918 and 1919, none; Jan. 1920 to Aprill921, 2X % quar.
Earnings, 5 mos. ended Aug. 31 1920; Gross, $855,188; net, $387,584;
other income, $118,731:
reserves, $307,848;
surplus, $198,466.
Pres.,
Jules S. Bache;
Sec., Alexander Fasken.
Main office, 36 Toronto St,,
Toronto, Can.
DOMINION STEEL CORPORATION, LTD.—ORGANIZATION.—
Incorporated in 1910 to amalgamate (per plan in V. 90, p. 1104, 1173) the
Dominion
Coal and
the
Dominion Iron
A
Steel companies.
Owns prac¬
tically all of the common stock of Dominion Iron A Steel Co. and Dominion
Coal Co., and also stock In Cumberland Ry. A Coal Oo.
Cumberland Ry.
A Coal Co. owns coal areas near Glace Bay, N. S., and road Springfield Jet.
to
Parrsboro, N. S., 32 miles.
See V. 91, p. 1772,1632. 1576; V. 92. p. 186.
indefinitely Aug. 24 1919 owing to lack or orders.
Plant at Sidney was closed
V. 109, p. 778.
The new rolling mill (built under Govt, guaranty) capable of producing
annually 150,000 ton of steel plates for ships has been completed.
Merger Plan.—The stockholders in April 1921 ratified the plan to merge
into the British Empire Steel Corp.
See statement of latter company.
STOOK.—Common,
vhlch $5,900,000 held
$50,000,000 auth.; outstanding, $43,000,000, of
by constituent companies; par $100.
$5,902,300
(tock issued In exchange for Dominion Iron A Steel Co. stock, V. 110, p. 662.
DIVS.—
On
1912
common
On
4
1913
4
1914
1
1915-16
1917
3
nil
1918
5
1919 to Apr.
1921.
6%yrly.(l>4%Q J.)
preferred.In full to May 1921.
REPORT.—For year end. Mar. 31 1920, V. 110, p. 2485, shows:
1920.
1919.
1918.
1917.
March 31 Years—
Net
earnings*
Depreciation
$5,532,529
1,266,856,
1,004,060
Preferred dividends (6%)
420.000
Sub. company pref. divs.
500,000
—
Interest
Common
$8,768,054 $11,030,112 $12,967,875
1,859,596
1,304,322
1,384,242
1.013,264
1,230,204
1,064,210
420,000
560,000
420,000
560,000
dividends—(6%)2.029629(5«) 1765374(4X) 1444396
420,000
560,000
(1)320,977
Balance,
*
After
surplus
$251,984
$3,705,094
$6,157,264
$8,577,098
deducting all manufacturing, selling and administrative expenses,
and Government taxes for the year.
Chairman,
1148, 1403.)
Mark
Workman;
Pres.,
Roye
M.
Wolvin.—(V.
112,
p.
Dominion Coal Co., Ltd.—ORGANIZATION.—Incorporated in 1893,
Pref. is entitled to 115% out of assets ahead of common in dissolution.
Dividends now paid quarterly (7% p. a.. 1X% quar.).
Adjustment of
coal areas.
V. 108, p. 2244
Output for
year ending Mar. 31 1919, 3,622,644 tons, against 4,279,772
1916-17.
Bonds (Royal Trust Co., Montreal, trustee), see V. 80.
1481,1732; V. 88. p. 1562. 1624; V. 89. p. 106.
Coal 8% debs., $3,500.000; see Dom. Steel Corp. above.—(V. 112, p. 1403, 1620.)
tons in
p.
Dominion Iron & Steel Co.—Works at Sydney, Cape Breton: daily ca¬
pacity 1,000 tons of steel.
Owns six blast furnaces, open-hearth plant,
billet mill, blooming mill and red mill.
See V. 79. p. 2203.
Rail mill,
700 tons daily capacity.
Reputed capacity, 400,000 tons of fintshed steel
per annum.
V. 77, p. 149. V. 81. p. 1549; V. 90, p. 1042: V. 92. p. 1433;
V. 94, p. 1319; V. 97, p. 1580.
The semi-ann. dlv. on pref. stock due Oct. 1
1914 was deferred.
In Apr. 1916 dividends were resumed at the regular
BONDS.—Of $20,000,000
consols., sufficient reserved for underlylnf
V. 87. p. 99; V. 88,
p. 1064. 1315, 1624; V. 89, p. 106.—(V. 90,
1698; V. 97. p. 804.
See above.
V. 106, p. 1464. 1581; V. 107. p. 85.
bonds.
p.
Ac.—Incorporated
Connecticut corporation.
Owns
N. H., Vt. and Me., and has extensive
California: owns match factories located at
Mass.;
105 and int. from Nov.
do
Jan
11890 to 1908. '09. '10. *11. '12-'15. '16, *17, '18. *19. '20.'21.
110 (214 quar.)
8
6
6
7 y'ly
7X
9
8
8
8 text
8ept. 1917 to June 1921.2% quar.
DONNER STEEL CO.. INC.--(V. 110,
as successor to a
holdings of timber lands in
Oswego, N. Y.; Oshkosh, Wis.; Barberton, O.; Chico, Cal.: 8avannah. Ga.;
less X %
&
Payable
DIV8.—
sracts of timber lands In Mass.,
Springfield,
A
are
since 1893 %
Asst.
Feb. 13
A
5 g
July 1 1940
Var. 1921-25
text Apr 1
Q—F
500,000
1,150,000 6 in 1920
M
al .809.000
5g
••sue Is
BONDS.—Of the General M. 5s of 1903 ($10,000,000 authorized Issue)
N.
6
Dividends
Apr 15 1921 2% Checks mailed
Jan
1 1933
NoAmOo.30BroadSt.NY
July 1 1940
do
do
000 J. A J. of each commmencing July 1 1921 to be applied to
purchase of
lebentures at not exceeding par and int.
No future mortgage unless this
$6,000,000 were reserved to retire the prior liens. Of the outstanding bonds
$100,000 mature yearly July 1 1918 to 1922 and remainder of outstanding
p.
1920 See
Places Where Interest antI
in treasury.
$9,500,000.
The stockholders in
MAS
text 6 In
7,000,000
1.142,000
—
100
J
V
100 Ac
500
A
173
Last Dividend
and Maturity
MAS
5 g
16,665.000
6 g
MAS
10,000,000
Various
138,300
J A J 15
1,887,100
F
7
A
A
2,365,700
7
MAS
5,503,500
J A J 10
8
5,452,600
5 g
MAN
4,000.000
16,965.100 8 In 1920
Q—M
MAN
6,000,000
7X g
text Q—J
4,766,670 See
20
7
3,000.000
Q—F
5 e
MAN
6,016,500
5,000,000 7 in 1920
Q—J
J
A
J
6,237,000
Ac
100
Q—J
i8
500 Ac
1915
do
do
Series B
Debentures gold convert (ser 1924-25) subj to calldo
do
do
do
BONDS
Bonds
•Jetroit Edison—Stock $60,000,000 authorized
1st M $10,000,000 gold (V 77 ,p 2037; V 97. p 63)
d.xc*
First and Ref $75,000,000 auth Ser A red text. Bayc*Ar*
do
STOCKS AND
o
p.
1751; V. Ill, p. 497.)
DULUTH EDISON ELECTRIC'CO.—ORGANIZATION.—Incorporated
Minnesota in 1906 as successor of the Duluth General Electric Co.
Has
iErilmlted franchise and 10-year contract with Great Northern Power Co
»x(lrlng in 1927 to provide power on advantageous terms.
V. 82, p. 572.
DIVIDENDS.—On pref., 1 X% quar., July 1906 to Apr. 1921. Inol.
BONDS.—Of the bonds ($2,000,000 authorized Issue), the unissued
bonds are Issuable for 80% of cash cost of additions and Improvements,
pgovided for 12 months preceding net earnings shall have been twice
interest on all bonds out and to be issued.
See V. 82, p. 572.
tn«
EARNINGS.—Statement for year ending April 301915 (latest available)
in V. 101. p. 133 showed: Gross. $510,713; net, $188,929; Interest. $67,650;
sink. fund. $25,000: pref. dlv. (0%). $69,000: bal.. sur., $27,279.
Pres., A. W. Hartman, Duluth, Minn.; V.-Ps., D. F. McGee, NVY., and
O. E. Van Bergen, also Sec., Duluth, Minn.; Treas., T. O. Hartman.
Duluth, Minn.; Asst. Sec., E. P. Summerson, and Asst. Treas., William
Eeiser, both of New York.—(V. 101, p. 133; V. 100, p. 818.)
Date
Par
Amourd
Kate
When
Last
Value
Outstanding
%
Payable
and
Maturity
10-year gold bonds red.
(text)..
100 Ac
10
1921
..Be* A r*
stkt$2,942,728)
100
$16,068,301-.1900
1,000
1910
Bonds (not M> $16,000,000 g red at 110; opt V 95, p 969.x
du Pont Bidg Corp 1st M $1,500,000 g lnt tru red 110 ,xc*
1.000
1
Durham Hosiery Mills—Com Class "A" auth $1.250,000—
Common Class "B". non-voting, auth $3,750,000
Preferred, 7% cum (a & d) call 120, auth
East Ohio Gas Co—Common
.
100
$5,000,000
—
100
„
,.r»rTr.
100
Preferred stock 7% cumulative.
100
Eastman Kodak—Common stock $25.000,000
Preferred (a & d) $10,000,000 6% cumulative
-
100
100
Edison Electric Ilium Co, Boston—Stock
Boston El Lt Co 1st Consol Mtge g
1894
Coupon notes callable on 4% basis
.
Four-year gold notes $3,000.000
.....
Three year gold notes $6,000,000
Edison Electric Illuminating—See Kings County
Electric Llg
500 Ac
1917
...OB
c*
—c
1.000 Ac
1,000
1918
1,000
1919
ht&P
ower
35,000,000
7)4 g M & N
2.942,728 0 in 1920
Q—F
5 in 1920
Q—F
■, 247,801
A
D
4 y% g J
1,060,000
J
&
D
5 v
1.500,(XXi
See text
1,250,000
See text
3.750,000
2,910,000 See text
Q—F
28.039,000 10 in *19
10,000.000 7 in 1919
Q—-J
19,563,400 45inl920
Q—J
0
b, 105,700
Q-J
22,528,000 12 in 1920
Q—F
MAS
5 g
1,250,000
J
A
D
5
10,000,000
F
A
A
3,000.000
Ig
F
A
A
0,000,000
6g
Consolldat ed Gas C
and
CO. (of Dela.)—Incorporated Id
1915 succeeded to the ownership of
de Nemours Powder Co. of N J.
(per plan In V. 101, p. 610, 690, 848), with no change In the management
and without creation of bonded debt or fixed charges.
In Dec. 1915 pur
chased the Arlington Co. of N. J. for about $0,500,000.
V. 101, p. 1888.
In May 1917 had acquired from the Government of Chile two large nitrate
fields in the northern part of that country. V. 104, p. 1902; V. 106, p. 1034.
In 1917 built at Deep water. n. J., an extensive plant for manufacture of
coal tar dyes.
V. 105, p. 6l0. The plant at Hopewell, Va., was closed in
Not. 1918 because of cancellation of orders due to end of war.
V. 107, p.
E. 1. DU PONT DE NEMOURS &
Delaware on Sept. 4 1915 and on Oct. 1
all the properties of the E. I. du Pont
2100; V. 108, p. 174.
In 1917 purchased the property of Harrison Bros. & Co., Inc., and other
companies and had made substantial progress in the manufacture and sale
of fabrlkold. pyralin, lacquers, solvents, dyes and a variety of chemicals.
V. 106, p. 1034, 1347.
Export Co., V. 107, p. 2292; V. 108,"p. 83, 174,
1392.
In Oct. 1918 purchased New England Paint A Varnish Co. of Ever¬
ett, Mass.
V. 107, p. 1671.
To build new dry color plant.
Y. 112,
chartered Dec. 12 1918 In Delaware with
a capital of $6,300,000 at the instance of the du Pont interests to engage
in the dyestuff business. V. 108, p. 174; V. 106, p. 1034.
In May 1920 purchased, in connection with the Flint Varnish A Color
Works, the plant and business of the Chicago Varnish Co.—V. 110,, p.
2294.
'
*
In* Nov. 1920 acquired from W. C. Durant 2<;504,273 shares of General
Pont Chemical Co. was
Corp. common stock, through the newly organized Du Pont Secur¬
ities Co.
Negotiations were conducted through the Du Pont Amer.
Industries, Inc., which is entirely owned, and the Chevrolet Motor Co.,
in which the company had on Dec. 31 1920 acquired about two-thirds
interest.
On Dec. 31 1920 Du Pont Amer. Industries, Inc., (including
its equity through its holdings In Canadian Explosives, Ltd., Du Pont
Securities Co. and Chevrolet Motor Co.) owned 29.57% of Gen. Motors
common stock.
Compare V. 112, p. 1139.
For securities to be issued by Du Pont America Industries, Inc., compare
V. 112, p. 2087.
CAPITALIZATION.—The auth. capital stock Is $240,000,000 in shares
of $100 each, viz.: (a) $150,000,000 6% cumulative non-voting debenture
stock; (6) $10,000,000 6% cumulative voting debenture stock; (c) $80,000,000 common stock.
V. 101, p. 616, 848, 1275.
The shareholders on Oct. 10 1917 decided to forego the right to acquire
Motors
for the company
Where Interest and
Dividends
are
Payable
text Q—M 15 Mar 15 '21 2% Checks mailed
$100 $63,378,335 See
do
100
6
Q—J 25 Apr 25 '21 1)4
70,629,050
<B I) du Pont da Nemours & Co—Oom stock $80,000,000-.
Debenture stock 0% red at 125% cum voting $10,000,0001
da
do
do
non-voting $150,000.000
/
IE I) du Pont de Nemours Pow(old co)—uora
Preferred (a A d) stock 5% cum (see text)
Places
Dividend
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on page 6]
P'Thedu
[Vol.112.
INDUSTRIAL STOCKS AND BONDS
174
the stock interests in the enterprise acquired by the com¬
pany's leading officials from T. Coleman du Pont.
See V. 105, p. 1107,
1525. 1901, 2001. Litigation (Jan. 1918), V. 100, p. 300. 824, 1233, 1581.
Stock ownership suit.
V. 107, p. 1484; V. 108, p. 970,2025,2332. Trust
suit. V. 107, p. 2292.
Rights of Debenture Stock.—Except as to voting powers the rights of both
debenture stocks will be identical.
All debenture shares will bear cumula¬
tive dividends of 6% p. a., may be called for payment at $125 per share,
and have preference as to assets for both principal and accumulated divi¬
dends.
No mortgage or other specific lien may be placed upon any of the
o
of New
May 1
June 1
share.
IK
1M
Checks mailed
do
Guaranty Trust Co, N
1930
Y
June 1 1940
See text
See text
1%
May 11921
Rochester, N Y A Lond
do
do
1921 1)4
May 2 1921 3% By check
State Street Tr, Boston
Sept 1 1924
Old Col Tr Co, Boston
Feb 1 1922
See text
July 1
de
do
Aug 1 1922
1 1922
York
Boston
Feb
In Jan. 1918 and dividend paid of $90
Common stock reduced to $10 par
per
New York
1931
May2'21'
May 2 21
V. 105, p. 2001.
incl.. paid 1)4% (quar.)
DIVIDENDS.—From Feb. 1916 to May 1921,
on common
shares.—(V. 105, p. 2001.)
V. 110, p. 2196.
;
DUQUESNE LIGHT CO.—See "Elec. Ry." Sec.
DURANT MOTORS, INC.—Incorp. in N. Y. Jan. 13 1921 in the
inter¬
est of Wm. C. Durant, former Pres. of the Gen. Motors Corp., with an au¬
thorized capital of 1,000,000 shares of no par value.
Compare V. 112, p.
261, 1403, 1521.
DURHAM HOSIERY MILLS.—Incorporated under laws of North
Carolina, Feb. 17 1898. Business is the spinning, manufacturing and selling
of hosiery and similar lines of cotton, woolen, silk or other materials.
Mills
are located at Durham, N. C., High Point, N. O., Carrboro, N. C.,Golds-
Also owns 97.1 % of the capital stock of the
North State Knitting Mills, Inc., with property situated in Durham, N. C.
CAPITAL STOCK.—Acquisition of interests in small hosiery mills dur¬
boro, N. O., and Mebane, N. C.
ing 1920, V. 112, p. 474.
Pref. stock is redeemable at 120 and has no voting
power except in tne case of default in dividends for two quarterly periods,
when it then has the sole voting power. A yearly sinking fund of 3% of the
largest amount outstanding 1s provided for.
Preferred as to 120% of assets
In case of dissolution.
Common Class "B" stock has no voting power.
V.
109, p.
891.
Rights.—Stockholders received the right to subscribe until Jan. 10 1921
$37 50 per share.
V. 112, p. 66.
the pref. stock are payable quar., Feb. 1, Ac.
1912.
1913-17.
1918.
'19.
1920-'21.
to additional Common "B" stock at
DIVIDENDS.—Divs.
on
See
text.
1920, paid
"A" and "B"* July 1 and Oct, 1 1920
com. "B"; Jan. 3 1921 paid 1H% in
Common, Class "A"
7)4
7 yearly
12
12
Common, Class "B"
6)4
12
Feb. 1 1920 paid 4% on com. "A" and 4% on com. "Br Apr. 1
l$i% quar, and H% extra on com,
paid 1M% quar. and )4% extra on
scrip on com. "B."
OFFICERS,—J, S, Carr Jr,, Pres.* C, M, Carr, 1st V,-P, A Treas,
A, H, Carr. 2d V.-P, A Asst, Sec,* W, F, Carr, Sec, A Asst, Treas.
Main office, Durham, N. C.—(V. 112, p. 66, 261, 474, 2087.)*
EAST BUTTE COPPER MINING CO.—(V. 112, p. ^56, 1148, 1521,
2087.)
EAST COAST FISHERIES CO.—(V. 112, p.
66,165,1621,1871,1981.)
In Ohio in
Ohio (natural) Gas Co. and the two
artificial gas companies
in Cleveland known as the Cleveland Gas Light
k Coke Co. (esfcab. 1846) and the People's Gas Lt. Co. (estab. 1868).
Owns
about 2,000 miles of distributing pipes, supplying gas exclusively to a popu¬
lation of upwards of 1,000,000 people In Cleveland and 31 other cities and
towns; also owns 403 miles of pipe lines, conveying natural gas from West
Virginia to the distributing systems in the above-mentioned municipalities.
V". 95, p. 1334; V. 90, p. 421.
Controlled by former Standard OI1 Interests,
EAST OHIO
OAS CO.—ORGANIZATION.—Incorporated
1910 by consolidation of the original East
V. 90, p. 3756.
Owns the common stock of Akron Gas
under lease without assuming any of
Co. and operates the property
its liabilities.
A rental of $20,000 is
the $400,000
The lease ex-
i>roperty this doesthe consent of 75% of themoneydebenture stockliens upon
ng. but without
not apply to purchase total
mortgages or outstand-
paid annually which is equivalent to paying the Interest on
5% bonds of the Akron Co. due Oct. 1 1947 (V. 60, p. 234).
purchased, or collateral loans for cash advances in the ordinary
course of business, provided they do not run more than three years.
The
voting deb. stock has equal voting rights with the common stock.
Sires Oct. 1 The Akron bondholders have waived all sinking fund provisions.
lessee.
1947 but may be canceled at any time on 6 months notice by
property
stock has no voting privileges except that (a) in
case of default fen* 6 mos. in the payment of any dividend thereon, the voting
and non-voting debenture stockholders will have the sole right of voting
until the company shall pay all accrued dividends on said debenture stock;
and (b) in case of the net earnings in any cal. year amounting to less than 9%
on the debenture stock, then the debenture stockholders of both classes will
have equal voting rights with the common until the net earnings for some
future year equaf9% on the debenture stock. V. 101, p. 610, 848,1275.
BONDS—The 10-year gold bonds of 1921 are redeemable, in whole or
The non-voting deb.
le
STOCK.—On Dec. 6 1917 the auth. capital stock was increased from
$20,000,000 ($10,000,000 being 7% cum. pref.) to $45,000,000, the Ohio
P. U. Commission having sanctioned the issue of $20,000,000 additional
common stock, the proceeds to be used to retire $16,821,000 First Mtge.
5% bonds (V. 92, p. 661) called for payment at 105 and Interest at the
New York Trust Co. on Jan. 1 1918. V. 105, p. 2546, 2187, 1806.
The
Akron Gas Co.$400,000 5s, due Oct. 11947 (V.60, p.234) and $390,300 deb.
^ due 1921.V. 95- p. 682, 969. 1334: V. 90. p. 364. 421: V. 97. p. 1118.
EARNINGS.—For cal. year 1919: Gross, $15,891,416; net earnings,
$5,235,152.
Sart, at 110 and int. prior to May ending Aprilredemption price thereafter
ecreasing 1% each succeeding year 1 1922, the 30.—V.112, p. 2087. 2195.
1917.
1918.
1919/
6
18
18
18
36.3 1 RedCross 2 RedCross
1920.
10)4
DIVIDENDS (%)— 1916.
Regular, cash
Extra, cash
do
Extras,
do
com.
Anglo-French
stock
7)4
...
.......
5
REPORT.—For cal. year 1920, in
1920.
Gross from sales..
p.
........
32
V. 112,
p.
15,058,022
11,620,953
47,221,368
Profit and loss items
De&.494,790Cr.6.062,039De&.4,123,293
Debenture stock divs.(6%)3,813,425
3,648,822
3,648,822
Common stock div
Rate per cent
Divs. on sub. co. stocks.
Divs. pd. in com. stock.
Disc, on deben. stock...
6,267,747
10,593,756
15,302,092
(10 H%)
(18%)
(26%)
841
4,524,135
49,112,953
Cr.145,709
3,648,822
30,015,642
.
(51%)
6,664
584* V,
109*.
p,
1370.)
See "El. Ry. Sec." and V. 109.
253, 300; V. 89, p. 1225; application to list,
V. 80, p. 1477; V. 93. p.
1728; V. 97, p. 731; V. 98, p. 1540.
J
.
The suit brought by the United States against the company under the
Sherman Anti-Trust law was settled and a decree in accordance with the
settlement entered in United States District Court of Feb. 1 1921.
The
,
decree requires the company to
dispose of two of its camera
manufacturing
plants, one of its brands of photographic paper and four of its brands of
dry plates within two years.—V. 112, p. 566.
V. 102, p. 440, 1063, 1438,
1900; V. 101, p. 696; V. 96, p. 1705; V. 97, p. 731; V. 99. p. 1676; V. 100,
suit
24,146,319
15,587,534
1755; V. 105, p. 2098; V. 106, p. 90; V. 107, p. 1671.
Patent
settled, V. 102, p. 1062; V. 98, p. 841, 1002, 1159.
,
%
Extra Dividends on Common Stock (Additional to 10% per an.. 2)4% Q--J-)
Year— *06. *07. '08. '09. '10-T3. *14. '15. *10. '17. '18. T9. '20. 1921.
68,300,891
44,154,571
Extra %
...
3,440,414
71,741,304
p.
p.
...
2,039,482
Surplus for the year. _def2,081,556
Accumulated surplus... 69,659,748
2187,'2540* V, 108,
EASTERN POWER & LIGHT CORP.
1795,
V. 77, p.
1917
1918
$93,983,292S105,437,*932$329,121.*608$269,842*465
Net after amortization..
1806,
EASTMAN KODAK CO. (OF NEW JERSEY).—ORGANIZATION.—
Incorporated in New Jersey Oct. 24 1901 as an amalgamation per plan in
V. 73, p. 1114, of various operating companies, of which it owns practically
all the stock.
See list V. 67, p. 1160, 1207; V. 69, p. 387; V. 75, p. 735. 613;
1139, showed:
1919.
1^20,
EASTERN SS. LINES.—(V. 112, p. 66, 165.)
..—
bonds..abt. 57.7
U.S. Liberty bonds
du Pont Chemical Co.
pref. stock (par $5).
...
Paid in 1921: Mar. 15 2%.
p,
1 UtcLW.Wk.
—
-
...
OFFICERS.—President, Irenee S. du Pont; Chairman of Board, Pierre S.
du Pont; Vice-Presidents, Frank L. Connable, J. A. Haskell, Charles L.
Patterson, H. G. Haskellj Frank G. Tallman, Lamont du Pont, H. F.
Brown, R. R. M. Carpenter, William Coyne, John J. Raskob, F. W. Pickard, Charles A. Meade, W. S. Carpenter Jr., J. B. D. Edge, A. Felix du
Pont, William O. Spruance and Charles A. Patterson; Secretary, Alexis I.
du Pont; Treasurer, Walter S. Carpenter Jr.
DIRECTORS.—F. D. Brown, H. F. Brown, R. R. M. Carpenter,
Walter S. Carpenter Jr., Frank L. Connable, William Coyne, A. Felix
du Pont, Alexis I. du Pont, Eugene du Pont, Eugene E. Du Pont. H. F.
du Pont, Irenee du Pont, Lamont du Pont, P. S. du Pont {Chairman),
J. B. D. Edge, H. G. Haskell, J. A. Haskell, J. P. Laffey, C. A. Meade
7H
10
15
20
Extras in 1921: Jan.,
30 y'ly
Year.
1920
1919
20
50
40
656,
EDISON
30
text
35
,
incl. sub. cos. (V. 112, p. 2195), showed:
Common
Balance,
Total
Dividends.
Surplus.
Surplus.
(40)$7,865,840$10,330,429 $52,339,336
(40)$7,819,110110,137,136 $42,008,907
-$14,051,969 $369,942 (45) $8,792,280 $4,889,747 $31,871,771
Depredation.)
(6%).
$18,566,211 $369,942
$18,326,188 $369,942
1918
x Figures are after deducting war taxes.
Pres., George Eastman.
Office, Rochester,
566,
35
40
2)4%: June, 10%; July, 5%.
REPORT for calendar year 1920
Calendar
x Net (after
Pref. Divs.
„
N. Y.—(V. 112, p. 474,
1621.)
ELECTRIC
ILLUMINATING CO. OF
BOSTON—ORGANI¬
Tallman.—(V. 112, p. 376. 937, 1139, 1148, 2087, 2195.)
In 1886.
Does entire electrlo-llght business of city.
V. 88. p. 454: V. 88. o. 1132: V. 94. d. 1190: V. 95. n. 422.
DIVIDENDS— (1903-06.
1907 to 1909.
1910.
1911 to May 1921
Since 1901
%U0 yrly.
lOrly.Alext.
11J4
12p.a. (3% Q.-F)
E. I. DU PONT DE NEMOURS POWDER CO.—ORGANIZATION
Incorporated in N. J. May 19 1903. V. 85, p. 342; V. 92, p. 1704; V. 94,
p.11380, 1029, 1698; V. 95, p. 51, 113, 969; V. 97, p. 1901.
On Oct. 11915
the (E. I.) du Pont de Nemours A Co. purchased this company.
NOTES.—The $10,000,000 5-year 5% notes (callable at 104) and the
$3,000,000 6% notes of 1917, $3,000,000 7% notes of 1918 and $6,000,000
6% notes of 1919 must be secured by any future mortgage.
V. 104, p. 563;
V. 105, p. 2275. 2187; V. 107, p. 295, 406; V. 108, p. 2632.
Chas. A. Patterson, Ohas. L. Patterson, F. W. Pickard. H. M. Pierce;
M. R. Poucher, John J. Raskob, Charles L. Reese, W. O. Spruance, F. G.
ZATION.—Incorp.
V. 81. d. 157:
.
MAY, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on page 6]
STOCKS
Ten-yr
s
Date
Par
Amount
Rate
When
Value
Outstanding
%
Payable
None
100
of notes
100
1919
Too'&c
19,680,700
100 &c
1917
500 &c
5,000,000
9,592,500
5,960,500
1921
100 &c
1,000
Empire Steel St Iron—Preferred (p & d) stock 6% cum
Endicott-Johnson Corp—Common stock $21.000,000
Pref (a & d) 7% cum (sk fd) call 125 auth $15,000.000
10n
50
100
Year ending June 30 1920 in Y. Ill, p. 2226. showed:
Net.
Other Inc. Int.&Tax. Div.{\2%) Bal.Sur.
Oross.
1919-20
1918-19
13,920,606
11,435,709
9,623,606
9,235,778
1917-18
1916-17
$
$
$
$
$
6,578,028
83,385 2,644,585 2,703,360 1,313,467
5,147,977
81,508 2,078,860 2,703,360
447,265
4,792,335
89,606 1,643,843 2,703,360
534,738
4,851,467 197,967 1,429,624 2,703.066
916,744
OFFICERS,—Pres., Charles L, Edgar' Treas,, T, K, Cummins,
Office.
70 State St„ Boston, Mass,—(V, 110, p. 170, 565, 767, 1092* V. Ill, p,
77, 1569.)
MAGNETO
In
Manufactures
high-tension magnetos, used as standard equipment by
over 125 motor truck, tractor, automobile and machinery manufacturing
companies.
V, 109, p. 681.
STOCK.—Pref. stock callable
as a whole or in part at 110 on 90 days'
Sinking fund, 10% of net earnings after taxes and div. began
See offering in V. 109, p. 681, 1702.
Initial div. of l%%
quar. paid Feb. 2 1920; same amount paid quar. to May 2 1921.
notice.
Jan. 1 1920.
Years June 30—
1914-15.
1916-17.
1915-16.
1917-18.
1918-19.
Gross sales
$1,127,723 $1,105,914 $1,501,216 $3,425,112 $3,834,080
Net, before taxes
194,444
329,251
345,816
894,076
866.848
Net sales for the six months ending June 30 1920 were $2,316,482, as
against $1,665,681 for the six months ending Dec, 31 1919,
Orders and
contracts on hand July I 1920 aggregate $3,442,380, as against $2,978,362
on Jan, 1 1920,
DIRECTORS,—Joseph A,
Franklin
Bower, C, J, Gleason, Jacob S, Earlee,
S, Jerome (Treas,), Raymond E, Jones, George E, Matthies,
Moses, Latham R, Reed, William N, Shaw (President),—(V,
Horace A.
112, p, 376,)
ELECTRIC BOND & SHARE CO.- •(V. 112, p. 2087.)
ELECTRIC
STORAOE
BATTERY
in 1888 in N. J.
76,850; V. 105, p.1212.)
STOCK, &c,—Stock authorized, $30,000,000 (increased from $18,000,000
In Jtily 1920)' outstanding pref,, 1% cum,, $87,500' convertible Into com,
stock, share for share* common stock, $19,979,325,
Stockholders of record
July 17 1920 were given the right to subscribe at par to new stock equal
to 20% of holdings,
V, 110, p, 2660,
After 1% on pref,, com, and pref,
share
equally,
On com, 1901 to 1907, 5% yearly 1908, 34%' 1909,
3H%: 1910 to 1918,4%; 1919, 5%; Jan. 1920 to July 1920paid 2^ % quar.
Oct. 1920 to Apr. 1921, 3% quar.
EARNINGS,—Statements for calendar year 1919, in Y, 110, p, 1181'
for 5 mos, ended May 31 1920 in V, 111, p, 696,
Cal.
Oross
Net
Other
Res. for
Year—
Sales.
Earnings.
Income.
Fed. Tax.
Balance,
Divs.Paid
Surplus.
1919 —$6,000,853 $4,239,791 $561,021x$l,817,010 $1,074,198 $2,891,208
1918
4,825,757
3.662,224
287,149
649,968
3,299,406
1917
3.140.560
2.220,613
257,269
450,000
649,967
1.377,916
x For year 1918.
Total p. & 1. surplus Dec. 31 1919, $13,347,215.
—
—
Pres., Herbert Lloyd; Sec. & Treas., Walter G. Henderson. Philadelphia.
Office, Allegheny Ave. and 19th St,, Philadelphia,—(V, 111, p, 193, 298,
696. 899, 1087. 2525.)
ELK BASIN PETROLEUM CORP.—(V. 112, p. 376,1981.)
ELK
HORN
COAL CORPORATION.—ORGANIZATION .—Incorp.
plan In V. 101, p. 1716: V. 102, p. 348; and
In W. Va.. Nov. 18 1915, per
took over the properties and business of Elk Horn Fuel Co. (V. 98, p.
Elk Horn Mining Corp. (V. 98, p. 1618), and Mineral Fuel Co. (V.
1762),
96.
p.
1427.) Nineteen mines have been opened. See V. 103, p. 668. Stocks owned,
V. 104, p. 1706.
Official statement to N. Y. Stock Exchange in May 1917
on listing of stock and notes was given at length in Y. 104, p. 2140.
The
assets on Dec. 31 1920 Included 19,765.47 shares of stock of Consolidation
Coal Co.
CAPITAL STOCK IN $50 SHARES.—Authorized
(a) pref. (0% and
participating; red. at 564), $6,600,000, all out, with sole voting power
during any default on full year's dividend,
(b) Common, $22,000,000 (0%
and partic.); outstanding, $12,000,000.
V. 101, p. 1710; V. 104. p. 2140.
Pref. dividend No. 1. June 15 1916 to Dec. 1918: 3% semi-ann. (J. & D.);
March 1919 to June 1921, 14% quar.
Com. div., 2%, June, Sept. and
Dec. 1918, March, June and Sept. 1919.14% each; none since to May 1921
NOTES.—The 10-year sinking fund notes of 1915 (V. 101, p. 1716;
V. 102, p. 348) are secured by mortgage on the entire property.
Sink¬
ing fund, 2 cents per ton on all coal mined, commencing April 1 1916
(after April 1 1919, 3 cents per ton), will purchase or call and retire the
notes at not exceeding 105 and int.
Convertible at option of holder Into
common stock of the company at par.
Through retirement in 1918 of
$4,000,000 underlying bonds, these notes are secured by a first mortgage
(closed) on the entire property owned, appraised in part, at over $18.000,000, subject only to $417,000 6% bonds below mentioned, on a small
portion of property.
Additionally secured by pledge of 19,765.47 shares
of $100 each Consolidation Coal Co. stock.
See also V. 108, p. 483, 584.
V. 106, p. 2013; V. 104, p. 2140.
The only underlying liens are $417,000
Mineral Fuel Co. 1st s. f. 30-year 5s, due May 1 1943, excl. $58,000 on
Dec. 31 1920 held in sinking fund.
V. 101, p. 1716; V. 96, p. 1427; Y. 97,
p.731.1507.
REPORT.—For calendar year 1920, in V. 112, p. 1310, shows:
1920.
1919.
1918.
Earnings (allsources)
Net, after taxes, &c
Interest, sink, fund, &c..
Preferred dividends (6%)
Common dividends
Balance,
surplus
$5,374,050
$2,829,542
395",576
395,589
(4K %)539,924
$1,009,165def. 870,912
$135,809
484,313
419,726
—
OFFICERS.—Chairman, C.
1917.
$4,497.1|1
4141631
107,960
393363
$1,329,835
Fairmont, W. Va.; Pies.,
M. Stewart, Ashland, Ky.; V.-P.
Y. office, 67 Wall St.
(V. 112,
W. Watson,
Seorge W. Fleming, N. Y.; Sec., J. W.
k Treas., J. F. Caulfleld. N. Y.
N.
). 1287, 1310.
$4,951,921
1,712,650
360,703
101,302
395,558
(6)719,278
1,815,787
411,033
m
alien
Nov 1 1920 1 Yk
&
6 g
June 15 1939
J June 15 1924
Checks mailed
&
O June 15 1924
M
&
N
F
&
A Feb
8
6 g
6 g
May
1
1926
1 1927
New York City
do
«
do
do
do
do
do
7
M &
S Sept. 1 1923
New York
10,000,000
&
J Jan
1 1921 3% Checks mailed
2,500,000 6 in 1920 J
texi
16,890,000 See
Q—J
Apr 1 1921 2H Columbia Trust Co, NY
7
14,550,000
Q—J
do
Apr 1 1921 1H
do
No
bonds".
DIVIDENDS.—On
pref., 1*4%, paid Nov. 1 1912 to Aug. 11914. then
till Nov. 1918, 1%%; Feb. 1919 to Nov. 1920, 1%%\ Feb. 1921 div.
omitted (V. 112, p. 165); overdue accumulated pref. div. Feb. 1 1921.
none
29M%.
REPORT.—For year ending Oct. 31 1920, in V. 112, p. 748, showed;
Total
x Net
DeprePreferred
Balance,
Sales.
Earnings.
Interest, ciation.
Dividends.
Survlus
T9-'20-$18,645,700 $1,500,226 $453,087 $180,436(7%)$851,935
$20,768
18- 1916,913.124 1,843,699
339,444
181,835 (7%) 851,935
470,484
17-T8- 14.554,065
1.746,445
296,331
167.845 (1H) 212.984 1.069.285
x After
deducting Federal taxes.
Pres., O. S. Brantingham, Rockford, 111.—(V. 112, p. 165, 748.)
EMPIRE OAS & FUEL CO.
(DEL.).—ORGANIZATION.—Incorp. In
Delaware June 1919.
Owns leaseholds on 22,000 acres of fully proven oil
lands in the Eldorado and Augusta fields, and Elbing Peabody fields, Green¬
wood County, Kan.; producing oil wells in operation in April
1920, 1,750;
dally production over 40,000 bbls.
With its subsidiaries also owns lease¬
holds on over 3,000,000 acres of other oil and gas lands in other parts of
Kansas, Texas and Oklahoma.
Subsidiaries operate a natural gas system
or about 1,300 miles of trunk lines covering portions of Oklahoma, Kansas
and Southwestern Missouri.
As to new pipe lines, &c., see V. 109.
p. 75.
The company and its subsidiaries produced about 13,600,000 bbls. of
crude oil in 1920.
Its natural gas subsidiaries are transporting and market¬
ing about 100.000,000
cu.
ft. of gas daily.
STOCK,—Preferred, auth,, $500,000,000* outstanding, $17,837,900, of
Cities Service Co,
Common, authorized and
outstanding, $62,500,000* all owned by Cities Service Co,
which $15,000,000 owned by
CO.—Incorp.
Owns basic patents for storage batteries.—(Y. 69, p.
Checks
Tool Co., Chicago Heights, Ill.;Newton Wagon Co., Batavia, 111.; American
Drill Co., Marion, Ind.; Rockford Engine Co., Rockford, 111.
V. 95, p. 363
In Aug. 1918 purchased Osborne line of harvesting machines
(but not the
Auburn plant) from International Harvester Co.
See V. 107, p. 700 608
who also acquired control of the remaining
stock.
•
Where Interest and
Dividends are Payable
STOCK.—As to pref. stock, see V. 95. p. 363; V. 97, p. 1507.
CORP.—ORGANIZATION.—Incorp.
New York, Aug. 19 1919, and succeeded to company of same name, organ¬
ized in N. Y. in 1910.
Three-quarters of the stock of the latter company
was seized by the Alien
Property Custodian and sold in Feb. 1919 to G. E.
Matthies of Seymour Conn,
Places
EMERSON-BRANTINGHAM CO.—ORGANIZATION .—Owns at Rooklord, 111., (a) farm machinery plants located on 160 aores of land.
(6) Plant
for manufacture of carriages and wagons for country trade (business
Estab¬
lished in 1852); (c) Harvester works; (d) gas engine works.
In 1912 pur¬
chased the Geiser Mfg. Co. (established 1869), with plants at
Waynesboro
and Greencastle, Pa.; Reeves & Co., Columbus, Ind.; Gas Traction
Co
(V. 94, p. 1189), Minneapolis, Minn., and Winnipeg, Can., and La Crosse
EDMUNDS & JONES CORP.—(V. 112, p. 748, 1287.)
EISEMANN
May 2 '21
Apr 1 1921
text
Pledged
1920
1916
_
$
Maturity
See text
1919
Baxxxc
Year—
Q—F
Q—J
and
text
10.132,500
12.170.500 See
100
100
Baxxxkc*&r
(closed) guar call (text)
Ba.k.c*
Empire Refining Co 1st M & coll tr g gu s f d call (text) gzzk
Empire Oil Purchasing Co. participating notes guaranty
EARNINGS
Last Dividend
"
1.000
1913
do
100
175
Sept 11'19
\)i
6,600.000 6 in 1920 Q—M 10 June 10'21
1M
&
6 g
D Dec 1 1925
6.435.000
Guaranty Tr Co *N Y*'
5
417,000
May 1 1943
Fidelity Trust Co, Bait
50
1915
& coll trust mtge
call.
12,000,000 See
50
f g conv notes call 105 & lot any int date..
do
New
30,000 sh.
7
$1,500,000
19,979,325 10 H '20
$100
Mineral Fuel Co 1st M sinking fund
Emerson-Bran tin gham Co—Common stock $30.000,000
Preferred stock (a & d) 7% cum red 115 (text)
Empire Gas & Fuel Co—Pref stock 8% cum non votings...
Ref & coll trust mtge $150,000,000 gold sk fd call
„_Eq
Bond secured convertible notes call..
Ba.xxx__kc*&r
First
BONDS
Bonds
Eisemann Magneto Corp.—Com. stock 30,000 shares..
Pref. stock 7% cumul. s. f. red. 110 auth. $1,500,000
Electric Storage Battery—Stock ($87,500 is preferred—text).
Elk Horn Coal Corp—
Com stk 6 % &partlc$22,000,000 ($10,000,000) cony
Pref stock 6% and participating red at 50 4
AND
BONDS.—The First Mtge. & Coll. Trust 6s are guaranteed, p. &
sink, fund
I., by
by Cities Service Co.
Semi-annual sinking fund (M. & N.)
$1,000,000 annually.
This issue is redeemable, all or part,
until May 1 1920, at 102 and int.; thereafter to May 1 1923 at 103 and
int.,
and thereafter until maturity at 104 and Int.
V. 102, p. 1542.
The EmDire Refining Co. First M. & Coll. Trust s. f. 6s are guaranteed,
p., I. & s. f.#
by Empire Gas & Fuel Go. sink, fund retires over $1,000,000 annually.
These 6s are callable at 104 till Feb. 1921; then till Feb. 1 1924 at 106;
thereafter at 108.
V. 104, p. 365.
The 0%
Bond Secured
Convertible
notes are convertible
at
any
time, par tor par, Into 8% non-voting Cumulat'vepref. stock of company,
except that this privilege expires 60 days prior to date of maturity, and is
called 3 weeks after date of the first publication of notice of call.
Callable
at any time at not exceeding 102.
Monthly sinking fund beginning Oct. 1
retires
over
I. 6% bonds, due 1939.
i919, 1 % of outstanding notes. Secured by deposit of First & Ref. & Coll.
V. 108, p. 2436.
The 8% notes are callable all or part at any time at such premium as
to June 15 1924, but not exceeding 103.
Sinking fund requires the retirement each month, beginning April 1 1921
of 1 % of the principal amount of notes outstanding.
Convertible at option of holder, par for par, into the 8% non-voting
Cumul. Pref. stock of Empire Gas & Fuel Co., except that conversion
privilege will expire sixty days prior to maturity, and in the event of a call
of notes for redemption, such conversion privilege will expire three weeks
after date of first publication of notice of call.
Secured by pledge with trustee of First & Ref. Mtge. & Coll. Trust
Sinking Fund 6% bonds of 1919, equal to twice the principal amount of
the notes outstanding.
V. 112, p. 748.
Of these $150,000,000 First & Ref. & Collat. bonds, in addition to
amounts pledged as
aforesaid, $14,732,000 are reserved to refund the
underlying bonds, $11,152,000 have been deposited i nsinking fund, $42,909,000 may be issued for proper corporate purposes, and the balance
($40,076,000) may be issued at the rate of $50 in bonds for each $100 of
additional expenditures made for capital account In the various properties
would make the yield basis 7%
or
for deposit in the sinking fund.
Empire Oil Purchasing Co. guaranteed notes.
V. 112,
p.
749.
EARNINGS.—Combined
earnings (inter, co. sales eliminated) year
July 31 1920: Gross, $66,848,495; net, $21,142,094; interest, $2,114,022; balance, $19,028,072.
President. Henry L. Doherty, New York.
(V. 112, p. 748, 937.) :
ended
EMPIRE STEEL & I RON CO.—Incorp. In N. J. In 1899.
V. 68. p. 524.
V. 85, p. 1211.
Preferred, see table.
Common stock, $1,189,260.
PREF. DIVS.
T3.-T5. '16. '17. '18/19. '20. '21.
nil
8 154 10
6
0
text
reducing same to 32%; July 1919 to
2309; V. 107. p. 2379.
'08. '09. TO. '11, *12.
Co.'sdata __% 4H
0
5
1
2
Jan. 1919, 3%, and 2% on accum.,
Jan. 1921 paid 3% s. a.
Calendar Years—
Gross
income
Interest, deprec., &c
Net
ncome
Res. for Fed. taxes &
con.
Invent, adjust
Preferred dividends
V. 105. p.
1920.
1919.
1918.
1917.
$1,051,359
406,948
$851,789
389,681
$1,207,029
212,528
$1,800,251
182,070
$644,411
75,000
123,350
150,000
$462,108
58,000
$994,503
510,000
$1,618,175
600,000
150,000
250,000
387",566
Balance, surplus
$296,061
$254,108
$234,503
$630,675
Pres., Leonard Peckitt, Catasauqua, Pa.; Sec. & Treas., J. S. Stillman,
Oatasauqua, Pa.
N. Y. office. 30 Church St.—(V. 112, p. 853.)
ENDICOTT
JOHNSON
CORP.—ORGANIZATION.—Incorp.
In
Business, principally manufacturing leather and
medium-priced staple shoes and footwear.
Plants at Endicott and Johnson
City, N. Y., together with tanneries, shoe factories.
Number of employees
about 12,000.
Average output, about 70,000 pairs of shoes daily.
New York Mar. 31 1919.
STOCK.—Both classes of stock listed on the N. Y. Stock Exchange
In
(V. 108. p. 2633).
Listed on Boston Stock Exchange in Sept.
Annually beginning Feb. 1 1921 the company shall acquire out of the
surplusprofits 3 % or the largest amount of Pref. stock at any time outstand¬
ing.
No mortgage without 75% of each class of stock.
Pref. stock has
June 1919.
1919.
Par
(The) 8 onitable Illuminating Gat Light Co of Phlla—Com stk
Pref (a A d) stock 6% (divs paid regularly since org.) ...
First mtge gold red 105 for sinking fund of $l24,000yearly
eureka Pipe Doe—Stock $5,000,000
Fairbanks Co.—Common stock $1,500,000
1st Pref. (a. A d.) 8% cum. stock, call. 100, s.f. $1,000,000(2d) Pref. (a. A a.) 8% cum. stk., call. 110 $2,000,000—*
Payable
100
25
100
100
100
100
100
100
100
10
100
100
None
pref stock 6% cum $10,000,000 call
power
with the
See text
100
increased from $14,900,000 to $16,390,000
dividend on June 10 j.920.
Dividends.*-An initial dividend of 1 U% on both the pref,
and com. stock
paid July 11919; Oct. 1 1919, IU% each; Jan. 1 1920,1H% on pref.
April 1 1920, IH% on pref. and
2H% on com.
On June 10 1920 common shareholders received a stock
dividend of 10%, July 1 1920 to April 1 1921 paid quar., 1H% on pref.,
and 2 H % on common.
_
.
919.
*£20.
376, 847, 937,1028,1871.)
Gas Co.
(THE) EQUITABLE ILLUMINATING GAS LIGHT CO. OF PHILA¬
DELPHIA.—Formed in 1898 to take assignment of the lease of the gas
works of Philadelphia from the city to The United Gas Improvement
and to operate the same.
See V. 84, p. 1304; V. 84, p. 1370; V. 66, p.
Co.,
436.
DIVIDENDS.—
1898.
1899.
1900.
1901 to 1920.
-*
4
6
6
6 yearly
Sinking fund to retire stock m 1928.—(V. 96, p. 656; V. 101, p. 1970;
V. 105, p. 2187; V. 100, p. 90, 924; V. 107, p. 406,2292; V. 110, p. 304.)
Common
-
(THE) EUREKA PIPE LINE CO.—ORGANIZATION, AO.—Incorp.
1890 In W. Va.
Owns pipe line In W. Va.
Formerly controlled by
Standard Oil Co, of New Jersey, but segregated in 1911,
Suit to test
In
validity of West Virginia Transportation Tax Act, V. Ill, p. 1569; V. 112,
p. 749..
Stock. $5,000,000; par, $100.
Div. 10% paid quar. from May 1912 to
Feb. 1914. May A Aug.. 8%; Nov. 1914 to May 1918, tncl.. 24% (6% qu.).
Aug. and Nov, 1918 and Feb. 1919,5% quar.; May, Aug. & Nov. 1919, and
Feb. 1920, 4%; May 1920 to May 1921, 3% quar.
REPORT,—For cal.
year
1919.
1918.
1917.
Profits for year.........
Dividends
BaL,
paid—
sur. or
$543,218
$362,334
$848,713
$1,111,883
(13%)650,001 (17)849,999(22)1100,000(24)1200,003
deficit.-def.$106,783 def$487,665 def$251,287
do
1%
Q—F
May 2 1921 1H Checks mailed
do
Q—F
May 2 1921 1H
Bankers Trust Co, N T
M
8c
N Nov 1 1924
text
Jan 5 192115
Q—J 15 Apr 15 1921 1
Q—F
May 15'21 II
Q—F
May 2 '21 $2.50
Q—F
May 2 1921 1M New York
F
A
A Aug 1 1921-25
Bankers Trust Co. NY
text
7
I*
def$88,120
Pres., Forrest M. Towl; Vice-Pres. A Treas., E. R. Shepa/d; Vice-Pres.,
Alan T. Towl.
Office, Oil City, Pa.—(V. 112, p. 66.474, 566,749.
to
6g
1917.
v
May 2 1921.
On com.,
'
on
year's operations over divs.
g!d) Pref. and Com. stock listed on N. Y. Stock Exchange in 1919.
Net
Oross
Earnings Cal. Years—
1919-.1918—
1917—.——
Sales.
——$25,028,058
16,234,492
16,158,930
——... —
11,774.610
Profit.
$7,205,500
4,573,081
3,563,277
3.352,158
Net after
Taxes.
$618,076
699,378
554,364
945,775
OFFICERS,—Chairman of board, W, Storrs Wells* Pres., Harry T,
Peters; 1st V,-P, & Sec,, J, R, Peters; Treas., J, A, Wells,
New York
office, 416 Broome St,—(V, 112, p, 566.)
FAMOUS
PLAYERS-LASKY
CORP.,
N.
Y.—ORGANIZATION.—
Incorp. in New York, July 19 1916, as a holding and operating company
with the right to produce, lease and exhibit motion pictures,
operate thea¬
tres. Ac.Acquired the Famous Players Film Co., the Jesse L.
Lasky
Paramount Pictures Corp. and its subsi¬
Corp.
Owns stock in several other
companies doing business in the United States and foreign countries.
Has
Feature Play Co., Inc.,
diaries
and
the
Artcraft
Pictures
V. 109, p.
487.
On July 2 1919 acquired the Charles Frohman Inc.
V. 109
176, 480.
See V. 109. p. 1708.
Other acquisitions, V. 110, p. 469!
Distribution contract with the Danish-American Film Co.
V. 109, p. 1795
Famous Players Canadian Corp., Ltd., V. 110, p. 364, 469.
p.
STOCK.—Stockholders Nov. 10 1919, authorized
Issue of $20,000,000
8% Gumul. Convertible Pref. stock (par $100) and increased the Common
stock from 200.000 shares to 450,000 shares (no par value).
The Common stockholders of record Nov. 13 1919, were given the right
to subscribe at par ($100) for $10,000,000 Pref. up to Nov. 28, in the ratio
of one share of pref. for each two shares of common held.
Of the 250 000
shares of additional common stock about 182,000 shares were set aside to
the following;
William Farrell A Son, Robt. Gordon A Son, Inc., Hencken
Co., Thedford Eltz Coal Co., O. H. Perry & Son, inc.,
Trimmer A Sons, Inc., Scranton & Wyoming Coal*
Co., Matthew Wilson Coal Co., Joseph Gordon, Inc., Ac., representing
an annual tonnage of about 3,000,000.—V. 108, p. 2126, 2633.
A
Wiilenbrook
Pattison A Brown, S
STOCK.—Pref. stock may be redeemed on any div. date at 120 and div.
No mortgage without the consent of % of the Pref. stock.
Offering in
Y. 108, p. 2120, 2633.
An initial quarterly dividend of $2.33 (being for
4 months' period) was paid Oct. 1 1919 on the pref. stock.
Jan. 1920 to.
April 1921 paid 1H% quar.
President, Thomas F, Farrell.
MINING
FEDERAL
an
Nov. 301920.
Redeemable on 60 days* notice (also for sinking fund) at 120.
Convertible at par at any time into common stock at $110 per share up to
Nov. 301920, at $115 to Nov. 301921 and at $120 thereafter.
No mortgage
without the consent of 2-3 of the outstanding pref. stock.
Each share
487, 1612.
-(V. Ill,
SMELTING
&
p.
2525.)
CO.—ORGANIZATION,—Incor-
In 1905 Amer. Smelters Securities Co. (Amer. Smelting A Refining Co.)
acquired about $3,000,000 common stock. V. 93, p. 1728; Y. 99. p. 52.
DIVS. P08. '09. *10. *11. *12. '13. '14. *15. *10. '17.
0
1H
0
0
0
0
0
0
0
0
Preferred Un full to Dec. 1911 6
0
5
4
4K
7
In 1921: On pref., March 15, 1%; June 15, 1%.
Common (
V. 108,
,
p. 2245, 2633; V. 109
o
*18. '19. 20.
0
7
—
.
3#
6
REPORT.—Year 1920, In V. 112, p. 1403. showed:
1919.
I
Cal. Years—
1920.
$2,474,8041 Taxes
—
1,417,356(Charges-----
'21See
text
1919.
$52,518286,841
$51,442
505,729
Dividends— (6%)719,167(3^)44947*
Netincome-$2,071,014
Balance, surplus
$1,057,508|
———
—
$794,676
$268,671'
Chairman & Pres., Francis H. Brownell; Sec., J. L. Martin; Treas.,F. O.
Drudling.
Office, 120 B'way, N. Y.—(V. 112, p. 853, 1403.)
FEDERAL SUGAR REFINING CO.—Incorporated In New Jersey June 1
1902; reincorporated *n New York May 3 1907.
Y. 84, p. 1117. Plant at
Yonkers, N. Y.t capacity In 1919 10,000 bbls. dally.
Process, V. 74, p.
1858. Pref. stock is subject to call at 125 and convertible into com. stock
at par.
Description, V. 84, 0. 691.
Div. on common stock 1912 to Oct.
(Q.-J.); none since to June 15 1917, when IU% was paid;
,
p. a.).
An extra cash dividend of 5%
"
Q.-M.16 to Q.-lT.l.
lend period changed in Feb. 1919 from<
Dividend previously paid in March was paid Feb. 1
V. 104, p. 2121.
In Nov. 1919 sold $3,000,000 Five-Year 6%
notes to refund $2,000,000 5 % notes due Jan. 11920; s. fd. to retire $334,000'
1919.
yearly will begin In 1922.
V. 109. p. 1895.
In Dec. 1917 offered to buy In
pref. shares at 95%.
V. 105, p. 2187;
106, p. 1347.
In April 1919 reduced the outstanding pref. stock in
that way from $3,322,800 to about $1,000,000.
Auth. capital stock! wasincreased from $10,000,000 to $20,000,000 in June 1920.
V. 110. p.
2295, 2571.
On Sept. 20 1919 the balance sheet showed:
Cash, $2,288,290; accts.
receivable, &c., $3,784,229; inventory, $2,540,457; accts. payable, $1,585,490; bills payable, $4,660,000; notes due, 1920, $2,000,000.
V,
108, p. 2625.
V.
ANNUAL REPORT.—For year end. May 31 1919, V. 108, p. 2625:
Years end.—
Profit.
Interest. Taxes,die. Pref. (6). Common. Surplus.
May 31 1919-$1,654,291 $328,001 *$218,909 $199,368 $584,257 $323,756
May 25 1918- 2,172,945
225,427*1,003,002 199,368 403,720 341,428May 26 1917- 3,227,464
363,629
40,331
199,368
—2,624,136
♦
Includes income and excess profits taxes.
Pres., Claus A. Sprockets; V.-P., Lewis L. Clarke: Treas., Pierre J.
Smith; Sec., A. H. Piatt.
Office, 1 Wall St., N. Y.—(V. 112, p. 749.)
^
FENSLAND
OIL CO.—(V. 112, p. 1171.)
FIRESTONE TIRE & RUBBER CO.—ORGANIZATION.—Incorp.
in W. Va. in Sept. 1900; In 1910 reincorporated In Ohio.
Manufactures
automobile and truck tires, other rubber products and accessories and steel*
rims.
Plants are located at Akron, Ohio, Hamilton, Ont., and Singapore,
Straits Settlements.
STOCK.—In June 1919 increased the outstanding 1st Pref. stock to
$10,000,000.
V. 108, p. 2531; V. 109, p. 375.
In August 1919 (V. 109.
681) increased the auth. issue of common stock to $25,000,000 and auth .
also $40,000,000 of 2d Pref. stock, of which $10,000,000 was sold.
See
p.
0ffDivs8'on' 1st pref.}lH%
Q.-J. 15; 2d pref., 1|£% Q.-F. 15.
Dividend Record on Common Shares (Par Value $10).
1910.
1911.
1912.
1913.
5
7
10
On Jan. 51921 paid 15%;
5
provide for the conversion not only of the $10,000,000 pref. stock issued, but
also of the unissued pref. stock.
V. 109, p. 1612, 1703, 1894.
Sinking
fund of 3% of maximum issued pref. stock, less converted amount, began
shall be entitled to .one vote.
23~760
$2,109,260
(WILLIAM) FARRELL & SONS, INC.—ORGANIZATION.—Incurp.
Jan. 29 1919 in New York.
Acquired assets, good will Ac. of coal dealers
in the Boroughs of Manhattan and the Bronx, N. Y. City, including with
the
general of its pictures. foreign concerns for to N. Y. Stock Exchange in
ution contracts1 with
Official statement substantially exclusive distri-
of pref.
above. $3,166,471
—-
IVS. *94. *95. '97.'99-'01.'02-'03.'04-'06. '07-'08. '107*11. *12. '13. '18.
Com.% 18
9
10
15 9 0 8 y'ly. 10 y'ly.12 y'ly. 12
4
10
8 text
Dividends of 2% have been regularly paid quarterly on the 1st Pref.
from June 71918 to date.
On the (2d) Pref. stock 2% quarterly from Nov.
27 1907 to April 1 1914, incl.
The accumulated divs. from April 1 1914 to
April 11918 were adjusted by a Com. stock div. (20%) issued June 7 1918,
the (2d) Pref. stockholders receiving one share of Com. stock for each $100
accrued.
Cash divs. were resumed July 1 1918 and have been paid quar¬
terly to date.
On Dec. 1 1918 paid a 4% stock div. on the Common stock.
The Comstockholders of Nov. 25 were also given the right to subscribe to 5,265
shares of (2d) Pref. stock at par ($100) and 5,265 shares of Com. at par ($25)
to the extent of 10% of their holdings.
(V. 106, p. 2100).
1920-———
as
OFFICERS.—Adolph Zukor, Pres.; Jesse L. Lasky, 1st V.-P.; Frank A.
Garbutt, V.-P.; Elek J. Ludvigh, Sec. & Treas.—(V. 112, p. 165, 1139,
1167, 1287.)
2563).
STOCK.—Sinking fund for the 1st Pref. beginning in 1918 10% of net
earnings after all taxes and divs. on both First Pref. and Pref. stock.
If,
in any year such 10% is less than $50,000 all available earnings
up to
$50,000 shall be set aside for the sinking fund.
If such 10% is more than
$100,000 only $100,000 shall be set aside.
See also under divs. below.
,
-
$4,132,985
1,000,000
999,965
_
Balance
Oper. expenses 2,188,356
p.
1919.
1920.
and distributing agents for manufacturers.
Has the exclusive right until
1929 to sell the Fairbanks Scale throughout the entire world, except Can¬
ada and the western part of the United States.
Plants located at Rome.
(V. 106,
amount paid quar
in 1921; Jan., $2; April, $2; July, $2.
(including in 1920 14 months'
operations in England and Australia)
$7,826,159
Less prov. for Fed'l income & excess profits taxes.
2,231,553
Dividends paid on common stock during year
1,671,246
Dividends on preferred stock (8%)
—741,000
Dividends of subsidiary cos. (to outside interests)
15,889
Cal. Years—
1920.
Total receipts-$4,259,370
Manufactures valves, trucks and barrows; also acts as selling
Y.
1921
text,
1920.
$8
1919.
Operating profit
acquire the business, Ac. of the Fairbanks Co., of N. Y., and
Ga. and Binghamton, N.
1918.
REPORT.—For cal. year 1920, in V. 112, p. 1167, showed:
FAIRBANKS CO.—ORGANIZATION.—Incorp. in New Jersey. June
11 1891, to
other cities.
June 15 *21
Sorated under district. Delaware Junep. 733; V. 96. p. 1086; V. 97, mines !o>
loenr d'Alene laws of Idaho. V. 93. 25 1903.
Owns silver-lead p. 1424.
1920, in V, 112, p. 566, showed:
1920.
New York Trust Co
Jan 15 1909 1H Checks mailed
';
-
$74,970,102 $62,713,039
EQUITABLE OAS LIGHT CO. (Of N. Y.).—See Consol
Apr" 1 ~1921 ~ 1
Q—J
Q""- M
!
$10
0
$5.50
Initial div, of 2% on new pref, paid Feb, 1 1920* same
11,703,364 10,218,019
OFFICERS.—Pres., George F. Johnson; Sec., M. E. Page.—(V. 112.
p.
July 1 1921 $2
May 2 1921 2%
Q—J
Q—P
text
Recent Dividends—
Common
was
——
"ollp" May l"l92l"2%
Q—J
Apr 1 1921 2%
lOin 1920
3,473,800
5,000,000
900,000
4,000,000
and 2M% regular and 4% extra on com,;
REPORT for 1920 in V. 112, p. 847. showed;
Calendar Years—
Gross sales.
Net profits (before taxes, &c.)
—
text
8 in 1920
8 in 1920
6 In 1919
6 g
3,000,000
3,750,000 See text
6
10,000,000
10,000,000
1,000
1919
stock.
Outstanding com. stock was
through payment of a 10% stock
common
Deo
See text
Serial notes.
equal voting
text
130.000 shs
3,000.000
6,000,000
12,000,000 See
6.707.900 See
1,000
1919
Dividends are Payable
Dec 15'20
6% Philadelphia
do
4s
D Dec 15 *20 3%
6 in 1920 J
New York Trust Co. If IF
J
5 e
&
1 1928
J Jan
13 In 20 See text May 2 19213% Checks mailed
See
None
208,403 shs $8 Ini *20
100
8
9,650,000
None
Second
pref stock 7 % cum $40,000,000 call 110 sk fd 1921
Ftsher Body Corp.— Com. stk. 600,000 shares part v t c.
Pref (a & d) stock 7% cum auth $6,000,000 s fd call 120^
Ser gold notes $5,000,000 due $1,000,000 yly call.Ba.xxxc*
Nat Plate Glass Co cum pref stock.——
....
$3,125,000
3,125,000
2,694,000
6,000,000
1,500,000
1,000,000
2,000,000
Places Where Interest and
Last Dividend
and Maturity
When
%
$1,000
(Willalm)
First
Bate
Outstanding
1898
Fairmont Coal Co—See Consolidation Coai Co
Famous Playert-Lasky Corp—Com stock 450,00(1 shares —
Preferred (a A d) stock 8% cum conv s f auth $20,000,000
Farrell & Sons, Inc—Common 130,000 shares..
Preferred (a A d) stock 7% cum call 120 auth $3,000,000—
Federal Mining & Smelting~-Common stock $10,000,000—Preferred (a & d) 7% cumulative $20.(X)0,000 authorized
Federal Sugar Refining—Common stock.—.
Preferred (a <fc d) stock 0% cum red oonv (text)
Five year gold notes $3,000,000 call 101 s fd text.Ba.xxxc*
Firestone Tire & Rubber Co-—Com stock $25,000,000—-
Amount
Value
Date
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on page 6]
[VOL. 112.
STOCKS AND BONDS
INDUSTRIAL
176
1915. 1916. 1917. 1918. 1919. 1920.
12
16
20
40
60
60
60
March 1921 div. was omitted. V. 112, p. 1028*
1914.
ended Oct. 31 1920 in V. Ill, p. 2516.
1916-17.
1917-18.
1918-19.
1919-20.
$61,587,219 $75,801,507 $91,078,514 $114,980,969
5,051,798
8,356,230
9,306,978
9,396,912*
REPORT.—For year
Sales
Profits
—
after
dep
-
OFFICERS.—Pres., H. 8. Firestone: Sec., S. G. Carkhuff; Treas., J. G,
Offices at Akron, O., and 1871 Broadway, N. Y.—(V« lllt-
Robertson.
p.
993, 2233, 2428, 2516; V. 112, p. 1028, 1148.)
MAY, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
[For abbreviations, &c.,
see
STOCKS AND BONDS
Date
Par
Amount
Rate
When
Bonds
notes on page 6]
Value
Outstanding
%
Payable
Fisher Body Ohio Co—Pref (a & d 8% cum s f call 110
Fisk Rubber Co—Common stock $20,000.000
First pref (a A d) stock 7% cum $15,000,000 call 110 sk fd
Second pref 7% cum $7,000,000 cony till Not 1 1923
Free port Texas Co—Stock 500,000 shares—...
Galena Signal Oil Co.—Common $22,000,000 Auth
Preferred 8%
New pref (a A d) 8% cum $8,000,000 call 115
Convertible debentures $6,000,000 auth red text
Ba
Subsidiary Co., entire $6,000,000 stock owned—
Galena Signal Oil of Tex bds (also $1,000,000 in treasury)
$100 $10,000,000 See
....
100
100
100
........
__
1920
100A1,000
1918
1,000
FISHEMBODY CORPORATION (OF N. Y.).—ORGANIZATION.—
Organized in N. Y. State Aug. 1916.
The original Fisher Body Co. was
formed In 1909, and in Oct. 1920 its business as developed by tne
present
corporation had grown to a gross volume of between $80,000,000 and $100,000,000 per year.
The Corporation operates 25 plants in United States
and Canada.
The Fisher Body Ohio Co., a controlling interest in which is held by
Fisher Body Co., was organized in Oct. 1919 to build an additional plant
2,800.000
period of five years, commencing Oct. 1 1919,
not less than 2-3 of the net earnings, after taxes, interest, and Pref. stock
divs. and sinking fund payments, shall be paid in dividends to the Common
stockholders, until they shall have received In each fiscal year, divs. at
the rate of not less than $10 per share per annum; (c) to increase the num¬
ber of directors from five to fourteen.
V. 109, p. 1612.
stock
were
sold to the General Motors
Corp. at $92 per share and deposited under a new voting trust agreement,
together with such stock as stockholders deposited and 35,000 shares
stock
in the old voting trust, which was dissolved.
The balance
of the stock in the old voting trust (about 68,000 shares) became free stock
so that
approximately 166,000 shares of common stock is outstanding in
of
the hands of the public.
The Genral Motors Corp. also entered into an agreement to order and
purchase from the company substantially all of the automobile bodies
required by it which the company can furnish on a cost plus 17.6% basis.
Voting Trustees.—Fred J. Fisher, Louis Mendelssohn, W. 0. Durant
and Pierre 8. du Pont.
Bankers Trust Co., depositary.
A plan for the exchange of common stock of the Fisher Body Ohio Co. for
common stock of Fisher Body
Corp. was declared operative in May 1921.
Under this plan (as modified) the holder of each share of the Ohio Co.
stock was entitled to $3 in cash and one-fifth of a share of common stock in
the parent corporation.
The Fisher Body Corp. also guarantees the pay¬
ment of current quarterly divs.
upon the preferred stock of the Ohio Co.
down to and including the dividend payable July 1 1922.
It also agrees to
pay on or before that date the accrued unpaid dividends on the prefererd
stock for 1920.
Holders of the Ohio common had until May 15 1921 to
deposit their stock for exchange, at which time the privilege expired.
V. 112, p. 2088.
Pref.'stock, par $100, auth., $6,000,000; Issued, $5,000,000; retired to
April 30 1920, $786,500.
Callable at 120 A divs.; sink, fund beginning in
Aug. 1915, 15% of net earnings, after deducting pref. divs.
See V. 103,
p. 581, 760, 1510.
Pref. dividends paid Nov. 1 1916 to May 1921, 7%
per annum (1 % % quar.).
Initial dividend of $2 50 per share on com. paid
Feb. 2 1920; same amount paid quarterly to May 2 1921.
NOTES.—In July 1919 sold $5,000,000 6% Serial Gold notes, due $1,000,000, payable on Aug. 1 from 1921 to 1925, incl., but callable till Aug. 11921
at
102H; till Aug. 1922 at 102; till Aug. 1923 at 101H; till Aug. 1924 at
No mortgage while these notes are outstanding.
101: thereafter at 10014*
—V. 109, p. 480. 1370.
REPORT.—Year end. Apr. 30 1920, in V. 110,
April 30 Years— *
1919-20.
Net income after Federal taxes, Ac__ 4,367,480
Preferred dividends (7% per annum).
296,336
Common dividends ($5)_.
2,500,000
p.
$2,854,481
326,305
-
...
Balance, surplus...
$1,571,144
$1,298,750 $2,528,176
Earnings for 3 mos. ended July 31 1920: Net. $3,673,642; interest,
$283,299; Fed. taxes, Ac., $1,168,790; surplus, $2,221,553.
OFFICERS.—Pres., Fred J. Fisher; V.-P., Chas. T. Fisher; Chairman,
Aaron Mendelson.
Compt., William Butler.—(V. 112, p. 165, 262.)
Louis Mendelssohn; Treas., Louis Mendelssohn; Sec.,
FISHER
BODY
OHIO
CO.—ORGANIZATION.—InJorp.
in
Ohio
about Oct.
terest
18 1919.
Fisher Body Corporation
owns a
controlling in¬
and is building at Cleveland, O., an additional plant for building
automobile bodies.
Total floor space about 1,500,000 sq. ft.; to employ
upwards of 7,000 men.
Fisher Body Corporation agrees to turn over to
The Fisher Body Ohio Co., all of the business necessary for operation to
capacity.
See V.
June 1921.
109, p.
1612.
Plant expected to be in
operation in
CAPITALIZATION.—Auth. and issued, 8% Cum. Sinking Fund Pref.
stock (par $100), $10,000,000; Com. stock (no par value) 100,000 shs.
No
bonds.
No mortgages without consent of % of Pref. stock outstanding.
Sinking fund beginning Jan. 11923 4% of largest amount of Pref. stock at
any time outstanding.
Exchange of com. stock of Fisher Body Corp.,
see that company above.
Pres., Fred J. Fisher; V.-Pres., O. F. FLher;
Treas., L. Mendelssohn; Sec., A. Mendelson; Compt., L. R. Scafe.—(Y
112, p. 166, 262.)
FISK
1912.
RUBBER CO.—ORGANIZATION, Ac —Incorp. in Mass. in
Manufactures pneumatic and solid tires for automobiles and
trucks,
also for motorcycles and
bicycles, Ac.
Plant located at Chicopee Falls'
Mass., has a floor space of 20 acres (V. 108, p. 2436; V. 109, p. 778).
Own
a controlling interest in Federal Rubber Co.
(V. 108, p. 2126; V. 109, p*
1182), which owns a factory having a floor space of 5 acres at Cudahy, Wis*
STOCK.—The stockholders on June 101919 voted to retire the First Pref.
and First Pref. Convertible stock and to issue (1) $15,000,000 (new) First
Pref. stock; (2) increase the then outstanding Second Pref. stock by an
additional amount of $2,500,000 and (3) to issue $1,000,000 additional
common,
making the authorized capital stock to consist of $15,000,000
First Pref. 7% cum., $7,000,000 2d Pref. 7% cum., conv. into common
1 1923, and $20,000,000 common stock.
V. 108, p. 2436; V.
Nov.
until
109,
B* 581. equal new15% of net profits after payment of has an annual Pref.
non-voting First Preferred stock taxes and First sinkig fund The
to
dividends.
The 2d Pref. is convertible Into common par for par until
Nov. 1 1923.
The 1st Pref. is callable all or any
part at 110 at any time
on 60 days' notice, and when that has all been redeemed the 2d Pref. will
be redeemable in like manner.
Offering of Fisk Rubber Co. Bldg. bonds, V. 110,
p.
2079.
DIVIDENDS.—Initial div.'of 3% quar. on com. stock paid April 11920.
July 1 1920, 3%; Oct. 1 1920, 3%; Jan. 1921 div. passed.
V. Ill, p. 2428.
See text
Oct 1 1920
3% Bankers Trust Go, N Y
Feb 1'21 l%% New Eng Tr Co, Boston
Mar 15 21 1H Bankers Trust
Nov 28 1919 $1
Co, N Y
Sept 30 '18,1H Checks mailed
Mar 31 *21,2%
do
Mar 31 '21. 2%
do
Apr 1 1930
O July 11933
Houston, Tex
1512:
1917.
$3,578,484
962,028
1,055,489
1,253,426
946,750
549,913
972,850
*835,049
*589,659
475,689
Balance, surplus
def$431,606
$2,104,118
$970,444 $1,580,037
Retirement of preferred stock,
x Inventory written off, Ac.
Pres., H. T. Dunn, Chicopee Falls, Mass.—(V. 112, p. 1403,1512.)
*
FLEISCHMANN CO. (THE).—(V. 112, p. 467.)
FOLLANSBEE BROS. CO.—(V.
112,
p.
749 )
FORD MOTOR CO.—(V. 112, p. 262,474,656,749,1621,1745, 2088.
FRANKLIN (H. H.) MFG. CO.—(V. 112,
p.
262,749,1287.1621,1738.)
FRANKLIN PROCESS CO.—(V. 112, p. 376.)
FREEPORT
TEXAS
CO.—ORGANIZATION.—Incorp.
Sept.
30
1913, in Delaware.
A holding company controlling through ownership of
Freeport Sulphur Co. ($200,000); Freeport Terminal Co.
($10,000); Freeport Town Site Co. ($20,000); Freeport Light, Water A
Ice Co. ($5,000); Freeport Sulphur Transportation Co. ($25,000); Freeport Gas Co. ($50,000); South Texas Stevedore Co. ($5,000).
AJso owns
one-half of the capital stock and $79,000 bonds of Houston A Brazos Valley
By., and 500,000 francs (of a total of 2,000,000) of Societe Pour L'lmportation et al Vente des Soufres Americains.
Owns entire $250,000 stock of
La Espiiela Oil Co., which was organized in Mexico.
Full description in
V. 108, p. 1517.
Operations were suspended on April 11921.
V. 112, p. 1621.
STOCK.—On May 7 1917 the authorized share capital was increased to
500,000 shares (no par value) which were issued in exchange for 35.000
shares (par $100) at the rate of 14 2-7 shares of new stock for each share of
old stock/ V. 104, p. 1804.
No bonds.
Stock listed on N. Y. Stock Ex¬
change in June 1919.
V. 108, p. 2633.
LATEST DIV.—(On capital of $100 par).
Nov. 4 1915 to May 151927
Incl., 10% quarterly; on capital no par value (per share); Aug. 15 1917, $3
Nov. 15 1917, Feb. 15 and May 15 1918. $1.50 each: May 20 1919, $2
Aug. 20 1919, $1; Nov. 28 1919, $1; Feb. 1920 dividend passed.
EARNINGS.—For fiscal year ending Nov. 30 1920, in V. 112, p. 1029:
Nov. 30 Years—
1919-20.
1918-19.
1917-18.
entire stock:
Net
$4,806,310
--
$1,443,213
$1,473,336
1,602,417
79,193
4,934,950
Interest, depletion, depreciation, Ac-
1,462,834
175,718
1,326,098
898,386
1,001,910
x
profit
-
Total Income
Federal taxes
Dividends.
Deficit
-
«,
1
1
38,982
—
------
840,070
864,013
215,232 sr.8,069,036
Profit and loss surplus.
4,481,601
4,599,561
6,984,444
x After cost of sales and expenses.
For 3 months ended Feb. 28 1921: Gross sales, $845,406; net earnings
.......
(after deducting $45,011 interest, but before deprec., depletion and taxes),
$148,351.
V. 112, p. .1982.
mOFFICERS.—Pres., Eric P. Swenson; V.-P., E. E. Dickinson; Treas.,
S. M. Swenson.
New York office, 61 Broadway.—(V. 112, p. 262, 1029,
1621, 1982.)
«
GALENA-SIGNAL
2491, 2566, showed;
1918-19.
1917-18.
$1,603,289
304,539
Payable
235,700
Preferred dividends—,
1,086,981
Common dividends,
1,474,758
Deductions
x2,669,117
a
The 300,000 shares of additional
are
$3,760,279
STOCK.—The stockholders voted Nov. 6 1919 (a) to Increase the
stock from 200,000 shares (no par value) to 500,000 shares (no
value); (b) to amend certain of the articles or incorporation and add
for
Where Interest aw
Dividends
$4,956,685
par
that
A
Places
Maturity
$5,034,950
common
article
A
and
ANNUAL REPORT.—For calendar year 1920, in V. 112, p.
Calendar Years—
1920.
1919.
1918.
1,500,000 sq. ft. of floor space.
See that co. below.
V. 109, p. 1612,
480; V. 103, p. 1690,1893.
Owns all of the common stock of the National
Plate Glass Co.
Contract with National Plate Glass Co., Y. 110, p. 565.
new
6
Net profits
Federal taxes
with
a
Last Dividend
text
Q—J
Text
15,496.000 See text
7
14,500.000
Q—F
7
268,000
Q—M
Text
500,000 sh
16.000.000 See text
8
2.000,000
Q—M
8
4.000.000
Q—M
7
A
A
O
6,000,000
25
100
100
None
177
OIL
«
„
™
CO.—ORGANIZATION.
™
AO.—Incorp. in
Formerly
Penn. In 1901.
Deals In railroad lubricating and signal oils.
controlled by Standard Oil Co. but segregated in 1911.
In 1918 arranged to acquire control, subject to $2,800,000
_
.
6% bonds,
important interests in the Humble, Tex., oil field. Including 42 wells
(daily capacity, 3,000 bbls.j, with 24-mile pipe line, and remaining 50%
of the $1,500,000 stock of the Petroleum Refining Co. (name changed to
Galena Signal Oil of Texas), owning refinery at Houston.
V. 106, p. 1233;
of
In connection with these acquisitions
the shareholders voted May 211919
$12,000,000 to $20,000,000
creating $8,000,000 of 8% cumulative preferred (a. & d.) stock
(callable at 115 and divs.), ranking as to assets and dividends ahead or all
other stock except present $2,000,000 8% cum. pref. stock. Par of all $100.
The plan involved (1) the issuing of $2,000,000 of such new pref. stock
and $4,000,000 of the increased common stock, in part payment for afore*
said acquisitions; while (2) $4,000,000 of such new pref. stock was offered
for subscription to all stockholders of record June 29 1919 at par.
V, 107,
to increase the authorized common stock from
and
on
85
It was the Intention of the board that the remaining $4,000,000 of new
stock and $2,000,000 of new pref. stock should for the present re¬
main in the Treasury, unissued.
V. 106. p. 1233, 2563; V. 110, P* 968.
"American Republics Corporation Co.,
Ac., see V. 109, p. 1181.1275.
p
common
Stock—Debentures.—The stockholders in
May 1920 approved the plan
$100)
to increase the common stock from $20,000,000 to $22,000,000 (par
7% convertible debenture bonds, convertible into
common stock, par for par.
Stockholders were given the right to subscribe
to the debentures at the rate of $100 in principal sum thereof for every
3 2-3 shares held at $93 04 for each $100 of debentures.
Debentures are
redeemable at 110 during 1920, at 109 during 1921, the premium decreasing
1 % each subsequent year until maturity.
Convertible into common stock
at rate of $100 in par value of stock for each $100 in principal of debenture
bonds.
Compare V. Ill, p. 696.
SUB. CO.—BONDS.—A new company with title "Petroleum Refining
Co. of Texas" (in 1919 name changed to Galena Signal Oil Co. of Texas)
took over the properties acquired in Texas and operates the same as
a
separate organization.
This new company issued $6,000,000 capital
stock (increased to $7,500,000 in 1920) all owned by the Galena Signal Oil
Co.; also $3,800,000 6% bonds dated July 1 1918, $1,000,000 of which are
and to issue $6,000,000
in the treasury.
Galena Pipe
.
„
_
„
,
±
Line Co. (of Texas), Galena Navigation Co., Societe
Anonyme des Huiles Galena (of France), Galena-Signal Oil Co., Ltd. (of
London, Eng.). Galena-Signal Oil Co-Jof Brazil), Galena-Signal Oil Co
<of Canada).
V. 110, p. 968, 1294; V. Ill, p. 2143.
COMMON DIVS.—fl912.
1913.
1914 to July 1918.
Sept. 30 1918
Cash (%).
I
16
14
12%(3%quar.J)
ltf%quafThe quarterly dividend paid Sept. 30 1918 was only 1H % owing to in¬
creased expenses and other war conditions.
V. 107, p. 1104. The June
1918 quarterly 3% was paid In July.
InNov. 1918 action on the December
dividend on the common shares was postponed because of exceptional con¬
ditions prevailing.
No divs. paid on com. since Sept. 1918.
V. 107, p.2101
Com. stock, $4,000,000 was distributed May 15 1913 as a 50% stock div.
OFFICERS.—Pres.. L. J. Drake; V.-Pres.. L. F. Jordan. J. E. Linahen.
W. A. Trubee, W. J. Walsh; Sec., J. French Miller; Treas., Wm. P. Wescott,
N. Y.
Office, Franklin, Pa.—(V. 112, p. 1022.)
178
Date
&c.,
see
notes on page 6]
Gaston, Williams & Wigmore—Stock autb 300,000 shares..
Serial notes due $1,000,000 yly all or any call at 101 yG.c*
General Amer Tank Car Corp—Common stock
Par
Amount
Rate
When
Last
Value
Outstanding
%
Payable
and
Maturity
None
300.000sh
$1,000,000
240,000 shs.
100
5,031,300
-
1 415.000
mi
500
3.4OO.U00
7.057 800
100
G.c*
2,568,500
2,000,000
1.640,000
19,822.900
16,333.300
Ac
100
110
1,000
1911
J00
General Chemical Co—Common stock, $20.000,000auth.—
Preferred (a A d) 6% cumulative. $20,000,000 auth
General Cigar Co, Inc—Common stock $25,000,000.,
Preferred stock (p & d) 7% cumulative $5.000.000
Debent pref (a A d) stk "B" 7% cum $5,000,000 call 110
ak fd convert into common $ for $
mailed
do
do
Apr 1 1921, IX
Q—J
5
4,000,000
Ac
100
600
-
1st M int and sinking fund guar
do
See text
100A1000
1915
1
19*21
1 '21 $1 50 Checks
J Jan
&
5
100
1920
See text
New York City
text See text
A&OlS Apr 15
J
$3
7
100
Preferred (a A d) stock 7%
1st A Ref M g red 105 also tor sink fd
Kolb Bakery pref stock divs guar red
do
6 g
None
Preferred (a A d) stock—
F Car trust certificates—See text.
General Asphalt—Common stock
See
text
$1 .000
1916
,
Pref (a A d) stk 5% cum convert (text) call 110 & div—c.
Sinking fund convert gold bonds red (text).Ba.kxxxc*
Debentures gold red par sink fund
FP.kc*
General Baking Co—Common stock ($10,000,000)
....
Places Where Interest and
Dividends are Payable
Dividend
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations,
[Vol. 112.
STOCKS AND BONDS
INDUSTRIAL
100
100
100
18.104.000
5.000,000
100
J une" T ~2
\~1K
Checks mailed
Bankers Trust Co, N Y
1*1930
Co'ePhiladelpbia.Pa off
Apr 1 1925
See text Apr 1 1921 IH
7
Apr 1 *21
IX Checks mailed
Q—J
J
A
D June 1 1936
Harvey Flsk A Sons, N Y
Q—J
Apr 1 1921 IX Checks mailed
Harvey Fisk A Sons, N V
J
5
A
J Jan 1 1937
25 Broad at. New York
See
Dec 1 1920 2%
text
G—M
do
do
6
Jan 3 1921 IX
6 in 1920
May 2 1921 )X Check from Go's Office
do
dc
7 in 1920
June 1 1921 IX
Q—M
8 g
J
&
6 g
text
A
A
D Dec
O
?«
4,620,800
7
Q—J
New York
July 1 1921 IX
'KM
OASTON. WILLIAMS S WIGMORE, INC., N. Y.—Incorp. to N. Y,
10 1914, exporters and importers and does a shipping business
owning, operating and controlling the Globe Line (Gaston, Williams &
e
See V. 102, p. 1438, 1900.
Wigmore SS. Com.)
Official statement to
State Oct.
July and Oct. 1920 paid 1 % % quar. and X % on account of accumulations,
reducing the latter to 20%.
On Dec. 31 1920 paid 1 % % quar. aM 20% in
?ref. stock at1 par on accountandaccumulations. otV. 111, on 2526. On Apr.
1921 paid
of an initial div.
X%
pref.
IX% p. common stock.
on
V. 112, p. 1149.
Controls Kolb Bakery Co., guaranteeing
pref. stock and int. and sink, fund
adverse
exchange situation,
extra to aid
Ac.
109, p. 1623).
July ^6 1917, 25c.
V. 104, p. 2556; V. 103, p. 64, 147;
(V.
Red Cross contributions.
V.
108. p. 1613.
In May 1918 a
$1,131,500
*
"substantial*' amount of the stock was acquired by the
Guaranty Trust Oo.-Ohase Nat. Bank interests through Horn blower A
Weeks giving them. It is understood, with previous holdings a working
control.
Messrs. Williams and Wigmore then retired from the board
V. 106, p. 2125.
On Mar. 16 1921 Van Vechten Veeder and Benjamin B.
Odell were appointed receivers.
V. 112, p. 1148.
•
on
dividends on its $2,000,000 7%
V. 94, p. 211.
$1,680,000 5% bonds.
BONDS.—Authorized bond, debt, $5,000,000, of which $1,300,000 re¬
served for future extensions.
See V. 93, p. 232.
Of the $3,700,000 issued,
were on
Apr. 1 1921 redeemed and canceled by sinking fund.
1920 in V. 112, p. 1021, showed:
1919.
1918.
1917.
x$870,606 x$l,004,955
*$964,020
Bal., after pref. divs
x485,963
x455,856
x222,212
*298,108
x After providing for Federal taxes.
* Before deducting war income and
excess profits taxes.
Pres., William Deininger; V.-Ps., F. H. Frazier and If. R. Shepard;
Sec. & Treas., G. E. Fawcett.
Office, 45 East 17th St., N. Y.—(V. 112,
p. 937, 1021, 1149.)
REPORT.—Report for
year
Yrs. end.Dec.25 toDec.31
1920.
Net income.
x$l,086,226
,
REPORT.—Year ending Apr. 30
1920 in V, 111, p. 586; 6 mos. ended
Oct. 31 1920 in V. 112, p. 847.
1919-20.
1918-19.
1917-18.
df.$1,041,170
$1,262,402
$1,298,487
.—($X) 150,000($3X) 1050,000($4X) 1275,000
Netincome
Dividends declared
def.$1,191,170
sur.$212,402
sur.$23,487
Profit and loss
def.$4.931,197 sur.$l ,620.938 sur.fl,432.418
Balance sheet as of Oct. 31 1920 (V. 112, p. 847) showed profit and loss
deficit of $9,824,260.
Directors.—Charles H. Sabin, John W. Prentiss, G. M. Dahl, Henry S.
Kimball, Charles A. Corliss, George A. Gaston, Jas. J. Phelan.
Office.
100 W. 41st St., N. Y.—(V. 112, p. 749, 847, 853, 1148.)
Balance,
sur.
def
or
GENERAL
AMERICAN TANK CAR CORP.—Incorp. in N. Y.
July 5 1916.
A holding company owning thejentire capital stock ($3,000,
000) of General Amer. Tank Car Corp., incorp. in W. Va.
The latter com
pany owns the entire capital stock of the General American Mfg. Co.,
General American Car Co., General American Tank Car Corp. of La. and
the Railway Equipment Securities Co.
CAPITAL
STOCK.—Authorized,
400,000 shares Common of
no
par
GENERAL CHEMICAL CO.—ORGANIZATION. Ac.—Incorp. hi
on Feb. 1$ 1899 as a consolidation.
V. 68.D. 571; V. 74, p. 1093; V.
73, p. 724; V. 89 j?. 351, 414; V. 91. p. 656; V. 96, p. 1427; V. 97. p. 295.
7. 99. p. 1835; v. 100, p. 57.
In 1915 began making baking powder.
7.101, p. 925.
Purchased substantially all the assets of the Weetsrn
Chemical Mfg. Co. of Denver, in 1919.
The 20th anniversary report
Issued in 1919 (V. 199, p. 1790) gives full particulars as to plants, products,
financial record, Ac.
Addition to Cleveland plant, V. Ill, p. 299.
The Allied Chemical & Dye Corp. was organized in Sept. 1920 as a con¬
solidation of the General Chemical Co., Semet-Solvay Co., The Solvay
Process Co., The Barrett Co. and National Aniline & Chemical Co., Inc.
For details as to exchange of stock, Ac., see statement of Allied Chemical A
Dye Corp. above.
■
ST. Y.
Extra cash—
110. p.
2090.
Common
DIVIDENDS.—On common: April 1 1919 to April 1 1920, $1 50 quar.;
May 1 and July 1 1920, 50 cents each; Jan. 1 1921, $1 50.
CAR
TRUST
CERTIFICATES.—See
listings
application to N. Y.
do
Calendar Years—
Net earnings
1920.
Depreciation and Federal tax
Surplus
x
EARNINGS.—Results
GENERAL ASPHALT CO.—ORGANIZATION.—Incorp. in N. J. on
May 19 1903 as suooessor of the Nat. Asphalt Co.* per plan V. 75. p. 188
V. 76. p.1145; V.79. n 101.2586: V. 80, p.2218: V.82 o.1208.
Subsidiary companies own extensive asphalt deposits and petroleum
lands in Trinidad and Venezuela and gilsonlte
deposits In Colorado and
Utah; operate Important mining, refining and shipping properties, pro¬
ducing a great variety of asphaltic and other materials for paving, roofing
painting, Ac., and conduct a paving business.
*08.
*09 to *16.
*17.
18.
$21,000,000 pref. stock had been disposed of and the voluntary conversion
641.100.
Compare V.
on
109. p.
778, 984, 1613, 1703, 1796, 1895; V.
7^,
Dec. 7 1920 approved the plan (a) providing for an
issue of $4,000,000 8% 10-year sinking fund Convertible gold bonds.
(5) Increasing the authorized Common stock by $4,000,000 to provide for the
conversion of the bonds.
Compare V. Ill, p. 2143, 2233.
Convertible Bonds.—Convertible after Jan.
par.
Redeemable in amounts of $500,000
1
1923 into
common
stock at
multiples thereof at 105 on
or before Dec. 1 1926. at 104 on or before Dec. 1
1927, at 103 on or before
Dec. 1 1928, at 102 on or before Dec. 1 1929, and at 101 thereafter prior to
maturity.
V. Ill, p. 2525.
DEBENTURES.—The $2,000,000 10-year 6% debentures of 1915 have
a
sinking fund of at least 10% of net earnings; $585,000 redeemed to
Dec. 31 1920.
V. 100, p. 815,1171,1352,1670; V. 108, p. 2126; V. Ill, p.
or
On Dec. 31 1920 had outstanding $350,000 collateral loans.
Bonds of subsidiary companies: New Trinidad Lake Asphalt Co. deb. 6s.
31 1920, $1,340,055; out¬
due Jan. 1 1930. $1,940,000; redeemed to Dec.
standing, $599,945.
V. 70,
p.
993; V. 71, p. 555; V. 79, p. 104.
REPORT.—Oal. year 1920, in V. 112, p. 1864, showed:
Total
Net
Other
Interest,
Pref. Div.
Income.
Profits.
Income.
Depr.,&c.
(5%).
1920— .$15,014,470 $2,845,097
1919— 14,755,610
2,311,370
1918—
13,287,492
2,323,483
Balance,
Surplus.
$78,133 $1,457,841 $379,956 $1,085,433
99,749
1,098,722
578,948
733 449
104,540
1,264,816
652,705
510^02
OFFICERS.—Pres., Arthur W. Sewall; V.-P., O. W. Bayliss, A. L.
Robinson and Frank Seamans; Treas., Ira Atkinson: Sec., E. Robert Riter;
Office, Land Title Bldg., Philadelphia.—(V. 112, p;
Aud., F. A. Warren.
392.
1149.)
GENERAL BAKING CO., NEW YORK.—ORGANIZATION.—In¬
in N. Y. State in 1911 to unite the baking business of 20 concerns
(located in 15 different cities).
Govt, regulation of business, V. 105, p. 1944, 2459; V. 106, p. 1233.
corp.
DIVIDENDS.—On pref.: In 1912, 5M%\ 1913 to Jan. 1919. 4%
April, July and Oct.
1919 and Jan. 1920 paid l%% quar.
p.
a.
In April
in cash; Sept.,
Ill, p.
1918.
$4,851,933
$6,462,148
684,374
991,152
155,000
1,500,000
684,373
991,152
315,000
1,500,000
$1,521,407, $2,971,623
—$3,012,660
1374, 1087.
,
1917.
1916.
$9,580,260 $11,394,686 $12,286,826
912.498
912.498
912,498
(8)1,321,536 (8)1,258,608
(6)786,636
(2^)412.970(7^)1179915(20)2622,000
1,011,027
1,260,291
98.572
195,133
905,433
1,547,275
1,650,016
1,724,330
919,499
849,230
Net profits
$5,615,004
Pref. dividend (6%)
912,498
Common dividend—_(8%) 1,321,536
Extra common divs.
Chgd. off, Ac., acct
Profit-sharing, Ac
Reserve for
deprec'n
Reserved for taxes
245,000
2,550,000
1,800,000
Balance, surplus
$474,927
$1,398,635
$4,320,160
preferred
of the pref. into com. ($150 com. for $100 pref.) had resulted in increasing
the outstanding com. to $23,458,900 with a reduction in the pref. to $7.-
—
for 9 months ending Sept. 30:
1920.
1919.
REPORT.—For 1919 In V. 110, p. 557.
1919.
1918.
Total profit
The accumulated
JJ* 2580»
The stockholders
5
15/
Balance, surplus
*19to June'2l
/ 4
2
2
5 yly
5
5
lKcmar(Q-M)
dividend?, 9M%. were discharged In full In cash,
1% in 1910 and balance, 8X%» through payment in 1915 of debentures
issued representing same.
STOCK.—In
Dec. 1920 all of the original $10,000,000 common and
On
6
8
-120
6
5
—
V.
*07.
6
5
Total profits
-$6,805,814
Preferred dividends (4H%)
734,994
Common dividends (6%)
1,123,160
Insurance fund
135,000
Rea've for taxes, plant, Sec., deprec'n. 1,800,000
$1,733,804 $2,274,976
1 *06.
6
5
—/
10
stock..
6
6
-I
5
2% in cash; Dec., 2% in cash.
Before depreciation.
OFFICERS.—Pres., Max Epstein; V.-P., Henry E. Butler and.!David
Copland; Treas., M. P. Kraffmilier; Sec., Elias Mayer.
N. Y. office,
17 Battery Place.—(V. 112, p, 1403, 1621, 2088.)
DIVIDENDS.—
4 yrly.
-
1919.
$2,941,328 $3,558,885
1,207,524 xl,383,909
reserve
%
In 1920: March, 2% in cash; May, 20% in stock; June, 2%
Stock^xch.^V. 110, p. 2090; also V. 110, p. 1853; V. Ill, p. 1954,
REPORT.—For 1920, in V, 112, p. 1403, showed:
—
19. '20.
8
8
L.
2M 24*. See
5
0
text.
*06-'09. '10. *11, '12. *13. *14. *15. *16. *17. *18.
LATE DIVS.
In V.
*
parjfor $2,622,000 (20%) new common stock (see dividends
below). (V. 103, p. 1891; V. 104, p. 366.)
$10,000,000 7% cumulative preferred, par $100; outstanding,
240,000 shares common and $5,031,300 preferred.
Pref. stock provisions
value and
permitted
8TOCK.—Common snareholders of record Dec. 30 1916 were
to subscribe at
$5,374,054
and loss surplus Dec. 31 1919, $16,229,054,.
OFFICERS.—Chairman of the Board, William H. Nichols; Pres., W. H.
Nichols, Jr., Gen. Counsel, Sanford H. Steele; V.-P. A Gen. Mgr., C. W.
Nichols; V.-Ps., Chas. Robinson Smith, E. B. Bragg, A. W. Hawkes and
Nelson A. Howard; Sec., James L. Morgan; Treas., Lancaster Morgan,
25 Broad St., N. Y.—(V. Ill, p. 299 , 497, 1087, 1374, 1665.)
GENERAL CIGAR CO., INC., N. Y—ORGANIZATION.—Incorp.
April 28 1906 under laws of N. Y. as the United Cigar Manufacturers Co.
name was changed by court order effective March 1 1917 to General
Cigar Co., Inc.
Business is that of the manufacture and distribution of cigars.
Company
The
succeeded to the properties and business
and has since acquired the business of
of the United Cigar Manufacturers
Theobald A Oppenheimer Co. of
of New York, the Best
Phila., M. A. Gunst A Co., Inc., Bondy A Lederer,
A
Russell Companies
of Chicago, Memphis and Kansas City, and the
Conway Cigar Co. of Sioux City, la.
Operates 62 factories, stemmeries
and warehouses for curing and storing leaf tobacco, which are located in
50 cities or towns.
Output is approximately 500,000,000 cigars annually.
STOCK.—Neither pref. can be
increased nor can mtge. other than pur¬
consent of 75% of that issue, and
default for at least two quarterly
chase money mtge. be created without
neither has voting power except while
dividends continues.
The $5,000,000 debenture pref. stock issued
an
annual cumulative sinking fund beginning
,
,
„
,
.
.
in July 1919 is entitled to
with 1921, sufficient to
purchase (or call) and cancel at not exceeding 110 & div. 1,500 shares of
said stock; it is also exchangeable for common stock, share for share. V. 108,
p. 2633; V. 109, p. 176,375.
DIVIDENDS.—On common,
to
5%; 1910, 6%; 1911, 4X%' 1912
Aug. 1919 to May 1921, IX % Quar.
1909,
May 1919, 4% yearly (1% Q.-F.);
V. 109, p. 275, 375.
REPORT—Calendar year 1920, V. 112,p.
Gross
Net
Int. on
Cal.
Profits.
Income.
Loans, &c.
1920,$9,879,798 $3,707,073
$30^,653
1919- 7.422,414
3,028,483
255,551
1918- 5.893.956
2,083.770
423,883
1917. 4,520,578
1,610,360
268.339
Yr.
1615:
Balance,
Pf. Divs. Com. Divs.
Surplus.
$661,731 $1,086,240 $l,6o2,449
482,887
905,200 1.384,846
350.000
724.160
585,727
350,000
724,160
267,865
OFFICERS.—President, Fred Hirschhorn: Senior V.-Pres., R. C. Bondy;
Treas., William Best Jr.: V.-Ps., Milton H. Esberg, B. G.
Vice-Pres. A
Meyer; Sec., H. V. Shick.
Office, 119 W. 40th St., Nl Y—(V. 112,p.l615.)
MAY, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
[For abbreviations, «fec.,
see
STOCKS AND BONDS
Date
Bonds
notes on page 61
(federal Electric Co.—Stock ($185.000,000)—".
Debentures for Spraeue stock g call 105 (V. 75, p. 139) _xc
Debentures $60,000,000 g red 107 X not cony—Ba.xc" &r*
Debenture bonds $15,000,000 g red 105
c*&r*
Employees debenture bonds—see text-.
Qeneral Gas & Electric Co—Common stock $10,000,000Pref stock $7,000,000 7% cum A partic callable 125.....
Convertible preferred stock
First Lien convert call 105 $20.000,000..
Eq.c*&r*
1902
1912
1920
Par
Amount
Rate
When
Value
Outstanding
%
Payable
$100 168,379,300 See text
Ac $ 2,047,000
3 X g
Ac
5 g
15,082,500
6 g
100 Ac 15,000.000
10O
500
100
100
100
«.
Ten-year gold bonds $1,411,000 callable at par..
G.c*
.......Nxxxkc*
1912
1915
1919
..Me.xxxc*
1919
-
Secured 6% bonds $4,700,000 call par
Income bonds 7% non-cum call
par.....
Principal Bond, Ac., of Subsidiary Cos (See also text)—
Pennsylvania Utilities Co 1st M $50.000.000gcall 105c*&r*
10 year 2nd Mtge notes callable 110-.
gzx
Rutland Ry, Lt A Power 1st M (closed)
c*
N J Power & Light Co. 1st M unlim g..
Gxc*
Sand Q 5c El 1st Ref 5c ImpM$2^000.000 s f call 103 text.c*
Bing'n L. H & p Co 1st Ref M (V 102,p 1719) call 105.G.c»
Vermont Hydro-Elec 1st M ser A g call 101 a f 1 % Me.xxxc*
Metropolitan Edison Co—See separate statement.......
Reading Transit 5c Light Co—See "Elec. Ry. Section"
General Motors Corp—Common stock auth 50 000.000 sh
Pref stk6% cum non-vot red 110 5c divs $20,000,000
Debenture stock $90,000,000 6% cum call 115
Debenture stock $500,000,000 7% cum. call. 120
...
1916
1916
1906
1916
1915
1916
1919
„
1,000
500 Ac
100 Ac
25 Ac
100 Ac
100 Ac
1.000
100
100
100
electric railways and.all kinds of electrical supplies.
V, 85. p. 155. 1648:
Y. $2, p. 502,635,1040; V. 65, p. 151; V. 68. p. 1024.
( V. 108. p. 1837.)
V. 70, p 689; V. 80, p. 1481; v. 83, p. 689.
Owns entire common stock of
Electrical Securities Corp. and Elec. Bond A Share Oo.
V. 79. p. 1706.
$645: V. 81, p. 510; V. 103, p. 1595.
International Qeneral Electric Oo.
export organization.
V. 108, p. 83,385; V. 110,j>. 1435.
In 1919 acquired
control of the Cooper-Hewitt Electric Oo. and Trumbull Electric Oo.
V.
108, p. 2437; V. 109, p. 375.
Adirondack Elec, Pow. Corp., V. 109. p. 2441.
Acquired a substantial interest in the Locke Insulator Oorp. in 1920,
V. Ill, p. 1374. Victor X-Ray Oorp. organized, V, 111, p. 1475. In Jan.
1921 acquired the lamp and wire plants of the Independent Lamp A Wire
Co. V. 112, p. 377. New lamp plant, V. 112, p. 1287.
As to organization of Radio Corp. of America, see caption of that com¬
pany below,
V. 109, p. 1704.
Owns tbe rights for the U. S. under patents covering Curtis steam turbine
engines. V. 76, p. 1195; V. 77. p. 2161; V. 82, p. 1272.
Settlement of
Government suit, V. 93, p. 1024, 1194; V. 92, p. 599.
Oo. announced in Mar. 1920 that it had acquired under lease, with
option to purchase, the Remington Arms U. M. O. plant at Bridgeport,
Conn.
V. 110, p. 1191.
Acquired the former plant of the Bartlett Hay.
ward Coy Baltimore, in May 1920.
V. 110, p. 1976. Lamp patent sus¬
tained, V. 110, p. 2571.
Agreement with Amer. Tel. A Tel. Oo. to ex¬
change licenses, patents, Ac., V. Ill, p. 899.
STOCK.—The stockholders voted Mar. 16 1920 to Increase the author¬
ized capital stock from $125,000,000 to $175,000,000.
The directors also
authorized the issue of new stock for subscription by stockholders of record
on
the basis of one new share for each 10 shares outstanding
V. 110, p. 1191.
on Nov. 12 1920 authorized the issuance of $27,500,000
$125 per share.
The directors
additional stock to be offered to stockholders of record Dec. 8 1920 at par
at the rate of one share of new stock for every 5 shares of old stock held.
Subscription to the new stock must be made on or before Jan. 20 1921, and
payments are to be made either in four equal installments, on Jan. 20,
April 20, July 20 and Oct. 201921, or in full at time of subscription. V. Ill,
p. 2233.
The stockholders on May 11 1921 authorized an increase in the capital
stock from $175,000,000 to $185,000,000.
DIVIDENDS.—
IS99.
1900.
1901.
1902 to Apr. 1921.
In cash, per cent—,
3
6X
9
8 yearly (Q.-J.)
In stock JAJ
4% yly Jan'18 fcoJan.*21
In 1902 distributed 66 2-3% stock, restoring 40% surrendered in 1898,
and on Jan. 18 1913 30% ($23,297,000) to repay in part dividends passed
or reduced in years since 1893.
In Aug; 1917 1% extra was paid to aid
Red Gross contributions.
V. 95. p. 2388,422.
On Jan. 15 1918 paid a special semi-annual dividend of 2% in stock
along with the regular quarterly 2% in cash.
V. 105, p. 2187. From July
1918 to Jan. 1921, incl., paid semi-annually 2% extra in stock.
DEBENTURES.—No mortgage can be made without equally securing
the debentures except purchase money mortgages and pledges as security
for temporary loans or as indemnity.
V. 95. p. 238, 752, 892, 1611,
Employees' debenture bonds, V. 112, p. 1420.
The $15,000,000 20-year debentures, sold in Feb. 1920, were issued to
provide for the payment of the $15,000,000 6% notes due July 1 1920.
V. 110, p. 663.
REPORT.—For year ending Dec. 31 1920, in V. 112, p. 1420:
Calendar Years—
1920.
1919.
1918:
1917.
—
————
Bales
..
—
—
—$275,758,4881229,979,9831216,815,278$196,926,318
Net, after ord. taxes—$35,420,616 $38,355,221 $32,982,071 $33,516,830
Federal taxes (est.)
—
Dividends (8% p. a.)—_
2,377,089
2,277,250
4,288,328
Interest, Ac>
1,113,002
5,500,000
8,120,648
Red Cross div. (i%)—.
1,015,078
Div. in stock——(4%)5,437,700 (4)4,772,918 (4)4,587,398 (2)2,030,156
9,000,000
10,656,222
11,000,000
9,545,469
13,500,000
9,165,622
— —
,
Balance, over divs.— $6,038,365 $10,759,584
—
$3,351,962 $15,737,946
Total surplus Dec, 31 1920, $70,048,610.
'
DIRECTORS.—O. A. Coffin (Chairman).
E. W. Rice Jr. (Pres.),
Gordon Abbott, Oliver Ames, Anson W. Burchard (V.-P.), George P.
Gardner, Francis L. Hlgginson Jr., Robert Treat Paine 2d, Marsden J.
Perry, Seward Prosser, B. E. Sunny, George F. Baker Jr., Charles Steele
and Philip Stockton. N. Y. office, 120 Broadway.—(V. 112, p. 166, 377,
474, 1287, 1391, 1420, 1745, 2088.)
GENERAL OAS A ELECTRIC CO.—ORGANIZATION.—Incor¬
porated in Maine July 3 1912 (V. 95,p. 110).
Owns control of public
service properties under management of The W. 8. Bars tow Mgt. Assn., Inc.
In 1917 arranged for a part of its own coal supply through Eastern Utilities
Coal Co.. which issued $325.0001st M. 6s ($450,000 auth.). V.104, p.2237.
Controls through stock ownership 10 public utility operating companies
which in turn through stock ownership and long term leases operate 22
additional public utility companies.
Of the total amount of stocks of sub¬
sidiaries and affiliated companies outstanding, the company controls over
99% of the Common stock and over 77% or the Preferred and Common
stocks combined.
The utilities are mainly electric and gas properties
located in the States of Pennsylvania, New Jersey, New York, Vermont,
New Hampshire and Ohio, serving an estimated population of 1,000,000.
Aquisition in 1919 of Metropolitan Edison Co., Vermont Hydro-Electric
Corp., Ac.—(V. 109. p. 480. 1796.)
Stocks
of Subsidiary
Companies Owned.
,
Owned by i
Qen. 0. & E. (Jo.
Outstanding, or Sub. Cos.
—2,500,000
As of Dec. 31 1920—
Metropolitan Edison Co.—Preferred
Common
——————-3,000,000
Pennsylvania Utilities Co.—Preferred
........
800,000
Common....
828.571
Eastern Penna. Pow. Co. of N. J.—Common
2,000
Easton Gas WorkB—Preferred
200,000
Common
269,400
N. J. Pow. A Lt. Co.—Preferred
224,100
Common
345,700
Vermont Hydro-Elec. Corp.—Preferred............
650,000
Common
600,000
Rutland Ry. Lt. A Pow. Co.—Preferred——
600,000
Common
1,700,500
Pittsford Power Co.—Preferred..
200,000
Common
300,000
Binghamton Lt. Ht. A P. Co.—Preferred
.......
60',400
Common
500,000
——
„
.......
,
-
......
.....
..........
.....
.......
...
.
..........
3,000,000
772,300
814,757
2,000
200.000
269,400
------
345,700
_.—
.
600,000
84,900
1,679,100
-—-—
—
See text
Check
from
Co's. Office
Guar Tr Co. N Y; & Boat
N Y, Boston A London
N Y A Boston
See text
New York
J July T1932*
A
J Jan 1 1925
MAS Sept 1 1929
A
P g
V
1,285.000
1.731.000
None
Places Where Interest and
Dividends are Payable
Augl 1942
Q—J
4,068,900
1,880,000
1,000
100 Ac
QENERAL ELECTRIC CO.—ORGANIZATION.—Organized under a
special charter of New York April 15 1892. and manufactures outfits for
at
4,178,200
816,125
1,000 Ac
1,000
.....
April 6 1920
4.025.900
1,077,000
450,000
A
A
Last Dividend
and Maturity
MAS Septl 1952
P
A
A Feb 1 1940
4,515,400
2,500.000
1,943.000
1,009,000
879,000
.......
Q—J 15
F
179
n
n
April
Equitable" Trust ~(5o j" N Y
Guaranty Trust Oo. N Y
Oo, N Y
New York Tr
Oct 1 1934
Mercantile Tr Oo, N Y
A
A
O
Apr 1 1946
MAN May 1 1926
MAS Mar 1 1946
7
A
A Feb 1 1936
MA
S Mar 1 1945
A
A
O Feb 1 1946
A
A
O Oct 1 1929
20,308,530 sh. See text
6
16,183,400
56,365,900
7
25.153,500
Q—F
Q—F
Q—F
Q—F
May 2
May 2
May 2
May 2
New York A
Philadelphia
Fidelity Trust Oo. Phila
Lincoln Trust Oo, N Y
New York
Fidelity Trust Oo. Phila
New York
New York
'21 25c.
Checks mailed
do
do
do
do
do
do
1921 IX
21,1 H%
1921 1H
Owned by
Qen.Q.&E.Co•
Outstanding. orSub.Cot.
Sandusky Gas A El. Co.—Preferred—100,000
Common..
Northwestern Ohio Ry. A P.
500,000
Oo.—Preferred
...
500.000
500,000
800,000
6,000
500,000
800.000
Interurban Gas Co.—Common.......6,000
Reading Transit A Lt. Co.—Preferred "A"——
131 i450
Preferred
"B"———
1,511,500
Common
2,900,000
Oley Valley Ry. Oo.—Common
....
250,000
Neversink Mountain Ry. Co.—Common—........
100,000
Port Clinton Elec. Lt. A P.—Common............
21.35ft
Common
—....———
—
1,300,000
-
—
Sayre Elec. Co.—Preferred......
Common
100,000
Eastern Utilities Coal—Common—.......—
100,000
150.000
............
..............
...
2,900,000
250,000
100,000
21,356
150.000
500.000
600,000
.........
60,000
60,000
...........4,000
4,000
100.000
100,000
See separate statement of Metorpolitan Edison Co. and see below for
Vermont Hydro-Elec. Corp.; compare also "Electro Ry. Section" for
Waverley El. Lt, A P.—Common..
The
Jersey Corp.—Common
General Finance Corp.—Common—...
—....
statements of other subsidiary companies.
CAP. STOCK OF GEN. GAS A EL. OO.—The 7% pref. (cumulative
1 1915) is entitled to participate with common in any year after
6% on common.
The non-cum. convertible pref. (convertible into com¬
mon at par at any time) is pref. over common as to assets and as to 4%
dividends in 1916, 5% in 1917 and 6% thereafter.
V. 105, p. 1713.
from July
DIVIDENDS—j
1912.
1913.
1914.
1915.
On 7%
1 H%
6
5X
1916 to Apr.T7.
7
Pref.%\
7 UH%
None
Q-J)
since
BONDS.—Convertible bonds of 1912. auth., $20,000,000;
issued and
outstanding Dec. 31 1920, $1,077,000; they are convertible, $ for $, into
pref. stock.
Additional bonds under certain conditions, V. 95, p. 1210.
As part of the financing in Sept. 1919 the company made two new bond
Issues:
(1) An auth. $4,700,000 6% bonds due Sept. 1 1929 (callable at par and
Int.) .whereof $450,000 are reserved to retire the 10-year bonds due 1925.
These new bonds are secured by pledge of
Edison Co. com., (b) entire $2,900,000 com.
(a) $3,000,000 Metropolitan
stock of Reading Transit A
Light Co., also $550,000 of its 6% cum. pref. stock subject to agreement to
exchange same for its 7% cum. pref.; (c; $345,700 com. stock N. J. Power
A Light Co.; (d) $500,000 com, stock Sandusky Gas A Elec. Co.; (e) entire
$550,000 com. stock of Vermont Hydro-Electric Oorp.
(2) An auth. $900,000 7% non-cum. income bonds due Oct. 1 1934
entitled to interest only If earned except that at maturity Is entitled to
9
months int. and if called Interest from preceding Jan. 1 to redemption
date, Ac.
Initial payment of l%% made on April 1 1920; 7% paid on
April 1 1921,
.
Vermont Hydro-Electric Corporation.—Whose entire $550,000 issued
stock is owned by General Gas A Electric Co., on Oct. 1919 made a
1st M, to Mercantile Trust Oo. of N. Y. as trustee, to secure bonds without
com.
as to amount Issuable in series under careful restrictions; Series A
$1,738,000 issued; outstanding $1,731,000; has sinking fund Oct. 1 1922 to
1928, equal to 1% of bonds outstanding at time of payment.
limit
REPORT.—For cal. year 1920, in V. 112, p. 1149, shows: Dividends,
Ac., received, $537,594; net, after taxes, $511,680; int. charges, Ac., $400,386; balance, $111,294.
„
Combined Operating Income of Subsidiary and Affiliated Companies Now
Controlled by the General Gas & Electric Co., 12 Months Ended Dec. 31.
Operating Revenues—
1920.
$7,023,814
3,499,162
1918.
1919.
$5,402,066
3,048,387
_
841,590
684,465
$4,823,409
2,564,268
571,242
...$11,364,566
Operating expenses, taxes and rents..
8,980,423
$9,134,918
$7,958,919
6,047,577
5,551,932
Electric
Railway
Gas
Total
$2,384,143
$3,087,341
$2,406,987
OFFICERS.—Pres., W. S. Barstow; V.-P., Lucien H. Tyng; Sec.,
O. Clement Swenson: Treas., William Buchsbaum; Asst. Sec. A Asst.
Treas., J. P. Campbell.
Office, 50 Pine St., N. Y.—(V. 112, p. 1149.)
Operating income
GENERAL
MOTORS
CORPORATION.—ORGANIZATION.—Inin Del. Oct. 13 1916 as successor to Gen. Motors Oo. (of N. J.)
Oo
Aug. 1 1917 the N. J. company was dissolved.
For plan see V. 103, p.
1510,2346.
corp.
PROPERTY.—A detailed statement as to properties as of Dec. 31 1919
appeared in V. 110, p. 2385; compare also V. 108, p. 882; V. 112, p. 1634.
Cadillac Motor Car Co., V. ill, p. 1087.
New plant of
ACQUISITIONS.—As of May 2 1918 all assets of Chevrolet Motor Co.
Corp.) were acquired.—
of Del. (except its 450,000 shares of Gen. Motors
V. 100, p. 824, 2761; V. 107. p. 1006, 1194.
„A(T
„
'
In Dec. 1918 acquired United Motors Corp.—V. 107
p. 1484, 2101;
V. 108, p €3.584.
'
In Jan. 1919 acquired entire capital stock of Gen. Motors Corp. of Can¬
„
,
ada.—V. 108, p. 272, 684; V. 107, p. 1923.
In 1919 acquired the Inter¬
state Automobile Co., Muncie, Ind.
In Oct. 1919 announced that control had been acquired of the Delco
house light business and plant at Dayton, O., and the Sunnyhome Elec,
Go. of Detroit, and had made an ofrer for control of Fisher Body Oorp.
by purchase of 300,000 shares of its new common
$30,000,000 to that company's current assets.—V.
For other acquisitions see V. 108. p. 882; V. 109,
Organized the Gen. Motors Acceptance Corp.
p. 481; V. 110, p. 2079; V. Ill, p. 536, 593.
on a
basis adding about
109, p. 1673.
2267; V. 110, p.-2660.
In Jan. 1919.—V, 108,
p.
CONTROL.—In Nov. 1920 E. I. du Pont de Nemours A Co. acquired
from W. C. Durant 2,504,273 shares of Gen. Motors Corp. common stock
through the newly organized Du Pont Securities Co.
On Dec. 31 1920 the
Du Pont company owned a 29.57% interest in the common stock.
It is
understood that the Du Pont and Morgan interests combined amount to
something more than 51% of the outstanding common stock.
V. 112. p. 1139.
Compare
CAPITAL 8TOCK.—On Jan. 6 1920 the shareholders voted to
the authorized stock to the following amounts; $20,000,000 6%
change
Prer.,
300,000
$90,000,000 6% Deb. stock, $500,000,000 7% non-voting Deb. stock (new
Issue), having a par value of $106, redeemable at 120 and ranking parrl
600,000
passu
with Pref. and old Deb. stock, 50,000,000 shares Com. stock without
[Vol.112.
STOCKS AND BONDS
INDUSTRIAL
180
*
Date
Par
Amount
Bate
When
Bonds
Value
Outstanding
%
Payable
MISCELLANEOUS COMPANIES
&c., see notes on page 6]
[For abbreviations,
Last
Dividend
Places Where Interest ahc
Dividends are Payable
and Maturity
.-.'v
■
General Petroleum Corp.—Com. stock $46,787,800
Pref. (a. & d.) 7% cum. call, at par $3,212,200
Sinking fund gold notes red 105 $10.000,000-----,--xxxc
Gillette Safety Razor Co—Stock 250,000 shares
Gilliland Oil Co—Common stock 600,000 shares auth
—
Pref (a & d) stk 8% cum red & conv (see text)$5,000,000 au
Glrard Point Storage—See Pennsylvania RR.
Goldfield Consolidated Mines Co—Stock $50,000,000 auth-;.
Goodrich (B F) Co—Common stock 1,500,000 shares
Preferred (a & d) 7% cumulative autb $47,224,000
Convertible notee (see text)
Bac*
value.
Ten shares of new Com. of no
change for each share of old Com. of $100
made on and after May 3 1920.
par
par
par
1921
500 &c
None
None
Issues
make
required from time to time, and not with
V. 108, p. 1824 2025 2437.
On June 12 1919 the shareholders voted to increase the authorized
of common and debenture stock to $500,000,000 each, in order to
197-8
,
York
or
San
Fran
public.
V. 108,
the
7%
deb. stock.
The 6% pref., the 6% debentures and the 7% debentures rank equally
as to both dividends and assets.
These stocks are entitled to receive divi¬
dends at the rates specified before any dividend is paid upon the common
stock.
Upon liquidation the holders of the pref. and debenture stocks shall
be entitled to be paid in full both the par amount of the stock, $100 a share,
Q—F
15 Feb 15 *21,2%
Checks mailed
1919 5c Checks mailed.
15'21$1.50 Checks mailed
Dec 31
text
text See
text. Feb
GENERAL PHONOGRAPH CO.—(V. Ill, p.
974.1191,1854,2660.)
GILLETTE SAPETY RAZOR CO.—Incorporated in'Delaware Sept. 10
1917 (V. 105, p. 1108,1213), succeeding Mass. corporation.
Plants located
at Boston, Mass.,
and Montreal, Canada.
(Compare annual report printed
in full in V. 112, p. 664.)
STOCK.—Authorized, 250,000 sharqs of no par value.
The directors on
Jan. 14 1920 voted to increase the company's working capital by offering
to shareholders of record Jan. 30 1920 snares to the company's treasury at
$100 per share on the basis of one new share for
Canadian Co., see V. 109, p. 1464.
each ten shares held.
Sept. 1918 increased t®
and Nov. 1918 and June 1 1919) •
11920, $2 50 quar.
Dec. 1 1920, $2-50
DIVIDENDS.—Rate previously $7 p. a., was to
$8 (extras of $1 were also paid in June
and to Aug. 1919 to $10 per share; Dec. 11919 and Mar.
June 1 1920, $2.50 and $1 extra; Sept. 1 1920, $2.50;
and $1 extra; Mar. 2 1921, $3; June 1 1921, $3.
ANNUAL REPORT.—In full in V. 112, p. 664.
Company's Net Earnings
showing;
Without Reserve for Taxes—Sales.
The sales include the sales of subsidiaries in England, France
and Canada.,
1919.
1918.
1917.
1916.
Sales, No. razors 2,090,616
2,315,892
4,580,987
1,094,182
782,028
Doz blades-19,051,268 17,320,517 12,895,618
9,619,030 7,153,466
Co.'s net earns._$6,803,407 $6,025,350 $5,252,136 $4,603,782 $3,192,832
1920.
2025.
The preferred stock and the debenture stock may be exchanged on
basis of one share of pref. or deb. stock and $100 cash for two shares of
See
See text
100 &c
standing issue of pref. stock, share for share; (2) to decrease the then au¬
thorized pref. stock from $100,000,000 to $20,000,000.
V. 107. p. 2102,
2292; V. 108, p. 83, 584.
See also du Pont report, V. 108, p. 1074.
,
New
Boston
do
do
Q—J
July 1'21. IX%
37.224.000 7 to 1920
Bankers Trust Co, N T
A
&
O Apr 1 1925
7 g
30.000,000
100
i$20
8
3,529,700
35,591,480 See
10
value will be given In ex¬
value, the exchange to be
In May 1919 $50,000,000 Deb. stock was offered to the
See text
F&A
7 g
15 Feb 15 1931
7,500,000
250,000 shs. $12 to'20
Q—M June 1 '21 $3
100
CHANGES IN CAPITALIZATION.—The shareholders voted Dec.
10 1918 (1) to authorize an issue of not exceeding $150,000,000 6% de¬
benture stock, of which $20,000,000 was made exchangeable for the out¬
p.
Q—M
7%
None 444.406 shs.
RIGHTS.—Pref. and 6% Deb. stockholders of record Jan. 9 1920 were
given the privilege of subscribing on or before Feb. 2 1920 to 2 shares of
new 7% Deb. stock at
par, payments to be made in cash, or 50% in cash
and 50% in Pref. or 6% Deb. stock at par.
Compare V. 109, p. 2075
Common stockholders of record Jan. 15 1919 had the right to subscribe
to 240,000 shares of Common stock at $118 per share (underwritten at that
price) to the extent of 20% of holdings.
\. 108, p. 83, 174.
Stockholders of record June 12 1920 were given the right to subscribe to
additional common stock at $20 per share to the extent of 20% of holdings.
V. 110, p. 2390.
provision for future financing as
a view to
any immediate issue.
;■
See text
text
$100 $23,036,000
100
3.212,200
OFFICERS.—Chairman, J. E. Aldred; Pres., King C. Gillette: V.-Pres.
Fahey; Sec., Frank J. Sullivan.
St., Boston.—(V. 112, p. 262, 648, 664.
Sc Treas., Frank J.
Office, 47 West First
GILLILAND OIL CO.—Incorp. Sept. 24 1916 to Dela,
Owns produc¬
ing properties and undeveloped leases in Okla., Kansas, Louisiana and
Texas.
In Jan. 1921 had 349 oil wells, 14 gas wells and 17 wells drilling.
Owns 100,000 shares of stock of Paragon
Refining Co.
and any accrued dividends.
The sole voting power is
CAPITAL STOCK.—Pref. stock is convertible at any time into common
stock at the rate of one share of pref. for two shares of common, the rate to
default of dividends upon the preferred and debenture
change in case of any increase of common stock and sale thereof at less than
$50 per share.
Redeemable at 105 to Feb. 15 1921 at 107H to Feb. 15
1922, and at 110 thereafter.
Sinking fund, 20% of net earnings after pref.
divs.
Pref. and com. stocks have equal voting rights.
vested in the common stock except in case of
stocks, and except
happening of certain events, as follows:
(a) The pref. and debenture stocks shall vote upon the sale of the assets as
an entirety;
(b) in case earnings amount to less than 9 % in any year upon
the amount of the debentures outstanding, the debentures shall have equal
voting power with the common f o long as the default in earnings continues;
(c) in case of failure for six months to pay dividends upon the debentures,
the sole voting power becomes vested in the debentures so long as the default
upon the
in dividends continues.
DIVIDENDS.—On com., in 1917, Feb., 1%; May 1917 to Feb. 1920
3% each (12% p. a.). V. 104, p. 2556.
The directors on Mar. 25 1920 de¬
clared, along with the regular distribution
dividend of 25 cts.
a
new com.
on
the pref. and debenture stocks,
share in cash and l-40th of a share in stock on the
stock without par value, and a dividend on the old com. stock of
a
the par value of $100 a share at the rate of $2 50 a share in cash and one-
rourt-jbi °f a share of
V.
common stock
without par value, payable May 1 1920.
110, p. 1294.
In Aug. and Nov. 1920, paid 25c. a share in cash and
l-40th of a share in stock on the new common.
In Feb. and May 1921 paid
25c. a share in cash, the stock dividend being omitted.
REPORT.—For calendar year 1920, in full in V. 112, p. 1634:
1920.
1919.
1918.
401,610
406,158
246,834
Net sales..
$567,320,603 $509,676,695 $269,796,830
Calendar Years—
Cars and trucks sold
Net profit after depreciation, &c._
War taxes, &c
49,277,521
3,894,000
90,517,519
30,000,000
35,504,576
20,113,548
....$45,383,521
...$37,750,375
973,748
Debenture dividends
4,646,678
Common dividends.............. 17,893,289
$60,517,519
$60,005,484
1,032,376
3,180,136
17,324,541
$15,391,028
$14,825,530
1,180,901
739,566
11,237,310
$38,468,431
$1,667,753
Balance
General Motors proportion
Preferred dividends
Balance,
surplus....
...$14,236.669
—Pierre S. du Pont, Chairman & President; J. J. Raskob,
Chairman of finance committee; T. S. Merrill, Sec.; M. L. Prensky, Treas.;
a
Jur?£I\ComptroHer.
Main office, Detroit; N. Y. office, 224 W.
57th St.—(V. 112, p. 749. 853, 937, 1149, 1511, 1611, 1634,
1521,1871.)
io
«
v
PETROL BUM CORP.—ORGANIZATION.—Incorp. May
In California, successor to company of same name, foreclosed June
J
pian of reorganization in V. 102. p. 889. Owns various oil
T^,held &Lfe®.or under lease'111 California and Mexico. V. 104, p. 2556.
nnn
onn
clas/s
of California.
"W' p;A27^V* 112, p. 749.
Owns entire capital stock
A' and $5,500,000 class "B") of General Pipe Line Co.
V. 103, p. 1414.
.»JIrP0K,~"T?e stockholders voted
8tock from
on Jan. 19 1920 to increase the author
$21,787,800 to $47,000,000.
Rights.—Common stockholders of record Dec. 15 1919 were given the
rhdlege of subscribing at $125 per share for 57,424 shares of coin, stock
a the extent of 33
1-3% of holdings. V. 110, p. 81.
♦„S-e5'^FroS.e?ds ®f tl\e $7,500,000 7%
to retire all outstanding bonds of Gen.
s. f. gold notes of 1921 were used
Pipe Line Co. of Calif, and to retire
™Jii°£ tk® Gen. Feb.
Petroleum Corp. secured gold notes.
willcmnmence
lo 1922 to be used for
Sinking fund of 5%
purchase and redemption of notes.
diy- of 3H % paid
^oc® t® JuneJ 1^21.
on Pref. stock Sept. 1 1916
On Common initial div. of 10% was
declared payable 2K% each on Oct. I 1917,
Jan., Apr. and July,
Oct. 11 1918, 2)4%, Oct. 31 1918 to May 31
1921,1% monthly.
REPORT.—For fiscal year ended June 30 1920 in V. Ill,
months ended March 31 1921 in V. 112, p. 1973.
Gross
Gross
aDeprec.
Pref.
Cam.
1919-20
1918-19
Profit.
Income.
p
1918;
985- fcr 9
Bal.
Int. &c. Div. (7%) Divs.
Surplus.
4,209,435 224?854
2.180,852
43 531
7,669,305 6,658,672
7,864,827 6,846,748 4,398,171 224.854
8,183.106 7,330,989 3.568,499 224,854
1,656,497
1,349,018
573 226
2.188i621
a Includes Federal income and excess profits taxes
1919-20. $363 768
1918-19,
$649,146;
1917-18,
$1,097,520.
President
John
Barneson.
New York office, 71 Broadway.—(V. 112, p. 749, 853, 1973.)
San Francisco.
Feb. 15, &c.; initial div. having
15 1920.
REPORT.—For year ended Oct.
depletion
(estimated),
net profit, $1,673,192,
$4,474,830;
1920 showed: Profit. $6,448,022;
Fed. taxes, (estimated), $300,000
31
1
OFFICERS.—Pres., J. W. Gilliland; Treas., G. R.
McCullough; Sec.
Main office, Tulsa, Okla.—(V. 112, p. 262, 474,
J. W. Hayes.
1521, 1871.)'
QOLDFIELD
CONSOLIDATED MINES CO.—ORGANIZATION —
Incorp. to Wyoming Nov. 13 1906.
Owns 381 acres of mining ground to
fee.
Also owns about 30% of the issued stock of the Ash Peak Mines Co.
and has acquired about a three-fourths interest in the Surcease Mine,
located in Plumas County, Calif.
Stock
authorized,
$50,000,000; outstanding, $35,591,480: par, $10.
In March 1919 the entire remaining mining property not theretofore leased,
except the milling plant, was leased to the Goldfield Development Co., a
new independent company
(backed by local [Goldfield] interests), for a
royalty of from 15 to 20% of the net proceeds of the ore produced.
The
lease, however, was relinquished at the end of 1920.
The right to subscribe
at 5 cts. a share for a block of the 2,500,000 assessable shares of the new
company was
offered to the shareholders of this company.
Dividends—
Cents per share
V. 108, p. 1277.
'10. *11. '12. '13. '14. '15. 1916-18.
100 200 300 160 17
301 45
None
/ '09.
\
*19. 1920.
5
text
Stockholders of record July 31 1920 received a dividend consisting of
shares of Goldfield Deep Mines Co. of Nevada equal to the number of shares
of Goldfield Cons. Mines Co. held.
V. Ill, p. 2047.
EARNINGS.—Total earnings for the year ending Dec. 31 1920 were
compared with $244,849 in 1919; total expenses were $248,331,
against $1,227,565; net deficit for the year was $214,875, compared with a
deficit of $982,716 in 1919.
The total surplus as of Dec. 31 1920 was
$627,796.
$33,455,
OFFICERS.—Pres.,
Treas., W. E. Zoebel.
(B.
u
rio
£
Dividends.—Pref. divs. are paid quar.
been paid Feb.
F.)
George Wingfield; V.-P., B. J. Henley;
Office, Reno, Nev.—(V. 112, p. 1287.)
Sec. &
GOODRICH
CO.—ORGANIZATION.—Reincorporated in
in June 1912 acquired Diamond Rubber Co. (V. 93,
V. 94, p. 829, 1386, 1629.
N. Y. May 2 1912, and
1262), having adjoining plant at Akron, O.
Manufactures a large variety of rubber goods,
p.
including automobile tires ^
redeemed at not exceeding 125 and
divs.
At least 3% of pref. stock must be retired yearly after July 1 1913
from surplus profits before divs. are paid on com. stock.
Entire voting
power for election of directors is vested in com. stock until four quarterly
pref. divs. are in default. V. 94, p. 1629. Pref. stock formerly $30,000,000,
reduced by sinking fund prior to Oct. 1 1919 to $24,600,000 (V. 106, j>. 1130).
Auth. pref. stock increased to $49,60v.,000 June 26 1919 and $15,000,000
offered to stockholders of record July i at $ 102.
The $8.000,000 thereof not
so sold was taken by bankers, increasing the outstanding pref. to $39,600,000. V. 108, p. 2332, 2437, 2633; V. 109, p. 1183.
Outstanding pref. stock
was reduced to $38,412,000 in March 1920 and to $37,224,000 in April 1921.
The stockholders on Mar. 15 1920ratified the recapitalization plan which
provided that (1) authorized com. stock be increased from 600,000 shares
of $100 par value to 1,500,000 shares of no par value.
Of the new stock,
600,000 shares were exchanged share for share for the old common, 125,000
shares is set aside for sale to employees, 375,000 shares is reserved for con¬
version of the notes below, and the remaining 400,000 shares is available for
future requirements; (2) there were issued immediately $30,000,000 FiveYear 7% Convertible gold notes, convertible after Apr. 1 1922 into common
stock at $80 a share.
Red., all or part, on any int. date at 103 if redeemed
on or before Apr. 1 1923; at 102 if redeemed thereafter, and on or before
Apr. 1 1924, and at 101 thereafter (with Int.).
Each $1,000 note will have
a stock purchase warrant attached (which may be detached and held and
disposea of separate and apart from the note) entitling the holder on or
before March 31 1922, or, if all notes are earlier redeemed, on or before the
redemption date, to purchase 12 X shares of common stock at not more than
$80 per share.
The warrants attached to notes of smaller denom. will per¬
mit the purchase of a proportionately smaller number of shares.
STOCK, NOTES, &c.—Pref. may be
MAY, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on page 6]
Goodyear Tire & Rubber Co—common
STOCKS AND BONDS
Date
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
stk SI00.000 000
1stpref (a & d) stock 7% cum $100,000,000 call 110 sfd
Issued Under Refinancing Plan—
First mtge. s. f. gold bonds red. 120
k
Sinking fund debentures (see text)
For other securities to be issued under
refinancing plan, se
Goodyear Tire & Rubber Co of California—
Prer (a&d) stock 7% cum $10,000,000 call 5
yrs 105,then 110
1921
1921
e
100 &c
30,000,000
27,500,000
100
'20
N
May 1
are
Payable
23
Oct 1 1920
&
Dividends
1«
1941
New
York
&
Cleveland
1931
8,000,000
(3) Preferred Stockholders' Committee.—George W. Crouse, Akron;
Reamy
Scoville, Cleveland, and
St. Louis, with Loring R. Hoover as Secretary, Room
1455, 120 Broadway, N. Y.
subscribe, subject
allotment, for additional notes or shares at the same prices,
(b) Pref.
were given the privilege of
subscription at the above prices to
as to amount but
subject to allotment.
V. 110, p. 767, 875, 1191.
to
(4) Common Stockholders' Committee.—Fred S. Borton, Cleveland; O. R.
Erwin, Chicago; E. E. Mack, Canton; Russel L. Robinson and F. A.
Seiberling, Akron, with M. E. Morris as Secretary. Akron. O.
Dividends on pref. have been declared regularly 1
% to and Including
July 1 1921.
On common 1 % was paid Aug. and Nov. 15 1912 and Feb. 1
1913; then none till Feb. 1916 to Nov. 1919, 4% per ann.
(1% Q.-F.).
In
Feb. 1920 paid 1 % quar. and H % extra, and in May 1920 to
Feb. 1921 paid
$1.50 quarterly. , May 1921 div. omitted.
V. 112, p. 1745.
Description of Proposed New Securities.
(1) First Mortgage 20-yT. 8% Sinking Fund bonds
x$25,000,000
To be secured by a direct lien upon such real estate and
plants of the
company and such of its stocks and other interests in other companies and
other property as the four committees may determine.
Sinking fund to retire the bonds at the rate of substantially 2\i % thereof
REPORT.—For 1920 in V. 112, p. 1140, showed:
Calendar Years—
sales
semi-annually, by purchase
" 1920.
1919.
1918.
--_$150,007,346 $141,343,419 $123,470,187
8,732,973
20,340,214
21,610,322
Income and excess profits taxes..
*3,057,627
*5,558,912 Not deducted
Interest on bills payable, &c
4,081,926
1,199,862
1,993,032
Depreciation, &c
1,939,760
2,851,381
4,089,681
Preferred dividends.
2,688,840
2,247,000
1,785,000
Common dividends
3,604,200
2,400,000
2,400,000
Net
or
redemption at such prices
as may
scribed in mortgage.
income
Pref. stock redeemed and canceled
Q—J
E. Field, Cincinnati; Charles A. Morris and A. H.
notes or shares without limitation
(2)
10-year 8%
be pre¬
Sinking Fund Debentures
x$25,000,000
a trust agreement, under which will also be
deposited
Common stock, for each $1,000 of Debentures issued, the
To be issued under
ten shares of
new
Debenture holders to be
entitled
to
receive
said
stock at
said
rate
upon
redemption of the Debentures and in the meantime to receive an amount
equal to any dividends paid thereon.
Sinking fund for purchase or redemp¬
tion of debentures (with or without stock
rights) at such prices and in such
amount as may be expressed threin, payable only out of
earnings after
providing for interest and sinking fund on the 1st Mtge. bonds, interest on
900,000
$6,083,060
tg
Sept 1
M
Places Where Interest and
Maturity
J. Herndon Smith,
stockholders
Balance, surplus
def$6,639,380
*
Applicable to previous year's earnings.
and
text
Offerings to Stockholders.—Common stockholders of record March 15 1920
had the right to purchase notes at the rate of $100 of notes
for each two
shares of common stock held, at $99 and
int., if any, for each $100 note, or,
alternatively, to purchase shares of common stock at the rate of 1
shares
for each two shares held, at $80
per share and also could
Net
Last Dividend
$100 $57,894,727 See
text
100
7
69,133.523
New
181
$10,442,609
the
Debentures and all other fixed charges and dividends on the Prior
Said sinking fund may be made cumulative.
(3) 8% Prior Preference Stock Cumulative from Jan. 11921.x$35,000,000
Redeemable all or part at company's option on any dividend date or in
case of liquidation at
110% and accrued dividends.
Sinking Fund.—Before any dividends shall be paid or declared on the
Preferred or Common stock and before any Pref. stock shall be purchased
or redeemed, there shall bs set aside as a fund for the
purchase or redemption
of Prior Pref. stock at such prices as may be
prescribed therein in amount
which shall nob be less than 8% of the amount of all 1st M. bonds and all
debentures retired on or before the next preceding Dec. 31 through sinking
funds and which shall also be not less than the amount
expended or proPref. stock.
OFFICERS.—Chairman & Pres., B.
Treas.^D D. Brown.
G.
Work; Sec.,
Office, Akron, O.—(V. 112,
F.
C.
Van Cleef;
p. 377, 1140,
1521,
GOODYEAR TIRE & RUBBER
CO.—ORGANIZATION.—Incorp
in Ohio in 1898.
Owns fireproof plant, at Akron, O.,
capable (V. 109,
S. 1703) of producing tires and other 106, p. 293. Canadian plant, lands in
umatra; cotton lands in Arizona. V. rubber goods; owns rubber
V. 105,
2439. Dirigible balloons, &c., V. 106,
p.
p.
2563; V. 107,
p.
1388.
Owns
entire $3,000,000 common stock of Goodyear Tire & Rubber
Co. of Calif.,
which see below.
Acquisition of coal lands, V.
110, p. 875.
In March
1921 sold its Long Island City plant to Durant Motors,
Inc., V. 112, p. 1403.
gosedfundbe expended in the purchase or redemption of Preferred stock,
uch
to may he made cumulative.
The company (1) produces about
20% of total automobile tire business of
(2) produces largest single volume of pneumatic truck tires, also
one of the largest outputs of solid truck
tires, both in extensive demand in
industrial and agricultural fields* (3) produces mechanical
To possess subject to the prior rights of the Prior Preference stock and
also the Management stock provided for, if issued, and substantially the
country
goods, such as
hose and valves now in rapidly
(4) produces Neolin soles and
Wingfoot rubber heels, widely distributed by tne shoe trade,
power
transmission belts, also packing,
Increasing demand in the fields
mentioned*
CAPITAL
STOCK.—The shareholders voted Jan. 14 1918 to increase
capital stock from $50,000,000 consisting of $25,000,000
stock and $25,000,000 7% cum.
pref. stock (of which on Oct. 31
authorized
the
common
1917
$20,278,620 common and $24,393,700 pref. were
outstanding) to
$100,000,000. to Include (a) $50,000,000 common; (b) $25,000,000
7%
cumulative 1st pref. stock (the present preferred); (c)
$25,000,000 new I %
cum. 2d pref. (a. & d.) stock.
Of this 8% stock some $15,000,000 was sold
In 1918, later $2,000,000 was retired,
leaving $13,124,600 outstanding.
In Oct.
company
1919, with a view to a broader financial plan for the future, the
(1) called for payment at 105 on Nov. 1 all the $13,124,600 2d
Sref. 1 stock, all the $23,636,200 1st prer stockto(so far
(2) announced that It purposed
call and
1920
an.
see
17
as
pay exchanged—
not off at 105 on
below.) It was also (3) arranged as authorized by shareholders on Nov.
1919 to change the authorized capitalization so as to include
only (a)
$100,000,000
common stock, par $100, which
may be reduced by subdivision
smaller or no par value; (b) $100,000,000
7% cum. First Pref. stock
callable at $110 with annual sinking fund of
2H% after Oct. 31 1920 and
to
a
provision forbidding mortgaging tne property or issuing
any additional
pref. stock without consent of 75% of pref. stock outstanding. V. 109,
1613.
Of the new pref. stock, $40,000,000 was offered to (and sub¬
scribed for in full at par by) all stockholders, the 2d
pref. stockholders being
permitted to subscribe on or before Nov. 1, the other stockholders on or
before Nov. 17, the 1st pref. stockholders also
being allowed to turn in thelr
stock at $112, receiving new pref. stock at $100 a share and
$2 cash. V. 109,
p. 1613, 1703, 1796. 1991.
p.
Common stockholders of record June 1 1920 were
given the right to sub¬
for their pro rata share of $30,000,000 stock,
$10,000,000 thereof
(4) 7% Pref. stock (total auth.
may
be $100,000,000)
$65,000,000
rights and preferences as the present Pref. stock except in so far as
be necessary to carry out the plan.
Common stock (may be either without par value or of such par
value as the Committees may determine.
A total of 1,500,000
shares
may
be
authorized
900,000 sh
same
may
(5)
x Note.—The committee in their discretion may readjust the amounts
of First Mortgage bonds, Debentures and Prior Preference stock to be
authorized and issued and may increase the aggregate amount thereof by
not
exceeding $15,000,000 but in
and Common stock and
to
of Prioi
any
such
case
the amounts of Debentures
Pref. stock to be offered for
subscription
present stockholders will be changed accordingly.
Voting Power.—So long
of the Prior Preference stock shall be out*
standing the holders thereof, voting separately as a class, may, if the
Merchandise Creditors Committee so determines, be entitled (subject to
the prior rights of the Management Stock hereinafter provided for, if issued)
to elect a majority of the board of
directors, and the company shall not
without the affiimative vote or written consent of the holders of at least
as any
two-thirds in
amount thereof (a) dispose of its property and business (b)
or assume any
mortgage or other lien, except in refunding or as
chase money mortgages, (c) create any stock having priority over or on
a parity with the authorized Prior Preference
stock, or increase the author¬
ized Prior Preference stock, or (d) create or assume or guarantee any bonds,
notes or other evidences of indebtedness maturing later than three years
from the date of issue thereof, except to refund debt created under the plan.
For further details of plan, compare V. 112, p. 656. 1735.
create
pui
Bonds
and Debentures Issued.—A syndicate of bankers in April 1921
$30,000,000 1st M. 8% bonds, due May 1 1941. (For description
above.) The company also sold $27,500,000 8% debentures (see above).
V. 112, p. 1745. The readjustment plan was declared operative in May 1921.
V. 112. n. 2195.3^
M
offered
see
scribe
to be common
capital stock and $20,000,000 thereof to be preferred capital
stock, the stockholders to have the right to purchase with every two shares
of preferred stock at par one share of common stock at
par, the stock to be
sold in blocks of three shares each or a
multiple thereof to avoid fractional
shares,
The preferred stockholders were also given the privilege of
pur¬
chasing stock upon a like basis,
V, 110, p, 2390,
.
1
The stockholders
as
Refinancing Plan.
on
May 11
1921 ratified
a
DIVIDENDS on pref., 1^% quar. in full to Oct, 1919.""""On new pref,
ax
i
paid l%% in xiyrn, July and Oct., 1920, Jan. 1921 div. >*„,.*
70 ill April, juiy auu uw., iaz)u,
passed.
V. 112.
iwi
* • "r*
166.
On common, 12% yearly Nov. 1912 to June 1920 (3% Q.-M.).
Sept. 1920 2H%.
Dec". 1920 dividend passed.
V. Ill, p. 2047.
Prior to 1912 cash dividends aggregating $442,292 were paid on common
shares.
Dividends paid in stock: 1908-09, $400,000; 1909-10, $1,000,000;
1911-12, $2,329,100: 1913-14, $1,006,620; 1915-16, $8,247,000.
V. 106
p. 293.
Stockholders of record June 14 1920 received a stock dividend
of 150%, payable July 1 1920.
Fa
refinancing plan outlined
Ri£p6k^.-g"ibl9-261n
follows:
The
plan contemplates the issue of approximately (a) $25,000,000 First
Mtge. 20-Year 8% Sinking Fund bonds, (o) $25,000,000 10-Year 8%
Sinking
Fund Debentures, (c) $35,000,000 8% Prior Preference stock.
The bonds and debentures, or their proceeds, will be used to
pay off the
bank debt, which is largely secured, and for other corporate
purposes.
General Creditors will receive Prior Preference stock for existing
debt
and in
part payment for future deliveries of materials.
i
Holders of existing Pref. stock (about $65,000,000) will receive Pref. stock1
of the reorganized corporation having substantially the same rights and
preferences as the present Pref. stock, share for share.
Holders of existing Common stock {about $61,000,000 will receive Common
stock of the reorganized corporation, which will probably be without
par value, share for share.
Ths $25,000,000 of Debentures, together with 250 shares of Common
stock, and also the $35,000,000 Prior Preference stock are to be offered for
subscription to existing stockholders.
Supervision by Four Committees.—The plan will be carried out under the
supervision of the following:
(1) Bank Creditors' Committee.—Robert C. Schaffner, Chicago; John
8herwin. Cleveland, and Ralph Van Vechten, Chicago, with G. H. Savage
as Secretary, Room 1455, 120 Broadway.
(2) Merchandise and Contingent Creditors' Committee.—W. K. Bruyn,
New York; F. L. Jenckes, Providence: Myron C. Taylor. New York, with
H. M. Young as Secretary, Room 3336, 120 Broadway, N. Y.
Oct. 31
Year—
Gross
Business.
V.
.
Net
Income.
p.
HTpTiB:
Pref. Divs.
Is* & 2nd
Common1
% Dividends.
ZfBalance,'\7
Surplus, g
1919-20—See beiow.
1918-19.$168,914,983 $23,277,245 $2,813,940 (12)$2,489.355 117,973.950
1917-18. 131,247,382
15,388,191 $2,199,736 (12)$2 451,816 $10,736,639
1916-17. 111.450.643
14.004.206
1.499.040 (12) 2.228.342
10.316.824
Net income, as above, In 1916-19 is subject to
Federal taxes.
Sales for
the 12 mos. ended Oct. 31 1920 amounted to about $205,000,000.
No
income account was published, but Pres. F. A. Seibeiling in the annual
report stated that the year was unprofitable.
^See V. 112, p. 158.
"HOFFICERS.—Pres., Edw. G. Wilmer; V.-Ps., G. M. Stadelman, P. W.
Litchfield; Treas., H. H. Sp inford; Sec.,
p. 1521, 1621, 1735. 1982, 2088, 2195.)!
Chas. A.
Stillnmn.—(V^.112,
~
GOODYEAR TIRE
& RUBBER CO.
in California July 10 1919.
Entire outstanding common stock, $3,000,000,
owned by Goodyear Tire & Rubber Co. of Akron, O.; total
authorized,
$10,000,000 pref. stock, $10,000,000; sold in July 1919. $8,000,000.
See
V. 109, p. 275, 1083.
OFIcALIF.--Incorporated
"GOODYEAR"TIRE
p.
& RUBBER CO.^OFJCANADA, LTD.—(V. 112.
1403, 1621, 1745, 1871.)
"
(H. W.)
GOSSARD CO
,
CHICAGO—(V.fll2,
p.
377^657.)
&csee notes on page 6]
Par
Amount
Rate
When
Value
Outstanding
%
Payable
$100 $15,000,420
(Iran by Con*oI MIn Smelt & PowCo—Stock ($25,000,000*
let M convertible bond* series A gold red see text
xct
1913
5-yr conv deb bonds auth, $2,500,000 red (see text).Cec*
Gray & Davis, Inc—Common stock autb 138,904 shares —
Great Atlantic & Pacific Tea Co Inc.—Common stock_.
Pref stock 7% cum $12,500,000 (3% s fd) call 115
100 Ac
1,491,400
6
1920
100 &c
2.500,000
8
None 138,504 shs See
None 250,000 shs
7
See text
100
1920
1920
"iocT&c
1921
100 &c
2,500,000
1906
$5,000,000 auth. call. 105
Eq.xxxc*
call 105
Eq.xxxc*
Underlying Bonds on Properties Absorbed by Merger—
Great West Pow Oo 1st M $26,000,000 (call 100)-Ba.xxxc*
1,000
1.000
20,519,000
1,584.000
1,000
1,000
68,000
84.000
1.602,200
1907
_xxx
1909
1908
1916
fund.—
1915
g-Eq.xxxc
-.xxx
100, Ac
100, Ac
1908
text —z
Oa) Bleo Gen Co 1st M $1,500,000 ru p & I call 105
do
do
1st Mtge Series "B" $3,500,000
1,000
the coal
supply.
V. 88, p
Surplus.
_def$687,011
1920-86,684,123def$147,465 $539,546
2,296,946
6,561.099 def219,839
764,570 (8^)1,312,537
1,500.042
27,091
June 30 '17-1811,644,310
3,542,624 2,015,491
Office, .718 Granville St.,
Pres., W. H. Nichols; Sec., Edward Everett.
Vancouver, B. C.; N. Y. office, 25 Broad St.—(V. 112, p. 67. 377,474, 937.)
and lamp
large number of
other companies.
V, 111, p, 696,
.
108,904 to 138,904 shares ($25 par) in July 1920, the Amer, Bosch Magneto
Corp, interests receiving an option on the additional 30,000 shares,
V.
Ill, p. 593.
The stockholders on April 7 1921 voted (a) to change the par value from
$25 to shares of no par value; (6) and to issue all or any part of the authorized
and unissued capital stock consisting of 30,000 shares of no par value, at
$25 per share in cash to persons entitled to subscribe for the same under an
option agreement of Aug. 4 1920.
DIVIDENDS.—On common stock as follows: Apr. 14 1913, 5%; July 15
1913, 30%; Mar. 24 1916, 25%; Mar. 1 1920, 2%; none
EARNINGS.—For 1920 in V. 112, p.
since to April 1921,
1621.
OFFICERS.—Pres., A, T, Murray V,-P,, Geo, A, MacDonald and G. J.
Lang; Treas., B. J. Moses.—(V. 112, p. 262, 1287, 1403, 1621.)
OREAT ATLANTIC & PACIFIC TEA CO., INC.-ORGAN1ZA111 1858»
Inc°rp, Mar, 4 1901 in New Jersey,
In
Oct, 1920 operated about 4,614 tea and grocery stores.
(a)
$12,500,000 7% cum. pref., $12,027,500 outstanding; (6) also 250,000shares
of common stock of no par value.
V. 103, p. 1795.
Divs. on pref. stock Dec. 1 1916 to June 1921, 7% year (1K% Q.-M.).
NOTES.—The outstanding balance of 6% notes, which were convertible
prior to Sept. 1
1920, were paid off at maturity,
1921.
—The sales for the 12 months ending Feb. 28 1921 were $235,-
302,877, against $194,646,960 for the corresponding period of 1919-20
For balance sheet as of Feb. 28 1921, compare V, 112, p. 2088.
collateral, compare V. Ill, p. 899; V. 112, p. 1287.
Geo.
L.
Hartford-
1st
V.-P., John
A.
Hartford,
sv^'wErad,,d.vwSr-,AvnSGp: MTMfesrD-Clews-
12^2443*'vfnoTpMe!""1 C0-~See v-105' p- 502' 19011 v-109'
GREAT LAKES TOWING CO.—ORGANIZATION.—Incorporated in
on July 0 1899 as a consolidation. See V. 69, p. 79. 593; V. 72, p
Tne company has amendled its practice so as to conform to the
Law aa ordered by the Federal Court.
V 99. d. 123 V. 98 d
1922- V
778
Anti-Trust'.
e.
045: V. 90. p. 492; V. 97.
p.
301.
102«°
b i441
V10(j
inn
100'
'
(wJYlT f??' 'If' n5' '??* '°J- '°8- ,0#- 'iP- "ll- —— '18June'21
17. 51 l Unu i
(/o) ---j
0
0
0
0
2
2
0
Ooifl
Pref (%)
i
0077777
7
7
Pr?v ?ncE^GifeInb'Poe^ & Treas" M- H- Ward well.
G.—(V. 106, p. 503, 932.)
GREAT
M. A.
ail
NORTHERN
ORE
7y'rly(Q-j»
Office f Cleveland,
PROPERTIES.—In
Hanna <Sc Go. of Cleveland, O., took over
the active controlled
properties
on
July 1917
under lease substantially
the Mesaba range
not
leased, leaving free only about 15% of the original holdings.
theretofore
See V. 105
184.
The trustees are Louis W. Hill, James N. Hill. E. T Nichols
and
Ralph
Budd.
The 1,500,000 shares of beneficial interest equal
p.
to the number of
Is
New York
New
See text
Q—J
1919 in V. Ill, p. 77,
OF
n
N. Y*
690.
CALIFORNIA.—ORGANIZA-
and the Great Western
of all system proper¬
ties.
The company in Aug. 1920 (a) owned on a
River about 18 miles from Oroville and 160
tributary of the Sacramento
miles from Oakland, hydro¬
plants with a present capacity of 65,000 kilowatts.
(2) steam
electric plant in San Francisco with capacity of 34,500 kilowatts
(including former City Electric Co.); (3) holds under lease and stock control
a similar 14,000 h. p. plant of California Electric Generating Co. in Oakland,
transmitting electricity to Oakland over tw ocircuits to substations at Sacra¬
mento, Brighton. Antioch, Cowell and Oakland.
In 1919 had begun construction of an additional hydro-electric plant,
Initial capacity 40,000 k.w., known as the Caribou plant, and a steel tower
transmission fine thence to San Francisco Bay district, 192 miles.
See
V. 109. p. 1364. 1703; V. 108, p. 2127.
electric
driven
California Electric
(see
(3) Also owns the $5,000,000 common stock of the
Generating Co. at Oakland, a steam power plant, capacity 12,000 k. w.
below)
When the 40,000 k. w. Caribou plant is completed early in 1921, the com¬
will have a generating
capacity of 105,000 k. w. of hydro-electric
34,500 k. w. from steam plants, will give a
When all the power sites are utilized, over
developed.
WESTERN POWER CO. OF
CALIF.—Auth..
$30,000,000: 7% cum. pref. (p. & d.), $30,000,000.
Outstanding
com., $27,500,000, all owned by Western Power Corp.; pref , $3,796,632.
as collateral, compare V. Ill, p. 899; V. 112, p. 1287.
The pref. stock into which the debentures are
convertible, as below,
stated. Is non-assessable by specific covenant. Is preferred as to assets In
liquidation, Is entitled to cumulative dividends at rate of 7% per annum,
payable Q.-J.. and Is subject to call for redemption in whole or in part at
105 and divs. upon 60 days' notice.
No preferred shares, other than those
reserved against conversion, may be Issued unless the annual net earnings,
after deducting interest on all funded debt and guaranteed dividends,
are twice the annual pref. dividend, including shares proposed.
com.,
Power Co. of Calif.—The $5,000,000 6% con¬
convertible from Nov. 1 1917 to Nov. 1 1920 tncl.
Western Power Co. of California 7% cum. pref.
stock (par value $100) at $95 per share and divs.; in May 1921 had thus been
reduced to $1,177,600.
See V. 101, p. 1889. 2147, and offer to Western
Power Co. stockholders.
V. 101, p. 1890: V. 105, p. 493.
The First & Ref. Mtge. of 1919 is for $150,000,000 and the $6,000,000
of bonds Series A sold in 1919 (with $1,500,000 7% Cum. Pref. stock),
will provide in part at least for the construction of a new power plant on the
Feather River at Caribou.
It will also furnish sufficient money for the
construction of a
new power transmission line to San Francisco Bay. of
150,000 volts.
These bonds are callable at 103 to Feb. 28 1939, at 102
thereafter to Feb. 28 1948 and par thereafter to maturity.
(Compare offer¬
ing in V. 108, p. 2126.)
V. 108, p. 2127; V. 109. p. 1703.
For details of proposed new Series "B' 1st & ref. mtge. bonds to be pledged
as collateral, compare V. Ill, p. 899.
V. 112, p. 1237.
Great
(1)
Western
vertible debentures were
at 100
and Int. Into Great
Gen. Mtge. Conv. 8% Bonds and Gen. Lien Conv.
privilege, security, &c , compare V. Ill, p. 899,
Underlying Bonds (Bonds of
8% Bonds. For conversion
2428; V. 112, p. 1287.
Properties Merged in Parent Company).
Western Power Co. 1st M.
authenticated and on Dec. 31 1919
Great
5s of 1906 authorized
$25,000,000, all
located as follows: $21,411,000
held by
Co.
public (Including $651,000 pledged under Calif. Electric Generating
mtge. not bearing interest); $889,000 retired through sinking fund (1%
of outstanding amount annually beginning July 1 1916); and $2,700,000
pledged under First & Ref. Mtge. of 1919.
V. 108, p. 2127; V. 109, p.
The $5,000,000 com. stock of California Elec. Generating Co. is deposited
under the 1st M.
V. 91, p. 1163; V. 92, p. 1438; V. 89, p. 1283.
1703.
California Electric Generating Co.—Leased to Great Western Power Co..
which owns the $5,000,000 com. stk. and pays 6% on the pref. stock ($2.500 000); all now out (divs. cumulative at 6% from Jan. 1 1912 and guaran¬
teed by Great Western Power Co.); 1st M. auth.. $5,000,000; Issued, guar,
by Great Western Power Co. (V. 88, p. 688; V. 89. o. 472). $1,200,000,
of which $239,000 retired through sinking fund and $7,000 held by G. W.
5% bonds, interest guar.
retired by sinking fund, while
including $1,584,000 held by
$2,561,000 "pledged under 1st & Ref. Mtge." of 1919.
V. 108,
93. p. 668; V. 96, p. 1843; V. 100, p. 1440.
City Electric Co. of
San Francisco.—First mtge.
(V. 92, p. 883). $4,387,000 issued, $237,000
Dec. 1919 $4,150,000 were outstanding,
public, and
p.
2127; V.
REPORT.—For cal. year 1919 in
Calendar Years—
Gross
Surplus after deducting all charges
incl. Fed. taxes & depreciation.
PrSerred
V. Ill, p. 687:
_
$5,172,878
earnings
dividend-..-.
oort
5«-
1917
$4,008,553
,
876,339
1,110,723
654,299
(5%)353,672 (4%)277,0S5 (4%)276,840
$522,667
surplus
1G1S
$4,644,407
$522,667
$833,638
OFFICERS.—M. Fleishhacker, Pres., San Francisco; H. P. Wilson.
V.-P. & Sec., New York; Treas. & Asst. Sec., F. M. Tompkins. N. Y.
Offices
50 Broad St.. N. Y., and 14 Sansoine St., San Francisco.—(V.
112,
p.'1287, 1982.)
GREENFIELD TAP & DIE
CORP.
(V. 112, p. 1403.)
shares of stock held were Issued Dec. 1906 to Great North¬
Ry. stockholders.
Properties, Ac., V. 104, o. 2346- V
10k
V. 94. n. 550; V. 99, p. 1751; V. 104. p. 955; V. 109, p. 69. 1277.
ern
and San Fran
York
*17. '18. '19. '20- '21
$1.50 $4
$4 $4 text
the purchase, but the leases thereof were assumed
Power Co. of California is now the operating company
Balance,
IRON
MAS Sept 1 1948
Tr A SanPr
San Fr
New York and
'10. *11. '12. *13. '14. '15.
*16.
$1 $1.50 50c. 50c. 50c. 50c. $1.25
April 18, $2.
In
N. J.
N Y Bankers
A
D June 1 1955
MAN Nov 1 1925
5
London. Ao
A 8F
York
New
W P BonbrACo JN Y
Leased and Controlled Property.
as
OFFICERS,—Pres.,
Equit Tr, N Y, Ch & 8 F
J July 1
J
ft
Fr
Chic. A San Fran.
,
(2)
STOCK.—Under the recapitalization plan the company authorized
N. Y.,
1946
&
J July 1 1937
MAN May 1 1939
AA O 15 Apr 15 1933
A
STOCK OF GREAT
CAPITAL STOCK,—The authorized common stock was increased from
par
&
5 g
6 g
500,000 k. w. will be
The stockholders in Aug, 1920 approved a contract, which runs to Jan, 1
1936, by which American Bosch Magneto Corp, becomes exclusive selling
agent for the starting and lighting products and assumes management of
pref. stock at
&
F
1950
A Aug 1 1930
A Feb 1 1936
power, which together with the
total capacity or 139,500 k.w.
business is the manufacture of starting-lighting systems
equipment for automobiles, and also manufactures a
component parts which go into the starters installed by
June 1
F
Bost Chic A San
N Y
1 1949
Mar
A Aug 1
riON.—Incorp. in California Nov. 23 1917, and, as of June 1 1919, purch¬
subject to existing mortgages, the propertise of old Great Western
Power Co. (incorp. in 1906), City Electric Co. and Consolidated Electric
Oo.
The California Electric Generating Oo. properties were not included in
ased
pany
GRAY & DAVIS, INC.—Incorporated under laws of Massachusetts
on Mar. 27 1912, to take over by the issue of stock the assets, liabilities and
business of Gray & Davis, a copartnership organized Sept. 16 1896.
Prin¬
into
A
REPORT for year ending Dec. 31
Dec. 31
.
6
See text
Q—J
M—S
F
office, 32 Nassau St.—(V. 112, p. 1029.)
& 1917-18.
Balance,
Paid.
Reserve.
21 1 H%
DIVS.—
share
In 1921:
June 30 '18-19
the company,
June 1
GREAT WESTERN POWER CO.
REPORT.—Years ending Dec. 31 1920 and June 30 1918-19
Gross
Net, after
Vepr., &c.,
Dividends
cipal
*
\Z
2,500.000
LATE
155.
Interest.
K
954,000
Per
DIV.l *13. "14. Aug.'Htto May'lQ. Aug.&Nov'\f>. '17'18.
1919.
% J 6
3 6% (1H%Q--F.)
2% each
2*qu. 10
_
3K
Stockholders In 1913 auth. $5,000,000 15-year bonds, subj. to call after
10 years at 105 and int., with sink. fd. of 4% of bonds issued, to purchase up
to 110 and then call at 105, and conv. Into com. stock at not less than par;
Issues above present $3,440,000 (convertible Into com. stock at par until
May 1 1923) limited to $660,000.
The $2,000,000 issue of 1915 and future
Issues will be redeemable at 110 by lot by an annual sinking fund of 10% of
net earnings or 1% of copper ore mined (except at Phoenix).
V. 96, p. 289,
718; V. 1(W), p. 1513, 1696; Y. 98, p. 1319. 1611; V. 101. p. 1275
The shareholders on Feb. 25 1920 authorized: (a) an issue of $2,500,000
Five-Year 8% Conv. Debenture bonds to be dated May 1 1920; (6) an
Increase in the capital stock from $20,000,000 to $25,000,000.
Shareholders of record March 6 were entitled to subscribe for the deben¬
ture bonds at par to the amount of about one-sixth of their holdings.
The bonds are convertible at any time prior to maturity into ordinary
shares at rate of one share of $100 par value for $55 principal amount of
bonds.
Redeemable, all or part, at any time after May 1 1921, and on or
before May 1 1923, at 110% and interest; thereafter at 105% and interest.
V. 110, p. 875.
Income.
text
4.177,600
100
ORANBY CONSOLIDATED MINING. SMELTING & POWER CO.
LTD.—ORGANIZATION.—Incorporated Mch 29 1901 In British Colum¬
bia.
Owns low-grade copper, Ac., deposits; also smelter at Grand Forks.
B.C. V. 79, p. 1644; V. 81, p. 1490; statement to N.Y. Stock Exchange.
V. 85. p 403; report of expert. V. 91. p. 1250; V. 96. p. 289.
In 1907 a
large Interest was acquired in the Crow's Nest Pass Coal Co., which pro¬
vides
.
Q—M
?g
ig
None
1911 tcall 1913 106; guar
Pref stk $2,500,000 6% cum aft
3.865,684 See
6.000.000
Pledged
5.000.000
100
100, Ac
1919
Gen. mtge. conv.
Convertible debentures call 101 & int $5,000,000
Held under Stock Control and Lease—
May 1 1919 IK Company's office
Title Guar A Tr Co
A
N May 1 1928
New York
MAN May 1 1925
Mar 1 *20
2%
text
M
IK Checks mailed
5
1,675,000
Q—M30 June30 21
do
do
Apr 1 1921 VA
1.952,850 7 In 1920
Q—J
text Apr 18 *21.
text See
$2 32 Nassau St, New York
None l,500.000sh See
majority.
100
27.500,000 Western Power C orp owns large
Gen lien conv $5,000,000 auth
Consumers Light & Power Co gen mtge gold sink
Oonsol Elec Oo Gen M sk fd $2,500,000 guar see
Dividends are Payable
100
Bxxxc*
Olty Blec Co San Fran 1st M (call 105) $5,000,000 guar
Central Okla Lt & Power Co 1st mtge gold s f
Where Interest and
Places
and Maturity
100
$2.500.000-.-Preferred (i&d)7% non-cumulative $2,500,000
Great Northern Iron Ore Prop—Trust certs 1.500.000 "har-*
Grt Western Pow Co of Cat—Com stock auth $30,000,000
Preferred (a Sc d) stock 7% cum $30,000,000 call 105
Great Lakes Towing—Common stock
1st Ref M $150,000,000 seriea "A" call
Series B call
Dividend
Last
Date
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations,
[VOL. 112.
BONDS
INDUSTRIAL STOCKS AND
182
""GREEN STAR STEAMSHIP
2268; V. 110, P- 81. 365
CORPORATION.
V.
109,
p.
1703
MAT, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
[For abbreviations, Ac.,
see
~
STOCKS AND BONDS
Date
Greene Cananea Cooper Co—Capital stock $60,000,000..
Guantanamo Sugar Co—Stock 300,000 shares.—....—
Guffey Gillespie Oil—Common stock 500,000 shares
Pref (aid) 7% CumConvstockcall 105 $2,000,000
Gulf Oil Corp—Stock $60,000,000 authorized..
Serial gold notes due $6,000,000 yly July 1 '21 '23.zz.UPi
S f debenture gold bonds red (text)
U P.kxxx
Gulf States Steel Co—Common stock v t c (V 107. p 2101)
1st pref stock 7% cum v tccall begin 1918 at 110
.....
2d pref stock 6% non-cum v t c convert Into common
Sel? Fluxing Ore & Iron Co 1st M call 101 (V 101
o 777 1
Habirshaw Elec Cable Co—Common stock auth 300,000 shs
Preferred (a & d) stock 8% cum call 105 auth $1,350,000..
Convert s f debentures Series A (see text)
Hackensack Water Co—Common stock auth $6,000,000..
7% preferred cum red text auth $4,000,000
6% preferred convertible text auth $500,000
First mortgage bonds auth $6,000,000 callable 105
Par
Amount
Bate
When
Last
Dividend
Bonds
notes on page 6]
Value
Outstanding
%
Payable
and
Maturity
$100 $50,000,000 See
text
300,000 shs. see text.
None
...
,
f919
.
......
Apr 1
1920
1902
Payable
IX New Yorlr
'21, 50c. Checks mailed
§g
.
1913
are
Nov '22 '20,60c
F
&
A Feb 1 1933
7 g
35,000,000
100
text
Apr 1 1919 1%
11,138,150 See
100
7
"Q~J" Apr 1.1921 IK
2.000.000
100
6
Oct 1 1920 IX
82,100
Q—J
1 000
J
&
J Jan 2 1943
6
195.000
None
Jan 1 '21.37XC
$1 50
Q—J
135,000 shs.
100
Mar 1 '21, 2%
8
1,340,700
Q—M
M &
S Mar 11935
7
2.000,000
""25
Text
J
&
D
See text
5,125,000
25
J
&
D
See text
2,330,657
&
D
25
See text
44.325 ""Text"" J
...
—
Dividends
Nov 1 '21
7
Q—M
IX
36,093,100 6 In 1920
Q—J
Apr 1 '21 IX % Kttsburgh by check
J
&
J July 1 *21 to^23 N Y Guar Tr; Pitts UnTr
18.000,000
100
1,000
1,000
1921
Places Where Interest and
Feb 24, *19
text.
see
None 420,000shra
100
643,300
....
183
1,000
J
4 g
4,750,000
J
&
New York & Pittsburgh
Guar" Tr.~N Y, fey"check
do
do
Binti'ham Tr a Save Co
Checks mailed
Checks mailed
Guaranty Trust Go, N Y
New York "Trust Co ,N Y
July 1 1952
1
GREENE CANANEA COPPER CO.—'ORGANIZATION.—Incorp
in
Minn. Dec. 26 1906 and acquired nearly all of the 1,000,000 shares of the
capital stock of Greene Consolidated Copper Go. (W; Va.)f which in turn
owned all the shares of the Cananea Consolidated Copper Co. of Mexico
In June 1917 arranged to purchase outright the properties of the last-named
company. See V. 105, p. 75,184: V. 104, p. 2455.
DIVIDENDS—
Per cent
A dividend of $1.50
1920, when 50 cents
Feb. 1921.
(1912. 1913. 1914. 1916. '17.
1
was
was
'IS.
'19.
1920-
3H
2H
2
7
8
8
IX
paid Feb. 24 1919: none thereafter until Aug. 23
paid; same amount paid Nov. 22 1920; none in
Notes.—Guarantees $1,852,000 8% notes of Copper Export Association,:
Inc.
V. 112, p. 655.
REPORT.—For
end.
Years—
year
Results for Calendar
income
Gross
31
Dec.
1919,
V.
110, p. 2656. showed
1919,
1918.
$8,939,090 $10,801,765
7,456,744
6,916,251
361,981
528,734
16,328
77,840
......
_
Expenses, taxes, &c
Depreciation——......
Interest paid
—
Miscellaneous
721,060
750,000
Dividends..
Balance
surplus
4,000.000
$354,037 de/.$565,380
..a—
Note.—Operations were suspended April 1 1921.
V. 112, p. 1350.
Pres. is W. D. Thornton, N. Y —(V. 112, p. 262, 657, 1521,)
par
outstanding 300,000 shares,
no
value.
DIVIDENDS.—Initial cash dividend of 12%, together with a 10% stock
div., were paid July 1 1915; on July 1 1916, 12% cash and 9% in stock were
paid; May 31 1917, 2X%; July 31 1917 to July 1920, 2X% quar.
In
an extra dividend of 10% was paid July 1 1920.
On Sept. 30 1920
addition,
and Apr. 11921 paid cents extra on
Itaid 350 cents quar. and 50 50 cents quar. the new no par value stock. On
an.
REPORT.—For years ended
Gross
Sept. 30:
Total
Deduo
Sales
>
Profits.
Hons.
1919-20-.—
$7,847,854 $3,194,165 $1,387,495
1918-19.-—— 6,099.257
1,789,661
703,906
1917-18-4,433,973
1.062,513
521,641
Sept. 30 Years—
Dies.
$825,000
300,000
£00,000
Surplus
$981,670
785,755
240,872
Production of sugar in bags of 320 lbs. each has been as follows: 1919-20,
241,066; 1918-19, 358,397; 1917-18, 306,974; 1916-17, 251,106; 1915-16,
235.428; 1914-15, 248,978.
OFFICERS.—Pres., James H. Post; V.-Pres,, George p. Bunker; V.-P.
Mgr., O. G. Sage; Sec. & Treas., G. H. Bunker.
Office, 129 Front
St., New York.—(V. 112, p. 1029.)
& Gen.
GUFFEY
GILLESPIE
OIL
CO.—ORGANIZATION.—Incorporated
Successor to the business conducted by Messrs.
Produces and sells crude oil and
natural gas and is constructing plants for the extraction of gasoline from
casing-head gas.
Operates principally in Mid-Continent, West Virginia
and Texas fields, where it has leases (including the gas rights on 166,000
acres of land situated in Osage Nation, Okla., and the oil rights on about
1,280 acres of land In the same district, and oil and gas rights on a tract of
900 acres in West Virginia, recently acquired) on about 218,000 acres of oil
and gas properties.
Present daily production over 3.000 barrels.
On
Sept. 1 1920 had 166 oil wells and 19 gas wells.
In Jan. 1921 announced the
formation of the Guffey-Gillespie Gas Products Co., which will take over
and operate the gas properties of the oil company.
V. 112, p. 377.
Owns 75% of the stock of the Billings Gasoline Co., operating a casinghead gasoline plant at Billings. Okla., daily capacity 2,000.000 cu. ft. of gas
Acquisition or interest in 1,250,000 acres of land in Colombians. A..
in Delaware Sept. 1918.
and
Guffey
vTllO,
p.
Gillespie of Pittsburgh.
768, 171.
STOCK.—The Pref. stock is convertible into Common stock at the rate of
share of Pref. to four shares of Common.
Has equal voting power with
the Common stock.
The authorized Common stock was Increased in July
one
1919 from 300,000 shares (no par value) to 500,000 shares (nojpar value).
No mortgage without consent of 67% of the outstanding Pref. stock.
Pref. is callable, all or part, after Dec. 1 1920 at 105.
See offerings in
V. 109, p. 275.
Both classes of stock listed on Pittsburgh
in Nov. 1919 (V. 109, p. 1895).
The Tidewater Oil Co.
1921 acquired control of the company.
V. 112, p. 1982.
V. 108, p. 174;
Stock
fexchange
in April
The trust indenture provides
(a) that while any of the bonds are outstand- •
no mortgage can be created upon the properties, including properties
subsidiary companies (except the remaining $100,000 unmatured debt on
the steamship Gulfoii and except purchase money obligations on hereafter
acquired property); (b) that quick assets shall at all times be equal to the
aggregate amount of Indebtedness outstanding.
Proceeds wiil provide funds for the retirement of $12,000,000 of the
$18,000,000 Serial 6% notes, of which $6,000,000 mature respectively
July 1 1921 and July 1 1922, and to retire current indebtedness heretofore
1920
Ing
of
incurred for capital expenditures.
REPORT —For 1919, in V.
V. 112,
REPORT.—For year ended Aug. 31 1920, In V. 112, p. 71, showed:
Gross earnings from oil and gas operations, $2,956,122; oper. exp., &c.,
$819,578; other earnings, $2,481,743; dividends paid, $56,327; reserves,
1,581,743; surplus for year, $2,980,216.
DIRECTORS.—Joseph F. Guffey (Pres.), E. N. Gillespip (V.-Pres.),
D. Callery, Carroll Miller (V.-P.), H. K. Bragdon (Sec. & Treas.),
Pittsburgh, Pa.—(V. 112, p. 58, 71, 377, 1287, 1871, 1982.)
J.
657.
p.
110, p. 875; balance sheet as of Nov. 30
1920, &c„ V. 112, p. 657, 853.
Gross earnings
1919.
1918.
1917.
.$97,431,516 $85,904,306 $70,499,403
62,130,188
49,779,314
41,013,567
29,485,838
35,301,328
36,124,992
11,723,450.
19,305,251
16,677,064
1,111,640
4,535,223
6,865,331
5,000,000
2,074,320
27104.513
2.082,104
-
Operating expenses
Net earnings
.
.
.
.
Depreciation reserve
Interest, taxes, &c
.
-
.
Dividends (6% per annum)
D. W. GRIFFITH, INC.—(V. 112, p. 377.)
STOCK.—Authorized and
purchase bonds upon tenders during each Dec. at not exceeding 103 X to
Dec. 31 1926 and thereafter at not exceeding 102 X to Dec. 31 1932.
To the
by tenders, bonds shall be called by
lot for payment on the succeeding Feb. 1 (except in 1933) at the current
redemption price.
extent that this fund is not exhausted
Reserve for war taxes-.
GUANTANAMO SUGAR CO.—Incorp.
in N. J. Feb. 9 1905. Owns
about 56,000 acres of sugar lands situated at Guantanamo, Cuba, together
with a majority of the capital stock of the Guantanamo RR. Co. (Compare
listings application in V. 111, p. 701).
CAPITAL
A sinking fund of $2,000,000 p. a. commences on Dec. 1 1923, to be used to
Balance, surplus
Pres., W. L. Mellon.
"uULF
ware
._.i
$9,356,340 $10,500,493
_
Office, Pittsburgh, Pa.—(V. 112,
p.
$9,576,426
657,853,1029.
STATES STEEL CO.—ORGANIZATION.—Incorp. In Dela¬
as successor of Southern Iron & Steel Co. (foreclosed)
Nov. 1 1913
,
Ser plan in V. 97. p. 1119. Owns mill, furnaces, open-hearth steelAc., at
plant;
looming mill, rod mill, merchant blast wire mills, machine shop,
Alabama City, Ala., and also coal mines at Altoona, Sayre ana Virginia,
Ala., and iron ore mines at Shannon, Ala.
Its products are barbed wire,
galvanized wire, bar steel, billets, rods and wiro nails.
V. 101, p. 128, 776.
In Jan. 1918 purchased Sayre coal property, 15,000 acres.
V. 105, p.
2547; V. 106, p. 1457.
STOCK.—First
pref., $3,000,000; In treasury Dec. 1920, $1,000,000;
There was formerly $4,000,000 2d pref. stock,
but in Dec. 1920 all except $82,100 had been converted into common, share
for share.
V. 108, p. 12/0.
Common stock auth., $12,500,000; outstand¬
outstanding, $2,000,000.
ing in Dec. 1920, $11,138,150; in treasury, $277,750.
The voting trust agreement of Dec. 1 1913 expired Dec. 1 1918, but was
extended till Dec. 1 1921 (subject to earlier termination at any time, at
option of the trustees), as to 12,626 shares of First Pref. stock, 350 share
of Second Pref. and 69.534 shares of Common stock held.
Voting trustees,
Alexander J. Hemphill, Alfred A. Cook and John W. Platten, and the
depositary, the Guaranty Trust Co. of New York.
V. 107, pi 2101. 2298.
Dividends .—After paying first pref. accums. (15 1-6%). Oct.
1913-15.
'16.
'17.
'18.
1919.
First preferred
(%)
Second preferred
Common (%)
Common
See above
(%).
*
(extra)...........
April 1919
a
-
-
7
7
4X
...»
«...
......
7
7
6
10 Apr.,1%
1X&1*B-C.25stk.
6
6
8
1916
1920-21.
See
text
....
quarterly common dividend of 1 % was paid; none since.
Dividends on 1st Pref. stock paid in full to and in¬
On 2d pref. paid in full to Oct. 1 1920.
V. 112, p.
V. 108, p. 883, 2333,
cluding Apr, 1 1921.
937.
Latest
Earnings.—Operating income for the quarter ending Mar. 31 1921
amounted to $35,255.
After taxes, depreciation and other expenses, the
operating deficit totaled $102,917.
V. 112, p. 1397.
REPORT.—For cal. year 1920, in V. 112, p. 1149,1397. showed:
Gross
Net after
1st Pref. 2d Pref.
Common Bal. Sur. or
Sales.
Depr., Ac.
Div.
Div.
Dividend.
Deficit.
$11,439,627 *$751,220 $140,000
$5,046
...sur$606,174
1919
8,405,788
♦279,421
140,000
5,142
111,136 sur.23,143
1918.... 11,206,468 *1,191,662
140,000
17,474
1.037,999ydef.3,811
1917.... 11,763,476 *2,871,479
140,000 64,543
874,188surl,792.748
Calendar
Years—
*
After deducting reserve for Federal taxes, depreciation, &c.
y Also
paid a 25% dividend ($2,222,250) in common stock.
Chairman, James Bowron; Pres., Chas. A. Moffett; V.-P. & Treas.,
A. R. Forsyth; Sec.. W. H. Moore.
Office, Brown-Marx Bldg., Birming¬
ham, Ala.: N; Y. office, 55 Cedar St.—(V. 112, p. 475, 937, 1029, 1149,
1397, 1871.)
■HABIRSHAW ELECTRIC CABLE CO.—Incorp. in Del. on Feb. 28
1920.
A holding company having acquired by exchange of stock a large
majority of the stock of Tne Electric Cable Co , Habirshaw Electric Cable
Co
Inc
and The Bare Wire Co
Inc
Proposes to become an operating
company when upwards of 90% of the pref and com stock of its subsidiary
companies has been acquired, when the latter will bo dissolved,
,
,
,
CAPITAL STOCK —See the table at head of page
DEBENTURES —The convert deb 7s Series "A" are convertible Into
stock at the following rates for each $100 face value of debentures:
1 1925, four shares; thereafter to Mar 1 1930, three shares;
thereafter to maturity, two shares
Subject to call as follows: to Mar 1
1925, 110; thereafter to Mar 1 1930,107 X J thereafter to Mar, 11935,105.
common
Up to Mar
GULF
OIL
CORPORATION.—ORGANIZATION.—Organized
in
1907 and through its subsidiary conducts an active business in producing,
refining, transporting and distrbuting petroleum and its products.
Owns
and operates (a) producing wells, with its own connecting pipe lines, in
Texas, Oklahoma, Louisiana, Kansas and In Mexico: principal refineries
located at Port Arthur and Fort Worth, Tex., have a dally capacity of 60,000
febla. of crude oil; (b) a large fleet of tank steamers and other ocean-going
equipment; (c) distributing stations "at practically all of the Atlantic sea¬
port cities and at inland points over a large area of country."
STOCK.—Auth..
$60,000,000; outstanding.
$36,093,100,
Including
$22,416,400 issued in 1913 at par and to the extent of 50% paid for option¬
ally with proceeds of 100% dividend.
mature $6,000,000 yearly on July 1 1921 to 1923, without option of prior
redemption.
No mortgage while these are outstanding.
Gulfoil SS.
bonds in 1920, $125,000.
The
,
,.
,
,
bonds are redeemable as a whole at
Feb. 1 1927 and at 102 X and int. thereafter.
7% sinking fund debenture
103 X and int. on or before
.
DIVS.—Initial quar. div. of 37 X cents a
same amount paid Oct. 1
paid July 1 1920;
1921 div. omitted.
share on common stock was
1920 and Jan. 1 1921; April
(
OFFICERS.—Pres. & Treas. J. Nelson Shreve;
bury; Sec., John S. Keith.—V. 112,
HACKENSACK
WATER
p.
V. Pres., G. F. Water-
1521.
CO.—ORGANIZATION.—Incorp. under
number of cities and towns
laws of New Jersey In 1869.
Supplies water to a
Hudson and Bergen counties, New Jersey,
in
CAPITAL STOCK AND BONDS.—See table at head of page.
The
7% pref. stock is cumulative and participating.
Redeemable at 110 after
3 years from date of issue.
The 6% pref. stock is exchangeable, share for
share, for 7% pref. stock.
DIVIDENDS.—Dividends at the rate of 7%
paid on both classes of stock.
(3X% s.-a.) are being
Pres., Robert W. de Forest; V.-P., Myles Tlerney; Sec. & Treas., Earls
Talbot.—CV. 109, p. 1529, 1703; V. 110, p. 171, 875, 2391.)
&c.f see notes on page 6)
Par
Amount
Rate
When
Value
Outstanding
%
Payable
Harbison-Walker Refractories Co—Common stock......
Preferred stock 0% cumulative
Hart, Schaffner 6c Marx—Common stock $15,000,000
Preferred (a A d) stock 7% cumulative 85.000.000
Mart man Corporation—Capital stock $12,000,000
Haskell & Barker Car Co—Stock 250,000 shra
Havana Tobacco Co—Bonds $10,000,000 gold
x
Heitne (Geo W) Co—Common stock
Preferred stock (a A d) $4,000,000 7% non-cum
Hendee Manufacturing Co—Com stock $10,000,000
—
Pref (a A d) cumul convert call $2,500,000
Hercules Powder Co—Common stock auth $10,000,000—.
Pref stock 7% cum $10,000,000 red 120 Nov 15 beg 1915—
Honiestake Mining Co—^toob 825.1 Ift.noo
Houston Oil Co—Common stock certif $25,000,000 auth..
Preferred stock certificates 6% cumulative
Accrued dividend certifs (see text) $2,394,016 authorized.c*
&
KILBURN
See text
100
100
15,000.000
3,314.000
12,000.000
220,000shea
7.500.000
4,000,000
4.000.000
10,000,000
100
1,000,000
100
100
7 150.000 See
100
100
None
'
1902
1.000
100
100
:
1912
'
'
500
7 in
7 in
Q—J
Q—M
Q—J
ii
•
i
•
<
i
11:
Mar 31 '21
1920
•
May 31 *21
1920
*i
Payable
$4 in '20
J
5 g
Guaranty Trust Co, N
Apr 1 '21 24% Checks mailed
Checks mailed
Apr 1 1921 1*4
D June 1 1922
&
20
14 In
1%
1*4 Checks mailed
June 11921 1*4 Chicago, 11
Apr 1 1921
$1
Q—J
Q—J
7
f
........
Q-—J
2",394",016
Y19214H
Ape
Q—M
3% Checks
Mar 25 '21
Q—F
text
Nov 15 *20
7
mailed
do
do
14
'21 25c
text May 25
See
25,000,000
100
Ac
Q—M
1920
2ft.116.000
100
<pi mmm
4 in
6,628,600
100
■■
"
HALE
6
100
Dividends are
and Maturity
text Q—M 15 June 1 1921 14
June 20 '21
1 4
Q—J
$100 $27,000,000 See
■m*.
Places Where Interest and
Dividend
Last
Date
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations,
[Vol. 112.
STOCKS AND BONDS
INDUSTRIAL
184
te*
:
F
6
A
New York and Baltimore
1 1925
A Feb
'
oref.. 5% non-cum., $5,000,000; outstanding,
$29,790,941; pref., $4,703,800; par of shares. $100.
On Dec. 31 1920
$296,200 of pref. and $209,059 of com. stock held in treasury.
Bonds, $10,000,000 20-year gold 5s, of which $2,500,000 not issued. Report
for calendar year 1920 shows: Divs. received, $312,175; expenses, $141.165;
int. on bonds, $375,000; bal., def.. $204,290.
Treas., George G. Finch.
Office, 111 Fifth Ave.. N. Y.—(V. 112, p. 1621.)
Stock, com., $30,000,000;
CO.—(V. Ill, p. 797. 920. 2143.)
com.,
.
HARBISON-WALKER REFRACTORIES CO.—ORGANIZATION.
—Incorporated June 30 1902 In Pa.
Manufactures fire-clay products. Ac
Has 34 plants, embracing 400 kilns; total dally capacity, 1,500.000 brick
Plants are located 25 In Pa., 6 In Ohio and one each in Ky., Ind. and Ala.
STOCK.—Authorized and Issued *9,600.000 6% cumulative pref. and
$27,000,000 common stock, par each $100.
No bonded or funded debt.
had adopted a reso¬
empowering the directors to purchase the outstanding preferred stock
($9,600,000 auth. and oustanding) at such a time and to such an extent a*
surplus may permit.
The company declared a stock dividend of 50%, payable in common
stock July 1920, increasing the outstanding common stock to $27,000,000.
Announced in September 1920 that the stockholders
lution
there
was
HAYTIAN-AMERICAN CORPORATION.—(V. 112, p.
DIVIDENDS.—
]
Regular
190£09.
'16. *17. '18.
2% yrly 2^ 6H
None
|
Extra
Paid in
full to July 1921, 6%.
4
.
f
6
6
18
'19. 1920. 1921.
6
6
text
50 stock
6
1921: Mar. 1, 14%'. June 1, 1 4%.
Net earnings, after all taxes
$3,719,786
Net. after repairs and depreciation.$2,869,996
Dividends on preferred stock (6%)
495,538
$5,002,457
$3,114,477
576,000
$9,419,037
$5,504,957
720,000
1,242.050
(12%)
2,160,000
(12%)
2,430,000
(134%)
Dividends on common stock
Rate
on common
10
10
2
2
4
Net
earnings
(7%)
$378,477 $2,354,957
$12,750,509 $12,372,032
——
OFFICERS.—H. W. Croft, Chairman; J. E. Lewis-Pres.; O. M. Reif,
Hamilton Stewart and Nin McQuillen, Vice-Presidents; Wm. Walker, Treas.
and P. R. Hllleman, Sec.
4
'19. 1920. 1921.
10 10 24.24.-.4
4
—
showed:
1917.
$917,971
280,000
$1,074,702
280,000
(10)400,000 (14)560,000
(14)560,000
CO.—ORGANIZATION.—Incorp.*
MANUFACTURING
HENDEE
Oct. 4 1913 in Massachusetts, successor to company
at London and
$77,971
111 Fifth
of same name.
Manu
Plant at Springfield, Mass. Branches
Chicago, III.
CAPITALIZATION.—Pref. stock is convertible into Common share
Callable as a whole only at 125.
No mortgage without consent
for share.
$4,882,918 $12,750,509 $12,372,032
Total surplus.-.
10
4
Balance, surplus
$522,550
$414,967
$394,702
+ After provision for estimated Federal taxes, &c.
Pres.. Otis Smith; Sec. & Treas., E. D. Christman.
Office,
Ave.—(V. 112, p. 1281.)
factures the "Indian Motorcycle".
Balance, surplus
$1,132,409
Total, * ncluding previous surplus...>$13,882,918
Common dividend, stock (50%)
9,000,000
*18.
10
t$l,362,550 t$l,254,967
280,000
280,000
Common dividends...(14%)560,000
Year to
15 Mos. to
Dec. 31 '19. Dec. 31 '18.
Year to
Dec. 31 '20.
*15.
10
__
REPORT.—Report for cal. year 1920, in V. 112, p. 1281,
1920.
1919.
1918.
Preferred dividends
v
1920 shows:
REPORT.—For year ended Dec. 31
/
January I
'16. *17.
'14.
/T3.
%{ 10
On common
extra In
DIVIDENDS.—On preferred. 1902 In
On Common— (
1910-14. *15.
1621,1982.)
(OEO. W.) HELME CO.—ORGANIZATION.—Incorporated In New
Jersey Deo. 4 1911 and took over snuff factories at Yorklyn, Del., and Helmetta, N.J..formerly owned by Amer. Snuff Co. V. 93, p. 1605; V.94.P.282.
Office, Pittsburgh, Pa.—(V. 112, p. 166, 1149.)
of outstanding Pref. stock.
of 75%
Both classes have equal voting power.
A total of $1,500,000 preferred stock has been retired leaving $1,000,000.
The difference between the original amount authorized, $2,500,000 and the
outstanding was retired under the terms of the Sinking
provided in the Articles of Organization.
Quarterly divs. of 14%
paid on the Pref. stock since Jan. 11914 to Apr. 1 1921, incl.
$1,000,000 now
fund
as
have been
in
V.
HART, SCHAFFNER & MARX, INC.—ORGANIZATION.—Incorp.
N. Y. May 11 1911, succeeding firm manufacturing men's clothing.
92, p. 1376.
To make women's coats, V. Ill, p. 594.
Pref.
is
$500,000 to be retired on or before July 1 1921 and $500,000 during 5-year period*
thereafter.
No mtge. without the consent of 75% of the oref. stock.
V. 92, p. 1376, 1439, 1639.
Pref. stock originally issued, $5,000,000; had
STOCK.—Common stock, $15,000,000; par, $100; pref., see table.
redeemable In whole or part at 120 and accrued dividends, at least
sinking fund,
been reduced to Nov. 1920 to $3,314,000 by the
DIVIDENDS.—On
pref. in full to Mar. 31 1921 IncL. 7% (1*4% quar.).
1921,1% quar. (4% per annum).
REPORT.—For year ending Nov, 30 1920, in
Common dividends (4%).
600,000
Redemp. pref. stock, &c_t3,314,000
1918-19.
$2,200,218
232,689
600,000
317,620
V.T12, p. 468, showed:
1917-18.
1916-17.
$1,481,015 $1,603,762
234,617
240,843
600,000
600.000
367.111
198,509
—def$2,132,925sr$1,049,909 sur$279,287 sur$564,411
Balance
Years Ending Aug.
OFFICERS.—Pres., H. Hart; V.-Ps., Max Hart and Alex M. Levy;
Treas., W. M. Cresap.—(V. 112, p. 468.)
Sec. &
CORPORATION.—ORGANIZATION —Incorporated in
In Jan. 1916 and acquired the capital stock of the Hartman Furniture
Carpet Co. of Chicago and affiliated companies.
V. 103, p. 2337.
Con¬
ducts a mail order and retail business in the Middle West.
Capita) stock.
$12,000,000 (all one class).
V. 103, p. 2337,148.
Dividends: Sept. 3 1917
to Dec. 31 1919, 5% per annum (14% Q.-M.); March 1920 to June 1921,
1*4% quar.
va.
&
REPORT.—Combined results year 1920 in V. 112, p. 1282:
Calendar Year—
Net Income.
Interest.
Dividends.
Surplus.
—
—
1919
1918
.
1917
$1,975,209
2,328,292
816,989
509,310
$116,006
41,068
21,656
.
(7%)$840,000
(5%) 600,000
(5%) 600,000
(2*4) 450,000
.
$1,019,203
1,687,224
195,333
59,316
OFFICERS.—Pres., Max Straus; V.-Pres., Milton L. Hartman and I. H*
Hartman; Sec. & Treas., E. G. Felsenthal; Asst. Sec. & Treas., Harry A
Cohen.
Office, 3913 Wentworth Ave., Chicago.—(V. 112, p. 657,1282..
HASKELL
Y.—ORGANIZATION.—In?
&
BARKER CAR CO., N.
Mrporated in N. Y. Jan. 12 1916 with 250,000 shares of authorized capital
tfcock, 220.000 outstanding (no par value), to succeed the Haskell A Barke.
Oar Oo. of Michigan Oity, Ind., organized 1852.
Plants at Michigan City
Ind.. have capacity of between 15.000 and 20,000 cars, both wood and steel
\
DIVIDENDS.—Jan. 1917 to April 1918
1918 to Apr. 1921 (quar.), $1 each.
(qnar.), 75 cents each; July
REPORT.—For year ending Jan. 31 1921, in V. 112, p. 1404: shows:
Jan. 31 Years—
1920-21.
1919-20.
1918-19.
1917-18.
Gross earmngs
$3,789,390
$3,743,131
$4,409,210
$2,634,192
Rep., renew., amort., Ac.
511,071
Res. for renew., repl., Ac.
300,000
($4)880,000
Dividends
615,478
472,294
293,333
300,000
350,000
300,000
($4)880,000($3 *4) 825,000 ($3) 660,000
Balance, surplus
a$2,098,319
$1,947,653
a Subject to payment of Federal taxes.
$2,761,916
$1,380,859
HAVANA TOBACCO CO.—ORGANIZATION.—Incorporated In
Jersey on May 28 1902 as amalgamation, per plan In V. 74. p. 1142.
New
The
Cigar Co., It is understood, owns a majority Interest In the oomstook and $3,696,000 of $7,500,000 bonds.
V. 85, p. 287.
Amer.
1917-18.
1916-17
$740,691
$539,755
914,718
484,391
235.699
Office, Springfield,
HERCULES POWDER CO.—ORGANIZATION.—Incorp. in Dela¬
Oct. 18 1912. and took over,as of Jan. 1913. per plan of disintegra¬
tion, part of the properties of the E. I. du Pout de Nemours Powder Co.
<V. 94. p. 1386. 1629.1698; V. 95. p. 969).
Half of the stock received by
the 27 defendants in the dissolution suit is without voting power.
Acquired
control of the Yaryan Rosin & Turpentine Co. in 1920.
V. 112, p. 847.
To acquire Aetna Explosives Co.
V. Ill, p. 2047, 2330; V. 112, p. 203,
1026 1982.
'14. '15.
Common Dividends—
-—.-1— 0
Red Cross (%)
do
8
8
8
Regular (%)
Extra, cash (%)
8
39H
....
Anglo-French bonds, total (%)
..
...
474
95
Paid in 1921: March 25, 2% and 1% extra.
do price at which taken
..
..
REPORT.—Year 1920, in V. 112, p. 847
Gross
Net (All
Preferred
Sources). Dividends.
Year
Receipts.
$492,250 $419,384
1920
.$20,384,866
1919
1918
1917
C.
.
..
.
.....
20,539,737
45,556,052
44,105,533
1,579,795
2,315,603
5,822,462
8
14
1
47
94
#
1920.
8
8
8
8
8
8
1
--
—
—
--
—
..
—
..
.. ..
..
..
--
..
—
showed:
Calendar
-
'19.
1916. '17. *18
Common
Dividends.
Balance,
Sur. or Def.
;i6)$l ,144,000 def$l,071,134
374,500 [16) 1,144,000 sur
61,295
725.051
374,500 [17) 1,215,500 sur
442,904
374,500 [70) 5,005,000 sur
Pres., R. H. Dunham; V.-P., T. W. Bacchus, J. T. Skelly, G. H. Markell.
D. Prickett, N. P. Rood: Sec. & Treas., H. H. Eastman.—(V. 112, p.
263. 750. 847, 853, 938.
1029, 1982.)
HERRING-HALL-MARVIN SAFE CO.—(V. Ill, p. 2330; V. 112, p.
938.)
■
:
" ,■
•
•*: V>. '
HOCKING VALLEY PRODUCTS CO.—(V. 112, p. 475. 1276.) v
HOMESTAKE MINING CO.—Incorp. In California Nov. 5 1877. Owns
4,000 acres, located in the White Wood Mining District, near Lead,
So. Dak., where the company has a large gold mining
plant. Including reduction workB, stamp mills, electric plants, Ac.
over
Lawrence County,
DIVS (1910 to 1912.
1913.
1914 to 1910.
1917.
,1918.
Since*09(50c. monthly 65c. monthly 65c. monthly 65c. mthly 50c. mthly
Extra
None
15% stock
$1 yearly
None
...
Jan. 1918 to Sept. 1919. 50 cents monthly.
In Oct. 1919 dividends
—
suspended, owing to a fire that necessitated flooding
109, p. 1529.
Payments were resumed on May 25
were
V.
tribution of 25 cents a share.
REPORT.—Report for year ending
Total income, $6,121,347; oper. exp.,
to the sixth level.
1921 with a dis¬
•
Dec. 31 1918 In V. 109. p. 171.
taxes, Ac.
$4,399,197; deprec n, Ac..
$1,416,733: dividends, $1,506,960; deficit, $1,201,543.
Pres.. Edward H. Clark. N. Y.:
V.-P.. F. G. Drum. San Francisco;
Treas., L. T. Haggin. N. Y.; Sec., Fred. Clark. San Francisco. Oal. Office
Room 910 American Nat. Bank Bldg., San Francisco, transfer agents.
Columbia Trust Co., N. Y.—(V. 112, p. 2088.)
HOOD RUBBER
CO.—(V. 112, p. 938.)
HOUSTON OIL CO. OF TEXAS—Incorp.
Owns the oil and gas rights on 793,228 acres of
July 5 1901 in Texas.
land in Texas. The fee
together with all mineral rights thereon other than oil
and gas was sold in 1915 to the Southwestern Settlement A Development
Co. (not incorporated).
■
,
The stockholders in Nov. 1916 ratified the acquisition by the Federa
Petroleum Co. and the Republic Production Co. of an undivided halfinterest in the mineral rights retained by the company and also in those sold
to the Southwestern Settlement A Development Co.
The Federal Petro¬
leum Co. and the Republic Production Co. assumed the management and
control of the company's oil development in Dec. 1916 under this agreement.
simple of the lands
OFFICERS.—E. F. Carry, Pres.; Chas. A. Liddle, V.-Pres.; H. E*
Harding, V.-Pres.; T. C. Curtis, Sec.: David A. Crawford, Treas.
Office
Chicago, IH.—(V. 112, p. 1404. 1621.)
tnon
1918-19.
$1,454,717
651,384
Pres., Henry H. Skinner: Treas. Frank J. Weschler.
Mass.—(V. Ill, p. 1570, 1665 )
t Amount of good will written off, $5,000,000, less pref. stock redemption
applied thereto.
1920—
V. Ill, p. 1570.
$892,582
Bal. after Pref. divs. and taxes.
fund of $1,686,000
HARTMAN
1919-20.
31—
profits
ware
Common div. Mar. 1 1916 to May 31
1919-29.
Total profits
_$2,013,055
Preferred dividends (7%)
231,980
REPORT.—For fiscal year 1919-20 in
Net
.
MAY, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
[For abbreviations, &c.,
see
notes
on
page
STOCKS AND
Date
Refining—Capital stock $25,000,000
Two year gold notes redeemable 100 H
Q
Hupp Motor Car Corp—Common sioca aiun $6,500,000
Pref stock 7% cum conv auth $1,500.000 call 120 A dlvs
Hydraulic Power Co of Niagara Falls—See Niagara Palls
Hydraulic Steel Co—Common stock 500.000 sharesauth__
Preferred stock 7% cum conv red 102H $6,000,000 auth__
Ten-year s f gold notes red 107 M
xxxcf
Illinois Bell Telephone—Stock $40,000,000 authorized
1st M $50,000,000 g red 105 since Dec 1 1913 -FC.xxo'&r*
Illinois Pipe Line Co—Stock $20.000,000
Indiana Pipe Line Co—Stock $5.000.000
Ingersoll-kand—Common stock $15,000,000 authorized
Pref stock 6% cum (a & d) option (see text)
First mtge $5,000,000 gold red 105 since 1911
N.xc*Ar
Par
Amount
Rate
When
Last
Dividend
Value
Outstanding
%
Payable
and
Maturity
500
939,100
100
1908
1.000
3,500,000
40,000,000
19.004.000
&c
100
50
100
1906
100
CAPITAL STOCK.—Certificates under the terms of a Readjustment
Plan dated July 1911. the Readjustment Managers assigned to the Mercan¬
tile Trust A Deposit Co. of Baltimore, trustee, under a Readjustment and
Voting Trust Agreement, all the pref. and com. stock deposited with them,
against which were issued Certificates of Beneficial Interest.
Under this
agreement, the divs. accrued to Jan. 1 1912 were separated from the pref.
stock by the issue of (a) Pref. stock certificates carrying 6% divs. from Jan. 1
1912, which were issued for pref. stock par for par (o) accrued div. certificates
which were issued for the divs. unpaid to Jan. 1 1912.
The certificates
have priority, both as to principal and interest, over the pref. stock and are
redeemable at any time upon payment of principal and all interest coupons,
whether matured or unmatured, attached thereto.
DIVS.—At the end of 1911 accumulated divs.
on pref. stock amounted to
Payments were resumed on Aug. 1 1912 with a div. of 3%, which
paid semi-annually to Feb. 1 1921.
The 54% back divs.
were paid with an issue of $2,394,016 6% Accrued Dividend Certificates
(See above).
54%.
Ac
V.-Pres., E. H. Buckner and
Treas., L. S. Zimmerman.
John F. Shepley; Sec. Auditor, A. H. Kennerly;
—V. 112, p. 657, 1287, 1982.
HUMBLE OIL & REFINING CO.—ORGANIZATION.—Incorp. la
1917 in Texas,
fclas large holdings of well selected leases upon lands in all
of Texas and has considerable holdings in Louisiana, Oklahoma
sections
Output in March 1921
was at
wells
the rate
undeveloped
drilling, 80.
1^029.
STOCK.—The Standard Oil Co. of N. J. owns 50% of the Capital stockThe company in Oct. 1919 had arranged to increase its stock from $8,200,000 to $25,000,000, and having set aside $400,000 of the new stock for sub¬
$16,400,000 to shareholders
A
at par, $100 a share, and
scription by employees, offered the remaining
of record Oct. 28, $10,250,000 of it as Series
,
$6,150,000 Series "B
at $250 a share.
V. 109, p. 1703.
Stock of Series
shall be entitled to receive one-third of the
per-share quarterly dividend
"A
that may be paid for the quarter ending Dec. 31 1919; stock of Series "B
shall be dated as of the date final payment in full is made on the respective
stock
subscription and shall be entitled
per-share dividend payable at the close
final payment is made that the portion
date of such final payment bears to the
to receive that
proportion of the
of the quarter during which such
of said unexpired quarter at the
entire quarter.
V. 109, p. 1896.
The company is understood to have paid liberal dividends but no record is
available.
Balance sheets as of Dec. 31 1920 in V. 112, p. 1029.
Two-year notes of 1921, V. 112, p. 1029.
President, R. S. Sterling, Houston, Tex.—(V. 112, p. 1029, 2088.)
HUPP MOTOR CAR CORPORATION.—ORGANIZATION.—Inc ou
Nov. 24 1915 In Va., to make automobiles and take over the business and
properties of the Hupp Motor Oar Oos. of Detroit and Canada. and th*
Amer. Gear A Mfg. Co. of Michigan.
V. 101. p. 2074: V. 102. p. 2079.
Also
owns or
controls, through stock ownership, the following: Hupmobile Co. of New York, Inc.; Hupmobile Co. or New England, Inc.;
Hupmobile Co. of Nebraska, and Detroit Auto Specialty Corp.
$10, prior to Jan. 1
1919.
Jan.
name of the Chicago Telephone Co. was changed on Dec. 23 1920 to
Illinois Bell Telephone Co. V. Ill, p. 2232, 2427; V. 112, p. 378.
American
Tel. & Tel. Co. owns $39,369,700 of the $40,000,000 stock. V. 93,
1467
p.
1791.
Franchise granted 1907, expiring Jan. 8 1929, provides that 3%
of
gross earnings are to be paid to city annually.
City may purchase proper¬
ties Jan. 1 1919 or 1924 at price 5% In excess of cost of duplication.
V. 85.
1211.
Stations Sept. 30 1920, 690,298. Rates, V. 106, p. 2124; V. 107,
1749; V. 108, p. 2531; V. 109, p. 2266; V. 110, p. 973; V. 111, p. 192.1952.
p.
p.
Tentative valuation, V. 111, p. 1854.
STOCK.—Holders of record Aug. 31 1918 were offered the right to sub¬
scribe at par for $4,000,000 new stock.
V. 104, p. 1390; V. 1C&, p. 2760.
DIVIDENDS.—For many years 10% yearly; slnoe Deo. 1908 2% quar.
20%); 1909 to Mar. 1921, 8% (Q.-M.).
(•took div. Oct. 1908,
BONDS.—Bonds autnorlzed, $50,000,000.
In 1908 $5,000,000 were
•old and In Apr. 1912 $14,000,000.
Additional bonds oan be Issued slnoe
Deo. 1 1909 at rate of $5,000,000 yearly,
Amount of bonds cannot exceed
50% of total assets nor more than 60% of the real estate and construction
accounts.
Subject to these limitations, further amounts may be Issued up
•o 75% of the cost of Improvements. Ac.
V. 87. p. 742.1607; V. 94, p. 1905.
Other funded debt Sept. 30 1920: Real estate notes, $37,000.
REPORT.—The annual report for the year ending Dec. 31 1920 shows
operating revenues of $33,201,708, against $11,793,239 in 1919; net income,
$1,426,461, compared with $3,032,180, and a deficit after dividends of
$1,773,539, contrasted with a deficit in 1919 of $167,820.
The total sur¬
plus Dec. 31 last, It Is stated, totaled $629.980.—(V.112, p.378, 658, 750.)
ILLINOIS NORTHERN UTILITIES CO.—See "Elec. Railway" Seo.
ILLINOIS PIPE LINE CO.—ORGANIZATION.—Incorporated In Ohio
on Nov. 301914 and took over as of Jan
1 1915 the ptoe line owned by Ohio
OU Co., extending from Wood River. HI.. to Oenterbrfdge on PennsylvaniaNew Jersey boundary line, about 900 miles, joining at that point the line
of the Standard OU Co. leading to the Bayonne refinery.
reaches the Solar Refining Co. s plant at Lima. O.
Also
The line also
has line from
Stock. $20,000,000. all distributed
V. 99, p. 1678, 1913; V. 100, p. 144.
Martinsville. 111., to Preble. 182 miles.
stockholders of Ohio Oil Co.
among
LATE DIVS.—
Percent
—
1915.
5
1916.
39
1917.
22
1918.
1920.
18
1919.
16
14
1921.
text
In
1921, June 30, 8%.
Report for cal. year 1920, in V. 112, p. 1404,
shows: Net profits, after depreciation, $6,324,092; divs. (18%), $3,600,000;
reserve for Federal taxes, $906,722; surplus for year, $1,817,370.
V. 112,
p. 1404.
Pres., W. A. Miller, Lima, O.; V.-P. & Treas., W. E. Badger; Sec., O. F.
Moore, Findlay, O.—(V. 112, p. 1404, 2196.)
IMPERIAL OIL CORP.—(V. 112, p. 750, 938, 1149, 1982, 2088.)
IMPERIAL OIL LTD. OF CANADA.—(V. 112, p. 378.)
IMPERIAL TOBACCO CO.
2112, 378, 854.)
OF GREAT
BRITAIN,
&C—(V.
112-
1NDIAHOMA REFINING CO.—(V. 112, p. 1288, 1404, 1422.)
INDIAN PACKING CORP.—The property and assets of this company
sold to the Acme Packing Co. in Jan. 1921 and the company dissolved.
were
—(V.
112, p.
263,
658,
938.)
INDIAN REFINING CO., INC.—(V. 112, p. 854, 1288.)
INDIANA
No bonds
1916 to
last installment.
REPORT.—Far year ended June 30 1920, in V. Ill, p. 985, showed:
1919-20.
1918-19.
1917-18.
Net profits after taxes___
$2,668,299
$535,603
$836,691
Pref. divs. (7% per annum)
66,586
79,030
91,553
Common dividends
259,605
Balance sheet as of Dec. 31 1920 in V. 112, p. 1872.
ois
R.
& ILLINOIS COAL CORP.—See Chicago & Eastern Illin¬
R. and V. 110, p. 464.
INDIANA PIPE LINE CO.—ORGANIZATION. AO .—Incorporated in
Indiana in 1891.
Owns pipe lines in State of Indiana.
by Standard Oil Oo. of N. J., but segregated in 1911.
4
DIVS.——_
Regular
Extra
Feb.
1912.
1914.
1915.
32
%. 20
_%
1920 paid 4%
1913.
27
16
OFFICERS.—Chairman of Board, J. W. Drake; Pres
C. D. Hastings;
V.-Pres., Dubois Young; V.-Pres., Sec. & Treas., A. von Schlegell.
N. Y.
office, 25 Broad St.—(V. 112, p. 1149, 1872.)
regular and 4%
as well as to dividends and
Convertible into common stock at $45 to Apr. 1
1921 and at $50 thereafter.
A semi-annual sinking fund of $150,000 com¬
mences Jan. 1 1922.
Pref. stock has no voting power.
Dividends.—Initial div. of 75 cents quar. paid on common stock on Apr. 1
1 1920 and Dec. 31 1920.
same amounts paid June 30 1920, Oct.
April 1921 div. was omitted.
Notes.—See V. Ill, p. 1857.
1920;
1919.
OFFICERS.—D.
1918.
-
1917.
S.
Bushnell, Pres.;
R. A.
Miller, V.-Pres. A Gen.
Mgr.; George Chesebro, 8ec.; W. F. Livingston. Treas.
Main office,
p.
Huntington, Ind.
67, 750, 854.)
N. Y. office, 18 B way, N. Y.—(V. 112,
INGERSOLL-RAND CO.—ORGANIZATION.—Incorporated in N. J.
Jane 1 1905 and
Owns plants at
Post. N. Y.
acquired Ingersoll-Sergeant Drill and Rand Drill companies.
PhJllipsburg, N. J., Easton and Athens, Pa., and Painted
; also V. 84, p. 867; V. 85. p. 465.
Cana¬
See V. 83. p. 117
year
STOCK.—Authorized
issue,
$15,000,000. V.
out of wages.
V. 103,
DIVIDENDS—
p.
1911.
p.
255,
440,
1439;
2240.
1912.
'13.
'14.
'15.
*16.
'17.
T8-'20
'21.
%
5
5
5
5
15 50
30
10 yrly
See
stock—% 25%
25%
20%
----text
On Dec. 29 1915 paid 10% extra in cash as shown and In April 1916 30%
In cash and 20% in com. stock.
On Dec. 28 1916 20% cash: 1917. April.
20%; Dec., 10%.
1918, Apr. 30, 5%; Oct. 31, 5%.
Apr. 30 1919. 5%,
do
ended June 30 1920: Net
102,
V. 91. p. 719. 1028. 1098. 1388, 1515. 1632; V. 93. p. 874; V. 96. p. 139.
1232.
Common stock was Increased In April 1916 by 20% stock dividend.
In Dec. 1916. $750,000 new stock was offered to employees at 200, payable
Common cash
sales, $17,679,580; mfg. profit, $2,603,775; gen. expenses, Ac., $1,210,778;
interest, $219,813; prov. for Fed. taxes (1920), $153,000; prov. for profit
sharing, $87,000; pref. divs., $295,527; com. divs., $581,909; net profit.
May
extra.
1920, in V. 112, p. 750, 854, showed:
dian Co., V. 105, p. 824.
Capital Stock.—Pref. stock is pref. as to assets
is redeemable at 102H.
Report.—Consolidated income account,
*18. '19 '20
'21
16
16
16
See
8
3
4 text
1920 to May 1921
$958,301
$1,073,685
$1,146,233
$1,454,154
(16 %)800,000 (20) 1000,000 (21) 1050,000 (24) 1200,000
$158,301
$73,685
$96,233
$254,154
Balance, surplus
(THE).—Incorp. in Ohio on Dec. 2 1919
thereto.
year
1920.
Profits for year
Dividends
and took over the business, assets and
liabilities of its predecessors, The
Hydraulic Pressed Steel Co. and the subsidiaries of The Hydraulic Pressed
Steel Co., 1. e., the Canton Sheet Steel Co., the Cleveland Welding & Mfg.
Co. and the Hydraulic Steelcraft Co., which concerns were engaged in
manufacturing hydraulically pressed steel products, Ac.
The company is
directly engaged in manufacturing and fabricating and buying and selling
and dealing in steel, and is authorized by its charter to do the same with
other metals and metal products, as well as all other things which may be
—
Formerly controlled
*17.
16
4
paid 4% regular.
,
HYDRAULIC STEEL CO.
1916.
16
-
REPORT.—Report for cal.
Incident
Y
auth.,
$5,192,100 issued, balance reserved for pref.
or mtges. outstanding
July 1
1920.
Pref. divs.
Apr. 1921, 1H% quarterly.
Initial com. div. of 2H% paid
in Feb. 1920; to May 1921, 2H% quar.
Pref. is redeemable at 120 and
accrued div. at 3 months' notice on any div. date 3 years after issuance of
conversion.
N
the
com.
$6,500,000
'20 75c
&
BELL TELEPHONE CO.—Incorp. in Illinois Jan. 14 1881
as the Chicago Telephone Co.
On Dec. 1 1920 the Chicago Telephone Co
purchased the telephone plant and property of the Central Union Telephone
Co., within the State of Illinois, and in view of its wider field of operatione
Sref. stockVoting power: Pref. 10 votes,to purchase of stock at not exceed
outstanding) to be applied
ig 120.
1 vote for each share.
Com¬
mon,
Dec 31
Q—J
M
8g
IDAHO POWER CO.—(V. Ill, p. 194, 498; V. 112, p. 657.)
$192,100 pref. was converted; purchased
retirement to July 1 1920, $368,800; leaving outstanding
$939,100.
Sinking fund, $100,000 yearly (but not exceeding 120% of par amount ef
New York
ILLINOIS
p.
for
New York
1921 1X New York
Officers.—Chairman, A. W. Ellenberger; Pres., J. H. Foster; Treas.,
R. E. Hayslett; Sec., H. F. Pettee.
Office, Illuminating Bldg., Cleveland.
Ohio.—(V. 112, p. 1029, 1149, 1521.)
CAPITALIZATION.—Pref. stock. SI.500.000, all issued; 7% cum. anc
conv. into com. stock, one share of oref., par $100. for ten shares of com.
par
Apr 1
$55,746.
For 6 mos. ended Dec. 31 1920: Sales, $8,292,169; net profit,*
after int., deprec., &c., $328,298.
Bal. sheet Dec. 31 1920, V. 112, p. 1149.
amount has been
Wyoming.
ane
Payable
10,900,035 101nl920
Q—J
Apr 30'21
2H Checks mailed
&
J Jan 1 1921
2,525,500 6 in 1920 J
do
3%
J
A
5 8
J Dec 31 1935
1,000,000
Office 11
B'way,
100
July 1908, the amount or timber to be cut under this con¬
to 6,400,000,000 feet, the minimum semi-annual
pay¬
five-eights of amount specified in original contract.
The stockholders were to vote May 12 1921 on the adjustment of certain
controversies between the company and the Kirby Lumber Co., as outlined
in V. 112, p. 1982,
472,275 acres; producing wells, about 600;
Transportation facilities, &c., compare V. 112, p.
are
Mar 31 '21 \ %
N Nov 1 1930
New York
8
Q—M 31 Mar 11 '21 2% Ohlcago
J
&
5 g
D Deo 1 1923
First Jr * Bar Bk. Ck
&
D June30 '21,8%
20,000,000 18inl920 J
Findlay, Ohio
Q—P
5,000,000 20 In 1920
May 14 '21, 4% New York
Ac
100
reduced
acreage,
W—J
None 225,849 sh. See
text
100
7
6,000,000
1920
ments to be
and smaller holdings in
7
Co
ment effected in
of 40,000 bbls. a day; developed acreage, about 11,500 acres;
Dividends
Text
See
text
Text
See text
Ac $25,000,000
7 g
M &
SMar 15 1923
10
5,192.100 10 in '20
Q—P
May 1 '21 2]
100
Power
agree¬
OFFICERS.—Pres., Henry J. Bowdoin;
Places Where Interest
$100
1921
In 1901 the Houston Oil Co. contracted to sell to the Kirby Lumber Co.
about 8,000,000,000 feet of standing yellow pine timber of 12 inches and
up¬
wards to be paid for semi-annually at $5 per 1,000 feet.
Under an
was
185
Bonds
6]
Humble Oil &
tract
BONDS
since to
..
April 30 1921, 2
quar.
—
-
&c., see notes on page 6]
Inland Steel Co (new co)—Stock
Par
Amount
Bate
When
Value
Outstanding
%
Payable
1908
1912
1.000 Ac
$30.000,000,
Mtjge g due $150,000 yearly April 1
FC.c*
Exten £ Ref Mt«e $10,000,000 «kg fd call 103-XxFC.C^Ar*
Inspiration Consol Copper Co—Stock $30.000,000
International Agricultural Corp—Com stk $18,000,000 auth.
Prel stock (a & d) 7% cum $18,000,000 authorized
1st II A OoUat Tr sink fd bonds $30,000,000 red 103.Baxo*
International Cotton Mills—Com stock $5,000,000
Pref 7% cum red 105 for 3 years, then 115 ($10,000,000).
10-year sinking fund notes $5,000,000 call-OB.c*
let
Debentures—See text.
I n fern at Harvester Co.—Com stock $130.000.000
Preferred (a & d) 7%cum. $100,000,000. See V. 107, p.
REPORT.—For year 1920 shows:
1919
1920
983,157
1,892,918
50,000
151,518
1,089,595
10%)
BaL.sur.
Total
6,000,000
160,426
151,518
1,089,580
$9,674,182
858,582
3,452,815
173,000
151,518
3,268.600
(30%)
31 1920. $18,075,826.
OFFICERS.—Chairman, Wm. L. Saunders: Pres., George Doubleday:
1st. V-P-, Wm. R. Grace; Sec., Fred. S. Overton: Treas., Richard D. Purcell.
Office, 11 Broadway.—(V. 110, p. 171, 2197, 2295.)
INLAND STEEL CO.—ORGAN.—lncorp. in Delaware Feb.at Indians
6 1917 a#
of Illinois company, lncorp. In 1893, and owning (a)
Harbor works with a capacity of 1,000.000 tons of steel p.a. and al
net coking plant, (b) r1
50,000 tons of steel p
coal land 14 miles N.
successor
27 1920 voted to reduce the par
$25 a share and to exchange four
shares of new stock for each share held.
The proposal to reincorporate in
Illinois and to recapitalize, making the shares or no par value, was laid over
STOCK.—The stockholders on Jan.
value of the capital stock from $100 to
for future
consideration.
DIVIDENDS.—1917, Mar., 5%; June 1917 to Mar. 1920, incl., 8%
p. a. (2% Q.-M.).
In June, Sept. and Dec. 1920 paid a div. of 75c. a share
(3% on the new $25 par value stock).
In March and June 1921 paid 25
cents a share (1%).
Extra dividends: In May 1911, 1912 and 1913,
each 3%.
*
•
.
V. 87. p. 1162. Exten. & Ref. Mtge.
Subject to call at 103 A int., all or part. Annual sink
BONDS.—1st M. 6s of 1908. See
$10,000,000 auth.
in V. 112, p. 559, showed:
REPORT.—For calendaryear 1920,
J20.
19"
Calendar Years—
xNet
_
earnings
Depreciation,
Bond interest
Ac——I
\
$6,066,560
1.959,4991
Federal tax
—
2,763,905
Balance, surplus—
$1,343,156
Dividends
1919.
1918.
1917.
$6,830,146 $14,573,512 $21,240,783
1,424,052
1,953,713
1,769,166
340,981
353,250
436,549
7,000,000
8,500,000
2,001,560
2,001,060
1,999,820
$3,063,553
After reserve for Federal and other
taxes in previous years.
Chairman. L. E. Block; Pres., P. D.
x
Treas., W.
f). Truesdale.—(V. 112,
$3,165,489
$8,535,248
taxes in 1920 and 1919, but
before
Block; V.-P. & Sec., E. M. Adams;
p. 378,
475, 559.)
8% notes of Copper Export Associa¬
NOTES.—Guarantees $3,380,000
tion, Inc.
V. 112, p. 658.
($125 per share) was paid
10% quar., also July 30 1917.
104, p. 2556; V. 107. p. 2479.
1919 the quarterly dividend declared payable April 28 was reduced
(7M%);to Apr. 1920, 7^% quar.; in July and Oct. 1920 paid 5%.
DIVIDENDS.—An initial div.
In Mar.
of 6K%
V. Ill, p. 2526.
REPORT.—Fiscal year ending Dec. 31 1920 in V. 112, p.
1920.
1919.
1918.
Copper produced
Sales of copper
6,610,001
809,189
328,479
4,136,885
648,719
Other income
Dividends
Depreciation
mce, sur. or
1738:
1917.
(lbs.). 79,453,740 78,038,306 98,540,041
80,566,982
$10,033,707 $11,045,222 $17,516,323 $21,242,217
Operating expenses
Admin, exp. & Fed. taxes
9,615,367
272,523
237,698
7,091,802
348,633
10,739,579
1,065,743
290,063
9,455,736
750,000
10,417,411
1,236,176
177,144
9,751,228
750,000
def—def.l,842,609def2,905,173defl,226,573surl,329,505
14.173 cts.
13.412 cts.
11.259 cts.
10.439 cts.
Y.; Sec. & Treas., J. W. Allen.—(V. 112, p. 166,
Net cost of prod, copper.
Pres., O. F. Kelley, N.
658, 938, 1522, 1738, 1872, 1982.)
INTERNATIONAL AGRICULTURAL CORPORATION.—ORGANIZA¬
TION.—Incorporated on June 14 19091n New York. Owns one-half of the
of the Kaliwerke Sollstedt Gewerksohaft, owning potash mines at
Sollstedt, Germany (having sold one-half with an option outstanding in
Jan. 1912 on the remaining half), Prairie Pebble Phosphate Co., Florida, Ac.,
phosphate deposits In Tennessee and fertilizer factories in various States.
1450; V. 92. p. 1181; V. 94. p. 282, 1768; V. 97. p. 1895;
Had contract with the Tennessee Copper Co. for sulphuric
1419; V. 108, p. 2437; V. 106, p. 932,1482. Stock increase,
Potash supplies, V. 93, p. 287,231,1197; V. 94.
V. 92Jp. 959,1131,1181.
Properties o1
p. 70, 282.
Properties owned, Ac., see application to list, V. 100, p.jL38.
New construction, &c., V. Ill, p. 1274.
•took
B ONDS.—Of the 1st
M. and coll. trust gold 5s, $13,000,000 were Issued
the remaining $17,000,000 are Issuable for not more than 75% of the
cost of acquisitions, improvements or betterments, securities of other com¬
panies
and
amount of
general corporate purposes (the last-named to a maximum
$4,000,000, until $21,000,000 are outstanding, and thereafter to
maximum amount of $2,000,000), but only when the consolidated net
Income for the fiscal year next preceding shall have been three times Interest
a
charges, Incl.
bonds to be Issued.
Annual sinking fund equals 2H% of all
May 1 1914 to June 1920 .$3,523,100 bonds were pur¬
bonds outstanding;
chased and retired,
leaving only $9,476,900 bonds in hands of public^
V.
94, p. 1767; V. 95, p. 1211; V. 96, p. 1632; V. 98. p. 1463; application to list,
V. 100. p 138- V. 102, p. 255; V 104, p. 2347; V. 108, p. 1824.
Oct 25
S B, Chicago
and
Chicago
20
Q—J 15 Apr 15 1921 IH Checks mailed
Checks mailed
June 1 1921
Q—M
mortgage bonds for
5,000.000 marks, dated June 18 1912.
Independent Phosphate Oo. has
$389,000 bonds pledged under mortgage.
Endorsed notes of
•wned corporations June 30 1920, $235,000.
DIVIDENDS.—On pref. to Jan. 1913, Incl., 7% per ann.
None there¬
after to July 1918, when IH% was paid; to Apr. 15 1921, Wi.% quar.
Dividend accumulations Apr. 15 1921, 44%.
Jointly
•ut
REPORT.—Report for year ending June 30 1920, see V. Ill, p. 1274.
Cross
Net
Bond
Reserve for Preferred
Balance,
Profits.
Income.
Interest.
Cont., &c. Dividend.
Surplus.
1919-20-15,735.662 $3,248,712 $491,569
$637,653 $652,775 $1,476,715
1918-19. 4,734,553
2,845,014
511,097
726,512 x815,969
791,437
1917-18- 4,504,683
2,726,678
533,237
1,025,171
1,168,270
1916-17- 2,851,408
1,975,173
556,629
840,061
578,483
x Includes five quarterly dividends of 1H % each.
Total profit and loss surplus, June 30 1920, $4,073,234.
June 30
DIRECTORS.—Stephen B. Fleming (Pres.), Albert French
(V.-P. & Treas.), Waldemar Schmidtmann, E.
J. J. Watson Jr.
(V.-P.).
R. Stet-
Wiggin, J. R. Floyd (Sec. & Asst. Treas.), Daniel E. Pomeroy,
Francis M. Weld, Everett B. Sweezy and Douglas I. McKay.
Office
51 B'way, N. Y.—(V. 112, p. 475, 1288, 1982.)fcinius, A. H.
INTERNATIONAL CEMENT CORP.—(V. 112, p.
67,1149,1621,1872.)
INTERNATIONAL COTTON MILLS.—ORGANIZATION.—A Mass.
torporatlon organized on Feb. 6 1913. per plan In V. 96. p. 1232, 1705
New interests then entered the board with Lockwood, Greene 8c Co., of
Boston, as managers.
See V. 96, p. 1705; V. 98, p. 1395; V. 100, p. 587;
V. 106. p. 504.
Mills Oumed in Fee and Through Controlled Companies—
Spindles [No,)
Owned in fee—Manchester, N. H., 107,064; La Grange, Ga., 9,984;
Hogansville Ga., 11,232; Lisbon, Me., 32,716
-160,996
Bay State Cotton Corp. (entire $1,212,100 stock owned; no bds.)—
Warner Cot., Newburyport, Mass., 21,624; Le Roy Cotton,LeRoy, N. Y., 10,080, and Lowell Weaving, 35.112- —
66,816
Imperial Cotton Co., Hamilton. Ont. ($521,300 out of $600,000
stock owned)
11,220
Cosmos Cotton Co., Ltd., Yarmouth, N.rS. ($470,400 out of $600,000 stock owned; funded debt Is $174.000)-19.508
Owns all the outstanding ($1,000,000) com. stock and $189,700 of the
$761,200 pref. stock of the J. Spencer Turner Co. ($269,000 debentures
outstanding).
Also owns entire capital stock of Boston Yarn Co., Boston ($100,000).
Also owns a minority Interest ($2,000,000 common) of the Mt. VernonWood berry Mills, Inc., Baltimore, Incorporated Jan. 30 1915, to take over
the Mt. Vernon-Woodberry Cotton Duck properties, per plan V. 99, p. 898,
controlled.
Independently
aow
See offering of that co.'s notes. V. 99.
234, 479, 737. 816. 905. 1262. 2090: V.
582; V. 104, p. 1268; V. 106, p. 1898
898, 1218, 1303; V. 100, p. 58.
101, p. 373, 697, 927; V. 103, p.
Litigation ended, V. 108, p. 1514.
o.
CAPITAL STOCK.—The
shareholders voted In April 1916 to reduce
the
Sir value of the common stock from Issue to $50, thus reducing pref. stock to
g common to $5,000,000, and to $100 $500,000 additional the outstand
the
accumulated pref. dividends, which had been
In default since Dec.
See proposition to pref. shareholders In June 1916 in V. 102. p. 2170.
Stocks of subsidiary companies in hands of public Dec. 31 1920, $779,800.
1913.
DIVIDENDS.—On pref., 1 H% paid Sept.
$50 share) was paid quar. from June 1918 to
1920 paid $1.50 (3%).
In Mar.
and Dec.
None to
1 H% quar.
2% ($1 per
and Dec. 1 1913.
Sept. 1916, when dividends were resumed at the regular rate.
Dec. 1916 to Mar. 1921, 1H% quar.
On common div. of
March 1920.
In June, Sept.
and June 1921 paid 50 cents
(1%).
NOTES.—The proceeds of the new Issue of $5,000,000 10-year notes
in part used to retire the $4,000,000 2-year notes
1 1920.
These new notes are callable, all or part, for first six years
at 103 and int., then for 2 years at 102, and 101 thereafter.
Sinking fund
not less than $250,000 yearly, to retire 45% of issue by maturity.
See
•Chronicle," Nov. 29 1919.
Notes and accounts payable as of Dec. 31
1920, $12,532,137.
Debentures.—'The following debentures were outstanding Dec. 31 1920:
$30,000 due 1922; $269 000 due 1926; $144 000 due 1932.
«old in Nov. 1919 were
May 1 1916; July 1916 to Jan. 1919, incl.,
1 w% to aid Red Cross distributions.
V.
toll 50
Jan. 1921 div. omitted.
91.800,000 See text
7
60,000,000
pay
COPPER
CO.—ORGANIZA¬
TION.—lncorp. in Maine Dec. 18 1911.
Owns 4,216 acres, of which (a)
1,870 for mining lands, and (6) 2,346 for mill site, tailings, disposals, water
supply, Ac.
Company's bonds have all been paid off. Owns H of the
outstanding 16,320 shares of the stock of the Arizona Oil Co.
Acquisition of
Warrior property, V. 110, p. 2295.
Suit to recover taxes, V. Ill, p. 1570.
Operations were suspended April 1 1921.
V. 112, p. 1350.
CONSOLIDATED
INSPIRATION
.
Year—
sun$276T4~780sr$3,775,794 sr$2,416,074 sr$l,769,667
ordef
surplus Dec.
June 1 1921 1%
Apr 1'22-Apr'28 First Tr A
New York
July 1 1941
Kaliwerke Sollstedt Gewerkschaft has outstanding
1917.
1918
10,800,765
721,064
50,000
151,518
1,089,630
dividend rate.. /
(10%)
Common
100
Where Interest and
Dividends are Payable
5
Q—J 15 Apr 15 21 1 M% Bankers Tr 6o. N Y
do
do
MAN May 1 J932
5 g
9,476,900
June 1 '21
50c. Boston, Old Co! Tr Oo
Q—M
4,758,655 See text
do
do
June 1'21 1%%
Q—M
6,000,000 7 In 1920
do
do
J
&
J Dec 1 1929
7g
4,744,500
100
100
Places
13.055.500
&c
1574
Dividend
and Maturity
7,260,600
500 Ac
1919
1,156,726
pref. stock (6%)Common (cash) divs__„.
Se
60
$8,116,551
Bond interest, &c
100
1912
1,184,199
Depreciation _
Reserve for Federal taxes
Div. on
<
$25 $25,175,175 See text
Q—M
A
&
O
1,000
1.050.000
J
A
J
6 g
4,091,000
20
23,639,340 See text
100
J 00
.—$5,841,191
Total income
Last
Date
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations,
[VOL. 112.
STOCKS AND BONDS
INDUSTRIAL
186
Feb.
Sales of
Finished Goods by International, Bay
in value
do
REPORT.—For
1920.
No
notes.
$356,838
$239,i67
Net co.'s prop.
2,869,074
3,023,049
Int.
on
propor'n 3,225,912
3,262,216
provision has been made for Federal or
DIRECTORS.—Robert
F.
1919.
1920-
1919.
profits_$4,899,206 $4,256,960
profits.— 3,379,444
3,353,117
Co.'s
1917.
1918.
34,128,000 41,061,000 38,575,000
34,202,000 4,0881,000 38,587,000
$30,116,000 $27,996,866 $28,649,515 $20,091,089
cal. year 1920, in V. 112, p. 750, showed:
31,645,000
29,114,000
Gross
Net
State, Cosmos and Imperial Cos.
1919.
1920.
pounds
Sales, pounds
Production,
Herrick
Canadian taxes.
(Chairman), 8. Harold Greene
Rodman P.
Manchester.
Balti¬
Chas L.
Pres.), Frank J. Hale (V.-P.), Edwin Farnham Greene,
Snelling. F. L. HIgglnson Jr., Boston; F. P. Carpenter.
N. H.; John B. Dennis, John E. Rousmaniere, N. Y.; W. J. Casey.
more; Albert L. Scott, Boston; Allan B. Greenough (Treas.).
Talbot is Clerk.
Office, Boston, Mass.—(V. 112, p. 750.
INTERNATIONAL
HARVESTER
CO.—Originally incorporated
12 1902 and acquired five concerns manufacturing agri¬
Harvester Co., McCormick Harvesting Machine
lands, coal, ore, blast furnace and steel proper¬
ties.
See full description of plants, organization, Ac., in Oct. 1918, V.
107, p. 1574, 1575; V. 108, p. 2038; V. 85. p. 104.
Canadian Oo.,V. 1(»
p. 385.
In 1919 acquired Chattanooga Plow Co. and Parlin & Orendorff
Co. of Canton, 111.
v. 108, p. 2437.
In July 1920 acquired the Richmond
(Ind.) plant of the American Seeding Machine Co., V. 110, p. 2662.
New
plant, V. Ill,p. 1756.
Proposed new construction, V. 111, p. 2429. Price
and wage reductions, V. 112. p. 1288.
In Jan. 1913, In view of conditions then prevailing, it was thought best
to transfer the business in foreign countries and the so called new lines to
a separate organization, the International Harvester Corporation per plan
In N. J. on Aug.
cultural machines: Deering
Co., Ac.
Also has timber
96, p. 365, the capitalization, previously
$60,000,000 7% cum. pref. stock being divided
companies.
O:
in V.
under the laws
the former
capitalization
$80,000,000 common and
equally between the two
MAY, 1921.]
INDUSTRIAL
MISCELLANEOUS
[For abbreviations,
COMPANIES
see
notes on
page
Date
\Ser lsf £125,000 yrly, call at par...
£125.000, call par
lit M debenta/Ser 2if 5% or
Other issues see text below
.......
Par
Amount
Rate
When
Value
Outstanding
%
Payable
$100 $49,872,000
100
text F
51,725,500 See
A
6 g
38,250.000
isie
1908
£1001
£100/
1914
If not otherwise disposed of within one year after the war, the beforementioned lines of machines, Ac., to be sold at public auction.
(d) Company to be prohibited after Dec. 31 1919 from having more than
one sales representative or agent in any city or town in the United States
for the sale of harvesting machines and other agricultural implements.
(e) If, at the expiration of 18 months after the war the foregoing measures
have not proved adequate, in the opinion of the Government, to bring about
harmony with the law, the Government to have the right to such further
relief as may be necessary.
Following this settlement the International Harvester Co. of N. J. and the
International Harvester Corporation were reunited as above stated.
The
preferred stocks being then exchanged share for share, while the common
was exchanged 1 1-3 shares of the new for each share of the International
Harvester Co. of N. J., and 2-3 of a share for each share of the International
Harvester Corporation.
V. 107, p. 608, 699, 1104, 1195, 1290.
The Federal Trade Commission, in Sept, 1920 charged the company
guilty of unfair competition,
V, 111, p, 1088.
(c)
STOCK.—Rights of stock, see application to list.
V. 107, p. 1574.
The stockholders on July 29 1920 ratified the proposal increasing the
authorized Pref, stock from $60,000,000 to $100,000,000 and the Common
stock from $80,000,000 to $130,000,000,
The plan provided: (a) that
$20,000,000 of the new Common and $40,000,000 of the Pref, stock be set
aside for employees under the stock ownership and profit-sharing plan* (6)
that $10,000,000 of the new Common will be used for
the payment
of
12H % stock dividend on the Common and (c) the balance, $20,000,000, will
be available for the payment of 2H% semi-annual stock dividends on the
Common stock, the same to be declared on the first days of Jan, and July of
each year if the directors so decide,
Y, 111, p, 498, 697 ,
paid
July 15 1918, respectively.
No dividends had been paid on the common
stock of the Inter. Harvester Corp. since July 15 1914 owing to European
war.
The consolidated company paid its initial dividend on common stock
1 H% Oct, 25 1918-Jan, 1919 to April 1920, 1H% quar,* July 1920, 1H%'
Sept. 1920, 12H% in com. stock; Oct. 1920, l%%\ Jan. 1921, l%% and
com. stock; Apr. 1921, 1 % %.
2% in
REPORT.—For 1920 in full in V. 112, p. 1766.
Ore and timber extinguishment
Special maintenance
reserve
Reserve for losses
Pension funds
receivables
on
1920.
1919.
1918.
$23,160,075 $25,786,197 $31,648,856
$642,329
$818,437
$882,454
428,380
397,502
447,632
3,474,744
2,769,406
2,385,942
280,469
181,976
219,637
1,178,800
607,114
999,866
500,000
1,000,000
1,000,000
Approp. employees' savings plan
War losses
250,000
(prof. & loss deductions)..
Preferred dividends
Common dividends.
Common dividend
4,200,000
5,750,000
10,000,000
'
(stock)
Surplus
Profit and loss surplus.
'
7,403,033
4,200,000
4,800,000
10,478,000
4,200,000
3,800,000
def.$3,294,647
$3,608,726
$6,985,325
$68,350,742 $71,645,388 $68,036,662
OFFICERS.—President, Harold F. McCormick; Vice-Presidents. Alex*
McKinstry, H, B, Utley* General Counse
Wm, D, McHugh* Sec, A Treas,, George A, Ranney* Comp,, William M.
Reay.
General office. 606 So. Michigan Ave., Chicago.—(V. 112, p. 1288,
1522. 1611, 1622. 1734, 1766.)
ander Legge, H, F, Perkins, A, E,
tive stock in Dec.
1919.
Where Interest and
Dividends are Payable
A
O Oct 1
See
text.
New York City
1941
30 1922
30 1943
London
do
See text
Apr
Apr
*21
'21
1
1
1U Guaranty Trust Co, N Y
do
do
1%
Mar 1 1919 2%
"Q-F " May 2
1921
Bankers Trust Oo
\K
do
Divs. on Pref. Stock Since Jan. 1 1917—
Regular dividends, now F. & A
1917.
1918.
6%
6%
10
5
BONDS.—First M.
Coll.
1919.
6%
15
Payments on preferred dividend accumulations in
Aug. 2, 5%* leaving unpaid 42%.
1920,
do
1920.
6%
Feb,
1921
3,-.
text
....
2,
5%*
Tr.
Sinking Fund bonds dated Oct. 1916,
and due Oct. 1 1941, but subject to prior redemption on any Int. date at
110 and int. on 4 weeks' notice.
Sinking fund not less than $400,000 per
annum beginning in 1917, and
proportionately more If more than $40,000,000 bonds are issued.
Total autn., $50,000,000.
Present issue, bearing
6 Vo
int., $40,000,000.
Remaining
$10,000,000
reserved for
future
use under restrictions to meet not over 85% of the cost of additional
ships,
eqiipment, Ac., and for Improvements and betterments of the property.
Int. rate not to exceed 6% and callable at not over 110 and int.
On Dec. 31
1919 $500,000 of the $40,000,000 remained in treasury, and $1,250,000
had been retired by sinking fund.
V. 105. p. 387.
SUB, CO, BONDS,—Oceanic Steam Nav, Go. 4H% debentures* on
Dec, 311919. $9,049,615 were outstanding- see V, 87, p, 1091* V, 99, p, 202*
F, 102, p, 2170* V, 105, p, 387,
£2,800 Leyland Line debentures, due
Dec, 1 1921 (cash deposited for these).
ANNUAL REPORT,—For calendar year 1919, in Y, 111, p, 387:
Combined Income, Incl. Sub. Cos., 100% Owned, and Fred. Leyland & Co.
1919.
1918.
1917.
(after providing for
profits duty), also
miscellaneous
$86,603,021 $38,042,093 $60,027,267
Gross oper. exp., incl. U. S. war taxes,
British income tax, also int. on de¬
benture bonds of subsidiary cos— 62,005,213
20,507,389
41,188,379
Gross
earnings
British
excess
Net earnings
on I. M. M. Co. bonds
Interest
Depreciation
steamers
Preferred divs. I. M. M. Oo
on
$24,597,808 $17,534,704 $18,838,888
2,309,232
2,336,308
2,362,841
5,225,664
3,705,322
4,304,505
(21%) 13,448,630(11)5689,805(19)9827,845
Net result
$3,614,282
$5,803,270
$2,343,697
The foregoing statement represents earnings of steamers directly operated
by the International Mercantile Marine Co., together with earnings of the
subsidiary companies (largely British , of which the entire issues of capital
stock are owned
by the International Mercantile Marine Co., except
Frederick Leyland & Co., Ltd., of which company about 42% of the
pref.
shares and 98% of the common shares are owned by the International
Marine Co.
For
proper comparison with results of previous
the earnings of the British companies have been converted at $4 85
£ sterling.
.
Note.—The British excess profits duty on earnings in excess of the aver¬
age earnings of any two of the three years previous to the war was increased
in 1916 from 50% to 60%, and in 1917 to 80%. but in 1919 was reduced to
about 40%.
years
per
DIRECTORS.—G. J. Baldwin, H. Bronner, P. A. S. Franklin, J. M.
Perry, Charles H. Sabin, Frederic W. Scott, Donald G. Geddes, John W.
Platten, Charles A. Stone, Frank A. Vanderlip, Thomas B. McAdams,
J. P. Morgan and Charles Steele.
Pres., P. A. S. Franklin; Treas., H. G.
Philips; Sec., E. E. Parvin.
N. Y. office, 9 Broadway.—(V. 112, p. 166,
378, 658, 1029, 1149, 1522, 1622.)
INTERNATIONAL
MOTOR TRUCK CORP.—Incorp. Nov. 8 19161
a result of the refinancing of the International Motor Co. of
Acquired approximately $8,000,000 of the assets of WrightMartin Aircraft Corp. in Dec. 1919.
Plants are located at Allentown, Pa.;
Plainfield, N. J., and New Brunswick, N. J.
In N.
Y.
as
Delaware.
CAPITAL STOCK.—
The stockholders on April 27 1920 (a) increased the auth. common stock
80,840 to 320,000 shares, no par value; auth. (b) the declaration of
from
100% stock dividend (70,777 shares of common stock) on May 11 to holders
May 7 at rate of 1 share for each share of com. stock so held,
(c) Authorized the offering of 141,554 shares of common stock to common
stockholders of record May 7, pro rata at *50 per share, at the rate of two
of record
shares for each share of
common
stock held.
Dividends,—Initial divs, of $3 50 per share on both First Pref, and Second
Pref, stocks were paid in March 1920,
Dividends of $2 33 per share were
paid July 1 1920.
These dividends covered the four months ending June 30,
Oct. 1920 to
April 1921 paid VA% quarterly on both classes.
REPORT.—For cal.
year
1920, in V.
112,
1138, showed:
p.
'
Number of trucks sold.
—
Sales.
Gross
INTERNATIONAL MERCANTILE MARINE CO.—ORGANIZATIONS J
AC.—Formerly Internat. Nav. Co., acquiring in 1902 (per plan. V. 74
p. 888, 941, 1093; V. 75, p. 1089, 1305), entire cap. stock of White Star,
American, Red Star, Atlantic Transport and Dominion Line and In the
Leyland Line, £587,030 of the £1,414,350 5% cum. pref. stock and £1.184.630 of the £1,200,000 common stock,
V, 102. p, 2080.
The Atlantic
Transport Co, in July 1920 purchased at par 40,000 of the £10 preference
shares of the Leyland Line,
V, 111, p, 299,
During 1919 acquired,
through the Ocean Steam Navigation Co,, Ltd,, and the Shaw. Savill &
Albion Co,, Ltd,, practically all of the stock not already held of the George
Thompson & Co,, Ltd,
V, 111, p, 387,
Securities owned in 1919, V, 108,
p. 2327,
In Nov. 1916 joined in purchase of N, Y, Shipbuilding Corp,
V, 103, p, 1891- V, 105, p. 387,
On June 30 1920 the company's fleet
comprised 106 ships, having a gross
tonnage of 1,013,993 tons.
Tonnage under construction on that date
totaled 267,300,
The passenger and freight steamers under requisition by
the U, S, Govt, were returned during the latter part of 1919,
Five of the
•ompany's ships were equipped as oil burners during 1919,
In Oct. 1916 the company's financial position having been vastly im¬
proved owing to the war, a reorganization was effected without foreclosure
per plan in v. 103, p. 582, 668, 1214, 1985, the funded debt of the Inter¬
national Co. being reduced by $30,729,000 and its direct interest
charges
from $3,248,330 as of Dec. 31 1914 to $2,369,820.
V. 105, p. 387.
The
plan left entirely undisturbed the existing common and preferred stock.
V. 103. p. 1214.
The American International Corp. (V. 103, p. 2338; V.
106. p. 90) In 1916-17 acquired a considerable amount of the capital stock.
The shareholders in June 1919 voted not to dispose of the British
ships.
Bee official data bearing on this matter but of general interest in V. 108,
p. 883, 1393, 2128, 2245, 2333, 2437. 2531.
The stock trust certificates for the pref. stock were exchanged for defini¬
Places
On accumulations
Mercantile
were
on the pref. stocks of the International Harvester Co. of N. J. and Int.
Harvester Corp.
Dividends at rate of 5% per annum were paid on Inter.
Harvester Oo. of N. J. common stock from 1913 to 1916; 7% in 1917 (5%
and 2% extra) and two dividends of 1H % each were paid on April 15 and
Reserve for depreciation
A
J A D 30 June
J A D 30 June
an
283,108 sh.
7
10,921,891
100
7
6,331,700
text
25 41.834,600 See
100
8.912,600 6 in 1920
manufactured.
Dividend
and Maturity
100
Under the pressure of war conditions the International Harvester Oo.
(the old company) agreed in Aug. 1918 to a settlement of the Federal anti¬
previously appealed from the decree of a divided
court, a decree based on the alleged, but unexercised power to dominate
the agricultural implement trade.
This settlement is outlined as follows:
Essential Provisions of Settlement in Aug. 1918 (V. 107, p. 608, 699.)
(а) The company to dispose of the harvesting machine lines known
under the trade names of ^'Osborne," "Milwaukee," and "Champion."
the trade names themselves, and all patterns, drawings, blueprints, dies,
Jigs and other machines and equipment used in the manufacture of those
lines to Independent manufacturers of agricultural implements.
(б) The company to dispose of the plants and works at Springfield. Ohio,
and Auburn, N. Y., where the "Champion" and "Osborne" lines are
Interest.
Last
None
trust suit which it had
DIVIDENDS.—Regular dividends at rate of 7% per annum
£1,865.000
187
A
500 Ac
Internat Motor Truck Corp—Com stk 320,000 shares auth
1st pref (a A d) 7% cum $10,921,900 auth call 110...
2d pref (a A d) 7% cum $5,347,800 auth call 105
(The) International Nickel—common stoca $50,000,000autn
Preferred stock (a A d) 6% non-cum $12,000,000 auth...
Consol. Income Acc't of Merged Cos.
Operating income after taxes
BONDS
Bonds
6]
International Mercantile Marine—Stock com $60,000,000—
Pref (a & d) 6% cum $60,000,000 (V 84, p 1309. 1370)...
lit M A Col Tr $50,000.000 callable at 110 A int
N
Securities of Controlled Companies—
Oceanic Stm Nav
STOCKS AND
income
Interest, amortization, Ac
Reserve for
-
Federal taxes
Shrinkage in inventory, $1,370,849, &c
Net
profits for
year..
OFFICERS.—A. J.
Brosseau,
1920.
1919.
7,020
4,580
$34,071,365 $22,143,698
4,588,151
3,229,178
315,709
525,006
930,000
1,419,137
$2,644,014
$1,983,469
Presj R. E. Fulton, E. C. Fink, A. F.
Masury, W. R. Edson, V.-Pres.; C. W. Haseltine, Sec. & Treas.
252 West 64th St.. New York.—(V. 112, p. 1138, 2038.)
Office,
(THE) INTERNATIONAL NICKEL CO.—Inoorp.lnN. J. Mch.29 1902
In Sept. 1912 succeeded to International Nickel Co. and Colonial Nlokel
Co., per plan V. 95, p. 239, 682.
Had previously acquired all stock of
Canadian Copper Co., with plant at
Copper Cliff, Ont.; and the Orford
Copper Co. oi Bayonne, N. J.; control Nickel Corp., Ltd., London
and
Societe Miniere New Caledonia, Ac.
V. 75, p. 1205, 1257.
English con¬
tract and new plants in Canada; see V. 102, p. 714: V. 103, p. 761, 2432;
V. 104, p. 2227; V. 105, p. 502; V. 106, p. 1581.
Federal Commission re¬
port. V. 107. p. 29.
Wages, V. 107, p. 805.
Power development, V. 107.
p, 2012,
New plant, V, 111, p, 1756,
Large capital expenditures were made for new construction and improve¬
ments in the three years 1915 to 1917 at the mines, smelter,
power plant
and refinery in the U. S. and Canada, providing the additional productive
capacity necessary to meet the increased war demands.
The new refinery at Port Oolborne, Ontario, was placed in opera¬
tion in Julyl918; its annual output capacity is reported as about 15,000,000
lbs. of nickel.
V. 108, p. 1063, 2237:
V. 106, p. 2338; V. 107, p. 85.
In
1918 the International Nickel Co. of Canada. Ltd., increased its authorized
capital stock from $5,000,000 to $50,000,000i(the issued stock being owned
by the American company) and took over the assets of Canadian Copper Oo.
with Its mining and smelting operations in Canada and the refining opera¬
tions at the Port Oolborne plant. V. 108, p. 2236; V. 106, p. 2348.
Canadian tax retroactive from Jan. 1 1915.
See V. 104, p. 1390. 1902.
188
Date
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
MISCELLANEOUS COMPANIES
[For abbreviations,
&c., see notes on page 6]
international Papei—
Stock common $20,000.000
Preferred
(not as to assets) 6%
Cons mtge $10,000,000 g red 2% sink
Other divisional Issues, see text.
$100 $19,850,264
100
24.825,308 6 iii 1920
$25,000,000
Series A ($7,500,-
cum
1st A Ref M 5s $20,000,000 «f call 102X
000 conv)
Baxxxc*
fd(V 80,p 1482)Ea.xc*
1,000
1917
1905
Preferred stock 7% cumulative $11,461,000
1st M bonds
Internat Prod SS Co marine equip trust (guar p & i)—Col
International Salt—Stock $6,077,130 (V 06. p 1025)
Ooll tr M gold $12,000,000 red 105 s t $200,000 yrly_Usmx
Subsidiary Companies—Bonds held by Public—
Retsof Mining- first, mortgage gold
„.Col*
Detroit Rock Salt Co. (sub co) 1st M g
International Silver Co—Common stock (Issued, $9,944,700; in treasury, $9.259,338)
Stock pref 7% <a & d) $9,000,000 (Issued $6.607.500)
Dividend scrip (V 76, p 106)
First mtge $4,500,000 s f called at 110 since 1901->N.xc*
Debentures $2,000,000 gold redeemable at par
x
International Steam Pump Co—See Worthington Pump &
Interstate Electric Corporation—Com stock $1,000,000
Preferred stock 7% cumulative $1,500,000
1st Lien 6% coll. bda.call (all only)at 102 A int since Mar'16
Underlying bonds
3-yr gold notes call till Sept 1 '20 at 101. thereafter 100X-N
Trenton (Mo) Gas & El gold notes guar p&i
•
Of these $2,009,000 owned by Int Salt Co
1920
100
500 Ac
1901
1,000
100
100
REPORT.—Fiscal year 1919-20:
100
100
500 Ac
1919
100 Ac
$1,646,658
$2,982,910
534,756
.
$1,204,414
$2,210,978
10,040,304
(24%)
exhaustion, Ac.
After reserve for Fed. taxes, depredation, mineral
Gross income, $5,335,939; surplus,
For 9 mos. ended Dec. 31 1920:
after
deprec., Fed. taxes and pref. divs., $2,219,807.
V. 112, p. 658.
OFFICERS.—Chairman of Board, Edmund C. Converse; Pres., W. A
Boat wick; Sec. A Treas., James L. Ashley.
Office, 43 Exchange Place.
New York.—(V. 112, p. 166, 566, 658, 1982.)
and pur¬
chased 25 of the principal pulp and paper mills of the U. 8.; see V. 81, p.
2623; V. 67, p. 428. and V. 69, p. 494.
For full description of properties,
organization, securities, Ac., as of June 1918 and earlier dates, see state¬
ments to N. Y. Stock Exchange in V. 107, p. 1575.
V. 67, p. 1359, and
V. 68,
p. 726: V
80, p. 1482.
Owns or leases over 4,000,000 acres of
CO.—Incorp.
PAPER
Jan.
1898
31
in U. S. and Canada.
Owns majority of capital stock of
Continental Paper & Bag Mills.
V. 70, p. 742; V. 69, p. 494, 908; V. 73,
timber lands
p.
A°AJ0
3)4
July'21-July *26
Apr 1 1921 1)4
Trust
Co,
1 1951
Empire
J Oct
1 1925
J July 1
N
Y
Columbia Tr Co. N Y
A
g
Oct
A
§g
6
261,500
1932
Checks mailed
See text
Q—J
At will
A
D Deo
A
J Jan
Am
1 1948
Ex Nat Bank, N Y
11933
do
do
786: V. 80, p. 2624; V. 82, p. 103; V. 110, p. 2079.
"Work was started at Three Rivers .Canada, in September 1919 on a sul-
Shlte pulp plant of theitcompany. With totalcompletion of this plant (in
tie latter part of 1921,
is believed), the the
production of the company
V. 109. p. 891. 985.
Recent
Status In April 1921, V. 112, p. 1745.
08. *09 to '14- *15. 16
1917-Apr. 1921Pref. (%). 4H
6
6 yearly
4
2 yearly
2 2K 6yrly(l)$Q-J15)
Com. (%)1
2
None
None
None
—
—
See below as to payment of 33 H % of accumulated pref. dividends.
Divi¬
New York and Chicago
MAS Sept 1 1922
&
O Oct 1 1925
7g
8
A
g
BONDS.—The entire Issue of $1,300,000 1st
M. bonds is owned by the
American International Corp.
The guaranteed bonds of the Int. Prod.
SS. Co. are callable at 105 and int. and mature $53,000 semi-annually from
Jan. 1 1921 to July 1 1926, inclusive.
V. 110, p. 566.
The stockholders on Feb. 1 1921 approved the creation of $5,000,000 8%
Mtge. notes, of which about $2,272,249 were to be presently issued.
See
112, p. 378.
In Sept. 1919 all accumulated dividends on pref. stock were paid up to
June 30 1919.
V. 109, p. 985.
In Jan. 1920 paid SU% on preferred.
OFFICERS.—V.-Pres., Percival Farquhar.
N. Y. office, 120 Broad¬
way.—(V. 112, p. 263.)
full details in V.
INTERNATIONAL SALT CO.—ORGANIZATION.—Incorp. In New
Jersey In 1901.
On Dec. 31 1920 owned (a) all of the $2,501,000 capital
stock and $2,009,000 bonds of Retsof Mining Co., rock salt, and Retsof,
Llvingtson Co., N. Y., which company owns $300,000 stock (entire issue)
of Avery Rock Salt Mining Co., with mine at Avery Island, La. (this
stock Is in treasury of Retsof Mining Co.); (6) entire $750,000 stock of
international Salt Co. of N. Y. (with producing plants in New York State
known as Watkins, Ithaca and Cayuga), which company owns $1,159,200
of $1,500,000 Detroit Rock Salt Co. common stock; (c) $131,700 bondsof
International Salt Co. of N. J.
See statement Sept. 10 1917, V. 105,
1307; V. 96,
p.
p.
422, 852, 1100.
LATE DIVS.—1907-14.
1915.
.
_
„
,
,
^
1916.
1917.
*18. '19.
4K 6K+KR.O. 10
6
'20.1921.
6
text.
1)4 % quar. and 2% extra; April 1, 1)4%.
BONDS.—Of the 5s of 1901 ($12.'100,000 autn. Issue), one-slxtletb of
amount Issued
to be retired each year by sinking fund and canceled. In
March 1910 $2,420,000 were retired as the result of the sale of the West¬
ern properties.
Of the $9,095,900 bonds issued to Jan. 1 1921, $4,992,500
had been retired/leaving $4,103,400 outstanding. V. 82, p. 1443; V. 90,
p. 852; V. 99, p. 273.
REPORT.—For 1920, In V. 112, p. 1396, shows:
Year end.
10 Mos. to —
Years ending
Dec. 31 '20. Dec. 31' 19. Feb. 28 '19. Feb. 28 '18
Divs. from sub. cos
$1,042,650
$685,190
$613,500
$1,027,500
Int. on treasury bonds
95,950
80,434
97,078
77,287
Percent
INTERNATIONAL
10 '20
1927
100,000
1916-17.
$16,979,608
$13,557,970
x
J
638,100
1920
1919-20.
1918-19.
1917-18.
$6,365,472 $11,211,521 $16,181,501
Net
x$2,745,734 x$5.922,630x$10,129,988
Preferred dividends (6%)
534.756
534,756
634,756
Common dividends
4,183,460
7,948,574
Per cent
(10%)
(19%)
Balance, surplus
J Jan
Y
Metropolitan Tr Co, N Y
11935
Text
Text
1,000.000
Ang 1 1917 1% A E Pitkin A Co, N Y
Mar 1 1919 1X Guaranty Trust Co, N Y
1,077,100 See text
MAS Mar 1 1933
Equitable Trust Co, N Y
1.293.000
1913
„
„
A
A
do
Bankers Trust Co, N
Macb Inery Cor
V .102, p.348,71
March 31 Years—
J
J
685,362
6.028,588 7 in 1920
970.764
None
2.812,000
5 *
1,867.000
6 g
1,000
1,000
1898
1903
1916.
Gross
J Jan
7 g
*2,500,000
875,000
1912
'17.
'18. 'lj^'21.
Common % J
2
10)4
10
l7)4A10stk.
25
23
16
Text.
In March 1919 com. div. was reduced to 2%; none since to May 1921.
Pref. div., however, has been paid as usual. V. 108, p. 1940; V. 109, p. 582.
1915.
11912.1913.1914.
A
6,077,130 6 In 1920
5 g
4,103,400
1916 to decrease the par value of com.
STOCK.—Shareholders voted Jan
DIYS.—»
J
Payable
are
1% Checks mailed
IK
J Jan 1 1947
5g
583,000
.
shares, each $100 share being exchanged forfour $25 shares.
A
Where Interest ana
Dividends
Maturity
July 11899
Apr 15 *21
Q-—J
See text
1917
and
J
None 131,500shrs
100
5,997,500
authorized—
Places
Last Dividend
5 g
6.266,000
48,000
1.000
Products—Common shares 232,666 auth.«
International
[VOL. 112.
STOCKS AND BONDS
INDUSTRIAL
1K%
none
In 1921; Jan. 3,
'
will be increased to over 1,900 tons a day.
acquisitions, V. 110, p. 1752.
DIVS.—
dends
1898
on common
1899. *00 to *07.
Dividends--
$765,624
$710,578
$1,104,787
$43,525
$46,019
$59,127
$51,873
202,282
170,508
(8%)486,170(4)4)273,471
208,790
—
210,645
(6)364,628 (10)622,906
Balance, surplus
$406,623
$275,626
$78,033
M. B. Fuller; Sec. & Treas., W. H. Barnard.
Office,
stock not resumed to Nov. 1920.
FINANCIAL PLAN.—The plan of Jan. 31 1917 (V. 104, p. 563, 1049.
2121) was declared operative May 12 1917.
It provided for (a) the refund¬
ing of the bonded debt; (b) an increase in the authorized pref. stock from
$25,000,000 to $32,500,000 solely against the convertible feature of $7,-
$1,138,600
Total
Expenses Int. Salt Co—
Interest on 5% bonds
Pres.
Pa.
N. Y. office, 2 Rector
$219,363
Scranton,
St.—(V. 112, p. 67, 567, 1396. 1872.)
INTERNATIONAL SILVER CO.—ORGANIZATION, AC.—Incor. In
1898 under laws of N.J. and acquired silver-plating properties—see
67, p. 1160; also V. 68, p. 232, 334, 1024; V. 76, p. 106. Also has a large
ste-llng silver output.
See V. 68, p. 334, as to rights of capital stock,
plants* Ac. V. 67, p. 1160: V. 68. p. 1024. V. 71. p. 545; V. 82. p. 990.
Nov.
V.
_ils
purpost
authorized.
V. 104. p. 1148, 1595, 1902.
V. 105. p. 1526.
On
31 1920, of the authorized $20,000,000 common and $25,000,000
pref., there remained in the treasury $149,736 common and $174,692 pref.,
practically all reserved for settlement of the overdue dividends ori the (ap¬
proximately) $1,200,000 pref. stock not assenting to aforesaid plan.
De¬
cision handed down in May 1919 holds non-assenting pref. stockholders are
not entitled to cash distribution. V. 108, p. 2128. V. 104, p. 2121; V. 107,
p. 1675.]
$20,000,000 First & Ref. 5% Sk. Fd. Mtge. Bonds—See V. 107. p. 1575.
fore
Dec.
Series A bonds outstanding Dec. 31 1920 (see V. 107, p. 1575)-$6.266,000
exchange for Oonsol. Mtge.
5% sinking fund bonds similarly held or Immediately Issuable
company], but held In treasury
„
Series B reserved under restrictions for extensions, Ac
3,789,000
-
8,373,000
The $7,500,000 "A" bonds were used (a) to retire the following bonds,
all or substantially pledged,under the mortgage; First Oonsol. M. 6s, due
Feb.
1
1918,
$4,337,000; Oonsol. M.
Convertible 5s,
31 1920; pref : $6,607,500.
REPORT for year ending Dec. 31
1920:
due Jan.
1
1935.
1918.
1919.
$1,335,538
Adjus. of plants & inv—
72,596
Divs. on pref. stock(7%)
422,002
x
mainder, Series B) to be convertible from July 1 1919 to July 1
1922, incl.. Into 6% cum. pref. stock, par for par
—_$7.500,00n
Less canceled through sinking fund and in treasury
1,234,000
to the
&o.—Com. stook Issued,
1920.
Series A, issued to retire 6% bonds of parent and subsidiary cos.
and Oonsol. Mtge. 5s, these 8erles A bonds (but not the re¬
Series B Issued to the company fin
$9,944,700, of which $9,259,338 In
of which $578,912 In treasury.
PREF.—
f'10. *11. *12. *13. '14. *15. '16. '17. '18. '19.
1920. 1921.
DIVS. (%)\7H
8
10
9 7)4
7 5)4 6)4
7
7
7
text
Paid in 1921: Jan., \%%\ April, IX % and X% on account of accumu¬
lations, leaving unpaid dividends of 11%.
Also In Jan. 1903 scrip for unpaid divs. (21X %) then due, $970,764.
STOCK,
treasury Dec.
Net, after int., &c
$1,462,808
422,002
def.$24,809
2,513
422,002
def.449,324
3,027,108
1917.
$693,301
12,645
422,002
sur.258,654
3,471,406
840,940
1,040,806
'
31—
4,920,735
4,079,795_
V
T
V
depreciation, taxes and bond interest.
Pres., Geo. H. Wilcox, Meriden, Conn.; Treas., G. H. Yeamans,
Conn.—(V. 112, p. 750, 938.)
Balance
Total OU1 Jt/lUO Dec.
JVC11
surplus
x Earnings,
less
INTERSTATE
nJX
J
ELECTRIC
J
.
CORPORATION.—(See
Meriden,
Map.)—OR¬
on Jan. 28 1913 to acquire
electric
companies in the U.S. Owns and operates utilities in
GANIZATION.—Incorp. in Virginia
light
gas,
water and ice
Union City and Oorry City, Pa., Great Bend and Hoisington, Kan., Tren¬
ton and Chlllicothe, Mo., San Angelo, Ballinger, Winters, Palestine and
Laredo Tex., also transmission lines in Texas, Missouri, Kansas and Penn¬
$1,722,000; Hudson River P. A P. Co. 6s, due Jan. 1 1918. $377,000; Rumfoni Falls Sulphite Co. 1st M. 6s, due July 1 1918, $332,000, and Piscata-
sylvania.
tie
SularemainingCo. 4s, due Aug. 1 1918, $9,000; (V. (6) will be used to retire
P. A P. $769,000 1st Consols, due 1935 or 107. p. 700).
and
An annual sinking fund 1% of the total amount of bonds at any time
Issued [plus Interest on bonds so retired.]
Callable at option of companv
all or in part, on any interest date at 102H and int.
V. 104. p. 563
REPORT.—For 1920, in V. 112, p. 1612, shows:
Total Net
Bond
Federal
DepreciPref. Divs.
Income. Interest.
Taxes,
taion, etc.
Paid.
Cal.
Year.
Balance,
Surplus
$
$
$
I
$
$
1920-21,936,237
347,340 7,015,280 2.517,714 (6%)l,500,00010,555.902
1919— 7,833,274
367,380
908,166 2,238,433 (6%)1,500,000 2,819,295
1918
8,194,884
385,520 1.100,000 1,556,786 (6%)1,500,000 3,652,578
1917 -12.932,173
726.704 2.500,000 1.524,682 (6)2)1.461,000 6.719,687
The total surplus Dec. 31 1920 was $32,818,070.
.
DIRECTORS.—Philip T. Dodge (Pres. & Churn, of Exec. Comm.),
Ogden Mills CV.-P.), P. H. Jennings, F. N. B. Close, Allen Curtis, Chester
W. Lyman (V.-P.), R. Pagenstecher, G. F. Underwood, H. A.
Wilder,
Albert H. Wiggin, Wm. D. Russell, Herman Ellas, Ogden M. Reid.
The
Secretary Is F. G. Simons; Treas., Owen Shepherd.
Office. 30 Broad St.,
N. Y.—(V. 112, p. 166, 750, 938, 1150. 1612, 1745, 2088.)
INTERNATIONAL
PRODUCTS
CO.—ORGANIZATION.—Incorp
In Md. in May 1917 and in Sept. 1919 was establishing itself in the
cattle-
rahang andpacking business in Paraguay and also in the Quebracho (tanning
extract business).
Owns extensive tracts of grazing lands and quebracho
forests. V. 109, p. 1083.
The American International Corporation islargely
Interested and owns all the $1,300,000 1st M. bonds.
STOCK.—The stockholders on June 28 1920 increased the authorized
capital stock from $7,000,000 pref. and 145,000 shares common to $11,461 000 pref. and 232,666 shares common.
The stockholders voted Sept. 21919
to Increase the authorized issue of pref. stock from $5,000,000 to $6,000 000
Compare V. 103, p. 941; V. 104, p. 2654.
CAPITALIZATION.—Stock auth., $1,000,000; common, in $100 shares,
$1 500 000 7% cum. pref., also in $100 shares; outstanding common
$1,077,100. frirst lien 6% bonds authorized, $2,000,000;
Entire bond issue limited to $2,000 000 se¬
bonds and stock in subsidiary companies. Redeemable
as a whole but not in part on any interest date after March 1 1916 at 102
and interest.
V. 103, p. 1795; V. 104, p. 1804.
In April 1918 received from the Virginia State Corporation Commission
permission to increase the auth. 7% cum. pref. stock from $1,000,000 to
$1 000 000' pref.,
outstanding,
i^^an^IwSroldjmSob B^/Sear mild notes. Auth $1,000,M isstr&TJsreiDIVIDBND9.—Initial dividend. 1 '<% . On pref. stock March 1 1918;
Mar. 1 1919. 7% p. a. (1
otMApril 1921. dom.
H% Q
div No. 1*1%. was paid July 11910» Jan. 1 1917# 1%» Aug.t 1% •
then to
Common
SUBSIDIARIES.—Controls the entire stock in the following companies.
outstanding bonds not owned by Interstate Elec. Oorp.f include:
San Angelo (Tex.) Water, Lt. & Pow. Co. (1st 6s, due 1939, $422,500);
Great Be^ (Kan.) Water A Elec. Co. (1st 5s, due 1923, $15,000); Laredo
(Tex ) Water Co. (1st cons. 6s, due 1932. $90,000); Corry City (Pa.) Elec¬
tric Light Co. (2d 4Ks, $4,300); Trenton Gas & Elec. Co. (1st 6s, extended,
-wyIOc«
$6 500)' 1st ref. 6s, aiue 1937, $73,000; 8%
S100 000 (guar
p. & i.)*, Wayne Township
of
no
par
value.
V. 109.
p.
985, 1529.
gold notes, due Oct. 1 1925,
Power Co. (Pa.), Home Power
Township Power Co. (Pa.), Hoisington (Kan.) El. A Ice
Co' Peopled Gas & Elec. Co . Chillicothe. Mo.. Ballinger Elec Lt. A Power
'Co.!
Ice Co., Consumers Ice & Fuel Co., Winters Light & Power
Co
(Pa )
Ctmcora
Ballinger
C°Eam?ngs—Stine ^ °°"
Dec. 31 '18. Dec. 31 *19. Dec. 31 '20.
$645,150
$724,446
$914,995
GrnS
oSSting"Vx"^s::::
(par $100) and the authorized common stock from 100,000 shares to 135.000
snares
$1,293,000.
cured bv underlying
Net
-
443,927
519,460
711,075
$201,223
$204,986
$203,920
MISCELLANEOUS COMPANIES
Date
Par
Amount
Bate
When
[For abbreviations, &c., see notes on page 6]
Bonds
Value
Outstanding
%
Payable
Invincible OH Corp—Stock auth $50.000,000-.
Funded debt and notes see text
Dividend
and Maturity
Places
Where Interest and
Dividends are Payable
—
105,226sh
None
10-year gold debs $5,000.000
986.300
10
See text
1919
Tdo"&c
100
1,750,000
1,000
O
100
7
4.000.000
30.000.000 Dividend
OFFICERS.—Pres., Wm. Howard Hoople; Treas., W. C. Harty; Sec.,
E. Wilsey and M. B. Webster.
Robert W. Davidson; V.-P., A. E. Fitkin, R.
V. 112, p. 166.)
^
& STEEL CO.—(V. 112, p. 854.2088.2196.)
do
do
J July 1 1050
do
r do
Oct 11919
New York
134 New York
Nov 21-May '22
Octl5 20
H?,
do
"Q—j"
Apr 1
do
1921 134
not rep orted
M
&■
S May 1
Q—F
Mayl
s
5
7,991.500
D June 1 1926
text
18.918.000
2.600.000
1,000
100
100
A
A
M—N
100
1909
3d" Wall""it."
A Feb
text
6 g
10,000.000 See
100
April 15 1929
15'21 2H
&
Dividends not reported
12.000.000
3.640.000 See
100
$2,500,000
Office, 141 Broadway. N. Y. City.—(V. Ill, p. 78:
text F
1.500.000 See
J
175.000
5g
J
5 g
1.673.000
1.000
1.000
1919
1927
6%
5,500.000 7 A partic
100
1896
1910
May 16 1921 2
Q—F
22,600.000
-
Common stk
Jones Bro. Tea Co Inc (Grand Union Teal
Pref stock 7% cum call 1102% sf 1920-Jones & Laughlln Steel Co—Stock
...—
1st M $30,000,000 g s f red 105 beginning 1914.
FC *r»*
8
100
1917
Island Refining Corp—7%APartic 10-yrg bonds $0.000.000
Jttierson et ctearlieid Coal A Iron—Pre! stock 5% non-cum
Seoond mtge gold sinking fund drawn at 105--._Usm.sc'
Indiana County 1st M $2,500,000 autb sinking fund..-Ox
Jewel Tea Co—Common stock $12,000,000
Pref stock 7 % cum *4 000 000 call 125 A divs..
Ser g notes $3,500,000 (due semi-ann-text) call 101-Cec*
INTERSTATE IRON
Last
$50 $21,056,815
...
Iron Products Corp—Com auth 150.000 shares
...—
Pref 8took 8% cumul conv auth $3.000.000
Island Oil & Transport Co stock, (v. t. c.) $30.000,000
Kansas City Stock Yds Co of Maine—Com stk
Pref stock (a Ac d) 5% cum $9,000,000 auth
189
STOCKS AND BONDS
INDUSTRIAL
May, 1921.]
Q—F
New York and Chlcagt
1939
1921 2% Kansas City, Mo
Mayl '21 1J4% Kansas City, Mo
JEFFERSON A CLEARFIELD COAL & IRON CO.—ORGANIZATION.
See V. 62, p.
—orcran^ed under the laws of Pennsylvania in May 1896.
908; V. 63, p. 115.
aTOUK.—The $1,500,000 common and $300,000 of the $1,500,000 of
ien-cum.
5%
pref. stock is owned by the Rochester & Pittsburgh Coal & Iron
(the dommon mostly pledged as security for its bonds: V. 75. d. 1357).
DIVS.— [ 1901. 1902 to 1905. *06 to'14. '15-16. *17-'18. *19. '20. '21.
to.
INVINCIBLE OIL CORP.—ORGANIZATION.—Incorp. June 16 1919
Virginia and acquired (a) entire capital stock of Invincible Oil Co. (Okla.);
(6) 50,000 shares of com. stock of Louisiana Oil Refining Corp. (Va.);
(c) majority of the stock of Gladstone Oil & Refining Co. (Okla.).
The
Arkansas Invincible Oil Corp. (entire stock owned) was organized in July
1920.
Other subsidiaries are the Montrose Oil Refining Co.. Inc., and the
Louisiana Oil Exporting Co.. Inc.
Through its subsidiaries the company
in
District. Texas, Okla.,
Production in Dec. 1920 about 8,000 bbls. daily.
capacity of 9.000 bbls.
Also pipe
(a) Homer Field to Shreveport, (b) Caddo Field to Shreve-
01
5% yearly.
None.
I—1897 to Aug. '14. 5% yrly—
pref. in 1921: Feb. 15.2^%.
Jommon,%(
Preferred.%
On
None
__
5 yrly
None
3J*
5
8
8
See
text
BONDS.—The final $62,000 1st M. 6s were called for payment on June 1
106, p. 2232.
In July 1910 filed mtge. for $2,500,000,
covering about 16,000 acres coal lands in Indiana County, Pa., of which
1918 at 105.—V.
is interested in about 135.000 acres located in Ranger
$1.9003)00 Issued.
Alabama and Louisiana.
REPORT.—Year ending Dec. 31 1920: Gross, $6,331,011; net profit
(after deprec., Fed. taxes, &c.)f $1,226,429; pref. divs., $120,000; com.
divs., $120,000; bal., sur., $986.429.—(V. 110, p. 1854; V. Ill, p. 1665.)
Has two refineries with a combined daily
lines
as
follows:
port, (c) Crichton
Field to Shreveport, (d) gathering lines Cement Field,Okla
N. Y. Stock Exchange,
Official statement to
V. Ill,
p.
91.
tax up to 2%.
Denom. $1,000, $500 and $100 (c*).
Company will not
mortgage any of its properties or permit its subsidiaries to create any debt
except purchase money mortgages, tank car equipments or oil acceptances.
A quarterly sinking fund commences Sept. 1 1921 and will retire l-10th of
the total authorized issue of bonds each year.
If in any year total cashdivs.
capital stock exceed the sinking fund payments, such payments
shall be increased in that year to equal such excess.
CONVERTIBLE.—Convertible into capital stock at prices of $30 per
share during the first 12 months' period, but increasing $1 per share for each
12 months' period thereafter up to $39 a share.—V. 112, p. 1404.
There are also outstanding $2,914,096 purchase money notes (payable
serially to 1924) and $961,684 tank car equipment obligations.
EARNINGS.—Net earnings (incl. subsidiaries) available for interest
charges after deducting the proportionate interest of minority stockholders,
for 1920,
before depletion and depreciation, amounted to $7,592,447.
Balance Sheet, Dec. 31 1920, V. 112, p. 1404.
OFFICERS.—F.
Maxwell
p.
166
,
Stevenson,
658, 938.
Douglas Cochrane, Chairman; E. R. Ratcliff, Pres.;
Treas.; Edw. A. McLaughlin, Jr., Sec.—(V. 112,
1404. 1622.)
IRON PRODUCTS CORP.—ORGANIZATION.—Incorp. May
29 1919
of Newark, N. J., and Central
Foundry Co., per plan in V. 108, p. 2530.
Also has purchased the prop¬
erties of Chattanooga Iron A Coal Corp. V. 109, p. 1796. In March 1921
purchased the capital stock of the Molby Boiler Co., V. 112, p. 1288.
in Delaware and acquired the Essex Foundry
CAPITAL STOCK.—Pref. stock is redeemable at 110 and is convertible,
before Jan.
1
1930, into
1 2-3 shares of common for each share of pref.
EARNINGS.—Year ended
Dec. 31
1920: Gross.
$1,567,254; net, after
int., taxes, deprec., Ac., $704,552; pref. divs., $75,296; bal., sur.,
OFFICERS.—Chairman,
Stephen J.
Leonard;
Pres.,
Griffiths.—(V.
112,
p.
475.
OIL
&
Sec., F. D.
TRANSPORT
2429.)
CORP.—ORGANIZATION.—{See
Map.)—Incorporated in Virginia in 1917 to produce and transport oil from
bordering on the Caribbean Sea and in Mexico.
Through stock
ownership owns large acreage in Mexico (in the Tampicos) and Cuba.
See
Island Refining Co. below and V. 108, p. 1393.
Acquisition of Metropolitan
Petroleum Corp. a,id settlement of suit, V. 110, p.1752, 2295, 2492.
In Oct. 1919, the Massachusetts Oil A Refining Co.. a majority of whose
$5,000,000 Common stock la owned by the Island Oil A Transport Co*,
issued $3,000,000 7% Participating Convertible 10-year bonds, due Oct. 1
1929, and has completed construction of a modern refining plant in Boston
Harbor with an initial capacity of about 1,400,000 barrels of crude oil per
annum.
V. 109, p. 1796.
The company controls, by ownership or lease, oil rights in the Mexican
oil fields for upwards of 77,000 acres, a majority of which is said to be in
proven or semi-proven localities.
During 1920 the company shipped 12,872,884 bbls. of oil against 6,213,145 bbls. in 1919 and 1,595,526 bbls. in
1918. Compare V. 112, p. 1166.
fields
Notes.—In Feb.
1921 $1,025,000 short-term notes were retired, leaving
outstanding $700,000.
REPORT.—For calendar year 1920, in V. 112, p. 1166, showed:
Calendar
Gross
Net Income
Interest, Depreciation &
Balance,
Year—
1920
1919
—
Income.
$15,355,674
4,053,199
from Oper.
$7,941,722
1,226,655
&c.
$628,413
663,726
Depletion.
$3,387,160
13,000
Surplus.
$3,926,149
549,929
OFFICERS.—Pres., A. J. Stevens; V.-Pres., M. J. Murphy, J. A.
Young and T. F. Wickham; Sec., Lloyd Robinson; Treas., f. R. Alloy.
Office, 90 West St., New York.—(V. 112, p. 67, 166, 1139, 1166.)
ISLAND
REFINING
CORPORATION.—ORGANIZATION.— This
organized in April 1919 under the laws of Virginia as a sub¬
sidiary of the Island Oil & Transport Corporation, which owns the entire
$10,000,000 capital stock.
See statement above.
The company has completed the construction of a 5,000-bbl. refining plant
at Sarpy, La., 22 miles above New Orleans, and its 5,000-bbl. topping plant
at Palo Blanco, Mex., is nearing completion.
The latter plant is adjacent
company was
sea-loading station of the Island Oil A Transport Corporation.
plant will produce gasoline and fuel oil and the Sarpy plant
producing gasoline, gas oil, fuel oil and will produce coke.
to the
The Mexican
is
BONDS.—The Refining Company has authorized an issue of $6,000,000
Participating Ten-Year Gold Bonds to be dated April
15 1919, and to mature April 15 1929.
These bonds in addition to 7%
Interest are entitled to participate in dividends receiving a pro rata share
of an annual distribution of 20 % of the net earnings (after deducting sink¬
ing fund requirements) of each calendar year.
The bonds are a direct first
mortgage on the American plant and by the pledge of all the stock of the
Seven Per Cent. A
company
owning the Mexican plant.
V. 108, p. 1393.
The shareholders of the Island Oil A Transport Corp. were offered the
right to subscribe for the initial issue of $4,500,000 of these bonds in April
1919 at 92H%. This issue was underwritten by a syndicate, headed by
A. B. Leach A Co., N. Y. City.—V. 108, p. 1393; Y. 109, p. 1465.
91,
p
279.
JEWEL TEA CO., INC.—ORGANIZATION.—Incorporated in N. Y.
Jan. 14 1910 to take over the Illinois co. of the same name.
Sells coffee,
ea,
baking powder, soap, Ac.
Main offices and plants in Chicago and
V. 108, p. 2026.
Large shipping station leased In Hoboken,
Hoboken.
CAPITAL.—Pref. stock, $4,000,000; retired to Dec. 31 1920, $360,000.
Q.-J.;
April
1 1916 to Oct 1919,
1H%
Quar.
(7% p. a.).
Common auth., $12,000,000
$100.)
Pref. redeemable at option of directors on 90 days' notice at
[25 and accrued divs.
Property cannot be mortgaged; pref. stock cannot
be increased without consent of % in interest in both classes of outstanding
stock# tfkirpTi 80p^r?il/0Jy«
*
GOLD NOTES.—The $3,500,000 6% gold notes of 1919 mature in semiann. (M. A N.) installments of $750,000 in Nov. 1921 and $1,000,000 May
1922, but are callable on any Int. date at 101 and int., but not less than the
whole of any one maturity.
For protective provisions, see V. 108, p. 2026.
Paid off $500,000 on May 1 1920, $500,000 on Nov. 1 1920 and $750,000
Divs.
Jan.
1920 dividend omitted (V. 109, p. 2268.)
par
May 1 1921.
REPORT.—For calendar year 1920, in V. 112, p. 1288, 1396, showed:
1920.
1919.
Net
1918.
$16,538,635
$5,598,496
foss$2,183,506fossil847,203
$695,738
(7)266,895
Net sales for calendar years
profits
Preferred dividends paid_
(5 H) 193,776
Balance, surplus, for years
def$2,183.506def$2,040,776
$428,843
OFFICERS.—Pres., Raymond E. Durham; V.-Pres. A Treas., John M.
Hancock; V.-P., O. B. Westphal; Sec., Harold F. Lindley.
Office, 5 North
Wabash Ave., Chicago.—(V. 112, p. 1288, 1396, 1982.)
JONES BROTHERS TEA CO.. INC.—ORGANIZATION.—Est. as a
co-partnership in 1872.
Incorp. in N. Y. State in 1910 as Jones Bros. Co.;
present name adopted in 1916 (V. 103, p. 2346).
Owns In Brooklyn, N. Y„
a plant covering a full
block for preparing and packing tea, coffee, spices,
baking powder, soap, Ac., also does importing and jobbing business at 107
Front St., N. Y.
Controls (a) Globe Grocery Stores, Inc., operating
188 stores in Pa.. N. Y., N. J. and Ohio; (&) Grand Union Tea Co. relallingtbe company's products only), through 195 stores, (c) Anchor Pot¬
N. J.
Trenton.
tery
STOCK.—Pref. stock (see table above) ofrered by Merrill, Lyncn A Co.
1916 (V. 103, p. 2347).
No bonds or mortgagee without the con¬
sent of 75% or the pref. stock; the pref. is redeemable at 110 and is subject
In Dec.
1288.)
ISLAND CREEK COAL CO.—(V. Ill, p. 594, 1284, 2144,
ISLAND
$629,256.
Geo. A. Harder;
V.-Pres. A Treas., Stephen Barker; V.-Pres., Jas. E. Hewson;
1341: V
p.
n
BONDS.—$3,000,000 Convertible 8% Sinking fund Gold Bonds.
Auth.
$6,000,000.
Dated
larch 1 1921. due March 1 1931.
Red at 110 and
int
Int. Q.-M., payable at Chase National Bank. N. Y., trustee, or First
National Bank, Boston, without deduction of any normal Federal income
on common
V. 85.
a yearly Rinking fund of 2%.
DIVIDENDS.—Paid on pref. stock In full to date.
Dividends of M
each were paid on common stock Oct. 15 1917 to Oct, 15 1920.
Jan. 1921 div. omitted.
V. 112, p. 263.
1921 —march—1920.
1921—3 Mos.—1920.
to
if 1%
$1,472,691
Sales
$1,659,796
$4,2.56,305
REPORT.—For year.ending Dec. 31 1920, in V. 112, p.
1920.
1919.
1918.
Calendar Years—
Sales.
Net profits before taxes.
Net profits after taxes..
Res. for work
$4,624,112
1404, shows;
1917.
$22,743,098 $22,231,382 $15,832,697 $13,252,059
636,146
729,544
604,019
495,332
capital
x
Pref. dividends (7%)-..
Common dividends (2%)
280,000
200,000
See above
Exc. prof. & inc. taxes..
150,000
280,000
150".660
280,000
(1H) 1*0 000
85,000
73.678
200,000
150",000
280,000
(1)100 000
57,030
def48,759
sur$49,116
x Under the terms of the consolidation agreement of Dec.
5 1916, the
Co. was obligated at Dec. 31 1920 to have set aside out of surplus $500,000
as a reserve for additional working capital.
This appropriation, we learn,
has now been completed, as has also the $80,000 which it was agreed should
be set aside prior to said date for the redemption of preferred stock.
Pres.. Harry L. Jones, Brooklyn, N. Y.; Frank C. Terhune, Treas., and
A. R. Doerle, Sec.—(V. 112, p. 263, 378, 854,1404,1872, 1982.)
Bal.,
sur. or
sur$15,332
def
sur$14,544
—Incorp. In
of Jones A Laughllns.
Woodlawn. 20 miles
coal and railroad properties.
V. 93, p. 49;
JONES & LAUGHLIN STEEL CO.—ORGANIZATION
Penn. June 1902. succeeding the limited partnership
Ltd.
Owns plants and property at Pittsburgh and
from
V.
Pittsburgh; controls
ore,
112,_p. 378.
of 1909
($25,000,000 of which were Issued)
secured by all the
property owned or hereafter acquired and further
by pledge of stocks of subsidiaries owning coal mines, ore lands and railways.
Net quick assets are always to amount to $8,000,000, while an equal
amount of bonds are outstanding.
Sinking fund equal to 1-I5th of bonds
Issued
V 93. p. 49; V. 92. p. 1503: V. 88. p. 1257
OFFICERS.—Pres., B. F. Jones Jr.; V.-P., W. L. King; V.-P A Gen.
Mgr., W. L. Jones; V.-P., George M. Laughlin, Jr.; Sec., W. C. Moreland;
Treas., James C. Watson, and Asst. to Pres., C. A. Fisher.
Office, Pitts¬
burgh, Pa.—(V. 112, p. 378, 1982.)
BONDS.—The first
5s
are
_
KANSAS CITY GAS
KANSAS
CITY
CO.—(V. Ill, p. 194.)
STOCK
YARDS CO.
OF MAINE.—ORGANIZA¬
TION.—Incorporated in Maine in Dec. 1912 and acquired per plan V. 95,
&.o.of Missouri, which the $8,750,000 stock ofused Kansas City Stock Yards
1275, about 95% of owns about 175 acres the for stockyards purposes,
on which 6% dividends were paid for over20years.
Stock auth.. common.
$2,600,000; pref. (p. A d.). 5% cum. non-voting $9,000,000
No mortgag*
except with the consent of 66 2-3% of the pref. stock.
Div. on common.
6%, Nov. 1 1915; '17 and '18 5% yearly: '19 Feb. IH%; May 1 H%: Aug.
and Nov. 1919, 1 H%; May 1919 to Aug. 1920, 1M% quar.; Nov. 1920 to
May 1921, 2% quar.
Pres., George R. Collett; Sec., L. G. Trickett;
Treas., W. J. Pray, Kansas City.—(V. 105, p. 1621, 2098; V. 106, p. 504
V. 112, p. 475.)
MISCELLANEOUS
[For abbreviations,
Date
Par
Amount
Bate
When
Last Dividend
Bonds
Valve
Outstanding
%
Payable
7
$100 x$2.400,000
Q—J
Apr 1 1921 1H
MAS Mch 1 1922
5.868,000
1.000
100
6,611,500 8 In 1920
Q—J
Apr 1 1921 2%
100
Q—F
1,716,900 7 In 1920
May 1 1921 1X
100
83.500 7 In 1920
Q—F
May 11921 1H
1
Oct 25 '20, 6X
6,922,309 See text
bee text
25
9,532,650 See text
.
1910
First mortgage
(J6.000.000) gold oallable (text)—G.xxxo*
(Julius) Kayser & Co—Common stock J6.750.000--First pref (a A d) 7% cum J3.000.000 redeemable at 120 —
Second pref (a & d) 7% cumulative J750.000 (see text) —
Kay County Qas Co—Stock $10.000.000
—
Kelly'Springfield lire Co—Common stock $10,000,000—-
100
fund 3%
10-year sinking fund gold notes red 110
Ce.kxxxc*
Kelsey Wheel Co—-Common stock $10,000,000 (V105, p 75)
Prer stock 7% cum redeemable at 125 and divs
Kennecott Copper Corp—Stock 3.000.000 shra. no par val
Ten-year secured gold bonds redeemable (see text)—Ba .r*
Bonds Braden Copper Mines, Ac, see text
8
3,237.100
5.860,200
100 &c
10,000,000
100
10.000.000
100
2.727,900
None
2.787,081sh
1921
(x) Including $56,400 In the treasury.
KANSAS GAS & ELECTRIC CO.—Incorp. in Deo. 1909 in W.
va. as »
852): also owns entire stock and bonds of Homi
Light, Heat A Power Co. of Pittsburg, Kan., Ac.
Owns electric gener¬
ating plant, aggregate capacity 34.430 k. w.. including new 18.000 k. w
plant at Wichita.
The company has 353.2 m. of high voltage transmission
lines and 211 miles of gas mains.
Gas customers. Dec. 31 1920, 18,158:
electric customers, 32,9l9.
Company buys natural gas from Wichita and
Kansas Natural Gas Co's.
See full data, V. 93, p. 170, and V .97, p. 113.
p.
Company supplies without competition electric light and power and natural
gas to Wichita and Pittsburg and electric light and power to Independ¬
ence. Newton,
Arkansas City, Cherryvale, Eldorado and 15 other com¬
munities In Kansas.
The company also supplies at wholesale electric
light and power service in Parsons and two other communities.
Population
served estimated at 175,000.
STOCK.—Common
$6,000,000,
auth.,
of which there is outstanding
cum.,
par.
$100.
DIVIDENDS.—Quar., \%% on pref. stock July 1910toApr.l
1921,inci
BONDS (see table).—Redeemable In whole or in part for sk. fd. at lOf
31 1917. at 104 in 1918. 103 in 1919,102 in 1920 and 103
Reserved bonds issuable for not over 80% of cost of
and int. up to Dec.
and int. in 1921.
impts., Ac.,.provided earns, are twice total interest charge on all bonds is¬
sued and to be issued, and provided that net earnings exclusive of earning!
both Kansas Gas A Electric Co. and Home Light.
be not less than 134 times the interest charge.
V. 92, p. 1439.
Improvement fund payments on total amount of bonds out
March 1 each year as follows: 1% 1913-15; 2% 1916-18; 3% 1919-21.
Im
provement fund may be used as sinking fund.
All bonds acquired foi
sinking fund shall be canceled.
V. 107, p. 806.
of natural gas business of
Heat A Power Co. shall
1987-
REPORT.—For 12 months ending March 31:
$3,941,178
2,824,402
1920-21
1919-20-
$814,992
807,033
$627,630
506,609
$165,675
152,071
$21,687
148,353
Will
Pres., H. P. Wright; Sec., Chas. H. Smyth, Wichita, Kan.; Treas.,
iam Reiser.
N. Y. office, 71 B'way.—(V. 108, p. 385, 883.)
KAUFFMANN
STORES,
DEPARTMENT
INC.—(V.
112,
P-
854,
KAY COUNTY QAS CO.—ORGANIZATION.—Incorp. Dec. 20 1911
Was originally only a gas distributing company, but is now
in Oklahoma.
branches of the oil and gas business except the refining
business.
As a producing gas company has holdings in excess of 350,000
acres.
Has considerable and valuable holdings in tbe Osage Nation and
elsewhere.
Owns and controls a main line system for the purchase and sale
of gas, and owns and controls four pipe line sytems for the gathering and
transportation of crude oil.
Most of its oil producing properties have been
bought in partnership with Marland Refining Co. (see below) and other
companies.
V. .109, p. 1896.
The Marland Oil Co. was incorp. in Oct. 1920 for the purpose of acquir¬
ing by consolidation the
Marland Refining Co. and the Kay County
Gas Co.
For terms of exchange, Ac., see statement of Marland Oil Co.
below.
The plan was declared effective in Jan. 1921.
V. 112, p. 263.
STOCK.—The company was formerly capitalized at $1,000,000 (pal
$1).
This was increased in 1919 to $10,000,000 of which $4,000,000 was
issued to shareholders at par, making $5,000,000.outstanding.
The share¬
holders were offered the right to subscribe at $2 per share (par SI) from Dec'
1 1919 to Jan. 15 1920, inclusive for $4,000,000 new stock in amounts
equal to 80% of their respective holdings.
V. 109, p. 1896.
Stock in
treasury Dec. 31 1920, $1,630,411.
Initial div. of 5 cents a share was paid
on July<15 1920; on Oct. 251920 paid 6 lA cents.
President, E. W. Marland.
Office, Ponca City, Okla.—(V. 112, p. 263, 1404.)
engaged in all
(JULIUS) KAYSER& CO.—ORGANIZATION.—A re-inoorporatlon (in
Y.) June 1911.
"The largest manufacturers of silk gloves in th«
world" (output between 10,000,000 and 11,000.000 pairs yearly); also manu
facturing lisle and silk gloves, silk hosiery, silk and cotton-ribbed under¬
wear, dress nets and veiling.
Plants at Brooklyn, Amsterdam, Sidney,
Oneonta, Bainbridge, Walton, Cherry Valley. Rockville Center, Monticello,
Cobleskill. Hornell, Syracuse and Owego, N. Y., and Sherbrooke, Que.
V. 95, p. 1405; V. 92, p. 1568; V. 107, p. 185.
Annual sinking fund cancel¬
ing first pref. stock at or under 120, $150,000. V. 92, p. 568; v. 105, p.2270.
DIVIDENDS.—On common, April 1912 to Jan. 1913, 1% quar.: April
1913 to Oct. 1916, lHVo quar.; Jan. 1917, 1H% and 1% extra; April, July
and Oct. 1917, IX%\Jan. 1918, 2% and 1% extra; April 1918 to Apr. 1921,
2% quar.
V. 106, p. 2277.
N.
REPORT.—Year ending Aug. 31 1920, In V. Ill, p. 2421.
1919-20.
1918-19.
Profits
(after depreciation)...
Redemption of preferred stock
Miscellaneous deductions
preferred dividends.
Second preferred dividends
Common dividends
Balance,
$1,112,354
1917-18.
$2,055,8331
$1,585,631
600,000/
150,000
150,000
12,682
4,906
126,897
133,006
134,057
6,212
7,263
15,342
(8%) 528,190(8%) 527,200 (8 34) 564,900
Fed. income and excess profits taxes._
First
Com.
surplus
105,000
150,000
15,341
$180,514
$625,683
$716,436
Balance sheet of Aug. 31 1920 showed: Profit and loss, surplus. $5 370 705; special reserve account, $500,000; reserve for Federal taxes, $105,000
and for change in prices, $500,000; surplus applied in redemption of pref
stock, $1,400,000.
OFFICERS.—Pres., Edwin S. Bayer; V.-P., Wm. A. Shakman; V.-P.
A Treas., L. Lewinsohn; V.-P., H. L. Van Praag; Sec.. S. W. Sinn; Comp.,
A. Flume.
Office, 353 Fourth Ave., New York.—(V. Ill, p. 2421.)
(GEO. E.)
KEITH CO. (SHOES).—(V. 109,
KELLY-SPRINGFIELD
MOTOR
p.
1530. 1796.
TRUCK CO.—(V.
106.
p.
2348.
KELLY-SPRINGFIELD TIRE CO.—ORGANIZATION.—Incorp.
in
N. J. April 15 1899 as Consolidated Rubber Tire Co.; name changed Jan 2
1914.
In March 1917 purchased for cash the Northland Rubber Co. of
Buffalo.
V. 104, p. 955.
Manufactures a full and complete line of pneu¬
matic tires and tubes.
Is one of the largest producers in the country or solid
Products are distributed through 31 branches established in
important business centers of the country and approximately 19,000 active
Owns and operates 3 plants located in Akron, O.;
Wooster, O., and Cumberland, Md.
V. 108, p. 1835, 2634.
Compare
£Lso V. 111. p. 1374; V. 112, p. 854, 945, 1872.
P
STOCK.—On Nov. 30 1915 the par value of the common shares was
changed from $100 to $25 by Increasing the number of shares fourfold.
First pref. has a 2% sinking fund which to Dec. 31 1920 had retired and
canceled $521,100 of the $3,758,200 first pref. theretofore issued.
truck tires.
accounts with dealers.
Guaranty Trust Co, N T
Guaranty Tr Co, N Y
do
do
do
do
New York
do
1 1921. m
15 May 16 '21 2%
New York
MAN May 15 1931
Q—P
See^ text
7 g
May 1 1921 IX New York
Dec
" A"
F
A Feb
31
*20 50c New York
1 1930
New York
f *99. '00.
stock.__
1915.
7H
1914.
__
1916.
15
1917 to Feb *21
16
(4%Q-F)
From May 1 1919 to Feb. 1 1921 paid a stock dividend of 3% along witb
the regular quarterly cash dividend of $1.
In May 1921 paid 3% in stock,
the cash div. being omitted.
V. 112, p. 1522.
REPORT.—Report for
Calendar
Years—
19
Cross
year
ending Dec. 31 1920, V. 112, p. 929, 945:
Total Net Int.,Sink.
Earnings.
Income.
Fund, &c.
$
$
$
1920-.—7,721,901 4,035.445*2,778,653
7,034,284 3,532,08712,970,241
7,187,834 4,589,765 x658,663
4,323,955 2.648,913
75,164
Pref.
Common
Balance,
Divs.
Dividends. Sur. or Def.
$
$
$
663,042al,567,564 def.
973,814
316,230 1,255,187 def.l,009,571
205,959
785,152 sur.2,939,992
213,078
785,152 sur.1,575,520
Includes (*) $500,000 res. for invent
and $702,501 for Fed
taxes.
(*) $2,674,951 and (x) $434,124 for Federal taxes,
a Includes $671,813
dividends paid in stock.
OFFICERS.—Arnold L. Scheuer, Chairman; A. B. Jones, Pres.; F. A.
Seaman, Maurice Switzer, T. C. Marshall and C. A Brown, V.-Ps.; H. B.
Delapierre, Treas.
N. Y. office, 200 W. 57th St.—(V. 112, p. 167, 475,
854, 929, 1029, 1522, 1872, 2089.)
WHEEL CO.. INC.—ORGANIZATION.—Incorporated In
Aug. 23 1916, and took over as of Dec. 31 1915 the entire assets
KELSEY
N. Y.
1982.)
Checks mailed
In July 1919 shareholders had the right to subscribe at par for $5,860,200
of an issue of $7,000,000 8% cum. (2d) pref. stock, underwritten.
This 8%
pref. is redeemable on or after Aug. 15 1922 at $125 A divs., and will have
■Inking fund after Aug. 15 1921 equal each year to 3% of maximum amount
Issued, payable before any dividend is paid on common stock.
The 6%
pref. has voting power; the 8% pref. has no such power unless two of its
quarterly dividends remain unpaid.
V. 108, p. 2634; V. 109, p. 683.
Common stockholders of record Oct. 15 1920 had the right to subscribe
to additional common stock (par $25) at $50 per share to the extent of 35%
of holdings.
V. Ill, p. 1284, 1374; V. 112, p. 854.
NOTES.—The 10-year 8% notes of 1921 have a sinking fund providing
for the retirement of the entire issue at 110 and int. by drawing by lot
$1,000,000 p. a. ($500,000 on each int. date) beginning May 15 1923, and
continuing until May 15 1931, when the remaining $2,000,000 will be
paid at 110 and int.
V. 112, p 2088
CASH DIV8.
?3,000,000, all owned by Amer. Power A Light Co., with public, Pref. stock
%
red. 115, autn., $6,000,000; outstanding which see.
$2,343,600
Where Interest and
Dividends are Payable
Q—F
8g
15,000.000
100 Ac
1920
T=f Apr
6
100
Pref stock 6% cumauth $4,239,200 call 110 sf 2%
Second Pref 8% cum $7,000,000 call 125 sinking
(V. 90,
Places
and Maturity
COMPANIES
&c., see notes on page 6J
Kansas Gas A Electric Co—Pref (a & d) stock cum red 115
consolidation
[VOL. 112.
STOCKS AND BONDS
INDUSTRIAL
190
on
and business of Kelsey Wheel Co. of Mich, and Herbert Mfg. Co. of Mich.,
going concerns, and the capital stock of Kelsey Wheel Co., Ltd., of
Wheel Co. of Tenn.
Owns one of the largest
the world. V. 103, p. 411. 848; V. 105. p. 75STOCK.—Auth. and Issued. $10,000,000 com. and $3,000,000 (par $100)
7% cum. pref.; pref. redeemed to Dec. 31 1920, $272,100. Pref. is redeem¬
able, all or part, at any time on 90 days' notice, at $125 and divs.
No
mortgage or funded debt.
See stock offering, V. 103, p. 411.
Div. on
pref. Nov. 1 1916 to May 1 1921, 7% per annum (154% quar.).
Notes
payable as of Dec. 31 1920, $2,392,000.
as
Canada and of the Kelsey
automobile wheel plants in
REPORT.—For calendar year 1920, in V. 112, p. 1288, 1396, showed:
Cal.
Net
Total Net
Deprec.,
Federal
Preferred
Balance,
Years
Sales.
Income.
Int., &c.
Taxes.
Dividends.
Surplus.1920._$25,200,913 $3,480,792 $864,784 $700,000 (7%)$.191,902$1,724,107
21,843,160
2,892,735
485,058
781,090 (7%)199,780 1,426,807
1918— 10,336,315
1,505,290
453,511
275,000 (7%) 204,750
572,029
1917— 11,321.356
1.722,864
377,609
305.000 (7%) 210,000
830 255
Pres., John Kelsey.—(V. 112, p. 1288, 1396.)
1919—
KENNECOTT
COPPER
CORPORATION.—ORGANIZATION
.—
Incorp. on April 29 1915 In N. Y. with 720,000 shares without par value,
and took over the Kennecott and Beatson properties in Alaska.
V. 100►
?. 1922. for the purpose of acquiring (V. 101 j>. 1717,1811,1889,2076):
of shares was increased t
.000,000 On Dec. 14 1915 the number
(a) The stock and convertible bonds of the Braden Copper Mines Co.
(mines in Chili); (6) 404,504 shares of the capital stock of the Utah Copper
Co.; (c) All stock and bonds of Copper River RR. In Alaska (V. 102,
p. 1889), and 13,000 shares of the capital stock of the Alaska SS. Co.
(d)
To retire the $10,000,000 6% 10-year convertible bonds of the Kennecott
Copper Corporation.
See full statement to N. V. Stock Exchange In
V 102. p. 805.
.
On Dec. 31 1S20 owned (a) $12,829,930
The last-named company In Feb.
Co.
stock of Braden Copper Mines
1916 sold $15,000,000 First Coll.
trust 6% sinking fund gold bonds. V. 102. p. 624. 714.
See caption of Bra¬
den Copper Mines Co.
(b) $2,386,413 out of $4,600,000 stock of Alaska
SS.Co. (c)
Entire
$4,817,400 stock
Copper River A N. W. Ry.
and
$23,020,000
first
mtge. 6s of
(d) $6,165,040 stock of Utah Copper Co., out
of $16,244,900.
V. 104, p. 1148; V. 106, p. 1904.
The Mother Lode Copper Mines Co. property
In Alaska adjoins the
1919 deeded all Its property to Mother Lode
in Delaware on April 17 1919 with a capital
©f 2,500,000 shares (no par value), of which Kennecott Copper Corp. owns
51 %.
Funds to redeem Ten-year 6 % bonds outstanding, issued by Mother
Lode Copper Mines Co., was deposited by Mother Lode Coalition Mine Co.
V
106. p. 2348; V. 107. p. 407, 2102: V. 108. p. 1393. 2246.
DIVIDENDS.—An initial dividend of $1 per share was declared In Feb.
1916, payable March 31.
V. 102, p. 526; June 1916 to Sept. 1917, $1 50
quar. ($6 yearly); Dec. 1917 to Dec. 1918, $1 quar.
March 1919 to Dec.
1920 paid 50 cents quar.
Mar. 1921 div. was omitted.
V. 112, p. 938.
Late divs. have been one-half capital distributions.
In July 1917 paid a
Bonanza mines, and in April
Coalition Mines Co., incorp.
Red Cross div. of 20 cents
BONDS.—The 10-year secured 7s are secured by pledge of
500,000 shares
capital stock of Utah Copper Co.
Redeemable all or part at par and int.
a premium of 1 % for each year or portion of year from date of maturity,
proceeds used to pay $12,000,000 notes maturing March 1 1920, and to
provide additional working capital.
Guarantees $2,024,000 8% notes of Copper Export Association, Inc
V. 112, p 655.
REPORT.—For year ending Dec. 31 1920 (V. 112, p. 1971), showed
Production (pounds)—
of
plus
1921—April—1920I
1921—4 Mos.—1920.
8,319,760125,137,960
34,322,660
Gross
Net
Interest & DeprecDivs. (See
Balance,
Cal.
Earnings.
Income.
Taxes.
&c.
"x" below).
Surplus.
Year—
$
$
$
$
$
$
1920
$8,437,190 $6,477,019 1,210.937 222.104 x5,574.162 dfl,317,6865,603,910
3,938,381
820.884
382,853 x5,574,145df2.340,202
1918
15,080,927 14,672.272 898,307 1,222,872 11,148,178
1,402.915
1917
16,026,105 19.283.481 1,318,579 845,427 15,885,721
1,233.754
1916
28.752,857 28.552.607
667.985 222.909 15.320.283 12.341.431
x Includes "capital distributions" as follows: in 1919, $2,287,793; in 1918*.
$5,574,089; in 1917. $5,574,056.
,■
5.213,000
Earnings.
%
MAT, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on page 6]
Date
(S Hi Kress & Co—Common stock $12,000.000
Pref stock 7% cum $5,000,000 auth.: s fd 1918 call at 125-la Belle Iron Works—Common stock $17,000,000 auth
Preferred stock (a & d) 8% oum $10,000,000 authorized..
First A Ref M $7,500,000 call 105
PeP.c*
Par
Bonds
Keystone Telephone Co. of Phils—1st M g red 108Colxc*r
Equip & 1st M Collat s f call 101
FPzz.c*
Eastern Telephone A Telegraph Oo 1st Mortgage
Keystone Tire & Rubber Co—Stock auth $5,000,000
(B B & R) Knight, Inc—Common stock auth 100,000 shxs__
Pref (a A d) stock 8% cum auth $5,000,000 red 110
1st mtge s f gold bonds auth $10,000,000 red text)__xxx
18 S) Kresge Co (New Mich Oo)—Common stk $20,000,000Pref stock (new) 7% cum from Apr 1 '16
pref a A d._
8erial gold notes (see text) red 102
Eq.x
a
STOCKS AND
Value
1905
1919
1902
When
%
Payable
and
J
A
5 g
$1,000Ac a$6,725,000
M A
6 g
1,000
1,600,000
J
A
5
1,000
250,000
10
3,039,195 See text
Dividends
Maturity
July 1 1935
Nov. 1 1929
Dec
1 1920
Jan
Columbia Trust Oo, N T
Fidelity Trust Oo. Phila
Sec Tr Co, Camden, N J
1 1922
Oct
Payable
are
1 1921
3% New York
None
100,000 sh.
2,500,000
100 &c
7,500,000
100
1920
500 &c
100
100
100
600"&:c
1915
8
Q—J
2% Checks mailed
M &
S
N. Y., Boston or Chicago
Sept 1 1930
7 g
&
J July 1 1921
10.000,000 See text J
Checks mailed
7
2,000,000
Q—J
do
July 1 21
J
&
J See text
7 g
3,000,000
Equitable Trust Oo. N Y
4
12.000,000
Q—F
May 2 1921
$1
7
y—J
3.337,500
Apr 1 1921 m LawyersTitle A TrOoNY
Mar 31 '21
16,514.400 See text
Quar
Checks mailed
9,915,400 8 in 1920
Q—M Mar 31 21 2% Checks mailed
J
A
D Dec 1 1940
5 g
N Y, Phila. Bost, Ohla
2,421.000
100
100
1920
«
Excluding $1,500,000 under Equip A First Mtge of 1919.
OFFICERS.-—Chairman,
W.
C.
Potter;
Pres.,
Stephen Birch; V.-P.,
Treas., E. S. Pegram.
W. P. Hamilton, E. T. Stannard; Sec., Carl T. Ulrich;
New York office, 120 Broadway.
DIRECTORS.—Stephen Birch, Samuel J. Clarke, O. T. Ulrich, H. F.
Guggenheim, E. A. Guggenheim, Wm, Pierson Hamilton, H. O. Havemeyer
Seward Prosser and W
C
Potter, N. Y.—(V. 112, p. 658, 854, 938,
1150. 1622, 1971, 2089.)
^KEYSTONE STEEL & WIRE CO.— V. 107,
KEYSTONE
TELEPHONE
CO.
OF
p. 407. 2192; V. 108. p.
PHILADELPHIA.—"Indepen¬
dent" (of Bell) telephone system in Phila. and vicinity. The Phila.
Elect.
Oo. in June 1917 obtained the approval of Penn. P. S. Comm. to a
long
lease of conduit space at 4 cts. per duct foot with a
graduated minimum
rental rising to $125,000 yearly, with option of
purchase at end of lease
V. 100, p. 736: V. 103, p. 1035; V. 104, p. 1149; V.
105, p. 184.
Automatic
V. 112, p. 2089.
Stock, $2,500,000, all owned by Keystone Tel. Oo. of N. J., having out¬
standing $1,936,850 6% participating but non-voting pref. and $5,000,000
com. stock—par, $50.
Of the $5,000,000 common stock, a majority was
in voting trust till Feb. 1 1917; this has been renewed for 5
years.
V. 97.
p. 273: V. 104, p. 1149.
DIVIDENDS.—Regular semi-annual dividends of $1 50 were paid on the
pref. shares from Nov. 5 1913 to May 1919; none since to May 1921.
Accumulated dividends, previously 63%, have been reduced
by payments
as follows: 1915.
2%; 1916, 4%; 1917, 4>*%: 1918, Feb.. 2H%. leaving
about 59% accumulated.
V. 106. p. 194.
BONDS.—First 5s subject to call, as an entirety
only, at 108, beginning
July 1 1908; $6,725,000 have been sold; $1,500,000 are pledged under
Equip. A First Mtge. of 1919, $2,500,000 are reserved to acquire securities
of other telephone companies, and the remainder of auth.
$10,000,000 for
future purposes, at not over $600,000 yearly.
V. 81, p. 34; V. 88, p. 1625;
V. 89. p. 47; V. 99. p. 273, 541; V. 101, d. 1192; V. 108.
p. 883, 97T.
Proceeds of the $1,600,000 Equip. & First Mtge. Collateral
10-year
sink, fund 6% gold bds. are to be used for the installation of
the automatic
telephone system.
Secured by equipment trusts on automatic switch¬
boards to cost $966,000, and by
pledge of $1,500,000 1st M. 5s of 1905.
A
sinking fund beginning Nov. 1 1922 will retire these 6% bonds as follows:
1922 and 1923, $100,000 each; 1924 to 1926, $150,000
each; 1927 and 1928,
$200,000 each.
V. 109, p. 1704, 1991.
REPORT.—For the fiscal year ending Dec. 31 1920:
Calendar Years—
1920.
1919.
1918.
1917.
Gross earnings
$1,758,231
$1,656,450
$1,605,721
$1,639,299
Net earnings
718,766
560,522
664,043
747,449
Interest charges
436,998
363,695
334,484
335,271
switchboards installed.
•
Places Where Interest and
Last Dividend
Rate
|
Amount
Outstanding,
191
BONDS
Preferred
dividends
(3%)58,106(8^)164,632(8^)164,632
Balance,
surplus—__
$281,768
$138,722
$154,927
$247,546
The company received $126,070
compensation from U, 8. Govt, for
period of Govt, control.
V. Ill, p. 498.
N. T. Folwell, Pres.; James Collins Jones, 1st V.-P.; Edward M.
Oooke
2d V.-P. A Gen. Mgr.; Elwood F. Reeves. 8ec. & Treas. .Main
office,
135-141 So. 2d St., Phila.—(V. 112 ,p. 1982 2089.)
,
KEYSTONE
TIRE*&
RUBBER CO.—ORGANIZATION.—Incorp. In
New York Sept. 26 1911.
Engaged in business of buying and selling auto¬
mobile tires and tubes.
Has no plant, but holds contracts with the
CAPITAL STOCK—NOTES.—The stockholders voted on July 7 1920
common stock from $10,000,000 to $20,000,000.
an issue of $3,000,000 7% Serial
gold
to increase the authorized
The stockholders also authorized
notes, maturing $500,000 each Jan. 1 1922,
each Jan. 1 1925 and 1926.
The notes were
Common and Preferred, in proportion to their
and bear detachable stock warrants entitling
1923 and 1924 and $750,000
offered to stockholders, both
holdings of the stock, atpar,
the holder to purchase Com¬
mon stock of the company at $150
per share to the amount of two-thirds
of their holdings of notes.
See V. Ill, p. 78.
In March 1917 voted to increase par value of the shares of common and
pref. stocks from $10 per share to $100.
V. 104, p. 1049.
Parchase money mtges. and land contract payable Dec. 311920, $582,000.
July 1 1920, 3%; July 1 1921, 3%.
1921—April—1920.
Sales
$4,391,968
REPORT.—For year ending
1920.
Stores, No
,
Dec
31—
1921—4 Mas.—1920.
$4,000,448 $15,717,142 $14,100,241
Dec. 31 1920, in V. 112, p. 740:
1919.
175
188
1917.
1918.
170
Sales
Net income
W
ar exc.
$51,245,311 $42,668,060 $36,309,513 $30,090,700
$3,678,506
$3,505,201
$2,950,999
$2,360,988
prof. & inc. taxi
925,000
1,225,000
1,250,000
500,000
Res've for
contingencies/
Preferred dividends (7%)
140,000
(6%)600,000
Balance,
140,000
(6)600,000
140,000
(5)500,000
140,000
(4)400,000
$2,013,506
Common dividends
$1,540,201
$1,060,999
$1,320,988
surplus
OFFICERS.—Pres., S. S. Kresge; V.-P. & Gen. Mgr., C. B. Van
Dusen; V.-Pres., R. R. Williams and P. T. Evans; Treas., C. B. Tuttle;
Sec
R. A. Bell; Comp., A. J. Mclntyre.
Office, Detroit, Mich.—(V. 112,
p. 167, 567, 740, 1150, 1522, 1982.)
,
(S. H.) KRESS & CO.—ORGANIZATION.—Incorporated In N. Y. In
June 1916 to take over the 5-10-25-cent chain store busi ess of S. H. Kress
A Oo. of N. Y. and S
H. Kress A Oo. of Tex.
In Jan. 1921 was operating
145 stores.
Full official statement to N. Y. Stock Exchange in V. 104,
2143.
p.
STOCK.—Pref. 7% cum., auth., $5,000,000; $4,000,000 Issued; retired
Dec. 31 1920, $662,500, leaving $3,337,500 outstanding.
Common,
$12,000,000 auth.
The pref. will have no voting power unless and until
two quarterly dividends are in default.
May be redeemed, all or part, at
any time upon 90 days' notice at 125 and divs.
Annual sinking fund to
to
retire
pref. beginning in 1918. 3% of largest amount issued. No mortgage
possible without consent of 75% of each class of stock.
V. 102, p. 2080;
V. 104, p. 2143.
Dividends.—On pref., 1^% quar. Oct. 1916 to
1 1919 to May 2 1921, 1% quarterly.
stock Aug.
April
Sales—
1921.
1920.
October
$2,652,377
22.105,567
10 months
REPORT.—For
years
On com.
1919.
$2,418,789
18,446,535
ending Dec. 31:
Cal.
N. Y. City, which manufactures the Keystone
tire, for the entire output of said factories on a cost plus basis. The contracts
with these other companies terminate in 1923, with renewal
privileges. Also
buys surplus stock of tire manufacturers.
See full statement to N. Y Stock
Exchange in "Chronicle" of April 26 1919, p. 1729.
No.
Sales.
Profits.
Pref. Divs.
Com. Divs.
Bal.,Sur.
Yrs. Stores.
$
$
$
$
$
1920— .145 28,973,847
*960,855 (7%)239,465 (4%)480,000
241,390
1919
145 25,244,131 *2,075,826 (7%)258,330 (4%)480,000 1,337,496
1918
144 21,160.111 *1,158,717 (7%)264,828 (2%)240,000
653,889
1917
144 17,633,100 *1,465.461 (7%)280.000
1,185,461
STOCK.—Common, auth. increase from $2,000,000 to $5,000,000 (par
$10) in June 1919.
Stockholders of record July 21 1919 were given the right
to subscribe to $660,750 of the new stock at $40
per share, bringing the
amount outstanding up
to $2,659,6o0.
V. 108. p. 2532; V. 109, p. 177.
•After providing for Federal excess profits and income taxes.
OFFICERS.—Pres., S. H. Kress, N. Y.—(V. 112, p. 378, 658,
1622.)
'
Gryp¬
hon Rubber A Tire Corp.,
1150,
*"
laid IT
al db
July,'
15%"in stock; In 1919, Jan., 3%; April/'3 %f May ,15% In stock;
3%;
Sept., 15% in stock; Oct., 3%; 1920, Jan., 3%; April, 3%; July, 3%;
Oct., 3%.
Jan. 1921 div. passed.
V. Ill, p. 2429.
REPORT.—For year ended Dec. 31 1920: Gross profit on sales, $391,068;
other income, $28,542; expenses, $506,960; interest, losses, &c.,
$230,355;
divs. (12%), $273,456; bal.. def., $591,161.
OFFICERS.—Pres., L. Walter Lissberger; V.-Pres.f Sydney Bernhelm;
Sec., Walter Lowenthal; Treas., Joel Jacobs.
Office, 18/7 Bway., N. Y.
—(V. Ill, p. 2429.)
B. B. & R. KNIGHT, INC.—Incorp. Sept. 1920 in Mass. as successor
B. & R. Knight, Inc., a Rhode Island corporation which had been
conducting business since 1848.
Products are combed yarns, print cloths,
wide sheetings and twills, both gray and bleached.
Operates 17 mills
to B.
located in Rhode Island and Massachusetts.
CAPITAL STOCK.—Common stock is all owned by the Consolidated
Textile Corp. through B. B. & Ri Knight Corp. of Del., a
holding company.
Pref. stock is entitled to receive $110 a share and accrued divs. in case of
voluntary liquidation and $100 a share and accrued divs. in case of invol¬
untary liquidation.
On or before Oct. 1 1923 and semi-annually thereafter
the Corp. is to pav to a sinking fund trustee an amount in cash or stock at
cost
plus accrued divs. equal to 1H % of the largest aggregate par amount of
pref. stock at any time issued, and to this fund shall be added a sum equal to
divs. on all pref. stock previously retired by sinking fund.
No future
mortgage and no bonds or notes having more than one year to run without
consent of
75% of pref. stock.
DIVS.—Initial div. of 2% on pref. stock was
paid Jan. 1 1921.
BONDS.—The 1st mtge. bonds are redeemable in whole or in
part at
par and int. plus a premium of 5% to Sept. 1 1921, and thereafter at a
premium of H % less each year or part thereof down to a premium of 1 %.
A sinking fund is provided beginning Dec. 1 1923, payable s. a.,
equal to 3%
per annum of the maximum amount of bonds at any time issued, plus an
amount equal to the interest which would have been payable on all bonds
previously retired by sinking fund.
Secured by a first mortgage on all real
estate, plants, machinery, Ac., which were acquired by the corporation.—
V. Ill, p. 2527.
(S.
S.)
KRESOE
CO.—ORGANIZATION.—In
March
1916
Incor-
pprated in Michigan to succeed, per plan V. 101, p. 1555, 1717. the S. 8.
Kresge Co. incorporated in Delaware April 1912 and operating (either
directly or through subsidiary corporations, all of whose stocks are owned)
189 retail 5.10 A 15-cent stores in Chicago, Detroit, St. Louis, Greater New
York. Philadelphia, Pittsburgh, Boston and other cities north of Washing¬
ton. D. O., and east of St. Joseph. Mo. V. 94, p. 1319; V. 104, p. 366.
LA
BELLE
IRON WORKS.—ORGANIZATION.—Incorp. In West
Virginia in 1875 (business founded In 1852) and manufactures pig iron, steel
slabs, billets, plates, sheets, tubes and other finished steel products.
Main
plant at Steubenville, O., 126 acres.
Also owns 590 acres of land on the
West Virginia side or the Ohio River, opposite Steubenville, on which a
by-product coke plant of 94 ovens was placed in operation.
The Wheeling Steel Corp. was incorp. In June 1920 for the purpose of
bringing about "identity or interest and unity In control while retaining the
separate organization or each corporation as it now exists." of the La Belle
Iron Works, Wheeling Steel A Iron Co. and Whitaker-Glessner Oo.
The
new corp. does not now
propose to own or operate any plants, but will for
the time being issue shares of Its capital stock in exchange for shares of
stock of the three operating companies above named.
For terms of ex¬
change, see V, 111, p. 302.
STOCK.—The $10,000,000 pref. stock was distributed In Oct. 1912 as a
on common stock.
V. 94, p. 1569 ,1768; V. 95, p. 1042.
Stock
see V. Ill, p. 299.
100% div.
ncrease,
DIVS. SINCE 1912— 1913.
On common
%
1914.
1915.
1
2
0
*16.
0
'17.
10
*18.
12
*19-'20
text
'21
See
On preferred, regular %
8
7
4
8.8
8
8
text
do
on accumulations
(all paid in 1916) 5
V103,p2082
From June 1917 to March 1919 paid l%and 2% extra on common, quar.
In June
_
extra;
l921,
BONDS.—Of the auth. $7,500,000 First A Ref. Mtge. bonds (now a first
lien), $3,500,000 have been issued, but in Dec. 1919 $1,000,000 of these
had been redeemed and canceled and
$79,000 had been repurchased
andwere held in treasury.
Sinking fund, beginning 1916, will retire at least
V. 101. p. 2075; V. 102, p. 607,
66 2-3% of new issue before maturity.
REPORT.—For year ending Dec. 31 1919 showed:
Calendar Years—
1919.
1918.
Total Income
$3,852,789
517,215
750,000
Depletion of minerals, &c
Depreciation
Reserve for contingencies, &c
Interest
on
Reserve for
bonds
war
taxes, &c
Dividends
Balance, surplus, for year
.
123,108
207,853
1,586.464
$668,149
1917.
$9,479,129 $14,198,404
549,320
420,282
950,000
750,000
137,179
90,908
126,951
145,654
4,330,262
5,189.302
1,983,080
1,983,080
$1,402,337
$5,618,678
Pres.. D. A. Burt: V.-P., H. D. Westfall, G. B. Lev an; Sec., W. B. Higgins; Treas., H. P. Beswlck.
Office, Wheeling, W. Va., and Steubenville,
O.—(V. Ill, p. 194, 299; V. 112, p. 2197.)
[Vol. 112.
INDUSTRIAL STOCKS AND BONDS
192
mr
'
Date
Lackawanna Steel—Common stock $60,000,000 authorizedFirst mortgage gold redeemable (text)
Fxc*
1st Con M $35,000,000 g red 105 aft Moh '15 conv. Ce.xo*
Lack Iron A Steel Co 1st M assumed in 1917 by Bethlehe
Ellsworth Coal Co 1st M $2,000,000 g $100,000 due yly UPi
Ellsworth coll pur mon • fd 5s guar (part due in 1927)—F.3
Oar trust due $62,000 s-a M A S 15 call (all only) 102—CP
Laclede Gas Light Co.—Common stock, $37,500,000 auth—
Preferred stock, 5% cum, $2,500,000——
Refunding and extension M $20,000,000 g Baand MStxxc*
1st M Coll A Ref g Ser A conv call
—.—J3Stxxxc*r*
Par
Amount
Rate
When
Last Dividend
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, Ac., see notes on page 6]
Value
Outstanding
%
Payable
and Maturity
$100 $35,108,500 6in 1920 Q-M 29
10.862.000
6 891.000
m Stee 1 Corp— which see
400,000
1902
1,000
1903
1910
100
"1:566
620,000
100
100
1.000
100 Ac
1904
1919
100
First and collateral trust mortgage gold..——
Inoome mortgage $3,000,000 gold
Bonds. Ac., of Controlled Companies Held by Public
Alg Steel 1st & Ref M $30,000,000 g gu sf red 105—Usm.c*
Coal fit Coke 1st M hit gu sk fd 5c per ton
Algoma O A H Bay RylSee these cos. under T'RRs."
Algoma East Ry
/
$&£
1912
1911
Cannelton
x
1,000
500 Ac
1904
1904
—
LACKAWANNA
STEEL CO.—ORGANIZATION .--Incorporated
In
on Feb. 151902.
Tbeproperties (see V. 77. p. 34; V. 74, p. 1142
p. 161. 437; V. 80, p. 1916; V. 81, p. 1668; V. 84. p. 393. 510. 689
application to list, V. 90. p. 985) are: (1) Plant situated at Lackawanna,
near Buffalo, N. Y., to manufacture plate and all classes of structural steel
and other materials, in addition to steel rails and billets, having at last ad¬
vices a capacity of 1.584.00G tons of finished product p. a.; (2) ore properties
In Minnesota, Michigan, vvisnonsln and New York, stated to have 60,000,000
tons of ore in sight; (3) 21,700 aores of bituminous coal lands (coal rlgni*
and in fee) in Pennsylvania.
Lebanon property was sold to Bethlehem
Steel Co. on Feb. 11917, the Lackawanna Iron fit Steel Co. bonds, $1,775,■000 being assumed by that company.
V. 106, p. 1139, 1140, 1691.
In
1906 acquired Ellsworth Coal Co., owning over 16,000 acres of coal land.
V. 83. p. 1593; V. 84, p. 269,393; V. 100, p. 815.
Government price fixing
in 1917, see V. 105, p. 1313; V. 106. p. 1138.
V. 76,
STOCK.—Of
of
$60,000,000
the
common
stock
authorized,
$15.-
000,000 is reserved to retire convertible bonds.
V. 76, p. 869.
Pre¬
ferred stock authorized in Feb. 1910 (for conversion of debentures since
redeemed), $10,000,000; none outstanding.
DIVIDENDS.—/1913.
1918.
1917.
1916.
1914-15.
'19.
'20. '21.
(%) —\ 1%
None
6%
12%
8H% 6%
6% text
1918, March, 1H%; June, 1H% Mid 2M% extra; Sept., 1918 to
Mar. 1921, each 1 H% (no extra).
V. 107. p.2193; V. 106, p. 2233;
Y. 105, p. 2098.
common
In
BONDS.—The 1st mtge. 5s of 1903were convertible into stock, $ for $•
at holder's option up to April 1 1915.
V. 77, p. 34; V. 76, p. 437.
The stockholders on Feb. 15 1910 authorized, per plan in V. 90. p. 240
985, a mortgage to secure $35,000,000 40-year first oonsol. mtge. gold
bonds, of which $15,000,000 were reserved to take up the first mtge. bond*
due 1923 and $10,000,000 for additional property
and Improvements
The $10,000,000 first consol. M. series A bonds Issued were made convertible
Into common stock at par between Mar. 1 1912 and Mar. 1 1922.
The Ellsworth Collieries Oo. $6,000,000 s. f. purchase money bonds are
guar.,prln. and Int., by the Lackawanna Steel Co.; outstanding, $2,525,000. vT 84.P. 393, 510; V. 104. p. If
Car trust of 1916 cover 1,400
~
steel cars. v. 102, p. 889.
EARNINGS.—For 3 months ending March 31:
3 Mos. end. Mar. 31-
aNet earnings, all propon bonds &
1919.
1918.
$667,695
$336,911
$1,997,991
$3,040,522
222,225
37,812
234,579
40,100
230,400
41,925
233,156
44,262
53,561
345,361
53,779
458,172
45,906
472,651
87,904
397,917
$8,735 def$449,720
other obligations—
Lackawanna Steel Co.
Subsidiary companies.
Appropriations for—
Extmg. of min. invest.
Deprec'n and renewals
Balance,
Sales
profit
$1,207,109
$2,277,282
—_
1917.
$70,587,306 $34,967,802 $83,438,135 $77,446,241
al0,674,345
3,060,663
12,468,904
19,793,917
-
Net earnings
Bond, Ac., interest—
Lackawanna Steel Co.
Subsidiary companiesExting. mines, Ac
965,153
157,067
300,008
Depreciation, &c_2,127,421
896,170
164,367
212,568
1,430,696
Balance, profit
$7,124,696
Inventory adjustment-2,830,321
923,559
173,600
255,549
2,767,843
1,285,357
191,379
412,603
1,789,059
$356,863
$8,348,355 $16,106,976
$356,863
Net profits
$4,294,375
a After provision for Federal taxes.
$8,348,355 $16,106,976
OFFICERS.—Chairman, Moses Taylor; Pres., George F. Downs; vITP
& Gen. Mgr., Thos. H. Mathias;
V.-P., Henry H. Barbour, Arthur J.
Singer; Treas., J. P. Higginson; Sec., F. F. Graham; Comp., W. H. Dupka.
Principal office and works, Lackawanna, N. Y. N. Y. office. 2 Rector St.
DIRECTORS.—J. J. Albright, Geo. F. Downs, B. S. Guinness, Lewis
Iselin, Geo. W. Burleigh, Ogden L. Mills, John J. Mitchell, Beekman
Winthrop, Moses Taylor, Cornelius Vanderbilt, Percy R. Pyne 2d. Edwin
S. Mars ton, H. G. Dalton, John H. Hammond, O, G. Jennings.—(V. 112,
P. 658, 1019, 1041, 1622.) 4* «4| 4*1
ftgl
LACLEDE OAS LIGHT CO.—ORGANIZATION.—Incorp. in 1857
and in
1889(secured control of all the other gas companies in St. Louis
Operates under perpetual franchises.
In June 1909 the $7,400,000 common
by the North American Co. was sold to a syndicate.
V. 88, p
1563; V. 76, p. 545, 922; V. 78, p. 1273; V. 80, p. 1000.
Price of gas was
reduced in July 1916 to 75c. per 1,000 cu. ft. for the
primary quantity; 55c.
per 1,000 cu. ft. for the secondary quantity and 45c. per 1,000 cu. ft. for
all m excess of these amounts.
In Oct, 1918 sought permission for 25%
increase in rates.
After a period of about a year, was authorized to charge,
for a period of 13 months from
July 11919, an increase in rates equivalent
to two-thirds of the increase
originally applied for.
In Aug. 1920 same rate
was extended to Nov. 1
1920, again extended to Feb. 1 1921, again extended
to April 1 1921, and later to June
1 1921.
On April 8 1921 rate was in¬
creased for 13 months to $1 05, 95 cents and
85 cents net per 1,000 cu. ft.
stock held
U2'
185,
oven
M
N May 1 '22 to '25 Pitts Union Trust Co
J Jan 1 1922 A 27 Farmers' L A Tr Co, N Y
fic
J
A
M & S15
10.700,000 See text
2,500,000 5% 1919 J"
A"D
10.000 000
5 g
A
A
16.000,000
7 g
F A
40.000,000
5.278.000
A
Sept'2l-Mar*26 Commercial Tr Oo. Phila
Mchl5
19. 1H (Bankers Trust Oo, New
Dec 15'20
O Apr
• Jan
York, and First Nat.
2H 1
1
1 1934
11929
Bank
St
Loub
New York and St Louis
!
*2,773.000
°
15,622,406
286.000
ig
*
Bank of Mont, N Y, Sec
5% paid Oct 1 1920
June 1 1944
i°^
Oct
00
1 1924
8ee text
Apr 1 1962
July 11950
Fidelity Trust Oo, Phila
Y-!°7. P. 15S2; V. 103,
619; V 108, p. 876.
plants.
V. 102, p. 797.
&c.—The
(OA11
p. 324, 2433; V. 92, p. 265; V. 107,
In 1914-15 built 56-oven by-product coke
shareholders
voted
Sept.
10
1918
to
authorize^
£*J?he [authorized] common stock from 175.000 shares of
^^n(?ing) 0° #37,500,000 (the 5% cum. pref.
remaining unchanged at 25,000 shares).
(2.) An increase in the authorized
bonded debt from $20,000,000 to an amount not in excess of
the capital
stock, as from time to time authorized, by the issue of bonds secured by
a new mortgage.
V. 107, p. 295,1104.
pJVS.—
f'00-*04. *05-;08. '09. '10.'11. '12-'16. '17. '18. 1919
Com. (%)
Jfixtra
—
....
U
—
y
ly. 5 y'ly.
L.—
6
-
Dividend payable June 15 1919
was
6H
7
7 y'ly.
7
7
lOstk.
10
deferred.
v7To~8, p. 2243*.
BONO**.—See amplication to Stock Exchange in V 49. p.
657.
Refunding and Extension 5s of 1904 ($20,000,000 auth. issue).
mv;f:
ht.% 6w;:v: 11: fc
v-80- *470: v'83-"-11S9:
1H
no
time
.
REPORT.—For cal. year 1920, in V. 112, p. 1280, showed:
.
Year—
Gross.
Net.
Interest.
Pref. Die Com.Div.Bal., Sur.
1920
.$6,533,607 $1,942,366 $1,680,339 $125,000
5,531,7i0
1,875,097
1.608.373
125.000
4,946,611
1,854,498 ,1,244,381
125,000
1919
1918
*
#137.027
187.250
*45,526
749,000 *263,883
------
-
Deficit.
'
OFFICERS.—Pres., O. L. Holman; 1st V.-P. & Gen. Mgr., G. B. Evans;
2d V.-P. & Sec., W. H. Whitton; Treas., W. S. Dodd.—(V. 112, p. 1280.)
SUPERI0R CORPOR ATION (THE) .—ORGANIZATION.—Inon Mav 19 1904 as •uceeswor. oer plan V
77. o. 1296. and
1784, 909, of Oonsol. Lake Superior Co.
Controls Algoma Steel
Corp., Sault Ste. Marie, Canada, and affiliated companies.
V. 107, p.
902.
Compare V. 103, p. 2075; V. 77. p. 771.
The plants include: Open-hearth steel works and rail mill; 4 blast furnaces
of about 950 tons daily capacity; 8 50-ton open-hearth furnaces and 3 75-ton
furnaces with a 300-ton mixer and a duplex plant consisting of one 150-ton
mixer, all
representing a capacity or 50.000 tons ingots per month;
Magpie iron ore mine; 579 miles of railroad; freight steamships; machine
shops, forge, iron and brass foundry, car building shops, water-works and
electric-light plant.
See also V. 79. p. 1026; V. 81, p 977; V. 83. p. 1096;
V. 88, p. 1004; V. 90, p. 1105; V. 93. p. 1195; V. 99. p. 1134.
Also owns
6,000 acres of W. Va. coal lands acquired in 1910.
V. 91, p. 868. Has
LAKE
V. 78, p.
exceed the auth. Issue of capital
stock
as
160
coke
ovens.
In Jan.
.
»•»•
.from time
.
1909 the Fleming syndicate acquired control and undertook ex¬
rSeeV 87, p. 938: V 88. n. 234. 1065: V 89. p. 916)
tensile Improvements
Lake Superior Coal Co. and Cannelton
coal properties in West Va.
V. Ill, p. 1079.
V. 96,
p.
Coal A Coke Oo. own extensive
1493; V. 101, p. 921; V. 109, p. 1075;
BONDS.—As to 1st mortgage and coll. trust 5s of 1904 (reduced to $7,"
000,000, and further reduced to $5,278,000). see Consolidated Lake Supe¬
rior Co.. V. 77 p. 771, 1290; V. 78. p. 1784. 1900: V. 88 p 1065; V. 90, P«
1105; V. 92, p. 529, and below.
First dividend on Incomes, 5%, Oct. 1
1906; 1907 to 1W09. none; 1910, 2H%; 1911. 2H%; 1912 and 1913, 5%;
1914, 1915 to 1916, none: 1917 to 1920 incl.. 5% yearly in October.
Algoma Steel Corporation's $15,000,000 common and $10,000,000 7%
cumulative preferred stock is all owned by the Lake Superior Corporation,
which guarantees as to prin. and int. the First A Ref. M. 5s of 1912,
$30,000,000 authorized.
V. 103, p. 2076.
The Steel Corporation issued
its purchase money bonds for $5,800,000 to secure L. S. Corp. 1st 5s.
These
purchase money bonds rank prior to 1st fic Ref. bonds as to certain of the
groperties; $5,800,000 are reserved to y'ly onthe Lake Sup. Corp.p.1st 5s.
iallable at 105.
Cum. sk. fd. of 1% retire
bonds out.
V. 94,
1253.
1387.1669,1697; V. 95,
p.
p.
665.
421,1747; V. 97,
\
p.
1118; V. 101. p. 920; V. 104,
The Algoma Steel Corporation in yr. 1917-18
paid to Lake Superior Corp.
7% dividend ($700,000) on pref. stock for year ended June 30 1914; in year
1918-19 paid it $1,050,000 for 18 mos. to Dec. 31 1915; and in 1919-20
paid it $175,000 for quarter ended Mar. 31 1916.
See report V. Ill, p.
1080.
For Algoma Central fic Hudson Bay Ry. and Algoma Eastern Ry., see
RR. Dept. and V. 105, p. 994.
For proposed settlement as to guarantee,
V. 110, p. 1752; V. 109, p. 891, 1075. 1984.
Status as to guarantee in
1920, see report of Algoma Central fic Hudson Bay Ry. in V. 112
157. Cannelton Coal fic Coke, V. 93, p. 804.
see
Dec.
p.
REPORT.- —For year ending June 30 1920 in V. Ill, p. 1079:
Int.ADivs.
Other
General IstMtge.Inl. {5%)on Balance,
.
Earnings
L. 8.Corp.
Sub. Cos.
1919-20
$470,000
1918-19
1,344,000
1917-18
995,000
330,000
1916-17
Exp.. Ac Bond int. Inc.Bas. Sur. of Def.
$85,389$122,582 $263,883 $138,650 sur. $30,274
49,758
75,573
264,700
150,000xsur. 903,484
53,759
81,785
264,700
150,000 sur. 552,276
123,834
42,391
367,428
150,000 def.
5,986
Income.
y Earns. Net Earns.
Int., Ac.,
Sk. Fd., Deprec'n, Div.&c.Pd. Balance,
Sub.Cos.
Sub.Cos.
Ac.
Ac.. Res. L.S.Corp Sur. or Def.
1919-20.$3,722,153 $1,315,523
$1,024,965 $180.000sur.$1112767
1918-19- 5.441,574
1,235.710 $324,464
2.125.000 1054000 sur. 702,400
1917-18- 6,551,495
1,315.041 278,187
4,008.912 705.000 sur. 244,355
1916-17- 5,323,005
1,419.071 731.521 2,743,155 1
sur. 429,257
x Deduct loss of $20,000 on St. Mary's Traction Co. and $500,000 re¬
served against further depredation in values and loss on other investments.
Add balance from previous year $57,621; balance carried forward (subject
to taxes), $441,107.
y Excluding Algoma Central fic Hudson Bay Ry.
Sub.Cos.
DIRECTORS.—W. H.
See
The First Mtge. Collateral fit Refunding bonds of 1919
(V. 108, p. 273)
oat at
fixed ; they are issuable in series with such maturities. Interest rates and
redemption and conversion rights as may be determined for each series.
The $5,000,000 Series A 10-year 7% bonds sold in Jan. 1919 to provide
for retirement of same amount of debentures due Feb. 1 1919 are callable
at any time at 102 and Int., prior to Jan. 1 1922, and at 101 and int. there¬
after, and are convertible at their face values on or after May 1 1919, at
holder's option, until 15 days prior to maturity or redemption date, into
either (a) common stock, par for par, interest and dividends, if any, to be
adjusted; or (b) into Series "B" 30-year 5% bonds Issued under the same
mortgage,.the latter at a 5H% income basis (equal to a price of 92.79% on
April 30 1920 and 93.98% Dec. 15 1928), any difference due on the con¬
version to be paid by the company in cash.
In March 1919 a further $11,000,000 Series A, in all respects similar to
the above were sold (V. 108, p. 1278), chiefly to replace the $10,000,000 1st
M. bonds, due" May 1 1919. whereupon the $10,000,000 Ref. fie Exten.
M. bonds of 1904, reserved to retire the latter, will, as part of a
then
($20,000,000) first mtge. issue covering the entire property, be pledged at
part security for the new bonds.
V. 108, p. 977.
Additional amounts of tbe new bonds may be Issued as follows: (1) to
refund a like amount of Refunding fic Extension Mtge. bonds, due April 1
1934, $10,000,000; (2) for general corporate purposes, $3,000,000; (3) for
permanent Improvements, «c., or new property for not exceeding 80% of
cash cost, provided net earnings are not less than 1 % times the annual
Interest charge on all bonds including those applied for; or (4) instead
the company may, at its option, issue bonds at 75% of cost when net earn¬
ings are not less than 1 A times interest charges.
.
REPORT.—Year 1920, in V. 112, p. 1019, 1041, showed:
1920.
1919.
1918.
p.
Farmers' L A Tr Co, N Y
Central Union Tr Co, N Y
O Apr
A
ooroorated in N, J.
1920
1921.
Deduct—Int.
«*
11923
5*'
,
Mar 31 .'21, IH Checks mailed
MAS Mob 11950
A
$227,000 additiona in treasury.
New York
On
Is
2,525.000
1,000
1907
1916
II
Ac
Places Where Interest and
Dividends are Payable
Cunningham
(President), Philadelphia;
Her¬
bert Coppeil (V.-Ps.), N. Y.; Fred'k McOwen, Phila.; R. Home Smith,
Toronto; J. 8. Dale, N. Y.; Alex. Taylor, 8ec. (office, 1428 Traders' Bank
Bldg., Toronto); Harvey I. Underbill, South Orange, N. J.; Sidney Mason
and Horace C. Coleman. Phila.; Thomas D:
Wood, Philadelphia, Pa.;
Thomas
Gibson, Toronto: James Hawson, A. A. Pinkney, W. C. Franz,
Office, Sault Ste. Marie, Ont.—(V. 112, p. 167,75o«)
Sault Ste. Marie, Out.
MAX, 1921.]
INDUSTRIAL
STOCKS AND BONDS
193
»
MISCELLANEOUS COMPANIES
[For abbreviations,
&c., see notes
Date
on page
Par
Amount
Rate
When
Last
Dividend
Bon as
6]
Value
Outstanding
%
Pat/able
and
Maturity
Lake Torpedo Boat Co—Common auth $2,800.000
1st pref 7% cum auth $1,000,000 full voting power (p&d)
2d pref 7% non-cum auth $1.200,000
Lanston Monotype Machine Co—Stock $10,000,000 auth_
Lee Rubber Sc. Tire Corp—Stock auth 150,000 shares (text)
Lehigh Coal & Navigation—Stock authorized $29,243,400-General mortgage gold (closed)
FP.xc&r
Fund and Imp mtge.g (Ser A $2,744,000) (closed)__P!P.xc
Collat trust power bonds $3,000,000red 102)4
GuP.xc*
Consol M $40,000,000,g, s f red text
PeP.kc*r»
Unsecured serial notes due $100,000 yearly
Lehigh Valley Coal Sales Co—Stock auth $10,000,000
Lehigh & Wilkes-BarTe Coal—Stock $10,000,000 authorized.
Consol M gold maturing $2,500,000 every 5 years__PeP.o*
10
1884
1916
1,000
1,000
1,000
1,000 &c
20.000
1910
1,000
1898
1914
50
50
voting. $21,496,400
Preferred stock (a & d) 7% cumulative $22,759.900
Gold bonds (not mortgage) $15,507,800
auth—G.xo*&r*
do
do
do
do
15.059,600 auth
G.xc*&r*
Three-year Gold Notes $20,000,000 callable (text)
G.c*
y
100
«.
100
50
50
1911
1911
1918
&o
Ac
1,000
Capacity 24 boats yearly.
Bridgeport. Conn.
DIVIDENDS.—1st pref.,
V. 101, p. 850.
1914 and 1915, 7%; 1916. Jan. 2.
7%."~"ln
Feb. 1916 changed 1st pref. payments from annually to semi-annually.
June 1916 to June 1917, 3)4% semi-annually; Dec. 1917, none
paid; since
to May
1921,
none.
DIRECTORS.—Herbert S. Miller (Pres.), Simon Lake (V.-P.), C. E.
Adams (Treas.);C. E.Adams (Sec.).
Office, Bridgeport.—(V. 110, p. 974.
O—M
May 31 *21 1M Checks mailed
Text
June 1
'21 50c New York
Q—F 28 May 31 '21 2% Office, Philadelphia
2u Jk Sa May 1 1924 •
do
do
r
&
J July 1 1948
do
do
4)4 g
4 g
J
ills J
&
D Deo
&
J Jan
J
&
1 1921
do
do
1 1954
New York & Phila
J To July 1 1922 Office,
Philadelphia. Pa
See
text
Q—J
Apr 1 1921 4% Checks mailed
13 in '19 J
&
D
See text
Checks mailed
4 g
J
&
D June 192.5-35
New York Trust
4
Co, N Y
3% Checks from Cent Tr Co
3%
7 In 1920
Q—J
do
Apr 1 1921 IVt
do
A
&
O Oct
1 1944
Guaranty Trust Co, N Y
F
&
A Aug 1 1951
do
•
do
12
See
in '20
text
Q—M
June 1
1921
June 1 1921
Is
J
6 g
&
D Dec
1 1921
New York
LANSTON MONOi VPE MACHINE CO.—ORGANIZATION .—Incor¬
porated In Virginia in 1892.
Manufactures for sale or rental automatic ma¬
for composing
and casting tvpe.
Controls
Lanston
Monotvpe
Corporation of London. V. 78, p. 2440; V. 84, p. 994.
In 1917-18 had
munition contracts.
V. 106, p. 2226; V. 107, p. 1484.
English contract
for casting machines, keyboards &c., totalling $750,000 in V. 99,
p. 171.
000 Series B issued in 1917 and taken Into treasury as reimbursement for
improvements made in years 1914, 1915 and 1916.
Of the bonds un¬
issued, sufficient were reserved to retire $7,874,000 prior bonds matur¬
ing after July 1 1914 and the balance under restrictions for future
purposes.
Redeemable on any July 1 at 102)4 and Interest by sinking
fund of 5 cents per ton of pea and larger coal mined and
shipped.
Callable
at 102)4 and int. until July 1 1921; thereafter at 105.
To Dec. 1920, $862,000 had been retired by sinking and other funds, making $14,888,000
out,
and $5,715,000 in treasury pledged or unpledged, being $2,325,000 Series
A and $3,390,000 Series B.
V. 103, p. 324; V. 104, p. 1149, 2456; V. 107.
p. 506; V. 109. p. 177.
ANNUAL REPORT.—For 1920, in V. 112. p. 750, showed:
1920.
1919.
chines
Stockholders
Oct.
on
28
1909 authorized
$5,000,000 to $6,000,000 and In
LATE
f'09.
'10-T3.
'14.
par
an
increase
in
the stock from
value from $20 to $100. V.
1915.
1916.
90.
d.
11068
1917 to May 1921.
DIVS.—%\
1H
6 yly
3
0
4)4
6 yly (1H Q-F)— see below
1)4% May 31 1918 was paid in 6% div. ctfs. due May 31
1919, which were paid at maturity.
See V. 106, p. 2125; V. 109, p. 121,
The div. of
REPORT.—For year ending Feb. 28 1921:
1920-21.
1919-20.
Net prof., aft.
I
1920-21.
1919-20.
(Dividends (6%)$360,000
$360,000
deprec'n—$1,438,845 $1,104.529|Bal.,
surplus..$744,529 $1,078,845
Pres., J. Maury Dove; Sec., W. Arthur Sellman; Treas., Joel G. Clemmer.
Office and factory, 24th and Locust Sts., Phila.—(V. 112, p. 567, 2089.)
LEE RUBBER & TIRE CORP.—ORGANIZATION.—Incorporated
in N. Y.
on Dec. 14 1915 to take over the assets of the Lee Tire & Rubber
of Conshochten, Pa.
Product consists of cord, puncture-proof and
fabric tires.
The company has authorized 150,000 shares of stock
(no
Co.
par
Payable
Excluding $6,432,000 in treasury
LAKE TORPEDO BOAT CO.—ORGANIZATION.—Incorp. Jan. 30
1913 in Maine and builds submarines under the Lake patents, with yards
at
3,906,000
3,879.000
2,333,000
14,888,000
160,000
9.801,435
9,210,000
y5.564.000
21,496,400
10.733.200
22.514.000
14.401.500
15,059,600
20,000,000
100
non
are
June30'17,3J4 % Bridgeport, Conn
1,200,000
100
6,000,000 6 In 1920
None
150,000shrs See
text
50
29,243,400 8 In 1920
Liggett & Myers Co—Common stock $21,496,400
Common stock Class B
628.920 7 In 1916
10
,1911
Where Interest and
Dividends
$2,199,000
$10
—
■
Places
value), all of which is outstanding.
The stockholders
of
record,
Nov. 10 1919, were offered the right to subscribe to 40,000 shares up
to Nov. 28 19l9 at $33 per share.
An additional 10,000 shares were sold
through a trustee to officers and employees of the company at $33 per share.
Has no bonds or Pref. stock.
Common stock listed on N. Y. Stock Ex¬
change.
V. 101, p. 1977; V. 103, p. 1892.
of 50c. and 25c. extra,
none
In 1916 paid three dividends
thereafter until June 1 1920, when 50c. was paid
Sept, 1 1920 to June 1 1921 paid 50 cents
p. 1375.
Price reduction.
quar,
V. Ill,
Calendar Years—
Coal production (tons)
Gross earnings
Net
Interest
expenses
funded debt
Dividends (8%)—
Balance, surplus
$1,711,138
$540,967
$471,417
Pres., S. D. Warriner; V.-P., H. F. Baker; Sec. & Treas., H. H. Pease.
Office, 437 Chestnut St., Phila.—(V. 112, p. 167, 475, 750, 938, 1030.)
LEHIGH
VALLEY
$471,806
$200,348
COAL
SALES
CO.—Incorporated
in
New
Jersey
Jan. 22 1912.
chased
or
Purchases from the Lehigh Valley Coal Co. coal mined, pur¬
otherwise acquired by the Leh. Val. Coal Co. and affiliated com¬
panies, and ships and markets the
same.
The lower Federal Court
21 1914 dismissed the Govt, suit against the company and the
on
Dec.
Lehigh Valley
RR., &c., for alleged violation or the anti-trust law and the commodities
clause of the Inter-State Commerce law.
V. 99, p. 1914; V. 98, p. 916.
This decision was reversed on Dec. 6 1920 by the U. S. Supreme Court,
which ordered
a separation of the Lehigh Valley RR. from its coal proper¬
ties.
Compare V. Ill, p. 2292.
See also Lehigh Valley RR.
Stock auth.,
$10,000,000 (par $50), of which $9,801,435 has been issued.
25% stock
allotment was issued Jan. 17 1914 and a 30% stock allotment on July 14
1917, being paid for out of special dividends declared for same amounts.
V. 104, p. 2238; V. 94, p. 123, 282; V. 97, p. 1429.
DIVS. (%)—
1913.
10
1914.
10
Extra
(see above)
do Liberty L. bonds.
From July 1917 to
1915.
10
1917.
13
30
1916.
10
25
__
__
16
'20.
'2U
16
see
text
__
10
__
Apr. 1921
'19.
1918.
16
5
fg (4%) quar. (16% p. a.)
OFFICERS.—Pres.. Geo. N. Wilson: V.-P. & Gen. Sales Agt., W. R.
Evans; Sec. & Treas., W. J. Burton.—(V. 108, p. 687, 2128, 2246; V. Ill,
2330.)
p.
$101,633
on
Miscelianeous
Regular
REPORT.—For calendar year 1920, In V. 112, p. 1019,' 1039, showed:
Calendar Years—
1920.
1919.
1918.
1917.
Net sales
$6,705,929
$5,583,993
$4,609,924
$4,073,895
Operating profit
417,091
584,045
314,136
61,688
Deduction (net)..
90,453
112.239
113,788
39,100
Dividends
225,000
Balance, surplus
earnings
General taxes
General, &c.,
1918.
4,125,729
4,108,968
5,005,277
$26,888,330 $24,886,908 $25,837,545
6,169,508
4,910.236
5,236,331
742,226
651,968
963,750
211,293
201,200
273,523
1,136,557
1,158,355
1,171,177
34,378
23,830
22,792
2,333,916
2,333,916
2,333,672
$22,588
LEHIGH & WILKES-BARRE COAL CO.—ORGANIZATION.—Org. ill
DIRECTORS (and Officers).—John J. Watson Jr. (Pres.), Albert AGarthwaite (V.-P. & Treas.). H. C. Coleman, Joseph Wayne Jr., Stephen
B. Fleming, Samuel H. Miller, James A. Favne, Walter R. Herrick, J. Carl
De La Cour, John M. Dettra, Horace C. Jones.
The Secretary is
Pennsylvania Jan. 1874.
Owns In fee and leases property located in
Carbon. Luzerne and Schuylkill counties. Pa.
Stock authorized, $10,000.000: issued, $9,210,000, of which Central RR. of N. J. on Dec. 31 1919
Henry
Hopkins, Jr.
N. Y. office, 61 Broadway.—(V. 112,
p.
475, 1019, 1039.)
LEHIGH COAL & NAVIGATION CO.—Owns canal from Coalport to
Easton, Pa., 46 miles, and leases Delaware Division Canal, 60 m. Also owns
LeMgh & SusqueUanna RR., Pbllllpsburg, N. J., to Union Junction, Pa.,
105 miles, with branches, 58 miles, and leases for 999 years Nesquehonlng
Valley RR., 17 miles; Treskow RR., 7 miles; other lines, 17 miles; total. 206
miles, of which 115 miles double track; but all these roads are leased for
999 years from 1871 to Central of N J. RR.. rental being 33 1-3% of gross
receipts, with
a
minimum rental of $1,414,400, and maximum of $2,043,000
owned
$8,489,400.
Tonnage mined for year 1919, 4,126,303 tons; pur¬
chased, 1,841 tons- sold, 4,053,048 tons.
The decision of TJ. S. Dist. Court
in Oct. 1915 ordering Central RR. of New Jersey to dispose of its holdings
was appealed.
V. 103, p. 1215; V. 105, p. 2460.
The U. S. Supreme Court in April 1920 sustained most of the Govern¬
ment's charges.
See Central RR. of N. J. as to plan for disposal of holdings.
BONDS.—Of the^consol. mtge. serial gold 4s ($20,000,000 auth. Issue),
$2,500,000 mature every 5 years beginning June 1 1915; amount of bonds
an additional $6,432,000 purchased and held
In treasury.
outstanding, $5,564,000, with
plus7% on improvements made since Dec. 311882. Delaware Division Canal
leased for 99
from 1866.
In 1904 majority of capital stock of Lehlgb &
acquired.
V 78. d 4785: V. 79. o 2646: V. 97 n
668, 1587; V. 100, p. 731.
Allentown Terminal RR. 1st M. were extended
from July 1 1919 to July 1 1929 at 6% and company's guarantee cancelled
as of July 1 1919.
V. 108, p. 2634.
As to decision in Oct. 1916 in anti-trust suit by U. S. Dist. Court (sub¬
ject to appeal), see V. 101, p. 1473).
U. 8. Supreme Court decision V.
110, p. 1816.
Rebate suit March 1916 appealed in April 1916 before the
U. 8. Circuit Court.
V. 102. p. 1063, 1350, 1440.
In 1917 the company sold Its stock interest in the Lehigh Nav. Electric
Co., owning a large power plant 10 miles west of Mauch Chunk. Pa., and
obtaining Its coal supply from the co.'s mines, to the Lehigh Power Securities
Corp, for $1,500,000 cash and 61,000 shares of the last-named company's
305,000 shares of capital stock (V. 105, p. 498), 50-year contracts being
made to furnish coal for the plant and to receive the electricity needed to
operate the mines.
V. 96, p. 1367: V. 100. p. 645, 731.
years
New England
RR.
was
8TOCK.—Shareholders of record Oct. 31 1917
at
for $2,655,750 10%
employees, V. 112, p. 938.
par
DIVS.—1900.
Per cent... 5)4
Also
15%
in
1901.
6
of
1902.
new
stock.
V.
were
105,
allowed to subscribe
p.
1713.
Stock for
\
1903.
6
6
scrip Marcn I 1910.
1904.
7
V. 90.
1905-08.
1909.
1910-May'21
8yearly
9 8 yearly(2Q-F28)
55; V. 92, p. 265.
p.
BONDS.—Gen. mtge. of 1884 covered 7,460 acres coal land, 48 miles canal
miles railroad.
For mtge. of 1898, see V. 67. p. 125; V. 70. n 428,
V. 81. p. 720; V 84, p. 106.
With Central RR. of
J. guar. $1,062,029
Lehigh & Hudson River Ry. gen. 5s. prin. and int.
V. 67, p. 788.
The coll. trust 4)4% power bonds, dated Dec. 1 1911, are secured by
deposit of $1,000,000 Lenlgh Coal & Nav. Co. consol. 4)4s and $3,000 or*
Lehigh Nav. El. Co. series A 1st gold 6s.
V. 95, p. 1671; V. 98, p. 685.
$667,000 in treasury Dec. 31 1920.
Lehigh Navigation Electric Co. 1st Ser B bonds ($866,000 outstanding )are
guar, as to int. payments by Lehigh Coal & Nav. Co. this interest being
and 161
Jayable at the following annual rates: July per annum.Jan. 1918, 4%
uly 1918 and Jan. 1919, 4)4 %; thereafter, 5% 1917 and
The mortgage
has been closed, the Lehigh Coal & Nav. Co. retaining the $3,000,000 series
A bonds, but giving an
option on them till 1921 to Lehigh Power Securities
Co., which also indemnifies co. in its guarantee of interest on Series B bonds
above. V. 105. p. 720; V. 99. p. 1677, 1532; V. 101. p. 697.
The Consol. mtge. 4)4s ($40,000,000 auth. issue) are secured by about
12,734 acres of anthracite lands in Carbon and Schuylkill counties. Pa., and
canal and railroad
properties, and all except 100 shares of Lehigh & New
England RR. stock and stocks and bonds of other affiliated companies.
Of
the $18,000,000 Spries A, $14,000,000 were sold to retire $10,054,333 prior
lien bonds and secured gold notes outstanding,
and for general purposes,
and $4,000,000 held in treasury or pledged as collateral for bonds.
$3,390.-
D1VIDEND8.—Dividends of 6)4% have been paid each J. & D. from
On Mar. 5 1921 paid a cash div. of 150%.
1909 to Dec. 1920, both incl.
V. 112, p.1030.
REPORT,—For cal,
deprec, and depletion,
1919: Gross, $23,175,763' net,
$988,940*'taxes (incl. Income tax),
year
$9,064,168
$2,931,780*
Interest, $323,476* net Income, $4,819,960* dividends, $1,197,300* adjust¬
ments, $107,310; surplus, $3,729,970.
V. 112,
Pres.. Charles F. Huber: "hj. & Treas.,
F
p. 368.
T
Dlckerson
_Offices,
Wilkes-Barre, Pa., and 143 Liberty St., N. Y.—(V. 112, p. 368, 750,1030.)
LIBBY, McNEILL & LIBBY.—(V. 112,
p.
.
1030, 1150, 1982.)
LIGGETT 6c MYERS CO—ORGANIZATION.—Incorporated in New
Jersey Nov. 24 1911 and under order of U. S. Circuit Court dated Nov. 10
1911 took
over
under
plan of disintegration of American Tobaooo Co. (V. 93.
1122-24), certain of Its plug, smoking, cigarette and little cigar faotorles.
1537; V. 94. p. 282; V. 100. p. 896: V. 107, p. 2012.
o
V. 93. p.
STOCK.—To provide additional working capital, shareholders of record
8ept. 10 1917 were allowed until Sept. 25 to subscribe and pay for at par
$7,376,100 7% cumulative pref. stock to the extent of one share for each
five shares held, whether common or pref.
V. 105, p. 611, 824. 1108.
War conditions having Increased the cost of all the company s materials
and supplies over 200%, making necessary bank loans, the shareholders
voted June 18
1918 to provide against any
unforeseen emergency by
authorizing an issue of $21,496,400 common stock B with the same right to
dividends and upon liquidation as the existing common stock.
Pres. pula
on May 16 1918 stated "Should it become necessary to issue niore stock
Qot mora than
25% of the amount authorized at this meeting will be issued
at least three months' notice will be given stockholders of
at one time and
the
payment date.
See V. 106, p. 2125, 2653.
In Dec. 1919 it was decided to issue$10,748,200
^
^
of the
Common "B
stock—one-half to be Issued as of Mar. 1 1920 and the other half as of June 1
1920—to holders of common stock of record Feb. 10 1920: each issue to be
subscribed for at par in the proportion of one share of com.
B
for each
four shares of common held.
v. 109, p. 2176; V. 110, p. 1876.
The stockholders on March 8 1920 approved a resolution setting aside
5% of the entire authorized common ana common "B" shares of the capital
stock (21,496 shares) to be sold at par to persons connected with the man¬
agement and operation of the company.
DIVIDENDS (%)—
On
Dec. 1912
common
Common,
108. p.
3%
extra
in
Apr.
(V.
1064)
1913 to 1919.
12%(3%Q.-M.)
4% extra ann.
1920 to June '21
12%(3%Q.-M.)
extra dividend
in April.
omitted,
initial div," of 3%
same
amount
on Class "B" common stock was paid June 1 1920.
paid quar. to June 1 1921.
BONDS.—The rights of the 7s'are prior to those of the 5s.
without making these bonds a prior claim.
See V. 94, p. 282.
No mortgage
MISCELLANEOUS COMPANIES
Date
Par
Amount
Rate
When
[For abbreviations, «fee., see notes on page 6]
Bonds
Value
Outstanding
%
Payable
Llggett's Internationa], Ltd, Inc
See text,
Loew's I nc—Stock authorized 4,000.000 shares
New-Broad Co 1st M R E serial g bds guar call 103—xxxx
Loft I nc—Stock 650,000 shares
Loose-Wiles Biscuit Co—1st pref (p & d) 7% cum red 120-.
Second pref (a & d) 7% cum $2,000,000 cony Into common
Lou. G a s&Elec. Co-—Pref .stock 6% cum
auth—G.xc*&r*
auth_>_G.xc*&r*
1911
red 115
$20,000,000 Three-Year
6%
1903
1918
1918
"ioo'&c
1920
gold notes were sold in
due
Increased
Nov. 1918 (V. 107,p. 2012) to reduce current indebtedness,
to
amount and cost or inventory.
They are callable at company's option
on
either as whole or in part, at 102 %
from the date fixed for
redemption; at 101H and int. for notes with one year or more but less than
two years to run; at 101 % and int. for notes with less than one year to run.
As long as any of the notes are outstanding the company will not (a) mort¬
gage or pledge any of Its real or personal property, except U.S. Government
any
interest date after 30 days' notice,
and int.
for notes with two years or more to run
obligations.
f v,. ,s.0;v
REPORT.—For cal. year 1920, in V. 112, p.
Net
Bond
Pref. Divs.
Profits.
Int.. Ac.
(7%)
1920
1919
1918
1917
Dividends.
$10,572,966 $2,975,163 $1,575,980 (12%)$3,384,513
8,917,233
2,988,196
1,575,980 (16%) 3,439.424
10,050,222
1,896.214
1,575,980 (16%) 3,439,424
9,184,783
1,821.064
1,201,634 (16%) 3.439,424
$2,637,310
913,633
3,138,604
2,722.662
LIQGETT'S INTERNATIONAL, LTD., INC.—Incorporated in Mass,
United Drug Co. the assets and business in
Great Britain, subject to their liabilities, and all of the outstanding stock
of the United Drug Co., Ltd., of Canada (except 223 shares of Pref.)'
which carries with it all of the outstanding capital stock of the Louis K.
Liggett Co,, Ltd,, of Canada (except 910 shares 1st Pref, stock and 2,106
shares 2d Pref. stock),
The United Drug Co. took in payment $2,000,000
at par of the Class B Common
stock of Liggett's International, Ltd.,
Inc., being all of the Class B Common issued.
Also acquired from the
United Drug Co. all the ordinary shares of the Boot's Pure Drug Co., Ltd.,
of England, at a cost of about $10,000,000,
(Compare V. Ill, p. 594.)
in 1920 and took over from the
Capital Stock.—Authorized, $35,000,000 8% Cum. Pref. stock (par $50),
Drug Co.' $10,000,000 Class A Common stock
dlvs. to be guar, by United
common.
(par $100), convertible into United Drug
1922 to 1927, callable at 150' $5,000,000 Class B Com.
stock
(par $100), having exclusive voting rights.
Issued as of Dec. 31 1920:
Pref., $12,838,200; Class A Common, $5,000,000; Class B Com., $2,000,000.
$7,500,000 pref. stock was offered by Kidder, Peabody A Co. and F. S.
Moseley A Co. at $50 per share.
Callable at $60 and divs. ($15,000,000
Eref. stockthe United Drug Co. were allowed to subscribo or pref.). Stockolders of is reserved for exchange for United Drug Co. first exchange some
of their stock for
See statement of United
pref. and common "A" stock.
Earnings.—For cal. year 1920. in V. 112, p. 1915, shows; Net sales, $32,335,908; net profit, $3,482,676; interest, $94,738; divs., $1,023,764; reserve
for Fed. and other taxes, $1,401,388; exch. loss on div. remittances, $30,450;
bal., sur., $932,327.
Officers,—Chairman, Louis K. Liggett' Pres., George M, Gales- V,-Pres.,
Allen and J. N. Staples Jr.* Treas., J. A. Galvln.—
(Y. 112, p. 1030,1404. 1615.)
Sir Jesse Boot, J. J.
LIMA LOCOMOTIVE WORKS, INC- (VA.).—(V. 112, p. 1030, 1288,
1872.)
LINDSAY LIGHT CO.. CHICAGO —(V. 112, p. 475, 750, 854.)
LOEW'S INCORPORATED—ORGANIZATION.—Incorp. in Dela¬
October 18 l9l9 to take over the business of Loew's Theatrical
Enterprises (incorp. under N. Y. laws on April 17 1911).
The business on
Aug. 1920 comprised 117 theatres, with a total seating capacity of 221,456,
of which 22 are under construction, 20 are not controlled by Loews, Inc.,
but the booking is conducted by Loew's, Inc.. on a commission basis,
Metro Film Corp., V. 110, p, 171,
Earnings for period from Sept. 1 1919
to June 6 1920: Gross income, $14,112,392' net earnings, $3,959,901, Fed.
taxes, $989,975* netprofits, $2,969,926.
CAPITAL STOCK.—Auth., 4,000,000 shares* outstanding, 1,060,780
shares of no par value,
Stockholders of record Aug. 9 1920 had the right
to subscribe to 288,670 additional shares of stock in the ratio of 1H shares
for each 3 shares held, at $25 for each 1H shares,
V. Ill, p. 498.
Initial
div. of 50c. per share paid Feb. 1 1920; then to May 1921 paid 50c. quar.
ware
prin.
and int., $1,800,000 1st Mtge. bonds of
V. 112, p. 1983.
New-Broad Co., Inc., a subsidiary.
DIRECTORS,—David
1978
r
Pledged
3.562.100
8 g
Am
BdAMtgCo.NYorCh
Checks mailed
do
New York
fnTsVCoTN
do
do
Louisville.
Ky
Fid A Col Tr Co. Loulsv
New
York
N Y and
Chicago
and
Chicago
STOCK.—Com. stock ($8,000,000) was In a voting trust
May 8 1917, but extended as to a majority until May 8 1922.
75%.
Voting trustees, Jacob L. Loose,
Joseph S. Loose. V. 104, p. 1903; V. 94, p. 1768.
19280
Y
do
Guaranty Trust Co, N Y
Guaranty Trust Co. N Y
MAS Jan 15 1923
A
J Jan 15 1923
J
terminate vested in
extending to
with right to
C. Lewis and
DIVIDENDS.—On first pref., 12*% quar. July 1912 to Apr." 1 1921.
On 2d pref., Aug. 1912 to Feb. 1915, 12*% quar.; none thereafter until
May 1920 when 5K% was paid on accumulated dividends; Nov. 1 1920
Feb. 1 1921 and May 1 1921 paid 12*% on accumulated dividends, bring¬
ing payments up to Aug. 11916.
Net
ls( Pref.
1st Pref.
2d Pref.
Balance,
Earnings. Sink. Fund. Dividends. Dividends.
Surplus.
*$945,793
$150,000
$320,229
$140,000 *$335,564
*2,136,569
325,481
*1,811,088
*1,053,222
344,050
709,172
*1,522,404
344,050
1,178,354
*
After providing for war taxes and also, in 1920, after depreciation and
shrinkage in inventory values.
Chairman, J. L. Loose; Pres., B. L. Hupp; Sec., R. W. Castle; Treas.,
John H. Wiles.
Office, Kansas City, Mo.—(V. 112, p. 167, 938, 1404.)
Year—
1920
(P.) LORILLARD CO.—ORGANIZATION.—Incorporated in New Jer¬
Nov. 24 1911 and, under order of U. S. Circuit Court dated Nov. 16
1911, took over, under plan of disintegration of American Tobacco Co.
sey
(V. 93,
p.
factories.
1122-24), certain of its plug, smoking, cigarette and little cigar
V. 106, p. 1348; V. 93, p. 1537; V. 94, p. 70. 126, 283.
STOCK.—Of the stock, $461,600 is issuable in exchange for the
Bernstein
(Treas.), C. E. Danforth (V.-P.),
W. C. Durant, Harvey D. Gibson, Marcus Loew (Pres.), David L. Loew
(V.-P.), James H. Perkins, Daniel E. Pomeroy, N. M. Schenck (V.-P.),
Lee Shubert.—(V. 112, p. 1030, 1622, 1983.)
$403,900
pref, stock of the former P. Lorillard Co. at the rate of $114 25 per $100
share of the old stock.
V. 94, p. 126.
The shareholders voted Mar. 12 1918 (V. 106, p. 825, 1131, 1235, 1348)
to increase the authorized common stock from $15,155,600 (all outstanding)
to $30,311,200, one-fifth of the new stock, or $3,031,120, being distributed
Apr. 101918asa20% stock div. to common stockholders in lieu of the usual
extra dividend in cash payable annually on Apr. 1 (in 1917 6% and in 1916
5%).
Common shareholders of record Aug. 9 1918 were permitted to
subscribe for 33 1-3% ($6,062,240) new common stock at par until Aug. 29,
thus Increasing the amount outstanding to $24,248,900.
See circular,
V. 107, p. 506. 610.
The stockholders on March 9 1920 authorized the sale of the unissued
common stock at not less than par as follows:
(a) 40,411 shares pro rata to
the com. stockholders and 20,211 shares to those connected now or hereafter
with the management and operation of the company.
Stockholders of record April 1 1920 had the right to subscribe to 40,411
shares at par in
held.
the proportion of one
Extra
Paid regularly
new
share
for
every
six shares,
f'13. '14. '15. '16. '17. * 18.
'19. *20.
(10
10
10
12
12
12
12
12
-I—
5
3
5
6 20 stk.
COMMON DIV.—
Regular
Drug Co. below.
BONDS.—Guarantees,
Payable
Calendar
Balance,
Survlus
OFFICERS.—Pres., O. O. Dula; V.-P. A Treas., T. T. Anderson;
V.-P's, W. W. Flowers, E. B. McDonald, O. W. Toms and H. A. Walker;
Sec., E. H. Thurston; Asst. Sec., W. S. Tisdel and E, O, Brenn.
Office,
4241 Folsom Ave., St. Louis; branch, 212 Fifth Ave., N. Y.—(Y. 112, p.
931, 1150.)
Co.
Where Interest ant
Dividends are
REPORT.—Report for cal. year 1920;
931, showed:
Common
-
trustees' certificates, non-voting
Places
o
8
1911
Louisv Q&E Co (of Ky)—Loulsv. L'ting Co 1st M gold.xe*
L. G. & Elec of Ky 1st & Ref M g call (see text) HQxxxc*
Do
Gen M bonds $5,628,000 pledged for Bond Sec notes.
Do
Bond secured notes $5,000,000 g call (see text)..N'xc*
NOTES.—The
Dividend
and Maturity
See text
$2 in '20
Q—F
May 1 1921 50c
A
&
$1,800,000
O'Apr 15 '22 to "31
8 g
Mar 31 '21 25c
text
Text
650,000 shs See
Q—J
4,579,700 7 in 1920
$100
Apr 1 1921 1%
100
text
2.0O0.000 See
Q—F
May 1 1921 1%
100
8,000,000
100
J
30,304,700 12"in '20
Apr" 1 192~1~ 3 %
J
100
Apr 11921
1%
11.307,600 7 in 1920
A
1 1944
O Oct
50 Ac
10,178,450
I g
A
60 Ac
5 g
10,617,450
A.Aug 1 1951
Marl'21 1M%
text
$100 $10,907,000 Bee
Q—M
A
A
O Apr 1 1953
1.000
5 g
1,195,000
J
A
D June 1 1923
500 &c
14,072,000
None
(P) Co—Common stock $30,311,200....—— —
Pref stock (a & d) 7% oum $11,307,600
Gold bonds (not mortgage) $10,933,500
do
do
do
do
10,617,450
Last
None
1921
Common stock
Lorillard
[VOL. 112.
STOCKS AND BONDS
INDUSTRIAL
194
in cash 3% quar., April 1916 to Apr. 1921,
'21.
See
text
inclusive.
the 5s.
No mortgage
for these bonds as prior claims. See V. 94, p. 283.
BONDS.—The rights of the 7s are prior to those of
without providing
REPORT.—Report for the cal. year 1920, in V. 112, p. 846,
Net
Bond
War & Exc. Pf.Divs.
Common
Income.
Int. &c. Prof. Taxes. (7%).
Dividends.
$
$
$
$
$
Cal.
Year.
showed:
Balance,
Surplus
$
1,250,982
791,532 (12)3,454,683 2.299,061
1919
1,262,082
x
791,532 (12)2,909,586 1,279,258
1,268,730 2,396.230 791,532 (12)2,454,021 2,382,312
1917
1,283,864 1,337,257 791,532 (18)2,728,000 2,171,682
x After deducting
Federal taxes.
OFFICERS.—Pres., T. J. Maloney: Sec. and Treas., W. B. Rhett.
Office, Jersey City, N. J.—(V. 112, p. 846, 1030.)
x7,796,258
—x6.242.458
9.292.825
8,312,343
LOUISVILLE GAS & ELECTRIC CO.—ORGANIZATION.—Incor¬
porated In Delaware Feb. 17 1913.
Operates and controls all of tlie gas,
electric-light (including suburbs), power and steam-beat properties In the
city.
Owns all except $124,400 of the $10,324,300 common stock of Louis.
Gas & El. Co. of Ky.
Also owns the entire stock (except directors' quali¬
fying shares) and bonds of Kentucky Pipe Line Co., owning pipe line
for natural gas from the West Va.-Ky. State line to Louisville, about
200 miles, capacity 12,000,000 cu. ft. dally.
Also controls through stock
ownership Kentucky Coke Co.
Controlled by Standard Gas & Elec. Co.
In conjunction with Mississippi Val. Gas & Elec. Co.
V: 97. p. 54. 179,
526, 1507; V. 105, p. 1714.
City suit, V. 107, p. 1007.
Violation of fran¬
chise, V. 108, p. 2128.
STOCK.—Outstanding, common, $6,448,900; par, $100.
There is also outstanding
stock of Louisville Gas
quar.,
V. 97,
p.
526.
$1,034,600 7% cum. pref. and $124,400 common
& Elec. Co. of Kentucky.
Div. on pref., 1*4%
Dec. 1913 to and incl. Dec. 1914.
In 1915, 4j^%, leaving total
%.
From March 1916 to March 1921,1H % quar.
accumulated divs., 1
(6% p. a.).
V. 101. p. 2148; V. 100, p. 1441.
of Louisville Gas <fc Elec. Co. ol
BONDS.—First and Ref. M. 5-year 7s
INC.—ORGANIZATION.—Incorp. in Delaware Sept. 24 1919
and succeeded to a company of the same name incorporated in Virginia in
1916 (V. 103, p. 1795).
Business, manufacture and distribution of candy,
and confectionery at wholesale and retail; manufacture and selling at retail
soda water, syrups, etc.
Owns two factories and operates 24 retail stores
in N. Y. City and Newark.
A third factory is under construction.
LOFT
DIVS.—Initial div. of 25 cents per share was paid Mar. 31 1921.
V. 112,
263.
p.
REPORT.—Calendar Years—
Net saies.
1920.
$7,542,667
Profit before taxes, but after all exp., deprec., Ac__
844,923
Reserve for Federal income and profits tax
126,000
Net profits after taxes
.
$718,923
P
1919
$6,049,389
1,655,543
508,679
$1,146,864
OFFICERS.—Geo. W. Loft, Chairman; Chas. B. Underhill, Pres.; J. H.
Carl, G. L. Loft, V.-P.; J. R. Haas, Treas.; D. O. Kennedy, Sec.; T. F.
Flynn, Asst. Treas. & Asst. Sec.
Directors.—C. B. Underhill, J. H. Carl,
J. R. Haas, P. Hungelmann, S. S. Menkin, G. L. Loft, G. W. Loft, N. J.
Miller,
B.
Lissberger,
H. F. Sinclair, New York; Frank Steinhart.
Havana, Cuba.—(V. 112, p. 263, 938, 1622.)
LOOSE-WILES BISCUIT CO.—ORGANIZATION,—Incorp. In N. Y.
Operates large factories in Boston. Chicago. St. Louis, Kan¬
City, Minneapolis, Omaha, Dallas and Long Island City.
V. 96, p. 65.
356; V. 98, p. 1069.
Also manufactures candy.
V. 94, p. 1320.
May 4 1912.
sas
Ky. are a first lien on all the properties owned (subject only to $1,195,000
Louisville Lighting 5s) and also the Pipe Line property through the deposit
with the trustee of $3,000,000 1st M. bonds and $2,000,000 stock of the Pipe
Line Co.
The initial $10,500,000 was sold in June 1918 to provide for retire¬
ment of $10,413,000 1st Ref. M. 6s of 1913, due July 11918.
The new Issue
Is redeemable all or part on any Int. date to and incl. June 1 1920 at 103 and
Int.: to June 1 1921 at 102. thereafter to and incl. June 1 1922 at 101. and
on Dec. 1
1922 at 100 and Int.
V. 106. p. 1691. 2653, 2762.
V. 107,
Of1
the remaining bonds. $1,195,000 are reserved to retire the Louisville
Lighting 5s, and the balance is reserved for 75% of the cost of extensions
and additions, provided net earnings are 1 2-3 times the annual Interest
charge, including the underlying bonds and those applied for.
Total
auth. Issue. $20,000,000.
V. 106, p. 2653.
The Bond Secured 8% gold notes of 1920 (of Louisville G. & E. Co. of Ky.)
are redeemable, all or part, at 101 and int. to July 15 1921: thereafter to
July 15 1922 at 100and int.; and thereafter at 100 and int.
A semi¬
annual sinking fund of $175,000 during the first two years commencing
Jan. 15 1921 is provided for the retirement of notes.
Secured by pledge of
$5 628 000 gen. mtge. bonds, due Jan. 15 1923.
Proceeds used for the
retirement of
$2,959,000 bond secured 7% notes, due Sept. 1
extensions and improvements.
1920, and for
V. Ill, p. 394.
1920. gross, $4,469,317; net,
$2,095,490.
For 1919, gross, $3,594,345; net, $1,820,430.
OFFICERS.—Pres., Arthur S. Huey: V.-P. & Gen. Mgr.. Donald MacDonald; Sec. & Treas., T. B. Wilson.—(V. 110, p. 664; V. Ill, p. 394).
EARNINGS.—For
year
ended Dec. 31
INDUSTRIAL
May, 1921.]
Date
MISCELLANEOUS COMPANIES
[For abbreviations,
STOCKS
Bonds
&c., see notes on page 6]
First
Rate
When
%
Payable
$50 $15,898,800 See
stock 516,398,800
bonds call text
Baxxkc*
Stores Corp—Common autnorized $7,000,000-.
Pref stock 7% cum authorized $1.250.000
Mackay C< mpaaies (The)—Common shares $50,000,000 auth
Pref fa A a> 4% cum $50,000,000 auth red 106
Magnolia Petroleum Co—Stock $120,000,600
Co
1st M $10,000,009 sink fund
call par
CoI.zzc*
Manatl Sugar Co—Common stock$15,000,000 auth
Preferred (a & d) 7% cum call 120$5,000,000 auth
Manhattan Electrical Supply Co—Stock
Manhattan Shirt Co—Common stock $5.000.000
Pref stock (a A d) 7% cum red 120
Manufacturers Light & Heat—Stock $25,000,00u
Lukens Steel Co—Common
1920
mtge.
100 Ac
100
McCrory
100
100
too
_
100
1912
1,000
100
100
None
25
100
50
LUKENS STEEL CO., COATESVILLE, PA.—ORGANIZATION.—
Incorp. in Penna. in 1917 to acquire all the capital stock and ultimately,
the entire property, Ac., of Lukens Iron A Steel Co. (established in 1810)
free and clear except for current accounts (V. 92, p. 1314).
Specializes
in marine and locomotive holier plates.
Capacity about 450,000 tons per
Y. 103. p. 2433; V. 105, p. 2369; V. 108, p. 884.
Owns entire
capital stock of Allegheny Ore A Iron Co., with iron mines in Virginia and
blast furnaces (75,000 tons annual capacity).
BONDS.—The 1st mtge. 8% bonds are callable at a price equivalent to a
6 X% basis from date of call to maturitv but not exceeding 110 and int.
A sinking fund of not less than 25% of net earnings after depreciation,
taxes and int. (but not less than $100,000 in any one year) commencing on
or before June 15
1921, provides for the purchase of these bonds up to
107H and int. after Nov. 1 1925.
V. Ill, p. 1756.
Pres., A. F. Huston, Coatesville, Pa.—(V. Ill, p. 1756.)
Last Dividend
Amount
Outstanding
Par
Value
See text
text
M
8 g
5,500,000
6.041.600
965,100
41,380,400
50.000.000
117.351,000
8.762,000
10,000,000
3,500,000
70,000 sh's
5,000,000
1.600,000
23.000.000
See
text
7 In 1920
Q-j"
Q—J
Q—J
4
text
Q—J 5
J
6 g
7
See text
Q
M
Q—J
Q—J
7,
7
See text
Places Where Interest and
Dividends
Maturity
Oct 15 1920
are
Payable
1%
New York
Apr 1 '21
July 1 *21
July 1 '21
Apr 5 '21
J Jan
&
Q—M
Q—J
10
and
N Nov 1 1940
See text
&
~
6 la'1920
See
195
BONDS
AND
1
II
N Y, Canada and London
do
do
IX By check
1937
June 1 1921 2X
Apr 1 1921 IH
Apr 1 1921 $1
June 1 1921 IX Checks mailed
do
Apr 1 '21 IX
Apr 15 1921 2% Checks mailed
July 1918 to Jan. 1921 paid 1J^% quar. and a special dividend of X%
In Aprli 1921, 1X%.
quarter.
each
BONDS.—First mortgage 6% gold bonds, authorized, $10,000,000; out¬
standing Dec. 31 1920, $8,762,000; canceled by sinking fund to Dec. 31
1920, $1,238,000.
annum.
McCRORY STORES CORPORATION.—ORGANIZATION.—Incorp.
McCrory Co.
Owns and operates a
Eastern and Southern States.
STOCK.—Auth.
common
stock
was
increased from $5,000,000 to
in May 1915 in Del., successor of J. G-.
chain of 158 5 and 10-cent stores in the
Surplus of $250,000 must be maintained prior to
common dividends, none to exceed 4% until surplus is $500,000.
Preferred
has preference as to dividends and assets at 110, and provision is made for
redemption after Jan. 1 1917 at price not exceeding 110 and divs.
V. 100,
p. 1756.
Dividends paid on pref. stock l%% quar. to and incl. April 1
1921.
Initial div. of 1% on com. stock paid Dec. 15 1920.
On Mar. 15
1921 the regular 1 % div. was paid in stocs:, plus a special stock div. of 20%
V. 112, p. 938.
On June 15 1921 paid 1% in stock.
The company itself has no bonded debt, but 16 of the pieces of store
property occupied by the company were in 1915 transferred to William J.
Fallon, who executed thereon an issue of $700,000 1st M. 6% serial bonds
dated June 1 1915 and due yearly on July 1 1917 to 1930, the properties
being then leased back to the company for 20 years.
V. 101, p. 135.
Bills
payable Dec. 31 1920, $897,738.
$7,000,000 in Feb. 1921.
V. 112, p. 1020.
Debt Retired by Financing in 1915.
REPORT.—For year ending Dec. 31 1920,
Sales and Net Profits, Except Interest on
Calendar Years—
1920.
1919.
$14,199,346 $11,487,045
dividends
Common
464,208
347,113
70,201
(1%) 50,000
37,045
Retirement of Preferred stock
1918.
$9,607,250
619,484
Sales
Net profits
Preferred dividends.
79,709
84,740
49,701
38,392
$334,798 ~ $223,982
OFFICERS.—Pres., J. G. McCrory; V.-Pres., J. H. McCullough, P. A.
Prior, Van C. McCrory; Treas., F. D. Jolly; Sec., B. H. Stenzel.
N. Y.
office, 621 Broadway.—(V. 112, p. 263, 658, 938, 1020, 1150, 2089.)
" $462,238
Surplus
(W. H.) McELWAIN CO.—(V. 112, p.
263,378,475, 1622,1983,219/.)
MacANDREWS & FORBES CO.—(V. 112, p. 1150, 2089.)
(THE).—ORGANIZATION.—A voluntary
deed of Dec. 19 1903 and managed by 12
trustees, elected annually.
Present trustees are: Clarence H. Mackay, F. L.
Polk, George G. Ward, Edward C. Piatt, George Clapperton, M. W. Blackmark, Charles H. Sabin, Lewis L. Clarke, William J. Deegan, Morton S.
Paton (N. Y.), Sir Edmund B. Osier (Toronto), Sir Thomas Skinner (Lon¬
don, Eng.).
Owns entire $25,000,000 stock of Commercial Cable Co. and
the entire capital of the Postal Telegrah svstem: also capital stock in other
cable, telegraph and telephone companies in united States, Canada and
Europe.
See V. 84, p. 448; V. 85, p. 407: V. 86, p. 476; V. 89, p. 848.
Rights of stock.
V. 84, p. 870.
Government valuation in 1918, V. 106,
p. 1465. 1581.
Wages, V. 106, p. 2762.
In Sept. 1919 arrangements were
proceeding for the laying of a new American cable to Japan, &c.
V. 109,
p. 1278.
Extensions, improvements, &c.t see annual reports in V. 110, p.
association formed under trust
870; V. 112,
p.
2334; V. Ill, p. 2234.
,
surrendered control of all the telegraph,
cable and telephone lines held by it.
V. 108, p. 1775, 1825, 1940, 2128.
2438, 2532; V. 109, p. 482.
As to Government demands see V. 109, p.
1992; V. 110, p. 870, 1936; V. 112, p. 854.)
Under I.-S. C. Comm. juris¬
diction, V. Ill, p. 595.
DIVIDENDS.—
1907-10.
1910-16.
1917.
On
4 yearly
5 yearly
5%
common
/1906.
%\
3
1918 to July 1921.
6 yearly (1M Q-J.)
REPORT.—Year ending Feb. 1 1921, in V. 112, p. 848, showed:
Feb. 1 Years—
1920-21.
1919-20.
1918-19.
1917-18.
Receipts
$4,868,988
Oper. exp., Fed. tax., Ac_
535,400
Preferred dividends (4%) 2,000,000
Common dividends (6%)- 2,230,336
644,884
301,121
$4,519,365
89,049
2,000,000
2,355,988
2,000,000
2,388,677
2,000,000
2,425,198
$5,021,095
$4,695,496
Balance, surplus
$103,252
$20,223
$5,698
$5,108
(The policy of the Mackay Companies is to obtain from the subordinate
companies only enough money to meet the divs. of the Mackay Company
■hares, all surplus earnings being left in the treasuries of the subordinate
companies for extensions and the development of the business and the in¬
crease of reserves.)
Office, 112 State St.. Boston.
OFFICERS.—Pres.,
Clarence H. Mackay; V.-P.,
Geo. G. Ward
V.-P. & Treas., Edw. C. Piatt; Sec., Wm. J. Deegan.—(V. 112, p. 167,
263 750, 848, 854, 1288.)
,
MAGMA COPPER CO.—(V. 112, p. 2089.)
PETROLEUM CO.—ORGANIZATION —A joint stock
(unincorporated) organized on April 24 1911 under laws of
and controls oil wells in Texas, Oklahoma, Kansas and
Ark., with refineries located at Beaumont. Fort Worth
and Corslcana,
Tex., also trunk pipe lines from Gushing and Healdton, Okla.. and
Electra, Tex.
In Dec. 1918 commenced construction of an 8-inch oil pipe
line from Ranger to Corsicana, Tex., 120 miles.
V. 107. p. 2380.
STOCK.—Auth., $120,000,000 (increased in March 1920 from $60,000.000, par $100 (V. 110, p. 1093).
$22,000,000 was offered to shareholders
of record Jan. 21 1918 at par (see V. 106. p. 302, 194: V. 104, p. 76), and
$14,671,900 was offered in July 1919.
A 100% stock div. was paid Dec. 28
1920, increasing the amount outstanding to $117,351,000.
The remaining
unissued stock was offered to stockholders at par in May 1921.
V. 112, p.
2197.
In Jan. 1918 Standard Oil Co. of New York acquired about $19,800,000 of the stock without voting power.
The Federal Trade Commission in
April 1918 charged that this might unduly lessen competition.
V. 106,
MAGNOLIA
association
Texas.
n
504
Owns
1799
DIVIDENDS.—
Extras in cash.
Stock dividends
1915.
1916-17.
1918.
1919.
1920.
1921.
4%
1914.
Regular dividends
6% p. a.
6%
6%
6%
See
1%
2%
—
100%
25%
2%
100%
text
Not
stated.
$23,157,188
$9,365,973 $32,538,173 $18,825,980
Divs., approximate__ (8 %)4,694,040
(7X)3887000(6)2,729,464 (6) 1,320,000
Balance, surplus__.„$18,463,148
$2,713,937 $27,844,989 $17,505,980
Net profits
2,765,036
Federal taxes
1,963,720
OFFICERS.—Pres., John Sealy, Galveston; V.-Pres. & Gen. Mgr.,
Brown, Dallas; Sec., Courtenay Marshall, Beaumont, Treas., W.
Proctor, Dallas.—(V. 112, p. 1150, 1972, 2197.)
O.
CO.—ORGANIZATION.—Organized under laws o
Mew York, April 30 1912.
Engaged in the business of owning and operating
i sugar estate and factory in the island of Cuba, in the growing of sugar
?ane, in the manufacturing of raw sugar therefrom, and In the sale of such
sugar.
Owns and controls 276,060 acres of land.
MANATI SUGAR
on June 9 1920 approved an
$15,000,000,
$3,500,000 to $5,000,000; outstanding, $3,500,000
7% cumulative pref. (a. & d.) and $10,000,000 com.
Par value, $100.
Pref. stock is redeemable at 120 and accrued divs., and has equal voting
CAPITAL
STOCK.—The stockholders
increase in the authorized common stock from $10,000,000 to
and In the preferred from
with com. stock.
'
>
"
•
, .
DIVIDENDS.—Beginning Aprll l" 1915, the company has paid'regularly
luarterly dividends on the pref. stock at the rate of 7% per annum.
On
eommon, paid 2M% quar., Dec. 1 1917 to June 1 1921
also extra divs. as
'ollows: Nov. 8 1916, 20% In com. stock Sept. 8 1919, 2X% in cash and
5% in com. stock.
power
_
f*
1920: Sales, $10,991,831; miscellaneous
REPORT.—Year ended Oct 31
income, $212,626; expenses, $7,426,396; profit on operations, $3,778,060;
leductions, $1,152,800; net profit, $2,668,131; preferred divs., $245,000;
eommon divs., $1,000,000; surplus for year, $1,423,131.
Frederick Strauss*
Phillips, E. D. de Ulzurrun and Higinio Fanjul*
N. Y«
OFFICERS.—Regino Truffin, Pres.; Manuel Riondo,
Alfred Jaretzki, Wm. P.
Vice-Presidents; Manuel E. Rionda, Treas.; M. R. Angulo, Sec.
•fflce, 112 Wall St.—(V. 110, p. 1753, 2197, 2296.)
MANHATTAN ELECTRICAL SUPPLY CO., INC.—Incorp. in Mass.,
On July 1 1916 took over the business and assets of the Man¬
Nov. 8 1916.
Manufacturers and jobbers in elec¬
Supply Co. of N. J.
and apparatus.
Plants are located in Jersey City, N. J.,
Ravenna, O., and St. Louis, Mo.
Stores located in New York City, Chi¬
cago and St. Louis.
trical supplies
RECAPITALIZATION.—On Aug.
10 1920 the stockholders voted to
shange the outstanding 30,000 shares of common stock of $100 par value
to increase the authorized number of
Aug. 20 1920 notified its common
ftockholders that each $100 snare of outstanding common stock could be
dxchanged for one share of no par value common stock. No time limit was
placed upon the exchange.
All outstanding 1st pref. and 2d pref. stock
lot exchanged for no par value stock was redeemed in cash at $112H and
Into 30,000 shares of no par value, and
ihares to 250,000.
The company on
1100, respectively, on Oct. 1 1920.
30,000 shares of
value stock was paid Oct. 15 1920.
A stock div. of 10% was also
On Jan. 1 1921 paid $1.50 and on April 1 1921 paid
DIVIDENDS.—Initial div. of $1 50 per share on the
10
848.
Increased rates. V. 108. p. 1392,
On July 31 1919 the Government
1917.
1918.
$72,643,639 $49,819,657 $59,789,731
40,453,684
17,251,558
Oper. exp.,incl. depr.,&c 49,486,451
hattan Electrical
COMPANIES
MACKAY
REPORT.—For 1920, in V. 112, p. 1972, showed:
Calendar Years—
1920.
1919.
Gross earnings.
par
paid on that date.
$1 per share.
—-
EARNINGS.—For cal. year 1920, sales,
$7,286,446; net profit, $153,014;
pref. divs., $70,900; common divs., (incl. no par
stock div.), $368,355.
V. 112, p. 2089.
stock, interim certf. and
Baisley; Pres. & Treas., B. H. Ellis;
1st V.-Pres., E. Whitmore; 2d V.-Pres. A Asst. Treas., J. F. Baisley; 3d
V.-Pres., F. W. Bacon; Asst. Treas., J. J. Ryan.
N. Y. office, 17 Park
Place.—(V. 112, p. 269, 378, 1030.)
,
,
t
OFFICERS.—Chairman,
C. T.
CO.—ORGANIZATION.—Incorporated in
New Jersey company of same name.
pajamas.Ac. Application
*o list showing properties owned, rights of stock, Ac., V. 100. p. 405.
STOCK.-Total pref. stock Issued $3,000,000; amount redeemed to
Dec 1920, $1,400,000. Pref. is redeemable (also In liquidation) as a whole
or In part at 120 and accrued div.
Cumulative yearly sinking fund, $90,000, to purchase or call pref. stock.
For further rights, see V. 100, y. 495.
MANHATTAN
SHIRT
few York June 15 1912 ae successor of
Manufactures men's shirts, collars, underwear,
DIVIDENDS %.—
f1915.
X
On common
in Lib bonds..
do
]
I
__
1916.
2H
__
1917.
4
__
1919. 1920-21.
6X
Text
1918.
4
Dec., 2
--
stock 7% p. a. (1X Q.-J) Oct. 1 1912 to Apr. 1921.
In Dec. 1918
2% was paid on com. in 4X % Liberty bonds.
V. 107, p. 1924.
In March 1919 paid 1% on com.; June 1919 to June 1921, IX % quar.
The stockholders on June 101919 voted to reduce the par value or the com.
ihares from $100 to $25.
V. 108, p.2438.
On pref.
in
extra
REPORT.—Report for year ending Nov. 29 1920:
Years end. Nov. 29—
1920.
1919.
1918.
net________ _TT_
$845,896
$1,695,102 $1,076,776
Interest
156,800
43,799
50,732
Federal taxes
li5,000
526,000
365,000
Pref. dividends (7%)
112,000
112,000
112,000
Common dividends
(7%)350,003 (6^)312,500
(4)200,000
Totai
_
1917.
$992,964
28,838
175,000
120,750
(4)200,000
Baiance, surplus
$112,093
$700,802
$349,044
$468,376
Pres., Abram L. Leeds; Treas., Silas Thomas; Sec., L. O. Leeds.
Office,
242 Madison Ave., N. Y.—(V. 112, p. 67. 263, 367.)
(THE) MANUFACTURERS LIGHT & HEAT CO.,
—ORGANIZATION.—Incorp. In Pa. Apr. 21 1903 as a
PITTSBURGH.
consolidation of
a
companies operating in Allegheny, Washington
and Greene counties. Pa.
V. 88, p. 503; V. 90, p. 1428; V. 92, p. 524;
V. 91, p. 1633 217.
number
of
natural
gas
,
DIVS.) 1911. '12. '13. *14. '15.
1
X
3
6X 7X
8
1921: Jan. 15. 2%; April 15, 2%.
LATE
Percent
In
*16. 1917. '18.
8 8A2ex
8
'19.
'20. '21.
8
10
text
MISCELLANEOUS
[For abbreviations,
Date
Par
Amount
Value
Outstanding
%
Maracaibo Oil Exploration Corp—Stock 250,000 shares..
Mark Mfg Co—See Steel A Tube Oo of America
Marland Oil Co—Stock—See text
S Fparticlp g bonds Ser" A" $7,000,000 call (text)Gk.xxxc*
Marland Refining—Stock $25.000.000
Equip trust nottes Ser "A" due serially (see text)
xxxc
Marlin-Rockweli Corp—Common stock 81,136 shares
Martin-Parry Corp—Stock auth 100,000 shares
Massachusetts Gas Companies—Common stock.
Preferred (a Ad) 4% cum 525.000,000
OB
Sinking fund gold bonds redeemable at 105——OB.*c*&r
Debentures gold red 105OB,*
Gross earnings
Operating
and taxes
expenses
Net surplus
Dividends
before dividends
$1,000
1,000
None
None
100
1909
1,000
4.280.000
1911
1,000
4,000,000
Balance,
_
♦Operating
1,221,914
*
expenses,
OFFICERS.—Pres., John E. Gill, Franklin, Pa.; Sec.
H. E. Seibert: Treas., G. W. Ratcliffe, Pittsburgh; V.-P.,
J. I. Buchanan, M. B. Layton, Pittsburgh.
Main office,
Bldg., Pittsburgh, Pa.—(V. 112, p. 854, 2089.)
Incorp. Sept.
EXPLORATION
OIL
MARACAIBO
1,167.699
6 1919
in
Delaware
to
A Asst. Treas.,
L. A. Meyran,
Columbia,Bank
CORP.—ORGANIZATION.—
take over and develop exten¬
Venezuela, showing oil formations and seepages.
Owns all
stocks of the Mara Exploration Co., Miranda Exploration
Co., Paez Exploration Co., Perija Exploration Co.. Sucre Exploration Co.
and Urdaneta Exploration Co., which companies possess Government con¬
cessions located in the Maracaibo Basin or Venezuela, totalling 1,025,000
acres of oil-bearing land,
carefully selected and approved by geologists.
The acreage acquired in the opinion of the geologists includes some of the
most potentially valuable lands in the Maracaibo Basin, which is accessible
to ocean-going steamers.
Drilling is proceeding on two sides of the lake
on areas recommended as especially favorable by the corporation's geolo¬
gists.
Intensive exploration of other distiicts is now going on.
The cor¬
poration has entered into an agreement with the Standard Oil Co. (N. J.)
whereby the Standard Oil Co. undertakes the development of three conces¬
sions belonging to the Maracaibo Oil Explor. Corp. other than those upon
which the corp. is now drilling and will share with the Standard Oil Co.
the results of these additional operations. V. 112, p. 1746.
The company has no bonds or preferred stock.
sive
lands in
©f the capital
DIRECTORS.—William Wallace Mein, Pres.; R. E. Griggs, V.-Pres.;
W. A. Bostwick, Harry Hollins Jr., Huntington W. Jackson, S. C. Thom¬
W. D. Ticknor, R. C. Warriner, New York.—(V. 112, p. 476, 1522,
1622, 1746, 1872.)
son,
MARQAY OIL CORPORATION.—V.
109,
p.
OIL
County Gas Co. capital stock.
BONDS.—The 10-year 8% s. f. participating gold bonds Series "A" are
callable, ail or part, at 105 and int. on or before April 1 1926; thereafter on
or before. April 1 1927 at 104; thereafter on or before April 1
1928 at 10.3;
thereafter on or before April 1 1929 at 102, and thereafter to maturity at 101.
A quarterly sinking fund of $100,000 (first payment Oct. 1 1921) should
retire practically all bonds before maturity.
In addition to 8% int. p. a.,
Series 'A" bonds will receive $10 per $1,000 bond for each dollar per share
p. a. declared in divs. on capital stock of co. up to $4 a share so declared.
Each Series "A" bonds will carry a detachable warrant entitling the holder
thereof to subscribe on or before April 11931 to 25 shares of stock of Marland
OR Co. at $40 per share. V. 112, p. 1746.
Statement
/
„
Net
of Earnings, Calendar
v
earns,
from oper. (after Fed. tax.)
1918.
1919.
1920.
$2,270,824
238,761
$5,368,275
$1,879,595
66,245
$2,509,585
103,043
$5,524,158
275,553
s. f., res'ves & surplus $1,813,350
112, p. 1735.
$2,406,542
$5,248,604
Income available for interest
—
Less interest paid
Inc. avail, for
(Concolidated Companies).
$1,828,043
51,553
Miscellaneous income
Compare V.
Years
The directors of the
155,883
new
company are: E. W. Marland, W. H. McFadden, W. G. Lackey, John S. Alcorn, F. R. Kenny, Sam C. Collins, C. C.
Brown and Earl Oliver, Ponca City, Okla.; E. W. Potter, A. J. McAllister,
of Potter Bros. & Co., New York; Sidney H. March, of Ladenburg, Thalmann & Co., New York; J
D. Callery, Pittsburgh; W. F. Stifel, John E.
Stevenson, Wheeling, W. Va.; C. D. Smith, Memphis, Tenn.; Vernon F.
Taylor, Indiana, Pa., and Louis J. Nicolaus, St. Louis, Mo.—(V. 112,
p. 263, 854, 1622, 1735. 1746, 1983, 2197.)
MARLAND
REFINING CO.—ORGANIZATION.—Incorp. Nov. 18
a capital of $1,000,000, but was organized in March,
■a caPita' °f $2,500,000 and took over the property and assets
*
?£
P.0,i Marland Oil Co., all the oil properties of W. H.
McFadden and E. W. Marland and
leases
oil Briici
acquired
a
Dividends
are
Payable
1
New York
April 1 1931
Oct 25 '20 2X %
1921-1923
Bankers Tr Co,
See text
June 1
1
^
1, Oct. 1 1922, $25,000 each Jan.
V. 112, p. 1872.
1923.
DIVIDENDS.—Divs. have been
paid
as
,
April 1 and Julyl
'
follows: Aug. and Nov. 1917,
2\4% each: Feb^, June and Sept. 1918, 2V4 %'. Jan. 19l9toOct.
quar.
Stock dividends have been paid as follows: June 1918,
1918, 10%; Jan. 1919. 10%; July 1919. 25%.
EARNINGS.—Net
N~Y " "
.'21 50c.
May2 21
1H Old'colony Tr Co, Bostok
do
do
June 1'21
2%
Boston, Mass
Jan
1 1929
Old Colony Tr Co, Bast
Deo 11931
income available for
1920,2X%
40%; Sept.
surplus and reserves for
year
ended Dec. 31 1920 amounted to $4,247,874. V. 112, p. 1405.
DIRECTORS.—E.
W. Marland
(Pres.),
W. H. McFaden,
(V.-P.),
J. 8. Alcorn (V.-P.), Samuel C. Collins, W. K. Moore, Vernon F. Taylor.
Indiana, Pa.; O. D. Darrigrand, Wichita. Kan.; Louis J. Nicolaus, W. G.
Lackey, St. Louis, Mo.; John E. Stevenson, Wheeling, W. Va.. and J. D.
Callery. Pittsburgh, Pa. Office, Ponca City. Okla.—(V. 112, p. 263, 1405.)
MARLIN-ROCKWELL CORP.—ORGANIZATION.—Incorp. in New
York Dec. 8 1915 as Marlin Arms Corp.
Name changed as above March
1917.
Property includes (V. 107, p. 1383, 1104): (a) Marlin plant at New
Haven, Conn.; (b) Norwich, Conn., plant, formerly owned by Hopkins A
Allen Arms Co., acquired during 1918; (c) Hamden plant at New Haven:
id) Philadelphia plant for manufacture of roller bearings, formerly of
Standard Roller Bearing Co.; (e) Plainville, Conn., ball and roller bearing
plant; (/) Mayo plant for manufacture of radiators for automobiles and
aeroplanes, located in leased property in Bronx, New York City; (g) Con¬
trol of the Braeburn (Pa.) Steel Co., with 33-acre plant reported to have
a monthly capacity of 750 tons of high-speed and tool steels; (h) Plant of
Richmond Radiator Co., Phila. V. 107, p. 909.
In Jan. 1921 was reported
disposed of its radiator business and sold its radiator department
equipment at auction. Full official statement as to status under peace con¬
ditions. V. 107, p. 1845. Plan to concentrate on production of bearings,
V. 110, p. 2391.
anilje
STOCK.—Common, 81,136 shares, no par value; outstanding, 68,145;
reserved for conversion of notes, 12,991 shares.
Voting trust was extended
in March 1917 till beyond March 14 1922.
Voting trustees, O. B. Willcox,
A. F. Rockwell and G. Hermann Kinnicutt.
V. 107, p. 1383.
All of the
$3,500,000 pref. stock was paid off at par and divs. in Dec. 1916 and Jan.
1917.
V. 104, p. 76, 260.
Common stock listed on N. Y. Stock Exchange
in Sept. 1918.
Full statement, V. 107, p. 1383; V. 108, p. 2634.
to have
DIVIDEND.—A dividend of $6 was declared in Nov.1918, payable $1
Nov. and Dec. 11 1918, and Jan., Feb.. March and April 11 1919.
each
1466, 1530.
CO.—ORGANIZATION.—Incorp. Oct. 9 1920 in
Delaware with an authorized capital of 2,000,000 shares of no par value
The company
acquired by consolidation the Marland Refining Co. ar.d
the Kay County Gas Co. by exchanging its shares for shares of the old com¬
panies on the following basis; One no par value share in the new company
for each ten shares of Marland Refining Co., par $5 each, and one share in
the new company for each 20 shares of Kay County Gas stock, par $1 each.
Outstanding in April 1921, 795,150 shares, Issued in exchange or neld against
certf. of deposit for 92.97% of Marland Refining Co. and 97.30% of Kay
MARLAND
f?
i
4X e
4H f
each April 1, July
1918.
$9,693,5/3
6,166,198
3.410.651
$713,574
$260,671
$402,952
include depreciation and depltion, $2,455,659.
surplus
8 g
10
24,447,900
6
215,000
68,145 shrrtj See text
100,000 sh. $2in 1920
25.000.000 See text
25.000,000 4 in 1920
100
(8%)1,840,000(10)2.300.000 (8)1.840,000
Depreciation and depletion
$4,000,000
1921
1920
112, p, 854:
1919.
$12,095,133 $10,987,539
*9,586,084
7,050,544
2,553,574
3,782,585
1920.
Places Where Interest and
and Maturity
Payable
None 250,000 sh.
REPORT.—Calendar year 1920, In V.
Calendar Years—
Last Dividend
When
Bate
Bonds
COMPANIES
&c., see notes on page 6]
[VOL. 112.
STOCKS AND BONDS
INDUSTRIAL
196
large amount of undeveloped
•
PROPERTIES.—The company owns, in whole or in part, 108,629 acres
of developed and undeveloped leases.
On Dec. 31 1920 the properties had
249 producing wells.
Has two refineries, daily crude capacity as skimming
respectively;
in May and June also paid $1; July, none.
EARNINGS.—For cal. year 1917 and 6 mos.
1845, 1383.
1477.
^
_
Oth.Inc.WarTax.P.&L.Ch. Net Prof.
Net Inc.
Sales.
V. 109, p. 1787;
of 1918, V. 107, p. 1383,
Balance sheet Dec. 31 1919, V. Ill, p.
1917~$12.525,296 $2,226,540 $12,884 $700,000 $564,921 $974,503
6mos.1918. 13,252.301
2,989,088
35.208
(7)
—
- 3,024.290
OFFICERS.—Chairman, A. F. Rockwell; Pres., D. C. Roper; V.-ITes.,
T. C. Fogel; Treas., H. C. Pryer; Sec., RalJ)h A. Gamble.
N. Y. office,
347 Madison Ave.—(V. Ill, p. 394, 1477; V. 112, p. 263.)
i
Year
_
MARTIN-PARRY CORP.—ORGANIZATION.—Incorp. in Delaware
May 26 1919 and has acquired Martin Truck A Body Corp., York, Pa.,
Parry Manufacturing Co., of Indianapolis.
Manufacturers of com¬
mercial automobile bodies.
Plants at York and Indianapolis have a com¬
and
bined output of 60,000 bodies
for doubling the capacity of
annually.
Plans were
the company's plants,
Apr. 1920 the truck business was taken over by
new
approved in Jan. 1920
v. 110, p. 471.
In
the Atlas Truck Corp., a
corporation, stockholders being given the privilege of subscribing to
share.
V. 110, p. 1647.
quar. div. of 50 cents per share was paid Mar. 1
25,000 shares of the latter company's stock at $5 a
DIVIDENDS.—Initial
1920:
amount paid quar. to June 1 1921.
same
REPORT.—For cal. year 1920, in V. 112, p.1 1405, showed: Net sales,
$3,725,434; net profit, $376,989; Fed. taxes, $65,635; dividends. $200,000;
surplus, $111,354.
„
_
Watson, Jr., Chairman; F. M. Small, Pres.
Herrick, S. C. Parry, James F. Shaw, Guy E.
Tripp, Harry Hopkins, Jr., and W. F. Dewart.
The Secretary is Henry
Hopkins, Jr., and Treas., J. J. Giltman.
Office, York, Pa.—(V. 112,
p. 378, 1405. 1622.)
DIRECTORS.—J.
J.
Robert I. Barr, Walter R.
MASSACHUSETTS GAS COMPANIES— ORGANIZATION.-^ vol¬
plan In V. 74, p. 1311.
Boston
untary association formed in Oct. 1902, per
Con sol. Gas Co. operates gas generating
plants at Everett. Commercial
Point, Calf Pasture
Allston, Ac.
Gas Is sold and distributed for con¬
sumption In Boston and suburbs; amount sold for year ending Dec. 31 1920,
$6,778,799,000 cu. ft. an increase of 7.5% compared with the output of
the previous year.
The Massachusetts Gas Companies own $15,111,600
of the $15,124,600 stock of Boston Consol. Gas Co.; also the $25,000,000
capital stock of the New England Fuel A Transportation Co. (see V. 109,
p.
1705), $575,000 stock of the East Boston Gas Co., entire $560,000
capital stock of Newton & Watertown Gas Light Co., $918,000 stock of
Citizens Gas Lt. Co. of Quincy, Mass., $1,487,212 stock of Beacon Oil Co.,
&c.
V. 100, p. 1575, 1690; V. 108, p. 274.
Wages, V. 107, p. 1750.
Rates, V. 110, p. 1091.
1"
Sliding scale gas law, see V. 101, p. 1268; V. 82, p. 1270.
Boston Consol.
Gas Co. July 1 1907 reduced price of gas to 80 cents but on Jan. 1 1918 on
account of increased expenses raised rate to 90 cents and in Oct. 1918 to $1.
Rates were further increased during 1920 to $1.10 on March 5 and to $1.35
on July 23.
The price was fixed temporarily at $1.40 effective Jan. 4 1921.
Beginning June 15 1921, the price was fixed at $1.35.
Note issue, V.
Slants 15,000 bbls., andcubic feetplants 6,000 bbls.; 3 and 37 distributing
aIJy*M?:pacity 3,250,000 as lube of gas; 720 tank cars casinghead plants,
110
p
001
Effective June 30 1917, the New
incorporated in Oct. 1920 for the purpose of
acquiring by consolidation the Marland Refining Co. and the Kay County
Gas Co.
For terms of exchange, &c., see statement of Marland Oil Co.
above. The plan was declared effective in Jan. 1921. V. 112, p. 263.
took
and filling stations.
The Marland Oil Co.
.
&
was
OAPJTAL.-The stock
was
increased from $2,500,000 to $10,000,000
In Feb. 1918, of which $2,568,740 as a stock dividend.
In May 1919 was
The stockholders of record May 15 1919 were
given the right to subscribe to new stock at par ($5) to the extent of 50 %
of their holdings (V. 109. p. 490).
The stockholders of record Oct. 31 had
the right to subscribe up to Dec. 1 1919, to 10% of their holdings at par
($5) to the remaining treasury stock.
V. 109, p. 1897.
Stockholders of
record April 30 1920 had the right to subscribe to stock of the new Marland
Oil Co. at $1 a share.
Eauipment Notes.—The company guarantees $1,296,000 equip, notes of
Marland Tank Line Co., the entire stock of which is owned by the Kav
County Gas Co. V. Ill, p. 2234.
increased to $25,000,000.
In
April 1921 sold $215,000 equip, notes Series "A," maturing as follows-
$22,000
on
July 1 1921, $23,000 each Oct. 1 1921 and Jan. 1 1922. $24,000
England Fuel A Transportation Co. (of
Mass.), whose capital stock is all owned by the Massachusetts Gas Cos.,
over all the property of the New England Gas A Coke Co., Boston
Tow Boat Co. and Federal Coal A Coke Co.; and thecapital stock and all
the property of New England Coal A Coke Co. (except business of purchas¬
ing and selling of coal).
V. 105, p. 2189, 2003, 612; V. 104, p. 2122; V. 99,
p. 1455; V. 93, p. 232.
f.
4I
%
The New
England Mfg. Co., the
munition co. (in process of liquidation)
outstanding
retired during 1920, 2,225 shares at $100 per share, leaving
275 shares of which 130% shares are held by Mass. Gas Cos.
Beacon Oil Oo was organized early in 1919 with a capital of $2,500,000
to
owning stock control to enter the oil
V. 108, p. 2334; V. 112, p. 476.
>oi
DIVS.— 11907 to 1910 "11A 12
1913. *14. 16. '10
'17 1917 to May'21
)n oom. % f 3 yearly
4 yearly. 4H.
5
5
5 text.
\H% Q*?
$1,250,000 set aside for 5% com. divs. Aug. 1916 to May 1917; but in
June 1917 $1,750,000. increasing rate for 1917-18 to 7% yearly.
V. 104.
p. 2644.
Red Cross. X of 1% July 16 1917.
enable the Massachusetts Gas Co. s
refining business.
BONDS.—The 56.000,000 4^s
per annum
$120,000
No mortgage or pledge
of 1909 have a sinking fund of
for first 5 years and 5180,000
thereafter.
MAY, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
see notes on page
STOCKS
Date
Par
Amount
Rate
When
Value
Outstanding
%
Payable
Mathieson Alkali—Common stock $6,500,000
Preferred (a & d) stock cum 7% $3,500,000
Maxwell Motor Co, Inc—See text.
May Department Stores Co—Common stock
Pref (a & d) 7 % cum redeem 125 (text)
May Bldg 1st M leasehold serial M gold red text.
100
100
—....
can
104, 161.
be
marie
Debentures,
without
see
equally
V. 93,
securing
1671; V. 94,
p.
p.
the' bonds. V. 88,
283.
p*
Total
Years—
Income.
$
1920
Int.,&c.,
Charges
$
$3,474,946 $620,466
3,412,234
665,176
3,330,496
770,293
1919
1918
112, p. 1746:
Preferred
Common
Balance,
Dividends,
Dividends.
Surplus.
$
$
$
(4%)$1,000,000 (7 %)$1,750,000 $104,480
(4%) 1,000,000 (7%) 1,750,000
97,059
(4%) 1.000,000 (7%) 1,166,667
393,536
OFFICERS.—Pres., James L. Richards; Sec., A. S. Bull.
Office, Mino^
Bldg., Boston.
TRUSTEES.—Robt. Winsor, Chairman.
Charles F. Adams, Walter
C. Baylies, Samuel Garr, Joseph B. Russell, Frederic E. Snow, Edwin S.
Webster, James L. Richards, H. Wendell Endicott, E. M. Richards.—
(V. 112, p.1 476, 938, 1030, 1746.)
MATHIESON
ALKALI
WORKS (INC.).—ORGANIZATION.—Incorp. in Va. in 1892 and manufactures soda ash, caustic soda, bicarbonate of
soda, &c.
In July 1917 merged the Castner Electrolytic Alkali Co., all
stock previously owned.
Capital stock, see table at head of page.
(See offering, V. 104, p. 261.)
No bonded debt.
REPORT.—For year ending June 30 1920 In V. Ill, p. 1563;
1919-20. 1918-19.
Earnings after deducting manufacturing, selling, general
and admin, expenses, depletion and depreciation
$642,227 $414,522
Other income (net)
•
59,547
79,062
Total income
Deduct—Pro v. for Fed. income &
excess
profits taxes
Provision for sinking fund
Dividends on preferred stock (7%)
Dividends on common stock
$701,774 $493,584
$48,209
$69,231
37,500
49,300
214,533
215,383
176,571
Transferred to balance sheet
_$401,532df$16,901
$585,301: reserved for Fed. taxes,
$56,157; pref. stock sinking fund, $31,581; preferred dividends, $213,332;
balance, surplus, $284,231.
For
cal.
1920:
ear
Net earnings,
DIVIDENDS.—On the pref. at rate of 7%
yearly, since organization.
Apr. 1919 div. on com. passed.
V. 108, p. 1169.
Common dividends. '09. TO. '11. *12. '13. 14'. *15. *16. *17. *18. ' 19. '20.
Per cent
6H
6
6
m
0
4M 6H 6
7H 5*4
4
4
Pres., E. M. Allen.
N. Y. office, 25 W. 43d St.- -(V. 112, p. 751. 854,
938. 1515.)
.
MAXWELL
CO.,
MERGER.—In Nov. 1919
with the Chalmers Motor
a readjustment of capitalization and
Corporation was proposed.
a merger
Committees representing (1) the merchandise, and (2) the banking credi¬
tors of the Maxwell Co.; and (3) the stockholders of the Maxwell and the
agreed upon a plan and agreement ef reorganiza¬
bearing date Sept. 1 1920.
This plan succeeds the plan of Aug. 30
Chalmers companies, have
tion
abandoned.
V. 109, p. 98.5, 978, 985, 1700.
The plan
in Jan. 1921.
V. 112, p. 263.
8uit to restrain
p.
1150.
Pres. W. Ledvard Mitchell was appointed
receiver on April 9 1921 as a final step toward reorganization.
V. 112,
p. 1622, 2089.
Sale confirmed, &c., V. 112, p. 2197.
1919, which
was
was
declared operative
merger,
V.
112,
(Preferred) Stock.—Par value $100
share.
Total authorized
Rights of Depositors to Acquire Syndicate Stock.
and for other amounts at the same rate.
Absolute Right to Acquire
rinimum Amounts of Class A and(Along B Stock Which Depositors Have tht
Class with Additional Amounts
Subject to Allotment.)
Cash
1st Install
Respect of Each 10 Shares of
New StockPayment, of 10%.
Existing Stock Deposited— '
Class A.
Class B. _ _T
Maxwell 1st pref
4.5 shrs.
12
shrs.
$450
$45 00
Maxwell 2d pref
2.25 shrs.
6
shrs.
225
22 50
Maxwell common
.9 shrs.
2.4 shrs.
90
9 00
In
5.4
Note.—In
case
shrs.
14.4 shrs.
540
54 00
.9
Chalmers preferred
Chalmers common
shrs.
2.4 shrs.
90
9 00
Chalmer®
amounts shown by the foregoing
holders of all outstanding stocks
Class A stock and Class B stock at the same
179,821 shrt
13,333 1-3 shares of Class B stock may be set aside to be soli
employees at a price not less per share than that at which the under
writing syndicate has agreed to acquire stock under the plan.
One, Two and Three-Year 7% Notes.—Payable, principal and interest
substantially as follows: One-third in amount one year from their date
one-third in amount two years from their date; and one-third in amount
three years from their date; but all or any part redeemable at option oi
new company at par and accrued interest upon due notice.
Issuable only to the amount required (in addition to the cash payment
to
provided by the plan) for delivery under terms of plan on account of claim*
of merchandise creditors and unsecured notes of Maxwell company depost
ted or otherwise subjected to the plan.
The principal amount of tnesi
unsecured claims and notes is estimated at $22,941,000 (including interest
accrued to date of new notes) and if all become subject to the plan it is esti¬
mated that the new company will issue $15,294,000 of the new notes, viz.:
One-year 7% notes subject to call at par and interest
__$5,098,00ft
Two-year 7% notes subject to call at par and interest
5,098,00(5
Three-year 7% notes subject to call at par and interest
5,098,001
Chalmers Motor Co. 1st M. 6% Five-Year Gold Notes Maturing
Oct. 1 1922 (see V. 105, p. 912), left undisturbed by the plan.. 3,150,00ft
price per share, thus reducing
correspondingly the stock contemplated to remain in the treasury.
pare V. Ill, p. 1375.
_
,
Com¬
_
_
Reorganization Committee.—Walter P. Chrysler, J. K.
Harbeck. Geo. W. Davison, B. F. Everitt, E. R. Tinker, Ralph Van
Vechten, James C. Brady, Leo M. Butzell and Hugh Chalmers, Eldon
Bisbee, Harry Bronner, Henry V. Poor.
Sec., A. A. Rost, 11 Pine St.,
N. Y.
Depositary, Central Union Trust Co., N. Y.
Managing and
REPORT.—In full for year ending July 31 1919. in V. 109, p.
Consol. Profit and Loss Account Years ending July 31.
1917-18.
1916-17.
$5,342,728
$5,531,034
$2,144,214
1,085,109
$2,437,114
726,220
572,176
395.857
$3,163,334
$871,133
133,366
$5,914,905
$407,208
139,151
$5,926,892
$500,256
reserve
dividends
pref. dividends..
of
2448:
1915-16.
$3,229,323
$929,937
131,333
x233~51~5
value
X953.762
976,427
(6%) 607,650
137,641
200,000
2,750,013
(10%)1,277,800
50,173
Adjustment of taxes
580,392
of
Res. for conting
Reserve for income tax
75,000
600,000
169.887
$2,338,982
$5,510,775
Deprec. on bldgs., mach'y and tools over and above repairs & replace ts.
x During the year 1917-18 the regular quarterly dividends of 1M % on the
1st pref. stock for the quarters ending Sept. 30 and Dec. 31 1917 were paid in
cash and for the quarters ending March 31 and June 30 1918 in dividend
certificates payable as to principal two years from date of issue, with interest
Balance, surplus
Total surplus July 31...
$1,114,487
$9,681,613
$549,681
$8,567,125
$2,506,669
$8,017,444
♦
6% per annum, payable semi-annually.
1918-19, because of the increased cost of labor and materials and bea final settlement had not yet been effected with the Government
at the rate of
In
not exceeding 5,000 shares of Class L
of Maxwell and
companies shall acquire the minimum
table, there will be deliverable to such depositors substantially 3,160 shares
of Class A stock and 8,427 shares of Class B stock in excess of the number or
such shares which the syndicate is obligated to purchase.
To meet such
contingency to the extent required, the committee will sell additional
other investments
shrr
the new notes, and it Is anticipated
paid In full, and ether* will
On the terms herein stated, depositors of Maxwell and Chalmers stock art
given the opportunity to acquire for $15,000,000 all of the Class A and
Class B stock which the syndicate is obligated to purchase, receiving fot
$150 so invested 1H shares of Class A stock and 4 snares of Class B stock
Reduction
ihrt
Chicago
require adjustment or settlement.
Estimated ($15,000,000) Cash Requirements.
For cash payment to creditors of one-third of their claims, say..$7,647,09l
For adjustment with secured claims and release of collateral, mis¬
cellaneous settlements and payments, expenses and additional
working capital, say
;
7,353,0ft
An underwriting syndicate has been formed, of which Blair & Co., Inc.i
have consented to act as the managers, which has agreed to purchast
150,000 shares of Class A stock and 400,000 shares of Class B stock of thi
new
company for $15,000,000.
No commission or other compensatios
will be paid to the syndicate.
The managers of the syndicate for theh
services as such will be paid $250,000 as part of the expenses of the plan.
First pref.
»hri
and
that notes and claims small in amount will be
Second
shrt
do
Cleveland
.
Common dividends
shrt
Checks mailed
4,400,000 26,400 shares or 6 shares for $1,000 Chalmert
(no par) Com.399,364 sh. 39,937 shares or 1 share for 10 shares Ghalmeri
deposited notes and claims intereat
In determining the amount due on
will be figured tnereon to the date of
Inventories
shit
m
1H
__
♦Depreciation
Sinking fund...
stock and
'21
Chalmers
Preferred.
Gross income
200,609 ihr.
to acquire all or part
150,000
(б) To be used together with cash and 50,000 shares of Class B
stock in connection with acquisition of new management
3,000
(c) To be placed in the treasury except in so far as used for
the purposes of plan or towards defraying expenses
47,000
Class B {or Common) Stock of no par value.
Total authorized,
800,000 shares, viz.:
(a) Distributable to shareholders if participating in plan
170,179
(&) To be sold with 150,000 shares of Class A to underwriting
syndicate (or shareholders)
400,000
(c) To be used with cash and 3,000 shares of Class A stock In
connection with acquisition of new management
50,000
(d) To be placed in treasury except as may be required for
n
*19.
1
Dividends are Payable
_
Other income
(а) To be sold along with 400,000 shares of Class B stock to
underwriting syndicate, with right to assenting stockholders
the discretion
the committee
furposes of plan,ofexpenses, &c
2
Apr
Places Where Interest and
Treatment of Deposited Securities under the Plan.
Amount
Received in Exchange
Existing—
Outstanding.
Cash.
1 -Yr.Notes 2-Yr.Notes 3-Yr.Notes
(1) Unsec.claims$22,941,000 $7,647,000 $5,098,000 $5,098,000 $5,098,005
Per $9,000.
3,000
2,000
2,000
2,009
(esti-)
33 1-3%
22.22 + %
22.22 + % 22.22 + %
(Maxwell)
mated)
New Class B Stock of No Par Value
Stock of—
(Note also subscription rights described below.)
2) Maxwell
1st pref
13,133,342 65,667 shares or 5
shares for $1,000 MaxweK
2d pref
10,127,468 25,319 shares or 2M shares for $1,000 Marwel]
Common
12,855,158 12,856 shares or 1
shares for $1,000 Maxwell
Net, after taxes, &c
share or without
Preferred over
of liquidation
voluntary or involuntary) and as to non-cumulative divi¬
dends at rate of $8 per share per annum, with right to par¬
ticipate equally with the common stock, share for share, in
any further dividends declared in any year after $8 per share
has been paid in that year on both classes of stock.
Alse
possessing equal voting rights with Class B stock, share for
a
par value as the committee shall determine.
Class B as to assets of $100 a share (in case
Maturity
Jan
Q-J 15
1918-19.
Authorized Capital Stock of New Merger Comvant
Class A
and
Holders of
INC.—ORGANIZATION.—Incorp.
in
Delaware Dec. 31 1912 as successor after foreclosure (plan V. 95. p. 1044,
1335, 1626) of U. 8. Motor Co.
V. 90, p. 1177, 1494, 1618, 1682; state¬
ment Sept. 1910, V. 91, p. 868; V. 97, p. 1111.
On Sept. 1 1917 took
a 5-year lease of plant of Chalmers Motor Corp. (which see).
MOTOR
Last Dividend
Q—M
Sept 1 1921 2
20,000.000 See text
Oct 1 '21, IX
Q—J
6,250,000 7 in DJ20
M &
S Mar 2 '22-'33
6 g
1.480.000
100
500 &c
1913
REPORT.—For calendar year 1920. V.
Calendar
$5,885,700 See text
7
3.169,600
$50
197
BONDS
Bonds
[For abbreviations, &c.,
of assets
AND
ause
agents and accountants in regard to the 5-year lease of the Chalmers Motor
Corp. properties, it was deemed necessary to conserve the cash rasources of
the company and to discontinue the payment in scrip or otherwise of the
prof, dividends since Oct. 1 1918.
See merger plan V. 109, p. 978, 985,
1700. 2362.
Ledyard Mitchell. Detroit;
W. M. Anthony, Detroit: Comp.,
N. Y. headquarters. 1808 Broadway.
263, 567, 751, 938, 1150, 1622. 1872. 1983, 2089, 2197.)
OFFICERS.—Chairman and President. W.
V.-PvCarll Tucker, N. Y.; Treas.,
John Flint; Sec., L. W. Linaweaver,
—(V. 1<12,
'n
p.
MAY DEPARTMENT STORES CO.—ORGANIZATION.—Incorporated
New York on June 4 1910 and took over the Shoenberg Mercantile Co. o!
of Denver,
25 1911 ac¬
Wm. Banr
V. 92. p. 876; V. 100. p 2075.
In July 1912
business of M. O'Neil & Co. of Akron, O.—
foperatlng the "Famous"). May Shoe & Clothing Co.
Colo., and May Co. of Cleveland, O.
V. 90. p. 1617
On Feb.
quired entire stock ($1,000,000 each of common and pref.) of
St. Louis
Dry Goods Co. of St. Louis.
purchased department store
*ee below.
V. 94, p. 1569: V. 95. p. 484.
Owns stock of May Building Co. (Cleveland) and leases property for 30
years, rental providing for Interest and principal of $2,000,000 6% serial
bonds, maturing $60,000 yearly In 1915 and 1916. then $80,000 yearlyto
1922. $90,000 in 1923 and 1924. $100,000 In 1925 to 1927. $120 000 In 1928.
and 1929. $140,000 in 1930 and 1931 and $200,000 in 1932 and 1933.
198
[Vol. 112.
STOCKS AND BONDS
INDUSTRIAL
t
Dale
Par
Amount
Rate
When
Last Dividend
Bonds
Value
Outstanding
%
Payable
and Maturity
MISCELLANEOUS COMPANIES
[For abbreviations, &c.,
see
notes on page 6]
Places Where Interest and
Dividends are Payable
-
./
■■
.i
'
'
.
y y
i
ins
None
100 &c
100
100
Bonds red. at 103 on any Int. day beginning Mar. 1 1918.MV. 97, p.
V. 98, p. 993.
Purchase money mortgage Jan. 31 1921,1244,500.
54.
STOCK.—As to stock provisions, see V. 94, p. 1569, 1768; V. 95, p. 484
Pref. stock Issued $8,250,000; retired by s. fd. to Jan. 1921, $2,000,000The stockholders on June 10 1920 authorized an Increase In the common
stock from $15,000,000 to $20,000,000.
V. 110, p. 2081, 2197, 2492.
/'12. '13. 1914. '16.
%U*A
5
2H
5
'16. '17. '18.
5
2H
7X
6
text
REPORT.—For year ending Jan. 31 1921, in V.
Years—
1920-21.
1919-20.
112, p. 1395, showed:
1918-19.
1917-18.
$35,631,660
4,387,859
3,858,310
1,600,000
850,000
equal voting power.
Y, 109, p. 482.
8% p. a. (2% Q.-J.).
6,029,675
Federal taxes
1,400,000
7,848,104
2,400,000
1,250,000
459,638
(6)900,000
Shrinkage in inventories
Preferred dividends (7%)
437,500
Common dividends..(7^)1,362,166
Balance, surplus
Pres., Morton J.
1395, 1622.)
477,881
(5)750,000
499,538
(5)750,000
$2,830,009
$2,838,466
$1,559,978 $1,758,772
May.
N. Y. office, 128 Broadway.—(V. 112, p.
^MERCANTILE STORES CO., INC., NEW YORK CITY.—ORGAN.
—Incorporated in Delaware in Jan. 1919 per plan in V. 107, p. 2480, as
successor of Mercantile Stores Corp.. which in turn was formed in accord¬
ance with the plan of Sept. 25 1914 for the reorganization of the dry goods
house of H. B. Claflin Co. (V. 99, p. 971, 967, 1302, 1454).
Owns capital
stock of the stores mentioned in table below,
NEW SECURITIES.—The plan of Dec. 18 1918
(V. 107, p. 2480), was
formulated to put the several properties on a permanent basis by exchanging
Collateral notes of the several series, all due Dec. 1 1919, for stock aad
York
Divs. on pref. are being paid at the
REPORT.—For cal. year 1920, in V. 112, p. 1405, 2197,
profits
deprec.,
after
showed:
Net
$323,561; other income, $17,216; pref. divs. (8%),
$280,000; other deductions, $66,908; bal., def., $6,131.
Pres., George Merck. N.Y. office, 45 Park Place.—(V. 112, p. 1405,2197.)
MERQENTHALER LINOTYPE CO.—Owns plant at Brooklyn, N. Y.
British
controls
and
Setzmaschinen
Linotype
Fabrik.
&
Machinery.
V. 88, p. 509, 567.
Ltd.,
948, 689.
and
Mergenthalet
Decisions, V. 100,
58. 234; V. 104, p. 1149.
p.
DIVS.
Per
J'97. *9c-'00. '01. *02-'13. *14. '15. *16.
cent.\16H 20y'ly 13H 15y'ly 14J4 10 12H
March 31, 2^: June 30, 2M-
1917. '18.
*19. '20. '21.
12M 12>*
10
In 1921:
_$68,254,715 $57,962,444 $41,179,261
Net profits
New
f
1921, 2% Lawyers T & Tr Co. N Y
June 30 '21 2 H 29 Ryerson St., Bklyn
Apr 11 '21
3% Los Angeles, Cal.
Apr 1 21 2% Los Angeles, Cal
May 1 1936
Apr
rate of
'19. '20. *21.
5
Shareholders of record June 25 1920 received a stock dividend of 33 1-3%.
Paid in 1921; March 1, 2%; June 1, 2%; Sept. 1, 2%.
Jan. 31
Net sales
i
100
mi
New
J & D31 Dec 31 1933
40,000 shs.
8%
$3,500,000
Q—M
12,800.000 10 in '20
44,909.000 See text
Q—M
8
12,000.000
Q—J
M &
N
8 g
10,000,000
100
rnmmm
5 g
See text
$100 &c
.
DIVIDENDS on
Common stock
See text
100
Mercantile Stores Co.* Inc—Stock $5,400,000
Debenture bonds $5,400,000 g call par; s f
Ba.c*
Merck & Co—Common stock 40.000 shares
Pref (a Sc d) stock 8% cum $3,500,000 call 115
Mergenthaler Linotvoe—Stock authorized $15,000,000
Mexican Petroleum Co., Ltd.—common stock, $48,000,000Pref (a & d) 8% non-cum $12,000.000
Convertible s f gold bonds guar red (text)
C.xxxxc
Underlying bonds, see text
10 text
•
REPORT.—For year ended Sept.
30 1920 in V. Ill, p. 2137, showed:
Sept. 30 Years—
1919-20.
1918-19.
1917-18.
1916-17.
Net, after depreciation.. $2,430,731
$1,663,138
$1,343,545
$1,883,159
Dividends (about)
1,280,000
1,280,000
1,600,000
1,600,000
Rate per cent
(10%)
(10%)
(12^%)
(12H%)
Pres., Philip T. Dodge; Sec. & Treas., Jos. T. Mackey.
Office, 29 Ryerson St., Brooklyn, N. Y.—(V. Ill, p. 2048, 2137, 2224; Y. 112, p. 264.)
METROPOLITAN EDISON CO.—Supplies electricity for light and
system which centres around Reading and Lebanon, Pa.
Total
population served about 250,000, including over 24 communities.
Owned by
Capitalization—
Authorized. Outstanding. Q.G.&El.Co.
Common stock.
$3,000,000
$3,000,000
$3,000,000
power to a
Preferred
5,000,000
stock
10,000,000
1st & Ref. Mtge. 5s 1922
Ref. & Impt. 8s, 1935
—
-
Closed
Office.—Reading, Pa.—(V. 112, p. 1522.)
Metrop. Elec. 1st M. 5s 1939
2,500,000
4,950.000
1,000,000
'
2,614,500
bonds
(H each) in amounts together aggregating the valuation of the assets
pledged to said series by the collateral trust agreement of 1914, as below
shown.
In Nov. 1919 a very large proportion of the notes had assented to
the plan, but the transfer of assets was awaiting further assents.
V.
109, p. lV98.
The new company Is authorized to Issue under the plan $5,400,000 5% 15
debenture bonds dated Dec. 31 1918, Bankers Trust Co. of N. Y.
trustee.
M nimum sinking fund beginning in 1919, 66 2-3% of the net
earnings of each fiscal year after deducting interest, setting up necessary
reserves, See.
It is contemplated to retire the bonds either through call for
tenders, purchase at public or private sale below par or by lot at par to
extent of available funds.
To secure continuity in the management a fiveyear voting trust for the stock has been created,andjthe five men previously
composing the board of trustees consented to serve as the members thereof,
namely James S. Alexander, Pres. Nat. Bank of Commerce, N. Y.; Ernest A.
Hamill, Pres. Corn Exchange Nat
Bank. Chicago; John W. T
Nichols,
of Mlnot, Hooper & Co., N. Y.; Philip Stockton, Pres. Old Colony Trust
Co., Boston, and Henry W. Howe, of Lawrence Sc Co., Boston and N. Y.
year
Basis of Exchange of Notes of Old Mercantile Store Corporation
Valuation of Collateral—Original Face of Notes and Percentage on Same Now
to be Represented by New Securities (Stock and Bonds in Equal Amounts).
(Amounts
so
Collateral
Issuable and sums paid in cash inserted by Editor.)
No.
Valuation.
Ser.
Notes,
Princ'l Paid
Original Ami. to Dec.ZO '18.
Claflin, N. Y $6,713,244
$2,807,274
2 Batte'n.Bkln
814.950
195,588
3 Bacon,Louisv
1,985,674
891,194
4 Bedford, Br.
1,072,078
289,461
5 Castner.Nash
664,747
235,539
6 Connell.Butte 1,000,942
349,272
7 Defender.NY
1,206,856
860,609
8 Fair. Cincinn
1,641,723
370,013
9 HensyJButte
1,612,331
536,100
10 Jones, Kan O
521,545
521,545
11 Joslin, Denver
586,240
488,199
12 Kline,Alt'na
1,275,617
395,897
13 Lion, Toledo
797,835
1,744,636
14L&G. Read.
1,161,313
342,587
15 MacD,Seattle
1,642.510
494,203
16 McAlpin.Cin
99,398
843,820
17 Montg'y Fair
1.095,1)73
400,187
18 Peoples.Tac'a
729.464
1,647,812
19 Root, Ter. H
1,168,625
310,470
20 Springs, GrR
1,053,714
492,611
21 Watldns
1,107.972
340,147
22 Watt,Norfolk
1,092,907
409,429
23 White,Au'sta
1,473,031
453.527
24 White h'e.Spo
846,874
218,249
1
a
$366,593
511.646
a
523,986
559,744
a
196,681
1,431,869
Free asset
522,166
157,731
802,540
a
602,411
282,522
354,705
294,440
245,201
a
426,874
196,707
384,047
120,996
2,819,141
Plan Offered-
P. Ct,
10.05
65.03
35.81
10.05
92.71
65.97
10.05
22.80
83.19
62.68
22.41
56.05
10.05
46.72
43.53
42.42
27.92
31.03
10.05
48.57
28.05
36.12
24.33
448.460
711,070
107,744
523,577
660,321
121.289
351,513
1,341,296
None
367,455
285,866
977,868
116,712
767.381
367.315
464.742
460,069
362,624
105,898
638,142
306,561
632.059
206,044
Free assets..
$10,800,000
Total
$33,774,736 $13,028,197
about $10,800,000
Wholesale house sold in 1917.
On Dec. 31 1919 the company bid in at auction all the properties of the:
Mercantile Stores Corp. for a total of $9,385,025.
a
REPORT.—Statement
store.
V.
105.
p.
of
Oct.
1917
with
financial
report
for
eacb
1895.
OFFICERS.—President, Alexander New; Secretary. Charles H. Low.
N. Y. office, 220 5th Ave.—(V. 112, p. 1522.)
MERCER MOTORS CO.—(V. Ill,
MERCK
&
p.
185, 1477, 1753. 1858).
CO.—ORGANIZATION.—Incorporated in New York
1908 (recapitalized in Aug. 1919).
Principal plant at Rahway, N. J.,
in
occu-
J)ies 35 acres and a photographic, technical and household
Business, fine chemcals for medicinal, small plant at Midland, Mich.
standard
uses;
lzed reagent chemicals and disinfectants, being among the largest producers
of chloral hydrate, iodine preparations, bismuth preparations, acetanilid
salicylic acid, methyl salicylate (artificial oil of wintergreen), and other
salicylates, important alkaloids, as well as other articles and, in addition
having exclusive agencies for some of the most important articles along these
lines.
V. 109, p. 482.
STOCK.—Preferred stock, authorized and issued, $3,500,000 8% cum.
Common, 40,000 shares, no par value.
Pref. stock is callable at 115 at
any time all or in part.
Beginning July 1 1921 3% of the largest amount
of pref. stock outstanding must be retired annually at not above 115 out
of surplus profits after divs. on pref. stock.
No mtge. without consent of
75% of each class of stock given separately.
Both classes of stock have
MEXICAN PETROLEUM CO., LTD., OF DEL.—ORGANIZATION.
Ac.—Incorp. In Del.Feb. 16 1907. Holds 99% of outstanding stock of Mex¬
ico Petroleum Co. (Calif.) and entire stock of Huasteca Petroleum Co.,
Tamlahua Petroleum Co. and Tuxpam Petroleum Co.
Properties.—Some of the principal properties owned by the company
through its subsidiaries may be briefly described as follows: (1) Holdings and
interests in lands aggregating approximately 1,500,000 acres, composed of
72 tracts located throughout the Mexican Gulf Coast region; (2) pipe lines
capacity (in April 1921) of 125,000 bbls. daily, which, upon comple¬
(3) refinery at
with
a
tion
of construction under way, will be largely increased;
Tampico with a daily capacity in excess of 100,000 bbls. and one at Destrehan (New Orleans) with a daily capacity of 25,000 bbls.
(4) Storage tanks
in Mexico and U. S. aggregating 10,000,000 bbls. capacity; (5) distributing
stations at or adjacent to Portland, Me., Boston, Providence, New York,
Norfolk, Jacksonville, Tampa, New Orleans, Galveston and Panama Canal.
In June 1916 the Pan-American Petroleum & Transport Co. (which see)
acquired control, owning in April 1921 $9,035,000 pref. and $31,461,000
common, being over 71% of the total outstanding capital stock.
New Mexican oil tax in April 1918, V. 106, p. 1465, 2295.
Fuel oil
contract, V. 109, p. 1466.
The British Mexican Petroleum Co. was Incorporated in England In
July 1919 with a paid-up initial capital of £2,0(K),000, one-half of which was
subscribed by British interests and the other half by the Pan-American com¬
pany, to market Mexican Petroleum oil and gasoline in the Eastern Hemi¬
sphere and to own a fleet of tankers and tank farms for the bunkering of
ships with fuel oil. Proposes also to erect refineries to handle crude oil from
the Mexican Petroleum Co.
The contract with the Mexican Petroleum Co.
runs for 20 years and requires an annual purchase from the Mexican Pe¬
troleum Co. of several million barrels of oil and gasoline. V. 109, p. 373.
,
,
STOCK.—In Nov. 1919 the Pan-American Petroleum Sc Transport Co.,
offered from Nov. 5 to 25, to give two $50 shares of its non-voting
Class B
stock for each $100 share of its outstanding common.
V. 109,
1703, 1992.
The offer to exchange was renewed in Dec. 1920.
V. Ill,
p. 2331.
DIVIDENDS.—On common, 1%, 1910 and 1911; 1912, 3%: 1913, 4%;
then none till Oct. 15 1917,1H %j Jan. 1918,1)4%; April 1918 to July 1919
(quar.). 2%, half in Liberty bonds.
In Oct. 1919 paid 2% and in Jan. and
Apr. 1920 paid 2_H% each.
In July 1920 paid 2)4% cash and 10% in
common stock.
In Oct. 1920 and Jan., and Apr. 1921, paid 3%.
Dividends on pref. stock were resumed Apr. 1 1916, 2% being paid quar¬
terly (8% p. a.) thereafter till and including Apr. 1 1921.
BONDS.—The convert. 8% s. f. gold bonds are guaranteed prin. & int.
by Pan-Amer. Petroleum & Transport Co. and are redeemable as a whole
only at 107 H and int., if redeemed on or before May 1 1929. and thereafter
at 107)4 and int. less 1% for each year or part thereof elapsed after May 1
1929.
Convertible until May 1 1931 into Class "B" common stock of Pan
American Petroleum & Transport Co. at $100 per share (par $50), with pro¬
vision for a reduction in the conversionprice (subject to certain exceptions) if
additional common stock or Class "B" common stock shall be issued or
sold at prices lower than $100 per share.
V. 112, p. 1622, 1746.
Underlying bonds: Huasteca Petroleum 20-year Coast Pipe Line 6s due
July 1 1929 and Joint 20-year Huasteca Petroleum and Mexican Petroleum,
Ltd., of Dei., 6s, due Apr. 1 1928, and Mexican Petrloeum Co. (Cal.) S. F.
6s. due 1930 (of which only $665,500. $263,000 and $80,500. respectively.
In tne hands of the public, the remainder being held by the consolidated
cos.), and the balance for not over five-sixths of the cost of acquisitions and
capital expenditures.
Each series has a sinking fund.
common
p.
1
REPORT.—For calendar year 1920, in V. 112, p. 1864,1972,
Combined Income Account for Years Ending Dec. 31
1920.
bl918.
1917.
Total net income
Bond interest
Amortization
Bond discount &
Balance
Inc. & excess
a$ll,860,487.$12,146.282
608,460
$11,672,648 $11,699,444
1,898,749
5,000,000
$5,607,020
]
f
190,839
exp__J
-
profits tax_
$6,215,480
125,668
260,293
60,877
_
1916.
$7,408,812
255,752
$7,153,059
621,000
$6,699,444
$4,986,020
$9,773,899
Preferred dividends (8%)
jrTeierrea aiviueuus ^oypj
960,000
960,000
960,000
Common dividend8_x(8%)8,817,939 (8)3,168,008 (3)1,180,263
Balance
showed;
$7,153,059
960,000
Balance, surplus
def$4,040
$2,571,436 $2,845,757 $6,193,059
a After deducting $30,606,246 for depreciation,
b No report was issued
for 1919, but the bond offering in V. 112, p. 1746, shows that the total net
income for that year was $8,210,379 and net, after interest and Federal
taxes, was $6,980,440.
x Dividends for 1920 were paid in cash, $4,735,299,
and $4,082,640 in common stock.
May, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
[For abbreviations, Ac., see notes on first page.]
STOCKS AND BONDS
Date
Bonds
Mexican Telegraph Co—Stock authorized $5,000.000
Miami Copper Co—Capital stock $4.000.000
Mich State Telep—Common stock
Pref 6% cu (a & d) $4,000,000 red any Feb I
Mlohigan State Telephone 1st mtge $10,000,000 g..OBxc*
Detroit River Telephone Co 1st M
Real estate mortgage notes
Middle States Oil Corp—Stock $16,000,000
Middle West Utilities Co—Common stock $200,000 shares
Preferred stock $20,000,000 auth
Prior lien stock $20,000,000 auth
Collateral bonds gold red text__
ICxc*
Collateral gold notes 8er E see text call 100
xxIC.c*
Par
Value
do
do
Ser F
do
xxxIC
5-yr 7% Convert Gold Notes (auth $2,500,000) call
c*
Secured gold notes Ser A red text $5.000,000
Baxxxc*
do
do
Ser B red (text) $2,500,000. Ba.xxxc*
Mldvale Steel & Ord Co—Stock $150,000,000 (V 102 p 71oj
Collateral Trust conv s fd bonds, call, at 105 (text) Qc*8cr*
Bonds of Subsidiaries—
Union Coal 8c Coke 30-yr s fd bds call 105
UP
Pitta 8c Weetm Coal Co $2,500,000 20-yr (closed
mtge)_QP
Pltte-Westmore Coal $6,000,000 1st mtge bonds
SP
Manufacturers Water Co $4,000,000 1st M s fd bonds._QP
Johnstown Water Co $1,500,000 1st mtge s fd bonds
Beaver SS Co 1st M due Dec 1 1918 to *20 $13,000; 1921
to
1927 $28,000: 1928, $30,000, call 102
QP.c
Johnstown SS Co $1,300,000 bonds due $130,000 p a
QP
z On Sept. 301920 $42,479,500 was outstanding,
excluding
to
1904
1910
100
100
1915
1918
1919
1919
&c
&c
-
(10%)
&c
1916
1905
1907
287,110
579,812
638,760
1920
Copper sold (lbs.)
1917
56,553,*089 56,435,649 58,841,370 44,208,061
$9,869,519 $10,533,737 $14,446,704 $10,673,409
$2,888,479
$1,494,856
$5,262,419
$4,952,137
(40 %) 1,494,228 (50) 1867,785 (90) 3 362,013 (170) 6537 247
*14. '15. *16. '17. *18. '19. '20/21.
30
45 115 170
90
50 40 text
Feb., 10%;May, 10%.
Also in Aug. 1917 5% optionally applicable to Red Cross and Army and
Navy branch of Y. M. O. A. V. 108, p. 1515; V. 104, p. 2557.
Pres., Adolph Lewisohn; Sec., Herman Cook; Treas., Sam A. Lewisohn.
Office, 61 Broadway, N. Y.—(V. 112, p. 167, 658, 1288, 1522, 1746.)
In 1921:
MICHIGAN STATE TELEPHONE CO.—ORGANIZATION.—Incor¬
porated in Michigan Jan. 30 1904 (V. 75, p. 33, 1034).
In Dec. 1919 Am.
Telep. & Teleg. Co. owned $1,936,500 pref. and $5,997,400 common stock.
V. 91, p. 218; V. 95, p. 484, 622; V. 96, p. 949; V. 97, p. 179, 369.
Divs. on
preferred stock were discontinued in Dec. 1919 because of poor earnings and
pending the outcome of the company's application for Increased rates.
No dividend on common stock since 1914.
Rates in 1918. V. 107, p.
506, 2193
2293.
,
BONDS.—See V. 86. p. 921, 1103; V. 88, p. 380, 1005; V. 92, p. 600.
OFFICERS.—Pres., Franz C. Kuhn; V.-P., Dudley E. Waters; V.-P)
George M. Welch; Sec. & Treas., W. I. Mizner; Gen. Aud.,
Office, Detroit.—(V. 110,
p.
&
1 1921
M":&""S
Checks
New
mailed
York
and
Chicago
do
do
do
do
do
do
do
do
do
do
1%
Mar 1 1936
Nov 1 1946
Nov 1 1925
J
5*
HarrisForbes&Co.NY&B
Detroit Trust Ce,Detroit
J Jan 11925
S Sept 1 1921
S Mar 1 1922
S Mar 1 1924
S Sept 11935
D Dec 1 1940
Feb
New York
May 1 1947
June 1 1939
Mar 1 1929
M
5
226,000
910,000
8c
D Dec 1921-28
Dec '21-Dec '27
d$2,464,5 55
an
&
&
lM
M
lJ
441,000
treasury
J
g
82.)
redee med.
Citizens Gas Lt. Co.
(10) Virginia.—Electric Transmission Co. of Vir¬
ginia (V. 102, p. 254, 440).
(11) Wisconsin.—Southern Wise. Elec. Co.
(V. 104, p. 1050; North West Util. Co. (V. 108, p. 385, 2525.)
As to offering of bonds of Central Power Co. of Delaw. in
Aug. 1919.
see V. 109, p. 479.
In i917 acquired Amer Pub. Serv. Co., &c.
See V. 106, p. 2646.
The stockholders Voted June 15 1920 to merge and consolidate the Middle
West Securities Co. into the Middle West Utilities Co.
The new company
Issued stock
as
shown in table at head of page.
Compare V. 110, p. 2076,
2192.
DIVIDENDS.—Divs. on pref., Sept. 1912 to Jun^ 1918, 1H% Q.-M.
The June 1 1918 pref. dividend was
paid in 10-yr. 6% div. certs, subject
to call by the company and convertible at
option of holders into stock of
either class; none paid thereafter until May 14 1921, when 1*3% was paid;
V. 107, p. 909.
See V. 106, p. 2123.
In January 1917 declared an ini¬
tial cash dividend of 2%
on common stock, payable in quarterly install¬
*3 of 1%, beginning April 2, and a stock.dividend of 2%, payable
1% semi-annually in April and Oct. 1917; April 1918, *4 of 1% cash and
1 % stock div.; none since on the com. stock.
V. 106, p. 2646; V. 108, p.
ments of
2525.
BONDS.—The 10-yr. 6% collat. bonds of 1915 have (a) their Issue limited
to 75% of the
company's capital stock at any time outstanding; (b) are se¬
cured by bonds of subsidiary cos. in such amounts that the principal and int.
of pledged bonds shall always be at least equal to the principal amount of
collat. bonds outstanding plus interest; (c) are redeemable at 102*3 on int.
dates to Apr. 1 1922 and at 101>3 thereafter.
The subsidiary companies in most cases have bonds in hands of public.
NOTES.—The collateral notes
are
restricted to 40% of the amount of
gref. stock at any trust outstanding and are toof public service corporations
onds, collateral time notes and debentures be secured by pledge of mtge.
equal to 120% of all the notes outstanding, the mtge. bonds
pledged to equal at least the amount of the notes and further secured by
on all collateral covered by the bonds of 1915.
All series are
equally secured, but each will mature three years after the date thereof.
In May 1920 there were two Series (E and F) unmatured, as per table at
head of page.
V. 105, p. 499, 1313; V. 106, p. 2646.
The $2,500,000
convertible notes of 1919 as issued are secured by pledge of 30% in the com¬
pany's common stock of Middle West Utilities Co., and 120% in pref. stock
of various subsidiaries.
V. 108, p. 1613, 2525.
The Ser. A secured 8% notes are redeemable, all or part, at any time after
Sept. 1 1925 at 105 and int., during the 12 months ending Sept. 1 1926,
and decreasing *3 of 1% In each year thereafter.
Secured by pledge of
mtge. bonds on properties of subsidiary companies owned or controlled.
V. Ill, p. 1566.
The Ser. B secured 8% notes are redeemable, all or part, after Nov. 30
1925, at 107*3 and int. to Nov. 30 1930, at 105 to Nov. 30 1935, at 102*4
to Nov. 30 1936, and reducing *4 of 1% each year thereafter to 100*4
during the 12 months ending Nov. 30 1940.
A sinking fund is provided
with semi-annual payments (J. & D.) of $25,000 each.
Secured by pledge
of mtge. bonds on properties of subsidiary companies owned or controlled.
V. 112, p. 62.
On Dec. 31 1920 there were outstanding $2,105,473 collateral loans and
$836,784 deferred payments on purchase contracts.
a
second lien
REPORT.—For 8 mos. ending Dec. 31 1920, in V. 112, p. 1405
sub. co. chaiges, &c., paid outside holders):
1920 (8 mos.)
Gross earnings
$15,919,664
Net, after expenses, &c.
3,918,217
Int. on coll. notes, bds.,&c
1,839,817
(showin*
Subsidiary Companies
——
1919-20.
1918-19.
1917-18.
$19,362,674 $14,641,035 $12,157,122
5,131,766
3,448,098
3,882,342
1,715,190
2,410,572
1,983,174
85,017
77,167
142,439
389,971
400,882
420,478
MIDDLE STATES OIL CORP.—ORGANIZATION.—Incorp. in Del.
Feb. 24 1917.
A holding company.
Owns entire issued stocks of the
following companies: Number One Oil Co., $200,000; Number Seventy-seven
Oil Co., $200,000; Peters Oil Co., $2,000,000; Corona Oil Co., $4,000,000;
and over 86% of Ranger Texas Oil Co., 84% of Dominion Oil Co., and
93.5% of Texas Chief Oil Co.
Subsidiary companies reported to have a
daily settled production of over 6,900 bbls.
Producing wells, 180; gas wells,
7; wells drilling, 27.
Royalty deal closed.
V. 110, p. 172.
Preferred
STOCK.—The stockholders on Sept. 20 1920 authorized an increase in
the capital stock from $8,000,000 to $16,000,000.
V. Ill, p. 1284.
Stockholders of record Jan. 18 1921 were given the right to subscribe on
or before Feb. 1 1921 at $11
per share for 250,000 shares of capital stock (par
DIRECTORS.—Samuel Insull (Pres.), Martin J. Insull and John F.
Gilchrist (VIce-Prests.), Frank J. Baker, Edward J. Doyle, Louis A.
Ferguson. Wm. A. Fox, John H. Gulick.W. S. Brewster, L. E. Myers,
$10), being at the rate of one share of new stock for each four shares held.
V. 112, p. 264.
DIVIDENDS.—Cash dividends were paid each month since Nov. 1
1917 as follows:
From Nov. 1 1917 to March 1 1918, both incl., ** of 1%
monthly from April 1 1918 to April 1 1920, 1% monthly; on July 1 and Oct.
1 1920 paid 4% quar.
On Jan 1, Apr 1 and July 1 1921 paid 3% quar. and
1 % extra.
In addition seven stock dividends aggregating 120% have been
paid/viz.: Aug. 1 1918, 4%; Nov. 1 8%; Feb. 1 1991, 8%; May 1, Sept. 1,
Dec. 1 1919, 10% each; Mar. 1 1920, 20%; July 10 1920, 50%.
V. 109,
p. 1705.
CONSOLIDATED INCOME ACCOUNT.—For year ended Dec. 31
1920, in V. 112, p. 476, showed: Gross income, $8,752,375; divs. received,
$999,710; deductions, $1,788,355; reserves, inch Fed. taxes, $300,000; divs.
paid, $2,576,030; net profits, $5,087,700.
DIRECTORS.—C. N.
W.
L.
Walker
Haskill
(V.-P ), H. G.
(Chairman), P. D. Saklatvata (Pres.),
Baker, I. M. Putnam, William Murdock,
Norman G. Pearsall (V.-P. and Asst.
William Rosenfeld, E. S. Lawrence,
Sec.), New York; Scott Ferris, Lawton, Okla.; C. J. Haskill (V.-P.),
Tulsa, Okla.; W. E. Holloway, Yonkers, N. Y.; H. S. Bettes, Paris, Texas;
C.
B. Peters, Pawhuska, Okla.
Office, 347 Madison Ave., N. Y.—
(V. 112,
p.
567, 854, 939, 1288, 1623, 1983, 2197.)
WEST UTILITIES CO.—A holding company
by the Insull interests of Chicago in Delaware May 1912.
MIDDLE
incorporated
Subsidiary Operating Companies (compare "Electric Ry. Section" and V.
106. p. 2646; V. 108, p. 2525).—(1) Illinois.—Central 111. Pub. Serv. Co.;
Sterling Dixon & Eastern Elec. Ry.; 111. North. Util. Co. (V. 103, p. 496);
McHenry County Lt. & Pow. Co.
(2) Indiana.—Inter-State Pub. Serv.
Co. (V. 94, p. 1157, 1701), Indianapolis & Louisville Traction Ry. Co.;
Southern Ind. Pow. Co. (V. 100, p. 2006); United Gas 8c Elec. Co., New
Albany Water-Works, Louisville & Northern Ry. 8c Ltg. Co. Louisville &
South. Ind. Trac. Co.; Central Ind. Ltg. Co.
(3) Kentucky.—Kentucky
Util Co.;
Kentucky Lt. 8c Pow. Co. (V. 104, p. 2010).
(4) Michigan.—
Michigan Gas & Elec. Co. (V. 104, p. 950);
(5) Missouri.—Missouri Gas
(6) Nebraska.—Nebraska City Util. Co.; Central Pow.
Co. (V. 109, p. 479);
(7) New England.—Twin State Gas 8c Elec. Co.
(V. 109, p. 79); Berwick 8c Salmon Falls Elec. Co.
(8) Oklahoma.—Public
Serv. Co. of Okla. (V- 101. 0. 923)" Chickasha Gas & Elec. Co. (V. 101, p.
532); Amer. Pub. Serv. Co. (of Okla. and Texas).
(9) Tennessee.—
8c Elec. 8erv. Co.
<
Checks mailed
so
1918
Dividends—
'12. '13.
Percent (see V. 105. p. 2099)— 30
40
& Gen. Mgr.,
H. J. Booth.
Dividends are Payable
Office. 89 Broad st. N Y
to an amount
1920:
1919
Total sales.
Balance for dividends...
Dividends
Places Where Interest and
See text
M
2,928,000
2,804.000
690.000
1916
1916
$1.67 5,000 in
&
M
§ g
8
3.104,000
1909
1909
499,520
(10%) 464,370
(10%) 358,940
.
&
M
1916
MIAMI COPPER CO.—ORGANIZATION.—Incorp. Nov. 29 1907 in
Delaware.
Property totals 1,222 acres near Globe, Ariz.
Decision, V. 105,
1109, 1214; V. Ill, p. 2430.
REPORT.—For fiscal year ended Dec. 31
?8
$50 100.000,000 See
text
500 &c z42.479.500
5 g
100 Sec
&
M
M
100
Chairman, E. L. Baylies; Pres., John L. Merrill; V.-Pres. Se Sec., J. R.
Beard, 89 Broad St., N. Y.—(V. 109, p. 1084,1371. 2444; V. 110, p. 1093.)
p.
J
II
1920
1920
REPORT.—Fof 1919 (11 mos.), V. 110, p. 1093:
1
Gross.
Net.
War Tax.
Dividends.
Bal., Sur.
1919 (11 mos.)..$1,529,929 $1,334,516 $234,167 (10%)$374,640 $725,708
1,522,910
974,002
187,372
year
1,492,526
1,220,814
176,631
year
1,412.836
997.700
Total surplus Nov. 30 1919, $4,482,577.
4,000,000
9,336.500
800,000
300.000
2,496.000
2,500,000
2,134.000
100 Sec
100 See
100
100
Q—J
Q—F
Last Dividend
and Maturity
3.735.570 40 In '20
May 16 '21 10%
6.000.000
Sept
1914
1H
4.000,000 See text
Sept 30 '19 1H
F
&
A Feb 1 1924
9.715.000
M
&
S Sept 1 1930
52.000
214,600
14,750.000 See text
Q—J
July 11921 4%
text
text
124,981 See
See text
text
15,564.720 See text
See text
10
None
1886, lncl., 8%
year
$4,995,200
10
500 &c
yearly; from 1887 to July
1920, both lncl., at rate of 10% per annum (2H% Q.-J.); also June 1 190b,
50%, and June 1 1909, 25% In stock; April 11917, 39% in stock. Increasing
the outstanding stock to $4,995,200.
v. 106. p. 91.
See full statement,
V.104,p. 568,1049; V. 83. p. 1104.2627.
;
1918,
1917,
1916,
Payable
5
MEXICAN TELEGRAPH COMPANY.—Organized in 1878 under laws
of N. Y. State.
Owns 3 cables in the Gulf of Mexico, from Galveston
Texas, to Vera Cruz, Mexico, comprising about 2,100 miles of lines.
It also
owns a one-third Interest in two cables from New York to
Colon, Isthmus of
Panama, 1.476 miles, and a land line from Vera Cruz to the City of Mex¬
ico, 267 miles.
Owns 9.531 shares of All America Cables, Inc. (formerly
Cent. 8c So. Amer. Tel. Co.), which see.
In Aug 1919 the last-named
company offered $180 of its own stock for each $100 share of this company
and in Feb. 1920 had acquired all except $84,200.
V. 109, p. 1084.
1882
When
%
100
100
OFFICERS.—Pres., E. L. Doheny; V.-Ps., C. E. Harwood, H. G. Wylie,
Norman Bridge (& Asst. Sec.); J. M. Danziger, J. S. Wood, Franklin K
Lane; E. L. Doheny Jr. (& Treas.); Sec., O. D. Bennett.
Office, Los
A ngeles, Calif.—(V. 112, p. 1512, 1622, 1746, 1864,
1972, 2089.)
DIVIDENDS.—In
Rate
$100
*
do
Amount
Outstanding
199
Discount
securities.
on
dividends
Common divs. (cash)_
Balance,
M.
W.
accruing
U.
106,260
343,160
_
1
_
J
to
Co
$1,628,980
$1,393,672
$2,177,873
$1,265,770
O. A. Munroe, Brltton I. Budd, Edward P. Russell, Marshall E. Sampsell
and E. W. Lloyd.
Oliver E. McCormick is Treas.—(V. 112, p. 62, 1024.
1405,
1873.)
MIDVALE
STEEL
CO.—Incorporated In Delaware
1192, 1276) with $100,000,000 of auth. capital,
and took over 99% of the $9,750,000 capital
stock of the Mldvale 8teel Co. (V. 101, p. 1095). the entire share capital
of Remington Arms Co. and Worth Bros. Co., all of the properties of Goateavllle Rolling Mills (operated by the Worth Bros. Co.). and all of the capital
stock of the Buena Vista Iron Co., owning extensive Iron ore properties in
Cuba. In Feb. 1916 had stee! capacity of 2.840,000 gross tons per ann. See
V. 105, p. 604.
Plants, see V. 104, p. 1142; V. 105, p. 604.
In Nov. 1917
title was taken to the properties of tne Mldvale Steel Co., Worth Bros. Co.
and the Wilmington Steel Co.
Owns and controls 69 open-hearth furnaces,
2 crucible furnaces, 14 blast furnaces, &c.
Munitions, V. 109, p. 77.
On Nov. 18 1916 acquired all of the stock of the Union Coal & Coke Co..
with mines at Marianna. Pa., covering about 5,200 acres of coking coal
and in Jan. 1917. the adjoining 15,000 acres owned by the Pitts .-West more.
Coal Co.
V. 104, p. 76, 1142: V. 105, p. 604.
Buena Vista Iron Co.,
Cuba, V. 105, p. 604. Consolidated Steel Corp. V. 107, p. 2480.
In Feb. 1916 the company acquired (see V. 102, p. 613) at $81 a share
(par $50) 97% of the $457000,000 stock of Cambria Steel Co. (which see).
During 1919 purchased a substantial interest in the Mesabi Iron Co.
on
all
&
ORDNANCE
Oct. 5 1915 (V. 101, p.
of one class (par $50).
STOCK.—Total authorized. $150,000,000; issued, $100,000,000 (V.
p.
1268); unissued, $50,000,000, of which $23,767,750
reserved for bond conversion
sub.
privilege.
V. 102,
p.
not owned Dec. 31
on
715.
Dec. 31 1920
104.'
was
Capital stock of
1920, $2,133,450.
DIVIDENDS.—Feb. 1 1917 to Feb. 1 1919, inch. 12% p. a. (3% Q.-FO.
May 1919 to Nov. 1920 paid $1 (2%) quar.
Feb. 1921 paid 50 cents (1%)
quar.
May 1921 div. omitted.
V. 112, p. 1522.
BONDS.—The bonds of 1916, $50,000,000 auth., are convertible at
option of holder into capital stock of the Mldvale 8. 8c O. Co. at the rate of
10 shares of stock (par value $50) for each $1,000 of bonds.
If called for
redemption, bonds are convertible until within 30 days of redemption date.
A cumulative sinking fund of $500,000 per annum to acquire bonds at not
exceeding 105% Is to begin May 1 1917.
Redeemable in part at any time
at 105% and int. for the sinking fund, or as a whole, after March 1 1920 on
any interest date.
V. 102, p. 715, 804, 1064; V. 105, p. 604.
These
bonds are secured by pledge of 875,295 out of a total of 900,000 jBharee of
cos.
„
[Vol. 112.
STOCKS AND BONDS
INDUSTRIAL
200
MISCELLANEOUS COMPANIES
Date
Par
Amount
Rate
When
Last
Bonds
Value
Outstandino
%
Payable
and
Maturity
Milwaukee Gas-Light—First mtge g
$ 1.000
$8,697,000
100
100
"ioo'&c
16,000,000
6,000,000
19,075,400
3,600,000
6U0 &C
6,000.000
1902
$10,000,000 red 110--Ce
Minneapolis Gen Elec—See Northern States Power
Mississippi River Power Co—Com stock $16,000,000
Preferred stock 6% cumulative
Co
auth.
1920
1920
bonds $25,000,000 authorized
f
15-yr s f gold debs $5,000,000 auth call (text)
SB.xxxc*
Mississippi Valiey Gas Sc. El Co—Coll tr bonds red 102 text--*
Moll no Plow Co—Common stock $21,000,000 auth
1st pref stock (a & d) 7% cum $7,500,000 red text
2d pref stock 6% non-cum 51.500.000
Serial gold notes due $1,000,000 yrly. call (text)-.Ce.xxxxc
Montana Power Co—Common stock $76.000,001)
Do
(part of $75,000,000) dividends deferred (text)
Pref (a 9c d) stock 7% red 120 after 3 years $25,000,000Butte Elec 9c P 1st M g g f due part v'ly June 1 Usrn.xc*
Montana Power Transmission $7o0 000 g gu call 105..-.*
Madison River Power 1st M $5,000,000 g gu call 105
*
Great Falls Pow Co 1st M $15,000,000 call 107H -Ba.xc*
First 9c Ref M $75.000,000 g red 105 heg July *18 s f.0.yc*r»
Montgomery Ward & Co—Com. stk.,1,285,000 sh. auth.
Pref. stock 7% cum. $10,000,000 auth. red. text
I Class "A" stock 7% cum. (see text)
Class "B" stock (see text)
M W Warehouse Assn. K O, pr stk 0% cum (a&d) s f redllO
First mortgage
1912
100
too
1,000
1918
100
100
100
1,000
1901
500
1903
&C
1905
1,000
1911
1018
1.000
100 Ac
un
—
760,287
776,753
792.722
1,171,492
1,375,935
1,158,615
def.$1,395,202
$1,516,997
$2,750,197
$7,800,341
!
t
Net
*
f
profits
After provisions for all taxes.
*
■r
♦
1919.
, «ipm -
"■I'EII.J mg;-.'
$4,701,534
-v •
■Wr"" »■
^
f
1
REPORT.—For cal. year 1920, in V. 112, p. 929, showed:
Calendar Years—
1920.
1919.
Total net income
..t
Provision for depreciation,
■.
Guar. div. Cam. I. Co. stock
5,334,770
9,915,777
"a"'
2,734,810
338,720
"a"
2,802,789
338,720
2,880,342
338,720
4,950,000
depreciation
Special
nn
6,746,752
&c
Provision for Federal taxes.
(9)9,000,000(12)12000000
(8%)8,000,000
Dividends paid
Amort, under Federal law
5,193,563
Inventory depreciation
4,500,000
$4,424,920
$1,588,606 $12,258,537
$59,865,449 $55,308,703 $53,720,098
a Net earnings from operations after deducting all expenses incident tt
operations including those for ordinary repairs and maintenance, and for
•"Balance, surplus
Total surplus Dec. 31.
Federal
taxes.
■'
_
►~"DIR E CTO RS.—W illiam ETCoreyt Albert" il7 Wigging Samuel F. Pryor,
J.'sW. Harriman, Ambrose Monell, John D. Ryan, Alva C. Dinkey,
Samuel M. Vauclain, Percy A. Rockefeller, Charles H. Sabin. Marcellur
Hartley Dodge. J. O. Neale, A. A. Cofey Jr., W. B. Dickson and Frederic!
W. Allen.
Chairman, W. E. Corey; Pres., A. O. Dinkey; V.-Ps., A. A
Corey Jr.. John O. Neale, D. Brewer Gehly and Wm. B. Dickson (and
Treas.); Sec.. Robert Brewster.
Office. Wtdener Bldg., Philadelphia.—
(V. 112, p. 167, 379, 567, 929, 1522, 1983, 2089.)
OvubWEST
369, 567,
REFINING
1522,
CO.,
1623^1983.)
DENVER,
4
< *
112,
COLO—(V.
& $
J 4 4 4 4
4
<
167,
p.
-4 a*
V-d
«
MILWAUiTeiToaS LIGHT"CO.—ORGANIZATION.—Incorporated i)
V. 74, p. 1199.
V. 78, p. 2602; V. 83, p
1293.
Am. Lt. & Trao. Co. owns praotically entire stook (V. 88. p. 752)
v. 85, p. 164.
Rate decision. V. 93. p. 731.
1852.
Has perpetual franchise.
DIVIDENDS
(V. 103,
p.
not
made
public.
Chairman.
1035, 1122: V. 106, p. 601.)
MINNEAPOLIS (MINN.)
Emerson
McMillin.-
GAS LIGHT CO(V. 111. p. 394, 595.)
MINNEAPOLIS STEEL & MACHINERY CO.—(V. 109. p. 482.)
RIVER POWER CO.—This company's hydro-electrin
plant spans the Mississippi River at Keokuk, la., and has an installed
generating capacity of approximately 150,000 h.p.; ultimate capacity 200,000 h.p.
Transmission lines 468 miles serve St. Louis, East St. Louis,
Alton, Hannibal, Quincy, Burlington, Ft. Madison and adjacent territory.
Contracts with public utilities and industrials in this territory amount to
over 130,000 h.p.—Compare V. 112, p. 379.
MISSISSIPPI
power
^CAPITAL STOCK.—See table at head of page.
*""DIVS.—Initial
div. of IH% on pref. stock was paid April 1 1921.
In
a div. on pief. of 37 M % payable in pref.
March 1921 the directors declared
stock for the purpose of
adjusting accumulated divs.—V. 112, p. 1405.
"DEBENTURES.—The 7% gold debenturesXre~callable, all
or part,
at
103 and int. prior to Nov. 1 1925, at 102 and int. from Nov. 1 1925 to May 1
1930, at 101 and int. from Nov. 1 1930 to May 1 1934 and at 100 and int.
on Nov. 1 1934 and May 1 1935.
Sinking Fund: 3% annually of deben¬
tures certified from 1921 to 1926 incl. and 4% annually from 1927 to 1934,
incl., payable Sept. 1, to be applied to purchase of debentures at not exceedingcall price or to call by lot if not so purchasable.
BONDS.—The first mtge. s.f. 5s are a first lien on the entire property
of the company.
Bonds totalling $1,572,900 have been retired by the sink¬
ing fund unissued, $4,351,700.
EARNINGS.—For year ended Dec. 31
964; net after taxes. $2,189,341.
MANAGEMENT.—Under Stone
167, 264, 379, 939,
1920:
Gross earnings, 82,827.-
conjunction with Standard Gas & Elec. Co., the Louisville Gas & Elec
& Elec. Co.. through stock ownership
$5,000,000 present Issue of 10-year 57.
of $4,500,000 pref. and $2,500,000 com
Elec. Co.
V. 94. p. 1252. 1510.
;
BONDS.—Of the 10-year 5% coll. trust bonds ($10,000,000 auth. issue)
the remaining $5,000,000 can only be issued for 80% of the cost of additions
collateral.—(V. 9(4. p. 1630: V. 95. p. 300.)
In
MOLINE PLOW CO.—ORGANIZATION.—Incorporated In Illinois
1870; business established In 1865; large manufacturers of agricultural
l^J^?01^.^;?00 D,ant8 in V. 98.
D. 290:
Y.
V. 08. D
«9;
V. 107. p. 800.
109, p. 12/8.
Moline Engine Co. formed. V. Ill, p. 2527.
In Sept. 1918 a majority of the $9,996,000 common stock was sold to
N. Willys, President of the Willys Overland Co. and the minority
John
Interests were offered the same terms, namely, $150 per share payable Id
stocks paying 7% cumulative preferred dividends quarterly. In following
proportions of the
following companies: Willys-Overland, 55%; Electric
Auto-Lite'pow Willys Corporation) 30%; Curtiss Aeroplane& Motor Corp.
15%. V. 107, p. 1389, 1290; V. 108. p. 474.
STOCK.—Common Stock auth..$21,000,000; outstanding. $10,000,000
The first pref. stock (issued In Jan. 1913) Is subject to call as a whole on 60
days notice at 115 (on dissolution at 110) and accumulated divs.
First
pref. stock is entitled to a majority of board in case of 6 mos.' default on
any quar. div. thereon, or of failure for one year to have net quick asset*
1.4 times the amount of 1st pref.
No mortgage thereafter without consent
of 75% of the first pref.. and no first pref. beyond $7,500,000 without
consent of 50% of first pref.
Otherwise the first pref. stock has no voting
,
power,
y.96. p.290. Div.on lstpref., IH% quar.,Junel913 toDec. 1920.
M
&
N May 1
Oct 15
text
text
M'~9C~~8
Q—J
State
1922
10 2%
Dec 1*20 1 H%
Dec 1 *20 1H %
Sept '21 to 1924
Apr 1 1921
M
St
Tr
Co,
Boston
Chicago (CC) & N Y (U i
Checks mailed
do
do
do
do
Nat City Bank.
Checks mailed
N Y
do
do
Apr 1 '21 1^%
1951 U S Mtge & Tr Co, N
Q—J
J
&
D To June 1
F
&
A
F
&
A
M
9c
J
&
Aug 1 1933
1 1935
N May 1 1940
J July 1 1943
Bankers
Y
do
do
do
do
Feb
Tr
N
Co.
Guaranty Trust Co.
Y
N Y
July 1 1921.1M
Oct 1 *20, $1.75
Q—J
Aug 1 '18 1H%
d under
First & R efMtge of 1913, all
further
bonds
must
1921 div. deferred.
On 2d pref., \Yz% quar., June 1913 to
then none till Sept. 1916, when 6% was declared; Dec. 1916 to
114% quar. (6% p. a.).
Mar. 1921 div. passed.
The com.
also suspended in 1914, were resumed Oct. 15 1916, when 2%
Oct. 1916 to Apr. 1921, none on com.
V. 105, p. 2003.
NOTES.—The $6,000,000 7% Gold notes sold in Aug. 1918 on account
of expanding business and greatly enlarged inventory consists of six series,
A to F, of $1,000,000 each, due one series each year on Sept. 1 1919 to 1924.
but callable the last maturities first at 103 for notes with 5 years or more
to run; 102H for 4 to 5 year maturities; 102, 3 to 4 years; 101H. 2 to 3
years; 101, 1 to 2 years, and 100 H for notes with less than 1 year to run.
No mortgage can be created while these notes are outstanding without
providing for their prior payment.
See further restrictions, &c.t V. 107.
p. 806.
REPORT—For cal. year 1920, in V. 112, p. 1974, showed:
12 Mos. to
14 Mos. to
15 Mos. to
12 Mos. to
Dec. 31 '20. Dec. 31 '19.
Oct. 31 '18. July 31 '17.
Net, aft. maint.,depr.,&c.
$676,587
$1,059,313
$2,038,779 $1,566,842
1st pref. dividends
(7%)525,000(8M)656,250(8^)656,250 (7)525,000
2d pref. dividends
(6%)90,000(7^)112,500(7^)112,500 (6) 90,000
Mar.
incl.
Sept. 1914,
Dec. 1920,
stock divs,,
was paid.
Common dividends
(2%)200,000
—
$61,587
$290,563
$1,270,029
$751,842
OFFICERS.—Chairman, John N. Willys, Pres. & Gen. Mgr.. Geo. N.
Peek; V.-P. & Treas., H. S. Lord; Sec., L. C. Blanding—(V. 112, p.
939, 1522, 1974, 2197.)
I
Balance, surplus
CO.—ORGANIZATION.—Incorporated in New
plan V. 95. p. 1334.
Supplies
and has contracts to furnish electric power
for operation of 438 miles of main line of Chic. Mil. 9c St. Paul Ry. between
Harlowton. Mont., and Avery. Tda.. now In operation
V. 104. p. 1040.
Total completed capacity of plants Dec. 1920 was 212,340 k. wr., viz.:
MONTANA POWER
Jersey Dec. 12 1912 as a consolidation, per
to
large mines, various cities, 9cc.,
Qrt. Falls.
Thompson.
Steam.
Total.
98,000
30,000
810
212,340
121.500
121,500
official statement. V. 96, p. 1017; V. 98, p. 455. 159: V. 100, p. 970.
lontana.
83,530
Hydro-electric.
Completed
Undeveloped
8ee
which divs. are deferred,
See V. 96, p. 1017: V. 98.
456: V. 95, p. 1611, 1687.
See voting trustees, for the dividend deferred
sli£ir6Sf V» 104»
2456»
Dividends paid on pref. In full to Apr. 1921.
On common, April 1913
to Oct. 1915, Vi% quar.: Jan. and April 1916.
July div. was Increased
to 1%: Oct. 1910. 1%: 1917. Jan. and Aoril, 1%: Julv. 1 H %, and 25 cents
extra to aid Red Cross contributions.
Oct. 1917 to July 1919. 1H % quar
Oct. 1919 to Apr. 1921 paid % of 1% quar.
BONDS.—The First and Ref. 5s ($75,000,000 auth. issue) are now
a first
lien on about 71% In capacity of the present developed power
plants. 56% of the present transmission lines and 84% of the undeveloped
water powers, and upon completion of the new power plants now under
construction will be a first lien on a much larger percentage of total power
plants and transmission lines.
Of the author!zed bonds (a) $10,319,000
reserved to retire, par for par, all outstanding underlying bonds; (6) remain¬
der issuable only when net earnings are 1 % times the entire bona Int. chges..
Including Int. on the bonds sought to be Issued, and then only for 80% of
the cash cost and fair value of additions extensions or impts. Cum. sink¬
ing funds begin In 1918. V. 98, p. 455. 240. 159: V. 100. p. 646. 816. 984.
1514: V. 103, p. 1985.
In 1918 sold a further $5,300,000 of these bonds,
making $22,328,700 of this issue outstanding and leaving $3,736,000 of
same in treasury and $11,300 in sink. fund.
V. 106. p. 1039, 1342, 2014;
V. 107, p. 2293, 2372.
Butte Elec. 9c Power Oo. 1st 5s mature $25,000 yearly to 1930. Incl..
$320,000 In 1931, less bonds acquired In 1916 and after through sinking
fund; balance in 1951.
V. 80, p. 713: V. 73. p. 139: V. 82, p. 1441; V.
38. p. 1623.
Madison River guaranteed bonds, see V. 81, p. 015, 1045;
V. 84. p. 511; V. 87, p. 1482; V. 90. p. 113.
Transmission 5s, V. 81, p. 615:
V. 69, p. 1251.
Of the Great Falls 5s of 1911 $3,938,000 are In hands of
public. $1 062,000 alive in sink, fund and $5,782,000 are nledired under 1st
& Ref. Mtge. of 1913, as will be any further Issues of the $15,000,000
anthorized.
See V. 101. p. 1631: V. 94, p. 985. 914.
LATEST EARNINGS—3 months ending March 31:
STOCK.—The $3,000,000 of common stock, on
will become dividend-bearing on June 2 1921.
p.
1920.
1921.
$1,730,690
Earnings
$2,070,022
Bal., sur., (after int. Fed. taxes, &c.)_
637,475
977,222
REPORT—For year 1920, V. 112, p. 1515, showed:
Cal.
Gross
Net, after
Interest,
Pref .Divs,
Common
Depr.. &c.
Taxes
Earnings
Year
1405.
Oo.
Controlled by Standard Gas
which guarantees prin. & Int.
the
coll. trust bonds, secured by pledge
mon stock of the Louisville Gas &
N Nov 1 1935
5
&JWebster management.—-V. 112, p
MISSISSIPPI VALLEY GAS & ELECTRIC CO.—ORGANIZATION
Incorp. in Maine May 23 1912 to acquire the securities and assist in the de
velopment of electric, gas, railway and water-power properties. Controls
in
J Jan 1 1951
&
.
19 8.
a$22,245,202a$19,064,885a$52,036,939
Bond interest
^pledge
canceled
1918.
$9,77o,044
793,383
1,181,320
Deprec. & depletion
Old Colony Tr Co, Bost
&
M
525,000
1,000
ir.1Q
Interest
Checks mailed
See text
Q—J
J
7
100
text
None 205,000 sh. See
None
95,000 sh
capital stock of Cambria Steel Co. On Dec. 31 1920 $1,675,000 of the bonds
were In the treasury; $3,381,000 were unissued; $2,464,500 had been retired
toy sinking fund. V. 104, p. 1403. 2015. 2557: V. 106. p. 1455, 2564.
Manufacturers' Water bonds are red. on any int. day at 101 and int. out
of the sinking fund ($150,000 yearly, beginning 1912), and also at 102H in
blocks of $500,000 or over. V. 88, p. 1376; V. 90, p. 770: V. 96. p. 1090.
Bonds sub. cos., Dec. 31
1920, $11,016,000.
Guaranty, V. 90, p. 1365.
1920.
$3,669,685
Emerson McMillln 9c Oo
1927
7g
sh.
8,000,000
Excluding $1.062.000 uncanceled In sinking fund!Dec311
300
so pledged,
y Closed mortgage,
w Excluding $11.
1921.
$536,577
N May 1
Where Interest ano
Dividends are Payable
None 856.251
also be
jo
Quar. end. Mar. 31—
earnings
6
d>
5 g
7
4,000,000
46.407.500 3 in 1920
3.000,000
9.671.800 7 in 1920
y3,859.000
y501.000
1 g
*
5
y2,021,000
5 g
x3,938,000
W22328.700
fig
920 an d $5,782. 000
♦Net
M
4 g
10,000.000
7,500.000 See
1,500.000 See
100
t
x
Places
Dividend
[For abbreviations, dec., see notes on page 6]
(7%p.a.)
$
$
$
$
Dividends
1919.
$1,882,802
789,235
Balance,
Surplus.
$
$
1920._.7,928,087 5,116,349 2,058,625 677,026
(3 K)l,354.724 1,025,972
1919-.. 6.851.983 4.401.309 2,105.677 677,026 (4%) 1.673,801 def.55,196
1918
7.609.868 5.136.305 2.0K6.110 677,020 (5%) 1,916.208
156,901
1917— 6.912,364 4,889.032 1.745.604 677,026 (5%)1 654.958
811.443
OFFICERS.—Pres., John D. Ryan; Vice-Pres., Frank M. Kerr,
Frederick Strauss: Sec. & Treas., Walter Dutton.
Jaretzki and
Alfred
Office,
V. 112, p. 1150,1515. 1873.
montgomery ward & co..
inc—organization.—incnrpo
rated in Illinois in Dec. 1919 as successor to a company of the same name
Incorporated under laws of New York in Jan. 1913.
Mail order business
established in 1872.
Owns plants at Chicago. Kansas City, Mo., St. Paul,
Minn., Fort Worth and Portland, Ore.
Y. 96, p. 557; V. 98, p. 240; V. 103,
p. 1985: V. 107, p. 2293; V. 109, p. 1992.
Merchandise is bought directly from manufacturers and sold by mail,
directly
to consumers, largely eliminating intermediate profits.
The
company is engaged in the manufacture of many of its merchandise items,
such as food products, harness and saddles, candy, lubricating oil, paints,
gas engines,
automobile tops, agricultural implements and many other
25 Broadway. New York.
items.
Leases until Mar.
Ward
31 1932 building at Portland, Ore., from Montgomery
The latter company issued $900,000 bonds (6%
Warehouse Corp.
1st mtge.) which are
Ward & Co., who will pay
serial
guaranteed principal and int. by Montgomery
in rental a sum sufficient to redeem $95,000
annually beginning 1922.
Leases until Oct. 31 1925 building at Kansas
ery
Ward Warehouse Associates (of
the rental being $48,000
pref. stock, redeemable at 110
The stockholders voted
ois
and
to
and dividend.
V. 98, p. 240.
Corporation Incorp. Dec. 1919 (V. 109, p. 1798. 1992).
Dec. 2 1919 to reincorporate under laws of Illin¬
dissolve the New York corporation.
The new company has
Plan for New Illinois
the
City. Mo., from Montgom¬
which entire common stock is owned),
yearly plus $75 (KX> to retire the *750.000 8% cum.
following capitalization:
MAT, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see iiotes on page 6]
STOCKS
Par
Amount
Rate
When
Last
Dividend
Value
Outstanding
%
Payable
and
Maturity
1902
1903
1906
1913
$100 $18,778,266
1,000
7.013.000
1,000
3.046.000
$ A £
1.337.000
500 Sec
11.498.000
1.000
17.950.000
4X
100 &c
100 &c
15,000,000
3.000.000
8 g
entitled
in event of liquidation to $3.00 to each
$1.00 of assets dis¬
common stock mentioned below.
Exchangeable for common
the basis of three shares of common for one of Class B
stock.
tributed to the
existing non-par value stock
were given the option to receive in
exchange therefor share for share, either
Class A ojr Class B shares or both, in such
respective proportions as they
might elect,
(c) The common stock was disposed of as follows: 150,000
reserved for sale to employees; 510,000 shares were sold to
the
,
DIVIDENDS (on stock of old company).—On pref., 1.18%
Apr. 1 1913
mos. and 1 day, July 1913 to Dec. 1919,IK % quar.
Dividend
per share, was paid on common stock out of
earnings of year
1914 and dividend No. 2 $3.50 in Feb. 1916 out of
earnings of 1915.
No.
3. $5 in Feb. 1917; No. 4. $5 in 1918; No. 5, $5 in Feb. 1919; No. 6. $5 in
Jan. 1920.
(On stock of new company), pref. \ %% quar. paid April 1920
to Ju'y 1921; on Class A stock
paid $1.75 quar. from April 1920 to Oct.
1920; Jan. 1921 div. was omitted.
V. 112, p. 167.
covering 2
No. 1, $3
Years—
year
Mos.—1920
$41,550,827
ending Dec 31 1920 in V. 112,
1920.
1919.
p.
649:
1918.
1917.
Sales$101,745,271 $99,336,053 $76,166,848 $73,512,645
Net, after depreciation.def7,855,278 " 5,094,170
6,390,181
5,419,688
Reserve for war taxes
900,000
2,000,000
1,289,594
Preferred dividends 7%
546,345
541,794
527,615
350,000
Common dividends ($5)
1,500.000
1,500 000
1,575,000
Class Adivs
1,066,035
-
Balance, surplus ___def$9,467,053
$2,152,376
$2,362,566
$2,205,094
OFFICERS.—Chairman, Silas H. Strawn; Pres., Theodore F. Merseles;
Vice-Pres., Sec. & Treas., J. C. Maddison.
Directors.—J. C. Maddison,
D. R. McLennan, Chas. D. Norton, S. H. Strawn, .John A.
Spoor, B. A.
Eckhart, Elliott Averett, Theodore F. Merseles, Robt. P. Lamont, Chas.
H. Thorne and R. J. Thorne.
(V. 112,
p.
Office, 618 W. Chicago Ave., Chicago.—
854, 939, 1289, 1522, 1983.)
MONTREAL LIGHT, HEAT A POWER CO.—ORGAN.—Controls the
gas. electric light and power business of Montreal and suburbs; also two
hydraulic stations for generation of electricity, in operation in the fall C
1903, to have a capaolty of 28,000 h. p., viz., one hydraullo plant, Laohlne
Que., and one at Chambly, Que.
Controls output for Island of Montreal
of Shawlnlgan Water Power Co., also the
output of the Provincial Light
Heat A Power Co., which has built a 15,000 h.p.
(hydro-electric) plant on
the Soulange Canal. V. 83, p. 216; V. 88,
p. 380; V. 103. p. 238.
In 1916 Civic Investment A Industrial Co. (see Montreal
Light, Heat A
Power Consolidated below), formed for the purpose with
$75,000,000
of authorized .capital stock in $100 shares, offered 3 of these shares tat
each $100 of the $18,709,400
cap. stock of Montreal Lt., Ht. A Pow. Co.
shares, and par for par for the $8,900,000 stock of the Cedars Rapids Co
The new to. has issued $64,126,100 of its stock and leases the two
proper¬
ties for 98 years, guaranteeing all fixed charges, Ac.. and
8% p.a. on all stock
of Montreal Oo. and 3% on all Cedars
1916.
1799.
Rapids stk.
not exchanged on Aug, 1;
See V. 102. p 2169.
Rate Increase, Sec., In April 1918.
Cedars Rapids Transmission Co. V. 107, p. 1104.
DIV8—1
V. 106, p.
*07. '08. *09. '10. 'II. '12. '13. '14. '15. *16.
5
6
6
7
8
9
10
10
10
10
1917 to May *21.
/
2% quar. (Q-F)
SECURITIES.—Royal Trust Co., Montreal, Is trustee of both mtges.
Of the 434s of 1902, $487,000 are reserved to retire an
equal amount of
underlying bonds and $712,000 In the treasury.
Of the Lachlne division
bonds $416,000 are reserved to retire an equal amount of
underlying bonds
and $125,000 are in the treasury.
List or underlying bonds and descrip¬
tion of mortgages, V. 74,_p. 580; V. 75, p. 238; V. 76,
p. 923.
The $1,358.000 Provincial L., H. 3c P. 5s are guaranteed, p. Sc I.
V. 88, p. 380.
Cedars Rapids Mfg. & Power Co. 1st 5s ($15,000,000 auth.) are redeem¬
able on or before Jan. 1 1922 at 105, thereafter at 110 and int.
V. 103, p.
323; V. 102. p. 1813.
Percent.
OFFICERS.—Pres., Sir Herberts Holt; V.-P., J. S. Norrls; Sec.-Treas.
Bagg; Asst. Sec. A Treas., G. R. Whatley, Montreal.—V. Ill, p. 698.
MONTREAL LIGHT, HEAT & POWER CONSOLIDATED.—Incor¬
porated in Canada in 1916 as Civic Investment & Industrial Co., name
being changed as above in 1918.
Stock listed in Montreal, $64,475,500.
Owns 98% of the stock of both the Montreal Light Heat & Power Co.
(which see above) and Cedars Rapids Mfg. Co. (V. 106, p. 823); operates
their
properties under leases running for 98
years
from Aug. 1 1916,
assum¬
ing all tneir fixed charges and paying dividends at fixed rates on their
capital stock.
Dividends Nov. 15 1916 to May 15 1919, 4% per annum
(Q.-F. 1%); Aug. 1919 to May 1921 1M % quar.
Income account for 1920
in V. 112, p. 476.
Pres., Sir Herbert S. Holt; Vice-Pres., J. S. Norrls; Sec. & Treas., C. S.
Bagg; Asst. Sec. & Treas., G. R. Whatley, Montreal.—(V. 112, p. 476.)
MORRIS & CO.
Oct. 16 1903.
(PACKERS).—ORGANIZATION.—Incorp. in Maine
Owns packing houses, refineries, Ac., at Chicago, at Union
Stocks Yards; East St. Louis, at Nat. Stock Yards; Kansas City, Kan., St.
Joseph, Mo., Oklahoma City, Okla., and South Omaha, Neb., embracing
144 acres of land.
Daily killing capacity, cattle, 8,000; sheep, 9,000; hogs,
25.000.
V. 95, p. 547; V. 91, p. 1510.
Reply to report of Federal Com¬
mission, &c., V. 106, p. 185; v. 109, p. 376, 583.
Stock yards holdings,
V. Ill, p.2234.
New York or Chicago
15 Apr 15'21
IK New York and Denver
Feb 12 1921 $1 Central Union Tr Co N Y
"Q—F May 1 1921 2%
do
do
Feb
1 '21
$10 Commonw Tr C«, Boston
P—J
"Q—F
May 1 1921 IK
do
do
eggs,
but¬
par
years
REPORT.—For year ending Oct. 31 1920 in V. 112,
p. 559, showed:
1919-20.
1918-19.
1919-20.
1918-19.
$
$
$
$
Total income__4,270,598
6,845,472 Oth.int. tax
SALES.—
REPORT.—Report for
New York & Chicago
New York or Chicago
1 1930
BONDS.—Auth. issue, $25,000,000; First Trust A Sav. Bank and Emil
K. Boisot of Chicago ana the Mercantile Trust Oo. of St.
Louis, trusted
outstanding, $17,950,000, $2,300,000 canceled by sinking fund; remainder,
$1,750,000, can be certified only for additional fixed assets, such as real
estate, buildings, machinery, fixtures and apparatus, at
75% of actual
cost.
Annual sinking fund, beginning July 1
1920, $300,000 (sinking
fund was $200,000 per annum from July 1 1910 to
July 1 1920).—V. 91,
p. 1510;
V. 89, p. 48, 107; V. 108, p. 2334.
The 10-year sinking fund gold notes of 1920 are redeemable at
107 during
first three years, 106 during next three years, 105
during next two years,
and 104 during last two years.
A sinking fund beginning Sept. 1 1922 will
retire in s. a. instalments $5,000,000 before
maturity as follows: On Sept; 1
and March 1 of each year from Sept. 1 1922 to and
including March 1 1928,
$250,000 and on the four following semi-annual dates $500,000 each.—V.
Ill, p. 901.
William F. Mosser Co. $3,000,000 8% notes are guaranteed
prin. and
int. by Morris & Co.—V. Ill, p. 1284.
voting rights.
Distribution of These Securities.—(a) The holders of the
pref. stock of the
New York corporation were offered a like amount of
pref. stock of the
Illinois corporation.
(5) The holders of the
Calendar
July I 1939
S Sept 1 1930
O Oct
and issued, $10,000,000 preferred and
$40,000,000
$100.
Divs. paid for 12 mos. ending Oct. 1 1910, 1434%;
ending Nov. 1 1911 and 1912, 6%; 1913, 12%; 1914, 15%:
1915, 25%; 1916, 33 1-3%; 1917, 5%; 1918. 10%; 1919,10%.
In 1920 paid
a 900% div. in common stock and a 333
1-3% div. in pref. stock, increasing
the capital stock from $3,000,000, all of one class, to the amounts mentioned
above.
V. 112, p. 567.
company, 510,000 shares
are outstanding in the hands of the
public, 285,000 shares are reserved for
exchange for 95,000 shares of Class B stock on the basis of 3 shares for one,
and 340,000 shares are held by new interests in the
company.
1921—April—1920.
I
1921—4
$6,464,073
$9,491,4561$25,179,040
'20
7
N Y. Montreal & London
New York
STOCK.—Auth.
common;
fiscal
Common Stock.—Authorized 1,285,000 shares no
par value, of which 150,000 shares are reserved for sale to employees of the
held by new interests in the company.
/Company's off, Roy.Bkl
\of Canada or N Y Agcyj
handling of
Class "B" Stock.—95,000 shares having no
par value.
Entitled to divi¬
dends of $3.00 for each $1.00 declared on the common stock
mentioned below
are
2% Checks mailed
1 1932
ter, poultry and cheese, which is left for future
consideration) and in general
to confine their
operations to the wholesale meat business.
V. 109. d.
2363; V. 110, p. 267.
Justice Wendell P. Stafford of the District of Columbia
Supreme Court
on March 1 1921 accepted the
company's plan for disposal of its stock vards
interests.
The company will place its holdings in the hands of a
"trust
company to be disposed of within a year.
V. 112, p. 939.
Sale of Crescent City yards, V. 112, p. 1873.
Stock.—205,000 shares having no par value.
Preferred as to
cumulative dividends of $7 per share and
preferred up to $100 per share of
assets in event of liquidation.
are
16 in
s ha.
3,399.200
&
&
Payable
May 16 '21. 1M Montreal
ft .TAJ
A
are
The "Big Five" Packers, In Dec. 1919 agreed to the
entering of a decree
in the Government suit
requiring them within two years to give up their
stock yards and other outside interests
(except their
Class "A"
public,and 340,000shares
54,000
100
Dividends
O Apr
Q—F
434g M
100
38.439.700 7 In 1920
None
100,000 sh.
text
100
1,000,000
8%
Preferred Stock.—Auth. $10,000,000; issued $8,000,000 par value $100.
7% cumulative.
Sinking fund 2 34% of amount outstanding to redeem
preferred stock at not over $112 50.
The entire issue can oe called at $115
per share.
No mortgage may be placed on the company's
property without
the consent of three-quarters of all
preferred stock outstanding.
shares
5 g
See text
1920
1920
j Jan
Places Where Interest and
1 1933
MAS Sept 1 1946
j
a
j Jan
1 1953
£g
K
1909
May 15 '21
a
A
A
5
„
None
Q—F
4H g j
64.475,500
„
All shares of stock have the same
See text
100
.Mountain States Telep <5c Teleg Co—Sroofct SoO.OOO.OOU autn.
Mullins Body Corp—Com auth 100,000 shares
Pref (a A d) stock 8% cum call for s f auth
$1,000,000
Nash Motors Co—Com stock auth 55,000 shares no par val
Pref (a A d) stock 7% non-cum auth $19,500,000 s f callable
on
301
Date
Morris & Co—First mtgeauth $25 (k>0.000e red l03.FC.sc&r
Ten-year s. f. gold notes $15,000,000 auth. red. text__xxxc*
Wm. F. Mosser Co. 10-yr. s. f. notes
guar. p. A 1
xxxc*
stock
BONDS
Bonds
Montreal Light. Heat & Power—Stock $22.000,000
First & coll trust mtge $7,500,000 g red 105 since
1912._c*
Lachlne mtge $4,000,000 gold s f red 105 after 10
years..c*
Prov L. H & P 1st M g gu p & 1 s f red 105 (V. 105,
p. 394)
Cedars Rap Mfg A Pow Co 1st M $15,000,000
g s f call__c<'
Montreal Light, Heat & Power Consolidated—Stock..
Morgan & Wright—See U 8 Rubber Co
and
AND
Tnt.
3,680!665
bonds..
762,250
exp—2,783,392
on
Admin,
575,750 Dividends..
2,047,626
&c3,518,453
(10)300.000
Bal.,surp.df2.955,709
403,642
OFFICERS AND DIRECTORS.—Nelson Morris,
Chairman; Edward
Morris, Pres.; C. M. Maefarlane, V.-P. & Treas.; L. H.
Ileymann, V.-P.:
H. A. Timmins, V.-P.; Thomas R.
Buckham, Sec.; Chas. E. Davis, and
M. W. Borders.—(V. 112, p. 167, 559,
567, 658, 751, 854, 939, 1289,
1623, 1873.)
MOUNT VERNON WOODBERRY COTTON MILLS.—(V.
Ill, p. 78
195, 2430.)
MOUNTAIN STATES TELEPHONE
&
TELEGRAPH CO.—OR¬
GANIZATION.—Operates over approximately 780,000 square miles, Incl.
Colorado, Utah, Idaho, Montana. Wyoming, New Mexico, Arizona and a
part of Texas.
Total stations Dec. 31 1920, 360.362.
V. 98, p. 1997,
Amer. Telep. A Teleg. Co., owning 70% of the stock offered in
July 1919
to buy the minority shares on or before
Sept 30, giving $100 of ts own stock
for each $114 28. V. 93. p. 1195; V. 90,
p
793; V 98. p. 916, 1997. Div.
Oct. 15 1911 to Apr. 15 192! ,7% yrly. (Q.-J.).
Telephone rates in 1918-19,
V. 100. p. 186; V. 107. p. 507; V. 108, p. 385.
Court decision affecting
rates, V. 109, p
178, 1897; V. 110, pi 566.
Rates ordered reduced; suit
filed, V. 109, p. 2269, 1093.
Colorado Supreme Court reverses decision in
which it
was
Denver.
V.
held
110,
that
p.
the company was
1093.
a
trespasser
the streets of
on
Rebate ordered, V. 110, p. 1855.
REPORT for cal. year 1920 showed: Gross oper. revenue, $14,940,7081
oper. income, $3,050,030: gross income, $3,169,602; net income,
$2,764,856;
dividends, $2,690,779; surplus, $74,077.
Pres., B. S. Read; Sec., J. E. Macdonald.
(V. 109, p. 177, 482; V. lio, p. 566, 1093.)
Office. Denver,
Colo.—
"mTJLLINS body corp.—ORGANIZATION.—Incorp. In New York
July 19 1919.
Successor to W. H. Mullins Co. of Onio, Incorp. in 1906.
Business originally established in 1871.
Plant at Salem, O.
Business
consists in stamping and welding of steel automobile bodies, manufacture of
fenders, engine parts and radiator shells, also motor-boats, launches, Ac.
To move to Detroit, V. 112, p. 1873.
8TOOK.—Stockholders of record Nov. 28 1919 were given the right to
subscribe until Dec. 9 at $44 a share for 30,000 shares of new stock in
pro¬
portion to 3 to 7 increasing the total outstanding to 100,000 shares of no
par
value.
Annual
V. 109, p. 1897.
sinking fund for pref. stock, 5% of net earnings after pref. dlvs.
_
„
No mortgage without the consent of 75% of the outstanding pref. stock.
Both classes of stock listed on N. Y. Stock Exchange in Oct. 1919.
Initial
dividends of 75 cents per share on the com. and $2 per share on the pref.
stock
Cal.
paid Nov. 1 1919.
Com. div. increased to $1 in Feb. 1920;
paid quar. to Feb. 1921.
May 1921 div. was omitted.
was
amount
Years—
1916.
1917.
1918.
$1,450,481
$400,947
Sales
Net
$1,916,898
$313,945
$2,493,194
$245,384
1919(7Mos.)
$1,667,837
$282,879
same
1920.
$3,711,42a
$701,290
OFFICERS.—W. H. Mullins, Pres.: R. M. Modisette, V.-P.; C. O.
Gibson. V.-P. A Sec.; H. C. Nelson, V.-P. A Gen. Mgr.; W. P. Carpenter,
V.-P. A Treas. Main office, 120 Broadway. N. Y.—(V. 112, p. 658,.
1522, 1873.)
NASH MOTORS co.—ORGANIZATION.—Incorporated In Maryland
July 28 1916 at direction of Lee, Higginson A Co.
Took over the prop¬
erty and business of the Thomas B. Jeffery Co. of Kenosha, Wis., manu¬
facturers of motor cars and trucks.
See full statement In V. 103, p. 497.
In 1919 purchased a half-interest in the Seaman Body Corp. of
Milwaukee.
New Plant.—Purchased 41
of erecting
acres
of land in Milwaukee in 1919 for the pur¬
plant for tho production of 4-cylinder cars. The rirst
plant had been placed in operation in Jan. 1921.
Also
made additions to Its main factory at Kenosha, Wis., during 1920. V. 112,
pose
units of this
a new
new
S. 367. of Capital stock, of five quar. divs.) pref. stockThe (non-voting Nov. 1
non-payment see table above; no bonds.
is callable up to except
i
case
1920 at
105
began in
Div.
and divs. and
thereafter at
110 and divs.; 2%
sinking fund
1920.
pref., Nov. 1 1916 to May 1 1921, 7% p.a. (1K% quar.). Initial,
div. of $6 on com. stock paid Feb. 1918; May 311918 $15; Feb. 1 1919,
$10;
Aug. 1 1919, $6; Feb. 1 1920, $10; Aug. 2 1920, $6; Feb. 1 1921, $10.
on
Date
Par
Amount
Bate
When
Last Dividend
Bonds
Value
Outstanding
%
Payable
and Maturity
MISCELLANEOUS COMPANIES
[For abbreviations,
&c., see notes on page 6]
National Acme Co—Stock $25,000,000
Nat Aniline Sc Chem Co—Com stock
—,
Preferred (a A d) stock 7% cum $23,524,700 call 120
National Biscuit—Common stock $30,000.000
Preferred (as to dividends) 7% cum $25.000,000
National Carbon Co. Inc—
Pref (a A d) stock 8% cum $5,600,000call 140
National Conduit Sc. Cable — Stock 250,000 abares..
First M 10-yrsfg bonds red $5.000.000
Ba
National EnamelinsA Stamping—Common stock $20,000,000
Preferred stock (aid)
7% cumulative, $10,000.000
Refund 1st M real estate sink fund g red text
Ce.xc&r*
1st M and OollTr g
$8.000,000..
...
due $125,000 yrly redl02J*~UPUc*
REPORT .—For fiscal year
Nov. 30 Years—
mies
Net income after mfg.,
100
1,000
1912
$41.754,093
share)
$5,089,036
$7,007,471
Federal taxes
per
7
50
336,000
832,000
315,000
872,000
,
$5,820,471 $3,921,360
Kenosha; Chairman, James J. Storrow, Boston.
Balance, surplus——
Pres., Charles W. Nash,
—(V. 112, p. 264, 367.)
automatic
in operation
making
$50
STOCK.—Capita! stock, auth.. $25,000,000. all outstanding* par.
stock, mortgage or funded debt.
V. 103, p. 2347;
p.
DIVIDENDS —Mar. 1917 to Dec. 1 1919, \H% quar ; Mar. 1920
Dec. 1920. \ %% quar.; Mar. 1921 div. omitted. V. 112, p. 854.
Notes payable Dec. il 1920, $3,744,013.
EARNINGS.—Year 1920, in V.
1920.
earnings
Federal taxes, &c
Dividends
112, p. 1150, showed:
-
$14,193,754 $16,630,563
4,545,451
5,164.301
2,200,000
1,500,000
1,500,000
1,500,000
$919,170
$710,640
Surplus for year—
to
1917.
1918.
1919.
$15,758,921 $12,240,990
3,000.337
2,917,167
545,000
500,000
1,744,697
1.497,997
Net salesNet
1903
V. 104,
No pref.
$2,164,301
$845,451
V.-Pres. & Gen.
Neal W. Foster, Asst. Treas.,
p. 658, 854, 1150, 1405.)
NATIONAL ANILINE & CHEMICAL CORP. N. Y.—ORGANIZA¬
TION.—Incorp. In N. Y. State May 26 1917 and acquired the Schoellkopf,
Beckers and Standard dye plants at Buffalo, Brooklyn and Wappinger
Falls, N. Y„ respectively also aniline oil plant of Benzol Products Co. at
OFFICERS.—A. W. Henn, Pres.
& Treas.; E. O. Henn,
Supt.; N. S. Rathburn, Sec. & Asst. Treas.;
Windsor. Main office, Cleveland, O.—(V. 112,
Marcus
Hook,
Pa., See.
, .
& Dye Corp. was
Chem. Co., Semet-Solvay
above.
STOCK.—The stockholders on Sept.
capital stock from 395,990 shares
the
29 1920 authorized an incresae in
to 554,386 shares, the additional
40% stock dividend.
158,396 shares being distributed in the form of a
was done in accordance with the consolidation plan.
See
& Dye Corp.
Pref., $23,524,700; par $100.
In treasury
22,000 shares of com. and 23,721 shares of pref.
Is held in a voting trust which runs until April 20 1923.
Wm.
H.
Orlando
Nichols, H. H. S. Handy, Wm.
F. Weber.
V. 108, p. 2026.
This
Allied Chemical
Aug. 23 1919,
A majority of the stock
Voting trustees,
HT Childs, W. J. Matheson and
l%%
On com¬
DIVIDENDS.—On pref. stock July 1 1918, 3H%; thereafter,
quar. to Dec. 311920; also 3)4 % on accumulations Jan. 15 1919.
mon paid 40% in common stock on Oct. 9 1920.
shows:
6 Mas.
REPORT.—In V. Ill, p. 1368,
Profit from operations, after deprec.,
amort, and obsolescence charges—
Interest,
dividends, rentals, &c
_
1920.
$4,840,276
391,169
Year 1919.
Year 1918.
$6,861,609
407,669
$5,980,497
331,888
$5,231,445
Reserve for Fed. taxes & contingencies
1,960,000
$7,269,278
2,625,174
$6,312,386
2,091,538
$3,271,445
$4,644,104
6.537,589
$4,220,848
Gross income
Net income
Surplus at beginning of period
Profit and loss charges—
Preferred dividends (7% per annum).
9,701,011
740,341
$12,232,115
Total surplur
1,480~682
2,920,371
743,764
a2,262,881
$9,701,011
$4,134,575
of 7% per annum from July 1 1917, beginning of operations,
1918, payable: July 1 1918, 3}4%; $779,187; Oct. 1 1918, 1 H%,
$373,182; Jan. 2 1919.1^%. $370,171; Jan. 15 1919, 3^%.
Pres., J. W. Newlean; Sec., Henry F. Atherton.
N. Y. office, 21 Burling
a
At the rate
to>Dec. 31
$740,341.
Slip.—(V. 112,
167, 1150.)
NATIONAL BISCUIT CO.—Incorp. in N. J. in 1898.
Operates plants
In various cities throughout the country. V. 66, p. 288, 901; V. 71,jp. 545!
V. 77. p. 92; V. 93. p. 669; V. 97, p. 599; V. 106, p. 292; V. 112, p. 253.
p.
5th St., 1919 City, occupied by its New York
f?In MayN. Y. purchased the real estate coveringplants.
the entire block on
West
'07. '08. '09. '10. '11.1912 to July 15 '21.
Common, reg
\4yearly 5 5H 6 5H 6 6% 7% (1^% Q-J)
REPORT.—For year ending Dec. 31 1920 (V. 112, p. 253):
Calendar Years—
1920.
1919.
1.918.
1917.
Net profits.
$5,543,120 $5,349,863 $5,135,840 $4,622,348
Common dividends (7%)
2,046,520
2,046,520
2,046,520 2.046,520
Preferred dividends (7%)
1,736,315
1,736,315
1,736,315
1,736,315
DIVIDENDS— /1900-05. '06.
surplus
Total profit and loss
Balance,
$1,760,285 $1,567,028
surplus Dec. 31 1920,
$1,353,005
$839,513
$21,089,097; reserve for
$1,400,000.
OFFICERS.—W. H. Moore, unalrman of Board;
Pres * H. J. Evans. R. A. Fairbairn, J. G. Zeller and O.
taxes.
idents; G.
Sec. & Treas.
253, 1747.)
P. Wells,
(V. 112, p.
R. E, Tomllnson
F. Bliss, Vice-Pres¬
Office, 409 West 15th S*.f N. Y.—
NATIONAL CARBON CO., INC.—ORGANIZATION.—Incorp. Jan.
under laws of N. Y. State for the purpose of manufacturing,
ing and selling carbon in all its various forms, as well as dry batteries,
storage batteries, starters, lamps, machinery, devices and appliances of
every nature. See.
Succeeded through exchange of stock to
property
buy¬
the
National Carbon Co., a New Jersey corporation, which
latter company has been dissolved.
(V. 104, p. 261, 858.)
Plants at Cleveland. Fremont, Fostoria, Ohio; East St. Louis, 111.: San
Francisco,
1 1927
Aug 25*03
1H Checks mailed
Dec 31'20
Q-—3~~
1%
do
MAS Sept 1 "21-'32
5g
entire
auth.
1581.
table above. All of the common stock
the Union Carbide & Carbon Corp., which see
CAPITAL STOCK.—Pref., see
(419,250 shares) is owned by
below, and V. 105, p. 1425.
quarterly from May 1 1917 to
quarter on the preferred. Dividends
DIVIDENDS.—These have been paid
May 1 1921 Jncl. at the rate of 2 % per
on common no longer made public.
OFFICERS.—Chairman, James
NATIONAL
Y
Y
Parmelee; Pres., E. F. Price;
Treas.,
106, p. 713, 431, 1581.)
CASH REGISTER CO.—(V. 108. p. 683. 892.)
H. E. Hackenberg.—(V.
NATIONAL CLOAK & SUIT CO.—(V. 112, p.
379, 658, 751, 1983.)
NATIONAL CONDUIT 6c CABLE CO., INC.—ORGANIZATION
Incoip. in N. Y. April 25 1917 and took over the assets and business of ths
old National Conduit A Cable Co., Ac.
Manufactures cables and wire,
Has its
copper sheets and other copper and brass products.
lighters, tugs, Ac.
Owns modern plant at Hastiags-on35 acres.
See description furnished N. Y. Stock
Exchange In May 1917, Ac.
V. 104. p. 2460. 1494. 1391.
A stockholders' committee was formed in Feb. 1921 owipg to a technical
default on the first mortgage bonds (the failure of the company to maintain
net quick assets in excess of the aggregate bonded debt outstanding).
A
bondholders' committee also was subsequently formed.
The stockholders
were to vote on April 22 1921 on a reorganization plan suggested by the
stockholders' committee which provided for the issuance of 8% cumulative
brass rods,
barges,
own
Hudson, N. Y., covering
preferred stock.
Compare V. 112, p. 1623.
STOOK.—Capital auth. and outstanding, 250,000 share*; no par.
De¬
clared capital. $8,750,000.
Stock listed on N. Y. Stock Exchange in
June 1917.
V. 104, p. 2347, 2645.
Dividend of $1 per sharepald July 16
1917; Oct. 1. $1.
Jan. 1918 dir. omitted.
V. 105. p. 2460; VY106. p. 92.
BONDS.—Annual sinking fund 2H%. also in any year, after
aside for the stock, 50% of the excess earnings.
has been set
deemable at 105 and int.
V. 104, p.
REPORT.—For year ending Dec.
Calendar Years—
Manufacturing profit
Income
Interest, taxes, &c
Deductions
Balance,
$4 a share
Bonds re¬
1391, 1494, 1596.
31 1920:
1920.
'
1919.
1918.
—$13,733,903 $10,557,836 $14,011,664
loss$28,504 loss$621,970
$520,703
$50,233 loss$451,543
$619,700
— —
$327,935
$345,073
$427,613
1,001,387
319,723
1,052,909
$1,279,089 $1,116,340
$860,222
sales
Gross
-
deficit
and loss, deficit—
$3,178,869 $1,946,117
$839,777
DIRECTORS.—Pres., H. J. Pritchard, H. K. Prichitt, E. G. Johnson,
Stephen C. Millett, C. G. Galston, G. F. Bauer and O. R. McMahon.
The Vice-President is W. S. Eckert; Sec. & Treas. is George F. Bauer.—
(V. 112, p. 751, 939, 1150, 1289, 1522, 1623.)
Total profit
NATIONAL ENAMELING Sc STAMPINO CO.—ORGANIZATION.—
Incorp. in N. J. on Jan. 21 1899. See prospectus, Ac., V. 68, p. 187; V. 76,
1405; V. 77, p. 403: V. 82. p. 755; V. 104, p. 859. 768.
Decision Dec.
1906.
V. 81, p. 215; V. 82. p. 755; V. 83. 0.1415.
p.
Louis Coke & Chemical Co.—In Aug. 1919 entered into a
purchase at flexible prices (dependent on the Chicago
delivered) for use at Its Granite City Steel Works, the major
portion of the product of the 500-ton blast furnace and also the greater part
of the by-proauct tar and gas to be produced at the 80 coke ovens which
were about to be constructed and owned by the St. Louis Coke & Chemical
Co. (completed during 1920).
The last named company, in order to pro¬
vide for this new construction, sold $5,000,000 8% cum. pref. stock.
See
Contract with St.
5-year contract to
price of pig
781.
V. 109. p. 686,
STOOK.—In
May
1919, having purchased $1,250,000 pref. stock In
at par to its own share¬
aforesaid St. Louis Coke & Chemical Co., offered
holders the remainder $1,453,400 (underwritten) of
the National's $10,000.-
2129, 2635; V. 109, p. 77.
1902-04.
1905.
1906-16.
1917.
1918-1921.
4 yearly
\\4
• None
4
6 (1H quar.)
On preferred In full declared to Dec. 31 1921. 1*4% quar.
In Feb. 1921 a dividend of 6% was declared on the common stock, pay¬
able 1H % quarterly Mar. 19, May 31, Aug. 31 and Nov. 30.
BONDS.—Subject to annual drawings at 105 In amounts increasing yearly
from $108,000 to $263,000.
Original issue, $3,500,000; $1,704,000 retired
stock. V. 108, p.
000 pref.
DIVIDENDS.—
On common (%)
—
to
April 1 1921.
1920, in V. 112, p. 1279, showed:
Pf. Divs. Com.Divs.
Balance.
(7%).
(4&6%).
Surplus.
$267,352 $700,000 $935,508
$1,726,643
271,623 649,131
935.508
1,072,081
272,306 598,262 935,508
1.239,495
272,993 598,262 623,672
3.023|62i
REPORT.—For year ending Dec. 31
Total
Net
Interest
Cal.
Year.
1920—$5,183,927
5,814,610
5,072,650
1917- 6.460.780
1919—
1918—
*
Sk.Fd.,&c.
Profits.
Incone.
$3,629,503
*2,928,343
*3,045,571
*4,518,548
for Federal taxes.
Niedringhaus; Sec., E. H. Schwartzburg, Treas., George
Ave.—(V. 112, p. 751, 1279.)
After deducting reserve
Pres., Geo. W.
V. Hagerty.
N. Y. office, 411 Fifth
NATIONAL FIREPROOFINO CO.—Incorporated In 1889; name was
changed In 1899 from Pittsburgh Terra Cotta Lumber Co.
Controls 21
plants adjacent to various cities between Boston and Chicago, about 5,000
acres of coal and clay lands, patent rights, Ac.
Manufactures porous terra
cotta, fireprooflng, hollow tile,
V. 72, p. 296,1191; V. 76. p.
see
building blocks, Ac.
Properties owned
651; V. 94. p. 68. 768; 1060; V. 95. p 53!
July 25 1912 authorized $2,500,000 refund'g
maturing $125,000 yearly.
V. 94. p. 1452: V. 95, p. 53. 424, 893.
BONDS.—The stockholders
bonds
( *01. *02.' 03. *04. *05. *06. '07. '08. *09. *10-'14. *15. 'le-'lQ.^O
7
7
7
7 5H 1
5
2
0 4 yrly.
1
o
1
3H5
4H
0
00
000
0
0
00
Dec. 31 1920 paid a special "Christmas" div. of 1% on pref. stock.
DIVS.
Pref—% |
% I
Com
On
.
V. Ill, p.
15 1917
and business
5g
O Apr
A
A
Long Island City and New York. N. Y.
The company owns the
capital stock of the Canadian National Carbon Co., Ltd., Toronto;
lss"«- 30.000 shares of no par value; issued. 6,000 shares.
V. 106, p.
Total
organized in Sept. 1920 as a con¬
Co., The Solvay Process
Co., The Barrett Co. and Nat. Aniline & Chem. Co., Inc.
For details as
to exchange of stock, &c., see statement of Allied Chemical & Dye Corp.
The Allied Chemical
solidation of the Gen.
1
Oct
?g"
W. M. Beard; Sec.,
NATIONAL AC/WE CO.—ORGANIZATION.—Incorp. in Ohio (about
Dec. 1 1916) to take over the assets, Ac., of the National Acme Mfg. Co..
of Cleveland (incorp. in Ohio Sept. 20 1901) manufacturers of
■crew machines ana milled screw products.
Owns and operates 3 plants:
(1) Cleveland (floor space over 10 acres), new 7-acre plant put
in 1919; (2) Windsor, Vt., 4 acres of floor space; (3) Montreal,
standard and special milled parts.
V. 103. p. 2347; V. 105, p. 1903.
May I
Q—F
6
10.000.000
1,796,000
4,461,300
7,900,500
1,388,000
&c
-50
—(over) $57.000,000
dividends ($16
15,591.800
100
1,000
1920 1% Checks mailed
1921 2% Checks from N Y Tr Co
1917 $1 orrice, 41 Park Row, NY
Bankers Trust Oo, N Y
Guaranty Tr Co, N Y
See text
See text
do
do
Q—M , See text
Central Union Tr Co, N Y
J
&
D "Junel 1929
8
5,600,000
250.000shrs
4,297,500
100
1909
1
and
Dividends are Payable
See text
500 Ac
None
112, p. 367, showed:
1919-20.
1918-19.
selling and administration
and State &
expenses
100
1917
Dec
text
Places Where Interest
Checks mailed
7
I Q—J See text
23,524,700
15 JuiylS 1921 IH First National Bank, N Y
29.236,000 7 in 1920 Q—J
do
do
May 31 '21 1H
Q—F
24,804.500 7 In 1920
loo
ended Nov. 301920, in V,
Preferred dividends
Common
$50 $25,000,000 See
554,386 shs
None
$4.500,000
National Fire proofing—Common stock
Preferred stock 7% non-cumulative
[VOL. 112.
SECTION
RAILWAY AND INDUSTRIAL
202
2431.
REPORT.—For 1920, in V. 112, p.
Calendar Years—
1920.
Net earnings
$900,303
150,000
Depreciation, Ac
Dividends
(1%)
-
79,005
854, showed:
1919.
1
Y
$134,936
1918.
$5,840
1917.
x$301,865
100,000
100,000
162,458
of the
Gal.; Clarksburg,
W. Va.; Jersey City. N. J.;
Niagara Falls,
Balance, sur. or
x
def___sur$671,298 def$234,936 def$94,160 sur$139 407
$42,459 profit on sale of property.—V. 110, p. 1532.
Includes in 1917
I
MAX, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on page 6]
STOCKS AND
Date
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
National Fuel Oat Co—Stock $32.000,000
National Lead Co—Stock common $25,000,000 authorized
Pref (also as to assets) 7% cum $25,000,000 red since
1910-_
National Sugar Refining Co of N J—Stock $10,000,000.
National Transit Co—Stock $6.362.500
Nev-Cal Elec Corp—Common stock $20,000,000 authorized
Preferred stock cumulative $10,000,000 authorized
First lien ser "A" $15,000,000 call 103
c»Ar»
$100
do
Series "B" $15,000,000redeemable 103-_.c»&r*
Convertible debentures (convertible into pref stock)
Ten-year secured notes red 103
xxxc*
^
Mortgage Bonds (Closed Issues)—
Nev-Cal Power Co. 1st
callable at 105 s f V.109 p,1077 c*
Southern Sierras Power 1st call 105 s f V. 109 p. 1077..c*
Nevada Consolidated Copper Co.—$10,000,000 stock..
x
100
1920
See text
1920
500
336,800
1,500,000
Ac
1907
1,000
1911
500 Ac
8g
REPORT.—For calendar year 1920, in V. 112, p. 1972, showed:
Calendar Years—
1920.
1919.
1918.
1917.
Total earnings.
$9,860,830
$9,063,182
$9,086,268
$8,604,623
4,577,071
4,031,165
3,945,614
4,446,495
adjus. 1,961,798
1,550,069
Pres.-, W. J. Judge; V.-P., Glenn Ford McKinney; Sec. & Treas., HJP.
Smith.
N. Y. office, 26 Broadway.—(V. 112, p. 1972.)
Net earnings, after taxes.
Reserve for depr. &
NATIONAL ICE & COAL CO., N. Y.—(V. 112, p. 264.)
NATIONAL LEAD CO.—ORGANIZATION.—Organized in New Jer¬
sey on Dec. 7 1891.
It controls extensive plants in different States tot
manufacture of white lead, Ac. V. 89, p. 223; V. 106. p. 1572, 1581. Alse
United Lead Co. (V. 84. p. 697, 160), Magnus Oe. (V. 100. p. 4021
U. S. Cartridge Co. of Lowell (V. 90. p. 631; V. 104, p. 1383; Y. 110, p.
1524), and Mathieson Lead Co. (V. 95, p. 115); Bass-Hueter Paint Co.
(V. 104, p. 1383), Carter White Lead Co., Williams Harvey Corp., and
Williams, Harvey & Co., Ltd., tin smelters; Baker Caster Oil Co., Cinch
Expansion Bolt & Eng. Co., River Smelt. & Refin. Co., Titanium Pigment
Co., Inc., and St. Louis Smelt. & Refln. Co.
During 1919 sold all of the
capital stock of Heath & Milligan Mfg. Co. and purchased the property of
Hirst & Begley Works.
V. 110, p. 1524.
STOCK.—Pref. is callable at par.
DIVS.—
V. 60, p. 349; V. 88. p. 1376.
1911 to '15. '16-17. '18. '19.
'20. '21
5
5
4H 3 yearly
4 y'ly
5
6
6
text
Also in July 1917 and 1918 1% extra to aid Red Cross distributions.
In Nov. 1918 paid H% extra to aid United War Work Campaign.
V.
107, p. 1750.
In 1921: March 31, 1^%; June 30. 1
Common
'06. *07. '08. '09. TO.
(%) |3
ANNUAL REPORT.—Report for 1920, in V. 112, p. 1394, showed:
1920.
1919.
1918.
1917.
Net, after 7% pref. divs._$3,029,776
$2,926,828
$2,987,073
$3,191,221
Divs. on common
(6%)1,239.324 (5) 1,032,770(*5)1032,770 (5)1,032,770
Surplus.....
.$1,790,452
$1,894,058
$1,954,303$
2,158,451
Excl. extra 1^% on acct. Red Cross and United War Work Campaign.
DIRECTORS.—E. J. Cornish (Pres.), G. O. Carpenter and R. P. Row*
(Vice-Presidents), E. F. Beale, R. R. Colgate, E. O. Goshorn,Chas. E.
Field. Walter Tufts, Geo. W. Fortmeyer, Fred M. Carter, G. D. Dorsey,
G. W.
Thompson, W. N. Tayior, J. R. Wettstein and Norrls B. Gregg.
(V.-Pres.)
Sec is M. Douglas Cole; Treas.,
office, 111 Broadway.—(V. 112, p. 264, 1394.)
F. R.
Fortmeyer.
NATIONAL LEATHER CO.—See Swift & Co. below and V.
1419, 1747; V. Ill, p. 195, 1956; V. 112, p. 379.
N.
Y.
110, p.
Places
Where Interest and
Dividends are Payable
Maturity
35
'18.
V)4
Jan. 1 1946
O Oct
N Y, Bankers Tr; Denv
Int Tr, Den, & BaTr.NY
International Tr Co,Den
N Y, San Fran & Denver
1 1950
Apr 1 1926
M"&"N
A
J
A
Nov 1 1930
O
N Y, Guar Tr, & Denver
N Y Chic & Denver
April 1 1927
J Sept 1
text
b Pledge under First Lien Mtge. additional to above, of
"a" 4 86,000, o f"b"
$686, 000.
Also pledged to secure 10-year 8% notes of 1920, $1,125,00 0 Serie s A and
$ 1,125,000 S eries
panies with markets in N. Y., Penna. and Canada. V. 108, p. 1799; V. 106,
p. 1799, 1800. Capital stock authorized, $32,000,000 (increased from $16,000,000 April 28 1917). V. 105, p. 2278.
Outstanding $18,500,000, par
$100.
Shareholders of record April 28 1917 were given the right to sub¬
scribe at par to 37,010 new shares in an amount equal to one-fourth of
holdings.
Diva. Q.-J. 15 at rate of 10% p. a.
Oct
&
A
al,621,000
bl ,833,000
9.997,285 See
5
NATIONAL
FUEL
GAS
CO.—ORGANIZATION.—Incorporated
Dec. 8 1902 in N. J., succeeding Natural Gas Trust.
Owns all or a ma¬
jority interest in the capital stocks of five gas producing and selling com¬
and
J"&"j
A
8«
200 Sec
DIRECTORS.—H. M. Keasbey, E. H. Straub, J. S. Crabs* A. S*
Beymer, W. L. Curry, D. M. Campbell, Sidney F. Heckert. Chas. G*
Mcllvain, E. W. Gwinner and W. M. Scaife.
Treasurer is J. P. Bobbins
and O. G. Jones is Secretary.—(V. 112, p. 854.)
*
8.369,500
7,146,100 See text
6 g
x8.593.000
100
100 Ac
1916
Last Dividend
Q—J
Apr 15'21 2H% Paid by check
June 30*211)4% 111
Q—M
Broadway, New York
24.367,600 7 in 1920
Q—M
June 15 '21 1)4
do
do
text
10,000,000 See
Q—J
July 2 1921 2)4 Checks mailed
6.362,500 See text J& D 15
See text
Checks mailed
100
12.60
1916
203
$18,500,000 10% 1929
20,655,400 6 In *20
100
.
a
BONDS
1936
Sept 30'20, 5%
bonds.
6%
DIVIDENDS.—On prer., 1915, 2%; 1916,
July, 2)4%; Oct., IH%;
1917, Jan., 1H%. completing payment of all dividends to Jan. 1 1917;
April 1917 to Jan. 1918, 1
quar.; Apr., July and Oct.. 1918. \M%
BONDS.—The 6%
First
Lien gold
norms,
series **A",(V. 102, p. 2171:
V.103,p.1035), onDec.31 1920 were secured by deposit of $12,152,000 bonds
on the
properties of which $5,192,000 have a first lien; also by $17,802,400
(over 99%) ©f their stock.
V. 109, p. 780, 1077; V. 107, p. 1290, 1196;
V. 106. p. 195.
Of the $15,000,000 Series "A" bonds authorized, $10,942,000 have been
issued; retired by sinking fund, $204,200; reserved to retire 1st Mtge, bonds
of the Nevada-California Power Co. and the Southern Sierras Power
Co.,
$4,058,000; owned by subsid. co., $221,600; in treasury, available for sale,
$1,923,200; outstanding, $8,593,000.
Corporation agrees to pay normal
income tax not exceeding 1 % and reimburses taypayer this amount.
Redemption Fund.—For the purpose of creating and maintaining a fund
be known as the "Redemption Fund," the corporation covenants and
that within 30 days after Feb. 1 and Aug. 1 of each year, beginning
1921, it shall deposit semi-annually with the trustee a sum at least
equal to
% of 1% of all First Lien bonds then outstanding.
The moneys In this
fund shall be applied by the trustee in purchasing bonds of Series "A" at
the lowest price obtainable, but not exceeding 103 and int., or in
redeeming
bonds at 103 and int., all bonds so purchased or redeemed to be canceled.
Of the $15,000,000 Series "B" bonds authorized, $1,288,000 have been
Issued, all of which are in treasury available for sale.
Bonds of Series "B" and each subsequent series may be issued for not ex¬
ceeding 80% of the actual cost of additions to properties when net earnings
of the corp., incl. combined net earnings of its subsidiary cos., for a period
to
agrees
of 12 consecutive calendar months out of the 14 consecutive calendar months
immediately
preceding such issue shall be equal to at least 1 % times the
interest requirements on all outstanding bonds and those proposed to be
Issued.
When all Series "A" bonds have been redeemed, proportion of net
earnings to interest charges shall be reduced to 1)4 times such interest
quirements.
re¬
Redemption Fund.—For the purpose of creating and maintaining a fund
as the "Redemption Fund," the corporation covenants and
that within 30 days after Sept. 1 1925 It shall deposit a sum at least
equal to 1% of the aggregate principal amount of all First Lien Series "B"
bonds then outstanding, and within 30 days after March 1 and Sept. 1 of
each year threeafter it shall deposit with the trustee a sum at least equal to
% of 1% of al. First Lien Series "B
bonds then outstanding.
The moneys
in this fund shall be applied by the trustee at the option of the corporation
in purchasing bonds of Series "B" at the lowest price obtainable but not
exceeding 103 and int., or for investment in permanent betterments or new
properties of the corporation or an underlying company.
All bonds so pur¬
to be known
agrees
chased
or
redeemed to be canceled.
Security.—Same as for Series "A" bonds.
See above.
The 10-year 8% notes of 1920 are secured by deposit with the trustee "of
$1,125,000 par value Series "A" and $1,125,000 par value Series "B" First
Lien bonds of the Nevada-California Elec. Corp.
Trust agreement pro¬
vides that the market value of the securities so pledged shall at all times be at
a
outstanding of 115 to 100.
The authorized $1,500,000 Convertible Debentures, due April 1 1926, were
ratio to the face amount of the notes
callable at 105 and int., until April 1
and were convertible until April 11919
stock and $100 debentures.
1919 and thereafter at 102 and int.,
into pref. stocx in the ratio $150 pref.
Notes of Nov. 1 1920, V. Ill, p. 2048.
NATIONAL OIL CO. OF NEW JERSEY.—(V. 112, p. 567.)
NATIONAL
New Jersey on
Co.'s (Doseher)
SUGAR REFINING OF NEW JERSEY.—Incorporated Id
June 2 1900 and took over the New York Sugar Refining
refinery. Long
Island
City,
the Mollenbauer refinery
Brooklyn, N. Y. (dismantled as a refinery In 1918 and leased for warehouse
purposes, V. 109, p. 178), and the National refinery, Yonkers, N. Y. Ameri¬
can Sugar Ref. Co. in Dec. 1920 owned $2,428,900 stock. V. 91, p. 1577;
V. 92. p. 1377; V. 93, p. 535; V. 98, p. 307.
REPORT.—Year 1920 showed:
Calendar Year—
Operating
NATIONAL TRANSIT CO.—ORGANIZATION. Ac.—Incorp. in Penn
•ylvanla in 1881.
Owns pipe line in Penna. Formerly controlled by Stand
ard Oil Co. of N. J., segregated in 1911.
V. 85. p. 216, 790; V. 93. p. 1390.
On Feb. 2 1916 shareholders voted to reduce the capital stock from
$12,727,575 to $6,362,600 by the retirement of 103 shares and the reduction
of the par value of the remainder from $25 to $12 50 per share and the
payment of $12 50 in cash to the stockholders.
The National Transit
Pump & MachineCo. was incorporated in Penn. on Nov. 26 1915; capita)
stock, $2,545,000 (Increased on April 1 1918 to $3,181 00Q)
in $25 sharee
to take over ihas consent of Penn. P. 8. Comm.) the company's plant
at Oil City
Pa., for the manufacture of pumps, engines, compressors,
tools, fitting*, Ac.; all of the capital stock will be held by
he National
Transit Co.
V. 101.
1890. 2L49
V 93 j p. 669
DIVIDENDS.—1912 to 1914, 12% per ann.; 1915, 8%; then none to
15 1916. when 4% was paid; 1917, 8%; 1918, 16% (8% s -a ); 1919,
40%; 1920, 30%; March 1921, 4%
Dec.
REPORT.—For calendar
1920.
year
1919.
1920, in
V.
1918.
112, p.
2197, showed:
1917.
NEVADA CALIFORNIA ELECTRIC CORPORATION.—{See
Map.)
—ORGANIZATION.—Incorp. in Delaware on Dec. 14 1914, and has
brought under one control and management (V. 102, p. 2171), hydro¬
electric and steam plants having a capacity of 64,142 h. p., with approxi¬
mately 2,119 miles of transmission and distribution lines, serving territory
indicated on accompanying map.
V. 105, p. 1314; V. 106, p 195, 1131;
V. 107, p. 1196, 1668; V. 109, p. 2176.
STOCK,—Pref. stock is entitled to cumulative dividends at rate of 7%,
and, in the event of liquidation, has preference over common stock to par
accrued dividends.
Dividends
$2,158,707
1,036,452
1917.
$1,997,969
919,878
$1,405,761
$1,122,254
$1,078,091
$685,647
$635,611
$549,775
204,301
118,553
121,318
93,102
62,357
Cr.12,572
108(5}^) 318,271 (6%) 352,006
521
...
1918.
$2,584,181
1,178,420
$1,630,588
$716,368
222,435
44,932
Depreciation
Discount & adjust'ts.
Net increase in surplus
$646,332
$122,603
Int. in earns, of oth. cos.,
additional
profit26,193
profit3,689
def$12,537
sur$67,564
loss27,527
loss2,415
Pres., E. 8. Kassler; Treas., Lawrence C. Phipps Jr., Denver, Colo.—
(V. 112, p. 939.)
NEVADA
Utah
CO.—ORGANIZATION.—
Lands comprise 1,589
owned by
Flotation suit, V. 109, p. 1084.
CONSOLIDATED
Incorp. Nov. 17 1904 in Maine
COPPER
consolidation.
as a
Of the outstanding stock, $5,002,500 on Dec. 31 1920 was
acres.
Copper Co. (see below).
Notes.—Guarantees $1,780,000 8% notes of
Inc.
V.
112,
Copper Export Association,
655.
p.
REPORT.—For
1920:
1918.
1919.
1920.
1917.
43,971,892
76,607,062
82,040,508
$8,535,728 $16,787,656 $20,279,722
Net for distribution
235,904
1,110,407
3,459,880
9,937,599
Dividends
1,499,593
2,999,185 i 6,498,235
8,297,747
The mines were shut down during August 1919 on account of a strike.
Copper produced (lbs.). 48,311,985
Total revenue
$9,067,025
1916.
$2,723,025
$1,620,963
$820,405
$1,208,891
Divs
(20%)1,908.750(40)2545.000(16)1018,000
(8)509,000
(4)254,500
Pres. & Gen. Mgr., F. D. Williams; Treas.. D. R. Mackenzie; Sec. 8. R.
Ball.
Directors: 0. C. Baker, T. L. Blair, S. R. Ball, D. R. Mackenzie,
C. E. Martin and L. C. Longaker.
Office, Oil City, Pa.—(V. 112, p. 67,
751, 2197.)
Net earnings$2,703,424
profit
Deductions—interest
STOCK.—V. 92, p. 32
,666, 1377; V. 95, p. 115, 424,1276, 1406.
Divs.
on new stock, 1)4%.
paid Apr. 1913 to Oct. 1917; Jan., 1918 to Apr. 1920,
l3A% quar.; July and Oct. 1920, 3)4 %\ Jan., April and July 1921, 2)4%.
Divs. on old pref., 1)4% (Q-J). paid Oct. 1900 to Jan. 1913, incl.; divs. on
old com., 10% in 1903 and 15% in 1904.
No bonds.
Balance sheet Dec. 31
1912, V. 96, p. 419.
Pres., J. H. Post;*V.-P., Thomas A. Howell; Treas.,
H. F. Mollenhauer; Sec., Geo. R. Bunker.—(V. Ill, p. 698, 1956.)
1919.
1920.
Earnings from all sources $3,080,131
Expenses and taxes
1,449,543
Production (Lbs.)—
-
'15. '16.
T7.
'18. '19.
22X 27X 35 40(10qu.) 65 30
2H 40 40(10qu.)
*10. '11. '12. *13. '14.
Regular .percent 30
Ixtra, per cent
30
30
10
30
10
V.
contributions.
108, p. 977.
Dec.
In
Mar.
m
paid 37)41 cents (7)4%)
reduced to 25 cents (5%)
'
112, p.
^
„
_
quar.
quar.
,
C. V. Jenkins.
Office, 25
168, 658, 751, 854, 1030, 1405, 1623,
Pres., D. C. Jackling, N. Y.; Sec. & Treas.,
1747, 1873, 2197.)
15
1917, one-half was capital disdeclared payable July 25 for
1919
In Mar. 1920 div. was
1920 div. passed.
Broad St., New York.—(V.
1920.
--
Of the 10% extra dividend paid June 30
•rlbution.
A special div. of 15 cents was
Cross
1920.
3,700,000
11,731,938
V. 112, p. 1350.
Note.—Operations were suspended Apr. 1 1921.
DIVS—
fced
'
1921.
—2,940,000
8,940,000
March
3 months
H2.
INDUSTRIAL STOCKS AND BONDS
204
/v
*\
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CALAVERAS
V
VJ/ CL'ARA^lr
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.
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L.
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SANT/
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Santa Barbara
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4'Ventura
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(EL
ATRONA
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SANTA CATAUNA
j I Sautamna
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fAwifflr
yjurmMif;
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Ludlow
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\
IMPERIA.l&C^
(NILANbm^
I
°i*i
-•"Si*1'
%
BVYTH E -W,
V
-■VVV.y^
PROPERTIES
AND
Scale of Miles
J
10
1
1
30
40
POWER
L
20
DEVELOPMENTS
50
OF
LEGEND
THE
Power Houses
Proposed Power Houses
Transmission Lines
■ ■■■■■
Proposed Transmission Lines
H. P. Co.—Holton Power
C. V. I. & E.
Co.
(
Co.—Coachella Valley Ice and Electric Co.
NEVADA-CALIFORNIA
ELECTRIC CORPORATION
AND
AND
ITS
SUBSIDIARY
AL-L-IED
COMPANIES
MAY, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
IFor abbreviations, &c,, see notes art page 6]
«•» Central Coal—Stk
STOCKS AND BONDS
Date
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
»1.OUO.OOO(V60.p9O1.114U;V64.d515)
New England Company—Common stock
First pref (a A d) stock cum 54
% till 1919. then 6%
2d pref (a A d) stock cum 4% &
partic (V 102j>984, 2172).
Mass Co Oollat Trust assumed callable at
105OBxxc*
New England Co 1st A Ref
mtge
S20
SI.000.000 See
100
text M
5.000.000
100
100
1,437.100
2.720.000
57.000
41,000
4%
1915
1.000
2,684.000
6g
100
4.062,400
6
1911
1,000
7,738,000
100
OBc*
1907
Five-year notes (extended)
Bellows Falls Power Co pref stock callable at 105
Collat trust callable at par gold (V.
109, p. 273)-OBxxc*
1.000
714.0110
1,851,000
1915
__
107
Falls Mt Electric Co 1st M
few England Telephone &
Bonds 11,000,000
1904
s
%
Bonds J10,000,000
Brake—Stock S13,000,000
lew York Air
1900
1912
1908
1.000
100
100
&
MAN
8
8'
&c
3.000.000
-
6*
....
_
NEW
CENTRAL COAL.—Incorporated In West Va. in June 1911.
92, p. 1569; V. 93, p. 875.
Owns coal lands In Allegheny County, Md.
7. 66. p. 901. 1140; V. 64. p. 515.
*11. *12.
*13. *14. *15. *16. *17 '18.
'19.
444322442
New York office, 17
Battery Place.—(V. 104,
p.
'20. May'21.
2
1
1596.)
NEW CORNELIA COPPER CO.—See Calumet 8c Arizona
Copper Co.
and V. 112, p. 1405.
NEW ENGLAND COMPANY POWER SYSTEM.—A Massachusetts
voluntary association (created in May 1914 per plan in V. 100, p. 984)
and owns, in addition to undeveloped water rights on the Deerfield
River,
the entire common stock of New England Power Co.
($3,800,000), Conn.
River Power Co. of N. H. ($1,500,000) and Rhode Island Power Transmis¬
sion Co. ($500,000 only one class outstanding, and
85% of the $150,000
common and practically all of the $650,000
pref. stock of the Bellows Falls
Control
is
thus
held
of the
several
below mentioned.
operating corporation*
The
system so formed constitutes the largest hydro-electric develop¬
ment in the U. S. east of Niagara Falls, with generating stations on the
Connecticut and Deerfield rivers, having installed capacity of over 75 000
a.p.. and controlling power and reservoir sites capable of the contemplated
velopment of an additional 125,000 hp.
In addition a large amount
developed power Is under contract to the system.
Over 350 miles
if transmission lines, six generating and 11 sub-stations and a
large
3
jf
reservoir are operating to serve about 100 cities and towns in Central
New England (in Mass., Conn., R. I., Vt
and N. H.)
whicb arj sup¬
plied wholly or in part by the system through contracts with large commerlial users and with local electric-lighting
companies, electric and steam
•all ways, notably in Worcester. Fltchburg, North Adams.
Mass., and
Providence, Woonsocket and Pawtucket, It. I.
(See V. 105, p. 1714;
V. 106, p. 2762.)
Has agreements for Interchange of power, see V. 108.
p. 1273.
Pres. H. I. Harriman in March 1921 stated that the consolidation of the
three companies was being sought.
Y. 112, p. 1030.
Properties Comprising 8vstem.
New England Power Co.—Has in operation on Deerfield River five geniratlng stations (one completed in 1916) and a storage reservoir of some
13 billion gallons capacity.
The five operating stations will utilize about
S10 ft. of fall and have a generating capacity of over 48,000 h.p. out of a
tontemplated development of over 100,000 h.p. some 1.050 ft. of fall being
In Aug. 1919 an additional unit at the Uxbridge
was put In operation,
increasing the capacity of that station to
k.w.
Also owns about 278 miles of transmission lines in Massachusetts
acquired
by merger of Conn. River Transmission Co. in April 1916.
Connecticut River Power Co.—Plant located on Connecticut River belo
it
Brattleboro. Installed capacity 27,000 h.p. with dam. storage basin anw
4bout 60 miles of transmission lines in New Hampshire and Vermont.
Two new units of 6,000 h. p. each placed in service April 1921
making total
installed capacity 39,000 h. p.
109. p. 273.
Rhode Island Power Transmission Co.—Distributes the power sold in
Rhode Island by means of high-tension steel transmission lines and a
largt
sub-station for transforming purposes.
aaw
STOCK OF NEW ENGLAND CO.—See table above.
The first
pref.
stock. $1,437,100. was exchangeable for $650,000 guar. pref. stk. of Bellows
Falls Power Co. and also is 1 suable on request for conversion of
10-year 6%
lebentures due Nov. 1 1925 (see below).
The 2d preferred is entitled to
1% p. a. (cum.) and after 4% Is paid tn any year on common is entitled to
rate for that year as paid on common up to 5% and above 6% to
one-half the rate on common.
Both pref. stocks of the New England Co.
(as also the pref. stock of the New England Power Co.) had In May 1921
received their full dividend regularly from organization to date.
same
BOND8 AND NOTES.—The New England Co. First 8c Ref. M. 5s (V
1997)
p.
had
In
May 1921
been
practically
all
redeemed.
The
•onvertlble 6a of 1915
are convertible Into first
pref. stock par for par at
time; they are callable at 1024 and int.
Auth., $4,000,000. eee V. 104,
p. 2238: V. 102, p. 158.
New England Power Co. 1st M. 0. fd. 5s are callable at 105 and Int. on
any int. date.
Auth., $14,000,000.
V. 106, p. 2233.
V. 107, p. 700; V.
103, p. 243; V. 102, p. 1721; V. 98, p. 308.
Conn. River Power Co., see
V. 89, p. 165. and 6%
coupon notes,
V. 100, p. 1440; V. 107, p, 1749.
Bellows Falls Power Co. ana Falls Mt. Elec. Light & P., V. 96,
p. 64.
any
REPORT.—Cal. year 1920 In V. 112, p. 2079:
Earnings of All Properties Comprising New England Co. Syst. (V. 104, p. 367.)
K.W.H. output
Gross earnings.
Net
earnings
Bond interest
Other
interest
Accrued
Boston
8c
1954
Philadelphia
Boston. Old Col
J
&
D June 11937
O Apr 1 1923
15 M. 15/21,2
&
A
Ap 15/21,14% Boston
July 1 1951
Boston
D Dec.1/20,
3%
J
Tr
Co
J
1
Philadelphia
Philadelphia
34%
July 1 1922
O April
8c
Boston and
Boston
Boston, Old Col Tr Co
Nat Bank. Bellows Falls
1924
MAN May 1 1928
Text
Febl5'2l, 2
Central Union Tr
Oo.N^
U S Mtge 8c TrOoNT
15 Jan 15 21 2
do
do
F
&
A Aug 1 1951
do
do
w—SeeO onsolldated Gas
Co
MAN May 1 1946
N Y, Office Del L & W
J
A
J Jan
1 1946
do
do
J
A
D May 1 1946
do
do
J
A
J Jan 10 1921 3% Checks mailed
J&J
MAN
May 1 1941
Western Union Tel, N Y
co.
doea
telephone business In Maine, New Hampshire. Vermont and Massa¬
Telephone stations owned Dec. 31 1920, 726,145,
connecting,
&c., 74,588; total, 800,733.
Of the capital stock, $38,514,000 on Dec. 3£
1920 was owned by Amer. Telep. & Teleg. Co.
V. 70, p. 40.
Owns all the stock of Providence
Telephone Co.
V. 101, p. 532, 1473.
CAPITAL STOCK.—The stockholders on Feb. 16
1921 approved an
increase in the auth. capital stock from $75,000,000 to
$100,000,000.
Stockholders of record Aug. 28 1917 had the
right to subscribe at par on
or
dividends
Balance.
,
1920.
1919.
1918.
1917.
431,000.000 357,000,000 323,000,000 300,000,000
$5,956,444
$4,218,968
$3,557,281
$2,645,973
1,676,208
1,512,088
1,322,881
1,144,195
494,060
485,829
463,918
440,963
318,879
278,897
200,751
156,781
668,695
627.967
402 027
387 212
194 573
119 396
256 185
159 239
Annual Kilowatt Hour Output and Cross Earnings Since 1910.
1910.
1912.
1914.
1916.
1920.
Kilowatt hr.
output —34,000,000 64,000,000 *120,000,000 *246,000.000 *431,000,000
$270,000
$514,000
$982,000
$2,068,000
$5,956,444
Gross earns.
♦These figures do not include the water output at Bellows Falls.
OFFICERS,—George S. Smith, Boston, Pr&s.; G. B. Baker, Boston.
Malcolm G. Chace, Providence, V.-Pres.; Wm. W. Brooks.
General offices, 50 Con¬
gress St., Boston.
V.-Pres.;
Boston, Treas.; R. Y. FitzGerald, Boston, Sec.
Trustees and Shareholders Committee.—Charles L. Ayling. George B.
Baker, Win. W. Brooks, Stedman Buttrick, R. Y. Fitz Gerald, Henry I.
Harriman, Roland O. Lamb, George S. Smith, Philip Stockton, Philip
Young all of Boston; Geo. B. Adams Adams Mass.; John S. Phipps and
L. H. Shearman (W. R. Grace & Co.)' all of New York; Malcolm G. Chace
V.-P., Providence; J. Sloat Fassett, Elmira, N. Y.; Geo. K. Johnson,
Philadeljpbia; Arthur H. Lowe, Fitchburg, Mass.; .S C. Moore, Gen. Mgr.,
Worcester; Geo. N. Kimball and Frank S. Streeter, Concord, N. Y.—
(V. 112, p. 67, 1030, 1873, 2197.)
1
before
Sept. 22 for $11,100,500
DEBENTURES.—These
are
new stock.
to be secured
See V. 105, p. 824.
any mtge.
V. 95, p. 1043.
by
DIVS. / '96. *97. '98-'09. '10. *11.
1912 to June 1920.
Sept. '20 to Mar'2l
Per ct.(
5
54
6 yly.
6 6M 7% yly. (lfc% Q.-M.)
2% quar.
REPORT.—For calendar year 1920:
Cross
Net (after
Other
Calendar
Year—
Interest Dividends, Balance,
Earnings.
Taxes, Ac.)
Income. Rentals,Ac.
(7%). Surplus.
$33,606,340 $6,388,426 $667,556
$918,437' $4,984.207$1153,337
1919
28.367,077
5,181,080
726,768
857.815
4,651.927
398,106
1918
24,586,179
5,333,940
725,597 1,080,598
4,390,479
588,460
1917
22,649,935
4,662.489
499,780 1,049,456
3,982.496
130,317
Pres.. Matt. B. Jones.
Office, 50 Oliver St., Boston.—(V. 112, p. 476,
751. 1030, 1623, 1747, 1873.)
1920
NEW JERSEY ZINC CO.—(V. 112, p. 67. 476. 568,
751, 1623, 1983.)
NEW YORK AIR BRAKE CO.—Incorp. under laws of New
Jersey.
ear brakes a day; also
100x802 ft.
V. 106, p. 2460.
The Jefferson
Munitions Co., a subsidiary, in Jan. 1918. took over the new
plant at
Watertown, N. Y.
V. 106, p. 402.
In 1912 the Westinghouse Air Brake
Co. granted a general license under its U. S.
patents.
V. 95, p. 748;
V. 96, p. 551. In 1918 erected 5 new
plants for the manufacture of shell
forgings, gun mounts, Ac.
In 1919 at small expense wag preparing to use
these facilitias for the building of motor trucks and motor cars on a
con¬
siderable scale.
V. 109, p. 1798.
Sale of war plants, V. Ill, p. 1477.
Works at
new
Watertown, N. Y.; capacity. 500 sets of
plant built
In
1917,
DIVS. '99-'07. '08-'09. '10. '11. '12. '13-'15. '16. '17. '18. 19-'20.
1921.
Percent.8 yrly.
None
3
44 1)4
6
114 20
20
10
text
In 1921: Mar. 25, 24%The directors in May 1921 recommended a
5% rate.
See V. 112, p. 2197.
BONDS.—V. 86, p. 725, 797, 921, 1104.
1920),
Notes payable (as of Dec. 31
$4,564,789.
REPORT,—Report for year end. Dec. 31 1920, in V. 112. p. 1393, showed
Calendar
Sales,
Net, after
Dividends'
Bond,
Balance,
Year—
Ac.
Taxes, Ac, Interest.
-$6,575,917 $1,231,120 $479,260
4,465,512
603,815
180,000
10.464.508
2,232,553
180,000
10,269,330
2,073,826
180,000
1920
1919
1918
1917
Paid.
Surplus.
(10)$973 877def$222 017
(10) 965,3l3def 541,498
(20)1,937,715
114,838
(20)1,986,980 def.93.154
DIRECTOR8.—Pres., O.
Bellows Falls Power Co.—Water-power on the Connecticut River
(fall over
ft.), capable of re-development on modern hydro-electric lines.
V
98,
May 1
chusetts.
controlled by the system.
station
SO
Payable
a
DIVIDENDS.—
Percent
15.000
D June 1 1937
N Nov 1 1925
NEW ENGLAND OIL REFINING CO.-^(V. 112,
p. 1523.)
NEW ENGLAND TELEPHONE & TELEORAPH CO.—This
.
Co.
&
&
100
7.000.000 See text
100
10.000.000
5
First mortgage $13,000,000 gold call at 105
Usm.xc&r
1901
500 &e
4 g
12.550.000
New York & East River Qas Co—New York Edison Co— NewY
ork Gas. Elec Lt, H eat & Po
N Y & Hoboken Ferry Co—Hobok Fy 1st con M red.llsm.zc•
1896
1,000
5
4.100.000
N Y & New Jersey Ferry two mortgages (V 82, p 164)
z
1896
1,000
5
1,000,000
Gen M gold S4.000.000
z
1898
1.000
3.300.000
5 g
R Y Mutual Gas Light—Stock (bonds see Consolidated Gas)
100
3.409.700 9 In 1920
N Y Mutual Tel—Mut Union Tel 1st M gu p & I ext In '11. N.c
1881
1.000
5 g
5,000,000
Power
are
N May 2 1921 20c. Co's
Off. 17 Batt PI, N Y
66,472,700 See text
Mar 311921 2% 50 Oliver
Q—M
Street, Boston
J
A
4
J Jan
1,000,000
1 1930
Merchants Natl Bank
A
10.000.000
A
O Oct
5g
1 1932
Old Colony Tr Co Boston
text
10.000,000 See
See text
Q—M
Office, 165 B way, N Y
1.000
authorized
First M S3.000.000 gold convert text to July I 1914__xCe
New York Dock Co—Common stock S7,000.000
Preferred stock 5% non-cum (text)-.
Uzm
Where Interest and
Dividends
J 15
8c
I'
65.000
I(¥)
Telegraph—Stock S100.000.000-
8c
M~ A~
I
31,400
550.000
1.000
J
I*
486.00(1
166
1912
Places
1921, 2%
M&N"l5 May 1921, 3% Boston
J
& J15 Jan. 1921,
do
2%
6%~
1.000
d) stock 6% cum
1st M S14.000.000 g skg fd callable at 105
NBc*
Conn River Power Co. 6% pref (a &
d) stock SI.200.000
1st M (closed) sinking fund callable at
Last Dividend
and Maturity
May
1907
Ten-yr debentures g conv into 1st
pref call 10214 OBc*
System Securities Not Owned by New England Co—
New England Power Co pref (a &
&
205
A. Starbuck, 165 Broadway; V.-P., John O.
F. S. Flower, N. F. Brady, G. W. Mead. Wm. N. Shaw. Elon
Rosen and Le Roy W. Baldwin.—(V. 112
p. 264,
568, 658, 1030, 1393, 2197.)
Thompson:
R.
Brown
Walter T.
NEW YORK DOCK
CO.—ORGANIZATION.—Incorporated In N. Y.
State on
July 18 1901 as successor of the Brooklyn Wharf & Warehouse Co.,
foreclosed and reorganized per
plan V. 72. p. 937.
V. 73. p. 239. 1355.
Owns water frontage In Brooklyn, about
24 mile* in length," of which
157 feet leased, with 10 miles of railway tracks, 159 bonded and free
warehouses having 116.2 acres of floor
space, 34 piers (the longest 1193 ft.)
20 mfg. buildings, and cold storage.
V. 90. p. 1365; Y. 106. p. 1794.
The railroad department was acquired Oct. 1 1912 by New York Dock
Ry., which is controlled by the New York Dock Go. V. 96, p. 1217, 1477;
V. 96, p. 1026.
STOCKS and BONDS.—Com. stock, $7,000,000; pref., 6% non-cumu¬
lative, $10,000,000, all In shares of $100 each. After 5% on both stocks;
they share equally.
Bonds, $450,000 in treasury Dec. 31 1920 with further
$12,550,000 outstanding.
DIVIDENDS./ '06. '07. '08. '09. *10. '11. '12-'16.
%\ 34
4
44 4
4
24
None
On preferred,
On common,
Div. No. 1
p.
'17. '18. *19/20. '21.
2
54
6
5 See
%[
24 24 text
was paid on common stock Feb. 15 1919, 24%.
V. 107,
Feb. 16 1920, paid 24%, and Feb. 15 1921, paid 24%.
2480.
REPORT.—For calendar year 1920, in V^ 112, p. 1873,
showed^
Gross
Pr ferred Common
Total
Balance,
Years—
D '• ■ 'dends. Dividends.
Net Income.
Earnings.
Surplus.
1920
$5,447,400
$1,069,070
$394,070
$511,000
$175,000
1919 __r
509.000
921,944
4,819,385
175,000
246,944
1918
4,989,462
1,084,989
500,000
409,989
175,000
1917
4,423,035
1,016,687
516,687
500,000
.
Calendar
OFFICERS.—•Chairman, F. 8. Landstreet: Pres., William EL Halm;
V.-Ps., C. D. Hoagland and C. O'D. Iselin; Sec., Edwin Thorne; Treas.,
M. Mortimer.
Office, 44 Whitehall St. (Manhattan), N. Y.—
(V. 112, p. 1289.)
Wm.
NEW
YORK
EDISON
CO.—See Consolidated Gas Co.
NEW
YORK & HOBOKEN FERRY CO.—Incorporated Nov. 10 1898.
77, p. 454.
In April 1903 Del. Lack. & West RR. acquired entire
$3,300,000 stock.
Of the $4,000,000 general 5s of 1898, $700,000 were re¬
7.
served for
N.
Improvements; all
Y. MUTUAL OAS
are
redeemable at 110.—(V. 82, p. 164.)
LIOHT.—See CONSOLIDATED GAS.
NEW YORK MUTUAL TELEGRAPH.—Successor to the Mutual Union
The stock carries dividends of 6% per annum under a lease
years from Feb. 15 1883 (with privilege of renewal for 999 years from
1883) to Western Union Telegraph.(V. 93, p. 108).
Telegraph Co.
for 99
N.
Y.
&
RICHMOND
GAS
CO.—(V.
112,
p.
379.
658.
1523.)
NEW YORK SHIPBUILDING corp.—ORGANIZATION.
Incorp.
in N. Y. Nov. 28 1916 and took over (V. 103,
p. 2159) the entire assets, Ac.,
nf the New York Shipbuilding Co. of N. J., with modern plant on the Dela¬
River near Camden, N. J.
V. 107, p. 507; V. 108, p. 1821.
Litiga¬
tion, V. 106, p. 1349.
Purchase from U. 8. Shipping Board, V. 110, p. 267;
Control.—Controlled by American International Corp. (V. 103, p. 2338),
ih i International Mercantile Marine Co., W. R. Grace A Co. and the
/acific Mall SS. Co., which concerns control directly or indirectly American
ware
Due. Atlantic Transport Co., Pacific Mall and W. K. Grace A Co. steamers.
STOCK.—Offered In N. Y. in Dec. 1916 at $47 50 per share. V. 103.
p. 2159.
Auth. and issued. 200,000 shares, no par value.
Queens Electric Light
New York &
& Power—See Consoll
Co—Stock
New York Transportation Co—Stock
Newark (N J) Consol Gas Co—See "Electric Ry" Section
Niagara Falls Power Co—Common consolidated stock—
Preferred (a & d) stock 7% cum callable (all) at 110
1st A Oonsol mortgage $75,000,000 (see text)—
do
do
Series AA auth $15,000,000 red 105-xxxc*
Bonds Issued and Issuable on Constituent Properties—
Niagara Falls Power Co (old co) first mtge gold
Ce.x
Ref & Gen M $20,000,000 <V 88. p 1441)gold.Ba.xc'&r*
Hydraul Pow Co 1st A Ref M call 110 aft July 1 '20.xc*Ar
Ref A Impt $10,000,000 call at 105 after Oct 1 1921__xr
Riat Lock & Ont P Co—lstM$5,000,000g red llOsf text.Gxc*
Salmon River Pow Co 1st M $5,000,000 g guar p & l.. Colx
Ref mtge $15,000,000 g sink fd series A call 110--Eq kk c*
Nlair & E
P. 1st M $1,250.000g H gu sf red 105text_ .ti.xcV
NUes-Bement-Pond Co—Stock com $8,500,000 (V 83, p 1350)
$
1909
See
2,350.000 See
14,492,200 See
11,515,400 V!:
7
10,000,000
6
100
500 &c
1920
500
1891
1904
1912
1918
1911
paid on pref. stock Mar. 1 1919, $1; July 15 1919, $1;
then from March 1 1920 to June 1 1921, $1 quar.
BONDS.—Of the total authorized issue of $25,000,000 bonds, $7,500,000
were issued in payment for the purchase of the predecessor company s prop¬
erties, &c.
Remaining bonds may be issued from time to time for addi¬
tions or improvements at not in excess of 75% of actual cost, only when net
earnings are twice bond interest (V. 105, p. 1109) $774,000 retired to Dec.
Dividend No. 1
I-,','"- r:1:
.
ended Dec, 31 1920 was $2,826,698
($4 per share), $800,000: surplus, $2,026,698; total surplus, $5/
Federal taxes for 1920 (est. at $1,790,000) are not included in
EARNINGS,—Net income for year
dividends
184,671.
statement.
V. 112, p. 658.
%T
,
,
_
OFFICERS.—Geo. J. Baldwin, Chairman; Marvin A. Neeland,
V.-P.; N. de Taube V.-P.; W. G. Groesbeck, V.-P.; J.
Wickersham, Treas. & Sec.
Office, 120 Broadway, N. Y.—(V. 112,
above
Pres.;
Tp.658.)
NEW YORK TELEPHONE CO.—ORGANIZATION.—A consolida
tion in Sept. 1909 of all the "Bell" telephone companies operating in State
of New York.
See V. 91, p. 151, 157; V. 93, p. 1263.
Owns all the stock
of the Delaware & Atlantic Teleg. & Teleph. Co. and $52,844,000 of the
$60,000,000 stock of Bell Telephone Co. of JPenna. (V. 96, p. 556).
Con¬
trols Empire City Subway Co. (V. 92, p. 1569; V. 93, p. 167, 474, 1263).
Total stations, including service and connecting stations, Dec, 31 1920,
I,754,085.
Federal T. & T. system of Buffalo was taken over Mar. 1 1918.
V. 107, p. 86; V. 106, p. 1039; V. 103, p. 1215, 1415.
Installation of auto¬
H. A. Magoun,
matic telephone system
V. 107, p.
in N. Y. City inprogress.
2014, 2457; V. 109, p.
186; V. 106. p.
V. 110, p. 1532. Rates,
986, 1371; V. 111. p. 595,
1477, 1571, 2431; V. 112, p. 1405, 1747.
STOCK.—Authorized, $250,000,000 (as increased in May 1921); out¬
standing, $150,000,000 (par $100), all owned by American Telep. & Teleg,
Co.
V. 89, p. 781, 849; V. 90, p. 1242; V. 98, p. 1997.
1089, 1189,
DIVIDENDS.—In 1910 to and
including Mar. 1921, paid 2% quar.
to $75,sinking fund),
valued at
approximately $32,242,000) plant, lines, underground conduits, franchises,
Ac.
This mortgage, however. Is subject In part to the outstanding mort¬
gage Indebtedness of bonds listed below, covering properties acquired from
other companies.
Issue subject to call in whole, but not in part, at 110
and Int. on any M. & N.
V. 89, p. 849, 924, 1351; V. 90, p. 773; V. 91,
p. 131; V. 94. p. 1510; V. 95. p. 548 . 753; V. 102, p. 1815: V. 103, p. 1122.
BONDS.—The "First & Gen. Mtge." made in 1909 is limited
000.000 (all to Jan. 1 1921 issued and $3,300,650 retired by
having a first lien on entire property (Including real estate
Underlying Bonds—Dec.
31
Outst'ding.
Int.
1920-
Maturity.
1 1926
Feb.
$212,000
f__5 FAAz
Nov. 1 1929
449,000
4 MANz
1.100
Apr. 1 1921
Cortland Home Tel. Co. 1st M» gold __5 AAOz
Apr. 1 1923
40,500
Utlca Home Telep. Co. 1st M. gold
5 AAOxx
Jan.
1 1927
11,000
Albany Home Tel. Co. 1st M. gold..—6 JAJxx
1 1927
Jan
11.500
Oohoes-Waterf. HomeTal.Co. 1st M. g._6 JAJxx
The $25,000,000 6% debentures sold in Jan. 1919 are to be secured by
any new mortgage ratably with any other indebtedness secured thereon.
The sinking fund to which $375,000 must be paid annually will, it is said,
with interest on the amounts retired suffice to redeem the entire issue by
maturity.
V. 108, p. 176, 274.
Reacquired to Dec. 31 1920 and held
N. Y. & Pa. T. A T. Co. 1st M. g. s.
do
do
Gen. M. gold
alive in sinking fund,
$618,800.
112. p. 1974, showed:
Net after
Other
Interest
Taxes, &c. Income.
Charges.
$
$
$
REPORT.—For 1920, in V.
Gross
Earnings.
$
1920
87,906,465
1919*—75,065,893
Cal.
Year.
6,681,54912,000,000 5,483,026
12,966,125 7,541,628 5.300,590
Balance,
Dividends
(8% p.a.)
Surplus.
$
$
6,094,502df5929,927
12,000,000 3,207,163
1918*—66,691,095 12,419,887 7,477,735 4,788.119 11.000,000 4,109,503
1917
62,961,006 14,293,333 6,008,994 3.924,837 10,000,000 6,377,490
♦During the last 5 months 1918 and the firsv 7 months 1919 the company's
property was controlled and operated by the Federal Govt, Compensation
received from the Govt, during this period was sufficient to meet all interest
and div. charges.
Above statements show the results of telephone oper¬
ations during the years 1918 and 1919 without regard to the effect thereon of
Federal control and operation.
Pres., Howard F. Thurber; General Auditor, J. S. Wiley.
N. Y. office,
15 Dey St.—(V. 112, p. 659, 1405, 1747, 1974, 1983, 2197.)
NEW YORK TRANSIT CO.—ORGANIZATION, Ao.—Incorp. In New
Owns pipe lines In States of New York and New Jersey.
Formerly controlled by Standard Oil Co. of N. J., but segregated In 1911
York In 1892.
BeeJSfcandard Oil Co. of N. J.. V. 85. p. 216. 790;
DIVS. (cal. yrs.)T2.
T3.( T4. '15. T6. T7.'
Regular.
40
40
34 17
16
16
Extra
In
V, 93. p. 1390.
'20.
'18. ' "'19.
16
16
16
2
4
6
1921: Jan. 15, 4%; April 15, 4%; July 15, 4%.
......
4
1921
See
text
REPORT.—For 1920:
Calendar Years—
Net income
.
Dividends.
.
1917.
1920.
1919.
1918.
$1,461,619
$643,200 _$1,028,848
$914,294
(16 %)800,000 (20) 1,000,000 (20) 1,000,000 (20) 1,000,000
.
Bal., sur. or def__ def.$156,800
sur.$28.848
S. Bushnell, Pres.; D.
W. F. Livingston, Treas.
(V. 112, p. 67, 659, 751.)
OFFICERS.—D.
Ohesebro,
Sec.;
NEW YORK TRANSPORTATION
def.$85,706 sur.$461,619
M. Sachs,
Office, 18
V.-Pres.; George
B'way, N. Y.—
CO.—(V. 112, p. 1523.)
Oct. 31
Hydraulic Power Co. and Cliff
POWER CO.—Under this title consolidated
1918 the old Niagara Falls Power Co., the
Electrical Distributing Co., per plan in V. 107, p. 1291, with capitalization
shown in table at top of page.
Compare Act of N. Y. State Legislature.
Ac., V. 106, p. 2455, 2564; V 107, p. 1924, 2193, 2294.
The Federal Power
Commission on Mar. 2 1921 issued a 50-year license to the company for the
diversion of 19,500 cu. ft. of water per second from the Niagara River above
the Falls for power development. V. 112, p. 1030
Including the plant of its subsidiary, the Canadian Niagara Power Co.
the company in Nov. 1920 had an installed capacity of about 486,000 h.
p.!
making it the largest and most important power installation of the world.
In April 1921 work was begun on new 200,000 h.p. plant to be substituted
fpr one of the present 100,000 h.p. plants.
The capital stock of the consolidated company was limited upon the con¬
amount not exceeding the aggregage
share capital, surpluses, undivided profits and unimpaired reserve funds of
the constituent companies. V. 106, p. 2455.
The stockholders in April 1921 approved an increase in the authorized
com. and pref. stock to $20,000,000 each.
Pref. stockholders of record
solidation under the State law to an
Various
June 1 1921 were
Jan
Equitable Tr Co,
O Jan
A
A
J July 1 1950
O Oct 1 1951
N Nov 1 1954
A
J
A
A Aue )
A Feb 1
J Jan
Q—M
Q—F
Q—F
Q—M
1
Buffalo
1952
&
&
A
New York and
1958
1 1932
1 1932
A
&
6 in 1920
and London
office:
Wlnslow.Lanler A Co,NY
Bankers' Trust Co, N Y
Mar Tr Co, Buffalo, N Y
Bankers Trust Co, N I
Guaranty Trust Co, N Y
N
Y. London, Paris. &c
J
F
6 In 1920
Y
N
N Nov 1 1950
&
F
8,500,000 See text
1,674,200 6 In 1920
|2.300.600j
M
M
6.g
5 ?
Pitts
Bankers Tr, N Y &
New York
1949
Checks mailed
Q—M 15 Mar 15 1921 IX
do
Q—J 15
5 g
558.000
$1
1 1939
Julyl5 1921 4% New York
Oct 15 1920 5% New York
Q—J
5 g
4.773,000
1,980,000
100
100
100
?g
5 g
6.500,000
3.887.00U
100
at 105— _
guar Jan 1 1921
preferred stock not guaranteed
6 g
Where Interest ana
Dividends are Payable
A^r 15 1921 1%
g
5g
10,000.000
8.226,000
3,500,000
Ac
1,000 Ac
1,000
1,000
1,000
$, £. Ac
100 Ac
1,000
1909
1910
1916
text
Nov
A Feb 1
&
text
100
F
text
10
Nov. 15 1919, $1;
311920.
24,381,200
5,000,000
100 Ac
$100
1919
i*
Places
and Maturity
MAN
66,516,800
& £
Pref (a A d) stock 6% cum $3,000,000 call
Pratt A Whitney new 6% cum pref stock
6% cum
Dividend
Last
Payable
New York
Q—M June 1 1921
200,000shrs $4in 1920
M
&
N Nov 1 1946
5 g
$6,726,000
100 Ac
1916
New York Transit
Nlles Tool Works
%
When
Rate
Gas Co o f
dated
t»I) 200,000 shs
beKT8.UPi.xc*
Sew York Telephone—IstAGen M auth red 110._F.xxc* Ar*
Debentures skg fund $375,000 yearly call 110—.CLc*Ar*
New York Shipbuilding Corp—Stk (no par
1st M $25.000.000gcall 102X\ skfd2H%
Amount
Value
Bonds
&c.,\see notes on page 6]
Outstanding
Par
Date
MISCELLANEOUS COMPANIES
[For abbreviations,
[VOL. 112.
STOCKS AND BONDS
INDUSTRIAL
306
Guaranty Trust
1941
N Y
Co. N Y
1921 1 Checks mailed
do
May 20 21 IX
do
May 20 *21 1X
do
Dec 31
20 IX
June 20
■
,
given the right to subscribe at par
■<" '/••
for pref. stock to extent
of 20% of holdings.
The First & Consolidation Mtge
of 1919 (V. 108, p. 2532; V. 109, p. 583)
is limited to not exceeding $75,000,000 nor less than the total bonds of the
constituent companies issued or issuable, as shown at table at top of page;
these old bonds outstanding in Dec. 1920. aggregating $28,226,000, ana may
be increased to $40,000,000.
The underlying bonds are to be exchangeable
at option of holders for the bonds of the new issue for like principal sums and
bearing interest at not less than 5% perann. Series AA bonds ($10,000,000),
issued in Dec. 1920 and May 1921.
V. Ill, p. 2235; V. 112, p. 2089. As
to bonds of old Niagara Falls Power Co., see V. 88, p. 1316: v. 90, p. 240,
632, 1209.
Hydraulic Power Co., V. 103, p. 2341; V. 107, p. 295, 699;
V. 92. p. 1639.
$2,000,000 Ref. & Imp. bonds were sold in Nov. 1918,
V. 107, p. 2193, 2381.
DIVIDENDS.—Of old Niagara Falls Power Co.—April 1910 to July
1918, incl., 8% per ann. In Oct. 1918oaid 2% and 3% ext. V. 107,p. 909.
On new Niagara Falls Power Co. pref. stock Jan. 1919 to Apr. 1921 paid
l%% quar.
Initial dividend on common of 1 % paid March 15 1919; June
Sept. and Dec. 1919, 1% each; Mar. 15 1920 to Mar. 15 1921, 1X% quar.
Sept. 15. 1 X%REPORT.—For year ended Dec. 31 1920 showed;
United States and
1919.
1920.
$6,031,951
3,679,927
317,874
$5,098,100
3,356,931
275,733
314,264
$565,994
Years—
operating revenue
operating revenue
Non-operating revenue
Interest on funded debt
Preferred dividends (7%)
Common dividends
Calendar
Total
Net
228,848
$698,594
1,442,389
806,078
(6%)869,076
Canadian taxes, &c
Balance, surplus
1,319,760
806,078
(4)579,384
Report for 3 mos. ended March 31 1921: Gross, $1,482,517; net, $851,294;
other income, $77,374; interest, Ac., $484,272; bal., sur., $444,396. .
OFFICERS.—Chairman, J. F. Schoellkopf; Pres., Paul A. Schoellkopf;
V.-Ps., C. P. Hugo Schoellkopf, A. H. Schoellkopf, Morris Cohn Jr., and
John L. Harper; Sec., Fred'k L. Lovelace; Treas., W. Paxton Little.—
(V. 112, p. 855, 939, 1030, 1873, 2089.)
'
NIAGARA
LOCKPORT
&
ONTARIO
POWER
CO.—ORGANI¬
ZATION.—Incorporated in N. Y., May 21 1894 under special charters.
Owns transmission lines over which it supplies numerous operating cos. and
manufacturing plants with power received from Ontario Power Co. of
Niagara Falls, N. Y., at western end of its system; also at eastern end owns
and operates hydro-electric plant on Salmon River at Altmar, N. Y., and
modern steam plant at Lyons. N. Y., and under long-term lease hydro¬
electric plant on Oswego River at Mlnetto, N. Y.
Has long-term con¬
tracts for supplying 13 public service corporations, which operate 1,100
miles of road in Oswego, Syracuse, and Rochester, and Lnterurban roads
extending to Doints between Rochester, Buffalo, and Erie, Ac.
V. 106,
p. 2753, 612; V. 95, p. 1691; V. 89, p. 1415: V. 88. p. 1317; V. 109, p.
892.
Also supplies Niagara & Erie Pow. Co.
V. 94, p. 1692; V. 92, p. 530.
In Jan. 1918 absorbed its subsidiary, the Salmon River Power Co. (own¬
771.
V. 98,
ing 35,000 h. p. hydro-electric plant 42 miles northeast of Syracuse.
1320; V. 99. p. 53; V. 102, p. 1442, 1991; V. 103, p. 1036; V. 105. p.
In 1915 leased from Northern New York Power Corp. a 12,000 h. p.
2278.
N. Y., on Oswego River, with $900,000
($2,500,000auth.), guar. p. & L, by Columbia Mills.
at Minetto,
plant
1st M. serial 6s of 1915
V. 100. p.
1082,159^
Aggregating 147,000 h.p.
Co.)
60,000 h. p.
35,000 h. p.
Corp.) .12,000 h. p.
40,000 h. p.
1,019 miles
Principal Customers—Population of District Served, About 1,500,000
(1) Public Utilities Corporations in Oswego, Syracuse, Auburn, Geneva,
Rochester, Batavia, Lockport, Depew, Lancaster, Hamburg, Jamestown,
Recapitulation.—Sources of Power Supply,
Niagara River (power purchased from Ontario Power
Power plant on Salmon River (company's own plant)
Power plant at Mlnetto (leased from North. N.Y. Pow.
Steam plant at Lyons (company's own plant)
Connected high voltage transmission lines...
Lackawanna,
Dunkirk and
numerous
smaller municipalities.
(2) Electric Railroads having a total length approximating 1,100
(3) Leading Manufacturers.—Lackawanna Steel Co., Niagara
Co., Atlas Crucible Steel Co., American Locomotive
Gould
Co. and other large industrial plants.
Co.,
STOCK.—Outstanding stocx, common
miles.
Smelting
Coupler
($5,000,000 auth.), $1,230,000,
Pref. 6% cum. ($3,000,000 auth.), $2,750,300; 6% non-cum. Pref.
($2,000,000 auth.), $2,000,000; par $100.
V. 95. p. 301. V. 98. p. 1396;
V. 99, p. 1915; V. 104, p. 457.
Dividend on first pref. stock, IX % quar.,
paid Sept. 1 1912 to March 1 1915, inclusive.
DEBT.—The 1st gold 5s of 1904 ($5,000,000) all Issued, are callable as
a whole at 110; cum. sink, fund purchases these at not over 120 and Int.;
$1,113,000 so purchased to Jan 1 1920. V. 85. p. 225; V.88, p. 137;
V. 90,
p. 506; V. 96. p. 950.
Refunding Mortgage Bonds of 1918 are secured by a general mortgage on
the combined properties subject, to $8,660,000 underlying bonds outstandng.
Auth., $15,000,000.
Sufficient bonds are reserved to retire the under¬
First
sold, the
lying bonds, $1,980,000 were issued immediately and have been
balance being available for 85% of the cost of additions, under restrictions.
A sinking fund is to retire the total issue by maturity.
V. 106, p.
Y. 107, p. 2480; V. 108, p. 84, 977; V. 109, p. 771.
2753.
$1,300,000 2-year secured 6% convertible gold notes of 1918 were
ailed in Feb. 1919 and replaced by Refunding bonds.
Salmon River Power Co. 1st guar. 5s of 1912; $227,000 bonds are In the
sinking fund, V. 108, p. 84.
V. 95, p. 1043; V. 99, p. 53, 411; V. 103,
p. 1036; V. 104, p. 769; V. 105, p. 2461.
,
„
Niagara Lockp. & Ont. Power Co. and Buffalo A Lake Erie Traction Co.
guarantee 50% each of Niagara A Erie Pow. Co. 1st 5s and
fund payments of IX %. beginning Jan. 11916. V• 94, p. 1692; V. 92, p.530.
The
"
annual sinking
REPORT.—Year 1919:
Sales of
Net
Interest
Tcues,
Balance,
Charges. Rents, &c.
Surplus.
$569,324 $377,323 $119,222
1918
3,146,759
505,438
581,616
287,112
1917... 2,311,718
31,586
477.453
364,659
212,984
1916
1,883.431
208,465
485.412
290.857
406,825,
prOFFICERS.—Pres., Fred. D. Corey, Buffalo. N. Y.; V.-P., Langdon
Albright: Sec. and Treas., R. C. Board, Buffalo, N. Y.
Executive offices.
Marine Trust Bldg., Buffalo, N. Y.—(V. 112, p. 264.)
Elec. Power.
1919 ___$2,361,246
...
—
Earnings.
$992,717
1,326,241
1,023,510
974.629
Other
Income.
$73,152
47,925
NILES-BEMENT-POND CO.—ORGANIZATION.—Incorporated In
Jersey Aug 11 1899; makers of heavy machines.
V. 69, p. 388
New
V. 105,
p.2370.
May, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES.
[For abbreviations,
&c.,
Par
Amount
Rate
When
Last
Dividend
Value
Outstanding
%
Payable
and
Maturity
$100 $29,793,300 5 In 1920
100
do
....
7
5 & 6 g
500
Ac
27.567.500
1916
500
Ac
1918
100
Ac
1,800.000
7.323.000
536,000
109,500
1,336,000
501,500
1.000
—
.
Preferred stock
100
Northwestern Gas-light & Coke Co—See Pub Serv Corp Of Norj them I Hi
Northwestern Bell Tel Co—1st M Ser A red 107X-N.c*Ar* 1921
100 &c
Northwestern 'telegraph—first mtge gold guar d <sc i
1904
Eq
500
Nova Scotia Steel & Coal—Ordinary shares $15,000.000—
100
Preferred (a A d) stock cum not callable
100
First mtge (closed) gold a fd X % call 105
1909
100 Ac
Mtge debenture stock callable 105 after July 1 1919
£1 Ac
1909
Eastern Oar Co 1st M (closed) guar s fd 1% call 105-C^Ar
1912
100 Ac
do
do
Preferred stock 6% cum
100
CONTROLLED
COMPANIES—GUARANTIES.—Owns
entire
com¬
stock
mon
Also
owns
entire
common
stock of Niles Tool Works,
dividends of 6%
yearly
on $1,000,000 having been paid regularly since 1890.
In 1905 and
1906 the entire stock of John Bertram & Sons, Ltd., and Pratt A
Whitney
Go. of Canada, Ltd., was acquired.
V. 81, p. 977; V. 83, p. 1350.
DIVS.—J'02. *03. '04.
(%)_V 8
8
7
'05-T2. 13. *14. '15. *16. '17. *18. T9. '20. '21.
6 yrly
\X 0
IX
8
12
12 8X
8 text
21, 1X%\ June 20, 1 %.
Also 40% In common stock ($2,000,000) paid on com. stock Jan. 2
1907.
Oom.
In 1921: March
REPORT.—For calendar year 1920, In V. 112, p. 1022, showed:
Calendar Years—
1920.
1919.
1918.
1917.
Manufacturing profits.._$3,007,812
Miscellaneous income
Net profits...
Preferred dividends
(6%)
Common dividends
$4,897,661
716,855
1,031,522
238,664
$8,220,777
1,079,944
3,181,933
238,584
652,285
2,280.624
233,351
$5,113,611
771,174
3,133,633
245,914
(8%)680,000(8^)727,500(12)1020,000(12)1019,876
Balance, surplus
112,858
1,319,773
1,923,259
1,867,843
Pres., James K. Cullen; V.-Pres., C. L. Cornell; Treas., John B. Cornell;
Sec., Fay Ingalls, 111 B'way, N. Y.—(V. 112, p. 659, 1022, 1983.)
NIPISSING MINES CO., LTD.—(V. 112, p. 379, 659,1022,1623,1747.)
NORTH AMERICAN CO.—Organized in 1890 in New Jersey and con¬
or is interested in, The Wisconsin Edison Co., which controls Milwau¬
kee (Wis.) Electric Ry. & Lt. Co. (see "El. Ry." Sec.) and Wisconsin Gas
4c Elec. Co. (V. 95, p. 1124, 1279, 1335, 1478; V. 98, p. 1075. 1172), North
Milwaukee Light A Power Co. and Wells Power Co.; also the electric light,
power A trolley companies of St. Louis, Mo., as follows:
Union Electric
Light A Power Co., St. Louis Co. Gas Co. (V. 104, p. 1903; V. 105, p. 186,
1003, 409), and United Rys. Co. of St. Louis (V. 105, p. 181); also West
Kentucky Coal Co. and the Detroit Edison Co.
Controlled companies
Dec. 31 1920, V. 112, p. 942.
The West Kentucky Coal Co. first mtge. 25-year 5% bonds, $1,700,000
outstanding March 31 1921, have interest guaranteed.
V. 81, p. 35, 563,
1178; V. 88, p. 999;
V^ 90, p. 301; V. 104, p. 1700.
trols.
DIVIDENDS. (1904 to Sept. 1907.
Per
REPORT, Ac.—For
Cnl
1908.
0
\ 5 (IX Q.-March)
cent
Vonr
year ending
1Q9H
1909.
1910 to April 1 1921.
3^5 yrly. (IX Q.-J.)
30,000,000
1.500,000
15.000.000
1,000.000
5.580.232
4.500.000
927,900
750 000
Dec. 31 1920, in V. 112,
I
1Q1Q
942. showed:
p.
1Q90
OFFICERS.—Wm.
Acting Pres.; James
Broad St.—(V. 112,
1Q1Q
Nelson
F.
p.
Cromwell, Chairman; Harrison Williams,
Fogarty, Sec. & Asst. Treas.
N. Y. office, 30
929, 942, 1030.)
NORTH BUTTE MINING CO.—(V
NORTHERN
CALIFORNIA
112,
POWER
p.
CO.,
264, 659, 751, 1289.)
CONSOLIDATED.—A
California corporation having in successful operation 6 hydro-electricplants,
combined installation 48,000 h. p.; water-works at Redding and Willows;
also gas plants in Redding, Red Bluff and Willows.
In 1912 purchased
Sacramento Valley Power Co. V. 93, p. 1538: V. 94, p. 419, 1511.
As of
Dec. 31 1920 the Pacific Gas A Elec. Co. had purchased 99,201 shares of
stock.
Properties were deeded to the latter company on Oct. 30 1919.
CAPITAL
STOCK.—Common
outstanding,
$10,000,000;
par,
$100.
Bonds.—Funded debt assumed by Pacific Gas & Elec. Co.
Outstanding
in hands ofpublic Dec. 31 1920: Ref. & consol. 5s, $4,199,000; 1st M. 5s,
$798,000; Keswick Elec. Pow. 1st 5s, $22,000; Battle Creek Pow. 1st 5s,
$84,000; Redding Water 1st 5s, $10,000; Sacramento Val. Pow. 1st 6s,
$372,700; Sacramento Val. Pow. 1st ref. 6s, $478,000.
—(V. 108. p. 884, 2334; V. 109, p. 170, 277.)
NORTHERN
PIPE
LINE CO.—ORGANIZATION. Ac—Incorp. In
Owns pipe lines in State of Pennsylvania.
For¬
merly controlled by Standard OH Co. of N. J., but segregated In 1911.
See
Standard Oil Co., V. 85. p. 216, 790; V. 93. p. 1390.
Stock, $4,000,000
Pennsylvania in 1889.
par,
Div., 5% paid semi-annually July 1912 to July 1921.
$100.
In Jan
1918 paid 5% and 4% extra.
(10%)400,000
Balance, surplus
(10)400,000
1918.
$16,778
def$I19
1917.
$503,235
$629,963
(10)400,000 (14)560,000
$103,235
$69,963
OFFICERS.—D. S. Bushnell, Pres.; J. A. Bartlett, V.-P. A Gen. Mgr.;
office, Oil City, Pa.
was
DIVIDENDS.—On stock as reduced 5% yearly 1906 to 1908; 1909. 4%:
1910,214%; '11,4%; 1912. 3%; 1913 to 1916. Inch. yearly Jan. 11. 2%
1917.Jan..314%; 1918, Jan. 3X%; June. 3%; Jan. 1919.4%; July 1919.3%
Jan. 1920, 4%; July 1920. 3%; Jan. 1921, 4%.
OFFICERS.—Pres., E. T. Nichols; Sec. & Treas., Nicholas Terhune.
Office, 26 Liberty St., N. Y—(V. 112, p. 258.)
POWER
CO.
(OF
DEL.).—Incorp. in Dela¬
A holding com¬
See full statement to
Dec. 23 1909 (V. 90, p. 1299; V. 91, p. 467, 592).
pany organized by H. M. Byllesby & Co., Chicago.
N. Y. Stock Exchange in Dec. 1916. V. 104, p. 265.
the
Northern
entire
capital stock,
except
diiectors*
qualifying shares, of
States Power Co. Of Minn., which see below.
Prer. divs. paid
April 15 1910 to April 20 1921, 7%, or IX % Q--J- (V. 102, p. 1543).
An
initial IX % was paid on common stock Juiy 20 1916; Oct. 20, 1X%:
Jan. 1917 to Jan. 1918, l%%\ April 1918, no common dividend was de¬
clared, due to increased operating costs, Ac.
NORTHERN
8TATES POWER CO.
See V. 106,
p.
1349.
(OF MINNESOTA).
This operating company (until March 1916 known as Consumers' Powei
incorporated In Minnesota In June 1909.
V. 102. p. 980.
Itown*
all the properties formerly comprising Consumers Power Co. system,
directly or through ownership of all securities except $7,323,000 1st (closed)
mortgage bonds of The Minneapolis General Electric Co., and except
directors' qualifying shares.
Higher rates in 1918, V. 105, p. 2099.
Co.)
was
A
&
O
Apr
'21
IX
do
1 1941
New
§ g
7 g
A
&
Apr 1 1926
F & A 15 Aug 15 1923
5 g
J
&
D
Dec
1
York
and
New
O
York
and
Chlcage
Chicago
New York and
Chicago
Old Colony TrC'o,Boston
1934
7
4X g
5
8
F—A
J
A
Feb
J
Jan
1 1921
1 1934
Q—J 15 Apr 15 '21
Q—J 15 Apr 15 '21
J
A
J July 1
J
6
A
J Callable
J
A
New York
West
On
Teleg Co. N Y
IX
2%
J July 1 1952
Dec 31 1916
1959
only
Tor, Mtl. Boa, London
N Y, London,
Montreal
N Y, London,
Mont.,At
net earnings are twice the annual bond interest
charge, including bonds ap¬
plied for, or (b) to retire an equal amount of Minn. Gen. Elec. Co.
bonds.
See V. 104, p. 264; V. 105, p. 76; V. 106, p. 1131,
2564; V. 102, p. 1441
V. 108, p. 585; V. 109, p. lSfl; V. 112, p. 1523.
The $8,000,000 gold notes (V. 102, p. 1441) are part of an
authorized
$12,000,000 protected by a trust agreement; $250,000 Is applied
annually
out of any
Burplus earnings remaining after payment of pref. dividends for
additions and betterments or to retire notes.
In 1917 $195,000 of the
notes
were exchanged for stock, leaving $7,805,000 now
outstanding.
In Aug. 1918 sold $2,000,000 of an authorized
$3,500,000 7% sk. fd.
convertible notes, callable all or part on any interest date, on
or
before
Aug. 15 1920 at 102%; in 1921 at 101%; in 1922 at 100H%; Feb. 15
1923,
at 100%.
The notes are convertible at any time after January 1 1919
(prior to date of redemption if called) into 7% cumulative preferred Btock
or common stock of Northern States Power Co.
(Dela.), which owns com¬
mon and pref. stock of Minn. Co., at
par for notes and 95 for the preferred
stock or 100 for the common stock, with adjustment for
accrued interest
and cash dividend.
8inking fund to retire $300,000 Aug. 15 1921 and
$400,000 on Aug. 15 1922, and proportionately larger amounts if remainder
of authorized issue is sold, or a dividend is paid on common
shares.
Opera¬
tion of the sinking fund in 1920 retired $200,000 par value of
these notes,
leaving $1,800,000 outstanding.
The final $1,500,000 notes can be issued
only on account of additions, Ac., when the net earnings are at least
IX
times interest charges, including notes applied for.
See V. 107, p. 909.
REPORT.—For calendar year 1920, in V. 112, p. 939, shows:
Calendar
Cross
Net after
Bond. &c. Pref. Die. Com.Div.
Balance
Year—
Earns.
Taxes.
Int.(Net.)
(7%).
Surplus.
1920—$11,798.779 $4,466,938 $2,148,470 $1,341,374
$977,094
1919— 9,875,934
4,117,312
1,999,055
1,176,998
941,258
1918— 8,392,664
3,542,974
1,922,714
1,036.915
583,345
1917—- 7,154,509
3,389,781
1,709,838
916,011
$429,902
334,030
OFFICERS.—Pres., H. M. Byllesby; Sec., R. J. Graf, Chicago; Treas.,
J. J. Molyneaux, Minneapolis.
N. Y. office, Trinity BIdg.; Chicago office,
208 So. La Salle St.—(V. 112, p. 939, 1523.)
NORTHWESTERN BELL TELEPHONE CO.—The company is suc¬
of several important companies of the Bell Telephone
system, operat¬
cessor
ing
a
comprehensive net-work of lines in Iowa,
Dakota and North Dakota.
150,000 outstanding stock.
Nebraska, Minnesota, South
Amer. Tel. & Tel. Co.
owns
the entire
$42,-
V. 112, p. 264.
BONDS.—The 1st mtge. 20-year 7s, Series "A"
are a
first lien
on
all the
telephone plant of the company with the exception of that in North Dakota,
as to property in that State, any future
mortgage debt created must be
and
subordinated
to this issue.
The mortgage provides for a
sinking fund of
$300,000 per annum to be used in the purchase of these bonds at or below
and int.
par
Additional bonds of other series may be issued for additional
property (In¬
cluding stocks and securities) acquired in connection with the Telephone
company's business, but not in excess of 75% of the actual cash cost thereof,
provided: (1) The bonds outstanding under this mortgage shall not exceed
the outstanding fully paid capital stock and
surplus, and the bonds issued
for stocks and securities shall not exceed in amount
10% of the outstanding
and (2) the annual net earnings after depreciation and taxes shall
IX times the annual int. charge on the outstanding and
proposed bonds.
Additional bonds issued may be in different series, with such interest
rates and maturity dates (not earlier than Feb. 1 1941 nor later than Feb.
1
2020), &c., as directors may determine.—V. 112, p. 264, 379.
not less than
NORTHWESTERN TELEGRAPH.—Owns 10,000 miles of wire and is
leared for 99 years from July 1 1881 to Western Union,
which guaantees
dividends at 6% on $2,500,000 stock (par $50) and principal and interest on
106, p. 710.)
reduced
pending completion of dissolution. V. 78, p. 1168, 1223,1275, 1392; V. 76,
p. 811, 919, 1249.
Report for cal. year 1920 in V. 112, p. 258.
Owns
'21.
20 '18
BONDS, &c.—First & Ref. M. of 1916 made by Minnesota Co. (V.
102.
bonds.—(V
NORTHERN SECURITIES CO.—In 1904 the capital stock
STATES
text Jan 10
~Q-j"~15~ Apr 20
Yarfc
1630), is limited to $100,000,000 bonds, of which in Apr. 1921
$27,567,500 (of which $3,000,000 are 6s) outstanding; the remainder
may be issued
(a) for not over 75% of the cost of permanent extensions and additions, when
NOVA SCOTIA STEEL & COAL CO.—ORGANIZATION.—Incorp.
Owns steel plant, blast furnaces, collieries, and iron mines
from $395,400,000 to $3,954,000. the par value of shares to remain at $100
NORTHERN
5% New York
4% Checks mailed
IX Checks mailed
p.
be
Geo. Chesebro, Sec.; W. F. Livingston, Treas.
Main
N. Y. office, 18 Broadway.—(V. 112, p. 67, 659.)
ware on
July 1 1921
bonds;
REPORT.—For 1920, in V. 112, p. 659:
Calendar Years—
1920.
1919.
Net income
$399,881
$416,778
Dividends
J
Payable
New
Supplies electric light and power to 290 communities in Minn., No. Dak.
So. Dak., Wise., 111. and Iowa; 14 communities with
gas; 6 with steam heat¬
ing; 5 with street railways and 1 with telephone service.
The communities
served include Minneapolis, St. Paul, Stillwater,
Faribault, Mankato,
Hutchinson, Pipestone and Montevideo, Minn.; Grand Forks,
Fargo and
Minot, N. D.; Sioux Falls, S. D.; Ottumwa, Iowa, and the zinc
mining dis¬
trict in and around Galena, 111., and Platteville, Wis.
Population served
(est.), 1,002,900.
In Dec. 1920 the Installed hydro-electric plants had a
generating capacity of 40,159 h. p. and the steam generating plants of
122,440 h. p.
Also owns or controls undeveloped water powers.
In summer of 1917 acquired a controlling interest in three
groups of
electric light and power properties in Minn., which have
$534,000 bonds
and $111,500 pref. stock outstanding in the hands of the
public.
In 1920 acquired control of Ottumwa Ry. & Light Co.
Gross
earns...$3,026,934 $2,796,241 Divs. (5%)—$1,489,665 $1,489,665
Net income
2,688,957
2,545,967 |Bal., surplus. 1,199,292
1,056,302
are
nols
.....—
($2,000,000) of Pratt & Whitney Co., guar. 6% on latter's pref.
stock, provided that the guarantor earns same on its own stock.
V. 71,
p. 139; V. 70, p. 1253; V. 72, p. 143; V. 78, p. 1113; V. 80, p. 1734; V. 89.
p, 998; V. 90, p. 563.
Where Interest and
Dividends
IX 30 Broad St.
Jan
7,805.000
1904
&
Places
Apr 1 1921
6.170.000
21,404,500
1916
xc*
J
3.954,000 7 in 1920 See
100
100
lst&Ref MS 100.000.000 g call 105tiH'36 then
102X G.c*&r
Gold notes $12,000,000 red to
Apr 1921 at 102; to Apr 1925
at 101. thereafter at
par
CC.c*Ar*
Sink fund conv notes $3,500,000 call
(text)
G.xxxk.c*
do
10
4,000,000
100
Pref (a A d) stk
7% cum $50,000,000 call 110 A divs
Northern States Power Co (of Minn.)—
110 iV 95, p 180)
Q—J
Co
Northern Securities—Stock S3.954.000
Northern States Power (Del)—Common stock S50.000.000
red
207
Date
North American Co.—Stock
J30.000.000
Northern Cal Power Co Cons—See Pacific Gas & Electric
Northern Pipe Line Co—Stock
Minneapolis Gen Elec 1st M
Divisional bonds
Divisional preferred stock
Ottumwa Ry & Light bonds
BONDS
Bonds
noUs on page 6.]
see
STOCKS AND
in N. S. in 1898.
In
Cape Breton County, N. 8.
Also owns $800,000 of the $1,550,000 stock
Eastern Car Co., Ltd.
See full statement to N. Y. Stock Exchange
listing of ordinary shares in V. 103, p. 1896; V. 106, p. 1801,1790.
Proposed adjustment of coal arrears, V. 108, p. 2246.
In Dec. 1919
purchased for $2,000 000 a controlling interest In the Acadia Coal Co.,
formerly operated by a Belgian syndicate, with head offices In Brussels
and mines in Cape Breton.
V. 109, p. 2362.
The stockholders in April
1921 voted to merge into the British Empire Steel Corp., which see.
STOCK.—To provide ample working capital, all shareholders of record
as of June 30
1917 were allowed to subscribe at par pro rata for $5,000,000
of
In 1916 on
new com.
stock.
The Hayden-Stone interests as underwriters took up the
remainder. Increasing their holdings to a decided majority of the stock.
V. 105, p. 721.
The stock bonus of 20%, or $2,500,000. distributed to
common shareholders Nov. 20 1917, raised the issued common stock to the
full authorized $15,000,000.
V. 104, p. 2557; V. 105, p. 76.
LATE CASH DIV.—
T1-T3. *14. '15. *16. '17. '18.
'19.
'20. '21.
Preferred stock
% 8 y'ly
4
12
8
8
8
8
8
See
Oommon
% 6 y'ly
3
0
0
2K 6J*
5
5 text.
Dividends on the common stock were resumed in 1917 with a declaration
of
2X%. payable July 14; on Jan. 15 1918 paid 2X%\ April 1918 to Apr.
1921 paid IX % quar.
V. 108. p. 1169.
In 1909 a 20% dividend in stock was paid.
V. 102, p. 1064.
In Nov.
1917 stock dividend of 20% in common stock.
See above and V.105.P.2099.
BONDS, Ac.—First mtge. auth.. $6,000,000; redeemed, $361,562.
88. p. 1563.
V.
Date
Par
Amount
Rate
When
Last Dividend
Bonds
Value
Outstanding
%
Payable
and Maturity
MISCELLANEOUS COMPANIES
6]
[For abbreviations, &c., see notes on page
Elevator—Stock common $16,000.000
Stork (a A d) preferred 6% non-euro $6.500,000
Otis Steel Co—Stock common 600,000 shares
Pref (a & d) stock 7% cum call 110 $15,000,000
Dec 31 1920, $1 Checks
Oct 1 '20,
&
D
160,000 shs Bee text J
104,653 shs See text
text Q—T"l5
$25 $ J 9,813. (XX) See
25
15.000.000 See text Q—M 31
See text
See
text
5
Q—J
amount of paid-up
100
6,600.000
None
411,668 shs
100
8.830,600
Eastern Car
capital.
1150, showed;
1920.
1919.
maint. exp., &C- $2,376,086
$2,193,304
1698
Bank
REPORT.—For year 1920, in V. 112, p.
^
Ordinary dividends
561,582
605,096
80,000
*
(5%)
Chairman, Thomas
$3,535,525
1,206.969
612,064
750,000
80,000
750,000
$379,407
$199,877
$886,492
McDougall: V.-Pres., W. D.
Surplus.
Ross; Sec., Archibald
476, 1030, 1150.)
554,593
608,834
80.000
750,000
Discount, reserve, &c__
Interest charges..
Preferred dividends (8%)--
Cantiey; Pres., D. H.
Office, New Glasgow, N.
McColl.
S.—(V. 112, p.
NUNNALLY CO (THF.).—Organ, in Del. on Nov. 20.1919,
Engaged
and sale, both at wholesale and at retail, of candies and
in the manufacture
confectioneries of all
and
kinds, ice cream and flavoring syrups,
operating shops for the
and in leasing
Fac¬
pounds of
sale of candy, soda water and ice cream.
tory, located at Atlanta, Ga., has a capacity of about 20,000
candy and 500 gallons of ice cream per day.
Operates 9 stores in Atlanta
and Savannah, Ga.; Jacksonville, Fla.; Birmingham, Ala.; Norfolk, Va.;
and Washington,
D. C.
CAP. STOCK.—See
paid June 1 1920; on Dec. 31
share.
BLOWER CO. (THE).—Organized in Ohio, Nov. 19
1919, and acquired the property, Sec. of The Ohio Blower Co., an Ohio corp.
Principal business is the manufacture of automobile bodies, ventilating
systems and steam specialties, such as exhaust heads, separators, &c.
Main plant located at Cleveland. Ohio.
10
no par
STOCK.—Auth.,
value.
110,000
shares;
outstanding,
DIVS.—Initial div. of 62 A cents per share on new
1920; same amount paid in July and Oct'. 1920.
104,653
stock was paid Apr.
Jan. 1921 div. was
omitted.
D. K. Swartwout; V. P. & Treas., H. H, Lind;
Asst. Treas., J. B. Davis, Office, Cleveland, Ohio.—
OFFICERS.—Pres.,
Sec., W. E. Clement;
V. 112, p. 168.
OHIO CITIES GAS
CO.—See Pure Oil Co.
FUEL SUPPLY CO.—ORGANIZATION.—Incorp. in Ohio
15 1902 and acquired various properties engaged In the produc¬
tion, purchase and distribution of natural gas and petroleum oil for light
heat, power and fuel; also lease covering over 1,023,691 acres of oil and gas
territory In Ohio.
Alto owns the $5,550,050 stock (except $450 direc¬
tors' shares) of N. W
Ohio Natural Gas Co., and $4,410,000 of the $ltt
OHIO
May
000,000 stock of United Fuel Gas Co.
See that company below. The
Ohio P. U. Commission In March 1920 approved the sale of the equipment
and distributingjsystem of the Logan Natural Gas &
Fuel Co. at Logan to
the company.
$19,813,000
stock; no bds.
DIVIDENDS.—
1904-09.
'10.
'11-16.
'17.
'18
'19-21.
Per cent
10
9A
8
9 A 10 & 2% US bds. text
In Oct. 1909 a special disbursement was made of one share (par $1) o!
Ohio Fuel Oil stock to each share of Ohio Fuel Supply stock held.
In Jul}
1910 an extra div. of 50% was paid In 6% debenture bonds (all called for
redemption on or before Jan. 1 1917.)
In 1919, Jan. and July, 2A% and
2% extra in Liberty bonds; April and Oct., 2A%'< Jan. 1920, 2A% and 2%
extra in Liberty bonds; April 1920, 2 A %', July and Oct. 1920 and Jan. 1921,
2H% and 2% extra in Victorv Loan notes.
April 1921, 2 A 7o and A %
STOCK.—Auth., $20,000,000 (par $25): outstanding,
on N. Y. Stock Exch. In 1917 (V.104,p.668). No pref.
Listed
extra in
Victory Loan notes.
REPORT.—For year ending Dec.
Gross.
1920
1919
1918
$16,188,981
12,588,455
12,586,864
OFFICERS.—Pres.,
Net.
$8,247,316
6,298,738
6,004,640
Geo.
W.
31 1920, In V. 112, p. 1405:
Dividend. Taxes dep,&c.Bal.. Surv.
$2,328,010 $2,606,720 $2,480,881
2,774,000
2,431,106
1,093,632
2,377,560
*1,407.634
2,219.446
Crawford; V.-Pres., F. W. Crawford,
& Treas., J. B. Wikoff.
Offices,
J. M. Garard and L. B. Denning; Sec.
Pittsburgh, Pa.—(V. 112, p. 1289, 1405.)
OHIO OIL CO.—ORGANIZATION, &c.—Incorporated In Ohio In
1887.
Owns extensive tracts of oil lands in Ohio, Indiana and Illinois.
Produces crude oil.
See Standard Oil Co. of New Jersey.
Y. 86, p.
216, 790; V. 86, p. 984. 1227; V. 93. p. 1390.
The pipe lines In
Pennsylvania, Ohio, Indiana and Illinois, about 1,100 miles In length, were
In Dec. 1914 transferred to the
Illinois Pipe Line Co., the letter's $20,•
000,000 stock being distributed pro rata, In the proportion of 133 1-3%
among the Ohio Oil Co. stockholders.
V. 99, p. 1678, 1915.
Shareholders
voted Jan. 311917 to increase the par value of the shares of stock as of Mar.
20 from $25 to $100, and thus the total stock from $15,000,000 to $60,000,000, in order to represent accumulated profits, but plan was held illegal by
State Attorney-General as regards increase of par value.
V. 104, p. 1149,
868; V. 103. p. 2347. 2435; V. 104, p. 457
1915.
DIVIDENDS.—
%
Regular
1916-18.
1919.
1920.
1921.
20
20
20
20
See
text
March, 5% and 11% extra.
Balance sheet Dec. 31 1920 (V. 112, p. 1523) showed total surplus, $75,475,505, against $63,415,864 Dec. 31 1919.
Has entered the North Central Texas field through its subsidiary, the
Mid-Kansas Oil & Gas Co.
V. 107. p. 1007.
%
Extra
30
76
68
60
In 1921,
DIRECTORS.— Pres., James C. Donnell; V.-P., James K. Kerr, Mar¬
shall, 111.; O. D.
Donnell, V.-P.; F. E. Hurley, V.-P.; and R. J. Berry, all
of Findlay, O.
Sec. is C. L. Fleming.—(V. 112, p. 855, 1523, 1873.)
OHIO STATE
TELEPHONE CO.—(V. 112, p. 939, 1983.)
OKLAHOMA GAS & ELECTRIC CO.—(V. 112, p. 568, 659.)
OKLAHOMA NATURAL GAS CO.—(V. 112, p. 1030, 1151.)
text
6
Apr
Apr
1 1921 50c Checks mailed
1 1921 2% Checks mailed
Q—J
Q—J
15 See text
Q—J
15 Apr 15'21
~Q—J"
1A
Office, 26th St & 11th At
do
do
Apr" 1 ~192T ~Y%
OKLAHOMA PRODUCING & REFINING CORP. OF AMERICA.—
ORGANIZATION.—Incorp. under laws of Maryland March 16 1918, to
in the producing, refining and marketing of oil and its products.
Acquired all of the physical properties and net assets of the Oklahoma
Producing & Refining Co. (of Delaware) and subsidiaries, excepting stock
of Union des Petroles d'Oklahoma and $50,000 cash.
(For description of
properties, see listings application in V. 11°, p. 667).
The Delaware com¬
pany, organized in Feb. 1916, and which was merely a holding company,
disposed of its holdings of stock of the Union dee Petroles d'Oklahoma, la
Jan. 1920, for $5,682,692 cash, and on Jan. 26 1920 stockholders voted to
dissolve the company and distribute its assets.
Stockholders received for
each share of stock
held,
$2 30 in cash and 134 shares of Oklahoma
Producing & Refining Corp. of America.
CAPITAL STOCK.—Authorized,
$3,000,000 8% cum. pref. and $22,-
000,000 common; par value (both classes), $5.
Issued, $3,000,000 pref.
(all owned by Union des Petroles d'Oklahoma), and $21,541,000 common
(of which $5,800,000 is owned by Union des Petroles d'Oklahoma).
In
Feb. 1920, $15,000,000 common stock was listed on N. Y. Stock Exchange.
Preferred stock is preferred as to assets and divs. and shares equally with
common stock as to dividends after the latter has received 8%.
In liquida¬
tion, &c., shares equally with common In any surplus remaining after each
value.
Both classes have equal voting power.
V. 110, p.
Right to subscribe for Ohio Cities Gas Co. pref. stock, V. 110, p. 1419.
has received par
667.
DIVIDENDS.—A dividend of 2% quar. on com.
EARNINGS.—For year
OHIO BODY &
CAPITAL
2%
Apr 11921
engage
;
OFFICERS.—Chairman, James H. Nunnaly; Pres., Winship Nunnally;
V. P., E. R. Rogers; Sec. & Treas., H. G. Fairman.
Office, Atlanta, Ga.
—(V. Ill, p. 1858; V. 112, p. 2198.)
shares;
mailed
62Ac
text
stock was paid April 1
1920; to Aprl 1 1921, 2% quar.
table at head of page.
DIVS.—Initial div. ©f 50 cents a share was
1920 paid $1 a
8
See text See
100
an 6
Payable
Mar31 '21 16%
O—J
$2
100
Co. 1st 6s, $1,000,000, redeemed to Dec. 31 1920, $72,100, V 94. p
Nova Scotia Land Co. 1st 6s. due 1924. $50,000; redeemed, $31,200.
loans Dec. 31 1920, $2,162,755Calendar Years—
Combined prof., aft.
549,170
6,880.000
$1
Bee
are
8
See text
5
-
Where Interest
Dividends
None
8% cum pref (a & d) stock, partic (text) $3,000,000 auth.
Orpheum Circuit, Inc—Common stock $1,000,000
Pref (a & d) stock 8% cumulative convertible $10,000,000Qtis
Places
None
Nunnally Co—Stock 160,000 shares auth
Ohio Body & Blower Co (The)—Stock 110,000 shares authOhio Fuel Supply Co—Stock $20,(XX).000
Ohio Oil Co—Stock
Okla Prod & Ref Corp of Amer—Com, auth $22,000,000
Debenture stock Is limited to
[VOL. 112.
STOCKS AND BONDS
INDUSTRIAL
208
ended Dec. 31 1920: Gross, $13,691,201; net.
$272,928; depreciation, &c., $3,853,495;
$1,723,280; balance, surplus, $334,349.
OFFICERS.—Pres., R. E. Mcllvain; Asst. to Pres., J. K. Crawford;
V.-Pres., T. O. Lilystrand; Treas., L. P. Harrington; Sec., J. E. Harding.—
$6,424,052; interest and taxes,
pref. divs., $240,000; com. divs.,
(V. 112, p. 568, 1030, 1289.)
OLD DOMINION CO. (OF
MAINE).—(V. 112, p. 939,1405,1523,1983.
ORPHEUM CIRCUIT, INC.—Organized Dec. 22 1919 in Del. and ac¬
quired the capital stock of a number of theatrical companies in the U. 8.
and Canada.
Compare listings application to N. Y. Stock Exch. in V. Ill,
p. 1092.
;
CAP. STOCK.—Pref stock is convertible into common stock at any time
on the basis of two shares of com. for one share of pref. Sinking fund, 5% of
net earnings after pref. divs. for preceding year to be applied to purchase of
stock at not over 110 and div.—V. Ill, p. 1092.
DIVS.—Initial div. of 50 cents per share on the common stock was paid
,
,
Apr. 1 1920; same amount paid quar. to April
Q-J.
BONDS.—Principal bonded indebtedness of
1 1921.
Pref. divs., 2%
;
subsidiary companies in
Aug. 1920 was as follows; Orpheum Theatre & Realty Co. 6s, due Sept. 1
1946, $2,096,000;
Orpheum Theatrical Co., Ltd., 6s, due Feb. 5 1922,
$145,000; The Palace Theatre Co., Inc. 7s, due July 2 1921, $100,000;
State-Lake Theatre & Realty Co. 6s due Dec. 29 1927, $725,000.—V. Ill,
p.
1092.
EARNINGS.—Gross income for the year
ending Dec. 31 1920, amounted
$15,563,815; expenditures, $12,171,857; net income, $3,391,958.
Net
profit after deducting $575,000 for Federal taxes, totaled $2,816,958.
OFFICERS.—Pres., Martin Beck; Sec. & Treas., B. JB. Kahane.
N. Y.
office, 1564 Broadway.—V. 112, p. 751.
to
CO.—Incorporated Nov. 28 1898 under the laws of
about 13 piants. See V.67,p. 1161; V. 74, p. 271.
441; V. 91. p. 399; V. 94, p. 825; V. 100. p. 1076;
$1,700,000 Otis-Fensom Elevator Oo. of Toronto
stock. which has also outstanding $1 000,000 7% cum pref stock.
V. 96,
p. 1093.
Investigation in Missouri, V. 99, p. 1455.
The stockholders
voted on April 19 1920 to increase the authorized common stock from
$10,000,000 to $15,000,000.
OTIS ELEVATOR
New Jersey and took over
V. 75, p. 552; V. 83, p.
Owns over 99% of the
Apr'14 to Jan'20. Apr'20 to Oct'20. '21
DIVS.—/Apr.'11 to Jan. *14.
(1% quar.)
IH% <P*ar
On com.% 1 4% yly.
In Jan. 1921 paid
..
1nol
2% quar.
text
2% quar. and 2% extra; April 1921, 2%.
On May 4
1921 the directors declared a dividend of 50%, payable in common stock
on July 1 1921, increasing the outstanding common stock from $9,485,100
to $14,227,630.
V. 112, p. 1983.
REPORT.—For cal. year 1920, in V. 112, P- 1613:
Cal.
Net
Pension Reserves,
Federal
Pf.Dtvs. Com.Div. Balance,
Yrs.
Earnings.
Fund.
&c.
Taxes.
(6%).
(5%) Surplus.
$
$
$
$
$
$
S
1920 .6,645,750 100,000 1,605,750 1,550,000 390,000 not stated 1,000,000
1919 -3 031 626 100 000
946,086
750,000 390,000 not stated 845,540
1918
1 803 409
70 000
340,919
380,000 390,000 318,575
303,913
1917 :i 788 577 100,000
739,305
150,000 390,000 3181.675, 90,697
For 3 mos. ended March 31 1921 net earnmgs were $1,695,088; reserve
for Fed. taxes, $375,000; reserve for pension fund, $25,000; net income,
.
$1 295 088
Furlow; Sec.. T. M. Logan;
Office, 11th Ave. between
1523, 1613.1874, 1983, 2090, 2198.)
Chairman, W. D. Baldwin; Pra., Floyd O.
R. H. Pepper; Aud., O. K. Kirkbride.
Treas
26th and 27th Sts
.
N. Y.—(V. 112, p.
.
STEEL CO., CLEVELAND.—ORGANIZATION.—Incorp. In
1912 and acquired the Otis Steel Co., Ltd., an English Co.,
registered in 1895.
In July 1919 reorganized and acquired the
OTIS
Ohio Jan. 3
Cleveland
Properties comprise: (a) the Riverside Works occupying some
which are 2 blast furnaces, 100 Semet-So vay by-product
coke ovens, mills, ore docks. &c.; (6) The Lakeside works, on about 22
acree, on which are 8 open-hearth steel furnaces, xmlls and foundry.
Com¬
bined annual capacity 360,000 tons pig iron, 275,000 tons plates, 84,000
tons light plates and sheets, upwards of 30,000 tons of steel casting, 10,000000 lbs. ammonia, 3,500,000 gallons tar, 1,250,000 gallons crude benzol
and toluol and 600,000 lbs. sodium farricyamde.
See V. 109, p. 178, 277.
New construction in 1920, V. 110, p. 876.
Furnace Co.
350
acres,
on
STOCK.—Pref. stock is
stock issued out of
callable at 110.
profits after pref.
Sink, fund, 3% of total Pref.
divs. beginning 1925.
No mortgage
stock. Wm. Salomon & Co., in
Mar.
V. 110, p. 1193.
....
/
Common stockholders of record Mar. 1 1920 were given the right to
subscribe to additional pref. stock at par at rate of one share of pref. for
each 8 shares of common held.
V. 110, p. 770, 876.
DIVIDENDS.—Since incorporation had paid the regular s-a divs. on
of 2-3 of outstanding pref.
1920 offered $5,000,000 pref. stock.
without consent
its old pref. stock, called for payment on
quarterly have been paid on the new prof.
yS 6tOCk <par
*100,1 §13* 601914'
1
1
Oct. 1 1919. Divs. of IJi%
(Q -J-) to Apr. 1921.
On the
19l£l6
None
"1*917 (+10ext) 1919
mis
12&10
5
MAY, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES.
[For abbreviations, <&c., see notes on page 6.]
STOCKS AND BONDS
Date
Par
Amount
Bate
When
Bonds
Value
Outstanding
%
Payable
Owens Bottle Co—Com stock $30,000,000
Pref stk (a A d) 7% cum callable at 115 & dlvs
$20,000,000
Pacific Coast Co—Stock common $7,000,000 (see text)
First pref (a A d) stock $1,525,000 5% non-cumulative..
Second pref (a Ad) stk $4,000,000 4% non-cum (see text)
First mortgage $5,000,000 gold....
Ba.xxo*
Serial notes due about $50,000 yearly after 1920
Pacific Cotton Mills Co—Common stock $3,000,000 auth__
Pref (a A d) stock 7% cum call (text) $3 000,000 auth.
Pacific Development Corp—Stock 500,000 snares
Pacific Qas & Elec Co—Com stock $100,000,000 auth..
1st pref cum $50,000,000 auth
2d pref stock 6% cumulative
First A ref. mtge. Series A red. (text)
...MSxxxc* & r*
Gen & Ref M ($150,000,000) g s f call
„_xxxBac*Ar*
Bay Counties Power Co 2d M
g
1919
100
1920
1911
1907
zz
1898
1899
1901
zz
_MSzz
Sacramento El Gas A Ry 1st M g call 103 for s f
czz
Central El Ry 1st M ($400,000) $25,000 due ann e_._zz
Standard Elec Co 1st M guar p & i
_.zz
Blue Lakes Water 1st M not call
zz
United Gas & Elec Co 1st M gold
s
f._
MSc*xxx
•All of these issues have been closed under the terms of
y
1897
1892
500-1.000
1899
1893
100 &c
1902
the G en.
Does not include $16,000,000 bonds deposited as collateral for
1920
1918
1919
$1,906,425
$1,603,620
_...r
765,337
610,758
$2,876,579
10,729
550,000
Net profit for year...
$1,141,088
$992,862
$2,315,850
Depreciation
A
1917.
$5,694,624
89,203
550,000
$5,055,421
DIRECTORS.—William G. Mather, Chairman: George Bartol (Pres. A
Treas.), D. T. Croxton (V.-P.), Howard F. Deverell (V.-P.), 8. Livingston
Mather, H. A. Raymond, O. A. Otis, John Sherwin, P. F. Wilson, Cleve¬
land; E. R. Tinker, Elisha Walker, New York: with H. B. Miller (Sec.).
Office. Leader-News Bldg., Cleveland.—(Y. Ill, p. 185, 499, 1858, 2090.)
OWENS BOTTLE CO.. TOLEDO.—ORGANIZATION.—Incorporated
on Dec. 16 1907. succeeding a N. J. corporation of the same name
tn Ohio
Incorporated Sept. 3 1903.
The word "Machine" was dropped from name
in May 1919. V. 108, p. 2027. Owns the U. S. rights to use and license
other manufacturers to use the Owens bottle-making machine, the patents
covering which are held by the Toledo Glass Co., an Ohio corporation.
Plants at Toledo, O., Clarksburg, Falrmount and Charleston, W. Va.. and
Greenfield, Ind.
Output Includes bottles for catsup, chill sauce, salad
dressings, syrup, perfume, proprietary medicines, druggists' bottles. See.
See stock, v. 103, p. 1795, 935, 936, 1596.
In July 1917 purchasedproperty of Kanawha Mfrs. Glass Co. and July 11918 the Whitney Glass Works.
In Dec. 1919 acquired control of the Chas. Boldt Glass Co. through ex¬
change of stock.
V. 109, p. 2270.
Other purchases, Y. 109, p. 773.
STOCK.—The preferred stock Is entitled to cumulative pref. dividends
of 7% per annum; to priority as to assets to its par value plus accrued divi¬
dend; and is subject to redemption, all or part, at 115 and dlvs. 6n99
notice.
Recapitalized in 1916. old pref., $500,000, being retired
and $7,257,400 new pref., also $1,550,000 new common, belnor issued
Y. 103, p. 935. 669, 1596; V. 104, p. 2122. 2016.2456.
To reimburse the
days'
treasury for construction of new plants at Glasboro, N. J., and Charleston,
W. Va., common stockholders of record April 21 1919 were offered the
right to subscribe at par for $3,000,000 new pref. stock issued June 111919,
DIVIDENDS ON COMMON STOCK.—
'lO-'ll. "11-'12. "12-*13. '13-'14. *14-'15. *15-'16. '16-"21.
Paid In cash.. %
10
12
12
12
12
12
text.
Paid in stock....
50
33 1-3
25
20
On Oct. 1 1916 paid on common shares regular 3% and an extra 8%
V. 103, p. 1122.
From Jan. 1 1917 to Jan 1918. Inch, paid 20% p. a„
Incl. for each quar. regular 3% and 2% extra.
In April, July and Oct.
1918 paid regular quarterly 3% in cash and extra dlvs. of 2% on the common
stock in Second Liberty Loan 4s at par.
Jan. 1919 to Apr. 1921 paid 3%
quar.; June 1921 paid 2%.
A stock dividend of 5% was paid July 1 1920
and a stock div. of 50% was paid June 1 1921.
..
..
BOTTLE SALES.—For cal. year 1919 (incl. sub.
cos.) aggregated 5,092,-
322 gross bottles; for 1920 estimated 6,870,000 gross.
REPORT.—For 1920:
Calendar Years—
Other
.......
._
.
.......
...........
Expenses, &c., charges
Federal taxes and contingencies
....
Net
$6,469,104
1,319,699
$2,744,180
1,295,616
$7,788,803
$2,143,198
1,423,400
$4,039,796
$773,407
300,000
$4,222,205
income
Total income.
1919.
1920.
Manufacturing profit and royalties
*713,000
♦1.203,000
R ef. Mtge. of
5-year 7%
REPORT.—For 1920, in V. 112, p. 2090, showed:
Profit after Fed'l taxes..
Int. on bds. & gold notes
$2,966,388
The report for the first quarter of 1920 shows: Manufacturing profits antl
royalties, $649,412; other income, $284,457; total income, $933,869; ex¬
penses, interest, &c., $365,680; Federal tax, $65,000; surplus, $503,189.
OFFICERS.—Pres., E. D. Libbey; Sec., F. L. Geddes; Treas., H. H.
Baker.—(V. 112, p. 1623, 2090. 2198.)
PABST BREWING CO.—See "Ry. & Ind." Section for Nov. 1920 and
also V. Ill, p. 2331; V. 112. p. 939.'
PACIFIC COAST COMPANY (THE).—This company owns all the
securities of Pacific Coast RR; (old Col. A Puget Sound RR.), Seattle to
Franklin, Wash., &c,, with branches, 57 miles; Pacific Coast Ry. (narrow
gauge). Port San Luis, Cal.. to Los Alivos, Ac., with branches, 103 miles;
Pacific Coast Coal
Co., owning Franklin mines, with 3,850 acres at Frank¬
lin, Wash., Black Diamond mines, with 4,670 acres at Black Diamond,
Wash., Newcastle mines with 2,520 acres at Newcastle, Wash., Issaquah
mine with 1,600
acres
at
Issaquah, Wash.,
South Prairie mine, with
1,140 acres at Burnett, Wash., and Hyde mine with 1,120 acres at Cumber¬
land, and coal-handling plants at Seattle, Tacoma, San Francisco and Port¬
land, Ore., Juneau and Nome, Alaska. (V. 83, p. 1048.)
MA
$33
DIV. Since *09—
f'll. '12. '13. *14. *15. *16. *17. '18. '19. '20.yHIT.
66652
—%
04442
See
First preferred
.%
5555555555
text
Second preferred
%
666544
4
444
After 4% on 2d pref. and com., these share equally. V. 92, p. 122.
Id
Aug. 1914 dlvs. on 2d pref. and com. were reduced from 1 ii to 1 % quar
V. 99, p. 202.
The common div. was resumed Feb. 1 1917 at 1% quar.;
which rate was paid to and including Nov. 1 1919; thereafter none until
Aug. 2 1920, when 1% was paid.
V. 111. p. 300.
Nov. 1920. 1%.
V.
Ill, p. 300.
Nov. 1921, 1%.
Feb. 1921 div. omitted.
V. 112, p. 265.
Common
,
NOTES.—Issue of 1919,
see
V. 109, p. 1457.
REPORT for years ending June 30:
June 30 Years—
1919-20.
1918-19.
Gross earnings
$5,494,884
$5,312,938
Net after taxes...
$654,040
713,754
Total income.
bonds
\
268,000/
Miscellaneous...
Interest
J
\
Div.
on
Div.
on
Div.
on
on
1st pref. (5%)..
76,250
2d pref, (4%)_.
160,000
common..
(2%) 14,000
1917-18.
1916-17.
76,250
160,000
(4)280,000
$5,815,400
$978,857
1,181,543
250,000
18,428
76,250
160,000
(4)280,000
$5,859,494
$966,546
996,413
249,131
75,699
76,250
160,000
(3)210,000
$20,690
$396,865
$225,332
$722,397
794.483
250,000
7,543
J
&
J
M
M
A
I1
M
A
D Dec. 1
&
A
A
le
A
A
&
6
J
&
5 g
F
&
do
New York & San Fran.
In N. Y. A San Francisco
1940
1 1942
J Jan
S Mar 1 1933
N Nov 1 1937
S Sept
O Apr
Mercantile Tr Co, San Fr
At off ice of company
do
do
1 1930
1 1931
Union Trust Co, San Fr
O Oct 1 1928
D June 11929
do
Mercantile Tr
M
&
A Aug 1 1931
N Nov 1 1927
J
M
5
6
Checks mailed
do
do
?a
&
D June *21
&
S
to '22
In San Francisco
Sept 1 1939
*
In N Y, San Fr & London
do
do
M-S 15 Mar 15 1938
J
&
J July 1 1932
5 g
1911.
do
Co, San Fr
Guaranty Tr Co, N Y
Union Trust Co, San Fr
Notes
PACIFIC COTTON MILLS CO.—Incorp. in Calif., July 15 1919.
Organized by Goodyear Tire & Rubber Co. of Akron, O., to manufacture
cotton fabric for use of the Goodyear Tire & Rubber Co. of Calif, in the
manufacture of tires and other Goodyear products.
Entire output of
factory being erected at Los Angeles will be sold under contract to the Cal¬
ifornia company at cost plus a profit of 10%, said profit applicable to divi¬
dends to be not less thanpref. div. requirements.
CAPITAL STOCK.—The entire $1,000,000 outstanding common stock
is owned by Goodyear Tire & Rubber Co. of Akron, O.
Pref. stock is
redeemable at 105 until 1924 and at 110 thereafter.
DIVS.—Pref. divs. are payable quarteily, Jan. 1, Ac., and are to be
advanced by Goodyear Tire A Rubber Co. of Akron until such time as the
Pacific Cotton Mills Co. is in operation.
OFFICERS,—Pres., H. F. Stewart; V.-Pres., D. A Hamburger; Sec.,
Geo. G. Griffin; Treas., D. J
Koonce.
Office, 909 Washington Bldg.,
Los Angeles Cy&l*
DEVELOPMENT CORP.—ORGANIZATION.—Incorp In
York, Jan. 18 1917, primarily
following companies engaged in
development, especially in the Orient.
*
—
„
Andersen, Meyer A Go., Ltd. (99.75%), Hartmann Bros. Inc. (100yo..
Hartmann Pacific Go. Inc., formerly known as New York Pacific Commer¬
cial Co. (100%), American Machine A Mfg. Co. (100%), Sun Cheong
Milling Co. (100%). W. G. Pratt A Co. Ltd. (100%), International Vege¬
table Oil Co. (100%). South Seas Pacific Co. Inc. (100%).
V. 104, p. 668;
V. 106, p. 2564; V. Ill, p. 79,300.
STOCK.—The auth. stock was Increased from $5,000,000 to $10,000,000,
Feb. 21 1918 and to $25,000,000 on May 5 1920.
V. 108, p. 933; V. 110,
p.
1978.
Stockholders of record July 15 1919 were given the right to
subscribe at par ($50) for one share or stock for each share held.
V. 109,
p. 178.
Stockholders of record June 18 1920 wsre given the right to sub¬
scribe at par ($50) for one share of stock for each two shares held.
V.
PACIFIC
New
the
110. p. 2493.
Stockholders on Dec.8 1920 authorized the changing of the capital stock
from 500,000 shares, par $50, 1920, to 500,000 shares of no par value, the
old stock to be exchangeable for new. share for share.
The shareholders
also approved the offering of 64,388 shares of new stock at $25 a share on the
one share of new stock for each four shares of old stock issued or
basis of
subscribed for.
V. Ill, p. 2144.
DIVIDENDS.—Initial
paid Aug. 15 1917, which
dividends of \%%
paid quarterly to Aug. 15 1919, incl.; Nov. 15 1919 to
1920, 2% quar.; Nov. 1920 div. passed.
V. Ill, p. 1667.
rate was
Report for calendar
year
1919, in V. Ill, p. 79, 599, showed:
1918.
1917.
$1,736,905
627.299
281,095
330,391
$1,226,624
334,746
101,600
112,312
..>def.$74,811
$119,268
$103,455
Expenses.!
Dividends
Balance,
Aug, 16
$697,718
309,871
443,025
Calendar Years—
Net profits sub. cos. aft. est. war taxes
Dividend income Pacific Dev. Oorp._
paid
surplus
1919.
DIRECTORS.—Andrew W. Preston, Arnold Hartmann, E. B. Bruce
(Pres.), H. M. Billingsley, Francis R. Hart, Frank Hawkins, Galen L.
Stone (Chairman), Herbert Fleischhacker, Herbert H. White (V.-P.),
J. W. Conway, Lester H. Monks, M. F. Lowenstein, Richard F. Hoyt,
Royall Victor (V.-P.), Vilhelm Meyer, George W. Simmons, William
Endicott, John M. Switzer, J. W. Farley, W. W. Banks, Charles Meurer,
N. Y.
Office, 86 Wall St.—(V. 112, p. 1523, 1874.)
PACIFIC FRUIT EXPRESS CO.—(V. 110. p. 2082.)
PACIFIC
profit
6
39,000
*2,071,900
1,000
1,000
Aug 16 '20
Apr 15 '21
p
May 16 *21
Q—F15 May 16 '21 1V.
Is
5 g
5 g
1,000
3,889.000
1,000 *18,531,000
1,000
*1,040,000
1,000
*522.000
1,000
*166,000
1,000
*179,000
1,000
*605,000
1,000
*1,988,000
1900
1901
See text
Q—J
"qpy
6
33,628.230
100
56,800
500 Ac 10,000,000
1,000 y36,542,000
1903
UScAr*xx
MSxxx
.USxxx
...
See text
100
100
3,000,000 See text
Text
None 323,064 sh.
100 34,004,058 5 in 1920
._MSc*xxx
call 105
See text
Q—J
By check
7
Apr 11921 1*A
do
Q—J
do
Nov 1 1920
Bankers Trust Co, N T
7,000,000 See text
5
1,525,000
May 11921
do
do
Q—F
4
do
4,000,000
May 1 1921 1%
do
Q—F
J
A
D June 11946
5.000.000
5 g
do
do
1921-1925
265,000
1.000
....
Nevada Co Elec not callable 1st M
Yuba Elec Power not callable 1st M
Cal Cent Gas A Elec Co 1st M g s f not call
Places Where Interest and
Dividends are Payable
9,587,500
100
100
1897
.........
Oal Gas A/Gen M & Ooll Tr g s f call 110..
El Oorp i Unify'g & Ref M g call 110
Bay Counties Power Co 1st M g not call...
Last Dividend
and Maturity
$25 $17,371,900 See text
100
100
..
....
309
GAS
&
ELECTRIC
CO..
Francisco— See Map—
San
ORGANIZATION.—Incorporated in Cal. Oct. 10 1905 as a consolidation
and owns and operates extensive properties employed in the production
and sale of electricity and gas for light, heat and power, about p6% of its
revenues being derived from electricity and about 38% from gas.
It also
owns and operates the entire street railway system of Sacramento, 44 miles
of track, and is engaged In- the sale of steam for heating and of water
for irrigation and domestic purposes, deriving approximately 8% of its reve¬
nue from these and other less important activities.
All the properties, ex¬
cept those of the recently acquired Mt. Shasta Power Corp., owned in fee.
The operations of the company extend Into 36 counties of central and
northern Calif., having an area of 47,242 sq. miles and a population (19101
of 1,390,000,
The business field embraces a present estimated population
of 1,850,000, and includes the important San Francisco Bay section and
the fertile Sacramento and Joaquin Valleys.
The cities of San Francisco,
Oakland, Sacramento, San Jose and 176 other communities are served by co.
At the close of 1920
the company owned and operated 24^ hydro¬
electric generating plants having an aggregate installation of 271,500 h. p.,
four
modern steam turbine electric plants with an aggregate installation
of 156,500 h, p., also 303 sub-station sand 7,700 miles of transmission and
distribution lines with a connected loand of 773,808 h. p.
The gas department includes twenty manufacturing plants with an aggre¬
gate capacity of 71,594,000 cubic feet per day and 2,996 miles of mains.
In Oct. 1919 had arranged to purchase the properties and most of the
$10,000,000 capital stock of the Northern California Power Co. Consoli¬
dated at $34 per share, thus acquiring 525 miles of high-tension lines and
1,611 miles of low-tension lines, a valuable power site on the Pitt River,
Sotential development of at least 90,000 h.p. and six hydro-electric genearataggregate Installation
ig plants on Battle Creek and Cow Creek, with an
of nearly 50,000 h.p., then marketing 30,000 h.p.
Dec. 1919 applied to the Calif. R. R. Comm.
years
V. 109, p. 173.
In
for permission to lease for 15
Co. V. 109, p.
the properties of the Sierra A San Francisco Power
Franceses in over 176 cities and towns, it is
U. S. Supreme Court on April 6 1914 having
claimed, are perpetual, the
ruled that all franchises of
»ct. 10 1911, corporations within the State of California obtained
Sublic service were of perpetual duration and could not be altered.prior to
75-cent gas rate held valid.
p
195 499
See V.
109,
p.
2444.
Rate increase, V.
Ill
STOCK.—In" July 1914 the Issuance of the Initial $12,500,000 1st pref.
stock (auth., $50,000,000) for impts., exts., refunding, Ac., was authorized.
The old pref. stock ($10,000,000 auth. and outstanding) became 2d pref.
and the auth. amount of com. was reduced from $150,000,000 to $100,000,600.
V. 98, p. 1846; V. 99, p. 121.
The 2d pref. stock is convwtible
since July 1 1916 Into 102 M % of 1st pref. and has mostly been thus retired,
only $56,800 being outstanding Dec. 31 1920.
From July 1920 to Feb. 1921 sold $6,000,000 first pref. stock and used
proceeds for additions and betterments to property.
In March 1921 was
authorized to issue $3,000,000 first pref. stock for additions A betterments.
Common stock
to
the
amount of $31,696,867 in addition to that
reported outstanding is owned by subsidiary companies.
,
Balance, surplus
$69,504
OFFICERS, Ac.—Pres., Wm. M. Barnnm, N. Y.; V.-P. & Gen. Mgr..
N. Y
E. O. Ward, Seattle; Sec., John H. Kelly; Treas., Walter Barnum.
office, 50 Church St.—(V. 112, p. 265.)
210
[VOL. 112.
STOCKS AND BONDS
INDUSTBIAL
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INDUSTRIAL
MISCELLANEOUS COMPANIES.
[For abbreviations, &c., see notes on page 6.]
Date
_«
fd $25,000
ann
Bate
%
Payable
1900
1891
_xxxc
1904
1911
1897
1902
calL—MSxxxc*
1902
fter&Cons M $10,000,000 s f callable 1915 at 110,USxxc*
Collateral tr convert notes red 101
xxx
Underlying bonds outstanding as of Dec. 1920 $116,000
Guaranteed Bonds of Northern Col, Power Co.
Sacra Val Power 1st M call 1919 at 105 sink fund
s
1908
1920
1st and Befundlng mortgage call at 105..
xx
•aclflc Lt & Pow Corp—See Southern Calif Edison Co below
*aclfic Mall SS Co—Common stock-...........
Pacific Oil Co—See text
•
Vacific Power & Light Co—Common stock, $7,000,000
Preferred (a & d) 7% cum $4,500,000 red 115
Second pref 7% cum red par convertible $2,500,000
w,"st & Ref M $30,000,000 gold see text
Usm.xxc*dbr*
First lien and gen mtge (see text)
Usm.xxxc*
**vtflc Telep & Teles—1st M $35,000,000
gold red 110
1911
_
.
500
1909
500 &c
500
500
500
1,000
1,000
x
DIVS—
are
pledged to secure the first lien &
in stk %
..
_.
—
oX 2X
—
50
..
-
1910
1920
gen, mtge .8%
5
3X
Operating
Net after
Revenue.
Years—
Taxes &Dep.
text
269,870
235,719
14,587
—286,542
266,132
16,234
Preferred
Dividends.
Water
Steam
452
Total
443
569.360
520,619
254,433
209,412
12,705
463
1915.
227,586
166,149
9,432
446
378
450,657
403,545
OFFICERS.—Pres., W. E. Creed; V.-P. & Gen. Mgr., John A. Britton;
& Treas., A. F. Hockenbeamer; Sec. 8c Asst. Treas., D. H. Foote;
Sec., Chas. L. Barrett; Asst. Treas., Le Roy Moore.—(V. 112, p.
855, 1623.)
V.-P.
Asst.
,
PACIFIC MAIL STEAMSHIP CO.—Incorp. in April 1848 in N. Y.
1920 owned 12 steamers having an aggregate gross tonnage of
On Dec. 31
41,237 tons.
Operates from San Francisco (a) to Hawaii, Ja-an, China
and the Philippines; (b) direct to Manila, Singapore, Calcutta and Colombo;
g:) via Centralundo: the IJ. S. flag.
American ports to Panama; (a) via the Panama Canal to
altimore, all
REPORT.
For year
Net
Calendar
Years—
1920. *
1919
1918
1917
l'920, in V. 112,
Revenue.
—
$1,622,470
2,376,761
1,686,250
2,454.632
p.
1151, showed:
Common
Dividends.
Preferred
Dividend.
(50%) 750.000
(60%)
89,250
119.000
900,000
(60%) 795,000
(70%) 805,000
War
Balance,
Surplus.
$345,000 $527,470
600,000
876,761
800,000
$2,000
945,255
585.377
20%; Dec., 10% and 10% extra.
June 1921 div. was omitted.
112, p. 2198.
Holders of the $1,150,000 common stock of record Aug. 5 1918 had th«
right to subscribe pro rata at $25 a share for 70,000 new common shares,
par $5 each, paying therefor Sept, 3.
V. 107, p. 86.
Pres., George J. Baldwin; V.-P. & Sec., G. C. Carson, 120 Broadway
N.Y.—(V. 112, p. 1151.)
with extra of
V.
,
PACIFIC OIL CO.—Incorp. in Dela. Dec. 3 1920 with a capital stock
of 3.500,000 shares of no par value, for which the Southern Pacific Company
subscribed for at $15 per share, or $52,500,000.
From the amount so real¬
ized the new company purchased from the Southern Pacific Land Co., as
of Jan. 1 1921, for $43,750,000:
(а) About 259,000 acres of land now owned by the Southern Pacific Land
Co., situate in the State of California, of which about 25,000 acres
are proven oil lands and the remainder lands heretofore withdrawn
fiom sale as possible oil lands, together with existing field improve¬
materials and
supplies;
(б) 200,690 shares, par value $20,069,000, representing 50.48% of the
outstanding capital stock of the Associated Oil Co.
(Compare V.
112, p. 650).
By the sale of these properties the Southern Pacific Land Co., the entire
capital stock of which is owned by the Southern Pacific Co., will thus receive
„
fig
fig
8c
June 11932
Dec 11948
New
8a
7g
8c
May 11925
Ohic, N Y or San Fran
8c
May 1929
July 11941
Anglo-Cal Tr Co, San Fe
M
J
6
6
text J
8c
&
32.442.000
of
e.
J
fig
&
do
do
text
Aug 1 1930
J Jan
Fran
San
or
do
New York
D See text
See
York
do
21937
do
do
S Mtg
do
& Tr Co. N Y
N Y and San Francisco
U S Mtg &
Tr,NY;& S Fr
1911.
$27,000 ar
e
in treas ury.
$43,750,000 in cash and the Pacific Oil Oo. will retain $8,750,000 as working
capital.
Oil contract with Southern Pacific Co.—V. 112, p. 650, 2090.
Holders of the capital stock of the Southern Pacific Company, at the close
on Jan. 14 1921 were given the right to purchase at $15 per share
of business
share of stock of the new company for each share of Southern Pacific
Co. stock so held.
EARNINGS.—For 3 months ending March 31 1921 in V, 112, p. 2090.
one
i
OFFICERS.—Chairman of Exec. Comm., Henry W. De Forest;
Paul Shoup;
Pres.,
Sec. & Treas., Hugh Neill.—V. 112, p. 476, 650,2090.
POWER & LIGHT CO.—ORGANIZATION.—Incorporated
in Maine on June 16 1910 and serves an extensive territory In Washington,
Oregon and Idaho.
Furnishes electric power and light service to 57 com¬
munities, artificial gas service to 7 communities, street railway service to 2
communities, interurban railway service to 5 communities and water service
PACIFIC
to 4 communities. Among the communities served are Walla Walia, Yakima
and Vancouver, Wash.; Astoria, The Dalles, Pendleton and Hood River,
Ore.; and Lewiston, Ida.
V. Ill,
799.
...
(controlled by the Electric Bond 8c
aad second preferred stock.
p.
.
The American Power & Light Co.
Share interests) owns all of the common
STOCK.—Both
pref. stocks are subject to redemption after due notice,
The 2d prof, shares
the pref. at 115 and div., the 2d pref. at par and div.
also convertible in lots of 1,000 shares or more into
are
pref. stock,
par
for
par, whenever, in any 12 consecutive months, earnings applicable to divs.
shall have been 2X times div. requirements upon pref. stock, incl. stock
which it is proposed to
V. 94. p. 70, 20$.
issue in exchange. V. 91, p. 1634; V. 93, p. 1726;
Dividends.—On pref., IH% quar.
from Nov. 1910 to May 1921.
On
May 1 1921. incl., paid 1 H% quar.
2d pref., 6% In 1912; from Jan. 1913 to
On common .not announced.
BONDS.—Of the
1st & Ref. 5s
($30,000,000 auth. issue), $10,146,000
issued, of which $1,000,000 are pledged to secure $1,000,000 first
lien and general mortgage bonds, and $27,000 are in treasury.
The un¬
issued bonds are reserved for issue at 80% of the actual cost, reasonable
worth and replacement value of improvements and additions, when net
have been
earnings for preceding 12 months are at least twice interest on all bonds
out and to be issued.
Subject to call as a whole or in part at 105 and int
and int. in 1927, 102 and int.
to Dec. 31 1925, 104 and int. during 1926, 103
in 1928, 101 and int. in 1929 to July 31 1930.
V. 96, p. 793; V. 100. p. 402.
V. 93,
.
p.
536; V. 94, p.279;
,
,
,
_
^
bonds are redeemable at 105 and
int, to Aug, 1 1925, and 1% per annum less thereafter until maturity,
Mortgage provides that additional bonds may be issued in different series,
provided tnat no new series may be issued maturing earlier than the existing
series, and only when the net earnings for the 12 months preceding shall
have been equal to at least twice the interest charges on all First & Rot,
Mtge, bonds outstanding, and all First Lien 8c Gen, Mtge, bonds outstand¬
ing, together with those proposed to be issued,
Secured by an equal
amount of the company's 1st & ref, mtge, 5% bonds, and by a general mtge,
on the entire property now owned or hereafter acquired,
V, ill, p, 799,
The first lien and gen, jntge, 8% gold
Mar. 31
June 30
years
1921
1920-
Dec, 31 1919
ending:
Gross,
$2,766,056
2,407,432
Net,
$1,318,433
1.122,161
Int.,etc.
$609,481
Surplus,
$708,952
450,374
2,186,014
1,049,687
443,772
671,787
605,915
—
,
OFFICERS.—Pres., Guy W. Talbot. Portland. Ore.: V.-Ps.. E. W.
fill. F. G. Sykes, A. S. Grenier, 71 B'way, N. Y.; J. A. Lahig and Edw.
Tookingham, Portland, Ore.
Sec. 8c Treas., George F. Nevins, Portland,
>re.
Asst. Sec.. E. P. Summerson; Asst. Treas., William Reiser, 71 B way,
N. Y.
Offices, Portland, Ore.. and 71 B'way, N. Y.—(V. Ill, p. 699,799.)
PACIFIC TELEPHONE fife TELEGRAPH CO.—ORG ANN .—Incorp.
In Oal.
Dec. 31
1906.
V. 84. p. 64,
163.
Stations Dec. 31 1920,
1,034,203.
In March 1912 purchased the Bay Cities Home Telep. Co. for
$895,000 cash, $1-300.000 Pac. Tel. 8c Tel. stock and $7,080,000 Home Long
Distance Telep. Co. bonds guar, by the Pacific Tel. 8c Tel. Co.
V. 95, p.
180, 1406; V. 96. p. 207. 291.
In 1917 was authorized to purchase pref.
stock v. t. c, of t; 8. Long Distance T. & T. Co.
V. 105. p. 1314. 1807.
In May 1918 purchase of San Diego Home Telephone Co. for $650,000 was
pending, V. 106, p. 2014.
During 1920 acquired the properties of the
Golconda Telephone & Power Co., Utah Nevada & Idaho Telep. Co., and
the Nevada Cons. Tel. 8c Tel. Co.
As to Southern California Telep. Co.,
seeV. 102, p. 1441.1631; V. 103, p. 1986; V, 106, p. 1692.
Rates and valuation case in April 1918, V. 106. p. 1800.
Rates held illegal, V. 109. p. 2270.
Stock, common, $18,000,000, all outstanding; pref., 6% cum. (also pref.
as to assets), $32,000,000 auth , outstanding $32,000,000_ American Tel.
& Tel. Co. owns a majority.
Pref. divs. paid regularly, 6% p. a. (Q-J. 15).
Taxes.
In June 1917
i per share (10%) was declared on
i dividend of 50 ce
In Dec. 50 cents a share (10%) with
the common stock, payable July 16.
an extra of $2 50 (50%).
In June and Dec. 1918 and 1919 paid s.-a.
div. of 50c. a share £10%) with an extra of $1 (20%).
In 1920: June, 10%.
ments and
Mercantile Tr Oo, San Fr
At office of company.
REPORT,—For
Balance,
Surplus.
243,182
194,374
12,655
477.013
Dec 11941
Sent 11922
Feb 11927
6
U
5
Number of Consumers Served for Calendar Years.
1920.
1919.
1918.
1917.
Electricity
8c
8c
8c
Checks mailed
do
b onds and
1920
...$35,385,834 $9,146,932 $5,226,973 $1,777,933 $2,142,026
1919..——... 26,582,688
7,833,561
4,493,208
1,528,961
1,811,392
1918.
22,595,517
7,375,388 4,304,085
1,490,463
1,580,840
Gas
5
6
May 2 1921 IX
..
Bond
Interest.
8c
Payable
Union Trust Co, San Fr
do
do
At office of Oo, San Fr
U S Mtge & Tr Co, N Y
Nov 3 1921
D June 11934
May 2 1921 IX
Aug I 1930
BONDS.—Of the $150,000,000 General and Refunding Mortgage bonds,
the unissued portion is reserved to retire underlying bonds, ana for future
additions, betterments and improvements at 90% of cost under conservative
restrictions.
$1,000,000 are in treasury, of which $875,000 deposited as
security for surety bond in rate cases; $815,000 have been canceled by sink¬
ing fund. Denom.: Coupon, $1,000; registered, $1,000, $5,000 and $10,000
Interest also payable in London, Berlin, Amsterdam, Paris and Geneva at
£5.2.9, 105 marks, 62 guilders or 129.50 francs, respectively.
Red. as a
whole (but not in part) Jan. 1 1937 on any int. date thereafter at par 8c int.;
also red. at 105 8c int. on any int. date on 60 days' notice in blocks of not
less than $500,000. Sinking fund of 1% p. a. of face amount of all under¬
lying bonds and bonds of this issue. See V. 94, p. 351. Listed on N. Y.
Stock Exchange. V. 103, p. 1211; V. 105, p. 1523. In Dec. 1918 $3,500,000
of this issue was sold on account of additions, making $36,542,000 out¬
standing. V. 107, p. 1837. 2477: V. 108, p. 79. 2144.
The first & ref. mtge. gold bonds are a direct first mortgage on the entire
properties (incl. the new Pit River power plants and high tension trans¬
mission line of the Mt. Shasta Power Corp. which will join with the Pacific
Gas & Electric Co. in execution of the mortgage.
Also a direct mortgage
on the entire properties of the company now owned and hereafter acquired
subject to the prior liens of underlining mortgages.
As additional security,
company agrees to secure from time to time the certification of all Gen.
& Ref. M. bonds which it may issue and will pledge the same under the new
mortgage.
Mortgage will provide for a semi-annual sinking fund of X % of all
outstanding bonds of company after deduction of underlying sinking fund
payments to be utilized in the acquisition and redemption or retirement of
First 8c Ref. M. bonds.
A large fund is also provided annually for the
maintenance and replacement of the properties.
Bonds are redeemable at 110 and Int., on or before Dec. 1 1930, and at
105 and int. thereafter.
V. Ill, p. 2528.
The old divisional bond issues were quite fully described In the "Electric
Railway" Section of Sept. 1918.
Further particulars as to leading Issues
may be feun
as follows: Oal. Gas 8c Electric Corp. (a) Unifying 8c Ref.
Mtge., V. 86, p. 1158,.980; V. 88. n. 1199; V. 90, p. 1677; V. 93. p. 1191:
V. 95. p. 1332; (b) Gen. Mtge. 8c Col. Tr. bonds, V. 94, p. 351.
$4,492.000 are deposited under Unifying & Ref. Mtge. and $1,048,000 on Dec. 31
1920 In sinking fund.
•
NOTES.—The $10,000,000 5-year collateral trust convertible notes of
1920 are convertible at par Into Pac. G. & Elec. Oo. 1st pref. 6% cum.
stock at 95 at any time prior to April 1 1925; or Into Pac. G. & Elec. Oo.
common stock at 80 on or before May 1 1922, and thereafter and
prior to
April 1 1925 at 85.
Secured by deposit of $16,000,000 Pac. G. & Elec. Co.
gen. & ref. mtge. 5s of 1942.
Calendar
J
5
are
U S Mtge 8c Tr Co, N *
Fanners L'n 8c Tr Oo.NY
Oakland Bk of Sav, trns.
July 11923
Sept 11930
6,100,000
7
Q—F
3.250,000
Q—F
1.000,000 See text
F
5 sr
<fc
A
1.000 xl0.146,000
F
&
A
8 g
500 &c
1,000,000
6
x Accumulated 20% in dividends settled in stock.
y. 89~ P."io4.
Dividends on common stock were resumed April 211919 after"an interval
of IX years, with payment of 1X % I to April 1921 paid 1X% quar.
..
J
A Aug 11938.
N Nov 11933
4Kg M 8c
Q—M
Q-F3
100
•06. '09. '10. *11. '12. '13. '14. '15. '16. '17. '18. '19-20. '21.
6
6
6
x
6
6
6
6
6
6
6
See
6
6
6
V.99,p.l21) IX
6
6
text
—
do
N May 11930
Dividends
100
Orig.(2d)Pf% IX
New IstPf %(V.98, p.1846;
Com—
%
-—
&
Places Where Interest and
100
beg 1922 s f
xo* Asr*
1907
1.000&C
All of these issues have been closed under the terms of the Gen. & Ref. Mtg
$1,000,000
&
F
lg
1.500.000 See
.
*
&
J
Eg
396,000
497.000
1,000
1,000
1,000
1,000
M
§g
*221,500
*6.657,000
*489,000
*600.000
*165,000
♦1,052,500
*17,500
3,500
808,000
3,849.000
10,000,000
500 &c
1,000
zz
—..zz
LIvermore Water & Power 1st M not call..........
USc
Oroville Lt 8c Power Co 1st M ($50,000)—
c
Northern California Pow
1st mtge gold
USxxc*
$1,000 $*1,700,000
1,000 ♦1.434.000
311
Last Dividend
and Maturity
When
Outstanding
1902
1893
1908
1903
.....
s
Amount
Value
MSxxx
zzF
c*xxx
USxxx
gold call 110
Pacific Gas Impt Mtge gold b fd call
Edison L& P 1st M............—...
Mutual Elec Lt Co 1st M call
Metrop Gas Corp
Par
Bonds
Pacific Oat fie Electric Co.—(Concluded).
Valley Counties Power Co 1st M g s f not call
So Yuba Water Pow Co Oona M
Suburban Lt 8c Pow Mtge not call
S P G 8c El Gen Mtge s fd gold..
STOCKS AND BONDS
BONDS.—"Firstand Collateral Trust" 5s of 1907 ($35,000,000, all issued:
Francisco, trustee) have a sinking
tuth. Issue, Mercantile Trust Co., San
und beginning 1912 which will retire
about 30%
by maturity.
V, 88,
V. 93, p. 349. 412;
>. 825;
V. 90, p. 854; V. 91. p. 720; V. 92, p. 1569;
7. 95. p. 180: V. 97. p. 954: V. 98. p. 309. 391.
i
Southern California Telephone Co., First & Ref.
V. 108, p. 486: V. 112, p, 569.i
HiEPORT.—For
,x
Mtge. of 1917, see
112, p. 855, showed:
Deductions-------------$3,542,546
Preferred dividends (6%)- 1,920,000
|
Balance, surplus.
1,007,550
OFFICERS.—Pres., G. E. McFarland; Sec., Theo. V. Halsey; Treas.,
Geo. J. Petty.
Office, San Francisco, Cal.—(V. 112, p. 379, 855, 939,
Operating
calendar year 1920, in V.
revenue.-
Gross income
$36,498,1391
6,470,0961
1623.)
PACKARD MOTOR CAR CO.—ORGANIZATION.—Incorp. in Mich,
tept. 1 1909 as successor or West Virginia co. of same name.
Plant at
Detroit.
V. 103, p. 576; V. 109, p. 77.
Extention to plant at
$1,750,000, practically completed in Nov. 1920.
V. 109, p. 1993;
1197, 2014, 2103.
Price reduction, V. Ill, p. 1858.
cost of
V. 107,
p.
STOCK.—The shareholders on June 26 1919 voted to Increase the auth.
stock from $13,000,000 to $30,000,000 and the pref. from $8,000,000
$20,000,000.
New pref. to the amount of $7,500,000 was then issued,
Oct. 28 1919 it was voted to reduce the par value of each share of com.
stock by subdivision from $100 to $1'0.
V. 109, p. 1608.
Pref. stock is
callable at 110 and divs. on notice up to Aug. 30 1919; thereafter at par.
V. 108. p. 2635; V. 109. p. 77. 1614; V. 102. p. 2172. 2250.
,
.
(u
■
The stockholders on May 24 1920 authorized the directors (a)
in their
discretion, and at such time or times as they deem advisable, to declare a
:om.
co
dividend or dividends payable In common stock"* (&) to issue and dispo
of such further amount of the unissued common stock "as may be necessa
INDUSTRIAL
213
[vOL. 112.
STOCKS AND BONDS
55'
57°
7leirt
fef°
■mlk
%i:iobos
-22
o
tuxpam
-zr
-a
20'
DAD DE
EXICO
VERA
4—
1
iW'lJI//',
/pc
50
0
i
i i i 1
o
f Miles
f
y
.
'"//I" JM?
■
'/a-TAHCUAYALAB
Map Showing Oil Properties,
ik
Oil Lines, Water Lines, Railroad,
and
Pumping Stations
of the
Huasteca Petroleum Company
Tuxpam Petroleum Company
TAmiahua Petroleum GOmpany
Mexican Petroleum Gompany
kSAN5JuSVf
LIMITED, OF DELAWARE,
cahpet
^
»
SUBSIDIARIES OF THE
PanAmerican Petroleum
$ Transport Company
&
■&
>-
't.
''if.
gg|ljf
temapache
5
^
w
ii©,' ' '
©de 6uuerre?
^islk:^err0
yiejo
21'
from, San Geronimo to CerroAzul.
Scale
ofMiles fee
i
May, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES.
[For abbreviations, &c., see notes on page 6.]
Date
beg May 1 1922
Par
Amount
Bate
When
Value
Outstanding
%
Payable
1912
xx
Home Tel & Tel Oo Spokane 1st M ass'd s f call 105__xxc*
Southern Oal Tel Oo 1st & Ref 5s
$12,000,000 g call 105
1906
1917
guar_
i'el & Tel Co 1st M
g s
z
1902
>s Ang l8t& Ref M $5,000, OOOgs rd2 % calfl 05 % 1920zc*
Packard Motor Car Co—Common stock $30,000,000 auth
1905
fd 2% (V 83.
p
216)
«fL
_
Pref stock 7% cum $20,000,000 callable 110 & div
Ten-year gold bonds redeemable (text)
$1,000
1,000
1,000
1.000
1921
500
10,000.000
50,077,000 8ee
20 099.2.50 See
&c
none
50
1915
1.000
1920
-xc*
6 g
1,000
2,000,000
7g
market at not exceeding 105 and int.
If any quarterly sum is not
exhausted by such purchases the balance is to revert to the co.
V. 112, p.
open
1624.
DIVIDENDS.—Pref.. 7% (1 H% Q.-M.) from Dec. 1909 to Mar. 1921
Common, 40% paid in common Stock Oct. 1913. 10% payable in com
ftock Feb. 1916 and 154% cash Feb., May, Aug. and Nov. 1 1916; 50%
payable in common stock Aug. 1 1916: 1917, Feb., Apr.. July and Oct. 31,
2% quar., then none till June 1918, 2%; July 1918, 2%: Oct. 1918, 4%.
Jan. and Apr. 30 1919 each. 2%: July 1919, paid 2^%; Oct. 31. 25^%
(quar,) and 2H% extra* Feb, 1920, 2^%* July 31 1920, 2H%: Oct, 30
1920, 2lA%Jan. 1921 dividend omitted.
V. 112, p. 265.
REPORT,—For years ended Aug, 31:
Years end, Aug, 31—
1919-20,
1918-19,
1917-18,
1916-17,
$5,616,702
$5,400,691
$560,000
$560,000
(6)710,382(754)910.636
Surplus
$3,884,027
$3,334,390
$4,346,320
Profit and loss surplus-$20.757,672 $16,992,251 $13,647,861
Balance sheet as of Feb 28 1921 in V 112, p 1624
$3,930,055
$9,311,541
DETROIT MOTOR CAR CO.—(V. 112,
p.
67.)
*
a fleet of 31 tank steamships with an
aggregate of 272,493 tons d. w. capac¬
ity, which is used in the service of the controlled companies
British Mexican Petroleum Co.—Incorporated in England in July 1919
with a paid-up initial capital of £2,000,000 (prospectively £4.000,000) onehalf subscribed by important British interests and the other half by the
market Mexican Petroleum oil and gasoline
in the Eastern
Hemisphere from tankers and tank farms, particularly
for the bunkering of ships with fuel oil.
Proposes also to erect refineries
to handle said ou.
Has contract with the Mexican Petroleum Co. for a
company
to
minimum period of 20 years,
V, 109,
p,
376, 1270* V, 111,
p,
1854,
STOCK.—On Oct. 22 1919 $70,000,000 of the $125,000,000 auth. com.
was made Class B com. with no
voting power but in all other
■tock
having the
respects
rights, &c., as the other com.
The initial block of this
offered till Dec. 22 1919, $100 per $50 share, to all stockholders
25 in amounts equal to 10% of holdings.
Announced
In Jan. 1920 that stockholders had subscribed for 102,996 shares of the par
same
was
Nov.
value of $5,149,800 and that 8,258 shares of the par value of
been taken by the underwriting syndicate.
$412,900 had
Holders of the minority com. shares of the Mexican Petroleum Oo. were
given from Nov. 5 to Nov. 20 the option to exchange the same $ for $ for
Class B shares with option to participate in the aforesaid subscription. The
offer to exchange was renewed in Dec. 1920.
V. Ill, p. 2331.
Balance of
pref. stock not converted was paid off on April 1 1920.
V. 109, p. 1705.
DIVIDENDS,—On
No, 1,1H%, Oct, 10 1917* Jan, 10 1918,1H%.
quar, 2%, half in Liberty bonds,
Oct,
paid 10% in Class B stock
In July 1920,
5% paid Jan, 10 1920* 3%
paid April 10 1920,
In July 1920 paid 3% in cash and 10% in Class B
stock.
V. 110. p. 2493.
Oct. 1920 and Jan. and April 1921 paid 3% in cash,
com,
April 1918 to July 1919
paid each
Apr, 1921 paid 3%
quar, in cash,
Also
On common B initial dividend of
BONDS.—First Lien Equip, bonds of 1917
109, p.
were
Nat City Bk, NY
N May 1 1947
J Jan 1 1933
J July 1 1945
Oct 30 '20, 2^
N Y and Los Angeles
Nat City Bank,& Ls Ang
&
&
"
Q—M"
Mar 15
'21
or
SFr
Office, Spokane
do
do
Detroit
do
1%
A
&
O Apr 15 1931
Guaranty Trust Co, N Y
Q-J 10 Apr 11 19213%
Q-J 10 Apr 11 1921 3%
F
&
A Aug 1 1930
Q-J
Apr 1 1921, 2% Columbia Trust Co, N Y
Oet 20 1920 $1
See text
Nov 10 1925
M&NJ10
In
F
&
A Feb 1
Bankers Trust Co. N Y
1923
STOCK.—Pref. stock is callable at 110.
Convertible Into Common stock
the ratio of one share of Preferred for two shares of Common stock.
25% of net profits after Pref. dlvs., but not less
thereafter,
$2,000,000
than $400,000 a year, until the Pref. is reduced to $3,000,000;
not less than $300,000 a year until the issue has been reduced to
and thereafter not less than $200,000 per annum until the
pref. stock has
been retired.
No mtge. without consent of 75% of the pref. Stock.
First
dividend of 2%
paid Jan, 1 1920* to Apr. 1 1921, 2% quar.
Listed
Chicago Stock Exchange,
See offerings in V, 109, p, 1614, 1993,
on
REPORT.—For calendar year 1920 showed: Gross, $6,901,587; net
income, $1,760,798; pref. divs., $293,474; pref. stock sinking fund, $400,000;
depreciation, &c., $992,143; surplus, $75,181.
OFFICERS.—Roy B. Jones, Pres.; J. A. Germany and Thomas MarrisVice-Pres.; L. O. McOlure, Sec.; M. A.
Wichita Falls, Texas,—V, 112, p, 1624.,
sey.
Chambers, Treas.
Office,
PARISH & BINGHAM CORP.—Organized under the laws of New York,
July 31 1919, and acquired, through purchase of the entire outstanding
capital stock, the assets and property of the Parish & Bingham Co., an Ohio
corporation, organized Dec. 29 1911.
Manufactures automotive frames
and steel stampings.
Owns in fee simple about 18acres located on the
New
York Central
RR.
CAPITAL STOCK.—Authorized and outstanding, 150,000 shares of no
Ear value. Issued for the exchange of $832,300operatingthe Parish & BingCo. and for $1,600,000 in cash to provide stock of capital.
am
DIVIDENDS.—An initial div. of 75 cents was paid in Oct. 1919.
In
Jan. 1920 paid 75 cents and 25 cents extra; April, July and Oct 1920, $1
1921 dividend omitted
EARNINGS —Net sales for the year ending Dec. 31 1920 were $9,128,443.
Net deficit after expenses, other charges and dividends ($450,000)
amounted to
$807,589.
Total surplus as of Dec. 31
1920, $2,332,363.
OFFICERS.—Agnes D. Morse, Pres., Gen. Mgr. & Treas.; F. K. Con¬
Sec. & Asst. Treas.
Main office, Clevland, Ohio; N. Y. office, 27
Cedar St.—(V. 112, p. 168, 1151.)
rad,
PAN-AMERICAN PETROLEUM & TRANSPORT CO .—(See Map.)—
ORGANIZATION —Organized in Delaware on Feb. 2 1916 and owns,
(1) $9,035,000 Pref. stock and $31,461,000 Com. stock of Mexican Pe¬
troleum Co., Ltd., being over 71 % of the total outstanding capital stock of
that company; $943,400 stock of The Caloric Co., $2,844,710 stock of
British Mexican-Petroleum Co., Ltd.. $250,000 stock of Bankers & Shippers
Insurance Co., and $1,265,152 stock of Pan-Amer. Pet. Co. of Calif; (2)
Pan-American
Where Interest and
Dividends are Payable
Jan
OFFICERS,—Pres., Alvan Macauley* V.-P., R. A.""Alger* Sec., F. R.
Robinson, Treas., F. L. Jandron,
Office, Detroit.—(V. 112, p. 265, 1624,
1984,2090.)
PAIGE
Places
J Jan 2 1932
15 May 15 1936
&
Sinking fund provides:
Net profits
$6,395,468
$5,433,634
Preferred dividend (7%) $1,028,297
$560,000
Common dividend <12H%)1,483,144(13)1539.244
Last Dividend
and Maturity
Text
BONDS.—The 10-year gold bonds, due April 15 1931, are redeemable
whole only at 107 H on or before April 15 1926, and at 105 thereafter.
Company will covenant to set aside quarterly sums equal annually to onetenth of the largest amount of these bonds which has ever been outstanding,
such sums to be used, so far as possible, for the
purchase of bonds in the
V.
7g
213
shs
2.305.150
See text
as a
1919 to
text
text
None
2493,
Class B
8 g
8
3,510,600
text
150,000 sh. See
10.000.000
$4
100
to comply with any conversion privilege that may be accorded In connection
with any debenture note issue which the directors may authorize."
V, 110,
of record
9.455.500
None 198.770
M
J
11.885,100 See text
7
15.223.500
500 &c
&
J
„
Bac*
Penn Seaboard Steel—Stock 350,000 shares
Three-year 8 F Conv Notes $2,000,000 auth red 101
P,
5 g
50
1920
M&N
740,000
50
Pan-Amer Petrol & Transport—Com stk $55,000,000
Class B non-voting com stock $70,000,000
First lien 10-yr marine equip conv bonds red 105
Panhandle Producing & Refining—Com stock 300,000 sh.
Pref (a <St d) cumul convertible (s.f) $4,000,000 call 110
Parish & Bingham Corp—Stock auth 150,000 shares
Peerless TrucK & Motor Corp—Cap stk auth $20,000,000--
J
5 g
6.293,000
1,254,000
10
G.kc*
5
$6,978,000
3.000.000
&c
200
100
Convertible eold notes callable at 102
BONDS
Bonds
Pacific Telep & Teleg (Concluded)—
aoiue Long Distance
Telephone Co 1st M assumed
Home
STOCKS AND
paid off April 1 1920
1705.
fc- There were also outstanding Dec. 31 1920 $2,537,302 purchase money
obligations secured by steamships and oil lands.
The first lien 10-year marine equipment bonds are a first mtge, on a fleet
of 10 steel tank steamships aggregating about 100,670 tons dead weight
capacity, providing marine transportation facilities for the Mexican Pe¬
troleum Co,, Ltd,, of Delaware,
Convertible into Class B common stock
at $145 per share—that is, at the rate of $2,900 of bonds for $1,000 of
Class B common stock (20 shares of $50 par value each), with provision for
a reduction of the conversion
price under certain conditions if additional
common stock or Class B common stock shall be issued at
prices lower than
$145 per share,
V, 111, p, 394,
Guarantees, prin. & int., $10,000,000 8% s. f. gold bonds of Mexican
Petroleum Co.
V. 112, p. 1622.
REPORT.—For
cal. year 1920: Profit from operations,
$8,835,535;
&c., $201,426: depreciation, $1,797,637; provision for
contingencies, $1,000,000; add company's proportion of
net profit of controlled companies
$7 151,281; net profit for year, $12,987,753; dividends (cash), $8,033,673; dividends (stock), $6,378,385; bal., def.,
$1,424,305; total surp lus Dec. 31 1920, $15,160,971.
V. 112, p. 1512, 1972.
interest, discount,
PATHE FRERES PHONOGRAPH CO.—(V. 112, p. 168, 265.)
PEERLESS
TRUCK
& MOTOR
CORPORATION.—ORGANIZA¬
TION.—Incorporated In Nov. 1915 In Va. and acquired 20,789 shares of
pref. and 20.855 shares of common (being entire stock except 213 of pref.)
of the Peerless Motor Car Co. of
Cleveland, O.
Authorized stock, ail one
class, $20,000,000 (par $50); outstanding, $10,000,000.
No bonds. Cleve¬
land interests in 1919 purchased control and moved the office to that city.
DIVIDENDS.—The directors
on
Oct. 2 1919 declared
an
initial dividend
of
1H% and also an extra dividend of ^ of 1 %, both payable Jan. 2 1920.
They also passed a resolution to the effect that in so far as the earnings per¬
mit the policy of
paying regular quarterly dividends of 1H % be established
with such extra dividends from time to time as conditions of the business
will permit.
V. 109, p. 1466.
In Apr 1920. paid 1^% and ^% extra.
July and Oct. 1920, 2^%.
In Jan. 1921 paid 1H%.
In Feb. 1921 de¬
clared 4%, payable In quar. installments of 1% each «n Mar. 31, June 30,
Sept. 30 and Dec. 31 1921.
V. 112, p. 659.
-
NOTES.—Authorized $5,000,000 10-year 6% gold notes dated Nov. 10
1915 and due Nov. 10 1925, convertible at holders
option Into capital stock
par after one year and subject to call on and after May 10 1917 at 102
and interest upon 60 days' notice in amounts of not less than $1,000,000
on any int. date; conversion
privilege continuing until 20 days before redemp¬
at
tion sale.
See offering, V. 102, p. 716.
Of the $5,000,000 6% notes of
1915, $2,694,850 have been reacquired and deposited with trustee, thus
a balance of $2,305,150 in hands of the public.
leaving
REPORT.—For calendar
1920, in V. 112, p. 1276, showed:
1920.
1919.
1918.
$14,919,065 $12,928,600a$l 1.890,079
Total Income
$1,452,500
$1,136,783
$1,074,989
Interest on convertible notes
149,807
166,018
229,112
Fed. exc. prof, tax & Income tax
(est.)
200,000
122,403
71,596
Dividends
(8M%)850,000
(2)200,000
year
Net sales
Bal., sur. (after miscel. charges)
$262,620
$670,627
$1,065,839
DIRECTORS.—Walter C. Baker, T. W. Freeh. George W. York, L. H,
Kittredge, Roland T. Meacham, G. B. Slddall, W. H. Staring, B. G.
Tremaine, H. A. Tremaine, F. S. Terry and Harrison Williams.
Pres.;,
is B.
G.
Tremaine.—(V. 112,
PENN
SEABOARD
p.
659, 1276.)
CORP.—ORGANIZATION.—Incorp.
STEEL
Dec
6 1915 In New York, as Penn. Marine & Ordnance
Castings Co.
Name changed to present title June 24 1916.
Merged Penn. Steel Castings
& Machine Co., Baldt Steel Oo. and Seaboard Steel Castings Co.
V. 102,
6aven, Conn.
1631. Plants located at Chester, Pa., New Castle, Del., and New
In Feb. 192t the stockholders authorized the
purchase of the entire
capital stock of the Tacony Steel Co. (V. 109, p. 484; V. 110, p. 667, 472,
367).
Including the plant of the latter
company,
the corporation will con¬
and sells
trol 14,000 tons monthly open-hearth capacity.
Manufactures
steel castings, ingots, billets, blooms, forgings and alloy bars.
Acquired control of Rockaway
112, p. 1289.
Rolling Mills Co.
in Mar. 1921.
V.
Federal taxes and
STOCK.—Auth. amount increased from 200,000 shares to 250,000 shares
(no par value) in Feb. 1920 and to 350,000 shares In Sept. 1920.
Out¬
standing, 183,177 shares; In treasury, 61,000 shares; reserved for conversion
of $2,000,000 7% notes, 50,000 shares.
The stock Ls held in a voting trust
DIRECTOR8.—E. L. Doheny. Herbert G. Wylie, R. J. Schweppe
J. C. Anderson, Chas. E. Harwood. J. M. Danziger, C. E. Doheny, ElLsha
Walker, E. R. Tinker Jr., Jacques Weinberger, E. C. Harwood, Norman
Bridge, E. L. Doheny Jr., Harold Walker, S. M. Spalding, O. D. Bennett.
Pres., E. L. Doheny, Los Angeles.
N. Y. office, 120 Broadway.—(V. 112,
p. 265. 1512, 1624, 1874, 1972.)
agreement
PANHANDLE
PRODUCING
&
REFINING
CO.—ORGANIZA¬
TION.—Incorp. in Delaware Oct. 16 1919 to acquire entire capital stock
of Panhandle Refining Co. of Texas, which in turn
acquired substantially
all the properties heretofore owned by Brown & Jones, Roy B. Jones.
Trustee, Tne 6666 Oil Co., The Trojan Oil Co. and Panhandle Boiler A
Machine Shop.
Owns leases covering about
1,000
acres in Wichita
County, Texas; also 81 acres in Cotton County, Okla.: also refinery, gaso¬
line
plant, pipe lines, &c,
acquired in 1920.
109 producing
V. 110,
wells
A six-sevenths interest In the Leon Oil Co,
p.
2392
was
As of Dec 31 1920 the company owned
expiring June 26 1921, the voting trustees being W. P. Barba,
Chas. Hart, J. B. Warren, H. F. Hansell Jr. and W. C. Sproul.
Slock
Purchase
Warrants.—The shareholders
in
Sept.
1920 authorized
the Issuance and sale of stock
purchase warrants covering the sale of 15,000
shares of stock of no par value, at $33 1-3 per share, at any time after Mar. 1
1921 and prior to the conversion,
redemption or maturity (by declaration
or otherwise) of the entire issue of the 3-Year
7% Sinking Fund Convertible
Gold
Notes
(V. 110, p. 665).
Each warrant will provide that the holder
30 shares of stock represented thereby either in
by surrender before maturity, of one of said notes at the face value
thereof (without adjustment for interest), together with all unmatured
Interest coupons thereto attached.
V. Ill, p. 1189thereof may pay for the
cash
or
NOTES.—The 3-yr. 7% notes are convertible as follows:
note into 25 shares of common stock until Feb. 1 1921, into 22
after until Feb. 1 1922, and Into 20 shares thereafter until
ing fund, &c., compare V. 110,
p.
665.
Each $1,000
shares there¬
maturity. Sink¬
Date
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
$100
J C Penney Co—Common authorized $5.000,000
Preferred (a & d) stock 7% cum call 105 auth $10,000,000
Pennsylvania Steel Co—See Bethlehem Steel
100
People's das Light Ac Coke (Chicago)—Stock (See text)—
First Consolidated mortgage for $10,000,000 gold—Ce.c*
Chicago Gas Light & Coke first mortgage gold
FP.c
Consumers* Gas first mtge gold (see V 66, p 472)
Ce.c
Refunding mortgage $40,000,000 gold
F.o*&r
Mutual Fuel Gas first mortgage assumed
General and Ref M gold (see text)
1C
1886
1897
1897
1913
closed gold gu p Ac i-Ce
1900
25
Preferred stock cumulative „;
100 Ac
100 Ate
1920
500 &c
1909
QP.xxxkc*
100H
Delaware Co El Co (sub co) 1st M closed s
DIVIDENDS (Per Share).—May 1
fd call 105—-C*
1.000
12.500,000
300.000
1916, $1 251 Aug. 1 1916 to
May1
1918, incl., $1 quarterly; Aug. 1 and Nov. 1 1918 and Feb. 1 1919, $1 50
each; none since.
V. 108, p. 2349.
Balance,
-.v.-..'
Gross
Net after
Dividends.
Surplus.
Calendar Years—
Sales.
Taxes, Ac.
1920
1919
'
—
—
—C—
—
df$768,248
157,492
$5,527,066 df$768,248
4,015,877
157,492
9,744,205
457,662
10,544,497
1,045,021
76,362
($5)$381,300
805,021
1917
($4)240,000
OFFICERS'.—W. P. Barba, Chairman; J. B. Warren, Pres.; George
Satterthwaite, V.-Pres., and C. F. Jemlson, Sec. & Treas.—(V. 112, p.
659. 1151, 1289, 1624.)
v
0
J. C. PENNEY CO.—ORGANIZATION.—Incorp.
in Utah, 1913.
Business started in 1902.
Operates 297 department stores in 25 States.
Since Its Inception has re-invested a substantial portion of Its earnings in
1918
....
-
...
Business on
the business.
cash basis.—V. 109, p. 483.
a
STOCK.—Pref. stock redeemable at
105.
Annual sinking fund 5% of
with an average minimum redemp¬
tion annually.
No bonds without the consent of 66 2-3 % of the Pref. stock.
See offering in V. 109, p. 483.
Initial dlv. of $0,816 per share for the portion
of the quarter from Aug. 19 to Sept. 30 1919 was paid Sept. 30; Mar. 31
1920 to March 31 1921, \%% quar.
total amount of Pref. stock outstanding
1921—April—1920.
1921—4 Mos.—1920.
$3,726,325
$2,854,609 $12,949,713
$8,496,612
Sales—
1916.
1919.
1918.
1917.
$28,783,965 $21,336,000 $14,880,000
Sales
Net profits
Reserve for Federal taxes
2,001,113
1,074.827
5,591
1,748,288
1,305,359
2,942,444
1,064,761
$8,415,000
847,822
72,917
Chairman, J. C. Penney; Pres., E. C. Sams; V.-P. Ac Compt., Geo. H.
Bushnell; V.-P. A: Gen. Mgr.. C. E. Dimmitt; V.-P., D. H. Mudd: Sec.,
L. A. Bahner; Treas., J. I. Herbert.—(V. 112, p. 67, 379, 855, 1151,1747.)
dividends
Preferred
8
36 663,300
1916
1916
mtg$60.000,00015% call 110from Oct l'21kxxc*&r*
$212,000 y'rly /4%call 105 from Oct 1 '21 kxxc*Acr*
$15,000,000 g call 101 till Feb 1921, then
sk fd
'Secured notes
6 g
1.671,700
1984.)
PENNSYLVANIA POWER & LIGHT CO.—(V. 112, p. 659,
PENNSYLVANIA STEEL
751.)
CO.—See Bethlehem Steel Corp. above.
PENNSYLVANIA WATER & POWER CO.—(V. 112, p. 558,
57.0.)
CentUn Tr
4 g
&
Ac
As
N May
As
N Y: As Chi
do
do
N May 1 1945
Illinois Tr Ac
S B. Ohio
Cent Union Tr Co,
1 1936
N Y
Farmers L As Tr Co. N
Y
Checks mailed
Apr 1*21,15* %
do
do
Apr 1*21.1»%
Apr 1*21.
1% Office 99 John St.
Checks mailed
June 15 '211%
Q—M
June 15 '21 2%
Q—M
Philadelphia
1 1966
A
Ac
O Oct
1 1966
do L .v7-"'v
A
Ac
O Oct
Q-J
Q-J
Q—J
F
Ac
A Feb
5 g
F
Ac
A Aug
Y
N
■
•
6g
Girard Tr Co, Phlla
1922
1 1939
1
Phiia Tr & Safe Dep
PHELPS, DODGE CORP.—ORGANIZATION.—Incorporated in
Aug. 10 1885 as the Copper Queen Consol. Mining Co. and
York
Co
New
from
April 1917 acted as the leading operating subsidiary of Phelps,
Dodge & Co. (a holding company.)
Incorporated in New York State on
Dec. 11 1908 per plan V. 87. n
1536: V. 88, p. 149; V. 89 p. 1545In
1917 the name was changed to Phelps, Dodge Corp., and the auth. stock
was increased from $2,000,000 to $50,000,000, of which $45,000,000 was
then applied to taking up share for share the $45,000,000 stock of the hold¬
ing corporation.
The subsidiaries whose properties were absorbed by
Phelps, Dodge Corp. In such reorganization, were as follows: Detroit
Copper Mining Co. of Arizona, Burro Mtn. Copper Co. and Stagg Canon
Fuel Co.
Other subsidiaries whose physical assets were not taken over,
but all of whose issued stock was acquired in such reorganization, are:
Moctezuma Copper Co.. $2,600,000 stock; Phelps Dodge Mercantile Co.,
$2,000,000 stocR; and Bunker Hill Mines Co., $750,000 stock.
Dec. 1908 to
DIVIDENDS.—Until Mar. 30 1917 of Phelps, Dodge
Ac Co. (holding co.)
.1909-11. '12. '13. *14. '15. '16. *17. *18.
10% yly 10
10
10
10
10
10 7^y
2% yly
5
6H
4
10 22H 14 10^
Account depletion.
g 4x
In 1921, Jan., 2^%; April, 1%.
Regular, %
Extra
%
*19. '20. '21
10 See
text
10
3H
2x
..
..
2% payable in 4H % Liberty bonds,
y Only three quarterly dividends,
2H% each, due to change in dividend period from Q.-M. 31 to Q.-J. 2.
—V. 108, p. 1170.
x
NOTES.—Guarantees $4,360,000 8%
V. 112,
Copper Output—
tion, Inc.
p.
notes of Copper Export
Associa¬
655.
1921—April—1920.
7,798,000
1,868,000
Pounds-
Note.—Operations were suspended April 1
REPORT.—For cal. year 1920, in
1921—4 Mos.—1920.
27,395,000
31.276,500
V. 112, p. 1350.
1921.
V. 112, p. 1611, showed:
1918.
1919.
1920.
.$35,930,178 $28,366,438 $59,483,208
$5,665,452
$8,121,781 $22,712,898
Depreciation, buildings and plants..
4,932,340
1,109,087
903,630
Total gross income
PENNSYLVANIA COAL & COKE CO.—(V. 112, p. 1747,
Chic
Sept 1 1947
Nov 1 1947
Dec 1 1963
M
7
See text
N Y
Cent Un Tr, NY; Ac
do
do
M
u
30,000,000
25
Cent Union Tr Co,
J
789,500 7 In 1920
353,000 7 In 1920
text
45.000.000 See
100
1H
Co.'s office, Chicago
M
I'
6.000,000
6,000,000
7,000,000
100
100
1st pref (a&d) 7% cum red 115 see text
2d pref 7% cum, $750,000 red (see text)
Phelps, Dodge Corporation.—Stock $50,000.000—
Phlladel phiaEiectr ic (of Pa.)—Stock full paid $25 per sh. (text)
*21
Mar 31
Where Interest ane
Dividends are Payable
Apr 1 1943
July 1 1937
Dec 11936
6 E
1.712,000
100
'
and Maturity
See text
20.554.000
4,945,000
1,000
1,000
1906
F
Ogden Gas first mortgage $6,000,000 guar prln & lnt
Pettlbone Mulliken Co—Common stock, $7,000,000
Q—M
38.500,000
4,900,000
9,929,000
4,246,000
1,000
1,000
1,000
1,000
1,000
1,000
1893
1887
Bonds Guaranteed—
Indiana Natural Gas & Oil Ref Mtge
$3,614,000
2,850,000
100
Co.
I Places
Dividend
Last
MISCELLANEOUS COMPANIES.
[For abbreviations, dkc., see notes on page 6.]
First
[VOL. 112.
INDUSTRIAL STOCKS AND BONDS
214
—
Net income.-
State and Government taxes
Dividends paid
5,863,585
-
(10%)4,500,000 (10)4500,000(24)10800000
def.3,766,888 defl,285,656
5,145,683
The total surplus Dec. 31 1920 was $120,027,173.
As to allied railway see El Paso Ac S. W. under "Railroads."
Balance, surplus for year
.
PEOPLE'S GAS LIGHT & COKE CO.. CHICAGO).—A consolidation
Aug. 2 1897 of the companies forming the old Chicago Gas Trust.
V. 64, p. 1088; V. 6,5, p. 235
.lp Feb. 1907 the Ogden Gas Co. and the
Universal Gas Co. were leased foirlabout 34 years, tbe Ogden Co's $6,000,000
bonds being guaranteed,
V. 84. p. 394; V. 78. p. 1785: V. 72, p. 244. 91:
V. 97, p. 1508; V. 108, p. 680; V. 104, p. 658, 2348.
During 1919 completed
the erection of a ten-million-foot gas holder, increasing the gas storage
on
capacity about 20%.
PROPERTY.—In
service
Dec.
31
1920:
Street mains,
3,122 miles;
703.763; public lamps, 5,857: arc lamps, 80,953.
The Illinois P. U. Commission on June 16 1920 fixed new rates,
meters.
effective
at once, as follows: For the first 400 cu. ft., $0.60; to 50,000 cu. ft., $1 15;
over 50.000 cu. ft., $1 00.
V. 108. p. 1170. 1394. 2129. 2533: V. 109. p.
179, 483; V. 110, p. 654, 1856, 2573; V. 112, p. 265.
The Chicago City
Council in April 1921 requested a 15% reduction in rates.
V. 112, p. 1874.
Valuation of property, V. 107. p. 297; V. 110, p. 654; V. Ill, p. 596.
2145.
Tax ruling, V. 107, p. 2482.
Refund suit, V. 110, p. 654. >
DIVS.
J'95. *96. '97-*05. '06. *07. *08. *09. T0-T2. *13. '14-T5. *16.
1917,
6
6H 7 y'ly 7Vi 8 y'ly
6H
3H
reduced from 2% quar. to lH% quar.
In May and August 1917 to 1%, and In Nov. 1917 entirely omitted to
provide funds for purposes of erecting coal gas plant (see above).
V. )0fi.
p. 1527; V. 104, p. 1596, 658.
Dividend outlook in April 1921, V. 112,
p. 1747, 1874, 2198.
Percentl2H 1H 6 y'ly
5
In May 1916 the dividend
6
was
BONDS, AfcC.—Of the $40,000,000 Issue of 1897, the $19,146,000 unissued
reserved to retire prior bonds.
V. 65, p. 572; V. 79, p. 155: V. 84,
p. 1556; V. 91. p. 792. 876;
V. 94, p. 702; V. 97, p. 954; V. 98, p. 842
Guarantees, p. & 1., Ind. Nat. Gas Ac Oil Ref.5s.
V.84. p. 388. 1430;
V. 88. p. i317, 1433; V. 104, p. 168; form, V. 87. p. 1302.
The stockholders on Nov. 14 1913 authorized a new General and Refunding
mtge. (unlimited In amount) to secure 50-year 5% bonds to provide for new
construction at not over 75% of cost, and to refund all old bonds. Acc.;
V. 97, p. 954, 1119, 1508, 1738; V. 98, p. 76.
Joint guaranty of Chicago By-Products Coke Co. bonds, V. 110, p. 873.
OFFICERS, Acc.—Pres., Walter Douglas; V.-Ps.,
Arthur Curtlss James; Sec. Ac Treas.. George
Directors.—Cleveland
REPORT.—For year ending Dec. 31 1920, in V. 112, p.
1920.
_
f
Net
earnings..
Interest
on
bonds.
Depreciation
1919.
739. shows:
1918.
1917.
$31,236,335 $24,543,798 $21,588,401 $19,338,638
$5,154,952
$4,290,442
$2,654,081
$3,471,900
2,364,321
2,366,150
2,366,150
2,375,150
2,409,879
1,859,085
1,654.559
1,461,951
PHILADELPHIA CO.—See Pittsburgh, In
_sur.$380,752 sur.$65,207def$l,366,629def.$365,201
None
None
None
™ORS—Samuel Insull, Jas. A. Patten, J.J. Mitchell, Stanley
i747
1874
2198S<)n'
°ffice* Chicago.—(V. 112, p. 265, 659, 739,
PETTI BONE
MULLIKEN
CO.—ORGANIZATION.—Incorporated
June 21 1912.
Has plant on 32 acres of land about 6 miles
Chicago.
Manufactures frogs, crossings, switches, guard
for steam railroads.
V. 94, p. 1511,
No bonds.
In New York
from
heart
rails.
Acc..
of
STOCK.—As to pref. stock provisions, see V. 94, p. 1511.
The second
pref. has no voting power and is subject to call at par after all the first pref.
shall have been retired.
V. 94, p. 1511.
First pref. originally $2,250,000;
canceled by sinking fund and in treasury Jan. 1 1921, $1,460,500; 2d pref.
stock, $750,000, of which $397,000 was in treasury Dec. 31 1920.
DIVIDENDS.—On 1st and 2d pref., l*A% quar., Oct. 1912 to Apr. 1921.
REPORT.—Report for caLvear 1920 in V. 112, p. 659. showed:
Net Inc.
1st Pref.Dtv. 2d Pref.Div.Dep.&sk.fd.Fed.Tax. Surplus
Year—
1920
1919
1918
$890,094
(7)$55,830 (7)$24,885 $316,937 $159,776 $332,666
283,077 (7)
65,126 (7) 26,586
91,643
25,814
73 908
928,393 (7)
70,000 (75 33,127
428.712
256:688 139:866
OFFICERS.—A. H. Mulliken, Pres.; O. H. Eib, E. N. Strom, V.-Pres.:
H. R. Prest, Sec.; A. H. Mulliken, Treas.—(V. 112, p. 659.)
"Electric Ry." Section.
In
In
Philadelphia and Chester; and all the large towns in Delaware
County.
The company's principal subsidiary Is the Delaware County
Electric Co. V. 73, p. 496, 680; V. 86, p. 977; V. 90, p. 1047; V. 99. p. 820;
V. 105, p. 1425; V. 104, p. 261. 367; V. 105, p. 1807.
Hie long lease of
conduit space from Keystone Telephone Co. at a graduated renta J rising to
$125,000 yearly, with option of purchase at end of lease. V. 104. p. 2558:
V. 100, p. 737.
Rates, V. 102, p. 1254; V. 106, p. 92, 612; V. 108, p. 586.
V. 105, p. 1527, 2004; V. 106, p. 1683.
The Delaware Station at Beach and
Palmer streets (on the Delaware River). Phila., now In course of construc¬
tion, is designed for 90.000 k. w.
The first section of this station has been
West
practically completed.)
This will make the geDeiating capacity of
the
entire system 320,982 k. w.
STOCK.—Authorized
$50,000,000.
The
final
of $2 50
Installment
share was called andjpaid Dec. 16 1916, making the $25 shares full
paid.
The Phila. Elec. Co. of N. J. (holding co.) was dissolved in Dec.
1917; Its $24,987,750 stock, except $16,925, has been exchanged for stock
of the Phlla. Elec. Co. of Pa., each $25 share for a new $25 share.
V. 105,
p. 1425,1622; V. 103, p. 326,1416; V. 104. p. 261, 367.)
,
^
Shareholders of record Nov. 30 1918 were given the privilege of subscrib¬
ing for $4,997,550 new stock authorized as a 20% stock allotment at par,
$25 per share.
Tne stockholders on Sept. 1 1920 authorized the issuance of $15,000,000
per
8% cumulative pref. stock, par $25. The stockholders of record Sept. 8 were
given the right to subscribe at par ($25) to $6,000,000 new 8% pref. stock
the extent of 20% of their holdings.
An additional $5,000,000 was
to
stockholders of record April 22 1921 in the ratio
The pref. slock will have equal voting rights
into common stock at par
time, red. at $28 at any dividend period.
offered at par to common
of 16 2-3% of holdings.
at any
common
stock, will be convertible
(3^)1.347,477
OFFICERS.—Samuel Insull, Chairman Ac Pres.; Chas. A. Munroe, V.-P.:
T. V. Purcell, Sec.; J. E. Dougherty, Treas.
75H
James, Mathew C»
PHILADELPHIA ELECTRIC CO.—ORGANIZATION.—Incorp.
Penna.
Owns or controls all electric-light properties of Phila.. also
with the
^Balance
Dividends
Cleveland H. Dodge,
Notman.
Dodge, Arthur Curtlss
Fleming, George B. Agnew, E. Hayward Ferry, Francis L. Hine, Walter
Douglas.
Wm. Church Osborn, George Notman.
N. Y. office, 99 John
St.—(V. 112, p. 168, 659, 1031, 1406. 1524, 1611.)
are
Gross Income
H.
f'02-'07. '08. 09' to '12 *13
'14 to June *21
\5 yrly. 5H
6 yrly
6H 7 yrly (1% quar.)
$1
$1.50
$1.50
DIVIDENDS—
On amounts
%
paid in
stk
Also extra paid in
Initial div.
on
new
pref. of 45 cents a share was paid Dec.
paid 2%.
V. Ill, p. 2049.
15 1920; on
Mar. 15 and June 15 1921
BONDS.—The 1st M. bonds of 1916 (see V. 104, p.
565) were to cover
stocks and
the entire property (and all after-acquired property except
securities) tnen embracing all the public electric light and power
plants in
Feb. 1918 $2,500,000 were pledged under secured
Note issue.
In June 1918, and again in Feb. 1919, an additional $1,500,000
1st M. 5s was sold, making $36,663,300 out.
V. 106, p. 2762; V. 108, p.586.
Reserved bonds can only be issued for 85% of tbe cash cost and fair value
of acquisitions, permanent additions, extensions. Ate., and then only when
the net earnings are 1H times the interest charges on all bonds Issued and
to be issued.
Sinking fund of $212,000 yearly plus accumulations.
In Jan. 1920 sold $12,500,000 2-year 6% Secured Gold Notes, dated
Feb. 1 1920 ($15,000,000 auth.) the proceeds to be used in part for tbe
retirement of the $7,500,000 notes due Feb. 1 1920, and the balance to
cover in part the construction costs of various extensions and additions
being made to the system.
Notes are callable as a whole or in amounts of
not less than $500,000 at 101 and int. prior to Feb. 1 1921, and on and after
Feb. 11921 at 100M and int.
Secured by pledge of $5,500,000 1st Mtge. 5s
of Phila. Elec. Co., together with the entire outstanding issue of $12,500,000
6% Mortgage bonds and all of the captial stock of the Delaware Co. El. Co.
Philadelphia.
In
MAY, 1921.]
INDUSTRIAL
.
MISCELLANEOUS COMPANIES.
[For abbreviations,
cfee.,
notes on page
see
STOCKS AND
Date
Par
Amount
Rate
When
Bonds
6.]
Value
Outstanding
%
Payable
Phillips-Jones Corp.—Common 100,000 shares
None
$100
None
£°,w Motor Car Corporation—Common
Pref (» 4d)
8% cum $10,000,000 a f call 125 convertible..
Pierce Oil Corporation—Common stock
($33.000,000)
Common stock Class B
non-voting $20,000,000
do
1910
100
1,000
1899
1912
1,000
1,000
1911
x
do
500
&c
1913
Montour RR red 105 begin 1924
Pitts & Cas Shan Ry, due
$10,000 yly, '19-'22
Pitts Coal Dock & Wh 1st M
guar a&d red, 102M
stock In treasury Dec.
REPORT.—For 1920 in V. 112, p. 1624:
Calendar Years—
1920.
1919.
Gross income, all cos...$20,043,335
100
Surplus.
p.
$283,202
$269,005
H. Johnson; Sec. & Asst. Treas./
Office, 1000 Chestnut St., Phila., Pa,
W.
and retail stores, shirts, underwear and
pajamas.
CAPITAL STOCK.—7% cumulative pref., auth. $4,000,000; outstand-
&®aJI?'500,000;
par $100; common, auth., 100,000 shares; outstanding,
no par value.
Pres., Isaac L. Phillips; V.-P., David F. Phillips; Sec. & Treas., A. S.
Phillips.
Office, 829 East 134th St., New York.—(V. 110, p. 1296.)
85.000 shares of
PHILLIPS PETROLEUM CO.—ORGANIZATION.—Incorp. in June
1917 in Delaware.
Owns 849 oil and gas wells.
Land owned and leased
amounts to 141,643
acres, located in
Kansas. Oklahoma. Texas,
Ken¬
tucky and Louisiana.
(See listing application to N. Y. Stock Exch.
V. Ill, p. 2299.)
CAPITALIZATION.—Authorized 1,000,000 shares, no par value, out¬
standing 660.000 shares.
The authorized amount of stock was increased
held.
shares
a
to
stock
1,000.000 shares.
distribution of
one
Stockholders of
share for each share
Stockholders
of record Apr. 30 1920 were given the right to sub¬
128,000 shares of stock at $26 25 a share.
V. 110, p. 1648.
The pref. stock was redeemed, Sept. 1 1919.
Report for 1920
in V. 112, p. 1151.
Pres., Frank Phillips, Bartlesville, Okla.—(V. 112,
p. 939, 1151, 1984.)
scribe
to
No bonds.
1
(THE) PIERCE-ARROW MOTOR CAR CO.—ORGANIZATION.—
r
Incorp. Dec. 2 1916 in N. Y. State
similar
V.
name.
Plant
Buffalo
at
as successor
covers
43
y
Ill, p. 1377.
of the original company of
Advance in prices,
acres.
STOCK.—Common stock, auth. and Issued, 250.000shares, no par value.
Sref. stock will receive cash equal to whatever is paid In any year in cash
ividends
the
stock
$5 per share.
Pref. stock so retired
on
common
over
otherwise redeemed will be converted into
called for payment Feb. 1 1917.
stock.
common
All the bonds
were
DIVIDENDS.—At rate of 8% per annum (2% Q.-J.) on pref. stock.
Jan. 2 1917 to Apr. 1 1921, incl.
On common Aug 1917 to May 1919, both
incl., $1 25 quar.; none since to May 1920.
V. 109, p. 78.
REPORT.—For cal. year 1920, in V. 112, p. 559, showed:
1920.
1919.
1918.
earns, after dep
$1,987,688
$3,161,122
$4,273,172
Calendar Years—
Net
Federal taxes
250,000
Balance
$1,737,688
216,886
184,659
800,000
Other income
Interest
Pref. dividends (8%)
Common
dividends.
600,000
$2,561,122
26,144
96,196
800,000
-
1917.
1,200,000
$4,791,274
1,161,802
$3,073,172
15,601
323,032
800,000
$3,629,472
11,858
42,582
800,000
($l)i)312,500($5)1562,500($2H)625000
Balance, surplus
$969,915
$1,378,570
Report for quarter ended Mar. 31 1921 in V. 112,
$403,241
p.
Clifton,
John
$2,173,748
2090.
OFFICERS.—Charles Clifton, Chairman; Col. Geo. W.
G. W. Graham, V.-Pres.; Geo. M. Graham, V.-Pres.; M. E.
E. C. Pearson, Sec.
Directors.—Charles
Mixter, Pres.«
Forbes, Treas.*
O.
Jay Jr., G. W. Mixter, Albert
Strauss, Joseph G. Dudley, William P. Phillips. Frederick Srauss.
C. J.
Schmidlapp, Walter P. Cooke.—(V. 112, p. 559, 2090.)
PIERCE OIL CORP.—ORGANIZATION.—Incorp. in Virginia June
23 1913. per plan V. 97, p. 303. 302; V. 95, p. 1279; V. 96, p. 495; V. 107.
903.
Owns directly, or through the entire capital stock of subsidiary
companies: (a) Five modern refineries at Fort Worth and Texas City, Tex.,
Sana Springs, Okla., Tampico and Vera Cruz. Mexico.
Total average
daily capacity 43,000 bbls. of crude oil.
(5) 129,000 acres of oil lands,
principally held under lease, partly owned In fee, in Okla., Tex., Ark., and
Tampico, Mex., including holdings in the Cushlng and Morris fields in
Okla.
(c) Three tank steamers, floating equipment and 1.690 tank cars,
(d) 1,150 central located main distributing stations.
(e) a 6-inch pipe line
owned in fee from Cushing field to Sands Spring refinery, 35 miles,
(f)
through Pierce Pipe Line Co. (entire stock owned), an 8-inch pipe line 100
miles in length from Healdton field. Okla.. to Fort Worth refinery.
p.
V. 101.
2077; V. 105, p. 2461; V. 106, p. 196; V. 107, p. 611.
obtained authority to operate in Texas, took title
properties of the Pierce-Fordyce Co.
V. 106, p. 196, 1905, 2014.
Suit brought by International & Great Northern RR., V. Ill, p. 1757.
In May 1918, naving
to the
pr
STOCK.—The stockholders on July 25 1919 voted that the maximum
stock be increased from an auth. $33,000,000, all common stock, par
value $25, to $68,000,000, divided into (a) $15,000,000 8% cum. con. pref.
cap.
$100; (b) $33,000,000 com. stock, par $25; (c) 20,000,000 Class B
common stock (non-voting), par $25.
\. 109, p. 179,277,483, 1185, 1279.
The entire $15,000,000 of 8% cum. conv. pref. stock was sold forthwith
for cash to bankers, who agreed to exchange said pref. stock for such of the
ten-year 6% conv. gold debentures of 1924 as might be deposited on or
before Sept. 22 1919.
The proceeds received from the sale were to be used
as follows: (a) to pay off on Jan.
1 1920 such of the convertible gold deben¬
tures of 1924 as might not be exchanged for pref. stock or converted into
com. stock; (6) to pay off on Dec. 31 1919 such of the 5-year 6% convertible
gold notes as might not be converted into common stock; and (c) for the
development of the corporation's property in the Ranger-Texas and other oil
fields, the liquidation of current bank loans and other corporate purposes.
The pref. stock is convertible at any Jme on or before Jan. 1 1923 into an
equal par amount of Class B com. stock, and Is redeemable at option of
company, all or part, from July 1 1922 to July 1 1949 at 115 and divs., but
if so called prior to Jan. 1 1923. may be converted up to that date; sinking
stock par
do
2%
text
See text
6
Apr25 '21 IH%
(Quar)
S'g
6 g
J
&
J Jan
1 1935
A
&
O Oct
1 1949
5 g
MAN May 15 1932
MAS July 1 1931
ie
A
O Apr
O Apr
&
5
A
&
5
J
&
do
Union Trust Co, Plttsb
Union Trust Co. Plttsb *h
do
do
ifnlon'Trust ~C
1 1923
■
of Plttsb
1923-38
J $40,000 yrly JaD
Feb
1 1963
Union Trus
Aug 1921-23
Apr 1 1938
Co of Pitts
Union Tr Co of Pitts
See text
Checks mailed
Junel \211 H% Checks mailed
beginning July 1 1922, not less each year than 3% of the issue (or
$450,000) to cancel same.
This stock has no voting power unless a year's
remain unpaid thereon.
The consent of a 66 2-3 interest is
necessary
to the making of a mortgage, &c.
The Class B common stock is in all respects of the same character and
has the same rights and is subject to the same conditions as the present
common stock, except that the Class B stock has no voting
power.
Of
the $20,000,000 auth., $15,000,000 is held for conversion of pref. stock and
the remaining $5,000,000 unissued.
DIVIDENDS.—On preferred stock, 2% quar.,
The directors, in
able in Com. stock
V.
Oct. 1919 to Apr. 1921.
May 1920 declared a stock div. on the Com. stock pay¬
as follows: 2X% on July 1 and 2)4% on Oct. 1 1920.
110, p. 2198.
REPORT.—For cal. year 1920. in
Total income
$6,857,189
Interest, &c
Depreciation & depletion.
600,965
1,351,406
Federal taxes
375,000
Inventory adjust'ts, &c__ 1,100,000
dividends .-.(8%) 1,200,000
5% Com. stock divia
1,144,381
Balance, surplus
1,085,437
V. 112, p. 1613
$6,704,825
$5,360,764
1,155,169
1,368,281
1,108,810
1,149,261
703,246
304,450
$4,109,043
1,370,400
933,445
195,709
(4)6bb~66o
ZZZZZl
IIIIII
2,15l"884
Pref.
2,894',488
.1,609",489
DIRECTORS (Pierce Oil Corp.)—H. Clay Pierce (Chairman & Pres.),
Clay Arthur Pierce (V.-Pres.), Eben Richards (V.-P.), B. L. Winched
(V.-P.), John L. Spear (Sec.). F. Lewisohn. Eugene W. Stetson, John
J. Watson, Jr.
N. Y. office, 2& Broad St.—(t. 112, p. 1524, 1613, 19840
PITTSBURGH
COAL
CO.
(OF
PENNA.)—ORGANIZATION.—
This company s stock was issued to the public in July 1917 in exchange for
che stock of the Pittsburgh Coal Co. of N. J. (holding company), per plan
In V. 102, p. 804,1166.
v. 105, p. 1527.
Compare full statement, V. 105.
D.
Montour RR..
1101.
On
coal.
Jan.
1
1921
see
owned
"Railroad Cos."
165,399 acres and leased 686 acres of unmined
Number of mines, 66.
Coal prices fixed by Government, see V. 105,
p. 825, 1808, 1903; V. 106, p. 1339; restrictions removed, V. 110, p.
Contract with U. S. Steel Corp., V. 105, p. 1003; V. 106, p. 1338.
STOCK.—The pref. stock is entitled:
1420.
(a) To cumulative dividends at
of 6% payable quarterly with interest at 5% on any accumulations;
(b) To participate equally with the common shares in any year in which
6%; (c) To share in a sinking fund effective from
Jan. 1 1916, based on the sale of mine-run coal, said fund to be applied,
as the directors may direct, as follows
(but subject to the resolution or
July 9 1917. V. 106, p. 1338, by which sufficient amounts of the issue shall
be retired from time to time to preserve the relation of value of unmined
coal to the amount of outstanding pref. stock taken at its call price of 110).
viz.: (a) for payment of debt, (b) additions, (c) retirement of preferred
shares by purchase (or call) at not exceeding 110 and dividends; (d) to pre¬
ferred payment of principal at 110 and dividends in case of liquidation;
(e) To the restriction that no indebtedness secured by mortgage or pledge,
of the greater part of the property shall be created without the consent at
a
meeting of at least 2-3 or the outstanding pref. shares.
Auth. pref.
stock was reduced from $40,006,000 to $35,000,000 through the retirement
of $5,000,000 treasury stock in March 1921.
Auth. com. stock, $40,000.rate
each stock has received
Pref. stock, $10,000,000, in $100 shares, sold by J. & W. Seligman & Co. and
associates at 107 and divs. V. 103, p. 2243; V. 104, D. 957, 2645. Pref. as
to assets and divs.
Sinking fund for purchase (or call at 125 and divs.) of
or
See
See text
dividends
1524. 1738, 1984.)
In Jan. 1920 from 400,000
record Feb. 2 1920 received
Apr 1 1921
fund
1917.
PHILLIPS-JONES CORP.—Incorp. in N. Y. Aug. 15 1919.
The
company is engaged in the business of manufacturing, producing,
adapting,
preparing, buying, selling and otherwise dealing in fabrics and textiles, and
manufacturing and selling at wholesale throughout the country to jobbers
**
Payable
are
31 19 20
1918.
$706,927
$611,530
Pres., Joseph B. McCall; V.-P.,
A. V. R. Coe; Treas., H. O. Lucas.
—(V. 112,
100
$16,279,239 $14,503,851 $12,160,769
5,375,196
5,244,064
4,628,209
2,455,553
2,563,271
2,605,026
2,595,815
2,437,359
2,200,394
1,932,110
1,749,192
1,749,189
Net, after taxes, &c
Fixed charges, &c
Dividends
Q-J
5*
.
com.
Dividends
F May 11921 1%
F
&
A
1,861,000
F
&
A
29,000
A
&
O
5.4
2,518,000
text
14.000,000 See
Q—J
10.500,000 7 in 1920
Q-M
-
Pittsburgh Steel—Common stock
Pref (a & d) 7% cum
$10,500,000 red 120 (V. 96, p. 65)-
Excluding $7,830,800
Places Where Interest and
Mayl '19, $1.25 Check mailed
35.000.000
642,000
5,089,000
550,000
3.331,500
917,361
961.000
100,000
1913
.
Montour RR
equipment trust Series A guar
Bonds of Subsidiary
Companies.
a
See text
Maturity
100
8
Q—J
15,000,000
Apr 1 1921 2%
100 a32,169,200 5 In 1920 Q—J 25 Apr25 *21 1 M% By check
Mon River Cons Coal Sc Coke 1st M
g s f (see text)_UPi.zc»
Midland Coal purchase 1st M $1,200,000
g red 102 **-UPixc
Debentures So.350,000 g auth redeemable
par
and
23,747,831 See text
25
w
of 1913
&
8
10,000,000
26
d
Equipment Trusts
Q
215
Last Dividend
250,000 shs
100
&d) 8tk 8% cum conv
C1 B com. 5 for $• 15mil call
.B,urKh Coal Co. (of Penn)—Com stock 6% and partic.
Participating pref stock 6% cum (also as to assets, s f call 110
1st M $1,500,000
g guar red 102 H s f
UPi.xc*
OIll
$85,000 sh
2,500,000
660,000 sh
None
Preferred 7% cumulative $4,000.000
Phillips Petroleum Co.—Stock
1,000,000 shares auth.
S5S"/
BONDS
000.
'
_
_
DIVIDENDS.—On pref.
stock of old Pitts. Coal Co. of N. J., 1900 to
1919. 5%
p. a. (1)4% quar.).
On Pittsburgh Coal Co. of Penn., pref. stock, April
1916 to July 1917. in all. 5H% (to Pitts. Coal Co. of N. J.); to Public in
July 1917 in settlement of accumulations, 3.48% cash with 33 1-3% of
pref. stock; Oct. 25 1917 to Apr. 25 1921, quarterly, 1X% cash.
In March 1918 an Initial dividend of $5 per share was declared on the
common stock, payable in four quarterly installments on Apr., July and
Oct. 25 1918 and Jan. 25 1919; April 1919 to Jan. 1921, IX% Quar.
Apr. 1905, 7% yrly.; *06 to '09, none; '10, 5%; '11 to Apr. 25
BONDS.—Pittsburgh Coal Co. of Penna. 1st 5s of 1910 are guar, by
Pittsburgh Coal Co. of N. J.
Sinking fund, 10c. per ton, not less than
$60,000 yearly.
V. 90, p. 1494.
■
First M. on Pitta. Coal Dock A Wharf Co. property at Duluth, Minn.,
_
,
_
$3,500,000. V. 94. p. 1052; V. 96. D. 861; V. 89. D. 1284.
Pittsburgh Coal Co. of Penn. (Midland Coal Co. purchase) 6i bay® •
minimum sink, fund of $50,000 yrly.
V. 95, p. 893.1043; V. 96, p. 861.
The Monongahela River Consol. O. & O. bonds have a sinking fund of
5c. per ton of 1 )$-inch. coal mined, and shipped, which retires bonds anouafly about Dec. 1 if purchasable at a reasonable price.
^
1920, in V. 112, p. 1301. 1514, showing:
1920.
1919.
1918.
REPORT.—For calendar year
Years—
Calendar
Gross receipts
_
„
Profits, after all expenses
Depletion coal lands, &c
Depreciation plant and equipment—
Interest
Net
168,009
038,128
$10,932,716
436,906
2,130,000
1,608,460
profits
excess
profits taxes
Preferred dividends (6%)
Common dividends (5%)
Undivided profits __
Total surplus
-
1,604,559
1,533,030
895,708
$4,559,716
1,128,276
2,160 000
1,608,460
$9,006,854
1,839,470
2,160,000
1,608,460
325,044
1b
paid and accrued
Income and
a
$48,596,589 $37,303,131 549,608,827
14,302,505
.8,090,897
13,040,151
(a) $6,757,350 def$337,020
$3,398,924
__(a)$30,369,828def$23485632 $23,822,652
Subject to Federal income taxes.
DIRECTORS.—M. H. Taylor (Chairman), W. K. Field (Pres.), R. B.
Mellon, A. K. Oliver, James Carstairs, E. M. Love, James H. Beal, John I.
Bishop, W. G. Warden, Andrew J. Miller, D. L. Gillespie. J. D. Lyon,
William Flinn, J. O. Dysart, F. J. Le Moyne (Sec.), 32 Fifth Ave., Pitts¬
burgh.
Treas. is William Miller.—(V. 112, p. 379, 1031, 1289,1514, 16214).
PITTSBURGH PLATE GLASS CO.—(V. Ill, p. 2145, 2235.)
PITTSBURGH STEEL CO.—ORGANIZATION.—Incorp. in Penna.
July 1 1901.
Owns works at Monessen and Glassport. &c., and coal mine
within 2 miles of Monessen works.
Manufactures pig iron, open-hearth
basic steel blooms, billets, bars, wire rods, wire, wire nails, wire fencing,
steel hoops, bands, cotton ties, &c.
In March 1919 purchased the Alicia Coal & Coke properties, consisting
of 660 acres of coal land and 400 rectangular coke ovens located at Alicia.
Fayette County, Pa., known as Alicia Mine No. 1, and 1,761 acres of coal
land in Greene County, Pa., known as Alicia Mine No. 2; also floating
equipment for river transportation.
The price was $3,750,000. of which
$1,000,000 was paid in cash.
The balance of $2,750,000 is payable in In-
216
-
MISCELLANEOUS COMPANIES.
IFor abbreviations, &c.t see notes on page 6.]
:/;•.
,■.
Date
Bonds
x iw>v
Gas
ijcu
cc
O*
1st
gen muge
When
Value
Outstanding
%
Payable
and Maturity
Q—F
May 21921, IX
1901
-oa.xxxc*
1921
$100
1,000
1.000
1,000
can
1921
100
500 &c
prairie Pipe Line Co—Stock
1915
kc*
—G
100
(see text)—
100
1898
1920
-
1,000
20
.
annum
100
100
1918
a period of five years
the deferred payments.
over
on
J
7 g
A
J
§ g
Dividends are
Payable
&
A
Aug 1 1951
J Jan
Checks mailed
NY.US Mort A Tr Go
Sec Sav & Tr, Port. Ore
1 1940
J Jan
A
F
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1 194U
Guaranty Tr Co. N Y
Mar 3 21 3 sc
National City Bank, N Y
N May 151931
31 Apr 30 '21 6% Chase Nat Bk. N Y
Q—J
Apr 30 1921 3%
June 8 '21
2% N Y"TrustC*o"NY
Q—M
do
do
June 1
21
IX
Q—F
Text
text
M
&
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32 in '20 Q—J
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8 in 1920
7
J
A
A
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7
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&
J Jan
O Oct
do
do
1948
1
'21-Oct
'30 New York Trust Co.
Q—F 15 May 14 '21 5% Co.'s Office, Cincinnati,0
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Q—M 15 June 15 '21 IX
M
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text
8 in 192
6
7 g
position as to raw materials was "notably improved."
STOCK.—May 2 LVL2 increased pref. stock from *7,000,000 to $10,500,000 at par for impts.
V. 94 p. 634, 1253, 1321.
No mtge. or add'ljpref.
•took without consent of VK of outstandifg pref,
V. 91, p. 1388, 1451.
The stockholders voted July 20 1920 to increase the Common stock from
$7,000,000 to $14,000,000. a stock dividend of 100% being declared.
DIVS.—
1911. 1912. "13.
14. "16. '16
'17.
'1*.
'19 to June'21
Common %
8
8
8
0
0
6 8&20ex 8&25ex. 2%qu.(Q-J)
Preferred %
7
7
7
3H
7 1014 7 yrly (7Q-F) l^qu.(Q-M)
On common also 100% in common stock in 1920.
REPORT.—Year 1919-20, in V. Ill, p. 1478.
June 30 Years—
1919-20.
1918-19.
1917-18.
1916-17.
Gross sales
$27,752,221 $31,265,012 $37,930,842 $33,066,083
xNet prof., after deprec. $1,961,459
$2,771,546
$4,556,443
$7,811,444
Pref. dividends (7%).735,000
735,000
735,000
735,000
Common dividends.... (8 %)560,000 (13)910,000(28) 1960,000(28) 1 ,960000
$5,116,444
$1,126,546
$1,861,443
income and profits taxes.
$666,459
After deducting reserve for
Nine Months to March, 31—
x
1921.
1920.
1919.
$20,154,531 $20,192,634 $26,028,203
*1,383,766
al,150,502
al,879,208
*
After writing down inventory to market price or cost, and other adjust¬
ments.
a After setting aside estimated income and excess profits taxes.
Chairman, John Bindley; Pres., Willis P. McCook; V.-P., D. P. Bennett;
V.-P., Emil Winter; Sec., Harry J. Miller; Clayton Snyder; Asst. Sec.,
Ray Maxwell.—V. 112, p. 855, 1874, 1984.
Sales
Net profits
POND CREEK COAL CO.—V. 111. p. 596. 2145,
2431.)
PORTLAND (ORE.) OAS & COKE CO.—Incorporated Jan. 10 1910
In Oregon.
V. 105. d. 1715; V. 99, p. 1678.
Gas output for 12 mos. ended
1920, 3,233,861,000 cu. ft.; 1,122 miles of mains.
Customers
See V. 93, p. 172; V. 97, p. 114, 527; V. 106. p. 1897.
STOCK.—Common, auth., $3,500,000; Issued, $3,000,000; all except
directors' shares owned by Am. Pow. & Lt. Co., which see.
Pref. autn.
$3,000,000; Issued, $2,799,600.
Divs. on pref. In full toMay 1 1921, incl.
31
Dec. 31 1920. 67,684.
tioMDS.—Ol
deposited
tnc
j>/50,uoo
Portland
Gas
(Jo.
6s of
1961,
$379,000
are
part security for "1st and Ref. M." bonds, leaving $371 ooO
The "1st and Ref. M." is for $15,000,000; outstanding
$6,409,000; reserved to retire Portland Gas Co. 5s. the only orior lien
$3#1,000; $800,000 have been deposited as security for the 1st lien & gen.
mtge. 7s.—V. 99, p. 1176.
as
outstanding
.
The 1st lien & gen. mtge. 7s are callable in blocks of not less than $250,000
107H and int. to Jan. 1 1924; at 105 and Int. to Jan. 1 1931, and at ^ of
1% less each year thereafter to maturity.
Secured by deposit of an equal
amount of 1st & ref. mtge. 5s of 1940 and (or) of cash.
Further secured by
a general mtge. on the entire property,—V, 112, p. 659.
at
REPORT.—For calendar years:
Gross.
Aef.
Cal.Year.
Int.,Ac, Pref. Die. (7%) BaL.Sur.
$2,185,367
$947,506
$351,625
$162,501
$433,380
1,797,461
795,307
351,747
143.358
300.202
For 12 mos. ending March 31 1921: Gross, $2,946,428; net, $964,596;
fixed charges, $385,931; balance, surplus, $578,665.
Pres., Guy W. Talbot; Sec. & Treas., Geo. F. Nevlns.—(V. 112, p. 659.)
1919
1918
PORTO RICAN-AMERICAN TOBACCO CO. OF NEW JERSEY.—
22 1899 in N. J. and manufactures
cigars and cigarettes.
Owns entire capital stock of the Porto RIcan-Amerlcan Tobacco Co. of
Porto Rico, which operates 14 factories in Porto Rico, and owns and controls
2,000 acres of farming lands in Porto Kico; also entire capital stock of the
Industrial Co., who operate a factory at Perth Amboy, N. J., and all the
capital stock of M. Alvarez & Co., who operate a factory at Tampa, Fla..
and one-half of the capital stock of the Porto Rlcan Lear Tobacco Co.
STOCK.—The stockholders on March 10 1921 approved an increase in
the authorized stock from $5,000,000 to $10,000,000. It is proposed to
redeem out of the new issue $1,342,754 scrip (Series 1 to 9) previously issued
in lieu of cash dividends.
This will increase the outstanding stock to $6,-
ORGANIZATION.—Incorp. Sept.
316,400.
'II. '12. '13. '14. *15. '16. *17. '18. '19. '20
16 __
..
4
16
8 __
..
DIVIDENDS.—
|n cash
r
1911
Extra.
was paid in 3-year 6% scrip, callable but without convertible
V. 107, p. 611, 1843.
In Sept. and Dec. 1919, owing to strike
(then ended), none.
V. 109, p. 780.
Mar. 1920 to Mar. 1921, 3% quar.
In scrip.
June 1921 div. was omitted.
V. 112, p. 2090.
The $1,342,754
scrip (Series 1 to 9) issued between June 1 1918 and Dec. 31 1920 was re¬
deemed in stock at par on and after March 31 1921.
V. 112, p. 1511.
BONDS.—The 10-year 8% gold bonds, due 1931, are redeemable as a
whole only at 107X on or before May 15 1926, and at 105 thereafter.
For
security, sinking fund, &c., compare V. 112, p. 2090.
REPORT.—For calendar year 1920:
Calendar Years—
income
1920.
$998,948
excess
tax
b
Dividends, cash
do
in scrip & stk—(12%)597,224
a
Net
sur or
income
1918.
1917.
$910,933
513,331
profits
■
Balance,
1919.
a$137,934
202,554
(8)290,620
(6%)~2~98~,612 (13")593"228
(8)290.620
def__sur.$401,724def.$160,678sur.$115.151
def.$69,909
for
1919 very small because of strike in
b Net income is after deducting taxes.
nearly 8 months,
Luis Toro, Pres.;
Arthur H. Noble, Sec.-Treas.
Fifth Ave.—V. 112, p. 568, 752, 1031, 1151, 1289, 2090-
N.
Porto Rico
Y.
office
for
250
POTOMAC ELEC. POWER CO.—See "El. Ry. Sec." (Wash. Ry.&El.)
PRA,RHB OIL & OAS CO.—ORGANIZATION. Ac.—Incorp. In Kansas
In 1900.
Formerly controlled by Standard Oil Co. of N. J.. but segregated
In January 1918 was given permit to operate In Texas, and
preparing to build a $10,000,000 refinery near Houston,
to be connected by 12 In. pipe line with the Gushing, Electra and Ranger
fields.
See Prairie Pipe Line Co. below.
In the Ranger district certain
oil producing properties of the Texas Coal & Oil Co. have been acauired
V. 106, p. 1582, 1691, 2014.
Stock auth., $20,000,000; out, $18,000,000; par, $100.
In
1911.
In
April
was
12
13
12
12
_
PRAIRIE PIPE LINE CO.—ORGANIZATION.—Incorporated in Kan¬
In Jan. 1915 and took over as of Feb. 1 1915 the pipe line of the Prairie
Fork, Ind.. to Griffith. Ind.. &c.. 860
miles, and will complete the 8-in. pipe line from Kansas City to a connection
sas
Oil & Gas Co., extending from Red
with
the Illinois
Pipe Line.
Proposed 12 In. pipe line to Houston, It
la
said, will have a delivery capacity of 40,000 bbls. daily and probably coat
over
$5,000,000.
V. 107, p. 1485.
See Prairie OH & Gas Co. above.
In Nov. 1920 it was stated that the company had commenced a $15,000,000
pipe-iine construction program, which will add 25,000 bbls. daily capacity
to its lines.—V. 111. p. 2145.
July 1917, 5%; Oct. 1917, Jan. 1918 and
Apr. 30, 5% reg. and 5% extra; July and Oct. 1918, 5%; Jan. 1919 to
April 1921 paid 3% quar.
Compare Ohio Oil Co. in V. 100, p. 145; V. 99, p. 1915; and decision, V.
98, p. 1997; V. 99, p. 53. 403.
Pres., W. F. Gates; V.-P., C. F. Kountze;
Treas., R. G. Hare; Sec., F. M. Wilhelm.—V. 112, p. 265, 1151.
^
PRESSED STEEL CAR CO.—ORGANIZATION.—Incorporated In New
on Jan. 13 1899 as a consolidation of the Schoen and Fox pressed
equipment companies.
The company has plants at Allegheny, Pa.,
and McKees Rock, Pa., with a capacity of 150 freight cars per day, and
Jersey
steel
have a capacity of 750 steam or street railway cars per
(1) Western Steel Car & Foundry Co. (V. 74, p. 991,!
458). which has plant at Hegewisch, III.,
near Chicago;
(2) Central Car Wheel Co. and Penn. Malleable Co.; (3)
a controlling interest in the Lincoln Gas Coal Co.;
(4) the entire capital
stock of Koppel Industrial Car & Equipment Co. which was formed to take
over
the business and properties of the
Orenstein-Arthur Koppel Co.
acquired in Sept. 1918 for $1,312,000.—V. 107, p. 1197; V. 108, p. 874.
The company it was stated in Jan. 1921, had formed a new subsidiary to
be known as Pressed Steel Pneumatic Wheel Co.
which will specialize in
the manufacture of special spring wheels for automobile trucks, known as
the Houston pneumatic wheels, rights for which were recently taken over
by the parent organization.
The Western Steel Car & Foundry Co. exercised the option to purchase
835, 729: V. 80. p. 169; V. 92. p
she
Hegewlsoh property of the Illinois Car & Foundry Co. on Deo.
30 1911
$1,100,000 .bondholders accepting the option to have their 1st M. 5%
50-yr. gold bonds, due Jan. 1 1948 (but redeemable on 6 months' notice and
convertible Into stock at par within 20 days after payment of any dividend)
assumed by the Western Steel Car A Foundry Co.
V. 95, p. 424; V. 94,
o. 70. 356; V. 84. p. 53. 806; V. 96. p. 551
The equipment notes of 1920 are due serially $110,000 A. & O. each year
from April 1 1921 to Oct. 1 1930 Inclusive.
Redeemable at 102)4 V. Ill,
(or
1285
D
'CAPITAL
STOCK.—The stockholders on Mar. 30 1921
approved the
recapitalization plan providing for an increase in the common stock from
$12,500,000 to $50,000,000 and the conversion of the $12,500,000 pref.
stock for common stock, share for share, and the declaration of a 20% stock
dividend on the common stock.
The directors in April 1921 deferred action
on the declaration of the 20% stock dividend and also on the proposal to
exchange preferred for common shares.
Compare V. 112, p. 1874, 1406.
DIVS.
Cora
f 01. '02. '03. *04.
4
4
5
3
.%\
Pref. —%
Paid
on
'05-'13. '14.
None
3
1915. '16. 17. 18. *19
None 2X 7 7)4
8
'20
'21.
8
text
per ann. (1 X% Q-F.) to June 1921.
common in 1921:Mar. 9, 2%; June 8, 2%.
1.7%
112, p. 740. showed:
Com. Div.
Balance,
Paul.
Earnings. Renew.,&c (7%)
$
$
$
(8)1,000 000
656,806
1920
3,194,278 662.472 875.000
(8)1,000,000 ,1.759,776
1919
5,338,6401703864 875.000
1918
4,818,893 868,107 875,000 (7^)968,750 2,107,036
(7)875.000
380,308
1917.——44.034.844 2,940,601 810,293 875,000
REPORT.—For year ending Dec. 31 1920, In V.
Calendar
Gross
Total Gross Repairs, Pf.Divs
Year—
Sales.
$
Not stated
Not stated
Not stated
OFFICERS.—F.
Surplus.
Hoffstot,
N
Pres.
N
8
Reeder.
V.-Pres..
N.
Y.;
J. B. Rider, V.-Pres., Pittsburgh; J. F. MacEnulty, V.-Pres., N. Y.; C. E.
Church, Sec. & Asst. Treas., N. Y.; H. E. Swartz of Pittsburgh, Treas.
DIRECTORS.—F.
3% dividend
feature.
Income and
None
6
0
0
V.96.P.1160 6
7 8 14
20text
In 1921; Jan., 3% and 3% extra; Apr. 3% and 3% extras.
Stockholders of record, Feb. 9 1916 received as 150% div. the $27,000,000
cap. stock of Prairie, Pipe Line Co.—which see below and V. 100. p. 403.
In Feb. 1918 $4,000,000 50-year deb. 6s, the remainder of an issue of
$18,000,000 put out in 1905, was reported as paid off.
V. 108, p. 788.
$14,000,000 naving been retired.
V. 95, p. 1126, 1212; V. 96, p. 494.
Balance sheet as of Dec. 31 1920 in V. 112, p. 2090.
Pres., James E. O'Neill; V.-P.. W. 8
Fitzpatrick; Sec., John Halllhan,
Office, Tulsa, Okla.—V. 112, p. 1151, 2090.
% 16
In 6% scrip or stock
20
20
20
15
10
8
13
6
12
In Feb. 1918 a stock div. of 4% was declared payable Mar. 7 In lieu of
the regular quarterly cash dlv.
From June 1918 to June 1919 the quarterly
Net
'21.
12 See
1914-15. 1916. *17. '18. '19. *20.
1913.
25
%(
—
passenger car shops
annum.
Also owns
PORT LOBOS PETROLEUM CORP.—(V. 109. p. 1279.)
Dec.
(1912.
%\
Since
1
1919 also acquired a substantial interest In a new Iron ore company,
known as Mesabi-Oliffs Iron Ore Co., from which it is confidently expected
a considerable tonnage of ore will be received.
By these acquisitions the
Balance, surplus
CASH DIV.—...
with interest at the rate of 5% per
Ib
.
ts-
Where Interest and
Not including $800,000 pledged.
stallments
.
3,000,000
18,000,000
27.000.000
12 500,000
12,500.000
1.250.000
2,090,000
20,521,167
2.250.000
9,866,000
10,000,000
100
0
(see text)
FdyM (see text)
Equipment notes due $110,000 s-an red 102X
N.xxxc*
Procter & Gamble—Common stock $24,000,000 auth
Pref stock (8°:? cum1 ^See terms in editorial. May '93 Snpp)
Pref (a & d) stock (6% cum) $45,750,000 auth call 110—
Ser g notes due $5,000,000 yrly Mar 1 '22 to '23 call—xxxx
X
7
800,000
See text
See
100
100
(no bonds)..
common
non-cum
d) 7%
$2,799,100
x6,409,000
371.000
o
Porto Rlcan-Anrerican Tobacco—Stock $10,000.000
10-year gold bonds redeemable (text)
—
Prairie Oil A Gas C» -Stock, $18,000,000
Preferred stock (a &
Western Steel Car &
Bate
in
M
Pressed Steel Car Co—Stock
Places
Dividend
Amount
r—
j,v.
Portland (Ore) Gas & Coke Co—Pf (a A d) stk 7% cum redll5
First A Ref M $15,000,000 call 110 aft 1919—xxxc'USm
Portland
Last
Par
i
112'-
[VOL-
INDUSTRIAL STOCKS AND BONDS
James A.
N.
Hoffstot,
p.
N. S. Reeder, O. Ledyard Blair.
W. Friend, J. B.
N. Y. office, 24 Broad St.—(V. 112,
Blair, New York; J. H. Beal, A. E. Braun, C.
Rider, J. R. McCune, Pittsburgh.
168, 477, 740, 752, 939, 1151, 1406,
1874.)
PROCTER & GAMBLE CO.—Formed In 1890 under laws of New Jersey
to carry on soap, candle, oils and glycerine business of firm of Procter A
Gamble.
Reincorporated in Ohio in 1905; V. 80, p. 655, 1916.
The
plants of the company and Its subsidiaries. In addition to 12 cotton-seed oil
mills in the Soutn, are located at Ivorydale, Ohio; Macon, Ga.; Kansas
City, Kans.; Port Ivory, Staten Island, N. Y.; Dallas, Tex., and Hamilton,
Ont.
V. 109, p. 986; V. 81, p. 1243, 1562; V. 83, p. 498; V. 90, p. 1047.
It was reported in Aug. 1920, that the company had purchased 54 acres of
land in San Francisco where it will build a plant at an estimated cost of
$3 000.000.
About 30% of the value of the company's output consists
of well-known soaps
(Ivory Soap, White Naptha, &c.) and the remaining
70% includes it & claimed, about 39% or the country's production or
bydrogenated lard substitutes ("Crisco," &c.) and about 40% of its glycer¬
ine.
See full data, V. 106, p. 1040.
Complaint V. 107, p. 2015.
July 28 1919 authorized an increase In
capital stock from $26,250,000 (made up of $2,250,000 8% Cumulative
common) to $72,000,000, the new stock to consist of
$45,750,000 6% cumulative pref. (par $100), of which $9,866,000 having
been underwritten was offered to common stockholders of Aug. 30 1919,
V. 109, p. 780
483.
.
.
.
_ .
4
The new pref. stock Is in effect a second preference Issue, ranking subse¬
quent to the 8% pref. and is to be callable at 110 and divs.
The holders
will not have the right to subscribe to new stock issues.
Neither issue of pref.
stock shall be increased nor shall any additional stock be authorized to be
Issued with rights equal with or prior to the rights of the 6% pref. stock.
This stock will be Issued over a period of years and in such amounts .as
STOCK.—The stockholders on
the
Pref. and $24,000,000
.
,
conditions may warrant
t
_
and the business may require, and all stock
solto
MAT, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES.
[For abbreviations, &c.t see notes on page 6.]
Date
do
do
series D
do
—
Punta Aiexre Sugar Co—Stock $12.000.000
Pure Oil Co—Common stock $100,000,000
Amount
Rate
Value
Outstanding
%
1921
7X
1920
1919
100
1920
100 &c
100 &c
-
common
8.000.000
7 g
J
&
1.000
100 Ac
1.301,000
J
1898
A
1910
&
1,000
1,388,000
J
M
stock.
Y. 108,
—
Stk div
on com
758,932
(4%)
Blance,
surp.__de/*l ,096,783
Pres., Wm. Cooper Procter.
PRODUCERS
568,1624.
&
1 80,000
3,794,660
(20%)
758.932
(20%)
180,000
CORPORATION—(V.
On
common
On
%
pref., 1X%
quar.
1913.
1914.
1915. Nov. 1916 to
4
4*
5
5X
7% p. a.
Feb. 1912 to May 1921,
BONDS.—The Firsts Ref. 5s of 1911
REGULAR CASH DIVS.l *77-'80. *81-'83.
'84-'98. '99. '00 to May '21.
Since 1877 (%)._
J 8 y'ly. 9 X y'ly. 8 y'ly. 6 X
8 yearlj (Q-F).
Also In 1898 and 1906 and to stockholders
of record April 30 1910 (la«i
20%l extra dividends to distribute surplus
assets.
V. 67, p. 75, 789, 840.
_
REPORT.—For year ending July 31 1920 in V.
Ill, p. 1274 showed:
Years Ending July 31—
1919-20.
1918-19.
1917-18.
Earn, of
cars 5 mos. end Dec.
31 T7._
♦Federal compensation
$11,750,000
Returns from mfg.
Gross
earns, pd. to oth. int.
(5 m)
xDepreciation in general
(8%)
Balance,
only
on
deposit of
a
proportionate
102X and int. on or before Sept. 1 1927 thereafter at 102 and int. on or
before Sept. 1 1928, thereafter at 101X and int. on or before
Sept. 1 1929,
and thereafter at 100 and int.
Collaterally secured
by pledge with trustee
of $166 2-3 par value of the company's First &
Refunding Mortgage 5%
Gold Bonds for each $100 par value of notes issued, the bonds thus
being
Additional notes may be issued only upon pledge of said
bonds in like ratio.
V. Ill, p. 1377.
REPORT.—For year 1920:
pledged at 60.
Calendar Years—
Total
income
Net earnings
Interest charges
Preferred dividends (6%l).
Common dividends (7%)
Amortization and depreciation___
Balance, surplus
1920.
$11,649,941
3,707,831
1,911,394
464,770
781,139
430,660
119,867
„
1919.
$9,325,913
3,679,574
1,902,706
455,280
781,191
430,660
109,737
„
1918.
$9,218,884
3,632,970
1,784,796
455,208
837,632
438,234
116,998
3,216,700
_
—$14,519,777 $15,439,936 $33,358,179
$1,606,268
$2,709,879 $17,348,081
9,599.800
9,599.792
Cr. 18,639
2,607,891
9,599,792
$3,130,265
T<L802414
_
Federal compensation for seven
months ended Dec. 31 1917.
The provision for
depreciation during Federal control accrues under
the contract with the
Director-General of Railroads and hence does not
appear in the income account.
^
DIRECTORS.—Robert T. Lincoln,Chairman; John S.
Runnells, Pres.,
J. P. Morgan, W. Seward
Webb, John J. Mitchell, Chauncey Keep,
George
F. Baker, John A.
Spoor, Harold S. Vandervilt, N. Y.
Secretary is J. F.
Kane.
General offices,
Chicago. 111.—(V. 112,
67, 477, 1747.)
p.
PUNTA ALEQRE SUQAR
CO.—ORGANIZATION.—Incorp. In Dela¬
ware on Aug. 3 1915.
Owns all the etock ($550,000) of the
Florida Sugar
Co. and the entire $900 000 stock
Issued by the Trinidad Sugar Co.
The
company's plant at Punta Alegre consists of a
sugar mill with other build¬
ings having a normal
apacity of 450,000 bags of sugar per annum.
The
Florida Mill, in Cuba, has an
annual capacity of 300,000
bags, while at
Trinidad the mill capacity Is
125,000 bags.
and if mortgage liens exist thereon at thf
further amount of said bonds.
The $1,000,000 series A notes are redeemable all or
part at 105 and
int. on or before Sept. 1 1923, thereafter at 104 and int. on or before
Sept. 1
1925, thereafter at 103 and Int. on or before Sept.
1 1926, therafter at
surplus.
*
also be Issued
V. 93, p. 1607: V. 94.
p.
NOTES.—The $2,500,000 series "O" notes and the
$1,750,000 series "D*
notes are secured by pledge of First & Ref.
Mtg®. 5s at 76 and are callable,
all or part, at 100X and int. during first 30 months, and thereafter at
100
and int.
Additional notes may be issued
$23,287,252
*6,854,167
3.689.936
x
(not limited as to amount) cover
bentures are redeemable, all or part, at 110 and int. on or before
Sept. 1
1922, thereafter at the principal amount thereof and int., plus a premium
of X % lor each full year of unexpired life.
V. 112, p. 939.
$11,750,000
2,769.777
$3,313,709
Dividends
May 1921.
bonds, dated not later than Jure 1 1922 and callable at 110 and int.
during
ths first 20 years, at 107M and int. during the next 5
years, at 105 and int.
during the next 4 years, and at par and int. during the last year.
The de¬
expenses & taxes
Net
(154 Q.-E.)
to the par amount of snob
1190.1321: V. 102. p. 1254
Outstanding Bonds Assumed on Properties Purchased (Pledged V. 102.
p. 1264)
[Excluding amounts deposited under First & Ref. Mtge. V. 107, p. 2381.1
Bonds—
Interest.
Outstanding.
Maturity.
LaGrangeWat..Lt.&P.Oo. lstM_-_5 g J A D
$171,000
Dec. 1 1921
North
Shore
Elec.
1st call
105f6gA&0
1,864.000
Oct. 11922
lst&Ref M.call 107Haft. Apr.'20!5 g A A O
1,676.500
Apr. 1 194«
[Interest at Illinois Tr. A Sav. Bk., Ohi
Economy Light & Power IstM. s. f_5 g J A D
1,364,000
Dec. 1 1956
Kankakee Gas & Elec. 1st Aref. M.5
g M <k 8
209.400
Sept. 11930
Citizens' Gas Co.(Kank.) call 105--6
g F A A
121,500
Feb. 1 1965
Pontiac Light A Water Co 1st M 5a_
72,000
July 11927
Northwestern Gas Light A Cokef5gQ-M
1.747,000
Doc. 11928
Oonsol. M. $2,000,000 g
(Interest at Central Trust Co., Chicago
Cicero Gas 1st M
6Q-J
500,000
July 1 1922
do
Ref. A Gen. M.
$5,000,-/5 g J A J
3,365.000
July 1 1932
000 g gu_
I Int. at Central Trust Co., Chicago.
As to $5,000,000 serial debentures Issued In
1917 by Public Service Ge. at
Northern Illinois, see V. 104, p 458.
The $2,000,000 7X% convertible
gold debentures due Mar. 1 1936 are
convertible on and after June 1 1922,
par for par, into 30-year 7% gold
tame.
interest^ &c.__
income
Operating
Additional bonds may be issued as follows:
A sufficient amount to
retire the outstanding $11,160,500
underlying bonds and for 75% of the ear
liens to refund
_
_
902: V. 83. p. 1174. 1233: V. 90. p. 451. 500.
854.
168.
"after-acquired properties." and are a first mtge. on all property
formerly
belonging to Illinois Valley Gas A Klec. Co. and Chicago Sub. Lt. A Power
Co., and are also secured by deposit of $2,114,500 North Shore Elec. Oc
"First and Ref." 5s and $401,000 1st M.
5s, $428,000 Economy Light A
Power Co. 1st M. 5s and $408,000 Kan
Gas & Elec. Co. "First and Ref." 5#
$97,500 Citizens' Gas Oe. 1st M. 5s and $17,000 other underlying bonds.
of property hereafter
acquired,
time of acquisition, bonds may
sleeping
rates were
put In effect by the Federal authorities.
V. 106, p. 2305,
2349, 2457; V. 107, p. 86, 2015, 2103, 2194: V.
108, p. 1572: V. Ill, p. 300,
Compensation claim, V. Ill, p. 395.
Govt, control
terminated
Mar. 1 1920.
Details of property account, V.
Ill, p. 1377.
Rates, V. Ill,
p. 2332.
Suburban Light. A Power Co. (V. 92. p. 191) and Kankakee Gas A
Electric
Co. (V. 91, p. 875, 1577).
In 1913 voted to purchase the Northwestern
Gas Light & Coke Co.
V. 96. p. 654, 793.
Gas rates. V. 107, p. 1389
Supplies electricity, gas, heat and water In 15 counties in the northeastern
part of the State of Illinois surrounding Chicago.
1912.
p.
PULLMAN CO.—On Jan. 1 1900 the
Wagner Palace Car Co.
to the Pullman
Company, representatives of the Vander-
its assets
596.
PUBLIC SERVICE CO. OF NORTHERN ILLINOIS.—ORGANIZATION.—Incorporated in Illinois in Aug. 1911 as a consolidation of electric
light and power companies in Northern Illinois outside of Chicago, controlled
by Samuel Insull (President of Commonwealth Edison Co.) and associates,
per plan V. 93. p. 231. viz.: North Shore Electric Co. (V.
92. p. 192; V. 91,
p. 1508, 1516). Economy Light A Power Co. (V. 93, p. 39; v. 99.
p
613)
Illinois Valley Gas A Electric Co. (V. W3. p. 167: V.
91. p. 41). Chicago
DIVIDENDS.—
Chicago
tee.
car
561,495
112, p.
and
Equitable Trust Co. N Y
1st Nat Bk,
Spring?, O
N Y. Harris, Forbes
&Oe
The taking over of the Pullman service
for operation by the
Government
ordered on Julv 3 1918, effective as of
Jan. 1 1918: in Aug. 1919 the
U. S. RR. Administration contracted
to pay as rental
$11,750,000 pet
annum.
V. 109, p. 893.
Several wage Increases and an increase In
$2,591,940
$6,036,171
$3,507,522
Office, Cincinnati.—(V. 112, p. 855.)
REFINERS
Boston
1614.
p.
(20l%)
583.939
1932
Jan 1 1926
S Marl 1930
no
A
Central Trust
Co,"6hlc
Central Union Tr, N Y
was
2,807,477
(20%)
Chicago
$1H
V 69. p. 854: V 70. p.
40.
In 1908
began building steel care.
V. 84. p. 697; V.
87.p. 1163; V. 90, p. 506; V. 97.
669
V 90. p. 1617, 1682: V
91. P 157 2#) 1332, 151771777: V. 99.
p. 193, 265.
Tax case, V. 108,
p. 885.
In October 1919 undertook to
build some 4,000 automobile bodies for the
Packard Motor Car Co.
V. 109,
180,000
2,919,694
.
NY,
July 1
&
Ob-
do
2 w,
Apr 1 21, IX
Apr 1 1921 l X
Apr l 1921 2%
D June 1 '22 to '25 New
York
d"D"
Bk.
do
1 1923
15 '21
text
do
Sav
p
Ill, p. 787.)
1918-19.
1917-18.
1916-17.
$193,392,04* $176,920,519 $128,549,649
7,325.532
9,719,804
7,056,494
623.890
3,905,018
on com...
on common.
See
do
Tr &
Chicago
Chicago
Chicago
bips entering the board of
directors.
EARNINGS.—For year ending June 30 1920 (V.
dividends
111
1 1922
1 1936
Chicago.—(V. 112,
'THE)
•old
serial gold notes dated March 1 1918
aresubj. to.call in re¬
X, 101 and 100H, respec¬
tively, for notes having severally 4 years. 3 years, 2 years, 1 year (and a
fraction of a year in either case) and less than one
year to run.
v. 106,
p. 1040. 1132
Rate
Apr
Payable
Checks mailed,
855, 940.)
16
NOTES.—The $25,000,000 7%
Pref.
an
18
are
Directors
mature $5,000,000 yearly,
beginning Mar. 11919, but
verse order of maturity date* at
103, 102, 101
Cash div.
5 g
'O"
'21
Where Interest and
Dividends
(and officers): Samuel Insull, Pres.; Frank J.
Baker, Charles A*
Munroe, John H. Gulick, V.-Pres'ts; Henry A.
Blair, Louis A. FergusonWm. A. Fox, John F. Gilchrist
(Asst. to Pres.), Frank G.
Logan, John L«
Norton, Solomon A. Smith, Edward P. Russell, Martin J.
Insull. George R.
Jones is Sec. & Treas.
Office, 72 West Adams St.,
'16. *17. '18. *19 '20
'21.
16
18
20
20
20 20
See
4
444
44
44 text
•Also extra dividend of 14 2-7%, paid Jan. 2 1904. and
25% Dec. 1900
V. 95. p
1334 V 90. p. 1776.
Paid in 1921: Feb. 15. 5%; May 14,
5%.
June 30 Years—
1919-20.
Volume of business.$188,800.668
Net af. res.,dep., &c
4.191.057
400.000
2
2 '21
1 1956
May 16'21
1892
'13. '14. '15.
*12yly 16
0—F
8
109, p. 1993.
01-'12
20 yly.
Feb
t*
Places
Maturity
Sept 1 1930
Sept 1 1922
See text
See text
100
100
The stockholders voted Dec. 22 1919
to change
the par value of the
stock from $100 to $20, issuing in exchange for each share of
$100
now outstanding five shares each of thei
par value of $20.
The total amount
of authorized com. stock, $24,000,000, was not affected. V.
DIVIDENDS, f'98- 00.
&
A
1,000
common
On common.....!
Also stk. pd. Aug.!
8 g
6 g
6 g
collator alsecu rlty for th eSeries "A'
as
be Issued will be offered first to the holders of the
p. 2636; V. 109, p. 483. 780, 986.
1,000.000
2.500.000
1,750,000
&c
Q—J
15
Q—M
Q—J
Q—-J
Q—J
...
First A Refunding bonds deposited
and
1920
**4% cum $10,800,000
Preferred 6% cumulative, reserved for exchange (see
text)
Convertible pref cum 8% (see text) $10,000,000 auth
Conv serial notes due $2.(300,000 aim red text
G.xxxc*
bond- t)i Controlled
Companies—
Columbus Oaa Co 1st M redeemable 110....
Ce.zc*
Springfield Gas Co 1st M
Dayton Gas Co 1st M (V 90. p 702) g call 105
C1C1
Excluding
Last Dividend
g
100 1 ">0.000.ooo
8
50
11.637,150 See text
25
49,392,000 See text
100
9,002,100
__
Pref atook
x
When
Payable
217
$100 $12,063,500 7 In 1920
Q—F
May
8 332,300 6 in 1920
100
Q—F
May
1.000 X18.926 000
A
&
O Oct
100&C
1 000.000
6 g
A
Mar
100 &c
2,000.000
&
Mar
1911
1917
xxxc*
-
Par
Bonds
Public Service Co. of Nor IU—Common stock $15,000.000—
Preferred stock 6% cumulative
$10,000,000 auth red 120-_
1st & Ref M g red 110 beg Oct'21
ICjco*
Serial deb g due $1,000,000 ann call on
5% basls__IC.c*
Convertible gold debentures red
(text)
xxxc*
Ten-year collat. notes series A call, (see text)
xxxICc*
Three-year collat notes series C call see text
xxxIC.c*
Underlying bonds—see text
Pullman Company —.-stock si20.nnn.ooo
STOCKS AND BONDS
STOCK,
&c.—Common
authorized, $12,000,000
from $8,000,000 In
May 1919.
(par
$50), increased
DIVIDENDS.—The directors In Sept. 1919 reserved for the
payment of
dividends upon the Common stock
during the year beginning Oct. 1 1919
a sum
sufficient to provide for the
payment of dividends at the rate of 10%
($5 per share) per annum;
2X%, accordingly, was paid Oct. 15 1919.
and Jan., April and
July 15 1920.
Oct. 15 1920 and Jan. 15 1921
($2
per
share); April 15 1921 paid 2X% ($1.25
paid 4%
per
share).
BONDS.—The company had
outstanding In
1919 $1,494,500
1st
M. 6% conv. bonds and
$2,993,800 coll. trust 6% conv. bonds.
All these
bonds were called for
payment on Jan. 1 1920.
_
REPORT.—For
year ended
Years ending May 31—
Output of estates, bags
Operating profits
Interest
on
1919-20.
bonds and loans
Depreciation
on
May 31 1920 in V. Ill,
plant
General expenses
(&c.), net
Est. U.S.& Cuban inc. &
war
->l
623,620
$8,900,658
490,007
750,393
178,773
prof, tax
853,019
p.
1470, showed:
1918-19.
1917-18.
605,150
$3,017,622
602,063
522,692
92,434
226,913
442,746
$1,822,979
_______-
Available profit for
year
$6,628,466
486,141
381,694
Cr.2,431
193,600
__________
$1,573,519
$763,975
Pres., Edwin F. Atkins; Treas., Robert W.
Atkins; Sec., John E. Thayer,
p. 1524.)
PURE OIL
CO.—ORGANIZATION.—Incorp. in Ohio April 1914, per
plan V. 98, p. 1463, 1849; V. 100,
p. 1746: V. 103, p. 2434, as the Ohio
Cities Gas Co.; name
changed to present title in June 1920.
Owns the
following subsidiary companies, the
percentages representing the Pure Oil
Company's holdings: 99.77% of the Columbus Gas & Fuel Co., 100%
of the Federal Gas & Fuel
Co., 100% of the Springfield Gas Co., 99.61%
of the
Dayton Gas Co., 100% of the Mountain States Gas Co.; these com¬
panies deliver natural gas to 115,000 consumers.
100% of the Pure Oil
Pipe Line Co. (Ohio), 100% of the Pure Oil
Pipe Line Co. (Pennsylvania),
100% of the Producers & Refiners Pipe Line Co., owning 2,300! miles of
pipe line connected to 9,600 wells and
operated by 89 pump stations.
52.41% of the U. S.
Pipe Line Co., 100% of the Moore Oil Refining Co.,
compounders of oil and manufacturers of
grease and soap, owning three
distributing stations and 15 drive-in stations in Ohio and Indiana.
In
1921 acquired and
merged with the Pure Oil Co. of Minnesota.
V. 112,
Jr.—(V. 112,
p.
1624.
A substantial interest in the
Oklahoma Producing A Refining Corp. and
the Union des Petroles d'Oklahoma
was
purchased in Jan.
1920.
This
company in addition to its oil acreage operates a
completely equipped refin¬
ery in
Muskogee. Okla.,
as
well
distributing
as
pipe lines, casinghead gasoline plants and
stations in Oklahoma.
owns and
operates oil and gas properties as follows: Nearly a million
of leaseholds and fee land in
Ohio, West
Also
acres
La.. Tex. and New
Mex., of
sisting of over 3,000 producing
W. Va. and Okla.; a salt
plant
of salt per day; 6 refineries n
Va., Ky., 111., Kan., Okla.,
which 63,000 acres are operated leases con¬
oil wells; 7 casinghead gasoline plants in Ohio,
in W. Va., having a capacity of 1,000 bbls.
Penn., Ohio, W. Va. and Okla., whose total
MISCELLANEOUS
Par
Amount
Rate
When
Value
Outstanding
%
Payable
$100 $11,250,000 See text
6
100
18.000,000
Quaker Oats—Common stock 125.000.000
Preferred
(a A d) stock 6%
cumulative $25,000.000
New
Radio Corp of Am—Common stock 7,500,000 shares no par.
Pref stock 7% cum beginning in 1923 $25,000,000
Railway Steel-Spring Co—Common $13,50<>.0<hj
Preferred (a A d) 7% cumulative $13,500.000-.^-..
Rand Mines, Ltd—See text
K«y
the
STOCK.—Common stockholders of record Feb. 15 1919 were given
portion offered to stockholders at par in Feb
1921.) Convertible into
com. stock between July 1 1920 and July 1 1923 at the rate of two shares
of com, (par $25) for one share of pref. ($100).
NOTES.—The $10,000,000 7% Serial Notes of June 1 1920 are converti¬
stock ($25 par) for each $1,000 notes at $45
ble into 25 shares of common
conversion price increasing
with a cash adjustment of
difference between the conversion price and $40
accrued interest on the notes.
Redeemable at 102%
per share, and of
and int. for notes
the
the redemption price being reduced % %
Proceeds were used to reimburse
for expenditures made in connection with the purchase of a large
maturing in four years or more,
part, less than four years.
each year, or
company
interest in
the Oklahoma Producing & Refining Corp.,
July 1 1920 $1,250,000 6%
1921.
V. 110, p. 2296.
DIVIDENDS.— (%)
[1914.
ommon
Common cash
——{
—\
do
m stock—--— I
In
and to retire
on
Serial Notes maturing July 1 1920 and Jan. 1.
'
1915.
1916.
'17.
'18.
'19.
6%
8%
19%
20
17
3H
5
-—
—
'20.
12
4
5
_
Sept. and Dec. 1920 and March and June 1921 paid 4%,
in common stock.
V. 112, p. 477, 568.
'21.
See
text
2% of which
in cash and 2%
was
REPORT.—For year ending March 31
1920-21.
1919-20.
1920-21.
—
'21
1%
$1,701,202
525,000
7,334,164
2,589,434
R. W. Mcllvain, W. E. Hutton, N. H.
and G. C. Scott; Sec. & Treas., F. S.
Office, Columbus, Ohio.—(V. 112, p. 477, 568, 855, 1151, 1624,
1874.)
Checks mailed
do
'21 1 %
texi Mar
See
7
Q-
31 '2l
'21
Mar 31
M
2% Bankers
do
1%
Tr
Y
Dec 31 *20 25c.
Telegraph Co. of America (except Its manufacturing plant, which was sold
to the General Electric Co.), its claims against U. S. Government and
claims against individuals on infringements account.
V.-109.P. 1704.
The plan was ratified by the stockholders of the Marconi Wireless Telegraph
Co. of America on Nov. 20 1919 and the latter company was dissolved.
The Corporation offers radio communication between the United States
and France, England, Germany, Norway, Denmark, Sweden, Finland and
Poland, as well as between San Francisco and Honolulu and Japan.
Radio
circuits to South American countries and other lands are being prepared,
the company announced in Jan. 1921.
The American Tel. A Tel. Co., in order to better carry out the purposes
of an agreement with the General Electric Co. to co-operate in advancing
the art of radio transmission and communication, in Aug. 1920 purchased a
minority interest in the Radio Corporation of America.- V. Ill, p. 902.
To construct radio station at Warsaw, V. 112, p. 1031.
Minority interest
acquired by United Fruit Co.
V. 112, p. 1289.
STOCK.
Authorized issues, both with the same voting rights:
(a)
")
7,500,000 shares of common stock with no par value; (b $25,000,000 7%
pref., par $5.
Callable at $5 50 and cumulative after fi cal year ending In
1923.
General Electric Co. acquired 2,000,000 shares of common and
$675,870 pref., while $10,000,000 pref. and 2,000,000 shares of common
were offered for Marconi property.
V. 110, p. 173, 367, 1532.
;
-
*
"
OFFICERS.—Chairman, Owen D. Young; Pres., Edw. J. Nally; Sec. A
Comp., Chas. J. Ross; Treas., Geo. S. De Soils a.—(V. 112, p. 477, 1031,
1289, 1984.)
RAILWAY STEEL-SPRING CO.—Incorp. in New Jersey on Feb. 25
1902 as a consolidation (V. 74, p. 382, 482); enlarged by subsequent acquisi¬
tions.
V. 66, p. 185; V. 72, p. 444; V. 74, p. 1041, 1200; V. 75, p. 80; V. 93,
942, 734.
Total capacity steel spring plants, 155,000 tons; steel-tired
plants, 69,500 wheels; tire plant, 150,000 tons.
The company's
are located at Latrobe, Pa.; Chicago Heights, 111.; Pittsburgh, Pa.;
East St. Louis, 111.; Phila., Pa.; Detroit, Mich.; Pullman, 111.; Hudson, N.
Y.; Depew, N. Y., and Scrautou, Pa.
The subsidiary Canadian Steel-Tire
& Wheel Co., Ltd., has a plant at Montreal.
p.
wheel
works
DIVIDENDS
on
pref., 1 % % quar., paid June 1902 to Mar. 1921. incl.
Common, 2% 1904; 1905 to 1907, 4% yearly; 1968. 3%; 1913, 2%; 1914-15,
none.
Dec. 1916 to Sept. 1918, 5% yearly (1%% Q.-M.); Dec. 1918 to
Mar. 1921 paid 2% quar.
>
1920. in V. 112, p. 1279, showed:
Gross
Net, after
Taxes,
Pf. Divs. Com. Divs.
Earnings. Deprec., &c.
&c.
(7%).
Paid.
Surplus.
1920-- Not shown $4,435,350 $1,000,000 $945,000 $1,080,000 $1 410 350
1919
Not shown
4,394,353
1,200,000
945,000
1,080,000
1,169,353
1918--$25,182,031
8,019,019
4,592,920
945.000
776,250 1,704,849
1917.. 23.905,714
9,098,967
4,791,108
945,000
675,000 2<o87,859
Total surplus Dec. 31 1920, $12,942,354.
Year.
Pres., F. F. Fitzpatrick; V.-Pres., A. S. Henry, F. J. Foley and
Cormick; Sec., M. B. Parker; Treas., H. S. Banghart.
Office, 30
E. McChurch
St., N. Y.—(V. 112, p. 855, 1279.)
RAND MINES,
LTD.—A holding company, incorp. In the Transvaal,
Owns shares in a large number of companies own¬
Union of South Africa.
ing and operating gold mines in the Witwatersrand District of
CAP. STOCK.—Auth., £550,000;
issued, £531,498.15s;
products (notably Quaker oats. Puffed wheat, Ac.) at Akron, O.
Cedar Rapids,
la.; Memphis, Tenn.; Battle Creek, Mich.; Tecumseh
Mich.; Peterborough, Ont.; Saskatoon, Sask.; and until the outbreak of the
war, Hamburg, Germany.
Some of these plants also produce commerical
mixed feed.
Plants for the production of feed alone are operated at
Memphis, Tenn., and Richfora, Vt.
Flour mills are owned ana operated
at Akron, Ohio; Cedar Rapids, Iowa; Peterborough, Ont., and Saskatoon,
Sask.
Macaroni and spaghetti are manufactured at Tecumseh, Mich.
In addition, owns and operates 59 country elevators, a veneer boxboard
plant at Foxworth, Miss,, and a strawboard plant at Pekin, 111.
In
Aug. 1919 the Cedar Rapids mill was said to be the largest general cereai
food plant in the world, the Akron and Peterborough mills the second
and third largest.
During 1919 placed upon the market a new line—
Two-Minute Oats and Two-Minute Wheat.
The company has 49 sales
shillings.
food
offices
in
the United
States and Canada.
Anti-trust suits, V. 96, p.
1706, 1766; V. 98, p. 76, 100; V. 102, p. 1544.
1631; V. 106, p. 92; V. 107, p. 1673.
The Department of Justice on June 1
1920 submitted a motion in the U.S. Supreme Court to dismiss its appeal in
Its suit under the
Sherman law against the company.
V. 110, p. 1420,1087.
STOCK, Ac.—Pref. stock has no voting power (except as regards Increase
unless dividends are 3 months in arrears.
V. 83, p. 674.
July 1919 the authorized issue of each class of stock was increased
$15,000,000 to $25,000,000 and the outstanding common was increased
from $8,250,000 to $9,000,000 and the preferred from
$10,536,700 to
$18,000,000 by sale of new stock to shareholders and syndicate to reduce
floating debt incurred in part for additions.
V. 109, p. 78, 376. The out¬
standing common stock was increased to $11,250,000 through the payment
of a 25% stock dividend in Sept. 1920.
of pref. stock)
In
from
DIVIDENDS
(%) (1907-09.
(cash)__\8 yrly.
1910.
1911-16.
1917.
1918.
1919-21.
10 yrly.
10%
15
See text
April 15 1919 paid each quarter 3%
paid 3%; no extra; April 1921, 1%%.
Sept. 30 1920 paid 25% in common stock.
V. Ill, p. 699 799.
common
9%
In 1918, Jan., 3%; April 15 1918 to
and 1% extra.
July 1919 to Jan. 1921
On
Co, N
do
QUAKER OATS CO.—ORGANIZATION.—Incorporated in New Jer¬
sey on Sept. 21 1901.
Owns and operates plants for the production of cereal
On
Payable
are
REPORT.—For cal. year
1919-20.
Weber H. N. Cole, L. B. Hancock
Heath.
Dividends
Cal.
1921:
Gross-..--$72,977,460 $54,304,091 Depreciation .$2,724,697
735,622
13,964,295 Pref. div
Net
14,001,221
1,489,542 Com. divs— 4,662,500
Federal tax.
1,652,905
324,953 Balance, sur. 3,237,928
Interest
734,263
Amort, disc.
253,306
x 20%
17%
Pres., Bemaft G. Dawes; V.-Ps.,
15 Apr 15
May 31
0—F
Q-J
15,771.790 See text
10
right to subscribe at par for $9,187,600 (26%) new common stock for the
of expanding and extending the business, Ac.
This increased the
amount outstanding to $45,937,500.
See Y. 108, p. 585, 884, 2343; V. 109.
D
675
'The shareholders in Jan. 1920 voted to increase the auth. pref. stock from
$10,000,000 to $90,000,000.
Of this amount, $10,000,000 shall be desig¬
nated 6% pref. and set aside for the purpose of exchange, share for share,
for the existing 5%% pref. stock.
The remaining $70,000,000 may be
issued in installments from time to time at div. rates not to exceed 8% and
not less than 5%.
New pref. stock has equal voting power with com. stock
and is pref. as to assets and divs.
Divs. are cumulative and payable quar.
(Q.-J.).
Redeemable, all or part, at 110 and divs.
On March 19 1920 an issue of $10,000,000 conv. 8% cum. pref.
stock
was
auth. and offered to com. and pref. stockholders at par
(Unsold
8
13.500,000
13,500,000
100
purpose
Places Where Interest and
Maturity
See text
100
refining capacity exceeds 25,000 bbls. per day; 1,674 tank cars, of which
1,519 are owned and 155 under lease; 41 distributing stations and 25 drive-in
stations in Yt. Mass., N. J., Del., Md., N. Y„ Pa„ W. Va. and Ohio.
In Dec. 1920 formed a new subsidiary, the Purfina Co-Operating Co.,
with headquarters in Antwerp.
V. Ill, p. 2332.
and
See text
5
Consolidated Copper Co—Capital stock $16,000,000.
1
?erper share during each succeeding31 1921, the
share from July 1 1920 to May 12 months,
Last Dividend
Date
Bonds
COMPANIES.
[For abbreviations. &c„ see notes on page 6.]
[VOL. 112.
STOCKS AND BONDS
INDUSTRIAL
218
Also common stock. 50% ($2,500,000) 1912 and 10%
($750,000) in 1916
REPORT.—Report for cal. year 1920 In V. 112' p. 855 showed:
Gross
Deprec'n
Pref.Divs.
Com.Divs.
Balance
&c.
Year—
(6%).
Paid.
Sur. or Def.
Profit.
$605,951 $1,080,000 (12)$1,147,500 def$8,052,425
1920
def$5 218,974
1,053,835
751,251 (14)1,177,500
sur
1919
3,733,729
751,143
549,677
632,202 (15) 1,237 500 sur 1 632 886
1918
4,052,265
384,848
563,050 (10H) 866,250 sur 3,397,604
1917
5,211,752
Calendar
OFFICERS.—Pres., Henry P. Crowell; V.-Ps., James H. Douglas and
Sec., Robert Gordon.
Office, 1600
Chicago, 111.—(V. 112, p. 752, 855.)
Railway Exchange,
QUINCY (COPPER) MINING CO.—(V. 112, p. 940.)
RADIO CORPORATION OF
AMERICA.—Incorporated in Oct. 1919.
patented radio, Ac., devices belonging to the Gen¬
also acquired all the property of the Marconi Wireless
Has contracted to use the
eral Electric Co.;
par
value. 5
SHARES.—Pursuant to a deposit agreement made be¬
Bernhard, Scholle & Co., N. Y., the Bankers Trust Co., N. Y., as
AMERICAN
tween
depositary,
150,000 ordinary
depositary in London, Eng.,
and the registered holders of certificates,
shares have been
delivered to the agency of the
against which the Bankers Trust Co., N. Y., has issued certificates for 60,000 "American Shares," each "American Share" representing 2)4 ordinary
shares of the par value of 5 shillings each.
"American Shares" may be
exchanged for ordinarv shares on the foregoing basis.
The Deposit Agree¬
ment may be terminated at any time on approval of 75% in interest of the
holders of certificates.
>
paid in Feb. 1921, making a total of
145% paid during the fiscal year against 100% in 1919-20.
On "American"
shares paid $2 06 on Feb. 25 1921.
Office, Johannesburg, South Africa.
London office, 1, London Wall
Buildings, London, E. C.—V. 112, p. 265, 752. 1289, 1747, 2090.
DIVS.—An interim div. of 85% was
RAY CONSOLIDATED COPPER
CO.—ORGANIZATION.—Incorp*
in Maine in May 1907.
Mining
Mill and 4,324 acres owned at
lands at Ray, Ariz., comprise 2,143 acresHayden, Ariz.
Owns $1,785,100 capital
stock (total outstanding) of Ray & Gila Valley RR.
The company guaran¬
tees $1,600,000 8% notes of Copper Export Association, Inc.
V. 112, p.
655.
In Feb. 1921 a suit for alleged infringement of the so-called AgitationFroth Patent and Soluble-Frothing Agent Patent was brought by the Miner¬
als Separation Co. in the U. S. District Court for the District of Maine.
Production
1921.
3,100,000
(Lbs.)—
March
-
9,059,000
Three months
Note.—*Operations were suspended April 1 1921.
V. 112.
p.
1920.
3.900,000
11,684,073
1350.
REPORT.—Year 1920:
46,011,371
83.599,*160 88,582^649
$8,252,505 $19,209,311 $21,278,070
1,666,271
4,653,455
9.701,170
3,154,358
5,125,832
6,624,152
(20%)
(32 )4%)
(42 M%)
Copper produced (lbs.)_ 47,062,030
Total operating revenues $8,254,022
Balance for dividends—
911,675
Divs. & capital distrib'n
Rate of dividends
1,577,179
(10%)
DIVIDENDS—
Per
cent
1913.
11%
1914.
7)4
1Q17
1Q1S
1Q1Q
1920.
1915.
1916.
12%
27%
1917.
42
1918.
32%
1919.
20
1920
10
March 1921 dividend was omitted.
-
John Stuart; Treas., Robert Stuart;
the Transvaal.
;
Pres., Sherwood Aldrich, 25 Broad St., New York.
855. 940, 1031, 1406, 1624, 1747, 1874.)
-
-(V. 112, p. 168,660,
ROBERT RE1S & CO.—ORGANIZATION.—Incorp. in N. Y. May 13
1885.
The company sells and distributes throughout the world men's
underwear, hosiery and kindred lines, the products being sold under the
trademarks "Reis* and other well-known brands and in certain territories
is the sole sales agent for "B.V.D." and "Glastenbury" mills.
CAPITAL STOCK.—7% cumulative first p
$2,250,000; par $100.
$7 cumulative 2d pref., a
auth.
8c
outstanding,
d outstanding,
7,500
MAY, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES.
[For abbreviations,
<&c.,
sec
STOCKS
Par
Amount
Bate
When
Last
Dividend,
Value
Outstanding
%
Payable
and
Maturity
$100
loo
IstM $550,000 yrly call 102H conv into 1st pref_Col.c*Ar*
auth 500,000 shares
Wharton Steel Co stock authorized $10,000.000-..-..
Wharton Steel Co first mortgage convertible
1916
500
100
None
100
1918
1.000
197
REMINGTON ARMS C
CO.—ORGANIZATION.—Incorp. under laws
Delaware in May 1920 as successor to the Remington Arms Union
Cartridge Co.
The latter company was incorporated Jan. 17
1916 in Connecticut to take over the Remington Arms & Ammunition Co.
of N. Y. and the Union Metallic Cartridge Co. of Conn.
Plants at Bridge¬
port. Conn., and Ilion, N. Y.
Sale of plants built for war needs.
V. 110,
p. 472, 1192.
of
Metallic
CAPITAL STOCK.—Auth. capital stock consists of $10,000,000 7% pref-
vrlue (600,000 sh. issued).
OFFICERS.—Pres., C. L. Reierson; Treas., Chas. W. Many;
George Bingham.
N. Y. office, 233 Broadway.—(V. 112, p. 568.)
REMINGTON
TYPEWRITER
J
Sec.,
CO.—Organized in 1893 in N. J.
A
J
text
Check from Co's office
do
do
do
do
July 1 1923
May 2 1921 1X
July 1 1921 IX
Got
1
1940
Deo
1
New York Trust Oo^ N Y
Cent Union Tr Co, N Y
1931
Jan
Hanover Nat Bank, N
1 '22 to *28
V
May 15 1919
Apr 1 1921
Nov 1
IX
1921-23
New York
New York
Menominee, extensive iron and coal lands in Alabama, Ac., by-product coke
plant, Youngstown, coke plants at Republic and Acheson, Martin and Bowood, Pa., and Thomas, Ala.
See V. 71, p. 545.
Acquired the properties
of the Palos Coal & Coke Co. and the Bessemer Coal & Coke
Co., known
as
Bessemer Shafts No. 1 and No. 2.
For properties, V. 68, p. 674*
V. 70, p. 228; V. 71,
79.
1562; V. 83, p. 1035; V. 84. p. 342; V. 87, p. 1303.
side Coke
Co.,
p. 1480. 1702; V. 81, p!
In Jan. 1918 the Wood-
subsidiary, purchased some 4,000 acres of coal lands in
Allegheny and BUtler counties. Pa.
Export combine, V. 107, p. 2482.
On May 1 1919 took over the property of the De Forest Sheet A Tin
Plate
Co., which has 10 sheet mills near Nlles, O.
V. 108, p. 1614,1941; V. 110
p. 867.
In Nov. 1906 Republic Iron & Steel and Tenn. Coal A Iron
jointly guar¬
anteed $700,000 5% bonds of Potter Ore Co. ($182,000
outstanding Dec.
31 1920). V. 83, p. 973, 1417.
a
STOCK.—26,480 shares of unissued common stock were offered to stock¬
1919, at par to the extent of 10% of holdings.
109, p. 2177, 2270.
holders of record Dec. 26
V.
LATE DIVS.—
('11. '12. '13. *14. *15. '16.
On
preferred
On
accumulations.(
On
common
7
IX
11
..
7
1
IX
X
5X
1
7
8
..
.
In 1921: On Common, Feb. 1,
as
Payable
MAS Sept 1 1925
p. 454; V. 77. p. 455; V.
REPORT.—For cal. year 1920, in V. 112. p. 1031, showed: Net profits,
$753,302; pref. divs., $210,000; invent, adj., $782,872; previous surplus,
$168,922; profit and loss dificit, $70,648.
Pres. A 8ec., Arthur M. Reis; V.-P. & Treas., Leslie R. Reis.
Office,
889 Broadway, N. Y.—(V. 112, p. 1031, 1524.)
no par
6
6
25,000.000 7 in 1920
Q—J
A
A
O
12,510.000
i *
J
A
D
91,000
5 *
700.000
™6g
Text
100,000
7
904,000
Q——J
MAN
7 g
3,000.000
(no par) stock since Dec. 31 1919.
stock and 1,000,000 shares of com. stk. of
J Jan 1 '22
30.000.000 See
Ac
1.000
value; common, auth., 125,000 shares; outstanding, 100,000
and 2d Pref.
A
100
1,000
1906
IX
IX
are
do
2%
do
to'26 Columbia Tr Co, N Y
J
100
1910
par value.
($100 par)
O See text
Apr 1 1921
Apr 1 1921
Apr 1 1921
Where Interest and
Dividends
See text
See text
had been paying divs. at rate of 1 X % and $1 75 per share
quarterly on
1st Pref.
8
Places
See text
1886
DIVIDENDS.—The directors in March 1921 deferred for an indefinite
period action on the quarterly dividends on the 1st A 2d pref. stocks. The
co.
&
0—J
Q—J
Q—J
6 g
See text
100
Motor Truck—Com stock 100,000 shares.
Preferred (a A d) stock 7% cum call 115 auth $1,000,000
First mtge A coll trust 7% serial notes call BaGcI.xxxc*
par
A
7
7
1,471,500
250,000 shs.
1918
$500.000
Republic
no
Ac
None
Morris County RR first mtge auth $300,000
Republic Iron & Steel—Common stock 5HO.OUO.OOO-.
Pref 7% (a A d) cum (V 69. p 850) $25.000.000
Sinking fund gold (lst)M $25,000,000 red par.Ce.xc* Ar*
Potter Ore first mortgage gold guaranteed (text) s f
x
Bessemer Coal A Coke Co 1st M gold due $100,000 yly.Peh
no
$9,996,000
3.998.000
1,217,000
4,994,000
100
Replogle Steel Co—Stock
shares of
219
Date
Remington Arms Co—See text
Remington Typewriter—Common stock $10,000.000—
First 7 % pref (a A d) stock cum $4,000,000
First 7% pref (a & d) Ser "8" (special) stock cum call 110
Second pref (a A d) stock 8% cum $6,000,000 auth
shares of
BONDS
Bonis
notes on -page 6.1
Wharton A Northern RR stock authorized
AND
'17. '18. '19. '20.
7
4
6
7
„.
7
0
'21.
7
See
IX
__
6
text
6
IX%\ May 2, 1^%: Aug., div. omitted.
V. 112, p.2198,
Union Typewriter Co.; reincorporated in New York in May 1909.
V. 88
p. 752, 1377; V. 89, p. 925.
In March 1913 changed name to Remington
BONDS.—The 5s of 1910. now a first lien on the entire
property, are
callable for sinking fund (minimum $250,000) and also on and after
Typewriter Co. after taking title to the plants of the controlled companies,
viz.: Wyckoff, Seamans & Benedict, Yost Writing Machine, American
Writing Machine, Monarch, Smith Premier and Densmore Typewriter com-
retire
Sanies. V. 96, Co.866; Flushing early in 1920. p. Acquired the Warnplant in
Tathan Mfg. p.
1812. Purchased Co. of
at V. 79, p. 1481; V. 101,
V. Ill, p.500.
Aug.1920.
LATE DIVS.—
First
pref. %
Second pref.,
Common, %
on
Oct.
1
'20. Apr.'21,
7
(Q-J124)
8
(Q-J 2)
1918, amounting to 23%
on
1st
Sref., were paid, half in cash and half in in cash, bonds; Liberty bonds, and
2d pref. was paid (during 1919) 6% Liberty 6% in the div. of 32% on
le
20% in first pref. Series "S" stock obtained by buying $1,000,000 6% bonds
and converting the same into stock which was then distributed as a dividend.
V. 108, p. 177, 1065, 1185.
STOCK.—The five-year voting trust
expired Dec, 31 1920 and was not
renewed. V. Ill, p. 2332.
The Series "S
(i. e., "special") stock has all
the privileges of the other 1st pref., but is subject to call at any time at 110
and divs.
V. 107, p. 1927,
1925, 1750, 2194.
BONDS.—The mortgage Is limited to $7,500,000 serial bonds, whereof
the initial issue ($5,500,000) was to mature $550,000 Jan. 1 annually 1917
to 1926, both incl., callable at 102X, but convertible at option of holder
after Jan. 11918 into new 7% first pref. conv. stock at par. V. 102, p. 72,158
REPORT for year ending Dec. 31 1920, in V
112, P 1511, showed:
Year— Net Earns. Int.{Net). Deprec.
Pref.Divs.
Bal.,Sur.
Total Sur.
1920--—$2,026,885
1919
3,327,457
$96,526 $351,900
2,469,031
2,256,134
1918
116,549
264,000
297,000
300,200
286,560
282.000
$764,182
2,452,063
$814,277 $6,884,817
458,645
6,070,540
728,471
1,190.000
1,677,134
uwuvu
incidental thereto
or
connected therewith, upon
having
sell iron,
iron ore, steel and other metals; to mine ore and other mineral
substances; to acquire and hold or dispose of mines, minerals and mining
rights and claims.
The Wharton Steel Co. owns in fee 5,100 acres of iron ore land near
Wharton. Hibernia, Oreland and Mine Hill, and in Morris County, which
is in Northern New Jersey.
These lands contain 29 mines, four of which
are
in
process
of development.
'
SECURITIES OWNED.—Owns the following securities of the Wharton
Steel Co.: $3,145,000 capital stock (entire amount issued), $1,029,000
Steel Co.: $3,145,000 capital stock (entire amount issued); $2,796,000 6%
First Mtge. Conv. bonds due July 1 1923.
CAPITAL
shares of
no
STOCK.—Authorized 500,000 shares; outstanding, 250,000
value.
par
BONDS.—The company itself has no funded debt.
The funded debt of
the Wharton Steel Co. is as follows: 6% fisrt mtge. conv. bonds, due July 1
1923, auth. and issued, $3,000,000.
(For amounts owned by Replogle
Steel Co., see under "Securities Owned" above.)
The Wharton Steel Co., through ownership of the entire $500,000 capital
stock, controls the Wharton & Northern RR. Co.
The latter company has
outstanding the following indebtedness: $300,000 Morris County RR. 6%
bonds due Sept. 1 1925 (all owned by Wharton Steel Co.)
Ore reserves estimated at 100,000,000 tons of high-grade ore.
V. 109,
2271.
p.
REPORT.—For cal. year 1920, in V. 112, p. 1031, showed: Gross profit
sales and net rev. from ry. oper., $189,974; oper. loss, $287,854; other
income, $584,062; deductions, $293,195; net income, $3,013.
on
OFFICERS,—Chairman, J. Leonard Replogle* Pres., W. H. Brevoort*
V.-P., C. H. MacNelll, Sec. & Treas., S. H. Bell, Asst. Sec. A Asst. Treas.,
E.
F.
Nickerson.
DIRECTORS.—J. Leonard Replogle, W. H. Brevoort, C. M. MacNeill,
T. Coleman du Pont, Harry Payne Whitney, L. W. Baldwin, C. J. Schmidlapp, Mortimer L. Schiff and W. H. Williams, New York City.
Main office, 120 B'way, New
York.—(V. 112,
p.
265, 1031, 1624.)
REPUBLIC IRON & STEEL CO.—ORGANIZATION.—Incorp. in
N. J. May 3 1899 to consolidate 29 plants making bar and forge iron.
Since the date of the organization, the property has been completely re¬
organized and the character of the business changed to the production of
steel, now operating 11 blast furnaces.
Bessemer steel plant, open-hearth
steel works, tube works, Ac., mining properties in Mesaba, Marquette and
Apr. l
105 and int,* $19,869,000 have been issued to
a
on
the
capacity of 600,000 tons of coal yearly.
REPORT.—For calendar year 1920, in full, V.
1920.
1919.
Unfilled orders Dec.31 (tons) 198,678
486,379
Gross business
$76,342,219 $45,872,344
14,174,163
5,031,837
4,006,839
1,842,125
Int. on bonds and notes.
737,967
733,403
Excess profits taxes, &c.
1,812,835
315,112
Preferred dividends (7).
1,750,000
1,750,000
Common dividends (6%)
1,800,000
1,632,687
Gross profits.
Depreciation
Balance, surplus.
*$4,066,522def$1241,490
112, p. 754, showing:
1918.
1917
206,515
418,943
$75,224,110 $78,325,461
18,906,815
28,769,021
4,695,939
2,273,832
738,182
759,334
5,680,759
9,878,657
1,750,000
1,750,000
1,631,460
1,631,460
$4,410,475 $12,475,737
Total profit and loss surplus Dec. 31 1920, $37,441,571.
♦From which was deducted $505,923 balance of additional assessment
of Federal taxes for 1917.
.
3 Mor. end. Mar. 31—
a
Netearnings
Total income.
1919.
1918.
$1,572,475
200,971
$3,527,729
$521,497
177,797
54,845
184,244
$2,465,893
398,820
104,165
185,591
$1,773,446
454,571
86,494
178,425
$3,782,056
496,255
71,932
$104,611
b437,500
b450,000
$1,777,317
437,500
450,000
$1,053,956
437,500
407,865
$3,021,768
437,500
407,865
.def$782,889
,817
$208,591
...
charges
Balance
1920.
$2,353,021
112,873
Deprec. & renewals
Exhaustion of minerals.
Interest
1921.
$470,242
51,255
Other income
...
Pref. dividends (1%%)Common divs. (1H%)--
acquisition or all outstand¬
ing notes and bonds of Wharton Steel Co., which latter company is to be
dissolved.
Is empowered, among other things, to manufacture, buy and
entire Issue at
There
REPLOGLE STEEL CO.—ORGANIZATION.—Incorp. under laws of
Delaware Oct. 30 1919 as a holding company.
The company proposes to
become an operating company and to engage in the mining of iron ore,
manufacture of pig iron, quarrying of limestone, and to carry on business
an
Martin Coke Works property.
In 1917 $1,000,000 6% serial gold bonds were assumed on purchase of
the Bessemer Coal & Coke Oo.'s property (Bessemer mines Nos. 1 and 2)
5,611,895
4.883,424
Chairman, Lorenzo Benedict* Pres.. Frank N. Kondolf* V.-Pres. A
Compt., Cecil S. Ashdown; Sec., Geo. K. Gilluly; Treas., E. J. Saxer, 374
B'way, N. Y. Office, 374 B'way, N. Y.—(V. 112, p. 752, 1511, 1747.)
as
1182; V. 93. p. 51; V. 95. p. 622, 822; V. 100. p. 1353, 1442.
were
also, Dec. 31 1920,
$73,000
bonds outstanding
p.
) *02-'07. '08-'12. '13. '14. '15-'18. 1919.
17 yrly. 7 yrly.
7
7
See
7fsee
18 yrly. 8 yrly.
8
8
Text 6{text
J 6 yrly.
0
0 None 01
The accumulated dividends
1920
the 5s of 1904 and for general purposes (of which $6,868,000 re¬
tired by sinking fund and $ 191,000 held in the treasury),
The remaining
$5,131,000 of the $25,000,000 auth. are reserved for issue for acquisitions
and betterments under restrictions.
V. 90. p. 451, 703, 854, 1048; V. 92.
Balance, surplus
254,327
192,101
$2176,403
These are the net earnings from operations, after deducting charges
for maintenance and repairs of plants, amounting to $704,059 in 1921,
$1,518,717 in 1920, $1,298,708 in 1919 and $1,003,071 in 1918, respectively
and also after provision' or excess profits, Ac., taxes.
Unfilled orders on hand (finished and semi-finished); March 31 1921,
a
121,498 tons.
This compares with
198,678 tons Dec. 31
1920.
OFFICERS.—Chairman, John A. Topping; Pres., Thos. J. Bray;
V.-Pres., II. L. Rownd and J. Wilbert Deetnck; Treas., H. M. Hurd;
Sec., Richard Jones Jr.
Offices, 17 Battery PL, N. Y., and Youngstown,
Ohio.—(V. 112, p. 738, 754, 1624, 1747,2198.)
REPUBLIC
MOTOR
TRUCK
CO.,
INC.—ORGANIZATION.—
Incorp. in New York, Aug. 10 1916, and purchased Republic Motor Truck
Co. of Mich.
Owns entire capital stock or
Torbensen Axle Co. of Ohio and
Republic Motor Truck Co. of Calif, and Baltimore-Republic Truck Co.
Plant at Alma, Mich, covers 595,000 sq. ft. of floor
space.
STOCK.—Of the Pref. stock $96,000 is held in the Treasury for can¬
cellation.
Annual sinking fund for the retirement of Pref. at 115 began in
1918.
Dividends.—On the Pref. stock at rate of 7% (Q.-J.) since organization
15 and May 15 1919, $1 each.
July
1919 div. passed.—V. 109, p. 893.
to date; on the Common stock Feb.
15
NOTES.—The notes are due $500,000 each Nov. 1 1920 and 1921 and
$1,500,000 each Nov. 1922 and 1923.
Callable on any int. date on 30
days' notice as follows (with int,): Notes having 1 year to run, 100X'
notes having 2 years to run, 101* notes having 3 years to run, 101X' notes
having 4 years to run. 102,
A first mortgage on entire property* also se¬
cured by deposit of the Common stock of the Torbenson Axle Co,
See
offering in V, 107, p, 2382,
Earnings for Year Ended June 30 1919 in V. 109, p. 1372
Net
Net
Fed.
Pref.
Com.
Bal.
Sales.
Profit.
Taxes.
Div.
Div.
Sur.
1917-1918—$20,522,381 $1,485,084 $500,000 $70,000
$915,084
1918-1919— 16,513,377
862.902 *562,310
67,299 $200,000
33,293
June 30 Yr.—
*
Estimated.
Net earnings before
were
Federal taxes for six months ended June 30 1920
$1,741,618.
OFFICERS,—Pres., John N. Willys; Vice-Pres,, J. O. Eaton; Chair¬
man, James H. Foster; Vice-Pres. & Gen. Mgr., C. F. Hepburn; Vice-Pres.,
Thomas A. Burt; Vice-Pres., O. W. Haye; Compt.. H. O. Minich; Sec.Trea8,, Chas, G, Rhodes,
General office, Alma, Mich,—(V, 111, p, 301,
1089, 2049.)
see notes on page
0.1
Amt. outstanding in hands
The Nat. Knam. &
of public.
Par
Amount
Rate
When
Value
Outstanding
%
Payable
$25 $10,000,000 See
Reynolds (R J) Tobacco Co—Com stock $10.000,000
Class B Oo n mi sto u $11 111.111 a lth
New Class B common stock $70,000,000 auth
Pref stock 7% cum $50,000,000
3-year notes call 1st year 102; 2d yr 101; 3d yr 100X - Ba.c*
Rogers-Brown IrCo—*8.000,000 g red 102 X Ba xc*
Buff & Susq Iron—1st M *3,000.000 g red (text)..N.xc*&r
Debens *1,500,000 g red 105 since Sept 1910 Col.xc* &r
Royal Baking Powder—Common stock *10.000.000 ...— >
Preferred (a A d) stock *10.000,000 6% cumulative
Royal Dutch Co.—See text
Safety Car Heating A Lighting—Stock *10,000.000 —
St Joseph Lead Co—Stock $20.000,000
—-—
•St Louis Coke & Chemical—Com stock $1,000,000 —-—
Pref (a A d) stock 8% cum $10,000,000
Serial 1st M convert notes (see text) $3,000,000 auth__CCc*
x
100
25
100
1919
li>10
1902
1900
5
100
1920
Stg.
C
500 &c
o. owns a
outstanding, 400,000
shares, par value $25; Class B common, auth. 100,000 shares, par $100,
none outstanding;
New Class B, auth. 2,800,000 shares, par value $25;
^outstanding. 2,000,000 shares; not Issued or reserved, 800,000 shares, par
value, $25.
Preferred auth., 500,000 shares, par value $100; outstanding,
200,000 shares; unissued,
Common, auth. and
300,000 shares.
1917.
12
16
1918.
1919.
12
0
20-21
See
text
'15. '16.
12
12
12
12
12
2
0
4
10
11
1920, Incl,, paid 3% juar. In cash* Aug, 16 1920
ass B Common; Oct. 1
1920
paid 200% stock dividend on Common and <
to April 1 1921 (quar,) 2% in cash (equivalent to 50c. on each share of $25
par value) on Common, and New Class B Common incl. stock issued in
payment of 200% stock dividend.
NOTES.—In Aug. 1919 sold $15,000,000 3-year 6% notes.
The prop¬
erty cannot be mortgaged,while these notes are outstanding.
V .109, p.584.
COM.
1913.1914.
D1VS.—
Regular %
Extra %
-_
Jan, 1 1919 to July
_
REPORT.—For cal. year 1920 in V.
112, p. 1142, showed:
1919.
1918,
1917.
$7,042,763 $10,340,345
3,281,250
for
1920.
Calendar Years—
xNet profit.*
$10,691,293 $11,272,753
Dividends
5,000,000
3,100,000
2,850,000
x After deducting all charges,
expenses of management, provisions
maximum Federal taxes, allowances, depreciation, advertising, &c.
Pres., W. N. Reynolds: V.-P.,
Sec., M. E. Motsinger; Treas., D.
(V. 112, p. 1031, 1132, 1524.)
Bowman Gray, and James A. Gray;
Rich. Office, Winston-Salem, N. C.—
ROCHESTER GAS & ELECTRIC
Y.
for
Range; also leaseholds on ore lands at Iron
River, Mich.
Company mines its own coal and manufactures its own coke
from coal lands leaned at Tyler and Sykes, Pa.
Stock auth., $5,000,000
common and $2,000,000 7% pref.; outstanding, $5,000,000 common and
$1,550,000 preferred.
Applications to list, V. 83, p. 101, and V. 85, p. 1524.
BONDS.—The
First and Refunding" 6s of 1910 (*8,000,000 author¬
ised issue) are secured by a ttrst lien on two new furnaces and a direct
lien on all the remaining property, and by a sinking fund of 25c. ner tori on
upwards of 20,000.000 tons of Iron ore.
Of the issue, $4.o08.000 Is out•tending, $1,939,000 had been retired up to Dec. 31 1920 and $20,000 had
been purchased and held in treasury on Dec. 31 1920: $500,000 is re¬
served to retire final $500,000 Buffalo A Susq. 5s to be outstanding June 1
1932, $1,500,000 to retire $1,500,000 B. A 8. debentures.
The bonds
will be paid at 102X and int. Jan. 1 yearly, the rate now being $214,000
1921-1940, incl.
V. 90. p. 774; V. 92. p
1246; V. 93. p. 1793.
The B. & S. 1st 5s are sub. to call as an entire issue at 107 X. also at pa>
for sinking fund in order of their numbers, beginning at the lowest number
$1,400,000 redeemed in June 1907 to *20, and $17,000 purchased and held is
treasury.
Debentures purchased and held in treasury. $520,000.
V. 82
p.
220; V. 85. p. 1524.
REPORT.—For cal. year 1920:
Interest,
Total
Cal. Year—
Preferred
Common
Dividends.
$108,500
Deprec ,,&c.
$1,987,902
1,738,499
Income.
Balance,
Dividends.
Surplus.
$400,000 def$844,655
200,000
247,06.
400,000
x241,16l
1920
-.-$1,651,747
108,500
1919
2,294.056
1.921,188
108,500
1918
4.517,743
x After deducting $1,840,885 for provision for income and war profits tax
Wm. A. Rogers, Pres.; Hugh Kennedy, 1st V.-Prea. and Gen. Mgr.
John D. Larkin, 2d Vice-Pres.; Wm. S. Rogers, 3rd Vice-Pres. & Sec.,
D. G, Williams, Treas.—(V. 104, p. 1050; V. 105, p. 179; V.l 07, p. 1835.)
ROYAL BAKING POWDER cO•—ORGANIZATION.—A consolida¬
Feb. 1899 unH« »the laws of N. J.
See V. 71, p. 545.
tion incorporated in
'10. *17 *18. '19. '20
8
8
8
8
8
2
2
2
2
2
2
deferred.
Pres., W. L. Garey; Vice-!'"*- , A. H. Porter, F. D. Bristley and E. McO.
Peters; Sec., V. O. Gray,
o'fice, Royal Bldg.. William and Fulton Sta..
DIVS.—
'02 to
0>. '06-'09
10 y'rly
8 yearly
Common.%
*lUto'13. *14. '15
12 y'rly
10
8
Extra in Dec.
__
March 1921 dividend on common was
-.
In 1902 entered the international field and in conjunction with
Transport & Trading Co. of London (which see) and the de
Asiatic Petroleum Co. as a distribut¬
ing concern.
Subsequently absorbed the principal other oil producing
enterprises In Dutch East Indies and amalgamated its interests with those
of the "Shell," the combined assets of both being turned over to two new
companies, viz., the "Bataafsche Petroleum Co. and the Anglo-Saxon
rapidly.
Rothschild (Paris) group, founded the
Russian
properties,
amount at
important oil fields in Rumania, Russia, Egypt, the United
(Oklahoma and California), Panama, Venezuela and Mexico.
Interests in
States
AMERICAN INTERESTS.—The combination owns a predominating
377.
Also owns $2,247,000 Ordinary shares and $840,000 Preference shares of the Roxana Petroleum
Corp. of Virginia and $179,760 Ordinary shares of the Ozark Pipe Line Corp.
The "Roxana" owns fields in the well-known oil districts of Gushing
Healdton and Bartelsville.
Also constructed a large refinery in St. Louis
and one at New Orleans.
At Martinez, on the Pacific Coast near San
Francisco, a refinery capable of handling 25,000 bbls. a day and storage
facilities at Martinez and on the fields for 4,250,000 bbls. have been estab¬
lished, as well as an 8-inch pipe line 170 miles long from the field to the
refinery.
In Mexico the allied companies, basides owning other valuable
interest in the Shell Co. of California.
property, control the
V. 109,
p.
Mexican Eagle Oil Co., Ltd.
Has also established
company's treas'y.
the
In
are
has been created, which
reserve
a
which these properties were
entirely covers the
carried.
value of Fl. 1,000 (say $402)
sub-shares of FI.100 (say $40 20) each.
For
shares of 100 Florin par value were deposited
8HARES.—The com. shares have a par
each, but the company Issues
trading purposes here, Dutch
with
Equitable Trust Co., N. Y., against which were issued three
share deposited.
This gives a nominal par value of
certificate."
tne
certificates for each
$13.40 to eacn "American
Guilders—
In U. S. Gold
Author'd. Outstanding. Authorized.
Capitalization (no funded
In Dutch
debtor fixed charges)—Outstanding.
85.957,500 229.140.000
213,818,000 570.000.000
Common shares
$
$
Fl
Fl
4% preferred shares
1,500.000
1.500.000
603.000
603,000
4 X% cum. prior shares. 28.500.000
28.500,000
11.457,000 11.457,000
The authorized ordinary stock was increased in June 1919 from 230,000;-
($92,460,000) to 370,000.000 guilders ($148,740,000) and ia
April 1921 to 570,000,000 guilders ($229,140,000).
V. 112, p. 1524. Hold¬
of outstanding ordinary shares of record July 7th were given the right to
subscribe at par plus stamp tax in Holland for one new share for each four
■hares held.
V. 108, p. 2533, 2636.
In June 1916 the shareholders were
permitted to subscribe at par (equal to a bonus of about 120%) for one new
share for each three old shares.
In June 1920 stockholders received the
000 guilders
ers
privilege of subscribing at par to one share of new ordinary stock for each
two shares held.
V. 110, p. 2663.
It was announced in March 1921 that the company intends to increase its
common
stock from 370,000,000 guilders ($148,740,000) to 570,000,000
guilders ($229,140,000).
V. 112, p. 940.
DIVIDENDS.—In addition to the cash
distributed its surplus by a
dividends the company In 1907
In 1918 paid a 50%
is as follows:
stock bonus of 200%.
dividend.
The cash dividend record (%)
'04. '05. '06. *07.
'08-10.
*11. '12. '13.
*14-16.
50
'20
45
share.
'17. '18. '19.
19
41
48
49 yrly. 38 z48 40
15%; on Feb. 15 1921 paid $1.65 per
*73 27 H 28 yrly.
On Jan. 17 1921, paid
'21.
text
stock dividend.
*
Plus 200%
z
Plus 50% stock
dividend.
REPORT.—For cal.
year
67, 379, 660, 940, 1151,
1919, in V. Ill, p. 395, 688.—(V. 112, p.
1524.)
SAFETY CAR HEATING &
LIGHTING CO.—ORGANIZATION.—
Incorporated in 1887 in New Jersey.
Manufactures "Pintsch" light aj
Electric lighting systems installed on over 80 railroads in
ratus.
and Canada.
f '10.
LATE DIVIDENDS
'14-T7. Jan. 1918 to April 1921.
'11-T3.
6%yrly. (l^%quar.)
%l 11
9 yrly. 8 p. a.
1907 a 100% stock dividend was paid.
Cash.
In July
REPORT.—For cal. year 1920:
Paid
in
(exc. war tax.)-$1,453,488
(6%)591.720
200,000
390,769
$957,339
$1,267,104
(6)591,720
175,000
368,500
dividends
Reserved for war taxes
Other reserves
1918.
1919.
1920.
Earns., aft. exp.& tax.
(dep. & cont. fds.)
(6)591.72©
93,000
241,473
$270,999
$131,884
$31,14$
DIRECTORS.—W. L. Conwell (Pres.), Rooert Barbour, Chellis A.
Austin; F. F. Fitzpatrick, Alex. C. Soper, E. M. Buikley, E. LeB. Gardner,
R. Parmly, J. P. Soper, A. B. Hepburn, G. D. Pope and J. A. Dixon.
See.
& Treas. is C. W. Walton.
N. Y. office, 2 Rector St.—(V. Ill, p. 395,
Balance to surpius___>
2431.)
ST. JOSEPH LEAD
CO.—ORGANIZATION.—Incorp. in N. Y. State
perpetual. Owns (a) mineral right on 13,498
lands in Flat River—Leadwood and Doe Run districts.
Mo.; (&) modern smelter at Herculaneum, Jefferson County, Mo., capacity
120,000 tons of pig lead yearly; (c) practically entire capital stock of Miss.
River & Bonne Terre Ry., 46 miles; Id) control of 14-mile interurban electric
line. &c. (V. 109, p. 1831).
The Missouri Supreme Court on June 19 1920 halted the efforts of the
company to take over the property of the Doe Run Lead Co. (controlled
through ownership of 96.43% of stock).
V. 110, p. 2663.
CAPITAL STOCK.—$20,000,000 auth., par $10; $15,494,126 outstand¬
ing.
Listed on N. Y. Stock Exchange in April 1919 (see full statement,
V. 109, p. 1831; V. Ill, p. 1095.)
Annual Dividend Record Since 1891.
March 24 1864; charter now
acres
of lead-bearing
Stock
5
Paid in 1921: March
2X
6
—
6 y'ly
—
—
21, 2^%; June 20,
BONDS.—Miss. River A Bonne
to
1920.
EARNINGS.—
$4,813,512
Income-.
Depletion,
_
_
„
_
—
2X%.
20
—
11
'21.
See
text
i
sinking fund trustees and in
page
1919.
$2,295,256
1918.
1917.
$5,121,164 $10,130,459
1,297,281
4,520,186
1,202,086
1,116,816
2.000.000
600,000
117,844
(20%)2,889,436(11)1550,478(20)2819,004 (25)3535,531
&c
Federal taxes
Dividends
25
10
Terre Ry., $2,500,000 1st M. 5s, due
Dec. 31 1920, $1,102,000 held by
treasury.
See "Railroads" on a preceding
1931;
'20.
20
—
10
'95-'12. *13. '14. '15. '16. '17. '18. '19.
5X
8
Oash(%)12 y'ly
_
sur$121,990 def$489.882 def$995,121 sr$2,074,742
H. Crane; V.-Pres. A Sales Mgr., Irwin H.
Leonidas H. Besson.
N. Y. office, 61 B'way.—(V. 112, p.
Balance, sur. or
acquired exclusive or controlling
,
mailed
do
New York City
large storage facilities and a refinery of exceptionally great capacity is
Curacao, West Indies, in the immediate vicinity of the Panama Canal.
On Dec. 31 1918 had a fleet of 263.746 tons (1914. 255.965 tons).
The
the "Shell"
,
$500, 000
a nd
add'l $1,0 00,000
n
1891-92. *93. *94.
DUTCH CO.—ORGANIZATION.—Incorp. in The Hague.
Holland, in 1890, with a capital of 1,300,000 florins ($522,000).
Through
its subsidiaries it is now the largest international producer and distributor
of mineral oil add Its by-products of Europe.
V. 107, p. 2243. Started
as a local
enterprise or the Dutch East Indies.
After 1900 developed
ROYAL
Checks
IX
1922
IX By ohecx
Apr 1 '21
Q—J
9,802,000 See text
25c.
20 J une20 '21
15.491,126 See text Q-M
1,000,000
8
Q—M
5,000,000
J
&
D Dec '21-J'ne '25 Con & Com Tr & S B.Ohi
8
xl,500,000
N. Y.—(V. 112, p. 1031.)
■
A Aug 1
&
P
rrust Co, N Y
22-d an '40 Bankers
J
&
J Jan
o g
4,003.000
Vew York Trust Co, N Y
J
&
D June 1 1932
5 g
1,583.000
Columbia Tr Co.N Y
1 1926
M
&
S Ian
5g
980.000
Dec 31 20.
41 Checks mailed
10.000,00*1 See text
d°
6
""<3—£f Mar 31 *21. IX
10,000,000
65
IRON CO —ORGANIZATION.—Incorp. In N.
furnaces at South Buffalo, N. Y., leases
ROGERS-BROWN
Dec. 27 1909 and owns 4 blast
50 years ore lands In Mesaba
Payable
are
Checks mailed
50c
Apr 1 1921
6 g
stock
CORP.—(V. 112, p. 940.)
Dividends
Apr" i "1921 " 50c
7
15.000.000
100
10
Where Interest and
Places
Maturity
Apr 1 1921
Q—J
text
20.000.000
100
100
text
and
None
50.000.001 See
1,000
590 &i
1.000
LOCK)
REYNOLDS (R. J.) TOBACCO CO.—ORGANIZATION. Ac.—In¬
corporated in New Jersey Apr. 3 1899.
Manufactures plug, twist and
amoking tobacco and cigarettes.
Manufacturing plants at Winston-Salem,
N. C., Jersey City, N. J., Richmond, Va., and Louisville, Ky.; leaf tobacco
and re-ordering plants at Danville, South Boston. Martinsville, Va., Mt.
Airy, Reidsville, Roclfy Mount, Hendeison, Wilson, N. C., Lexington,
Maysville and Springfield, Ky.,
STOCK.—As of Dec. 31 1920:
Last Dividend
Date
Bonds
MISCELLANEOUS COMPANIES.
[For abbreviations,
[VOL. 112.
STOCKS AND BONDS
INDUSTRIAL
220
def
OFFICERS.—Pres., Clinton
Cornell; Sec.,
379, 568, 855, 940.)
COKE & CHEMICAL CO.—ORGANIZATION.—Incorp.
The company has erected a 500-ton blast furnace and 80
coke ovens adjacent to the Granite City plant of the
National Enameling A Stamping Co. with which it has entered into a
5-year contract to furnish its Granite City steel works up to the capacity of
the St. Louis Coke & Chemical Oo.'s plant, also the major portion of the
ST. LOUIS
In
Apr.
1917.
Roberta By-Products
Coke
by-product tar and gas produced by the coke ovens.
The American
k Chemical Co. owners of the Roberts patents, from whom the 8t. Louis
company gets its license, has agreed not to Issue any other license to
companies for the construction, operations. &c., of coke ovens under
patents within
other
its
(a circle 50 miles In diameter
tile St. Louis industrial zone
centre). V. 109, p. 781.
with Eads Bridge as
MAT, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES.
[For abbreviations, Ac.,
see
STOCKS AND
Date
Par
Amount
Rate
When
Bonds
notes on page 6.]
Value
Outstanding
%
Payable
St Louis Rocky Mt & Pac Co—Common stock $10,000,000
Preferred stock 5% non-cumulative
1st mortgage g sinking fund
Mp.xc*&r*
Santa Cecilia Sugar Corp—Com stock, 105,000 shsauth__
Preferred (a & d) stock 7% cum red 110 auth $1,000,000-_
First mortgage sinking fund bonds red 105
Col.c*
Refunding mortgage bonds redeemable 105
__xxx
Savage Arms Corp—Com auth $10,000,000
First preferred 7% cumulative authorized $500,000
Second preferred 6% non-cum conv $500.000
Saxon Motor Car Corp—Com auth 200,000 shares
Preferred 8% cumulative auth $1,500.000-.
-
$100 $10,000,000 See text
1905
1921
IX
222.200
7
6
Q—M
Q—M
Dec 15 '20
1)4
p.
100 &c
The American Coke
OFFICERS.—Chairman, Clement Studebaker, Jr.; Acting Pres., A. H.
Twombly; Sec., Paul V. Harper; Treas., Charles J. Gaie; Gen. Mgr., C. S.
Lomax.
Office, Granite City, 111.— (V. 112, p. 265.)
ST. LOUIS ROCKY MOUNTAIN
& PACIFIC CO.—Company owns
high-grade bituminous coal lands and coal rights and
mining in 344.836 acres additional, east, west and
southwest of Raton, Colfax County, N. M.
At Brilliant, Van Houten,
Koehler, Gardiner, Sug&rite and Swastika has in operation 14 electrically
In fee 206,752acres of
surface necessary for
equipped coal mines of a present producing capacity of about 10.000 tons
or
coal
dally;
in operation at Gardiner and Koehler coke ovens of
350.000 tons annual producing capacity.
▲11 of the securities of the St. Louis Rocky Mountain & Pacific Railway
previously owned were acquired in April 1915 by the Atchison Topeka &
Santa Fe for $50,000 cash and $3,000,000 50-year 4% bonds secured by a
1st M. on the road.
Of the Atch. T. & Santa Fe 4s, $2,522,000 have been
exchanged for St. L. R. M. & Pac. 1st 5s. reducing the latter by that amt..
and the remaining $478,000 substituted for
the St. L. R. M. A P. By
bonds formerly held under the lien of the 8t. L». B. M. & Pac. Oo. 1st M.
bonds.
The latter (of which the mortgage trustee still held $478,000 In
Dec. 1920) may be sold and the proceeds sold for sinking fund purposes or
also exchanged for bonds under the mortgage of 1905.
▲ supplemental mortgage has been made by this company providing that
no further bonds of 1905 shall be Issuable except not to exceed $1,000,000
(all held in treasury.
V. 105, p. 1536) to develop and improve the coal
property and increase the sinking fund to 3c. per ton of coal mined yearly.
V. 97, p. 366. 445, 803, 1824; V. 100, p. 1169, 1593, 1753; V. 105, p. 1536;
V. 109, p. 69.
STOCK.—Pref. (as to assets and dlvs.), 5% non-cnm., non-voting
$1,000,000; common, $10,000,000. Stockholders owning 90.8%. of the com¬
mon stock have established a voting trust for five years from Dec.
15 1915
with Charles 8pringer, Hugo A. Koehler, J. van Houten, Margaret M.
Dobyne and Thomas B. Harlan as voting trustees and Metropolitan Trust
Co., N. Y., depositary and transfer agent for stock trust certificates
Bankers Trust Co., N. Y., registrar.
The voting trust has not been for¬
mally renewed, but it is expected that provision will be made for extending
it.
V. 105, p. 2370; V. 95, p. 1332.
r
DIVIDENDS.—On pref., Aug. 31
200,000 sh.
$500,000
1912 to Mar. 31
1921, 5% per ann.
America,
N
Y
A&O 15 Apr 15 1925
8
Checks
mailed
do
New York and
Co's
office,
Chicago
New
York
REPORT.—For 1920 shows;
Total
Interest Fed.Tax.Ac,
Common
Balance
Pref.
Divs.
Dividends.
Sur. or Def.
$13,332 (9M)$736,060 def $631,622
$519,698 $15,740
(6) 465,780 surl,030,904
6,460,238
38,211
(6) 498,840 sur 837,435
Paid.
Earnings.
$117,769
1919-- 2,032.122
1918-. 7.859,121 $24,397
Reserve.
1920-_
OFFICERS.—Pres., W. L. Wright; V.-P., F. R. Phillips; V.-P. & Treas.,
N. Y. office, 50 Church Sc.—(V. 112, p.
A. F. Hebard; Sec.. J. H. Cook.
477, 855,
781.
of
do
187,000 sh.
None
majority of the common stock.
Bank
do
100
1,359,600
text
3ee text
100 105.000.000 See
Q-F
7
too
8 000.000
Q-J
Apr 1 1921
A
&
O Oct 15 1921-23
7 g
100 &c
50,000,000
STOCK.—The pref. stock is callable at 125.
Of the issued pref. $1,250,was subscribed for by the National Enameling & Stamping Co.
For
stock see V. 109,
Bankers Trust Oo, N Y
do
do
do
do
Columbia Trust Co, N Y
Sept 15'20
000
owns a
Aug 11927
Text
Y. Ill, p. 391.
Payable
N May 1 1931
8 8
Notes.—The Serial 1st Mtge. convertible notes mature $300,000 Dec. 31
1921 and $300,000 each June 1 1922 to 1925 incl.
Red. at 100 plus )4%
premium for each full six months' period from date of such redemption to
maturity.
In event of redemption prior to maturity of less than the total
issue, the earlier maturities shall be retired first.
The National Enameling
& Stamping Co. has contracted to purchase $1,000,000 of this issue as an
Investment and $500,*000 are held in the treasury of the company.
Con¬
vertible on the basis of four shares of Pref. and one share of Common stock
are
See text
See text
Text
None
Where Interest and
Dividends
15
7,748.000
None
1920
the disposition of the com.
&
'21
'21
July 1 1955
100
Seneca Copper Corp—Stock
5-year conv debenture bonds red 110 $500,000 (see text)_c*
& Chemical
M
Mar 31
Mar 31
850,000
1920
value of notes.
Q—M
Places
Maturity
100
100
xxxc*
Serial gold notes $50,000,000 due ann (see text)
and
Q—M
1.000,000 5 in 1920
J
&
J
Ac
5g
4.682,000
text
Text
None 105,000 shs See
Text
text
100
850,000 See
F
&
A
6 g
500,000
1,000
1917
231
Last Dividend
1.000
Sears, Roebuck & Co—Common stock
Preferred stock (a & d) 7% cumulative (text'.
for each $400 par
BONDS
1524.)
SAXON
MOTOR CAR CORP.—A reorganization,
Corp., incorporated in 1915.
of Nov. 5 1919,
In June 1917 the
as
of the Saxon Motor Oar
company found itself unable to meet its current obligations and a meeting
of creditors was called and a creditors' advisory committee of six was organ¬
ized to protect
the creditors' interest.
Since that time the company, under
supervision of the advisory committee, continued liquidation of its indebted¬
ness and effected sale of its interest in the new plant, which permitted a
still further liquidation of indebtedness and made possible the working out
of the reorganization of the company.
REORGANIZATION
PLAN.—The plan provided
as
follows: (1)
An
Increase in the common stock from 60,000 shares of $100 par value to 200,000
shares of no par value, and the creation of $1,500,000 8% cumulative pref,
stock; (2) creditors to accept in payment of balance of indebtedness 20%
cash and 80% pref. stock; (3) stockholders to receive one share of no par
value common in exchange for one share of $100 par value common;
(4)
120,000 shares new common to be sold through an underwriting syndi¬
cate, the remaining 20,000 shares to be reserved for general corporate usee.
Stockholders were given the privilege of purchasing from the underwriting
syndicate two shares of the no par stock for each one owned. V
109, p.1799.
CAPITAL STOCK.—See reorganization plan, above.
Preferred stock Is
105 and accrued dividends.
Sinking fund of 15% of net
redeemable at
profits commences in 1923.
EARNINGS.—Income and
expenses in liquidation, 10 months ended
1919: Sales Income, $3,464,493; cost of sales, $3,558,444; other In¬
$73,320: other expenses. $21,869; net operating loss, $42,500; Interest
deferred obligations, $99,657: liquidation loss, $142,157.
Balance sheet
Dec. 31 1920, V. 112, p. 940.
1
Oct. 81
come
OFFICERS.—Pres.. O. A. Pfeffer; V.-P. & Gen. Mgr., H. L. Bill;
Treas., M. W. Tilden; Sec., D. C. Bayne.
DIRECTORS.—C. A. Pfeffer, H. L. Bill, D. O. Bayne, B. F. Everitt,
Geo. Edmunds, Detroit; M. W. Tilden, W. G. Souders, Chicago; B. S.
Armstrong, Cincinnati. Main office, 917 Beaufait St., Detroit.—(V. 112,
p.
940.)
SCHULTE RETAIL STORES CORP.—(V. Ill, p. 500, 596. 699, 2332.)
SCRIPPS-BOOTH
1046. 1123: V. 104.
p.
CORP., N. Y. (AUTOMOBILES).—(V. 103.
1391; V. 105. p. 915, 1110 1715. 2370 2461.)
p,
SEARS, ROEBUCK & CO.—ORGANIZATION.—Incorp. In 1906 in
New York as successor to an Illinois corporation of the same name which
had theretdfore transacted the same business for over ten years.
Business
of all classes of merchandise direct to the consumer through
catalogues; has over 8,000,000 customers.
Business is transacted mainly
from Chicago, with important branches in Dallas, Seattle and Philadelphia.
is the retailing
quar.
In Dec. 1918 paid 2% quar.
April 1919 to Mar. 31 1921,1% quar.
REPORT.—For year 1920:
Other
Interest. Dividends Balance.
Year—
Earnings.
Taxes).
Income. Dept.,Ac.
Paid.
Surplus.
1920_ —-.-$5,147,636
$1,335,249 $146,762 $654,612 $450,000 $377,399
1919
3,837,353
949.298
86,073
454,939
450,000
130,431
1918
4,944,891
al,528,370
112,696
729,174
650,000
261,892
1917
3,783,643
923,613
162,408
372,906
350,000
363,115
Dec. 31.
Net (after
Oross
Pres., J. Van Houton; Treas., Chas. Springer; Sec. & Aud., A. H.
Office, Raton, New Mex.—(V. 109, p. 69.)
Owns and operates sugar
CAPITAL STOCK.—See table at head of page.
DIVS.—On
($100 par);
par value).
1920.
Feb.
cnmmon
stock
as
follows:
Nov. 1 1919 and Feb. I 1920 1 H%
May 1 1920 to Nov. 1 1920 paid quar. 25 cents per share (no
Feb. 1921 div. omitted.
Pref. divs. regularly paid to Nov.
1921 div. omitted.
1st mtge. 6s are a first lien on all of the property now
acquired. A sinking fund is provided of 20% of net
earnings but in any event not less than $25,000 or more than $75,000 for
purchase of bonds at not exceeding 105 and int.
Auth. and Issued, $750,000; retired by sinking fund, $250,000; outstanding, $500,000.
The stockholders on April 29 1921 authorized the issuance of $1,200,000
Ref. Mtge.
10-Year 8% bonds, of which $850,000 were offered to stock¬
holders at 87)4 and int.
For full particulars see V. 112, p. 1747, 1625.
BONDS.—The
owned
or
hereafter
REPORT.—For year
ended July 31 1920, in V. Ill, p. 2322, showed:
$1,640,688; oper. exp., $1,299,510; int., deprec., taxes, &c.,
surplus after pref. & com. divs., $8,028.
Gross rev.,
$177,401;
M.
OFFICERS.—Pres.
H.
Lewis;
V. Pres.,
C. B.
Treas., R. L. Dean; Asst. Sec. & Asst. Treas., Robt.
Office, 44 Whitehall St.—V. 112, p. 1984.
Goodrich;
Sec. &
H. Caplan.
N. Y.
guns, pistols,
ammunition and roller bearings, automobile truck axles,
frames, automobile forgings, such as crank shafts,
axles, cam shafts, connecting rods, &c.
Plants located at Utica, N. Y.,
and Sharon, Pa.
Present name adopted May 1917 on merger of properties.
V. 104, p. 2014; V. 105, p. 1715; V. 106, p. 196; V. 107, p. 1673
2194;
V. 108, p. 982.
Peace conditions, V. 108, p. 84. 177.
truck and pleasure car
issued, $500,000, all
$260,700, of which $38,500 held
which $1,491.300 held in treas y.
CAPITAL STOCK.—(As of Dec. 31 1920) 1st pref.,
DIVIDENDS.—On common:
In
1916, Mar.
15, 2H%I
June
15. 5%
then none till June 15 1917 to Sept. 15 1920. 6% p. a. U#%TQ--M.).
Jan. 15 and Apr. 30 1920 extra divs. of 5% each were paid. V. 110, p.
Preferred
dividend
dividends
on
were
common
*
paid regularly to
stock was
omitted.
Dec. 1920.
V.
Ill, p.
STOCK.—Preferred stock cannot be Increased or mortgage (other than
each class of stock.
t^doBincdi 2tt# 125
On
472.
The Dec. 1920
1758.
y
created without the vote of three-fourths of
Entire -preferred stock or pro rata portion may be
p»
1246
In Nov. 1909 $750,000 pref. stock was canceled, $2,000,000 in all (original
Issue $10,000,000) having been retired.
V. 89, p. 925, 1286; V. 90, p. 714.
The shareholders voted June 1 1920 to Increase the auth. common stock
with the plan announced
by the board on April 20, for paying a stock dividend of 40% in common
stock on July 15 to common shareholders of record June 15.
This payment
increased the outstanding common stock to $105,000,000.
Serial Notes.—The $50,000,000 serial gold notes are due $16,500,000
each Oct. 15 1921 and 1922, and $17,000,000 Oct. 15 1923.
Two and threeyear notes red. all or parton 60 days'notice on Oct. 151921, orany int. date
thereafter at a premium of 1 % for the two-year notes whenever redeemed
and for the three-year notes of 2% if redeemed on Oct. 15 1921, of 1)4%
if redeemed on April 15 1922, and of 1 % if redeemed thereafter.
The trust
agreement requires thelmaintaining of quick assets equal to at least 1)4
times all liabilities including these notes, and provides that no mortgage or
other lien, except purchase money mortgages, may be placed upon any of
the assets.
V. Ill, p. 157~
DIVIDENDS.—Pref., 1^% quar., paid Oct. 1906 to Apr. 1921, both
Inclusive.
On com., 1909, 4)4%; 1910 to Feb. 1917, 7%
(1 %% Q.-F.)
May 17 to Nov. 1920, 2% quar.
The Feb. 1921 div. (2%) was paid in
6% scrip due Aug. 15 1922.
V. 112, p. 265.
May 1921 div. was omitted.
V. 112, p. 1406.
Also April 1 1911 a 33 1-3% stock dividend.
V. 92, d.
601.
A stock div. of 50% was paid April 1 1915.
V. 100, p. 479.
In
April 1917 paid a stock div. of 25%.
V. 104, p. 368, 868,1050. On July 15
1920 paid a stock dividend of 40%.
SALES.—
ARMS CORPORATION —ORGANIZATION.—Incorp. in
Del. on Aug. 16 1915 ae Drlggs-Seabury Ordnance Corp.. and purchased the
assets of the Driggs-8eabury Co., and in Dec. 1915 the Savage Arms Co.
of Utlca, N. Y.
Acquired, as of Apr. 1 1920, the J. Stephens Arms Co. of
Chicopee Falls, Mass., through purchase of the stock from the Westinghouse Elec. & Mfg. Co.
Manufactures the Lewis machine gun, rifles, shot¬
SAVAGE
of which held in treasury; 2d pref.. Issued,
in treasury; common, issued, $9,239,300, of
April 1921, V. 112, p. 1625.
purchase money mortgage
from $75,000,000 to $105,000,000, in connection
CORP.—Organ. In Del., July 16 1917.
estates and a sugar factory on the Island of Cuba.
SUGAR
CECILIA
SANTA
Officer.
The company maintains and owns warerooms, warehouses and various
factories in a number of other cities throughout the country.
Status in
1920.
1921.
<
$16,375,290
Four months
$21,824,141
66,082,259
April
106,995,130
1920, in V. 112, p. 465, showed:
Common
Fea. Inc.. Balance,
Dividends
Ac..Tax.
Surplus.
$
$
$
$
$
$
1920.245,373,418 11,746,674 559,188 (8%)7,198.028
------3,989,458
1919.234,242,337 23.760,602 559,188 (8%)5,999,524 4,870,377 12.331,413
1918.181,896,426 22,185,010 559,188 (8%)5,999,246 9,480.946
6,145,630
REPORT.—For year ending Dec. 31
Total
Net
Pf. iHv.
Cat.
Year.
Income.
Profits.
(7%).
V.-P. & Treas., Albert H. Loeb;
265, 465, 568. 752, 940, 1031, 1406.
OFFICERS.—Pres., Julius Roeenwald;
Sec., John Higgins.—(V. 112, p. 67,
1524, 1625. 1984.)
SENECA COPPER CORP.—Incorp. in
N. Y. Dec. 27 1916.
Property
and consists of 1,864.6 acres owned
for the purchase from Calu¬
met & Hecla Mining Co. of 79,500 of the 100.000 outstanding shares of
capital stock of Gratiot Mining Co. and has received the due transfer of
such shares.
Balance of payments due Calumet & Hecla is as follows:
Dec. 1 1921. $15,000; Dec 1 1922, $15,000; Dec. 1 1923. $50,000; Dec. 1
1924 ,$360,000.
When payments are completed, the Calumet & Hecla
is located in Keweenaw County, Mich.,
In fee.
In Oct. 1919 entered into an agreement
STOCKS
INDUSTRIAL
322
Par
Amount
Rate
When
Value
Outstand ing
%
Payable
Shaffer Oil & Refining —Common stock 500,000
Pref stock 7% cumul & partic $50,000,000
Places
Dividend
Last
Date
Bonds
COM PA NIES
MISCELLA NEO US
[For abbreviations. Ac., see notes on first pace]
[Vol. 112.
AND BONDS
Where Intere: t and
Dividends
and Maturity
Payable
are
None
200,000 sh
$100 $11,000,000
10,602.300
1,602,600
100 &c
10
3.500.000
shs
call -_CoCkxxxc*&r*
Secured Convertible sinking fund notes call text
xxxc*
Shattuck Arizona Copper Co—Stock
Shawinigan Water & Power Co—Stock $20,000,000--—
1st Consol M (closed) call 110 sink fund 1%
c*
First & Ref M SK. fd $50,000,000 g Ser A
do
do
Ser C callable (see text)
c*
Secured convertible notes call, text
Gxxxc*
Shell Transport & Trading—Common stock £20,000,000-Preferred shares 5% cum £3,000,000—
1st M Conv s f (guar) $15,000,000 g
1920
100
1904
100 &c
1921
500 &c
1920
J
Jan
500 &c
See text
Jan
&
_
and New York
20. 2H
N Y, London & Montreal
1934
1
do
do
Jan. 1 1950
&
New York or Montreal
&
r
&
N, Y, & Montreal
July 1 1926
Jan 27 '21 72.2c
A
5
July 1 1950
&
text
£2,000,000
£1
£10
20
April 1921 1H
Q—J
r
Chicago
D June 11923
&
text
e
N Y & Chicago
J
%e
7 g
20,000,000 7 in 1920
3 821,500
5 g
6,000,000
5*
t2,500,000
4,000,000
7H g
500 &c
1919
Q—J 25 Apr 25 *21 1H
&
D June 1 1929
7
100 &c
1919
O
$ $1,878,000 in treasury.
agrees to
assign to this company the indebtedness of
Gratiot to C. & H.
in the sum of $570,000.
CAPITAL STOCK,—The stockholders were to vote June 7 1921 on
Increasing the authorized capital stock from 250,000 shares to 350,000 shares.
V. 112, p. 2199.
No dividends had been paid up to May 1921, the cornpan
still being in the development stage,
DEBENTURES.—The 8% convertible debentures are convertible on
15 1922 (or earlier if authorized and allowed by law into
stock at the rate of 5 shares of stock for each $100 debenture bond.
and after Apr.
In 1898
333,700
Serves
with its 800 miles of 100,000 and 50,000-volt transmission lines Montreal,
Quebec, Three Rivers, Sherbrooke, Thetford Mines and 40 smaller cities and
towns in the Province of Quebec.
Has also developed a large demand for
SHAWINIGAN WATER & POWER CO.—{See Map.)—Incorp
Quebec.
Owns hvdro-electrie plants, with present capacity of
b.p. at Shawinigan Falls and at the Laurentide Power Co., Ltd.
In
aurentide Power Co., Ltd.
Eower among the industrial plants adjacent to its Auxiliary companies, with
property. Contract, &c.,
V. 103, p. 1035.
V.
V. P. & Treas., Walter Lewis"
Office, 11 Broadway, New York.—V. 112-
OFFICERS.—Pres., J. Parke Cbanning;
Sec.. E.lJ.LMacnamara.
ohn:
p.
477,2199.
SHAFFER OIL
REFINING CO.—ORGANIZATION.—Incorp. in
oil interest of C. B. Shaffer and associates. Con¬
of a majority of the common stock (which has
&
Del. in 1919 to acquire the
trolled through ownership
The properties comprise
oil wells of approxi¬
producing gas wells,
also 200,878 acres of undeveloped oil lands in Oklahoma, Kansas, Louisiana,
Montana, Texas and Arkansas.
The pipelines comprise 150 miles of gather¬
ing lines and 52 miles of main pipe lines connecting the production in Okla¬
homa with the company's modern refinery of about 6,000 barrels daily
capacity, 27 steel storage tanks; total storage capacity 1,575,000 barrels,
and 633 modern steel tank cars, also 6 casinghead gasoline plants which
extract gasoline from the gas produced bv the company's wells.
The re¬
fined products are marketed through the company's own organization and
sole
voting power) by
Standard Gas & Elec. Co.
8,284 acres in proven oil territory with 461 producing
mately 3,000 barrels average daily production and 19
that of
an
allied concern through 173 distributing stations located in
164
towns in ten States.
110,000 shares
which is deposited as
STOCK.—The Standard Gas & Electric Co. in 1920 owned
of the common stock and $1,000,000 of the pref. stock,
part collateral for Standard Gas & El. 7% notes of 1919.
In March 1921
ft was announced that the Standard G. & E. Co. had acquired the stock and
other interests theretofore owned by C. B. Shaffer, J. K. D. Shaffer and
E. E. Smathers and that the Shaffer interests had severed their connection
V. 112, p. 1290.
The pref. stock is entitled to cumu¬
dividends at the rate of 7%
per annum and will participate
ratably with the common stock up to 10% p. a.
In addition, will partici¬
with the company.
lative
pate at the rate of M of 1 % for each dollar paid on the common stock in
excess of $10 per share during any one fiscal year. Y. 108. p. 2246 , 2636.
DIVIDENDS.—An initial dividend otl%% was paid on the pref. stock
1921 paid \%% quar.
Oct. 25 1919; then to April
BONDS.—(V. 108, p. 2246) Auth., $15,000,000; additional bonds may
be issued for 75% of additions, betterments, &c., under
restrictions.
Guaranteed, p., i..& s. f., by Standard
carefully guarded
Gas & Elec. Co.
Callable in whole or in part for the sink, fund on 4 weeks' notioe at 103 and
Int. for the first five years, 102H and int. for the following 2H years, and
thereafter at 102 and int.
Convertible at par Into participating pref. 7%
cum. stock at 105.
Issued in conjunction with $11,000,000 pref. stock to
acquire C. B. 8haffer oil interests, &c.
Sink, fund payable semi-ann. to
the trustee equal to the following percentages on $12,(KM),000 bonds, and
these will retire not less than $11,280,000 before maturity: Dec. 1 1919 to
June 1 1921. 4% s.-a.; Dec. 1 1921 to June 1 1923, 4)4% s.-a.; Dec. 1 1923
to June 1 1925, 5% s.-a.; Dec. 1 1925 to June 1 1927, 5H% s.-a.; Dec. 1
1927 to Dec. 1 1928, 6% s.-a.
Any further issues of these bonds will be
retireable in a similar manner.
ADbonds purchased or redeemed will be
canceled.
Auth., $15,000,000; outstanding, $10,602,300; retired by sinking
fund, $1,893,300; pledged to secure 7% notes, $2,403,900; in treasury
unpledged, $100,500.
Conv.
of June 1
I9<s' (are convertible at par into
1st M.
6% Sinking Fund Gold Bonds, due June 1 1929 (see above), $2,-
Notes.—The notes
403,900 or which are pledged as security for this issue.
accompanied by a negotiable warrant entitling holder to purchaselCommon
1923,
The
callable, all or part, at 101H and int. during the first year, at
101 and int. during the second year, and thereafter at 100 H and int.
Semi¬
annual sinking fund payments commencing Dec. 1 1920, at 8%, and in¬
creasing to 12% on the face value of this $2,000,000 issue, will provide
$1,000,000 cash for retirement of notes of this Issue before maturity.
To
provide this cash, pledged bonds may be tendered to or retired by the bond
sinking fund.
Auth., $2,000,000; outstanding, $1,602,600; retired by sink¬
ing fund, $176,500; converted. $220,900.
V. 110, p. 2494.
EARNINGS.—Earnings for the 12 months eDrtir.-*
u 31 1920 were
as follows: Gross earnings, $10,005,118;
operating expenses, $6,452,203; net
notes are
$7*4,452; prer. divs., $577,500; bal.,
$2,200,963.
Gross earnings for the year ending July 31 1920 were
$11,187,651; net income after deduc. for Fed'l taxes amounted to $4,084,019
Pres.. George N. Moore.—(V. 112, p. 168, 1290, 1625.)
^
earnings, $3,552,915; interest charges,
sur.,
SHARON STEEL HOOP CO.—(V. 112, p. 1625, 2091.)
SHATTUCK-ARIZONA COPPER
CO.—ORGANIZATION.—Incor¬
porated March 22 1904 in Minnesota.
Properties (owned in fee) comprise
109 acres in Cochise County. Ariz.
Flotation license, V. 105, p. 1215.
CAPITALIZATION.—Authorized
$10.
and
outstanding,
'12.
*13.
*14.
*15.
*16.
'17.
—
—
Gross income
__
$1,582,923
Expenses, &c
1,609,871
F6u6rdil td>\6s
Depletion & depreciation
212,167
Dividends
x
$1,069,698
x*,0el,591\
x
par,
October,
was
1918.
$2,668,082
1,883.424
,20u
text
$3,652,156
2,174,656
*$194,033
$101,141
1920.
* Deficit.
or
Silver (os.)
Gold (os)
790,149
770,736
6,869,382
2,905,758
39,254
436.56
2,026
336,807
1,614,669
84,457
suspended early in Nov. 1920.
5.48
4,102.74
227.84
OFFICERS.—Pres., Thomas Bardon; V.-Pres., H. L. Mundy; V.-P. &
Sec., Norman E. La Mond; Treas., A.
way,
M. Chisholm.
Offices, 120 Broad¬
N. Y., and Bisbee, Ariz.—(V. 112, p. 168, 940, 1984.)
around, and therefore
a
DIVIDENDS.—J'07. '08. *09. *10. '11. '12. '13. *14. '15. 16. to Apr .'21
1 2
4
4
4
5
5HQ
6
814
7 (l^quar.)
Percent
5s ($5,000,000), all issued but $1,175,500
fund (V. 79. p. 274.)
& Ref. Mtge. bonds of 1919 may be issued in series
with different interest rates not exceeding 6% and maturities not later than
Jan. 1974, for the following purposes (V. 109, p. 584):
(a) Series A 514%
chiefly to refund forthwith
$5,476,261
Perpetual Consol. Debenture
stock, $6,000,000; (6) To retire 1st M. bonds of 1904 at or before maturity,
$5,500,000; (c) Issuable for capital expenditures provided all of the $4,500,0O0 convertible notes shall have been converted into stock or paid from pro¬
ceeds of these bonds, $8,500,000; (d) Reserved for 80% of future additions,
&c., $30,000,000.
A sinking fund of 1% per annum (first payment Dec. 31
1922) on all oytstanding 1st ref. mtge. bonds will be used to retire bonds by
purchase at not exceeding the calling prices, or by call if not so purchasable.
The Series A bonds are redeemable at a premium of 10% prior to Jan. 1 1930;
5% thereafter and prior to Jan. 1 1940; and 3% thereafter and prior to
Jan. 1 1950.
Series B 6% bonds ($5,334,000) are pledged as security for the
convertible notes.
The $2,500,000 Series C bonds dated Jan. 1 1921 are
BONDS,
&c.—First consol.
In treasury and sinking
The $50,000,000 First
callable all
or
part after July 1 1926, or at any time for the sinking fund,
during the first 14 years, 104 during the next 5 years, 103 during the
years, 102 during the next 3 years and 101 thereafter; plus int.
V. 112, p. 940.
The secured convertible notes of 1920 are convertible between July 1 1921
and July 1 1925, incl,, into First Ref, Mtge, Sink, Fund gold bonds of
Series B, 6% maturing July 1 1950, at a price to yield 614 % (computed from
the nearest int. date of the bonds) with a cash adjustment of int, and disc,
Callable all or part out of any sinking fund moneys received from call of the
collateral at 105 during 1921, 104 during 1922, 103 during 1923, 102 during
at 105
next
5
1924 and 101 thereafter,
plus int,
The notes are secured by pledge of $5,334,000 of the pompany's first
refunding mortgage 6% s. f. gold bonds, Series B.
V. 110, p. 2663.
STOCKS OWNED.—Also controls various sub. mfg. and
REPORT.—For cal. year 1920, in
Calendar Years—
1920.
Gross earns,
Net
Reserve
—
p.
1919.
$3,621,074
$2,902,210
$2,335,053$
2,149,368
824,959
698,503
100,000
100,000
1,077,527
1,050,000
657,114
300,000
1,400,000
distributing cos.
1138, 1157, showed;
1918.
1917.
$3,727,045
$2,430,857
(allsources) $3,943,359
$2,525,544
716,501
for depreciation
200,000
earnings.
Interest charges
Dividends
V. 112,
1,240.902
Balance, surplus
$209,043
$232,841
$332,567
$300,864
Chairman, Thos. McDougall; Pres., J. E. Aldred; V.-Ps., Howard Mur¬
and Julian C. Smith; Treas., W. S. Hart; Sec., James Wilson.
Office,
ray
Power
Bldg., Montreal.—(V. 112,
SHELL
TRANSPORT
corporated in London in 1897
and
some
p.
855, 940, 1138, 1157.)
TRADING
&
CO.—ORGANIZATION.—in¬
as successor
of M. Samuel & Co. in London
other important oil houses; wholesalers,
porters of petroleum products, owning a large
distributors and trans¬
number of tank steamers and
40 large and more than 300 small tank installations, including can
&c., in all parts of the world, with
Also
a
total capacity of about
factories,
400,000 tons.
produced oil itself in Borneo, through the Nederlandsch-Indische In¬
dustrie
en
Handel Maatschappij, owning the whole share capital,
originally
FL 2,000,000, since increased to Fl. 20,000,000.
Amalgamation with Royal Dutch Co., Ac.—In 1902, in conjunction with
the Royal Dutch Co. (see statement above) and the de Rothschild (Paris)
group, organized the Asiatic Petroleum Co. as a distributing concern.
Early In 1907 the company amalgamated its interests with those of the
"Royal Dutch."
The combined assets of both were turned over to two
new companies, the "Bataafsche Petroleum Co." and the "Anglo-Saxon
Petroleum Co."
The "Bataafsche" does the producing, the "Anglo-Saxon"
the transportation and the distribution business.
The "Shell" holds 40%
of these two concerns, the "Royal Dutch" 60%. V. 109, p. 377; V. 107,
p. 1381; V. 108, p. p. 2636; V. 103. p. 2243.)
CAPITAL.—Authorized,
£20,000,000 ordinary stock (increased from
£15,000,000 in April 1919) and £3,000,000 5% cum. pref. stock; outstand¬
ing,
(Nov.
1920)
ordinary, £19,053,906, pref,, £2,000,000,
The pref,
shares have no voting power unless their dividend Is affected or in arrears.
In July 1919 277,000 of a total of 375,000 "American shares" were offered
by Kuhn, Loeb & Co, at $69 a share, each "American share" being equal to
two "English shares' of £1 par value (V. 109, p, 377),
The company in
July 1920 Issued new ordinary shares at par to the shareholders in the
proportion of one new share for every two held,
1917.
Lead {lbs.)
206,772
157,386
2,368,085
1920
1919
10 Months, 192010 Months, 1919-Note.—Production
*19.
10
23^
164,606
541,191
763,859
(7^)262,500(12^)437500(17^)612500
Copper {lbs.)
October,
10
10
x
Balance,surplus
*$239,115
*$448,999
No allowance is made for Federal taxes in 1919
Production—
'18.
20
30
10
0
15
15
20
20
do
extra
5
27H
In Jan. 1920,'2^%; Apr. 1920, div. passed.
Calendar Years—
1920
1919.
Per cent
x
$3.50U,000;
No bonds or preferred stock.
DIVIDENDS—*11.
Province of Quebec, it is
flow of water the year
dependable source of power for all manufacturers
in the district served by power lines of the Shawinigan system.
The
Government of the Province, It is reported, has taken special pains to make
the Province attractive to the manufacturer by moderate taxes and fair,
iberal treatment.
Compare V
106, p. 938.
stated, assures.the company for the future a steady
Each note will be
stock (no par value), in even share lots, at any time prior to June 1
on the basis of 15 shares for each $1,000 note, or $66 2-3 per share.
106. p. 303.
The completion of the La Loutre dam by the
common
ORDINARY
(1908.
1909.
V, 110, p, 2663* V, 111
1913 to 1919.
1920-21.
20%
30%
35% yearly.
text
share In Feb.
1920; $1,965 per
share in Aug. 1920, and 72.2 cents per share in Jan. 1921.
The company pays Its dividends free of tbe British income tax, a
pre¬
liminary dividend every year in January, and its final dividend—dependent
upon earnings—in July thereafter.
1910.
DIVIDENDS) 20% 2214% 2214%
On "American shares" paid 74c,
1911.
1912.
per
Valuable Subscription Rights—Amount and Price of New Stock
—y,
1^09.
w
1912.
1913.
1917.
Offered Holders,
1919.
No. shares-.300,000 200,000 508,773 367.964 915,717 4,054,490
Price
£1H
£2X
£3X
£314
£1
d
1920.
6,408,925
£1
In 1918 the company distributed a stock bonus of 60% by issuing to
shareholders 3,014.921 shares gratuitously,
applying in payment thereof
£3,014.921 of the company's surolus of £4,000,000.
Holders of shares of
the Shell Company of record on June 17 1919
were offered the right to sub¬
(£1) for one new share for every two held.
In July 1920
ordinary shares at par (£1) to stockholders in ratio of one new
share for every two held.
scribe
at
issued
new
par
GREAT STORAGE
SnOWIXG
MAP
w. OF SHAWIN
DAM
IGAN\FALLS
Chateau
^/Montraag:
Kichterj
DAMj)DES AjtfBEsW
NOJRE
OP
TRANSMISSION LINES
St.Pierre
StValier
;eney
COMPANY
THE SHAWINIGAN WATER & POWER
\
L^<y
/
;
AND
ST.
LAWRENCE
■mSt.Thecle/ \1
TRANSMISSION
V
/
/
/
INDUSTRIAL CO.
CIVIC INVESTMENT &
% J/Hervey Jc.iXj'
%
/
/
AND
/
GRANDMEREvM^
bt.S
/
f LA U RENTIDE
SHAWINIGAN
W ATE R-&.-.POW
£ R
■
Water &
St.Antoirie
'
POWER
COMPANY)^
St.Nicholas
;
St.Crcix
ApoiliDau-e,
ISHAWINIGAN FALL Si^/^Aarcisse|
LINES
FA
-
/TBaUseapi M
LEGEND
The Shawinigan
St.Gervais
Graudes Piles^
/Chainplaii^r
-
Cliaillmis
/
St.MarieK^-\
35SSS5SS
Power Co.
Civic Investment & Industrial Co, (Transmission Lines)
• •
Co. of America)
■
*■
«
OCTREE RIVERS/
Doucfet'Landing
Mill
/
St.Gabriel
St.Lawrence Transmission Co. (Aluminum
St.Maglolre/o
Ste.Henedine
Jean des
/
BROU,G HTON
© PLESSISVILLE "A
———
SfrNorbert
^eitbiei
St.Sylvestre
St. Joseph
.c
St. Francis
"*V Gilbert
OVICTfcRIAVILLE
>IERREVILL
f*SoreT
St.Agatlie
WARWICK
o
Divuni mondville
Garthby
St.Jerome
Weed on
St.Cecile0
/O*
St.Hyacinthe
Bouchervi'lle
Megantu\
MONTREAL
miles
OTTAWA
_JJudstm"-x^
v
Vau (he;
oGx-anby
,Waterloo
E DA RS RAPID
LeunoxviUe
Foster^
/jbervillo
Cuwans\1Ue\
Sweetsburg*
Carleton
00
MILES
Coatieook
Sutton Jc.
Huntingdon
^kPI i i I ipsbll ig
Kempton-
Kichford'
West Derby
"Smiths Falls
MASSENA
MhIoihj
fit ilea u
miles.
O NORWOOD
Lakes
iBttrtou]
Plftttrimrg
FLACKVILLE
EUVELTON,
\\tf|iHANNAWA FALLS
^/CANTON
CHAN PL Alt
Cambridge
/i^COLTON
crary^mTlls \
Morrisyille
Titirlingtou
a
iBerliu
Hard wick,
miles
yjT RICHVILLE
GOUVERNEUR
Mai's field
MON rp"E~bl EI
.
MISCELLANEOUS COMPANIES.
V
[For abbreviations,
&c.,
see notes on
page
Date
Par
Amount
Rate
When
Last Dividend
Bonds
6.1
Value
Outstanding
%
Payable
4,049,570 sh.
Text
None
red text.xxxc*
Ac $47,504,000
$100
1920
Solar Refining Co—Stock $2,000,000
South Penn Oil Co—Stock $20,000,000
V'':
100
7H
100
100
1,000
1919
100
—
100
-
,
1916.
1919,
1918.
1917,
.£4,762,724 £2,893,603 £2,774,631 £1 ,705,844
47,948
40.702
49,354
40,659
Expenses, etc,
98,798
95,870
Interest on loans...
100,000
100,000
100,000
100,000
Pref, divldned—
....
,429,016
1,749,411
4,507,625
2,813.927
Ord, dividend
...—.
35%
35%
do, rate
e
.
..35.%
:
Reserve, etc,
for year..
bal. forward
sur,
—
.
.
105,745 defl03,155
1.242,622
1,136,877
788",648
30",082
1,239,032
450,384
—(V. 112, p. 168, 379.)
SIMMS MAGNETO CO.
1919.—(V. 112, p. 1031.)
SINCLAIR
-Listed
CONSOLIDATED
on
Boston Stock Exchange in Nov.
OIL
CORPORATION.—ORGANI¬
in New York Sept. 23 1919 as a holding company.
Consolidation of Sinclair Oil A Refining Corp., Sinclair Gulf Corp. (see
statements in April 1919 issue) and Sinclair Consolidated Oil Corp., under
a consolidation agreement ratified by the stockholders of each company on
ZATION .—Incorp.
Sept. 22 1919 (V. 109, p. 1279).
PROPERTIES.—(1) Crudt Oil and Oas Interests.—Through subsidiaries
(a) Sinclair Oil A Gas Co., Exchange Oil Co.. Sinclair Oil Co. of Louisiana,
Sinclair Consolidated Oil & Gas Co. and Sinclair Gulf Oil
Co.. is en¬
gaged in the production of crude petroleum in Kansas,Oklahoma and Texas.
Has more than 90% interest in about 500.000 acres of oil and gas leases in
principal oil fields of Kansas, Oklahoma, Texas, Wyoming ana Louisiana.
Also owns about 150,000 acres of oil
200,000 barrels
acres
Has
in
an
interest in Mexican Seaboard Oil Co., owning about 160,000
In Costa Rica has'concession of 9,000,000 acres of
Mexico.
possible oil lands and in Panama about 10,000,000 acres.
Also has an
Companlia de Petroleo de Angola, having a concession on about
75,600 sq. miles in Angola, Africa.
During 1920 acquired a large interest
in the Compagnie Industrielle des Petroles of France, and purchased the
petroleum business and plant of Sudan Freres, Ghent, Belgium.
The Sin¬
clair Crude Oil Purchasing Co. was incorp. Feb. 5 1921 in Del. with an auth.
capital of $20,000,000.
interest in
(2) Pipe Line Transportation,—Consists of about 2,800 miles of trunk and
gathering pipe lines, extending from producing fields in Northern Texas,
A half interest in the pipe lines was
sold to the Standard Oil Co. of Indiana early in 1921.
V. 112, p. 660.
Oklahoma and Kansas to refineries.
(3) Refineries.—Owns 10 oil refineries with a capacity In excess of 45,000
barrels daily, located at East Chicago, Kansas City, Chanute, Goffeyville,
Vinita, Muskogee, Cushing, Houston, New Orleans and Wellsville, N. Y.
Also has compounding plants in Chicago and Philadelphia for manufacture
of lubricating oils and casinghead gasoline plants with a capacity of over
50,000 gallons of gasolene daily.
(4)
(5)
Tank Cars.—Owns 5,234 steel tankers.
Coal Fields.—Owns 12,000 acres of coal lands in southern Illinois.
than 400 service and tank stations and
a number of important western States.
Rhode Island. New York, Phila¬
delphia, Jacksonville, New Orleans and in Cuba.
(6)
text
90,000.000 See
10,000,000 See text
6,700.000 7 in 1920
1925
New York
Sec text
Q—M
Feb 10 21,1)4% Central Union Co,
do
Apr 1 1921 1*4
New York
F
A
A Aug 1 1929
5,700,000
6g
2,000.000 See
text J
A| D June 20 '20 5% Checks mailed
Mar 311921 4% Pittsburgh, Pa
20,000,000 See text
Q—M
Q—J
YN
do
O
Distribution.—Has
more
facilities for direct distribution in
Also has large bulk oil terminal facilities in
(7) Marine Equipment.—Owns and controls 177,000 d. w. tons of
equipment, of which a considerable proportion is exclusively owned.
marine
(8) Miscellaneous.—Through its exporting subsidiary conducts a large
export business in petroleum products and also owns a one-half interest In
the Sinclair Compagnie Franco Americaine de Combustibles Liquides. Owns
a modern office building of 32 stories in New York City and several smaller
buildings in other cities.
For amended plan of International Petroleum Co. of Maine), whereby
the successor company, Mexican Seaboard Oil Co., was incorporated and
the contract under the plan with the Sinclair Consol. Oil Corp. and Ogden
Mills under which they agree severally but not jointly to buy $11,500,000
debentures and 287,500 stock (v. t. c.) of the new company.
See V. 109,
p. 1465, 1530.
New Subsidiary.—A new subsidiary, the Sinclair Wyoming Oil
chartered in Dec. 1919, with a capital of $5,000,000, all owned, it
stood, by the parent
Calendar Years—
Net
earnings
1392, showed:
1920.
1919.
1918.
1917.
.,...$35,580,415 $22,670,898 $19,640,717 $15,134,967
,
—
.
daily.
Payabe
REPORT.—For 1920 in V. 112, p.
REPORT,—For 1919 In V. 111.p. 690.
P. A L.
are
'''-V V- :v"
Calendar Years—
Profits
Bal,
Where Inerest and
Dividends
See text
MAN15 May 15
Equipment trusts, Ac.—see text.
Singer 'Sewing Machine) Manufacturing—Stock $90,000,000
Sloss-Sheffield Steel & Iron—Common stock $ 10,0<>0.000..
Preferred
fa A d) 7% non-cum *10.000 000
Sink fd gold notes $0,000,000 call 105 s f_Ce.ww.c*Ar*
Places
and Maturity
Sinclair Consolidated Oil—Stock .5,500,000 shares.—
New preferred stock—See text
Secured convertible notes $75,000,000 auth
[VOL. 112.
STOCKS AKD BONDS
INDUSTKIAL
224
Co., was
is under¬
company.
STOCK.—Authorized, 5,500,000 shares, no par value; issued, 3,909,944
shares.
The stock was issued in exchange, share for share, of the stock of
the three constituent companies.
Stockholders of record Oct. 14 1919 of
the three constituent companies as well as of the new corporation were given
the right to subscribe for about 900,000 shares of new stock at $60 per share,
payment to be made not later than Nov. 1 1919.
The shares were under¬
written at a cost to the company of $3 per share. V. 109. p. 1373.
Stock
listed on New York Stock Exchange in Sept. 1919.
The stockholders on May 19 1920 approved:
(a) the action of the direc¬
tors in authorizing four quarterly stock dividends of 2%; (6) the creation of
1,000,000 shares of preferred stock (par $100); (c) the issuance of $75,000,000
(of which $50,000,000 were issued). 7)4 % convertible notes, Ac., all as per
statement in V. 110, p. 1857.
The stock divs., are payable July 15 and
Oct. 15 1920 and Jan. 15 and Apr. 15 1921.
On Dec. 31 1920 $247,700
pref. stock was outstanding.
An initial div. on the new pref. stock of $2
a share was paid to holders of record Aug. 15 1920; since to May 1921, 2%
Deduct—Int. & disc, and
5,192,198
3,069,662
11,829,637
4,812
Com. div. mstock (4%).
758,661
Surplus
$17,795,107
10,010,772
2,948,518
10,150,175
$9 590 464
$6 542 024
est. Federal taxes
Reserve for deprec., &c.
Pref. div. (8% cash)
1.942,680
8,153,504
-
$5 038 783
DIRECTORS.—H. F. Sinclair (Chairman), E. H. Clark, A. H. Wiggin.
Daniel C. Jackling, William Bo ce Thompson, Harry Payne Whitney,
William E. Corey, A. E. Watts (V.-P.), Joseph M. Cudahy (V.-P.), O. A.
Braley, Frank Steinhart, E. W. Sinclair (Pres.), William P. Phillips, Samuel
L. Fuller, J. Fletcher Farrell (V.-P. A Treas.), 0. E. Brawley, D. L. Hoober.
W. H. Ison, E. R. Kemp, A. C. Woodman, R. T. Wilson, John A. Spoor,
Elisha Walker.
N. Y. office, 120 Broadway.—V. 112, p. 266, 660, 855.
1290, 1392, 1625. 2199.)
(THE) SINGER (SEWINO MACHINE) MFG. CO.—ORGANIZA¬
TION.—Incorp. in 1873 in New Jersey under special Act. Plants located at
Elizabeth, N. J.; Kilbowle, near Glasgow; St.John, Que., Ao. V. Ill,p.1859Stock Increased in 1900 by 200% stock dividend and In 1910 by 100%
stoek dividend capitalizing surplus. V. 71. p. 1224. 1273; V. 90. p
1494.
The stockholders on Nov, 111920 voted to increase the capital stock from
$60,000,000 to $90,000,000,
The additional $30,000,000 stock was paid
to the shareholders in
LATE
DIVS.-/
the form of
*10. '11. '12.
a
50% stock div. on Jan. 3 1921.
'13. '14. *15. '16. *17.
'18.
*19. '20.
'21,
1908
1
19
12
13
16
12
8
9
11
10
10
7
text
Note.—The Dec. 1920 payment was 30 francs per share and in March
1921 paid 20 francs per share.
V. Ill, p. 2529; v. 112, p. 1151.
In July 1917
paid an extra dividend ol $12 per share by the dis¬
tribution at the price of $4 80 per share, at which it was acquired out of
Since
surplus Aug. 27 1907, 1,600,000 of the 2,000,000 £1 shares of the Singer
Mfg. Co., Ltd., of Great Britain A Ireland (owning plant at Clydebank.
Scotland, in the proportion of 2)4 shares of £1 each of the British co
to
one ($100) share of N, J, co,
See V, 105, p, 395* V, 106, p, 507,
Also
paid stock dividends as follows: 1900, 200%; 1910, 100%; 1920, 100% in
pref. stock of the International Securities Co. of N. J., a subsidiary V.
112, p. 379); 1921, 50%.
V. Ill, p. 1859.
Pres., Douglas Alexander; V.-P., F. A. Park.
Office, 149 Broadway,
N. Y.—(V. 112. p. 266, 379, 1151.)
,
.
SLOSS-SHEFFIELD STEEL & IRON CO.—ORGANIZATION.—Incorporated In New Jersey.
See V. 109, p. 378; V. 69, p. 286; V. 70, p. 1099.
1200.
In July 1919 owned (V. 109, p. 378): 6 modern blast furnaces, daily
capacity of 1,500 tons foundry or basic pig Iron; also a new stack and cast
shed with complete equipment
of handling ore; 11 well-developed coal
mines on 4 of tne best known seams of coal in Alabama, daily capacity of
6,500 to 7,000 tons ;5 red ore mines, daily capacity of 3,000 tons hard and
soft red ore; 5 ore-washer plants; 15 steam shovels, 20 dinkey locomotives,
with narrow-gauged track mining cars; mine producing 1,500 tons of brown
hematite ore daily; 1 dolomite quarry, with capacity of 700 tons of stone
daily.
A by-product plant was put into operation in April 1920.
LATE DIVS ( '07. *08. *09. *10. *11-*14. '15-T0. '17. '18. '19.
'20. '21
Common
1 5% 4)£ 5J4 3J4 None None
1)4
text 6
6 text
Preferred
I
7
7
7
7
7yly Below 7(Q-1«)
The pref. dividend was paid in Jan. and Oct. 1915 in 1-year 6% scrip; no
distribution April or July 1915. but in Jan. 1916 all the dividend scrip
13)4%) was redeemed and there was paid in cash 1 % % and also an extra
1X % as deferred dividend for 1915; April 1916 to Apr. 1921, incl., paid full
1H% quar.
Common divs. Feb .1917, 1)4%, then none till 1918, when
quarterly distributions of 1)4% each were resumed, beginning May 10.
Aug. 10 and Nov. 11, 1)4%; in 1918, Feb. to Nov. incl., paid 1)4% quar.
Id June 1918 the 6% div. on
common shares
earned but deferred in
1917 was declared payable July 1; thereafter to Feb. 1921 1)4% quar.
May 1921 div. passed.
V. 106, p. 2656, 1800; V. 104, P. 1596, 1904.
In 1905 common shareholders received 5% In cash and 33 1-3% in stock.
GOLD NOTES, Ac.—The $6,000,000 gold notes of 1919 have an animal
sinking fund of $300,000 beginning Aug. 1 1920.
While they are outstand¬
ing the property cannot be mortgaged.
V. 109, p. 378.
REPORT.—For 1920 showed;
1920.
Calendar Years—
Operating
$3,847,364
profits-.
455.057
352,500
Coke oven loss.
1919.
1918.
$3,276,197
2 59.158
X1917.
$3,370,614
$6,195,527
*2,502,959
142,500
Depreciation A depletion
587,968
502,213
577,997
227,500
665,741
Federal & State taxes
400,000
420,000
1,000,000
325,000
Interest.
Preferred
__
dividends.._(7%)469,000(7%)469,000(7%)469,000(8M)573,881
(6%)600,000(6%)600,000(10)4)1050000(1 )4) 148869
Common dividends
$824,779
Balance, surplus.
$1,025,826
$453,071
$1,429,623
Profit and loss surplus.. $7,933,047
$7,088,267 $6,227,543
$5,741,314
*
Loss due to war-time construction of by-product coke ovens,
x 19
months.
Chairman,
Waddill Catchings; Pres., J. W. McQueen; Sec.
Birmingham, Ala.—V. 112. P- 1625-
A Treas.,
Russell Hunt,
(A. O.) SMITH
CORPORATION.—(V. 109. p. 1279.)
SOLAR REFINING CO.—ORGANIZATION. Ao.—Incorporated In Ohio
Has refining plant at Lima. O.
Formerly controlled by Standard
J., but segregated in 1911.
See Standard Oil Co., V. 85, p.
216. T90; V 93. p. 1390.
The stockholdOTs on June 16 1913 voted to In¬
crease the stock from $500,000 to $2,000,000. the new stock being dis¬
in 1886.
Oil Co. of N.
V. 96. p. 1493, 1777.
On Dec. 20
quar.
tributed as
Equip. Trusts, &c.—On Dec. 31 1920 there were outstanding $4,814,644
equip, trust notes and purchase money obligations and $1,394,585 oil and
gas certificates.
and 30% extra
1917. 5% A 25% extra:
June 1918, 5%: Dec. 1918 and June 1919, 5% and 5% extra; Dec. 1919.
5% and 15% extra; June 1920, 5% and 5% extra; Dec. 1920, 5% and 35%
extra; June 1921, 5%.
Report for 1920, in V. 112, p. 1290, showed: Profits,
$1,698,207 (after deducting $785,688 Federal taxes for 1920); divs. (50%),
$1,000,000; bal., sur., $698,207; total profit andloss, surplus, Dec. 31 1920,
$5,112,197.
Pres., J. G. Neubauer; 1st V.-P., F. T. Cuthbert; 2d V.-P. &
Treas., F. G. Borges; Sec., N. D. Keys.
Office, Lima. O.—(V. 112, p.
Notes.—The secured 7)4% convertible notes are redeemable as a whole
in part at 105 to May 15 1921, and thereafter at 1% less for each year
elapsed, except that in case notes are issued with stock purchase warrants
attached, those notes not accompanied by their appurtenant warrants will be
redeemable at par.
Secured by pledge of all the stock and other securities
of subsidiary companies now owned or hereafter acquired.
Each $1,000
note is exchangeable for 10 shares 8% cumulative pref. stock (par $100) and
2)4 shares common stock (no par value.)
The notes may Instead carry
detachable warrants entitling the holders to purchase said amounts of
Preferred and common stock for $1,000 (plus accrued dividends on the pre¬
ferred stock) up to May 15 1922; thereafter, the notes are to be convertible
on the same terms but only if accompanied by warrants
(if any) originally
or
attached.
a
300% stock dividend.
1912 20% div. was paid:
from June 1914 to June
June 20 1913. 20%; Dec. 20, 5%
1917. 10% (5% s.-a.); Dec.
1031, 1290.)
& PLATINUM CO.—(V. 109, p. 79.)
CO.—ORGANIZATION, AC.—Incorporated In
Pennsylvania in 1889.
Produces crude oil. Early in 1913 acquired 51 %
of the $10,000,000 Penn-Mex Fuel Company stock, controlling 180.000
acres leases and fees along the Gulf Coast of Mexico, and in 1917 properties
in W. Va. and Ky.
V. 107, p. 2481; V. 105, p. 722; V. 96, p. 657; V. 101.
SOUTH AMERICAN OOLD
SOUTH
PENN
OIL
MAY, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES.
[For abbreviations, &c., see notes on page 6.1
STOCKS AND
Date
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
loath
Porto Rico Sugar Co—Common stock $12,500,000
(a A d) 8% cum $5.000.000
& T—1st M red 10ft bee 191H a f .Bs
Southern California Edison Co—Common stock $83,500,000-
$100 $11,205,600
100
5.000,000
Ac
16.302,500
100 ♦17,669,172
100
4.000,000
100
12.029,900
Preferred stock
South
Bell Tel
1911
| Pref 5% and participating cumulative $4,000,000
2d pref 5% cum stock non-participating $12,500,000
Gen & Ref M of 1917 $136,000,000. call_
(text)
HC.xxxxc*Ar
Deben $8,000,000
due$15000.000 yrly call (text) Bu.xxxxc*
Underlying Divisional Bona Issues.—
Edison Electric of Los Angeles first mortgage
z
Edison Eleo of Los Ang 1st A Ref M g s f red llO-Usm.-zc*
100 Ac
1919
100 Ac
1899
1.000
1,000
1909
Pac Lt 8c
Usm.xxx
1911
Ventura County Power Co 1st M sk fd call 101
z
Mt Whit P & El 1st M s f call 110 to 1930 less 1% yly after
1.000
1.000
1902
1st 8c Ref M call at 105-.
1898
1.000
1909
100
500 Ac
Southern New England Telephone Co (The)—Stock-....
1st mortgage
•
.
Not Including
1898
.
amount controlled by co. through stock ownership.
Aug. 1917 purchased for about $3,500,000 the holdings of the Big
Development Co. in Lincoln County, W. Va., some 6,000 acres, on
are
500 oil and gas wells with a net settled production of about
900 barrels daily,
V, 105, p, 613 , 722,
In Oct, 1920 reported to have
increased its holdings In the west Virginia field through the acquisition of
1,154 acres with a production of about 200 barrels daily.
Formerly controlled by the Standard Oil Company of New Jersey, but
segregated in 1911.
See Standard Oil Company, v. 85, p. 216. 790; V. 93,
14 1917 to increase the author¬
The shareholders voted Feb.
ised capital stock from $12,500,000 to $20,000,000 in order to pay a stock
div. of 60% to shareholders of record Feb. 14. V.103.P.2244; VTl04.p 769.
DIVS.—
Cash,
1912.
1913.
regular- 7lA
Extra,
1916.
20
20
__
6
1915.
12
1914.
11
300
stock--
60
--
"
cash
4
2
—_
1917.
12
2
1920.
20
1918-19.
20
--
--
1921.
See
text
__
__
In
1921: March 31, 4%.
REPORT.—Report for cal. year 1920, in V. 112, p.
earnings-..$5,489,591
Dividends (cash) (20%)_. 4,000,000
—
The total surplus Dec, 31 1920 was
$2 668 235
4,000,000
1406, shows:
1916.
1917.
1919.
1920.
Net
$6,107,723
4,000,000
text
See
F
8c
Payable
do
Bankers
'21
2%
AprlS 1921 2%
Marl51921 1H
General
I
May 15
Q-—M
5
are
Checks mailed
1K
2%
1941
J Jan
%~vi
text
Where Interest and
Dividends
A Feb
do
•
Trust Co,
N
T
Los Ang
office,
do
do
do
do
•
N Y, Chic 8c Los Angeles
& J 15 Jan 15 '22 to '28 N Y and Los Angeles
1944
1
7 g
?g
J
5 g
MAS Sept 11929
Title Ins A TrCo.LA ANY
2,668,000
5g
MAS Sept 11922
Harris, Forbes ACo.NY
13,360.000
6.490.000
229,000
7,110,000
5 g
5 g
J
J
A
Bank TrCo.N Y.LAAOb
Nat Bk of Com,NY A S Y
6 8
A
8c
5 g
6 g
6 g
MAS Sent 1 1951
MAN Nov 1 1936
$4,745,098
4,000,000
$16,241,578.
sto ck subscr ibed
J Nov 11939
J July 1 1942
O
Los Angeles, Cal.
Apr 1 1928
Los Angeles U s m
N Y 8c Los Angeles
Bankers Tr Co.NY&S Fr
New Haven
consolidated
N
Haven,
Merch
Na»
$4.1 27,400.
company
operates
a
comprehensive system for the
transmission and distribution of electric energy, operating
throughout Southern California and in the San Joaquin Valley, embracing
feneration,
233 cities and towns and covering an area of over 55.000 square miles,
having a population of 1,500,000.
This system, with the controlled
companies, included in December 1920:
(a) 17 hydro-electric generating
plants with an aggregate capacity of 176,600 h. p. and 7 steam generating
plants with an aggregate capacity of 135,200 h. p., or a total capacity of
311,800 h. p., including the hydro-electric development at Big Creek; (ft)
undeveloped hydro-electric developments sufficient to increase the water
power plants to an ultimate capacity of 900,000 h. p.; (c) 175 substations
and 8,500 miles of transmission & distributing lines serving 238,269 meters.
An additional plant on the Kern River, known as Kem River No. 3. with
a capacity of 40,000 h. p., and an additional plant at Big Creek known as
Big Creek No. 8, with a capacity of 30,000 h. p., will be put in operation
during 1921.
As to suggested purchase of company's distribution system in Los Angeles
by the city, see V. 101. p. 1812; V. 103. p. 946; for temporary agreement
made in April 1917 and extended in Aug. 1917 till July 1 1919. see V. 105
p. 78, 613; V. 104. p. 1050, 1708, 1904; V. 103, p. 2161, 2348; V. 106, p.
1366.
City of Los Angeles has been granted the right to purchase eiectrie
distributing system in Los Angeles for $11,000,000, but litigation ensued.
2247, 2335, 2439, 2637.
V. 108. p.
Note,—No report for 1918 issued.
A
A
&
O Oct
1 1939
3,402,000
See text
15.000.000 7 Kin'20
Q—J
J
8c
D Dec 1 1948
5
1,000,000
The
In
which
1390
&
Places
35,000
Ad ditional
Creek
p.
See
Apr l 1921
Apr 1 1921
Q—J
Q—J
J
5 g
Last Dividend
and Maturity
25,722.000
7,000,000
1906
P Oorp
-
text
8 in 1920
«
235
630.000
1902
Pac Lt A P Co 1st M
xxxc*
San Gabriel Electric Oo 1st M call at 104 and interest
z
See
500
1917
Guaranteed bonds—See text
So Oal Ed General mortgage gold redeemable at 105--xxx
-
BONDS
Inter-connection plan in 1918. Y. 106.
Pres., L. W. Young Jr.; Sec., R. W. Cummins; Treas., S. G. HartmanOffice. 545 William Penn Way, Pittsburgh, Pa.—(V. 112, p. 855, 1406'
2654. Rates in 1919. V. 107, p. 508; V. 108, p. 84.
The company was auth, by the Calif, RR, Commission in June 1920 to
transfer its electrical distribution systems in Pasadena to the municipality
1625,
for
p.
1748.)
RICO SUGAR CO.—Incorp. Nov. 16 1900 in N. J;
bonds of The Central
Romana, Inc., owning upwards of 56,000 acres of land in Santo Domingo
and a raw sugar factory or 200,000 bags capacity.
Also owns all of the out¬
standing capital stock of South Porto Rico Sugar Co. of Porto Rico which
owns the Guanica Central sugar factory at Guanica, P. R., capacity 450.000
bags.
14 1917 to increase
capital stock from $4,000,000 to $6,000,000.
Of
CAPITAL STOCK.—The stockholders voted June
the authorized common
stock $500,000 was offered at par (V. 104, p. 2239) to stockholders
in 1917.
In Feb. 1919 the company sold $1,005,000 new preferred stock,
the
new
increasing the outstanding to $5,000,000.
V. 108. p. 386, 486.
Holders
of the $4,500,000 common stock of record June 22 1918 were entitled to
or before July 16 for $1,125,000 new common stock,
the proceeds to be used in connection with the payment for the new $4,000,000 sugar factory and other improvements at La Romana.
V. 106, p.
2654, 2763.
The stockhoders on July 1 1920 approved an increase in the
auth. com. stock from $6,000,000 to $12,500,000.
Stockholders of record
subscribe at par on
July 24 1920 received on Aug. 6 1920 a stock div. of 100%.
V. Ill,
p.
80,
301.
Dividends on common were paid from
1910 to 1915 loci, at an average
From Jan. 1916 to Dec. 1917 at the rate
rate of
nearly 6H % P®1" annum.
of 20% with occasional extra cash and stock dlvs.
In Dec. 1917 and April
1918, 5%; July 1918 to April 1919, 5% quar. in 3-year 7% scrip, all of which
was redeemed in cash In July and Oct. 1919. In July
19 to July '20 the
5% quarterly dividends were paid in cash.
Paid 100% in common stock
on Aug. 6 1920.
In Oct. 1920 paid 3% quar. and 2% extra in cash.
On
Dec. 31 1920 paid 3%; April 1 1921, 1K%.
Divs. on pref. at the rate of
8% have been paid since 1902.
108, p. 885 2130.
V.
V. 106,
p.
2654; V. 107, p. 910, 2015, 2104;
,
REPORT.—For year ended Sept. 30 1920 in V. Ill, p.
Total receipts, $22,250,851; oper. profits, $7,957,886; depr.,
reserve
2049, showed:
Ac., $981,849;
$1,750,000;
for working capital, $3,050,000; reserve for Fed. taxes,
dividends, $1,800,700; surplus,
$375,336.
OFFICERS.—William Schall, Chairman of board; F. A.
President; Julius A. Stursberg, 1st V.-Pres.; F. T. Maxwell,
F, M, Welty,
Dillingham,
2d V.-Pres.;
Treats,• Edward S, Paine, Sec,—(V, 112, p, 752.)
SOUTHERN & ATLANTIC TELEORAPH CO.—Leased to Western
Union for 999 years from Oct. 1 1876 (which at last accounts owned $390.475 of the $949,050 stock) and stock guaranteed by rental 5%, payable
A. A O.
V. 104. p. 669.
SOUTHERN BELL TELEPHONE A TFLEOPAPH CO—ORGANIZA¬
TION,—Incorporated in New York in Dec, 1879,
Controls "Bell" tele¬
phone system in southeast coast section of United States, including North
Carolina. South Carolina, Georgia, Alabama and Florida,
Also owns nearly
all of the $17,250,000 Cumberland Telephone & Telegraph Co, of Kentucky
stock, operating in Kentucky, Tennessee, Mississippi, Louisiana,
Ac,
Stock authorized, $30,000,OOO" outstanding. $30,000,000, all owned by
Amer. Tel. & Tel. Oo,
Divs,, 6% yearly since 1906, to and including 1920.
BONDS,—Authorized issue,
$50,000,000; after $21,400,000 have been
issued, the remainder ($28,600,000) can only be Issued to an amount not ex¬
ceeding the cash paid in on further Issues of stock, provided that, during the
previous year, the company shall have earned net at least twice the interest
charge of all bonds outstanding during the previous year.
A sinking fund
of 1 % of bonds issued will be used yearly to cancel bonds if purchasable at
or under par.
To Dec. 31 1920 $1,697,500 of the $18,000,000 issued had
been canceled.
V. 91, p. 1714; V. 95. p. 684, 893, 1212; V. 107, p. 2295.
REPORT.—Report for year ending Dec. 31
1920: Gross, $12,474,458-
income, $1,147,277; other income, $1,025,182; interest, $1,093,850'
rents, &c., $275,369; divs., $1,650,000; bal., def., $846,760.
OFFICERS.—Pres.. J. Epps Brown; 1st V.-P. & Treas., J. M. B. Hoxnet oper.
Office, Atlanta, Ga.—(V. 112, p. 1290.)
SOUTHERN
CALIFORNIA EDISON CO.—ORGANIZATION .—
Incorporated in California July 1909, as a reincorporation of the Edi¬
son Electric Co. of Los Angeles.
On May 26 1917 purchased the physi¬
cal property of the Pacific Light A Power Corporation, together with
the controlling interests in other smaller companies, retiring $5,000,000 of
Pacific Light A Power Oorp. 1st 8c Ref. 5s.
VT103, p. 2244; V. 104, p.2239.
Controls $337,400 of the $400,900 common stock and all of the $400,000
pref. stock of the Santa Barbara Electric Co. (V. 92, p. 1570), having
outstanding $760,700 first mtge. serial and sinking fund 5s. due $10,000
jr'rly July 1 1921 to 1940. and $560,700 July 1 1941.
V. 102, p. 527. 615.
As of July 1 1920 took over all of the properties of Mt. Whitney Power
8c Elec. Co., assuming all of the outstanding debts and liabilities of that
company.
In Dec. 1817 purchased the properties of the Ventura County
Power Co.
V. 106, p. 1365; V. 83, p. 1124.
Purchase of Shaver Lake
property, V. 108, p. 2335: V. 109, p. 278.
In the early part of 1919 tbe company sold its Santa Barbara and Ventura
gas properties to the Southern Counties Gas Co., and the proceeds were
used in the purchase of Santa Barbara Gas 8c Elec.j^Co. bonds, and to pay
sey;
Sec., Addison
Maupin.
k
for additions to
the property-
a
consideration of
$533,262,
Development program, V, 111, p, 1190,
SOUTH PORTO
Owns all the $1,500,000 stock and $3,000,000 Income
STOCK.—The first pref. shares equally with the common in
dends in excess of 5%; 2d pref. limited to 5% divs.
All voting.
all divi¬
Aug. 1919 offered $2,500,000 new Common stock to shareholders at 90.
V. 109, p. 781.
In Jan. 1920 was authorized to issue $250,000 additional
common stock to be sold to employees.
In Feb. 1920 offered $5,000,000
common stock to shareholders at $90 if paid for in cash and at $91 if paid for
In installments.
V. 110, p. 1095.
In Jan. 1921 was authorized to Issue
$10,000,000 additional common stock.
Stockholders were given the right
to subscribe for one-half share for each share owned, at $90 if paid for in
cash and at $91 if paid for in installments, this right expiring March 1 1921.
Stock not taken by stockholders was offered to the general public at $94
if paid for in cash and at $95 if paid for In installments.
Dividends.—First pref. divs. paid 5% (Q.-J. 15) to Jan. 15 1914; AeHI
1914 to July 1916, 1K% quar.; Oct. 1916 to Jan. 1921, l%% quar.; April
1921, 2% quar.
On common 5% yearly (1K% Q.-F. 15) from May 1910
to Nov. 1913, incl.; Feb. 1914 to Aug. 1916, 6% yearly UK % Q-F.); Nov.
1916 to Nov. 1920, 1M% quar.; Feb. and May 1921, 2% quar.
On 2d pref., 1H% quarterly (5% p. a,) from Sept. 1917 to March 1921.
In
BONDS,—The shareholders voted May 31 1918 to authorize an
$136,000,000 to $272,000,000.
V. 106, p.
of the bonded debt from
increase
1800.
$136,000,000.
The $8,000,000 series of 1919 was issued as stated below in connection
with the retirement of the $10,000,000 Gen. Mtge. two-year 6s, due July 1
1919.
An additional $7,500,000 was issued in Jan. 1920.
Tuis new series
is callaole at 105 and int. up to Feb. 1 1942 and at 102 and int. thereafter.
Further amounts were issued as follows: $5,000,000 in May 1920 and
$5,000,000 in Jan. 1921.
A semi-annual sinking fund (or improvement
fund) is to receive an amount equal to 1% of all bonds of the company
outstanding after providing for sinking fund of underlying bonds.
V. 108,
The General 8c Refunding Mortgage
p.
of 1917 is limited to
486, 789; V. 110, p. 2083; V. 112, p. 569.
preceding series •
for acquisitions,
Other series may be Issued but only upon retirement of
The remaining bonds may be issued for 75% of expenditures
extensions & add'ns to co's property, provided net earns, for
the preceding 1J
times the annual bond Int. charge, including int. on those
application Is made.
Escrow bonds may also be Issued.
$ for $, to retire underlying bonds which are secured equally with the Gen. &
mos.
are
IK
bonds for which
Mtge. bonds.
Hams Trust & Sav. Bank, Chicago, and Los Angeles
& Sav. Bank, Los Angeles, trustees.
See V. 105, p. 295; V. 106,
1365. 1349; V. 108, p. 486.
,
t
In July 1919 guaranteed $1,150,000 5% bonds of Shaver Lake Lumber
Co., payable $250,000 yearly 1921 to 1924, and $150,000 Jan. 15 1925V. 109, p.378,1085.
Ref.
Trust
p.
T
GENERAL*FINANCES.—In Feb. 1919 the company sold (a) General
and Refunding Mortgage 25-Year 6% bonds, the proceeds of which were
applied to the redemption of
$10,000,000 2-Year General Mortgage
Bonds maturing July 1 1919; (b) $8,000,000 two to nine years serial 7%
debentures, the proceeds of which were used to complete the payment or
the $10,000,000 due July 1 and the remainder towards the liquidation of
the floating debt.
See V. 108, p. 1175, 789. 486.
xT
As to General Mtge. 5s of 190U
see V. 89, p. 1599, 1673; V. 91, p. 1517,
V. 92, p. 1705; V. 93, p.
1538, 1671.
DEBENTURES.—These debentures of 1919
security
the General
will share In the
of any new mortgage made, the lien of which is junior to that of
8c Refunding Mortgage of July 1 1917.
They are redeemable at
company ■
days notice to viz.:
Feb. 1 1926 to July 15
in each case.
V. 108, p. 486,
as follows:
On the 15th of any month after 60
tni Jan. 15 1924 at 105; next year 104; next year 103;
option
1927 102; last six months 101, with interest
1175.
REPORT.—For calendar year 1920 in full in
1920.
1919.
Calendar Year—
$14,647,896 $10,569,565
Net, after taxes, &c._,_ $8,234,212
$6,089,244
Interest & amortization.
3,162,416
3,106,061
Depreciation reserve,Ac.
2,000.000
1,000,000
First pref. divs. (7%)--280,000
280,000
Second pref. divs. (5%).
601,495
601,495
Common dividends (7%)
1,321,393
1,069,388
Gross earnings
Balance
$868,907
V. 112, p.
1638:
„nl%\s:ro
$8,735,458
$5,387,035
2,943,569
500,000
280,000
601,495
984,209
$32,300 sur $77,762
1917.
$6,885,150
$4,425,195
1,913,253
1,000.000
280,000
296,407
781,834
sur$153,700
OFFICERS.—Pres., John B. Miller: Senior V.-P.. W. A Brackenridge;
Treas., W. L. Percey; Sec., Allan E. Morphy.
Office, Edison Bldg., Los
Angeles, Cal.—(V. 112, p. 266, 379, 477, 569, 752,1290, 1212,1611, 1984.)
SOUTHERN NEW ENGLAND TELEPHONE CO.—Holds
use of all telephone instruments and apparatus owned or con¬
Teleg. Co. in Connecticut, except in the town
of Greenwich, and operates in the following cities: Bridgeport, Danbury f
Hartford, New Britain, New Haven, Middletown, Meriden. Derby, Wat t
bury, Norwich. New London, Norwalk, Stamford and all towns in Connec<*_
(THE)
license for
trolled by American Telep. &
cut.
Date
Par
Amount
Bate
When
Last
Bonds
Value
Outstanding
%
Payable
and
MISCELLANEOUS COMPANIES.
6.]
I For abbreviations, Ac., see notes on page
Southern Pig* Line Co—Stock $10,000,000
--Southern Power Co—let M $10,000,000 g red 105— P.xxc*
fputh We*t Pennsylvania Pipe Lines—Stock
$50,000,000
Second preferred cum $3,000,000
First lien mtge gold red 105 beg June
Bond-secured g notes 8 "A" red text
Series
do
do
B red
100 Ac
100
100
xxxc*
..kxxxc*
(text)
Water—stocn $28.uou.UOU-..
mortgage $28,000 000 gold —
xx
Three-year secured notes $2,500,000 auth. U. S
Standard Gas & Electric Co—Com stock $15,000,000 auth..
1913
100 Ac
X3.797 000
100 Ac
2,000,090
1,250,000
28.000,000
17,859,000
100 Ac
100
Valley
1.000
1,000
General (now first)
Pref stock 8%
cum
105--zc*
xxc*
Oollat trust notes $750,000 call at 101 till Sept 1920, then
"b" 100H
Nxxxc*
Oonv s f secured notes $4,500,000 call text
Ce.Ckxxxc*
x
1920
50
50
_
Convertible sinking fund gold bonds redeemable
20-year 6% gold notes $15,000,000 red 103
Not including $3,250,000 pledged to secure
500 &o
1911
1915
50 Ac
(б)
may
Vlce-Prests., B. N.
p.
278; V. Ill,
V. 95.
EARNINGS
„
,
1920.
REPORT.—For cal. years (see
1919.
$250,312
1918.
$295,723
(12)419,999
101,155
169,610
$611,826
$339,963
Broadway.—(V. 112,
VALLEY WATER CO..
Apr. 24 1903, per
SPRING
I
196.)
1917.
$338,535
(12)419,999
Owns and operates the properties of the Bell
CAPITAL STOCK.—7% preferred, authorized $100,000,000, none out¬
standing.
Common, authorized, $100,000,000, outstanding, $60,000,000
(all owned by American Tel. A Tel. Co.).
or
Part, at 103 and Int. on or before April 1 1922; at 102 and Int., thereafter to
April 1 1924, and at 101 and Int. thereafter.
They are convertible Into 7%
Underlying bonds outstanding. $1,251,400.
cumulative pref. stock at par.
Pres., E. D. Nims, St. Louis, Mo.—(V. Ill, p. 1089.)
SOUTHWESTERN
POWER
&
LIGHT
COMPANY.—ORGANI¬
Ac.—Incorp. In Maine July 30 1912, and owns extensive interests
public utility properties in Texas and in two of the border cities of Mexico
thus serving, through controlled oper. cos., 122 communities, combined
population in 1910, 449.074; 1919 (est.), 751,450. V. 97, p. 954. Owns;
128,561
188,277
SAN
p.
„ _
266, 380, 477.)
FRANCISCO.—ORGANIZA
plan V. 76, p. 216, 977, to
TTON.—Successor
SOUTHWESTERN BELL TELEPHONE CO.—ORGANIZATION.—
,
97,779
188,704
Balance
Telephone System throughout the States of Missouri, Kansas, Arkansas,
Oklahoma and Texas.
Also owns the entire capital stock of the South¬
westernBell Telephone Co. (of Illinois) and over 90% of the capital stock
•f the Dallas Telephone Oo.
In
$897,211
37,976
189,850
New York office, 71
Treas., E. R. Shepard; V.-Pres., Allan
T. Towl; Sec., C. A. McLouth, Oil City, Pa.—(V. 112, p. 68, 477, 569.)
SATION
$5,691,777
Preferred dividends (7%)—
200
whole
p.^1170.)
$6,482,819
earnings, after
AH other interest
Gill
NOTES.—The 7% convertible notes of 1920 are redeemable, In
V.106, p.1897. Compare V.108,
deducting all charges and all expenses, applicable
to Southwestern Power & Light Co
$1,156,490
Ba42^e'«urp* wdef
sur.$76,150 def.$169,687def.$124,276 def.$81.464
Pres., Forrest M. Towl; V.-Pres. &
Incorp. In Missouri In 1882.
BaL.Sur.
$1,411,865
946,470
Expenses of S. W. Power A Lt. Co., less other inc.
Int. charges on S. W. Power A Light Co. bonds
Apr. 1920 to Apr. 1921 paid 2% quar
(12)419,999
Net Income. Pref. Divs.
$1,690,512
$278,647
1,143,497
197,027
Gross.
$10,157,633
6,962,883
Gross earnings of all subsidiaries
Balance of subsidiary companies
REPORT for 1920. in V. 112, p. 569, showed:
-
(subsidiary companies);
1919-20
ov
Profits tor cal. year..-.
$356,149
Dividends
—(8%)279,999
pledge of $2,000,000 First Lien 30-Year 5% gold
lien bonds due Aug. 1 1925 (with
Years end. Mar. 31—
1920-21
A
Dividends paid Apr. 1912 to July 1914, 5% quar.; Oct..
!%: V,ec, Ji'.3%i 1915. 12% (3% Q.-J. and 3% in Dec ). Jan. 1916 to
(3% Q.-J.).
companies not
right of company to deposit cash in whole or in part in lieu of First Lien
30-Year 5% bonds. V. Ill, p. 699.
Series B are secured by pledge of
$1,250,000 Gen. Lien bonds due Jan. 1 1941 jand $1,250,000 First Lien
30-Year 5% gold bonds due June 1 1943 (with the right of the company
to deposit cash in whole or in part in lieu of 1st lien 30-year 5% bonds.
V. 112, p. 266.
.
.
underlying securities of the subsidiary
Series A are secured bv
SOUTH WEST PENNSYLVANIA PIPE LINES CO.—ORGANIZATION
Ac.—Incorporated In Pennsylvania in 1880.
Own pipe lines In Penn¬
sylvania.
Formerly controlled by Standard Oil Company of New Jer•ey, but segregated In 1911.
See Standard Oil Co.. V. 85, p. 210, 790'
Dec. 311919.12% tP
secured by
bonds due June 1 1943, and $2,000,000 gen.
W.
p.
preferred, $12,000,00 0
Common, $20.000.000;
the
Office.
Lee: 8oc- *nd Treas.. R. B. Arrington.
119, 240
pledged under the mortgage and all first lien 5s outstanding and those
about to be issued.
(V. 97. p. 954 )
The bond-secured 8% notes of 1920 ($5,000,000 auth.) are redeemable,
all or part, as follows: Series A at 103 and int. up to Aug. 1 1922; thereafter
at 102 and int. up to Aug. 1 1924, and thereafter at 101 and int.; Series B
at 105 and int. up to Jan. 1 1926; thereafter at H % less each two years up
to Jan. 1 1940, and on July 1 1940 at 101 and int.
$350,000
493,384
Duke.
(V. 93, p. 533; V. 97. p.
2276.)
be issued for 80% of cash cost of permanent improvements or ad¬
or for 80% of cash cost by additional properties, but not to exceed
1916-17.
Fifth Ave., N. Y.—(V. Ill, p. 1957. 2431.)
SOUTHERN UTILITIES CO.—(V. 109.
Ft. Worth Power A Light Oo.
charges on all the
April 30 1919 and 1917:
$350,000
748.632
These com.
ditions
BONDS.—Of the 1st 5s of 1910 the unissued $3,000,000 are reserved fo»
70% of the cost of additions when annual net earnings are twice the Interest
charge, Including bonds to be Issued.
V. 109. p. 580.
Catawba Power Co.
has outstanding $628,0()0 (closed mtge.) 30-year a. f. 6s due June 1 1933
and $6,000 6s due Aug. 1 1922, but neither the property nor the stock
of that company is covered by the Southern Power Oo. mtge., nor have the
bonds of that co. any lien or interest on the So. Power Co.'s property
V. 90. p. 855; V. 92, p. 1040; V. 95, p. 1625; V. 99. p. 1533; V. 100, p. 2014
The earnings Include the income derived from the Catawba Power Oo.
and the Catawba rental is charged into operating expenses.
1918-19.
A Fuel Co.
capital stock of the Hutchinson Gas
Fuel Co., except directors' shares.
in Hutchinson and Newton, Kansas.
80% of replacement value; but in no case unless the annual net earnings
of properties subject to the Hen of the bonds are double the annual Interest
cumulative, authorized $10,000,000, out¬
standing $6,000,000; common, auth. $5,000,000, outstanding $4,000,000.
earns..$4,163,850 $3,643,341 Bond Interest.
Net aft. rents- 1,098,632
843,3841Balance
gas
Spring, electricity.
electric and Ice.
Colorado, electricity
BONDS.—The first lien bonds ($3,797,000 outstanding) are
7%
EARNINGS.—As reported for years ended
1918-19.
1916-17. I
Bl*
Sweetwater,
pledge of all the stock, except directors* shares and bonds of the nine sub¬
sidiary companies and are additionally secured by deposit with trustee of
all common stock, except directors' shares ($9,995,800 par value) of the
Texas Power A Light Co. and more than 93% ($2,578,300 par value) of
the common stock of Fort Worth Power A Light Co., and all the capital
stock, except directors' shares and by part of the bonds of the Hutchinson
Gas&Fuel Co. and of the Newton GasAFuel Co. Additional first lien bonds
In 1915 Southern Public Utilities Co., said
Gross
natural
STOCK.—Authorized:
June 22
Aug. 1918
population of over 950.000.
V. 90. p. 855; V. 92, p. 1640;
V. 97. p. 1219; V. 100. p. 2014.
serve
Bonds of Sub. Cos. Operating in
pref., $3,000,000.
Outstanding: Common, $15,125,000; preferred.
$4,387,000; 2d pref., all converted. Controlled by Amer. Power & Lt. Co.
Dividends on pref. stock, 7% per annum (Q.-M.) to Mar. 1 1921.
to be an allied concern, sold $2,600,000 1st A Ref. 5s, due July 1 1943.
Serves a manufacturing and Industrial territory extending for some 311
miles over the western section of North Carolina and South Carolina,
»and !£•
New
2d
V. 109. p. 1280.
In Mch. 1913 the Southern Power Co. or Interests connected
therewith
purchased from the Fries Mfg. A Power Oo. the street railway and electric
light plants of Wlnstcn-Salem, N. O.
V. 96. p. 793.
Supplies power tc
Piedmont A Northern Ry., 125 miles, owned by allied interests; V. 104.
OPFIOER8.—Pres.. J. B. Duke;
Chicago
York and Chicago
N Y and
1 1921
Paris, street railway.
Wichita Falls, electricity.
served.
V. 98. p. 307; V. 105, p.
developments aggregating 44,000 h.p; (b) high-tension transmission lines,
comprising a 3-wire circuit equivalent to 1,900 miles In length; (c) entire
capital stock of 2 hydro-electric cos., viz.: Catawba Power Co., on Catowba
River (8,800 h.p.); Greenville-Carolina Power Co. (3,500 h.p.), on Saluda
River near Greenville, S. O. (V. 93, p. 533); also capital stock of Charlotte
Power Oo. and Charlotte Electric Ry., Lt. A Power Co. of Charlotte, N. O.
Bee "Electric Ry." Section.
On or about Sept. 18 1919 began its 100,000
hydro-electric station at Wateree Station, 7 miles from Camden, S. O.
stock,
N Y, San Fr A Fran-on If
Co.'s office, San Fran.
(а) Texas Power A Light Oo. (see that company below), operating In
Waco, Temple, Taylor, Sherman, Hlllsboro. Cleburne, Tyler, Bonham
Denison, Paris, Palestine, Ennls, Gainesville, Brown wood, Waxahachie, Ac.. Ac. (V. 102. p. 1442).
Catawba River, S. O., and Broad River, S, O.. and steam
STOCK.—Pref.
Checks mailed
(2) A controlling interest, through Common Stock owned, viz.: (a) $9,995,800, (all except directors shares) 99.96 %, (6) $2,578,300, more than 93%, in—
deficit.def.$384,818der.$314,004def.$130,961 sur.$134,566
Shepard; V.-P. A Gen.
Office, Oil City, Pa.—
POWER
CO.—ORGANIZATION.—Incorp.
(a) hydro-electric developments aggregating in
a
MAS Sept
1910 acquired entire
In
panics
1883 to
119,200 h.p.
1625;
1923
1,
MAN Nov 15 1921
and the Newton Gas A
Jan. 15 1912 at rate of 6% p. a.;
1912, and to 8% p. a. Oct. 15
1905 and owns
0.
g
Galveston, gas.
(Cagle Pass, electricity and water.
Piedras Negras, electric and water.
Pres., Forrest M. Towl; V.-P. A Treas., E. R
Mgr.. J. W. Vandergrlft; Sec., O. A. McLouth.
(V. 112, p. 68, 569.)
having
S Mar.
All the Stock Except Directors Shares and
(1)
477, 752.)
2006; V. 99, p. 749, 1533.
2,500.000
Y
N Y
New York
12.679,550
June 15 '21 2% Checks mailed
Q—M
12.379,850 See tex*
Phlla Tr, S Dep A Ins Oo
J
A
D Deo 1 1926
6 g
6.642,500
Guaranty Tr Co, N Y
A
A
O Oct 1 1935
6 g
7.584,250
£1 Paso, gas
Diudad Juarez, gas
569, showed total p. A 1. surplus $1,895,871; also:
1920.
1919.
1918.
1917.
$1,315,181
$1,685,995
$2,069,038 $2,534,565
(17%) 1,699,999(20) 1999999(21)2199 999(24)2 399 999
p.
Bank of America,
A
7
Profits for year.
Dividends paid
on
do
do
Bankers Trust Oo. N
A Aug 1 1925
A
J Jan 1 1941
■M 31 Mar 31*211 H%
&
D Deo 11923
A
5g
7
771.)
SOUTHERN PIPE LINE CO.—ORGANIZATION, AC.—Incorporated
In Pennsylvania in 1890.
Has pipe line extending from Pennsylvania State
line to Philadelphia, Pa.,203.15miles.
Formerly controlled by Standard
Oil Co. of N. J., but segregated in 1911.
Dividends: 1912, 28%: 1913.
$2%; 1914, 30%; Mar. 1915 to June 1918, 24% p. a. (6% Q.-M.).
In
Sept. 1918 to Mar. 1920 paid 5% quar.
In June, Sept. and Dec. 1920,
4%; Mar. 1921, 3%; June 1921, 3%.
Report for cal. year 1920. in V. 112,
SOUTHERN
New York
A
Sg
620,000
SOUTHERN OIL & TRANSPORT CORP.—(V. 110, p.
Balance, sur. or
Payable
notes.
DIVIDENDS.—Dividend rate has been as follows: From Jan.
p.
J
3,740,500
Gross.
Net Income.
Interest.
Dividends.
BaL.Sur
$7,270,838
$1,204,706
$188,672
(7H)$900,000 $116-033
6,243,453
1,011,197
134,321
(7%) 840,000^
36,876
In 1917 shareholders were permitted to subscribe for $1,000,000 new stocx
at par.
Tbe directors on Nov. 29 1920 voted to offer $3,000,000 additional
capital stock to stockholders of record Nov. 29 1920 at par ($100) in the
ratio of one new share for each four shares held, increasing the amount
outstanding to $15,000,000.
V. Ill, p. 2236; V. 105, p. 1315.
Am. Tel. &
Tel. Co. Jan. 1 1920 owned $3,985,200 stock.
p.
are
1H Checks mailed
*21
1
June
text See text
D June 1 1943
See
5 g
100 Ac
1920
1919
1920.—(V. 112,
Where Interest and
Dividends
O Apr 1 1925
Q-M
7
500 Ac
1918
1919
Cat. Year—
Oct. 1888 averaged 6% p. a.; July 15 1891 to
increased to 7% p. a. with div. of April 15
7
4,387,000
None
1920
1921
A
A
7 g
25,000,000
15.125.000
100
1920
$20,550,000
1918-.Ba.xxxc*&r*
Places
Dividend
Maturity
June 1 1921 3% Checks mailed
Q—M
$100 $10,000,000 See text
Farmers' LATr Oo, N Y
MAS Mch 1 1930
5 g
7,000,000
1.000
Apr 1 1921 2% Checks mailed
100
Q—J
3,500,000 See text
1910
$3,500,000---
Southwestern Bell Telep Co—Convert Notes
t&Htftl (B00
mm
^
^
^
Southwe»tern Power & Light Co—Com stock
Pref stock 7% cum $12,000,000
Spring
[VOL. 112.
INDUSTRIAL STOCKS AND BONDS
226
Valley Water Works. V. 78, p. 827.
Suit, V. 82. p. 574; V. 84, p.
1906 an assessment of $3 a share was levied on the stock.
Spring
In
577.
V. 83, p.
V. 100, p. 480, 985,1516.
The city Is proceeding with the
Hetch-Hetchy municipal scheme.
(V. 101, p. 1978; V. 105. p.
915;
V. 110, p. 567.)
Rate suit 1907 to 1915 decided In favor of oompany.
Im¬
pounded money $2,323,442 awarded to company
V. 107. p 1105. 1008.
508.
Water rates, 1918, V. 107, p. 1389.
Valuation, V. Ill, p. 2332.
The San Francisco voters on March 8 1921 defeated the proposal that the
327, 498, 704.
1151
city purchase the co's property for a price set at $38,000,000. V. 112, p.
Of the General gold 4s ($28,000,000 authorized issue; Union Trust Co.
of
unissued bonds are applicable for acquisition and
improvements equal in cost to at least 85% of value of bonds. V. 79, p. 992;
V. 81, p. 1726; V. 82, p. 164; V. 87, p. 1482.
On Dec. 31 1920 $17,859,000
of these bonds were in hands of public and a further $7,735,000 were in
treasury (including $3,250,000 pledged to secure notes).
Ln Feb. 1920 sold $2,500,000 3-year 6% secured notes to be used to retire
In part $3,600,000 6% notes due Mar. 1 1920 and to reimburse the treas¬
ury for expenditures made prior to Dec. 31
1917. Notes are secured by
pledge of $3,250,000 gen. mtge. 4% bonds.
San Fran., trustee) the
LATE
DIVIDENDS.—
/ 1913.
1914. 1915. 1910. 1917.
\$2 12H $2 50
$3
$3 50 $3W
REPORT.—Report for calendar year
Calendar Years—
Net
profit, after int., deprec., Ac
Dividends!
_
Balance, deficit or surplus
OFFICERS.—Pres.,
W.
1918
1919.
1929.
5
5
4
1920 showed: .
1920.
1919.
$1,170,609
$1,372,028
(5%) 1,400,000 (5)1,400.000
1918.
$1,315,928
(4)1,120,000
def .$229.391 def .$27,972 sur.$195,928
Sec., John E. Behan; Treas., B.
San Francisco.—(V. 112, p. 266, 569,1151,
B. Bourn:
Bangs.
Office, 375 Sutter St.,
1524, 1748.)
STANDARD GAS
& ELECTRIC CO., CHICAGO, ILL.—Incor¬
porated in Delaware April 28 1910 as a holding company.
Owns bonds,
stock and
other securities of 13 public service corporations (electric,
gas and street railway) controlled by H. M. Byllesby A Co. of Chicago in
various parts of the country, serving 473 communities with total poplation or about 2.270.000. including Mississippi Valley Gas A Elec. Co..
which, ln conjunction with Standard Gas A Electric Co., controls through
stock ownership Louisville Gas A Elec. Oo. of Dela. V. 96, p. 556, 1025,
MA\, 1921.]
STOCKS AND BONDS
INDUSTRIAL
MISCELLANEOUS COMPANIES.
[For abbreviations, Ac., see notes on page 6.]
itnu
ba>
An,OWU
Rate
When
Last
Dividend
Hnrnt*
Value
Outstnna inv
%
Payable
and
Maturity
Standard MiHing—Common stock S15.000.900
Stock pref (a A d) 0% non-cum $6,488,000
First mortgage gold sink fd 86.250,000 <see t-exti
Mp.xo*
Debentures after Aug. 11918 convert into com stock call
Hecker-Jones-Jeweli Co 1st M $2,500,000; $187,000 re¬
deemed: $868,000 owned by Standard
>—.
.xc*
Standard Oil Co of California—Stock auth $115,000,000
10-year gold debentures red. (text)
Standard Oil Co of Indiana—Stock (see text).....
MAN Nov 1 1930
F
A
A Aug 1 1926
do
1916
5 g
6
do
do
1892
1.000
1,448.000
6
M
do
do
1921
_
1.000
25
*
1910
Sept 1 1922
J
AD Dec '21-Dec '25
5 g
184.000
text Ju ie 15
21 6% Checks mailed
2.0O0.000 24 In 20 See
Ac
500
100
..
Not Including $626,689 held in treasury
Effective as of Jan. 1 1919, acquired the public utility, Ac., business (ex¬
cepting the banking department) of H. M. Byllesby A Co.. Inc. (now the
Byllesby Engineering A Management Corp.)
V. 108, p. 2335.
V. 108,
p. 2335.
Also owns entire capital stock of Utilities Investment Co.
Shaffer Oil A Refining Co.—The company controls, also guarantees
principal and int., $13,907,300 Shaffer Oil A Refining Co. 1st M. conv.
6s, dated June 1919.
See that co. above and V. 108, p. 2247, 2335, 2636:
V. 112, p. 1290.
PREF. DIVS.—*12.
In cash, %
8
In 6% scrip, %
The directors
'13.
4
'14.
0
*15.
1
*16.
4H
'17.
6
'18.
6
'20.1921,
'19.
8
See
4
7
3 none.
text.
Aug. 191919 declared 13% cumulative dividends on the
pref. payable in common stock ($1,532,044) at par, Sept. 15.
V. 109, p.
782.
In 1921: March 15. 2%; June i5, 2%.
The $1,649,893 dividend scrip issued to Sept. 301915 has all been retired.
—
.
—
—--
on
NOTES.-—Plan of Sept. 1 *15 provided for an issue of 20-year 6% gold
1915, at no time to exceed in the aggregate $15,000,000Note offering, see V. 101, p. 1978;%V. 103,p. 670.
Under the trust agreement no additional 20-year 6% gold notes may be
Issued unless the annual net earnings (after deducting operating expenses,
taxes and annual interest charges on the then outstanding indebtedness,
except these notes and the pref. stock dividend scrip), are 2\i times the
sum of the annual interest charges on the 20-year 6% gold notes, including
those to be then Issued and the then outstanding prer. stock dividend scrip,
(since retired).
See also V. 101, P. 843, 851, 1978.
As to collateral trust
notes of 1918. see V. 107. p. 1750.
notes dated Oct. 1
BONDS.—The gold 6s of 1911 ($30,000,000 auth. Issue! are convertible
into pref. stock on the basis of $110 of bonds for $100 stock at any time
and if called within the period of 30 days'
required notice of redemption Unissued bonds are reserved for not exceeding 75% of the cost of securities
pledged with the trustee, when for the 12 months next preceding the net
earnings applicable to the payment of interest or dividends thereon, to¬
gether with the net earnings applicable to Interest or dividends on the
securities so to be purchased, shall have been 2 hi times the total interest
charges, including the bonds then to be issued.
See V. 93._p. 1327.
Of the
$11,800,000 6% bonds due 1926, previously issued, $5,157\500 bonds have
been canceled by sinking fund, treasury cash or sale of securities pledged,
leaving $6,642,500 bonds outstanding in Nov. 1920. V. 102, p. 350, 1902:
V. 103, p. 670: V. 104, p. 2122: V. 108, p. 1394.
Offering of Oklahoma Gas
A Elec. Oo, notes in June 1917, see V. 104, p. 2558.
The 7% notes of 1919 are secured by $2,280,000 of bonds and notes,
$1,160,000 pref. stock and $1,150,000 common stock,of Standard Gas A
Electric public utility properties, together with $1,000,000 7% pref. stock
and 110,000 shares common (no par value) of Shaffer Oil A Refining Oo.
(v. t. c.), all valued at $9,000,000.
Notes are convertible par for par into
8% cum. pref. stock or common stock of the company. Callable on 60 days,
notice at 101 and int. prior to Nov. 115 1920, thereafter at 100H and int.
Quarterly sinking fund of $150,000 begins Feb. 15 1920 for redemption'of
notes at call price.
Operation of sinking fund to Apr. 1921 had retired
$759,500, leaving $3,740,500 outstanding. See V. 109, p. 1993.
REPORT.—For calendar year 1920, showed:
Calendar Years—
1920.
1919.
Gross earnings-^—
Net earningsProfit on
bonds
—
.—$3,122,449
3,076,612
1917.
1918.
$1,618,567
1,574,927
$1,620,343
1,566,051
...
$3,040,988
2,960,896
100,000
owned
(called for redemption)
Gross income,
Interest
—
——
—
Preferred dividends
Amort, of discount, Ac__
$3,076,612
1,282,539
990,388
90,000
$2,960,896
993,781
939,568
65,000
55,000
$1,666,051
792,746
707,097
55,000
Balance, surplus——.
$713,685
$962,546
$26,646
$111,208
—
$1,574,927
786,184
707,097
OFFICERS.—Pres., H. M. Byllesby; Vi-Ps., O. E. Osthoff, J. J.
O'Brien, Arthur S. Huey, F. C. Gordon, Geo. H. Harrries; Sec. A Treas.,
R. J. Graf.
Chicago office, 208 So. La Salle St.; New York office, Trinity
Bldg.—(V. 112, p. 660, 940. 1290, 2091.)
STANDARD 1MILLI NO
Oct. 31 1900.
N. J
29 1916, per
CO.—ORGANIZATION.—Incorp. In
Consolidated with Colonial Milling Co. June
plan In V. 103, p. 65, and
subsidiary cos, mills
City and New York:
owns directly or through
In Minneapolis, West Superior, Buffalo, Kansas
total dally capacity, 38.000 bbls. of flour. V. 75, p. 1252; V.68 p. 873,
929. V. 69, p. 29, 1010; V. 71, p. 817; V. 84, p. 697.
Common stockholders of record Oct. 29 1919 were offered the right to
subscribe at par ($100) on or before Dec. 1 with payment in full for about
$1,384,000 treasury common stock to the extent or 23% of their holdings.
The proceeds reimbursed the company for the erection of new flour mflls
and grain elevators at Kansas City and for further expansion. V. 109.
1799. 1531.
LATE
DIVS.—
*17 *18
*19 '20, '21
6
66
6
See
4
6
10
10 text
4
4
a dividend of 8% (4% In cash and
4% In stock) was declared on the common stock, payable 1 % in stock and
1% In cash on the following Nov. 30, Feb. 28, May and Aug. 31.
Also
paid July 31 1918 an extra 2% in cash on common shares.
Nov. 30 1918
to May 311921 paid 2 % quarterly in cash with extras of 2 % each on Aug. 30
1919 and Aug. 31 1920.
The outstanding stock was increased from $4,786,515 on Aug. 31 1917
to
$7,405,642 Aug. 1920
through the 4% ($198,000) distribution a*
stock dividends plus $1,039,500 issued for conversion of that amount of the
$1410,000 convertible 6% debentures of 1916. V. 107, p. 1477.
Tne stockholders voted May 3 1920 to increase the authorized common
stock from $7,500,000 to $15,000,000.
On
S
See text
Checks mailed
a 99373311 See
text
Q
M
F
A
A Jan. 1 1931
7 g
New York A San Fran.
25.000,000
June 15 '21 4% Checks mailed
Q—M
88,038.313 See text
25
1559, 1632, 1777.
The company guarantees prin, and int. on $5,000,000
Miss. Valley Gas A Klec. Co. 5% bonds due May 1 1922. V. 94, p. 1452.
Also controls through stock ownership Western States Gas A Bloc. Co. of
Dela.
V. 102. p. 1544: V. 104, p. 1269.
See separate statement for each
p.
A
do
in
-
a
May 31 19212% Metropolitan Tr Co, N "V
do
do
May 31*211^%
6.488.000
2,593.000
70.500
...
$100,000
Q—F
Q—F
Where m-treat ant-
Dividend* are Payahb
100
inoo
.
1925 call 102—...Standard Oil Co of Kansas—Stock $2,000,000 tauth)
$7,405,642 10 in *20
$100
Place*
1.000
100 Ac
.._,
-
Karpen Bldg 1st M bonds due $50,000 yrly;
227
preferred
%
'09.'10. *11'12-'13 *14-'15'16
4
3
4
5
5
5
On common...;
2
do
in stock
..."
In Oct. 1916 and again in Oct. 1917
„
—
BONDS.—Of the
1st 5a,
—
—
3
—
5
■
—
..
$1,448,000 is reserved to retire at par
ttu
V. 94. p. 1631; V. 99, p. 54,
The convertible debentures are convertible into common stock at par and
redeemable at 105% and int. upon 60 days' notice, subject to the conversion
$1448,000 Hecker-Jones-Jewell 1st 6s.
privilege wfiich may be exercised during the 60-day period; $1,039,500
so converted Sept.
1920.
V. 103, p. 65.
On Aug. 31 1920 notes payable amounted to $2,250,000, inventories
having decreased from $9,042,678 to $6,052,682.
REPORT.—For year ending Aug. 31 1920:
1918-19.
1919-20.
Years—
August 31
Net profits, after int., Ac_$2,281,092
Div, on pref. stock—-(6%)389,178
Div. on com, stock--(10%)711,629
$1,996,295
1917-18.
$1,931,227
1916-17,
$1,668,298
(6)389,153
(6)389,172
(6)389,161
(10)584,823 (10)488,663
$1,180,285
$1,022,300 $1,053,403
Balance, surplus-
(8)372,990
$906,155
OFFICERS.—Pres., A. P. Walker; V.-P., James P. Lee; Treas., J. A.
Knox; Sec. A Asst. Treas., J. A. Neville.
Office, 49 Wall St., N. Y.—
(V. 110, p. 1649, 1978; Y. 111. p. 500, 597.)
STANDARD OIL CO. (CALI FOR NI A) —ORGANIZATION.—Organ¬
Pacific Coast Oil Co.
Present name
adopted July 23 1900.
Owns crude oil properties, pipe lines for the trans¬
portation of oil, refineries at Richmond, El Segundo and Bakersfield, Calif.;
tank steamers and barges for the transportation of its products.
Also owns
sales stations in principal cities and towns on Pacific Coast (compare Y, 110,
ized in California Sept. 10 1879 as the
&.ecision,
1080).
Government action as to Midway oil lands, V. 106, p. 1583.
V. 108, p. 387, 2247.
CAPITAL STOCK.—The stockholders voted in March 1921 to issue
$15,000,000 new stock to be sold to employees who will be assisted in paying
for it by a bonus—V. 112, p. 1625.
The new issue will bring the authorized
The par value of the shares has been
capitalization up to $115,000,000.
reduced from $100 to $25.
'19. '20. *21.
'18.
'16.
1917.
LATE DIVS. (%)—*13.
'14.
'15.
10
10
10
10 See
10
Regular cash—
10
10
10
■
....
Extra cash...——
In stock—
In Liberty
--
bonds
—
—
4
1
—
—
... —
-
mm
50
text
33 1-3
2H
—
2H
~
-
Sept. 1918 and again March 15 1919, paid 2H% extra in U. S. Liberty
4j|s. In Dec. 1919 1% extra in cash. Mar. 1920 to Mar. 1921
paid each quarter 2\b% regular and 1% extra; June 1921, 4% quar,
Loan
DEBENTURES.—The $25,000,000 10-year 7% gold debentures
as a whole at 105 and int. to Aug. 11921, and thereafter at
redeemable
are
of
less for each half year, or part thereof, elapsed after Aug. 1 1921.
Sinking fund,$500,000 annually commencing Jan. 1 1922 for the purchase
of debentures at not over 100 and int.
V. Ill, p. 2431.
1%
EARNINGS.—For calendar year 1920, in V. 112, p.4275, showed:
1920.
1919.
1918.
1917.
Earnings for year———$59,413,819 $48,566,327 $44,276,521 $30,377,073
9,798,565
8,176,220
9,917,985
5,897,326
Depreciation, Ac—. —
Excess profits A income
19,405.462
5,830,117
taxes
9,327,339
7,960,000
(estimated)
9.937.331
9,316,248
Dividends (cash)
10,931,063
13,912,263
2.484.332
do in Lib. bds. (234 %)
2,484,333
—
Balance, surplus—-$27,742,991 $17,647,372
$2,531,411
$9,333,382
OFFICERS.—Pres., K. R. Kingsbury; V.-Pres. A Sec., H. M. Storey
V.-Pres., R. J. Hanna and F. H. Hillman; Treas., R. O. Warner.
DIRECTORS.—K. R. Kingsbury, F. H. Hillman, R. J.
Hanna, H. M.
Storey, H. T. Harper, R. C. Warner and J. P. Smith,
N. Y. office, 37 Wall
St.; head office, Standard Oil Building, San Francisco.—(V. 112, p. 68,
477,660,1031,1275,1524,1625,1984,2091.)
STANDARD OIL CO. OF INDIANA.—ORGANIZATION, AO.—Incorporated In 1889 in Indiana.
Has refineries at Whiting, Ind„ Sugar
Creek, Mo., Wood River, 111., and Casper, Wyo.
Also markets oil, its
distributing territory comprlsing extensl ve areas in Middle West and North¬
west.
Owns about 33% of stock of Midwest Refining Co. V. 112, p. 369,
Early In 1921 purchased 50% of the capital stock of the Sinclair Pipe Line
Co.
V. 112, p. 660.
Formerly controlled by Standard Oil Co. or N. J.,
but segregated in 1911.
V. 105, p. 1216.
See Standard Oil Co. of N, J.
V. 85, p. 216, 790; V. 93. p. 1396; V. 95, p. 1750; V. 97, p. 1290.
A 2,900
per cent, stock dividend was paid May 15 1912, and a 150% stock div. was
paid in Dec. 1920.
V. 94, p. 420.
Shareholders voted March 1 1917
to increase the auth. stock from $30,000,000 to $100,000,000.
V. 104, p.
368.
The stockholders on Dec. 9 1920, voted to reduce the par value of the
capital stock from $100 to $25 and to increase the number of shares from
1,000,000 to 4,000,000.
Four new shares of $25 par were exchanged for
each share of $100 par.
Stock for employees, V. 112, p. 1151.
The stockholders were to vote June 3 1921 on increasing the authorized
capital stock from $100,000,000 to $140,000,000,
It was reported that part
of this increase was to be used to acquire the balance of the stock of the
Midwest Refining Co. by an exchange of stock on the basis of 2 shares
(par $25) of Standard Oil for one share (par $50) of Midwest Refining.
Bonds. Karpen Bldg., 1st M. 5s, mature in annual installments from
Dec, 1 1912 to Dec. 1 1925.
V. 92, p. 61; V. 91, p. 1773.
f
DIVIDENDS
f *12. '13. *14. '15. *10. '17. '18. '19. '20-21.
6
12
12
12 12 12 12
12
See
I 7 20 13 — — 12 12
12
text
Quarterly dividends 1917 to June 1920, both Inclusive, 3% and 3% extra.
In Sept. and Dec. 1920,3% and 5% extra.
Stockholders of record Dec. 17
1920 received a stock dividend of 150%.
In Mar. and June 1921 paid 4%.
egular
Extra
——
(%)—
....
\
——
940,1406, showed;
1920.
1919.
1918.
1917.
earnings.——.—$61,377,803 $34,604,416 $43,263,877 $43,808,931
Reserve for Fed. taxes- 20,404.319
9,796,624 20,000,000
18,400,000
Dividends.
9,116,678
7,200,000
7,200,000
7,200,000
REPORT.—For cal. year 1920, in V. 112, p.
Calendar Years—
.
Neb
....
$31,856,806 $17,607,792 $16,063,877 $18,208,931
—136,974,063 105,117,257 87,509,465 71,445,588
Chairman, Robert W. Stewart; Pres., Wm. M. Burton; Sec. A Treas..
Surplus for year
Total surplus.
E.
p.
G. Seubert.
Office, 910 So. Michigan Ave., Chicago, III.—(V. 112,
380, 660. 940, 1151, 1406, 1984, 2031.)
STANDARD OIL CO. OF KANSAS.—ORGANIZATION, Ac.—Incor.
porated in Kansas in 1892.
Owns refining plant at Neodesha, Kan., with
125 stills and a crude distilling capacity of about 4,000,000 bbls. yearly,
V. 103, p. 1512; V. 96, p. 1093. 1428.
STOCK.—The authorized capital was Increased from $1,000,000 to
$2,000,000 by a 100% stock dividend June 30 1913.
1913.
*14. '15. 1916. 1917. 1918. '19. '20. '21
LATE DIVS.—
12
6
12
12
12
12
12
12
Regular ....... %
See
7
4
12
ffixtra
12
--% 28 A lOOstk.
12
12 te?
Feb. 28 1918 to June 15 1921 paid quarterly 3% and 3% extra.
—
STOCKS
INDUSTRIAL
328
Date
Par
Amount
Bonds
Value
Outstanding
MISCELLANEOUS COMPANIES.
[For abbreviations,
&c.,
see
notes on page 6.]
When
%
Payable
100
100
1921
1921
Ac
Ac
30,000,000
20,000,000
l\8
100
—
7,000,000 ia
7,000,000
7
977,520 Hhs
100
17.500.000
7
100
$2
&c
1921
500
id
1909
500 Ac
CCc*
1910
500 Ac
1914
100 Ac
1919
100 Ac
CC.kxxxxc*
Places
Dividend
Where Interest and
Dividends
and Maturity
are
Payable
1921 3% Louisville, Ky.
5% Omaha
21 6% Guaranty Tr Co,
Apr 1
Q—J
June 20 '21
Junel5
June 15
'21
N
Y
1%
June 15 '21 4% Cheeks mailed
J
&
J Jan 2 '25 to '31 Eq Tr or Blair A Co, N Y
M
&
N May 1 1933
B'nkersTrorBl'rACo ,NY
Q—J
July 1 '21
4% Checks mailed
Junel
Q—M
7
J
0
J
&
J
&
1921
1X
AprT'2VI
Q".—'J..
7 g
Pledged
6,000,000
10,000,000
500 Ac
1919
series "B" red 105
[VOL. 112.
Last
3,000,000 See text J
&
D
25
98,338,300 20 in *20
Q—M
100 190,676,600
7
Q—M 15
100
75,000.000 10 In '20
Q—M
Serial gold debentures due annually (see text)__Eq.xxxc*
12-year gold debentures red (text)
Ba.xxxc*
Standard Oil Co (ol Ohio)—Com stocs $14,000,000
Pref (a & d) stock 7% cum call 115 beg 1925
Steel & Tube Co of America—Stock
Pref (a & d) stock 7% cumul $17,500,000 red 110 sk fd
Gen M $50,000,000 s fd ($5,000,000 collat for above notes)
red 107M
Rate
100
...
Series O
BONDS
$6,000,000 12 In '20
$100
Standard Oil Co (Kentucky)—Stock $0,000,000 auth
Standard Oil Co of Nebraska—Stock, $5,000,000
Standard Oil Co of New Jersey—Stock $110,000.000
Pref (a & d) stock 7% cum $200,000,000 call after 3 yrs 115
Standard Oil Co of New York—Stock *75,000.000.
General mortgage
do
do
AND
J July 1 1943
J July 1 1944
J Jan 11951
A
York and
New
New York and
Chicago
Chicago
Underlying Bonds—
Iroquois Iron Co 1st M due $128,000 yearly Dec 1; 1929,
$124.000
RefundlngMortgage (closed)
Co 1st M call 102 H
Mark Mfg
Northwestern Iron Co first mortgage
General mortgage red 105
-
REPORT.-—For calendar year
Calendar Years—
1920.
1920 showed:
1917.
1919.
1918.
$1,422,982
$1,661,614
$1,413,890
480,000
480,000
480,000
Profit and loss surplus Dec. 31 1920, $7,040,619.
Pres., J. C. McDonald: V.-P., Thomas Black; 8ec. & Treas., E. A.
Warren.
Office, Neodesha, Kan.—(V. 112, p. 477, 1161, 2091.)
Net profits.;.$2,043,449
Dividends (24%).480,000
STANDARD OIL CO. (KENTUCKY.)—ORGANIZATION. AC.—
Incorp. in Kentucky in 1886.
A, marketing and refining co.
Formerly
by Standard Oil Co. of N. J., but segregated In 1911.
See
Standard OH Co. of N.J., V. 86, p. 217,790; V. 93, p. 1390.
Stockholders
voted Dec. 18 1913 to Increase the auth. stock from $1,000,000 to $3,000,000, a 200% cash div. being paid Feb. 14 1914, applicable, if desired, to
purchase or new stock at par.
V. 97. p. 1589. 1827, 1903: V. 98. d. 70.
Shareholders on Feb. 1 1917 authorized the Increase in capital stock from
$3,000,000 to $6,000,000. a cash dividend of 100% being paid May 1,
stockholders subscribing for the new stock pro rata at par.
V. 103, p.
2348: V. 104. p. 458. 669, 769.
Suit by State of Mississippi, V. 110, p. 2298.
controlled
CASH D1 VS.—
Regular,
1914.
%
1915.
16
17
Extra. %..
2
July 1917 to Apr. 1921
1916.
16
4
0
paid 3%
1918.
1917.
14
1919. 1920.
12
12
12
2
1921
See
text
the $6,000,000 stock.
quar. on
REPORT.—For calendar year 1920. in V. 112, p. 855, showed:
Calendar Years—
1920.
1919.
1918.
1917.
Net profits
Cash
$6,020,260
dividends........(12)720,000
Fed. taxes
4"
(1917) add'l_
Res. Fed. tax.
$3,726,033
(12)720,000
______
2,250,000
1,500,000
100,000
$3,050,260
$1,406,033
cur. year;
Insurance fund...
$2,713,948
$1,967,020
(12)720,000(14)3,600,000
265,864
1,250,000
1,148,000
626,000
3,790,000
1,160,000
900,000
p.
A
D Dec *21 to 1929 Chicago and Boston
J
A
J
J
S"
A
D June *22 to 1930
D June *21 to 1939 Bankers Tr, NY; A CMc
A
A
O 1922-1934
Milwaukee, Chic ANY
F
7
A
A 1922-1939
New York and Cleveland
Table Showing Products of Company's Oxen Refineries, 1915-1919, V.
1296.1 For balance sheet as or Dec. 31 1919, see V. 110, p. 1638.
A. C. Bedford; Pres., Walter C. Teagle;
V.-Pres'ts, F. H. Bedford, F. D. Asche, S. B. Hunt; V.-P. & Treas., Geo.
H. Jones; Chas. G. Black, Edw. M. Clark, E. J. Sadler, Walter Jennings,
T. J. Williams and J. A. Moffett Jr.
Sec. is Charles T. White.
Office,
26 Broadway, N. Y.—(V. 112, p. 168, 380. 569,752, 940.1031,1625, 1748.)
STANDARD OIL CO. OF
Inoorp. In New York in 1882.
Buffalo and
nesses.
also markets
NEW
YORK.—ORGANIZATION,
Ac.—
Has several refining plants at New York and
Also conducts a number of oollaterai busi¬
oil.
Including the manufacture of barrels,
$478,083 df$l,692,980
p.
1625.)
STANDARD OIL CO. OF NEBRASKA.—ORGANIZATION.—Inoorp
in
Nebraska in 1906.
A marketing oompany.
Formerly controlled by
Standard Oil Co. of N J., but segregated In 1911.
See Standard Oil Co
of N. J., V. 85, p. 216, 790; V. 93, p. 1390.
On Apr. 15 1912 a 33 1-3%
stock div. was paid.
On June 20 1913 25% in stock was paid, and on May
16 1921 paid 200% In stock, raising amount outstanding to $3,000,000:
par
$100.
In Jan. 1919 the auth. issue was increased to $5,000,000.
Div.,
10%, paid June 20 and Dec. 20 1912; June 20 and Dec. 20 1913, 10% and
5% extra.
June 1914 to Dec. 1920, 10% semi-annually.
In June 1921
paid 5% on increased stock.
V. 112, p. 2091.
Balance sheet as of Dec. 31
1920.
V. 112, p. 1290.
Pres., A. Ku Richardson.
Office, Omaha, Neb.
Sec. H. W. Pierpont.—(V. 112, p. 940, 1290, 1524, 2091.)
STANDARD OIL
CO.
(OF
N.
J.).—ORGANIZATION.—This
com¬
pany was Incorp. under the laws of New Jersey in Aug. 1882 and reorgan¬
ized In 1899
taking over from liquidating trustees the properties of the
former Standard Oil Trust (V. 68
p. 1227; V. 69, p. 28; V. 85
p. 1293.)
The U. S. Supreme Court having on May 15 1911 ordered the dissolution
of the oompany for violation of the anti-trust laws (V. 92.
p. 1343, 1378)
the company on
oil
gas,
Deo.
1
1911
distributed
its
pipe line and allied companies In the
holdings
in
amounts
33
given
subsidiary
In V. 93
1390.
The large refineries at Bayonne, Baltimore and Parkersburg,
W. Va., were retained.
Owns a large majority of the capital stock of the
East Ohio Gas Co., Hope Natural Gas Co., Carter Oil Co. of Okla., Stand¬
p.
ard Oil Co. of Louisiana and Imperial Oil Co. of Canada with Its
dependency,
the International Petroleum Co., Ltd.
V. 105, p. 2002, 2369, 2462, 2547;
V. 106, p. 401.
Fleet, V, 107, p. 297.
The Humble Oil A Refining Co., at Houston, Tex., in Feb. 1919 voted to
Increase its capital stock from $4,090,000 to $8,200,000, and sell
$4,100,000
new stock to W. O.
Teagle of New York, President of the Standard
of the
Oil
Co.
(New
Jersey), for $17,000,000, or a basis of $414 63 per share.
With the funds thus obtained, the Humble Co. was in a position to
carry out
a large expansion
program, not only relating to its producing operations,
but to its transportation and refining facilities.
V. 108, p. 1168.
In 1917 the Federal Trade Commission charged the former Standard Oil
properties with dominating the gasoline market.
V. 105, p. 2362, 2371.
V. 106. p. 613.
Sale of interest held in German subsidiary. V. 104, p. 2348.
Deal with Maracaibo Oil Explor. Corp., V. 112, p. 1625,1748.
STOCK.—In Aug. 1919, to provide for a
vigorous "development cam¬
paign," the auth. capital stock was increased to $200,000,000 by the creation
of $100,000,000 7% cum. non-voting pref. stock, pref. as to assets and
divs.,
and subject to redemption after 3 years at
11,5 and divs.
Of this new stock
$98,338,300 having been underwritten, was offered at par to stockholders of
Aug. 15, subscriptions payable either in full on Sept. 15 or in four equal
installments, Sept. 15, Oct. 15. Nov. 15 and Dec. 15 1919.
V. 109, p. 378,
686,
1373.
1531.
The stockholders voted May 5 1920 to Increase the cumul.
7% pref. stock
from $100,000,000 to $200,000,000, of which $98,338,300 was offered to
stockholders of record May 14 at $100
pref. share for each share of common held.
eommon
new
a
share
on
the basis of
Compare V. 110,
p.
one
1638.
1649.1755.
The stockholders
the
on
Dec. 20 1910 ratified
a
plan reducing the
boxes and wioks.
For¬
000.
a
400% stock dividend being paid June 30. V. 96. p. 1428.1633.
In 1918 purchased a
45% (non-voting) Interest in the $44,000,000 capitaJ
stock of the Magnolia Petroleum Co., a prosperous petroleum producing
and refining organization, firmly intrenched in the rich oil fields of Okla¬
homa, Kansas, Northwest Texas andMexico.
Trade Commission objected to this alliance.
In May
1918 the FederalV. 106, p. 507, 1809.
New-
office building planned, V. 112,
p. 1031, 1748, 2091.
DEBENTURES.—The $30,000,000 7% serial gold debentures are due
$4,000,000 each Jan. 2 1925 to 1930 incl. and $6,000,000 Jan, 21931.
Re¬
deemable all or part on and after Jan. 2 1925 at 105 and int.; if less than the
entire
issue
called
first.
should
No
be
future
unless these debentures
called, the longest outstanding maturities to be
mortgage
(except purchase money obligations)
equally secured thereby.
V. Ill, p. 2432.
are
The $20,000,000 6K% gold debentures are redeemable all or part on
May 1 1928 at 103 ana int. and thereafter on any int. date at 103 and int.
less 3-10 of 1 % fc each succeeding 6 months until maturity.
Chairman, C. T. Oollings; Pres.. S. W. Coons; 1st V.-P., Wm. E. Smith;
2nd V.-P., W. G. Violette: Sec. A Treas., Jos C. Steidle; Asst. Sec., J. W.
Bell; Asst. Treas., T. J. McGoodwin.
Office, Louisville, Ky.—(V. 112,
p. 660, 752, 855.)
STANDARD OIL CO. OF LOUISIANA.—(V. 112,
cans,
merly oontrollea by N. J. company, but segregated in 1911.
See Standard
OH Co. of N. J., V. 85, p. 216, 790; V. 93, p. 1390. Stockholders voted on
June 5 1913 to increase the authorized stock from $15,000,000 to $75,000.-
Company will provide $750,000
Balance, surplus.
110,
DIRECTORS.—Chairman,
par
value of
stock from $100 to $25 per share and
increasing the authorized
stock from $100,000,000 to $110,000,000, to
provide for the sale
of stock to employees.
V. Ill, p. 2145, 2236, 2529.
common
common
DIVS.-(on com.)__/00. ui. uz. oo. u*. 05- 10. HI. '12 to June'21
(%)
U8
48
45
44
36 40 y'ly
37
20% yriy.Q-M
Also a distribution of 40%
($39,335,320) on Feb. 15 1913 from funds re¬
ceived in liquidation of loans to former subsidiaries.
V. 96, p. 423.
„
Since 1898
available semi-annually, beginning
p. a.,
Nov. 1 1921, to be applied within 6 months to the purchase of these deben¬
If debentures are not available for purchase
tures at not over 100 and int.
at that
price, the balance will revert to company.
Restrictions.—(1) Total funded debt, incl. this issue, shall never while
of these debentures are outstanding exceed 50% of total net assets;
(2) company will not create any mortgage unless debentures share equally
and ratably in lien of such mortgage (this shall not apply to purchase money
mortgages, Ac., to secure temporary loans).
V. 112, p. 2091.
any
DIVS—(Dec.
Per
rent..5
Paid in
1911
*12
20
13
15
14
8
6
6
18
8
'17.
'18.
11
19.
16
12
*2018
'21,
text
1921: Mar., 4%; June 4%.
REPORT.—For calendar year 1920 showed:
Calendar Years—
1920.
1919.
1918.
1917.
Net (after deprec., Ac.)_$39,405,631 $43,165,109 $28,642,388»$30,000,673
Cash dividend
(16)12,000,000(16)12000000(12)9000000 (11)8,250,000
Balance,
*
After
surplus.______$27,405,631 $31,165,109 $19,642,388 $21,750,673
deducting
war taxes.
The total surplus
Dec.
31
1920
was
$170,211,466,
Pres., H. C. Folger: Sec., Howard E. Cole: Treas., F. J. Frost.
26 Broadway, N. Y.—(Y. 112, p. 380, 1031, 2091.)
Office.
rTHE) STANDARD
Incorp in Ohio In 1870-
OIL CO. (OF OHIO).—ORGANIZATION.—
Has refinery at Cleveland, O.. also markets oil.
Formerly controlled by N. J. company.
V. 85, p. 216, 790; V. 93, p. 1390.
Refinery proposed V. 108, p. 1171.
Shareholders on May 25 1916 author¬
ized an increase of stock from $3,500,000 to $7,000,000 to provide for 100%
stock dividend, payable July 5 1916.
V. 102, p. 1544,1991; V. 106,p.2371.
The shareholders voted Jan. 12 1920 to Increase the auth. stock from
$7,000,000 to $21,000,000 by creating $7,000,000 new 7% cumulative
Ereferred stock and issuing $7,000,000 additional common stock. Stockolders of record July 12 1920
given the privilege of subscribing to
were
one
share of
stock held.
new
preferred stock at
Additional
common
par
stock
($100) for each share of common
be held in treasury subject to
will
issue
by the board.
V. 110, p. 269.
Balance sheet, Dec. 31 1920, in
$14,856,326.
V.
112,
p.
1406,
showed surplus of
Divs.. Dec. 16 1912, 5% for 6 mos. endiug Oct. 30 1912; 1913, 20% '3%
and 2% extra quar.;
1914, 9%
and 9% extra; 1915. 12 and 12 extra
(3% and 3% extra quar. Q -J.): 1916. Tan
Apr. & July. 3% and 3% extra.
Jan. 1917 to July 1921, 16% p. a. (quar. 3% and 1% extra).
On pref.
Initial div. of 1^% quar. paid Sept. 1 1920; to June 1 1921, \%% quar.
.
Office, East Ohio Gas Bldg., Cleveland, O.—(V, 112,
STANDARD PARTS CO.—(V. 112,
p.
p.
1406. 2199,)
477, 1625,1748, 1984.)
STANDARD TEXTILE PRODUCTS CO.—(V. 112, p. 1512, 2091.)
STEEL
&
TUBE
CO.
OF
AMERICA.—ORGANIZATION.—Incor¬
porated in Dela. June 14 1918 (V. 107, p. 297) as a consolidation of Mailt
Mfg. Co. and Iroquois Iron Co. (V, 90, p. 112).
In July 1919 acquired
the entire properties as enlarged by new acquisitions (V. 109, p. 180) In¬
cluded (a) Iron ore mines in Mich, and Wis., with iron ore reserves of about
33.000,000 tons; (b) 228 by-product coke ovens, capacity 1,000.003 tons of
coke; (c) 8, blast furnaces, capacity 1,200,000 tons of pig iron p. a., 5 of
which are at South Chicago, 1 at Indiana Harbor and 2 at Mayville, Wis.;
(d) the steel plant at Indiana Harbor, Ind., comprises open hearth furnaces,
blooming, billet and skelp mills, a large universal plate mill and pipe mills,
annual capacity of 500,000 tons of ingots and 375,000 tons of plates and
skelp.
V. 109, p. 1085; (f) pipe mills at Indiana Harbor. Ind.,Evanston,
111., and Zanesville, O., capacity 360,000 tons p. a.; (g) at Kalamazoo.
Mich,, electric furnace producing alloyed steel, 2 rolling mills, Ac,
Owns
and operates zinc properties and concentrating plants in Wisconsin. Hlinals
and Kansas.
Coal holdings comprise coal mines in West Virginia, 30%
ownership in fee of the Powellton Mine, W. Va., and a stock interest in the
properties of the Elkhorn Piney Coal Mining Co. and St. Clair Coal Mining
Co.
V. 109, p. 585, 180.
For list of stocks owned see V. 110, p. 2663. ii
"STOCK,—An
1918
annual sink, fund of 3% of the total amount of pref. stock
provides for its retirement at price not to exceed 110,
V. 109,
180, 585.
An initial dividend of 1%% on the new pref, stock was paid Oct. 1 1919'
to Apr. 1 1921, 1H% quar.
Div. of $1 per share on common stock was
1917
declared in Jan.
EARNINGS AND BALANCE SHEET.—For cal. years, V. 110.
p.2483.
Earns. Before
Federal Taxes
Dividends
Earns.'After
*
Federal Taxes
Paid & Accrued. Federal Taxes.
Paid.
Year—
1919
$91,985,685
xx$14,000,000
$77,985,685
$21,218,559
43,504,224
101,614,144
58.109,920
19,667.660
105,785,859
25,019,917
80,765,942
19,667,660
1916
72,426,692
1,634.633
70.792,059
19,667,660
1915
619,679
61,396,923
60,777,243
19.667,660
1914
341.215
31,798,850
31,457,634
19.667,660
1913
477,086
45,691.869
46,168,955
y59,002,980
289.830
1912
35.397.717
35.107,887
19.667.660
y Includes $39,335,320 from loans repaid by former subsidiaries,
xx 1919 taxes estimated.
&&
xx
...
issued
p.
1921.
FUNDED DEBT.—Announcement was made in Feb. 1921 that the 3-yr.
7% notes due July 1 1921 would be paid off at par and int. at any time on
presentation.
Underlying bonds, see table above.
The General Mtge. bonds, $16,000,000 outstanding, are secured by direct
mortgage lien on the entire physical property of the company now owned
or hereafter acquired,
subject only to $9,578,812 obligations, all due in
annual or semi-annual installments, and outstanding under closed mort-
MAY, 1921.]
INDEX
/
Mitt
Brmas
229
1
.
MISCELLANEOUS COMPANIES.
fFor abbreviations, &c., see notes on page 6.]
Par
Amount
Bate
When
Value
Outstanding
%
Payable
7
See text
Q—M
Last Dividend
and
Places
Maturity
Where Interest ami
Dividends
are
Payabie
\.
Stern Bros—Common stock $7,500,000 auth
Pref (a & d) stock 7% cum $3,000,000 red 125
Stewart-Warner Speedometer Corp—Com stock 600,000 sh
Convertible gold bonds red (text)
CeC.xxxcf
Strom berg Carburetor Corp—Stock full pd A non-asses*..
The) Studebaker Corp—Common stock ft75.000.00C
Prtt stock (a & d) 7% cum J15.000.000 red
125(allorpart)
Stuti Motor Car Co—Stock 200,000 shares
Submarine Boat Corp—Stock 800,000 aha no par v&iue
$100
1921
$7,500,000
100
3,000,000
None
457,525shrs
500 &c
2.000,000
None
75.000
8 g
shrs See
See text
V—F
May 16 '21
M &
N Mar 1 1926
text
Jan
100
60.000.000 See text
Q—M
100
9,800,000 7 in 1920
Q—M
None
200,000 shr See
text 9
Q—J
None
765,920abra See text
Checks mailed
Checks mailed
50c Checka mallei
New York and Chicago
3 1 921 50c.
June 1 1921
1M Lawyers Tl & Tr Oo.N l
June 1 1921 1*4 Checks
mailed
Jan 12 '21 $1.25 New York
Feb 7 1921
50c
*
3
i
'i
■
r
gages and indentures.
A sinking fund of 3% per annum of the amount
of Series A and Series B bonds issued commences in 1921 for Series
A bonds,
and in 1922 for Series B bonds.
Series C bonds will be retired 3 1-3% an¬
nually by sinking
V. 112, p. 266.
♦'
fundi
Earnings Calendar Yrs.
1920.
Grossprof. aft. Fed. tax.ll 1,142,341
and
deprec'n
reserve
__
\1918.
'
$9,706,715
1,829.398
3,578,420
1917.
$7,343,698
782,029
7,877,316
$5,694,931
2,116,511
9,344,628
charges...
Net prof, avail, for divs.
6,561,568
i.
OFFICERS.—
Pres. & Treas.—(Y. 112,
ger.
1919.
1,797,713
Fixed
p.
Chairman of the Board; A. A. Schlesin266, 380. 752, 2199.)
STERN BROTHERS—Organized in N.Y. on Jan. 31 1910 for the pur¬
pose of taking over and continuing the business of Stern
Brothers, a co¬
partnership organized in March 1867 and conducting a general department
and dry-goods store in New York
City.
CAP. STOCK.—Auth.
and outstanding,
$3,000,000 7% cum. pref.
($100 par) and $7,500,000 common (par $100).
Not less than $120,000 per
annum is required to be
placed in a "Special Surplus Account" for the retire¬
ment of pref. stock at not
exceeding 125 before any common divs.
Pref.
stock has no voting power until two
quar. divs. are in default, when it has
exclusive voting power until all defaults have been made
good.
Redeemable
at any time and in
dissolution, &c., at 125.
A committee was formed in
April 1921 by the holders of large amounts of
preferred stock to undertake to carry out a proposed plan
providing for (1)
the funding of the 33 H % accumulated
pref. divs.; (2) the exchange of pres¬
ent 7% pref. stock for
8% pref. stock; (3) the creation of no par value com-r
mon shares.
Compare V. 112, p. 1984.
DIVS.—Accumulated divs. on the pref. stock on Dec. 1 1919 amounted
40)i%.
On Mar. 1 1920 paid 1%%.
On June 1, Sept. 1 and Dec. 1
1921 paid 1 % % regular and l%% on account of accumu¬
reducing the latter to 334%.
June 1 1921 paid 1%%
An
official statement issued in
April 1921 said: "The directors have under
advisement a plan for the funding of the accumulated unpaid dividends on
the Preferred stock and as soon
as this plan is completed the Preferred
stockholders will be promptly advised thereof."
REPORT.—For year ended Jan. 31 1921, in V.""ll2, p. 1973, showed:
DIRECTORS,—Charles W. Stiger, Oak Park, 111., Pres.' Frederick E.
Gunnison, N. Y., V-Pres.* George H. Baylor of Chase Nat. Bank of N. Y.
City. Treas.* George F. Lewis, Sec.* Harland B. Tibbetts, N. Y., William
L. O Neill and Chas. A. Brown, Chicago.—V. 112, p. 940.
'The)
STUDEBAKER
CORPORATION.—ORGANIZATION.—Inoor-
mrated
In New
Jersey Feb. 14 1911 and took over the Studebaker Bros,
carriage. &c.) Mfg. Co., South Bend, Ind., and "E. M. F. (automobile)
Oo."
V
92, p. 534 602; V. 98 p. 834; V. 103 p. 1046.
In June 1917 ac¬
quired 8taver Carriage Works of Chicago.
V. 104, p. 2656.
See descrip¬
tion and history. V. 106, p. 1800; V. 109, p. 1800.
Plants are located at
8outh Bend. Ind.; Detroit, Chicago and Walkervllle. Ont. The
completion
of the new automobile plant at South Bend, began in 1916, give the com¬
pany a capacity of 100,000 automobiles per annum.
The wagon businses
was sold to the
Kentucky Wagon Mfg. Co. early in 1921.
V. 112, p. 477.
Organ, of new subidiary.
Citizens Homes Co.
V. 109, p. 2363.
Price
reduction, V. Ill, p. 1377.
STOCK.—A special surplus account, which on Dec. 31 1920 amounted to
$3,645,000. retires 3% or pref. stock yearly at not exceeding 125; the
%mount Issued. $13,600,00(1, had on Dec. 31 1920 thus been reduced to
$9,800,000.
No
mortgage
or
preferred stock increase,
except
by
consent or at least 75% of each class.
See V. 101. p. 1482; V. 102. p. 527.
894.
The
shareholders voted Nov. 24 1919 to
increase
the
common
stock
from $30,900,000 to $75,000,000.
Of the new stock $15,000,000 (under¬
offered at 105 to com. stockholders of record Nov. 29, one
•hare for every two shares held.
The $15,000,000 serial notes were paid
off out of the proceeds.
V. 109, p, 1800.
written)
was
to
1920 and Mar. 1
lated divs.,
Jan. 31 Years—
Gross income
General .adrnin. ,&c.,exp.
1920-21.
1919-20.
$1,686,388
489,003
Federal taxes,.
305,000
Preferred dividends__(14%)420,000
.
Balance, surplus
$472,385
1918-19.
$2,226,466
329,356
530,05'
88,191
$702,477
301,814
34,790
$460,680
—
Automobiles
Net
STOCK,—Stockholders
stock
voted
June
to
600,000 shares, no par
for Stewart
Manufacturing Corp.
The remainder Is to be
determine.
Stockholders
from
Par
voted
100,000 shares
value), four
4
value,
1920
to
increase
of which 60.000
the
were
common
exchanged
common, no par value, share for share.
kept In tne treasury for later issue as directors may
Nov.
on
(par
$100),
14
all
1919 to
change the capitalization
outstanding, to 400.000 shares (no
V. 109. p
1799, 1898.
new shares for one old share.
BONDS.—The 8% convertible gold bonds are redeemable at 105 and int
1 1922, thereafter at
1% less for each full year or fraction thereof.
Convertible at any time before
maturity, or if called for prepayment,
then up to the
redemption date, into the Common stock, each $1,000 bond
being entitled to 25 shares and each $500 bond to 12 shares, with a cash
adjustment for fractional shares.
to Mar.
An initial
sinking fund payment of $150,000 is to be made on Mar. 1
1922, with subsequent payments of $100,000 on each Sept. 1 and Mar. 1
thereafter up to and incl. Sept. 1
1925, to be used by the trustee for the
purchase and retirement of bonds at current
redemption price.
DIVIDENDS.—
11913.
1914 to 1918.
1919.
1920-21.
Per
cent
/ 4H
6 yearly
9
text
div. of $1 per share was paid on the new (no par value)
14 1920 same amount paid quar, to Feb. 15 1921.
May 15
An initial
quar.
1921 paid
50 cents per share.
REPORT.—For cal.
year
Calendar Years—
1920, in V. 112.
1920.
Net profits
p.
1918.
$3,161,634
1917.
$2,002,646
$2,200,774
OFFICERS.—Pres., O.
B. Smith;V.-Pres., V. R. Bucklin; V.-Pres. &
8cc., W. J. Zucker; V.-Pres. & Treas., T. T. Sullivan.
Directors: C. B.
V. R. Bucklin, W. J. Zucker. L. H. La Chance. J. E.
Otis, Chicago.
—(V. 112, p. 477, 569, 740, 856, 940, 1524, 1625, 1748.
^
STROMBERa CARBURETOR
CO. OP AMERICA, INC.—OKOANi
on
July 21 1916 and acquired the capital
2ATION.—Incoroorated In N. Y.
($50,000) or the Strom berg Motor Devices Co., an Illinois corporation
(V. 103, p. 417), with factory In Chicago and branches In N. Y.. Boston,
Detroit, Indianapolis and Minneapolis.
Full official statement Dec. 3J
ftock
1918. V. 108.
p.
276.
In Jan. 1919 obtained contract
supplying
baker motor cars.
V. 108, p. 282.
carburetors
for
all
new
Stude-
DIVIDENDS.—No. 1. April 2 1917 to July 1
1918. 75 cents quar.; Oct.
1920
1918 to April 1919, paid 75 cents and 25 extra.
July 1919 to Oct.
Jan. 1921, 50 cents.
Apr. 1921 div. omitted.
$1 quar.
REPORT.—For
cal.
year
1920:
Calendar Years—
\1920.
1918.
$350,827
21,742
$787,443
$870,566
$372,569
372,234
319,238
22,880
75,000
150,000
70,392
$340,101
$301,328
$279,007
$787,443
________
Total income
Selling, admin., and
Federal taxes
11,594
\
_____
gen. exp.,
_
&c
\
Federal taxes.
Preferred divs
Common divs
1920-21.
$5,174,404
__
$6,463,809
23,864
42,357
52,087,997
50,147,516
4,817,613
4,359,417
295,664
298,488
2,428,768
1,854,229
637,754
560,188
(7%).
710,150
748,475
767,550
767,500
(7%)2,100,000 (7)2,100,000 (4)1,200,000 (7)2,100,000
Balance, surplus
$1,916,644
Status in April 1921 and balance sheet as of March 31
1984.
$633,191
1921.—V. 112, p.
OFFICER8.—Chairman, Frederick S. Fish; Pres., A. R. Erskine; Treas.
R. Feltes; Sec., A. G. Rumpf.
Directors—F. S. Fish, A. R. Erskine
M. Studebaker, Jr.,
H. A. Biggs, N. R. Feltes, L. J. Oilier, A. B.
Thielens, F. Studebaker Fish, South Bend, Ind.; M. F. Wollering, Detroit
Henry Goldman, Arthur Lehman, A. Barton Hepburn, F. P. Delafield,
H. H. Lehman, WaddillCatchings, New York.
Office, South Bend, Ind.—
V. 112, p. 380, 477, 1141, 1525, 1984, 2199.
N.
J.
STUTZ MOTOR CAR CO. OF AMERICA. INC.—ORGANIZATION
—Incorporated in N. Y. on June 22 1916 (V. 102. p. 2347) and took over
capital stock and in 1917 the property or the Stutz Motor Oar
Co. of Ind., manufacturing motor cars at its plant in Indianapolis (free
the entire
from
mortgage).
CAP.
STOCK.—The stockholders
capital stock from 120,000 shares,
value.
voted
no par
May 5 1920 to increase the
value, to 200,000 shares, no par
of capital with which the corporation will carry oo
business is Increased from $600,000 to $1,000,000.
The 80,000 shares of
new
p.
The
stock
amount
were
paid
as a
66 2-3% stock dividend on June 29 1920,
V, 110
2494.
DIVIDENDS.—An Initial dividend of $1 25 was paid
Oct 2 1916 and
1920.
In Apr. 1920 paid $1 25 In cash and
On June 29 1920 paid a 66 2-3% stock div
In July and Oct. and Jan. 1920, paid $1 25 in cash.
paid the
same rate to
one-fifth of
a
Jan. 1
share In stock,
Results Cal. Years—
Net
sales
Net
earnings
Federal taxes
Net profit.
Dividends (cash)
do
(stock)
112,
p.
1524, 1615, showed:
1918.
1919.
1920.
1917.
$8,168,356
1,357,385
330,000
$7,274,249
1,597,148
600,000
$3,536,557
594,047
$4,483,315
1,074,778
,$1,027,385
1
900,000
500,000
"$997,148
$594,047
375,000
$1,074,778
375,000
375,000
OFFICERS,—Chairman, Allan A, Ryan; Pres., Wm. N. Thompson;
V.-P., F. E. Gunnison; Sec. and Treas., Geo. F. Lewis;
Office, 37 Wall St.
New York.—V. 112, p. 1406, 1524, 1615.
SUBMARINE BOAT CORPORATION, N. Y.—ORGANIZATION.—
Incorporated at Albany, N. Y., Aug. 4 1915 with 800,000 shares of capital
with no par value, and in Dec. 1920 had issued 765,920 thereof
(on a ten for one basis) for 76,592 of the 76,721 shares of the com. and pref.
stock of the Electric Boat Co.
V. 101, p. 215, 373, 451, 530, 851.
Divi¬
dends of $1 50 were paid Jan., Apr., .July and Oct. 1916 and Jan. 1917:
Apr. 1917, 75 cents.
July 1917, 75 cents.
None thereafter until Feb. 7
1920. when 50 cents was paid; Aug. 7 1920, 50 cents; Feb. 7 1921, 50 cents.
In Sept. 1917 the Electric Boat Co. deferred action on its dividend
owing
to capital requirements.
The Corporation's plant is located at Port Newark, N. J., and is
directly
connected by private railway with the main lines of the Pennsylvania RR.
Central RR. of N. J. and Lehigh Valley RR. and occupies
approximately
130 acres leased from the U. S. Shipping Board Emergency Fleet
Corp.
with
option of purchasing subject to lease from the City of Newark. N. J.,
of the land and docks.
The product of the Corporation consists of the fol¬
lowing: Standardized steel ships, fabricated ship parts and equipment, re¬
pairing. &c. Plans for entering other lines of business, V. 110, p. 1297
New subsidiary companies, V. 110, p. 2199.
1919.
$858,072
8TOCK.—The
Net profits
1919.
stock
STOCK.—Authorized and issued, as increased
n
Aug. 1919, 75,000
•hares of no par value, fuJly
paid and non-assessable.
Listed on N. Y.
Stock Exchange in Jan. 1919.
V. 108, p
276.
In Aug. 1919 offered
25,000 shares of new stock
to
shareholders at $45 per share.
V. 109. p.
278. 585.
Gross profits
Other income-
1918.
39,356
66,383,307
11,166,513
REPORT.—For year 1920, in V.
740, showed:
1919.
$3,092,384
1917.
51,474
$90,652,363
12,250,822
earnings...
Deduct—Int. charges
OFFICERS.—Pres., Louis Stern; Sec. & Treas., Richard A. Koegler.—
STEWART-WARNER SPEEDOMETER CORP.—ORGANIZATION
Factories, Chicago. III., and South
Beulo, III. Full data. V. 104. p. 450.
V. 96. p. 207. 140. 66: V. 101, p. 45;
V. 103. p. 499.
As to allied Stewart Mfg. Co., see V. 107, p. 1198. 1673,
2104, 2295; V. 108, p. 978; V. 112, p. 856.)
sold.
sales
Net
V. 112, p. 380, 1164.
1748, 1973, 1984.
—Incorp. in Virginia Dec. 20 1912.
1916.
REPORT.—For calendar year 1920, in V. 112, p. 1141, showing:
1920.
1919.
1918.
1917.
$365,873
(1^)52.500
1915
common
%
5
10
7
4
7
text
Sept .1
17 to Sept .2T9,4p.a.(l Q.-M.): Dec. 1 '19 1*4 &2M extra. V.
109. p. 1800.
Mar. 1 1920, 1J^%; May 5 1920, 33 1-3%, payable in com.
stock, increasing the outstanding amount to $60,000,000; June 1920 to
June 1921, l%%
quar.
Bank loans April 1 1921, $7,000,000.
1
1917-18.
$896,749
347,877
$1,314,558
DIVIDENDS.—
On
1919.
V.
voting
109. p. 987.
trust
of Aug.
9
1915
wm
|
terminated
Sept.
**
1ft
Date
Par
Amount
Rate
When
Last Dividend
Bonds
Value
Outstanding
%
Payable
and Maturity
i
MISCELLANEOUS COMPANIES.
[For abbreviations,
&c., see notes on page 6.]
.
None
Superior Oil Corp.—Stock 2,500,000 shares auth
Superior Steel Corp—$11,500,000 common stock
$100
100
100
pref 8% conv cum red 115 aft Jan 1920 $3,500.000._—
2d pref 8 % conv cum red 115 aft Jan 1920 $2,000,000
Swan & Finch Co—Stock $4,000,000
Preferred stock 8% cumulative $1,000,000 auth
Sweets Co of America—Stock auth $6,000,000
Swift & Co—8tock auth $150,000,000 as Increased in 1918__
1st M gold s f red 102 H
PC «c»&r*
1st
100
'*•
'
'
'
.
'
■
■'
•
•
t
1919
1920
..
...
1920.
Calendar Years—
^
1019.
^
1.547,30b
$2,063,559
L. Y. Spear, Henry R. SutE. D. Duffield, Thos. Cochran, E. C. Jameson,
H. C. Sheridan, A. L. Sheuer. Reginald B. Lanier, William H. Remick,
Isaac L. Rice.
N. Y. office, 11 Pine St.—V. 112, p. 1032.
SUN CO.—(V. 112, p. 1525.)
SUPERIOR OIL CORP.—Incorp. In Del. on Oct. 25 1917.
Property
or 45,502 acres of oil lands and leases, containing 1,052 producing
and having 1,147 additional locations over proven oil territory.
The
bulk of this property is located in the State of Kentucky.
Under an agree¬
ment dated June 24 1920 between the company and the Atlantic Refining
consists
wens
Co., the entire production of the company's Kentucky properties (with an
option to take the production from the properties situated elsewhere) has
been sold to the Atlantic Ref. Co. for a period of 10 years from Mar. 4 1920,
long as crude oil shall be produced in paying quantities and subject to the
ability of pipe line carriers to receive and transport the same, at the current
market prices on dates of delivery.
CAP. STOCK.—Of the 2,500,000 shares authorized, 454,708 shares are
so
outstanding in the hands of the public and 527,500 shares are held under a
deposit agreement for two years from Aug. 9 1920.
V. Ill, p. 1090.
DIVS.—The Mar. 1921 div. was omitted.
Payments had previously
^
been made at the rate of $2 per annum.
(Q-M 50c.).—V.
V. 112, p. 660.
EARNINGS.—Gross income for year ended Dec. 31 1920
Ill, p. 2146;
amounted to
Total profits were $1,349,-
$3,000,951 and operating expenses $1,666,286.
$206,000 for Federal taxes and $1,143,370
dividends.
Surplus for the year is $17,629.
OFFICERS —Acting Pres., W. M. Irish;
Treas., Robert H. Colley;
Sec., E. J. Henry.
Main office, Lexington, Ky.—(V. 112, p. 660, 752,
370 before deducting reserve of
1021, 1625).
SUPERIOR
STEEL
CORP.—ORGANIZATION.—Incorp.
in Va.
Dec. 22 1916 to acauire all outstanding stock of Superior Steel Co. of Car¬
negie, Pa.
Manufactures hot and cold-rolled strip steel, which is used in
making pressed steel parts, replacing castings and machine parts for auto¬
mobiles, furniture, buildings, &c.
No debt.
Plant covers 24 acres.
The official statement made to the New York Stock Exchange in connec¬
preferred and common stocks, was in V, 104,
1904, giving full particulars regarding the company's properties, &c.
a share on 1st and 2d pref.
tion with the listing of the
DIVIDENDS.—An initial dividend of $1 11
May 1917 to
26 was payable Feb. 15 1917.
On com., No. 1, 1H % on Nov. 1 1917; Feb. 1918
May 1919 paid 1H % quar ; Aug. and Nov. 1919 paid % %; Feb. 1920, M
and Vz% extra; May 1920 to May 1921, 1J^% quar,
May 1921, 2% quar.
Federal taxes
Sinking fund.
Inventory adjust., &c_.
Dividends
1919.
.
$7,661,277
$1,356,409
374,683
165.000
%
1918.
1917.
$8:961,862 $10,821,194
$1,939,366
$2,784,475
942,862
931,279
165,000
885,833
800,475
530,332
$228,322
731,252
$31,029
501,034
$437,031
466,926
Chairman, James H. Hammond; Pres., E. W. Harrison; V.-P. & Treas.,
C. H. Forster; Sec., H. D. Sarge; Asst. Sec. & Asst. Treas., Donald M.
Liddell.—(V. 112, p. 660, 1406, 1611, 1641.)
SWAN & FINCH CO.—ORGANIZATION. AO.—Incorp. In New York
1891.
In
Deals
in lubricating oil.
Formerly controlled by Standard Oil
Oo.ofN. J., but segregated in 1911.
See Standard Oil Co. of N. J.
V . 85,
D. 216, 790; V, 93, p. 1390.
In Nov. 1919 purchased Cataract Refining A
Mfg. Co. with large lubricant plants at Buffalo and Chicago and 12 branches
and warehouses, domestic and foreign. V. 109, p. 1994.
In May 1918 in¬
creased the authorized capital stock from $1,000.000 ($970,000 outstanding)
to
$2,000,000; $500,000 of the new stock was offered to shareholders at par
finance the increasing business.
V. 106, p. 1583, 1685, 1905, 2015;
to
V. 102, p. 1723.
The stockholders on Nov. 10 1920 authorized an increase
n the authorized common stock from $2,000,000 to $4,000,000, par
$100
also
authorized
$100,000
taken by the
cum.
pref.
stock,
par
$25, of which
and $451,540 was offered at par ($25)
stockholders of record Nov. 10 1920 on the basis of one share of
was
to common
$1,000,000 of 8%
managers
pref. for each share of common held.
Pref. stock is redeemable after 3
years from Jan. 1 1921 at $28 75 per share and will be entitled to the same
amount in the event of
liquidation
or
dissolution.—V. Ill,
p.
2432.
Divi;%: May
V.
-
ttiiuiNuv.
iyi5#,
none since to
107.
May 1921.
OFFICERS.—Henry Fletcher, Chairman; W. G. Moncrieff, Pres.;
George Elliott Brown, V.-Pres. & Sec., and John T. Lee, V.-Pres. & Treas.
Office, 522 Fifth Ave., N. Y.—(V. Ill, p. 1758, 1849, 1957, 2050. 2432.)
SWEETS CO. OF AMERICA.—ORGANIZATION.—Incorporated In
Virginia about July 1919 and acquired entire outstanding Capital stock
of the Sweets Co. of America.
Inc., including the Capital stock of the Lance
Cough Drop Co., Inc.
Products, tootsie rolls, nut tootsie rolls and Lance
Cough Drops are sold to over 2,700 wholesale dealers who act as distributors
Factory buildings located in N. Y. City.
V. 109, p. 379.
Has made
arrangements with the United Cigar 8tores Co., the Metropolitan Tobacco
Co., New Jersey Tobacco Co., Schulte Cigar Stores, Union News Co. and
the stores of the Woolworth Company, for the distribution of Its products
Will erect a new plant at Plymouth, N. O., at cost of $100,000 for the
grading and roasting of peanuts.—V. 109. p. 585.
Stockholders of record April 10 1920 had the right to subscribe at $2
per share to 150.000 unissued shares in the ratio of one new share for each
shares held.
V. 110, p. 1533.
DIRECTORS.—Milton Dammann, Leo Hlrschfeld, Joseph Kaufman,'
F. Fletcher, Leon Schinasi, Malcolm Summer, Calvin Truesdale;
two
H.
52¥"Fifth" Ave,
Apr!
1921 2%
6 g
3 July 1 1944
FA A 15 Aug 15 1921
7 g
A
A
O Oct
F
A
A Feb 21
A
N Y
New
and Chioyto
N Y A PC
Ex N B A Chic
and New York
York
Am Ex N Bk.
N Y Am
Chicago
8% Checks mailed
15 1925
'22
B. Rosen, Peter J.
Maloney,
Fehn.—(V. 112, p. 1985.)
SWIFT & CO.—ORGANIZATION.—Incorp. In Illinois April 1 1885.
V. 95, p. 1547.
Company owns and operates 27 packing plants, the prin¬
cipal ones being located at Chicago, Kansas City, South Omaha, South
St. Joseph, East St. Louts, South St Paul, Fort Worth, and Denver; and 41
plants for the manufacture of creamery butter and the collection of poultry
and eggs for sale through its distributing agencies.
Branch houses and
sales agencies number over 500 and serve practically every important city
George L. Storm, Banjamin Block, and Henry A.
In the world.
Owns and operates over
7,000 refrigerator cars
essential to
its business.
V. 95, p. 547,1547; V. 96, p. 1133; V. 101, p. 698; V. 108, p.
688.
Suit, V. 102, p. 1723.
Canadian Co., V. 105, p. 1809, 1198.
In Aug. 1918 the South American and Australian properties were organ¬
ized as Oompanla Swift Internacional
Ltd, under the laws of the
Argen¬
tine
Republic, with a stock of $22,500,000
Argentine gold, divided
Into
1,500,000 shares of $15 each, all one class, fully paid and n on-assessable ,aU
outstanding.
Each stockholder of the Swift A Co. of record Aug. 31 1918
was given until Oct. 15 the opportunity of exchanging 15% of his holdings
In Swift & Co. at par for equivalent amount of capital stock in Interna¬
evidenced by the First Trust of Chicago certificates of de¬
by thus exchanging $22,500,000 of stocks In foreign
Swift & Co.obtained the l atter as a
quick asset, alnce soid (see below), for requirements of business.
Meantime
dividend obligations are materially lessened. V. 107, p. 701, 910.
Dividends paid by Swift International: No. 1, Feb. 20 1919, 8%; since
to Feb. 21 1922, 8% semi-annually.
Swift International annual report for
cional at par,
posit.
The
company
subsidiaries for equal amount of stock of
1920 in V. 112, p. 2l86.
The aforesaid exchange In Oct. 1918
stock
to
$127,500,000
had reduced the outstanding capital
26 were offered
of exchanging one-tenth of their
when the holders of record Oct.
until and incl. Nov. 30 the further option
($100) shares for an equal par value In the $10 shares of the $12,750,000
Libby. McNeill & LIbby (canners). held In 8wift & Co. s treasury.
the stock to about $114,750,000.
The $35,250,000
stock of
This further reduced
treasury stock was offered at par to
1919. V. 108, p. 2130, 688.
shareholders and employees in May
1919 the National Leather Co. was Incorporated In Maine with
$30,000,000 of authorized capital stock In shares of $10 each, to take over
the company's tanning and leather lnterosts, Ac.
Swift shareholders of
record Sept. 10 1919 were allowed to subscribe as par in cash for two of the
$10 shares for each $100 share bela in Swift & Co.—V. 109, p. 782.^
Reply In 1918 to report of Federal Commission, Ac.. V. 107, p. 186. 612,
808 V. 109. p. 229.
Government orders, V. 108. p. 409.
The "Big Five" Packers, in Dec. 1919 agreed to the entering of a decree
in the Government suit requiring them within two years to give up their
stock yards and other outside interests (except their handling of eggs, but¬
ter, poultry and cheese, which is left for future consideration) and in genera!
to confine their operations to the wholesale meat business.—Y. 109, p. 2363.
Justice Stafford in the District of Columbia Supreme Court on April 12
1921 approved a new plan under which Swift & Co. and Armour & Co. are
to divest themselves of their interests in stockyards and stockyard terminals
railroads in accordance with the Government decree.
The plan was agreed
to by the Department of Justice.
The packers were to deposit their stock in the yards and terminals with the
Illinois Trust & Savings Bank, Chicago, within 30 days, for administration
by two trustees, Henry W. Anderson, Richmond, Va., and George Suther¬
land, Salt Lake City, Utah, until sold, which must be within one year.
For further details, including list of properties to be sold, compare V. 112,
P- 1626'
xt.
STOCK.—The shareholders voted Nov. 8 1916 to increase the capital
stock from $75,000,000 to $100,000,000, the new stock being offered at par
to shareholders to whom on Nov. 25 a cash dividend of 33 1-3% was pay¬
able, this cash being applicable to payment for the new stock.
See below
and V. 103. p. 1796.
The shareholders voted May 13 1918 to increase the capital stock from
$100,000,000 to $150,000,000. $25,000,000 of the new shares being offered
to the stockholders of record May 18 1918 at par, payable June 15. to
provide additional cash for the increasing business, and the remaining
$25,000,000 Issued July 15 as a stock dividend of 25% to holders of record
May 18 on account of Increased value of the property as shown by recent
appraisals
V 106. p. 1583 1692 2127. 2234.
,
.
DIVIDENDS.—1888 to 1894 lncl.. 8%; to 1895 July 1898 Incl.. 6%;
Oct
1898 to July 1915, 7%" Oct. 1915 to and incl. Apr.l 1921,8% p.a.„
(2% Q.-J.)
On Oct. 20 1917 paid 2% extra.
On Nov. 25 1916 there was paid to shareholders of record Nov. 8 a cash
dividend of 33 1-3% in order to distribute $25,000,000 of accumulated earn¬
ings.
See V. 103, p. 1416, and "STOCK" above.
V. 108, p. 1420.
On July 15 1918 a stock dividend of 25% was paid as above stated out of
adjusted values of fixed assets as reappraised to values current Jan. 1 1914V. 106, p. 2127.
Appraised value of physical properties Nov. 2 1918,
In Aug.
_
.
......
588,404
$205,547
864,498
Surplus
Total surplus.
to
in V. 112, p. 1641.
$2,967,983
1,634,031
165,000
311,132
652,273
•
.
Samuel F. Williams, Alfred H. Messing, H.
Co. and
1,386,827
$1,865,995
(subject to Federal taxes)
DIRECTORS.—Henry R. Carse, Pres.;
.
2H
New
New
16
25.000.000
100 Ac 40,000,000
15 l,500,000sh
1,627,872
—-
Net income
income
text See
8
100 150.000.000 8 in 1920
J
5 g
29.591,000
500 Ac
500 Ac
phen, Vice-Presidents;
Net
1.806,200 See
1H
2%
2 %
^F
See text
5,309,931
1.024,967
Cr712,731
rubles and Russian accounts
Railroad and ship expenses..
REPORT.—For year 1920 in full
Calendar Years—
1920.
Gross sales
$12,746,805
8
See text
593,991,824
from construction and sales.
$35,179,794
profit from operations..
u,
5,026,740
Expenses
1,188.516
Interest, discount and other income
.
Cr3,276,761
Deprec'n, inventory adjust't & contingent reserve.
3,621,118
Gross earnings
stock at rate of 8% from Dec.
1.704.800
...
Gross
p.
Dec 20 1920 50c Checks mailed.
May
2 '21
May 16 '21
May 16 '21
1
'19
text Nov
,
.
1914
1920, in V. 112, p. 1032, showed:
[Submarine Boat Corp., Electric Boat Co., Electro-Dynamic
Subsidiaries.]
on
1
text
6
8
10
REPORT .—For cal. year
Loss
See
Where Interest and
Dividends are Payable
Places
-V
'•■•••
' // ■'
,■
See text
$6,000,050
2,325,400
25
Gold notes $25,000,001 ca I (text)
Ic.vvvv.c*
Gold notes $40,000,000 call (text)
Ic.xxxcf
Swift.International (Comp. Swift Internacional)—Stock
••
[Vol. 112.
INDUSTRIAL STOCKS AND BONDS
330
V. 108. D.689.
BONDS.—The
1st
5s.
dated
July
1
.
,
A
1914 ($50,000,000 auth. Issue),
secured by ail property, plants and branch houses and further
the pledge of stocks of subsidiary companies representing an Investment
are
by
by
of over $15,000,000. V. 98, p. 160, 242, 392, 528; V. 99, p.
1678. 1515; V 100, p. 292, 560, 647.
Of the S50,000,000 1st Mtge. 5s on
Oct 30 1920 there had been issued and retired by s. f. $3,779,000; $29,591,000 were outstanding, $1,630,000 were reserved for corporate purposes and
the remaining $15,000,000 may be issued only for 75% of the cost of addi¬
tional real property upon which the mortgage shall be a first lien.
Sink¬
ing fund 2% per annum.
the company
NOTES OF 1919—Auth. and Issued. $25,000,000. V. 108. p. 688
Redeemable at the option of the company as a whole or in multiples of
$1,000,000 on 30 days' notice on Aug. 15 1919 at 102 and int.; on Feb. 15
1920 at 101 H and int.; on Aug. 15 1920 at 101 and int., and on Feb. 15
1921 at 100^5 and int.
While any of these notes are outstanding no new
mortgages, except purchase money mortgages, shall be made, but this shall
not prevent the emission of the unissued 1st M. bonds
Notes of 1920.—The $40,000,000 7% notes dated Oct. 15 1920 are redeem¬
able as follows: On April 15 1921 at 102 and int., and at H% (ofPa|0 less
each 6 mos. thereafter to Oct. 15 1924, and on April 15 1925 at 100& Int.
notes are out¬
money mortgages
placed on the property
the emission of the
authorized and unissued First Mtge. 5% bonds and the execution of such
supplemental mortgages as may be required under terms of said First Mtge.;
(ft) so long as any of these notes are outstanding company will at all times
maintain current assets equal to an aggregate amount of at least 1
times
all current liabilities, plus the amount of these notes outstanding. V. 111»
The trust Indenture
provides that (a) while any of these
standing and unpaid no new mortgages except purchase
for the acquisition of additional properties shall be
and assets; this provision, however, shall not prevent
p.
1479.
MAY, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on first page]
STOCKS AND
BONDS
Date
Par
Amount
Bate
When
Bonds
Value
Outstanding
%
Payable
331
Last Dividend
and
Places Where Interest and
Maturity
Dividends
are
Payable
T«mple Coal Co—
First & coll trust M $2,600,000 g if red 101
Temtor Corn & Fruit Prod.—Class A stock
PeP.xc*
Class B stock
1st mtge & coll g due $75,000 s-a red 103
MeSt.xxxc*
Tennessee Coal. Iron & RR Co—Stork com $50,000,000 auth
Preferred stock 8% cumulative
General Gold Bond M $16,000,000 g
Un.xc*
Alabama Steel & Shipbuilding preferred 6% oum guar..
First mtge gold guar s f red 110 since Jan 1907. BaJt
Cahaba first mtge $1,100,000 g gu s f red at 110
Ce.zc*
1914
$1,000
None
None
1921
500 Ac
100
100
iwi
1,000
1898
"""l'.OOO
.
Potter Ore 1 st M $700,000
g guar
Jo 'text)
s f
H share...*
Tennessee Copper & Chem Corp—800,000 shrs cap stock..
Sub Co—Tenn Oop Oo 1st M
g red Nov 1 *18 at 110 A int..
Texas Company -storK $161,450,000.
3-year s f notes call 101 auth $35,000,000
c*
Texas Pacific Coal & Oil Co—Stock $10,000,000
a
Nqt Including $1,000,000 pledged
REPORT.—Report for
year
aa
1.000
None
1915
1917-18.
$
$
1.200,000,000
13,870,181
1,200,000,000
21,157,277
(8)10,063,460
3,806.731
p.
10
p. 159.
1916-17.
$
875,000.000
34,650,000
(8)9,000,000(10)10,000,000
(Companla Swift Internaclonal).—See
TEMTOR CORN & FRUIT PRODUCTS CO.—Organized on Oct. 3
Acquired the entire outstanding common stock
Clymer Mfg. Co. and the Granite City, 111., plant of the Corn
Products Refining Co.—Compare V. 112,
p. 1406.
1919 under laws of Illinois.
of the Best
CAP. STOCK.—Authorized, 200,000 shares Class A
(no par value) and
60,000 shares Class B (no par value); outstanding, 137,500 shares Class
A
and 55,550 shares Class B.
Class A stock has preference as to divs.
up to
$4 per annum, after which Class B stock receives $4
per annum; then both
classes share alike.
In the event of dissolution, Ac., Class A stock is
to
receive $50 per share, then Class B $50, after which both
classes share alike.
Class A and Class B stock have equal
voting rights.
BONDS.—First mtge. A coll. trust 8% gold bonds are due
$75,000 semi"
annually, April 1 1922 to Oct. 1 1931.
V. 112, p. 1406.
DIVS.—Quarterly divs. of $1 per share on both classes of stock
paid from Jan. 1 1920 to Oct. 1 1920 inclusive.
The Jan. 1921 divs.
deferred.
were
were
REPORT.—The annual report the year ended Dec. 31
1920, shows a ne*
alldeductions.incl. taxes, depreciation and reserves!
$6,774,194, and net profits were $263,166.
Dividends were
paid in 1920 as follows: $59,500 on the Best
Clyme,r Pref. stock and $769,894
on the Temtor Corn & Fruit
Products stocks.—Balance sheet as of Dec. 31
1920, V. 112, p. 1406.
deficit of $248,006 after
net sales totaled
OFFICERS.—Chairman, L. B. Best; Pres. & Gen. Mgr., Milton GClymer;
V. Pres., Louis Rosen;
V. P. & Treas., R. King Kauffman
Sec., R. R. Bang.
Office, Chicago, 111.
(V. 112, p. 1032, 1406).
TENNESSEE COAL. IRON & RAILROAD COMPAN Y—ORGAN
IZATION.—Owns rail, plate, bar and steel mill, blast
furnaces, coal mines;
Iron mines, foundries, Ac., in Tennessee and
Alabama.
V. 70. p. 558
V. 84, p. 1179; V. 105, p. 295.
In 1906 Tenn. Coal & Iron and Republic
Iron & Steel companies jointly
purchased about 1,800 acres of iron or*
lands near Birmingham, Jointly
guaranteeing $700,000 Potter Ore 5% bonds.
V. 83. p. 1416, 973.
Shipyard, V. 105. p. 825; V. 106, p. 1583.
On Nov. 30 1899 the Alabama Steel &
Shipbuilding Oo. plant was opened
at Ensley City.
The plant has 9 open-hearth furnaces, and is leased to
the Tennessee Coal, Iron A Railroad
Co., which guarantees its 6% bonds,
of which $730,000 are
outstanding and $130,000 in the Tennessee Coal A
Iron treasury and its preferred
6% stock, of which $126,300 is outstand¬
ing and $313,700 in Tenn O. A I. treasury.
V. 70, p 591.
The commcD
stock, all owned by Tenn. Coal, Iron A RR. Co., carries control. V. 66
p. 1002. 1235: V
67 d
127 801; V
70 p
1196: V. 72. p 584
In Nov. 1907 the United States Steel
Corp. acquired substantially all of
the Common stock. V.
85,p. 1212, 1282; V. 86, p. 730; V. 104, p. 2457;
V. 92. p. 735; V. 94. p. 844; V. 96.
p. 871; V. 98, p. 923; V. 100. p. 991.
BONDS.—Of the $15,000,000 Gen. gold 5s of 1901.
$7,076,000 were out
standing Dec. 31 1920 In the hands of the public and $5,104,000 were in
the treasury or held by the U. S. Steel
Corp.; the $5,104,000 under¬
lying 6s matured and were paid Jan. 1 1917, leaving the Generals as straight
1st mtge. on all the properties covered
by that mortgage, excepting only
those included in the lien of the $213,000 Cahaba
Coal Mining Co. 1st M
6s of 1892 and the $730,000 Alabama Steel &
Shipbldg. Co. 1st M. 6s of 1898
forbothof which issues Gen. Mtge. bonds are reserved.
V. 103, p. 2244.
V
72. p. 876.940.989; V. 73. p. 86. 554 1217: V. 77.
p. 93. 2162; t, 80, p. 169
^.OFFICERS.—Pres.. George G. Crawford; V.-P., H. C. Ryding; Sec. A
Treas., L. T. Beecher, Birmingham, Ala.; Asst. Sec., Thomas
Murray.
71 B'way, N. Y.—(V. 104. p. 2457; V.
105. p. 295; V. 106, p. 1583.)
CHEMICAL CORP.—ORGANIZATION.
Organized as a holding company (per
—Incorp. In N. Y. Oct. 14 1916.
plan in V. 103.
p. 1512), with power also to do a mining ana chemical busi¬
On Dec. 31 1920 owned
194,201 shares of the 200,000 shares of stock
of the Tennessee Copper Co. of N
J., whose
ness.
mines, railway, smelting works
properties include: 3
copper
(5 furnaces
and sulphuric acid plants).
The contract to turn over its sulphuric acid
output to International Agri¬
cultural Corp. terminated Dec.
31
1920, but in Mar. 1920 it was stated
that new contract, expiring Dec. 31
1923, had been executed with the I.A.C.
and other large consumers for a
portion of the
company's acid production
materially higher prices than named in the old contract.
(V. 110,
p.
1420
In 1919, with view to more profitable employment of the
unsold portion of its output of sulphuric acid
(approximately 350.000 tons
of
60 degrees Baume per annum!, had out of the $5,000,000
pro¬
at
.
ceeds of the
new
stock
issue
erty in Florida and
below
mentioned
bought
a
phosphate
prop¬
was proposing to construct a number or acid
phosphate
plants. V. 108. p. 2439; V. 109, p. 279; V. 106, p. 934. 2226. Acid
plant, see V. 107, p. 409. Acid prices, V. 107, p. 1389.
Litigation with
Russian Govt, was settled in Nov. 1918
by payment of $1,000,000 from
company's reserve of $1,140.000 set aside for that purpose. V. 107. p. 2015,
2296; V. 108, p. 1732.
In Aug. 1919 Southern Agricultural Chemical Corp.
was organized with $1,000,000 stock as
selling agency. V 109, p. 894.
fertilizer
STOCK.—The stockholders on May 28 1919 auth. an increase in th®
capita] stock from 400,000 shares to 800,000 shares (no par value).
Th"
holders of
v. t. c. of record June 9 1919 were
given the right to subscrib6
$12 50 per share for the 400.000 new shares of stock. V. 108,
p. 1732'
1819, 2028, 2439., Stock listed on N. Y. Stock Exchange.
Initial dividend
of $1 paid in May 1918; none since.
Y. 106, p. 1371.
Ail the stock is in
a
5-year voting trust, Adolph Lewisohn, Sam A. Lewisohn and Wm. B.
Joyce being voting trustees.
On stock of old Tennessee Cooper Co. 3%
was paid in
April 1916; none thereafter until May 1918, when 8% was paid.
V. 107, p. 1389.
at
REPORT.—For
received,
cal.
year
$363,715; expenses,
$383,339.
6 text
*
M
i
July 1 1951
Jan 1 1921
Jan
Deo
Deo
71
3%
1 1931
Broadway, New York
do
1 iy30
1 1922
do
do
do
do
do
Hanover Nat Bank. NT
May 15 1918 $1
&
N Nov 11925
Company's office. N Y
Q-M31
N
Y
Cal.
1920, in V. 112, p. 1975 showed: Interest
$199,513; balance, $164,202; total surplus,
Results for
Year—
1920.
Operating Company,
1919.
Tennessee
I
Copper Co.
1920.
1919.
Oper. profInt., dep.,Ac
$152,145 def$136,231 Dividend...
619,183
604,612 [Balance
df$467,038 def.$740,843
Production in 1920, copper (co.'s ore), 10,358,237 lbs.
(against 10,414,815
in 1919) acid output, 333,629 tons,
against 266,627 tons; customers' ore,
116,644 tons.
OFFICERS.—Adolph Lewisohn, Pres.; Sara A. Lewisohn, V.-P.; E. H
Westlake. V.-P A Treas.; F. M. Loper, Se
N. Y. office, 61 Broadway.
—(V. 112, p. 1875, 1975.)
(THE)
TEXAS
COMPANY—ORGANIZATION.—Incorporated
in
April 7 1902 and is engaged in the production, refining and dis¬
of petroleum and its products.
In Nov. 1920 held crude oil
producing properties with daily production of 60,000 barrels, owning
232,000 acres in Texas, Okla., and La., and leasing 2,455,000 acres in
Texas, La., Okla., Kan., Wyo., Mexico, Ac. Also controlled 2,442 miles,
of pipe line reaching Texas, Oklahoma and Louisiana oil fields, and owns
5
refineries (combined
capacity
100,500
bbls.
daily) located at Tulsa
Okla., Port Arthur, Dallas and Port Nechee, Tex. (near Beaumont), and
Lockport, 111.; also 4 topping plants, tank steamers, barges, Ac. V. 88, p.
831; V. 86, p. 606; V. 93, p. 1480; see V. 98, p. 767. Application to list,
V. 91, p. 960; V. 93, p. 875. In October 1919 was drilling to determine the
value of the sulphur discovered on its property near the Gulf In Hosklns
Mound, Brazoria County, Tex. V. 107, p. 1485.
The $14,000,000 stock of the Texas Pipe Line Oo. and the
$6,000,000
stock of the Texas Pipe Line Oo. of Oklahoma is all owned. (V. 106.
p. 186.)
The first named company on July 30 1917 took title to the Texas Oo.'s
1.451 miles of pipe line in Texas and Louisiana, excluding gathering lines,
and the Okla. co. owned 495 miles, excl. gathering lines, V. 105,
p. 78, 613.
In 1913 $3,000,000 stock and $2,000,000 convertible bonds were issued
to acquire securities of Producers Oil Co.. whose
property was taken over
in 1917.
V. 97. p. 527; V. 94. p. 491; V. 105. p. 1715, 1904; V. 106. p. 186.
As to purchase by Midland Securities Co
see V. 105, p. 1904.
In Oct. 1918 the Texas Pipe Line Oo. had completed the 8-inch oil
pipe
line from Fort Worth, Tex., to its producing
properties near Ranger, Tex.,
about 100 miles.
Extensions. V
107
n.
1389; V. 106, p. 1692.
In July 1920 sold control of the Central Petroleum Co. to the Union
Oil Co. of Delaware. V. Ill, p. 385, 500.
Texas
tribution
,
STOCK.—For changes in capitalization prior to 1920, see "Railway A
Industrial" Section for Nov. 1920.
The stockholders on Nov. 18 1920 ratified an increase in the
capital stock
from $130,000,000 to $143,000,000, to provide for the
payment of a 10%
payable March 31 1921 to holders of record Dec. 10 1920.
A
further increase to $164,450,000 was ratified on March 31 1921. V.
112,
stock dividend
The additional stock was offered at par ($25) to stockholders of
April 29 1921 on the basis of 15% of holdings. V. 112, p. 1626.
1406.
p.
record
Cash Div. Record Since 1907-08, Fiscal Years (%)—Also 50% Stock June 191
q
1907-08 1908-09 1909-10 1910-11 1911-12 1912-13 1913-14 1915-19 1920 1921
12
12A5ex.
12
10
5
6
8^
10
11 ^ text
In 1921: March
31, 3%; June 30, 3%.
Stock dividend,
see
below.
DEBENTURES.—The 6% convertible debentures were called for pay¬
July 1 1920. V. 92, p. 398, 467, 597; V. 93. p. 875; V.98, p.843The $35,000,000 3-yr. 7% notes, offered at 99 A int. in Mar. 1920, are
ment on
callable
as a whole or by lot in amounts of not less than
$5,000,000 at 101 A
Int.
Beginning Sept. 1 1920 the company shall provide a semi-annual
sinking fund or $2,600,000 to be applied to the purchase of notes at not
exceeding 100 and int.
Outstanding on Mar. 1 1921, $30,249,000.
V.
110, p. 1194.
REPORT.—For year ending Dec. 31 1920, in V. 112, p. 1139, showed:
—Years end. Dec. 31
Years end. June 30—
1920.
1919.
1917-18.
1916-17.
Gross earnings
Net earnings-
$142,806,331$102,986,597 $80,260,634 $54,339,050
44,446,836
8,770,969
forbad, Ac., accts.l
586,494
Replace, of marine equip}
Add prov. for taxes
4,000.000
Dividends
12,475,000
29,204,117
6,768,228
Sink, fund A depr. acct_
Prov.
34,873,403
5,297,988
/
90,962
\673,511
3,000,000
7,718,750
22,907,924
2.047,217
125,298
136,180
1,304,940
7,468,185
6,243,750
1,000,000
4,532,500
Balance to
Total
&
a
See
5 1920
5 1920
June 30 '21 3% Checks mailed
M
A
7 g
S Mar 1 1923
30,249,000
Chase Nat Bank.
8.448,048 See text. Q—M 30 Mar 31 '21
1,000
TEMPLE COAL CO.—See issue of June 1918 and Y. 106,
p. 821; V. 110.
1297.
TENNESSEE COPPER
Penna Oo forlus.&cPhlla
$1
$1
O Apr '22-Oct '31 N
Y, Chicago or St Louis
May 1 1914 1 •%> Offior., Birmingham, Ala
Nov 1 1919 2%
do
do
-
If
See text
July 11924
Oct
§"
25
12,157,277
24,650,000
Pres., Louis F. Swift; Treas., L. A. Carton; Sec., C. A. Peacock.
Office,
Chicago.—(V. 112, p. 159, 168, 660, 752, 941, 1032, 1290, 1525, 1626.)
SWIFT INTERNATIONAL
8wift & Co. above.
J
Oct
A
8 g
1,500,000
text
32.528.698 See
79.200
8
7,076,000
126,300
730,000
213.000
5 g
91,000
794,201shrs
$600 Ac all,141.500
1920
A
collateral with Tenn Cop & Chem Co
rp-
1918-19.
$
Balance, surp_def.6,829,618
1,000
1906
ending Oct. 30 1920 in V. 112,
1919-20.
Business done...1,100,000.000
Net earnings
5,170,382
Dividends
(8)12,000,000
1892
J
5 g
$669,000
137,500 sh. See text
55,000 sh. See text
surplus.__$18,614,372 $10,952,666 $14,392,242 $15,192,026
profit A loss surp-$83,342,793 $77,505,491 $54,667,430 $40,270,189
Chairman, E. C. Lufkin; Pres., Amos L. Beaty; V.-Ps., T. J. Donoghue,
R. C. Holmes, G. L. Noble, W. A.
Thompson Jr., O. N. Scott; Sec., C. P,
Dodge; Treas., W. W. Bruce.
N. Y. office, 17 Battery Place.—(V. 112
p.
380, 856, 1139, 1290, 1406, 1626.)
TEXAS PACIFIC COAL & OIL CO.—President Penn in Jan. 1921 re¬
ported as follows: "The company has, not including the shallow wells in the
old Strawn pool, 191 producing wells averaging 4,000 bbls.
daily, 44 gas
wells and 116 wells not
are being cleaned out and will be
material is received.
With these wells in
operating but which
put under pump as rapidly
as
operation our production should be materially increased.
Under the joint
operating agreements with other companies there were 253 oil wells and 12
gas wells producing on Dec. 15 1920 with a daily average production of
11,000 bbls., of which the Texas-Pacific Coal A Oil Co. gets one-half.
This indicates a production for the
company of about 9,500 bbls. daily, ex¬
clusive of the Strawn wells.
On the
same
date there
were
also 108 of these
joint wells which were being cleaned out preparatory to being placed under
In addition, the company, under its joint operating contracts, is
yet to receive a maximum of 178 wells, to be drilled free of cost to it, of which
a number are conditional
upon their production.
"Of the company's 277,132 acres of leaseholds in the North Central Texas
fields, of which 170,771 acres are in Stephens County, 67,632 acres are op¬
erated by the company and 78,865 acres ander
joint operated agreements,
leaving 130,625 acres unoperated.
The company also owns in fee 69,933
acres.'7 V. 112, p. 168.
Voted April 17 1918 (V. 106, p. 1371):
(1) To change the name from Texas
pump.
Pacific Coal Co.
to "Texas Pacific Coal A Oil Co. ' (2) To authorize re-,
par value of the shares from $100 to $25 whenever the direc¬
deem proper.
(3) To ratify the amendment of certificate of
Incorporation filed in Texas Mar. 19 1918.
(4) To authorize the directors
to increase the capital stock from
$4,000,000 (V. 104, p. 2349) already is¬
sued to a total amount of $5,000,000.
(5) To organize a corporation under
the laws of Texas with power to engage in the business of
prospecting for,
producing and marketing oil and gas.
V. 107, p. 1583.
The stockholders voted April 16 1919 to increase the authorized capital
stock from $5,000,000 to $6,000,000, the new stock being offered at par to
ducing the
tors
shall
'
Date
6J
&c., see notes on page
Par
Amount
Rate
When
Value
Outstanding
%
Payable
and Maturity
Texas Power & Light Co—Pref 7% cum red 115---First M J30.000.O00 autb gold red 105 begin 1917—Baxxxc*
Tide Water Oil or N J—Capital stock $100,000.000
10-year gold bonds redeemable (see text)
xxxc*
Tobacco Products Corp—-Com stock $25,000,000
Pref (a & d) 7% cum red 120 after 3 years $8.000.000
Dividend scrip (as of Dec. 31 1920) see text
Transcontinental Oil Co—Stk 2.000.000 sha (no
Places
Last Dividend
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations,
[VOL. 112.
STOCKS AND BONDS
INDUSTRIAL
233
$100
1.000
1912
100
500 Ac
100
100
1921
""None
bonds out)
7
Q—F
$4,000,000
J
&
D
5 g
10.205,000
Text
39,726.100 See text
FA A 15
12,000,000
See
text Q-—F 15
See text
Q-J
8,000.000 7 in 1920
x
1,107,481
2,000.000
Where Interest and
Dividends are Payable
May 2 1921 1H Checks mailed
N Y
Bankers Trust Co.
June 1 1937
Mar31 1921 4%
151931
Feb
See
text
Apr 1 1921 IX Checks mailed
7
Excluding $200,000 pledged.
i
,
000 was offered to stockholders of record May 22 1920 at
2199.
In*Nov, 1919 the shareholders were given the right to
$10
a
par.
Calendar Years—
Operating
Total
$15,681,888 $15,352,146 $15,981,734
income
$3,044,116
Depreciation and depletion
subscribe at par,
stock of a new earthen products company,
the Thurber Earthern Products Co.
V. 109, p.
Federal
taxef
$4,080,915
$6,lo7,978
$5,161,222
$3,660,258
$375,223
3,115,498
292,110
4,270,024(16)5246,412(19)6060,929
—
cash
1898.
REPORT.—For calendar year 1920, in
V. 112, p. 1863:
'
1920.
Calendar Years—
Gross
earnings...
—;
Operating profits
6,927,876
1,475,108
2,438,838
22,211,872
16,913,081
1,399,818
4,008,793
14,156,173
2,624,549
Deprec., depletion, oil & gas dev. &
Dividends (In cash and stock)
Surplus for year
Total surplus Dec. 31
^DIVIDENDS—
Fedi taxes..
—
;----
Y.-P.
Byron D. Benson.—(V. 112, p.
extra of
1919.
941,
Co., Inc. (N. Y.), Falk Tobacco Co., Inc. (Va.), and approximately 50% of
vhe capital stock of Stephano Bros,. Inc. (Va.), which companies own,
*mong others, such well-known brands of cigarettes as Melachrino, Schinasi
Bros. Naturals, Rameses, Milo, Nestors and Herbert Tareyton, and also
was
Chairman, Joseph O. Baldwin Jr.; Pres., J.
Willett; Treas., EL J. Marston, 24 Broad St.,
1748,
1863,
Roby Penn; Sec., N. W.
N. Y.—(V. 112, p. 168,
•wn
107, p. 2287; V. 109, p. 1898.)
POWER & LIGHT CO —ORGANIZATION, AO — Incorp.
May 27 1912 in Texas and took over lighting properties in Texas.
Does
entire commercial electric light and power business in ninety-four com¬
munities, and gas business in Waco and Paris.
Company supplies at whole¬
sale, under long-term contract, all electrical energy for the electric light and
Corslcana and supplies at wholesale electric energy to
Total population served Is estimated at 325,000.
Controlled by Southwestern Power A Light Co. by ownership of
Corsicana
the entire
($10,000,000)
except directors' shares.
See American
preceding page.
V. 95, p. 1126; V. 96, p. 1428;
Y. 97, p. 954; V. 102 jp. 1442.
Has important long-term contracts with the
Texas Electric Ry. Co. for supplying it with electrical energy, Ac.
Also
supplies the street railways in Paris, Temple and Belton and the Southwest¬
ern Traction Co.'s interurbaii railway between Temple and Belton.
V. 95,
p. 970.
Is inter-connected with Fort Worth Power A Light Co. and Dallas
Power A Light Co. for interchange of power to insure reliability service.
Description, see V. 97, p. 114; V. 99, p. 1915.
The stockholders on July 5 1916 authorized an increase in pref. stock from
$3,000,000 to $4,000,000 By sale from time to time.
V. 103, p. 417. The
$1,425,000 preferred that was subordinated and issued as second pref. has
been converted into preferred.
Div. on pref., IX % quar., paid May 1912
stock
common
Power A Light Co. on a
to May 1921.
BONDS.—The 1st 5s ($30,000,000 auth.) are Issuable for 80% of com
of extensions and additions, but only while annual net earnings are equal
Bonds are re
In part by pur¬
the
sale
•f $1,250,000 theretofore pledged to secure $900,000 gold notes of 1917,
called for payment and in Jan. 1920 was Increased to $10,405,000, the
to twice interest on bonds, including those to be Issued.
deemable as a whole on any interest day at 105 and Int. (or
chase for sinking fund) on 6 weeks' published notice.
In Dec. 1918
amount in the hands or the public was increased to $10,205,000 by the
|200.000^additional bonds being pledged. See below, V. 107, p. 2383.
EARNS.—12
mos.
to Mar. 31 :J
1920-21
1919-20
—
Gross.
Net.
Charges. Surplus.
$5,149,275 $1,436,254 $706,353 $729,901
3,663,227
1,253,458
655,488
597,970
See Amer. Pow. A Lt. Co., V. 102. p. 1434.—(V. 107. p.
and little cigars.
In Jan. 1919
V. 108, p. 282.
These companies carry on an extensive business throughout the U. S.,
»nd also operate factories and depots in New York, Richmond, Philadelphia,
TEXAS
power co. in
and Terrell.
prominent brands of smoking tobaccos
purchased Robert Harris A Bro., Inc.
1875.)
TEXAS PACIFIC LAND TRUST.-KV.
569, 660, 1391, 1875, 1985,2092,2199.)
TOBACCO
PRODUCTS CORPORATION.—ORGANIZATION.—
Incorporated In Virginia Oct. 1912 and has taken over concerns manufac¬
turing cigarettes, smoking tobacco and little cigars.
Owns entire capital
stock of M. Melachrino A Co., Inc. (N. Y.), Melachrino Tobacco Trading
«to., Inc. (N. Y.), Nestor-Gianaclis Co. (Me.), the Surbrug Co. (N. J.),
Khedivial Co. (N. Y.), Schinasi Bros., Inc. (N. Y.), Prudential Tobacco
5% in cash was paid Oct. 30 1918; also Dec. 31 1918 and
In June 1919 paid an extra of 7H% and in Sept. 11%
paid.
In Jan. 1920 5X% extra; March 1920, 5X% extra;
June 1920, 1% in cash and 2% extra in stock; Oct. 1920 and Jan. 1921,
2X % in cash and 2% extrain stock; March 31 1921, 2X % in cash.
An
March 31
■extra
-
31 1921 in V. 112, p. 2092, 2199.
OFFICERS.—Pres., R. D. Benson; V.-P. A Treas., W. 8. Benson; 2d
A Asst. Treas., D. Q. Brown; 3d V.-P., Robert McKelvey; Sec.,
6,742,371
June 1920—March 1921.
And extras: see below
(1910 to March 1920.
6% (1H% Q.-J.)
\
Since 1910—
surplus
Earnings for quarter ended Mar.
$20,112,266
15,579,321
income
Other
Balance,
1919.
a
$14,011,023
8,217,273
-
2,298,211
66,350
3,190,890
15,636
—
Outside stockholders
Dividends
470.558
668,881
632,681
-
15,511,176
14,683,265
15,049,207
Income
Other Income—
110. p.
share, for the $600,000
probably to be known as
^
Total business
^
v.
for 9 mos. 1920, V. Ill, p.1957:
1920 (9 mos.)
1919.
1918.
—$45,620,415 $46,828,784 $40,644,352
REPORT.—For 1919, In V. 110, p. 1411;
1919.
V. 108, p. 1615, 1516.
The stock¬
19 to subdivide the $100 snares into ten shares of $10
each.
V. 109. p. 1468. 1898.
The stockholders on April 21 1920 anthorized an increase in the capital
stock ftom $6,000,000 to $10,000,000 par $10).
Of the new stock, $2,000,hareholders of record May 1
holders voted Nov.
612,1751, 2290.
$383.)
Oairo, Athens, Cavalla and Smyrna,
In Feb. 1919 purchased the business
and assets of Philip Morris A Co.,
Ltd., of New York, and transferred same to a new Virginia corporation with
authorized capital stock of $3,000,000, 300,000 shares (all of $10 par
•n
value) of these, 265,000 shares were subscribed for by the Tobacco ProdCorp. at $4 per share, which in turn offered to its shareholders 256,000
ihares at the same price in the ratio of one share of new stock for a share
of the Tobacco Products preferred or common at said price.
V. 108, p.
<189. 789.
acts
CAPITAL STOCK.—The stockholders
voted in Dec. 1918 to increase
$16,000,000 to $20,000,000, and in April 1921 to
V. 107, p. 2015, 2383,
In Oct. 1920 exchanged 12,000 shares of common stock for 6,000 shares
of American Tobacco Co. Common B stock.
V. 112, p. 1021.
The preferred stock (total authorized issue $8,000,000) has preference for
•ssets and is subject to call, all or part, on any dividend date at 120% of
par and dlvs.
No mortgage can be placed on the property without the
•onsent of two-thirds of all outstanding stock.
Stocks have equal voting
power.
V. 103, p. 2339.
The common and preferred stockholders of record July 1 1919 had the
*ight to subscribe at $10 per share for 256,000 shares v. t. c. of no par value,
>f the Tobacco Products Export Corp. (of N. Y.), total auth. issue, 450,000
'hs., in a voting trust for five years; voting trustees, L. B. McKItterick,
Sidney Whelan and Charles R. Stoddard.
V. 108, p. 2336, 789: V. 110, p.
967; V. Ill, p. 1573.
Common stock outstanding Dec. 31
1920, $2,600,000, consisting of
28,000 shares of $100 par value, $2,440,000; and 160,000 shares ($100 par),
for which the corporation received only $1 per share cash and which were
issued under the Virginia law at $1 per share.
the common stock from
$25,000,000.
'18. '19.'20-'21.
See
$150 $3 00 text
—
$4 50 $3 00 —
—
...
—Jan.,10
x 2-year 7% scrip.
Series "A" div. certif.issued May 15 1918 and due
May 15 1920, were paid on the latter date.
Series "B" div. certif., issued
on Aug. 15 1918, were paid at maturity, Aug. 15 1920.
Series "C" certifs.,
were paid at maturity
Nov. 15 1920.
Series "D" certifs. were paid on
Feb. 15 1921; Series "E" certifs. were paid May 16 1921.
In Feb. and May
1920 paid IX% quar.
In Aug. and Nov. 1920 and Feb. and May 1921,
l.H% payable in 2-year 8% scrip.
V. Ill, p. 500, 1573; V. 112, p. 477.
DIVIDENDS— 1913.
Preferred.
1914.
1915.
1916.
'17.
7% annually (1X% Q.-J.)
(cash)
Common (scrip).x.
Common
(stock)..
Common
—
—
—
...
$150
—
,
TIDE WATER OIL CO OF NEW JERSEY.—ORGANIZATION.—
Incorp. in N. J. in Nov. 1888.
Producing, transporting and refining crude
,
Owns (1) through subsidiaries producing properties in Pa., W. Va.,
Ohio, Illinois, Okla., Ky., Kan. and Texas; (2) refinery at Bayonne, N. J.,
New York Harbor (capacity 12,000 bbls. daily), with private docks to
•11.
•n
accommodate
ocean-going steamers and steel tanks, aggregating capacity
2,256,000 bbls.; (3) through a subsidiary 828 miles of 6-inch trunk line, ex¬
tending from Bayonne through the Bradford oil regions of Pennsylvania,
to Stoy, 111., whence via the Illinois pipe line and the Prairie pipe line,
direct connection is had with the Okla., Kansas and Texas fields; (4) 1,929
miles of branch pipe line.
Manufactures gasoline, kerosene, gas and fuel
oils, lubricating oils, wax, pitch, coke, cylinder oils and greases.
The com¬
pany is one of the largest producers of gasoline.
See financial statement to
V. Y. Stock Exchange in 1917, upon listing of stock, in V. 105. p. 79, 82.
1426, 2100, 2372.
Oil Co.
V.
In April 1921 acquired control of the Guffey-Gillespie
112, p. 1985.
STOCK.—The stockholders voted Dec. 15 1919 to increase the
capital
•tock.from $40,000,000 to $100,000,000 and to issue $6,617,400 additional to
stockholders at par ($100) to the extent of 20% of their holdings.
An allot¬
ment of 20.000 shares to the employees was also voted.
Stockholders of
record Dec. 16 1920 were given the right to subscribe to 99,315 shares of
stock
held
(25% of holdings) at par.
V. Ill, p. 2333.
Stock of subsidiaries
b: outsiders Sept. 30 1920, $101,333.
No bonds.
DIVIDENDS.—
Regular
1916.
8%
1917.
8%
BxprV";?vir-vY-u 31, 4%.
17% J2%'10stkPaid m 1921: March
1918.
1919.
1920.
1921.
8%
12
See
8%
4
text
BONDS.—The 10-year told bonds are redeemable, all or in lots of $500 000 or more, at 103^ and int. on or before Feb. 15 1922, and thereafter at
X % less for each half-year or part thereof elapsed, but not less than 100M
2
and interest.
Security.—Bonds are the sole funded debt of the company.
The trust
agreement provides among other things that no subsequent funded obliga¬
tions can be issued which will have priority as to present assets over those
bonds,
nor can
the total funded debt exceed 50% of net assets.—V. 112. o.
509.
Year—
do
do
not
P
p.
1021, showing:
1918.
$3,276,282
V 1919.
$2,072,886
128,611
1,313,583
560,000
1,055,896)
f
\
in scrip
Balance, surplus
556,016
240,000
720,000
(Federal taxes 1920
deducted)
DIRECTORS.—James
M.
Dixon,
$126,025 def$856,593 $1,631,655
B. McKitterick, William H.
L.
Francis M. Collier, J. B. Jeffress Jr., Geo. A. Hardner, Albert
Falk, J. L. Hoffman, Norman E. Oliver, George L. Storm, Leo Michaels
and Stephano Stephano.
N. Y. office, 1790 Broadway.
Pres., James M.
Dixon; Treas., J. B. Jeffress Jr.—(V. 112, p. 1021, 1032, 1171* 1290, 1406,
1748, 1875, 1985.)
Butler,
TODD
SHIPYARDS CORPORATION.
Ill, p. 80, 196, 490,
N. Y.—(V. 110, p. 877; V.
903. 1190, 1480, 2146.)
OIL CO.—ORGANIZATION.—Incorp. in
amalgamation.—Properties (a f owns
996,973 acres of oil and gas lands as fallows: Texas.
185,673 acres; Okla., 300 acres; South America. 810,000 acres; Louisiana.
1,000 acres, the leases numbering upwards of 550 and covering approxi¬
mately 2.400 wells; (b) 25 leasehold properties in seven States (N. Y.,
Penn., 111., Ac ) for distribution and storage; (c) 17 gasoline plants; (d) a
refinery, daily capacity 3,000 bbls., at Boynton, Okla., (e) Inland refinery
just completed at Fort Worth, Tex., capacity 5,000 bbls. a day, (f) pipe line
from the Inland refinery to the Duke and Knowles pool with branches to the
Ranger and Caddo fields, In all, 96 miles.
Mid-Colombia Oil A Develop¬
ment Co., a subsidiary, was incorp. in Jan. 1921.
V. 112, p. 264, 380.
Complete statement to the New York Stock Exchange. Ac.
V. 109. p.
TRANSCONTINENTAL
Delaware June 27 1919 as a merger or
8%
11%
•
V. 112,
1920.
——$2,023,882
Excess profits tax (for previous year)..
263,941
Preferred dividends (7%)
560,000
Common dividend, cash
■
--(1,073,916
REPORT.—For calendar year 1920, in
Results for Calendar
Net Income—
in fee
or
controls by lease
988, 1186, 1373.
MAY, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES.
[For abbreviations, &c., see notes on page 6.J
STOCKS AND BONDS
Date
Par
Bonds
Value
Transue St Williams Steel Forging Corp—Stk 110,000 shs
Underwood Typewriter Co—Common stock $9,000,000 auth
Preferred 7% cum 'a & d> red 125 $5.000.000
Union Bag & Paper Corporation—Stock $20,000,000 auth.
100
Cheboygan Paper Co 1st M gu due $100,000 yly call par Emc*
Union Carbide & Carbon Corp—Stock 3.000,000 shs no par
1916
Ac
None
See text
non-cum
call
105 $8,040,000----
100
1902
1,000
1891
1897
1920
1,000
1,000
1,000
1,000
1,000
19i3
1,000
-
Ref A Ext M$"»0.0(HUWW) vred 110 oegMay'18. Ba&MSt.xe*
Three-year 7% convertible gold debentures.
Convertible debentures call text
Eq.xxxc*
Union Ferry—stock
Union Natural Gas Corp—Stock SJ0,000,000
— -----Serial bds $6,000,000 auth gdue $500,000 ann red -CPixc*
Bonds of affiliated companies (see text)
1908
1920
100
-
-
.
Excluding $1,950,000 securing collateral notes of March
100
15
•
Arrangement with Arkansas Natural Gas Co., V. 110, p. 977.
Acqul
of holdings of Latin-American Petroleum Corp. or Colombia, V.
1480; V. 112, p. 169.
Guaranty of $700,000 National Steel Car
Lines Co. equipment trusts, V. 112, p. 2092.
Ill, p.
REPORT.—For 1920:
Gross income from all sources
Year ending—
earnings.
Depreciation
Other income
Interest
Federal taxes
Dividends
and.
selling expenses.______
drilling non-producing wells
;_$22,190,397
2,136,898
1,085,453
541,301
$2,374,342
597,034
236,586
176,384
$184,063
Balance, surplus
x
profit, carried to surplus
STOCK.—Capital stock, auth. and Issued 2,000,000 shares'no par value,
on N. Y. Stock Exchange in Aug. 1919 (V. 109, p. 988).
Bankers
offering stock, Prichitt A Co., N. Y. ana E. W. Clark A Co., Phila. (V. 109,
p. 79).
No funded debt.
listed
OFFICERS.—Chairman, M. L. Benedum; Pres., F. B. Parriott; Sec.,
T. R. Cowell; Treas., E. D. Robinson.—(V. 112, p. 169, 267, 380, 2092.)
TRANSUE & WILLIAMS STEEL FOROINO CORP.—ORGANIZA
TION.—Incorp. in N. Y. Oct. 26 1916 as successor of company of similar
name (organ, in 1898).
Manufactures steel forglngs,stamping forms,etc.
STOCK.—Capital stock, auth. issue, 110,000 shares; no par value;
(outstanding in hands of public) listed on N. Y. Stock
Exchange in Jan. 1917 (V. 104, p. 368); remaining 10,000 shares reserved
for sale to employees.
Bankers offering stock: Hornblower & Weeks,
Dominick & Dominick and Kissel, Kinnicutt & Co.
V. 103, p. 1691.
No
100,000 shares
funded debt.
DIVIDENDS.—1917, Jan. and April, $1.
In July 1917 increased the
div. to$l 25.
Oct. 1917 to Jan. 1921, $1 25quar.; April 1921, $1 qu
quar.
REPORT.—For calendar year 1920, in V. 112, p. 468, showed:
Gross
Net
Other
Federal
Dividends
Balance.
.
Sales.
Earnings.
Income.
Taxes.
Paid.
Surplus.
$7,559,871
$791,795 $53,939 $175,000 ($5)$500,000$170,734
~
6,934,777
916,796
63,191
250,000 (96) 600.000 235,988
6,298.301
728,865
60,737
275,000
(5) 600,000
14,601
■'
Pres., O. F. Transue: V.-P., Frank Transue; Sec.-Treas.
N. Y. office, 14 Wall
St.—(V. 112,
p.
,
F. E. Dussel.—
468, 1525, 2199.)
UNDERWOOD TYPEWRITER CO.—ORGANIZATION.—Incorp. in
V. 90, p. 632.
Manufactures "visible" typewriter.
V. 86, p.
Plants at Hartford and Bridgeport, Conn.
During 1919 brought
out new product known as "Underwood Standard Portable Typewriter."
V. 110, p. 966.
Delaware.
1359.
STOCK.—Pref. stock, see V. 90, p. 788.
In 1917 retired $100,000"pretT,
making $1,100,000 of the $5,000,000 pref. acquired and canceled.
V. 103,
p. 1797.
Notes payable ($900,000) were ail paid off in 1916.
In March
1917-18 $500,000 common stock was auth. issued under profit-sharing plan,
making $9,000,000 outstanding.
V. 104, p. 1270; V. 108, p. 780.
DIVIDENDS.—On pref., July 1 1910 to
July 1 1921, 154% quar.
On
1916, 1% quar.; Jan., April, July and Oct.
1)4%; 1918, Jan., 1)4% and 5% extra from accumulated surplus;
April, July and Oct., 1)4% quar.
1919, Jan., 1)4% and 5% extra; April,
2%; July, 2%, and 5% extra in U. 8. Victory bonds; Oct., 2% cash: in
1920, Jan., 2% and 5% extra in casn; April, 2%; July, 2% cash and 5%
in Victory notes; Oct., 2% cash.
In 1921: Jan., 2)4%; April, 2)4%;
July, 2)4%.
stk, July 1 1911 to Oct.
1917.
REPORT.—Report for cal.
1920, in V. 112, p
1279, showed:
Depre- Pref.Div.
Common
Balance,
Surplus.
(7%).
Dividends.
1920„$3,471,816 $665,485 $226,784 $273,000(13i2)$l,215.000
*$758,238
1919— 4,502,335 1,250,000
230,645
273,000
(18)1.620,000
*706,952
1918— 4,230,754 1,250,000
200,071
273,000
(11) 973,500 •1,157.346
1917— 3,271,971
500,000
244,405
274,750
(6) 944,500
*980.653
Total Net
Cal.
Year:
*
Taxes.
year
Federal
Income.
After
ciation.
deducting profit-sharing to employees.
OFFICERS.—Pres., John T. Underwood; V.-P., Clinton L. Rossiter;
Treas., De Witt Bergen; Asst. Treas., Jno. J. Hinchman: Sec.. L. W. Guern¬
Office, 30 Vesey St., N. Y.—(V. 112. p. 661, 1032, 1279.)
sey.
UNION
BAQ
&
PAPER CORP.—ORGANIZATION.—Incorporated
in
New Jersey Oct. 4 1916 as a consolidation, per plan in V. 103, p.
244. 762. of Union Bag A Paper Co. and its sales agent, the RIegel Bag &
Paper Co.
In this merger the $27,000,000 stock of old Union Bag A Paper
Co.
($11,000,000 being pdftfj, gave place to $10,000,000 stock, all of one
class (listed on N. Y
Stock Exch.).
See full statement, V. 104, p. 71.
In
Dec. 1916 purchased the Cheboygan (Mich.)
Paper Co. and guaranteed
Its $1,000,000 bonds, p. A 1.
V. 103. p. 2436. 2161; also then purchased
for cash Badger Bag A Paper Co. of Wausau, Wis.
V. 104, p. 262.
Mills
and factories are located at Hudson Falls, N. Y., Chicago, 111., Kaukauna,
Wis., Cheboygan, Mich., and Wausau, Wis.
Owns 48,790 shares of a total of 78,999 shares of capital stock of the St.
Maurice Paper Co., Ltd., a company which In Dec. 1915 took over the prop¬
erties Including water powers of the Canadian subsidiaries of the Union Bag
A Paper Co., and undertook the erection of a newspaper
mill, Ac., at Cap
Madeleine, P. Q. The St. Maurice Paper Co. sold in 1916 $1,500,000 1st M
conv. sinking fund 6s, part of a $5,000,000 issue due Jan.
1 1946.
All
.
bonds issued have since Been either converted into stock
or
redeemed.
V.
103, p. 148; V. 109, p. 1085.
STOCK.—The stockholders voted May 4 1920 to increase the capital
Of the new stock $5,000,000 was
stock from $10,000,000 to $2^,000,000.
distributed
as a
50% stock dividend
on
May 20
to holders of record May
10.
Of the outstanding stock, $44,050 was held Dec. 31 1920 for exchange
under merger plan.
DIVIDENDS
(New Co.).—Dec. 15 1916 to Sept. 15 1919, 6% p. a.
1919 to June 1921, 2% quar.
Also extra div.
Feb. 1917, 2% rash, and on Nov. 15 1917, Jan. 25 1918 and Feb. 15 1919.
each 2% in Liberty Loan bonds.
Paid 50% stock div. on May 20 1920.
The directors in Dec. 1920 authorized the creation of a general dividend
reserve fund of $1,200,000.
V. Ill, p. 2529.
(1)4%
Q.-M".);
Q—J
Aprl '21
$1.50 By check
Dec.
BONDS.—As to bonds of 1905 ($5,000,000 auth.), see V. 80, p. 2402:
V. 81. p. 269, 564; V. 87, p. 1667; V. 88, p. 1201.
Bonds numbered from
3,609 upward are tax-free in New York in owners' hands.
Bonds 3201 to
3600 are not stamped but taxes were paid thereon.
V. 91, p. 99; V. 94,
p. 921.
Of the $5,000,000 issue. $2,198,000 on Dec. 31 1920 were out¬
standing, $1,780,000 were in sinking fund and $1,022,000 in treasury.
Q—M30 See text.
MAS Sept I 1932
Q—F
May 1 1921
F
A
A Aug 11927
M
St
Louis, Mo
Miss Val Tr Co, St Louis
Nat Bk Com, St Louis
New York and St Louis
N
N Y Office, 30 Broad St
May 1 1933
O April 11923
New York
O April 1 1923
New York
See text. Jan 15 1921 2% Corn Exch Bank. N
Y
Q—J
15 Apr 15 '21
2)4
A
A
O To Apr 1926
Colonial Trust Co, Plttata.
A
A
A
A
A
Dec. 31 '20. Dec. 31 '19. Dec. 31 '18.
$5,046,301
$2,335,255
$2,619,173
428,173
348,221
460,710
Cr.140,625
Cr.46,875
160,245
188,812
187,151
982,956
258,228
601,467
(8%)1.081,896(8)4)836,062(6%)589,074
$2,393,031
$844,557
Jan. 31 '18
$5,131,106
261,006
211,619
555,765
(10)9881438
$827,645
$1,114,278
Eleven months.
OFFICERS.—Chairman,
August
Heckscher; Pres., M. B. Wallace;
V.-Pb.. O. R. McMillen and E. B. Murray: Treas., M. B. Wallace: Sec..
Charles B. Sanders.
Office, Woolworth Bldg., N. Y.—(V. 112, p. 1164,
1275, 2199.)
UNION CARBIDE &
CARBON CORPORATION.—ORGANIZAork J
TION.—Incorporated in New York Nov. 1 1917 (V. 105. p. 1426, 1718;
106. p. 507) to manufacture and deal in calcium carbide and all
gasproducing materials and gas, especially acetylene gas, and all machinery
relating thereto; also metallurgical and chemical substances and com¬
pounds, Ac.; coal, coke, oil, lumber, &c.; iron, steel, silicon, chromium,
molybdenum, vanadium, titanium, tungsten, manganese, calcium,carbon,
copper, aluminum, nickel and other elementary substances, and any and
all alloys, compounds,
Ac.; also to manufacture and
deal in electrical
batteries, starters,
lamps, machinery and other electrical appliances;
oxygen, hydrogen, nitrogen and other gases separated from air, etc.
The Corporation owns directly or indirectly substantially all of the com¬
mon capital stock of Union Carbide Co.
(V. 105, p. 916, 722), National
Carbon Co., Inc., the Linde Air Products Ooi (V. 104, p.
668), the Prest-OLfte Co., Inc. (V. 104, p. 458), Electric Metallurgical Co.. Michigan North¬
ern
Power Co., Union Carbide Co. of Canada, Ltd., Electric Furnace
Products Co., Ltd., Oxweld Acetylene Co., Oxweid Railroad Service
Corp.
and other subsidiary companies.
[The outstanding pref. shares are under¬
stood to include: National Carbon. Inc., $5,600,000 8%.cum.
pref., callable
at 140 (par $100); Linde Air Products Co.
6% pref., $1750,000.1
In April
1921 acquired the Carbide A Carbon Chemical Corp. and the Clendennin
Gasoline Co.
V. 112, p. 1748.
,
V.
CAPITAL
sued and
TRUMBULL STEEL CO.—(V. 112, p. 661, 1290.)
com.
Apr 15 1921 $1 Guaranty Trust Co, N Y
July 1 '212)4% Cheoks mailed
July 1 '21 154 %
do
Q—M 15 June 13 '21 2%
i
A
J July i 1930
2331) roadway
semi-an
To 1934
MAN Nov 1 *21 to *26 N Y.Empire Trust Oo.
—J
REPORT.—For 1920, in V. 112, p. 1275, showed:
Net
Dec. 31 '19.
$510,144
Net income
Administrative
1919
Places Where Interest and
Dividends Are Payable.t
Q—J
text
7
2,810.600
5 g
6.202.000
600,000
68
3,198,000
? g
c9,600,000
7 g
2,500,000
7 g
2,500,000
3,000,000 4 in 1920
9,840,000 10 In '20
6 g
1,158,000
5 Months to
Year 1920.
1918
Maturity
191 8.
sitlon
1920
See
and
Q -""J
J*
""500
MSt.xxc*
Net
text
14,977,850 See text
2,198,000
140,000
5 g
590,500
1,000
Missouri Electric Light A Power 2nd Mtge gold—-SStxx
Missouri Edison Electric Co 1st Oonsol Mtge.--.— Kxxc*
on
text
7
Last Dividend
P. St Louis—
Pref stock 7%
1st M g
Loss
Payable
3.900 000
100
1905
c
When
%
None 100.000 shs See
$100 $9,000,000 See
First mortgage $5,000,000 gold red 105 sinking fund. Eq.xo*
Allen Bros Co 1st M $40,000; 2d M $100,000 assumed
Union El L A
Rate
Amount
Outstanding
333
STOCK.—Authorized, 3,000,000 shares (no
outstanding (Apr. 26 1921), 2,827,464 shares.
par
value), is¬
Stockholders of record Dec. 12 1918 had the right to subscribe for
406,857
shares of additional stock at $40 per share to the amount ef
20% of their
holdings.
Stockholders of record Oct. 20 1920 had the right to subscribe
to additional stock at $40 a share to the extent of
10% or their holdings.
V. Ill, p. 1480; V. 107, p. 2195, 2482.
ANNUAL MEETING.—Third Tuesday In March at N. Y. City.
DIVIDENDS.—An initial dividend of $1 per share was paid Jan. 2 1918.
Dividend No. 2, $1 per share, paid April 2 1918; July
1918, $1.
Oct.
1918 to April 1920, paid $1 25 quar.
July 1920 to Apr. 1921 paid $1 50
quar.
OFFICERS.—Chairman of board, Myron T. Herrick; Pres., George O.
Knapp; Vice-Presidents, Edgar F. Price, Giles W. Mead, M. J. Carney,
Jesse J. Ricks; Sec., H. E. Hackenberg; Treas., Giles W. Mead.
Office,
30 East 42d St., N. Y.—(V. 112, p. 753, 1171. 1748.)
UNION ELECTRIC LIGHT & POWER CO.. ST. LOUIS.—ORGAN¬
IZATION.—Incorp. in Missouri in Sept. 1903 (V. 77, p. 40, 774), and in
Jan. 1917 merged with Perry County Utilities Co. and thereafter
purchased
property of the Electric Co. of Missouri (V. 104, p. 458).
Does practically
11 of the electric lighting business of St. Louis.
The company's
principal
enerating station on the Mississippi River will have a capacity, when new
apparatus to be installed has been placed in operation, of 122,000 k.w.
The
company has 8 sub-stations in the city of St. Louis and 9 sub-stations outide the city limits.
Company received over 75% of its electrical energy
equirements in 1919 from Mississippi River Power Co.
STOCK.—Total authorized stock, as Increased In May 1918, $22,240,000>
(par $100 a share), viz.: (a) Common, $14,200,000, of which $11,015,200outstanding, all except directors' shares owned by North American Go.
(5) 7% non-cum. preferred $8,040,000, of which $2,810,600 was outstanding
Aug. 31 1920. V. 105, p. 1110; V. 104, p. 1904, 2016.
The company has
made application to the Missouri P. S. Commission for
authority to sell
$1,000,000 7% Pref. stock to reimburse the company for expenditures in
the way of improvements.
COMMON DIVIDENDS.—1906 and 1907, 5%; 1908 to June 30 1915•
6% yearly (Q.-J.).
Since not reported.
BONDS, Ac.—In 1908 filed
a Ref. and Extension M. for $50,000,000
bonds,
$9.600,000 have been sold, $10,000,000 are reserved to
underlying bonds and the remaining $30,400,000 are Issuable for not
ivcr 85% of cost
of extensions and Improvements, on condition that the
net earnings are 50% In excess of Interest on bonds. Incl. those
proposed to
be issued.
V. 105. p. 1315.
V. 86. p. 232. 1163; V. 87, p. 1425, 1537:
V. 96.
p. 793; V. 99. p. 677; V. 105. p. 1315.
The 3-year 7% Conv. Debentures are callable, all or part, at 101 and int.
to Apr. 1 1921, at
100)4 and int., thereafter to April 1 1922, and at 100 )4
>r
the
"etlre
and int. thereafter.
Convertible until Feb. 1 1923 Into an equal amount
of Ref. A Ext. Mtge. 5% bonds due 1933, plus $150 in cash for each
$1,000
debenture converted.
EARNINGS.—Year ending Dec. 31 1919 (incl. Elec. Co. of Mo. A
Perry Co. P. U. Co.). gross, $8,153,407; net, after taxes, Ac., $2,264,314interest charges, $1,128,980; bal. for divs., $1,135,334.
OFFICERS.—Pres., Louis H. Egan; V.-P., C. S. Ruffner and F. J.
Boehm; Sec., Hemnan Spoehrer; Treas.LJohn L. Ganz; Asst. Sec. A Asst.
Treas., J. F. Fogarty.
N. Y. office, 30 Broad St.—(V. 112, p. 753.)
UNION FERRY.—Operates 3 ferry lines between N. Y. and
Brooklyn
Fare increase, V. 87, p. 1517; V. 93, p. 538-
9 ferryboats, real estate, &c.
V.
112,
p.
DIVS.
V
1748.
1898.
1899. 1900 to *an. 1908. 1909 to 1915. 1916 to Jan. 1921
3)4
3
2 yearly.
3 yearly.
4 yearly (2 J.-J )*
Pres., Thos. Read; Asst. Sec. A Treas.. John O'Brien.—(V. 112, p.
1748.)
Percent..
UNION
NATURAL
OAS
CORPORATION.—ORGANIZATION,
Ac.—
fnoorp. in Delaware May 24 1902 and acquired various gas properties In
Penna. and Ohio.
On Dec. 31 1920 owned 700,380 acres of gas lands
and
also one-half Interest In 56,110 acres in W. Va. (Reserve Gas
Co.)
DIVIDENDS.—Dividends 1903 to 1906, 8% yearlv; 1907 to 1918.
10%.
yearly; April 1919 to Apiil 1921 paid 2)4%
quar.
/Cj
Date
Par
Amount
Bate
When
Bonds
Value
Outstanding
%
Payable
Union OH Co of California—Stock auth $100,000,000
First Lien M $20,000,000 g callable see text.. Eq jcxo*&r*
1909
Purchase money obligations
1917
1909
Var
8'
I§52
1,000*
1.000
1911
ion
.
D
7
7g
ec.
31
June 1 1921
Q—M
12,000,000
12,262.000
A Aug 1
&
F
897
REPORT.—For cal. year 1920, in V. 112, p. 941, showed:
Calendar Years—
1920.
1919.
1918.
Gross earnings
$8,650,121
$7,832,872 $7,560,976
1,260,858
908,986
$1,375,894
$844,594
$665,993
10,623,255
9,247,361
8,442,557
7,718,289
266,812
Cr.29,512
984,000
858,188
8c Gen.
of pipe and gathering lines (incl. Pro¬
First Lien 5s of 1913.
STOCK.—No dividends while the First Lien bonds are unpaid, unlesn
is twice the interest charge.
V. 101. p. 523; V. 100, p. 1353
1516. 897; V. 102, p 1065; V 103 p. 762.
In July 1919 $10,813,500 of the $43.571.500 outstanding stock and rights
net Income
additional stock then being subscribed
purchased at $157.50 ex-dividend on behalf of Union Oil Co. of Dela.,
$1,611,500 of the $6,428,500
below. V. 109, p. 279.
In 1919 the holders of the $43,571,500 stock of
see
record Aug. 20 (V. 109,
782) had the right to subscribe at par, $100 a share, for the remaining
$6,428,500 of the authorized issue of $50,000,000, subscriptions payable to
four installments of $25 a share, on Sept. 20 1919 and Jan. 1. May 1 and
Sept. 1 1920.
The stockholders voted on June 15 1920 to increase the
authorized stock from $50,000,000 to $100,000,000.
p.
'16. *17. '18. *19. '20- 1921.
6
6
6
6 6^
See
3
4
4
4
text
In stock
1
..Mar.,10
On Jan. 19 1918, 1H% and 1% extra; Mar. 15 1918. 10% in
stock
April 1918 to July 1920. IX % cash and 1% extra (Q.-J.); Oct. 1920, ta
Apr. 1921, 2% quar. and 1% extra.
BONDS.—First Lien 5% 20-yr. bonds, auth. $20,000,000; viz.: reserved
for underlying and guaranteed bonds, $1,737,000; in company's treasury,
$788,000; redeemed, $5,613,000; unissued, $3,965,000; in hands of public,
$7,746,000.
V. 92, p. 1373; V. 93, p. 109.168; V. 92. p. 1373,1503,1641.
Sinking fund retires yearly at 102hi 8c int.; also callable as an entire issue
at 105 and int. on any int. date.
V. 102, p. 1726. In June 1918 the N.Y.
Stock Exchange listed the First Lien bonds
LATE DIVS( *09. '10.'11-'12. *13. T4-T5.
Cash
(6 62 7.2 yly.
48 None..
I
Extra
—
—
—
..
__
—
REPORT.—Calendar year 1920, in V. 112, p. 1862, showed:
8.705,447
8,681,308
20,532,488
$25,477,083
14,171,051
1,490,733
3,201,242
Interest
S?U'^^^ef-f-8ur'^£95'120 sr.6,243,201 df.2.180,573 sr.4.344.418
DIRECTORS.—Lyman
Stewart
(Chairman), Los Angeles; W.
L,
&te^ar,M!^sidei$' E* w- Clark (V.-P. & Gen. Mgr.), N. A. Howard,
Matthews
(Oompt.), W. W. Orcutt, W. R. Staats, F. C. Bolt, Isaac
Milbank, A. P. Johnson, Gurney E. Newlin, Henry M. Robinson, L. P.
'rrA*
^
383
753.'
Macbeth, L. E. Hanchett.
1407
Other officers: Sec., John
DELA).—ORGANIZATION.—Incorp. In Dela-
A^,L91?uOIUth,e P^P°se of acquiring
a large
interest in the Union
Oil Co. of Calif., the Columbia Oil Producing Co. (of Calif.) and in similar
properties. V. 109.
p.
STOCKHOLDINGS,
1086, 1468. 1899.
DEC.
31
1920—SUBSIDIARY
COMPANIES.
Union Oil Co.
(Delaware) Interest.
P^mt0f
Total
Company.
Issued.
Par.
Shares.
Issued.
Commonwealth Pe¬
Cons
118,117
300,000 No Par
299,079
99.69
9,999 $100 00
Corp
AFFILIATED COMPANIES.
9,999
100 00
5 00
678,656
97 24
1 00
200,000
100 00
Western
The Dunlop Oil Co
697,920
200,000
Eddystone Oil
Corp
50,000
Columbia Oil Prod.
O
3,418,891
Holding Company
See Note.
Petr5eumCto?p
Common wealth
Petroleum Corp
Commonwealth
Petroleum Corp
.Union Oil Go
10 00
50,000
100.00
1 00 3,415,636
99.90
Petro-
leum Co.
;
^
Union Oil Co. (Delaware)
Interest.
Percent
Shares
Issued.
of
Total Issued.
Shares.
Par.
26.17
130.869
California...500,000 $100 00
26.66
160.000
National Exploration Co
600,000
5 00
z*
j
Note.—Commonwealth Petroleum Corp. is in process of dissolution and
consolidation with Union Oil Co. (Dala.). shares having been exchanged
on the basis of one share of Commonwealth for 1 1-5 shares of Union.
Union Oil Co. of
STOCK.—Authorized, 5.000.000 shares of no par value,
have been issued.
V. 109, p. 1086, 1186.
CAPITAL
of
which 1,367,170 shares
REPORT.—For cal. year 1920 in V.
net
$13,244,187;
earnings,
112, p. 1879, showed: Total income.
after depreciation,
tec.,
$5,162,568.
Vice-Pres. &
H. Schlacks, Chairman and President;
Brookmire; Sec., C. E. Forsdick.
OFFICERS.—C.
Treas., J. H.
DIRECTORS.—F. W. Allen, Bayard Domtoick, W. E. 8. Griswold,
Henry Lockhart Jr., Gates W. McGarrah, Jas. H. Perkins.
W. R. Crawford. Jas. H. Brookmire, 8. F. Pryor, C. H. Sabin, C. H.
Schlacks, New York; E. W. Clark, W. L. Stewart Los Angeles; John S.
Drum, San Francisco; E. P. Whitcomb, F. L. Hadley, Pittsburgh; T. W.
Phillips, Jr., Butler, Pa.; S. M. Yauclain, Pblla.; Francis H. Swift, Boston;
W. H. Allen, M. J. Beaty, Warren, Pa.; W. J. Broder, Bradford, Pa.;
F. B. Adams, F. L. Hadley, New York; John Sherwin, Cleveland.
N. Y.
office, 120 Broadway, N. Y. City.—(V. 112, p. 267, 1525. 1875, 1879.)
Chas. Hayden,
J.
UNION STEEL CO.—The United State* steel corpoxauon. wnion took
possession as of Deo. 11902, owns the entire 120.000.000 stock, guaranteeing
$45,000,000 of 5% bonds.
See V. 75. p. 1359. 1150; V. 74, p. 100.
1902 <$45,000,000 authorized issue)
guaranteed principal and interest by the U. S. Steel Corp., and are
of the company, including the Sharon Steel stock
acquired.
They are subject to call since Dec. 1 1907 at 110 and interest.
)t the bonds, $43,935,000 have been Issued, of which $24,110,000 were held
alive in stoking fund on Dec. 311920; remainder are to oe useu to retire un¬
derlying bonds and for future purposes.
Annual sinking fund 2% of amount
of bonds out.
V. 75. p. 1150; V. 76. p. 107; 546.
Guaranty. V. 76. p. 709.
—(V. 78. p. 1171. 1227; V. 83, p. 912; V. 91. p 721; V. 92. p. 1247.)
BONDS.—The 1st and Coll. 5s ol
are
se
ured by all the property
UNION STOCK YARDS OF OMAHA.—ORGANIZATION—Incorpor¬
Nebraska in Deo. 1883
Owns about 220 acres of land at South
covered with plant, &o., and other real estate
V, Q2, p. 1378,
DIvs. since 1897. 6% yearly, with extras of 2% to Dec. 1916, Nov. 30 *17,
ated in
0 naha.
Dec. *18. Dec.'19, Dec.'20.
Of the 1st 5s of 1911 ($5,000,000 auth. issue),
$700,000 have been sold, remainder reserved for improvements and addifc'ns,
$1,200,000 at cost and $3,100,000 at 75% of cost.
V. 92, p. 1387, 1315.
Gross
Net
Dividends
Balance,
Earnings.
Earnings.
Paid.
Surplus
$3,732,792
$654,489
$599 704
$54,785
1919
4,108,295
806,823
599.704
207,119
Pres., R. J. Dunham; Sec.-Treas., M. L. Hhawcross.
Office, South Side,
Omaha, Neb.—(V. 106, p. 393, 1125; V. 108, p. 376; V. 110, p. 2187.)
Calendar
Year—
1920
-
UNION SWITCH & SIGNAL
CO.—See Westinghouse Air Brake Co.
TANK CAR CO.—ORGANIZATION, &c.—Incorporated in
N. J. in 1891 as Union Tank Line Co.. name changed to present title June 4
1919 (V. 108, p. 2131, 2336).
Owns about 30.000 tank oars which it leases
to shippers at rental charges according to capacity, and in addition receives
1
mileage Mfce from the railroads.
Formerly controlled by Standard Oil
Co of N. J., but segregated in 1911.
Auth stock was increased in June
1919 from $12,000,000 to $25,000,000. V. 108, p. 2336.
Dividends, 1914
to March 25 1919, 5% yearly (2H% M. & S.); June to Dec.
1919 paid
1 X% quar.; March 1920 to June 1921, paid IX % quar.
Suit. V. 107,
UNION
P
The stockholders on Jan.
27 1920 authorized the
creation of an Issue of
$12,000,000 cumulative 7% non-voting pref. stock.
Stockholders of record
given the privilege of subscribing to the new stock at par on
the basis of one share of pref. for each share of common held.
Initial div.
Jan. 27 were
p.
(Delaware).
Union
Oil Co.
(Delaware).
„
V. Ill,
597.
1920. in V. 112, p. 1279, showed:
1920.
1919.
1918.
REPORT for calendar year
Calendar Years— 1
earnings.......—-*$3,437,292
$3,6181288
(7 %)840.000
503,433
(7)840,000
$2,093,859
$2,778,288
$9,398,693
Common dividends
Preferred
dividends.
Balance, surplus
Union Oil
Oil Co
98.43
Profit and loss
surplus..$11,492,552
1917.
$1,253,019
$3,709,516
(5)600,000
(5)600.000
.5653.319
$6,116,797
§§.109,516
$5,463,778
taxes for
depreciation, amortization, &c.. $1,286,491 Federal
1919, and after adjusting Federal Income taxes, $44,239.
♦After
Co
United
1 00
Petro-
leum Co.
Central
Oil
Wigwam
Co
Net
Shares
troleum
120.000
leum Co
Central
99.62
IX % on new pref. stock paid
to Ju el 1921, IH %
lSSlTof In Aug. 1920 sold $12,500,000June 1 1920; trust 7% gold notes.
112.
equipment
^
102^862.
UNION OIL CO. (OF
Western
2,631
7.430,i54
8.271,084
14,364,695
1,351,127
4,862,626
2,834,893
1,862.391
Depreciation
7,920,704
5,740,465
on bonds, &c___ Cr.317,395
541,378
577,803
595,799
Provision for Fed. taxes.
3,000,000
1,750,000
1,550,000
1,240.993
Cash
dividend..(10H%)5,043,760(10)4395,053(10)4252,519 (9)3,297,866
Stk. div. pd. Mar. 10'18
(10)3951,193
Gen. exp., taxes, &c
267
100 00
Not stated $53,360,926 $43,863,562 $33,870,889
Gross sales
Total profits
P
Sagamore Oil & Gas
2,641
-
Consolidated Annual Statement, Including Controlled Companies.
1920
1919
1918
1917
Production, net barrels.
Union Oil Co.
(Delaware).
April 30 1923.
56,927
100 00 Central Petro¬
25 00
Company—
1294; report, V. 103, p. 1395), extend¬
ing from 3 separate tidewater ports to the 4 great oil-producing sections
of the State, and controls and operates 3 modern refineries, a large fleet of
oil-carrying vessels, with a capacity of 783.200 bbls., 239 stationary tanks,
with a storage capacity of 19.000,000 bbls.. for crude and refined oil, &c.
Its oil properties aggregate about 212,645 acres in California, also rights on
36.742 acres of leasehold In Texas and Wyoming, and 15,835 acres leasehold
in Mexico; total Dec. 31 1920. 274.415 acres.
V. 106, p. 705; V. 97, p. 149;
V. 99, p. 758, 745.
Owns 99.81% of Producers' Transportation Co.,
$7,000,000 stock.
V. 104, p. 2565; v. 105, p. 78.
A new refinery with a
capacity of 15,000 bbls. a day commenced operations in June 1919 at San
Pedro, at Los Angeles Bay.
V. 109, p. 1899.
In 1917 purchased Pinal Dome properties for $500,000 in cash (V. 105.
68.11
acquired by payment at par,
56,927
Sec..
Bldg.
UNION OIL CO. OF CALIFORNIA.—ORGANIZATION.—Incorp.
In California in Oct. 1896 and produces fuel oil, refined oil, gasoline, kero¬
which
122,603
Wolverine Oil Co..
The
Mgr., E. P. Whitcomb; V.-Pr«c, S. Y. Ramage;
David E. Mitchell; and Treas., H. Stehley.
Office, Union Bank
Pittsburgh, Pa.—(V. 112, p. 941.)
was
100.00 Columbia
Oil
Producing Co.
_
$1,495,189
on
5 00
100 00 to be
60,000
Preferred
1,288,913
826. 2280; V. 107, p. 298), and $3,283,000 In
Issued. Holding Compan
Shares.
2,500
3.574,677
Depreciation-..
p.
Par.
100 00
2,500
180,000
Common
Miscellaneous
Dividends (6%)
benzine, &c.
Owns 407 miles
ducers' Transportation Co.; V. 96, p.
Total
Issued.
Company.
PuenteOIICo—;—
$8,076,613
2,872.679
268,697
45.003
984,000
Interest.
Per cent oj
Central Petrol'm Co:
3,370,239
242.662
38,126
984,000
sene,
Tr 8c Sav Bk
(Delaware)
Oil Co.
Shares
1917.
3,817,734
181,806
Cr. 12,878
984.000
Pres.
Los Angeles
1X
Union
Surplus, per bal. sheet..
ftc
1930
$359,000
Dec. 31 1920, $956,000;
outstanding, $597,000.
Of $6,000,000 6s of 1913, $1,158,000
were outstanding on Apr. 30 1921; $3,528,000 had been redeemed and can¬
celled and $1,314,000 were in treasury.
No bonds are reserved to retire
bonds of five "under companies."
V. 96, p. 794; V. 97, p. 370; V. 100, p.
Balance, surplus
Angeles,
19 20
in treasury;
*
Los
Y,
N Y Corn Ex Bk 8c Los A
do
do
Mew Vort Trust Co, N i
J
&
D Dec 1 1952
5 ?
Mar31 21 14% Omaha, Neb
Q— M
,496.3uO 8 to 1920
First Tr ft 8av Bk. Chit
5
M
A
i* May 1 1931
700.000
8c
D June 1 '21 14% Checks mailed
12,000,000 7 in 1920 J
500 &c
1920
An additional $24,110,000 held by trustees of sinking fu nd,
Net, after exp., taxes &
credit for other income
N
i
100
...
Interest
Los Angeles
al9,825,000
100
Union Tank Car Co—Com. Stock $25 000.000
...
Preferred stock (non-yoting) $12,000,000 authorized
JEquip. trust notes red. 102M
Eqc
BONDS, &c.—Bonds of subsidiary cos.
and
Payable
are
None 1.387,170 sh
Union Oil Co (of Dela)—Stock 5,000,000 shares
Union Steel — Fim cc coll ratge $45,000,000 e gu s f.N-xo'&r
Union Stock Yards of Omaha—Stock $7,500,000
First mortgage $5,000,000 redeemable 105
CC
<A
100
Where Interest
Dividends
Maturity
and
3%
Apr 23 '21
Q—J
$100 $50,000,000 See text
J
&
.1 Jan 21931
Ac
7.746.000
M &
N Nov 1 1921
157.000
F
&
A Feb 1 1923
5
1,088,000
J
&
J July 1 1921
5
2.54,000
To Dec 1 1922
284.670
1911
Mission Transp 8c Ref Co 1st M s fd quar p & i
xx
Union Transportation Co 1st M
.....xx
Producers' Transportation Co Guaranteed bonds
Places
Last Dividend
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on page 6]
...
[VOL. 112.
STOCKS AND BONDS
INDUSTRIAL
234
Henry E.
Chairman,
Felton; Pres., Wm. A.
Sicardi, P. F. Finnegan, and A. E.
Gridiey.
Office, 21 East 40th St.,
1279. 1290.)
UNITED
ALLOY
STEEL
E. L.
1032,
CORP.—ORGANIZATION.—Tncorp. in
Oo.
Owns in fee property of former United Steel
(organized in 1903).
Produces pig iron from native ores
N. Y. State Oct. 25 1916.
of Canton, O.
Barstow; V.-Pres„ E. C-
Smith; Sec., E. F. Cook; Treas.,
New York.—(V. 112, p. 68, 661,
into steel in its own furnaces.
50,000 to 60,000 tons per month.
coke, and converts same
combined capacity
and
Two plants, total
MAT, 1921.]
INDUSTRIAL STOCKS AND BONDS
MISCELLANEOUS COMPANIES
[For abbreviations, &c.t
see
United Alloy Steel—Stock 955,000 shares
—
—
Par
Amount
Bate
When
Value
Outstanding
%
Payable
None
Date
Bonds
notes on page 6]
See text
See
text
235
Last Dividend
and
Jan
20
New Preferred stock—see text
United Cigar Manufacturers Co—See General Cigar Co,
Inc.
United Cigar Stores Co of Amer—Com $60,000,000 auth-.
Preferred stock (a & d) 7% cum $5,000,000 see text
United Drug Co, Inc—Auth common $35.000,000
1st pref (a A d) 7% cum $20,000,000 call any time at $60
2d pref (a & d) 6% non-cum $10,000,000 call at 105
Pref stocks of sub companies
$100 $32,865,348 See text
100
4.527.000 7 in 1920
100
50
100
100
100
13.918.300
4,500,000
-
United Dry Goods Cos—See Associated Dry Goods Corp
United Dyewood Corp—Common stock $15,000,000
Pref 7% cum $5,000,000
United Electric Co of N J—See "Electric Ry" Section
United Fruit—Stock $150,000,000 authorized
—
-
::::
acquiring, through exchange of shares, the Berger Mfg. Co. and the
United Furnace Co.
The company's capital stock, upon completion of
the exchange will be as follows: Common stock, auth. 905,000 shares, out¬
standing $800,000 shares; jpref. stock, auth. $5,000,000, outstanding,
$3,300,000
V. 112, p. 1406.
Initial dividend of $1 per share was paid
Jan. 10 1917, April 1917 to Jan. 1921 $1 quar.
April 1921 div. was omitted.
.Not stated $25,752,081 $40,055,864 $34,228,880
Net profits available for
dividends and taxes...$3,599,832
Reserved for taxes......
628,000
Dividends ($4 per
,
$2,508,838
325,000
$3,435,257
800.000
share). 2,100.000
2,100,000
2,100,000
1,500,000
2,050,000
$871,832
$83,838
$535,257
$2,328,490
Balance, surplus.
$5,878,490
DIRECTORS.—Edward A. Langenbach (Chairman), Harry R. Jones,
(Pres.), E. L. Hang (V.-P. & Sec.), George H. Charls (V.-P. & Gen. Mgr.),
O. W. Krieg, (V.-P. & Treas.), J. A. Buell, H. Coulby, Bayard Dominick
and James A. Fayne.—(V. 112, p. 380, 941, 1032, 1397, 1406, 1626, 1875.)
UNITED CIGAR MFRS.—See General Cigar Co., Inc.
UNITED CIQAR STORES CO. OF AMERICA.—ORGANIZATION.Incorporated in N. J. July 24 1912.
On June 1 1917 for purposes of eco¬
nomical operation it took over all the property and assets or its subsidiaries,
the United Cigar Stores Co., Inc., N. J., United Cigar Co. of 111. and United
Stores Realty Corp. V. 105, p. 1718; V.94, p. 1451 J386.1122; V.93, p. 1108
1122: V. 88, p. 1132).
Retails cigars, cigarettes, tobacco, &c., hav¬
ing, In Oct. 1920, about 1,600 stores in various parts of the country.
V
93, p. 1122; V. 100. p. 314 V. 101. p. 1276. 1374.
United Profit-Sharing
Corp.. see V. 98. p. 1465; V. 99. p. 474, 1683: V. 100. p. 59, 314
In June 1919 the United Retail Stores Corp. offered to acquire entire
Issued
common stock, giving two Retail 8tores shares Class A common (no
par) for each share of the United Cigar Stores (par $100).
In Nov. 1920
held about 254,684 shares. V. Ill, p. 1482;
the United Retail Stores Corp.
V. 109, p. 1994, 585. 279, 80.
STOCK.—Dividends on pref. stock are cumulative from Sept. 10 1912,
Has equal voting power with common.
A special surplus fund out of net
profits may be used after Jan. 1 1916 to redeem pref. stock at prices not
The stockholders on Aug. 14 1914 voted to re*
from $100 to $10. but this change having proved
unsatisfactory, they voted Mar. 3 1916 to restore the old par value,$100
a share.
V. 102. p. 615, V. 105. p. 1904.
The stockholders on April 11 1919 voted to Increase the common share
capitalization from $30,000,000 to $60,000,000, the additional stock to be
used In the extension of business and tne acquisition of new lines, and wili
be available for distribution as stock dividends.
Compare V. 108, p. 1516.
1171. 886.
exceeding $140 par share.
duce the par value of shares
DIVIDENDS (old co. prior to merger of 1917).—Div. on common, \\i%
and
Hg7^extra paid Feb.15 1913; May 15 1913 to Nov. 15_ 1913, 1X%;
to May 15 1915, 6% yearly; Aug. 1915 to Feb. 15 1917.1 X
%'.
May 1917. 2% quar. to May 1918.
V. 104. p. 1392.
On Aug. 1519ig fathe common dividend to 2X%' Nov. 1918 to May 1919, 2\i%
quar.; then none till Jan. 2 1920, 6%. V. 107, p. 410.
In April and again
in Nov. 1920 paid 10% in common stock, increasing the amount outstanding
to $32,866,020.
Jan. 1921 to Mar. 1921 paid 1^% monthly.
In April
1921 paid 1%; May 1921, 1%; June 1921, 2%.
Feb.
~"
_
.
creased
REPORT.—For cal. year 1920;
1920.
Net profits
$6,004,004
Calendar Years—
Floor taxes.
Federal taxes, est
Preferred dividends
Common dividends.
Balance, surplus
1916
SALES
$5,921,368
1918.
$5,010,204
1917.
$3,423,501
975,000
316,890
492,745
584.889
900,000
316.890
2,852,010
l.ooo'ooo
550"666
316,890
2,308,770
316,890
2,105,055
$4,219,370
$1,267,579
$1,384,544
1918
1919
1920
$80,040^000
Chairman, Charles A. Whelan; Vice-Chairman, Jesse R. Taylor; Pres..
Edward Wise; V.-Pres., Elliott Averett, Wm. Baeder, R. L. Ramsdell,
—(V. 112, p. 169, 267, 380, 569, 856, 941. 1171,1525,1985.)
DRUG
text 0—3
and
Payable
Co, N v
Checks* mailed
do
do
Apr 1 1921 2% Boston, Amer Trust Co
May 2 1921IX Boston, Amer Trust Co
June 1 19211X
do
do
Apr l'2l,
Apr 1 1921
IH
IX
15 Apr 15 19212% Company's office, Boston
Tablet Co. and the American
Papeterie Co. during 1920.
In July 1920
Liggett's Internatonal, Ltd., Inc., was organized and took over the assets
Britain, all the outstanding stock of the Louis K.
Liggett Co., Ltd., of Canada and the ordinary shares of the Boot's Pure
See separate statement for Liggett's Inter¬
Drug Co., Ltd., of England.
national, Ltd., Inc., and also under
Capital Stock" below.
The company has entered into a 5-year contract, effective Nov. 1 1921*
with the Caribbean Sugar Co.
V. 112, p. 856.
Qn Dec. 311920 was operating 226 Liggett Drug Stores within the United
States.
Interest in new "Liggett Building," V. 112, p. 947.
and business in Great
on
June 241919 voted to increase the authorized
1st pref. stock from $7,500,000 to $20,000,000, $7,500,000 of the new stock
being sold forthwith to shareholders (at par), making $15,000,000 pref.
outstanding.
V. 108, p. 2439, 2534, 2637; V, 109, p. 279.
The second
pref. stock is now exchangeable into common stock, share for share, at any
time, at option of holder.
V. 109, p. 894.
Both pref. issues are non-votng,
unless the dividends thereon are in default, in which case the pref .stock
at least will have full voting power as well as the common.
Holders of the 7% First Pref. stock of the United Drug Co. and holders
of th e 7 % Pref. stock of the United Drug Co., Ltd., of Canada, weregiven
the right to subscribe to one share of the Pref. stock of Liggett's Interna¬
tiona
1., Inc., for cash at par for each two shares of the First Pref.
stock of the United Drug Co. or one share of the Pref. stock of the United
Drug Co.. Ltd., of Canada, owned.
Tne stockholders so subscribing were at the same time given the right to
exchange two shares of the First Pref. stock of the United Drug Co. or one
share of the United Drug Co., Ltd., of Canada for an equal amount of Pref.
stock of Liggett s International, Ltd., Inc.
Holders of Common and Second Pref. stock of the United Drug Co. were
given the right to subscribe for one share of the Class A Common stock of
Liggett's International <Ltd., Inc., for each six shares of Common and (or)
Second Pref. stocks of United Drug Co. owned; also the right to subscribe
for any of the
Pref. stock of Liggett's International, Ltd., Inc., not taken
by the holders of First Pref. stock of United Drug Co.
All of Class A Common issued under this offer was placed in trust and
the subscribers received trust certificates representing tne number of shares
subscribed and paid for.
<
Between July 11922 and July 11927 Class A Common will be convertible
Into the Common stock of United Drug Co., par for par, at option of holder.
Callable at any time at $150 per share.
V. 110, p. 2495; V. Ill, p. 598;
V. 112, p, 1032.
In March. 1921 stockholders were given the privilege of subscribing to
common stock of the Caribbean Sugar Co. at par ($25).
V. 112, p. 856,
1028.
NOTES.—The company In Dec. 1920 sold $7,500,000 6 months notes*
V. Ill, p. 2432.
due June 15 1921.
DIVIDENDS %—
'17. *18. *19. '20. '21
Z%
5 7M
7% text
in full to date——
Paid on common stock in Jan. 1919. 1 H% and 1% extra: Apr 1919 to
Jan. 1920, incl., IX % quar.; April 1920 to Apr. 1921, 2% quar.
REPORT.—For cal. year 1920, in V. 112, p. 929 and 497, showed:
Calendar Year—
1920.
1919.
1918.
1917.
Net sales—.—-$68,428,179 $58,338,834 $51,028,336 $40,716,290
Total net income$6,656,135
$3,963,760
$7,163,677
$5,867,148
Depreciation
399,364
662,853
986,030
1,295,545
Doubtful acc'ts receiv'le
65,193
53,668
92,980
81,555
Current taxes.-.1
232,874
247,528
711,086
War income tax-110,322
339,450
__j
Pref. & com, divs. (incl.
subsidiary cos.)
3,433,889
2,777,638
2,129,731
1,842,329
Int. on notes outstanding
701,686
On
common
1916.
stock
„
On pref. stock
-
508.573J
-
$2,497,366
$2,110,741
$1,313,677
DIRECTORS.—Louis K. Liggett (President), James O. McCormick,
Oharles E. Murnan, George M. Gales and J.N. Staples Jr. (V.-Presidents),
John B. Cobb, James O. Brady, Fred, S. Rogers, S. D. Gahoon, W. O.
CO.—ORGANIZATION.—Incorporated In Mass
and business,
In addition to its manufacturing property
the entire capital stock of the Louis K. Liggett Co., the retail company
which succeeded to Riker-Heg«man Co.. Rlker-Jaynes Co. and Louis K
Bolton, Thomas P. Taylor, Byron M. Hyde, John H. Flagler, W. M.
Federman, George W. Bence, E. L. Scholtz. C. F. Buchholtz, Edwin
Thompson, Edmund Carpenter, Thos. Wm Robinson and Stephen Hexter.
—(V. 112, p. 267, 856, 929, 1032, 1626, 1985.)
UNITED
DYEWOOD
CORP.—ORGANIZATION.—Organized In
Dela. Sept. 26 1916 as a holding co. and may manufacture chemicals,
coloring materials and dyestuffe.
Owns all the capital stock of American
Dyewood Co. (lncorp. in Pa. June 28 1904) and controls three other com¬
panies in France. England and West Indies. See full data. V. 104, p. 2559.
STOCK.—-Capital stock (par $100) auth., common, $15,000,000; out"
standing. $13,918,300; pref. (7% cum.) auth., $5,000,000; outstanding*
14.500,000.
The amounts of stock outstanding were authorized to be
listed by N. Y. Stock Exchange in June 1917.
See full statement to the
Exchange in V. 104, p. 2559.
The pref. stock was offered by Blair & Co.
In Nov. 1916 (V. 103, p. 1797).
DIVIDENDS.—On pref. stock paid or declared In full to Apr. 1 1921
p. a. (\M% qu.). Dividends on common (No. 1), April 191/ to Apr. 1
1H% qu. (6% p. a.).
In Aug. 1917 paid
1% extra to aid Red
owns
Liggett Co business.
Also owns all the common stock of Canadian and
British companies, &c.
V. 108, p. 2637; V. 109, p. 894; V. 103, p. 417;
V. 102, p. 615, 1167, 1255.
In its laboratories and factories in Boston,
New Haven, St. Louis and other places the company produces drugs,
pharmaceuticals, toilet preparations, rubber goods, hospital supplies, and
a variety of other merchandise required by
drug stores.
These products
are protected by trade marks and distributed chiefly through its 8,000
stockholder agents, called Rexall stores, situated in nearly every place in
the United States of over 1,000 population, and aiso through 222 Liggett's
drug stores.
In 1917 purchased Seamless Rubber Co. in New Haven,
Conn., the lessee of a new $1,800,000 plant owned by Seamless Rubber
associates on account of which the latter sold $1,200,000 6% preferred
stock in Nov. 1919, having dividends and sinking funds covered by rental
under gurranty.by United Drug Co. ' V. 109, p. 1706.
In 1919 Schuhles
Pure Grape Juice Co., Inc., of New York.
V. 104, p. 1495, 2562.
United
Drug Co., Ltd., Canada.
V. 106, p. 2127, 2458.
In Aug. 1919 sold
Vivaudou Co.
V. 109, p. 894.
In Nov. 1919 purchased a controlling
interest in the Absorbent Cotton Co. of America, St. Louis.
V. 109, p.
2077.
During 1919 formed the United Drug Building Co., which sold
$2,000,000 of bonds, guaranteed by an irrevocable 20-year lease of the
property to the United Drug Co.
v. 110. p. 877.
Organized the United
Writing Paper Co. in Feb. 1920, V. 110, p. 1421.
Acquired the Eastern
Q—J
Q—J
6
are
$451,556
1917
O. R. Sherlock, J. F. Whelan, H. S. Collins, W. T. Posey, J. R. Taylor;
Dr. M. Monac-Lesser, Albert C. Allen, Samuel Simons, L. E. Denslow.
Julius Schwartz, M. A. Bouvier; Sec., F. I. Becton; Treas., Geo. Wattiey-
UNITED
Q—M
(T)
Dividends
1921 $1 Guaranty Trust
See text
June 15 *21 XX
Balance, surplus-—. $1,053,641
1919.
$35,622,986 $42,913405 $52,037 >49 $61,874,053
In March 1916.
Q—J
Q—F
STOCK.—Stockholders
REPORT.—For calendar year 1920, in V. 112, p. 1397, showed:
1920.
1919.
1918.
1917.
Sales
Q—M
7
100 100,000.000 See
STOCK.—The stockholders in March 1921 ratified an increase in the
capitai stock from 525,000 shares of Common stock (no par value) to 955,000
shares Common stock (no par value) and created an issue of $5,000,000 7%
Cumulative Preferred stock.
The new stock will be used for the purpose
of
Monthly
29.928,900 7X 1920
7
16,321,900
6
308,300
716,200
(T)
1,022,900
Places Where Interes
Maturity
7%
1921,
Cross
contributions
Consolidated Income account year ended Dec. 31 1919: Net profits from
operations, $5,301,529: other income, $415,120; depreciation, $222,790;
nt. on bonds, $2,850; income and excess profits taxes,
$1,767,688; sundry
charges, $34,657; net income, $3,688,665; pref. divs., $277,550; com.
divs., $835,098; surplus, $2,576,017.
OFFICERS.—Pres., Joseph C. Baldwin Jr.; V.-P. & Gen. Mgr., A. S.
Blagden; V.-Ps.. Percival Thomas and William F. Fraser; Treas., De Witt
Sec. & Asst. Treas., Ernest W. Picker; Asst. Sec., Charles O
Drew.
Offices, Wilmington, Del., and New York City.—(V. 112, p.
C. Jones;
267.j
UNITED EL.
Lt.
& POWER CO., N. Y.—See Consolidated Gas Co.
UNITED FRUIT CO.—ORGANIZATION.—Incorporated in N. J. on
business.
Properties, see V. 69,
854, and successive annual reports as published in the "Chronicle.
Bluefields S3. Co. Anti-Trust case. V. 104, p. 2600. Northern Ry. of Costa
Rica, 347 miles, see V. 71. p. 1067: V. 80. p. 223; V. 81, p. 618.
Sole owner
of Revere Sugar Refinery; new plant opened in Jan. 1919, capacity 3,50$
bbls. a day.
V.-108, p. 487; V. 103. p. 1979; V. 99, p. 1755; V, 98. p. 1&19.
March 30 1899 to carry on tropical fruit
p.
Status in
April 1921,
see
V. 112, p. 1749.
MISCELLANEOUS COMPANIES
Bonds
United Fuel Gas—1st M $15,000,000 call 105— KN.c#&r*
United Gas Improvement Co (The)—Com stk $61,072,800
Preferred stock 7% cum redeem 55 auth $15,000,000
Two-year gold notes (refunding) redeem (text)
.Bk.xxx
united Caper Board Co—Com stock $12,000,000 antn
Pref stock 6% non-cum $1,500,000 red 110 (Vol. 104, p. 709)
United Ret Stores Corp—Com stk 1,000,000 "A" sbs. no pr
Founders stock 160.000 shares no par (Text)
Pref (a & d) stock 8% cumul call 120 auth $10,000,000
United Shoe Machinery Corp—Common stock $35,MrtMtfk*
Pref (a & d) stock 6% cumulative $15,000,000 (sec text).
Par
Value
Date
[For abbreviations, &c., see notes on page 6}
1916
61,029,800 See
4,554,800
50
1.000
io5
.
DIVS.— 1904-00. '07. 1908-11. 1912. 1913. 1914-18. 1919. 1920 1921.
Regular —7% yrly. 7*4% 8% yly. 8%
8%
8%
9H% llfc
See
10 yrly.
2%
--H%
text
In 1921: Jan. 15, 4% in cash and 100% in stock; April 15, 2% in cash.
—
——
--
obligations), $136,687, being the entire funded debt of the company.
REPORT.—For year ending Dec. 31 1920 in V.
1920.
1918-19.
112,
P.
1916-17.
'
12 mos.
15 mos.
12 mos.
12 mos.
Total Income—-——$44,615,274 $38,386,308 $24,830,006 $17,593,391
Less: Interest charges—
25,187
206,685
839,509
867,567
Estimated taxes— 15,581,780
18,010,105
9,896,450
3,686,869
Dividends declared-...
Surplus
-.
*—.
6,518,990
4,025,320
3,903,392
—$22,489,317 $13,873,955 $10,068,727
$9,134,564
-
6,289,562
DIRECTORS.—Andrew W. P-eston (Pres.), V.-P's Minor O. Keitb,
Victor M. Cutter, Eugene W. ong. William Newsome and Crawford B.
Ellis; Bradley W. Palmer (Sec.), Robert F. Herrlck, John S. Bartlett, W.
Cameron Forbes. Reginald Foster, F. R. Hart George O. Lee, K. K. Mc¬
Laren and W. S. Spauldlng.
Treas. is Cecil B. Taylor.
General offices,
131 State St., Boston.—(V. 112, p. 253, 267, 477, 558, 1032, 1290, 1525,
1749.)
UNITED FUEL OAS CO.—This company whose property Is describe!)
under caption of Columbia Gas & Electric Co., (owner of 51% or more
of the $10,000,000 capital stock) made a new $15,000,000 mortgage Jan. :
1916 under which there have been sold $14,686,000 1st M, 6s.
The un
issued bonds are reserved for new properties, extensions and improvements
and can be issued only to the extent of 80% of cost.
The bonds
are
so
cured by a first mortgage upon the entire property.
Annual sinking fund
beginning March 11922, is to retire outstanding bonds at or before maturity.
V* 104, p, 1708.
See official statement to N. Y. Stock Exchange (V. 103,
p. 113&J also see V, 102, p. 1726,1816,1998; V. 103, p. 2161,2245; V. 104.
p. 869.
See V. 106, p. 1140.
In 1917 paid a stock dividend of $1,000,000, and in April 1920 declared a
stock dividend Of 200%, increasing the capital stock to $30,000,000.
REPORT.—For year ended Dec. 31 1920: Gross, $12,493,158; net,
$8,351,480; other income. $34,100; interest charges, $630,344; Federal taxes,
$903,395; dividends, $4,800,000; bal., def., $14,967.
V. 112, p. 1516.
Pres., F. W. Crawford, Columbus, O.—(V. 112, p. 1516.)
(THE) UNITED GAS IMPROVEMENT CO.—Organized 1882 in Penn¬
sylvania; reorganized in 1885.
Charter is perpetual and business is the
building, leasing and operating of gas works, Ac. (see list in 1900, V. 70. p
------
-r.
io?
82, p
"v^iTp^Mb
1304, 1373: V. 88'. p. *4~i:
90,'
168$
V. 92. p. 1699: V. 95. p.
116,
100, p. 404. 647: V. T03, p
1597.
In 1918 organized the U. G. I. Contracting Co. of which it ownt
the entire capital stock.
The new company wil take over all the construe
tion business Ac. of U. G. Improvement Co.—V. 108. p. 1719.
In Sept. 1920 the company sought a readjustment of its lease of the
City
Gas Works, V. Ill, p. 1190, 1860.
v"W,p' 1000;' V."
&9;V.
p.'
STOCK.—Increased in 1906 from $36,725,000 to $45,900,250 and in 190'
to $50,473,350; In 1910 to $55,520,700,
V. 89. p. 1600: V. 88, p 1201
Shareholders of record May 12 1917 were allowed to subscribe at
par til)
June 15 for $5,552,100 (10%) new stock, making total stock $61,029,800.
V. 104, p. 1697.
The stockholders voted May 3 1920 to Increase the capital stock by
300,
000 shares, par $50 each, all of said increase being 7 % Cumulative Preferred
stock
t
Stockholders of record May 7 1920 were given the right to subscribe for
122,060 shares of said Preferred stock at par ($50) per share to the extent
of 10% of their holdings.
V. 110, p. 1979, 2574.
Preferred stock has equal voting rights with common and is redeemable,
all
or
part, at $55 per share and dividend.
DIVIDENDS.—From 1888 to 1920 8% per annum, payable quarterly.
15 and April 151921 paid 1 % quar., reducing the annual rate to 4 %.
In Jan. 1896 paid extra 15% in convertible scrip; also 10% extra March 1
On Jan
.
1910 in scrip convertible into stock to June 30 1910.
Also in April 1917 2%
extra from profit on sale of securities. V. 104, p. 1050.
On new preferred
paid 1*4% quar. Sept. 15 1920 to June 15 1921.
NOTES.—The $7,500,000 8% gold notes due Feb. 1 1923 were issued
a like amount of 6% notes due Feb. 1 1921.
Redeemable, all or
in amounts not less than $250,000, on Aug. 1 1921 and Feb. 1 1922 at 102
and int., and on Aug. 1 1922 at 101 and int. V. 112, p. 267.
to refund
REPORT for 1920, in V. 112, p. 1737, shows:
1920.
1919.
Regular inc. from leased
works and investments $6,382,298
$6,481,687
Profits on sale of secur.746,474
-
Total income...
$7,128,773
2,219,325
2,605,571
■
1U
1 '21 $1.50
2i $1.50
Apr
51921"2% /Checks from American
Co,
Trust
l
Apr 51921 13^
Boston
!<;•
DIRECTORS,—Effingham
B.
Morris, Samuel T.
Bodine (ex-offtcio),
V.-P., Walton Clark; V.-P. A God. Mgr., Lewis lAllie; V.-P., W. F.
Oouthirt; V.-P., Paid Thompson: V.-P., P. H. Gadsden: Treas.. I. W.
Morris; Sec., Geo. W. Curran, Broad and Arch Sts., Phila.—(V. 112,
267, 1032, 1407, 1737.)
p.
UNITED PAPERBOARD CO., INC.—Incoiy. Feb. 27 1912 in N
J.
and acquired at foreclosure sale the properties or the United Boxboard Co.
Product is pulp and paperboard for the manufacture of paper
containers and
kindred commodities.
CAPITAL STOCK.—The auth. pref. stock was decreased from $2,500,to
$1,500,000 in Nov, 1920.
Prer. and
common
stocks have equal voting
power.
DIVS.—On
pref., 1K% quar. Oct. 15 1916 to July 15 1921.
On com¬
mon;
Dec. 15 1917, H%: Dec. 15 1918, 1%; May 27 1920, 2%; Sept. 16
1920, 2%; Jan. 10 1921,2%.
REPORT.—For year ended May 29 1920, In V. Ill, p. 893, showed;
1919-20.
1918-19.
1917-18.
1916-17.
Gross earnings. —
Net Income—-
$1,664,731
$686,170
$715,472
$1,937,339
1,340,010
Depreciation..
500,000
Preferred dividends—(6%)94,633
Common divs——
(2%) 183,636
488,111
547,914
1,428,111
300,000
400,000
600,000
94,616
95,177
(K)45,904
103,672
-..-
—
--.
—
(1)91,811
Surplus
$561,741
$1,684
$6,833
$724,439
Earnings for 6 mos. ended Nov. 29 1929; Gross earnings, $1,116,794;
$1,006,749; Int. charges, $3,764; pref. divs., $23,661; com.
divs., $183,638; bal., surplus, $795,686.—V. 112, p. 467.
OFFICERS.—Pres., Sidney Mitchell; V.-Pres., Matthias Plum; Treas.,
Chas. E. Daniel; Sec., M. Bechthold.
N. Y. office, 171 Madison Ave.—
V. Ill, p. 2529.
— .
—
—
net earnings,
UNITED RETAIL STORES CORP.—ORGANIZATION.—Incorp. in
Delaware June 9 1919, to establish a system of manufacturing business and
retail chain stores throughout the world for merchandising of all kinds.
Official statement to the N. Y. Stock Exchange in
V. 108, p. 2439,2638.
V. 109, p. 585.
The corporation in
Nov. 1920 had acquired about 254,684 shares of
United Cigar Stores Co. of America Common stock, in accordance with its
offer to acquire the outstanding Common stock by issuing therefor two
shares of United Retail Stores Corporation Common Class A stock (without
nominal or par value) for each share of Common stock of the United Cigar
Stores Co. of America. V. 109, p. 1994.
Reported in March 1921 to have
acquired a substantial block of R. J. Reynolds Co. Class "B" common
stock. V. 112. p. 1032.
In Aug. 1919 the Common
■■
;•
shareholders were permitted to subscribe at
$10 per share for an equal amount of Class A Common stock of U. R. 8.
Oanay Stores Co., Inc. (which see below), the United company itself sub¬
scribing for all the 400,000 Founders shares at $1 per share.
Y. 109, p. 686.
Has also acquired a large interest In the business of Giimer Bros,
v
110,
P.
881.
DIVIDENDS.—An initial
Common dividend of $3 a share was paid
1 1920.
In Aug. and Nov. 1920 paid 5% in common stock.
On
July 11921 paid $1.50 pot share on all classes of common stock.
V. 112, p.
2199.
1
STOCK.—In Dec. 1920 10 shares of the Pref. stock was paid but none
issued; 160,000 shares of the Founders stock was also paid for but none
Issued, and 50,000 Common shares were paid for at rate of $70 per share;
the 593,240 shares outstanding include those reserved for exchange of
United Cigar Stores Co. of America stock.
All stocks have equal voting
power.
In case of liquidation the Pref. stock is entitled to (a) 120 and div.
Uf the liquidation be voluntary and (6) par and div. if involuntary.
V. 109.
p. 585*
EARNINGS.—The report for the 11 months ended Dec. 31 1920 shows:
Net profits, incl. stock dividends paid out of earnings of sub. cos., $5,705,056; reserve for Federal taxes (est.), $920,817; balance, $4,784,239; previous,
surplus, $3,031,285; total surplus, $7,815,524; common divs., $3,685,173;
profit and loss surplus, $4,130,351.
OFFICERS.—Pres., George J. Whelan; V.-Pres., C. A. Whelan, Sidney
S. Whelan and Samuel B. Woods Jr.; Sec., Alex. H. Sands Jr.; Treas.,
George Wattley.—(V. 112, p. 267, 856, 1032, 2199.)
Feb.
,
U. R. S. CANDY STORES CO., INC.—ORGANIZATION.—Incorp ir
Delaware on Aug. 1 1919.
United Re'ail Stores Corporation (see above)
a large interest.
In Mar. 1921 was operating 25 stores and 4 candy
factories. V. 112, p. 1022.
Authorized capital of 1,250,000 shares—all
common stock—having no nominal or par value and having equal rights and
owns
privileges, viz.; (a) 400,000 Founders' shares, (6) 850,000 class "A" shares,
in Sept. 1919 acquired the business of Fuerst & Kraemer, candy makers.
New Orleans, doing annual business of from $1,250,000 to $2,000,000.
Factories, &c., V. 110, p. 881; V. Ill, p. 700. V. 112, p. 169.
Report
for period ended Dec. 31 1920 in V. 112, p. 1022.
OFFICERS.—Pres., Edw. Wise; Sec., A. H. Sands Jr.; Treas., Geo.
Watley —(V. 112, p. 169, 1022, 1032, 1875.)
v
UNITED SHOE MACHINERY
CORPORATION.—ORGANIZA¬
TION.—Incorp. in N. J. V.JH), p. 1802.
Properties, V. 08, p. 333, 430:
7. 74, p. 430; V. 75. p. 851; V. 80. p. 1486; V. 91. p. 878; V. 92, p. 1099;
7. 97, p. 1359; V. 99, p. 275.
The merger of the United Shoe Machinery
Co., the operating company, with the United Shoe Machinery Corporation,
che holding company was finally consummated Nov. 30 1917.
v. 105, p.
1426.
The U. S. Supreme Court on May 20 1918 refused to order the dissolution,
of the company for alleged violation of the Sherman Anti-Trust Law.
As
to this and the Clayton Act suit, see Y. 106, p. 2238, 2224.
On Oct. 21
1918 the Government was refused a rehearing of the dissolution suits.
V. 107, p. 1673: V. 108, p. 2237.
Govt, suit upheld by U. S. District
Court at St, Louis, V, 110, p. 1421.
Appeals filed, V. Ill, p. 800, 1287.
DIVIS.—
t.mcommon.
$5,777,537
2,089,500
$7,654,806
508,638
Extra cash
4,882,384
4,582~,755
Balance, surplus—def. $2,664,771def $1097,044
$214,125
$1,332,750
1*08.
%\
8
5 1917
*09.
*10
8
..
an
*11-*14
*15.
8 yrly
2
1
Bzira stock.—125
On July
$8,163,444
2,247,939
15*21
E. T. Stotesbury, Randal Morgan, Wm. Wood, Wm. C. Dickerman and
Vlorris L. Clothier.
Pres., Samuel T. Bodine; V.-P., Randal Morgan;
'1917.
$7,867,037
2,770,527
4,968,647
Bankers Trust Co, N Y
1923
'21 2%
10
Injunction suspended. V. Ill, p. 1573.
1918.
$6,481,687
1,964,076
732,271
4,882,384
Exp., taxes, int., &c.__
on op. Phila. G.W.
Dividend paid
Loss
1
—
558:
1917-18.
text
9,996.375 6 in 1920
—.
DEBENTURES.- During 1919 the company retired, or provided for the
retirement of the following debt: 4H% debentures, $4,925,000; Nlpe Ba>
Co
5% bonds, $3,350,000; Elders k Fyffes, Ltd., debentures (steamship
,
Pittsburgh
Philadelphia Office
1
Text
See text
84,667,839 See
25
25
NOTES.—To provide for future financing, the share
holders voted Jan. 1916 to increase the authorized capital stock to $75,
000,000; V. 101, p. 2150. 2078: V. 102, p. 1442.
On Dec. 31 1917 $1,
624.100 stock was issued In exchange for minority stock of Nipe Bay Oo.
increasing the amount outstanding to $50,316,500.
On Nov. 1 1920 thit
had been reduced to $50.000,000,3,165 shares having been bought in during
the year.
The 100% stock dividend distributed on Jan, 15 1921 increased
the amount outstanding to $100,000,000.
The stockholders on Dec. 8
1920 voted to Increase the auth. capital stock from $75,000,000 to $150,
000,000.
V. Ill, p. 1860, 2333.
The American International Corp. has a large Interest in the company.
-.—-
New York &
June 15 *21, 1
July 1
STOCK AND
Extra
.
1 1936
Apr 15 '21
Q—M
100
Dec. 31 1917 took over the property of the (controlled) Cuban sugar
NIpe Bay Co.
V. 105, p. 2006, 2269.
Interest in New
England Oil Corp. and Radio Corp. of America.
V. Ill, p. 2050; V. 112,
p. 1290.
V." ■ v
.
J Jan
o—-T
F
&
A Feb
8 g
7.500.000
Jan
10,105.000 See text
too
July
1,100,000 ft in 1920
Text
None
July
666,974 shrs See text
1921
company, the
.
A
J
6 g
text
7
500 Ac $14,686,000
$50
and Maturity
Payable
%
Places Where Interest and
Dividends are Payable
Last Dividend
When
Bate
Amount
Outstanding
>
.
[VOL. 112.
STOCKS AND BONDS
INDUSTRIAL
236
4
10
10
*10
8
_
8
10
...
0
*17
*18.
8
8
—-
10
*19.
8
4
Text
6
"20.
12.
—
1921
See
text
..
extra dividend of 10% in stock and 4% in Liberty
V. 104, p. 2457.
In
Loan bonds, in addition to the regular quarterly 2%.
1921: Jan.
5, 2%; April 5, 2%.
On July 5 1916 6% extra In cash; also on July 15 1916 15-1000 of a share
of Thomas G. Plant Co. Preferred stock (outstanding $2,500,000 each of
Common stock and $2,500,000 7% cum. pref. stock (par $100), (V. 102,
P.
2259)
as
to each $25 share held on June 19, see V. 102, p. 2260, 2347.
MAT, 1921.]
INDUSTRIAL
'
MISCELLANEOUS COMPANIES
see notes on page 6]
[For abbreviations, cfee.,
M
1
STOCKS AND BONDS
Dote
S Cast Iron Pipe & Fdy Co—-Com stock S15.000.000 auth.
Preferred stock 7% non-cumulative $15.000,000 auth
Rate
When
Last Dividend
%
Payable
and Maturity
See
1902
...
1916
100
1911
v—M 15 See
.»
It
See
See
text
7g
1% Offloe, Burlington. N J
text
do
do
Chattanooga.
Tennessee
Old Colony Trust Co, Bos
3)4%
do
do
Dec 1 1921-34
do
do
June 11921-25
Oct 18 *20 IX by check
~
See text
Mar 1 *21
?
J
text
A
A
Oot 1 1927
B ankers" Trust" CoT ~N Y
Q—M 31 June 30 '21
$1
7
June 30 '21 IX
Q—M
M
&
S Sept 1 1921
5
A O Becker & Co
Chicago
8 in 1920 Q—M 15 June 15 '21
Checks mailed
Q—J 16 Apr 15 '21
Checks mailed
-
e
O
Text
Q--F
1,836.600
95,000
1,000
1 1907
Places Where Interest and
Dividends are Payable
July 1 1928
text M
See
n
Dec
text
5
1,000
1908
Distillers Secur Oorp coll trust M g call 105 (text)„_Ba.xxc*
United States Gypsum Co—Common stock
Pref stock 7% cumul__
....
Debenture notes $1,000,000 redeem 101
C C
U S Industrial Alcohol Co.—Common stock ($24,000,000)
Pref stock 7 % cum guar red text
Securities of Subsidiaries Held by Public—
Cuba Distilling Co pref stock (V 103, p 2158)
Purity Distilling Co bonds..
Amount
Outstanding
$100 $12,000,000
100
12.000,000
X692.000
100
1,750,000
100
4,000,000
«
000
1,450,000
1,000
1,000,000
100
30.774,180
459,387
1,000
5,546.227
20
3,948,694
100
5,964,810
1,000 Ac
1,000,000
100
24.000,000
100
6.UOO.OOO
1898
Serial gold notes due $200,000 yearly June 11921-25-OB.c
U S Food Products Corp—'Stock one class
...........
Stocks of constituent cos held by public Jan 11921
s
Par
Value
Bonds
American Pipe & Foundry first mtge SI 500.000 sk fd -.z
tilted States Envelope—Common stock $4,000,000.
Preferred stock (a <& d) 7% cumulative $4.000,000
let M g part yrly red 104 aft Dec 1919-.
OBsc*
337
J
&
do
15 May 15 19211X
D June 1 1936
Amer Trust Co, Bos ton
After deducting $808,000 in treasury and sinking fund.
REPORT,—For year
1
As to old
ending Feb. 28 1921, showed:
1920-21.
1919-20.
1918-19.
$8,018,100
1,500,000
5,446,771
$7,495,121
1,000,000
4,750,338
def$3,237,174
$1,071,629
1921 was $24,433,441.
$1,744,783
Combined net earnings
Excess profits taxes
$3,019,872
1,500,000
Cash dividends paid (com. and pref.)_ 4,757,046
Distilling Co. of America, compare V. 106,
Status in April 1921, V.
Balance, surplus, for year.
The total surplus March 1
P.
DIRECTORS.—Edwin
Brown
(Pres.),
Geo.
W,
Brown
(V.-P.).
G. Wing, Charles G. Rice,
Connor
(V.-P.),
A. R. Turner, Samuel Weil, J. H
Winslow Jr. (V.-P.), William Woodward
W.
Sidney
Robert F. Hernck, Robert Barbour, W. R. Sampon
(Gen. Mgr.), Chas. G
Bancroft, H. G. Donham, Sec. & V.-P., Albany, Bldg., Boston, Mass.—
(V. 112, p. 1172.)
UNITED STATES CAST IRON PIPE & FOUNDRY CO.—ORGANI¬
p. 233; V. 69, p. 757;
ZATION.—Incorp. in N. J. March 13 1899. V. 81.
V. 71, p. 1124.
Properties, rights of stocks, &c., v. 85, p. 157, 1522;
V. 103, p. 1709; V. 109. p. 1086.
DIVS. f '07. '08. '09. TO. '11. *12. '13. *14, '15. '16. 1917 to March 1921.
Pref %
3X
7
Com._( 4
5X 6
2^
None
2
4
2
0
-
-
-
5% yrly. (IX Q.-M.)
4
_
-
The directors in Feb. 1921 declared a div. of 5% on the pref. stock, pay¬
able in quar. installments during 1921.
Total income
$1,324,243
.
-
Interest
Pref. divs
(5%)
def$76,213
$1,541,581
118,328
—
Depreciation reserve..
82,557
59,004
$1,820,744
42,351
$1,442,571
430,364
160,615
$6,344
424,706
600,000
600,000
$1,600,585
405,907
85,641
600.000
$1,863,095
403,640
17,341
600,000
—
85,341
$251.692def$1103,703
Surplus for year-..-.
112, p. 1875.
STOCK.—Authorized capital stock was formerly $32,500,000, but by
the stockholders on March 19 1919, certificates for $1,534,100
197
were
canceled, leaving the present auth. capital stock $30,965,900.
BONDS.—Of the $16,000,000 Distillers 5s, $10,158,000 had been pur¬
chased, acquired by corporation and canceled; $295,772 issued but not used
for conversion, leaving $5,546,228 outstanding as of Dec. 31 1920.
DIV.—
\'07. 1908.12. T3-*I5. '16 to Jan. *18 Apr.'18 to Jan.'20 1920
Par cent.
15% 2% yrly. None.
3% yrly.
8% yrly.
text.
From April 1918 to Jan. 1920. inclusive, paid each quarter X of 1% and
1 X% extra.
In April, July and Oct. 1920 paid IX % quar.
Jan. 1921
div. was deferred.—V, 111, p. 2333.
REPORT.—For year ending Dec. 31 1919, in V. 112, p. 2080:
Year ended Dec. 31—
1920.
1919.
1918.
$509,037
$742,140
1917.
Net income
Interest on bonds
$2,898,280 x$3,354,947x$10,514,810 x$5,497,377
689,906
303,043
458,222
706,944
Written off property acct.
450,000
3,733,030
7,928,503
2,641,149
Reserve no longer needed
Cr.141,530
Dividends
(4X %)1,385,436 (8)2,462,594 (8)2,462,787
(2)616,117
....
sur$372,938df$3,143,720 def$193,172sr$l,533,166
war excess profits taxes.
Balance
REPORT.—For year ending Dec. 31 1920, in V. 112, p. 1280, showed:
Calendar Years—
1920.
19*9.
1918.
1917.
Net operating income—
Other income.
68,p.l224i
vote of
Moses B. Kaven (V.-P.), Wm. Warren Barbour, Louis A. Coolidge (Treas ).
Edmund Le B, Gardner, E. P. Hurd (Vice-Pres. &
Asst.
Treasurer).
Daniel
p. 610; V.
The Trans-Oceanic Commercial Corp. was incorporated in N. Y. State In
Jan. 1919 with capital stock of $1,000,000, and offices at 27 William St.,
■NT. Y.. to take charge of the export of the corporation's whiskeys, spirits,
alcohol and other products and by-products.
x
After
providing for income and
DIRECTORS.—Alvin
W. Krech (Chairman). Julius Kessler (Ch'm.
Q. Palmer (Pres.), W. B. Baker, Theo. F. Reynolds,
Henry H. Wehrhane (V.-P.), Oscar L. Gubelman, Thos. A. Clark (Treas.),
E. V. R. Thayer, Joseph C. Baldwin, Jr. (V.-P.).
Other officers: M. A.
Holzinger, Sec.
Office, 15 Exchange Place, Jersey City; 25 Broadway.
Exec. Comm.), G.
N.
Y.—C^
112, p. 169, 380, 1875, 2080, 2199.)
UNITED
STATES GYPSUM CO.—ORGANIZATION.—Incorp. in
1920 as successor to a company of the same name incorp. in
New Jersey Dec. 27 1901 (V. 74, p. 1138).
Manufactures all classes of
Illinois in
OFFICERS.—Pres., L. R. Lemoine; V.-P. pro tem., W. T. C. Carpenter;
Sec. & Treas., B. F. Haughton.
gypsum hard-wall plasters and other gypsum products, including cement,
wood fibre, concrete, finishing, moulding ana pottery plasters, stucco,
DIRECTORS.—Geo. B. Hayes, Colgate Hoyt, Colgate Hoyt Jr., A. C.
Overholt, E. C. Fuller, George J. Long, P. J. Goodhart, W. T. C. Car¬
penter, B. F. Haughton, N. F. Brady, J. C. Brady and L. R. Lemoine.
—(V. 112, p. 169, 478, 1171, 1280.)
beam and column protection, floor tile and roof tile, plaster boards, &c.
This company with a supply of over 135,000,000 tons of gypsum is the
dominant factor in the industry in the United States.
Has been for a
Keene's cement and
UNITED STATES DISTRIBUTING
UNITED
V. 66, p.
l?NVELOPE
STATES
CORP.—(V. 112,
CO.—Incorp.
in
p.
in
Maine.
1003.
CAPITAL STOCK.—The stockholders
the authorized common stock
on Jan. 7 1921 voted to increase
from $1,000,000 to $4,000,000.
Common
1921 had the privilege of subscribing at par
stockholders of record Mar. 1
for one share of [$750,000] new stock for eacn share of common stock held.
This with the $250,000 issued as a stock dividend in Mar. 1921 increased
the outstanding stock to $1,750,000.
LATE DIVS.—
Preferred
(%)
In
extra
----.
on common
V.
112, p. 753.
'09. '10. '11-12.
^6 yearly. 9%
-{
Common (%)
do
f '07-'08.
--
13. '14-16.
17-'20.
8 9M yly. 11H 7 yearly
7
2^7yearly
7
--
—-
stock in March
2
*21.
See
text
A
1921: Mar., 3 A 7c and 2H% extra.
'o
Stockholders of record Mar. 2
dividend of 33 1-3%.
a stock <
1921 received
BONDS.—The first mortgage 5% serial gold bonds of 1908 ($2,500,001
mature Deo. 1 yearly from 1920 to 1937.
In Nov. 190c
$2,000,000 were sold (falling due $50,000 yearly from 1910 to 1924, $100,00'
from 1925 to 1929 and $150,000 1930 to 1934.
V. 87, p. 1360, 1163.
In
May 1920 sold $1,000,000
from June 1 1921 to 1925.
V.
p. 2200.)
authorized issue)
serial^7<^> gold notes, due $200,000 per annum
REPORT.—Year ending Dec. 31 1920, in V.
112, p. 847, showed:
Deprec.
"
Net
Calendar
Year—
Bond
'
Res, for
Profits.
Interest.Taxes, &c.
1920- —--$2,275,697 $116,646 $1,646,287
1919
1,630,189
77,291
908,934
1918—— 1,713,619
79,792
996,727
1917
1,042.518
82,292
170,779
Balance
Pf. Divs.
Com. Divs. Surplus
(7%).
$90,000
$142,764
$280,000
71,250
280,000
292,714
71,250
285,850
280,000
71,250
438,197
280,000
OFFICERS.—Pres., O. H. Hutching, Shrewsbury.
Day; Sec., W. M. Wharfield, Springfield, Mass.—(V.
847, 941.)
Treas., Wm. O.
112,
p.
169, 753,
PRODUCTS CORPORATION.—ORGANIZATION.Incorporated in New Jersey on Sept. 18 1902 as Distillers Securities Cor¬
poration, per plan V. 74, p. 1310, 1358. On April 51919 present name wai
adopted and the corporate powers were enlarged to include the right "tc
manufacture food and feed products of all lands and products and by¬
products of all kinds, of grain, beets, molasses, and other materials of al)
kinds; and to own, lease and operate central denaturing plants and ware¬
houses for denaturing alcohol and spirits."
The change of name in nc
way affects the corporate identity or the company or its property.
Com
pare V. 108, p. 1516.1168. 1063; V. 109. p. 80.
Owns five large distilleries located at or near Louisville, one of these pro
ducing commercial alcohol.
V. 107, p. 1290.
It also has five other alcohol
distilleries located in Illinois and Indiana.
In Feb. 1919 was understood
to be planning to convert three distilleries in Peoria, 111., and one at Pekin
111., into plants for the manufacture of sugar from corn by a new process.
The six alcohol plants are reported to have a capacity of 250,000 gal. a
day.
V. 107, p. 1290, 1388.
In Aug. 9 1919 had purchased for cash (a) large molasses alcohol plant
at New Orleans; (b) the entire capital stock of five leading companies In the
mola^see handling and distributing business, with 25 vessels of various sizes
and tank and station facilities at various points in the West Indies, United
States, Canada and Great Britain, thus completing the facilities for obtain¬
ing at first hand the raw material needed m the manufactures of alcohol
and various kinds of animal feed.
V. 109, p. 585.
Twenty-three distillery properties controlled by the company were sold
in Nov. 1918 (as a result of the prohibition movement) for $241,100.
V.107.
p. 2011. 1290, 1388.
.
U.
S.
FOOD
fireproof partition, wall board, the,
number of years, the world's largest producer of gypsum (plaster of
doing about 40% of the business m the United States.
1171.)
1898
hydrated lime;
parts),
Its principal proper¬
ties, consisting of mines, mills, quarries, warehouses, are located in different
parts of the United States.
STOCK.'—Early In 1920 announcement was made that the company
would re-incorporate and re-capitalize under the laws of Illinois.
The
capitalization was increased from $10,000,000 to $18,000,000.
The com¬
pany had $6,000,000 Preferred and $4,000,000 Common stock, both of
$100 par value. Under the recapitalization plan there will be $10,000,000
Preferred,jpart of which will be exchanged, share for share, for old Preferred
and 400,000 shares of Common stock of $20 par value.
The new Common
stock will be exchanged five shares for one of old common.
Stockholders
on
Aug. 17 1920 voted to adopt the plan.
V. 110, p. 1533, 666.
DIVIDENDS.—On Pref. stock:
1906, ZX%1 1907, 7X%; 1908, 5%;
1909, 6%; 1910 to 1912, 6% per annum; 1913. 5X%; 1914, 6%; 1915.
dX % cash and 43% on all accumulations in Common stock (V. 101, p. 136,
619, 1633) 1916 to date 7% per annum.
On common, 1 % quar. from Dec.
31 1919 to Mar. 31 1921.
On June 30 1921 paid $1 per share.
On Dec. 31
1920 also paid 5% in common stock.
V. Ill, p. 1958.
EARNINGS.—Calendar year 1920 shows:
Net
Repairs,
Bond
Common
Pref.
Balance,
Div*
Profits.
Depr.,&c. Int.,&c.
Div.
Surplus.
$2,126,778 x$421.567
—$417,335 $355,100 $932,775
39,049
2,084,200
x939,619
$68,471
397,567
639,494
1918
1,418,563
x688,794
70,447
373,026
286,296
1,288,673
x485,006
70,431
372,844
360,392
x Includes
reserve for Federal taxes
1920, $421,567;
1919, $212,000;
1918, $98,012; 1917, $78,726.
Pres., S. L. Avery; Sec. & Treas., E. L. Marsh.
Office, 205 West Mon¬
roe St., Chicago.—V. 112, p. 1032, 1985.
1920
1919—
U. S. INDUSTRIAL ALCOHOL CO.—ORGANIZATION.—Incoroin West Virginia Oct. 17 1906 and manufactures denatured and Industrial
alcohol, Ac.
The distilleries of the subsidiary companies were taken over
Jan. 1 1918.
Also controls U. S. Industrial Chemical Co.
V. 105, p.
2100.
V. 84, p. 343; V. 101, p. 777.
The Distilling Co. of America (con¬
trolled by the Distillers' Securities Corporation) in June 1915 sold the
(6,350,000 of the $12,000,000 com. stock owned by It.
Its guaranty of
the preif. divs. of Industrial Co. extending for term of charter to Oct. 17
1956.
V. 100, P. 2015; V. 101, p. 218.
Application to list, V. 92, p. 1106
V.109, p.1994. In 1918purchased an additional distillery at Peoria, 111., for
the purpose of manufacturing alcohol to meet the growing demands for the
ase of that commodity in making powder for the Govt.
V. 106, p. 1143.
The Columbus Distillery in Brooklyn was destroyed by fire in Sept. 1919.
In Nov. 1919 was expending $12,000,000 derived from sale of new capital
stock In construction and development work on account of new products,
notably alcogas, the company's substitute for gasoline, and the establish¬
ment more or less extensively of service stations for purpose of introducing
same. V. 109, p. 166, 782.
STOCK.—Pref. stock may be redeemed on any dividend date at 125 and
No mortgage without consent of 2-3 of pref. stock.
• shareholders voted Oct. 7 1919 t > in rease the com. stock from $12.*
accrued dividend.
Th
000,000 to $24,000,000 com.; shareholders of rec rd on Oct. 21 were given
the right to subscribe at $70 a share for the entire new issue, share for share.
V. 109, p. 782, 894. 1086, 1468.
DIVIDENDS.—On pref. stock since organization to Oct. 15 1920,1X %
Q.-J. On Aug, 21917 a cash div. (No. 1)16% was declared on common stock
surplus accumulated prior to Dec. 31 1916, for the year 1916, to be
paid on Oct. 1 1917 to holders of record on Aug. 20, and a div. of 16% for
the year 1917. to be paid on Dec. 1 to holders of record on Oct. 20.
Mar.
1918 to Sept. 1919 paid 4% quar. (16% p. a.); Dec. 1919,2%, after increase
of stock and pending the construction and development involved In estab¬
lishing new lines, notably Alcogas, March 1920 to June 1921, 2% quar. J
out of
Date
6]
Corp—let M • f SI .000.000 gold call
Par
Amount
Rate
When
Value
Outstanding
%
Payable
and Maturity
text
16.162 800 See
11.930.000
5 sr
100
l.onn
100
I0O
1904
1920
500
kc
20.000,000
F
&
A Aug 1
1906
1917
100
kc
A
6
J
5
See
text
17.555.750
24 3)7.500 7 In 1920
F
6 g
12.000,000
k
O Oct
J Jan
Interest
190,784
617,072
87,987
__
Loss
on
sale of bonds—
Ind.\Pref. (7%)--
2.600,000
50
500 kc
1916
1,920.000
Co
Alc
128,562
Cuba Dlst
A. G. Robinson.
$12,510,077
„
162.434
5,239,861
1,887,207
621,199
867.488
$494,858
$2,394,102
$2,720,420
F. M. Harrison;
Sec., Joseph Malone; Treas.,
Office, 27 William St., N. Y.—V. 112, p. 1525, 1614.
U. S. LIGHT & HEAT CORPORATION —ORGANIZATION.—In¬
corporated In N. Y» June 28 1915, per plan in V. 100, p. 1924, as successor
of tJ. S. Light & Heating Co. of Maine, foreclosed.
Additions 1919, V
108, p. 2121.
Stock authorized, In $10 shares; 7% non-cum. pref., $3,000,000; pref. "A," $1,500,000 (authorized on Dec. 23 1920) com., $4,000,000; outstanding Dec. 31 1919; com., $3,778,250; pref. $2,995,150 notes
payable, $822,893.
Bonds auth., $1,000,000.
In Aug. 1919 John N.
Willys and associates, it is understood, purchased control.
Mr. Willys
becoming Chairman.
REPORT.—For calendar year 1919 was in V. Ill, p. 1079.
une
30
Cal. Year
18 Mos. to—:—Ju
1916-17.
1919
Dec. 31 '18
231,420
98,316
497,092
116,114
91,131
60,260
loss211,397
31,222
10.000
....
Deduct—Net int. k disc...
Res. for bad accfcs. chgd
30,480
18,017
12,909
to oner....
for income tax
Res.
Years
1915-16.
$1,751,365
$5,092,843 $7,030,039 $3,017,874
Net shipments billed
Total net income
24,100
loss$248,406
OFFICERS.—Chairman, John N. Willys: Vice-Chairman, E. H. Gold:
Pres., O. O. Miniger; V.-P. & Gen. Mgr., D. H. Kelly; V.-P. & Sec., R. H.
Van Nest;
Treas., Henry H. Knapp.
Office, Niagara Falls, N. Y.—
Balance surplus
$12,854
$350,498
$91,881
(V. 112, p. 68, 478,661,753.
UNITED STATES REALTY & IMPROVEMENT CO—ORGANIZA¬
TION.—Incorporated in N. J. on May 26 1904 and In May 1906 had acquired
per plan In V. 78. p. 2019. $32,750,200 of the $33,198,000 common stock and
$26,596,200 of the $27,011,100 pref. stook of the U. S. Realty & Construc¬
tion Co.
See list of assets, &o.. In V. 80, p. 2340; also statement to N. Y
Stock Exch., V. 75, p. 1200.
See V. 77. p. 297 , 953 , 2103 , 2396; V. 78
p. 51; V. 82, p. 1274; report, V. 86. p. 146% V. 92. p. 1433; V. 85. p. 1344
Owns $403,30(5 of $2,000,000 Alliance" Realty
1406; V. 90, p. 30/, 633.
~
J *
"
CO.stock.
V. 81. P. 1798: V. 82. p. 1209; V. 83, p. 822; V. 90. p. 1422
Statistics
of the George A. Fuller Co. for Years Ending April 30.
1918—19.
1919-20.
.
$24,972,519 $38,621,370
37,506,734
37.398,197
29.876,355
51,047,048
32,602,898
24,972,519
Unfinished business at beginning of year
New business during year
Work executed during year
Unfinished business at end of year
„
SECURITIES.—Of the stock $13,506 000 is reserved ror conversion oi
the bonds.
No general
mortgage can be made without first securing the
debentures by mtge.
To April 1911 the company purchased $1,354,000
of the debentures, reducing the amount to $11,930.000.
V. 90. p 241, 378
Loans
on
mortgage outstanding April 30 1920, $13,848,000, as against real
valued in balance sheet at $33,320,273.
estate and bldgs. owned
$7,000,000 Trinity Bldg. Corp. (N. Y.) 1st M.
V. 108, p. 2248.
Guarantees prin. k int.
BH loan.
DIVIDENDS—
(1907
\
1908
1909
1910-13
1914
1915
1916-20
4H
5 yrly.
3H
1
0
REPORT.—For year ending April 30 1920 in V. 110, p. 2656 showed:
Per
cent
1919-20.
Total earnings...
1918-19.
1917-18.
1916-17.
$2,655,749 $3,083,964 $2,417,173 $2,432,243
1,493.592
2.076,596
1,371,921
1.089,892
596.500
596.500
596,500
596.500
Net
earnings..
Int. on deb. bonds
$897,092 $1,480,095
$775,421
deficit, April 30 1920, $5,802,247.
.....
x$493,392
Subway contracts, practically completed in early 1918, see V. 106, p. 2647.
DIRECTORS.—Harry S. Black (Chairman), Paul Starrett (President).
E. Mitchell. Harry Bronner, Frank A. Vanderlip, John F.
Harris.
Charles E. Herrmann. A. L. Humes, H. O. Winsor (V.-P.), R. G. Babbage is
V.-P. & Sec., and A. E. Hadlock, Treas.; Harry Bambach, Aud.
Office.
O.
Ill Broadway, N. Y.—V. 112, p. 267.
UNITED STATES RUBBER CO.—ORGANIZATION AND PROP¬
ERTY.—Organized in New Jersey in April 1892; V. 55, p. 1039; V. 56 p
639; V.Ji . P. 545. Directly or through its subsidiaries is engaged In produc
ing rubber footwear, rubber-soled shoes, waterproof clothing, druggists' rub¬
ber goods, hard rubber products insulated wire, tires, belting, packing hose
and other mechanical rubber goods, there being over 40 mills In operation
situated In Connecticut. Illinois, Massachusetts, Michigan. New Jersey
Indiana, Rhode Island. Pennsylvania. Ohio and Canada.
Through Gen
eral Rubber Co. the company owns In Sumatra one of the largest rubber
plantations In the world, the production from which Is being rapidly devel¬
oped, with over 5,000,000 rubber trees, of which a large proportion are
being tapped.
V.103. p. 1700.
See list of plants in June 1917.
V. 105.
£ kw '
Rubber
if
J?ubbeTr ™antat»°os<*>••««* V. 106.
p. 1033.
United States
Plantations, Inc., was organized in 1917 and owns all the Sumatra
rubber plantations of the U. S. Rubber Co.
All the outstanding pref. and
com.
^stock of which practically owned by U. 8. Rubber Co. V. 108
P,ants of ,tbe °Ld ^bber Goods Mfg. Co., Morgan & Wright. &c
(but not General Rubber Co.), are now owned in fee by U. 8 Rubber Co
though their corporate existence is continued, and they retain their cur¬
rent assets.
V. 105, p. 713.
In
March
1918
purchased
automobile
plant of American Locomotive Co. at Providence, R I
V
106 d 1236
On Dec. 31 1920 owned all except $277,200 of the capital stock of Canadian
Consol. Rubber Co.
V. 104, p. 364; V. 90, p. 1293.
Contracts with Wlnnsboro Mills of Mass., V. 109, p. 2178
Purchased the Dolgeville Felt Shoe Co. in Jan. 1920
V
*110
p
270
Operations were started in Sept, 1920 at the new plant in Hartford Conn
will be devoted solely to the manufacture of cord tires
V ' 111
n*
1090.
Status in April 1921, see V. 112, p. 1749.
P'
STOCK.—On Sept. 9 1919, stockholders voted (V. 109, p. 685. 686
895,1468) (1) to increase the authorized First Preferred and Common stocks
which
Q—Y~
Apr 15
A Feb
k
New York
Bank of Toronto. Mont'l
Checks mailed
1%
1H
21
1 1926
do
Boston and New York
respectively; (2) to retire the $403,600
1919; (3) to offer $36,000,000
the Common stockholders of
2d Pref., which was accordingly retired in Oct.
new Common stock (underwritten) at par to
record Sept. 13 1919.
In Jan. 1918 American International Corp.
V.
Interest.
.
,
,
had acquired an important
106, p. 93.
1905. 1906-'10. *11. 1912. *13. *14. *16. 'le-'lS '19 '20-21.
%/
None—
1 4&20etk 5M 6
3
nil
2 text
%\8 yearly (2% Q.-J. 31) to and including Apr. 30 1921
On common paid 2% quar. Oct, 1919 to Apr. 1921; also a stock dividend
of 12H% in common stock on Feb. 19 1920V. 110, p 174.
^
.
BONDS.—in Jan. 1917 the company aold $60,000,000 First & Ref. M.
5% bonds, covering property owned directly or through subsidiaries, to
provide for all maturing obligations up to Dec. 1 1918, for the funding
of current Indebtedness (about $25,000,000), and additional working capi¬
tal.
See offering, &c., V. 104, p. 254, 262, 1806; V. 105. p. 395.
First k Ref. Mtge. (V. 104, p. 254. 262; V. 105. p 712) is now limited to
$97,252,900 (the amount of full-paid pref. stocks and com. stock outstand¬
ing on Jan. 15 1917), except to tne extent of any Increase In the authorized
amount of said bonds which from time to time thereafter may be consented
to by the holders of the pref. and common stocks; and for the future It is
limited to said amount plus the par amount of any additional stock Issued
at not less than par for cash actually paid in.
Bonds, however, additional
to the initial $60,000,000, can be issued (except for refunding) only when the
total unencumbered quick assets exceed the aggregate debt of the cos. and
their total annual net Income for 3 fiscal years just preceding is twice the
total annual Interest, Including the bonds then to be Issued
Of the addi¬
tional bonds. $2,600,000 are reserved to retire the $2,600,000 Canadian
Consol. Rubber Co. bonds, due Oct. 1 1946, and $9,000,000 have been
Issued and pledged as collateral for the $6,000,000 5-year 7% Collateral
notes of 1918 and $25,000,000 have been pledged as collateral for the $20,000,000 7H% notes of 1920, below described.
Compare V. 105, p. 1528,
826, 1809; V. 107, p. 2104.
Sinking fund for First k Ref. Mtge. bonds from Jan. 1 1919, 1% annu¬
ally upon all the bonds outstanding or retired to repurchase bonds at or
below 105 and int., otherwise as part of sink, fund or following years.
D1
V.(slnce'04.
Common,
First
pref.
COLLATERAL NOTES.—$6,000,000
5-Year 7% Collateral Notes Is¬
1 1918, secured by deposit with Industrial Trust Co. of Provi¬
dence, R. I., as trustee, of $9,000,000 1st k Refunding Mtge. 5% bonds,
Series A, of United States Rubber Co., redeemable at option of company
as a whole but not in part on any int. dates on and after Dec. 1 1920 at a
sued Dec.
premium of 1 % for each six months between
maturity.
The proceeds of these notes were
redemption date and date of
used to retire an issue of $9,the remainder of
the United States
000.000 5% Debenture bonds of General Rubber Co.,
the funds needed for such retirement being supplied by
Rubber Co.
V. 107, p. 1673, 1843, 2104.
'%t
^
8ecured Gold Notes, due Aug. 1 1930,
with trustee of $25,000,000 first and ref.
mtge. 6% gold bonds, due Jan. 1 1947.
V. Ill, p. 396
REPORT.—For year ending Dec. 31 1920 in V. 112, p. 1510.
1920.
1919.
1918.
1917.
The $20,000,000 10-year 7H%
secured by deposit and pledge
are
„
Total sales
256,150,130
Net inc. avail, for divs
21,220,983
Divs. U. S. Rubber Co.:
First
225,589,465 215,398,425 176,159,694
17,730,237
16,072,042 15,340,577
5,200,000
5,041,476/
6,480,000
1
preferred
4,937,776
4,937,154
24,216
2,098,576
24,216
/
Second preferred
Common
„
<|
<jjj
£
Divs. to minority stock¬
18,718
19.567
19,510
20,693
9,522,265
10.5,0.618
11,090,540
10,358,514
holders (sub. co's)_
Balance, surplus
DIRECTORS.—Frank A. Vanderlip, C. B. Seger, J. S. Alexander,
Hotchkiss,
P. Colt, James B. Ford, James Deshler, Henry L.
Leland, Nicholas F. Brady, James C. Brady, Walter S. Ballou,
Middleton S. Burrill, Francis L. Hine, Samuel M. Nicholson, Wm. H.
Truesdaie, Raymond B. Price, Homer E. Sawyer, Ernest Hopkinson, Sir
Mortimer B. Davis, John W. Davis and J. Newton Gunn.
OFFICERS—Chairman, Samuel P. Colt; Pres., Charles B. Seger, Sec.,
Samuel Norris; Treas., W. H. Blackwell.
N. Y. office, 1790 B'way, coi.
Samuel
Lester
58th St.—(V. 112, p.
Surplus.
Profit and loss,
B'way, N Y
do
York
1930
Jan 15 21
$100,000,000 and $200,000,000,
to
1917.
1918.
$870,939
Balance, surplus
OFFICERS.—Pres.,
New
411,500
"420.065
" 420,000
" 420,006
1,920,000(16)1920,000(32)3840,000
128,562
128,562
128,562
420,000
/Com (16%)Co. pf. (7%)
Special amortization
Depreciation
U. S.
do
2%
1 1947
1 g
As collat
50
c*
1790
2% Office
1 1946
&
$4,426,265 $14,073,102
465,843
315,048
375,803
6,998,182
$5,102,832
Net, after deprec., &C-_
Res. for Federal taxes—
1924
J July. 1
<sc
100 kc
1.000
V. 112, p. 1614, showed:
1919.
«l
Guaranty Trust Co
1% Checks mailed
Office 111 Broadway;NY
1 1915
text
Apr 30 '21
Q—J
81.000.000 See
J • Apr 30 '21
65.000.000 8 in 1920
1 1947
J
&
J Jan
5g
58.426,800
J
&
D Dec 1 1923
6.000.000
Bonds of sub cos not owned Jan 1 1921—
1920.
Feb
Where Interest and
Dividends are Payable
D June 11935
k
1917
1918
$37,500,000--
REPORT.—For cal. year 1920 in
J
eg
$1,000,000
$1,000
1915
105
United States Leather Co—See Central Leather Co.
U S Realty & Improvement—Stock $30,000,000 autb
.N
Debentures $13,506,000 g oonv to July 1 1908 red 105-N.c*
United States Rubber—Common '$200.000,000 authorized).
First Pref (a & d) $100,000,000 8% non-cum (see text'.. First k Ref Mtge (see text) call 105 after 1919—„-yc»&r*
Five-year collat gold notes $6,000,000 call (text)-.xxxc*
Ten-year secured notes
...
...
..Usm.xxxc*
Underlying Bonds—
Canadian Conaol Rubber Co Col Tr call 110
c*
do
do
First and Refunding Mortgage (see text)
U S Smelting, Refining & Mining—Corn mock
Preferred (a k d) stock 7% cumulative $37,500.000
Convertible gold notes callable at 110 « lnt
Places
Last Dividend
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on page
U 8 Light & Heat
[VOL. 112.
STOCKS AND BONDS
INDUSTRIAL
238
68, 169, 267, 558, 1510, 1749, 2092.)
UNITED STATES SMELTING, REFINING & MINING CO.—OR¬
GANIZATION.—Incorporated Jan. 9 1906 In Maine and has acquired
control of extensive properties (compare V
82 p. 105) Including (a) mining
Sropertles locatedKennett, Calif..Utah and Okla, Mexico, kc., producing
at Bingham, Kansas. Eureka, Nev., Chloride and
ioidroad, Ariz.,
S Metals Refining Co., which
refinery with a capacity for
gold,
copper, lead, 2inc, silver and
(b) U.
has at Chrome. N. J., an electrolytic copper
refining 240,000,000 lbs. of copper annually and a copper
smelting charge 200,000 tons, also at East Chicago a plant
smelter, annual
with an annual
72.000.000 lbs. o! lead,
(c) Through 0. 8. Smelting
Midvaie, Utah, smelting charge 481,000 tons yearly,
and zinc smelters at Altoona, Kansas, and Cbecotah, Oklahoma, combined
(d) Copper smelter at Kennett. Calif.,
capacity. 90,000 tons of ore a year.
yearly capacity 450,000 tons,
(e) Through Utah company and subsidiaries.
coal
mines
that
produced In 1920
1,548,222 tons of coal,
(f) The
46-mile standard gauge Utah Ry. (wholly owned—see V. 108, p. 1510).
connecting the coal mines with the Denver & Rio Grande RR.
Purchase in
capacity for refining
Co., lead smelter at
1919.—(V.
109,
Subsidiaries—
CT. S. Smelting.
U.S.Metals
Ref
pi
1615.)
Stock
Leading
Co..
Public
Issued.
Property—Annual Capacity
Holds.
None
$?>
pref.1,550.000
Mines. Smelters, Ac.
138,576 urns ore
Bingham, prod.
8ee
$500,700 None
None
$500 Eureka
1.550.000
2.500.000
1,500.000
Gold Road
1.574.555
Needles M. k 8. 3.374.435
Monte y
Pa-1
470.000
__pf./2,554 sh.
*19
Report^below.
(Plants at Chrome,
N. J., etc.)
12shares
com.
Cent.-Eureka
None
Kennett
None
Gold Road
None
Mammoth
Arizona
f(Oia de Real del Monte y
Mexico \
Pachuca.V. 108, p.1510.)
Rlchm.- Eureka 3.600,000 1,777,870 Eureka (not in operation in 1920)
37.708 Bingham, Utah (being developed)
Niagara
650.005
$996,071 Coal output In 1920 1,548,222 tons.
U. S. Fuel I pref. 2.355.690
None
Co
(com. 7,000.000
chuca
Utah Ry. Co,.
3.065,200
The United States Fuel Co..
...
None
formed In 1915, under laws of Nevada (V.
Mining
100.
First and refunding 6% bonds (of
by the U. 8. Smelting. Refining A
Co.). and has also assumed the $303,000 outstanding Joint 1st
p. 1173), has outstanding $3,636,300
which $3,424,800 were owned in 1920
MAY, 1921.]
INDUSTRIAL STOCKS AND
BONDS
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on pagd*6]
Date
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
waited States Steel Corporation—c,om stock SodO.OOO.Oou..
Preferred (a A d) stock 7% cumulative 9400,000,000
Coll trust mtge/redeemable at 115 s f (see text)
Us.xc*Ar
1901
9304,000,0001 not redeemable s f (see text)
xc* Ar
"Sink fund" coll tr 2d M 9250,000,000 g red (text) Us.xo* Ar
Illinois Steel deb$30,000.000ggu red 105begApr't5Nxo*<Jcr*
Bonds of Cos. Contmiiea—(Additional to those In tert.i
Union Steel 1st & coll mtge $45,000,000 ggus f__Nxc*Ar
Last
Places
Where Inter en
an
Dividends are Payable
9100 $508302500 5 in 1920 Q—M 30 June29 *21 \\i Office EmplrBldg,
N V
do
100 360.281.100 7 in 1920 Q—F 27 May 28
e
do
21 IX
Various
1 l9ol
J P Morgan A Co, NV
f t*
do
5 g
Apr 1 1951
do
do
1,000 Ac I b224408000 1
MAN Apr 1 1963
5 g
do
do
500 Ac bl72229000 x
A
O Apr 11940
4« g A
Office Empire Bldg
18.500.000
1.000 Ac
N "V
1912
1901
1903
1910
&
5g
St Clair Furnace first mtge g gu 4100,000 yrly *
PPi.xc*
St Clair Steel first M g guar 9100.000 due yearly..UPi.xc*
1901
1,000 Ac bl9,825,000
b9,432,000
i.OUU&c
l.OOOAc b 16.981,000
1,000
1,880.000
400,000
1.000
St Clair Terminal RR first mortgage
x
Elgin Jollet A Eastern first mtge (910,000,000) gold_Ce.xo*
471,000
""'V.666
10 000,000
5 g
Chicago Lake Shore A Eastern lpt M guar red 110 1919_>x
Duluth & Iron Range first mortgage
...Mpjo&r
1909
1887
Union RR first mortgage
x
Duquesne equipment trust due $115,000 yearly (Mar.) _x
1896
1,000
1.000 Ac
1,000
1,000
9.000.000
8 151.000
2,000.000
Mifflin Equip Trust, due 9120,000 yrly Aug beg 1921.x
Munhall Equip Trust due $75,000 yrly June beg 1923.x
Monongahela Southern first mortgage guaranteed
x
Connellsvllle A Monongahela RR 1st M
x
H C Frick Co Pltts-Mon pur money M gu
due 9600,000
yearly
—_UPi.xo*
ioio
D Dec
6*
1891
Pittsburgh Bess A Lake Erie RR. Bess ALE and Duluth
Dividend
and Maturity
l.OOOAcl
1902
The Nat Tube 1st M$15.000,(kH)g gu red 105 beg 16ft. xo*Ar*
Ind St 1st M 940,000,000 £ gu red 105 bee Nov '16 —xc»Ar»
239
J.U1Z
1901
5 g
5 g
5 g
Iflssab
e
Pittsburgh Trust Co.Pitta
Office, Empire Bldg, N Y
A
D June 11969
O Oot
A
To Mch
511.000
1 1923
A
A
J
June 1 '23-*34
Oot
11955
Sept 1 1930
do
fidelity Title ATrCo. Pitta
Rome Tr Co, New Jersey
Aug 1 1921-32
A
do
do
11937
&
4
do
do
do
do
Office, Empire Bldg, N Y
Offloe, Carnegie Bla,Pitta
J July 1921-1944
Union Trust Co, Plttab
oompani es under RRs— For other bonds see text
5 g
those
oe
do
Sept 1 1946
5
5
1.000 al4 139,000
& Nort Uern Ry—S
1925
A
1.200 000
1
Colonial Tr, Pitts ANY
Union Trust Co. Plttsb
1 1932
A
1.000
1909
1911
Feb
5
5
1,200 000
900,000
New York Trust Co, N Y
Office kinplre Bldg, N
do
do
May 1 1941
N
iH
1,000
1909
To Jan 1
A
5
230 000
1912
1 1952
May 1 iy,->2
May 1 1952
Aug 1921-39
A
Of this amount $122,000 deposited In escrow.
b For additional amounts in sinking fund, see text.
a
mtge. bonds of the Consolidated Fuel Co. and Southern Utah
Cash Dividends Paid on Common Stock Since 1906.
*07. 08. 09. TO. '1 - 13. '14.
15. *16. '17. '18. 19.
The
RR.
coal
properties at merger embraced 8,016 acres of coal.
The coal mines
produced in 1920 1,548,222 tons, and are opened and partly equipped to
produce 3,000,000 tons a year when the market required it.
LATE DlVS.——
112.
On Com. stock
%j
'14.
*15.
6
3
paid 3%
quar.
13.
5
Oct. 15 1919 to Oct. 15 1920
'16.
'17.
18.
'19.
20.
'21.
8& 10
10
11
12
text
In Jan. 1921 paid 1%.
April
IX
div. omitted.
NOTES.—The company sold In 1916 (V. 102, p. 615, 1714) $12,000,000
10-year 6% Convertible Gold Notes, dated Feb. 11916 and due Feb. 1 1928.
convertible at any time, at the option of the holder, into common stock
on the basis of $75 in notes for each share (par $50) and callable as a whole
at 110 and int. on
any int. date upon 60 days' notice, but if so called may
be converted at any time prior to date of payment.
No mortgage may be
1921
made by any
subsidiary companies except
1386.)
on
the coal properties controlled
and on the Utah Ry.(v. 104. p.
REPORT.—For year 1920, in V.
(Incl. Custom Ores)—
1920.
Copper. lbs__
1,391,116
Lead, lbs.—
77,545,350
Silver, oz
18,227,889
Gold, oz
123,175
Zinc, lbs
16,852,918
Net earns., after repairs- $6,777,000
Depiec'n &reserve funds
1,865,223
Federal taxes & deposits.
2,002,503
Pref. dividends
112, p. 1737, showed:
1919.
1918.
8,919,044
20,359,378
68,648,864
96,567,485
17,758,498
15,337,465
146,749
137,315
7,680,548
18,771,684
$9,465,395
$7,249,533
1,571,579
2,474,443
1,252,602
Not shown
(71,702,225.1,702,225.,
1917.
1,702,225
29,043,242
107,519,570
13,000,187
109,612
53,590,446
$5,769,391
1,571,676
692,500
1,702,225
$1,317,290
$47,515
dividends_(i6~%)l,755!575(ll)i93l!l32(10)i755!575(10)i755;575
Common
surplus
Balance,
def.$548,526
$3,007,857
OFFICERS.—Pres., C. G. Rice; Sec. & Treas., F. W. Batchelder.
55 Congress St., Boston.—(V. 112, p. 68, 1407, 1737.)
Office.
UNITED STATES STEEL CORPORATION.—ORGAN.—Incorp.
in
N. J. on Feb. 25 1901. V. 72. p. 441. 679; V. 73, p. 349; V. 85. p. 1467.
On June 3 1915 the U. S. District Court decided favorably to the corpora¬
tion the Govt. 8ult to dissolve the corporation for alleged violation of Anti-
V.
Trust law.
100,p. 1873, 1860; v. 93,
p.
V. 103,
Y. 101, p. 1482;
769,
1597: V. 104,
p.
p.
1203. 1263.
21$3:
Appeal taken.
V; 106,
p.
93; V.107
p. 1673.
U. S. Supreme Court dismisses suit for dissolution, V. 110, p. 925.
The Govt, asked for a rehearing (V. 110, p. 1858), but this vu denied on
May 3 1920. Wage increase 1915 to 1919, about 130%. V. 106, p. 1477.
1583, V. 107, p. 516.
Federal Shipbuilding Co.. V. 105. p. 392.
Prices.
Ac., fixed by U. 8. Govt. In 1917-18, V. 105, p. 1319,1626, 2190, 2372. 2549
V. 106, P. 404.1905: V. 107. p. 1389.
Etghc hour granted. V- 107. p. 1292
Steel prices, Ac., V. 107, p. 1252, 1153; V. 108, p. 1473.
Stock for em¬
ployees, V. 112, p. 169, 941.
In June 1919 purchased Empire Building, N. Y. City, for about $5,000,000.
V.-108.jp.
PROPERTIES
1733.
OWNED.—The
properties
owned
include
124
blast
furnaces, 333 open-hearth furnaces and 38 Bessemer steel converters, 10 steel
rail, 64 bar, billet, &c., mills; 14 structural shape mills, 20 plate mills; 86
merchant mills, producing bar iron, steel, &c.; 222 hot mills, producing tin
plate, &c.; 24 rod mills; 51 welded and seamless tube mills; 18 bridge and
structural plants; 18 skelp mills; 155 sheet, jobbing ant plate mills; 16 pierc¬
ing and rolling mills; 70 wire mills; 50 galvanizing and tinning mills; 16 splice,
bar, spike, bolt, &c., mills; 5 cement plants; 15 warehouses; 41 miscellaneous
armor, axle, &c., works; 12 sulphate of iron plants; 22 iron, steel or brass
foundries; extensive iron ore mines in the Lake Superior region; owns or
leases 251,055 acres of coking coal and 94,703 acres of surface and 20,427
beehive coke ovens, Ac., in Pennsylvania and West Virginia; 2,558 by¬
product coke ovens; 32 coal plants not connected with coke plants; 154,423
acres of steam and gas coal lands, &c., railroads, lake vessels, ore docks,
natural gas lands, &c.; also Southern coal and coke property owned by
Tennessee Coal, Iron & RR., consisting of mineral and surface interests
owned, 196,678 acres; mineral interests only owned, 149,382 acres; surface
only owned, 16,265 acres; 2,974 coke ovens, &c.
In Jan. 1921 purchased the
Morrow da Mina manganese properties in Brazil.
V. 112, p. 169.
Railroad lines owned
Leading
Subsidiaries
ana
Stock of—
t heir
Total.
Share Capital, Practically All
Stock of—
Federal Steel, common.-$46,484,300
do
6%
pref_.
National Tube, common.
7%
do
pref..
Bridge Co
Amer.St. A Wire, com..
do
7% pref.-
Amer
Carnegie Steel Co
63,260,900
45.000,000
40.000.000
10.000.000
50,000.000
40,000,000
65.250,000
25.000
Amer. Tin Plate
Amer. Sheet AT. P. com-
24.500.0K)
Owned.
Total.
Am. Sheet A
T.Pl.,7%pf.$24,500,000
Illinois Steel Co
(V. 94, p. 986)
Indiana Steel Co
Universal Port. Cement-
50,000,000
3.600,000
H.O. Frick Coke Co. (Y. 93. D. 1107)
Con. I. Mines $29,887,406
Shelby Steel Tube, com.
26,000
Tenn. Coal, Iron A RR—See that co
Union Steel Co..
Steel Co
do
3.500,000
On Dec. 31 1920 par value of capital stock of sub. cos. not owned,$421,412
On Dec. 1 1902 took over the entire capital stock of tne new luhh Steel
Co., $45,000,000 of new 5% bonds being guaranteed, principal and interest
See that
company on a preceding page,
V. 75, p. 1359; V. 76, p. 107. o46
V. 78, p. 1174.
In 1904 acquired Ciairton Steel Co., guaranteeing $10,230,.
800 bonds.
In 1908 purchased Schoen Steel Wheel Co.
V. 87. p. 101. 22^,
Output of Company in 1920 and 1919, Gross Tons (see V. 112, p. 1293)
1920.
Iron ore mined
27,021,009
30,828,334
16,208,111
5,981,002
-
Coal mined
-Coke manufactured.
quarried
Pig iron, ferro and spiegel
Steel ingots (Bessemer and
Limestone
-
open
hearth)
for sale
Rolled and other finished steel products
Universal Portland cement (barrels)
14,532,646
19,277,960
14,228,502
11,960,000
1919.
25,423.093
28,893,123
15,463,649
5,835,289
13,637,504
17,200,373
11,997,935
9,112,000
Vessels completed and delivered from shipyards—•
27
27
5
D. W. tonnage
171,890
263,807
In April 1906 the Indiana Steel Co. began to build a new plant at Gary, in
Lake Co., Ind., to cost about $115,000,000. See BONDS below. V. 82, p.
175. 637. 702, 991. 1216; V. 83. p. 1123; V. 84. p. 635; V. 88. p. 731; V. 87
p. 351. 484; V. 91. p. 721; V. 92, p. 732; V. 94, p. 846. 986.
In June 1913
the Canadian Steel Corp., Ltd,, was incorporated in Canada with $20,000.
800 stock to build a plant at Ojibway, Ont., opposite Detroit,. Michigan,
eost estimated at about $20,000,000.
V. 96. p. 207, 873, 1845.
The new
Duluth (Minn.) plant was completed In Dec. 1915; see description of same,
V. 102. p. 72; V. 98, p. 924; V. 100. p. 991.
Other construction work, V,
-102, p. 981; V. 101, p. 1719; V. 112, p. 1294.
Ocean steamers
Oil barges
.
--
--
—
V. 106, p. 2234.
Red Cross donation in 1918.
5
In Dec. 1918 extra
quar¬
terly dividend redu ed fro a 3% to 2%; March 1919 paid an extra of 1%.
V
107 p. 1751; V 108, p 487.
Foreign stockholdings, V 107, p. 364.
BONDS.—The collateral trust b% oonus of 1901 were secured by all the
securities owned- $154,000,000 only (series A. C and E are subject to call
(n whole or In part at 115% since
April 1 1911, a sinking fund of $3,040 000
rearly. beginning June 1 1902, can purchase bonds, if obtainable at not
uoeedlng 115 and Interest, and slnoe April 1 1911 may be applied to the relejnptJon of series A C and E bonds to be drawn by lot.
In Dec. 1920,
179.592,000. not Included In amount out, were alive In sinking fund.
The ooll, trust sinking fund 2d mtge. 5s of 1903 (V. 74. p
584, 733,
192: V. 76, p. 545) are next In rank and similar In form to the 6s of 1901.
They are subject to call after ten years from date at 110 and Int. In whole
jr part (If the latter to be designated by lot and coupon
bonds to be releemed first)
An annual sink. fd. of $1,010,000 will provide for retire¬
ment of the bonds.
The sinking fund *was used until Apr. 1 1913 in puribaslng bonds at not over 110 and int., or invested in securities; since Apr. 1
may be drawn by lot, coupon bonds to be first redeemed.
All
1913 bonds
purchased are to remain alive and draw Interest.
No foreclosure
proceedings can be brought for default (lo payment of nrln. or Int.) oontlnilng for leas than two years.
In May 1921 $27,771,000 not Included
In table above were held alive In sinking fund.
jonds
In 1903 $150,000,000
pref; stook was exchanged. $ for $, for second mtge.
londs $20,000,000 of tne bonds being also sold at par to provide for im¬
provements and $30,000,000 exchanged In Nov 1907 for Tenn. Coal, Iron A
FIR. com. stook.
Final $50,000,000 (of the authorized Issue of $250,000,000
Id 5s of 1903) is applicable for exchange for preferred stock.
See V. 76,
334. 439, 545, 1147, 1200; V. 77. p. 717, 827, 1536. 2039; V. 78. p.
1173. 1786; V. 79. p. 1283; V. 85. p. 1212. 1282; V. 86. p. 730.
In June 1911 it was arranged to purohase through the H
C. Frick Coke
Oo. 15,943 aores of coking lands and 1,408 acres of surfaoe land, Ac., from
the Pittsburgh Coal and Monongahela Consol. Coal A Coke oompanles, pay¬
ment being made in $17,084,000 of an auth. Issue of $18,000,000 serial 5%
ponds, secured on the property and guaranteed, prtn. ana Int., by the Steel
Torporatlon.
V. 92. p. 1570; V. 93, p. 474,
1108; V 94, p. 846.
Of the Illinois Steel debenture 4)*s of 1940 ($30,000,000 auth. Issue),
a.
8*5,
U.S.Steel Corp., $6,900,000 were reserved to retire the depentures due April 1913, $5,928,000 for notes due 1912-1919 held by U. S.
Reel Corp and $1,558 000 for 75% of the cost of additions and betterments;
$18,500,000 were outstanding Dec. 1920.
Any mtge. must equally sevure them.
See Y. 93. p. 289; Y .94. p. 986. 1191; V 98. p. 1699.
Of the Indiana Steel Co. 1st 5s. guar. p. A 1. ($40,000,000 auth. Issue),
covering the Gary (Ind.) plant, $18,035,000 have been sold, the remaining
121,965,000 being Issuable on new oonstruotlon from Jan. 1912 at 75% of
:ost.
Sinking fund annually, beginning May 1918. 1% of bonds Issued to
May 1 1922 and thereafter 1)4% plusint on bonds retired.
At Dec. 31
192011,054,000 had been retired through the sinking fund,leaving $16,981,$00 outstanding. V. 98. p. 1699; V. 100. p. 2171; V. 101. p. 50.
Of The National Tube Co. 1st guar. 5s (not the old oo., but the later one,
organized to build the Lorain, Ohio, plant), the unissued $5,000,000 are
•eserved for 75% of the cost of new construction.
Ann sink fd .beglnalng May 1916, 1% of bonds Issued, plus Int. on bonds retired.
At Dec.
31 1920 $568,000 had been retired through the sinking fund, leaving $9,432,raar.p. A l.by
t
000 outstanding.—V. 94. p. 986, 1769.
Interest.
Additional Bonds of Controlled Cos.
Host. Conn. Coke (V. 85, p.
Dewees (W.) Wood Co. 1st
$100,000 yearly beginning
Schoen Steel Wheel Co.
1466) —z5 F
M., due)
&
A
1915..xJ5 M
A
N
IstM.
Outstanding.
Maturity.
$165,000 Feb.
11942
,nn
g. gu.l
,„
Carnegie St. Co. of N.J.,red.l05.x(5 g M A S
6 J
&
D
21-30
1,400,000 May
^
-
415.000 Mar.
-.noc
1 1926
Cahaba Coal Min. Co. 1st M___
Alab. Steel & Shipbldg. 1st M
213,000 Dec.
11922
6 J
&
J
730,000 Jan.
11930
5 .T
AD
& N
91,000 Dec.
2 1931
1st M
5 M
2,200,000 Nov. 11946
5 J
&
J
1.000,000 July
11945
Spirit Lake Transf. Ry. 1st M. (qu.)-5 J
&
J 1,000,000 July
1 1946
Essex Terminal Ry. IstM
5 J
&
J
206,000 July
2 1942
Tennessee Coal, Iron & RR. Co.—See separate statement for this company.
Treasury Bonds.—On Dec. 31
1920 treasury bonds subject to sale
Am. St. A WireofAla. IstM. (quar.)
Interstate Transf. Ry. IstM. (quar.)
amounted to $25,847,000.
Tonnage of Unfilled Orders (00,000 omitted).
L. Superior
Ciairton
2H
Potter Ore Co.
leased total 993.23 miles.
or
--
5
'21.
text
1
-_
5
'20.
5
2
5H
0
5
—
2
5 yrly. 4)4
Extra
2
11)411
Paid in 1921: March 30, 1)4%; June 29, 1)4%.
Regular
Oti
December
31
1912. 1913. 1914. 1915. 1916.
7,9
4.2
3.8
7.8
11.5
EARNINGS.—3 months ended Mar. 31:
1910.
1911.
2.6
5.0
1919.
1920.
1921.
Net, after taxes,
Apr 30
1917. 1918. 1919. 1920. 1921.
9.4
7,4
8.2
8,1
5,8
(V. 112, p. 1862.)
&c_l„$32,286,722 $42,089,019 $33,513,384
$56,961,424
Deduct—
POanSd^kin|TOntod?"C.$ll,630,383
Interest
Div.
on
Div.
$10,765,318 $10,638,955 $ 8,511,607
5,079,816
5,177,798
5,271,290
212,100
215,615
oA§'nfS
6,304,919
6,304,919
6,304,919
6,353,781
6,353,781
21,602,856
U%
1 ii%
1 )4% 1 )4%A3ext
4,975,734
205,000
6,304,919
6,153,781
Prem.on bonds redeemed
on common
Pref. (1 % %)
Common div. rate
1
$2,816,905 $13,373,085
Balance, surplus
REPORT.—For cal. year 1920 in
1920.
Wa"/&c.?tax!aesStimated
Net after said taxes
Int.
on
sub.
co.
bonds
$4,822,316 $15,032,502
full in V. 112, p. 1291.
1919.
1918.
37,500.000
52.000,000 274,277,835
185,095,359 152,290,639 208,281,104
8,408,461
8,701,577
8,930,424
Sinking funds, deprecia-
„
1917.
233,465,435
304,161.471
8,869,291
___
45,545,926
20,509,321
933,451
40,718,823
20,891,116
837,816
Cr. 194,219
65,000,000
Cr.629,453Cr.l,600,808
25,415,125
(5%)
25,219,677
25,415,125
(5%)
25,219,677
71,162,350
(14%)
25,219.677
86,411,425
(17%)
Balance, surplus-—-- 29,059,426
26,159,780
28,935,350
52,505,438
46,684,364
20,105,560
Prem. on bondsredeem'd
835,333
For new plants, Ac
30,000,000
Add
adjustments
Cr.632,586
tion A
Interest
Amortiz.
reserve
war
funds..
Percent
Extra
12,215,000
(7%)— 25,219,677
Common dividends
common
_-£63,848
------
facilities..
Preferred divs.
£0,553,272
21,256,303
dividend
------
.
nf>-
5,083,025
(Red Cross), 1%
340
STOCKS AND BONDS
INDUSTRIAL
on
Par
first page]
Amount
Bate
When
Last Dividend
Value
Date
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes
Outstanding
%
Payable
and
«00 Ac
J no
..... —
pf stk (p&d) 7%
cum gu s
500 Ac
None
100
100
1,000
1,000 Ac
100 &C
100
f red 110
1,000,000
770,000
197.;:
1.000
—
Consumers Chem Corp
2,000.000 10 lnl919
1,000
1,000
1,000
"
are as
.
.
Separation Co. in the U. S. District Court for the District of New Jer¬
V
•Dividends.—
'
( to-'14. 'is. '16. *17. 'is. fi9. '20. 1921.
1908^--^-——%] 30 y'ly 42^ 70
140 100 60
60
text.
.«.% I
50
x5
.-■■■.—x Paid in July 1917 for Red Cross distribution.
Paid in 1921, Mar.. 10%.
Notes.—Guarantees $3,280,000 8% notes of Copper Export Association,
Inc.
V. 112, p. 655.
Production (LbsJ)—1921.
1920.
March
7,500,000
8,894,596
3 months
—.....
22,500,000 26,799,991
Note .—Operations were suspended April 1 1921.
V. 112, p. 1350.
.....
-
.......
—
—....
""REPORT.—For calendar year 1920, in V. 112. p. 1749:
Calendar
Net
Other
Dividends
Year—
Profits.
Income, x Charges.
Paid.
Balance,
Sur.orDef.
19203,376,654 1,547,844
(60%) 9,746,940 def.4,822.442
1919
4,689,872 3,662,623
*(60) 9,746,940 def.1,494,545
1918
13,807,303 5,138,478
500,000 *(100)16,244,900 sur.2,200,881
1917-,—23,910,777 0,074,348 1,289,630
(145)23,655,105 sur.5,140,391
* Includes
45.6%
($7,403,997) capital distribution in 1920, against
48% ($7,797,562) in 1919. 22^% ($3,655,102) in 1918. and 17M% ($2,842,857) in 1917.
Profit and loss surplus Dec. 31 1920, $44,177,422.
x Charges for plant alterations, replacements, abandonments, Ac.
Report for first quarter of 1921, V. 112, p. 2199.
Pres., O. M. MacNeill; Tieas., C. Y. jfenkins.
N. Y. office, 25 Broad
St.—(V. 112, p. 1032, 1407, 1626, 1749, 1875, 2199.)
......
——
.
—
UTAH POWER & LIGHT CO.—See "Electric Ry. Section" and Utah
below.—(V, 110, p. 79, 2200, 2574; V. Ill, p. 196.)
Securities Corp.
UTAH SECURITIES CORPORATION —ORGANIZATION.—Incor
porated in Ya. in 1912. Charter perpetual. Strictly an investment co.. doinr
no operating, but controlling the Utah Power Ik Light Co. (see Y. 105, p
608; also "Elec. Ry." Sec.), owning all its outstanding 2d pref. and com
stock, except directors' shares.
A full statement was in Y. 100, p. 1929-32
and condensed data, Y. 100, p. 1828-29; Y. 107, p. 1479.
Voting Trust for Stock of Utah Securities Corporation.—Stock auth., $35,
000.000; outstanding, $30,775,100, all held In a voting trust terminatini
Oct. 1 1922; voting trustees, R. E. Breed, Charles Hayden, S. Z. Mitchell
(President of Electric Bond A Share Co., N. Y.) and J. R. Nutt; Guaranty
Trust Co., of N. Y., depositary.
Bankers Trust Co., registrar.
Note Issue, Ac.—The 10-year 6% gold notes of 1912, due Sept. 15 192}
(but red. on any int. day at 101 andTint.) are secured by pledge of all 2<J
pref. and com. stock, except directors* shares and most or the short time
debt of Utah Power A Light Co.
Authorized notes. $30,000,000.
Total tc
subscribers and in part payment for San Juan Water & Power Co. ($290,000), $27,790,000, less retired, $19,518,000: balance outstanding Sept. 1
1919, $8,272,000.
V. 101, p. 1556,1812; V. 102, p. 159.
EARNINGS.—From operation, intercompany charges eliminated, of al
properties controlled:
12 Months ending March 31—
Gross.
Net.
1920-21
—.$8,713,052
$4,103,146
........
1919-20
7,629,154
3,828,183
OFFICERS.—Pres., 8. Z. Mitchell; Treas., A. E. Smith; Sec., E. P
Summerson.
N Y office. 71 Broadway.—(V. 107. p. 1479, 2104, 2195.
-
—
UTICA GAS & ELECTRIC CO.—(V. 110, p. 1533; V. Ill,
p.
302.)
VACUUM OIL CO.—Incorporated In 1800 under laws of N. Y. State
charter extended till 1964.
Formerly a subsidiary of the Standard Oil Co
of N. J., but was segregated with others in 1911.
PROPERTIES.—Operates refineries at Olean, N. Y., and Paulsboro,
N. J., and plants at Bayonne, N. J., and Rochester, N. Y., for the manu¬
facture of high-grade lubricating oils and
related products from crude
At Paulsboro owns a tract of 675 acres fronting on the Dela¬
petroleum.
ware River, with dockage for ocean-going vessels.
Does a large export
business, operating tank and cargo steamships and marketing Its products
In foreign countries through its own branches or locally
incorporated com¬
panies,
Many of these latter also operate refineries or plants for the manu¬
facture of lubricating products.
CAPITAL STOCK is $15,000,000, in 150,000 shares of $100 each.
Formerly $25,000; Increased In 1903 to $2,500,000. 1912 to $15,000,000.
DIVIDENDS.—(1912.
Since 1911..
1
6
Extra
'13.
6
1 —
In 1919 dividends were made
'14.
6
T5.
0
2
payable
on
and Nov., instead of May 15 and Oct. 31.
extra; Nov., 3%, no extra; in May 1920,
no extra; in May 1921, 3%, no extra.
*16.
*18. '19.
*17.
6
6
2
2
.
6
4
6
2
'20. '21n
6-
See
2
text
the last business days of May
Paid in May 1919, 3% and 2
3% and 2% extra; Nov., 3%,
BONDS.—The 15-year 7% bonds are redeemable on and after April 1
1926, as a whole or in lots or not less than $5,000,000 at 104 in 1926 and
decreasing y% of 1% each year thereafter to 101
in 1931, and 101 and int.
do
do"
do"
'•
•••
quarterly
V. 112,
Darnings.
Divid'ds.
%
Surplus.
.—*9,324,396
1,200,000
8
$8,124,396
—44,911,851
1,500,000
10
3,411,851
8,112,777
1,200,000
8
6,912,777
8,386,784
1,200,000
8
7,186,784
♦After deducting 2,617,927 war taxes.
t After deducting $6,064,338 extraordinray losses.
1918—.
1919
1920—.
_
_
.
—
—
Tot. Surp
•
$40,134,940
43,546,79
50,459,56
57,646,352
VANADIUM CORP. OP AMERICA—ORGANIZATION.—Organized
STOCK.—Stock auth., $25,000,000; out Dec. 31 1920, $16,244,900 (par
$10), of which about $6,105,040 was owned by Kennecott Copper Corp.
V. 106, p. 1904.
Tax litigation, V, 108, p. 85.
Regular since
Checks mailed
Cent Union Tr Go, N Y
New York
OFFICERS.—Pres., Edward PrJzer; V.-Ps., G. P. Whaley. C. E. Bed¬
ford; Sec., W. M. Smith; Asst. Sec.'s, C. E. Arnott, J. J. Rees; Treas., Her¬
Main office and transfer office, 61 Broadway, N. Y. City.
—(V. 112, p. 380, 1407, 1626.
Ry. stock.
In Feb. 1921 a suit for alleged infringement of the so-called AgitationFroth patent and Soluble-Frothing Agent patent was brought by the Min¬
Extra..*-...-
"
,v.\ •-
Equitable Trust Co, N Y
bert Baker.
UTAH COPPER CO.—ORGANIZATION.—Incorp. in N .J. Apr. 30 1904
OWns about 851 acres of mining grounds on both sides of Bingham Canyon,
Utah, and other lands comprising mill sites, tailings disposal system, Ac.
aggregating approximately 11,204 acres; also $5,002,500 of the $9,997,281
stock (par $5) of the Nevada Consol., and all of the $7,500,000 Binghan
-r1:
„
New York
Checks mailed
EARNINGS.—Balance sheet of Dec. 31 1920, V. 112, p. 1626.
UNITED STATES WORSTED CO.—(V. 112, p. 753,1032,1735,1875.)
sey.
8in7l$2§
Year—
OFFICERS.—Chairman, Elbert H. Gary; Pres., James A. Farrell;
Yice-Presidents, D, G. Kerr and John Reis; Sec. & Treas., Richard Trimble;
Compt.. W. J. Gilbert.
Office, 71 B'way, N. Y.—(V. 112, p. 1032, 1274,
erals
1
J
2H% Go's office. Utica. N 1
Cent Union Tr Co, N
O Apr 1 1942
J Jan
Cent Union Tr Co, N
11950
New York Trust Co
J July 11930
Cent Union Tr Co,
J July 1 1957
T
1407.
p.
To April 1923.
& Garfield
"Sept "l5 1922" Guaranty"Trust Co." N
Company will set aside annually the sum of $500,000 in quarter¬
ly installments of $125,000 each to be used to purchase bonds if obtainable
follows:
12917 1^26, 1862, 1875, 1985,2092.)
A
Payable
Oct 1919
at not over par and int.
The unexpended balance, if any, of any
installment will be credited toward the next quarterly payment.
J. P. Morgan,
Samuel Mather,
James A. Farrell,
Thomas Morrison,
Elbert H. Gary (Ch'm'n)John S. Phipps,
George F. Raker,
William J. Filbert.
James H. Reed.
Richard V. Lindabury,
Percival Roberts Jr.,
Thomas Murray,
A
are
thereafter.
Note.—The net earnings are In all cases reported by the company after
deducting "all expenses incident to operations, comprising those for ordtn
ary repairs and maintenance of plants."
To April 1922.
A
J
5
|,
vl
:
DIRECTORS.—The directors
Quar
J
A
390,000
J
A
4,610.000
MA
S Mar 11925
2,000,000
15.000,000
MAN 31 May 31 '21 3%
A
&
O April 1 1936
20,000,000
7g
Jan 15 1921
373,334 shr .See text Q-J 15
$1
See text
$27,984,400 6 in 1920 See text
8 is 1920
21,568,573
Quar
Apr 15 1921 2%
J
A
5 «
D Dec
11923
11,400,000
A AO 15 May 151924
6 ft
2,617,000
MAN Nov. 1 1932
12,250,000
A
A
O Apr 11933
7
400,000
'
To April 1921.
Robert Winsor,
MA "815
8.272,000
100
Dividends
Mar 31 '21 10% Checks mailed
texs.
Q—M
" Electric Ra llway Sec tion"
30.775.100
MOO Ac
—
'
Places Where Interest and
and Maturity
$10 $16,244,900 See
Utah Copper Co—Stock authorized $25,000,000
below
Utah Power St. Light Co—See Utah Securities Corporation
Utah Securities Corp—Stock auth $35,000,000 (v t ctfs)—
1912
Ten-yr gold notes red 101 see text—
—G
Securities of controlled operating cos—See text.
Utica Gas & Electric Co—Common stock.
Equitable Gas A Electric Co oi Utica first mortgage. Ce.xo* 1902
1900
Utloa Electric Light A Power 1st M s f 1% yearly..Eq.xo*
Herkimer Light A Power first mortgage gold red 110-N.xc*
1900
1907
U G A El Ref A Ext M $5,000,000 gold
x
do
Gen
mtge conv.
Ce.xxxc* 1920
Vacuum Oil Co—Stock, $15,000,000
15-year gold bonds red (text)........—Eq.kc* 1921
Vanadium Corp of Amer—Stock auth 500,000 shares—
Virginia-Carolina Chemical—Stk com $38,000,000 auth..Col
Preferred (a A d) 8% cum $30,000,000 auth..
Col
1908
1st M (A coll tr) $15,000,000 auth sub to call text-Ce.xxcAr*
1914
Sink fd debentures $10,000,000 g conv red text-Eq.yc»Ar*
1920
do
red.
text..
Gxxxc*
[VOL.112.
under laws of Delaware Sept. 6 1919 to carry on the business
and trading corporation in all its branches in any part of the
of a mining
world.
Ac¬
quired from the American Vanadium Co., a New Jersey corporation, all of
tnelatter's ore lands and other physical properties situated at MinaRagra,
Peru, its reduction and smelting plant ana other physical properties situated
at Bridgeville, Allegheny County, Pa., together with all its raw materials,
supplies and finished products on hand and in transit and the right to all
the Vanadium contained in certain leased property of said company in
Oklahoma.
Also acquired the properties of the Primos Chemical Co..
Primos Exploration Co. and The Primos Mining & Milling Co.
Vanadium is used in all steel required for nigh speed tools and fine
cutlery.
It is also extensively used in the manufacture of automobiles and
armor and as an alloy in all steel requiring a high tensile strength.
Recent acquisitions, V. 110, p. 174.
Railroad in Peru, V. 110, p. 1438,
2298.
'
CAPITAL STOCK.—Authorized 500,000 shares (increased from 300,000
shares in Jan. 1920), outstanding 373,334 shares, no par value.
280,000
shares of stock were sold for cash to provide funds for the purchase of the
properties described above and to provide working capital.
In Jan. 1920
offered 93.334 shares to stockholders at $45 pot share.
V. 110. p. 174.
Initial dlv. of $1 50 paid April 15 1920; same amount paid July 15 and
Oct, 15 1920.
On Jan. 15 1921 paid $1; April 1921 div. was omitted.
112. p. 1290.
BONDS.—The company
V.
has
no
bonded debt.
REPORT.—For
15^ months from Sept. 10 1919 to Dec. 31 1920, in
1642, showed; Net earnings, $4,005,541; other income, $71,029;
deprec., $305,287; Fed. taxes, $794,662; contingencies, $335,633; org. exp.,
$67,058; divs., $2,053,337; surplus, $520,592.
V. 112, p.
OFFICERS.—Pres., J. Leonard Repolgle; V.-P.,
Treas., L. K. Diffenderfer; Sec., E. F. Nickerson.
Merrill
G.
Baker;
DIRECTORS.—J. Leonard Repolgle, Chas. M. Schwab, Jos. De
Wyckoff, E. R. Tinker, T. M. Schumacher, Harry Payne Whitney, T.
Coleman Du Pont, Chas M. MacNeil, Edw. F. Nickerson, Chas. M. Wal¬
ton, M. G. Baker, L. K. Diffenderfere, New York; Ledyard Cogswell,
Albany, N. Y.; F. K. Sheesley. Johnstown, Pa.; E. E. Fernandini, Lima,
Peru.
Main office, 120 Broadway, New York.—(V. 112, p.
VAN
1290, 1642.)
RAALTE CO., INC.—(V. 112, p. 1032.)
VIRGINIA-CAROLINA CHEMICAL CO.—ORGANIZATION .—Incor¬
porated on Sept. 12 1895 and acquired many successful manufactories of
•olds, chemicals and commercial fertilizers from Baltimore to Atlanta and
Savannah, several In Alabama and one each in Louisiana and Tennessee.
V. 68. p. 431; V. 69. p. 232, 964; adv. In "Chronicle" Mar. 4 1899; V. 72.
p. 4*f. 1180,1191,1285; V. 73, p. 137, 240; V. 74. p. 942.1095; V. 75. p.
41,140,496; V. 87.p. 283; V. 97jp. 663.
Govt, license. V. 106, p. 880
Owns entire common stock of Consumers Chemical Corporation, which
a as erected a modern fertilizing plant at Carteret, N. J., on Staten Island
Sound.and guarantees by endorsement the 7% dividends on the pref. stock
($400,000 May 31 1921) and the cancellation of $12,500 thereof annually
callable at 110 and div.) and the remainder on April 1 1933 or the entire
•mount at 110 on dissolution.
V. 96, p. 1428; V. 97, p. 663
STOCK.—See V. 93, p. 233,294;
The stockholders on May 12 1914
V. 77. p.
355.405; V. 78. p. 1503,1970.
authorized
an
increase in the pref. stock
S30.000.000. to provide for conversion of debentures.
to
DIVS.—( '04-'08. '09.
Oom—(%)
Pref
—
None
V. 08, p. 1248.
'10. '11. '12. *13.*14. '15. '16 *17.
3
2H
4
3
IH
0t
0
0^ 3
(%){Full to July '14.incMQ.-J.): NoV.'14,2%. 4A4
sc.
'18.-'21.
See text
8 yrly
stock; Aug 1.
Oct. an extra of 2% in 4H% U. S. Liberty Loan
bonds; Nov. 1 1918 to Feb. 1 1921, incl., paid 1% quarterly, and in Oct.
1918, 1919 and 1920 paid 2% extra in cash.
May 1921 div. was omitted.
In
Feb.
and again May 11918 paid H of 1% on common
1918 paid 1% and In
BONDS.—The 1st M. 5s were limited to $15,000,000. of which $3,~
600,000 have been paid and canceled.
They are subject to call as a whole
»t 105 and $300,000 yearly for the sinking fund at 102 H.
They are secured
by (1) a first lien on all real estate and plants owned in fee and (2) a pledge
of all the shares of the Southern Cotton Oil Co. ($10,000,000). all the shares
of the Charleston (S. 0.) Mining & Mfg. Co. ($2,219,200), a controlling In¬
terest in the Elnlgkeit (potash) Co. and the Chemical Works Schonebeck
Ltd. (costing more than $3,000,000), and all other stocks owned at time of
making mtge.
V. 87, p. 1361. 1092; V. 94. p. 771,922..
r a #g ^
Of the $10,000,000 10-year 6% debentures auth. May 121914, $5,000,000
were underwritten and offered to stockholders at par.
The $5,000,000
were issued callable at 102 on Oct.
15 1916 or thereafter up to Oct. 15
^
1922 and thereafter at par
for the sinking fund, and convertible to Oct. 15
debs, for $100 stock.
The remain¬
1922 Into pref. stock at the rate of $110
ing debentures may be made convertible at the same or a higher rate; 2 H
will be retired annually.
V. 98, p. 1172, 1321, 1541; VT99, p. 54,
•y
X04 p
368
The V% debentures
%
204;
of 1920 are redeemable, allorpart, at 105 and int.
% for each succeeding
The company will set aside as a semi-annual
sinking fund $250,000 beginning Mar. 1 1921 to Sept. 11924, and $300,000
semi-annually beginning Mar. 1 1925 to be applied to the purchase or
redemption of debentures at not exceeding redemption price.
V. Ill,
on or
before Nov. 1 1927, the premium decreasing M
6 months until
p.
2237.
maturity.
■
May, 1921.]
Date
Par
Amount
Rate
When
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, Ac., see notes on first pageJ
Value
Outstanding
%
Payable
...
1899
-
Common
stock
Til ass
A
100
100
100
7,000.000 See
5.000.000 See
100
ion
A d) 6% cumulative $5.000,000
xxx.c*
1919
...
....
7% cum red 115 $2,000,000 auth..
are
Payable
Checks mailed
Bk of Manhattan Co. N>
New York and London
N Y, A B Leach A Co
25c
——frr
See text
Checks mailed
Mar 1 1920 2X
do
v" ~D June 1921
do
3%
A Aug 1 1924
NY NatOBk;Bos,lstNat
text Jan 31 '21
20% PtC^hurgh, Pa
7
text
r**" "7.7. r
Checks mailed
See text
text
F
6 g
3.000.000
1.000
Jan 1 1921
A
text See
100.000 See
10
'
text See text
text See
None
173,477 shs See
June 11921
7
100
732,500
Q—M
^aihlncton Oil Co—Stock,...—
....
Weber & Heilbroner—Common stock 250,000 shares auth
Preferred (a A d) stock
Text
300,000 sh.
2.000.000
1,225,800
text
919,400 See
text
t ,500,000 See
100
Five-year gold notes call 102
Dividends
MAS Mar 1 1924
7 g
1.300.000
Watch—Common stock $7,000 000 authorized
Preferred (a
Places Where Interest and
Maturity
See
text
$100 $10,000,000 See text Various
MAS Mch 1 1949
t
5 g
3,539.000
5.000.000
1,200,000
J
A
D Dec 1 1942
4.434.000
1,000
None
A
and
1,000
100
100
1919
.
,
Pref. stock (a. & d.) 7% cumulative Class
Preferred *tock (a A d) 7 % cumulative
Waltham
1912
Last Dividend
V'-
,
Virginia Iron, Coal & Coke—Stock$10,000,000authorized..
Mortgage gold $10.000.000
„.„--Ba.*c»
Virginian Power Co—Common stock $5,000,000 auth—
Preferred $5,000,000 authorized
First A Coll Tr M call 105 A int. $15,000.000—-N.xc»Ar*
5-year gold notes $1,500,000 auth
xxx
(V) Vlvaudou—Stock 300,<300 shares...
Vulcan Detinnlng Co—Common stock
Ml
STOCKS AND BONDS
INDUSTRIAL
Checks
mailed
IX
"
r,
'
•
•
1
'•
•'
.
REPORT for year ending May
311920 in V. Ill, p. 585:
1919-20.
1918-19.
1917-18.
1916-17.
$16,259,322 $16,213,592 $16,832,942
$8,502,416
Net profits
$9,251,746
$8,933,335 $10,193,268
$5,905,250
Interest on bonds, Ac
$1,899,700
$2,268,079
$1,808,599 i$l,248,863
Pref. stock div. (8%)
1,682,043
1,604.165
1,600,976 11,600,944
Common divs
(6%)1,679,064 (6)1,679,064
(3)839,532(1^)419,766
H
Total net profits
-
—.
Balance, surplus—
$3,990,939
$3,382,027
$2,635,677
$5,944,161
G. Wilson (Pres.), E. B. Addison (1st V.-Pres.),
(V.-Pres. & Sec.), S. T. Morgan, Jr. of Richmond, Va.;
N. 8. Meldrum, Henry Walters, Harry Broner, Bertram Cutler, Alvin W.
Krech, O. I. Stralem, New York; S. H. Miller. New York; E. E. Coles,
Treas., Richmond, Va.—(V. 112, p,68, 1032. 1309, 2032.)
DIREOTOR8.—G.
8.
D. Crenshaw
VIRGINIA IRON, COAL & COKE CO.—ORGANIZATION.—Owns
furnaces at Roanoke, Pulaski, Radford, Max Meadows and Foster Falls,
Middlesborough, Ky.; certain foundry and machine works.
Also
about 120,000 acres of coal lands, and owns and controls about
209,000 acres iron ore and timber lands.
V. 68. p. 675: V. 69, p. 388: V.
76, p. 272; V. 79, p. 1703; V. 81, p. 1615.
The Colony Coal & Coke Corp.
was organized in 1920 with capital stock of 100,000 shares of no par value
(all in parent company's treasury) for the purpose of developing the com¬
pany's coal lands in Kentucky.
V. 112, p. 1168.
Stock authorized and outstanding, $10,000,000; par $100.
On Oct. 1
Va.;
owns
1907 paid a 5% stock div.
An initial cash dividend of 6% was paid Dec. 6
1918; July 1919 and Jan. and July 1920 paid 3%.
On Nov. 1 1920 paid
10% in stock.
,.
(2) That the Republic Company be dissolved and that the Vulcan Com¬
shall acquire all of its assets, property and b isiness, and pay therefor
follows: (a) Such new 7% Cum. Pref. stock "A," $ 19,4 0; (5) such new
Common stock "A," $1,225,000; (c) $9,193 in cash upon transfer of the
assets; (d) $39,073 payable in cash when the proposed payment of 4X%
hereinafter referred to shall be made; and (e) -294,192 payable in cash in
Installments without interest from time to timfi w ten and as the balance of
such dividend arrearages shall be paid.
Each of such installment payments
are to be substantially in the proportion of the dividend arrearage payment
pany
as
then made
as
38 bears to 62.
dividend of $4.25 per share (4}£%)
old Preferred stock on account of the
amounted to 36)4%.
(4) That for ten years the Continental Ca
Co., Inc., will sell the tin
scrap produced by it to the Vulcan Company as provided in contract.
(5) That such suit shall be discontinued as against all the defendants
with the exception of foe estate of Adolpti Kern, as against which the
claims of the company are to be fully reserved.
The tangible property of the Republic Company Is approximately of the
same value as the similar property of the Vulcan Company.
The busines.
of the Republic Company, as represented by its supplies of tin plate scraps
Is approximately 30% greater than that of the Vulcan Co.—V. 110, p. 270,
(3) That upon such acquisition a
shall be declared and paid upon the
dividend arrearages, which then
1913-21.
DIVS.—)'02. *03. '04. '05. '06. '07. '08. '09. '10. *11. *12.
6X
0
57H51K56K5H7
3
0
00
00
00
0
-
Pref_-_%[3H
Below
0om-..%J2
In 1913. Jan. and
Accumulated pref.
April, IX %: July and Oct., none.
Jan. 24 1921 paid 3%.
REPORT.—For 1920, in full in
V. 112, p. 1168, showed:
1920.
1919.
1918.
u—$16,346,588 $10,271,985 $13,038,072
I— 2,920,062
1,490,018
1,835,593
155,572
193,776
207,801
579,677
150,000
607,600
■
44,760
70,912
„
,
572,184
544,416
544,416
926,400
Calendar Years—
Gross earnings
Total receipts
Bond interest
Federal
—
taxes
Rentals, expenses, Ac——
Dividends (6%)
Stock dividend (10%)
-----
Balance,- surplus...
$641,469
$530,913
$475,775
mos. ended Mar. 31 1921: gross; $633,738, against $727,531 inl920;
int., taxes, &c., $471,357, against $564,964 in 1920.
Pres., John B. Newton; V.-P., D. D. Hull, Jr.; Sec. & Treas., J. W.
Cure.
Office, Roanoke, Va.—(V. 112, p. 478, 1139, 1168, 1875.)
.
and Oct. 1919 and Jan. 1920
Ill, p. 209.
Paid IX% on Oct. 20 1920.
On Feb. 21 1921 paid IX%
on pref. and pref.
A", payment being made in 1-year 6% scrip, due
V. 112, p. 478.
Accumulated divs. in Feb. 1921 amounted
to 31%.
April 1921 divs. deferred.
V. 112, p. 1407.
Jan. 20 1922.
For 3
large power sites on New River, located at Bluestone, Richmond Falls and
Hawks Nest, W. Va., and several other smaller water power sites also along
the New River.
Capital Stock.—Auth., $10,000,000 (in $100 shares),
outstanding $1,200,000 pref. and $5,000,000 common.
EARNINGS.C lendar
Sales
Balance
under restrictions. $10,326,000
_
NOTES.—As of Mar. 1
1939
an
issue of $1,500,000 of 7% 5-year gold
have been
WALTHAM WATCH
in Mav
1906
(V.)
about
37,716
.
VIVAUDOU,
Inc.—ORGANIZATION.—Incorp. in Delaware
Sept. 1 1919 and acquired the assets, trade-marks, Ac., of V. Vlva-
dou of N. Y. and PaCs.
powder,
and
Manufactures
tooth paste and
other
«oilet
Operates four plants in
City and one in Montreal.
In 1920 was planning to consolidate
the four New York plants.
Compare V. 112, p. 70.
In V. 112, p. 70, showed1
Gross sales, $5,487,425; gross profit, $2,031,860; net
profit, $879,060;
dividends paid, $450,000; provision for Federal taxes,
1920, $182,646;
balance surplus, $246,414.
1920,
Aug, 31
DIVIDENDS.—Initial div. of 50 cent
,
a share
was
paid Jan. 2 1920
amount paid April 1 and Oct. 11920; Jan. L 1921 paid 25 cents a share.
April 1921 div. omitted.
Pres., V. ViVaudou; Treas., S. M. Schatzkin;
Sec., Alexander Levene.—(V. 112, p. 70, 941, 2199.)
same
VULCAN DETINNINQ CO—ORGANIZATION.—Incorporated In New
Jersey on April 25 1902 as a consolidation: V
74. p 942.
Has plant at
Streator, 111., and Sewaren, N
J.; manufactures "merchantable pig tin"
tetrachloride of tin and steel scr^p (ured by steel mills) from tin plate waste.
V. 83. p. 42, 1234.
On Oet 2! 191* the American Can Co. paid $617,000
In settlement of suit.
V
9A
p.
V
96
p
1302". V. 97, p. 181, 1120.
PLAN OF SETTLEMENT.—The stockholders in Feb.
1920 ratified a
plan of settlement embodied in an agreement dated Jan. 19 1920, between:
(1) a majority of the directors of the company as stockholders therein; (2)
certain stockholders In the Republic Chemical Co.; and (3) the Continental
Can Co., Inc.
The following are the main features of such fin:
(1) Tnat the capital stock of the company be increased from $3,500,000
to $5,646,000. by creating (a) a new class of 7% Cumulative Pref. stock "A"
$920,000, and (6) a new class of Common stock "A" $1,226,000.
There
is no difference between the rights of the holders
of the old and new
Preferred stocks or between the rights of the hoi ears of the old and new
Common
stocks, e cept that for ten years from the date of such in¬
crease the h Iders of the present stock will be entitled to vote for and elect
six and no more members
f the board of directors, and the loiders of the
new stock will have the right to vote for and elect three and no more mem¬
bers of su h board.
By vote of two-thirds in interest of each class of stock
all of the classes r ay, however, be given full and equal voting rig >te before
the expiration of such ten-year period.
.
1407.)
o"r
successor.
plan of ^-capitalization In
_r»rpf
stock
cnnot
he
increased
or
p.
1619.
mtve.
92
^
p.
'07. '08. *09. *10.
3
2X
3
IX
nomnion
1906 to 1914.
f
(Full 6% p. a. (3% »-a.)
I
On accum
NOTES.—In Aug. 1919 sold
Statement to
authorized without
three-quarters of each class.
V. 84, p. 698; V.
posed Issue of employees' special stock, V. 112, p. 1749.
tonsent of
90, p. 241.
Pro¬
T5-T9. 1920.
0
2X
1915. 1916
1917.
1918-20.
5
5
6
6
.11
———
'11-12
None
'13-14
1
$3,000,000 5-year 6% notes.
outstanding the company cannot mortgage
While these
its property.
V. 109,
586.
p.
REPORT.—Statement for fiscal year
ended March 31 1920 in V.
Ill, p.
70
p.
New York
REPORT.—For year ended
185.785
Ill, p. 1480.)
CO.—ORGANIZATION.—Incorporated In Massa-
V. 76. p. 161; V. 82. p. 1042; V. 84, p. 630: V. 98.
the Boston 8tock Exchange in V. 108. p. 2526.
distributes perfumes, talcum
articles.
as
DIVIDENDS.—
Balance.
189.054
197,643
1042
of
American
Waltham
Watch
Go
Manufactures "Waltham"
watches at Waltham. Mass.; also clocks, speedometers and chronometers.
notes are
$307,200
262.340
230,938
1.120,575
Eldridge: Sec., O. E.
Office, Sewaren, N. J.— (V. Ill, p.
80, 200, 1378, 1480; V. 112, p. 169, 478, 856,
DIRECTORS.—P. G. Gossler, H. G. Scott, F. B. Lasher, John L.
Dickinson, Villlam O. Abney, T. F. Wickiam and W. E. Flucher; P. G.
Gossler, Pres.; H. G. Scott and T. If. Wickiam, V.-P, ; J. J. Thames, Jr.,
Sec. & Treas.
N. Y. Office 62 Cedar St.—(V. 109. p. 1280.)
1917
$448,468
313,601
211.111
$1,304,629
OFFICERS.—Pres., W. J. Buttfield; V.-P., Geo. F.
Outram; Treas., Gilbert N. Knight.
Preferred
$952,720
804,716
577.761
...
Surplus available for dividends..
(Balance sheet as at July 1 1920 was published in V.
$141,268
gur.51,262
def.16.111
1919
1918
$1,567,781
1,332,305
244,426
261,781
143,284
$1,437,969
1.315.987
.121,982
149,157
149.157
c
1917.
1918.
1919.
_
-jTvrrr
notes, due Mar. 1 1924, was authorized, of which $1,300,000
issued.
REPORT.—For calender yjars:
Cal. Year—
Gross.
Net.
Oth. Inc.
Interest.
1919:
Income
►inoptts
authorized issue of First Mortgage bonds—$15,000,000"
outstanding as of Dec. 31 1919, $4,434,000; in treasury, $133,000; in sink¬
ing fund, $107,000; reserved for extensions, betterments, acquisitions, Ac
•Report for
Yea
...
Expenses, depreciation.
Total
one-half pref.
Bonds.—Total
V. 108,
of accumulations.
paid IX% and 1% on accumulations.
In April 1920 paid \ %% and 4X% on account
each
net after
VIRGINIAN POWER CO.—{See Map p. 238 ).—ORGANIZATION.—
Organized Sept. 25 1912 in Massachusetts and has constructed a modern
steam-power station at Cabin Creek Junction, W. Va., and a comprehensive
distributing system on steel towers and poles supplying electric power in the
Kanawha-New River Coal Districts of that State.
Owns or controls three
886.
p.
V. 110, p. 1438In July 1920 paid IX % and 1% on account of accumula¬
tions.
Paid 1 X % in Oct. 1920.
An initial div. of 39 cents per share on the
Pref. "A" stock, covering a 20-day period, was paid on July 20 1920V.
Pres., Ezra C. Fitch; Treas., Harry
380, 1749.)
WASHINGTON GAS LIGHT
L. Brown, Waltham,
Mass.—(V. 112,
CO.—(V. 112, p. 478.)
WASHINGTON OIL CO.—ORGANIZATION, Ac.—Incorp. in 1887 in
Penna.
Produces crude oil.
Owns 140 of 200 shares of Taylors town Nat¬
grated in
Oil Co. of N. J., but segreJ., V. 85, p. 216; V, 93, p. 1390.
Formerly controlled by Standard
ural Gas Co.
19i 1.
See Standard Oil Co. of N.
$100,000; par, $10.
Dividends in 1906, about 35%; 1911, 29%
1913, Feb. and Dec., 40%; 1914, Dec., 30%; 1915 ,nil; 1916,
1917 and 1918, Dec., 40% each; 1^20, Jan
20%; 1921, Jan., 20%.# Office,
323 Fourth Ave., Pittsburgh, Pa.—(V. 100, p. 817; V. 102, p. 891, V. 103,
Stock,
Oct.^40%;
p.
1046; V. 104,
p.
1505; V. 106. p. 606, 1143.)
WASHINGTON
WATER
POWER CO.,
SPOKANE.—See "Electric
Railway Section."
WAYLAND OIL & GAS CO.—(V. 112, p.
WEBER
&
478.)
HEILBRONER.—Organized in N. Y. March 19.1913.
and hats at retail, operating a chain of
Sells men's furnishings, clothing
stores.
CAPITAL STOCK.—A cumulative "Preferred Stock Sinking Fund"
provides that the corp. shall create and maintain a fund for the purchase or
redemption of pref. stock of a sum equal to 3% of the largest amount
issued and outstanding (2X% prior to June 1 1920) . said fund to be con¬
tinued so long as the amount contained therein is less than 115% of the
aggregate par value of pref. stock plus accrued divs.
Pref. stock has no
voting power unless three successive quarterly divs. remain unpaid, in
which case it has the right to elect two-thirds of the directors.
gg
DIVS.—On
1920, 50 cents;
stock as follows:
Nov. 1 1920, 50 cents.
common
REPORT.—For 6 mos. ended Aug.
net
profit, $810,865;
Nov. 1 1919, 50 cents;
31 1920::
est. Fed. taxes (1919), $309,558;
balance, $501,307.
V. P. A Treas.. Louis M. Weiller;
John C. Mayer.
Office, 241 Broadway
OFFICERS.—Pres., Louis Heilbroner;
Sec., Herbert H. Maass; sst. Sec.,
N. Y.—V. Ill, p. 1958.
Apr. 1
Gross profit, $1,897,816;
243
INDUSTRIAL
BftNDS
STOCKS AND
[VOL. 112.
Mt Clare
Cairo.
iwhaSta.
Alfred
HARRISVILLE
0
'Reedsvilh
Auburn
Macfarl
POMEROY
WESTON
ELIZABETH.
Skull Ruj
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(((
Ravensw ood
GLENV1LLE
GRANTSVILLE
Spilman
■Burns ville
;ALL,povl^po,NT pleasant
O'ottageviile
Braxton
Hend^^a^^^sAmbroelo
Ripley
Geneva
o
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Loneoak
ttle Otter
Ben Lomond
I
%
Looney ville
Remoal
Crown
SUTTON
Stinson
Grimms Inndlng
City
Amma
Buffalo
Glenwood
Jumbo
Mattie
Hugo
wuariELD
Lewtge
Erbacon
Brilliant.
f
l0HT*NGTON
wSden\
Hurricane
\nSnitro
Camden-on-Gauley
HARLESTO
Burdett
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'ATER POWER S/Ti
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.Branchland
GAOV-EY BRIDGE
CABIN CREEK JC.
ko
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ANSTED
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LOOKollT
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Wilsondale
hVurmond
II^Khayer
Pecks
Dingess
o
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Cora
Blue Sulphur Sprs*
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Ethel
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Spririgdale
MacDONALD
Bald Knob"
0
A^-vyiSBURQ0
[eadow Creek.
Holden
efcC*L EY//
Marshes
Caldwell
/RICHMOND FALCS/X.
Poplar
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mceverte
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0
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Beech Ci-eek
PROPOSE.DPOWER^TA TION
Delori
SWar Eagle
S/
JXDotson
Giatto
Peterstowi
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Elkhorn
IradshawKCoalwoodo
\N
PRINCE-
SJenlynstone Jc-
Q.aryj|
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Elbert,
Freeman
igleride/ &
^PeansbuigXS^X.
'
Yukon*
Goodwins Ferry
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liueiield
GRUNDYV®
Marvin
Springs0
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WELCH
Pawpaw o #<
Blackey
Crimson
Wenonah
Herndoir
^-Phlegar
Whitewood"
CHRISTIAN SBU
RA D
PROPERTIES OWNED AND FIELD OF OPERATIONS
PULASKI
FORD.
Dora
OF
THE VIRGINIAN POWER CO.
CHARLESTON,
WEST VIRGINIA
Rustin
AREA SERVED STEAM PLANT:-1500 SQ. MILES
LEGEND
Present Transmission System
■■■Mm
Future Transmission System
■■■■■■
Steam Power Station
*„
«■■■■■■■
Pi
Proposed Power Stations...
Q
Water Power Sites
MT
SO Miles
r
1
COMPANIES
MISCELLANEOUS
[For abbreviations,
Date
BOrtO*
6}
&c., see nofes on page
105 —-MC.xc*
J
28,600.000
7 g
A
100
672.900
500 Ac
y 1,000
1,000
100 Ac
4,314,000
239.000
990,000
1.564.000
100
1911
1903
1918
1917
100
1,000
18 88
1.000
1900
Ac
1.000
500
(EXPRESS).—Incorp. in Colorado Feb. 5
84,751 miles of railroad in the U. S,
inland and ocean steamer routes; total.
118,218 miles. Also, jointly with National Rys. of Mexico, controls Wells,
Fargo A Co. S. A. (Sociedad Mexicana).
v. 91, p. 1451.
CO.
the railroads
witn
because of Government
control and operation, and inability to effect an arrangement with the Rail
road Administration for continuing their individual operations culminated
in
enforced retirement from domestic express operations
an
of the property of
used in the express
and the transfer
this company and the other leading express companies
business to the American Railway Express Co. on June
30 1918 at least for the duration of the war.
In consideration for the prop¬
erties the several companies received stock in the Am. Ry. Exp. Co. (the
Wells Fargo, $10,500,000 thereof) but no guaranty of net return.
In Dec.
1920 the I.-S. C. Commission approved the permanent
several
consolidation of the
V. 111, p. 2532;
companies into the American Railway Express Co.
V. 108, p. 2020, 2124.
See American Railway
dends or $3 50 per share paid in April 1921.
Express Co. above
1920.
Government control terminated March 1
for divi¬
V. 109, p. 2405.
DIVS.—
/ *95-'01. '02. '03-'05. *06. '07-'13. '14. *15-'17. '18.
%-_\ 6 vrly.
9
8 yrly.
9
lOyly. 8
6yrly. 3
Cash,
«
'19-'20. '21.
0
Text
For extra dividends, see below.
suspended in 1918, following the July distribution.
V.
107, p. 1292; V. 108, p. 85, 2020.
Payments were resumed on June 20
1§21 with a distribution of 234% as a result of dividends received from
American Railway Express Co.
V. 112, p. 1875.
In Jan. 1917 an extra 33 1-3% was paid out, of surplus.
V. 104, p. 78.
Dividends
7
<v
A
O
1922
31
York
Chicago and New York
April 1 1925
NY,
Bos
Chic
ot
Aug 15'20
34% Checks mailed
do
Apr 15 1921 1 X
IX
Philadelphia
San Francisco
J July 1 1933
Union Tr Co, San Fran
A Aug 1 1923
A Feb 1927
Guaranty Trust Co, N Y
Q—J15
Q—J
Jan 151921.
D June 1 1941
A
J
A
F
A
F
99.786,727 7 in 1920
5
8,637.000
434 g
20.000.000
5 g
1,857,000
1.500.000
434
Dee
Apr" 15 1921" 134
Q-J 15
J
«•
VS
.1
A
Apr 15 '21,
Q—J
IX Office,
195 B'way. N Y
1 1938
do
do
MAN May 1 1950
MAN May 1 1941
J
A
J Jan 1 1934
do
do
do
do
do
do
J
J Jan
A
1.781.875
On June 30 1917 operated on
contracts
text
Text
7
3.503.000
2,12 >,000
100
and Mexico, 33,466 miles of stage,
of their
234 Office 51 Broadway, N Y
new
new
5 g
None 146,616shrs
100
7.079.882 See
stock
call 105 ak fd_xxc*
callable.....
Five year collat notes $1,500,000 call (text)
xxxUSc*
Unsecured 6% notes $5,000,000 g call see tert_Gxxc*(k»
Western Telep 5c Teles—Nee Amer Tel A Tel uo.
Western Union telegraph Co—Stock $100,000,000 auth....
Collateral
trust bonds
Ba.iC
Funding and real estate mtge $20,000,000 gold. -F.zcAr
Mutual Union Telegraph Co 1st M ext gu p & 1 ext 1911.a
Northwestern Tpieerranh Co 1st mtere gu o A 1 ext 1904.x
Stock of subsidiaries not owned Dec. 31 1920 (see text)
loss
7
See text
15 000.000
100 Ac
1920
c*
stock—
First A Ref M (of Oal) $10,000,000 gold
Tne
Dividends are Payable
Mar 31 *21 $2-50 New
Q-M
$10
00<i
1
1909
American River Electric 1st M (closed)
&
Places Where Interest and
i
Pref stock7% cum red 115 & divs.West States G & E of Calif preferred
FARGO
Payable
text Seer text June20'21
$100 $23,967,400 See
Western States Gas & El (of Dela)—Com stock
WELLS
%
100
5-year Convert, g bonds call, text—
Last Dividend
and Maturity
When
Rate
None 350.0008hrs
4
Western Power Corp, N Y—140.700 aura common
Pref stock $7.080.000 6 % cum aft Jan 11915
Bonds—See Great Western Power Co statement.
1866.
Amount
Outstanding
Par
Value
Wells. Far go & Co—Stock
West Penn Power Co.—8ee "Electric Railway Section"
Western Elec Co Inc (Wfg)—Com stk 500.000 aha no par..
Pref. 7% cum. auth $50,000,003—
First mtge 815.000 000 g call oeg 1912 at
BONDS
STOCKS AND
INDUSTKIAL
MAY, 1921.]
were
$2,125,000 of the preferred and all eacept
qualifying directors' shares of the common stock of the California Co.
Standard Gas A Electric Co. is, in turn, controlled by H.M. Byllesby A
Co. of Chicago.
V. 100, p. 817
of Delaware, which, in turn, owns
pref., 7% per annum since Incorporation.
On
(No. 1), Aug. 15 1915 to Aug, 15 1920 2% p. a. (X% Q.-F.).
DIVIDENDS.—On
common
BONDS.—First A Refunding M. 5% Bonds.—Authorized,
$10,000,060,
sinking fund operations.$1,080,000. Except for refunding
outstanding) no additional bonds may be
issued except when the annual net earnings are twice the interest on all
bonds outstanding and contemplated, and then only for 75% of the cost of
extensions, and improvements.
Semi-annual sinking fund till June 1919,
1 %of bonds issued, thereafter IX %V 102, p 1544: V. 109, p. 1468.
The $1,564,000 10-year 6% notes of 1917 are part of an auth. $5,000,000
issue, calL.all or part, prior to Feb. 1 1921 at 102; at 101 till Feb. 1 1925;
thereafter at 100 and interest.
No new mortgage may be created upon
the present property without equally securing these notes. The remain¬
ing notes may be issued only when net earnings, after interest on all prior
liens, are three times the annual interest charges on (a) ail notes, Including
those applied for; (b) on floating debt; interest on obligations to be paid by
proceeds not to be considered.
V. 104, p. 263, 1270. 1505, 1597.
The $990,000 5-year 6)4% Coll. Trust notes, dated Aug. 1 1918 (of a
total of $1,500,000) are secured by pledge of $ 1,398,000 of First A Refund.
5% gold bonds due 1941.
The notes are due Aug. 1 1923, but callable
upon any interest date prior to Feb. 1 1921 at 102. thereafter and prior to
Feb. 1 1923 at 101, on Feb. 1 1923 at 100X.
V. 107, p. 1009.
redeemed through
divisional bonds (only $239,000
*
On Feb.
10 1910 an extra dividend of 300% was
paid from accumulate
In paying for
p.1355, 1674
surplus, shareholders being allowed to use two-thirds of this
$16,000,000 new stock, increasing issue to $24,000,000. V. 89,
1921—4 Mos.—1920.
EARNINGS—
1920—Cal. Year—1919.
$900,300
$985,631
181,466
171,274
a$673,114
36,729
Total net income.
Expenses and taxes
$313,417
82,967
$636,385
34,496
$230,450
$718,834
$814,357
151,201
265,792
426,276
Cal.
Cross
Year.
Earns.
1920——$2,224,909
1919
1,901,303
19181,628,996
1917
1,402,870
Net After
Taxes.
$815,286
782,900
643,594
625,235
Balance
Interest
^H. M. Byllesby;
OFFICERS.—Pres.,
income
Charges
—
—
Balance, surplus
$601,889
$79,249
$453,042
$388,081
a Includes $366,334 received as divs. from American Ry. Express Co.
—(V. 112, p. 559, 1749, 1875, 2032.)
WELSBACH CO.—(V. 112, p. 169, 1172, 1309.)
WESTERN
ELECTRIC
as successor
of
INC—Incorp. in New York Nov. 17
CO.,
an
owns
CAPITAL STOCK. -The stockholders voted Feb. 19 1920 to authorize
increase in the Common
stock from 150,000 shares no par value to
an
500,000 shares no par value. Of the new Co nmon stock, 200,000 shares
were issued, each common stockholder of record Feb. 19 being entitled to
subscribe for the new Common stock at $180 per share, in the proportion
of 1 1-3 shares of new stock for each share of Common stock held.
The $30,000,000 6% pref. stock was called for payment on Mar. 9 1920
at 120.
On Mar. 12 1920 the stockholders voted to create a new Issue of
$50,000,000 7% cum. pref. stock, par $100: none issued to Apr. 1921.
The $28,600,000 5-year 7% convertible bonds are conv. between April 2
1922 and Oct. 1 1924 into 7% pref. cum. stock, par for par.
They are
callable, all or part, at 103 to April 1 1922; 102 thereafter to April 1 1923,
and 101 thereafter to Oct. 1 1924.
Dividend No. 1 on new common was $4 per share, paid Dec. 31 1915;
Mar. 1916 to Dec. 1917, $2 quar.; Mar. 1918 to Mar. 1921 paid $2 50 quar.
First mortgage 5s, 1922, V. 90, p. 307; V. 91, p. 1578, 1636.
REPORT.—For year ending Dec. 31 1920, in
1920.
1919.
Gross sales
Net
earnings
Interest
1,263,180
4,037,645
1,540,528
1,100,000
dividends
345,000
(6)1,800,000 (6)1,800,000
dividends._($10)3,000,000($10) 1500,000($10) 1500,000
Res've. conting.,
Pref.
_
paid
V. 112, p. 1306, showed;
1917.
1918.
$206,111,680 $135,722,489 $145,226,000
8,277,414
5,652,089
6,150,849
&c
_
$150,340,359
6,661,560
1,309,844
2,500,000
(6)1,350,000
($8)1,200,000
erties. of which about 57 corporations mainti
Balance, surplus.
$1,088,909
$894,769
$210,321
H. B. Thayer;
Du Bois; Treas., J. W. Johnston; Sec., G. C. Pratt.
Broadway.—(V. 112, p. 478, 1275, 1306, 1875.)
OFFICERS.—Chairman
of Board,
WEST PENN POWER CO.—See "Electric Railway
WESTERN POWER CORP. OP N.
$301,716
Pres., Charles G
N. Y. office, 195
Section."
Y.—ORGANIZATION.—Incorp.
Jersey company of similar name
following: Great Western Power Co
In N. Y. June 5 1915 as successor to a New
A holding company controlling the
(which see above); Great Western
Co., City Elec. Co.. Consolidated
Power Co. of Cat., California Generating
Elec. Co. and Western Power Co. of N.JT
STOCK.—As shown in table (on Dec. 31 1920).
DIVIDENDS.—Paid
on
pref.
shares
No bonds
quar.
April 15 1916 to
15 1921, IX% quar. V. 109.
1%
July 15 1919, inclusive; Oct. 15 1919 to Apr.
p. 1280.
organizations.
war
tax
and
1920—.$5,865,703 $2,880,852
$399,562 $2,102,643 $424,512 $75.1,259
1919— -$5,172,877 $3,106,984 def$412,805 $1,852,062 $346,657 $495,459
1918
4.644.407
2,700,901
def 44.719
1,806,428
277,085 566,610
1917— 4,008,553
2.475,279
defil3.286
1.707,790
276.840 377.363
OFFICERS.—Pres.. F. Lothrop Ames. Boston; V.-Pres. A 8ec.,H. P.
V.-P.. W. H. Spaulding, San Fran.; Treas. & Asst.Sec.,
M. Tompkins.
N. Y. office, 50 Broad St. See Great Western
Power Co. above.—(V. 109, p. 1280, 2446.)
Wilson. N. Y.;
Frank
WESTERN STATES GAS 5c ELECTRIC
CO.—A consolidation operat.
ing In Humboldt, San Joaquin, Contra Costa and adjacent counties in Cali¬
Installed capacity, 13.400 h. p., incl. hydro-electric, 8,600 h p.
and steam-operated power plants. 4,800 h.p.
Also manufactures and dis¬
tributes gas in Stockton and Eureka.
V. 105, p. 723.
Rates V.I07. p.1389
fornia.
Electric Co., through own¬
Western States Gas A Electric Co.
CONTROL.—Controlled by Standard Gas A
ership of
a
majority of the stock
of
'19. '20. '21.
7
7
See
DIVIDENDS—
\ '08. 1909-13. '14. '15. '16. '17. *18.
%} 3)4 3 yearly Z% 4X 5
6X 6X
%j2)4stk.
_■—
—
XI
1
1921: Jan., 1^%; April, \%%.
Regular
—
Extra__
In
text
-
value) were pledged
for the collateral trust bonds: Gold A Stock Telegraph, $1,111,800: Inter¬
national Ocean Tel., $1,961,500; N. Y
Mutual Tel., $2,387,700: Maine
Telegraph Co., $111,000; Washington A New Orleans Teleg. Co., $30,000;
BONDS.—On Dec. 31 1914 the following stocks (par
%nd
bonds.
Mutual
ThiL Funding
V.
74ff p.
Tel
6s.
$3,143,000.
and Real Estate 4X&, V. 70, p. 384, 1203;
p. 1451; V. 80. p. 226; V. 97. p. 1827.
V. 71, p. 750;
785; V. 78.
Capitalisation of Leading Leased Properties on Feb. 15
Lease
1 nt .or div
Capitalization of Leading
Leased Pranerties—
expires.
Amount.
% Period.
1932
2010
Am. Tel. A Cable stock
Anglo-Amer Tel. pref. stook
do
ordinary stock
do
deferred stook
2010
2010
2004
2010
Jhlo. A St. Paul Tel. stock.
Direct U. S. Cable Co
Dominion Tel. Co. stk. ($50)
Empire A Bay State stock--
1978
1989
1975
1981
1981
Go'd A Stock Tel. stook
Jan.
tnternat. Ocean Tel. stook-Jan.
N. Y. Mutual Tel. stk. ($25)Feb.
Mu. U.Tel. IstM.ext.gu.p.Ai.
1982
300.000
360.100
2,444,400
987,300
<112,300
Bonds
mature.
Q—M
$14,000,000 5
£3.240,540
£518.920
£3.240.540
43,000
£1,214,200
711,700
1917.
No bonds
MAS
No ooDds
6
3X
IX
3
,
See below
6
Q—J
4
Q—M
2X MAN
6
Q—J
6
Q—J
6
gl.857.000 5g. MAN
No bo
ds
No bo' ds
No bonds
"~No
May
bonds
1*41
2.500,000 fl
J AJ
($50)--May 7 1980
—
—
---1,500.000 4X
1stM., p. A1.guar. (V.91, p. 1022)__
1,500.000 4)4 JAJ
JAJ
Jan 1934
528.325 4
JAJ
Pac. A Atl. stock ($25)
99 years
528.325 4
JAJ
No bonds
558.575 5
A AO
3ou. A Atl. stock f$25)
999 years
558.575 5
A AO
No bonds
On Dec. 81 1915 the company owned (not Included in above amounts
Ohio. A St
Paul Tel.. $57,000; Dominion Tel., $288,300- Franklin Tel..
Northw. Tel.
stk
$630,000; Gold A Stook Tel., $2,555,600; Int. Ocean
Pacific A Atl. Tel.. $1.471.675; So. A Atl.. $390,975.
Also owns through collateral trust, viz,,
e $2,387,700;
Tel.. $2,012,700;
g
$3,143,000.
the British Govt.,
cable is now being
lease from the British Post Office. V. 112,
The Direct U. S. Cable Co. in 1920 sold its cable to
the lease by the W. U. having been terminated.
The
operated by the W. U. under
COMBINED EARNINGS.—For cal. years:
Cross
Net, after
Other
,Interest, A West P 4% Balance.
Earnings.
Taxes.
Income
Quar. Divs. Pref.Din. Surplus.
Cal.
Year—
in their corporate Identity
V. 97. p. 1903; V. 98, p. 301, 392, 615, 1076, 1998,
telegram tax. V. 105. o. 1904.
Ticker decision.
V. 106, p. 2238, 2385; V. 106, p. 2458.
Rate increase effective April 1 1919.
V. 108, p. 1392; V. 109, p. 688.
Govt, petition to prevent laying of cables
from the Barbados to Miami, Fla., denied. V. 112, p. 941, 1172.
On July4)1 1918 the U. S. Govt., as a war emergency, assumed the opera¬
tion of the land lines of this company and the Mackay Cos., and also the
Bell Telephone lines.
The marine cables were similarly taken over but were
returned to the companies on May 3 1919.
The telephone and telegraph
lines were returned on Aug. 1 1919.
V. 107, p. 231, 350, 468, 504; V. 108,
p. 1775. 1887. 1972, 1974, 2534: V. 109. p. 234, 438.
and
Franklin Tel. stock-
Com.
Graf.—(V. 112, p. 271.)
WESTERN UNION TELEGRAPH CO.—Organized under the laws of
N Y. State on April 2 1851 and present name adopted In 1856.
From in¬
corporation to Oct. 1917 the company has acquired and controls by pur¬
chase, lease or stock ownership, some 535 telegraph corporations and prop¬
Excess
Illinois corporation (organized in 1881).
American
98% of the outstanding capital stock.
V. 104, p. 78,
1053.
International West Electric Co., Inc., v. 107, p. 609.
Western
Electric Co., Ltd., Canada, V. 107, p.. 1292.
For description of plants,
details of new machine-switching system, &c., compare annual report pub¬
lished in full in Y. 112, p. 1306.
1915
Tel. & Tel. Co.
136,396
151,473
Vice-Pres's., J. J. O'Brien, F. C.
Gordon, and Otto E. Osthoff; Sec. & Treas., R. J.
Net
Surplus.
Divs.
$168,554
152,666
150,424
148,750
Charges.
$390,734
378,334
356,774
325,012
P'On
Dec. 31
1920 the capital
stock of subsidiary cos. not
owned by the
Western Union Telegraph Co. aggregated at par value only $1,781,875. viz.:
Companies controlled by peroetual leases. $1,350,325: companies con¬
trolled by stock ownership, $431,550.
The bonds of subsidiary companies
assumed or guaranteed Dec. 31 1920 (see table at head of page) aggregated
$6,500,000, of which $3,143,000 were held in W. U. treasury; balance,
$3,357,000.
The "deferred non-Interest bearing liabilities," as shown in balance sheet
of Dec. 31 1920, "In respect of proceeds of sales of securities and other
properties held under leases for terms expiring in 1981 and 2010 from
companies in which the Western Union Co. has, for the most part, a
controlling interest, payable only on the termination of the leases," ag¬
gregated $12,998,3^7.
In Dec. 1917 the Great Northern Ry. resumed operations of the line along
Its right of way between 8t
Paul and Seattle.
V. 105. p. 2183.
EARNINGS.—For 3 months ended March 31 1921 (March est.): Gross,
J
$26,430,000; net, $2,131,462; int., $332,962; net
p. 1626.
it
inc., $1,798,500.
V.fll2,
STOCKS AND
INDUSTKIAL
Date
see notes
on
61
page
Par
Amount
Bate
When
Last Dividend
Bonds
MISCELLANEOUS COMPANIES
*[For abbreviations, &c.,
Value
Outstanding
%
Payable
and Maturity
$3,745,500
3,395,000
4,600,000
29.127,350
Text
$100
"Wert India Sugar Finance—Com $4,000.000.
Pref (a A d) Stock 8% cum s f call 116 $5,000,000—*
Secured 7% Bda $10,000,000 auth
Qxxxxc»&r*
100
500 Ac
1919
Westinghouse Machine Oo—1st A Ref Mtge eoid.
Westinghouse Foundry 1st M guar due SAojKK) yearly.
Weyman-Bruton Co—Common stook $9.000,000
Pref stock (a A d) 7% non-cum $9,000,000-Also authorized to list additional $180,050
REPORT.—Year ends Dec. 31.
■
on
1,000
1902
1.000
100
...
Stock
For 1920, V. 112, p. 1511, 1526:
1918.
b5,184,298
compensation
Net income
1,481,860
Bxchang
>
1,606,524
1917.
$76,995,511
$14,212,505
3,327,113
1,391,129
1,484,712
$14,634,972 $13,638,595 $12,396,726 $15,697,216
Disbursements—
Bond interest
$1,331,850
Transferred to reserves—
Accrued depreciation-
517,400
6,982,538
Deprec'n or securitiesCash dividends (7%)—
Adjustments (net)
Cr.166,557
Balance, surplus---—— $5,969,740
C$554,938
$776,913
$1,331,850
1,825,000
623,271
6,982,472
1.456,439
$2,196,475
1,000,000
152,816
6,982,381
214,033
$3,270,583
1,900,000
750,000
6,982,298
$4,733,069
From the Land Line System for five months ended Dec. 31 1919 and
months ended July 31 1918 and from the Cable System and Maritime
Provinces for the calendar years.
See "b."
bThis is the compensation
due the company from the U.S. Government for the use of the Land Lines
a
seven
from Aug. 11918 to Dec. 31 1918 and Jan. 11919 to July 311919.
months to Aug. 1 1918 and five months to Dec. 31 1919.
Miles of
c
Seven
Miles of
No. of
Receipts.
Profits.
$
Wire, &c. Offices. Messages.
$
183,832
7,072 18,729,567
10,034,984
3,399,510
769,201 21,078 66,591,858
24,978,443
7,496,037
1,627,342 25,234 Not stated
63,621,601 14,893,679
1,447,105 24,881 Not stated 119,991,825 14,634,972
Year—
Poles, Ac.
1876
73.532
1893------.189,936
1916237,664
1920 ——214,233
...
DIRECTORS.-—Newcomb Carlton (Pres.), Oliver Ames. William Vin¬
Astor, Henry A, Bishop, Chauncey M. Depew, R. S. Lovett, Donald
cent
G, Geddes, Chauncey Keep, Jacob H. Schiff, T\ De Witt Cuyler, Howard
Elliott, Julius Kruttschnitt, Charles B. Seger, Edwin G. Merrill, Henry
W. deForest, William Fahnestock, Percy A. Rockefeller. William K. Vanderbilt Jr., Mortimer L. Schiff, William H. Truesdale and Albert H
WIggin.
Sec. is Andrew F. Burleigh.
Office. 195 Broadway,
—(V. 112, p. 169, 271, 380, 661, 941, 1172, 1626, 1620, 2092.)
WEST
N,
Y.
INDIA
SUQAR
FINANCE
CORP.—ORGANIZATION
Incorp. Aug. 1 1913 in Conn.
Business consists in financing sugar coxn-
6anies In thesugar cane and selling thesecured by mortgages, liens on growig crops of West Indies by advances sugar produced.
Has also financed
and developed sugar companies in Cuba, Porto Rico, and Santo Domingo.
Although the corporation does not control these companies by stock
ownership. It is protected in Its relations with the underlying Cuban com¬
panies by contracts which insure proper management of the companies and
provide that capital expenditures and dividend payments shall rest with the
discretion of the corporation.
V. 108,,p. 2440.
For statement of property, capitalization, Ac., of the companies having
bonds pledged to secure the 7s of 1929.
See V. 109, p. 2440.
.
STOCK.—Annual sinking fund beginning Oct. 1920 provides for 3% of
the issued Pref. stock (V. 109, p. 895) which will retire tne stock at 115 and
dividends.
BONDS.—The bonds are callable at 105 and int. for the sinking fund,
which will itetire about $500,000 annually.
Additional bonds may be issued
from time to time against the deposit of additional First Mtge. bonds of
the underlying or other companies, issued at not exceeding 50% of the cost
of newly acquired property, betterments, Ac., to properties upon which
they are a lien.
ing companies:
These bonds
are
secured by pledge of bonds of the follow¬
Palma Soriano Sugar Co. 1st M. 7s—
Cupey Sugar Co. 1st M. 7s
,
-
-
Central Alto Cedro 1st M
Carmen Centrale 1st M. 6s
The company
the
reserves
—-
$2,340,000
1,170,000
2,500,000
562,000
privilege of temporarily hypothecating i-
§lace of a portion of the above collateral an equal amount of U. 8. Libertv
onds not exceeding $300,000.
V. 108, p. 2440.
EARNINGS.—Earnings available for pref. stock divs. for fiscal
Sept. 30 1920 amounted to $1,131,839. V. 112, p. 59.
year
OFFICERS.—Thomas A. Howell, Pres.; Henry W. Wilmot and Howard
V.-Pres.; Lorenzo D. Armstrong, Sec.; James Bliss Coombs,
Treas.—(V". 112, p. 69, 68, 569.)
J. Pullum,
WESTINGHOUSE
BRAKE CO.—ORGANIZATION, AC.—A
V. 67, p. 843, 1065; V. 77, p. 1307; V. 94, p
a general license under
Patents.V.95, p. 748; V. 105, p. 1517.
Option to subscribe to
100,000 shares of Westinghouse Brake A Saxby Co., Ltd. V. Ill, p. 1958.
.
AIR
Pennsylvania.corporation.
141.
In 1912 granted the New York Air Brake Co.
The
shareholders
voted Mar.
15
1917 to Increase the authorized
capital stock from $20,000,000 ($19,730,967 outstanding Dec. 8 1910) to
$30,000,000 In order (l> to acquir« the stock of the Union Switch & Signal
8=j
text See
7
4.088,800
Dividends
are
Payable
129 Front St N Y
do
do
do
do
do
Apr 15 '21, 2%
do
May 11931
Coionlal Trust Oo, Pitt
Nov 1 1940
To May 1 1926 Colonial Trust Co, Plttsb
Checks mailed
text Apr 1 1921. 2
Apr 1'21.
Q—J
do
1
■
e
WESTINGHOUSE ELECTRIC &
MANUFACTURING CO.—OR¬
GANIZATION.—A Pennsylvania corporation manufacturing appliances
used for electric-llgbting and power purposes.
V. 54, p. 763; V. 85. p. 150,
1458.
Owns exclusive rights to Tesla patents on alternating currents.
V, 01, d. 25. 153.
The Bsslngton works on Delaware River near Phila¬
delphia was completed in 1918 and began working on contracts from U. S.
Govt, to occupy capacity for about two years, supplying equipment for
cargo ships.
V. 1077p. 516,2482; V. 100, p. 2204.
in 1917-18 also a plant
was built at Trenton, N. J., to manufacture incandescent lamps.
V. 105,
p. 2006) V. 106, p. 1809, 2223.
In June 1918 purchased the Krantz Mfg.
Co., Inc.. Brooklyn. N. Y. V. 100, p. 2704.
During 1918-19 acquired the
Franklin Electric Mfg. Oo., manufacturer of incandescent lamps at Hartford
A Middletown, Oonn.
V. 108, p. 2236.
In April 1919 the company had
arranged to sell its British interests.
V. 108, p. 1524, 1064, 2336.
In
Oct. 1920 acquired control of the International Radio Telegraph Co. and
added the manufacture and sale of apparatus for radio communication to
Its regular lines of activities.
V. Ill, p. 1480.
New England Westinghouse Oo. ($1,000,000 outstanding stock).
The
plant at Chicopee Falls is now in operation, devoted exclusively to manu¬
facture of industrial motors and automobile starting and lighting apparatus.
V
108, p. 2236; V. 100, p. 93,2601; V. 105. p. 2549.1420. V. 100, p. 1924,
1679; V. 101, p. 619; V. 103, p. 2245.
In 1908 finances were readjusted (V,80,p. 922; V.87, p. 101. 875, 1531,
In June 1917 merger of the Westinghouse Machine Oo. was effected,
»ver 98% of the stock having been acquired.
V. 104, p. 1109,2016. 2250.
Turbine orders, V. Ill, p. 1382.
NEW STOCK.—An Increase of the common stock from $56,000,000 to
$71,000,000 having been voted Feb. 15 1917, holders of the outstanding
allowed to subscribe and pay for In full at par on Feb. 21
1917 for about $14,957,125 new common stock.
The proceeds were used
to finance the expanding business and to build a new factory on the Dela¬
ware River.
V. 103, p. 2245; V. 104, p. 670, 770, 869, 1296, 2652; V. 107,
p. 2482.
The pref. stock carries cum. divs. of 7% per annum, with the right to
participate equally with other stock after the same shall have received 7 %
and pref. as to principal.
See editorial May 1893 issue.
The stockholders voted on Nov. 18 1920 to increase the company's in¬
debtedness in the sum of $30,000,000 and increased the capitalstock from
$75,000,000 (consisting of $71,000,000 common and $4,000,000 pref.) to
$125,000,000, the additional stock to be common stock.
V. Ill, p. 2050.
common stock were
DIVS.— '09. '10. *11. '12. 1913-14. '15. '18. 1917-18.
*19. '20.'21.
Pref., %—5Ji 10H12>4 7 Tyearly
7
7 7 yearly.
7H
8 See
Com., %...0
0
0
2 4 yearly
5
4H 7 yearly
7H
8 text
Also on common and pref. July 31 1917 a special 14 of 1% to aid Red
Gross contributions.
July 1919 to Apr. 1921 paid 2% quar. on both com.
and pref. stocks. V. 104, p. 2562; V. 108. p. 2029: V. 109. p. 1280.
BONDS.—The 7% bonds are redeemable as a whole only on and after
May 1 1926 at par and int. together with a premium equal to H % of their
principal amount for every 6 mos. intervening between the date so fixed
for redemption and the date of maturity.
V. Ill, p. 1759.
There are also $7,500 5% collateral notes due Jan. 1 1924; real estate
purchase money mtges., $60,000.
ANNUAL REPORT.- -Fiscal
year
ends Mar. 31.
1919-20.
1918-19.
$
$
150,980,106 136,052,092 160,379,942
15.885,486
16,801,164
17,335,802
378,804
2,764.648
1,594,823
1917-18.
1920-21.
$
Sales billed.....^...
Total net income..
Int.
Int.
on
bonds and debs
collateral notes
Int.
on
notes
on
II
payable
Miscellaneous ■—
Div. on pref. stock (7%)
Div. on common stock..
...
Balance
over
Includes
95,735,407
16,834,733
303,917
1,891",478
503,302
319.896
5,664,998
319.896
5,665,003
l",108",046
25,698
279,909
4,956,876
17,089
x299,903
x5,310,946
$6,632,641
$9,221,442
$9,803,037
$9,794,833
3;. 42.265,280
43,435,763
36,207,732
26,404,695
surplus.
Total surplus March
Red Cross dividends of
J4 of 1% each on pref. and com.,
••ailing for $19,994 and $354,070. respectively.
x
DIVIDENDS.—A dlv. of 5% was paid on the Common stock Sept. 30.
making a total of 8% for the year ended Sept. 30 1919, 3% having been
paid May or June 1919.
Mar, 1920 to Juie 1921 paid 1 % % quar,
Pre¬
vious payments since incorporation had been at the rate of 6% per annum,
On pref,, Dec, 11919 to June 11921, 2% quar, V, 109, p, 1186,
A
Places Where Interest and
Q-J31 Apr 30 '21. 3H Pittsburgh, Pa
Apr 30 *21, 2% Checks mailed tromPItteb
14
0,023,800 See
100
JL92lV£
M
J
50 8 in 1920
3,998,700 8 in 1920
M
&
N
30,000,000
Ig
Q—F
6 S
0,168,000
WAN
5
107,000
50
1910
Gross oper. revenue—.$119,991,825a$55,308,639 $54,283,411
Net operating revenue--$13,153,112 a$6,847,774
$7,678,485
Due from U.S. Govt, for
Income from loans & in v.
*
x
the N. Y.
1919.
1920.
.
500 Ac
.*
...
x
.
1920
__Ce.xxx.c*&r*
June 1 21
June 1
D June 15 *1929
•M
8
7 g
60
50 *70813 9
Westinghouse Air Brake—«toc« $30.000.ooo
Westing ElAMfg—Com. stk $121,000,000 auth...
Pref stock $4,000,000 (a & d) 7% cum and participating...
Gold bonds red text
[VOL. 112.
BONDS
Note —included in
for
depreciation
$5,000,000
was
and
also
"Cost of sales" in 1920-21 is charge of $5,315,196
adjustment of inventories.
An appropriation of
made for a special contingent reserve for further
possible shrinkage and adjustments in inventories.
Unfilled orders on April 1 1921 amounted to $65,621,000.
DTREOTOR8.—Class expiring in June 1921—James D. Gallery, Paul D.
Cravath, William H. Woodin and Harrison Nesbit.
Class expiring June
1922—A. G. Becker, George M. Verity, William McConway, J. J. Hanauer,
Class expiring June 1923—Samuel M. Vauclain, John B. McOune. Edwin F.
Atkins and E. M. Herr.
Class expiring June 1924—Joseph W. Marsh,
Guy E. Tripp. H. H. Westinghouse and Albert H. WIggin.
OFFICERS.—Chairman of Board
Guy E
Tripn; Pres.. E. M. Herr
V.-Ps„ H. P. Davis. L. A. Osborne. Charles A. Terry, H. D. Shute, H. T.
J. O. Bennett
Offices, 165 Broadway, N. Y-, and East Pittsburgh, Pa.—(V. 112, p.
1749, 2185.)
Herr and Walter Oary; Treas., H. F. Baetz; Comp. A Sec.,
Oo^, (2) to pay on the stock as so increased a dividend of 20% ($10 per sh.)
&TO?P2&0Jl,se AiF Brake stock. This increased the outstanding stock to
WESTINGHOUSE MACHINE CO.—See Westinghouse El. A Mfg. Co.
2349° VWli04, p38263? lofs!" treaSUrJ Dec' 31 1920) - Ses V" 103-
Deo. 2 1911 and took over the snuff factory at Chicago,
111., formerly
owned by American Snuff Co..
two at Nashville, Tenn.. entire stock
of De Voe Snuff Co. with factory In Spotswood. N. J., and 50% of stock of
p
2245
LATE DIVS. [
*08. *09. *10.
11.12. '13. *14-15.10
'17 '18 *19.
Percent
>12^11^ 21
20
19
16
10
20 14&
14
14
In stock—— t 25
331-3 5
20
From April 1917 to Apr. 1921 paid 3H%
quar. (14% p. a.).
—
-
—
REPORT.—For year ended Dec. 31 1920, in V
Year ended
Year ended
,,
Net earns., all sources^
$6,580,404
$7,912,569
4,072,492
1,625,000
$9,711,900
^5,076,978
2,250,000
Balance, surplus.-$1249,122_$2,2l5,077
Total surplus Dec. 31 1920, $16,140,580.
$2,384,922
Cash dividends paid
Federal taxes (est.) ——
...
.
.
4,081,282
1.250.000
14
'21.
See
..text
112, p. 1514:
17 Mos. to
Year ended
Dec. 31 '20. Dec. 31 '19. Dec. 31 '18.
.
'20
—
1916-17.
$6,388,463
5,565,413
.
$823,050
Chairman, Henry H. Westinghouse; Vice-Chairman, John F. Miller
Pres., A. L. Humphrey; Treas. & Act. V.-Pres., 8. O. McConahey; Sec..
Hubert C. Tener.
N. Y. office, 165 Broadway.—(V. 112, p. 1514.)
WEYMAN-BRUTON
CO.—ORGANIZATION.—Incorporated
N. J.
In
Na tional Tobacco Co., Ltd., of Canada, with factory in Montreal.
Gravely Tobacco Co., Danville, Va., V. 93, p. 1609; V. 94, p. 285.
STOCK.—No lien
P. B.
prior to the pref. stock without the consent of two-
thirds of each class of stock.
Pref. stockholders in 1918 were offered the
right to subscribe at par for 20% ($920,000) new pref. stock, increasing the
pref. to $5,520,000.
V, 107. p. 1105.
The shareholders voted Dec. 4 1918 to Increase the authorized capita]
stock by 30,000 shares each, of com. and pref. stock (par $100>,
the total authorized capital stock $18,000,000, of which $9,000,000
making
Is pref.
and a like amount common.
The new pref. stock will from time to time
be offered to the pref. shareholders at par, and the common stock to the
common
shareholders at par, in order to provide additional
working
capital when and as needed.
Common shareholders of record Jan. 4 1919
were permitted to purchase 20%
($1,104,000) new common at par.
V.
107, p. 1843, 2015, 2195, 2297, 2482; V. 108. p. 177. 387.
MAY, 1921.]
INDUSTRIAL
MISCELLANEOUS COMPANIES"
[For abbreviations, &c.,
Date
White Motor Co—Auth capital stock $35,000,000
Oil Corp—Stock 1,000,000 shares—_—
.
Par
Amount
Rate
When
Bonds
notes on page 6]
see
STOCKS AND BONDS
Value
Outstanding
%
Payable
$50 $25,000,000
None
681,905 sh.
_
White
_________
Equipment trust notes—see
text
Wickwire Spencer Steel Corp—Com stk auth 250,000 shs_
Common Class A stock $4 cumulative stock auth 80,000 shs
8% cum 1st pref (a A d) stock red 110 auth $10,000,000First Mtge s fbonds callable (see text)auth $30,000,000 Gc*
Willys Corporation—Common 5,000,000 shares
First pref (a A d) 8% cum conv stock call at 110 $15,000,000
Second pref (a A d) stock 7% cum conv (call 100;
Willys-Overland Co—Common stock $75,000.000__
Preferred (a A d) 7% cum convert, red at 110
Pref stock 7% cum non-convert $10,000,000,
See text__
8
5 250.000shrs
Q—J
New
5
8
13,228,000
4,450,000
15,000,000
10,000,000
61,621,825
14.044.800
8,893,600
100
100
•
25
100
100
DIVIDENDS.—T1912.
common
%\ 5
*15. 1910.
1913.
'14
1917.
1918
1919-21
12
12
12
10
12
Text
See
14
10
%|
—
text
scrip or stock. % I (xPald off 1915) x20 xlO
—
20
/'• Pref. dividends 7% per annum (1*4% Q.-J.) since April
1912.
In March 1918 a stock dividend of 20% was declared on the
$4,600,000
common stock, payable Oct
1 to holders of record Sept. 10, to take the
place of the quarterly distribution on the common stock usually paid
April 1, July 1 and Oct. 1.
V. 106, p. 1040.
On Jan. 2 1918 the common
received 3% and 2% extra ($230,000).
Jan. 1919 to Apr. 1921 paid23^%
On
extra
Last Dividend
and Maturity
June 30
Dividends
'21,2% Checks
are
Payable
mailed
Feb" "l" r2T," $1
Q—F
Q—F
J
7g
A
8
May 2 *21, 2%
J Jan
Q—M
1
193^
See text
See text
Julyl 1920
See
text
Nov
See
text
Oct
See
text
at the rate of 2
Places Where Interest and
New
$4
7,725,000
500 Ac
None
1920
80,000shrs
100
245
1H
1 1920 1%
1 1920
Nov 1 '20
H shares of
common
stock of the Electric Auto-Lite Co.
funded debt has been paid off.
Bankers Trust
1H
1 %
6o,~N~Y
do
do
Company, Toledo, O
for each share of 2d pref.
Old pref.
paid off at 110 on Jan. 2 1920.
All
was
—
_
quar.,
with
extra.
no
Common dividends...(10%>662,360
stock
1919.
1918.
1917.
x$l,727,205 x$l,487,984 x$l,471,528
328,216
323,554
322.000
(10)662,300(2^)138,000 (20)920,000
(20)920,000
—
Balance, surplus.
$814,959
$736,689
$106,430
$229,528
x After providing for Federal taxes.
OFFICERS.—Pres., J. Peter:
Peterson; Sec. & Treas., I. L. Elliott.
Office,
1107 Broadway, N. Y.—(V. Ill, p. 2237.)
WHEELING STEEL CORP.—(V. 112,
p. 1032, 1626, 1973, 2205.)
WHITE EAGLE OIL & REFINING CO.—(V. 112, p. 59, 478.)
WHITE MOTOR CO.—ORGANIZATION.—Incorporated in Ohio and
took over all the capital stock, excepting qualifying shares, of the White Co
of Cleveland, makers White motor trucks.
(V. 103, p. 1979.)
The manu¬
facture of passenger automobiles was discontinued in 1919.
STOCK.—The stockholders
on
June
10 1919 authorised
an
increase in
capital from $16,000,000 to $20,000,000 and holders of June 14 were allowed
to subscribe for the $4,000,000 new stock at par.
The stockholders voted
Dec. 12 1919 to increase the capital stock from $20,000,000 to
$25,000,000;
the new stock being offered to stockholders at $50 a share on the basis
of
new share for each four shares held at the close of business
Dec. 15.
V. 108, p. 2029, 2440. 2534; V. 109. p. 1899, 2364.
The stockholders voted June 9 1920 to increase the
capital stock from
one
DIVIDENDS.—No. 1 April 8 1916, 1$*%; No.2July 15.1J*%;
1J*%; Dec. 31 1916 to June 30 1921, 2% quar.
REPORT.—For year 1920, in V. 112, p. 1277, showed:
.
Calendar
Total
Total
Federal
Dividends
Years—
Sales.
Income.
Taxes.
Paid.
1920
$51,998,122 $3,903,942
$300,000 (8%)$2,000,000
191941,667,697
5,729,876
2,860,000 (8%)
,
1918
39.559,794
6.380,585
3.700.000
Profit and loss surplus Dec. 31 1920, $8,472,311.
1,440,000
1,280,000
Sept.
Balance,
Surplus.
$1,603,942
1,429.876
1,400,585
OFFICERS.—Chairman, W. T. White; Pres., W. C. White; V.-P.,
Thos. H. White; Treas., Geo. H. Kelly; Sec., T. R. Dahl.
Office, 6611
Euclid Ave., Cleveland, O.—(V, 112, p. 941, 1277,
2092.)
WHITE OIL CORP.—Incorp. in Del.
on Oct. 16 1919.
Controls through
Co., Imperial Gasoline Co. and
application to N. Y. Stock Exch. in
stock ownership the Crown Oil A
Refining
White Oil Realty Corp. (See listings
V. Ill,p. 1760).
CAPITAL STOCK.—Authorized, 1,000,000 shares;
no par value.
905 shares of
outstanding, 681,-
outstanding the following: White
Oil Realty Corp., 6% Realty Mortgage, $600,000;
tank car equipment
notes, $953,179; deferred payments on leaseholders, $143,230.
In April
1921 sold $374,000 6% equip, notes Series "B," due
annually V. 112, p.
2205.)
WICKWIRE SPENCER STEEL CORP.—A
merger,
as
of the
of Jan.
1920,
Clinton-Wright Wire Co., one of the largest manufacturers of wire,
wire rope, wire screening, wire netting, wire
fences, wire hardware and wire
specialties, and the Wickwire Steel Co., an extensive manufacturer of
pig
iron, steel ingots, wire rod| and other high-grade steel wire
products.
CAPITAL STOCK.—Class A common shares and the common shares
of equal status as to assets.
Class A common is entitled to cumulative
divs. of $4 per share per ann., but no more.
First pref. (a. & d.) stock
(8% cum.) is redeemable as a whole, or in part for sinking fund by lot.
at 110 and accrued divs.
Sinking fund commences Dec. 31 1922, equal to
3% (if earnings permit) of the aggregate amount at any time issued. Auth.
amount was increased from $7,500,000 to
$10,000,000 in Jan. 1921.
Exchange of common stock certificates and retirement of first pref. stock
of Clinton-Wright Wire Co., V. 110, p. 977.
BONDS.—The 1st Mtge. 7% s. f. gold bonds ($30,000,000
auth.) are
are
whole
or in
part as follows: 105 to Dec. 31 1924; 104 to Dec. 31
1928; 102 to Dec. 31 1930; 101 to Dec. 31 1932; 100
Sinking fund, commencing in 1923, will retire over 50% of the
present issue before maturity.
EARNINGS.—For cal. year 1920 showed net sales, $32,623,894;
surplus
after interest, $3,001,082.
V. 112, p. 1172.
m.
41
as a
1926; 103 to Dec. 31
thereafter.
DIRECTORS.—Harry W. Goddard, T. H. Wickwire, T.'HrWk^ke
Jr., Ward A. Wickwire, G. M. Thompson, Frank Kilmer, L. W. Robinson,
Frank A. Drury, Paul B. Morgan, R. B. Young, H. T. Ramsdell, John
E,
White, Jerome R. George, A. F. Stilson, J. A. Denholm.—(V. 112, p. 478,
569, 856, 1172. 1525.)
WILLYS
1917 in
name
CORPORATION.—ORGANIZATION.—Incorp.
Delaware
as
Elec. Auto-Lite Co.
and acquired the New Process Gear
the
In
Sept.
July
24
1919 adopted present
Corp. of Syracuse, N. Y., and
Duesenburg Motors Corp. of Elizabeth, N. J., and Poughkeepsie, N. Y.
on a large scale a new light weight six
cylinder automo¬
bile, developed by and to be sold through the Willys-Overland Co. (V. 109,
p. 1186). also manufactures on
a large scale, lighting sets for homes, farms
Ac.; gears and starting, lighting and ignition systems for automobiles.
A
new automobile plant is being constructed at Elizabeth, N. J.
Is to manufacture
SECURITY
HOLDINGS.—The security holdings on Dec. 31 1919 had
of $19,091,782
and
comprise
(over 27%) par value $25, of the Com. stock
$1,000,000 par value of the 7% Convertible
Second Preferred stock of the Fisk Rubber Co., and $1,000 of the 7% Con¬
a
book value exclusive of intangible assets
among others, 500,000 shares
of The Willys-Overland Co.;
vertible
holdings
Second
were
Preferred
stock
of
FIRST
PREF.
Chairman;
STOCKHOLDERS' COMMITTEE.—Howard
Bayne,
60 Broadway, N. Y.
Depositary,
Willard C
Mason, Sec,
Columbia Trust Co., New York.
"SECOND"PREF "STOCKHOLDERS' COMMITTEE—Arthur O.
Choate, Chairman; Thos. F. Lee, Sec., 51 Wall St., N. Y.
Depositary,
Bankers Trust Co., New York. »»*<•»»
^MERCHANDISE
Chairman;
Trust Co
,
CREDITORS'
COMMITTEE —F. C.
B. Page,
N Y
Depositary Bankers
E. E. Beach, Sec., 16 Wall St.
New York.
v",
BANKERS' COMMITTEE —E. R. Tinker Chairman; W.J Callahan*
Acting Sec., 61 Broadway, N. Y.—Compare V. 112, p. 661.
""DIVS.—An initial div. of $1 23 (for period Oct. 6 1919 to Dec.
1) was
paid Dec. 1 1919 on the 1st pref. stock; March, June and Sept. 1920, 2%;
Dec. 1920, 2% payable in scrip.
V. Ill, p. 2237.
Initial div. of l\% on
2d pref. paid Jan. 1 1920; same amount paid April 1 and July 1 1920.
REPORT.—For year ended Dec. 31 1919, in V. 110,
p. 969. showed:
Gross profit, $7,304,596; net profit, $5,364,683; reserves for Federal
taxes,
Ac.. $1,223,428; dividends, $580,245; premium on pref. stock retired,
$310,210; surplus, $3,250,800.
"
DIRECTORS.—J.
W. P.
N. Willys (Chairman), Jay Hall, J. R.
Harbeck,
Chrysler, J. E. Kepperley, C. B. Mertz, O. O. Miniger.
(V. 112, p.
571, 661, 1310.)
WILLYS-OVERLAND
CO.—ORGANIZATION.—Incorp.
In
Ohio
Nov. 1912 and acquired the properties and business of the Willys-Overland
of Toledo. O.
One of the largest manufacturers of automobiles in
the U. 8.
Excepting tires and a few patented appliances, it makes
Co.
prac¬
tically all parts from
raw
materials. The sales have been
1914.
1915.
48.000 95.000
1916.
142.441
1917.
as
follows:
1918. 1919.
88,733 80,853
140.002
1920.
105,025
ALLIED ACQUISITIONS.—The shareholders voted Aug. 14 1919 to
ratify a contract for the manufacture by the
Willys Corporation, for sale
by the Willys-Overland Co., of a new six-cylinder automobile recently
developed by said company.
See that company above and in V. 109, p.
580, 788, 987, 1180.
In 1917 purchased control of Curtiss Aero. & Motor
Corp. (which see
above), receiving the following securities, viz.: (a) 24,000 shares of Curtiss
7% pref. at $75 per share; (&) 60.000 shares of common at $25 a share; and
<c) $1,600,000 Curtiss 10-year 6% notes (redeemed in March 1918 at 102 H).
V. 105. p. 824, 820.
Control of this company, however, was relinquished
In Sept. 1920.
V. Ill, p. 1373.
In Sept. 1918 purchased control of the Moline Plow Co., in order to
manufacture motor-drawn farming implements in anticipation of
large
demand following end of the war.
See that company above and V. 107.
D
1292, 1389. 1925
In conjunction with the British firm of Crossley Motors, Ltd., formed the
Willys-Overland-Orossleys, Ltd., in Dec. 1919, which is producing the
Willys-Overland cars at Manchester, England, V. 110, p. 475.
Price reduction, V. Ill, p. 1382.
Creditors'Committee formed V. 112, p. 661.
Status in April 1921, V. 112, p. 1884.
were
1875.
REPORT.—For calendar year 1920 in V. 112,
p. 1525.
OFFICERS.—Pros., P. J. White; Treas., R. T. Wilson; Sec., A. M.
Fosdick.
N. Y. office, 66 Broad St.—(V. 112,
p. 661, 1407, 1525, 1875,
callable
were
No. cars sold
$25,000,000 to $35,000,000.
Notes payable Dec. 31 1920, $7,200,000.
BONDS.—On Dec. 31 1920, there
PROTECTIVE COMMITTEES.—The following
protective committees
formed in Jan. 1921:
—
'.V..v--•:
REPORT.—Year 1920:
Calendar Years—
1920.
Net earnings
._x$l,805,535
Pref. dividends (7%)...
328,216
do
.
the
Federal
in 11 companies, all of which
are
Rubber
directly
Co.
or
Additional
indirectly
con¬
nected with the supplying of parts or machinery to the automobile industry.
STOCK.—In 1910 offered to shareholders of record Sept. 5 the privilege
of subscribing at $44 per share for their respective proportions of $15,000,000
of the common stock. V. 104, p. 1296; V. 103, p. 66, 762, 853, 1039. 1040,
1216, 1432.
On May 25 1916 each share of common', par $100, was divided
par $25.
See also V. 105, p. 614.
plan of Nov. 1915 the company paid off at 110 on Jan. 13 1910
che original $4,483,700 preferred stock ana sold at 102H $15,000,000 (of
a new $25,000,000
preferred Issue) of 7% cum. pref. stock (preferred prin.
A divs.), red. at 110 and div. after one year and convertible from Jan. 1
1917 to Jan. 1 1922, both incl., into common stock
The conversion price,
originally $300 per share, has been reduced, owing to the increase in amount
of outstanding stock and the change in par value of single shares (from
$100 to $25), and in Oct. 1917 was $56 32 per share; i. e., $56 32 of
pref.
■tock for each $25 share of common stock.
V. 102, p. 1168.
V. 101. p.
1633; V. 102. p. 257, 350. 443. 528.
In Aug. 1917, for purchase of control of Ourtiss Aeroplane A Motor Corp.,
•old to private interests $3,475,000 7% non-convertible pref. stock, the
purchaser agreeing not to offer the stock for sale Inside one year from Aug. 1
1917; also to Ourtiss interests $1,600,000 6% notes maturing on or before
Aug. 1 1918. with agreement that such notes are not to be sold V tO5.p.820.
The authorized common stock was increased in Mar. 1920 from $50,000,000 to $75,000,060 (V. 110, p. 1328), 600,000 shares being underwritten
by bankers, of which 300,000 shares were offered to stockholders at $20
per share.
The company will set aside anually on or before July 1 1917 and yearly
thereafter for the purchase or redemption
of the pref. stock a fund
equal to 3% of the aggregate amount of same Issued , whether or not then
outstanding.
Without the cohsent of 75% of the pref. outstanding: No
mortgage snail be placed upon the assets; said pref. stock shall not be in¬
creased above said $25,000,000, nor shall any priority pref. stock be Issued,
nor any evidences of debt running more than one year.
Nr voting power
unless four quarterly dividends are in default.
V. 102. p. 159.
Into four shares,
Under
.
DIVID'8.—
Commonstock.
do
1913.
6
extra
1914.
6
__
The Jan. 1921 div.
Ill, p. 2433.
1915.
0
0
on
5 stock
1916.
9
5 stock
,
Feb 1 *18 to Nov. 1 *20
1% quar. (Q—F)
1917.
12
5sto
the 7% cumulative pref. stock was omitted.
Y.
REPORT.—For year ending Dec. 31 1920. see May 28 1921 "Chronicle."
19201919.
1918.
Net income of all companies. _/_
a$8,822,152 x$6,808,737x$l 1,510,645
Deduct—Interest paid
2,114,243
1,471,671
1,198,748
Estimated provision for income tax. j;
(x)
___
„
Preferred dividend
Common dividends
Reserve for depreciation
Reserve for tool displacements
Inventory
(x)
(x)
1,188,710
1,632,732
1,315,654
1,924,100 (4)1,629,858 (4)1,626,891
2,0*2,773
1,894,687
2,457,842
1,675,492
1,707,111
1,317,800
8,420.038
__
adjustment
—.....
Balance, surplus or deficit
def$8,593,204df$l,527,822sr$2,593,716
P. Al.surp. (after various adjust'ts)
$8,136,372 $21,896,510 $26,340,885
a Net earnings
and income of all companies for 1920, before charging
depreciation, but after deducting repairs and maintenance of the properties,
_
bad and doubtful accounts receivable, Ac
^
xThe company in 1918
STOCK.—The First Pref. stock is redeemable in whole
or in part or for
15 days notice into two shares of the
Common stock.
Annual sinking fund for 1st Pref. stock begins in 1921 and
for 2nd Pref. in 1922.
2nd Pref. is callable at 110 after redemption of 1st
Pref.
No mortgage without 75% of the 1st Pref. stock.
Of the Common stock 300,000 shares are reserved for the conversion of
the 1st Pref. stock, at the rate of two shares of Common for each share of
1st Pref.; 250,000 shares are reserved for the conversion of the 2nd Pref.
■Inking fund at 110, Convertible
upon
ing Federal taxes.
no
reported its net income $11,510,645 after deduct¬
The annual Income statements for 1919 and 1920
make
allusion to tax provision.
Note.—In 1919 the company suffered from a serious strike.
"TTlRECTORS.—John N. WiHys (Pres.), W. P. Oirysler (Exec. V.-P,).
Chas. B. Wilson (V.-P ), Jas. E. Kepperley (V.-P.). C. B. Mertz, Edward
F. Swift, Rathbun Fuller, E. R. Tinker, f. R. Harbeck, Elisha Walker.-—
(V. 112, p. 169. 661, 941, 1310. 1407, 1884.)
Date
Par
Outstanding
Rate
see
notes on -page 6]
Value
Amount
%
Payable
$5
Q—F
Q—J
Wilson 6c Co Inc—Common stock authorlred 600.000
Pref stk (» A d) 7% cum, red all or part at 125, also sk
None 202,500shrs
shrs
fd—
Qc*Ar*
1st M s fd $25,000,000 gold call 107^
Convertible bonds $20,000,000 call sfd
1918
O.c*
.
A d) cum $10,000,000 red 115-—-non-cumulative *10.000.000
Winchester R A Co 1st mtge redeem 10714
(P W) Wool worth Co—Common stock
Pref stock (a Ad) 7% cum red
125
Worthlngton Pump 5c Mach. Corp.—Com stk $15,000,000
Pref A stk 7% cum $10,000,000 call 115 & dlv text.
—
Pref B stk 6% (cum 1919) $11,000,000 call 105 & dlvs
Holly Mfg Co 1st M (new) guar p A 1, call par
First preferred 7% (a
Recond preferred 6%
•
.
jtm 4
in7192§
100
..
100
100 x$12452149 See text
100
5.592,833 7 In 1920
100
10.321.671 6 in 1920
1916
100 Ac.
Dec.
31
*20 Mua Me to
^
p.
Justice Wendell P. Stafford of the District of
1
_
Columbia Supreme Court on
1921 accepted the company's plan for disposal
The company will place its holdings in the
company to
702; Y.
be disposed of in 30 months.
108, p. 85.
no vote except in case of default in payment of dividend
V. 97, p. 527; V. 91, p. 1714.
The voting trust for the com
111, p.
July 1920.
V. Ill, p. 506.
In March 1916 contro
acquired by purchase of a majority of the common stock by a grout
Preferred has
for
one year.
mon
was
stock expired in
of bankers.
A sinking fund to retire each year at not over 125
pref. stock outstanding on preceding Dec. 31.
DIVIDENDS.—Divs.
on
and dlvs., 2% of tb»
stock Nov. 1 1919;
BONDS.—In 1916
an
to Nov. 1920.
V. 112, p. 271.
issue of $25,000,000 1st M. 6% bonds was author
Ized; $15,000,000 were sold in that year and $5,000,000 in 1918. The re
mainder Is reserved to provide for 75% of the cost of future betterment!
and extensions and to pay prior liens on properties at the time subject tt
the mortgage or owned by companies a majority of whose stock Is pledger
thereunder.
Annual sinking fund beginning 1917, 1% of bonds outstand¬
ing, to retire bonds which are to be kept alive in sinking fund.
Prior U
Apr. 1 1921 $853,000 of the issue had thus been retired, leaving $20,184,683
outstanding.
V. 108. p. 1299. 180: V. 107, p. 910.
The $20,000,000 6% convertible bonds of 1918 (V. 107, p. 2195) are sub
Ject to call June 1 1919 at 105% and int., thereafter at 105% and int. les>
K of 1 % for each year, or part thereof, elapsed after June 1 1919.
Sinklm
fund, $1,500,000 annually on each March 1, 1921 to 1925, both incl., anf
$2,000,000 annually 1926 to 1928, both Incl. (less credits for bonds con
verted), to bd applied to the retirement and cancellation of bonds.
Thes«
bonds will be exchangeable from and after Dec. 1 1920 at option of ho!de>
at any time prior to maturity (or up to 30 days of redemption date) int«
common stock at rate of 10 shares for each $1,000 bonds, with cash ad
iustment of interest and dividends.
The basis of exchange will be adjustec
in certain cases if additional common stock Is issued (other than in exchangt
for these bonds); but In no event will the exchange be made on a basis oi
less than ten shares for each $1,000 bond.
While any of these bonds ar«
outstanding no new blanket mortgage can be made, the quick assets must
not fall below 1
times the current liabilities or the amount of these bond*
outstanding. V. 108, p. 2248
Notes payable, Dec. 31 1920, $21,762,140.
112, p. 1140, showed:
1918.
1917.
$400,000,000 $225,000,000
$5,165,888
$8,563,911
$7,408,172
2,394,562
932,376
903,750
REPORT.—For calendar year 1920. in V.
1919.
Calendar Years—
1920.
Sales
Net profit
Interest
Preferred
$1,486,382
2,427,232
750,711
1,000,000
dividends
Common dividends.
733,348
733,293
750,000
do
Apr 1 1921 IK
115 Broadway. N Y
A
J Jan
i 1999
Girard Trust Co. Phila
MAN Nov 1 1922
V.106.
Ac
o
1224
713,188
sur. or
def.def$2,691,561 sur$l ,288,032sur$6,898,187sur$5.791,234
$16,335,703
$21,027,264
$19,789,232
$15,051,045
Profit A loss, surp..
OFFICERS.—Pres., Thomas E. Wilson; Vice-Pres'ts, George H. Cowan,
A. E. Petersen, J. Moog, A. Lowenstein and V. D. Skipworth; Sec., George
D. Hopkins; Treas., W. C. Buethe.
Office, 816 First Ave., N. Y.—(V.
112, p. 169, 271. 571,661,753,856,941,1032,1140,1172,1310,1749,2092.)
(C. R.) WILSON BODY CO.—(V. 112,
p.
WOOLWORTH CO—ORGANIZATION .—Incorporated
In
Acquired the business of F. W. Woolworth A Co.,
E. P. Charlton A Co.. the 5 and 10
cent store business of 0. S. Woolworth, W. H
Moore and W. H. Moore A
Son and the controlling interest in F. W. Woolworth A Co.. Ltd., of Great
Britain.
U.
In
and
8.
Jan. 1921 was
Canada.
The F.
stores in
90
operating 1,111 5 and 10-cent stores in the
W. Woolworth A Co. (controlled) operates
449; V. 107. p. 2482.
See V. 94, p. 567; V. 97, p.
England.
mortgage or encumbrance shad be created without the
three-quarters of each class of stock, nor the pref. stock
without the consent of two-thirds of each class
The whole or
STOCK.—No
consent of at least
Increased
part of the pref. stock is redeemable on 3 months' notice and will be
entitled to 125 and accrued dividend in case of liquidation or dissolution
The pref. stock has no votingpower exceDt in case of default In payment of
three quarterly dividends.
V. 94, p. 567.
Pref. stock auth. and issued,
(Dec. 31 1920) $15,000,000: retired and canceled, $3,000,000: in treasury
Dec. 31 1920 for retirement, $2,424,300; outstanding, $9,575,700.
The stockholders on May 19 1920 approved an increase in common stock
from $50,000,000 to $100,000,000 and the payment of $15,000,000 of the
Increased stock in the form of a 30% stock dividend to common shareholders
June 1 to stock of record May 1.
The remaining $35,000,000 increased
stock will be kept in the treasury for future development and further stock
dividends as surplus warrants.
The plan to reduce the authorized pref
stock from $15,000,000 to $12,000,000 was approved, 30,000 shares being
any
retired and canceled.
1912.
1913.
1914. 1915.
1916.
1917 to June 1921.
2%
5H
6
6*4
7H
8% p. a. (2% Q.-M.)
stock dividend of 30% on June 1 1920.
DIVIDEND'S.
On common...
Also
paid
a
SALES.—
1920
-
1919.
REPORT.—For calendar year
October.
10 Months
$13,242,233 $106,970,020
10,742.643
89.124,660
1920, in V. 112, p. 648, showed:
1920.
1919.
1918.
1917.
1,111
1,081
1,039
1,000
$140,918.981$119,496,107$107,179,411 $98,102,858
Net income
9,775,252 *10,361,557
x7,088,716 x9,252,349
Preferred dividend—...
857,500
875,000
875,000
892,500
Common dividends.....
4,600,000
4,000,000
4,000,000
4,000,000
No. of stores Dec. 31...
Net sales.....
Stock dividends (30%)—
15,000,000
pref. stock, Ac.
100,821
Prem.
on
—
Balance, surplus..def$10,783,069
Federal taxes paid
Not shown
$5,486,557
932,121
.def$10,783,069
WINCHESTER COMPANY.—ORGANIZATION.—Incorp. in Conn.
April 17 1919 to take over in the first instance the stock of the Winchester
Repeating Arms Co. [see supplement of Nov. 2 1919] deposited under the
plan of reorganization as outlined in V. 107, p. 1751. 2195, and eventually
the property itself with a view to diversifying the business so as to make use
of the large war Investment. Important financial interests also becoming
with the management.
The company has undertaken the
development of 25 distinct lines of new products, such as axes, hammers,
fishing rods, roller and ice skates, flashlights, Ac., and has opened nine retail
stores in Eastern cities.
Has purchased a third interest in the LiggettWinchester-Ley Realty Corporation.
Y. 108, p.1733, 2029.
DIVIDENDS.—Initial div. of 3% on 2nd pref. stock was paid April 15.
1920; same amount paid Oct. 15 1920 and April 15 1921.
identified
BONDS.—The first mtge. 7% bonds of the Winchester Repeating Arms
Co. have an annual sinking fund of 2% of the bonds issued to be purchased
at or under par and interest.
V. 112, p. 1407.
1920, in full, in V.
112, p.
1032, showed: Total net
earnings after depreciation, $1,085,916; proportion applying to stockholders
of W. R. A. Co. other than Winchester Co., $37,233; first pref. div. (7%),
682.829; 2d pref. div. (6%), $120,000; bal., sur., $245,854.
Dec. 31 1920, $9,925,000.
$2,213,716 $4,239,832
1,232,209 (see"1918")
$4,554,436
Surplus
120,016
—
_—
$981,507
$4,239,832
Note.—"Net income" in 1917 and again in 1918 is shown subject to
deduction for the Federal taxes payable on account of the earnings of each
x
The tax for 1917 paid In 1918,
against the balance surplus for 1918.
it will be observed, is
"Net income" in 1919 is after deducting reserve
of $2,150,000 for Fed¬
respectively.
year
*
eral taxes, contingencies, Ac.
OFFICERS.—O. S. Woolworth. Chairman; H.
T. Parson. Pres.; F. M.
Nutting. B. D. Miller, V.-Pres.: C.
Treas.—(V. 112, p. 169, 271, 648, 661, 1038, 1525,
Kirby, E. P. Charlton, J. F.
tine, Sec. A
F. Valen¬
2205.)
plan of 1919. V. 108. p. 1065, 142$
WORTHINQTON PUMP AND MACHINERY CORPORATION.ORGANiZATION.—Incorporated in Virginia on April 21 1916 as a re¬
organization of the International Steam Pump Co., foreclosed per plan in
V. 101. p. 631, 620, 926; V. 102, p. 1890: V. 104, p. 1384.
Properties April
1916, V. 103, p. 139.
War orders 1917, V. 105, p. 2100; V. 106. p. 1224.
In Sept. 1919 purchased the plant
patterns. Ac., of the Epping-Carpenter
Pump Co., Pittsburgh.
The plant is operated as th* Epning-Caroenter
Works.
V. 109, p. 1280.
Acquired complete control of the plant at
Hazleton, Pa., in April 1921.
V. 112, p.1749.
STOCK.—The five-year voting trust expired on April 1 1921.
V. 112,
WORLD FILM CORP.—Financial
p.
1407.
pref. stock is entitled to cumulative annual dividends at 7% and
preference in assets and dividends over common stock; It is redeemable
option of company at 115 and accrued dividends.
The Class B pref.
stock Is entitled to annual dividends at 6%, cumulative after April 1919.
and to a preference in assets and divs. over the common stock, and is
callable at 105 and divs.
With the Apr. 1 1920 payment, the Class B pref
stock came to a parity with the Class A pref. stock as u> assets and divs .
except that the rate of dividend remains at 6%.
On Dec. 31 1920 $4,407,167 Class A stock was reserved for additional
Class A
to a
at
capital to be Issued only for cash at not less than par; also, for additional
capital, $678,329 Class B and $2,007,851 common stock;
while $540,000
common stock (balance of $1,500,000) was reserved under reorg
plan to
enlist aid of new interests
DIVIDENDS.—On Class A, July 1 1916 to Apr.
1 1921. Incl.. 1 H%
(7% p. a.)
On Class B, July 1 1917 to Apr. 1 1921. incl.,
See V 104, P- 2562.
Initial div. on common stock of 1 K%
paid April 15 1920; same amount paid quar. to April 15 1921.
quar.
quar.
was
Guarantees
1K%
<juar
of two-thirds of each class of stk
principal and interest of Holly Mfg. Co. 1st 5s.
in V. 112, p. 1277, shows:
REPORT.—For calendar year 1920,
1919.
1920.
1918.
$27,924,745 $32,074,592 $43,443,486
$2,355,858 $5,284,105 $7,630,686
Int., adjust, of foreign invest't, Ac..
24,935
27,041
492,012
Federal taxes
300,000
2,000,000
4,000,000
Divs. on Class "A" pref. stock (7%).
391,498
391,498
301,408
Divs. on Class "B" pref. stock (6%).
619.300
619,300
619,300
Billings to customers
Gross
income.
-
169, 478.)
WINCHESTER REPEATING ARMS CO—See Winchester Co. below-
REPORT.—For
New Haven,
Knox A Co., F. M. Kirby A Co.
BONDS.—No mortgage except on vote
Bal.,
J. E. Otterson, Pres.; D. W.
W.)
(P.
here charged
In March 1921 paid 1 *4% in common stock.
do
New York Deo. 15 1911.
S. H
pref., 1H% <iuar., paid to April 1 1921, incl.
Initial div. of $1 25 paid on common
$1 25 quar.
do
IH
Weeks, V.-Pres.; R. E. Anderson, Sec. A Treas.
Main office,
Conn.—(V. 112, p. 1032, 1172, 1277, 1407, 1525, 1749.)
of its stock yards
hands of a trust
V. 112, p. 941, 1310.
STOCK.—In Aug. 1918 the company was recapitalized.
In place or
$20,000,000 authorized common stock in $100 shares, all outstanding, there
was created 500,000 shares of no par value, of which 200,000 shares were
issued forth with, in exchange share for share for the old common.
Ir
place of the $12,000,000 old 7% cum. pref. stock, $12,000,000 new 79!
cum. pref. stock was created with similar rights: of this $12,000,000 therehas been retired through sinking fund $1,281,100.
V. 107, p. 187, 612
March
5
Into
n<*w
£3
Farmers' L A Tr Co. N i
2
Apr 15 1921 IK New York
New York
Apr 1 1921 1H
OFFICERS.—T. G. Bennett, Chairman;
2364.
interests.
of
Q-J 15
J
5
290,300
200.000
list, aid
April 7 1910lin N. Y.
Capltallzatlox
readjusted in Aug. 1918 without reincorporation.
Established in 1853
Name was changed from Sulzberger A Sons Co. to Wilson A Co., Inc., ir
1916.
V. 102, p. 1255: V. 103, p. 417; V. 108.P. 1299.
Has large and modern plants In New York, Chicago and Kansas City
and, through subsidiary cos., owns and operates plants at Oklahoma City
Sioux Falls, S. D.,Los Angeles, Cal., Albert Lea, Minn., Nebraska City
Neb.; Wheeling, W. Va.; Phila., Baltimore, Cedar Rapids, la., Chatham
Ont., Sao Paulo, Brazil and Buenos Aires, Argentine.
Combined capacity
of present plants about 187,000 cattle, sheep and hogs per week.
Com¬
pany has, either directly or through subsidiary companies, all of whose
stock it holds, 120 distributing branches by means of which and of its
refrigerator car service it distributes its products to practically every cit1
and town of importance in the United States.
Also does a large export
trade.
Equipment in Dec. 1920 was as follows: 1,946 refrigerators, 108
tank cars and 269 stock cars, all operated under the name of the Wilson
Car Lines.
V. 91. p. 981, 1714; VV 90, p. 1048; V. 94, p. 491: V. 105, p.
723.
In 1918 purchased additional Chicago property for $200,000, subject
to a purchase money mortgage for $100,000.
V. 106, p. 1809. Federal
Trade Commission, Ac., V. 107, p. 187, 612, 1583.
In Oct. 1920 acquired
control of the Globe Soap Co. (V. Ill, p. 1668.)
Acquired the business of
D. B. Martin A Co. in July 1920 and organized the Wilson-Martin Co.
V.
Ill, p. 400, 506, 996.; V. 112, p. 856.
In Dec. 1920 formed the Phoenix
Leather Co. V. Ill, p. 2532.
Reported in March 1921 to have leased the
Midland Tacking Co., Sioux City, la.
V. 112, p. 1172, 1310.
In Aug. 1919 sold its grocery, packing, vegetable and fishing business t«
the new Austin, Nichols A'Co., Inc. (V. 109, p. 379, 586, 895), each share
holder of 5 shares of Wilson common being permitted to subscribe at $2/
a share for 2 shares of new Austin, Ac., stock.
V. 109, p. 379. 586. 895
The "Big Five" Packers, In Dec. 1919, agreed to the entering of a decre»
In the Government suit requiring them within two years to give up theh
stock yards and other outside Interests (except their handling of eggs
butter, poultry and cheese, which Is left for future consideration) and it
general to confine their operations to the wholesale meat business.
V. 109
WILSON & CO., INC.—Incorp.
Payable
314
3%
2.000.000 6 in
Jeanesvllle Iron Works Co 1st M
Excludes $540 OOP held In treasury
A
are
1H Checks mailed
New York A Chicago
New York City
Apr 1 1921
O Apr 1 1941
D Dec 1 1928
A
Dividends
New York
See text
9.754.700 7 In 1920 A A O 15 Apr 15 1921
text
Apr 15 1921
1920
A
A
O Apr 1 1941
7,000,000
Juie 1 1921
Q-M
65,000,000 8
7
July 1 1921
See text
100
100
100 &c
1921
A
J
6 g
6 g
Places Where Interest and
and Maturity
1.000.000
100
Winchester Co—Common stock $10.000.000
7
$100 $10,718,900
1.000 Ac 20,184,683
19,434,000
1,000
Dividend
Last
When
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c.,
x
[Vol. 112.
INDUSTRIAL STOCKS AND BONDS
246
Bank loans
(6%)747,129
Divs. on common stock.
Balance
-
—
$272,996
--------
--------
1,500,000
Transferred to reserve
I,2b7,oo4
$746,266
$859,611
31- $4,625,734 $4,352,738 $3,606,472
$9,724,011 $8,784,542 $26,161,859
DIRECTORS.—G. P. Coleman (Pres.), Charles H. Sabin. A. W. Burchard, Elisha Walker. Edward H. Wells, Lewis L. Clarke, T. Frank Manville, R. Walter Leigh, Harrison Williams. J. E. Sague (V.-P.), L. F. Roth¬
schild. Percy Jackson. H. Esk Moiler.
Tbe Secretary is O. N Barney:
Treas., W. H. Baumes.
N. Y. office, 115 B'way.—(V. 112, p. 1038, 1277.
profit and loss surp. Dec.
Unfilled orders Dec. 31
Total
—
1310, 1407, 1525,
1749.)
CORP.—(V. 108. p. 282. 2249;
1707: V 110. p. 175.)
JR., CO.—(V. 112, p. 856.)
MFG. CO., STAMFORD, CONN.—(V. 112, p. 478,
WRIGHT-MARTIN
AIRCRAFT
287. 788. 1187. 1374. 1615.
V. 109. p.
WM.
WRIGLEY,
YALE & TOWNE
1038,
1172,
1310.)
YOUNGSTOWN SHEET & TUBE
VIIKON
GOLD
CO..
CO.—(V. 112, p. 753, 1172, 1884.)
NEW YORK.—(V.
112, p. 1749.)
May, 1921.]
INDUSTRIAL
STOCKS AND
BONDS
347
ABBREVIATIONS USED IN THIS SECTION
EXPLANATORY.—'This Supplement la expressly intended for
week in the "Chronicle."
may be found.
use
In connection with the investment
Frequent reference is made therefore to the volume and
Following each statement also is given
a
reference to the latest
page
news
news
and official reports published from week to
of the "Chronicle" (as V. 112,
p.
000), where fuller information
item in the "Chronicle" respecting the
company.
item has appended a reference to the last preceding item, the reader can run back at
pleasure.
Annual reports
are
As every such
in black-faced figures.
Index.—Any
company not in regular alphabetical order may be found by means of the index, on another page, to roads leased and consolidated.
Dividends.—The dividends ("divs.") in the text are in general those actually
paid during the calendar years named, irrespective of when earned,
Net Earnings are given after deducting operating expenses and frequently taxes, but not interest or other fixed charges.
Securities.—These
are
described in table at head of page (except the stock, for lack of space, sometimes only in text
below) as follows:
Miles of Road.—Opposite bonds, this means the miles of road owned covered by the mortgage.
Size or Par Value.—Shows (in dollars unless otherwise marked), the denominations or par value, "100, Sec.," signifying $100 and
larger.
Rate Per Cent.—The interest and dividend rate per annum is here shown; g, gold; cur, currency; x, extra; s, stock or
scrip.
When Payable.—J & J stands for January and July; F & A, February and August; M A 8, March and September; A & O,
April and October; MAN.
May and November; J & D, June and December; Q-J, quarterly from January; Q-F, quarterly from February; Q-M, quarterly from March.
Bonds, Principal When Due, &c.—This column shows for bonds the date when they mature; for stocks the amount and date of the last dividend
paid or
declared.
Other Abbreviations: M for "mortgage"; Gen M for "general mortgage"; Oon M or consol M for "Consolidated mortgage"; inc M for
"Income mortgage"
g for "gold"; c or cur for "currency"; guar p A i for "guaranteed principal and interest"; cum for "cumulative"; non-cum for
"non-cumulative"; conv
for "convertible into stock at holder's option"; pref for "preferred": pref a & d for "preferred as to asset3 and dividends"; s f for
"sinking fund"
lgr for "land grant"; r "fully registered (no copuons)"; c "coupon"; c* ''coupon, but may be registered as to principal"; r* "registered" and
"coupon"
interchangeable; br "branch"; end "endorsed ; red "redeemable"; dr'n or drawn; by lot call, ''subject to call"; p m "per mller; ass'd, "assumed."
Taxes.—The position as regards deductions for taxes (deductible at source) is indicated in the table as follows: "x" The bonds so marked contain the
broad tax-exemption clause that the company will pay the interest thereon without deduction for any tax.
The Federal Acts approved Oct. 3 1917
and Feb. 24 1919 provide, however, that only one normal 2% income tax shall be deducted at the source and that all further Federal income taxes
shall be met by the recipient of the income.
See V. 108, p. 521.
xx "Company was paying at last advices so much of the normal income tax as com-
Sany U.required to tax up to 4%, deductible at source. p. y699). xxx "Free from U. Federal Income tax." 2%, deductible all taxes except Federal
is S. income deduct as withholding agent (V. 104,
at source." xxxx "Free
"Free from taxes except 8. Income tax up to yy "Free from
•om
and State income tax."
i "No provision as to
exemption from taxes."
zz "Payable with deduction of normal Federal income tax."
k 'Tree from
Pennsylvania State tax."
kk "Free from New York State tax."
v "Free from U. S. taxes, deductible at source."
w "Payable without deduction
for taxes, except succession, inheritance and income taxes."
vw Payable without deduction for Federal. State, Ac., taxes deductible at source other
than Federal 2% income tax.
wvv Same with the exception also of inheritance taxes,
vvvvv Payable without deduction of U. S. (or Governmental)
taxes other than successive inheritance and income taxes.
'
,
Mortgage Trustees and Stock Transfer Agents (TR Treasurer's Office)
NEW YORK CITY—
Ba —Bankers Trust Oo
Ce —Central
Union Trust
Co
Col —Columbia Trust Co
Em —Empire Trust Co
Eq
P
G
Me
—Equitable Trust Co
—Farmers* Loan 8c Tr
—Guaranty Trust Co
Trust Co
—Mercantile
Mp —Metropolitan Trust Co
N
—New York Trust Co
T
—Title Guar 8c Trust Oo
Us —United States Trust
Usm—U S Mtge 8c Trust Oo
BALTIMORE—_
BBa —Baltimore Trust Oo
CoBa—Continental Tr Co
EBa —Equitable Trust Co
FBa —Fidelity Trust Co
MBa —Maryland Trust Co
MeBa—Mercantile Tr 8c Dep
SBa
—Safe Dep 8c Trust Co
NC
PC
—Peoples Tr & Sav Bank
BOSTON—
AB —American Trust Oo
SC
—Standard Trust
BB
—Boston Safe Dep 8c Tr
UC
—Union Trust Oo
CB
—Commonwealth Tr Co
—Federal Trust Co
FB
IB
NB
OB
SB
UB
—International Tr
Co
—New England Tr Co
—Old Colony Trust Oo
—State Street Trust Oo
—United States Trust Oo
CHICAGO
CeC—Central Trust Oo of III
ChC—Chicago CityBk 8c Tr
CC —Continental 8c Com¬
mercial Tr 8c Sav Bank
—First Trust 8c Sav Bk
HC —Harris Tr 8c Sav Bank
Dearborn
Tr 8c
FoC—Fort
FC
Sav Bank
IC
—Illinois Trust 8c SavBk
MC —Merchants' Loan 8c Tr
—Northern Trust Co Bk
8c Sav
Bank
CINCINNATI—
UCi—Union Sav Bank 8c Tr
CLEVELAND—
CC1 —Citizens' Sav A Tr Oo
CI CI—Cleveland Trust Co
FC1 —First Trust A Sav Bk
GC1 —Guardian S Bk A Tr
DETROIT—
DD
,
are Indicated thus:
—Detroit Trust Oo
SD
—Security Trust Oo
UD —Union Trust Oo
INDIANAPOLIS—
UI
—Union Trust Oo
LOS ANOELES, CAL—
LLo—Los Angeles Tr A Sav
Bank
SLo —Security Tr A Sav Bk
LOUISVILLE—
PL —Fidelity A Oolumt Tr
LL —Louisville Trust Oo
NEWARK. N J—
FN —Fidelity Trust Oo
NEW ORLEANS—
H N o —Hibernia Bk 8c Tr Oo
WNo—Whitney Central Tr A
Sav Bank
PITTSBURGH—
ClPi -Colonial Trust Oo
CwPI—Commonwealth Tr Oo
DPI —Dollar Sav A Tr Oo
FPI—Fidelity Title A Trust
PPI —Pittsburgh Trust Co
PI —Union Trust Tr
5PI —Real Estate Oo Oo
PORTLAND, ME.—
FPo—Fidelity Trust Oo
PROVIDENCE—
IPr
—Industrial Trust Oo
Pr—Union Trust Oo
8Pr —RhodelslHospTrOo
ST. LOUIS—
Am St—American Tr Oo
MeSt —Mercantile Trust Oo
MSt —Mississippi Valley Tr
SSti
—St Louis Union Trust
PHILADELPHIACP
—Commercial Trust Oo
FP
—Fidelity Trust Co
QP —Girard Trust Oo
GuP—Guaranty Tr A 8 Dep
MP
—Merchants Un Tr Oo
PhP—Philadelphia Trust Oo
PIP —Provident Life A Trust
PeP —Penn Oo for Insur on
Lives A Gr Annuities
RP —Real Estate T AI Oo
WP —West End Trust Co
SAN FRANCISCO—
AS
—Anglo California Tr Oo
MS —Mercantile Trust Oo.
US —Union Trust Oo
WILMINGTON, DEL.
WW—Wilmington Tr
[VOL. 112.
BANKS-TRUST COS-INSURANCE COS-
348
NEW
YORK
AND
(9) See V. 109, p. 2409, 2326, 1243.
1920 and 1921 to date.
1919 and
BANKS.
BROOKLYN
Bank on Dec. 17 1920 authorized
(10) Stockholders of the Corn Exchange
Capiiai
Surplus
Par
Amount.
a
profits,
5,500.000
5,000.000
Exchange 100
(17)Am.Un.a 100
Am
100
1,500,000
Bigelow St'eo 100
100
Bowery, a
Bway Cent_a 100
1/200,000
200,000
100.000
250,000
Bronx Bor.a. 100
150,000
200,000
200,000
100
...
Bryant Parka 100
25
Butch &Drov
Cent
Chase
Merc.a 100
100
100
100
City
City Co. Nat. 100
Coal & Iron. 100
100
Colonial.a
Columbia a_. 100
__
Commerce
100
__
(19)Com'l Ex 100
Comm'w'la.. 100
Continental
100
a
CornExch.a. 100
Cosmopol'n a 100
Cuba(inNY)a 100
River.. 100
100
Europe a
East
Fifth
100
...
Fifth
Ave.a. 100
First
100
First Security 100
100
Garfield
100
Gotham
'20.
6
l
Apr.
'21.
3j
I
V. Ill, p.359
Jan.'21 6(14)
V. 112,
,
i
p.440
May'21 6(15)
V. 98, p.1580
July
'15.
5
Jan.
'21.
5
i
Jan.
'21.
5/
;
{/500.000
200,000
15,000,000
7,000,000
1,000,000
4,500,000
(13)40000000
10,000,000
1,500,000
1,505",400
600,000
1,589,500
2,000,000
1,589,500
26,000,000 33,149,900
(19)700000
1,022,000
400,000
828,600
1,000,000
772,000
(10)7,500,000 9,772,800
1 200,000
65,900
100,000
104,800
1,000.000
777,500
(22)150000
320,400
1,000,000
731,700
500,000
2,374,600
10,000,000 35,434,100
10,000,000
1,000,000
1.585.500
(18)1,500,000 1.617,700
Chat & Phe'x 100
Chelsea Ex_a 100
Chemical
Oct.
!
Jan. '21.
;
16
i
'21.
4
4
'21.
'17.
Apr.
i
3
'21.
4
Apr. '21. oo
Aim. '21.
2
(Apr. '21.
3
Apr.'21. 3(3)
May
22 X
i
16**0
t
3^
Dec.31'20. 6/
Apr.
Apr.
i
16
None
8(1)
12k
15 s
i
Dec.31'20.
'
10/
13/
6/
Apr.
'21.
3
Jan.
30 i
'25.
5
Jan.'21.2(12)
Feb '21.
3 Yz
10
7
20
May
'21.
5
12
Jan.
'21.
9M
Jan.
'21.
6
7%
54 p
20
%
increase capital from $25,000,000 to
ratified plans to
(15) Paid in Feb. 1921 3% regular and 7% extra;
(20)
(21) Conversion of Progress Bank from a State to a na¬
Oct. 7 1920.
Capital to be increased
tional institution became effective
on
or
110,
V.
about Feb.
Apr. 1 1921; V. 112, p. 995, 622.
100
100
a.
100
Hanover
100
Harriman
Industrial
100
a.
Imp. & Trad. 100
Internat'l
100
a_.
Liberty.
100
100
Manhattan, a
50
Irving
(26)
_
Mech & Met. 100
Metropolit'na 100
Mutual
100
a
Amer._ 100
New Neth.a. 100
100
New York..
Nat.
500,000
1,000,000
3,000,000
1,000,000
1,000,000
1,500,000
500,000
12,500,000
5,000,000
5,000,000
10,000,000
2,500,000
200,000
1,000,000
600,000
1710, 530.
(25) Stockholders to vote May 24 on increasing capital
from $200,000 to $250,000; V. 112, p. 2158(26) On Mar. 28 1921 stock¬
Apr.
'21.
3
Surplus
200,000
100
1,000,000
100 10,000,000
Park
100,000
Peop Com'l a 100
100 (21) 406,000
Progress a
100 (23)3,000,000
Public
100 (24)3,000,000
Seaboard
100
a..
1,000,000
100
Second
100,000
2,500,000
100
a
23d Ward.a. 100 (25)200000
Union Exch. 100
1,000,000
125,000
Union Lib.a. 100
J
&
980,100
1,933,500
Pacific, a
State
J
32
J
&
10 Jan.
10
Beg.bus Dec.
22'19
J
J&D31
6
&
18
J
20
15m
Q-J
302
Beg.bus Apr.
7Q
Q—J
23 s
Q—J
J
J None
A
Beg.bus .Sep.
16(8)
8-1
342
Beg.bus Dec.
Beg. b us. S
16
Q-M 31
Q-J
12
Q—J
21 h
J
&
&
12
&
'21.
12 Apr. '21.
1920
A
None
440,500
100
200,000
731,500 Q-M 31 40(16
Coney Isl'd.a 100
200,000
151,400
828,300
17,600
312,600
147,300
a.
3
Commercial
.
Corporation
Empire
Equitable
.
Farm L & Tr
Fidelity-Int
_
Fulton
Guaranty
...
Hudson
ItalDisc&Tr
LawTitle&Tr
Lincoln
Mercantile
_
Metropolitan
NYLifel&Tr
j New York..
U 8 M &Tr'st
6
Apr. '21. 2Vi
12 Apr.
'21.
<30 Mar.31'21.
Q—J
1,500,000
100
United States
12*20 V.110, p.738
Beg.bus
Q—J
688,600
531,500 Beg.bus .Jan. 27T9
100 20,000,000 19,502,700
Columbia
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
5,000,000
m
1,000,001}
500,000
2,000,000
12,000,000
5,000,000
1,500,000
500,000
25,000,000
500,000
1.000,000
4.000,000
2,000,000
1,000,000
2,000,000
1,000,000
3,000,000
20 Apr.
25
Q—J
22 Apr.
22
Q-J
020 Mar.
020
7,610,300 Q—M30
498,300 Beg.bus Nov. 1906.
10 22X Mar.
226.000 Q—M30
J
'21.2
612 Jan.
'21.
20 Mar.
610 Mar.
'21.
20
10
t
10
«,
6
16
Q—M31
Q—M3i
Q—M31
J
50
•
-
-
15
32
32 Mar.
'21.
8
<25
24
20 Mar.
'21.
*21.
5
'21.
25
1
1
24 Apr.
50 Jan.
2,752,800
(0
2,856,800
Q—J
Q—F
30
2,081.500
Q-J
12
100
2,000.000
100
500,000
5
Peoples.
lioo
1,500,000
'21.
6
'20.
56
28 May
8 Apr.
614
O-F
6
630 Apr.
614 Nov.
f25
500,000
500,000
_
2
4
'20.
1.500,000
Mid wood
'21.1 Y
'21.1 Y
'21.
100
3
5
*21.2 Y
5
22 Mar.
100
(Hamilton
76
45 Dec.
Kings County 100
Brooklyn
5
&
'21.
Apr.
-
3
4
'21.
Dec.
-
5 Apr.
4 May
5
25
&
»
68
J&D
J
'21.2
oil Mar.
Q—J
Q—M31
1,133,800
3.438,700
2,406,600
11,589,100
6,000 000 12,314.800
5,053,500
2,000,000
2,000,000 15,095,000
4
'21.
10
612
Q—M31
722,800 Q—M31
781,200 J&D 30
6,157,500
Q—J
Q—F
1,108,700
5
'21.5^
20
*16
J
&
'21.
/17 Mar. '21.
/25 Mar, *21.
20 May *21.
el9
Q—M30
Q—M30
Q—F
Q—M31
1,828.600
16,077,800
11,403,600
1,619,400
670,800
37,727,300
Brooklyn.
Manufac'rs
%
%
100
3
6 Feb.
'21.
5
10 Dec.'31'20. 5
J & P 31
paid.
$
Cent Union.. 100 12,500,000 18,548.500
Title Gu & Tr
*21.
Period. 1920. 1919. Last
Feb. 28 '21
$
American
3
6s
8 Jan.
100,000
Yorkville
'21.
A mount.
$
Jan.21.4^(6)
1,600,000
a
Apr.
Pat
New York.
Bankers
12
12 Apr.
J
F
8s
'21.
See note (9)
20 Mar. '21 4H
/20 Apr. '21.
6
19 Apr.
'21.
5
10 Apr. '21.2 Y*
20 Apr.
'21. 5 §
21*20 V.110,p.1717
8 Apr.
'21.
2
d25 Apr.
'21.
5
None Apr.'21. 1Y
30'20 Vlll,p.l341,126o
(8)16 May '21. 4/
d33 Apr.'21. 6(5)
15*20 V.lll,p.2486
ept.8 *19 See (21)
12 Mar. 31*20. 4
J
J
3
8
6 June30'20.
12
24
100
Wash
Dividends paid in 1919 and
and also last dividend.
profits on
4
24 Jan. '21.
24
J
'21.
'21.
'21.
8 Feb.
sl9 Apr.
32 Apr.
8
18n
\-i
H'ts.a 100
Un'd States
&
undivided
Capital,
Companies.
Ill,p.2485.
TRUST COMPANIES.
BROOKLYN
AND
YORK
NEW
ratified the plans for the
V. 112,p. 1364,994, 901; V.
of the two institutions.
merger
Mar. 31*21.5
13/
20,950,700
2,277,200
557,200
8,848.100
(11)
11,089,800
(26)
17,135,400
16,812,300
4,281,000
790,300
505,000
650,300
7,186,300
472,500
107,400
1,726,000
23,258,200
35,100
67,600
3,541,000
4,949,100
4,814,400
120,100
2,718,300
177,700
1,582,300
32,700
2,000,000
1,000,000
N. Y.County 100
Nor. Amer.a 100
Standard
$1,000,000 to $3,000,000; V. 112,
1921 authorized increase in capital from
p.
market val.
Co.a
&
$450,000;
$3,000,000,
(24) Stockholders on Mar. 3
Capital to be increased from $150,000 to
(23) Capital increased from $2,000,000 to
112, p. 2051.
effective
V. Ill, p. 856; V.
$400,000.
1921 from $200,000 to
1
(22)
2541.
p.
15i
Jan.
15s
effective June 7 1920;
Capital increased from $100,000 to $200,000,
V. 110, p. 2454.
holders of the N. Y. Trust Co. and Liberty Bank
301
$40,000,000; V. Ill,
(14) Includes extra div. of 3%.
in May 1921 3% regular
and 3% extra.
(16) Includes extra div. of 20%.
(17) Began business
Feb. 10 1917 as the John Nemeth State Bank; name changed to Nemeth
State Bank and again changed Feb. 10 1921 to the Amer. Union Bank.
(18) .Increase in capital from $500,000 to $1,500,000 voted Apr. 8 1920,
became
effective
Oct. 1 1920;
V. 110, p. 1611.
(19) Capital increased
from $200,000 to $700,000, effective Nov. 27 1920.
Also converted from
a State to a national institution as of Apr. 27 1921.
Y. 112, p. 1710, 1108.
1151, 855, 464, 264; V. 110, p. 2455.
p.
Grace(W .R.)
Greenwich
year.
(13) Stockholders of Nat.
M. & N. to J. & J.
Dec31'19.2^
Apr. '21 2 M
Apr. '21.
6
Apr. '21. 10
*21.
special div. of 2% in con¬
Dividend periods changed from
City Bank on Aug. 26 1920
(12) Paid in Jan. 1921 a
359; V. 110, p. 2627).
nection with the change in fiscal
6
"
None
Trust Co. stockholders voted in July
of the Fidelity Trust Co. (see V. Ill, p.
1920 to consolidate under the name
'21.
3
/14 May'21 3 y2w
30 Apr.
I
2197).
$6,000,000 to $7;500,000 (V. Ill, p. 2393,
(11) International Bank and Fidelity
Latest.
Period.\\920.1QYd.
6
6,107,600
7,990,600
227,400
1,129,500
54,600
1,619,100
22,000
839,500
131,100
71,800
284,200
179,600
221,000
101,900
20,133,500
8,379,900
209,500
15,331,800
65,507,400
200,000
1,000,000
Baltic Statesa 100
Battery Park 100
Atlantic
Bronx
increase in capital from
%
%
100
New York.
America
Dividends.
<fe
undivided
Companies.
'21.
8
'21.
3
263.000 See V. 11 l.P-1 56;V 110, p 2451,1612
4
16 Mar. '21.
16
1,814.500 Q-M 3i
Brooklyn.
100
100
500,000
Greenpoint.. 100
First
....
Globe Exch
a
150,000
100
200,000
200,000
a.
50
1,600,000
a._
100
100,000
Municipals a. 100
200,000
1,000,000
200,000
Homestead
a
Mechanics
Montauk
Nassau
100
.....
Side.a 100
100
People's
North
Ridgewood
.
West End.a. 100
9
Beg.bus
Dec.
Q-J
J
12/
5
14$ Apr 21.2 ^ (2)
J
nlO Dec
31'20? 5/
3 None Jan.
&
3 <2,200 J
J
4
100.000 Beg.bus
Nov
&
a
6 '20
lOn
J
&
Dec.31'20.
J
'21.
3
8 Apr.'21.
Q-J
2t
10/
&
J None None July
'14.
2
70,900 J
111,200 Beg. bu s.Sep .2*19 V.109, p.952
Q—J
/12 Apr. '21.
14/
3
1,477,600
nlO Jan. '21.
&
J
6s
11m
336,600 J
7 Jan.
&
J
8
'21.
4
268,900 J
300,000
200,000
100
_
J
&
1,253,000
200,000
_
J
4 Jan.
*21.
2
6 '20 V.lll.p. 1918
c
of
in July 1920 a
a
banks,
c
due to change in
of
Decrease due to
dividend period,
change in
dividend period,
1921 for
d Increase
one
dividend of 6% on new capital of
2%.
of Nat.
Capital
(7
$300,000
stock div. of 20%.
j On Mar. 28 1921 stockholders of the
not include extra div. of
Co.
Trust
(Hamilton
to
$500,000
Butchers'
of May 6
as
i Includes extra div. of 10%.
Drovers'
&
1921.
merged
with
Metropolitan
capital from $500,000 to $1,000,000 (V. 110, p. 434).
of 1 %.
NEW YORK AND BROOKLYN FIRE
n
regular and 4%
Includes extra divs. of 4%.
v
extra,
Includes extra
m
lows:
Special div. of 1 2-3% Jan. 1920 in connection with change in fiscal
year;
semi-annual div. of 5% and 5%
div. of 4%
extra in July 1920, and quarterly
of 1921.
p
Includes extra
of 3%.
t First div.
Six
per cent
at quarterly
of this is extra,
s
Div. period changed from
rate.
J. & J. to Q.-J.; paid in Jan. 1919 a semi-ann. div. of 8% and 2%
July 1920 div. increased to 3%.
extra,
vo
1920.
increase
Four and one-half
Dividend period changed from M. & N.
payment, 334%, made Feb.
July
v
y
1 1921.
x
Paid 3%
Broadway Central stockholders
on
capital from $100,000 to $200,000 (V. Ill,
per cent
extra,
of this is
in connection with
merger
Bankers &
Ship. 100
100
City of N Y_.
Commonwealth 100
25
Continental
50
Hanover
Home
100
Mercantile
100
50
Nat. Liberty
50
Niagara Fire
Northern
North
p.
266).
z
Paid in 1920
with Franklin Trust Co. and quarterly
15
Hamilton Fire__
to Q.-F. first quarterly
semi-ann. cash dividend of 16% Jan. 2, cash div. of 11% and stock div. of
200%
Alliance. 100
Amer.
each in Jan., Apr. and
July 15 1920 voted to
Bank
100
25
River
25
Pacific Fire
Queen of Amer. 100
100
Stuyvesant
United
Jan.
29
1921.
20 1920 to increase
o
Includes extra div.
States.
Westchester
INSURANCE COMPANIES.
Dividends.
Net Surp.
Dec. 31
1920. 1919. 1918. Last paid
1920.
.%
$
Fidelity-Phenix 100
first quarterly
divs.
$
Globe & Rutgers 100
Great American 100
q
1920 semi-annual div. of 4% and 1 % extra in April 1920 and
r
Amount.
Paid in
Includes special divs. of 30%.
div, of
2% on Oct. 1 1920.
Par
Paid 4% reg. and 1% extra each
and 1% extra in Oct. 1920.
in first two quarters
Capital.
Companies.
k Includes extra div. of
Paid in 1920 16 2-3% as fol¬
k Does
2485.
*
;
h Includes extra div. of 9%.
p.
Includes extra dividend of 7 %.
e
j Paid in each quarter of 1920 and also in
I Paid in Jan. 1920 4%
1%.
div. of 5%.
V. Ill,
4% declared in Dec. 1920, payable in Jan. 1921.
Stockholders of Commercial Trust Co. voted Jan.
from
Bank increased
the plans for the merger of the
See V. 112, p. 1364, 994, 901;
two institutions.
/ Includes extra div.
$500,000.
Jan. and Apr. 1921 2Y % regular and Y % extra,
u
Includes extra div. of 4%. h In¬
Also paid
Q
i Includes extra cash div. of 5%.
of 10%.
N. Y. Trust Co. and Liberty Bank ratified
Paid in 1919 three Quarterly dividends
e
d Paid in Jan. 1920 an extra div.
period,
12Y% each and a special dividend of 55% on old capital of $200,000,
and
of
b Apr. 28 1921 for national banks and Feb. 28
State banks,
b Includes extra divs. of 2%.
div. period,
/ Includes extra div. of 5%.
5%.
cludes extra div.
m
State
Decrease due to change in
Increase due to change in div.
20
_
10
...
20 el9Y 13H Apr. '21.
959,547
1,000.000
974,154 Bega n bus .inN ov.1918.
1,000,000
5
6
10
3 Dec. *20.
716,004
1,000,000
10
10 Feb. '21.
10 None
500,000 1,506,042
10
20
14 Jan. '21.
20
10,000,000 9,047,272
15
22 Jan. '21.
30
30
2,500,000 5,686,208
15
606
60
/46 Apr. '21.
700.000 11,361,312
4
cl8
25d
30 Apr. '21.
10.000000 10,013,906
3
12
10 May *21.
12
680,020
200.001
10
10 Apr.'21. 2H
10
923,236
1,000,000
25 Dec. '20.12 X
25
25
<6,000.000 12,451,744
10
10 Jan. '21.
10 None
707,881
1,000,000
20 Jan.'21.12
20
1,000,000 3,505,957 s22X
10
25 u Jan. '21.
25 u
u25
2.000.000 3,758,234
7 Jan. '21. 3H
7
404,048
500,000
10
10 Mar.'21. 2Y
mlO
m2,000,000 2,126,772
10 Apr. '21. 2M
low
u\5
718,607
400,000
25
25 Jan. '21.17H
30
2,000,000 5,024,199
3
700,000
253,622 None None None Jan. '17.
10
10 May'21.2
10
1,400,000 2,878,547
u25 May'21.
25u
u25
6d
1,000,000 1,577,833
cash divs. of 3% each on July 1 and Oct. 1.
*
Paid
in Jan.
1921
distribution of 2J4%.
an
extra
div.
of
t Paid in Jan.
t Includes extra divs. of 24%.
10% in addition to the quarterly
1921
in addition to the quarterly distribution of
1920
Oct.
regular and 2%
5%.
an extra
extra.
div. of 10%
H Paid in April, July and
extra div. of 3% in addition to the regular quarterly div. of
(1) Paid in 1920 two semi-ann. divs. of 2% each in Jan. and July
3%.
and
an
2%
§ Paid in Jan. 1921
one
quarterly div. of 2% in Oct.
lar and 2% extra.
Paid
in
Jan. 1921
as
follows:
1919, and 3%
in
Jan.
1921
2)4%
regu¬
(3) Paid in Jan. 1921 3% regular and 3% extra.
5% regular and 3%
regular and 6% extra.
divs.
(2) Paid
extra.
(4)
(5) Paid in Jan. 1921 6%
(6) Includes extra div. of 1)4%.
(7) Paid in 1919
6% and 1% extra Jan. 2 1919; 3% and 1% extra July 1
Dec. 31
1920.
(8)
Paid extra div. of 2% each quarter in
6 Includes
extra
of $5,000,000
dividends of 20%.
e
dend
capital
new
$10,000,000.
Increase due to change in
this is extra,
on
cPaid in 1920,6% on old capital
and 12% on new capital of
of
$2,000,000.
g
d One per cent of
/First divi¬
dividend period.
Dividend periods changed from
i Plans
Co. from $6,000,000 to
$12,000,000.
j Eight per cent of this is extra,
k Includes extra dividends
of 10%.
m Capital of North River Insurance Co. increased as of June 10
1920 from $1,000,000 to $2,000,000, $500,000 of the increase being paid to
stockholders out of surplus,
s Two and one-half per cent of this is extra,
F. & A. to Q.%F.;
under way
u
first quarterly dividend, 2Y%.
Paid May 1921.
for increasing stock of Home Insurance
Five per cent of
this is extra.
MAY, 1921.]
INDEX
INDEX TO
Companies
AS-ame
berdeen
COMPANIES—CONSOLIDATED.
Adirondack
Will be Found under—
.
...Norfolk Southern.
Delaware As Hudson.
...
Cleveland Akron Ac
Atlantic Coast Line RR.
American Coal Products Co
American Dock As Improvement
American Graphophone Co
Company.
Central of New Jersey.
...Columbia Graphophone Co.
California
Petroleum
Co.
Petroleum Co.
Food Product Co.
Associated Dry Goods Corporation.
Louisville As Nashville.
Atlanta Tennessee At Northern Ry.
Atlanta At Northern RR
Atlantic As Birmingham
Atlanta Birmingham As Atlantic.
Atlatlo n& Northwest
Atlantic Ac Yadkin RR
Canadian Pad lie.
Southern Ry.
Augusta Southern RR
Augusta Terminal Ry
Georgia & Florida Ry.
Charleston Ac Western Carolina
Houston Ac Texas Central.
American Woolen
Northwestern
Ayer Mills
Baltimore At Cumberland Valley RR.Consol. Gas El. Lt. RR.P.
Western Maryland &
altlmore Electric
'
Baltimore At Hards burg RR
Bangor As Portland
of
Ry.
Bait.
Western Maryland RR,
Delaware Lackawanna Ac Western.
Bay City Ac Battle Creek
Bay Counties Power Co
Miohlgan Central.
Pacific Gas & Electric Co.
Chicago Terre Haute & Southeastern.
Chicago Milwaukee At St. Paul.
Belt...
Bellingham & Northern Ry. Co
Bellows Falls Power Co—
New England Company (Industrials).
Bennington Ac Rutland
Bergen County RR
Rutland RR.
Erie RR.
Bessemer Coal Ac Coke Co
Big Sandy
Billings Ac East.Montana Power Co..Montana Power Co
American Light Ac Traction.
Birmingham Belt
Bluff Point Land Impt. Co—...
Boonvllle Bridge
Boston At Lowell
Boston Ae New York Air Line
Boyer Valley
Brooklyn At Montauk
Brunswick
Ac
St. Louis Ac San Francisco.
Delaware At Hudson Co.
New
York
New
Haven
Western
Buffalo At Susquehanna Iron Co
Buffalo Ac Southwestern
Ac
Hartford
Savannah Ac Atlanta Ry.
...Long Island
Rogers-Brown Iron Co.
RR.
Canadian Pacific Ry.
Illinois Central RR.
At Northwestern.
Central District Tel. Co. of Pitts
Central Foundry
Co
Central Ga. RR.
Centra]
Iron
As Banking
As Coal
Central N. Y. &
Western
Central Ohio
Central Ontario
Central Petroleum
Central Ac So. Amer. Teleg
Central Terminal RR
Central Union Gas
Vermont Transportation
Chalmers Motor
Central
Charleston Northern
Charleston
As Savannah
Chartlers.
Ohateaugay Ore Ac Iron Co
;
Chatham As Lebanon Valley
Chattanooga Rome As Southern
Chevrolet Motor Co
Cuba
■
Hooking Valley.
Hooking Valley,
Pennsylvania RR.
Fuel Co
Cumberland
Crucible Steel Co.
Current
Guantanamo At Western RR.
Pennsylvania RR.
Kansas City Fort Scott Ab
Memphis
Valley Ry
River
Dallas As Waco...................Missouri Kansas
anbury As Norwalk
New York New
As Texas.
Haven
Ab
Hartford
Chioago As Eastern Illinois.
..EI Paso Ac Northeastern Oo.
Lehigh Valley.
Minneapolis At St. Louis.
..Chicago At North Western.
Pere Marquette.
Dlmmlck Pipe Oo
.....U. 8. Oast Iron Pipe At Foundry Ce.
Distillers Securities Corporation
U. 8. Food Products Oo.
Dominion Line
Internatonal Mercantile Marine
Norfolk As Portsmouth Belt
...Elk Horn Coal Corporation.
Baltimore As Ohio.
El Paso Ac Northeastern Co.
Erie As Jersey
Line.
Gas of N. Y.
Erie
RR.
Erie RR.
European Ac North American...
Bessemer At Lake Erie.
Maine Central RR.
Evansvllle Belt Ry
Chicago Ac Eastern Illinois RR.
Evansvllle Henderson As Nashville..Louisville As Nashville.
Evansvllle Mt. Oarmel At Nor. Ry—Cleve. Olnc.
Chicago At St. Louts.
Evansvllle As Terre Haute
Chioago As Eastern Illinois.
FairmontSouthern
Coal
argo As
Chicago
Fitch burg RR
Flint As Pere Marquette
Boston At Maine RR.
Pere Marquette.
„
Florida Central
As
Consolidation Coal Co.
Milwaukee
As
Peninsular
Seaboard
Air Line
,
St.
Paul.
Ry.
Atlantic
Coast Line RR.
Air Line.
Houston As Texas Central.
Seaboard
Fort Worth As New Orleans
Fort Worth As Rio Grande
Iron Products Corporation.
Central or Georgia Ry.
Central Foundry.
Fremont Elkhorn
As
Frick H. O. Oo
Pittsburgh Shawmut & Northern RR.
Canadian Northern Ry.
Texas Company.
All America Cables, Inc.
.Minneapolis St. Paul As Sault Ste.
Oe
Maine
Florida West Shore
St. Louis—San Franolsoo.
Missouri Valley.Chicago As North Western.
.United States Steel Corporation.
M
Y.
Motor
Seaboard Air Line.
Atlantic Coast Line RR.
Pittsburgh Cin. Chicago As St. Louis.
Delaware Ac Hudson Co.
Rutland RR.
Central of Georgia.
General Motors Corporation.
Genesee As Alabama
eorgia River RR
Erie RR.
Seaboard
Georgia Ac Alabama Terminal Ry
Georgia Carolina Ab Northern
Georgia Pacific
Central Vermont.
...Maxwell
Rv
Ohio Cities Gas Co.
Ohio Cities Gas Co.
Eastern
Essex Terminal Ry
Euclid Equipment Trust
Chicago Ac Atlantic Terminal Co
Erie RR.
Chioago Dock
Chicago Utilities.
Chicago Edison Co
Commonwealth Edison Co.
Chioago Gas Light As Coke
People's Gas L. As C.
Chicago Ac Grand Trunk Ry
Grand Trunk Western Ry.
Chioago As Great Western
Bait. As Ohio Chicago Terminal RR.
Chicago Hammond As Western
Indiana Harbor Belt.
Chicago As Indiana Coal
Chicago As Eastern Illinois.
Chicago Indiana & Southern
New York Central RR.
Chicago Ind. As St, Louis Short Line.Cleveland Cln. Chic. As St. Louis.
Chicago Kalamazoo Ac Saginaw
Michigan Central.
Chicago Milwaukee Ac Puget Sound. .Chicago Milwaukee At St. Paul.
Chicago St. Louis Ac New Orleans
Illinois Central.
Chioago St. Louis As Pittsburgh
Pittsburgh Cincinnati Chlo. As St. L
Chicago Subway
Chicago Utilities.
Chicago (Bell) Telephone Co
Illinois Bell Telephone Co.
Chioago Wisconsin As Minnesota
Wisconsin Central.
Choctaw Ac Memphis
Chicago Rock Island As Pacfio.
Choctaw Oklahoma As Gulf
Chicago Rock Island As Pacific.
Cicero Gas Co
Public Service Corp. of Nor. Illinois.
Cincinnati Gas Transportation Co.—Columbia Gas At Electric Co.
Cincinnati Hamilton Ac Dayton
Baltimore Ac Ohio RR.
Cincinnati Ind. St. Louis As Chicago-Cleveland Cin. Chioago As St. Louis.
Cincinnati As Muskingum Valley
Cleveland Akron As Cincinnati.
Cincinnati Sandusky As Cleveland—Cleveland Cin. Chicago As St. Louis.
Cincinnati Southern
Cincinnati New Orleans As Texas Pao.
Cincinnati Wabash At Michigan Ry..Cleveland Cine. Chic. At St. L. Ry.
City Electric Co. of San Francisco...Great Western Power Co.
Crucible
Florida Southern
of N.
Pacific
Mack ay Cos.
Commercial Nat. Safe Deposit Co
Commonwealth-Edison Co
Concord Ac Montreal
Boston & Maine RR.
Connecticut River Power Co
New England
Company.
Connecticut River RR
Boston Ac Maine RR.
Connellsvllle Ac Monongahela RR...United States Steel
Corporation
Consolidated Electric Co
Great Western Power Co.
Consolidated Gas Co. of Baltimore..Consol.
Gas, Electric Light Ab Power
Consolidated Power Co
Consol. Gas, El. Lt. Ac P. Co. of
Bait.
Consumers' Chemical Corporation
Virginia-Carolina Chemical Co.
Consumers' Gas
People's Gas Lt. Ab Coke.
Continental Coal
Hocking Valley.
Cornwall & Lebanon RR
Pacific Gas Ac Electric Co
Bell Tel. Aco. of Pennsylvania.
Gas
>a
..Wabash.
Norfolk As Western.
Commercial Cable Co
Missouri Pacific.
Consolidated
Colorado Fuel As Iron
Denver Northwestern' Ab
Columbia As St. Louis
Columbus Connecting As Terminal
Columbus (O.) Gas Co
Columbus Gas At Fuel Co
Columbus Ab Hocking Valley
Columbus As Toledo
El Paso Ac Rock Island Ry
Baltimore As Ohio.
Ry
<
Chesapeake As Ohio.
International As Great Northern
Equitable Gas Light Co. (New York).Consolidated
Seaboard Air Line.
Branch Union Pacific
Western
Colorado Bridge
Colorado Industrial Co
Elizabeth River
Carthage Ac Adirondack
New York Central RR.
Carthage Watertown Ac Sack. Harb-.New York Central RR.
Cataract Power At Conduit Co
Buffalo General Electric Co.
Cedar Rapids Iowa Falls As Northwes.Chlcago Rook Island As Pacific.
Cedars Rapids Mfg. Ac Power Co
Montreal Light, Heat Ac Power
Cedar Rapids As Missouri River
Chicago As North Western
Central Arkansas As Eastern
St. Louis Southwestern.
Central Branch Ry
Missouri Pacific.
Central
As
Kllwood Short Line
Canadian Northern Ry.
Canadian Northern Ky.
Canadian Northern Ry.
Canadian Northern Western Ry—...Canadian Northern Ry.
Carnegie Co
United States Steel Corporation
Central California Electric Co
River
Corporation.
West indies 88
Baltimore Ac Ohio RR
Maryland
Western
Elk Horn Fuel Co
Canadian National Ry
Canadian Northern Alberta Ry
Canadian Nor. Coal Ac Ore Dock
Central.
Atlantic Gulf &
...—
Central RR.
Consolidated Gas of N. Y.
Georgia..Southern Railway.
Detroit Edison.
Eastern of Minnesota
Great Northern.
Eastern Tel. Ac Tel. Co
Keystone Telephone Co.
Easton As Amboy—East. As Northern.Lehigh
Valley.
Eoonomy Light As Power
Publio Service Corp. of Nor. Illinois
Edison Elec. 111. of Brooklyn
Brooklyn Edison Co.
Edison Elec. 111. of New York
Consolidated Gas Co. of New York.
Edison Light Ac Power Co
Pacific Gas Ac Electric Co.
California Central Gas & Electric Co.Pacific Gas Ac Electric Co.
California Electric Generating Co
Great Western Power Co
California Gas Ac Electric Corp
Pacific Gas At Electric Co
California Northwestern
Northwestern Pacific.
Cambria At Clearfield
Pennsylvania RR.
Canada Atlantic
Grand Trunk Ry.
:i,
Carolina
Valley
East River Gas
ast Maine RR—
Carolina
Calgary At Edmonton Ry
As
East Tennessee Virginia As
Eastern Michigan Edison
Montana Power Co.
Cairo Bridge Co
aldwell Ac Northern
Terminal
...
Bullfrog-Goldfield
Las Vegas Ac Tonopah.
Bullock Electric Manufacturing
Allls-Chalmers Manufacturing Co.
Bullock Manufacturing Co
Allls-Chalmers Manufacturing Co.
Burlington Cedar Rapias Ac Northern.Chloago Rock Island Ac Pacifio.
Burlington As Missouri River
Chicago Burlington Ac Qulncy.
Butte Electric Ac Power Co
Cleveland
Clyde Line
Duluth Rainy Lake At Winnipeg By..Duluth
Winnipeg At Pacific Ry.
Durham As Northern
...Seaboard Air Line.
Dutchess County RR
Central New England Ry.
Atlantic Coast Line RR
Erie
Will Be Found UndtrLt., Ht. Ac Power Consol.
Mercantile Stores Corporation.
Cleveland Akron Ac Cincinnati Ry.
..Pennsylvania RR
Cleveland Cln. Chioago AbSt
Loula
Baltimore As Ohio.
Toledo Columbus '& Ohio River
New York Central RR
Baltimore & Ohio
Wickwire Spencer'steel
Detroit Grand Rapids As Western
Detroit Rock Salt
...International Salt Co.
Dexter At Newport RR
Maine O entral RR.
Dexter At Piscataquis RR
.....Maine O entral RR.
Missouri Kansas Ac Texas.
Boston Ac Maine RR.
Chicago At North Western
Railway
Cleveland Short Line
Clinton-Wright Wire Co
Danville Ab Grape Creek
Dawson Ry. At Coal Co
Delano Land
Des Moines At Fort Dodge
Dee Plalnes Valley
Republic Iron Ac Steel Co.
Chesapeake Ac Ohio
Bingham ton Gas Works
As Marietta
Colorado-Utah Construction Co
United States Steel Corporation.
Kansas City & Memphis.
Bangor At Aroostook RR.
Canadian Pacific.
..
Cleveland
Coal
California
T7. S.
....
Cleveland Columbus Cln. As Ind
Cleveland Lorain As Wheeling..
Coal Ac Coke Ry
Coal As Iron Ry—
U. S. Cast Iron Pipe At Foundry Co.
American Steamship Co
Arkansas Oklahoma As Western
Aroostook Northern RR.
Aroostook Valley (Electric) RR.
Associated Merchants Co
Atlanta Knoxvllle As Northern
Brmson
^
Columbus
Clearfield Ac Jefferson
Barrett
American Oilfields Co
American Pipe At Foundry Co
American Petroleum Co
American Spirits Manufacturing
Bedford
^
.
Tennessee Coal, Iron At RR. Go.
Albany & Northern
^
Georgia Southwestern At Gulf.
Alberta Ry. A Irrigation Co
Canadian Pacific Ry.
Algoma Central Terminals
Algoma Central Ac Hudson Bay Ry.
Algoma Steel Corporation
Lake Superior Corporation.
Allegheny Valley
Pennsylvania RR.
Almagordo At Sacramento Mtn. Ry.-El Paso Ac Northeastern RR.
Ab
Name.
_
?ivlCoI?T^t^en^& Industrial Oorp.Montreal
(H. B.) Claflin Co
Southern Railway Co.
...
Alabama Steel Ac Shipbuilding Go
Austin
&c.
not given in the tables in their alphabetical order
may be found by reference to the index below.
Ab Asheboro
Alabama Central.
Alabama Midland
249
Seaboard Air Line Ry.
Seaboard Air Line Ry.
Southern Railway.
Gila Valley Globe Ab Northern
Point Storage
Arizona Eastern.
GIrard
Pennsylvania RR.
...Western Union Telegraph
Gold As Stock Telegraph Co
Goshen Ac Decker town RR
Oswegatchie..
Granby Mining Ac Smelting...
Grand Rapids Gas Light
River
Valley..
Gray's Point Terminal
New York Central RR.
American Zinc, Lead Ac Smelting.
American Light As Traction,
Michigan Central.
....St. Louis Southwestern.
Great Falls Power Co.
Great Northern Ry. of Canada
Great Western Ry. of Caaada
Greeley-Hudson Securities Corp
Greeley Square Realty Co
Greenbrier Ry
Guatemala
Central
Halcomb Steel Co
all fax At Southwestern
Hancock
Ry
As Calumet
Montana Power Co.
Canadian Northern Quebec.
..Grand Trunk Ry.
Hudson Companies (RRs.).
Hudson Companies (RRs.).
Chesapeake As Onio.
International Rys, of Cent. America
Crucible Steel Oo.
Northern
Canadian
By.
Mineral Range.
Hannibal Ac St. Joseph Ry
Harlem River As Portohester
Chicago Burlington At Qulncy RR.
New York
New Haven
H arris burg Ports. Mt. J. Ac Lancaster. Pennsylvania RR.
Hecker-Jones-Jewell
Co.
Erie RR.
Gouverneur Ac
Grand
Air Line Ry.
Co.......
Henderson Bridge...
Hereford
As
Hartford
Standard Milling Oo.
Louisville As Nashville.
...Maine Central.
Hoboken
Ferry
N. Y. As Hoboken Ferry.
Hocking Coal Co
Minneapolis Ac St. Louis RR.
Hollldaysburgh Bedford At Cumb....Pennsylvania.
Holly Manufacturing Co
Worthington Pump Ac Machinery Oo.
Holyoke Ac Weetfleld RR
N. Y. N. H. Ac Hartford RR;
Home Long Distance Telephone Co.-Pacific
Telephone Ab Telegraph Oo
,
Housatonlc
Hudson
—
Coal
Huntington Ab Big Sandy
Hutchinson As Southern
Hydraulic Power Co
Illinois Steel Co
lllnols
Tunnel
New York New Haven Ac
Delaware As Hudson Co.
Hartford
Baltimore As Ohio.
Atchison Topeka Ab Santa Fe
Niagara Falls Power Co.
United 8bates Steel Corporation.
Chicago Utilities.
[VOL. 112.
INDEX
250
Will Be Found Under—
Canadian Northern.
Acme Packing Co.
Indiana Bloomlngton Ac Western
Peoria Ac Eastern.
Indiana Illinois At Iowa
——New York Central RR.
Indiana Steel Co
United States SteeJ Corporation.
Indiana Natural Gaa Ac Oil
People's Gas Light As Coke.
I>
Indianapolis Decatur Ac Western..
Cincinnati Indianapolis & Western.
Indianapolis & Louisville.Chicago Indlanap. Ac Louisville.
Indianapolis Ac St. Louis
Cleveland Cin. Cnlc. As St. Louis.
-
— —
—International Mercantile Marine.
Inter bo rough Consolidated Corp.
Worthlngton Pump Ac Machinery Oo.
Iowa Central
-—Minneapolis As St. Louis.
v
Iowa Minnesota Ac Northwestern —--Chicago A North Western
Ironda'^ Bancroft tc Ottawa By
Canadian Northern Rr.
Iroquois Iron Co
Steel & Tube Co. of America.
International Navigation
—
Elevating Ry
New England Navigation Co
New England Power Co..........
New England Company.
Erie RR.
New York New Haven As Hartford.
N. Y. N. H. Ac Hartford RR.
El Paso Ac Northeastern Co.
Gulf Mobile At Northern.
Louis. As Nash (N. O. As Mobile DIv.
NTewburg & New York
New Haven
,
As Derby
New Haven Ac Northmapton
New Mexico Ry. As Coal
RR
New Orleans Mobile Ac Chicago
New Orleans Mobile As Texas......
...
—
N. Y. Central At Hudson River
New York At Cuba Mall 88. Co
Elevated
York
Manhattan Elevated.
Erie RR.
.....
Erie
As
Co..—Consolidated Gas Co. of New York.
Ht. Ab Power
Consolidated Gas of New York.
New York Ac East River Gas
N. Y.
Baltimore At Ohio.
Chicago tc Alton.
..Pennsylvania.
Jamison Coal Ac Coke Co
tc Chicago
Joliet
Newport At Rlchford Ry
New York Bay Extension
New
New
Gas. El. Lt..
York Glucose
Corn Products.
Hudson At Manhattan RR.
Erie RR.
Consolidated Gas of New York.
York At New Eng. Bost. Term—New York New Haven As Hartford.
York At Northern
...New York Central RR.
York At Porto Rico 88. Oo
Atlantic Golf At West Indies 88. Oe.
York Providence As Boston
New York New Haven As Hartford
York Ac Putnam
New York Central RR.
York Ac Queens El. Lt. Ac Pow..Consolidated Gas Co. of New York.
York At Queens Gas Co
....Consolidated Gas Co. of New York.
York As Rockaway
Long Island.
New York tc Jersey RR
New York Lake Erie As Western...—
New York Central RR.
If alamazoo & White Pigeon
New
l^ankakee & Southwestern
Illinois Central.
Kansas City Excelsior 8pgs. Sc Nor..Wabash RR.
Kansas City Memphis tc Blrm. Ry_.Kansas City Ft. Scott tc MemphlsRy.
Kansas City tc Memphis Ry. Bridge.-Kansas City Fort Scott tc Memphis.
Kansas City tc Pacific
...Missouri Kansas tc Texas.
Kansas City Pitts, tc Gulf
Kansas City tc Southern.
Kansas City Northwestern Ry
Missouri Pacific Ry.
Kansas City St. Louis As Chicago
Chicago tc Alton.
Kansas tc Colorado Pacific
..Missouri Pacific.
Karpen Building.Standard Oil Co. of Indiana.
Kennebunk Ac Kennebunkport
Boston Ac Maine RR.
Kentucky Central
Louisville tc Nashville.
Kings County El. Lt. Ac Power Co
Brooklyn Edison Co.
Knox tc Lincoln..
.--.MaineCentral.
Knoxville tc Ohio
Southern Ry.
Kolb Bakery
........
..General Baking Oo.
_
.
_
—
—- —
I
Bethlehem Steel Oo.
Pere Marquette
New York Central RR.
New York Central RR.
American Pneumatic Service.
ackawanna Iron Ac Steel Oo
I-«ake Erie
tc
Detroit River
Lake Erie tc Pittsburgh Ry
Lake Shore Ac Mich, Southern Ry
Lamson Consol. Store Service. —
Laramie Haim's Peak tc Pacific
.Colorado Wyoming tc Eastern.
Canada Southern.
Leamington tc St. Clair
Ac Lake Erie Ry
Lehigh Valley RR.
Navigation Electric Oo
Lehigh Coal Ac Navigation Oo.
& New York
Lehigh Valley.
tc Susquehanna ——
Lehigh Coal Ac Navigation.
Leroy As Caney Valley
—Missouri Pacific.
Lexington Ac Eastern By...........Louisville tc Nashville RR.
Lexington Ab Frankfort-. — — — .
Louisville Ac Nashv. (L. C. tc Lex.).
Leyland Line
...International Mercantile Marine.
Lick Creek tc Lake Erie.Carolina Cllnchfleld A; Ohio.
Lincoln Park tc Charlotte
Buffalo Rochester Ac Pittsburgh.
Lehigh
Lehigh
Lehigh
Lehigh
—.........Union Carbide Ac Carbon Oorp.
Little Falls Ac Dolgevllle Ry
New York Central RR.
Little Rock Bridge Co
Chicago Rock Island Ac PacHIc Co.
Little Rock Ac Hot Springs Western—Missouri Pacific.
Little Rock Jet.—Lit. Rk. Ac Ft. Sm.Missouri Pacific.
Locomo. tc Mach. Co. of Montreal
American Locomotive Co.
Long Dock Company
Erie RR.
Long Island tc Flushing—....
Long Island.
Louisiana tc Missouri River
Chicago tc Alton.
Louisville Cincinnati to Lexington
Louisville Ac Nashville.
Lousvllle Ab Frankfort
...Louisville tc Nashv.—L. 0. A# L.
Louisville & Nashville Terminal
Louisville tc Nashville.
Lowell Ac Andover
Boston Ac Maine RR.
Llnde Air Products
-
R/Vacopln RR
N. Y. Susquehanna Ac Western RR
——.
«*adison Gas tc Electric—-
—
—
Madison River Power Co
-...American Light tc Traction.
Montana Power Oo.
Atlantic Gulf tc West Indies 88. Oo.
Boston Ac Maine RR.
Canadian Northern.
Manitoba Southwest'n Colonization.-Canadian Pactflo.
Manitoulin Ac North Shore Ry
Algoma Eastern Ry.
Manitowoc Gr'n Bay tc Nor. West'n.Chicago As North Western.
Mankato tc New Ulm
Chicago & North Western.
Mark Manufacturing Oo--.........Steel Ac Tube Co. of America.
Marlln Arms Corporation
Marlin Rockwell Corporation.
Marquette Houghton tc Ontonagon..Duluth South Shore tc Atlantic.
M&rshfleid Ac Southeastern RR
Wisconsin Central Ry.
,
Maryland Steel Oo
Bethlehem Steel Co.
Masaawlppl
— — ..Connecticut A> Passumpslo.
McKeesport A> Belle Vernon
Pit tab. McKeesport As Youghlogheny
Memphis Paris As Gulf
Memphis Dallas Ac Gulf.
Merchants'
Bridge
St Louis Merch. Bridge Term. RR.
Metropolitan Gas Corporation
Pacific Gas Ac Electric Co.
Mexican Central
National Railways of Mexioo
Mexican Eastern.
Interoceanlc of Mexico.
Mexican International—
...National Railways of Mexioo.
Middlesex Valley RR
Lehigh Valley RR.
Midland of New Jersey
New York Susquehanna As Western
Midland RR
N. Y. Susquehanna tc Western RR
Mallory
Line
Manchester Ac Lawrence
A; Southeastern
-
Manitoba
,
Cripple Creek Central.
Midland Terminal
Mifflin
Equipment
United States Steel Corportlon.
...
Georgia tc Florida.
Chicago tc North Western.
Chicago Milwaukee As St. Paul.
Mlllen tc Southwestern—
Milwaukee Lake Shore Ab Western
Milwaukee tc Northern.—
Milwaukee Sparta As North
Milwaukee tc State Line
Western..Chicago tc North Western.
Chicago As North Western
Minneapolis As Paolflo
Mlnneap. Sault. Ste. Marie As Atl
Minneapolis Terminal
Minneapolis Union
...
Mlnneap. St. P. tc Sault Ste. Marl
Mlnneap. St. P. tc Sault Ste. Marie
Chicago Great Western.
...Great Northern.
Minnesota As Iowa
Minnesota tc South Dakota.
—
—
„
_
Louisville As Nashville.
Connecticut At Passumpslc Ry.
Long Island.
,
RR—New York Central RR.
Atlantic Gulf At West Indies S8. Oo.
Newport As Cincinnati Bridge
New York
Jackson Lansing tc Saginaw
Michigan Central.
ameetown Franklin tc Clearfield-.-New York Central.
—
Copper Co..——
New England
New England
—
Interbo rough-Metropolitan Oo
International Steam Pomp Oo_
Junction
New Cornelia
—
—
Will Be Found Under—
Calumet At Arizona Copper Co.
New York New Haven tc Hartford.
—JGrand Trunk Ry.
N. Y. N. H. &: Hartford RR.
Name.
Name.
Imperial Rolling StockIndian Packing Corp
Chicago As North Western.
Chicago As North Western.
Missouri Kansas tc Texas.
..Missouri Kansas tc Texas
Kansas Oklahoma Ac Gulf
Mobile As Bay Shore
Mobile As Ohio.
Mobile tc Montgomery Ry
;
.Louisville Ac Nashville RR.
Mohawk At Malone................New York Central RR
Monon Coal
Chicago Indianapolis tc Louisville.
Monongahela River Oons. Coal tc O.Plttsbnrgh Coal Co.
Monongahela Southern RR
United States Steel Corporation.
"Monon Route"
...Chicago Indlanap As Louisville.
Missouri Kansas As Eastern
Missouri Kansas As Oklahoma
Missouri Oklahoma Ac Gulf
Montana Central RR
Great Northern Ry.
Montana Power Transmission Co.—Montana Power Co.
Montauk Extension RR
Long Island.
New
New
New
New
New
New
New
New
„
.
York Mutual Gas
„
.
Lighting..Consolidated Gas Oo. of New York.
New York Susquehanna As Western.
Co
..Niagara Lockport Ac Ontario Pow. Co
New York At Westchester
New York Ab Wilkes-Barre Coal
Niagara & Erie Power
Niagara Falls Hyd. Pow. Ab Mfg.
Co..Hydraulic Pow. Co. of Niagara Falls.
Nlles-Bement-Pond Co.
Atlantic Coast Line RR.
Transportation..Chesapeake As Ohio.
Northeastern RR. of So. Carolina ——Atlantic Coast Line RR.
North Shore Electric Co
Public Service Corp. of Nor. Illinois
North Wisconsin
Cblc. St. Paul Minn. As Omaha.
Northern California Power Co
Pacific Gas Ac Electric Co.
Northern California
Southern Pacific RR.
Northern Maine Seaport
Bangor As Aroostook.
Northern Mississippi River Pow. Co.Northern States Power Oo.
Northern Ry. (Canada)
Grand Trunk Ry.
Northern Ry. of California..
Southern Pacific RR.
Northern Union Gas Co
...Consolidated Gas of New York.
Northwestern Gas Light At Coke Co.-Public Service Corp. of North. 111.
Northwestern Telegraph Co
Western Union Telegraph Co.
Northwestern Union
Chicago As North Western.
Norwalk Steel Co
Crucible Steel Co. of America.
Norwood tc Montreal RR
New York Central RR.
Nlles Tool Works Co
Norfolk
As Carolina
-
Norfolk Terminal As
—
.....
—
—
OceanicSteamship
Steam Navigation Co...--International Mercantile
Central of Georgia Ry.
cean
Rutland RR.
Ogdensburg Terminal Ry
Ohio Cities Gas Co
Ohio Indiana
Marine Os.
People's Gas Light As Coke.
Rutland RR.
Ogden Gas...
Ogdensburg As Lake Champlaln
....-
As Western
Ohio Ac Little Kanawha..
Ohio River..
.....
Pure Oil Co,
Peoria As Eastern.
Baltimore As Ohio.
..Baltimore Ac Ohio.
Ninety-Five Broadway
.....American Telephone Ac Tel eg. <M.
Ac Quebec
.........
Canadian Pacific.
>
Oregon Eastern Ry
...
Central Pacific Ry.
Oregon RR. Ac Navigation Co
Oregon-Wash. RR. Ac Nav. Ce.
Ozark As Cherokee Central
St. Louis San Francisco..
One
Ontario
...
Pacific Gaa Improvement Co..—
acific Light Ac Power Corp
Pacific Gas Sc Electric Co.
Southern California Edison Oi.
Missouri Pacific Ry.
Ry—..—.—Louisville Ac Nashville RR.
Pan-American RR..............
National Railway of Mexico.
Paragould Southeastern.....—....
St. Louis Southwestern.
Passaic Ac New York RR
N. Y. Susquehanna Ac Western RR.B
Perm-Mary Coal
Pennsylvania Steel.
Pennsylvania Coal Ac Coke—......
Clearfield Bituminous Coal Corp.
Pennsylvania Ac N. Y. Canal
Lehigh Valley.
* ■«'
Pennsylvania Ac Northwestern......Pennsylvania RR.
Pennsylvania Steel Co
......... .Bethlehem
Steel Co.
Pacific RR. of Missouri
.......
Paducah Ac Memphis
Pennsylvania Utilities
Co.—.-—---General Gas Ac Electrie Oo.
Penobscot Shore Line
Peoria
Ac
—
Atlantic
Pensacola Ac
Northwestern
—.....Maine Central.
Louisville Ac Nashville.
Chicago Ac North Western.
Atlantic Coast Line RR.
Galena Signal Oil.
Pennsylvania.
Philadelphia tc Reading
...Reading Company.
Phlia. Wilmington Ac Baltimore
Phila. Baltimore tc Washington SB.
Piedmont Ac Cumberland RR—...Western Maryland RR.
Pine Bluff Ac Western
St. Louis Iron Mtn. Ac Southern.
Pine Creek
New York Central RR.
Pittsburgh Cleveland Ac Toledo
Baltimore Ac Ohio.
Pittsburgh Coal, Dock Ac Wharf
Pittsburgh Coal Co.
Pittsburgh Crucible Steel Co
Crucible Steel Co. of America.
Pittsburgh Junction
Baltimore tc Ohio.
Pittsburgh Lisbon tc Western
Wheeling Ac Lake Erie RR.
Pittsburgh Newcastle Ac Lake Erie.-Baltimore Ac Ohio.
Pittsburgh Palnesvllle Ac Falrport
Baltimore Ac Ohio RR.
Pittsburgh Shenango Ab Lake Erie
Pittsburg Bessemer Ab Lake Erie.
Pittsburgh Virginia Ac Charleston
Pennsylvania.
Pleasant Valley Coal
Denver Ac Rio Grande.
Port Wenworth Terminal Corp
Savannah Ac Atlanta Ry.
Portland Ac Ogdensburg
Maine Central.
Portland Sc Rochester RR
Maine Central RR.
Portland (Me.) Union Station Co—Portland Terminal Co.
Petersburg
— — — — — —
Petroleum Refining Co..
Philadelphia
Ac Erie
Portsmouth Great Falls
Postal
Ac Conway ..Boston Ac Maine.
Mackay Companies.
Western Maryland.
Republic Iron Ac Steel.
Nlles-Bement-Pond Co.
Atchison Topeka Ac Santa Fe.
Union Carbide Sc Carbon Corp.
Chicago Ac North Western.
Telegraph Cable
Potomac Valley
Potter Ore
Pratt
Ac
Whitney...
Prescott Ac Eastern..
Prest-O-Lite Oo
Princton
Ac
Northwestern
Long Island RR.
New York New Haven tc Hartford.
Prospect Park tc Coney Island RR
Providence Ab Springfield
Providence
...New York New Haven Ac Hartford.
Terminal
Public Service Bldg. Co. of Bait—
Consol. Gaa El. L. tc P. Oo. af Bait.
uebec Central-...-...
Qu'Appelle L'g La'e to Sask
Canadian Pacific.
Canadian Northern
...
Montreal Ac Province Line Ry
Central Vermont Ry.
Montreal Warehousing...
Grand Trunk
Morris Canal Oo
.....Lehigh Valley RR.
Mount Vernon Branch
Chicago tc Eastern Illinois.
Munlslng
Munlslng Marquette tc Southeastern.
Muskegon Grand Rapids At Indiana.Grand Rapids Ac Indiana.
Mutual Electric Light Co..........Pacific Gas Ac Electric Co.
Mutual Fuel Gas
People's Gas Light As Coke.
Mutual Union Telegraph Co
.Western Union Telegraph Oo.
....
Mashvllle Florence
As Sheffield
1 national Railroad of Mexioo
Leather Co
National Starch
National Tube Co
National
Nevada At California BR—
—
New Brunswick
New
Brunswick Southern
New Castle At Shenango Valley
...
Canadian Northern Ry.
Raleigh Ab Southport
Norfolk Southern.
Raleigh Ac Southwestern.
—Chesapeake Ac Ohio.
Ravenswood Spenoer Ac Glenvllle —Baltimore Ac Ohio.
Retsof Mining Oo
International Salt Co.
Richmond Ac Allegheny Valley Ry...Chesapeake At Ohio Ry.
Richmond Ab Danville
Southern Railway.
Richmond Ac Mecklenburg RR
Southern Ry.
Richmond Ac Petersburg
Atlantic Coast Line RR.
Denver Ac Rio Grande.
United States Steel Corporation.
Buffalo Rochester Ac Pittsburg.
Chicago Rock Island Ac Pacific.
Rio Grande Western
Rlsdon Iron Works
Rock Island Ark.
N. Y. N. H. At Hartford RR.
Nebraska
—
Raleigh Ab Augusta-Ral. tc Gaston.-Seaboard Air Line.
alelgh Ab Cape Fear
Norfolk Southern.
Corn Products Refining Co.
United States Steel Corporation.
Naugatuck RR
New Amsterdam Gas
Louisville As Nashville.
.National Railways of Mexioo.
Swift Ac Ato.
....
Quebec Ac Lake St. John Ry—
Rock Island
Chicago Burlington As Qulncy.
Central Pacific Ry.
Consolidated Gas of New York
Canadian Pacific.
Canadian Pacific.
Rutland-Canadian
Sharon Ry.
Rocnester tc Pittsburg
(
Ab Louisiana
Improvem't Equipm't— Chicago Rock Island Ac Pacific.
Rock Island Ac Peoria Ry
Chicago Rock Island Ac Pacific By.
Rocky Mt. Coal At Iron Oo
Colorado Fuel Ac Iron Oo.
Roland Park Electric Ab Water Co—Consol. Gas El.L. Ac Power 0O..B*.
Rome Watertown Ac Ogdensburg
New York Central RR.
Rutland Toledo Ac Northern
Ry
Rutland.
Chicago Ac Alton RR.
.
MAY, 1921.]
INDEX
Name.
Will Be Found
Sacramento Electric Gas AGo
Ry
acramento Valley Power
St. Charles
Under—
Pacific Gas A Electric Co.
Northern California Power Oo.
Wabash.
Bridge
St. Clair Madison & St. Louis Belt-.Missouri & Illinois
Bridge & Belt
St. Clair Furnace Co
United States Steel Corporation.
St. Clair Steel
United States Steel Corporation.
St. Clair Terminal RR
United States Steel
—
Corporation
St. Joseph Gas
at.
American Light & Traction
Canadian Pacific.
...
Lawrence A Ottawa
St. Louis
Bridge
Terminal Association of St. Louis.
St. Louis & Cairo Ry
..Mobile & Ohio RR.
St. Louis Iron Mount'n & Southern-Missouri Pacific
System.
St. Louis Peoria & N. W.
Ry..-
St. Louis Wichita & Western
St. Maurice Paper Co
"St.
St. Paul
&
Chicago A North Western Ry
St. Louis & San Francisco.
Union Bag & Paper Co.
.....Chicago Milwaukee A St. Paul.
Paul"
Duluth
Eastern Grand Trunk
Chicago & North Western.
3t. Paul & Kansas City Short Line--Chicago Rock Island A
Pacific.
St. Paul
GaslightAmerican Light & Traction.
3t. Paul Minneapolis A Manitoba
Great Northern.
8t. Paul & Northern Pacific
Northern Pacific Ry.
Salmon River Power Co
Niagara Lock port & Ontario Pow.Go
Sanford & St. Petersburg RR
Atlantic Coast Line RR.
San Francisco Gas A Electric Co..
Pacific Gas A Electric Oo.
San Francisco & San
Joaquin Val
Atchison Topeka & Santa Fe.
San Pedro Los Angeles & Salt Lake
Los Angeles & 8alt Lake RR.
Fe Prescott & Phoenix
Atchison Topeka & Santa Fe.
Saranao & Lake Placid
...Chateaugay & Lake Placid.
Santa
Sault Ste. Marie & Southwestern.—Chic. St. Paul
Minneap. & Omaha
Savannah Florida & Western
Atlantic Coast Line RR.
& Duanesburg
Delaware & Hudson.
Schoen Steel Wheel
United States Steel Corporation.
Schuylkill River East Side
Baltimore & Ohio.
Schwarzschild & Sulzberger
Wilson & Oo.
Scioto Valley & New England..
Norfolk & Western.
Schenectady
3ea
&
Roanoke
Seaboard Air Line.
Atlantic City.
Coast
Sen Sen Chiclet Co
Shade Gap
.......
...
Silver Springs Ocaia
Missouri Kansas & Texas
St. Louis Southwestern.
Atlantic Coast Line RR.
&
& Gulf
Pacific
Elmlra & Lake Ontario
...
Georgia
Southern Ry.. Carolina Division.
Louisville & Nashville.
.....Pacific Gas A Electric Co.
South & North Alabama
South Yuba Water Co
Southeastern
Maine Central.
-
&
&
St.
Louis
Louisville
Southern California Telephone
Southern Indiana
Southern
Pacific
Branch
Nashville.
Southern Pacific RR.
Nevada
California
Electric
Corp.
Pennsylvania.
Southwestern Coal & Impt. Oo
Spanish-American Iron Co
Spartanburg Union & Columbia
flpuyten Duyvl! & Port Morris
Standard Electric Co........
Gas
&
Pacific Telephone & Telegraph Co.
Chicago Terre Haute & Southeaat'n
Southern Sierras Power Oo
South west Pennsylvania
Standard
Southern Ry., Carolina Division
New York Central RR.
Pacific Gas & Electric Co.
.....Consolidated Gas of New York.
...
Baldwin Locomotive Works.
Baltimore & Ohio RR.
_
&
Carolina
Coal
...Norfolk Southern.
Branoh
Sulzberger Sons & Co
Sumter
Sunbury
&
Wateree
exas
Pitts. Oin. Chicago
A St. Louis Ry.
Missouri Kansas A Texas.
..Texas Pacific Coal A Oil
Co.
Detroit—Michigan Central.
Baltimore A Ohio.
Walhondlng Valley A Ohio..Toledo Columbus A Ohio
River
Toledo
Toronto Grey A Bruce
Canadian Pacific.
—
Traverse City RR...
Grand Rapids A Indiana.
Troy
A Boston
Tunnel Railroad of St. Louis
Turner (J. Spencer)
Fitchburg.
Terminal Ass'n of St. Louis.
International Cotton Mills Corp.
—
—
Hazleton &
-
Union Transportation Oo
nion Switch & Signal Co
Westinghouse Air Brake
..
Chicago A Eastern Illinois.
..Wilson & Oo.
.—Southern Ry., Carolina Division
Wilkes-Barre.-Pennsylvania.
United Eleo. Light A Power, Bait
Consol. Gas Eleo. Lt. A
Power
United Elec. Light A Power of N.
Y.-Consolidated Gas of New York
Union
RR
United States Steel Corporation.
Union Stock Yard A Transit Co
Ch. J. Rys. A U. Stk. Y.
United Gas A Electric Co
Pacific Gas A Electric Oo.
United Motors Corporation
General Motors
Corporation.
United States Leather
United States Sugar Refinery
Upper
Central Leather.
Corn
Products Refining Oo.
Maine Central.
Coos
Utah
Central
Utah
Company
U. S.
Utah
Fuel
Denver A Rio Grande.
Utah
A
Oregon Short Line.
New York Central RR.
Delaware A Hudson RR.
Denver
.
Northern
Utlca A
Black River.
Utica Clinton A BInghamton RR
A
Rio Grande.
Smelting, Refining A
Bridge
„
...
Wabash-Pittsburgh Terminal
A Northwestern
Pittsburgh A West Virginia.
aco
Houtston & Texas Central Railway.
Washington County.
Maine Central.
Washington A Columbia River.-...Northern Paolflo.
Washington Ohio A Western
Southern Ry.
Webster Coal
Westchester
A Coke
...Clearfield
Lighting Co
West Cheater RR
West Pennsylvania RR
West River
West Side Belt
Bituminous Coal Corp
Consolidated Gas of New York.
........Pennsylvania RR.
Pennsylvania RR.
West Virginia A Pittsburgh
Western Pennsylvania.
New London Northern.
Pittsburgh A West Virginia Ry,
Baltimore
A Ohio.
Pennsylvania.
Western Pocahontas
Corporation—..Chesapeake A Ohio.
Western Steel Car A Foundry Co
Pressed Steel Car Co.
Western Telephone A Telegraph Oo
Westinghouse Machine Co
American Telephone A Telegraph Oo
Westinghouse Elec. A Mfg. Oo.
Midland
Valley.
Wick wire Spencer Steel Corporation
N.
Y.
Susquehanna
A Western.
Great Northern.
Wllm. A Weldon—Wilm. A Newbern Atlantio Coast
Line RR.
Worcester Nashua A Rochester
Boston A Maine.
2»besville A Western
Toledo A Ohio Central.
Industrial and
Utility Properties.
High-Grade Investment
Securities
York, Philadelphia and Pittsburgh Stock Exchanges
Broad & Sansome Sts.
33 Pine Street
PHILADELPHIA
NEW YORK
Washington
©t
Pacific Gas A Electric Oo.
...Bangor & Aroostook RR
National Railways of Mexico.
Vera Cruz to isthmus
National Railways of Mexico.
Verdigris Val. Independ'oe A West.-Mlssouri Pacific.
Vicksburg A Meridian*..
Alabama A Vicksburg.
Victoria Rolling Stock
..Canadian Pacific.
Virginia Air Line
Chesapeake A Ohio.
Virginia Midland
Southern Railway.
Bur en
Underwrite Entire Bond Issues of Railroad,
Members New
Mia
Verz Cruz A Pacific RR........
Mmoml&CQ.
Public
Oo.
Union Oil Oo. Inc of
California
General Cigar Co., Inc.
Associated Dry Goods
Corporation
United Cigar Manufacturers
United Dry Goods Companies
Wichita A Midland Valley
Wickwire Steel Co
Wilkes-Barre A Eastern
Willmar A Sioux Falls.
Stephenvllle North A South Texas. St. Louis Southwestern Ry.
Sturgis Goshen & St. Louis
New York Central RR.
Suburban Light & Power Co...—..Pacific Gas & Electric Co.
Sullivan Co.
Terre Haute A Indianapolis
A Oklahoma
—
Missouri Kansas & Texas Ry.
..Bethlehem Steel Corporation.
Standard Steel Works
Staten Island Ry
Suffolk
Under—
—
Chicago & North Western.
Bay & Southern
Somerset Ry
South Carolina
g
Texas & Pacific Coal Co
Toledo Canada Southern A
Toledo & Cincinnati RR
an
...East Broad Top RR. A Coal Co.
.Union Steel Co.
Shreveport Bridge & Terminal
Sodus
eusauehanna Bloomsb
Will be Found
Pennsylvania
-Chicago St. Paul Minn. & Om. Ry.
A Berwick .Pennsylvania RR.
\/alley Counties Power Co
▼
American Chicle Co.
Sharon Coke Co..
Sherman Shreveport & Southern
Sioux City
Name.
hmbury & Lewiston
Superior Short Line Ry
Northern Pacific.
St. Paul
Seaboard
251
Pittsburgh
Wilmington
Baltimore
252
Bank and
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