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T W O SgC T T Q W B — S E C T IO N T W O .
GENERAL. INDEX
RAILROADS AS RELEASED FROM FEDERAL COW
TROL—TRANSPORTATION ACT OF 1920, &C ■
STEAM RAILROADS
-
-
-
-
-
8-137
-
140-243
NEW YORK AND BROOKLYN BANKS
-
NEW YORK AND BROOKLYN TRUST CO’S N . Y. AND BROOKLYN FIR E INSURANCE GO’S
IN D EX TO COMPANIES CONSOLIDATED
•
245-247
W I H 1 A M B. DANA COMPANY. P 1 B M S H E B S ,
FEOHT, Punt * D*FBY«r*» 8 m , N*w Y®mm.
_
, _
,
,
t 1 ______________________________
Wm. A. Read & Co.
Investment Securities
NEW YORK
CHICAGO
PHILADELPHIA
BOSTON
LONDON
Bo n b r ig h t & C o m p a n y
Incorporated
25 Nassau Street, New York
BOSTON
PHILADELPHIA
CHICAGO
LONDON
William P. Bonbright & Co.
DETROIT
PARIS
Bonbright & Co.
Investment Securities
Descriptive list #n request
BROW N B R O T H E R S & CO
PHILADELPHIA
NEW Y O R K
ankjl
ba^
r V W l P W m VflOTWKIwf 9IS«
Um
BOSTON
M WALL STREET.
M S ta t. St.
AMD
ALEX. BROW N & S O N S . Baltimore and Calvert Sts.. Baltimore
ALL OOnXCTXD BY PBZVAYB WDUL
a M m of the Bow Took, rh flid iip h li, Boston and Baltimore Book Exchangee.
faw w tf OrdUro oo Comml—torn far htrdM M sad Sale of Stocks, Honda, and «0 Invoatmant SoewritiM.
Bflk of Exahanga Bought and Sold. Traveler*’ Choeks* Cartifieatec of Dopoott*
O o ito rifol Letter* of Orodlt sad Traveler** Letter* of Credit baaed, available tn sB p a rti of tha World.
OoBoottoao BEsde oa aH potato; Telegraphic Tran*for* of Money made between tfal* Country and Europe.
Aaoouats of Amorlssn Banks, Bankers, firm s and Individuals reoeivod upon fsvosabls
Brown. Shipley A Co., Founders’ Court Lothbury, E. C , London
The National City Company
National City Bank Building
N ew York
Uptown Office: 514 Fifth Avenue, at 43rd Street
PR IN C IPA L CORRESPONDENT O FFICES
C IN C IN N A T I, OHIO
ALBANY, N . Y.
LOS ANGELES, CAL.
PITTSBU RG H , PA.
Pourth N at. Bank Bldg,
Ten Eyck Bldg.
507 So. Spring St.
Farmers’ B ank Bldg.
CLEVELAND, OHIO
ATLANTA. GA.
M ILW A U K EE. W IS.
PORTLAND, ME.
Guardian Bldg.
140 Peachtree St.
First Wis. N a t. Bk.Bldg.
Union M utual Bldg.
D EN V ER, COLO.
ATLANTIC C IT Y , N . J.
M INN EAPOLIS, M IN N . PORTLAND, ORE.
Chalfonte Block
718 17th St.
Builders' Exch. Bldg.
Yeon Building
D ETR O IT, M ICH .
NEW ARK. N . J.
BALTIMORE, M D .
PRO V ID EN CE, R. I .
147 Griswold St.
Charles & P ayette Sts.
790 Broad St.
Industrial T rust Bldg.
NEW ORLEANS, LA.
HARTFORD, CONN.
BOSTON 9, MASS.
RICHM OND, VA.
Conn. M utual Bldg.
10 State S t .
301 B aroane St.
923 East M ain St.
OMAHA, NEB.
INDIANA POLIS, IN D .
BUFFALO, N . Y.
ROCHESTER, N . Y.
Fletcher Sav.& T r. Bldg,
First N at. Bank Bldg.
EUicott Square Bldg.
Wilder Bldg.
KANSAS C ITY , MO.
P H ILA D ELPH IA , PA.
CHICAGO, ILL.
SAN FRANCISCO, CAL.
1421 C hestnut St.
1017 Baltimore Ave.
137 So. La Salle St.
424 California St.
M ONTREAL, CANADA, 74 Notre Dame S t., W est
TORONTO, CANADA, 10 Wing
Bonds
Short Term Notes
SEATTLE, WASH.
Hoge Bldg.
S PR IN G FIE L D , MASS.
Third N at. Bank Bldg.
ST. LOUIS, MO.
415 Olive Street
ST. PAUL, M IN N .
State Savs. Bank Bldg.
WASHINGTON, D. C .
741 15th S t., N . W.
W ILKES BARRE, PA.
Miners’ Bank Bldg.
LONDON, E . C ,, 2, E N G .
34 Bishopsgate
S t., E ast
Acceptances
1
United States Bonds
Foreign Government Bonds
Railroad, Municipal
AND OTHER
Investment Securities
Harvey Fisk & Sons
32 NASSAU STREET
NEW YORK
Our List of Investment Securities Sent
SIMON
3IEMBERS
-
-
OF
NEW
YORK
Application
&
BORG
CEDAR STREET
46
on
STOCK
NEW YORK
■
-
-
CO..
EXCHANGE.
Investment Securities.
Sigh-Grade Bonds and Guaranteed Stocks tor Savings Banks, Institutions, Trust Estates
and
LIST
INVESTMENT
OF
5
Specialty.
OFFERINGS SENT
Information
PHILADELPHIA
guidance
is
of
COMMERCIAL TRUST BLDG.
STREET
for
in¬
APPLICATION.
ON
YORK CITY
NASSAU
vestors
a
D. Converse & Co.
a
NEW
Individual Investors
bonds
AND
Our Statistical Dept.
is
always
available.
at
the
banks,
PREFERRED
service
of
trustees 'and
individuals.
SHARES
PUBLIC UTILITY SECURITIES
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\
Codes: Western Union
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Diversified list of offerings furnished.on application
Jfartifjd*'7
RAILWAY AND INDUSTRIAL
SECTION
op the
OMMERCIAL &
flNANCIAL (^HRONICLE.
Copyrighted In 1920 according to Act of Congress, by WILLIAM B. DANA
COMPANY. In office of Librarian of Congress, Washington. D. O.
Vol. 110.
NEW YORK, MAY 29,
Railway
Industrial
and
trol Act. with which such a 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 a deficit in railway
operating income, that there
shall be a guaranty by the U. S. of the amount by which the deficit for the
Section.
The Railway and
guaranty period as a whole exceeds one-half its average annual deficit for
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
Industrial Section, Issued twice a year on the last
Saturday of May and November, is furnished without extra
charge to every
annual subscriber of the
Commercial & Financial
Chronicle.
The Railway Earnings
Section, issued monthly, containing the sworn
of earnings and
expenses filed each month with the Inter-State
Commission, is also furnished without extra charge to
the period of Federal control.
With respect to a carrier not entitled to just compensation under the
Federal Control Act, which for the test period as a whole had ah average
annual railway operating income, the conference bill provides that the
returns
Commerce
annual
every
Chronicle subscriber.
The Electric
_
October,
Railway
Section,
is likewise furnished
Issued
without
twice
extra
subscriber.
a
charge
in
year,
to
April
and
Chronicle
every
The State and City Section, issued
semi-annually on the last Saturday
June and December,
is also furnished without extra charge to every
of
subscriber' of the
Chronicle.
Is also furnished without extra
charge to
ion,
Chronicle subscribers.
the Chronicle
including the six Supplements above named,
are Ten Dollars
per annum within
the
United States,
$13 50
(which
Includes postage) In
Europe, and $11 50 in Canada.
,
Kle covers for the Chronicle are sold
at
$1 00 each (which Includes
File covers for Supplements can be had at same
price.
postage).
LONDON OFFICE.—Edwards &
Smith,
1 Drapers' Gardens,
E.G.
WILLIAM B.
DANA COMPANY, Publishers,
Front, Pine and Depeyster Streets, New York.
RAILROADS AS RELEASED FROM FEDERAL CONTROL
—TRANSPORTATION ACT OF 1920.
on
operation
as
one
by
system
the United
States
far
Railroad
till in its control (numerous
as
pur¬
to
a
proclamation issued
on
Dec.
1919
24
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.
The following *analysis outlines in a brief and concise
way
the principal features of the Railroad Bill:
COMPENSATION FOR FIRST SIX MONTHS.—Railroad companies
signifying 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
same rate as their compensation
during that control.
Roads
Declining Extension of Government Guaranty to Sept. 1 1920.
[Table Inserted by "Chronicle."]
Alabama Great Southern
Atlanta & West Point
Atlantic City RR. Co.
Bessemer & Lake Erie
New York
Chicago & St. Louis
Duluth & Iron Range
Duluth Missabe & Northern
Elgin Joliet & Eastern
Long Island
Louisiana & Arkansas
New Orleans & Northeastern
economical
an
annual
management
net
& Potomax RR.
St. Louis Southwestern Ry. Co.
St. L. Southwestern Ry. of Texas
Southern Railway
West Jersey & Seashore
Western Pacific
Western Railway of Alabama
and reasonable
railway operating income,
To this end the Commission,
maintenance
as
nearly
as
expenditures,
be, to a
may
holding in the
case
of the
Kansas City Southern RR. that present value of
right of way and terminal
be considered in rate making was given in V.
110, p. 1046.
See
"Valuations" below.]
RETURN ON CAPITAL FOR FIRST TWO YEARS.—During the
two years beginning March 1 1920 the Commission shall
adopt 5H% as a
fair return on the actual value of railroad
properties and at Its discretion
may add a sum not to exceed a total of H % tor
improvements, bettenments
or equipment chargeable to
capital account.
I)
SPECIAL PROVISION IN CASE
OF SHORT LINES, &c., NOT
HERETOFORE ENTITLED TO ANY COMPENSATION.—For the
half-year ending Sept. 1 1920 it is provided (Sec. 68) "with respect to any
carrier, whetner or not entitled to just compensation under the Federal ConThis analysis, slightly amplified and with several
explanatory interpo¬
lations, is transcribed from the excellent compilation made by the Equitable
Trust Co. of New York, giving the text of the Transportation Act of 1920,
witniannotations.igeneral index, &c.
is less than 6% of the actual value of the railroad's property, and
after the Reserve Fund has been accumulated to the extent of 5%
value of its property for any lawful purpose.
USE
OF
GENERAL
RAILROAD
CONTINGENT
(fi)
of the
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
Commission.
The terms and the security from 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 or betterments may be funded for a period of ten years (or less
at
option of company) from the termination of Federal control with interest
6% per annum, subject to the right of the carrier to anticipate the pay¬
ment of the whole or any part of the indebtedness.
Any remaining debt
to U. S. to be evidenced
by 6% notes running
CONSOLIDATION OF
TROL, &C.—The
prepare and adopt
RAILROAD
Inter-State
a
one year or
less.
PROPERTIES—STOCK CON¬
Commission
is
directed
to
Commerce
plan for the consolidation of railroad properties into
limited number of competing systems, and consolidations are authorized
when in harmony with the plan so adopted and approved by the Commis¬
sion.
(Compare Mr. Hines's recommendation V. 110, p. 134.)
The Commission shall
of
one
wise.
also pass on any proposed measures for the control
road by another by consolidation, lease, stock ownership or other¬
In any consolidation the total amount of outstanding stock and
bonds of the consolidating company shall not exceed the value of the con¬
solidated properties as determined by the Commission.
JOINT USE OF 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¬
able distance outside of such terminals as in its opinion will best meet the
emergency
and
serve
the public interest.
FEDERAL REVOLVING FUND.—A revolving fund amounting to
$300,000,000 is created.
Carriers may within two years after the passage
of this Act, after hearing before Inter-State Commerce Commission, secure
loans for not exceeding five years at 6% to enable them to properly serve
the public during the transition period.
(In May 1920 it was proposed to
extend the time mentioned from 5 to 15 years.
See article headed "Addi¬
tional Federal Appropriations" below.)
A further fund of $2oO,000,000 is
appropriated for the financial settlement
of matters arising out of Federal control.
[See additional deficiency appro¬
priation in article referred to in preceding paragraph.—Ed.]
INTER-STATE
COMMERCE
COMMISSION
MAY
INITIATE
RATES.—In the exercise of its power to prescribe just and reasonable
rates, the Inter-State Commerce Commission can initiate as well as modif*
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.
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
appeal is created with power to hear disputes
The members of this board, three of whom are to represent labor,
three
railroad managers, and three the public, to be appointed by the President
and confirmed by the Senate.
There are no penal provisions for the
enforcement of the decisions of this board.
(See names of board under
article entitled "Railroad
Wages" below.)
INTER-STATE
COMMERCE
COMMISSION
MEMBERSHIP.—
The Inter-State Commerce Commission is enlarged from nine to eleven
members.
pending the completion of its valuation of
must
*
General Railroad Contingent Fund.
central railroad labor board of
and initiate investigations.
the railway properties in the United States, is
required to make tentative
valuations of the several roads as a basis for rate making.
[The decision
of the U. S. Supreme Court on March2 1920
on
a
CONTROL OVER SECURITY ISSUES.—The Inter-State Commerce
Port Reading
Rich. Frederick.
fair return upon the aggregate value of the
property of such carriers held
for or used in the service of transportation.
special article
year
Marquette
Perkiomen Railroad Co.
RATES MUST BE ADJUSTED SO AS TO YIELD A FAIR RETURN.
—Rates shall be adjusted from time to time so that the carriers as a
whole,
or as a whole in each rate
group or territory, will, under honest, efficient
earn
into
go
USE OF 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 for
leased roads to the extent that its net railway operating income in
any
stud
Northwestern Pacific
Pere
,
Carolina CJinchfield & Ohio
Cine. New Orleans & Texas Pacific
and
a
a
so
short lines having previously been
surrendered), restored to
their owners.
Federal control was thus terminated
suant
DISTRIBUTION OF EARNINGS IN EXCESS OF 6%.—Net railway
any year in excess of 6% of the value of the property
as follows:
(a) One-half of such excess shall be placed in
Reserve Fund maintained by the railroad; (b) the remaining one-half shall
shall be utilized
at
On March 1 1920 the railroads of the United
States, which
Jan. 1 1918, as a war measure, had been taken over for
Administration were, in
guaranty shall be not less than one-half the average annual railway operating
income of such carrier during the test period.
[Compare statement by
Representative Glass in special article "Deficit Under Goyernment Opera¬
tion of Railroads" below—Ed.]
operating income in
The Bank and Quotation Section, Issued
monthly, is likewise furnished
without extra charge to
every subscriber of the Chronicle.
The Bankers' Convention
Section, issued yearly, giving the detailed
proceedings of the annual convention of the American Bankers' Associat
Terms for
No. 2866.
1920.
Explanations by Senator Curam ns.
Explaining the required rate adjustment of the first two years under the
Act, Senator Cummins said (V. 110, p. 820):
|
"Section 15A is not a guaranty and apes not approach a guaranty even
Not a dollar is to be paid from the U. S. Treasury on account
of its provisions and no obligation whatever on the part of the Government
A
remotely.
S
CT6&tcd#
"It is
a'direction
to
an
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 railway
company any given net operating income, for the income depends wholly
upon the location of the railway, the population it serves, the volume of its
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 and about $50,000,000 more in the aggre¬
gate than the basis of the test period as defined in the Federal Control Act,
Assumption of
The Act of Congress approved March 21 1918 (cited in V 106, p. 1421)
authorized the President
to agree with and to guarantee" to any carrier
"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
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."
and that "any railway operating income during the period of Federal
control in excess of such just compensation shall remain the property of
the United States.
In the computation of such income, debits and credits
arising from the accounts called in the monthly reports to the Inter-State
Commerce Commission equipment rents and joint facility rents shall be
included."
In a few cases for special reasons extra
compensation was
granted.
Disputes, however, arose and when Federal control was termin¬
ated Feb. 291920 there still remained a number of roads concerning which
the question of compensation, whether the standard return, or a larger
sum, was still to be determined.
Out of the aforesaid compensation as supplemented by the company s
non-operating income, including interest and dividends on any bonds or
stock owned, and other outside items each company was required to pay all
Federal (war) taxes, interest and other fixed charges, and also any dividends
.
.
on their capital stock.
list of the compensation
allowed
A
by the Railroad Administration to that amount, and
over to the
Railroad Administration $90,000,000
held
Federal Control.
proclamation of President Wilson assuming control of the roads was
See V. 105, p. 2509: V. 106, p. 35: V. 108, p. 2081.
The Act of Congress, providing the basis for Government control, was
given in Y. 106, p. 1091, 1193, 1421.
It became a law March 21 1918.
CONTRACTS FOR GOVERNMENT CONTROL—RENTAL PAY¬
MENTS.—The form of contract which the Government executed, with
slight variations, with the railroads in its possession, will be found in
V. 107, p. 1157, 956.
The
dated Dec. 26 1917.
.
turn
to
appropriation is supplementary to the $1,450,000,009 which had
previously been made available, viz.: (a) the $5O0,OOO,00O Revolving Fund
provided under the Federal Control Act; (6) the $750,000,000 called for in
the bill which became a law last June 1919; (c) $200,000,000 carried in the
Transportation Act of 1920, (along with the $300,000,000 of direct appropria¬
tions under said Act for the making of loans to the roads and paying on
judgments that might be obtained in connection with Federal control.)
With the amount just granted, the total appropriation in behalf of the Rail¬
The
road Administration will reach $1,840, 00,000.
In nis communication to the Secretary of the Treasury,
of the Railroad Administration, no
ment of the claims on
property during Federal control.
The loss resulting from Governmental
operation of the railroads is placed
His letter also shows $966,803,363 owing
money advanced for
operating expenses and betterments.
Ultimately this fund will be repaid.
It is pointed out that under the Transportation Act $270,079,575 of the
56,803,363 due the Government by the roads will be funded for ten
years.
An additional $367,806,968 advanced for equipment purposes, will
be payable in fifteen annual installments.
In addition, the Government has
sold $144,422,526 of one-year notes of the carriers, $44,433,664 of long-term
notes, $35,221,199 of stocks, bonds or receivers' certificates, and $90,258,305
as "miscellaneous investments," chiefly Liberty Bonds.
The water-ways
by Mr. Hines at $900,478,756.
to the Administration by the
■
to the Government
owe
contracts finally executed up to May 7 1920
of the compensation agreed upon on an¬
of this section.
special article showing the relation of the net Federal income of the
several Class 1 roads (those earning over $1,000,000 gross per annum)
in the years 1918 and 1919 will be found on page 14 of the "Railway Earn¬
ings Section," issued on May 22 1920.
Two standard forms of co-perative short line contracts wore adopted
for roads not under Federal control (neither of these calling for payment
of any Government compensation. V. 108, p. 235, 840, 841; V.107,p.l7l7.
The Transportation Act of 1920, it will be observed, makes special pro¬
vision for the short lines, &c., not previously entitled to compensation from
A
Government.
Estimate by
to
the above-mentioned section.
The need for this
panies...
.
AFFECTING REVOLVING FUND.
Legislation extending the
fund provided for
use
in the Transportation Act from five to
and otherwise amending the law, was agreed
The proposed legislation was designed to aid
May 12.
shortage situation.
the railroads and shippers in the car
Cummins
the
Bill
tures for other purposes than "additions and betterments."
The Trans¬
portation Act now provides that amounts due the carriers may offset
amounts due the Government for either additions and betterments or "other
indebtedness."
The effect of the proposed amendment Is to give the rail¬
roads the right to extend payment of indebtedness due the Government
for "additions and betterments" over a period of 10 years at 6% interest,
rather than have the Government deduct the amount of such particular
owes
the railroads.
Terms of
the Funding.
Also, the 10-year funding may be upon such "terms" and in such "form
as the President may prescribe, which change will modify the requirements
in the existing law as to "security" for the loans, the word "security" being
eliminated as concerns the funding of existing indebtedness.
Section 210a of the Act is amended by the Cummins Bill to permit the
r ailroads to meet maturing indebtedness or to provide equipment or other
a dditions and betterments from Government loans.
This phrasing clears
an objection raised by the Treasury Department as to limitations on the
of borrowed money.
us e
Section 210b is changed to extend from five to fifteen years
which new Government loans can be repaid, provides that the
fund and
accept the security prescribed by the Commission.
The Secretary, by the
amendment, will not longer have a voice as to the character of the security,
a lthough he will prescribe the "form of the obligation."
It is estimated that upon the completion of the financing now contemJated the national Government will hold liens aggregating one-twentieth
the Treasury "immediately" to make the loan out of the revolving
.
the total value of the railroads of the country.
also
"Equipment
Trusts"
as
a
Government loan
on
account
of
(including $3,479,011
The Association of Railway Executives has recommended
administration the $300,-
000,000 revolving fund be considered
as
arily
1940):
as
follows (compare V. 110,
p.
apportioned tempor¬
(a) Temporary reserve for claims and judgments $40,000,000.
(&) Appropriation for short-line railroads, $12,000,000.
(c) Temporary reserve for maturities, $50,000,000.
(a) Appropriation to aid in acquisition of equipment, $125,000,000.
(e) Appropriation for additions and betterments which will promote the
movement of cars, $73,000,000.
If the recommendations made above be accepted, the Inter-State Com'
merce Commission
can proceed immediately to put approximately iwothirds of the loaning fund at work to enable the companies properly to
serve the public during the transition
period immediately following the
termination of Federal control.
,to be yet expended in
prior to March 1
1920)
$14,581,126
Miscell. investments (chiefly Liberty bonds)— 90,258,305
Profit and Loss Account.
Estimated
of
excess
operating
expenses
and rentals over oper¬
ating revenues;
(a) Class (1) railroads
$677,513,152
(b) Other privately owned properties
(smaller railroads,
43,011,129
2,449,739
13,954,980
38,111,742
sleeping and refrigerator car lines and steamship lines)
(c) Inland waterways
(d) Expense of central and regional organizations
(c) American Railway Express Co
Other profit and loss debit balances:
Adjustment for materials and supplies in settlement with
railroad companies on account increasing prices..—_.
Net interest adjustments and miscellaneous income debits
85,204.618
40,233,396
and credits.
Total
$900,478,756
profit and loss debit balance
966,803,363
Total of items of indebtedness & investment (item 11)
Administrative
expenses
from March 1
Grand
Railroad Administration
of the
1920 to Jan. 1
3,445,222
1921
$1,870,727,341
total requirements
Original appropriation, Federal Control Act.-$50^,000,000
Deficiency appropriation
750,001,000
Appropriation carried in Transportation Act
of 1920
200,000.000
Total
$1,450,000,000
appropriations
Estimated amount required to enable Railroad Administratio to fund certain indebtedness of the railroad companies
in accordance with the
Transportation Act and to defray
the costs of the Federal control
^
*—
$390,000,000
Estimate of the amount of the appro¬
affairs of the Railroad Administration,
[Amount just appropriated againse same.—Ed.]
In
connection with the foregoing
priation required to liquidate the
no
allowance has been made for the settlement
of claims on the part of the
corporations for undermaintenance of their property during the period of
Federal control.
While there may be such claims on the part of some
(corporations, there will be, on the other hand, claims by the Government
against other corporations for maintenance of the property in excess of the
contract requirements which may require the payment of sums by the cor¬
porations to the Government.
In the absence of final figures it seems best
not to make any estimate of the net amount required to settle maintenance
claims.
[See also article on "Equipment Trusts" below and also estimate of
Representative Glass in article on "Loss from Government Control of
Railroads"
on
a
closing page of this
Section.1
LOSS FROM GOVERNMENT CONTROL OF RAILROADS.
An article with this
ADDITIONAL FEDERAL APPROPRIATION FOR RAIL¬
^
$966,803,363
Total of items of indebtedness and investment
sug¬
gested expenditure of $500,000,000 for additional rolling stock.
that for purposes of immediate
35,221,199
satisfaction of contracts made
below with reference to
$125,000,000 out of the $300,000,000 revolving fund should
applicable
144>422,526
44,433,664
railroad com¬
Other investments of Railroad Administration:
recommendation of Inter-State Commerce Commission that
be
367,806,968
evidenced by one-
.
indebtedness of railroads and other
n
properties, including express companies
$861,963,932
Inter-State
Commerce Commission certify its faith m the security offered and that the
are unable to secure loans elsewhere, and to direct the Secretary of
See
-—
270,079,575
Total representing
the time in
railroads
f
—
panies owned by Government.
as
Government,
indebtedness from what it
...-
notes.
Long-term notes payable to Government
Stocks, bonds, and receivers' certificates of
year
495,741,875
Additions and betterments to inland waterways
introduced provides that amounts due carriers
obligations incurred during Federal control, be
offset against amounts due to the Government because of railroad expendi¬
The
from
annual Installments
fifteen
Other indebtedness due Government to be
by the Senate Committee on Inter-State Commerce
upon
___.
.
Net amount of advances for additions and betterments to
roadway and structures and equipment (except allocated
equipment) to be funded for ten years
Advances for purchase of "allocated" equipment which has
been funded through equipment trusts, principal payable
in
of the $300,000,000 revolving
and other proper¬
for additions and better¬
ments to roadway and structures and equipment (except
funded allocated equipment)
$765,821,450
Amount of probable deductions therefrom on account of
compensation, depreciation, open account, &c., due com-
Total advances by the Government
Washington, D. C.
TRANSPORTATION ACT
statement
Railroad Administration.
appropriation Is explained by the following
ties, including express companies;
(effective May 192Q).
Director-General, Briee Clagett.
Finance Committee:
John Skelton Williams, Chairman; Franklin Q. Brown,
Frederick W.
Scott.
Division of Finance, Swagar Sherley, Director; Charles B.Eddy,
Associate Director; D. C. Porteous, Assistant to Director; Ralph Blaisdell,
Treasurer.
Advisory on Accounting, Charles A. Prouty.
Headquarters
Inter-State Commerce Building,
l$th and Pennsylvania Ave., N. W.
PROPOSED AMENDMENT TO
Needed
Administration.
[The appropriation of $390,000,000 was granted on this showing.—Ed.]
I have the honor to submit herewith an estimate in the sum of $420,727,341 to be immediately available and to remain available until expended,
and to be added to and considered a part of the moneys provided for in
Section 202 of the Transportation Act of 1920.
This additional sum would be expended in the same manner and for the
same purpose and under the same conditions as the amount appropriated m
the
fifteen years,
$14,581,126.
Director-General April 2 That $420,727,341 Was
Liquidate Affairs of U. S. Railroad
Indebtedness to the Government of railroads
United States Railroad Administration.
to
roads, representing
showing the transactions of the United States
Director-General of Railroads John Barton Payne
Assistant
Mr. Hines stated
required to liquidate the affairs
allowance has been made for the settle¬
the part of the roads for under-maintenance of their
that in nis estimate of the appropriation
other page
U. S.
V. 110, p. 1492, 2041.
for those bonds.
will be found with the amounts
on
[Vol. 110.
RAILWAY AND INDUSTRIAL SECTION.
4
caption will be found at the back of
this Section.
ROADS ON ACCOUNT OF ADVANCES, OPERATING
signed
appropriations to supply
for
the
Federal
appropriates
makes
control
a
of
$300,000,000
available
on
May 8 1920 the bill making
deficiency in the appropriations
railroads.
the
for
such
$90,000,000 in
War Finance Corporation to buy
RAILROAD
&C.
DEFICIT,
President Wilson
This
deficiency,
cash by
new
and
In
organized
as
below stated in accordance with the Trans¬
Act
portation Act of 1920,
also
demands
authorizing the
Liberty and Victory bonds
WAGES.
May 1920 the United States Railroad Labor Board,
of
was
the railroad
holding sessions regarding the
empljOyees of all departments for
increased wages to a total of a billion dollars a year (com¬
pare
V. 110,
p.
46, 625, 929, 1044, 1045, 1379, 1714).
-f
May, 1920.]
RAILWAY AND
These demands had been deferred at the instance of the
President
the
of
United
being urgently pressed
States
from
The increases
were
living and to enjoy
the railroad
"comforts" of life.
While these
in progress
asked for
were
of the aforesaid Labor Board
the Inter-State Commerce Commission
on
account of
under the demands which
men
sidered by the Labor Board
Iconferenees
all
in May 1920 (see "Railroad
On this
was con¬
point E. T. Whiter, Chairman of the Conference
Committee of Managers,
necessary to cover the billion dollars of additional expenses
theretofore imposed on the railroads by the increase in wages
any
increased rates to the public for railroad
and cost of
for
See article
years.
headed "Railroad Rates" below.
As
of
wages in the automobile and other trades, as well as increased traffic,
the number of railroad employees had increased from 1,703,748 in Dec. 1917
high
to
1,953,571 in Jan.
1917 to $2,744,000,000 in i919, and in
by the wages in January, of $3,096,-
000,000 per annum.
In the same interval the average daily compensation
was increased from $3 52 in Dec. 1917 to
$5 15 in Jan. 1920 and the hourly
from 34.2 cents in Dec. 1917 to 57.1 cents in Jan. 1920.
The demand pending in May 1920 would increase the total payroll,
amounting in 1919 to$2,533,000,000,by $1,080,000,000, or 42.6%, as follows:
wage
_
Jan.'20
the
1919.
Wage
Jan.
to
1
The
advances have been
commonly stated
as
amounting to
average revenue earned per ton mile and per passenger mile.
The state¬
ment of the Railroad Administration pointed out that the increase in th«
Basis.
$1,410
Increases
roads.
case of freight rates and 50% in the case of passenger rates,
The true results are reflected in the increases which have occurred in thl
1915.
1917.
a
25% in the
Avge
Avge.
Avge.
$832
$1,349
2,873
2,141
2,232
Passenger locomotive engineers._ 4,400
3,129
2,542
1,850
1,966
Passenger conductors
3,800
2,730
1,026
1,703
1,093
2,500
1,816
Passenger brakemen
Time and a half wages were granted in December 1919 for overtime.
posed.
$2,000
Estimated
^
the actual result of advances in railroad rates under Government control ol
roughly, such as the following, compared with previous periods:
As Pro-
called
25%, effective June 10 and June 25, respectively.
V. 106, p. 2305, 2087,
2411, 2719; V. 107, p. 1625, 1626, 2340; V. 108, p. 134, 332, 445.
A statement issued by the Railroad Administration in Jan. 1920 showed
Increases to—
Amount.
Amount.
%
%
$175,000,000 42.17 Telegraphers
$43,000,000
48.2
Maint.of way men 421,000,000 66.40 Eng. & train men. 277,000,000
41.2
681,000
Shop men
163,000,000 25.30 Marine employees
The increase would enable employees to make average annual wages,
Increases to—
Clerks
as
Mr. Whiter estimated that for every
the carriers, an increase of 3% in
Accordingly
1920, and the total sums disbursed as railroad wages
Clerks
service,
by the Transportation Act of 1920 (see "Chronicle" of
$100,000,000 added to the payrolls
freight rates would be necessary.
30% rate advance would be asked if the Railroad Wage
Board should grant the full demands of the employees.
This would be In
addition to the 28% increase which the carriers are already demanding to
cover the payroll increases during the past two years.
Mr. Whiter stated
that in 1919 railroad wages totaled $2,744,000,000, or 53.6% of the gross
earnings, as against $1,135,000,000 and 39.5% in 1915.
On May 27 1918, following immediately his first increase in wages, the
Director-General issued orders increasing passenger rates from 2
cent#
to 3 cents a mile and freight rates on both inter-State and intra-State traffic
1917 and the decreased efficiency due to the war and inordinately
had grown from $1,739,000,000 in
1920 to an annual rate (as shown
called attention to the fact that
further increase in railroad labor cost must result in
May 29 1920.)
result of Federal control, the 8-hour day granted by the Adamson
a
law in
be granted to
being con¬
were
Wages" above).
were
sidering what increases in transportation rates would be
supplies during the past 2^
increased
In addition, provision must
be made for whatever increases in wages may
of the
some
so
theretofore incurred.
expenses
to enable the men to
as necessary
meet the increased cost of
July 1919 and
5
INDUSTRIAL SECTION.
mile had been from .715 cents per ton in 1917 per
mile, to .967 cents for the nine months ended Sept. 30 1919 [or 35.20%].
average revenue per ton
while the average revenue per passenger per mile had increased from 2.09
cents in 1917 to 2.528 cents for the nine months ended Sept. 30 1919 [or
20.9%].
1920.
Estimated Increase
Date Effective, in Ann.Payroll
Order—Employees Affected—
all employees receiving less
than $250 per month
Gen.
EQUIPMENT
27,
order
1918
Jan.
1918
Supplement No. 4, shop employees
Jan.
1918
Sup. No. 7 & 8, maintenance of way employees Sept.
1918
Supplement 13, agents and operators. _
_Oct.
Sup.
14,
17 amd 18, policemen, dining and
1919
sleeping car employees
Jan.
1919
Sup. 15 and 16, enginemen and trainmen
Jan.
Increase in pay under equal adjustment shop
1 1919
employees
_—May
Time and one-half for overtime allowed engine1 1919
men and trainmen in road freight
Dec.
Time and one-half for overtime and other ad¬
justments maintenance of way employees—Dec. 16 1919
Time and one-half for overtime and other ad¬
justments, clerks
_
L
Jan. 1 1920
Total
8,000,000
60,000,000
by
to
railroad
York
38,000,000
of
Dollar
Railroad
the
in
Went to
In 1918.
Labor
Fuel & loco,
54.06
supplies. 11.11
.14.40
2.02
3.87
In 1916.
40.60
Material & supplies.
Loss & damages.
Taxes
Total expenses
7.45
15.77
1.67
'
4.46
69.95
85.46
1916 and
The
the
8.74
Rent of leased lines._
2.59
12.48
3.96
.56
1.83
2.65
11.78
Available
reserves
for
100.00
100.00
Total..
same authority, omitting the official staff, estimated that the average
of 1,897,741 railway employees in 1918 was $1,416 a year and the
average per day was $4 52, against only $2 25 in 1908, an increase of over
100% in ten years.
United States Railroad Labor (organized under Transportation Act of
1920, V. 110, p. 1608).—Public Group: R. M. Barton of Tennessee, for
three years; G. W. Hanger of the District of Columbia, for two years;
Henry Hunt of Ohio, for one year.
Management Group: Horace Baker of Ohio, for three years; J. H. Elliott
of Texas, for two years; William L. Park of Illinois, for one year.
Labor Group: Albert Phillips, Vice-President of the Brotherhood of
Locomotive Firemen and Engineers, for three years; A. O. Wharton of
Missouri, railway employees' department of A. F. of L., for two years;
James J. Forrester, President of the Brotherhood of Railway and Steam¬
ship Clerks, Freight Handlers and Station Employees, for one year.
The
pay
RAILROAD RATES—INCREASE
The railroads of the country in
to the
PROPOSED IN MAY '20
May 1920 formally applied
Transportation Act.
required is estimated at $1,017,000,000.
freight rates for the roads in Eastern territory
South¬
territory at 23.91%.
(see "Chronicle" of May 29 and V. 110, p. 1937 to 1940.)
by the Railway Executives at 30.43%, in
territory at 30.95% and in Western
The railroads submitted
statements to show that their net income
in 1916
$1,056,000,000, and that in 1919 it fell to $510,000,000, notwithstand¬
ing an increased investment in these three years of more than $2,000,000,000.
But, they pointed out, if the present level of costs had been in operation
throughout 1919 the year's net would have been only $2?0,000,000, or a
little more than 1% on their property investment of $20,616,000,000.
was
Income Requirements as
Reported for Railways of Class I, II and III and
Switching ana Terminal Companies.
Eastern
invest..
opi inc.
Balance,
Southern Dist.
Western Dist.
$
Dist.
$
1*1919-9,368,698,698
on
United
$
States.
2,283,990,948 8,963,883,753 20,616,573,399
137,039,457
537,833,024
1,236,994,402
18,008,219
16,269,429
184,939,759
219,217,407
but
not
purchase
exceeding
1
to each road will
has
certain
agreed
"maximum
purchase
The title, also, to all of the equipment allocated
prices."
remain vested in the trustee until the road
duly paid off its entire issue of notes, principal and
interest.
I
The notes, while issuable from time to time as equipment Is delivered to
the roads, are all dated Jan. 151920, payable both principal and interest, in
Each issue will mature in fifteen equal install¬
1921 to 1935, both inclusive, and will bear
payable semi-annually, July 15 and Jan. 15 at
New York City.
They will be subject to re¬
demption at the option of the maker prior to maturity at 103 and interest
on any interest date after 60 days' notice, but only as entire issues.
There
are three trust agreements in all, one to cover the rolling stock already
delivered In full, another covering the cases in which only a part of the
equipment has been delivered and the third including the safes of equipment
to some six or eight receivership roads.
gold of present standard.
ments on Jan. 15 in each year,
interest at 6% per annum,
the office of the trustee in
In
ant
one
respect these note issues are unique.
the Government should be in
a
It is import¬
position to market
a
issue
maturing in
any year
544,113,702
.1,788,033,734
120,770,028
390,199,595
352,893,265
1,475,695,163
30.95
1,017,776,995
3,653,928,492
23.91
Per cent thereon
30.43
Note.—Eastern District
27.85
includes the Illinois Central lines north
District includes the Illinois Central lines
of Cairo,
south of Cairo.
after 1930
may
be stamped at the
request of the holder
notes
due from
latter the
more
1921
to
1930, inclusive, thus making the
readily saleable.
Statement which May be
For value received
Stamped
on
Notes Maturing After 1930.
and as an inducement to purchasers of unstamped
notes, the holder of this note has caused the same
to Article 11 of the Equipment Trust Agreement
to be stamped pursuant
mentioned in tne note,
and, as provided in said Article 11, the unstamped notes shall be payable
in preference and priority to the stamped notes out of any moneys received
or collected by the trustee under said Equipment Trust Agreement
upon
enforcement of its rights or remedies in case of a default of the
carrier.
[The trust deed further provides that such payments as to the unstamped
notes shall be made pro rata on all such notes and the coupons
thereon
with interest on overdue interest without preference between the unstamped
By
way
principal and interest.—Ed.]
of explanation tlfe trust agreements say:
suitable provision enabling the
The purpose of this Article 11 Is to make
holder of holders of said notes to induce purchases
making the same payable as
of unstamped notes by
aforesaid in preference and priority to stamped
received or collected by the trustee upon enforce¬
ment of its rights or remedies in case of a default of the carrier.
The
stamping of any such notes shall operate as an agreement binding upon
the holders of said notes and upon the trustee; but neither the stamping
of such notes not anything in tnis 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
stamped or unstamped, or upon any of the coupons for interest thereon.
notes out of any moneys
def.
and the Southern
of each road shall not exceed certain minimum
prices and later when determined the actual purchase cost
notes or as between
5
562,121,921
tobemet..
Total fr't rev.
equipment sold by him, with
[the Government or any financing
corporation to which it may assign the same] with the follow¬
ing words to indicate that they will rank subordinate as to
the payment of principal and interest to the unstamped
The increase in
net ry.
1668, 1955, 2406.)
and to adjust their income to the
6% income basis provided in the new
6%
p.
issuable to the Director-
able, and it is therefore provided that all the notes of any
The total increase
Item—
are
(leaving passenger rates unchanged), which
additional revenues needed to meet
increased operating costs
ern
equipment trust notes
large part of the notes whenever money conditions are favor¬
would afford them the
is estimated
companies named below and
in
Inter-State Commerce Commission for an increase
freight rates
This rolling stock
proviso that at the outset the aggregate amount in the
case
divs.,
& surplus.
leading
trustee, covering approximately $360,000,000 worth
General for the full value of the
Interest
80
ordered by the United States Railroad Administration
In 1916.
Betterments
some
rolling stock, built and building.
accepted by them. (Compare V. 109,
1918.
1918.
executed early in 1919
were
Railroads,
companies and the Guaranty Trust Co. of New
been allocated to the railroad
News and Statistics.]
In.
of
during the period of Federal control of railroads and it has
25,000,000
operating expenses.
Where
as
new
was
chargeable to capital
for labor used in construction work, but only amounts chargeable
[As compiled by Bureau of Railway
Director-General
the
50,000,000
These increases do not cover additional amounts
account
BY
AND LEADING
RAILROADS APPROXIMATE $360,000,000.
Equipment trust agreements
.$965,000,000
_
TRUST AGREEMENTS EXECUTED
THE DIRECTOR-GENERAL
$360,000,000
209,000,000
190,000,000
25,000,000
The
various
entered
which
companies
into equipment
trust
mum
and minimum amounts of
each is disclosed
NEW ROLLING STOCK,
Trust
1
4
Name of Corporation.
Alabama Great Southern RR. Co
Ann Arbor RR. Co...
Atlantic Coast Line RR. Co
---
4-A Atlantic Coast Line RR. Co
...
3
6
9
—
10
11
5
—
12
13
Chesapeake & Ohio Ry. Co., The
13-A Chesapeake & Ohio Ry. Co., The
19
Chicago Junction Ry. Co
Chicago Indianapolis & Louisville Ry. Co
Chicago Milwaukee & St. Paul Ry. Co
Chicago St. Paul Minn. & Omaha Ry. Co
Chicago & Alton RR. Co., The
Chicago & Eastern Illinois RR., Thomas D.
Heed, receiver
Chicago & North Western Ry. Co
Chicago & Western Indiana RR. Co_
Chicago Burlington & Quincy RR. Co
Chicago Great Western RR. Co
Chicago Rock Island & Pacific Ry. Co., The.
Cincinnati New Orl. & Tex. Pac. Ry. Co., The
Cleveland Cinn. Chic. & St. L.Ry. Co., TheColorado & Southern Ry. Co., The
27
Delaware & Hudson
75
28
Detroit & Toledo Shore Line RR___Detroit Toledo & Ironton RR. Co
29
Erie RR.
21
-
22
24
26
...
14
—
15
16
17
18
23
25
86
44
—
-
Co
Atlantic Coast Line RR. Co. and Louisville &
Nashville Railroad Co., Joint Lessees of
30
Georgia Railroad
Grand Trunk Ry. Co. of Canada
Grand Trunk Western Ry. Co
Great Northern Ry. Co
Hocking Valley Ry. Co
Hocking Valley Ry. Co
Illinois Central RR. Co
Indiana Harbor Belt RR. Co_
Kanawha & Michigan Ry. Co—-----Kansas City Southern Ry. Co., The
—
Kansas City Terminal Ry. Co
Lake Erie & Western RR. Co
Louisville & Nashville RR. Co.
Louisville & Nashville RR. Co
Maine Central RR. Co
Michigan Central RR. Co., The
Minneapolis & St. Louis RR. Co., The
Missouri Kansas & Tex. Ry., C.E.Schaff.Rec..
Missouri Pacific RR. Co.
Missouri Pacific RR. Co
Missouri Pacific RR. Co
-
84
83
31
32
32-A
-
33
45
46
34
35
47
37
-
37-A
38
-
48
39
40
41
41-A
41-B
803,340
10,744,675
310,015
6,561,925
715,805
8,762,610
1,040,095
5,654,805
-
—
—
-
41-C Missouri Pacific RR. Co
-
501.000
817,500
4,501,500
*510,740
54
55
56
59
49
50
65
51
71-A
71-B
71-C
71-D
71-E
66
67
9,117,000
565,500
1,023,000
954,000
187,500
640,500
7,599,000
2,869,500
1,203,000
5,495,775
1,565,973
5,118,000
817,500
1,429,456
2,669.014
1,261,500
2,547.000
2,547,000
2,550,000
1,203,000
579,000
493,500
2,689,014
2,671,947
2,696,020
634,991
—
69
1,183,500
898,500
3,027,000
4,294,500
1,321,500
1,489,500
983,585
3,278.585
4,632,716
1,372,505
1,617,120
10,103,597
658,680
1,159,797
995,242
219,560
701,307
8,279,590
2,869,809
1,315,169
—
63
2,505,000
1,297,500
13.674,000
4,306,500
6,885,000
132,000
271,500
52,012.000
9,127,500
582,000
2,800,500
984,000
370,500
2,830,500
2,830,500
2,830,500
2,830,500
2,707,500
1,650,000
10,293,000
2,814,000
817,500
70
Spokane Portland & Seattle Ry. Co
879,720
72
Terminal RR. Association of St. Louis,.
The Texas & Pacific Ry., J. L. Lancaster and
360,490
315,000
Wallace, Receivers
2,525,289
Toledo St. Louis & Western RR. Co., W. L.
Ross, Receiver
1,273,194
Toledo & Ohio Central Ry. Co
2,377,995
Virginian Ry. Co., The
1,839,160
Wabash Railway Company
12,111,160
Washington Southern Ry. Co
460,868
Washington Terminal Co., The
106,147
Western Maryland Ry. Co
921,735
"Wheeling & Lake Erie Ry. Co.. The.
4,918,370
2,392,500
73
C. L.
74
52
-
76
77
78
,
79
80
82
*
Notes issuable
The
now
During the
to
was
1,126,500
2,146.500
1.630,500
11,122,500
421,500
94,500
844,500
4,567,000
to limit improvements
Capital Expenditures During Federal Control.
I
Total
Calendar Year
1918.
2 Years.
1919.
$21,000,000
$10,000,000
$31,000,000
95,000,000
New lines, extens'sand branches
Additional tracks on main line,
150,000,000
40.000,000
33,000,000
102,000,000
145,000,000
40,000.000
225,000.000
357,000,000
Rails and other track material-
16,000,000
Bridges, trestles and culverts._
Stations and other buildings.__
Shops and engine houses
Other roads, &c., improvements
Improvements to existing equip.
New equip, purchased by railras
New equipment purchased by
24,000,000
19,000,000
44,000,000
75,000,000
19,000,000
161,000,000
55.000,000
24,000,000
16,000,000
14,000,000
58.000,000
70.000,000
21,000,000
64,000,000
118,000,000
239.000,000
592,000,000
571,000,000 1,163,000,000
yards and sidings
railroad
administration
Total
Estimated expenditures in Jan.
and Feb. 1920
Total period of Fed.
40,000,000
————
37,000,000
___
■
——
1,200,000,000
control..
There were ordered 1,930 locomotives and 100,000 freight cars of the
types believed to be the most urgently needed for war purposes.
These
freight cars consisted, of various types of box cars and open-top cars, but
did not embrace any refrigerator cars, tank cars, stock cars, or flat cars.
No passenger-train cars of any sort were purchased by the railroad admin¬
istration.
v
Deliveries
Total
of
During Period
Equipment
of Federal Control
[Including equipment purchased directly by the roads or constructed in
railroad shops.]
Purchased
Purchased
in Railroad
by Railroad
Total
by Railroads.
Shops.
Administration.
of All.
Locomotives
1,910
393
*2,114
4,417
Freight cars
25,600
12,909
95,704
134,213
Passenger-train cars
700
107
807
♦Includes 200 Russian locomotives leased from the War Department.
The equipment ordered by the Railroad Administration was allocated
to the various railroads according to its judgment as to their needs in so
far as not otherwise financed by the various roads, has been brought under
the equipment trust agreements mentioned below.
Samuel M. Felton, as Chairman of the Western Executives' Rate Com¬
mittee, in 1920 said that the executives had figured that tne railways of the
entire country need 100,000 freight cars, costing $370,000,000: 2,000 loco¬
motives, costing $130,000,000: 3,000 passenger cars, costing $90,000,000,
and 1,000 baggage cars, costing $20 000,000,
a total of $610,000,000.
Edward N. Brown, Chairman of the Railway Executive Committee, while
stating that the aforesaid equipment should be purchased this year, said
that the actual shortage in equimpent totals 226,000 freight cars, 9,450
passenger cars and 3,190 locomotives, and that to cover the same would
require an expenditure of $1,600,000,000.
—
VALUATION
In
a
in December
ers
that it would
RAILROADS.
Railway and Utilities Commission¬
1919, Director Prouty expressed his belief
require about two
of the field work to prepare
the
OF
letter addressed to the Valuation Committee of the
National Association of
years
after the completion
engineering reports
principal roads of the country.
upon
all of
In other words, it is
expected that the Division of Valuation will have ready for
the Inter-State Commerce Commission
accounting reports
upon
engineering, land and
all the principal carriers of the
country by Dec. 31 1921.
The
"Railway Age" of Jan. 2 1920 said in substance:
Work of field forces has been practically completed and parties now
disbanded.
being
,
Engineering reports on 75,000 miles of lines now completed.
55 reports
served on roads to date and 50 more completed tentatively.
While it is too early to draw final conclusions, total cost of reproduc¬
tion exceeds carriers' book investment in all but nine of the first 52 valua¬
tions served.
See table in "Railway Age" Jan. 2, page 116.
After the completion of its preliminary engineering report on the prop¬
erty of any carrier, it is the practice of the Division of Valuation to submit
it to the carrier informally to enable it to present any information which
may cause the division to revise the report, in this way correcting inaccu¬
and reducing the number of points in controversy to the minimum.
After revision, the report is then submitted to the carrier formally and
opportunity is offered it to file formal protests.
After passing on these
protests, the report is delivered to the Commission by the Division of Val¬
uation, after which time all hearings are before the Inter-State Commerce
racies
Commission itself.
$258,000.
Inter-State
Commerce
Commission
on
May 21
allowing the railroads
$125,000,000 out of the $300,000,000 revolving fund so that
NET
announced that it would recommend
further necessary
1918 the policy
year
necessities. The report further shows:
war
Constructed
■
Monongahela Ry. Co
535,560
Morgantown & Kingwood RR. Co
2,829,320
Nashville Chattanooga & St. Louis Ry__.
1,369,537
New York Central RR. Co., The
14,848,010
New York New Haven & Hartf. RR. Co., The
4,813,930
Norfolk & Western Ry. Co
7,673,680
Norfolk Southern RR. Co
137,250
Northwestern Pacific RR. Co
293,240
Pennsylvania RR. Co., The.
61,921,394
Pere Marquette Ry. Co
—
10,739,920
Pittsburgh & Lake Erie RR. Co
658,451
Pittsb. McKeesp. & Yough. RR., The.:
3,015,439
Richmond Fred. & Potomac RR. Co
1,075,358
Rutland RR. Co
409,160
St. Louis-San Francisco Ry. Co
3,030,130
St. Louis-San Francisco Ry. Co_
3,030,130
St. Louis-San Francisco Ry. Co
3,030,130
St. Louis-San Francisco Ry. Co
3,030,130
St. Louis-San Francisco Ry. Co
2,907,581
Seaboard Air Line Ry. Co
1,826,095
Southern Ry. Co.
10,977,193
Southern Pacific Company
3,072,450
53
741,000
9,973,500
279,000
6,060,000
'
651,000
8,117.250
957,000
3,912,000
60
.
1,039,500
16,444,500
2,352,000
1,816,500
565,864
879,720
4,958,442
544,135
Mobile & Ohio RR. Co
43
6,675,000
958,500
17,578,500
5,329,500
2,004,000
6,043,500
817,500
3,555,000
9,535,500
1,669,500
442,500
1,185,381
1,284,060
on
Approximately $1,200,000,000 has been expended in the period of Fed¬
for improvements of a character essential
handling of traffic for war purposes.
Of this amount about $140,000,000 has been paid through funds raised by the corporations during the
year 1918 improvements were limited to war necessities.
^
5,017,500
1,050,000
68
42
786,000
5,929,500
450,000
4,365,545
Company, The
-Fort Worth & Denver City Ry. Co
20
10,606,440
1,778,480
504,686
1,091,283
18,142.700
2,537,710
1,908,065
President
1043):
to the
$165,000
$170,985
862,502
6,273,773
450,035
Atchison Topeka A Santa Fe Ry. Co., The..
7,917,480
Atlanta Birmingham & Atlantic Ry. Co.....
1,026,242
Baltimore & Ohio RIt. Co., The
19.135,498
Boston & Maine RR
6,948,715
Buffalo Rochester & Pittsburgh Ry. Co__
2,263,456
Carolina Clinchfield & Ohio Ry. Co
6,792,625
Charleston & Western Carolina Ry. Co
879,720
Central RR. Co. of New Jersey
6,294,114
2
March 1 1920, said in brief (V. 110, p.
eral control by the Government
-Total Notes AuhorizedMaximum
Mitnimum
Amount.
Amount.
Eguip.
7
as
April 26 1920 to the Guaranty Trust Co., trustee:
No. of
85
Director-General Hines in his report to the
equipment notes issuable by
by the following official statement made
ADDITIONS, BETTERMENTS,
&c.
FOR
EXPENDITURES
agreements with the Director-General and the maxi¬
of
[Vol. 110.
RAILWAY AND INDUSTRIAL SECTION.
6
equipment
may
be purchased, and
pro¬
corporation to
INCOME
COMPARED
UNDER
WITH
From tabulations
GOVERNMENT
CONTROL
AS
THE GUARANTEED RENTAL.
prepared by the United States Railroad
posed the organization of an equipment
provide $500,000,000.
In regard to this corporation the
Administration, the "Chronicle" has compiled and published
Commission recommended
May 22 1920,
that
the railroads
should
take
stock in it
equaling 25% of the cost of the equipment with
money advanced by the Government up to $125,000,000.
The remaining 75% would be financed through trusts placed
on equipment to be built.
Alluding to the minimum needs of additional 2,000 loco¬
motives and 100,000 freight cars, the Commission, in their
statement of May 21, said:
/
Some of this equipment Is already being constructed or has been con¬
tracted for, but $125,000,000 is probably less than 25% of the cost of the
remainder, which has not been ordered.
It is evident that the equipment
required properly to meet the transportation needs of the public cannot be
secured unless the carriers, with the aid of the 25% to be advanced by the
Government, themselves assume the burden of financing the remaining 75 %.
"The $125,000,000 for equipment might best be disbursed through a
National Equipment Corporation in which the carriers would take stock for
25% of the cost of the equipment, the United States advancing the cash
for the stock up to $125,000,000 and the remaining 75% being financed
through a car trust.
Provision would have to be made for adequate per
diem rental
with such
an
arrangement.
"In the event this equipment
corporation cannot be organized, then the
fund should be distributed to those carriers who individually can meet the
Government's advances with large proportional amounts financed by
themselves.'!
,
on
pages
14 and 15 of its "Railway Earnings Section" for
a
statement showing for each of the Class 1
roads—that is, all roads
whose
operation exceed $1,000,000
gross revenues
per
Income for the calendar years 1919 and 1918,
with
the
"Standard
Return"
or
from railway
annum—the Net Federal
in comparison
Government
Guaranteed
Rental.
EARNINGS-RETROACTIVE MAIL PAY IN JAN. 1920.
Most
of
the returns of railroad earnings for Jan.
1920
showed extraordinary improvement in gross and net alike
as
compared with Jan. 1919.
in
January will affect the returns throughout the entire
1920 for all
As this apparent improvement
year
periods dating from Jan. 1, it is important to
point out that the increases follow in large part from the
'act that in the returns for Jan.
1920 there is 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 Inter-State Commerce
Compensation.
9,945,738 41
♦Cleveland Cincinnati Chicago A St. Louis................
Commission.
Muncie Belt Railway
The addition in this way to gross
and net was approximately
See "Chronicle" of March 6, page 933.
$53,000,000.
7
RAILWAY AND INDUSTRIAL SECTION.
May, 1920.]
POOLING OP EQUIPMENT—PER DIEM
CHARGES.—On June
17 1918 the Railroad Administration abolished the per diem plan of charging
for the use of cars between individual lines.
The ruling made all equip¬
ment common property so far as its use was concerned.
This change
affected the hire of equipment account which in the case of many roads
has often appeared in connection with the earnings as reported from time
time, either as a large credit or a large debit item according as the road
in question was amply supplied with rolling stock or was dependent to any
considerable extent on connecting lines for the cars used by its shippers.
In Oct. 1919 an order re-establishing the per diem system on cars was
Issued by Director-General of Railroads Walker D. Hines.
The treasurer of a 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¬
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
controlled 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 publisn any annual report for the years 1918to
1919."
These matters must be borne in mind when studying the gross and net
earnings for 1918 and 1919 as compared with 1920 and other years.
2,833,578 93
♦Colorado A Southern....:.
♦Wichita Valley
Cumberland A Pennsylvania Railroad
♦Delaware A Hudson Co
Greenwich A Johnsonville.
Schoharie Valley RR.
255,692110
7,480,204 83
.................
...
Cooperstown A Charlotte Valley.
Lake George Steamboat Co.
Champlain Trans. Co.
.
KK3
—15,749,476
Dennison A Pacific Suburban Railway
4,702
♦Denver A Rio Grande
8,319,376
♦Detroit A Mackinac Railway Company.................
310,664
♦Delaware Lackawanna A Western
15,729,068 09
♦Erie Railroad
♦Chicago A Erie
Escanaba & Lake
58,688 01
Superior
2,408,170 75
1,891,386 40
Gainesville Midland:.
22,731 58
Galveston Wharf Company (effective Aug. 1 1918)
526,069 92
Georgia & Florida Railway (effective Nov. 1 1918)
88,000 00
♦Georgia Railroad
858,622 42
Georgia Florida A Alabama Railway (effective Sept. 1 1918).
57,637 73
♦Florida East Coast Ry.
Co__
♦Fort Worth A Denver City Railway
Company
.......
127,366 25
Henderson RR
Houston A
514,890 43
♦Georgia Southern & Florida
♦Grand Rapids A Indiana
Green Bay & Western Railroad
as of May 7
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 below.
Indentations indicate subsidiary parties to the contract.
This
compilation
covers
Duluth A
special compensation, amounting in all to $92,318,789, 35 had been
allowed in part, totaling $7,493,619, 67 had been denied, totaling $45,686,277, and 8 had been withdrawn, totaling $553,754, leaving still pending
14 claims totaling $9,324,288.
In addition 13 railroads with claims above
the standard return aggregating $11,037,360 had applied for boards of ref¬
erees; one of these petitions had been dismissed, one agreement had been
reached and six additional cases were pending.
See V. 110, p. 427.
Montana
_
Santa Fe
♦Gulf Colorado & Santa Fe
♦Panhandle & Santa Fe
♦Atlanta Birmingham & Atlantic
♦Atlanta & West Point RR
480,000 00
Ry. Co
_.
*
—
252,995 16
$12,660 72
10,185,942 34
—
Atlantic & Western Railroad
♦Atlantic Coast Line Railroad
Washington & Vandemere
I
Tampa Southern
28,000 00
86,647 38
Augusta Southern Railway (effective Nov. 1 1918)
♦Baltimore
Chesapeake & Atlantic Railroad
30,031,009 14
♦Baltimore & Ohio
♦Staten Island
Rapid Transit Co.
Watertown A Sioux Falls
♦Coal & Coke
Long Fork Railway
•Bangor & Aroostook Railroad
Van Buren Bridge Co.
Bath & Hammondsport RR. Co
Bennettsville & Cheraw (effective July 1 1918)
Birmingham & Northwestern Railway (effective May 1 1918)
1,575,171164
7,221 43
29,077 92
34,522 86
9,832,490 52
Maine
Vermont Valley Railway Co.
Hamilton Belt Railway...,
County
♦Buffalo &
♦Hudson A Manhattan
592.627 53
409,397 76
Warehouse
'
-—--—-—
150,000 00
City Mexico & Orient Ry. Co. of Texas
♦The Kansas
^
296.053 57
1,596,945 98
Harbor Belt
♦International A Great Northern
♦Kansas City Mexico A Orient Railroad
.
127,081
1,548,541
Railway A Bridge Company
43,583
♦Lehigh A Hudson River Railway
.................
519,371
♦Lehigh A New England Railroad Company
—
1,135,760
♦Lehigh Valley Railroad
11,321,233
♦Los Angeles A Salt Lake Railroad
—
3,414,751
♦Louisiana A Arkansas Ry. Co,
359,362
Louisiana A Mississippi Railroad A Transfer Co..........
41,689
♦Louisville A Nashville Railroad
17,310,494
♦Louisville Henderson A St. Louis Railway—...........
343,915
Louisville A Wadley Railroad Company
5,367
Marquette A Bessemer Dock A Nav. Co
....—19,407
Lake Erie A Eastern
.....—........
....
...
♦Lake Erie A Western
-—.......
Leavenworth Terminal
06
69
48
13
91
25
10
34
33
67
53
23
63
49,543 23
Maryland Delaware A Virginia Railway
2,955,696 88
♦Maine Central
Memphis Dallas A Gulf Railroad..
28,295 70
....................
•Michigan Central Railroad
L__
.......
8,105,727
Chicago Kalamazoo A Saginaw
♦Mineral Range
144,005
Minneapolis A Eastern.*
.........
....
—.—30,332
♦Minneapolis A St. Louis RR..
2,812,008
Railway Transfer Co. of the City of Minneapolis.
Minneapolis St Paul A Sault Ste Marie Railway
10,547,428
♦Minnesota A International Railway Company............
202,455
Missouri A Illinois Bridge A Belt
♦Missouri A North Arkansas (effective Sept.
♦Missouri Pacific RR. Co
Arkansas Central
Southern
04
79
61
05
70
24
102,518 06
175,000 00
.....
24 1918)--
14,312,343 81
RR.
Natchez A Louisiana Ry.
A Trans. Co.
2,597.478 39
♦Mobile A Ohio
69
63
New Orleans Great Northern Railroad Co,..
64
♦New Orleans A Northeastern
42
575,951 79
1,204,992 06
.....................-.-.58,122,084 92
Kanawha A West Virginia
....
RR. Co
.....
♦New York Central Railroad
Sylvania Central
L 9,352,301 13
♦Central RR. Co. of New Jersey
♦Central Vermont Ry
Zanesviile A Western
$835,402 22
Central Vermont Trans. Company
Central Union Depot & Railway Co. of Cinn_.
♦Charleston A Western Carolina Railway.................
♦Chesapeake & Ohio Ry. Co
Chesapeake & Ohio Northern.
Chesapeake & Ohio Ry. of Indiana.
Chesapeake Steamship Company
♦Chicago & North Western Railway Company—
Missouri Valley A Blair Railway A Bridge Co.
114,842 27
466,921 15
13,888,418 76
♦Kanawha A Michigan
♦Toledo A Ohio Central
Susquehanna A Western...
Wilkes Barre A
17,095,884 34
2,103,589 41
...
999,941 74
.......
Eastern
Norfolk A Portsmouth Belt Line RR. Co
♦Norfolk A Western Railway
48,667 65
.....
................20,640,899 98
New River Holston A Western
Railway Company
Rapid City A Northwestern
Valley
Wyoming A Northwestern
Pierre A Fort Pierre Bridge A
Tug River A Kentucky
Virginia-Carolina Railway
Williamson A Pond Creek
Wolf River
♦Chicago A Western Indiana Railway
♦Chicago Burlington A Qulncy Railroad Company
.........
♦New York Ontario A Western
♦New York
102,048 99
.....23.364,028 55
850,000 00
New York Connecting RR. Co
............
♦New York New Haven A Hartford Railroad
Pierre
♦Norfolk
Southern
Carolina Railroad Co.
Carthage A Pinehurst RR. Co.
•Northern Pacific Railway
Central
Quincy Omaha A Kansas City
♦Chicago Great Western Railroad..
.....
2,953,449
♦Chicago Indianapolis A Louisville
—
1,620,258
Chicago Heights Terminal Transfer Railroad
67,131
•Chicago Milwaukee A St. Paul Railway Company........27,946,771
Tacoma Eastern Railroad Company
Bellingham A Northern Railway Company
Seattle Port Angeles A Western Railway Company
Milwaukee Terminal Railway Company
Puget Sound A Willapa Harbor Railway Company
Gallatin Valley Railway Company
Chicago Junction Railway
..................
916,804
Chicago River A Indiana Railroad Company..............
108,525
♦Chicago Rock Island A Pacific Ry__._.
15.880,681
•Chicago Rock Island A Gulf.
♦Chicago St. Paul Minneapolis A Omaha Ry
...........
4,934,789
♦Chicago Terre Haute A Southeastern Railway
.....
922,784
♦Cincinnati New Orleans A Texas Pacific Ry
3,596,924
Cincinnati Burnside A Cumberland River Ry.
30,130,0oo 31
........
Big Fork A International Falls
94
75
89
45
G ifmore A
Pittsburgh
♦Northwestern Pacific RR
Ocean
1.338,0006M
—-
Steamship Co. of Savannah
1,048,782 69
1,218,324 68
—-—-—
Pacific Fruit Express Co
Pacific Coast Railroad Co
♦Pennsylvania Lines (West)
Wheeling Terminal Railway
.......
,
_
114,080 63
15,154,719 81
—...—
Cincinnati Lebanon A Northern
Ohio River A Western
Manufacturers Railway
03
82
22
51
87
17
Northeastern.
.......................
1 280,000 00
...........
Kingston Carolina RR. Co.
1,509,530 17
33,390,079 61
Black Hill A Fort Pierre
Elevator &
Mississippi Valley Corporation
Indiana
Morgantown A Kingswood RR. (effective March 21 1918)..
51,362 93
♦Nashville Chattanooga A St. Louis Railroad............ 3,182,089 03
New England Steamship Company
.....——.
1,050,753 33
The Hartford A New York Transportation Company
New Bedford Martha's Vineyard A Nantucket S3. Co.
Wadley Southern
A
16,540,717 32
Chicago Memphis & Gulf
Dunleitb & Dubuque Bridge
306,259 63
...
Pittsburgh Railway................. 3,276,410
♦Carolina Clinchfield & Ohio Ry. Co
1,839,255
Carolina Clinchiield A Ohio Ry. of So. Carolina.
Black Mountain Ry. Co.
♦Central New England Railway..........
.....
.....
1,468,123
♦Central of Georgia Railroad
.....
3,444,158
Harriman
201,694 22
....—
Coal Belt Electric Ry.
Union Railway
.
♦Buffalo Rochester &
•Cincinnati Northern Railroad
3,003,362 77
......—.
♦Illinois Central
Railroad Co.
Railroad
Deadwood
-
....
....
Huntington A Brood Top Mountain RR. A Coal Co
Natchez A
Susquehanna Railroad Corp
Buffalo Creek
29,734 80
*
7,040,29
2,637,167 48
—
...
Hocking Valley.........
Barre & Chelsea Railroad Co.
Sullivan
Railway (effective Aug. 1 1918) (lump
sum)
Montpelier & Wells River.
Brooklyn Eastern District Terminal
595,883 21
♦Gulf & Ship Island Railroad Co
.........
Sandy Valley & Elk Horn
B. A O. Chicago Terminal
♦Boston &
■
■
Eastern
Gulf Texas A Western
Central
Railroad
Southwestern
Terminal
Great Northern
Contracts Executed to May 7 1920.
(* Indicates Class 1 Road.)
Compensation.
Abiiene Southern Railway Company (effective July 1 1918)$7 8,375 18
♦Alabama Great Southern
1,703,179 65
Alabama A Vicksburg RR
322,854 47
American Refrigerator Transit
546,707 97
Ashland Coal & Iron Railway Co
73,569 57
♦Atchison Topeka & Santa Fe
42,885,310 80
Grand Canyon Railroad
Rio Grande El Paso &
•
County
Great Northern Equipment Company
Great Falls A Teton
$824,670,418 00
for
Kansas &
......—............28,771,360 78
Superior Bridge
Duluth Terminal
Minneapolis Western
Minneapolis Belt
,
.
331,954 91
♦Great Northern Railway
in the aggregate:
2 Contracts with lump sum of
$129,734 80
On Jan. 1 1920 the total annual rental payable by the Government to
the companies was $917,000,000Of 124 applications that had been filed
929,385 42
.........—.......
Ahnapee A Western Railway Co.
Kewaunee Green Bay A Western Railroad
The United States Railroad Administration
^24 Ol&ss I Ro&ds"™-*
167 Contracts with total annual compensation
W
Hawkinsville & Florida Southern.
1920 reports
04
Detroit Bay City A Western
...
........
85,967 39
Detroit Terminal Railroad
............
186,460 40
♦Duluth So. Shore A Atlantic Ry. Co
562,348 06
Durham A Southern Railroad Company (effective July 11918)
134,221 70
♦El Paso & Southwestern
4,145,102 30
Galveston
CONTRACTS EXECUTED AND COMPENSATION
PAYABLE THEREUNDER.
74
45
67
317,628 01
■
-53,603,427 58
♦PennsylvaniaRailroad
*
Baltimore A
Sparrow's Point Railroad
,
•Cumberland Valley
♦New York
Philadelphia A Norfolk
Union Railroad Company of
Baltimore
Barnegat Railroad
Philadelphia A Beach Haven
Rossiyn Connecting Railroad
Peoria A Pekin Union Ry
(Continued
.............
on
page
148.)
{
306,513 72
RAILROAD COMPANIES
*8ssr
For abbreviations, Ac., see notes on
*BBS.
discovered In these tables.
Mites
Date
Par
Amount
Rate
When
Last Dividend
Places Where Interest and
Road
RAILROAD COMPANIES.
•
br living immediate notice of any error
will confer a favor
Subscribers
Bonds
Value
Outstanding
%
Payable
and Maturity
Dividends are Payable
first page)
Adirondack Ry—See Delaware A Hudson Go.
Akron St Barb Belt—1st M g ■ fd calls 105. Usmx.o* Ar
Akron Can A Young— 1st M $1,500,000 g call 105 C1C1
Alabama Great Southern—Ordinary stock
'mm s:
7
61?19 J
F
%>r J
60
mmm
r
mmm
1,000
1888
£100
£714.700
1913
1916
$. £ A tr
1,000
$4,312,000
715,000
100
G.zcfr*
J
1,500.000
7.830,000 7H
3.380,350
1,749,000
100
1878
290
J
$976,000
$1,000
50
Preferred stock 6% and participating $4,000,000 —
First M gold ext in 1908 (V 85. p 1645, 1460)-Fz.c
General mortgage £1,160,000
Cez.c
First Con sol M $25,000,000 gold
Equip trust Series E due $55,000 s-ag
1902
1910
&
A
A
A
A
U S Mtge A Tr
D Junel 1942
Cleveland Trust
J July 1 1930
D June28 '20, 3)4 Checks mailed
do
A Aug 20 '20, 3)4
Farm L A Tr. N
J Deo 11927
Go; N Y
Co
do
Y; A B
Morgan .Grenf&Co JLon
Guaranty Trust Co, N Y
D Dec 1 1943
D June'20-June'26 Guaranty Trust Co, N Y
2,500,000
1,700,000
J
A
J
A
4)4 g J
&
5 g
5 g
D Deo
1 1927
Alabama Midland—See Atlantic Coast Line RR
Alabama Tennessee & Northern RR Corp—
r!ofrpTTWiJ*tOCk, $2 600 000 vtc
...
—
Pref stock 6% $1,700,000 cum after Jan.
Prior Hen M, $3,500,000 g call 102H
1 1924
Mpxxxc*
186
186
"1918"
100
100 Ac
6 g
850,000
2,116,000 Up to 6
5
40,000
2,100,000 7)4 1919
6 g
942.000
5 g
580,800
416,100
fig
1918
Geo!(2d) M,$2,116,00V gcall 105; incomes5 yrs .Co
Equipment trusts due $10,000 semi-annually
...
Alabama & Vicksburg—Stock (see text)
Vloksb A Meridian 1stMga fd(V. 105,1892).F.xo*
143
1881
Alabama A Vicksburg Cons lstM $l,800,000_Cez.o
143
1889
100
Ac
143
1889
100
ao
1912
1,000
100,000
100
142
1400
1.000 Ao
3,500,000
10.000,000
600,000
2d Mforig $700,000 g (1st M on land)
Cex.o
Albany & Northern—See Georgia Southw A Gulf
Albany Pass Term Co—1st M 5% 50-yr gold bonds
Albany & Susq—Stock, dividends guar by D A H (end)
lstlM $10,000,000 g gu d & 1 oonv(text) Usmx.o*Ar
Albany & Vermont—Stock 3% guaranteed by rental
1912
100
143
1,000
100
12
&
J July 1 1948
Oct 1 1948
Nov
3)4
3
New York
1920-1922
Sept 4 *19 3 )4 % Central Union Tr Co, N\
do
•
•
do
11921
do
do
1 1921
do
do
O Apr 11921
Semf-an
A
&
A
&
A
A
o Apr
O Apr
•
MAS Sept 1962
5g
A
J Jan 1 1920
8ee text J
o
•
J
M"A"N
CIt
A So Bk,
6% Del A Hudson
do
O Apr 1 1948
MAN Nov 151919114 Troy, N Y
g A
A
Savannah
Go, N Y
do
'
*
★ AKRONI& BARBERTON
A ALABAMA
FLORIDA
&
REPORT.—For fiscal year ending Dec. 31 1918.
V. 109. p.
Gross
Net after
Comp.
Net
Interest, Dividends
BELT RR.—See page 138.
A AKRON CANTON & YOUNOSTOWN
Cal.
Yrs.
RY—See page 138.
OULF RR.—Operating in Sept. 1919 from
Line RR. south to Greenwood. 32 miles.
Oowarte, Ga., on Atlantic Coast
No bonds.
Capltairstock, $50,000; par, $100.
Pres., W, S. Wilson; Aud.,
J. B. BivingsADothan. Ala.
A ALABAMA OREAT SOUTHERN RR.—Owns Chattanooga, Tenn., to
Meridian, Miss.. 293 miles (about 30% double-tracked); leases Belt Ry.,
Chattanooga, 1.62 m.; owns 50% int. Woodstock A Blocton Ry., 8 m.;
trackage, 10 m.; total operated, 312 miles.
ORGANIZATION.—Controlled
by
'09. TO. '11 to*15.
2
4H 5 yrly.
LATEDIVS. *05 to '08
stock
0
Com.
Pref. stock
6 yearly
6
6
6 yrly.
In Peb. A|May 1920 paid 3H % on pref. Paid
'16.
7
7
1918.1919.
3,
11
6H,
7M
1917.
5&2 ext.
6Alext.
3^ % on com. June 28 1920.
BOND8.—The First Consols ($25,000,000) are issuable in lettered series,
$5,223,500 reserved to refund 1st 5s and Gen. 5s, $8,150,000 for second
track, at, say, $30,000 per mile; the remaining $7,313,500 for improvements
at not over $500,000 yearly.
V. 97, p. 1285,1582. 1820; V. 98, p. 72.1534.
Equip, trust 1916, V. 102, p. 1539; V. 104. p. 1044; V. 105, p. 1704.
Equipment trusts issued to Director-General for rolling
stock
cated to this company.
See article on page 3.
Jan.
EARNINGS—
Net
allo¬
Jan. 1-Dec. 31
1919.
1919.
1918.
$2,359,649 $10,529,739
$9,296,634
290,468
2,065,962
2,103,120
1 -Mar. 31
1920.
$2,606,649
559,091
Gross
REPORT.—Year ending Dec. 31 1918, in V. 109, p. 1788.
Total
Operating Net (after
Interest,
Pref.
Common Balance,
Income.
Rents, &c. Dividend. Div.
Surplus.
$
$
$ ■
$
$
1918.-9,296,635 1,925,413x1,856,763 I,072,039a236,624b548,100 382,480
1917—7,151,055 1,894,177 2,613,785
711,852a236,625b352,3501,312,957
1916—5,987,828 1,961,177 2,498,359
640,725c253,526d234,9001,369208
a
7%.
b4^%.
c7M%.
a 3%.
x Certified standard return, $1,703,180; other income, $153,583.—(V. 110, p. 658, 969.)
Cal.
Revenue.
Years
$
Taxes).
$
-1
A ALABAMA TENNESSEE & NORTHERN RR. CORP.—Owns and
operates 186 miles main track, extending from Calvert, Ala., at junction
with Southern Ry. System, north to Reform, Ala., on Mobile & Ohio RR.
Also terminal tracks and valuable harbor frontage in Mobile, Ala., formerly
owned by Mobile Terminal A Ry.
and 258 freight cars.
and 16 locomotives, 12 passenger cars
ORGANIZATION.—Incorn. 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.
Has short line contract
with U. S. Govt.; no compensation.
V. 108, p. 2527.
STOCK VOTING TRUST.—The
new common
stock is held in a voting
trust, with'iGeorge C. 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 issuo $100,000 is available for future
needs, $1,400,000 is reserved for use under restrictions in extending the line
if found desirable, northerly 50 miles to Reform, Ala., on the St. LouisSan 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
extensions and the refunding of equip, obligations, new or old.
The $50,000 equipment trusts, due $10,000 semi-annually (M. & N.) are
part of an original issue of $200,000, against $250,000 equipment.
EARNINGS.—For calendar year 1917, gross, $584,763; net operating
after taxes and per diem, $98,598.
For cal. year 1918, gross,
$684,158; net operating income after taxes and per diem, $103,412.
In
April 1919 the company reported that it was earning twice the interest on
its Prior Lien bonds.
See V. 108, p. 1720, 2021.
Income
Bright, V.-P.,
Treas., Mobile.
and I. H. Lehman,
New York; H. A. Smith, Hartford; David Taylor and George O. Van
Tuyl Jr., New York.—(V. 108, p. 1720, 2021, 2527.)
OFFICERS.—John T. Cochrane, Pres., Mobile; Louis V.
New York; E. A. Carstens, Sec., and K. R. Guthrie,
DIRECTORS.—Louis V. Bright, John T. Cochrane
★ ALABAMA & VICKSBURG RY.—Owns Vicksburg to Meridian. Miss.,
branch, 141 miles.
Controlled by Sterling Trust Co. of London.
V. 104, p. 1263, 663.
Government contract as signed fixes compensation
at $322,854. V. 109, p. 1983.
DIVS.—
'90-.92. '96. '97-'99. '00. *01. '02. '03. '04-T4. '15. T6-T8. '19.
and
Cash
—%\3 yearly
3
6
6
9
are
held to retire V. & M. firsts.
V. 105. p.
LATEST
EARNINGS—
Net
7 yrly. 7)4
$778,300
151,390
1919.
$663,958
44,866
ROAD.—Owns Albany to Binghamton,
Jan. 1—Dec. 31
1919.
1918.
$2,470,855
425,738
N. Y., 142 miles.
to Del. 9c
V. 56, p.
774), but the courts having held that the stock was entitled to the benefit
of refunding effected in
1906, $120,750 additional rental is paid In Jan.
yearly, beginning 1910, making 3.45% available for extra dividends on
stock; Jan. 1914 to Jan. 1918 20 cents was deducted yearly for co's. Federal
income tax.
A special dividend of 3095
($1,050,000) was paid Nov. 16
1909 from the proceeds of ths 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 paid 1M% extra. V. 107,
p. 2374; V. 89, p. 1141, 1666; V. 90, p. 913.
April 11916 convertible
$3,556,000 were so con¬
by D. A H.; V. 105, p. 389).
V. 80, p. 1174.
BONDS.—The bonds are guar. p. 8c i., and until
Into D. A; H. stock—$500 stock for $1,000 bonds;
verted ($3,500,000 pledged
1362, 2343.
Guaranty, V. 82, p. 989.
'
Arthur W. Butler, Pres.; George Wei wood Murray, V.-P.; W. L. M.
Phelps, Sec. & Treas.; C. F. Coaney, Asst. Sec. & Asst. Treas.—(V. 97, p.
1820; V. 106, p. 817; V. 107, p. 2374.)
^
★ ALBANY & VERMONT RR.—Owns road from Albany to Waterford
Jet., N. Y., 12 m.
Leased to Rensselaer & Saratoga in 1860 and now oper¬
ated by Del. & Hudson Co.
Annual rental, $20,000.—(V. 106, p. 923.)
AALGOMA CENTRAL & HUDSON BAY RY.—Owns from Sault Ste.
Marie, Ont., and Michipicoten Harbor to a connection with the Can. North¬
ern Ry., 272 miles; branch to Helen Mine, 12 m.; extension to Hearst on
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.
,
Owns stock and leases for 999 years Algoma Central Terminal, Ltd.,
with bonds secured Ion terminal properties and on $900,000 1st M. 5%
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. 100, p. 732; V. 104,
p. 1700; V. 105, p. 71.
PLAN.—In 1916 a reorganization plan was put into effect (V. 102, p. 885,
1058, 2076; V. 103, p. 843; V. 104, p. 1700, 2341; V. 105, p. 908).
Under this plan a committee including O. B. N. 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¬
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.
(5) Both issues pari passu
as though one issue, 2%.
(c) Railway bonds, 3%.
(d) Any arrears up to
6% on either issue,
(e) Terminals sinking fund.
(/) Railway bonds, 1%
and Terminals bonds, )4 of 1 %.
While the guaranty of the Lake Superior
cated
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. 1915; April 30 1918 of interest at 3% per ann
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.
Negotiations completed for full settlement of guarantee defaults. V. 110,
1192, 1295, 1748.
p.
Stock, common, $5,000,000, all owned by Lake Superior Corp.; pref.,
$5,000,000, including $3,000,000 new pref., represented
non-cum.,
The pref. shares have a par value of $40 each.
M. bonds, see V. 91. p. 93, 1159, 1327, 1573.
t. c.
v.
REPORT.—For year ending June 30
Gross
V. 105,
p. 71.
5%
by
1st
1919, &c., V. 109, p. 1984, showed:
receipts, including $667,114 from steamships, $1,618,743; net, after
taxes, $245,753; interest on deposits, &c.,
East. Terminals, $45,000; miscel., $2,069;
$67,573, and on bonds of Algoma
total, $360,394.
Deduct interest
equip, bonds, $17,100; special expenses, $80,000; accrued interest on co.'s
bonds, $504,000, and accrued rental A. E. Terminals Co., $249,976; balance
deficit for year, $490,682. Compare V. 108, p. 1720; V. 109, p. 1075.
on
Gross
Net
Net after Full Deficit after
Earnings.
Earnings.
Depreciation.
Bond Int.
$2,258,857
$263,294
$490,682
1917-18
2,124,745
439,219
312,887
1916-17
1,795,707
417,912
$281,936
472.040
Pres., R. Home Smith; Sec., Alex. Taylor, Toronto; Treas.. J. M. Alton;
Comp., E. B. Barber, Sault Ste. Marie, Ont—(V. 110, p. 1186.)
June 30
-■
$2,794,556
418,900
359.)
LEASED for term of charter, viz., 150 years from April 191851,
Hudson Co.; rental was 9% per annum on stock (4)4% J. A J.),
Earnings—
1918-19
Jan. I—Mar. 31—
—
5
V. & M. sinking
1892.
1920.
Gross
7 yrly.
100 in'10
50
BONDS.—Consols
fund, $353,551.
6
5 yrly.
Stock—% J
ALASKA GOVERNMENT ROAD.—(V. 110, p.
★ ALBANY & SUSQUEHANNA RR.—{.See Map Delaware A Hudson.)
but operated inde¬
Ry.;
Southern
pendently. V. 81. p. 1722; V. 82, p. 159. Owns $975,100 stock of S. W.
Construction Co. received for $833,300 OIn. New Orl. A Tex. Pac. stock.
Federal Contract, signed in Peb. 1920, fixed annual compensation at
$1,703,179. The company refused the 6 months' extension of the guaranty.
1983.
Balance.
Earnings.
Taxes. Fed. Govt. Income. Rents.Ac.
Paid.
Surplus.
1918.$2,470,856 $287,543x1322,854 $456,531 $189,690 $147,000 $119,840
1917. 2,139,316
439,376
625,662
122,860
147,000
355,802
1916, 1,818,133
360,908
575.224
125,726
147,000
302,498
x Compensation granted under Federal contract (as signed).
Pres., Edw. Ford; Treas., Adolpho Wolfe.—^V. 110, p. 1088.)
5s
CD
Q
£
O
«
Q
£
CD
w
Q
0
H
CD
!*
1
03
O
cq
0)
iH
a
Miles
RAILROAD COMPANIES.
&c.,\ see notes on first page)
[For abbreviations,
A!coma C & H Bay—1st M c tru
55 M incomes g $3,240,000 (V
Dais
Par
Bonds
Value
Outstanding
£100 $10,080,000
1910
318.800
1914
$£
£1.027,300
£100 &c
1912
$204,000
*11-12 $, £, Ac
2.500,000
1911
$. £, Ao
165.000
$. £. Ac
red 105 textUsm.xo*
red 105 textUsm
.(Jam
90,P536.1213)-I
_
Allegheny & Western—Stock 13.500,000) guar
First M $2,500,000 gold guar p A 1 (end)...a.xo*
Valley—See Pennsylvania RR
Allentown Terminal—1st Mg ext cal 1102J4-Ce.xc*
Amador Central—1st M gold (2% a t began 1913) „_xx
Ann Arbor—First mtge $7,000,000 gold
Mp.xo*
Impt and ext M $10,000,000 gold
_x
2-year notes $750,0(30
EM.xxxc*
Eq bonds.B g due $30,000 s-a red 102H(V92,p59)xo
Apalachicola Northern RR—First mtge $2,000,000 g-Arizona Eastern—Gila vail G1 & N 1st M g gu-Mp-z
Allegheny
63
1898
1,000
3
1889
1908
1895
1,000
12
292
1911
1919
98.68
124
187
First Refunding M s f
F.c*Ar
52*
Arkansas & Louisiana Midland Ry—1st M notes gx
Ark & Mem Ry. Bdge & T.-lrtM $7,500,000 g_G
Dlv.
Asheville & Spartanburg—See Southern Ry, Carolina
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 & California 1st M g
BB.zo'&r
General mortgage gold (see text)
Ce.xo*&r 8,516
8,516
Adjust ino M oum since July 1
do
1900 g_Ce.xo#Ar
N
x
IstM $10,000,000 g(l.xc*Ar
Interest stamped payable M &
do
Eastern Oklahoma Dlv
TransoonSL 1stM $30,000,000 g red
Rocky Mtn Dlv 1st
110-.Qxo*&r*
M $20,000,000 g red-G.yc»Ar*
1918 red (text) G.xc*Ar*
8,616
479
1102
106
1911
1905
1894
1910
1915
1887
1,000 Ac
100
1915
1905
(with
Ac
CENTRAL RR—See page 136.
Pere Marq. use
Mich.,
107, p.
Pref. stook oert., see issue Oct. 30 1897, p. 3.
V. 94, p. 205.
of 6% notes of 1916 were offered
of their notes with an extension of the bal¬
payment of 2H % in cash on such extended
portion or (ft) extension of the full face amount for two years at 6% interest,
with a payment of 2M% in cash on said notes.
V. 108, p. 1720.
Secured
.by deposit of $2,000,000 Impt. and Extension 5% bonds (of an issue limited
Aio $10,000,000), and a 2d lien on road, equipment, Ac>
In May 1919 is¬
sued $750,000 2-year 6% notes dated May 1 1919, to carry out said plan.
$100.
BONDS.—In April 1919 the holders
V. 108, p. 1935.
rolling stock allo
'
Jan. 1 -Dec. 31
1918.
$4,533,990
$3,585,907
$1,132,412
$969,924
809,650
390,484
Net
108,235
105,079
REPORT for cal. year 1919: gross oper. rev., $4,533,990; oper. income,
$615,951; other income, $44,085; deductions, $13,572; net income, $646,474.
DIRECTORS.—Newman Erb. J. 8.
Bache, F. Kingsbury Curtis,
.Colin Macrae Ingersoll, E. F. Blomeyer (V.-P. & Gen. Mgr.), W. J. Wollman, W. M. Wadden, all of N. Y.; Frederick Hertenstein, Cincinnati;
Pres., Newman Erb; V.-Pres., J. S. Bache; V.-P. & Treas., W. M. Wadden;
.Sec., H. B. Blanchard.—(V. 110, p. 1088, 969.)
Gross
A ANTHONY & NORTHERN
Northwestern RR., which see.
RR.—Reorganized in 1919 as the Wichita
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.
Bonos. $2,000,000 (111. State Tr. Co.. E. St. Louis, trustee), all held oy
committee, A. T. Perkins, St. Louis, Chairman, and Rob't R. Tompkins.
Secretary, which collects interest only as earned.
March 1913 and sub¬
sequent coupons were not paid at maturity; In Dec. 1917, $37,600, and
Jn Dec. 1918, $17,400 was paid on past due coupons; none since to May 1 *20.
For cal. year 1919: gross, $244,885; net, def., $15,845.
For 1918, gross,
$213,344; net, $17,460.
A. T. Perkins, Chairman and President, St. Louis;
R. J. Lockwood, V.-P. & Gen. Mgr.; G. H. Williams, V.-P. A Gen. Council,
St. Louis; R. R. Tompkins, Sec'y, St. Louis; F. V. Dubrouillet, St. Louis.
A APALACHICOLA
(V. 104. p. 763.)
RR.—Owns Maricopa to Hassayampa, Aria.
74 miles; Bowie to Miami. Ariz., 136 m.; Cochise to Gleeson, 35 m.; Tempe
to Mesa, 8 m.: other. 31 in.: leases Phoenix. Ariz., to Winkelm an. 92 m
other, 1 m.; total. 378 miles.
V. 90, p. 446. Annual compensation for
★ ARIZONA EASTERN
,
Government
B. 974.
31
operation as determined in March 1919,
$1,242,475.
V. 108,
Stock auth., $40,000,000, of which $9,000,000 outstanding
1918, $8,999,100 owned by South. Pacific Co.; with $2,816,000
of the $9,155,000 outstanding First Ref. 5s.
The remainder of the bonds
are held in sinking funds of proprietary co's.
Cal. year 1917, gross, $4.ec.
available
e
A Feb 2 1920
J Jan 11937
A
A
O Oct
5 Nassau Street, N Y
do
do>
do
July 11995
do
MAS Moh 11928
J
A
J July 11958
4 g
do
1 1965
do
D June 11955
do
J Jan
J
A
J
ig
4 g
do
do
2M
11995
A
uncertifle d);
do
do
do
do
do
do
do
of's' $382,000; of "z" $27,000.
269,650; net, aft. taxes. $1,772,612.
In 1918 standard return, $1,242,475*
other income, $22,792; interest, Ac., charges, $857,329; expenses (net) prior
to 1918, $16,632; bal., sur., $391,306.
V. 107, p. 1286; V. 108, p. 974.
A ARKANSAS & LOUISIANA MIDLAND RY.—Owns Monroe to OroeLa., 52)4 miles, and leases Rolfe June, to Hamburg, 8 miles, and
sett.
Ashley
Drew A Northern
miles.
Ry,, Crossett to Monticello, Ark., 41
Bluff, Ark., Ac., projected.
Incorporated
(V. 101, p. 2142) with $1,000,000 stock, as successor of Ark.
La. A Gulf Ry., foreclosed; no new bonds at organization, but $200,000
mortgage notes, also on (leased) Ashley Drew A Northern Ry., $438,000
1st 10-year gold 6s due Sept. 1 1922.
V. 86, p. 106. Year ended Dec. 31
1918, gross, $251,517; net, after taxes, $4,612; int., $12,000; rentals, Ac.,
$35,445; bal., def., $42,833.
Federal compensation, V. 110, p. 1526. Pro-
Extensions of 70 miles to Pine
In Dec. 1915
Eosed reorganization, seeand 109, R. Speed; Gen. ordered, V. 110, Meehan.
V. H. p. 2439. Sale Mgr., John W. p. 1971,
eceivers, II. B. Hearn
Office, Monroe, La.—(V.
110, p. 1526, 1971.
MEMPHIS RAILWAY, BRIDGE & TERMINAL CO.
the Mississippi River
at Memphis, Tenn.; opened for traffic July 15 1916.
V. 103, p. 321.
Stock outstanding $2,520,000 owned one-third each by the St. Louis
Southwestern Ry.,
Chicago Rock Island A Pacific Ry. and Missouri
Pacific RR., which use the road under a 50-year operating agreement.
These roads jointly and severally guaranteed both the 1st M. bonds and
also 3-year gold notes (secured by pledge of $6,000,000 of the bonds),
★ ARKANSAS &
—Owns double-track bridge (with wagon-wav) across
Of
$7,500.E" a. and Int., by endorsement. These $5,000,000proprietarythetaken the
notes werecompanies,
up
and
the guarantors at
V. 106, p. 85.
owned by the three
maturity Jan. 1 1918.
lst M. bonds, $3,750,000 are
Chicago Rock Island A Pacific RR.
Missouri Pacific RR.
Balance of $2,250,000 is in the company's treasury
subject to the indenture of Dec. 21 1917.
V. 108, p. 1721.
Pres., W. S. Martin; V.-P., J.M. Herbert; Sec. A Treas., Carl Nyquist.
St. Louis A Southwestern Ry.,
★ ATCHISON & EASTERN BRIDGE.—Owns railroad and wagon bridge
at Atchison, Kan., connecting with the union station.
Used by the Atoh.
Top. A Santa Fe, the Chto. R. I.
Quincy.
Stock, $700,000; par,
Treas., H. P. Eells Jr.; Sec., W.
A P., the Mo. Pao. and the Chlo. BurlJ»A
$100 per share.
Pres., H. A. Kelley
P. Kelly, Cleveland, O.—(V. 67, p. 578.
★ (THE) ATCHISON TOPEKA & SANTA FE RY.—(See Map.)—
Jan. 1 1920 comprised 11,483 miles of railroad (11,322 m, owned),
including an unbroken line from Chicago, 111., via Kansas City, Mo., and
Albuquerque, N. M.. to the Pacific Ocean; also to Galveston, Tex., and the
Gulf of Mexico. For operating purposes the 11,483 m.were divided aa follows:
On
Atchison
767.67
8,661.99 Panhandle A Santa Fe
Topeka A S. F
20.22
Rio Grande A El Paso
Also
$4,000,000; 5% non-cum.,
.either (a) cash payment of 20%
ance for two years at 6% plus a
'
A
Gulf Colorado A Santa Fe__l,907.64
-''STANDARD RETURN," Ac.—See page 5.
1919.
Junel'20
A
4 g
★ ANN ARBOR RR.—Owns from Toledo, O., to Frankfort,on Lake Mich.,
292 miles; operates car ferries between Frankfort, Mich., Kewaunee and
Manitowoc. Wis., and Menominee and Manlstlque. Mich.
Wabash and
Jan. 1 -Mar. 31
1919
1920
Q—M
F
J
9.603.000
22.545,000
3.000,000
7.975.000
Ao
Ac
Ac
★ ALLENTOWN TERMINAL RR.—Owns 3.27 miles of railroad In Allentown, Pa., connecting the East Penn. (Phlla. A Reading) with the Cent, of
N.J.
Leased for 999 years to Phlla. A Read, and Cent, of N. J. (by assign¬
ment from Lehigh Coal & 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
toeing raised from 4 % to 6 %; the mortgage security remains unimpaired but
the guaranty of P. & R. Ry. and Lehigh Coal & Nav. Co. was canceled.
Callable after July 1 1920 at 102X and int.—(V. 50, p. 422; V. 108, p. 2628.)
EARNINGS.—
J July 1 1928
A
MAN
V. 70, p. 849.—V. 106, p. 600.
Equipment trusts issued
to Director-General for
.cated to this company.
See article on page 3.
J
MAN July 11995
★ ALLENTOWN RR.—Topton to Kutztown, Fa., 4.39 m. Stook, $1,268,884 (par $50), inol. $1,071,400 pledged under Reading Co. gen.M. No bonds.
-tfar
1% Check from Co's office
New York Trust Co, N Y
Central Union Tr Co, NY
1H% Checks mailed from N Y
Dec 24 '19
Q—M
MAN May 11925
4g
★ ALLEGHENY & WESTERN RY.—(See Map Buff. Roch. A PW«.)Punxsutawney to Butler, Pa.. 60 m. and br. 3 m. An extension of Buff. Roch.
A Plttsb., to which leased In perpetuity for guaranty of bonds, taxes and 6%
on stock.
Uses B. A O. from Butler to New Castle and Pittsburgh under a
Ac.—Common, $3,250,000; pref.,
5g
4 g
1919 In V. 109, p. 1075, showed:
$925,510; net, $136,375; (aTter deducting $3,460
net earnings from steamships $70,472; total
net, $206,816- int. & rentals, $237,923; bal., def., for year, $31,077.
Pres.,
R. Home Smith, Toronto; Sec., Alex. Taylor, Toronto; Treas., J. M. Alton,
Sault Ste. Marie.—(V. 107, p. 902* Y. 108, p. 372; V. 109, p. 1075.)
BTOCK.,
Chic. Coot A ComTrASB
Mar 1 1964
7,809,500
1,000
1,000
1,000
1,000
do
do
MAN May 1 1950
A
D Dec 11 1921
J
Ao s43.536.500
REPORT.—For year ended June 30
Toledo terminals.
capital stock of Manistique & Lake Superior, Manistique,
42 miles (with branch, 13 miles).
V. 92, p. 1108; V.
1344, 2156; V. 106, p. 2194, 2410.
*
6 g
Ao
for extraordinary expenses);
Owns
J
500
Little Cur¬
to Evelyn,
N
A
MAS
MAN
500
-Gross railway earnings,
A AMADOR
&
J
6 e
rl 50634500
(Manitoulln 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. of Can. V. 92. p. 265; V. 95, p.748.
Leases for 999 years Algoma Eastern Terminals, Ltd., rental covering int.
and sink, fund on $900,(XX) 1st M. 6% bonds.
See Algoma Central Ter¬
minals. Ltd., mtge., under Algoma Central A Hudson Bay Ry. above.
Common stock, $2,000,000, all issued, and pref. 5% non-cum., $1,000,000, all Issued, all pref. and $1,000,000 common owned by Lake Superior
Corporation.
Bonds (Man. & No. Shore Ry.) auth., $3,000,000, Issuable
at $30,000 per mile (Issued, $2,500,000), guar., prln. A Int., by Lake Super¬
ior Corp.
They are subject to call as a whole at par or may be drawn at
.105,
V. 92, p. 396, 462. 627,1032; V. 93. p. 227, 406; Y. 94. p. 1382.
all 144 m.
MAN
M
Ac
rent
trackage arrangement, making In
Q—J
5r
?g
6 g
5
Office, 437 Chestnut, Fh
Union Tr Co. San Fran
Metropolitan Tr Co, N Y
July 11995
Empire Trust Co, N Y
May 1 1941
do
do
May 1 1921
July '20-Jan '21 Empire Trust Co, N Y
See text
Sept 51925
So Pao Co 165 Bway N Y
Nov 11924
A
J July 1 1929
MAN Nov 2 1938
500
$3,353 ,000 mor
EASTERN RY.—Owns from Sudbury. Ont„ to
A ALGOMA
J
'
if
100
1895
1895
1895
1903
1908
,
773.500 4 in 1919
300.000
4
248,000
19
222.873,500 6 In
5
124,173,700
5 g
560,000
1,000
1.000
do
J
6g
4 g
See text
1900
1898
do
6 2
200,000
60
Payable
4 g
See text
1914
Bonds convertible till June
Mr"&"«" Also In treas.Dec31 T8of "r" $1,928,000
1,000
are
Malt.. CoppellA Oo.N Y
Seml-A'n To Apr 1 1926
3% A Iselln A Co, New York
A
J Jan 1 1920
do
do
Oct 1 1998
A
A
O
6 g
2.000,000
1.492,000
1,000
A Aug 1962
Sept 1 1964
6
750.000
60,000
1,000 Ac
A
Dividends
See text
D June 11960
MAN 15 ToMay 15 1922 Maltland.GoppellAOoNY
BkofMont.LonA NY
M
A
S Moh 1 1961
6 g
5 g
See text
100Ac
1.000
1,000
A
F
text
7.000,000
1.000
'
Maturity
J
text
450.000
300.000
500
[Vol. 110
Places Where Interest and
Dividend
and
Payable
%
text
3.200,000
2.000.000
$100
63
Last
When
Rate
Amount
Road
.Uam.xc*
Alg Can Terminals 1st M ggurd 105
Usm
Equip bonds (A, B,0), due part annually red
x
Algoma East Ry—ManA NoSn latM gcured Uamo*
Aqulp bonds ser A & D due part ann through 10 yra
_
^control.
RAILWAY STOCKS AND BONDS
^contract?0
10
controls jointly with
64.09
61.51
Grand Canyon
Kansas Southwestern
Southern Pacific Co.
(Northwestern Pacific
see, Ac.), 556.92 miles; under construction,
completed to
1919, 85.09 miles.
V. 109, p. 1987.
shareholders voted Oct. 25 1917 to acquire several subsidiaries.
RR.—which
Dec. 31
The
V.
See V. 106. p. 2130.
105, p. 908; V. 106, p. 2343.
the St. Louis Rocky Mt. A Pacific Ry., extending from Dee
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, Ouia., toOhlckasha, 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 $1,500,000 Income bonds
for $800,000 was exercised In 1917, about 80% of the $1,200,004 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 1915
Moines, N. M.. west to Raton, with branches,
ORGANIZATION.—Organized Dec. 12 1895 under laws of Kansas, Is
of Atch. Top. A 8. Fe RR. Co., foreclosed.
V. 60, p. 658.
The railway company on Dec. 311919 owned In fee 7,126 miles of system,
and also all, or nearly all, the bonds and stocks of the other companies.
Has a joint Interest with the Southern Pacific In the Northwestern Pacific.
STOCK.—The preferred stock has preference as to assets and non-cumu¬
lative dividends not exceeding 5% per ann., as declared by the board of di¬
rectors out of net profits.
The total auth. amount of pref. is $131,486,000.
successor
00. *01. W05.
DIV8.—
Pref. (%)
06. '07. 'OH.
0
Com..(%)
-
3^4 yrly. 4* 6
4
5
5 yrly. 5
09.
1910 to June 1920.
6%
5
5
£{*&>*% §"M)
fcA)
BONDS.—The Gen. Mort. (Abstract V. 62. p. 731-739; see also
V. 68,
^974;on 8.514.79 m. gives a system, with equip.,mortgage or Ac. collateral
1st. V. 86. p. 1098) of the lien, either by direct
terminals. by
The unissued Gen. M. 4s have
been reserved
as
follows: To retire under-,
lying bonds, $2,004,960; for lmpts., Ac., $1,852,102; acquisitions
lines. $6,731,554; no longer available, $2,339,383.
of other
Adjust. (income) Mtge. abstract, V. 62. p. 739.
Int. payable only li
earned up to 4% In each year, cumulative.
Present issue limited to $51.728.000, but when the $30,000,000 gen. 4a auth. for Improvements as above
have been Issued, $20,000,000 additional adjustment 4s may be Issued for
the same purpose at not exceeding $2,000,000 In any one year, but only by
a majority vote of the adjustment bondholders.
Interest—In Nov. 1897
paid 3%; slnoe, full 4% yearly.
Eastern Oklahoma division 4s of 1903, V. 76, p. 434; V. 79, p. 1331:
V. 84. p. 1549; V. 85. p. 598; V. 86. p. 980. 1041.
'
The
Trans-Continental Short Line" first gold 4s of 1908 are limited to
$30,000,000 auth. Issue.
The $17,000,000 sold In Aug. 1908 covered 693
miles then In operation: the remaining $13,000,000 caabe Issued at $25,000
per mile
V. 100. t> 2008. Compare Issue June 26 1915. V. 87. p. 479, 878.
The 4s of 1905 ($49,711,000 auth. Issue) were convertible Into com. stojfc
at par till[June 1 1918.
V. 79. p. 2695; V. 80. p. 649; V. 81. p. 1174;
V. H2, p. 391, 867.
The 4s of 1909 were convertible into common stock at
par to June 1 1018. V. 88, p. 1435,1559. The 4s of 1910 are conv. into com.
stock at par prior to June 1 1923. V. 90, p. 913, 1043, 1612; V. 92, p. 393,
593, 1709.
V
Mat, 1920.]
RAILWAY STOCKS AND BONDS
11
Contract.
Atchison Topeka &
Date
Par
Amount
Rate
When
Last
Bonds
Value
Outstanding
%
Payable
and
Maturity
1909
Jl.OOOAo
1,000 Ac
Santa Fc Ry (Con.)—
convertible till June 1918 red (text)G.xc*Ar*
convertible till June 1923 red (text) a.xc*Ar*
HutcWn & So 1st M g red 105 slnoe 1908-.-OB.zo*
Ban Fr & San Jo Val 1st M g call 110 aft 1915- Ba.zc
Santa Fa Pre# & Phoenix—1st M
c Ba.zc*
Presoott fc Eastern 1st M guar
Ce.zc*
Oal-Ar L 1st ARef M *50.000.000 g red llO.O.xo* Ar*
Athens Tcratlaal Co—1st M gold redeem 105--N.ro*
Itl Blrm & At!—Atl A B 1st M red 110
OB.xc*
Bonds
Bonds
First A Ref M
375
195
26
834
337
634
638
$15,000,000 g call (text).Ea.J7C*Ar*
$5,200,000 call par Aint-Col.yc*
Atlanta Knoxville fc Northern Ry—See
Atl & St And Bay—1st M $500,000 K
Louisville & N
red par
c*
ashvlll
82
82
5.11
Terminal—lstM$2,500,OOOser Ag Gxxxc*Ar
West Poiat—Stock $2,600,000 auth-—Atlantic City— 1st Mggu call 105May'24 GuP.xxxc*
Atlantlo City purchase money real estate mtge.GPx
Sea Coast prior lien mortgage gold
x
1897
1900
1905
100 Ac
100 Ac
1902
All
1,000
1,000
1,000 Ac
1,000
1,000 Ac
1,000
50
100
1909
also
u
1914
1914
1909
1920
The
Federal
242 miles, which was
there are outstanding
Comvensation.—$42,810,311 yearly during Federal control.
Equipment trusts issued to Director-General
See article on page 3.
for rolling stock allocated
Jan.
1918.
$162369,130
17,001,271
7,352,122 49,402,254
REPORT.—For cal. year 1919 in V. 108, p. 2344, showed:
—
Years ended Dec. 31
1919.
1918.
——
operated.
11,483
Taxes, Ac—
compensation-44,615,087
investment 10,383,400
Interest, discount, Ac__
507,409
Misc. income credits
4,209,307
Total income
_
Interest on bonds
«,„■
Ac
Federal taxes
Common divs.
$
11,259
s
—
(6%)
Approp. fuel res. fd., Ac.
Invest, in phys. prop'ty
59,715,203
11,654,259
808,612
3,373,271
780,403
6,208,685
13,351,695
99,459
49,077,594
44,206,339
42,885,311
1,464,208
1,434,424
1,412,320
48,346,700
47,196,263
42,025,618
Operating income
Federal
Income from
Rentals,
11,284
$
Year ended
June 30 '16
209,500,004 187,658,223 165,529,519 144,290,238
158,336,023 135,793,059 105,222,878 88,413,487
z9,137,403 z7,658,824 11,959,941
6,799.157
Total oper. revenues
Total oper. expenses
Other income debits
Preferred divs. (5%)
1917.
11,456
$
Aver, mileage
52,240,229
11,852,977
2,201,704
52,555,449
12,364,166
2,069,094
6,208,685
13,177,995
85,280
8,348,180
6.208,685
12,813,750
11,696,192
673,664
3,095,398
3,382,575
6,208,685
13,289,595
89,571
f,424"580l
3,477,855
2,468,949/
x
x
New York; T. De Witt Cuyler, Phila.;
J.
★ ATHENS TERMINAL CO.—Owns freight terminals and approaches la
Athens, Ga.
Stock $25,000, equally owned by Seaboard Air Lime and
Gainesville Midland, which agree to pay operating expenses and lntecwt
charges la proportion to tonnage used. Bonds ($250,000 auth, issue), see
table above.
Pres. A Treas., Gordon O. Carson; Sec., A. M. Yetterdahl,
120 Broadway,
New York City.
★ ATLANTA BIRMINGHAM & ATLANTIC RY.—Own* Brunswick, Ga.,
Birmingham, Ala., 453 miles; Sessoms to Way cross, Ga., 25 miles;
Fitzgerald to Tbomasvllle, Ga., 81 m.; Atlanta to Manchester, 78 m.;
total. 638 m.
See V. 103, p. 405.
An extension from Way cross, Ga., to
Jacksonville, Fla., 75 miles, is proposed. V. 104, p. 2116.
to
ORGANIZATION.—On Jan. 1 1916 succeeded to foreclosed properties
A. RR. Co., Georgia Terminal Co. and Alabama Terminal
of the A. B. A
Ry.. per plan in V.101,p.2143. Result of Federal valuation, V.103,p.1887
The U. S. RR. Administration in 1918 sanctioned equipment, Ac.,
outlays of $1,364,896.
V. 108, p. 266.
.
"STANDARD RETURN," Ac.—See page 5.
Federal contract signed
In Dec. 1919, fixing annual compensation at $480,000.
STOCK.—$30,000,000 in $100 shares was underwritten at $12 a share
to discharge equipment obligations ($1,266,366), Ac. V. 102. p. 344, 885.
^
BONDS.—First
and Refunding Bonds.—When
,
Issued will
be a
first
mortgage on 300 miles of main-line track and second
mortgage o»
337 miles, and upon the terminal properties In Birmingham and Atlanta
To be issued only (a) to retire, at or before maturity, Atlantic A Birming¬
1934.
(5) For future improvements, ex¬
restrictions. Int. rate to be fixed at ttme of
Issue, not to exceed 6%.
V. 103, p. 405.
Callable at 110 A Int. Nov. 1920
to 1925: at 105 A int. 1925 to 1935. and thereafter at 102HOn Dec. 31 1917 $1,424,000 First A Ref. Mtge. bonds had been Issued,
but none had been sold; $600,000 were in use as collateral for $500,000 notes.
Also $200,000 of the $656,093 Income bonds owned (of $5,200,000 auth.)
were pledged to secure $100,000 notes.
Loans and bills payable Dec. 31
Ry. $4,090,000 1st 5s due
tensions and acquisitions under
ham
1918 $565,000.
Mch
A
Co, N Y
Boa
Equitable Trust Co, N Y
Columbia Trust Co. N Y
Mar 1920 4X% U S Mtge A Tr Co. N Y
Central Un Tr Co. N Y
July 1 1944
J
A
M
A
J
Old Colony Trust Co,
1945
Nov 1 1930
Nov 1
A
M
&
AtlantaOenBkATr Corp
O Oct 1 1938
J Junel 1940
A
A
A
Guaranty Trust Co. N Y
3% Atlanta. Ga
Reading Terminal, Phlla
A Aug 1 1939
D Dec 31 '19
N May 1
A
1929
O Apr 1 1930
O Apr 11948
J July 1 1951
A
A
do
D Irredeemable
A
J Jan
Dec
J
4
1
do
do
do
3% Baltimore
Mar 10 *20
A
A
do
do
•
Q—M
J
5
4
cur
do
New York Trust
1 1934
Jan
A
M
do
do
do
1 1962
July 1 1937
J
do
do
1919 paid 2M%
Jan 1920
paid 2%
Jan 1920 paid 2%
Treas Office, Bait,
1 1925
\H
4
Ig
Safe Dep
MAN Nov 1 1939
M&N
4H g J
A
A Tr Co, Balto
15 May 15 1930
Treas Office, Balto,
MAN Irredeemable
Md
D June'20-Dec '21 OSTrCo, N Y, A Balto
Bonds.—Entitled to non-cum. Interest (paid semi-annually)
rate,
not exceeding 5%
per
annum, as may
be declared.
101, p. 2143).
The mortgage provides
that net Income, a* 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 in
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
Fund," carrying interest at 6%, may be distributed to the incomn bonds
at any time and in any amount, and any balance at the maturity of the
bonds shall be paid over to the trustee for the benefit of the bondholders.
Total auth. issue, $5,200,000; held by or for company $656,093, Including
$370,640 purchased in 1917; outstanding, $4,543,907.
V. 105, p. 68.
The first installment of interest on tne l5-yr. 5% income M. bonds at
Income
such
at
(V.
thefnll rate of 5% per annnm,
$33 33
from earnings;
from Nov. 1 1915 to June 30 1915,
per $1,000 bonds was paid Sept. 1 1916, but only as to 2H %
Mar. 1917 to Mar. 1918 incl., 2H% (s.-a.) was paid on the
incomes; on
the rate of 5% per ann. on the coupons
1 1918, Mar. 1 1919 and Sept. 1 1919. Y. 110, p. 260. Mar. 1
1920 paid 2H%.
As to Atlanta A Birm. Ry. $4,090,000 1st M. 5s, see V. 80, p. 710,115.
12 1920 interest was paid at
Jan.
due Sept.
Equipment trusts issued to Director-General for
See article on page 3.
rolling stock allocated
to this company.
Jan. 1 -Mar. 31
1920.
1919.
EARNINGS—
$1,113,158
def.246,262
$1,418,104
def.37,657
Gross
Net
1918 In V. 109, p. 2354,
REPORT.—For year ending Dec. 31
Net, after
Gross
Calendar
Year—
Earnings.
1919
$4,961,072
1918— 4,703,381
1917
3,983.368
*
Standard return,
bonds.
a
Including
Interest
Other
Rents, Ac.
Income.
Taxes.
$523,825
fl$529,738
$482,150
$28,924
77,680
64,450
*$480,000
*480,000
480,459
a
Jan. 1 -Dec. 31
1919.
1918.
$4,961,072 $4,703,381
def.780,080 def.335,074
reserve
showing:
Balance,
Surplus.
def.$14,901
$28,045
$61,892
of $227,195 for interest on
income
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 and Charles F. Ayer, Boston; Percy R.
Pyne and Howard Bayne, N. Y. City; W. G. Brantley, Washington, D. C.;
F. D. M. Strachan, Brunswick, Ga.; Elijah B. Lewis, Montezuma, Ga.;
W. C. Vereen, Moultrie, Ga.
Pres., B. L. Bugg; V.-Pres.f J. L. Edwards; Treas., W. E. Paschall;
Sec., A. V. B. Gilbert.
DIRECTORS.—Brooks
★ ATLANTA & CHARLOTTE AIR LINE RY.—Owns Charlotte, N. C„ to
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 b*
instead of a maximum of 7%, dapendent upon gross earnings, the Southern Ry. to have an option to pur¬
dividend date at $250 per share in cash. V. 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 ,
664.
Year ending Doc. 31 1917, gross, $8,601,992; net, after taxes, $3,810,887;
other income, $17,182; int., Ac.. $1,461,873; divs. (9%). $153,000: addi¬
tions, Ac., $1,129: ba!., sur., $970,878.
Pres., O. S. FairchUd. N. Y.—(V. 104. p. 1044, 1898; V. 105, p. 388.)
9% yearly without regard to earnings,
chase the stock on any
Engel, S. T. Bledsoe, W. B. Storey, Chicago; Andrew C. Jobes,
Merriam, Kan.; Howel Jones, Charles S. Gleed, Topeka; Arthur P. Hadley,
F. L. Juilliard, J. E. Otis.
Office, 5 Nassau St., N. Y.—(V. 110, p. 1186,
1288, 1526.
E.
&
do
do
Armour.
Balance, surplus
23,438,819
8,760,582 10,365,408 zl9,099,754
x Amounts not determined in 1916 owing to change in fiscal year,
y Owing to Federal operation, comparisons with earlier years are faulty,
z Less war taxes.
OFFICERS.—W. B. Storey, Pres.; E. J. Engel, W. E. Hodges, A. G.
Wells and Edw. Chambers, V.-P.; D. L. Gallup, Comp.; E. L. Copeland,
Sec. A Treas.; L. C. Doming, Asst. Sec.
Directors.—Charles Steele, Edward J. Berwind, H. Rieman Duval,
Henry S. Pritchett, Ogden L. Mills,
M
A
Md
A
J JulylO 1920 3X
67.574.200 7 In 1919
do
do
A
J July10 1920 3 X
1,000,000 7 in 1919
do
do
5 In 1919 MAN NovlO 1919 2X
196,700
J P Morgan A Co. N Y
1 1952
MAN Oct
4 g
35,000.000
United States Tr Co, N Y
J
A
D Dec 1 1959
4 g
15,000
do
do
J
A
D June 11964
t22,919,000
do
do
J
A
D June 1 1964
100,000
47,456,754
Net
A
A
A
Jan. 1 -Dec. 31—
1 -Mar. 31
1920.
1919.
1919.
$53,043,814 $38,091,433 $179904,498
Gross
A
A
LATEST
to this company.
EARNINGS—
M
A
Ac
4.481.045
Ac
6,000,000
100 Ac
135,100
1902
1,000
500,000
1911
$14,59 9 and z $ 18,000
$4,127,500 Sou. Pao. bonds due Nov. 1 1937.
The latter also cover over
1 000 miles of Sou. Pao. Co., which has agreed to indemnify the Cal. Ariz,
fc' Santa Fe Ry. against any claim on account thereof.
Of the remaining Cal.-Ariz, bonds, $26,321,862 are Issuable for not
exceeding the actual cash expenditures for betterments. Improvements and
additions on and after Jan. 1 1912 and $5,167,000 are reserved to refund the
underlying bonds, $4,940,000 Santa Fe Prescott A Phoenix 5s, $224,000
Prescott A Eastern 6s and $3,000 on the line from Goffs to Ivanpah. Cal.,
45 miles.
V. 94. p. 649. 696, 766: V.95. p. 543.
Of the Rocky Mtn. Div. 1st 4s of 1915 ($20,000,000 anth. Issue). $3,000.000, redeemable at 105, were issued to purchase the St. Louis Rocky
Mtn. APac.Co.. Des Moines to Raton, N.M., Ac., 91 miles.
The remainder
may be issued for extensions.
V. 100, p. 1593; V. 102, p. 250.
do
6 g
500
California-Arizona Lines 1st and Ref.mtge. of 1912 ($50,000,000 auth.
which $18,511,138 4>$s are outstanding covers 834 miles of
road. Including the liue from Needles to Mojave,
acquired from the Southern Pacific Co., on which
T
do
do
11928
Oct 1 1940
Sept 1 1942
Apr 1 1928
6
Too
several issues of convertibles must be secured by any future mtge.
covering the lines owned at time the convertible Issue was made, and may
be called at 110 on any Interest day, but when called may be converted
Into stock provided the time for conversion has not expired.
do
Jan
61,800
3,000,000
100
4,301
4,409
4,409
June 1 1960
A
5,000,000
100 Ac
100
N
Street.
A
4H
75,000
350.000
§8
4 g
1,851,000
8,820,000 12 m '19
1889
1900
1898
1901
68
Nassau
A
J
if18
100
5
June 11955
Payable
are
I
4 8
1,000,000
2,463,600 6 In
5^g
2,200.000
T.ooo
Tbe
Issue) of
425,000
425,000
1,000
1914
1919
Dividends
J
4 g
192,000
fg
5 g
z5,949,000
5 g
4,940,000
5 g
224.000
1,000
iX t
$ A £ U18511.130
5 g
200,000
1,000
5 g
4.090.000
1,000
text
1,000 NoneOctT9
1.000
4,543,907 See text
9
100
1,700,000
1.000 Ac 20,000,000 4H & 5
*1908
81
1st Cons M $4,500,000 gold guar
GPx
Atlantic Coast Line Co (Conn)—Stock (see text)
Certlt of Indebt lnc non-cum $5,000,000--SBa.zr
do
Class B red 105 after Nov 1920(V 89,pl666)z
do
redeemable at par slnoe 1910
z
S27.022.933 4 U>« in treasury Pec.31 1919:
$1,190,000
10.071,000
1,000
1,000
1.000
93
Atlanta &
t Further
1914
263
Atlanta
Atlantic Coast Line RR—Stock oommon (text)..
Class "A" oom stock tax exempt (Rich A Pet certfs)
Preferred stock 6% (V. 75. p.'1252)._..___—.
Ar*
UU11 tr JUL gold DWUiws by L A N UV* red 105-xo'
*1 stk ivu J,vv*v
Coll U M
secured wjr AJI
Unified mortgage gold (closed)
__xc*&r*
Gen Unified Mortgage
Us.c*Ar»
Do
series B
Us.c*Ar*
F Oonv debs $23,562,500 red 105 after May'16 SBa.xr
Secured goldi notes redeemable text
c*Ar*
>
Certificates of Indebtedness (new)
z
Boulp trust ser B gold $125,000 due s-a
SPa*
1915
263
($500,000 authorised)
Second mtge
1910
1898
1896
1892
1898
1912
1907
1904
1915
141
Income M 5% n-c
Atlanta & Charlotte Air Line—Stock (see text),..
1st M $20,000,000 ($5.500,000ser A4X) Ce.yc*Ar*
Places Where Interest and
Dividend
Road
first page.]
[VOL. 110.
Control.
Miles
RAILROAD COMPANIES.
abbreviations. As., see notes on
[For
APrfvate
RAILWAY STOCKS AND BONDS
★Government
12
A 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.
For year
after taxes, $47,017;
O. Keith; Sec., H. H. Han¬
ending Dec. 31 1918, gross, $307,389; net
int., $51,000; bal., def., $3,983.
Pres., Minor
son, both of New York.—(V. 107, p. 1917.)
★ 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 oy
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, H. W. Miller.—(V.
105, p. 2093; V. 107, p. 904; V. 109, p.
A ATLANTA &
93.19
same
476, 577, 271.)
WEST POINT'RR.—Atlanta,
Ga., to West Point, Ga.
Leased to Georgia RR., which owned $936,100 stock, but sold
in 1910-11 to the lessees at $135 per share with option of repurchase
m.
same price.
Annual compensation under Federal control. $252,995;
(contract signed); total estimated (incl. other income) available for divi¬
$283,070.
The company refused the six months extension of the
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 rather than independently.
The three properties will be directed as
at
dends,
to
'
operation from Alabama.
DIVIDENDS.—From July 1 1884 to July 1901, Inclusive, 6%
yearly,
J. A J.: -Oct. 1 1899, 25% extra; 1902 to 1919. 6% yearly.
Loans and bills payable outstanding Dec.
31 1919, $160,000.
Jan. 1-Mar. 31
Net
Jan. 1 -Dec. 31
1919.
1918.
$782,319
1919.
$679,002
$2,778,563
$2,548,440
212,812
195,110
710,651
818,085
1920.
EARNINGS.—
Gross
„
1917, gross, $1,770,250: net, after taxes, $394,513;
other income, $204,606; rentals, Ac., $169,655; divs. (6%),$147,816; but..
Year ended Dec. 31
mat, 1920.
*gsssr
Miles
Atl Coast
on
first page.]
Date
Par
Amount
Rate
When
Last
Bonds
Value
Outstanding
%
Payable
and
Maturity
3,941
1902
102
1883
Atlantic C L of S 0 Gen 1st M(lst on 594 m)g SBazc*
696
1898
Petersburg M class A gold
a
do
do
class B g (Petersburg to Weldon) _z
Richmond A Petersburg Consol M g
Ce.xo*
Wllm A Weldon Gen M (5938,000 are 4s) g.SBa.zo*
Wilmington & Newbern 1st M gold assum—SBa.z
Nor A Car 1st M gold (P Pt Va to Tar, N O-Ce.zo*
Second mortgage gold
SBa.zo*
Sav Fla & W 1st M g (52,444,000 are 5s) -Mp.xo* Ar
Charleston & Savannah gen mtge gold
SBa.zo*
Bruns A W 1st M(Brunswick to Albany)g gu Mp.zc
Alabama Midland 1st M g (Balnb to Montg)
Mp.xo
Florida So 1st M gold...
a
AB.zc*
Sanford A St Petersburg first mtge gold
PePx
Atlantic & Danv—1st M 54,425,000 g lnt rent—Baxo*
Second mort 51,525,000 gold lnt rental
Ea.xo*
Atlantic & North Carolina—Stock 51,800.000
69
1881
69
27
1881
1,000
1890
1,000
1885
145
1888
1895
1894
278
1900
278
1904
1917
1,000
1905
£100
91
1897
110
1889
110
1890
543
1884
111
1886
167
1st Mtge 5325,000 g guar
1888
174
—
244
Atlantic Quebec & Wert—1st M callable 110
c*
«
—
-
Second Mortgage debentures
~
-
-
A
20.5
Jan. 1 -Dec. 31
1919.
191S.
$4,452,164
$4,252,769
Net
1,023,714
1,351,264
The company refused the six months extension of tne Govt, guaranty.
—(V. 82. p. 750: V. 108, p. 1721.)
1919.
$775,289
41,779
ATLANTIC COAST LINE CO.—Organized May 29 1899 In Connecticut
and owned June301919 $18,590,600 common stock and a
large amount of
1726.
STOCK, &c.—Reduced in 1914 to $8,820,000.
V. 98, p. 234, 609.
to the certificates of Indebtedness, see editorial Oct. 1897, Supple¬
As
ment, p. 3; V. 65, p
564; V. 71, p. 1310.
In 1898 $5,000,000 stock was
distributed as a 100% dividend (V. 67, p. 954), and In 1900 510.000,000 4%
Indebtedness (Including 52,500,000 of Atlantic Coast Line
100% dividend.
(V. 71. p. 697; V. 73. p. 493.)
to Mar 1920
12 yrly (3 Q-M)
CASH
1'02. *03. '04. *05. '06. '07. '08. *09. '10. *11. '12
DIVS—%
/634
8
9
8
10
10
8
9
10
J
A
J
A
M
A
J
A
J
A
J
A
J
J
A
J
J
A
J July
1919
J July 1 1922
J July i 1935
10
REPORT.—For year ending June 30 1919, in V. 109, p. 1526, showed:
1918-19.
1917-18. I
1918-19.
1917-18.
Total credits- $1,870,980 $1,833,724 Divs. (12%)—$1,058,400 $1,058,400
Total deduc'ns
418,531
424,7671 Bal. over divs. $394,048
$350,557
J
A
J
&
0
M
A
Va.,
to South
Rocky
Mount
Contentnea to Wilmington.
115
105
Junction
Florence, S. C., to Augusta, Ga.
Sumter to Columbia
1,799
Branches, &c
Leased—
Wilmington, N. C„ to Pee Dee
97
167
45
Central RR. of So. Carolina—
Lanes to Sumter S. C
40
12
Other lines
Yadkin Jet. (Wilmington,
N.C.)
Tot. miles oper. Dec 311919.4,893
to Sanford
110
Waycross, Ga., to Folkston, Ga.
34 Closely allied lines (see each co.)—
Jesup, Ga., to Montgomery, Ala. 355 Louis. & Nash. Unci, all cos.) .7,675
Brunswick, Ga., to Albany
169 Charleston A Western Carolina. 343
81
Dupont Jet. to Fort Myers, Fla.
349 Northwestern RR.of So. Car..
Haines City to Harrisburg
901
Also owns one-sixth Interest In the Richmond-Washington Co.
Leases,
Jointly with the Louisville A Nashville RR., the Georgia RR., 571 raUes.
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
tracts for a 50-m. line from Tampa, via Orient, to Palmetto, and
let con¬
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.
was
ORGANIZATION.—On April 18 1900 absorbed by consolidation (V. 70,
p. 840. 893), Wilmington A Weldon RR., Atlantic Coast Line RRa.
and Va. and Norf. & Car. RR.
Florida Southern and Sanford & St.
do
do
Metropolitan Tr Co. N Y
United States Tr Co, N Y
do
do
Bankers Trust Co, N Y
1 1948
Equitable Trust Co
1H Check from Co's Office
N Y, Equitable Trust Oo
See text
London and Portland
3%
N May 1 1952
Fidelity Tr Co, Bait
J Jan 5 1920 2H Savannah, Ga
June *18 coup pd Aug'18
D Dec 1 1924
J July 1 1953
Safe Dep & Trust Co,Bait
S Mar
1920
1 1920
5 g
M
A
5
J
&
5 g
J
&
4 g
J
&
834
J
A
J Jan
5 g
M
A
S Sept 1 1934
Phila
J
A
J
J
A
Company's office, N Y
Nat Bk Commerce N Y
5 A 7
0
154 Erie Railroad, New York
July 11920
J July 1 1931
"•
LATEST
EARNINGS.—
Gross
Net
York.
New
,.and
May 15
and after
v.v
Jan. 1-Dec. 31
1919.
$19,338,193 $16,648,457 $63,558,451 $56,992,329
4,551,356
3,115,875
10,058,540
14,329,020
Jan. 1 -Mar. 31
1920.
1919.
REPORT.—For calendar year 1919 at length
X1919.
xl918.
Gross
receipts
Oper.
exp.,
taxes, &c
$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
$11,406,237
$14,116,304 $14,069,144 $17,192,960
$6,042,301
$6,050,981
$6,050,657
92,773
47,446
60,1-83
$15-973,100
$5,812,267
86,666
Div. L. & N. stock (7%)
Gross income
funded debt.
on
in V. 110, p. 2184, 2201.
1917.
1916
$37,322,085
25,915,848
Net earnings
Other interest
A
$63,558,452 $56,992,329 $44,063,331
56,345,437
45,366,201 32,049,589
Federal compensation
Other income
692,530
685,885
9,835
9,835
dividends—(7%)4,799,158 (7)4,799,158
& P. "A" stock (7%)70,000
(7)70,000
Rentals, &c-_
Preferred dividends (5%)
Common
Divs. R.
surplus...„ $2,409,707
Balance,
$2,405,839
380,826
9,835
_
,
------o
1,996,408
2,570,400
402,545
^ a
(7)4-729,109(6)4,053,480
(7)70,000
(6)60,000
$5,548,312
$5,892,350
x Results under Fodoral
control.
Comparison with earlier years faulty.
OFFICERS.—Chairman, Henry Walters; Pres., J. R. Kenly; V.-P.,
R. A. Brand and Lyman Delano; Gen. Mgr., P. R. Albright; V.-P. & Sec.,
Herbert L. Borden; Treas., J. J. Nelligan; Aud., J. E. Shannon; Gen. Coun¬
sel, Geo. B. Elliott.—(V. 110, p. 969, 2075.)
★ ATLANTIC
& DANVILLE RY.—West Norfolk
miles; three branches, 22.25 miles; James River
205.1
to Danyllle Va
Jet. to Claremont
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 or
(3-ft.
In addition the Southern Ry. agrees to pay the same rate of divi¬
paid on Its own com. stock. V.71,p.447; V.79,p.o2o,
provisions of lease, V. 95, p. 1606.
99 years.
dends on com. stock as
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 & NORT1
CAROLINA RR —Morehead City to'
Goldsboro,
O., 96 miles.
Stite of No. Oar. Aug. 1917 owned $1,266,500 of $1,797.stk. V. 96, p. 862, 1088. Leased from Sept. 1904 to Jan. 1 1996 to
Atlantic & North Carolina Co. (the lease being later transferred to Norfolk
Southern RR.) for Int. on bonds, taxes, &c., and divs. at 3% for 20 years,
then increasing 34% every 10 years till 5% Is reached; thereafter 6%.
N.
200
-93.
2
DIVS.—
cent
Per
The
Peters
($21,330,000 and $3,008,000) were exchanged at once for new Series A
434s, $ for $.
V. 98, p. 761. 1070. 1154, 1243; V. 100, p. 1916.
Listing,
see V. 103, p. 2237.
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 4J4s were held in the
treasury.
V. 106, p. 2235.
A Tr Co, Bait
1919
executed).
tract
of S. C.
burg were merged April 1903.
V. 76, p. 918, 971.
The Atlantic Coast
Line Co. (of Conn.) June 30 1919 owned $18,590,600 common stockSi? ,640.000 having been distributed Mar. 10 19l4 among Its stockholders.
See that co. above.
V. 70. p. 893; V. 71, p. 1116, 1310;V. 83, p. 560.
In Oct. 1902 acquired $30,600,000 of the $60,000,000 Louisville A; Nash¬
ville RR. stock and in 1913 an additional $6,120,000.
On Dec. 31 1919
this $36,720,000 stock was on deposit along with $306,000 stock of Louis¬
ville Property Co., as security for the company's $35,000,000 collateral
trust 4s of 1902.
V. 75, p. 733, 792. 905; V. 79. p. 785.
STOCK.—Atl. Coast Line of Va. class A (Rich. & Pet. ctfs.) tax-exempt
stock was assumed as so much of the com. stock of the new company.
DIVS. (%)—'06. '07. *08. '09. '10. '11. '12-'14. *15. '16. '17 to July '20
Oom.dncl.CLA.) 6
6 55)4 534
6
0
7 yrly
5
5 ■ 7% (334% s. a.)
Also In 1905 20% In com. stock scrip and 5% in Atlantic Coast Line Co.
4% certificates of indebtedness.
V. 81, p. 1558.
b Includes 3% paid in
Jan. in Atlantic Coast Line RR. 4% certificates of indebtedness.
BONDS.—In April 1914 the
Unified Mortgage of 1909 was closed and
a new $200,000,000 GeneralUnlfled
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.
Dep
United States Tr Co. N Y
do
do
Purposes for which the $200,000,000 General Unified Bonds were or are issuable
Issuable as Ser. A 434s to refund $30,749,484 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 4% convertible debentures are redeemaole at 105 and were con¬
vertible into common stock at $135 a share to Jan. 1920.
V. 97, p. 1513.
As to the $35,000,000 collateral trust 4s ol 1902, see "Organization"
above.
They are subject to call at 105 in amounts not less than $100,000.
There were outstanding Dec. 31 1918 $15,000 Bruns. A West. Incomes.
The Washington A Vandemere 4 34s ($1,500,000 authorized, of which
$720,000 outstanding) are guar., p. A
by endorsement.
V. 84, p. 1240.
As to Winston-Salem South Bound RR. guar. 4s, see that company.
Equipment bonds (434 g.) of 1911. due 1921.
See V. 93. d. 1323.
Equipment
trusts
issued
to
Director-General
for
rolling stock
allocated to this company.
See article on page 3.
Federal Compensation.—$10,185,942 yearly during Federal control (con¬
Interest
Lines owned. &c. {Con.)—
Miles.
Sylvan Lake near Sanford to
St. Petersburg, Fla
145
Palatka, Fla., to Brooksvllle..
145
MUldale, Fla., to Perry
163
Safe
The 10-year secured notes of 1920 are redeemable on
$1,408,9571 Tot. p.&l. sur.14,241,671 13,836,191
Chairman, Henry Walters.—(V. 107, p. 1836; V. 109, p. 1526.)
Lines owned and trackage— Miles.
Richmond, Va., to Port Tampa,
Fla
907
union Trust,N Y
Central
1 1939
1 1940
11934
J
1 1936
J
1 1938
N Nov 1 1928
J
1 1945
J
1 1924
J
o
5
Net income-.$1,452,448
★ ATLANTIC COAST LINE RR.—(See Map.)— Operates from Richmond
and Norfolk, Va., to Fort Myers, Moorehaven, 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.
First Nat Bk. NY, ABalt
Safe Dep A Tr Co. Bait
1923 at 100 and int. plus a premium of 1 % for eacn year to maturity. Se¬
cured by pledge of $10,000,000 Gen. Unified 4^s, 1964. V. 110, p. 2075 .
bonds of Atlantic Coast Line RR.—see below and V. 109, p.
as a
A
do
Brown Brothers, NY
O
A
A
1.250,000
Jan. l-Mar. 31
certificates of
A
A
1.000
1881
Y
do
1 1940
A
390,600
230,000
Y
A Tr Co, Balto
Meroh Nat Bk. RIoh'd.Va
1 1920
F
1,000
1894
United States Tr Co. N
J
225.000
City, 10.16 miles; tota 1,170.18 miles.
V.72, p. 1278.- STOCK, common,
52,625,000; pref., 51.000,000 (par, $50). Reading Co. owns over 99% of
Btock, and guarantees oonsol. 4s, prin. and Int.
Form of guaranty, V.
75. p. 1398.
Of the latter, $2,649,000 are reserved to retire prior Hen
bonds.
V. 73, p. 81.
There are $22,300 Sea Coast "A" 5s; $1,200 "B" 5s.
The 1st 5s due May 1 1919 were extended at 534% interest until May 1
1929 (subject to call at 105 on and after May 1 1924), and unconditionally
guaranteed, principal and interest, by the Reading Co.
V. 108, p. 1721.
1920.
o Oct
o
A
J
100
Ac
CITY RR.—Camden to Atlantic City ,58.35 miles; branches,
Junction
to Cape May,
N. J.,
54.10
miles:
Wllilamstown,
miles-Gloucester, 10.85 miles;
Sea Isle City, 12.35 miles; Ocean
$755,046
def.17,085
A
A
•
0,500,000 5 g A 0 g
7 g
1,500,000
4 g
1,407,000
5 g
2.800,000
4 g
2,418,000
4 g
275,000
4 g
3,925,000
4 g
1,525,000
1,797,200 3 in 1919
325,000
6g
text
2.548,675
100
WInslow
EARNINGS—
A
434 g A
& 5 g J
5 g
1,000
1,000 Ac
1894
A ATLANTIC
Gross.
A
5.484,000
303,000
1,022,900
400,000
225,000
$281,448.
For year 1918 the company reports a balance of $283,070 after
deducting war taxes ($281,352); deduct common divs. (6%), $147,816;
bal., sur., $135,254.
Pres., C. A. Wickersham.
V. 110, p. 1288.)
1919
and
Payable
Safe Dep
July 1 1948
J July 1 1920
J
4 g
5 g
g
106,000
$100
500
1912
1903
17.7
88
J
Text
£
53
82J4
—
Norfolk,
are
United States Tr Co. N
S July 1 1952
J
1 1933
400,000
50
24
Augusta & Savannah—Stock 5% rental Central of Ga
Augusta Southern—First consol mtge gold—..Ce.xc
Augusta Union Station—First M 5250,000 gold.SBax
Austin & N W—See Houston A Texas Central
Avon Geneseo & Mt Morris RR—Stock (see text)
Baltimore Chesapeake & Atlantic—1st M gold.Mp.zo
Bait & Cumb Vail Ry—See Western Maryland Ry
B & C V RR Exten—Stock gu (5270.000 carries 7%).
First mortgage Interest rental
MeBa
Bait & Harrisburg Ry—See Western Maryland Ry
x Further $388,750 In treasury Dec. 31 1918.
A
A
1,314,000
1919
167
Atlantic & St Lawrence—Stock 6% rental Grand Tr'k
Atlan & VVest'n—1st M 51.500.000 g red 105—FBac*
A
J
July 1 1935
A Aug
1947
4,000,000 4
100
■
96
p&i by Norf So.Eq.yc*
J
5 g
6 g
800.000
300.000
1,000
1.000
1,000
1,000
1,000
1,000
500 &c
1,000
1,000
1,000
1,000
1,000
M
4 g
6 g
4 g
$1 OOO&c x$5 0938000
1,000
657,000
1,000
5,547.000
868,000
1,000
479
•
RR. Co.)
Dividends
Line RR (Concl)—
Bonds to be Refunded by General Unified Bonds—
cons (1st M on 1,087 miles) closed._F.xc*<kr*
North East (S C) Oons M gold Flor to Charleston.xo
First
22.67
Places Where Interest
Dividend
Road
RAILROAD COMPANIES.
[For abbreviations, Ac.. see notes
13
RAILWAY STOCKS AND BONDS
6s
1st
'94.
2
-95.
'96.
'97.
'98. '99. 1900-04. Underlease
0
2
2
2
2
0
as above.
& I. by Norf. So. RR. (V. 105, p. 714).
are guar. p.
ATLANTIC QUEBEC &
WESTERN RY.—See page 136.
24
★ ATLANTIC & WESTERN RR.—Sanford to Lillington N. 0-m.;
H. C. Huffer Jr. controls the company.
V. 94, p. 1249.
Stock, $303,000,
par.
Bonds Issuable at $12,000 per mile.
$100.
For
bal.. def^$14^466.
Tr^s., W:m. <0.
See table aboYe.
1918, gross. $38,139; net, $4,831; charges, $19,573;
Pres., H. C. Huffer Jr., Baltimore, Md.j Sw. &
Annual compensation under Federal control, $12,660.—(V.
year
V.
108,
p.
2021.)
9o, p. iuoo,
po
Ga.. 53
*n
stock.—(V. 106. p. 709.
4-AlICUJSTA SOUTHERN RR.—Owns from Augusta to Tennille, Ga.,
to 5imiles. The Southern Ry. in March 1917 sold Its majority Interest to
Georgia & Florida RR. WUchsee).
V. 73. p. 343. ^reuant to order or
Richmond Co. (Ga.) Supreme Court, was sold at public auction on Oct. 7
1919 to Georgia & Florida Ry., subject to lien of 1st M. bonds.
Govt.
compensation while under Federal control, $2_,587 p. a.
Y* 2 ✓Pin*'
Com. stock, $400,000; pref., $350,000; par, $100.
The 1st M. bonds^nt.
★ AUGUSTA & SAVANNAH RR.—Millen to Augusta,
1895 re-leased to Cent, of Ga. for 101 yrs.at5% on
duo June
1
1918 was paid on or about
&
V. 107, p. 905. Year
$28,091; other income, $12,304;
Franklin Q. Brown, of Redmond
Aug. 29.
ending Dec. 31 1916, gross, $181,830: net,
rentals, $42,921; bal., def., $2,526.
Pres.,
Co.—13^109, n. 886.)
★"AUGUSTA UNIONISTATION 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 on
took.
Stock, $75,000 (25% paid In), held equally by Southern Ry., Atlan-
*8253.
RAILWAY STOCKS AND BONDS
*g=T'
14
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rate
When
Last Dividend
[For abbreviations, Ac., see notes en first page]
Road
Bonds
Value
Outstanding
%
Payable
and Maturity
Baltimore & Ohio—Common stock $210.250.000
Pref stock 4 % non-cam authorized $60.000.000
Prior Lien mtge gold (closed) not call
Bajtc* Ar
First M cold red at 105 after July 1923—Uz.xc* Ar
SouthwDlv 1st M$45.000,000e.
Fxc* Ar
Pitts Juno A Mid Dlv $20,000,000 1st M g_Ce.xo* Ar
P L B A W VSys ref g red 100 after 1925-Unac*Ar
Convertible bonds redeemable (text)
Ce.xc*Ar*
RefAOenM Ser A g (call, all
ToledoOlndnnat
1898
1899
1898
1901
922
380
1,645
1913
4,508
1915
text
105 beg*25)y G.c»Ar*
Bayc»Ar*
Dir. /Ser. A call 102 X
$100 $151945549 See text
100 58,863.275 4 In 1919
Ac 74,910,175
3H g
4 g
Ac 81.995,705
3H g
Ac 44,991.630
3 H g
Ac 56,124,500
4 g
1,090 43.000.000
4Hg
500 Ac 63.250.000
5 g
60.000.000
100 Ac 11.020.200
4g
100 Ac
5,000,000
j>g
3,000,000
1,000
3 g
'6
<
1,000 35.000,000
500
500
500
500
1898
1,085
1,667
1917
1917
1919
1919
-
1st A Ref Mtge
I Ser. B call 105-Bayc»Ar*
Collat trust M (closed) g call 101 (Coal A Coke By )
Secured Gold bonds call 102 H (text) Usm.xxxc*Ar*
text
—
_
Under lyingToledo A Cincinnati Die. Mtge.—
Oln Ham A Dayton 2d (now 1st) mtge gold—Pre*
60
60
All
Equipment trusts Ser A due $116,000 seml-annBa.x
Other equipment trusts as of Dec 31 1918
Plqua A Troy 1st M $250,000 gold guar p A 1—xc
Dayton A Michigan (leased) com stock (guar)....
Preferred (8% guaranteed)
endorsed
9
GENESEO & MT.
p.
512; V. 62.
1920.
A
1892
L. B.
Jan. 1 -Dec. 31
1919.
1918.
EXT EN.—Waynes¬
Pittsburgh A Western
204
Cleveland A Tol, Br_.
48
xPittsb. Painesv. A Fair. Br..
Monongahela River Br
xClev. Terminal A Valley
xCleve. Lorain A Wheeling Br_.
Wheeling to Cleveland, Ao_.
50
37
83
198
xOhlo River Lines—
264
_
South W. Die. ZH% M.—
West Virginia Short Line Br
Belpre, 0„vlaClno. toSt.L..Ao. 922
xOhlo A Little Kanawha Br
Pitts. Jct.ZH% M.—(380 miles)
xOther purchased lines
Bellaire to Midland City, Ohio!
Lines Under OtherMtges.—
Shawnee to Sandusky, Ohio../
374
Toledo Division
Pittsburgh Junction RR
6
P.L ,E. A W.V.i9y* .4% Af.(•1,647m.) Coal & Coke Ry
West Virginia A Pittsburgh...
177 Sundry branches. Ac
62
72
70
390
197
324
.....
Total of all
5,151
•
Includes 379 m.. also covered by Pitts. Jet. 1st M.
a See this company.
x The company has purchased these lines. Long Fork
Ry., V.109, p.1980.
Owns B. & O. Chic. Term. RR., $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
station in N. Y. City.
V. 106, p. 1688, 1795.
use the Penn, RR. passenger
HISTORY .—Receivers were
appointed in Feb. 1896, but in 1899 reorper P»an
v- 66, p. 1235.
See also V. 67.
p. 688. 1206, 1356; V. 95, p. 681. 1121. 1744; V. 96. p. 134; V. 07, p. 363.
The purchase of the Cin. Ham. A
Dayton (now Toledo A Cine.
RR.)
on
JMy 19 1917 added 390 miles to road operated (see "Bonds" below: also
V. 103, jp. 1991; V. 107, p. 1283.)
Subsequently the Toledo A Cin. RR.
aoquired the former Delphas Division of the C. H. A D., 95 miles in length,
now known as Dayton Toledo A
Chicago Ry.; see Toledo A Cincinnati
KK* In
107, p. 4P3;, Pn Feb- 1 1017 also acquired entire capital stock
°£ Qoal A Coke Ry. (which see), 197 miles, operated separately. Purchased
V. 110, p. 969.
&0'—ln 1001 $68,565,000 (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.
STOCK.—Pref. stock, see V. 71. p. 1166, 1143; V. 72, p. 1186.
Union Pacific RR. In '18 owned $3,594,035 common and
$1,805,992
DIVIDENDS.
1900.
1901-04.
2
4 yrly.
1905.
1906.
4K -
1907-14.
5K
6 yrly.
1915-17.
5 yrly.
pref.
1918-20.
text
Preferred
(%) 4
4 yrly.
4
4
4 yrly.
4 yrly.
4
The pref. dividend has been paid as usual to and including Mar.
1920, but
owing to delay in the signing of the contract for Government operation
the common dividend due Sept. 11918 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
for capital expenditures so that
the[company's credit should not be extended
under existing conditions.
V. 108, p. 2628; V. 109, p. 269.
BONDS.—(1) Prior Lien 3H%, a first lien on main line and branches,
Parkersburg branch and Pittsburgh division, about 1,090 miles of first track
and 1,753 ml'as 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
v-69'p- 3°:v- 78,
p.
1906; V. 86,
p.
1528; V. 86,
p.
36.
(2) First M. 4% Bonds. Due July 1 1948; a first lien on the Philadelphia.
Chicago and Akron divisions and branches and the Fairmont Morgantown A
Pittsburgh RR., covering about 583 miles of first track and about 908 miles
of
second, third and fourth tracks and sidings; also
by the B. A O. Term.
on
1 1937
J
the properties covered
~
~
■
Sept 11930
July 11922
Office. 2 Wall St. N Y
J
do
do
do
do
A
0 Oct
11933
do
do
A
D June 11936
J
do
do
do
N Nov 1 1995
do
A
A
do
11930
J Jan
A
A
Coups.
TJn Sav Bk A Tr Oo. Oln
Apr 1 1920, IK Cincinnati, Ohio
do
Apr 1 1920, 2%
Jan 1 1931
JP Morgan A Oo. N Y
J July 11922
£ g
*
5
c
1920
Various
Nov 1 1939
A
M
g*
5 g
To June 1
A
&
g
J P Morgan A Go. N Y
Kuhn Loeb A Co., N Y
July 1 1959
J
5 g
r,
s
A
do
J
4 H g J
M
4 g
£ *
6
do
Cos office N Y A Bait
New York
D June 1 1942
J
on stock, 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;
total mileage leased, owned and operated on Dec. 31 1918,*5,151 m. "Royal
Blue Line
(see Central RR. of N. J.) gives access to New York.
The system embraces, subject to mortgages, the following lines:
Common..—1%\
J Jan
do,
Go's office. 2 Wall St,NY
July 1 1959
April 1 1924
1 1929
5 g
1882
1995
J July
5 g
48
1
J July 1 1959
5,000.000
890,000
950.000
8,301,000
228.000
2,000,000
1,000
2,941,000
1,000
361,000
1,000
303.000
1,000
441,000
1,000
300,000
1,000
A W.Va. Sys. 4s.
more
the Morgantown A Kingwood RR. in Feb. 1920.
A
g M
5 g
1,000
1,000
1,000
1,000
1,000
and dividend
ga^,i^Sd,!lti10?LtorS5losure'
J
J
O
414
6g
boro to Shlppensburg, Pa., 26.52 miles.
Leased to Western Maryland RR.
for 50 years from July 1 1881, with privilege of renewal, for Int. on bonds
xPlttsb.
A
1,009,000
934,000
243.000
...
Pr.HenZH% M.—(1,090m.)Miles.
Bait.to Wheeling, Before,O..Ao. 759
Dumb, to Pittsb. A w.,' Ac
331
1st Mtge. 4%—(583 miles)—
Bait, to Phila. and branches...
133
Chicago, 111., to Akron, Ohio..
364
Branches to Fairmont,W.Va., Ac. 86
A
A
1,000
-
RR.
A
J
I*
50
318, 589.)
& CUMBERLAND VALLEY
J
1,000
1,000
1,000
50
$257,706 $274,287 $1,603,332 $1,436,439
Net
91,086 def.7,455 def.13,176
7,505
In year 1918,
Govt, compensation, $86,647; other income, $11,867;
charges, $253,085; bal„ def., $154,570 (charged to profit & loss).
President,
W. H. Myers; Sec., L. Neilson; Treas., Geo. A. Walker; Fede
Federal Manager,
Elisha Lee. Phila., Pa.- (V. 108, p. 1721; V. 109, p. 774.)
★ BALTIMORE
do
1881
3
Pitts.
1919.
do
1886
.
-Jan. 1 -Mar. 31
a.
do
J
D
A
5
116,000
Various
813,000 4H 4 5
M A
4 g
N
7,000
A
A
O
2,396,950
Q—J
1,211,250
J
J
A
2.728,000
★ BALTIMORE CHESAPEAKE & ATLANTIC RY.—Owns Claiborne to
City, Md., 87.06 m.; Salisbury, Md., to Fulton, 0.55 m.j from Clai¬
borne to Baltimore, 44 m.. transfer to made by water; steamer lines owned,
1,116 m.; total of all, 1,203.61 miles.
The Penna. and allied cos.own all
the $1,000,000 common and 95% of the $1,500,000 6% cum. pref. stock.
V. 92, p. 525, 593.
Dlv. on pref., 2% Mar. 1 1905; In 1906. 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,
2K%: none since to May 1920.
Federal compensation, $86,647 yearly
during Federal control (contract executed).
LATEST EARNINGS.
do
do
D Dec
A
Ocean
Gross
do
141
..x
p.
A
A
Leased to Erie RR. Feb. 26 1896 in perpetuity; rental (after 1911).
ZH% on stock.—(See V. 63.
do
11941
N Nov
A
RR.—Mt.Morris to Avon, N.Y., 17.7
MORRIS
Nov 1 1925
A
J
do
do
do
8 Mch 11933
A
M
do
51
C
M
J
tic Coast Line BR. and lessees of Georgia RR. V. 78. p. 2333; V. 79, p. 500.
Pres., Chas. A. Wickersham; Sec., W. H. Vincent.—(V. 82, p. 48.)
*AVON
A
A
J
1,000
...
miles.
Go's office, 2 Wall St. NY
A
J
4* g J
1899
1871
1871
1882
6
Pittsburgh Junction 1st M gold
Ba.xc*
6 1894
Pittsburgh Junction 2d M gold
Ba Jto*
Bonds Underlying Pittsburgh Lake Erie A West Vir ginia
4s—
Olev Lor A Wheel oons M (now 1st) gold.Usm.xc*
198 1893
General mortgage g redeem 105
198 1896
—N.xc
Cons Ref M gold red at 102H
198 1900
Eq.xc
83
1895
Cleveland Term A Valley 1st M gold guar_ Ba.xo* Ar
Ohio A Little Kan By 1st M $250,000 red 105 g—*
72
1900
Ohio River 1st M g
166
1886
FP.xo'
■General mtge gold 1st on 39 miles
208 1887
—xo*
1890
Rav Sp A G1 1st M g guar p A 1
33
_FP.xo*
11
1892
Huntington A Big S 1st M g guar
—xo*
collat. lor
2% Go's Office, 2 Wall St.NY
do
do
2%
July 11925
July 1 1948
J'l July 1 1925
143
A lendextln 1911 red 102H beg'17-c
Underlying PUis June A Mid Die M 3 Ms—
MeBa.zc
Ox
S Mch 1 1920
A
182.000
Var
Gent Ohio $2,500,000 con 1st M (1st loan)g
Pittsb Cl A Tol 1st M g
Kllwood Short Line 1st mtge gold.
6 In addition $8,711,550 pledged as part
S Mch 11919
A
J
2,000,000
3.000.000
1892
1910
1st M gup
Bonds
A
M
1,000
1.000
1909
Places Where Interest and
Dividends are Payable
M
$ A £
1,000
1887
General mortgage $7,800,000 gold
xc*
C H A D By 1st A Ref M,
part guar—Ba.xc*Ar*
[VOL. 110.
A
F
A
A
do
do
D June 11938
O Apr 11937
A
J
do
11950
do
do
do
do
do
do
do
do
S Mch
A
A
Aug 1 1920
1 1922
J July
O Oct
1 1922
Office,
2 Wall St, N Y
J
A
J Jan
11922
Co's office. 2 Wall St. NY
M. A N.; reg. Int. Q.-F.
11 Reg Int. Q.-J.
Total Issue closed at $82,000,000 (V. 104, p. 1044), except for $75,000,000
1925.
reserved to retire prior lien bonds In
(3)
Southieeslern Division 1st M. ZH$.
Virtually a first lien
former B. A O. 8. W. system, 922 miles of 1st track and
upon
570 miles of 2d track and sidings.
All issued
45,000.000
t) B.AO.. Pittsb. Jet. A Mid. Dlv. 3 M*.
Expected to be ul¬
timately a first lien upon the railroads of the Central Ohio
system and Pitts. JCt. RR. Co., 380 miles in all.
Total
$20,000,000
$6,124,500 is In hands of the public and $8,711,550 pledged under Pitts.
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
(authorized amount $75,000,000)
are
a
lien
on
1,647 miles,
forming a direct connection with Pittsburgh, Cleveland, Falrport, Lorain
and Sandusky, subject to underlying bonds outstanding thereon (see table
above).
In Dec. 1918 $43,488,302 additional underlying bonds, inclnding
$8,711,550 Pittsb. June. A Middle Dlv. 3 Ms, were held In trust as part se¬
curity.
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. 715.
bonds
(7)
Convertible
20-year
4Hs
$63,250,000.
dated
March
1
1913.
will
be convertible Into common stock
up
to Feb. 28
1923 at $110 per
share and redeemable beginning March 1 1923 at 102H.
These 4Ms are
secured by the new blanket mortgage below described pari passu with the
bonds. See V. 96, p. 134
200, 651, 715, 1088, 1421; V. 97. p. 727.
Schuylkill River East Side 4s.
V. 77. p. 1745; V. 81. p. 727.
new
.
(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.
1915.
See below: also V. 101,
p. 1884; V. 102, p. 975; V. 103, p. 1989.
In
1919 an additional $15,000,000 was
pledged as part collateral for
$35,000,000 Secured Gold bonds.
What additional amounts, if any, are
pledged to secure advances from U. S. Govt, is not made public.
June
Security.—Secured on practically entire system, 4,517 miles of first trade,
equipment or interest therein, having In 1918 a net value of over
$129,303,078 Also covers the passenger and freight terminals In Philadel¬
phia, Baltimore, Pittsburgh and Chicago and the freight terminals oa
Staten 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 lien npon about 2.295miles of first
track, and a lien, through the deposit of bonds, and in most cases ail. and
In 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 $63,250,000 con¬
vertible gold bonds [these last being secured by the new mortgage pari
passu with the bonds issued thereunder] and provides for the reservation of
bonds for construction. Improvements, new equipment and the acquisition,
directly or indirectly, of properties and securities.
The right to reserved to
refund the Prior Lien 3J4a into 1st M. 4s of 1898 due 1948, and to extend
the due date of the S. W. Dlv. 3Hs to date not later than July 1 1950.
The authorized Issue is limited to an amount which, together with all the
prior debts of the Railroad Co., after deducting therefrom the bonds re¬
served under the provisions of the mortgage to retire prior debts at
maturity,
shall not exceed 3 times the then outstanding capital stock, with the addi¬
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
an amount not exceeding 80% of cost of work done or
property acquired.
and
(9) Toledo-Cincinnati Div. Bonds.—In July 1917, following foreclosure
sales, 390 miles of the former Cincinnati Hamilton A Dayton Ry. System
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, $16,250,500 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 Mlddleton, 13 miles;
PiquatoTroy, 8 miles; Dayton to Ironton Jet., 123 miles; other, 8 miles.
The B.AO. RR. having acquired all the securities issued by the Toledo
A Cincinnati
RR., made a deed of trust covering the same to secure not
exceeding $35,000,000 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
under the plan.
The remainder were reserved to retire at maturity or
earlier the bonds undisturbed 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 & 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 Is
secured by pledge of all the $5,000,000 1st M. 5s of Coal A Coke
Ry. due
1924. See V. 108, p. 1273.
(11) The $35,000,000 6% Secured Bonds dated July 1 1919 have as se¬
curity: $6,000,000 Reading Co. First Pref. stock; $14,000,000 Reading Co.
Second Pref. stock; $9,200,000 Reading Co. Common stock; $15,000,000
B. A O. Ref. A Gen. Mtge. 6% bonds, Series "B," due Dec. 1 1995.
The
trust indenture provides that the aggregate value of the collateral
deposited
shall always be maintained at least equal to 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. until a
total of $17,500,000 has been set aside, such sums to be
used, from time to
time, solely for capital expenditures 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 ni
subsequent years.
Y. 108, p. 2628.
US
cn
Q
55
©
M
CO
M
8
£
5*
5!
d
3-
BALTIMORE a OHIO
SYSTEM
Baltimore a Ohio
Baltimore a Ohio
RR.
Southwestern R.R.
Baltimore a Ohio Chicago
Terminal R.R.C&
Ry Co.
Cincinnati, Hamilton a Oayton
and Connections
o
©S
£3
★Government
16
APrlvat*
RAILWAY STOCKS AND BONDS
Contract.
BAlZtBOAD COMPANIES
Miles
Date
Par
Amount
Rate
When
Last Dividend
[For abbreviations, Ae., see notes on first page]
Road
Bonds
Value
Outstanding
%
Payable
and Maturity
Salt & Ohio (Concl)—
177
scaled, red at par_._Me.Ba.xo*
KquipbdadueJl.OOO.OOO ylyggu(V94p349)GPxo*&r
WVa&P 1st M g 6s
do
do
1917
13
1893
37
Hampshire So 1st M gold
!
Coal & Coke Rysee that company, also text below
Jamison C & C car trusts $100,000 yly guar
UPi
1909
1916
1886
1888
1910
Bait fitOhlo Chic Term RR—Ch&GtW IstMgass'd.vk
City of Chicago purchase money mtge assumed
First mortgage $50,000,000 authorized
x
Baltimore & Potomac—See Phlla Bait & Wash.
Bangor & Aroostook—Common stock
Pref stock 7% cum $10,000,000 auth
First mortgage ($16,000 per mile) gold
G.xxo*
First mtge Piscataquis Dlv $1,500,000 g__G.xxc*
V Bur Ext 1st M $500,000 g (V 69. p 952).G.xxo*
Aroostook Northern 1st M $225,000 gold __G.xxo*
Oonsol refunding mtge $20,000,000 gold___OB.xo*
33
15 H
412
28
$1,000,000g(V84,p692)Us.xxo*
M g (V 90,p 848,913) -Ce.c*xx&r
Medford Ext 1st M
55
60
$1,800,000 guar Ce_xxo*<fcr
due yearly
Guaranteed by Bangor A Aroostook
Nor Me Seaport 1st M guar p A 1 end—Usm.c'&r
Van Buren B'ge 1st M g gu p&l end red text Usm-c*
Bath & Hammond sport—First mo. Extended gold_z
St Johns Rlv Ext 1st M
Second mortgage.
4 g
1.000
1909
1,000
1.000
1,000
1,000
1,000
1,000
1,000
&
&
1 1990
518
&
D June 11925
434 g J
&
D June 1 1943
17
J
&
J July 1 1934
N
M
&
J
&
N May 1921
D June 11936
J
6
3,860,000 See text
7
3,480,000
3.360,000
I Z
1,500,000
I z
X500.000
§ g
225,000
5z
n6,331,000
iz
1,000,000
t z
pi, 618,000
ml,632,000
5
68,000
Ig
A
O Oct
O Oct
&
A
&
1 1919
2
1 1919
3X
1943
1943
Jan
1943
1947
Oct
July 1 1951
May 1 1937
Aug 1 1939
Aug 1 1939
J Jan
O Jan
A
A
A
O
A
O
A
J
MAN
F
A
A
F
A
A
4,743,000
250,000
5 Z
6 g
A
"io
5
A
49
1909
1.000
883,000
50
6.000,000
.1886
1,000
5, '300.000
t,000,000
O Apr
A
O Oct
A
Equipment
trusts
Issued
to
Director-General
Federal
Compensation.—$30,031,009
for entire system.
V. 109, p. 1981.
—Jan.
LATEST
EARNINGS.-
for
rolling stock
al-
See article on page 3.
ocated to this company.
yearly
during
-Jan.
1-Mar.Sl-
1920.
1919.
control
Federal
1 -Dec.
1919.
311918.
Net
REPORT.—For cal. year 1918, V. 109, p. 1981.
Cal. Year
June 30 YrCal. Year
r 1917.
1916.
1916.
4,998
4,724
4,712
4,539
$129,047,317 $102365,763 $95,596,677 $88,476,032
30,676,947
19,990,255
16,743,708
14,971,472
14,467,183
11,257,903
9,453,456
8,221,176
Cal.
Year
1918.
Average miles
Freight—
Passenger—
Mail, express, &c
Total net income
Interest, rents, &c
Pref. divs. (4%p.a.)___
Common divs—...(4X
$32,945,691 $32,537,996 $36,010,056 $34,483,439
21,951,801
24,442,766
22,825,665
20,867,223
2,354,531
2,354,527
2,354,527
2,354,527
%)6,837,432 (5)7,597,148 (5)7,597,226 (5)7,597,226
sui\$l,801,927df$l,856,445 sr$3,054,008 sr$3.664,463
Balance
OFFICERS.—Daniel Willard, Pres.; Geo. M. Shriver, C. W. Galloway'
F. C. Batchelder, Archibald Fries, V.-Pres.; S. Ennes, Gen. Mgr.
Eastern
Lines; H. B. Voorhees, Gen. Mgr. N. Y. Terminal Lines; R. N. Begien,
Gen. Mgr. Western Lines.
V. 110, p. 871.
Directors.—R. Brent Keyser; Robert Garrett
John
do
do
do
1 1935
50 Church St, New York
do
1 1923
do
J
Jan.
LATEST EARNINGS—
1 -Mar. 31
Jan. 1 -Dec. 31
1919.
1920.
do
do
Grand Cent Terminal,NY
do
do
1918.
1919.
$1,451,593 $1,349,734 $5,287,299 $4,863,222
def.30,866
119,440
293,926
623,705
Net
REPORT.—Years ending Dec. 31.
Cal.
Total Net
Interest,
Pref
Common
Balance,
Income.
Rents, &c.
Div.
Dividends.
Surplus.
$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--.
4,384,561
1,625,012
1,131,839
43,166 (4) 154,400 295,607
Operating
Year—
Revenue.
1919—_
Federal compensation
Chairman
accrued for year; comparisons
faulty.
cfExec.
Comm., John Henry Hammond; Pres., Percy RTodd; V.-Pres., Frank C. Wright; Treas., Wingate F. Cram; Asst. Treas.t
F. A. W. Field; Gen. Mgr., W. K. Hallett; Gen. Counsel, Henry J. Hart—(V. 110, p. 1288, 1972).
★ BATH & HAMMONDSPORT RR.—Bath, N. Y.; to Hammondsport,
N. Y., JO 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 1 1929.
—(V. 110, p. 969.)
,
—$174,191,448 $133613,321 $121793,842 $111668,680
$13,599,268 $30,589,107 $34,013,688 $32,348,876
Oper. inc. (after taxes)__
8,795,292
25,112,068
29,804,087
28,639,064
Federal compensation
27,744,740
Other income
5,200,951
6,425,928
6,205,969
5,844,375
Total gross
Net earnings
Baltimore;
do
A
Gross
x
$48,711,998 $36,897,240 $182,620,016$174,191,448
1,084,991 def4,241,336
12,750,890
13,599.268
Gross
do
See "x" below
Brown Bros & Co, N Y
do
do
1901
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¬
ment trusts of 1917, V. 104, p. 1386.
Jamison O. & O. Cc. car trusts,
guar. p. & i. by B. & O.; V. 103, p. 410.
Checks mailed
do
do
Guar Trust Co, New York
61 Broadway, New York
J July 1 1939
Apr 1 1920 1% Grand Cent Terminal,NY
Q—J
do
do
A
J July 1 1036
J
4 g
G.
Shodd, Chicago:
Felix M.
and Hugh L. Bond Jr.*
Warburg, James Speyer'
W. Averill Harriman, L. F. Loree, Charles A. Peabody, John R. Morron*
N. Y.. and F. H. Goff, Cleveland.
Office, 2 Wall St.—(V. 110, p. 260'
871, 969, 1088.)
BAY
OF QUINTE RY.—See Canadian Northern
Railway.
★ BEAUMONT & QftEAT NORTHERN RR.—Owns Livingston. Tex.,
to Weldon, 48.3 miles.
Stock, $50,000. all acquired In 1912 by Missouri
Kansas & Texas Ry., which guaranteed the bonds, principal and interest.
M. K. & T. Ry. of Texas leases road for 99 years from May 1 1914.
In
Sept. 1919 interest was being regularly paid when due.
Pres., C. E.
Schaff; Sec., C. S. Sherwin.—(V. 98, p. 999; V. 107, p. 180.
★ BEECH CREEK RR.—(See Maps New York Central Lines.)— ROAD.
Jersey Shore. Pennsylvania, to Mahaffey, 112 m.; branches to Phllllpsborg.
mines, &c.. 52 m.; total, 164 miles.
Leased In 1890 to N. Y. Central Jt
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. 52, p. 570.
The
bonds are endorsed with N. Y.
Central's guaranty of prln. &jJnt. See
V. 52, p. 670.
Assumed by N. Y. Central on consolidation, Dec. 23 1914,
Guarantees Interest on $717,700 Clearfield Bituminous Coal let 4s due
Jan. 1 1910—see that co. under "Industrials."—(V. 106, p. 497.)
to
★ BEECH CREEK EXTENSION RR.—{See Maps N. Y. Central Lines.)
—Clearfield, Pa., to Keating, 52.14 m.; Curry to Curwensvllle, 15.77 m.)
Dimellng 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 & H. R. RR. (which owns entire $6,179,000 stock and $3,964,000
consol. 4s) for 999 years from June 11905. bonds being guar., p.
& OHIO CHICAGO TERMINAL RR.—Property congists of passenger 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
★ BALTIMORE
track
operated, 300 miles, of which 266.49 is owned, 83.05 of the latter
Total first track Including trackage 91.46 miles.
being first track.
HISTORY.—Successor to Chicago Terminal Transfer RR., foreclosed In
1910. V. 90, p. 166, 108, 235, 625. Stock, $8,000,000. all owned by B.&O.
TENANTS.—Bait. & Ohio, Chicago Great Western, Chicago Hammond
Sc. Western Ry. (Indiana Harbor Belt). Suburban RR. (Chicago & West
Towns), Pere Marquette, Ch. Terre Haute & S. E. Ry. and Minneap. St.
Paul & Sault Ste. M.
V. 77, p. 948. 2158; V. 79. p. 901; V. 96. p. 486.
Total minimum rentals from tenants, $1,335,687 annually.
V. 79, p.2084.
BONDS.—Of the 1st M. bonds of 1910, the $32,000,000
owned by B. & O.
RR. and pledged under its Mtge.
outstandinglare
V. 90,
p.
1295.
BANGOR & AROOSTOOK RR.—Stockton Harbor, Me., to
Buren, with branches; Dec. 31 1919, 625.82 m. (568 owned in fee).
Van
ORGANIZATION.—See V. 66, p. 855.
(1905. 1906.
—
j 1H
1907-12 '13. '14. '15. '16. '17.
-First authorized in
2_. 4 yearly _ 3 _ 3)4.1917- 3
3„
5
'18TT9
4
4
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,
•ee below).
V. 105, p. 1616; V. 106. p. 1788.
BONDS. &c.—Piscat. Div. 5s, see V. 67, p. 1159; V. 68, p. 84, 329.
Of the Consol. Ref. 4s, $12,500,000 were reserved to pay off outstanding
bonds. Including those of controlled roads, oar trusts and pref. stock,and to
such controlled roads; $3,000,000 for Improvements over a series
of years and" $4,500,000 for extensions at $25,000 per mile. Including equip¬
ment.
V. 73, p. 286, 896; V. 74, p. 93.
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 ($5,000,000 auth.).
V. 81, p. 265; V. 82, p. 392; V. 84, p. 391, 692; form of guar.,
V. 81, p. 727.
Van Buren Bridge Co. bonds are callable at 110 and int.
V. 100, p. 311; V. 109, p. 1460.
The St. John River Extension 1st 5s of 1909 ($1,800,000 auth. issue),
guaranteed, prin. & int., were Issued at $30,000 per mile.
V. 93, p. 939.
The Aroostook Construction Co., which owns control, has outstanding
^1,000,000 7% 1-year collateral gold notes due May 1 1920.
V. 108, p.
1722; V 104, p. 1803; V. 94, p. 1382; V. 95, p. 237.
acquire
Or the
★ BELT LINE RY. OF MONTGOMERY.—Owns real estate and a belt line
Montgomery, Ala., about 1 mile of track on Tallapoosa, Bell, Perry and
in
Columbus streets.
Atlantic Coast Line RR. pays an annual rental equal to
bond Interest and difference between taxes, lnsuranoe and cost of operation
and
gross
earnings
others than the Atlantic
from
Coast
Line.
Atlantic
Coast Line RR. owns entire issue of $200,000 stock; par,
$100.
V. 92, p.
1242; V. 93, p. 43.
Year^nding Dec. 31 1916, gross, $19,161; net, $12,250;
Int. on bonds, $12,250; bal„ none.—(V. 93, p. 43.)
★ BELT RAILROAD & STOCK YARDS OF INDIANAPOLIS.—Owns 14
&o.
Leased for 999 years to Ind. Union—whloh see.
miles of belt road,
DIVIDENDS.—Comf'09. '10. '11. '12. '13. *14.'15.'16.'17.'18.'19. '20
cash] 6
6
5
11
13
14 18 20 16 18 11 text
By calendar years,
{
50
331-3
—
—
—
In 1920: Jan., 3%; Apr., 3%.
Mortgage trustee. Union Trust Co., Indianapolis.
V. 89, p. 40; V. 92.
Pres., S. E. Rauh, Indianapolis, Ind.—(V. 102, p. 1249; V. 106, p. 394.)
★ BELT
Oct. 1919 merger of Northern Maine Seaport RR.—a 54-mile sub"
sidiary—with the Bangor & 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.
-
& i.
consols, $3,500,000 Is reserved to retire, $ for $, 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.)
Also stock
In
DIVIDEND.
Common %
Preferred %.
Pitts. Pa
Co, N Y
do
MAS Sept 1 1934
A
D June 1 1923
5s
Co,
RR
do
J
A
J July 1 1936
5g
A
O Apr 1 1951
3H g A
$1,000&C $3,500,000
56
4 g
A
A
O Apr 1 1955
3.964.000
1906
1,000 &c
135
Bos to n atLe e, Hlggtn sun & Co.
Coupons payableat Brown Bros. & Co.; In in NY
1919.
the trust ee in Oct
x
$19,00 0 held by
m p Also in treasury, n
$2,341,000; m $168,000; p 832, 000.
1.000
1892
Tr
O
do
J
10
100,000
200,000
6 g
164
&
Brown" Bros & Co, N Y
do
do
1,000
1,000
1.000
1,000
164
Phlla
State St, New York
Y, Farm L & Tr Oo
PennCo for Ins,&c,Phlla
1014
1889
1893
164
St.
seml-ann To 1921-1925
1905
„z
do
Walnut
Union
B
do
To City of Chicago
MAN May 1 1938
A
&
O Apr 1 1960
64
Bay of Quinte Ry—See Canadian Northern Ry.
Beaum'tfic Gt Nor—1st M g $17,500 pm red 102K--0
Beech Creek—Stock (guar 4% by endorsement)
First mortgage gold guar p & 1 (endorsed) Col .xo&r
Second M for $1,000,000 g guar p & I (end) .Un.xoAr
Beech Creek Exten—1st M $4,500,000 g gu p& IG.xo*
Beech Creek consol M $20,000,000 g gu p&l G,o*&r
n
1899
1899
1897
1901
1907
1909
M
K A
Ig
1,000
Payable
do
O To April 1 1923
N May 1921 to '26 New York
do
O Aprl 1921 to 27
100.000
t*
394,000
650,000
32,000.000 B&ORR
1893
'11-15
Oar trust Ser E & F part
O Apr
A To Feb 1 1922
5,000,000
511,000
5.000
1,000
100
100
211
77
&
&
4H
500
1903
are
Co.8 office, 2 Wall St N Y
Girard Trust Co. Phlla
&
7.000,000
1,000
1,000
9
Dividends
A
4 g
4.000.000
3.000,000
1,000
1,000
Places Where Interest amd
4Hg F
A
4H
$3,854,000
3,000.000
1.000
1916
Schuylkill River E S RR 1st M g guar p & lendor.x
Staten Island Ry 1st mtge $1,000,000 gold_.Ba.zo*
Washburn Ext 1st
$1,000
1,000
1890
1912
1913
802).OP.xc*
due $600,000 yrly call 10234
OPc*
due $1,000,000 yrly call 102>4_g_.QPyc*
due f1.000.000 yrly (V 97. p
do
Leased Lines and Other Securities—
x
[Vol. 110.
Control.
railroad
__
RAILWAY
(OF
In Chattanooga,
__
__
CHATTANOOGA)—Owns
V. 67,
Tenn.
p.
49
miles
of
belt
72.
Leased tili July 1 1945 to Alabama Great Southern RR.; rental guaran¬
teed to meet Interest qn first mtge. bonds, taxes and maintenance.
STOCK
1S300.000. owned
ncome
by Alabama Great So. RR.
There are also $24,0002nd
M. 4s (tax-free), due 1945, red. at par, int. at 4% paid in full to
★ BELVIDERE
DELAWARE
nunka Chunk, N. J., 67 miles;
RR.—Owns from Trenton,
1918.
N. J.i to Ma-
Flemlngton RR„ <fco.,
13 miles; total oper¬
ated, 80 miles.
Leased to United Companies and, March 7 1876, trans¬
ferred to Pennsylvania RR., which owns $244,600 of the stock.^JNet
earnings paid as rental.
I
Dividends.—1897 to 1905, 5% yearly: 1906 to 1911. 10% yearly; 1912.
7%; 1913, 6%; 1914, none; 1915 to 1919, 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
earned.
The Issues of 1885, 1887 and 1903 are guaranteed by the United
New Jersey
RR. & Canal Co.
EARNINGS.—In
1918,
Guaranty, V. 76,
p.
918.
$2,601,107; oper. Inc., $290,116; other
income, $13,572; int., sinking fund, &c., $150,555; divs. (4%), $50,120;
sur., $103,113.—(V. 110, p. 1088.
gross,
★ BENNETTSVILLE & CHERAW RR.—Owns Kollocks, S. O.. on Seahoard Air Line, via Bennettsville and Brownsville, to Sellers on Atlantic
Coast Line, 45 miles.
Dividends in 1912, 6%; 1913, 3%;
Stock, $250,000.
1914 and 1915, 5%.
Bond sinking fund, $3,000 yearly.
V. 92. p. 116.
Federal Compensation.—$29,078 yearly during Federal control (contract
executed).
Year end. Dec. 31 1916, gross,
$83,255; net, $26,270; Int. 'on bonds, &c.»
taxes. $7,387; divs. (9%). $22,500: bal..
def., $11,116.
W. R. Bonsai; Sec. & Treas., B. M. Edwards.—(V. 92, p. 116.
$7,500;
Pre®.
★Government
MAY*, 1920.
APrlvate
RAILWAY STOCKS AND BONDS
Contract.
RAILROAD COMPANIES
[For abbreviations, Ac., see notes on first page]
Miles
Dale
Par
Amount
Rate
When
Road
Bonds
Value
Outstanding
%
Payable
Bellingh & Nor—B B & B O 1st M $1,000,000 gsf _z
Belt Line Ry, Montgomery—1st M gold $300.0001
All
1901
1911
/ $1,000
1,000
Belt RR & Stk Yds. Ind—Stock auth $2,000,000—
Preferred stock cumulative
1st Refunding M $1,000,000
1
•»
...
~m
50
1909
1.000
1895
1,000
80
1885
80
1887
50
1893
1903
1.000
1,000
1,000
1,000
5 >O,000
654.000
322,000
955.000
150.000
1,220,000
1,040.000
49
50
...
80
1911
1,000
1905
1,253.000 See
1.000
1902
1,000
1.000
1907
1911
1912
1.000
M
oo
S
Sept 1 1925
do
do
F
&
A
Feb
do
J
A
J
Jan
1927
1933
do
4
34 6 J
&
J Jan
1943
5 g
5
A
J Jan
1941
1922
M
A
6
A
A
5
M
A
5
M
A
&
8c
&
N
Nov
May 1 1961
100
Ao
539,000
(?)
1,940,000
& LAKE ERIE RR.—Leases from Plctsb. Bessemer &
L,ake Erie RR. et al
Bessemer, near Pittsburgh, Pa., to Conneaut Harbor.
Lake Erie. Ac
with brancnes and spurs, a total of 251 miles, for 999 years
from April 1 1901; owns 9 miles; total, 260 miles.
V. 72. p. 137.
In 1918
a new branch was built to Inland Steel Co.
mines, 1.60 miles.
The com¬
,
pany 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%: 1915and 1916. 150%; 1917, 100%; 1918, 190%. Controlled by
U. S. Steel Corp. Guaranty on Marquette & Bessemer Dock & Nav. bonds.
V. 77, p. 1228; V. 76, p. 1358; V. 82, p. 160.
Jan.
1 -Dec. 31
1919.
1918.
$1,950,503 $12,508,699 $13,417,564
def.118.208
2,056,579
4,250,325
A
N
8c
A Feb
M
A
6
J
0
J
5
250,000
fif
25.000,000 8H% 19
3,858,000
34
1,000,000
34
4
13,500.000
1,000,000
44
2,015.000
5
5
3,627.000
1,000,000
5
,
i§02
A BESSEMER
M
F
199.600
1,000
100
1,000
1901
1.000
rH o
© 00
1,000
1912
1,000
1913
1,000
1913
1.000 8cc
1917
1,000 Ac
6 S
6 g
4 g
242.000
1917
Impt bds (not mtge) $4,500,000 due 1934 gu p & l.x
Impt bonds (not mtge) $1,000,000 guar. p. & l._z
do
do
do
$2,015,000 gu p&I.zc^&r
Bonds (not mortgage) $3,627,000. guar p<fel_zc»&:r»
Bonds $1,000,000 guar p&I
(V 105. p 715)—c*<fcr
Equipment trust obligations—See N Y Central RR
Boston & Lowell—Bonds—See Boston & Maine RR below.
$1,217,266; int., rentals, &c.f $1,735,248; add'ns &
impts., $1,500,000; div. (100%), $500,000; bal., sur., $289,861.—(V. 110,
p. 1088.)
income,
BINQHAM CENTRAL
RY.—See Ohio Copper Mining Co. In V. 104.
p. 1391; V. 103. p. 1122, 1415, 2237.
135.
A BIRMINGHAM COLUMBUS & ST. ANDREWS
RR.—Chipley to
South Port, Fia., 38 miles.
A. D. Campbell, receiver, Chlpiey, Fla.;
Wra. H. Kreider, Gen. Counsel. 416 Pennsylvania
Bldgs., Philadelphia.
Judicial sale ordered, but not sold to April 1 1919.—(V.
105, p. 2542.)
★ 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
gold notes of the BIrm. 8c Northw. Co. (of Dela.), guar. prln. & Int. by
Mercantile Trust Co. of Jackson, Tenn.
These notes
were
paid March 1
1916.
V. 96, p. 1295.
Federal Compensation.—$34,523 yearly
during Federal control.
Cal. year 1917, gross, $158,305, against
$146,166 in 1916; and net after
taxes, $26,701, against $24,736.
Pres.. A. B. Tigrett; Vlce-Pres.. O. W. McNear: Sec.. R. F. Spr&ginR:
Treas., J. E. Edenton.
Office, Jackson, Tenn.—(V. 102, p. 608; V. 107,
p. 603.)
A BIRMINGHAM & 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 O. Van
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. 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.
Pres., W. M. Blount, Union
Springs, Ala.—(V. 94, p. 1316; V. 103, p. 1887, 2340.)
★ 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 8c 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.)
ABLOOMSBURG k SULLIVAN RR.—Owns Bloomsburg to Jamison C1 y.
Pa., 29 miles.
Stock Is $600,000; par, $50.
V. 66. p. 80, 952.
Year,
1915-16. gross, $90,222; net, $34,543; other Income, $435; charges, $30,141;
bal., sur., $4,836.
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¬
$12,500, being the interest
on the new outstanding bonds plus $30
annually to corporate trustee.
Under financial readjustment in Feb. 1918 the holders of the
$500,000
1st mtge. bonds of 1911 (coupon of Feb. 1916
unpaid) were offered in
exchange pro rata $250,000 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.
Trustees, the
Spitzqr Rorick Trust <fe Sav. Bank, Toledo. Ohio, and Lewis C. Nelson.
Pres., J. G. Drew; Sec. & Treas., E. H. Lycett, St. Louis, Mo.—(V. 95,
p. 968),
tenance expenses, taxes and an annual rental of
Albany, N. Y.,
total,394 m
m.;
1920-1932
do
A
•
F
J Jan
A
J Jan
1 1928
A
Q—M
A
A
J
A
M
A
J
A
Equitable Trust Co, N Y
F I T A> S D
Co, Phila
Reg Bloomsburgh.wh ear
A Aug I 1951
See text
Trustees' office, Toledo.
8c
8s
1952
do
do
1951
do
do
N May
J July
&
J
do
O Apr
J Jan
A
J
do
do
Union Tr Co, Pitts, Pa
Nov 1916 coupon
unpaid
Interest In default
1 1924
1 1957
1 1928
S Moh
do
do
do
'33-34-35
do
do
do
do
1937
J July
1938
O Oct
1963
D June 1 1942
do
do
do
do
do
do
DIVIDENDS.—Slnoe
1900. 8H%, vi*.: 2% each In March and Sept.
24% In Deo
Operating
Oper. Inc.
Other
Interest
Balance,
Year—
Revenues.
(after Taxes.)
Income.
Divs., Ac.
Sur. or Def.
1918
x$25,552,079
$2,913,922 x$516,910[x Reported by U.S. RR. Ad.
1917
22,562,282
4,729.140
269.822
$5,003,495
def.$4,533
1916
21,676,541
7,264,392
265.342
4.778,138
sur.2,751,595
1915
17,695,865
4,966,055
257,087
4,441,801
sur.781,342
★ BOSTON & LOWELL RR.—See Boston & Maine RR.
24%
In June and
Calendar
★ BOSTON & MAINE RR.—ROAD.—The system with Its
many branoh
lines oovers the territory from Boston. Mass.. to Portland.Me.
(two lines);
Springfield, Mass., Sherbrooke. Can., Rotterdam Jet. and Troy, N, Y.J
Woroester, Mass., to Portland, Me., and most of New Hampshire.
Mileage of Consolidated System.
Branch
Principal
For year ending Dec. 31 1917 (208 miles), gross, $12,372,619:
net, $2,807,-
★ BOSTON & ALBANY RR.—Owns Boston. Man,, to
199 miles; branches, 104m.; leased lines,90m.; track.0.6
do
do
do
D June 1923-'34
J July 1924-1933
M
&c
Bonds (not mortgage) guaranteed prln and Int
«c
Bonds (not M) $1,000,000 (V 7l,p 1218: V72,p44).z
Home Tr Oo, Hobok, N J
_
J
Ac
page
—
J
100
BIRMINGHAM & ATLANTIC RR.—See
o Apr
1925
s Moh 1921-1927
s Mch 1922-1931
6
100
other
S Moh
do
do
and New York
Merc Tr & Dep Co, Bait
5
1898
893;
J
do
5
1911
do
4
2.500.000
1898
1919.
do
Nat City Bank, N Y
Meroantlle Tr & Dep,Bait
Penn RR Co., Phila
See text
yearly
Payable
Safe Dep & Tr Co. Bait
Go's office, Indianapolis
a3.120,000
Second mortgage Income non-oum $200,000-.-FPx
Soon villa Bridge—See Missouri Kansas & Texas Ry
Boonville St L & South Ry—1st M g red 107 H ----Eq
Boston & Albany—Stock ($25,000,000 authorized)...
1920.
text
are
O SM 4 Tr Oo. NY:A SF
1.000
100
$1,877,056
def.237,375
1 1932
Where Interest and
Dividends
4
550,000
950,000
1,000
Net
Deo
1,000
1907
1 -Mar. 31
D
Places
Maturity
1916
1914
Jan:
&
770.000
1,000
Birmingham Terminal—1st M $3,000,000 gold guar x
Bloomsburg & Sullivan RR—1st M
FPx
EARNINGS—
Gross
J
and
1914
Euclid equlpt trust due $250,000 yrly beg 1924-.
Glrard Equip trust due $210,000 yly begin 1918
Birmingham Belt—See St Lou Is-San Francisco.
Birm'h & Southeas— 1st M $3,000,000 g red 107 H-Cex
General and eqt M gold red 101 $1,500,000
Col
LATEST
5 g
5 g
Last Dividena
J
245,000
&
J July 1 1941
2,000,000 See
text
See text
Q- J
6
500,000
Q—J
See text
4 g
M
1.000,000
A
N May 1 1939
J
300,000
5
A
J July 1 1945
50
*•
—
gold
xo*
Bolt Ry of Chattanooga—First mtge gold_.MeBa.xo*
Belvidere Delaware—Stock $4,000,000
Consolidated! guaranteed by United Co's sk fd __xr
mortgage
guaranteed by United Co's sk Id __xr
ol 1875
•Issue $600,000 reduced by sk fd „_xr
$4,000,000
guaranteed by United Co's sk fd.xc *
Bennettsville k Cheraw—1st M $150,000 g__MeBa
Bessemer k Lake Erie—Brie equipment trust
xx
Standard equip trust
xx
Bessemer equipment trust. 4ue $110,000 yearly.xx
Meadvllleeqtr due $55,000 yly begin. Mar. '22
xx
Albion eq tr due $75,000 yrly to 1932
xx
$515,000
17
Control.
Main Line.
525.72
Boston & Maine.
Main Line.
59.93
28.22
88.15
23.44
7.46
4.63
23.44
198.61
32.64
7.46
4.63
19.84
5.48
644.15
267.60
1,684.48
3,307.12
280.86
548.86
878.92
1,321.19
911.75
2,233.34
4,186.04
248.71
180.45
River
Manchester & Lawrence
Lowell & Andover
Kennebunk & K'bunkport.
Total
Total
Track.
25.52
Fitchburg
Concord & Montreal
Boston & Lowell
Connecticut
Total
Main Line.
187.57
147.57
159.63
85.63
consolidated.
—
Sub-leased lines
—
Total owned and leased
Trackage operated
_
1,040.33
713.29
1,375.08
396.28
845.75
340.08
535.74
111.15
293.98
25.11
.16
25.27
47.55
....
231.82
231.82
309.22
1,143.73
2,490.43
4,542.81
Controlled roads not leased.
Total system
1,346.30
Reorganization.—On Aug. 29 1916 the Boston & Maine RR. was placed
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¬
in temporary receivership on account of
zation and consolidation of the system on Dec. 1 1919. '
The reorganization plan, which became effective Dec. 1
1919, provided
follows:
as
(1)
Consolidation of the Boston & Maine RR. with its seven directly
leased lines and the assumption by the consolidated
company of all sub¬
leases 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 & Maine IiR.
(4) Exchange of stock of consolidating leased lines on which dividends
had been paid as rentals for like amounts of Boston & 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 5 years these dividends to be paid at 20% less than the normal rates.
(5) Preferred stock of the Boston & 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.
I
(6) The Common stock of the Boston & Maine is undisturbed, but is to
receive po
dividends for
tioned below.
In
case
a
period of 5
years, except under
conditions
men¬
of
liquidation all three classes of stock are to share
equally in assets after providing for obligations and accumulated dividends
the First Preferred and Preferred stocks.
on
(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 tho 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
of debt to the Government, restrictions in respect to Boston & Maine Pref.
and Common stocks shall lapse, but curtailment of dividends on the First
Preferred stocks shall continue.
The amounts earned for the stocks and not paid out on account of
on the Pref. stock and the omitting of dividends
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.
(9)
the reduction in dividend
on
Leased In 1900 for 99 years to the New York Central & Hudson
River RR.
the Common
Payments.—On Dec.
1
1919 announcement was made that the notes of
for guaraateed rental of 8%
the
expenses of
would be paid with accrued interest; the notes of the Vermont Valley RR.
purchased at par and accrued interest, and the overdue coupons of the Bos¬
ton
& Maine RR. and St. Johnsbury & Lake Champlain RR. paid.
per annum on the $25,000,000 stock, payable
quarterly (Moh. 31, 8$o.), organization expenses. Interest on bonds, taxes,
maintenance, Ao.
The B.
8o A. received for oertaln
not Included in the lease $5,500,000 In N.
property
Y. Central 3 4% 100-year deben¬
tures, thus adding .77% per annum to 8%
guaranteed onstook. See lease
in V. 69. p. 282: V. 69. p. 1061.1102. 1246: V.
70. p. 74: V. 71, p. 645. 963:
V. 107, p. 1918.
Lease assumed by N. Y. Central RR. Dec. 23 1914.
BONDS.—The $13,500,000 25-year 4%
Impt. bonds are guar. prln. and
Int., by New York Central & Hudson River RR.
No mortgagee can be
placed on the 1 property without jointly Including the bonds In the lien.
V. 86, D. 1099; V. 89. p. 102; V. 91, p. 396.
V. 94. p. 277.1055,1316. 1625.
Boston
&
Maine
RR.,
Connecticut
River RR. and
Fitchburg
RR.
V. 109, p. 2171.
STOCK.—First Pref., authorized, $50,817,900, of which
reserved to retire $12,000,000 of new bonds.
Issued,
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. 11920.
V.108,p.2l22.
CAPITAL
$12 000,000
is
$38!817,900.
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. 946. 1365. 1489. 1838; V. 97. p. 1838.
In June 1916 all bonds issued since the lease to the N. Y. O. A H• R
RR
Oo. had been guaranteed (prln. & Int.) by the lessee.
In Aug. 1917 sold
the company issued $17,606,060 5% bonds payable July 1 1920 and $2,273,000 6% bonds payable Jan. 1 1929.
The Govt, agrees, at the option of the
B. & M., to refund the 5% bonds due July 1 1920 by purchasing at 984
$1,000.000
on
guar.
25-year 5e for additions. Ac.
V. 105. p. 715.
BONDS.—In exchange for the $19,879,060 advanced by the Government
that date
a
like amount of 6% bonds payable Jan. 1
1929.
APrJvate
Contract.
RAILROAD
...
COMPANIES
notes on first
[For abbreviations, Ac., see
Maine—Com stock (dividends deferred)
stock, all same priority $50,817,900,
"A" (for Fitchburg preferred)
"B" (for B. & L. and L. & A. 8% stock)
"C" (for Concord & Montreal stock)
"D" (for Conn. Riv M & L and L & A 10% stock)
"E" (for K & K st.
See opt. V 107, p. 1918).—
"F" (If issued to retire bonds) $12,000,000
Old Pref stock (as 2d Pref) non-cuia (see text)
New First <fc Ref M (sec equally all issues of merged
(a) New bonds (to U 8 Govt) sub to call, sink fd
(b)
do
do
do
do
do
Bonds of Merged Properties Assumed—
Improvement bonds s t not mortgage or subj tooall.z
Bonds (not mortgage) for Improvement A ref.zoAr
Bonds (not mortgage) gold.
.. .
zoAr
Bonds exohanged tor Fitchburg stock (V 70. p 175) _z
Bonds (not mortgage), $1,000,000
z
Bonds $2,000,000 (not mortgage)
--.z
Bonds (not mortgage), 20-year _
z
Bonds (not mtge),
(not mortgage)
Amount
Rate
When
Value
Outstanding
%
Payable
100
100
do
do
do
Bonds
do
do
1894
1900
Bonds
do
1901
Bonds
do
Bonds
do
1900
500
&c
73
1877
Var.
1.000
147
1894
1.000
1892
1,000
1901
1,000
1903
_
1909
1913
1,000 Set
1 .oon
1890
'97-99
1,000
1,000
1.000
1,000
1.000
1,000
1906
.zc*
$473,000 3Hs; $200,000 5s
262
'09-14
_.z
zc
z
Connecticut River Bonds not mortgage
Bonds not mortgage
do
do
1893
1901
1903
z
—
all of the consolidated
secures
company's bonds
the
divi¬
Falls & Conway Rli., due
equally with the bonds given to the Government, and will cover all
property owned or hereafter acquired, subject only to the following
sional
mortgage
bonds: Portsmouth
Great
1937, $1,000,000; Worcester Nashua & Rochester RR., $1,265,000
($735,000 due Jan. 1 1930, $380,000 due Oct. 1 1934, $150,000 due Jan. 1
1935); Concord & Montreal RR., due June 1 1920, $5,500,000; Troy &
Boston RR., due July 1 1924, $573,000.
Bonds are to be issued in series.
The stockholders on Feb. 25 authorized the issue of $10,000,000 equip't
notes to provide for the purchase of 20 locomotives, 1,500 gondola cars and
500 box cars allocated to road by Director-Gen'l of RRs. during Fed. control.
The New York P. S. Commission has authorized the issue of $10,000,000
bonds in accordance with the reorganization plan under which the Railroad
Administration agrees to take over the entire issue.
Leased Lines.—-Leases assumed by the consolidated company are:
June 1
Stock
Div.
Slock
Mass__$3,193,000
6
New Boston RR
Con. & Portsmouth.
Troy & Bennington.
150,800
10
Nashua & Lowell
800,000
9
Suncook
Stony Brook
300,000
7
Pemigewasset Valley
Concord & Clarem t
4
6
Nashua & Acton
240,000
RR
Wilton
351.900
Northern RR——.3,068,400
Peterborough
RR__
.
Div.
Outstanding. Rale.
Outstanding. Rale.
Vermont &
Valley
$60,000
350,000
278,640
4
7
3
503,400.
6
400,000
0
0
0
0
...
Franklin & Tilton..
None
132,800
45,000
Peterb. & Hillsboro.
6
Newport & Richford 350,000
0
6
Earnings—Standard Rental.—It is estimated that the standard rental to
be paid by the Government during Federal control will be between $9,500,000 and $10,000,000, and that the fixed charges upon the reorganized
system will be only between $5,000,000 and $6,000,000.
Boston 4b Maine guarantees $1,328,000 first 5s of St. Johnsbury A Lake
Ghamplain.
Also Interest on $274,000 Manchester A Lawrence 4s.
Jointly
with Maine Central guarantees $300,000 Portland Union Ry. Station (now
Portland Terminal Co.) bonds.
V. 93. p. 940, 1323.
Conn. & Passumpsic 2,500,000
Massawippi Valley.
800,000
Director-General for rolling stock allocated
Equipment trusts issued to
to this company.
DIVS.—
*08. *09. *10. *11. *12.
Common (%)l 8
6 yly. 6%
7 yly. 6M
6
6
5
4
On Jan. 31 1920 paid a div. of $2 67 per share on the Pref.
payment since
1913. None
2
since
stock, the first
V. 110, p. 359. Mar. 10 1920, 2%.
March 1913.
'
Jan. 1 -Dec. 31
1919.
1919.
1918.
$17,464,724 $14,835,470 $72,583,879 $69,911,392
def2,087,712 def220,531
6,560,211
5,480,620
Jan. 1 -Mar. 31
EARNINGS.—
Gross
Net
Operating income
Lease of road
Other income
1920.
ending Dec. 31 1919:
1919.
1918.
1917.
1916.
$72,583,880 $72,141,625 $59,450,778 $55,383,544
66,023,668 66,404,110 47,164,940 38,251,715
2,394,161
2,325,505
2,160,438
2,094,857
Net
income
Rentals, sink, fund, &c.
Interest accrued
$4,166,051
9,400,527
def947,071
$8,453,456
1,367,626
4,428,307
$3,412,009 $10,125,398 $15,036,971
9,636,771
238,623
1,232,915
1,205,819
9,223,703
2,553,994
8,800,072
2,651,844
L.
after Jan.
dar 10
United
1 1929
do
Feb
1 1937
do
4
.
Treasury
States
Jan
do
do
do
do
Aug 1 1942
11944
July 1 1950
Jan
Nov 1 1921
4
Nov 1916 Interest unpaid
Jan
tt'
m
Feb
Jan
do
1917 interest unpaid
lnt due Sept
Sept 1 1926
April 1 1929
unpaid
lnt
1917
do
1 1923
2 1925
Jan
4H
1 '16 not pd
pd
lnt due Oct 1 '16 not
June 1 1937
i*
Jan
1 1930V35 Amer
4
Oct
11934
4
1 1932
1920-1921
•
May 1 1923^2
Sept 1 1925
Nov 1 1926
4
Feb
4H
5
M
4
J
do
do
do
do
do
do
do
do
do
do
do
1936
<fe
&
June 11920
Safe
&
June 1 1920
Boston S D & Tr,
&
June 11920
3H & 4 J
3H & 5 J
Dep & Tr Co, Bost
Boston
do
do
Ask
office
company's
4 g
>
do
do
11933
Mar 1
Boston
Go,
Merch. Nat. Bk. Boston
dc
do
July 1 1927
April 1 1929
a:;.-
Trust
do
Merob Nat Blr. Boston
Apr
3K
'
4
1,000,000
1,250,000
5,500,000
1,050,000
673,000
1.000,000
290,000
969,000
'20 2%
6
4
M
&
Sept 1 1943
3H
3X
J
&
Jan
1
1921
do
J
&
Jan
1 1923
do
do
do
mile.
V. 94, p. 982; V. 95, p. 1121.1402.
Fares, V. 106.
2122, 2344; V. 107, p. 180.
( '97-'05. '06. '07. '08-T0. *11.
1912 to Oct. 19194
81nce 1894
\ 2 yly.
4
5 6yly.
7H 6% yly. (1^%Q-J>
Point Shirley, 1
p.
DIVIDENDS.—
Net.
Gross.
$1,451,274
1,247,629
871, 1642.)
Year ending—
1919
Dec. 31
$42,405
130,150
31 1918
Dec.
—(V. 110, p.
Int.&Taz.
$83,594
81,348
Deficit.
Divs. Paid.
(6%)$51,000
(6%) 51,000
$92,189
2,198
★ BOSTON TERMINAL CO.—Owns Southern Union Depot In Boston,
opened in 1899. V. 68, p. 40; V. 69, p. 591.
N. Y. Central (Boston & A1
bany), Boston & Prov., Old Colony and N. Y. N. H. & Hartford RR. 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
foreclosure.
Reg. int. Q.-F.; coup., F. & A.—(V. 93, p. 1598.)
aboyne city gaylord
& alpena rr.—See page 135.
brazil ry.—(V. 107, p. 81,
290, 801, 2008; V. 110, p. 1186.)
brownsville & matamoras bridge
co.—See page 136.
★ buffalo creek rr.—Owns 6 miles of terminal road in Buffalo, n.y.
In Deo. 1889 leased for term of charter less one day to the Lehigh Valley and
the Erie RR., whloh together own entire oapltal stock of $250,000.
Rental
First Ref. bonds are 1sA.
A.
Brunn, Buffalo,
Albright, N. Y.
V. 108, p. 1610.)
—(V. 92, p. 259, 593; V. 93, p. 43;
★ buffalo rochester & pittsburgh railway.—(See Map.) —
bituminous coal regions.
Operates from Buffalo and Rooh., n. Y., to b
Lines owned in fee—
Buffalo
Creek,
N.
Y.,
to
Miles. Willow Grove to Pittsburgh, Pa.
Penn. RR.—Penn. RR. Jot. to
Mt.
98
Jewett, Pa
Bassett, Augusta, Me.; Charles W.
7
j
21
9
Shuman Run Y, Pa
59 Other
Leased—Stock not owned—
Rochester to Ashford, N.Y
94
Oharlotte. N. Y., to LInooln Park 10 Allegheny A Western—a
Punxsutawney to Butler, Pa.,
Indiana Branch
79
Ao
63
Six branches
28
Trackage—
Miles Clearfield A Mahoning—a
26
Clearfield to Beech Creek RR_.
Erie—Mt Jewett to Clarion Jot. 20
2
B.&O.—Butler, Pa.,to Pittsburgh 41 Mahoning Valley RR
Rlbold Jet. to New Castle
33
Total Dec. 31 1918 (a See separate statement for this company) __590
foreclosed, plan V. 41, p. 516.
capital stock ($4,000,000) of the Rochester & Pittsburgh Coal
ORG.—Successor 1887 of Roch. & Pittsb.,
The entire
(V. 66, p. 1088), carrying control of the Jefferson & Clearfield
Coal & Iron Co., was transferred in 1906 (subject to the lien of the General
Mtge ) to the Mahoning Investment Co. in consideration of $4,125,u00
of its Btock, which was then distributed pro rata among the holders of
Ry. common and pref. stocks.
V. 83, p. 1468; V. 85, p. 414, 415; report,
V. 109, p. 1459.
For bonds of these coal companies see "Industrial Cos.
Clearfield & Mahoning Ry. securities are guaranteed.
k Iron Co.
advances amounted to $3,448,800, of which
secured at 6%, and $208,800 at
advanced by U. S. RR. Adminis¬
The balance, $1,800,000 represents advances o
(cash) rental
To April 1 1919 Government
$1,648,800 represents loans ($1,000,000
6%, secured by deposit of $261,000 ctfs,
tration.)
Balance, sur .or def._sur.$2,657,523sur.$226,930def.$419,384sur.$4790874
OFFICERS.—James H. Hustis, President.
DIRECTORS.—Norman
&
Shows the m aximum dividend rate
1 1 924; till then scaled 80%
x
July 1 1920
350,000
19,875,394 $11,358,313 $16,242,790
7,095,120
2,553,344
unless bonds h eld by U. S. Gov. are pd
5
325,000
ANNUAL REPORT.—For year
Calendar Years—
Operating revenues
Operating expenses
Taxes, &c
&
Olarion Jot. to Llndsey, Pa
See article on page 3.
('93. '94-'98. '99. '00-'07.
&
4(6)
250,000
600.000
500,000
1907
1905
__z
___
M
J
J
J
S
1,000
1.000
I.OOO
1,000
1.000'
Montreal Cons M for $5,500,000. BB.zc*
Deben bonds curr $650,000 4s; $400,000 3Ms-zc*
mortgage
1.000Ac
(47
Cone &
new
1.000At
1909
do
The
1,000
z
do
do
1.000
zc
do
Bonds
1.000
1903
1905
1916
do
&
1,919,000
2,500,000
6,000.000
6,454,000
1,000,000
2,000.000
500,000
10.000,000
11.700.000
1,000,000
885.000
380,000
1,000,000
319,000
1.000
zc'
do
&
J
6
3,149,800
1,000
1.000 Ac
1,000
1887
1892
e
J
17.606,000
2.273,000
do
Bonds
&
None
100
z
_
__
&
4 (5%)x J
6.4 (8)x J
cos—
equally!
do
5 year
J
J
100
1930 and $150,000 1935)z/
Lowell—Bonds 40 yrs not mtge
Bonds
or
7,648,800
J
7,917,100 5.6 (7)x
4.327.000 8 (10)x J
65,000 3.6(4.5) x J
100
100
zc*
Con 1st M assum
Nashua A Rooh first mortgage
No divs f
Where Interest and
Dividends are Payable
and Maturity
as sets—
to
100 $18,860,000
secured ($735,000 due
Boston &
Bonds
as
;::t
zc&r
$12,000,000—
39,505,100
100
not pr eferred
zeAi
our
Portsm Gt Falls A
Worcester
Par
Bonds
Places
Dividend
Last
Date
Road
First Pref Cum
[Vol. 110.
Control.
Miles
pace]
Boston &
Bonds
BONDS
RAILWAY STOCKS AND
★Government
18
account.
Federal
Bos-
Compensation.—$3,276,410 yearly during Federal
control.
DIVS./'03.'04-'06.'07.'08.'09.'10 T1.*12.T3. T4.*15'16']7
% 1 5 H 6 y'ly 5H 4H 4
4
5
5H6
5.
4
5 6
worth, Springfield, Mass.; Frank P. Carpenter, Manchester, N. H.; Charles
Sumner Cook, Portland, Me.; Henry B. Day, Newton, Mass.; James L.
Doherty, Springfield, Mass.; Charles P. Hall, Newton, Mass.; James
Duncan Upham, Claremont, N. II.; J. H. Hustis, Winchester, Mass.;
Richard Billings, Woodstock, Vt.; B. A Kiniball, Concord, N. H.; Geo. von
L. Meyer, Hamilton, Mass.; J. P
O'Brien, Troy, N. Y.; W. M. Parker
Manchester, N. H.; Geo. R. Wallace, Fitchburg, Mass.; H. E. Warner,
Lincoln, Mass.—(V. 110, p. 77, 166, 359, 560, 871, 969.)
Oom
★ boston 5c providence rr.—Owns Boston. Mass., to Providence,
R. I., 43 miles; branches 20 miles.
Leased 99 years April 1 1888 to Old
Colony RR ; rental 10% yearly on stock, lease being modified In 1912.
V. 95, p. 235.
The New York N. H. A nartford on Dec, 31 1918 owned
$524,600 stock.
The company issued as of July 1 1918 $2,170,000 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
.18'19.'20.
4 text
.5
000 were Issuable at once, $18,145,000 to retire underlying
or before maturity and the remaining $13,855,000 for future
Issued under provisions of lease of 1888.
Interest pay¬
& Co., N. Y., National Shawmut Bank or
First National Bank, Boston.
(v. 108, p. 1274.)
_
1920,2%.
V. 107, p. 500, 603.
Mahoning Investment Co. (see above) paid on
In Feb.
Its stock In 1907, 2%; In
1908, 4%; 1912 and 1913, 3%; 1914, 2)4%; none since till 1917, 6%,
Mar. and June 1918, 3% each.
V. 88. p. 685; V. 94, p. 419; V. 99. p. 233.
Compare above and V. 107. p. 798.
V. 85. p. 283.
$5,573,000 reserved for prior bonds, Ac.
Int., $3,000,obligations at
requirements.
V. 84. p. 867. 1306; V. 85, p. 39. 414; V. 95. p. 361, 749: V. 98. p. 999,
1070, 1155, 1315: V. 99. p. 118, 1748; V/100, p. 228.
The N. Y. Stock
Exch. in April 1920 authorized the listing of $1,590,000 additional bonds,
with authority to add $2,453,000, making the total amount applied for
BONDS, AO.—General 5s for
The
$35,000,000 50-year Consols are to bear not over 4)4%
$17,210,000.
that the bonds are
able at office of J. P. Morgan
A boston railroad holding co.—Incorporated in Massachusetts
June 18 1909 under tpeolal Aot with power to hold securities of Boston A
Maine.
The N. Y. N. H. A Hartford owns $3,106,500 common stock,
and
as
guarantor has paid the pref.
divs. which the Co
could not meet.
$21,918,900 common ana $654,300 pret. stock of the Boston A Me.,
52.9% of stk., for which was Issued $27,293,900 non-voting 4% cum
oref. stock, redeemable at 110, guar., prln
A dlvs., by endorsement by the
$24,493,900.
V. 93. p. 870, 1401; V. 94. p. 205; V. 95, p. 968.
In March 1914. under order of court to divorce the system, the B. A M.
Owns
or
transferred to five trustees, viz.: George W. Anderson and
Doherty of Springfield, Mass.; Henry B. Day and Charles P.
Frank P. Carpenter of Manchester, N H., with orders to
sell the same on or before Feb. 1 1909, but U. S. Dist. Court extended
order to Oct. 1 1920.
V. 108, p. 2122.
As to receivership of B. & M. in
stock
was
James L.
Flail of Boston;
Aug. 1916, see tbatcompany.
pany's
rr.—Owns narrow-gauge road
oonneotlng with Boston by com¬
ferryboats; East Boston to Winthrop, 5 miles; also Wlnthrop to
purchasable, bonds may be drawn by lot. Series DAE may also be called
entirety at 105.
Series F may be purchased by sinking fund at not
par or drawn by lot at par and may also be drawn at 102 and Int. on
any int. day.
V. 84. p. 1365; V. 85. p. 283. 414, 863, V. 105, p. 2183
Series G have an annual 6% sink, fund to retire bonds at par; if 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,
not
as
an
over
2375.
Equipment trusts issued to Director-General for rolling stock
See article on page 3.
allocated
to this company.
V. 99, p. 47; (V. 108, p. 76.)
A boston revere beach & lynn
Lynn to East Boston, Mass., 9 miles,
irom
Equipment Bonds.—A sinking fund of 5% will retire series A, B & C
equipment bonds annually on May 1, if purchasable at or below par; other¬
wise to be applied to the purobase of additional equipment. V. 68, pi. 1131;
V.71. p.501; V.73, p. 348. Series D and E have an annual sinking fund of
0% for purchase of bonds Sept. 1 and Mar. 1, respectively, at 105 and Int.; If
—Jan.
LATEST
Gross
Net
«
EARNS.—
1 -Mar. 31
Jan.
1 -Dec.
31
1920.
1919.
1919.
1918.
-$4,100,277 $3,558,106 $13,955,591 $18,479,658
def.284,354def. 122,063 df. 1,073,134
902,450
MAT, 1920.]
RAILWAY STOCKS AND
BONDS
Bancroft,
GEO
K
G
I
Smiths)
Falls
Haliburton
!»
Sharbot L.
Eldorado
V
Central
/
Ontario Jc./
Coboconk
Sturgeon L.
/
Orillia
OwenS
Sound
Napanee/^H!!^
-Peterboro R>t
mm
CoHingwoodVRUNK^j^^
Lindsa;
Durham
Biackwliter
J22=Z
Orange V,
arrlson
B^kvilltf
Tweed-
;efield
^Har^f
Port
Trenton
;ownj
Hop^y.
■manyille:
^S^^itbyiJcj
0RON.ro"
*
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c^>
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Clifton1
JBrantford /
^^^v^aledonia
1
bA^r&pR}
A
\
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f Newark
^!
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/
7^-LDatavia
lin—
r\
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ROCHESTER
3liwiston'^^'Lockport
L'v>>« A§?®?oSit
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Hvisfew
UWa Falls
V^k/Tona wanda
\
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Canandaigw
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wpCen,
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Jamestown
Leaut Harbor
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BRADFORJD-
Lawrenceville
Union City
Smethport<X Ulysses
Warren*
Cambridge Sprs.
'owanda
Fall Brook
Kushequa/V
Meadville Jet.
Hickory
Hoytville
Meadville
r
Cross Fork
Ralston
<5/Greenville
:Shenango
my
78thill
gBROCKWAYVILLE ^
feiSt?-
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s^amta
b.r.&p.ry,
Sunbury
^Mahaffey
Shamokin
Irvona
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Lewistown
x,
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/
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Altoona
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Huntington
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\ PHILADELPHIA^
^SELIN^
A^Dtma^WV
^Harrisburg
*° X^Blairs ville
Salemville
'PITTSBURGH
^
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MAP
\ Xtatrobe
^Cochran
at
Washington
Wheehng
/Greeusburg
\
OF THE
BUFFALO,
-North Bessemer
/
/Bedford
/
ville
Culmerville/
(Morath
\
u.f>^
"^Weedsport\
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arnegie
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Hamilton
Woodstock
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Nort^^^k
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AND
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Athabasca
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pratj
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takemE
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Ft.Nelson °
South IndianJ
Lakem
XTay Later
Reindeer*
Crec Lake
Laki
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f
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kelson
House®
Ft.Grahama
ft.MeMurray
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Glasgow
;onners|Feny
tellingham
Mistoui
Colvillei
River
Shelby
itaples
Kalispell
andria
Snohomish
BISMARCK
Great
Falls
HAP
SHEAVING
THE
Tueoma-
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.YMPIA
CANADIAN
"Missoula
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»
North Yakima
.?
Bombard
Lines In
Huntley
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Butte
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Toluca
Operation
NATIONAL RAILWAYS
AND CONNECTIONS
(western section)
Lines under
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aramm
Construction
aHamamaa
Proposed
Lines aaaan«a*
*
22
RAILROAD COMPANIES
[For
abbreviations, &c.,
^Control.
RAILWAY STOCKS AND BONDS
Contract?
Road,
ffrst pageJ
Amount
Rate
When
Last Dividend
Outstanding
Par
Value
Date
Bonds
IMiles
^
see notes on
%
Payable
and Maturity
[Vol. 110.
Places Where Interest and
Dividends are Payable
Bo*ton & Maine—(Concluded.)
1887 I $1,000
1890 t.ooo &c
'97-98 1,000 &C
Fitchburg—Bonds to State of Massachusetts
zr
Bonds not mortgage
——zc&r
Bonds not mortgage ($2,750,000 are 4s of'97)zc&r
Bonds not'mtge ($1,775,000 are 3 Mb of '01)zo&r
Bonds not mortgage $2,000.000—
zc* &r
Bonds not mortgage $3,060,000 currency-_.zo&r
Bonds not mortgage $2,400.000
zo&r
Bonds $1,350,000 authorized currency
zo'&r
Bonds $450,000 authorized
z
Bonds
'00-01 7,000 &c
1907 A,000 &c
1905 1,000 &c
1908 1,000 &c
1912 1,000 &c
1913 1.000 &C
1914
1,000 &C
1874
1.000 &o
35
-z
Troy & Boston first mortgage (V 53. p 405)—zo&r
Bonds of Leased Lines (Stock see each co)—
Concord & Claremont (N H)—First mortgage—zc
Conn & Passumpsic First M $1,900,000 gold—zc*
Vermont & Massachusetts plain bonds guar...zo&r
Manchester & Lawrence
71
1914
110
1893
1903
1892
plain bonds (not mtge). _zc
3
Boston & Providence—Stock 10% guar 99 yrs Old Coi
Gold debentures......
..OByc
1,000
1,000
1,000 &c
1,000
loo
....
1,000
1,000
1.000 &c
1910
1,000
1911
1891
1,000
1,000
1910
1,000
c
1,847,195
671,715
360,000
Com. divs. (5%) 525,000
Rentals & other
630,000
income
Bal., surplus. $233,956
279,208
$78,105
1.316.00J
x Under the agreement with the Director-General only the Federal taxes
(est. this year at $150,000) are to be paid by the company.
REPORT.—Year ends Dec. 31.
Report for 1918 in V. 108, p. 1731
Years ending Dec. 31
June 30 Yf.
1917.
1918.
Passenger
Freight
Maif,
express,
$1,335,097
16,437,948
706,613
&c
$1,313,594
13,119,838
541,567
1916-17.
1916.
$1,214,352
11,036,335
511,068
$1,144,892
10,381,647
444,480
Total oper. revenues_$18,479,659 $14,975,000 $12,761,755 $11,971,019
Net, after taxes
$607,528
$2,590,075
$3,108,518
$3,072,101
Other income
807,240
1,316,001
1,125.274
1,016,099
—
.
<1o
do
do
*Ol
1927-1928
O Oct 1 1920-21
do
A
&
4
A
&
4
M
&
4*4
4H
M
&
do]
do]
do
O Apr 1
N May 1
do
1927 A
1925
N May 1 1928
«"do2
Office. FitchbfiRR,
i
do
do
J
&
J Jan
1 1932
J
&
J Jan
1 1933
do
J
&
J Jan
11934
dO V.:-:
do
J
i*
&
J July 1 1924
do
do
Ja
J
&
do
j
1 1944
5
J
4g
3K
A
&
OA pr
M
&
&)
J
10
1 1943
do
ir
&
J Jan
M
&
&
8 Sept 1 1931
J Jan 11941
J
&
J Jan
1917.
Coal and coke tonnage2,008,330
Total operating revenues'$l,785,856
no
Treasurer's office, Boston
See text
Office, or cheeks
Grand Rap, Mich, Tr Co
New York Trust Co.
U S Mort & Tr Co. N
do
do
1 1961
1916.
1915.
1914.
1,765,756
$1,532,863
$1,209,396
31,200
1.538,228
$1,446,196
$1,286,702
$128,294
193,053
140,143
57.152
$518,642
$1,411,022
Operating income
$262,488
X473.243
161,193
40,094
$402,537
49,501
$292,267
197,880
154,454
62,906
$937,018
$914,013
$707,507
Other
112,345
sec.
income
Gross income
7
1,970,978
$1,678,686
$1,244,945
31,204
Operating expenses
Taxes, &c
Hire of equipment
Income from funded
mailed
State St Trust Co. Boston
Merch National Bk. Bout
St Louis Union Trust Co
11930
J"
2g
5 g
do
Bos & Maine RR, Boston
Q—J
J
do
Met Trust Co, Boston
Safe Dep &Tr Co, Boston
N May 1 1923
J Jan 1 1922
1,000,000
•
100
EARNINGS.—For year 1918 under Govt, control. V. 108, p. 1610, 1731:
1918.
1917.
1918.
1917.
$319,061
1 1937
D June 11920
3K
300,000
90,000
1,000,000
100
Eq't,&c.,rent'ls.
Govt.compen.$3,276,410
Oper. revenue.
$14,975,000 Rent leas'd lines,
interest, &c_2,205,026
Oper.expenses.
52,281 11,878,566
rV»V
1
Xr
Appropriations.
29,355
incollectibles. xl50,000
506,359 Pref. divs. (6%) 360,000
N Feb
&
V
100
~97
&
Various
Apr 1 1920 2M
J
&
J July 1 1923
2,170.000
J
& J10 July10 1920 2%
27,293,900
850,000 6 In 1919
Q—J
Apr 1 '20 1H%
J & J15 July 15 1927 •
1,000.000
Text
Feb 11947- ...
14,500.0^0
J
&
J Jan 1 1937
5
800,000
1897
1897
1917
13.12
Gold bonds $100,000 guar Jointly..
N.x
Buffalo Cr—Gon (now lst)M$1.000.000 g lnt as rento'x
1st ref M.—Total auth. $5,000,000 g red 105-Usmx
Buffalo New York & EV »—Brie Railroad
9pppiiq
.
M
J
4
500,000
1,900,000
772,000
274,000
4.000,000
1918
Boston RR Holding Co—Pref stk 4% oum red 110-zgu
Boston Revere Beach & 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..
Brlfison Ry—See Savannah & Northwestern RR.
Brownsville & Matam Bridge Co—1st M gold guarSStx
4
4
$5,000,000
500,000
4,200,000
2,275,000
2.000,000
3,660,000
2,400,000
1,200,000
400,000
1.872.000
573,000
309,405
152,570
(1) Corporate income account based
on
31.200
tentative Federal compensation
(see "x" below):
1918.
Tenta. Fed. compensation_$592,628 Sinking fund
Other income
205,267 Pref. dividends (4%)
Interest
244,829 Common dividends (7%)—
Taxes ($52,000), rents, &c_ 224,312 Balance, surplus
1918.
$19,414
160,000
210,000
79,728
(2) Federal income account (see "x" below):
Railway oper. income
$2,249,666 Equipment rents
Cr.$193,369
Net from railway oper_.def, 17,929 Jomt facility rents, &c
Dr.34,224
Railway tax accruals
38,800 Net income
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 H. Dean, J. S. Farlee, Percy C. Madeira,
W. Hlnckle Smith, Julius F. Workum, Charlton Yarnall, Albert L. Smith
and J. Rutherford McAllister; F. E. Hall (Sec.-Treas.); Gen. Mgr., A. M.
Darlow; Aud., T. J. Elmer, 977 Ellicott Sq., Buffalo.—(V. 110, p. 1088,
1414, 2191..
__
Gross income...
*
$1,414,768
Rents accr. lease of rds.
See
Int. accr. on fund. debt. Corporate
$3,906,076
Income
Account
above.
$373,500
1,446,495
373,633
76,054
568,299
360,000
(6)630,000
$4,088,200
$373,500
1,412,177
361,309
127,394
521,000
360,000
(4)420,000
$78,105
Other int., rents, &c
New equipment
Retire't equip, bonds.,
Divs. on pref: (6%)
Divs. on common
$4,233,792
$373,500
1,388,057
374,795
179,391
679,000
360,000
(5)525,000
$354,047
$512,820
Balance, surplus....
In 1918 carried 10,776,022 tons of bituminous coal (out of 16,385,047
total tons of freight moved), against 10,215,591 in 1917.
OFFICERS.—Pres., Wm. T. Noonan, Rochester: V.-P., Adrian Iselln,
Brennan, Rochester; Treas., J. F.
Dinkey, Rochester; Sec. & Asst. Treas., Ernest Iselin, New York.
W. Emlen Roosevelt, N. Y., Thos. F.
Directors—Henry G. Barbey, A. Iselin William E. Iselin, J. Herbert
C. O'D. Iselin, W. T, Noonan, George E. Roosevelt, W. Emlen Roosevelt,
Ernest Iselin, O'Donnell Iselin, Oscar Grisch, Samuel Woolverton, Ham¬
ilton F.
1848
,
Office, 36 Wall St.—-(V. 110,
Kean, N. Y.
2191.)
p.
871, 969, 1288,
★ BUFFALO
&
SUSQUEHANNA
RAILROAD
CORPORATION.—
Owns from Sagamore. Pa., to Weilsville, N. Y.. with several branch lines,
Incl. 59 miles trackage.
Total mileage Dec, 311918,297.Incorp. In Penn¬
sylvania and succeeded Dec. 31 1913, per plan V. 98, p. 1503, tne B. & S.
BR., foreclosed Dec. 5 1913.
V. 97, n, 1582; V. 93, p. 1596.
For descrip¬
tion of
property see V. 108, p. 1828-'30; V. 100, p. 1007, 980.
at Driftwood Jet, with Pennsylvania RR. for Buffalo.
Connects
Compensation under Federal control, $592,628; contract had not been
executed up to Sept. 1 1919.
STOCK.—-Authorized (par $100). common, $3,000,000; 4% pref. (p. &
d.), cumulative after Jan. 11915, $4,000,000.
will be held in voting trust
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-*3 0
untD
DIVIDENDS—
1917.
1918.
1919.
1920.
On common stock-5
5 & 2 ext.
7
7
text
On Pref. stock in full to date.
On com. in 1920, Mar. 31, \%%.
1916.
BONDS.—The first M. bonds ($10,000,000 auth.) are secured on the en¬
tire property and further by deposits of mortgages aggregating
$1,079,116
on coal lands of the Powhatan Coal & Ooke Go., and of a second
mortgage
for
$1,300,000 on the properties of the Buffalo & Susqeuhanna Coal & Coke
Co.. and of all the stock of the Addison & Susquehanna RR. and all the
stock and bonds of the Weilsville Ooudersport & 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 Oct. 1 1919. $597,100 had been retired,
while $368,500 were held in treasury and $5,993,400 were outstanding,
V. 97, p. 1503; V. 98. p. 1765; V. 100, p. 980, i006; V. 108. p. 2329, 2210.
BUFFALO & SUSQUEHANNA COAL & COKE CO.—This company
the $1,300,000 2d M. 5% bonds of which are owned by the B. & S. RR.
Corp..
owns
coal
lands
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. $1,500,000. held by public.
POWHATAN COAL & COKE CO.—This company, all of whose bonds
owned by the B. & S. RR. Corp., owns ooal 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. all owned by RR. Oorp.
,
arc
-Jan.
EARNINGS.—
Gross
1920.
1-Mor. 31
1919.
Jan.
1919.
l-Dec.31
1918.
$681,043
$516,499
$2,157,830
$2,249,66
Net
def.22,379
def.72,670 def.416,586
def.17,928
REPORT.—For cal. years 1917 in full, V. 106, p 2004, 2030; V. 108.
p. 1828.
No reports for 1918 and 1919 have been issued.
See V. 110, p.
A BULL FROQ-GOLDFIELD RR.—Beatty, Nev., to Goidfield.Nev.,80
miles.
In June 1914 control was obtained by Las Vegas & Tonopah RR.,
duplicate lines being abandoned, but in 1918 that company went out or
business and this road has since been operated in connection with Tonopah
& Tidewater RR. and Death
Valley RR.
V. 99, p. 1536.
Year 1915-16,
gross, $142,516; net, $30,978; other income, $1,203; int., taxes, &c., $22,562;
bal., sur., $9,619.
Officers: J. Ross Clark, Pres.; O. O. Whlttemore, v.-P.;
O. P. Smith, Sec. & Treas., 523 Pacific Electric Bldg., Los Angeles, Cal.
It was announced in Dec. 1919 that the Clark interests, about 51%, had
been sold to W. Thouse & Legrande, Eastern interests.—(V. 107, p. 1385;
V. 109, p. 2355.)
"BURLINGTON."—See CHICAGO BURLINGTON & QUINCY RR.
ABUTTE
★ CAIRO
ANACONDA
&
THEBES
&
PACIFIC
RR.—Owns
RY.—See page 135.
Cairo.
111., to the bridge across the
Leased to St. L. I. M. & So. Ry.
(now Mo. Pac. RR.) for 99 years from Mar. 11911, 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. &N.
V. 95, p. 1121.
Columbia Trust
Co. of Louisville, Ky., trustee.
Stock, $10,000; par. $100.
Pres. A.
Robertson, St. Louis.—(V. 95, p. 1121.)
Mississippi River at Thebes, 111., 25 miles.
A CALGARY & EDMONTON RY.—See page 136.
A CALIFORNIA-WESTERN
RR.
&
ACAMBRIA & INDIANA RR.—See
NAV. CO.—See
page
page
136.
136.
★ CAMDEN & BURLINGTON COUNTY RY.—Owns from Pavonia.,
N. J., to Pemberton, N. J., 22.34 miles; branch, Burlington, hi. J., to Mt.
Holly, 7.12 m.; connection with P. Sc. 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.
{i. 65. Operateddue, $44,254; deductions, which guarantees 6% on stock,
1918, rental under lease by Penn. RR., $14,146; divs. (6%). $29,555;
n
surplus, $554.—(V.
101,
p.
40.
1092.)
ACANADA & GULF TERMINAL RY.—Owns Ste. Favie to Matane.
Que., 36 miles.
Stock authorized. $4,000,000: par $100.
Bonds, see
table.
Pres., M. J. O'Brien, Ottawa, Ont.; V.-Pres.. Hugh Doheny,
Montreal, Que.; Sec.-Treas., E. M. Hoctor, Montreal, Que.
CANADA
MICH.
& CHICAGO.—Bonds worthless.—(V. 63, p. 838.
CANADA SOUTHERN
RY.—(See Maps New
York Central Lines.)—
ROAD.—Main line from Suspension Bridge station, including the Cantilever
Bridge, to Windsor. Ont., 226 m.; branches to Oourtright, Ont., &c., and
controlled lines, 154 m.; total, 380 m.; Oanada So. Bridge, 2H m.
Track¬
age. St. Thomas to London. Ont., 15 m.
Double track. 242 miles.
ORGANIZATION, ETC.—The oompany was chartered m
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. 1191. 1247.
The Mich. Cent, guarantees, prin. 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.
CANADIAN NATIONAL RAILWAYS.—(See map.)
The Dominion Parliament has authorized the
incorporation of the Cana¬
National Railways to take over the Government owned railways.
The system will comprise 22,275 miles, extending from Halifax on the
Atlantic Coast, to Vancouver oh the Pacific Coast, touching practically
dian
important centre in Canada.
The Government now owns the Cana¬
dian Northern, National Transcontinental, and Intercolonial railways, and
the system Is to include the Grand Trunk Railway and Grand Trunk
Pacific Railway.
every
The entire capital stock is owned by the Canadian Government.
In
May 1920 Wm. A. Read Sc Co., New York, offered $15,000,000 7% equip¬
ment trust gold certificates, dated May, 1920, and due May 1 1935.
★Government
May, 1920.
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
109
Rochester A Pittsburgh Con M g
lin.zo*
($10,000,000) gold.Un.zo*
234
1882
B R & P First Gen mtge
253
Un.zo*
B R APOonsol mtge $35,000,000 gold__Ce.i.o*&r
Equipment bonds C.gold s t
(ix
do
E $2,000,000 gold red 105 sink fun
dx
do
F $3,000,000 gold red sinking fund
x
do
G $3,000,000 gold Sinking fund
Gxc*
do
H gold J125,000 due yly text
G.xc*
do
J gold (no "I") $50 000 due s.a__ Gk.yc^
10
1,000
1.000
1881
& P
Rochester to Salamanca.Un.zo*
1st M gold
Lino P & Cbarl 1st M gold guar
1907
1913
1918
M g s
&
M
&
S Sept 1
J
de
J Jan
<5o
D Deo
&
do
do
do
do
do
do
zo
do
do
do
A
J
&
J Jan'21 to Jan*30
do
do
5 g
6 g
A
&
O Oct'20 to Oct'33
do
do
See text
do
do
Aug'20toAug'33
1 % By trustee's check on NY
Q—M 31 Mar 31'20
See text
J
F
A
A
3.000.000
4.000.000
5.993.400
4 g
J
75.000
68,000
6 g
J
A
J Jan
6 g
J
A
J July 15 1921
3.000.000
5g
F
A
1,699.000
i
MAS Mch
1.000
1914
ook Isl and
do
do
A
1,000
1906
do
30
4 g
5 g
100
100
do
do
1 1929
O Oct
York
do
do
-
1 1957
1921
1 1922 .;1\
1 1927
N
Payable
New
St,
do
1937
1 1939
100 Ac
Ea.x
fd call 102H-FP
8uriingtoa Cedar Rapids & Northern—See Chicago R
Burlington & Missouri Valley—See Chicago Burllngto
Butte A & P— 1st M g gu sk fd cad 105
yc*&r*
Cairo & 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 & Indiana RR—1st Mg red 102 H GPxc*&r
Coll trust gold notes
Camden & Burlington County—Stock 6% guaranteed
First M g gu p & i by Un N J RR & Can Co.GP.xo*
Canada Atlantic—See Grand Trunk Ry
Canada & Gulf Terminal Ry—1st M $740,000 gold
Canada Southern—Stock
Cons guar gold bonds (1st M on main line) G.zc*&r*
Leamington & St Clair 1st M g gu p & 1 (end)._zo*
Canadian Nat Rys—S F equip tr ctf (text)GPxxxc*
AD29 Dec 30 '19. 2%
&
J Dec 30 1963
do
do
E. B. Smith A Co..
Fidelity Trust C
1 1922
N.
Paolflc R
0 ulnoy.
1914
140
1,000
1,000
A
Guaranty
1 1944
Feb
1
1911
52
1914
704,000
A
26
1911
1,000
751.000
1919
1,000
800,000
501.250
350,000
MAN May 1 1936
F
A
A Aug 1 1921
"39
25
1,000
1897
36
1910
1.000
380
1912
14
1K95
1,000 &c
1,000
100
A
J
F
740,000
15.000,000
22,500,000
I8
5 g
A
A
J
A
F
A
A
A
J July 1920
A Feb 1 1927
Co,
N
Y
Anglo-Cal Tr Co, San Fr
1 1934
O Oct
Tr
See text
1961
25
30
Y
Phila
.
do
do
&
a
Gfrard
Trust
Girard
Trust
Phila
Phil
Co,
Co,
3% Broad St Station, Phila
do
do
Royal Tr Co, Montreal
J Dec 31 1930
A Feb 2 1920 1H Grand Cent Term, N Y
do
do
O Oct 1 1962
Agts Bk of Montreal. N Y
1 1945
A
O Oct
Girard Trust Co, Phila
M A
N May 1 1935
7 g
1,000 15,000,000
nadian Government.
$100 100,000.500 All owne d or to be owned by the Ca
1920
Northern—Stock $125,000,000 —
Canadian
J
Wall
do
1 1921
1 1922
May
44
44 g MAN May
44 K MAN May
A
Apr
44 8 A
887,000
1,731,000
1,250,000
1.350,000
1,080,000
1,000
1,000
Feb
36
Feb 16 1920 3
g M
804,000
576.000
1.000
F
5 g
14,757,000
1.000
1917
Buff & Susq RR Corp—Common stock v t c
Preferred stock 4% cumulative V". T. C._
First mortgage $10,000,000 gold
Bull Frog & Goldfield—1st
2d mortgage gold
•
Dividends are
Feb 16 1920 2
6 g
6 g
5 g
1.300.000
3.920,000
4,427.000
350.000
1,000
1909
Cekc*
K $40,000 due s-a
do
368
1887
1,000
1,000
1889
1907
1.000 &0
'99-01
1,000
1.000
1904
F
Where Interest and
Places
Dividend
and Maturity
F
$100 $10,500,000 4 In 1919
100
6,000.000 6 In 1919
Buffalo Rochester & Pittsburgh—Common stock._Tr
Pre! stock non-cum common 6% then pro rata_.Tr
R
Last
Date
Road
page]
23
Control.
Miles
RAILROAD COMPANIES
[For abbreviations, Ac., see notes on first
APrivate
RAILWAY STOCKS AND BONDS
Contract.
*
130.000
g
A
Funded debt, see following page.
Semi-annual payments of
$500,000 each beginning Nov. 1 1920 mus
if obtainable.
be used by the trustee to purchase certificates at or under par,
At the end of each six months any unexpended balance must be
used at the
Canadian Govern¬
certificates or
obligations due before the maturity date of the certificates.
Cer¬
may be purchased at a premium and tendered by the railway
company to the trustee, under the foregoing provisions.—(V. 108,
p.
2432; Y. 109, p. 172; V. 110, p. 1414, 1642, 1748, 2191.
direction of the railway to purchase either
ment
tificates
NORTHERN
RAILWAY
SYSTEM.—The Canadian
System, with a maximum grade of practically
H
1918 had In operation 9,566 miles of road extending
from Quebec, Montreal and Toronto to Vancouver. British Columbia, with
many branches and intersectlngflines in the provinces of Quebec, Ontario,
Manitoba, Saskatchewan and Alberta, V.105,p.1207,1103; V.107, p.1286.
CANADIAN
Northern
Railway
of 1%. on Dec.31
Mileage, Dec. 31
1918.
2,687.0 miles
2,989.9 "
711.3 "
1,792.2 "
Central Division—West of Port Arthur
of Port Arthur
Edmonton
Ontario Division—East of Port Arthur
Quebec Division
Western Division—West
Pacific Division—West of
786.3
•
Minnesota
"
374.6
172.6 '
61.6 "
9,566.5 miles
Lines in Nova Scotia.
Division
Electric lines in Ontario
Total
1918.
Bonds.
1st mtge. deb. 44s
Acquired Securities as of Dec. 31
Capital Stock.
Minn. A Ont. Bridge Co
$100,000
Minn. A Man. RR. Co
400,000
Lake Superior Term. Co., Ltd.
500,000
Can. North. Telegraph Co
500,000
Winnipeg Land Co., Ltd
100,000
St. Bonirhce West. Land Co__
250,000
General mortgage 5s
Mortgage 5s
General mortgage 5s
First mortgage 5s
First mortgage 5s
2,000,000
2,000,000
300,000
750,000
Edmonton A Slave Lake Ry._
First mortgage 5s
420,000
Can.Nor.Ry.Express Co.,Ltd. 1,000,000
Can. Nor. Steamships, Ltd
2,000,000
Can. Nor. System Term., Ltd. 2,000,000
Bay of Quinte Ry. Co., pref__
465,000
Common
930,000
Central Ontario Ry., pref
291,000
Common
3,038,000
Irondale BancroftAOttawaRy.
53,000
Marmora Ry. A Mining Co__
100,000
First mortgage 4s
3,000,000
1st M. 5% deb. stock 2,920,000
5% deb. stk. A bds.
7,000,000
First mortgage 5s
450,000
Ont. B. AN. bonds
100,000
201,000
Su'AppelleL.L. AS.RR.AS
lag. St. Cath. A Tor. Ry____
922,000
Niagara St. Cath. A Tor. Nav.
Co., Ltd
$180,000
250,000
200,000
First mortgage
8uebec A Lake St. John Ry__ 4,034,700
North. Pacific Ry. Co_.25,000,000
3,000,000
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 A Pac. Ry. Co. 3,060,000
Mt. Royal Tunnel A Terminal
Co., Ltd
5,000,000
Nor. Cons. Holding Co., Ltd. 4,446,700
(Owns 5,064,600 stock of Can. North. Quebec
Can. North. Quebec Ry. Co.. 2,080,000
Halifax A South West. Ry. Co.
925,000
Bessemer A Barry's Bay Ry._
125,000
—--
.
;
-
Ry. Co.)
—
Order-in-Oouncil was passed transferring the manage¬
operation of all the other Government railways, in Canada
board of directors which had been appointed to manage the Canadian
In Nov. 1918 an
to the
and
Ry.
Northern
system.
In June 1919 the
Canadian National Ry. was incorporated at the Instance
which owns its entire capital stock, to operate
of the Canadian Government,
title to the physical
property of the Canadian Northern Ry. Co. and its subsidiaries was still
vested in the several original companies, and they were directly liable for
their 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¬
all the Government-owned lines.
On June 30 1919 the
arranged to provide for such interest for the current fiscal year.
of affiliated cos. not owned Sept. 30 1917, $5,947,100.
V. 106, p. 2223.
Canadian Niagara Bridge Co. and Toronto Niagara A
Western Ry. (wholly controlled), in V. 106, p. 1901, 2010; V. 107, p. 2183.
The Mt. Royal tunnel into Montreal was opened for traffic Oct. 21
1918.
V. 107. p. 1384.
ment had
Total capita] stock
LOANS.—In 1914 the Canadian Gov
and took over an addi¬
capital stock over the $7,000,000 previously ac¬
balance of the $100,000,000 was acquired.
The
DOMINION CONTROL AND
ernment
guaranteed $45,000,000 of 4% debentures
tional $33,000,000 of the
quired.
In
1918
the
total capital stock is now $100,000,500 of which
the hands of public.
V. 106, p. 2344; V. 107, p.
V. 98, p. 1600, 1607, 1918
$500 is outstanding in
1191; V. 108, p. 1822;
\
Canadian Parliament, the Government,
$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 syBtem.
V. 106, p. 1796, 2223.
Also in 1918 voted to grant:
"A loan not exceeding $25,000,000, repayable on demand with interest,
payable half-yearly, at the rate of 6%, to De used to meet expenditures made
of Indebtedness incurred in paying int. on securities or paying maturing loans
In
1917,
advanced
under
to
Act
of the
the roads of the system
of the Canadian Northern Ry. Co. or any company
Increased lo
for Income Charge Stock.
STOCK.—Of the $125,000,000 cap. stock as
1914, $25,000,000 was Issuable only in exchange
V. 100, p. 393; V. 105, p. 996.
DEBT.—The $45,00(L000 debenture
stock was guaranteed In 1914,
prin¬
cipal and Int., by the Dominion Govt, under plan outlined in V. 98, p.
1600, 1607, 1918.
In June 1917 $44,866,667 of this issue had been disposed
of as follows: Sold in i914 and 1915, $17,033,333 (£3,500.000); pledged
with Dominion Govt, against advance of $10,000,600 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.
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. 70,
p. 1247; V. li. p. 87; V. 80. p. 996; V. 81, p. 1609: V. 80. p. 1099: V. 87. p.
36; Y. 89. p. 1279; V. 90. p. 770. 1424. 1489; V. 93, p. 406; V. 94. p. 1695;
V. 98, p. 1601.
(5) 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 Alberta, see V. 89, p. 40; V. 88, p. 761, 1497, 1019; V. 91,
p. 1322; V. 94, p. 1316; V. 97, p. 1582; V. 98, p. 761.
(e) Canadian North¬
ern Western Ry. 1st M. 4H%, guar. prin. A Int., by Province of Alberta.
V. 93, p. 1724; V. 97, p. 1583; V. 98, p. 610, 838, 1155; V. 108, p. 479.
(e) 1st M. consol. deb. 4s of 1904, V. 78, p. 1274; V. 79, p. 2794; V. 80,
(j)~Winnipeg Terminal 4s, V. 89,
p. 116; V. 81, p. 1607; V. 82, p. 568.
'
~
ee also caption'of the leading subsidiaries below.
p. 665,1480.
INCOME CHARGE
STOCK.—The 5% Income Charge Conv.
Deb. stk.
after May 6 1920 and Is con¬
into full-paid common shares,
$500 (or £102 17s.) of deb. stock for $500 capital stock, on 30 days' notice.
The Interest is payable May 2 and Nov. 2 only to the extent that the net
earnings are sufficient after paying fixed charges.
Interest paid in full to
Nov. 1914.
No payments in 1915 to Apr. 1920
V. 108, p. 1822.
LAND GRANT.—Land sales year 1916-17, 17,654 acres for $314,720,
leaving 841,000 acres unsold June 30 1917. V. 107, p. 2183. V. 105, p. 817,
1207,1304; V. 85, p. 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 were
prepared to purchase at 90% 4% First Mtge. Land Grant bonds or 1909,
due July 1 1938.
V. 107, p. 2187.
„
■
limited to $25,000,000. Is red. at any time
vertible until Jan. 1 1922, at holders' option,
V. 100, p. 393; V. 97, p. 1424.
having purchased the bulk of the capital
stock, funds were provided to take up notes which fell due in 1918 and 1919.
V. 105, p. 2271; V. 106, p. 188, 2010, 2223, 2336, 2344, 2559, 2755; V. 108,
5% Land Mortgage
debentures.
p.
2122.
Short Term Loans
Amount.
Made by or Through—
Series A London 5% loan of 1918, guar., p. A i.,
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. A i., by Canadian Govt.
Authorized
£1,650.000, £100, Ac., call 101; int. F. A 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
Feb.
1 1922(Collateral Trust gold 6% notes of 1919, secured] 5,000,000
Feb.
1 1924 by pledge of $14,286,000 Canadian Northern Ry.) 4,500,000
((guar.) Gen. Mtge. 4s of 1934. V. 109, p. 370, 4761
Dec.
1 1922/5K%
notes of 1919 guar, by Dominion of\ 6,000,000
Dec.
1 1924\
Canada.
Callable at 101 (V. 110, p. 1288)/ 6,000,000
Aug. 12 1921
Can. North. Western Ry.
ment
CAPITAL
Canadian Northern
and the purchase of eaulpundertakings of the system.
V. 98. p. 1600;
Maturity.
an.
Can. North. Alberta Ry. Co__
deficit in operation of the
Ry. System and for construction, betterments
by mtge. upon the
Compare V. 106, p. 2559. 2344. 2336, 2223.
NOTES.—The Canadian Govt,
-
-
Northern Ry. System, to meet
ment; said loan to be secured
included In the Canadian
Imperial Rolling Stock Equipment Trusts Series Gold ($500 and $1,000 each)—
Interest Semi-Annual—All 4 Hs Except Series
II-1" and "Lr 1" 5s.
Install. Due.
Ser. Date.
Outst'd'a. Install. Due. Ser. Date. Outst'd'a.
F-1.1913 $1,480,000 $210,000 MAS
V—.1910
$300,000 $300,000 Nov.
G-1.1913
385,000
55.000 MAS
£-1-1911
556,000 184.000 MAS H-1.1913
350,000
40.000 JAD
B-l 1911
300,500
75.000
1,055,000
105,000 AAO
D-1.1912
825,000
165,000 AAO K-1.1914
F&A
630,000
B-l -1912
105,000 MAS
Lr 1-1916
66.000 FAA
920,000
Rolling Stock Gold $1,000 6% Certfs. (Pep xxx) Guar. C.
Series "A" 1918
(Int. J. A J.)
due July 1 annually, 1920,
$750,000; 1921-26 incl., $450,000 each and July 1 1927
1928, $400,000 each (V. 107, p. 81)
Series B, 1919 (int. J. A J.), due $375,000 J. A J, July 1
to
Jan. 1 1929 incl. (V. 108, p. 377)
Series C, 1919 (int. M. A N.f, due $375,000 M. A N., Nov.
to 1929, incl. (V. 108. p. 2021)
Series D, 1919 (int. J. A D.), due $375,000 J. A D., June 1
to Dec. 1 1929 incl. (V. 110, p. 166)
-
Can. No.
N. Ry.
and
1920
.$4,250,000
11919
1920
7,125,000
7,500,000
7,500,000
Government purchase of rolling stock.
Y. 107, p. 81; V. 109, p. 172.
GUARANTY.—For first 3 years after road is opened from Vancouver to
Quebec the Govt, agreed, at the request of the company, to advance ail or
any portion of the int. on the $45,000,000 4% deb. Issue auth. in 1914 (see
above) and not to enforce the re-payment or same until the principal ma¬
tures
provided the company pays 4% int. on any sum so advanced
Similar provisions were made respecting the
bonds on the Canadian Northern Ontario Ry,
Montreal and Port Arthur, but for 2 years only.
V. 105, p. 1304.
in 1934,
(V. 98. p. 1608, 1601.)
Dominion guaranty of the
between
LEASED
Co,
1936 (callable at 105 A int.).
V. 103, p. 146. 323
COMMISSIONS.—(V. 10*. p. 1700).—V 104 p. 1800.
PROPERTY.—Canadian Northern Coal A Ore Dock
1st M. sinking fund gold 5s, due Jan. 1
$1,750,000 outstanding in July 1916.
See
REPORT OF
1754, 2235: V. 105. p.
1207.
REPORT.—Year ending Dec. 31
f
1919. V. 110, p. 2192.
MAP
OF
THE
CANADIAN PACIFIC RAILWAY
The Minneapolis. St. Paul 8c Sault Ste. Marie Ry.
The Duluth. South Shore 8c Atlantic
AND
(EASTERN
Railway^
CONNECTIONS
SECTION)
w
>
5
>
k;
c/2
H
O
o
W
en
>
W
o
a
en
<!
o
f
Bums
Ln^e
Granville
T Jtland L.
IClear L.
Sandy L,
Waskaiowaka
H
Is on
ioerick 10.
Assean L.
Nelson L.
<£5
poreui
Sissipuk
ro
o
Dors L.
Beat
Montreal
V
L,
Athapupictkow
Cormorant L.
Cumberland L.
Molson L.
ffAfoosa Lake
Rossville
Island Lake
•prince
Albert V
Cedar L.
Hudson Bar,
LAKH
w
^
\PJEQ0SI3
p>
.Lalpsio
hH
urban
\
Martin
IV
AkMils,
^sS,a"p/iiSi
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?
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hi0
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H
Orarfli,
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o
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03
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I
W +-c
?e Wooete
^w?5^^SEggi|isJ**SU^ g/y•
vg T.HMOUTOtLE;'
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o
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[AKOti.
Velva
B.tfour
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O
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w
j&Iahnomou
Waghbui
Raldi
ipringfleld
OARB^U^V-
'Lombard
\v°?
Ko«e^orsjth
.
"SSton
MAP
OF
JWatei
Arvada
<
tWhitewood
J/*lda*b
The Duluth. South Shore & Atlantic Railway
Headwood^"
PIERR
Wolsej
?Bl*ckroo{
CONNECTIONS
•ipestone
Chamberlai
SECTION)
Q,
\ Analera
[Scran to j
'IONAL
■jiac&fcy
The Minneapolis, St. Paul. & Sault Ste. Marie Ry,
(WESTERN
\
.
■°^srojv£
THE
CANADIAN PACIFIC RAILWAY
AND
y^\
I
Ipetrolt /
,3*,
^
K)
Ol
APrlvate
RAILWAY STOCKS AND BONDS
^Contract.
26
NORTHERN RY. SYSTEM JUNE 50 1919.
OF CANADIAN
DEBT
FUNDED
indicated by maturity except as follows: a M. 31 & 8. 30; b
(Interest Is payable semi-ann. on dates
Date of
Held by
Public.
Amount of
Maturity.
Security—
Total Issue.
$
(1) Guaranteed by Dom'n Govt.r
Amount
Pledged.
9,359,997
7,890,588
44,860,667
1960
1962
May
April
&M% 1st M. deb. stock
3H% lstM. deb. stock
89,359,997
7,890.688
17,060,333
3,149,999
JulylO 1953
3H% 1st M. deb. stk. 1908—July20 1958
4% 1st M. deb. stk. 1914
Sept. 1 1934
Canadian Northern Alberta Ry.—
4% Perp. Cons. Deb.
b3,149,999
Pledged.
I
stk.1903
Perpetual
bonds.April 1939
1930
1930
300,000
1931
349,000
£349,000
Perpetual
12,658,910
9,083,628
6% 1st M. bonds 1909.
Bay of Quinte Ry.—
Jan. 11934
903,253
903,253
5% 1st M. bonds, 1902
71.696,914
32,943,334
Jan. 2 1927
780,000
6,435,127
e5,250,369
3,505,750
3,505,750
6,724,015
1,135,982
4% Perpet. Cons. Deb. stock.
Great Northern Ry. of Canada—
7,859,998
7,859,998
..Oct. 11934
Quebec A Lake St. John Ry.—
4% Perpet. lstM.deb.stk.1912
Perpetual
4% 1st M. bonds 1904
4% 1st M. deb. stock
June30 1930
4% 1st M. Wpg. Term, bonds June30 1930
4% Ontario Div. 1st M. 1901-June30 1930
1930
h4,359,015
127,799
8,221,907
7,011,324
1,210,683
2,000,000
2,000,000
Sept.30 '42
Niagara St. Cath. A Toronto Ry.—
5% 1st M. bonds 1899
—.Nov. 1 1929
5% 2d M. bonds 1910
Nov. 1 1929
Mt. Royal Tunnel A Term. Co., Ltd.—
5% 1st M. rent charge stock—Apr.15 1970
Qu'Appelle L. L. A S. Ry. A C. B. Co.—
4% 1st M. deb. stock 1906—.July 1 1936
5,663,667
1930
4,447,000
1,210,667
1,504,000
636,600
1,098,000
406,000
11,430,033
2,238,667
9,191,367
5,019,540
5,019,540
4% 1st M. deb. stock
1,460,000
Halifax A South Western Ry.—
164,980
164,980
160,680
3H% 1st M. bonds
160.680
24,041,866
25,662,645
Total
1,620,680
(4) Guaranteed by Saskatchewan Govt.—
Canadian Northern Ry.—
b8,030,000
13,709,400
4% 1st M. deb. stock 1909-.Jan.23 1939
5,679,400
Canadian Northern Sask. Ry.—
Dee.
4,486,814
1909—.June 11939
Duluth Rainy Lake A Winn. Ry.—
5% 1st M. bonds 1906
Jan. 1 1910
Pacific Ry.—
Duluth Winnipeg A
12,436,280 *12,430,280
4,319,999
2,859,999
3,000,000
3,000,000
5,680,607
6,680,607
4% Cons. deb. bonds 1904—June30 1930
1,174,813
1,174,813
1943
184,758
ext'd 1921)
(3) Guaranteed by Manitoba Govt.—
4^% 1st M. deb. stock
3,575,282
780,000
Perpetual
6,724,016
1,135,982
Total
June
393,900
Canadian Northern Ontario Ry.—
Canadian Northern Ry.—
% 1st M. deb. stock
669,000
669,000
Canadian Northern Quebec Ry.—
June30 1938
.JulylO 1936
4H% Ont. Div. 1st M. 1901.June30
Canadian Nor. Manitoba Ry.—
880,000
880,000
Central Ontario Ry.—
nadlan Northern Ontario Ry.—
JM% 1st M. deb. stock
3H% 1st M. deb. stock
$
01,837,789 e44,943,019 yl0,894,77C
693,900
1,540,003
(2) Guaranteed by Province of Ontario—
4 H
Amoun
Public.
4M % 1st M. Gunflint Br. bds.June
4H% 1st M.Pr. Albert bds—June
Minnesota A Man. Ry. 4%.—Sept.
4% Perpet. Cons.Deb.Btk. *09
35,770,000 c34,229,997
..——104,613,248
Total Dominion..
Held by
%
3,569*997
3,669,996
1961
May
M. deb. stock
Amount of
Total Issue.
4% 1st M. Pas Mission
27,833,334
Canadian Northern Ontario Ry.—
3 H % 1st
Date of
Maturity.
.
Security—
Canadian Northern Ryw—
Canadian Northern Ry.—
3% 1st M. deb. stk. 1903
(Subsequent changes chiefly note issues—see text).
J. A D.; c J. 4 J. 20; d M. A N.; e J. & D. 30; 2A.A 0.;h J. A J.
(7) Unguaranteed Securities—
$
$
[Vol. 110
Control.
14,884,213
8,030,000
9,726,364
b5,586,660
4,139,699
4^% lstM.deb.stk.1912-T3.Feb.16 1942
6,424,000
2,799,998
b6,424,000
d2,799,998
18,950,302
14,810,063
20,999,998
8,614,000
6,543,528
4,999,999
16,412,001
4,587,990
Total
40,157,524
25,026,001
15,131,523
107,514,642
79,768,528
27,746,115
300,09
1945
300,000
11938
1923
1,675,593
1,675,593
17,033,333
7,300,000
9",733*333
unguaranteed.....................147,584,117 102,234,159
45,319,958
.—.Sept.
5% 1st M. bonds
4,139,699
4H% lBt M. term'l stk. 1913.April2 1950
4)4% 1st M. branch lines stk.April 2 1950
4)4% 2d charge deb. stock—April 2 1950
James Bay A Eastern Ry.—
6,854,213
4% 1st M. deb. stock 1909—Feb.25 1939
Canadian Northern Western Ry.—
636,500
Total
Land
(5) Guaranteed by Alberta Govt.—
Canadian Northern Ry.—
4H% 1st M. deb. stk. 1911—Oct.22 1943
4% (1909)L'd grant bds. (text) July
5% Land mtge. debs. 1913—.June 1
.
Total
Total
Securities—
Canadian Northern Ry.—
(6) Guaranteed by Brit. Col. Govt.—
Canadian Northern Pacific Ry.—
Total guaranteed and
4% 1st M. deb. stock 1909—April 2 1950
-
Grand total Provincial
...359,712,007 253,729,601 106,009,407
unguaranteed
Short-term note issues (see
text)
33,673,333
....
8,614,000
5*.543",528
4,999.999
30 1917—
287,402,934
Income charge 5% convertible deb. stock
25,000,000 25,000,000
Imperial rolling stock equip, trusts (text)
See text
Canadian Nor. Coal A Ore Dock Co.—
5% 1st M. callable at 105
Jan. 1 1936
2,000,000
1,750,000
Total fund, debt as per bal. sh. June
—
........
........
(?)
reserved to retire the following underlying Issues, viz.; Sifton Branch 4s of 1899, due Feb. 1 1929, $1,137,340: Manitoba A Southeastern
y In June 1918 $4,125,604 of this was In treasury.
4s of 1899, due Feb. 1 1929, $512,460: Gilbert Plains Branch 4s, of 1900, due Nov. 1 1930, $2,433.
x
Includes
11,652,233
1919.
1918.
1917.
.$55,353,930 $49,062,713 $41,470,022
def5,700,648
3,400,437
7,443,369
1
6,875,4661
Not
)19,969,710
4,301,208f
reported
Years ending Dec. 31—
Gross operating revenue
Net earnings
Fixed charges of C. N. Ry
Fixed charges of affiliated cos
Int. on demand & short-term
6,721,574]
loans__J
DIRECTORS under Canadian Government ownership: D. B. Hanna,
Pres.: A. J. Mitchell, V.-Pres. in charge of finance and accounts, and E. R.
Wood, all of Toronto; Major Graham A. Bell, Ottawa, Ont.; Robert HobHamilton, Ont.; F. P. Jones and Sir H. Laporte, Montreal; R. T. Riley,
Winnipeg; C. M. Hamilton, McTahgart, Sask.: Col. Thos. Cantley, New
Glasgow, N. S.; A. P. Barnhill, St. John, N. B.
Secretary is R. P. Ormsby: A&sts. to President, R. O. Vaughan and A.J.
Hills, all of Toronto, Ont.—(V. 109, p. 172,370,476,774,887; V. 110,p.653)
son,
1288, 2192.)
NORTHERN ONTARIO RY.—Owns: Montreal to Port
Arthur, 1,010.94 miles; Toronto to Capreol, 276.43 miles; Toronto to
Ottawa. 250.25 miles; total, 1.537.62 miles.
Y. 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
CANADIAN
PACIFIC RY.—Yellowhead Pass to Van¬
NORTHERN
about 500 m.; also 15 m., Victoria Co.,
a 150-mile line to the
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 betweenNew Westminster and Vancouver, B.C., 12.67miles. V. 105, p. 1207;
V. 93, P. 1461; V. 94. p. 1565; V. 91. p. 37, $3; 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.)
couver
and
Pacific
tidewater,
Patricia Bay (in operation).
Also under construction
east coast of
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.
Ry. owned $2,080,000 of the company's stock and also 71.9% stock in
Northern Consol. Holding Co., Ltd., which owns $5,064,600 of C. N. Que.
Ry. stock; total so controlled, $7,144,600, or 74.7%.
V. 95, p. 1471;
V. 96, p. 201; 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-continental
railway from Montreal to the Pacific Ocean, made up as followsDec 31 1919
Montreal
to Vancouver.
-2,895 Operated account of
Branches and auxiliaries...
Leased lines
Used Jointly.
384
owners
-5,461 Lines under construction
234
Also controlled but oper. sep.—
-4.939
94 aMlnn. St. P. A Sault Ste. M_.4,228
._
aDuluth South Shore A Atlantic
The balance sheet of Dec.
ture
31 1919 still showed $216,284,882
13,389 Steamships, see V. 108, p. 1280.
HISTORY, ETC.—Incorporated Feb. 17 1881 under charter from Do¬
receiving $25,000,000 In cash as a subsidy; also 25,000,000 acres of land, all to be fit for settlement.
minion of Canada,
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.
Kaslo
& SJocan Ry. lease and bonds, see V. 107, p. 2097.
STOCK.—The Issue of preferred must never exceed one-half the common.
COMMON
RR. earnings
DIVS—
since
Land sales, int.,
BONDS,
1*03.
1902}
Ac—_J
DEBENTURE
*04-'06. *07-'09. *10. *11. '12 to July
6 yrly.
6>4 7
1 yrly.
STOCK,
6 yrly.
1
1920.
7 yrly 12)4%
quar.
2)4 3 yrly/
GUARANTEED
BONDS,
&c.—
List of securities owned Dec. 31 1919, V. 110, p. 1535.
Late in 1916 $40,000,000 4% Consolidated debenture stock over and
above the $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% per annum, over the interest
payable on the stock.
Provision is made in the agreement for the sale to
and interest ol $20,000,000
4% bonds issued by the Dul. So. Sh. Sc Atl.; also 4% int. on Consolidated
bonds of the Minn. St. P. & S. Ste. M., and in 1899 interest on the 2d M.
4s of the latter.
Owns Dul. So. Sh. & Atl. consols, $15,107,000, etc.
..
8t. Lawrence A Ottawa bonds are endorsed with 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 accept Int. at 4% (Instead of 6%) 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 999-year lease of 1890.
debenture stock Is guaranteed Interest at
V. 76, p. 435; V. 77, p. 636,
The Calgary A Edmonton Ry.
4% under new lease of
1903.
A Pontypool Ry. bonds are Issued under a 99lease covering the Interest.
V. 77. p. 1225; V. 79, p. 2085.
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.
The Lindsay Bobcaygeon
year
The First & Ref. M.
Kettle Valley Ry.—See V. 108, p. 1721, 1282.
Victoria Rolling 8tock & Realty4 H% 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
same amount for the construction of new mileage to be authorized by
the
Parliament.
the
In March 1920
sold $12,000,000 6% equipment trust ctfs.
V. 110, p.1288.
INVESTMENT
FUND
NOTE
CERTIFICATES.—On
Dec. 8 1913 a trust fund was created known as "The Special Investment
Funds", made up of deferred payments on land sales and securities in which
the cash proceeds of land sales are Invested, to the aggregate of $55,000,000;
Royal Trust Co. 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.
V. 97, p. 1732, 1897; V. 99,
p. 544: V. 103, p. 937.
Compare V. 106. p. 1242. 1243.
Lands.—Lands unsold Dec. 31 1919 were 155,542 acres in Manitoba
SPECIAL
(book value $1,555,420), 1,358,349 acres in Saskatchewan (book value
$17,658,537), 2,539 850 acres in Alberta (book value $42,426,427), 1,069,822
acres in British Columbia (book value $5,263,616), &c.
Total of all lands
owned Dec. 31 1919, 5,804,852 acres (book value $95,211,438).
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.
Ry. & Irrigation Co., see V. 92, p. 955: V. 93, p. 593; V. 94, p.
Quebec Central Ry., see V. 93, p. 667, 1106; V. 94,
1625; V. 96, p. 361, 715.
Alberta
1316; V. 95, p. 617.
p.
Jan. 1 -Mar. 31
1920.
EARNINGS.—
$43,187,609
3,257,580
Gross.
Net
The 5 mile tunnel through the Selkirk Mts. was put in use In Dec. 1916
ConsolT deben¬
stock, Including $40,000,000 loaned to Imperial Govt, and $176,284,-
626
aSee each company's statement.
Total In traffio returns
this stock in annual installments, should the com¬
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.
pany
882 in hands of public.
V. 108, p. 1280.
In June 1890 company guaranteed the principal
def$25,670,358def14,497,810
Balance
the British Treasury of
1919.
$36,466,677
4,073.672
REPORT.—Fiscal year now ends Dec. 31.
Annual meeting is held at
on the first Wednesday in May.
Report for year 1919 in V.
Montreal
110, p.
1522, 1534.
Year ending—
Miles
operated
(1) Revenues—
Passenger...
Freight.
Mail, express, &c
Total earnings
Net
earnings.
charges
Pension fund
Fixed
Dec. 31 *19. Dec. 31 '18. Dec. 31 '17. June 30 '16.
13,772
13,772
13,388
12,994
$
$
$
$
46,182,151
30,837,254
30,238,986
24,960.652
111,064,442 110,187,288 103,635,795
89,654,405
19,682,467
16,513,156
18,514,554
15,136,828
.176,929,060 157,537,698 152,389,335 129,481,885
32,933,036
34,502,388
46,546,018
49,225,920
10,161,510
10,177,513
10,229,143
10,306,196
500,000
special income acct
Com.divs.7%p.a. (with
3% p. a. from special
income—below)
18,200,000
Pref. divs. (4% p. a.)—
3,227,276
To
Balance, surplus
844,250
500,000
500,000
193,977
1,968,683
125,000
1.923,289
18,200,000
3,227,276
18,200,000
3,227,277
18,200,000
3,227,277
2,203,662
12,420,916
15,444,159
RAILWAY STOCKS AND BONDS
Mat, 1920.
\
Palnesville
i
Andover/
Ireenville
LEVELA
unftwood
lapoleoj
Sandusky
Deshler
FostorIZ
Green wi<
Clearfield.
Alliance
Mansfiel
'Lima
;w
Lisbon
Freeport
Kentoi
6anal Dpvei
Killbudk
Mt.Vei
Indiana^
ITtSBl^RG
/
"\s Bessemer
Johnsto1
cKeesporl
^
ijNew
Comerstown
Wash
/Union
v^Newarl
\Lynn\
Urbana.
Connelltrvilj
Dunnings
Moiradsvule
Uniontown
Powhattan,
aytonx
'Rich mom
deville.
[artinsburg,
'ashing toi
Fairmont
Hamiltom
Chillicothej
®>^3reenfleld
Grafton
Farkersburg
Clarksburg
P^meroy
Waverly
irdinia
Raven s wood
I I
,
\s
Palestine
PortBmouUryT^-V
'Elkins
[G®Mays
Spencer
c
'Horton
Xrontoi
vTrJI
Pickens
mtingtoi
Johnson/Jc.
RLESTON
Greendale
Morekead
Richwood
Webbville
'Charlottesville
Ronceverte
Clifton
Fdx-ge
Hinton
Richmond
1 Eagle Mtn.
^N^Springfleli
»'
7 Junction!
I
City
\
NaturaJ^Brid
mchburg
New Castle
Livingstoi
Burkeville.
Roanoke
Radford
Keysville
Corbin
Rocky Mount
, ,
Martinsville
Chatham
S.Boston.
ffillsville.
'Jellico
Clarksville
-yDanville
Stuart
[orlina
Cumberland Gap
Henderson
RurrflhaiiY
sod*
Unaka Sprii
F^ankliivttm/ Louisburg
^ ^
Winston*
-
'j
Clintoj
Salem,
Greensboro
Taylorsville
Knoxville
Harriman
1ALEIGH
Sta'tesvflli
^'Ashboro
Pikevllle
A«heville\
J/Moncure
\
disbury
Nt
Sanford
Athens
\
,
ildsboro
^XmarjoIV
Charlotte
.beideem
Norwood
VTayettevllle
Monroe
y^HopbvMills
[amlet
SPARTANBUR
Greenvillejiwwa—■
£/Blueridge
y Park ton \
don
\
Rockhill,
Pembroke
Chera1
Chester
Cornelia
■Anderson
\
lBenne*bJsville
lurens
Jiinton
Camden
Gainesville
L.
WILMINGTON
Torence
Greenwood
COLUMBIA
Soutliportc
Ih ens
KcCormlck
Dongola
AT LA NT-
Lanes
Georgetown
Jovington
hLANT1C
.Branchvilltf
Keysvill-
Griffij
Greenville
Dennu
OCEAN
[illedgeville
/v"
Tennille
[Wadley
Millen
Macon
map
Opelikl
Empire
ichland
lerieus
the
CAROLINA,
Dublin
Colnmbui
of
Vidaliayy
~
CLINCHFIELD
L
"
aih
AND
/Collins1
SAVANNA.
OHIO
RAILWAY '
★GoverrnmeLt
28
For abbreviations, Ac., see notes on
Canadian
Canadian
Canadian
Date
Par
Amount
Rate
When
Last
Dividend
Road
first page]
Bonds
Value
Outstanding
%
Payable
and
Maturity
Northern Ontario] See Canadian
Northern Pacific)
Northern Ry.
Northern QuebecJ
above
Canadiau Pacific—Stock $335,000,000 authorized
Preferred stock limited to 4% non-oumuiatlve
First mortgage on Algoraa Br g
Oonsol perpetual debenture stock
—
—
ISO
.o'A'
...
Note Certificates special Investment fund red par..
Vic Roll StkARealtyOo eq tr serT*470,000saPeP.c*
1888
1889
1914
£100
215
34-
St Lawrence & Ottawa—first mortgage gold see text
Ontario A Quebec stock guaranteed In perpetuity
58
Ontario A Quebec deben Interest guar In perpetuity
191
New
Brunswick So 1st M
J
(6) 4
6
J
J
A
D
£4,007,381
D Irredeemable
£50 Ac
do
do
do
do
ZO\
Othfir
777rfiitip
®
2,805,764
9,049,341
7,800,000
8,128,751
7,800,000
......
Balance
...
Total special income....
1,249,341
15,413,842
3
J
A
J Jan
4 2
4
J 3
A
J 2002
4 2
J
5
J
4
F
3)4
J
A
J15
5
J
A
Jlo Jan
See
1917
1,000
1913
1914
ct
10,713,300
7,800,000
2,913,300
13,835,751
p.
3,583,292
6,357,663
9,940,955
7,800,000
2,140.955
8,407,099
DIRECTORS.—Richard B. Angus, Sir Herbert S. Holt, Chas. R. Hos"
Hon Fred. L. Beique, K.C., Lord Shaughnessy, K.C.V.O., Brig.-Gen
mer,
Frank S. Meighen. John K. L. Ross. Edw. W. Beatty, Sir Vincent Meredith
and Grant Hall, Montreal, Can.; Hon William J. Shaughnessy, Victoria,
B. C.; Sir Edmund B. Osier and Sir John C. Eaton, Toronto; Sir Thomas
Skinner, London, Eng.; Sir A. M. Nanton, Winnipeg.—(V. 110, p. 1288,
1522, 1534.)
ACAROLINA CLINCHFIELD A OHIO RY .—(See Map.)—Owns fron
Elkhorn City. Ky.. to Spartanburg. S. O.. 277 m.; branch, Kiser. Va., tc
Laurel Jet., Va., 6 m.; 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 CUnchfield Coal Corporation.
See V. 101, p. 2070; V. 102. p. 611; V. 94. p. 1448; V. 97.
p. 1661; V. 98, p. 1692; V. 100. p. 900: V. 104. p. 75, 365.
Connects at
Bostic, N. O., with Seaboard Air Line Ry., with which close relations are
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,
1980.
359.
and
Dividends
were extended at 6%
1920.
The extension agreement allows the company to in¬
the outstanding amount from $2,000,000 to $5,000,000
(the original
issue) at any time such increase should be found desirable.
This total
issue of notes has the right of conversion into
pref. stock $ for $.
V. 109,
Int. till July 1
crease
5%
79; V. 89, p. 285.
The $6,000,000 Elkhorn Extension 5-yr. 1st mtge.
notes were sold to refund $5,500,000 maturing notes (issued to
construct Dante to
Elkhorn) and for other purposes.
No additional mort¬
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
gage
2% cash bonus.
I'
P-
JPHvV' 106.P. 22!9; V. 110,
p.
77.
Car trusts 0*1917, V. 104,
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. O., to
Eskota, 24 m.; in 1918 built 2.30 miles in Nor. Caro.) gave $475,000
promissory notes dated May 15 1917, reissuable from time to time with
¥te,r than fan- 1 1920.
the entire $50,000 capital stock was also obtained.
An option to purchase
V. 106, p. 2219.
"STANDARD RETURN," Ac.—See
page 5.
•loo^nleP071^^' 8teued in Feb. 1920, fixed
annual compensation at
'
The company refused the six months extension of the guaranty.
The guaranteed securities (see
V.103,p.l588) included $1,500,000 Holston
Corporation notes (callable at par and convertible $ for $ into Car. CI. & O.
*
pref. stock.—See stock above.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article
on page
REPORT.—Year ended Dec. 31
reported
compensation.
year
as
by
company
on
3.
1917,
see
company
V.
106, p. 2219.
For cal
basis disregarding Federal
—Years end. Dec. 31—
1918.
1917.
Coal carried, tons
2,966,917
2,547,222
Total operating revenue—$5,022,077
$4,285,390
—Years end. June 30—
1916.
1915.
$1,019,598
101,158
$1,608,203
623,721
1,962,315
$3,101,444
$1,405,356
409.822
1,550,249
$2,260,776
$904,200
232,573
$1,120,756
-$1,107,268
$2,231,924
$1,122,861
152,984
56,284
$1,815,178
$1,067,986
123,967
62,986
$1,136,773
$785,000
142,671
Net after taxes
Hire of equipment, Ac
Total income
Int. on funded debt
Int. on equipment trustMisc. interest and rents
Balance,
sur. or
124,729
123,319
61,296
def—def .$234,560 sur.$899,794 sur.$560,239 sur.$147,806
Estimated Earnings for 1919 and 1920.—V. 110, p. 77.
Pres., and J. J. Campion, V.-Pres., 24 Broad St., N. Y.
I. McQuilkin, Johnson City, Tenn., V.-P.; John W. Saunders, Treas.—
(V. 110, p. 764, 969, 1289,2075.)
gauge
road,
502.
The
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,
$1,500,000 were used to retire ail underlying bonds and $1,000,000 were
applicable
July 15 1920 2)4
A
A
jan
1
1963
1 1963
1 1929
Aug
N July 1
1961
N
Y and
Bankers
Augusta, Me
Co, N Y
Trust
A
J
&
J
A
F
A
1 1933
J Jan
Wash (D C) LoanATr Co
do
D June 1 1938
J
A Jan
1 1922
do
do
do
July 1 It 20
Blair
A
Co, New
York
See text
Blair &" Co"," New York
F
A
5 g
5 g
J
A
A
A
o Oct
5 g
J
A
5
A
A
do
do
J July '20-Jan '27
n Oct
20-Apr. '27 Commercial Tr Co, PMla
5?
sr
A
Aug 20-Aug '22
J July '20-July '20
do
do
do
20-Ocf 24
do
Pres., W. A. Barber; Treas., F. S. Wynn, N. Y.—(V. 105,
500,1099.)
p.
605; V. 107,
A 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.
Coupons due June 1 1917 remain unpaid.
On June 8 1917 W. N.
of N. Y., who had financed the enterprise and then owned
some $250,000 bonds and $1,800,000 stock, made an assignment to Arthur
D. Hammond of Brooklyn.
Bondholders' committee: Alvin W. Krech, Chairman; Samuel Armstrong.
Sec.; Equitable Trust Co., depositary.
Reorg. proposed. It Is hoped
without foreclosure.
V. 104, p. 2451; V. 105, p. 2542.
*
Stock authorized, common. $3,000,000; pref., 5% non-cum., $1,000,000;
outstanding, common, $1,540,000, and pref , $300,000; par $100
Loans
Coler A Co.
and bills
payable, Dec
31 1916. $191,976
EARNINGS.—For year ending Dec. 31 1916, gross, $107,869; net, $24,031; other Income, $157; rentals, taxes, Ac.. $25,037; int. on bonds, $63,790:
bai., def.. $64,639. Pres., Alvin W. Krech, N. Y.; Sec. & Treas.. L. H.
Hole Jr.
Office. High Point N. O.
N. Y. office, 43 Cedar St.. N. Y.—
(V. 104. P. 2451; V. 105. p. 2542.)
★ CATASAUQUA & FOGELSVILLE RR.—Catasauqua, Pa., to Rlttennouse Gap. Pa., 19.67 m., and branches, 31.76 miles.
Stock. $426,900 (par
$25); $254,300 is owned by Reading Co.
Divs. paid in 1904-05, 7%; irf
1905-06, 8%; in 1906-O7J 8%; 1908-09, 8%; 1909-10, 10%; 1910-11, 10«~
1911-12,
1916-17
taxes,
—(V. 81,
149.)
p.
kiU to Paienvllle, N. Y., 15.75 miles; from Otis Jet. to Otis Summit (cable
road). 1.08 miles; from Otis Summit to Tannersville, 5.25 miles, gauge 3 ft.
P.
Tiie $2,000,000 1st M 5% notes, due July 1 1919,
i
■
Guaranty Trust Co, N Y
Can Pao Office, London
Can Pac Office, Montreal
Bk of Montreal, Toronto
ETC .—Firs t mtge. of 1908, V. 86, p. 667, 856; V, 88, p. 944.
v °°, P* 558' v- 95.
None since to Nov. 1919.
In Nov. 1919 the amount of pref.
listed on N. Y. Stock Exchange was $9,973,900.
B OND S,
dO
on pref., 3% semi-annually March 1913 to Sept. 1914,
s',&;x!?£exp?rt' &c-
.JTOOK.-Anthorized. $50,000,000. of which $25,000,000 Is 6% pref.
stock
2002
London
London
★ CATAWISSA RR.—Owns from Tamanend, Pa., to Newberry Jet., Pa.,
104.05 miles; second track, 40.07 miles; total. 222.20 miles.
Re-leased
Deo. 1 1896 for 999 years to Philadelphia A Reading Railway.
Rental,
Int. on bonds, 5% dlvs. on pref. stock, all taxes and $8,000 for org. exp.
See also V. 63, p. 969, 1116.
In Nov. 1917 paid the dividend of 2 )4%
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 2 )4 % on the preferred
stock was paid less 12 cents per share for war income tax.
In May 1919
paid 2)4 % on the preferred stock less 13 cents per share for war income tax.
in Nov. 1919 and May 1920 paid 2 )4 % less 10 cents per share for war income
tax.
Of the pref. stocks, $1,000,000 is 2d pref.
Common, $1,159,500;
par, $50.
Reading Co. owns $732,800 common.—(V. 96, p. 1421.)
$25,000,000 pom.; 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.
1955
J July 1
6
588 000
June 30'1C-
A
J
25.000
1.000
1017
A
62
117.000
532.000
1917
A
1 1933
and
•nto
26 2882
mpaules
oo
250.000
1,000
1.000
1,000
L912
J
J15
6 2
450,000
J July
A Aug 1 1934
J Irredeemable
A
5 g
5 2
13.950.000
2.000.000
6.000.000
1917
A
A
M
4)4
those
195.000
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.
inclusive.
455.832
text
—See sta tements of
J
4)4 g F
$250,000
500 Ac
1,000
3,724,729
6,988,580
328,751
14,164,501
A
1.000
C*
.Total
Dividends (3% p. a,)...
J
131.89
®
2,214,869
6,913,882
6,243,577
,
A
1909
Dec. 31417.
Earnings Ocean SS
&c_
Int., dlvs., Ac., rcc'd.—
A
F
1902
1908
\
N
Ser "F" due $38 000 s-a
.Nx
Ser "G" due $42,000 «-a not, call CP^
Dec. 31 '18.
A
J
6 g
4
256
8er "E" due $13.000s-a
Dec. 31 *19.
J
4 2
256
Mortgage gold notes $5,000,000 red par ext.Ea.xo*
Elkhorn 1stM g notes (Call at par) ext. (text).Nyc
Promissory notes for Black Mt Ry securities
Eq gold notes 3er"C"(V.88,p.451)due $50,000»-aNx
do
do
Ser"D"( V 97,p49)due$25.000s-a_Nx
do
1911
Jantlc
Carolina Central—Bonds—See Seaboard Atr Line Ry
Caro Ciinchf & Ohio—Lick Crk & L E 1st M gassu..x
1st M $15,000,000 red 110
F.xo*
do
5
£719,000
$1,000
l.ooo
Baring Bros A Co. Lond
Pao office, London
July 1920 3%
£600,000
£904.533
$500,000
£1,121,700
*1,040.000
500,000
£694.850
604.837
338.000
336,500
£!
1903
32
11937
J Jan
A D15 See text
£100
1890
1905
e
A
July'20-July *28
Janl'20-Aprr32 Guaranty Trust Co, N Y
£100
1909
Minn St P A Sault Ste Marie and Dulutb South Shor
D June 1 1934
5 g
£200,000
$2,000,000
£100 Ac
£1
3f
o
A
5z
1883
1884
1890
"h:>
Calgary A Edmonton deb stock gold Interest as rctr
Branch line bonds $1,040,000 (owned by CanPaci
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 prin and Int guaranteed
Aroos Val (El) RR 1st M g red 105 Int guar
First A Ref M $1.700.000 call 105 Int guar.Ba.xc*
&
J
6g
$2,544,000
£1.330,000
*81
...
A
Irredeemable
$1,000
-
174
J
M
4)4 g J
*100
Perpetual oonsol debenture stock. Interest guar.
J
s Mar 2 1924
6
7,990.000
12,000,000
67-
Toronto Grey A Bruce 1st M gold Interest as rental
New Brunswlok Ry 1st M gold Int from rental..
1884
1887
1876
A
&
J
52.000.000
*1 000
1,000
A 1
1920
Equip tr cert $500,000 s-a Oct '20 to Apr '32
Securities of Principal Leased, Ac., Lines.
See text
A
4
$20. Ac
£
101ft
Manitoba S W Col Ry $12,000 per mile Int guar gold
Atlantic A Northwest—1st mortgage gold gu._o'Ai
Dividends are Payable
June 30 19202)4
Q—J
$100 $260000300 10 In '19
A
A
O Apr 1 1920 2%
4
80.681.92"
$100
A
J July 1 1937
J
5 g
Ac
3.650,000
r
.
[Vol. 110.
Control.
Miles
COMPANIES
R 4ILROA D
APrlrate
RAILWAY STOCKS AND BONDS
Contract.
to
extensions,
Ac.
Year 1915-16. gross,
$461,626; net, $123,701; other income, $248; interest, taxes, Ac., $167,707;
bal., def., $-13,844.
Year 1917, gross, $471,228;net, after taxes,$135,466.
new
equipment,
ACATSKILL MOUNTAIN RR. CORP.—Narrow gauge road from Cats-
In April 1919 operation had been discontinued.
★ CAYUGA A SUSQUEHANNA RR.—Owns from Susquehanna River to
Ithaca, N. Y., 34 m.
Leased during length of charter and renewals thereof
to the Delaware
are
Lack. A Western at
a
rental of *54,600 a year.
9% yly., with an occasional extra: 1904
9)4%
was
Dlvs. paid
paid. V. 106, p. 497.
CENTRAL
ARGENTINE
RY.,
LTD.—ROAD—Extends
from
Buenos 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 or track (all except 202 miles is owned in fee; and partly double-tracked).
Increase in rates 22%, from Nov. 20 1917.
V. 105, p. 1998.
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, pavable 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 Capitaliiation (at $4 86 to £) June 30 1919.
Cent.Deb.3)4 % stk. (150m)
£92,75015-year 6% notes (new)—
£500,000
%
4H% West. Ann.(202 m.) 2,017.500 4)4% *>on-cum. pref. stk. £9,695.718
2,017.60014)4
4% Deb. stk. (gen'l chg.)-13,455,077IConsol. 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 receiv ed 5%.
Offered In March 1917.
V. 104. p. 256,1044, 1144; V. 105. p. 1998.
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 tc Co.; in London at London County & Westminster Bank at
$4 85 per £1 sterling.
The entire issue, but no part, may be redeemed
at 102 and int. on and after Feb. 1 1922 upon six months
notice.
They are convertible at option of holder any time after Jan. 31 1918
prior to redemption into ordinary shares of £10 each, at par, $4 85 per £1.
EARNINGS.—For fiscal year ending Jnne 30 1919.
1918-19.
1917-18.
1916-17.
June 30 Years—
Grow earnings
£6,925,798
£1,330,586
836,724
436,000
—(2%)564,047
Net income
Interest, Ac
Pref. stock (4)4%)
Ordinary
stock
Balance,
sur.
or
£6,184,089
£1,860,996
833,044
436,000
(2)564,047
.
£5,246,000
1915-16.
£5,737,000
£1,882,000
£2,260,000
1,078,000
800,000
436,000
436,000
(1)282,000 (4)1,128.000
def—sur. £49,746 sur.£27,905 sur.£86,000def.£104,000
Chairman. Sir Joseph W. Todd, Bart.—(V.,105, p. 2542.)
★ CENTRAL
OF QEORQIA
Lines owned in fee—
Savannah to Atlanta
RY.—Operated Jan.
Miles.
.....
Gordon to Covington
Columbus to Birmingham, A a.
Columbus to Americus..
......
295
82
156
62
Montgomery to Eufauia, Ala..
Columbus to Greenville, Ga
Opellka to Roanoke..........
36
Eufauia to Ozark
60
-
Griffin, Ga. to Chat, Tenn. Ac.
80
1
1919.
1.918 miles:
Chlokainauga to Durham..
Savannah to Tybee
Columbus
to
...
—
Andalusia
Macon Junction
to
Athens^
...
18
18
138
102
Brewton to Dover.
Barnes ville to Thomas ton..
49 Lyerly Branch..
Upper Cahaba Branch
Greenville to Raymond....
198 r. Total owned
............
—13T7
MAY
ill A «
XVJyj,
j
★Government
,
j
see notes on
DM*
Par
.4 mount
Rate
When
Road
first page)
29
Control.
Miles
RAILROAD COMPANIES
[For abbreviations. Ac.,
APrlvate
RAILWAY STOCKS AND BONDS
Contract.
Bonds
Value
Outstanding
%
Payable
Last
Dividend
Places
and Maturity
Where Interes' and
Dividends
are
Payable
Carolina Clinchfield & Ohio (Concluded)—
Bonds Guaranteed, Prin. and Int., by Endorsem't—
Holston Oorp Realty A
Coll Tr Co convert notes
Caldwell do Northern 1st M
5 g
5 g
A
A
J
A
5
1,000
1,700,000
1,000
543,000
100 Ac
1,000.000
& Hud R Iver R R.
135,000
1,000
1903
1907
mm.m
__x
$1,500,000
$1,000
1916
call at par convert Into Ry pref
Ce.c*Ar*
Carolina & Northwestern—1st M $2,500,000 gold._Gx
J
A
O Apr 1 1926
J July 1 1953
D Jui? 9 11957
Central Un Tr
Co.
N Y
Checks mailed
do
do
J
D Jan 1
A
June 1917 coups unpaid
1962
"35 1912
5g
Carolina & Yadkin Riv—1st M g red 105 s f.Eq.xc*
Carthage & Adir and Carthage Water & Sack Har —See NYC
I
A
J July 1 1928
32
1898
4?
Reading Terminal, PhUa
Catasauqua A Fogelsville—First M gold
PeP.xo*
A
N See text
6
50
3.200,000
Cata wissa—Pref stock 5% guar PAR Ry (see text)
Company's Office, Phlla
A
A
4 8
O Apr 1 1948
First consol mortgage $2,215,000 gold
2,215,000
1,000
1898
Reading Terminal, Phila
PeP.xc*
A
J July
30
589,110 9% in'19 I
1920
"34
4H 30 Pine Street New York
Cayuga & Susquehanna—Stock 9% rental DL&W.
Cedar Rapids Iowa Falls & Northwestern—See Chlca go Ro cii Isla nd A Pac ific Ry
F
A Feb 1 1927
A
NY JPMorgan A Co, A Lon
6 g
Central Argentine Ry—Conv gold notes call(text)G
1917
1,000
15,000,000
Central Arkansas & Eastern—See St Louis Southwest ern
semi-ann Dec 31 1919 2M New York
5
5,000,000
Central of Georgia Ry—Common stock
6
semi-ann Dec 31 1919 3%
15,000,000
Preferred stock 6% cum
J
D June 1 1929
Co's of 32 Lib rty St N Y
A
6 g
1919
8,000,000
Ten-year Secured bonds call after June 1 1924-_xxx
6 g
F
A
A Nov 1 1945
1st M $7,000,000 gold
7,000.000
312
1895
Guaranty Trust Co N 1
1,000
G.xo*Ar
Soe text
6 g
1919
Apr 1 1959
Refunding & General Mortgage
do
do
Vf
N Nov 1 1945
A
6 g
1895
Consolidated mortgage $ 18,500,000 gold_ _Ba .xo* Ar
1.493
i,o5o 18.498.000
r
A
J Jan
do
do
5 g
1 1946
1,000,000
Mobile Dlv 1st M (Columbus to Andalusia^ g.-(J,xo
138
1895
1,000
A
do
do
i
1 1940
5 g
J Jan
1.000
Maoon A North Dlv 1st M $840,000 gold—MBa.xo*
102
1895
840.000
do
j
A
do
D Deo 1 1945
6 g
462,000
Ocon Dlv 1st M Brewton to Dover $6,000 pm_G.xo*
1.000
77
1901
A
D June 1 1926
J
168.000
5 g
500
21
Savannah, Ga
Eatonton Branch first mtge not guaranteed gold_x
1896'
j
J Jan
1 1947
A
5 our
Mid Ga A Atl Dlv 1st (oonsol) M $9,000 p m__G.xo
65
1897
413,000
1,000
Guaranty Trust Co, N Y
i
do
A
do
D June 1 1951
4 g
164
1901
1,000
2,057,000
Chattanooga Dlv puroh money M $2,400,000 gG.xo*
Union Trust Co, New Yk
j
A
J Julv 1 1947
343.000
1,000
138
1897
5s
Chattanooga Rome A So 1st M $500,000 gUn.xc*
F
A Aug
A
180 000
4 g
12
1905
1,000
20 Aug '25 Guaranty Trust Co, N Y
Upper Cahaba 1st M g due $15,000 s-p call 102H-Nx
do
do
4 g
M
A
S Sept'20 Sept '25
Greenv A New 1st M g due $15,000 s-a call 102MNx
180.000
24
1905
1,000
Guar Tr Co,N Y or Saran
Nov 1 1945
5
Oot 1
1895
136,500
1st pref Incomes! Interest up to 5% f
1,000
Mpz
do
do
Nov 11945
Oct 1
1895
5
2d
do
do
1,000
104,350
\
gold If earned {
Cez
Nov 1 1945
do
do
5
Oct 1
1895
1,000
3d
do
do
47,500
J
non-cumulative I
A
M
N May 1 1937
Central RR A Bk coll tr bonds g red at 110
1,000
5 g
1887
Guaranty Trust Co, N Y
4.840,000
Ce.o*
J
A
J July'20-Jan '26
Commercial Tr Co, Phlla
1916
1.000
600,000
Equip trust series L $50,000 semi-annually
4M
—
-
mm m
m
mm
mm
•
-
m
,
mm
mm
mm
m
m
—
.
«* m
mm
mm*
Guaranteed, Ac.—
Ocean SS Co first mortgage gold
Augusta
"53
«•
First M gold $2,000,000 lnt rental st red at 102 Mx
Lines leased (see these oos.)
Southwestern
Macon to
J
A
5
J
A
5
J
A
j July 1 1920
Guaranty Trust Co, N
J July 1920 2H% Savannah. Ga
J July 1920 2H% Savannah and Macon
5
J
A
J
189 000
5 g
J
A
,T
mmmm
m
<■»»
m
-*
m
1900
91
Federal
Chattahoochee A Gulf RR.—
Miles
91
Columbia to Lockhart
RR.—r
Eufaula!
1,000,000
1,022,900
5.191,100
4.36.400
1.000
mm mm
833
5 g
100
100
1,000
•100
1890
guaranteed-Ce.zo
|A Savannah stook (no bonded debt)
Southwestern Railroad stook (no bonded debt)
Chattahoochee A Gulf stook
L-;
144
15
Trackage
Fort Valley to Perry
Fort Valley to Columbus
Smlthville to Columbia
8-e
Cuthbert to
20
Fort
Total oper. Jan. 1 1919
1,918
owns
Medrim to Lyons, 68 m
71
Gatnes
Augusta A Savannah RR.—■
MUlen to Augusta
53
Also
(leased to Seaboard Air Line).
Ocean SS. Co., est. equlv. of
300
Controls Wrlghtsvllle A Tennllle and
Wadley
Southern
Ry.,
Sylvania
Central and Louisv. & Wadley RR.
ORGANIZATION.—Succeeded Nov. 1 1895 the Central RR. & Banking
Co. of Georgia, foreclosed.
V. 102, p. 344.
V. 60,
p.
1008; V. 61, p. 68.
Ocean SS. Co..
acquired by the Illinois Centrral
Is operated Independently.
V. 88. p. 1559: V. 84. p
1550;
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
Federal Compensation.—$3,444,159 yearly during Federal control (con¬
tract executed).
V. 108, p. 1060.
In June 11909 the $5,000,000 stock was
but
V.
the road
Pref., 6%
p. a.
stock, 1913 to Dec. 31 1919, 5% per ann.
common
since June 1913.
V. 108,
BONDEJ.—The first mortgage of 1895
V. 84. p. 529. 605:
V. 87. v. 550.
p.
2240.
(described In V, 63, p. 1160)
and
Compensation.—$1,468,123.63
$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.
—Jan. 1 -Dec. 31
1919.
1918.
Jan. 1 -Mar. 31
EARNS.—
1919.
1920.
Gross
$6,465,314 $4,913,494 $21,696,510
1,223,163
246,475
2,459,946
Net...
REPORT.—For calendar year 1918, in V. 109, p.
Federal Oper.
revenues
expenses
Interest
dividends
$5,362,242
$1,997,411
508,242
724,203
900,000
250.000
$55,287
(6%)
surplus
$3,723,686
1,623,303
$3,700,418
$1,986,889
——
Common dividends (5%)
Balance,
1,270.706
900,000
250,000
bonds, &c
Rentals and miscellaneous
Preferred
84,091,536
720.238
.
income
on
$4,444,098
$1,490,628
101,672
,
$5,346,989
$2,029,949
667,389
900,000
250,000
$1,499,651
OFFICERS.—Chairman, Charles II. MarkJham. Chicago. 111.; Pres.,
W. A. Winburn; V.-P., L. A. Downs, A. R. Lawton; Sec., Charles F. Groves;
Treas., W. C. Askew.
General office. Savannah, Ga.; N. Y. office, 32
Liberty St.—(V. 110, p. 658, 1289).
★ CENTRAL INDIANA RY.—Muncie to Brazil, Ind., 127 miles, of which
10 m. trackage. V. 76, p. 653.
Controlled by Clev. Cin. Chic. & St.
and Penn. RR. interests.
Bonds, guaranteed by Clev. Cin. Chic. &
Louis
St. L.
(which owns $60,000 stock), are limited to $20,000 per mile.
The Penn. Co.
on Dec. 31 1918 owned $750,000 of the $1,500,000 1st M.
4s.
V. 77, p.
517, 2279; V. 78, p. 1906. 1961.
Stock auth., $120,000.
The Penn. Co.
$60,000 stock.
Calendar year 1916, gross. $225,888; def. under oper.
during
Federal
control
BONDS.—The 1st guaranteed 4s of 1911 ($25,000,000 auth. Issue) are a
first lien on 141 miles of road and the Poughkeepsie Bridge; those unsold,
(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
which 5% p. a. Is regularly paid each Oct. 1. are covered by a special de¬
posit.
V. 103, p. 1031; V. 105, p. 997; V. 107, p. 1099; V. 109, p. 1079.
LATEST
EARNINGS—
Gross
Net
—
_
Jan. 1 -Mar. 31
1920.
1919.
$1,285,484 $1,412,758
def.569,393 def.77,415
Jan. 1 -Dec. 31
1919.
1918.
$6,757,408 $6,063,155
613,236
666,802
REPORT.—For cal. year 1919 (V. 110, p. 2185); Standard return,
$1,468,124; other income, $67,604; deductions, $870,123; adj. prior to
Jan. 1, $73,255; dividends, $320,342; surplus, $272,008.
A. S. May, Treas.;
2192.)
«
OFFICERS.—E. G. Buckland, New Haven, Pres.;
1079; V. 110,
p.
★ CENTRAL PACIFIC R Y.—(See Map of Southern Pacific.)
Lines Owned—
Miles. Hazen, Nev., to Keeler, CaL_288.65
Weed, Cal., to Kirk, Ore
127.38
Natron to Oakridge, Ore—— 34.39
Mojave to Owenyo, Cal
142.90
Fernley, Nev.. to Westwood,
Cal
136.60
139.08
Nlles Jet. to Redwood Jet
16.24 Branches
Oakland, &c., local lines
18.84
Oakland pier to Elvas, Cal
133.46
Sacramento,
to
Cecil
Cal.,
Jet., near Orden, Utah
692.20
Niles to San Jose, Cal
17.58
Umbria
Jet., Nev.,
Ogden, Utah
to
near
141.64 Leased
L&throp to Goshen Jet., Cal..146.57
Roseville,
Cal.,
to
Line
State
Less leased to So. Pac. RR—.
17.44
33.61
Oregon
296.58
Tot. oper. Dec. 31
1918^.2,288.97
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.
STOCK.—The Southern Pacific Co. owned the entire $67,275,500 com¬
mon
and $17,400,000 pref.
after 4% on each.
common
Preferred,
Common,
Pref. is 4% cum. and participates equally with
All pledged for its coll. trust 4s.
V. 96, p. 419.
*16
'17. '18.
6
6
10
6
6 26.6 4
4
6
6
6
6
10
6
6 26.6 IX 1H
6
6
*08. '09. '10. *11. *12. *13. '14. *15.
LATE DIVS.
6
%..
%
.....
6
BONDS.—First Refunding mtge.
$4,978,688
$4,646,392
$3,450,903
—
_
Income (after taxes), Ac
Other income
Total
$20,692,888
4,674,711
884;
$2,980,180
Net operating revenues
Federal compensation
Federal tax accruals
_
1918.
1917.
1916.
—$20,692,888 $16,024,537 $13,725,144
16,046,496
11.045,849
9.281,046
Calendar Years—
Operating
Operating
—
yearly
STOCK.—Common, $4,800,000; pref., $3,750,000; par, $100.
After
4% on the pref., both classes participate equally.
Dividend on non-cum. pref., 4%. paid in 1913-14; in 1914-15, 6% on
pref. and about 2% on common.
Cal. year 1916. 7%% on pref. and
3M% on common; 1917, 534% pref. and 134% on common.
Arthur E. Clark, Sec.—(V. 109, p.
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, p. 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 Cahdba Branch bonds, V. 81, p. 920, 1099.
The shareholders on
May 28 1919 authorized (a) a General & Refunding Mtge. bond issue and
(b) 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 ^ of 1% for each 6 raos.
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
LATEST
July 1920 ?.M% Savannah, Ga
Cltlzens'Bk.Savannah, Oft
July 2 1930
(contract executed).
85. p.
DIVIDENDS.—On
Y
gold 4s, $100,000,000.
V. 69. p.808-
V. 78. p. 228; V. 87, p. 225. 285, 479; V. 88. p. 52.
\Thiriy-year gold 3 Ms. $25,000,000, Becured by a second Hen upon an the
properties covered 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 aud
$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 Dec.
31 1918 $16,885,975 had been canceled
or purchased for cancelation, reducing those outstanding to $8,114,825.
Lucin Cut-off 4s are call, at 107MV. 79. p. 1641; guar., V.80. p. 162.
In Feb. 1911 the sale was arranged in France of 250,000.000 francs 4%
35-year coll. trust bonds, guaranteed by the Southern Paclfto Co (the latter
and V. 70, p. 739;
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.
101, p. 2146.
The $8,500,000 outstanding Nevada A California 6% bonds ($15,000,000
auth. Issue) 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.
AH of the five foregoing issues are owned by So. Pac. Co.
The $10,139,350 5-year 6% extension notes were paid off in 1918.
12,000,000 acres, of which
311918.
Sales in 1918, 170,025 acres,
Land contracts Dec. 31 1918, $1,563,979.
LAND GRANT.—Total land grant was about
about 6,934,427 acres unsold Dec.
average
price per acre, $5.39.
total operating revenue was $47,352,799
$16,505,736; non-operating income was
($815,990) and other deductions aggregated
REPORT.—For cal year 1917.
owns
total operating income (after taxes),
$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.
Van Winkle.—(V. 78, p. 1961.)
$208,826: hire of equipment
exp.,
ENGLAND RY.—Owns from Campbell Hall, crossing
the Hudson River at Poughkeepsle by Its own bridge, to Silvernalls, 34 m
Poughkeepsle, N. Y„ to Hopewell, 12 m.; Dutchess Jet., N. Y., to State
line, 53 m.; Poughkeepsle, N. Y., to Boston Corners. 34 m.; total owned,
138 m ; and leases and controls Hartford A Conn. Western RR„ Hartford
to Rhinecliff, 110 m., and branches, 17 m.; trackage, Hopewell Jet. to Danbury, Ac., 35.11 m.; total, 301 miles. V. 89, p. 918; V. 95, p. 418.
The Federal contract executed in Feb. 1919 grants the company an annual
★ CENTRAL NEW
compensation of $1,468,123; non-operating income for year 1918 is $58,685:
total, $1,526,808; interest charges, rentals, &c., amount to $975,196, leav¬
net of $551,012, or equal to 8 7-10% on the preferred and 4 7-10%
on the common I
The average rate of dividend during the three years
ended June 30 1917 was 6% on the preferred and 2% on the common.
ing
a
V. 108, p. 783.
ORGANIZATION.—On Dec.31
$3,737,083 pref. and $4,795,054
p
.469; V. 90,
p.
„
1918 the N. Y. N. H. A H. RR.
com.
stock.
1238, 1296, 1489; V. 91. p. 153. 396. 870.
owned
V. 85. p. 404. 858; V.
89.
by Southern Pacific Co., $14,471,Pacific Co., $1,148,228.
plus other income gave the Central
$13,472,561, from which it paid tax accruals $346 693;
$1,095,115; rental payable to company
219; balance net profit to Southern
The rental in 1918 ($12,903,073)
Pacific
Ry.
Co.
$7,780,071, other charges,,$159,424; sinking fund
(against $444,214 in 1917); dividends o* stock,
$5,080,530; balance surplus, $50,027 (against $1,162,779 in 1917).
For
year
1915-16 operating revenue, $38,681,484; oper. income after taxes,
$16,350,098, against $12,477,503 in 1914-15.—V. 105. p. 180.
interest on funded debt,
and other reserves, 555,815
★ CENTRAL RR. OF NEW JERSEY.—(See Map
from Jersey City, opposite New York City,
Reading System.)— Oper¬
westerly to Wllkes-Barre
neighboring anthracite coal fields; also southerly
to the seashore resorts of New Jersey and to the Delaware River.
Owned in Fee (V. 106,p. 1787) Miles.
Controlled by Agreement. &c.
Jersey City to Phllllpsburg
72
(mostly under 999-yr. leases):
Sundry branches
308 Allentown Term. RR. (op. jointly) 4
Controlled by Stock Owned—
New York A Long Branoh RR.,
Easton & Western RR
4
Perth Amboy to Bay Head
33
ates
and Scranton, Pa., and the
★Government
30
Date
Par
Amount
Rate
When
Road
first page.]
Bonds
Value
Outstanding
%
Payable
117
do
do
US gold
50-year mortgage bonds ($78,000 5s due 1939)
Nevada & Cal, &c, 1st M assumed
Oregon Eastern first mtge assumed——
1903
1890
1,000
287.000 4H
141
1911
1,000
Ac
13.427,000
1,349
1,349
1899
500
Ac
1899
500
Ac
98.849,000
8.114,825
9,640.000
23,535,618
24,726.905
103,000
8,500,000
5.000,000
1904
1,000
1911
103
500
—■
479
86
—
1911
1912
Other bonds—see text
All
1887
All
1887
1918
Equlptr Ser G $1,800,000 (all in treasury)
_
LAW BOonM $20.000,000serial g guar.PeP.xxo*
Am Dock & Imp Co 1st M guar redeem at llOx.xxc*
NY&LBr Gen M g int gu Jtly ($192,000 5s> -Cexxo*
Lehigh & Hud Riv Gen M gold guar Jolntly.Ce.xxo*
Csntral RR of South Carolina—First mtge gold.—xc
Central Ry of Canada—1st M £2,600,000 call 105—
Central Counties 1st M (V 90, p 1169)
38
.
1.0001 b43.924.000
500 Ac/
1,006 NoneOct'19
1,000
1.000
1910
1881
1891
1890
1881
•
'"40
J
&
A
4
4
M
'4
M
&
A
&
6
M
4
8
J
4
'
4
1,000
!g
See Text
£&$
M
4
4
Sent RyTerminal RR—SeeM $150,000 gSt Paul & Saul
entral of So Car—First Minneapolis gu red-.CPi
t
Vermont—Stook $3,000,000
See text
Eq tr notes due $49,iK)0 each F & A (V 94, p 350jx
Montreal & Province Line Ry 1st M guar p & 1
r
O V Trans eq bds g gu $12 M or $13 M due s-a.Ba.x
Central W Va & South RR—1st M g s f red text_.c*
Charleston & Savannah—See Atlantic Coast Line RR.
Charleston Terminal—FlrstM $1,000,000 g „.G.xe*&r
Charleston UnSta— 1st M$400.000 g gu(text)Eqxo*&r
Charleston & West Car—IstM g($8.000 p m)Ce.xc*Ar
1st consol M Ser A_—
—SBa.xc*
£97,500
150.000
100
3,000.000
1,000
100 Ac
196.000
5
F
4
200,000
25,000
4 g
A
4
5 g
M 4 N15 Nov
600,000
0 K
J
800,000
250.000
2,720,000
2,380.000
4 g
4 IS
4
J Jan
1 1937
5 g
4
O Oot
1 1946
J Jan
Ste
Marie
New refunding mortgage.
do
do
1912
1900
1913
1903
1907
1896
341
341
Mine RR*
Nesquehonlng Valley •
Lehigh & Susquehanna, Phllllps-
5
10
1?
1,000
1.000
1,000
unlss ued Dec 31
Other
Liberty Nat Bank, N Y
Irving Nat Ex Bk. N Y
Bankers Trust Co. N Y
100 held
$2,185
A
by
Grand Trun
A Aug
O Oct
Jan
J
4
J
1
1950
July 1 1953
6g"
600,000
J Jan
1 1964
1 1964
4
O Apr
1 1947
4
Ry ef Canada
4
Amer L
Co,
New
& Tr Co.
York
Boston
'20-May*21 Bankers Trust Co, N v
West End Tr Co, Phlla
1 1933
4
2 to 5
See text
k
'20-Feb '22 Blair
Co, N Y
Equitable Trust Co. N Y
Union Trust, N Y
New York or Baltimore
Guaranty Trust
Cent
do
do
Cent Union Trust,
N Y
1920 approved the petition of company allowing
it
12
&
Hudson
Public Utilities in Apr.
to transfer by mortgage and deed of trust its property including the lease¬
hold of the New London & Northern RR. to the New York Trust Co. to
34
trackage
secure an
HISTORY.—Reorg. in 1887 without foreclosure; V. 44, p. 714, 716; V.
Concerning coal properties, see Lehigh 4 Wllkes-Barre Coal
105, p. 1707.
"Miscellaneous." In 1901 Reading Co.
acquired control, owning $14,500,000 stock.
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 clause of the Inter-State commerce law.
In Oct. 1915 final decree of U. S. Dist. Court dismissing said suit, ordered
that this company must dispose of its interest In the Lehigh & Wllkes-Barre
Coal Co. within 90 days.
Both parties appealed to the U. S. Supreme
Court.
On Apr. 26 1920 the U. S. Supreme Court sustained most of the
Government's charges.
V. 101, p. 1464,1807; V. 110, p. 1816.
Full Crew
Law, V, 10.5, p. 1897, 2093.
Rebate decision in V. 109, p. 1891.
Federal Compensation Contract.—The contract with the Director-Gen
eral was executed by the company in 1918, but in Nov. 1919, 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¬
ard 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'20
Regular— 6H 7 y'rly 5>*
5
4g
4
4
5
5
8 yearly
(Q-P).
8pecial
Dec. 1899 to June 1919,4 yearly (J 4 D)
Special seml-ann. divs. of 2% each (making total annual 12%) are paid
out of Leh. & W. B. Coal Co. divs. of $1,097,472 per annum received.
June 1909 to Dec 1919, incl.
BONDS.—For General Mortgage abstract, see V. 45, p. 402.
The $20,000,000 ($14,496,000 issued) Leh. & Wilkes Barre consol. serial
4s, guar. p. & i., mature $2,5O0.OOO every 5 years beginning June 1 1915.
During 1918 the remainder of the property of the American Dock &
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.
The New Jersey P. U. Commission in May 1920 authorized company to
issue $2,700,000 of equipment, series "H," due serially to May 1 1930, to
be sold at not less than 95 H.
It is understood that the entire issue has
been taken by the First National Bank, New York, and will not be offered
to the public,
,
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.—
1920.
1919.
1919.
.918.
Gross
$10,716,764
$9,692,373 $44,837,302 $44,790,670
Netdel'556,205
439,415
4,563,351
8,421,400
$15,000,000, dated May 1 1920 and
1930, proceeds to be used to retire and refund $12,000,000 1st
Issue of bonds amounting to
due May 1
Total operated Dec. 1918-----685
burg to Union Jet., Ac
164
•
See this company.
Wllkes-Barre & Soranton •—
4
There are 262 mlies of 2d. 45 miles of 3d and 34 miles of 4 tracks.
Co. and Lehigh Coal & Navigation in
do
1918
Trackage—
Delaware
J Jan
4
Y
do
do
12
Other lines
Miles
RR
A Rockaway
Ogdeii
1,000
1897
Augusta Terminal Ry 1st M
Dover
1,000 Ac
1,000 Ac
1914
1914
341
——....
gold guar p & 1 end.xO
b Additional $1,167,000 in treasury and $4,909,000
1,000
1,000
1909
31
ao
Ry
Central
40.6
Liberty Nat Bank. N
See text
$500
J
Check from Treas. Office
Colonial Trust Co, Plttsb
£100
1906
g
Co
1 1926
14j 1949i
i909
7
4
do
Owned by South Pac
do
do
1 1964
Jan
Q—J
MAS
'37
6
1
1921
S Sept 1 1941
J July 1 1920
J July 1 1921
4
J
A 5 g
do
do
f
J July 1
4
J
4
300.000
Y
J July 1 1987
4
J
NY
do
do
July 1 1987
MAN May 1 1921-'26
J
4
D Junel 1920-'&U
ie
4,987.000
N
London, Paris, Belg, &c
165 Broadway, N Y
Q—J
Si
5,801,000
Phila
Bk,
Nat
May 1 1920 2% Office 143 Liberty St,NY
Liberty Nat Bank, N 7
Q—F
J
1
J Jan 1 1942
Tr Co,
do
Oct
O 1936 & 1939
N Nov 1 1941
Payable
are
165 Broadway,New T ork
Mch 1 1946
5 & 6
2,500,000
1,062,000
1,000
Fid T Co,
Lincoln
1 1954
Moh 1 194«
4
Where Interest an*
Central Un
Aug 11949
Aug 1 1929
F
V
Places
Dividends
11961
J Jan
g J
A
33?
t*
27.436.800 12 in *19
100
Central RR of N J—Stook ($30,000,000 authorized)-.
Central RR of N J Gen M $50,000,000 gold .Ce.xxrc
do
do
registered
xx
(6) g
4 g
Dividend
and Maturity
N May 1 1953
D June 1 1940
A
J
4 g
$1,500,000
$1,000
12
$4,000,000 gu p&l endLCe.xc'&r
Cent New England—Dutch CoRH IstMg guar Ba.xo*
0 N B 1st M$25,000,000g gu redl05beg'21-Fxo*&r*
Central Ohio—See Baltimore & Ohio
Central Ontario Ry—See Canada Northern Ry—
Central Pacific—1st RefM g gu p & 1 end.Ce.xo*&r
3Hs $25,000,000 gold guar d & 1 end
Us.xc*&r
Luoln cut-off 1st M $10,000,000 gu (text)-G.xo*&r*
Bonds 250,000,000 tranos guaranteed red par_-Uax
Cent Indiana—1st M
M
[VOL. 110.
Control.
Last
Miles
RAILROAD COMPANIES
[For abbreviations, &c., see notes on
A Private
BONDS
RAILWAY STOCKS AND
Contract.
mtge. 4s, due May 1 1920, &c.
,
,
_
A committee representing a large amount of the First Mtge. 4% gold
bonds, due May 1 1920, Henry E. Cooper, Chairman, and Lloyd Church,
24 Broad St., N. Y., Secretary, in circular of March 5 called for deposit
of these bonds on or before May 1. with Equitable Trust Co., N. Y., or
American Trust Co., Boston, depositary.
For personnel and statement of
committee, compare V. 110, p. 969, 1289.
Jan. 1 -Mar. 31
Jan. 1-Dec 31
LATEST EARNINGS— 1920.
1919.
1919.
,
1918.
Gross
$1,446,445 $1,196,574 $5,852,308 $5,188,812
-
def.414,834def.204,325def .580,580def .399,726
Net
REPORT.—For cal. year 1917 in V. 107, p. 1666.
Year—
Gross
Net.
Total Income. Charges.
Bal.. Sur.
$5,852,308
tS812,320
*$835,402
$884,030
t$48.628
5,572,813
1486,487
*835,402
729,570
105,832
1917
4,816,578
526,168
576,555
731,283
1154,769
*
Federal compensation, .t Def.
OFFICERS.—Chairman, Howard G. Kelley; Pres., E. C. Smith: Clerk
& Treas., Bruce It. Corliss, St. Albans, Vt.—(V. 110, p. 1088, 1289, 1526,
1848, 1972.)
1919
1918
-
ACENTRAL WEST VIRGINIA & SOUTHERN RR.—Hendricks. W.
Va., to Armentrout, 29.5 miles; leases from Armenfcrout 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. Whitmer; V.-P., Charles Steele; Treas., J. E. Richards; Sec., M. M. Daly,
Philadelphia, Pa.
Office, Hendricks, W. Va.
★ CHARLESTON (S. C.) TERMINAL CO.—ROAD.—Owns terminal road.
14 wharves, 30 warehouses, 4 cotton compresses, Ac.
V. 77,
5.02 m.;
6, 148, 298. $200,000, owned jointly by Atlantic Coast 2455);
Stock authorized, $5,000,000 (V. 105, p. Line
1917,
ec.
Issuedand
to
RR.
Southern Ry., which agree to make good any deficiency In Interest on bonds.
Loans and bills payable. $30,000.
For year ending Dec. 31 1917, gross,
$191,983; net aft. taxes, $7,234; other Income, $14,568; interest. $32,000;
def., $10,198.—(V. 108, p. 578.)
.
REPORT.—Fiscal
year
For 1918, V. 109, p. 1268.
1918.
1917.
1916.
$22,082,808 $17,907,187 $16,930,604
ends Dec. 31.
Earnings from—
Merchandise
Anthracite coal
Passengers
Mail, express, &c
Total
11,30,5,047
7,485,147
„
9,195,132
$44,790,671
—
8,511,500
6,663,309
3.331,111
3,917.669
6,134,814
2,795,430
$37,096,739 $34,372,348
$12,215,701
Net earnings
$8,421,400 $10,683,887
Rent acc. und. Stand. Return (90%)c $8,417,071
Net income (after taxes)
a$10,523,138b$12,655,721
Rentals paid
Dividends (12%)
Surplus
a
2,532,463
141,822
3,205,362
3,292,416
$11,823,432
2,474,442
142,639
3,308,456
3.292.416
$2,605,478
4,037,833
253,590
2,628,149
a3.292.416
_
Miscellaneous
;
Other income in 1918 includes the usual $1,103,622 received from the
divs.
on
the
$8,489,400 stock owned in the L. & W. B. Coal Co.
b Dividend income in
1917 included four semi-annual divs.
of $2,207.1915, to June 1917.
c Only 90%
of the Standard Return is accounted as accrued for 1918,
pending the execution of the compensation agreement.
OFFICERS.—Geo. F. Baker, Chairman; W. G. Besler, Pres. & Gen.
Mgr.; R. W. de Forest, V.-Pres. & Gen. Counsel; T. B. Koons, V.-Pres.
& Frt. Traffic Mgr.; F. T. Dickerson, Sec. & Treas.
V. 110, p. 871, 2075.
244 from L. & W. B. Coal Co., viz.: Dec.
★ CENTRAL RR. OF SOUTH CAROLINA.—Owns from Lanes. S. O., to
Sumter, 8. 0., 40.2 miles; spurs, Ao„ 1.61 m.; total, 41.81 m.
Leased to
Atlantic Coast Line RR.; rental, $31,000 yearly and taxes.
Stook, $170,-
000; par. $50.
Annual rental, $31,000.—(V. 64, p. 887.)
CENTRAL RY. OF CANADA—See
page
136.
CENTRAL RY. OF/ SOUTH CAROLINA.—(V. 82. p. 927.)
★ CENTRAL VERMONT RY.—Operates from Rouses Point, at north aid
of Lake Champlain, to New London, Conn., with branohes, 532 miles In all.
of which 160 miles leased, viz.; New London A Northern (see that oo.). 121
miles; Montvllle 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
Mar.
1920.
V.
110, p.
1416.;
V. 107, p. 2008: V. 102, p. 1718.
The advances by the Central Vermont
account of this line had on June 30 1916 aggregated $8,049,104, the
on
C.
V.'s loans and bills payable
Dec. 31 1918 amounting to $8,649,264.
V. 103, p. 2078.
Steamboats, V. 103,
V. 98, p. 1459; V. 102, p. 65, 2341;
p.
4C6.
Federal
Compensation.—$835,402
yearly
during
Federal
control
(con-
tjpc&Ct/ 0XGCtltcd)
SECURITIES, Ac —The Grand Trunk Ry. holds $2,164,500 of the $3.000,000 stook.
Form of Interest guaranty, V. 85, p. 283.
For Central
Vermont Transportation guar. 5% bonds, see V. 88. p. 1252; guar, bonds
covering 2 steamships. V. 94. p. 910,1249,1626,1895: V. 95, p. 749. There
were also Dec. 31 1917 $35,00(5 collateral bonds.
The Mass. Department of
also
uses
passenger
station under agreement.—(V. 84, p. 50..
★ CHARLESTON & WESTERN CAROLINA RY.—Port Royal. S. 0., via
augusta, Ga.. to Spartanburg, S. 0., 246 m.; branohes to Anderson and
Greenville, S. C., 95 m.; total, 341 m.
Track rights, 2 m.
Entire stock
owned by Ati. Coast Line Co. V. 66, p. 38, 335.
Federal Compensation.—$466,921 yearly during Federal control.
STOOK.—$1,200,000; par. $100. See Augusta Term. Ry. V 66, p. 383.
BONDS.—Of the 1st consol. 50-yr. bonds of 1914 ($10,000,000 author¬
$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
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, $800,000 to take up the Augusta Terminal 6s
and $4,300,000 exten., betterm'ts or eauip. V. 98. p. 1315. V. 100. p. 1347.
V. 100, p. 1347.
ized Issue),
next 5 and
$311,151 b$3,483.657
Interest, &c
★ CHARLESTON
UNION STATION CO.—Owns passenger station at
Charleston, S. C.t used by Atlantic Coast Line and Southern Ry., each of
which owns Yi the stock and guarantees the bonds, p. & i., by endrosement.
Rental covers interest on bonds and 4% on stock.
8eaboard Air Line Ry.,
Equipment trusts issued to Director-General for rolliDg stock allocated
See article on page 3.
REPORT—Year ending Dec. 31 1918:
Common
Balance,
Calendar
Gross
Net after
Other
Interest,
Dividends.
Surplus.
Years. Earnings.
Taxes.
Income. Rents, &c,
(6)$72.000
$158,150
$251,743
$52,472
1918..*
$466,921
$429,121
433,537
335,608
(5) 60,000
65.828
1917--. 2,401,443
763,317
♦Federal compensation.
Pres., F. B. Grier, Greenwood; 1st V.-P. J. R. Kenly; 2d V.-P. & Gen.
Mgr.. A. W. Anderson; Sec. ,R. D. Cronly, Wilmington; Treas., John T.
Reid.—(V. 110, p- 969, 1289).
CHATEAUGAY & LAKE PLACID RY.—Operates from Plattsburg,
N. Y., to Lake Placid, 79 miles, of which Bluff Point to Dannemora, 16 m..
Is leased at nominal rental from State of New York.
Stock, $3,450,000. of which $3,000,000 Is 4% non-cum. pref., the latter
all owned by D. & H. (V. 84, p. 50) and $450,000 common stock, of which
the D. & H. owns $75,000.
Leased to the Del. & Hudson until Dec. 31
2403, any b&lanoe over expenses of operation. Interest, taxes, maintenance,
damages, dividend on pref. stack. Ac., to go to the lessor.
The lease is
subject to revision on 6 months* notice by either party.—(V. 84, p. 50, 930.)
to tais company.
'
★ CHATTAHOOCHEE & GULF RR.—Columbia. Aia.. to Florala. 92 m.
LEASE.—Leased lu 1900 In perpetuity to Cent, of Georgia Ry. for 6% on
$436,400 stock and $407,000 bonds (or which only $190,000 outstanding
Jan. 1 1919). of which 1% to be used as a sinking fund for retirement cf
bonds, upon completion of which rental will be 5% on stock, payable J.-J.
8ee Cent, of Georgia Ry.—(V. 99. p. 1748; V. 105. p. 2542.)
VALLEY RY.—Standing Rock, Alabama to
Stock auth., $1,000,000; issued, $110,000:
$100.
Bonds, see table above.
Loans and bills payable Dec. 31
1919, $92,934.
YearJ 1919, gross, $229,812; net. after taxes. $42,533;
charges, $49,860: war taxes, $1,573; bal., def. $8,900.
Year 1918, gross,
$207,113; net, after taxes, $69,289; charges, $37,677; war taxes, $1,981;
bal., sur., $29,630.
★ CHATTANOOGA STATION CO.—Owns anion 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
Paolfio. which each owns one-fourth of the stook and guarantees the bonds
Jointly and severally, p. & 1.. by endorsement.
Rental covers bond interest
and 4% on stock.—(V. 84, p. 50.)
A CHATTAHOOCHEE
Bleecker, Alabama, 44.5 miles.
par.
CO
m
a
&
o
PQ
Q
&
<
co
M
o
o
H
CO
<3
g
P3
o
<N
O
SJ
3
★Government
S2
see notes on first
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
44.5
1900
$1,000
1,000 Ac
100
500 Ac
1 000,000
10
1882
697
242
1889
uMiri/gfiKe uur ♦/u.vw.wu
! 25
1,433
1891
1892
22
1905
104
ecvr k<jiu_
1905
1900
Ce.xo
Ce.xc'
101
80
30
1907
35H
1,661
1906
1909
1919
500 Ac
1915
$37,200,000 red text Usm.xc'Ar'
30~4
1,000 &c
Kanawha Bridge & Ter
1911
1st Mg red 105begT0FP„
text)
...
D June 1 1922
A
J
A
J July 1 1940
M
A
S Men
A
s Mch
do
A
Feb
4
A
M
A
A
J
A
Nov
J
1 1940
P
''■'■■■■
do
Morgan
Co, N
&
Y
Office, 61 Broadway. N Y
do
F
A
A Feb
&
o
&
o
5 g
A
4 Z
A
do
do
1936
do
do
1929
1930
1946
J
A
do
1952
N May
J
5 g
5 g
ml*
do
do
\A g
A
do
do
,
J
J
;
D
J
do
do
do
1945
D
N
do
i
do
1992
A
4 g
5 g
471,000
do
Office 61 Broadway, N Y
1 1941
A
A
Payable
Amer Trust Co, Boston
J, P. Morgan <fc Co. N Y
2% Office, 61 Broadway, NY
f P Morgan A Co, N Y
N May 1 1939
1 1989
J Jan
Pledged
1,000
&
A
4 g
5 g
900.000
1908
June 30 *20
A
4
840,000
pi.698,000
31,390.000
40,180,000
1,000.000
-
Ches & Ohio Norlst M (closed; red 105 gu P A 1-.
First Lien A Impt mtge $125,000,001 authorized
AJ15 July 15 1920
1 1957
J Jan
J
are
11932
A
_
g M
F
4 g
4 g 2: J
M
4 g
539.000
2,756.000
1.722.000
4,448,000
600.000
1,000
1,000
1,000
1,000 Ac
1,000 Ac
1916
Convert g bonds
400,090
48,129,000
1.000
1.000
1,000
1906
J
5 g
5 g
650.000
1,000
1,000
1904
20
J
62,792,600 4 In 1919
J
112,000
6g
M
5 g
29.858,000
J
4 g
7,090.000
1.000
1.000
1,000
1,000
1890
1890
26
Paint Creek Branch 1st M $750,000 gold
Coa! River IstM g ass d
6
$280,000
1907
Ea.xoA
Chesapeake & Ohio—Com stock ($155,000,000 auth
Terminal 1st M 1922 covering 8 m to Phoebus g-zc
First Con8ol mtge tor $30,000,000 gold__Ce.xc*&
Where Interest and
Dividends
and Maturity
O Oot
A
A
4 a
1902
Chattanooga Station—1st Mg gu(text)_.
\jeuerai
52
70,000
1,000
31
Charlotte Monroe & Columbia—1st M $70,000 g—<
Charlotte Columbia & Augusta—See Southern Fly
Chartters—-See Plttsb Cincinnati Chicago A St Louis
Places
Dividend
Last
Date
Road
panel
[Vol. 110.
Control.
Miles
RAILROAD COMPANIES
IFor abbreviations, <kc.
APrivate
RAILWAY STOCKS AND BONDS
Contract.
do
do
do
'
do
do
do
Office. 61 B'way, N Y
1945
-m
&
0
A
o
April
Fidelity Trust Co, Phila
1 1948
Oar and equipment trusts (see
Guaranteed bonds—
Kiev Co l«tMg(CAO owns
1888
Louis A Jen Bdg 1st M $5,000,000 gu p A 1 end_.c»
Norfolk Ter & Trans 1st M (V 67. p 322) gu p A l.x
Western Pocahontas Corp 1st M
do
do
do
do
p
p
Further $7,302,000 pledged
under
first lien &
*4,500,000
500.000
750.000
5
J
18)8
1906
1,000
1,000
1906
1 .ooo
1905
1903
impt.
aatl
Ac
1983
s Mob
1
1945
J P Morgan & Co. N Y
1
1948
Office 71 Broadway, N Y
do
do
A
5
F
A
A
Feb
4A
4A
4A
r
A
A
Aug
F
A
A
A
A
O Oot
do
A
St
C hloago A
★ CHESAPEAKE & OHIO RY,—(See Map.)—On Dec. 31 1918operated
Controlled by stock—
Lines owned in fee—
Miles.
Miles.
2
Ft.Monroe,Va.,toCovlngton,Ky. 063 Bridge—Oovlngton-Clnolnnatl
Clies. & Ohio Ry. of Indiana
Richmond via Lynchburg,
261
to
Clifton Forge, Va
29
230 Ches. A Ohio Nor
D
Louis.
Kanawha Bridge A
V. 109, p,
783.
Terminal 5s, V. 91, p. 1029, assumed by C. A O. Ry
5
<
.
Series.
103
Sundry branches leased
29
O
84
P
128
Trackage to Louisville...
Norfolk A West.
1914 4^%
1916 4 V*% call 102
1916 4
%
R
1917 4H%
branch
„
N
62
Trackage to Washington. D. O.
85
Other
76
55
trackage
...
Total of all
2,484
Second
350
m.
track (497 owned)
696 miles
Also controls
and one-sixth Int. In Richmond-Washington Co
Hocking Valley,
HISTORY, AG.—In 1888 reorganized without foreclosure.
V. 88. p
294.
For 9-year financial statement to Dec. 31
1917, see V. 106, p.
1911.
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
Indiana, see below.
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 & Meadow River
RR. Co., the Kanawha Bridge v& Termlna 1 Co., the Logan & 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¬
chase or otherwise all the property of (a) Elkhorn & Beaver Valley Ry.
Co. (V. 99, p. 119); and (5) Chesapeake & Ohio Northern Ry. Co.
DIVS.—\'99-'08. '09. '10. "11. 1912. 1913. 1914. 1915. 1916. 1917-20.
cent„_/l yearly 3
4%
5
5
4A
3
None
2
See text
Dec. 1916 to June 1920, lncl., 4% p. a. (2% J. A D.). V. 106. p.2228.
er
STOCK.—Author, stock
was increased In 1916 to $155,000,000, of which
.200,000 was reserved for conversion of 4 An of 1910 and $50,240,000 for
aversion of 5s of 1916.
V. 102, p. 1162, 1625.
1st & 2nd pref., $3,200.
BONDS.—Abstract of oonsol. mtge. of 1939 In V. 49, p. 147; V 86, p.
1588; V. 92, p. 260; of Rlohmond A Alleghany mtges., In V. 51, p. 144.
The General mortgage of 1892 (Central Trust Co. and H. T. Wlokham,
trustees) Is for $70,000,000. but additional amounts at $25,000 per mile may
be issued for double-tracking.
See full abstraot of mortgage in V. 54, p.
644.
In July 1915 $31,131,000 was reserved to retire underlying bonds.
General Funding and Imp. mort., V. 87, p. 1663:
The "First Lien and Improvement" mortgage of 1911
V.88.P. 157.
Is limited to $125,000,000 bonds, bearing interest at rates not to exceed 5%.
It provides for
extensions and lmpts. and the retirement of certain equipment and other
obligations, Including the "General Funding and Improvement" bonds,
and for other corporate purposes.
Of entire $47,955,000 outstanding under
this mortgage in Jan.
1919, $45,920,000 had been pledged to secure the
$40,180,000 convertible 5s of 1916, due 1946 and no part held by public.
Collateral
Dec.
31
1918
for
First
Lien
and
Impt.
Mortgage Bonds.
%7,270,000-$13.268,800
Ches. & Ohio Ry. Co. General Funding A Impt. bonds
Hocking Valley Ry. Co. stock (out of $11,000,000 outstanding).
Elkhorn & Beaver Valley Ry. Co. stock A bonds (V. 99, p. 119)
Logan A Southern Ry. Co. stock
Miscellaneous
4,026,500
7,302,000
8,825,000
1,061,000
292.100
993,508
The First Lien A Improvement Mortgage bonds will thus be (1) a first lien,
either directly or through deposit of all stocks and bonds, upon 320.57 miles
railroad, viz.; (a) Directly on 29.34 miles of coal 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 A Beaver
Valley Ry.
In Kentucky, and on 260.7 miles of main line between Cincinnati and Chla
first
on
a11 st<?ck of O' A O.
Northern
Railway,
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-
but not on the above-mentioned collateral.
Of the authorized $37,200,000 convertible gold bonds of 1910, $31,390,000
Issued in that year.
They are redeemable after 1915 at 102 A.
and convertible at par, at the option of the holder. Into stock till Feb. 11921.
A
call 102
$765,000
1,896,0! >0
1,750.000
2.610.000
--
...
June'20-June
Julyt5
Nov
$85,000 s.a.
158,000 s.a
126,000 s.a
189,000 s.a*
15 '24
20-Jan. 15 '26
'26
June'20-Dec.
"20-May '27
Interest paid semi-annually aa Indicated by maturity
*P" and "K" at Commercial Trust Co., Philadelphia.
date; "N."
"O."'
Equipment trusts issued to Director-General for rolling stock allocated
V
Impt. outlays of $7,028,094;
equipment, $10,877,996; extensions, $.500,631; and from April 1 to Doc. 1
1918 advanced the company $7,050,000.
V. 107, p. 2187; v. 106, p. 2194.
to this company.
See article on page 3.
U. S RR. Adratn. to July 1 19LS sanctioned
Allocation of equipment during 1918
To Mar.
1
370.000. V.
.
by U. S. Govt. V. i09, p. 787.
"STANDARD RETURN," Ac.—See page 5.
"ADVANCES" AND
1919 the War Finance Corp. had loaned the company $2,-
108.
p.
972.
Federal Compensation, $13,888,418 (contract
Jan. 1 -Mar. 31
LATEST EARNS.—
GrosS
Net
executed).
.
1-Dec. 31
1918.
.§18,856,924 $16,099,938 $71,475,015 $73,720,796
2,993,332
2.199,304
10,798,542
19,577,795
1920.
Jan.
1919.
1919.
ANNUAL REPORT.—Report for cal. year 1918.
Calendar Years—
1918.
1917.
2,412
$7,899,452
42,998,223
3,746,119
V. 109,
1916.
p.
769, 785.
1915.
2,373
$5,713,463
35,198,358
2,669,020
_
2,379
$6,435,025
Average miles oper
Passenger earnings
Freight
Express, mail, &c
2,479
$13,629,892
55,720,373
4,370,532
Total earnings
Operating expenses
$73,720,797 $54,643,794 $49,834,312 $43,580,841
54,217.347
38,105,806
32,698,676
28,998,626
Net
39,888.933
3,510,354
$19,503,450 $16,537,988 $17,135,636 $14,582,215
earnings—
Standard return
a$ 13,226,983
;
-
550,683
9,586
$14,209,587 $18,095,504 $17,686,319
Interest on debt
$8,730,769
$8,589,795
$8,382,833
Taxes (Federal)
358,184
2,439,331
1,636,604
Miscellaneous charges..
283,391
Dividends
(4%)2,511,264 (4)2,511,264 (2)1,255,632
$14,591,801
$8,054,095
1,445,685
$6,411,250
$5,092,021
Other income (net)
982,604
1,557,516
Total income
Balance, surplus
a
C. A O. Ry. Co. of Ind.—Stock, $5,998,800; bonds,
Ches. & Ohio Northern Ry. stock
Mature in Installments.
Outstanding.
Date.
680
Denton. Ky., to Lexington
Big Sandy Jot. to Elkhorn City,
Lines leased—
(V. 106, p. 1911.)
Principal Car Trusts Gold (Denom. $1,000 Each)1918
Branohes In Va. and W. Va
with
do
Nat City Bk, N Y
New Y'ork Trust Co, N Y
.
Branohes in Kentucky
do
do
1946
D
&
J
4 e
1 1945
Aug 1 1945
1
do
do
mtge.
Oinoin
1.000
B'way, N Y
1938
1
M
4g
1,000,000
1J.000.000
.
Office 61
1
Oot
Oot I
4
97,000
51.000
50.000
1917
...
.
Guaranteed Jointly and severally with Cleveland
1,000
1,000
...
West Poca Fuel Co. coupon notes due $500,000 yrly
Riohmoud-Washlngton Co (one-sixth Interest)..
a
450.500
...
995)—x
Extension No l„x
Extension No 2_x
do
do
(V 84,
820.000
1,000
1895
...
1,000
1888
$317,000)gu p&LCe.zc*
2d M Inc n-c (C&O owns $406,000) not guar-zc*
Ches A Ohio Nor Ky—See statement below
Standard return
$2,325,979
as
$4,555,114
tentatively certified to by Inter-State Commerce
Commission.
OFFICERS.—Geo. W. Stevens, Pres.; C. E. Graham, F. H. Davis and
B. Wall, V.-Pres.; H. T. Wickham, V.-Pres. & Gen. Counsel; F. M.
Whitaker, V.-P. in charge of traffic; A. Trevvett, Sec. A Treas. V. 109,
p. 172, 769, 785; V. 110, p. 764, 969).
G.
★ CHESAPEAKE & OHIO NORTHERN RY—See Chesapeake & Ohio
★ CHESAPEAKE & OHIO RY. OF INDIANA.—Owns Cincinnati, Ohio,
Indiana-Illinois State line, 260.7 miles; trackage rights, 23.7 m.; Total
to
oper.,
284.4 miles.
First 5s, $7,270,000 outstanding, Dec. 3
1917, all
See C. A O. Ry. above.
pledged under O. & O. First Lien A Impt. mtge.
—(V.
106, p. 188; V. 107. p. 1003.)
& LANCASTER RR.—Owns Cheraw
S. C.f to
Pageland and Crowburk, 38 m.
First Mtge. bonds ($750,000) Issuable at
$5,000 per mile; outstanding, $186,000.
There were outstanding Dec. 31
1917 $67,000 2d 6s due Jan. 15 1918.
Stock, $500,000, a majority being
acquired In June 1909 by the Seaboard Air Line Ry; par, $25.
For year
ending Dec. 31 1918, gross, $75,640; net, $20,748; charges. $9,828; Dal.,
$10,920.
Treas., R. L. Nutt, 24 Broad St., N. Y.—(V. 89. p. 40.)
A CHESTERFIELD
were
V. 90, p. 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, (6) thereafter at $80
per share up to and including April 1 1923, (c) then at $90 per share up to
and lncl. April 1 1926. and (a) at $100 per share up to and lncl. April 1936,
with adjustment of dividends and Interest.
The entire Issue, but not a
Sart thereof. Is to be redeemable at option of company on any interest
ate up to and including April 1 1929 at 105% ana Interest, and there¬
after at 100% and int., upon 60 days' notice; in case of redemption during
the conversion period the privilege of conversion shall 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. 6% bonds, above described,
A proportionate amount of the security may be withdrawn as bonds are
convertible into stock.
Greenbrier Ry. 4s V. 72. p. 626; see also V. 71,
p. 554.
S<Zldv 48 of 1904» v- 79-
602; V. 79. p. 915
P- 917; V. 82. p. 297; V. 87. p. 225. 414,
668.
Coal River 4s. V. 80. p. 2219; V. 83. p. 693: V. 89. p. 720; V. 98, p. 452.
Paint Creek Br. 4s $211,000 reserved tor extensions.
V. 81. p. 974, 910.
Raleigh A Southwestern 4s, V. 84. p. 1114: V. 89. p. 720.
Guaranty. V. 81,
p.
★ CHICAGO
&
ALTON
RR.—ROAD.—Chicago
to
St.
Louis,
Kansas
City, Ac., In all 998 miles.
Miles.
Road owned—
Road owned—
Miles.
280 Mexico. Mo., to Cedar City, Mo._ 50
51 Roodhouse, 111., to Kan. C., Mo_-251
Barnett to Titus
56 Bloomlngton to Wann, via Jack¬
sonville,
Godfrey and
Coal City Line. Ill
Upper
27
Alton (all In Illinois)
158
Dwight, 111., to Washington and
Laoon,
111
81 Trackage to Peoria, 111., Ac
37
lies to Murrayvllle, 111
34 Leases Rutland Toluoa A North. 27
Chicago to East St. Louis, 111
Sherman, 111., to Grove, 111
-
-—
Total owned and operated Dec. 1 1918 (260 m. double tracked)
V. 103, p. 60.
Louisville A Jeffersonville Bridge.—See separate statement for that co.
1418.
★ CHESTNUT HILL RR.—Owns from Germantown to Chestnut Hill, Pa.,
Released in 1896 to Phila. & Read. Ry., the rental being reduced
12% to 6% on stock, the latter being increased in June 1902 from
$120,650 to $195,650.
Reading in 1917 owned $75,000 stock.—(V. 75,
p. 76).
4 miles.
from
Also operates,
1,051
Jointly with Clev. Cln. Ch. A St. L., from Wann to East
St. Louis, 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 1st A ref. M. bonds.
V. 81, p. 1099;
V. 83, p.752.
1291; V. 84, p. 451; V. 85, p. 159.
The Rutland Toluca A Northern RR. is leased for 999 years and
1171
guaranteed prin. and Int.
V. 91, p. 1024; V. 93, p. 408.
Its bonds
AT A V
1O90
*"
i
:
★Government
i
APrtvate
RAILWAY STOCKS AND BONDS
Contract.
Miles
Date
Par
Amount
Rats
When
Last Dividend
Road
RAILROAD COMPANIES
{For abbreviations, Ac., see notes on first page]
33
Control.
Bonds
Value
Outstanding
%
Payable
and Maturity
Places
Whrr*
tnd
Dividends are
Payable
S
261
1.000
1,000
50
100
1910
38
Ches & 0 Ry of !nd—1st M $30,000,000 red par—Bax
Chesterfield & Lancaster—1st M $750,000 g—Col.xo*
Chestnut Hill RR—Stook rental PAR Ry
1905
4
Chicago & Alton RR—Common stock.,
8
5
4
A
June 1 1922
165
6 g
5 sr
A
July 1 1932
237,500
1,750.000
1,500,000
329,000
4^
A
7
F
A
Ac
225.000
4 g
A
A
1.000
500 Ac
73.000
100
102
37
101
27
100
1910
100
65,247.000
50.451.000
33,970.000
5.000
229.400
18,294.000
1,000Ac
1,000 Ac
1.000
100 Ac
1.000 Ac
Since,
None
None
None
2
securing the 3s of 1899 will provide funds for lm-
fjrovements and extensions. of Bonds In excess of $40,000,000 were to be
ssuable thereunder on vote
two-thirds of stockholders for extensions of
exceeding $20,000 per mile, to fund
obligations and for future betterments not to exceed
$5,000,000, at not over $1,000,000 per annum, from Jan. 1 1900.
V. 69.
p. 178.
V. 69. p. 26.129, 541; V. 70, p. 429, 739. 995; V. 79, p. 211. 907:
V. 84, p.480. 507.626, 803, 809; V. 88. p. 99.293.
Of the Issue of $20,000,000 of 6% Gen. M. gold bonds. $10,834,000 were
outstanding Dec. 31 1918. $8,417,000 being owned by the Union Pacific
Railroad.
Of the bonds, $4,100,000 were reserved to retire $3,766,600
.
Equipment trusts issued to Director-General for rolling stock allocated
this company.
See article on page 3Jan. l-Mar. 31
Jan. l-Dcc. 31
RESULTS.—
1920.
1919.
1919.
1918.
Gross
$6,787,146 $5,755,577 $25,272,334 $24,358,661
Net
610,647
419,692
1,718,623
3,681,232
to
^
—
—For cal. year 1918, V. 109, p. 1360.
—Years ending Dec. 31
REPORT
Operating expenses
Net earnings
Net income
Standard
...
$5,391,711
$5,597,484
$5,283,025
$5,566,375
1,186,831
697,217
3,403,949
855,765
605,297
3,376,963
250,024
$3,681,232
250.024
162,682
Hire of equipment
Taxes, &c
Interest
Divs.
bonds, Ac
guar, stocks—
on
on
$5,712,011
$5,826,261
3,495,362
250.024
105,166
Discounts written off—
A
4
J
A
4ch
'20 2%
NY,
1 1958
4
M
A
4
F
A
Feb
4
MAN
Boston
A
Chicago
New York and Boston
do
do
fuly 1 1949
7uly 1 1949
lept 1 1921
do
do
do
do
1 1922
do
do
May 1 1927
do
do
for which bonds are reserved as below
noted, will be a first lien on the entire mileage owned, aggregating 8.491
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; Y. 96. p. 789), as follows:
To retire outstanding bonds (incl. $17,428,300 in sink. fds.)..$177,000,000
Issuable for reimbursing the treasury for outlays already made
by It for betterments and additions ($22,000,000 sold)
45,000,000
Issuable for additions, Improvements and betterments of and
to the mortgaged property (of whloh $13,724,000 sold)....
78,000,000
In Jan. 1909 $20,000,000 general 4s were sold, of whloh $13,724,000 were
used to purchase $23,657,000 Colorado & Southern com. stock.
V. 88. p.
685: V. 92, p. 525; V. 96, p. 789; V. 98, p. 999. 1315; V. 101, p. 47; V. 105.
p. 605.
The Nebraska Extension bonds of 1887 are Issued at $20,000 per mile for
single and $10,000 per mile for seoond track on not exoeeding 1,500 miles.
Now a direct first lien.
Abstract of deed, V. 45, p. 441; V. 85, p. 721.
FEDERAL
COMPENSATION.—$33,390,080
control (contract executed).—V. 107, p. 1747;
Advances from Fed. RR. Admin,
as
31 1919 aggregated $10,650,000; in
loaned the company $4,000,000.
loans
March
yearly
during
Federal
Y. 108, 2535.
or
on
1919
rental account to Jan.
the War Finance Corp.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Jan.
EARNINGS.—
Gross
1 -Feb.
Net
29
Jan.
1919.
1920.
REPORT.—For 1918. V. 108, p. 2522, 2535.
xl918.
Calendar Years—
Gross earnings
Interest
income
on
1917.
1916.
-
income
Total
31——
1918.
—.$144,172,769 $122,342,707 $109,191,204
$23,991,477
$35,280,756
$39,098,988
2,166,949
3,133,604
2,991,317
Net. after taxes
Other
l-Dcc.
1919.
$22,126,426 $154011,437 $144172,769
4,682i362
33,518,475
32,105,153
...$29,786,962
7,786,994
$26,158,426
$6,750,463
2,618,189
841,893
10,265,851
$38,414,360
$6,790,177
2,218,150
1,397,031
8,057,964
$42,090,304
$6,960,493
2,135,086
1,864,287
8,864,595
2,400,000
—(8%)8,867,128(18)19,951038
(8)8,807,128
funded debt
...
Rents, &c_
Sinking fund
Additions. &c
Fund for taxes not due
Misc. approp. of income
Dividends _J——
6,000,000
xdef$3,185,097
None.
$4,998,715
This is the combined company and Federal operating statement.
On
the basis of the standard (rental) return plus non-operating income and less
charges dividends and $10,265,851 for additions and betterment the year
1918 shows a surplus of $2,817,628.—V. 108, p. 2535.
OFFICERS.—Hale Holden, Pres.: C. G. Burnham, Executive V.-Pres.;
E. Perkins, V.-Pres.; T. S. Howldan, V.-Pres.,
Sec. & Treas.; C. E
Spens, Traffic V.-Pres.; O. M. Spencer, Gen. Counsel; L. B. Allen, Gen.
Mgr., of the lines East; G. W. Holdredge, Gen. Mgr. of the lines West.
—(V. 110, p. 359, 764, 871, 969.)
■,
C.
a3.178.315
$3,381,421
return
Gross income
3H
J
do
do
do
Vortbern Tr Co, Chloairo
1H
x
$24,358,662 $20,525,689 $17,781,278 $19,340,163
20,677,429
15,133,977
12,498,253
13,628,152
Gross earnings—
O—M 25 Mar 25
MAS
Balance, surplus
1917.
Ins.Ao.Phlla
Tr, N Y; Olev
miles.
Jane 30 Year
1916.
1917.
1918.
do
Penn Co for
Bankers
BONDS.—General mortgage bonds ($300,000,000 auth. Issue, Interest not
3,931 miles of road,and on retirement
_
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. 1565. 1095; V. 95. p. 749; V. 96. p. 789; V. 98, p. 838, 1315.
A Feb 1 1920
1 193"
O Ont
4
;:-
do
do
1921
1
do
Broadway, New York
to exceed 5%)are a first lien on about
of the outstanding underlying bonds,
not over 500 miles main track, at not
line rental
First National Bank,N Y
May 1 '20 1^
Ohecks mailed
do
April 1920 IU
Q—J
8
do
2%
1920
D To Dec
Q—F
7
15 '12.
1 1949
O Oct 1
A
6
110839100
Ac
1 000
BONDS.—First lien (old Ry.) 3 Hs of 1900, V. 71. p. 1021; V. 82, p. 451.
leased
do
1
Ao
1,000 Ac
1916
4
•Iheoks mailed
July 1 1950
1910
6
A
A
iioooAc
—
2
A
Oct
1912
*06. *07. '08. *09. '10. *11. *12.
1
4
2.
None
2
4
4
4
4
2
None
The Railroad (old) mtge.
F
Office, 71 B'way; N Y
Columbia Trust Co, NY
Treasurer's office, Fhila
11955
June 4 1920.1H
A Feb 15 '10, 2%
Jan 16 1911,2%
A
1,000
STOCK.—The cumulative 4% participating and prior lien stook Is entl*
tied, In addition to prior right to accumulative dividends at the rate of 4%
per annum, to receive additional dividends equal to the rate of dividend®
declared on the common stock of the consolidated company.
In Aug. 1907
the Toledo St. Louis A Western purchased from the Rock Island the con¬
trolling interest, viz., $14,420,000 com. and $6,480,000 pref. stock, and
deposited the same under its collateral trust bonds,on which interest was
defaulted Aug. 11914. V. 88, p. 468. 529.792; V. 99. p. 341.408.1051.1210
Union Pac. owned on Dec. 31 1918 $10,343,100 pref. stk. V. 84. p. 1484:
V. 95
p. 361.
Prior Hen participating pref...
A Aug
A
3 g
3 H g
5
1899
1900
1907
ohanglngltsnaraetotheC. A A. Railroad.
V. 82, p. 160; V. 70. p. 686. 995
"Standard Return" under the Government contract, $3,181,342, subject
to change.
V. 107, p. 1286; V. 109, p. 1360.
See page 5.
Above contract not signed to Oct. 1919.
V. 109, p. 1360.
__
,7 July 1 1930
A
Q—M
Ian
ORGANIZATION.—The (old) railway company was organized In April
1900 and purohased substantially all the stook of the Chic. A Alton Railroad
In 1906 per plan V. 82, p. 451, the Railway
stock....——
F
A
The two were consolidated
DIVIDENDS.—
T
8
100
100
889
943
Chicago Burlington & Quincy—Stock..
8.490
1908
Gen mtge $300,000,000 lawful money—Ce.zo*Ar*
Illinois Dlv first mortgage"! $85,000,000 currency . L 1.647 J1899
(V. 83, p. 025; V. 69, p. 283) /
(1899
redeem at 105-- NBz
1881
Sinking fund 4s (So W Dlv) drawn at 100
zo* Ar
1881
370
Denver Erten (coll tr) bonds s f drawn at lOO.NBzo*
1.471
1887
Nebraska Ext $20,000 p m(s f not drawn)-NB.zc#Ar
Preferred
195.650
19.542,800
19.544.000
868,700
45,350.000
22.000.000
750,000
16,834.000
100
Louisiana A Missouri guaranteed preferred stock..
Rutland Tol A No 1st M g gu red since Oct* 15-NCc*
Common stock
186.000
100
Preferred stock 4% non-cumulative
4% cumulative participating and prior lien stock..
Chic & Alton RR (old) ref M g (see text) IC.xc" Ar*
First lien (old Ry) M subjeot to call at par.FxoAr
Debentures, subject to oall.
;
Cex(Equally
Gen M $20,000,000 g red text-Usmxc*&r*l secured
O A A EqTr Ser G gu red 101 due $72,000 an.PeP.xc*
do
Ser *16 call 102 $47,500 due JAD QCl.xxx
Kansas City St Louis & C preferred stock guar
Jollet & Chicago 7% stook perpetual guar by C & A
5
5g
7,270.000
106,550
1,068.894
614,168
3,290,095
250,024
108,045
★ CHICAGO & EASTERN ILLINOIS RR.—Operates road from Chicago.
111., to Evansvllle, Ind.; also Chicago to St. Louis, leaving main line at
Joppa, III., reaching various
Woodland Junction; and lines to Thebes and
bituminous coal fields.
Balance,
a
sur. or
def.$47,092 sur.$315,644sur.$495,035
def—def$469,131
Standard return represents the annual average railway
based
operating in¬
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.
come
on
OFFICERS.—-Chairman
Exec.
Comm.,
R.
S.
Lovett
Pres.,
Bierd; V.-P., Roberts Walker; Sec., Jas. Williams; Treas., H. E. R.
W.
G.
Wood.
DIRECTORS.—J. J. Mitchell, Joy Morton,
W. G. Bierd,
Samuel
Irnmll, Roberts Walker, J. H. Hammond, James Steuart MacKie, R. S.
Lovett, Edwin G. Merrill and V. D. Skipworth.—(V. 110, p. 969, 1848).
★ CHICAGO BURLINGTON & QUINCY RR. (See Map).—ROAD —
Operates a great system of roads extending from Chicago westerly, reaching
St. Paul and Minneapolis, Minn.; St. Louis and Kansas Cityi Mo.; Omaha,
Neb.; Denver, Col.; Cheyenne, Wyo*; Black Hills, S. D.f and Billings,
Mont., viz.:
1
i
Lines east of Missouri River
4.391
Lines westof Missouri River
4.62<*'Totalmiles
In Deo.
stock
(Lines leased
-
oper.
354
Dec.31 1918-9.373
1908 $23,657,500 of the $31,000,000 Colorado A Southern com
(practically
a
controlling interest) was acquired, affording connec¬
V. 87, p. 1603; V. 88, p
157, 685.
Lines Owned in Fee—
'
Miles.
--269
Danville, 111., to Villa Grove, Jet. 42
Momence Jet., 111., to Brazil, Ind. 130
Findley Jet., 111., to Thebes, 111—194
Joppa Jet. to Joppa, 111
17
Cissna Jet. to Cissna Park, 111— 11
Percy Jet. to La Crosse, Ind
46
Milford Jet ..111., to Freeland, Ind 11
Woodland, 111., to Pana, 111
123
Dolton to Evansvllle, Ind
Branches to Coal Mines
14
A
at
35
-
Other
4
17
Other
Trackage, &c.—
Pana, 111., to Granite City
76
Chicago to Dolton ,Ch. A W. Ind- 17
44
Other lines
Total Dec. 31 1918
2d track
Also leases
other oompaDles
to
Rockville extension.
HISTORY, Ac.—The St. Louis & San Francisco in the
1.131
339
17 miles.
reorganization of
relinquished
the stock it owned.
V. 102. p. 896; V. 104, p. 1387,2235.
O.&E. I. owns $1,000,000 stock Chicago & Western Indiana.
On Mav 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.
Foreclosure sale of C. & E. 111. RR. set for June 15 1920. V. 105, p. 1897;
1910
tions with the Gulf of Mexico.
Owns jointly with the NashvlUe Chattanooga A 8t. Louis the Paducab
Illinois RR. (which owns a double-track bridge over the Ohio River
38
-
Rossville Jet., 111., to Sidell Jet.,
111..
Evansvllle Belt
41
Rossville Jet. to Judyville, Ind—
Vernon Jet., Ind., to Mt.
Vernon, Ind
Mt.
system, see V. ,05. p. 14,8.
also
separate statement below.
Metropolis. III., and has built from Metropolis to Paducah, Ky., 14 m.)
and Jointly guarantees its bonds.
See that company below.
Certificates.—'The $8,000,000 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.
ORGANIZATION, Ac.—A consolidation In July 1875; since merged
Chicago Burlington A Northern, Kansas City St. Joseph A Council Bluffs,
Hannibal A St. Joseph, Burlington A Missouri, Ac., Ac.
In 1901 $107,013,500 of the $110,839,100 stock was exchanged for the
curities had been
Joint 20-year 4% the stook the trust, on the basis of $200 in Pacific, for $100
Gt. Northern and Northern bonds secured
ty the deposit of bonds of In
stock.
Northern
'02 to '06. *07. *08 to Mar. '20.
7 yearly. 7H
8 yrly. (quar.)
6
Sept. '17, 10%
See V. 72. p. 871; V. 73, p. 293, and bonds under Great
DIVIDENDS
—
f *98.
5H
Regular %
Extra %—
Extra dividend
'99 to Sept. '01.
6 yearly.
(
in Sept. 1917, 10%.
V. 105,
p.
715.
Receivers'
DEFAULTS.—In June 1915, under order of Court, all Int. on equip, se¬
paid promptly and their principal extended for three years
hut on all other bonds the interest due March 311915 and subsequently was
in default.
On Oct. 1 1916 all coupons due and overdue on the following
Issues were
paid and subsequent Interest oh the same issues has been regu¬
other coupons still in default see table
2225; V. 106, p. 85.)
larly met to and fncl. Oct. 1 '19 (as to
at head of page).
(V. 104, p. 1387,
Danville & Grape
Creek 1st 6s,
ICh. A E. 111. First Oonsol. 0s.
Ev. T. H. A Ch. income 6s.
JEv. A T. H. RR. First Oonsol. 6«,
Ch. A E. 111. First Extension 6s,
| Evansvllle Belt Ry. First 5s.
CO
ifc*
w
§
►
Kj
W
H
O
O
W
U)
>
O
W
O
a
C0
-<3
O
t4
may, 1920.j
*%££&*
APrlvate
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rale
When
Last Dividend
[For abbreviations, Ac., see notes on first pageJ
Road
Bonds
Value
Outstanding
%
Payable
and Maturity
Chicago & Eastern Illinois—Com stock $15,000,000
Preferred stock 6% non-cum ($15,000,000)-Danville A Grape Creek RR—1st M assumed—zo*
First mortgage extension
xo*
Consolidated mortgage (for $5,948,000) gold-Ce.zo*
General Consol and IstM $30,000,000
Ce.zo*Ar
Ch A Ind Coal By—1st M $25,000 p m ass'd_Mp.zo*
Evansv Ille Terre Haute & Chicago Income mortgage
$100
100
9
14
130
1,024
168
49
Receivers' certs $6,000,000, Y 104, p 2640
Refund A imp M (text) g red at 10234— Ba.xo*Ar*
Pur money 1st lien Coal M (foreclosed) g_Ce.xo*&*
Evansv A T H 1st consoUdated M gold——F.xo*
Mount Vernon Branoh mortgage gold
F.xo*
Sullivan Co Coal Branoh mortgage gold—F.xo*
First General mtge lor $7,000,000 gold
F.xo*
825
1880
1881
1884
1887
1885
1881
1916
1905
1,000
1,000
1,000
1.000 Ac
1,000
1,000
1,000 Ac
1.000
1912
146
25
1883
30
1890
1892
1911
1910
1907
201
201
Refunding mortgage $1,284,000 red par
Nx
EvansvHle Belt By first mortgage gold——
x
CAE I Eq bds Ser G due $124,000 s-a ext—...Bax
do
Series H due $166,000 or $165,000 sa ext.x
Chicago & Erie—1st M g lnt guar till prln paid.Ce.zc*
Income bonds for $10,000,000 5% non-oum
Nz
Chicago & Atlantic Terminal IstMg ext 1918
z
Chicago & Grand Trunk—See Grand Trunk West Ry
1,000 &c
1.000
1,000
1,000
1,000
50 Ac
1,000
1,000
1,000
1,000
1.000 Ac
1881
.
4
1912
1890
1890
249
249
1888
1496
1496
100
100
Chicago Great Western-—Common stock $46,000,000
Pre? (prln. A div) 4% cum red $50,000,000 auth1035
First mortgage gold $75,000,000--—-- G.xo* Ar*
z
Minneapolis Terminal mortgage gold assumed
Mason Oity A Fort Dodge—See that company
Chicago A Great Western—See Bait & O Chicago Ter RR
Chicago Hammond & Western—See Indiana Harbor Belt B
Chic Hgts Term Transf— 1st M $1,000,000 g red 105 sfx
"26
Chicago A 111 /midland—1st M $3,000,000 gold—x
Chicago & III W—Gen(now lst)M g gu red par.CC.xc*
Chicago & Indiana Coal—See Chicago & Eastern 111
Chic lnd A So—See New York Central BB.
Payment of accumulated and current Interest resu med
a
b All except $98,000 owned by Erie BR Co
Extended in 1918 at same rate till 1928.
See
x
&c
1909
1900
$.£ Afr
1,000
1911
1913
100 Ac
1,000
1.000
1907
a «
of Oe 1.11916
$7,201,400
11,063.500
*
Protective Committees for Bonds, Stock, Ac.
Committee toe Bef. 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. S.
Mtge. A Trust Co., depositary.
Majority of bonds deposited including
oyer 65% of Gen. Consol. A 1st 5s.
V. 96, p. 1555: V. 98, p. 999; V. 99,
p. 47; V. 100. p. 981,1671, 2166; V. 101. p. 447,1092,1885; V. 104, p.
Committee for General Consol, & Is* Mortgwe 5s.—Henry Evans (Obair¬
man)
A. F. Halsted,
Sec., 62 Cedar St.. N. Y.
Guaranty Trust Co..
depositary.
V. 101. p. 447. 129, 1972.
Committee for St, L. & ts. F. Trust Certifs. for Com. and Pref. Stocks and
C. A E. I. Stock.—Alvin W. Krech
(Chairman), Richard R. Hunter,
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 1st 59.—James B. Mabon (Chairman).
Charles E. Slgler, Sec.; Centred Trust Co., N. Y., depositary.
V. 98. p.
1992.
Over 90% of bonds deposited.
V. 99. p. 195, 269. 1299, 1598;
,
6
M
A
Apr
May
6
97,000
91,000
2,736,000
J
A
Deo
1913 1 H
N Y, Central UnTr(text)
1920a
N Y, Mech A Metals Bk
1931a
M
A
July 1 1941
Nov 1 1940a
N Y, CentUnTrust (text)
May 1915 coup not paid
July 1914 coup not paid
Farmers' L A Tr, N Y
Eq Tr Go. N Y, see text
July 1914 coup not paid
Feb 1915 coup not paid
N Y, Bankers Tr (text)
April 1915 coup not paid
April 1915 coup not paid
AprU 1915 coup not paid
July 1915 coup not paid
N Y, Columbia Tr (text)
A
A
Oct 1920
See text
M
A
Sept'20-Sept' 25
See text
M
A
A
A
May 1 1982
Oct
11982
Erie Railroad, New York
do
do
J
6 g
&
July 1
A
A
July 15 '19 1% J P Morgan A Co. N Y
do
do
Sept 11959
A
Jan
A
A
Oct
1934a
21,443,000
5
M
A
Nov
See text
150.000
5
J
A
Jan
1937
1936
May
July
July
6
M
A
6
6.000,000
18,019.000
5,167,000
3.000,000
375.000
450,000
3,175,000
1,284,000
142,000
124,000
1,820.000
12.000,000
bl0.000.000
300.000
J
J
&
4 g
5 g
A
Feb
5g
5 g
5g
5
5 g
m
5 g
5
5
April 1918 and in Jan. 1919 $125 (holders of deposited bonds $100).
V. 108, p. 77; V. 106, p. 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% cumul. 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 company upon surrender of their certificates.—V. 110, p. 464.
Committee for Evansville A T. H. 1st Gen. 5s.—Frederick J. Lisman (Chair¬
man); Secretary, Graham Adams. 30 Broad St.; Farmers' Loan A Tr. Co.,
depositary. Majority deposited. V. 100, p. 1256, 1437, 1509; V. 101,p.47.
STOCK.—In addition to outstanding stock, $6,421,700 common was on
31 1917
held
In
trust
by
Equitable Trust Co. as a part
of
"trust assets" under agreement dated July 1 1905, for improvements, acqui¬
Dec
sitions or refunding, and $1,128,600 was in treasury (mostly
V. 85. p. 1001; V. 92, p. 1374, 1435; V. 93. p. 229, 588, 1393.
pledged).
BONDS, ETC.—General Consol. and First Mtae. of 1887 (trustee, Oent.
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 4s of 1905, v. 80. p. 1424; V. 81, p. 1438;
V. 88,
p. 451; V. 90, p. 558; V. 92, p. 117; V. 93, p. 588: V. 94, p. 487.
In
Nov. 1919, $7,793,000 Ref. A Impt. 4s had been deposited with TJ. S. Mtge.
A Tr. Co. (Platten committee.)
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.
GENERAL FINANCES.—The U. 8. Railroad Administration In 1918.
sanctioned improvement outlays of $2,185,488; equipment, $2,123,209, and
from April 1 to Dec. 1 advanced the road $537,000.
V. 107, p. 2156, 1344
106,
p.
1920a
1917
g
45.210.513
43.926.602 See text J
M
4 g
25.383.000
3 H e J
500,000
1955
1942
July
Apr
Apr
Apr
6 g
11921a
1 1923
1 1930
1 1942
1 1950
8 g
under order
do
1928x
Jan
6 g
562.500
2,500,000
820.000
do
Bank of Montreal, N Y
Northern Trust Co, Chic
July 1 1947
11931
Dec 1 1938
of Court
dated Se pt 25
1916 and
continued since.
BONDS.—First Mortgage covers 249 miles of road, the contract with the
Chicago A Western Indiana, $1,000,000 of that company's stock and
$240,000 stock of Chicago Belt Ry.
Interest on income bonds is paid
regularly; Erie RR. owns all except $98,000 of the $10,000,000.
See
abstracts. V. 51, p. 911; V. 61, p. 750.
2194.
RETURN as certified by I.-S. C. Comm.. $2,946,001
The compensation committee recommended $4,408,003, but this amount
was reduced by the Director-General of Railroads to $3,280,000.
Judge
Carpenter on Nov. 5 1919 ordered the receiver to appeal to the Board of
Review for additional compensation.
V. 108, p. 2325; V. 109, p. 1700,1891.
Jan.
1919.
—Jan. 1 -Mar. 31
EARNINGS.—
1919.
1920.
Gross
Net
1-Dec.
31
1918.
-.$2,654,947 $2,436,162 $10,401,398 $11,039,823
228,760
273,487
1,745,671
1,298,700
★ CHICAGO GREAT WESTERN RR.—Forms the "Corn Belt" route,
radiating from Oelweln, Iowa, northerly to St. Paul, easterly to Chicago
and southerly and westerly to Kansas City and Omaha.
Lines owned (total, 757 miles). Miles.
Operated under agreement.
Miles.
400 Mason CyA Ft.Dodge,383 m.,viz.:
260
Oelweln, la., to Goun'l Bl'fls.
290
Bee Creek to Beverly
Hayfleld.Mlnn.,to Clarion.Ia.
100
23
Branches to Lehigh, Ac.....
Sumner to Waverly.
22
15
MantorvUIe, Ac., branches..
21
Trackage to So. Omaha....
Leavenworth to Kansas City
1 Wls.Mlnn.APao.RR.,277 miles,
Mankato to Red Wing, Minn.
96
Trackage (total, 78 miles)—
Red Wing to Osage, la
St. Paul to Minneapolis
11*
11
Winona to Simpson, Minn
54
Chicago Terminals.
10
Branoh to Clay Banks, Mian.
Galena Jot., 111., to Dubuque, la. 14
3
Chicago to St. Paul—
Oelweln to St. Joseph
...
Des Moines Terminals..
Leavenworth to Kansas City..
......
depositary; 75% deposited.
The coal property was sold under foreclosure
to the committee on Dec. 18 and 19 1917 tor $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
V.
Where Interest and
Dividends are Payable
Places
Erie RR
Foreclosure suits pending under "General Consol. A 1st M„" Ref. A
Impt. M., Chic. A ind. Coal M. and Ev. A T. H. Gen. Mtge.
V. 99, p.
lid; V 100, p 228. 473. 981, 1167, 1436; V. 101. d. 1627; V. 102. p. 1792.
The O. A E. I. coal mtge. has been foreclosed; see below "committees."
in
35
Control.
St. Joseph, Mo., to Bee Creek...
Other trackage...
Goodhue to Belle Cheater....
3
26
9
6
Total mileage Dec 31 1919—1,496
5
The entire
capital stock of the Mason City A Fort Dodge RR. Co. is
owned and the road operated under agreement.
In 1910 acquired entire
stock of Leavenworth (Kan.) Term. Ry. A 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
Western.
ORGANIZATION.—Inoorp. In Illinois Aug. 201909 as successor per plan
1497, of railway acquired at Judicial sale. V. 89, p. 528, 592.
V. 88, p.
Federal
tract
Compensation.—$2,953,450 yearly during Federal contrpl (con¬
executed).
Y. 108,
p.
783, 1936,
STOCK.—The pref. stock
($50,000,000 auth. issue)
was entitled
to
uon-oum. dlvs. at 4% per ann. to June 30 1914 and to cum. divs. thereafter
at that rate ahead of the com. stock, and also to a preference as to principal
and accrued dividends in case of dissolution or liquidation.
DIVIDENDS.—Pref. stock. No. 1. Dec. 1 1915. 1%: May 1 and Oct. 2
1916, 1 %; Apr. 1917, 1%; none then till Aug. 15
July 1919. 1%. V. ld7, p. 2097; V. 108. p. 2629.
1918, paid 1%; Jan. and
$35,930,000 of 1st M. 4s of 1909 had been
issued. $25,383,000 being held by the public and $10,547,000 by the co.
Holders of all except $11,000 of the $6,232,000 Wisconsin Minnesota A
BONDS.—On Dec. 31 1918
accepted in exchange per $1,000 bond
1st M. 4s and $500 In pref. stock.
V,. 97, p. 49.
Pacific bonds
$500 each in O. G. W.
523, 728. 1203. 1217,
Equipment trusts issued to Director-General for rolling stock allocated
See article on page 3.
to this company.
Jan. 1 -Mar. 311919.
EARNINGS.—
Gross
Net
Jan. 1-Dec. 31
1919.
1920.
...
—
$5,818,118
500,908
1918.
$4,844,428 $22,128,189 $19,116,924
490,240
2,823,026
1,333,827
REPORT,
v/xvx.—The report
for cal. year 1919, V. 110, p. 1741, shows:
(1) Corp. Income Account (Based on Federal Compensation).
M
1919
1919.
1918*
1918.
Stand. return_$2,953,450 $2,953,450 Int.,rents,Ac.Sl,587,302 $1,591,653
Oth. inc. (net) df.102,478
df.54,042 Pref. divs. (1%)439,266 (2)878,532
STANDARD
Equipment trusts issued to Director-General for rolling stock allocated
to
this company.
See article on pabe 3.
The Board of Referees, in Mar. 1920,
$4,450,000.
Jan.
EARNINGS.—
Net
—
—
1 -Mar. 31
Jan.
REPORT.—For calendawyear 1918, in V. 108, p.
xl918.
1917.
Other income..
Gross income........
Interest paid.
Accrued interest not
Balance
x
31
2325.
1916.
1915.
$26,753,092 $21,018,985 $16,884,697 $14,871,495
$1,610,190
$3,786,851
$2,979,601
$2,210,720
1,017.943
1,791,074
1,446,587
650,910
Net, after taxes
Rents, Ac
1-Dec.
1920.
1919.
1919.
1918.
—$7,301,144 $5,626,610 $24,795,180 $26,753,092
1,100,807 clef .475.181
799,180
266,531
Calendar Years—
Gross earnings
$2,628,133
$967,831
1,017,429
paid
3.310,077
$5,577,925
$1,020,360
862,679
2.356,793
$4,426,188
$1,045,602
826,296
2,384,795
"$2,861,630
$1,042,418
777.052
Not stated |
def$2.667,204sur$l338,092 sur$169,494
V. 108,
Combined income statement Receivers and Federal.
p.
2325.
OFFICERS.—Pres., T. D. Heed, Chicago; V.-P., W. H. Lyford, Chi¬
V.-P., Alvin W. Krech, N. Y.; Sec.. F. R. Austin. Chicago: Treas..
Reeves, Chicago; Receiver, W. J. Jackson, Chicago.—(V. 110,
p. 464, 969, 1186.)
★ CHICAGO & ERIE RR.—(Map Erie RR.)—Owns from Marlon, Ohio,
Hammond, lnd., 249 miles, and leases trackage over Chicago A West Ind.
20 miles.
Erie RR. Co. owns entire $100,000 stock.
to
$429,223
OFFICERS.—Pres., S. M. Felton; V.-P., W. L. Park; Sec., W. G.
Lersch; Treas., J. F. Coykendall.
President's office, People's Gas Building,
Adams St. and Michigan Boulevard, Chicago, 111.
DIRECTORS.—Samuel M. Felton, John A. Spoor, A. A. Sprague 2d,
ClydeM. Carr, Chas. H.Thorne, E. A. Cudahy.E. N. Hurley,Chicago, 111.;
Charles Steele, New York; E. F. Swinney. Kansas City; G. W. Wattles,
Omaha; E. C. Flnkbine, Des Moines; Milton Toole, Jr., St. Joseph.—
(V. 110, p. 561, 969, 1526, 1972.)
A CHICAGO & ILLINOIS MIDLAND R Y.—Owns Compro
IIl.. to
TaylorvUIe, 28.4 miles.
Stock auth., $2,000,000; outstanding, $1,000,000
(par of shares $ 100), all owned by Commonwealth Edison Co.
Bonds out,
$2,500,000; see table above.
Equipment trusts June I 1917. $526,878, due
monthly.
Year ending June 30 1916, gross, $290,099 net, $88,435; other
income, $118,511; interest, taxes, Ac., $202,641; balance, surplus, $4,305.
For calendar yrar 1917, gross, $355,063; net, after taxes, $33,810.—
(V. 93, p. 1599; V. 107. p. 905.)
.
cago;
J.
P.
to Chicago,
$2,899,408 Net income.-$1,148,036
(2) Federal Income Account for 1919, Showing Results before Interest Charges.
1919.
1918.
1919.
1918.
$98,194
Oper. rev_.$22,128,189 $19,116,924 Other income- $137,398
2,252,622
Oper. exp.. 19,389,535
17,783,097 Deductions— 2,672,715
Taxes, Ac—
799.438
676,256 Net Income- d/.$596,101d/$l,624,238
.
recommended annual rental of
V. 110. p. 1186.
Gross
Gross income.$2,850,972
A CHICAGO & ILLINOIS WESTERN RR.—Projected Willow Springs
southwesterly to Joliet. Illinois, with branches, a total of 54 miles, of
which 17 miles in operation, WUlow Springs to Hawthorne.
V. 83. p. 491.
Stock, $1,000,000; par, $100.
V. 97. p. 1114, 1356.
Of the Gen. 6s of
1907 ($4,000,000 auth. issue), $965,000 were outstanding in Jan. 1917,
guar. prln. A int. by Dolose A Shepard Co.. Chicago: equip, trusts! $89,890,
V. 86, p. 107; V. 88, p. 685.
For year 1917, gross, $180,291, against $141,100 in 1916, and net surp. after taxes, $10,889; agst. a def. of $788.
Pres.,
W. "B. Clark.
Office, 108 South La Salle St., Chicago.—(V. 97, p. 1356.)
^ConfroL
RAILWAY STOCKS AND BONDS
^Contract.
30
Last
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rate
When
[For abbreviations, dec., tee notes on first page]
Road
Bonds
Value
Outstanding
%
Payable
.'■■■
•
1911
100
1.000
1,000
1,000
500 &c
1,000
1,000
1913
1,000
618
1897
618
1910
64
1906
618
1916
1911
5.000,000
Places
and Maturity
Where Interest
Dividends
J
P
an
Payable
are
&
D See
4~ln*i9i9
J
A
D Dec 31
5 & 6 g
J
&
4 g
4 g
J
A
J
5 g
M
Guaranty Trust Co. N Y
J P Morgan & Co. N Y
N May 1 1966
A
S To Mch 15 1921 Equitable Trust Co, N Y
A015 Oct '20-Oct '21 Bankers Trust Co. N Y
do
&
A Aug '20-Aug '23
do
J
$ 00 $'0,500,000
Chicago Indianapolis & Louisville—Common Stock...
Preferred 4% non-cuinulatlve $5,000,000
Refunding (now 1st) M {$4,700,000 are 6s) ___Cex
do
$15,000,000 gold [Series O
x
Indlanap & Louisv 1st M closed (assurned)__G.xo*
First & Gen M $40,000,000 gold Ser A.-yg.c^r*
Equip bonds Ser A g due $22,000 semi-ann
x
do
do
Ser B due $37,000 or $38,000 s-a. _x
do
do
Ser C due $50,000 s-a.
Ba.xc
Dividend
[Vol. 110.
9,700.000
5,300.000
bl,172,000
c3,2 53.000
44,000
113,000
350,000
4H g M
m
-
A
F
&
text
'19
2%
J July 1 1947
J July 1 1947
J Jaa
1 1956
Morgan
Co,
A
do
do
do
N 7
do
do
do
&
Guaranteed Bonds—
tha t comp any
Kentucky & Indiana Terminal RR 1st M 4Hs—S
5 g
1.000
2.875.000
Monon Coal Co 1st M g Int only gu s f red llOBa xc*
1911
Chicago Indianapolis & St Louis Short Line—See Cle veland Clncln natl Chlo ago & St Lo uls
4 g
1905
1,000
2,327,000
Chicago Junction RR—1st M $2,327,000 g red 105_xo*
ee
K mi In notm
due 4(1.000
vearlv
1,000
1910
1911
'X
b Additional $478,000 pledged under First & Gen.
c
"52
M. of
A
A
J
&
I*
D June 1 1936
MAS Mch
4H * J
9.000.000
735,000
12 000
1,000
1909
Chicago Lake Shore & East—1st M g gu red text-.xo*
Cbic Mem & Guif—1st M g red 105—Ba.xc*&r
J
1 1945
Bankers Trust
Harris
Forbes
Co, N Y
Co Chic
71 Broadway, New York
D June 1 1969
Bankers Trust Co, N Y
J Jan
1 1940
To July 1 1921
A
1916.
Additional $1,280,000 held In treasury.
\
-
i
'
.
•
u
★ CHICAGO
INDIANAPOLIS
★ CHICAGO
•Monon Route" from
&
LOUISVILLE
RY.—Operates
the
Chicago, 111., via Monon, Ind., to Indianapolis, Ind.;
Total Apr 30 1918, 654 miles, via.:
Miles.
Lines owned—
Indiana
State
Line
Indian¬
to
102
apolis
New Albany to Mlohlgan Clty_._289
Bedford to Swltz City
40
Orleans to French Lick Springs..
Clear Creek to Harrodsb'g, Ind..
Wallaoe Jet. to Shirley HUi A br.
McCoysburg to Dinwiddle..
owns
the $2,500,000 bonds.
Compensation for Government operation, $916,804;
company's other income (1918 basis), $15,000.
Of Government advances
to March 31 1919 of $725,000, $500,000 represents 6% secured loan and
$225,000 rental account.—(V. 197, p. 694.
Oper .under Trackage contract—Miles
Chicago to Indiana State Line.. 20
New Albany to Louisville
7
Connection to Indianapolis-.
2
Swltz City to west of Victoria
10
Equipment trusts issued to Director-General for rolling stock allocated
company.
See article on page 3.
-
to this
4
18 Miscellaneous
9 Less—Track north of Dinwiddle,
04
Ind., not operated
(4)
36
CHICAGO JUNC. RYS. & UN. STK. YARDS.—See "Industrials."
★ CHICAGO KALAMAZOO & SAGINAW RY.—See Mich. Central.
with Chloago A Western Indiana (of whose stock this
$1,000,000) gives entrance to Chicago on a mileage basis.
A Ind. Terminal RR. at Louisville, Ky:
A CHICAGO
LAKE SHORE &
EASTERN RY.—Embraces 487
miles of
track, connecting the various works of the Illinois Steel Co. and Indiana
Owns one-third Interest In Ky.
Steel Co. at Chicago, Jollet, Milwaukee and Gary with diverging trunk lines,
and also with steamship llnei, stone quarries. Industrial establishments.
HISTORY.—Successor July 1 1897 of Louisville New Albany A Chicago,
&c.; also reaches the coal fields of III.
and Ind., and Jollet, 111.
Stock,
$9,000,000, all owned by the Illinois Steel Co., and so by the U. S. Steel
Corp., which, with Elgin Joliet & Eastern guar, the bonds, prin. and int.,
by endorsement.
The last named leases the road for 60 years from Tune 1
1909. rental covering all charges and divs. on stock, dependent on errnings.
See V. 90, p. 108.
Divs. paid In 1910, 5%; in 1911, 5% and 2% extra.
'12-'13, 10%; '13-T4, 7%;114-'15, 15%; '15-'16, 10%; '16, 10%; *17. 8%;
'18, 10%;'19, 10%.
Bonds are redeemable in whole or In part from Deo. 11919 at 110 and int.;
they are limited to $20,000,000 and further issues of bonds beyond the
19,000.000 now outstanding can be made only for 50% of cost of property.
V. 88. p. 1372- r 89. p. 224.1410.—(V. 91. p. 1440; V. 103. p. 1301.)
foreclosed per plan In V. 63, p. 922.
Suit settled, V. 75, p. 1031.
In Aug. 1902 the Louisville A Nashville and 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, respectively, In their Joint 50-year 4% collateral trust
gold bonds at par, secured by
under Louisville A Nashville.
••ADVANCES" AND
the stock acquired.
See description of bonds
V. 74, p. 1088. 1138: V. 75. p. 28.
"STANDARD
RETURN," &c.—See page 5.
during Federal control.
Federal Compensation.—$1,620,259 yearly
DIVS. since 1902—
On common.
1
%J
*04. *05. '06.
2H
3
*07. *08. '09 to *13. '14-15. *16. *17'
3
3
3
ZM yly.
0
4J4
3M
Common dividends, 3\i%, June 29, and 154% eac_i in Dec. 1916, June
1917.
On June 13 1918 the 2%
pref. dividend was declared as
usual, but no action was taken on the dividend on common stock.
Pref.
★ CHICAGO MEMPHIS & GULF RR.—Owns Dyersburg. Tenn.. to
Hickman, Ky., 62 miles.
Stock, common, $520,000 and 6% cum. pref.,
$150,000, all acquired in 1913 by Illinois Central RR.
V. 96, p. 716.
A dividend of 8% was paid from the earnings of 1910-11 and credited
towards payment of pref. stock.
Divs. on pref., 1>$% Oct. 1 1911;
1912, 6% (Q.-J.); 1913, Jan., 1X%.
None since to Apr. 1920.
Bonds ($10,000,000 auth.) outstanding Aug. 31 1919, $735,000; reserved
for terminals, &o., $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 cat. year 1918: Standard compensation*
$45,699; other'income, $3,587; gross income, $49,286; interest, $37,800;
other charges, $19,192; balance, def., $7,706.—(V. 96, p. 419.
and Dec.
div. of
2% naid Dec. 1918 and July 1919. V. 106. p. 2559; V. 103, p. 2155;
V. 102, p. 2253.
BONDS.—Refunding Mortgage (closed $15,000,000),
see V. 90, p. 1013,
1095; V. 92. p. 1031. 1700; V. 93. p. 44; V. 94. p. 1118.
outstanding
June 20 1918,
$944,000. as against equipment,
depreciated value, $7,363,000. Monon Realty Co. notes, $21,005.
V. 91. p. 518.
Car
trusts
First & Gen. M. of 1916 $40,000,000.
(V. 102, p. 1810; V. 104, p.
Purposes for which $40,000,000 First & Gen. M. Bonds of 1916
are
1044.)
Issuable
$3,250,000 sold and $1,280,000 in the treasury Dec. 31 1917—$4,530,000
[In July 1919 sought authority to Issue $867,198 additional.]
Reserved—To refund Ref. M. bonds due July 1 1947
15,000,000
To exchange for outstanding Ind. & Louisv. Ry
1st M. bonds 1,172,000
To refund 60% of equipment bonds (40% from Income)
826,800
For acquisitions. Improvements, &c., under restrictions
18,471,200
The First & General Mtge. covers the entire property, being. In March
1917 (compare V. 102, p. 1810):
★ CHICAGO MILWAUKEE & OARY RY.—See page 138.
CHICAGO MILW. & PUGET SOUND RY.—See Chic. M. & St. P. B
★ CHICAGO MILWAUKEE & ST. PAUL RY.—Operates from Chicago
westerly to Seattle and Tacoma, Wash., with numerous branches:
...
A Direct Lien on all Road owned, viz.: A 1st Mtge.
mtge. on 509 miles, and a 3rd mtge. on 64 miles.
(1)
on
45 miles,
a
Road—
Lines owned
2nd
and
In
2,400 shares of
electrification of the line between Othello and Seattle and Tacoma. 217 m...
p.
V. 93, p. 44. 697; V. 108, p. 485.
Equipment trusts issued to Director-General for rolling stock allocated
See article on page 3.
Jan.
1 -Mar. 31
1920.
Net
REPORT.—For fiscal year ended Dec. 31
Years ending Dec. 31—
Gross earnings
Jan.
1919.
1,620,000
Dividends, &c., received
31
1918.
$12,355,826 $11,017,274
1,591,045
1,725,490
1918, in V. 109,
1918.
.$11,017,274
1,333,253
Net (after taxes, &c.)
Standard return
1 -Dec.
1919.
$2,576,401
365,740
1917.
$9,161,898
$2,235,642
p.
FEDERAL DATA.—Pres. Byram announced April 1920 that the com-
1916.
$8,202,276
$2,470,916
_
216,972
375,653
$1,733,372
$996,345
137,670
$2,452,614
$1,005,816
646,702
$2,846,569
$950,454
742,249
Surplus for dividends
Dividend on preferred (4%)
$599,357
199,652
$800,096
Dividend
________(3&)341,1,46(4^)511,875
Total net income
on
bonds
;
Rentals, &c
on
common
199,752
$1,153,866
199.752
OFFICERS.—Pres., H. R. Kurrie, Chicago; V.-P., Morton F. Plant,
N. Y.; V.-P., Fred. Zimmerman, Chicago; Treas. & Asst. Sec., Byron Cassell, 608 So. Dearborn St., Chicago; Sec. & Asst. Treas., F. S.Wynn, 52
Broadway, N. Y— (V. 110, p. 969, 10S8.)
★ 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. <fe Union
Stock Yards Co.;
they are subject to call at 105 after 1910.
Form of
guaranty, V. 82, p. 568.
2005; V. 107, p. 802; V. 108, p. 682.
HISTORY, &C.—Organized May 5 1863 and on Feb. 11 1874 took pres¬
ent name.
The Chicago Milwaukee & Puget Sound Ry., forming Pacific
extension, was acquired in fee Jan. 1 1913, its bonded debt being assumed;
the stock ($100,000,000) is held alive merely as a muniment of title.
V.
96, p. 62; V. 95, p. 1683: V. 97, p. 819.
In Dec. 1918 took title to the railway franchises, &c., of the following
companies, all of whose outstanding capital stock were owned by it: Tacoma
Eastern RR. Co., Puget Sound & Willapa Harbor Ry. Co., Seattle Port
Angeles & Western Ry. Co., Bellingham & Northern Ry. Co., Milwaukee
Terminal Ry. Co., and Gallatin Valley Ry. Co.
V. 108, p. 2017.
2352. 1
113,372
Interest
built
commenced in March 1917. 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,
to this company.
$3,465,092
327,106
Miles.
_1,150
tracks). 436
from Great Falls to Agawam, Mont., 70 miles, and
Partly built, Blackfoot June, to Clear¬
The electrification of 440 miles of the Puget Sound main
line, contracted for in Jan. 1913, was completed in Feb. 1917, and having
proved very successful, is being extended over the Cascade Mtns.
The
Indianapolis & Louisville bonds, entire Issue $1,650,000 was assumed
Dec. 311916, of which $478,000 are held In the treasury along with $253,000
Ind. Stone RR. (assumed) 1st M. 5s.
V. 105, p. 1305; V. 82. p. 508. V. 83.
p. 1290; V. 102, p. 1810.
Also guarantees int. on $2,875,000 Monon Coai
s. f. 1st M. 5s due June 1 1936. redeemable at 110
($3,000,000 authorized
EARNINGS.—
1916-17
Road—
1919 (of
2d, 3d & 4th tracks
Jolntly)10,289 Trackage(lncl.2d & 3d
water, 22 miles.
capital stock of Belt Ry. Co. of Chicago,
(c) rolling stock, &c., valued at
$7,438,000 (equip, trust bonds outstanding, $1,002,000).
Gross
31
Grass Range to Winnett, 23 miles.
over
Issue).
Miles.
Dec.
which 109 m. owned
(2) A Direct Second Mortgage, subject only to the closed Refunding mtge.
(a) on the leasehold interests In terminal facilities in Chicago, Louisville
(b) on 10,000 shares
and Indianapolis and in Kentucky & Indiana Bridge,
of capital stock of Chicago & Western Indiana RR.
RY.—Owns Inner line within the
Chicago
side and industrial tracks. 118.58 m.
In 1907 New York Central interests acquired the outer belt line, assuming
A lease for 999 years
oompany
JUNCTION
Union Stock Yards district, 11.81 m.;
and Louisville, Ky., with branches.
.
tensation forwithholding ofproperty by the U.the company made necessary
27,945,820, the use of its compensation due S. Govt, had been fixed at
the following
borrowings:
(a) Loans to meet interest payments and other corporation
obligations: From War Finance Corp., $11,500,000; N. Y.
banks, $4,000,000
$15,500,000
(5) Due the U. S. RR. Administration
415,909
to
CAPITAL STOCK.—The pref. stock has a prior right over the com. stock
a dividend
of not over 7% from net earnings in each year, but if not
no cumulative right.
After 7% on com., both share pro rata.
earned it has
DIVIDENDS.—
1 '95. '96. WOO. '01. '02-T1. '12-T4. '15-T6. '17.
.%(•
2
4
5 y'ly
6
7 y'ly
5 y'ly 4.M 5
4X
April 1920 no dividends had been paid on either stock since Sept.
1917.
The pref. shares received 7% per annum continuously from 1867
to Sept. 1917, but are non-cumulative.
On common
In
BONDS.—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
open mortgage
any
amounting to $233,686,200.
When the amount of bonds Issued thereunder
(bearing interest not In excess of 6%) reaches $696,000,000, further Issue#
must be limited to 75% of the cost of property placed under the
mortgage.
The mortgage Is secured by a direct Hen on ail the properties,
Including
about 10,180 miles directly owned, 109 m. Jointly owned, terminal
proper¬
ties in Chicago. Milwaukee. Seattle, Tacoma. Spokane & other cities, and
\T
A
IQvO
y
I
lV-u'j
★Government
Date
Par
Amount
Rate
When
Last
Dividend
Bond
Bonds
Value
Outstanding
%
Payable
and
Maturity
Chicago Milwaukee & St Paul—Com stock (see text).
Preferred stock 7% yearly not cum $116.274.900—
161
347
WIso Val Dlv 1st M sink fund not drawn.NB.zc*
Dub Dlv
1st M sinking fund not drawn.NB.zc*
Chic A Pac Western Dlv 1st M (see text) gold.F.zo*
1,116
Chicago A Lake Superior Dlv 1st M gold ...Rao*
Wlso A Minn Dlv 1st M g
Fz
Fargo A Southern first mtge gold assumed
z
Ohlcago A Missouri River Dlv first mortgage.F.zo*
Gen M (for $150,000,000) gold Series A-L'«.xo* Ar
do
do
Series A registered
x
,
do
Series B
do
do
xo*
Series B registered..
O gold..
do
do
do
Series
8erlea
x
xc*
do
do
O registered..—x
Milw A Nor 1st M No MUw to Gr Bay ext 1913-xc*
Consol mtge extended 1913 (V 96. p 1364)._zc*
xDeb $50,000,000 g
[All secured L_F.xc*Ar*
Deb 250.000,000 franca—(by the Gen. (
Usm.x
xGold ($)bds.call at par all!
and
I.— USmxc*
Convert debs text g
iRef. Mtge. 1-Us.xc*Ar*
Ch'Mil A Puget Sound 1st M (text) ass_.Usxo* Ar*
General and Refunding M, Series A ......Gc*&r*
do
do
convert series B (see text)
c*Ar*
Bcllingham A Nor—B B A B O 1st M assumed
Tacoma Eastern 1st M assumed gold red 110-1 C.xc*
Chicago & N W—Com stook $177,539,880 auth—Tr
Preferred stook (not cumulative) see text
Tr
Milw Lake Shore A W oons M (now 1st) gold.Ce.zo*
Michigan Dlv IstM (for $3,000,000) gold._Ce.zo*
Ashland Division first mortgage gold
Ce.zo*
Ext & Imp M for $5,000,000 g s f not drawn Ce.zo*
Marsh Ext 1st M $600,000 ($15,000 p m).Uo.zo*
New first & refunding mortgage—see text
Sink fund bds of "79 ($15,000 p m) red 105-F.vcAr
Sinking fund debentures 1933
Un.ze*Ar
30-year debentures..
.......
Un.zc*Ar
Extension 4s $20,000,000 ($20,000 p m)_Un.zcAr
,
179
196
117
78
6.344
6.344
6.344
6,344
6,344
6,344
118
421
1909
1910
1916
1912
1909
80
1901
92
1903
1914
1915
7,927
7,927
693
1881
1884
1885
1889
40
1892
1,641
1879
1883
421
82
40
1891
1886
Includ
treas. Dec. 31 *18, $117,247,200. "a"A"d
Secured by pledge of French loan debentures, whlc b In tu
the entire
1913
1913
9,895
9,895
9,895
9.895
2,326
9,895
9,895
"Tiuso In
t
1880
1880
1881
1881
1881
1883
1886
1889
1889
1889
1889
1889
1889
es
rn
$100 117.406.000 4 H in '17 MAS Sept 1 '17.
100 115,845.800 7 in 1917 MAS Sept 1 '17.
6
J
A
J July 1 1920
1,430,000
1,000
6
J
A
J July 1 1920
1.000
3,923,000
J
A
J Jan 1 1921
5 g
1.000 25,334,000
J
A
5 g
J July 1 1921
1.000
1,360,000
J
A
J July 1 1921
5 g
1,000
4,755,000
J
A
6 g
J Jan 1 1924
1,000
1,248,000
J
A
J July 1 1926
5
1,000
3.083,000
J
A
J May 1 1989
4 g
1,0001
48.241.000
Q—J
May 1 1989
1,000/
4 g
A
J May 1 1989
l.OOM
8,950,000
3H g J
1.000/
3* g
Q—J
May 1 1989
A
J May 1 1989
1,000 142,597,000
4H g J
1.000
g
Q—
May 11989
J
A
1,000
2.117,000
4*
D June 11934
J
A
1,000
D June 11934
5,072.000
J
A
4 g
1,000 Ac 33,286,000
J July 1 1934
J
500 f r Ac
A
D June 11925
13,076,496 /
4
J
A
1,000 Ac 35,100.000 1
D June 1 1925
4 g
100 Ac
4 H g J
A
49,980.800
D June 1 1932
100 Ac
J
A
4
J Jan 1 1949
26,175.000
100 Ac b43.089.000
A
O Jan 1 2014
4H g A.
F
A
A Jan
5 g
100 Ac
29,129.800
1 2014
J
A
5 g
D Dec 1 1932
1,000
505,000
J
5 g
A
J Jan 1 1923
1,000
803,000
100 145.157,169 7 In 1919
Jan 2 1920
O—J
100
Jan 2 1920
22.395,120 8 in 1919
Q—J
6 g
1.000
MAN May 1 1921
5,000,000
6 g
1,000
J
A
J July 1 1924
1,281,000
1.000,000
MAS Moh 1 1925
1,000
6(5
F
A
A Feb 1 1929
1,000 a3,897,000
5 g
A
A
O Oct
1,000
5
400,000
1 1922
1.000Ac
1,000 Ac
1,000 Ac
1.000 Ac
m.),
p.
secured thereunder. None of the prior Hens may be extended and no further
Issued except gen.
M. for refunding purposes, so that eventu¬
amounts
ally the Gen. and Rer. bonds will become an absolute first lien.
Further
bonds may be Issued for improvements, betterments, acquisitions, construc¬
tion, equipment, Ac.
Of the bonds. $154,489,500 have been issued In ex¬
change for Chic. Milw. A Puget Sound 1st 4s (leaving only $26,175,000 of
the latter outstanding).
On Dec. 31 1919 the treasury held available $117,247,200 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. 1244, 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.
Abstracts older mortgages. V. 45. p. 114, 144, 212; V. 48, p. 830.
TheGeneral mortgage of1889 (see abstract In V. 48, p. 830; V. 98, 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 liens
which are paid as they mature.
V. 89, p. 1279, 1541, 1596, 1667; V. 103,
p. 1114.
Milw. & 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. mtge.
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 n surrendered
by owners.
These bonds are secured by an equal face valve »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.
V. 102, p. 344;
V. 101, p. 2143: V. 102, p. 1625.
The $49,980,800 4H% debentures of 1912 are convertills
at par Into
common stock after June 11917 and
prior to June 1922, at tbs option of the
holders, within 10 days after any dividend 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. p. 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
{rarchase of road, $27,175,000 were sold and $154,489,500 were exchanged
O. M. A St. P. Gen. A Ref. bonds and deposited under that mortgage.
or
V. 92. p.
593. 659. 725, 1374; V. 93, p. 1386, 488; V. 94. p. 767. 1185; V. 98.
p. 1692.
Bonds cover road, terminals and equipment, and run to maturity.
Equipment trusts issued to Director-General for rolling stock allocated to
this company.
See article on page 3.
Jan.
EARNINGS—
1 -Mar. 31
1919.
1920.
—
REPORT.—For 1919, V. 110, p.
Calendar Years—
20691919.
1918.
1917.
10,289
10,303
10,257
$30,391,921 $23,492,031 $21,329,946
106,288,453
96,623,658
79,957,271
13,690,020
12,778,766
12,451,985
Average miles operated
Passenger earnings
Freight earnings
Mail, express, Ac., earnings
Total
Jan. 1 -Dec. 31
1919.
1918.
-_$39,242,80$ $32,182,224 $150370.394 $134772,945
2,211,590
960,690
11,808,689
11,803,545
Net
.$150.370,394$132,894,455$113,739,202
23,144,811 $18,906,980 $10,953,309
earnings
Maintenance of way and structures..
Maintenance of equipment
Taxes
Miscellaneous
40,422,005
38,069.987
22,015,201
70,395,926
6,446,418
4,598,963
Transportation and traffic
61.985,593
6.185.935
49,887,089
6,517,212
2,340,365
3,233,546
Net earnings
$4,512,415 $22,026,026
$5,362,271
27,945,820 $27,946,771
Total net income, incl. "miscell."
31,733.534 $30,249,011 $23,845,379
Deduct—Accrued Int. on funded debt. 18,059,350 $16,767,186 $16,596,624
Federal compensation
Hire of
equipment
Rents paid
1.317,711
1,658,349
Miscellaneous
Expenses prior to 1918 (net)
Preferred dividends (7%)
Common dividends
Balance, surplus
or
4,713,428
deficit
1,136,242
1,026,148
617,734
5,583",965
8,109,256
sur$7,643,045sr.$6,241,510df$8,923,844
*
OFFICERS.—Pres., H. E. Byram; V.-Pres., R. M. Calkins. E. D.
Sewall, B. B. Greer, H. B. Earling; V.-Pres. A Asst. Sec. A Asst. Treas.,
Treas., A. G. Loomis, Chicago; Sec., E. W. Adams,
C. B. Ferry, N. Y.;
Directors.—William Rockefeller. Samuel H. Fisher, Donald G. Geddes,
John A. Stewart, Percy A. Rockefeller, Walter P. Bliss, E. S. Harkness,
John D. Ryan, 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, 42 B'way.—(V. 110, p. 969, 1289.)
★ CHICAGO
&
NORTH
WESTERN
RY.—(See Map.)—Operates
system of roads uniting Chicago, 111., with Omaha, Neb.; St. Paul, Minn,
with the great wheat belts of Dakota, Nebraska, Ac., and with the mining
regions of Michigan and the Black Hills, 8,090 miles, Dec. 31 1919, viz.:
Miles.
Main lines. Ac
7,927
Entire stock owned—
Wolf River Valley
2
DePue Ladd A East, (leased)..
3
Belle Fourche Valley (leased)..
24
Miles
James Riv A Nor West(leased).
Iowa Southern
39
14
Sundry trackage (V. 108, p.1942)
77
Second track.
918
Also has Ihrge Interest In Chic.
St. Paul Minn A Omaha--.. 1,749
Macoupin County Extension..
4
Through passenger service between Chicago and Pacific coast Is malntained via Union Pacific.
V. 93, p. 1*«7; V. 94. p. 697.
HISTORY, <fcc.-—A Vanderblit llne/<V 75 p. 1086) organized In 1859
5 & 6
A
-
do
do
do
do
do
do
do
do¬
do
do
do
do¬
do
do
do
•
do
do
,
do
do
do
do
do 1
do
•
do
do
do!
do
do
do
do
do
do
Paris and London
N Y office 42 Broadway
do
do
do
do
San
do
do
do
do
Francisco
Chicago
IK Oo's olfloe 111 B'way .NY
do
do
2%
do
do
do
do
do
do
do
do
do
dc
do
1 1929
O Oct
A
dc
•lO
8,678.000
5
6
MAN May 1 1933
A 15 A O Apr 15 1921
do
10.000.000
do
do
18,632,000
4
F 15
do
do
viz.: "a
Mtge.
1919,
A
A A
Ref.
Aug 15 1926
;...
$14,000.
GAPITAL STOCK.—Of the com. stook, $2,342,472, and of the pref. $3>
834 additional to amounts shown as outstanding in table above were in
treasury in Apr. 1920.
There was also outstanding April 1920 $65,000
special stock.
Pref. stock has prior right to 7%; then com. 7%: then pref.
3J|;tilen com- 3%; then both classes share. V. 89, p. 1482; V. 104, p. 451,
31
Dec.
common
1919
U.
P.
system
(Oregon
Short
Line)
owned
$4,420,600
stock.
DIVIDENDS—
1
Common
} 6 y'ly
Preferred
In Mar. 1920 it
J
was
1901.
3
4
5 y'ly
1902-Jan '20
6
'86-'93. '94. '95. '96-'99. '00.
7 yetuiy
6
7 yearly
—8 yJ,v—
announced that divs. in future would be considered
1
half-yearly for quarterly payments.
BONDS.—Qeneral Mortgage.—See Abstract In V. 65, p. 1175.
ized issue Is $165,000,000 (U. S. Trust Co., trustee.)
V. 65, p.
Author¬
69, 111,
571; V. 75, p. 980; V. 88, p. 280, 563.
In Dec. 1919. there was outstanding
$31,316,000 Gen. 3Ks, $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 are reserved for improvements or additions,
including equipment, but not exceeding $1,000,000 in any one year.
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. 1*48; V. 100, p. 1078; V. 102, p. 608; V. 103,
p. 493; V. 106t_p. 2756; \ . 107, p. 2289; V. 108. p. 877.
106, p.
* • xuo,
V.
The Sinking Fund bonds of:1879 are secured by deposit In trust of $12,860,900 of 1st M. bonds at $15,000 per mile on subsidiary lines, the most im¬
portant being described in "Supplement" of May 1894
Of the sinking fund
bonds of 1879, $5,079,000 are 6s; the sinking fund Is at least 1% of out¬
standing bonds, which are subjeot 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 1886 are secured by deposit Intrust of first mort¬
$20,000 per mile.
Included In the collat¬
Fremont Elkhorn A Mo. Valley lata and
$2,560,000 Wyoming Central lstsi(consolidated with F, E. A M. V.), Ao.
gage bonds at a rate not exceeding
eral July 1 1916 were $10,675,000
The Fremont Elkhorn A Missouri Valley oonsols have a first lien on 1,241
miles (Fremont. Neb., to Dead wood, S. 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.
Milwaukee Sparta A Northwestern Ry. 1st M. bonds (assumed In April
1912), road merged In O. A N. W.
V. 94, p. 416, 1056, 1185.
In Jan.
1913 sold $2,500,000 Des Plain es Valley Ry. (assumed March 1913) and
in Feb.1913 $1,120,000 St. Paul Eastern Grand Trunk Ry. guar. 4J4«. and
In Oct. 1913 $10,000,000 St. L. Peoria A N. W. Rv. guar. 5s (assumed).
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
A Refunding Mtge. ana 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 Company, in May 1920 applied for permission to Issue $15,000,000
of these bonds.—V. 110, p. 2075.
Equipment trusts held by co. and due from trustees in Apr. 1920:
,
Issue
Issue
1913—
"D"
"E"
1917—
$3,376,000
$1,200,000 Series "G".__
2,800,000
3,880.000 Series "H"
"I"
1,780,000
Series
"F"
920.000 Series
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Series
Series
-
COMPENSATION UNDER FEDERAL CONTROL.—The 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
Jan. 1 -Dec. 31
1920.
1919.
1919.
1918.
$35,707,265 $28,893,987 139,589,9151127,295.678
2,797,710
2,277,213 20,010,528
17,797,106
EARNINGS.—
I..
Net...
REPORT.—For fiscal year ending
Dec^31 1919 in^V. 110, p. 1844^
Operating revenues....
.......-$139,589,915$127,295,6785108,264,983
Net, after taxes, Ac..
14,245,619
12,272,956 24,241,320
Accrued Federal compensation..*
23,201,016 23,201,016
-------Dividend income...
1^020,460
1.026,130
1.826,564
-
1,271,547
Other income
Milwaukee; Compt., G. J. Bunting Chicago.
Road owned in fee—
10 238.000
Gross
(412)5283270
...
Dividends are Payable
N Y Office 42 Broadway
do
do
3H
2
.
to retire which an equal amount of bonds Is reserved, $132,007,200 being
also reserved to retire debentures and convertible bonds, which are equally
Gross....
Places Where Interest and
,
bon ds in sin. fd. Dec. 31
are secured
by the Gen
equipment, subject to $179,673,000 prior liens ($18,331
37
Control.
Miles
RAILROAD COMPANIES
IFor abbreviations, Ac., see notes on first page. ]
i
APrlvate
RAILWAY STOCKS AND BONDS
Contract.
1,236,532
1,186,261
$25,493,023 $25,463,677 $27,254,145
Gross income
RentX AC„::::::::::::::::.:.- s2:236!58i
$2,i64,86o
$1,217,819
9,273,859
8,816,106
8,911,295
Interest
on
funded debt.
—
111,480
Sinking funds
^^eired dividends
11
170,882
KSSSS®:::::::.::: io:m675
1,791,600
1,791,600
io.i6o,675
9,897,307
$2,030,307
$2,418,956
$5,265 183
Balance,
m
(8 %)
surplus...
1,791.600
m-SJi gjWT 'mgrnmmm
OFFICERS:—Marvin
H. Finley, Chicago;
V.-Ps., S. A. Lynde, H. R. McCullough, Marvin Hughitt Jr. and E. M,
Hyzer; Gen. Counsel, 8. W. Sargent; Sec., J. D. Caldwell, Chicago; Treas.,
A. S. Pierce, 111 Broadway, New York.
Directors.—Marvin Hughitt (Chairman), Chicago; W. K. Vanderblit,
F. W. Vanderbilt, Harold S. Vanderbilt, Chauncey M. Depew, W. K.
Vanderbilt Jr., N. Y.; Cyrus H. McCormlck, Chauncey Keep, W. H Finley, Chicago; Gordon Abbott, Henry C. McEldowney, Pittsburgh, Pa.;
David P. Kimball, Oliver Ames, Boston; Edmund D. Hulbert, Chicago;
Childs Frick, James A. Stillman, Samuel A. Lynde.—(V. 110, p. 561,
969, 1642, 1748, 1844 , 2075.)
Hughitt, Chairman; Pres., W.
MAP
OP TUB
CO
QC
CHICAGO & NORTHWESTERN
RAILWAY
SYSTEM.
SJ
>
H-\
s
>
*<
cn
H
O
O
W
CO
o
w
o
S5
o
w
o
r<
i 920.1
May ,
★Government
on
Chicago & North Western (Con)—
Gen gold bond M $185.000,000
do
do
do
do
do
Rats
When
Last
Dividend
Outstanding
%
Payable
and
Maturity
and y registered._
1897
1897
1897
1897
5.038
1897
1000 Ac/
l.OOOAci
1,000 Ac/
1,000 &c
x
1906
1.000
1912
1912
1912
3 H g MAN Nov 1 1987
Nov 1 1987
-3H g
Q—F
1,000 ftc
1,000 &C
1,000 ftc
Mllw ft State line 1st Mggu (V 88, p 230)_F.xo*Ar
O ft N W equip tr 1912. Ser A, $300,000 ylyF.zc«T
do
do sec. B $300,000 yrly
z
ii
50
do ser. G $400,000 yrly see text-F.zc*
issues 1913-17 in series due 1-10 y'rly _Fc*
do
Ao\ $31,316,000
5.038
5.038
5.038
do
do
1000
5,038
yc*ftr
do
do
Amount
Value
Us.xc^&r
do
do
Par
Bonds
registered __x
x and y o*
do
do
Date
Road
first pace)
Serial notes
28,472,000
1917
Dividends are Payable
Go's office,lllB'way.NY
do
M
do
do
do
N Nov 1 1987
Jan
1 1941
ft
g J
A
J
do
do
1 1987
do
do
do
do
Nov
Q—F
5g
3*
4*
2,500.000
Ac
Places Where Interest and
MAN Nov 1 1987
4
900,000
900.000
f1.596.000
1,000 Ac N 'neMay'20
700,000
1919
--
4
30.554,000
39
Control.
Miles
RAILROAD COMPANIES
iFor abbreviations. Ac., see notes
APrlvate
RAILWAY STOCKS AND BONDS
Contract.
ft
*
July *20-1922
Farmers L ft Tr Go, N
A ft
Oct '20-1922
do
do
J
ft
July '20 *23
do
do
semi-ann Due 1-10th y'ly
do
do
J
ft
J July 1 1921-27
P
Branch Line Bonds Assumed
$16,000 per mlleF.zo*Ar
90
1898
119
26
1899
1,440,000
1,904,000
1,000Ac
Ry 1st M gold $16,000 per mile.F.zo*ftr
Mankato ft New Ulm 1st M goie» $416.000_F.zo* Ar
Princeton & Northw 1st M $2,100,000 gold.F.zoAr
1,000 Ac
1.000
1,000 Ac
1,000 Ac
1,000 Ac
1,000
1,000 Ac
1,000
1,000 ftc
1,000 Ac
1,000 ftc
1,000 ftc
1,000
Boyer Valley Ry 1st M
g
Minn & la
Peoria
105
85
gold.F.zo&r
Sioux City & Pacific 1st M gold $4,000.000-F.zcftr
Minn A So Dak 1st M gold $528,000
F.zc*
Iowa Minnesota A Northwestern 1st M g __F.cz* Ar
Mil Sparta A N W 1st M g $15,000,000 guFxc'Ar*
&
1899
1901
Northwest 1st M $2,125,000
1901
125
33
1901
1900
195
1900
179
1912
1912
Dee Plaines
Valley Ry 1st M $2,500,000. F.xc»ftr*
Manlt Gr Bay A NW 1st M g gu (V88, p230>F.zo*Ar
8$ Paul East Gr Trk 1st M g gu—
xc*ftr*
StLP&NWMg guar (V 97, p 1203) __F.yc*r*
Frem
Elk AM Vcons M $25,000 per mile
assumed.*
114
1906
50
115
1913
1913
1,170
1883
1896
Wisconsin North 1st M $400,000
1900
"r.ooo
235
1909
1913
"""V.ooo
1911
1.000
Chicago Rock Isl & Pac—
New common stock $75,000,000
7% pf stk call 1051 (5% cum) same pf as to assets._
6% pf stk call 102 /diva after 1% on 7% pref__
General (now lst)Mtge $100,000,000 goli.Ba.xc* Ar
3,252
First ft Ref M $163,000,000 g
Ce.xc*ftr Text
Ool Trust gold notes callable (all) at par_.Ba.xc
Collateral trust 1-year notes
Ce.c*
a Includes $54,174,000 in treasury Octl 1919, or pi edged
1904
Gross.
1916
(cal. year)
Pres..
Bluford
$944,220
886,559
2,192,287
1,810,460
col1
as
-Jan.
1919.
$239,012
def.128,268
$1,736,078
def.759,101
aft.Tax. Oth.Inc.
$127,071
$7,861
142,310
6,781
248,232
244,767
do
do
do
do
do
A
g J
J
J
M
A
M
ft
3
J
A
S
do
Mcb 1 1947
J Jan
1 1941
do
do
do
do
J Jan
8
do
do
do
do
J
ft
A
A
ft
J
J July 1 1948
1 1933
July 15 1931
1,000
Int.,Ac.
$87,887
96,237
4,500,000
5,500,000
1.000
ateral.
all in
c
ft
ft
ft
8 Men 1 1930
Mch '18 coup not paid
D Dec 1 1939
June 1914 coup not paid
N Nov 1 '20 to '23
A
A
O Oot
1 1988
Apr
ft
1 1934
ft
:e6afi.n
s.
O Oct
f.;f $4 ,000:
Berger,
Federal control
(con¬
tract executed).
representing the Gen. & 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.)
The committee
CH.R. I. & PAC. RR.—(Holding Co.)—Foreclosed.
V. 107.
p.
2187
★ CHICAGO ROCK ISLAND & PACIFIC RY.(See Map page 111).—The
system extends from Chicago, 111., via Omaha, Neb., to Denver and Colo¬
rado Springs, Colo., also to Minneapolis, Kansas City, ftc.
Connects
with the Southern Pacific for Pacific Coast service.
_
Miles
Owned in Fee
Cap. Stk. all owned—(V.106p,2025)
Gull (leased)
967
Ch. R. I. A Gulf Ry
468
Rock Island, Ark.
A La. RR.
385
St. Paul ft K. O. Short Line RR. 183
Choc. Okla. A
Rock Isl. ft
Dardanelle
Ry
Rock Island Stuttgart ft So. Ry
Stock 50% owned (V. 108, p.378)
14
21
Trinity & Brazos Val. Ry
__315
Per pet. lease; treated as owned—
Peoria A Bureau Valley RR. Co.
47
8 056
Total mileage owned directly and through capital stock, Ac
1912
were
Co., 62; Peoria & Bureau Valley RR., 47
-—
262
24 1917 re¬
possession of its property, having been successfully reorganized
without foreclosure.
The sale of $29,422,160 7% pref. stock to a syndicatORGANIZATION.—The company at midnight on June
g
do
$1,000.
pref. to former directors provided for old floating obli¬
replaced by $20,000,000 6% pref. stock. V. 104, p. 2641, 2552,
Plan of reorganization was In V. 103. p. 1887,
STATEMENT TO N. Y. STOCK
FINANCIAL
FULL
of Feb. 26 1919, see V. 108, p. 1172 to
1174.
EXCHANGE
Tentative valuation, V. 109,
1461.
p.
In Jan. 1919 the company
concluded
the Colorado ft Southern Ry. Go.
a
litigation with
settlement of its
respecting the Trinity ft Brazos Valley
Ry., extending from Fort Worth and Dallas to Houston and Galveston,
whereby the Colorado & Southern accepted (in cash 60% of the amount
due 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 & Brazos Valley Ry.
and will have a per¬
manent outlet to the Gulf ports.
See "Notes" below.
V. 108, p. 378;
V. 109, p. 672.
CAPITAL STOCK.—Of the
$75,000,000 com. stock, $517,478 on
Aug. 31 1919 was in the treasury and $122,800 reserved against outstanding
stocks of merged cos. (B. O. & N. and R. I. ft Peoria.)
Two Classes of Pref. Stock, 7% and 6%, 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.
(1)
7% Pref. Stock, callable at 105.
Auth., $30,000,000, viz.: in
treas., $256,111; canceled. $321,700; balance outstanding___$29,422,189
6% Pref. Stock, callable at 102.
Auth., $35,000,000; issued
$25,122,600
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.
Principal Treasury Resources Oct. 1 1919.
ft
Refunding bonds
($42,711,000 pledged in 1919 under
$54,174,000
2,757,0o0
collateral notes)
St. Paul & Kansas City Short Line RR. 1st mtge. bonds
Rock Island Arkansas ft Louisiana RR. 1st mtge. bonds
1,965,000
4,780,973
Bonds of subsidiary companies
On Dec. 31 1918 owned $400,000 of
Series A gold 4s and all of the $5,-
047,000 Series B gold 4s of the Toledo St. Louis ft
company on
Western RR. (see that
another page) secured by stock In the Chicago ft Alton.
pref. stock, and 3% on the 6% pref. stock have been
1918 to Dec. 31 1919. V. 109, p. 172; V. 108, p. 2432.
ftc.—The reorganization
on
the 7%
paid from Jan. 14
reduced the total
fixed
charge
obligations from $295,946,383 to $257,758,383, and during the first half
of 1917 these were further reduced to $221,051,448 out of earnings and
current assets, increasing the proportion of stock to such obligations from
25.12% to 58%, and reducing the fixed interest charge from $12,277,090
to $9,347,000.
Capitalization p. m. in Dec. 1918: Funded debt, $29,235;
pref. stock. $7,359; com. stock. $10,052;
total. $46,646.
V. 105, p. 997.
Consoi. Indiana
V. 107, p. 2008; V. 104, p. 1267; V. 80, p. 2401, 2623; V. 82.
499; V. 100, p. 1921.
On Dec. 311918 owned or nad retired all of the bonds of
Coal Co.
p.
BONDS.—General 4s of 1898.
V. 66, p. 622; V. 78, p. 228'.V.80,p.272.
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
equlpt. and shops at SllvD, near East Moline, 111., and
on 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¬
gating, exclusive of leased lines and trackage, on Dec. 31 1918, 4,669 miles,
also on the entire capital stock and leasehold interest on lines aggregating
968 miles and on leasehold
interests on 2/2 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.
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 ft Rock Island Elevator $300,000 mortgage 5% bonds due Oct.
1924 (assumed), see V. 79. p. 2590; V. 82, p. 750.
Rock I. Ark. A La. 1st M. 4Ms (V. 90. p. 620. 699, 1161) and St. P. A
Kansas City Short Line 1st M. 4tie, V. 92, p. 526. 593; V. 93, p. 1196; 1159;
V. 94, p. 1056; V. 97. p. 236, 1114), were guaranteed, principal and Int.
Rock Island-Frisco Terminal 5s. see that co. and V. 84. p. 669, 748,
and Kansas City, new
Collat. Tr. Notes of Feb. 1 1919 were
settlement of the Trinity ft Brazos Valley and
litigation (see "Organization above).
They are
secured by pledge of $7,841,000 First ft Re£ M. 4s. V. 108, p. 479.
The
$5,500,000 Collat. Trust 1-year notes dated Oct. 1 1919 were Issued to pay¬
off the Gen. M. bonds of the Choctaw Oklahoma ft Gulf RR. due Oct. 1
1919.
They are secured by pledge of $10,000,000 First ft Ref. M. bonds.
V 109 p
1272
'Loans and bills payable as of Oct. 11919, $14,713,000, Incl. demand loans
of $10,430,000 from the War Finance Corp. secured by $17,575,000 First
NOTES.—The $4,500,000 6%
Issued in connection with a
Galveston Terminal Ry.
ft Ref. M. bonds.
Equipment trusts issued to
to
Leased—Keok. ft D. M. Ry., 152 m.; White ft Black Rlv. Vail. Ry.
sumed
do
Central Union Tr Go NY
1920
2451, 2342; V. 106, p. 2025.
1980, 2155; V. 104, p. 451.
FIRST A REFUND. 4% BONDS
Burlington, la., to Mlnn'p.Mlnn. 308
Vinton, la., to Watert'n, S. D_
370
St. Louis, Mo., to Kan. City, Mo_284
Bravo, Tex. (New Mex. State line)
to Santa Rosa, N. M
112
Glenrio,
Tex,, to Tuoumcari,
N. M
42
Branch lines
2.795
1
DIVIDENDS.—The initial semi-annual dividends of 3M%
Stock,
authorized,
$1,000,000;
outstanding,
$500,000;
par,
$100
Chicago Junction Rys. & Union Stock Yards Co. (see Miscellaneous Com¬
panies) guarantees the bonds, prin. and Int., by endorsement.
V. 101, p
773. Dividends 1913. 8%; 191o to 1919 6% yrly. Of the 1st 5s ($2.000.00G
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 60 2-3%
of the cost of additional properties and franchises, but only when annual
earnings are twice the interest charges, including bonds then to be Issued
323
First Nat Bank, N Y
New York
AjFeb 1 1922
ft
j
Merch Nat Bank, Boet
Dec 31 '19 3
Dec 31 '19 3
Jan
A
l"
6
1925
1
gations and reorganization expenses, while the $20,000,000 debentures of
Balance.
sur.$47,045
52.854
sur.
s.
CHARGES,
Okla
do
M
6 e
and $5,000,000 6%
First
★ CHICAGO RIVER 5c INDIANA RR.—Owns 17.49 miles of terminal
road; Atch. Top. ft S. F. trackage, 14.33 m.; P. C. C. ft St. L. Ry. trackage,
8.27 m.; Ind. H. B. RR. trackage. 3 32 m; trackage through Union Stock
Yards, 15.77 m.; total operated, 59.18 miles.
(excl.trackage.) Miles.
Chicago, 111., to Ool. Spgs., Col_l,073
Davenport, la., to Terral, Okla.
707
Herlngton, Kan., to Texhoma,
do
do
M
ftc al49115000
93, showing:
Wilson.
Compensation.—$108,526 yearly during
do
do
J
4H
.....
&
$2,147,466
def.393,697
Springfield. III.: Sec. ft Aud.. H. W.
Springfield, 111.; Treas., F. J. Wilson.—(V. 110, p. 561.)
Federal
1 1947
O Oot
J
4 g
ft
J
4H
I'
ft
1 -Dec. 311918.
1919.
Net
do
do
g F
g J
7
500
1919
1919.
REPORT.—For half-year end. Dec. 31 1916, In V. 105, p. 1
1916 (6 mos.)
1915 (6 mos.)
1917 (cal. year)
do
do
6
BONDS.—Of the Gen. ft Ref. M. bonds ($15,000,000 auth.), outstand¬
ing $2,850,000, $2,000,000 reserved to refund prior lien mtge. bonds,
$150,000 served 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.
The Sept. 1914 coupons on Prior Lien 4Hs were not paid promptly but
these and subsequent coupons were met about 6"months later within the
grace period.
In Jan. 1919, however, the March and Sept. 1918 coupons
still remained unpaid.
V. 108, p. 378.
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. V. 109, p. 370, 2073.
Net
do
do
25.122,600
Committee for Equip. 6% Notes.—Ohellis A. Austin (Chairman); J. C*
Traphagen, 115 B'way, N. Y. (Sec.); Mercantile Trust Co., N. Y., depos¬
itary. V. 109, p. 2073.
$410,082
def.34,980
do
29.422,189
Committee for Gen. A Ref. M. 4Hs.—Frederick J. Llsman (Chairman),
Shepherd; Graham Adams, 30 Broad St.. Seer,; Bankers Trust
Co., N. Y., depositary.
Majority deposited.
V. 99. p. 1213,1450, 1672.
Gross
1 1926
1 1926
Aug 1 1936
Jan
1 1935
Jan
1 1935
Moh 1 1947
J Jan
S Moh
61.581 000
and Alfred
29
Go's office. 111 Broadway
do
do
1 1929
M
Ao
-STANDARD RETURN," ftc.—See page 5.
Commute* for Prior Lien 4 )As.—Sidney O. Borg (Chairman), J. N. Bab•ock. 37 Wall St., Sec.; Eq. Tr. Co., N. Y.f depositary. V.99.p.673, 1527,
Feb.
2,000,000
2,850.000
186,000
100
1,000
★ CHICAOO PEORIA ft ST. LOUIS RR.—ROAD.—Owns from Pekln to
179 miles; Granite City to Madison, 2 miles; Madison to
Bridge Jot,, 3 m.; Havana to Jacksonville. 111., 42 m.; branch, Lookhaven
to Grafton, 8 m.; total owned, 234 m.; trackage. Pekln
to Peoria. 9 m.;
lines operated, 1 m.; other trackage, 11 m.; total, 255 miles.
Successor, per plan V. 89, p. 285, 1541, of railway foreclosed Nov, 18
1912.
V. 96. p. 135.
On July 31 1914 Pres. Bluford Wilson of Springfield,
III., and William Cotter of St. Louis were appointed receivers.
V. 99,
p. 342.
Stock. $4,000,000.
1
1 1923
J
_
100
1898
Granite City, 111.,
Jan.
O Oot
74.359,722
Equipment notes Series A due $59,000 yearly
Chic Riv & Ind—1st M gold guar p ft i
MC.xxc*
1920.
D June 1 1924
A
4H
765,000
100
D Deo
J
4 g
15,000,000
2,500,000
3,750,000
1,120,000
10,003,000
g7.725.000
e$440,000
235
Chic Peo& St LRR—Prior lien Mg call at 107 H Eq.xc*
Gen and Refunding M $15,000,000 gold red text..*
EARNINGS.—
2,100,000
2,125,000
4.000,000
528,000
3.900,000
""
J
3K
3)*
3*
3H
3*
3H
3«
3H
C416.000
this company.
Jan.
1920.
OF SYSTEM—
Gross
Net
_
_
...
Director-General for rolling stock allocated
See article on page 3.
EARNINGS
_
_
1-Mar. 31
1919.
Jan.
1919.
1 -Dec. 31
1918.
$31,957,236 $23,609,624 $111578.655 $99,869,556
4.934,446
1.247,322
14,553,888
13.770.982
Ro id
Par
Amount
Rats
When
Value
Outstanding
%
Payable
Chic Rock Isl & Pacific Ry (Concluded)—
Old Divisional Bonds, &c.—
292
Minneapolis & St Louis 1st M gold (assumed) ...Fz
Rook Island & Peoria cons 1st M (V 75, p 30)_Mpz
Choo A Mem 1st M $3,750,000 assumed._GP.xo&r
Choctaw Okla A Gulf Consol mtge gold
GP.xc*
R I A <5e L 1st M $30,000,000 g gu red 105 Ba.ao* At*
Little Rock 6c Hot Spg
West notes guarp 6c 1
1884
1877
1885
1899
1902
1910
1911
1911
1910
113
282
686
363
St P & K 0 Short u—1st M g gu red
Eqnote Ser D
g
$225,000
i05-Ba.xo*4sr*
(V 90,p813,1362).Bax
s-a
x
1,000
1,000
500 &c
Ser E g $5,000 due semi-annually
do
Ser F g $12,000 s-a (V 93, p 939)
Ser G g $170,000 s-a (V 95p 1607)
do
Ser H g $441,000 ann (V 96, p 1772) _Baxc&r
Ser 1, 2 A 3 due $144,973 sernl-ann
Chicago St Louis & New Orleans—See Illinois Centra)
do
£
1.000
OStPM 46 O M $30,000,000 ($15,000 p m)_Ce.zo
do
do
consols Interest reduced—
1912
1898
1901
1910
1.000
1.000 4to
1910
1913
Avge. mileage operated.
8,055
Operating Revenues—
Freight
Total oper. revenue.$116,624,684$104,289,565
Total oper. expenses...$101,497,733 $89,550,327
♦
*
sur. or
Dividends
and
A
8c
ft
A
A
N Nov
J
A
A
J
A
5 g
J
A
M
A
do
do
Europe
Go's office, Chicago
1941
Feb
A
M
do
1934
1939
J July
F
do
1952
New York and London
20-Aug
J July 20-July
J Jan '21-July
8 Sept 20-Sept
8,088
$89,608,722 $80,889,129
$66,046,104 $55,091,717
20 '20, 2H Office 111 B'way, N Y
do
do
'20, 3)4
A
A Feb
A
A Feb 20
do
do
A
S June 1 1930
A
D June 11930
do
do
3)4
J
A
do
M
A
D June 11930
8 Mch 1 1930
do
5 g
do
do
5
J
A
F
A
4ft
A
J J ail
1 1930
J
A
A
5
250.000
J
5
40.000
See text. J
See text
A
OFFICERS.—Chairman, Chas. Hayden; Pres., Jas. E. Gorman; V.-Ps.»
M. L. Bell, L. C. Fritch, F. Nay, T. H. Beacom (Gen. Mgr.), S. H. JohnM. Allen, F. D. Reed; Sec. & Treas., Carl Nyquist, ChicagoNew York office, 66 Broadway.
Board.—J. G. Shedd, M. L. Bell, James A. Patten, N. JL. Amster,
Charles Hayden, James Speyer, A. O. Rearick (representing 114.000shares
In Holland), F. W. Scott, G. W. French, W. Z.
Ripley, Henry Bruere and
P. G. Ten Eyck and J. E. Gorman.
Executive Committee: Nathan L. Amster, Chairman; John G. Shedd,
James Patten, Charles Hayden, W. Z.
Ripley, J. E. Gorman and G. W
French.
Finance committee: Charles Hayden, Chairman, A. O. Rearick,
Frederick W. Scott, Henry Bruere and James Speyer.—(V. 110,
J July 1
Apr
1942
1 1942
& North Western Ry. purchased control,
and $5,380,000 pref.. and In 1910 $220,000 com.
Compensation.—$4,934,790 yearly during Federal control (con¬
Y. 108, p. 1944; V. 107. p. 1669.
STOCK.—Outstanding: Common, $18,556,766: preferred, $11,259,300.
Held
by the oompany Apr. 1 1920. common stook and scrip, $2,844,207,
preferred stook and scrip, $1,386,974.
Preferred stook has a prior right
to non-cum. dividend of 7%, but com Is never to receive more than
pref.
LATE DIVS.—1'99. '00. '01. '02. '03. *04. *05-'16. '17.
Common
I 3H
5
5
8
6
6
7 y')y
6
*18.
5
*19.
V. 92, p. 954, 1310.
North Wise. 1st 6s, due 1930. are
exchangeable at option of holder at any
time $ for $, for consol. 6s. V. 68.
p. 521; V. 77, p. 2389.
The
070,000 St. Paul 6c 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
May 1 1920: (a) Outstanding
6% bonds, $24/402,000:3)4% bonds, $3,734,000; (b) reserve to retire under°'000:
resreve tor new lines not to exceed $15,000 per
ffillOy $1,313,000.
Of the
$11,200,000 debentures ($15,000,000 auth.), $9,200,000 are"plaln"
are "stamped" as subject to Income tax; an additional
SSd«A2^Pj000
unless
Frank
new "First and Ref." M. Is a first lien on about 115 miles
a second (consol.) mortgage on the remaining 246 m. owned.
V. 91.
337; V. 92. p. 596; V. 94. p. 1118.
.
Purposes for which $20,000,000 First and Refunding Bonds teere Issuable.
Issued under plan (of which $2,090,000 pledged tor loans) —_—$6,334,000
Reserved to retire So. Ind. Ry. and Bedford Belt 1st M. bonds— 7,787,000
Reserved under careful restrictions for extensions, additions, im^
j
.
^
provements, acquisition of sub-company stock and bonds, &o_ 5.879,000
income bonds dated Dec. 1 1910, $8,500,000, bear Interest from
The
earnings (determined as provided In
payable If earned, but cumulative to extent not paid.
The
for each $100 par value,
the condition and manner of casting such vote being fully stated In the mtge
Dlv. on incomes. 1%, seml-annuallv paid SeDt.1911 to Mar. 1913 Inch:
1 H% P»id Sept. 1913; then none till March 1 1917; to Mch. 1 1920,1 )i%
semi-annually (2H% p. a.).
In Aug. 1919 paid 1H% on account of coupon
No. 15 due March 1 1915, and In March 1920 paid 1)4% on account of
V. 108, p. 972; B. 109, p. 887; V. 110,
coupon No. 16 due March 1 1915.
Dec. 1 1912 at 5% per annum from net
the mortgage),
Incomes have at all stockholders' meetings one vote
1088.
p.
RETURN." &c.—See page 5.
•STANDARD
(revised) yearly during Federal control.
Federal Compensation.—$944,453
LATEST
Jan. 1 -Dec. 31
1919.
1918.
Jna. 1-Mar. 31
1920.
Gross
1919.
$1,311,530
138,141
Net
$970,105
def63,261
REPORT.—For year ending Dec. 31
1917.
$4.094,195
defl7l,027
1917 in V. 106, p. 2751.
.
1916.
1917.
1916.
^
$5,000,956
627,906
$42,748
$32,754
earns..$3.805.025 $2,813,761 Rents. Sec
$648,506
Net earnings.
$667,890
$516,083 Fixed interest $619,404
Hire equip.,&c.
654,499
429,978 Int. on inc.(2K) 158,402(1 >£)79,201
Gross
Gross income.Sl,322.389
$946,061 BaL, surplus.
$501,835
$185,600
1919: Gross, $4,094,195; net, def.,
$277,733; Federal compensation, $922,785; other income, $33,905; balance,
after deductions, $141,128.
Income account year ended Dec. 31
1920.
5J2M.—
BONDS.—Superior Short Line Ry. 5s.
to qualify
BONDS.—The
p.
owned and 65 miles leased.
Chicago
common
kprlf 1915coup "not" paid
0 Apr 1
and
1289,
CHICAGO ST. PAUL MINNEAPOLIS & OMAHA RY.—(See Map Chi¬
cago & North Western.)—ROAD.—Elroy, Wis., to St. Paul, Minn., 193
miles; Minneapolis to Omaha, Neb., 378 miles; other lines, 1,178 m.; total,
Federal
(as earned)
do
J To July 1
EARNINGS.—
tract executed).
do
do
do
'20-Apr '23
do
do
1923
NY,PaRRCo;CbI.IllTr&c
1963
A
A
18,794.000
30.475.000
A" A
5 g
5.974,900
text
4.000.000 See
—
Contract.—Signed In Jan. 1920, fixes annual compensation at
$15,880,681, of which $14,912,379 is for O. R. I. & Pac. Ry. and $968,302
is for C. R. I. & Gulf Ry.
V. 110, p. 359.
vis., $9,320,000
do
do
do
D Deo
O Oct
Y or Cbc
1st Nat Bk. N
J July 1 1938
A Feb 1 1951
STOCK.—The $4,300,000 oom. stook, except shtxes necessary
1918 were paid from balance of standard
after providing for all corporate charges.
are
do
directors, have been placed in a voting trust until Deo. 24 1920,
sooner terminated, as provided In the agreement.
Roy O. Osgood,
F. Taylor and Geo. A. Jackson, voting trustees.
...
1883
do
*25
J
Federal
Y. 69. p. 1147.
In November
NfY
N Y
Bank,
CHICAGO TERRE HAUTE & SOUTHEASTERN RY.—(See Map.)—
Ind., 298.09 m.; Blackhawk to Sul¬
livan, Indiana, 18-50 ui.; 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. 3119)9, 374.18miles
Incorporated In Indiana and Illinois in November 1910 as successor of
the Southern Indiana Ity. 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.-8. C. 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.1179.
1916.
$10,071,100
$9,729,005 $19,193,047 $21,992,343
—$12,063,739 $11,373,350 $20,622,243 $23,428,685
$13,830,317 $12,559,142 $13,095,098 $15,350,496
def..def.$l,766.578df$l,185,792sr$7,527,145 sr$18078189
$3,566,903
$3,566,027
$1,779,774
Jran- 1 1920, 1,749 miles, of which 1,680
'26 First Nat
do
'27
do
'23
Owns Chicago Heights, 111., to Westport,
Years.
p.
do
First National Bank,
U S Express Co
1920-1925
J July '20-Jan '21
A Aug
Phila
or
or
pledge d for loans.
The dividends for 1919 and
return
M
J
do
1925
1949
J July
J Jan
N May
S Moh
1 1960
5t
text See text. Deo 1 1960
6.336.055 See
1,000 Ac
Total deductions.—
Balance,
A
5
7,287.000
100
Operating income
income
tl
d 4,244,000
100
Net earnings
$15,126,950 $14,739,238 $23,562,618 $25,797,412
Railway tax accruals—. $5,046,922
$4,998,673
$4,345,202
$3,766,294
Uncollectible railway rev
8,929
11,560
24,368
38,775
Total
A
M
F
4)4
11,200,000
4.300,000
250,000
1.000 Sec
1912
1912
$77,153,311 $69,186,218 $59,690,072 $55,141,668
32,502,435
27,891,233
23,301.086
19,674,370
7,212,114
6,968,938
6,617,564
6,073,091
Passenger
Mail, express, &c
4H
A
J
M
1,000
1,000
8,218
8,250
J
a
1913
REPORT.—For calendar year 1919 in V. 110, p. 1741:
Combined Corporate and Federal!_ Income Account for Calendar
1918.
1919.
1917.
'
6
100
any
8
5
100 &o
.1,669 /1880
\1880
Debengold $2.000,000"stanroed"g; text.Cexo*&r»
Chicago Terre Haute & S E—Stook
5
Bedford Belt first mortgage, not assumed
z
242
Sou Indiana 1st M g (see text) not assumed.GP.zo*
361
1st and RefM $20,000,000 g call 107K--IC.xo*4cr*
361
Income M $6,500,000 call par (cum aft 2 yrs) ...FCx
Equipment gold bonds due $40,000 sernl-ann
x
do
do
(locomotives) $10,000 ann
Chic Union Station—IstMg gu p4cl red.!C.yc»&r*
Chicago Utilities—Common stock $18,794,000
PreFstock 5% non-cum $30,475,000
1st M ser A g 1st lien $20,000,000-Usm.xc*4cr»
do
Ser B g 2nd lien $4,000,000
Usm.xc*«fcr»
Includes b $1,965,000 and c $2,757,000 In treasury,
d On Dec. 31 1917 a further $2,090,000 was held by
comp
e Tenders for $90,656 were received until Oct. 24 1919
1 1934
D June 11927
24,402.000
3.734 000
1,000
1,000
1,000
1,000
1,000 Ac
1880
1895
80
Un.zo*
1 1921
O Apr
A
1.500.000
...
Superior Short Line 1st M $1,500,000 ass
O Oct
A
18,559.086 5 In 1919 F
11.259.859 7 in 1919 F
J
6
529,000
100
100
Chicago St Paul Minn A Omaha—Common stock.—
Preferred stock non-cum Including scrip (see text)
Nor Wis 1st M Lake St C to near Spooner aas'd Je.zo*
&
A
IS
10,000
168,000
2.550,000
1,764.000
1.738,322
1.000
1,000
1 000
Oct 1916 coup pd wh due
First Nat Bk, New York
do
ao
A
J
2,475,000
1,000
1,000
Dividends are Payable
5 g
453,600
cl 2,641,455
1,000
4i
1911
1912
1913
1915
do
do
4cc
1,000 Ac
1911
Bax
Bax
500
and Maturity
5g
$1,905,000
11,000,000
150,000
450,000
3,525,000
5,411,000
bl2,965,000
$1,000
1,0004to
1881
998
12
Cedar Rapids I P A N w 1st mtge gold guar.Ce.zo
B O R & Nor consol first mortgage goldLCe.zo'&r
Where Interest and
Places
Dividend
Last
Date
Bonds
Mile:
RAILROAD COMPANIES
[For abbreviations, Ac., see notes on first page)
[VOL. 110.
^Control.
RAILWAY STOCKS AND BONDS
^Contract.***
40
Coal Tonnage Transported
X1912-13.
X1915-16.
2,470,541
3,669,065
_
*
OFFICERS.—Pres.,
(tCal. Years; xJune 30 Years).
tl916.
4,077,272
tl9l7.
5,414,198
M. J. Carpenter; V.-P., F.
J. Lawlor; Sec.. W. F. Peter.—(V. 110, p. 1088.)
U918.
5.619,097
+1919.
3,712,234
O. Wetmore; Treas.,
★ CHICAGO UNION STATION CO.—Incorporated in Illinois.
Owns
old Union Station and Is building extensive new terminals covering 35 acres,
$47,000,000.
Completion delayed in 1918 by war.
In Jan. 1919
the Director-General of RRs. removed all restrictions upon the construc¬
at cost of
tion, and in order to comply with the terms of certain city ordinances, the
Station Co. has resumed its construction program.
V. 109, p. 770.
Cap.
$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
p. 386: V. 101, p. 129. Equipments of 1917 owned by company, $880,000.
Equipment trusts issued to Director-General for rolling stock allocated
stk., auth., $3,500,000; outstanding, $2,800,000, held one fourth each by
Pennsylvania Co., P. C. C. & St, L. Ry., Chic. B.)& Q. RR. and Chic.
Milw. & St. Paul Ry.
The station will be used by the four proprietory
to this company.
and
r
See article
on page
3.
Jan. 1-Mar. 31
1919.
EARNINGS.—
1920.
Gross
Net...
$7,572,114
1,455,726
.
-
w
f
REPORT.—Report for cal.
...
'jJSU.
■
year
1919.
Jan.
I—Dec. 31
1919.
1918.
$6,264,475 $27,732,018 $24,829,981
1,017,661
4,415,553
3,945 781
TTTWim II1HII
MIIIH—Wl~^~jj—law.—I-IUM—|
JIWMLMJUM J_U1U
1919 in V. 110, p. 1844:
1918.
X1917.
1916.
Operating revenues
$27,732,018 $24,829,981 $21,476,509 $20,855,286
Net, after taxes, &c
$3,101,078
$2,651,912
$4,298,538
$6,185,981
Net oper. inc. (Federal).
2,624,720
x4,219,232
Other income
539,187
478,070
companies and the Chicago & Alton RR.
To procure the necessary funds the company,
during 1919. issued,
pledged as collateral, $6,150,000 of its First Mtge. 5s, dated Jan. 1 1919
(Series B) in addition to $30,850,000 of Series A issued in 1916 (of which
$30,000,000 are in the hands of the public).
$10,000,000 Series C 6Ha
were issued
in April 1917.
Authorized issue, $60,000,000.
The bonds
are guar., prin. & int., 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.)
A CHICAGO
p.
Gross income
Fed'I compensation accr'd
Rentals,
&c
$4,934,795
Common dividends
(net)275,892
2,282,180
788,151
(5%)927,835
Balance, surplus
$660,732
Intertst.
Pref. divs. (7% P-a.)—m
$4,837,725
$6,664,051
$4,934,700 x(4,219,232)
$689,410
$456,266
(net)268,135
2,262,870
2,260,474
2,259,665
788,151
788,151
788,235
927,835
927,835 (7)1,298,986
xAmts. In parenthesis
are
the co.'s
$402,603
corresponding Items
$1,627,754
as near as may
be
r
OFFICER.—Chairman of board, Marvin Hughitt; Pres.,
Y
SV
Jas. T. Clark;
A- Lynde: Gen. Counsel, James B. Sheean
Sec., J. D. Caldwell; Treas., A. S. Pierce.—(V. 110,
p.
969, 1289.)
9
1912 to
652. 1089.
Reorg. per plan of Oct. 2 1911 (V. 93, p. 938, 939, 1386.).
There is owned by subsidiary companies 60 miles of tunnel, designed for
narrow-gauge electric motors and cars, for the transfer of freight between
the various railroad terminals in the City of Chicago and to and from the
downtown business
V. 87, p.
district and between business houses;
see
V. 86. p. 720;
The equipment of the (unprofitable) telephone property
p. 1121. 758. 1301; V. 101, p. 369.
April 1915
unpaid.
V. 100, p. 1256. 1751.
1357.
hasvbeen sold.
coupons
$690,195
UTILITIES CO.—Incorporated In Maine April
succeed (per plan V. 94, p. 938, 939, 1386; V. 94, p. 350) the Illinois Tunnel
Co. and Chicago Subway Co. foreclosed. V. 94, p. 911, 1056, 1118; V. 96,
V. 103,
EARNINGS.—Since 1913 no income from subsidiary companies. Figures
presented at the annual meeting Jan. 22 1918 Indicated a deficit for the
f bicago
Tunnel Co. In 1917 of $100,200. comparing with a deficit erf
$31.138 in 1916 and $25,661 in 1915.
Deficit for 1918. $75,226.
Pres., S. W. Tracy; Sec., L. J. Gundlach: Treas., L. P. Ray.
Chicago
office, 754 W. Jackson Boul.—(V. 106, p. 394) Jl
May, 1920 |
RAILWAY STOCKS AND
BONDS
41
MAP OP
AND
SOUTHEASTERN RAILWAY
^Control.
RAILWAY STOCKS AND BONDS
42
RAILROAD
Last
Miles
notes on first page]
Date
Par
Amount
Rats
When
Road
COMPANIES
tFor abbreviations. Ac.. see
Bonds
Value
Outstanding
%
Payable
"
«■*
_—
$5,000,000
2,840,667
46,947,000
1915
1903
1.000
1.150,000
<3 w
$2,675,000
5 g
336,000
5 g
M
F
426,000
825,000
1,338,000
300,000
5 g
A fid O 15 Oct
1902
1912
1917
o©
1915
1916
mm mm- —
—
—
1902
1914
1,000
500 Ac
1911
1916
1,000
1,000
1901
1915
1,000
1,000
1871
1.000
100
Leases.—The station terminal properties. Including 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 Illinois
RR., Chic. Ind. A Louisville Ry., Grand Trunk Western Ry., Wabash Ry,
and 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
proportionate maintenance, Ac.
The "Belt Railway" division. Including the clearing yard upon which
(mostly pledged to secure the 1-year 6% notes of
1917) are a first lien. Is operated under a 50-year exclusive lease by the Belt
Ry. Oo. of Chicago, all of whose stock Is owned by the following 12 roads:
Pennsylvania Co., Atch. Top. A 8anta Fe Ry. Co., Illinois Central RR.
Co., Chic. Burl. A Quincy RR. Co., Chic. Rock Isl. A Pacific Ry. Co.,
Chen. A Ohio RR. Co. of Indiana, Minn. St. P. A 8. 8. M. Ry., Chic. A
East. III. RR., Chic. Ind. A Louisv. Ry.t Erie RR.. Grand Tr. West. Ry.,
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
Cfo. 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.
•he First A Ref. M. bonds
Compensation.—$1,509,530 yearly during Federal control
(con¬
tract executed).
7H
6
'97
6
'98.'99.1900 to Mar31'206
6
6 yearly
BONDS.—The General Mtge. bonds are drawn at 105 and Interest.
Of theOonsol. 4s of 1902 (auth. Issue $50,000,000), sufficient are re¬
served to retire General 6s.
V.92, p.
V. 87, p.
36, 1604, 1603;
V. 88. p. 100. 374;
394; V. 93, p. 1668: V.97, p. 1425: V.98, p. 235, 452;
V104, p.862.
Of tne 1st A Ref.bonds of 1912 ($200,000,000 auth. issue), with Interest
$50,000,000 were reserved to refund existing bonds,
$50,000,000 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, $21,000,000 being pledged under the 1-year 6% notes of 1917
(see below) and $1,250,000 held In the Interest of the Belt Ry.
No addi¬
tional First A Ref. bonds can be issued until the aggregate annual rentals
payable above all oper. expenses, taxes. Ac., shall equal the interest, in¬
cluding bonds proposed.
The leases provide that the five owning compa¬
nies will jointly and severally pay the interest on the $22,250,000 bonds,
also a further $159,000 yearly for a sinking fund until $22,250,000 has been
redeemed. V. 101, p. 693, 448; V. 100, p. 1671; V. 105,p. 388.
The $15,000,000 one-year 6% collateral gold notes of 1917 secured by de¬
posit of $21,000,000 First & Ref. 5s, extended to Sept. 1 1918 ($14,370,000),
were again extended to Sept.
1 1920 at 7% enough assents having been
received.—V. 109, p. 774, 981, 1179, 1366. '.A further $1,000,000 note
issue was sold Sept. 1 1915 and extended to Sept. 1 1920.
V. 105, p. 176,
not
exceed
to
5%,
CINCINNATI BLUFFTON & CH. RY.—Dismantled.—V. 106.
p.
1796.
A CINCINNATI FINDLAY & FORT WAYNE RY.—Owns Findlay. O.,
Wayne. Ind., 78.4 miles; to East Mandale, south to Ottoville, 6.1
to Fort
V. 78, p. 286, 342. 701.
Coupons due Nov. 1914 were d'tfaulted
Operations abandoned in 1918.
Bid in for $200 000, the
upset by the bondholders' committee, at foreclosure sale on Nov. 18 1918.
V. 107, p. 1481, 2008; V. 108, p. 378,1164.
Y. 99, p. 1451.
Committee
for
Co., N.
First Mtge. 4s.—F. N. B. Close
Y., depositary.—(V. 108, p. 378.)
(Chairman).
INDIANAPOLIS & WESTERN RR.—Owns Hamilton,
O., to Springfield, 111., 284 miles; trackage C. H. A D. for passenger trains
Hamilton to Cincinnati, 25-miles; other trackage, 13 miles; total Jan. 1
1918, 322 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
(unless
previously terminated by vote of the trustees thereunder). Voting trustees
are Frederick H. Ecker, George K. Johnson, H. F. Whitcomb, L. Edmund
Zacher, J. A. Barbey. Equitable Trust Co., agent for trustees.
BONDS.—The
new mtge. is limited to $12,000,000.
See table.
Equipment trusts of 1916. V. 102, p. 521, 1340, 1435.
Gross
Net
1920.
1919.
Jan, 1 -Dec. 31
1919.
1918.
$1,074,558
$660,093 $3,204,570 $3,137,152
def. 12,612def. 104,085def.385,085 def.13,911
paid
not
F
fid
A Feb 1 1920 2% Cincinnati
Penn RBCo.NY
MAN Nov 1 1942
Treas. Pittsburgh, Pa.
fic
8 Mar 1 1934
4
4 g
M
6 g
J
D June 15 *20 6H Cincinnati
do
June 1 1920 1H
15 Nov '20-May'2l Bankers Trust Co
D June 20-June'26 Guaranty Trust Co.
A
Q—M
MAN
A
J
March
J
A
M
A
J
A
N Y
Mar 1 1920 3% NY. Grand Central Ter'l
Guaranty Trust Co, N Y
J Julv 1 1951
8 Sept 1920 to *25 Commercial Tr Oo Phila
Wlnslow.LanlerACo^N Y
D June 11921
Cal. Year—
1918.
1917.
1918.
1917.
earns—$3,137,152 $2,639,537 Gross income.
$481,486
$508,538
Oper. income, df.23,720
382,930 Rents, Ac
159,937
104,469
Stand, return.
x422,2l3
Interest
181,916
181,306
Other income.
82,993
125,608 Balance, sur—
139,633
222,763
Gross income.
481,486
508,538
x As certified by I.-S. C. Com. but not accepted by the company.
B.
OFFICERS.—Pres.,
A.
Goebel*
F. J.
Sec.-Treas.,
Worthington;
—(V. 110, p. 77, 164.)
★ 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
$1,000,-
$100 shares, issued for purpose of control.
There is authorized
000 of first pref. 4% cum. stock secured by mtge. to the Union Savings Bank
A Trust Co. of Cincinnati, as trustee, and rentals paid by Ches. A Ohio and
Louisville A Nashville, and subject to call on any int. day after Feb. 1 1915
In
at
V. 79, p. 212: V. 80, p. 1728, 2398, 2620.
Rentals received for
ending Dec. 31 1918, $33,443; divs., $33,000.
Pres., Chas. E. Gra¬
p. 2620.)
105.
year
ham.—(V. 80.
NORTH. RY.—Owns Cincinnati.
★ CINCINNATI LEBANON &
O.. to
Dayton, 55 m.; from MIddletown June, to MIddletown, O., 14 m.; Hemp
stead to Clement, O., 5 m.; branch, 1 m. V. 99, p. 1831; V. 100, p. 139.
are guar., p. A I, by Penna. Co.
V. 77, p. 86; V. 98. p. 610.
compensation $111,985; other income, $26,008; charges,
$15,107.—(V. 100, p. 900.)
A CINCINNATI NEW ORLEANS & TEXAS
Cincinnati Southern Ry., owned by city of
Cal. year 1918;
$122,886; surp.,
PACIFIC RY.—Operates
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
under renewal to be $1,050,000 yearly for first 20 years,
$1,100,000 for 20 years; thereafter $1,200,000. V. 73, p. 722; V. 74, p.
V. 95, p. 1402.
Pref. stock has no voting power.
V. 74, p. 528,829.
rental
DIVIDENDS.—
5
5X
5
8
T2-T5.
'16.
'17.
11 y'ly
J'05. '06. '07-T0. *11.
%\
Common
12 X
13
'18.
13
1966
then
1251;
'19
13
and from Dec.
1916 to June 1920 paid 3M % extra in June and Dec.
Majority of common
stock is owned by S. W. Construction Co., which in turn is controlled by
Ala. Great So. RR.M
Ac. V.
61, p. 26; V. 65. p. 1173.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Dividends
on common
RETURN,"
"STANDARD
(contract
$3,596,920
stock semi-annually (J. A D.), 3%,
page 5.
Federal compensation*
The company refused the six montha
Ac.—See
executed).
extension of the Government guaranty.
Jan. 1-Mar. 31
Jan. l-Dec. 31
1920.
1919.
1919.
1918.
$4,748,478 $4,136,656 $16,313,685 $15,478,641
910,063
722,134
814,590
2,874,601
EARNINGS.—
Gross
Net
1918, V. 109, p. 1986:
Rents, &c.
Divs.
Bal.. Sur.
$
$
$
$
1918-15,478,641x3,541,039
110,181 2,518,152 511,370
806,782
1917—13,051,819 3,265,771 1,429,986 2.026,783 511,370 2,157.603
1916-12,019,397 3,852.140
911,235 2,120,315 481,470 2,161,591
REPORT.—Year ending Dec. 31
Net.
Gross.
Year
Year
Year
Oth. Inc.
$
Standard return.
Dividends include yearly $122,670 (5%) on
x
(13%) on the common stock.—(V. 110, p.
pref. and in 1918 $388,700
969. 2075.)
★ CINCINNATI NORTHERN RR.—(See Maps Neto York Central
—Owns
Franklin, O., to Jackson, Mich., 205 miles; branch,
Lines.)
Lewis-
quarries, 1 m.; trackage (O. O. O. A St. L.)t Franklin to Cin¬
cinnati, 38 miles; at Jackson, 1 mfle.
On Dec. 31 '18 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. 3%: 1912
and 1913, 1M%\ 1914 and 1915, none; 1916 to 1920, 3% yearly March 1.
burg, O., to
Jan. 1 to
LATEST EARNINGS.
CINCINNATI
EARNINGS.—
coup
N Y, Equitable Trust Oo
N Nov 1 1965
do
do
A Aug '20-Feb '26
'20-Apr '26 Penn Coforlns onLives, Ac
A
A
Bankers
CIN. HAMILTON 6c DAYTON RY—SeeB. A O.—(V. 110, p. 261.)
LATEST
'14
REPORT.—For 1918 in V. 110, p. 164.
Gross
Jan. 1 -Mar. 31
text
Nov
MAN Nov 1 1923
z
$
Equipment trusts Issued to
Director-General for rolling stock allocated
to this company.
See article on page 3.
Pres., H. G. Hetzler, Chicago; V.-P. A Gen. Mgr., E. H. Lee; Gen.
Counsel, C. G. Austin, Jt.; Sec. A Aud., R. L. Porter; Treas., J. E. Murphy.
—(V. 110, p. 871,969, 1642).
Trust
Chicago, Cent Trust Co
See
Gross
606.
miles.
8 Sept 1 1920
fid
"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
'95. *96.
&
2,990,000 13 in 1919
2,453,400 5 In 1919
4H
100,000
4M g
1,170,000
text
3.000,000 See
4
1,000,000
258,000
5g
7 g
1.800.000
100
100
545
The
fid
S Sept 1 1962
S Sept 11920
N Y, J P M A Co. AOhia
M
M
7 g
6
4
J July 1 1952
fie
M
See text
1.00)
5 m.; total, 51 m.; total traok, Including 2d, 3d, 4th tracks and sidings,
m.; also owns real estate, car yards, warehouses, elevators, Ac.
clearing yard embraces 1,810 acres.—V. 105, p. 388.
J
4 g
1 1932
Deo
Q—M
6 g
14,370,000
1.000.000
1916
★ CHICAGO & WESTERN INDIANA RR.—{See Map.)—Owns a valuable
terminal system affording entrance into Chicago to the roads named below.
Its lines extend from Dearborn Station, Polk St., Chicago, to Dolton, 17 m.;
also to Indiana State line, 10 m.; to Cragln, 21 m., and to South Chicago,
—
Payable
Chicago
J P Morgan A Co, N Y
aril Tr A S Bk.Chlo; ANY
Mar 31 1920
6
$100
1,000
1,000 Aq
1,000 Ac
1,000 Ac
1,000
1882
—_
DIVIDENDS.-
Where Inter en and
Dividends are
>':V
Chicago & Wabash Valley Ry—See Chic. Ind. A JLou
Chicago fic Western Indiana—-Stook (see text) ——57.83
General mortgage gold Blnk fund subj to call 105-xo*
Cons M 150.000.000 g
IC.xo'Ar*
First and Ref M $200,000,000 ———-Ba xc» Ar*
Collat trust notes g seo'd by 1st A Ref M red 100 H Ba
Notes taken by Belt Ry and sec by 1st & Ref M5..
Chicago Sc. West Michigan—See Pere Marquette RR
Chicago Wisconsin & Minnesota—-See Wisconsin Cent
Choc 6c Mem—Choc Okla & Qulf—See Ch RI&P
Cincinnati Dayton & Ironton—See Cinoln Ham A Day
91
Cincinnati Find 6c Ft W—1st M g guar end red—N.o*
RR
Cincinnati Hamilton 6c Dayton—See Bait & Ohio
Cincinnati Ind 6c Western—1st M $12,000,000
284
gold redeemable on any interest day at lOo — Eq c*
Equipment trust $28,000 due semi-an—
Eq
do
$32,000 due s-atoApr'21then$33,000_PeF c*
Text
Cincinnati Inter-Terminal RR—l«t Pref stk (see text)
76
Cincinnati Lebanon & North 1st con g gu p A1-—xc*
29
Dayton Leb A Gin RRAT—First M g call 105 ass d
Cin fit Musk Val—See Cleve Akron A Cincinnati Ry.
Cin New Orl Sc Texas Pac—Common stock $3,000,000
Preferred stock (aAd) 6% cumulative $3,000,000—
Equip trusts Ser O due $50,000 s-a (V 92, p 1031) Bax
Equip trust Ser D due $90,000 s-au
—
Cincinnati Northern—Capital stock.....—.—
206
1st M $3,000,000 gold
a.xc*Ar
Equip trusts due $43,000 annually
—k.c*
86
Cincinnati Richmond fit Ft W—1st M gold lnt guar.o*
Per cent
Places
Dividend
and Maturity
la vllle
Federal
[Vol. 110.
Net
Federal
1920.
$772,268
233,472
-
Jan. 1 to Dec. 31
1919.
1918.
Mar. 31
1919.
$653,187
117,781
$2,872,268
710.673
$2,812,979
470,041
Compensation.—$317,628 yearly during Federal control (contract
executed).
Operating
Calendar
Year—
Revenues.
$2,812,979
2,440,830
1918
1917
Net (after xAvailable
Ord.Tazes). Income.
$340,076
$326,786
578,933
428,692
Fixed
Dividends
Balance,
Charges.
$89,967
138.463
(3%).
$90,000
90,000
Surplus.
$146,819
200,229
xThis includes in 1918 U. S. Govt, compensation, $317,628,
and misc..
$9,159.
Pres'.,
W. K. Vanderbilt Jr.—(V. 107, p. 1003.)
★ CINCINNATI RICHMOND & FORT WAYNE RR.—Owns from Rich¬
mond, Ind., to Adams, Ind.. 86 m.; leases 5 m. of P. Ft. W. A C.
Now op¬
erated (Jan. 1919) by Grand Rapids A Indiana Ry.
Rental, net earnings.
Int. is guaranteed by the Pennsylvania Co. and Pitts. Cin. Chlo. A St. L Co.
Jointly(the P. C. C. A St. L. taking the place of the Cin. Ham. A Dayton
Penn. Co. owns $1,287,850.
Stook, $2,186,600 (par $50); ~
~
In 1888).
Year
ending Dec. 31-
Gross.
1918
1917
1916—
♦
$1,085,729
920,636
Net.
♦$157,248
$280,698
237.250
Rent from lease of road and other income.
Int., Ac.
$145,792
$210,834
190,980
Bal., Sur.
$11,456
$69,864
46,270
MAT, 1920.]
RAILWAY STOCKS AND BONDS
43
MAP
OF
CHICAGO & WESTERN INDIANA
BELMONT
RAILROAD COMPANY'S
¥
LINES
FULLERT.OW AVE.
SHOWING
CRAGI
CONNECTIONS
NORTH
C. &W. I. R. R.
The Belt
AVE,
CHICAGO
Railway of Chicago
(C. & W. I. R. R. Co. Lessor)
Team
Track,
SCALE OF MILES
C.
1ST.
M. &
^
P.
LAKE
^
MADISON
'Chicago
C. & N. W. station a
u^ion stat on
pfil°FON,
Jrand central
station!
BE.1
ImZZv
22 ho
22nd
fK W. 22cLStr"Sta..
TeamTrack
Ihawthorne
318T,
30TH
LEMO
47th
BELT {RAILWAY
-Team
|
Track^
63rd
CLEARING
BELT RAILWAY
BELT RAILWAY
burn
Park
79th
87th
CONNECTING
LINES
Atchison, Topeka & Santa Fe Ry,
Baltimore & Ohio
Chicago Terminal R. R.
Baltimore & Ohio R. R.
Chesapeake & Ohio Ry.
Chicago & Alton R. R.
1 03kq
Chicago & Eastern Illinois R. R.
Chicago & Erie R. R.
It
rack|
DEERINcf
jam
Chicago & Illinois Western R. R.
PUL^LMAl
Chicago & North-Western Ry.
SO.
Chicago & Western Indiana R. R.
Chicago. Burlington & Quincy R. R.
Team Tirack
Chicago Great Western R. R.
Chicago, Indianapolis & Louisville Ry,
KENSINGTON
Chicago Junction Ry.
Chicago, Milwaukee & St. Paul Ry.
Chicago River & Indiana R. R.
Chicago, Rock Island & Pacific Ry.
Chicago Short Line Ry.
Chicago, West Pullman & Southern Ry.
Cleveland, Cincinnati, Chicago & St. Louis Ry.
Elgin, Joiiet & Eastern Ry.
r
blue
island
Grand Trunk Ry.'
Illinois Central ft. R.
Illinois Northern Ry.
Indiana Harbor Beit R. R.
Manufacturer's Junction Ry,
Michigan Central R. R.
Minneapolis, St. Paul & Sauft Ste. Marie Ry.
New York Central
New York, Chicago & St. Louis R. R.
Pere Marquette R. R.
Pittsburgh, Cincinnati, Chicago & St Louis Ry.
Pittsburgh, Fort Wayne & Chicago Ry.
Pullman R. R.
Wabash R. R.
dolton
i
M
★Government
44
railway
Contract.
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
Cleveland Akron & Cin—Stook $12,000.000-Clev Ak & Columbus gen M {now first) gold
26
-
Series B
1887
$900,000
7,500.000
1.800,000
1,023,000
1900
500 &o
1,000
1900
1,000
14
1898
1,000
100
1,827
1919
100 &c
391
62
1884
1890
45
1890
187
1886
269
194
1890
1890
204
1,021
44
$3,000,000 gold gu_Ce.xo*&
Springfield Dlv lien held by Peoria & East Rv
Debentures secured by mortgage of 1919 —Gc*Ar*
Cleve Cine Chic 6c St Louis (Comet)—Debentures——
Big Four Ry equip trust due $373,000 yearly d.c»
do
do
equip trusts g guar due part yearly
ao
do
equip trust due $237,000 yearly——C*G
Central Grain Elevator 1st M assumed
Obligations of Proprietary Lines.
3,205,000
650,000
1,103,500
5,000.000
9,194.000
1,000
500 Ac
1,000
1,000 Ao
1,000
1903
4.000.000
1890
28,579.000
4,161.000
3 000.000
5,000,000
5,000,000
9,650.181
3.730.000
1.000
1911
1910
500$frAo
1914
1,000 Ac
1915
1.000
1917
1,000
170
118
1.000
1888
1903
1,000
1910
a.xc*Ar»
thatCo
A
,
Dec 19 i 6
4% Treasurer, Pittsburgb.Pa
Wlnslow,LanierACo.N Y
MAS Moh 1 1927
6g"
4 g
F
F
A
F
Aug
Aug
Aug
Sept
A
4 g
4 g
A
do
do
1 1934
de
do
J July 1 1940
MAS Sept 1 1940
1 1939
J
A
J Jan
do
do
do
do
do
do
Aug 1 1936
Q-F
4 g
6 g
J
4 g
J Jan
A
J
4 g
4 g
A
4 g
MAN Nov 1 1990
do
do
4 g
4 g
J
A
do
do
J
A
J July 1 1991
D June 1 1993
do
do
5 g
4 g
J
A
D June 1 1993
do
do
4
March
4M
O Apr
1 Apr
1 1953
1 1940
J Jan
A
A
Treas. office. New York
1 1931
Treas
g
5 g
6
8
rental payable In gold
and 5% on bonds, the
and equal to 6% on $1,000,000 stock, par $50. taxes
latter being guar., p. A 1., by end.—(V. 89, p. 1141.)
AKRON A CINCINNATI RY.—(See Maps of Pennsyl¬
to Columbus, O., 144 miles; Killbuok
148 m.; Apple Creek branch, 9 m.;
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 $7,497,588
of the $7,500,000 outstanding stock.
Operated by Pennsylvania RR.
Co. "Western Lines from Jan. 1 1918, under arrangement terminable on
0 months' notice, the net earnings to go to C. A. A C.
V. 93, p. 1669.
First dlv., 2%, paid Sept. 25 1911; in 1912, 6% (M. AS.); 1913, March, 3%;
1914 and 1915, none; 1916, Dec., 4%; since, If any, not stated.
Of Cleveland Ak. A Col. 1st Consol. gold 4s of 1940 (Commercial Tr. Co.,
Phila., trustee), $1,023,000 are guar., p. A L, by the Penn Company.
★ CLEVELAND
vania RR.)—Owns from Hudson, O
,
to Trlnway, 34 m.; Morrow to Trlnway,
total owned, 335 m.
Owns a fourth
deductions, $463,242; surplus, $119,758(V. 98. p. 522.)
★ CLEVELAND CINCINNATI CHICAGO & ST. LOUIS RY.—{See Mapi
A.
Y.
Central
Lines.)—ROAD.—Radiates
from
Indianapolis, Ind.,
westerly to Chicago, Peoria, Cairo, 111., St. Louis, easterly to Sandusky.
Cleveland. Columbus and Cincinnati, O., and southerly to Louisville.
Miles
Owned Directly—
Miles.
Cleveland, O., to Springfield, 0—183 Cincinnati Sandusky A Cleve. RR.—
Sandusky, O., to Day'n, O.. Ao.170
Gallon, O., to Indianapolis
203
Trackage into Cincinnati, Ao.
65
Springfield to Indianapolis....
136
Delaware to Sprlngflela
62
50 Traokage Into Jeffersonvllle
Cincinnati to Lafayette
l70 Trackage Into Toledo (V. 79, p.
Harrison Branch
7
102.3, 2696)
54
Cairo to Danville
260
Indianapolis to East St. Louis
249
Included
Total
MAN May 1 1920
1 1928
A
J Jan
3% Treas
MAN May 1
A
J July 1
4X g J
in
earnings
Other
x63
Cincinnati Wabash A Mich. Ry.—
Benton IIar. to Rushv., Ind.x204
Ind
Hagerstowu,
Mt.
Loulsv.
Ry.—
Springfield. O., to Pekin, III
201
Vernon Greensb. A Rushv. RR.—
Rushville to No. Vernon, Ind.
Ev&nsvllie Mt. O. A Nor. Ry
A Jeffersonv.
Total of system
Eastern
46
2
Gllead Short Line
Bridge.
_
Trackage 111. Cent. Into
On percentage basis
Operates Independently—
Dayton A Union RR.*
Chlo.J
♦See
96
this
*4
Dec 31 '18 .2,650
47
Chicago Railway Co., the Cleveland Columbus Cincinnati A Indianapolis
Railway Co. and the Indianapolis A St. Louis Railway Co., made In July
1889, per plan In V. 48, p. 427. Of the com. stock, $30,207,700 was on Dec.
81 1917 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 company Is also one-eighth owner of Peoria A Pekin Union Ry.
(through the Peor A East. Ry.), one-fifteenth owner In Terminal RR,
Association of St. Louis, and two-fifths owner of Indianap. Union Ry., and
tnlon Depot Cent. Indiana Ry.,
Bart owner ofof Columbus, DaytonCent. Union Dayton A Ry. of Cincinnati,
Union Ry., Depot
A Union RR., Muncle Belt Ry.. operated independently.
Agreement to operate Evansville A Indianapolis RR. for a test period of
with option of purchasing entire capital stock.
not exceeding three years,
'16
'17.-U9
'20
Com —% )
4 y earl /
122000
OOOsee
Pref...% J
5 y earl 7
555
553**
0
2 J*
5
text.
Divs. on pref. stock July 1916 to April 1920,1H% quar. (5% per annum.)
REFUNDING AND IMPROVEMENT MORTGAGE.—A direct lien
1,827 miles of railroad owned and
on
—
REPORT.—For 1918, V. 108, p.
Year ending Dec. 31—
Miles operated
Railroad revenues
Operating income (after taxes)
compensation
Federal
2324, 2341; V. 109, p. 270.
1918.
1917.
1916.
2,396
2,387
2,387
$71,403,970 $52,650,920 $46,678,240
$15,962,011 $11,848,205 $13,763,702
9,938,597
1,563,625
833,680
Gross corporate income
Rentals of leased lines
Interest
company.
14-'15.
—
Jan. 1 to Dec. 31
1919.
1919.
1918.
$15,445,290 $73,856,456 $71,403,970
2,575,247
16,429,004
19,508,681
1 to Mar. 31
1920.
1,297,643
50
A
on
Jan.
$21,167,601
6,397,388
Other income
HISTORY, Ao.—A consolidation of the Cincinnati Indianapolis St. Louis
See that company below; also V. 110, p. 1186.
DIVS. 1
'07. '08. *09. *10. *11. '12.
13.
V. 95. p. 890.
FINANCES.—Capital stock per mile of road owned, directly or through
proprietary cos., Dec. 31 1918. $33,684; bonded debt, $54,071.
In April 1919 the annual installments on equipment trust certificates
outstanding amounted to $1,359,739.
The Director-General of Railroads
during 1918 allotted to company 2,000 freight cars, estimated to cost
$5,736,000, and 35 locomotives, estimated to cost $1,780,000.
This equip¬
ment has been or is being constructed under contract and the financing of
the cost has been or will be arranged between the Director-General and the
company.
V. 109, p. 2341. V. 108, p. 1511, 2342..
42
Seneca RR
1
GOVERNMENT CONTRACT.—As of Dec. 27 1918, jointly with Muncie Belt Ry., executed an agreement with the Director-General of Railroads
providing, during Federal control, for an annual compensation of $9,945,738,
of which the compensation of Muncie Belt Ry. amounts to $7,141.
V. 108.
p. 2341.
See "Finances" below and "Ref. A Impt. Mtge." above.
*206
Northern
A
Leased and Controlled—
Peoria A
'***
Jointly 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 1918
on account of equipment so acquired by the C. C. C. A St. L. being: Issue
of 1907,
$986,759; 1910, $1,397,380; 1912, $1,439,012; 1913, $1,167,337.
V. 85. p. 1401; V. 86. p. 168; V. 88, p. 761; V. 90, p. 1677; V. 93, p. 1726.
Equipment trust 1917, V. 108, p. 973, 1060, 2329, 2341; V. 105, p. 72;
V. 106, p. 2021; V. 107, p. 695.
See "Finances."
Equipment trusts issued to Director-General for rolling stock allo¬
cated to this company.
See article on page 3.
Report of Peoria & Eastern Ry. Income Bondholders Committee as to
settlement, V. 110, p. 1742.
Guarantees
Net
Operated; earnings kepi separate—
Cincinnati
Kankakee
57
Four)
Wlnslow, Lan A Co.,N Y
Guarantees Evmsv. Mt. Carmel A Northern Ry. bonds.
EARNINGS.—
90
....
(All owned by Big
J Jan. 1
above.
Gross
Leased—(x entire stock owned)—
Cincinnati Lafayette A Chlo. Ryu
White Water—Harrison, Ind. to
York
do
Chic. Ind
A St. Louis Short Line Ry.. Cent. Ind.
Ry. and
8pringfield Uai n Depot Co. bonds. V. 77, p. 510. 517, 769. 1363, 2280:
v
78, p. 1906. '461: V. 79. p. 2589: V. 95, p. 1541.
As to the $9,650,181 4s sold May 1910, payabie in francs, and $10,000,000
4Hs sold in June 1911. see V. 89. p. 720, 778. 1141: V. 90. p. 1238. 1290.
1424, 1554; V. 91, p. 1710; V. 92, p. 1700.
Also see "Ref. A Impt. Mtge."
2,396
Dayton to Ludlow Grove....... 46
New
do
do
Farmers Loan A Trust Co
1965
Cincinnati C hloago A St Louis
A
J
1953
1960
office.
do
J
§ g
2
4
Guar.
(Double track 561 miles.)
56
Hilisboro to Lenox
York
MAN Various
5
Indianap Un Ry Gen & Ref M $10,000,000 See text
5go
Louis & Chi cago—Se e Clevela nd
Cleveland Columbus Cincinnati & Indianapolis—Cleve and I adiana oolis St
RR
Cleve Lorain 6c Wheeling—See Baltimore A Ohio
50 N'n Oct *19
A
A
O New—see text
4H
Cleve & M V—Pref stk
cum ($2,851,800 auth)
See text. Jan
1 1938
5 g
1,000Ao
123 1888
2,936,000
Oons M (now 1st) $3,000,000 g
Ce.xcAr
Cleve & Mar—See Toledo Columbus A Ohio Riv. Ry.
★ CLEARFIELD & MAHONING RY.—(See Map Buf. Roch. A Pitts.)—
vns road, completed In 1893, from Du Bols Jet., Pa., on Buf. R. A P., to
on Beecn Creek RR.. 26 miles.
Leased during corporate existence
and renewals thereof to BulTalo Rochester A Pittsburgh—which see—at a
New
Guaranty Trust Co N Y
J July
1920-1929 Comm Tr Co. Philadel'ta
D To June 1927
Guaranty Tr. Oo. N. Y.
See text
O
office.
Morgan,HarjesACo,Paris
D June 11930
D To June 1929
6
Louisville A JetTersonville Bridge 1st M—See
Clear field
Where Interest and
Dividends are Payable
30 Wall Street.New York
1 1943
Jan
Places
Cheoks mailed
July 11920
,
A
See text
428.997
2,571,000
750,000
2.118,000
60
Cleveland—Preferred stook.
J
J
1.150.000
1,896,000
186.000
1905-6
Consol (now first) mtge $3,000,000 gold—AB.zo
Central Indiana 1st M (guar ]A of $1,500,000)-Cexf
Evansv Mt Car & No 1st M $5.00S,000 gu
6,695.000
AO
1.000
1,000
1,000
1,000
6
5 g
Dividend
and Maturity
110.
do
do
1 1940
do
do
11940
Penna RR Oo, New York
11948
1,667,000
A
1 1910 2% Treas office. New York
47.028,700 See text M
do
do
5
Apr 201920 1%
Q-J
9,998.500
:
do
do
J
&
J July 1 1929
6 g
15,000,000
1,000
1893
1893
136
-
1891
1.021
650.000
495,000
100
Oh I A St L S L 1st M
Cincinnati Sandusky &
1893
} 187,
c*
$4,000,0001 guaranteed p & 1 end
gold sinking fsnd
J not guaranteed_xc*
Oln A Mask Val 1st M $2,000,000 g gu s t
F.xo*
Cleveland Cincinnati Chicago A St Louis—Com stook
Preferred stock 5% non-oumulattve
Refunding A Impt Mtge callable 103
G.c*Ar*
Underlying Bonds—
Cincinnati Indianapolis St Louis A Chicago
Gen 1st M $10,000,000 g s f not drawn—Ce.xo &r
01 Col C & I Gen oons M ($12,000,000) g—Us.xc'Ar
Clev Cin Chlo & 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 coll tr gold ($727,000 In s f) _Ce xoAr
Clnoin Wab A Mioh Dlv first mtge gold_._Us.xo*
Gen M 100 years for $50,000,000 gold.... Ba.xo*A
First oonsol. mtge
$50
1,000
100
Sfearf'd & Mahoning— Stook 6% rent 11,000.000 auth
First mortgage gold guaranteed BR4 P—G.xo*Ar
do
Last
Date
Road
first pave]
(VOL
Control.
Miles
RAILROAD COMPANIES
[For abbreviations, Ac., see notes on
APrivate
bonds
stocks and
the company's interest in 568 miles
rights; total. 2.396.
on
bonds, Ac
incl. interest
Hire of equipment,
Other rents
$10,772,278 $13,411,830 $15,061,345
$561,280
$566,679
$571,041
5,085,884
4,737,267
4,798.088
1,804,642
519,461
141,315
924,814
747,679
74 825
^ar
—
" 22l",502
Miscellaneous!!—II——172^265
Equipment depreciation account
Items applicable to prior period
Dividends on preferred
Balance,
surplus.
"300,169
750,000
1,616,343
(5%)499,925
$2,620,441
^
(5)499,925 (3**)374,944
$4,656,972
$6,999,964
H. Harris and
Barger, N. Y.
Jr., Fred'k A.
Vanderbilt, Chauncey M. Depew, Geo. F. Baker. Wm. Rockefeller, H. S.
Vanderbilt, Walter P. Bliss, A. C. Brown, R. S. Lovett, New York; A. H.
Smith, L. J. Hackney, Samuel Mather and E. S. Harkness, Cincinnati.—
Festus J. Wade, St. Louis.—(V. 1X0, p. 969, 1186, 1642.)
OFFICERS.—Pres., A. H. 8mith Jr.; Vice-Presidents, A.
J. Carstensen; Sec., Dwight W. Pardee: Treas., Milton S.
Directors.—William K. Vanderbilt, Wm. K. Vanderbilt
★ CLEVELAND & MAHONING VALLEY RY—Owns from Cleveland. O..
Penn. State line. 81
m. (77
double
track); Nlles, O., to Lisbon, O,
to
36m.; Girard to Youngstown. O., 6 m.
Leased to Nypano RR. (formerly
N. Y. Penn. A Ohio) under new lease dated 1917; rental, $550,967, with an
The shareholders voted Feb. 23 1917 (a)
(a. A d.) stock for impts., elimination of grade
of railroad operated under lease, contract or trackage
additional amount contingent.
V. 109, p. 270
to
,
3 70.
Issue bonds beyond $25,000,000 (incl. $20,000,00
auth. Series "A" bonds), but not for over 80% of the cost of work done
or. of property required and with the consent of a majority of the pref. stock •
The
and
company
may
only when the annual Income applicable to interest charges out of
18 months next preceding such issue, shall not be less than 1H times interest
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
and 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
4Hs of 1911
be issued
are
secured by the new mortgage on a parity with all bonds to
thereunder.
The financial plan outlined in 1919 resulted in the sale in July (V. 109, p
270) of $15,000,000 of the new bonds, to provide for paying or reducing
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. Co. $2,266,824 on account of moneys advanced for
the purchase of coal lands.
OLD BONDS.—SI. Louis Division bonds, see V. 52. p. 42-45.
The 100-year mortgage Is limited to
$50,000,000.
On Dec 31 1914
$17,090,000 Gen. 4s were reserved for prior liens (exclusive of Cairo division.
Peoria Division. Michigan Division and the St. Louis Division west of Tem
Haute), and the balance for equipment, construction and betterments, Ac..
$1.000.000 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. 2144.
short-term
issue
$2,851,800 pref.
crossings, Ac. (none issued to Oct. 15 1917); (6) to make a modified lease
for
9 1917, during the corporate existence and all exten¬
Nypano RR. Co., a subsidiary of the Erie Railroad
Co. V. 104, p. 163.
Coup. int. is J. A J., reg. int., Q.-J.
Common stock is
$3,259,200, or which $3,258,400 Is held by "Atlantic First Leased Linea
Rental Trust Co., Limited," of London.
Dividends: in 1906 to 1911,
11.40%: 1912, 8k%: 1913. 11-20%: 1914, 11.25%: 1915. 11 40%: 1916.
11%; 1917, 11.75%; 1918, 10.75%; 1919, Jan.. 25*%: April, 2H%; Oct.,
1919 to Apr. 1920, 25^%.—(V. 104, p. 1701).
999 years from Mar.
sions thereof, to the
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 in.; trackage. Rochester to Pittsb. (P. Ft. W. A Chic.), 26
m.; other trackage, 23 m.; total, 255 miles.
LEASE.—Leased for 999 years 1871 to Penn. RR. Co. and since Jan. 1
int. on
stock"
(subordinate to the original stock 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. Co. owned on Dec. 31 1918 $5,526,200.
V. 101, p. 1461. 448; V. 92, p. 1031, 1108.
1918 operated directly by that company.
Rental, divs. on stock,
bonds and organization expenses
'Special guaranteed betterment
BONDS.—All equally secured: guaranty, V. 56, p. 604; V. 106. p.
V. 109, p. 1079.
259.
May.
RAILWAY STOCKS AND
192q] +Z°Z™em
RAILROAD
Date
Par
Amount
Rate
When
Last
Dividend
Road
first pageJ
Bonds
Value
Outstanding
%
Payable
and
Maturity
$50 $11,228,300
A A B
xo*
B lnt reduoed.x
(endorsed) Penn RR__JSerles C A D-.-.-xo*
Cleveland Short Line—See New York Central R R
Cleveland Terminal & Valley—See Bait A Oblo..__.
Coal & Coke Ry—First mortgage $5,000,000 gold__
Coal & Iron—See Western Maryland.
Ooal River Ry
Colorado Midland RR—1st M $2,000.000
Colorado & Southern—Common stock $31,000,000—
First preferred 4% non-cumulative $8.500,000
Second preferred 4% non-cumulative $8,500,000-First mortgage gold
$20,000,000.
__Eq.zo*
Ref & Ext M $100,000,000 gold red 101 __Ce.xo*Ar*
Lines Controlled by Ownership of Practically Entire
gold.Ba.zc*
Eq tr Ser C $58,000 s-a red aft May *20 102 H- FP
Ft W A Deny Ter Ry IstM $2,500,000 call 105 Baxc
Col Spgs & Crip Cr D Ry (See that company)
9.450
10
17,893,400
4,396,000
4
205 h
205 H
1892
1892
205 H
98-00
1919
A
3H g
5 g
A
A
1 1920 1%
Jan A Oct 1942
O Oct
O Apr
1,011
100
1898
1905
do
do
do
1 1924
do
do
do
Elklns, W Va. or Balto
Deo 31
~&~D
8.500.000 4% 1919 J
8.500.000 4% 1919
4 g
19,400.000
1,000
4 V* g
100 Ac r30,174,900
100
Text
uftti
do
do
1
1942
1948-1950
—See Chesap eake & O hlo.
1917
(?)
100
31,000,000
1882
Where Lmerest
Dividends are Payable
Juno
J
Pledged
1.000
197
4 V* K
3 V* g A
349.000
Places
June 1 '20,12*% Wlnslow, Lan A Co, N Y
June 1 1920 2>*
do
do
Q—M
Q—M
Q—M
3,857,000
1,000
1,000
1,000
1912 1% Office 26 Liberty, N Y
Dec 15 1919 2%
do
do
Dec 15 1919 4%
do
do
Feb
1 1929
do
do
May 1 1935
do
do
Capita I Stock
454
Ft Worth A Denver City 1st mortgage
Colo Springs & Crippe Cr Dist Ry—Reccerts.—
1st M $2,000,000 g s f
Cez
First consold mortgage $3,600,000 gold__G.xcAr
Col Wyom & East—Lar. H. Pk & P 1st Mg.AB.zc*
7
50
50
Cleve & Pittsburgh—Stock 7% guar by Peon RR Co
Stock 10% guaranteed by Penn RR Co
Special betterment stock $28,738,135 authguar4%
Gen M $10,000,000 gold__F1 Series
Guaranteed prln and intiSeries
15
Control.
Miles
COMPANIES
For abbreviations, Ac., see notes on
APrivate
BONDS
1,000
1,000
1,000
1915
1907
all
8.176.000
728,000
300,000
6 g
J
A
D Dec
a*
M
J
A
N May 1 1925
D Dec 1 1937
1,000
1,000
1881
50,000
1,255,000
1,379,000
J
&
J Jan
5 g
A
&
O Oct
J
A
1919
74
1900
1902
Office, 26 Liberty St. NY
Fidelity Trust Oo, Phlla
Office, 26 Liberty St, NY
June 15 1921
f.
240,000
1,000
100 &C
1904
A
1 1921
6g
1
Jan
1930
J
A
6 g
550,000
112 1914
$2,500,000 gold red 102 V*
1,600,000 Up to 6
July 1 1944
100 Ac
112 1914
(income) $1,600,000 gold red par text..—
j" a" J July 1 1937
75
1.000
888,000
1887
Col urn Newb & Laurens—1st M $12,000 per m.SBaz
r>
3 g
Columbia & Greenville—See Southern Ry—
Columb us & T oledo— See Hook Ing Valley Ry.
Mar 1920 2b%
50
1.780,200 8H in *19
55
Q—M
Columbus & Xenia—Stock 8% rental
J
A
J Jan 1 1944
71
5
500,000
1,000
1914
Concord & Claremont (N HI)—First mortgage
zo
Concord & Montreal—Bonds—See Boston & Maine RR ab ove
Jan 1 '20 3V*%
7
100
350,000
39.82
Concord 6c Portsmouth—Stock 7% rental 99 years..
1st A Ref M
1919 coupon unpaid
Oct 1918 coupon unpaid
American Tr Oo, Boston
1 1942
J July 1 1929
J July 1934
Guaranty Trust Co. N Y
Gen M
Conn & Passumpsic—Pref stock 6% rental 99 yrs-.c*
110 1893
First mortgage $1,900,000 gold
-.zo*
37
Massawlppl stook guar same dlv as Conn A Passump
21
1911
Newport A Rlchford 1st M gold guar by C A P _zo*
"D," F & A.
X Series "A." J A J; "B" A & O.
y "0". MAN;
100
100
1.000
r
350.000
bonds and also to issue
Apr
I1
Jan
A Tr Co, Bait
Treasurer,
Columbus, O
Boston
Met Trust Co,
Manchester, N H
3% Safe Dep A Tr Co,Boston
do
do
1 1943
Feb 1920
5 g
Addi tional $5,41 9,446 on
CLEVELAND TERMINAL CO—The Ohio P. U. Commission has auth¬
orized the issue of $2,500,000 First Mtge. 6% 25-year
Feb 1 1920
6
2,500,000
1,900,000
400.000
1,000
Safe Dep
do
do
do
3%
1 1941
do
Dec. 311 918 owned or co ntrolled by the co.
not pledged under the mortgage, owning 550 miles of read, making
1,004 additional miles, on whloh there are outstanding $30,174,900 under¬
are
$500,000 in stock for the purchase of land in Cleveland for terminal facilities,
but to Oct. 1919 none or these securities were outstanding. V. 108, p. 378.
lying bonds; total thus covered, 2,304 miles, oa whloh the total outstanding
funded debt, including these bonds and all prior liens, averaged $20,471
Cleveland A Youngstown RR., which is building, as agent for
with terminus in Cleveland
that city.—(V. 107, p. 905,
1191, 1836, 2187; V. 108, p. 267, 378.)
held bv Ft. W. A D. O. Ry.
V. 80, p. 52, 1100; V. 87, p. 949.
As to interest on bonds of the Colorado Springs A Cripple Creek
Forms part of
N. Y. Central RR., an electric suburban line
and has constructed a high level freight yard in
Ry.,
CLEVELAND & YOUNGSTOWN RR.—See Cleve. Term. Co. above.
★ COAL & COKE RY.—Owns from Elkins, W. Va., to Charleston.
173.63 miles; Mabir to Bellington, 17.7 m.; branch, Gassaway to
W. Va.f
Sutton.
RR. acquired
to $4,500,000
(all common stock) by cancellation of common and pref.
V. 107,p. 1287;
V. 85, p. 1095.
The $5,000,000 First Mortgage 5s, due April 1 1919, were
retired at maturity with funds provided by the Baltimore A Ohio, about
$2,150,000 thereof being treasury cash and the remainder from sale of
$3,000,000 B. A O. Collat. Trust 5-year 6% gold bonds, secured by pledge
of the entire $5,000,000 issue of Coal A Coke Ry. bonds, due 1924.
Pres.,
C. D. Norton; V.-P., Geo. M. Shriver; Sec., C. W. Woolford; Treas., E. M.
6-0 m.; total, 197.3 miles.
In Feb. 1917 Baltimore A Ohio
the entire capital stock, which on June 26 1918 was reduced
V.
Devereux.
V. 80. p. 1791; V. 91. p. 462, 214: V. 93. p. 1021.
Of the Fort Worth A Denver Terminal bonds, $300,000 sold
per mile.
108, p. 1274.
(THE) COLORADO MIDLAND RR.—Owns from Colorado Spring,
to New Castle, Col., through Busk-Ivanhoe tunnel, 221.92 miles; branches.
Basalt to Aspen, 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. Ry., 62.08 m.; trackage to Rifle Creek,
Ac.. 14.46 m.; total, 337.64 miles.
In Sept. 1919 the only portion of the
road in operation was the 26 miles, Colorado Springs to Divide, operated
by Midland Terminal Ry.
No rails, however, had been torn up.
see
that
company
below.
and $428,000
District
.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Jan. X-Mar. 31
Jan. 1 -Dec. 31——
EARNINGS.—
1920.
1919.
1919.
1918.
Gross
$3,421,825 $3,122,998 $12,976,643 $12,947,687
Net.
945,805
669,563
2,315,378
3,440,789
„
REPORT.—Report for 1918 in V. 109, p. 672.
Col.&So.Ry.
—Colorado & Southern System
Calendar Years—
1919.
1917.
1916.
1915.
Average miles
1,831
1,841
1,842
1,829
Total operating revenues$12,947,688 $18,685,810 $16,469,279 $14,745,665
Operating expenses
9,522,898
11,596,301
10,085,532
10,071,277
Net
earnings
Federal compensation
Total net incomoInterest
charges
Rents, AcSinking funds
$3,424,789
2,481,212
$3,878,892
$2,160,018
126,242
Additions A betterments
Miscellaneous
216,260
stock... (4)340,000
stock._(4)340,000
$7,089,509
$6,383,947
$4,674,388
$6,347,780
$2,861,164
475,389
$4,575 ,975
$2,860 ,986
-
$6,841,932
$2,845,530
389,129
36,457
250,723
606 .840
I
67,432
68 ,301
280,220
500,000
(2)170,000
Div.
on
1st pref.
Railway (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;
sale confirmed May 11.
V. 104. p. 1701, 2010, 2342,
Div.
on
2d pref.
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. V. 108, p. 267; V. 107,
OFFICERS—Pres., Hale Holden, Chicago; V.-P. A Gen. Mgr., Robt.
Rice; V.-P. J. H. Bradbury, Denver, Colo.; Sec. A Treas., B. F. James;
Asst. Sec. A Treas., T. S. Howland, Chicago.—(V. 109, p. 72, 577, 672;
V. 110, p. 359, 1088).
ORGANIZATION.—Successor June
1
1917 of the Colorado
Midland
In
180, 603, 695, 1287, 1579, 2289.
p.
v. 105,
p.
2183; V. 104,
p.
Sale of rolling stock, V. 107, p. 1836;
2342.
EARNINGS.—8 mos.,11918—-Gross,
Jan. 1 to Aug. 31.
\1917---Gross,
—(V. 107,
$981,546;
382,372;
1579, 1836, 2289; V. 108, p. 267, 479.)
p.
net,
net,
$151,184
18,427
def.
def.
★ COLORADO & SOUTHERN RY.—Operates a system of roads from
Guernsey, Wyo., through Denver to Fort Worth, Galveston. Houston.
Dallas, Ac.
Total oper. Dec. 31 1918, 1,831 miles, including 134.26 miles
operated under lease or contract, notably 118 miles of trackage, Denver to
Pueblo, over Atch. Topeka A Santa Fe.
Total line owned 1,927.86 miles
(of which 231.01 miles not operated by the company), viz. (*which see):
Colorado
Denver
A
847
(owned)
121
20
*454
RR
Interurban
RR
Fort Worth & Denver City
Wichita Valley Ry
52
Wichita Falls & Oklahoma
Colorado A Sou. Ry.
Controlled Lines—
23
61
39
82
Wichita Valley RR
Abilene A Northern
Stamf.A N.W. Ry.(V,89, p.1281)
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 the Trinity A Brazos Valley
Ry., owning a line from Cleburne to Houston, Tex.,236 miles, with branch to
Waxahatchie, 67 miles. The suit against Ch. R. I. A Pac. Ry. to compel
Leases Colorado
Sayment 1918. V. 109. p. of cost of108, p. 378, 479, 1610; V. 103, p.settled
>ec. 23
of latter's share 672; V. building the T. A B. V. Ry., was 2428.
See that
co.
and V. 98, p. 1920.
ORGANIZATION.—Reorganization
Jan.
Dec. 1908 the Chicago Burlington A Quinoy
V. 87. p. 1663, 1604; V. 88. p.
1899,
V.
67,
748.
p.
acquired $23,657,500
In
oommon.
158, 685.
large majority of the com. stock of Fort Worth A Denver City
see.
Controls
Denver A Interurban
(Electric) Railway,
whloh owns 20 miles, and operates 31 miles of Col. A Sou., electrified, under
lease
V. 87 p. 950; V. 89 p. 934.
Owns
By.,
a
which
RETURN," Ac.—See
"STANDARD
Federal Compensation.—$2,833,579
page
5.
yearly during Federal control
DIVS.
■) '04. '05. '06. '07.'08-'ll. *12. '13. '14-'15. 1916.'17. '18.'19.
2
0
4
4
4 yrly
4
4
None
2%
4
4
text
4
4 yrly
4
4
None
4
4
Common%J
2 yrly
1
0
None
The directors in March 1918 voted to postpone action In regard to the
April 1 dividend on the pref. shares until the contract with the Govt, was
signed.
In Nov. 1918, accordingly, 2% was paid on the first pref. and on
Dec. 27 2% on first pref. and 4% on second pref., thus providing for the
amounts due April 1 and Oct. 1 1918.
June and Dec. 1919 paid 2% on
1st Pref.
In Dec. 1919 paid 4% on the 2nd Pref.
V. 107,,p. 2289, 2475.
1st
pref%)
% I
2d pref.
..
..
BONDS.—1st M..
__
see
-_
..
V. 68. p. 1027; V. 77. p. 2158; V. 87. p. 444, 1160.
bonds of 1905 were made Issuable as follows:
The $100,000,000 Ref unding
For Refunding bonds and equipment obligations of system
For betterments and Improvements, including equipment, at
$36,850,(MX
the
yearly rate of $500 per mile of operated A controlled lines
For reimbursement of the treasury of the company, Ac
cum.
For acquisition of
additions (inci, double-tracking)
The Refunding bonds are secured by a first lien on all the
15,000,000
2.500,000
45,650,000
bonds and prac¬
tically all the stook of the cos. owning about 700 miles of road. Including thf
Wichita Valley lines and the Trinity A Brazos Valley Ry.; also, by direct
road owned bj
the stock of subsidiary cos. whose bondi
Hen. subject to the first mortgage, on about 1,002 miles of
the Colorado
A Southern and on
Bal., surplus for year.
$696,371
(4)310,000
(4)340,000
$2,640,093
$1,993,575
$1,039,848
ACOLORADO SPRINGS Sc. CRIPPLE CREEK DISTRICT RY.—Colorado
springs to Cripple Creek, Col., 47 m.; branch, Cameron to Victor, 5 m.j
other branohes and spurs, 22 m.; total, 75 rn.; of whloh 57 m. steam, 10 m
steam and electrlo and 2 m.
solely electric.
In Jan. 1905 Colorado A
Southern acquired all the stock exoeot $900 com.
V. 80. d. 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¬
ceiver May 10 1919 at the request of the bondholders' committee.
V. 108,
2022.
The burning of a bridge in May 1918 temporarily put the mam
commission, but this having been repaired operations were begun
again July 15 1919.
Receiver's certificates for $50,000 for two years
at 7% were issued to replace the bridge, Ac. V. 108, p. 170, 479, 2528.
In
May 1920 foreclosure proceedings were under way.
Proposed dis¬
continuance, V. 110, p. 1748.
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
(2d V.-Pres. Mutual Life Ins. Co., N. Y.), Chairman; Central Union Trust
Co., depositary.
(b) For 1st Consols (majority deposited): F. J. Lisman
of N. Y.. Chairman; N. Y. Trust Co., depositary.
V. 108, p. 170, 378.
479, 578, 2433, 2528.
Stook. all outstanding, com., $1,200,000; pref., 5% non-cum., $800,000.
Par of shares, $100 eaoh.
Div, 5% on pref., paid Feb. 1907, June 1908 and
Nov. 1 1909.
On com., 2%, Sept. 1908.
Sinking fund to retire first mtge.
bonds yearly at 110 for first 15 years, then at 107 >* for 5 years, then 105 fo»
next 5 years. 102 H for 3 years, thereafter at par.
V. 76, d. 345.
Pres., Hale Holden.—(V. 108. p. 170. 37, 479, 578. 2022, 2433, 2528;
V. 109, p. 887.)
p.
line out of
.
(THE)
COLORADO WYOMING &
,
,
,
EASTERN RY.—See page 136.
A COLUMBIA NEWBERRY & LAURENS RR.—Columbia to Laurena,
S. C., 75 m.
Stock, $500,000.
Bonds were 6s, but reissued as 3s In 1900,
income certificates to amount of 40% of bonds being Issued.
Bonos Issued,
$899,000; in treasury Dec. 1917. $11,000.
At last accounts had also out¬
standing $359,600 5% non-cum. certfs. for funded coupons.
Co-operative
contract signed In Aug. 1919. V. 109, p. 317.
or.
Year ending Dec. 31—
Gross.
Net.
Otherlnc. Charges. Surplus.
1919
$653,904 $191,925 $11,242 $83,394 $119,773
1918
550.621
120,973
7,487
86,244
42.210
J. B. S. Lyles, Acting Pres.; J. P. Taylor, Gen. Mgr., Columbia, S. C.
★ COLUMBUS & XENIA RR.—Owns from Columbus. 0„ to Xenia. 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. 1920 incl.,
a5 miles.
years
the
quarterly divs. in Sept. and Mar. have been
2-5%.—(V. 72. p. 532.)
2 1-5%, making the yearly
div. rate 8
★ CONCORD &
MONTREAL RR.—See Boston A Maine RR.
Portsmouth, N. H. to Man¬
A Maine RR. in 1862 for 99
Oper. by Boston A Maine,
★ CONNECTICUT & PASSUMPSIC RIVERS RR.—White River Jot., Vt.
to Canada Line, 110 m.; leases 999 years Massaw'ppl Valley, 37 miles.
★ CONCORD & PORTSMOUTH RR.—Owns
N. H., 39.82 m.
Leased to Boston
chester,
years;
rental $25,000; 7% on stock and org. exp.
the stock ($350,000) of the Newport A Rlchford RR., New¬
Vt., to Canadian line, 21 miles, operated under lease by Montreal
and guarantees Its $350,000 1st 30-year
5% bonds dated Jan. 1 1911. • V. 91, p. 946.
Owns all
port,
A Atlantic Ry. (Can. Pac. system),
★Government
46
^C^ntrol.
RAILWAY STOCKS AND BONDS
Contract.
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rate
When
Last Dividend
IFor abbreviations. Ac., see notes on first page]
Road
Bonds
Value
Outstanding
%
Payable
and Maturity
Connecticut River—Bonds—See Boston A Maine RR
36
(Phila)—1st M $15,000,000 guar p& l_(JP.kvc»
U>nn
Connellsville & Monong—1st M g s f
red par.UPi xcAr
Text
Copper Range—First mortgage gold (see text)
.s
Copper RiverjA Northwestern—IstM $50,000.000Qxc*
Cornwall & Lebanon—See Pennsylvania RR
Cripple Creek Central—Common stock
Preferred stock 4% non-cumulative.
Midland Term first mtge gold sinking fund.__F.xc*
Cuba RR—Common stock $20,000,000
Preferred stock 6% non-oumulatlve $10,000,000-.
First mtge gold $20,000 per mile
Q.xc*<fcr*
Impt & equip M g $12,000 per m
Nxo*
Secured g notes $100.000 call Nov 15 '19 100X FPc«
Three-year scrip for pref dtv in 1918 call at par
Equipment trust certs., due $43,000 seml-ann
do
due $28MA$27M s-an(V100,p.473).Us
do
due $40,000 semi-ann—.
Us
do
due $98,000 and $97,000 s-an g__|_
do
due $85,000 semi-ann
c*
Cumberland & Pennsylvania—First mtge g guar —z
Cumberland RR—1st M $3,000,000 goldV-----Cumberland Ry & Coal Co—1st M $3,000,000 g gu_
Cumberland Valley RR—See Pennsylvania RR
Dayton & Michigan—Com stock (3 M% guar TolCmn)
Preferred (8% guaranteed Tol Cinn) endorsed
1
1st M gu p& 1 end ext In 1911 red 102X beg 1917-0
Dayton Union Ry—First mtge sink fund call par..Fx
a
Of this amount $1,410,000 in the hands of public
197
1911
1905
$1,000
1.000
500 &c
1899
1909
1,000
100
100
602
1902
1910
1918
1,000
1918
1916
12.9
48
1910
1,000
1,000
1,000
1,000
1.000
1871
50
1871
1881
1899
1,000
1.000
1920
141
2
and $8 70,000
held by
Frankford Phila., 6 m.; North Phila. to Chestnut Hill, 7 m.; branches.
Ac., 23 ra.; total, 36 m.
V.103, p.1508. Stock authorized. $5,800,000; out¬
standing, $4,116,650, of which $3,825,350 owned by Penn. RR. Dec. 31
1918, which operates road under lease assigned to that company by Phila.
A Trenton RR„ terminating Feb. 18 2862.
Dividends 4% yearly (J. A D.).
In 1911 made a new 1st M. for $15,000,000, guar., p. A I., by Penn. RR.
V. 103, p. 1508.
V. 93, p. 229,730; V. 98, p. 522, 610.—(V. 103, p. 1508.)
★ CONNELLSVILLE & MONONQAHELA RY.r-Owns Moser Run Jet.
to Brownsville,Pa.. 15.68miles; branches and spurs, 6,75 m.; total track,
22.43 miles (connecting Penn. with Monongahela Ry.).
Incorporated In
Penn. Mar. 11 1905.
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,
$700,900.
Controlled by or In interest of U. S. Steel Corporation. Pres..
W. H. Ollngerman; Sec. and Treas., J. D. McCreery.—(V. 99, p. 406.)
★ COOPERSTOWN & CHARLOTTE VALLEY RR.—Entire $45,000
capital stock owned by Del. A 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 from Apr. 15 1891 Cooperstown A Susq. Val. RR., Coop¬
erstown to Charlotte Crossing, with branch to Cooperstown Jet., 19.79 m.
Cal. year 1917, gross, $53,746; oper. exp. and taxes, $80,234; loss from
oper., $26,488; other income, $39,568; rentals, $13,080.
★ COPPER RANOE RR.—Calumet, Mich., to Mass City .with branches,
total, 93 m.; side tracks, 4l m. Leases Mohawk RR. to Gay, 15.84 miles,
Stock, $4,244,300, entire owned by Copper
Range Co.
Bonds limited to $20,000 per mile of main line and branches and
$15,000 per mile of sidings.
Dividend, 10%, paid Nov. 1909 from ac¬
cumulated surplus.
"Standard return" subject to adjustments, $222,781.
Year 1918, gross, under Federal operation, $1,171,804; net operating
revenue, $100,880.
In 1917, gross, $967,094. against $930,606 in 1916;
surplus, after charges, Ac., $47,481, against $100,406.
Pres.. William A.
Paine; V.-P., Sec. A Treas., F. Ward Paine, Boston.—(V. 107, p. 695,1192.)
with branches, Ac., 1.66 m.
NORTHWESTERN RY.—Owns from Cordova.
Alaska, on tidewater, through the Copper River Valley to Copperfields near
the Chitina
River, 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 1918, gross revenue, $1,846,585;
net, after taxes, $581,329.—(V. 106, p. 395.)
"COTTON BELT."—Common
name
for St. Louis Southwestern Ry.
A CRIPPLE CREEK CENTRAL RY.—Owns Cripple Creek A Colo. Spgs.
RR. and Midland Terminal Ry. through ownership of all theirstock:
(Miles):
Midland Terminal
Ry.—Operating from Colorado Springs to Cripple
Creek 55.7 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. 1919); branches and spurs, 15.71; total (V. 106, p. 2228; V,
105, p. 998)
—87.72
Cripple Creek A Colorado Springs—Main line in Crip. Creek Dist.,
2.06; B. A S., 2.85; total, standard gauge (V. 106, p. 2756)
4.91
Total system Oct. 1919 (including spurs, Ac.)
92.63
Reorganization (per plan In V.78,p. 2018; V. 77, p. 1542,) of the Denver
V. 79. p. 1461; V. 101, p. 1184.
The lease of the Col. Springs A Cripple Creek District Ry., 87.73 miles,
terminated April 22 1919.
See that company.
A Southwestern, foreclosed Oot. 4 1904.
STOCKS AND
BONDS.—Com. stock, $2,500,000: 4% non-cum. pref.
$3,000,000; par of shares, $100.
V. 82, p. 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.werepaid during 1918.
The company still owns $319,000 of these bonds and $175,000 bonds of
the Cripple Creek A Colorado Springs RR.
stock.
DIVIS.— '07* *08. *09. *10. *11. *12. '13-15.
Com.,
*16.
'17.
18.
1919-20.
4
15
6
3
See text
4
4
4
4
4
4
S©© t)©xt;
an extra dividend of 10% was 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%
%—
600003
Pr©f«# ^/o
4
In Feb. 1916
—
each,
were
—
4
4
paid Dec. 1918 and March 1 1919; Dec. 1 1919, 1%; Feb. 15
and June 1 1920. 1%.
On June 11919 ana Sept. 1 1919 paid capital distributions (Nos. 1 and 2)
of $1 each on the pref. stock out of funds received from the payment by
the Cripple Creek A Colo. Springs RR. of $326,000 bonds of the Florence
A
Cripple Creek A Central RR.
It is understood this reduces the par value
of the pref. stock from $100 to $98.—V. 108, p. 683; V. 109, p. 172, 577.
REPORT
Report for calendar year 1918 in V. 108, p. 1936 shows;
Total income, $114,194; expenses and taxes, $14,360; pref. divs. (4%),
$120,000; com. div. (3%), $75,000; sale of stock of Col. T. A T. Co., $189,764; def., $284,930.
Pres., A. E. Carlton; Sec., E. S. Hartwell; Treas.,
A. S. Gill.
Office, Colorado Springs.—(V. 110, p. 764.)
CRIPPLE
CREEK
Creek Central Ry.
&
COLORADO
SPRINGS
do
Farmers' L A T Co, N Y
AN May
M
MAN
68
do
11960
15 Nov 15 1920
Yearly
RR.—See
Cripple
Y
N
do
Phila, Fidelity Trust Co
Feb A Aug 1921
24 Montreal
Tr
Co,
5
F
5
J21 July'20 Jan '25 United States Tr Co. NY
J A D 15 June '20-Dec*25 United States Tr Co. NY
2,401.950
1,211,250
2,727.000
379.000
50
(PHILADELPHIA).—Owns from Girard Ave. to
RIVER &
Cheoks mailed
See text
D Dec 1 1925
J
5
&
A Aug
20-Feb
Mont
A
MAN Nov '20-Nov '26 Guaranty Trust Co, N Y
&
O Oct '20-Apr '30
5
A
7 g
Guaranty Trust Co., N Y
Guaranty Trust Co, N Y
Montreal, Canada
MAN May 11921
A
D June 11958
5k
J
If
A
A
A
A
O Oct
1940
'
:
★ CONNECTICUT RIVER RR.—See Boston A Maine RR.
A COPPER
J P Morgan A Co. N Y
See text
275,000
480,000
1,267,000
1,700,000
1,000,000
1,028,000
1.142.000
1,000
1891
1908
51
&
Co, Phil a
344,000
1,000
1,000
1915
1915
If
4,000,000
2,000,000
600,000
1,000
1914
A Feb
RR
Union Tr Co, Plttsb, Pa
Old Col Tr Co, Boston
11949
11959
15.800.000 See text See text Aug 1 '19. 10%
A
A Feb 2 '20,
3% Checks mailed
10.000,000 6 In 1919 F
J
A
J July 1 1952
Royal Bk of Can.
13,170.000
$ & fr.
$100,000 Massawippl Valley Ry. stock, was purchased Feb. 1 1910 by the
Vermont Valley.—(V. 106, p. 395.)
RY.
Ac
A
Q.-M.
Q.-M.
J
5 g
326.000
1.000
1895
O Oot
Places Where interest and
Dividends are Payable
Treas Pa
Sept 1 1930
A
F
5 g
2.500.000 3 In 1918
3,000,000 See text
98
41
MAS
A
15 1951
S Mch
M15&
ig
4 g
546.000
a2,280,000
23,020.000
100
LEASE.—From Jan. 1 1887 leased to the Boston A Lowell for 99 years
rental Is 6% per annum on the stock.
SECURITIES.—Massawippl stock reoelves same dividends as stock of
lessee and $400,000 of it (not included in the amount outstanding) is pledged
as part security for 4s of 1893.
Of the $2,500,000 pref.. $700,000. as also
★ CONNECTING
$7,000,000
[Vol. 110.
I*
Q
4 g
J
A
J
4H(5)
A
v
f
1% Cincinnati, O
do
2%
J
J Jan
J P Morgan A Co, N Y
11931
Farmers' L A Tr Co. NY
J July 1 1949
O Apr
1920
Apr 1920
<
Ra nge Co.
Copper
A 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 1919, 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.
DIVIDENDS (%)
Preferred
-
1910
3J4
'11
4H
'12
*13
*14
6
6
5H
'15
6
'16
T7-'19
6
6 yrly
1920
3
Common (in cash)...
4
6!
6
6
—
Also on com. in com. stock in 1916, Jan., 20%; June, 25%. V.103, p. 752.
On Feb. 1 1918 paid a scrip dividend of 3% on the pref. stk, redeemable
on
Feb. 1 1921, or earlier at
option of company, with 6% interest payable
on pref. a scrip dividend of 3%, and Feb.
V. 107, p. 401,
1095, 1287.
The scrip due Feb. 1 1921 called for payment Feb. 1 1920.
V. 109, p. 1986; V. 110, p. 77.
annually Feb. 1; also Aug. 1 1918
and Aug. 1 1919 and Feb. 1920paid cash dividends of 3%.
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
to $12,000
per mile (excl. sidings) owned.
V. 91, p. 588,1253; V. 95, p. 175.
To June 30 1919 advances made by the Cuban Govt, to the company to
aid in improvements. Ac., against services to be rendered, were reduced
from $1,974,438 to $1,673,953. and other loans
payable of $1,750,000 out¬
standing June 30 1918 were all paid off.
V. 109, p. 1174.
The company having purchased in Nov. 1915 the entire $2,000,000 cap.
stock of the Oamaguey 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.
EARNINGS.—For 3 months ending Sept. 30;
3 Months to—
Cross.
'
Net.
Oth. Inc.
Sept. 30 1919
Sept. 30 1918
$3,071,833
2.968,679
$753,324
831,657
$22,768
36,657
Charges.
$297,564
320,070
Balance.
$478,528
548,244
REPORT.—For year end. June 30 1919 was in V. 109, p. 1174, showing;
Cross
Net
Interest Pref.Divs.
Com.Divs. Balance,
Years— Earnings.
Income.
Charges.
(6%).
(6%).
Surplus.
June 30.
1918-19_$12,236,245 $3,466,960 $1,269,640 $600,000
$1,597,320
1917-18-11,645,098
3.937,078
1,311,488
600.000x
2,025,590
1916-17— 6,452,108
1,934,146
1,140,715
600,000
193.817
1915-16— 6,815,697
3.523,659
978,244
600,000
720.000 1.225.414
x Pref. dividend of 3%
($300,000) On Feb. 1 1918 was paid in scrip.
Pres., Herbert C. Lakln; V.-P. and Gen. Mgr., Charles R. Hudson; V.-P.,
Horatio S. Rubens; Sec., Henry W. Bull; Treas., H. W. Snyder.
Office,
83 Montgomery St., Jersey City, N. J.; 52 William St., N. Y.—(V. 110,
p. 77
1289.)
CUBAN
CENTRAL RYS.—See V. 108,
p.
2528.
CUMBERLAND & PENNSYLVANIA RR.—Owns from Cumberland.
Md., to Piedmont, W. Va., and several branches, 51 miles.
Owned by The
Consolidation Coal Co., which guarantees by endorsement the bonds
108, p. 1179; V. 52. p. 390) and owns all the $1,500 stock.
Other
(est.), $20,474; interest, Ac. (est.), $268,928; net income (est.),
V. 108, p. 1610.
Last of car trusts were paid Dec. 1 1918.
see V. 85, p. 1401.
Advances by U. S. Govt.
V. 107, p. 2156.
Cal,
year 1917, gross, $8 2,449; net, after taxes, $3,881; other income, $390,066;
interest, Ac., $286,913; divs., $112,034.
Pres., C. W. Watson; Sec. A
Treas., T. K. Stuart.—(V. 85, p. 1401; V. 108, p. 1610; V. 110, p. 1289.)
Federal Compensation.—$255,692 yearly during Federal control.
(V.
income
$7,238.
A CUMBERLAND RAILWAY & COAL CO.—Owns road from Sprlnghll
to Springnlli Coal Mines, N. S., and Parrsboro on the Bay of Fundy*
32 miles; also coal acres, timber lands, &o.
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 $3,000,000 providing for future requirements.
V. 91, p.
1629, 1766; V. 92. p. 18tf, 1435; V. 97, p. 1583 Leased to Dominion Coal
Co.
Earnings included in report of lessee.—-(V. 97,. p. 1583.)
Jot.
★ CUMBERLAND
RR.—Artemus
to
Wheeler, Ky.,
10.2 miles,
and
Lansford to Anchor, Ky., 2.7 m.; total, 12.9 miles.
Incorp. in Kentucky
in 1902. Stock auth., $100,000; outstanding, $20,990; par, $100. Bonds
($3,000,000 auth. Issue) outstanding June 30 1916. $1,028,000.
Year end¬
ing Dec. 31 1917, gross, $40,628; net, aft. taxes, def. $1,967; int.. Ac.
$64,194; bal., def., $66,150.
Pres., Fairfax Harrison; Sec. A Treas., F. 8.
Wynn.
★ DAYTON & MICHIGAN RR.—Owns Dayton, O., to Toledo June., O.,
141.26 m.; trackage into Toledo to passenger station. 1.05 m.; to freight
m.
Leased May 1 1863 in perpetuity to Cin. Ham. A Dayton.
Lease modified June 23 1870.
Rental is maintenance of organization, int.
on bonds and 8% on pref. stock and 3H% on com.
Guaranty on pref. is
secured by mtge. 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 B. A O. RR. took over possession, under leas0, along with main
line of Cin. Ham. & Dayton.—(V. 92, p. 526.)
house, 0.48
★ 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
$86,300 stock.
Year ending Dec. 31 1917, gross, $155,489: net. $23,361;
other income, $3,536; charges, $38,910; bal., def., $12,012.—(V. 97,
p. 236.)
★ DAYTON UNION RY.—Union depot at Dayton, O.
Used by Pitts.
Oin. 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
bonds and other expenses be divided between them
$321,000, all
on
train basis.
Stock,
common.
For year ending Dec. 31 1917. gross. $183,557;
net, $61,130; other income, $134; Interest, rentals, Ac., $52,748; bal.. sur..
$8,516.
Pres., G. L. Peck. Pittsburgh, Pa.; Sec., R. C. Barnhard.—
(V. 89.
p.
1347.)
I
MAY
19
0 i
j
x<J-v
★Government
APrlvate
RAILWAY STOCKS AND BONDS
Contract.
RAILROAD COMPANIES
Miles
Date
Par
Amount
[For abbreviations, Ac., see notes on first pane]
Road
Bonds
Value
Outstanding
Rate
When
%
Payable
•
4?
Control.
Last Dividend
and
Places Where Interest and
Dividends
Maturity
are
Payable
.
See text
1914
£100
FP.xc*
Phila A Read
113
1892
$25
1,000
Ar
Northern
Hudson—Stock *55,711,500 (text)
30.97
1905
Death Valley RR—First M call 105 s
Delaware—Stock 8% guaranteed
General mortgage gold
f begin in 1916
.
245
Delaware & Bound Brook—Stock 8% gu
First consol M *1,800,000 guaranteed__PeP.xc*
-
—
—
&
iware
14
1892
3M g F
42,503,000 9 In 1919
6 g
500,000
4 M K
1,000,000
4
32.204,000
5 g
14,451,000
4 M g
7,988,000
5 g
9,000.000
7 g
10,000,000
100 Ac
1,000
1,000 Ac
500 Ac
1907
mmm
J July 1 1932
8
1908
— -
J
&
1,800,000
1915
•
S March 1 1924
&
100
1874
57
&
J
4M 8 J
1,000
-
100
Sohenectady A Duaaesburg first mortgage
z
Adirondack 1st M gold guar p & i end—Us.zo*Ar
Ist&RefM *50,000,000 g « f red 107 M beg'18-xo*Ar •
Convert bonds gold red text
Equip 1st lien bonds *10.000.000 g s f
Uam.xo* Ar
Secured gold notes callable (see text)
Usyc
Secured gold bonds
c*&r*
M
8
412,000
1,800,000
Delaware & Eastern (foreclosed)—See Del A
Del
5
$5,078,275
1,000
1,000
1917
1920
500
Ac
Bayonne, N J, MechTrO
July 1 1920 4% Cheoks mailed
Treas Pa RR Co, Phila
Q—F
May20 1920 2% 11 W State St., Trenton
&
A Aug 1 1955
Mech Nat Bk.Trenton.NJ
June21 1920 2 M Office 32 Nassau St. N Y
Q—Mch
MAS
Sept 11924
do
do
MAS Moh 11942
MAN May 11943
do
do
do
do
A
&
O Oct
1 1935
do
do
J
A
do
do
F
&
do
do
J
&
J July 1 1922
A Aug 1 1920
D June 11930
do
do
do
do
Guaranteed Bonds—
1890
Improvement Co 1st M g gu.zc*
Chateaugay Ore A I Ref mtge call 105
N.xo* Ar
Utica Clinton & Binghamton RR 1st M
Albany & Susquehanna RR 1st mtge
Bluff Point Land
«•
1902
-
1889
1906
•
—
-
-
•
*42,277,000.
—-
-
Wilkes-Barre Conn RR 1st & impt mtge.
Delaware Lacka & Western—Stoon auth
Bangor & Portland mortgages gold
—
•
•
~
—
-
x
100
cal.
For
year
A
J
&
1 1940
11942
3M g A
7
42.220.550 20
&
M
in '19
6 g
320,000
&o
&
Apr 20
Q—J
J
N Y Trust Co, New York
J July 1 1939
O April 1 1946
N May 1 1947
A
*20
Office, 32 Nassau St, N Y
5% 90
West
St,
do
J 1930-1936
New
York
do
7% secured gold bonds of 1920 are secured by deposit
pledge with trustee of the following: (1) $10,000,000 Del. & Hudson
RR. 1st 3Ms of 1946;
(3) $1,000,000 Wilkes-Barre Connecting RR. 1st & Improv. 5s, duo May 1
i947 (principal and interest guaranteed jointly and severally, by endorse¬
ment, by Pennsylvania RR. and Delaware & Hudson Co. ; (4) $500,000
Rensselaer & Saratoga RR. Guaranteed stock; (5)
$400,000 Albany A
Susq. RR. Guaranteed stock.
Proceeds will be used to provide funds to pay off at maturity $9,000,000
3-year 5% Secured Gold notes, due Aug. 1 1920, and for other corporate
The $10,000,000
DEATH VALLEY RR—See page 138.
★ DELAWARE RR.—(See Maps Pennsylvania RR.)—Shellpot Crossing,
Del., to Delmar, Md., 95.20 miles; branches, Centrevllle, Md., to Towosend,
Del., 34 98 m.; Clayton, Del., to Oxford. Md., 54.27 m.; Seaford. Del., to
Oambrldge, Md., 32.96 m.; Massey, Del., to so. of Chestertown, 20.52 m.;
other branches, 7.22 m.; total, 245.15 miles.
V. 67, p. 1356.
Leased to Philadelphia Baltimore A Washington (which owns *2,704,600
of the stock) for 99 years from Mch. 1 1910 at a guaranteed rental of 8% on
the stock, a special stock dividend of 70% being paid Feb. 28 1910; also a
special oash dividend of 20% and an extra cash dividend of 5%.
1918, rental, $430,594; other income, $56,027;
$37,775; divs. (8%), $406,262; income
bal., def.. $3.086.—(V. 109. p. 887.)
J
5
10,000.000
1,085,000
*50
-
4
800,000
J Jan
4
1;300,000
1917
■80-'S6
Jan
300,000
1,000
1,000
1,000
1.000
charges,
applied to sinking funds, $45,669;
Brook June. (Cent.RR.
★ DELAWARE & BOUND BROOK RR.—Bound
Delaware River, 27.22 miles; branch to
Trenton, 3.75 m.; East
total, 34.02 miles.
Total track, including 2d, 3d
and 4th tracks, sidings, Ac., IOO.OS miles. In May 1879 leased for 990 years
to Phila. & Reading.
Rental, $213,107.50, paying Interest and 8% on
■tock.—(V. 81. p. 210.)
and
1st & Ref. 4s of 1943; (2) $3,500,000 Albany & Susq.
requirements.
Loans and bills payable outstanding Dec. 31 1919, $3,973,033.
Equipment trusts issued to Director-General for .rolling stock allo¬
cated to this company.
See article on page 3.
Federal Contract, signed in Feb. 1920, fixes annual compensation at
N. J.) to
$7,480,204.
Trenton RR., 3.05 m.;
Jan. l-Feb. 29
Jan. 1 -Dec. 31
1920.
1919.
1919.
1918.
$5,200,331
$4,937,534 $34,749,709 $34,789,864
Net
def.533,758 def.232,861
3,078,204
3,436,079
REPORT.—For year 1919 in V. 110, p. 1845.
Official Statement for Year 1919.—Government compensation (estimated),
$7,415,149; income from investments, rentals, &c., $3,467,918; total, $10,883,067.
Deductions: Interest on funded debt, $2,919,237; other interest,
$369,382; rental, &c., $1,957,392; war taxes, $138,000; other annual expen¬
ditures, $894,051; net income, $4,605,004.
★ DELAWARE & HUDSON
CO.—See map.—Operates railroad lines from
Schenectady to Rouses Point, N. Y.,
with branches to Binghamton, Troy, Lake Placid,
N. Y., Rutland, Vt., and other points, a total of 909.61 miles (of which
345.19 owned in fee and 459.70 leased or controlled through stock owner¬
ship), viz.:
Lines leased—*See these cos. Miles.
Steam Lines owned (345 m.)
Miles.
143
Carbondale to Scran ton iPa.,A br. 22 •Albany & Susquehanna
190
LookoutJct. to HonesdaleJct.,Pa. 28 •Rensselaer & Saratoga
Nineveh to Jefferson Jet.. Pa
22 ♦Chateaugay & Lake Placid RR.. 79
Wilkes-Barre, Pa., via. Albany and
the Canadian line,
on
OherryValJct.toCherryVal.,N. Y. 21
Schenectady to Delanson, N. Y_. 14
Greenwich to Salem Jet., N.
Y
10
Saratoga to North Creek, N. Y.. 60
Whitehall to Rouses Point, etc
149
19
Other lines owned
Second track
Other leased lines
•Jefferson
Boston
& Maine (trackage)
are
48
35
37
Results as
Total operated Jan. 1
1920 -__909
Reported by the Railroad Administration for 1918 and
pany's Figures in 1917).
1919.
Transportation of—
Merchandise
Coal
—
Total
operating expenses
Net earnings
& Clinton RR.t 44 miles,
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.
All coal produced from the company's mines Is sold at the pit mouth
to the Iludson Coal Co. (V.89, p. 1449).
The canal 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
Operating
x
3,036,063
1,880,882
1,605,973
x909.260
8,643
income
x848,986
1,668
920,381
3,478
$2,160,301
accrued
Uncollectibles
sublet to N. Y. Ont. & W.
2,804,056
2,010,515
Taxes
_
1917.
l$29,4S3,444 $30,104,926($10,540,757
I 14,806,606
J
-.$34,749,709 $34,789,864 $29,989,399
31,671,504 31,353,784 23,449,953
$6,539,446
$3,436,079
$3,078,204
Total operating revenue
Dec. 1919, 357.37 m., third track, 35.13 m.; fourth track.
1919 (Com¬
1918.
3,255,750
Passenger
Miscellaneous
32
Other trackage
20.52 m.; yard track and sidings. 647.31 m.
Also leases Utica Clinton & Bingb. and Rome
which
(trackage)
RR.
EARNINGS.—
Gross
$2,585,425
$5,615,587
Does not include war taxes.
1919.
produced. 8,205,495
Coal Statistics—Tons—
1918.
1917.
1916.
9,059,228
8,643,824
7,186,380
2093
Anthracite coal
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.
10,879,556
9,300,552
Bituminous coal carried-3,046,449
2,799,859
OFFICERS.—L. F. Loree, Pres., N. Y. City; W. II. Williams and C. A.
Peabody, N. Y. City, and F. P. Gutelius, Albany, Vice-Presidents; C. S.
Sims, Montreal, V.-Ores.; J. T. Loree, Albany, Gen. Mgr.; W. B. Schofield,
Asst. to Pres. & Asst. Sec.; F. M. Olyphant, Sec.; and W. H. Davies,
108, p. 2035.
Allied
control. V. 108, p. 2022.
owned: Quebec Montreal &
Physical condition under Federal
Properties.—(a) Entire capital stocks
Junction Ry. Co., Greenwich A JohnsonRy. Co., United Trac. Co. and Troy & New
England Ry. Co.; (5) one-half the stock owned: Wilkes-Barre Connecting
RR. Co. and Schenec. Ry. See list of stock, See., holdings, V. 106, p. 1893.
Coal prices In 1917.
V. 105. p. 767.
Anthracite rate case, V. 101, p. 2072;
Southern Ry. Co., Naplerville
vllle Ry. Co.. Schoharie Valley
Albany'& Susq. stockholders were held by higher Federal
titled to the saving of Interest effected by the refunding at
courts to be en¬
3 M % of the re¬
$7,050,000 of the $10,000,000 Issue of Albany & Susquehanna
RR. Co. 7% bonds, Increasing the yearly rental paid.
V. 85, p. 721;
V. 83, p. 1036; V. 80, 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. & H. stock.
See Albany A Susauehanna.
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 per
maining
ton
on
coal mined.
J'87. '88. *89 to '96. '97 to '00. '01 to '06. *07 to June21'20
Since 1886..% \ 5
6
7 yearly.
5 yearly.
7 yearly. 9yriyQ-M2H%
BONDS, Ac.—Equip. 4M« of 1907, V. 84. p. 1247. 1307; V. 85. p. 1082,
On May 12 1908 the stockholders authorized a First and Refunding Morv
gage for $50,000,000, bearing not over 4% Int. and running 35 years, and
subject to redemption as an entirety only at 107 M 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, $6,500,000 are
reserved to retire outstanding 1st M. bonds; V. 86, p. 98, 1409, 1589; V. 87,
D. 96, 480.1419,1604; V. 89, d. 847, 1541; V. 90. p. 51,167: V. 92. p. 186.
394; V. 96. p. 1156.1700; V.
p. 1024; V. 98. p. 1168,1844: V. 99 p. 4*.
The stockholders on Sept. 30 1915 authorized the Issuance of $14,451,000
20-year 5% bonds, which were offered to stockholders. The bonds may al
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 lscno,
but not a part, may be called for redemption on Oct. 1 1922. or oo 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.
Y. 101, P« 773, 1092; V. 102, p. 800.
DIVS.—
1356.
V. 104.
p.
1044.
The $9,000,000 3-year
.
5% secured gold notes of
„
.
1917 due Aug. 1 1920.
redeemable (as an entire issue only) on any interest date on 60 days
notice upon payment of a premium equal to H. % for Bach six months until
are
maturity..
They are secured by pledge of $7,300,000 Del. A Hudson Co.
Ref. M. 4% gold bonds, due 1943: $3,500,000 Albany & Susq. RR. First M.
3Ms, g., due 1946; and $400,000 Alb. A Susq. RR. and $500,000 Rensselaes
A Saratoga RR. guar, stock.
V. 105, p. 389: V. 106, p. 2022.
In April 1919 was authorized by the N. Y. P. S. Commission to Issue
$4,460,000 4% 3.5-year 1st A Ref. Mtge. bonds to be sold for not less than
90.
The proceeds will be used (a) to retire $1,700,000 5% notes; (6) for
reimbursement for additions and betterments, $524,611; and (c) for pro¬
posed additions and betterments,
$2,235,566.
V. 108, p. 1610.
Anthracite coal carried
Treas., N. Y. City.
■
of Managers.—Chauncey M. Depew, Charles A. Peabody, Leonor
Vanderbilt, William A. Harriman and Percy H. Stewart
William S. Opdike, all of N. Y.; George I. Wilber, Oneonta, N. Y.; Robert
C. Pruyn, Albany, N. Y.; William H. Williams, Plainfield, N. J.; Henry W.
De Forest, Oyster Bay, N. Y.; Charles S. Weston, Scranton, Pa.—(V. 110,
p. 969, 1415, 1845, 1972.)
Board
F. Loree, Cornelius
★ DELAWARE LACKAWANNA &
Hoboken, N. J., opposite N.
from
WESTERN RR.—Operates main line
.,
410 m.,
co.)
Y. City, to Buffalo, N. Y
with branches to anthracite region, &c., 647 m., viz.: (*see this
Lines Leased (Concl.)—
Lines Owned—
Miles.
Miles.
35
111 •Oswego & Syracuse
80 •Syracuse Binghamton & N. Y__ 81
Erie & Centra N. Y.( V.96.P.202)
18 •Utica Chenango A Susquehanna 97
11
Bangor & Portland Ry
38 •Valley RR. of New York
Other lines owned
9 •Lackawanna RR. of N. J._.— 28
Y. line
Northumberland
N. J. vState line to N.
Branch to
-
Lives Controlled and Operated—
Lines Leased—(See each co.)—
31
brchs.176 Sussex Railroad
11
•N. Y. Lackawanna & Western..214 Lackawanna A Montrose RR
♦Cayuga A Susquehanna
34
Total operated Jan. 1918-- --980
Greene RAllroad
8
HISTORY, &c.—Chartered in 1832, present title assumed in 1853.
In June 1909 the D. L. & W. Coal Co. was incorporated with *6,800.000
authorized stock, to act as selling agent for the company's coal in Pennsyl¬
vania, the railroad stockholders being permitted to subscribe for Its stock
Bee extra dividend below, also that company's caption under Miscel. Cos.
UDited States Supreme Court on June 21 1915 In the sub brought by
the Government held that the company, under the contract or Aug. 2 1909,
violated the commodities clause of the Hepburn Act and the Sherman anti¬
trust law (V. 100, 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
»ult over Morris A Essex lease was settled, the guaranteed dividend on
M. A E. stock being Increased from 7% to 7H% p. a.
V. 104. p. 2116.
V. 100. d. 1509. 1832; V. 102, p. 1896: over Syr. Bing. & N. Y. lease, V. 103.
p. 1980.
Anthracite rate casc. V. 101. p.
V. 102. p. 1357. Govern,
ment regulation of coal prices In 1917, V. 105. p. 767, 2412, 2293. 1961.
•Morris A Essex and leased
-
2672;
DIVIDENDS— {1904.
1905.
1906-08.
1909.
1910 to Apr.
1920.
1903
(%)l 17
19M
20 yearly
70
20% yrly.—see below
Dividends previously 2M% Q--J- (10% p. a.) and 10% extra
were In 1918 changed to 5% each quarter, the annual rate remaining 20%.
Since
December
to
July 1909 paid special cash dividend 50% one-half applicable. If desired,
subscription of stock of new D. L. & W. Coal Co. selling agency; also
2 1909. and In Deo. 1911 35% in 4% guar,
89. p.,41. 224: V. 93. p. 1323; V. 94. n. 549.
Compensation.—$15.749.477 yearly during Federal control.
LATEST
Jan. 1-Mar. 31
Jan. 1 -Dec. 31
EARNINGS.—
1920.
1919.
119.
,
1918.
Gross
$16,511,301 $16,330,156 $71,824,047 $67,740,076
Net
870,433
3,352,544
15,758,796 18,814,391
ANNUAL REPORT.—Annual meeting is held on Tuesday preceding
last Friday in February.
The report for 1918 was in V, 108, p. 2428.
paid 15% 8tock dividend Aug.
stock of Lack. RR. of N.J. V.
Federal
_
48
RAILWAY STOCKS AND BONDS
[VOL. 110
MAT, 1920.] *gST'
RAILROAD
RAILWAY STOCKS AND BONDS
Miles
see notes on
first page]
Date
Par
Amount
Rate
When
Road
COMPANIES
[For abbreviations, &c.,
49
Bonds
Value
Outstanding
%
Payable
10
Del River RR & Bridge—1st Mggu d A 1 sf l%GP.xo*
Denv Boulder & West—Inc 1st M $800,000 red par _x
Denver & Rio Grande—Stock common (see text)__Tr
Preferred stook 5% non-oumulative $50,000,000_Tr
First Consol M $42,000,000 now 1st M g_Us.xo*Ar (1,647
11.647
First A Ref M $150,000,000 gold red llO__Baxo* Ar*
2,541
2.541
Adjust M Incomes $25,030,000 7% cum red 115 Nxo*
Improvement M ($5,000 per mile g
Us.xo'Ar 1,647
1896
699
$1,000
1909
100
Ac
100
100
1886
500
Ac
1,000
1908
1888
$ A mks
$f£,m,Ac
500
699
1889
1899
1,000
1,000
180
1890
62
Rio Grande Western 1st M gold (V69, p 284) _Ce.zo»
First Cons mtge redeem at par (see text) g-G.xo*
1898
1889
1912
Ac
Ac
4 g
F
$1,206,000
See
700,000 To 5%
38,000,000
49.775,670
4 g
v34.125,000
4 H g
6,382 000
5 g
x32.063.500
10,000,000 7 In 1919
5 g
8,335,000
15,190,000
i g
e
4
yl5.080.000
&
Last Dividend
and
Places Where Interest and
Maturity
Dividends
are
Payable
Aug 11936
July 11939
Penn RRCo. Phila&N Y
Kidder ACo,5 Nassau,NY
A
jan~16 19ii~ 2H
Office.
A
Jan
Jan
1 1936
1 1936
National Park Bank, N Y
A
A
Aug 1 1955
Apr 1 1932
June 1 1928
July 1 1939
Apr 1 1949
Aug *19 coup pd. at mat.
Apr.*20 int. paid at mat.
A
text
&
A
A
A
165 B'way,
do
N Y
do
June *19 int.
paid July 1
Guaranty Trust Co, N Y
do
do
i
Bonds
of Affiliated Companies—
Rio Grande Southern first mortgage guar
Cex
Rio Grande Junction first mortgage guar
Ce.xo*
Utah Fuel Co 1st M $2,000,000 redeem at 110—Gz
Pleasant Valley Coal 1st M s f redeem at 115
Gz,
Salt Lake City Union Depot A RR—See that Co.
1
Denv & Salt L RR—Stobk
$1,750.000
J
Receiver's (1st lien) ctfs $1,500,000 g call at par__
1st M $35,000,000 gold redeem 105--Ba.xc*Ar*
Do
cash lnt: 3%. 3 yrs; 4%, 1 yr; then 5% --x
Do
cash lnt: 4 yrs, 1, 2, 3 A4%.resp.tb«*§%_x
Adjustment (Income) bonds $2,000,000.-—
—x
——
1901
1898
z2,277,000
2,000,000
486,000
897,000
1,000
1,000
1,000
1,000
1913
text
1913
text
1913
1913
ii
5 e
J
J July 1 1940
J
AD Dec 1 1939
MAS Moh 1 1931
J
A
J July 11928
A
583.515
; 0 g
859,468
Sept
M &
N
3,641,000
M &
3-4-5
N
4.427,000
N
1,734,000 1-2-3-4-5 M &
2,000.000 Up to5% MAN
1918
text
t g
5 g
Is
$,£,fr,Ac
$, £, &c
$, £, Ac
$1,000
Sept
May
May
May
May
10 1920
1 1943
1 1943
11943
1 1943
Maltland,
Coppell,
do
Y
N
do
Guaranty Trust Oo, N Y
do
do
May 1915 coup unpaid
do
do
do
do
New York
Additional amounts held in treasury or by trus tees D ec.3 19 19. viz: v $1,445,000; X $9,997, 500, Incl uding $7,005,00 0
pledged under adjustment mtge.; y $1,395,000.
Dec 3 1 1917 ; there ar o also $2,23 3,000 not guarant eed
z Of which $1,777,000 in treasury or renewal fund
v-x-y
Year ending Dec. 31—
Coal
Merchandise
1919.
1918.
1917.
.$19,055,523 $19,009,846 $17,130,291
32,839,878
31,287,554
24,637,415
12,380,787
11,204,813
9,289,838
7,547,859
7,237,863
6,152,680
freight
Passengers
Mail, express, &c
Gross i *
i
Federal compensation
Net, after taxes.
Coal department (net)__
.
_
$71,824,047 $68,740,076 $57,211,224
y$17,324,424x$14,174,529
_______
_________
6,946,297
1,608,925-
_____
Other miscellaneous income
Total net income
$15,940,064
5,752,341
*6,503,879
2,440,290
2,130,649
$25,879,646 $22,367,160 $24,574,592
Hire of equipment-___
Compensation to employees
Interest and rentals
$6,148,961
305,033
426,240
8,444,455
Renewals and betterments.
8,444,080
869,556
347,282
1,710,374
Expenses prior to Jan. 1
Railway tax accruals
Maint. of inv. org
Miscellaneous debits
Dividends (20%)
$534,261
606,175
6,278,347
1,785,612
$6,143,646
1,458,323
735,444
981,661
214,035
8,444,080
Balance, surplus...
*
$7,627,745
$4,389,972
$6,926,117
*Coal Department—
1919.
1918.
1917.
1916.
Gross earnings
__$44,325,488 $39,859,767 $34,391,801 $26,627,148
Profit
6,946,297
5,752,341
6,503,879
4,933,022
P. & L. surplus Dec. 31 1919, $64,875,729; cororate surplus, $24,429,612.
x Only 90% of the standard return is included in income of 1918.
y Includes 10% of compensation for year 1918.
OFFICERS—Pres.. W. H. Truesdale; V.-P. & Gen. Mgr.. E. M. Rine;
V.-P., P. J. Flynn; Sec. & Treas., W. G. Van de Water; Aud., R. B. Fer¬
guson.
.
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, W. H. Dodge, Beekman Winthrop, William
Fahnestock. Harold 8. Vanderbilt, J. F. Talmage.
Office, 9(5 West St..
N. Y.—(V. 110, p. 1088, 1289.)
A DELAWARE & NORTHERN RR.—East Branch to Arkville, 38 miles,
Inoorp. in N. Y. Oct. 14 1911 as a reorganization of
Del. & Eastern RR., foreclosed per plan V. 93, p. 588.
Stock, common,
$1,000,000; 6% cum. pref., $250,000; par, $100.
No bonds April 1 1919.
For year ending Dec. 31 1917, gross, $133,160; net. after taxes, $12,019;
rental and fixed charges (net), $8,598; bal., $4,021.
For year 1918. gross,
$135,700; net loss after taxes, $9,724; rental & fixed charges, $6,850; def.,
$16,574.
Accrued pref. divs. for 1918 amounted to $15,000.
Pres., An¬
drew M. Moreland: Sec. & Treas., Howard Feist; Asst. Sec. & Aud., H. G.
Eckert.
Office, Margaretville, N. Y.—(V. 96, p. 1725.)
and 8-mile branch.
★ DELAWARE RIVER RR. & BRIDGE CO.—Frankford Jot., Pa., to
Pensauken, N. J., and branches, 9.52 miles.
Capital stock, $1,300,000, all owned on Dec. 31 1918 by Penn. RR.,
which guarantees bonds, prin. & int., by endorsement, and in April 1918
had arranged to take a lease of the
property, paying as rental a sum equal to
6% on the stock, taxes and fixed charges,
v. 106, p. 2228; V. 63, p. 1062,
1159; V. 89, p. 1596.
DIV8.—
*06-'07. *08. *09-'10. *11. ,12-*13. *14. '15. *16. *17. '18. '19
Per cent
5 y'ly
6
6 y'ly
8
6 y'ly
4
4
0
6
6
6
—(V. 101, p. 2071; V. 102, p. 1540; V. 106, p. 2228.)
A DENVER BOULDER A WESTERN RR.—Boulder to Ward, Colo., 20
miles; Sunset to Eldora, 20 m.; branches. 5 m.; total, 51 m.
V. 80. p. 650.
Stock, $300,000, all out; par $100.
The bonds ($800,000 authorized)
are entitled to int. up to 5% if earned, payable Sept. 1.
In Dec. 1917 the right to abandon operation and dismantle the property
was withheld.
Also in May, 1919.
V. 105, p. 2183. 2542: V. 108. p. 2022.
In Dec. 1919 announced that road had been purchased by the Morse
Bros. Machinery & Supply Co., Denver, who have been granted permission
by the P. S. Commission to dismantle the road.
Was being dismantled
in Feb. 1920.
V. 110, p. 764.
For year ending June 30 1916, gross, $93,985, against $61,197 in 1914-15;
net income, $11,505, against def., $3,459.
Dividend on incomes, 3%
($21,000), paid Sept. 1 1910, and 1H% ($10,500) Sept. 1 1911.
Pres.,
Charles D. Marvin; Sec. A Treas., O. M. Williams.
Office, Boulder. Colo.
(V. 110, p 764.)
★ DENVER & RIO GRANDE RR.—ROAD.—Mileage:
Road owned and operated
Of the preceding:
2,484
Rio Gr. Jo. RR., Ac. (leased)
120 Standard gauge
1,823
781
__
Narrow gauge only
Total
2.6041 Second traok
316
"ADVANCES" AND "STANDARD RETURN." Ac.—See
page 5.
Total advances from U. S. RR. Administration from
April 1 1918 to
Jan. 31 1919 as loans and advanced compensation, $6,850,000.
V. 107.
p. 1314; V. 106, p. 2122, 2228.
'
Federal Compensation.—$8,319,377 yearly during Federal control
(con¬
tract
operated
executed).
HISTORY.—On
July 31 1908 the Rio Grande Western was merged.
The Rio Grande Junction (of whose stock the greater
part Is owned) was leased Jointly by this co. and the Colorado Midland (fore¬
closed In 1917) and its bonds guaranteed.
V. 95, p. 1541; V. 97. d. 886;
V. 105, p. 2455.
Rio Grande Southern is controlled.
Judge Learned Hand in the U. S. Dist. Court in N. Y. City on May 18
1917 decided in favor of the Equitable Trust Co., as mtge. trustee of the
old Western Pacific Railway, the suit brought against the Denver & Rio
V. 87, p. 226, 285.
Grande RR. Oo. to enforce the payment of the guaranteed bonds.
p. 1309, 1522;
V. 104, p. 2641, 2117.
V. 105
The Circuit Court of Appeals at
affirmed the decision, ranking the judgment as a lien
the property inferior to the lien of the mortgage bonds.
V. 107, p. 1186;
V. 106. p. 85. 188. 1126. 1688.
In Sept. 1918 after some $7,771,395 had been realized on the
N. Y. on Jan. 4 1918
on
judgment,
the Western Pacific RR. Corp., holder of the beneficial interest in 95% of
the $50,000,000 1st M. bonds of the former Western Pacific Ry. Co., wns
proposing to set aside $3,500,000 of the money so received for the rehabili¬
tation of the D. & 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
Elaced in theSan Fran.,its President, Gen. Attorney of the Western Pacific
Edward L. Brown, and Alexander It.
aldwin, of hands of
V.-Pres. &
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 property, Mr. Brown retired as receiver and Mr.
Baldwin remained as sole receiver of the free assets with no part in the
operation of the road.
V. 106. p. 929.
In June 1918, $10,418,700 securities held by the company in N. Y.
banks were attached; $10,000,000 stock of Utah Fuel Co. was sold under
this judgment on June 20 and bid in by William Salomon & 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.
Com¬
pare V. 110, p. 1972.
Interest Payments.—Coupons due Feb. 1 1918 on First & Ref. Mtge. 5s
and April 1 1918 on Rio Grande Western 1st Consol. Mtge. 4s (V. 106,
p. 1461), were paid on May 24 1918
Coupons due June 1 1919 on the
Improv. 5s delayed were paid July 1 1919; Equitable Trust Co., N. Y., had
previously offered to piirchase them on behalf of Western Pacific RR. Corp.
V. 108, p. 2329.
All other coupons to and including Nov. 1919 understood
to have been paid promptly to Nov. 24 1919.
V. 109, p. 72.
Committees Formed in View of Aforesaid Decision (V. 104, p. 2117).
First <fc Ref. 5% M. Bonds.—Seward Prosser, Chairman; Bertram Cutler,
C. Ledyard Blair, E. K. Boisofc, John Henry Hammond, Andrew J. Miller,
William Salomon, Joseph H. Seaman and Frederick Strauss; B. W. Jones,
Secretary, 16 Wall St.
Cadwalader, Wickersham A Taft, counsel. Bankers
Tr. Co.,N. Y.,depositary. V. 106, p. 2559. 2228,498; V. 104,p.2117,2552.
Common & Pref. Stock.—Harry Bronner, J. Horace Harding, John W.
Platten and Harrison Williams.
Cravath A Henderson, counsel; Ohauncey
H. Murphey, 55 Cedar St., N. Y., Secretary; United States Mtge. & Trust
Co., N. Y., depositary.
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.
V. 104, p. 2235; V. 106, p. 2228.
Rio Gr. West. ls( M. 4s.—See Spencer Trask & Co.. 25 Broad St.. N. Y
lsf Mtge. Bonds of Rio Gr. 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 1917 owned $17.295i)00
common and $9,805,000 pref. stock. V. 72, p. 338, 580, 1238: V. 73, p. m)0.
,
_
DIVS.—V *92. '93. '94. '95. '96. '97. '98. '99. '00. '01 to Jan.'ll
None,
pref. %]
020022
2144
4
5 yearly.
sinoe.
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. Stook Exchange, V. 50, p. 73; also V. 69. p. 284.
Utah Fuel 1st.5s
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
Issue of $150,000,000 bonds.
V. 86. p. 1224,1284, 1529; V. 87, p. 226,285,
544, 741, 1419; V. 88, p. 100, 230, 294, 504, 822; V. 89, p. 348, 593; V. 90.
p. 848.
Utah Central RR., $390,000 1st M. 4s paid orf 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
1919, $1,880,500 were held in sinking fund and treasury and $8,117,O0O
were pledged under the Adjustment
Mtge., leaving $32,063,500 in the
hands of the public.
The Adjustment mtge. (7% cum. income) bonds authorized in April 1912
(total $25,000,000, present issue $10,000,000)
received their first install¬
ment of Interest absolutely on Oct. 1 1912, and are since entitled (A. & O.)
on
to
such amount
as
the board shall
determine out
of
surplus net Income
daring the six months ending Dec. 31 or June 30 immediately preceding,
all arrears, If any, to be paid at maturity or at date of earlier redemption.
Redeemable at 115 any interest date; 3H % Interest declared, payable semi¬
annually from April 1 1912 to and including Apr. 1920.
V. 97, p. 728
1426; V. 101, p. 773; V. 94, p. 911, 1565: V. 105, p. 606, 818.
The stock ($200,000) of Salt Lake City Union Depot A RR. Co. Is about
equally owned by the D. A R. G. and Western Pacific, foreclosed, which
guaranteed its $1,100,000 first mtge. 30-year 5% bonds.
V. 88, p. 232.
Jan. 1 -Dec. 31-—
1919.
1919.
$6,903,886 $33,016,257 $31,352,213
Net
920,811
7,359,285
6,058,738
ANNUAL REPORT.—For 1919 in V. 110. p. 1968:
Calendar Years—
19191918.
191/ .
Average miles operated
2,593
,
2,611
2,580
Gross earnings
$33,016,257 $31,352,214 $28,423,138
Net, after taxes, Ac___
5,972,877
4,858,526
7,462,267
Other income
1,117,467
2,857,075
1,235,324
Federal compensation
8.319,377
8,319,377
Jan. 1 -Mar. 31
EARNINGS.—
Gross
/1920.
$9,065,615
2,481,642
Gross income
Hire of equipment, rents, Ac
Interest on funded debt
Interest
adj. mtge. bonds (7%)—
Sinking and renewal funds
on
$J,436,844 $11,176,452
$772,467
$208,114
4,894,397
700,000
4,911,475
700,000
203,130
133,422
$8,697,591
.$£49,597
4,922,457
190,000
303,370
Balance, sur. or def_
____def$2,690,577df$l,468,133 sr$l,796,393
OFFICERS.—Pres
V.-P., Finley J. Shepard, N. Y.;
Sec., John P. Howland, Room 915, 165 Broadway, N. Y.
DIRECTORS—George J. Gould, E. T. Jeffery, Arthur Coppell, Finley
J. Shepard, George G. Haven, Harrison Willians, Harry Bronner, C. C.
Huitt, J. H. McClement and John W. Platten, N. Y.—(V. 110, p. 359.
462, 561, 1972.)
★Government
50
APrtvate
RAILWAY STOCKS AND BONDS
Contract.
Last
Miles
first page]
Denver fic Salt Lake RR (Concluded)—
Two-year notes $300,000 auth call 101
Em.y
Equip notes g due $24,000 s-ann
Em.xc*
do
Pullman Company
do *
due 18,000 semi-arm
do
due $22,750 seml-ann
Denver Un Term Ry—1st M red 105 beg '19 text.CC
Des Moines fic Fort Dodge—See Minneapolis fie St L
Date
Par
Amount
Rate
When
Road
RAILROAD COMPANIES
[For abbreviations, Ac,, see notes on
Bonds
Value
Outstanding
%
Payable
1915
1913
$1,000ficc
mm —
mm m
...
....
mm —
mm
—
1914
1,000
4.225
99
1887
1912
Detroit Grand Haven fit Milw—First equip M gu__yo*
Oonsol M guar p A 1 Grand Trunk Extended
yc*
189
1878
1,000
1,000
1,000
189
1878
200 Ac
Detroit Hillsdale & S W—Stock 4%rentalNYRCentRR
Detroit & Mackinac—Common stock, $2,000,000 auth
Pref stock non-cum $1,000,000 auth (V 74, p 629)
65
Bes Bay C ficUnion—First M $800,000 gold s f FC.xc*
et Moines
Ce.zo*
W— 1st M $1,250,000 g red text
•
&
!g
5 g
100
m
ficAlfi Feb 15 1917
fig
See text
1916
5,898
648,000
2,000,000
3,300.000
1,350,000
Dividend
fic
Places
Where Interest and
Dividends are
and Maturity
6
$217,000
144,000
15.749
40,000
22.750
4,000,000
1,000
1913
1915
[Vol. 110.
Control.
Payable
Prin. fit Int in default
S Sept '20-Mar'23 Empire Trust Co. N
Merch L fit Tr Co,
Oct 1920
Y
Chic
&
Jan 1918 coupon
fie
Oct 1920
&
4X g
July'20-July'22
Mar 1 1964
American Locomotive Co
Cont fit Com TrfitSB .Chic
Nov
&
.
&
4
Central Union Trust, N Y
First Tr fit Sav Bk. Chlo
See text
Oct
&
6
&
&
unpaid
1932
14 1920
New
and
York
London
do
do
15 1920
5 1920 2% Farmers' L & Tr Co. N Y
Jan 2 1920
2H H K McHarg, New York
Nov
Jan
100*
2,000,000i 2Min'19
&
mi
100
Jan
All
1895
1,000
&
June 1 1995
"Mortgage bonds" $1,750,000 g red at par
Gxc*
Detroit Mackinac & Marquette Ry.—See "Miscellan
Detroit Riv Tun—1st M $30,000,000 gu end_Q.xc*r*
Detroit Tol & 1 ronton—Common stock $6,500,000
Pref stock (p & d) non-cum 4% & partic.$6,000.000
First M gold red 105
N.yc*
AdJ One) M $$,000,000 g cum aft Jan 19 red text.Ce
Toledo-Detroit RR 1st mtge gold bonds
1st & Ref gold bonds
All
1895
1,000'
950,000 5 in 1919
4 g
1,050,000
4 g
1,250.000
&
GxC
A
June 1 1995
fit
N May 1 1961
J
fit
Mch 1 1964
M
fit
Mch 1 1954
&
Sept 1 1920
Sept 1 1940
To Nov 1 1925
New York Trust Co
1927
New York Trust Co
"First lien" $1,500,000 gold
mm-
—
C ompan lea."
1911
1,000
2.72
mm ^
•
mm m
'mm
18,000,000
6,500. CKX^
5.989,998
100
^
100
— m
19l4
mmm
1.439,000$
1.000
7,628,868
60,000
400,000
84,500
400,000
100 ficc
mm
22
1915
1915
22
_
196
1915
500
1917
1,000
*
4
★ DENVER & SALT LAKE
J P
do
Morgan
do
&
N Y
Co.
do
eous
Equipment gold notes due $6,500 M & N callable.,
do
do
due $25,000 J & D callable
hi operation,
do
2 1920 2X
RR.—In 1918 256 miles, Denver to Craig, was
Dec. 1
incl. Steamboat Springs to Craig, 41 miles, opened
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 tunnel
through the Cfontinenatl Divide was blocked In July 1914 by a decision of
the Colo. Supreme Court declaring the proposed city bonds illegal.
V. 96,
1913.
4X g M
5 g
Up to 5
5 g
ie
M
J
5X
fit
ToJ'nel
Office of Treas, N Y
New York Trust Co
★ DETROIT QRAND HAVEN fic MILWAUKEE RY.—Owns from De¬
Mich., 189 miles.
Charter decision Oct. 1916, V.
troit to Grand Haven,
107, p. 1669.
Real estate bonds, ficc., $226,000.
Grand Trunk of Canada
entire $1,500,000 stock.
1st M. 6s are payable at maturity at 101.
owns
EARNINGS.—8
mos.J 1919--Gross, $2,698,160; net (bef.
cr.$441,918
1 to Aug. 31.
\l918--Gross, 1,759,411;
taxes), def 158,854
ending June 30 1916. gross, $3,242,210; net, $832,002; charges,
$831,482; baL, sur., $14,936.
For cal. year 1917, gross, $3,403,425;
net, after taxes, $211,713.-—(V. 110, p. 261).
Jan.
'
1488; V. 92, o. 1310; V. 95. p. 1403, 1122; V. 96, p.
1024, 1503; V. 98, p. 73, 610, 762; V. 99, p. 119, 1597.
p.
1488; V. 97. p.
1912 and took over as of
890) the Denver Northwestern fit Pacific
in Colo. Dec.
ORGANIZATION.—Incorp.
May 1 1913 (per plan, V. 95, p.
Ry., foreclosed.
V. 95, p. 1683. 1603. 1331; V. 96. p. 135. 1296. 1364.
leases Northwestern Terminal Ry..Denvk
till Jan. 1 1964.
V.98.D.911.
Cities in Colorado in May 1919 formed the Northwestern Colorado
Tunnel Assoc. to prevent abandonment of the road.
V. 108, p. 479, 268,
1610. 1390, 2122.
FEDERAL MANAGEMENT.—The U. S. RR. Administration on
Aug. 24 1918 agreed to take over the management of the property,
maximum
&3
paying
Out of this must be paid
compensation $351,000 annually.
the corporate expenses, rentals, deferred maintenance and certain
and betterments, yet to be determined.
The receiver writing
additions
Sept.
10
1918 said:
"Under the circumstances, I can see no [immediate] prospect
the bondholders receiving anything."
V. 107, p. 1192.
for
Administration also agreed on Aug. 24 1918
to purchase
receiver's certificates approximating $1,462,000 with a first lien on the
The
RR.
property applicable as follows (V. 107, p.
ana material, $300,000; all overdue equip,
1192):
Taxes, $260,000; fuel
notes fic Int., $185,000; wage
1st M. bonds
first lien ahead of
and any future issue of such certificates. Not exceeding
$575,000 were to be issued forthwith.
"STANDARD
RETURN," ficc.—See
RECEIVERSHIP.—On
Aug.
16
page
1917
5.
Pres.
W. R. Freeman of Denver were made receivers.
Chas. Boettcher and
V. 105, p. 818, 1419.
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,
Default having
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
L. O. Phipps,
the 6%
Mason,
equipment certificates dated July 1 1915.
Chairman, John H.
Philadelphia.
Depositaries, Commercial Trust Co. of Phila.;
Empire Trust Co., N. Y.
V. 106, p. 2756.
The committee in Feb. 1919
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.
June 30 1915 loans and bills payabla were $302,461; car trusts, $657,502.
Jan. 1 -Mar. 3D
Jan. 1 -Dec. 31
$645,873
$471,123 $2,911,401 $2,055,509
EARNINGS.—
Gross
def.301,471 def.318,533def.797,564def.834,049
Net
EARNINGS.—Years ending June 30 1917:
1916-17.
Gross
1915-16.
1914-15.
1913-14.
$1,993,740
$1,893,747
$1,639,455
$1,215,361
$147,131
$489,571
181,430
earnings
$481,602
$439,805
125.709
$503,218
$328,366
$339,807
$526,870
$83,912
$11,004
Gross income
Interest charges
Rentals, &c.j
Balance, deficit
——
$390,5191
123,702/
$11,441
OFFICERS.—Charles Boettcher, Pres.; Gerald Hughes, Sec., and E. I.
Grenfell, Aud., Denver; William Wadden, V.-P. fie Asst. Sec.; A. F. Dodd,
Treas., New York.
Directors, see above.—(V. 110,
p.
561, 1289.)
★ (THE) DENVER UNION TERMINAL RY.—To take over the Union
Depot fie Ry. Co. (V. 71, p. 343) and extend and improve the passenger
terminals at Denver, Colo.
Stock $30,000, equally owned by the Unlon Pa¬
cific, Denver fie Rio Grande, Colorado fic Southern. Chic. Burl, fie Quincy,
Atch. Topeka fie Santa Fe
and Chicago Rock Island fie Pacific which
guarantee the bonds ($10,000,000 auth. issue), of which $4,000,000 were
sold to Union Pacific.
V. 106, p. 2756.
U. S. RR. Admin, in 1918 sanc¬
capital outlays of $6,602.
V. 97. D. 1024.1115; V. 98. p. 762; V. 99,
406.
Pres., J. H. Bradbury; V.-P., N. H. Loomis; Treas., J. C. Hous¬
tioned
p.
ton; Manager, J. Keating; Sec.
fie Aud., C. R. Hines.—(V. 107, p. 1287).
★ DES MOINES UNION RY.—Terminal roadin Des Moines; owns4.22 miles
traok and branohes, 22.89 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 Wabasb
RR., Chic. Gt. West., Chic. Milw. fie St. P. Ry., Chic. Burl, fie Q. RR. and
Minneap. fie St. L. RR.
V. 75, p. 342.
Rental equal to exp. fit fixed chgs.
paid monthly by lessees on wheelage basis.
Stock auth.. $2,000,000: out..
$400,000; par, $100.
Year ended Dec. 31 1918, gross, $119,013; net, to
P. fie L., $132,988.
Year ended Dec. 31 1917, gross, $126,149; net, $64,493;
other income, $206,049; int., taxes, fitc., $91,728; bal., sur., $178,814.
Court decision as to ownership, V. 102, p. 1346.—(V. 105, p. 1801, 1898.)
main
★ DETROIT BAY CITY fie WESTERN RR.—Owns Bay City. Mich., to
Port Huron, 102 miles.
Stock, all out, $450,000.
The 1st gold 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.
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;
Dal., sur.. $51,432.
Pres.. Thomas L. Handy; V.-Pres., C. W. Handy;
Treas., G.
W. Handy. Office, Bay City, Mich.—(V. 107, p. 905; V. 108,
p. 268, 1274.)
★ DETROIT HILLSADALE fic SOUTHWESTERN RR.—Owns Ypsllanti to Bankers, Mich., 65 m.
Leased in perpetuity in 1881 to L. 8. fic M.
S. Ry. (now N. Y. Cent. RR.); rental, $54,000—4% on stk.(V. 106, p. 601.)
197
★ DETROIT & MACKINAC RY.—Owns from Bay City, Mich., to Cheboy195 m.; An Sable division (formerly A. S. & N. W. RR.). 60 m.; Rose
City Branch. 32 m.; Prescott Branch. 12 m.; Lincoln Branch. 14 m.; Au
Ores Branch. 8 m.; Alabaster Branch. 4 m.: Hillman division. Alpena to
Hillman, Mich., 23 m.; Rogers City Branch. 14 m.; logging branches
(largely temporary), 26 m.; total. Dec. 31 1919, 379 m.
In 1919, for
eat products, 20-6% of traffic.
Henry K. McHarg and associates control,
gon,
Federal
tract
Compensation.—$310,664
executed).
V. 108, p. 1610.
yearly
during
Federal
control
(con¬
BONDS.—"Mortgage bonds" for $500,000 were reserved for betterments,
&o„ at not over $50,000 per year.
V. 74, -p. 629.
In addition to the
amounts shown above as outstanding, $450,000 "first lien" and $500,000
'mortgage" bonds were on April 1 1919 held in treasury.
DIVIDENDS.—On pref., 2X % July 1 1903; since to
arrears, $154,000; deferred maint., ficc., $600,000.
The receiver's certificates ($1,500,000) are to have a
the
Year
Jan. 1920, 5% y'ly.
1919, 5% yearly (except July 1915 and July
also in July 1918, and 1919 none; Jan. 1919, 2X%.
EARNINGS.—
Jan. 1 -Mar. 31
Jan. 1 -Dec. 31
Gross
$425,230
$343,717
$1,687,341
$1,557,033
Net.
def.65,356
def.82,521
7,715
68,575
On common, in 1911 to Jan.
1917,
none;
REPORT.—Year ended Dec. 31 1919:
Cross.
Net aft. Tax. Tot. Inc. Int.,Rent,&c. Dies.
Bal.,Sur.
$1,687,341 df$84.917
$303,816 $147,001
$92,000
$89,934
1,557,034
df31,210
307^,402 17^,056
97,500
32,846
1,350,457
180,116
287,650
92,300
97,500
97,850
1,254,102
280,636
403,113
99,036
147,500
56,577
x Standard return, $310,664; other income (def.), $6,848, total income,
$303,816.
Pres., Henry K. McHarg; Sec.-Treas., Jas. McNeil.—(V. 110, p. 1849,
2192.)
Cal. Year.
1919
1918
1917
★ DETROIT RIVER TUNNEL CO.—Owns double-tube tunnel and ap¬
proaches under the Detroit River, with terminals, all leased for 999 years
1 1907 to Michigan Central RR. Co. (N. Y. Central System),
which owns the entire $3,000,000 stock and guarantees, prin. fic int., of the
bonds and 6% on the stock.
Of the $30,000,000 bonds. $12,000,000 are
reserved under restrictions for additions and improvements, interest rate
not to exceed 5%.—(V. 98, p. 1844.)
from Jan.
★ DETROIT TOLEDO fic 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 IlsmaD Jet. to Dean .
0..3 m.; total. 441 m.; coal mine tracks, sidings, fitc., 154 miles.
Incorp •
In Dela. Mar. 1 1914 as successor, per plan V. 97. p. 1821, of tme Railway
foreclosed.
Toledo & Detroit RR., Toledo, O., to Dundee, 22 miles.
V. 103, p. 60.
In May 1920 the firm of Fosburgh, Pratt fic Osborn, N. Y., asked for
options until Aug. 1 1920 to purchase adjustment bonds and capital stock
at a price, subject to a deduction up to but not exceeding 3%, of $600 for
each bond, $5 for each share of pref. stock and $1 for each share of common
stock. V. 110, p. 2075.
u
BONDS, <&C.—'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 and payment of equipment liens, and an addi¬
tional $1,009,000 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, ficc.—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 call¬
able as a whole 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. shall have been paid for 2 successive
years and at least for 5 years from date of the mortgage, the holders have
the right to cast one vote for each $100 at all meetings of the stockholders.
The Toledo fic Detroit RR. (purchased Jan. 2 1918) had $460,000 bonds
outstanding.
to
.
.
"STANDARD RETURN," fifce.—See page 5.
Equipment trusts issued to Director-General for rolling stock allocated
See article on page 3.
Jan. l-Mar. 31
Jan. l-Dec. 31
EARNINGS—
1920.
1919.
1919.
1918.
Gross
$1,148,106
$914,915
$3,765,755
$3,413,340
Net
74,868 def.172,231 def.490.796 def.381.800
to this company.
REPORT.—For years ending Dec. 31.
Gross
Net
Standard
Interest, Balance,
Earnings.
Earnings.
Return.
Taxes. Rents, &c. Sur. or Def.
$3,413,341 df.$382,548 $225,895
$4,054
def.$15,845
2,640,122
116,020
96,000
130,118 def.150,098
1916
2,325,278
552,694
75,467
141,388 sur.335.S40
1
"Int., rents, taxes, ficc.," include in 1916-17 Interest on bonds, &c..
$76,368; taxes. $84,000. and rentals, ficc., charges, $66,012.
J. A. Gordon is President, Detroit, Mich.
The directors are as follows:
Frederick Osborn, N. Y. (Pres.), William Church Osborn, N. Y. (V.-Pres.),
Otto T. Bannard, Sidney C. Borg, Frederick H. Ecker, H. W. Morse,
N. Y. (Sec. fic Treas.), E. M. Harter, Detroit, Mich. (Compt.j.
Office.
Real Estate Exchange Bldg., Detroit, Mich.—(V. 110, p. 969,1289,2075->
Calendar
Years—
1918-
mat, 1920.]
*g0°«t
RAILWAY STOCKS AND BONDS
51
.
RAILROAD COMPANIES
[For abbreviations, Ac.,
see notes on
Miles
Par
Amount
Rate
When
Road
first page)
Date
Bonds
Value
Outstanding
%
Payable
Oct St Tol Sb L—1st M $3,000,000 g gu
Ba.xo* Ar
Dover St Rockaway—Stock 6% rental 990 years
Dub & Sioux City—See Illinois Central—
48
1903
Ouiutb & Iron Range—First mortgage_____Mp.zoAr
Duluth Mlssabe & Northern—1st Div First Mtge_z
General mortgage gold s f, red 105
Nxo*
8.151.000
1,174,000
9,919,000
1892
1906
1,000
130
1885
1887
1.000
1,000
1,000
604
604
1890
1892
1909
1906
1911
Durham St So Car—1st M $300,000 g red 105--MeBa.x
Durham Union Station—First M $75,000 g-G.xo'Ar
Dutchess County RR—See Central New England Ry
East Broad Top RR—1st M ext 1908
50
1,000Ao
1908
1908
42
1,000
and
Maturity
Places Where Interest and
Dividends are Payable
4 g
6
J
A
A
A
O.
5
A
A
O
6 g
J
A
J.
11937
11922
Office Empire Bldg, N Y
5 g
1,077,000
3,816,000
15,107.000
3.000.000
a7,004,997
2.000.000
b243,000
60,000
1,000
1,000
1905
Winn A Pac—1st M deb stock guar br Can Nor Ry
Dul RL AWln 1st M exten'd gred 100 joint guar_ICo*
J
A
J,
11941
Company's""office" ~N~
11925
11937
55
J
6
A
A
J
A
J
F
A
J
A
D
5 g
5 g
J
MAN
J
4
New
Y
York
do
London or Toronto
Chase NatBk.NY; & Ohio
Merc Tr A Dep Co, Bait
A
J
11921
MAS July 11941
4
St,
New York or London
Held by Canadian Padflo
4
5 g
Wall
do
A
4
Bankers Tr Co. N Y
143 Liberty St New York
O
5 g
4 g
11953
Guaranty Trust Co, N Y
Ac
500
J
A
1908
500,000
464,400
92,500
J Jan
11958
J July 11958
4 g
J
A
J
1906
1.000
300.000
4 g
J
A
50
497,750
5
50
2,126,900
6
36
1888
1,000
495.000
4 g
J A D 15 J'ue 151920
J
A
J July 15 1920 3%
MAS Moh 11958
36
1905
1,000
500,000
5 g
MAN Nov 11935
Guar Tr & S D Co. Phlla
357
120
1912
1916
£1 Ac
165
1897
£1.438.356
$2,420,000
3,000,000
1,792,000
322.000
2,500,000
3,000,000
F A A16 Feb 16 1942
semi-an Oct 22 1944
A
O Oct
11947
Lloyds Bank, Ltd.. Lond
Nat'l Park Bank, N Y
Equitable Trust Co, N Y
c*
50
10
x
38
100
'
-»
------
Pennsylvania—^Stock
1,000 AO
1887
Ou
East
150,000
65
361
Duluth South Shore & Atlantic 1st M g __Ce.xoAr
First oonsol mtge gold Interest guar—Ce.zo'Ar
Income certs held by Can Pao
z
East Carolina Ry—First mortgage $300,000 gold
East Mahanoy RR—Stock
$3,000,000
100
210
Duluth Rainy Lake & Winnipeg—See Dul Win A Pao.
Duluth So Sh & Atlantic—Marq H & On gen M.Ce.zc*
2d M Incomes
Shade Gap 1st mortgage
$1,000
—
Last Dividend
»
„
36
6% guar 999 yrs Phlla & R
First mtge gold guar p & I by
PAR RR (end) kvo*
East Tennessee Virginia & Georgia—See Southern Ry
East Tenn & W No Car—1st M g (V 81 d 1723) GuP.zc*
Eastern Ry of Minnesota—See Great Northern
Edmonton Dunv & Br Col—IstM debstk gu see text
1st M (on extensions) $2,420,000 g $20,000 p m
El Paso & Northeast—NMRy & Cool tr.g red l05_c*Nx
New Mexico Ry & Coal M gold
c*Eq.x
Alam & Sao Mt first mtge $900,000 gold guar—Nx
El Paso & Rook Isl 1st M $2,500,OOOg guar_.Eq.xo*
Dawson Ry & Coal col trust gold guar p & i-Eq.xo*
1.000
1,000
1,000
1,000
1,000
1,000
1901
31
1898
128
1901
133
1901
4
4H
g
5 K
5 g
A
405 Lafayette Bldg, PhD
A
A
A
O Oct
A
A
O
J
A
J Jan
A
J
5 g
5 g
5 g
J
do
Safe Dep
do
July 1 1958
J July 1 1936
do
do
A Tr Co, Bait
Reading Term, Phlla, Pa
do
do
do
do
11951
11928
11951
July 11951
do
do
Apr
do
do
do
do
do
do
An additional $1.210,583 pledged by Can Nor Ry V 105
P 1304
b Includes $57,000 In sinking fund Oct. 1919.
a
★ DETROIT St TOLEDO SHORE LINE RR.—Extends from Toledo to
(suburbs of) Detroit. 47.6 m.; 2d track, 20 m.;
sidings, 3 m.; trackage over
Toledo Ry. & Term. Co., Ao., 31 m.; total track, 101.6 m.
V 78. p. 2598.
The Grand Trunk Western
Ry. and the Toledo St. Louis & Western RR.
own the entire $1,428,000 stock and
Jointly guarantee thefbonds, principal
and interest, by endorsement.
See form of guaranty, V. 76, p. 653.
First
dividend, 4%, paid from earnings prior to June 30 1908; In fiscal year
1908-09, 6%, and In 1909-10. 1910-11. 1911-12, 1912-13 and 1913-14. 8%;
and in 1913-14 $630,000, from accumulated surplus
paid in Is M. 4s);
1914-15. 8% and 6% extra; 1916. 8%; 1917-18. (8%)
Equipment trusts Issued to Director-General for rolling stock allocated
o this company.
See article on page 3.
BONDS, Ao.—Abstract first mortgage, V. 45,
p. 274.
The First Consolidated
mortgage of 1890 has Interest at 4%, guaranteed
the entire outstanding Issue ($15,107.000) In Its treasury as security for Its 4% 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.
&L9an* Pa0" whI°h Dee.31 1918 held
Jan. 1-Mar. 31
EARNINGS—
Gross.
Net
"STANDARD RETURN," Ac.—See page 5.
Jan.
EARNINGS.—
1920.
1-Feb. 29
1919.
Jan.
1-D'c.
1919.
1918.
Gross
$303,112
$365,830
$2,458,394
$1,999,025
46.362
199,557
1,159,537
901,719
Year ended Dec. 31 1917. gross. $1,827,430: net
income. $853,521; other
income. $17,115; Interest, rentals. Ac.. $578,750; diva. (8%).
$177,646; bal.,
sur., $177,646.
Pres., Walter L. Ross.—(V. 110, p. 969, 1088.)
DOVER
&
under lease
ROCKAWAY RR. (N. J.).—Total, 5.12 miles.
by Central RR. of New Jersey.
"
STANDARD RETURN," Ac.—See page 5.
six months extension of the Govt,
guaranty.
The company refused the
STOCK,
Ao.—Stock, auth., $10,000,000; out., $6,500,000,
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,
1&5%; 1911-12 ancf 1912-13. 90%;
1913-14, 75%; 1914-15, 20%; 1915-16, 50%; 1916, 25%; 1917,
12%; 1918,
7%; 1919, 30%.
Jan. 1-Mar. 31
1920.
1919.
EARNINGS—
Gross
Jan.
1 -Dec. 31
1919.
$397,609
$377,173
$7,961,606
def.529,822
Net
def.440,980
3,388,450
1918.
$8,978,929
4,234,187
REPORT.—For year
ending
Dec. 31
1918 in
V. 110, p.i 165.
Cal.Yr.
Gross.
Over. Inc.
Olh.Inc. Int., Ac. Dividends.
Surplus.
1918 —$8,978,929x$2,355,242 $174,586 $868,388
(7)$455,000 $1,206,439
1917
7,371,399
2,515,650
174,683
947,225
(12)780,000
963,109
President is F. E. House, Duluth.—(V.
110, p. 165, 1289.)
—
A DULUTH MISSABE St NORTHERN RY.—Owns from
Stony Brook to
Mountain Iron. Minn., 48.32 m.; Missabe Jet. to Columbia
Jet.. 29.34 m ;
numerous branches; total of all track owned
about 720 miles.
Also
leases from Spirit Lake Transfer Ry.
(V. 104, p. 664) and Interstate
Transfer Ry., 24.96 miles, with 2.10 miles branches and
spurs and 14.38
miles yard tracks and siding.
Owns extensive ore docks at Duluth.
Entire
$4,112,500 stock controlled by U. S. Steel Corporation.
with
"STANDARD RETURN," Ac.~See page 5.
six months extension of the Govt,
guaranty.
The company refused the
BONDS.—Of the Gen. 5s of 1906, bonds are reserved to
retire the under-
ying bonds; additional bonds may be Issued at not over $30,000 per mile foi
tddltlonal single main track and $20,000 for
second, third and fourth main
tracks and for not
over 75 % of cost of improvements, Ac.
Sink. fd., 2 % yly.
ilncl. bonds In sinking fund) retires
by lob at 105.
Dec. 31 1917 $2,476,000
n
sinking fund.
V. 88. p. 822: V. 98. p.
1693. 1844.
DIVIDENDS paid fiscal years ending June 30: 1912,
1914, 75%; 1915, 10%; 1915-16, 75%: 1916,
LATEST
Jan.
EARNINGS—
Gross
100%; 1913, 85%;
100%; 1917, 50%.
1-Mar. 31-
1920.
Jan. 1 -Dec. 31
1918.
1919.
1919.
$521,648
$598,117 $19,994,713 $21,545,270
—def.973,188defl ,586,727
12,205,262
13,587,838
Net
REPORT.—For calendar year 1918 in V. 110,
p. 74, 1289.
Combined Federal and Corporate Income Account.
Years ended Dec. 31—
1918.
1917.
1916.
Gross oper. revehues___$21,545,270
Net
earnings
13,587,837Fed'I compensation accr'd x5,122,051
Other income
125,241
Int., rent., Fed. tax., Ac.
1,387,077
Dividends
Amortization, Ac
$15,306,600 $14,389,278
8,165,945
8,696,814
131,577
2,329,828
2,056.250
389,780
392,948
3,473,435
Surplus
2,754,705
209,596
1,629,023
4,112,500
415,038
2,749,669
—(V. 110,
p.
74,
1915.**
$9,909,549
6,068,530
187,701
1,244,400
3,084,375
452,606
1,474,850
1289.)
A DULUTH & NORTHERN MINNESOTA RR.—Knife
River. Minn, to
Meredith, 80 miles, and extension Mile Post 87 to Mile Post
99, 12 miles.
Capitalization at last accounts, $1,000,000 capital
stock, in $100 shares; no
bonds.
Pres., B. W. Arnold. Albany; Treas., Russell A.
Alger, Detroit.
★ DULUTH SOUTH SHORE St ATLANTIC
RY.—Operates Superior to
Bault 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.
"STANDARD RETURN." Ac.—See
page 5.
Federal Compensation.—$562,648 (contract
signed).
CAPITAL
STOCK.—Common, $12,000,000; pref. 6% non-cum., $10,Can. Pao. Dec311918owned $6,100,000 oom. and
000.(XX): oar, both $100.
$5,100,000 pref. stock.
1919.
$4,758,601
def.36,549
1918.
$4,824,186
353,033
561,165
^
$4,824,186 $317,242x1594,637 $28,736 $1,040,504
def.$417,131
4,316,294
649,753 —
Not availablo
4,074,693
827,379
890,197
1,059,672 def. 169.476
191546
3,506,792
772,614
831,293
971,612 def. 140,320
x Represents income from lease of
road.
1917
■
__
__
______
Pres., Edward Pennington; Sec., W. H. Peck.- •(V.
HO. p. 969.)
A DULUTH WINNIPEG & PACIFIC RY.—Owns entire
$2,000,000 stook
of Duluth Rainy Lake A
Winnipeg Ry., Virginia. Minn., north to the Cana¬
dian Northern at International
Falls, 98 miles.
$6,000,000; par, $100.
1601; V. 102, p. 152.
Capital
stock
auth..
Controlled by Canadian Northern
Ry., V. 98,
p.
v
SECURITIES.—The first mtge. 4% deb. stook of 1910 Is
guar., p. A I., 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 is reserved to retire the Duluth
Rainy Lake A Winnipeg bonds (ex¬
tended in 1916 to 1921), the
remaining bonds to be available for further ex¬
tensions, Ac.
On payment of D. 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. B. L. A
W. stock in the meantime
being
vested with the trustees, the National Trust Co. of
Toronto and the British
Empire Trust Co.
V. 102. p. 152; V. 90, p. 1490; V.
91. p. 154, 1322.
The $2,000,000 Dul. Rainy Lake A W. bonds were
extended
In 1916
to Jan. 1 1921 (callable at par A
int.) with the unconditional guaranty of
prln. and Int. or Dul. Whan. A Pac. and Can. Nor.
V. 102, p. 152.
In Dec. 1917 made a mortgage to secure
demand loan from Canadian
Government.
V. 105, p. 2364.
—Jan. 1-Mar. 31
EARNINGS—
Net
—(V. 105,
p.
1920.
1919.
$584,968
85,728
Gross
$539,673
95,433
Jan. 1 -Dec. 31
1919.
1918.
$1,913,689
156.990
2365.)
$1,712,066
226,663
A DURHAM St SOUTH CAROLINA RR.—Durham. N.
O.. south 42
miles to Duncan on Norfolk A Southern.
Stock, $500,000; par, $100.
Bonds, see table.
Year 1918, gross, $183,160 net,
$88,602; Int. on bonds.
$15,000; surplus. $73,602.
£res., Ernest Williams; Aud.I R. S. Harris!
Lynchburg, Va.—(V. 106. p. 189.)
★ DURHAM St SOUTHERN RY.—East Durham to Dunn. N.
O., 57 m.*
Durham to East Durham. 2 m.
Stock authorized,
$2,000,000; out.. Sl.»
350,000: par, $100.
In 1918, gross, $345,094; net, from
railway operations,
$112,439; taxes (incl. war), $29,122; other income (def.),
$8,220; net income.
$75,096.
Divs. 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%; 1918 none (sinc^
Govt, control).
Federal Compensation.—$134,222 yearly
during Federal control.
N.
Duke. N- Y.s Sec.. W. C. Parker, N. Y.
O.—(V. 109, p. 577.)
Office, Durham,
★ DURHAM UNION STATION CO.—-Owns passenger station at
Durham,
N C., opened May 1 1905 and used
by the Southern Ry., Seaboard Air Line
Ry., Norfolk A Western Ry. and Durham A
Southern, whlob each own onefourth of $33,300 stook.
Lease provides for rental by several lines
sufficient
to pay Int. and other charges.
Pres., H. W. Miller; Sec., O. D. Mackay.
A EAST BROAD TOP RR. & COAL CO.
(Pa.)—Owns from Mt. Union,
to Alvan, Pa., 33 miles; Orbisonia to
Neelyton, Pa., 10 miles.
Rocky Ridge to Evanston, Pa., 4.93 m.; Coles to Mlavalley, 2.58 m.;
total;
50.03 m.
A coal road opened in 1874.
V. 97, p. 1683, 1822.
Stock,
$938,700 (par $50). of which $246,000 Is 6% non-cum.
pref.
Second mtge.
4% Income bonds. $464,400. due Jan. 1958, given in 1908 for back
interest
from 1885.
Year Dec. 31 1918, gross. $515,827; net,
$101,438; other in¬
come, $19,723; interest, $42,276;pref. dlvs. (6%). $14,805;com. divs.
$41.4V2; bal., $10,867. In 1917, gross, $429,608; bal.. sur.. $131,11
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.
Pa.,
This total entered in the accounts but does not
represent an amount of
compensation agreed upon, no contract having been
signed.
x
Jan. 1 -Dec. 31
-
1918
1916-17
Operated
A DULUTH St IRON RANOE RR.—Owns Duluth to
WInton, Minn.,
120.12 m.; Tower Jet. to Tower, 1.40 m.; Allen Jet. to
Virginia, 24.53 m.;
McKlnley to Eveleth. 9.05 m.; Waldo to Winton, 15 m.; Mesaba to
Dunka River. 17.24 m.; Robinson to Burntslde
Lake. 3.16 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 mi
Owns ore docks and yards on Lake Superior costing over
$1,500,000.
1919.
$956,953
REPORT.—For cal. year 1918, V. 109, p. 67
(x Federal compensation):
Year—
Gross.
Over.Inc. Fed Comp. Oth
Inc,
Charges.
Balance.
31
Net
1920.
$1,031,085
def.136,587
V.
110, p. 1193.
Office. 406 Lafayette Bldg., Phlla.—(V. 110, p. 1186.)
A EAST CAROLINA RY—Owns Tarbcro to Hookerton, N. C., 38
miles.
Incorporated In North Carolina July 1 1898.
Leased to Pres. Henry C.
Bridgers for 4% yearly on stock, payable Dec. 10.
In Jan. 1919 short
line contract with U. S. Govt, was signed.
Y. 108.p. 480.
Stock auth.
$200,000; outstanding June 30 1916, $55,500; par, $100.
Bonds, see table
ablve.
For ^ear ending June 30 1916, gross, $70,553;
net, $18,715; other
income, $6,655; int., Ac., $25,371; balance, none.
Pres., Treas. A Gen.
Mgr., Henry C. Bridgers; Sec., Haywood P. Foxhall.
Office, Toronto.—
(V. 108, p. 480.)
★ EAST
MAHANOY
RR.—Owns from East Mahanoy Junction to St.
Nicholas and branches, 11.35 m.; 2d traok, 4.26
m.; total track
20.97 m.
Re-leased Deo. 11896 for 999 years to Little Schuylkill Nav.
RR. A Coal Co.
at 5% onstook.and lease assigned to Phlla. A
Read.Ry. Of the
000
was
stook. $280
deposited by Read. Co. under its general mortgage.—V.
106,
p.
-
923.
★Government
52
CI Paso Southwestern Co—Stk (auth $35,000,000)
ElfPaso & S W RR—1st A Ref M g $25,000 p m ...F
CI Paso Union Pass Depot—1st M g $240,000 sf.Eq.x
Elgin Joliet A Eastern—1st M ($10,000,000) g.Cex.o*
Elmira A Lake Ont—Sodus Bay A So—1st M g.Un.xo
Eimira A WilUamsport—Stook oom 5% rental
N.o
Preferred stook 7% rental 999 years Northern Cent
First mortgage extended 1910
kv
Income bonds 999 years to run
zo*
Toledo to Palmyra
Erie & Pittsburgh—Stook 7% rental 999 yrs Penn Co.
Special guaranteed betterment stook $2,500,000—
General mtge (now 1st) $4,500,000 gold guar.UnJf
Erie Railroad—Common stook $153,000,000 auth
Erie & Kalamazoo (leased) stock
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
8
Q—M
458
1903
2.81
1905
181
$100 $25,000,000
5.055,000
1,000
180.000
1,000
1,000 10,000,000
500,000
1,000
50
500,000
50
500.000
963,000
1,000
500
670,000
50
300,000
50
2,000,000
50
1.723,800
3,806,000
1,000
100 112,481,900
100
16.000,000
100 47,904,400
1891
1884
34
73
73
73
1860
1863
"22
83
83
83
1895
Second pre! stook 4% non-cum redeemable at par..
First pref stook 4% non-cum redeemable at par...
A—Old Bonds Assumed—Roads
Consolidated
1897 gold.xo*
cal[ llO.-zo*
gold
zo*
Fourth mortgage (extended in 1880) gold
zo*
Fifth mortgage (extended In 1888) gold
xc*
Erie Ry 1st M Buff Br Hornellsv to Attica gold.zo*
First consol mtge $30,000,000 gold $ or JE.F.zc*
NYLE & West First Consol mortgage gold
zo*
Buff AS W 1stMgold ext 1918at6%red 105 g.xo*
Newburg & N Y 1st M gold extended in 1889. - vo*
Ch & Erie 1st M g (Marlon O to Ham'd Ind).Ce.zc*
Erie & Jersey 1st M g s f red text
a.c*&r*
Genesee River 1st M gold s fd red text
G.c*Ar*
Chicago & Atlantic Term 1st M ext 1918 gold_.CezB—Erie Railroad Company Bonds
2nd mtge on Buff A S W gold ext 1918—
G.xo*
NY & Erie 1st M Plerm to Dun ext
Second mortgage (ext In 1919) gold
Third mortgage (extended In 1883)
1,000
1,000
1,000
1,000
447
1847
447
447
1849
1853
475
1857
475
60
526
526
1858
500
Ao
1861
1870
1878
1877
1868
1890
1905
1907
200
Ao
67
12
1,000
500 Ao
50 Ac
67
(1) Prior lien bonds $35,000,000 gold—F.xo* Ar
General lien $140,000,000 gold
F.xo*Ar
v^u.—A holding company,
the El Paso A N. E. Co. (which see above) and El Paso S.W.RR.
and other properties.
Capital stock $25,000,000 (largely owned
controlling
(see below)
by Phelps,
Dodge A Co. mining interests). Dividends: 1910, 7% cash and 10% stock;
I
8% p. a.
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.
Net
-Jan. 1 to Dec. 31
1919.
1918.
$3,128,870 $12,761,390 $14,790,467
1,160,350
3,874,948
6,161,447
REPORT.—Report of entire system
Dec. 31 1918, V. 109, p. 369.
1918.
1917.
(1,028
miles)
Oper. revenue 14,790,468 13,634,863
Net oper. inc. 6,161,447
6.334.904
Tax accruals..
Accrued comp.
U. S. Govt. 4,135,114
Other income. 2,656,592
Miscellaneous
6.791.706
Total
Loans and bills
Rentals
(8%)
year
1918.
$
Deduct—
Divs.
for
—
242,692
2,904,410
92,904
2.000,000
ending
1917.
$
612,704
4,036,459
38,476
2,000.000
2,424,174
8,759,078
Bal.. surp_. 1,551.700
payable Dec. 31 1918,
2,071,439
600,000.
Notman.—(V. 109, p. 172,
Pres., T. M. Schumacher; Sec.-Treas., Geo.
368.)
★ EL PASO & SOUTHWESTERN RR.—E1 Paso, Tex., to Tucson, Ariz,
and branches, 457 miles.
Owns Burro Mtn. RR. Co. Jet. to Tyrone
N. M., 13 miles.
Forms the western division of the El Paso A Southwestern
system (see El Paso A Northeastern Co. above), its $14,000,000 stock and
$5,055,000 1st M. 5s being held by the El Paso A Southwestern Company,
which
see.
Federal
(V. 103.
p.
Compensation.—$4,145,102 yearly during Federal
1705; V. 101. p. 287; V. 107, p. 82. 498, 1003.)
control.
★ EL PASOjUNION PASSENGER DEPOT CO.—Owns depot at El Paso,
Tex., which was completed about Nov. 1 1905.
Leased by El Paso North¬
eastern, El Paso Southwestern, Galveston Harrisburg A San Antonio (Sou.
Pac. Sys.), Atch. Top. A Santa Fe. Texas A Pac. ana Mex. Cent, railroads
on a wheelage basis providing for maintenance and all charges.
Stock
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.,
C. K. Dunlap; Sec., V. R. Stiles; Treas., U. S. Stewart.—(V. 107, p. 1287.)
do
do
N May
S Sept
1947
A
1939
50 Church St, New York
A
S Moh
1923
A
A
0 Oct
1920
J P Morgan A Co, N
do
do
J
A
D June
1928
do
do
J
A
J July
1931
do
M
A
S
Sept 11920
do
do
do
M
A
S
J
A
Sept 11920
J July 1928 (text)
J
A
J Jan
M
A
N
J
A
J
J
A
J
da
do
11982
1 1955
1 1957
do
do
do
Y
do
do
1 1929
1 1996
N. E. RR. of Texas, $300,000
N Y
do
A
1 1996
(no bonds Issued), and all the stook ($100,000) and all the bonds ($1,500,000) of the New Mexico Fuel Co., the latter covering 3.500 acres of coal
lands.
▼. 74, p. 776.
The other issues are guaranteed.
New York offioe. 99 John St.—(V. 87. d. i«05 )
A Co.
M
J Jan
Ry. A Coal Co. ooll. trust 5s of 1897 are
bonds of El Paso A N. E. Ry. of New Mex. ($2,-
1919.
P Morgan
do
M
J Jan
Canadian National Ry. System.
do
M
A
Pa.
9' 9
do
do
Phila
do
Lincoln Nat Bank. N Y
2%
2%
April 1907
April 1907
A
,
Jan. 1 to Mar. 31
A
Station,
1X AmerExchNatBank.NY
do
do
MarlO '20
IX
Penn RR Agent, Phlla
J July 11940
J
BONDS.—The New Mexico
1920.
J
St
do
O Oct 12862
A See text
MarlO '20
J
El Paso A Northeastern
miles, with
Ry., Oarrigosa to Santa Rosa, 128 m.; Alamagordo A Sacramento Mtn. Ry.. Alamasordo ,Ni. M., to Russia. 31 m.: Dawson Ry.. Dawson to Tucumcari. N.M.,
132 m.; total, 461 miles.
Name changed from New Mexico Ry. A Coal Co.
in 1905.
Operated as eastern division of El Paso A Southwestern Company,
which also owns Burro Mtn. RR. Jet. to Tyrone, N. M., 13 m. See below.
The Dawson Ry. A Coal Co.,
stook $100,000, has Issued $3,000,000
oollateral trust bonds, which are guaranteed, principal and interest, and are
secured by the stock and bonds ($3,000,000 each) of the Dawson 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.
STOOK.—Stock. $12,000,000.
Owned by EI Paso A Southwestern Co.
$3,628,290
1,134,621
A
Q—M
Q—M
4 g
4 g
EL PASO & NORTHEASTERN CO.—Owns the
EARNINGS.—
A
F
1,000 35.000.000
1,000 r35.885.000
RR. and Ry. from El Paso, Tex., to Corrizosa, N. M., 144
branches, 26 m.; controls and operates El Paso A Rock Island
Gross
3*
4 g
2,482,000
5 g
2,149,000
4H
4,617,000
5 g
2,926,000
4 g
709.500
182,400
i *
7 g
16,891,000
7 g
3,699,500
1,500,000 (5) 6 g
250,000
£ *
12,000,000
7,327,000 I
6 g
6 g
5,941,000
300.000
5g
11997687
A
7
7
Broad
do
J July 1928
V.-P., M. Bailey.—(V. 110, p. 1088.)
1911 to 1915, 5% yrly.; 1916, 6%; 1917^0 1919,
5
Text
Treas Pa RR.PhilaAN Y
1 1950
A
.
★ EL PASO SOUTHWESTERN
Jan
A
EDMONTON DUNVEOAN & BRITISH COLUMBIA RY.—From
Edmonton, Alberta, through Dun vegan to the western boundary of the
Province at 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, 48H miles.
Carbondale, Alberta, northward to Lac la Biche, Alberta, 113.2 miles.
V. 102. d. 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.
A int., by the Province of Alberta.
The $2,420,000 1st M. 4Xs of 1916,
with same guaranty, cover 120 miles of extensions.
V. 103, p. 938.
See
V. 95, p. 1273; V. 96, p. 419, 1422.
Announced in March 1920 that nego¬
tiations were under way between the Canadian Government and the com¬
700,000 of each), the stook of the El Paso A
A
J
since 1908-09; In 1909-10
1912-13. 18%; 1913-14
4%. For year endin
Dec. 31 1916, gross, $271,162; net, $129,757; other income, $7,691; interes
Ac., $43,976; cfiv. (12^%). $61,350; sur., $32,122.
For 1917. gross, $288
404; net, aft. taxes, $90,353. Pres., F.P.Howe, Johnson City.—(V.96.P.269
secured by the stook and
4
J
J
Capital stock, $490,800. Dividends, 4% paid
1910-11.9% A 10% extra; 1911-12. none;
17%; 1914-15, 15H%: 1915-16. 13H%; 1917,
for the absorption of the road into the
See text
5 g
8%;
Pres., J. D. McArthur, Winnipeg;
A
A
J July 1 1924
MAN See text
W63.000
WESTERN NORTH CAROLINA RR.—A nar row
gauge 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 Oranberr
pany
J
1,000
A EAST TENNESSEE &
.
J
7
1895
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 1896 by the
Phlla. A Read. Railway Co.
Of the stook, $1,275,300 was owned by Read
Ing Co. Dec. 31 1918, $1,271,450 being deposited under gen. mtge. of 1897
1156. 1296.
Farm L A Tr Co, N Y
A
J Jan 1 1923
A
J Jan 1 1921-1935 Equitable Trust Co, N Y
71 Broadway, New York
MAN May 11941
J
May
July
July
J July
years
Payable
J
5 g
5 g
5
1,000
1,000
1.000
1,000 Ac
1,000
★ EAST PENNSYLVANIA RR.—Owns Reading. Pa., to Allentown,
35.77 miles; miles 2d main track, 34.64; all track, 101.21 m. Leased for
p.
Dividends are
See Text
1895
1895
32
Where Interest and
Places
and Maturity
1888
250
39
First Consol Mtge of 1895. securing—
V. 96.
Dividend
Last
Date
Road
first page. ]
[Vol. 110.
Control.
Miles
RAILROAD COMPANIES
[For abbreviatione, Ac., tee notes on
Iron A Coal Co.
APrlvace
RAILWAY STOCKS AND BONDS
Contract.
do
50 Church St, New York
do
do
do
do
1928 (text)
(text) 50 Church St, New York
50 Churoh St, New York
do
do
A ELGIN JOLIET & EASTERN RY.—Owns from Waukegan, III., on Lake
Michigan, via Joliet, to Porter, Ind., 129.95 miles, and branches; main line
owned, 194.96 m.; spurs to coal mines, Ac., 42.06 m.; trackage, 244.23 m.;
2d track, 41.65 miles; side and yard tracks owned, 180.43 miles; total.
703.33 miles.
Also leases Chic. L. S. A East., 16.14 miles, with 310.51
miles branches and spurs and
and sidings, for 60 years from
14.87 miles 2d track, and 143.85 yard tracks
June 1 1909, and, with the U. S. 8teel Corp.,
guar, its $9,000,000 4X% bonds, p. A i.
u. S. Steel Corp.
The company refused
Government guaranty.
V. 89, p. 1410. Controlled by
the six months extension of the
STOCK.—$10,000,000, as increased from $6,000,000 In June 1909; par
$100.
Dividend, 4% yearly (in Dec.) in 1899 to 1917.
Jan. 1 to Mar. 31
Jan. 1 to Dec. 31
EARNINGS.—
1920.
1919.
1919.
1918.
Gross
$5,558,212
$5,637,991 $19,310,380 $20,685,048
Net
1,417,154
1,639,738
4,557,847
5,899,772
Dec. 31
Cross
Net, after
Other
Interest,
Dividends Balance,
Year— Earnings.
Taxes.
Income.
Rents, cfee.
(4%)
Surplus.
$15,816,473 $4,199,663 $214,824 $3,588,746 $400,000 $425,742
14.138,323
4,731,971
199,539
4,194.705
400.000 336,805
Pres., A. F. Banks; V.-P., S. M. Rogers; Sec. A Treas., F. L. Koontz,
—(V. 110, p. 1289.)
ELKIN & 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
This line, projected from Elkin to Sparta, N. C.,
been completed and is in operation between Elkin and
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
about 75 miles.
Those interested in the plan are H. C. Chatham, C. B.
Penny, Winston-Salem, N. C.; J. Clinton Smoot, North Wiikesboro, N. C.;
R. A. Doughton, Sparta; J. F. Hendren, G. T. Roth and others of Elkin,
N. C.—(V. 110, p. 764.)
*
1919.
V. 109, p. 2074.
about 40 miles, has
Veneer. 16 miles.
★ ELMIRA & 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—
Gross.
Net.
Int., &c.
Deficit.
oper. inc. $9,946
$240,751
$230,625
$1,560,058
oper. inc.
$768
$240,755
$239,755
1916
1.355,492*
oper. inc. 30.771
211,186
180,416
★ ELMIRA & WILLI AM SPORT RR.—Owns from Willlamsport, Pa., to
Elmira, 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 divs. on the common stock are 5% and on the pref.
years
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 1917, rental, $130,020; deductions, $70,082; divs., $59,742;
surplus, $242.—(V. 97, p. 666.)
★ 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, 95^% per ann; 1917, 9X%;
191&, 9%; 1919, 3X% in Feb.—(V. 106, p. 817.)
PITTSBURGH RR.—Owns New Castle. Pa., to Girard, Pa..
Erie, 16.74 m.; total
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. A P. to deliver its ZH%
debentures at par for such advances and at maturity of the Gen. Mtge.
bonds to exchange new mtge. bonds therefor.
Debentures Aug. 1 1919.
★ ERIE A
79.56 miles; branoh to Erie dooks, 3.41 m.: trackage to
operated, 99.71 miles.
$634,570.
STOCK.—The special betterment
stook ($2,500,000 auth.) Is subordinate
guaranteed 7% dividends.
Dividends on old stook are
subject to a 4-mill tax on assessed value, on special betterment, tax-free.
EARNINGS.—Loss to the lessees in 1912. $46,222; 1913. profit, $38,332;
to the old stook, but
1914. loss. $111,322; 1915. loss.
$36,632;
$55,754; 1916. profit. $102,430: 1917, loss.
1918, loss, $213,250.—(V. 105. p. 2093; V. 106, p. 395.)
SERIE RAILROAD.—(SeeMap on preceding page.)—Embraces trunk line
Jersey City to Chicago, UL, and branches. 2,257 miles; second track.
om
1,236 miles; third and fourth tracks. 37 miles; total, all main tracks, 3,530.
Lines Owned in Fee—
Miles.
Piermont, N. Y., to Dunkirk,447
Buffalo to Jamestown, N. Y
66
Buffalo to Corning, N. Y
140
Hornell to Buffalo
92
Other branches
206
Stock all (a) or nearly all (b) owned.
aChioago A Erie RR
*250
aJefferson RR
*45
N. Y. & Greenwood Lake RY__
*54
Erie A Wyoming Valley RR...
64
aNypano Railroad
422
bTioga Railroad
58
Other lines
49
.
_
•
See
this
company.
Miles
Leased Lines—
Avon Gen. A Mt. Morris
*15
Montgomery A Erie
Northern RR. of New Jersey..
*10
*26
Goshen A Deokertown
*12
Rochester
A
Genessee
Valley..
Leased to Nypano RR.—
CI eve. A Mahoning Valley
Sharon Railway
Other lines
Trackage
*18
83
Other lines
RR.
*81
*31
15
75
Lines in system
2,259
N. Y. Susquehanna A Western. *221
bNew Jersey A New York RR.
*38
Frontier Electric RR., V. 106, p. 1900.
HISTORY.—On Deo. 1 1895 suooeeded, per plan In V. 61, p. 368. the
N. Y. Lake Erie A Western RR. Co., sold In foreclosure under its second con¬
solidated mtge.
The company holds in fee or through ownership of all or
practically all the stock of the subsidiary companies the line from Naw
York to Chloago (Including the Nypano RR. and Chlo. A Erie companies)
COAL PROPERTY.—The allied coal properties at last advices aggre¬
gated 12,400 acres of anthracite, of which about 9.000 acres, and 53,000
5ABSTON3CDKS
RAILWY
1920.]
Mat,
'U
Government
Contract.
54
RAILROAD COMPANIES
Miles
IFor abbreviations, Ac,, see notes on first pagel
Road
830,000,000
Penn coll trust M
General Mortgage (Series A,
convertible,
(Series B,
g s
APrivate
RAILWAY STOCKS AND BONDS
Date
Bonds
1901
1903
1903
I (text) Ba.xc&i
$10,000,000—G.xc*Ar
$12,000,000—xc*<kr
$50,000,000 ... iSeries D, $28,000,000
xc*Ar
Refunding A Impt Mtge $500,000,000 g Ser A
Ba
Collateral gold notes $15,000,000 g call 101 Ba.yc*
Equipment trust certfs—see table in text .....
1903
1916
—
1919
Par
Amount
Rate
When
Last Dividend
Value
Outstanding
%
Payable
and Maturity
Places Where Interest and
Dividends are Payable
1 1951
50 Church St, New York
A Feb
O Apr
A
4 g
1,000 Ac x34,000,000
1,000 Ac
10.000,OOO
1,000 Ac sll.015,000
A
A
A
S*
4 g
100 Ac U19627.100
500 tNone Mch' 19
1.000
15,000.000
6 g
A
C—Bonds on Properties Controlled by Ownership
Bergen Co 1st M Ruth Jot to Rldgew ext 1911 ...x
6
246,500
'68-'69
(560,000 are 2d) je
5
*66-'67
170,500
cMont A Erie 1st A 2d Ms (540,500 are 2d).....z
300,000 iH A
500 Ac
8 *67-'69
Jefferson 1st A 2d Ms ext (Honesdale Branch)
2.800,000
1,000
37 1889
1st M Carbon to S depot g ext "19 red 105.-FP.xo#
1885
7.500,000
1,000
Long Dock Co oons M g (now 1st M) (see textt.xo*
100 Ac
"52 1890
1.471,900
eN Y A Greenw L prior Hen M 51,500,000 geld—Nx
500 Ao
394,000
34 1880
bNew Jersey A New York 1st M ext in 1910
xo*
5
500 AO
631,000
1892
General mtge $1,200,000 (red 105 after 5 yrs) g
6 cur
1882
1,000
1,100,000
N Y L E A W 0 RR 1st M "lawful money'/.Mp.zo»
5 g
3.396,000
1883
1,000
NYLEAWD&ICo exg'13red text(V90,p 1776) F.xc*
500 Ao
8.000,000
4W g
N Y Pa A Ohio prior Den mtge gold 5 or £...P.ze*
422] 1880
and Shar
Do
Leased lines—see separate statements for CI evelan d A M ahoning
Valley RR
T! oga R R—See e ach oompan 7
N Y Susquehanna A Western—Northern New Jers ey5
22
420,000
Essex Terminal Ry Co first mortgage
6
600,000
134 1917
~~50d~Ac|
Evansvllle & Indianapolis—Receiv certifs call 10154 1884
1,000
647,000
Flrst mortgage gold guaranteed
......
F.xc*
§8
6 g
134 1886
1,000
1,853,000
Cons M ($2,500,000) g gtt p&Kend) E&TH-.P.xc*
Proposed securities under Reorganization Plan—
100
Common stock.
4,290,000
100 Ac
7 g
1st M 30-yr 7% gold bonds call after 3 years.. 102..
1,500,000
Evansvllle & Terre Haute—See Chicago A East 111! nois
32 1911
1.000
6
500,000
Fern wood & Ouif i?R—First mortgage 5500,000
Fitch burg RR—Bonds—See Boston A Maine RR ab ove.
O Apr
V
■
O
50 Church St, New York
Apr 11921
1928-1929
A
Apr
Oct
50 "Church ~St/New *Y or k
Fidelity Trust Co. Phlla
50 ChUroh St, New York
J P Morgan A Co, N t
11929
A
11935
May 11946
May 1 1950
Dec 311932
A
May 1 1922
A
July 11943
MAS Moh 11935
do
A
A
do
do
do
do
do
J P
do
Morgan A Co, N Y
Ry
J
A
J
A
J July 2 1942
J Jan 1 1920
J July 1 1924
J
A
J Jan
A
J
do
50 Church St, New York
A
on
do
do
50 Church St. New York
1 1922
Various 1926-1927
J
A
J July 11927-29
11
do
do
do
by (c) Lease
or
Various
eGoshen A Deck't'n 1st & 2d Ms
do
1,1953
Apr 1 1953
O Apr 1 1953
O
A
Valid y Stoo ks—See t hoseCompa ales.
of En tire (•) or a Maj ority (6) of Capital S took,
A
A
5
10 1881
200,000
1.000
Avon Geneseo & Mt Morris and Rochester A Genesee
IVqL. 110.
Control.
In default since Jan 1918
July 1914 coup not paid
do
do
1 1926
......
...
Semi-ann
MAN May 1 1936
InterstateTABkOo, N
O
31 191 8 as fo Hows: Of r $19,217.0 00 pledge d, $2,000 unpledged: s $4 39,100 pledged. $545,900
r s t u Further amounts owned by company Dec.
unpledged; t $14,650,000 pledged, $350,000 unpledg ed; u $8,372 ,900 pled ged; w $937 ,000 pled ged. xI ncludes $10,851 ,000 held in sinking fund.
of bituminous coal lands were held by allied companies, 14,000 acres
of bituminous held under mineral rights. / Its coal and coke tonnage in
acres
theyear 1916 aggregated 19,082,331 (40.46%) out of44,359,341 tons hauled.
Penn. coal properties acquired 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 bonds of 1895 have 10 votes for each
$1,000 of principal.
Provisions of pref. stock were In "Supplement" of
April 1897, page 3. V. 66, p. 335, 573.
Federal Compensation,
making available annually
1907. '08 to 1917;
Apr., 2
0
Apr., 2
0
BONDS.—First Consol. mtge. of 1895 for
$175,000,000 (Farmers
Loan A Trust 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
bonds.
Both series have voting power; see "Stock" above.
Of the $140,000,000 Consol M. Gen. Lien 4s, $92,668,000 were reserved for
ultimate acquisition of bonds and guaranteed stooks left undisturbed on
various parts of the system (see list, V, 62. p. 89), and $17,000,000 were
reserved for new construction, betterments, additions, Ao„ after 1897—
not over $1,000,000 to be used in any one year. On Dec. 311918 $55,104,000 Gen. Lien bonds had been Issued, of which $35,885,000 were in hands of
thepubUc and $19,219,000 owned by Erie RR. (on Dec. 311918 $18,217,000
of these had been pledged to secure the $15,000,000 notes and $1,000,000
for other obligations.—(V. 104, p. 1044).
V. 102, p. 2077; V. 97, p. 1898J
V. 100, p. 1168.
The collateral trust 4s of 1901 are seoured by 51% of the entire N. Y
Susq. A Western stook (526,000,000 total Issue), all of the Pennsylvania
Coal Co. stook, and the stook of the Erie A Wyoming VaUey RR., Soranton,
Pa., to Lackawaxen, 65 miles, and Delaware Valley A Kingston RR.
Sinking fund of 10c. per ton of coal mined from mines of Penn. Coal Co.
V. 71, p. 1219,1311: V. 72, p. 44, and circular, p. 136. 532,257; V. 79, p.
,000 inc
212; $10,851,000 included In the $34,000,000 "outstanding" were In sinking
fund Dec. 31 1918.
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
common stock/but the conversion period has expired for aU except series
"D" bonds which till Oct. 1 1927 are exchangeable at option of holder for
common stock at 50 ($200 par value of stock for $100 of bonds).
There
Is no Series "O".
The other series on Dec 31 1917 included:
Amounts Held by—
Public Go's Treas.
As Collateral.
Series A no longer convertible...—.$10,000,000
Series B
do
do
11,015,000
$545,900
$439,100
Series d convert till Oct. 1927
19,627,100
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, 641; V. 78, p. 768; V. 79, p. 2205; V. 84,
p. 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
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 each
$100 in amount of loan.
In May 1918 was authorized to amend the mortgage so as to make
possible
the extension of the old (underlying) bonds.
In July 1918 obtained permission from the New York P. S. Commission
to Issue further $12,500,000 6% series "B" Ref. A Impt. Mtge. bonds us
security for not over $12,500,000 notes issuable on account of improvements
and additions made and to be made.
V. 107, p. 82, 181, 291; V. 106, p.
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.
In Feb. 1915 sold $7,400,000 Erie A Jersey (closed) 1st M. and $6,000,000
4
______
4
2
4
a
total of approx. $19,954,068.
including those pledged under the $15,000,000 notes.
LATEST
Net.
1920.
1919.
107,
Genesee River 1st M. bonds.
Both Issues
are
subject to call
as a
whole
p.
3,981,670
191,687
2166; V. 110, p. 73.
For year 1917.
396, 901.
Miles operated. 2,257.
Total operating revenues.....
1918 (U.S.).
1917.
x$98,895,284 $79,776,367
x97,404,896
70,182,951
Operating expenses, taxes, Ac
Operating
income
Other income
part to July 1 1920 at 110, and thereafter at 115. Cumulative annual
sinking fund for each issue. Both roads have been merged in the Erie RR.
,Oo.
V. 100. p. 474,481.397,555,641.981,1437; V. 104, p. 863.
I
The $15,000,000 coll. notes dated Apr. 11919 are secured (atpar value) by
the following collateral (par value): (a) Consolidated General Lien 4s 1996,
$18,217,000 (b) 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% 20-
Sear gold bonds. Series "B," $5,400,000. ,The balance, not purchased by
ie 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,
2756; extension of Jefferson RR., $2,800,000 5% bonds in 1919 at 5
See V. 108, p. 1165.
(Extension of N. Y. A Erie, $2,149,000 2
5s, callable at 110.
See V. 109, p. 370.
,
Car Trust Series, Gold (Denomination $1,000 each).
See V. 88, p. 882.
Date.
Interest.
Outstanding.
Mature in Installments,
••Q"..x_—1911 AH FAA
"R"—x
1912 4)1 FAA
MS"_—x
1912 4)4 JAD
••T"—x—1913 5
JAD15
"U" —z
1913 5
J A3
•'V—x
1913 5
JAD15
$920,000
648.000
700,000
528,000
942.000
300.000
448.000
To Aug 1921
$230,000 s.-a.
To Aug 1922
108,000 s.-a.
To Dec 1922
100,000 s.-a.
To June 15 1923
06.000 s<-a.
To July 1*23 S117Mor$118MB.
To June 15 1923
100,006 yrly
•AA" x
1913 5
MAS
To Sept 11923
56,000 s.-a.
•BB"
1914 4)4 FAA
450.000 To Aug 1 1924
45,000 e.-a.
•CO"
1910 4H JAD
2,784,000 To Dee 1925
213.000 s.-a.
DD"
1916 4H JAD
874,500 To June 1926
62.500 s.-a.
BE"
1917 4)4 AAO 2.760.000 To Apr 1 1927
184,000
for rolling stock _alEquipment trusts issued to Director-General
located to this company.
See article on page 3
1916.
$74,311,262
55,682,662
$9,593,416 $18,628,600
x$l,490,388
Co. Acct.—Compensation receivable..y$15,729,068
Dividend income.
4,745,836
...
2,042,421
1,711,809
*6,796,629
1,890,607
571,715
Gross Income....
$21,046,619 $18,280,653 $22,382,830
$2,216,931
$2,411,743
2,276,331
2,261,274
2,245,031
Other rents. Ac....
305,612
968,761
1,012,200
Interest on funded debt...
10,448,818
10,535,042
10,361,414
Other Interest, Ac.................
768,347
246,504
238,573
Sinking, Ac., funds
1,027,140
1,205,177
964,124
Investment in physical property.
306,856
513,833
Hire of equipment
Rent for leased roads
.....
surplus
Balance,
$540,110
z$6,220,370
$4,631,912
are from report of U.S. RR. Administration and hence
closely with earlier years,
y Received to Dec. 31 1918, $11,000,000.
z Corporate results.
The Federal figures for 1918 show a deficit after
railway tax accruals and equipment, Ac., rents of $2,246,652.
*
Understood to include $6,000,000 received from the coal companies In
1917, compared with $2,000,000 in 1916.
Y. 106, p. 2559.
x
These three items
do not compare
OFFICERS.—Pres., F. D, Underwood; V.-P. & Gen. Counsel, G. F.
Browne]]; V.-P., G. N. Orcutt, Thos. C. Powell, Robt. S. Parsons, Robt. O.
Falconer; V.-P. & Sec., George H. Minor; Treas., W. J. Moody, 50 Church
N. Y.
DIRECTORS.—Gates W. McGarrah, A. M. Anderson, Ogden
St.
F. D. Underwood, Francis Lynde Stetson, Geo. F. Baker,
Mills,
Myron T. Her-
rick, B. A. Eckhart, L. F. Lotee, E. J. Berwind. Mitchell D. Follansbee,
Robert W. Pomeroy, Grenville Kane, Julius Kruttschnitt, Geo. G. Mason.
Geo. F. Brownell.—(V. 108, p. 268, 878, 973, 1274, 2022; V. 109, p. 370,
1700, 1986.)
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. 8. Steel
Corp., which In 1918 was constructing works at Ojibway, Can.
Or
$420,000 1st M. bonds, $206,000 were in hands of public Feb. 1918 and
$214,000 were on Dec. 311918 held in the treasury of the U. S. Steel Corp.*
subject to sale —V. 108, p. 1274.
★ EVANSVILLE & INDIANAPOLIS RR.—Owns Evansvllle to Terre
Was controlled by Chicago A Eastern
capital stock, but In May
1916 passed under management of Wm. P. Kappes, Indianapolis, Ind., as
separate receiver.
Foreclosure suits pending under both mortgages.
V.
102, p. 608,2077; V. 99, p. 119.
In Jan. 1917 $600,000 of a total authorized
issue of $675,000 of receiver's certificates was sold with, prior lien on road
for general rehabilitation.
V. 104, p. 863.
Committee for Bonds.*—-Harold Palagano
(Chairman), Edwin Gibbs
(Sec.); Farmers* Loan A Trust Co., N. Y., depositary.
Large majority
Haute via Worthington, 134 miles.
Illinois RR. by ownership of entire $2,000,000
,
„.
deposited.
V. 105, p. 1419.
Reorganization Plan.
or
In
^
$23,701,545 $19,729,516 $91,797,507 $87,855,460
def.$710,137def1,189,063
REPORT.—For 1918, see V. 109, p.
V.
V. 108, p. 1060.
Jan. 1 to Dec. 31
1919.
1918.
Jan. 1 to Mar. 31
EARNINGS.—
Gross
.
...
After deducting
all prior charges, it is said, there should remain a balance of $10,116,928 for
the payment of interest charges of only $5,204,160 on all of the 1st Consol.
Mtge. General Lien bonds and Gen, Mtge. Convertible bonds outstanding,
•05.'06.
_
$15,729,068 yearly during Federal control (lnel.
the Chicago A Erie RR.),
In addition the company will have non-operating
income which, it is estimated, will amount to at least $4,225,000 In 1919,
■
.
.
Wm. B. Cardozo,
G. T. Townsend,
plan of reorganization, dated March 16 1920, which provided as
.A committee, consisting of Harold Palagano, Chairman;
Ellis W. Gladwin, E. H. Ladd Jr., R. M. Smith and
adopted
a
follows I
Interest on the receiver's certificates is
Federal control.
unpaid since the beginning of
The principal of the certificates
(which matured Jan.. 1
1920) is also unpaid.
V, 104, p. 863; V. 105, p. 1449, 1801.
In view of these facts and the manifest difficulty of operating the B,«I,
property independently under existing conditions, the committee entered
into agreement with the Cleve. Cine. Chic. A St. Louis Ry. Co. whereby
the "Big Four" will 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
Surchasing the entire capital stock of election of CompanyFour," in bonds
1,000,000, payable in cash, or, at the the New the Big for the sum of
of the "Big Four" issued under its Refunding and Improvement
dated June 27 1919.
Mortgage
$4,385,240.
The cash
requirements of the reorganization were estimated at about $1,310,000.^
Outstanding indebtedness amounted to
about
£f St<u itles to
eAuthorized by New Company (after Foreclosure Sale.)
[Subject to prior claims underlying present mortgage debt, if unpaid.!
First Mtge. 30-Year 7% Gold Bonds (to be present issued), in¬
terest payable semi-annually.
Subject to call after three
years at 102 and int. on any interest date on 60 days' notice
Denom. $1,000, $500 and $100.
Mortgage limited to $2,500,000; issuable forthwith, $1,500,000; further amounts not
over $1,000,000 in ail, only under proper and carefully safe- J
guarded restrictions, only for betterments (including equip¬
extensions and permanent improvements,
ment). additions,
u
including rebuilding and reconstruction.
ommon
stock of
a par
Presently issuable
value of $100 per share
————
$1,500,000
4,290,000
RAILROAD
55
RAILWAY STOCKS AND BONDS
Mat, 1920.1 W
Flint & Pere Marquette—See Pere Marquette statem't
Florida Central & Peninsular—See Seaboard Air Line
Florida East Coast—1st M $12,000,000 g_Ba.xxc*Ar*
General Income M 5% non-cum $25,000.000
xx
Date
Par
Amount
Rate
When
Road
page]
Bonds
Value
Outstanding
%
Payable
Ry
017
Equipment trust certs ser A, due $50,000 yearly—
Equipment trust certs ser B (auth $1,000,000) due
$100,000 yrly
Florida West Shore—See Seaboard Air Line.
Fonda Johnstown A Gloversvilie—Common stock—
Pref stock 6% cum call at 105 $1,000,000 auth—
1st Consolidated mortgage $200.000
zo
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.xc*&r
Johnstown G A Klngsboro 1st M assum ext 1913-_z
Preferred stock 7%
cumulative
—
$50,000 due serially Dec 1 to 1937—
Fort Smith & Western—1st M $7,500,000 gold—.xc*
1st M g red 105
"T.666
2,500,000
0
500,000
6
200,000
4H g
500,000
4 g
800,000
4H g
5,150.000
5
50,000
6
350,000
2,500,000 5 In 1919
1,300,000 7 In 1919
5 g
5,500,000
4 g
0,240,000
100
1881
26
1897
26
1900
100 Ac
1,000
1,000
1,000
1.000
1,000
75 J1902
4 1893
14
1892
100
124
1913
Too
Ac
1,000
1904
Offered Present Bondholders—Measures to Meet Cash Requirements.
(1) Subscribing Depositors.—Depositors were allowed to participate in
providing the cash requirements by paying the sum of $400 as to each
$1,000 bond owned by them, respectively, on or before April 30, and make
LATEST
Terms
before May 10.
They received against each $400
so paid and on surrender of their certificate of deposit: (a) $400 new bonds;
(5) Stock Participation Certificates, entitling tne registered holder to
receive, if the "Big Four" option be not exercised, $1,460 of the new comn
dividends paid to the committee out of earnings of the new company
prior to the exercise of the "Big Four" option; (c) Final Distribution Cer¬
tificates, entitling the registered holder thereof to his proportionate share in
any balance of the reserved new bonds or of their proceeds or other moneys
which shall remain after all other requirements of the plan shall have been
any
1921-'22 N Y. U S Mtg & Tr Oo
O Oct 1 *20 to *27 NYUS
J
A
A
«
New York Trust Co. N Y
Farmers' L A Tr Co, N Y
See text
J
A
A
1 1920-38
O Apr
New York
1 1954
D Dec
A
Oct
(2) Non-Subscribing Depositors.—These will receive for each $1,000 bond,
Certificate entitling them to the same rights as the
Certificates offered to subscribing depositors as afore¬
said, except that the amount thereof will be $500 instead of $1,460.
(3) Settlement with Guarantors.—Both the First Mtge. bonds and the
First Consols bear guaranties as to principal and interest by Evansville &
Terre Haute RR. Co., of which Chicago & Eastern Illinois RR. Co. is suc¬
cessor.
The committee has made with parties interested in the contem¬
Stock Participation
Stock Participation
of
plated reorganization of the last-named company a tentative settlement
the claims upon these guaranties, under which it is expected that the com¬
mittee will receive for the depositors 40% of the principal face value of the
bonds
represented by the certificates of
deposit in common stock of the
reorganized Chicago & Eastern Illinois RR.
Such securities (or any other
securities or net cash which may be received in discharge of said guaranties),
will be distributed by the committee to and among the depositors regardless
of whether or not they shall have become subscribing depositors.
Provided that not less than $600,000 of the cash requirements were
subscribed by depositors, a syndicate agreed:
(1) To underwrite $400,000 additional of the cash requirements by pur¬
chasing at 95 such amount of the new bonds as shall be necessary to
$400,000 or such portion thereof as shall not be subscribed as
receiving in addition: (a) $1,000 Stock Participation Certificate against
each $400 paid by them; (b) a Final Distribution Certificate in the same
amount as offered subscribing depositors against each $400 paid; (c) as
commission, whether or not called upon for any part of said $400,000, new
bonds equal at 95 to 5% of such part of said underwritten $400,000 as shall
be subscribed by subscribing depositors.
(2) To purchase for cash at 95
an additional $326,568 of new bonds, accompanied by Participation Stock
Certificates in an aggregate par amount of $300,000, and also by further
Final Distribution Certificates as aforesaid.
Subscribing depositors were allowed to participate in the syndicate to the
extent of one-half of the Syndicate's holdings.
produce
aforesaid,
1
Offered
New Bonds.
Distribution of $1,500,000
Net
REPORT.—For cal "year 1918 "in
V7ll07p. 74.
primarily to subscribing depositors against cash payments
($400,000 thereof being underwritten by syndicate)
$1,000,000
the
Sold to syndicate at
95
Distribution of the
commission allowed them
21,053
326,568
152.379
Slock (Subject to the Purchase Thereof
-
—
Reserved
-
$4,290,000 New
under the
"Big
Four* Option).
1917.
—-
$8,140,167
3,638,972
$8,841,222
2,098,519
Estimated Federal compensation
Water line
2,338,590
Other income
21,420'
2,057,532
77,141
2,526,752
1,261,573
48,798
3,103,844
302,477
1,189,361
1,376.198
Deductions
Surplus
jTfheT H %"paid
IT
•
incomes for 1916 was due to changed
Pres., W. U. Beardsley; Treas., L. C. Haines.—(Y.
on
—$3,650,000
300,000
300,000
&c., $29,059; bal., def.,
$31,002; charges, $36,N. E. Ball; Sec., J. L.
$9,651.
In 1918, gross, $176,100; net, after taxes.
624; bal., def., $5,622.
Pres., F. B. Enochs; V.-P.,
Bentz.
Office, Fernwood, Miss.
RR.—See Boston & Maine RR.
Jacksonville, Fla., via St.
m.; total,
★ FLORIDA EAST COAST RY.—Owns from
Augustine to Key West, 522 m.; branches, 234 m.; trackage, 9
765 m.
Forms connection to Southern and Eastern Florida and
Cuba for the Atlahtic Oast Line, Southern Ry. and Seaboard
thence to
Air Line.
service from Key West to Havana, 96 miles, is now operated by
Florida East Coast Car Ferry Co., which in 1917 bought the boats, Ac., from
the railroad co.
V. 97. p. 1115, 1281, 1583; V. 99,.p. 400; V. 100, p. 140;
V. 102, p. 1340.
Oar ferry
STOCK.—$12,500,000. all sold at par.
2156; V. 106, p. 2194.
V. 107, p. 1344,
V. 90. p. 1840; V. 105, p.
/
"STANDARD RETURN," Ac.—See page
Federal Compensation,
497.
$2,408,170( contract signed).
Ben on 017
andI 1914.
1918, 2)4% paid
5%; Apr. 1
1920, 5%.
to
&
Fonda
RR.—Owns^>ond^o
GLOVERSVILLE
Gloversvilie to Schenectady (electric), 32.47
(eleotrlc), 8.70 m.; Belt line in Amsterdam
Gloversvilie (electric), 3.84 m.; Hagaman
22.75 m. Operates under
6.15 m. (steam); also local
line Gloversvilie to Johnstown (electric), 4.08 m.; yardings and Bidings,
13.82 m.: trackage, 3.98 m.; total, 88.77 miles of road (127.33 miles of
track), or which 104.54 on private right of way and 22.79 miles on streets
(electric), 3.78 m.j Belt line in
line (electric), 2.29 m.; second track (electric),
lease branch line Broadalbin Jet. to Broadalbin,
highways.
and
Owns
entire $105,000 common
Oo.
stock of Coal Oo. of Fulton
DIVIDENDS.—On com., 2%, July 20
1910; July 10 1911, 2%;
Pref. dividend paid regularly
1912 and 1913, 2%; none since.
Aug
6% per an.
auth.; $1,850,000 Is reserved to re¬
Guarantees $30,000 Gloversvilie A Broad¬
Glov. A K. 5s and $50,000 8% stock.
BONDS.—Oonsol. 4)4s, $7,000,000
tire prior liens.
V. 76, p. 265.
albin 5s and $50,000 Johnstown
LATEST
EARNINGS.—
$312,858
104,453
Jan. 1 -Dec. Sl^1919.
1918.
Jan. 1 -Mar. 31
1920.
1919.
Gross
Net
Co-operative contract signed
1919. V. 109, p. 577.
$1,123,133
426,248
with U. S. RR. Administration In August
$1,251,651
448,251
$261,377
76,362
,
REPORT.—For 1919:
aft.Tax. Oth. Inc. Int., &c.
$1,251,651
$391,607
$36,729 $372,550
1,123,137
375,266
33,371
393,701
1917
1,064,318
421,687
23,780
392,852
—(V. 106, p. 607, 2122; V. 107, p. 401, 501, 603;
Pref. Div.
Surplus.
(6%)$30,p00j ,$25,787
Years— Gross. Net
1919
1918
(6%) JO,000 def 15,063
(6%)30,000
22,015
V. 109, p, 577, 775.)
}
Des
★ FORT DODOE DES MOINES &
RR.—Owns from
Moines, la., to Fort Dodge, Boone, Ames and Rockwell City, 128)4 m.;
also extension to Lehigh and Webster City, 25 miles; total, 153X ™Ues.
Originally a steam line but now electrically equipped.
V. 97, p. 1357,
1426, 1683; V. 106, p. 393.
Govt, advances April 1 1918 to Jan. 1 1919,
$302,000.
V. 107, p. 2150.
DIVIDENDS—
On common
On
preferred...
1910.
1917.
1918.
1919.
3
0
6
5
—----——-Feb. 1916 to Nov. 1919, 7% (1)4% Q.-F.)
the Railroad Ad¬
Nov. 1 1918 on
paid several
It was hoped, might be restored to
as the compensation for Federal use should be fixed.
the preferred, and dividends of 1)4%
weeks late.
The common dividends.
on the common, were
BONDS.—Open mtge., V. 101, p. 1272,1972.
Due serially on Dec. 1,
$50,000 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 1)4 times interest, including bonds proposed.
V. 106, p.
1910, gross, $1,337,569; net.
$634,789: other income, $72,070.
For calendar year 1917. gross Income was
$1,528,500; net income, $698,263; annual interest on first mtge. bonds,
$284,892; pref. divs., $91,000: com. divs.. $168,750; bal., sur.. $144,621.
Pres. A Gen. Mgr., C. H. Crooks; Sec., Treas. A Aud., F. M. Johnston.
—(V. 107, p. 1579, 2187; V. 110, p. 1415).
EARNINGS.—Year
A FORT
ending
SMITH & WESTERN
June
30
RR.—Operates Fort Smith,
Ark., to Guth¬
miles, of whloh Coal Creek, Okla., to Guthrie, 196 m, is
Smith to Coal Creek, 20 m.. Is Kansas City Southern track¬
age.
In Oct. 1915 contracted for use of M. K. A T. tracks. Fallis to
homa City, 30 miles.
V. 101. p. 1553. Coal properties are developed
at MoCurtain, Okla.. 40 m. west of Fort Smith, producing an average of
30.000 tons per month.
Owns 51% of the oapltal stock of the St. Louis El
rie,
Okla, 210
owned and Ft.
Okla¬
Ry., Guthrie to El Reno, Okla., 42 m., oper Independently,
Gen. Mgr. Arthur L. Mills was made receiver.
V. 101,
Bonds deposited till July 1 1917, with a committee consisting of
Brown, A. W; Mellon, Colgate Hoyt, W. H. Oonnlff, W. G. Mather,
Reno A West.
On Oct. 9 1915
p.
1272.
W. L.
5.
BONDS. Ac.—The 1st M. 4H« ($12,000,000 auth.) are a first
miles.
V. 88. p. 1020; V. 94. p. 1185; V. 98. p. 1993.
Int. on incomes, 3)4%. paid 1910; 1911. 4%; 1912. 1913
each, 2H%: 1915. 4%: 1916. 5%: Nov. 1917. 5%; April 1
for 6 mos. on account of change of fiscal year of corp.; June 1919,
Gloversvilie
date of payments.
110, p. 464, 970,
395.
GtlLF RR.—Owns Fernwood to Kokomo, Miss., 32 m.
30 1916, $100,000.
Bonds, see table above. For
Stock outstanding June
★ FITCHBURG
JOHNSTOWN
Northvllle (steam), 25.47 m.;
m.;
7% per annum as soon
V. 107, p. 1579, 2187.
40,000
represented by their certificates of deposit
Sold with $326,568 face value of bonds to syndicate
Allotted to committee's nominee or nominees, for use in connection with insuring a proper management for the new company—(Y. 110, p. 1186, 1849. 2075.)
bonds
$219,017; net, $23,731;int.,
A FONDA
ministration,
.
$1,000
cal. year 1919, gross,
„
1916.*^
$7,094,927
3,169,670
Owing to delay In getting the dividends approved by
the usual 1)4% dividends due Aug. and
Offered to subscribing depositors against cash payments with
bonds as above (or up to $1,460,000 if not so taken to sub¬
scribing depositors or syndicate on basis above indicated,
against subscriptions)
For additional distribution to non-subscribing depositors to make
up, with the above $460 above mentioned, $500 for each
AFERNWOOD &
Vfe* '
g
1918.
Gross operating revenue
Net operating revenue
SOUTHERN
at par
For syndicate, to cover at 95
5%
on the $400,000 so underwritten
1907 coup last paid
Jan. 1 -Mar. 31
Jan. 1 -Dec. ?
1920.
1919.
1919.
1918.
$3,992,819 $2,965,791 $10,121,222
$8,841,222
1,611,520
" 480,340
1,860,606
2,098.518
EARNS.—
satisfied.
a
Bk,Glov'lle,NY
FulOo N
O Oct 1 1922
See text
NY
do
do
J July 1 1933
A
do
New York Trust Co,
do
do
O Apr 1 1921
J July 1 1947
J
A
J July 1 1950
MAN Nov 1 1952
&
Q—F
Q—F
Mtge & Tr Oo,
Aug 15 '13 2% Checks mailed
do
Mar 15*20 1)4%
A
J
14 Wall St
New York
July 1 1959
Q—M
A
Dividends are Payable
Bankers Tr Co,
D June 11959
N May 1
&
Gross
the cash payment on or
{)any's purchase price or, if theto the requirements of the plan), and also in
the capital stock, (subject
option be exercised, his proportionate share
A
6
800,000
1,000
&
Places Where Interest and
and Maturity
text
M
5
100,000
A
See
5
25.000.000
100
26
4H g J
$1,000Ac $12,000,000
1917
G gold.Nz
Cayadutta Eleo 1st M guar p & 1 by F J &
Fort Dodge Des M & So—Common stock
1909
1909
1914
Dividend
Last
Miles
COMPANIES
[For abbreviations, Ac., see notes on first
ut
date set for sale.
S. 1446; V. 92, p. 527.
no
Released from Federal
V. 103, p. 1592.
In Oct. 1910 was ordered sold under foreclosure,
control. V. 106, p. 2757; V. 107, p.
1003,
Proposed improvements, V. 110, p. 1972.
8tock, $5,000,000, all outstanding; par $100.
For the 4s of 1904 ($7,500.000 auth.), Superior Sav. A Trust Oo., trustee.
Car trusts outstanding
Dec. 311919, $24,652.
Bills payable outstanding Dec. 311919, $370,000*
Government
Control.
56
RAILROAD COMPANIES
Miles
Date
[For abbreviations, Ac., see notes on first page]
Road
Bonds
Eq tr Ser C $56,000 s-a red aftMay'20 102)4— FP
Gainesville Midland—First M $1,000,000 g red at 110
Notes $400,000 auth extended to Oct 1 1922.
Gal vestonHarrisb&San Antonio—lst&2dM g 1 gr ext o*
Western Division 1st M (Mex & Pao ext) gold-—x
do
do
2d M "stamped" guar p A 1
Rate
Wlxen
%
Payable
$1,000
$1,000,000
100
I
2,291,416
8.176.000
728.000
98
1881
1,000
"74
1915
1905
1,000
1,000
100 Sec
1,000
1.000
1913
256 '71-80
671
1881
1881
1910
50
Galveston Hous & Hendof 1882—1st M,g,Col yo*&r"
Galveston Terminal—1st M $5,000,000gu (text)-Ba.x
Galveston Wharf Co—1st (r e) M gold s f
zo*
First series (wharf A railroad) gold 5s sink fund.zo*
Second series (wharf & railroad) gold 5s s f—zc*
l'ooo
1913
1908
1882
Dlv 1st M $10,000,000 auth—.
1890
1899
16
Senesee & Wyoming Southern—See N Y Central BR
Corning & RR—1st M gold $500,000—Col
See text
325,000
5.728.000
13,418.000
2,539,000
9.022.000
1,000
1,000
1,000
1,000
1,000
1,000
1901
Last
Amount
454
2,122,000
1,106,000
907.000
488.000
&
J Jan 1 1941
MAS Mar 1920
4K
6H
J
J
A
D Deo
iH
M
&
N May 1 1925
8*
8'
I'
si
Central Union TrCo, N Y
L A Tr Co, N Y
2H Farmers'
Office, 32 Nassau St, NIY
Fidelity Trust Co, Phiia
Chatham Bank A Tr Co
Various 1935
MAN May 1 1931
So Pao Co 165
J
A
A
M
A
S Moh 1 1938
A
f
A
A
J
A
A
A
Owned by Sou
Pao Co
B'way.N y
July 1 1931
D June 1 1940
O Apr 1 1933
A
J
P
1 1921
Places Where Interest and
Dividends are Payable
MAN Nov 1 1935
Oct 1 1922
Q—J
6
489,000
1.363,000
Dividend
and Maturity
6 g
6 x
[Vol. 110.
Control.
Outstanding
Par
Value
1891
__Cex
Fort Street Union Depot—1st M gold...
Fort Wayne & Jackson—Preferred stock 5 H% rental
Ft Worth & Den City—1st M g $18,000 pm Ba.zc*
Galveston-Victoria
APrlvate
RAILWAY STOCKS AND BONDS
July 1 1932
O Apr
1 1940
Aug 1 1926
Apr 1 1929
do
do
Columbia Trust Co, n y
Bankers Trust Co, n y
Nat City Bk, N Y, or Ga!
do
do
do
do
Columbia Trust Co, n y
(•neva
Georgia & Alabama—Georgia Carolina & Northern— See Se aboard Air Line Ry.
99 1906
1,000
Georgia Coast & Piedmont—First M g $l,000,000_Gx
Income
debentures
1912
1912
x
-
,
Gen. mtge $8,500,000 auth gold red
105
Colx
Georgia & Fla—Common stock $15,000 per mile—
Pref stock non-cum partio. $10,000 per mile
Mlllen & South 1st M
Colx
Receivers' certificates $500,000
Georgia & Florida mtge $12,000,000 gold
axc»
Gen M g (cum lnc for 10 yrs) red par
FBa.xc*
Georgia & Florida Term M $200,000 guaranteed—x
Georgia Florida & Alabama—First mtge gold —Ba.c*
100
•
100
53
1905
284
1917
1907
500
Ac
1912
500
Ac
Text"
1910
1904
Jan.
EARNINGS.—
32,000
69.800
1.665.000
5,250,000
3,500,000
212,000
500,000
"Too"&c
1,000
1 -Mar. 31
1920.
1919.
★ FORT STREET UNION DEPOT.—Owns passenger station with ap¬
proaches, 1.4 m., connecting with Detroit Union RR. Depot A Station Oo.
property, leased for 990 years from Dec. 10 1889 to Wabash, Pere Mar.
quette 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.
The 6% gold notes,
original issue $329,000, were paid at maturity July 1 1918.
Pres., C. S.
Sikes
Detroit.—(V. 100.
D.
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. 50, p. 812), and after 1887 any net earnings
over 8% on pref. stock to be paid on com., but not exceeding 2% a year
Common stock, $436,132.
V. 106, p. 601.
★ FORT WORTH &
DENVER CITY RY.—Ft. Worth. Tex., to Texline
Owns securities of Ft. W. A Den. Term. Ry.
STOCK, Ao.—Colorado A South. Ry. Dec. 1918 owned all but $13,984
of the $9,375,000 capital stock, the latter Including $6,835,008 common
and $2,539,992 stamped stock.
V. 63, p. 1063. 75.
Compensation under Govt, contract, $1,891,386. V. 107, p. 2376.
Payments under stamped stock agreement of Oct. 12 1895; 2% in 1898;
1899,2%; 1902. 2%: 1903 A 1904,4%; 1906 to 1912. 4% each; 1913 to 1916.
6% each; 1917, 8%; 1918, 8%.
BONDS.—Abstract of mortgage, V. 45, p. 440.
Certfs. of Indebtedness
owned by Colo. Sou. Dec^31_1918. $299,917.
Equipment trust, V. 82.
454 miles.
July 1 1936
1 1962
a" a"
o Apr
5g
A
O Apr
A
1 1955
MAN Nov 1 1956
c
5 g
A
A Feb 1 1932
2,000,000 See text F
J
A
J July 1 1930
6
200.000
5 g
J
A
J July 1 1954
2,113.000
Interest In default
Int
only
pay
when earn
Oct 1914 coup In default
Hanover Nat Bk, N Y
See text
Bankers' Trust Co. n y
★ GALVESTON HOUSTON & HENDERSON RR. OF 1882.—Owns from
ualveston. Tex., to Houston, Tex., 50 miles.
See V. 61, p. 1013.)
Gross
-
MAS Mch 1 1946
55
5,600,000
1,000
1,000
$454,658
$347,702
Net
def .6,643
33,728
For year ending Dec. 31 1919, gross, $1,646,460; net after taxes, &c.,
$303,262; int., rentals, &c., $340,416; bal., def., $37,154.
In 1918, gross,
$1,296,857; net, $176,382.
Pres., A. C. Dustin, Cleveland, O.—(V. 107,
p. 1003).
1*
ORGANIZATION.—The M. K. A T. and International A Great Northern
have had trackage rights since Deo. 1895 under a oontraot 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.
Divs., May
1904 to 1900, 4% yearly; since to July 1 1913, none.
M. K. A T. owns
shares of stock.
Of the 1st gold 5s ($5,000,000 authorized Issue),
4.999
$1,000,000 is reserved for not over 90% of cost of new equipment.
Redeem¬
able 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. $434,740, agst.
$350,715, and net, after taxes, $71,134, against $23,818.
Federal contract,
signed in Jan. 1920. fixes ann. compensation at $127,366.—(V. 110, p. 464.)
★ GALVESTON TERMINAL RY.—Owns extensive terminals at Galveston,
Tex., used by Trinity & Brazos Valley Ry., Colorado Southern and Chic.
R. I. & Paclttc, which own practically all the stock.
V. 87, p. 950.
Owns
large freight depot and warehouse and about 14 blocks along Galveston
In June 1918 operated 3.49 miles of main line and 20.33 miles
sidings.
Stock,
$25,000. Of the first 6s
($5,000,000
authorized
Issue) $1,051,000 guar, jointly by the Oh. 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.
Huhn, Houston, Tex.; V.-P., Chas. Fowler; Sec. A Treas., E. R. Cheesborough, both of Galveston, Tex.—(V. 100, p. 2085.)
a
water-front.
of
★ 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.
8tock outstanding at last advices, $2,626,600; par, $100.
Dividends In
1904, 3H%; 1905, 4H%; 1906 to 1908, 5% yearly; 1909, 4^%; 1910 to
1913, 5H%; 1914. 5J*%; 1915, 4*4% (unofficial); since.
Compensation under Govt, contract, $526,069.
V. 108, p. 170.
LATEST
Jan.
1 -Mar. 31
Jan.
1 -Dec. 31
EARNINGS—
1920.
1919.
1919.
1918.1
$274,364
$191,925
$988,814
$1,049,837
Net
25.283
116,901
362,148
43,822
Pres., John Sealy; Sec., Treas. A Gen. Mgr., J. J. Davis,
Office, Galveston, Tex.—(V. 107, p. 1195; V. 108, p. 170.)
Gross
by Ft. w. A D. O.'Ry.
V. 86. p. 52. 1100, 1589; V. 87. p. 949.
Equipment trusts issued to Director-General for rolling stock allocated
See article on page 3.
to this company.
Jan.
EARNINGS.—
Gross
1 -Mar. 31
1920.
1919.
r
I
J(tn.
1919.
1 -Dec. 31
1918.
$2,924,130
$2,438,569 $11,162,302
$7,950,341
Net
427.597
571,632
3,413,068
1,913,719
RESULTS.—For years ending Dec. 31 1918 (V. 109, p. 672) shows:
Standard return, $1,891,386; other income, $117,037; total
income, $2,008,423;int., rents, Ac., $1,111,085;div. (8%),$639,152; bal., sur.$25^,18l
Calendar
Gross
Net (after
Other
Interest, Dividends Balance,
Years—
Earnings.
Taxes).
Income. Rents.Ac.
(8%).
Surplus.
1918
$7,950,342 $1,597,574 $231,871 $977,894 $639,152
$212,398
1917
0,546,863
2,050,860
438,881
705.678
639,152
1,145,011
1916
6,052.375
2.257,502
Pres., Hale Holden.—(V. 110, p. 970, 1289).
-
★ GAINESVILLE MIDLAND RY.—Owns Gainesville, Ga.. to Athens, 42
miles, standard gauge, and Belmont to Monroe, 32 miles,
gauge now
standard. V. 79. p. 151. 269. 500.627. Stock, all out. $550,000
Of the 1st 5s of 1905 ($1,000,000 auth.), $661,000 has been sold and
$14,000 la reserved to retire old 6s; $26,000 treasury bonds and $192,000 issued
to
coyer broadening gauge of 32 miles are pledged to secure an issue of
$400,000 3-year 6% 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 1550,000
cap. stock.
Of these notes.
$325,000 are Series A. having a prior lien on the collateral and $75,000 Series
B. $250,000 of Series A have been Issued and Installments paid thereon to
the extent of
$213,285; Series B is all
out.
The Series A and B coupon
1919 and again to Oct. 1 1922.
Oo. Is mtge. trustee.
V. 81. p. 1375, 1550
notes of 1913 were extend d to Oct. 1
The Chatham
Bk. A
Tr.
Federal Compensation.—$22,731,yearly during Federal control.
Year ending Dec. 31 1917, gross. $192,682; net, $33,751;
int., taxes. Ac.,
$77,805; bal., def., $44,054. agst. $19,419 In 1916.
Pres.. Geo. J. Baldwin;
V.-P. & Sec., Gordon C. Carson; V.-P., W. W. Mackall; Treas. & Gen.
Mgr., W. B. Neazey.—(V. 108, p. 1060, 2629).
★ GALVESTON H ARRISBURG A SAN ANTONIO RY .— (See Map Southern
facific.)—Owns Galveston via Houston, Tex., to 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. 2642; V. 81, p. 211, 668, 1242; V. 83,
p. 1528.
Annual compensation under Federal contract, $3,230,645. V. 108, p. 9741
"STANDARD RETURN," Ac.—See page 5.
BONDS.—See V. 92, p. 1636: V. 94, p. 130; V. 96, p. 1772; V. 107.
p. 1482.
Western Divs. 2ds $2,539,000 are "stamped" with a guaranty by
Southern Pacific Co. of payment of principal and interest as reduced from
6% to 5% from Jan. 1 1915. V. 100, p. 397. Equip, bonds, $1,558,000 6s,
owned by Southern Pacific. V. 70, p. 1300; V, 77, p. 2160.
The Sou. Pac.
Oo. owns $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.
LATEST
EARNINGS.—
Gross
Jan.
1920.
1 -Feb. 29
' 1919.
Jan.
1 -Dec.
1919.
31
1918.
$3,924,165
$2,385,669 $21,957,495 $21,273,847
Net.
608,131
563,604
5,093,739
6,287,717
In 1918, standard return, $3,230,645; other Income, $367,089; interest,
Ac., chgs., $2,933,588; exps., Ac., prior to 1918, $493,715; bal.sur., $170,431.
.
,.xr*—— gL°Js'
1917..
Net.
Oth. Inc.
Interest.
Miscel.
Surplus.
$19,737,996 $6,881,348 $552,867 $2,812,844 $1,420,531 $3,200,841
12,831.389 2,912,587 810,905
1,776,330 2,359,906 df.412,844
1914-15 11.212,141 1.453,907 884,700 (V. 103, p. 1210; V. 107, p. 603.)
1915-10
V. 108, p. 2122.
QAULEY & EASTERN RY.—V. 106, p. 2228; V. 108, p. 1165.
A GENESEE & WYOMING RR.—Retsof, N. Y., to
Pittsburgh A Lehigh
11 miles; Retsof Jet. to Grlegvllle, 4 m.; branch, 2 m.; total, 16 miles.
Stock, $500,000; par, $100.
Dividends since 1909: Aug. 1910, t\i%\
Nov..lH%: 1911, 5%. paid 1H% Q.-J.; 1912 and 1913,5% (Q.-F.): 1914.
Feb. and May, 1H%1 Aug. 1914 to Aug. 1916,1)4% quar.:Nov. 1916, 2%.
1917, 10%. 2% Q.-F. with a special div. of 2% paid in Aug. 1918: Feb. A
May, 2% quar.; Nov., 4%; 1919, Feb., May and Aug. paid 2)4%.
Year
ended Dec. 31 1918, gross, $427,211; net, after taxes, $237,982; charges,
$129,235; divs. (10%), $50,000; balv sur., $58,747.
For 8 mos. ended
Aug. 31 1919, gross, $296,394; net, $139,191; charges, $75,659; divs. (7 34 %)»
$37,500; bal. sur., $26,033.
Pres., M. B. Fuller, Scranton, Pa.; Sec. A
Treas., W. H. Barnard, 2 Rector St., N. Y.—(V. 76, p. 1248.)
Jot.,
AGEORG1A COAST & PIEDMONT RR.—Extends from Brunswick to
Collins, Ga., 98.4 miles.
V. 98, p. 839.
Receivers appointed in 1916,
Frank D. Aiken and C. H. Leavy, Brunswick, Ga.
In Nov. 1917 $100,000
receiver's certificates were authorized.
V. 105, p. 1208, 2094.
Sold under
foreclosure Oct. 7 1919.
The road has been dismantled.
V. 109, p.
1792, 1891, 2263.
Bondholders* committee:
Henry L. Cohen (Chairman) H. Brunner and
A. Fendig, with Graham Adams, Sec., 61 Broadway, N. Y.
Depositary,
Columbia Trust Co., N. Y. City.
V. 104, p. 2452.
As to 5s of 1912 ($3,500,000 auth. issue), see V. 94, P. 1448, 1763.
Year ending Dec. 311918, gross, $178,860; net def., $21,194; int., taxes, Ac.,
$119,152; bal., def., $140,346. Pres., F. J. Lisman.—(V. 109, p. 1891.)
★ 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 Quincy, 11.23 miles; total, 192.86 miles.
Also operates steamer
from Carabelle to Apnalachlcola. Fla., 32 miles.
Stock, $450,000;
line
f)ar, $100. Compensation rentals, Ac. (est.), $127,000; def. (est.), $65,862.
ncome (est.), $3,500; int., fixed under Government control, $57,638; other
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 Keysville,
Ga., 223.6 m.; Augusta Southern RR. (controlled), Augusta to Tennllle,
Ga., 82)4 m.; trackage, 3.7 m.; branches, 96.5 m.; total, 406.3 miles.
Owns stock of Georgia A Florida Term. Co. of Augusta and Valdosta and
rrantees its 1st 6s.
A consolidation In Aug. 1907.
V. 82, p. 1211; V.
p. 345; V. 87, p. 480, 936. 1533; V. 88, p. 681.
On March 27 1915 re¬
ceivers were appointed; the receivers In June 1918 were W. R. Sullivan of
N. Y., Langbourne M. Williams and J. F. Lewis.
In Oct. 1919 purchased
Augusta Soutnern RR.
revoked by Court order.
Sale of road was ordered in Feb.
V. 110, p. 464.
1920, but
was
Compensation for Govt, operation under additional Federal control,
$88,000 p. a.; Augusta So. Ry., $28,000 additional.
V. 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
$296,000 of the $350,000 preferred stock of the Augusta Southern
V. 104. p. 1045, 1145.
The new issue is a first lien on all the prop¬
erty of the Georgia A Florida Ry. (subject only to $212,000 of Milfen A
Southwestern 1st 5s), and on the securities of the Augusta Southern pur¬
chased from Southern Railway Co.
V. 104, p. 1145.
Protective Committee for 1st M. 5s of 1907; Franklin Q. Brown, 33 Pine
8t., N. Y., and others.
Depositaries, Baltimore Tr. Co., Central Tr. Oo
of N. Y. and Richmond (Va.) Tr. A S. Bk.
V. 102, p. 712.
In July 1919
the Richmond (Va.) Trust Co. was made trustee under 1st M. of 1907.
stock and
RR.
Mat, 1920.j *2?n~
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations, Ac., see notes on first page]
Miles
Date
Par
Amount
Rate
When
Last
Dividend
Road
Bonds
Value
Outstanding
%
Payable
and
Maturity
Georgia Midland Ry—First M gold $1,650,000 lntgu„x
Georgia Pacific—See Southern Ry
Georgia Railroad & Banking Co—Stook
Bonds refunding not mortgage currency
to*
Bonds not mortgage
98
mmm
mmmm
100
1895
36
1896
1,000
1,000
1.000
1,000
1,000
36
1909
100
42
1891
1,000
391
1902
1912
1915
,
rn
12
1888
Ac
367
1869
367
419
1869
1896
37
1886
27
1883
27
1,755
1883
1905
916
1905
839
1905
$ & £
£100 Ac
£100 &c
188
1905
£100
1,000
1,000
1,000
1,000
1,000
500
1914
_
&o
£100
&c
1909
-
mmm
1913
.mm
m
mm mmm
a
* ~
~
'
1914
mmm
mrnmmmmmm
"1917"
1918
an<
BONDS.—Of bonds
M.
bonds
were
of 1907, $5,600,000 are In hands
V. 85, p. 221, 530; V. 95, p. 1472.
of
public and
Holders of 1st
1913;
V. 27. p. 1024, 1504, V. 104, p. 2452.
630, 826. 911. 1118; V. 104 p. 2452.
asked to fund their coupons for 3 years from Nov.
about 82% agreed.
V. 98, p. 155.
Gen. mtge. bonds, see V. 94, p.
Jan- 1 -Mar. 31
^
EARNINGS.—
1920.
1919.
Jan. 1 -Dec. 31
1918.
1919.
Gross
$335,114
$253,552
$998,345
$1,021,743
Net. deficit—_—.
199,626
37,168
388,487
27.618
REPORT.—For year ending Dec. 31 1918, gross, $1,021,743; net def.,
$27,618; other income, $142,065; int. on bonds, $620,115; taxes, rentals,
&c., $211,874; bal., def., $717,542.
In 1917, gross, $904,883; bal.. surp.,
$35,695.—(V. 110, p. 464, 1642.)
★ GEORGIA MIDLAND RY.—Owns road from Columbus to McDonough.
Leased from July 1 1896 for 99 years to the Southern Rail
Co. for $49,500 annual rental (being Interest on the first mtge. bonds
dso.) and $2,500 for Columbus terminal property.
Stook Is $1,000,000
owned by Southern Railway Co.—(V. 63, p. 361;
V. 82, p. 751.)
Ga., 98 miles.
way
★ 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 Loulsv. A Nashv., at $600,000 per year, but In
April
1899 the Loulsv.
&
Nashv.
was
held to have acquired all rights under the
lease; Atlantic Coast Co. 1899 acquired half interest.
majority ($594,900) stock "Ga. RR. Bank."
V. 68, p. 722.
Owns
In Mar. 1920 announced that the 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
as to operation from Alabama.
Equipment trusts issued to Director-General for rolling stock allocated
directed
to this company.
See article on page 3.
Compensation under Federal control for
use of Georgia RR., $858,662.
\ '83-'87. '88. '89 to Jan. '11. Since to Apr. i920.
Regular since 1881 %J10 yrly. 10%
11 yearly.
12% yearly.
Extra (from bank earnings, Jan. 1917, 1 % (none since to
Apr. 1920).
Gross income for the year ended Mar. 31
1919, $1,036,264; divs. (12%),
$504,000; interest, $118,000; bal., sur., $414,264; total, p. & 1., sur., $1,984,959.
For 1917-18 total receipts, $623,796; total expenditures, $622,000:
bal., sur., $1,796—(V. 110, p. 970, 1289.)
DIVIDENDS.—
★ GEORGIA SOUTHERN & FLORIDA R Y.—(See Map of Southern Ry.)—
Macon, Ga., to Palatka, Fla., 285 miles; on Nov. 1 1902 pur¬
chased Atl. V. & 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 Jac'~-onville Term. Co. and 1-3 of stock Macon Term.
Owns from
Owns the stock of the Hawkinsville & Florida Southern Ry., Worth to
Hawkinsviile, Ga., 43 mil***, and Ashburn to Camilla, Ga.. 50 miles, $606,.
000. lstM.5% bonds being guar., p. & I.
V. 79, p. 2585; V.97,p. 175, 365.
DIVID. on
11892.1898.
1899.
1900-05.
1906.1907 to May 1920
lst&2nd pref.(%)\ 2
3
3
4 yearly
4 %
5 yearly
BONDS.—First mtge. of 1895 (Abstract. V. 61, p. 429) provides that the
$684,000 first pref. stock shall be a lien second only to the bonds and coupons.
The First Consol. 4s of 1902 are for the authorized amount of $10,009,000
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.
V. 75, p. 980.
STANDARD RETURN as certified by I.-S. O. Commission, $511,457
Contract not executed.
V. 109. p. 1790.
are
Jan. 1 -Mar. 31
Jan.
1 -Dec.
31
EARNINGS.—
1920.
1919.
1919.
1918.
$1,444,304
$1,145,876
$4,374,501
$3,694,800
Net
200,567
131,154
252,577
445,263
REPORT.—Year ending Dec. 31 1918, in V. 109, p. 1790:
Dec. 31.
Gross
Oper.
Total
Interest,
Pref.
Balance
Years—
Earnings.
Income.
Income.
&c.
Divs.
Surplus.
19l8i_
$3,694,801 $272,913*1522,128 $349,568 $88,400
$84,160
1917
2,983,428
452,359
746,929
388,589
88,400
269,940
1916
2,669,809
581,247
752,794
360,202
88,400
307,192
♦Certified standard return, $511,457: miscellaneous income, $10,671.
Pres., Fairfax Harrison, Richmond, Va.—(V. 107, p. 291, 1287, 1666,
Gross
2289' V
109 p 1790 )
AGEORGIA SOUTHWESTERN & GULF RR. (Albany & Northern
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 p. m.; outstanding Dec. 31 1917, $40,500.
The $4,000,000
mtge. is secured by pledge of $350,000 cap. stock of Albany & Nor, Ry.,
&c.; 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 1918, about $30,000.
For year end. Dec. 31 1918, gross, $150,925; net,
$43,445; other income, $1,963; charges, $39,730; bal., sur., $5,678.
In
1917, gross, $115,955; net, $26,309. Pres. and Gen. Mgr., W. M. Legg,
Albany, Ga.; V.-P., Sec.-Treas., H. J. Bruton, Bainbridge, Ga.; Aud.,
1. C. Johnson, Albany, Ga.—(V. 90, p. 502.)
★ GETTYSBURG &HARRISBURGR V.—Carlisle to Gettysburg, Pa., 31.21
m.; branch to Round Top, Pa., 2.93m.; branch Pine Grove Furnace to Hun¬
ter's Run, 7.46 m. The Reading Co. owns $574,150 of the $600,000 capital
stock; $535,000 deposited under its gen, mtge. of 1896.
Of consol. 5s $215,000 were guar, by Phila. & Reading RR. (foreclosed).
V. 95, p. 1039.
For
cal. year 1918; gross, $394,770; net, aft. tax., $84,675.
In 1917, gross,
$354,040; net aft. taxes, $99,016.
★ GRAND RAPIDS Sc INDIANA RY.—(See Maps of Pennsylvania RR.)—
Owns from Fort Wayne, Ind., to Mackinaw City, 367 m.; new lines, 63 m.;
branches, 110 m.; total owned, 477 miles; operates Cin. Richmond & Ft.
Wayne RR.. 86 m.
On May 1 1917 purchased the property of the Mus¬
&
O
Q—J
J
&
Apr
Dividends are Payable
J
1 1946
6
J Jan
1 1922
J
&
J Jan
&
J Jan
Am
Ex
Am
1 1947
&
Exoh
& Co, N
Nat
Y
Bk, or Aug
do
do
May 13 *20 2% M
May 13 '20 2%
&
Nat
Bk. N Y
T & D Co. Bait; ANY
do
do
&
do
do
July 1 1945
&
do
do
July 1 1952
Sc
Aug '20-Aug '22 Bankers Trust Co, N Y
M&N15 Nov '20-Nov '25 Rlchm'd.Va.Old Dom Tr
J
&
J
&
J Jan
J Jan
A
&
O Oct
1 1946
N Y Sc Baltimore
1 1959
1 1926
Go's
Various
&
office, Albany, Ga
Reading Terminal, Phila
&
&
&
Sc
1928
N Bk Or Co. Goshen, N Y
O Apr 25 1910 1% Offloe Grand Rap, Mich
J July 1 1941
Winslow,Lanier&Co.N Y
J July 1 1941
do
do
O Oct
1 1936
Philadelphia, Pa
J July 1 1926
Winslow,
Winslow,
&
J Jan 1 1933
ids & Ind iana Ry
J
&
J Jan
Lanier
Lanier
&
Sc
Co
Co
1 1962
Bank of Mont, Lon db NY
A
&
O
Apr
1 1955
April
A
&
1 1955
A
do
O Apr
O Apr
J
&
J Jan
were
1 1955
1 1962
4
M
&
A
&
4
J
&
S Perpetual
M
&
N On
&
J
&
J On
J On
Sept '19 not pd when due
N Y Montreal Sc London
do
do
•
demand
J
1
1919 coupons
paid April 15.
London, Montreal fcNY
O Apr. 11919
J July 1 1923
5
Morgan
1 1922
J
4
6
6
P
Apr 15 1920 3% Augusta, Ga
demand
demand
7,500,000
"
$630,000 in treasury.
15,000.000
6,000,000
7,081,783
5.038,053
mmmmmm m m
in tne
land
34,879,252
10,000,000
m
In March 1918 John F. Lewis, Pres. of the Citizens Bank of
Valdosta,
Ga.,
246,500
5.791,700
918,000
3% g
4,455,000
4% K
4 g
5.000,000
5 g
750,000
3 g
250,000
Held by Gr and Rap
68 010.000
3
4
10,206,000
4
9,963.000
7.533,000
4
4
15,940,800
$100
m-m
a...
2559)
p
500
100
•
'
A
Places Where Interest and
RR
818, 497)
$7,500,000 (V 106.
100
mmm.
Dominion Government loan
do
$8,000,000 sec by mtge V 103, p 406
do
$4,500,000 (V 105, p. 1617, 999,
do
100
mmm m
3 g
4,200,000 See text
1,200,000
5
300,000
6
1.000,000
4
2,000,000
684,000 5 in 1919
1.084.000 5 in 1919
4,000.000
a *
2,000,000
4 g
105,000
4Hk
248,000
4% g
400,000
5g
155.500
5 g
565,000
5
1,000
1,000
1,000
1882
1907
mmm
285
$1,650,000
100
mmm
Second pref 5% & partlc non-cum $1,084,000
First mortgage gold $4,000,000
---MeBa.xo*
Georgia South w Sc. Gulf—Albany & Nor 1st M g__c
G S W & Gulf mtge
Ce
Gettysb& Harrisb—Con(nowlat) M $565,000 g(text) _x
Gila Valley Globe & Northern—See Arizona Easte
Goshen & Decker town—1st & 2d M ($60,000 are 2ds)
Gouverneur & Oswegatchie—See NYO&HR RR
Grand Rapids & Indiana Ry—Stook $6,000,000
First M mostly land grant g extended In 1899
zc*
First M extended gold guaranteed by Penn RR_zo*
Second mortgage $5,000,000 gold
xo*
Muskegon Grand Rapids & Ind—First M g
Ce.x
Traverse City RR—First mortgage gold
z
do
do
Income bonds ($190.000)
Grand Trunk Pac—First M £ guar Can Govt (text)o&r
Prairie Section M (Ser A) £2,100,0001 guar p and 1
Mountain Sec M (Ser B) £2,050,000 }•
by Grand
Lake Superior Dlv 1st M £1,550.000)
Trunk
«'
8terling bonds guar by Can Govt $l5,940,800.c»&r»
Deb stk $50,000,000 red aft 1936.
Int gu by G T
Gov't Loan $10,000,000 sec. on Prairie section do
Gov't Loan $15,000,000 cov. by deb. gu by G. T.
$1,000
♦87-'07
mmm
Bonds not mortgage currency (V 87, p 226, 285)-to
Georgia Southern & Florida—Common stook
First pref stock 5% Sc partlc non-cum red
First consol mortgage $10,000,000 gold
N.xo*&r
Equipment trust Ser D due $21 M s-a
Bax
do
do
Ser E due S22M or S23M s-a g-.c
1896
307
z
;
57
kegon Grand Rapids Sc Indiana RR. and Traverse City RR.; trackage, all
liner, 8 miles.
line-,
See V. 106, p. 2644; V. 76, p. 811; V. 82, i
p. 988, 1098.
Successor Aug. 1896 of RR. Co. foreclosed (V. 63, p. 153).
Federal Compensation.—$929,385 yearly during Federal control.
STOCK.—Stock, $5,791,700 out. Penn. Co. on Dec. 311918, $3,212,000.
DIVS.—1900, 1%; 1901, 2%; 1902 to April 1910 3% (yly»: none since.
BONDS.—The first mtge. bonds extended at 4%% are endorsed with the
guaranty of the Penn. RR. Co. to purohase the coupons as they mature, and
the bond itself at maturity.
See guaranty, V. 56, p. 649; V. 69, p. 1193.
Of the 2nds, $888,000 were owned Jan. 1 1919 by Pennsylvania RR. and
$4,375,000 by the Penn. Company, which company guarantees the prin¬
cipal and Interest on $1,038,000 2d M. bonds.
REPORT.—For 1918, V. 108. p. 2523.
Calendar
Grosst
Net, after
Other
Interest, Additions, Balance,
Year—Earnings.
Taxes, &c.
Income. Rents, &c. Bett's.&c.
Surplus.
1918
$7,207,727
$456,583 $168,374
$264,327
$360,630
1917
6,491,358
1,085,398
90,152
922,068
2r3,482
1916
5.897,565
1,201,300
83,323
926,923
$300,000
57,700
Company's statement for 1918, Govt, compensation, $929,385; Income
from Investments, rentals, &c.. $38,932; war taxes, $8,182; int., rentals,
&c., $754,016; bal., sur., $20o,119.
Pres.. J. J. Turner, Pittsburgh. Pa.; Treas.: J. H. B. McKnlght. Pitts¬
burgh, Pa.—(V. 108, i>. 78, 171, 2523.)
GRAND TRUNK PACIFIC RY.—(See Maps.)—This new trans-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
length of about 1,750 miles, from Winnipeg to Prince Rupert, B. O., 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
b. Mountain Division, Rocky Mountains to Pacific Ocean, about—
833
2. Sundry Branch Lines—Built by co. and its subsidiaries
about
992
3. Lake Superior Branch, Built and Oioned by Co.; Leased & Oper. by Qovt.—
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 road in British Columbia were re¬
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. oy Canadian Parliament in 1903.
V. 80,
996; V. 81, p. 1315.
As to Grand Trunk Pacific Branch Lines Co., see
90. n. 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 was 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,
p. 1060, 1274, 2118.
INTEREST PAYMENTS.—The interest due April 1 1919 on Series A
Prairie Section. Secies B Mountain Section, and Lake Superior Branch 4%
bonds was paid April 15.
In Nov. 1919 it was stated authoritatively that
the Oct. 1919 coupons on above issue and on all other issues, payable in
New York, were being promptly met.
V. 108, p. 2022.
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., duo
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.
STOCK.—Authorized, $45,000,000 (par of shares, $100 each), of which
she $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 exceed
113,000 per mile, or £3,210.000 In all; and (6) three-quarters of total cost
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. d. 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 prln. 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 the
Grand Trunk Ry. of Canada, yet an agreement schedule to an 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 company to operate the
Western Division and to collect and distribute net earnings of each particular
division pari passu between the holders of the bonds guar, by the Govt,
and the holders of the bonds guar, by the Grand Trunk Ry. Co. In the proportion 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 the Grand Trunk Ry. Co.
As to $10,000,000 loan of 1909, see V. 88, p. 822, 1194, 1061,1253.
For
$15,000,000 loan o 1913. V. 96. p. 1629, 1772; V. 97, p 175.
Regarding
Qrand Trunk Pacific Branch Lines bonds, see V. 90, p. 1044, 1165; V. 88,
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. 96. 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 V. 98, p. 73.
c*
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Sd
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h5
ui
H
O
o
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55
©
td
o
25
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CO
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T
o
f
-
_.
^UoClty
$S
I
I
'—-/"7
PHiV>0?i^72""»^ES
V
<^ /
:::
V''
I
|
AND
:
CONNECTIONS
Double Track
Lines under Construction
mmmmmmmm
Lines in Operation
Projected Lines
ft
JS
40
lO
o
d
w
p
m
(WESTERN SECTION)
MAP OF THE
AND CONNECTIONS
Double Track
Lines in Operation
Lines under Construction
Projected Lines
CO
Date
Par
Amount
Rate
When
Road
Bonds
Value
Outstanding
%
Payable
first page]
Or and Trunk Pacific—(Concluded)—
Grand Trk Pac Br Lines 1st M gu by Alb text__c*
do
do
1st M gu by Alb £238,000
do
do
guar by Saskatchewan (see text) _
Terminals guar by Sask text
Bridges auth Si ,300,000 guar by Sask
Secured gold notes £2,000,000 guar red 101
c*
Grand Trunk Ry—Consolidated stock
4% guaranteed stooic non-cumulative £12.500,000Flrst preference 5% stock £3.420,000 non-cum
Second preference stock £2,530,000 non-cum
jli.
Third preference 4% stock £7,168,055 non-cum.Debenture stock £4,270,575
_
s:l
oum
£100
1914
1884
i*
£100 "ic
'"""£155
'73-'74
£100
73-'74
£100
£100
3,512
3,512 fl874
(1884
11869
£100
£100
Perpetual consol debenture stook (coll trust)
>.oJ
extended (subject to 1st M In trust).
Var
Great western perpetual debenture stock
c 836 H
Northern Ry third preference A & B bonds
ol 490 M /1868
11884
Debenture stook 4% perpetual £425,850
j
1905
396
Canada Atlantic consol (now 1st) M g gu p A 1
1874
Wellington Grey A Bruce 1st 7s.
See V. 108, p. 170
1918
Three-year secured notes £1,000,000 red 101
c*
1915
Five-year secured notes £2.500.000 red 101
c*
1918
Three-year secured notes (V 107, p 1287)
c*
1901
New England Elev 1st M g gu due *10,000 yearly,.
1900
Montreal Warehousing 1st M *1 000,000 gold guar.
1912
Oar trusts due *197,000 seml-an red 102 )4
-Ba
1912
do
Ser B gold due *168,000 s-a red 102)4 Ba
do
Ser O due s-a *112 M
2d equip M
V
£100
£100 Ac
1909
1914
do
do
$2,430,000
1,159,596
11,315,052
4)4
I,881.792
V105.P 1415
9,720,000
£23.955,437
£12,500,000 See text
£3,420,000
£2,530,000
£7,168,055
5
£4,270,375
4
£24,024,455
I & £
1909
58
£100
100,
£200
Eq x
330
330
do
do
M
&
M
&
* or £
1,000
1,000
4
&
4)4
4)4
M
&
M
&
1.000
1,000
M
&
1,875,000
F
&
1754, 1800, 2117, 2235- V. 105, p. 1415.
revs
REPORTED
Leased—partly owned.
land,Me.,to Island Pond, VtBuffalo & Lake Huron
Other
lines
Total In earnings
Car ferry, Grand Haven to
,
531
347
101
164 Detroit Grand Haven & Mil*
54 Tol. Sag. & Muskegon.:
Jointly owned.
211
191
4,008
Total
Milwaukee.
96
79
& Toledo Shore Line..
road
do
do
D Dec *20-Dec '22
Bank Montreal.NY&Lon
J July 1 1950
do
do
8 Sept 1 1962
V. 82, p. 452.
Montreal Warehousing guaranteed
Grand Trunk Pacific Devel. Co., V. 90, p. 300; V. 91.
93, p. 1107.
,
of
for rolling stock allocated
In May lmv paid
annual 5% on 2d pref.
1708, 1522.
stock and 2)4 % on first pref., and an
1,382,200
1,518,500
1,496,700
276,500
336,800
199,600
charges
£1,722,600
£1,100
£1,800
£26,300
OFFICERS.—Pres., Howard G. Kelley; Chairman of Board, Sir Alfred
W. Smithers.—(V. 110, p. 079, 1187.)
surplus
GRAND TRUNK WESTERN RY.—See page 136.
165 Pontiac Oxford A Northern...
Detroit
New York
1917.
£10,725,500
Balance,
Entire stock owned.
Atlantic & St. Lawrenoe, Port-
Olnoln. Sag. & Mackinaw
Miles
UnSD&TrOo, Portl'd.Me
N Nov '20-Nov '23
A Aug 20-Aug *27
Government control
SEPARATELY.
Majority stock owned.
on guar,
Revenue
RY. OF CANADA.—(.See Maps.)—Quebec. Can..
Buffalo, Detroit,Toledo. &c.
Central Vermont*
Grand Trunk Western*
London
J July 1920-1941
Blair & Co..
O Apr 1 1936
do
N Nov '20-May'22
do
N Nov '20-Nov '22
Estimated deficit account lines under
Montreal to Chicago, 111., also to Portland,
3.472
&
&
& London
London, England
REPORT.—Report for calendar year 1919:
Calendar Years.
1919.
1918.
Gross receipts
£14,125,500 £12,655,200
Net revenue
£1,659,800
£1,857,100
808,751
Miles.
M
London
.
$1,070,904 loss $50,534 loss$342,015
Aug. 1918, see Y. 107, p. 696.
OFFICERS.—Pres., Howard G. Kelley. Montreal. Can.; Sec., Henry
Philips; Treas., Frank Scott.—(V. 110, p. 261, 561.)
PROPER.
J
: dont, N Y
SeeV.110,p.77.
15 Jan 14 1921
J July 1 1920
O Oct 1 1921
1747, 1384; V. 106, p. 1230; V. 105, p.
2%
Status in
SYSTEM
J
4 g
1449; V. 92, p. 1238; V.
p.
Balance
Lines owned
A
6g
London
DIVIDENDS.—Total percentage paid from earnings of each year since
1903 being the October and following April declarations combined:
17-'19.
15.
f'05. '00. '07. '08. '09. '10. '11. '12. '13. '14. *1R '1ft *
See
4
4
4
4
stock. % I
Guar, stock -%f 4
4
4
4
4
4
4
4
text.
0
5
5
5
5
5
0
5
5
6
f
1st pref.
%\ 5
0
5
5
5
5
5
0
5
t
2)4 5
5
2d pref.
%
0
0
0
0
3
H
1)4 2)4 2)4 0
i
2
3d pref.
%
V.107.
Nov 1917 to N ov. 1919 none on 4% guaranteed or pref. stocks,
$538,760
-
GRAND TRUNK
do
Irredeemable
1 1955
Equipment trusts issued to Director-General
to this company.
See article on page 3.
$906,934;
the operating loss on 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, owing to the insufficiency of the increased rates,
showing a deficiency, instead or a surplus, in net results.
For years ended June 1910.—
Or. Tr. Pac. O.T.P.Br.L. Transcon.Ry.
Operating revenues
$6,963,189 $1,319,599 $5,798,510
Net Income after oper. expenses
1,070,904 loss 50,534
466,135
Charges other than funded debt
do
Glyn, Mills, Currle A Co
Compare V. 108, p. 917; V. 107, p. 1384, 1287.
As to the receivership
Grand Trunk Pacific Ry., see that co. above and V. 108, p. 2118.
..$6,651,298 $1,593,0191 Deductions,
loss 250,8781oss225,6l3|
incl. int., &c$7,991,760 $1,222,523
Non-oper. inc. 2,535,064
909,3761 Net deficit _.$5,707,581
Note.—Deductions from gross income G. T. P. Ry. include
&
4 g
bonds.
do
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.
EARNINGS.—For year ended June 30 1917 (compare V. 109, p. 172):
O.T.P.Ry. O.T.P.Br.L. |
Q.T.P.Ry. O.T.P.Br.L.
Oper.
784.000
&
Office
do
Jan
A
Co's
do
J July 1 1921
Irredeemable
Irredeemable
8c
| A
from
do
paid.,
1914 2)4
14 Irredeemable
Irredeemable
&
A
FINANCIAL STATEMENT. AC.—A full financial statement as of
1916 was given in Y. 102, p. 1982.
Reports of members of the
Net
&
J
Feb. 29
Royal Commission. V. 104, p.
&
A
Station Co.
Cheok
Q—J
&
do
do
1917
to May 1920
Nov
Apr
& J
J
J
bonds. V. 83, p. 37.
N
N
none
3H
p.
18 1943
2 Mar 2 1921
M <fc S
6 g
In April 1919 the Canadian Govt., by way of loans, &c., had put $145,000,000 into Grand Trunk Pacific
V. 105, p. 1415; V. 100, p. 2559.
15
Dec
5)4
1912
do
do
220,000
1,000.000
1,788,000
940.000
90,000
15,000,000
II.541,000
by guarantor
1943
£2,500,000
£3,000,000
& £
paid
do
M
J & J
*
1919
do
£100 Ac
1912
1900
1939
1942
Feb
6 g
1917
Ser D due *125,000 s-a
Feb 25
Payable
are
Jan. 22 1939
£1.000.000
1913
call 102)4_.Eq.c
Whipple Oar Co 1st r. e. & coll. tr M g due *30,000
yearly red 102 (V. 97. p. 1003)..
—c*
Qrand Trunk West—1st M !nt gu * (cur) & £ ..Fx
Gen consol M auth *30,000,000 guar p & 1
Usmi
102)4-
Dividends
M
...
red
Places Where Interest end
M
£100"&c
£100
&c
1,000
[Vol. 110.
and Maturity
M
J
6
£372,900
5
£2,723,080
0
£14,500
4
£308.215
4 g
10.000,092
£55,900 var, say4
£100
Dividend
Last
Miles
RAILROAD COMPANIES
IFor abbreviations. Ac., see notes on
do
^Control.
RAILWAY STOCKS AND BONDS
^Contract.6
60
5,300
Co.
'See separate statement this
HISTORY.—See V. 106, p. 395.
★ GREAT NORTHERN RY.—(See
Maps.)—Operates a line from St.
Paul and Duluth, Minn., via Spokane, Wash., to Seattle, Wash., and Van¬
couver. B. O.. with trackage rights into Portland, Ore., and numerous
branches In Minnesota, Iowa. North and South Dakota, Montana. Idaho,
Washington, Manitoba and British Columbia.
Total miles of road in sys¬
tem Dec. 31 1918, 8,273, less 6 miles leased to other companies, line aban¬
doned 8 miles, leaving 8,259 miles in system as operated, viz.:
Controlled Companies—
Miles.
Lines owned in fee—
Miles.
270
St. Paul to St. Vincent, Minn__
393 Vancouv., Vic. & East. Ry.&N.
438
Minneapolis to Seattle, Wash.- 1,832 Other lines
Trackage—
Everett, Wash., to Int. Boundary
92
Seattle to Vancouver, Wash...
173
Other lines owned in fee to Su¬
r
260
perior, Butte. Sioux City, &C.4.814 Various other lines
Total road owned
7,131 Second, &c.f tracks & sidings J. 2,815
New terminal companies 1917, V. 104, p. 560; V. 106, p. 174.
Owns Jointly with Northern Pacific the Spokane Portland A Seattle Ry.,
556 miles.
V. 85. p. 1273; V. 86, p. 1529.
In Dec. 1908 Chic. Burl. & Quincy (jointly held with Nor. Pac.) acquired
control of Colo. & Southern.
V. 87, p. 1604.
Uses Jointly Northern
Pacific line, Seattle to Vancouver, Wash., 174 miles.
V. 88, p.1372.
Controls Midland Ry. of Manitoba jointly with Nor. Pac. Ry. V.95,p.236.
_
NATIONALIZATION.—The Governor-General of Canada on Nov. 10
signed a bill looking to the acquisition by the Government of the
entire capital stock of the company, except the £12,500,000 4% Guaran¬
teed stock.
A board of four arbitrators (W. N. Tilley, K.C., Toronto;
H. A. Lovatt, K.O., Hector Mclnnes, K.C., Halifax; and Pierce Butler)
was appointed in Feb. 1920 to determine what shall be paid for the stock.
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
1919
present 4% guaranteed and also the new guaranteed stock will be made
subject to call at par and dividends.
A committee of management, consisting of five persons, is to be formed
to insure the operation of the road as far as possible in harmony with the
Canadian National lines, 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 be necessary for the carrying on of the railway.
Upon the transfer to
the Government of the preference and common stock, the Government
may 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¬
ernment aid as to rolling stock, V. 107, p. 82.
STOOK—NOTES.—Perpetual consol. 4% deb. stock
total Issue of $180,708,378, from time to time
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 wasset 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 $12,500,000
5)4% 5-year notes of 1915 are secured by deposit
£3,600,000 perpetual 4% consol. debenture stock; red. on any int. date
as a whole or in amounts of not less than £200.000 by drawings, a propor¬
tionate part of collateral to be released.
V. 100, p. 1917, 2085.
The £1.000,000 6% 3-year notes Issued In Jan. 1918 to meet £1,000,000
5)4% 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;
DEBENTURE
Included in August 1916 a
authorized by Acts of the
V. 97, p. 298, 52.
Canada Atlantic Ry. was merged Jan. 11914; V. 100, p. 1432; Its 50-yr.
of 1905 (Royal Trust Co., Montreal, trustee), carry guar., prin. A Int.,
Grand Trunk.
V. 79. p. 1641. 24; V. 80. p. 2343 - V. 87. p. 1477.
4s
of
.
ORGANIZATION.—In 1907-08 absorbed St. Paul Minn. A
794; V. 106, p. 1577. \
.
V. 85. p. 600, 1209; V. 86, p. 168,
Great Northern Equipment Co.
DIVIDENDS.cent
Also In 1898 50%
at 80 In payment or
^
V.83, p.1469; V.84,p.749.
V92 to '96 (incl.) '97. '98. '99. '00. 1901 to May *20.
J
5% yearly
5)4 6X
7
7
7% yearly, Q-F
in Seattle A Mont, stock, which was then exchanged
STOCK.—"Single class, with uniform
Per
Man., &c.,
capital stock, $12,000,000, V. 108, p. 378.
rights."
40% of subscription to
additional Gt. Nor. pref. V. 66,
1044. 1188; V. 74. p. 829.
In May 1901. )4% and in Nov. 1907 1)4%
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 Ret." 50-year bonds ($600,000,000 auth.), $78,879,000) had been issued as 4X % bonds to Dec. 31 1918, of which $35,668,000 sold and $18,211,000 held in treasury and pension fund and *25,000,000
deposited as security under 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
costlng$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.
p.
was
Provisions
Respecting $600,000,000 First & Ret. Mtge.
$§5,000,000;
$10,000,000.$45,000,000
Sold for pres. purposes,
held in treas.,
Reserved to retire existing obligations, including the
*222,400,-
Paolflo-Great Northern Joint 4s,
due 1921, of which $7,173,000 have not yet been issued
332,062,000
Reserve for general corporate purposes, acquisition of new
lines, &c., and purchase of stocks and bonds of other cos
122,938,000
Reserved for the acquisition and construction of new lines, ter¬
minals. &o.. at not exceeding *3.000,000 In any oal. year—100.000.000
The]$43,211,000 of above issue owned by the company includes: $21,211,000 Issued for acquisition of stocks of other cos., $12,000,000 for acquis'n A
construction of new lines, &c., and $10,000,000 of original $45,000,000.
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 lien on
2.47 m. of double track formerly Minneapolis Union Ry. V. 91, p. 518; V.64.
p. 518 ;V. 86. d. 229; V. 87. d. 1533: V. 88. d. 295. 624. 1061. 1372,
Montana Extension mtge. la limited to $21,687,000 on 837 miles In State
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 par mile In Montana and
£7,000 per 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.
000 auth. Issue of Northern
*g"g2Trt
mat, 1920.]
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations, Ac.,
tee notes on
Miles
Great Northern—Stock $250,000,000
Qt Nor 1st A Ref M g red 105 beg r41-_Ba.xo*Ar*
Collateral trust gold notes call (see text)
Bayyc
Old Underlying Divisional Bonds—
St P M A M oonsol mtgel (now 1st M) gold
Cexl
tor $50.000.000
)(V 91 p 518) sink
Date
Par
Amount
Rate
When
Last Dividend
Road
first page}
Bonds
Value
Outstanding
%
Payable
and Maturity
2,542
2,542
2,542
1883
1883
420
Montana Ext 1st M ($25,000 p m) gold
Ce.zo* &r
Pacific Extension M £6,000.000 gold
Ce.zo* &r
O B & Q col tr M g red at 105 H share
Gxc*Ar*
do
do
do
registered
zr*
1,000
1,000
1,000
13,344,000
20,987,000
8,086,000
1.000 ylO,185,000
£100 &o z£5,854,100
$1,000&o 1107613600
1,000 Ac
1,000
2,150,000
1,000
650,000
1,060 &o d9,695,000
1,000 Ac 10,000,000
1,000
3,625,000
1,000
229,000
1883
ass'd Ba.zc*Ar
284
Mont Cent 1st M g ($6,000,000 are 6s) ass
Ce.zo&r
Wlllmar A Sioux Falls 1st M g assum (end)Ce.zo* Ar
250
304
1887
1890
1901
1901
1882
1882
1898
1887
1888
Spokane Falls A North first mtge g assum ..Ba.xo*
Qt North Ry of Can—See Canadian North Quebeo Ry
Green Bay & Western RR—Stock (see text)
130
1889
Minn Un Ry 1st mtge gold assumed
do
do
do
E of M No Dlv M call 105 beg 1928
849
2
2
Ce.zo*
Debentures Class A incomes text non-cum
_zo*
Class B incomes after 5% on stook non-cum.zo*
Refunding mortgage $6,000,000
as of June 30 1918 (Series 1, 3 & 4)
100
1,000
1,000
1896
1896
Greene RR (New York)—Stock,guar
....
Greenville & Western RR—1st M $460,000
Greenwich & Johnsonville—1st M $500,000 g.G.zo&r
Groveton Lufkin & Northern Ry—1st M gold
Guantanamo & Western—1st M $600,000 gold-Col .x
1914
1904
1909
Col
1,000
1909
21
i",6oo
1918
Car trusts
Yar.
Gulf Line—See Hawkinsrille & Florida Southern Ry
Gulf Mobile & Nor RR—Common stock (vot tr ctfs)
Pref (p A d) (v t ctfe) 6% cum
Mobile Jackson 4K C 1st M
100
100
from Jan 1 1920
Ce
New mortgage $15,000,000 authorized
Gulf
Pensacola Sc. Northern RR—see text
307
gold sink fund- N,xo*x&r •
call at 105 ($50,000 due yly)
y
Add'l amts. pledged, viz.: x $25,000,000 under
1902
1916
g
collat"
ISSUE.—On
&
4g
&
i*
}g
4 g
A
&
Q—J
&
2e
5*
A
A
A
notes;
1917 sold
1
Sept.
$20,000,000
Collateral
do
do
N Y& Lond, Baring Bros
J P Morgan A Co, N Y
11940
11921
11921
11922
11922
1 1948z
1 1937
do
£
do
do
do
Feb 241920 5% Offloe 40 Wall St? N Y
do
do
Feb 241920 5%
do
do
D June 1920 3% D L A W, 90 West St
J July 1 1934
J Jan 1 1924
Guaranty Trust Co, N Y
A
J
do
do
Feb 24 *20 H%
A
J
b
do
32 NassauNYjLee.H.Boi
32 Nassau St, New York
J July 11939
J
5 g
do
32 Nassau St, New York
D June 11938
Feb
Feb
Feb
5
5
do
do
do
A
A
J
A
J Jan 1 1939
M AN15 Nov 15 1929
.
Columbia" Trust
r
Co 7 N Y
Various
Sg
J
U S Mtg &
D June 11946
&
7,000,000 1917 4%
Q-J
J
A
5.000,000
§*
6 g
M&N
200,000
$11, 502,000 und er Pacific Exten.
In 1917 4
Feb 119
May 1921 to *24
Mtge.; of z £14
Tr Co, N Y
Gulfport. Miss
Metropolitan Tr Co, N Y
Bankers Tr Oo. Buffalo
5,900 under 1st & Ref. M.
★ GREENWICH & JOHNSONVILLE RY.—Owns from Schuylerville. N. Y.
so Johnsonville, N.Y..21.15m. Stock, $225,000, all owned by Del. A Hud¬
Oo.
V. 90, p. 790.
Bonds, see table above.
For year ending Dec. 31
1918, Government compensation (est.), $49,685; other income, $1,826;
charges, $30,644; div., $13,500; bal., Bur., $7,367.
For year 1917, Ry.
oper. rev., $152,886; gross income, $70,149; charges, $48,326; divs., $13,500;
bal., sur., $8,323.
Pres., I. G. Blandy, Greenwich, N. Y.—(V. 107, p. 802.)
son
Trust
Three-Year 5% gold notes, dated Sept. 1 1917, due Sept. 1 1920, but re
deemable at any time before Sept. 1 1918 at 101 and int., and at any time
thereafter before maturity at 100 H and int.
Secured by $25,000,000
First & Ref. Mtge. 4>*% bonds, due 1961,
V. 105. p. 606, 715.
GENERAL FINANCES.—Total funded debt in hands of
do
A
1.000
Of y
do
do
do
D June 11937
July
July
July
July
July
Apr
July
do
do
do
J July 11933
i
1,000 Ac
On Dec. 311918 Gt. Nor. and Nor. Pae. owned $107,613,500 of the
$110,839,100 Chicago Burl. A Qulncy RR. stook, exohanged for their
Joint 20-year 4% gold bonds (seoured by deposit of the stook In trust),
on basis of $200 In bonds for each $100 stock.
See circular, V. 72, p. 871,
1034, 1135. and application to list, V. 73, p. 294, 903; V. 85, p. 600.
Eastern Ry. of Minnesota.—Nor. Dlv, mtge. of 1898 limited to $9,700,000,
are red. at 105 after April 1 1928.
V. 66. p. 471; V. 88. p. 1002, 1253.
NOTE
Dividends axe Payable
32 Nassau St, New York
J July 11933
J July 11933
100
First Refund and Term M
x y z
&
i*
See text
...
&
4Kg
10.972.590
11,494,400
27.000
1896
Gulf & Ship Island—-Stock
Serial debentures
8 g
2,500,000
600,000
7,000.000
200,000
460,000
400,000
437,000
600,000
See text
293,000
100
23
21
Places Where Interest and
$100 249,478,250 7 In 1919
Q—F
May 1 1920
1,000 &o x35,668.000
A
J July 1 1961
4«g J
M A
S Sept 1 1920
1,000 Ac $20,000,000
5 g
1911
1917
7.480
fund_z|
61
tt
public Dec. 31
1918, $1632051,515.
Per mile of road (7,840.70 m.), bonds, $20,795; stock,
$31,818.
Train load, year ended Dec. 31 1918, 684 tons.
Federal
Compensation.—$28,771,360 yearly during Federal control (con¬
V. 108, p. 784. 2329.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
A GROVETON LUFKIN & NORTHERN RY.—Owns Veitch to Vair.
Tex., 21.15 miles; trackage, Groveton to Veitch, 1.25 m., and Valr to
Lufkin, Tex., 13.6 m.; total, 36 miles.
Stock, $50,000; par, $100.
Bonds
t437,000; see table above (V. 90, $33,647; bal., cal. year 1917, Pres., $84,For sur., $4,999. gross, J. 8.
93; total net, $38,646; charges, p. 100).
Office, Groveton, Tex.—(V. 90, p. 109.)
Joyce, Chicago.
GUAYAQUIL & QUITO RY.—V. 106, p. 1900; V. 109, p. 1179; V.
110, p. 167.
v I
.
tract executed).
Jan. 1 to Mar. 31
Net
—
—
Jan. 1 to Dec. 31
1920.
EARNINGS.—
Gross
1919.
1919.
— -
REPORT.—For year 1918, see V. 109, p. 169.
Calendar
Freight
earnings
—
J
_—-
MailTexpress,
Ac
—
Other than transportation-
-
Gross operating revenues
Net earnings
1917.
Gross
Rentals
-
corporate income—
paid..
8,260
8,233
8,053
$15,672,420 $15,836,341 $13,661,645
76,937,445
64,300,666
60,177,249
5,707,159
6,342,061
5,993,718
2,381,496
2,119,666
1,429,866
$100,698,520 $88,598,734 $81,262,478
$8,887,779 $29,316,579 $37,348,402
28,686,973
xl,071,526
8,031,140
2,845,628
1,514,363
6,302,952
5,132,208
Federal compensation
Add miscellaneous income
Deduct railway taxes
Year end.
June 30 '16.
Years
1918.
Average miles operated
Passenger
1918.
$25,117,871 $22,496,1868106,533,7388100,661,066
1,826,838
2,371,862
19,805,702
16,271,497
$28,244,136 $31,044,767 $35,061,822
$12,583
732,785
7,435,498
annum). 17,462,842
$1,082,933
149,021
6,772,641
17,462,959
640,583
5,385,635
Hire of equipment balance, Ac
Bond interest accrued
Dividends on stock (7% per
Renewal AUouez Bay ore docks
Miscellaneous appropriations
Improvement and renewal fund
Pension
3,500,000
fund
Balance,
$888,892
129,048
6,443,267
17,456,390
256,332
3,100,865
60,475
surplus
——
1,000,000
$131,103
$1,959,844
$2,287,027
OFFICERS.—Chairman, Louis W. Hill; Pres., Ralph Budd; V.-Pres. &
Asst. Sec., E. T. Nichols, New York; V.-Pres. & Compt., G. R. Martin;
V.-Pres. & Gen. Counsel, E. C. Lindley; V.-Pres.. W. P. Kenney, C. O;
Jenks; Sec. A Treas., F. L. Pretzold; Comp., G. H. Hess, Jr.
N. Y. office,
32 Nassau St,
DIRECTORS.—L.
W.
Hill, R. Budd, E. O. Lindley,
haether, W. B. Dean, St. Paul; A. L.
F. E.
Weyer-
Ordean, A. D.
Thomson, Duluth;
Howe, Minneapolis; E. T. Nichols, Seward Prosser. A. Barton
Hepburn, J. E. Reynolds, N. Y.—(V. 110, p. 764, 970. 1415.)
P.
L.
A GREAT SOUTHERN
RR.—See Feb. 1918 issue.
★ GREEN BAY & WESTERN RR —Owns Green Bay, Wis., to East
Winona, 213 miles; branches, Ac., 38 m.; trackage Ch. & N. W., 23 miles.
Compensation under Federal control fixed at $331,955.
V. 108, p.
1721; V. 109, p. 369.
■
PENSACOLA & NORTHERN RR—Pensacola, Fla., to a
connection with the So. Ry. at Kimbrough, Ala., 143 m.; Gateswood Jet.
to Owen, 15 m.; sidings, 10 m.; Goulding branch, 2X m.; total, 170}$ m.
Authorized stock, $2,500,000.
A GULF
BONDS.—$2,500,000 1st Mtge. 6s, due 1940 (int. J. & J.); $1,200,000
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
company has been organized and Mr. Jas. H. Fraser Is President
reorganization planned by its Receiver, Mr. John T. Steele, who
a syndicate formed by him purchased $1,000,000 receivers' certifs.
w hicb consists of all that had been authorized.
These receivers' certificates
are canceled under the reorganization and the road becomes the property
of the former bondholders of the Gulf
Florida A Alabama Ry. Co.
All of the above mortgages and securities are authorized ana ready to be
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.)
new
under
a
through
★ GULF MOBILE & NORTHERN RR.—Operates 466 (Sept. 1919) miles
viz., Mobile, Ala., to Jackson, Tenn., 409 m.
(main line); Beaumont to
Hattiesburg. Miss., 27 m.; Ellisville Jet. to Ellisvllle, Miss., 6 m.; McLain
to Piave, Miss., 24.5 m. (Blodgett Branch).
—'
Jackson Extension from Middleton to Jackson, Tenn., 4Q miles was com¬
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
.
ing from Union, Miss., to Meridian, Miss., 33 miles, giving
an entrance into Meridian.
V. 109, p. 2363,
GOVERNMENT CONTROL.—W. F. Owen, Gen. Mgr., Mobile, Ala
are
no
ORGAN.—Successor Jan. 11917 of New Orleans
Interest, if earned, then common stook to 2 H %, then the two share ratably,
but after 5% on both, class B Is entitled to all surplus earns.
V. 61. p. 471.
executed).
LATE DIVS. *08. '09. '10. '11. '12. *13. *14. '15.
5
5
5
5
5
5«
5
5
Class "A" debs-
5
Class "B" debs- X
5
H
5
Vi
5
X
5
X
5
IX
5
X
5
H
'16.
*17. '18. 'lB-^O
5
5
5
5
5
5
5
5
l-H
X
H
REPORT for year ending Dec. 31 1918 In V. 109, p. 369.
Cal.
Net
Bal, after
Div. on
Dividend
Die. on
Year.
Earns. Taxes,Ac. Deb. "A."
on Stock.
Deb. "B."
1919
a$204,878 $173,758 (5)$30,000 (5)$125,000(H%)$8,750
^
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.
There is no mortgage debt except $27,000 old Mobile Jackson A K. 0,5s.
1920.
EARNINGS.—
$886,414
def.18,162
EARNINGS.—For year 1918 in V.
Federal and corporate accounts show:
Accrued compensation.
★ GREENE RR.—Owns road from Chenango Forks to Greene, N. Y„ 8
Leased to Delaware Lackawanna A
Stock, $200,000;
par,
Western for term of charter
1917
1918._
$2,418,292
A GREENVILLE & WESTERN RR.—See page 138.
109,
19,955
OFFICERS.—John W.
Platten,
2353.
p.
263,484
For 1918, combined
Other
All
Balance,
Charges.
Surplus,
$40,155 (net)— def$90,115
101,878
27,080
122,861
186,538
6,629
77$,011
Income\
Chairman; I. B. Tigrett, President,
N. Y.; E. D. Hogan, V.-Pres., Mobile, Ala.; F.
Ala.; R. F. Brown, Sec. A Asst. Treas., N.
mil F & SHIP ISLAND
3o"
m»;
of
MMl"o!
to
M. Hicks, Compt., Mobile,
Y.; J. J. McEwen, Treas.
Mississippi Sound,
Maile to MendenhaU. 104.7i
miles; total, 307 miles*
RR.—Owns from Gulfport. on
Jao™»on?Ml88., 160.50 m.j.
Saratoga to Laurel, 41.75
Federal Contract.—The
company's contract with the Government, signed
compensation at $595,882.
1919, fixes the annual
DIVIDENDS.—1903 to 1910,
4% yrly; '11, 4%; '13-'13, 3%; *17, 4%.
i
BONDS.—Of the first 5s outstanding in Dec. 1917, $986,000
In sinking fund.
See V. 74, p. 426, and application to list.
V.
V. 81, p. 264.
$100.
GREENVILLE & NORTHERN RY.—See page 138.
1919
1918
in Dec.
Cox., Sec. & Treas., 40 Wall St., G. Ledyard Blair, J. A. Jordan. Henry
Taylor, W. J. Wilson.—(V. 110, p. 561, 1972.)
for 6% on stock.
1 -Dec. 31——
1919.
$2,823,506
Gross
Net, after
Earnings.
Taxes.
$2,823,506df$130,270
2,418.292
48,063
2,322,649
592,102
December 31
Bal.,
Sum.
DIRECTORS.—J. A. Jordan, Pres.; Edgar Palmer, V.-Pres.; Charles W,
miles.
Jan.
1919.,
$573,642
def.42,311
Jan. 1-Mar. 31
LATEST
Gross
—(V. 110, p. 1187, 1289.)
$10,008
1918—-a$204,878 $208,556 (5)$30,000 (5)$125,000(H%)$8,750 $44,806
1917202,633
172,140
(5)30,000
(5)125,000 \X%)8,750
8,390
a
268.
foreclosed.
V. 100, p. 1078; V. 103, 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,
Year—
Compensation.—$331,955 yearly during Federal control (contract
Capital stock..
p.
Mobile A Chicago RR.
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 stook.
Class A debentures are entitled to 2H%
Federal
V. 108,
Government contract not executed as yet.
Net
SECURITIES.—There
-
„
By., extend¬
the company
Jan, 1 —Mar. 31—
EARNINGS.—
Gross--—
Net-
1920.
$692,000
7,693
1919.
$539,211
def.13,965
Jan,
bonds were,
74, p. 1257,
1 ~Dec. 31
1919.
$2,496,260
31,551
1918.
$2,548,059
514.927
26
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Stoughton
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iarfleld
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Mott
Miles
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City
N
Mannarih]
Forsyth
^y^TBigborn
Stites
Walla Walla
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—
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y-°Daytou
a
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Y?
o-
Bioadus
V Ionia
Heppuer
Coud
New Meadows
x
Salmon'
Lakeport
Clearmont
Spearfiih
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Midvale
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^vEnglei
X Hill
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Weiser
a
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'hermopolia
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MAP
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'Big Piney
THE
i
Wendorerl
-Rupert
N
.Oakley
GREAT NORTHERN RAILWAY
5>.
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R
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E
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City©
SECTION)
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Thayer Jo.
A
B.
Ashty
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Mountain
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* Gontractf
04
RAILWAY STOCKS AND BONDS
^Control.
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rate
When
[For abbreviations, Ac., see notes on first page]
Road
Bonds
Value
Outstanding
%
Payable
Oulf Term, Mobile-—1st M $700,000 ggu (text) xo*Ar*
Gulf Texas & West—1st M$10,000.0(X)g red 105-Mpx
99
Hampden RR—First mortgage see text
Hancock & Calumet—See Mineral Range RR
Hannibal & St Joseph—See Chicago Burlington A Qui ncy
Harriman & Northeastern—First mortgage gold.-Cez
20
Car trusts due semi-annually
1907
1909
1895
$600,000
100
4 g
2,000.000
See text
5 g
300,000
78,000
$1,000
1.000
6 g
5
Dividend
Places Where Interest and
and Maturity
Dividends are
Payable
11957
Franklin Trust Co. N
1 1939
J
A
J Jan
MAN Nov
II
Ac
1914
Last
[Vol. 110.
Metropolitan Tr Co. N Y
Y
30 years
J
J Jan 1 1921
D To June 1924
A
J
A
Central Union Trust N Y
Union S B A Tr Go, Olno
Harrlsburg Ports Mt J & Lane—See Penna Ry.
Hartford & Connecticut Western—Stoca
First mortgage extended In gold In 1903
do
do
100
124
z
Hawkinsv & F1 So1—1st M Series A gold guar p&l.z
IstM Se B (equally sec.with A) g guar p A 1
x
Haytian Am Corn—Prefstock 7% s fd calf 110 conv>
Serial
notes
$3,000,000 due
$1,000,000
yearly
call 102 y%
xxxc*G
Henderson Bridge Co—See Louisville A Nashville RR
Hibernia Mine RR—Stock
Hocking Valley Ry—Stock
Columbus & Hocking Valley first mtge gold ext.xo*
Col A Tol 1st M gold ext 1905 (V81 p 211)-_(l.xo*
First Consolidated mortgage $20,000,000 gold-.Cex
General Mortgage $50,000,000
EQ
Gold notes call 101 after Mar 11921
EQzxxxc*
Equip notes goldSer of 1913 due $100,000 ann——x
124
95
1883
1902
95
1913
1,000
1,000
1,000
100
1919
1.000
3,000,000
100
100
200,000
11,000.000
1,401,000
4J*
119
121
346
Hous E A W Texas—1st M gu p & I by So Pao.Un.zo*
First mtge $3,000,000 gold not guaranteed
z
500
1913
1914
24
"20
191/
1892
1907
1907
1893
1893
& WESTERN RY.—Seymour to Salesville, Tex., 99
miles.
Has trackage agreement for freight trains to Weatherford, 31 m„
and for passenger trains to Mineral Wells, 9 m., giving entrance via Weath,
Mineral Weils A N. W. and Texas A Pacific to Dallas and Fort Worth.
Compensation fixed under Government control, $29,735.
Stock auth., $500,000; outst'g June 1917 $250,000; par of shares, $100
Of the first 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.
Loans and bills payable Dec. 31 1917, $568,329; car trusts, none.
For cal.
year 1917 (130 av. m.), gross, $160,894; oper. def., $32,584; other income,
$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. 108, p. 378.)
RR. CORPORATION.—See page 138.
★ HARRIMAN A NORTHEASTERN RR.—Harriman to Petros, Tenn.; 20
In Nov. 1902 entire ($600,000) stock acquired in Interest of CIno
New Orleans A Tex. Pac. Ry., but is operated separately.
V. 76. p. 157.
DIVIDENDS.—In 1907,4%; 1908. 2H%; 1909. 2%; 1910 to 1914, Incl.,
none; 1915, 3%; 1916, 3%.
For 6 mos. to Dec. 31 1917, gross, $71,030;
net, $15,226; other income, $8,705; int., rentals. Ac., $11,568; bal., sur.,
i 2,363.—(V. 76, p. 212.)
miles.
★ HARTFORD & CONNECTICUT WESTERN RY.—Hartford. Conn., to
Rhlneollfl, N. Y., 110 miles, and branch, 14 miles.
Leased till Aug. 1940
i
Central New England Ry. (now controlled by New York New Haven &
Hartford RR.), the rental paying charges and 2% on stock.—(V.83,p.1290.)
A HAWAII CONSOLIDATED RY., LTD.—Owns Paauilio to Puna,
T. 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¬
(a) $2,500,000 1st M. 5s; (5) $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 1918, gross, $457,795; net, $89,244;
interest, $117,899; taxes, rents, Ac., $25,176; bal., deficit, $53,831.
Pres.,
J. R. Gait, Honolulu, T. H.—(V. 103, p. 2426.)
lows:
★ HAWKINSVILLE & FLORIDA SOUTHERN RY.—Worth to Hawkinsvllle, 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), prln. A int.
V. 97, p. 175. 365.
For
year
ending June 30 1916, gross, $123,967: net. $14,372; other income,
$4,799; int., taxes, &c., $53,206; bal,, def., $34,035.
Federal compensa¬
tion, $504,800.
Pres., Fairfax Harrison; Treas., F. S. Wynn, N. Y.—(V.
110, p. 561.)
HAYTIAN AMERICAN CORPORATION.—ORGANIZATION.—In-
corp.inN. Y.
on Jan. 8 1917 with a view to developing the resources of
the Island of Hayti and acquired (per plan In V. 103.
p. 145. 318: V. 104
p. 451) the control
warehouses in Port
of the 55-mile railroad, electric light plant, wharf and
au Prince, the capital and
principal seaport, and the
control, through bond and stock ownership, of the electric light property
at Cap Haitlen; and cultivating and grinding sugar cane,
principally in
the fertile plans of Cul de Sac and Leogane where it has obtained control
and ownership of over 20,000 acres, and has completed and
operated since
Dec. 1918 a sugar factory with a capacity of 2,000 tons a day.
Bills
payable (Sept. 30 1918) $1,025,000.
Capital Stock (No bonded debt without consent of 75% of preferred stock).
Pref. (a. A d.) stock (par $100).
Convertible into common share
for share. V.104.p. 451; V. 107, p. 2289)
$6,000,000
Ordinary com stock (no par value) listed on Chicago Stock ExchGO.OOO shs.
Founders' stock (without par value)
60.000 shs.
Note.—The $3,000,000 notes dated July 1 1919 are due $1,000,000 annu¬
ally July 1 1922 to 1924.
Callable on any int. date on 60 days* notice at
102H and int.
See offering in V. 109, p. 176.
Proceeds were to be used
to liquidate all floating debt and provide additional funds for further de¬
velopment and working capital.
V. 109, p. 176.
DIVIDENDS.—April 1917 to Oct. 1919, paid \M% quarterly.
REPORT.—Income for year 1918, gross, $506,882; pref. divs., $343,515
sur., $163,368.
V. 107, p. 2289.
Estimated net earnings for years ended July 1 1920, $800,000; 1921,
$1,600,000; 1922, $2,400,000.
V. 109, p. 176.
Directors: P. W. Chapman, W. K. Dick, O. Edgar Elliott (Pres.).,
Edward H. York, George B. Caldwell, F. A. Dillingham, O. H. Tobey,
H. B. Harris, William Schall, T. L. Chapman (V.-P.), W. D. Breed,
H. L. Duer, S. Mallet Prervost, Reginald Lanier.—(V. 107, p. 801, 2289,
376; 7. 109, p. 176, 1991.)
bal.,
★ HIBERNIA MINE RR.—Owns
4.2
m.,
Guaranty Trust Co, N Y
1H See Central of New Jersey
June 301920 2% 61 Broadway, N. Y.
A
Apr 1 1920
A
A
A
Oct
1 1948
do
do
A
do
J
A
Aug 11955
July 1 1999
do
4*
do
do
Jan 1
6 g
M"&"
Mar
1949
New York
1 1924
300,000
I*
F
A
320,000
4H
F
A
To Aug 1
To Feb 1
220.000
6i
M
A
Sept 1 1922
Old Colony Tr Co. Boston
6*
J
J
A
M
A
M
A
11937
1 1937
1 1933
1 1933
Central Union Tr. N. Y
U
July
July
May
May
4,508,000
420,000
2,628,000
372.000
A
Ac.—Suooessor
Feb.
25
1923
/Commercial Tr Co,Phfl,
1924
and
I
61
Bway.
N
Y
165 Broadway, New York
do
1899, per
plan
do
V. 68,
p.
231,
of
Columbus Hooking Valley A Toledo Ry. foreclosed.
The coal lands aggre¬
gate about 20,975 acres, and are covered by the consolidated mortgage,
partly by direct lien and partly by pledged securities.
Decision In Ohio
State anti-trust suit, V. 105, p. 997, 909. 818.
The contract to be negotiated under the Federal Control
Act of Mar.
211918, will allow the company an annual compensation of $2,637,167.—
V. 109, p. 385.
LATE DIVS.
/ *07. *08-*10. '11. *12. '13. '14. '15. *16. '17. '18. '19. '20.
Per Cent.----- I 3*
4yriy.
In June 1920 paid 2%
7
7H
12
7
3
4
5H
4
4
text
TEXAS
A HAMPDEN
miles.
J July 1 1922-24
A
F
HISTORY,
★ GULF TERMINAL CO., MOBILE.—Owns union passenger station and
approaches at Mobile, Ala., leased by the Southern Ry. and Mobile A Ohio
RR.,whloh own the stock and guarantee the bonds, jointly and severally,
p. & 1., by end.
Franklin Trust Co., N. Y., is mtge. trustee,—V. 84, p. 50.
See text
Q-J
A
3
in 1919 J
do
Union S B A Tr Co.Cin
do
do
New York Trust Co, N Y
4 g
1,000
1,000
100
1,000
1.000
Bal., Sur.
Cross.
Net.
Other Inc.
Charges.
$45,538
$363,884
$627,685
$309,339
$2,328,741
June 30 1916
16,982
341,443
414,016
1,964,177
738,477
June 30 1915
31,488
340.069
121.003
1,633,006
429.584
Pres., Mrs. Melodla B. Jones, Buffalo, N. Y.; Sec., J. E. Gordon.
—(V. 108, p 378.)
O Apr
1952
1 1952
16,022.000
REPORT.—For year ending Dec. 31 1917 (V. 107, p. 396):
★ GULF
A
7.500,000
Years ending—
O Apr 1
4 g
1.000
1,000
1,000
Dec. 31 1917
A
J
1920 1% Hartford
J July 1 1923
A
2,441.000
Ac
1,000
1.000 Ac
1,000
1919
8er of 1914 due $80,000 ann
Hoosac Tunnel & WDming—1st M $250,000 g -—OBz
Hons Belt A Ter—IstM $5,000,000g red 105 textCexo*
Hous & Brazos Valley—1st M (trus Mero Tr Co, St L)
1867
1875
1899
1919
A A 31 Feb 28
2
2.967,000
700,000
345.000
261,000
6,000,000
Rookaway to Hibernia Mines, N. J.,
leased to Cent, of N. J. to Oct. 1930 at $6,000 yly.—(V.91.P.1766.)
★ HOCKING
VALLEY RY.—The company's
main line
extends from
Rockwell to Columbus, 119.9 miles; Columbus to Athens, 75.6 m.; Oldto Pomeroy, 80.7 m.;
total main line, 276.2 miles, with trackage
(Toledo Term.
RR.) Toledo
to
Walbridge, 3.6 m.; (N. Y. C. R.R.).
Toledo to Rockwell, 2.5 m.; Columbus and Athens, 2.2 m.; total main line
and trackage, 282.8 miles.
Branches, 44 miles; leasee W. A J. B. Ry..
Dundas to Jackson. 17.3 m.; Pomeroy Belt Ry., Pomeroy, O., 3.9 m.;
total,
349.7 miles; 2d track, 55.3 m.
Owns part interest in Toledo Terminal RR.
V. 99, p. 1210.
Double tracking, V. 105, p. 1801.
town
STOCK.—Chesapeake A Ohio By.
owns
$8,825,900 stock.
BONDS.—The oonsols
($20,000,000 authorized), besides a lien on the
entire property, subject only to $3,842,000 prior bonds, have a first Hen on
all the coal lands; $3,842,000 oonsols 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
A 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. M[tge. 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 secured the aforesaid notes.
Addi¬
tional bonds within the amount above stated, may be issued hereafter
at par, for
refunding purposes, for additions to, and betterments, 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 equipment.
V. 108, p. 784.
Kanawha & Hocking Coal A Coke and Continental Coal bonds.
See
V.
109, p. 386, 1527, and issue Nov. 1918.
Car trusts Oct. 1919, $800,000.
Equipment trusts issued to Director-General for rolling stock allocated
See article on page 3.
to this company.
Jan. 1 -Mar. 31
EARNINGS.—
Gross
1919.
1920.
Jan. 1 -Dec. 31
1919.
—
1918.
$3,312,719 $1,451,010 $11,654,516 $13,155,861
493,171 def.470,015
1,961,912
2,707,068
Net
ANNUAL REPORT.—Traffic is mostly freight, and over 70% of this is
bituminous coal.
Average revenue train-load is large—in 1918, 1,267 tons.
Report for cal.
year
1918 in V. 109, p. 368, 384.
Net Earnings—
1918.
Operating revenue
Oper. Inc. (after taxes)
Standard return
War tsbxess
Other income
L
"1916.
$8,200,420
$2,011,938
14 200
(netflZZIIIIIIIIIZIII Cr.2131978
693,263
576,977
$2,836,946
$3,141,108
$1,271,915 .$1,207,195
Gross corporate income
Interest?on debt
Rentals,
1917.
$13,155,861 $10,696,434
$1,989,404
$2,447,845
2,637,167
$2,588,415
$1,212,288
Ac
205,202
Dividends
(4%)439,980(5^)604,972
Balance, surplus
$919,849
(4)439,980
$1,328,940
$936,147
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; Geo.
W. Stevens, 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, Rich¬
mond; A. Trewett, Sec .-Treas., and A. C. Rearick, Counsel, N. Y., and
F. D. Hodgson, Comptroller, Columbus, O.
A HOOSAC TUNNEL & WILMINGTON RR.—See page 138.
★ HOUSTON
around
minals.
A
BELT & TERMINAL RY—Owns a terminal Une In and
Houston, Tex., 20 miles, with
large freight and passenger ter¬
Controlled by four proprietary roads, viz., Beaumont Sour Lake
Ry.. Gulf Colo. A Santa Fe (Atchison System), St. Bouis
Valley Ry., which each
25% of the $25,000 stock and, under the terms of an agreement dated
July 1 1907, agree to pay, under a pro rata wheelage basis, operating ex¬
penses, and, on a one-fourth basis, hit. on bonds and annual sink, fund of
1% of bonds issued.
The Terminal Co. has leased from Gulf Oolo. A
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.
Pres., J. N. Robins.—(V. 107, p. 401, 802.)
Western
Brownsville A Mexico Ry. and Trinity A Brazos
own
★ HOUSTON
& BRAZOS VALLEY
RR.—See page
138.
★ HOUSTON EAST & WEST TEXAS RY.—(See Map of Southern Pacific.)
from Houston, Tex., to Sabine River
at Logansport, 191 miles.
Annual compensation under Federal contract, $375,566. V. 108. d. 974.
Stock $1,920,000, of which $1,919,100 owned by So. Pao.
Co., which has
guaranteed $2,536,000 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. 236.
Owns
Dlv.. 16% paid In 1902-03, 30% In 1907-08, 10% In 1909-10, 11% in
and 4% 1912-13, to 1915-16, incl, 6%; 1917,
6%; 1918, 6%.
1911-12
Standard return in 1918 $375,565; other income $27,594; interest and
charges
al.
5159,035; $61,798. priorcal. 1918 1918, $67,127; dividends net, after taxes,
expenses For to
(net) gross, $2,087,716; (6%) $115,200;
sur.
year
$434,324.
For cal. year 1917 gross was $1,862,980; net, after taxes, $594.587.—(V. 107, p. 171.)
Mat
1920
tffir
]
RAILROAD COMPANIES
[For abbreviations, Ac.,
see notes on
Miles
Date
Par
Amount
Rate
Road
first pace]
Hous & TexC RR—IstM 1 gr gred llOint guCe.zo*&r
General mortgage gold Interest guar end-Mp.zo*&r
Waoo So N W Dlv 1st M g $25,000 p m
Ce.zo'&r
Austin & N W (merged) 1st M g gu p & I Mp.zo*ar
Ft Worth & New Orleans 1st M (Wax to Ft W)
z
Cut-off 1st M $3,000,000 auth (V 94, p 131)
H udson Cos—Pref stock (now com) text $4,000,00
Hudson & Manhattan (Hudson River Tubes)—
Common stock voting trust certificates
Pref stock 6% non-cumulative voting tr. certs
New York Sc Jersey first mortgage red 110-Q.xo*
First mortgage convertible
Q.xc*&r
First lien & ref M $05,000,000 g red 105-Cexc*&r*
Adjust inc M $33,574,000 red par cu beg '20 Qxc*&r_
Real estate mortgagee
Car trusts ser B g due $25,000 s-a(V91,p 1253) Gz.c*
Car trust ser O due $21,000 s-a (V 92, p 1025)..Qz
Huntingdon & Broad Top—Common stock
Preferred stock 7%
non-cumulative
First M extended In 1890 (lnt only In gold)—GPx
Seoond M old 7s extended In 1895 p So I gold—GPx
Third M consol extended In gold in 1895-GP.xo*
Oar trusts gold due $34,000 yearly<V 84,p 1424 _x
Equipment trusts due about $15,000 per year.PeP
Illinois Central—Stock $123,552,000
Leased line 4% stock guaranteed (see remarks)
z
Bonds
Value
Outstanding
%
453
1890
1890
453
55
106
$1,000
1,000
1.000
1.000
1 000
1900
41
1891
1885
94
$1,389,000
4,161,000
1,105,000
709,000
2,383,000
4.000.000
1910
25
100
1907
1913
1913
Bridge bonds gold
zr
Underlying St L) Belleville So Carondelet 1st M.zo*
Dlv
& Terml-)St Louis Southern 1stMg._Ba.o*
nal
mortgage.JCarb
&
Shaw
IstM
gold
o*
'"T.ooo
1,000
50
500
1854
1857
1865
1907
1.000
1.000
1918
72
1,000
500
1*75
1875
1880
1880
1895
1903
1886
700
111
£200
$l,000&c
1881
239
£200
1,000
1,000
1,000
1898
131
/1897
£200
$1,000
1,000
1892
17
I*
So
A Feb
&
A Feb
F
&
A Feb
do
text Feb
So
do
do
do
Guaranty Trust Co, N Y
Chase Nat Bank, N Y
do
do
No int paid April 1917
Hud & Man RR Co, N Y
Jan 25 1908 3 H
So
So
O
So
A Feb
So
O Moh 31
Phila office, No Am Bldg
Sept 30 1920
1 1925
<10
1925
do
So
O Oct '20-Oct '21 Phila Tr, S D & Inv Co
Jan '21-Jan '28 Philadelphia
Junel "20 IX % 32 Nassau St.N Y, Sc Lon
Q—M
Jan
*20 2%
0
do
do
So
1951
Apr
BaringBros .London ,Eng
.
So
Deo
So
Jan
So
Jan
So
Moh
So
O Apr
J July
St
Jan
St
Aug
So
Deo
§H
3 *
St
St
July
July
St
June
M
St
Sept
M
So
Mob
g
4 g
do
Apr 1920
Guaranty Trust Co, N Y
do
do
Aug 20-Aug '21
Jan 28 1904 1%
So
So
4 g
do
do
11957
So
do
do
do
1 1957
1 1957
See
Payable
165 Broadway, NewYork
1 1932
F
Where Interest and
Dividends are
1937
1921
1930
1941
1
1
1
1
F
5
4 g
I 8
Places
Deo 1 1925
June 11940
6
3,000,000
8,377,000
4,998,000
470,000
538,000
241,000
1.000
1,000
1,000
1.000
1883
1880
1887
Maturity
4 g
968,000
1,000
500 &o
U897
17
30
Dividend
and
July
Apr
May
July
H *
100
100
(see remarks)..Us.zo»&r
St Louis Dlv So Term M $ 10,000,OOOgold ._Us.o*&r
do
$5,000,000 (see V 65, p 1173) g.Us.yo*&r
500 See
72
72
72
Last
„
50
secures
Rank & 3 W 1st M Otto to Normal Juno <fc br
100 Sec
1910
1911
First mtge of) Sterling Bond old 6s ext in 1895__.z
18 7 4
for Bonds extended in 1905 as $ bonds..
$15,000,000)48 of 1886 due 1951 gold...zc*&r
all 3Hb of 1886 due 1951 gold..zo*&r
equally .Us 3s of 1895 due 1951 gold—zo*&r
(V 83. p 76) j3
of 1903 due 1951 gold...o*Sot
Trust bonds sterl. (sec by Cb St L & N O cons) .Us.z
Springf Dlv 1st M ref M (V 60, p 1237) g-Us.c*&r
1.000
$, £ or fr
72
When'
Payable
39.994.890
5.242,151
5 g
5.000,000
944.000
4H g
37,521,234
5 g
33.102.000 Up to 5
858,000
25,000
f g
5 g
63,000
1,371,750
2.000,000
416,000
i g
367,500
te
5 g
1,497.000
85.000
6
96,000
109 296000 7 in 1919
9,989.700
4
2,500,000
4 t
1,000,000
3tt g
4 g
1,500,000
3 H g
2,499.000
£500,000
3 e
3 He
3,000,000
5,266,000
3H e
2,000,000
3H e
100
1902
65
Control.
2*
1,920.000
1.000
.....
Cairo
APrlvate
RAILWAY STOCKS AND BONDS
1950
1951
1951
1951
1951
1950
1951
1921
1950
1951
1951
11923
1 1931
1 1932
32 Nassau St., New York
do
do
do
do
Baring Brothers, London
32 Nassau St, New York
Baring Brothers, London
32 Nassau St., NewYork
do
do
do
do
do
;
do
do
do
do
do
do
do
do
_
•
do
★ HOUSTON & TEXAS CENTRAL RAILROAD.—(See Map of Southern
Pacific.)—Owns from Houston, Tex., to Denison, Tex., 338 miles; Hemp¬
stead, 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.; Glddlngs to
Hearne, 58 m.; other, 43 m.; Trackage rights over San Antonio & Aransas
Pass. 38 m.; Texas & Pacific Ry., Fort Worth to Dallas, 31 m.
Other
lines, not classified, 24 miles.
Total operated Dec. 31 1917, 949 miles.
Annual compensation under Federal contract, $1,717,506.
"STANDARD RETURN."&c.—See page 5.
Gross revenue$5,078,422 $4,427,006 Stand. returnx$3,150,493
Net, aft. taxes$2,154,110 $2,207,102 Exp., tax., &c
57,413
Bldgs.. net—
795,179
876,777 Prior bd. int__
660,000
Miscellaneous.
117,701
51,310 Prior bd. int_.
260,949
Fixed bd. int. 2,168,535
STOCK.—Stook, $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.
Corporate income account, year ended Dec. 31 1919: Standard return?
$3,003,363; miscell. income, $205,770; expenses, taxes and fixed charges,
$377,036; interest, $2,168,535; reserve for contingencies, $640,000; net in¬
BONDS.—The 1st M. 5s
being gradually retired at or below 110 with
for $8,634,000.
See abstract of mtge. in
V. 52, p. 242.
With the exception of $1,149,000 consol. M. 6s (on which
no interest Is paid) deposited with the trustee as part security for the
gen¬
eral 4s, all of the consolid. 6s have been retired with proceeds of land sales.
Southern Pacific Co. owns $450,000 Lampasas Extension 1st M. 5s, $400,
000 Waco & N. W. Div. 6s, the $2,383,000 Out-Off 6s and $70,000 Gen. 4s.
Unsold land grant Dec. 31 1918, 15,808 acres.
land sales.
are
Thefirst mtge.
EARNINGS.—8
was
mos.,/1919
REPORT,
Cal Year—
Year
ending Dec. 31 1918 (V. 109,
1918.
1697):
1917.
Tot.net inc.$3,066,991
come,
p,
1918.
$3,135,1881
Surplus
1917.
$685,000
280,807
280,807
280,807
2,167,534
$3,597
$1,847
$23,562.
OFFICERS.—Chairman of board, Wilbur C. Fisk; Pres., Oren Root;
Treas., James S. O'Neale.
New York office, 30 Church St.—(V. 110.
970, 1415, 1526 ,1748, 2192.)
p.
HUDSON
RIVER
RR*
CONNECTING
CORP.—Incorporated
in
N. Y. State March 19 1913 to build for the New York Central RR., which
Dec. 31 1917 owned the entire $250,000 capital stock (also $300,000
on
notes)
ton
a
and
high-level railroad bridge across the Hudson River between CastleShodack Landing, about 11 miles south of Albany.
The U. S.
Gross, $5,676,679; net,
$896,605
..Gross,
5,812,720; net, 1,823,274
$1,717,506; other income, $110,217;
interest, &c., charges, $652,654; expenses (net) prior to 1918, $203,450;
bal. sur., $971,619.
fn cal. year 1917 gross Income was $3,061,783; balance, after fixed charges
Including interest on funded debt ($606,823), $2,168,647.
p.
★ HUDSON COMPANIES.—Incorp. Jan. 9 1905 in New York.
Holding
for Hudson & Manhattan RR. Co. (see below).
Owned Dec. 31
1918 $2,307,613 of the $5,242,151 Hudson & 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
$21,000,000 to $4,000,000, all the $5,000,000 old common being voluntarily
sale of the stock, the pref. to not Jess than $50 and the com. to not less
than $25 per share.
In 1918 the trust was extended till April 1 1923.
Jan. 1 to Aug. 31.
\1918
For year 1918, standard return,
company
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
Corn. (V. 105, p. 1806; V. 108,
p. 263.)
The whole issue of $2,000,000 6% sinking fund of the said Securities Corp.
due Aug. 1 1931 (but callable at 105) having been disposed of together with
RR. Administration in May 1918 sanctioned the
expenditure of $2,000,000
on the enterprise.
Expended in 1918, $52,455.—(V. 104, p. 1801; V. 106,
DEPOSIT
trustees
pref. stock of the Hudson Cos. of record March 17,
share to the holders of each 16 shares
78, 277; V. 106,
p.
p.
(par $25) of Hudson Cos.
one
$100
Y. 108,
493.
REPORT.—Balance sheet
as
of Dec. 31
1918, V. 108, p. 263.
OFFICERS.—W. G. Oakman, Pres.; Wm. Henry Barnum, V.-P. Sc
Treas., Wm. Everdell, Sec. Ill Broadway, N.Y.—(V.108,p. 78, 263,277).
HUDSON
BAY RAILWAY.—(V. 106. p. 2757, 1837; V. 109, p. 172.)
★ HUDSON
& MANHATTAN RR.—Owns and operates double-tube
electric tunnels
opened in 1908 from Sixth Ave. and 33d St., New York
City, under the Hudson River to the D. L. & W. RR. station, Hoboken,
J., and thence southwardly through the Erie and Pennsylvania RR.
N.
stations in Jersey 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.
Total double-track tunnel in operation, 7.91 mlies.
Also affords through service between Newark and New York City, using
Pennsylvania RR. tracks from Jersey City to Newark.
Y. 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.
As to projected
trolley line connection with Federal Shipbuilding plant, see V. 106, p. 1461.
In Dec. 1917 passed temporarily with the steam roads as war measure
under Government control.
Govt, advances to Nov. 15 1919, $3,776,338;
$1,000,000 as 6% loan and $2,776,338 on rental account.
V. 107, p. 1344;
V. 106, p. 822, 929.
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 98X% of the
4**% bonds and 95X% of stock.
Application to list, Y. 98, p. 393-8.
First M. $65,000,000 Auth.) issued. 5% call.any Int. date at 105 $30,705,134
Reserved (interest rate not to exceed 5%) for—
(1) Retirement of N. Y. Sc Jersey RR. 1st 5s car trusts and
real estate mortgages ($1,207,500), not over
$9,530,000
(2) Additions, betterments and equipment; also for exten¬
sions free from prior encumbrances, provided the annual net
income of the company is 1X times the Interest upon the
new 1st M. bonds, lncl. those then about to be issued, say.
12,693,696
(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 (Y. 90, p. 209), Issued.....33,102,000
Reserved for exchange for remaining 1st M. bonds
472,000
The deposited stock is to ibe held for 5 years in a voting trust and
■o long as the Adjustment bonds shall not have received full 5% int. for the
preceding year, the holders shall have the right to nominate or improve
up to one less than a majority of the board.
Voting trustees: Charles
Francis Adams 2d., Boston; Felix M. Warburg and Albert H. Wlggin. N. Y.
Permission was granted in May 1919 to issue $1,036,000 1st Lien & Ref. M.
bonds in V. 108, p. 1610, 2241.
7
i
INTEREST ON INCOME BONDS.—2% yearly 1913 to Oct.
1910 lncl.;
beginning April 1917,
none, pending establishment of $1,000,000 reserve
contingencies.
V. 104. p. 856. 1483.
Federal contract signed July 1919 fixing annual compensation at $3,003,362. V. 109, p. 72.
for
EARNINGS.—12 mos.,ft919..Gross, $6,130,718; net (after
Jan. 1 to Dec. 31.
\1918--Gross, 5,078,422;
taxes),
nnn
$2,311,350
2,154,110
OF STOOK.—Over
75% of stock was deposited with 5
(Drexel & Co., Phila., depositary) under agreement limiting the
V. 106, p. 1230; V. 96. p. 420, 1021. 1297, 1488
BONDS, &c.—V. 107, p. 1384; V. 105, p. 2542; V.
DIVS.
Oommon
Preferred
106. p. 296.
'98. '99. '00.
01. '02. '03. '04. '05. '06. '07. '08.
00000510000
55H7
5
6
7
6
5M 7X
7
3W
ANNUAL EARNINGS.—
Gross.
*1919
Net.
-$230,032
233,175
*1918
Int.,
$199,635
218,337
'09-Oct. T9
0
0
Ac.
$131,756
111,693
Bal..Sur
$67,879
106,644
*
Corporate income.
Federal Compensation.—$201,694.
Pres. & Gen. Mgr., Carl M. Gage, Philadelphia.—(V. 110,
$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
2194, 2550; V. 107, p. 181.)
★ HUNTINGDON & BROAD TOP MT. RR. & COAL CO.—Owns from
Huntingdon, Pa., to Mount Dallas. Pa., 44 miles: branches, Soo., 28 miles.
p.
561.)
★ ILLINOIS CENTRAL RR.—(See Map.)-—ROAD.—Operates from Chi¬
111., southerly to New Orleans, La., 913 miles, and westerly to Sioux
City, la., 509 miles, with numerous branches, viz. (•which see);
cago,
Road owned in fee—
Chicago to Cairo, 111
IMaln
Centralis, 111., to East is tern
Leased—Control owned—
Miles.
__
Dubuque, Iowa
J
Dubuq. So Sioux City (see above)
Springfield to East St. Louis
Peoria, 111., to Evansvllle, Ind.,
with 6-mile branch
706
Miles
Chloago St. L. <fc N. O. RR.#
Cairo, 111., to New Orleans
Line to Louisville,
Soo
546
752
Mem. ,Tenn., toMem .J ct. .Miss
98
St. Louis Alton So Terre Haute.
224
Entire stk .owned- Branches, So o
967
234
Trackage,
220
177
Total operated Dec
701
97
Ac
Indianapolis,
Ind., to Effing¬
ham. IU. (V. 93, p. 880)
311918.4,782
HISTORY, LEASES, &c.—Chartered on Feb. 10 1851.
The Chi¬
St. L. So N. O. is leased tor 400 years from July 11882 at 4% per annum
its $10,000,000 capital stock deposited to secure the leased line stock and
Int. on bonds. As to proposed terminal station in Chicago. Y. 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 Sc Mississippi Valley RR.,
1,382 mUes, 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. Sc Gulf RR., 52 m.; V. 90. p. 420, 716;
also $1,000,000 stock of Madison Coal Corp. See V. 105, p. 1899; fare de¬
cision, Y. 106, p. 296.
Proposed new terminal at Chicago, V. 109. p. 270.
V. 110, p. 465, 561.
cago
on
CAPITAL STOCK.—The leased line stock Is secured by deposit of $10.000,000 Ch. St. Louis & New Orl. stock.
V. 65. p. 1071; V. 100, p. 395.
In Dec. 1918 Union Pacific owned $22,371,600 of the common stock. In
addition to $3,486,420 com. and $1,936,990 pref. stock of Railroad Securties Co., the latter company owning the equity in $9,200,000 additional.
LATE\'01Sept.'04. '05 to *12. '13. '14. '15. '16. 1917. Mar.'18-June'20.
DIVS.} 6 yearly
7 yearly
6
5
5
6X6 Sc 1 ex 7%p.a.(lX Q.-M)
BONDS.—Cairo bridge. see adv. In
"Cnronlole," May 7 1892.
The Trust Bonds of 1886 are secured by deposit of $5,260,000 Chicago St. L.
Sc New Orleans consols of 1881: also by a lien on the road. See V. 86. p. 1343.
Collateral Trust bonds of 1952 cover by
pledge of $10,350,000 5% 1st M,
V. o5, p. 550; V. 102, p. 1346.
pledge of all
RR.), $10,900.000 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 J4s of 1897 are guar., prin¬
cipal and interest, by endorsement—see guaranty. V. 65, p. 1071.
Western Lines Loan of 1895, see "Supplement" of Jan. 1899.
Total auth.,
$10,000,000; $5,425,000 outstanding and $4,550,000 pledged in Feb. 1919.
The St. Louis Division A Terminal bonds are for $15,000,000 authorized,
$1j499,000 are held to retire $1,400,000 underlying bonds.
Abstract of
mortgage in V. 66. p. 138.
See also V. 66, p. 133; v. 71, p. 540.
Louisville Division A Terminal mtge. Is for $25,000,000; of the bonds
$1,112,000 were reserved to purchase the 46 m. (Cecilia br.) from Louisville
So Nashville and to retire the L. So N. bonds thereon.
Chicago St. Louis So
New Orleans took title to the Loulsv. Dlv. and joined In making mtge.
See
V. 00, p. 130, for abstract: also "Supplement" of Jan. 1899.
V. 65, p. 367,
510; V. 00. p. 133: V. 07. p. 581: V. 75. p. 071 V. 97. p. 887. 1024.
bonds 863 miles of
subsidiary lines.
The $25,000,000 collateral trust bonds of 195.3 are secured by
the Loulsv. N. O. So Texas (now Yazoo So Mississippi Valley
[Vol. 110.
RAILWAY STOCK AND BONDS
nilNOIS
°
CENTRAL
°
SYSTEM.
★Government
Mat, 1920,J
A Private
RAILWAY STOCKS AND BONDS
Contract.
67
Control.
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rats
When
Last Dividend
Places Where Interest and
[For abbreviations, Ac., see notes on first page]
Road
Bonds
Valus
Outstanding
%
Payable
and Maturity
Dividends are Payable
Illinois Central (Concluded)—
Purchased lines 1st M S20.000.000 gold__Us.xc* Ar
Ref M (Nor Lines) $120.000.000 g red-.G.xc*&r*
Collateral
trust
bonds
748
2,187
857
798
218
Coll trust S25.000.000 gold on I»NO A T.Us.zo* Ar
Western lines first mortgage gold
Us.zo*Ar
Cb St L & N O cons M (S18.000.000) g lnt gu.xo* Ar
1895
567
—.Us.zo*Ar
gold
1904
1908
1888
1881
1897
567
1892
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
1,512
1,512
1913
1913
500 Ac
£100 Ac
A 1 'end)-Us.zo*
100
1889
Louisville Dlv & Term M S25.000.000 g~Us.c*Ar
Omaha Dlv 1st M g S5,000,000Us.xc*Ar
Litchfield Dlv 1st M g S4.000.000-——F.xo*
•
640
1897
1900
1900
1908
$1 000
500 Ac
1,000 Ac
1.000
1919
1,000
■
d
IstLleneq MS30.000.000(less$26,613.000 cancel.) U«.x
Secured g bds call 101 on or aft Jan 1'24_ Fvvv.c*Ar*
Equip eqcerts ser A g $400,000 s-a call 102H-—t
Series Bg due SI75.000 s-a (V 97,p299)
*
Series O g due $99.000s-a red 1024$ beg 1920 .yc*
Series D due $95,000 each J & J; callable 102H A
lnt on or after Jan 11921*
Ser E due S275.000 s-a call '22 1024$ % gu.CPyc*
OhStL& N O eq tr ser A g gu red 1024$ beg Dec'19
due $250,000 semi-ann
c*
Illinois Southern—1st M gold $3.000.000
FC.xo*
Income bonds SI,380,000 authorized .___._„IC.xo*
Illinois Tunnel Co—See Chicago Subway Co,
Indiana Decatur & Western—SeeCln Ind & Western
Indiana Harbor Belt—GenM$25.000,000 g (J.xo* Ar*
do
130
—
-
-
4mmm
& W first mortgage
gold assumed.xo#Ar
Equipment trust certificates $540,000
.......
A
J July
4 g
M
A
N Nov
1 1955
do
A
A
1 1952
do
do
4 g
4 g
M
A
O Apr
N Nov
1 1953
do
do
F
A
A
do
do
Aug
5 g
JAD.15 June 15 1951
3 4$ g J A D 15 June 15 1951
.
3,500,000
23,732,000
5.000,000
3.235.000
-
-98
1,000
1917
1,000
1,000
1.000
1911
1,000
1,000
136
1,000
....
46
27.48
...
1907
1907
1897
1916
1,000
Ac
500
Ao
1
1
1
(
t
D Dec
A
D
Dec
1 1963
1 1963
A
D Deo
1 1951
J July
A
A
A
Of Purchased Lines 34$s of 1904 $14,662,000 were Issued on 748 miles of
branch lines purchased, of which $2,662,000 were canceled
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. b. 288: V. 79. p. 1273, 1642, 2588: V. 81, p. 1105.)
Refunding mtge. gold 4s of 1908 (auth. $120,000,000) are subject to call at
107 M and Int. M. A N. beginning Nov. 1918; V. 104, p. 863; V. 87, p.
1357,1420; V. 88. p. 295; V. 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 Dlv., Ac., a total of 2,174
Jan. 1911
m.,
do
do
do
do
do
do
do
A
J Jan
J
&
J Jan
5)4 g J
A
A
44$ g A
A
A
subject to bonds aggregating $61,766,000, incl. $2,500,000 Chic. Hava¬
A West. 5s and Rantoul RR. 5s pledged under 4s of 1952.
.$59,026,000
Additional main traok. Improvements, funding
debt, Ac
20,234.000
[On Dec. 311918 111. Cent. RR. owned $20,234,000 of these unpledged.
The Illinois Central and Chic. St. Louis & New Orl. RR. Joint First Re
unding M. bonds ($120,000,000 auth. Issue) are issuable in series bearing
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 Montlcello Branch (52 m. and 21 m.
respectively) and the Yazoo A Miss. Vail. RR.
V. 97, p. 1822.1733,1204
Y. 98, p. 1459, 1608; V. 99, p. 1300; V. 100, p. 397, 474, 1852; V. 106.
p. 2757; V. 107, p. 696.)
Purposes for Which Said $120,000,000 Joint Bonds Were Issuable.
[Dec. 31 1918 amount Issued, $41,534,085 ($40,883,700 Series A and
J1650,385 Series B), outstanding in the hands of the public.] $11,554,200,
eaving $29,979,885 of which the Illinois Central RR. owed
(a) To purchase and improve railroads, terminal properties,
Ac., covered by this mortgage, all sold.
$33,348,100
(b) To refund or retire a like amount of prior mortgages
50,132,000
(c) For future improvements, construction, etc..
36,519.900
-
The $16,000,000 5Secured Gold Bonds, Issued In 1919 on account of
Improvements and additions, were secured by pledge of the following
a then market value of about $20,000,000, viz.: (a)
do
J Jan
do
do
do
do
1 1951
1 1923
do
-*■
1 1934
A
Aug '20-Feb *23 N Y off or Oom Tr, Phila
Aug *20-Aug '23 N Y office or Un Tr, Pitts
O Oct *20-Apr *25 N Y offlce or Oom Tr, Phil
A
44$
J
A
J
5 g
M
A
N
2.500,000
1,936,000
1,380.000
5 g
J
A
5 g
J
A
M
A
2,500.000
1,725,000
2,500.000
468,000
4 g
4 g
J
A
J
J
A
6g
J
A
J July 1 1957
J Jan
11927
44*
J
A
J Jan
July*20-Jan '26 Bankers Trust Oo, N Y
Nov '20-Nov'27 New York
D June 20-Dec *24 New York
D June l 1951
In default
S June 1 1951
July 1 1957
1
Grand
Cent Term, N Y
do
do
do
do
1931
Oomm'l Trust Oo, Phils
1 1926
Fidelity Trust Co, Phila
1
Farmers' L A Tr Oo. N Y
1965
1 1923
6% notes
dated Feb 11920
ArINDIANA HARBOR BELT RR.—Owns Whiting, Ind., to Blue Island;
111., 14 miles; McCook to Franklin Park, 111., 10.5 m.; Argo to Union Stock
Yards, Chicago. 11 m.; State line to Grassell, Ind., 5.5 m.; branches, 5 m;
total owned. 45.5 miles; trackage, 71 m.; total, 116 miles.
Federal
Compensation.—$296,054 yearly
Federal control
during
(con¬
tract executed).
Stock 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.
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. A
W. 6s; $2,500,000 bonds out.— V. 86, p. 108. Due for advances Dec. 31
1917, $3,857,082.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
and Chic. & Northw., 40%.
Jan.
Purposes for Which $79,260,000 Ref. Bonds (Nor.Lines) Unissued Were Res'd.
To retire a like amount of prior lien bonds..
Baring Bros, Lon ANY
32 Nassau St..New York
1 1953
1 1951
Aug
J
4H g F
F
5 g
1,140.000
4,125,000
1913
1915
1916
...
3 g
4 g
16,000,000
2,400,000
1,225,000
990,000
1913
--
A
J
5 g
J
5 g
J
4 g
3 4$ g J
F
3 g
129,979,885
All owned
subsidiary
na
N. Y.
32 Nassau St,
1 1951
Indiana Illinois & Iowa—See New York Central RR
Indianapolis & Louisville—See Chicago Indianapolis A Lou lavllle
A
N May
765.000
1,000
123 1886
Indianapolis Ua—1st M gold s f not callable.__FP.xo*
44$ g M
5 g
J
A
J Jan
IQlfi
Oen A Ref M SI0.000,000 g gu red text...F.e*Ar*
1,000
%4.000,000
F
&
A Feb
6 g
4,000,000
1920
1,000
3-year Secured Notes t$4,250,000gcall 101.UPl.xc
bonds of 1886.
a Includes sft 2ttft.000 ooasol 6s pledged to secure
Illlnoi s Cent ral col la teral trust
t Of which $250,000 are in treasury.
X $5,000,000 have been is sued as 6s and are pledged f or the 3- year
In
1 1952
••
1914
...
do
do
Chlo Ham
3h e J
4 g
I
—
Memphis Dlv 1st M gold guar
1
$1,000&o $12,000,000
1.000 Ac
40,740,000
$500 Ac 15,000,000
500 Ac 24,979,000
5,425,000
1,000
1,000 al6.635.000
1,000
1.359,000
EARNINGS.—
1 to Mar. 31
1920.
Gross
Net..
—(V. 110,
p.
$1,519,781
def.117,234
1 to Dec. 31—
Jan.
1919.
-
.$2,047,333
def.194,354
1918.
1919.
$6,562,912
def.547,295
$5,591,235
def.806,476
970.)
★ INDIANAPOLIS UNION RYOwns 1.23 m. of road, 1.15 m. 2d main
track and 4.15 m. yard tracks and sidings, with terminals at Indianapolis,
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.
are
virtual
proprietors,
having Invested in It $1,065,472
to Dec. 31 1918.
No stock outstanding.
Elevation of tracks In progress.
V.109,p,676. U. S. Admin, sanctioned capital outlay of $1,604,637 for 1919.
BONDS.—The General and Ref. M. of 1915 will secure not over $10.000,000 60-year bonds, to bear rates of interest as may be hereafter deter¬
mined, to be guaranteed jointly and severally, prln. 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 A Western RR., Cincinnati
Indianapolis A Western, Chicago Indianapolis A Louisville By. and Illinois
Central RR. have contracted to use the property perpetually as their
main
passenger
terminal,
and
to
pay
each Its
proper
and
designated
securities, having
proportion or the interest od present or future values and of any bond
517,350,000 Illinois Centralbonds, Series A, due Dec. 1 1963; (5) $4,550,000
oint First Ref. Mtge. 6%
RR. and Chicago St. Louis A New Orleans RR.
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¬
Western Lines 1st M. 4% gold bonds, due Aug. 11951. V. 108, p. 578,2629
Equipment Trusts.—v. 96. p. 135, 553; V. 102, p. 608, 345; V. 99, p
1748, 48; V. 100, p. 1257. Series E Is subject to call, all (but not part)
on or after Nov. 1 1922 at 102M jand dlv.
V. 106, p. 189, 1577, 2123.
Loans and bills payable as of Dec. 31 1918, $21,150,000.
Federal Compensation.-?-Under contract signed June 18 1919 with the
U. 8. RR. Administration the company receives an annual compensation
of $16,282,374 per annum, or $16,540,717, incl. Ch. Memphis A Gulf,
Dunleith A Dubuque Bridge, Ac. V. 108, p. 2528, 1714.
Compensation
of Yazoo A Miss. Valley RR. $3,862,317. V. 108, p. 2529.
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.—
1920.
1919.
1919.
1918.
ter at 103;8ink. fund
beginning 1926, I % of outstanding bonds, bonds pur¬
A Tr. Co.. N. Y.. and Union Trust
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. A 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.
V. 110, p. 167.
Year ended Dec. 31 1918. standard return (est.). $226,781: other Income,
$10,617; total deductions, $157,481; bal., sur., $79,917.—(V. 107, p. 905;
V. 109, p. 676.)
chased to be canceled; Farmers' Loan
Co..
Indianapolis, trustees.
INTERBOROUOH-CONSOLIDATED CORPORATION.—ORGANI¬
ZATION.—A holding company, formed under N. Y. laws Juns 2 1915 by
plan In V. 100,
p.
1437. I5l0. 1751, 1917.
$34,411,934 $24,757,032$107,886,835$107,320,261
6,011.966
1,665,567
8.975,755
17,135.850
REPORT.—Report for 1918 in full in V. 108, p. 1603, 1725.
Corporate Income Account for 1918, Based on Federal Compensation:
Owna $33,912,800 of the $35,000,000 stock of the Interborougb Rapid
Transit Oo. and $15,276,600 of the $17,495,060 stock of the New York Rys.
Calendar Years—
Surface lines owned or controlled by Tnterb. Rap. Tran. Co.-141.07 milts
New York Railways (see V. 108, p. 677) June 30 1918......151.02 miles
Gross
Net-..
1919.
1918.
1917.
Accrued standard return
Net railway income
$16,282,373 $16,282,374
*17,615,162
15,455,863 $22,911,624
853,200
928,723
1,400,864
Other income
7,421,549
7,508,053
4,317,207
Deductions
12.014,592
11,078,491
10,636,641
Sinking fund and other reserves
118,200
118,200
118,200
Investments in physical property
170,100
55,679
56,934
Balance, surplus
11,880,619
10,782,823
15,016.193
*
Includes special compensation" of $1,614,093 not included in "standard
Federal Income tax accruals
——
return."
Calendar Yeats—
Freight revenue.....)
Passenger revenue —£
Other
revenues.....)
1918.
1917.
1916.
1915.
$58,443,367 $49,437,830 $42,681,011
$107,320,261 16,908,698 14,222,848 12,661,576
11,792,721
,
/
10,079,588
i
8,461,492
______
Interborougb Rapid Transit Co., subways. Ac. (see that co.).. 146.26 miles
130.23 milts
Elevated (Manhattan Railway, leased)..
RECEIVERSHIP.—James R. Sheffield of N. Y.
was made receiver on
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.
V. 108, p. 1165.
New York Railways is also in receiver's hands.
V. 109, p. 1273.
(1) Committee for Interboro.-Metrop. 44$% bonds: Chas. H. Sabin,
Chairman; John A. Griswold, Sec., 140 Broadway, N. Y. City.
Guaranty
Trust Co.. depositary.
V. 108, p. 878,1165, 1390.
$30,408,000 deposited
Aug. 12 1919.
V. 109. p. 676.
(2) Committee for Pref. and Common stocks: Chairman, Eugene V. B.
Thayer; Sec., Charles B. Makepeace, 115 Broadway, N. Y., with Mercan¬
tile Trust A Deposit Co., depositary.
V. 108. p. 1275.
Mar. 21
w
„
Report by Stone A Webster, V. 109, p. 1079, 2356, 2436.
Legislature, V. 110, p. 971.
^
Report to
.
Total oper. revenue.$107,320,261
Net, after taxes
Other income..
Gross Income
Interest
on
funded debt
Rents, Ac
Dividends..
Surplus
$87,144,786 $73,740,266 $63,804,079
$18,606,217 $16,759,239 $11,492,233
8,009.365
13,015.837
7,679.650
..$26,615,582 $29,775,070 $19,171,883
$8,477,619
$5,546,266
$5,504,903
i.
3,121.770
6,762,391
6,529.815
(7K)7,923,960(54$)6011280 (5)5,464,800
...
$7,092,233 $11,455,132
Yazoo A Miss. Valley By.—
Gross earnings
Net. before taxes...
$2,672,365
1918.
1917.
1916.
$22,477,009 $18,152,123 $15,135,123
5.745,471
5,681,990
5.650.077
OFFICERS.—Chairman, Chas. A. Peabody; Pres., Chas. H. Markham*
V.-P.|t C. M. Kittle, L. W. Baldwin, M. P. Blauvelt, Archibald S. Baldwin?
Sec., D. R. Burbank; Treas., R, E. Connolly.
General offices/ Chicago,
111.; N. Y. office, 26 Liberty St.
Directors.—WaJther Luttgen, John W. Auchincloss, William Averei
Harrlman. R. W. Goelet. Cornelius Vanderbilt. J. Ogden Armour. Chas. A.
Peabody, John G. Shedd, R. S. Lobett, H. W. de Forest, Philip Stockton,
D. R. Burbank and ex-officio. Hon. Frank O. Lowden, Governor of Illi¬
nois.—(V. 109, p. 270, 1366; V. 110, p. 465, 561, 970, 1415, 1748.)
A ILLINOIS
SOUTHERN RY.—See
page
138.
and assets, and while the full
V. 100, p. 1437, 1510, 1751.
STOCK.—Pref. stock Is pref. as to divs.
6% Is not paid, has double voting rights.
BONDS.—The coll. trust 44$s of 1906 of the Int.-Met. Co, are secured
by pledge of $33,912,800 of the $35,000,000 stock of Interborougb Rapid
V. 82, p. 280. A sinking
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 44$s.
Transit Co., $1,000 in bonds for $500 stock.
fund was established In 1910, $300,000 to be
REPORT.—For calendar year 1918, In V. 108, p.
Cat.Years—
1918.
1917.
Other Int., Ac.
on I. R.
I
Divs.
T. stock...$4,239,100
Other income.
163,076
$6,782,560 Taxes
173.306 Sinking fund.
_
Pref.
Total
372, showed:
1&18.
$115,215
209.922
300,000
divs..(1)4)686,108
1917.
$110,307
229.494
300,000
2.744,430
inc..$4.402,178 $6,955,866
In t.onI-M4J4s$3,052,125 $3,052,125
Balance, surp.
$38,806
$519,480
OFFICERS.—Pres
V_,-P8., H. H. Vreeland, E. Mora
Davison; Sec., H. M. Fisher; Treas., J. H. Campbell,
Office, 165 Bway.,
N. Y.—(V. 110, p. 77, 167, 764, 1289.)
o*
00
SO
>
HH
s
5
O)
H
O
O
o
Mat, 1920.)
69
RAILWAY STOCKS AND BONDS
*g~"
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rate
When
Road
Bonds
Value
Outstanding
%
Payable
and Maturity
+
I nterborough Consolidated Corporation—
Common stock (no par value)
^
Pref stock (as to assets) 6% non-cumulative
Int.-Met coll tr bds g sec by lnt R T stk s f text ,x&rc*
Bank loan replacing 10-yr notes (V, 106, p395(Ba.c»
Interborough Rapid Transit—Stock $35,000,000-1st & Ref M $300,000,000 g s redlllO (text) Q.yc*&r*
Secured conv notes g call series A & B—xxx.Ba.c*
1906
1916
None 932,627 shrs
100
text
45,740.500 See
1,000 <fco x67.825.000
4>4 g
1,000
700,000
Preferred stook
(p & d) non-oum (see text)
Receiver's
issue)
-—1st Refunding M $50,000,000 gold red 110
Cex
Three-year 5% seoured notes redeemable 101 g.Cex
do
g due $50,000 s-a (V 97, p. 521,729).-Eqx
Receivers equip trust notes $39,000 semi-annually
ctfs (refunding
held alive In sinkl
Is part security for
Includes $3,543,000 (face value)
f Further $12,150,000 pledged
1913
1918
100
1913
1,000
1,000 &c
$ £ fr
1,000
1,000
1916
1.103
500 &c
1,000
1918
1911
1911
'
lines in N.Y.
Mileage in Operation June 30—
-Length of Road—Total Single
(Description new lines, V.109,p.1174) 1919.
1918.
1919.
Seventh Avenue
13.80
18.89
15.73
13.80
16.90
0.72
28.19
21.15
4.67
3.10
division__37.67
1.67
37.67
0.71
9.32
130.30
3.08
130.23
1.36
100.72
85.16
330.42
276.49
...
Pelham Bay Park line
Manhattan (Elevated Ry.)
Connecting lines
-
"Outside assets" in Dec. 1917. V. 103, p. 2365.
LINES.—On
Mar.
19
1913
an
of
signed between
96. p. 62, 359, 1701)
agreement was
for the establishment
boroughs.
comprehensive dual systems of rapid transit serving all
1913,
published in "Chronicle" of Aug. 16 1913, pages 450 to 455, giving full
See also V. 97, p. 744, 1024.
particulars as to new contracts, bonds. &c.
Oper.bg InterborouohR.T.Co.
Road
(Exclusive of Manhattan Rg. and Sidings)— Miles.
Company's original lines
25.7
New, to be built jointly by city and company. 48.5
Lines to be
74.2
Total
Track
Subw.
Track
Total
Elev. Track.
16.9
71.5
56.1
75.6
13L7
"
73.0
147.1
88.4
220.1
of New Lines.—See V. 109, p. 2440.
/
completion of lines see V. 106, p. 1126,11344,
1901, 2346, 2451; V. 107, p. 2009, 2098, 2290.
Strike, &c.. V. 109, p. 676.
Status
As to aid for contractors and
776.
The Brooklyn Rapid
way
Transit Co. on Jan. 5 1918 started service on
between Times Sq. and Whitehall St.
Broad¬
Subwau Leases. New and Old. to Run 49 Years—Re-Capture.
by the city tc the company of the new subways is for 49 years
1917, but if their completion should be delayed through no
the beginning of the term will be correspondingly
postponed; subject, however, to the city's right of re-capture after 10 years.
The leases of
the original subways as modified expire contemporane¬
ously with the lease of the new Bubways, but are not subject to termination
by notice except ae 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
The lease
from Jan.
1
fault of the company,
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 licensee for the elevated railway extensions 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 pooling 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¬
penses, depreciation, the company's preferential and interest and sinking
fund payments upon the city's and the company's investments in the new
lines.
After these charges are paid the amount of revenue remaining will be
divided equally between the city 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 V. 108, p. 171, 268; V. 107, p. 1100.
The amounts payable to the company out of the revenues of its subways
(compound interest being allowable on any deficiency in any fiscal year)
are to be paid before the city becomes entitled to the interest on its investment under its 1913 subway contract with the company.
The amounts
terest to the company
Eiyable being allowable outanythe revenues of its fiscal year) are(compound
of deficiency in any elevated lines to be paid
on
the elevated lines.
system exceed tne
of the company's annual prior claim, and after all accumulated de¬
before Lie city shares any profit from tne operation of
When the profits from tne operation of the subway
amount
M™N
; 21913 4%
Equitable Trust Co, N Y
Office, 165 B'way. N Y
Central-Un Tr Co, N Y
Aug 1914 coup not paid
Aug 1 1941
Aug 1 1914
Aug 1914 coup not paid
Aug '20-Aug '23 Blair & Co, NY
July '20-Jan *26 First Tr & Sav Bk, Chic
Nov 1
1922
MAN May 1 1920
M
&
N Nov 1 1922
7
6
&
A
F
&
A
F
&
A
J
&
J
F
ig
5 g
6
ductions (with interest thereon) shall have
the profits then remaining are to go to the
been made up to the company,
city until the percentage of the
city's return upon its investment shall equal the percentage of 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.
DATED NOV.
OF ENGINEERS
REPORT
1
1919.—See V. 109, p.
2070.
2167, 2356, 2436.
Report to Legislature, V.110, p. 971.
Deo.
1907
$33,912,800 of the $35,000,000 stock
had
Protective
Bonds and Notes.—J. P. Morgan, Chairman;
23 Wall St.
Deposits not yet (Oct. 1919) asked.
Committee for
William Ewing,
V. 109, p. 1461.
Sec.,
1907 to 1910. 1911. 1912. 1913.
1914 to *17. 1918,
1919.
1906-%
9 yearly.
10^
15
12
20% yrly.
15
2K
1918 reduced div. to 2)4% quar. (10% p. a.) and in Oct. 1918
and Jan. 1919 paid at that rate.
In Feb. 1919 failed to declare any divi¬
dend for April I., See V. 108, p. 878.
DIVS.—
Since
In July
BONDS.—The "First and Refunding Mortgage" of
1913 is limited
to
of which $170,000,000 was underwritten early in 1913$160,893,000 was outstanding and a further $61,249,000 had
been pledged to secure the $33,199,000 Three-Year Secured Convertible
7% notes due in 1921. V. 107, p. 1100.
See full data, V. 94, ik 1507, 1565;
$300,000,000,
In June 1919
ances
below.
.
1913 a first lien on all leasehold and
in (a) the existing subways and elevated lines
(Including power houses, sub-stations, equipment, real estate.&c., owned
directly by the Interborough Co. subject to the city's rights under the lease)
and (6) In the new subway and elevated line extensions and in the author¬
ized additional tracks on the present elevated lines.
Cumulative sinking
fund of not less than 1% yearly of amount out began July 1918, and is to
The
new
bonds
Nov. 1
became
other rights of the company
The official statement to the N. Y. Stock Exchange, dated June 30
was
B'way
exchanged for 200% in 4 H % collateral trust bonds of the Interborough
Metropolitan Co. (whioh see above), secured by the stock exohanged.
April 15 1918. V. 106
p. 1037, 2011.
On July 1 1918 established through service on the Seventh
Ave. subway between Times Sq. and the Battery, and via shuttle througn
the Park PI. 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.
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.
Owns stock of N. Y. & Queens County Ry., 73 miles, and (jointly with
Long Island RR.) the N. Y. & L. I. Traction Co. and Long Island Elec.
Ry., total, 68 miles. V. 80, p. 2621; V. 83, p. 818; V. 86, p. 1100.
NEW
1919 coupon unpaid
been
Through service to Woodlawn Cemetery was begun
the city and this company (V. 94, p. 1507, 1565; V.
and the Brooklyn Rapid Transit Company, providing
April
demand
Jan
—-
198,000
1,400.000
f2.708.000
11.000.000
350,000
465.000
CONTROL.—In
5.00
2.31
Lexington Avenue line
(system)—
4.49
5.55
0.49
4.49
6.04
4.19
Clark Street tunnel
Total
85.29
10.53
10.53
Jerome Avenue
Track1918.
85.29
28.19
25.72
White Plains road
on
ng fun dNov. 1 1919.
note Is sue.
INTERBOROUOH RAPID TRANSIT CO.—(SeeMop.)—Incorporated
25.72
1918,1H
1956
O Apr 1
See text
3,400.000
11,290.500
1879
1880
1,106
May 6 1902 in N. Y. Operates municipal tunnel and elevated
City: also leases Manhattan (Elevated) Ry., which see.
Original sub ways, &c
Queensboro lines
&
Jan 2 '19 2)4%
text
35,000,000 See
Q—J
Treas office. 165
J
&
J Jan 1966
5 g
1,000 &c 160.893.000
New York City
M &
S Sept 1 1921
100 &c
39,199,000
7g
100
--3rrr
1st Mtge gold extended 3 yrs at 7 % call (text) — EQ
Colorado Bridge bonds sinking fund (see text)—Fr
Apr 1
Q—J
A
■
100
Text
6-months notes due June 30 1920—see text
International & Great Northern—
Common stock, see text
x
Places Where Interest and
Dividends are Payable
Last Dividend
(For abbreviations, etc., see notes on first page]
rotir6 fintirp issu.0
In
case
the city shall
exercise Its right of re-capture of any of the new lines,
of operation, the moneys so payable
constructing and equipping same.
after 10 years from commencement
will retire all outst'g bonds Issued for
1918 the company sold $39,400,000
gold notes dated Sept. 1 1918, due
CONVERTIBLE NOTES.—Late in
Three-Year Secured Convertible 7%
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
prior to maturity, in each case plus interest.
They are secured by pledge
of $61,249,000 First & 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 & Ref. bonds at 87)4 % with adjustment of interest.
101
Sinking fund $615,870 annually.
V. 107, p. 1000, 1284,
GENERAL FINANCES.—Tne cost of the
elevated extensions and third-tracking, &c., as
1747. 1837.
Interborough new subways,
originally estimated in 1913,
paid from the proceeds of First & Ref. bonds, of which $160,893,000
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
fare (from 5 cts. to 8 cts.) in spite of strong arguments.
V. 108. p. 78, 171.
The company's application for increased fares was withdrawn in Mar.
1920.
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
was
are
in the hands of the public.
cost of
notes, due June 30 1920.
V. 110, p. 658,
Saleof real estate V. 110, p. 261, 658.
167, 78.
Rejoinder to Mayor's suggestion that company
turn back
property to city, V. 110, p. 1187.
.
The earnings bolow for the years 1916 to 1918 include substantially no
income from the enlarged rapid transit facilities, provided in last five years
at a cost to company of $130,000,000, and to city of $60,000,000.
Official
April 30:
EARNINGS.—10 months ended
Gross
Oper.
1919-20.-$42,589,075
1918-19-*
35.275.195
A_
Other
.
Income. Deductions.
$478,061 $16,624,724
Income.
Oper. Rev.
,
*Nct
Income.
$14,166,846
def.$l,979,817
11,043.263
491,456
14,992,551 def. 3,457,832
provisions of Contract No. 3.
Exclusive of accruals under
REPORT.—Year ending June 30
1919, V. 109, p. 1174.
Years ending June
(See also Int. Cons. Co. above)
Miles of track June 30------
1918-19.
-----
operating revenue
Operating expenses.----Gross
Taxes..------
-
Operating income
Other income
♦Credits, contract No. 3
Total
——-
1917-18.
30
1916-17.
266.29
$43,207,210 $40,497,728 $39,866,146
26,233,326 19,113,336 16,583,293
3,134,157
3,758,583
2.871,385
330.42
276.49
$13,839,727 $17,625,808 $20,411,468
607,302
593,600
559,077
7,500.070
2,508,508
217,296
$21,947,099 $20,727,916 $21,187,841
•A Government
70
RAILROAD COMPANIES
Miles
Date
IFor abbreviations, Ac., tee notes on first pagel)
Road
Bonds
International Rys of Cent Amer—Ordinary shares.
Preferred stock 5% and partic see text—
Dividend
notes
74
1886
Guatemala Central 1st M g ext 15 yrs tol931 USmz
1912
Rys (1st Id on 104 miles; 2d on bal.) Eqx
First mtg i red 102 H
Era.x
Interoceanic Ry of Mex—1st pref stk, 5% non-com
Second preferred stock 4% (V 87, p 1160) non-cum
4% debenture stook sob] to oall at oar £1,150.000
Ordinary stock
Debenture stock 7% "B" subj to oall 120 cum
...
1912
...
....
mmm
.....
......
'
Second debenture stook red at 105 since 1911
Mex E deb stook f 150.000 guar red 105 since 1914
Interstate
RR
(of
Va)—Equip
trust
▲
ser
|37,000 or $$8,000 yearly
.
...
1,000
unction (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 autb gold red par.. Qxc*
■yilpment g $60,000 s-ared par (V.94,p. 1695) Un--X
do
g $60,000 s-a red par (V 99. p 342).. Un
Controlled Company—
Kanawha & West Va—First M g see text
c*
Kansas City Belt—See Kan City Terminal Ry
Years
1918-19.
$2,413,638
6,801,795
1,552,586
1,627,360
801,074
4,200,000
860,915
1,750,000
(5%)
Percent
Balance,
*
surplus
1,000
1,000
1,000
1.000
100
Carried
'07. '08.
Passengers 449 483
Gross
$22 $24
,
....
and
'09.
514
$26
107,
p.
mm
rnmm
1914
m
38
1,000
1.000
1905
ending June 30
1916-17.
1917-18,
$2,375,715
$2,384,538
4,327,177
3,572,515
438,821
1,627,360
1,627*360
578,753
309,597
4,200,000
4,200,000
77000:600
$1,046,267
$2,102,654
(20%)
1384; V. 109,
p.
1175.
Cross Revenues (in Millions), June 30 Years.
'10. *11. '12. '13. '14. '15. '16. '17. '18.
1919.
662 578 607 634 651 647 684 763 771
809
$28 $29 $31 $32 $33 $33 $36 $40 $40)4 $43
DIRECTORS.—August Belmont (Chairman). W. Leon Pepperman,
Guy E. Tripp, Harvey D. Gibson, A. J. Hemphill, Cornelius Vanderbilt,
Berwind, H. M. Fisher, F. de O. Sullivan, M. J. O'Brien,
G. M. P. Murphy, Mortimer N. Buckner, New York; T. De Witt
Ouyler,
Philadelphia.
Pres. A Gen. Mgr., Frank Hedley; V.-P., David W. Ross;
Sec., H. M. Fisher; Treas., John H. Campbell.
Office, 165 B'way, N. Y.
—(V. 110, p. 78, 167, 261, 658, 871, 1187).
Edward J.
★ INTERNATIONAL & OREAT NORTHERN RY.—(See Map Missouri
Pacific.)—Total system Dec. 31 1918, 1,169 lUAIwB# via.:
|lUlf miles,
f La*»
Lines owned—
Miles.'
Lines oumed (concl.)—
Miles.
Long View Jet., Tex., to Houston 232 Magnolia Park Terminal
10
Palestine to Laredo
413 Sundry branches
129
Joint Trackage—
Spring to Ft. Worth, T.AP.Oonn.272
Miles.
...
Houston to East Columbia brch_
50 Galv. Houston A Henderson etc.
Federal Compensation, $1,596,945 (contract signed).
54
ORGANIZATION.—Incorporated
In Texas
on
Aug. 10
1911
and
succeeded the Int. A Great Nor. RR. foreclosed June 13
1911, per plan In
V. 92, p. 1310.
The I. A G. N. Holding Corporation was incorporated In
Virginia In Nov. 1911 with $6,500,000 capital stock, and owns the common
stock of the railway.
See V. 93. p. 1386; V. 95, p. 176.
V. 92,p.l310.
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, with Thornwell
Fay
Assistant.
as
The $1,400,000 6% one-year receiver's certificates, due Nov. 1
1918, wers
reissued and sold to the Director-General of Railroads,
bearing 6% in¬
terest (M. A NO at Central Union Trust Co. of N. Y.—V.
105,p. 2272;
V.
102, p. 1623; V. 100, D. 1510, 1592.
Protective Committee for Cold Notes.—Alexander J. Hemphill,
Chairman;
Wm. C. Cox, Secretary; Guaranty Trust Co,, N. Y„
been
to
Feb
&
Places Where Interest and
Dividends
151927
A
41n6lll3
A
Apr
are
Payable
A
Jan
1 1972
M
Office, 17 Battery PI. NY
Office. 17 Battery PI, NY
1 1931
J
5
A
do
do
May 11972
EmplreTrCo.NY.Lon, Ace
Dec 19 1913 4% London
do
Nov 141912 2%
do
Sj A S15 Sept 15 1950
See text
'11- '12
7
London
Sept 15 1950
8ee text
M AN30 Nov 30 1950
I"
J A D
fig
fig
J
ft
A
Jt
J
A
J July 1 1939
J
&
J July 1 1967
depositary. 90% has
deposited. V. 99. p. 842, 406, 467. 538. 894. 1800. 1451
STOOK.—Of the com. stock, $1,422,000 had been issued June 30
1917,
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.
thenew lBt R#f- M.30-yr.5s ($60,000,000
auth.), $12,150,000 have been pledged as security for the
5% notes due Aug. 11914 and $1 ,600,000 sold for cash to the syndio&te and by It deposited as further
security
for ■aid notes (see above).
Compare V. 94, p. 350; 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.
s*
J
15 Jan
See text
11984
4)4
1,477.000
1921 to'23 Philadelphia
do
'21 to '27
J Jan
O Apr 1
A
A
5 g
A
Guaranty Tr Co, N Y
U S Mtge A Tr Co. N Y
J
July '27-Jan '29 Fidelity Trust Co, Phlla
Erie RR. New York
11929
Merc Trust Co, St Louis
Phil Tr, S Dep A Ins Co
MAN May 11940
O Apr
MAS Sept 1 1925
g
9,000,000 5 in 1919
2,469,000
i e
2.500,000
5 g
300,000
414 g
540,000
4)4 g
1.000
1.000
1890
1907
1912
164
6,125,000
(17*4%)
$1,939,730
city participates, see V.
F
6 g
2
300,000
2,800,000
724,000
650,000
Credits accrued to the company under contract No. 3 and related cer¬
are payable to
the company from future earnings before
Passengers
and Maturity
See text
2.100.000
tificates which
the
Last Dividend
Aug 15'141H%
500.000
1,000
!onesboro Lake City A Eastern—1st M $1,000,000 -X
Sinking fund First A Ref. 5s
Int. Manhattan Ry. 5s
Other interest, &c
Guar. div. Manh. Ry. stock
Int. on 3-year notes
I. R. T. Co. dividends
When
-
6
112,000
525,000
1913
1917
...PhP
1894
Jacksonville Term—1st M gold
31
u
Mp.xo'
1st & Gen M gold gup & I (end) $3,500,000.USc*
1917
Jamestown Franklin « Clearfield—See New York Oent'l RR
Jefferson—1st & 2d Ms ext in '87 A '89 (H'daJe Br)..c
8
1867
1st M g ext 1908 & again 1919 red 105 gup & lFP.o*
1889
37
1905
9(5
1910
oplln Union Sta—1st M gu J'tly red 105 aft 5 yrsxo*
Int. and sinking fund city bonds
Int. on First & Ref. 5s
%
due
PhP
Equip tr ser B due $75,000 yrly call 101
Iowa Central—See Minneapolis A St Louis
Rate
$100 $30,000,000
100
10,000,000
1.247,813
1.000
2.319,000
1.000
3,261.000
£. fr. Ac £1,000,000
Stock
£1,400,000
Stook
£1,000.000
£1,150,000
Stock
£1.700,000
£100
£469.459
£100
£1,300,00
£100
£400.000
1917
Internat
Value
[VOL. 110.
Control.
Payable
Amount
Outstanding
Par
mmm
mmm
—«.
-
APrivate
RAILWAY STOCKS AND BONDS
Contract.
Mar31'20 1H% J. P. Morgan A Co, N Y
Central Trust Co, N
Y
1 1990
Y
Y
Quar.
A
A
J
A
O Apr
A
J
A
J
5g
J
J P Morgan A Co, N
J July 1 1927
J July'20-July '22 Union Trust Co, N
do
J July'20-July '24
do
A
J July 11955
Scran ton
(Pa)
Trust Co
Directors.—Frank J. Gould (Chairman) and Klngdon Gould, New York;
Lancaster Williams, Baltimore, and others.
Office. Houston. Tex.
p. 970, 1089).
R.
—(V. 110,
INTERNATIONAL
RAILWAYS
OF
CENTRAL AMERICA.-Owns
558,768 miles of 3-ft. gauge railway; main line and branches.
New line to
be built from Zacapa in Guatemala to Santa Ana in San
Salvador, V. 110,
1415.
p.
Incorporated In New Jersey June 8 1904 as Guatemala Ry., name being
changed In April 1912 and Guatemala Central RR. (V. 79, p. 902, 903)
taken over.
For concessions and subsidy, see Issue for Feb.
1918. Stock authorized, as increased from $7,500,000 in
April 1912, $30,000,000
common and $10,000,000 5%
pref.; par $100.
Pref. Is entitled to share
equally In all dividends paid In any year after 5% has been paid on both
stocks.
V, 95, p. 544.
First quar. dlv. on pref., 1)4%. paid Aug. 15 1912:
Nov. lfi,
1#%; 1913, 6%; 1914. Feb., May A Aug. 15, 1)4 %. On Feb. 1$
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. 151927.
V. 107. p. 398.
In March 1919 arrangements were made to complete
of pref. shares in
delivery to holders
in respect of
1917, incl., distribution abroad
conditions.
V. 108, p. 1060.
Europe of the 6% 10-year notes issued in 1917
dividends due Nov.
15
1914 to Feb.
having been prevented by
war
15
BONDS.—For 60-year gold
5s of 1912 (£4,500,000 auth. issue, whloh
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 lntersst at 2% the first
year, 3% the 2d year. 4% the
3d year and 5% thereafter; $239,000 purchased and In treas. Dec. 31 1917.
The $2,500,000 Guatemala Central 1st M. 6s due Apr. 1 1916 were ex¬
may
tended till 1931: $181,000 purch. and in treas. Doc. 31 1918
REPORT.—Report for cal. year 1918, In V. 109, p. 1456, showed:
Gross, $2,474,653; net, after taxes, $1,084,631: other income, $55,486; In¬
terest, discounts, Ac., $625,750; balance, surplus, $514,367.
OFFICERS.—Minor O. Keith, New York. President. Pres. Northern
Rys. Co. of Costa Rica. Vlce-Pres. United Fruit Co.; Henry M. Keith.
N. Y.. Vlce-Pres.: Edward 8. Hyde. Sec. A Treas.; H. H. Hanson.
Oarapt.
N. Y. office. 17 Battery Place.—(V. 109. p. 1456).
INTEROCEANIC RY. OF MEXICO, LTD.—See page 138
★ INTERSTATE RR. (OF VA.)—See page 139.
★ JACKSONVILLE TERMINAL
RY.—Owns union passenger depots,
locomotives, &o., at Jacksonville, Fla., Including 31.16 miles of track
by Atl. Coast Line RR., Seaboard Air Line, Florida East Coast
Ry., Southern Ry. and Georgia Sou. A Florida Ry., which own eDtlre
stock ($375,200).
A new station costing, it is understood, about $2,000,000
will be opened in October 1919.
The Atl. Coast Line, Seaboard Air line
6
used
and Fla. East Coast each guarantee )4 and the Southern Ry. and Ga. So. &
Fla. each H of the Int. under the rentals and meet
expenses on wheelagc
basis, the At!. Coast Line, Seaboard Air Line and Fla. East Coast Ry. guar¬
anteeing by endorsement the prln. and Int. of the 1st Mtge. bonds ana also
the bonds of 1917 below described.
Dec. 31 1917, $352,349.
The
1st
A
Gen.
Loans and bills payable outstanding
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. 71, p. 135.)
★ JEFFERSON RR.—Owns Lanesboro.fPa./to Carbondale, Pa., 37 miles
louble track; branoh. West Hawley, Pa., to Honesdale, Pa., 8 miles. Leased
in 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 5%
bonds due in 1919 were extended 10 years at 5)4%. See Y. 108,
p. 1165.
AJONESBORO
LAKE
CITY
&
EASTERN
RR.—See page
137.
★ JOPLIN UNION DEPOT CO.—Owns union freight and passenger station
26 acres at Joplln, Mo., oompleted In 1911, used by the AtohisonTppeka
A Santa Fe, Kansas
City Southern, Missouri Kansas A Texas and Missouri
on
(M. & N-), during
rate of 7% p. a.;
period of extension to be paid
on
the assented bonds at
(3) the assented bonds to be redeemable at any time in
whole only on 30 days' notice if during the first
year, at 101X and int.,
the second year at 100H and int., the first six months of
the third
year at
100>4 and 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.
Negotiations were pending in May 1920 for the extension for 3 years of
the
Colorado Bridge 7% bonds.
Jan.
EARNINGS.—
Gross
Net
1 -Mar. 31
1920.
1919.
Jan. 1-Dec. 31
1919.
1918.
$4,306,792 $3,168,330 $14,410,300 $13,476,888
def. 112,440def.392,029 def.779,286
1,833,885
REPORT.—Report for year 1918, in V. 109, p. 1526.
Calendar Years
1918.
Gross earnings
return
1917.
$1,394,946
3,417
Gross Income
Rents, Ac...
1,058,815
646,627
891.044
$1,398,363
Other income
$4,636,182
al,557.332
$3,206,067
1,139,136
al,502,891
$4,145,368
1,291,081
al ,531,681
$1,697,139
$564,040
$1,322,606
J 1,763,198/
\
.
Interest deductions.
Balance, surplus
June 30 Yr.
1916.
$13,476,888 $12,588,224 $10,766,945 $11,819,828
$1,440,353
$3,577,367
$2,559,440
$3,254,324
Net, after taxes
xStandard
1917.
def.$364,835
1,381,711
Certified by I.-S.O. Com., but contract not
yet signed.
Includes the unpaid annual interest. $550,000 and
$55,400
the 3-year 5% gold notes and First Ref.
Mtge. 5s, and 'also the (unpai
annual interest, in 1917 $95,619. on the accumulations
of overdue Interest
(amounting Dec. 31 1917 to $2,545,708) on these Issues, making the total
x
-
a
on
¥?P£id.^.^lPduded» 5701,019.
19iOf $3,274,505.
627; V. 107,
p.
sold.
802.)
stock
auth., $750,000.—(V.
90,
p.
502,
railway
Stock, $400,000. owned by Ohes. A Ohio, which op¬
Bonds, see table and V. 91, p. 1629.
Year 1915-16,
gross, $46,629; net inc., $40,745: Int. A taxes. $30,574; bal., $10,171
and general traffic.
erates
property.
★ KANAWHA & MICHIGAN RY .—(See Map N. Y. Central R.R.)—
O., to Gauley, on Ches. A Ohio, 170 miles, less 18 miles,
Pomeroy to GaUipolls. and 1 milef-Athens to Arm!tage, where Hocking
Valley Ry. tracks are used.
Also owns branch of 11 miles leased to Zanea-
Owns Corning,
ville A Western
Ry.
In 1917 arranged to loan $300,000 to Gauley A East¬
Ry. (a subsidiary).
In 1918 built from Gauley Bridge, W. Va., to
Belva, 5.60 miles. V. 106. p. 2221; V. 105, p. 1522.
To Dec. 31 1917 had purchased $1,349,200 of the $1,359,600 capital stock
and in Oct. 1916 had agreed to assume the $1,477,000 bonds and car trust
ctfs. of Kan. A W. Va. RR., a line extending from
Charleston, W., Va., to
Blakely, 33 m., with branch 4 m. V. 106, p. 2221; V. 103, p. 844; V, 104.
p. 2005.
HISTORY. Ao.—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 capital etock.
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.
(additional). $45,260.
ern
DIVIDENDS—
1911.
1912.
1913.
1914 fo Mar. 31 1920)
6)4
5
6
5 p. a. (1)4 Q.-M. 31
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Percent
Jan.
EARNINGS.—
$14,410,300; net. def. $1,462,099; interest, $1,521,017; bal., def. $2,983,117.
gross,
Total
★ KANAWHA BRIDGE & TERMINAL CO.—Owns bridge across the Great
Kanawha River near Charleston, W. Va., used for railway, street
Total matured int. unpaid Dec. 31
income account, <cal. year 1919:
A
Nort^ Arkansas, whloh jointly own
the $40,000 stook and Jointly
and severally guarantee the bonds, prln. and Int.
Of the bonds ($750,060
auth.), $650,000
Gross
Net
1 -Mar. 31
1920.
$1,075,067
55,570
1919.
$745,119
def.174,838
Jan.
1-Dec. 31
1919.
$4,324,755
262,400
1918.
$5,896,134
1,689,015
Mat, 1920.] *gSSST*
RAILROAD
RAILWAY STOCKS AND BONDS
Miles
Date
Par
Amount
Rate
When
Last
Dividend
Road
COMPANIES
iFor abbreviations, Ac., see notes on first page]
Bonds
Value
Outstanding
%
Payable
and
Maturity
162
1885
$1,000
$3,274,000
1.085
Kansas City Clinton & Spring—1st M g guar__NB.xc
Kansas City Fort Scott & Memphis Ry—
Ref M $60,000,000 gold guar p & 1 end.Ba.xo&r
1901
1,000 Ao
1,000
1,000
1,000
1.000
25.941.000
390,000
13,736.000
1.606,000
b2,429.000
3,323.390
110,000
5,629.500
1,000,000
300,000
508.000
xo
26
1882
Kansas City Ft Soott A Memphis RR oons MNBjco*
Current River RR 1st M $20,000 p m guar__.NBx
Kans Cy A M Ry A Bdge 1st M g a t drawn at HOxo*
715
1888
82
1887
3
M $4,500,000 our—OB.xo
No fixed int coupons__OB.xc
285
1889
1894
1894
1894
1902
1907
Kansas A Missouri RR first mortgage
Kans Cy Mem A Birm gen
Income
non-cum.
285
500 Ao
500 Ao
285
600 Ao
stamped fixed interest redeemable text.x
39
1,000
102 H guar p A I end-OBx
30
1,000
Kan City & Memphis—Ark Old A W 1st M g.Usmx
56
1911
K C A M mtge g $18,000 p m red 107 H sf_ JnSt.xo*
1.000
Kansas City Memphis & Birmingham—See Kansa sCity P84 Memphis
Mem phis
K C Memphis Ry & Bridge Co—See Fort Scott A
100
Kansas City Mexico & Orient—Stock see text
1914
Two-year gold notes $6,000,000 red par
Col.c
100
Kansas City Outer Belt & Elec—Stock (half 4% pref)
"8 1903
1st M $3,000,000 g1,000
Kansas City & Pacific—See Missouri Kansas & Texas Ry be low.
do
Birm Belt 1st M gold red
Kansas City St Joseph & Council Bluffs—See Chicago Burlln gton A
1897
Kansas City Shrevep & Gulf Term—1st M red 105 -.z
100
Kansas City Southern—Common stock $30,000,000-100
Prelerred stock 4% non-cum $21,000,000
I§66 1,000 Ac
First mortgage $30,000,000 gold--.Ba.xcAr
1909 1.000 &c
Ref andlmpt M $21,000,000 gold red 105-xc*Ar.N
1912
1,000
Equip notes n ser D due $62,000 s-a red par-.Nx
In
Unking
year ending Dec. 31 1918, see V. 109, p. 614.
Oross.
Net.
Gross Inc. Int., Ac. Divs.(6%) Balance,
$5,896,134 $1,461,081 *$1,346,769 $441,551 $450,000 $455,217
3,606,991
852,466
1,533,740
592,988
450,000
708,777
3,527.861
980,859
1,533,021
503,871
450,000
747,365
Year—
★ KANSAS CITY CLINTON
Kan.
to Ash
Grove
from
154 miles; Raymore Jet. to Pleasant
Mo., 8 m.; total, 162 miles. V. 107, p. 2476. Stock, $1,775,400.
Bonds were guaranteed by the Kan. City Ft. Scott & Mem. RR. (old co.)
The interest that accumulated during the St. Louis A San Francisco re¬
Hill,
ceivership
that time.
was ail paid up in Dec. 1916 and coupons
See K. O. Ft. Scott A Memphis Ry. below.
A
O Oot
11925
Boston, Old Colony Tr Oo
O Oot
11936
Company. 120 Broadway
F
!g
&
A
A
A Aug 1 1922
Old Colony Tr Co, Boston
Bank Trust, NY; A Boat
MAN May 11928
A
O Oot 1 1927
A
A
O Oct
1 1929
6
A
5
I'
regularly met since
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.)
5
5
fg
6 g
J
J Jan
fig
do
do
do
Bankers Trust Co
MAN May 11961
A
Colony Tr Co, Boston
do
MAS Moh 11934
A
A
O Oot
11922
11947
July 1915 coup not paid
Nov 1914 coup not paid
id
301916
Prln. A Int. over-due.
4 g
A
A
O
Apr
11953
Oot
4
F
A
A Aug
11927
Treas Off,
A
fig
v.
30 Apr
t. c.
1,788,000
150,000
1911
coup
last paid
Kan City, Me
29,959.900
21,000,000 4 in 1919
Q—J
A
A
O
30,000,000
J
A
J
5 g
18.000.00C
J A D 15
5 g
620,000
Apr 15 1920 1% Checks mailed
New York Trust Co, N Y
Apr 1 1950
do
do
Apr 11950
June'19-Dec '24 Blair A Co. New York
ORGANIZATION.—In April 1917 W. T. Kemper of Kansas 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. Administration was operat¬
ing the American lines and W. T. Kemper and S. W. Rider as receivers were
operating (In part intermittently) the 230 miles of road in Mexico.
Co.)—Lord Monson (Chairman); Columbia
Mills, Currie A Co., London, depositaries.
hands of the public, $19,545,000 had been de¬
V. 94, p. 767, 911, 1566; V. 97, p. 443; V. 98. pe
Of the $21,409,000 in the
posited in June 1914.
763. 1244, 1767.
Note Committee —Chairman J. N. Wallace and H. Bronner, N. Y.
Bond application, V. 110, p.
1973.
Gross
controlling Interest in stock of the Kansas City Memphis A Birm. RR.
Net
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
capital stock (V. 103, p. 2340.)
def.151,745
Annual report, Ac., V. 101, p.
$1,322,209
def.604,480
$226,418
def.195,287
$401,102
_
Jan. 1 -Dec. 31
1919.
1918.
1-Mar. 31
1919.
1920.
EARNINGS—
Sity. Mo., to Memphis, Tenn.. and MEMPHIS 922 miles. AlsoKansas
KANSAS CITY FORT SCOTT & branches. RY.—Operates has a
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, 1,215 miles.
The K. O. Memphis A Birmingham was leased Dec. 17 1903 for 99 years
from Jan. 1 1904. out terminable upon 6 months' notice from either party;
City;
Barney ACo.
GoebeL W. S,
McLucas and Clifford Histed 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 Dec. 81915 failed of adoption. V. 101, p. 2144; V. 102, p. 153.713.
Jozach Z. Miller, Kansas City; Henry Sanderson, of O. D.
of N. Y.; William J. Gray, Detroit; Herbert F. Hall, P. W.
Jan.
rental Is net earnings, after payment
Old
Bank Tr Co. N Y; A Bost
Old Colony Trust Oo
MAS Moh 1 1934
Mch 11934
Sept.
Committee for First M. 4s (old
Trust Co., N. Y., and Glyn,
RY.—Owns
& SPRINGFIELD
Mo.
Payable
Federal Compensation.—$150,000 yrly. during Fed. control. V.108,p.1610.
♦Including $1,295,141 in 1918 accrued compenntion.
Pres., W. K. Vanderbilfc Jr.—(V. 110, p. 970.)
Olathe
are
funds
REPORT.—Report for
1918
1917
1916—
Dividends
A
fig
5.640.200
5,000.000
Qam$6
alive
Places Where Interest and
20.000,000
-
b Excludes $571,000 held
71
—Years end. Dec. 31
1917.
1918.
Gross earnings
Net after rents
—See V.
101, p.
$1,188,656
def.325,000
1711, 1668, 1886; Y. 102, p. 153.
$2,448,332
def$695,848
1916.
$2,591,323
net$82,218
$2,526,122
def$45,854
June 30 Yr.
1915.
$2,49,599
—
1711
OFFICERS.—William T. Kemper of Kansas City is (a) receiver of the
Kansas and Oklahoma lines. 272.16 mllee; (b) President of the Texas line,
465.71 miles, and (c) receiver Jointly with S. W. Rider of the Mexican lines,
ORGANIZATION.—V. 72. p. 1237.
See V. 72. p. 438, 532, 675, 988
The St.L. & San Fran. RR. owned the entire stock and leased the road,guar¬
226.20 miles.
anteeing the bonds of 1901, prln. and Int., and 4% onpref. stook trust oerts.
p.
The
reorganization by which the St. Louis-San Francisco Ry. Co. waa
For other officers and directors see V. 107, p. 1579.—(V. 107,
905. 1004, 1579; V. 108, p. 268, 1610.)
KANSAS CITY NORTHWESTERN
RY.—(Y. 110, p. 1089.)
A KANSAS CITY OUTER BELT & ELECTRIC RR.—Incorp.
A
buy
equipment and deal with obliga¬
and renew bonds un¬
new bonds of this
company, or of the new Frisco Company, secured on this system, or
any
part thereof. In priority to the existing lease of this system and to any
lien of the new Frisco mortgages on this system, but the aggregate prior
mtge. debt on this system must not at any time exceed $75,000,000.
Memphis Railway system and
tions of the system, and for these purposes to Issue
der any existing mortgage of this system, and to Issue
STOCK.—Common, authorized, $45,000,000; outstanding, $16,660,000
its mortgage
the pref. stock.
The remainder or the
$15,000,000 pref. shares (par $100) Is deposited In escrow, and against,
ft are outstanding trust certificates of the old St. L. A San F. RR., the
latter haying 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 (Y. 72, p. 1238).
In the
Frisco reorganization In 1916 the holders of $7,907,200 or the trust certifi¬
all owned by St. Louis-San Francisco Ry. and pledged under
of 1916 along with $7,907,200 of
(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.)
cates
BONDS.—Of the Ref. bonds of 1901 ($60,000,000).
$25,835,000 were out¬
standing Dec.31 '18, $106,000 were In treasury, $20,324,270 were reserved
for exchange against the face amount of underlying bonds and remaining
$7,734,730,
are
as
reserved
well
for
bonds not used or required for refunding purposes,
for additional lines and extensions, at not exceeding
as any
issue
$22,500 per mile thereof. As to guaranty, see "organization," above.
V. 75. p. 853.
See Y. 87. p. 414; V. 91. p. 38, 154; V. 92, p. 1311; V. 93
p. 45; V. 94. p. 279.
In 1918 the K. G. Ft. Soott A Mem. Ry. had guaranteed the Int. on all
except
$293,500
of
the
K. 0. Mem. & Birm. Income bonds.
$0,322,780
On May 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 Y. 78. p. 1549; V. 99, p. 1597; V. 102, p. 800.
Birmingham Belt bonds are guaranteed, principal and Interest, Jointly by
Kansas City Memphis As Birm. and St. L. A San Fran.
V. 75, D. 1147.
A KANSAS CITY & MEMPHIS RY.—Rogers to Siloam Springs. Ark., 30
miles; Freeman to Monte Ne, 6 m.; Cave Spring to Fayettevilie, Ark., 20
m.
Receiver's certificates, $80,000 (6% 3-year, dated Jan. 1 1916). V. 102,
p. 800.
Receiver R. C. Bright of Little Rock.
In Oct. 1918 was bid In at
foreclosure sale for $275,000 by the Quinn committee, below mentioned.
V. 107, p. 1579, 1670.
The road in 1919 was scrapped.
The position of
the Kansas City & Memphis bonds of 1911 depends on certain litigation
which is pending in the courts. V. 109, p. 1273.
Committee for Ark. Okla. A West. 1st 6s.—Francis X. Quinn, Chairman;
Byron A.
Milner, Secretary; Bead Estate Trust Co., Phlla., depositary.
See F. J. Lisman & Co., N. Y.
8ee V. 92.
Committee for 5s of 1911.
p. 881. 1109: V. 102, D. 800.
EARNINGS.—Year ending June 30 1916, gross, $81,081; net,
Other income, $15; int., taxes, Ac.. $22,643; bal., def., $19,502.
N. Y. office, 30 Broad St.—(V. 107, p. 1670; V. 109, p. 1273.)
$3,126;
KANSAS
CITY MEXICO
& ORIENT
.
miles)
Mochls. Mex., to Mochls Junction. Mex
62.23
.
_
-
136.51
2.92
In Nov. 1912 $100,000 receivers certifi¬
Bigger was appointed receiver.
cates were authorized, of which
$91,000 were Issued.
Foreclosure sale set
postponed Indefinitely, upset price, $131,000.
V.106, p. 2757; V. 108. p. 480;
109, p. 477.
Bondholder*' committee John W. Flatten, Chairman; Calvert Brewer.
Sec.; U. S. Mtge. A Trust Co.. depositary.
V. 102. p. 713; V. 103, p. 2340.
Y. 104, p. 2641; V. 100, p. 2757; V. 108, p. 480.
for
June
18 1918
but
★ KANSAS CITY SHREVEPORT A GULF TERMINAL CO.—Ownsunion
uepot at Shreveport, La , Including 1,16 miles of yard and terminal track.
Stook. $150,000, all owned by Kansas City Southern Ry.
Bonds, Pioneer
Trust Co., Kansas City, trustee.
Office, Kansas City, Mo.
★ KANSAS CITY SOUTHERN RY.—(See Map.)—Operates a line extend¬
ing from Kansas City, Mo., to Port Arthur, Tex., thenoe by Its ship canal.
7 m., to deep water on Gulf of Mexico, with branohes and extensive term¬
inals used by various roads entering Kansas City.
Total mileage 836, viz.
Lines Owned—
Miles,
12 Branches to
Fort Smith, De
Qulnoy, La., etc
46
765 Trackage—To Gr. View. Mo., etc. 25
Miles.
Lines Owned—
Kansas City, Mo., to Belt Junc._
View, Mo., to Port Ar-
Grand
thur, Texas
Also owns entire $650,000 each of stook and bonds of Arkansas Western
Ry., Waldron to Heavener, Ark., 32 miles, operated separately; also con¬
trols K. C. Shreve. & Gulf Terminal Co.
V. 83. p. 38. 492.
Pitts. & Gulf RR., fore¬
V. 73, p. 1356: V. 74, p. 94,
88, p. 375.
"ADVANCES" AND "STANDARD RETURN." Ac.—See page 5.
Gov't contract not executed to Sept.
30 1919.
V. 107, p. 1344; V,
ORGANIZATION.—A reorganization of Kan. C
closed In 1900 per plan In V. 69, p. 1012,1062.
V. 80. p. 1971; Y. 81. p. 559; V. 84. p. 1366; V.
^^afiiatfonln 1916,PV.
Valuation case, V. 110, p. 1042.
104, p. 73, 452.
SECURITIES.—As to the $21,000,000
V. 88, p. 1128, 1253, 14371 ~
"
"Ref.andImp." bonds of 1909.
322,
see
on on
395,401, 795; V. 95, p. 1472;
Kansas City Suburban Belt
paid July 1 1907 out of
Apr. 15 1920. 4% p. a. (Q.-J.).
DIVIDENDS —First div. on pref. stock. 4%.
earns,
for 1906-07; Oct., 1%; 1908 to
Equipment trusts issued to Director-General
to this company.
See articled
1920.
$4,389,234
EARNINGS—
.-LTH
Gross
Netv:::::::::::::::-.
Operating expenses
/
$4,167,970
;
bonds, &c—
Miscellaneous
Dividend
on
Balance,
pref. stock (4%)
surplus
1918.
...—
$5,341,951
$4,506,624
$3,536,228
$3,794,408
return"
Taxes, Ac
on
Jan. x.Dee. 31
1919.
$16,531,528 $13,547,487 $11,289,324
12.363,558
8,205,536
6,782,700
-
Total net income
Interest
1919.
$3,510,732 $15,111,997 $15,250,406
358,097
2,966,042
3,725,405
1918, V. 109, p. 575, 589.
1918.
1917.
1916.
REPORT.—For calendar year
Calendar Years—
"Standard
for rolling stock allocated
sos^
Total gross receipts
Net earnings
RR.—Road.
Owned), Miles
Wichita, Kan., to Alpine, Tex. (except traokage St. Louis & San
Francisco RR., Foley to Ewlng, Okla., 12.73 miles
737.87
Marquez. Mex., to Tobalaopa
86.77
Mlnaca to Sanchez, Mex. (74.28 m.); El Fuerte to Topolobampo,
★ (THE)
Owned (incl. K. O. M. A O. Ry. of Texas, 478 m.. Securities
July 18
1902 in Kansas to construct a double-track belt line; uncompleted in 1918.
V. 75. p. 184; V. 76, p. 331; V. 80, p. 871.
On Oct. 31 1912 Thomas A.
$5,647,047
$4,798,195
$272,304
1851,788
$584,959
1,841,592
005,580
840,000
1,840,784
324,332
840,000
1,831,080
359.515
840,000
$234,931
$1,784,143
$1,182,642
[Vol. 110.
RAILWAY STOCKS AND BONDS
72
/
-7
-
MAP OF THE
foieoWcod*
rtllc
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<TMUa««.
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MAY, 1920.j *g£™
RAILROAD
RAILWAY STOCKS AND BONDS
COMPANIES
[For abbreviations, &c„
see notes on
Miles
Date
Road
first page)
Kansas City Term Ry—Stock auth $50.000,000
1st M red as a whole on or aft Jan 1930 at 105 A Int.*
Secured gold notes $2,500,000 call 101
CeC,c»
Sec gold notes $9,850,000 call at 101 & intCC.vc*Ar
1910
1911
Keokuk & Ham Bondholders Co—Stock
Secured notes callable any lnt aate
Payable
Ac
10
1915
Kewaunee Green Bay & Western—First mtge
F.xc
Knoxville & Ohio—See Southern Ry.
La Crosse & S E Ry—1st M $1,000,000 g red 105
z
Lackaw RR of N J—Stkauth $12,000,000 gu 4% div
L E Frank & Clarion RR—1st M g call 1918 105-FP
Lake Erie & Detroit River—See Pere Marquette RR.
37
1891
1,000
41
1904
1,000
"31
1913
"""Y.656
Total Issued $50,000,000, of which
300,000
e
notes
DIRECTORS.—Chairman. L. F. Loree; John F. Harris, J. A. Blair,
W. T. Rosen, Andrew J. Miller, W. G. Street, W. H.
Williams, Arthur
Turnbull, Samuel McRoberts, B. S. Guinness and Joseph F. Stillman of
N. Y.; John J. Mitchell of Chicago; Edward F.
Swinney, Geo. M. Myers,
Kansas City, Mo.
J. A. Edson is Pres. and H. Visscher is Treas.
Office,
25 Broad St., N. Y.—(V. 110, p. 970, 1089, 1289.)
★ KANSAS CITY TERMINAL RY.—Owns 24 miles of road, with
passen-
Ser depot and proprietary cos., viz.: terminals I. & Pac., City, Mo.Topeka
rolled by 12 freight and passenger Chic. R. at Kansas Atchison
ConA Santa
Fe, Chic. Mllw. A St. Paul, Chlo. A Alton, St. Louis A San Fran,,
Union Pacific, Wabash. Chic. Burl. A Qulncy, Mo. Pac.. Missouri Ran. A
Tex., Kan. City Southern and Chic. Gt. Western, which will pay equally
any excess of fixed charges.
V. 89, p. 1671.
Has 154 miles now built
of main and industrial railroad tracks, 6 local freight
stations, passenger,
freight and switching yards, Ac., and union passenger station.
Y. 107,
p.2008: V. 90 p 627, 630; V. 91, p. 1386; V 98. p. 1244: V. 99. p. 1130.
On Feb. 15 1919 put in
operation double-decked viaduct over Kaw
Valley bottoms to connect with (1) Union Pac. and Ch. R. I. & P. Rys,
(2) Mo. Pac. and Oh. Grt. West.
V. 103. p. 1980; V. 106. p. 1126.
Of the 1st 4s ($50,000,000 auth.), $16,908,000 are pledged to secure notes;
V. 90, p. 627; V. 91, p. 1386; V. 92, p. 395; V. 93, p. 164; V. 96.
p. 135, 202;
V. 98, p. 1244,1316; V. 100. p. 73$; V. 106, p. 296; V. 107, p. 2008.
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**%, $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
at any time on 30 days' notice at 101 and int.
In July 1916 there were sold
$2,500,000 5-year 4**% notes secured by $3,125,000 1st M. 4s, to retire
$2,500,000 Kansas City Belt Ry 1st 6s, clue July 1 1916.
V. 102. p 2254.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Jan.
EARNINGS.—
1920.
1 -Mar.
31
1919.
Jan
1 -Dec. 31
1919.
1918.
Gross
$371,756
$309,301
$1,388,293
$1,247,829
def.24,663
15,632
219,690
134,799
Pres., Wm. M. Corbett; Sec., H. F. Taylor; Treas., E. F. Swinney.—
(V. 110, p. 871, 970, 1290.)
Net
A KANSAS CITY VIADUCT & TERMINAL RY.—Company owns
an
unoperated elevated railway and highway viaduct from Bluff and 6th Sts.,
Kansas City, Mo., to Minnesota Ave. and 4th St., Kansas City, Kan.,
with
branch
viaduct
to
lnterlylng railroad
and
manufacturing
districts.
Main structure completed 1907, 1.6 miles.
V.82,p. 160; V. 84, p. 271,931,
Was sold under foreclosure 1st M. May 1 1917.
V. 104. p. 1263.
In Nov. 1918 the municipalities of Kansas City, Mo., and Kansas City.
Kan., proposed to purchase the property for $1,750,000, subject to rati¬
fication by popular vote.
V. 108. p. 878.
Protective Committee.—In July 1917 over 98% of the 1st 4l*s and lnoome
bonds had been deposited with a committee consisting of Richard O.Storey
of Boston, Chairman; Equitable Trust Co. of N. Y., depositary; W. O.
Cox. Guar. Trust Co.. Sec.—(V. 107. p. 1920; V. 108, p. 878.)
★ KENTUCKY
fit
INDIANA TERMINAL RR.—Owns 2-track steel
bridge over Ohio River at Louisville and 16.44 miles main track and
47.66 mllee yard tracks and sidings in and about Louisville. Sou. Ry., Balti¬
more A Ohio and Chic. Ind. A Loulsv. own the $75,000 capital stock, and
under
lease
from
Jan.
3
1911, pay monthly. In proportion to cars
handled, any deficit in operations, rentals, taxes and Int.
Bonds, £2,000,000 auth. Issue, of whlcn £1,351.000 guar, by the three proprietary cos.,
were Issued to retire the $2,136,600 old bonds and for new construction; re¬
new
mainder reserved for future purposes.
No government contract for opera¬
tion signed as yet. V. 92, p. 187; V. 91, p. 589, 214, 38; V. 92, p. 201,1032;
V. 93, p. 469; V. 95. p. 1403; V. 102, p. 437.
Pres., Geo. H. Campbell; V.-P., A. P. Humphrey; Treas., H. D. Ormsby;
Sec. & Aud., E. K. Scott —(V. 97, p. 521; Y. 102, p. 437; V. 105, p.
1898;
V. 110, p. 1089.)
★ KEOKUK
A
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 A Pacific Ry., the lessee paying 25% of the gross earnings and
guaranteeing the Int. (not the prln.) on the bonds.
During the receiver¬
ship of the O. R. 1. A Pac. Ry. from July 1 1915 to June 24 1917, the
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
1918 Ch. R. Isld. A P. Ry. Co. owned $1,487,900 common and $575,100
pref.
Pref. entitled to share with common stock In any excess over 8%.
V. 99 p. 49. 969; V. 104. p. 1801.
Pref. divs. were resumed in 1919, 7%,
paid March 1; paid 3**% Aug. 4 1919 and 2% Mar. 10 1920.
LATE DIV.—
On
\ '08. '09. 1910-12. '13. '14. '15. 1916-18. *19.
preferred...-%)
1920.
IX
1
2** yrly. 3** 3X 2-X None
10** Mar., 2
1917, gross, $344,073; net. $106,938; Int. on bonds
$137,500; charges, $86,940; bal.. def.. $117,502.
Officers.—W. L. Bell, Pres.; Carl Nvqulst, V.-P.. Treas. A Asst
8ec.:
F. W. Sargent. Sec.—(V. 105, p. 67. 1818: V. 108, p. 784.)
Year ended Dec. 31
A KEOKUK Sc HAMILTON BONDHOLDERS' CO.
Incorporated In May 1914 with $100,000 authorized stock, of which only
a nominal amount to be issued at present, to acquire (per plan
V. 99. p.
1920, the bonds of the Keokuk A Hamilton Bridge Co., which owns bridge
across Mississippi River at Keokuk. Ia.. used by Toledo Peoria A 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 X %
per annum, were exchanged $ for $ for the
These debentures have since been retired by an issue
Holders of Bridge bonds subscribed for an Issue
of $400,000 of 30-yr. 6% secured notes secured by the bonds, the proceeds of
which are being used to rebuild the bridge.
The Income of the new co. is to be applied, first, to
payment of interest
on the 6% secured notes; second, to a special fund on the stock, and third.
as
J
J Jan
1 1960
Places Where Interest and
Dividends are Payable
N Y Boston A Chicago
York and Chicago
New
New
Sept 1 1934
J Jan
A
See
text Mar
A
A
O Oct
A
A
see
1 1961
York and
Chicago
J
A
A
A
O Oct
2
First Nat Bank. N Y
Q—J
Apr
Office? 40*Wall St? N"f "*
11944
1
La Crosse, Wise
1920 1% Del Lack A Western RR
U 8 Mtge A Tr Co, N Y
J
A
4*4 g J
A
J July 11965
J
A
J Jan 15 1908
J Jan
11937
5g
D Dec
text
J P MA Co, N YA
10 1920
1 1923
O 1945
D June 11921
4
970,000
of
Last Dividend
and Maturity
May-No v 1922
5 g
10,750,000
$16,908,000 pie dged t osecur
A
r~A"~j
4*4
Lake Erie & Pittsburg—Stock rental guaranty
100
4.300,000
First mtge $15,000,000 g guar unissued..G.xc*Ar*
I
28 1915
8ee text
1.000 Ac
Lake Erie & Western—Common stock $20,000 p m__
710
100
11,840,000
Preferred stock 6% (not cum) ($20,000 per mile)..
710
100
11,840,000
1st M ($10,000 per mile, see V 40, P 45) g
710 1887
1,000
Ce.xc*
7,250,000
2d M (V 54, p 444) $3,625,000 ($5,000 p m) gCe.xc«
710 1891
1.000 > 3,625,000
Equip trust due $110,000 yrly begin Jan 1 1918-CP
1917
I 660,000
Lake Shore & Michigan Southern—See New York
Centr al RR.
Lake Super A Ishp—lstM $70,000 due yrly red 101 xc*
35 1911
too Ac
622,000
Lake Tahoe Ry & Tr Co—1st M g $500,000 s f beg 1905
17 1901
1,000
500.000
Lansing Manufacturers—1st M serial Interest rental..
8 1905
1,000
60,000
Laramie Hahn s Peak fic Pacific Ry—See Colorado Wyom ing A Eastern
Ry
Leavenworth Terminal Ry & Bridge—1st M g s f.Cex
3 1893
1,000
560,000
x
J
6sg
£1,351,000
text
1,524,600 See
2,750.000
5
1,000,000
6
384,800
5
200,000
100
100
•
73
»■
A
J July 1 1921
4*4 g J
MAN15 Nov 15 1923
3,302.000
£100
1878
4 g
2,500,000
9,850.000
1,115,753
1.000
162
1162
When
%
1.000
1905
"
Rate
1.000 A
1918
c*
First mortgage interest guaranteed C R I A P
Amount
Outstanding
$2,200,000
$l,000&c x33,092.000
1910
Purchase Money Mortgage notes
Kansas City Viaduct & Term—1st M g s £ (text) c'&i
Ken & Ind. Term RR—1st M guar (see text) G.xc* Ar
Keokuk & Des Moines—Preferred stock
Par
Value
Bonds
.
1 1953
5
------
J
A
Treasurer's
N
Y
Chase National Bk N Y
do
do
J
A
J July 11941
J
5g
4*4
office,
1% Office, Gr CentTer, N Y
A
J Jan 1 1921 to'27
F
A
A Feb
A
A
O Oct
5 g
J
A
'21-Feb '31 Cit Sav A Tr Co, Cleve
Merc Trust Co, San Fran
1 1931
J July 1 1920-30
Union Trust Co, Detroit
5g
J
A
J Jan
62
1 1923
Central Union Trust, NY
•
Sept. 30 1919.
to retirement of the notes
by lot at
par
and int. or by purchase at less than
Bar (these by increase in traffic. Itwill be returned to theastockholders.
Is expected to retire In reasonable time),
pon such retirement the notes
EARNINGS
of Keokuk & Hamilton Bridge Co. year ending Dec. 31
gross, $77,594: net, $53,233; interest, $39,583; taxes, $3,381.
For
1918, gross, $66,759; net. $39,060; Interest. $47,819; taxes. $7,398.
Treas., Theodore Gilrnan, 55 William St., N. Y.—(V. 95, p. 818; V. 99,
1919,
year
p.
120.)
ALA
CROSSE
&
SOUTHEASTERN RY.—Owns La Crosse and South¬
VIroqua, Wis., 40.81 miles;
trackage
La Crosse
and
1.8 miles; total. 42.61 miles.
Stock authorized,
$1,000,000; outstanding. $955,000: par. $100.
Bonds. $1,000,000 auth.:
outstand-ing. $300,000
Wisconsin Trust Co.
of
Milwaukee, trustee.
Year ending Dec. 31 1919, gross, $123,632; net, $27,582; int., rentals, &c.,
$22,470; bal., sur., $5,112.
Pres., John H. MacMillan, Minneapolis,
Minn.; V.-P., A. S. Cargill, Minneapolis, Minn.; Sec. & Treas., Jas. B.
Taylor, Minneapolis, Minn; V.-P. & Gen. Mgr., P. Valier, La Crosse, Wis.;
Gen. Aud., R. J. Semsch, La Crosse, Wis.
Office, 300** Main St., La
Crosse, Wis.—(V. 80, p. 222.)
Jet.
eastern
S. E. Jet. to
to
La Crosse,
★ 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 Dec. 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.)
★ LAKE ERIE fic EASTERN RY.—Marcy to Brady's Lake Junction
Stock (V. 106, p. 2011), auth., $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.)
O., 27X miles.
A LAKE ERIE
FRANKLIN
Summerville to
& CLARION RR.—Owns
Clarion. Pa.. 15 miles; branch, Strattonvllle to Mill Creek. Pa., 3.10 m.;
other branches. 8*4 m.; 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 fic PITTSBURO RY.—Owns 27.76 miles between Marcy
Ry. (now N. Y. Central RR.)
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
5% 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 owned on Dec. 31 1918 about $2,160,000.
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.)
at a connection with Cleveland Short Line
and Brady Lake Jet. on Penna.
★ 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 & Youngstown RR.
HISTORY. Ac.—See V. 50. p. 590; V. 65, p. 600.
N. Y. Central
RR.
$5,940,000 com. and $5,930,000 pref. stock. V. 71, p. 1269.
Annual compensation under Federal control, $1,548,541.—V. 109, p. 472.
In 1918 the Director-General of RRs. allotted to the company 18 loco¬
owns
_
motives,
estimated
to
cost
$936,000, and the financing thereof is being
company, which had not
arranged between the Director-General and the
been completed to Oct. 7 1919.
DIVIDENDS.—V99. '00. '01-'03. '04. '05. '06. '07. '08.
On preferred
%j 0
2
4 yearly
3
3
3
3
1
RONDS.—Guar's 5s Nor. Ohio, which see.
Eaulp. 4Hs,
'09to Feb.'18
None
V. 104. o. 256.
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.—
1019.
19191018.
$2,457,204
$2,232,965
$9,784,825 $9,343,904
903,892
Net
247,654
33,303
542,431
472.
REPORT.—Report for year end, Dec. 31 1918, in V. 109, p.
Balance
Year—
Gross.
Net.
Comp'n.
Other Inc. Int.,<xc.
1918—-$9,343,905
$562,340 $1,548,512
$60,881 $1,113,134 $496,289
733.593
1917
8,122,895
1,853,777
136,681
1,256,865
1,017,431 1,519,967
1916
2,410,960
126.438
7,404,184
516,550
1,055,253
1915
6,239.647
1,445.241
126,562
1920.
„
Gross.
,
-(V. 110, p. 562, 970, 1290.)
ALAKE SUPERIOR fic ISHPEM1NO RY —Owns p|l^que Isle
"ipemlng, Mich.
7.02 miles; total.
quette) to Ishpemlng, Mich., 26.10 miles; branches.
Also owns large docks at Presque Isle Harbor.
33.12 miles.
largv,
Controlled
by Cleveland-Cliffs Iron Co.
Stock, $1,000,000; par. $100.
The serial 6s
of 1911 are redeemable In reverse of numerical order at 101
V. 92. p. J 636,
(Mmj-
"
-
V. 93. p.
229.
.
,
,
_
$1,480,759; net. $481.-
For year ending Dec. 31 1918, gross,
283; other Income, $25,559; Int. on bonds, $42,115; rental, Ac., $204,103;
bal., sur., $260,624.
Car trusts ($200,000) were paid in full July 1918.
Pres., Wm. G. Mather, Cleveland, O.; Gen. Mgr., H. R. Harris, Mar¬
quette. Mich.—(V. 106, p. 929.)
LAS VEGAS & TONOPAH RR.—In 1918 operations
to Beatty were abandoned.
that caption above.
from Las Vegas
As to subsidiary, Bullfrog & Goldfield RR.,
see
LEAVENWORTH
BRIDGE CO.—V.
106,
p.
1577.
TERMINAL RAILWAY A BRIDGE.—Owns high¬
and railroad bridge (opened Jan. 1 1894), 1,112 ft. long, over Missouri
Bridge Co. bonds.
★ LEAVENWORTH
of stock for like amount.
way
River at Leavenworth,
In July
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
not
★Government
74
APrlvate
RAILWAY STOCKS AND BONDS
Contract.
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rate
When
Last
Road
Bonds
Value
Outstanding
%
Payable
and
Places
Dividend
[For abbreviations, <Jbe., see notes on first page]
Maturity
I
Lehigh & Hudson River—Stock $1,720.000
General M $3,000,000 g (see text)
Ce.xc*
Debentures $400,000 red 105 since Nov 1911
x
*74
—
514
11
Lehigh Buffalo Term Ry Corp 1st M bonds
$17,400,000
pledged
under
coll
50
1890
$1,720/000
6,300,000
1,000,000
1895
1914
1908
1,000
1,000
1,000
1911
1,000
1,000
1913
1916
•
50
50
1,000
1,000
1,000
1,000 &c
1,000 Stc
1.000
1,000 &c
1868
1873
1873
1903
1903
1905
1918
of 1918"
trust
Lehigh Val Term 1st M g guarp & 1 end—Ce.xc*&r
East & Am 1st M Phill N J to Perth Am &c guar.xr
Easton & Nor 1st M g guar by Leh VaLGP.xc*&r
28
69
13
Middlesex Valley 1st mtge $600,000 gold
Ce.zc*
Pa Sc N YCan&RR—Cons gu (text) (end)—GP.xr
29
136
J
M
1,000
1,000
2,000,000
15,000,000
1.000
3.000.000
1,000
1,000,000
1,000
1,000
10,000,000
1891
1880
500
1895
&
&
N May
F
St
Guar Tr & 3 D Co, Phlla
D June'21to'23
M
A Feb *21to'28
M
do
do
Penn Co for Ins. &c. Phil
do
do
'21to'31
3 '20 \ %Vo Checks mailed
S Mar'21to'29
Sc
A
do
do
'21to'26
O Apr
St
Apr
Apr 3 '20 2H%
Q—J
Q—J
J
Sc
J
&
D Dec
do
do
D June 1 1948
J
1 1923
Sc
N
M
&
F
&
N May 1 2003
A Aug'20-Feb
M &
M
Co's office. 228 So 3d St,
D Irredeemable
Sc
M
S
Sc
Phil, and J P Morgan
& Co, New York
May 1 2003
26
do
do
Sept 1 1928
s
Of.Phil.&JPM&Oo.NY
Sept 1 1945
July 11940
do
do
11957
do
do
&
N Nov 1 1966
do
do
A
Sc
M
Sc
51,000
4H g M
M
5 g
200,000
8,500.000 4, 4>4. 5 A
Sc
& JPM, NY
N Mayl 1922(ext) Office, 228 So 3d St, Phil
do
do
N Nov 11935
Sc
N Nov 11942
5 g
5
See text
Sc
Sc
J
s Men
100
See text
1891
1906
10
annual rental of
$16,000 each, under a 30-year contract from 1894. with
option of 30-year extension.
Chicago Oreat 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.)
A LEAVENWORTH
& TOPEKA RY—Leavenworth 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.
It was also arranged to lease the
Sroperty for 10 years to a new company, the TopekaAnthony Northern RR.
& Eastern Ry., headed
y O. P. Byers of Hutchinson, Kan., President of
(now the Wichita Northwestern RR.).
Rental, for first year's taxes; for
next four years taxes plus $2,000 yearly; second five years, taxes and $5,000
In Nov. 1919 Atchison Topeka & Santa Fe RR. was reported as
about to
acquire the terminals. V. 109, p. 1987. The special benefit dis¬
trict along this road in Jefferson and Leavenworth counties voted a $75,000
bond, In Dec. 1919, for improvement of roadbed and equipment of the road.
yearly.
OFFICERS.—Pres., J. E. Waddill, Kansas City; V.-P., Walter A.
Johnson Topeka; Treas. George W. Hanna Clay Center and Sec. Floyd
E. Harper, Leavenworth. Kan.—(V. 106, p. 2450.2560; V.109.P.477,1987.)
o Oct
Of.. Phil,
11941
Sc
O Apr
F
4
Sc
A Feb 1920
A Feb 1920
Of. Phil ,& J P M &Co
F
&
J
Sc
J Jan
Sc
J Jan
5 g
4
J
Sc
J Jan
&
A Feb
do
do
1 1933
1 1932
F
2%
5%
1 1933
J
,NY
Lehigh Valley RR. Phlla
Of flee, 228 S 3d St. Phlla
1 1939
5 g
4 g
10,114,000
1,000
1,000
1,400,000
170.000
1,000
1.000 In treasury
1892
111
St
4H 8 J
4H g M
M
43^
See text
Sec
1,000
1,000
1892
1888
1892
Delano Land 1st M g gu s f (V 90, p 1017)—GP.x
N
St
g J
4 g
100
Cons Real Est 1st M $2,000,000 (V 83. D 702)—Usm
Payable
See tex t
Morris Canal consol stock 4% guaranteed perpetual
Preferred stock 10% guaranteed perpetualL V Coal Co 1st M $12,000,000 g s f not dr..xc*&r
do
Interest reduced
x
J
J
5 g
5 g
are
6% Warwick, N Y
IrvNatBk, NY Warwick
Irving Nat Bank, N Y
July 1 1920
Dec
1918,
8% Philadelphia office
J July 1 1945
437 Chestnut 8. Phlla
J July 1 1954
&
4H
43*
4^
4^
Where Interest and
Dividends
Various
in '18
305,000
360,000
4J8S
580,000
60,501,700 SVi in'19
10
106,300
4 g
5,000,000
10,400,000 4H & 6
12.600,000 4H & 6
4 g
20,983,000
20,097,000
4H g
4 g
5,156,000
6 g
15,000,000
1895
1890
1907
1919
J July 1 1920
&
4
8
4.000,000
90,000
295,000
1.000
1,000
1914
5 g
400,000
D Dec
&
text J
See
2,587.000
1916
115
Further
$100
1,000
1,000
1907
Lehigh & New England—Stock
—
All""
First mortgage $1,000,000 gold
FPx
196
General mtge $15,000,000 g red 105
GuP.kc*
Equip tr ser A g gu red 102
due $30,000 yrlyGuPx
do
ser B g gu red 102 H due $45,000 yrlyGuPx
do
ser O guar gold red 102H $35,OOOjrrly.GuPx
do
ser D due $40,000 yearly guar
PeP.xc*
do
ser E due $55,000 yrly (guar) (V. 103.p.1405) PeP"
Lehigh Valley—Common stock $80,000,000
Op
Preferred stock 10% (V 79, p 151, 269)
OP
286
First mortgage extended In gold in 1898_GP.xc&r
Consolidated Mlcoup® $4,762,000 4 Hs.-xc&rl
\
$40,000,000 /annuity $2,538,000 4 Hs
FPx] 317/
317
General Consolmtgel $150,000,000 gold—GPxc*&i
317
do
do
/
Coll trust bonds $500,000 due s a, see textGP.xc* &r
Coll trust bonds call 103 Sept 1923 or affc_xxxkc*&r*
Bonds of Controlled Properties—
„
[VOL. 110.
Control.
11956
freight terminal at Buffalo.
V. 102, p. 153;
>; "
733, 1257, 1672; V. 101, p. 455 V. 104, p.
Black Tom decision, V. 107, p. 2008; V.
1089, 1816.
Coal rate case, V. 108, p. 683.
p. 1089.
,
J P Morgan St
£
Co, N Y.
and Drexel & Co, Phil
o's office, N Y
Sc Phlla.
V. 99, p. 467; V. 100, p. 397,
1263; V. 100. p. 1461.
108, p. 973, 2122; V. 110, p.
New Black Tom suits, V. 110,
.
31 1919 owned en¬
$9,405,000 stock of Lehigh Valley Coal Co. Coxe Bros., see "Bonds.'
shipped from collieries owned and controlled 7,074,765 tons
of anthracite coal for the 6 mos. to Dec. 31 1916, against 7.254.367 tons for
the corresponding period In 1915; total coal and coke tonnage. 6 mos. to
Dec. 31 1916, was 8,692,076.
No .ater data published.
In Jan. 1912 the Lehigh Valley Coal Sales Co. was incorporated.
See
$ttra dlv. below and Lehigh Valley Coal Sales Co. under 'Industrials.
\ .94. p. 123; V. 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.
To reargue
dissolution suit, V. 110, p. 2192.
COAL PROPERTY.—Lehigh Valley RR. Co. on Dec.
tire
The Coal Co.
,,,D
„
f *04.
D1VS.
'05.
'06.
'07-'10.
'11-'14.
1920
text
1919
1915 to'18
Since'93 (%)l 1
4
4
6 y'ly.
10 yrly.
10 yrlv.
8)4
In Feb. 1912 also an extra cash dividend of 10%, applicable if
desired
subscription for stock of new Leh. Val. Co.'s Sales Co.
In July
the common dividend was reduced from 2M% to 1 H% quarterly.
to
1919
Oct.
1919 and Jan. and April 1 1920, IH% each.
★ 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 Phlllipsburg, N. J., to Easton, Pa., .70 miles; trackage, Penn. RR.,
Belvidere to Phlllipsburg, 13.3 m.; D. L. & 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 control, $519,371.
Supreme Court
decision, V. 110, p. 1816.
BONDS.—Of the
$2,587,000 Gen. M. bonds out, $1,062,000 are guar& I., by Central RR. of N. J. and Leh. Coal & Nav. Co.
V. 92.
p. 595. 1701.
See form of guar Sec., in V. 67, p. 788; also V. 85. p. 1513.
Jointly,
p.
DIVIDENDS.—
I 1912.
1913.
1914. 1915.
1916.
1917.
1918-19.
/
4
4
4
8
8&6 extra 12
See text
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. 100, p. 2335.
In Dec. 1918 a dividend of 6% was
declared and paid on Feb. 10 1919; June 1919 and Dec. 1919 paid 6%.
Percent
On Jan.
1
Jan. 1 to Dec. 31—
Jan. 1 to Mar. 31
^
EARNINGS.—
1920.
Gross
Net...
—
1919.
$494,647
def.45,543
1919.
$578,219
53,184
1918.
$2,687,526
644,932
$2,476,850
523,732
ANNUAL REPORT.—For calendar year 1919:
Dec. 31 Year. Cross.
1919
$2,687,526
1918....
1917
Lewis A.
2.476,850
2,247,617
Net.
Tot. Inc.
Int., Ac.
$455,166 $532,330
452,132
529,532
681,408
691,259
$30f,417
227,612
338,485
Divid'ds.
Bal.fSur.
$24,571
(12)$206,340
(12) 208.340
(12) 160.800
Riley, Pres., Phila., Pa.; George D. Dixon, V.-Pres.;
95,580
191,973
V.-Pres. &
pe20(M^47^T1l^UtpCTlf4l5;)SeC* & Treas" Wuliam H- Sayer.—(V. 107,
U
W
iroV
Dec. V»?Vorn
31 1919,
TW
ESr EvQ!in7ND RR.—Operates road from Hauto. Pa.;
in
1
*;?'iJ!
onn
«8
299 miles,
m,les; Hatnesburg Junction, N. J.t to
Bethlehem, Pa., to Benders Jet., Pa., 19 miles;
iI.P£vt18 miles>
branches, 72 miles; total,
of which 9 m.
?
are
leased and 96
o»s?tmd®rv?iu. pM?4.p-
m.
trackage rights,
i962; v- bi- -i3s6-sui,reine
^Federal Compensation.—$1,135,761 yearly during Federal control.
enSonn.aufch • • $7,500,000; outstanding Dec. 31 1919.
$0,300,000, $6,298,250
being owned by Lehigh Coal & Nav. Co.; par. $50.
DIVIDENDS.—1913.
Percent
4%
1914.
1915.
1917.~ 1918.
1916.
11%
8%
10%
10%
Bonds, Ac.—Of the Gen. M. 5s of 1914 ($15,000,000 auth.),
H^ep^9^e<1060'evre99iep 49^S6^4^
EARNINGS.—
Gross
1920.
%IJ00ST000
Jan. 1 to Dec. 31
1919.
$995,937
207,869
Net
8%
*or 'u^ur® purposes. V.
Jan. 1 to Mar. 31
—
1919.
8%
1919.
$651,551
27.254
$3,981,318
1,025,201
1918.
$3,989,895
1,205,774
REPORT for year ending Dec. 31 1918, V. 108, p. 2236, shows:
Gross
Fed. ComOther
Interest,
Dividends
Balance,
Earnings,
pensalion,
1919—See above $1,135,761
1918—See above *1,135,761
Pres.. Samuel D.
Income.
$27,573
24,005
Warriner; V.-P.
Rents, &c.
Paid.
$501,823 (8%)$504,000
523,888
(8) 504,000
&
Gen.
Counsel.
Surplus.
$157,510
131,878
Wm. Jay Turner;
V.-P. & Gen. Mgr., Rollin H. Wilbur; Sec. &
Treas., Henry H. Pease;
Gornp., E. M. Reynolds, 437 Chestnut St., Phila., Pa.—CV. 110, p. 970,
lo49, 2075.)
★ LEHIGH VALLEY RR.—Oper. Dec. 1919, 1,436 miles, viz.:
Main Line (fee, or all stock owned),
Jersey City to Buffalo
446
Branches (fee or all stock own'd) .797
143
49
Leased
Trackage
(2d track 697 miles)
—
?{ 4110 Director-General of Railroads the New York and
Jersey city stations of the Pennsylvania RR. have been used by
In
HISTORY. ETC.—V. 91,
p.
on
(entire $50,000 stock and $4,000,000
31
.
on
the bond.
1919) has built
a new passenger
,
and
,
,
,
_
^
The extension privilege applied only to bonds deposited with Drexel &
Co., Phila., on or before May 1 1920.
Upon such deposit, temporary receipts were issued exchangeable for
bonds of an equal principal amount with an extension endorsement thereon,
when ready, and the sum of $27-71 was paid in cash in consideration of the
extension of each $1,000 bond.
On May 1 1920 Drexel & Co. offered at par, the bonds of holders who
did not desire to avail themselves of the above privilege of extension.
Equipment trusts in treasury Dec. 31 1919, "M," $800,000; "O," $1,500,000; "R," $1,200,000.
V. 106, p. 1453.
Loans and bills payable as of Dec. 31 1919, $2,000,000.
.,
„
.
f
GUARANTIES.—Lehigh Valley
Railway Co.—Owned Buffalo. N. Y.t
Pa., 174.48 miles, double track, and branches, 339.74 miles.
In 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 &
to near Sayre,
Lake Erie.
Stock,
$11,745,000, all owned by Lehigh Valley RR.
Mortgage
Ilk V. 77, p. 147, 972; V. 81. p. 784; V. 84. p. 1360.
Valley RR. Co. of New Jersey.—Owned double-track road from
Phlllipsburg, N. J„ to Jersey City, and branches, with about 125 acres at
Jersey City and a large water front, &c.
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;
V. 83. p. 703; V. 98, p. 1845. 1920.
Morris Canal.—Stock and bonds mostly owned by Lehigh Valley RR.
See Issue Oct. 1912 and V. 92, p. 527, 1109: V. 93, p. 811. 1106; V. 94,pi.
419; V. 95, p. 488; V. 97. d. 373. In Nov. 1915 the lease was held taxable.
V. 101, P. 1807.
Ownership of basin in Jersey City, V. 102, p. 1060.
Penn. A N. Y. Canal A RR.—Leased for 99 years from Deo. 1 1888 to
Lehigh Valley, which has assumed Its debt and owns all Its stock.
Consols
Include $4,000,000 5s. $3,000,000 4s. $1,500,000 4 Ha.
V. 62. p. 950.
Seneca County Ry., $500,000 em. bcls.; none sold Dec. 311919. V.79, p.1271.
Lehigh A Lake Erie mortgage ($3,000,000) covers 11m. double-track ter¬
minal road at Buffalo.
V. 81, p. 211: V. 83, p. 702.
Now a part of the
abstract, V. 51. p.
Lehigh
t
Lehigh Valley Ry. Co.
V. 84, p. 1248; V. 85. p. 312; V. 87. p. 817.818.
GENERAL FINANCES.—Protest by co. against purchase of equipment
assigned to it by Fed. Admin., see V. 108, p. 1715.
196. but considered by company inadequate.
Jan. 1-Mar. 31
EARNINGS.—
276.
Temitoal Ry.
1st Mortgage 4 Ms owned Dec,
Susquehanna St New York RR.,
Lehigh Valley RR.
V. 107. p. 1579.
bonds, bear¬
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. 588; V. 102, p. 1340. 1436; V. 97, p. 1823, 1898; V. 99, P-477;
V. 77. pT 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 collat trust 6s below.
The purchase of stock of Coxe Bros. St Co. ($2,910,150) (V. 103, p. 587)
and of Dela. Susq. & 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 102K, 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.
The $15,000,000 Collat. Trust 6s of 1918 (V. 107, p. 905; V. 108, p. 878,
1715) were secured by collateral (subject to substitution under restrictions),
viz.: (a) $4,000,000 Lehigh-Buffalo Terminal Ry. 1st M. 4^s, due Nov. 1
1966 (guar. p. & 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. & I. by Lehigh
Valley RR.); (c) $17,400,000 Lehigh Valley RR. General Consolidated Mtge.
gold bonds, due May 1 2003.
The company offered to extend the $6,000,000 1st mtge. 5% bonds of
the Easton & Amboy RR.', maturing May 1 1920 to May 1 1922 with interest
at 5% per annum.
Payment of the principal and interest of the bonds as extended will be
unconditionally guaranteed by the Lehigh Valley RR. by a writing endorsed
GOVT. COMPENSATION.—Fixed during
the 40-mile
Williamsport to Towanda, Pa.,
i
this com
?we 1S(??K16,1918- v- 107 • p- HOI: V. 108, p. 1715.
1918 took over
Oct.
BONDS.—Gen. Consol. Mtge. of 1903 is for $150,000,000
ing not to exceed 5% Int., covering the entire road, the stock of the Lehigh
Valley Coal Co. and other stocks owned.
On Dec. 31 1919 there were
outstanding In the hands of the public. $20,697,000 4Hs and $20,983.000 4s; in treasury, $1,000,000 4 Ms, $12,656,000 4s and $12,000,000 5s;
balance reserved to retire underlying bonds and for additions. Sec., $8,-
Gross
Net
Federal control at $11,316,See V. 108, p. 1715.
Jan. 1 -Dec. 31
1920.
1919.
1919.
1918.
_$15,605,287 $13,443,799 $64,528,890 $65,586,769
-def.1.075,548
294.712
5,326,589
8,240,743
Mat, 1920.]
APrivate
RAILWAY STOCKS AND BONDS
*g0°srt
Last
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rale
Road
Bonds
Value
Outstanding
%
Payable
Lexington Union Station—Preferred stock (see text)
$390,600
4
J
&
6
M
&
4 g
J
50
4.837,300
50
4.642.650
4
1912
1,000 t> 1,070,000
4
50
2.487.950
1912
1,000
789,000
1881
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1913
Ce.vc*
$2,750,000 g _Ce.zo*
Stewart Line mtge of 1932 for $500,000 gold—Cev
Debenture ($1,500,000) gold not subject to call—z
Bklyn AMont 2dM assu BusSta to E'tp't & brsCe.zc*
L. I. City & Flushing M gold assumed __Ce.vc*
New York Bay Extension 1st M ass $200,000z
Montauk
Extension $600,000 1st M assumed—z
Unified M gold callable at 110 $9.673.000.Ustn.xc&r
Refund mtge $45,000,000 gold gu p & 1—Eq.xo'Ar
Debentures call aft 5 yrs 102 H
Usm.yyxc»<fer^_
Equip trust 8er A, B & O, $100,000 each ser due yrly
Eq tr Ser A $100,000 due yly to *23; then $96,000 yly
Equipment trust Series B $94,000 due yearly
1888
163
General
mortgage gold
Long Island RR M on ferry for
Leased and Controlled Lines, Principal or Interest
1904
1892
"18
1892
1894
*76
1888
19
1887
1893
6
21
1895
1899
5 g
J
A
J July 15 '20
A
4 & 5 g
A
O Junel 1942
,
Q—J
J
MAS Mch
4 g
al.135,000
600,000
626.000
alOO.OOO
J
A
D June 1 1932
J
A
J
A
A
D June 1 1938
do&Lon
D June 11938
do
1937
do
do
do
1943
do
do
1945
do
do
1949
1949
do
do
do
do
do
do
J Jan
A
5
MAS Moh
1903
316
1.000
500 &o
4,023.000
25,913,000
4 e
4 g
100 &c
5.202.100
300,000
520.000
5 g
M
&
4
if
&
N May 1 1937
A Feb 1921
5
4H
J
&
D June 1921-24
&
A Feb 1921-27
1,000
1,000
1,000
1906
1914
1917
Quara
L I RR No Sh Br cons M $1,425,000«u p Al.Ce.vc*
gu.-Cev
$984,000 guar p & 1
Ce
P P & C 11st and 2d ($96,000 seconds) guar p A l_v
19
N Y & Rock Beach 1st M
"16
MAS Mch
F
Fidelity Trust Co, Phlla
Fidelity Trust Co, Phlla
Fidelity Trust Co, Phlla
nteed.
30
N Y B & Man B 1st cons M $1,726,000 gold
658,000
do
Treas Penna RR Co, N Y
do
MAN May
A
J Jan
I"
do
1 1922
1917
316
Treas Penna RR Co.NY
do
do
D June 1 1934
£g
£ g
a315.000
2H Office, 410 Walnut,Phlla
Safe Dep & Tr Co, Bait
July 1 1931
4 g
4H S
3,000,000
1.490,000
332,000
Ky
Nat Bk.
Pittsb
Portland. Me
Central Union Tr Co, NY
Mellon
1943
Q—M 10 Mar 10'20 2 1-5 Office, Fosdick Bldg, Cln
do
do
Q—M 10 Mar 10 '20 1%
MAN Nov 1 1962
Farmers'LnATrCo, N Y
5 g
5
4,730,000
•
Where Interest and
Dividends are Payable
July 1 1920 2% Office. Lexington,
N May 1
J July 1 1929
MAN Nov 1 1934
s 3-c
'
J
Places
Maturity
&
1 000
300,000
400.000
1,000.000
$100
1,000
1,000
_
16
Dividend
and
When
iFor abbreviations, Ac., see notes on first page]
Llgonier Valley RR—1st M $300,000
x
12
Lime Rock—Consolidated refunding mortgage gold..
44
Litchfield & Madison—First mtge $1,000,000 gold.x
Little Miami—Stk original gu 8% 99 yrs P C & St L_.
Special guaranteed betterment stock ($5,000,000) —
General mortgage $10,000,000
z
Sou.
Little Rock & Hot Sp West—See St Louis Iron Mtn &
32
Little Schuylkill Nav RR & Coal—Stock (rented guar)
81
Live Oak Perry Sc. Gulf RR—First mortgage
x
Long island—
156
Consolidated mortgage (gold) ($3,610,000are5s)Ce.v
75
Control.
1,000
1,000
1,000
1.000
1892
1885
1887
'86-'91
A
£g
5 g
O Oct
A
MAS
Various
4K
1 1932
1 1935
Oct
Q—J
5 g
al,262,000
al,601,000
a883,000
g436,000
Treas Penn RR Co. N Y
do
do
Sept 1 1927
do
do
1926-1931
do
do
b Of this amount $44,000 was in treasury on Dec. 31 1919.
a
K
In hands of public; total issue shown in left-hand c olumn
There are also $104,000 2d M. 6s not guaranteed.
;
balan
ce
under
Corporate Income Account for 1919, Based on Accrued Federal Compensation.
1918.
1919.
Fed'l
comp'n.l 1,316,196 11,321,233
1,848,238
3,026,424
Other income-
Total income.13,164.434
1918.
1919.
Interest, taxes,
rentals, Ac- 8,187,221
Dividends
4,699,512
14,347,657 Surplus
277,701
ANNUAL REPORT.—For year 1919, V. 110, p.
Year to Dec 31;.
"
~
7,754,823
6,060,800
532,034
Year end.
1967.
June 30 '19.
19161917.
1918.
1919.
—$23,075,738 $24,118,333 $20,402,226 $18,330,880
Merchandise freight.
29.155,590
22,705,556
21,478,421
28,531,805
6,234,935
4.894.990
4,598,212
Passenger
6,827,897
6,077,911
5,355,674
4,452,396
Mail, express, &c
7,107,062
Revenue from Oper.—
Coal freight
—-
-
Total oper. revenue..$65,542,502
Net after taxes
$3,628,886
Other income.——
859,694
Total net
Bond interest
$4,488,580
Lease other roads
Corporate
Account
above.
See
Other rents, &c
Preferred divs. (10%)
Common divs. (10%)
$65,586,769 $53,358,446 $48,859,909
$6,364,382
$9,403,324 $12,279,778
764,470
5,077,156
2,987,267
$7,128,853 $14,480,480 $15,267,045
See
$3,753,304
$3,952,876
2,144,178
2,142,589
1,543,381
1,231,567
10,630
10,630
6,050,170
6,050,170
Corporate
Account
above.
$1,091,059
Balance, surplus
$1,766,971
President,.E. E. Loomis; Vice-Pres., J. A. Middleton; Sec., D. G. Baird;
Treas., E. C. Mann.
Executive committee, E. E. Loomis, Geo. F.
Baker, E. T. Stotesbury, W. H. Moore, Daniel G. Reid, James McLean
and F. M. Kirby.
Kirby,
Henry
B. Ooxe, Arthur W. Sewall, Morris L. Clothier, George T. Slade, J. F.
Bell.—(V. 110, p. 970, 1089, 1290, 1415, 1849, 2192.)
DIRECTORS.—Edward T. Stotesbury, H. S. Drinker, Fred M.
Wm. H. Moore, Daniel G. Reid, Samuel T. Bodine, Geo. F. Baker,
★ LEXINQTON & EASTERN R Y.—See Louisville & Nashville.
★ LEXINGTON (KY.) UNION STATION CO.—Owns passenger station.
Common stock, $15,000, owned equally by Loulsv. A Nashv., Ches. A
Ohio and Lexington A Eastern.
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. MoDowell.
ALIQONIER VALLEY RR.—Latrobe to Llgonier. Pa., 10.3 miles; LIgo
nier to Fort Palmer, Pa., 5.7 m.; total. 10
Stock, $500,000; par
$50..
miles.
Dividend, 25% In stock paid May 1 1913.
1913-14 0% deferred dividend and 0% regular were paid.
Bonds,
see
able above.
For year ending Dec. 31 1919;
Gross, $390,329; net,
$87,382; interest, $52,824; divs., $50,000; bal., def., $15,442. Pres., J. R.
Mellon; V.-P., T. A. Mellon; Sec., A. W. Mellon; Treas., R. B. Mellon.
Office, Ligonier, Pa.
In year
A LIME ROCK RR.—Owns road In and around Rockland, Me., 11 m.»
trackage, 1 m.; total. 12 m.
Stock, $450,000; controlled by the RocklandRockport 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. ZH%'. 1911-12. 2H%: 1912-13, 4H%;
1913-14, 1X%; 1914-15, 1%%', 1915-16, 1H%: 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,)
★ LITCHFIELD & MADISON RY—Owns Litchfield Jet. to Madison, III.,
44 m.; trackage, 1 m.; total, 45 m.
Stock, common, $500,000; pref., 4%
non-cum., $500,000; par, $100.
Car trusts Oct. 1 1918, $27,614.
Year
1917, gross, $489,342; net, $130,638; other Inc., $48,411; int.. Ac., $52,435;
pref. divs. (15%) $75,000; com. divs. (4%). $20,000; surp., $31,237.
Pres., James Duncan, Alton, 111.; Treas., F. M. Campbell.—(V. 107,
p.
1192).
★ LITTLE MIAMI RR.—(.See Maps Pennsylvania RR.)—Owns Cincinnati,
Springfield, O., 84 m.; branch, Xenia, O., to Dayton, O., 15 m.; Day¬
ton, O., to Ind. State line, 38 m.; leases Columbus A Xenia 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.
U., to
LEASE.—On Deo.
1
e.
$12,455; bal., sur., $31,655.
For cal. year 1917, gross, $246,702
after taxes, $106,290.
Co-operative contract signed in July 1919.
Pres., J. H. Powell; Sec. A Treas., R. P. Hopkins.
Office, Live Oak.
V. 104, p. 2452; V. 109, p. 371.
taxes,
net,
A LONQ ISLAND RR.—Operates the steam surface roads of Long
Miles.
Leases—(*Which see.)
RR.) for 99 years, renewable for¬
the contract and guarantees its
Rental is 8% on $4,943,100 original stock, 4% on bet¬
Total Jan. 1 1919
Leases (*whlch see)—
N. Y .A Rockaway Beach
Ry.*_.
10
owns
the
188
157
12
^
Huntington
PLAN.—In 1917, the minority shareholders having generally surrendered
their holdings, the Penn. RR. Co.: (fl) accepted in settlement of the approxi¬
mately $30,000,000 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 stoclc at bar; (b) gave $5,202,100 5% debsJ 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¬
erty.
V. 104, p. 633, 863, ,1146, 1263, 13899, 2235, 2452.
STOCK.—Authorized. $40,000,000; outstanding
250. of wnich the Penn. RR. owned $33,934,850.
V. 100 p. 2222.
"DIviDENDS*—
Dec. 31 1918, $34,110.V. 104, p. 361, 1899;
/ '82. '83-'90. '91. '92. '93. '94. '95.
1
4 y'ly.
5
5
4)4
4
{
Percent
'90.
None
4
since.
($45,000,000 authorized Issue) are se¬
cured by a lien on the entire road, subject to the $21,992,000 outstanding old
bonds, to retire which an equal 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 with 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 doubletrack connection with the New Haven road, for additional terminals, tracks,
equipment, and to retire old bonds.
V. 78, p. 583, 1549; V. 79, p. 790;
V. 80, p. 1111: V. 81, p. 211; V. 82, p. 868: V. 92, p. 527.
TheN. 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 4s outstanding
to $29,668,000.
V. 107, p. 402.
V. 106, p. 2011, 2222.
The Unified Mortgage Is limited to the amount now outstanding. Bonds
are subject to call at 110 in whole orln part.
See Refunding 4s above. V
68, d. 618. Mtges. on real estate, $1,767,680. V. 76, p. 266; V. 85, p. 160;
V. 89, p. 529. 1411; V. 90, p. 09^, 1<>40; V. 93, p. 1022; V.
p. 009; V.
103, p. 2079.
Debentures or 1917, see "plan" above and V. 104, p. 2452.
GUARANTIES.—In addition to guaranteed bonds in table above, guar¬
antees 5% on $650,000 New York Brooklyn A Manhattan Beach pref. stock
as part rental; also 6%
on
$50,000 P. P. A So. Br. stock and 10% on
$82,500 of the New York A Coney Island stock and 6% on $44,000 1st
M. 6s of Montauk Steamboat Co., due Apr. 1 1926.
Jan. 1 -Mar. 31
Jan. 1 -Dec. 31EARNINGS.—
1920.
1919.
1919.
1818-,
Gross
$4,721,076 $4,574,997 $24,381,973 $22,241,156
Net
def .773,711 def.18,281'
3,795,124
5,502,085
The company refused the six months extension of the Govt, guaranty.
BONDS.—The Refunding 4s of 1903
i02,
REPORT.—Report for year 1918, V. 108, p. 1710.
xU.S.RR.Adm.data)
1918.
1917.
Operating revenue.
Net
(after taxes)
Company Account—
„
l£L6oon
S14.971.839
4.156,845
—
$3,221,949
299,865
289,395
405,470
452,812
262,434
254,175
253,999
22^,379
$3,784,248
Ac
securs.
„
x$22,213,445 $17,286,180 $17,286,180
*4,422,787
3.819,613
4.379.807
U. S. compensationaccr.
Rents,
Unfund.
$4,363,183
$5,039,277
$4,837,036
$366,678
$612,897
$612,897
221,652
495,488
203,287
2,428.598
136,197
71,857
$668,625
Aaccts.
Gross Income
--------
Deduct—
Lease of other roads—
BONDS.—The General 4s of 1912 ($10,000,000 autn. issue; Cent, Trust
& Safe Dep. Co. of Cincinnati, trustee) are to bear not over 4% Int., and
have a first lien.
V. 95. p. 750. 1331; V. 96, p. 420.
on
★ LITTLE SCHUYLKILL NAVIGATION RR. & COAL.—Owns from Port
Clinton to Tamanend and Reevesdale. 31.44 miles; 2d track, 26.47 m.; total,
91.71 miles.
Re-leased on Dec. 1 1896 to Phlla. A Read. Ry. for 999 years
and rental reduced from 7% on stock to 5% gold from Jan. 1 1907
*07. '08. '09. '10. '11. '12. *13. *14.
'15.
Since 1903% j 5M 5H 5
5H 5
5H
5
5M
5
Lessee pays taxes and organization expenses.—(V.
'10.
'17. *18.
5
5
5
100, p. 189.)
*19.
5
ALIVE OAK PERRY & QULF RR.—Owns Live Oak to Econfenla. etc..
Fla.66, .85 miles; Mayo Jet. to Alton, Fla., 14.41 m.; Murat Jet. to Murat,
Fla., 3.74 m.; branches, 2.88 m.; total, 83.88 miles.
Stock auth., $2,000,000; outstanding, $600,000; par, $100.
Bonds, see table.
Oar trusts
Dec. 31 1918, $25,000.
For cal. year 1918. gross, $225,635; net after ord.
taxes, $70,013; other income, $20,181; int., rentals. Ac., $46,084; war
397
RR., Northport Traction, Nassau County
Ry., Glen Cove RR. and Ocean Electric Ry., having combined mileage of
34.03 miles, and through the Long Island Consolidated Electrical Companies
(whose entire $25,000 capital stock is owned, none of the $10,000,000 of
collateral 4^s of 1905 being outstanding) a one-half interest in N. Y. A
Long Island Traction Co., 42 m.f and Long Island Electric Ry., 26m.
V.
89. p. 598; V. 90, p. 1040; V. 106, p. 396, 499, 2222.
Fares in 1918
V. 107, p. 181.
'
Also
War taxes, Ac
1
17
Oper. electrically (miles fcrac.)
Hire of equipment
Joint facilities
DIVS.—
Miles.
Double track
Atlantic Ave. Nassau Elec. RR..
debt; $105,800 additional stock Is In treasury.
Total stock, $10,000,000.
V. 84, p. 51, 815; V. 86, p. 857; V. 104, p. 73.
Beginning Dec. 1899, 1-5% extra paid on com. stock each Dec. and
June, and with 1912 1-5% also In Sept., from surplus Invested funds,
making dlv. 8 3-5% yearly.
terment stock and int.
Island.
197 N. Y. Bklyn A Man. Branch^..
Montauk division and branches..142 Trackage (included above 4m.).
Northside division
J9
Main line and branches
1869 leased to Pittsburgh Cincinnati A St. Louis
(now Pittsburgh Cln. Chicago A Sc. Louis
ever.
The Penna. RR. Co. Is a party to
faithful execution.
unified mtg
Miscellaneous rents, Ac.
Bond interest
Other interest
171,181
2,149,343
200,407
123,093
$773,545
Balance, surplus
Pres., Ralph Peters; V.-Pres., A. J.
J. F. Fahnestock.—(V. 108, p. 1716;
★ LOS
ANQELES
&
From Salt Lake City,
203,287
2,428,597
136,197
112,904
204,169
486,190
200,615
2,645,920
360,873
29,171
$869,301
$869,301
$241472
County; Sec. Frank E. Haff; Treas ,
V. 110, p. 1415).
SALT LAKE RR(See Map
Utah, to Los Angeles, on the Pacific
Coast, 811 m
aggregating In all 1,168 miles; from Daggett
A. T. A S. Fe and Sou. Pac.
Has
steamship connection via Hawaiian Islands to China, Japan and Manila.
V. 81, p. 1551; V. 82, p. 1323; V. 91, p. 690.
Salt Lake Citv terminals.
V. 70. p. 920, 1193. 1350; V. 77, p. 38. 148, 695; V. 78. p. 1393; V. 79. p.
1024.
JLas Vegas A Tonopah 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,
of mala line, with branches,
to Riverside,
1916.
111 miles, is trackage over
V. 103, p. 759.
Federal
Compensation.—$3,414,751 yearly during Federal control.
76
RAILWAY STOCKS AND BONDS
[v«.. 101;
RAILWAY STOCKS AND BONDS
mat, 1920.] *8sssr
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rate
When
tFor abbreviation*, Ac., see notes on first pace]
Road
Bondi
Value
Outstanding
%
Payable
Los Angeles & Salt Lake RR—
San Pedro Los A A Salt Lake 1st M
$70,000,000-Qx
1,033
1911
$1,000 $59,022,000
100
5,000,000
1,000
5,196,000
1,000
(?)
100
130,000
1,000
100,000
1,000
2,150.000
1,000 10,361,000
302
MSt.xc*
.xxx.F.cAr
Ce.xc
$10,000,000 gold
Louisiana Ry & Nav—First M gold.
Louisiana Southern—1st M g red at 105
First mortgage
New mortgage
Louisiana Western—First mortgage gold
Ce.zc*
Louisv Hend & St Louis—1st M $2,500,000 gold—G.z
First Consol M $5,000,000 gold
Louisv & Jeff Bridge & RR—$5,000,000 ggup A i.xc*
Louisville & Nashville—Stock $72,000,000
----L C & Lex Gen mtge gold (V 63, p 1010)
GjtC
New Orl A Mob Dlv 1st M N O to MobUe g__.F,zo*
196
302
xo*
Second mortgage gold
Southeastern & St Louis Dlv first mtge
1902
1914
35
115
334
1920
1895
1905
1903
45
1897
105
i&
.—
-
182
182
500
1896
1915
1,000
100
176
1881
141
1880
141
1880
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000 Ac
1,000
1,000
J
F
M
-
197
STOCK.—Auth., $25,000,000; par, $100; all issued; held In voting trust for
5 years (from 1903) by Farmers' Loan & Trust Co. in joint Interest of Union
Pacific and Wm. A. Clark.
In Dec. 1912 the U. S. Supreme Court held
V. 95. p. 1542.
1911 is for $70,000,000; $28,526,000 were
In the Union Pacific (Oregon Short Line) treasury.
V.
valid control by Union Pacific.
BONDS.—The mortgage of
90. d. Ill; V. 94, p. 124 . 490, 699; Y. 96, p.
V. 100. p. 1833; V. 101, p. 132.
Jan. 1 -Mar. 31
1920.
EARNINGS.—
1703; V. 98, p. 1538, 1994;
Jan.
31
1918.
1 -Dec.
1919.
1919.
.$4,654,826 $4,036,976 $17,209,931 $14,517,377
1,359,176
943,296
4,524,617
3,645,690
Gross
Net
31 1917 (V. 106, p. 822);
Total Net.
Charges.
Bal.,Sur.
1918
$14,517,378 $3,645,690 x$3,644,364 $2,759,569
$884,797
1917
12,766,723
5,035,497
5,143,629
3,699.004
1,444,625
11,656,885
4,843,876
4,957,732
3,432.271
1,525,461
xln 1918 $3,414,751 represents Government compensation.
Pres., W. A. Clark; V.-P., Carl R. Gray, J. D. Farrell and J. Ross Clark;
Treas., W. H. Leete; Sec., C. P. Smith.—(V. 107, p. 1837; Y. 108, p. 378;
V. 110, p. 1089, 1290).
REPORT.—For years ended Dec.
Gross.
Net.
A 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
Alexandria, La., 7.33 miles; and on the St. Louis and Southwestern, near
Shreveport. 2.01 miles. Rock Island Co. uses 36 miles, Packton, La., to
Pineville, La., under traokage contract, and St. Louis Southwestern pas¬
senger trains the Shreveport terminals under a 25-year lease.
V. 93, p. 527.
"STANDARD
RETURN," Ac.—See page 5.
signed).
Federal compensation, $359,362 (contract
The company refused
the six months extension of the Govt, quaranty.
DIVIDENDS.—1906 to 1909,3% y'ly; then to Sept. 15 1911.2K%
y'ly.
None since to April 1920.
BONDS.—The unissued first 5s (total limited to $7,000,000) are reserved
equipment and extensions, of which $1,000,000 reserved
for betterments,
for bridges across
Black and Red rivers, and the balance limited to $20,000
mile of completed railroad.
The entire amount outstanding, but, no
part, is subject to redemption at 110 and Interest on any 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, Acc.; total credit balance to
per
sinking fund, $958,411.
See V. 101, p. 2071.
In May 1920 applied to
issue $250,000 6% notes.
V. 110, p. 1973.
Jan. 1 -Mar. 31
Jan. 1 -Dec. 31—
EARNINGS.—
1920.
1919.
1919.
1918'.
y
.$1,072,207
Gross
393,928
Net
y
*
$515,860 $2,220,760 $1,671,651
30,587
211,199
def.5,185
V. 106, p. 2009.
Charges,Ac.
Balance.
$315,714
$102,091
1916
300.845
123.622
Pres., Wm.
Mgr., C. G. Lunday,
Stamps, Ark.; Treas., J. A. Buchanan, Texarkana, Ark.—(V. 110, p. 970,
REPORT.—For year ending Dec. 31 1917 in
Year—
Gross.
Net.
1415,
$1,658,042
$417,804
1.670,948
424.367
Buchanan, Texarkana, Ark.; Gen.
1973.
2192.)
A LOUISIANA & NORTH WEST RR.—Owns Magnolia, Ark., to Natchi¬
toches, La.. 115 m.; trackage. Magnolia to McNeil, 6.4 m.
On Aug.22
1913 Geo. W. Hunter, St. Louis, was appointed receiver. V. 97, p. 521, 595.
In October 1919 the receiver sought authority to abandon the road be¬
tween Natchitoches, and Gibsland, La.
Sale was ordered but no bids were
received.
Application was subsequently withdrawn.
V. 109, p. 578,1273.
1920 that a new branch line from about 2 miles north of
Stated in Jan.
Homer, La., to the oil fields west of Homer,
between 5 and 6 miles, would
be built.
Stock out, $2,300,000; par,
$100.
1st 5s of 1905, V. 82, p. 628; V. 85,
p. 1462.
Car trusts May 1 1920, $12,000.
For year ending June 30 1916,
gross, $273,137; net, $21,937; 1914-15, gross. $245,039; oper., def. $17,147;
int., taxes, &c., $151,076; def., $168,223.
For cal. year 1917, gross,
$302,667; net, after taxes, $45,963—(V. 108, p. 784, 1936; V. 109, p. 578,
1273).
A LOUISIANA
Shreveport, La.,
Gravel Pit, 2.84
000; par, $100.
RY. & NAVIGATION CO.—Owns New Orleans to
303.25 miles; Aloha to WInnfleld, 27.14 m.; McNeely's to
total, 333.23 miles.
Stock outstanding 1918, $8,131,On Aug. 9 1918 passed out of Federal control.
m.;
Jan.
Net
Year
1-Mar. 31
1920.
EARNINGS.—
$980,143
104,883
Gross
ending—
Gross.
Net.
1919.
$855,866
def.60,156
Jan. 1-Dec. 31
1918.
1919.
$3,542,033
249,857
$3,078,058
492,084
Other Inc. Int.,Tax., Ac. Bal., Def.
$104,360
$634,388
$530,028
492,085
21,621
773,526
259,820
759,483
Dec. 31 1916— 2,142,164
673,983
14,023
700,309
12,303
Pres., Wm. Edenborn, New Orleans; V.-P., W. CoughJin; Treas., Paul
Sippel, Shreveport; Sec., J. J. Tippin.—(V. 107, p.
802, 1191.)
Dec. 31 1919
$3,542,034
Dec. 31 1918— 3,078,059
Dec. 31 1917— 2,497,535
★ LOUISIANA SOUTHERN RY.—Owns New Orleans. La., to Pointo-a-Ia
Hache. La., 45 m.; Poydras to Shell Beach. 16 m.; total, 67 m.
Steam
for freight and gasoline motor cars for passenger service.
Operated since
June 1916 by New Orleans Texas & Mexico Ry. tinder 12-year lease made
Feb. 1911 to St. L. Ac San Fr.
In Jan. 1901 the United Ry. A Trading Oo.
of New England acquired over 95% of the stock and bonds, that company
also owning the Kenilworth Sugar Estates, 10,000 acres.
V. 76, p. 706.
Stock.$1,000,000:parA100. Divs.In 1900-01,7%; 1901-02,7H%; 1905-06.
4H % •
Year ending Dec. 31 1917 (as reported by lessee), gross, $235,685;
net, after taxes, $81,668.
Deduct hire of equipment (net), $5,759; rental,
$56,807; other, $589; balance, surplus, $19,580.
This last item under
terms or lease is applicable first to bond interest, second to dividend of not
Places Where Interest and
Dividends are
and Maturity
A
Payable
J July 1 1961
A
A
"s Sept 1 1927
O To 1923
I
A
l«
5
A
Guaranty Trust Oo.NI
Sep 15'lt IH% Checks mailed
Guaranty Trust Co, N Y
o Oct
'20-Apr '25
J
&
J Jan
1 1945
A
A
1 1935
J
A
O Apr
J
5 g
M
A
s Men
6 g
J
A
J July 1 1921
5 g
J
g
4 X
250,000
750.000
2,240,000
2.500,000
1,000
500
1895
4 g
700,000
5g
4 g
M
4,500.000
72,000.000 7 in 1919 F
3.258,000
4* g M
J
6 g
b4,989,000
J
1,000,000
£ 8
M
3,500,000
£8
M
3 g
c2.997.000
M
dl,749,000
£8
M
e4.705,000
£8
4 g
J
f64,766,000
4.000.000
4H g M
F
986,000
£8
M
g559,000
£8
F
k 1996,000
5g
F
14.619.000
208 1881
gold—xc*
208 1881
Second M gold East St Louis to Evansv As br.xc*
202 1887
First M (50-year 5s) $15,000 per mile gold__Us.xc*
1888
First mtge collateral trust ($7,000,000) gold__F.zc*
1890
Unified mortgage for $75,000,000 g—Ce.xc*Ar» Text
179 1895
Mobile A Montgomery joint M $5,000,000 g—Ce.xc
160^ 1881
Pen A At 1st M gold drawn 110 assumed
xo*
10 1881
1.000
Henderson Bridge Co 1st M gold drawn 105_Ce.xo*
105 1887
1,000
Nashv Flor & Shell 1st M g assumed In 1900.Ce.zo
254 1890
1,000
Paducah & Mem Dlv 1st M $6,000,000 gold. Ba.xc*
t 8
202 1886
1,000 m9.292.000
Sou A Nor Ala 1st M(V 97. D 1204.1426)g gn Ce.xc*
£8
202 1913
5 g
1.000 Acc n7,400,000
Gen cons M $25,000,000 g guar
Us.xc*Ar*
1895
1,000
4* g
1,330,000
Newp & Cln Br 1st M g s f assum gu by Penn Co.F jc
L Ac N—Southern Ry Monon Ooilat Joint M $15.4 g
1902
1,000 Ac 05.898,000
500.000 (see text) call 105
G.xc*&r
213 1915
1,000 p7.870.000
Lexington At East 1st M $20,000,000 assumed N.yc*
£8
247 1887
4 9
1,000 a6.702.000
Kentucky Central 1st M ($7,000,000) gold__Mp.zc"
c$3. 000; d $15,000; e $424,000; f$3,879,
b to j: Also held in treasury Dec. 31 1919: b $11,000;
m $708,0 00r
I$217, 000.
n $3,3 91,000.
k to t—Also in treasury Dec. 1918.
k $100 000.
1 1919
Dividend
Last
_
Louisiana & Arkansas—Stock $7,000,u00 authorized.
First mortgage $7,000,000 gold (text)
G.xo*Ar
Equip notes $8,000 due annually
—
Equip notes Ser "D" due $13,000 semi-ann
G
Louisiana & North West RR—Underlying M gold —x
held Jan.
77
Control.
Oct
"s
R
1
Y
Wlnthrop & Co, N Y
S P Co, 120 B'way, N Y
Bk of Amer. NY;As Louis
1 1946
1
Mch
N
See text
1 1950
J July
A
Ai
Boody, McL A Co.
July 1 1953
New York
1965
1945
J P Morgan A Co. N Y
K 71 Broadway. New York
A
A Feb 10 1920 3
A
N Nov
J Jan
1931
1930
do
do
A
do
do
A
J Jan
do
do
A
S Moh
do
do
A
S Mch
do
A
N May
N Nov
1930
1921
1980
1937
1931
1940
1945
1921
1931
1937
do
do
A
A
J
A
S
A
A
A
July
Sept
A Aug
S Sept
A
A Aug
A Feb
F
A
A
A
A
O Oct
J
A
A
A
J
A
J July
P
000;
g
Aug
O
do
$1
do
do
do
do
do
do
do
do
do
do
do
1946
do
do
1936
do
do
1963
do
do
1945
do
do
J
July 1 1952
Apr 1 1965
P Morgan
Ad Co,
N Y
71 Broadway, New York
J July 1 1987
L420,000; J $126 .000.
,^u,
$ 15. 500.
o
do
p
$2,625 .000.
q
$40,000.
exceeding 2H % on stock, the balance if any to be divided equally between
In April 1919 there were reported $1,000,000 bonds issued
authorized.
Pres., J. S. Pyeatt; Sec., Treas. & Aud., M. Eckert.
Office, New Orleans, La.—(V. 95, p. 618.)
lessor and lessee.
or
★ LOUISIANA WESTERN RR.—{See Map oj southern Pacific).—Owns
from Lafayette, La., to Sabine River, 105 miles; Abbeville to Mamou. 68 m.l
Mallard Jet. to Lake Arthur, 34 m.; total, 208 miles.
Operated indepen¬
dently.
Annual compensation under Federal contract, $875,178.
ft. 974. Southern Pacific 10% yearly; In 1907-08, stock.
owns all the $3,360,000 85%;
1905-06 and 1906-07,
n
V. 108,
Dividends:
1908-09.
in
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%.
Year 1918
standard return, $895,178; other income, $128,638; int. and other deduc¬
tions, $236,402; divs. (15%), $504,000; bal., sur., $283,414. For cal. year
1917, gross, $3,653,550; net, after taxes, $1,480,230; gross 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.)
★ LOUISVILLE HENDERSON & ST. LOUIS RY.—ROAD.—Louisville
Henderson, Ky.f 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 1918
owned $1,544,276 or 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 $90,000 4K% equipment notes of 1912, Series A, due
$30,000 yearly Sept. 1919 to 1922 and (Dec. 31 1918) $110,000 misc. obligs.
Federal Compensation.—$343,915 53 yearly during Federal control.
Jan. 1-Mar. 31
Jan. 1-Dec. 31
EARNINGS.—
1920.
1919.
1919. *
1918.
Gross
$747,330
$686,183 $2,914,103 $2,858,463
Net.
221,738
133,744
661,209
853,644
REPORT.—For year ending Dec. 31 1919:
Federal compensation, $352,755; other income, $6,444; int., rentals,
taxes. &c., $207,775; bal., sur., $151,424.
to
Cal. Yrs.—
Net.
Gross.
Other Inc.
Int.,Rents.&c.
Surplus.
1917 J
$2,226,649
$682,005
$15 248
$334,836
$362,417
Pres., R. N. Hudson; V.-P., W. L. Mapother; Sec., Ridgely Cayce;
Treas., L. W. Botts.—(V. 108, p. 1165; V. 110, p. 1290).
★ LOUISVILLE &
JEFFERSONVILLE BRIDGE & RR CO.—One-half
viaducts IK miles, with connecting
and about 60 acres in Jeffersonville.
mile long; approaches 2 miles; overhead
lines in Louisville; 40 acres in Louisville
U. S. RR. Administration May 1918 sanctioned capital outlays,
$155,000.
Stock, $1,425,000; mtge. for $5,000,000; bonds for $500,000 are
reserved
the bonds are guaranteed 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 respectively.
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. 89, p. 529.)
for future construction, Ac.;
★ LOUISVILLE & NASHVILLE RR.-(Se« Mao.)—ROAD.—Operates
main line, Cincinnati, O.. to New Orleans, La.. 921 m.; branches to St.
Louis, Memphis, Ac., 4,120 m.: total. Dec. 31 1919. 5.041 miles, viz.:
Miles.
Miles. |
39
Owned, property deeded
...4,270 Operated under contract
143
Entire capital stock owned
450 Under trackage arrangements..
do
(owned but leased).
Operated under lease
134
5
Reporting Separately (Making 7,688 Mi les Owned and Associated Jan. 11920).
S
Nashville Chatt. A St. Louis
993 Other lines
21
•Georgia Railroad System
565 Owned but leased to other cos
do
Paducah A Mem. Dir...248
•Louisville Hend. A St. Louis...182
•Chic. Indianapolis A Loulsville.658 Deduct (Incl. in trackage above) ..65
♦
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 $36,720,000
of the present $72,000,000 stock, but the roads are operated independently.
V. 74. p. 830. ld8; t. 75. p. *33. 1399.
'
'
DIVS.
P01-'04. '05-'07. 1908. '09.
'10 to '14. '15. '16. '17. *18. *19.
Slnoe 190015 y'ly
6 y'ly
5H
5H
7 y'ly
5
6.
7
7
7
Also In I9(fo 1% in Louisville Property Co. stock.
V. 86, p. 229. 421;
BONDS.—The remaining $117,000 Gen. Mtge. bonds of 1880 were
called for payment at 110 on June 1 1920.
"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 lien.
See abstract of mortgage in V. 51.
.....
^
613; also V. 72, p. 1034,1188; V. 77, p. 968.
In Jan. 1919, of $67,780,009
$3,857,000 was In treasury and $21,000 In sinking funds.
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., Y. 101, p. 1272.
Louisville A NashviUe Terminal 4s.—Jolnty guaranteed, prln. 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 Ry. Monon Collateral Joint Gold 4%
bonds are secured by $9,796,900 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. 693.
Of the $15,500,000 Joint bonds $11,827,000 had teen
issued to Dec. 31 1918. 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 Knoxvllle 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:
p.
^
Issued,
Mobile
Atlanta Knoxv.
& North, bonds, $1,500,000.
The line from Livingston to
V. 80, p. 872; V.
Jellloo, 61 miles. Is subject to prior Hen of Unified mtge.
84. p. 1428; V. 92. p. 117$,
1311.1565; V. 06. p. 716. 1022.
★Government
78
RAILWAY STOCKS AND BONDS
Contract.
Date
Par
Amount
Rate
When
Road
J
Bonds
Value
Outstanding
%
Payable
1896
1902
$1,000
1,000
1,000 Ac
r$999,000
500,000
s24.745.000
2,001,000
7,500,000
2,275,000
Louisville & Nashville {Concluded)—
Atlanta Knoxviiie A Northern am mtge gold.Ce.x
do
consol M gold $10,000 pm.Us.x
X. & N—Atl K A C Div M $50,000,000—IJs.xc*&r
LAN Term M $3,000,000 gold guar Jointly -Ba.xc
228
228
870
1905
1902
1,000
500 Ac
1920
redeemable (see text)__fc.Ba.c*
1913
1,000
JEqulpt certs g ser a due $325,000 a-a
FL.xc*
1919
do
Series B $7,323,000 (due semi.arm)
Louisville New Albany fit Chicago—See Chicago India napoll 8 A Lc> als"v"uie7
20
20
Lykens Vail RR & Coal Co—Stock—Rentalpays4%
1,000
97 1896
Ylacon fit Birmingham—First M $600,000 g —OB.xc
Secured gold notes
Dividend
Last
Miles
RAILROAD COMPANIES
IFor abbreviations, Ac., see notes on first page.
[Vol. 110.
Control.
Places
Where Interest and
and Maturity
Dividends
1 1946
do
D Deo
are
Payable
do
5 g
J
4 g
MAS
1 2002
do
do
t Z
4 g
MAN May 1 1955
J
A
D Deo 1 1952
do
do
A
do
do
J P Morgan A Co, N Y
MAN May 15 1930
do
do
J
A
D Jne *20-June' 23
5 g
s-a
See text
to *34
...
Preferred stock
1.000
1,000
1884
Macon Terminal—1st
1907
1915
93
$1,840,000 g gU-.N.xxc*
M $3,000,000 g gu-Colc*Ar*
Mahoning Coal RR—Stock. Common
Macon Dublin fit Sav—1st M
1,000
"71
50
50
71
(see text).
63
First M Youngs to And Ac guar o A 1 (end)-.Un.zc
Maine Central—Com stock and scrip ($15,000,000).
A
July 1 1920 2%
A
July 1 1946
600,000
f *
Jan
1 1947
A
5 g
1,629,000
A
July 1 1965
5 g
1.600,000
See text
A
1,500,000 See text.
Jan 2 '20 2^%
A
5
661,367
A
July 1 1934
5
1,500.000
Oct 1 1919 1M
Q—
14.888,400 6 In 1919
5
Sept 1 1919 1
Q—M
3.000,000
J
A
D June 1 1923
5
587,000
A
D Dec 1 1935
16,000.* too 4M&5
1 1933
A
J Jan
1.000,000
A
A Aug 1 1920
1,300,000
A
A Feb 1 1921
5
400,000
1 1954
A
J Jan
3K g
2,500,000
A J2 July 2 1950
172.500
J2
A
4 g
J July 1 1955
864,000
100
100
Pref stock 5% cum non-voting, $3,000,000
Collateral trust bonds for Mt Desert Branch.AB.zc
41
1883
1,000
411
48
1915
1893
1890
48
1891
139
42
1904
1900
1,000 Ac
1,000
1,000
1,000
1,000
500 Ac
04
1st & Ref M $25,000,000 call at 102 A lnt
c*Ar*
Maine Central Eur A No Am refunding mtge gold.z
First M Penobscot Shore Line RR Co assumed
z
1905
1.000
66
K A L 2d M (for
$400,000) assumed
BBz
Washington County IstM g gu red
Ce.zc*
Somerset Ry Consol M g ($247,500 were m treas)-z
First and Refunding mtge $1,500,000 gold_.ABz
4
600,000
\*
_
Guaranteed Securities—
Portland A Ogdensburg stock (2%
rental 999 yrs).
Hereford Ry stock (rental 999 years)
First mortgage guar prin and lnt (endorsed)
1
4
A
z
5
A
6
A
1889
1,000
53
63
100
1890
1,000
800,000
800,(XX)
2.494.100
350,000
1,043.000
100
126
55
100
500
1890
65
Ac
14
100
100
200,000
Of the South A North Alabama RR.
Gen.
Consol. 5s ($25,0(H),000 auth
by the L. A N.;
remainder for Im¬
V. 98, p. 454, 156. 1001.
Lexington A Eastern 5s were assumed in 1917 (authorized.$20,000,000)
101, p. 1272; V. 102, p. 1163; V. 104, p. 1489; V. 106, p. 296. 396.
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 Cin.
Dlv. 4s, 1955; $200,000 South A North Ala. RR. Consol. 5s of 1936;
$3,000,000 South A North Ala. RR. 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.
provements, equipment, Ac.
V.
to
Compensation.—$17,310,494 67 yearly during Federal control.—
108, p. 1165, 1390.
EARNINGS—
1920.
1919.
1919.
1918.
$29,656,678 $25,005,561 $107514,965 $101392.792
3,094,672
3,157,375
14,970,827
21,835,820
Net
REPORT.—Year
1919:
1919.
1918.
$17,298,920 $17 310,495
2,680 200
2,512,826
"Standard return"
Income from other
sources.
Gross Income
Deduct—Rents for leased lines
..$19,979,120 $19,823,321
$164,032
$222,198
46,257
42,002
7,410,430
241,227
7,449,828
71,899
803,650
921,220
137,242
89,412
5,040.000
96,815
170,319
5.040.000
$6,046,869
$5,809,037
Bond, Ac,, interest..
Corporate expenses
;
....
.....
Taxes
Accrued premiums on sinking fund bonds
Sinking funds, Ac
Dividends (7%)....
Balance, surplus..........
Calendar Years—
1917.
Net. after taxes. Ac....
Gross Income...J
Deduct—Rents, Ac
Sinking
on
1915-
1916.
..$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
revenues
Interest
funded debt
funds
Dividends
Balance, surplus
$11,941,499 $11,922,810
$4,536,902
OFFICERS,—Chairman, Henry Walters, N. Y.; Pres., M. H. Smith:
V.-Pres., E. L. Smithers; Sec. A Treas., E. S. Locke.
Office, 71 Broad¬
way, N. Y.—(V. 110, p. 871, 970, 1642, 1741, 2075.
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)
organization expenses and taxes.
In 1919 operated by Penn. RR. Co.
under agreement of ,ease dated Ju,y 29 1914 (retroactive to Jan. 1 1911).
—V. 92, p. 527.
to
years
A MACON & BIRMINGHAM RY.—Owns Sofbee Jet. to La Grange, Ga
96.70 miles.
7.03 miles of G. S. A F. Ry. and 1.10 mile of O. of Ga. Ry
between Sofkee and Macon operated under
trackage rights.
V. 101,
p. 449,
In 1908 a receiver was appointed; now H. W. Miller.
V. 86, p.
,
$2,101.
?ear 19.19c.£ross' 8255,525; net, after taxes, $22,007; other income.
Loans A bills payable Dec. 31 1919, $49.481.—(V. 101,
p.
449.)
& SAVANNAH RR.—Owns road from Macon to
Vldalla, Ga., 92 miles.
Stock, $3,200,000 auth.; outstanding, $2,040,000
(par $100).
Seaboard Air Line Ry. guarantees bonds, prln. and interest
Bonds, Series 1506 to 1529 incl., have clause "Federal Income tax, If any
on same. Is to be paid by purchaser."
V. 89, p. 43; V. 84, p. 102, 450;
V. 106, p. 1126.
For
year
1919, gross, $670,566; net, $6,165; other income,
$9,950; deductions, $30,307; bal., sur., $14,192.
Pres., James A. Blair Jr.,
N. Y.; Sec. A Treas., Geo. M. Norwood.—(Y. 110, p. 1526, 1642.)
★ MACON TERMINAL CO.—Building, tracks, Ac., at Macon, Ga.,
com-
Sleted and is usedlinesCentral of Georgia,which own the $100,000 stock and
Georgia Southern A Florida and
outhera Ry. (all by entering Macon),
guarantee the bonds,
prin. and int., by endorsement.
Rental
V. 101. p. 1886.
W. A. Winburn.—(V. 101, p. 1886.)
basis
covers
int.
on
bonds and all chatges.
on
on
wheelage
Fed. Mgr.,
★ MAHONINQ 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 in perpetuity for 40% of gross earnings to Lake Shore (now N. Y
Central), which Jan. 1 1917 owned $865,900 com. and $399,500 pref. stock
LATE DIVS.—
On com._
r95-'06. *07-09. *10. *11. *12 *13. *14. *15 to'19 May'20
1lOyrly 12 yrly 66
70
20
70 60
5fi%yly. 60%
Dividends 1915-19, 20% yly. (10% s.-a.) with 30 extra in Julv or Aug.)
The 5% pref. stock guaranteed is callable at par. See V. 107. p. 1579.
—(V. 110,
p.
A
A
1642.)
s
do
do
Y, Boston A Portland
Office, Dover. Me
Y, Boston A Portland
N
Treas office, Portland
A Portland
N Y, Boston
Treas office. Bangor, Me
Office. Portland, Me
N Y,
Boston A Portland
office, P'tl'd
Treasurer's
Office, Rockland, Me
1915 authorized retiring $10,000,000 of
outstanding stock and Issuing In place thereof $3,000,000 5% non-voting
pref. stock and $7,000,000 First A Ref. 20-year 4Hs.
V. lOl.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: V. 102, p. 1250; V. 103. p. 1407.
the
cum.
common
°
7U.
stock.\ 7 y'iy.
m.
incl. trackage, 0 11m. St. Johnsbury
from Portland Union Sta. to Windham
Line,
Me.;
Sta..
Quebec
J^t., N. H.. to Lime Ridge, P. Q
0
a
108 m.; total Dec. 31 1919. 1,216 miles
operated under leases. 15 trackage and 8 ferry.
FEDERAL CONTRACT.—The Federal contract,
signed in Dec. 1919,
^ixes the company s annual compensation at $2,955,696. V. 109, p. 2263.
1912 to Oct. 1919
6 yearly (1H Q-J)
'11.
7H
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;
be issued only for improvements when the earnings
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.
There are also $163,000 Maine Shore Line 6s assumed, due 1923. ,
Guarantees bonds and notes of Portland Terminal Co. See that company.
and $5,000,000 may
1H
first mortgage on about 323
Portland to Bangor and on
,
Equipment trusts issued to Director-General for rolling stock allocated
See article on page 3.
Jan. 1 -Mar. 31
Jan. 1 -Dec. 31
EARNINGS—
1920
1919.
1919.
1918.
Gross
$3,969,179
$4,026,800 $17,525,178 $16,415,178
Net
def.808,200 def.328,723
5,114.000
385,432
to this company.
„
_
110, p. 1290, shows:
Combined Results, Federal and
ANNUAL REPORT.—For cal. year 1919, V.
Income Statement Showing in 1918 and 1919
Corporate, Excluding United States Rental.
Calendar Years—
1919.
1918.
1917.
1916.
$17,525,178 $16,415,178 $14,125,577
2,722,379
def.1,185,835 def.518,426
Gross income...
3,163,913
def.761,005 def.134,754
816,609
Interest on funded debt.
941,641
805,872
1,245,779
Rentals, Ac
1,642,219
1,474,600
150,000
Preferred dividends (5%)
150,000
150,000
720,888
Common dividends (6%)
720,888
720,888
230,637
Balance, sur. or def_.def.4,215,753def3,286,114
Operating revenues
Operating income..
_
_
$12,824,676
3,402,597
4,022,837
848,992
1,577,093
150,000
720,888
724,370
The corporate income account shows: Income from lease of road to U. S.
Government, $2,998,417; non-operating income, $490,865; comparing with
$145,726 in 1918; operating expenses, $266,314, against $99,653; gross in¬
come,
$3,222,968, against $3,044,490; net income, $1,085,971, against
$972,193: balance, surplus after dividends, $185,884, against $85,259.
Pres., Morris McDonald; V.-P. A Gen. Mgr., Dana C. Douglass; V.-P.,
G. 8. Hobbs; Treas., L. M. Patterson.—(V. 110, p. 970, 1290, 1415.)
MANCHESTER
&
LAWRENCE
RR.—See Boston
A Maine RR.
A MANHATTAN RY. (ELEVATED).—Owns all the elevated railroads In
boroughs of Manhattan and the Bronx, N. Y. City, main line and branches,
37.67 miles, with 92.63 miles of 2d, 3d, 4th and 5th track, track, sidings,
Ac.; total track, 130.30 miles; 3d rail electric.
The 2d, 3d and 9th Ave.
lines, under agreement with the city made in March 1913, have been largely
3-tracked, the Interborough Rapid Transit Co. supplying funds.
LEASE.—The Interborough Rapid Transit Co. leases the road for 999
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.. V. 76,p.480.
Status of stock, Ac., V. 108, p. 1610.
Jan. 1920 div., see Interborough
years from
R. T. Co.-
Stockholders'
Committee.—Alfred
Skitt,
William A. Day,
and Frederick Strauss.
Chairman,
Alvin W. Krech, J. H. McClement, Starr J. Murphy
V. 109, p. 1891.
BONDS.—Consols beyond $40,000,000 may be Issued for extensions at
$300,000 per mile of single and $600,000 per mile of double track.
Of the
bonds, $12,712,000 are tax-exempt.
After all the $5,409,000 2d M. beads
have been issued, all further capital expenditures must be financed by the
Interborough R. T. Co.
V. 103, p. 1118: V. 51, p. 248; V. 87. p. 285.
In Feb. 1916 $4,523.000 4 % 2dM. bonds were sold to reimburse the Inter¬
borough R. T. Co. for Improvements and additions furnished under lease,
Ac.
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 nald franchise tax 1900 to '08 ($4,876,545)
REPORT.—See report of Interborough Rapid
V.
109,
p.
1175; also V. 108,
p.
171.
Transit Co. for 1918-19.
In the following table the interest
and sinking fund on that company's bonds, issued for third tracking and
otherwise improving the Manhattan Ry., are shown as an independent item,
since the legal position of the Manhattan Ry. with respect to the same
under
the
has
lease
not been
determined.
As
to
decreased business in
1918-19 due to opening of new subways, see Rapid Transit in
V. 108, p. 2241, and V. 109, p. 174.
1918-19.
1917-18.
f916-17.
N. Y. City in
1915-16.
$18,575,002 $18,657,280 $18,411,254 $16,534,276
4,467,593
6,593,954
7,875,689
7,563,324
Gross income.
4,579,951
6,692,130
7,951,279
7,676,705
Interest and rent paid,.
2,297,022
2,073,845
1,867.199
1,746,710
Guar, dividends (7%)_.
4,200,000
4,200,000
4,200,000
4,200,000
Gross oper. revenue
Net, after taxes
p.
Johnsbury, Vt., 138
08-T0.
8 y'ly-
'07.
f *04-*0fl.
DIVIDENDS—
On
System, 103 m.; Oquossoc to Kennebago, 11 m.; Bath to Rockland, incl.
ferry (0.60 m.), 49 m.; Belfast, Harmony, Foxcroft, Bucksport and Mt
Desert, incl. ferry (7.7 m.). 157 m.- Washington County, 139 m.; Portland
m.
N Y. Boston A Portland
do
do
$5.74 0,000.
Int. A sk.fd.Int.R.T.bds $2,185,640
«
N Y. Boston A Portland
do
do
N
★ MAINE CENTRAL RR.—Portland to Vanceboro, Me., via Augusta.
267 miles (Including trackage Portland to Falmouth, 7 miles); branches,
Royal Jet. to Skowhegan via Lewlston, 90 m.; Bath to Lewlston and Farm¬
ing ton, 79 m.; Oakland to Kineo Sta., 91 m.; Portland and Rumford Falls
aud
Boston
do
do
1 1928
...
Miscellaneous rents and tax accruals
Railway
Trust,
Y, Boston A Portland
STOCK.—The stockholders In
are
Equipment trusts issued to Director-General for rolling stock allocated
this company.
See article on page 3.
Jan. 1 -Mar. 31
Jan. 1 -Dec. 31
Gross
$1.000.
r
Issue), $7,400,000 have been sold, guar., prln. A Int.,
$lO,0OO,OOO are reserved to retire the 1st 5s of 1886;
Federal
American
N
Maine Cent Off. Portland
July
May
May
Apr
May
May
A
M
do
do
Office, Portland, Me
28 '20
July 1 '20 2H%
1 1929
1920 2%
1 1930
1 1920 2H
1920 3%
1 1930
July 1920 2H%
May 1920 2H%
A
4H
•
Y
Rumford Falls RR—See that company
Manch. & Lawrence—Bonds—See BAM RR above
V.
A
A
•
4 A 4H
5
122.000
19
M
5
coupons ever paid
New York Trust Co, N
Nov
Q—F
4*
175.000
No
Columbia Trust Co, N Y
Grand Cent Term. N Y
Cent Union Tr Co, N Y
Feb
A
4
17
European & Nor Am stk 5% rental 999 years
Upper Coos RR stock 6% rental 999 years
1st M and Exten M ($693,000 4Mb) guar p A l.z
Dexter A Newport stock 5%
Eastern Maine stk 4 H % rental 999 years
Portland Terminal Co.—See that company.
A
4
1.000
1908
110
1st M g uar prln A lnt end (V. 86, d. 1285)
t
A Piscataquis stock 5% rental 999 years..
First M Dexter to Foxcroft guar by end
BBz
Dexter
Portland
2
1 00
4,392,538
2,119,000
122,000
100
110
Office Broad St Sta.Phila
Surplus to lessee.._def.$l,917,071
$418,285
$1,189,995
$1,884,080
$737,900
$1,729,995
$336,765
Stone & Webster Report, N. 109, p. 2440.
Pres., Alfred Skitt; Ask. Sec .-Asst. Treas., P. V. Trainque.—(V. 110,
78.
A MANILA RR.—(Gauge, 3 ft. 6 in.)—This company, organized in New Jer¬
In 1906, has taken over and is operating the only steam road on the
sey
Island of Luzon, Philippine Islands, 550 miles (V. 88, p. 1313; V.
In operation
Southern
In
Dec.
lines.
1917,
Additional
purchased all the outstanding stock for
939. 1031; V. 102. p. 609, 251. 2166.
1916-17 the Philippine Govt,
$4,000,000 cash.
V. 103,
91. p. 215.)
315
miies of Northern lines and 308 miles
mileage has been under construction.
p.
A&
RAILWAY STOCKS AND BONDS
Mat, 1920.] *S'm
79
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rate
When
Last Dividend
Places Where Interest and
[For abbreviations, Ac., see notes on first page]
Road
Bonds
Value
Outstanding
%
Payable
and Maturity
Dividends are Payable
7
Q—J
1890
1913
$100 $60,000,000
1,000 &c
40,684,000
4,523,000
1909
L000"&c
4 g
&
4
&
5 g
&
Manhattan (Elevated) Ry. N Y—Stock $60,000,000Manhattan Elev cons (now 1st) mtge gold_Ce.xc*&r
37
37
2d M $6,409,000 g call at 105 (see text)
Eq
Manila—1st M Sou Lines g lnt gu s f red 11QF— xc* &r*
do
do
sinking fund
New 1st M & Kef on Nor Lines $13,236.000
Ce
37
See text
1917
1916
""T.666
1906
£20 &c
1906
£20 &c
1,000
1,000
1,000
A
4 g
4 g
13,714,000
Pledged
Apr 1 1920 1% 165 Broadway, N Y
&
O Apr
&
D June 1 2013
N See text
11990
do
do
do
do
Philippine Nat. Bk.
N May 1 1959
J July 1 1950
do
ao
New York
Bonds
of Underlying Co. in Hands of Public—
Manila Ry
A" debentures call 105
do
"B" debentures 4% redueed to 33^ %-Manist & N E—1st M g due 40M y'ly red text-CC.xc*
Manitou & Pike's Peak Ry—1st M $500,000 g__F.xc*
Manitoulin & North Shore—See Algoma Eastern Ry—
text
1909
1909
9
1908
Marion & Rye Valley Rv—First mortgage
x
Md Del & Va—1st M $2,000,000 auth gold guar ..xc*
Marshall & East Texas—1st M gold call 102 --SSt.xc*
18
1902
1905
Manistique 8c Lake Sup—Inc M 4% n-c $1,300,000 _z
68
77
92
£2,000,000
£1,880,000
1,100,000
1,132,000
500,000
500
334
UpsV
175,000
2.000,000
1.180,000
1,000
1.000
60 &c
1,000
1,000
1911
1882
J&J
4
A&O Oct
5 g
J
8c
F
5*
&
Feb
Jan
1 1931
M
&
Apr
M
&
Mch
11932
1 1951
A
&
J
&
M
&
J
&
Apr 1 1951
Oct 1 1923
May 1 1936
June 1 1955
*
(Southern Lines) 1st gold 4s of 1909, guar¬
by the Philippine Goverumnt under Act of U.S. Con¬
BONDS.—The Manila RR.
as
to Interest
$13,714,000 have been Issued,
time at 110 or by lot for a sink¬
ing fund of
of 1% yearly 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 June 1917, under agreement of sale ratified Sept, 8 1916, $4,330,000
Northern Lines First Mtge. 6% bonds and $7,716,000 2d Mtge. 7% bonds
were canceled
as
of July 1 1916.
Io lieu thereof there were Issued $13.gress, are limited to $30,000,000. of which
The bonds are redeemable as a whole at any
236,000 Manila RR. Co. 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 & B deb. ttock 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,$86,000 Class B, the interest rate en the latter being re¬
duced from 4% to 3H%.
The A and B issues thus to be first and second
charges, respectively, on the $13,236,000 new 1st M. 6% 40-year bonde of
the American ce. and on about $2,009,900 Southern Lines 1st M. 4s.
See
also V. 102. p. 2166; Y. 103. p. 145. 493. 1032; V. 103, p. 1888.
Earns.
Gross.
'
Net.
Total Income.
Charges.
Balance.
,
$4,689,755
$1,384,182
$1,490,819 $1,366,448
sur.$124,371
3,578,075
1.620.133
1,793,524
1,385,204
sur. 408,320
Pres., Manuel Quezon, Manila.
Gen. Mgr., E. J. Westerhouse, Manila.
Non-resident Secretary. L. V. Carmack, Insular Bureau, Washington,
D. C.
Corp. office, 15 Exchange Place, Jersey City.—(V. 105, 0. 1802.)
1918
A 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, I 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, $21,000,000.
REPORT.—For year ending Dec. 31 1917—see V. 106. p. 2011.
Cat. Year—
Gross.
Net.
Tot.Inc.
Charges.
Balance.
$547,771
$32,682
$58,035
$66,471
483,161 def.9.745
16,531
68,475
Pres., Edw. Buckley, Manistee, Mich.—(V. 109, p. 1366.)
1917.
def. $8,435
def. 51,943
★ MANISTIQUE & LAKE SUPERIOR RR.—Manistique, Mich., on Lake
Doyles, 15 m.; V. 81, p.
p. 97; V. 89, p. 470.
The Ann Arbor RR. In Apr. 1911 acaulred the entire $250,000 stock.
V. 92. p. 1109.
Bonds auth., $1,300,000 25-year 4% non-cum. incomes. * On Dec. 31 19H8. gross, $195,048; net,
$7,792; taxes (incl. war), $6,620; other income (deb.), $7,454; net deficit,
$6,283; Government compensation, $21,558.
For 1917, gross, $180,647;
net, after taxes, $31,522.
Pres., Newman Erb, Toledo, O.; V.-P. & Gen.
Mgr., E. F. Blomeyer, Minneapolis, Minn.—(V. 110, p. 1089.
Michigan, northerly to Evelyn. 42 m.: branch to
975; V. 87,
AMAN1TOU & PIKE'S PEAK RY.—Manitou, Col., tosummlt of Pike's
Peak, 8.9 miles; standard gauge.
Operated from April to November yrly.
Stock, $500,000; par of shares. $100.
Div., 40% paid In 1913-14; 1915,
Sept., 10%; 1916, none.
For year end. Dec. 31 1919, gross, $50,604; net,
loss, $6,330; other Income, $900; bond int., $25,000: misceli., $650; def.,
$31,080.
Pres., H. J. Holt, Manitou, Colo.—(V. 106, p. 2011.)
Marlon to Sugar Grove, Va.,
Controlled by United States
Spruce Lumber Co.
Stock, $100,000, par, $100.
Dividend 1915, 6%.
Bonds $175,000 6s, see table above.
V. 90. p. 1472.
Year ending June 30
1916, gross, $86,138; net, $33,291; Int., &c., $22,392; bal., sur.. $10,899.
A MARION & RYE VALLEY RY.—Owns
18 miles.
A reorganization in June 1900.
Pres.
&
Gen. Man., J.
O. Campbell; Treas., L. A. Amsler; Aud., B. S.
Charlton, Marion, Va.; C. H. Miller,
Fairmont, Va.—(V. 95, p. 1472.)
A MARSHALL & EAST TEXAS RY.—Formerly owned from Elysian
Fields, via Marshall. Tex., to Winnsboro, on M. K. & T,, 92m.
On Jan.
25 1917 Bryan Snyder, Marshall, Tex.,was made receiver.
In 1918 sold
under decree of Federal Court and operations have been discontinued.—
(V
110.
p
1290,
1973 )
★ MARYLAND DELAWARE & VIRGINIA RY.—Operates Love Pt., Md.,
Lewes, Del., 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.& Vlr. Also
owns 10 steamers on the Potomac River. &c.. but on Aug.
20 1914 was
ordered to dispose of practically all its water lines; at last accounts the mai¬
mer 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. 8. Maxcy, H. F. Palmer.
—(V. 110, p. 562.)
Bondholders' Protective Committee.—(V. 110, p. 1290.)
to
Federal
Compensation.—$49,543 yearly during Federal control.
Stock, $3,000,000. of which one-half each of common and 4% non-cum.
prsf.; 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.
Bait. Ches. & Atlantic Ry. (Pennsylvania RR. system) in
Dec. 1918, owned all the common and $300,600 pref. stock, and guarantees
bonds.
In 1918, compensation, $49,543; other Income, $1,849; charges,
156.483; def., $105,091.—(V. 110, p. 465, 562, 1290.)
A MARYLAND & PENNSYLVANIA RR.—Baltimore, Md
77.19 miles; other mileage, 3.50.
.
to York. Pa.
$1,997,600 reserved for conversion of notes (see below) and future requirements
la 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 & Peach
Bottom 5s and $100,000 additional for future purposes. &c. 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 July 1 1923.
No mortgag9 can be made without pro¬
STOCK AND BONDS.—Stock authorized. $3,600,000, of which
London
do
Detroit
Jan 1919
prin&int unpaid
New York and Chicago
Bank of Marlon (Va.).
(Treasurer's Office, Phila
See text
11955
&
See Tle.& Tr.Co. York,Pa
Brown Bros. N Y & Bait
1914 to Sept *19 none pd
Alex Brown 3c Sons, Bait
do
do
J P Morgan & Co. N Y
Feb 1 1920, 3% Safe Dep & Tr Co, Bost
Apr 1 1937
Mercantile Tr Oo, San Fr
Merch Nat Bk, Meadv.Pa
July 1 1921
July 1 1943
Jan
*
anteed
11928
July 1 1922
J
5 g
40
202.450
Maryland & Pennsylvania—York & Peach Bot M..x
80
1901
4 g
897,000
First mortgage $1,200,000 gold call at 105-MeBajcc*
1901
80
text
900,000 See
Income mortgage $900,000 4% cum call par.. MeBa
1913
100 &c
6 g
300.000
Notes $500,000 gold red 10234
MeBa.xc*
1906
1,000
200,000
Maryland & Pa Ter 1st M $200,000 g gu red 110._xx
5*
1905
378
12,000,000
1,000
Mason City & Ft Dodge—1st M g
Ce.xo&r
37
100
800.000
6
Massawippi—Stock guar same dlv as Conn & Pass—
I§07
5
1.000
1,200,000
McCloud River—First mortgage $1.200,000
x
"22 1891
5
1,000
200,000
Meadviiie Conneaut Lake & Linesville—First mtge_.z
See text
1913
6 g
1,000Sec
Mem Dal &Q—lstARefM$3,600,000g red textMStxc*
1908
6 g
1,000
420,000
Mem Paris & Gulf—1st M gold red 103 begin 1919.x
5 g
1913
l.OOO&e
2,500,000
Memphis Union Station—1st M g guar_.Ba.xc*r*
See text
5
1913
1,000
Meridian & Memphis RR—1st M $800,000 red 105. .
4 g
3.27
1905 1,000 Ac
250,000
Meridian Terminal—First M $250,000 g gu__Gxc*&r
Mexican Central—Mexican International—See Nation al Rali ways o f Mexico
6 g
16
1899
b326,000
Mexican Mineral—1st M $500,000 g red 110 s t
Gx
100
3,000,000
Mexican Northern—Stock, $3.000.000^
"83 1890
6 g
a708.000
1,000
First mtge U 8 gold red 105 s f ext In 1909_G.xc*&r
£10
£2,254.720
Mexican Ry Limited—Ordinary share capital stock..
£10
£2.554.100
First preference stock 8%
£10
£1,011.960
Second preference stock 6%
£10
6
403
£2.000.000
Perpetual 6% debenture stock
£100
1909
£477.700
2d debens £1,000.000 auth red par since 1912 s f
434
a Exclusive of $53,000 held by sinking fund,
b $2 4.000 addltlo nal In sin king fund.
119987
15 Jan 15 1956
A&O 15 Jan 15 1956
M
&
S Aug 1 1934
J&J Jan 1919-1939
1 1928
M
&
J
&
Nov 1 1959
Jan
1 1943
M
&
May 1 1955
F
&
A Aug
J
&
D Dec
Bankers Trust Co, N Y
UnBk&TOo.Jacks'n.Ten
Guaranty Trust Co, N Y
82 Beaver Street,
1 1919
N Y
May 1 *13 1^% Office, 82 Beaver St. N Y
1 1930
Nov 6 '13.1
Nov 6
do
do
K% Glyn.Mllls.Currie&Co.Lo
'13,
4%
Nov 6 '13,
3%
do
do
do
do
J
&
Perpetual
See text
A
&
Dec 1960
See text
viding for the notes. V. 97, p. 1115, 951.
Maryland & Pennsylvania Ter¬
minal guaranteed bonds.
V. 82, p. 1041, 1102.
Equipment
notes Dec.
1919, $18,500.
V. 96. p. 203.
Paid on incomes, 1901, 3%; 1902 to Apr.
1914, incl.. 4% yearly (2% A.& O.); none since to and Incl. Apr. 1920.
REPORT.—For year ending Dec. 31
1919; Gross, $659,624; net, after
Pres., O. H.
taxes, $96,922; interest and rentals, $76,962; balance, $19,959.
Nance.—(V. 100,
p.
397; V. 101,
p.
1092, 1973.)
★ MASON CITY & FORT DODOE RR.—{See Map Chicago Great West.)—
Owns road from Oelwein, la., to Council Bluffs, 259 miles; Hayfleld, Minn.,
to
Clarion, la., 100 m,; branches to Lehigh and Coalville, la., 19 m.; track¬
Council Bluffs to So. Omaha, 8 m.; total. 386 m. The Chicago Great
owned Dec. 31 1918 entire outstanding com. stock ($19,205,-
age,
western
762 of the $14,000,000 auth.), and operates the road as part of its main line
to Omaha under a lOO-ysar agreement dated Apr. 30 1901,
and modified
D. receiving 60% of earns, on business interchanged.
Compare Chic. Great Western Ry. and V. 73, p. 566, 616,722; V. 77, p. 640;
V. 78, p. 1782; V. 80, p. 2621.
Earnings incl. In those of O. G. W. system.
1274; V. 99, p. 1451.)
June 1904, M.O.&Ft.
MASSAWIPPI
VALLEY
RY—Province Line to
Lenoxvllle, Que., 34
miles, with branch, 3 m ; trackage to Sherbrooke, Que,. 3 m.; total, 40 m.
Leased for 999 years from July 1 1870 to the Boston & Maine RR.
Stock,
$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
purchased in 1910 under its option at par.—(V. 92, p. 1108.)
was
A McCLOUD RIVER RR.—Owns from Slsson, Cal.. to McGavlc, 50.6 miles.
Stock.
$1,200,000.
Bonds ($1,200,000 auth.). Mercantile Trust Co., San
V. 85. p. 1005.
For year ending June 30 1916,
Francisco, mtge. trustee.
gross,def., $6,058. Pres., Jl, H. Queal, San Francisco.—(V. 85, p. 1005.)
al., $313,880: net, $53,646; other Income, $7,140: Interest, &c„ $06,844;
AMEADVILLE CONNEAUT LAKE & LINESVILLE.—Meadvilleto Lines
vllle, Pa., 20.5,miles, and branches,
1 mile; total, 21 6 miles.
Leased
to July
1 1990 to Pittsburgh Bessemer & Lake Erie RR ; rental. 25% of
fross(2% A. 8c O.) For year ending $50. Dividend In 1913 $35,957; net,
earnings. Stock. $200,000; par, Dec. 31 1918. gross, to Oct-1919.
%
$33,777: bond Int., 410.000: rentals. $15,777; dlvs. (4%). $8,000; bal..
For year 1917, gross, $31,602; net, $30,446.—(V.96 p. 709.)
sur.,none.
★ MEMPHIS DALLAS Sc GULF RR.—Owm from Ashdown to Hot
Springs, Ark., 114 miles; Ashdown to Texarkana, 20 m.; Graysonia to
Leard, 0 m.; Daleville to Dalark, 11 m.; total. 151 miles.
Extensions pro¬
posed north to Memphis, Tenn., 255 miles, and south to Dallas. Tex.; 186 m.
Compensation under Federal control, $28,296; contract signed April 12,
1019.
V.
Stock
108. p. 1610.
authorized, $7,675,000; par,
the 1st and ret. 30-year gold
$100;
outstanding $1,027,000.
6s ($3,600,000 auth. Issue),
Of
$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
V. 96, p. 237, 887.
At last advices
at $11,000 »er mile In 5-mile sections.
$1,632,000 First 8c Ref. Mtge. bonds had been authenticated and interest
remained unpaid since Jan. 1915.
For year ending June 30 1916, gross, $330,865; net, $58,814; 1914-15.
f-oss, $270,439; net, $42,909; Interest,
cal. year 1917, gross, $270,954; net,
or
&c., $45,571; bal., def., $2,662.
after taxes, $34,785.
Pres., W. W. Brown, Camden, Ark.; V.-P. 8c Gen. Mgr., O. C. Hender¬
V.-P., A. O. Ramsey; 8ec.. J. W. Bishop; Treas., W. H. Toland;
son:
—(V. 10/, p. 1385; V. 108, p. 1610.)
★ MEMPHIS UNION STATION CO.—Owns union passenger station at
Memphis, Tenn., used by Loulsv. & Nashv., Nashv. Cfiatt. & St. Louis
Southern Ry. and by Missouri Pacific and St. Louis Southwestern, since
April 1 1912.
Interest charges and expenses are apportioned among the
lines on 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. Scales, Memphis,
Tenn.; Auditor, C. T. Pennebaker, Memphis, Tenn.—(V. 97, p. 1025).
★ MERIDIAN & MEMPHIS RR.—Owns Meridian, Miss., to Union, 33
miles, with terminals at Meridian.
In Jan. 1918 the Gulf Mobile &
Northern (which see) purchased the outstanding securities ($500,000 stock,
$1,675,000 1st M. bonds and $260,000 collateral notes), but the properties
are operated separatelv.
V. 106, p. 296; V. 105, p. 2543: V. 103, p. 1118.
In 1916 the Meridian 8c Tombigbee River Ry. was Incorporated as successor
of the Meridian 8c Deepwater Ky.. partly built, from Meridian west to
Tombigbee River, 47 miles.
Pres.. J. 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 & Ohio, New
Orleans & 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.
MEXICAN RY., LTD.—City of Mexico to Vera
„
Cruz, 264 miles; Pueblo
branch, Aplzaco to Puebla, 29 m.: Pachuca branch, Ometusco to Pachuca,
29 m.: Zacatlan branch (narrow gauge), 33 m.; Huatusco branch (narrow
Huajuapan branch narrow gauge. 28 miles; total June 30
Jointly guarantees debentures of Vera Cruz Terminal Co.
military authorities took over the line and no returns
were rendered to the company.
In Sept. 1910 the Carranza Govt, sur¬
rendered possession, but in Apr. 1917 again took charge.
V. 105, p. 290;
1802; V. 104, p. 1489; V. 109, p. 674.
In Nov. 1917 had taken over the
operation of the Tehuantepec National Ry., extending from Coatzacoalcos,
Gulf of Mexico, to Sallna Cruz, on Pacific Ocean, 188 miles; and operating
gauge). 20 in.:
1914 403 miles.
On Nov. 18 1914 the
Ry. (Nat. Rys. of Mex.), Picacho to Suchiate, 285 miles.
1999; V. 84, p. 222.
Pan-American
V. 105. p.
* Government
80
RAILWAY STOCKS AND
Contract.
APrivate
BONDS
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rate
When
IFor abbreviations, Ac., see notes on first page]
Road
Bonds
Value
Outstanding
%
Payable
Mexican Sou'n Ry—1st M 4% deb stk red at par 90 yrs
Prior lien bonds
Mex No West—Prior Hen bonds £2,500,000 red 102H
1st M gold red text
Conv Inoome bds £1,000,000 6% cum red par a f.c
Michigan Central—Stock
1.200
Refunding A Impt Mtge SI00,000,000—.
270
First mortgage $18,000,000 gold—
O.xc* <5cr
115
M C Michigan Air Line first mortgage
Un„xcAr
171
1st M on Det& Bay City
Un.zc
do
do
bonds without coupons.„_zr V
171
Debentures gold
G.xc* &r*
84
M C new M on Gr Riv Val *4,500,000, g text.Gxc&r
39
M C first mortgage on Kalamazoo AS Haven.xUn.r
Mich Cent 1st M on Jack Lans & Saginaw g ._xc* &r
379
M C 1st M on Jollet A Nor Indiana *3,000,000 g.x
45
..........
---
_
-
-
Equip. Tr. *4,500,000 (*300.000 annually) gu.gyc*
Equipment trusts N Y Central Lines, which see—
Mich CentEq Trust, due *600,000 s-a
G.c*Ar
Bay City & Battle Cr 1st M g gu p A 1 end.Mp.zc*
Battle Cr & Sturgis 1st M g guar p & 1 end.Mp.zc*
TolCanSo ADetlstM*4,500,000 g gu (end) G.xc* Ar_
Detroit Riv Tunnel Co
18
41
59
DIVS. (Sfnce'04.)1905.
First
pref
%\
pref.
.
Common
%
%
f
J
1906.
1907. 1908.
5*4 7 1-16
8
—
IK 4 13-16
—
REPORT.—For 21
£20 Ac
1917
1902
iTooo'ac
1890
1881
1881
1909
1909
1889
1901
1.000
1,000 Ac
1,000
""Y.OOO
mos.
—
1909.
—
—
to Dec. 31 1918 in V.
1913
••
1910
-
-
A
O Apr
S Sept
M
A
N.Nov
3h e M
A
M
i*
A
do
1959
1939
do
do
Reg at G C T; cp at G Tr
10 July 10 1957
Guaranty Trust Co, N Y
O Oct '20-Oct '30 New York and Phila
To Jan 1 1928
_
S
J A J
t g
5 g
Sept 1 1951
A
a
3 g
J
A
J
A
Dec
1 1989
4 g
J
A
Jan
11956
Grand Central Term, N V
6 g
M
A
250,000 See
text M
5 g
J
812,000
A
Nov 1 1933
Nov 1 1933
A
July 1 1960
Empire Trust
3o, N Y
Bankers Trust Oo, N Y
July 1912 eoup not paid
Vs
200,000
"Y.ooo
...
1911
1.000
Various
..
S Sept 1 '20-'32
Dec 1 1989
1 9-16
p.
Union
Trust
Co,
N
Y
do
do
1 1943
1 1953
1.025,000
323.375
1 1931
*2 93,000 purchase d and
1912
_
A
A
5,224,000
O Apr
fig
5.512.500 Up to5% Sept. 1 Apr
25
8
6
do
Grand Central Term, NY
do
do
do
do
1929
3.100.000
500-1000
.
1913
5 g
A
J
10
A
A
O Jan
New
See
J July 1920 5%
retir ed by La nd Grant
York
Phfla
and
text
Office, Philadelphia. Pa
Reading Term, Phila, Pa
Trustees.
As to
3Ha of 1902, see V. 74, p. 728; V. 76. p. 102; V. 83, p. 1229.
Firs
on Joliet A North. Ind.. see V. 84. d. 1367: 1428: V.
100. p. 556, 642.
Toledo Canada So. & Det. 4s, V. 104,
p. 1600; V. 82, p. 930; V. 85, p. 400.
In April 1909 an issue of *25,000.000 4%
8
6
8
6
4s
254
2>4
20-year debentures was autnorOf
the *4,500,000 authorized
4s on
Grand River
Valley RR.,
*1,500,000 are reserved for double-tracking, Ac., 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
Ized.
674.
perpetual debenture stock and
a
V. 88.
749; V. 93. p. 28, 1324, 1463; V. 95, p. 176; V. 97, p. 521, 695.
As to 6%
cumulative convertible income bonds, see V. 94, p. 1027
limited to £2,500,000, secured
prior lien on the entire property.
Red. at 102 *4 any time on 6 months'
notice.
Trustee, Nat. Trust Oo., Toronto. Ltd.
V. 96. p. 285. 1229.
The payment of coupons was deferred, owing to financial conditions in
Europe and Mexico.
V. 99, p. 674.
The Issue of 16-year prior-lien 6% bonds is
a
OFFICERS.—Pres. and Receiver, R. Home Smith; V.-P., Miller Lash;
L. R. Hoard, O. W. Borrett; Sec. and Treas., R. H. Merry.—(V. 107,p.1101
★ MICHIGAN CENTRAL RR.—(See Maps New
York Central Lines)
OF
ROAD.—Main
line—Kensington
to Detroit, 272 miles,
and Windsor to Suspension Bridge (Canada Southern), 381 m.;
Branches
—LINE
owned and
leased, 1,108 m.; trackage (111. Cent.) into Chicago under per¬
petual lease, 14 m.; other trackage, 80 m.; total Jan. 1 1919, 1,802 mues,
with 664 m. of 2d track, 6.97 m. of four track and
1,613 m. side tracks, Ac.
Chicago Kalamazoo A Saginaw Ry., Pavilion to Woodbury, Mich., 55 m.f
Is controlled but operated independently.
V. 84, p. 50.
Shareholders
votedJune 81916 to purchase 15 subsidiaries, including all those mention
in bond table at head of page except Detroit River Tunnel
V. 102,
Oo.
p. 2254.
Has considerable interest in Indiana Harbor Belt RR.
See that
co. and V. 106,
p. 2018.
Third-rail electric Detroit River Tunnel, 2.72 m. long, Is leased for 999
710; V. 91. p. 276; V. 92, p. 1499; V. 98, p. 236.
In Sept. 1918 the officers were authorized to sign the contract with the
U. S. Government after slight modification.
V. 107, p. 1192.
Federal Compensation.—*8,105,727 yearly during Federal control.
The U. S. RR. Admin. In 1918 sanctioned mpt. outlays of
$4,426,225;
equipment, *15,601,332, and had made the company a *4,000,000 6% de¬
mand loan.
V. 106, p. 2194, 1901; V. 108, p. 2340.
The Director-General during 1918 allottea to company 2,000 freight cars
and 30 locomotives, estimated to cost a total of about
*7,259,000; 827
freight train cars and 20 locomotives were delivered during the year.
The
financing of the cost was in June 1919 being arranged between the DirectorGeneral and the company.
V. 108, p. 2340.
CONTROL.—The N. Y. Cent. A Hud. River RR. Co. in April 1898 gave
*115 in its 3 *4 % 100-year gold bonds for *100 stock, and so holds *16,819.
800 of the *18,738,000 stock Issued.
See that company's statement (also
V. 93. p. 1787; V. 96, p. 1424, for proposition looking to ultimate merger.
LATE DIVS.— /'91. '92-'94.
'95-'05. '06. '07. '08. '09-*14.1915to'19.
Since 1890
%\ 5
5* y'ly.
4 y'ly.
5
8
6
6 y'ly
4%yrly.
From Jan. 1916 to Jan. 1920, 4% p. a. (2% s.-a.)
V. 101, p. 48.
BONDS —The
*100,000,000 Refunding A Improvement mortgage of
about 1,200 miles of directly owned road, also leaseholds.
bonds^wlll 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 exceed 70%
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.
covers
new
In June 1918 none of the Ref. A
Impt. bonds had been sold but of the
$8,000,000 authorized in 1917 $6,171,000 were issued during 1918, all of
are held by the company and
pledged as collateral for short-term
V. 108, p. 2339; V. 106, p. 2018, 2123, 1901.
Battle Creek A Sturgts bonds for *500,000, but of this *79,000 was subguaranteed by the Lake Shore A Michigan Southern
(now merged into
the New York Central). 7 miles, being operated by that company.
iMch
Q— M
A
Reg at G C T: cp at G Ti
Cent. Union Tr Co, N Y
1940
1931
1931
See text
1913
NORTH WESTERN RY.—Owns and controls 540H miles
to Tabalaopa
La Junta to Mlnaoa
6.34
475.78 Cumbre to Chuiohupa(building) 6.08
which
loans.
"20
1952
49,000
X421,000
1917
1913
BONDS.—Present limit 1st M. 5s, £8,459,700; issued, £5,600,000.
The
S Mch
A
Sept 1914 coup deferred
Sept '13 coup deferred
1st coup Mob 1913
2% Grand Cent Term'l, N Y
A
Ac
299
y
Payable
m
T0~0~~Ac
299
1910. 1911
109,
100
are
6
1913
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, Ac., plant at Ei Paso. Tex.,
capacity 100,000,000 ft. per year.
See V. 88, p. 749; V. 89, p. 348, 470;
V. 94, p. 1627; V. 96. p. 287.
Stock. *40,000.000 (par *100), of which *25.000,000 issued.
1916,
A
!
3.300.000
8an Antonio to Cuslbuirlachlo. 13.05
^
Owns over 3,000,000 acres of timber lands, with 2 mills at Madera with
Ac.
A
N May
J Jan
4 g
6,719,962
7,200,000
Ac
1,000
1,000
1,000 Ac
Juarez
p.
y
ITOOO
1917
1889
1889
1906
(Chihuahua)
V. 90,
J'Jan 29
A
M
1,500.000
OFFICERS.—Chairman, Sir Ernest Paget; Sec., Thos. Linton, 53 New
Broad St., London, E. O.—(V. 80, p. 222; V. 101, p. 130.)
years.
J
1 1959
S15!
M A
3H g M
J
4
7.634.000
1,500.000
700,000
1,707,000
1907
MEXICAN SOUTHERN R Y.. LTD.—Puebla to Oaxaca, Mex.. 228 miles,
all narrow-gauge; branch, 31 m., Tehuacan to Esperanza; Oaxaca to San
Pablo, 16 m.; Oaxaca to Tlaooluia, 20 m., opened Jan. 1912; other, 7 m..
total, 302 miles; sidings, 19 miles.
Tehuacan tram lines. 5 m., standard
gauge, and Oaxaca tram lines, 7 m., narrow gauge.
Ord. stock, £1,000,000Tbe road passes June 8 1990 to the State without payment, except for
stations, rolling stock, Ac.
V. 79, p. 2642.
Leased from Jan. 1 1910 to
Interoceanic 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 beeD
received from Interoceanic Ry. for period subsequent to June 30 1914, an
extension of the moratorium was agreed to. V. 101. p. 130; V. 99, p. 674
Int. on 2d debs, (now 1st) payable only out of profits on Feb. 1 A Aug. I*
by
1928
MAS Mch
4
J 4,000,000 {
1,000Ac
4H 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
(£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.
8ee V. 109, p. 2172.
Office, 1 Broad St. Place, London, E O., 2.—(V. 109, p. 674, 676.)
p.
Ac
1,000
1,000 Ac
Dividends
{1928
6
18,000,000
2,600.000
Places Where Interest and
Maturity
See text
certificates
MEXICO
and
a See text
A
6
£1,671.000
5 g
£5.600.000
£750,000 Up to
*100 c*18731000
14
•
8
7 3-16
8
3*4 15-16 4 7-16
The plan for funding the Interest on the
Cludad
F
Last Dividend
See that company
Of which *16,819,300 held by NY Central RR Oo
Anadditional *79,000 is guar by N Y Central RR.
Second
1912
See text
1915
lst consol M J1,000,000—........—
Midland Val RR—1st M g red 102H beg '16 -QPxc*
Adjustment mtge (2d Income) gold red parFP.xc*
Wichita & Midland Val 1st M g gu red par
xc
Mill Creek & Mine Hill Navigation fit RR—Stock
x
£100
£100
4
£864.000
07-13
m mm
Mlddletowri & Unlonv RR—1st M *500,000- Ba.y
Second M 6% non-cum adjust lnc bonds red par_.y
Midland Pennsylvania—1st M *2,000,000 gold red s I,
c
1896
1913
1913
1909
[VOL 110.
Control.
Mar. 1919 the *7.800,000 unmatured certificates
See V. 108, p. 97$; V. 106, p. 2018.
were
placed
as
6 per cents.
•
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 1918 being *1,041,702, $2,757,723;
$1,365,398 and $2,623,595, respectively.
V. 85. p. 1402; V. 86. p. 168
V
88. p. 761; V. 90.
p. 1677; V. 92. p. 807.
4- Equipment trusts issued to Director-General for rolling stock allocat¬
ed to this company.
See article on page 3.
Jan.
EARNINGS.—
Gross
1 -Mar. 31
1920.
Jan.
1919.
1 -Dec.
1919.
31—~
1918.
...*20,489,947 *16,764,194 $78,844,385 *68,520,087
4,153,894
3.265,752
21,002,571
17,450,014
Net
annual REPORT.—Report for 1917 in V. 108, p.
2324, 2339.
Years ending Dec. 31—
1918.
1917.
1916.
Railroad
revenues
Net from operations
Government
compensation
Operating income after taxes
Other income
Gross corporate income
Rentals leased lines—4.
Interest
on
bonds, Ac
Other rents and miscellaneous
Hire of equipment
Depreciation
Additions, Ac
Expenses apphc. prior period
Dividends
_
*68,520,087 *52,879,434 *46,418,790
17,450,015
14,590,298
15,772,529
8,052,127
12,604,655
14,076,169
902,980
869,802
936,830
*8,955,107 *13,474,457 *15,012,999
*2,774,022
*2,775,914
$3,259,907
2,077,363
2,712,266
1,993,942
1,534,159
1,000,709
647,425
3,547,351
2,274,352
500,000
252,604
1,700,984
2,021,705
(4%) 749,456
749,456
749,520
-
Balance, surplus
def*201,598
*2,436,157
*3,886,932
Pres., A. H. Smith, N. Y.; V.-Pres., E. D. Bronner, Detroit; Treas,,
W. E. Hackett.—(V. 110, p. 871,
970,1415,1642).
A MICHIGAN EAST & WEST RY.—Manistee to Marion. Mich., 72 m
Operations suspended.
In March 1918 was denied au hori y tofiscontinue
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. For
yea ending Dec. 311917, g oss, netdef., *28,692; int., en als, &c., *16,602;
deficit, *44,909.
P es., J. S. Joyce; T eas., F. P. Leffin well, both of Chiago.—(V. 107, p. 596.)
AMIDDLETOWN
&
UNIONVILLE
RR.—Mlddletown,
N.
Y..
to
Unionvllle, N. Y., 13.05 miles.
Has an agreement with the N. Y. Ontario
A Western Ry. for the use in
perpetuity both of the terminal in Middlstown and of the mile of track used in entering that city.
Reorganization in 1913 (V. 97, p. 887) of Mlddletown Unionvllle 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 mos. ending Oct. 31 1919), 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.f 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. 106. p. 1797; V. 107. p. 1670; V. 109, p. 72.)
Water
coupons
,
A MIDLAND PENNSYLVANIA RAILROAD.—Projected from Millersburg, Pa., to Ashland, 44 miles.
Stock authorized and outstanding, $2,Bonds authorized. $2,000,000.
000,000.
About $812,300 bonds issued
account of construction. 15 miles, Millersburg to Gratz,
completed in
1916.
Int. defaulted July 1912.
Pres. and Gen. Mgr., Geo. A. Aldricb,
Audubon. N. J.—(V. 95, p. 298; V. 99, p. 467.)
on
A MIDLAND RAILWAY.—Savannah. Ga., to MIdville, 90 miles.
V.
105, p. 1118.
Formerly Savannah Augusta A Northern Ry., sold In 1910
by receiver for $250,000 to W. J. Oliver.
V. 101. p. 450, 1372.
For financing proposed in Jan. 1919, see V. 108, p. 79.—(V.
110, p. 658).
★ MIDLAND VALLEY RR.—Owns and operates from Excelsior
Ark.,
south to Hoye, Ark., and north to Fidelity, Ark.; also from Excelsior west
to Silverdale, Kan., and from Jenks, Okla., to Kiefer,
Okla., a total of
310.17 miles; also operates under trackage from Rock Island, Ark., to Ft.
Smith, 16 m., and Silverdale to Arkansas City, Kan., 9.; leases Wichita A
Midland Valley RR.. Arkansas City 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. 462,790.
ORGANIZ'N.—In 1913 readjusted without foreclosure. V. 96. p. 554.
FEDERAL CONTRACT, signed in Feb. 1920, fixes annual
compensa
tion at *765,679.
"STANDARD
RETURN," Ac.—See
page
5.
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
is 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. Go wen.
The pref. stock is redeemable at par on any div. date after July 11916 on 30
notice, and subject to the right or the Cherokee Construction Co.
(which owns all of the com. stock) to purchase as follows: 1916 and 1917
40%; 1918 and 1919.45%; 1920 and 1921. 50%; 1922 and 1923, 55%.
nays
at
MAP OF
TUB
00
MINNEAPOLIS & ST. LOUIS
RAILROAD & CONNECTIONS.
CO
Q
&
O
PO
Q
&
CO
M
o
o
H
CO
J*
£
M
-<1
03
0
01
<j
n
L1
APrlvate
RAILWAY STOCKS AND BONDS
★Government
82
Contract.
Miles
first page]
Par
Amount
Rate
When
Last
Dividend
Bonds
Valuo
Outstanding
%
Payable
and
Maturity
& Nor tb Wes tern —Se
Paul
$50
37
1905
26
1,000
500 &c
1891
16
Milwaukee ft St
Hill ft Schuylkill Haven—Stock (6% rental).—
Milwaukee ft Northern—See Chicago
Mine
Dale
Road
RAILROAD COMPANIES
IFor abbreviation*. Ac., tee notet on
—
+
m
Pacific Extension first
mortgage gold
First Consol Mclosed M g (V 59, p
Em.zc*
502
1145) _N.xc*ftr
Dodge gold guar p & 1—Ce.xc*&r'
First & Re! M $13,244,000 gold ($18,000 p m)_.Cex
Refund andExtenM $75,000,000 g red lOS.Uxc'&r*
EqTr ser B gold due $18,000 yearly
PeP.xc*
do
Sot O part due yearly
PePx
do
Ser D dus $40,000 each Novl;caIi 102M.PeP
do
Ser E due $170,000 yly Feb 1 call 102H PePc
Am Locomo trusts due $0,250 guar V. 100, p 556—
Iowa Central 1st M 6 (V 49, p 582)
Me.zc*
1st Re! mtge $25,000,000 g (see text)_Un.xo*ftr
Car trusts ser B due $15,000 yrly
Pep.xo*
Hock Coal Co 1st M $600,000 gu red 105 sf—Em.xc*
flinn St Paul & S Ste Marie—Com stock $42,000,000 —
Preferred stock 7% non-cum $21,000,000
Wisconsin Cent leased line ct!s $12,500,000 auth—
Minn Sault Ste Marie ft Atlantic 1st M gold_Ce.zc*
let Cons M g. Int guar (end) ($3,477,000 5s).Ce.xc*
Second mortgage $5,000,000 gold int guar—Ce.x
Chicago Terminal lolnt 1st M ? red text-G.xc*&r*
Car trust Ser C gold due $60,000 semI-annually_Ce.x
do
" Ser D g due $51,000 s-a (V 95. p 750) —_x
do
Ser E g $159.000s-a (V.96.p.203) —Q xc
do
Ser F due $64.000 s-a (V 97 .p 1663). OPc*
do
Ser G due $75,000s-a (V 103 p 1888).Em.c
do
Ser H due $50,000 yrly call 102
c*
do
Ser. I due $260,000 yrly
Ce.c
Fairmont ft Veblin Ry 2d M. bonds
'
100,000
1,000
600 6tc
1,000
779
1912
1910
1912
1,409
1915
1917
—
639
—
250
3.168
1,000
(2) the leasehold Interest In the Wichita ft Midland Valley RR.
of the latter and $460,000 of Ita $503,300
(3) all of the $250,000 stock and $1,250,000 1st M. 6« of the
Sebastian County Coal & Mining Co. owning about 18,500 acres of semianthracite coal lands.
Of the first 5s, $5,000,000 have been issued on
account of retirement of outstanding bonds and other Indebtedness and
Impts., &c., of the remaining $10,000,000 reserved for $85% of the cost of
impts., extens., &c., under careful restrictions.
$224,000 have been Is¬
sued, making $5,224,000 outstanding.
See V. 96, p. 1423, 1489.
The interest on the adjustment M. bonds is to be paid annually, If earned,
but is not to become a fixed charge, and is not to be cumulative unless the
Cherokee Construction Oo. shall exercise the option to purchase the pref.
The
$3,512,W0
Series A bonds have
priority both
as to
lien and
payment of interest over the $2,000,000 Seriee B bonds.
For the year ended June 30 1917 3% was earned, and paid on Sept. 1,
on Adjustment Mtge. Series A bonds (coupon No. 1): 4% interest was de¬
clared payable Sept. 1 '18 for the year ended June 30 '18 (coupon No. 2), but
same was not made until Oct. 2'18 on account offundsofcomp. being under
Government control; 3% interest was declared, payable Sept. 1 '19, for year
ended June 30 '19 (coupon No. 3). V.105,p.l09;V,107,p.l385j V:109,p.888.
stock;
■
Jan. 1—jDcc.
1919.
$3,952,821
539,175
EARNINGS.—
Gross
Net
o
1
1918.
5
&
N Nov
F
ft
A Feb 1
ft
do
do
M
ft
A
ft
o Oct 1 1920
J
ft
J July 1
A
ft
A
ft
o Apr 15
o Apr 15
4 g
M
ft
120,000
255.000
4^
4M
4M
g M
g J
ft
ft
g J
ft
J
ft
do
York
St, New
do
do
do
do
do
25 Broad St. New
do
do
do
do
D June 1 1938
S Mch 1 1951
6.000.000
2,600,000
do
do
'21 to *27
York
July'20-Jan *25
Q-J
J
ft
6 g
New York
Can Paclflo
New York
do
1 '20 to *25
M
J
954,000
512,000
900,000
500,000
St,
Marquette, Mich
Marquette, Mich
First Trust ft S Bk, Chic
do
S Mch 1 1949
do
Feb 1 1962
Q—F
25 Broad
A
ft
O Oct 1 1920
do
M ft
N To Nov 1 1922
5 g
5 g
St,
&
ft
800
all the $ 1,025,0001st M. bonds
ft
M
&
1913
property;
&
J
ft
1,000
1,000
1920
1920
M
i 8
4 g
A
1,000
1,000
1916
mrmrn
5 g
Wall
25 Broad St, New
do
do
do
do
O Apr 1 1921
N Nov 1 1934
J Jan 1 1935
J
1,000
1,000
1913
1913
55
D June 11927
&
g J
1.000 Ac
1,000
1911
1912
6c
A
4 g
8.136.000
1,000
1,000
1911
3,168
J
Wall
All owned by
New
7 K
6 g
60.340,000 4 gft 6
4 g
3.500,000
100
1886
1888
1899
495
Farmers L ft Tr Co, N Y
55
5 g
If
10b
&
N May 1 1925
J Jan 1 1931
J Jan 1 1951
1 1931
J Jan
Monthly To Oct 1 1920
M ft
S To Mar 1 1921
J ft D 30 June 30 1925
§
100
&
J
1,190,000
125,000
5 K
7.650,095
7,156,000
i 8
15,000
161.000
7 in 1919
25,206,800
12,603,400 7 in 1919
4
11,180,900
&c
BONDS.—The first 5s and adjustment M. (Income) 5s, Issued per plau
96, p. 554, are a first and second Hen, respectively, on (1) the entire
cornmoi
18,000
J Jan 15'20
ft
&
J
l\
ll
t*
72,000
240.000
1,000
1,000
1.000
1.000
V.
ana
4.085,956
1.000 &c
1,000
1.000
1,000
1,000
1888
1901
1910
1912
602
700.000
25.792.600
950,000
1,382,000
5,282,000
3,072,000
13,244.000
1.000
1,000
1,000
1915
•
1978
1,000
1905
1899
138
Des Moines 9c Ft
1976
)i
109
103
Where Interest and
Dividends are Payable
2H Office 119 S 4th St. Phlla
&
M
J
J
5H
450,000
593,000 4 g
1,000,000
325,000
94,674
50,000
100
33
Placet
Chicago ft North W estern
$4,210,200
1877
1881
1894
34
'm
e
m
1901
1891
1910
1916
1905
73
Equipment Truat notoa Series 1.
do
do
Series 3.
■
[Vol. 110.
Control.
o Apr
J Jan
York
25 Broad St, New York
1932
1920 3M Minn office; checks mall
do
do
1920 334
12008
Bank
1 1926
of
Bank of
do
J July 1 1938
J Jan 1 1949
Montreal, N V
Montreal, N Y
do
New
York
ft
Lor don
1941
Sept "20-Mch*21 New York
D June'20-June'22 Bank of Montreal, N Y
do
do
J July '20-Jan '23
D June'20-Dec '23 Girard Trust Co., Phila
N Nov 1
s
4»« M&N15 Nov '20-Nov '26 New York
A
&
O Apr 1 '21 to *30 Chase Nat Bank, N Y
7«g
J
A
&
D June
ft
O
Apr
'21
to
'30 New
York
1 1928
of 1899 is limited to $13,244,000.
The mtge. Is a
on 277 miles of road and on $299,500 stock of Railway Transfer Co
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. 295, 452, 506.
See V. 69, p. 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, 8. D., 114.13 miles, and Conde to Le Beau 8. D.,
115.47 miles.
Amount issued, $6,800,000; amount outstanding, Dec. 31
1918, $4,085,956; balance in treas. or pledged for loans, &c. 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, &c., $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. 631; V. 96. p. 136; V. 98. p. 1316.
The $3,072,000 Des Moines ft Fort Dodge 4% bonds dated Jan. 1 1905
were guar., p. ft 1.
V. 79. p. 1704. 2696The $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 Director-General In May 1918 loaned this co. $750,000 on demand,
First Refunding mtge.
1st lien
of
j
adequately secured by collateral, at 6% Int.
j
Compare V. 106. p. 1860.
Equipment trusts issued to Director-General for rolling stock allocated
See article on page 3.
Jan. 1-Mar. 31
Jan. 1 -Dec. 31
EARNINGS.—
1920.
1919.
1919.
1918.
Gross
$3,855,959 $2,803 200 $13,384,871 $12,028,300
Net
381,224 def .253,243
380,350
657,203
ANNUAL REPORT.—Report for cal. year 1918 in V. 109, p. 672, 783.
Calendar Years—
1918.
1917.
1916.
Gross earnings
$12,028,300 $11,005,963 $10,995,223
Net, after taxes.
.1
def.$37,993
$2,593,671 $3,198,632
y Standard return,
2,639,857
to this company.
$3,504,779
882,488
REPORT—Years ended Dec. 31:
Balance,
Oross
Net (after
Other
Interest,
Surplus.
Earnings.
Taxes).
Income. Rents,Ac.
$374,755
$2,927,127
$788,925
$53,665
$467,221
280.111
2.121.166
558,597
53,920
331,213
Office, Liberty
Pres., C. F. Ingersoll; Sec. & Treaa., J. R. K. Delaney.
*■
Building, Phlla.—(V. 110, p. 765).
Cat.
Year—
RR.—Mill Creek Jet. to
track, 3.79 m.;
ft Reading RR.;
by Phila. & Reading Railway, rental, $33,000 & taxes.
180,310
Other Income
x241,547
80,627
$2,820,167
$2,059,542
$2,834,618
$2,063,789
$3,279,259
$2,092,504'
★ MILL CREEK & MINE HILL NAVIGATION &
Broad Mountain, Pa., 4.01 m.; branches, 2.13 m.; second
total track, 60.03 m.
Leased in 1861 for 999 years to Phlla.
lease assumed in 1896
★ MINE HILL & SCHUYLKILL HAVEN RR.—From Schuylkill Haven to
Ashland and Enterprise Jet., 36.72 m.; 2d track, 18.85 m.; total track,
129.91 m.
In 1897rental reduced to 6% on stock under new lease for 999
years from Jan. 1 1897 to Phlla, k Read. Ry. Co.; 2 )4 % Is paid In Jan. and
3% In July, )4 % being deducted for taxes.—(V. 96. p. 1365,1423.)
AMINERAL POINT & NORTHERN RY.—Highland to Highland Jet.
Wis., 26.4 miles; trackage to Mineral Point, 4.2 m.; total, 30.6 miles*
1919, gross.
Stock, $550,000: par, $100.
Bonds, see table.
For cal. year
$104,591; net, def. $13,930; charges, $34,850; def., $48,647.
D. Jones, Chicago; V.-P., A. D. Terrell, Chicago.
Pres., Thos.
★ 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.
"ADVANCES" AND "STANDARD RETURN," &c.—See page 5.
Federal compensation, $144,005 (contract signed).
In 1895 paid dividends of 10 H%; in 1896, 7%; 1897,
7%; 1898, 3 H%:
slnoe.
Stock, $1,500,000;
par, $100.
BONDS.—Consols for $1,000 are reserved for $3,000 old bonds.
Of the
$593,000 outstanding, $339,000 are 5s; the Can. Pao. on Dec. 31 1918 owned
the remaining $254,000 (which are 4s) and the $1,000,000 gen. mtge. 4s,
both 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.
Equip,
trust notes Dec. 31 1918, $361,071, Including deferred Interest.
none
Jan. 1 -Mar. 31
_■
EARNINGS.—
Gross
1920.
Net
Cal.-Years—
Gross.
Fed. Inc.
$147,432
1,184.850
—(V. 110, p. 970, 1642.)
Jan. 1 -Dec. 31
1919.
1918.
$953,226 $1,143,534
def.91,395
42,272
Net.
Oth. Inc.
Chgs.
Balance.
$837 $110,464 sur.$37,805
21,959
9,312
125,570 def. 94,299
1919.
$146,884
def.51,131
_
$251,296
16,323
A MINNEAPOLIS RED LAKE & MANITOBA RY.—Bemldjl to Redby,
Minn., 33)4 miles.
Stock, $100,000; bonds (see table).
For year ending
1918, gross, $125,659; oper. exp., $78,018; net, $47,641; other in¬
$1,008; taxes, rentals and fixed charges, $10,995; int. on bonds,
$35,000; bal., sur., $2,652.
Pres., O. A. Smith; Sec., A. Ueland; Treas.,
A. L. Molander. Bemldjl.
Dec. 31
come,
★ MINNEAPOLIS
&
ST.
LOUIS RR.—(See Map.)— Road includes:
Road Owned
Miles.
Road Owned—
Minneapolis to Angus, la
Des Moines to Ruthven, la
260
138
Hopkins. Minn., to Leola, S.D.330
Gonde to Le Beau, S. D
115
Iowa Jot., III., to Northwood.-375
Total owned and operated
(Continued)—
Miles.
Winthrop, Minn., to Storm Lake.154
Branches
166
Trackage
109
Dec. 31 1917
1,647
Iowa Line. 13 m.. Incl. above.
Leases to O. R. I. ft P.. Albert Lea to
ORGANIZATION.—Incorporated In Iowa June 30 1916 (V. 103, p. 145.
consolidation of Minn, ft Sti Louis RR. of Minn, and Iowa (V.
as
a
p.
371; V. 93,
p.
1668), and Iowa Central ft Western Ry., per plan of
69)
Feb.
19J& V. 1°2, p. 522, 529; V. 103, p. 2163; V. 104, p. 2240.
FEDERAL
tion at
CONTRACT.—Signed in Jan. 1920, *ixes annual compensa¬
$2,812,008.
STOCK.—The new consolidated company has an authorized capital
■txx* of $26,000,000 (par $100), all of one class, of which there was Issued
forthwith $25,792,600, the remainder to be reserved for future needs.
DIVIDS.
Preferred
Common
} '97. '98. '99. '00. '01. *02. '03. '04. '05 to Jan.'10.
(3
3)4 4H 5
5
5
5
5
5 yearly
None
J
None—
1)445
52)4
0
sine ■
BONDS, &C.—Bonds due 1927. Nos. 1101 to 1400, for $500 each, addi¬
tional to those above, were assumed by B. C. R. ft N. (now C. R. I. ft P.)
Total net income
Interest
on
funded debt
Balance,
x
surplus
145,547
Cr.7,410
Hire of equipment
Miscellaneous deductions
127,188
291,090
$651,051
$750,118
Coal Co. stock,
Ry. Transfer.
$74,317,
549,796
$210,829
Increase due chiefly to dividend on Hocking
and Increase of $84,943 in rental from Minneapolis
Contract not yet signed (April 1919).
Chairman, Chas. Hayden; Pres., W. H. Brenner; V.-Pres., F. H. Davis;
V.-Pres., J. S. Bache, L. C. Fritch, F. B. Townsend; Gen. Mgr., E. E.
Nash; Sec., W. D. Davids, N. Y.
Office, 25 Broad St.
Directors.—H. E. Huntington, F. H. Davis, Charles Hayden, J. 8,
Bache, E. V. R. Thayer, Newman Erb, F. P. Frazier. N. Y.; F. C. Letts,
Chicago; F. A. Chamberlain and F. E. Kenaston, Minneapolis; S. B. No¬
vember, Baltimore, Md.—(V. 110, p. 465, 970).
y
PAUL & SAULT STE. MARIE RY.—Owns main
Portal, North Dakota,
line, there connecting with Canadian Pao., 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., 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 ft Veblen Ry., Fairmont to
Grenville, S. D., 87 m.; total owned Dec. 31 1918, 3,152 miles; leases Wis¬
consin Central Ry. (which see), 1,031 miles; total operated, 4,174 miles.
Owned but leased to Minnesota N. W. Elec. Ry., Thief River Falls to Goodridge. Minn., 19 miles.
Late in 1916 became interested in Spokane Inter¬
★ MINNEAPOLIS ST.
line from
Sault Ste. Marie, Mich., via Minneapolis to
at International boundary
national
Ry.
V. 104, p. 1899.
HISTORY.—A consolidation In 1888 of
Minn. Sault Ste. Marie ft Atl.
ft Pac., Ac.
See V. 46, p. 538. 609; V. 77, p. 628.
In 1909 51% of Wisconsin Cent. com. stock was purchased,
Minn,
affording a
leased for 99 years from April 1 1909;
$11476,800 4% leased line ctfs. have been issued (see Wis. Cent.), secured
by Wis. Cent. pref. stock, $ for $. V. 88, p. 232, 564, 686; V. 98, p. 1668.
Int.onWisc.Cent.lst&ref.4s($5,816,000out)ls 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.
Chicago connection, the road being
Federal
Compensation.—$10,547,429 yearly during Federal control.
STOCK.—Canadian Pacific In Jan 11919owned $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. 649; V. 92, p. 882.
DIVIDENDS.—
1 '03. '04. '05. '06. '07. '08. '09. * 1910 to Apr. 1920
Common
%J 2444
466
7 yearly
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-balf Minn, ft Pac. bonds and practically all other Issues
assented.
Abstract of Minneapolis Sault Ste. Marie & Atlantic mtge. in
V. 45, p. 243; Can. Pac. Ry. Co. on Jan. 1 1919 owned $3,993,000 of the
M. St. P. ft 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 reserved
to retire prior bonds) and for $20,000 per mile on all additions.
Outstand¬
amount is, however, restricted to three times the stock.
V. 94,
351; V. 73, p. 185; V. 78, p. 820; V. 79, p. 1332; V. 80, p. 651; V. 87,
1026; V. 95, p. 544; V. 98, p. 1316;
1011, 1664; V. 89, p. 779; V. 91, p. 1
V. 89,
V. 100, p. 812; V. 103, p. 321; V. 106, p. 1126.
100,p.
p.
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 ($20,00u.<*m> autb ) are sc¬
oured under a joint mtge. with Central Terminal Ry. on Chicago terminals
of Minn. St. P. ft 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 H by a sinking fund sufQctent to retire Issue at or before maturity If not purchasaole for lesa.
The
ing
p.
p.
May, 1920.J
83
RAILWAY STOCKS AND BONDS
*&"
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rate
When
Last Dividend
IFor abbreviations, Ac., see notes on first page]
Road
Bonds
Value
Outstanding
%
Payable
and Maturity
■inneiota Transf—1st M s call 102 H 1922 ■ f c*Ar*
Miss Cent—1st M $10,000,000 e gu red> (text) ..Q.xo*
MissRiv & BonneTerRy—1stM $2.500.000 g red 105*
Mo&IU Br & Belt—St C M A St L B 1st M red g-SSt.xo*
Consolidated mortgage $2,500,000 authorized g— *
Missouri Kansas & Texas—Common stock
Preferred stock 4% non-cumulative
1st M g(in '16 Cent Tr Oo resigned as trustee).Us.*
Second mortgage gold..
--Ba-*
First Extension mortgage gold $3,254,000.. Ce.xo*
1916
164
1909
65
$1,000
500 Ao
1,000
1,000
1,000
1911
1901
1904
1,599
1,599
1890
500
500
Ao
163
162
1892
Second mortgage guaranteed, being
Sh Sh & So 1st M ($20,000 p m) g ass
retired—xx
Ce.xxo*
City A Pacific 1st M gold assumed _.Fr,xo*
162
1892
M K A Okla 1st M $5,468,000 g assumed —Ce.xc*
TexasdcOkla 1st M $2,3*7.000 gold assumed.Ce.xo^
227
St Louis Division First Refunding mortgage.F.xxo*
Kansas & Eastern IstM gold assumed—xx
Kansas
182
1890
1902
117
First A Ref mtge $40,000,000
Gen M $20,000,000
gold (see text)__.F.x
gold sink fund red at par.N jro*
SWO & Imp 1st M assumed sink fund call 125—F*
Consoi mortgage $125,000,000 gold authorized—x
Two-year seour g notes ext.ln 1915 red 101--Ce.xo
Equlpt trust notes gold $95,650 due s-a call par.Cex
do
do
Series A $34,000 due s-a
CP
—
Receiver's equipment trusts
Securities ef Allied Companies—
Dallas A Waco IstM $20,000pmggu p Al.Ce.xxo*
MKAT of Tex Receivers* certif $3,000,000 auth-.
M K & T of Tex IstM
66
225
309
1893
i
154
1909
57
378
redllO($150.0004s)F.xc»
1911
v-x
x
There
There
also pledged under Consoi. Mtges.: Of
also $601,000 held in treasury or pieaged
are
are
52
49
1910
1908
1909
1919
v$448 .000;
as
1.340,000
2.241,000
4,505,000
91G.000
200,000
2,000,000
2.098.000
838.000
x3,000.000
729,000
883.000
1,000
1,000
1.850,000
w $6,8 30,000.
1,000
1,000 Ac
1.000
1,000
500 Ac
1,000
1,000
1,000
1,000
1,000
1912
N W 1st M g red 105
FC.xcAr
1st coll Hen M gold s f
FC.xc
First & Rof M goidred 105
Usm.xc*
Wichita Falls A So 1st M $710,000 g gu s f..FC.xc*
Bean A Qt No 1st M g $17,500 p m red 102
Q
San Antonio Belt A Term Ry 1st M notes g text__c
Wichita Falls
o f
Gross
$8,999,582 $42,661,595 $35,995,292
^*128,439
8,254,810
6,304,684
$9,406,765
405,224
_.
REPORT.—Report for year ending Dec. 31
1919:
Year end.
Calendar Years
Entire System—
Average miles operated.
Operating revenues
Net
earnings
Federal
1919.
"
1918
1917.
June 30 *16.
3,172
3,172
3,168
3,168
See
$35,930,292 $34,540,491 $35,010,064
above.
$6,239,684 $11,575,698 $15,928,996
compensation_x$10,430,423x$10,458,l76
928,735
Other income
—
1,652,231
687,386
-
999,261
Gross income
$11,359,158 $11,145,562 $13,227,929 $16,928,258
U. S. RR. A. misc. chgs_
$306,199
$1,038,574
Int. on Wis. Cent, leased
line certificates
447,176
447,079
447,072
446,894
Other fixed charges,taxes
and terminal rentals
_.
450,724
Pf.div.Wis.Oenfc.(4%)
do
M.8t.P.&SSM(7%)
Com. div.
do
(7%)..
8,352,418
450,612
882,238
1,764,476
5,401,747
450,624
882,238
1,764,476
5,714,544
882,238
1,764,476
8,254,929
450,612
882,238
1,764,476
$1,160,824
$1,331,113
$5,129,108
surplus
$1,793,901
compensation less corporate expenses.
Substantially the entire amount of pref. diva, of the Wisconsin Central
are paid to the "Soo" company proper and included in its "other income."
Pres., E. Pennington; Sec., G. W. Webster; Treas., C. F. Clement;
Comp.. O. W. Gardner, all of Minneapolis.—(V. 109, p. 371; V. 110, p.
1642, 1973, 2193.)
Balance,
x
&
O Oot
1 1931
N Y. Callaway, Fish AOo
1st N Bk, N Y A StLouis
&
J Jan
J
&
J Jan
1 1951
1 1951
St Louis Union Trust Oo
do
do
&
5g
5 g
4 g
See
&
lg
Various
%'
O Apr
o Apr
&
Apr
&
A
A
Oct
D June 1 1943
A
F
Apr 1916 int unpaid
1916 int unpaid
Apr 1916 Int unpaid sDec 1915 Int unpaid
Feb 1920 coupon deferred
Nov '19 int pd Apr '20
March *16 int unpaid
March '16 Int unpaid
Jan 1 1916 Int unpaid
Jan 1 1916 Int unpaid
12001
1 1942
1 1942
Aug 1 1990
MAN May 1 1942
MAS Sept 1 1943
MAS Sept 1 2004
A
J Jan 1 1936
J
J
J July 1 1929
A
text A
kS
'13 2% Checks mailed
June '19 int paid Dec '19
Feb 1916 int unpaid
Nov 1915 Int not paid
Junel 1990
June 1 1990
Nov 1 1944
i K
O Apr 1
A
1940
Nov 1915 int not paid
MAN May 1 1916
J
A
D Dec'19-June'23 Dec '19 prln A int paid
J
A
J Jan '20-July '24 Jan 1920 prln A int paid
Monthly
Nov 1 1940
Nov '19 int
F A A
Feb
National City Bank, N Y
M
Sept
M
A
A
15 1921
1942
pd Apr '20
Nov
1951
A
Dec
A
Apr
1932
1923
fig
A
Jan
1939
int unpaid
Nov '19 int pd Apr '20
In '18-'19 coup pd as due
61 Broadway, N Y
Jan 1918 int last paid
f *
A
Jan
5 g
A
5g
A
Jan
Jan
1925
1940
1938
Jan '19 pd
§g
6
A
July
Apr
1939
1924
5 K
4 6
M
5H g J
4 A 5 g
g
A
A
1916
Sept
do
do
do
do
In July
61 Bway, N Y,July'19 p'd
Chase Nat Bank, N Y
coll ateral
$3,000,000 bonds sold represent cash Investment equal at least to their par
value, the remainder being reserved for not exceeding 80% of oost of exten¬
sions and Improvements,
V. 93. p. 1463; V. 95, p. 745
Jan. 1 -Mar. 31
Jan. 1 -Dec. 31
EARNINGS.—
1920.
1919.
1919.
1918.
Net..
19,000,000
760,000
340,000
599,980
1,000
1,000
1892
1901
Boonv Bridge IstMg sfd V.73.p.494_Ce.zc*,[ A i__
Katy Off Bid* Oo 1st M._.
c*&r*
Tex O en tlstM$2,000,000k
See text.
1917
$20,OOOpm._-Ce.xxo*lGu.p.
t*
"Y.656
1890
A
J
i*
f s
£*
5 g
1,000
100 &c
1903
1904
1906
1889
1910
1913
1913
1914
Aug 1 1946
J July 1 1949
4 g
4 g
5 g
Dividends are Payable
N Y and St Paul
A
Nov 10
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
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1893
130
i
K
4 g
1,000 W10421000
1.000
743,000
1894
1901
Missouri
A
13%000,000
Ao
1890
F
J
5 g*
737.000
63,283,257
100
100
—
5 g
$2,143,000
3,560,900
1,639,000
745,250
Places Where Interest and
Federal
★ MINNESOTA TRANSFER RY.—Union road owning 13.54 miles, exictlon
tending from Junction with Chic. MIlw. A St. Paul at Merrlam Park to Fridley (with stock yards, Ac.); side tracks, 89.93 miles; total, 103.47 miles.
V. 104, p. 1045. Stock, $63,000. equally owned by Chlo. Mllw. A St. Paul,
Nor. Pao., 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 & Pacific.
In July 1916 made a new 1st M. for
$3,500,000, callable all or part at 102H. beginning Feb. 1 1922; seml-ann.
sinking fund from 1917, H of 1%.
Pres., G. R. Martin; Sec., F. S. Leavitt,
St. Paul, Minn.—(V. 104, p. 1045; V. 107, p. 697.)
CENTRAL RR.—Owns from a point 14 miles south of
Hattlesburg, Miss., to Natchez, 164 miles.
Stock auth. and outstanding
Jan 1918, $3,940,000; par. $100.
Dividends of 6% year y paid to Oct.. 1
1907; 1913, 1%; 1914 to Aug. 1919, 2% (1% F. & A.); none since to May
★ MISSISSIPPI
1920.
Mo., extending southerly across the Oklahoma and the Texas cotton belt
Galveston, on the Gulf of Mexico, and to San Antonio,
Tex., and Shreveport, La., with branches.
M.K.A T.of Tex.-Leases (501 m.)—
M.K.A T.Ry.—Owned (1663;m.) Miles.
•
Jet. near St. Louis to Red River
Tex. Cent. (99 % stook owned).
629
304
to tidewater at
Hannibal, Mo., to Franklin JotK. 0., 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 Juao. to Verdark, Okla..
Fallls to Guthrie, Okla
Other
105 •Wichita Falls Ry..
18
174
94 Other lines
*
Wichita Falls AN. W. Ry
329
203
158 Op. Jointly (a.) —M.K.A T.Ry.(74 m.)
—
86
132
79
23
154
branches
M.K.A T.of Tex.-Owned (1,118 m.)—
Red Rlv.to Houston.vla Ft.W.
357
Denlson to Hlllsb., via Dallas..
172
Whltesboro to Henrietta
87
Greenville to Shreveport
Other branches
St. Louis to Machens, Mo
Kansas City to Paola....
Dewey to Bartlesville
(5) M. K. A T. of Tex.(176 m.)—
Whltesboro to
Houston
to
Fort Worth
Galveston
'
27
43
4
71
50
Austin to San Marcos (see Int.
A Gt. Nor.; V. 94, p. 416)...
30
Other lines
26
150
(♦See this company.)
353
...3,861
Total operated Dec. 31 1918
In May 1918 received Federal permission to construct a 100-mile con¬
nection between Weldon, Tex., on its Trinity division, and Mart on the
International & Great Northern Ry.
V. 100, p. 2229.
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) and Wichita Falls A Southern Ry., see separate statements for
each, also committees below.
V. 95, p. 1057.
"STANDARD RETURN," Ac.—See page 5.
RECEIVERSHIP.—Pres. Charles E. Schaff was on Sept. 27 1915 ap-
Sdnted receiver for the A W. Seligman A U. S. Circuit Courtreorganization
allgarten A Co. and J. company by the Oo. are preparing a at St. Louis.
plan. V. 105, p. 909, 998,1209.
V. 102,
p.
886. In Dec. 1915 Central Trust
all
Co.. mtge. trustee, filed suit to foreclose Consoi. Mtge. of 1910 (bonds
Sledged as collateral) for default Oct. 1 the First AApril 1910 Farmers' Loan
Trust Co. brought suit to foreclose 1915In Ref. Mtge. V. 103, p.
;
1119.
In Feb. 1917 suit
was
brought to foreclose the $20,000,000 2d Mtge.
In March 1917 to foreclose M. K. A
(See below and V. 101. p. 1973) and
T. Ry. of Texas 1st M.—V. 104, p. 064, 1045.
In June 1918 $2,241,000 5% 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 1
months at
maturity Aug. 15 1918, and later extended to mature Feb. 15 1920 and
again to Feb. 15 1921.
V. 107, p. 697; V. 104, p. 764, 2343, 2452.
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,
p. 998,
1104.
Application for a co-receiver was denied in Oct. 1917.
V. 105,
p. 1617, 1104, 998, 909.
$10,000,000, are Issu¬
Default—Interest Payments.—-On Dec. 31 1918 the Interest matured since
they are subj. to call by lot at 110 for yearly sinking
an entire issue at same price.
Retired by s. f.
to,July 1 1919 $524,100.
They are guar., p. A I., by U. S. Lumber Co.
V. 88, p. 1561.
Compensation contract has not as yet been signed.
Jan. 1 to Mar. 31
Jan. 1 to Dec. 31—
EARNINGS.—
1920.
1919.
1919.
1918.
Gross
$225,841
$234,320
$1,011,409
$1,246,990
Net
——def. 162,293
279,794
def.30,505 def.207,418
REPORT.—For cal. year 1917, in V. 106, p. 76:
Balance.
Gross
Net, after
Other
Int. A
Dies.
Earns.
Tares.
Income.
Sink. Fd.
(2%)
Surplus.
$79,114
1917
$974,749
$250,245 $156,294
$248,670
$78,754
34,535
1916
757,093
204,962
160,504
251,191
78,740
Sept. 27 1915 remaining unpaid aggregated $11,947,620; sinking fund pay¬
$1,731,600.
V. 107, p. 495
The earliest coupon unpaid
on 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
1700, 2074.)
Reorganization Committee.—At a meeting of the directors on May 18 1920
Bonds.—1st M. bonds dated July 1 1909, limited to
able at $25,000 p. m.;
fund of $49,200;
also
as
.
Pres., P. L. Peck; Sec., G. F. Royce; Treas., E. S. Peck; Gen. Mgr.,
L. E. Faulkner; Aud., Chas. Ehlers, Hattiesburg, Miss.
Office, Hattiesburg, Miss.
Fiscal agents, Callaway, Fish & Co., 37 Wall St., N. Y.—
(V. 106, p. 76, 402, 802; V. 108, p. 378.)
RIVER A BONNE TERRE RY.—Owns Riverside. Me.,
Mississippi River, to Doe Run, Mo., 46.44 miles, with branches, 18.10 m.j
total tracks about 108 miles.
STOCK.—Stock auth. and outstanding, $3,000,000: par $100.
Diva.
1900 to 1910.6%; 1910-11. 7%; 11-12. 6%; * 12-13. 5%.
BONDS.—The $2,500,000 1st M. gold 5s of 1911 are secured 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 6 years and
$50,000 a year thereafter.
V. 93, p. 589, 871.
On Dec. 31 1919 $385,000
were held in sinking fund and $476,000 were in treasury of St. Joseph Lead
A MISSISSIPPI
on
also 43.44 miles of industrial tracks;
Co.
RESULTS.—For cal. year 1917, gross, $983,190 (against $757,093 in
1916); net. aft. taxes, $211,494: other income. $124,134; int., rents, Ac..
$139,794; surplus, $195,834.
Year 1918, total net, $286,942 (Incl. other
income, $137,443); income charges, $122,817; bal,, sur., $164,125; dividends
paid, $180,000.
Total profit and loss surplus Dec. 31 1918, $620,675.
Pres.. Clinton H. Crane; 1st V.-P., E. O. Smith; 2d V.-P., F. J. Thomure;
Treas. A Sec., F. H. Dearing.
N. Y. office, 61 Broadway.—(V. 101. p.48.)
ments In default,
the
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.
PROTECTIVE COMMITTEES (see V. 101. p. 1903. 1189. 1272):
Two-Year Secured Gold Notes (Extended and Unextended).—Willard V.
King, Chairman: O. A. Austin, Sec., 60 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 45.—Pres., B. W. Van Vloten. V. 102.P. 154.
Second Mtge. Bonds.—E. G. Merrill, Pres. Union Trust Oe., Chairman;
G. K. B. Wade. Sec., 80 Broadway.
V. 101. p. 11S9,2145; 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.l54,
First Extension 5s of 1894.
John W. Flatten, Chairman; Chauncey H.
Murphey, 55 Cedar St.. N. Y., Sec.
V. 101. p. 1272; V. 102, p. 345.
St/Louis Division, First Mtge. Ref. Gold 4s.—Edwin 8. Marstoa, Pres.
Farmers *Ln. A Tr. Co., Chairman; Augustus V. Heely. 22 William 8t..
N. Y., Secretary.
V. 102. p. 07.
_
_
First A Ref. M. 4% Bond*.—Alexander J. Hemphill. Chairman; W.O.
Cox, Vlce-Pres. of Guaranty Trust Co., as Sec.
V. 103, p. 1508; V. 101,
p. 1093, 1189; V. 102, p. 522.
$6,380,300 deposited June 1917.
General Mtge. 4Ms.—Otto T. Bannard, Chairman: Herbert W. Morse.
Sec., 20 Broad St.. N. Y.; N. Y. Tr. Co.. depositary.
V. 101. p. 1093:
V. 102, p. 253. 1430, 1026, 1989.
$5,305,600 deposited Nov. 10 1919.
Southwestern Coal A Impt. 1*1 6*. due 1929.—Chairman, James B. Col¬
gate; Sec., Sherwood E. Hall, both of N. Y.
Depositary, Farmers' Loan
A Trust Co., New York.
Pref. Stock and Common Slock.—Alvin W. Krech, Chairman; J. Y. Robbins Jr., Sec.
Equitable Trust Co., depositary. V. 101, p. 1272.
Missouri Kansas A Eastern Ry. 1st M. 5% Bonds.—Chairman. John W.
Stedman; Sec., George E. Warren, 60 Broadway, N. Y. Depositaries:
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 1*1 M. 4s.—Chairman, Edward O. Delafield;
Sec., J. O. Traphagen, 40 Wall St., N. Y.
Depositary, Franklin Trust
Co.. N. Y.
Over 70% deposited. V. 102. p. 1163. 1346; V. 103, p. 844;
V. l04, p. 256; V. 105, p. 389; V. 108. p. 579.
Sherman Shreveport A Southern Ry. 1st M. 5s.—R. Walter Leigh, Ohalr,
,
LJI1
^
.
★ MISSOURI & ILLINOIS BRIDOE & BELT RR.—Has bridge 2,100 feet
long across the Mississippi River at Alton, 111.; also 2.75 miles of road.
Owned by O. O. C. A St. Louis, Louisville & Nashville, Chic. Peoria & 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,
$2,500,0)0; outstanding, $143,000.
1918, income from lease of road
$102,518; other income, $647; expenses, interest, Ac., $80,311; bal., sur.,
$22,854.
Pres., Henry Miller; Sec. A Treas., W. F. Bender, Railway
Exchange Bldg., St. Louis.—(V. 103. p. 2156.)
★ MISSOURI KANSAS & TEXAS RY.—Operates a line with north¬
ern terminals at
St. Louis. Kansas City, Junction City and Hannibal,
,
man;^Joseph V. 101, p.52JSVliliam St.,p. 713. Depositary, Columbia Trust
S. Dale, 1274; V. 102. Sec._
Oo.
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Mat, 1920.1 *8SS£r"
RAILWAY STOCKS AND BONDS
85
A£K.
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rate
When
Last Dividend
(For abbreviations, Ac., see notes on first page]
Road
Bonds
Value
Outstanding
%
Payable
and Maturity
1915
Mo & N Ark RR—Rec ctfs $2,500,000 red par
Mo Okla & dulf RR—1st M $20,000,000 (text)_SSt
Mo Okla & Gulf Ry—Receiver's certiflc's $1,750,000
First M $10,000,000 gold
SSt.c*
$1,849,000
$1,000
1,000
6,704,100
1,720,000
5,537,000
885,000
743,034
5
&c
Second M gold
Equipment trusts in 1919
Missouri Pacific RR—
Common stock (auth $200,000,000)--—
Pref stock 5% convert cum 1918 call 107 H
First A Ref Mtge gold
G.c»&r«
Series A callable on or after 1921 107 M A int—y
Series B callable (all) par & int
—y
Series O callable (all) par A Int
y
Gen M $53,000,000 g call par aft 1920— Bayc»Ar«
(1) Missouri Pacific Railway Securities Outstanding
Pacific RR of Missouri 1st M ext In 1887 gold. Bazz
Second mtge ext In 1891 In gold St L to K O.xc*
First mtge St Louis real estate ext In 1892 gold.x
First mtge Oaron Br g gu p A 1 (end) ext 1893—z
Third M ext 1896 red 105 (V 83, p 402,1348) Ce.z
Missouri Pac consol mtge gold
——-zc*
Equip notes series 2 due $147,000 s-a red par__Ce_x
Equip notes series 3 gold $14,000 s-a
100
Payable
MAN May l 1918
MAN Nov 1 1961
F A A 20 Indefinite
6
100
1904
Dividends are
5g
5 g
Merc Trust Co, St L. Mo
Nov 1913 coup not paid
Int defaulted 1917
MAN Nov 1 1944
250 Ac
1911
1915
323
Where Interest and
Places
Nov 1913 coup not
paid
do
do
MAN June 11925
Interest In default
82,839,500
100 a71.800.100
-
6,793
6,793
6,793
6,793
285
1868
1871
1872
1873
1876
1880
1911
1914
1898
1886
13
755
100
84
Un.x
Central Br Un Pac 1st M g
1917
1917
1917
1917
500
8cc a24,238,000
500 Ac
500 Ac
1,000
I,000
II,000
1,000
1,000
1,000
M. K. A Oklahoma lsf M. 5s.—John W. Platten, Chairman; U. S. Mtge.
V. 102,
Y., depositary.
p.
800, 1346; V. 103. p, 60, 1687;
V. 104, p. 1702.
Boonvule Bridge
Emerson
N. Y.
W.
lsf M. 4s.—Chairman, Robert Struthers Jr.; Sec.,
Judd, 5 Nassau St.
Depositary, Metropolitan Trust Co..
V. 102, p. 1625.
V. 103,
Majority deposited.
p.
320.
Dallas A Waco Ry.
lsf M. 5s.—Theodore H. Banks. Chairman; Martin
Watts. Sec'y, 115 B'way, N. Y.
V. 104, p. 559; V. 105, p. 1898.
8.
M. K. A T. Ry. of Texas lsf
M. 5% Bonds.—Chairman, Jules S. Bache;
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. lsf M. 5s.—P. N. B. Close, Chairman; Perry B.
Bogus, 16 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) 1st Lien Coll. Trust
Jan. 1 1925Chairman, Robert M. Lansing; Sec., John R. Gray,
5s, due
both of
Depositary Nat. City Bank of Chicago.
Chicago.
W. Ry. First A Ref. M. 5s.—EHsha Walker, Chair¬
G. N. Lindsay, Sec., 25 Broad St., N. Y.
Depositary, U. S. Mtge.
Y.
V. 104, p. 73, 2453; V. 105, p. 73.
Issued to Dec. 31
1917, $3,601,000. of which $519,000 Is owned by M. K. A T. Ry. and $82,000 is pledged for loan.
Wichita Falls A N.
man;
A Trust Co., N.
Wichita Falls A Southern Ry. lsf M. 5s.—(o) Robert Elliott, Milwaukee;
M. Buchanan, Benj. F. Taylor (Sec.).
Depositary, First Trust A
A Feb
A
A Jan
5g
A
A
do
do
Aug 1 1926
do
do
M
A
S Mar 1 1975
do
do
F
A
do
do
J
A
A Aug 11938
J July 1 1938
do
do
5 g
M
A
N May 1 1938
O Oct
11938
do
do
do
do
do
4H g A
M
A
N July 1 1938
N Nov 1 1920
M
Sg
A
A
N
J
A
D
J
A
D
M
A
A
A
4 g
J
A
i8
Sg
M
A
A
A
J
A
Is
5 g
5g
58
S
do
Go's office,120 Bway.NY
Nov '20-Nov '21 Central Union Trusw, NY
June'20-Dec '24 Girard Trust Co, Phlla
120 Broadway, N Y
June 1 1948
Go's office,120 Bway.NY
Marl 1926
o Apr
do
11931
J July
do
do
11929
do
Co office, 120 B'way.NY
N May 11933
O Oct
1 1923
do
do
St Louis Union Tr Co
J July 1 1939
5
5
M
A
M
A
To June 1922
Townsend, Wheien, Phila
N Nov '20-Nov '21 Central Union Trust, NY
S Sept'20-Sept '23 Phlla Trust Co
5
J
A
D June'20-Dec '24 Girard Trust Co,
Q—M
95. P
Phlla
1747.
Corporate income account for 191$:
Federal compensation accrued,
use of property of S. A. B. A T.
Ry., $105,000; other income, $320,888; gross income, $7,082,095; deduc¬
tions, $1,789,853; interest charges $6,750,033; net loss, $1,457,793.
Pres. A Receiver, C. E. Schafr, St. Louis; Sec., J. W. Reid, Parsons,
Kan.; Treas., F. Johnson, St. Louis.
DIRECTORS.—C. E. Spooner, W. W. Brown, Parsons, Kan.; Geo. W;
Simmons, Edw. A. Faust and Charles E. Schaff, St. Louis; Frank Trumbull
(Chairman), Harry S. Black, Stuyvesant Fish, Walter S. Crandell, A. J.
Miller, James Speyer, S. E. Kilner, Alvin W. Krech, F. H. Davis, E. R.
Tinker, Jr., N. Y.; Edward S. Rea, Coffeyville, Kan.
Office, 61 Broad¬
way, N. Y.—(V. 110, p. 759, 970, 1415, 1849, 2076, 2193.)
★ MISSOURI & NORTH ARKANSAS
RR.—Joplln.Mo., to Helena, Ark
365.24 miles, of which Neosho, Mo., to Joplln, 19 miles, and Sellgman, Mo.
to Wayne, 9 miles, are trackage. V. 86. p. 168; V. 82 n. 569,1269: V.83,p.39).
Federal
Compensation.—-$175,000 yearly during Federal control.
sole receiver.
V. 110, p. 1290.
Chas. A. Phelan of St. Louis is now
In April 1915 $2,500,000 6 % 3-year
Hen on ths property were authorized, of
receiver's cerfcfs, secured by a first
which $2,062,750 were sold to retire
1 and for lmpts.,Ac.V.100.p.2010
Entire itock and bond* are
the outstanding $1,472,000 certfs. due May
Stock
authorized, $25,000 per mile.
$6,000,000 5-year 5% gold notes of the Allegheny
V. 85, p. 99.
In Feb. 1917 suit was brought to fore¬
V. 104, jp. 664.
Outstanding Feb. 1918, $8,340,000
stocks and bonds.
Car trusts outstanding Dec. 31 1917, $13,294.
pledged to
eecure
improvement Co.
close of the notes.
each of
Jan. 1 -Dec. 31—
1920.
1919.
1919.
1918.
$470,388
$363,268
$1,587,826 $1,404,131
def.58,734 def.183,153 def.511,733
def.16,645
——Jan. 1 -Mar. 31
EARNINGS.—
Bank, Chicago.
V. 102, p. 977.
(&) Truman H. Newberry,
Detroit, Chairman; James R. Coulter, Sec., 804 Union Trust Bldg., Detroit;
Net
EARNINGS.—
Years ending—
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.
A
M
4
Gross
depositary, Security Trust Co., Detroit.
Go's office,120 Bway.NY
$6*656,207; additional compensation for
Wm.
Savings
1 1965
1 1923
4 g
5 g
6,996,000
2,573,000
800,000
237,500
3,828,000
5,817,000
441,000
140,000
1,628,000
806,000
Verdigris Val Indep & W 1st M g guar
z
(2) Former St. Louis Iron Mt. A So., Ac.—
1,000 43,090,000
1,498 *81-'87
Gen Cons & L'd Gr't Mtge ($45,000,000) g Ba-zc*
1899
611
1,000 30.551,000
Unifying 8c Refund M gold $40,000,000-Mp_xc*&r
772 1903
1.000Ac 34.548,000
River A Gulf Divs 1st M $50,000,000 g.Ba.xc*Ar#
44 1903
880,000
1,000
Pine Bluff A West IstM assumed red 10 years 105xxx
57 1899
1,000
1,140,000
Little Rock & Hot Sp W 1st M g. assumed—SStxxx
1913
1,000
90,000
Iron Mt car trusts ser V, due $45,000 yrly
xxx
1911
435,000
1,000
do
Ser 2 due $145,000 s-a red par—Ce.x
1914
175,000
1,000
do
Ser 3 due $25,000 semi-ann
zz
1914
1,000
200,000
do
Ser 4 $20,000 due semi-annually
zz
Cos" and V 92, p 883;
Am Refrig Transit equip notes gold not guar—See "Indu strlal
See text.
a Includes amount reserved under plan to retire cer tain of the old bonds
A Trust Co., N.
A
F
F
4 g
13.641,000
9,044,000
500 Ac a51,350,000
Ac
1,000
1,000
F
5 g
5 g
500 8cc
500
1917
1916
Gross
Earnings.
-TT.$1.417,969
1,310,935
Net after
Other
Taxes.
Income.
$227,895 $150,824
217,420
96,404
Interest,
Rents, Ac.
$290,715
262,696
Balance,
Surplus.
$88,004
51.128
Chairman, D. R. Francis; Pres., John Sculling.—(V. 108, p.
378, 480;
V. 110, p. 1290.)
DIVIDENDS.—On pref., 1906 to Nov. 1913, 4%
yrly.; none sincef
★ MISSOURI
BONDS.—M.
K.
1st and 2d mtges. of
A T.
1890 (abstracts in V
51,
&,annibal, Mo., to Boggy Tankland grant, miles trackage), sundry branches,
495) cover, besides right to (except 71 1,599 miles of road, including line
and Sherman Shreveport
Mo.
Kan.
A Southern, but see below.
A Eastern bonds
(assumed).
V. 63,
p.
30; V. 72, p. 1034;
V. 75, p. 608.
Sherman
Shreveport A Southern mtge., limited to $3,689,000, all Issued, of
which $2,000,000 pledged under M. K.T. A
mortgages.
Bonds were as¬
sumed on consolidation in 1901.
V. 72. p. 1034,1115.
The Missouri Kansas A Oklahoma and Texas A Oklahoma bonds. Issued
at $20,000 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 lien on 507 miles of
road and on the first mtge. bonds of Denison A Washita Valley Ry., 4.7
miles, and a first lien on terminals and equipment of estimated value of
$24,380,000.
V. 79.jp. 968, 1281, 1332; V. 80, p. 222, 712; V. 81. p..613;
V. 82, p. 987, 1497; V. 86, p. 1101; V. 88, p. 158, 295.
Gen. M. 4Hs. V. 82. p. 692; V. 84, p. 1551; V. 85, p. 346, 654; V. 88,
p. 101, 158.
Consolidated mortgage of 1910 Is limited to $125,000,000; $66,000,000 re¬
served primarily for refunding and the remainder are Issuable only under
restrictions.
The bonds were on Dec. 31 1918 secured by the pledge of
$13,073,000 bonds and $6,524,600 stocks. Including $4,776,000 M. K. AT.
Term. Co. of St. Louis 1st 5s, $6,830,000 M. K. A T. gen. 4Xb. $1,310,000
Texas Central pref. and $2,672,300 common stock, and by a lien on the
property of the M. K. A T. subject to existing liens.
On Dec. 31 1918
$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, p. 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. 96, p. 1229;
V. 100. p.
1349, 1150; V. 101, p. 846; V. 104, p. 1045
M. K. A T. of Tex. mtge, $10,000,000. V. 56, p. 604; V.102, p.1080,1626.
The Southwestern Coal A
Improvement Co.'s bonds are guaranteed.
Mort¬
gage ($1,000,000) covers coal lands in Indian Territory; the company also
owns 2,350 acres additional. Den. A Wash. Ry., 4.7 miles, mines, Ac.
In May 1913 sold $1,900,000 5% equip, notes.
V. 96, P. 1489. In Aug.
1915 purchased rolling stock for $895,475, of which $50,000 paid In cash and
remainder due In yearly rental payments.
V. 101, p. 694.
Guaranty San Antonio Belt A Terminal Ry., see that company below
and V. 108. p. 1061.
Equipment trusts Issued to Director-General for rolling stock
to this company.
See article on page 3.
EARNINGS.—
$9,156,867
1,517,484
p. 759.
^
Years ending Dec. 31
1918.
Average miles
Gross earnings
Operating
exp.
1916.
'
1915.
$5,747,322
$6,143,711
$6,577,652
$7,692,277
$7,921,966
$6,558,058
700,693
849,026
def.df.$2,707,424sr.$l,379,573df.$1134,634
sr.$514,881
income
Interest on bonds, Ac.._
Rentals, Ac
Balance,
1917.
3,866
3,865
3,865
$54,138,799 $43,344,150 $36,733,682 $32,453,462
A taxes— 49,100,565
35,129,225
30.986,360
24,761,185
Operating income
Net
Jan. 1 -Dec. 31
$7,537,658 $34,272,091 $33,230,334
425,153
5,081,929
6,083,993
REPORT.—Report for 1918 in V. 110,
sur. or
$5,038,234
$4,953,858
$6,761,282
$8,214,925
$8,035,085
$6,655,512
&
GULF RY.—Owned and operated 203.31
sidings, extending from Wagoner to
end of track, 9 m.;
RR. (V. 96, p. 1022),
Wagoner, Okla., to Baxter, Kan., 98.2 miles. Mo. Ok. A Gulf Ry. of Texas
owns and operates 9.1 miles Red River to Denison.
Bid in at receiver's
sale July 8 for $650,000 and in Sept. 1919 reorganization was proposed
as
Kansas Oklahoma A Gulf Ry. per plan in V. 108, p. 1721, 1936; V,
109, p. 776.
Holders of $12,241,000 1st M. (RR. A Ry.) to receive 50%
of principal in Series O Mtge. income and pref. stock for remainder of
principal In case plan goes through.
Alexander New of Kansas City and
Henry O. Ferris of Muskogee, Okla., are now receivers.
V. 100, p. 1257.
On Nov. 13 coupons were defaulted, also the principal and interest on
$743,000 equipment trusts and interest on $1,720,000 receivers' certificates.
In 1918 road was not meeting expenses.
The bonds as shown above exclude amounts held byjthe receivers or
V. 108. p. 1937.
return, Ac., see p. 5,
April 1920 the Fidelity Nat. Bank A Trust Co. of Kansas City brought
suit to have cortain officials removed.
The banking institution, under the
as part security for the outstanding issues.
In Jan. 1919 placed under Federal control.
Standard
pledged
In
original receivership, purchased $1,720,000 receiver's certificates; andjclaims
that it was promised representation on the board.
When the board was
organized, the bank alleges, neither it nor its clients were notified or
represented.
1
Jan. 1 -Mar. 31
Jan. 1—Dec. 31
EARNINGS.—
1920.
1919.
1919.
1918.
Gross...
$570,786
$297,544
$1,517,855
$1,783,303
Net
def.126,375 def.189,666 def.878,436 def.326,908
_
_
_
^
REPORT.—For cal. year 1919, gross, $1,517,856; net. $938,591; fixed
charges, $619,991; bal., def., $1,347,102.—(V. 109, p. 776.)
★ MISSOURI PACIFIC RR.—{See Map.)—rOperates an Important sys¬
extending from St. Louis, Mo., to Omana, Neb., and Pueblo, Colo.,
tem
via Kansas City, Mo.,
and Johnston City; III.
and also to Texarkana, Ark., Lake Charles, La.,
Owns about 6,786 miles of first main track, vis.;
1,448 m. I Colorado
152 m. ILouisiana---—559 m.
Kansas
2,212 m. Illinois
194 m. Oklahoma
162 m.
Nebraska
348 m. | Arkansas
1,714 m. 1
Also has leased lines and trackage rights aggregating 323 miles, making
the total miles of main track Dec. 31 1918, 7,108.
The trackage Includes
193 miles of Tex. Pac. Ry. In Louisiana affording entrance to New Orleans.
Missouri
_
ORGANIZATION.—Incorp. In Missouri March 5 1917 and about June 1
properties of Mo. Pac. Ry. and Its subsidiary,d<he St.Louis
succeeded to the
Iron Mt., foreclosed per plan In V. 101 .p. 130;
V. 104, p. 863.1899.
(Asto K. O. A N.
RR.,
W.
V. 103, p. 406, 493, 579;
see V. 104. p.1591,2010.)
which in Jane 1917t owned about 30% of
the stock of the Denver A Rio Grande RR.. arranged in Oct. 1917 for closer
relations with that company.
As to receivership in 1918. see that company,
V. 105, p. 1420. 1618.
Also owned Dec. 31 1917 $11,555,000 stock, $23,703 000 2d Mtge. bonds and $2,979,420 overdue notes of the Texas Ac
Pacific Ry.
The 2nd Mtge. bonds are pledged as part security for the
Unifying® Ref. Mtge. 4s or the former St. L. Iron Mtn. A South. Ry. Go.
In May 1919 was unofficially reported to have increased its holdings la
Texas A Pacific stock.
Y. 108, p. 1937.
Official statement as to properties, securities, Ac.
V. 105, p. 498, 1802.
The Missouri Pacific RR. Co..
Jan. 1 -Mar. 31
Gross
Net
ANNUAL
allocated
OKLAHOMA
miles of main track and 41.3 miles of
Red River, via Muskogee and Henryetta; Dewar to
Junction to Bromide, 4 m.; Missouri Oklahoma A Gulf
^
„
"STANDARD RETURN," Ac.—See page 5.
Federal
Compensation, $14,312,343 (contract signed.)
ALL ISSUES.—See issue of June 26 1915.
Remnants
of reorganization are still being ex¬
changed under terms of plan, viz., Consol. 1st 6s and Lexington DIv. 5s
of 1880.
Cent. Branch, the two
Issues last named being In default.
V. 105, p. 498.
OLD BONDS,
of three old bond Issues Included in plan
Miles
first page]
Date
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
and Maturity
1895
$100
200,1000
200,1000
Mablle & Birmingham RR—Pref stock ($900,000)---Prior
lien
gold $600,000
Ce.o
First
mortgage
$1,200,000
Ba.o
Mobile St Ohio—Stook
_
First M Mobile to Columbus (principal gold)—F.zo*
First M exten Columbus to Cairo A branoh g—F.zo
General mtge for $10,500,000 (now gold) s r_F.zo*
Montrom Div 1st M $4,000,000 g(V66,p 1045)Ce.zo*
Mobile A B Sh 1st M $200,000 assumed gold-F.xo*
1st Term A Coll Tr M S1.200,000 g due $60,000 s-a.x
M A O St Louis DIvM $3,000,000gred 10244 Cexo*
St Louis A Cairo 1st M gold assumed
zo
150
150
1895
100
1879
1883
18 88
1897
1899
472
625
625
189
46
Maiono—See Now York
500
Ac
1,000
500
-
Ac
1,000
500 Ac
1911
1,000
500 Ac
1,000
1913
159
159
1886
1912
Equip tr Ser "F" $22,000 and $23,000 s-a
Ba.x
do
Ser "G" $32,000 ■ .-a.—last 3, $31.000B*j;
do
Ser "H" $50,000 «-a, last 3 $53.000-Ba.y
do
Ser "J" due s-a $47,000 Dec, $48,000 J'ne Co
Mobllo Terminal & Ry—Seo Ala Tenn A Nor Ry.—
Mdhawk Cc
n
EARNINGS.—
ANNUAL
p.
1920.
REPORT.—For
2428, 2523.
Total oper. revenue
Operating expenses
Taxes, Ac
Operating income
Standard
return
Other income
'Gross Income
Interest
Standard
rents, &c
return,
Bal.,sur. or deficit
a
year
1918.
30
Full voting
including amounts
restrictions,
of the stock¬
1919.
1918.
1919.
1918
extended
1917.
excerpts
in
V.
108,
1915.
1916.
$89,612,397 $78,320,313 $69,972,812 $58,209,306
73,231,738
53.248,038
51,342.397
42,559,670
3,267,634
4,243,312
3,103,762
2,595,996
$13,113,026 $20,828,963 $15,526,653 $13,053,639
$14,206,814
a3,852,989
1,470,914
1,443,872
1,103,174
$31,172,829 $22,299,877 $16,970,525 $14,156,814
bl5,078,031
13,334,774
16,011,517
15,397,361
14,206,814
•
sur$l,887,9848.$8,965,103 sur$959,008 D$l,240,547
b These Indude items pertaining to preceding years, viz., "a" $2,421,-
OFFICERS.—B. F. Bush, President; F. J. Shepard, J. G. Drew, E. J.
White, O. E. Perkins V. Pres.; O. B. Huntsman, V.-Pres., Asst. Sec. &
Asst. Treas.; H. L. Utter, Sec.-Treas.
DIRECTORS (new company).—Nicholas F. Brady, Harry Bronner, Ber¬
J. G. Drew, Alexander J. HemphiU, John H. McClement,
tram Cutler,
Edgar L. Marston. Finley J. Shepard (V.-P.), Cornelius VanderbUt, Albert
H. Wiggin and WUIiam H. Williams, New York; William H. Lee, Matthew
O. Brush, New York; John G. Lonsdale and Edward C. Simmons, St. Louis;
Chas. E. Ingersoll, Phila., and R. Lancaster Williams, Baltimore.
New
York office, 120 Broadway.—(Y. 110, p. 871, 970.)
★ MOBILE Sc. BIRMINGHAM RR.—(See Map Southern Ry.)—Mobile to
Leased to-Southern Ry.
from March 1 1899 for 99 years, the latter agreeing to meet the Interest an
bonds and to guarantee a dividend on the $900,000 pref. stock of 1% for
first year, 2% for second year, 3% for third year and 4% for fourth ytar
and thereafter.
Of the $900,000 oommon stock, $880,400
la owned
by
Southern Ry., and voting power on pref. assigned to Southern Ry. during
lease.
V. 68. p. 429, 1134; V. 69, p. 391; V. 71. p. 1013.—(V. 72. p. 137.)
Marion Junction, Ala., with branohes, 150 miles.
to
.,
.
with
Miss.,
East
Cairo.
branoh to
to
Mont-
2 miles; total owned, 919 miles; Warrior Southern Ry. m.; other branches
fomery, Ala., 181.18 m.; Mobile & Bay Shore branch, 38(all stock and bonds
owned), 14 m.; trackage, 17 mUes; operated under agreement Okolona
to Calhoun City, Miss., 37.82 miles; other, 3.66 miles; total operated.
Doc» 31 1013 001 miles
Federal Contract signed in 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 stook Is exercised by the Gen¬
eral Mortgage bondholders by virtue of deposit of old debentures of 1879.
LATE DIVS.
7 T1-T2. *12-'13. '13-'14. T4-*15. T5-T6. '16-T7.18. '19
June 30 years
\
4
4
4
4
4
444
The
Southern RaUway has acquired
$8,346,000 of the $9,470,000
general 4s and $5,670,200 of the $6,016,800 stock. Issuing, $ for $, its col¬
lateral trust 4% gold bonds In exchange for the M. & O. general 4s, secured
by a pledge of the latter and had also issued stock trust certificates for stock,
dfvidend*belng payable (A. & O.) at 4% In perpetuity.
444
5,000,000
1.197.000
835.000
130,000
444 e J
344 g A
i*
A
A
V. 106, p. 2758.
J Jan. 1 1967
O Got
Treas."
1 1942
Pa
Empire Tr Co. N Y
MAS Sept 1 1939
MAN May 1 1928
F
A
A Feb 1 1963
A Feb 1 1958
Pfttsb,
office,
Goshen, N Y
Union Tr Co, Pittsburgh
Clearfield(Pa) Trust Oo
J July 11920
S P Co, 165 B'way.
N Y
■
t ;
Calendar Years—
618,000
Farmers Loan A Tr. N Y
1 1931
A
J Jan
MAS Sept'20-Mcb '22 Bankers Tr Co, N Y
do
do
MAN Nov 20-Nov '23
do
do
J A J 15 July'20-July '24
J
A
D June'20-June'26 Central Un T Co, N Y
D Dec
J
A
$27,947,009 $20,602,727 $93,577,081 $89,612,397
4,591,762
620,965
10,219,457
16,380,659
Gross
5 g
5 g
A
holders) to $450,000,000 and further limited so that tne total at any time,
including amounts reserved for refunding bonds and equipment trusts
(together aggregating $135,945,500 in June 1917, exclusive of the equipment
trust maturing prior to July 1 1918, which were provided for under plan);
shall 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¬
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 $6,398,709
Series A (110%) reserved In June 1918 to retire $5,817,000 old Consol. 1st
6s due Nov. 1 1920 still unexchanged.
V. 105. p. 389.
First main track upon which First A Ref. M. Is a first Hen, 3,454 miles;
2d lien, 1,614 miles; 3d lien, 1,440 miles; 4th Hen, 285 miles; a first Hen
through deposit of stock, 3 miles; total, 5,793 miles; and all mileage here¬
after ouUt or purchased with these bonds.
(2) General Mortaaae Bonds—Total authorized, $53,000,000. to bear 4%
nt. and mature 1975, but redeemable as a whole (but not in part) at par
and int. on and after March 1 1921.
A junior lien upon all property at any
time subject to the new First and Refunding Mtge.
Now issuable, $51,350,000, less $1,704,000 reserved in Oct. 1919 to retire. $ for $, $1,628,000
Cent. Branch U. P. Ry. 1st Mtge. 4s, due June 1 1948. and $76,000 Cent.
Branoh Ry. 1st Mtge. 4s. due Feb. 11919. still unexchanged.
V. 105.p.389.
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
Net
4 g
221,000
459,000
F
$203,000 Lexington Div. 5s, etc.
(2) New Common Stock, auth., $200,000,000; presently iss., $82,839,600.
All the common and pref. stocks issued are in a voting trust expiring
April 1923 or earlier, at option of trustees.
The voting trustees are Otte
II. Kahn, James N. Wallace and Robert Winsor.
Y. 104, p. 2343.
Issue,
First Nat Bk, Mobile, Ala
Aug '20-Feb '21 Guaranty Trust Co, N Y
Hanover Nat Bk, N Y
1 1927
4,000.000
90,000
A
J
E>wer. Authorized, reserved in Sept. 1919 to retire $ for $over $71,800,100.
eluding $203,000 $100,000,000. Presently issuable not when presented.
reserved for refunding, improvements, extensions, Ac., under
is limited (except with further consent of a majority in amount
1 1947
MAN May 1 1949
6 g
'
Hanover Nat Bank, N Y
do
do
Sept 1 1938
F A A 15
1 494,000
9
do
do
July 1 1927
A Feb
J
1.000
1917
2% JPMorgan ACo.N Y, ALon
J P Morgan A Co, N Y
July 1 1945
do
do
July 1 1945
June 27 '19, 4% Washington, D C
Farmers L A Tr Co, N Y
Deo 1 1927
fig
fig
Dec. 3 1
Payable
f*
1880
127
are
5 g
120,000
n2 500,000
5g
10744% and div., subject to conversion privilege.
Mtge. Bonds—Total
1
A
373,000
(1) New Convertible 5% Pref. Stock (p. A d.)—Cumulative from June
Ref,
200,000
F
Where Interest and
Dividends
J Julyl 1920
MAS
2.475.000
STOCK.—The new stock issues (compare V. 101, p. 131) embrace:
A
4.000.000
?*
i e
5 g
1.000
1018.
Convertible at holders' option at par into common stock at par,
subject to adjustment of dividends.
Callable by company as an entire
BONDS—First
A
1908
Fx
gold—
Excluding $500,000 held for account of company
Issue at
9.470.000
1
Clearf Tr Co.x
Morgan's La & Texas—
First mortgage Alexandria Extension
J
4
J
A
J
5 g
600,000
J
A
J
4
1,200,000
6,016.800 4 in 1918 Yearly
J
A
D
6
7,000.000
Q—Jan
1,000,000
1,000
1,000
1917
1.000
Monongahela Ry—1st A Ref. M. $15,000,000 gUPl
1.000
"37 1902
Monongahela RR 1st M $1,500,000 joint guar
k
der In dustria Is below.
Monongahela Southern RR—See U S Steel Corp un
Monongahela River RR—Bonds—See B A O RR
1909
1.000
33
Montana Wyom & Sou—1st Mgred llOtext—Emxc*
1,000
1866
Montgomery & Erie Ry—1st M (old 7s extended in'86)
"67 1913
1.000
Montour RR—l«tMg$2,750,O00redl05sftextUP.xc*
Equipment bonds, see text.
$900,000
1.000
1913
1914
1910
Cent A H R RR.
Morohead & Nor Fork—1st M g trust
Places
Last Dividend
Road
RAILROAD COMPANIES
IFor abbreviations, &c., see notes on
[VOL. 110.
^ControL.
RAILWAY STOCKS AND BONDS
Contract?
86
BONDS.—General mortgage of 1888 abstract, V. 47 ,D. 83.
The St. Louis Div. 5% gold bonds (limited to $3,000,000),
1913,
are
secured by a mortgage on the former St.
V. 60, p. 967.
dated Aug. I
Louis A Cairo RR., sub¬
ject to St. Louis & 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.
Stockholders in Feb. 1918 authorized the creation of a mortgage to secure
not exceeding $50,000,000 bonds, whenever the board of directors may deem
it advisable.
V. 106, p. 929: V. 104, p. 452; V. 102, p. 251; V. 100, P-253.
First Terminal M. and Col. Tr. 5s of 1911, V. 92, p. 119; V. 105, p. 1797.
Equipment bonds series "J," V. 102, p. 1718.
There is no series I.
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 aUocated
See article on page 3.
Jan. 1 -Mar. 31
Jan. 1-Dec. 31
EARNINGS.—
1920.
1919.
1919.
1918.
Gross
$4,646,048
$3,621,424 $15,636,714 $14,840,901
Net
188,097 def.276,931 def.406,330
709,729
REPORT.—For calendar year 1918 in V. 109, p. 1983.
Calendar Years
June 30 Yr.
1918.
1917.
1916.
Total oper. revenue
$14,840,901113,604,506 $12,229,643 $12,859,866
Federal compensation..
$2,603,526
Net over taxes
182,246 $2,562,513
$2,813,273
$2,754,957
$2,660,674 $3,646,278
$3,421,075
$3,812,009
Net, incl. other income.
Interest, rentals, Ac
$1,672,216
2,252,587
2,305,540
2,329.605
Dividends paid (4 %)
240,672
240,672
240,672
240,672
700
Additions A betterments
12,957
5,766
10,829
to this company.
_
,
Balance, surplus
$747,086 $1,140,062
$869,097
Pres., Fairfax Harrison;. —(V. 110, p. 658, 970.)
"MONON."—See Chicago Indianapolis & LouisvUle Ry.
$1,230,903
★ MONONOAHELA RAILWAY—Brownsville Junct., Pa. (connection
with Penn. RR. and Pitts. & Lake Erie RR.) to Fairmont, W. Va., 69 miles,
with branches aggregating 39 miles.
In Nov. 1915 operations extended
from Penn.-W. Va. State line to Fairmont. W. Va., 33 m,
A consolidation
July 1 1915.
See Pitts. & L. E. report, V. 102, p. 1535; V. 106, p. 2003.
Stock auth.. $10,000,000; par, $50.
Outstanding Dec. 31 1918, $5,-
000,000, of which Pitts. & L. E. (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 1918.
First & 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 344s.
LATEST
Jan. 1 -Mar. 31
Jan. 1 -Dec. 31
EARNINGS.—
1920.
1919.
1919.
1918.
Gross
$836,189
$804,477
$3,652,666
$3,211,550
217,207
1,259,397
937,694
1917, gross earnings on 108 miles of road,
$2,152,836; net, after taxes, $755,920; other income, $8,609; int. on bonds,
rentals, Ac., $761,737; bal., sur., $2,792.—(V. 105, p. 181.)
OFFICERS.—J. M. Schoonmaker, Pres.; J. J. Turner. V.-Pres.; T. H. B.
McKnight, Treas.; Lewis NeHson, Sec., Pittsburgh.—(V. 106/ p. 2611;
V. 107, p. 82.)
79.589
Net
RESULTS.—For cal.
year
A MONONOAHELA SOUTHERN RR.—Line extends from
Monongahela
Pa., and from Clairton Jet. to Wilson, Pa., 11.57 miles
(leased to Union R.R. of Pennsylvania).
STOCK.—Auth. and outstanding, $1,500,000; par, $50, all owned by
Union RR. of Pennsylvania.
BONDS.—Auth., $3,000,000;outstanding, $3,000,000.
Dated Oct. 2
1905, due Oct. 2 1955.
Jet. to Mifflin Jet.,
A MONTANA WYOMINO & SOUTHERN RR.—Owns from Brldger, 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
$25,000 per mile.
V. 89, p. 470.
In Mar. 1919 entered Into co-operative
agreement with U. S. RR. Admin, (no compensation).
V. 108, p. 973.
Year 1918, gross, $344,858; net, $135,535; int., taxes, Ac., $65,025; bal¬
ance, sur., $70,510.
In 1917, gross, $306,099; bal., sur., $52,249.
Pres.,
Frank S. Gannon.—(V. 103, p. 1210; V. 105, p. 1309; V. 108. p. 973.)
& E. RY.—(See Map Erie RR.)—Owns Montgomery
to Goshen, N. Y.,
10 miles.
Leased In 1872 to Erie RR.
Rental now
$10,000 per an. Stock, $150,000. Diva. (444% per an.) paid May 10 and
Nov. 10. S. fd., $6,500 per an. There are $40,500 2d M. 5s due Oct. 1 1927
★ MONTGOMERY
A MONTOUR RR.—Owas Montour Jet. to the Mifflin Yards of Bessemer
A Lake Erie RR. and branches, 61 miles.
In Oct. 1916 the Northern Mon¬
tour
RR. Co., with $350,000 of auth.
capital stock, was incorporated.
Coal Co.
V. 96, p. 286, 861.
Stock $1,500,000, owned by Pittsburgh
Boad not taken over by Director-General.
Bonds, originally $2,750,000
V. 106. n. 2011.
1st 50-yr. 5s; retired by sinking
Dec. 31 1918. $275,000; redeem, at 105 as a whole on and
fund to
after Feb. 1 1924,
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 1920 to 1926, $220,000.
For year ended June 30 1916, gross earn¬
ings were $660,077; def., after oper. exp., $51,345; other income, $359,541;
$135,240.
Cal. year 1917, gross, $824,095; net def., after taxes
•rat
10244 for
a
Jan. 1-Mar. 31
EARNINGS.—
Gross
Net
1920.
$202,432
def.95,148
1919.
$210,285
def.92,246
Jan. 1-Dec. 31
1919.
1918.
$1,199,498
$1,307,414
def.240,319
def.6,503
MOREHEAD & NORTH FORK RR.—See page 139.
★ MORGAN S LOUISIANA & TEXAS RR. & STEAMSHIP CO.—See Map
91 Southern Pacific.)—ROAD.—Owns Algiers to Cheneyvllle, 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 \ermilHon RR., 21 miles.
APrivate
RAILWAY STOCKS AND BONDS
MAT, 1920.] *%i—
first page]
Dale
Bonds
Value
„
When
%
Payable
25,305,500
—
mm
J
A
J Jan
1 1922
5
J
A
J Jan
1 1935
J
A
J Jan 2
7
J
A
3HH
D Matured
2000
J
A
D
Deo
221.000
4
M
A
N
May 1 '20,
243.000
282,350
5 g
5
M
A
S
J
A
J
mmm
500,000
0
J
A
J
t2,238,667
5
A
mmm
—
mmm
•»
-r
•—
m
U S gold redeem par (text) guar—N.xo*
Nat RR of Mex Prior Lien mtgegcall 105_.Un.xo*
First Cons M $60,000,000 gold (see text)..Ce.xo*
Mexican Central—Priority bonds gold red 110 —s
First Oons lno A scrip n-cum ($9,600 p m)g ABjto*
2d co na lno($6,400 p m)red 50% to July '29 AB.zo*
Car and locomotive rental notes
x
Gen mtge
46
1888
1909
6
6
J
A
J
J
A
4 g
J
A
M
A
F
A
J
A
J
A
J Jan
A
A
O Apr
7A
J
A
5 g
J
A
5 K
M
A
1 1933
1 1925
1 1924
J
1907
$, £. Ac
1907
1,284
1,534
3,457
3,407
1,000,000
1.000,000
74,803,466
28,831,000
120,434.491
84,804.115
50,748,575
23,000,000
24,740,000
1,374,000
170.600
21,000
1,000
1,000
$, £ Ac
$500 Ao
1902
mmmm
1902
1902
1889
1889
1889
500
Ao
1,000
1,000
1.000
Brooklyn Trust Co, N Y
ReadlngTermlnal, Phils
Ogdcn (Utah) Sav Bank
i
O Oct
Oit Sav & Tr Oo, Oleva
do
do
Oh
Oo, Davenport,la
Cont & O Tr & S Bk.
Ger Tr
U S Mtg A Tr Co, N Y
J July 1 1924
Go's office
N May 1 '20,4A% Check from
2 1920 3 A New York and Nashville
A Feb
do
do
J Jan
1 1923
do
do
1 1923
do
do
1 1928
3M% Louisville, Ky
J July1920
J
July 1 1932
1 1949
See Text
N May
Feb 10 '13. 2%
J
City of Mexloo, Lond, Ice
Office, 25 Broad St. N Y
July 1 1957
11977
See text
See text
J
A
A
A
O Oct
4A g
4 g
J
A
J Oot
A
A
O Oct
5 g
J
A
4H e
4 g
V
See text
11939
See text
Jan
101939
None
Jan
July 10
-»
11926
11951
101939
Apr
11917
11919
J July
m
See text
jjald
662,450
mmmm
160,000
1,000
1,000
1897
1899
300,000
5 g
6 g
A
A
o
A
A
o Oot
See text
$9,191,367 pledged for loans (notes, Ac.)
"STANDARD
RETURN," &c.—See page 5.
the $15,000,000 stock.
Divs. 1906-07,10%;
Sou. Pac. Co. owns
NARRAGANSETT PIER RR.—This road was formerly
1907-08,
25%; 1908-09, 4%; 1909-10, 5%; 1910-11, 6%; 1911-12, 4%; 1915-16, 2%;
1917 and 1918, none.
The $4,935,000 1st 7s were retired at maturity April 1 1918 and except
$25,000 are held by Southern Pacific Co.
V. 106, p. 1461.
Jan. 1 -Feb. 29
Jan. 1 -Dec. 31
1920.
1919.
Gross
$1,654,189
$1,227,325
Net
607,200
163,356
In 1918 "standard return," $1,188,526; "other
EARNINGS.—
1919.
1918.
$8,351,731
$8,065,807
1,707,746
2,773,003
Income," $105,060; int.
&c., $547,898; expenses prior to Jan. 1 1918 (net), $119,536;
surplus, $626,152.—(V. 106, p. 1461.
★ MORGANTOWN A K1NGWOOD RR—Owns Morgantown to
Rock Forve to Richard, 0.77 m,; total
Jet., W. Va., 47.94 miles;
M.&K.
48.71 m
Incorp. Jan. 14 1899 in W. Va.
The road was sold early in 1920 to the
Baltimore & Ohio RR.
V. 110, p. 970.
Stock auth., $2,000,000; par, $100.
Bonds, see table above.
Equipment trusts Issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Federal compensation fixed at $51,362.
V. 109, p. 1891. For year
ending Dec. 31 1917, gross, $416,608; net, $34,419; deductions, $64,988;
def., $30,569.
Pres., David Elkins, Morgantown, W. Va.; Sec., Richard
Elkins, N. Y.
Office, Morgantown, W. Va.—(V. 110, p. 765. 970.)
★ MORRIS A ESSEX
RR.—(See
Mav of Dela. Lackawanna A
Western)
N. J.t with important tarmlnal facilities on N, Y
N. J.t 85 miles; Branch. Denvllls to Hoboken, N. J.
34 miles; leases, 38 miles; total oper., 157 miles.
Leased Dec. 10 1868 In perpetuity to Del. Lack. & West., which guaran¬
teed 7% per ann. on stock and, contingently, 1% extra.
In May 1917.
following some litigation, It was agreed that In future the dividends under
the lease should be fixed at 7H %, payable unconditionally, the additional
rental (H%) for year 1916 to be paid on July 1 1917, and for subsequent
years on each succeeding Jan. 1. respectively.
See Y. 104, p. 2118
The $9,191,000 7s due June 1915 were purchased by the D. L. & W.
and held in the D. L. & W. treasury pending delivery to it of 3^s under
the lease.
V. 102, p. 795, 609—(V. 106, p. 601; V. 108, p. 2528.)
—Owns from Hoboken,
Harbor, to Phllllpsburg,
AMORRISTOWN
&
ERIE RR.—Owns Morrlstown, 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, &c.t $39,283;
McEwan, Whippany, N. J.—(V. 96, p.
bal., def., $2,114.
1629.)
Pres.. R. W.
PORT CARBON RR.—Owns Mt. Carbon to Port
track, 13.45 m. Leased to Phila. A Reading
1910 at 5% on stock, taxes, Ac. (V. 89, p. 42.)
★ MOUNT CARBON A
Carbon, Pa., 2.60 m.; total
999 years from Mar.
Dee. Ore., 16.4 miles. Stock.
Year 1916, gross, $82,064; net,
def., $33,477. Pres., W. H.
Rolapp, Ogden, Utah.
TUNNEL A TERMINAL CO.—A constituent com-
AMOUNT HOOD RR.—Hood River to
$250.000;par, $100.
Bonds, see table.
$22,582; Int., taxes. Ac., $56,059; bal.,
Focles, Dee, Ore.; Sec. A Treas., H. H.
MOUNT ROYAL
Sany 21 the Canadian Northern Ry. system, owning tunnel openedMontreal.
»ct. of through Mount Royal affording access to terminals at for traffic
1209.
Cost to April 30 1917, V. 105, p. 1209.
bond Issue was limited (V. 103, p. 1889) to $20,000,000 till
$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 A% beginning In 1920).
Trustee, British
Empire Trust Co., Ltd.
On June 30 1917 $11,430,034 of the bonds had
been "Issued" including $2,238,667 in hands of public and $9,191,367
V. 105, p.
Present
the
pledged, these last embracing £514,000 deposited as collateral for the afore¬
said Can. Nor. Ry. notes.
See V. 105, p. 1304.
In Dec. 1917 made a
mortgage to secure demand loans from Canadian Govt.
V. 105, p. 2366.
By Act of Canadian Parliament in May 1916, rentals paid the company
15 the Canadian Northern Ry., the Canadian Northern Ontario Ry. and
ItfcCanadian Northern Quebec Ry. are Included in their operating expenses
and thus rank ahead of their other fixed charges.
V. 103, p. 1210; V. 102,
a. 1987.
Capital stock, S5.000.000v owned by Can. Nor. Ry.
Sec., R. P.
Ormsby, Toronto.—(V. 104, p. 164, 1801; V. 105, p. 1209.)
★ MUNISING MARQUETTE & SOUTHEASTERN RY.—Owns Munisng to Big Bay, Lawson to Princeton 96.20 miles; branches 36.58 miles,
by Cleveland Cliffs Iron Co.
Stock $1,870,000: par $100.
controlled
For year
Del Lack & West. N Y
do
do
vllle
Equipment 5s $50,000 redeemable yrly at par_.x
($50,000 yrly par( red 102 A beg 'lO.OB.xo*
charges,
balance,
A
3,553,750
25
119
do
t Additional
1,000
1,000
1883
846
A
text
80J.000 See
16,000,000 7 In'19
6 g
371.000
6 g
370,000
5 g
13,608,000
mmmm
g—Ce.zo* Ar
gold._Us.xo*
Nashville A Decatur—Stock guar 7
by I* A N—
Nashville Florence & Sheffield—See Louisville & Nash
Nashville Terminal—First M gold red 105 —Mest.x
First Ref M $8,000,000 auth(V 98. p 1668)call 105.N
National Rys of Mexico—Com stook $75,000,000 U S g
First pref stock $30,000,000 4% n-e (p & d)
2d pref stoek $125,000,000 5% n-e (p A d)
Prior lien MUSgred 105beg'17 (see text) Ce.X0*Ar*
First mortgage on Centreville Branch
Cons mtge ($20,000,000) $20,000 p m
D
J
49,000
mmm
2%
15 1970
o
A
A
5
4 g
550,000
52,100
•
1
1 1927
160.000
1,000,000
—
—
mm
—
and
Dividends are Payable
Bk of Mon Val, Morg.WT
Davis Tr Co, Elklns, WV
20,4X% Del Lack A Western, NI
5
771,000
15,000,000
9,191,000
mmm
Where Interest
Places
and Maturity
7H
$40,500
1902
$500
Morgantown & Kingwood—IstM closed Issue.....
500 Ac
1905
1st mortgage $1,500,000
x
50
Morris & Essex—Stock 7%% guaranteed D L & W__
1,000
1875
IstM 7% cons held by D LAW pending deUrof3Hs
1,000
119 1900
let Ref M g $35,000,000 gu p A1F.xc*Ar
100
2
•»'
Morrie & Essex Extension Co.—Stock guar 4%—1,000
13 1903
Morristown A Erie—First M $300,000 g s f red par..
60
Mt Carbon A Port C RR—Stock (rental guar) text...
•07-'11
Mount Hood RR—1st M $500.000
1914 £100, Ac
Mt Royal Tunnel & Term—let M rent charge
1,000
138 1903
Munising Marquette & Southeastern—1st M g.xx
1.000
38 1900
Munising First Mtg gold
x
100 Ac
1919
Muscatine Burlington A So—1st Mtge S750.000CC
1916
Ten-year Mtge debentures $100,000
A In diana.
aplds
Muskegon Qrand Rapids & Indiana—See Grand R
1904
1.000
Mutual Terminal—1st M gold s f red 102 H--Gx.o*
100
14 H
Nashua A Lowell—Stock 9% rental 99 years B A M.¬
100
Nashville Chatt A St Louis—Stock $16.000.000auth
1,000
23 1883
First mortgage on Jasper Branch
Cez.o*
mm
Rate
Outstanding
Par
Road
Dividend
Last
Amount
Miles
COMPANIES
RAILROAD
IFor abbreviations, Ac., see notes en
8T
Control.
ending Dec. 31 1918, gross, $872,730; net, $245,825; taxes, $45,Ac., $116,254; bal., sur., $84,218.
Gen. Mgr. H. R.
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
and
Stock, $133,800.
First mtge. 5s, $70,000,
Int. F. A A. at Rhode Island Hospital Trust Co., Provi¬
U. S. Railroad Administration.
due Aug. 1 1936;
dence, trustee.
Road extends from
miles.—(V. 110, p. 872, 971, 1089.
Narragansett Pier to Kingston,
8.41
★ NASHUA &LOWELL RR.—Owns double-track road from Lowell, Mass.,
to Nashua, N. H., 14.20 miles. On Oct. 1 1880 leased for 99 years to Boston
A 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 expanses, and In
April 1911 received authority to purchase stock: In Nov. 1906 to 1912 incl.
A % extra was paid from accumulated cash surplus.
Treas., Geo. G. Coit,
6 Beacon St., Boston.—(V. 83, p. 970; V. 85, p. 1005.)
★ NASHVILLE CHATTANOOGA & ST. LOUIS RY—Owns from Chatfranooga, Tenn., to Hickman, Ky., 323 m.; branches to Lebanon, Ac., 533
m.; leases Western A Atlantic. Chattanooga, Tenn., to Atlanta, Ga., 137
m. (V. 104, p. 452; V. 110, p. 78); and Memphis A Paducah Division of the
L. A N., 254 miles.
See V. 71, p. 544, 664, 864.
Total operated Jan. 1
1919, 1,247 miles.
ORGANIZATION.—Amajorlty ($11,484,100) of the stock is owned by
A Nash., of which $8,802,400 pledged under Its mtges.
West.
State of Georgia till Deo. 27 1919 at $420,012 yearly.
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 $00,000
yearly from Dec. 27 1919 will be applied to lmprov'ts.
V. 104, p. 604, 863.
che Lou.
A Atl. is leased from
Memphis Dlv. of the Louisville A Nashv. RR. Co. is
1895; the annual rental is 5% oa the cost
by L. A N. RR. for additions, etc.
Burl. A Qulncy the Paducah A Illinois RR.,
which has built a double track bridge over the Ohio River at Metropolis,
III., and has constructed a line from Metropolis! to Paducah. Ky.. 14 miles,
and will jointly guarantee Its bonds.
See that company and V. 100, p. 1788.
LATE DIVS.—/'07. '08. '09. '10-Tl. '12. T3-*14. *15.'16. '17toFeb'20.
Percent
___t 6 5A
5
6 yrly. 6A 7 yrly.
5 6A 7yrJy(FAA)
Federal Compensation.—$3,182,089 yearly during Federal control.
BUNDS.—(Jonsol. mtge. of 1888 provides that all prior bonds shall be
paid oft at maturity; sufficient of the $20,000 p.m. are reserved for them.
V. 105, p. 607.
V. 101, p. 131, 694, 1405; V. 103, p. 1301. 1593.
In
May 1920 $15,347,000 consols had been issued, but $739,000 were in
treasury, leaving $14,608,000 outstanding.
See "Chronicle" of May 29
1920.
V. 107, p. 699; V. 106, p. 1788.
Jointly, with Lou. A Nash., guarantees $2,601,000 L. A N. Ter. 4a;
with the L. A N., Southern Ry., St. Louis I. M. A So. and St. Louis South¬
western $2,600,000 Memphis Union Station 5s, and with the Chic. Burl. A
Qulncy RR. $5,000,000 Paducah A Illinois RR. 1st M. slaking fund 4Ae.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
_
Jan.l-Mar. 31
Jan. 1-Dec. 31
EARNINGS.—
1920.
1919.
1919.
1918.
Gross
$5,786,994
$4,416,852 $20,044,134 $21,757,402
Net
388,502 def.263,778
1,560,506
4,133,838
REPORT.—For fiscal year ending Dec. 31 1918.
V. 108, p. 2119.
Calendar Years—
xl918.
1917.
1916.
1915.
Gross earnings
$21,757,402 $15,194,755 $13,519,588 $11,539,843
Net after taxes
3,752,570
2,979,697
3,421,661
2,218,929
The Paducah A
leased for 99 years from Dec. 14
of road and 5% on amounts paid
Owns jointly with the Chic.
_
Hire of
565,048
395,602
278,955
$4,183,199
$603,315
$4,382,310
$582,776
$2,762,100
$533,677
740,568
742,599
729,094
1039533
$2,017,403
(5)799,225
Ac
Income taxes (ext.)
Dividends
'
149,206
'(7 %)1.120,000 (7)1.120,000(6M)
Balance, surplus
x
901,021
302,481
$3,337,621
Total income
Interest
Rentals,
264.215
366,557
666,009
Other income, Ac
3,182,089
155,532
^684,228
equipment
compensation.._
Federal
$718,178 $1,719,317
$700,103
comparisons faulty.
II. F. Smith; Treas., J. H. Ambrose;
P. Bruce, Nashville, Tenn.—(V. 116,
Results under Federal control:
Pres., Whitefoord R. Cole; V.-P.,
Sec., T. A. Olarkson; Gen. Mgr., W.
p.
78, 970.)
★ NASHVILLE & DECATUR RR.—(See Map Louisville & Nashville.)—
Nashville, Tenn., to Decatur, Ala., 119 miles.
Re-leased to
Lou. A Nash. In 1900 for 999 years, the rental being 7A% on stock.
The
Lou. A Nash. Deic. 311918 owned $1,758,850 of the stock.—(V. 70, p. 1195.)
Owns from
★ NASHVILLE TERMINAL
CO.—Owns bridge across the
track.
Cumberland
Leased for 99 years to Tenn.
353; int., rentals,
River and 20.17 miles of
Harris.
Cent. RR.
For several years past the 1st M. coupons
Co. of St. Louis after some months delay.
MUSCATINE BURLINGTON A SOUTHERN RR.—Muscatine, Iowa,
to Bmlington. 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
Au*. 1916 of Muscatine North A South Ry.
V. 103, p. 679 V. 99. p. 909,
1749.
Stock, $450,000; par, $i00.
The 1st M. 5s of 1916 $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.
$23,423;
1981.
For cal. year 1917, gross, $151,357; net, after taxes,
int., rents, Ac., $50,169; def., $26,747.
For year 1918, gross, $162,004;
p.
$9,827; Int., rents, Ac., $34,046; def., $24,219.
E. H. Ryan, Davenport, Iowa.—(V. 103, p. 579,939,1981; V. 108, p.
net
after
taxes,
MUTUAL TERMINAL
CO. OF BUFFALO—Owns 5.22 acres
Pres..
2433.)
of land
with 1,486 feet of frontage on the city ship canal, wharves, freight house
and a steel and brick grain elevator, capacity 3,000,000 bushels.
Stock,
$60,000, all owned by the N. Y. O. A H. R. RR., D. L. A
and Erie, which each, under agreement of Jan. 2 1905 aa
W., Lehigh Valley
amended, guaran¬
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.
V.89, p. 779.
Pres., O. 8. Golds borough, 50 Church St., N. Y.; V.-Pres., J. A. Middleton; Treas., F. H. SUvernaU. 143 Liberty St.. N. Y.—(V. 106, p. 1348.)
tee to pay
have been paid at Merch. Tr.
In Oct. 1919 the coupons due
Jan. 11919 had been paid but not those due July 1.
In Feb. 1918 the Tenn.
Central RR. had paid the rent in full to Jan. 1 1918.
Compare Tennessee
Cent. RR. In V. 104, p. 2642, 1900; V. 105, p. 73, 181; V. 105, p. 607.
•
NATIONAL RAILWAYS OF MEXICO.—On June 30 1914 this sys¬
tem, including the
Interoceanic and Mexican Southern Rys. U.047
miles controlled but operated separately!, aggregated 8,027 miles of road
(1,342 miles, 3-ft. gauge).
During the revolution of the succeeding 3 years
some hundreds of miles of track and many bridges, engines, cars, Ac., were
destroyed.
On Dec. 4 1914 the railway, telegraph and telephone lines of
the Republic were seised by the Mexican authorities.
In April 1920 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 Railway, together aggregating
on June 30 1918 6,882 miles of road in
operation and 613 miles of unoperated road, under title of National Railways of Mexico.
The use of
the name "Constitutionalist Railways of Mexico," by which these Govern¬
ment-operated lines were previously designated, was dropped Jan. 1 1919.
2476.
RR., 340^ miles, and Pan American Railway,
1917 segregated to facilitate the operation of the
Mexican Railway, but are now being operated again as part of the system.
V. 108, p. 1816; V. 107, p.
The Vera Cruz A Isthmus
285 miles, were in June
88
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NEW YORK CENTRAL
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90
Contract.
RAILWAYISTOCKS AND BONDS
Par
Amount
Rate
When
Dividend
Places Where Interest and
Date
Value
Outstanding
%
Payable
Maturity
Dividends are Payable
Bonds
and
Road
notes on first page]
Last
Miles
RAILROAD COMPANIES.
IFor abbreviations, Ac., see
National Rys of Mexico (Concluded)—
Mex Int prior lien £1,200.000 red at par.Un.xo* Ar
First oons M $16,000,000 g not guar..Mp.xo*&r
do
g guar stamp sub J to oall at 95 to Mob 1907 Vera Crus A Pacific 1st M g red (text)
xc*
Pan Amer (Mex-Guat) 1st M(text)redl05gu p&lxc*
General mortgage guar prln & int
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 C $813,090 red par
G
615
866
866
263
285
285
Junction—1st M guar $4,000,000-G.zo&r
New Jersey & New York—1st Mtge ext 1910......
New Jersey
......
.....
New London Northern—Stock
First mortgage
Ba.xo*&r*
West River first mortgage guaranteed prln and Int.
New Mexico Ry & Coal—See El Paso & Northeastern
New Orleans ureat Northern—First M g—Col.xo* Ar
New Orleans & North Eastern—Stock $6,000,000
Prior lien mortgage gold
Ce.xo*
Ref & Imp M $16,000,000 g SerA call 107)4 G.xc*Ar»
Equip trusts ($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 $1^,000.000 g gu.G.xo'&r*
a Out of the $7,206,500 Mexican International
Eys. of Mexico of June 22 1908, $4,499,000 income bo
4)4
705.500
a4,206,500
/ 7,000,000
2.003,000
1.484,000
26.730,000
i*
94
20
2.
1914
New
1904
1886
1880
1885
1892
5.62
34
34
34
121
36
196
ads
1905
1,000 Ac
1905
100
1,000
1,000 Ac
1.000
1,000
1.000AO
1885
1917
d$15,7 85,200
ca
By., 162 miles, controlled by stock ownership, was
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.
Vera 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.
of the $230,000,000 auth¬
preferred
and Interest
orized stock, viz.: $10,000,000 first preferred, $30,278,300 second
and $74,778,067 common stock, and guarantees the principal
of the general mtge. bonds.
V. 87, p. 1533.
All Interest and other obligations maturing
Including
Int. were
subsequently,
the principal of notes due June 1 1915 ($27,476,000), Ac., and
defaulted, and the plan to fund the July 1 to Sept. 30 1914 ma¬
Oct. 1 1914 and
operative.
V. 100, p. 2010.
DIV8.—1st pref.. 1908. 1%; 1909. 2%; 1910 to 1912, 4%; 1913, 2%
BONDHOLDERS'
PROTECTIVE
COMMITTEE.—(Representing
both the Prior Lien 4)4s and the 4% bonds of Nat. Rys. and Nat. RR. of
Mexico, and Mex. Int. RR. and the secured notes of Nat. Rys.).
Chairnan Laurence Currle.
Depositary, Glyn, Mills, Ourrie A Co., London.
V. 105. p. 716: V. 106, p. J&6.
BONDS.—The prior lien 4)4% bonds ($225,000,000 auth.) were deBcribed In V. 86, p. 1319, 919, and the guaranteed general mortgage 4%
bond* ($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
Financial Status.—As the decree of seizure of the railway, telegraph and
telephone lines of the Republic, Issued by the Mexican authorities at Vera
Cruz on Dec. 4 1914, is still in effect for all the lines composing the com¬
pany's system in Mexico, the company is without Income from those lines
and continues unable to meet any part of its maturing obligations which to
June 30 1919 aggregated $93,261,782 (U. S. currency).
The total amount actually paid on account of accruing expenses for the
fiscal year 1918-1919 was $198,230 for expenses incurred in the operation of
the offices maintained by the company in the cities of Mexico, New York
and London, and this was provided by the Mexican Govt, as a special matter
The balance sheet of June 30 1919 showed cash in banks and on hand
$605,423 (including $128,007 cash deposits for payment of principal and
interest on bonds, &c.; or as guaranty).
Notes and accounts payable
turities has not been declared
of June 30 1919, $83,349,815.
REPORT.—Report for year ending Juhe 30 1919, V. 110, p. 1409.
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 andjncreasing the total profit and loss deficit to 139,008,478 pesos.
Chairmane^tHMBoard, Rafael NIeto; VIce-Chairman, Mario Mendez;
President,
I
; Sec., Ing. R. D. Carrion, all of City of Mexico:
Asst. Sec. A Asst. Treas.. E. E. Bashford, N. Y. City.
N. Y. office, 25
as
The system
Broad St.—(V. 109, p. 173, 1610; V. 110, p. 1409.)
NATIONAL TRANSCONTINENTAL RY.—See Grand Trunk Pacific.
ANEVADA-CALIFORNIA-OREGON RY.—(3-/t. pauoc.)—In June 1917
the Western
mile
branch
Pacific RR. purchased 63 miles of
line in California, together with
the main line and the 41Nev.,
terminals in Reno,
leaving 171 miles Hackstaff, Cal., to Lake View. Ore.
V. 107. p. 1379.
Of the $2,200,000 gold bonds of 1917, $750,000 were to be used to redeem
a like amount of 5% gold bonds of 1899
(only $3,000 still out Dec. 31,
1918), and $250,000 were issuable on account of additions and improve¬
Sinking fund to purchase bonds (or call at 105 A int.), 1922 to
ments.
Vl64yeari592^ °f
«onds then out. and thereafter. H of 1%.
After 5% on common, both
Diva, on pref., 1906, 3%; 1907, 4%; 1908 to 1910,
$% each; 1911, 3%; Sept. 1912, 2%; on common. 1%, 1909; 1%. 1910,
aeae since
V 102. p. 1540. 1626
REPORT.—For calendar year 1918, compare V. 109, p. 270
Stock, common, $1,450,000; pref., $750,000.
stocks .hare, pro rata.
_
Year ended—
Gross.
Total Net. Bond Int.
Mis cel. Sink.Fd.
Deficit.
$5,617
$52,028
$1,854
$48,264
17,502
59,440
3,270
45,20$
Dec. 31 1916— 391,726
49,080
64,009
1,500
$6,780
23.209
Pres., Charles Moran; Treas., R. Rosa, 68 William St., N. Y.—(V. 107
p. 1379, 1837; V. 109, p. 270.)
A NEVADA CENTRAL RR.—Battle Mt. to Austin, Nev., 94 miles.
3-ft. gauge.
Stock, $750,OOO, In $100 shares, largely owned by the Nevada
Company.
Interest payments on the $750,000 income bonds In recent
years: July 1906, 4%; Jan. 1908. 2)4%; Feb. 1909,1)4%] July 1911,1)4%;
Aug. 1914, 3)4%; March 1916,1%; Dec. 1917, 4%; none since. Pres., J. G.
Phelps Stokes, 100 William St., N. Y. City.—(V. 106, p. 86. 189.)
A NEVADA COPPER BELT RR.—Owns Wabuska
to Ludwig, Nev..
37.8 miles; Wabuska to Thompson, 2.50 m.; total, 40.3 miles.
Incorp. in
Maine March 22 1909.
Stock, $1,000,000, all Issued.
Bonds, see table.
In 1917, gross, $225,102, agst. $84,662 in 1916 and net, aft. taxes, $119829, against. $29,755.
In May 1919 signed co-operative contract.
Pres.,
Samuel Naphlay, Grass Valley, Calif.—(V. 96, p. 1840; V. 108, p. 1937.)
Dec. 31 1918—$293,510
Dec. 31 1917— 383,873
A NEVADA COUNTY NARROW GAUGE RR.—Colfax to Nevada City,
Oft!., 20)4 miles.
In May 1913 control was acquired by Oakland Antloch
A Eastern (Elec.) Ry. interests.
V. 96, p. 1630.
Stock, $250,200; par of
shares. $100 each.
Diva.paid: In 1882. 3%: 1883 . 6%; 1903 to 1905. 5%;
1906, 10%; 1909 and 1910, 2)4%; 1911, 6)4%; 1912, June. 6)4%; 1913.
5%; 1914, 16%: Mar. 1915 to June 1917. 2% quarterly; since (?).
Bonds,
see table and V. 98, p. 1157; V. 110, p. 360.
Year ending Dec. 3l 1916, gross, $135,858; net (for tax), $42,372; other
Income, $1,156; charges, $38,784; bal., sur., $7,290.
For 1917, gross,
$128,904; net, after taxes, $24,600.—(V. 98, p. 1695; V. 107, p. 2476.)
ANEW JERSEY INDIANA & ILLINOIS RR.—South Bend to Pine, Ind.,
12 miles.
Stock,
all
issued, $100,000;
par),$100.
Bonds, $250,000.
Mechanics' Trust Co., Bayonne, N. J., trustee.
Year ending Dec. 31 1919:
Gross
$174,367; net, $51,928; other income, $3,618; charges, $17,920;
divs., $6,000; surplus, $31,626.
In 1918, gross, $142,343; net, after taxes
(including $8,101 war taxes), $41,247; interest, $12,503; bal.. sur., $28,744.
1 1917
1 1917
5 g
6 g
7
5
MAN
J
A
J
J
A
J
J
A
J
A
A
O
1199778
6
5
9
J
A
not paid
Dec 1914 coup not
paid"
New York
April 1943
Union Tr Oo,
J July 1 1934
A Feb 1 1986
m*
4% paid Dec. 1917
Status 1919 unknown
Wells, Fargo Bk. San Fr
Meoh Tr
San Fran
Co.Bayonne.N J
N Y Central RR.
Office, 50 Church St, NY
do
do
do
do
New London Office
Apr 1 '20 2K%
Q—J
Cp MAM Bk.NY; reg md
J
A
J July 1 1940
New London Office
J
A
D 1990
F
A
MAN May 1 1950
J
A
J Nov 27 1985
J
A
J Dec 31 1932
F
A
A
5 g
8,348,900
Yearly
6,000,000 6 In 1919
MAN
5 g
1,371,000
J
A
J
7,195.000
143.000
coup
1914 coup not paid
May 11967 '
July 2 1938
June 1 1919
1920 to 1924
I
A Hart! ord
228,500
14,000,000
Dec 1914
Dec
July 1 1916
5
The Texas Mexican
Government owns $115,056,367
J Jan
l*
1903
I st con sol. M. 4
an
June 11915
J Jan
394,000
1,500
631,000
1,500,000
1,500,000
75,000
1,000 Ac
mo
1914
1916
RR.
D June 1 1915
J Jan 1 1917
A
250,000
1,700,000
500 Ac
100
196
196
A
A
1,000
1.000
Co
243
See text
J
500 Ac
100 Ac
121
paid
See text
11937
A
8g
910,000
New Hav
York
12
e
1 1934
J
49.000
do
Jan
6
en
do
do
Jan
6
750,000
622,000
89.000
| do
1915 coup not
Jan
A
1.509,752
813.055
1,403,000
Ac
Mar 1915 coup not paid
A
6
1,000
1,000
600 Ac
1.000
1.000
1917
1888
1909
li
20)4
$
MAS Sept 1 1947
MAS Sept 1 1977
M
A
Sept 1 1977
A
July 11934
746,000
released by U. 8. RR.
The Mexican
2.460,325
1914
Second mortgage
mortgage
1904
1903
1907
1913
1913
1913
$5,850,000
$500 Ac
600 Ac
$1,000
1.000
1,000
$ £ Ac
45, Ac
1914
gold_.z
Nevada Copper Belt RR—First M $1,000,000
Nevada Co N G RR—1st Mklue part yearly s. fdcallMortgage sk fd call 105 $500,000
US
New England—Also New Haven & Northampton—Se
New Jersey Indiana & Illinois—First M $250,000 gold
£100 Ac
1897
1897
1897
1914
Notes (for purchase of notes of Pan-American Co). .
Nevada-California-Oregon—
1st) M $2,200,000 $10,000 p m g call 105s f__Un..c*
Nevada Central—1st M gold non-oum ino (sk fd)_ Cex
General
[Vol. 110.
Control.
F
A
4)4 g J
A
4 g
A
Aug 1 1955
Columbia Trust Co. N Y
July 8 *19 6%
Nov 1 1940
New Orleans, La
Central Union Trust, NY
J P Morgan A Oo, N Y
Jan 1 1952
A Aug '20-Aug '24 New Orleans, La
D June'20-June '26 Bankers Trust Co, N Y
Guaranty Trust Co. N Y
July 11953
en mtge. of the National
pledged $ 3.000.00 0 under prior 11
pltal stock p 1 edged un der conso I. m. of National Rys.ofMex.ofMch 15'20
• there was
Pres., W. A. Ballard; V.-P., T. A. Hynes; Sec.,
H. J. Jackson.
Office, South Bend, Ind.
H. C. Weppler; Treas.,
★ NEW JERSEY JUNCTION RR.—Terminal road through Jersey City.
Hoboken 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 JERSEY & NEW YORK RR.—Owns from Erie Jot., N. J., to
Garnerville, N. Y., 29 miles; branohes to New City, Ac., 5 m.; operates to
Haverstraw, Ac., 14 m • total operated, 48 miles. Erie RR. in April 1896
purchased control. Stock, $1,440,800 com., $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,
net, after taxes. Ac., $200,235: other income, $28,760; charges,
bal., def., $52,304.—(V. 90. p. 914.)
years at
★ NEW LONDON NORTHERN RR.—Owns from
via Brattleboro, Vt.,"to South Londonderry, Vt.,
LEASED for 99 years from Deo. 1 1891 to Central
$882,063;
$287,646;
New London, Cemn..
158 miles.
Vermont. The rental
I. $213,552 per annum, whloh leaves a small surplus alter providing for in¬
terest, Ac., and 9)4% divs.
An extra div. of >4% was paid July 2 1917,
and Jan. 2 1918.
Taxes and improvements met by lessee.
V. 90, p. 1677
ANEW MEXICO CENTRAL RY.—Owns Santa Fe, N. M., to Torrance.
116.7 miles; 6-mile spur from Clark to Coal mines projected.
Incorporated
In Delaware In Jan. 1918 as successor of the RR., foreclosed and bid In
for Federal Export Corp. of 115 B'way, N. Y. V. 105, p. 1708; V. 106,
p. 499, 929.
Capital stock authorized, $2,500,000; par $100. No bonds
auth. or issued in Feb. 1918.
Pres., S. C. Munoz (N. Y.); Sec., Franklin
D. Wagner, and Treas., Fred. L
Watson.
OfTices of co., 115 B'way,
N. Y. City, and Santa Fe. N. Mex.—V. 106. p. 929.
ANEW ORLEANS GREAT NORTHERN RR.—Owns New Orleans, La.,
to Jackson, Miss., 182 miles, with branches, Rio, La., to Tylertown, Miss.,
42 m.; Slidell, La., to Folsom, La., Ac., 62 m., making a total of 285 mile,
operated, Inol. 29 m. traokage from New Orleans to Slidell, La., and other
trackage. 13 m.
Stock, $7,500,000.
1st M., $10,000,000 auth. issue:
Federal Compensation.—$595,952 yearly during Federal control.
Jan. 1 -Mar. 31
Jan. 1 -Dec. 31
1920.
1919.
1919.
1918.
$619,940
$527,157 $2,294,549 $2,197,315
Net
60,351
40,216
178,213
503,436
REPORT.—For year 1917, V. 107, p. 2093, showing:
Dec. 31—
Gross.
Net,aft.Taxes. Oth. Inc.
Int.,Rents, &c. Balance.
$1,916,218
$583,631
$192,351
$523,025
$252,957
1916
1.746.701
717.579
99.419
529.995
287.003
1915
1.658.477
539.511
3.113
533.623
9.001
Chairman, Walter P. Cooke; Pres., A. C. Goodyear; V.-P. A Gen. Mgr.,
Wm. E. Farris; V.-Ps., F. H. Goodyear, C. I. James and C. W. Goodyear;
Sec. & Treas., F. A. Lehr.—(V. 108, p. 1937; V. 110, p. 1415.)
ANEW ORLEANS & NORTH EASTERN RR.—New Orleans, La., to
Meridian, Miss., 196 miles; trackage, 8 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. 1529.
"AbVANCES" A^D "STANDARD RETURN," Ac —See page 5.
Federal Compensation.—$1,204,992 (contract signed).
The company re¬
fused the six months' extension of the Government guaranty.
DIV.—(%) i"06. '07. '08. '09. '10. '11. '12. '13. T4-'lo. '16. '17 '18.'19.
Yearly
\ 5
6
4
5
6)4 6)4 5
5
1 yrly 4
4
6
6
In Mar. 1917 a mortgage was authorized to secure not exceeding $16,000,000 bonds.
The initial $7,663,000 (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
reserved to retire the Prior Lien 6s and $363,000 to retire that amount out
of $605,000 equipment trusts outstanding Jan. 1 1917.
The remaining
*6 ©03,000 Dew bonds are reserved from additions and improvements under
restrictions.
The old bonds, except prior lien 5s. have all been retired.
V. 104, p. 865, 559; 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
oallable at such prices as the directors shall determine.
LATEST
Jan. 1 -Mar. 31
Jan. 1 -Dec. 31
EARNINGS—
Gross
1920.
1919.
1919.
1918.
$1,936,906 $1,478,427 $6,446,802 $6,474,717
427,716
17,882
521,522
1,282,302
REPORT.—For calendar year 1918 in V. 109, p. 2167:
Calendar Year—
Total Income. Int.,Tax.,&c. Dividends.
Surplus.
$1,249,739
$530,752
(6)$360,000
$358,987
1.677.218
567,819
(4)240.000
869,399
Pres., Fairfax Harrison; V.-Pres., T. F. Steele.—(V. 110, p. 970.)
A NEW ORLEANS LOWER COAST RR.—Algiers to Buras, La., 60 miles
Successor Dec. 1 1916 of New Orleans Fort Jackson & Grand Isle Ry., fore¬
closed and bid in for a syndicate.
V. 103, p. 407.
Pres., H. Hall, New
Orlaans; V.-Ps., Lee Benolst and T. G. Bush: Treas., Bernard McOloekey; Sec.. A. O. Kammer.—(V. 103. p. 1392; V. 104. p. 2343.)
★ NEW 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¬
penses of operation, maintenance, taxes and Interest.
Southern Railway
and St. Louis A San Francisco each owned half of the $2,000,000 outstanding
■took ($5,000,000 auth.), and Jointly guaranteed the bonds, but the St. L.
A S. F. on July 1 1913 defaulted and forfeited Its one-half share, the
Southern taking over 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.—(V. 98, p. 763, 1460; V. 100, p. 813.)
★ 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 ownes, 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, p. 257.
EARNINGS—
Gross
Net
NEWTON
b
\
POINTS
Cameron1
1
B
n
U
e
tj
Burnet
llano
ST. LANDRY
.Temple
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Georgetown
U-N
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I
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*
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*
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I 1
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=CS*ION7K\\^. V H- <* e \
t—(JEFFERSOI
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\^BURLESON
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Cainargo 'X5
COAST
LINES
Miles
Date
Par
Amount
Rate
When
Last Dividend
Road
COMPANIES
RAILROAD
Bonds
Value
Outstanding
%
Payable
New Orleans Texas & Mexico Ry.
litM $15,000,000 gold Ser A call 105—Col yyc*&r*
Non-cum 5% inc $25,000,000 g Ser A call par ,c*G
NOT&Meq notes ser B gu due $56,000 s-a
G
Newport & Richford—1st M $350,000 g gu C&P.SB.xo
New York Bay—First mortgage $6,000,000 gold.GPx
N Y Bklyn & Manhattan Beacb—Pref stock non-cum.
First cons mtge (now 1st M) gold guar by L I_.Ce.o*
N Y Central RR—Stock ($400,000,000 auth)„--Tr
„
„
.
1916
100 Ac
$5,870,000
1916
100 5cc
13.849,250
392,000
350,000
5.201.000
650,000
1,726.000
249,849,360
100.000.000
a40,000.000
1911
22
$1,000
1,000
1,000
1911
13
1908
100
17.27
17.27
1,000
1885
1915
100
Par
1914
Convertible bonds call 110 $100,000,000——c*&r*
$, £ 5c fr
1897
1909
do
do
Mtge on Spuyten D4PM g-Ce.
1897
826
Lake Shore 5c M 8 1st M gold, ass
U«.xc*&r
1903
do
Debentures (sec by 2d M) g, ass_Ce.xc*5cr
1906
do
do
do
gold assumed*
Ce.xc*Asr
(2) JV Y C A H Riv bonds secured by Consol'n Mtge etc on line N
1898
Collateral 3Ms (Mich Cent stock as collateral)-G.x
1898
b Lake Shore Collateral 3Hb assumed-—G.xc*&r
1913
b Consolidation M ($167,102,500)
Ba.xc*&r
1,828
Us.xc*&r*
1904
do
f
solldatlon M of 19131
a.sc*&r
(3) Other New York Central A Hudson River BR
Debentures (V 69, p 1102; V 71, p 502, 964)
x
Rome Wat&Ogdens 1st Con M ($500,000 3Xb)P.zc
Consol mortgage
F.zx
Utica & Bl'k Riv 1st M gold guar p & i—Ce.zt
1912
Con-J
1,000
1,000
1,000
1,000
1,000
All
1874
1890
1887
150
57
57
182
1894
182
1902
46
p&i(end)Col xc*
G.xc*&r
Carthage Ac Adirondack 1st M g guar
Un.xc*Acr
Carth Water & Sack Bar 1st M g gu p & I (end)—x
Gouverneur 5c Oswegatchle 1st M g gu p & i-Un.xc
Moh & Mai 1st M $15,000 p m g gu
Consolidated mtge gold
1.000
1,000
1,000
1,000
1,000
1,000
1,000 5cc
1,000
1,000
1,000
1874
All
1892
1892
29
1891
13
1892
1902
x
ferger of Jan
203
Indiana Illinois 5c Iowa 1st M gold
IC.xc*
337
Chic Ind A South consol M gold
G.xc*Ar
Kalamazoo 5c White Pigeon 1st M assum
Un.xc ,^37
a An additional $20,000,000
(not Issued to public) pledge
branches, aggregating about
273
-
m. is owned and 17 m. under trackage.
A total of about (see full details In V. 103, p. 61)
of which 256
Entire Stock and Bonds Owned—Operated
J
O Apr 1920 2X% Cheoks mailed
Treasurer Penn RR, N Y
O Oct 1 1935
May 1 '20. 1H Grand Central Term, NY
Quar
Grand Central Ter, N Y
M 5c
N May 11935
A
920
-
Separately.
San Benito & Rio Grande Valley Ry. (V. 103, p. 1593)
New Iberia 5c Northern RR., Port Barre to New Iberia, and branchesIberia St. Mary 5c Eastern RR. (leased to New Iberia 5c Northern)
65
72
49
and
De Quincy to Beaumont, 46.54 miles,
The Louisiana Southern Ry., 67 miles, is
operated separately under lease; see that company.
Principal trackage is from
Houston to Algoa, 24.32 miles.
ORGANIZATION.—Formerly part of St. Lousl & San Francisco RR
but In 1916 separately reorganized, after foreclosure sale, per plan in
V. 101, p. 774, 768, 1714; V. 102, p. 886.
Incorporated in Louisiana.
include
(see V.
103, p. 493);
First Lien Qold Bonds.—Total autb., $16,000,000.
Int. rate, not exceeding
6% per annum, as determined at
at the same or different dates, not
time of issue.
Issuable In series, due
later than Oct. 1 1925, and callable at
a premium.
Reserved under restrictions for future extensions, Improve¬
ments, Ac., $9,000,000.
Issued $6,000,000, of which in treasury
Dec. il 1917 $130,000.
V. 103, p. 61, 1593, 2156.
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
to 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, 1M%, made April 1 1917, and further 3\4% Oct. 1, making
6% for year; thereafter 2M%
semi-annually, 5% p. a. to and incl.
April 1 1920.
The entire Issue of
new
$15,000,000
stock has
been deposited until March
1
1921
with Willard V. King, N. A. McMillan and Cbas. H. Sabin as voting trustees
with power In majority on approval by the holders of not less than twothirds of the outstanding voting trust certificates, to sell, exchange or other¬
wise dispose of said stock en bloc.
All the'outstanding ($535,000)
receiver's
St. Louis Brownsville & Mexico Ry. 6%
equipment trusts due serially to June 1924 were called for pay¬
ment June 1
V. 106, p. 2011.
1918.
Jan. 1 -Mar. 31EARNINGS—
1920.
Gross
Net
-Jan.
1919.
$556,484
78,284
1919.
$407,182
21,765
REPORT.—For year 1918 in V. 109. p. 1361.
Calendar Years—
al918.
Total operating revenues
$8,013,713
income
on
income bonds (5%)
Rents, &c
Balance,
x
1910.
surplus
_
$6,661,229
$2,182,291
146,311
159,281
$6,410,378
$1,940,810
$2,295,752
684,444
633,918
Hire of equipment
Other Income
Interest
1917.
$1,885,623
388,484
$1,967,825
182,597
x!45,330
Operating income
Gross
1 -Dec. 31
1918.
$2,063,689
284,957
$2,487,884
y757,900
710,023
$2,044,805
$977,390
$1,019,961
$1,223,118
25,049
72,946
a
or
Includes $35,185 from income on funaed and $80,767 on unfunded
v 3 M % charged to income and 1H % to profit and loss
surplus.
Note.—The figures for 1918 unite the accounts of the Railroad Admin¬
comparison
on
5c
July 1 1997
J
5c
June 11959
J
5;
June 11997
do
do
M
5c
do
5c
Sept 1 1928
May 11931
Chicago, 3cc
do
M
O Oct
uffalo to
F
5c
A Feb
Feb
1 2013
N
Y.
London
Paris
5c
Grand Central Ter, N Y
do
do
do
do
1 1998
do
do
F
5c
do
5c
Feb
1 1998
1 1998
do
F
do
do
M
5c
do
do
J
5c
May 11934
Jan 1 1942
do
do
Grand Central Term.N
A
July 1 2000
July 1 1922
July 11922
J
July 1 1922
do
do
J
A
5 &
do
do
A
Oct
1 1927
do
do
A
Oct
1 1993
do
do
do
M
5c
Sept 1 1991
Mar 1 2002
do
do
do
J
5c
Dec
1 1981
do
do
5c
July 1 1931
do
do
do
do
M
5c
June 1 1942
&
July 11932
Am
J
5c
July 1 1950
J
5c
Jan
Lincoln Nat Bank, N Y
Treas Grand Cent Tern#
v
1 1956
Exch Nat Bk, N
do
do
7
5c
Jan 1 1940
due Sept I 15 1919.
Y
from May 1 1882 to the Long Island Railroad Co., which owns
majority of stock.
Rental, Interest on boDds and 5% on preferred stock.
Common 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
Dual
Rapid Transit system for operation by the
corporation (disregarding the "Standard Return")
the old basis when nob under Federal control.
OFFICERS.—Chairman, G. H. Walker; Pres., J. S. Pyeatfc; V.-Pres. &
Sec., Roy Terrell; Treas., J. H. Lauderdale.
DIRECTORS.—W. P.
Conway, G. II. Walker, Frank Andrews, Alex
Berger, Stedman Buttrick, Carl A. de Gersdorff, J. D. O'Keefe, Willard V.
King, G. E. Warren, Lorenzo Semple, J. O. Harvey, C. B. Fox, N. A,
McMillan, W. K. Blxby .and Elisha Walker.
N. Y. office, 60 Broadway.
—(V. 110, p. 765, 871.)
Interborough Rapid
V.108,p.379.
Transit Co., provided other necessary details can be arranged.
—(V. 83, p. 1348; V. 106, p. 818.)
★ (THE) NEW YORK CENTRAL RAILROAD.—{See Maps pp. 88 ana
^ £©0 direct line from New York to Chicago, 953 miles (four
ct
bracks N. Y. to Buffalo, thence two tracks), and numerous branches,
the
total mileage owned Dec. 31 1918
control of the West Shore RR.
aggregating 3,699 miles. Also owns stock
(leased), N. Y. to Buffalo and thence to
Chicago, via Michigan Central RR. and Canada So. Ry.
By similar
control of the Pittsburgh & Lake Erie RR. the Cleveland Cincinnati Chicago
A St. Louis Ry. and other companies, has close running connection to Pitts¬
burgh, Columbus, Cincinnati, Indianapolis, St. Louis, &c.
Total system
owned, controlled, &c., Dec. 31 1918 about 12,666 miles, viz.;
Operated Directly. 0,070 Miles of Road,
Lines Owned—
New York to Chicago
Branches
Miles.
953
2,746
Lines Leaded, etc. (*See this co.)—
West Shore*
479
Troy & Greenbush*
6
New York & Harlem*
136
New Jersey Junction*
6
Detroit Toledo & Milwaukee.47
Kalamazoo A. & G. R
58
St. Lawrence & Adirondack*..
56
....
Ottawa & New York
57
Battle Creek & Sturgis
164
...
135
33
70
Beech Creek Exten. RR., Ac.*Walkill Valley
Mahoning Coal RR*
-
65
Detroit Hillsdale & S W*
Fort Wayne Sc Jackson*
Lake Erie Alliance & Wheeling.
Erie & Kalamazoo RR
Trackage rights, &c,
98
88
22
-
-
Total in earnings Dec. 31
456
'18.5,682
Leased—Operated separately—
Boston &
Albany system
Separately—6,596
Michigan Central*
1,862
902
Lake Erie & Western*
Clev. CIn. Chic. & St. L. Syst.*2,390
Cincinnati Northern*
246
Pitts. & Lake Erie System*
225
Chicago Kalamazoo & Saginaw
436
Kanawha
177
Michigan
Miles
393
of Road.
Zanesvllle & Western
87
Indiana Harb. Belt (V. 93.P.164)
110
Toronto Hamilton As Buffalo—
104
Total oper. separately..-..
6,590
45
Toledo Ac Ohio Central
&
Beech Creek RR.*
7
Controlled—Operated
Grand total Dec. 1918,less 249
miles
duplicated about
ORGANIZATION.—The New York Central RR.
Co.
was
12.422
formed by
consolidation, effective Dec. 23 1914, under laws of N. Y., Perina., Ohio,
Ind., Mich, and III., of the N. Y. Central & Hudson River RR. (as enlarged
1913 by the absorption of Rome Watertown Sc Ogdensburg and other
New York branch lines; see bond table above) and its leading Western subsldlair, the Lake Shore & Mich. So. Ry., and 9 minor controlled properties.
See V. 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 As
St. Louis RR. to Cleveland Interests.
V. 104, p. 1598.
Entire stock
Clearfield Bituminous Coal Co. Is 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, AcC., V. 105, p. 819, 998.
In
Partial List of Stock Holdings and Approx. Divs. Received Thereon for 19183
Total Outstanding
Amounts OwnedDivs. 1918
Pref. Stks.
Com. Stk.
$10,819,300
17,993,100
Mah.CoalRR.
399,500
865,900
O.O.O.&St.L
30,207,700
Lake E. Sc W_5,930,000
5,940,000
Tol. & Ohio 0-3,701,400
5,846,300
N. Y. & Har„l,141,450
5,532,450
Reading f 1st pf6,065,0001
9,852,500
Co.— I2dpfl4.265.000j
N.Y.StateRvs.
600
13.604,300
Moh. Val. Co
5,114,300
Mich.
821~687
securities,
istration with those of the
5c
J
(1)
Capital Stock.—*25,000,000; Issued
&
A
"STANDARD RETURN," &c.—See page 5.
In Oct. 1919 contract with U. S. Government was still pending.
SECURITIES.—These
&
A
years
(With oper. connection over 111. Cent, to New Orl., 93 m.)
Miles.
Main line from Baton Rouge via Houston to Brownsville, Tex., about647
Of the foregoing 564 m. is owned and 85 m. is under trackage.
Various
J
4,850,000
1,000 5cc 15.150,000
1.000
400,000
secure $15, 000,000 2-y
1901
1906
1890
d to
&
1915
1,000
and M ar
1917 (Including Aforesaid Subsidiary Lines).
System Operated Dec. 31
6,500,000
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
Payable
M &
19,336.000
25,144,000
65.434.000
48,000,000
9,188,000
5cc
5cc
5cc
5cc
5cc
Where Interest and
Dividends are
5c
A
60,000,000
60.000.000
60,000,000
Y to Buf falo, 5cc., a
1,000
1,000
1,000
1,000
1,000
Places
D Oct 11925
Guaranty Trust Co, N Y
Oct 1
O Oct 1 1935
1919 pd
s-a
S15 Sept 20-Sept*23 New York
Safe Dep & Tr Co,Boston
&
J Jan 1 1941
&
J Jan 1 1948
Treasurer,
Philadelphia
J
5in'17^19
94,000.000
2,500,000
5cc
5tc
5cc
5cc
5tc
Assum ed.Ac. Issues—
1900
1 bond
New York & Northern first mortgage gold
zc
N Y & Putnam cons g gu p & i
Un,xc*&r
Little Falls & Dolgeville first mortgage
(4) Bonds of Other Companies Included in
(Vol. 110.
and Maturity
[For abbreviations, Ac., see nohs on first page)
Debentures! Junior liens under
^Control.
RAILWAY STOCKS AND BONDS
*8SBST
92'
Central
Pitts. & L. E
Pref. Stks.
None
None
Com. Stk.
$18,738,000
35,985,600
1,500,000
47,056,300
11,840,000
6,500,000
8,656,050
661,367
10.000,000
11,840,000
3,708,000
1,343,950
28,000,000 /70.000.000
42,000,000 I
3,862,500
19,952,400
None
7.500.000
to N.Y.C.
$072,772
1,799,310
452,925
-
695,000
1,001,400
48,281
Also stock of West Shore,
&c.
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.
STOCK.—Dividends
on stock reglst. In London are pay. at 49 Hd. to $.
amount of the capital stock is $400,000,000, of which
Jan. 1 1919 $249,849,360 was outstanding, $100,000,000 is reserved for
conversion of debentures of 1915.
The Ohio P. U. Commission in April
The authorized
on
NEWPORT
&
SHERMAN'S
VALLEY RR.—Newport to New Ger-
mantown. Pa., 31 miles.
Stock, authorized, $180,000; outstanding Dec. 31
1918, $165,100; par, $50.
Bonds, $200,000 Ref. M. 30-year 5s due 1938;
$250,000 auth. Issue; int. J. & J. at Real Estate Trust Co., trustee; denomi¬
nations $100 and $500.
The bondholders under the First Mtge. in March
1920 purchased the road for $40,000.
For year ending Dec. 31 1918, gross,
$61,475; net, $3,952; other income, $294; int., taxes, &c., $16,397; bal., def.t
$12,150.
Pres. & Gen. Mgr., David Gring.
Office, Newport, Pa.—
(V. 110, p. 78, 1415.)
^NEW' YGRiT"BAV*1RrT—Owns* fromKearney^Junction,
N
~J.,*
to
Waverly, and from Waverly to the bulkhead line at Greenville piers, on
New York
Bay, 10.94 miles, with branches, 2.00 miles; total, 12.94 miles.
Stock, $6,000,000, all owned by Penn. RR.
Mortgages payable Dec. 31
1917, $250,000.
Divs. at rate of ltf % during 1918 paid on stock.
Of the
$5,201,000 1st M. 48, $960,000 were owned by the Penn. RR. on Dec. 31
1918.—(V. 86, p. 920, 982.)
1918 reapproved the company's application to isuse $4,219,976 additional
capital stock.
V. 106, p. 1461.
Dec. 311918 the Oregon Short Line RR. Co. (Union)Pacific) owned $21.000,000 N. Y. Central stock; also $3,000,000 Ref. Sc Impt. M. 4>js and
$8,000,000 20-year 6% convertible bonds. V. 84, p. 52, 571; V. 89, p. 411.
DIVS.
1 '07. '08. *09. '10.
'11. '12-T5. '16.
17.
'18.
1919.
1920.
Perc'nt../
6
5H
5
5H
5H
5 yrly.
5
5
5
>5
text
In 1920: Feb. 2,\M%\ May 1, 1H%.
Consolidation Mort. $167,102,400 Secures Without Increasing Debt.
exchanged
for Consolidation Mtge. Series A 4s.
See below.)
(6) N. Y. Cent. 3H% Mich. Cent. coll. bonds of 1898-1998
19,330,000
(2) Equally by Lien Subsequent to Lien of Aforesaid—
(c) N. Y. Cent, debentures of 1904, due 1934
$48,000,000
(d) N. Y. Cent, debentures of 1912, due 1942
9,188,000
(e) 4% Consolidation Mtge. bonds dated, Aug. 1 1913 and due
Feb. 1 1998, issuable in series A, B, O and D only to refund
above collateral bonds and debentures, respectively.
See below.
.
-
NEW YORK BROOKLYN & MANHATTAN BEACH RY.—Owns
from Fresh Pond Junction to Bay Ridge, 11.95 miles; Manhattan Beach Jet.
to Manhattan Beach, 3.73 miles; Evergreen
Branch,
Jefferson
St.,
Brooklyn,
1.59
miles;
total,
17.27
Cooper Ave. Jet.
Leased for
miles.
to
99
*8ssr
MAT, 1920.]
AM.
RAILWAY STOCKS AND BONDS
New York Central RR (Concluded)—
Pine Creek 1st M gu prin and int endorsed
r
Sturgis Goshen & St Louis 1st M gold p Sc I guar—z
Amount
Rate
Bonds
Value
%
Payable
Places Where Interest and
Dividends
are
Payable,
6
J
A
3 g
J
A
D Dec 1 1932
D Deo 1 1989
11,000.000
11.800.000
4 g
J
A
D June 11959
4X e A
A
O Apr
O Yrly to Oct *27 New York
J Jan 1921 to '32 Guaranty Tr Co, N Y
O Apt 15 *21 to '35 Guaranty Trust Co, N Y
1885
1889
*1:888
$3,500,000
322.000
1909
1911
1,000 Ao
1.000 & c
1912
1917
76
29
Last Dividend
and Maturity
When
Outstanding
Par
Bate
Miles
Road
RAILROAD COMPANIES
{For abbreviations, Ac., see notes on first page]
93
do
do
Jamestown Franklin A Clearfield—
1st M $25,000,000 auth guar
(J.xc*Ar*
Cleveland Short Line Ry 1st M gold guar..G.xc*Ar
Lake Erie & Pittsburgh—see that company—
(5) Note, Ac., Issues—
Equip trust (B Sc A) $500,000 due yrly—G_zc*Ar
Equip tr $570,000 yrly due Jan 1
-—G.yc*Ar
Equipment trust $2,415,000 yearly April 15-G.c*
Collateral loan from Central Union Trust Co ext—
Collateral note issue $15,000,000 gold ——G-c
Kalamazoo Allegan Sc Or Rapids—See this company
/
1,000Ac
l.OOOAc
500 Ac
3,500,000
p7,088,000
36,225,000
6,000,000
4X g A
4X e J
A
1920
1918
1919
A
&
Uodo'&c
15,000,000
6K
1907
1910
1912
1913
$l,000Ao
1,000 Ac
1,000 Ac
1.000 Ac
$4,000,000
10,000,000
7,000,000
12.800.000
le
A
Grand
1 1961
May
Gent
do
Term,
do and
N Y
Lond
5 1920
M A 815 Sept 15 1920
do
do
Erie & Kalamazoo—See that company.
New York Central Lines (incl various associated c OS)—
Joint eq tr g $2,000,000 an (V 86, p 920)--(l.zo*Ar
do
do
$2,000,000 an (V 90, p 914)— G.zo*Ar
do
do
due $1,000,000 yearly..
Q zc*Ar
do
do
due $1,600,000 yearly
G.zc*Ar
•
P
MAN May 1921-1922
5 g
A
J Jan 1 1921-25
4X g J
A
J Jan 1921-1927
4X g J
A
J Jan 1921-28
4X g J
"
Guaranty Trust Co, N T
do
New
do
York
and
London
$7,866,000 owned by company or pledged by it on Dec. 3 1 1918.
'
.
Consolidation Mortgage
The
(securing the collateral issues and other
by a lien ranking ahead of the Re¬
(ind. those then
brought In by consolidation or merger), 75% (3.750 shares) of the stock of
Hudson River Bridge Co. at Albany and the leases of Troy A Greenbush,
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
$100,000,000 1st M. of 1897; and on the railroads consolidated or merged in
1913, such as the Rome Water town A Ogdensburg, 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.
(snot limited to a stated amount, but is determined bv standards set 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
tions of the
1 •"
$50,000,000 3H % 1st M. of 1897 (see V. 64. p. 1182), and has
lien of that mortgage over the railroads. Sec., formerly
bonds in the order Indicated above) covers
extended
fund. A Impt. Mtg. (see below), the lines owned in 1913
owned by Det. Monroe Sc Toledo RR. Co., Northern Central Mich. RR.
Go.. Kal. Sc 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 amount of Ref. A
with.
Impt. M. bonds outstanding cannot exceed
three times the amount of the capital stock as from time to time increased.
After $500,000,000 of the bonds shall have been issued, not more than
80% of the cost of improvements, additions or new
for from the
of bonds
panies.
bonds
can
property can be paid
proceeds of bonds.
Not more than one-third of the amount
be used in the acquisition of bonds or stocks of otner com¬
After $500,000,000 of bonds shall have been issued, no additional
can
be issued without the vote of stockholders.
Each Issue of bonds
must receive
p.
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. 2757.
The Ref. A Impt. M. is (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 Wallkili Valley railroads, subject to the out¬
standing bonds of each.
(3) A first collateral lien on $500,000 2d Mtge.
bonds of Beech Creek RR. and $3,964,000 Consol. Mtge. 4s of the
Creek Extension RR. companies.
(4) A first collateral lien on—
Beech
Pledge of Stock ovoned in—Pref. Stock. Com, Stk.
Pref. Iss'd. Com.Iss'd.
N. Y. A Harlem RR.(par$50)$l,111,300 $5,069,400 $1,343,950 $8,656,050
West Shore RR
10,000.000
10,000,600
Beech Creek Extension RR..
6.179,000
6,179,000
New Jersey Junction RR
100,000
100.000
The Refunding & 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¬
ing the lien thereof over the former Lake Shore Sc Mich. So. Ry., Chicago
Ind. Sc So. RR., Geneva Corning Sc So. RR., Dunkirk Alleg. val. Sc Pitts.
RR. and all of the other properties included in the consolidation of 1914,
.
...
........
....
and also
over
the former Cleveland Short Line Rv.
Jamestown Franklin Sc
Clearfield RR., Sturgis Goshen Sc St. Louis Ry. and Elkhart Sc Western
RR., acquired by conveyances in 1915 (see "Organization" above).
The
Hen 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.——
$100,000,009
Consolidation Mtge. (see above) dated 1913, due 1998...... 167,102,400
the obligations of the mortgage dated July 1 1914, securing the 25-year
4% gdld bonds of 1903 and 1906, aggregating $100,000,000 (two issues,
$50,000,000 each), and extending the lien thereof to said add'l properties.
As to guaranty of Kanawha Sc Hocking Coal Sc Coke ana Continental
Coal Co. bonds, see V. 109, p. 1527.
EQUIPMENT BONDS.—See "N. Y. Central Lines" below.
B. Sc A. equipment trust, see V. 95, p. 1040, 1332, 1403; V. 98, p. 1072.
Equip. Trust of 1917. V. 105, p. T209; V. 106, p. 396; V. 104, p. 2235,
1598.
In Mar. 1919 $2,666,000 of this last issue had matured or been
canceled; $2,808,000 was still unissued; $14,521,000 were outstanding,
including $7,410,000 sold that month, along with $7,800,000 Michigan
Central and $2,133,000 "Big Four" Equip. Trust 6s. V. 108, p. 973,1061.
Equipment trust of 1920, V. 110, p. 1526.
Equipment trusts issues to Director-General for rolling stock allocated
to this company.
See article on page 3.
ANNUAL COMPENSATION.—By Govt, contract (V. 108, p. 79, 2337),
New York Central proper, $55,802,630.
Subsidiaries, viz., Toledo Sc Ohio
Central Ry., $1,086,650; Zanesville & Western, def. $107,598; Kanawha Sc
Michigan, $1,295,141; Kanawha & West Virginia, $45,260; total, $58,122.084.
The total
compensation aggregates $87,629,534 when the'subsidiaries
(separately operated) shown below are included, viz.: $9,945,738 for Olev.
Cin. Chic. Sc St. L. RR. and Muncie Belt RR.; $8,980,219 for Pittsburgh Sc
Lake Erie RR.; $317,628 for Cincinnati Northern RR.; $296,053 for Indiana
Harbor Belt RR.; $8,105,727 for Chicago Kalamazoo & Saginaw
29,509,000
197,002.000
Convertible 6% 20* Year Bond Issue of $100,000,000 Dated May 11911.
These bonds are convertible into stock at the rate of $100 of stock for
$105 of bonds, between May 11917 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
$00,000.
See "General Finances
below and V. 100, p. 556, 643, 693-4,
813, 902. 1349, 1438, 1833; V. 102, p. 1443; V. 109, p. 72.
OLD BONDS OF N. Y. CENTRAL Sc HUDSON
RIVER RR.—First
mortgage is for $100,000,000. covering the original road owned, and, by
•unolemental
deed.
930
miles
of lines
(Rome
Watertown
Sc
Ogdens-
See.) merged In 1913.
V.77, p.452; V. 86. p. 1043.1101; V. 88.
606; V. 94, p. 208; V. 96. p. 1424.
Collateral trust 3X* of 1898 were secured by deposit of stock of the Lake
Shore Sc Mich. Sou. and Mich. Central RRs., respectively, at the rate of
$100 of L. S. Sc M. S. stock for each $200 of bonds and $100 of Mich. Cent.
bun,
p.
Northern Central Mich. RR.. Kalamazoo Sc White Pigeon RR. and Swan
Creek By, of Toledo.
See the "Consolidation Mortgage" above. V. 96,
1424; V. 66. p. 336,811; V. 102, p. 522; V. 100, p. 556,2085; V. lOl.p.288.
New York Central Railroad Co. has duly made an indenture
secure the
payment of (a) the 3X % gold bonds. Lake Shore Col¬
lateral and (6) oy 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 3H % gold bonds. Lake Shore collateral (the two issues
aggregating $90,578,400) ,by a lien upon the railroads,Ac., formerly owned by
the Lake Shore, and also on the property of its four former subsidiaries,
viz.: Det. Monroe Sc Tol. RR. Co., Nor. Central Mich. RR. Co., Kal. Sc
White Pigeon RR. Co. and Swan Creek Ry. of Tol., such lien following the
p.
The
to
,
Hen thereon of Lake Shore Sc Mich. So. 1st M. 3Xe of 1897 and the $100,000,000 Lake Shore debenture (now mortgage) bonds of 1903 and 1906.
LAKE SHORE Sc MICH. SOUTHERN BONDS.—The N. Y. Central
RR. by supplemental indenture (dated Jan. 1 1915) assumed the obliga¬
RR. and
Michigan Central; $1,548,541 for Lake Erie Sc Western; $127,081 for Lake
Erie Sc Eastern RR., and $186,460 for Detroit Terminal RR.
FINANCES.—U. S. RR. Admin. Jan. 1 1919 had advanced funds as
follows:
Made on—
Rental account——
Notes.—.
N.Y.Cent. Pitts.&L.E. Mich.Cent.C.C.C.ASt.L.
$30,400,000 $1,400,000 $3,050,000 $2,650,000
20,000,000
700,000
7,050.000
5.300,000,
The other company advances on rental account to Nov. 1 1919 Include
L. E. & W., $470,000; K. & M. Ry., $300,000; Indiana Harbor Belt,
$200,000; T. Sc O. O. Ry., $570,000.
Venner suit, V. 108. p. 1275, 1937.
In May 1918 borrowed $6,000,000 from Central Union Trust Co. at 6%
,
„
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
for
to
V. 106, p. 2123; V.
May 1920.
107, p. 1920.
K
nnn
■
.
In Sept. 1919, to provide funds for the payment of $15,000,000 5% notes
due Sept. 15 1919, company sold $15,000,000 One-year 6% notes, due
Sept. 15 1920, secured by pledge of $20,000,000 Ref. Sc Impt. 4Xs and
75,000 shares of Reading Co. First Pref. stock.
V. 109, p. 1080, 1180.
Company's real estate holdings in N. Y. City. V. 106, p. 607.
In June 1918 there had been no cases where dividends of lessor companies
had been reduced as a result of war taxes. V. 106, p. 2757.
Jan. 1 -Mar, 31
Jan. 1 -Dec. 31
EARNINGS.—
1920.
1919.
1919.
1918.
Gross
-—$75,752,472 $68,765,904$310,715,575$294,823,035
Net
6,576,667
8,639,625
61,774,941
62,419,330
.
.
-
REPORT.—For year ending Dec. 31 1918, V. 108, p. 2324, 2337.
U. S. Oper. —Company Operations—
Calendar Years (All $)—
Operating revenues.
Operating expenses, taxes, Ac..
.
1918.
1917.
1916.
-269,270,957 216,267,517 201,585,048
-221,928,599 164,857,195 138,241,031
Operating income
-
17 divisional issues of N. Y. Cent. Sc Hud. River RR
Old bonds of Lake Shore and other cos. absorbed in 1914-15...
the
Federal compensation
—
Rents, Sec., received
Separately operated properties
—
—
Dividend income
Income from funded securities..
Income from unfunded securities, Ac.
—
Gross income—
War taxes
Rent for leased roads
on funded debt
Interest on unfunded debt
-
—
.
Equipment depreciation account
Dividends paid (5%)
Items prev. years (U. S. Admin.)
surplus
2,151,740
9,314,910
29,432,623
2,004,364
51,410,322
63,344,017
4,690,680
626,808
7,464,994
470,716
2,209,506
4,460,665
11,099,697
476,467
2,235,812
66,873,026
85,967,446
2,480,452
2,584,688
6,462,350
29.099,072
762,807
2,200,652
2,264,661
6,354,581
28,871,300
617,036
—
-
4,350,787
—
12,479,610
6,548,224
-
Balance,
500,845
3,796,923
69,270,921
2,017,502
.
Hire of equipment
Miscellaneous
Interest
47,342,358
55,802,631
1,643,550
1,147,244
6,379,729
5.321,948
2,500,000
12,466,611
12,479,603
13,004,054
'^jzzzzzzzz.
30,692,606
OFFICERS.—President, A. H. Smith; Chairman, Chauncey M. Depew,
Vice-Presidents, A. T. Hardin, Ira A. Place, A. H. Harris, G. H. Lngalls;
J. Carstensen; Treas., Edw. L. Rossiter; Sec., E. F. Stephenson.
Direc¬
tors: Wm. K. Vanderbilt, F. W. Vanderbilt, O. M. Depew, Harold S.
Vanderbilt, William Rockefeller, Geo. F Baker, W. K. vanderbilt, Jr.,
Ogden Mills, R. S. Lovett, Bertram Cutler, Albert H. Harris, Edward S.
Harkness, Samuel Mather and Frank J. Jerome.—(V
110, p. 871, 970,
1188 )
YORK CENTRAL LINES.—The N. Y. Central Lines equip,
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. 1598; V. 102, p. 345; V. 103,
NEW
trusts cover engines, passenger cars
of the system, which
p.
1792, 1981; V. 104, p. 362; V. 109. p. 1793; V. 110, p. 167.
ANEW
YORK
CHICAQO & ST,
LOUIS RR.—Owns from Buffald,
Illinois State line, except 8 miles leased between Dunkirk and
Silver Creek, leaving 495 miles;
leases the proprietary line, Chicago Sc
State Line RR., Illinois State line to 71st St., Chicago, 10 miles; also leases
Dunkirk to Silver Creek, 8 miles; total, 513 miles; trackage in Buffalo.
N. Y., to
N. Y., 2 miles, and 71st St., Chicago, 111. (Lake Shore RR.), 8 miles.
Nickel Plate Conn. RR. (4 miles projected at Buffalo), V. 105, p. 819.
RAILWAY STOCKS AND BONDS
^ConSactf111
94
4
Last
RAILROAD COMPANIES
Mile*
Date
Par
Amount
Rate
When
{For abbreviation*, Ac., see note* on first pane]
Rood
Bond*
Value
Outstanding
%
Payable
New York Chicago & St Louis—Common stock...
Second preferred stock (5% non-cumulative)
First preferred (5% non-cumulative)
....—
First mortgage gold (closed)
Ce.xCAr
2d & Impt Mtge $25,000,000 g Ser A—CICl.xxxke*
Debenture bonds gold sec by 2d Mtge
G.xc*&r*
Eqpsof *16 $1,100,000 duelllO,000 each Aug lQ.cJ
Equipment trusts due $30,000 yrly Oct 1...... Q
do
do
sink fd red 101 A Int
xxc*
N Y Conn RR—1st M g red 105 begAug'18-a.yc*Ar*
N Y & Greenw Lake—Prior lien M gu p A i.N.gxc*
New York & Harlem—Common 14%, 10% guaranteed
Preferred stock 14%, 10% guaranteed..
Ref. mtge (now first) $12,000,000 guar—G.xo*Ar
N V Lackawanna & Western—Stock guar15%-. (end)
First mtge guar by Del Lack A Western
Pjco*
Construction mtge guar by D L & W (end).._Pjtc*
ThirdMTerm Imp ($5,000,000) guarp A1 (end).Fr
New York Lake Erie & Western—see Erie RR
54
149
146
136
......
1900
214
214
214
214
w
1880
1883
1890
ew
100
Pref. aAd stock 7% cum $45,000,000 call 110
Debentures ($5,000,000 are 4s) non convert-.zo&r
Debentures (for F H A W) (V 78, P 2335)
—x
Debentures (for NYOAW) (V 80, p 2458) ,zo*Ar
Debentures convertible (see text)
xo* Ar
Debentures not convertible
z
European loan
($29,000,000).
x
Debentures $39,029,600 gold conv (text) ....zo'Ar
Debs N.H. station due $100,000 yly (V. 106, p.1675)
Notes to IT 8 Gov call (U 8 par, others 102)..-text
N Y Pr A Bost gen M (now 1st) gass.$4,000,000zcAr
62
87
363
Housatonlc con M
($3,000,000) g (assumed)-P zo*
(now 1st) M $17,500,000 5s g gu.Ba.zo*
N Eng cons
NY&NB Boston Term 1st M $1,500,000- AB.zoAr
Providence A Springfield 1st M gold assumed...zo*
"oo
4 g A
2,500,000
100 157.117.900
1,000
1891
38
RY & Long Br—Gen MA Hartford—Stock (see text).
York New Haven (now 1st) $2,500,000 g-Ce.o*
Dividend
and Maturity
Mar 11913 4
$100 $13,939,600
100
May 1920
2
10,999,800 See text
Jan 23 1920 5%
100
4.997,900 See text
A
&
O Oct
11937
4 g
1.000
18,220,000
M
&
N May 11931
500 Ac
4,956,000
5 * MAN May 11931
1,000 10,000,000
F
A
A Aug 1 '20 to *26
770.000
1,000
A
A
O Oct 1 *20 to '26
210,000
1,000
MAN May
1 1931
3,670,000
1,000
A
A Aug 11953
4H e F
1,000 Ac 24,000,000
MAN May 11946
5 s
100 Ac
1,471,900
50
8,656.050 See text See text See text
50
1,343,950 See text See text See text
334 g MAN May 1 2000
1,000 Ac 12,000,000
5
100
Apr 1 1920 1X
Q—J
10,000,000
J
A
J Jan
6
11921
12,000,000
1,000
F
A
A Aug 1 1923
5
1,000
5.000,000
4
MAN May 1 1923
1,000
5.000.000
1887
1918
1906
1916
1916
1917
1913
1896
605
505
9,991,000
9,997,900
15.000,000
8,913,350
If Regie, int. on 1st M. 4s and deb. at Treas. Office, Olevel and.
a
"STANDARD RETURN," Ac.—See page 5.
In Oct. 1919 the company had not yet concluded a contract with the
U. S. RR. Administration.
The so-called "standard return," as certified
A
S Moh 11947
A
3H
O
A
Apr 11954
July 11955
A
Jan
4
A
I g
A
May 1 1956
Apr 1 1922
334
J
£ *
A
M
66°
A
are
Payable
do
do
do
de
UChase Nat Bk,
N
Y
New York
Chase Nat
Bank. N Y
Guaranty Tr Co, N Y
Guaranty Tr Co, N Y
New York and Cleveland
See "a" below
50 Church St, New York
Grand Central Term,NY
do
do
do
do
Del Lack A
West. N Y
do
do
do
do
do
do
1 1956
J15 Jan 15 1943
N Nov '20-Nov '24
Lincoln Nat Bank, N Y
Second Nat Bank, N H
Lincoln Nat Bank, N Y
Second Nat Bank, N H
Lincoln Nat Bank, N Y
J P Morgan A Co., N Y
Second Nat Bk.New Hav
Apr 15 1920
Apr 1 1942
OentUnlon Tr Co, N Y
Farmers' L A Tr Co, N Y
Safe Dep A Tr Co.Bosten
July 1 1945
A
A
O Apr 1 1939
Coup, office; reg, mailed
5 g
J
A
Lincoln Nat Bank, N Y
July 1 1922
Exch. Nat .Ban k; coup. Int. Tr •as. of Pens. RR., Phila
A
4e
A
O
MAN Nov 1 1937
g A
1,600,000
750,000
.
Reg. interest Am
Dividends
Cleveland, Ohio
Liberty Nat Bank, N Y
Sept30'13 IH% Go's office, New Haven
334 A 4
15,000,000
27,582,691
38.541,200
500,000
43,026,500
1,000,000
2,839.000
17,500,000 4
Places Where Interest and
MAS Sept 1 2941
5
NoneApr'20
1,000
'97-'0l
600 Ac
1904
1,000
1905
100 Ac
1906
1906
frcs A $
1907
100 Ac
1908
1916
1918 LOOO Ac
1,000
1892
1,000
1887
1,000
1895
1,000
1889
1.000
1892
[VOL. 110.
^CottSol.
er.
5 g J
A
J
is double track; D. L. A W. has a lease for duration of charter from Oct.
m..
1882, giving
a
guaranty of the bonds and 5% yearly on the stook. See form
x>nds in V. 67, p. 1357; see also V. 68. P. 283.
of guaranty of terminal
by the I.-S. G. Commission, Is $2,218,857, In addition to which non-operat¬
ing income in 1918 amounted to about $25,000, making total income of
$2,243,857; against this the deductions for fixed charges, war taxes and
corp. expenses would be $1,542,674.
The figures shown for 1918 (shown
below) include for purposes of comparison the results of operation under
Federal control ana the Income expenses and charges of the railroad cor¬
poration.
Y. 108, p. 1061.
The company refused the six months' exten¬
sion of the Govt, guaranty.
★ NEW YORK A LONG BRANCH RR.—Perth Amboy to Bay H6ad, N. J..
Operated under an agreement made in 1888 for a period of 99
years with Peon. RR. and Cent. RR. of N. J., whloh jointly and severally
rnarantee interest and 7% on the $2,000,000 stook. all owned by Centra)
RR. of N. J.
Of the bonds $192,000 are 56.
Pres., George F. Baker;
Vice-Pres., Robert W. de Forest, and Sec. & Treas., F. T. Dickerson.—
(V. 72. p. 438.
STOCK.—In July 1916 Cleveland? Interests bought the control of the
property from the New York Central RR. Co., viz.: $6,240,000 common,
$6,275,066 2d pref. and $2,603,000 1st pref. stock.
In payment was given
$2,000,066 cash and $6,500,000 notes (secured by the stock and bearing 4%
Interest for five years and 5% thereafter—one note due $656,000 in 1921
and the others for like amount at Intervals of one year thereafter.
Y. 103,
p. 146.
The Nickel Plate Securities Corporation was Incorporated in Dela¬
ware on Dec. 4 1916 with $15,000,000 auth. capital stock ($2,569,666 pref.)
to hold the control of the N. Y. Chicago A St. Louis (known as the Nickel
Plate road).
Principally a freight road.
V. 103, p. 2238; V. 164, p. 1S99.
After 5% on $14,000,000 common stock, all classes of stock share alike.
★ NEW YORK NEW HAvEN & HARTFORD RR.—Covers Southern New
England and the only direct routes between New York and Boston
Lines owned in Fee—
Miles.
Leased {part owned)—
Miles.
Woodlawn Jet. N. Y., to Provi¬
Old Colony RR. (which see)
532
Lines Leased—
*
dence, R. I—
173
48
Providence and Worcester.....
Boston, Mass., to Hopewell Jet.,
N.Y
71
213 Norw. A Worcester (which see)
New Haven, Conn., to Spring¬
Other lines..
109
field, Mass..
120 Track to New York City, Ac.
Lines
to
51
Plttsfield, Litchfield,
(V. 88, p. 53)
Springfield, &c__
.687
Total oper. Jan 1 '20(abt. 115 m. has four A abt. 811 m. two traeks). 1,965
DIV8. (since 1908)
First preferred
Second preferred
Common
'17. '18. 19. '20
5 y'ly
5
2X
0
5
5
5
2H See
5 y'ly
5
2H
0
0
5
2^.. text
3
3 y'ly
4
0
0
0
Paid 5% on 1st pref. Jan. 23 1920, and 234% on 2d pref. May 1 1920.
BONDS].—First mtge., abstract, V. 45, p. 641.
The stockholders on July 2 1918 authorized a "Second & 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 thedirectors.
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. 16700
Equip, trusts, V. 103, p. 1032; V. 104. p. 952,1592,1801; V. 106, p. 2007.
*09. '10.'11-'12. '13. '14. *15. '16.
....
5
5
0
7M
7H
--
Jan.
EARNINGS.—
Gross
Net....
„
l-Mar. 31
1920.
$6,617,835
1,476,094
1919.
Jan.
-
1 -Dec. 31
1918.
1919.
$6,114,762 $23,475,552 $22,656,381
1,536,350
5,057,750
5,166,624
REPORT.—Report for 1917 in V. 106. p. 2007 (1918, Y. 108,
'
1918.
1917.
1916.
„
p.
1061).
1915.
Railroad revenue..—.$22,656,381 $16,901,206 $15,387,928 $12,536,386
Operating income.
3,011,759
4,518,937
3,390,977
$2,744,788
income<■
355,875
196,522
195,763
229,944
Other
—
Gross corp. income.Interest on bonds
Hire of equipment, Ac..
Div. on first pref
DIv. on second pref—.
$4,715,459
$1,378,300
1,024,505
See text
See text
$3,367,634
$3,586,680
$1,324,566
$1,157,267
1,192,429
871,882
(5)249,895
(5)250,000
(5)549,906 (2 H)275.000
$2,974,732
$1,146,537
1,617,626
(5)256,1
Bal., sur. or def__
(?)
sur .$50,754 sr$l .032.531 but.$5*0,575
Of the 2d pref. dividends here shown in
1917, one ($274,995) was charged
by company against 1916 surplus earnings.
Chairman. O. P. Van Sweringen; Pres., J. J. Bernet; V.-Pres., C. C.
Fir® aassrTreas-L-B- wiiiiam8-<v-m p-m: v★ 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 11917 and for freight service Jan. 17 '18.
JPassenger trains
run thence direct to Penn. RR. station in N. Y.; freight
go_t°. Bay Ridge, Brooklyn, passing by ferry to and from Greenv. 104. p. 1045, 1388; V. 106, p. 396. Of the 1st M. 4H %
($30,000,000 auth.), $24,000,000 have been sold, guaranteed, principal aim
int.. Jointly and severally, by the Pennsylvania RR. and N. Y. N. H. A
Hartford RR. In Nov. 1917 Issued $1,500,000
one-year notes.
Federal
compensation, $850,000 (contract signed).—(Y. 110, p. 970.)
★ NEVV YORK & GREENWOOD LAKE RY.—(See Map of Erie RR.)—
Owns from Croxton Jot., N. J., to Sterling Forest, 42 m„ and branches to
RIngwood, Ao., 8 m.; Watchung Ry., Forest HU1 to Orange, N. J., 4 m.\
total owned, 54 m.
Stock, $100,000; par, $50.
Leased to Erie RR. for
999 Years from May 11896.
Prior lien bonds are guaranteed, prln. and int.;
by Erie.
See V. 63, p. 513; form of guaranty, v. 65, p. 463.
trains
yUle, N. J.
★ NEW YORK & HARLEM RR.—(See Neve York Central Railroad) .—
Owns steam road N. Y. City to Chatham, N. Y„ 136 m.
Also owns street
on Fourth A Madison avenues. N.Y. City. 10 m.
Assets, V. 95, p. 47.
The N. Y. Central RR. owned on Dec. 311918, $5,532,450 common and
$1,141,450 preferred of the $10,000,000 stock,
Y. 94, p. 208. 768; V. 93,
p. 1788,1600,1696; V. 94, p. 1057; V. 98, p. 1157; V. 99. p. 1?49.
The steam road (since partly electrified) was leased
April 1 1873 for 401
years to the N. Y. Cent. A Hudson River RR. Co.; ana 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
railroad
steam road.
Rental—
Dividends.
Steam road—10% per annum
•
Payable—
guaranteed..
.Jan. 5%; July 5%
Street railway—$400,000 yearly—1%
p.a. (see below) - April 2%: Oct. 2%
v
These last dividends were not paid in 1919. the N. Y. Railways Co.
having defaulted on the street railway rental.
By order of Judge Julius
M. Mayer in Jan. 1920, the street
railway line was returned to the com¬
pany as of Jan. 31 1920
V. 108, p. 79; V. 109, p. 1273; V. 110, p. 360.
★ NEW YORK LACKAWANNA & WESTERN RY.—Blnghamton to Buf¬
falo and Internal. Bridge and branches, 214 m., of which the main
line, 213
88 miles.
-
On April 1 1917 began operating N. Y. Connecting RR. (which see
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.
•took was aoqulred 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. 65. p. 1427,
This company and the New York Central each own $2,352,052 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.
Owns greater part of stook of Central New England Ry. (whloh see) and
guarantees $13,427,000 gen 4s.
V. 92, p* 1179,1375.1436; V. 93, p. 866.
Ownspractioally all the stook of the N.Y. Westchester A Boston. 177 th
St., N. Y. 0., and Mt. Vernon, Ao.; total trackage, 74.57 miles, of which
$0.57 held In fee and 24 m. under perpetual trackage rights
See bond of¬
fering. Ac.. V. 93, d. 346. 866; V. 94. p. 1508.1627; V. 95. p. 48, 298. 964.
1040. 1208. 1746; V. loti, p. 643. 1&19.
See "Electrio Railway Section.
MASSACHUSETTS ACT.—An Act of Mass. Legislature duly adopted
by directors on May 8 1917, (1) grants authority to retain possession of
14 subsidiaries, but requires the sale of the Rutland RR. stock within five
the time be extended); (2) makes numerous stipulations as to
hew 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.
SEGREGATION.—The stockholders on Apr. 211914 approved an agree¬
years (unless
ment
which had
been reached with the Govt, for
a
surrender to inde¬
pendent control of certain parte of the system so as to prevent a suit under
(1) The Boston BR. Holding Co. stook own¬
ing 62% of the stock of the Boston A Maine BR. has been transferred to
$ 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.v and, after arrangements have been made
to protect the minority stock of the holding company, they shall sell the
Boston A Maine stock before (as extended) Oct. 1 1919.
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
Rhode Island trolleys were placed In the hands of trustees—five for each
State—and ordered sold by July 11921. V. 99, p. 1452; V. 108, p. 683,1275.
V. 110, p. 1188, 1291.
(3) The majority stock of the Merchants* A Miners' Transportation Co.
held by the New Haven RR., which has been sold.
V. 98. p. 1320. 1390
(4) The minority stock of the Eastern Steamship Corporation, held by
Che New Haven RR. shall be sold by July 11921 (as extended in 1919), and
in the meantime shall be deprived of voting power.
Reorganization plan
In 1916, V. 103, p. 846, 1601.
V. 99, p. 1309; 1454; V. 100. p. 1345.
(5) Whether the Long Island Sound steamboat lines may be retained
will be determined by I.-S. O. Comm.
VJ103, p. 1981; V. 105, p. 2184.
V. 107, p. 906.
(6) The Berkshire trolleys shall be sold by July 11921.
V.108,p.1275.
(7) Tbe stocks of companies owning or controlling street railways in
N. Y. shall be sold by July 11921.
V. 89sv. 1000.1072,1157,1239.1245:
Y. 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,
the anti-trust law as follows:
"
"
-
-
~
-
dissolution suit on
May 18 petitioned the U. S. District Court to extend
the time for the final sale of the stocks of the subsidiary lines until Oct. *22.
—(V. 110, p. 2193.)
Report or inter-State Commerce Commission July 1914, V. 99, p. 270.
Suits against former directors. V. 99. p. 198, 270. 407. 538. 13677 1052:
V. 102, p. 345, 251. 134; V. 103, p. 844; V. 104, p. 1592, 1801; V. 108, p.
683
879 2123.
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.
DIVIDENDS.—
11873-1893.
1894.
1895 to 1912.
1913.
None
10 yearly
9
8
5
since
GOVERNMENT LOAN.—On March 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, taking
as collateral for the advance substantially the same securities which were
then pledged to secure the $43,964,000 of notes that matured
Apr! 115 1918.
The right is reserved to tne Secretary of the Treasury at any time to sell
the collateral, or any part thereof, at such prices as he may determine and
Per
to
cent
1
ag^ly the^roceeds of such sales to the retirement of the notes. V. 106,
The note
026,500.
was
By
reduced by payment on account from $43,964,000 to $43,arrangement with the Secretary of the Treasury and the
an
Par
Amount
Rale
When
Bonds
Value
Outstanding
%
Payable
law York New Haven & Hartford (Concluded)—
Danbury A Norwalk cons M ($100,000 arc 6s) —zo*
Gen mtge Danbury, Conn, to Wilson Pt, Ao.zc*
First ref mtge
V 82, p 210) gold assumed-xc* Ar
Harlem RAPort 1st M gold $15,000,000-Us.xo* Ar
36
1905
12
61
1904
'«»■»«»
*
N Y Air Line 1st M $5,000,000 (assum) —x
Pawtuxet Valley
1885
36
xo* Ar
assumed
1902
1904
1900
5.60
red 105 beg 1917-xc*
do
Bonds
ser
DD
due
.$171,000 s a.—CPc*
ofheadiriQ Proprietary, Ac.,
Lines (V 103, p.
{907
Sectio
n"p.72
1,000
.
mmm-m
YORK NEW
10
1911
1,000
...
See
$ A £
1911
m
"'loo
Text
«•
~
...
1,000
1,000
1,000
1.000
1892
1905
1913
1916
112
50
1,000
1.000
1899
1899
demand note pending
Jan. 15
for rolling stock allocated
1918,
604. Loans and bills payable Dec. 31 1919, $49,309,750.
Compensation.—$17,095,884 yearly during Federal control.
INVEST.—Pledged and unpledged. V. 103. p. 1605; V. 105, p. 1413.
Contingent liabilities, see list V. 103, p. 1604.
107, p.
Jan. l-Mar. 31Jan. 1 -Dec. 31
1920.
1919.
1919.
1918.
$26,321,911 $21,943,870$106,545,119$102,294,211
Net
def.369,291
3,023
14,071,738 14,547,688
Income statements for calendar years: (1) Corporate report:
EARNINGS.—
Gross
1919.
$
1918.
$
17,095,884 N. Y. W. A B.
5,562,533]
Ry., guar..
864,000
864,000
8pringf.Ry.div
135,516
135,516
Gross income.23,735,594 22,658,418 Bond, Ac., int.13,200,080 12,770,835
L's'd road rents 5,854,717
6,020,712 Misc. expenses
554,820
310,278
Misc. rents &
IWar taxes
302,883
84,255
tax accruals.
303,884
307,0611
Boston RR.H.
iTotal deduc's_21.338,134 20,614,892
Co.. guar..
122,235
122,235 Net income... 2,397,460
2,043,525
Stand'd returnl7,250,849
6,484,745
in V. 110, p. 1521, showed:
Fed'l Report 1918.
1919.
operated
1,966
Passenger earnings
$44,774,218
Freight earnings!
49,236,963
Miscellaneous
12,533,939
Gross
1918.
1917.
1916.
1,992
1,995
1,995
$39,379,917 $34,427,801 $31,085,035
50,721,288
40,395,999 38,727,424
12,193,008
10.961,093
10,619,708
earnings......$106,545,120S102.294,212 $85,784,893 $80,432,167
$10,273,265 $11,315,322 $20,480,927 $23,058,358
x
x
7,260,790
7,288,281
Net. after taxes.
Other income
Total net income
$27,741,717 $30,346,639
x
c
corporate
report/! 11,922,584
report above
{ 12,298,713
$10,894,567
12,912,703
1,116,325
984,391
$2,404,095
$5,554,977
The Federal report shows $1,525,598 non-operating income
Increase of $618,548, and deductions for rent for equpiment,
for 1919, an
Interest
Rentals,
bonds, Ac
Ac
on
Separately operated prop
[See
j
(
and
Balance
x
"x"
I
$1,153,447,
joint facility rents, $3,633,747, an In¬
Including $3,633,747, account of item*
prior to Jan. 1 1918, a net income of $10,222,751.
being an increase of $48,573; and
of $285,253, leaving, after
crease
A
do
do
Farm Loan A TrOo, N Y
D June'20-Dec '25 Phila Commercial Trust
A
A
O Apr
1 1951
Treasurer, N Haven,Con
A
O Oct
1 1947
R I Hosp A
Apr
1 1924
4H g J
J July 1 1946
M AM 13 Nov 13 1955
1 1955
J
A
J Jan
J
A
4
J Jan 1920
Tr Co, Pro*
New York A London
A
2%
Apr 12 1920,1% Checks mailed
4 *
4 g
8.630.000
480,000
4
210,000
4
Office, Gr Cent Ter, N Y
MAS June 1 1992
A
D June 1 1955
do
do
J
MAS Sept'20-Mar *28 Bankers Trust Co, N Y
do
do
A
A
O Oct '20-Apr *23
'
•
112
Federal
(2)
4
58.113,983
20.000,000
100
FINANCES.—Effect of wage and rate increases in
REPORT.—For year 1919,
Equitable Trust Oo, N Y
4 to 5
text
3.600.000
675,000
3.387.900
1905
to this
Miles
1,500,000
5,000,000
1.000
1909
Apr.l 1955
$
Second Nat Bk, N Haven
A
196,000
4X
Ry— See those co mpanies
..
Other income.
A
D June 1 1956
MAS Moh 1 1956
MAS Sept'20-Sept '26
M AN15 Nov '20-M'y'28 Commercial Tr Co., Phila
Outstanding Street Railway Bonds Assumed as of Dec. 31 1919.
See page 77. "Elec. Ry. Section").
(All 5 per cents except as shown.
$2,500,000 8ept. *30
*43 Hartf. St. 4s
W. A O.E.4HS $1,992,000 Jan
"
4% debs
165,000 Jan. '30
283,000 Sept. '33
N. H. & Cent—.
Greenw. Tram
320,000 July '31
415,000 Jan. '24
Mer. Horse
63,000 Oct. '37
350,000 Oct. '23 Branford Elec
Norwich St
175,000 July *28
250,000 May *20 Mer.So. AGomp.
Montv. St
400.000 July '56
200.000 Oct. '24 Staff. Sp. St
Hart. M. A Rock.
I
J
6
Outstanding Consolidated Ry. Co. Debentures Assumed (see "Elec. Ry. Sec.").
4% 1904-x$4,255,000
July 1 1954 4% 1906 —x$2,011,000 Jan. 1 1950
*
X972.000 Feb. 11930
4% 1905 - x2.309.000 Jan. 1 1955 3-3H-4%'05
1918.
$
Haven,
4
819.
debentures are convertible Into stock after
1919.
do
Conn
New
2,736,000
1,000
hereafter created, covering
and Springfield, Mass., or
New Haven, Conn., and Providence, R. I.
V. 85, p. 1270,1339.1402,1647
The $700,000 5% debentures for New Haven station are to be secured by
any 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 Oo. had been acquired by the N. Y. N. H. A
H. RR., which had assumed the issue, ana 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. 105, p. 1577, 1689.
The development of the acUacent surplus real estate not used for the
Grand Central Terminal, N. Y., will be financed through the N. Y. Realty
A Terminal Co., whose stock Is equally owned and obligations guaranteed
by N. Y. N. H. A 11 and N. Y. Central.
V. 95. d. 964; V. 101. p. 370.
Equip, notes, V. 106, 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.
Of the $21,390,000 N. Y. Westchester A Boston 1st 4^8, this company
owned $2,190,000 on Dec. 31 1919.
See "Electric Ry. Section."
V.
do
do
J
1923 at par, and are to be secured by any mtge.
the main lines between Woodlawn, N. Y. City,
GENERAL
&
N Haven
do
Aug 1 1955
O Apr 1 1925
MAN Nov '20-Nov '24 Phila Tr S D A Ins Oo
this and other indebtedness of the
Equipment trusts issued to Director-General
company.
See article on page 3.
A
Second Nat Bk,
A
4
ence
xl.340.000
A
6 S
693. 1213, 1323; V. 83. p. 96,
-
F
1 1930
485,000
1,470,000
845,000
Terminal Co. bonds ($7,500,000 thereby.
Sro rata with any other bonds secured authorized), see V. 82, 759. ProviV. 103, p. p. 929, 629.
4% 1905
O Oct
1,660,000
1915
1916
authorized the officers to act in all
questions and matters relative to the use, control and operation of the
property by the Federal Government to authorize a new loan from the
United States Government for rolling stock, not to excede $4,165,000, to
ratify and approve of an equipment trust agreement with Walker D. Hines,
covering allocation of rolling stock at a cost not to exceed $4,813,930, and
the issuance of equipment trust certificates not to exceed the latter amount.
The latter issue has been approved by the Connecticut P. U. Commission.
BONDS.—Harlem River A Portohester Dlv. 4s of 1904, V 85, p. 1143.
Debenture oertfs. of 1906.
V.81, p. 976, 1039,1493; V.84, p. 103, 694.
In Feb
1907 145,000,000 francs ($29,000,000) 4% 15-year debenture*
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 $, and are to be secured by any future mortgage on the main line be¬
tween Woodlawn, N. Y„ and Providence, and also 8pringfield. 236 miles,
The $39,029,900 6%
16,758,000
See text
HAVEN & HARTFORD (Concluded)—
the adoption of a refunding plan for
New Haven RR. to the Government.
The stockholders on April 21 1920
A
1,000
1918
$12,000,000 gold red 110 (see text) — Nxc* Ar
Equip notes
Ser O $30,000 s-a (V 96,p 420 —Baz
Equipment, notes Series "D" due $35,000 s-a
New York & Ottawa—See N Y Central RR.
Bew York Phila A Norfolk—Stock. $4.000.000
First mtge $3,000,000 g (V 68, p 773. 978) -FP.xc*
Income mtge g non-cum regis (V 68, p 978) - — FPx
New York & Putnam—See New York Central RR.
NEW
Lincoln Nat Bank, N Y
MAN May 1 1954
A
N May 1 1954
MAN May 1 1957
Various
1919 to 1956
A
&
O Apr 1921-1929
2.400,000
4,000,000
1604)
Gen M
Director-General this note after maturity is held as a
i'
1.
Second Nat Bk, NewHav
do
do
do
do
July 1 1920
"""l'ooo
New York &
$20,000,000 gold—Ba.xo*Ar
J
O Apr 1 1925
D June 1 1955
1914
Funding notesgu(there are $8,709,000 2-5% not gu
N Y Wes & Bob 1st M $60,000,000 g red 1100 xo*Ar*
New England Navigation Co debentures gold
x
do
do
do
Refunding (first) mtge
A
1914
Holyoke A Westfleld 1st M (V 92. p 322, 795) gu.c*
New
Engl a nd
Boston RR Holding Oo—Boston Term Oo—Central
ose
co mpanl es
New York Connecting RR and Old Colony—See th
1897
51
Providence & Worcester first mortgage currency—
Springfield Ry cos 4% cum pref stock red 105 guar.
Northern—See N Y Cent RK.
Sew York Ontario & Western—Common stock —
&
and
Dividends are Payable
See text
-
—
See text below A "Electric Ry.
Equipment trusts, due $166 ,000 yearly —
--F
do
ser AAdue$48or $49,000s-a.PhPc*
do
ser BB due $123 A $122,000 s-a.CP
de
ser CO due $65,000 s-a _.
CP
A
J
Places Where Interest
Dividend
and Maturity
M
A
160.000
l.OOOAc
1906
t*
4 g
3.777.000
1906
-
.
5
J
A
5 A 6
150,000
350,000
15,000,000
2,500,000
234,000
1,000
(?)
1905
^
1st M
Bds of eleo roads.
1,000 Ac
l.OOOAc
$500,000
'
N H & Northampton ref M $10,000,000 guar p A i_x
Providence Term 1st M $7,500,000 g assum—xo* Ar
Consolidated Ry debentures
Providence Secur Oo debs g gu
$1,000
1,000
1880
36
Debentures
Boston &
Last
Date
Road
first page]
95
Control.
Miles
RAILROAD COMPANIES
Wor abbreviations, Ac., see notes on
Naugatuck first mortgage gold
APrivate
RAILWAY STOCKS AND BONDS
MAT, 1920 ] *gKH5T
'18 MAN30 Nov29 1919 6% Checks mailed
Broad Street Station
J
A
J Jan 1 1939
Checks mailed
MAN Jan 1 1939
2.500,000 12 la
2.600,000
737,000
4s
OFFICERS.—Pres., E. J. Pearson; Y.-P. A Gen. Counsel, E. G. Buckland; V.-P., B. Campbell, A. P. Russell; Sec., Arthur E. Clark; Treas., A. S.
May; Comp., H. S. Palmer.
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
Witt Cuyler, Phila.; Arthur T. 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, Nauga¬
tuck, Conn.; Edw. G. Buckland, Benjamin Campbell and Edward J.
Pearson, New Haven.—(V. 110, p. 871, 970, 1089. 1188. 1290, 1521,
1526, 2076 2193 )
★ NEW YORK ONTARIO & WEST. RY.—Operates
from
jpposite N. Y. City, to Uswego, on Lake Ontario, In all 569
Miles.
Road Owned—
Weehawken,
miles, viz.
Miles.
Road Controlled, Ac.—
Pecksport, Conn, (leased)
4
Ont. Carb. A S. (leased) Cadosla,
N. Y., to Scranton, Pa, Ac..— 73
do
to Delhi
Rome A Clinton (leased)
*13
do
to Ellenvllle, etc
Utlca Clinton A Bing. (leased) —*31
7
Total owned
320 Wharton Valley (owned)
Ellenvllle A Kingston (leased)
23
Trackage(t\\\ 2079) W.Shore RR.
C'nwall to W'ken (V.61.P.425) - 56 Port Jervis Mont. A Summltvllle
•
(owned and leased)
38
See this company.
Oswego to Cornwall, N. Y
branch to New Berlin
272
...
—
22
17
9
RR. acquired $29,160,000
and $2,200 of the $4,000 pref.
V. 95. p. 481,
CONTROL.—In Oct. 1904 N. Y. N. H. A H.
com.
stock at $45 per share
V. 79, p. 2088, 2643; V. 80. p. 1363. 2458;
STOCK —There Is $4,000 old preferred.
V. 81. p. 1044; V. 07. p. 1427.
V. 79. p. 977, 980. 1332.
Compensation.—$2,103,589 yearly 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
Horn 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, ana on Dec. 31 1917 the railway held as first liens 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.
DIVS:
/ '05. '06 to '11. '12. '13. '14-15. '18. 1917.
1918. 1919. 1920.
Oncom%\ 4J4 2% yearly.
0
2 None 1% None Jan2%Augl%Aprl %
BONDS, AG.—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; Y. 78, p. 2012; V. 80. p. 651.
A*
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. l-Mar. 31
Jan. 1 -Dec. 31
EARNINGS.—
1920.
1919.
1919.
1918.
Gross
$2,157,022
$1,986,615 $10,909,515 $10,895,005
920,481
1,105,470
Net
df.417.147 def. 190,899
REPORT.—For 1919 In V. 110, p. 1636:
1916.
1917.
Year ending Dec. 31—
1919.
1918
$8,794,166
$9,164,878
Gross earnings
$10,909,515 $10,895,005
2,326,249
2,228,120
621,908
Net, after taxes
775,523
2,103,589
Standard return
2,103,589
184", 134
272",826
208,591
Other income
379,053
1,145,200
1,145,200
1,194,205
Interest on funded debt.
1,185,115
Federal
MiscelJ.int.and discount
Rentals, Ac
136,968
Exp.applic.topriorperiod
Preferred
14,852
211,733
__
Miscellaneous
dividends
Common dividends
33,294
12,371
207,304
92,727
91,955
73,271
452,230
77,179
301,101
210
210
(2)1,162,144
(1)581,071
210
210
(1 %)581,073
Balance, sur. or def. .sur.$319,397sur .$713,408
Pres., John B. Kerr; Sec.-Treas., Richard D.
def.$184,887 sur.$258,301
Rickard. Office, Grand
110, p. 1643, 2193.)
NEW YORK PHILADELPHIA & NORFOLK RR.—In Dec. 1917 all
but $7,250 of the $2,500,000 stock had accepted the offer made by the
Pennsylvania RR. In 1908 to buy the stock (V. 90, p. 977).
V. 109, p. 1610.
Central Terminal, New York.—(V.
★ NEW YORK & ROCKAWAY BEACH ry.—Owns
Rockaway Park, 10.31 m., with branches, 2.05 m.; total,
Glendale Jet. to
12.36 m.; doubleLeased 50 years from July 1 1904 by
Long Island RR. Co., which owns $972,000 stock, whose endorsement is
printed on 1st M. bonds.
On Jan. 1 1916 $101,000 firsts were own<*I by
L. I. RR., together with the $978,000 incomes.
V. 83, p. 890. Dividends
on stock and incomes, 5% each, paid In 1914, 1915 and
1916; in 1917 to
1919,5% on Incomes, but nil on stock.
Cal. year 1918, rental due, $116,627; other Income, $3,949; deductions, $105,931; bal., sur., $14,645.—
track.
Stock, $1,000,000; par,
(Y. 100, p. 1079;
$100.
V. 102. p. 1540.)
.
★ NEW YORK SHORT LINE RR.—Owns
between Cheltenham and Neshamlny Falls,
a
_
out-off for the Reading Co.
9.38 miles, opened May 1906.
V 79, p.1038.
To be 4-tracked—2 tracks laid at present and on 1.73 miles
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 guarantees the bonds,
principal and interest.—(V. 84, p. 1552; V. 87, p. 1421.)
★ NEW YORK SUSQUEHANNA & WESTERN RR.—(See Erie Map.)
Wilkesbarre A Eastern
65
stock. Miles
Stroudsburg, Pa— 99 Susquehanna Connecting RR....
Owned (in fee) or entire
Jersey City to
(Double track 19 miles.)
Beaver Lake. N. J., to Unlonvtlle.
Other branches............—.
21 Trackage
Total road operated
December 31 1918
STOCK.—Pref., $13,000,000;
com., $13,000,000. of
owned Dec. 31 1916, $25,610,658 com. and pref. —of this,
8
25
4
222
which the Erie
$8,630,000 com.
and $12,936,000 pref. being deposited under its mortgages.
Dividends on
pref., Nov. 1891 to 1892,
yearly; none slnoe.
96
*ContauJt?nt
•
^Confrol.
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rate
When
Last Dividend
IFor abbreviations, Ac., see notes on first pagej
Road
Bonds
Value
Outstanding
%
Payable
and Maturity
1887
$1,000
1,000
1,000
500 Ac
1,000
1,000
1,000
1,000
1,000 Ac
[VOL. 110
RY & Rockaway Beach—1st M
11.000,000 g gu.Ce.c*
Second mtge income bonds non-cumulative —Ce.ir
NY Short Line—1st M $1,600,000 g gn p & i.PeP-kvc*
N Y Suf & West—Midland BR 1st M g ext •lO-Ce.xo*
Paterson ExtenBB 1st Mext In 1910 at 5% s t g-xc0
New York Susq A Western first M ret g
Second M ($1,000,000 gold) 3d M on 72
Ce.zc*
rn.Ce.zo*
General mortgage tor $3,000,000 gold
Ce.zc*
Terminal first mtge for $2,000,000 gold. — Usx.o* Ar
Wllkes-B A E'n 1st M g gu p A1 (V 60. p 481) . G.Z0*
Equipment notes series A due $40,000 seml-ann
do
do
Allied
do
do
11
11
9.38
72
1
127
127
127
"65
x
B due $21,000 semi-arm
1
O due $28,000-127,000 seml-ann guar
1887
1905
1880
1881
1887
1887
1890
1893
1892
1911
1913
1,000
1,000
1,000
1.000
1916
MAS
5 g
$984,000
980,000 Up to 5
4 g
1,500,000
3.488,500
t g
200.000
5 g
3.745,000
447,000
tH
2,552,000
5g
5 g
2,000,000
5 g
3.000,000
4X
120,000
6 g
147,000
357,000
4H 8
Places Where Interest and
Dividends are Payable
Treasurer Penn RR, N Y
Broa. St Station, Phils
Reading Terminal, Phlla
Office, 50 Church Street
Sept 11927
5 in 1919 Sept 1 1927
F
A
A Feb 1 1955
A
O
A
D June 11950
Apr 1 1940
do
do
A
J Jan
1 1937
do
A
A Feb
1 1937
do
do
A
A
Aug 1 1940
MAN May 1 1943
J
A
D June 1 1942
do
do
do
do
do
do
do
F
A
A Aug '20-Aug'21 Commercial Tr Co, Phils
MAN May'20-May*23 Phlla Tr S D A Ins Oo
J
A
J Dec'20to J'ly'26 Phlla Trust Co, Phlla
Companies—
Niagara Junction Ry—First M $650,000 gold.Ba.xc*
Norfolk & Portsmouth Belt Line—First mtge— -FPx
Eliz Riv 1st MggupAisfred lOSjsince'll.GP jco*
.
Norfolk & Carolina—See Atlantic Coast Line RR
Norfolk Southern—Stock $16,000,000 authorized
First mortgage......
—Mo.xo*
First General mortgage gold redeemable at 115—Ux
Suffolk A Carolina First Cons mtge gold red liO xo*
1st & Ret M $35,000,000 red 105 since 1915 Ce.xo* Ar*
Raleigh A Cape Fear 1st M g
Col,xo*
Raleigh A Southport first mort $2,000,000 ...Colx
Aberdeen A Asheboro 1st M $164,000 g-MeBa.xo*
Tbree-yearSecuredNotescalll02ext.at7 %seetext.Ce
Equipment trusts series A due $25,000 seml-ann
Norfolk Terminal—1st M $2,000,000 g gu rei—tLxo*
Norfolk & Western—Common stock $250,000,000.0
Adjust pref(pAd)4% stock non-cum $23,000,000.0
.......
Text
8
4.6
70,000
5
J
A
50
1.600,000
6
A
A
O Apr 11920
175,000
250,000
157.000
I*
F
A
F
A
A Aug 1 1922
A Feb 1 1938
4 g
A
A
O Oct
5g
5g
5g
5g
M
A
N
J
A
J
J
A
J
F
A
A
MAS
J
A
D
1891
1904
1902
1911
1903
1905
1910
1917
1914
1911
1,000
1,000
1.000
650.000
500 Ac hl2835 000
1,000
137,000
1,000
374,000
1.000
164.000
1,000 Ac
1,000,000
200,000
1.000.000
1,000
100 121456500
428
200
Improvement
672
127
1881
1882
1883
1889
22.992,300
7,242,000
1,000
1,000
1,000
1,000
3% 90
West
St,
York
New
Bankers Trust Co, N Y
Fidelity Trust Co, Phlla
Glrard Trust Co,
Phlla
1 1935
Jan
16,000,000
1,655,000
825,000
100
N A W gen (now 1st) M Norf to Bris Ac g —FP.XC
New River Division first mortgage goldL._FP.xc
A extension mortgage gold_FP.xct
Scioto Valley A New Eng 1st M assum gold-Ce.zo*
500 Ac
100
223
223
75
789
32
61
82
Office, 50 Church St, NY
)
1902
1898
1905
D Dec
1 1940
500
1,000
1,000
3
1885
rental) ext 1910--x
Nsw York Texas & Mexico—See Galveston Harrisburg A San Anton 1
4
Newark & Bloom field—Stock, 0% rental
Newport & Cincinnati Bridge—See Louisville & Nash vllle
Passaic & N Y 1st M (999 years
5 g
5 g
5e
J
A
J
7g
A
A
O
5
J
A
J
M
A
N
Q—M
in 1919
Q—F
6 g
MAN
4g
7
2,000,000
5.000,000
5,000.000
6 g
6 g
A
F
4 g
M
A
A
A
O
11914, H % Checks mailed Norf off lot
May 1 1941
Metropol Tr Co, N Y
July 1 1954
Guaranty Trust Co, N Y
International Tr Co, Bait
July 1 1952
Feb 1 1961
Central Un Tr Oo. N Y
Moh 11943
Columbia Trust Co, N Y
June 11965
Columbia Trust Co, N Y.
Jan 1 1940
Mere Tr A S Dep Co, Bait
See text
Central Un Tr Co., N Y
July '20-Jan '24
May 1 1961
Guaranty Trust Co, NY
June191920 1% Office, Philadelphia
Mayl91920 1% Office, Philadelphia
Bankers Trust Co, N Y
May 11931
do
do
Apr 1 1932
A Feb 1 1934
N Nov 1 1989
do
do
do
do
h Further amount pledged, see text.
BONDS.—General 5s
are reserved to retire 2d 4 Ha.
See abstract, V. 52,
84.
The seconds are exchangeable for generals on payment of an assess't.
Terminal bonds, see Issue of Jan. 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.
p.
Equipment notes, 1916. V. 103.
p.
61
Loans and bills pavable Dec.
31 1917, $350,000.
Federal advances in 1918, $200,000.
V. 108, p. 32.
Federal Compensation.—$999,942 yearly during Federal control.
■Mar. 31
-Jan.
-Jan. 1 -Dec. 31EARNINGS
1920.
1919.
1919.
1918.
Gross
$875,049
$1,002,034
$3,915,640
$4,353,419
—
Net
"~
def.279,442
3,765
REPORT
For fiscal year ending Dec. 31:
W Calendar Years1918.
Gross operating revenues.- ..—.—*$4,955,180
134,181
559,350
»
Operating income.Compensation receivable..
....
—
Other income
—
_
Gross Income.
Interest on funded debt
Other deductions...
—.
...
—
—
—
1917.
398,023
999,942
76,769
290",323
249,355
$999,280
820,848
$1,211,441
816,040
276,281
$1,076,710
811,923
39,795
167,750
sidings, 9.16 miles.
Electrically operated since Sept. 1 1913.
V. 97, p.
1837.
Stock, $160,000 com. and $134,500 8% cum. pref. ($5,000 more
pref. in treasury), all owned by Niagara Falls Power Co.
Calendar year 1918, net, $58,873; other income, $527; int. and taxes,
$28,415; bal., sur., $30,985.
Pres., Paul A. Schoellkopf; Sec., Fred'k L.
Lovelace; Treas., W. Paxton Little.
★ NORFOLK & PORTSMOUTH BELT LINE RR.—8ee page 139.
★ NORFOLK SOUTHERN RR.—Operated Dec. 31 1918 907.71 miles;
extending from Norfolk, Va., to Raleigh, Goldsboro and Beaufort and the
Piedmont section, N. C., with branches.
Of this total, the company owns
794.04 miles and leases 108.33 miles (from Goldsboro to Morehead City),
and has trackage rights on 5.34 miles: 44.82 miles Is equipped electrically.
Owns entire cap. stock and bonds of John L. Roper Lumber Co., owniag
over 600,000 acres of timber lands and 200.000 acres of timber
rights. V. 87.
p. 1415. The John L. Roper Co. 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.
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
Deo. 7 1909 per plan V. 87, p. 614. 678.
Inoorp. in Virginia May 2 1910.
Government Compensation.—The Federal contract, signed in Dec. 1919,
fixes the company's annual compensation at $1,280,000.
There have been allocated by the Railroad Administration, which allo¬
cation has been resisted by the company, 200 freight cars at a cost of $3,050
^
_
per car. or a total of
$610,000.
BONDS.—Of the "First & Ref." $35,000,000 bonds, $3,981,000 were
reserved to retire a like amount of underlying bonds.
To Jan. 1 192£
retired by sinking fund, $1,025,000, held for company by Central Union
Trust Co., $2,039,000; held by
public, $12,600,000; as collateral for 3-year
Botes of 1917 pledged, $1,526,000.
V. 107, p. 604.
These bonds are secured by a rirat 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 oapaolty of 150.000,000 ft., board
measure; and
140 miles of standard-gauge logging road, 300 logging
The value of the Roper lumber property has
Sinking fund $100,000 yearly, as long as
pledged, at least one-half for purchase or
been estimated at $12,785,000.
the lumber company bonds are
redemption of bonds of this Issue,
ana the balance'. If any, for construction.
Impts., Ac. V. 93, p. 1534; V. 96, p. 487; V. 97, p. 1204; V. 98. p. 623.
The 3-year notes
of 1917, $1,000,000 auth., are secured by pledge
with trustee of $1,526,000 First & 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
so request in writing not less than 60 days prior to April 1 1921.—V
110,
1089.
Atlantic & North Carolina $325,000 guar, bonds of 1917, see that co«
on or before 1926, $18,200 (Dec. 31 1918).
Equipment trusts $132,250 issued to Director-General for rolling stock
allocated to this company.
See article on page 3.
DIVIDENDS.—In 1911. 2% (quar.): 1912 to Jan. 1914, 2% (Q.-J.V
None since, to Oct. 1916.
V. 98, p. 1000. 1072.
Jan. 1-Dec. 31——
-Jan. 1 -Feb. 29
1Q1Q
1Q1Q
1Q1Q
EARNINGS.—
1920.
Gross
$940,709
$6,591,227
$5,753,642
$1,206,071
Net
def .50.481
99,340
303,681
480,082
REPORT.
~
For year ending Dec. 31 1918 in V. 109, p. 1268.
Calendar
INel (after
Total
Interest,
Balance,
Operating
Taxes).
Income.
Rents, Ac.
Surplus.
,Year—
Revenue.
1918 (908 m.)__$5,753,644
$285,949x11,175,407. $1,126,980
$48,427
1917 (908 m.) — 5.299,914
1,423,467
1,956,673
1,616,989
339,683
1916 (908 m.)— 4,939,172
1.503,243
1,882,102
1,376,590
505,511
1915 (908 m.)— 4,135,347
977,364
1,284,907
1,278,488
6,420
x Includes $1,166,991
(tentative) Federal compensation and $8,416 other
income (net).
I
\
'
OFFICERS.—Marsden J. Perry, Chairman of board; R. H. Swartwout,
Vice-Chairman; Joseph H. Young, Pres.; C. I. Millard and E. D. Kyle,
V.-Pres'ts; M. Manly, Treas., and M. S. Hawkins, Sec,—(V. 110, p. 872,
970, 1089, 2193.)
„
.
Miles.
Graham to Norton
annual railway operating income.—V. 108, p. 379.
ANIAOARA JUNCTION RY.—A terminal and switching road extending
P.
Road Owned—
Norfolk, Va., to Columbus, O—_707
ladford, Va., to Bristol, Tenn—111
loanoke, Va., to Hagerstown-.238
$3,974,431
932,089
from Niagara Falls, N. Y., to Fletcher's Corners, N. Y., 4.86 miles; factory
Equipment trust 6s, Series B. due
★ NORFOLK & WESTERN RY.—(See Map.)—System extends from Nor¬
Va., westward to Columbus and Cincinnati, O., and northward to
Hagerstown, Md., with branches to the various coal fields In Va. and W. Va.
folk,
1916.
$4,151,146
708,957
Balance surplus
$224,993
$10,682
$119,123
♦No compensation was received to Dec. 31 1918.
The amount shown
includes In addition to the $4,935,373 certified by the 1. C. C., $19,807
as additional
compensation because of recent expenditures for additions
and betterments not reflected or fully reflected in the three years average
pars, 25 locomotives, Ac.
★ NORFOLK TERMINAL RY.—Owns a union passenger station
at
Norfolk, Va., with approaches, opened June 1 1912, used by the Vir¬
ginian By., Norfolk A Western Ry. and Norfolk Southern RR., which
own the entire stock and undertake
to
meet all expenses, charges and
interest and principal of bonds.
Bonds authorized March 20 1911, $2,000,000, guaranteed, prin. and int., by the three lessor companies, of
which $1,000,000 have been sold.
Redeemable at 10.5 after Nov. 11925.
V. 92, p. 660, 1109; V. 93. p. 667, 1191.
Pres., N. D. Maher. Roanoke
Va.; Treas., M. Manly, Norfolk, Va.—(V.93,p.667,1191;V.94,p.l596.).
—100
4o. Caro. Junction to
Fries;
'.ynohburg to Durham, N. 0
44
115
Miles.
Roanoke to Winston
122
643
——
Sundry branches
Columbus terminal
4
Trackage
Total
16
operated Jan. 1920
2,186
Portsmouth Junotlon to Cincin¬
nati and Ivorydale—
106 Double track
557
In 1919 took over Va.-Carolina Ry., &c., lines long controlled, owning
about 98 miles of road.
V. 108, p. 879, 974.
ORGANIZATION.—Successor In 1896 of Norfolk & Western RR., Ac.,
foreclosed per plan in V. 62, p. 641.
As of Dec. 31 1919, the Penn. RR.
owned $37,837,200 common and $6,315,000 adjust, pref. and the Penn. Oo.
$5,000,000 pref. and $3,190,500 com. stock. V. 83, p. 502; V. 88, p. 1062;
V. 98, p. 763; V. 95, p. 361, 688.
Boat lines, V. 105, p. 73.
FTOCE.—Provisions of pref. stock were in the Issue of April 1897, p. 4.
On April 10 1919 stockholders authorized an increase in the authorized
common stock to $250,000,000 chiefly in order to
provide for the conver¬
sion feature of proposed new convertible bonds.
V. 108, p 1512. SeebeJow.
DIVS—
J '04. '05. *06.'07.'08.'09. '10.'11.'12-'15 '16 1917-20
□ommon—%\
3
3H Oi
5
4
4)4
5
5H 6 y'ly. 7H
Text
In June 1916 dividend was Increased to 1% % quarterly and an extra of
1% was paid.
1917, Mar., 1 H% and 1% extra; June 1917 to June 1920,
1%% quar.
Adjust, pref. receives 4% p. a. (1% Q.-F. 18).
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,
p. 502; V. 74, p. 151; V. 75, p. 505; V. 77, p. 1785; V. 78, p. 229.
See
abstract, V. 64, p. 376; V. 72, p. 137, 438, 532, 723, 1080; V. 75, p. 505;
V. 79, p. 213; V. 81, p. 212.
The' N. A W.-Pooahontas Joint bonds are secured by about 290,000 acres
if ooal lands owned and held by the Pocahontas Coal A Coke Co., whose
(took Is owned, of which about 50,000 acres have been leased to companies
whose stook Is all owned by the U. S. Steel Corp. and 39,797 td other con¬
cerns, subject to royalties.
They are subject to call at 105 for a sinking
fund of 2)4 cts. per ton mines, V. 106, p. 1239.
V. 73, p. 845, 902; V. 74,
p. 41, 380, 1197; V. 75, p. 502.
These bonds are the joint and several
obligations of the Railway Co. and of the Ooal A Coke Co., but as between
the two companies the debt is to be paid by the latter company.
$4,062,000
\
have been retired.
•
Divisional 1st Lien and Gen. Mtge. 4s of 1904 ($35,000,000) authorized for
future capital requirements are a 1st lien on extensions and branches and
also a lien subject thereto upon properties covered by 1st Consol. M.
V. 78,
1549; V. 79, p. 501, 628, 973, 1642, 1704, 2148; V. 80, p. 1175; V. 82.
510; V. 83, p. 1471; V. 8$. p. 231. 453.
which $25,569,000 were issued 1907-10 (V. 83,
p. 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; V. 90,
p. 772,1425; V. 93, p. 1324,1534; V. 104, p. 1592; V. 106. p. 12$7.
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. 30 1920, $12,937,000 converted.
In treasury, $269,000. V. 94, p. 208,
417; V. 95, p. 687.
The 25-year 4M% convertible bonds of 1913 are convertible Into com¬
mon stock. $ for $, prior to Sept. 1 1923. and thereafter sub. to call at 105
p.
p.
The Oonv.4s of 1907, of
Converted
and Int.
V.
p.
to
Apr. 30 1920, $16,606,000; in treasury, $1,213,000.
p. 666.
Equipment trusts of 1914, V. 98.
96, p. 360, 653, 948; V. 97,
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
April 30 1920, $629,500; in treasury, $522,000.
The 6% secured notes of 1920 are red. as follows:
On Nov. 1 1920 at
101
on May 1 1921 at 101)4; on Nov. 1 1921 at 101)4; on May 1 1922 at
101; on Nov. 1 1922 at 100)4; on May 1 1923 at 100)4; on Nov. 1 1923 at
100)4%.
Secured by pledge of Liberty Loan bonds.
V. 110, p. 1973.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
'
GENERAL YINANCES.—Of the traffic in 1916 66.08% (30,676,505
tons) was coal; average rate per ton per m., 0.425 cts.; train-load, 1,018 tons.
Jan. i-Mar. 31
EARNINGS—
Gross
1920.
_
Net
.1
—
1919.
Jan. 1-Dec. 31
1919.
1918.
$17,877,488 $17,776,725 $76,925,599 $82,004,034
99,572
3,093,492
12,904,313
20,424,736
REPORT.—For 1919 in full in V. 110, p. 1408, 1422.
Years ending Dec. 31—
1919.
1918.
Gross operating revenue
Net operating revenue
—,
Federal compensation
Taxes.
-
Other income..Deductions.—
Preferred dividends
-
—
Common dividends
Balance
l
-
1917.
$76,925,599 $82,004,034 $65,910,242
12,904,314
20,424,737
24,748,739
20,711,875
20,634,142
1,856,097
1,716,000
5,096,922
1.119,445
1,000,159
3,530,239
5,461.442
4,113,775
4,235,919
919,692
919,692
919,677
8.459.373
8.437.410
9.632,620
$5,134,714
$6,447,424
$8,393,840
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100
Miles
first page]
Norfolk Sc. Western Concluded)—
i
N A W First Oonselmtge 162.500,000 g—Ba.xc*&r*
Dlv 1st Ilea A gen M (text) g red 105 beg 1029 ttx
Pocah joist M $20,000,000 g call 105 s f-dP.xa»Ar
Col Con A Term 1st M gold gu (end) ass
Mp.xc*
Convertible bonds gold red text
Qx
do
do
13,300.00# gold red—<1 xc*Ar*
do
do
see text gold red
Q.xc*$tr*
do
do
$17,945,000 g see text G.yc*kr*
Winston-Sal So'b'd lstM$5,000,000 g ra Us.xc'Ar*
Secured gold notes authorized $2,500,000
Gc*
Date
Par
Amaunt
Bonds
Value
Outstanding
%
1,126
1.876
Equip tr Series of 1914 g gu $500,000 s a
re*
Norristown & 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 yra $6,000,000 auth—
Old second M (now 1st) (7s extended In 1896) —kvc
General mortgage extend. In gold in 1903-FP.kvcAr
—kv
Air Line
M($350,000 prior lien) Col xo
Funding loan bonds $409,000 gold
North & South Carolina—See Seaboard
19# 4
1#01
1S92
1910
1902
1.000
1,000
1,000
1,000
1890
1,000
89
1920
1914
.64
88
Northern Alabama—1st
Northern (N H)—Stock 6% rental
-----Northern California Ry—See Southern Pacific RR—
Northern Central—Stock ($27,079,600 auth) (see text)
State of Maryland loan (V 74,p 1197)
of 1874 gold Series E-.xo
"B" (A $2,565,000) _FPx
Nor New Brunsw St Seab—1st M g gu $390,000 auth.
'Northern of New Jersey—Stock guar (see V 69, p $1)
1st M ext at 4 H % till July 1 1927 see text
-c
Gen mtge $1,000,000 g lnt guar by lease—_Usm.xo*
Northern Ohio—1st M g ($15,000 d m) gu d A l.CeJto*
Northern Pacific Ry—Stock $250,000,000 authorized
St Paul A N PgenM land grant assumed.Ceao'Jtr
do
do
registered
x
Wash A Columbia River 1st M gold assumed-F.xo*
a b IncJ. amounts in treasury Dec. 31 1918, viz:
a
First mortgage
Consol General mortgage
Second Gen M Ser "A" A
—
112
83
500 Ao
1,000
1,000
500
100
162
100 Ac
1887
1900
1,000
1,000
1895
100
182
1883
1883
163
1895
182
$5.39 8,500.
OFFICERS.—Chairman, L. E. Johnson; Pres., N. D. Mahr; V.-P.,
T. S. Davant, C. S. Churchill. E. H. Alden; Treas., Joseph
& Asst. Treas., I. W. Booth; Treas., Joseph B. Lacy.
|
Directors.—Victor Morawetz. New York; L. E. Johnson, Roanoke;
Samuel Itea, Phila..and David W. Flickwir, Roanoke, Va.; E. H. Alden,
E. II. Alden, John P. Green and W. W. Atterbury, Phila.; Joseph Wood,
Chi Ids Frick, Pittsburgh; M. C. Kennedy, Ohambersburg, Pa.; N. D,
Mahr.—(V. 110, p. 970, 1089. 1408, 1115, 1422, 1973.)
B. Lacy; Sec.
NORRISTOWN & MAIN LINE CONNECTING RR.—Owns double"
incl. bridge over Schuylkill River at Norristown.
Leased to Phila. & Reading Ry. Jan. 1 1804 for 999 yeare at 4% on
stock and int. en bends.
Reading Co. owns ths $50,090 stock and guaran¬
tees the bonds.—(V. 75, p. 1148.)
★
track road. 64 miles long.
Pa.
RR.—Owns from Goldsboro to Charlotte, N.
O.'
222.44 m.; Oaroleigh Jet., N. O., to Garolelgh Mills, 1.90 m.; total, 224.34
Leased from Jan. 1 1896 to the Southern Ry. for 99 years at $266,-
miles.
000 (6)4% on stook) per year till Deo. 31 1901 and $286,000 (equal to 7%
onstook) balance of lease; also taxes.
V. 63, p. 301.
State of North Caro
Una 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 branch, 21.50 m.; Doylestown branoh,
10.09 m.; total first track, 88.12 m.; total track, lad. 24, 3d and 4th track
Aid sidings, 278.40 m.
Leased for 999 years fross May. 1 1879 te Phila.
A Reading RR. at 8% on stock, and least assumed In 1896 by Phila. &
Steading Ry.
Pres., Charles E. Ingersoll.—(V. 18, p. 668; V. 103, p. 2429.)
★ NORTH EAST PENNSYLVANIA RR.—Owns road from Glenslde to
New Hope, Pa., 25.64 miles; 2d track, 1,99 m«; total tracks, 33.05 miles.
Cap. stock, $400,000, of which $318,950 owned by Reading Co.; par $50.
The $400,000 1st Mtge. 5s due April 1 1920 were extended to April 1 1930.
branches,
by
112.50 miles.
In April 1899 a majority of stook and bonds purchased
the Southern Ry.
V. 68. p. 824, 873.
See also V. 69, p. 391.
Stock 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- 1-Mar. 31
Jan. 1 -Dec. 31
EARNINGS—
1920.'
1919.
1919.
1918.
'gross
$385,641
$325,187
$1,079,558
108,614
def.2,875
115,041
Pres., Fairfax Harrison, Richmond, Va.—(V. 69. p. 28.)
Net
$1,285,494
390,466
★ NORTHERN (N. H.) RR.—Owns Concord, N. H., to White River Jot.,
Vt„ 70 m.; branoh to Bristol, N. H., 13 m.; total. 83 m.
Subsidiary lines,
Peterborough & Hillsborough RR., 19 in
Lease to Boston & Lowell for 99 years from Jan. 1 1800 was assigned te
Bos. & Me.; rental now 6%, payable in gold.
Until July 1897 1% extra
Was paid regularly from contingent fund.
Also In 1894, Jan., 5% extra
In 1896, 2%; in 1897, 5%; in 1904. )4% extra.—(V. 106, p. 924.)
Cenoord & Claremont RR., 71 m.;
★
NORTHERN CENTRAL RY —Owns Baltimore,
Md., to Sunbury, Pa..
Leases of
136 miles, aU double track; branch, 8 miles; total,144 miles.
Shamoktn Valley & Pottsvlll* RR. and Klmir* A WflUamspert
RR. were
assumed by Ptnn. RR. In 1914.
The stockholders on Nov. 2 1910
for 999 years from
receive a stock dlv.
voted to lease road to Pennsylvania RR,
Jan. 1 1911, the holders of the $19,342,550 stook to
of 40%; also 10% In oash from treasury assets and a
1911.
1914.
99. p. 343, 49; V. 91, p. 1768; V. 92, p. 527, 1109, 1179, 1243, 156693, p. 45, 286; V. 96, p. 572; V. 102, p. 2342.
State of Maryland 1st M.
guaranty of 8% on all the stock during the lease, retroactive to Jan. 1
V. 91, p. 154, 337, 464, 871, 1026.
The lease went into effect in July
V.
V.
of 1855.
V. 102, p. 1060, 1250.
assets held wnre
A Pottsv. stock,
$619,650; Union RR. stock, $1,225,000 (the bal. of $876,000 being held by
Phila., Bait. A Wash.), &c.
Also Southern Pacific Co.. $1,848,700 (ex¬
changed in July 1913 for Bait. A Ohio stock.
STOCK.—Penn. RR. on Dec. 31 1918 owned $13,058,050 of $27,079,600
outstanding stock.
The auth. issue was Increased la Nov. 1910 from
$20,000,000 to $27,079,600.
A 40% stock dlv. ($7,737,000) was paid Aug.
5 1914.
V. 91. p. 1630; V. 98, p. 1695; V. 99, p.
538.
2h.
*88. *89. '90. *91.
'92. '93. '94-'00. '01-'14.Sinc« under Lease.
7
8
8
7
8
8 7 yrly. 8 yrly.*
8 yearly.
1907, 12)4% paid In stock ($2,149,169).
V. 83. p. 471.
AI»n 10% extra in cash and 40% !n stock under lease In Aug. 1914 and 28%
extra In cash representing 8% on 40% stock dividend for 2)4 years from
Jan. 1 1911 to July 1 191$, during which lease was held up.
V. 99, p. 343.
Percent
•Also Jan.
to increase the funded
of Consolidated Gen.
to liquidate indebtedness
is understood, to $5,000,V. 108, p. 172.
Bonds, Ac.—The shareholders voted Feb. 5 1919
to the extent of $8,216,000 by the issuance
debt
Mortgage, or other bonds or obligations, in order
to Penn. RR. Co. for improvements amounting, it
000 Jan. 1 1919 and for further similar outlays.
REPORT.—For 1918, Income
(rental from lease of road),
$2,526,357;
Int., &c., charges, $359,989; dividends (8%), $2,166,172; surplus, $196.
Pres., Samuel Rea; Treas., Henry Tatnall.—(V. 107, p. 2376; V. 108, p.
172, 579, 974.)
NORTHERN NEW BRUNSWICK &
SEABOARD RY.—Iron mines of
Bathurst, New Brunswick, to NipisiIntercolonial, 16.9 miles. Not operating in 1918, but Int.
paid to July 1 1919.
Bonds auth., $390,000, at $15,000 per mile, guar, by
Province of New Brunswick and Canada Iron Corp.—(V. 107, p. 1482.)
Canada Iron Foundries, Ltd., near
qult Junction, on
★ NORTHERN RR. OF NEW JERSEY.—Owns from Croxton. N. J., to
Sparkill, N. Y., 21 m.; leases Sparkill to Nyaok, 5 m.
Leased to the Erie
RR. from June 1 1899 for the term of Its corporate existence, for interest
on bonds, 4% on $1,000,000 stook, payable quarterly, taxes, and all cor¬
porate expenses.
The $650,000 1st M. 6% bonds, maturing July 1 1917,
S Sept 1 1932
4HK 14
4c
8 Sept 1
do
do
M
&
8 Sept 1
do
do
J Jan
6 g
4 g
J
6 g
M
&
N
4H I
F
A
A
J
4c
do
do
Metropolitan Tr Co, N Y
Bankers
Trust Go. N Y
1 1922
do
do
1938
1929
July 1 1960
May 1 1924
Aug '20-Aug *24
Sept 1 1952
Feb 1920 3)4%
United States Tr Co, N V
4
Guaranty Trust Co, N Y
Commercial Tr Go, Phila
Reading Terminal, Phil*
Burlington, N C
F
A
A
Reading Terminal. Phila
A
&
O April 1 1930
May 25 '20 2% Office, 240 S 3d St, Phila
Q—F
do
do
MAN May 1 1936
3.3g
J
MAS
7*
5g
8
J
5
do
do
A
J Jan 1 1953
MAN Nov 1 1928
4 g
Reading Terminal, Phila
Treas* offIce, Washington
1 1920 1)4 50 Congress St, Boston
J July 1 1928
A
A
Apr
Q—J
5
1
J
were
J
A
A
4)4
.nS
until
1
NAm.NY.Mon.AL
do
do
do
J Jan
O Oct
May 1 1920
F
A
A Feb 11923
Feb 1 1923
Q—F
J
A
J July 1 1935
July
Bk Br
1% 50 Church St, New York
Q—F
4 g
do
do
1 1926
1 1940
June 1920
J July 1 1927
1 2000
1 1945
A
J
A
4)4
extended
A
C3h*™ielyE
In 1919
248,000.000,.
J Jan
J Jan
A
J
4 v
3.563,000
297,000
1,000,000
654,000
154,000
2.500,000
do
Chase Nat'l Bank, N Y
A Co, N Y
J P Morgan A Co. N Y
1H J
P Morgan
do
do
Office 34 Nassau St, N Y
1927, with 4)4%
int.
V. 104, p. 2553.—
(V. 104. p. 2553.)
71. p. 1067, V. 100, d. 643.
NORTHERN RY. COSTA RICA.—See V
★ NORTHERN OHIO RY.—Owns Akron to Delphos,
leased for 999 years to Lake Erie & Western RR.,
Was
O., 162 miles.
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. 66, p. 337.)
★ NORTHERN
PACIFIC
RY.—(See
Maps.)— Operates
one
of the
leading lines to the Pacific, having Its eastern terminal at St. Paul, Minn.,
and Duluth, Minn, (the head of Lake navigation). 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.
Miles.
Main Line—
Ashland,
Wis.,
to Portland,
Ore. Unci. 5 m. terminals) ..2,171
Brainerd and Staples to St
Miles.
Leased to Others—■
To other
86
companies..
To Province
of Manitoba
Spokane branch.
—
355
18
.. —
180
Paul
581
Other ilnes
Tot.(lncl. 187 m. trackage) Ac.7,212
Controlled Properties—
A Intern. (V. 77. p.
2.932
Minn.
3,634
Total main line
Various branches
451)
Other companies
5 miles trackage
(operated directly)
6,566
Total, lncl.
Total system Jan 1
Second track
179
34
1919.-—7,414
827
branches, aggregating 354 m., were leased for 999 years
from May 31 1901 to the Provincial Government and sub-let by the latter to
the Canadian Northern Ry. at a rental of $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 & 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
ewns majority of tbe 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
Jam.'18 began running its own trains Into Vancouver, B.C. V. 106,p. 190.
In 1912 the Midland Ry. of Manitoba, formed In the Joint Interest of the
oompany and the Great Northern, obtained traokage rights from the Cana¬
dian Northern Ry. between Emerson, Man., and Winnipeg, 68 miles, for
20 years, with provision for 999 years.
V. 95. p. 298,1129; V. 97, P. 1038.
The Manitoba
Sept. 1 1896 succeeded to the
of the Northern Pacific RR,,
plan In V. 62, p. 550.
HISTORY.—Tbls Wisconsin company on
railroads, land grant and other property
foreclosed in July 1890 and reorganized per
The original Northern Paclflo Company was chartered
1864; 450 miles to Bismarck were foreclosed in 1875.
/1905. 1906. 1907. 1908. 1909.
DIVIDENDS,
O* common
•Also Deo
.
by Congress July 2
1910 to May 1920.
Q-F)
1238;.
<%)—1 7
7
7
7
7
7 yrly. (1M%
1908, 11.26% from surplus of N. W. Impt. Co. V. 87, p.
BONDS.—The Refunding and Improvement
Mortgage of 1914 covers
6.271 miles of read, en 847 of which it is a first Han. 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.
(bearing interest at r»*es to
SECURITIES OWNED.—On Jan. 1 1919 among the
Elmlra A Lake Ont. stock (all), $1,500,000; Sham. Val.
DIVS.—
D June 1 1932
A
1,000
4,426.000'/
3,316,000 t
1,000
1,000 b2,620,000
b 2.480, 000.
A. C. Needles,
★ NORTHERN ALABAMA RY.—Sheffield to Parrlsh, Ala., and
A
U
do
do
J July 1
1944
Deo 1 1941
D
A
J Jan 151920 4% Treasurer's Office, Balto
27.077,150 8 In 1919 J
do
do
6
Q—J27 Irredeemable
1,500,000
do
do
A
O Apr 1 1925
4 )4 g A
1 757,000
60
144
~2i
A
J
3,068.400,6 In 1919
100
1855
1885
144
144 '76-'82
1910
16.9
J
1.650.000
1,000
1896
A
4,000.000
400,000
5.523,050
1,500,000
4.500,000
408,000
1898
—
A
J
250,000
50
1866
1873
J
4.500,699
100
22$
25.6
88
67
do
do
1 1996
A
4 K
4 g
285.999
94,999
534,990
16,793,500
6.000.990
2,500,000
1,000 A*
1,000 Ac
1.000Jcc
1,000 Ac
Payable
are
4 g
5 g
599
1##7
1912
1913
1919
Dividends
and Maturity
O Oct
A
Where Interest and
Places
Last Dividend
Payable
4 g
4 f
$100 460 $40,400,500
1.000Jto 23.009.000
1.090 15.938,990
1896
[Vol. 110
Control.
When
Rate
Road
RAILROAD COMPANIES
\For abbreviations, Ac., see notes on
★ NORTH CAROLINA
BONDS
RAILWAY STOCKS AND
Contract.
When the amount of bonds issued thereunder
be fixed) reaches 8500.000.000, further issues
80% of the cost ef new property placed under the mtge.
Bends of any aeries may be made redeemable before maturity or convertible
at the election of the holders into capital stock on terms and dates to be
fixed.
Of the bonds, 8421,492.500 are reserved to retire, $ for $, prior
bends (Including Ner. Pac.-Great Nor. joint bonds,) at or before maturity.
In 1914 820,000.000 Series A 4 )4s were sold, callable as a whole at 110 and
tot. no and after July 1 1919.
V. 99, p. 120. 271; V. 105, p. 2366.
Loans and bills payable as of Dec. 31 1918, $4,900,000.
most be limited to
lien and general lien mortgages of 1896 were In
1912-1919. 1072; see V. 99. p. 49.
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, $130,000,009; issued
$121,650,000
Originally reserved, but no longer Issuable
593,000
Issued, but purchased and canceled...—
...
10,242.500
Reserved to retire St. Paul A N. P. bonds .
—.
7.757,000
For new oonitruotlen, betterments, equipment, Ac., not ex¬
ceeding $1,500,000 per annum $25.000.000
All Issued.
Of Gen. Lien bonds, $130,000,000 wero reserved to retire Prior Lien 4s.
The St. Paul A Duluth Division mortgage secures $20,000,000 purchase
money bonds on the former St. Paul A Duluth, of which $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
A Duluth are being sold and proceeds applied to purchase of the bonds at
aot aver 108 and int., or, if not purchasable at tnat price, then to bettermeat*. Improvements or additions to tbe mortgaged premises or equipment
therefor.
To Dec. 311918 $10,419,000 had been Issued but $2,339,000 had
been thus purchased and canceled. V. 71, p. 1167; V. 72, p. 339.
Abstracts of new prior
V. 93. p.
Prior Hen 4s
LAND GRANT.—The land grant was 12,800 acres to the mile In the
States of Minnesota and Oregon and 25,600 acres per mile In the (then)
totormedlateterritorles.
Unsold on Deo. 31 1918. 4,734,072 acres, viz.:
339,102
Mina., No. Dak. & Wise—
17,512 Idaho
1,486,369
Wyoming
...
68,673 Washington
146,339
Montana
2.676,675 Oregon
—
Sales for year
1918, 162,315 acres, for $1,989,261.
*8KTRAILWAY STOCKS AND BONDS
MAY, 1920.]
Mile
RAILROAD COMPANIES
{For abbreviations, &c., see notes
on
Date
Par
Amount
Rate
When
Last Dividend
Bonds
Road
first page]
Value
Outstanding
%
Payable
and Maturity
Northern Pacific Ry.—(Concluded)—
Mortgages of Northern Pacific Railway—
Prior lien M $ 129,537,000 gold land gr-Ba.xo*&r See z
General lien M $ 190,000,000 gold land gr.F.xc*&r See z
226
St Paul-Duluth Dlv pur money M $20,000,000 G.xo*
1896
1896
1900
1901
0 B & Q coll tr M g (red at 105) H share
S.o'&r*
do
do
registered
r*
Ref and Impt M gold ($, £. fr) red text-„G.c»*r*
1901
Bonds Underlying St Paul <fc Duluth Div Mtge
St Paul & Duluth first mortgage assumed
»o*
F
Northwestern RR of South Caro—First cons M__x
Northw Term Ry—1st M gold call at 102H — Ba.c*
Norwich & Worcester—Preferred stock 8% rental —
Bonds (not mtge) Int guar under lease, cur —_zc&r
Norwood & St L— 1st M $300,000 g red 110 1912_.Eqx
Ocean Shore RR—1st M $5.000.000
Ociila South RR—1st M $500,000 g red 110_xc*ftr
Ogden Mine PP—S'ook (5% rental Central of N J)__
Ogdensburg & Lane Champlain Ry—See Rutland RR
Ohio Conn Ry—1st M $2,000,000 g gu (text) — --Fxo*
Ohio & Kentucky—1st M gold sk fd oall at 110-Ce.zo*
,
lOO&c
1,000
1.000
500 &c
1,000
2,572.000
1898
1907
1914
1906
76
1,000
100
1,000
"20
1902
500
52
1914
do
do
J. P. Morgan,
do
July 1 1921
July 1 1921
N Y
do
&
&
N
May 15 '21 to'30 J. P. Morgan & Co.,N.Y.
5
F
&
A
Aug 11931
4 g
J
&
D June 1 1968
g
4 g
6 g
J July 1 2047
J
New
J Jan
&
York. &c.
J P Morgan & Co, N Y
do
do
Mar 1 1948
Q—M
$1,000
&c
A
5 g
28,125,000
360,000
2,217.000
3,000.000
1.200,000
1.000
1897
J P Morgan, New York
do
do
11997
12047
1 1996
J
924.000
&c
"72
Dividends are Payable
Bankers Trust Oo, N Y
11933
Wlnslow,Lanier& Oo.N Y
35,000,000
1,000
1,000
J
&
Q—J
Places Where Interest and'
M
7
1,000 000
X827.000
100
507
40
J
Jan
D Deo
&
4 g
1.000,000
1883
J
AS
4,500,000
Jan
Q—J
Q—F
2*
3 g
20.000.000
1,000
1881
1898
1898
167
130
30
Cal Northw 1st M g guar by S F & Nor Pac sk fd _z
Ist&RefM $35,000,000 g red 110 aft 10 yrs_F.xc*&r
Debenture certificates
&c 110.815,500
&c #60,000,000
1,000
8.080.000
l.OOO&cl 107,613.500
See "a'
1.000&OJ
500
1914
238
Consol mtge assumed $5,000,000 gold.-Mp.zc*
Washington Central 1st M g $15,000 p m
xCol
Northern Pac Term Co—First M gold red 110 >_F.xc*
Northern Railway (Cal)—See Southern Pacific RR
Northern Securities—See Industrials.
Northwestern Pacific—Stock ($35,000.000)
500
1920
8.271
Ba c*
Equip, trust cert, due $450,000 yearly
101
M
&
8c
San Francisco
O Apr 1 1928
S Moh 1 1957
A
11
I"
O
&
5g
58
101.000
Safe Dep & Tr Co. Balto
Aug 1 1964
Jan 1918 coupon not paid
J
&
J July 1 1926
Apr 1 1920 2% Mech Nat Bk, Worcester
Q—J
M
&
S Moh 1 1927
Company's office, Boston
A
O Apr 1 1932
&
Watertown(NY) Nat Bk
J
Ohath B & Sav Tr Oo.Sav
1 1934
J Jan
&J15 Jan 15'20 2^% 253 Drexel Bldg, Phila
M
&
nil Oct 1919
100
$416,000
450,000
1,000
1,000
1.000
1,887,000
250,000
175,000
10
9
1903
26
1896
1914
z
&
4 g
J
5 g
2-3-4-5
&
Ry—See Bait 8c Ohio RR.
Ohio River—See Baltimore & Ohio
Oklahoma Central—See Atch Topeka & Santa Fe
Old Colony—Stock 7% guaranteed by rental
o*
Penn RR Oo. New York
S Sept 11943
J July 1 1926
&
J
D
1
Broadway,
New York
July 1 1926
Ohio & Little Kanawha
100
7
22,294.000
1888
1.000
4
4,000,000
zr
1894
1,000 &o
3,000,000
$3,000,000) gold_zo*&r
1895
1,000 &o
5,598,000
zo&r
1902
1.000 &o
Bonds not mortgage
1,000,000
zo&r
3H
Burlin gton & Q uincy).
a This is only one-half the outstanding issue (see Oh fcago
An adc tion
z 5.130 m lies, fnclu
x After deducting $1,026,000 owned by Northern Pa cific R
Bonds not mortgage
Bonds not mortgage (auth
Bonds not mortgage
j«
FINANCES.—In 1904 Nor. Pac. and Gt. Northern had acquired $107,-
612,600 of the $110,839,100 stock of Chlo. Burl. & Quincy RR. In exchange
for their Joint 20-year 4% gold bonds secured by the deposit of the stock in
trust, on the basis of $200 In bonds for each $100 stook.
See olrcular,
V. 72, p. 871, 1034, 1135: V. 73. p. 294. 610; V. 85. p. 601/
Federal advances to Dec. 31 1918, $5,500,000. V. 108, p. 269.
V. 107, p.
COMPENSATION.—Under Govt, contract, $30,130,069.
1837, 2476; V. 109,
p.
380.
Jan.
EARNINGS.—
Jan.
1919.
1 -Mar. 31
1919.
1920.
1 -Dec. 31
1918.
.$25,821,402 $22,202,066$100,739,3531102,908,259
4,705,032
4,913,702
24,559,639
31,391,957
Gross
Net
REPORT.—Report year 1919 in V. 110. p. 1636:
Corporate income account under Federal control:
$
income
Ry. tax accr'ls
(war taxes).
and
8,132,615 Miscellaneous
9,565,594
charges
51,332
389.152
553.250
...
1,657,365 Depreciation
of equipt
51,332
1,518,089
L'sed road rents
Miscell.
Bond., &c.,
$
Interest —.12,332,346 12,243,558
30,089,692
$
compensa'n.30,089,692
Other
1918.
1919.
1918.
1919.
Government
2,203,696
2,198,638
17,360,000
x5,476,737 x2,769,334
Dividends -.17,360,000
rants
10,598 Balance
10,026
taxes..
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.
Federal Income Account in 1919 (Compared with
1919.
Co.'s Figures in 1918 & 1917.)
1918.
1917.
Total operating revenues
$100,739,354
Maintenance of way and structures $16,223,655
Maintenance of equipment
17,610,480
Traffic expenses
765,309
28,274,463
13,305,808
Transportation expenses
General, &c.t expenses
Net
$24,559,639
7,506,589
revenue
Tax accruals and uncollectibles
__
$102,908,259 $88,225,726
$14,226,882 $10,782,178
11,245,120
1,233,124
28,531,413
1,506,026
16,716,958
779,683
37,501,967
2,290,812
$31,391,956 $34,927,865
6,505,328
6.031,441
Apr
Q—J
1 1920
1H Treasurer's
Office,
J
&.
J Jan
11938
do
&
A Feb
1 1924
do
do
J
&
D Deo
11 1925
do
do
J
&
J July 1 1932
do
Bost
do
F
do
al $1,271 ,000 was held In treasury Dec. 31 1918«
ding 40
miles not
opera tea:
spurs.
261 miles.
A NORTHWESTERN RR. OF SOUTH CAROLINA.—(See Map Atlantic
Coast Line.)—Wilson Mill, S. C.t via Sumter to Camden, 62 5 miles; branch,
Millard to St. Paul, 3.5 m.; M&nnvllle to Rose Hill, 9.5 m.; trackage, 5 m.j
total, 81 miles.
Stock, $100,000.
Dividend, 6%. paid yearly Dec. 1900
to 1902; 1903 to 1905, 6%; 1907 and 1909. 4%; 1910. 5%: 1911 and 1912,
6%; 1914, 4%: 1915, 5%; 1916, 6%; 1917,16%.
or the outstanding $360,000 first consol. mtgs. bonds, $285,000 are 4s and $75,000 5s.
Year 1918,
gross, $150,755; not. $44,454; other income, $2,677; int., rentals, &c„ $28.326; bal., su*., $18,805.
★ NORTHWESTERN TERMINAL RY.—Owns terminals ooverlng 36 acres
right of way in that olty, and 100 acres of freight
terminals at Utah Junction, 3 miles north of Denver.
Leased for 50 years
from Jan. 1 1914 to Denver 3c Salt Lake RR., which owns the $3,000,000
at Denver find 102 acres of
stock, rental covering interest on bonds, operating expenses and taxes.
V. 98, p. 913.
Operated by U. S. RR. Administration as part of Denver
8c Salt Lake RR. Oo. by virtue of lease but receive no Federal compensa¬
tion.
Interest was defaulted Jan.
1 1918 and subsequently,
and
in
Jan. 1919
of
a
protective committee with S. M. Perry of Denver, as Chair¬
called for the deposit of the bonds with the International Trust Oo.
or Bankers Trust
Oo. of N. Y.
V. 108, n. 269. 379, 1061.
man,
Denver
V. 106, p. 86.
A suit for the foreclosure of the First Mtge. 5%
filed by the Bankers Trust Co., N. Y., trustee, in Jan. 1920.
bonds was
V. 110, p.
503.
($3,000,000 auth. issue), see V. 89, p. 994; V. 90, p.
Acting Gen. Mgr., W. F. Thiehoffi—(V. 110, p. 562.)
Bonds
562.
★ NORWICH ft WORCESTER RR.—Owns from Groton, Conn., to Wornester, Mass., 71.04 miles. Leased to New England RR. for 99 years from
Feb. 11869 (now N. Y. N. H. & H.): rental 8% on pref. stk.—V.106, p.924
A NORWOOD ft ST. LAWRENCE RR.—Norwood to Waddlngton, N. Y„
20 miles, lnol. extension, 13 m., opened July 1909.
Stosk, $100,000; par
Bonds are subject to call at 110 since April 1 1912.
V. 95.
1542.
1918, gross, $120,979; net, after taxes, $35,371; interest, &c.,
$28,797; divs., $3,750; bal., sur., $2,823.
1917, gross, $94,867; net, after
taxes,_$29,749.
Co-operative contract signed on Sept. 29 1919. Pres.,
John Weekes; Treas., H. Smith; Sec., J. A. Remington.—(V. 95, p. 1542;
V. 109, p. 1366.)
of •hares, $100.
p.
A OCEAN SHORE RR., CALIFORNIA.—Owns partly constructed road,
aouble-traok, to extend from San Franolsoo, Cal., to Santa Cruz, 80 miles,
Francisco and 15 H north from Santa Crus
of whleh 38 miles south from San
$17,053,050 $24,886,629 $28,896,425
Cr.606,261
Cr.2,779,743 Cr.3,974,634
See above.
17,360,000
See above.
30,089,692
30,089,692
Operating income
Non operating items (net)
Dividends (7% per annum)
Compensation under contract
def.$12,809.779xdef.$l ,228,429 $12,142,686
Net income
x
After
received
on
crediting
$543,831
(net), representing payments
prior to Federal control.
made
and
account of transactions
& Treas.;
V.
562, 765, 970,
110, p.
562.
N. Y. office, 34 Nassau St.—V. 110, p.
1636, 2076.
★ NORTHERN PACIFIC TERMINAL CO. OF OREGON.—Owns termlxato
the Willamette River, Ore., at Portland, East Portland and Albin*
on
comprising 270 acres land, 40 m
track, dock frontage 7.904 feet.
LEASE.—Leased for 50 years from Jan. 1 1883 Jointly and severally *e
Northern Pacific, Oregon Ry. & Navigation and Oregon & California, wivk
f:uaranteed new Nor. Pao. Interest, sinking fund and taxes* leases assume*
1899 by rental to pay and Oregon RR
& Nav.
V. 69. p. 230.
n
STOCK.—Stock ($3,000,000) owned by said three companies (40% bi
Oregon Ry. & Nav. Co., 40% by Nor. Pac. and 20% by Oregon & Cal.
RR.), 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 mtge. is for $5,000,000; in April 1919 $4,323,000
been issued, of which $1,812,000 retired or called for sinking fund at 110
interest—(V. 105, p. 294; V. 106, p. 500; V. 107, p.
had
and
697.)
"NORTHWESTERN."—See Chicago 8c North Western Ry.
RTHWESTERN PACIFIC
RR.—(.See Map Atch. Top. A 3. F.)operates a system extending from Point Tiburon and Sausallto, Cal
(whence ferry to San Franolsoo, 6miles), northerly to Eureka, with
branches, 507 miles In all.
Inoorp. Jan. 8 1907 In the Interest of Southeri
Pac. and Atch. Top. & San. Fe, which each owns $17,500,000 stock.
V
95. p. Ill; V. 96, p. 1489.
A N
BONDS.—Cal. N. W. 5s s. f. $5,000 yearly calls at 110 and int.
Of the 1st St Refund. 4^s of 1907 ($35,000,000 auth.). $28,125,000 were
outstanding Apr, 1 '20, $26,029,000 being owned by Sou. Pac.; the mtM. re¬
served $6,676,000 to retire a like amount of underlying bonds, $5,000,009
for Impts. and equip, and $13,324,000 for new construction. Incl. lias fross
Shively to Willits and from Wendling to connection with main line at
Healdsburg; s. f. $10,000 yearly; bonds drawn at 110.
V. 84. p. 221.
694; V. 85. p. 222; V\ 96. p. 1773; V. 98. p. 1316.
FEDERAL
tension
of the
CONTRACT.—Signed in Jan. 1920, fixed the annua1
The company refused the six months ex¬
at $1,338,000.
Govt,
guaranty.
In Jan. 1919 the California RR. Comm.
authorized the company to issue
$3,941,000 First & Ref. Mtge. 4)4% bonds, the proceeds to be used to
purchase and retire $3,571,000 bonds of the old San Francisco & North
Pacific Ry. which matured Jan. 1.
V. 108, p. 172 , 379.
Equipment trusts issued to Director-General for rolling stock allocated
See article on page 3.
Jan. 1-Mar. 31
Jan. 1 -Dec. 31—-p
EARNINGS.—
1920.
1919.
1919.
1918
Gross
$1,538,730
$1,128,910 $6,682,459
$5,702,397
Net.
156,265
def.55,267
1,432,187
1,728,629
—V. 110, p. 465, 1089.
to this company.
_
^
—
m
.
AOCILLA SOUTHERN RR.—Owns Perry to Nashville.
1918 was placed in hands of M. W. Garbutt, J. A. J.
In
J. F. Gray, as receivers,
Stock outstanding Jan.
Ga.. 110.4 m.
Henderson and
_
1 1918, $265,000.
For year ending June 30
1916. woss, $131,452; net. $2,038; 1914-15, gross, $93,491; net, $18,018.—
(Y. 107,r p. 182.)
★ OGDEN MINE RR.—Owns Nolan's Point (Lake Hopatoong) to Sparta
(or Ogden Mine), N. J., 10 miles.
Leased for 999 years from Jan. 1 1882
N J. for 5% per ann. on stook and $500 yrly. for org. exp.
to Central RR. of
RY.—Owns bridge over Ohio River near Pitts¬
burgh, Pa., and approaches, 9.11 miles.
Leased from Oot. 20 1890 for no
definite time to Pitts. Cincln. Chlo.
& St. Louis; rental, net earnings.
Stook Increased In Deo. 1902 from $1,000,000 to $2,000,000, In $50 shares.
★ OHIO CONNECTING
Bonds we guaranteed as to principal and Interest by endorsement by Penn¬
sylvania Company, whloh on Jan. 1 1919 owned the entire stook.
Form of
guaranty, V. 81, p. 669. Divs. in 1906. 5%; 1907 to 1914. 7%; 1915 to 1918,
NORTHERN SECURITIES CO.—See Industrials.
compensation
which $3,724,375 outstanding Mar.
-
OFFICERS.—Howard Elliott, Pres.; Chas. Donnelly, Executive V.~P.:
Chas. W. Bunn, V.-P. & Gen. Counsel; Thos. Cooper, V.-P.; E. A. Gay,
Sec.
completed, leaving gap of 26 >4 miles.
Incorporated Oot. 9 1911 as suc¬
of Jkritooy <3o. foreclosed Jan. 17
1911.
Stock, $5,000,000, of
1920, given to bondholders of old com¬
pany in exchange for their securities.
V. 96, p. 1229.
Assessments: 1912,
$386,905: 1913. $96,423; 1914, $192,607; 1915, $114,381; 1915-T6, $114,298; 1916-17, $114,299; 1919-20, $93,106.
Stockholders in 1914 authorized
$5,000,000 bonds.
Y. 97. p. 1505; V. 98, p. 236, 611; V. 99, p. 748.
EARNINGS.—
Gross.
Op.Def. Olh.Inc. Deduct.
Loss.
1919
$171,303
$84,155
$2,872
$6,724
$88,007
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; V.-P. & Gen. Mgr.. John G. Sutton; Sec. & Treas..
J. W. Oroeby. Offiee. 52 11th St., San Fran., Cal.—(Y. 106
p .1461.
It
cessor
incl., 5% yearly.
For year 1918 Govt, compensation, $231,573; other inc.,
$5,416; total, $236,989; balance, surplus, after fixed and other eharges and
6% ($i00,000) on capital stock, $985.—(V. 82, p. 752; V. 107, p. 1385.)
Ry. at Jackson;
1916. V. 103, p,
1st M. bonds are
guaranteed by Kentucky Block Cannel Coal Co.
Year ended Dec. 31 1919:
gross, $122,530:
net, def., $13,782.
Year ended Dec. 31 1918: Gross,
A OHIO &
KENTUCKY RY .—Owns from Lex. & East.
Ky., to Cannel City, Ky.
Receiver was discharged in
2238.
Common stock, $200,000: pref. stock. $ 100.000.
$115,135; net,
def., $21,651.
OKLAHOMA
CENTRAL
RR.—See Atchison Topeka 3c Santa
Fe.
Boston to Provlnoetown,
101 miles
In June 1907 a
& Providence (leased line).
LEASE.—In 1893 leased to New York New Haven & Hartford for 99
years.
Of the stock, $9,113,200 was on June 30 191o held by the lessee.
The lease provides for dividends 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.)
★ OREOON ft CALIFORNIA RR.—(See Map Southern Pac.)—Portland,
Ore., to California State line, 367 m.; Albany Jet to Lebanon. 11 m. Port¬
land to Corvallis. 101 m.; Lebanon to Woodburn, 49 m.: Portland. Ore., to
Airlee. Ore.. 74 m.; Mohawk Jet. to Wendling. 16 m.; Salem to Geer. 7 m.:
Spring/laid Jet. to Tallaaan, and branches, 54 m.; total owned, 680 m.
Laasad lines. all or mostly owned by Southern Pacific Co.. 516 m.; trackage,
19 mhas; total. Dec. 31 1918. 1..215 miles.—V. 103. ji. 1217.
LEASE.
Jje. sou to Southern Pacific Co. for 34 years from Aug. 1
1893, the 1'fflfv
*uar nteeing int. on the bonds and the lessor receiving any
net profit an*, being oharged with any deficit after payment of charges.
Betterments arc payable by lessor. South, Pao. ovpns all but $47,000 of
★ OLD COLONY
RR. (MASS.)—Owns road from
Newport, R. I., &o.. 533 miles; leases
bill was passed permitting purchase of Boston
Mass
.
*8885.
RAILWAY STOCKS AND BONDS
*S3£r*
102
Miles
Date
Par
Amount
Rate
When
Road
Bonds
Value
Outstanding
%
Payable
Oregon & Cal—1st M z drawn at 100 (rap & LUn.sc*
Oregon Pacific & East Ry—1st M $500,000 gold—
Oregon Short Line RR—First mtge (Ry Co) g .—zo*
Utah & North 1st M ext 1908 (V 86. p 1410) __.zc*
680
1887
Cons M gu $15,000 p m s f not drawn g -.AB.zo*
Cons 1st M $30,600,000 g (1st M on 400 m) -.Qjro*
Ref M $100,000,0(X) g gu red (text)
Eq.xo*Ar
488
Income bonds Series A 5% non-cumulative
do
- Series B non-cumulative
20
1882
488
1878
1886
1897
1904
1897
1897
1910
1.178
OBz
Qz
First A! Cons M $150,000,000 g red text__Ce.xo* Ar*
Oregon-Wash RR & Nav—Com stU $50,000,000 authOre RR A Nav cons(now 1st) $24,312,800 g —N .xc*
1.135
IstARef M $175,000,000 ggu p A.J red 105-F.xo'Ar* Text
35
Ofwego & Syracuse—Stock 9% guaranteed D L A W
35
Consolidated mortgage (guaranteed by DL&Wj..
35
Construction mortgage guar (lor $1,000,000) —F *
Overton County RR—See Tennessee Kentucky A N orther
Ozark & Cher Cent—See St Louis A San Francisco
Pacific Great Eastern—1st M 4H% guar deb stock
2d charge ranking aft 1st M gu by Gov of B C 1915.
600
Ac
1.000
Ac
Deo
July
July
Oct
J
D Dec
A
do.
N 7
165 Broadway. New York
1922
1933
1920
1946
1 1929
1 1946
1 1940
11960
do
do
do
do
do
do
do
do
do
do
do
do
165 B'way. N
1
New York and Germany
New York and London
Offloe
J
i*
D June 1 1946
1 1961
J Jan
A
J
4 g
A
F A A 20 Feb 20 1920 4H
438,000 See text See text Matured
MAN May 1923
5
668,000
Del Lack A West RR.NY
do
do
do
do
RR
n
£1 Ac
£l Ac
1912
1915
text
see
J
4H
£2,925,000
1920
5-year debontures auth $6,000,000
Pacific A Idaho North Ry—1st M g s f 1% yly„. G.zo
2d
M
$3,000,000 gold
T.l
Ce.o
Paducah & III—1st M gu $7,000,000 red._UC.c»Ar*
Pan-Araer (Mex-Guat)—See Nat. Rys. of Mexico.
July
July
July
Sept
1,320,400'
1.000
1.000
1883
A
A
A
50,000.000
23.380.000
50
1876
A
Southern Paclflo
1934
J
£ z39.857.305
A
Feb
J
See text
1,000
$
Jan
A
1927
July
A
F
a25,000
100
1896
1911
A
J
(7) J
Dividends are Payable
and Maturity
J
$11,000 $17,606,000
330,000
(b)
1,000 14,931,000
4,991.000)
1,000
1,744,000
1,000
500 Ao
12,328.000
1,000 Ac 45,000.000
500 &o
a272,500
1914
611
Where Interest and
Places
Dividend
Last
RAILROAD OOMPANIE3
IFor abbreviations, Ac., see notes on first page]
[Vol.110.
54"
2,450,000
1,027.000
A
J
J
A
M
Brown,8 A Oo.LonAVict.
15 July 15 1942
15 July 15 1942
J Jan 6 1925
Nov 1 1949
Feb 1 1937
A J
J
A
70
1899
"l'odo
76
1907
1915
1.000
950.000
14
1,000Ac
5.000,000
4H g J
A
53
1912
1,000
600,OfX
630,000
J
A
A
J July 1920
F
A
do
do
J July 1 1932
J
5 g
5 g
paid
Nov 1914 last
paid
Not regularly
New York and Chicago
July 1 1955
Paragouid Southeastern—See St Louis Southw Ry
Paris & Alt Pleasant—lstM g red 105
FCxc*
Paterson & Hudson Riv—Stock 8% rent N Y L BA W
14
60
14
Paterson & Ramapo—Stock (rental guaranty)
a Amounts held by public,
b Series "A," $1,000; Series
Is owned by U. P, RR.
50
•B." $ 5,000.
$19,000,o0() itook,
12.000,000 of whioJ: is 7% pref. V. 72, P. 287. Due
Pac. Dec. 31 1918, 15.633.438.
The U. S. Supreme Court on Dec. 9
1915, In the Govt, suit involving 2,300,000 acres in Western Oregon, per¬
manently enjoined the sale of lands except to actual settlers In quantities
not greater than 100 acres and at over $2 50 per acre.
V
104. p. 1703:
the
First Nat Bk, N Y A
Chic
4% Paterson, N J
A
J July 1 1919 1%
298.000 5 in 1919 J
xOf which $4,613,805 sterling at $4.85 per £;
do
an
additional $31,744,000
An abstract of Oregon RR. A Nav. Consol. M. was in
V. 63, p. 928
So.
V. 102. p. 07
154. 1061, and (So. Pac.) 1347; V. 106,
p.
Jan.
EARNINGS.—
Gross
Net
929
—
(V. 107,
BONDS.—The Southern
printed
on ol
Pacific guaranty of principal and
;h of the 5% bonds.
EARNIN »8.—For cal.
year
AOREOON PACIFIC & EASTERN RY —Cottage Grove to Disstoo,
20 m.; branches. 4 m.
Successor Jan, 1914 to Oregon A Southeastern RR
foreclosed. V. 90, p. 1297. In Oct. 191/ J. 13 Chambers of Cottage Grove,
Ore., was reported to have purchased control
V. 105, p. 1618. Stock
auth., $700,000 com. and $300,000 pref.; outst .ndtag, $200,250 common,
par, $10. Bonds, Union Trust Co
San Pra ckco, trustee. See table
above. V. 98, p. 237.
For year ending Jan. 31 1919, total oper. revenues, $46,043; oper. ex¬
penses. $32,573; Int., $17,461; bal.. def.. $27,213.
Pres. A Gen. Mgr.,
J. H. Chambers; Sec. A Aud., D. S. Minogue.—(V. 105. p. 1618.)
,
,SHORT
LINE
—(See
Map
Union
Pacific.)—Owns
Granger, Wyo., to Huntington. Ore., 541 miles,
.th lines also to Ogden*
Silver Bow, Mont., Yellow Stone, Wyoming.
cal owned Dec. 31 1918,
2,190 miles, less 08 miles leased to other compa
s; leased fro o Ore .-Wash.
RR. A Nav., 207 m.; trackage. 19 miles; total operated Dec. 31 1918.
2,348 miles.
Owns a half Interest In San Pedro L. A. A 8. L.. which see below.
V. 79;
p. 1705; Y. 76. p. 919, 1356; V. 77. p. 38.
HISTORY.—Suocessor Maroh 16 1897 of the Oregon Short Line A Utah
Northern Ry., foreclosed per plan in V. 62, p. 504, 505.
Controlled by Un.
Pac., which holds nearly entire capital stock.
V. 84, p. 52, 572, 932.
.••ADVANCES" AND "STANDARD RETURN." Ac.—See page 5.
CAPITAL STOCK.—Stock,
In
the U.
P.
treasury
BONDS.—First Consols, $22,029,000, were reserved to retire old bonds
Series A incomes, non-oumulatlve 5 per cents, have received; In Sept.
1897, 4%; Sept, yrly. since, full 5%, at N.Y. offloe or Old Col. Tr., Boston.
The Ref. gold guar. 4s (collat. trust) of 1904 (authorized Issue, $100,000.
00'J) are subject to call at 102HThe bonds, of which $45,000,000 have
been sold, are secured by pledge of $8,700,000 Illinois Central stock,
$4,018,700 Chicago A North Western Ry. pref. stock, $1,845,000 Chicago
A Salt Lake 4s
Ry. pref. stock, $27,557,000 San Pedro Los Angeles
and $20,000,000 N. Y. O. A H. R. RR. stock.
The collat¬
eral may be replaced by other of equal value.
See abstract, V. 80, p. 2403;
V. 79. p. 2086; V. 80. p. 1913; V. 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 directors or executive comm. may fix.
None sold to Dec. 1918.
but
$41,487,000 were then owned by Union Pacific RR. and $3,587,000
in the treasury. V. 91. p. 1512; V. 92, p. 1179.
were
Jan. 1 -Mar. 31
EARNINGS.—
Gross
1920.
$11,193,341
4,373,090
„
Net
Jan.
1919.
1919.
1 -Dec.
31
1918.
$8,253,419 $38,260,580 $34,136,853
1,990,369
13,162,215
12,527,366
—(Y. 100, p. 1231.
★ OREGON-WASHINGTON
RAILROAD
&
NAVIGATION CO.— See
Map Union Pacific.)—Owns from East Portland, Ore., to Huntington,
Ore., 388 miles; Umatilla, Ore., to Spokane, Wash., 183 m.; Attalia 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.;
leased from Des Chute3 RR., 95 m.; owned jointly with Chic. Milw. A
St. Paul Ry., &c.,
74
m.;
trackage rights, 207 miles; total operated Dec. 31
to
Also over 187 miles of water lines.
1918 (excl. 71 miles leased to outside companies and 207 miles leased
Oregon Short Line RR., 2,090 miles.
$28,367,603 $26,264,956
5,629.940 '
6,533,478
★ OSWEGO A SYRACUSE RR.—Owns from Oswego, N. Y., to Syracuse,
3. Y., 35 miles.
Leased in 1809 during length of charter and renewals
thereof to the Del. Lack. & Western RR. Co. for 9% per year on $1,320,400
and interest on bonds.
The $438,000 7% bonds which matured
Mch. 1 1907 are held In treasury of D. L. A W.—(V. 106, p. 601.)
•took
OZARK VALLEY RR.—Road foreclosed and Junked in 1918.
RY.—Incorporated in British Columbia
PACIFIC GREAT EASTERN
early in 1912 to build from Vancouver, B. C., to the Grand Trunk Pacific
at Fort George, 480 miles.
Completed from Squamish Dock to Chasm,
180 miles.
In Oct. 1918 the Province of British Columbia, as owner of the property,
proceeding with construction and intended to build not only to Prince
George, but also the contemplated extension Into the Peace River District.
V. 107, p. 1580.
was
Under
the settlement,
which received royal assent April 23
Province of B. C. had in Oct.
1918
1918, the
acquired the entire share capital stock
of the railway ($25,000,000), the Pacific Great Eastern
the Pacific Great Eastern Development Co., and had
also
on
their obligations.
rom
Equipment Co. and
exercised its option
last-named, the promoters being released
There has been no change in the bonded debt, the
liable for both principal and interest on bonds.
the lands and assets of the
Province
V. 107, p.
being
fully
1580, 1101, 182; V. 106, p. 929, 2123.
In Oct. 1917 the total securities
,
guaranteed by the Province
applying on the main line, amounted to $16,800,000, secured
of B. O.,
by a first
the line, and $3,360,000 secured by a second charge, making a
total of $20,160,000, of which $14,234,805 (£2,925,000) have been issued.
The balance, $5,925,195, had been pledged to secure a loan of $4,800,000.
—(V. 110, p. 562.)
charge
on
In Jan. 1920 issued $2,450,000 5% 5-year debentures, the proceeds to be
used for the completion of road from rail head to Ft. George.
V. 110,
p.
562.
A PACIFIC & IDAHO NORTHERN RY.—Owns Weiser to New Mea¬
dows, Idaho, 90 miles.
In June 1918 the receiver appointed in 1915 was
as discharged.
V. 106, p. 2560.
V. 101, p. 846.
Stock, $2,929,-'
800; par, $100.
Bonds, 1st A 2d Ms., see table above.
Loans and bills
payable Dec. 31 1917, $663,911.
For year ending Dec. 31 1916, gross,
$146,943; net, after taxes, $29,316;other Income,$1.209;int., charges -Ac.,
$144,693; bal., def., $114,168.
For 1917, gross, $160,111; net, after taxes,
$42,989.
Pres., E. M. Heigho; Treas., James B. Ford; Sec., John D. Carberry; Asst. Treas., F. D. Stover; Gen. Mgr., H. E. Dunn.
Office, New
Meadows, Idaho.
N. Y. office, 1790 Broadway.—(V. 106, p. 2560.)
★ PADUCAH & ILLINOIS RR.—Line from Metropolis, 111., to Paducah,
14 miles, including the double-track steel bridge over the Ohio River
Ky.,
was
completed Dec. 31 1917.
over
"STANDARD RETURN." Ac.—See page 5.
BONDS.—The 1st and Ref. 50-year gold 4s
Owned jointly by Nashv. Chatt. A St. L. and
and Central
Ch. Bur. & Q., which use same as part of a route from Northern
Rotate(overthe Gulf, and unconditionally Stock auth., $7,000,000 pref. and
to $120,000 yearly) on bonds. guarantee prin., int. and sinking
md
$10,000
common, outstanding. $10,000, all, except directors' shares, owned
by the guarantors and by them pledged with the mortgage trustee.
V. 99,
p. 009.
The bonds ($7,000,000 auth.) are redeemable for sinking fund be¬
ginning 1921 at 102HSee offering V. 102. p. 67, 251; V. 103,p. 2342; V,
104, p. 664.—(V. 107, p. 1580.)
A PARIS & MT. PLEASANT RR.—Owns Paris, Tex., to Mt. Pleasant,
Short line contract with U. S. Govt, was signed in Jan. 1919.
53 miles.
V,
Stock authorized,$75,000.
108, p. 379.
Of
the
1st
gold 6s
($2,000,000 auth. issue),
$600,000 have been sold
against the present property i53 miles), Including terminals, roiling stock,
Ac., the remainder being reserved for future construction.
Redeemable
since July
1
1915 at 105 and tat.
Staking fund 5% of gross earnings
beginning Jan. 1 1915, to be Invested In income-producing securities or ap¬
plied to redemption of bonds.
V. 94,
p.
1509.
Receivership.—R. W. Wortham of Paris, Tex., was appointed receiver by
Judge Ben H. Denton in March 1920 on the petition or T. D. Wilson and
S. G. Norris of Detroit, alleging that the road was in a rundown condition
and there were 350 cars of freight awaiting transportation and delivery to
consignees on which demurrage and other charges were accumulating.
Receiver certificates, it was
In Oregon Nov. 23 1910 and on Deo. 23
by purchase the Oregon RR. & Na . Co., North Coast Ry..
and affiliated lines controlled oy the Union Pacta j.
V. 91, p. 1447, 1512.
1630, 1768.
Stook auth., $50,000,000; $49,998,500 owned by Ore.Sh.Line,
ORGANIZATION.—Inoorp.
1910 took
$6,257,711
790.441
$8,415,752
2,050.009
182, 697, 1288.)
reported
$100,000,000, all
V. 91, p. 871; V. 93. p. 1387. 1069.
Milwaukee A St. Paul
1919.
Interest Is
See V. 63, p. 754.
1917, gross oper. rev., $11,500,725; net,
after taxes,
' ,969,529; non-oper. income, $1,333,970: rental from Southern
Pacific Co.
r lease of the property. $1,338,970; bal. loss to Southern
Pacific Co.
$5,000.
From the rental ($1,333,970) was payable Interest
on funded debt, $887,000, and on non-negotiable debt to affiliated com¬
panies, $336,048. and other deductions, the balance surplus carried to
profit and loss being $47,272.
Year ending June 30 1916, gross, $8,034,753; net, $1,368,250; other in¬
come, $202,015; Interest, Ac., $1,916,516; bal., def.. $364,995.—(V. 104,
p. 1703; V. 100, p. 929.'
★ OREGON
p.
Jan. 1 -Dec. 31
1919.
1918.
1 -Mar. 31
1920.
money to put
stated,
would be issued immediately to raise
the road in condition.
For year ended Dec.
31 1918, gross,$165,753; net,
interest, $37,527; hire of equip., $18,879; bal., def.,
bills payable as of Dec. 31
918, $26,11 .
For 1917,
after taxes, $50,275.
Pres.. R. F. Scott, Treas., R.
Paris, Texas.—(V. 110, p. 1089.)
after taxes, $24,285:
$32,121.
Loans and
gross, $154,019; net,
J. Murphy.
Office,
($175,000,000 auth. Issue)
HUDSON
x. J. (south to Bergen Junction), to Paterson. N. J., 14 miles; single-track
Leased In perpetuity (at $48,400 per year for road, $5,000 for rent of lot
Sterling bonds are exchangeable for dollar bonds at $4 85
on payment of $15 per £100 bond.
See V. 102. p. 801. 2255The bonds are a first lien on about 767 miles of road owned and a lien,
subject to $23,380,000 Ore. RR. & Nav. 4s, on 1,135 additional miles, on
70 miles jointly owned and 139 miles of trackage. See V. 92, p. 1500, 1566;
$23,380,000 are raserved to refund the Ore. RR. 4s; in Jan. 1919, $39,857.305 were held by public; $31,744,000 were held by Union Pac. RR., $253,000
were 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, pT699; V. 100, p. 715.
&
Ac.) to Erie RR., forming part of main line.
from
Jersey City
★ PATERSON
90 days* notice.
A i. by U. P.
Series A" are dollar t mds. Series "B" sterling
bonds, each redeemable (but not part of either) a> 105 an any int. day on
RIVER.—Owns
Marlon,
are guar. p.
Erie has built
a
second track
★ PATERSON & RAMAPO RR.—Owns from Paterson, N. J., to New York
State line. 14 miles; aingle-track; part of main line of Erie RR., to whiob
leased Sept. 1852 daring legal existence, at $26,500, and which has built *
•econd track.
Dividends have been paid at various rates.
In 1906-07.
82%; In 1907-08 and 1908-09, 8%; in 1909-10. 0%: 1910-11 and 1911-12.
1%; 1913-14. 4%; 1914-15. 8%; 1915-16. 6%: 1916-17, 6%; 1917-18. 5%.
1918-19, 5%.—(V. 99, p. 1833.)
Mat, 1920.) *g£™
RAILWAY STOCKS AND BONDS
Miles
see notes on
first page]
Date
Par
Amount
Rate
When
Last Dividend
Places Where Interest and
Road
RAILROAD COMPANIES
iFor abbreviations, &c„
Bonds
Value
Outstanding
%
Payable
and Maturity
Dividends are Payable
$100
Pemigewasset Valley RR—Stock (rental guaranty)-Pennsylvania RR—Stock auth $600,000,000——Tr
Consolidated
(Gold ooup s f 1% not dr ..._kv.c*
1100,000,000 Sterl (s fin 1900) not dr_kv.c*r&r*
(now
1st)
do
stamped pay'le in $.kv.cftr
M of 1873
Sterling
kv.c*ftr*
secures
all
do stamped payable In $kv.c*ftr*
equally
Gold dollar bonds
kv.c*&r*
1463
1463
do
Secured
5% bonds Series B
yc*ftr*
bonds......
—c*ftr*
500 &C
...
Bonds of Cos. Merged in Pennsylvania RR.—
Pbiladelpbla ft Erie mortgage (now first) goId._k.c
do
do
($5,263,000 are 5s)
k.r
Sunb Haz & Wllk first Series A drawn at 100
1
ft
D June 11948
Penn Co for Ins, fto.Phila
Fidelity Tr Co. Phila
g J
ft
D June 11965
Office. Phila & N
ft
D Dec 1 1968
O April 1 1930
1,000
1869
1896
1888
1892
1,000
100 &o
100 &o
1,000
1,000
1,000
1.000
1,000
1,000
1,000
500 40
1.000
500 ftc
1.000
1878
p.
1146
★ PENNSYLVANIA RR.—(See Maps.)—The system, as shown on thr
adjoining maps, extends from New York City westerly, via Philadelphia,
to
Pittsburgh, Erie, Cleveland, Toltdo, Chioago and Burlington on the
north and to Washington, Cincinnati, Louisville and St. Louis on the south
The total system on Jan. 1 1919 aggregated. 11,943 miles.
On Jan. 1 1919
the lines included in the company's results aggregated 7,116 mUes, an in¬
crease of 2,575 miles over 1917, due to the taking over of the
operation of the
Western lines, which prior to Jan. 1 1918 had been operated by the Penn¬
sylvania Company (wholly controlled), a lease of the Phila. Bait, ft Wash¬
ington, the purchase of Cumberland Valley RR., &c. V. 108, p. 2330.
Aggregating on Dec. 311918 7,116 Miles Included in Penn. RR. Results
Western Lines.
Miles
Hies.
Pittsb. Ft. W. & Chicago—*470.79
Philadelphia to Pittsburgh, Pa.,
with branches
___1,994 Erie ft Pittsburgh
*82.97
.*205.32
Erie, Pa., to Sunbury, &c
591 Cleveland ft Pittsburgh
Other lines, branches ft spurs.
243 Pitts. Youngs. & Ashta. Ry-*137.57
Controlled by stock or othervHse—
Lines oper. by lease or contract—
Phila. Bait, ft Washington698 Toledo Col. & Ohio River—*345.14
Northern Central Ry.*
144 Pitts. Ohio Val. ft Cine—.
15.14
United New Jersey RR.*
335.20
161 Cleve. Akron ft Cincinnati
Main Line and Branches—
-
.
Philadelphia ft Trenton RR .*__
Western New York ft Penn.*,.
Connecting Railway*..
Belvidere Delaware RR.*-—-
....
Other lines
Total East, lines In
South Chicago & Southern-.
Branches W.N.Y. ft Pa. Ry.
36 Youngstown ft Ravenna
82 Manufacturers' Railway
846 Other raUeage (leased, ftc.)..
26
541
statistics.5,362
23.05
51.52
2.28
3.02
82.26
1,754.26
Total Western lines.
Lines Separately Operated
...
Miles.
340.66 Cin. Leb. ft Northern-.-.-.
163.65 Grand Rapids & Indiana...
394.56 Cin. Rich, ft Fort Wayne...
...
217.49
West Jersey ft Seash. RR.*_
Cumberland Valley RR
Long Island*
Other companies
...
Terre Haute ft Peoria RR..
Lorain Ashland & Southern.
Pitts. Cin. Chic, ft St. L...*2,077.39
Waynesburg & Washington.
Ohio River & Western
Central
Indiana
Pitts. Chartiers & Yough
Miles.
76.17
476.69
*85.76
145.07
66.49
9.65
28.16 Wheeling Terminal Ry.....
110.47
Controlled Jointly.
Miles.
Miles.'
*117.74 Toledo Peoria ft Western— *230.82
264.31
*19.66 Trackage, &c
•See this company.
ORGANIZATION. LEASES, &c.—The charter of the Pennsylvania RR
was dated April 13 1846.
As to agreement In 1917 to take over the prop¬
erties and assume the obligations of the Pennsylvania Company, see that
company's statement below, and V. 106, p. 1031.
In Nov. 1917 it was agreed that, effective Jan. 1 1918, or such later dates
as might be determined, the leases of railroad property held by the Penn¬
sylvania should be reassigned to the Penna. RR.. and the lines west
of 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 ft Chicago Ry.. Cleveland &
Pittsburgh RR,, Erie ft Pittsburgh RR., and Pitts. Youngs, ft Ashtah.
Ry. V, 107, p. 83, 284: V. 106, p. 86, 1031: V. 105, p. 2094, 2184.
During
1918 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 to be Operated as a Unit.—It was announced in Feb. 1920 that,
effective Mar, 1 1920, the system would be operated as a unit instead of
being sub-divided 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.
In May 1920 announced that the West Jersey & Seashore RR. and the
N. Y. Phila. & Norfolk RR. will hereafter be designated as the Atlantic
Division and the Norfolk Division, respectively.
See V. 110, p. 2193.
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
V. 104, p. 1146; V. 106, p. 1031; V. 107, p. 291.
In April 1918 took title to the Susqhehanna Bloomsbung & Berwick RR.
a 42-mile line. Watsontown to Berwick, Pa., ftc., with $700,000 First Mtw
gold 5% bonds outstanding.
V, 106. p. 2011.
SECURITIES OWNED.—The total book value of these on Jan. 1 1920
was $397,344,251, many of which are pledged to secure Pennsylvania Issues.
Revenue derived from these securities in 1919, $15,145,132.
The securities
include $7,753,800 Sou. Pac. Co. stock, $38,757,700 (common) stock of the
Norfolk ft Western, and $5,312,500 stockgof N, Y. N. H. & H. RR. Co.
also $13,289,400 Liberty Loan 4J£s.
With a view to complete stock control of the Pittsburgh Cincinnati Chi¬
cago ft 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
Co. and to pay for the same, par for par, in new 50-year mtge. bonds of the
latter co. when issued to the Penn. Co., bearing int. at the rate of 5% p. a.,
'Itts. Cin. to be guaranteed by the Penn. RR. V. 110, p. 1188. See also
?rin. ft int. Chic, ft St. L. RR. below.
DIVIDENDS.
Per Cent—...
'93 to '99.
5 yrly.
1900 *05
'06.
6 yrly
In 1893 paid also 2% in scrip.
CAPITAL STOCK.—Stockholders
for
10% in
new
stock ($45,337,750)
110. p. 964.
1906.
6H
of record
at par.
*07 *08 to May29 20.
7
May 5
No*
of
6 yrly. (1/4Q«
1913
J
4 g
1878
...
A
&
4^
PENNSYLVANIA-DETROIT RR.—Incorp. In Michigan Feb. 27 1917
(2)
&
4
7,272,000
with an auth. capital stock of $5,000,000 (par $100), to build for the Penn
BE. Co. a 52-mile road extending from the Ohio-Michigan State line nortb.
[1) East of Pittsburgh and Erie.
4Hg F
1.000 125.000,000
1.000 50.000.000
★ PEtfUEW ASSET VALLEY RR.—Plymouth, N. H*. to Llnooln, N. H.
21.41 miles.
Leased to Boston & Maine for 6% on stock.
Lines
N
5,297.100
1869
Y. 104,
N
&
Y
Office, Phila ft N Y
London, England
Office, Phila ft N Y
1,000
140
264
3 *00-'07
91
1904
102
1891
1905
407
1886
57
1890
87
1853
72
1911
ward through Monroe and Wayne counties into Detroit.
N
&
M
July 1 1945
May 11948
May 11948
May 11948
Aug 11960
July 11921
14.570.000
20,000.000
49.000,000
56
zo&r
$600,000 p & I g -GtiP.vo*
West Penn oonsol mortgage g assumed— PlP.kvo*
Allegheny Valley gen (now 1st) M g. FPl.kv.o*ftr
Junction (Phila) Gen M (now first) g$725,000 ..kv
Pitts Va ft Ch first mtge gold gu p ft i.GP.kvo*ftr
Cambria ft Clearfield 1st M (V.OQ.p. 286) g CP. kvo*
Cambria & Ciearfield Gen M $7,500,000
...kv
Clearfield ft Jefferson first mortgage». GuP.kvo*
Pennsylvania ft N Wgen M $2,500,000. GuP.kve
Harrisb Portsm Mt J & L 1st M ext in 1913_.Gp.kx
Hollldaysburg Bedf 3c Cumb 1st M g gu ass. kxxc*
J
&
$1,000
1,000
1.000
1,000
44
44
Second mortgage Income—.....—
&
£200
288
288
zc
Sunb & Lewis first mtge
•
3H g J
4
M
4 g
M
$1,000
1920
do
gold
F
6
&
A Feb 1920
$541,500
3% Checks mailed
50 499,178,400 6 in 1919
Q—F
May29 '20 IM Office, Phila ft N Y
2.392.000
4 g
ft
M
N May 11943
Treasurer, Phila ft N
£200 12,707.180/
ft
J July 11945
3H g J
London, England
1,000
1893
1895
1895
1463
1463 31908
1463
1908
1463
1908
1463
1915
1881
1908
2834
1915
1918
2834
Q.P.
Gold
|...xc*ftr*
Bonds (PW&B stock as coll) (V 108. p 481)..kv.r
New York Phila & Norfolk stock trust cert
kv
General mortgage gold
GP.yc*ftr*
-
103
4
5,368,000
5
50,000.000
J
A
g
7 g
&
ft
7,928,000
11,143.000 4 g ft
5
316,000
6
1,349,500
n
500.000
4.000.000
19,033,000
582,000
6,000,000
•
529.000
J
ft
g A
Apr
.ft
3J4
415.000
1 000,000
1,021,000
700,000
5
ft
4
ft
1,073,000
4 g
ft
ft
6
ft
do
do
do
Office Phila ft New
Broad St Station,
Office Phila ft New
Broad St Station,
Nov 11943
Jan 11941
Feb 11955
Jan
11927
Jan 1 1930
A
5 8
4 g
do
do
D June 11928
S Moh 11942
ft
do
do
do
May 1 1928
N May 11938
J July 11936
ft
_
Broad St Sta, Ph; ft Lond
Broad St Station, Fhila
O July 1 1920
ft
Y
do
do
N
ft
4 g
4 g
Office. Phila ft N Y
do
do
July 1 1920
ft
ft
4 g
I
11930
do
do
do
do
York
Phila
do
do
July 11943
July 11951
York
PhD a
do
do
BONDS.—Consolidated mortgage of 1873 (see In V. 86, p. 1043, 1101) in
June 1915 covered 993.01 miles of road by a first Hen and by supplement
dated 1913, 409.47 miles by a subsequent lien. V. 100, p. 399. 475. 819.
1169. In 1916 majority of 4% sterling bonds of 1908 were stamped as "$'
bonds. V. 101. p. 2072, 2255; V. 103, p. 321.
The General Mortgage Bonds of 1915 (V. 98. p. 695) are a direct obligation
of the company and are secured by a mortgage on its property subject to
prior liens
amounting to
$165,000,000.
approximately
The prior llena
mature from 1919 to
1960. cannot be increased and a sufficient amount of
bonds authorized by this mortgage is reserved for their retirement.
Data June 1919
Regarding Issuance of General Mortgage Bonds of 1915.
Authorized. Umited to paid up capital stock of the company
outstanding at the time of issue, which is at present...
$499,265,700
Outstanding including $60,000,000 sold in March 1917, and
$745,000 in sinking fund Dec. 31 1919—
125,000,000
do
series B issued in 1919, chiefly for additions and im¬
provements and purchase of Trenton RR
50,000,000
Reserved to retire equal amount of prior Hens
...........
161,605,895
Issuable when and as voted by stockholders..........*.... 162,659,805
Of the Gen. Mtge. 4^s $65,000,000 was sold In May 1915 (V. 100. p.
1593) and $60,000,000 In 1917 (V. 104. p. 13S8: V. 105. p. 1105); $50,000.000 Gen. Mtge. Series B 5s were sold in Dec. 1918.
V. 107, p. 2376.
The 3Ks or Glrard Point Storage Co. became a direct obligation of Penn
RR. on dissolution of 8torage co. in 1917.
V. 105, p. 1310. 1523. 2543.
The 10-year 7% gold bonds due April 1 1930 are secured by deposit of
$50,000,000 Penn. RR. gen. mtge. 6s, series O,1970, and $5,000,000 Phila.
Salt. & Wash, new gen. mtge. 6s. V. 110, p. 1527.
Equipment trusts issued to Director-General for rolling stock allocated
-
—.
...
to this company.
See article on page 3.
GENERAL.—In Feb. 1919 the directors had authority to Increase the
Indebtedness In the sum of $48,000,000. but as this was |not sufficient to
meet the requirements for the enlargement of the Unes, terminals, equip¬
ment, ftc., as carried out by the Federal officers, the stockholders voted
Mar. 11 1919 to approve an increase of indebtedness to the extent of $75,000,000.
The board was thus empowered to issue General Mtge. bonds
or other form of obligations as may seem desirable to the amount of $121,000,000.
It Is not expected that the total amount will be immediately
necessary, but the authorization was desired so that the company might
be in a position to meet its future capital needs promptly and adequately
not only for additions and betterments to roadway, structures, terminals
and
equipment, but also for the refunding of maturing obligations, ftc.
Compare V. 108, p. 966, 480, 269, 1061.
Annual
compensation under Federal operating contract for Penn. RR.
Co. and subsidiaries operated or wholly owned east of Pittsburgh is $53,603,427, the amount, according to Penn. RR. Co., being $51,378,410:
for the lines west of Pittsburgh, $15,154,719.
V. 108, p. 966, 1165.
The bridge from Mott Haven to Long Island, owned by the N. Y. Con¬
necting BR. (see that company), was opened in April 1917. permitting
through passenger trains from the South and West to all points In New
England and facilitating the transfer of freight via South Brooklyn and
ferry, thence to Jersey City, In place of the long ferry service through the
Harlem and East rivers.
See V. 80, p. 608; V. 87, p. 813,1238; V. 88, p.
631; V. 89, p. 666. 919- V. 90, p. 635; V. 93, p. 867; V. 103. p. 407. 2238
V. 106, p. 397, 1031
r
t
0.
Jan. 1 -Mar. 31——
EARNINGS.—t
Gross
Net—
1920.
1919.
$115,867,675 $106,583,596
df10,458,782
3,607,541
^
-
-
-
-
f Lines East and West.
,
.
ANNUAL EARNINGS,—In 1919 operating revenues under Federal
operation were $487,885,014; oper. exp. ft taxes, $469,486,659; net railway
oper. income, $13,821,701.
In 1918 the total oper. revenues were $468,113,646; oper. exp. & taxes, $437,209,403; net railway oper. income,
$24,337,004.
ANNUAL REPORT.—Fiscal year ends Dec. 31.
Annual meeting la
at Philadelphia on second Tuesday in March.
Report for 1919 In
110, p. 964.
This report shows no earnings or operations statistics, but
lives the result to the company on the basis of the compensation accrued
inder Federal control of the property.
ield
7.
Income Statement (Including Western Lines 1919 and 1918 but not
1919.
1918.
Miles of line
1917.
7,323
7,116
4,541
$67,126,464 $65,992,740
-----13,846,458
15,059,282 $15,310,533
-
Federal compensation
Dividend Income
.
-
Income from other securities, acc'ts
and funds
All other corp. income
—
-
-
-----
Total gross income
Deductions from gross income—
Rent for leased road-
War taxes
Separately operated properties-loss
Interest on funded debt
unfunded debt.:
Maintenance of investm't organiz'n
Miscellaneous income charges.
on
8.062,560
6,004.238
3,847,044
3,324,888
1,538,229
950,146
_
:
Miscellaneous tax accruals-
Interest
.
$92,360,370 $88,594,487 $62,148,958
-
Rent for Penna. Co. equipment—
M iscel laneous rents
in 1917.)
...
$21,872,405 $21,282,019
1,113,405
1,113,405
629,252
815,920
154,431
125,826
3,827,649
2,823,945
------
15,718,686
3,675,912
1,006,851
2,339,321
10,805
13,509,569
2,848,042
371,640
776,777
$7,365,605
684,050
64,890
1,166.795
12,707,729
555,774
322,525
$44,523,588 $22,867,368
.-$42,868,097 $44,070,899 $39,281,585
Total deductions from gross inc.-$49,492,271
Net income
—
Disposition of net income—
Sink, and other reserve funds
-$2,416,678
Dividend (6%)
29,950,704
Miscell. appropriations of income.
$2,313,202
29,950,704
$2,187,028
29,951,098
7,143,459
subscribed
shareholders.
$32,367,382 $32,263,906 $39,281,585
V.
Balance transferred to credit of
P.&L.$10,500,717 $11,806,994
......
,
-
401
YAWLIAR
SKCOTS
DNA
SDNOB
.loV[
.011
so
to
o
to
3
>
►<
H
O
O
B
o
w
o
S5
O
CO
o
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★Government
106
APrlvate
RAILWAY STOCKS AND BONDS
Contract.
Miles
Date
Par
Amount
Rale
When
Road
Bonds
Value
Outstanding
%
Pat/able
RR
(Concluded)—
26
Susq Blooms A Berwick—First M g
-FPx
Penn RR real estate purch money gold M-F.xc'&r
Equipment Trusts—
Gold gu p&due$700,U00yearly (V 94, p 1566) _FPx
do
g SI.970,000 yrly (V 96, p 1702) ...FPr
Pennsylvania Company—Bonds gold guar— icvc'&r
Guar tr certs *5.000,000 g gu Pa RR Ser A
kvr
do
10,000,000
do
Ser B QPkvo
do
5,000,000
do
Ser C—kvc*
do
10,000,000
do
SerD GPvkc*
do
10.000,000
do
Ser E.OPkvc*
Gold loan red alter 15 yr» (gu V 83, p. 1229)_GPkvc*
Loan $48,262,548 to be red June 15 1920
GPx
Gold loan (French loan 3 lis coll) callablegu»r_GPc*
Pennsylvania & North Western—See Penn. RR .....
Pen sac Mob & NewOrl—1st M $350,000 e red 105—Fx
Peoria & Bureau
1891
42
1902
1893
1881
1897
1901
1902
1904
1912
1906
1906
1915
1*879
100
338
Ac
Peoria & Pekln Union—First mortgage gold—_Ce.xc
20
1888
1890
1890
1881
1885
500
338
Second
mortgage
gold
— — — —
338
20
—Ce.xc
1907
c
West of Pittsburgh & Erie.
Income Account East and
Calendar
634,00 0;
b $2,
1917.
Years—
1916.
12,103
12,125
12,129
operated
xl915.
A
D Deo
4 g
4 g
Philadelphia
Cred Lyon, Ao, Paris,
Pa RR N Y & Phlla
J A D 15 June 15 1921
J A D 15 June 151921
3
4
5 g
A
A Feb
F
A
A
O Apr
F
Q—J
A
1 1933
3)4% Bankers Trust Co, N Y
Treas office, N Y
1 1940
do
1 1940
Apr
1 1990
1 1921
V
MAN 1924 to 1930
F
A
A Aug 1920 to
do
1 1921
A
J Jan
A
D Dec
v
do
do
ao
do
'23
do
First Nat Bank, N Y
do
do
2 1937
J
do
4% paid April 11913
Central Un Tr Co, NY
4)4
J
do
do
1 1938
Apr
O Apr
A
(a)
Q—F
Feb
MAN Feb
944,000
1.500.000
Fr
A Feb 1920
A
do
Penna RR.
New York
and
Girard
Tr
Co,
1 1942
A
D Deo 1 1944
MAN May 1 1952
A
A
O Apr 1 1931
3M g J
6 g
2,000; d
do
PaRR.NY (c)A Pitta (r)
A
g J
Fidelity Trust Co. Phila
Apr 1 1921-1923
J July 1 1921
g MAS Sept 1 1937
A
A Feo 1 1941
g F
g J
Phila
do
Office Phiia & New York
1923
To June 1 1922
Q—M
Q—J
g
do
1,499,000
300,000
151,000
ill
1911
MAN May 1
&
A
1,495.000
1910
Additional held by company Dec.311919, a $129,000
y On Dec.31 1919 $12,617,818 held by company,
y When earned.
Miles
1,000
1.000
1,000
1,000
1,000
1911
Debentures due 145.000 y'ly (in 1930 $30,000)
1
do
do
$37.500-$38,000 y'ly
Peoria Ry Terra—1st M gu g red 102 M beg '16-IC.xo*
1st A Ref M g gu (owned by O R I & Pac Ry)-Ba.*
Fidelity Trust Co. Phlla
lH
Ac
Peo & E 1st (cons) M $10,000,000 int guar-Cex.c*
Income M int when earned non-cumulatlve_.Ce.zc
1 1952
1.500.000
964,500
5 g
500,000
4
8,376.000
4,000.000 Up to
100
202
O Oct
4H
4M
3M
3H
3M
350,000
1,000
1913
47
Valley—Stock rental (see text).....
1 1940
1 1921
&
4 g
1.000 y24,913,322
Peoria & Eastern—Ina Bloom & W 1st M pf_Ce.zc&r
Ohio Indiana & West 1st M pref g lntguar_._Ce.xo*
A
O Apr
O Apr
Treasurer's Office,
A
A
4 g
See text
500 fr Ac
Where Interest and
Dividends are Payable
5 g
1,400,000
1,000
5,910,000
1,000
1,000 bl5,433,000
4,033,000
1,000
1,000 a 7,963,000
1,000 c 4.110,000
8,711,000
1,000
9,582,000
1,000
1,000 20,000.000
1912
1913
Places
and Maturity
I*
$957,000
613,700
700.000
2.000.000
$1,000
100 Ac
1,000
1,000
1890
Girard Point Storage 1st M guar p A 1 by Penn._kr
Cornwall & Leb 1st M ext In 1906 (V 82 p 1322)—xr
Dividend
Last
RAILROAD COMPANIES
tFor abbreviations, &c., see notes on first page]
Pennsylvania
[VOL. 110.
Control.
1 1941
$8 0,000.
1915, 1% extra.
In 1919 at the rate of 7)4%. 3 J4% being paid In Febru¬
and 4% in August.—(V. 86, p. 169.)
ary
★ PEORIA
&
EASTERN
RY.—(See
Map New
York Central Lines.)—
from Pekln, 111., to IU.-Ind. State line;
holds lease In perpetuity,
Ill.-Ind. State line to Indianapolis, also
quit claim deed for same effective
when mortgages on leasehold are satisfied. 202 m.; and holds a purchaseOwns
Gross
earnings
494,261,038 443,462,523 374,938.638
-
Gross income
127,153,511
Interest, rents, sinking fund, Ac
Improvements, &e__
148,517,521.122,638,972
72,567,407
70,652,309
7,495,315
-
u
Balance, surplus
UEPORT OF PENNSYLVANIA RR.
21,760,921
43,814,137
104,951,303
42,508,857
6,497,029
Dividends
10,375,056
17,687,666
(LINES EAST OF PITTSBURGH &
ERIE, INCLUDING NORTHERN CENTRAL RY.)
Year ending Dec. 31—
1917.
4,543
Miles operated end of year
Gross earnings
Net
earnings
—_
Accrued taxes.
Ac
__
Operating income
Gross income
Construction
on
1915.
4,536
4,541
$255,093,946 $230,278,533 $196,628,170
54.505,410
$64,113,951
$53,891,609
10,241.002
9,057,940
7,640.084
$44,264,408
$65,983,652
28,889,094
29,951,099
Rental, (interest, Ac—
Dividends
(6%)
Additions and betterments
1916.
______
branches
Balance, surplus
$55,056,011
$78,220,874
28,083,329
29,952,252
9,214,925
3,713,786
7,143,459
$46,250,925
$66,626,245
26,147,264
29,952,219
7.286,849
3,239,913
$7,256,582
New York office, 85 Cedar St.
DIRECTORS.—Geo. H. McFadden, Charles E. Ingersoll, Samuel Rea,
Mellon, Clement B. Newbold, Geo. Wood, C. Stuart Henry,
Andrew W.
PENNSYLVANIA
p.
872, 964,970,1089,1188,1527,1749,1974,2193.
COMPANY,—(See
Pennsylvania RR.)—Oper•ted all the Pennsylvania Railroad lines west of Pitts, until Jan. 1 1918.
Owns
road
Maps
in
fee, and since Jan. 1 1918 has acted solely
ment company. (V. 108, p. 967).
no
To effect
a
as an
invest¬
closer unity of its system, the Penn. RR. Co. in 1917 entered
over the leases, business and assets of the Penn¬
Into an agreement to take
sylvania Company, and
its obligations, liabilities and duties to the
assume
and properties in which It had an interest.
This agreement to be¬
effective as of Jan. 1 1918, or such later date as may be agreed
upon.
The Penn. RR. owns the entire capital stock of the Pennsylvania Co. and
lines
come
guarantees its outstanding bonds.—V. 106, p. 1031; V. 107, p. 82.
Acquisi¬
tion of "Panhandle" minority stock, see Pennsylvania RR. above,
ORGANIZATION.—Chartered in Penna. April 7 1870.
LEASE, Ac.—Formerly Ohio Indiana A Western, sold In foreclosure In
1890, reorganized per V 49, p. 616.
Leased till April 1 1940 to Clev. Cln.
^hlo. A St. L., which guarantees Interest, but not principal, of the 1st con¬
sols 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 surplus
over charges.
Company owns $125,000 stock of Peo. A Pekln Union Ry.
A committee
(w. A. Carnegie Ewen, Chairman: Lcroy B. Dorland,
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 on
the bonds.
Its $80,000,001
In Jan. 1916 $1,094,000 of Its certfs. of dep
were
listed,
102, p. 251; V. 99, p. 49, 1215, 1367; V. 108, p. 2529; V. 109, p. 173.
report of committee, V. 110, p. 1742.
V
Final
BONDS.—See abstracts of mtges. of 1890 In V.51, p. 246.
DIVIDEND ON
INCOMES.—April 1 1902 to 1908, both IncL, paid 4%
yearly; 1909. 0; 1910 and 1911. 4%; 1912, 0%; 1913, 4%; .1914 to Jan.
1918. none.
Y. 104, p. 1046.
None
OFFICERS.—Pres., Samuel Rea; V.-Ps„ W. W. Atterbury, J. J.
Turner, M. C. Kennedy, G. L. Peck, Geo. D.
Nixon,
and A. J.
County; V.-P. & Treas., Henry Tatnall; Sec., Lewis Neilson; V.-P. in
charge of regions:
Eastern, Elisha Lee; Central, R. L. O'Donnel; North¬
western, J. G. Rodgers; Southwestern, Benjamin McKee.
V. 110, p. 658.
Joseph Wood.—(V. 110,
lien of $5,000,000 from O. C. O. A St. Louis Ry. Co. (owner) on
Springfield Div., Indianapolis to Springfield, O.. 130 m.; trackage Pekln
to Peoria, 9 m.; trackage, 5 miles, at Indianapolis; total oper., 210 miles
money
REPORT for 1910
was
in V. 104 p. 864.
Included in reports of Cleveland
following statement
trackage rights:
Cal.
Year—
Gross.
1918
1917
1916
*
Net.
$2,544,826
2.345,246
Represents
ended June 30
Operations since Jan. 1 1914
Cincinnati Chicago A St. Louis Ry.
The
miles operated under
covers the 201 miles owned and 9
average
net
Oth. Inc.
*$360,943
$296,780
321,603
railway
Chqs..&c.
$225,376
$460,117
391.885
operating
Balance.
$493,323 sur. $93,006
$653,844 sur.$103.053
757.496
income for
def.39.183
three years
1917.
—(V. 104, p. 864. 1046; V. 108, p. 2529; V. 109, p. 173.)
★ PEORIA & PEKIN UNION RY.—Owns Pekln to Peoria, on both sides
■it Illinois River, and yards at and opposite Peoria.
Mileage main track.
10.01: second main track. 9.73; total main track owned, 26.02 miles. Mile¬
age of side and yard tracks owned, 113.88.
"ADVANCES" AND "STANDARD RETURN," Ac.—See page 5.
Compensation, $306,513 (contract signed).
Capital stock, $1,000,000.
Owned by Peoria & Eastern (Cleveland Cin¬
cinnati Chicago A St. Louis system), Chicago & North Western, Chicago
Peoria A St. Louis, Illinois Central system. Lake Erie A Western and
Tol. Peo. A West, companies.
Dividends: 1891, 4%: 1895-1901, 6% per
annum: 1902, 4%; 1905, 5%: 1906-16. none: Jan. 1917, 6%; none since to
June 1918.
Debentures, V. 93, p. 1260.
Cal. year 1919, gross, $1,479,311;
net, def., $323,028.
Pres., Bu K. Pinkney: V.-P., E. N. Armstrong;
Sec., R. H. Hardin; Treas., E. T. Gibbons.—(V. 110, p. 1089.)
Federal
stock is owned
by the Pennsylvania Railroad.
On Dec. 31 '19 the Penn. Co
owned sundry stocks and bonds having value, per balance
sheet, $198,455,571, yielding in 1919 income of $9,659,458.
V. 102. p. 1805.
DIVS.—V04-;05. '06. '07. '08. '09 'lOto'13. '14. '15. '16.
M
Percent-/
5
6
7
7
8
7 y'ly
4
6
8
*17. '18
6
6
1919.
6
BONDS.—The gold bonds of 1921 are Becured by leases of
P. Ft. W. A
C., the Cleve. A Pittsb. and Erie A PIttsb. railroads and of bonds and
stocks having a par value in 1918 of
$20,448,450, as well as real estate.
Equip, trusts, Dec. 31 1919, $2,052,588.
Guaranteed trust
certificates,"A," "B," "0," "D" and "E" were Issued bs
Girard Trust Co., Philadelphia, as trustee, under a deed of trust
made by
the Penn. Co. and the
an
Penn. RR. Co., whereby
the Penn. Co. pledged
equal amount at par of the 7% guar, special stock of the Pitts* Ft W.
fjSWp&i V.94V"d876?:
572'
r"6: v- "•p-m; v ■72
339'
The $20,000,000 gold loan 4s of 1906, guaranteed, were at Dec.
31 1918,
secured by deposit of $33,500,000 Pitts. Cin. Chic. A St. Louis
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 French franc 3M% guaranteed loan of 1906 was
originally 250.000.000 francs.
Denomination 500 and 2,500 francs.
Y. 82, p. 1439.
The
entire issue ($10,463,358 outstanding and $37,531,140 held
by company
Dec. 31 1919) has been called for redemption on June 15 1920 at
par and
interest.
V. 110, p. 360.
The gold loan 4)4s of 1915 are secured by an equal
par value of the
French loan 3Ms of 1900; original Issue, 250.000,000 francs
(equal to $48,»
262,548), which are being bought in and pledged therefor; the 4)49 are
guar., p. A i., by Penn. RR. Co. and are red., as a whole only, at
par and
Int. on and after June 15 1918. on 60 days' notice.
The French 3Mb are
secured by valuable collateral.
See V. 101, p. 1014.846.610: V. 82,p.l43fi
V. 107. p. 1837.
LATEST
EARNINGS.—See Pennsylvania RR.
Co.
APENSACOLA MOBILE & NEW ORLEANS.—Projected from Pensacola, Fla., to Mobile, Ala., 75 miles.
In Sept. 1918 owned ana was oper¬
ating from Pensacola to Muscogee, Fla., 2o miles, and had
project for ex¬
tension to Mobile under name of Gulf Ports Terminal RR.
v. 107, p. 1101.
Stock auth., $1.150.000:
par $100; mtge., $350,000.
V. 96. p. 1490;
H)lPp
1629 )
Pres., Elwood M. Laughiin; Sec.. L. K. Blltch.—
★ PEORIA & BUREAU VALLEY RR.—Peoria to Bureau Jot., IU., 47
Leased in 1854 to O. R. I. APao.
Ry. for $125,000 yly.: dlvs., usu¬
ally 8% yearly, and for some years occasionally more Feb. 1908 and
Aug.
RAILWAY TERMINAL CO.—Owns terminal road between
111., 8 miles, over private right-of-way, and local lines:
11.4 miles; 31.01 miles of track.
Freight business handled by
«<team.
Local passenger business In and between Peoria and Pekln by
Peoria and Pekln,
eleotriclty.
over
R.
I
Has union depot In Pekln.
Owns
a
1,000-ft. steel drawbridge
the Illinois River.
Capital stock, $1,000,000, all owned by Chicago
A Pac. and Chicago
A Alton, which guaranteed the 1st M. bonds.
The former
owns the $1,500,000 First & Ref. M. 4Ms).
For year ending
31 1919, gross, $256,606; net, def., $189,197; Govt, compensation,
$39,045; other income, $1,086; deductions, $44,600; bal-., def., $4,469.
Pres., W. G. Bierd; V.-P., J. E. Gorman; Sec. A Treas., Carl Nyquist;
Aud., J. N. Ford.—(V. 107, p. 1004.)
Dec.
APERE
MARQUETTE
RY.—Total system Dec. 31 1919 2,267 miles,
operated, 2,230 miles, viz.:
lines gridirons the State of Michigan, serving Detroit,
Port 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 over
B. A O.), the Suspension Bridge at Niagara Falls, using the
Michigan Cent.
RR. from St. Thomas, Ont., east., Toledo, Ac.
less 37 miles leased to others; total
The company's
Lines Owned—
Main lines and branches
Business producing branches
Controlled—
Miles.
Trackage—
Thomas, Ont., to Internat'l
Bridge and Niagara, N. Y
141
Other trackage
86
St.
1,798
21
Miles.
Lake Erie A Detroit River
Other lines
Less owned not
199
operating
23
In 1918 operation on 12 miles of road was abandoned.
37
.
V. 108, p. 169.
Operates car ferries Ludlngton to Milwaukee and Manitowoc.
Of the
37 m. leased to other cos., 34 miles, Lawton, Mich., to South Haven, is
leased to Kal. Lake Shore A Chicago Ry.for 25 years from April 15 1907.
above.
REPORT.—For 1919 in Y. 110, p. 965.—(V. 110, p. 360, 965.)
CV
★ PEORIA
total,
ORGANIZATION.—Incorp. In Michigan March 12 1917
session of property as of April 11917.
and took pos¬
A reorganization, per plan in V. 103
1692, 2342. of Pere Marquette Railroad Co. after foreclosure sale, under
Ref, 4% M. and Impt. A Ref. Gea. M.; Flint A Pere
Marquette Consol. M. and 1st M.; Port Huron 1st M. 5s; Grand Rapids
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. anrt
Detroit Grand Rapids A Western 1st Consol. 4s.
Sale of stock interest of
J. P. Morgan A Co. and status on July 1919, see V. 109. p.
173, 73.
p.
Consol. M. of 1901,
Federal Contract, signed in Feb. 1920, fixed annual
compensation at
$3,748,196.
The company refused the six months extension of the Gov¬
ernment guaranty.
"STANDARD
RETURN," Ac.—See
page
5.
May, 1920.] *gSS?ent
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations, Ac., see notes
Pere Marquette Ry.
Common stock
Date
Par
Amount
Rate
When
Road
Bonds
Value
Outstanding
%
Payable
Lake Erie & Detroit Rlv Dlv coll tr M gold.
Collateral trust mortgage gold call par
G
$100 $45,046,000
100
11.200,000
100
12,429,000
l.OOOAc
21.976,000
8,479,000
1916
$75.OOO.OOOBaiSer. B 4% call at 100 & tnt_y c*Ar*
Securities Left Undisturbed.—
1910
199
1903
1903
1,000
Jan 1923
PeP.kv.c*
First M Ser 2 g call 105 from Jan 1923-.PeP.kv.c*
38.2
38.2
1888
100
1888
9hlla Baltimore & Wash—Stock auth $29,900,450-_
Plain bonds
( All secured ] .xr
Plain bonds gold
j
by 1903
f.xr
Plain bonds gold
—_l
mortgage.
j-xr
First mortgage $20,000,000 gold....
G.xc'&r*
Plain bonds gold due $500,000 yearly —
_ __xo*
Phlla A Bait Cent—1st M $10,000,000 g gu pAIFP.x
229
1909
"86
6
24
1,000
1,000 Ac
L000
1890
1868
prel old 5s red'96g.PeP. kv.o*
1st mtge
old 4s not pref lnt reduced In '96 g PeP.kvo"
Philadelphia & Erie—See Pennsylvania RR
Phiia & Frank—First mtge $500,000 guar.GuP. kv.o*
Phila Germ & Norristown—Stook rental P & R Ry...
CAPITAL STOCK.—The
Common stock
stock
new
(V. 103,
p.
—Jan.
1-Mar.
1920.
31
<
.
Tax, rents, miscellaneous interest, Ac
interest-
-
Surplus
-
Maint. of
do
equipment
6,468,044
do
deprec'n
Traffic expenses..
664,454
337,974
Transportation expenses
14,764,362
General
877,318
124,777
Cr.8,593
expenses
Miscellaneous operations
Transportation for Inv__
Total oper. expenses.$26,723,825
Net operating revenue.Taxes
Uncollectibles A miscell.
$8,719,311
670,865
2,368
5,607,546
536,348
344,773
12,233,619
825,442
61,442
Cr. 11,681
Total income
Rentals, Ac
Hire of equipment
Bal. for int. charges..
$8,046,078
Int.
on
Divs.
do
30
50
1692) include$45,0-*
un
11,200.000
1 -Dec.
1919.
31
1918.
1918.
$3,748,196
72,324
103,866
197,853
1,687,766
1,894,125
$23,507,855 $21,210,053
$2,425,689
$2,007,172
3.420,626
4.268.058
474,064
442,858
381,311
9,925,781
7,338,105
644,976
492,361
57.136
48,323
Cr.9,685
Cr.4,904
.
$5,598,490
$6,045,026
156,611
$3,661,473
$4,780,593
665,934
749,110
-12 Months to Dec. 311918.
1917.
$1,689,751
39,062
560,000
$3,689,875
1,687,760
4,702
560,000
$4,306,615
$1,997,413
$1,645,055
xl .687,760
1,991
326.667
OFFICERS.—E. N. Brown, Chairman A Pres.; R. B.
Wilson, Vice-Pres.;
Sikes, V.Pres.; E. M. Heberd, Sec.; W. E, Martin, Treas.
Directors.—S. T. Crapo, Detroit; F* W. Stevens, Ann
Arbor, Mich.;
Francis R. Hart, Robert Winsor, Boston; John A.
Clarence S.
Spoor, Chicago; John W.
Stedman, Newark, N. J.; Frederick Strauss, Beekman Winthrop, E. N.
Brown, Franklin Q. Brown, Wm. P. Philips, Chas. Hayden, E. V, R.
Thayer, L. F.lLoree and Wm. H. Porter, N. Y.—(V. 110, p. 167, 562,
765, 971, 2068.)
.
do
Nashua, New Hampsh Ire
6
J
A
D June 30 '20, 3% Broad St Station. Phlla
MAN Nov 1 1922
Broad St Station, Phlla
J
A
J Jan 1 1926
do
do
A
A
O Oct
1 1932
do
do
MAN Nov 1 1943
de
do
J
A
J Janl921 to 1924
de
do
M
A
N Nov 1 1951
do
do
FA
A Aug 1 1940
do
do
J
&
J Jan
1 1933
do
do
4
-
\z
4 g
4jj
4 g
.
A
$3,689,875
Reading Terminal, Phlla
Apr 1920 2%
F
$6,717,8801
Balance, surplus
Jan
O
4 g
$6,201,637
prior pref. stock
6
A
500,000
$4,598,490
638,096
1,282,832
bills pay., Ac
on
1 1938
1 1938
A
1,000
$4,698,720
631,743
495,628
1919.
Jan
Q—J
Q—J
£8
1892
$8,083,875
656,950
709,045
$6,593,437
1,687,760
Bankers Trust Co, N Y
People's State Bk, Detr't
2.55
37,797
Balance brought forw'd.
Interest on bonds
1 1923
O Apr
$23,387,876 $17,381,446 $14,530,424
$5,567,136
$6,126,410
$6,679,629
864,731
640,479
626,275
4,785
7,403
8,328
$4,698,720
Aug 1 1932
J Jan
O
2,240,900 See
text
Apr
1 1938
1 1938
Reading Terminal, Phlla
do
A Aug I 1922
June 4 1920 3%
Q—M
do
Reading Terminal, Phlla
Mar
A
Mer
Bldg,
Phlla
A PERKIOMEN RR,—Owns from Perkiomen Jet., Pa., to Emaus Jet.,
Pa., 38.23 m.; trackage on P. A R. Ry., Emaus Jet. to East Penn Jet.,
3.0 m. Stock ($1,500,000, par value of shares $50) owned by the Reading
Co. and mostly deposited under its Jersey Central collat.
4% mtge. of 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 1919: gross,
$1,121,836; net, $559,426; year 1918, gross, $1,117,383; net, $530,575.
The
refused tne six montns extension of the Govt, guaranty.—(V. 105,
company
p.
1802.)
★ PETERBOROUGH RR.—Wilton to Greenfield, N. H., 10.64 miles.
Leased April 1 1893 to Boston A Maine for 93 years at 4% on stock and expens es.
Capital stock, $385,000; par, $100; div. A. A O.
★ PHILADELPHIA BALT. fit WASHINGTON RR.—(See Map Penn.RR .)
Lines owned—
Miles.
Lines controlled. Leased, Ac.—
Phila to Washington, D. O.. via
Delaware RR
245
Bait., all double track
131 Delaware, Maryland A Virginia 98
Phila. to Octorara. Md.. A bra.. 63 Other lines (5), trackage, Ac
9
Perryville. Md., to
Columbia,
Pa.,
Ac
...
Bowie to Pope's Creek, Md
Sundry branches, Ac
43
49
123
Tota
operated Dec. 31 1918
760
ORGANIZATION.—A consolidation 1916-17.
V. 104, p. 1580; V.
103. p. 1033; V. 102, p. 1897; V. 107. p. 2009, 2188.
Property leased to Penn. RR. Co. (V. 106, p. 1031) for 999 years from
Jan. 1 1918 at a fixed rental providing for dividends on stock at rate of
6% per annum.
V. 105, p. 1709, 1898, 2543.
STOCK.—Stock authorized, $29,900,450; outstanding Dec.
$26,438,925, of which Pennsylvania RR. owned $26,430,950.
31
1918.
Dividends since consolidation Dec. 31 1902 to June 1916. 2% seml-ann.;
4% p. a.; Dec. 1916 paid 4%; June 1917 to June 1919, 3% semi-ann.; 6%
p. a.
Under lease, 6%
p. a.
V. 105, p. 1709.
BONDS.—The flrst mortgage ol 1904. ($20,000,000 authorized) Is a first
on the Philadelphia-Baltimore division, 117 miles, all double-tracked.
and also secures pari-passu the $2,930,000 debentures of the former P. W. A
B., and also on the line from Baltimore to Washington. V. 78 .p. 49; V. 92,
ilen
p.
795; V. 97, p. 1427, 1734; V. 98, p. 237. 1000.
Loans and bills payable, Dec. 31 1918, $7,227,773.
The 4s of 1909 are to be secured by a new mortgage.
V. 84,
p.
1368;
V. 85, p. 281; 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 of bonds 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 from time
to time of such bonds for any purpose authorized by the mortgage.
The board has not (to May 1919) availed itself of this authority, but upon
receiving Governmental approval proposes 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, authorizing a total issue of $33,000,000
of such bonds.—V. 109, p. 1074.
REPORT.—Report for 1918 in V. 108, p. 2123; V. 109, p. 1074, shows
Income from lease of road, $2,694,036; other income, $1,385; int., Ac.,
charges, $1,107,816; dividends (6%), $1,586,220; balance, surplus, $1,385;
P. A L. surplus, Dec. 31 1918, $13,793,928.
Year end. Dec. 31—
1917.
1916.
1915.
1914.
Gross earnings
$33,212,404 $25,540,425 $21,311,137 $20,357,562
Net
$8,624,157
$0,880,141
$4,864,915
$3,759,527
^
1916.
1917.
Net Income, after taxes, &c__
received
Joint facilities rents, Ac
Gross
.
Income
Lease of other roads
Hire of equipment, balance
Joint
facilities,
-
rents
.
.
Bond Interest
Other Interest and miscellaneous.
Dividends (6%)
Additions, Ac
Balance, surplus
108, p. 1823, 2123; V. 109,
-
V.
p.
$7,409,653
$956,510
389,135
$0,125,228
$1,013,007
$8,755,297
$372,772
994,686
851,059
1,070,863
484,899
1,586,220
212,256
$7,522,785
$652,833
$3,192,542
.—.—
Dividends
_
Operating incoineT
Interest, &c., received
A
&
A
12 Months to Dec. 31
Year ending
1919.
19181917.
June 30 '16.
$26,504,204 $22,200,348 $16,8-50,266 $15,098,250
6,127,461
4,233.797
4.213,804
4,129,019
2,106,973
1,903,918
1,825,830
1,598,884
704,969
616,948
617,955
383,894
Total oper. revenues.$35,443,136 $28,955,011
Maint. of way A struct's
3,495,488
$3,790,387
A
A
$3,748,196
124,903
121,479
160,082
1,726,547
1,896,931
Expenses
F
A
1919.
Tentative Government rental.
Bankers Trust Co. N Y
do
do
A
Jan.
1919.
July 1 1950
July 1 1956
J
8
J
24
$7,292,184 $35,443,136 $28,955,011
Net__
406,820
1,126,245
8,719,311
5,639,460
REPORT.—For 12 mos. ended Dec. 31 1919, in V. 110, p. 2068, showed
Earnings Based on Tentative Government Compensation.
-
Payable
&
4 g
3 S
$8,653,803
.
—
are
May 1 1920 IX
280,510
100,000
.
Freight
Passenger—
Mail, express, Ac
Incidental, Ac
Dividends
J
500
500
12.429.000
Voting Trust.—All three classes of stock are held by James S. Alexander,
Benry R. Hoyt, Francis R. Hart, Frederick Strauss, Eugene V. R. Thayer,
Windsor and Beekman Wiuthrop, 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 31 (V.
105, p. 73); Nov. 1 1917,
to May 1 1920 1^% quar. V. 109, p.
1367. 1793.
BONDS.—The first mtge of 1916 Is a direct first lien on all the railroad
property, equipment, Ac., owned by the company in the U. S. and also
covers
securities owned in several
subsidiaries.
The mortgage Is for
$75,000,000 (see V. 103. p. 1692. and offering in V. 104, p. 1205, 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 & int..
21,976,000
Series B 4%, due July 1 1956, redeemable at par Aint..
8,479.000
Reserved to retire undisturbed bonds, viz.: $3,000,000 P. M.
(Lake Erie & Detroit River Ry. div.) Collateral Trust
4Xs
and $2,870,000 P. M. Collateral Trust 4s
5,870,000
Reserved for Issue after July 1 1918 for acquisitions,
additions,
betterments and Improvements, under restrictions
38,675.000
To meet the cash requirements, J. & W.
Seligman A Co., Robert Wlnthrop & Co. and Kidder, Peabody & Co. formed a syndicate to pur¬
chase for $16,000,000 and int. on the bonds;
$6,000,000 1st M. bonds, Ser.
A, 5%; $11,200,000 5% prior pref. (v, t.
c.); $25,675,400 common stock
(v. t. c.j.
This syndicate offered to depositors of old divisional bonds,
Consol. Mtge. bonds, Ref. Mtge. bonds. Coll. Trust notes, debentures'
first pref. stock, second pref. stock and common stock the
opportunity ta
acquire $11,200,000 5% prior preference stock, cumulative (v. t.
c.), and
$22,400,000 common stock (v. t. c.), at the following rate, viz.:
$1,000 prior preference stock (v. t. c.)
/for the sum of
$2,000 common stock (v. t. c.)....
\ $975 in cash.
Loans and bills payable Dec. 31 1918
$4,500,000
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
EARNINGS.—
4H
4 g
1.000
1,000
1,447,000
1,000 In treasury
Robert
Operating Revenue—
Places Where Interest ana
4
1888
1888
Prior pref. stock 5% cumulative. 1st
pref. as to prln. and dlvs.
Redeemable at par and dividends
Pref. stock 5% cum. after Jan. 1 1919, 2d pref. as to
prin. and
dlvs.
Redeemable at par and divs
income
Maturity
J
4 g
20,437,000
1,000,000
927,000
1,000,000
16.070,000
2,500,000
2,200.000
1,000
1,000
1911
43
Q-—F
799,600
1.125,000
385,000
50
1887
1891
1892
1904
x
Columbia A Port Deposit first mortgage gold
Chester Creek RR 1st M S1S5.000 gold
Phlla & Ches V—IstM
Ac
1.000
100
Peterborough RR—Stock (rental 4%)
Petersburg RR—See Atlantic Coast Line RR.
Phila Sr. Baltimore Central—See Phlla Bait A Wash
Bond
and
J
3,000,000
2.870,000
Perkiomen—1st M Ser 1 gold callable 105 from
Other
Last Dividend
...
Prior prel (a A d) stock 5% cum red at
par & divs...
Pref (a A d) stk 6% cum aft Jan 1 '19 red par A divs
1st mtge gold ISer. A
6% call at 105 A int.yc*Ar*
Gross
107
Control.
Miles
first page]
on
APrlvate
$478,508
384.550
690.404
776,693
1,016,121
383,497
1.560,238
1,964,492
578, 1074.
★ PHILADELPHIA A CHESTER VALLEY RR.—Road from Bridgeport
to Downlngton, Pa., 24.07 miles.
Chartered in 1888. Capital stock (par $50)
in oommon, $550,000; preferred, $205,100; total, $755,100. of which Read¬
ing Company owns $489,300 common and $205,100 pref., $450,000 common
and $205,100 pref. being deposited under Its gen. mtge. of 1897
Reading
Co. guarantees bonds, with int. reduced.
See V. 63, p. 1061.
★ PHILADELPHIA & FRANKFORD RR.—Owns from Crescentvllle to
irrankford,
Pa.,
2.55 miles; total
tracks,
4,26 miles.
The $500,000
by Reading Company, of which $498,950 Is deposited under
Its mortgage of 1897; principal and 4% Int. is guaranteed by Reading Co.
Leased to Philadelphia A Reading Ry. for 999 years trom July 1 1907 for
interest on $500,000 flrst mortgage bonds and $111,466 outstanding obliga¬
tions, any excess of net earnings to be applied to reduction of principal of
latter, and thereafter to dividends on stock,—(V. 67, p. 1358, 1357.)
itock Is owned
★ PHILADELPHIA GERMANTOWN & NORRISTOWN RR.—Phila., Pa .
Norristown and Germantown, Pa., 21.52 miles; second track, 20.43 miles;
to
third track,3.81 miles; total track, 80.5 miles; leases Plymouth RR., 8.9S
miles.
Leased on Nov 101870 to Phlla. A Reading for 999 vears: rental.
$277,623.
lncl.
$8,000
yearly for
organization
expenses.
The
quarterly
dividend paid Sept. 4 1918 was only $1 25 per share (2X%) and that paid
Dec. 4 I9l8^and again Mar. 1919, $1.35, instead of $1.50 (3%) as previously
owing i« pending litigation with lessee as to which company should pay
*
108
Pittiburgh-
Phlla Harrlsbur* &
Date
Par
Amount
Rate
When
Road
notes on first page. J
Bonds
Value
Outstanding
%
Payable
kv.o*dsr
46
.kv.c*
-lst U g
22.22
1.000
P<aua & Troy—First mtge
1907
$250,000 gold
119
136
178
1,000
1901
1892
1,000
1,000
1890
100
1.854
581
1,144
General mortgage 5s (see
1,000
1.000
1.000
text)
assumed
gold assumed.Fs
RRICons M Ser A sf
$25.000.000) Series B assumed
23
xo"
A Ind oons M (now first)
a8smd_F.xc*r&r*
Vandalfa
x
Pittsburgh Cleveland & Toledo—See Baltimore A Ob
Pitts Ft Wayne & C—Pref stock (orlg'l guar stock)
Original guaranteed stock unexchanged In Oct 1919
Common stock (guar spec stock) 7% gu $80,285,700
Guaranteed special stock unexchanged in Oct 1919
99
651
651
deducted
from former dividends;
100
to Pennsylvania RR. at 10% on $494,100 stock, the
$765,000. being owned by United New Jersey RR. d> Oanal Go.
to
for
after taxes, $143,476.
Lewis,
BESSEMER & LAKE ERIE RR.—Bessemer, Pa., to
Oonneaut Harbor, O., 152 miles; leased to other roads; other mileage owned,
30 m.: branches and spurs, 35 m.; leased Meadvllle Conneaut Lake A Lines-
RR. and Linesvllle to Meadvllle. 22 m.; trackage to Cascade, near
Eric, Ac., 13 m.; total, 252 miles (142 miles double-tracked).
vllle
consolidation Jan.
14 1897.
mer
N Y
3H K A
J
5 g
A
Oct
1 1931
Co's office,
Pittsburgh,Pa
3b
F
A
Treasurer.
M
3o
July 1 1925
Feb 1 1955
Nov 1 1957
5 g
4 g
Q—J
7
O— J
7
Q—J
Q—J
Gross
paid off June 1
CHARTIERS
&
YOUGHIOGHENY
RY.—Owns from
Unartlers to Beechmont.20 miles; trackage (Chartiers Ry. 1.40 m.; 22 m. Id
all.
STOCK outstanding Dec 31 '18, $1,390,000, owned Jointly by guar
antors mentioned
below.
Auth. stock. $1,500,000.
V. 82, p. 1209
Compensation.—$180,614 yearly during Federal control (contract
6
6
1920 1M Wlnslow,
1n20 1H
do
| Apr 1 1920, 1
Pittsburgh
N Y
Lanier3eCo.NY
do
H
5.
*15. '16. 1917
May 27 1920 on authorizing an
Issue of
110, p. 965, showing Government
$11,334,094 $11,334,094
666,206
224,203
income
Total deductions
Net income
and other reserve
Balance,
Pres.,
Knight,
^
.
1917.
1918.
1919.
331,790
.$12,000,300 $11,588,297
7,656,892
6,828,318
4,343,408
4,729,979
funds..
1,232,523
1,202,758
$11,919,875
6,179,717
5.740,158
$146,575
$354,149
H. B. Mc1974.)
1,160,564
(4)3,380,646 (5)4,225,445
$3,110,885
surplus
Samuel Rea, Phila.; Sec., S. H. Church; Treas., T.
Pittsburgh.—(V. 110, p. 659,-965, 1089, 1188, 1290,
★ PITTSBURGH
FORT WAYNE & CHICAGO RY.—(See Maps Penn. RR.)
111., and branches, 470
ROAD—Own* from Pittsburgh, Pa., to Chicago.
Double track
469 miles
Leased to Penn. RR. Co. for 999 years from July
miles.
1 1869, and is operated
stocks
executed).
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,
none; 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. & St. Louis, (he other half by Pitts. A Lake Erie.
See guaranty,
V. 56, p. 650.
In 1918, accrued Federal compensation, $184,008;other
income, $6,380; taxes, $8,000; int. rents, &c., $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., J. M. Schoonmaker.—(V. 109, p. 1367 )
★ PITTS. CINCIN. CHIC. & ST. LOUIS RR. (Consolidated Oompanv)
Lines leased (*See these cos.)—|
Lines owned—
Miles.
504
Terre Haute A Peoria
Anoka Jct_.
166
Chicago A Eastern Illinois
Indianapolis
Indianapolis to Jeffersonville-.
Indlanap., Ind.. toE St. L.. III.
Indianapolis to VIncennea, Ind.
104
108
•Little Miami
Pittsburgh, Pa., to Chicago. III.
Rendcomb Jet. to
Pa RR Co.
Dividends
1919.
2023
The mtge. of 1897 is for $10,000,000; $3,568,000 reserved to retire Pitts¬
burgh Shenango & Lake Erie bonds.—(V. 106, p. 924; V. 108, p. 2023.)
★ PITTSBURGH
RR Co. N Y
See under "Bonds" below.
( *02-'05. '06. '07-'09. '10. T1-T3. '14.
income
To sinking
were
Apr
Apr
108, p. 80; V. 108, p. 2123.
The stockholders were to vote
Other corporate
the Carnegie Steel Co.. subsidiary of
$2,000,000
Pa
Preferred
p.
Bradford Jet. to
South Bend to Rockvtlle, Ind
Logansport, Ind., to Butler
238
119
40
Frankfort to Ben Davis
...
160
93
-
145
16
195
9
Ohio Connecting Ry
Other lines
4
118
Trackage
Operated under their own org.
Pitts. Char. A Yough
Waynesburg A Wash
RR
owned
.
-.-1,896
Total of all Dec. 31
1918
directly with that railroad
(V. 105. p.2095); rental, 7% on
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
2,431
courts so decide.
V. 72, p. 821, 1188. In
of 5% % on both common and preferred in
quarterly payments of 1 % % •
Compare V. 108. p. 1275.
guar, special stock only in case
Jan. 1920 paid special dividend
addition to regular
CAPITAL
the
STOCK.—A plan was adopted Oct. 17 1917
(1) increasing
limit of capital stock to $100,000,000, thus permitting the issuance
time to time as required of $27,849,414 additional guaranteed
from
special stock, or as it is now known, common stock, with dividends pay¬
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 bum 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. 716; (3) the distribution of fund of approximately
$1,500.000. after meeting expenses of recapitalation, to all stockholders other
than Penna. RR. and Penna. Co. See V. 105, p. 716.
Under the above
able
plan the authorized
capital stock was increased to $100,000,000, and there
been issued to Oct. 1 1919 $14,713,700 of pref. stock in exchange for
original guaranteed stock and $10,*174,800 of common stockl n exchange for
a like amount of guaranteed special stock, also $12,780,600 of common stock
to the lessee company on account of additions and betterments for the cal¬
endar years 1913 to 1917 inclusive.
nas
20
28
363
Branches
Total
Pa RR Co,
Federal compensation
Leased for 999 years from April 1 1901 to the Besse¬
RR., a subsidiary organization of the U. 8. 8tee! Corp.
pref. and 3% on com. stock, interest on bonds and organization
BONDS.—Debentures of 1899,
Federal
1 1934
Corp.
expenses, &c., lease guaranteed by
U. S. Steel Corp.
V. 72, p. 137.
V. 108
J Jan
REPORT.—For calendar year 1919, V.
A Lake Erie
for 6% on
do
do
A
A
g
compensation, &c.:
see
the U. S. Steel
do
M
J
6
Boat lines tc
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
Canada,
do
improvement and extension 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).
1 he 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 8t. Louis.
The general mortgage
will also provide for the refunding of the existing loans on this property as
they mature.
See V. 110, p. 1188, 1089.
Frank
Gen.
Mclntyre, Wra. Barclay Parsons, J. G. White, Alonzo Potter, J. H. Par¬
dee, William Salomon, Charles M. Swift, Cornelius Vanderbllt, Col. Ohas.
O. Walcutt Jr.
Chairman, William Salomon; Pres., Charles M. Swift;
V.-Pres., J. H. Pardee and C. Lewis- V.-P. A Gen. Man., R. R. Hancock;
Sec. & Treas., T. W. Moffatt.
Office, 43 Exchange Place, N. Y. City.—
(V. 98, p. 690; V. 104, p. 2553; V. 108, p. 2630.)
&o.—A
do
1960
1 1963
May 1 1964
Aug
$35,000,000 5% Gen. Mtge. bonds, $20,000,000 of which will be issuedat
once to reimburse the Pennsylvania Co. for advances made to cover the
other Income, $2,349
ORGANIZATION.
1957
Feb
7
V.
after
total deductions $356,365* add'ns
betterments, $23,321; bal., def., $193,940.
Year 1917, $474,270; net,
REPORT.—Earnings for calendar year 1918, gross. $508,029; net
★ PITTSBURQH
Nov
i z
4 7
do
do
do
do
do
do
by
for
maturity, at which time they
for Improvements, additions,
fee.
They are guar, unconditionally as to prin. 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. 96, p. 488; V. 97, p. 365. 596; V. 90. p.
303.1555; V. 91. p. 337; V 92, p. 1243; V. 98. p. 1461: V 99. p. 19ft: V. 100.
p. 475: V. 103, p. 2342.
Equipment trusts Dec. 31 1919, $2,585,816.
To retire the $1,899,000 old bonds of Terre Haute A Ind. told Vandalla
RR.) an equal amount of consols of 1905 was reserved. See V. 80, p. 1243.
1236: V. 82. p. 162, 630; V. 86. p. 1531; V. 90. p. 850. 915.1426.
The shareholders voted Feb. 3 1919 to authorize an issue of $35,000,000
gold debenture bonds.
In May 1919 applied to Ohio P. U. Comm. for
authority to issue $20,000,000 6% Debs, due Jan. 1 1934.
V. 107, p. 1920;
m
McK.
do
do
the Pitts. Cln.
Philippine Govt, guarantees Interest on an Issue of 1st M. 30-year sinking
Clarence
1953
the purpose of retiring all sectional bonds at
must be paid off.
The remainder are Issuable
4% gold bonds, which may be Issued to extent of 95% of cost of
construction.
Any Interest payments by the Government become a cumu¬
lative lien on the property, subject to the lien of the 1st M. bonds.
Green.
Deo
BONDS.—Tbe Consolidated Mortgage for $75,000,000. made In 1890
Chic. A St. Louis Railway Co. reserves sufficient bonds
baianoe
fund
S.
1945
1949
do
Aug
(%) —(4 yrly. 4X 5 yrly. 6X 5 yrly. 2% 2H
6
3Old Common (%) — (—3 yrly.— 4 yrly. 6)4 5 yrly. 2
2
9
In Aug. 1917 and again on Jan. 25 1918 paid 2H% 00 th* new (con¬
solidated) stock, but in July 1918, and again Jan. and July 25 1919 and
Jan. 26 1920, paid 2%, the reduction being made to meet the wishes of the
U. S. Railroad Administration.
V. 107, p. 292, 402; V. 105, p. 2543.
ORGANIZATION.—Incorp. Mar. 5 1900 In Connecticut with an auth'
capital of $5,000,000.
V. 80, D. 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
T.
Nov
A
4 g
DIVIDENDS.—
PHILIPPINE RY.—Under a concession granted Julv 13 1906 by the
Philippine Gov't, In accordance with an Act of Congress of the United States
and with tbe approval of the Secretary of War, this company has
oontraoted to build lines of railroad In the Philippine Islands as follows: Isl¬
DIRECTORS.—H.
A
F
7
Old
In 1905,
and
A
M
3H
acquire the minority holdings.
RY.—See "Reading Company."
999 years
taxes. $183,397;
A
4\4
4 g
STOCK.—Total stock outstanding Dec. 31 1919, $84,860,111 (of which
Pennsylvania Company owned $65,117,155 and Penn. RR. $450,000),
Including $293,288 for conversion of outstand. securities of constituent cos.
In March 1920 the Pennsylvania RR. and Pennsylvania Co. offered to
Newtown. Pa..
Cebu. 95
A
g
"STANDARD RETURN," &c.—See page
NEWTOWN & NEW YORK RR.—Philadelphia to
22.22 miles;2d track. 3.50 m.i 3d traok. 2.16 m.; sldlnsrsand
laterals, 4.88 miles.
Stock—common, $1,225,000: preferred, $400,000;
Dec. 1918 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 gen. mtge. of 1897
$247,100 additional being owned but not pledged.
In Oct. 1898 lnt on
$507,000 bonds was reduced to 3% from April 1 1897 and made a first
'•hare*- remainder 5%, suhfw* fo said agreement.
Y. 08, p. 773.
Year
ending Dec. 311918, gross, $218,408; net, $14,097.
★ PHILADELPHIA
100 m.. and
A
4H t
Plttsb'b
Office,
Pittsburgh
Pa
1 1932
Jan 26 1920 2% Treas office. Plttsb. Pa
Reg Penn RR, N Y coup
1932
Oot
Penn RR Co.. N Y
1940
Oct
do
do
1942
Apr
do
do
1942
Nov
666, 844, 2429, as a consolidation of the folio wing cos belonging to the
Pennsylvania RR. system: Pitts. Cine. Chic. A St. L. Ry., Vandalfa RR.,
Pitts
Wbeel. A Ky.. Anderson Belt Rv. 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 & WesternRR. —V.
107, p. 2377.
Federal Contract, signed in Feb. 1920, fixes annual compensation at
$11,334,093.
974, 1987.)
PITTSBURGH RR.—Harrisburg
45.83 m.; 2d track.
1890 for 999 years
at 5% on stock, int. on bonds, taxes to Phlla. A Reading RR.
which by en¬
dorsement on each guar, the bonds, prln.Jc int.
Leas* assumed In 1896
by Phlla. A Reading Ry.
Stock, $2,000,000, all owned by Reading Co.
and of Panay. 100 miles; Negros,
&
United States Tr Co, N Y
Union Trust Go,
1 1921
ORGANIZATION.—This railroad company completed Its organization
Jan. 1 1917 with $100,000,000 of auth. capita 1 stock, per plan in V. 103,
PHILADELPHIA HARRISBURG &
★ PHILADELPHIA &
TRENTON RR.—Phlla. (Kensington), Pa.
Morrisvllle, Pa.. 20 miles; mostly four-traoked.
On June 30 1871 leased
do
Central Union Trnst N Y
do
do
Oct
p.
1920
in March and June
Office
Co's
from
do
on
Pa., to Shlppensburg, on the Western Maryland RR.,
41 m.: sidings and laterals. 14.69 m.
Leased Oct. 15
PHILADELPHIA & READING
4
4H
4H
N Y
Apr
42,261,500
inn
paid $1.50 (3%).—(V. 108, p.
★
Apr
A
14,713,700
5,000,586
100
470
In Mar. 1919 Judge Audonreid at Phila. decided that the
this tax and gave Judgment for about $12,000 against
& R. In Dec. 1919 paid $1.50 (3%) and an extra of 85 cents being
amount
A
22.955,400
100
470
the excess profits.
the P.
6c
A
5 g
Check
1920
RR
to
lassee was liable for
the
Apr 1
1 1940
July 1 1943
Jan
1 1947
6b
g
•
Phlla
3b Tr Co. Cln
Un Sav Bk
D June 1 1920
4 g
625,000
1,899,000
9.787.000
6.477.000
1,000
1.000
1.000
1,000
1901
1885
1905
1907
*
6,819.000
3,492.000
(?)
1919
O
?g
5 g
4,263.000
1,858.000
9.574,000
8,332.000
2,513.000
1.000
1.000
1.000
1914
gold
Debentures $35,000,000
mortgage
1892
1892
1895
1899
1903
1907
1910
1913
N Nov
&
5 g
1,478,000
9,873.000
8,655,000
1.379.000
1.000
1890
A
A
A
84.860,111
1,000
1,000
1.000
1.000
1883
A'
("A" goldjco*
"B* gold.xc*
gold-xo*
gold-xo*
gold-xo*
gold.xo*
"G" gold.xo*
"H" gold-xo*
gold.xa*
"J" gold.xc*
first
1,000
1,000
"20
Louis Ry—
Consolidated mortgage $75,000,000 "C"
"D"
gold guaranteed prln A lnt (end) by
"E"
Pennsylvania Company unoondl..p..
tionally, all equally secured
cm artier s
1893
,1897
Bankers Trust Go,
1 1939
M
ig
do
do
1 1942
j" "<sT"j July "l" 193 7
~4~g"
250.000
10.000.000
2,000,000
2.989.000
574.000
6.437.000
2.050,000
164,000
50
•
Terre H
1,000
50
-
•
1,000
1899
o
Pittsburgh Bessemer & Lake Erie—Common 3% rent
Preferred 8took 6% cumulative guaranteed by rental
Pittsburg Shenango A Lake Erie 1st M g .Ce-xxo*
Consolidated first mtge for $4,800,000 g .CeJtro*
Pitts Bess A L E oons mtge $10,000,000 g -Us.xxo*
Butler equipment trust $2,050,000
— UPixx
Plttsb Chart & Yough—Gen M $1.000.000 g gu.FPik
Plttsb Cincinnati Chic & St L RR (new)—Stock...
Ohio St L & Pitts oons M ($22,000,000) g-.Un.xo&r
Plttsb Gin Chic A St
5.000.000
8.549.000
100
15,000,000 authorised.-
1st M $15,000,000 g lnt guar s f red llO-.Ba.xo'&r*
Piedmont & Cumberland—See Western Maryland
Pine Creek—See New York Central
Reading Terminal, Phlla
15 1925
Jan 10 '202H% Treas Penn RR Co,
Q—J
10
Where Interest end
Dividends are Payable
and Maturity
A AO 15 Oct
A
A
O Oct
dl
See text
100
26
Philippine Ry—Stock
$2,000,000
1,599.000
$1,000
1890
1892
Places
Dividend
Last
Miles
RAILROAD COMPANIES
{For abbreviations, Ac., sec
[VOL. 110.
^Control.
BONDS
RAILWAY STOCKS AND
Contract?
May
★Government
1Q20 1
RAILWAY STOCKS AND
contract.
J
see notes on
Date
Par
Amount
Rats
When
Last Dividend
Road
first page]
Bonds
Value
Outstanding
%
Payable
and Maturity
1,000
1,000
1,000 Ac
2,000,000
2,000,000
2,654,661
6 g
5 g
J
A
J Jan
A
A
O Jan
1 1928
1 1928
New York Trust Co, N "V
4H
J
&
J Jan
I 1928
Guaranty Trust Co, N Y
J
A
J
Pittsburgh Junction—See Baltimore A Oh!) RR.,
Pittsburgh & Lake Erie—Stock autb $50,000,000—
First mortgage gold
*c
Second mortgage gold Series A and B
N.zo
Equipment Trust Certificates Dec. 31 1917—c*Ar
Pittsburgh McKees & Yough—Stock guar (see text)
$50 $35,985,600 10 In '19 F
75
•
75
1878
•
75
1889
First mortgage guar byPALEan&LSAM
2d M guar p & 1 (end) byPALEandLS&M
S_xc
S.xc
Pittsburgh Painesviile & Fairport—See Baltimore &
1913
1882
1912
1913
1914
1910
196
J July
1 1932
do
do
A
J July 1 1934
do
do
15.000.000
3,384.000
7.260,000
50,000
161,000
5 g
J
in
1.000
1913
100 AC
1~000
1902
1.000
a
V. 90,
99-year traffic agreement
p. 237: V. 92, p. 874.
was
A
O Nov
A
'20-Apr '27
Semi-an. Aug-Sept '19
D June 1919
A
J Jan
A
A Feb
1 1949
4 g
F
A
A Feb
1
5
.TAD June20-Deo'20
5 g
510,000
1,050.000
3,430,000
&
J
J
1 1943
J July 1
A
do
do
Columbia Trust Co,, NY
do
do
Columbia Trust Co, N Y
In default
MAS
J
164,000
I
Tnternat Bank, New York
N Y, Columbia Tr Co
F
379.000
1917
A
D Dec 1959
MAN May 1 1927
N
MAN Nov'20-Nov'22 Columbia Trust Co, N Y
MAN Nov '20-Nov '23
do
do
M A
N Nov '20-Nov '24
do
do
J
A
J July 20-Jan '27
do
do
5
9.100.000
1.000
3% Central On Tr Co,
6
435,000
1897
1916
5 g
gg
22.000
Feb
1905
tot
last paid
do
do
1952
Columbia Trust Co, N Y
1943
6
Q—F
%'
May 31 19201}*
Plttsb'h, Colonial Tr Co
1 1937
20-Mar'26 N Y. Blair A Co; A Pitts
O Oct '20-Apr '27 Fidelity Trust Co, Phlla
Colonial Trust Co, Pittsb
J July 11942
MAS Sept
M A 815 Sept
5
A
A
5 g
J
A
Pittsb urgh R R.
Compensation.—$8,980,219 yearly during Federal control.
p. 169.
Jan. 1910
5
14.491,600
★ PITTSBURGH & LAKE ERIE RR.— {See 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); 48 m. 3d and 45 m. 4th track; leases Pitts.
McKeesport & Yough. (which see), 118 m.; Mali. State Line RR., 3 m.;
trackage rights Monongahela Ry.; 1. m.; Ferrona branch, Erie RR.. 24 m.;
Haselton to Youngstown, Erie RR., 3 m.; total, 224 miles.
109,
5
182,000
98,000
1.700,000
875.000
15,000
733,000
1,000
1,000
1,000
1,000
Capital Stock Oct. 1 1919 (Total Authorized $100,000,000).
Authorized.
Issued.
Reserved for Conversion.
Unissued.
stock...$19,714,300 $14,713,700 $5,000,600 (orig. guar.)
Common stock 80,285,700
22,955,400 42,261,500 (specTst'k) $15,068,800
Maryland.
5
270,000
1.000
Pref.
Federal
5g
Jan 21920
30,500,000
Text
do
Pittsburgh & Western—See Baltimore & Ohio RR
Pittsb Westmoreland & Somerset—See Cambria &
A
J |
100
20
Pittsburgh Term RR A Coal Co 1st M s fd.CPLxc*
do
J
6
RR
Text
g
6
1,000
1.000
1902
1910
UPix
Equip ctfs Ser "A" due 42 M & 43M s-a C
Equip tr ctf Ser "B" due $75,000 s-aFP.c*
M
do
6
1917
1892
1st
Pittsburgh
2,250.000
1.000.000
1917
1916
1917
do
Belt
Offloe,
do
3.959,650
1,000
1,000
1,000
1,000
1,000
1,000
1917
1899
8ide
5% Co's
Payable
are
50
1959
First mortgage gold
West
Where Interest and
Dividends
1,000
1.000
1882
Central N Y & Western RR 1st M..
$12,000,000
EaJtc*
Refunding mortgage gold $15,000,000
Car trust (receiver's) due $11,000 semi-annually..x
Pittsburgh fit Susquehanna RR—1st M g red 105
Pittsburgh Virginia Sc. Charleston—See Pennsylvania
Pittsburgh & West Virginia Ry—
Common stock par $100 a share
Prof stock 6% (p A d) cum after 1920; call 105 & div
A Feb 21920
A
Places
100
57
57
1884
RR
Ohio
Pittsburgh & Shawmut RR—Stock..
-■
First mortgage gold red 105
CE.xc*Ar*
First Lien Trust 10-year notes $8,760,000 g
—
Equipment trusts due $10,000 semi-annually y Coix
do
do
$23,000 semi-annually
Coix
do
do
$30,000 semi-annually
Coix
do
do
$13,000 semi-annually
Coix
do
do
$7,000 semi-annually
Coix
Pitts Shaw & No—Receivers' certs A A B.cail at par.
Receiver's certificates V. 102, p. 977
x
do
109
Control.
Miles
RAILROAD COMPANIES
I For abbreviations. Ac.,
APrlvate
BONDS
made with
V.
Jan. 1 -Dec. 31
Jan. l-Mar. 31
1919.
■
.
EARNINGS.—
Gross
1919.
1920.
$393,867
61,098
Net
$258,616
def.67,364
1918.
$1,115,124
def.186,506
$1,343,607
40,822
REPQRT.—For calendar year 1917 In V. 107, p. 599, showed:
Gross earnings of railroad.$l, 150,8051 Investment, Ac., income
Net, after taxes, railroadHire of equipment (Cr.)->
237,279 Bond and other interest
290,727]
Also paid 1st M. sk. fd. ($100,000),
$644,988
622,805
—
|
Balance, after interest-..$550,189
equipments ($181,470), Ac..$286,470
In the calendar year 1917 the company
and the Allegheny River Mining
(all the securities of which are owned by the railroad co.) showed com¬
earnings of $2,127,743, while the combined fixed charges were
$878,857, leaving a surplus of $1,248,886.
Co.
bined net
the Westeri
DIRECTORS.—E. F. Searles (Chairman), Theo. P. Shonts, Wm. Shlllaber (Vice-Chairman), John Hubbard, Edwin E. Tait (Pres.), Herbert G.
STOCK.—Operated In harmony with the N. Y. Central, which, Dec. 31
1918, 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., $96,150; Pittsburgh A Clearfield RR., $107,000; Lake Erie A
Gates. Dwight O. Morgan (V.-Pres.) John S.
L. G. Bonstein, A. C. Griffith (Treas. A Aud.),
Eastern
A PITTSBURGH SHAWMUT & 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 miles.
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.
RR.,
see
that
co.
The Pittsburgh A Lake Erie and N. Y. Central RR. Jointly own $3,112,'350 of the $3,959,650 Pitta. McKeesport A Youghiogheny RR. stock, and
have also advanced the co. $16,267,354.
V. 94, p. 768.
Covenants to pay New York
share of the amount
Central Lines equipment trusts of 1913. its
outstanding Dec. 31
1917 being $2,654,661.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
LATE
Per
'12.'13
DIVS.—f'07. *08.'09.'10.'11
cent
1914
to
Feb.
1920
50
35
22
15
10% yearly (F. & A.)
paid Aug. 12 1916, and simultaneous^
par for 20% ($5,997,600) new
stock, increasing outstanding amount to $35,985,600.
V. 103, p. 494.
An
U2
dividend
extra
shareholders
were
10
was
to subscribe at
Jan.
EARNINGS.—
Gross
Net
11
of 20%
allowed
l-Mar. 31
1919.
1920.
$8,555,812
884,163
-
REPORT.—For calendar year 1918, V.
Calendar
Gross
Year—Earnings.
1918
1917
Net, after
Taxes, &c.
Jan. 1 -Dec. 31
1919.
1918.
$7,581,802 $28,034,187 $32,992,272
1,258,935
4,032,344
10,627,088
Total Net
Income.x
Interest & Dividends
Charges.
(10%).
Balance,
Surplus.
★ PITTSBURGH McKEESPORT & YOUGHIOGHENY RR.—(See Map*
New
York Central Lines).—Owns from Pittsburgh to Connellsville, Pa.
£6.70 miles; Belle Vernon Jet. to Brownsville Jet., Pa.. 38.52 m.; branches
21.00 m.; leases, 2.00 m.; total, 118.22 m., of which 95.22 miles double tr'k
Erie RR. for 999 years.
Rental
of the Pittsburgh McKeesport A
A L. Erie and Lake Sh. A Mich.
the guaranties being endorsed on
The ruaranty of the stock is on the ex¬
condition that the holder shall accept par for the same on July 1
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.
Profit to lessee in 1917, $1,948,350, and
in 1910 $3,239,548, one-half payable to the New York Central RR. Co.
The 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; $3,112,350
acquired up to Dec. 31 1918.—(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.
the share certificates and bonds.
press
1934
★ PITTSBURGH & SHAWMUT RR.—Owns from Erie June., Brockwayville, Pa., to Freeport, Pa., main line, 103.04 miles; sidings, 35 33 miles.
•STANDARD RETURN," Ac.—See p. 5, also "Chronicle," V. 109. p.
Government advances to Jan. 31 1919, $844,005 ($354,005 6% loans).
BONDS AND NOTES.—In 1909 sold $4,000,000 of an
VanDerveer, J. T. Armstrong, Edgar W. Tait, W. W.
Wm. Shillaber. Jr.—(V. 110, p. 1416, 1527.)
Miles.
Leased—
Miles.
Owned—
12.00
N. Y.. to H vde. Pa_ 144.59 Clarion River Ry—
9.00
»Kasson to Hazlehurst. Pa
4.81 HydetoBrockwayvllle.Pa—
6.17
Brown's Run Branch
1.54 Wayland to Wayland Jct.,N.Y. 1.26
St. Mary's, Depot to Junction
Leased—
0.42
Moraine to Hornell. N. Y
10.38 BrockportfcoHortonCIty.Pa-.
2.41
Kersey RR. to Cardiff, Pa
12.08
Total operated—-..—..-.204.66
W ay land.
Prosser to Olean, N. Y
REORGANIZATION.—On Aug. 1
V. 101,
pointed receiver.
certificates,
1905 Frank Sullivan Smith was ap¬
V. 96,
p. 208; V. 92, p. 188;
V. 92, p. 323, 396: V.
p. 864.
101, p. 208, 213, 449;
102, p. 977; V. 105, p. 389.
On Dec. 31 1918 Pittsburgh A Shawmut
RR. (see above) held (a) a demand note of the receiver of P. S. A N. RR.
for $510,387, 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. 106, p. 930.
Loans
and bills payable Dec. 31 1918, $515,124.
The $5,836,000 ulcJ firsts ol 1899 exchanged for the bonds of 1902 have
not been canceled.
V. 75, p. 291.
'
In 1917 there were still outstanding $733,000 5% bonds of 1892 of the
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,
the priority of the lien of said bonds, or of
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
V.
9,742,766
9,544,051 4,485,940 3,598,560 1,459,552
7,634,163
8,084,180 2,122,481 3,598,560 2,363,139
11,429,331 12,700,125 4,078,777 3,299,280 5,322,068
1915
8,617,787
9,651,475 2,082,697 2,998,800 4,569,979
x In 1918 Federal compensation accrued,
$8,980,219; oth. inc., $563,832.
The total surplus Dec. 31 1918 was $23,427,615.—(V. 110, p. 971.)
LEASE —Leased to Pittsburgh A Lake
on the stock, principal and interest
Youghiogheny bonds being guar, by Pitts.
Sou. (now N. Y. Central RR.) companies,
Porter, Nathan L. Strong,
F. H. Davis. E. F. Searles,
Hershey
A.
Receiver's
109, p. 169.
32,992,273
25,621,654
24,043,163
18,196,068
Is 6%
S.
271.
authorized $12,*
000,000 of 50-yr. 5% g. bonds, callable at 105; ann. s. f., $100,000, be«.
Dec. 1914.
The bonds are secured on the 103 m. in operation; also pledg*
$11,953,000 of $14,491,600 Ref. 4s and $58,000 of $164,000 Pitts. 8. A
1st 5s outstanding, pledge of entire $3,606,362 stock and $2,019,703
5% notes of Allegheny River Mining Co.; also contract with last-named
company for minimum coal tonnage.
Total bonds Issued Jan. 1 1919,
$11,000,000, of which $3,384,000 outstanding, $616,000 hare been canceled
by sinking fund and $7,000,000 pledged as collateral (see below).
Under plan of refinancing May 1 1917, $8,760,000 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 payabls 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 Juns
1917 were held by the owners of the property, were on Jan. 1 1918 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 Ail eg. Mining Co.
The 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
2-year notes were sold to take up the latter.
The two-year Collateral Notes of 1918 were paid off on March 1 1920.
.
the
Pittsburgh Shawmut A Northern RR.
.
„
,
.
.
,
1918 the foreclosure sale of this piece of road, sought by the
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 to
protect the Impt. Co. from loss arising from the delay.
See Y, 106,
p. 190; V. 105, p. 812.
•
Protective committee for P. S. A N. bonds, Howard Bayne, Chairman:
A. N. Hazeltine. Sec., 60 Broadway, N. Y.
In April 1916 a majority of
each class of bonds had been deposited with Columbia Trust Co. as deposi¬
In
Jan.
Pacific
,
tary.
V. 102,
p.
438.
^
„
„
For causes delaying reorganization, V. 105, p. 389.
A. Austin, Chair¬
Committee to protect receiver's certificates, Charles
John A. Burns, Secretary.
V. 106, p. 930.
man;
RAILROAD
EARNINGS.—
Jan. 1 -Mar. 31
1920.
1919.
$369,928
def.63,580
Gross
Net
$242,868
def.79,362
Jan. 1 to Dec. 31
1919.
1918.
$1,125,756 $1,216,347
def.335,096 def.490,006
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
operations (after deducting $22,371 tax accruals), $512,377; other income
(net), $403,704; interest on funded debt, $158,242; other interest charges,
$26,212; rentals and other fixed charges. $12,150; net loss, $305,277.
Acting Pres. and Reoeiver, Frank S. Smith, 60 Wall St.,
See director!
of PltteTA
105. p. 389. 812; V. 106, p. 190 , 930.)
Sbiwmut^above.—(V
of
PITTSBURGH & SUSQUEHANNA
Nor.
^
^
RR.—(V. 108, p. 235, 1937.)
PITTSBURGH TERM. RR. & COAL
CO.—See Pitts. A W. Ya. Ry.
VIRGINIA RY. (THE).—Owns road ex'
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 $14,000,000 stock
and $3,800,000 1st Consol. M. 4}*s of 1905 of Pittsburgh Terminal RR. A
Coal Co., with (a) its equity in 15,000 acres of coal lands in Allegheny and
Washington counties, Pa., and (b) ownership of 98% of the $1,080,000
capital stock of the West Side Belt RR., operating a belt line from Pittsburgh
★ PITTSBURGH & WEST
tending from a connection with
to
V.
Clairton, Pa., 21 miles, and
101, p. 44.
branch of 2 miles.
V. 108,
p.
262, 1611;
ORGANIZATION.—Incorporated In Penn. and W. Va. in Jan. 1917 as
of Wab. Pitts. Term. Ry., foreclosed per plan in V. 103, p. 940;
258.
"STANDARD RETURN," Ac.—See page 5.
successor
V. 104, p. 74,
★Government
110
Debentures sinking fund gold $350,000—...... .jm
Collateral trust bonds $500,000 sinking fund
.x
Debenture bonds guar p A 1 by end by Me Cen RR
Portland Term Co—-P Un St bds (not M)
Date
Par
Amount
Rate
When
Last Dividend
Road
Pitta Youngst A Ash—Com stk $2,100,000 7% guar.
Preferred stock 7% guaranteed $9,100,000.
Consol mtge sinking fund 1% not drawn....Fjto*
First General mortgage $15,000,000 goldsf-.Cejto*
Portland A Rochester—See Boston A Maine RR
Portland & Romford Falls RR—Stock $1,000,000—
Portland & Rumford Falls Ry— Stock 8% guaranteed
Cons (now 1st) M $1,000,000 gold.
OB.zc*
Bonds
Value
Outstanding
%
Payable
and Maturity
$100, $2,100,000
138
138
123
138
7
9,089.000
1,538.000
4,717,000
5
100
1,000
1.000
1887
1908
100
mm-m
mm
AAB est
New M $10,000,000 gold guar $805,000 are 5%
(text) ...............................xc*Ar*
*21
Port Reading—1st M g guar by old P A B_.PeP.xo»&r
Potom Fred & P—1st M g red 105 since Dec '09-PeP.
38
32
Potosl & Rio V—1st M $15,000 p m call 110 G.xc*
Providence A Springfield—See New York New Haven AHar
Providence Terminal—See New York New Haven A H artfor
51
Providence A Worcester—Stock (10% rental).......
First M (ref) cur $1.500,000 (V 63, P 1064)
51
xo*
Pueblo Union Depot A RR—First mtge ext call par In
1920
2-59
Mpjto
Quebec St Lake St John—1st M deb stock sruar
278.9
Railroad Securities—Stock common $10,000,000—
Preferred stock 4% cumulative $10,000,000......
Ill Cent stock int certfs cum gold Ser A red 105-U s-x
Raleigh A Augusta—Raleigh A Gaston—See Seaboa rd Air
43
Raleigh & Charl—1st prior llenlbds g red text guar jko*
Consol mtge bonds $1,000,000 g guar red text
43
xo*
ser
1,000
500 Ao
600 Ac
1897
1904
1915
'
1911
1891
1909
1893
4
F
4
J
4
500.000
300.000
300,000
"~i"665
'87-*89
Pennsylv
RR Co, N
Y
do
do
Portland, Me
1,000,000 See text See text See text
May 1 1920 2% Portland, Me
8
Q—F
2,000.000
Old Colony Trust, Boston
MAN Nov 2 1926
4 g
867,000
F
A
A Aug 1 1927
Portland, Me
4 g
350,000
100
1896
96.61
MAN Nov 1 1927
J
A
D June 1 1948
4 e
Places Where Interest an#
Dividends are Payable
June 1 1920 IX Treasurer, Pittsburgh
do
June 1 1920 \%
do
Q—M
Q—M
7
[VOL. 110.
Control.
Miles
RAILROAD COMPANIES
IFor abbreviations, Ac., see notes on first page}
»
/^Private
RAILWAY STOCKS AND BONDS
Contract.
J
A
1.000
1,000
1.000
do
.
*29 Portland, Me and Boston
g
J
A
A
J July 1 1961
J Jan 1 1941
N Y, Boston A Portland
J
t g
J
A
D June 1 1949
A
&
O See text
PennCofor Ins, Ac, Phila
See text
6 g
618.000
100
do
1 1924-34
D June 1 1935
J J A J 1927 to
g
5.305,000 4A 5
5
1,500.000
360,000
1,000 Ac
A Feb
A
&
3,500.000
1,600.000
Reading Terminal, Phila
tford
d
mm
m
m
1897
1.000
1889
1912
1,000
100
1,000
1902
Line
Q—M
A
4
A
Mar 31 '20. 2X Checks mailed
RI Hosp Tr Co, Prov, R1
1 1947
O Oct
Metropolitan Tr Co, N T
6Hg MAS Sept 1 1921
London and Toronto
J
A
J Perpetual
July 2 1906 2 H Checks mailed
do
Apr 1 1914 2%
J
A
4 g
J Jan 11952
Office, 165 B'way, N Y
320.000
4,359.075
3,486,420
1,936,900
8,000,000
TOO
—
10
4
Ry.
350,000
4g
200,000 See text.
200 Ao
200 Ac
1906
1906
o
F
A
A Feb
11956
F
A
A Feb
Baltimore, Tr Co
1 1956
do
.
Md
do
STOCK.—The new pref. 6% (p. A d.) stock wil lb© cum. after Jan. 1
1921; It Is subject to redemption on 90 days' notice at 105% and dlvs.
on N. Y. Stock
Exchange in 1917.
V. 104, p. 1490.
Dividends on pref. stock Sept. 1 1917 to May 31 1920, both Inclusive,
6% p. a. (1)4% Q.-M.).
An Initial semi-annual dividend of 3% was paid Dec. 31 1917 on the
$14,000,000 stock of the Pittsburgh Terminal RR. A Coal Co., a subsidiary,
and a further dividend of the same amount was paid June 1918; also in
Aug. and later, quarterly payments of IH% (($210,000) each.
V.
108^ p. 262. The Pitts. A W. Va. Ry. Co., as sole owner, received the
entire amount.
V. 106, p. 296,1689.
"ADVANCES" AND "STANDARD RETURN." Ac.—See page 5.
The company refused the six months' extension of the Government guaranty.
BONDS, Ac.—The new company has made no bonds.
The undisturb ed
obligations include: Pitts. Term. RR. A Coal Co. 1st M. 5s of 1902. due
July 1 1942 (see V. 105, p. 1618); $3,430,000 guaranteed by West Side Belt
RR. (V. 78, p. 703); West Side Belt RR. 1st M. 5s, $379,000.
Equip, certificates West Side Belt RR., V. 102, p. 1164; V. 104. p. 1265.
sur.,
Both stocks were listed
«
.
Jan" 1-Mar. 31
„
EARNINGS—
Gross—
Net
—
1920.
1919.
Jan. 1-Dec. 31-
1918.
1919.
$458,232
$320,935
$1,452,608
$1,800,146
--j.def.lll,899 def.l47,803t def.542,609 def.125,235
REPORT.—For cal. year 1919, V. 110, p. 1974 (incl. W. 8. Belt):
Year 1919.
Year 1918.
9 Mos.'17.
Year 1916.
See "x"
$1,927,662
$1,907,418
\ See "x*
Net, after taxes
J
663,218
689,506
Div. P. T. RR. A Coal Co
$280,000
$840,000
420,000
Gross earnings.....
Misc. (less taxes, Ac., in
1918),——..;
Gross income
Interest, Ac
-
Dividends
224,328
312,571
111,313
x$525,355 x$l .064,328
314,708
(6%)525,355
(6)543,363
$1,422,077
$774,531
337,369
245,355
177,722
(3)273,000
Balance, surplus.—..
x$206,257
$971,355
$437,162
x No contracts having been signed fixing the amounts to be paid by the
u. S. RR. Administration for the use of the two
roads, the company for
1919 and 1918 reported only its "other income" (exclusive of such compen¬
sation) with charges, Ac.
CORPORATE OFFICERS.—W, H. Coverdale, Chairman of Board,
N. Y.; H. E, Farreil, Pres., Pittsburgh; W. H. Coverdale, V.-Pres.; H. O.
Moore, Sec, A Treas.; Arthur H. Van Brunt, General Counsel, and J. J.
O'Brien, Asst. Sec., New York.
Directors.—W. H. Coverdale, Haley Fiske.W. R. Nicholson, J. B.
Dennis, Richard Sutro, Eugene V. R. Thayer, Walter L. Haehnen, George
P. Smith, Ernest Stauffen Jr., A. S. Wing, Arnold L. Scheuer, H. E. Far¬
reil, Joseph Walker Jr.—(V. 110, p. 1089.)
★ PITTSBURGH YOUNGSTOWN & ASHTABULA RY.—Owns Kenwood,
Pa., to Ashtabula Harbor, O., 99 miles; NUes to Allianoe Junction, O., 24
miles; Homewood 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 also
the $2,100,000 common.
Leased to the Pennsylvania Co. for 999 years
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 as may be
wttefactory to the lessee.
On Jan. 1 1918 lease was transferred to Penn.
RR. Co. V. 90, p. 915, 1364; V. 92. p. 1243.
.
A9^££*"~FIr8t Gen.mtge. bonds of 1908, $15,000,000 auth.,
of which
$4,316.0001 outstanding. $283,000 having been canceled by sinking fund.
Commission m May 1919 granted authority for issue of
Tne Ohio P. U.
^.OOOadditionaUO-yearbonds.
V. 108,p. 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.
EARNINGS.—In 1918, gross, $9,771,702;
net, $864,345; inborne from
lease of road (Federal
compensation), $1,038,447; interest. Ac., $255,218;
pref. divs. (7%), $636,230; com.divs. (7%), $147,000.—(V; 108, p. 2434.)
& RUMFORD FALLS RR,—Leases for 1,000 years from
April I 1907 the Portland A Rumford Falls Ry. and the Rumford Falls A
Rangeley Lakes RR.f together extending from Oquossoc, Me., to Rumford
Junction, 94 miles,withbranchto Llvermore Falls, 10 miles; total, 104 miles
interest on bonded debt of two companies and 8% on
$2,000,000 stock of P. A R. Falls Ry. and 2% on $300,000 stock of the R F.
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.
Divi¬
dends. 6% per annum since 1907.
Of the $2,717,000 bonds of the R. F. A
® k*
RR; and P. A R. F. Ry., as above, $438,000 were in sinking funds In
1919; debentures of 1915, see V. 102. p. 773.
★ PORTLAND TERMINAL CO.—Owns railroad property In the cities o1
Portland, South Portland and Westbrook; sub-leases from Maine Central
the
property belonging to the Portland A Rumford Falls RR.
and
A Ogdenshurg Ry*
Furnishes terminal faollltles at Portland
passenger
and
freight stations,
wharves,
coal-discharging
Portland
(including
81ants, shops and yard leases 8.87 miles of track; 2d, 3dand4th tracks Maine,
23.43 miles and facilities) for the Maine Central A Boston A ownsd.
wns
12.21 m.; leased, 4.24 m.: yard tracks and sidings .owned. 56.71 m.; leased.
12.53 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, $
1,000,000, owned by Maine Cent.
BONDS, ETC.—The Boston A M. andMaine Oent. 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
fuar. 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., Moiris McDonald;-V.-P. A Gen. Mgr., D. O. Douglass,
land. Me.—(V. 107.
p. 2188; V.
Port
108, p. 2023.)
A PORT READING RR.—Owns 21.16 miles of road, completed Sept. 1892
from Port Reading Juno., N.
J., to coal piers on Staten island Sound; sid¬
ings and laterals, 57.83 miles; total, 78.99 miles.
Capital stock authorized, $2,000,000; par, $100, ail owned by Reading
Co., $1,555,000 being deposited under its general mortgage or 1897 ana
$440,000 under Its Jersey Central collateral mtge.—(V. 55, p. 680; V. 110,
p. 2193.)
A POTOMAC FREDERICKSBURG & PIEDMONT RR.—(3 Ft. Gauge.)Fredericksburg to Orange. Va.. 37.6 miles.
Stock auth,, $1,460,000: out
June 30 1918, $446,600; par, $100.
Of the first gold 4s. $300,000 is re¬
served for Issue on vote of stockholders.
V. 89. D. 470.
For year ending
Dec. 31 1918, gross, $67,097; net income, $23,883; charges, $15,900; bal..
$7,983.
In 1917, gross, $59,414; surplus after charges, $4,824.
Pres., Geo. W. Richards, Fredericksburg, Va.; Sec., Gilbert W. Sheldon.
Office. Fredericksburg, Va.—(V. 89. p. 470; V. 95, p. 1123.)
POTOSI & 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
on
the
company's bonds which became due on Oct
1 1914 and subse¬
The principal, amounting to $600,000. of which $78,000 are
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 rlgnt
of prior redemption.
Depositaries for assenting bonds, V. 107, p. 1193.
8pencer Trask A Co., N. Y., or Isaac Jackson, Esq., of 50 Congress 8t.,
Boston.
President, George Foster Peabody, N. Y.—V. 107, p. 1193.
quently.
held In the sinking
★ PROVIDENCE & WORCESTER RR.—Owns from Providence, R. I„ 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
99 years at 10% per annum on stock to N. Y. N. H. A H,—(V. 105,p. 2457.)
★ PUEBLO UNION DEPOT St 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 roads,
Denver A Rio Grande, Atch. Top. A Santa Fe, Colorado A Southern.
Missouri Paoifio and Ohio. Rock Island A Pacific, which contribute 14.000
yearly to a sinking fund to redeem bonds.
Latter were extended from
Sept. 1 1919 to 8ept. 1 1921, int. rate being raised from 6% to 6H%.
Operations are all at cost for benefit of tenant lines.
Operating expenses for
year ending Dec. 311917, $59,602; int. and taxes, $29,785; outside revenues,
$23,511; balance charged to tenant lines, $65,876.
Sec. A Treas., A. 8.
Booth, Pueblo, Colo.
Gen. Mgr. under U. 8. Govt., James Russell,
Denver, Colo.—(V. 109, p. 888.)
QUEBEC CENTRAL RY.—(V. 107,
p.
1670.2094; V. 109,
p.
1793.2072.)
QUEBEC & LAKE ST. JOHN RY.—Owns Quebec, Can., to Roberval
on
Lake St. John, 190 miles, with branches Chambard to Chicoutini, 51 m.,
and La Tuque Jot. to La Tuque, 40 m.; Gasford branch, 5)4 m.: total,
280)4 m.
v. 94, p. 279, 1186.
Controlled by Canadian Northern Ry.
V. 08. p. 1600, 1607.
8tock outstanding. $4,524,000.
As to debenture stock see Canadian Northern Ry. (bond table) above
and also
see
V. 94, p. 279, 1186.—(V. 96. p. 361.)
QUEBEC MONTREAL & SOUTHERN RY.—Owns St. Constant Jet.
to main line, Naplerville Jet. Ry., Que.. 1.40 miles; St. Lambert to Fortiersville, Que.* 109.69 m.; Bellevue Jet. to Noyan Jet., 81.09 m.; total,
192.18 miles.
Naplerville Junction Ry., also owned by Del. A Hudson,
operates from Rouse's Point to St. Constant Jet., 27.06 miles.
Stock authorized, $2,000,000; outstanding. $1,000,000. all owned by the
Del. A Hudson.
Certificates of indebtedness, $6,000,000.
For year end¬
ing Dec. 31 1918, gross, $786,129; expenses A taxes, $895,527; other Income,
$253,421; charges, $258,561; deficit. $14,538.—(V. 106, p. 2346.)
"QUEEN A CRESCENT."—Common name for Cin. N. O. A Texas Pac.
Ala. Gt. Sou., Ala. A Vicks. and Vicks. Shreve. A Pac. lines.
ARAHWAY VALLEY RR*—Owns Aldene. N. J., on Central RR, of New
jersey, to Roselle Park on Lehigh VaMey RR., and Summit, on the Del.
Lack. A West., 10 miles.
V. 83, p. 380.
Operated under lease by Rahway
Valley Co. Stock paid in, $9,900; loans payable Jan. 1 1917, $63,774.
Stock auth., $400,000; outstanding, $213,200.
Bonds auth., $400,000
1st 25-year 5S due July 11931.
Of the bonds, $328,000 with $164,000 stock
were
at last accounts deposited as collateral for notes payable.
For
calendar year 1916 the Rahway Valley Company reported gross earnings
$48,163; net from operation, $6,534; interest, Ac., $11,173; bal., def. $4,649.
In 1914-15, gross, $32,849; net, $2,165.
Pres. of R. V. Co., C. J. Witten¬
berg. Springfield. N. J.—(V. 90, p. 699.)
RAILROAD SECURITIES CO.—Owns $9,200,000 Illinois Central
stock, of which $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
unless the option to call at 105 is In meantime exercised. V. 74, p. 937,1039.
Union Pacific on Dec. 31 1917 owned $3,486,420 com. and $1,936,900
pref. stock.
Dividends on pref., 1902 to Apr. 1 1914, both incl., 4% yrly,
(paid A. AO.); none since.
V. 99. p. 1131.
On com., 3H%» 1905; 1906.
2J4%.—(V. 99,
p.
1131.)
★ RALEIGH & CHARLESTON RR.—Owns Lumberton, N. Oj. to Ma
rion.S. C., 43 m.
V. 81, p. 1241, 1437.
Owns stock of Marion A South
era RR., 19 miles.
Stock outstanding Dec 31 1917, $574,500, all owned
by Seaboard Air Line Ry.
V. 95* p. 892.
Of the bonds (Baltimore Trust Co., Bait., Md., trustee), $350,000
are 1st mtge. prior lien 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
call at
par.
Of the consols, $350,000 are reserved to retire the prior liens
and $450,000 for future extensions and improvements.
The Seaboard Air
Line guarantees all of the bonds.
V 95, p. 892.; V. 83, p. 97.
APrivate
RAILWAY STOCKS AND BONDS
Mat, 1920.] *£S«ot
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rate
When
[For abbreviations, &c;t set notes on first pageJ
Road
Bonds
Value
Outstanding
%
Payable
Raleigh & Southport Ry.—See Norfolk A Southern
Raleigh & Southwestern—See Chesapeake A Ohio.
Rapid City Black Hills & West—IstMred textEq JtoAr
Raritan River RR—Stock $1,000,000 auth
First mortgage gold
zc
Reading Belt—1st M guar p A i
----kv
Reading & Columbia—1st consol M g——PePkv
Debentures
1909
23
8
500
100
1889
1900
1,000
1,000
1912
50
Reading Company—Common stock
-_
50
First preferred stock 4% non-cumulative
50
Second preferred stock 4% non-cumulative
Text
Gen M $135,000,000 g s f not subj to oall.Ce.xo* Ar
1897
1,000 Ao
1901
1,000
Jersey Central coll trust mtge g red 105_PeP.xo*Ar
1907
Philadelphia Subway M $3,100,000 gold—PeP kv
Wllm & Nor stk tr ctfs g rea 105 (V 72, p 340) GPxr
1900
""Todo
1916
Equip trust Ser F due $300,000 s-a
PeP
do
do
Ser G due $450,000 s-a
1917
PeP
Old Phila & R RR (now Ry)—Bonds Underlying Gen eral M ortgage or 1897.
Delaware River Terminal purch money M gold__xo*
1892
1,000
Delaware River Term ext purch money M gold_xo*
1892
1,000
148
1868
1,000
■Mortgage loan of 1868 gold extended 1893-_kvoAr
325
1873
■Imp M gold ext '97 (see V 65, p 870) g- PeP.kvoAr
■Consol mortgage 5s ext 1897 (V 65, p 278)
327
1882
500 Ac
kvoAr
■Terminal mortgage gold (see V 64, p 85)__kvo*Ar
1891
1,000
*94-'98
■Philadelphia City Subway Loan gu $3,000,000. kv
■ Philadelphia A Reading Coal & Iron—
■Col s f gold loan (RR) guar extended in 1902 .kv
1892
1,000
See text
g F
1,295,000
4 g
A
May 1 1939
See text
Apr 1 1920, 2M Jersey City
Jan
11939
New
Sept 1 1950
Jersey Title GftTi
Reading Terminal, Phila
Mch 1 1962
Deo 1 1917
Interest not paid
do
May
June
13 '20 2% Reading Terminal, Phila
1 '20 1%
do
do
do
do
19201%
1 199?
f J P Morgan A Co. N Y
1 1951
1
and Phila
July 8
Jan
Apr
1 1957
When drawn
&
J
&
500,000
534.000
2,696,000
9,328,000
5,767,252
8,500,000
493,500
3 M
J
A
930,000
4g
F
A
Glrard Trust Co; Phila
MAN May 20 1942
Co an d Readln g Coal A Iro
J
A
Philadelphia
A
J
do
July 11942
O Oct
1 1933
do
do
do
do
-
Prov Life A Trust. Phila
City Treasury
May 1 1941
J To 1922
A Feb
do
Reading Terminal, Phila
O Apr 1 1947
MAS Moh 1 1937
Q—F
do
do
Guarantee Trust Co, Phb
A
t g
*
5
n
J July '20-JuIy *26
J July'20-Jan '27
A
A
do
Mch 1 1962
J
4 g
Where Interest and
Dividends are Payable
A Feb
Q—M
\l
Places
Maturity
3,900,000
6.300,000
-
Mote.—General mortgage of 1897 requires that the R eadtag
Excludes $783,000 in treasury Reading Oo Dec 31 1918
and
$'
Todo
1877
c
Debentures
Last Dividend
5 e
350,000
MAN
840,000 10inl919
Q—J
J
A
400.000
J
750,000
MAS
4 g
850,000
MAS
J
6
1,000,000
&
D
M A
5
150,000
S
70,000,00u 8 In 1919
Q—F
4
28,000,000
Q—M
4
42.000,000
Q—J
J
A
J
93,717.000
48
A
4 g
122,217,000
A
O
1912
Ill
Control.
1 1932
Reading Term Bldg, Phil
Co shai 1 be respo nslble for all old
bonds marked
above
s
t
Year ending Dec. 31
1918 (incl. Marion & Southern RR.), gross,
$90,-
158; net, after taxes, $14,742; interest, &c.f $5,510; bal., $9,232.
Pres..
W. J. Harahan, Norfolk, Va.; Sec. & Treas., Robert L. Nutt, 24 Broad
St., New York.—(V. 95, p. 892.)
★ RAPID CITY BLACK HILLS & WESTERN RY.—Owns Rapid City.
Dak., to Mystic, 35 miles.
Successor in 1909 of Missouri River &
V. 88, p. 1254.
To April 1 1919 contract for
So.
Northwestern foreclosed.
Government operation not finally executed,
annual compensation agreed
In Oct. 1919 only $7,000 bad been received to date on
Stock authorized, common, $450,000, all out¬
standing—pref. 5% cumulative, $250,000, of which $233,000 pref. out¬
standing; par, $100.
Stock in 5-year voting trust.
Of the 1st 30-year 5s
(total $750,000 auth.), 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; none paid to Oct. 1 1919.
For year ending Dec.
31 1918, gross, $83,801; net, $3,120; int., rentals, Ac., $19,809; bal., def.,
$16,689.
In 1917, gross, $87,193; bal., sur., $2,364.
Pres., Geo. E.
Macomber, Augusta, Me.; Sec., Charles E. Hoyt, South Norwalk, Conn.
upon,
$15,494.
account
of compensation.
RIVER RR.—South Amboy to New Brunswick, N. J., 13
miles; branches, 10 miles; total, 23 miles.
The New Jersey P. U. Com
mission in 1918 approved the plan to issue $160,000 capital stock on account
of additions, &c., made and to be made.
V. 107, p. 2377, 2477.
None
A RARITAN
issued to May 1920.
DIVS. (%)—
(Cal. years).
'08. '09. '10. *11 to July '15. '16.;
5
5M
8
8% (J. & J.)
9
1917 to Apr. 1920.
yr!y(2M% Q-J)
10
Dec. 1916, 8% extra; 1917, Dec., 12% extra; 1918, Sept. 3,15% extra.
Year ending Dec. 31 1919, gross, $536,430; net, after taxes (tncl. war
taxes), $162,353; int. on bonds, $20,000; misc. charges, $1,840; div. (10%),
$84,000; balance, $56,513.
Pres., Wm. G. Bumsted; Treas., Chas H.
Sisson.—(V. 101, p. 289; V. 107, p
2377, 2477.)
The "Reading Company" in the reorganization acquired the securltf
holdings, real estate, equipment, Ac., of the old Phila. A Reading RR. Co.;
$20,000,000 stock and $20,000,000 bonds of the Phila. A Reading
Ry. and the $8,000,000 stock of the Coal A Iron Co
The right to mine
coal, given by charter. Is protected by State Const, of 1873
V. 82, p 393
The U. S. Supreme Court on Dec. 10 1912 in the Govt, suit (1) dismissed
the charge of combination and conspiracy in restraint of trade against the
company and other anthracite coal companies and coal-carrying roads:
(2) held that the Temple Iron Co. is an illegal organization and should be
dissolved; and (3) also held Illegal the arrangement under which the coal
companies pay the Independent operators for coal at the mines 65% of sell¬
ing price at tidewater. See V. 95, p. 1684. 1652; V. 96, p. 280, 554. 1090.
1657.
The U. S. District Court on July 31 1915 held that the company and
its subsidiaries, had not violated either the Sherman Law or the commodi¬
also the
ties clause of Commerce Law.
1119; V. 101,
p.
p.
The Government filed
85, 929, 1465, 1807; V. 96,
p.
an appeal.
V. 103,
1425; V. 97, p. 666; V. 99,
&.overnment's U. S. Supreme Court on April 26 1920 the company and cer¬
821. The charges of illegal combination against sustained most of the
tain of its railroad and coal subsidiaries,
V.
and ordered their dissolution.
See
110, p. 1816.
Property of Reading Company, $322,159,336 Dec. 31 1919.
Railway equipment leased to Railway Co
$43,890,419
Real estate not appurtenant to railroad
16,721,423
Sea tugs and barges leased to Railway Co
4,331,267
Leased equip., $20,089,814; uncompleted equip., $171,091
20,260,905
P. & R. Ry. stock, $42,481,700 (auth. issue increased to $45,000.000 in April 1911) and bonds, $20,000,000, par
62,481,700
Philadelphia & Reading Coal & Iron stock at par
8,000,000
Miscell. securities, incl. $14,504,000 stock Cent. RR. of N. J— 88,912,552
Mortgages and ground rents at par
251,016
Int. in Phila. & Reading Coal & Iron above securities owned-- 69,919,770
Claims against other companies, Ac
9,740,777
Cash and current assets
7,390,283
-
★ READING BELT RR.—Belt railroad 7.78m. in length around Reading
Pa.; 2d track. 6.38 m. V. 71. D. 751.
Stock, $750,000. all owned by
Reading Company.
Road leased to Phila. A Reading Ry. for 999 years
on stock.—(V
74, p. 1090.)
Property of P. & R. Coal & Iron Co., $102,258,159 Dec. 31 1918.
$61,572,924
from July 1 1902 for Int. and taxes and 4%
Coal lands owned, with Improvements, &c
Timber lands owned, $843,828; New York and Eastern depots,
★ READING & COLUMBIA RR.—Owns Columbia to Sinking Springs, Pa.,
40.24 m.; branches, 13.81 m.; operates Marietta June, to Chickiee, 6.16 m.;
total operated, 60.21 miles.
Stock, $958,373 (par $50), of which $788,200.
$893,247; Western depots,
$2,016,792; ooal on hand and
other current assets, Ac., $19,190,601
Stocks and bonds of (and loans to) companies controlled, nearly
all of which are collateral for loans created prior to 1896---—
$698,000 1st consol. 4s and $1,000,900 debentures of
$150,000 new debs, of 1962, are owned by Reading Co., all
except $3,200 stock and $653,000 1st M. bonds deposited under Its general
mortgage.
The 1st Consols of 1912 are guaranteed p. & i. by the Reading
Company.
V. 93, p. 1789; V. 94, p. 632; V. 95, p. 833.
Year 1918, gross,
$536,903; net def., $20,767; 1915-16, gross, $37,011; net, $7,573.
1914-15,
gross, $367,791; net, $53,118; other income, def., $3,825; int., taxes, &c.,
$175,837; impts., $12,091; bal., def., $121,365.—(V. 94, p. 632.)
with
together
and
1817
READING
Phila
The
COMPANY—★PHILADELPHIA
&
READING
RY.—
Reading Ry. operates in connection with
the
great
A
anthracite coal 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 Hazleton and Willlamsport on the north and westerly
to Harrisburg, Sblppensburg and Gettysburg, In Pennsylvania, and Wil¬
mington, Del., on the south; also easterly In N. J to Atlantic City and Cape
May on Atlantlo Ocean and to Port Reading on N. Y. Harbor, viz.:
Miles.
East Trenton RR
3.1
Reading
7.8
128-61
Lines owned in fee—
Philadelphia A Frankford RR*
Ac., and
Phil, to Mt. Carbon,
branches
-
Belt
RR
Allentown Terminal RR
Mount Carmel RR
Lebanon Valley branch
Lebanon A Tremont branch--
61.03
Mahanoy & Sbamokin branch-
90.58 Phila. Wllm. & Bait. RR
53.27 Plymouth RR
1.80 Swedesford Bridge Co
51.46
Schuylkill A Susq. branch
West Reading branch
Total (2d track, 187
miles)-.386.75
...
3.3
5.8
10.0
8.9
.3
Tot. leased (2d track 349,5)-705.4
Entire stock owned—
Lines leased—(See each Co.).
2.6
Miles
12.8 Chester A Delaware RR
5.7
35.8 Rupert A Bloomaburg
1.6
Allentown RR*
4.4 Mlddlet'n & Hummelst'n RR-.
6.6
Little Schuylkill Nav. A RR.*- 31.8 Tamaqua Hazelton A N. RR._ 10.4
65.3
Mine Hill A Schuy. Haven*Colebrookdale
East
RR
-
Pennsylvania RR*
—
—
New York Short Line
-
Mt. Carbon A Pt. Carbon RR.*
Mill Creek A Mine H. RR.*
9.4
2.6
6.1
17.0
Schuylkill Valley Nav. A RR.*
East Mahanoy RR.*
11.3
Sbamokin Sun. A Lewiston*— 32.1
Phila. German. A Nor. RR.*— 21.7
Hill RR.*
Chestnut
4.0
—-
RR.*
Norristown June. RR
Catawissa
Norrlst.
—
A Main Line Conn
North Pennsylvania RR.*
Delaware A Bound B. RR.*
Schuylkill A Lehigh RR.*
Phila.
Har.
A Pitts.
RR.*
Wilmington A North. RR.*-Pblla.
A Reading Term
RR.
Total system Dec. 31
104.0
0.3
0.6
88 1
31.0
47.6
45 8
90.4
1.2
Controlled—
Central RR. of New
Jersey
635.0
Reading A Columbia RR*
60.2
North East Penn. RR.*
25.6
Phila. A Chester Valley RR.*.- 24.0
Atlantic City RR. A branches. 170.2
Catasauqua A Fogelsviile RR**31.7
Gettysburg A Harrlgburg Ry.* 41.6
Perklomen RR.*
—
38.2
Phila
Newtown A N. Y. RR.*_ 22.2
Reading RR *
21.2
Pickering Valley—-....
11.2
Stony Creek RR
10 2
Williams Valley RR
110
(•See this company.)
Total controlled
——1,126.6
Port
Trackso*
34.46
1918 (second track, 876.29 miles)
From the company's docks at the extensive terminal
2,219.01
at Port Richmond
line of steamers and barges In coastwise coal traffic and pro¬
vides berths, with elevators, grain-drier and accommodations for several
trans-Atlantic
steamship lines,
new
ore-unioader
and concrete
dock
it operates a
capacity 600 tons per hour.
See V. 64,
p.
709
-
9.919,51
7,821,25
SINKING FUND.—Whenever, In any year, a dividend Is paid on tbe
stock, an amount must be paid simultaneously to the trustee equal to 5
cents per ton on all coal mined
by the Coal A Iron Co. during the preceding
year. It the aggregate of dividends so declared exceeds that sum; otherwls *
such lesser sum as shall equal the
dividends so declared.
Under this pro¬
purchased and canceled a*
$468,000: 1912. $517,000: 1913
$516,000; 1914, $537,000; 1915. $480,000; 1910. $449,000; 1916-17, $500,OOf
1917-18, $637,000; 1918-19, $622,000.
vision general mortgage 4s (not callable)
1900 to 1910. $4,860,695; 1911,
were
follows:
STOCK.—Reading Co. has the right to convert the 2d pref. stock
§ae-half first pref. and one-half common stock.
See V. 64, p. 709.
DIVS.—
First
'01. '02. '03. *04. '05.
pref—%f 4
Second
pref-%(
0
Common—%l 0
3
4
0
0
0
4
1H 4
0
*06-'09. '10-T2.
n»o
'13 to 2d quar 20
4
4 yrly. 4 yrly.
4 yrly.
4
3M
4 yrly. 4 yrly.
4 yrly. 6 yrly.
4 yrly.
8 yrly.
(Q—M)
(Q—
(Q— F>
BONDS.—The General Mortgage 4s (abstract, V. 64, p. 612) are secured
by a 2d mtge. and pledge of all properties and securities embraced In the
reorganization, and also all other property acquired thereafter by use of tbe
new bonds.
The mtge. is also subject only to the boads for which reserva¬
tion Is made, based upon properties or securities of all the lines of railroad
owned, including the Phila. A Reading Ry. Co. proper, 352 m.; various
leasehold lines, 642 m.; all the property of the Coal A Iron Co., or the
securities thereof; a large amount of rolling stock, Ac.
Also a first lieD
upon a majority of the stock of various companies owning 453 miles of rail¬
road, and also on various bonds—list in V. 64, p. 613, 709.
Of the $135,000,000 4s of 1897, there were on Dec. 31 1918 $28,918,000 reserved to take
up old bonds, $8,998,000 had been canceled by sinking fund, $3,367,000
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
V. 92, p. 323; V. 108, p. 2324Improvement mortgage 6% bonds of 1873 due Oct. 1 1897 were extended
4% for 50 years from April 11897, 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 tor $5,766,500 were also extended at 4% till March 1
1937, the Reading Co. and the Coal A Iron Co. becoming responsible.
See
V. 65, p. 870, for contract
V 65. p. 152. 870
Terminal mortgage bonds, see V 04. p. 85, and V. 60, p. 732.
For terwyear sinking fund loan see Jan. 1895 "Supp."
The bonds were in
1902 oxtended 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. 206,
The Philadelphia Subway Loan of 1894-98 is payable after 10 years from
date In 20 annual Installments, to secure which $o00,000, bearing Interest,
bas been deposited, and $100,000 yearly Is being set aside In monthly Inat
§ ailments. See V. 58, p. 1110;Ms of 1907 950; issuablep. 881; V. 71,time up
V. 62. p. are V 63, from time to p. 758.
allway Co.'s Phila. Subway 3
to
total of $3,100,000 to reimburse the company for
installments of onepaid; entire $2,437,000 Issued was in
V. 81, p. 1437; V. 85, p. 731.
The Jersey Central collateral trust bonds ($23,000,000 present issue) are
■eoured by deposit of $14,504,000 Cent. RR. of N J. (cost $23,200,000) of
the $27,436,800 stock outstanding, $1,495,000 Perklomen stock and $440,000 Port Reading RR. stock, the remainder of the $45,000,000 auth. being
reserved to acquire tbe minority stock of the Central Co.
They are callable
a
half of the city loan and Interest as
P. A R. Ry. treasury Dec. 31 1917.
on any
ORGANIZATION.—The Philadelphia A Reading RR. (chartered Aprk
and the P. A R. Coal A Iron Co. were sold in foreclosure Sept. 2i
4 1833)
1896 and reorganized per plan in V. 61, p. 1109.
Liberty Loan bonds ($0,819,712), Ac
22,944,468
int. day at 105 A Int.
See abstract. V. 72, p. 487:
V. 73.
p.
847.
Equipment trust Series F, dated Jan. 1 1910, covers equipment described
In V. 107, p. 697.
8eries G covers equipment mentioned in V, 106, p. 1786.
$7,200,000 sold in Jan. 1919.
V. 108, p. 684, 2324,
[VOL. 110
BONDS
RAILWAY STOCKS AND
112
Jii.wi.ni,,.,. yf-I,
MAP
OF
.
Rapids.
LAKE
THE
Deuison
Lansing
MICHIGAN
-Kalamazoo'
gtJosjepi)
CHJCAGb
Itu'rgis
MICHIGAN;C|Ty
"^KanTcakee'
)galj»poi
(oomiugtW
tvana)
WlFrenkfort
Batton«l
iViiderson.
Hanuf)
Dayton
romid
(avemroirfh
ftushville
^Wallace'Jo."
^TGo8portG
JUWMXi,..
'orth Vernoi
Wilistadt'Jci
t5" WJlHamatown'
.Osceola
flnitldgbw^
Nevada
Bismarck
Eldorado!
P BURGIN
Cecilia
Springfield
■
CentraiCiwJ
Aurora
Willow
WajroMburrtf
Mammoth
'rincetoi
Spring
jwiokliflel
Boplar Bluff,
Somerset"^
'P.aducah
BurneideJ
Bowling Green
jHopkineviJ
Greenwood'
8tearn8;
Harksville
rFHriton-
Winfield^
t Martin
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layette vl| j,
Junction'
Nashvill^
EortSraith
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Hum»5bldt]
dumbit
lackson.
Bussellvijie
HARRIM^
Loudon
'artford
Wttlea:
CORINTH
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Cuhutta
Springs
Dslton
Malvern;
New
Phelps
I
Albany'fts
re^Bluff
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sou
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green.viU
sou
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Buston
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Aetrtou
V
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Winnfleld
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Opelika>l_
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Tallnlab"
"x
'Westbrool
Pwbuta
Kiinbrougb
Ferridai
any
Wa^neeboro
South
'Americus
.
Fulton
Brookhai
Pinevllie
Georgian)
Albam
Alexandria
•8t*ce
Carson
/ Pernw<
Woodvilie
Calvert
^
Brewton
Atmorej
Camilla,
^^Dothan^
'Sellersville®j
Flowaton
ACfieloustti
[Baton Roui
S.
Kinder
LakbCbat les"
Li Fayette
_\£ew
r.i
m.
Tbeodere
v.
;MOBILE
yBainbridge
fCrestview
V
*•
Cottonduic
$
QjTallahaBB^
Iberia
lPlNlsil»a
I
Schrlever
iahtchicola
RAILWAY
MAY, 1920.1
113
STOCKS AND BONDS
Rochester
Norwich
-—"i^L
'DotroU^^^^i
£ I mi
Albany
JHngtiamt<
ni
.rtford'
XUean
Scranioo,
Emporium
.Cleveland.^
WilliaTusporl
[Frauklii
Lock Haver..
1
</ /
/Foswj
V
Newark
:gur.buiy'
Ybuugstoyrn
[(E«s ton'
+ S\\
k
yJ,Rcadiug \
,
.Pittsburgh
^^aTiorp-/'/
renton
larrisburg
J-PbilaJelpMa;
Steubenville;
m
/Camden-
lambersborg
BeliaTrt
Coshocton
o-
Wheelin?
W
Hyndmafi
.Columbus
liming
igersiown
New
Martinsville
Logan
.Wasfiington
^/Marietta c
fparkersburi
Orulton
Inapolia
ChiUicoth't
Beverly
Spencer
Portsmouth
^Thb/sIhbU
ajsVille
.shlantl
7
/
J
Charleston
untiogton.
FrederloWtoi
Ch*>
o
staUD,_
/
Deepwater
Dctwtil
Mt-Sterling,
Naugutuck
Jackson
liDton
\#
PUteville'
£>6 Petersburg
iraham.
^Suffolk
tMPORIi
Csecadel
Elizal
'hcndersoi
j
7
'Mferd
\^fj£<tl}ord
^nTflooao
^90U.
JvB.ohgood /
Icston.Salei
Tsrboro
LnW«'iu-|
/i
oA
\
!£<&»>
gas#*
t10*' eo&**tLL'
Kingston
Moores1
>.
HutU,raa
Fayettc\in<r
lireSi.
Harold
STT
>tawba Jo.
kjApoMtef
~
'embroke.
Be I to n
ICbadbourn
Myrtle Beach
cSUuionfPoinf.
Laues"^
^iOiangeborg
Camak
\%* ^<3 or don
I"-—U'11,0
r*\
n
/
/
Georgetown
v
Lie
^/EfMACON^)
\A?W R\G
—a»T
UV
a
A
I
\Por^Roval'
Hardee villeA/
Meldriui
•-.
r
SAV AN MAW
^
MclDtcshnfAj
tsdowici
Worth'
tuburn/
jesu^.
,E»erctt
aj
(LDock/Jc.
-
Sparks
E.RUNSWICK
Folk-ton
LEGEND
XtiUl.aia
lasper
Madison
k]
'
WnYbUe
~TC
CreVf
Sprmge-
|;j
Southern Railway
Jacksonville
^Cincinnati, New Orleans & Texas Pacific Ry.
Alabama Great Southern Railroad.
it.
Southern
Augustine
New Orleans & Northeastern
Harriman & Northeastern
Railroad.
Railroad.
>
Railway
System
VjNorthern Alabama Railway.
Cedar
=
Dade C'
Dou ble Track.
Owned by Soutbern
Melbourne
Railway Company—leased to other companies.
Operated separately—majority
stock owned.
Other lines in which the Southern
Principal Connections.
Miami
Railway Company is Interested.
j
114
RAILWAY STOCKS AND BONDS
[Vol. 110.
★Government
May, 1920,
RAILROAD COMPANIES
IFor abbreviations, Ac., see notes
on
Date
Par
Amount
Rate
When
Last
Road
Bonds
Value
Outstanding
%
Payable
and
192
79
Dividend obligations (same dlv as common stock)..
Stock guar 7% except 519,300 guar 6%
m
•»
1871
«.
—
New bonds issued June 1
1890
82
5500,000 gold—Ce.xo*Ar
General mortgage 54,000,000
x
Washington Southern Ry 1st Mtge bonds (assumed)
Rich & Meek—First M 5315,000 gold (V 69, p 391)-_c
Richmond & Petersburg—See Atlantic Coast Line RB
Rich-Wash Co—Coll trust gold guar red 105-N.xc*Ar
Rio Grande Junction—Stock
First mortgage gold guaranteed
Cejto*
Rio Grande Southern—First M g 52,277,000 aregu-x
Rio Grande Western—See Denver & Rio Grande
Roberval-Saguenay Ry—Ha-Ha Bay Ry 1st M g~c*
Consol Ref. Mtge. S3.500.000 $35,000 per mile
mortgage
Dividend
Maturity
Places
Where Interestand
Dividends are
Payable
$100 $10,000,000
J
8
&
J
1 1920 4% Del A Hudson Co, N Y
7
1.000
MAN May 1 1921
2.000,000
do
do
100
A
D See text
1.316,900 9 In 1917 J
Richmond, Va
100
A
D See text
3,600,100 9 In 1917 J
do
100
500,400 9 in 1917 MAN
1 1918
do
4
1,000
500,000
A
O
g A
1 1940
N Y, Phlla or Richmond
Various
2.680.000
A
3H
A
O Apr 1 1943
Rlohmond
4 g
J
&
D June 1 1943
4,000,000
Sav Dep & Tr Co, Bait
4 g
M
315,000
A
1,000
N
1 1948
J P Morgan & Oo
.
1903
1903
31
■
—
1898
»
*03-*12 1,000
—
—
1,000
1,000
10,000,000
2,000,000
2,000,000
4,509,000
1^12
1.000
723.600
1915
1,000
M
5 ff
536,400
7*
70,000
555,200 See text J
&o
100
62
1889
175
1890
37
1919
18
Rochester & Genesee Val—Stock rental Erie RR
Rock Island Ark & Louisiana—See Chic R I & Pacific
Rock Island-Frisco Term—1st M gold guar Jolntly.xo*
Rockingham RR—1st M 5250,000 gold
_SBax
Rome & Clinton—Stock (rental guaranteed)
(The) Rome Watertov-n & Ogdensb—See New Yor
Roscoe Snyder & Pacific—
1st ref M $5,000,000 gold red text
—Gy
Rumford Falls & R L—Stock 5300,000-Rumford Falls A R L first mtg« gold Blnking fund-z
Mortgage, redeemable
Rutland—Stock cum 7% pref (sec text)--.—...
First consol mortgage for 53,500,000 gold-Us.zc* Ar
Ogd & L Ch 1st M 54,400,000 gold assumed _Ce.xc*
Rut-Can first M gold assumed $1,350,000--OB.xc*
Bennington & Rutland—1st ref M g ass
N .xo* Ar
Chatham A Leb Val 1st M 5500,000 g p & I guar.G
Equip trusts due $34,000 yrly (V 94,p 1250).G.xc*
do
do
due $14,000 yearly
x
Ogd Ter Co M glnt gu s f 510.000 y!y
Gc*
115
Control.
Miles
first page]
Rensselaer & Saratoga—Stock 8% guar D & TEL (end)
First
mortgage. Interest rental
to* Ar
Richmond Fredericksburg & Potom—Com stock
Consolidated
APrtvate
RAILWAY STOCKS AND BONDS
Contract.
100
1907
21.4
k
~
—
3,390.000
250,000
345.360
1,000
1910
12M
1,000
100
■
4 g
J
A
D
5 g
J
A
D Deo
4 g
J
A.J July 1 1940
\
52 William St. N Y
Maltl'd, CoppellACo.NY
6 g
J
Toronto and London
5 g
J
5 g
J
6%'18
J
New York Trust
Co, N Y
/Maltland, Coppell A Co
1 1939
&
J
&
S
July 1 1942
Sept 1 1955
A
J
July 1 1920 3% Erie RR Co, New York
Gen Tr Oo of Oan, Mont
J Jan
1 1927
New York or St Louis
&J21 July 21 1940
Safe Dep & Tr Co. Bait
J Jan 1'20
2%% By check.
A
A
R R.
Cen tral
_
1912
$1,000
U.
27
36
1897
1903
RAILWAY
1920.
Ac
100
120
1891
127
1898
1899
43 H
58
500,000
1,000 In treasury
238,000
1,000
1.000
112,000
1.000
50,000
1,000
1913
1911
1 -Dec.
1919.
by the
and 17
31
1918.
Gross
$20,525,539 $15,185,033 $72,871,823 $80,764,563
Net
691,320 def1,269,119
8,263,649
14,880,191
ANNUAL REPORT.—Report for year 1919 in V. 110, p. 1845Cal. Year
Cal.
1919.
Year
18 Mos. to
1918.
Dec. 31 '17.
Railway company—Receipts
$72,871,823 $80,769,563 $97,792,614
Expense (including railways, &c.)— 68,867,290
70,419,543
69,009,392
$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. &c...
-
Total net income
Goal & Iron
—
Co.—Receipts
Expenses
_$16.351,892 $16,570,754 $30,080,269
$56,386,939 $73,031,165
51,746,777
64,454,059
-
Net earnings
Reading Co.—Net income
Net
15,648,729
earnings all companies
Fixed charges, taxes & sinking fund-.'
Divs. on first pref. (4% p. a.)
second pref. (4% P- a.)
Divs.
on
Divs.
on common
Surplus for
(8%
year
p.
a.)
1,120,000
1,680,000
5,600,000
(all companies)
$4,640,162
16,792,951
$8,577,006
13,588,922
$38,003,877 $52,246,197
$14,538,806 $29,168,441
1,120,000
1,680,000
1,680,000
2,520,000
5,600,000
8,400,000
$15,065,071
$10,477,756
Note.—The Coal & Iron Co. report for 1919 had not been issued up to
time of going to press.
Coal Production in 1918—
Lands Owned. Controlled.
Other.
Total.,
P. & R.Coal & Iron Co. (tons) 9,066,097
481,660
2,024,303
11.572,061
Tenants
Total
(tons)
965,357
1918 cal. year
10,031,454
182,564
1,147,921
664,224
2,024,303
12,719,982
V.-Pres.t
Geo. Ziegler; Treas., H. E. Paisley; Sec., Jay V. Hare.
Directors.—E. T. Stotesbury, Joseph E. Widener. A. H. Smith, Charles
E. Dilkes Jr., Agnew T. Dice, Henry P. McKean, Daniel Wlllard, Geo. F.
Baker, Isaac Hiester.
Office, Reading Terminal, Phila.—(V. 110, p. 872,
"971, 1089. 1527, 1749, 1850.)
★ RENSSELAER & SARATOGA
Road owned—
Fort
Eagle Bridge to Rutland, Vt
LEASE.—Leased In
which, Julyl
on
Leased—
Miles.
72 Albany to Waterford Junotlon...12
15 Schenectady to Saratoga
.—22
63 Vermont Line to Castleton, Vt
7
Edward to Caldwell—
Interest
RR.—(.See Map Delaware A Hudson.)-
Miles.
perpetuity May 1 1871 to The Delaware & Hudson,
1919, owned $800,000 of stock; rental, 8%
Guaranty on stock. V 66. p 773-
on
the stock and
bonds.
A RICHMOND FREDERICKSBURG & POTOMAC RR.—Owns from
Richmond, Va., to Quantico, 77.01 miles, double-tracked; James River
branch, 3.56 m.; total, 81.09 m.
The dividend obligations carry no voting
power.
Richmond & Petersburg Connection RR. stock of $140,000 re
oelves 8% dividends under lease.
The R. F. & P. RR guaranteed stock is
secured by mortgage.
New station in Richmond.
V. 107, p. 270.
The Richmond-Washington Co. (see below) In 1901 took over $947,200
of the $1,316,900 common stock, the road being operated as cart of "union"
line by Rich. Fred. & Potomac officials.
V. 74. p. 149.
Connection RR.
franchise suit, 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.
DIV. on stock and dlvt-1'97. '98. '99. '00-'04 '05-'16.
'17.
1918.
1919.
dend
9
4^
4X
1907 25% in dividend obligations, and In Feb., 1916 50% In
obligations..%J6H
♦Also In Jan.
7
7
8 yrly.
9 yrly.
both stocks and 41 vi dead obligations.
V. 102. p. 610; v. 83,p. 1525.
of 1903 due April 1943 ($4,000,000 author
$3,500,000 were issuable for double-tracking and Imorovements (of
which $2,680,000. outstanding). Is owned Dy Rlchnaoad-Washlngton Co. and
pledged under Its mtge. (V. 81, p. 1178), the remaining $500,000 being re¬
served to retire the consol
4 m at maturity.
See V. 77. p 2388. 2391
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
same on
BONDS.—Of the gen. 3
Ized),
Jan. 1 -Mar. 31
EARNINGS.—
1920.
Gross
Jan. 1 -Dec. 31
1919.
1918.
1919.
$2,968,556
Net
$3,212,847
$7,743,234
1,052.348
1,466,645
3,072.497
——.
$7,164,371
3,340,160
REPORT.—Year ending Dec. 31 1919: Fed. compensation, $1,136,573;
other income, $10,398; taxes, $58,855; deductions, $442,321; net
income,
$645,795.
Pres.. Wm. H. White; V.-P. & Sec., Normal Call;
D. K. Kellogg, all of Richmond, Va.—(V.
110, p. 872, 971. 1416.)
Treas.,
★ RICHMOND-WASHINGTON COMPANY.—Controls
a
"union"
line
Washington, D. C.. to Richmond, Va
115 miles, in the joint Interest of the
following roads, viz.: the Pennsylvania RR., Baltimore A Ohio RR., Atlan
tic Coast Line Co., Southern Ry., Seaboard A. L. Ry. and Ches. A O.
Ry.
,
each of which
owns
1-6 of the $2,670,000 capital atock.
Divs. In 1902, 3%
stock of the Richmond Fredericksburg & Potomac RR. and the entire stool?
of Washington Southern Ry.. Long Bridge to Quantico, 36 miles.
Federal compensation for Washington Southern is $468,433.
The collateral trust 4s of 1903 ($11,000,000 autn. isaue; are
guaranteed,
Jointly and severally, prln. and Int., by the six roads named above. Of the
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.
M
5 g
2
&
N Nov l 1942
Nov 1 1919
O Oot
l 1937
Q—F
A
5g
A
MAN Nov
•4
1
1923
Jan 23
4M g J
A
J
4 g
4 g
J
A
J
J
A
J
New York
IX Portland, Me
18 2%
July 1 1941
July 1 1948
July 1 1949
Old Colony Tr Co, Boston
Un S D A T Co, Portlaud
Grand Cent Term'l,
do
do
do
do
N 1
Old Colony Trust Oo.Bos
4H g MAN Nov 1 1927
Grand Cent
4 g
4 H
July 1 1951
MAN To May 1927
A
&
O To Apr 1928
Guaranty Trust Co, N Y
J
Grand Cent Term'l. N Y
4X
5g
J
g
A
A
J
J 1921 to 1925
do
do
Term'l, N Y
do
do
mond Fred. & Potomac gen. 3Xs, $947,200 common, $828,800 dividend
obligations, $4,000,000 Washington Southern 1st 4s, $4,000,000 stock
(being entire Isues of latter).
See form of guaranty, V. 77, d. 2391; V. 81,
p. 1178.
Cal. year 1918, int. on investments. &c.. $580,571; int., taxes,
&c., $406,447; dlv. (6%), $160,200; bal., sur., $13,924.—(V. 84, p. 932.)
★ RIO GRANDE JUNCTION RY.—Owns road Rifle Creek, Col., to a oon
nectlon with the Denver & Rio Grande at Grande Jet., 62 miles.
This la a
connecting link In the standard-gauge route between Ogden and Denver
and Colorado Springs.
Leased by Colorado Midland Railway (foreclosed)
Denver & Rio Grande at 30% of gross earnings, which companies
and
jointly and severally guaranteed the bonds, prln. and int.
The Denver &
Rio Grande Dec. 31 1917, ended Dec. 31 1918, owned $1,958,300 of the
$2,000,000 capital stock. V. 105. p. 2457; V. 95, p. 1542; V. 97, p. 888.
In Nov. 1918 all bond interest had been promptly paid.
DIVIDENDS.— 1905. 1906. 1907-12. 1*» 13-14
1915.
1916-17.
1918
1903. %-... 3H
41/
5 yrly
Nil
15%
5%yrly. 51.6%
EARNINGS.—For 12 months ended Dec. 31 1918;
Since
Gross
30% of Gross
Fixed
Earnings.
Earnings,
Charges.
$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.)
Sur. for Yr.
1918
$145,184
★ RIO GRANDE SOUTHERN RR.—Ridgeway, Col., to Durango, 162 m..
and branches, 13 m.
Stock, $4,509,000; Dec. 31 1918, $3,579,737, owned
by Denver A Rio Grande.
See V. 63, p. 404.
Mortgage absti-act. V. 54
p. 163, and application to N. Y. Stock Exchange In V. 54, p. 446: V
61
p. 1014.
Of the bonds. $2,277,000 are guar, by D. & R. G., which, Dec. 31
1918. owned $1,511,000 of the issue. V.70,p.791. See guaranty V.70,p.1295.
In Nov. 1919 all bond Interest had been
promptly paid.
Year 1918, Federal compensation, $144,366; total income, $159,970; int.
charges, &c., $183,894; aef., $23,924.
For cal. year 1917, gross was
$633,120, and net, after taxes. $184,684.
J. A. Hartley, Sec.; Gen. Mgr.,
James Russell.—(V. 105, p. 2366.)
ROBERVAL-SAQUENAY RR.—Bagotville to Ha-Ha Bay June.. 20
branches, Laterriere June, to Lake Kenogami, 13.8 m.; La Brosse June,
1.4 m.; total. 38 8 miles.
Stock, common, $1,200,000, and pref. 6% non-cum., $800,000; par, $100.
The Consol. Ref. Mtge. is limited to $3,500,000, of which in Feb. 1917
$536,400 was outstanding. $723,600 was reserved to retire Ha-Ha Bay
Ry. bonds, and $2,240,000 to be Issued only on account of additional mile¬
age, but so that the total amount of bonds outstanding shall not exceed
$35,000 per mile of road built and under construction.
A new bond issue of
$70,000 was made in June 1919, making the total amount of bonds out¬
standing $1,330,000.
For year ended Dec. 31 1919: Gross, $335,005: net,
$127,271; Int. and rentals, $95,663; net Income, $31,608.
Pres., J. E. A.
Dubuc; Treas., A. Bechard; Sec., Ray BeJIeau.
Office, Chicoutimi, Que.
m.;
to Chicoutimi, 3.6 m.; Bagotville to St. Alexis,
Total 1917. cal. year
10,200,707
527,149
2,090,849
12.818,705
OFFICERS
OF READING CO.—Pres., Agnew T. Dice;
Troy to Lake Cham plain
9.057,600
3.494,000
4,400,000
1,350,000
1,000
1,000
1,000
1897
1901
1912
59
Jan.
1919.
400,000
300,000
500
397
(contract signed).
Jan. 1 -Mar. 31
EARNINGS.—
$300,000
Ac
500
FEDERAL COMPENSATION.—The compensation payable
S. RR. Administration to the Philadelphia & Reading Ry,
affiliated companies aggregates $17,094,334
See text
100
—
This collateral consists of $2,680,000 Rich
★ ROCHESTER A GENESSEE VALLEY RR.—Avon to Rochester, N. Y.,
18 m.
Leased 1871 in perpet to Erie Ry.
Rental, $34,012. paid by Erie
RR. direct to stockholders, $33,312, organlx'n, $700.
See V. 108. p. 580.
ROCK ISLAND LINES.—(See map, p. 111.).—This Is the populai
for the Important Chicago Rock Island & Pacific system, whose
earnings, securities, &c., are shown on preceding pages.
name
★ ROCK ISLAND-FRISCO TERMINAL RY.—Furnishes part of St. Louis
terminals of the Rock Island and St. Louis-San Franolsoo systems, Includ¬
ing new freight station and yards in St. Louis, Mo., the Chloago R. I. &
Pao., St. Louis-San Fran, and Chlo. A E. 111. contributing proportionate
amounts equal to operating expenses, taxes and fixed charges.
Incorpo¬
Auth. stock, $5,000,000; outstanding,
$500,000, $300,000 being owned Dec. 31 1918 by Ch. R. I. & Pacific Ry.
and $200,000 by St. Louis San Fran. Ry. Co.
The bonds (see above)
are jointly guaranteed by endorsement by Chic. R. I. & Pac.
Ry. and old
St. Louis & San Francisco RR. Co., Merc. Trust Co. of St. Louis is trustee.
V. 84, p. 571, 749.
Pres., M. L. Boll, Chicago.—(V. 84, p. 749.)
rated April 9 1906; V. 84, p. 929.
ROCKINGHAM RR.—See page 139.
★ ROME & CLINTON RR.—Owns road from Rome to Clinton, N. Y., 13
tnlles.
Organized In 1869.
Leased In perpetuity in 1891 to Delaware &
Hudson Canal (now D. & H.) Co. and oper. by N. Y. Ontario A Western.
Rentals, $22,375 yearly and taxes, except income tax.
Divs. at 6 X % P a.
(3 y% % J.-J.) paid to Jan. 1910. but payments reduced thereafter on account
of Federal income tax; 3% paid July 1910; 1911 & 1912, 6J/%; 1913, 6X %\
1914 to July 1917, 6M%; Jan. 1918 to Jan. 1919, 3% s.-a.; July 1919,
2Vs%; Jan. 1920, 2%%.—(V. 106, p. 397.)
•
A ROSCOE SNYDER & PACIFIC RY.—Owns Roscoe, Tex.,to Fluvanna.
50 miles.
Stock, $150,000.
Dividends for year 1914-15, 25%; 1915-16,
15%, 1917 15%. 1st Ref. gold 5s ($5.000.000), limited to $20,000 per mile.
were reserved to retire $157,511 prior liens due July 1 '17, hold by
Texas A Pacific Ry.
Of these $57,511 were paid off at maturity and the
remaining $100,000 extended for 2, 3 aDd 4 years, respectively, due onethird each year.
Bonds are subject to caII on any Interest day In blocks
of $1,000,000.
V. 95, 0.1685.
For year ending Dec. 31 1919: gross, $182,380; net, $87,386; int., taxes, etc., $46,561; bal., sur., $40,825.
For year
ending Dec. 31 1918, gross, $81,272; net, def., $4,749; int., taxes, &c.,
$26,355: bal., def.,
$158,000
$31,105;|Dec. 311919, loans and bills payable, $104,390.
★
RUTLAND RR.—(See Maps N. Y. O. A H. R. RR.)—415 miles, viz.:
Miles.
Leased, Ac.—*
Miles.
Lines to Tlconderoga, Ao
18
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,(XX) stook and JlOO.OOO 4% boudo of Rutland & Noyan
RR., entire $1,000,000 stock of Rutland Transit Co., entire $100,000 stock
Ogdensburg Term. Co., entire $500,000 Chatham & Lebanon Valley RR.
1st mtge. bonds, $495,900 (total $500,000) stock of Addison RR. Co. and
$149,500 stock (total $150,000) of Champlain Construction Co. V. 75,
RR. Lines Owned—
3ellow's
p.
1029; V. 73, p. 437; V. 72, p. 88, 822.
In May 1915 the I.-S. Commerce
Commission ordered the company 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.
RAILROAD
Miles
Date
Par
Amount
Rate
When
Last Dividend
Road
Bonds
Value
Outstanding
%
Payable
27
6.75
1910
lOOAIOOO
nois B
ridge"
notes on first page.]
Rutland Toluca A Nor—1st M g gu
red Oct 15-NC.xo*
Rutland & Whitehall RR—Stock (no bonds)
St Clair Madison & St Louis Belt—See Missouri &
lilt
Sag Tuscola & Huron—See Pere Marquette RR.
St John A 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).xo*
St John's River Terminal—First mortgage
N
St. Joseph fit Grand 1st Ry—Common stock
1st pref stock 6% non-cumulative $5,600,000
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—IstM $800,000 g—N.xc*
Second mortgage $400,000 g
N-x
St Louis & Cairo—See Mobile & Ohio
A
1914
1894
1902
1.000
100
100
1897
i"5oo
1896
1896
1.000
1,000
1.000
500
Ac
1,000
500 Ac
Compensation.—$1,023,883 yearly during Federal control.
had been exchanged
for pref.—10 of common for 1 of preferred.
V. 72, p. 439. On Dec. 31
1918 the Rutland RR. owned $102,200 and the N. Y. Central RR. and the
N. Y. N. H. A H. RR. Co. each own $2,352,050 of the company's $9,057,STOCK.—In Dec. 1918 all but $189,400 com. stock
2
2
3
*03. '04-'05. '06-'08. *09-'15.
3
4
0
1
lHyrly
Accumulated dividends on preferred aggregated
Equipment trusts issued to Director-General for
to this company.
See article on page 3.
Jan.
1918.
Jan., 2
rolling stock allocated
.
Jan. 1-Dec. 31
1 -Mar. 31
1920.
$1,156,600
-def.110,609
EARNINGS.—
1917.
Apr. 2
0
about 244% Jan. 1919.
1919.
1919.
$985,340
def.74,268
1918.
$4,540,589
153,408
REPORT.—Report for cal. year 1918 in V. 108, p. 1611, reported as
follows: Standard return, *$1,023,883; other
income, $11,997; gross in¬
come,
$1,141,880; interest $476,031; rentals, Ac., $122,373; bal., sur.,
$543,476.
*Of this amt. $241,000 had been received at end of year.
Gross
Net
$4,838,533
363,327
Gross.
Net after Taxes.
Other Income.
Total Income.
$4,540,589
def. $73,004
$122,448
$49,445
4,325,369
795,833
178,877
974,710
x As reported to I.-S.
C. Comm. by U. S. RR. Administration.
Directors.—Harold S. Vanderbilt, William Rockefeller, Geo. F. Baker,
John Carstensen, Alfred H. Smith, Albert H. Harris, A. T. Hadley,
T. De Witt Cuyler, Percival W. Clement. Edmund R. Morse, W. Seward
Webb. Howard Elliott (V.-P.), E. G. Buckland (Pres.). The Sec. is Dwight
W. Pardee, and Treas., Milton S. Barger.—(V. 110, p. 872, 971.)
1918.x
1917
RUTLAND TOLUCA & NORTHERN RR.—Rutland to McNabb, III.,
27 miles.
Leased to Chicago A Alton RR., which owns all the $97,000
■tock, for 999 years from Oct. 1 1910. and guarantees the bonds, prln. A int.
V. 93,p. 408.
Pres.,W. G.Bierd; Sec. A Treas., H. E.R.Wood.
Office,
1101 Transportation Building,
Chicago.—(V. 93, p. 408.)
Northern Tr Co, Chicago
1H United Nat Bank, Troy
Bank of Montreal, Lond
D 1962
A
§ *
6 g
J
A
J
A
A
A
J
4 g
J July 1 1952
Company's office, Boston
New York
A
5sn"Tl947
U 8 Mtge A Tr Co. N Y
J July 1 1996
O Oct 1 1996
New York Trust Co, N Y
J
J Aug
1 1926
6
MAN May 1
fig
A
A
6
F
A
O Oct
A Feb
fig
A
A
O Oct
6 g
MAS
1922
Eoultable Trust Co. N Y
Last coup paid 1907
/Bank of Kennett, Ken\
3,500,000
2.000.000
45.000
300,000
19
Where Interest and
Dividends are Payable
1902. 5%
150.000
Federal
onpf-J
O Oct 1 1930
15 May 15 '20
Louis
Louis Bridge—See Terminal Railroad Association
42
1906
Louis El Reno A W—1st M $817,000 g red . J[text)
Louis Iron Mt fit Southern—See Missouri Pacific
1913
Louis Kennett & S E RR—1st M $150.000
5t Louis Memphis & S E—See St Louis & San Fra
1890
ft Louis Merchants' Br Term—1st M gu p A 1 g_SSt.sc
1889
Merch Bridge IstM red since Feb 1 1909 at llO-SSt.*
9
1902
it Louis & O'Fallon—First mortgage gold
z
9
1903
Second M $300,000 g red par beg Oct 1912
_y
St Louis Peoria fit N W Ry—See Chicago A North w estern Ry
600 pref. stock.
Divs. \ '98. '99. '00. '01. '02.
&
J
817,000
1.000
St
&
Q—F
MAS Mch 1 1944
800,000
400,000
43
A
J
5,499.400
3.500.000
4.000.000
43
of
text
£873,285
$1,700 000
2,500,000
1,142.000
4,600,000
251
,
4 g
225.000
255.700 See
100
RR
Belt
1912
170
126
St
St
St
St
Places
and Maturity
COMPANIES
IFor abbreviations. Ac., see
[VOL. 110.
^Control.
RAILWAY STOCKS AND BONDS
^Contract.
116
Sep
nett, Mo.
St Louis Union Tr Co
1 1930
1 1929
1 1922
Farmers L A Tr Co, N
1 1928
State
St Louis Union Trust
Y
Oo
Bank, Chicago
& ADIRONDACK RY.—{See Maps N. Y. C. Lines.
Adirondack Jet., 43.07 miles. Leases from
Valleyfleld to Beauharnols, 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
entire stock, $1,615,000, and leased the road for 21 years from Jan. 1 1916,
V. 102, p. 1443; V. 99. v. 1599; V. 101. p. 450, 775.
At per lease, the earn¬
ings are now included with those of the lessee.—(V. 101, p. 775.)
ST. LAWRENCE
—Owns from Malone, N. Y., to
Grand
Trunk
Ry.,
AST. LOUIS EL RENO & WESTERN RY.—Guthrie to El Reno. Okla.,
Ft. Smith A West, acquired 51% of stock in 1906.
Stock, $970,800 June 1916.
In Oct. 1915 Arthur L. Mills, Fort Smith,
was made receiver.
V. 102, p. 251.
Loans and notes payable, Ac., Dec. 31
1917, $242,470Year 1917, gross. $56,065; oper. surp., $5,020; inter¬
est, rents, Ac., $48,000; bal., def., $42,980.
Pres., J. C. Van Riper.
Sale
of property protested.—V. 110, p. 659.
42 m., opened In 1904.
AST. LOUIS & HANNIBAL RR.—Hannibal to Gllmore, 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 bonds
being retired and no new bonds issued.
The new company took possession
Dec. 31 1917.
In May 1919 sought permission to cease operating and junk
the road (V. 108, p. 2123).
Auth. capital stock, $250,000 non-cum. 5%
pref. stock and $790,000 common (par $100); all the pref. and $370,000
common stock has been issued to June 1 1918 (V. 105.P.717).
From Jan. 1
1918 to Mar. 31 1919, net loss from oper., $26,620.
For the year 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 interested.—(V. 107,
p. 1920; V. 108, p. 2123).
AST. LOUIS KENNETT & SOUTHEASTERN RR.—Owns Kennett,
Mo., to Piggolt. Ark., 20 miles.
Stock Dec. 31 1919, $300,000: par,
$100.
Bonds auth., $154,000 1st 6s, dated Apr. 20 1913. of which $130.000 issued to retire oM bands.
Year ending Dec. 31 19)9, gross, $99,716;
and taxes. $14,710; bal
sur., $10,529.
Pres.,
V.-Pres., D- B. Pan key; Sec. A Treas., R. R. Pankey.
106. p. 191.)
net, $26,034; int.
Lasswell;
W. D.
Office,
Kennett. Mo.—(Y.
★ RUTLAND A WHITEHALL RR.—N. Y. State Line to Castleton, Vt.«
6.75 m.
Leased 1870 In perpetuity to Rensselaer A Saratoga RR. (rental*
ZATION.—Double-track road from near Union Station, via
$15,342—8% on stock. less U. S. income tax); operated by Del. A Hudson -
Sc., &o.t to Ferry
ST. JOHN & QUEBEC RY.—Completed and operated by the Canadian
Frederlcton northwest to Centreville, 88 miles, and
1919 from Centreville
over the Can. Rocky to St. John.
The 1st M. debenture stock, unconditionally guaranteed, prln. A int.,
by the Province of New Brunswick.
Callable for 1% fund beginning in
1922 at 105.
V. 94. p. 1450.; V. 95. p. 1747.
The title of the railway being now vested In the Prov. of N. B., the Prov.
of N. B. issued Provincial 5% 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.—(Y. 98.
p.
1678.)
National
Railways.
Fredericton southeast to Gagetown; also since Oct. 1
to Westfield
Beach thence
ST. JOHNSBURY & LAKE CHAMPLAIN RR.—Owns Lunenburg. Vt.<
M&quan Bay, on Lake Champlaln, 121 miles.
Victory branch, see V.
The road is operated independently, although a majority of
by the Boston A Lowell, leased to the Boston A Maine,
Due ami. cos. Dec. 31 1917, $940,435.
Stock, com., $2,452,449; pref.,
$1,154,400; par, $50.
In 1917, gross, $348,631; net Income after taxes,
Ac., $11,206; interest on bonds and notes, $230,579; def., $219,393.—
(V. 105. p. 1414.)
to
103, p. 1033.
the stock Is owned
★ ST. JOSEPH & GRAND ISLAND RY.—Owns St. Joseph, Mo., to Grano
Island, Neb., 251 miles; Stouts to Highland. Kan., 7 m.
HISTORY.—A reorganization
Feb. 23 1897 (per plan in V. 62, p. 784
950) of the St. Jos. A Grand Island Railroad, sold In foreclosure.
Union
Pacific Dec. 31 1917, oweed $4,553,300 com., $4,871,389 first pref. an*
13.359.779 2d pref.
V 84. ». 52. 571; V. 92. p. 597. 1244.
OnJuly9 191i
Circuit Court of Appeals in a suit by certain pref. stockholders reversed the
decision of the lower court, which hold illegal the control by the Union
Pacific RB. Oo.
The appeal of the plaintiff* from this decision to tb«
U. S. Suprems Court was
the
voluntarily dlsmtamd June 12 1916.
In Jans 191$
preferred stock deposited with the commlttse referred to in previous
reports was all sold to the Union Pacific RR. Oo.
V. 103. p. 181$.
Federal Compensation.—$373,811 yearly during Federal control.—V. 108,
1166.
p.
/189S
\
5
DIVIDENDS (%)—
On
first
preferred
1899
1900
3
3
1901
5
1902
5
None
Since
BONDS.—Bonds for $1,000,000 can be sold under mtge. of 1897 enly for
new mileage at not exceeding $6,000 per mile.
See listing* la V. 64. d. 1138,
V. 94, p. 763.
Action has been dropped on proposed new bond issue, owing
to pending stockholders' suit.
V. 95, p. 420. 1123, 1536.
Loans and bilto
payable owned by Union Pacific RR Dee. 31 1917. 1893.500.
Jan.
1 -Mar. 31
Jan. 1 -Dec. 31
1920.
1919.
1919.
1918.
$809,450
$655,345
$2,932,822
$2,588,577
Net
57,108
def.61.121
88,389
29,546
Income Account.—For cal. year 1918: Rental from U. S. RR. Admin..
$373,811; other income. $5,669; int. on bonds, $160,000; int. on notes.
$54,237; war taxes, $12,392; other charges, $43,682; bal., sur., $109,169.
—(V. 103, p. 1882; V. 108. p. 1166.)
EARNINGS.—
Gross
„
ST. JOSEPH SOUTH BEND & SOUTHERN RR.—Owns South Bend.
Ind., to St. Joseph, Mich., 39 m.
Stock, $500,000 oom. and $250,000 5%
pref. Leased to Ind. 111. A Iowa RR. (now New York Central RR.) for 5*
years from Feb. 23 1900, the Michigan Central assuming operation on Feb.If
1905; 5% per annum on pref. and 2% on oom. are paid yearly (M A • 15)
since Sept. 1901.
In 1905 and 1907 and March and Sept. 190i. Sept. lfll
Sept. 1913, Sept. 1915, Mar. 1918, Mar. 1919, and Mar. 1920 paid }A%
extra on common.
cer
No further extras to Oct.
Jacob S. Farlee,
1919.
No bonds.
Offi¬
I^es.; Colgate Hoyt, V.-Pres.; Frank H. Carter, Sec.
A Treas.—(V. 106, p.
1
930, 1127.)
BRIDGE TERMINAL RY.—ORGANI
Main St., Hall
St., opposite the Merchants' Brldgs, 4.01 m.; it owns and
controls the Madison 111. & St. L. Ry., 1.91 m.; total, 5.92 miles.
Leases
Merch. Bridge (1.99 m.) for int. on Bridge Oo.'s $2,000,0100 bonds.
Federal Compensation.—$412,427 yearly during Federal control (contract
★ ST.
LOUIS
MERCHANTS'
executed).
Stock auth., $3,500,000; Issued to June 30 1919, $2,939,500; par, $100;
of this the Terminal RR. Association owned $2,§39.309 Dec. 31 1919.
On Doc. 31 19J9 there was due to Term. RR.of St.L. $1,843,000 for ad¬
vances under Its guaranty.
In Nov. 1893 Term. RR. Assoo'n.of St. JL>.
onds and
$2,000,000 Merck. Bdge. 6s. Suit, V. 91. p. 1448.
guaranteedthe interest
by endorsement the prln. and int. of Its $3,500,000 1st mtge.
on
Other Inc.
Charges.
Balance.
x$5l3,689
$589,014
def.$75,325
x453,929
486,288 def. 32,359
1917
$3,166,033
$759,978
610.553
1.226.955 sur.143.576
x Includes compensation due from Government (subject to amendment),
$412,427, and other income.—(V. 91, p. 1448; V. 108, p. 2241.)
Net.
Qross.
Year—
1918
ST.
LOUIS &
O'FALLON
RY—East St. Louis, 111., to Mine No. 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.)—The com¬
Dec. 31 1918 operated directly or through subsidiaries a total of
5,166 miles of road, of which 3,549 miles are owned in fee, 1,546 miles are
controled through ownership of substantially all the capital stock, and 101
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 Francisco Ry. also
has a direct through route from Kansas City to Memphis and Birmingham.
V. 106, p. 2006; V. 107, p. 2377.
pany on
ORGANIZATION.—Incorporated in Missouri Aug. 24 1916 and suc¬
1916, per plan in V. 102, p. 896, 1061, to certain proper¬
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, 1703; V. 107, p. 247?)
(1) Prior Lien Mtge., Series A 4%; B 5% Bonds-, C 6% Bonds.
Limited to $250,000,000.
Issuable in separate series bearing such inter¬
est rates not to exceed 6%, maturing at different dates and redeemable at
such times, and premiums as may be determined.
Including Dec. 31 1919.
Series A 4% bonds in hands of public
$84,416,900
Held to retire remnants of old securities (see table)
8,891,600
In insurance fund
90,000
Series B 5% Bonds, held by public (V. 103. p. 1889; V. 106. p.
ceeded on Nov. 1
ties of St.
2006)
24.950.000
-
50.000
Held In Insurance fund
general corporate purposes
5.533,500
Series C 6% bonds sold in Dec. 1918 (see "Gen. Finances" below
and V. 107, p. 2477; V. 108, p. 2325)
10.598.000
Balance reserve in series to retire equip, bonds after Dec. 1 1919
1,423,000
Reserved to retire $9,484,000 Gen. M. bonds, due 1931
9,484.000
Reserved, tamable after Jan. 1 1917, at par, for new equipment
and improvements:
(a) Prior to Jan. 1 1922, for entire cost
at rate of $5,000,000 annually, viz., equip., $2,000,000; imIssuable for
proveaeate. $3,000,000; (b) 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)
Reserved for issue at par to construct new
or
railroad
55,926,000
mileage or acquire
stocks or bonds representative thereof
after Jan. 1 1931 for two-thirds cost of equipment or for
other lines of
or
improvements and additions, $4,000,000 biennially
...
44,355.000
RAILWAY STOCKS AND BONDS
iT.PAuU
Minneapolis
LEGEND
(North of Red River)
Railway Co
St. Louis, San Francisco & Texas
Paris & Great Northern Railroad Co.
Ft. Worth & Rio Grande Railway
The Brownwood, North & South
Birmingham
Co.
| | Luke
% ( Winnebago
OWNED
LINES
St Louis-San Francisco Railway Co.
st.l.i
.
.......
— ——
P. & c
—
......—^
ft.w,
Railroad Co-—
Belt Railroad Co..*:
.....
Albert Lea
La Crossee
Fond da Lac
b. n.
b. b.
—
Quanah, Acme & Pacific Railway Co.—.—»
Winona
st. l
—....—
—
Milwaukee
Q• a.
®
madison
LEASED—MEMPHIS SYSTEM
LINES
The Kansas City, Ft.Scoit
Kansas
& Memphis Railway Co.
...
-
City & Memphis Railway & Bridge Co
Tyronza Central Railroad Co
I
Bonnerville, & Southwestern Railroad
Kansas City, Memphis
Co.
Lines
c.
——-~s. a s
& Birmingham Railroad Co.
Trackage Rights over Foreign
k.c.f
..k.c.a
k. c.
.
Cedar Rapids
#***
——
OES MOINES
Joint
Passenger Terminals...
Davenport
<
—
Itoek Island
La Salle o^P.
\
Omaha
Council Bluffa
Ottumwaxo
Grand Island.
Burlington^
Peoria
LINCOLN
.Hastings
Bloomington
*'
'Keokak
Beatrice
McCook
o
Kelson
oFairbury
Trenton
>ecatu:
Quincy
St. Joseph
(onyille
Hannibal
Atchison
Princeton
lit.Vernon s*
V)He"i'y
VXILIY
aEvansville
ji*
r~CHERRy VALLEV
DSLKjO
$/7
oMayMd
River
&
oJackson
-1
^VV
Malyera?
VP
A3£R0£ftd?rTl
ABen
Wichita Falls
o
*
BEEN.'
J^DENISON
Seymour
AX.
Shvevepr',
Monroe
Meridian
Sweetwater
jackson
Cornea na
Waco
o
Hattiesbi
Alexandria
O.C l
8-F.RV—,
whiteland
FT.W.S R.G.
Newton
J
"baton rouge
Lake Panic ha /
AUSTIN
Beaumont
NEW
ORLEANS
;ouato
San Antonio
Laredo
MAP
Brownsville
ST. LOUIS-SAN
OF THE
FRANCISCO
RAILWAY CO
★Government
118
APrlvate
BONDS
RAILWAY STOCKS AND
Contract.
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rate
When
Last
[For abbreviations. Ac., see notes on first page]
St
Road
Bonds
Value
Outstanding
%
Payable
and
Louis-San
Francisco
100
3,471
Series C6% callable at 102M and intLCe.xc*Ar*
Adjust M cum $75,000,000; ser A, call par A intBax
3.471
$75,000,000; ser A, call par.Un
goid(lston658m)$3,659.000are6sU»*c*
100 Ac d84,506,900
100 Ac
25.000.000
100 Ac
10,598,000
100 Ac d88,806,018
100 Ac
35.192,000
1910
1,000
1910
1911
1912
-
5.000
6 g
Oct. 1
4#
iJuly I 1960
JJuly 1 1931
112
,
1897
103
1899
106
1900
64
188
102 44—N.zo
or
31,00"
1,000
1.000
84.000
K.
C.F.S
600
.
412.700
495,000
47,000
1.000.000
1.392,000
1.741,800
A M. R y. pref. stk.
106, p. 822; V. 107, p. 1005; V. 108, p. 1166; V. 109, p. 888.
Outstanding as of Dec. 31 1919
;
$38,798,493
Reserved to retire remnants of old disturbed bonds
1,749,325
Reserved for 33 1-3% of oost 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 be Issued..
bonds. V.103. p.l688__$35,192,000
Reserved for Issue at par for
Improvements, additions and equip¬
ment. 1922 to 1931, $2,000,000; thereafter $3,000,000 yearly
Bonds. Issuable in seriea shall redeemable. paidwhole Income Mortgage
receding the full interest and have been In on the In part, at such
or
be fixed at time of issue.
6% pref. stock (redeemable If allowed by
as may
laws at par and dlv.) for adjustment of
outstanding debt...
For future
7%
Prior Lien Mortgage.
The pref. and common stock will be held till
July 1 1921 In a voting trust,
unless upon payment In any year of full interest on the Income
bonds the
trustees shall elect to terminate the
agreement.
Voting trustees: Frederic
W. Allen. James W. Luak, Charles H.
Sabin, James
Strauss, Eugene V. R. Thayer, and Festus J. Wade.
In
as
Mortgage.
r
Apr. 1920 the exchange of old bonds for the
Speyer, Frederick
issues and cash
K. O. Ft. S. & M. pref. stock:
of New
Securities
and
Cash—Holders—
CI) For Ref. M. and Oen. Lien Bonds and 4% Guar. Trust
Certificates Issued
for Kansas City Fort Scott A Memphis Preferred Stock.
Existing
Principal.
Originally
Outstanding.
Ref. Mtge. 4s_$68,557,000
(Foreclosed.)
Gen, Lien 5s..
69,384.000
6% +
/
1
17,346.000
25%
I
$11,250,000
75%
17.346.000
25%
$2,312,568
3.333%
$3,750,000
Interest
4% Trust Otfs 15,000.000
for K O F 8 A M pref stk
Terms Offered for Old
Remnants—Originally(for Amounts out. See table above)Outstanding.
Consol. Mtge. 4% bonds
$1,558,000
8outhwest. Dlv. 1st 5% bonds..
829,000
Central Dlv. 1st 4% bonds
145.000
Northwest. Div. 1st 4% bonds..
Trust Mortgage 5% of 1887....
Trust Mtge.
47,000
439,000
6% bonds of 1880..
182.000
Mo. A West. Dlv. 1st 6% bds...
Muskogee City Bdge. 1st M. 5s.
100.000
Chester Per. A 8te. Gen.
Pemiscot RR. 1st M.
74.000
1st 5s
(a)6$%
(a)3H%
(a) 3h%
(a) 6H%
(a) 1244%
(a) 1244%
5%
54.000 100%
65.000 100%
Kennett & Osceola RR. 1st 6s..
So. Mo. A Ark. RR. 1st M. 5s..
Ft. W. A Rio Gr. Ry. 1st M. 4s.
4,500
2.923.000
1.758.000
Quanah Acme A Pac. Ry. 1st 6s.
x No cash, but 25% ($3,750,000)
cum.
$34,692,000
50%
Will ReceivePrior Lien, A, 4%
140.000
6% bonds
100%-$1,558.000
125%- 1,036,250
125%181.250
125%58.750
125%548.750
125%227,500
92,600
125%125%125,000
125%175,000
A Int.
A int.
100%- 2.923.000
125%- 2.197.500
(a) Includes interest from last matured coupon to July I 1916.
The $10,598,000 Series "C", sold In Dec. 1918
(V. 107, p. 2477), reim¬
bursed the company as follows: (a)
$3,090,000 to retire equip, trust obli¬
gations; (b) $683,000 for acquisition of new mileage, terminals and terminal
facilities; (c) $5,367,000 for additions and betterments;
(d) $1,458,000 for
additions
to
passenger
Out of the
equipment, including purchase of 28 freight locomotives and
locomotives.
proceeds of this sale the company paid off all Its floating debt,
amounting to $5,210,000,so that the increase in annual fixed
charges woula
not exceed $323,280.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
JJuly 1 1996
OiOct 1 1947
OiApr 1 1929
O Apr 1 1930
OjOct 1 1939
A
A
A
A
A
A
6 g
A
&
4
J
&
J Jan
4 g
1
O Oct
4 g
United StatestTrust, N Y
Union Trust
Co, N Y
Bankers Trust Co. N Y
1 19S7
do
do
do
do
do
do
Commonwealth Tr, St L
Bankers Trust Co, N Y
1952
Bankers Trust Co, N Y
Central Union Tr N Y
1 1922
JjJuly 1 1928
A
6% ad
and $2,9
Jan.
1 -Mar. 31
1Q90
Jan.
1Q1Q
ended Dec. 31
year
1-Dec.
1Q1Q
$21,472,622 $17,514,464
4,080,317
2,528,790
$69,812,604
14,560,628
18,124,022
1918.
31
1 Qi Q
$78,552,"125
108.
V.
2325.
p.
1917.
5,166
1916.
5,207
5,256
$72,475,313 $59,676,657
11,831,848
17,292,801
dr.623,759
dr.997,522
668,098
411,855
$53,119,999
15,280,127
Operating Revenue—
Total oper. revenue.....
Operating
income
Hire of equipment
Other Income-.
Total
income--
11,876,188
$1,1.38,778
8,448,877
2,325,033
2,111,520
—.
Rentals, sink, fd., &c.
on fixed charge obligations
Int. on Cum. Adjust, bonds
Int.
on
income bonds..—
—
dr.455,469
957,206
16,707,134
$1,045,981
8,377,690
2,324,156
2,111,520
15,781,864
$1,144,236
*8,505,652
*2,322,013
*2,111,520
Balance, surplus
-def.*2,148,021
2,847,788
1,698,443
♦Interest charges above shown are based on the capitalization of new co.
Note.—The 1918 figure in this statement, for continuity of record, com¬
bine the income account of the Federal management with that of the com¬
pany, eliminating the "standard return."
standard
return
($13,423,400 protested
Using the tentative minimum
inadequate), the company
as
showed a surplus for the year 1918 of $125,587 in place of aforesaid deficit.
See V. 108, p. 2325.
OFFICERS.—Chairman, E. N. Brown; Pres., J. M. Kura; 1st V.-P.,
2d V.-P., C. W. Hillard; 3d V.P-, T. A. Hamilton; 4th V.-P.,
A. Hilton; 5th V.-P., B. T. Wood; Sec. A Treas., F. II. Hamilton.
DIRECTORS.—Frederic W. Allen, N. Y.; E. N. Brown, N. Y.; Geo. W.
Davison, N. Y.; Sam Lazarus apd J. M. Kurn, St. Louis; C. H. Sabin and
Lorenzo Semple, N. Y.; A. L. Shapleigh, St. Louis; Frederick Strauss, N. Y.;
J. W. Kendrick, Thomas D. Heed, Chicago; Frederick H. Ecker, Jesse
Hirschman and E. V. R. Thayer, N. Y.; Festus J. Wade, M. L. Wilkinson,
Louis.—(V. 110,
p.
465, 659, 872, 971, 1189, 2193.)
AST. LOUIS SOUTHWESTERN
RY.—System embraces:
St. Louis S W. Ry. (943 miles).—
Main Line—Delta to Texarkana411.8
Main line trackage
1.6
Illinois Division
Paragould 8. E. Ry. (leased)..
Camp MacArthur Branch
Cent. Ark.
44.8
78.5
25.7
Lufkln
62.6
Total operated Dec. 31
A Eastern
(leased).
StuttgartALittle Rock Branches
River (leased).
Sbreveport Branch
37.3
St. L. SW. Ry. of Texas (814.7 mi.).—
L—Texark to Comanche.373.9
161 2
Cairo ami New Madrid Branches 63.4
Grays Point Term. By. (leased) 13.2
Memphis Dlv. trackage, AO— 68.6
(trackage)
Main
Fort Worth
A
Dallas Branchesl74.8
Sherman A Hlllsboro
Branches
92.5
4 2
130.9
Branfch
Steph. N. A 9. T. (leaaol)....
38.4
1918.1,783.4
On Jan. 1 1918 leased Pine Bluff Ark.River Ry.,26 miles.—V.
106.p.297.
The Stephenville North A South Texas Ry., Stephenville to GatesvlUe,
75 m., and
Edson (near Hamilton) to Comanche. 30 m., la leased from
July 1 1913 with option of extension for 40 years, or right to purchase at
any time.
V. 96. p. 1090,1490, 1774; V. 96. p. 1841.
Leases for 30 years,
from July 1 1910. with privilege of purchase on payment of bonds, the Cent.
Arkansas A Eastern, operating from Stuttgart. Ark., to England, and Rice
Jet. to Hazen. total. 45 miles.
p.
See BONDS below.
397; V. 93. p. 104. 228; V. 94. p. 417, 632.
384; V. 107, p. 795.
"STANDARD
V. 90. p. 1045: V. 91,
Valley Term. Ry., V. 105.
RETURN,"
Ac.—See page 5.
refused, V. 110, p. 1749.
Six months' extension
ORGAN.—Reorg. of St. Louis Ark. A Texas, foreclosed in Oct. 1890
PREF.
/1909
1910
1911
1912
Oct. 1912
*13
*14 since
DIVS.
12%
5%
4%
4H%(J.&J.)
W<%
4%
144
0
BONDS.—First Consols; auth. Issue, $25,000,000; unissued bonds were
reserved to retire the balance of 2d mtge. Incomes outstanding. $900 of
consols for $1,000 of Incomes.
See V. 74, p. 831; V. 75. p. 790; V. 77. p.
2160; V. 84. p. 1249; V. 87. p. 814: V. 88. p. 453.
The First Terminal and
Unifying 5s of 1912 ($100,000,000 auth. issue)
by existing mortgages and will also have a
all extensions, branches, equipment, Ac., constructed or ac¬
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 1919. Of the remain¬
ing bonds, $38,191,000 are reserved to retire prior lien bonds of the compai f
and controlled companies maturing during the life of the mortgage, and
$49,540,000 for additions, improvements, equipment, Ac., under stringent
cover
all the property secured
first lien
on
provisions.
See V. 94. p. 1450, 1120
560
488; V. 95. p. 887; V. 98. p.
691; V. 100, p. 1673; V. 102, p. 1718.
Equip, trusts, seriea F.
V. 103.
p. 1211.
Loans and bills payable as of Dec. 31 1918, $100,000.
Guaranties.—Gray's Point Term. guar, of 1st 5s, V. 69. p. 1062. St.
,
,
Louis So. W.
100% A Int.
(a) 144%
Adjust. Mtge
A
....
of guaranty
25%
Cash.
OiOct
J
A
1918.
p.
Income.
Mort. 6%.
9%+($51.417,750 $17,139,250
75%
25%
)
(Foreclosed.)
Do
Will Receive
Prior Lien
Cum. Adj.
Ser. A 4%.
Mort. 6%.
Cash.
A
A
J
Aver. Mileage oper
was
n Pr°8ress under plan as follows, these then Including In the aggregate
$2,904,700 underlying mortgage bonds and $6,967,200 4% trust ctfs. for
«
Distribution
F
A
N Y
ny,
Bankers Trust Co, N Y
St Louis Union Trust Co
1922
JJuly 1 1942
A Aug 1 1920
5 g
4 g
4 g
Pine Bluff Ark.
part security under the
new
do
"20-Oct '23
ASlSSept^O-Sept '22
0—J
EARNINGS.—Report for
192.500,000
Stock.
pref. and common stock Is pledged
do
Net..
St.
$7,500,000
with maximum dividend rate to be fixed
$250,000,000 Authorized;
$50,447,000
Now
Issued
Reserved for future issue for corporate purposes, not
exceeding.l99,533,000
Five-Year
new
do
Office of
Aug 1920
vacant;
(4) Non-Cum. Pref. Stock, $200,000,000 Aulh.; Now 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 fiscal years next
Lien
do
LATEST
39,808,000
STOCK.—The company's share capital embraces:
The
Y
do
O Oct
14.452.182
eriee A. 6%,
Saymeiit of ailInterest fromthe Adjustment June 30 whichearned
interest on July 1 1915 to Bonds, 1916 see above,
Prior
DJune '20-Dec '20
&
EARNINGS
Gross
Int.
(3) Non-Cum. Income Mtge. Bonds, $75,000,000; Now Issued. $35,192,000.
Limited to $75,000,000.
Trustees, Union Trust Co. of New York and
J. H. Smith.
To bear non-cumulative interest at such rate not ex¬
ceeding 6% per annum aa may be named at time of issue, but only after the
Voting Trust—Right to Pledge New Stock under
A
A
6 g
5 if
4 g
113.000
1,000
1,000
1,000
1,000
The full semi-annual 3% interest on the outstanding Adjustment bonds
has been paid to and including Apr. 1920, and
on Oct. 1
1917 to 1919,
also the full 6% (annual) Interest on the outstanding Income bonds.
V.
(6) Common
A
M
before maturity, but accumulations shall not bear Interest.
at time of Issue at not over
F
A
5g
(2) Cumulative Adjustment Mortgage Bonds.
Limited to $75,000,000.
Bankers Trust Co. and E. F. Swinney, Trus¬
tees.
Interest payable at such rate not exceeding 6% per annum as fixed
at time of issue, out payable, prior to the maturity of the
principal, only out
of the "Available Net Income."
Interest accumulated must be paid at
purposes,
N
J
4 g
6 g
208.000
56.000
as
Co,
5 g
8,000
premiums, Ac.,
Trust
5 g
6,967,200
AC
Presently Issuable
Bankers
do
5 K
10.000-
518.000
562,000
1909
Quauah Acme & Pac Ry 1st M call 105
1,000
79
8t L Memphis A S E 1st M (see text) call 105
1902
341
1,000
c*
Kansas City Fort Scott & Memphis—See that co
KO Memphis & Birm—See K C Ft Scott A Memphis
L■'
Auxiliary Companies
Birra Belt 1st M g red 10244 gu p A 1 (end).OB.xc*
1902
1,000
38.59
Ft Worth & Rio Gr 1st M gold old 5« int red-Ce.xc*
223
1.000
1888
d On Apr. 1 1920 an additional $8,891,600 Prior II en "A "4% b onds and
6
O July 1 1955
1,000
1880
1887
1896
Northwestern
new
do
July 1 1928
A
73,000
1.000
1902
101
.
Collateral trust mortgage on branches gold Un.zo*
Consol mtgo (V 64, p 1861) gold, no option .Ba-z
Southwest Dlv M $1,500,000 red at par g—-Ce.io*
Cent Dlv 1st M gold $3,462,000 red at I02 4*-N.zc*
and paid in full on distribution of
do
do
Earned in full in 1916-19
Earned in full in 1916-19
A
100
K O F S A M prel stock trust certs
gua
Musk Cy Bridge 1st M g Int rent red 105—SSt.xo*
St L A San Fran coll trust g s f not dr'n
—Us.zc*
or
Office of Company, N Y
J
see
g due $72,000 or $73,000 s-a.Cex
notes Ser R due $5,000 s-a
x
Ser S due $74,000 s-a (A A O)
fix
Division mtge redeem
J July 11950
J;July 1 1950
&
5 A 6 g
9.367,000
1.000
A
A
J
6 g
6 g
1916
3,471
1381
986
tb at com
non-cum
J
J
4 g
5 g
1918
1916
Equip notes Ser Q
do
Where Interest ana
Dividends are Payable
7.500,000
1916
1916
3,471
3,471
Kansas City Ft Scott A Memphis System bon "
Old Securities Undisturbed—
do
Places
$100 $50,447,000
—
Series A 4% callable at
par and Int—Cexc*Ar*
Series B 5% callable at 105 and Int—Cexc*Ar*
Old Gen M
Dividend
Maturity
Ry—
Common stock $260,000,000 v t c
Pf Bfck non-curn$200,000.000 vtc; serA6% red par
Prior lien M $250,000,000 gold securing—'
Income M
[VOL. 110.
Control.
Of the
after
owns all stock and leases road till Aug. 1958.
V. 65, p. 413.
Gray's Point Term. Ry. 1st Ref. A Ext. 50-yr. gold 5s, redeemable
5
yrs. at 105
($4,000,000 auth. Issue), $550,000 are
retire the flrot 5s, $600,000 to acquire $600,000 So. III. A Mo.
reserved
to
Bridge bonds;
$843,000 Issued and pledged under St. L. A S. W. First Term, and Unif.
mtge.
V. 93. p. 273. 819. 890: V. 85. p. 222. 601.
The Sbreveport Bridge A Terminal Co., which Is
controlled, is leased for
50 years from Aug. 1 1905, ito $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 8tephensville No. A So. Texas 1st 5s and Paragould Southeastern 1st
5a ($5,000,000 auth. Issue; $511,000 Issued, held by 8t. Louis S. W. Dec. 31
1918).
V. 97. p. 366, 1025, 1824.
Jan.
EARNINGS.—
Gross
Net
1 -Feb.
1920.
$3,131,893
1,121,812
29
1919.
Jan.
1919.
1 -Dec.
31
1918.
$1,970,774 $13,750,284 $13,035,152
270,356
3,606,528
4,144,364
May,
1920.
★Government
APrlvate
Control.
RAILWAY STOCKS AND BONDS
Contract.
119
*
•'
v
RAILROAD COMPANIES
V
IFor abbreviations, Ac., see notes on first page.]
Date
Road
Bonds
St Louis Southwestern—Common stock $110,000,000
Preferred stock 5% non-cumulative $20.000,000—
First mortgage certs ($16,500 per mile) gold.Ce.xo*
3econd M 4% mo $10,000,000 non-cum g—Ba.xo»
First Consolidated mtge $25,000,000 g —Eq.xo'&r
First and Term Unifying M $100,000,000jg-(lxo»&r*
Stephenvllle Nor & Sou Tex 1st M g gu red 105_xo*
Paragould Southeastern 1st M $5,000,000
1,223
Value
1891
106
1902
1912
1910
37
gu
1913
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*
1914
—
1914
1916
—.
Guaranteed Bonds, &c.—
Gray's Pt Term 1st M guar p & 1 gold
SSt.xc&r
1st Ref AExt M$4,000,000 g red text gu p&lEq.xo*
Cen Ar&E 1st M $3,000,000 g red 105 text SSxc* &r*
"45
Shreveport Bdge & Term 1st M $500,000 g gu
x
St 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-xxFCz
St Paul Eastern Grand Trunk—See Chic & North West
St Paul & Kansas City Short Line RR—See Chicago R
St Paul Union Depot—First M gold, Int as rental-—*
Consol mtge gold ($100,000 are 4s), lnt as rental —z
1st & Ref M $20,000,000 g gu (V 104, p 2344)
Guar Gold notes $8,000,000 g callable at 101 —vc*
Salt LC Un Dep & RR—1st M $1,500,000 g red-Ba-.x
Salt Lake Qar & West Ry—1st M $600,000 call 104CC
Second mortgage $200,000 authorized-—...
1,000
1,000
1,000
1,000
1,000
$1,000
1908
1916
Too
1918
729
&c
l.ooo
lOO&c
■
1,000
1893
1917
■
—
mm
318
Receiver's certificates $250,000
1919
T566
1913
1,000
A
&
J
I"
S*
&
j
&
N Nov 1 1989
J Nov 1 1989
D June 11932
J Jan 1 1952
J July 11940
1917
San Francisco & San Joaquin Valley—See Atchison T opeka & Sant
San Joaquin St Eastern—1st M gold red text
1912
c»
61
lono
San Luis Southern Rv—First mtge SI ,000.000 gold
32
a
j""&~D
Income Account for
1918, based
on
estimated
1918.
-
$3,426,233
$3,951,776
Federal compensation:
1918.
Other interest..
Other
Rents, Ac
Balance, surplus
Int.
x
funded debt
on
_
As certified by I. S. C.
385,455
2,265,018
$26,492
1,144,207
$860,652
Commission.
OFFICERS.—Chairman, Edwin Gould, N. Y.; Pres., J. M. Herbert,
St. Louis; Vice-Presidents, Dave H. Morris, Col. F. W. Greene and N. B.
Burr; Sec., Arthur Trussell; Treas., G. K. Warner; Aud., R. D. Cobb,
St.
Louis.
T'v..V
T. -i;
(Chairman), Dave 0. Morris, A. J. Hemphill,
w
Directors.—Edwin Gould
Winslow S. Pierce, David H. Taylor and V. Everitt Macy, New York; Mur¬
Carleton, J. M. Herbert and F. W. Green, St. Louis.
Office, Ry. Ex¬
ray
change Bldg., St.
1749, 2193.)
ST.
ST
Louis; N. Y. office, 501
Fifth Ave.—(V.
110, p.
168,
v..
LOUIS TROY & EASTERN
RR.—See
page
PAUL.—See Chioago Milwaukee A St. Paul.
139.
yM';v\
★ ST. PAUL BRIDGE a TERMINAL RY.—Owns 2.31 miles of right-ofway from St. Paul terminals to stock yards at South St. Paul, with receiv¬
ing yard and other tracks; total, 7.57 miles.
V. 104, p. 953.
Compensa¬
tion under Federal control, $67,509 (contract signed Jan. 1
1919).
Deduct
fixed charges (est.), $42,195; bal., sur., $25,314.
V. 108, p. 1611.
Bonds (auth. $500,000), see table above and V. 104, p. 953.
For year
ending Dec. 31 1919, gross earnings were $436,512; net Inc., after taxes,
$54,417; rentals, interest, &c., $42,195; sur., $25,314.
Pres., L. F. Swift;
V.-P. & Gen. Mgr., T. E. Good; Sec., A. A. McKechnie; Treas., J. M.
Lindsay.
Office, South St. Paul, Minn.—(V. 107, p. 697; V. 108. p. 161T.)
★ (THE) ST. m*iJL UNION DEPOT CO.—Owns
UnionlPassengertStation
with 9.54 miles of track and is building a new station, Ac.. to cost about
$11,000,000, which will be ready for use by Feb. 15 1920, but the concourse
will not be complete for at least 2 years.
V. 109, p. 1987; V. 107, p. 1838;
V. 105, p. 2543; V. 104, p. 560, 2119; V. 100, p. 641.
Great Northern, Northern PaciQo, Chlo. St. Paul Minn. A Omaha, Chic.
Mil. A St. Paul, Chio. Great Western, Chlo. Burl. A Quincy, ilinn. St.
Paul A S. Ste. Marie, Minn. A St. Louis and
the Chlo.
R. I. A
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..
344" V
105 p 2543
Guaranteed jointly by the nine proprietary companies. V. 104, p. 2119.
The
$8,00(5.000
5-year 5% gold notes sold in Dec. 1918 (V. 107, p. 2477)
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 Hens being the $500,000 bouds 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
are
York,
New
&
York
London,
and
St
&c
Louis
A To Feb
&
O
Apr'20to Apr'24 Guaranty Trust Co, N Y
*20-Sept'26
0ff
j
a
D Deo
11947
£'
F
A
A
5 g
j
a
£*
5 g
F
a
j
A
5 g
m
&
6*
"
j
A
-
N
do
do
Y, Eq Tr
Aug 11956
A St Louis
do
j July 11940
do
Guar
Tr Co. N
Louis, Mo
1 1924
Miss Val Tr Co,
S Sept'20-Sept'22 St L Union Tr,
j Jan 1 1929
First Tr A Sav
A Aug
D Deo
1 1955
Y & St L
St
St Louis
St Louis
Bk, Chic
1,035,000
297,000
Central Union Trust, NY
Northwest'n Tr Co, St P
Jan 1967
5 g
J P Morgan & Co, N Y
j"&d!B Dec 15 1923
MAN Nov 1 1938
Bankers Trust Co. N Y
m &
8 Sept '20 to '41 Cont & Com Tr A S B, Chic
0 g
165,000
See Chro nicle of Nov. 29
82.U00
19J9
1,000,000
4 g
Central Union Trust, NY
j""a""j Jan" Vi943
17.544,000
48,000 (See text below)
A
&
O Apr" T1924*"
v
6 g
Chase Nat Bank, N Y
1.850,000
F
4.413.000
&
A Feb 1 1943
5 g
St Louis. Mo
July Y1957""
1,000,000
1.000
1915.
$4,531,825
$5,438,929
Est.,Govt. compensationx$3,9l0,914
Income
New
M
5
Mar 1 1952
Secur Tr & Sav Bk. Los A
J
5s
«•
327.OOO
-
Dee
Internal,
I 1939
Tr
Co.
Denver
In
1916.
$6,412,789
$7,159,499
Payable
H Office. 501 5th Ave, N Y
Guaranty Trust Co, N Y
Bankers Trust Co, N Y
Equitable Tr Co, N Y
M & S15 Sept
8,000,000
•
1,000
1456.
1917.
$3,748,146
$2,925,536
income, after taxes-
are
June'20-Dec *23 Phlla Tr & Safe
Dep Co
1 1924
U S Trust Co. N Y
F
A
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. 90, 148, 401, 452, 2340; V. 78, p. 2600; V. 82, p. 453.
Jan.
Net oper. revenues—
Where Interest ana
Dividends
Fe
Totaloper.revenues..-$19,588,761 $17,309,656 $13,850,130 $11,275,024
Operating expenses— 15,840,615
10,896,868
9,318,305
7,848,791
Net
Places
1943
225.000
See text
1917
auth..
Diego & Arizona Ry.—Mortgage $12,000,000
San Francisco & Nor Pacific—See Northwest Pao RR
San
1918.
Maturity
:
6 g
MAN May 1 1930
250,000
250,000 4 g & 5 g MAN May 1 1944
As collat
1917
A38
First M $21,600,000 g guar p & 1 (end)— Ce.zo»&r
Equipment trust obligations (on Dec. 31 1919)
San Antonio Belt & Term Ry—1st Mnotes.MESTc
San Antonio Uvalde & Gulf—IstM $13,500.000-gx
Calendar Years—
I*
&
J
1,085,000
450,000
500,000
72,000
$400,000
1,000
1.000
1880
1894
19
100
p.
and
I & P
...
1918, V. 109,
Last Dividend
Apr 151914.
M
J
See text
500
1909
Car trusts Ac notes
year
Payable
500,000
1897
1906
1910
1905
1904
San Antonio & Aransas Pass—Stock——
REPORT.—Report for cal.
When
%
4tfg
1915
16
Rate
$100 $16,356,100
100
19,893,650
1,000
20,000,000
500 Ac
3,042,500
1,000 21.591.750
1,000
8.155,000
1,000
2.607.000
Bee text
1,000
1,000
231,000
1,000
153,000
320,000
1,000
273,000
1,000
1891
1,223
1.271
Amount
Outstanding
Par"
Miles
endorsed with
EARNINGS—
Gross:—
Net
—
—
Dec. 31 Year—
1 -Mar.
31
1919.
1920.
—
$1,074,804
def.304,338
Gross.
Net.
$984,916
def.217,239
"
Jan. t-Dec. 31
1919.
1918.
$4,516,590
def.908,964
Olh.Inc.lst M.Int.
$4,370,334
def.39,995
Olh.Int.
Deficit.
-4,516,590 def$l,084,826
$979,280 $ 4,017 $1,805,504
4,178,191
464,403 1170,910
701,760 275,377
341,824
1919
1917
Pres., W. H. Mclntyre, N. Y.; Aud., J. W. Terry, San Antonio, Tex.;
Treas., Iladen F. Smith.—(V. 110, p. 466, 1416.) ■;
★ SAN
ANTONIO BELT
& TERMINAL
RY.—Organized
May 2 1912
with $175,000 capital stock, all owned by Missouri Kansas & Texas Ry.,
to own freight and passenger terminals at San Antonio, Tex.
See report of
Mo. Kan. & Tex. Ry. Co. in V„ 101, p. 1816.
Property leased to the re¬
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. & 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 101M 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, 139U
ceiver of the M. K. A T. Ry. Co. of Texas at a rental
★ SAN ANTONIO UVALDE & GULF RR.—Owns San Antonio, Tex., to
Crystal City, 144.6 miles; Uvalde Jet. to Carrlxo Springs, 52.90 m.;
Pleasanton Jet. to Corpus Christi. 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
now 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 issue of $250,000
authorized, $225,000 sold,
$25,000 still with Treasurer.
For year 1917, gross, $843,687; net, $254,985; other income, $9,578;
Int. on receivers' certifs.. $10,577: rents, Ac.; $92,805: bal. avail, for bond
int., Ac., $161,181.—(V, 107, p. 1005, 1194.)
A SAN
DIEGO
&
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 Sept. 1919 not in Federal control.
In
1916 the
Southern Pacific Co. agreed to join with John D. Spreckles in
on completion to operate it.
In Dec. 1919 authorized
completing road, and
to issue bonds and
prof, stock in payment for
moneys
advanced for construc¬
Description of
V. 106, p. 1127; V. 107, p. 604, 1194; V. 110, p. 79.
tion.
line, V.
108, p.
172.
i
1917 obtained authority to purchase physical properties of the
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 Dec.
San
Oct.
In
1918
the
Calif.
RR.
Comm.
authorized
execution
of
a
mtge.
authorized, $1,000,000; outstanding Dec. 31 1917, $932,400; par,
cover int. on bonds. &c.. and 4% on stock since May 1 1901.
May 1901, 6% divs. were paid.
Pros.,E. Pennington; Sec.,
Charles Jensch.—(V. 107, p. 697, 1838, 2188, 2744; V. 109, p. 1987.)
securing $12,000,000 6% bonds, due July 1 1957, and also the issue of
$7,289,088 of the bonds.
In Nov. 1919 applied to the California RR.
Commission for authority to issue $710,912 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.
Pres., John D. Spreckels,
V.-Pres., R. C. Gills; Sec., L. J. Masson; Treas., W. G. Daniels; Gen. Mgr.y
D. W. Pontius.
Office, Sprockets Bldg., San Diego.—(V. 110, p. 79.)
★ SALINA NORTHERN RR.—Foreclosed and in 1918 acquired.
Com¬
pensation under contract for Federal operation, $15,000.—(V. 107, p. 1482,
2188; V. 108, p. 1166.)
A SAN JOAQUIN & EASTERN RR.—El Prado. Cal.. on the Southern
Pacific, to Cascada, on Big Creek, Cal., 55.9 miles: sidings, 5.12 miles.
Stock, $1,000,000, all owned by South. Cal. Edison Co.; par $100.
Bonds
p
|.§3S
Stock
$100.
Rentals
From 1881 to
★ SALT
LAKE CITY
facilities
at
UNION
DEPOT & RR.—Owns union depot and
City, opened Aug. 20 1910.
Stock, $200,000.
equally owned by Denver A Rio Grande and Western Paclflo, which jointly
guarantee bonds, prin. and int.
Bonds are subject to call at 105 on and
after Nov. 1 1923.
See table above.
(—V. 91, p. 523 Y 107, p. 1101.
Salt
Lake
A SALT LAKE GARFIELD & WESTERN RY.—Salt Lake to Saltair,
Beach, Utah, Ac., 15 miles.
V. 65, p. 824.
In Aug. 1919 electrification of
line
completed, only electric power now used.
The 1st M. is limited
to $600,000 issued, $300,000 paid off, $3,090 call at 104 and int. on any Int.
date in reverse of numerical order.
Remaining bonds are issuable for 80%
of cost of extensions, Ac., when net earnings are twice the interest charge,
including the additional bonds.
The Salt Air Beach Co., an amusement
resort, 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 1919, gross, $150,208; net, $66,406; deductions,
$45,826; bal., sur.,
$20,580. Year 1918, gross, $114,419; net, $2,200: other income, $14,758;
interest, Ac., $12,978; bal., sur.j $3,980.
See full particulars in "Chron¬
icle" of Nov. 29 1919.—(V. 105, p. 608; V. 106, p.
2011.)|
was
★ SAN ANTONIO & ARANSAS PASS RY.—Owns from Kerrville to Houston, 309 miles; Kenedy to Corpus Christt. Tex.. 88 m.; Yoakum to Waco,
171 miles; with branches, 156 miles; total, 729.29 miles.
Federal
Contract.—Signed in Jan.
1920,
fixes annual compensation
at
$456,684.
The U. S. RR. Admin. In May 1918 sanctioned
capital outlays of
and in July advanced the company $200,000.
V. 107, 0. 1344.
$88,752
BONDS.—Mortgage Is for $21,600,000 (trustee. Central Trust Co.), and
on each bond, guarantees, uacondltion
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
mile equipped.
Abstract of mtge., V. 56. p. 540.
Notes owned by Sou
Pac. Co. Jan. 1 1919, $5,807,819, and $3,898,000 4% incomes due July 1
1920.
the Sou. Pao. Co., by endorsement
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. A. Percey;
Sec., O. V. Showers; Compt., A. N. Kemp.
Office, Los Angeles, Cal.—
(V. 99, p. 1836.
A SAN LUIS SOUTHERN RY.—Owns Blanca, Colo., on Denver A Rio
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 1918, gross.
$31,767; net, after taxes, $173; interest, Ac., $19,194; bal., def., $19,021.
Grande to Jaroso, on
Pres., Chas. E. Gibson; Sec., H. Alexander Smith; Treas., Chas. A. Robin¬
Office, San Acacio, Colo.
son,
s
A SANTA MARIA VALLEY RR.—Bettaravla to Roadamlte, Oal., 18 m.;
leases Guadulupe to Bettaravla, 5 m.; total, 23 miles.
Has traffic arrange¬
ment with Southern Pacific Co., which owns one-half of bonds.
V. 101,
p. 132.
Stock. $300,000; par, $100.
Bonds, $200,000 1st 20-year 9?,
sinking fund 6% gross earnings yearly;
redeemable after 1915 at 105.
For year ended Dec. 31 1918, gross, $96,423; net, after taxes (incl. war
taxes, $4,293), $27,032; int.. rentals, Ac., $20,909; com. div. (1 2-3%),
$5,000; bal^ sur., $1,123.
In 1917. gross, $106,861; bal., sur., $5,210.
Pres., C. W. Gates; V.-P., C. C. Magenbelmer; Sec., E. J. Miley, Los
Angeles, Cal.; Auditor, J. M. Davis, Santa Maria, Cal.—(V. 101, p. 132.)
★ SARATOGA
&
SCHENECTADY RR.— (See Map Del. A Hudson.)—
Saratoga to Schenectady 21.65 m.
Leased In perpetuity In 1861 to Rens.
assigned to Del. & Hudson, by which it is operated.
Rental. *31,750 per year.
Stook, $450,000.
Divs., 7% yrly. (J. & J. 16).
—(V. 106, p. 924.)
A Saratoga and lease
SAULT STE. MARIE BRIDGE.—Owns Sault Ste Marie Bridge, Includ¬
ing 6,421 feet of main track.
The Can. Pao., Dul. So. Shore & Atl. and
Minn. St. P. & S. Ste. Marie RR. oos. agree to pay for use of bridge an
amount equal to operating expenses and interest and s. f. of debt.
Bonds
authorized, $1,000,000; o. f., $5,500 yearly.
Stock, J 1,000,000.
120
RAILWAY STOCKS AND BONDS
[Vot. 110.
May, 1920.j
Par
Amount
Rate
Bonds
Value
Outstanding
%
Payable
6 g
MAS Sept 11931
7
J
San Pedro Los Ang & Salt Lake RR—See Los Aug •lea & Salt L ake BB above
1911
18
$175,000
$1,000
Santa Maria Val RR—1st M $200,000 g red 105 -c»
Santa Fe Prescott & Phoenix—See Atchison Topeka & Santa Fe
Saranac & Lake Placid—See Chateaugay & Lake Placid
100
450,000
Saratoga & Schenectady—Stock, $450,000 guar 7%-1887
900,000
1,000
Sault Ste Marie Bridge—1st M gold s f drawn 110--xo
1910
865,000
1,000
Savannah 8c Atlanta Ry—BrmsonRy lstMg._Fxc»
1917
500 Ac
144
2,500,000
1st & Consol M $5,000,000 conv par call 105-Fr.c*
1917
600 Ac
500,000
Pt W Ter Corp g notes $1,000,000 not gu.xxxxFr.c*
Savannah Florida & Western—See Atlantic Coast Lin e RR~
1903
185,000
33
1.000
Sav & Statesboro—1st M $500,000 gu p & I (end).xo0
1902
600,000
l.OOO&c
Savannah Union Station Co—-1st M $600,000 g—G.xr
Schenectady & Duanesburg—See Delaware & Hudson Co
Schuylkill & Juniata RR—See Pennsylvania RR
49
1898
600,000
1,000
Schuylkill & Lehigh—First M guar Reading Co —kv
50
576,050
Schuylkill Valley Navigation & RR—Stock
100
37,019,400
Seaboard Air Line Ry—Com Btock $40,041,000
100
23,894.100
Pref 4-2% (non-cum) and partlo. $25.000,000
100
37,300
Pref stock 6% non-cum & participating $2,280,000All
1900 1,000 Ac ql2775,000
Flrst mtge gold subj to call (see text) — _CoBa.xo&i
1,000 rl9,350,000
Refunding mtge $125,000,000 red 105—N.xo*Ar* 2,980 1909
1915
1,000 &c s27.777.500
1st & Cons M $300,000,000 serA caH107H Q.c*&r* Text
1909
1,000 25.000.000
Adjust M(5% cum Int) $25,000,000 red par.FBa.xc*
1917
4,000,000
1,000
Secured gold notes call 100X
c*G
Divisional Bonds and Equipment Trusts.
197
1903
5,910,000
1,000
Atlanta-BIrm Division 1st M $10,000,000-.Col.xo*
1904
66
755,000
1,000
Florida West Shore first mortgage gold-x
1911
225,000
Equipment mtg gSer N due $75,000 s-a red 102 H -X
1911
515,000
do
do g Ser O due$103,000s-ared 102^-X
1913
665,000
1,000
do
do g Ser P due $95,000 s-a
Eqx
1914
648,000
1,000
do
do g Ser 6 due $72,000 s-a (V98,pl695)
1916
332,000
1,000
do "R" due $25,000 and $26,000 s-a —QP.c*
1917
960.000
do
do "S" due $60,000 s a
1,000
1899
267
3,000,000
Carolina Cent 1st cons M gold guar p & 1 (end)
1,000
.Fx
42
1888
100,000
Durham A Northern first mtge $150,000—MeBaz
viz.
q
$27,00 0,000;
A SAVANNAH & 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
Ry. Co., comprises about 3,000 acres 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.
William Morris Imbrle A Co. of New York
are
interested.
STOCK, Ac.—In July 1917, to purchase the Savannah A Northwestern
Ky., 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 cunulative 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'
the $865,000 Brinson By. 5s and $46,198 equipment trusts, and
created a new $5,000,000 First A Consol. Mtge. to the Franklin
Trust Co. 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 Y, 104, p. 2642.
Port Wentworth Terminal notes (not guaranteed) V. 105, p. 2189.
In Sept. 1919 was authorized to issue $145,125 of equipment notes to
purchase 3 locomotives and one locomotive crane. Y. 109, p. 1180.
Chairman, James Imbrie; Pres., Frank 8. Gannon, New York; V.-Pres.
John Heard Hunter; V.-Pres., C. E. Gay Jr.; Bee., R. M. Hitch; Treas.
William Morris Imbrie Jr.
Office, Savannah, Ga.—(V. 110, p. 1090.)
except
there
was
A SAVANNAH & STATESBORO RY.—Owns Cuyler to Statesboro, Ga .
32.6 m.; trackage, Cuyler to Savannah, 20 m.
Stock, $200,000, all outs'g.
Has traffio agreement with Seaboard Air Line, which guarantees bonds
by
endorsement,
V. 75, p.
Co..
trustee
Form of guaranty, V. 81, p. 614.
Loans
and
principal
1303; V. 77, p. 695.
Savannah
Interest;
and bills payable Dec. 31 1919. $30,936EARNINGS.—For year ending Dec. 31
Trust
1919, gross, $79,927; net, $1,262;
interest, $10,570.
In 1918, gross, $71,692; net, after taxes, $7,037; int.,
rentals, Ac., $16,977; bal., def., $9,939.
Pres., A Treas., J. Randolph
Anderson, Savannah; Sec., Thomas F. Walsh.
Office, Statesboro, Ga.
—(V. 93, p. 1464.)
★ SAVANNAH UNION STATION CO.—Owns union pass, station and ter¬
Savannah, Ga., with 8 m. of track. Leased by the Southern Ry
Fla. & 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.^
minal at
Sav.
★ SCHUYLKILL A LEHIGH RR.—Owns from High's Farm, near Reading,
Pa., to Slatlngton, Pa., 48.96 m.; total traok, 57.93 m.
In 188C leased to
Phlla. & Read, for 999 years.
Rental. $27,000 yearly and taxes. Reading
Co. 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, 5.26 ra.; total track, 29.70 m.
Leased July 25
1861 for 999 years to Phlla. A Read.. RR.; assumed by P. A R. Ry. Deo. 1
1896.
Rental, $29,450, which has paid 5% on stock (JAJ) and State taxes.
★ SEABOARD AIR LINEIRY.—(S«Map.)—'This System Includes a line
from Richmond to Atlanta, Birmingham, Charleston and Tampa.
On
Dec. 31 1917 was
operating 3,401 miles of road, viz.
3.3931Leased—Maldrim to Lyons, Ga__58
141 Trackage—To Atlanta, Ac
82
Placed in operation on Jan. 1 1918, the new line, Charleston to Savannah,
91 miles.
In 1918 removed the rails on 15Mmiles of road.
V. 108. p. 169.
Mileage owned
Less leased to others
Also
owns a
1-6 Interest in the Richmond-Washington Co., controlling tnc
Washington, D. C. (V. 73, p. 843), and under
traffio agreement with the Penn. RR. maintains through car service between
N. Y., Phlla., Washington and the South.
In Jan. 1907 the entire stock of
road from Richmond. Va., to
the Maoon Dublin A Savannah, Macon to Vldalla. Ga., 93 m., was acquired
secured under option, the $1,529,000 5% bonds ($1,840,000 auth. issue)
or
prin. and Int.
V. 84, p. 104, 451.
Also controls the Bait.
a substantial Interest In the Old Dominion SS. Co.
being guar.,
Steam Packet Co. and
Owns majority stock of Chesterfield & Lancaster Ry.,38 m.
V. 89, p. 43.
In July 1912 acquired all the stock of Raleigh A Charleston RR., extend¬
ing from Lumbertoa, N. C., to Marlon, S. G.. 43 miles, aad. through stock
ownership, a 12-m. extension known as the Marion A Southern RR.; aiao
of the Tampa Northern RR., extending from Tampa, Fla., to Brookvllle,
58 miles.
V. 94. p. 49: V. 95. p. 906.
Also guaraatees $7M.000 bonds au4
owns
burg.
stock
of Tampa
V. 96, p. 1425.
A Gulf Coast KB., Tampa, Fla., to St. Peters¬
See caption "Tampa Northern RR."
VOTING TRUST.—The large block of stock purchased by 8. Davles
Warfleld and associates in 1912, and since that time held ia % voting trust,
was
In
1916 placed in a voting trust
expiring June 12 1922, unless sooner
but holders of v. t.c. oouid withdraw thalr stock
Any stockholder may become a party to the
voting trust agreement.
The N. Y. Stock Exchange on Sept. 7 1917 had
listed $14,240,300 com. and $10,266,100 pref. voting true* certificates
Continental Trust Co. of Baltimore Is depositary.
Trustees:
S. Davlee
Warfleld, Chairman, Baltimore. Md.; Samuel L. Fuller, New York: Robert
F. Maddox, Atlanta, Ga.; Charles H. Sabin, New York; C. Sidney Shepard.
New Haven, Oswego County, N. Y.; Frank A. Vanderlip. New York:
Clarence W. Watson, Fairmont, W. Va.; George W. Watte, Durham, N. O..
and Albert H. Wlggin, New York.
V. 102. p. 1988.
terminated by the trustees,
from May 12 to June 12 1917.
MERGER, Ac.—In 1915 the company provided for present and future
requirements through a financial plan (V. 101, D. 528.1189,1273).
CAPITAL
In Treas.
STOCK
Common Stock (par $100)
Held by Pub
$3,021,600
issued [without prefer¬
another] as follows:
$37,019,4U(J
of
one
part over
2,235,800
37.300
1,105.900
23,894,100
(o) As 6% non-cumulative preferred
(b) As 4-2% non-cum. pref., I. e., entitled
cum.
pref. dive, at 4%
p. a.,
to non-
(with right of
conversion below stated)
Conversion Right.—To do away with the
mentioned,
the option
is given
division of dividend right above
to holders of all
MAN May 1 1935
J & J 15 May 11935
7
A
&
SB
4 g
J
A
&
J
July 11937
O Oct
11920
A
J Jan
11953
A
O Apr
11952
MAN May 1 1948
A
J See text
pref. stock exchanged
Places
4$
A
4 g
6 g
A
A
M
&
F
A
Up to 5
7
A
O Apr
O Oct
Sec Tr A Sav Bk, Los An
Troy, N Y
Bank of Montreal, N Y
Farm Loan A Tr Co,N Y
Franklin Trust Oo, N Y
do
do
Savannah Trust Co
Guaranty Trust Co.N Y.
Beading Terminal, Phlla
do
1 1950
24
Sept 15 1920
MAS May 1 1933
J
A
J Jan 1 1934
4 g
5 g
do
24
1 1959
S Sept 1 1945
A Oct 1 1949
MA 815
g
Where Interest and
Dividends are Payable
J
Broad St, New York
Broad St, New York
Guaranty Trust Co, N Y
24 Broad St, N Y
Guaranty Trust Oo, N Y
24 Broad St,
Now York
do
do
I
do
do
"21
"22 24 Broad Street. N Y
do
do
'23
'24 Glrard Trust Co, Phlla
do
do
*26
June'20-Dec '27 Com Tr Co, Phlla
'20-Aug
July'20-July
Aug'20-Aug
July'20-July
July 20-July
F A A 15 Aug
P
J
J15
F A A15
J
A
J
Sg
64H
J
J
A
A
A
J
D
J Jan 1 1949
MAN Nov 1 1928
4 g
6
J
.do
A
$33,911,000 s$10,220 ,000; bon ds proprietary c
do
Merc Tr A Dep Co, Bait
os,
$2,950,000
for the present outstanding pref. stock from July 1 1916
1921:
(1) To convert each share of the said prof, stock
and until July 1
into (a) 2-3 of a
pref. stock entitled to 6 % straight non-cumulative dividends but
calling for the same amount of cash required to pay 4% dividend on the
converted stock, and (6) 1-3 of a share of common stock; or (2) to convert
each share of pref. stock entitled to 4% and then 2%, dividends into oneshare of pref. stock limited to 6% non-cumulative dividends, thus giving up
one-half the present right to 2% additional dividend.
V. 101. p. 1273.
BONDS.—The new First and Consol. Mtge. to the Guaranty Trust
Co. of N. Y.t as
trustee secures an auth. Issue of $300,000,000 bonds, of
variable Interest rates and maturities.
This mortgage Is a first Hen on the
416 miles of main-line track between Hamlet and Savannah, via Charleston,
Lanes and Georgetown, S. O., and on the lines running from McBee, S. O.,
located on the Hamlet-Columbia line, to Florence. Poston, Sumter and
Tlmmonsvllle, S.O.
The mortgage has no direct lien on the former Sea¬
board Air Line Ry.'s property, but there are pledged under It a majority
($36,661,000 out of $56,011,000 outstanding) or the Refunding Mtge. bonds,
which gives it a collateral lien on 3,057 miles; and also all the stock of
Raleigh A Charleston RR. Co. and Tampa Northern RR. Co., and onethird of the outstanding stock of Tampa Union Station Co., and all Refund¬
ing bonds hereafter Issued will be pledged thereunder; also certain stocks
under option, if acquired.
April 1 1919 $27,777,500 First A Consol. Mtge. 6s were outstanding and
a further $11,169,000 were pledged; $68,787,000 were reserved for refunding
an
equal amount of Seaboard Refunding bonds and various underlying
bonds; the rest of said Issue are to be reserved for betterments, improve¬
ments,
additions
and
extensions,
refunding
or
payment
of liens
share of
on
after-
restrictions.
Of the
__
public and $27,000,000 are pledged as collateral under the Ref. mtge. of
Of the $12,775,000, $12,433,000 are stamped subject to call at 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 andfcertain short-term obligations
and equip, obligations not over $72,076,000; sundry improvements, doubletracking. Ac., $8,424,000; further Improvements and additions at not ever
$2.75(LOOO yearly, $44,500,000.
As part security for this mortgage are
pledged $27,000,000 1st M. 4s of 1900. On April 1 1919 $30,661,000 of the
$56,011,000 Ref. Mtge. bonds outstanding had been pledged under the new
First A Consol. Mtge., as will also all further Ref. Mtge. bonds.
V. 92,
p. 189, 1110, 1179, 1244; V. 93. p. 470, 950.
The Adjustment mortgage bonds
(Issue limited to $25,000,000) are
ertltied to cumulative Interest at 5%, to bo payable as earned In lnstallm°nts
of
1 M %
or multiples thereof,
and are redeemable at par and
a I unpaid cumulative Interest on any Interest date, their lien to be immedi¬
ate y 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 adjustment bonds.
2H% Aug. 1 1910; 1911 to Feb. 1920, inclusive, 5% yearly (F. A A.).
Atlanta A Birmingham division 4s of 1903 ($10,000,000 authorized Issue),
see V. 70. p. 1302; V. 77, p. 647; V. 81, p. 1850.
Equip. Tr. "R," V. 195;
p. 2007;
V. 105, p. 2273.
Florida Central A 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.
NOTES.—The $4,000,000 6% notes due Sept. 15 1919 were extended
to Sept. 15 1920 at 7% (the holders receiving $9 50 in cash at extension)
secured by $6,000,000 First A Consol, M. 6s of 1915. V. 109, p. 1081.
GUARANTIES.—On Dec. 31 1917 the company was Uable as guarantor
of the Athena Terminal Oo. 1st M., $100,000; Birmingham Term. Oo. 1st
M. (Seaboard proportion, 1-6), $1,940,000; Jacksonville Term. Co. 1st M.
(Seaboard proportion, 1-3), $400,000. and 1st A Gen. Mtge., 1-3 of $2,100,000; Macon Dublin A Savannah RR. 1st M., $1,529,000; Raleigh A
Charleston RR. prior lien A consol. mtges., $550,000; Richmond-Washing¬
ton Co. coll. trust mtge. (Seaboard proportion, 1-6), $10,000,000 Savannah
A Statesboro RR. 1st M., $185,000; Tampa Northern RR. notes, $200,000;
Tampa A Gulf Coast RR. 1st M., $750,000, and Wilmington Ry. Bridge
Oo. (Seaboard proportion, X), $217,000.
S. E. Invest. Co. notes. $165,000
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Jan. {-Mar. 31
Jan. 1-Dec. 31
EARNINGS —
1920.
1919.
1919.
1918.
Gross
$13,166,753 $10,40/,686 $41,183,532 $38,923 186
Net
1,860,940
946,023
3,171,715
5,576,313
Compensation Under Federal Control.—Under the contract with the U. 8.
RR. Administration as agreed upon the gross corporate income for the
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 expense?.
The amount al¬
lowed the company by the RR. Admin, additional to the standard return
of
1909.
„
L
.
,
_
^
a
_____.
^
___
$6,497,025, is $423,000, makinga total of
compensation for the ra*^y dtming Federal con¬
this figure and the $7,099,857 is made up of
other corporate income.—V. 109, p. 1081.
REPORT.—Report for year 1917, V. 106, p. 2113, 2131:
under the Federal Control Act,
$6,920,025 as the annual
trol.
The balance between
Calendar
19l7»
Years
OISSdm
NSrelSSSf!::::::::::::::::--.:
TaxesT Ac.
„
1111111
1916.
1915.
$30,345,146 $26,184,487 $22,640,870
$8 627,968 $8,652,5*0
$7,140,281
1,390,087
1,223,581
1,119,604
$7,237,881
$7,428,999
$6,026,677
391,375
460,432
$7,629,257
Tnterest on funded debt
$4,591,358
Other interest, Ac
933,831
Int. on adjust. Income bonds (5%)—
1,250,000
Allotment of discount on securities..
133,426
$7,889,431
*4,375.646
651,774
1,250,000
222,202
403,107
$6,429,784
$3,974,328
650,654
1,250,000
307,553
$720,641
$1,389,809
$247,249
Other income
and after 4% on
the common. to an additional 2 %
J15 July 15 '20, 3
J
Operating Income
Preferred Slock $27,280,000.
ence
r
A
and Maturity
5g
-
Additional amounts outstanding as collateral,
When
5 g
6 g
1ft
q r s
Last Dividend
Date
Road
IFor abbreviations, &c., see notes on first page.]
121
Coatrol.
Miles
COMPANIES
RAILROAD
APrivate
RAILWAY STOCKS AND BONDS
*g™*«
Gross income....
Balance, surplus
.
~
* Government
122
APrivate
RAILWAY STOCKS AND BONDS
Contract.
[VOL. 110,
Control.
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rate
When
Last Dividend
IFor abbreviations, &c„ see notes on first pane.]
Road
Bonds
Value
Outstanding
%
Payable
and Maturity
Seaboard Air Line Ry (Concluded)—
Florida Cent A Penin 1st M ext 1918 at 6% g.Ce.zc*
Second M (1st on ext, 92 m) 15,226 p m g-Mp.zc*
Consol mtge $7,800,000 (*10,000 p m) gold.fljsc*
South Bound 1st M gold Interest rental-MeBa.zo*
Raleigh A Augusta Air Line 1st M
.....—...z
Georgia A Ala 1st M cons $6,185,000 gold.BBa.xo*
Ga & Ala Term Co 1st M callable at 110 guar p A1 Jt
Georgia Carolina A North 1st M gold guar.MeBa.zo*
Raleigh 6c Gaston first mortgage gold
MeBa.zc
Seaboard A Roanoke first
575
666
780
136
107
400
268
"81
mortgage..MeBa.zc*&r
32
Sham Sunb & Lewisb—IstM gu pAl ext 1912kvo*Ar
32
Second mortgage gold
kvc
40
Shamokin Valley & Pottsvllle—Stock guar by Nor Cen
33
Sharon—Stock ($1,600,000) guar by rental text...F
Sharon first mtge gold (Sharon toPymat, Ac) ..Fjc
16
17
New Castle A Shen. V,—First M extended Int guar.x
Shreveport Bridge & Terminal—See St Louis Southwe stern
77
"Sierra Railway (of California)—First mortgage gold.z
77
Second mortgage $860,000 gold
—...z
Yosemite Short Line 1st M $875,000 gold guar ...z
Jliver Spring RR—First M $5,000 due yly Coast Line
kaneateles Ocala & Gulf—See Atlantic gold.. Usm
1st Refunding M $5,000 due yearly
18911
1886
1895
1898
1889
1897
1886
1882
1890
6*
A
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
t g
t g
5 g
A
6
A
"looo
1,000
1,000
1,000
1,000
50
50
A
A
J July I 1923
J Jan 1 1930
J Jan 11943
O
1 1920
1945
1948
1929
July
Jan
1947
1920
July
1*
do
do
24 Broad St. N Y: A Bait
Continental Tr Co, Bait
Broad St, New York
Reading Terminal, Phila
24
1925
N July
A
do
24 Broad St, New York
J Oct
A
4
do
do
do
Continental Tr Co. Bait
Continental Tr Co, Bait
1 1941
D Deo
fe
4
24 Broad St, New York
J Jan
A
A
8 *
8*
fg
J July
A Feb 6
A
5 in'19
A
5H
4H
1,203,650
Apr
A
do
do
1925
1920 3% Broad St Station, Fhlla
S Mar 19203%
Sharon. Pa
D Jan 1 1937
Farmers L A Tr Co, N Y
do
do
J Jan
1 1937
1889
1887
1,000
164.000
1,000
250,000
1897
1904
1,000
1,000
1,239,000
633.000
1905
100
1898
1908
1,000
1,000
40,000
5
F
A
A Aug
15,000
5
F
A
A
100
5
5
104.600
J.
A
J
1903
1887
1,000
1,000
199,000
4,273.000
5 g
4 g
1901
1.000
3.000,000
4 g
11
82
97
e.
;''
g
A
g
8*
5 g
See text
4>*
Crocker
A 12 A O Apr 121937
M 15 AS Sept 15 1944
g MAS
National
do
Bank
do
do
Sept 1 1945
do
*20 to 1927 Q S Mtge A Tr Co. N Y
do
do
Aug '20 to 1937
July 1920
Jan
3% Wilmington, N O
1 1923
July 1 1937
New York A Quitman.Ga
So Pao. 165 B'way, N Y
•
4.64
tout hern Indiana—See Chlo Terre H A Southeastern
outbern Pacific Co—Stock ($394,451,800auth.)...
100 301,472,900
Col) trust mtge gold subject to call par—Un.xc*&r
Conv bonds $82,000,000 gold redeem text..xe*Ar*
1909
1910
1914
Of this $468,000 was owned by Shannon Copp ee Co.
34,218,500
53,815,760,
100 Ac
500 Ac
1917
24,953,300:
In Jan
DIRECTORS.—S. Davles Warfleld (Chairman), J. Wm. Mlddendorf
Townsend Scott and M. J. Caples, Baltimore; Fergus Reid, Norfolk, Va.;
Charles II. Sabin, Albert H. Wiggin, Pieroont v. Davis, S. L. Fuller,
James A. Blair, Franklin Q. Brown .L. F. Loree, Walter T. Rosen, B. F.
Yoakum, R. O. Ream and F. N. B. Close, Robert L. Nutt, New York;
Milton E. Alles, Washington, D. C.: Mills B. Lane, Savannah, Ga.; Robert
F. Maddox, Atlanta, Ga.; J. P. Taliaferro, Jacksonville, Fla.; A. H. Wood¬
ward, Birmingham, Ala.; W. R.
Bonsai, Charleston, S. C.; Geo. W.
Watts, Durham, N. C.; Jas. C. Colgate, Bennington. Vt.
Pres., S. Davles Warfield; V.-P., M. J. Caples, W. L. Seddon; Treas. &
Sec., R. L. Nutt
General office, Baltimore, Md.; N. Y. office, 24 Broad
St.—(V. 110, p. 971. 1090.)
★ SHAMOKIN SUNBURY & LEWISBURG RR.—(See Map Reading Sys¬
tem.)—Shamokin to West Milton, Pa., with iron bridge over the Susque¬
hanna. 32.11 m.r second track, 14.82 m.; total of ull track, 59.23 m.
Leased
to Phila. A Read. July 21883 for 999 years at 6% on the stock, int. on bonds
and taxes.
Lease assumed by P. A 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 6s due May 11912 were extended at 4% to July 1 1925 and guaranteed
pria. and int., by Reading Co., V. 94, p. 1120.—(V. 94. p.1120.)
★ SHAMOKIN VALLEY & POTTSVILLE RR.—(See Maps Pa. RR.)—Sunbury, Pa., to Mt. Carmei, Pa., and branches, 39.74 m. Leased Feb. 27 1863
for 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 lease
Assumed In 1914 by the Penn. RR. Co.—(V. 97, p. 1735.)
MAN Nov 1 1951
6
500 AO
1.000 A c
1,000
1899
1909
Gold bds $100,000,000 call 105 since July '12 . ..0.x
S. Fr.Tenn. 1st M. g call 105 since '15U»mxe*Ar*
Oonv bonds $55,000,000 e call text
yc*Ar»
a
$3,000,000
$1,000
1,000
1,000
1,000
1,000
1,000
1890
1893,
an
Dividends are Payable
RR"""
.....
Somerset Railway—See Maine Central RR
South Carolina & Ga—See Southern Ry Carolina Div.
South Carolina Pacific—Pref stock 6% cum......
South Carolina Western—See Seaboard Air Line..
>uth Georgia—Mortgage $250,000 gold
.z
mth Pacific Coast—1st M gold gu (s f 1912) — .F.zc
South A North Alabama— See Louisville A Nashvill
Southern Illinois & Mo Br—1st M *3,000,000 g.Ba.xc'
1888
Places Where Interest
ig
4 g
227.000
J
A
Bankers
D
Aug 1 1949
165 Broadway,
46,043,500;
A
J
A
A
(1) Controlled; also leased.
O Apr
1 1950
D Jane 11934
Miles.
Central Pacific Ry (see below) .2,289
South Pacific Coast Ry
.....
107
Southern Pacific RR
.3,435
701
Oregon A California RR
Co,
N
Y
(2) Controlled by So. Pac. Co.—Op¬
erated by Cos. owning them.
do
do
New
NewYork
do
do
MAS June 11929
A
J July 11929
4J4 8 J
4g
5g
Trust
July 1 1920 1H Checks mailed
Q—J
York,
London, Ac
Mites.
41
191
(3) Controlled by Morgan's La. <fc Tex.
Controlled as above (Concl.)—
Houston A Shreveport RR....
Houston E. A W. Texas Ry—
Iberia A Vermillion RR
21
Less duplications, &c.
31
(net)—
Total in system Dec. 31 *18.11,085
Arizona Eastern (V.90, p.448)
4,590
378 Steamship Lines
Galv. Harrisb. A San Ant. Ry. 1,381
Other Proprietary Companies—
Houston A Texas Central RR—
887
(x Jointly controlled.)
Louisiana Western RR
208 Southern Pao. RR. of Mexico..! ,241
*507
Morgan's La. ATex. RR.A SS.
401 Northwestern Pacific RR
Texas A New Orleans RR
470
Sunset Railway (H)
_
to
.
Idanho, 1.94
_
*60
865
Hoover, Ore.,
—
Lake Charles A No. Ry
73 Electrlr lines...
In 1918 built from Colusa, Calif., to Hamilton, 12.81 m.;
m.
PROPRIETARY LINES.—These, with a total mtge. indebtedness
31
1918
of
$445,298,790,
are
controlled
through
stock
ownership,
Dec.
only
out of their total capital stock of $346,532,400 not being held on
Dec. 31 1918 by the Southern Pacific Co., along with $109,160,591 bonds,
Ac.
Securities owned June 30 1914, V. 99, p. 1461; V. 96, p. 570, 571.
$70,100
ORGANIZATION.—Organized under laws of Kentucky
Penn. RR. owned Dec. 31'18 $15,653,800and Penn.Co. $11,184,100stock.
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
1917; appeal pending, but case postponed in Oct. 1918.
V. 107, p. 1542,
V. 104, p. 104
)4. p. 1046; V,. 107, p. 513.
As to Union Pacific decision In 1912.
see V. 97,
p. 445,667.
See
Report for 1918 of Associated Oil Co. (controlled). Se< V. 108, p. 1717.
.
★ SHARON RY.—Owns from Newcastle, Pa., via Sharon, to Pymatuning,
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, Ac.
In
1918 to a total of 5M % and In 1919 to 5%.
In Jan. 1919 suit was brought
against the Erie to compel payment of the original rental.
V. 108, p. 380.
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¬
tion with double tracking of the New Castle branch,
V. 108, p. 380.
The New C. A S. V. 6% bonds were extended In 1917 at 4H% int. and
the $164,000 4#s due June 1 1919 until Jan. 1 1937 at 5^%.—(V. 108,
270, 2023; V. 109,
p.
p.
1274.)
A SIERRA RAILWAY (OF CALIFORNIA).—Owns road from Oakdale
in Stanislaus County, Cal., to Tuolumne, Tuolumne County, 56.5 ra.; James
town to
Angels, 19.3
m.;
total, 75.8
m.;
yard, Ac., track, 8.6 m.
Bonds, V. 79.
Stock authorized, $5,000,000; Issued, $3,248,000.
p.
270.
For year enalng Dec. 31
1919, gross, $415,258; net, $126,078; other in¬
$3,629; interest, Ac., $155,362; bal., def., $25,654.
Pres., R. H.
Downes; Sec., J. T. Bullock; Treas., C. N. Hamblin, Jamestown, Cal.—
(V. 92, p. 643, 957; V. 100, p. 1438.)
come,
★ SOUTH CAROLINA PACIFIC RY.—North Carolina State line to Bennettsvllle, S. C., 10 58 miles
Common stock, $100,000. $82,200 being
owned by Atlantic Coast Line RR., which leases the road for a term of
years from Jan.11915 ait a rental sufficient to pay6% yearly on $104,600
cuun. pref. stock and dividends on the
$100,000 common stock as follows:
3% for 3 years ending Jan. 1 1918:4% for 4 years ending Jan. 1 1922, and
5% thereafter to end of lease.
The pref. stock is convertible with all ac¬
cumulated dividends, at option of holder at
par Into any bonds that may be
Issued and would rank ahead of the
V. 99,
p.
1675; V. 100,
p.
pref. stock either
142.—(V. 100, p. 142.)
as to
prin. or divs.
A SOUTH GEORGIA RY.—Adel to Greenville, Fla., 51 miles; 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 is
operated by Its own officers. Y. 107, p. 2290, 2478. Stock,
£3,\pvJL72-, ^Dividends paid in 1908-09, 20%; in 1909-10,
1910-11, 25%; in 1911-12. 35%; in 1912-13, 45%; in 1913-14
1916'
42
*>%; PI*. 6%; 1919,473^%.
$58,000.
30%; in
50% in
Year ended
Pec* 81 1919, gross, $299466; net, after taxes, $44,085; interest, rentals,
Ac., $38,633; divs. (47xk), $27,405; bal., sur., $16,681.
Pres., J. W
Oglesby.—(V. 83, p. 1172; V. 107, p. 2290, 2478.)
★ SOUTH PACIFIC COAST RY.—Elmhurst to Santa Cruz, with branches
total, 107 miles; ferry, 3 m. Leased for 55 years from July 11887 to South¬
ern Pacific Co., which guarantees the bonds and owns all the
$6,000,000
stock.
Year 1917, gross, $1,544,523; deficit, after oper.
exp. A 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 ft*. Pac., $531,068.
★ SOUTHERN ILLINOIS A MISSOURI BRIDGE CO.—Owns bridge (and
4.64 miles of track) across
all
Mississippi River at Thebes, III. Stock, $50,000,
outstanding, equally owned by tne St. Louis Iron Mountain A Southern,
St. 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. 11901 for use of the bridge, under which they agree to meet all
chargez.
Pres., W. J. Jackson; Sec. A Treas., F. P. Johnson.—(V. 107, p. 402.)
SOUTHERN NEW ENGLAND RY.—See Central Vermont Ry. and
106, p. 2758; V. 102, p. 1718; Y. 96, p.
V. 110, p. 1416; V. 107, p. 2009; V.
1841.
★ SOUTHERN
PACIFIC COMPANY.—(See Map page 120.)—This
oom-
§any owns only throughin fee (operated by Oregon A California RR., Ac.),
ut principally 537 m.
ownership of stock. It controls a great system or
roads extending from San Francisco to New Orleans
(thence by company's
steamers to
N.Y.,Ac.) and to Portland, Ore.,to Ogden, Utah, with branches.
System comprises the following, mostly described under their own cities;
Oil land decision, V. 98, p.
1994; V. 99, p. 1461; V. 100, P._399, 734, 2011;
513; V. 109, p. 889, 1988, 2172;
Land grant suit, see Oregon A California and V. 103, p.
1222; V". 104, p. 1703; V. 107, p. 513.
in 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
and branches.
V. 104, p. 74; V. 105, p. 2367; V. 107. p. 514.
Southern Pacific RR. of Mexico, incorporated 1909 with $75,000,000
stock (all owned Dec. 31 1918 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 been
completed Dec. 31 1918
In Dec. 1910 obtained additional concession
from Guadalajara to Mexico City.
V. 83, p. 1536; V. 84. p. 1141; V. 80,
p. 350; V. 87, p. 414: V. 88. p. 303,.1622*LV. 91,^1645, 1770.
303, 1622;V. 91, p. 1645.
The prin~
cipal and interest advances to Southern Pacific RR. of Mexico to Dec. 31
1918 amounted to $73,263,301.
Northwestern Pacific RR. (Jointly owned
with Atchison), see that company.
In Apr. 1919 under Federal management, 182 miles of parallel road of
this system and Western Pacific RR., were being used as one double
tr&ckrosd
V 107 p 1921
V. 103, p. 1221; V. 106, p. 2123; V. 107, p.
V. 110, p. 1090.
ELECTRIC RAILWAYS.—The electric roads controlled include (a)
Pacific Electric Ry., 612 miles of electric interurbau 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 Elecric RR
36 m. and (e) Fresno Traction Co., 27 m.
See "Rlec. Ry. Sec."
.
CAPITAL
there
STOCK.—Against the common stock of Southern Pacific Co.
deposit with Union Trust Co. of N. Y. on Dec. 311918, stocks
(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., $124,671,861; Texas A New Orl. RR.,
$4,997,500; total, $164,978,961.
was on
of subsidiary companies as follows
DIVIDENDS.—
\Oct. '06-Apr. '07. July'07. Oct. *07 to July'20
(Common stock)
/5% yrly. (2X 8.-a.)
1 H%
6% yrly. (1X quar
BONDS, Ac.—The funded and other Interest bearing debt of Southern
Pacific Co. on Dec. 31 1918 aggregated $201,189,710; of proprietary co.,
$445,298,790; total, $646,
,488,500, held as follows: In hands of public.
pul
$544,298^283; owned by Southern Pacific Co., $87,342,216; owned by pro¬
prietary co's, $2,544,000; held in sinking funds of proprietary co*s, $12,304,000.
Or the So. Pac. securities Union Pacific owned (with others),
$6,399,000 Cent. Pac. stock collateral 4s; $6,000,000 Sau Fran. Term. 1st
4s, $1,586,000 equipment trust 4due 1919 26, and $14,568,000 So. Pac.
RR.
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. 3i 1918 were secured by $67,274,200 common and $17,400,000 pref.
are
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:
(a) Stocks: Houston E. A W. Texas, $1,919,000; Hous. A Texas Central,
$9,998,300; Morgan's La. A Tex. RR. A SS. Co., $10,000,000; Oregon A
Cal. RR. com., $6,900,000, and pref., $11,991,000; So. Pac. RR.. $35,000,000; So. Pac. Term. Co., $1,999,500.
(b) Bonds: Galv. Har. A San
Ant. Ry. 1st M. East Div., $4,728,000, and 2d Div., $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 stock 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 to June 2 1919.
V. 109, p. 285; V. 88,
p. 507, 1062; V. 89, p. 44. 105.
On June 8 1909 the directors authorized an Issue of not exceeding $100,
000,000 4 H % 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. stock; no others Issued.
V. 88, p. 1501; V. 89, p. 1420.
'San Francisco Terminal" bonds ($50,000,000 auth.; Int. rate 5% or less)
cover Bay Shore line and terminals; $24,916,300 4s outstanding, $63,700 can¬
celed.
V. 90. p. 373. 448.1555, 1615. 1678; V. 91, p. 1631; V. 92, p. 1180.
The $46,093,500 5 % 20-year convertible bonds sold In 1914 were made
convertible at option of holder at any time on or before June 1 1924 into
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PROPRIETARY COMPANIES
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Steamship Lines
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■
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Sanchez
I
O
Date
Par
Amount
Road
first page.]
Bonds
Value
Outstanding
Pacific Co (Concluded)
Southern
Eq tr Ser A
1913
1913
$1,012,000 yty call 102)4 beg 1918-xc*
$201,000 yiy call 102)4 beg lS18-xc»
do
$117,000 yly call 102)4 beg,1919....
do
$511,000 due yrly; call 102 )4 beg 1921
Sonthern Pacific RR—Stock $160,000,000 auth-.
So Pac Br 1st M gold s f $50,000 1897 not drawn —x
First Oonsol mtgeguar gold ■ t not drawn_Ce.xo* Ar
Nortnern Ry (Cal) oonstnow 1st) Mgold.Un.zo*Ar
Northern California first mortgage gold
*
Ser B
Ser O
SerD
Mjr gu red 105 since 1910
Eq.xo*Ar*
Coast Ltn# Ry 1st M (owned by So Pac Co)
Southern Railway—Common stock $120,000,000....
Preferred 5% non-cumulative $60,000,000
First Ref
$1,000
1,000
1,000
1,600
1914
1916
100
240
1887
1.685
1893
1888
377
54
1905
500
Southern Railway Issues—
KX)
e($ 120,000,000) Ce.xc* Ar
First Cons M 1st on1900 m e($120
n M
Development & Gen M ($200,000,000) g..G.xc*&r
($200.
half share G.xo*Ar
Ohio)
Q.xc^Ar
Three-year Secured Gold Notes call 101_vvvCCc*&r
Equip tr series L g due $300,000 «.a. FA A— „FP.xo»
Scries O gold due $75,000 M AN.
.PePx
Series P gold due $75,000 J A D
PePx
Series Q gold due $75,000 J A D
—.—PePx
Serlsa R gold duo $88,§00 F & A
Pe.Px
Socio* S gold duo $215,000 A A O
PePy
Series T gold duo $235,000 M Ac N
PoP
Series U gold duo $255,000 MAN 15
PeP
A—Properties Merged in Southern Railway Co.
Georgia Pacific first mortgage
Ce.zc*
4,943
1894
1906
1902
1901
1919
1906
1911
1911
1912
1913
1914
Monon Joint M red 105 «lnce 1907
since 19(
Col M % $9,500,000 s f (Mob &
—
566
1882
Virginia Mid—Mtgos D due 1921; B, 26; F. '31—z
Cez
General mortgage
Wash Ohio A West 1st M
—
b Also In Sept 1919 $43,500,000
Cer
pledged to secure
100
this company.
to
See article on page 3.
Federal Compensation.— $47,559,989
109.
p.
yearly during Federal control.
Pacific
Galveston
Harrisburg
San Antonio
A
—
Houston E. A W. Texas.
Houston A Texas Cent..
EARNINGS—
1919.
1920.
$37,404,560 $29,103,893 $129787,811 $126574,296
6,933,905
2,457,202
16,042,999
34,763,871
Gross...
Net
REPORT.—Report for 1918 in V. 109, p. 266, 280.
Years ending Dec. 31—
1918.
1917.
1916.
Average miles (incl. non-proprietary)
11,101
11,137
11,009
$
%
s
Transportation operations
221,611,206 193,971,489 163,427,423
Operating expenses and taxes
172,180,729 128,892,678 111,419,223
Net
revenues
Standard return
Miscellaneous operations (net).:
Dividend income
Income from funded securitis, Ac
Rentals, Ac
Hire of equipment..
60,474,281
52,008,200
2,388,652
2,730,732
3,054,306
4,384,005
4,859,237
2,392,873
329,589
1,274,869
23,767,104
260,609
1,707,269
x4,449,926
16,404,509
997,111
Other interest
(war)
Miscellaneous
Dividends paid
Sinking,
(6%)
Ac., reserve
168,316
1,482,081
24,219,075
319,276
538,678
16,369,400
978,097
467,115
16,364,957
957,186
49,190,985
44,074,923
45.543,945
Balance, surplus
11,283,296
31,781,921
18.100,371
x Includes $3,068,047 expenses applicable to a prior period.
DIRECTORS.—Julius Kruttschnltt, 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
Sproule, N. Y.; V.-P. A Asst. to Pres., Paul Shoup, San Fran.; V.-P., Henry
W. de Forest, N. Y.—(V. 110, p. 971, 1090, 1416, 1527, 1974.)
Horace
Robert Gwelet.
★ SOUTHERN PACIFIC RR.—(See Maps.)—About 3,530m., embracing
through line from east bank of Rio Grande River through New Mexico and
via Los Angeles, San Francisoo 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.
Arizona,
Pao. Co. Dec. 31 1918 held all the $160,000,000 stook.
4% In 19O6J07; 13%. 1907-08; 5%. 1908-09; 6% from 1909-10 to
1914, incl.; 5% 1914-15; 6% 1915-16; 1917,6%; 1918,6%; 1919,6%.
STOCK.—Sou.
Diva.:
BONDS.—Consolidated Mortgage of 1894 abstract was n V. 57, p. 104.
The First Refunding 4s of 1905 ($160,000,000 auth. issue) will eventual!?
a first Ilea.
Guaranty, V. 82. p. 49.
The mortgage is a lien subject t*
existing mortgages on the entire owned mileage, which on Aug. 31 1918
consisted of 3,110 miles.
It Is a first lies 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. $6,425,509 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%),
$9,600,000; 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.)
A SOUTHERN
RAILWAY.—(See
Maps.)—System embraces 6,983
miles, extending from Washington, D. O., and West Point and Richmond,
Va.. to Danville, Va., Greensboro, N. C., Norfolk, Va., Charlotte, N. C.,
Columbia, S. O. and Atlanta, Ga., thence northerly to Bristol, Tenn.,
southeasterly to the coast at Brunswick. Ga.,and to Columbus, Miss.
Owned in fee—
Miles.
Alexandria
(near Washington)
Greensboro, N. C
Charlotte, N. 0., to Augusta,Ga
Columbia,S.Co.,toGreenv.,S.C
West Point, Va., to Neapolls
Salisbury, N. 0., to Morristown,
to
Tenn
Memphis to Stevenson, Ala
Bristol to Chattanooga, Tenn..
Coeter to Cumberland Gap,
Ky.
64
Ooltewah Jet., Tenn., to Bruns¬
27f
190
144
179
231
wick, Ga
412
Austell, Ga., to Miss.State line.
261
Atlanta Jet., Ga., to York, Ala.
271
Atlanta, Ga., to Ft. Valley, Ga.
102
E. St. L„ IU., to N. Alb., Ind
265
1,430
Branches, Ao
272
242
Total owned
1 1937
Oct
1 1938
So Pac, 165 B'way, N Y
J
A
A
June 1 1929
Jan
1 1955
M
A
Nov 1 1941
A
A
.4,342
do
do
do
Y
do
(Held by So Pac @o)
O June 301920 2)4 J P Morgan A Co, N v
do
do
O Apr 1 1920
2%
J
J July 1 1994
do
do
A
A
do
4 g
O Apr 11956
J July 1 1952
MAS Sept 1 1938
do
J
A
do
do
do
do
4g
A
New York and Chicago
MAS Mar 1 1922
6 g
A
A Aug '20-Feb '21 Fidelity Trust Go, Phila
4)4 g F
4)4 g MAN Nov *20-May'21 Penn Co for Ins on L. Ac
do
do
J
A
D June '20-Dec *21
4)4
■
g
D June *20-June'22
AA15 Aug'20 toAug'23
do
A
A
do
do
do
F
4)4 g J
A
do
do
do
O Oct
A
Jan
A
5
4
A
do
do
1 1927
Mar'21, '26A'31 Safe Dep A Tr Go, Bait
J P Morgan A Co, N Y
May 11936
do
do
Feb 1 1924
Apr
A
A
1919
98
♦Georgia Midland Ry
•Mobile
A
~
Birmingham RR.-
Mobile, Ala., to Marion Jot—
150
♦Southern Ry., Car. Dlv.—
Charleston, S. C„ to Augusta,
Ga., with branches to Co¬
lumbia, S. C., Ac
Camden,S.C.,to Marion,N.C.
Biltm., N. C., to Alston, S. C.
branches
Other
Co. N Y
J P Morgan A
11922
6 g
5
5
Leased—(•see this oo.)—
Miles
•Atlanta A Charlotte Air Line,
263
Charl., N C., to Armour, Ga.
♦Richmond A Mecklenburg RR.
LeckhartRR.
Elberton Southern Ry
13
Roswell RR
33
Ensley Southern Ry
Other
roads
78
...
Trackage Rights—
Hardeev'e, S. C., to Savan., Ga.
Washington, D. C„ to Alex.,Va.
Stevenson,Ala.,to Chattanooga,
Tenn., Ao
York, Ala., to Meridian, Miss..
17
9
219 Kentucky A Indiana Term. RR.
206 Selma, N.C., to Pinnere Pt., Va.
134 Savannah,Ga.,to Jacksonn, Fla.
192
31
14
51
38
27
8
154
152
114
Other
Total mileage
Dec. 31 1918 .7,102
120
Leased to other companies
Balance oper.
(♦see this co.)—
Dec. 31 1918 .6,983
Gold8b.,N. C., to Greensboro,
Ao.
226
Controlled—operated separately—
Southern Ry. Co. in Mississippi-278
44
Blue Ridge.
Atlantic A Danville Ry.—
Norfolk to Danv., Va.. & br.
278
Tallulah Fells.
Danville & Western
189
HartweU
Charlotte,
♦Virginia AS.
W
58
83
10
Ry
163
41
28
Atlantic & Yadkin
Controlled by Securities—
10
State University RR
North Carolina Midland
54
Yadkin RR
H. P. R. A. A So.
RR
July 11912. Bluemont branch, 54 m., to Wash .A
Old Dominion Ky.
Water linen—Chesapeake 89. Co., 200 miles.
Also nas one-sixth Interest in Richmond-Washington Co., owning line
between Richmond and Washington, 115 miles.
V. 75, p. 449
Has trackage rights over Atlantic Coast Line RR. between Savannah,
Jesup, Ga., and Jacksonville, Fla., 152 m. New 2d track, V. 105. p. 1999.
Leased for 50yeani from
Affiliated—(See each company).
312 Northern Alabama
113
Georgia Southern A Florida
402
1.166 New Orleans A Northeastern
204
In July 1918 the Carolina A North Western RR. (V. 105, p. 605), with
lijes from Chester, S. O., to Edgemont, N. C., 134 miles, was acquired
by Southern Railway interests, but remains a separate corporation, op¬
erated by U. S. Railroad Administration.
V. 107, p. 1670.
Great Southern..
Cincinnati N. O. A Texas Paciflo.337
Mobile A Ohio
i.
ORGANIZATION.—Organ. 1894. V.58,p.363.885.§58.874,1016.1058.
In 1903-04 Jointly with Louisville A Nashville acquired $13,680,300 of
$15,500,000 Chicago Indianapolis A Louisville atook in exchange for
their Joint 50-year 4% bonds.
V. 74, p. 1029, 1090.
the
see;
1916
purchased most of stock of N. O. A Northeastern RR.,
which
also V. 104, p. 74; V. 105. p. 1530
the lines con¬
stituting the Southern Railway system were divided into two greups, viz.;
Lines West—Cincinnati New Orleans & Texas Pacific Ry., Alabama
reat 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, Winsten-Salem,
Columbia, Charleston, Spartanburg, Knoxville, Coster, Appalacbia, AsheEffective Mar.
1 1920, for the purposes of administration,
81
ville,
a
be
Nov
A
do
In
Total deductions
June
A
A
do
Alabama
63,644,315
527,670
700,750
1,909,976
24,278,864
337,427
75,856,844
equipment
Rent for leased roads
Rents, Ac
Bond, Ac., interest
Taxes
65,078,811
2,604,342
Total net income.
Hire of
49,430,477
48,167,343
4,317,197
2,304,208
2,595,502
3,090,031
M
So Pac, 165 B'wav, N
do
do
•North Carolina RR.—
1918.
1919.
A
4)4 V MAN Nov'20-May '26
M AN15 Nov'20-Nov' 26
4)4
Leased
Jan. 1-Dec. 31
do
A
5*
4 g
5.655.000
3,368.000
4,034.000
4,859,000
d 1,025,000
Louisiana
1-Mar. 31
Jan.
do
do
do
(V.
Western
895,178
Morgan's La. A Texas— $1,188,525
Texas A New Orleans
715,136
85,032
3,230,645 Houston A Shreveport
73,494
375,566 Lake Charles A Northern
14,495
1,717,506 Iberia A Vermillion
$38,421,849
1,242,475
-
Arizona Eastern.-.
*20 1)4%
1937
Phila
do
'20-Apr '24
280):
Southern
text Apr 1
O Apr 1
and
do
MAN May'21-May'26
See
office
do
£ g
5 g
1886
403
1,000
60
1884
1,000
Three- YearS ecured U old notes of
Guaranty of Pacific Fruit Express Co. equipments, V. 110, p. 2082.
Equipment trusts issued to Director-General for rolling stock allocated
Y
MAS Sept 1 '20 to '23
A
D Dec 1 '20 to '24
2,820,000
3.315,000
AO
full-paid stock at par and subject to call (as a whole only) on or after
If called, thoy may be converted
June 2 1919 at 105 on 90 days' notice.
up to 30 days prior to call date. V. 98. p. 524,1394,1539,1921; V. 99, p.199.
Equipment trusts. V. 96, p. 1425; V. 97, p. 597, 730; V. 99, p. 1599,1675.
MAS Mch 1 '21 to'23 N
J
1,720.000
1.000
1,000
1882
1881
Dividends are Payable.
60.000)000 See text A
A
4
5,650.200
1,000
1,000
1,000
1916
Places Where Interest and
and Maturity
12000 0000
1,000 Ac 72,809,000
1,000 Ao b61,333,000
6.892.500
1.000 Ao
8.345.000
1,000 Ac
1,000 Ac 25.000.000
600.000
1,000
150,000
1,000
300,000
1,000
375,000
1,000
616.000
1,000
1916
Danv deb Mold 5s (no longer Incomes) Cea
RlchmA
4)4
4)4
804,000
585,000
3,066.000
160,000,000 See text
3,533,000
4,127,500
4,751,000
1,074.000
143,846,500
700,000
$3,036,000
100
100
Text
Last Dividend
68 I
Ac
155
MAO stock trust certificates...
When
%
II
II
Ao
1,000
1,000
1889
3,109
500
[Vol. 110.
Control.
Payable
Rate
Miles
COMPANIES
RAILROAD
IFor abbreviations, Ac., see notes on
do
APrlvate
* Contract!RAILWAY STOCKS AND BONDS
124
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-T0. *11. '12.'13. '14 TS'lb'W.'lS.TO.^O,
On pref...J 4
5 y'ly
4
0
2
4)4 5 4)4 none 2)4 5
5 text
In April 1914. 2)4% 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
2)4% Nov. 20.
April and Nov. 1918, each, 2)4%; June and Dec. 1919,
2)4% each; June 1920, 2)4%.
V. 108, p. 1434, 1938; V. 105, p. 1098.
BONDS
AND NOTES.—In Feb.
1917 the plan for the creation of a
V. 103, p. 1593, 2079; V. 104, p. 765; V. 105,
1530.
In Feb. 1919 sold (V. 108, p. 581) an issue of $25,000,000 three-year 6%
notes dated March 1 1919 and due March 1 1922, but subject to prior
Refunding and Impt. Mtge.
.
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 or the proceeds paid $25,000,000 maturing notes.
First Consol.
Mtge. for $120,000,000, abstract, V. 59, p. 783; see V. 81;
1850; V. 84. p. 392; V. 89,p. 1598; V. 92. p. 796; V. 97, p. 300,
V. 99. p. 1834; V. ioo. p. 310; V. 102, p. 610; V. 103, p. 580; V. 107, p.
The $1,000,000 First Mtge. 6s of Ala. Central RR.. due July 1
p.
were
1205;
1921.
1918.
acquired by So. Ry. Co. and pledged under Its first consol ,mtge.
Application of $120,000,000 First Consol Mortgage 5s of 1894.
Issued to Dec 31 1918 (of whioh $154,200 in treasury)
Issuable only toP'prior bonds" (see V. 59, p.
retire certain!stocks (see V 59. p. 786)
785)..
-
-
$72,963,200
41,317,000
5.700.000
Application of $200,000,000 Development and General Mortgage Bonds:
Issuable forthwith and to retire col. tr. 5s ($16,000,000) Apr.'09 $31,000,000
[1)
(2)
To retire prior liens not provided for by eonsol. mortgage..
To retire equipment obligations ma"—'— 1906-21
maturing
To retire
To acquire capital stocks of certain leased linee
For Eastern Division of Tennessee Central (option expired)
_
To
31,158,000
18,008,000
10,000,000
10,000,000
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
thereof of railroads and terminals hereafter acquired
99,834,000
On Dec. 31 1918 $61,333,000 of the Development A Gen. Mtge. bonds
were outstanding and a further $54,374,000 was available for company's use*
including $43,500,000 pledged as collateral for notes.
These bonds, sub-
RAILROAD
Miles
page]
Date
Par
Amount
Rate
When
Road
COMPANIES
[For abbreviations, Ac., see notes on first
Bonds
Value
Outstanding
%
Payable
Southern Railway—{Concluded)—
East Tenn Virginia A Georgia Div mtge g— Unjio*
E T Va & Ga cons M g ($20.000.000)
CejeoAr
1466) -Ce.xo* Ar
&—Southern Railway Divisional Securities.
East Tennessee lien gold
Ce.xo* Ar
Memphis Div 1st M ($8,000,000) gold—a.xc*&r
Aiken Branch first mtge gold (V 68. p 826)
Mpx
552
1,020
66
Knoxville & Ohio 1st M g (V 79. p
1,020
292
24
365
St Louis Division 1st M g $15,000.000—IC.xc»Ar
Mobile & Ohio bonds—See Mobile & Ohio RR Co
C—On Properties Practically Owned by (•) or Leas
Atlantic & Yadkin first mortgage gold gu— Ce.xo*
aRichmond A Mecklenburg 1st M $315,000 g_—jco
aAtlanta & Charlotte—Stock
--
*
ed
1880
1886
1885
$1,000
1,000
1,000
1894
1898
1898
1901
1,000
1,000
500
(a) So uthern R V'
1899
1,500,000
1,000
315,000
1898
1,000
100
1,700,000
1.000,Ac
1914
263
20,000,000
Preferred
stock
Second
100
—
General
mortgage
1,000
1904
1.000
1903
1,000 Ac
1,000 &c
1,000
1,000
1,000
1,000
1,000
1,000
1.000 Ao
1908
209
—
6,933,905
Gross oper.
p.
-Jan.
Year.
Gross Earns.
1919
.$1,248,090
1,011,604
—
353,076
A
II
A
Apr 1 1958
Trust Co, N Y
Equitable Trust Co.
do
do
Trust Co, N
do
Jan
100
5,191,100
5
J
A
Jan 5
354.000
5g
A
A
Oct
A
July 1 1955
July 1 1960
I
1905
4,200,000 2H5g
5 g
644,060
1,000
1,000
1910
1.000
1911
1 -Dec.
do
Y
J P Morgan A Co, N Y
do
do
11995
do
do
11956
Guaranty Trust Co, N Y
'20 2H % Maoon and Savannah,Ga
New Yerk
11937
A
Mcb
1
Amer Exch Nat Bk|, N Y
do
do
Centra) Union Trust.N Y
1961
Jan. 1 -Dec. 31
1920.
1919.
1919.
1918.
$368,518
$205,802
$1,072,680
$912,903
Net
149,945
51,767
341,103
307,702
Pres.. Edmund Pennington; Sec. & Treas., Geo. W. Webster, Minneap¬
olis
(y4 104, p. 2455.)
Jan.-1-Mar. 31
EARNINGS.—
Gross
★ SPOKANE PORTLAND & SEATTLE RY,— {See Map Northern Pacific.)
Miles.
Corporations ControlledRoad Over
(538.27 m.)—
Miles.
Spokane,Wash.,to Portl.,Ore—363.15 Oregon Trk.Rv.(V. 89. p. 666) .156.9
Goble, Ore., to Holiday, Ore., 79.41 Pac. & East. Ry.(V. 108, p.579) 32.9
92, p.
Lyle, Washto Goldendale, W ash42.21 Oregon Eleo. Ry. (V
323; V. 107, p. 2188)
156.26
Warrenton,Ore.,to Ft.Stevens— 3.54
Trackage rights
14.67 United Ryi. (V .90, p. 1397. 1364) 29.82
Lease* Wilbrldge to Goble, Ore.35.29 Great Northern Pacific 18. Co
From Vancouver, Wash., to a point near Portland, Ore., the line Is owned
to an undivided 2-3 by this company and 1-3 by Nor. Pac. Ry.
Jointly controlled by Northern Pacific and Great Northern.
Stock auth.,
$62,500,000; outstanding June 30 1917, $40,000,000, equally owned by
Nor. Pac. and Great Northern, together with the $73,710,000 bonds Issued
.
as
jointly guaranteed and held in treasuries of two companies.
gold 4s of 1911 ($125,000,000 auth. Issue), redeemable at 105
iseuable for oorporate purposes,
$25,000,000 are reserved for acquisitions, stocks and bonds In other com¬
which
were
Of the 1st
and int. after March 11931. $80,000,000 are
panies, and $20,000,000
reserved for fmpts., Scc., at not exceeding $1,800.
a year.
V. 92. p. 886.
In June 1917 company was meeting the
original 1% normal Federal Income tax.
Loans and bills payable Apr. 30.
1918. $2,910,343.
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.—
1920.
1919.
1919.
1918.
000
_
Gross
$2,004,379
585,257
_
Net
$7,275,263
2,070,824
$1,669,763
- 321,874
$8,496,944
3,300.670
RETURN," &c.—See page 5.
In Sept. 1919 contract not executed, but the estimated Government com¬
pensation was $1,871,624; income from investments, rentals, &c., $31,848..
Corporate income account based on estimated Govt, compensation:
"STANDARD
1918.
1919.
1918.
Bond, &c., int.$4,397,720 $4,007,977
$2,096,225 Amortization ,
444,618
444,618
Other income.
54,975
36,815 Misc. expenses
46,677
15,311
Rentals & misc
Balance, def— 1,457,781 a2,793,976
tax accruals.
40,967
115,707
a After
taking into account $2,332 for property adjustment prior to
Federal control, $7,310 foy ". venues prior to Jan. 1 1918, and $333,760 for
expenses prior to Jan. 1 1918.
Pres., L. C. Gilman; Sec., Robt. Crosbie; Treas., M. Barger.—(V. 110,
p. 971, 1416, 1974.)
SPOKANE TERMINAL CO.—See "Electric Railway" section.
1919.
31-
34,763,871
3,422,026
$9,245,704
Office, Macon, Ga.—(V. 110,
A
4 g
73.710.000
Ac
1918.
3,350,458
Int., Ac.
$293,325
329 662
Guaranty Trust Co, N Y
A
p.
139.
5,722
Bankers
July 1 1948
Jan 1 2003
J
DIVISION,—Cayce. S. 0., to
Oth. Inc.
July 1 1948
A
A
J
na
16,042,999
V. 81, p. 156, 1551.
A
J
J
4 g
5*g
1906
East
d'Alene &
For year ended
Govt, compensatlon (est.).$3,417,226
SPRINGFIELD (O.) UNION
Balance.
sur.$77,371
sur. 29,136
DEPOT CO.—(V. 77, p. 770; V.79, 2589.)
STATE LINE & SULLIVAN RR.—Owns Monrpcton. Pa„ to Berenice
Pa., 24.06miles.
Stook, $980,250 (par, $50). Dividend. 1%,paid Deo.7
1904
Mortgage oovers 5,000 acre* 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,
operated by Lehigh Valley.—(V. 74, p. 479; V.
so
$40,000 per annum), and
76. p. 332.)
★ STEPHENVILLE NORTH & SOUTH TEXAS RR.—Owns Gatesville
31.64m.; Edson to Comanche 31.86m., and Hamilton
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.)
to Hamilton, Tex.,
to
★ STONY CREEK
RR.-f-Norristown to Lansdale, Pa., 10.22 miles;
tracks, 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.)
total
of which $176,100 out¬
Bonds, principal and
★ SULLIVAN COUNTY RR.—Road from Bellow*
26.04 miles.
Operated since April 1893 by Boston Sc
Fall* to Windsor, Vt„
Maine as agent under
Sullivan County receiving earnings over charge*
with a minimum guaranty of 8% Btock.
Stock $500,000, owned by Vermont Valley RR.
For year int. Sc
.1917,
gross, $682,036; net, after taxes, $197,902; other inc._^ $30,658,.
rentais, $40,237; divs. (10%), $50,000; sur., $138,322. ■{ir. 105, p. 1414.)
lease of Conn. River, the
PIttsfleld, N. H., 17.55
(merged into Boston
and renewed for
two years at 3% on full capital stock, $341,700.
Operated under same
temporary arrangement on same basis as last renewal, bu subjec
o ter¬
mination on two months' notice by either party.
V. 93, p. 1727, V. 94, p.
280.
Pres., Frank W. Sargeant, Manchester, N. H.—(V. 94, p. 280.)
★ SUNCOOK VALLEY RR.—Owns Sunoook to
miles.
Leased till Jan. 1 1912 to Concord & Montreal
&
Maine system)
for 6%
★ SUSSEX RR.-Stanhone
1909"
2%*
^er.
def:
on
$240,000 of capital stock,
to Franklin. N. J.,
and branch. 301 mile,.
Op.r:
Year ending June 30 1916, grocB, $178,427;
$9,866; other Inc., $3,717; deduc.. $17,830; ml. def. $23,979
1917, gross, $200,233; net, def. after taxes, $42,351,
"1910 to 1918, none.
Fur calendar year
★ SYRACUSE
BINGHAMTON & NEW YORK
N. Y„ tOi
N. Y„ 81 mile*.
Stockholders voted Dec. 6 1911 to lease the1
corporate existence to the Del. Lack. & Western RR. for
12% on the $2,500,000 *tock, of which the lessee at last advises owned
$2 160.600.
Lease took effect Oct. 1 1912.
In the suit of minority stock¬
holders Justice Giegerich in the Supreme Court In N. Y. on Nov. 16 1916
Bingham ton,
road during It*
Net Earns.
$370,696
4
July 1 1952
A SPOKANE INTERNATIONAL RY.—Owns Spokane, Wash., to
1918
iB
Jan
Pend d'Oreille Ry., Coeur d'Alene Jet., Idaho, to Coeur d'Alene, 9.04 m.;
(operation discontinued Aug. 17 1918); Corbin Jet. to Bay View, Idaho,
11.61 m., operated under trackage rights in Spokane 3.67 m., total operated,
156.65 m.
The Canadian Pacific Ry. Co. on Dec. 31 1918 owned $3,941,800 capital stock.
V. 103, p. 1981; V. 99, p. 539; V. 89. p. 594.
The U. S.
RR. Administration in 1919 relinquished control.
V. 108, p. 841.
Stock.
of shares, $100.
J P Morgan A Co; N Y
Apr 1 1946
Feb 1920 3K% Burlington.N C
J P Morgan A Co, N Y
July 1 1945
do
do
July 1 1945
do
do
July 1 1920 2%
May 11929
port, Idaho, on Can. Pac. Ry., 141.37 m.; leases for 50 yrs. Coeur
$4,200,000; par
Dec. 31 1917:
A
4HA5
/
4J4% U S Mtge A Trust, N Y
Central Trust Oo. N Y
July 11944
A
★ SOUTHWESTERN RR. (Georgia) .—Owns Maoon, Ga.. to Eufaula; Fort
Valley to Columbus, Ga., Ao., with branches total, 333 m. Leased for 101
years from Nov. 1 1895 to Central of Georgia Ry; rental 5% on stockA»
RY—See
J
J P Morgan A Oo, N Y
do
do
Mch 1 '20
A
$4,176,200 owned by the Southern Ry.* V. 75.*p. 136.
Holders of
$5,250,000 So. Caro. & Ga. 1st M. 5s, due May 1 1919, have the privilege
of extending their bonds for ten years at 5 # %, at the same time receiving
a cash bonus of 2 H %.
The extended bonds are guaranteed (endorsed) as
to principal and interest by the Southern Ry. Co., and are subject to call at
107H and int.
V. 108, p. 1166, 1512,2023.
SOUTHWESTERN
1 1949
Nov 1 1948
A
A
Hardeeville, 129 miles; Charleston, S. G„ to Augusta, Ga„ 137 m.; Kingvllle, S. C„ to Marion, N. C., 208 m.; branches, Ao„ 381 m.; total, 755 m.
Stock authorized, $7,798,700, of which
Leased to the Southern Ry.
suit, see V. 71, p. 809; V. 73, p. 1062.
872.)
-
Apr
A
M
J
Directors.—Fairfax Harrison, Belvoir, Va.; Henry W. Miller, Atlanta,
Ga.; Edwin A. Alderman, Charlottesville, Va.; John Kerr Branch. Rich¬
mond, Va.; John C. Kilgo,Charlotte,N. C.; Robert Jeraison Sr.. Birming¬
ham, Ala.; H. B. Spencer, Richmond, Va.; Adrian Iselin, Charles Steele,
Charles Lanier, Jackson E. Reynolds, Guy Cary, Walter Kerr, N. Y.—
(V. 110, p. 971.)
to
A
M
9
J
31 1918, in V. 109, p. 1360.
Dec. 31 '17. Dec. 31 '16. June 30 '16.
CAROLINA
A
if
1907
1,000
Div lilon
42
$2,650,186 $12,417,206 $11,324,665
RAILWAY
do
g
OFFICERS.—Pres., Fairfax Harrison, Richmond, Va.; V.-Pres., E. H.
Coapman, Washington; R. B. Pegram, Atlanta; Sec. & Treas., F. S. Wynn,
120 Broadway, New York.
★ SOUTHERN
do
5H g M
Total gross
Balance, surplus.—
do
11951
2g
4
1919.
3,380,200
do
do
Jan
1,000,000
5,000.000
434,000
1895
1902
income...$20,832,627 $29,810,162 $26,749,851 $24,426,031
Deduct—Rents, &c
$2,507,045
$4,180,025
$3,956,902
$3,885,904
Interest on debt
11,855,142
11,592,721
11,268,753
11,206,229
Pref. divs.
(5%)3,000,000 (2^)1,500,000
Add'ns & betterments—
58,728
120,210
199,531
88,195
Corp. exp. & war tax
761,526
—
•
do
July 1 1998
A
5,250,000
1894
240
revenues__$126,574,297 $90,716,569 $75,554,652 $69,997,675
$26,429,962 $23,399,393 $21,004,005
Net, after taxes....—$30,976,625
Cert if. standard return. $18,653,893
Other income
2,178,734
July 11996
A
Sept'20-Mar '24 Guaranty Trust Oo, N Y
the Federal contract
railway operating income for the three
2,457,202
A
J
J
A
.$37,404,560 $29,103,893$129,787,811$126,574,296
—
J
4 g
M
ended June 30 1917 has been certified by the I.-S. C. 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.
In Feb. 1919 the War Finance Corp. granted advances of $6,562,000,
subject to the approval of the Director-General of Railroads.
V. 107, p.
2377; V. 108, p. 116. 270, 973.
REPORT.—For year ended Dec.
Years ending—
Dec. 31 '18.
do
5
1914
EXPECTED COMPENSATION.—In Apr. 1920
Net
do
Nov '20-Nov *21 Bankers
years
1919.
Sept 11938
June'20-June'23
5s were issued 1 n 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
-Charl. secures $2,500,000 of 5s, of which $1,500,000 owned by Southern
Ry. Jan. 1 1919 and $1,000,000 reserved for improvements.
St. Louis
Division mtge., V. 72, p. 138; V. 84, p. 392.
The collateral trust 4s of 1901 have been issued, $ for $, in exohange for the
Mobile A Ohio gen. 4s as acquired, by a pledge of whloh they are secured.
Stock trust certificates for 11, 4 0. stock are now entitled to dividends at
rate of 4% per an. in perpetuity. (V. 72, p. 242, 822); $8,346,000 of the
$9,472,000 bonds and $5,670,200 of the $6,017,000 stock have been de¬
posited.
V. 72, p. 439: V. 73, p. 664.
See M. A O. statement.
Jointly with St. Louis A San Francisco RR. guaranteed bonds of New
Orleans Terminal Co., and subsequently acquired entire control of property
<seeSt. 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; V. 102, p. 1897; V. 103, p. 1889,1981.
Atlanta A Charl. Air Line Ry. (leased line) bonds. V. 102. p. 1058,1162.
As to extension and guaranty of South Carolina 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 allocated
to this company.
See article on page 3.
-Jan. 1 -Mar. 31-
A
A
Divisional first mtge.
1920.
do
M
do
A
Mem. & Charl. Ry.
,
do
M
p.
EARNINGS.—
do
July 11925
July 11930
J
1913
jecfc to underlying liens, are now said to be a direct mortgage on some 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 allied company bonds,
$13,262,900 allied company and Terminal co. stocks. Ac.
V. 82, p. 397;
V. 86. p. 1468; V. 88, p. 565, 626, 1622; V. 105, p. 1530.
LATEST
Nov 1 1956
A
iH
1911
-
Gross
A
J
4g
2,000,000
5.000,000
75.000
147,000
185,000
Transylvania 1st M gold $500.000
G,xo*Ar
Southwest Pena RR—See Pennsylvania RR
333
Southwestern (Georgia)—Stock (see text)
—
29
Southwestern Rv (Texas)—1st M gold—
—x
Spartanburg Union & Columbus—-See Southern Ry, Carol!
143
Spokane International—First M $4,200,000 g Col.vo*
22
Ooeur d'A & Pend d'O 1st M $544,000 s gu.Us.TC*
Spok P & S—1st M $125.000.000 g red text—Ce.oAr
had not been signed but the average
A
M
1.525.000
136
N
$18,000,000 gold
J
3,925,000
1900
278
Virginia & Southw—1st M g gu by Va I O & C__Gx
First Oonsol Mtge $7,000,000 gold—G.xc*&r*
Equip trserE due$25,000 s-a(V 93, p 1106)-Ba.x
do
do
ser F
due $21,000 s-a
Ba.x
do
do
ser G due 24 M and 23 S s-a—G.y
Southern Railway, Carolina Division—aSo Car & Ga 1st M g ext gu call 107# % Ce.xxxc*
•Spar Union A Col $1,000,000 guar Ash A Sp g_ Cxc*
Payable
Sg
1,650,000
4,000,000
600,000
1,200,000
900.000
278
Ba
—F.q
-
mortgage gold
Where Interest and
Dividends are
to
——
oAtlantic & Danville first mortgage
Places
Maturity
?g
166
31
Ry—See that company
and
6 g
4,500,000
6.883.000
150,000
12,500.000
1.000
Last Dividend
?g
5 g
$3,106,000
12,770,000
2,000,000
1st M $20,000,000 ($14,600,000 Ser B 5a)Ceyc*Ar
ed to
(a)
So uthern Ry
C—-On Properties Practically Owned by (*) or Leas
98 1896
1.000
aGeorgia Midland first mortgage interest guar.-Cex
100
oNorth Carolina stock 7% guaranteed
149 l"895
2001.000
oMoblle & Birmingham RR prior lien gold—Ce.xc
200 1,000
149 1895
First
mortgage
$1,200,000
-Ba.xc
Northern Alabama
125
RAILWAY STOCKS AND BONDS
May, 1920.]
★Government
126
Date
Par
Amount
Rate
When
Last Dividend
Road
[for abbreviations, <fcc„ see notes on first page.)
Bonds
Value
Outstanding
%
Payable
and Maturity
Spuyten Duyvll & Pt Morris—See New York Centr al RR
24
1898
State Line & Sullivan—First M $300,000 eold.Un.xc*
Staten Island Ry and Staten Island Rapid Transit— See B altlmo
105
4t
Ohl
m
2,607.000
_
m
1915
1917
——. —
.
$20,000,000 gold (see text) ..so*
Tennessee & North Carolina—1st M $750.000
Q.xc
Tennessee Ry—First mtge $4,500,000 gold—Gxc*&r
Tormina! Railroad Association—First mtge goid.Q.vo*
325
41
56
1904
1903
1907
1889
gold...(lie*
1894
(text)..Ce.xo* Ar*
guaranteed
Second preferred stock guaranteed (endorsed)..
First mortgage gold........—
xc*
Tunnel RR of St Louis stock guaranteed (endorsed)
1903
First
Consolidated mtge $12,000,000
Gen M Ret $50,000,000 g s f call
St Louis Bridge Co 1st pref stock
*■
mm
mm
mm
100
m m
DIVS.
1
500
91.—1892 to 1909— '10 to 12
Since to 1919
8
8
13 8 y'ly (2% quar.)
lOyrly
12 yearly,
V. 95, p. 481; V. 103. p. 1982; V. 106, p. 601.)
'88. '89. '90.
.
A
350.000
4
A
4
A
341,700
3
J
2,500,000
1,519,000
750.000
480,000
1,258.000
a
12
x
Places Where Interest and
Dividends
are
Payable
Union Trust Co, N Y
.1 1929
NY and
A
J Juiy 1 1940
1 1957
O Oct
A
O Apr
Safe Dep & Trust Co, Bos
■
ic
J
0—F
5 'v.
5 g
5
M
A
t
A
&
O
A
&
O
5 g
5
•J
A
J
M
&
N
299,000
5 g
J
&
text F
See text See
4 g
6
4.014,000
330,000
15.899
18,655
8,353,900
300,000
1.130,000
7,000,000
5.000,000
21.700,000
2.490,000
J
J
July 1 11-20 1H Manchester, N H, Nat Bk
May 1 1920 3% D L & W RR Co, N Y
Mcb 1 1959
Guaranty Trust Co. N T
New York & Baltimore
Apr 1 1953
Oct 1914 lnt not paid
Apr 1 1949
Old Colony Tr Go. Boston
July 1 1936
Safe Dep & Tr Co, Bait
Nov 1 1940
July 1 1921
A
A Feb
1 1961
I nterest'riot "paid"
&
J Jan
11934
Jan *16 coup pd
July *16
Apr 1 1916
Aug 20 1916
6
Nov 1 1918
6
5 g
A
J Jan
6
A
In default since July 1908
J 1933
5 g
4H g
5 g
4 g
MAS Mch
A
do
O Oct
do
A
11954
11937
In "default
1 1939
J P Morgan
do
Aug 1 1944
A Co, N
V
do
do
do
Jan
do
do
July 1 1920 3%
do
do
July 1 '201H %
New York and London
Apr 1 1929
Julv 11920 3% J P Morgan A Ce. N Y
6-
A
3
do
7 g
6
3,000,000
5,000,000
1,250,000
Ac
ComTrCo. St L
Reading Terminal, Phila
1 1924
RR
225.000
100
1879
V. 103, p. 1982; V. 95. p. 481.
Percent.-/ 12
—( V
94, p. 828;
-
1,000
1,000
1,000
1,000
1,000
1.000 Ac
mm
m
-
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.
J
~
.
General mortgage
5 g
357,000
*
mmm
...
4H
[Vol. 110
0
1910
mm
m
J Jan
*
$272,000
$1,000
re
1,000
Stephen North « So Texas RR—1st M g gu red 105c*
10
1872
1,000
Stony Crk—lstM$350.000ext W gu (V S5,p532)JFPx
1894
1,000
Sullivan County RR—First mortgage $400,000 — —xc
Sunbury Hazleton & WUkes-Barre—SunburyjSt Lewis town- See Pe nnsylvanl
100
SuncooK Valley—Stock (3% rental Bos. & Maine) _
Susquehanna Bloomsburg & Berwick—See Penn sylvan ia
ioo
81
Syracuse Binghamton & N V—Stock 12% rental..-.
58
1909
Taliulah Falls—First mortgage
—0
1913
77
Tampa & Qulf Coast—1st Mggu red 105.CoBa
1909
1,000
Tampa & Jacksonville—First mtge (see text)
-Ox
1906
1,000
Tampa Northern—First M $5,000,000g red 106_„OBx
1910
1,000
Tampa Union Station Co—First mortgage
1890
32
1,000
Tavares & Qulf RR—1st M gold...... — .-..-..Bax
1911
1,000
Tenn Ala & Ga—1st M $5,000,000 g red 110.-Em.xc*
l! 1,000
320
1904
Tenn Cent—Prior lienM $4,200,000g red 110.MSt.xc*
1915
Receiver's certificates (V. 104, p. 1900)--..
Receiver's certificates...
Receiver's certificates.
.—...
Control.
Miles
COMPANIES
RAILROAD
A Private
BONDS
RAILWAY STOCKS AND
Contract.
do
&
1 1953
do
SECURITIES.—Stock outstanding. $8,000,000. ail common (par $100.)
The prior lien 4s of 1904 (originally 5s, stamped 4%) are subject to call at
110.
IB. Central RR. and Southern Ry. own most of the 4s.
V. 80, p.1059
Protective Committee for Qen. 5s.—Alexander J. Hemphill (Chairman)
Lewis B. Franklin, 28 Nassau St., Secretary; Guaranty Trust Co., N. Y..
depositary.
V. 96, p. 204. 488.
V. 103, P. 1119.
In 1916 had plan under advisement.
V. 102. p. 1810;
★ TALLULAH FALLS RY.—Owns Cornelia, Ga., to Franklin, N. O. 58
miles.
Southern Ry. owns $200,000 common stock, of which $199,500
and $123,400 pref. stock and $1,519,000 bonds are deposited under Its
Development and General mortgage. V. 88, p.087, 750,884. Year ending
Dec. 31 1917, gross, $128,030; oper. def., $2,666; other income, $463;
charges, $77,863; bal., def., $80,067.—(V. 88, p. 750, 884.)
QULF COAST RR.—Operates from St. Petersburg to
Tampa, Fla., 65.02 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.
A TAMPA
&
Of the 1st 5s
for extensions
or
($5,000,000 authorized issue)
V. 78. p.
that
see
$5,553,450*
Jan. 1 -Mar. 31
EARNINGS—
Gross
Net..
_.
1920.
$714,418
42,085
1919.
$645,480
def.129,208
Jan. 1-Dec. 31
1919.
1918.
$2,489,537
def.336,928
$3,011,822
299,285
Corporate income account year ended Dec. 31 1919: Federal compensa"
tion, $162,808; other income, $4,099; deductions, $694,564; def., $52 / ,657•
,
Chairman of Board, Eben Richards, N. Y.; Sec., D. R. Carpenter. Nash¬
ville; Treas., H. L. Williamson.—(V. 107,
p.
182, 1748; V. 110,
1291.)
p.
the remainder is Issuable
branches at $12,000 per mile, or, in case net earnings for
preceding vear shall have been 1H
a
auth., Merc. Tr; Co. of St. Louis, trustee).
1783; V. 79. p. 213.
The Nashville Term. mtge. Is for $1,000.000;
company and V. 104. p. 257.
Current liabilities Dec. 31 1919,
Gen. mtge. 5s ($20,000,000
times the interest
on
outstanding
bonds, additional bonds may be issued to such an amount that the total
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.)
ATENNESSEE KENTUCKY
&
NORTHERN RR.—Leases for long
term
yincinnati Nashville & Southern Ry.. which extends from Algood. Tenn,
on
Tennessee Central RR.. to Livlugston. 17 inilee.
Y„<98,p.238.
TheCincinnati-N ash ville Southern Ry. is successor to Overton "Coun ty RR., foreclosed
Aug. 13 1912; V. 95. p. 481. TheCin.-Nashv. Son. By. bas Issued $25,000
A TAMPA & JACKSONVILLE RY.r-Sampson City to Emathia, Fla,. 56
stock & $160,000 1st M. tax-exempt 25-yr. gold &». due Oct. 15 1937. int.
A. & O. at Colonial Trust & Savings Bk.. Chicago. HI., truwtee; denon ina-
Stock auth,, $1,000,000;
par, $100;
issued, $604,900.
The first
arc limited to $10,000 per mile.
V. 89, p. 1543.
Coupons due Oct. 1
1914 in default.
Bondholders' committee: Henry L. Cohen, 61 Bway.,
Chairman, H. A; Smith, Hartford, and Wm. Shillaber Jr., New York, with
Graham Adams, 61 Broadway. Sec.
fcion $] .000 each. The Tenn. Kentucky & Northern has issued $10.000 stock
and no bonds.
Year ending Dec. 31 1919, gross, $61,409; net, $15,920;
deductions, $11,362; bal., sur., $4,558.
Pres., Mrs. P. E. Clark; V.-P. &
Gen. Mgr., Sec. & Treas., T. C. MoCampball, Nashville, Tenn.—(V. 95,
p. 1123; V. 98. p. 238; V. 99, p. 1367.)
Year ending Dec. 31 1918, gross, $88,332; net, $17,181; interest on bonds,
$26,000; other charges, $19,856; bal., def., $28,675.
In 1917, gross, $74,797; bal., def., $20,037.
Pres., F. J. Lisman, N. Y.; Y.-P. & Gen. Mgr.,
A. de Sola Mendes, Gainesville, Fla.; Sec., W. G. Edinburg, New York.—
—(V. 89, p. 1543; V. 103, p. 1302.)
to Crestmont, N. O., 1914 miles (3 miles over leased track).
River Ry., West Canton to Spruce, 17 miles; total operated,
m.
5s
★ TAMPA NORTHERN RR.—Owns Tampa, Fla., to Brooksville, 50 milesacquired entire stock. V. 95, p. 49,
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 deposits as se¬
curity therefor $260,000 of 1st & consol. M. bonds. V. 95, p. 892. For year
ending Dec. 31 1917, gross, $114,572; net, sur., $4,723: int., &c., $75,628;
bal., def., $70,905.
Pres., S. Davies Warfield, Baltimore; Sec. & Treas.,
R. L. Nutt, 24 Broad St., N. Y.—(V. 95. p. 892, 1090.)
In July 1912 the Seaboard Air Line Ry.
TAMPA
Leases Pigeon
41.48 miles. In
Sept. 1916 V.-Pres. Jas. G. Campbell was appointee!receiver. V.103,p.l793.
Reported in March 1920 that foreclosure proceedings had been instituted.
V. 110, p. 1189.
Capital stock auth., $625,000; outstanding, $306,000; par $100. Bonded
debt, $300,000 (see table).
Earnings for year ended June 30 1915-16, I
gross, $150,711; net. $63,974; 1914-15, gross, $114,446: net, $51,775; int.,
taxes, &c., $42,939; bal., def., $4,663.
For cal. year 1917,'gross, $110,819;
net, after taxes, $40,037.
Pres.. Jas. G. Campbell, N. Y.; Sec.. Fred H. Ely, Phila,, Pa.; Treas.,
D. G,Wilson, Phila.
Office, Newport. Tenn.—(V. 100. p. 1511.)
RV -Own#
Oneida, Tenn.. to
Rosedaie. 60
miles
Robinson was appointed receiver and in March 1918
purchased at foreclosure sale by J. N. Baker, trustee. V. 100, p. 1462.
V. 97, p. 177.
Reorganization committee: Alexander J. Hemphill, Chair¬
man; Leroy W. Baldwin, Albert H. Wiggin, Vivian Spencer and Erskine
Hewitt.
Depositary, Guaranty Trust Co., N. Y.
Plan of Feb. 1 1918
was in V. 107, p. 502.
Pres., Bird M. Robinson; Sec., M. T. De Vault,
Office, 18 B'way, N. Y.—(V. 110, p. 563, 1189.)
ATENNESSEE
On July 1 1913 Bird M.
was
SOUTHERN RAILROAD— (V. 110, p. 872.)
★ TAMPA UNION STATION CO.—Property used Jointly by Atlantic
Coast Line RR., Seaboard Air Line, Tampa Northern and Tampa &
Gulf Coast RR.
ATAVAR.ES & QULF RR.—Owns Ellsworth Jet. to Ocoee. Fla., 28.02
miles; Wait's Jet,, to Clermont. Fla,, 5.93 m.; trackage. Tavares to Ells¬
worth Jet., 3.39 m.; total. 37.34 miles,
lucorp Mar. 27 1890.
Stock.
$250,000; par, $100.
Bonds. $299,000 1st 5s (auth. $9,000 per mile):
see table.
For year 1919, gross, $30,136,;net, after taxes, def., $34,336;
interest, &c., $34,534; bal., def., $68,871.
For year 1918, gross, $30,760;
oper. exp., taxes, &c., $46,923; bal., def., $19,163.
Pres., Henry H.
Jackson; Sec., 8. H. Jackson, New York.
Office, Tavares, Fla.
TEM1SCOUATA RY.—(See Y.107,
p.
1838.)
ATENNESSEE ALABAMA & GEORGIA RR.—Owns road trom Tennessee
State line to Gadsden, Ala., 86.74 m.; branch, 1.38 m. trackage to Chatta¬
nooga,
A TENNESSEE & NORTH CAROLINA RR.—Operates Newport, Tenn.,
7.85
m.
V. 91,
p.
1628, 336;
V.
92. p. 323.
STOCK.—Authorized, common, $2,350,000; preferred, $750,000.
BONDS.—Bonds ($5,000,000 auth. issue), in June 1918$1,500,000 nomi¬
nally 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 inter*,
est 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 June 1918 no Interest had
been paid on the bonds and none had been written up.
There were then'
outstanding car trusts, $57,516, and loans and bills payable, $147,424.
For 1919, gross, $148,309; net, def.,
$87,498; deficit after charges, $112.
664.
Pres., J. J. Slocum; V.-P., Henry W. de Forest; Sec., H. B. Blanchard;
Treas., E. O. Osborn.
Exec, office, 111 B'way, N. Y.—(V. 100, p. 557.)
★ TENNESSEE CENTRAL RR.—Harriman, Tenn., westerly to Hopkins
ville, 253.24 miles.
Branches, 40.44 miles; sidings and spur tracks, 76.91
miles; lines at Nashville terminals, 20.17 miles; total. 370.59 miles.
Leases
till 2001 Nashville Terminal Co. (terminals, bridge and 17.95 miles ot 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. t'o $4,014,000 undisturbed Prior Lien
Mtge. bonds of 1904. See status Feb. 1918. V. 105, p. 1899,1709; V. 104,
P» 766, 1389, 1900.
In May 1920 Nashville Terminal Go. rent had been
paid in full to Jan. 1 1920.
The Illinois Central which on Dec. 311917 owned
$1,338,000 Prior Lien
bonds will, it Is believed, eventually buy in the property.
★ TERMINAL RR, ASSOCIATION OF ST.LOUIS.—PROPERTY .—Owns
*ud operates extensive terminals at St. Louis, with belt lines and bridged,
owns and operates East St. Louis 6c
and a tunnel 4.800 feet in length;
Carondelet Ry7.78m., since 1903.
V.74. p. 479; V.83, p. 1168.
Touch¬
ing the Missouri A Illinois Bridge A Belt RR., see thatoo's statement.
ORGANIZATION.—Organized In 1889.
The following oompanies are
sole owners: Cleveland
Cinolnnati 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
l8i. A Pacifto, St. Louis A San Fran., Chlo. A Alton. Chlo. Burl. A Qulncy,
til. Cent., Southern Ry.. Mo. Kan. A Tex. and St. Louis Southwestern,
V. 75, p. 1355; V. 76, p. 103.
These oompanies agreed under contract 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 ot
one-fifteenth to make up any deficiency from unforeseen circumstances.
See V. 79, p. 499.
Seel also St. Louis Merchants' Bridge Terminal RR.
Government suit, 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; VT98, p. 764, 1394, 1994; V. 100, p. 1734.
Federal Compensation.—$2,574,510 yearly during Federal control.!
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, $50,000,000: outstanding Dec 31 *17, $3,087,800.
BONDS, &o.—Of the Gen. M. Ref. 4% s. f. gold bds. of 1953($50,000,000
$17,500,000 are reserved to retire existing bonds and $4,037,000
over $1,000,000 yearly for Improvements and acquisitions.
A sink. fd. commenced Juiy 1 1906 retires $100,000 of these bonds yearly
by lot at 110 and int. If not purchasable for less; $1,400,000 bonds have been
canceled by sinking fund.
The entire issue is subject to call at 110 and int.
since Jan. 11910. See V. 76. p. 267. 383, 481, 807; V. 79. p. 499; V. 83. p.
1168; V. 85. p. 1647; V. 99, p. 50; V. 100, p. 1079; V. 104, p. 2642.
In June 1919 was authorized to issue $1,000,000 4s. V. 108. p. 2529,2630.
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 6tock allocated
to this company.
See article on page 3.
auth.),
for Issue at not
Jan. 1 'Feb. 29
EARNINGS—
Gross
"STANDARD RETURN," &c.—See page 5.
Net..
1920.
$743,288
99,668
1919.
$584,582
def.40,163
Jan.
31
1918.
1 -Dec.
1919.
$4,002,716
507,481
$3,882,409
689,297
May, 1920 ]
^Government
B HLBOAD COMPANIES
{/For a,t<&r&ru* f<ms, Ac.,
Terre Haiue
Terre Mau.
see notes on first
Miles
Date
Par
Amount
Rate
Bonds
Value
Outstanding
%
Payable
.138
Preferred stock non-cumulative $1,325,000 auth..
Flrat M $2,000,000 gold red 110 ($150.000r4s) _F.xc*
i
Texas Midland RR—First Refunding mtge $2,000,000
111
Texas & N O of 1874—Maine line first mortgage
Consolidated mortgage for $4.195,000
G.*o*Ar
Dallas Dlv 1st M gold $20,000 per m (text)-Un.ac*
Texas Transportation first mortgage (not assumed)
Burrs Ferry Browndell & Chester first mortgage—
Texas ct Pacific—First consol (now 1st) M g-- FP.xc*
Second Cons Inc M ($25,000,000) g (see rem) _Ba.xc*
Louisiana Dlv Br lines 1st M gold $12,500 p m.Bax
^ Equip bonds, series BB, due $30,000 seml-an
x
$1,000
1892
309
1893
1908
1,000
1,000
1875
208
1893
*»«.
1900
m
1,000
1,000
— —
1907
1,387
1.387
1901
1912
do
do
1915
do
do
1916
gold Series CO due $22,000 s-a —Eq.c*
do Series DD due $25,000 »-a
do
do Series EE due $60,000 s-a
Tioga RR—First M extended in 1882 A 1915 gold__z
46
Toledo Col & Ohio Riv—Cleve So Mar IstM g gu F-xo*
103
Tol W V & O 1st MV'A" guar p A I (end)_._F.xo»
\
J
($15,700 per m)f"B"
do
do
xo* I 241\
$4,000 000 gold J"0"
do
do
sk.fd.xo
Tol & Ohio Central—Com stock ($6,500,000 auth).
Preferred stock ($3,708,000 auth)
First Mortgage gold (V 53, p 436)
19?
Ce.x
Western Division first mortgage gold
N.xo* Text
General mtge (V 62, p 594) ($2,000,000) g __Ce.xc
395
St Mary's Division first mtge gold $500,000-_G.xo
60
do
first pref lno $500,000 non-cum 4%,G.
60
Equipment trust certificates
do
dd
due $120,000 annually
Guaranteed Bonds—Kan & Mich Ry—See that oo
To! A Ohio Cent Ext 1st M iforeolosed) lnt only guar
a, b, c, Additional amounts held In treasury and by
truste
1917
1852
1895
1891
1893
1902
100
1885
ANNUAL
RE PORT,-
■Year
Gross.
ends
Dec.
Net.-
1,000
1,000
1892
1894
1,000
1,000
1,000
1901
1901
1913
1917
—
1888
Dec
es
1.000
.
Charges.
Bal.. Surv
(x)$2,813,912
$2,805,684
$8,228
(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 $2,547,511 compensation due from U. S. Govt, (subject to
-
amendment.
trackage over other roads.
From Oct. 1 1892
leased for 99 years to the
Terre Haute & 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. Cln. Ch. & 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 $1,570,000 of the
$1,920,and Pennsylvania Co. July 31 1919 owned $1,168,700 pref.
800 common,
and $269,300 common.
BONDS.—The
consols
(Union
Trust
guaranty of the T. H. & Indianapolis.
V. 81, p. 156, 212; V. 72. p. 481, 873.
Co., N.' Y., trustee)-, carry the
In 1905 all baok coupons were paid.
See guaranty, V. 81, p. 212.
EARNINGS.—For year 1918, income from rentals,
Ac.,
$285,525;
Interest, rentals, &c., $211,374; war taxes,
$15,013;
preferred divs.,
(4%), $73,496, paid out of surplus; bal., sur., $59,138.
★ TEXAS CENTRAL RR.—{SecMap Mo. Kan. & Tex.)—Waco to
Rotan,
Tex., 268 m.; branch to Cross Plains, 41 m.
First 5s, V. 93, p. 1325; V. 92,
p. 1437; V. 91. p. 95, 1631; V. 90. p. 1556.
Mo. Kan. & Tex. Ry. ol
Texas leases the road for 99 years from May 1
1914, with authority to
purchase the same, &c.
Of the stock $1,310,000 pref. and $2,672,300 common is
pledged as part
security for M. K. & T. Ry. Consols of 1910.
DIVS.—%—'01/02 to '04. '05 to'07. '08to'11. *12/13. 1914
19LV18.
2H 2H y'ly.
5 yearly.
0
5
5
5 5-6 Below
7M 5 yearly
5 yrly.
5 yrly.
5
5
8 1-3
Below
OommoD.Pref.-%
Dividends paid under lease, 5% on both classes,
July 1914 to July 1919Earnings for year 1918: Total available income, $299,473: int. on bonds,
$98,500; pref. divs. (5%), $66,250; com. divs. (5%), $133,750; miscellane¬
ous charges, $973; bal., income, none.
Pres., O. E. Schaff; Sec. A Treas., A. T. Clifton.—(V. 104, p. 766, 2012.)
★ TEXAS MIDLAND RR.—Road from Ennis on Houston A Texas Central
Paris, Tex., 125 miles, of which 14 trackage over St. Louis South¬
Valuation 1917, see V. 105, p. 1803; V. 104,
p. 164; V. 107, p. 907,
Stock, $112,000; par, $100.
v
Year end. Dec. 31 1917, gross, $718,994; net, $177,553; Int..
taxes, Ac..
$180,401; def., $2,848.
Pres., E. H. R. Green; Treas.* W. P. Allen,
Terrell, Tex.—(V. 105, p. 1803; V. 107, p. 181, 907.)
Hy. to
west.
★ TEXAS &
NEW ORLEANS RR.— (See Map So. Pac.)—Houston, Tex ,
aDd Sabine Pass to Dallas, 314 miler,
sundry branches, 45 miles; total Dec. 31 1918, 470 miles.
Annual compensation under F'ederal contract,
$715,136.
SECURITIES, AC.—The stock is $5,000,000, all but 5900 owned by tht
Orange (Sabine River), ill miles;
Southern Pacific.
Dividend of 20% paid in 1909-10 from accumulated
sur¬
plus.
There were, Dec. 31 1918, $245,630 Texas School Fund 6s, principal
payable 2% per annum.
V. 80, p. 1425.
Of the $3,997,000 Dallas Div. 1st 4s, $573,000 are owned
by the Sou.
Pac. Go. and $3,235,000 are owned by the proprietary
companies or are
held in their sinking funds.
Of the $862,000 main line first 30-year 6s,
$533,000 were on Dec. 31 1918 held in the Sou. Pac. treasury and the re¬
mainder in the sinking funds of proprietary cos.
There were also $2,575,000
Sabine Division bonds, all held by Sou. Pac. Co., Dec. 31 1918.
Equip¬
ment 6s, $204,000, all owned by Sou. Pac.
Jan. 1 -Feb. 29
EARNINGS.—
Gross
1920.
1919.
-Jan.
1919.
1 -Dec.
31
1918.
$1,566,891
$1,110,674
140,177
$7,445,599
Net-.
175.533
def.56,510
871t820
1,292,096
In" 1918"^standard"return," $715,136; other income, 456,981; interest
charges, Ac., $706,453; expenses prior to 1918 (net), $42,827; bal., sur.,
$22 835*
In the year ending Dec. 31 1917, 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.—(See Map Mo. Pac.)—New Orleans, La., west
El Paso, Tex., 1,150 miles; Marshall via Texarkana Jet. and
Whltesboro
to Fort Worth, 335 m.: Opelousaa branch, Melville to
Crowley, La., 57 m.;
branches, 402 m.; total, 1,947 m., deduct 90 m., Sierra Blanco to El Paso,
trackage; 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. & So. Ry.. $410,040 of the judgment of $842,000 obtained
by him id
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 1914 filed a mortgage to
secure.'S7,500,000 bonds.
The
to
Texas & 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 $4,125,000 were
outstanding on Jan. 31 1919.
V. 102, p. 68; V. 104,
2005; V. 105.
p.
Where Interest and
Dividends
are
Payable.
M
A
5
J
A
S Sept 1 1942
J See text
5
J
A
J See text
4 A 5 g
A
A
4
A
J
F
So
5
A
A
6
A
A
5 g
J
5 g
5 g
5
6 g
5 g
5 g
5 g
a
None
A Aug 1 1935
J July 1 1943
A Aug 1 1930
&
O Aug
O Apr
A
F
A
J July '20-Jan
A Aug '20-Feb
Co,
N
do
paid
ever
Bankers Trust Co, N Y
3H% paid Moh 1 1908
Bankers Trust Co, N Y
Blair & Oo, New York
Equitable Tr Co, N Y
'26 Blair & Co, New York
'27 Equitable Tr Co. N Y
ErieRR ,50Ch'chSt ,N, Y
Penn RR Oo. N Y
M
So
&
4 >4 g J
4 g
M
&
J July 1 1933
do
So
S Sept 1 1942
do
N Nov 1 1935
N May 1 1935
J July 1 1931
J
J July 1
A
do
A
0 Oct
&
F
So
D June 11935
A Feb 1 1951
earned
1 1935
Feb
J
A
J Jan
do
J Jan
do
do
1 1928
A
do
do
Guaranty Trust Co, N Y
Second Nat Bank, Toledo
Guaranty Trust Co, N Y
1 1951
J
do
do
•
All owned by N Y C RR
All owned by N Y C RR
Central Union Tr. N Y
1935
A
J
Y
Commonw'th Tr Co, StL
4)4 g M
4)4 g J
So
Y
Y
do
So Pao, 165 B'way, N
do
do
do
do
11923
1 1937
So
D June 1 2000
March 1 Deo 12000
J
J Jan 1 1931
A
J
to
D June'20-Dec'22
M A
N May 1920
J
RR
Broadway, N
do
do
0 Apr 1 1923
A Aug 11938
A
F
5 g
4 g
'
F
6
Penn
61
1921-27
3 S
M
A
$11,00 0; b $338 ,000;
N Nov 1
1938
$ 713,000.
c
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 ills roads.
On Jan. 4
1910 the Gould estate secured an attachment in N. Y. State for $1,741,000
notes made to the Iron Mtn. on March 1 1914 and
assigned to the
estate in Aug. 1915.
V. 102, d. 154. 2167; V. 103,
on
Pres., Henry Miller; V.-P. & Gen. Counsel, T. M. Pierce; Sec., O. A.
Vinnedge; Treas., G. H. Steinberg—(Y. 110, p 872, 971, 1416.)
★ TERRE HAUTE & PEORIA RR.— (.See Maps of Pennsylvania RR.)—
Road operated from Terrre Haute, Ind., via Decatur, to
Peoria, 111., 174 m.,
of which 138 in. are owned and half interest owned in 8
m., and 28 m. is by
to
Places
Maturity
■
300.000
31 1918 of;
31:
Other Inc.
and
5 g
5,846.300
3,701,400
5 g
3,000.000
5 g
2,500,000
5 g
2.000,000
4 g
272,000
500,000 Oct 1 If
2,133,230
4)4
840,000
4)4
100
—
Year—
1919
1918
J—-
-
$2,230,000
2,675,000
1,325,000
2.000,000
2,000.000
862,000
1.620,000
3.997.000
350,000
165,000
a24,989.000
-
1,000
1,000 b24.662.000
1,000 c4,970,000
1,000
150.000
1.000
44,000
1,000
300,000
1.000
810.000
$500 Ac
239,500
1,000
1,191,000
1,000
1,494,000
1,000
969,000
1,000
1.178.000
1888
do
—
--------
1888
456
Last Dividend
lla RR
Peoria—
1
First mtg;i ? 3,500,000 gold guar p A I (end)-Uo.to*
Texas Central -Common stock $2,675,000 authorized
127
Control.
When
Road
page.)
Lt&Ltna polls; Terre Haute & Loganspor t—See Vanda
ft.
APrivate
RAILWAY STOCKS AND BONDS
Contract.
p.
Suits.—On Dec
1523, 1709.
27 1915 the Bankers Trust Oo., as trustee under the 2d
M.
(Income) bonds, filed suit for a receivership on request of receiver Bush
of the St. Louis Iron Mt. & £o. Ry. (nowMo. Pac.
RR), owner of $23,703,-
1505, 2239.
p.
STOCK.—Authorized, 550.000,000:
issued
538,703.810;
oar,
$100.
Missouri Pacific RR. Dec. 31 1910 owned
$6,555,000 stock and $23,703,000
2d M. bonds and in May 1919 was reported
its investment in
the property.
V.
108,
(unconfirmed) to have increased
1938.
p.
Stockholders' Protective Committee.—Alvin W. Krech, Pres. of
Equitable
Trust Co., Chairman.
Depositary, Equitable Trust Co.
V. 102, p. 154.
Samuel
Armstrong, Sec., 37 Wall St.
Protective Committee for Minority Income Bonds.—Mortimer N. Buckner,
Herbert W. Morse, Sec.. 26 Broad St., N. Y.
Depositary.
New York Trust Oo.
V. 102, p. 610; V. 103, p. 1688.
Chairman;
BONDS.—See 1888 mortgage abstraots, V. 47, D. 82:
V. 78, p. 1448.
The Weatberford Mineral Wells A Northwestern ($660,000 5s of 1902) are
guaranteed, principal and Interest, by endorsement.
V. 78, p. 344.
The
$100,000 Denison A Pacific Suburban 5s are also guaranteed.
Trans-Miss.
Terminal notes, see caption of that
company.
Louisiana Branch Lines intg. 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 on
1st mtge.
All except 5960,000 of the 2ds have been exchanged for 65% in
St.Louis Iron Mtn. & S. 4s.
V. 08, p. 525, 619, 725, 774; V. 70, p. 533.
Interest
second
on
Incomes (%)
mtge.\1900.
/ 1)4
1901.
4
1902 to 1907.
1909 to 1918.
0
1903.
5 yearly.
3 H
Equipment trusts of 1917, see V. 104, p. 864.
In Oct. 1919 principal and
interest of all equipment trusts had been paid regularly when due.
Loans and bills payableDec. 31 1918, $1,038,670, including
$1,741,000
notes dated June 1 1914, endorsed
by St. Louis Iron Mtn. & Sou. Ry,, with
interest unpaid.
(See Mo. Pac. plan, V. 101, D. 130. 615.)
Federal Compensation.—$4,107,432 yearly during iFederal control.
Equipment trusts issued
to this company.
to
See article
EARNINGS.—
Gross
Net.
Director-General for
on page
——Jan.
1920.
—Jan.
1919.
$7,692,096
116,178
Dec.
31
1918,
earnings
Net earnings
income
p.
168;
1916.
1917.
.
$5,530,098
Total net income-.-
Deduct—Interest, rentals, Ac
-
Improvements
Equipment
surplus
$4,288,970
4,107,432
442,100
$6,074,888
796,899
003,537
$4,549,538
2,867,907
1,437,285
217,576
$6,871,787
2,635,715
2.222,466
342,945
$6,133,635
2,640,256
918,284
506,999
$26,710
Standard return
Other income
Balance,
31
1918.
$27,294,833 $22,714,007 $20,858,657
5,394,453
7,324,252
6,485,629
1,105,482
1,249 364
955,531
Taxes accrued, &c-
Operating
1-Dcc.
$3,612,437 $27,294,833
6,074,865
5,394,452
V. 109,
1918.
Gross
tolling stock allocated
.
31
1919.
$9,847,624
1,106,350
REPORT.—For year ending
3.
1 -Mar.
$1,670,661
$2,062,096
-
-
DIRECTORS.—N. S. Meldrum, Kingdon Gould, Henry A. Bishop,
Harry Bronner, B. D. Caldwell, George G. Haven, Alexander J. Hemp¬
hill, J. L. Lancaster, A. A. Jackson, Alvin W. Krech, J. H. McCIement,
Dunlevy Milbank, Wm. Church Osborn, Finley J. Shepeard, John I.
Waterbury, Wm. H. Williams.
Receivers, J. L. Lancaster and C. L. Wallace; Treas., A. L. Ewing.
—(V. 110, p. 466, 971, 1416, 1974.)
★ TIDEWATER SOUTHERN RR.—See Western Pacific RR.
TIDEWATER & WESTERN—In 1918 dismantled.—(V. 105,
p.
1310.)
TIOQA RR.—Stock, common, $391,200, and $189,700 pref.; par, $50
101. p. 1465. 1554
—V.
★ fOLEDO COLUMBUS & OHIO RIVER RY.— (See Maps Pennsylvania
dR.)—Owns road Toledo Jet. to Toledo, 0„ 81 miles, and Loudouvllle to
Coshocton. O.. 45 m.; Sandusky to Columbus. 108 m.: Marietta to Canal
Dover, 103
m., branch, 8 m.
Total owned 345 miles; trackage, Cleve. Cin.
A St. L. in Sandusky and Columbus, O., 2 miles; N. Y. O. Linos,
Chic.
B. A O. Jet. to Union Station, Toledo, O., 2 miles;
total, 349 miles.
Pennsylvania Co. owns the entire $12,000,000 capital stock and leases
the 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
6%; 1916, 6%; 1917, Dec., 6%; 1918, Dec., 6%; 1919, Dec., 6%.
1915,
V. 93, p. 1790.
INCOME.—For cal.
come,
divs.
year 1918, standard return, $1,301,433; other in¬
$41,314; war taxes, $113,760; int., $213,080; rental, Ac., $61,732;
(6%), $720,000; bal., sur., $234,175.—(V. 102, p. 155.)
★ TOLEDO & OHIO CENTRAL RY—Operates 436 miles, viz.;
Lines owned—
Whltmore
Bremen
Miles,
j Branches
—
—-
76
Leased lines
5
1481 Trackage (Kan. A: Mich., Ac.)— 36 *
building a 5-mile cut-off
along Leading Creek in Gallia County to reach a number of coal areas.
V. 107. p. 1386.
Toledo
In
to
Oct.
to
171
Thurston
1918 with Kanawha & Mich, started
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. & 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 1918, $11,543,199, all owned by N. Y. Central RR.
RAILWAY STOCKS AND BONDS
*8JST"
128
Miles
[For abbreviations, &e.t see notes on first page
J
Toledo Peoria A Western—1st M (for *5,000,000)jF jo*
Toledo St Louis & West—Com stock $10,000,000
Preferred stock 4% non-cumulative.
——
Prior lien mortgage $10,000,000 gold-——F.xcAr
Receivers' collateral notes $500,000 call at par after
Aug 11917 Series A------———First mtge g $6,500,000 red after July 1925-Ea jco&r
Coll tr bonds secured by C A A stock, Ser A.Cejto*
do
do
do
Ser B
-x
Freight A locomotive equipment notes June 1 1918
Toledo Terminal—First M $6,000,000 g int guar.CoiJt
Date
Par
Amount
Rate
When
Last Dividend
Places Where Interest and
Road
COMPANIES
RAILROAD
Bonds
Value
Outstanding
%
Payable
and Maturity
Dividends are Payable
$1,000
9,995,000
9,952,600
9,575.000
451
1§56
1,000 AO
451
1916
1900
1907
1907
1,000 Ao
1,000
1,000
1907
Ohio
mmm
mm m
31.27
hern
ioo
em mm
mmm
£500,000
1913
"§4
""£i56
175,000
1,000
1,000
1,000
3.280.000
2.000.000
450,000
v.
109,
p.
471.
g MAN Nov 1
Empire Tr Co, New York
Columbia Tr Co, 60 Wall
Aug '14 coupon not paid
do
do
Columbia" "fr " Co." N" Y
1957
7
7
4M
5
4 g
Various Apr 15 '20 7%
Various Apr 15 '20 7%
1960
MAS July 1 I960
J
A
D Junel 1940
A AO 15 July 1
A
A
office, Phlla
do
do
Ind A Gen Inv Tr,London
Glyn.Mills.CurrA Co.Lon
Lincoln Nat Bank, N Y
A Aug 1 I960
A
4M g F
4M g F
Company's
Aug'20-Feb '23 New York
equally secured by the deposited security.
V. 85, p. 1647: V. 86, 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 1918 Ch. R. Id. A Pacific
Ry. Co. owned $400,000 series A and all of the $5,047,000 series B bonds.
To Nov. 15 1919 all interest on bonds and equipment notes was being
paid promptly when due.
Protective Committee for Ser. A and B Collat. Trust Bonds.—Edwin G.
Merrill, Chairman; G. K. B. Wade, Sec.; Union Trust Co., N. Y., deposi¬
York Central RR. acquired bonds of the Continental Coal Co.
EARNINGS.—
1920.
>$2,568,734
—
Jan.
1-Mar. 31
—202,070
1919.
$1,715,406
def.143,678
Net, after taxes,
Compensation accrued.
Interest, rents, &c——
471.
EARNINGS.—
Net
Of the
1915.
$4,722,352
$814,938
$1,086,651
$1,602,324
$1,293,171
$835,641
•
678,501
692,149
916,053
642,243
$1,765,152
1,686,225
$2,294,473
1,379,783
$2,209,234
1,464,933
$1,477,884
1,434,771
$914,690
$744,031
$43,113
★ TOLEDO PEORIA & WESTERN RY.—OSes Maps of Pennsylvania RR.
Eflner, Indiana State line, to Warsaw, 111., 220 miles; La
Harpe to Iowa, 111., 10 miles: jointly with Wabash, 1 mile; trackage at
Peoria and Burlington. Ia., i.7 m.; total, 248 miles.
Stock, $4,500,000
(par $100); outstanding, $4,070,900, of which the Pa. Co. and 0. B. & Q.
each own about $2,011,200.
Mortgage abstract, V. 45, p. 242.
Car trustB outstanding Dec. 31 1917, $198,983; bills payable, $718,000.
—Owns from
In
July 1917 Pres. E. N.1 Armstrong was appointed receiver, 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 1917 Penn. Co. owned $1,248,000 1st 4s.
Bondholders' Committee: Thomas Denny, Adrian Iselin Jr. and Henry
R. McHarg.
Depositary, Farmers* Loan & Trust Co., N. Y. City.
Majority deposited.
V. 104, p. 1046; V. 105, p. 73, 390.
Compensation.—Compensation under Federal control, $159,739
(contract executed).
Jan. 1 -Mar. 31
EARNINGS.—
Gross
-
——
1920.
——
$498,981
61,298
Jan. l-Dec. 31
1919.
1918.
1919.
$385,600
def.14,767
$1,645,768
def.153,639
$1,645,592
def.22,520
EARNS.—For year 1917 (V. 107, p. 286) and 8 mos. ended Aug. 31:
Calendar
Gross
Net
Other
Interest,
Balance.
Years—
Earnings.
Earnings
Income.
Taxes, &c.
Surplus.
1918
.$1,645,593 xdef$4.377
———
1917—
1,289,432
104,657
$218,953
$228,715
$94,895
-
—-—
1919—8 mos— 1,065,778
def70.789
—.
1Q18—8 mos— 1,014,278
3,530
126,150
71,481
58,199
x Federal income account (before bond int., Ac.) shows net def,. $4,377.
-
—(V. 109,p. 1367.)
Gross earnings.
Net earnings (after taxes)
Standard return————
Other income
Total
220,604
TOLEDO SAGINAW & 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.
Jan. l-Dec. 31
1919.
1918.
$8,267,877
1,322,932
preferred and $14,420,000 oommon stock.
See Bonds below.
RECEIVERSHIP.—On Oct. 22 1914 Pres. W. L. Ross was appointed
receiver.
V. 99, p. 1216.
In Jan. 1915 foreclosure suit was brought under
collateral trust mortgage.
V. 100, p. 231.
In 1918 litigation was pending
Involving the validity of the collateral trust bonds.
V. 106, p. 1462.
on
funded debt—
Balancex Incl. int.
$8,306,127
1,881,989
June 30 Yr.
1917.
19116.
$7,041,663
$1,697,658
$5,958,987
$1,898,322
"155",245
"112", 808
—$1,080,557
$1,812,903
—x$l ,094,273 x$l,094,381
549,119
373,351
59,501
$2,011,130
$1,087,467
435,434
66,345
—
Hire of equipment
Other interest, discount, Ac—
—
—
„———_„def.$387,066 sur$109,901 sur$421,883
on A. & B. bonds, due 1917, amounting to $461,080, defaulted.
DIRECTORS.—W. L. Ross (Pres.), Jtohn Hubbard, T. P. Shonts.
E. J. Berwind, Clarence Brown, Spencer D. Carr, Colgate Hoyt, Win. Shillaber, Frank H. Davis, J. S. Bache and James Steuart MacKie.
Office,
60 Wall St., N. Y.—(V. 110, p. 972,1291.)
—
★ TOLEDO TERMINAL RR —Owns belt road, 28.77 miles (including two
bridges)
with 2M-mHe branch to terminal station; total, 31.27 miles.
U. S. RR. Admin, in May 1918 sanctioned capital outlays of $173,964'
V. 107, p. 2156.
,
ORGANIZATION.—Controlled
by nine roads.
V. 84, p. 130; V. 85,
100,. 347, 1402; V. 86, p. 170.
outstanding, $4,000,000.
Of the $6,000,000 new bonds, $4,200,000 have been issued and $109,000 held in treasury.
V. 99, p. 1216.
The Pere Marquette and Cin. Ham. A Day. (foreclosed) . each guaranteed
payment of 16.12% of the interest on the bonds, and the Hocking Valley,
Pennsylvania Co., New York Central, Mich. Central, Tol. St. L. & West.
Grand Trunk Western, Hocking Valley and Toledo A Ohio Central, 9.68%
each.
For cal. year 1918, Federal compensation, $252,999; other income,
$2,833; deductions, incl. int. on funded debt, $189,000, and other charges,
leaves a balance, deficit, of $3,519.
For cal. year 1917, gross, $587,195;
net, after taxes, $62,714.
A. B. Newell, Pres. 3c Gen. Mgr.; D. C. Follas,
Sec. & Aud.; w. L. Schulte, Treas.—(v. 110, p. 1291.)
p.
Stock
ATONOPAH & GOLDFIELD RR.—Owns Tonopah Jet. via Tonopah tr
Bullfrog Jet., Nev., 89 miles; trackage, 9 miles; branches. Sec., 12 miles.
V. 82, p. 80.
DIVS.—1906. 1907. 1908-11. *12. *13. *14.15 *16. '17 *18 *19 '20(Apr)
Common.-27%
10%
None
I
3
7M
7 10H 7 3M 10M 7
7
Pref——27%
10%
None
77
77
7
7
77
7
A
sinking fund retired to July 1 1917, all the $1,150,000 bonds therefore
V. 105 p. 717; V. 82, p.806.
Issued under the $1,500,000 mortgage of 1906.
to
★TOLEDO ST. LOUIS & WESTERN RR.—Owns road from Toledo to
East St. Louis, 454 m. (mostly 75 & 80-lb. steel rails); sidings, &o., 182 m.;
also has trackage to St. Louis and Toledo Union depots.
Owns jointly
with the Grand Trunk Western Ry. all the Btook of the Detroit A Toledo
Shore Line Ry., Detroit to Toledo, 48 miles, jointly guaranteeing its 4%
bonds: present issue $2,918,000.
V. 76, p. 655.
ORGAN!N.—Successor of Tol. St. L. A K. G. (foreclosed); V. 70, p. 1196.
In Aug. 1907 acquired control of the Chicago A Alton, viz., $6*480,000
..
--$8,306,127
..$1,607,619
994,294
86,263
-----
income.-
Interest
★ TOLEDO RIVERSIDE RY.—(V. 107, p. 1838.)
—
1919.
$1,637,722
1918.
Pres., W. K. Vanderbilt Jr.; V.-P., F. B. Sheldon; Treas., E. N. Bennett.
—(V. 110, p. 971, 1291.)
LATEST
—
1-Mar. 31
1920.
.$2,434,195
481,507
REPORT.—For cal. year 1918 was in V. 109, p. 1787.
—Years end. Dec. 31-
1916.
$78,927
as certified by I.-S. C. Comm., $994,294, not
A claim has been filed with the Federal Government for an
compensation of $1,170,346.
V. 109, p. 1787.
Gross.-
bituminous coal.
$6,203,847
~
Balance, surplus
STANDARD RETURN
yet executed.
Jan.
1917.
-
Total income
Stock.—Jules S. Bache, Chairman; E. P.
Goetz, Sec.; Empire Trust Co., N. Y.t depositary.
In Dec. 1916 certs, of
deposit for over 85% of the common and pref. were on list of N. Y. Stock
Exchange.
V. 99, p. 1750, 1911; V. 103, p. 2239.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3. *
1918.
1919.
O. S. Herring,
Committee for Pref. and Com
annual
$8,088,541
1918.
>
Committee for 1st M. Bonds.—Alvin W. Krech, Chairman;
Sec., 37 Wall St.
V. 100. p. 1753.
31
$10,129,660
Years end. Dec. 31—
Operating revenues
Other income—-
was
tary.
In Oct. 1916 the certs, of dep. for $4,559,000 "A" bonds were listed
on the N. Y. Stock Exchange. V. 101, p. 1208; V. 99, p. 344,408.1301,1675.
$9,078,909 $10,129,659
436,108
1,176,864
ANNUAL REPORT.—Report for 1918 was in V. 109, p.
1918, 8,194,799
l-Dec.
since.
2% to July 31 1912 and 4% thereafter) in exchange for C. A A. com. stock
the basis of $35 In bonds for $100 stock, but the bonds of both series are
2544.
Jan.
none
on
$1,525,000 and Kanawha & Hocking Coal & 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 & H. C. & C. Co.
—V. 109, p. 1529.
New Rolling Stock.—The Director-General of RRs. allotted 750 freight
cars, estimated to cost $2,138,250, and 20 locomotives, estimated to cost
$1,024,000; a total of $3,162,250.
Of this equipment, 392 freight cars and
20 locomotives were delivered during 1918.
These allotments were accep¬
ted by the company and the financing of the cost thereof is being arranged
between the Director-General and the company.
V. 109, p. 471.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
Net--
A xAug 1 1918
O Apr 1 1950
A Aug 1 1917
F
A
A Aug 1 1917
Various To 1921
secured by Chic. & Alton stock are limited to $12,000,000, Series A being
Issued in exchange lor O. A A.pref. stock,$ for $, and Series B (bearing int. at
int. of the
bonds at par and int.
Federal Court of Ohio stepped in and bought the
Federal
A
BONDS.—Of the Prior Lien 3 Ms, $425,000 was in the treasury Dec. 31
1918.
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
by the coal companies of the interest on their bonds, the New York
Central RR., under terms as to holding by a trustee, &c., imposed by the
total tonnage in
4M
A
F
PREFERRED DIVIDENDS.—1907 to Oct. 1911, 4%;
Common stock. $10,000,000; par, $100.
ment
.
2-4 g
5
A
A
V. 93, p. 1669.
1911.
5
5
1910.
7M
7H
GUARANTIES.—The company guarantees the principal and
Net—
tg
4 g
The stockholders protective committee in Nov. 1918 brought suit to pre¬
Kanawha A Michigan first mike. bonds (see that company).
The Toledo & Ohio Central Ry. Co. (of which the N. Y. Central owns all
of outstanding stock) and the Hocking Valley Ry. Co. were guarantors of
the bonds of the Continental Coal Co. and Kanawha & Hocking Coal A
Coke Co.
The bonds having been declared due because of default In pay¬
Gross
F
6
RR. Administration from compelling the company to pur¬
chase 1,250 freight cars assigned at a cost of $3,572,250, which it is claimed
far exceeds their normal value. Y. 108, p. 2009, 2098.
1912-13.
1913-17 incl.
5 Yearly
None
5 yearly
None
Obligations .—In Mar. 1917 sold $1,200,000 4M% equipment trusts
covering 1,000 all-steel 55-ton hopper cars.
V. 104, p. 1265.
p.
m9paid~Feb 2l"
Columbia Tr Co, 60 Wall
1 1925
vent the U. S.
operation, $1,086,650; Zanesville A
(additional), def., $107,598.
DIVIDENDS.—
ri909.
Common (since 1908)——(%)(
1
Preferred (1%)
I
5
'TheNew
J"""A"""J July
receivership.
Annual compensation under Govt,
V. 105
1,650,000
500.000
100
1905
1907
1896
1916
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.
Western
3 M g
Ry
—
Toronto Ham & Buff—1st Me $40,000 p m—AB.zo*
Consol 1st M $10,000,000 sk fund guar
-Gr
Equip gold ser A due$76.000 s-a (V,90.d.361)C«.x
Or at end of
100,000
0,500.000
6,480,000
5.047.000
547,410
4,200.000
1,000
Preferred stock 7% non-cum——
Tonupah & Tidewater RR.—1st M deb stk oerts g gu
Sterling bonds, guar, redeemable 105-—.
—-
July 11917 int defaulted
Jan 1
RIverRy
451
■
Tonopah & Goldfleld—Common stock—
J
A
mmmf mmmmm
July 1 1917
6<rt"l0"'lT,"I%
J
•4 g
$4,895,000
100
100
1887
230
bus A
Toledo Walhondinc Valley & Ohio—See Toledo Colum
Tomblgbee Valley—See Alabama Tennessee A Nort
x
[Vol. 110
REPORT.—For year ending Dec. 31 1917, V. 106, p. 2443.
Gross
Total Net
Int.
Pf. Divs. Com. Die.
'
,
'
Earns.
Balance,
Income.Rents,&c.{7%v.a.){J%p.a.)Sur.orDef
1918—$472,608 $127,891
$9,431 $35,000 $U5.500def.$32,046
0 mos. 1918
$253,907
$77,492
$4,861 $17,500
$57,570 def.$2,439
Year 1917—--$625,612 $274,986 $121,956 $35,000 $115,500 sur.$2,529
Pres., M. B. Cutter; Sec., Wm. F. Henshaw, Bullitt Bldg., Philadelphia.
—(V. 106, p. 397, 2230, 2443.)
Year
TONOPAH
& TIDEWATER RR.—See
page
139.
A TORONTO HAMILTON & BUFFALO RY—Owns Welland Junction
to Waterford Junction, Ont., 80 miles; Port Mailtand 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.
RAILROAD
Date
Par
Amount
Rate
When
Road
first page.)
Bonds
Value
Outstanding
%
Payable
1914
Trans-Mlsslsslppi Term Co—IstM sf red 105 Gyc*r*
Note Issue $4,250.000 at 7% g call 101. Ext3yrs_Ea
Transylvania—First mtge gold $500,000 ----O-xo'&r
Traverse City RR—See Grand Rapids & Ind Ry—■
Tremont & Gulf—First mtge gold red text-.-lC.xc*
froy & Green bush—Stock 7% rental New York Cent
Tuckerton RR—1st M ext 1910 red 1920 at 105.--o*
Ulster & Delaware—Cons M tor $2,000,000 -g-Ce.o
Refunding mortgage $3.200,000
_-G.o*<fcr
Unadilla Valley—First M $200,000 gold redeem at 110
Underground Electric Railways London—
4H% bonds £3.000,000 oallable at-par (see text).
Central London Ry trust ctfs £3,000,000 guar 4%.
Flrst oum 6% deb (income) stock call at 125---..
Inoome bonds 6% non-ouin call at par £6,500,000.
Capital stock (full paid)
—
"A" Ordinary shares of 1 shilling each£60,035—
Contingent certificates
Met Dlst and Lon El Ry pow house 4% rent chg stk
1906
8ee text
67
1,000
600
1880
101
1888
1902
"19
1904
1,000
1,000
1,000 <Sso
1907
£ &o
£10
1 1934
4 H
4
J
do
Jan
1 1933
M
*
1 1952
Jan
&
M
&
8 Jan
do
do
do
Bankers Trust Oo, N Y
N Y, Lond,
Amsterdam
Dec
4% paid in 1919.
1 1948
pd 6
mos
1918
Baring Bros., London
London
Company's compensation under Federal contract, $100,000
provide for betterments, refunding, &c.
V. 101, p. 528;
The Michigan Central RR. Co., Canada Southern Ry. Co
a guaranty of the interest
thereon and provide for sinking fund in proportion to their respective in¬
terests therein, but In March 1917 the Ohio Supreme Court held that,
while the New York Central might guarantee such of the Toronto Hamilton
& Buffalo bonds as It may Itself own or acquire, it is not permitted, under
the Ohio taw. to make a Joint guaranty with the other proprietary com¬
panies.
See V. 101. p. 1975, aud Oaa. Pac., V. 103. p. 1508; V. 104, p.1146.
Cal.
Gross
Net (after
Other
Charges,
Balance,
Year—
Revenue.
Taxes).
Income.
<fec.
Dividends.
Surplus.
1918—$3,045,482 $1,109,324 $113,050 $319,867 (5%)$225,625 $676,882
1917— 2,358,024
749,482
81,532
296,475 (5%) 225,625
308,914
1916— 1,870.237
705,029
87.849
279,028 (234) 101,531
412,319
—(V. 102, p. 1626; V. 103, p. 1593; V. 106. p. 930, 2346; V. 108, p. 1722.)
RY—See Grand Trunk Pacific Ry. above.
TERMINAL CO.—New Orleanst erminals,
Texas & Pacific Ry. and Mo. Pac. RR. Co. each
★ TRANS-MISSISSIPPI
J2,000,000 stock of Trans-Mlsslsslppi Terminal RR
jo'
Trans-Mississippi Terminal Co., and jointly guarantee
3or
Erin, been Int. not exceeding $7,500,000of $4,250,000the bonds, $6,071,000
bonds_. Of 6% 3-year gold notes
have and deposited to secure an Issue
j
The shareholders voted Oct. 22 1917 to extend
Nov. 1 1917 to Nov 1 1920, the interest rate being
7%, the joint guaranty also being continued.
See V.
105, p. 1523, 1709.
Of the $4,250,000 notes issued, $165,000 retired
through sinking fund, $392,000 in treasury and $3,693,000 in hands of
public.
Operating merger of freight terminals still in force in Oct. 1919.
V. 107, p. 803.
For cal. year 1919, Federal compensation, $665,391; taxes,
$14,462; int. on bonds, $264,291; rents, &c., $160,000; sink, fund, $39,876;
miscellaneous, $23,168; bal., surplus, $163,5941914.
(lump sum).
Manager, W. B. Scott, Houston, Texas.
$5U0.UU0; par, $100.
In Aug. i90o made a first mortgage, to
secure 30-year 6% bonds due 1935 at $30,000 per mile, all to be deposited
as Issued under Col. & South, refunding mortgage; outstanding June 1916,
Federal
.Stock.
Cert*, of Indebtedness to Ool & Southern
18,760,000.
and Chic. R.I. &
)
.
TRANSCONTINENTAL
dec
J
3%
59.949
payment
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,-
deficit in the net operating revenue of $116,160,
to which was added for taxes, $71,979, les3 net credit in miscellaneous items,
$40,954, creating a net income deficit (before deducting fixed charges),
$147,185.—(V. 109, p. 677, 1180; V. 110, p. 1850.)
For 1917 there was a
Pacific Ry. Oo. were to join in
i
Office. 149 B'way N Y
Guaranty Trust Co, N Y
5.000.000
£2,250,000
1750.
Nov.
Oct
do
J
noni'l
£1
property, to
6%
NYTreas Of ,Gr Oen Ter
F & A 31 1945
I shilling
See V. 68, p. 475, and advt. in "Chronicle" of
11
1899.
The Oonsol. 1st M. bonds ($10,000,000 auth.) are a first lien on the former
Erie 3c Oatario Ry. at $45,000 per mile, and a third lien on the remainder of
dated
do
J
5,000,000
£ dec
1908
Mar.
the
do
A
4 g
Up to 6
6,330,050 Up to 6
practically guaranteed.
one-half of the
J
K •'
Dividends are Payable.
Feb 1 1948
New York and Chloago
June 15 '20, 334 Troy, N Y
J uly 1 1930
Camden (NJ)S D do Tr Oo
June 11928
Central Un. Trust Co,N Y
&
g
Places Where Interest and
1 1956
1.273.000
BONDS.—Under traffic agreement with N. Y. Central, Michigan Cent.,
Canada Southern and Canadian Pacific, interest on 1st Mtge. bonds is
Co.. successor to the
8c
£1.832,400
2,548,671
1912
Dec. 31 1918, $475,000.
own
F
J Jan
J do D
J
Dividend
and Maturity
J July 1 1944
N Nov 1 1920
do
2,000,000
1,000,000
200,000
31 1918.
named on
and $1,000,000 consols. V. 61, p. 753;
V. 63, p. 359; V. 68, p. 475, 1134; V. 69. p. 29.
In Oct. 1912 a cash divi¬
dend or 20% was paid.
On Oct. 1 1913 1H% (quar.) was paid, 1914,
Jan., April and July. I H%) none then to Jan. 1917, when 1# % was paid:
April 1917 to Jan. 1919, 5% p. a. (1H% quar. J.).
In April, July and Oct.
1919 and Jan. 1920 paid l%% .
V. 100, p. 310.
Loans and bills payable
opened Feb. 15 1916.
&
275,000
100,000
1908
6
434,000
29
Dec. 31 1918, owning $749,600 stock
V. 99, p
&
M
J
1,550,000
&o
J
7
5 g
$3,693,000
STOCK.—Auth., $5,500,000, $4,512,500 outstanding Dec.
held by N. Y. Central system and Canadian Pacific, the last
the
5
$100 &c
1,000
1,000&o
50
1914
42
129
Control.
Last
Miles
COMPANIES
[For abbreviations, &c., see notes on
and Canadian
APrivate
RAILWAY STOCKS AND BONDS
mat, 1920.] *g0°sr,t
★ TROY
RR.—Own3 from Troy to Rensselaer, 6 miles,
Co. In 1851 at 7% on $275,RR. Dec. 1914.—V. 106, p.924.
& GREENBUSH
'louble track; leased to the Hudson River RR
000 stock.
-
Lease assumed by N. Y. Oent.
A TUCKERTON RR.—Owus Whitings Station to Tuckerton, N. J., 29 m.
stock authorized, common, $125,000:
pref., $500,000; outstanding, oommon, $106,868: pref.. $445,374; par, $50.
Year ending Dec. 311919, gross.
$111,602;net, $11,720; int.and taxes,Ac., $5,410; bal., sur., $6,420. Pres..
«;
V.-P. & Treas., Wm. Self ridge, Philadelphia; T. P
Price, Sec., Tuckerton.—(V.
90, p. 628.)
ATUSCARORA VALLEY RR.—Port Royal to Blair's Mills, Pa.. 27 m
(3 ft.).
Stock Issued. $150,000; par, $50.
The $150,000 5% First Mtge.
bonds which fell due July 1 1917 are owned by J. M. Blair and H. O. Howor.
the present owners
of the road;
reorganization probable, V. 105, p. 820
year 1918, gross, $34,250,
1162; V. 105, p. 820.)
Year 1917, gross, $32,947; net, $615.
For
def., $10,399.
Pres., J. M. Blair.—(V. 67, p.
★ (THE) ULSTER & DELAWARE RR.—Owns from Kingston Point (on
Hudson River), N. Y., to Oneonta, 107.103 miles, with branches, a total of
128.88 miles.
V. 74, p. 42.
Stock, $3,000,000; outstanding, $1,900,000;
par,
notes, due
$100.
As to refunding 4s of 1902, see V. 75, p.
667; V. 79, p. 153.
RETURN," &c.—See page 5.
"STANDARD
Increased from 6 to
Federal
★ TRANSYLVANIA
Gross
def.67,050
Net
REPORT.—For
Lake Toxaway, N. 0., 42
1 1906 at a rental
and $30,000 thereafter.
V. 83, p. 97.
Bonds, see table.
(V. 87, p. 814.)
RR.—Hendersonvjlle to
of the railway company except its equipment.
No bonds.—(V. 105, p. 1999.)
the property
TRAVERSE
Stock auth.,
int.
1919:
Gross,
1919.
31
1918.
$1,006,444
def.8,199
$1,215,809; net, after taxes,
$83,285;
net,
$12,389;
interest,
from Bridgewater to New Ber.
$100.
V. 78, p. 104.
Bonds,
Morris is trustee. Year 1919,
UNDERGROUND ELECTRIC RYS. CO. OF LONDON.
underground electric road, viz.;
Tube Co.—Stock mostly
Pres.,
$8,399; surplus, $3,990.
Now York.—(V. 78, p. 1168.)
owned. London Electric Ry
owned, Met.DIst.Ry.(3M
m.
LTD.—Operate-
22^
owned jointly)2S
ORGANIZATION.—The company was registered April 9 1902
under
the electrification of the Met. DIsfc. Ry.
leased), and also became largely interested in1 three tube
IM,
t A I 14
T
TP
IJ 17
English Cos. Act and undertook
(now controlled and
LC.i.
%
*
an. ft
.
Of the bonds ($5,000,000
the
★ TRENTON DELAWARE BRIDGE CO.—Owns bridge 0.19 miles in
and receives tolls from foot passengers
to Dec.
and vehicles.
1 2870 to Penn. RR.; rental, $20,000 yearly
Stock, $298,900.
length,
Leased June 20 1877
and 66 2-3% of taxes.
Contract terminated July 1 1917 with Penn. RR. Co.
Penn. and New Jersey, May 31 1918.
and bridge over to States of
★ TRINITY &
Tex.. 235.5 m.;
BRAZOS
VALLEY
RY.—Owns Cleburne to
Houston.
Teague to Waxahachie, 67.32 m.; trackage at Houston
total, 315.41 m.
On June 16 1914 J. W. Robins was appoint¬
ed receiver, the int. on bonds due Jan. 1 1914 being in default.
In Sept.
12-59 m.;
1919 Gen. John A. Hulen
resigned.
was
appointed receiver to succeed L. H. Atwell-
V. 109, p. 1180; V. 98,
p.
1921.
Colorado Soutnern and Rock Island Co. each own half interest In stock
(the Rock Island's Interest being subject to the lien of the
Colorado & South¬
mtge.)
The Chic. R. I. & P. Ry. Co. also agreed to pay for, on May 1
1935 (date of maturity of Col. & Sou. refunding and extension mtge.),
one-half of the 1st mtge. bonds and other securities of the Tr. & 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. I. & Pac., but in Jan. 1919
a settlement was reached by which the latter company on payment of about
$4,000,000 cash to the Colorado Southern, obtained ownership of a half
interest in the property.
V. 109, p. 672, 677; V. 108, p. 380, 1611; V. 103.
ern
2429; V. 100, p. 2087; V. 102, p. 885.
Owns one-quarter interest in
entire
year
Lewis R. Morris, 27 Cedar St.,
Soutn
stock
of
Galveston
Houston
Terra. Ry.
Belt fc Term. Ry. and practically
Lionaon
JKy.,
ana amaigainauuu w
ivxeu.
,r' r/Tn
(V. 106, p. 1689; V. 107, p. 2189; V. 10$
London Suburban Tract. Co. (V. 95, p. 1609
Pooling agreement of 1916, see V. 102, p. 801. 1541v
As to Joint power-house rent charge stock, see V. 92, p. 1637, V. 93. I
135, 347, 872.
Income bonds have 11 votes for each £100 principal.
In April 1914 £700.000 3-year
5% notes were sold (in 1917 renewed
secured by City & South London and London Elec. Ry. stocks.
Paid o
April 1 1920, V. 110, p. 1643.
London United Tramways Co.
p.
p.
$1,215,809
def.88,515
A UNADILLA VALLEY RY.—Owns road
un. N. Y.t 20 miles.
Stock, $200,000; par,
table above; V. 78, p. 1499.
Lewis R.
CITY RR,—See Grand Rapids & Indiana Ry. Co.
after Feb. 1 1918 at 105
$3,450,000 unissued are reserved for extensions at not over
$30,000 per mile, for Improvements, &c., under restrictions contained In the
mortgage.
V.88,p. 1314.
For year 1915-16, gross. $302,890; net. $120441; int.. taxes. &c.. $101.563; improvements, $20,201; bal., def..$892.
For cal. year 1917, gross, $292,564; net, after taxes, $111,123.
Pres., J. S.
Joyce, Chicago; Sec., Frank P. Stubbs Jr., Monroe, La.—(V. 88, p. 1314.)
&
cal.
Tunnel—Leased, maj. stk.
A TREMONT 5c GULF RY.—Owns Tremont to Wlnnfield. La.. 48 miles;
Meaefee to Rochelie, 18.47 miles: totai, 66.74 miles.
Stock authorized.
$5,000,000; outstanding, $2,000,000; par $100.
auth. issue), redeemable in whole or part on and
1919.
$190,374
def.69,718
see
gross,
A TRAVERSE CITY LEELANAU & M ANlSTlQUE RY.—Owns Hatcbs
to Northport. Mich., 24 miles.
Trackage Traverse City to Hatch*. 6 m.
total, 30 miles.
In 1918 suspended operations, and in May 1919 a con¬
tract of sale was entered into with the Leelanau Transit Co., covering all
$278,000.
-Jan.
def., $136,138; FedT compen'n, $128,009; other income, $68,003; deduc¬
tions, $180,340; divs. (3%), $57,000; bal., def., $41,257.—(Y. 106, p. 2651.)
Leased to Southern Ry. for 50 years from Jan.
of $25,000 yearly for 10 years
Stock authorized. $420,000.
1920.
$236,542
EARNINGS.—
1 -Dec.
31-
——Jan. 1 -Mar.
Compensation $665,392 yearly during Federal control.
Pres., C. L. Wallace.—(V. 107, p. 403, 803.)
miles.
incl., 3%.
DIVIDENDS.—Annually in January 1914 to 1920,
581, 685,
2023)
as
INTEREST ON 6% NON-CUMULATIVE
Mar. 1912.
Sept. 1912.
1913 to
1910.1911
14%
1)4.%
INCOMES (1908)—
1916. 1917.1918. 19
2%
6% yearly
4%
4%
<
Capitalization of Subsidiary Companies and Amounts Owned by Pai
Company.—See issue of June 1918.
Statement of Frank Pick, Commercia
Manager on June 24 1919 before Select Committee of the House of Com¬
mons.
1%
V. 109, p. 578.
REPORT.—Annual report for year 1918 in V. 108, p. 1605:
Cal
Inc.from
Fixed
Interest on Int. on 1st Cum. Other
Balance,
Year.
Invest.
Interest.
IncomeBds. Inc.Deb. Stk. Int..&c. Sr.orDf.
1918— £760,265 a£ll5,766 a(5)£445,909
(6)£76,380 £116,656 sur£5,553
1917.1 606 730
109.944
a(4)337,602
(6)76,380
82,297
sur.507
1910
653.361
106.508
a(5)4O0.178
(6)70.380
72,236 def 7.942
a Includes Income tax.
-
Hamilton, G.O.S.I., Chairman; Sec., W. E. ManElectric Railway House, Broadway, Westminster. Lon¬
Rt. Hon. Lord Geo.
<1 click.
Offices,
don, S. W.—(V. 110, p.
872. 1090, 1643.)
•fcGovernment
130
Onion Pacific RR—Common stock $296,178,700
Prof stock 4% non-cum $200,000,000 (V 80, p 1364)
First M g RR A land grant
$100,000,000 g
Bax
Bonds redeemable convertible (text)
Bax
FlrstLlen & Ref mtge red 107 *4 beg 1918-Ea.xo* Ar*
Par
Amount
Rate
When
Value
Outstanding
%
Payable
1897
2,090
1907
—
do
3.556
1908
3.556
sterling
do
1908
1918
c*Ar
Ten-year Secured gold bonds
Union RR—Bee U 8 Steel Corp under "Industrials
Union Station Co of Chicago—See Chicago Union Statio
Un Terns Co, Dal!—1st M red 106 beg '22 text.CCyc*
Union Springs St Northern—See Birmingham & South easter
United N J RR & Canal Co—Stock 10% guaranteed..
m
General mortgage of Loan of 1923
1871 for $20,000,- Loan of 1929
000
(now
first Loan of 1944
mortgage) FP se¬ Loan of 1951
cures
all equally Loan of 1948
1st M g red
United RRs of Yucatan
xy
gold
m>
n
£
&
&
Places
M
&
M
&
J
&
J July 1 1928
5g
A
do
S June 1 2008
J
&
Where Interest ana
Dividends are Payable,
July 1 *20 2*4% Office. 165 B'.way, N
do
do
Apr 1 1920 2%
J July 1 1947
J July 1 1927
S June 1 2008
O Apr
&
1,000
5,000,000
100
21,240,400
1,000
1,000
1,000
1912
m.
O
4 g
6 g
y4,419.805
20,000,000
1,000
Q—J
A
J
and Maturity
Office,
New
Y
do
165 B'way,
York
and
do
N Y
London
do
Office. 165 B'way. N Y
Co
1,824.000
6,020.000
5.646.000
5,669,000
4 g
F
&
4 g
M
&
4 g
M
&
3** g M
&
841.000
£825.000
4 g
M
&
5g
A
&
Cont&Com TrAS Bk, Oh
1 1942
n.
.
233
road
1883
1889
1894
and
1901
canal
1908
1,000
1910
£50 &o
xr
miles
gold
xo&r
gold
xo&r
gold guar.._.x
g p & 1 gu.xo&r
101 beg'20 si par
Union Pacific RR in Dec 31 1918 owned further
Text
$100 $222293 100
100
99.543.500 4 In 1919
4 g
500 Ac 100,000.000
4 g
26.835.225
500 Ac
4 £
*61.345.500
$
Dividend
Last
Date
Road
[VOL. 110.
Control.
Bonds
Miles
RAILROAD
COMPANIES
(For abbreviation*, Ac., see notes on first pageJ
do
APrivate
RAILWAY STOCKS AND BONDS
Contract.
503
viz.:
nts,
amou
1.000
Of
$14,098,0 00; of
x
■r
10
.
V
Apr 10 '20
Q—J
2*4 Offices, PennRR, Phila
do
1 1923
do
S Sept 1 1929
S Mch 1 1944
do
do
do
do
do
do
do
do
A Feb
Mch 1 1951
Sept 1 1948
O April 1950
Apr *17 coup pd July
'17
$19,400, 000.
y
-
•;a
★ UNION PACIFIC RR.—(See Map.)—The lines operated on Jan. 1 1919
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:
Miles of Road on
Wholly Owned Leased Tr'k'ge Deduo
Total
Jan. 1 1920—
Owned.
Jointly. &c. Rights.
Hons. Operated.
Union Pacific RR—
3,601
5
6
9
,7
3,614
Capital Stock Owned—(See each co.)
Oregon Short Line RR
2,190
x207
19
68
2,348
Ore.-Wash. RR. AN. Co... 1,972
74
207
y278
2,070
Total
79
7J63
.
-
308
8,032
353
235
Leased from Oregon-Wash. RR. & Nav. Co.
y Includes 207 miles
leased to Oregon Short Line. ♦Also owns *4 interest In the Los Angles &
Salt Lake Ry. (recently San Pedro Los Angeles & Salt Lake), which see.
In Dec. 1918 was reported to have acquired control of former Salina &
Northern RR. forclosed, Salina to Osborne, Kan., 81 miles.
V. 107,
x
p.2189.
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 Southern Pacific stock ap¬
proved by the U. S. District Court June 30 1913 (V. 97. p. 50). $38,202,400
of the Southern Pacific Co. stock was on July 16 1913 exchanged for the
entire holdings of $42,547,200 Baltimore 3c Ohio stock (one-half pref.) of
the Penn. RR.
The remaining $88,357,600 So. Pac. stock formerly owned
was deposited with a trustee, which Issued certificates of interest in the
stock, certificate holders to have no voting rights and receive no dividends
nntll they exercised the option to convert their certificates into So
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
the interest of the Union Pacific.
In 1916 reported net profit of $10,099,290 from sale of Southern Pacific Oo. stock.
O. P. stockholders in 1913, under an offer, which was underwritten, sub¬
scribed for $84,420,700 of said $88,357,600 cortifs. of interest at 92.
See V.
97. p. 177. 445, 002, 730. 1288. 1904; V. 99, p. 895, 1675; V. 95. p. 1543.
SECURITIES OWNED.—On
sidiaries held
Dec. 31
1919 the company
and Its sub¬
below shown: (1) In affiliated companies;
unpledged except as
(a) stocks, $39,402,901; (b) bonds and notes, $42,108,600; (2) In outside
stock. $70,932,147; and their bonds, notes and equipment
trusts, $117,146,300; (3) (J. S. Liberty bonds, $16,362,050.
companies'
Some of Principal Securities Owned as Foresaid Dec. 31 1919 Face Value.
com. & pref- $5,400,027
Norf.A W. Ry. eq.4**s.
1,495,000
B.A O. RR.
&
Impt. 4*4s, due 2013; $1,000,000 Penna. RR. Consol. Mtge. 4*4s. due
1960 and $2,500,000 Gen. Mtge. 4*4s, due 1965; $6,000,000 Southern Pa¬
cific RR. First Ref. Mtge. 4s. due 1955; $4,000,000 Bait. & Ohio RR. Bef *
Gen. Mtge. 5s, due 1995; $5,000,000 Illinois Central RR. Co. 3c Chie St
Louis & New Orleans RR. Co. Joint First Ref. Mtge. 5s, due 1963; $4,C00
000 Denver Union Terminal Ry. 1st M. 4*4s, due 1964 (guaranteed jointy
and
others).
Guarantees $39,840,820 Ore.-Wash. RR. A Nav. 1st & Ref. 4s ($175,000,000 auth. Issue) 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
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.
Jan.
EARNINGS—
1 -Mar. 31
1920.
Gross
1919.
-Jan. 1 -Dec. 31
1919.
1918.
$29,715,948 $24,612,099 $110819,514 $98,443,364
10,746.044
7,400,293
36,882,835
38,565,554
Net..
REPORT.—Year
April.
now
ends Dec. 31.
Annual meeting first Tuesday in
Report for 1919 in V. 110, p. 1844:
Co. Basis
Federal Basis
1918.
1919.
1917.
1916.
8,032
8,016
7,987
7,933
$
$
$
$
Operating revenue...1.177,447,698 158,845,176 130,101,864 114,412,607
Oper. exp. & taxes
128.404,546 108,201,664
84,131,458
69,355,937
Average
Net
miles..-.
49,043,152
revenue
Net from operations
Federal rental
47,139,801
39,369,411
dr.527,086
Other income.i
Income from inv., &c
13,026,687
Total income
50,643,512
50.822.110
38.416.111
dr.263,686
11,747,311
45,970,406
45,316,464
45,056,670
*"49"274
1,258,501
12.246.971
11,791,367
49,899,736
57,157,105
58,562,142
2,795,633
1,627,972
14,513,368
14,004,260
15,390~356
Add'ns & betterments.
6,379,835
15,313,973
4,367,075
Preferred divs. (4%).—
3,981,740
3,981,740
3,981,740
3,981,740
Common dividends..(10)22,229,160(10)22229160(10)22229160(8) 17783,328
Federal
Fixed
war
51.869,012
2,293,226
15,156,573
taxes
charges
.
Balance, surplus
$8,208,313
None
None
17,039,643
OFFICERS, &c.—Pres., Carl R. Gray (V. 109, p. 2264): V.-Ps., E. E.
Bonds A equip. 4Hs-7,300,000
0.3c Alt. RR. pref. stock. 10.343.100
Gen.
Mtge. 6s ($8,-
N. Y. Cent. RR. stock.w$21,000,000
Ref. & Impt. M. 4*4s
3,000.000
Convertible 6s
8.000,000
Calvin (in charge of operations), H. M.
Thomas Price; Treas., F. V. S. Crosby.
417,000). Ac
9.228.000
O.AN.W.Ry. com.stk. v4.420,600
GenM.($4,500,000).Ac, 4,908.000
Oh.Mll.3t St.P.Ry.pref.. xl.845.000
Sundry bonds
4.975,000
P. & H. gold notes, Ac.
3,500,000
Illinois Gent. RR.stock_y22,500,000
Joint
Ref.
5s
($5.000,000), 3tc
5,077.000
No. Pac.—Gt.Nor.Jt-.4s.
Penn. RR. & Penn. Co.
Various bonds, Ac
W. A. Harriman, Mortimer L. Schiff, Robert S. Lovett, Oliver Ames, Wm.
G. Rockefeller, Wm. Rockefeller, Chas. A. Peabody, C. B. Seger, Robert
...
4.132.000
10,300,000
So. Pacific Oo. 4s. 1949.
San Fran. Term. 4s..
6.399.000
6,000,000
Equip trust 4*4s
4,068,000
So.Pac.RR. 1st ref. 4s. 14.568.000
Los.Ang.3t Salt LRR.stk. 12,500,000
1st M. 4s of July 11961z29,511,000
RR. Secur. Oo. stocks._
5,423,320 Union Pac. Coal Co. stk.
5,000,000
St. Jos. 3c Gr. 1st. Ry.
1st Mtge. 5s (out of
1st pref. stock
4,944,989
1,715.000
$5.000.000)
...
do
2nd pref. stock
Utah Light & Tract. 5s.. 12,136.000
3,370,579
do
com. stock
4.553,600 N. Y.Conn. RR. 1st
3,000.000
v w x y z Amounts Pledged.—Oregon Short Line
Mtge. covers $4,018,700
_
r
y,*'z.
$20,000,000 of "w," all of "x." $8,700,000 of "y," and $27,See also Secured
item
577,000 of
gold bonds below."
——*n 1901 common stook
was authorized to be increased by
$100,000,000, to provide for conversion of First Lien 4s, and on June 15 1907
by $i00,000,000, of whloh $42,857,200 to be reserved for conversion of the
$75,000,000 4s of 1907; balance for future requirements.
See BONDS
below
V. 82. p
LATE DIVS.—
Common (%)
Extra—
1271;
V. 84, p. 1115;
V. 85. p. 1587.
( 06. '07-*13. '14. '15. '16. *17. *18. '19.
{ 8 10 yearly 9
8
8
8
9*$
10
text
1920.
Text
3*4 H
Jan. 1917 paid 2% and 2% extra, Apr., July and Oct., 2% and *4 % extra;
Jan. 1918. 2% 3c *4% ext.; April 1918 to July 1920. 2*4% 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. 3t Ohio pref. and
22*4% of B. 3c O. eom. held in the treasury and also $3 per share in cash.
19*9
._
..
_.
—
1682167*238* 464' 625' 84°* 9U' 1240' 1394' 1539' 18471 V*
P*
BONDS.—The 1st mtge. of 1897 covers the original 1,854 miles, lnoluding 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¬
vertible 4s at 90*
These
are
convertible at any time be -ire July 1 1917 into
oommon stock at $175 per share, and are redeemable at the option of
the company, or on any semi-annual Interest day since July 1 1912, at a
premium of 2 *4% • upon 90 days' notice. 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¬
1,466 miles of main track, including the line from Juleshurg 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 JW4,096,000 to be issued only for additional lines, impts., Ac.
V. 99.
p. 749, 818, 805; V. 80, p. 1468; V. 87, p. 546, 1012, 1541; V. 90, p. 44»
V,-91, p. 872; V. 100. p. 1834: V. 101. p. 1465; V. 102. p. 801. 1719.
In July 1918 sold an Issue of $20,000,00010-year
6% Secured Gold bono*.
Secured (V. 106, p. 2758) by deposit of the
following collateral, estimated
market value of over $25,000,000: $2,000,000
Chicago 3c N. W. Ry. Gen.
Mtge. 4s and $2,500,000 6s, due 1987; $3,000,000 N. Y. Central RR. Ref.
gage on
DIRECTORS.—Otto II.
Adams, Wm. A. Harrim^n; Sec.,
Kahn, F. A. Vanderlip, Marvin Hughitt Jr.,
W.
Goelet, F. W. Charske, Carl R. Gray and H. W. Clark.
Treasurer's
office, Room 3234, 120 B'way, N. Y.—(V. 110, p. 972, 1643.)
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.;
Monongahela Southern RR.; total, 24.77 miles.
STOOK.—Auth. and outstanding, $2,000,000; par, $50; all or a major ty
owned by
U.
S.
Steel
Corp.
BONDS.—See U. 3. Steel Corp.
under "Industrial Companies" below
.
★ UNION TERMINAL CO. OF DALLAS.—Owns union passenger station
at Dallas, Tex., completed Out. 1916, for use by the Missouri Kansas A
Texas, Texas & Pacific, Houston A Texas Central, Gulf Colorado & Santa
Fe (Atchison T. & S. Fe system), Trinity & Brazos Valley, St. Louis A San
Franolsoo, Chicago Rock Island & Pacific and St. Louis A Southwestern
systems, each owning *4th of the $43,000 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. Oo. had dis¬
continued operating trains into Dallas, but while It is 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 1*4
city blocks oo 10 *£ acres of real estate in business
district, with 10 parallel traoks and space for 8 more; total trackage, 9.6
miles of main track, 2.8 miles of depot track and 3.1 miles of sidings, also
5 miles
leased from user companies.
All of the bonds ($5,000,000).
have been issued under said agreement, guaranteed principal and interest,
jointly and severally, by the eight proprietary companies.
V. 98, p. 1073.
1158, 1394; V. 103, p. 146.
In 1915-16 William Salomon & Co., N. Y.,
offered these bonds.
V. 101, p. 1887; V. 102, p. 1164, 1898.
Pres.. F. G.
Pettibone, Galveston, Tex.; Sec., A. S. Steirer, Dallas, Tex.; Treas., M. L.
Buckner, Dallas, Tex.—(V. 103, p. 146; V. 107, p. 403, 803, 2187, 2383.)
★ UNITED NEW JERSEY RAILROAD & CANAL CO.—(See Map Penn.
RR.).—Part of a system of roads in Northern New Jersey, extending from
Camden to South Am boy and from Trenton to Jersey City, with branches
and connections, a distance of 166 miles; Hudson River ferries to New York,
1 m.; Del. A Rarltan Canal, from Bordentown to New Brunswick, Ac.,
66 m.; Phila. & Trenton and Belvldere, Del.—which see—are leased lines.
LEASE.—Leased in June 1871 to the Pennsylvania RR. for 999 years;
rental equal to 10% on stock, interest on bonds, taxes. Ao.
Of the $21,240,400 stock outstanding, the Penn. RR. on Dec. 31 1919
owned $1,350,000.
EARNINGS.—For year ending Dec. 31 1919, gross, $78,049,620; net
$8,108,416; other income, $122,445; war taxes, int., rentals, impts., Ac/
$9,828,076; dividends, $2,124,040; bal., def., $3,721,255.—(V. 106. p.924.)
UNITED RAILROADS OF YUCATAN.—V. 110,
p.
1090.
UNITED RAILWAYS OF THE HAVANA & REOLA WAREHOUS
LTD.—(V. 108, p. 2023; V. 109, p. 1459, 1893.)
*
CO
zn
Q
&
o
pq
Q
£
ca
Mo
o
H
c/2
!*
£
1-5
HH
"<J
Ph
o
<M
C5
P*
★Government
132
RAILROAD
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
Central RR
Utica Chen & Susq Val—Stock 6% guar by DL&W
Utlca Clinton & Bingbamton—Common stock
First mtge guar p & 1 by Del & Hud (end) „..N Jto
Utlca & Black River—See New York
100
1889
1.000
(for $500.000)
F
Van Buren Bridge—See Bangor 8c Aroostook RR.
Vandalla RR—See Plttsb Cln Ch 3c St Loula RR
Vera Cruz & Isthmus—See National Railways of M exlco
59
Vermont & Mass—Stock 6% guar by Bos & Maine._
Bonds currency guar p & 1 by Fltchburg RR
*24
Vermont Valley Ry—Stock
24
First mortgage $1,500,000 gold
__BB.zc&r
1-year notes guar (see text). ext. 1915-'16
Vicksburg A Meridian—See Alabama & Vlcksburg
188
Vlcksburg Shreve & Pac Ry—Com stock $3,000,000Preferred stock 5% non-cumulative $2,200,000
188
General mortgage $3,500,000
F.zc*
188
Vlcks Shrev ft P RE prior lien ext *15 at 5% g-.Ce.xc*
Eq tr 1910; "D" 6s 1919
Virginia Air Line—See Chesapeake & Ohio
57
Virginia & Caro Sou—1st M $1,000,000 g (see text) .*
Virginia Midland—See Southern Ry
136
Virginia & Southw—1st M g gu by va IC A C
Clx
209
Hrst Consolidated mtg $7,000,000 gold —G.xc*&r*
Equip tr eer E due $25,000 s-a (V 93, p 1106).. Bax
1881
1,000
1903
1.000
100
Debenture stock, guar div
100
Valley (N Y)=—Stock 5% guaranteed by D L & W
First mortgage
—
1,000
1,000 Ac
1915
1885
1,000
1908
1911
1913
1914
100
1912
1920
_.
Ac
V. 106,p.2012.
—(V. 106. p. 601.)
The
Y. Ontario A Western.
Utica
A Mohawk Valley Ry
Capital stock, $849,285 (par $100), $200,000 of
$15,000 per annum.
which is guaranteed by Del. A Hudson 5% per annum; balance, variable—
3*4% 1898 to 1912, inch; 1913. 4%; 1914, 3*4%: 1915 and 1916, 3*4%:
1917, 3H%: 1918,3)4%: 1919. Feb., 1 %%: Aug., 1 y2%; 1920, Feb., 1A%—(V. 94, p. 1764.)
AVALDOSTA MOULTRIE & WESTERN RY.—Valdosta to MoultrieOa., 42 miles.
In Jan. 1910 the RR. was sold under foreclosure of 1st M.
for this Railway Co., organized Mar. 19 1917, with $350,000
capital stock.
V. 104, p. 258. 363.
<J. L. Jones, Pres.; and 8. W. Jones,
Sec.-Treas., Valdosta.—(V. 104, p. 258, 363, 953, 1389; V. 106, p. 1462.)
to B. P. Jones,
(N.
★ VALLEY
11 miles.
on
stock.
Y.)
RR.—Blnghamton, N.
Leased to Delaware Lackawanna
Y., to State Line of Penn.'
A Western at 5%
The $400,000 1st M. 5s were purchased at
per annum
maturity, Aug. 1 1911
—(V. 106, p. 601.)
VANCOUVER, VICTORIA & EASTERN RY. & NAVIGATION.—
Passenger and freight terminal at Vancouver, B. C.—(V. 103, p. 2080.)
VERA CRUZ TERMINAL.—(V. 105, 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 &
Maine RR. for 999 years from Jan. 1 1874 at 6% on stock, interest on bonds
and
organization expenses.
Interest and dividends regularly paid to
May 1918.—(V. 79, p. 2589; V. 106. p. 818.)
★ VERMONT VALLEY RR.—Owns Bellows Falls to Brattleboro,
Vt.,
24.44 miles.
Controlled by Connecticut River KB., which owns entire
stock, and was operated by Boston A Maine as agent under lease of Conn.
River, 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
stock of Sullivan Co. RR., Bellows Falls to "Windsor, Vt., 20.04 miles.
the
In
acquired control of the Montpelier A Wells River, Barre and
Chelsea RRs., incl., with spurs, 68 miles.
V. 92, p. 528, 660.
Dividend,
long 6%; 1904, 8%; 1905 to July 1916, incl., 10% yearly; 1917-18, none.
On Aug. 31 1910, James H. Hustis, President and temporary receiver
of the 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
that day.
V. 103, p. 805.
The six months' interest to Aug. 31 1917 on
the note was paid Oct. 1; the interest due Feb. 28 and Aug. 31 1918 was
paid when due.
V. 106, p. 930.
Bonds ($1,500,000 1st 4 As of 1910) are secured by first Hen on road, 24
miles, and additionally by deposit of $700,000 Connecticut A Passumpslc
Rivers RR. and 5100,000 Massawlppl Valley Ry
stock.
V. 91, p. 791.
In Jan. 1914 sold $2,300,000 one-year 6% 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 by B. & M. RR., and were extended to Aug. 31 1910.
V. 97, p.
1676; v-100'p-1919; v-10S'p-182>
March 1911
Calendar
Gross
Net, after
Earnings.
Taxes.
Dividends
Balance,
or Def.
$592,833 $133,732 $135,251 $234,025
sur.$34,958
1916
554,132
191,634
120,225
238,067 (5)$50,000 sur. 23,792
vtoui.
—(V. 105, p. 182, 999, 1310, 1414; V. 106, p. 930; V. 107, p. 907.)
Year—
Fanners' L A Tr Co, N Y
1940
1
5 g
J
A
J July 1
5 g
J
A
J Jan
5g
4A
Safe
A
1943
Dep
A
Bait
Tr,
N Y
Guaranty Trust Co,
do
do
1 2003
5
A
O Apr 1 1958
MAN Nov '20-Nov *21 Bankers Trust Co,
do
do
J
A
D June 20-June'23
5
MAS Mch 21-Mar '24 Guaranty Trust Co,
N Y
N Y
1,"
Feb
1917 7%
Farmers' L A T Oo. A LoB
MAN May 1 1902
A
&
O Oct '20-Apr *30 New York and Phila
7
5 g
6 S
Apr 30 19181%
★ VIRGINIA & SOUTHWESTERN R V.—Owns Bristol.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
Rogersville via Persia to Bull's Gap, Tenn., 14 m.; trackage, 22 m.; total,
225 miles.
In 1908 Southern Ry. purchased the $2,000,000 stock at $200
share and on July 1 1910 took a lease of the road for one year and from
year thereafter until terminated by either party, at a rental equal
equip, trust obligs. V. 87, p. 98; V. 103, p. 321. Divi¬
dends 5% each paid June 1912, June 1913 and Feb., June end Dec. 1914.
Jane and Dec. 1915 and June 1910.
Virginia Iron, Coal A Coke Co. guar.
1st M. bonds, p. A 1.
V. 75. p. 348. 398, 736; V . 76. P. 273.
Of tbe first
consol. 60-year 5s ($7,000,000 auth. Issue), dated April 1 1908, $2,000,000
per
per annum.
Operated by N.
owned flO miles) are leased to
lines
Aug 1918 Int pd when due
To 1922 A 1923
Various
6 AAA
59,938,125
62,573,400
15,981,441
1.000
100
470
yearly
2,000.000
5.000.000
75.000
147,000
191,000
31,271,500
27,955,000
29.500.000
5,200,000
1,000 Ac
1,000 &C
1.000
1,000
1903
★ UT1C4 CLINTON & BINGHAMTON RR.—Owns Utlca, N. Y., to
Kandallvlllc, N. Y31 miles.
Leased during continuance of chartei
and renewals thereof to Delaware A Hudson Company, which pays renta?
or
MAN Nov
524,000
100
UTAH RAILWAY.—See V. 104, p. 1389; V. 105. p. 2544;
qf $61,500
MAN
5 g
1,000
★ UTICA CHENANGO & SUSOUEHANNA VALLEY RY.—Owns Utlca.
N. Y.. to Greene,, N. Y., 75 miles; branch to Richlleld Springs, 22 miles
Leased to Delaware Lackawanna A Western at 6% on stock.
No bonds.
s'reet
5
158,091
1913
53 Devonshire St, Boston
O/fice Treas FItchb'g RR
Jan 1917 dividend unpaid
Safe Dep A Tr Co Boston
4*19 2A Treas. office, New Orl
Apr 7
'20 2 A Central Un Trust N Y
do
do
May 1 1941
1.323.000
1,000
1.000
1901
Payable
are
Sept
2,856,500
2,142,800
1,922,000
100
100
100
100
100
do
do
ser F due $21,000 a-a
Ba x
do
do
ser G due 24 M and 23 8 s-a
G.y
Virginian Ry—Common stock aufch $45,000,000
Pref stock $35,000,000 auth 5% cum red text
First mtge $75,000,000 g red at 110
F.xc* Ar*
Equip trust cert due semi-ann
c*
Wabash-Plttsburgh Term—See Pitts A West Va
Wabash Railway—
Common stock, $47,290,000—
Pref stock A 5% prof-shar, red 110 aft 5 yr» (text) .
Oonv5% pref stock B red 110 aft 1920 $49,970,000
1199778
50
,
„
A
A
O April 1920, 3%
6
MAN May 1 1923
3X
772,000
A
J Julyl 1916, 5%
10 J
1,000.000 10 In
A
O Oct 1 1940
1.500,000
4H g A
F & A-28 Aug 31 1916
6
2.300.000
3,193,000
100
1910
Where Interest an4
Dividends
and Maturity
MAN May 1 1920. 3% D L A W RR. New York
6
$4,000,000
049,224 3M%*19 F A A 10 Feb 1920 1^% Utica (N ) ) City Nat Bk
New York Trust Co, N Y
J
&
J July 1 1939
5
800.000
No maturity
200.000
Jan 2 *20. 2A% Del Lack A Western,N Y
J
A
750,000
Owned by Del Lack A W
F A A
Aug 1 1911
400.000
$100
97
31
Places
Dividend
Last
Date
Road
first page.)
[VOL. 110.
Control.
Miles
COMPANIES
tFor abbreviations, Ac., see notes on
APrlvate
BONDS
RAILWAY STOCKS AND
Control.
Interest,
Other
Income. Rents, Ac.
Paid.
Sur.
year to
to Int. on bonds and
reserved to
are
V. 93. p.
retire
V. 86, p. 1102, 1161, 1187; V. 87. p. 1600.
321. 1509, 2073.)
1st 5«.
1192—(V. 103.
p.
★ VIRGINIAN RAILWAY.—(See map.)—The main line of the road ex¬
tends from Deepwater, on the Kanawha River, in West Va., to Sewell's
Point on Hampton Roads, near Norfolk, Va., a distance of 441 miles. Wind¬
ing Gulf brapch, Mullins, W. Va., to Pemberton, 24 miles; other lines owned
and leased, 23 m.; trackage, 24 m.; total, 513 m.
In 1918 extensions were
built aggregating 14.63 miles.
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 exceed 0.2 of 1%, or 10 A ft. per mile, except for a
9-mlle 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 ooal cars, or 4,000tons of ooal per train.
STOCK.—Pref. stock Is redeemable as an entirety at any time after
3
from date of Issue by vote of majority In amount of all the outstanding
payment of $105 per share, plus any accumulated dividends.
The shareholders on Jan. 27 1917 authorized an Increase of capital stock
years
stock on
consisting of $40,000,000 common and
V. 104, p. 258, 453.
stock on account of aCcumu-
from $65,000,000 to $75,000,000,
$35,000,000 6%
cum.
pref. stock.
In Feb. 1917 paid dividend of 7% on pref.
tion.
V. 106. p. 2346.
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 $45,500,000 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 lrnpts. of Vir¬
ginia Terminal Ry.at not to exceed 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
in the mtge. V. 94. p. 1058, 1187. 1318, 1385. 1785; V. 95. p. 44, 1270;
V. 98, p. 454, 1539; V. 102, p. 252; V. 105, p. 2186.
Equipment trust 6% Cert, of Apr. 1 1920, V. 110, p. 1291.
Equipment trusts issued to Director-General for rolling stock allocated
See article on page 3.
to this company.
"STANDARD
RETURN," Ac.—See
1920.
Gross
Net
.
$3,521,079
862,307
REPORT.—Report for
Calendar
page
5.
Jan. 1 -Dec. 31
1919.
1919.
1918.
$2,241,868 $12,075,305 $11,903,444
def .72,557
2,900,304
2,628,526
1-Mar. 31
Jan.
EARNINGS.—
end. Dec. 31 1917 was In V. 106, p. 2440:
1917.
1916.
1915.
year
Years—
$8,455,964
$3,800,706
$10,242,473
Operating revenues
Net (after taxes)
$3,972,111
624,966
Miscellaneous income
$8,252,014
$2,521,093
443,057
215,910
4,243.763
1.516,843
247.613
$2,737,003
$1,417,179
234,934
...
-——
"STANDARD
Total Income
$4,597,077
Interest charges
$1,504,961
251,351
1.956,850
,
RETURN," Ac.—See
page
Rents, Ac
5.
Pref. divs. account of accumulations. (7)
★ VICKSBURG SHREVEPORT & PACIFIC RY—Delta, La., on Mis"
sissippl River, via Shreveport, to Texas line, 188 miles.
Of this, 17 miles'
Sbreveport to Texas State Line, is leased to Mo. Kan. A Tex. till July 1925'
Ao.—Of the $3,500,000 general 5s, $1,323,000 are reserved
to take up at maturity the prior Hen 6s which were extended in 1915 to
1940 at 5% and $255,000 in treasury for future needs.
V. 101, p. 774.1629.
DIV8—
f'04. 05. 06. 07. '08. '09lo'12. 13. '14. '15. 16. '17 '18'19
Common ..(3
2
None
2
0
0
0
2% 2A 2A
Preferred
(—59/
yearly— 0
5% yearly
0
5
5
5
5
Paid 2A% on the pref. stock in Aug. and Sept. 1918; April and Sept.
1919, Apr. 1920.
BONDS,
_
Jan. 1 -Mar. 31
LATEST
EARNINGS.—
1920.
Gross
Net—.
....
REPORT.—For year
$1,061,011
265,034
% 1919.
$788,431
117,237
Jan.
1 -Dec.
1919, based on expected U. S. compensation:
Year—
Gross.
Net Inc. Int., Ac. Pf.(5%).
1919__ —$3,323,329x$430,120 $245,021 $107,140
Com. Divs.
(2^)571,413
Surplus.
$6,546
5,241
402,975
2,689,104
457,820
277,909
107,140 (2A) 71,412
2,206,558
747,238
172,852
107.140 (2A) 64,271
1,305,138
633,630
181,362
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.)
1916
A VIRGINIA & CAROLINA SOUTHERN RR.—Owns from Lumberton.
N. O., north to Hope Mills, 27 m.; St. Pauls, N. C., to Elizabethtown,
27.75 m.; Lumberton Jet. to North Lumberton and East Lumberton.
3.86 m.; total, 58.67 m.
Stock at last accounts, $141,000; majority owned
by Atl. Coast Line.
Year ending Dec. 31 1918, gross, $148,422; net,
$54,926; other income, $38; int., taxes, Ac., $46,916; bad., sur., $8,048.
For 1917, gross, $127,059; net, after taxes, $51,124; balance, surplus after
Interest, Ac., $8,107.
Pres., A. W. McLean, Lumberton.—(V. 86, p.1345.)
G.
H. Church, 55 Wall St., N. Y.
DIRECTORS.—William E.
Benjamin, W.
R.
Samuel L. Fuller
Coe,
O. W. Huntington, G. M. Hyams, Adrian H. Larkin, Edwin S. Marston,
Charles E. Mitchell, H. H. Rogers, William H. Truesdale, R. M. Stuart
Wortley.—(V, 110.
p.
972, 1291.)
★ WABASH RAILWAY.—(See Map.)—Embraces lines as follows,
31
$2,689,104
465,747
$883,915
$2,479,306
$1,084,889
1917, 6,403,956, against 5.512,912.
OFFICERS.—Chairman and Pres., C. W. Huntington; V.-Pres., A. H.
Larkln and Chas. H. Hix; Sec., James Clark, 60 Wall St., N. Y.; Treas.,
Owns East of Miss. River.
1918.
1919.
$3,323,329
629,945
Balance, surplus
Coal and coke tonnage, year
.
Adjacent Branches—
Decatur, 111., to E. St. Louis..
109
Streator to Falrbury
31
Juno, near Chicago to Effingham
and Altamont, 111
Ed wards vllle
214
9
Branch
Delrey, near Detroit, to Butler.
Montpelier, O., on line to De¬
troit, to Clarke Jot., near Chlo.
attica to Covington
....
Champaign to Sidney
M&omee to Montpelier, O.
New Haven to Butler, Ind
Owns
110
150
15
12
50
26
West of Miss. River
St. Louis to near Kansas City..
Mo.
Moberly to Ottumwa, la
Centraila to Columbia,
275
22
131
viz.;
Miles.
Miles.
Toledo, O., to East Hannibal,
Camp Point and Elveston, 111 536
St. L. Levee to Ferguson, Mo._
11
15
94
Salisbury to Glasgow, la., Ac.
Des Moines to Chesterfield, la.
Excelsior Spr. to Miiw. Juno..
Brunswick,
Mo.,
to
Council
Bluffs, la. (lnol. 9 m. leased)
Total owned and leased.
9
207
2,043
Trackage, Ac.
Chicago to Clarke Junction
Moberly to Hannibal
East Hannibal to Qulnoy
Short
lines
to
Quincy.
De¬
....
troit.
Ao
Other lines
,,
•_
Buffalo, N. Y., to Detroit
(Grand Tr. Ry.. V. 105.P.1709.)
Total operated Dec. 1919
Also owned, leased to HI. Term.
27
70
16
43
64
243
2,511
7
MAP
CO
J
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Coal to
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1
_
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railway
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E
-
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Waynesburg
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★Government
134
APrivate
RAILWAY STOCKS AND BONDS
Contract.
RAILROAD COMPANIES
Miles
Date
Par
Amount
Rate
When
Last
Dividend
IFor abbreviations, Ac., see notes on first page1
Road
Bonds
Value
Outstanding
%
Payable
and
Maturity
Wabash Railway (Concluded.)
Underlying Securities—
First mortgage gold ($34.000,000)
Ce.ic *
Second mortgage gold
Mp.zc
Deben mtge Income non-cum Series B not red .Ba
Detroit A Chicago Ext let M g s f red 110 —_Ce.sc*
Des Moines Dlv 1st M g$1.800.000](V68.
p574) Nxc*
Toledo A Chicago Dlv mtge g $3,000,000—Col .xo*
Omaha Dlv $3^500,000 gold (V 75. p 686) ~Eq.xc*
1st lien terminal mtge $10,000,000) gold—Ba.xc*Ar
Kan City Exo Sp A Nor M g guar (V 79 p 2697) >z
Columbia & St Louis 8300,000 gold guar p Ai.SSt.x
Equipment bonds sinking fund (V 72. p 822)N.xcAr
Wabash Chester & Western—First mtge gold
zo*
First consolidated mortgage 81,000,000 g— SStxo*
Warren (N J)—Stock 7% perpetual guar D L & W
1.542
1,009
1.542
150
94
225
144
1.000
1899
1901
1901
1.000
50
"9
1901
500
22
1902
1901
"42
1888
65
,'
1893
1,000
1,000
18
1900
1,000
19
1901
1,000
1905
1,000 Ac
1,000
18
First ref mtge
82,000,000 g gu p & 1
F.zc*Ar
Washington & Columbia River—See Northern Pacific
Washington County—See Maine Central RR
Washington & Franklin—1st M 8475,000 g lnt rent—i
Washington Ohio & Western—See Southern Ry
Wash Ter—1st M g gu(82,000.000 4s) (text) .Us.xo* Ar
Wash & Vand—1st M 81.500.000 g gu pALSBa.xo*
Waycross & Western RR—First mortgage notes
Weath Minn Wells & Nor—1st M gu end (text)
NX
West Chester—See Pennsylvania RR
West Jersey 5c Seashore—Com stock——
1907
21
1902
Series B 81.500,000
Gold Series C & D
Gold Series
gold
338
1896
338
338
338
1890
1896
1,000
x
Gold .Series F
1890
1896
xo
West Shore—1st M gu p A i end by N Y C—Un.zeAr
479
West Side Belt RR, Pitts—See Plttsb Terminal RR & Coal
West Virginia Central & Pittsburgh—See Western Ma ryland
West Virginia 5c Pittsburgh—See Baltimore A Ohio
1880
Deficiency judgment in foreclosure affirmed.
V.
109,
p.
2074, 2173;
STOCK.—The pref. shares A and B are respectively pref., prln. and diva,
(non-cumulative) and are callable after 6 years at 110.
The A shares are
entitled, after payment In any year of 5% on all stock (com. and pref.). to
further dividend for that year at the same rate as de¬
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 eo.
The
pref. and common are issuable as needed for conversion of pref. B, and In
Oct. 1919 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. l
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 ol
stock, with adjustment of unpaid dividends.
DIVIDENDS.-4N0. 1 on pref. "A" stock Jan 29 1917. 1 %: April, July
Oct., 1%; 1918. Jan. and April, 1%; none since to May 1920.
Com¬
pare Y. 108, p. 1929; V. 109, p. 2264.
and
BONDS, «&c.—The plan of 1915 left It to the new co., after reorganiza¬
tion. to provide, by a First A Ref, Mtge., or otherwise, for refunding the
underlying bonds at maturity and for future capital requirements.
The $1,500,000 4% Gold Notes were paid off on
May 1 1920.
Abstracts of the mortgages of 1889 were In V.4H. p. 27P-273: Detroit
A Chicago Eztm.
of 1899, see V. 68,
780, 1012: V. 74.
For $10,000,000
V. 81, p. 1437; V,
V. 54, p. 1049.
Des
V. 09. p. 1248.
Col. A
1040; V. 75. p. 086.
terminal gold bonds of 1904. see
82. p. 570; V. 83. p. 1230; V.
mtge.,
p.
574;
p.
Moines Division bonds
St. L. RR., V. 73, p. 338.
.
V. 70. p. 430,753.1032;
84. p. 997.
$13,531,432 $10,568,087 $48,847,085 $48,246,411
1919.
Other income...
Total income
1918.
1917.
1916.
$48,246,411 $40,471,999 $37,721,104
$6,790,909 $10,543,882 $16,671,449
$5,786,352
5,867,268
328,591
263,243
571,877
509,772
$6,114,943
Hire of equipment
Other rents, &e
$214,321
446,097
Interest on funded debt.
Divs. on Pref. A stock.
A
M
&
S Mar 1
J
A
J
7
A & O
3X g F
3,081,653
_
St Louis
Office.
165 B'way,
N Y Trust Oo. N V
May 1 1942
1921
July 1913
July 1 1918
A
&
NY
coup last
do
Aug 1 2000
paid
do
Reading Trust Oo, Phlla
1 1945
A
A
Feb
1 1947
Washington A New York
U S Tr Co, N Y: & Bait
F
A
July 1 1925
A Aug 1 1930
Bankers
A
O
Broad
-J
A
J
A
D Junel 1920
J July 1 1936
J
5 g
5 g
J Jan
A
A
Apr
1 1920 2H
Trust Co,
St
NY
Station,
PhiJa
do
do
do
3%
do
J
July 1 1936
do
do
A
do
do
do
J
A
J July 1 1936
J July 1 1936
J July 1 1936
do
A
do
do
J
4
A
J
J
A
J Jan
J
Grand Central Term, N 7
1 2301
★ WASHINGTON St VANDEMERE.—Washington N. C.. to Vandemere
Pamlico Sound, 42 miles, completed Jan.
1909.
Stock all owned
by the Atlantic Coast Line RR., which guarantees the bonds, principal
on
Bonds are issuable at $18.000 per mile. Including $4.U»)<i for equip,
1249; form of guaranty, V. 85, p. 347.
Loans and bills payable
1918, $275,424.
For year Dec. 31 1918, gross, $5,092; int., taxes,
&c., $46,012; bal., def., $40,920.—(V. 85, p. 2347.)
A
Int.
V. 84, p.
Dec. 31
★ WATERTOWN St SIOUX FALLS RY.—Owns Sioux Falls. S. D., to
Watertown. 106 miles.
Successor of South Dakota Central Ry., foreclosed
June
12 1916.
Capital stock, $1,500,000 authorized.
The contract between the U. 8. RR. Admin, and the Great Northern Ry.
care of any compensation for the use of the properties of the company
takes
in
a
gross amount to the
Calendar
Gross
Years
earnings
$6,130,511 $11,115,669 $12,181,221
$212,848
$1,631,818
$1,534,875
189,504
2.206,935
2,177,302
3,092.874
3,104,872
3,162,546
(1)462,000 (4)1,848,000
(1)462,000
Great Northern Ry.
1915/
—
Net. after taxes.._
.$367,168
83,942
—
1916.
1917.
1918.
1919.
$160,621
$287,961 def.$34,902 def.$l,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—In October 1919 was operating from
Waycross to Cogdell, Ga., 21 miles.
Reorganized in June 1919 (following,
it is understood, foreclosure sale) with $50,000 of auth. capital stock and
$142,000 6% 5-year notes (all sold) secured by Mortgage on the road. The
remainder of the line 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.)
★ WEATHERFORD
MINERAL
Weathcrford via
owns
Mineral
WELLS
$2,372,870
OFFICERS.—Chairman, William
$2,173,285
$2,324,045
$4,844,498
H.
Williams; Pres., J. E. Taussig;
(in charge of traffic), W. C. Maxwell; Y.-P. & Gen. Mgr., S. E.
Cotter; V.-P & Gen. Solicitor, N. S. Brown; V.-P. &
Comp., L. G. Scott;
V.-P., Sec. & Treas., J. C. Otteson; V.-P., H. R.
Winthrop
DIRECTORSv—William H. Williams, J. E. Taussig, Alvin W.
Krech,
VfUyE. Tripp, G. K. Pomroy; J. Horace Harding, George W. Davison,
J. O. Otteson, Robert Goelet, Winslow S.
Pierce, William A. Jamison,
Winthrop, J. Leonard Replogle, New York; John N. Willys, Toledo;
T. E. Wilson, Chicago, 111.—(V.
110, p. 1090, 1283.)
A 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
consol. mtge. coupons due July 1894 paid July 1896; noue
paid since; on
V.-Pres.
A
NORTHWESTERN
RY.—
Weil3 to Graford, Texf, 41 miles.
Stock,
owns $94,689.
Latter guarantees the
Issue), orineioal and interest. bv endorse¬
$100,000. of which Texas A Pacific
bonds
($1,354,000
authorized
ment.
V. 75, p. 908, 1356.
See form, V. 78, p. 344.
Annual compensa¬
tion under Government control fixed at $31,148.
V. 109, pi 478.
Pres.,
C. L. Wallace, New Orleans; Sec., J. Burke, Dallas.—(V. 109, p. 478.)
WELLSVILLE & BUFPALO RR.—Operations suspended Nov. 1 1910.
Pres., Charles A. Finnegan, Depew, N. Y(V. 103, p. 1594.)
A WEST JERSEY &
SEA SHORE RR.—(See Map Pennsylvania RR.)—
aii the lines on the Pennsylvania system in Southern New
Jersey,
Including Camden, opp. Philadelphia, to Atlantic City (59 miles), Camden
to Cape May, 81 miles, Ac., total, 340.66 miles.
V. 62, d. 366, 871. Of this,
owns
to
Atlantio
City, with branch., total about 75 miles, Is equipped
Penn. RR. Jan. 1 1919 owned $6,793,250 stock.
"STANDARD RETURN," &c.—See page 5.
Federal
Compensation,
$952,681
(contract
signed).
The
company
re¬
fused the six months extension of the Govt, guaranty.
STOCK.—The stockholders on Feb. 4 1915 authorized an increase in the
common stock from $10,009,000 to $13,000,000.
On Dec. 31 1918 Penn.
RR. owned $6,747,900 common and $45,350 pref. stock.
DIVIDENDS.—Common. Sept. 1896 to March 1905, incl., 5% yearly)
'20, 5% (A.-O.)
then to '07, Incl., 0% yrly; '08.4%; *09,4H %; TO to Apr. 1
BONDS.—First consol. mtge. is for $7,000,000; $90,000 reserved for prior
V. 62, p. 1179; V. 84, p. 160; V. 89, p. 995; V. 92.
lien bonds when due.
p.
1702; V. 100, p. 57, 311, 473; V. 102.
Jan.
Balance, surplus
do
Office
J Jan 1 1928
July 1894 paid July f'90
15 Apr 15 1920 3X Del Lack & W RR, N Y
A
J
*
N
do
do
1954
Equipment trusts issued to Director-General for rolling stock
See article on page 3.
Pres., Daniel Wiliard
Baltimore; Sec., C. W. Woolford; Treas., E. M. Devereux.—V. 110, p. 972'
620,136
295,915
4,455,348
8.121,802
for calendar year 1919 in V. 110, p. 1283.
Net, after taxes
Compensation accruod—
M
do
1 1928
1 1939
Camden
_
REPORT.—Report
J Jan
Feb
electrically.
,
Gross earnings
1
A
A
Gross
Pf
J Jan
J
A
Equipment trusts issued to Director-General for rolling stock allocated
to„this company.
See article on page 3.
W'
Jan. 1 -Mar. 31
Jan. 1-Dec. 31
i'
EARNINGS.—
1920.
1919.
1919.
1918.
Net
1 1941
A
A Ohio Ry.
any
common
convertible pref.
S Mch 1 1941
0 Oct
J
allocated to this company.
as successor
V. 110, p. 1090.
on
A
A
do
Trust, N Y
New York Trust Co, N Y
Equitable Trust Co, N Y
RR
of Wabash RR. (foreclosed) under First Ref. & Extensions 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.
clared
&
M
do
Co
$1,000,000.
ORGANIZATION.—Incorporated In Indiana Oct. 22 1915
participate In
J
fg
I *
49.994.500
looo a
Entrance to Chicago Is over Ohlc. & West. Indiana, of whose stock this
•ompauy owns
Central Union
11,580,250 5 In 1919
104,000
6
4 g
1,561,000
3 X g
847,000
1,814.000 3X & 4
4 g
679.000
4 g
968,000
50
1.000
1.000
1,000
.xc
J July 1 1941
J Jan 1 1939
i
xo
■„
(8756,000 Series O 3 Yjs)
E
A
4 g
660.000
60
xc*
Mortgage Series A g s f
6% In 19J8.
J
4 g
4 g
378.000
1.000
Special guaranteed stock (includ 819,500 WJ RR).
First Consol
J See text
12,000,000 3X&4g P
720.000
4Yj g F
6
142,000
1919
41
—
»
1,000
A
4 g
1,800.000
1,394,000
1,000 Ac
A
3X g A
300.000
390,000
1904
A
J
l\
3,000,000
3,173.000
3.923.909
100,000
200.000
418,000
Ac
M
F
2,591,000
1,600,000
500
Central Union Trust, N Y
5g
1,248.450
1,000
1,000
1,000
N May 1 1939
A Feb 1 1939
Places Where Interest and
Dividends are Payable
6*
»L,000 $33,900,000
1,000
14.000.000
1889
1889
1889
1891
[Vol. 110.
Control.
EARNINGS.—
Gross
Net
1156.
Jan. 1-Dec. 31
1919.
Ah
$2,323,747
J.
—
p.
1 -Mar. 31
1920.
_def.721,891
1918.
1919.
$2,187,980 $11,970,020 $10,599,543
def.326,310
826,001
493,683
REPORT.—Year end. Dec. 31
Gross.
1918. V. 108, p. 1457. showed:
Total Inc.
Fixed Chgs. Divs.(5%).
Net.
Bal.
1918„$10,599,543
$7,150 x$l,090,191
$579,313
$497,466
~
$13,412
8,555.048
1,040,803
1,140,890
625,308
579,313
2,270
19167,829,320
1,412,184
678,345
1,529,776
482,080
369,350
x Includes $952,682 tentative compensation and
$137,509 other income.
—(V. 109, p. 982; V. 110, p. 972, 1090.)
1917..
......
★ WEST SHORE RR.— (See Maps N.
uawken, N. J., opposite N. Y. City,
479
Between
rniiea.
Utica
and
Y. Central & Hudson River.)—vVeeto BuiTaio, N. Y., with
branches,
Syracuse
Is
equipped electrically.
1st M. bonds the July 1913 coupons were those last paid.
Year coding
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.)
LEASE.—Leased In 1885 for 475 years to the New York
Central
A
Hudson River (now New York Central RR.), with the privilege of a further
term of 500 years, and all earnings, &c.. Included Id that
company's
★ WARREN RR., N. J.—New Hampton Jet. to Dela. Bridge, N. J., 19.9
m.
Leased in perpetuity to Deia. L. A W. at 7% on stock and interest
on bonds.
See form of guaranty
V. 72, p. 628.—-(V. 100. p. 601.)
BONDS.—The bonds cover 479 miles of road and also the terra'nats at
Weehawken.
Abstract of mtge. In V. 42, p. 176.
Advances for additions
and betterments by lessee to Dec. 31 1918,
$16,874,953.—(V. 199, p. 1457.)
WASHINGTON CENTRAL RY.—See Northern Pacific Ry.
$10,000,000 of stock is owned by the New York Central BR.
A WESTERN
★ WASHINGTON & FRANKLIN RY.—Hagorstown. Md.. to Zumbro.
19.11 miles.
Controlled t>y Phlla. A Reading Ry.
Leased to Western
Maryland for int. on bonds and 5% on $150,000 stock; par $50 per share.
In 1917 Reading Co. owned $48,750 of stock.—V.
73, p. 392.)
WASHINGTON POTOMAC & CHESAPEAKE RY.—(V. 100.
report.
The
p.
88.)
(THE)
RY.
OF ALABAM A.—Selma to West Point,
133
m.
Central Trust Co. of N.Y., as trustee under Central Railroad A
Banking
Oo. coll. trust 5s of 1937, and Louisville A Nashville, as trustee for
itself
and Atlantic Coast Line RR.. each own one-half the $3,000,009 stock
The $1,543,000 4^s of 1888 due Oct. 1 1918 were extended to Oct. 1
192$
at 6%.
In March
1920 announced that the Georgia RR., the Atlanta A West
Ry. of Alabama would in future be operated in close
organization rather than independently.
The three properties will be
★ WASHINGTON TERMINAL CO.—Owns union station at Massacausetts
Ave., Washington, D. C., with terminal and approaches; opened Oct. 27
1907.
V. 85, p. 1144.
The Phila. Bait. A Wash. (Penn.RR. system) and
Point and the Western
^
executed in Jan.
1919 fixed annual compensation at
company 1918 basis. $39,809 net.
The company refused the six months' extension of the Govt,
guaranty.
^
own
the outstanding
$4,252,000 stock
(auth.
amount
$5,000,000) and guarantee the bonds, of which $10,000,000 bear 3
int
and
$2,000,000
4%.
V. 80, p. 1973;
V. 76, p. 812, .»
;
V. 77, p
252; V. 80, p. 652, 1176,1364; V. 85, p. 42; V. 89, p. 44.
Fo
of guaranty
V. 84, p. 1368.
Other tenants, Southern RyWash. South. •<
and Cbes
.
directed
Gov't
as
to
operation from Alabama.
contract
$288,237; additional annual income to
DIVS.—/'94-'96./97. '98. '99. '00. '01. '02-'06. '07-T3. 1914 to Dec. '19
y'ly
3
0
2
7
4
4 y'ly
5 y'ly
6%(3%s.a.)
Per cent— \2
RAILROAD
see notes on
Bonds
Road
first pace.]
130
Western (Ala)—1st M g guar by C Ga and Ga RR.zc*
Western Maryland—Capitalization issued or assume dby N
Common stock $59,000,000
First Pref
Date
Miles
COMPANIES
[For abbreviations, &c.,
1888
ew
Par
Amount
Rate
When
Last
Dividend
Value
Outstanding
%
Payable
and
Maturity
$1,000
Co
notes $5,000,000 gold
-—-Ba
Under lying Bond and Equipment Issues—
First mortgage $50,000,000 gold
Ba,xc*&r._
Text
&
j July 1 1967
7 g
M
&
N Nov 1 1920
71
1902
1,000
1,000
4 g
5
A
&
O Oct
Bankers
J
&
J
5
M
&
M
dfe
S To March 1926
S To Sept. 1926
1915
1916
5
46
5
A Feb'21 toFeb'27
D Dec'20toJ'ne'27
5 g
F
&
Merc Tr & Dep Co,
J
As
A Aug
J Jan
1920
5 g
1941
Nat Bank of Com., Bait,
0
J
&
J
&
1929
1929
National Bank of Com.
0
J July
J July
do
do
5 g
5 g
MAN Nov
1930
do
do
M
&
1938
do
do
5 g
A
&
N May
O Oct
J
&
J July 1920
71
6
J
&
J
&
J July 1 1931
J Jan
1 1937
Nat
5 g
4 g
A
&
1,000
1,000
500
1900
1914
100
500
27
1887
600
Un.xc'
..FP.xc*
Western Pacific RR Corp (holding co)—Com stock
Pref stock 6% non-cum. red at 105 conv Into com..
Western Pac RR Co. (oper co) 1st Mcall par_xxc*&r
Equipment gold notes Ser "A" due $300,000 s-a__
1881
576
General mortgage $10,000,000 gold
bonds $10,000,000 gold non-cum
1895
1895
941
1916
1919
uded
Held
$2,546,170; net, after taxes, $558,
MARYLAND RAILWAY.—Embraces:
Baltimore, Md„ to Belington, W. Va., Connellsville, Pa., and
Highfield, Md.....
453.04
Sundry branches (incl. roads merged in Feb 1917, V. 104, p. 74)
162.39
★ WESTERN
615 43
dec., Lines,—Bait. & Cum. Val. Exten., 2634 m.; Wash. &
Ry., 19.1 m.; Somerset Coal Iiy., 4.62 m.; Fairmont
Holens Run Ry., 6.11 m.; Fairmont-Bingamon Ry., &c., 9.33 m.;
total
20.06
Total owned In fee
Leased,
Franklin
26.49
2d and 352.06 m. sidings
707.61
stockholders (including, it Is understood, the
Rockefeller interests) purchased a controlling amount of stock in the Wheel¬
ing & Lake Erie Ry.
See V. 105, p. 1709 ; V. 107, p. 180.
In July 1917
Carl R, Gray, President of Western Maryland, became Chairman of Wheel.
& L. E. Ry.
V. 105, p. 182, 1709; V. 108, p. 270.
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),
and subsidiaries, &c. (V. 104, p. 74, 766, 1047, 1265; V. 105, p. 717.)
This plan was to affect the status of the coal, &c., properties as follows:
(a) The acquisition by the new company of all the system's terminal
properties at Baltimore, Including grain elevator with storage capacity of
1,900,000 bushels, &c.
(fr) 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
Coal & 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
coal cos. In 1917 these coal properties were merged, V. 105. p. 1421, 717.
(c) The lease to the Davis Coal & Coke Co. for 99 years of ail the rail¬
way s coal mining properties and the transfer of the reserve coal lands to the
Monongalia Coal Lands Co., .this measure, with the distribution of their
stock, 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 6cts. per ton on coal mined and was to transport al! the coal.
Davis C. & C. Co. was to operate 31 mines having an annual capacity of
2,500,000 tons, and reporting for fiscal year J915-16 an output of 2.004.000
tons and net profits of $206,000.
V. 103. p. 1791.
Description of New $150,000,000 First and Refunding Mortgage,
Initial $6,500,000 pledged to secure the issue of $5,000,000 7% 3-year
notes which, it is understood, were taken by John D. Rockefeller and allied
interests on account of advances..
V. 105, p. 1619, 1709.
(1) A direct first mtge. upon road .roin Cumberland. Md., to Oonnellsvilie, Pa., together with branches, in all 119.49 rnll&s; (2) a new First Lien
by pledge of all securities representing owner ship of branch lines (V. 103, p.
1611), 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, &c
hereafter constructed or acquired with the new bonds:
(а) Reserved for corporate purposes
$1,000,000
(б) For funding of underlying and divisional bonds.
50.000,000
(c) Under restrictions for terminals and terminal facilities
25,000,000
(d) Under restrictions for new equip., extensions & iraprov'ts. _ 07.600,000
,
S. Commission on June 27 1919 authorized the com¬
& Ref. 5% bonds to be pledged as security to
6% int. to be given the Director-General of
RRs.
V. 109, p. 174.
The 1st M. 4s of 1902 cover some 522 miles of road, subject to, 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 ooal companies
The Maryland P.
pany to issue $2,857,000 First
a note for $2,000,000 bearing
Compare V. 103, p. 1700; V. 75, p. 550, 850; V. 79, p. 1024;
and V. 81, p. 266; V. 80. p. 473, 1914; V. 81, p. 614; V. 83,
p. 066: V. 92. p. 120, 1437; V. 93. p. 1465.
The Lssue of $5,000,000 7% 3-year notes dated Nov. 1 1917 is secured by
$6,500,000 of the new First & Ref. Mtge. bonds. V. 105, p. 1619.
For 5% 10-year serial equip, trust notes of 1917, see V. 103. p. 2239, 2343
mentioned.
V. 79, p. 2692.
273; V. 89,
V. 108, p. 270.
Equipment trusts issued to Director-General for rolling stock allocated
company.
See article on page 3.
"STANDARD RETURN," &c.—See page 5.
A tentative agreement,
effected in Jan. 1920, fixed the annual compensation at $3,300,000.
to this
Gross..
Net...
by Pullma
E.
1 -Mar. 31
1920.
$4,180,650
_def.143,904
1919.
Jan. 1 -Dec. 31
1919.
1918.
$3,253,151 $14,610,409 $15,402,351
def.339,016
18,641 def.124,095
n
Apr
Bait
Merc Tr & Dep Co
1 1924
Bait,
Broadway, NY
City
Bank of Com. Bait.
Phli. & N. Y.
do
do
Treas.
1 1943
1 1943
Fidelity
Tr—when
earn
mailed
Apr 23 '20,1%
Checks
Mar 1
Equitable Trust Co, N Y
1940
do
do
Aug 1'20-Feb'26
Co.
H. Smith of N. Y. City; W. A.
Wilbur, So. Bethlehem, Pa.—(V. 110,
972, 1090, 1416.)
p.
★ WESTERN N. Y. & PENNSYLVANIA RY.—(See
lap Pennsyl¬
RR.)—Owns Buffalo to Emporium, Pa., 118 miles; Buffalo to Oil
City, Pa., 1.37 miles; Oil City to Olean, 110 miles; Stonoboro to Mahoningtown, 37 miles: Hinsdale to Rochester, 98 miles; branches, including pro¬
prietary lines, 93 miles; total owned and operated under contracts, 592 miles;
trackage rights, 68 miles; total, Dec. 31 1918, 660 miles.
vania
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. 311918 $19,439,001 of the $19,972,756 stock
and $9,400,762 of the 5% Income bonds and leases the road for 20 years
from Aug. 1 1903, subject to termination on 60 days' notice.
V. 75, p. 1255.
BONDS.—Abstract of 1st M. in V. 47, p. 109.
-
leading
Jan.
O Apr
V
&c., cr.$11,017; net income, $619,551.
Pres., Atlanta, Ga.—(V. 110, p. 1291.)
m.
10,000.000
Nov 1
5 g
9,605,000
100 H 47,500000
100 127.500000 434 «n'19
Q—J
100 &c
M &
S
19.885.500
F
&
A
1,000
3,600,000
1,000
x
Trackage Rockwood Jet. to Coal Jet., Bowest June, to Chiefton, &c_„
5&7
1,000
1,000
1,000
140; other inc., $50,393; charges,
EARNINGS—
See
50
Income
p.
&c
1,000
1,000
-
First mortgage Interest rental
Baz
Western N Y & Perm—1st M ($10,000,000) g.Ba.xo*
1917
do
&
&
1886
May
Y
Bank
F
1888
In
N
Co.
Firsl National
do
J
15
Total (with also 79.25
Trust
*26 71 Broadway. N Y City
4.52
66
gold.MeBa.z—-guar—MeBa.z_.o*
1st M $150,000 g(V 87 p 482)MeBa.c*
of Leased Lines—
gross,
July'20-Jan
Broadway, N Y City
4.52
Bait & Harrlsburg By W Ext g
Dec. 31 1919,
I 1952
1917
Bait & Curnb Val RR 1st ratge_„
Bait & Harrlsburg By mortgage
For year ending
New York
1917
1891
C. A. Wickersham,
New
J
1879
1879
Int. incl
Q—j
5 g
3
Amounts paid semi-ann. represent prin. &
Guaranty Trust Co, N Y
1 1928
1,000 &c
1,000
31
a
O Oct
&
Dividends are Payable.
1917
1917
Coal & Iron By 1st M g assu (V 71, p 1166» -MeBaz
Potomac Val 1st M $2,000,000 g assum .MeBa.zc* &r
Bait & Cucnb Val By 1st mtge
...
A
100
100
1916
Eq tr "B" due 10 $23,000 s.-a. then $22,000---Eq
a Equip obligations due $111,313 s-a
a do
do
due $58,865 s-a
—
a do
do
due $168,324 yearly s-a
a do
do
due $54,992 s-a.
($270,000 7%)
6 g
Where Interest and
Places
100
616
Three-year
Bait & Cum Val BB Ext stk gu
$1,543,000
135
Rai Iway
(p So d) stock 7% cum $18,000,000 auth.
2d Pref (p & d) stock 4% non-cum $10,000,000
lst&Ref M. $150,000,000 Ser A (see text).Eqc*&r*
Haz. Wh'f Co
Securities
APnv&te
Control.
RAILWAY STOCKS AND BONDS
May, 1920.) W
Report for cal. year 1918: Income from lease of road, x$l,156,105;
Income, $42,120; gross, $1,198,226; total deductions, $2,131,214;
bal., def., $932,988.
V. 109, p. 1789.
other
REPORT.—Report for 1918 was In V. 109. p. 1789.
Net after
Other
Interest,
Ada'ns
Balance,
Taxes.
Income. Rents. &c. & Belts.
Deficit.
1917
$14,710,397
$701,688 $37,934 $2,739,301
$1,999,679
1916
13.682,410 2,583.677
41,173
2,543,968 $749,395
668,513
x Being compensation accrued under contract between the Government
and the Pennsylvania RR.'s eastern lines under Federal control.
V. 106,
p. 1462; V. 107,p. 175. 403, 698; V. 109, p. 1610, 1789.)
ANNUAL
Calendar
Years.
Cross
Earnings.
PACIFIC RR. CORPORATION.—A Delaware holding
owning all the stock of the Western Pacific RR. (of Oal.), which
the railroad running from San Francisco to Salt Lake City,
via Oakland, Stockton, Sacramento, Marysvllle and Orovlile, Cal., a dis¬
tance of 930 miles (including San Francisco Bay ferry, 3 miles); Carbona to
Waldron, 11 m.; B. fx L. Jet. to Loyalton, 16 in.; Grants to Tooele. 15 m.;
spurs, 9 m.; Reno to Reno Jet., 33 miles.
Total mileage Dec. 31 1918
10l4miles. 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
Turlock (see "Electric Railway Section.")
A WESTERN
company
in turn
owns
the holding company (The Western Pacific
Incorp. in Delaware;, and the operating company (The Western
In June 1910 per reorgani¬
ORGANIZATION.—Both
RR. Corp.,
Pacific RR., Co Incorp. in Calif)., were formed
zation plan of Western Pacific Ry. foreclosed.
List
Possession taken July 13
V. 103, p. 62. 240,
102. p. 155. 160. 2168. 2255;
104, p. 165, 258, 560.
V. 103, p. 2080.
See plan. <fcc., V.
1916.
408: V.
j
,
of securities
owned
Dec.
31
1917, see annual report and V.
_
106,
1892,1797.
p.
In 1917 the Equitable Tr. Co. of N. Y., as mortgage trustee, brought suit
against Denver & Rio Grande RR.. as guarantor of (/he 1st M. bonds of the
(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. 6.
V. 106, p. 85, 192. 498; V. 107, p. 503.
See Denver
old
& Rio Grande RR.
In
Sept. 1918, having realized to date about
$7,771,395 on this judgment
of old Western Pacific Ry.,
the Trustee made distribution of $150 per bond
90% of these bonds being owned in the interest of the new Western
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.
over
V. 106, p.2648,2759.
FEDERAL COMPENSATION.—In
TM&19 the U. S. RR. Adminis¬
tration offered the company as rental during Government control an annu¬
al compensation of only $1,986,580 (net), notwithstanding the recent ex¬
pansion in earnings show below, out of which sum would have to
line.
List of securities owned, see annual report and V. 106, p. 1892,
interest and other obligatory charges to a total of $1,300,000.
This
and
a
subsequent offer
come
1797,,.
offer,
of $2,322,000 were not accepted.
V. 108, p. 1074
the six months extension of the Govt, guaranty.
2023.
The co. refused
STOCK.—The two new
ttave precisely similar capital
and Issued, the holding company owning
corporations
stocks, common and pref., auth.
shares of the operating company.
tible by holders, $ for $. into common.
all the outstanding
The pref. is conver¬
REPORT.—Report for year end. Dec. 31 1917 in V. 106, p. 2442.
Calendar Years—
1917.
1916.
1915Miles operated
747
703
663
Gross earnings
$13,638,450 $11,967,982
$9,888,600
Net, after taxes
$3,552,499
$4,045,674
$2,913,384
Income from coal companies
51,028
123,572
206,514
Int. on advances to subsidiary cos
118.671
103,215
83.395
DIVIDENDS.—In Feb. 1918 the directors of the holding corporation
declared a dividend of 6% on the $27,500.000i outstanding 6% non-cumu¬
lative pref. stock, payable in installments of 1)4% 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, 134 %.
May 15 1919 paid only 1 %, at same time protesting against
Gross corporate income
Interest on bonds
April 23 1920, 1% quar. V. 108, p. 2023.
/
Pacific Railroad Co. of California (the operating company)
on Dec. 28 1917 of an initial dividend 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.
Other interest, amortization, &c
Hire of equipment
$3,722,198
$2,310,238
414,408
Cr.643.734
$4,272,462
$2,409,299
516,392
Dr.27.711
$3,203,293
$2,665,153
505.435
Dr. 140.213
sur.Sl,641,285sr$l,3l9,060 def$107.507
Chairman, Lawrence Greer; Pres. & Gen. Mgr., M. C. Byers; V.-P.,
Balance
Federal
treatment making the
reduction in rate necessary.
July 1 1919
to
The Western
traffic dept., D. G. Gay; Sec. & Treas., L. F. Tixnmerman.
DIRECTORS.—J. K. Bartlett of Bait.; F. T. Gates.
Montclair, N. J.
Bertram
W. Krech and
BONDS OF NEW OPERATING
John N. Willys, Toledo, O.; Edw. D. Adams, Henry E. Cooper,
Cutler, Lawrence Greer (V.-P.), Edgar L.Mars ton, Alvin
on
the
existing railway
COMPANY —Secured by a first mtge
properties and ail property hereafter
.
acquired-
★Government
-
RAILROAD
APrivate
RAILWAY STOCKS AND BONDS
Control.
Last
Miles
first page]
Date
Par
Amount
Rate
When
Road
COMPANIES
[For abbreviations, Ae„ see notes on
[Vol. 110.
Control.
Bonds
Value
Outstanding
%
Payable
Places
Dividend
Where Interest and
Dividends
and Maturity
are
Payable
i'Wheeling and Lake Erie Ry—
Prior Lien 7% stock cum convert redeem
Pref stock (a A d) 6% non-cum convert redeem
Common stock (further amounts for conversion)
1917
1917
650
300,000
562,250
1,000
3.234,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
110
1900
£l&?Ac
1901
$11,697,000
Ba.xc*
at Canton) V 104 p 665
Equip notes receivers due $101,000 semi-ann, call.x
Wheeling Term—1st M $2,000,000 g s f gu p & I.xc*
White Sc. Black River Valley—1st M g int guar—F.xc-
£100
10
White Pass A Yukon—Stock £1,700,000————
"A" shares £10,000, pref rights to 80% profits
Prior Lien debenture stock £100,000
deb stock £794,802 red after 1920 Mortgage debentures (navigation) £273,440 red 105Securea notes 6 % £70,000
income debentures 6% £168,430 red
—
White River RR—1st M $260,000 auth gold
AB
Wichita Falls & Northw—1st M g red lOp-FC.xc&r
Pan Handle Dlv first coll Hen tr M gold s f-.FC.xc
First A Ref M $10,000,000 gold red 105-Usm.xo*
Actually outstanding Sept. 9 1918, $45,598,425 c
1903
20
154
57
378
om.an
1909
1910
1911
d
$26,
& Int. on any Int. date. Trustees, First Federa.
and Henry E. Cooper.
Total auth. issue, $50,000,
than $21,600 per mile) was sold
rolling Btock, extensions. Ac.
V. 104, p. 1593; V. 103.
2157, 2080.
The remaining $30,000,000 1st M. bonds are reserved
int. rate not to exceed 6%, for or against betterments,
for future use, with
add'ns and extens.,
$1,000 In bonds for $1,000 of money actually
Invested In additional physical property, subject to the new mortgage.
under safeguards, at not over
In the hands
$11,525,736 of the proceeds of the $20,000,000 1st
GENERAL FINANCES.—On Dec. 31 1918 there remained
of the mortgage trustee
Mtge. bonds available for extensions, additions, Ac.
V. 106, p. 1892.
In 1918 $4,941,619 was added to road and equipment account, includng
1,900 steel under frame cars and rebuilding purchases of branch lines, &c.
V. 109, p. 1074.
"STANDARD
RETURN," &c.—See page 5.
Jan.
Gross
Net
1-Mar. 31
1919.
1920
EARNINGS.—
-
-Jan. 1 -Dec. 31
1919.
1918.
REPORT.—Of operating company for cal. year 1918
1918.
Calendar Years—
in V. 109, p. 1074.
1917.
1916.
$11,078,410
7,893,879
602,735
$9,898,483
6,190,055
492,493
$8,270,262
4,950,622
377,051
Operating income
$2,581,796
Tentative Fed. compensation (stand.
$3,215,936
$2,942,589
$385,740
$53,644
354,877
142,043
384,300
57,929
144,758
39,398
$2,397,270
$4,043,905
$550,422
90,431
858,447
68,343
$3,181,389
$386,684
90,135
246,813
17,684
Operating revenues
Operating expenses
Taxes, &c
1,900,350
return)
equipment.
Hire of
Income from
unfunded securities
Other income
Total
income...-
Hire of equipment
Rentals
Interest
on
bonds-,
...
Amortization of discounts, Ac
52,391
1,036,684
74,644
J Jan
A
O Apr
A
A
O Oct
1 1926
J
A
A
A Feb
376,036
Miscellaneous
115,234
*
32,993
1,650,000
159
$742,281
$793,269
$2,439,914
1
ag
F
*
surplus
$
Rhoades, F. W. M. Cutcheon, R. W. Martin, R. B. Young, A. M. Hunt,
A. C. Smith, all of New York; David R. Forgan, Chicago; Geo. Whit tell,
Officers of Operating Company.—Pres., Chas. M. Levy; V.-P., A. R.
Baldwin; Treas., Lyman Rhoades; Sec. & Treas., Charles Elsey.—(V. 110,
p. 1090, 1643, 1974.)
★ WHEELINQ AND LAKE ERIE RAILWAY.—512 miles of road, viz.;
Miles. I
Miles.
2101 Various branches
owned
SO
1441 Trackage (C. O. O. & St. L.) Lln451
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 their large holding
of prior lien stock said to aggregate $11,450,000, carrying control for five
years or more, to leading stockholders In the Western Maryland, supposed
to Include the Rockefellers, with a view to through traffic.
Coal mines
served.
V. 107, p. 285.
In July 1917 Carl R. Gray, President of Western
Maryland Ry., became Chairman of W. & L. E. Ry. in March 1918; he re-
signedjbut was again elected Chairman In Jan. 1919. V. 105, p. 182; V. 104,
^"STANDARD* RETURN," Ac.—See page 5.
STOCK.—Issued: Prior lien, $11,882,600: com.. $33,641,300; pref.,
$10,344,958.
Owned by company: Common, $134,991; pref., $134,991;
leaving In hands of public amounts shown in balance sheet.
1.
Prior Lien 7% Stock, entitled to (a) cumulative dlvs. from Nov. 1 1916»
Eayable quar.; and to priority ov£r all other stock both or after Nov. 1
liquidation, (6) also, so far as legal, redeemable on as to divs. and
i
1919 at $115 per share and
1919 into
com.
divs.; (c) convertible at any time after Nov. 1
stock, $ for $, with an adjustment of divs.; (d) To elect
for first five years a majority of the directors, and thereafter a majority
of the board, in case of failure to pay the full dlv. on the Prior Lien stock
for five consecutive years; otherwise the three classes of stock shall have
2.
3.
proportionately equal voting rights. Now Issued under plan $11,882,600
Preferred 6% Stock, entitled to non-cum. dlvs. from Nov. 1 1910.
Pref.
over the com. stock both sis to dlvs. and in liquidation, and, so far as
legal, redeemable on or after Nov. 1 1919 at $105, and convertible at any
time after Nov. 1 1919 Into com. stock, $ for $.
Total presently Issuable
(with further amounts solely to replace Prior Lien stock)—$10,344,958
Common Stock, presently Issued for purposes of plan
BONDS.—New Refunding Mtge.
$33,641,300
V. 104, p. 864, 1900; Y. 103, p. 1211.
Purposes for Which the $50,000,000 Refunding Bonds Were Made Issuable.
(а) Now issued in exchange for such 1st Consol. 4% bonds as
assent to plan: Gold, 4Hs. callable on any Int. date at 102H--S4.797.000
(б) 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:
(tto) To pay or refund the Lake Erie Div. bonds, the Wheeling
Dlv. bonds and the Extensions A Improvements bonds——
3,303,000
do
do
Bankers Trust Co, N Y
Guardian S A T Co. Olav
1 1930
MAS Sept 1 *20 to *23 City Sav A Tr Co, Cleve
i g
5 g
F
A
J
A
Winslow,Lanier AC©,N Y
First National Bank, N Y
A Aug 1 1940
J June 30 1980
Jan 15 1913 1% Office 7 Moorgate St.Lon
5
6
J
A
J Dec
1 1935
31 1930
See text
J
A
J Jan
1 1930
See text
Dec
Dec 1
6
Redeemable
J
f g
5 g
5 g
A
J Jan
A
J
A
J Jan
J Jan
1 1939
1 1925
J
A
0 Jan
O D Parker A Co, Boston
1 1933
J
1 1940
Jan 1918 int last
i
paid
July 1917 int. last paid
paid
Jan 1917 coup last
(6i>) 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
(ec) Under restrictions for betterments, extensions and new
properties, and to aid in refunding the above-mentioned
bonds, and to retire equip, oblig'ns of receiver or of old co_— 35,000,000
Of the Refunding mtge. 4Y%s of 1916 there had been issued to Aug. 31
1919, $10,720,000; owned by company, $5,923,000; balance in hands of pub¬
lic, $4,797,000. Of the $5,923,000 (Series "B" 5%) owned by the company,
$5,017,000 on Sept. 1 1919 were pledged to secure short-term loans as fol¬
lows: (a) $1,550,000 to secure $1,000,000 7% note given to the Guardian
Sav. & Trust Co., Cleveland, Dec. 26 1918, int. quar.; (b) $1,250,000 to
secure $800,000 7% note to Citizens Sav. & Trust Co., Cleveland, Dec. 30
1918; (c) $156,000 to secure $100,000 7% note to Union Commerce National
Bank, Cleveland, Dec. 26 1918; id) $469,000 to secure $300,000 7% note to
Guardian Sav; A Trust Co., Cleveland, Dec. 26 1918 (the above four notes
all being renewed from time to time, present maturity being in Dec. 1919);
(e) $108,000 i
.
.
~
...
Dec. 30 1918;
of Railroads,
Director-General of Railroads, Aug. 25 1919.
In April 1919 the P. U. Com¬
mission granted authority to Issue $958,000 Refunding Mtge. 5% Series
"B" bonds.
V. 106, p. 1061.
V. 108, p. 1938.
Equipment trusts of 1917, V. 104, p. 1047; of 1902, see V. 103, p. 2429.
The $60,000 receiver's certificates are payable only out of earnings of an
industrial spur at Canton, O.
The $300,000 non-transferable certificates of
participation are payable out of the earnings of the Lorain A West Virginia
Ry. Co.
All of the outstanding securities of the L. A W. Va. Ry., vix.:
$1,999,300 stock and $2,000,000 1st M. bonds, of 1913 are owned, the stock
.
being pledged under Ref. Mtge. of 1916, and the bonds as security for the
V. 104, p. 605.
$1,200,000 5H% 6-year gold notes, dated Jan. 1 1917.
Jan. 1-Mar. 31
Jan. 1 -Dec. 31
1920.
1919.
1919.
1918.
$3,208,206
$2,084,452 $12,600,839 $13,592,172
Net
205,174 def.292,001
1,731,301
2,326,320
Equipment trusts issued to Director-General for roiling stock allocated
to this company.
See article on page 3.
RESULTS.—For 1918, based on Federal compensation, were as follows:
Standard return, $1,586,037: net, after taxes, $1,529,110; other income,
$139,460; Interest, $1,169,958; rents and other deductions, $198,326; bal.,
sur„ $300,286.
I
EARNINGS.—
Gross
Gross
earnings
(after taxes)
-
107, p. 285;
$11,028,9041 Int. on funded debt
$1,005,590
$3,038,277 Other interest
—
85,100
$177,6531 Rentals, Ac
1,011,345
$1,113,895
Balance, surplus for year
-Years ending June 30-
-Years ending Dec. 311917.
1916.
1915.
$3,361,086
$2,600,243
6,077,163
630.606
Coal freight—
General freight-
5,919,959
668,642
Passengers
$684,550
3,700,870
553,630
1914.
$2,690,441
3,854,458
621,034
960.050
814,764
489,019
492.491
Total oper. revenue—$11,028,905
$10,003,608
$3,191,872
$5,428,069
$1,388,329
$7,658,424
$2,361,764
Miscellaneous
San Francisco.
Canton to Sherrodsvllle
Go""
5
(See divs. above.)
Toledo, O., to Terminal Juno
Cleveland to Zanesville, O
Tr
Bankers Trust Co, N Y
Central Un. Trust N Y
July 1 1928
MAS Sept 1 1949
A
J Jan 1 1926
7
£582.870
£273,385
£14,000
£168,430
$200,000
2,098,000
838,000
Net
Directors of Western Pacific RR. Corp. (the holding company).—Chairman,
Alvin W. Iirech, C. Ledyard Blair, F. H. Ecker, Starr J. Murphy. Lyman
Lines owned—
J
J
Other income
Balance,
YVUSMtg- A
1921 to *27
EARNINGS.—For calendar year 1917. in V.
Expenses prior to Jan. 1 1918
Preferred dividends (6%)-_-•
A
A
.
$2,361,115 $13,657,296 $11,065,962
82,246
4,112,011
3,174,344
$3,335,451
806,808
6.900,000
1,000
1,000
1,000
See text
1,000
224,262 pref. stock.
Sinking fund Beginning in 1919, $50,000 annually.
p.
N
1 1923
J
5
£1
Present Issue callable at par
000. of wblcb $20,000,000 (representing less
In
1910, largely for improvements, new
Jan 1 1927
4
60,000
605,000
1,497,000
600,000
£10 £1,275.000
1918
Cons first mtge
Trust Co., San Fran.,
New York
MAS Sept 1 1966
A
J Jan 1 1923
mJ
2,000,000
894,000
409,000
62
1880
1888
1889
1899
1910
1913
1900
1900
187
50
260
451
g__Ce.zc*
Imp t mtge ($1,900,000) gold—Ce.zc*
First Consol mortgage gold
Rec ctfs (lien on Indus spur
4,797.000
1,200,000
1,000
1910
1917
callable 102HCe.yc^Ar*
CCI
Lor A W Va Ry)
CCI
Secured skfdequip notes $843.700 call at par, —Us
Equip trust ctfs Ser B due$462,000 yly call 102 H. c*
Left Undisturbed, (Issues closed by Ref M of 1910)
First mortgage Lake Erie Division gold
Ba.zc*
Ex ten and
10,209.967
33.506,309
100
100
Ref mtge $50,000,000 gold
Six-year gold notes
Certlfs of participation (In
First M Wheel** Dlv $ A £ (2d on 187 m)
Quar
$100 $11,882,600
Net, before taxes
.
$3,650,692
OFFICERS.—Chairman, Carl
R.
Gray; Pres., W. M. Duncan; Sec. &
Treas., C. E. Bahl, Cleveland.
DIRECTORS.—Term expiring Oct. 1920: H. E. Cooper, New
Thomas S. Grasselll, E. A. Langenbach, E. A. Petrequin, Frank A.
York;
Seiber-
ling.
Term expiring Oct. 1922: W, M. Duncan, John N. Willys, Carl R.
Gray, Frederick H. Ecker, N, S. Meldrum.
Term expiring Oct. 1921;
Warren Bicknell, Bertram Cutler, J. A. House, Walter S, Bowler, L, F.
Loree.—(V. 110, p. 972.)
★ WHEELING TERMINAL RY.—Owns a railway bridge at Wheeling,
Va., and 10 miles of terminal track.
STOCK.—$2,000,000,
all
owned by Pennsylvania Company, which guarantees prin. and Int. of bonds
of which $400,000 are reserved for add'ns and imorov'ts;
mtge. trustees
Commercial Tr.
Co. of Phila.
V. 98, p. 612, 1769.
Form of guaranty.
V. 76, p. 655.
Divs. 2% paid in 1906, 1907, 1911, 1912 and 1913.
1916
W.
For the year 1918, Government compensation,
$113,151; income from investments, rentals, Ac., $4,420; interest, rentals,
Ac., $62,200; war taxes, $6,139; bal., sur., $49,232.
Sec., S. H. Church.
—(V. 98, p. 612, 1769.)
2%: 1917, 3%; 1918, nil.
A WHITE
A BLACK RIVER VALLEY RR—Brinkley to Jacksonport.
Ark., 56 miles; Wiville, Ark., to Gregory, 6 m.; total, 62 miles.
Leased for
80 years from July 1 1900 to Choctaw Oklahoma A Gulf RR. (now Chic.
R. 1. A Pac. Ry.) for guaranty of int., endorsed on bonds.
Stock auth.,
$1,875,000; paid In, $323,000.—(V. 90. p. 504.)
A WHITE PASS & YUKON RY—Owns & narrow-gauge line 110 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
and Atlin.
V. 73. p. 443; V. 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
to pay
off loans, and £5,000 for commissions, Ac.), it was arranged under
7% Prior Lien debenture stock.
1918, total income, £53,982. charges. £65,931.
net. deficit, £11,947, against £26,182 for
1 Si 6-17.
Pres. of local (subsidiary) cos.. F. O. Elliott. Ill W. Washington 8q..
Chicago.—(V. 104, p. 363; V. 105. p. 291; V. 107, p. 503, 605, 2099. 2478.)
the plan to issue £100,000
For year ending June 30
WHITE RIVER RR.—Owns Rochester to Bethel, Vt., 20 miles.
Has
(co-operative) contract with the U. 8. RR. Administration. 1
short line
$250,000; par, $100.
Bonds ($250,000 auth issue), see table
Year ended Dec. 31 1918, gross, $64,712; net. $19,686; Int. on
bonds, $12,500; taxes, rentals, Ac., $13,103; bal., def.,
7,197.
Pres.,
Chauncey D. Parker, Boston, Mass.
Office, Rochester Vt.
Stock,
above.
see
notes on first pageI
Wichita Falls A So—1st M $780,000 e gu s f _-.FC.xo*
Wichita Northwestern RR—1st M g call——___
wich l)n Term Ry—1st Mggu red 108 H oeg '21-Ce*
Wlldwood & Delaware Bay Short Line RR—1st M.
Wilkes-Barre & Scranton—Stock 5% rental-- — -First mortgage gold guar pAibyLOAN Co—xxx
Williams Valley—First mtge $120,000 auth —
ky
Wiliiamsport & Nor Br—First M $750.000fe-PP.xo*
Wilmington Columbia & Augusta—See Atlantic Coast
Willmar & Sioux Falls—See Great Northern
Wilmington & Northern—1st M call 1907 int gu __.xr
Gen mtge $1,000,000 gold p & 1 guar (end) — PePjcr
Debenture bond
——— — —
—
Wilmington & Weldon—See Atlantic Coast Line RR
Wilmington Ry Bridge—M guar jointly-----—SBa
Winona Bridge—1st M ext I935gold s f red at par-Ff
Winston-SalemSouthbound—1st M g gu—Us.xo* Ar*
Winston-Salem Union Station Co^lstM gcall.c*
Wisconsin Cent Ry—
Common stock $17,500,000—
Pref stk 4% n-c$12.500,000 autb
—
———
—
—
Par
52
1908
80
1916
9-11
1911
4.2
1910
4.27
4.27
11
46
Line
90
90
Amount
Value
Date
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations,
Outstanding
1888
1903
1901
RR.
1,000
500
1,000
1887
1892
Usoco*
105.Usx
Sup A Dul Dlv A Term M $7,500,000 g (text) Us.xo*
First and Ret M g ($60,000,000au) int gu Em.xo* &r
Car trusts various dates———
—
—-
2.4
1.03
89
600
1916
1,000
Co, Phila
D Deo
A
5 g
Quar
J
5
11927
5
A
M
A
J
A
A
do
do
Owned by
A
Sg
i *
5g
Reading Terminal, Phila
Aug 11932
A
&
O
Apr
Sept
July
O Apr
Reading Company
1 1943
11935
1 1960
11966
Safe Dep A Tr Co, Bait
547 W Jackson Blvd. Chi
United States Tr Co, N "V
In 1919 See text Apr 1 1920
J
A
J July 1 1949
4g
MAN May 1 1951
4g
MAN May 11936
NY.OhaseNatB.orWin-S
2%
a
J July 1 1932
New York
r
a
j Jan
11958
Tennille, Ga
78
1906
1.000
3.000.000
5 g
a
j Jan
1 1936
July'19couppd in Dec '19
A Texas, par $100
Topeka RR.
Capital stock, common, $860,000, and
preferred, $830,000.
Bonds callable for first 5 years at 105; thereafter
103.
In Dec. 1919 applied to the Kansas P. U. Commission for permission
to issue $7,500,000 in securities for the purchase of railroad property and
for railroad construction.
(Compare V. 109, p. 2173.)
In 1918, gross,
$99,584; net, $19,753; deficit, after taxes ($8,814), interest, Ac., $7,525.
Pres., O. P. Byers; Sec., T. A. Fry.
V. 110, p. 168.
RY.—Owns railway term, at Wich¬
ita, Kan., Including a passenger station with elevated track approaches o*
about 2 miles, Including a 4-track main line, to be used by the Atchison
Chlo. R. I. A Pao., St. Louis A San Francisco and Kan. City Mex. A Orient
These 4 roads own the stock and guarantee Jointly and
severally the $2,
Pres.. F. C. Fox.
DELAWARE BAY SHORT LINE RR.—Owns Rio
Grande, N. J., connecting with Atlantic City RR. to Wild wood, 4 miles.
Stock, $500,000; issued $376,000; par, $50.
Bonds auth., $562,600 1st
gold 5s; Issued to Ocfc.i 1918, $479,000.
Broadway Trust Co., Camden,
N. J., trustee; see table above.
Pres., Hon. J. T. Baker; Treas., W. F.
Short; Sec., O. I. Blackwell.
Office, Wlldwood, N. J.
&
★ WILKES-BARRE & SCRANTON RY.—(See Map Reading System.)—
Owns from Scranton to Mlnooka Jot., Pa., 4.27 m.,of
which 1.38 miles
double traok.
Leased from May 1 1888 to Lehigh Coal A Nav. Co. twhlob
holds all the stock) during corporate existence, less one year, at $47,500
N. J. at 6%
on cost of
★WILLIAM'S VALLEY RR.—Williams Valley Jet. to Lykens, Pa., 11.04
Stock authorized. $120,000; outstanding, $89,900; par of shares,
In April 1907 the Reading Co. obtained control.
V. 84. p. 933.
For
year 1918, gross, $43,071; net
deficit, $15,484; taxes, $692; balance, dedeficit, $14.792.—(V. 84. p. 933.)
miles.
$50.
BRANCH
J
r
A
NO.
5
A
Deo 31
5g
WICHITA NORTHWESTERN RR.—A reorganization of the Anthony
A Northern RR.
Road completed in 1917 from Trousdale, Kan., to
Vaughn, 47 miles, and Pratt via Trousdale to Kinsley, 53 miles.
Compare
&
4M
Win A Read A Co, N Y
D June 11940
Atlantic City RR.
Deo 311919 5% 437
Chestnut
St, Phil
MAN May 11938
do
do
J
A
D Deo 11923
Tower City (Pa) Nat Bk
J
A
July 11931
Fidelity Trust
J
%e
v*
5g
★ WICHITA FALLS & SO.—See Wich. F. A N. W. above.—V.102.P.2344
A WILLIAMSPORT
Jan 1919 paid June '19
Com'ce Tr Co, K O, Mo
200,000
BONDS, Ac.—1st 5s of 1909, V. 88, p. 1439.
Pa ' ndle Dlv. coll*10, V. 90, p. 700.
Wich. F. & So. bonds ($729,000 outstanding)
guar. p. & 1. by Wich. Falls Ry. and W. F. & N. W.
V. 88, p. 687. 884,946
Of the 1st A Refunding gold 5s ($10,000,000 auth. issue), $3,601,000
was Issued on Dec. 311918, of which $519,000 Is owned by the M. K. A T.
Ry., $82,000 pledged with M. K. & T. Ry. for advances made.
V. 93,
p. 873.
As to interest payments and committees for Wichita Falls A Southern
and Wichita Falls & N. W. 5s. see Missouri Kansas & Texas Ry.
per annum and taxes.
Lease assigned to Central of
road ($1,141,676) and taxes.
1938
1.000
tr. 5s of
gold bonds, V. 101, p. 1629.
1
1907
_
WILDWOOD
Jan
M &
N Nov 1 1931
Man NOV 1 1941
104
V. 98, p. 999.
Early in 1920 the Wichita Falls & Southern Ry. was ac¬
quired by the Wichita Falls, Ranger & Ft. Worth RR., a newly-organized
company.
V. 110, p. 1850.
In June 1917 O. E. Schaff, receiver of the Missouri Kansas & Texas Ry..
was appointed receiver, the company not having been able, under independ¬
ent operation, to earn fixed charges.
The receivership does not include the
subsidiary Wichita Falls Ry. nor the allied Wichita Falls & Southern.
V. 104, p. 2344, 2453.
"Standard return," Ac.—See page 5.
300,000 30-year 4K%
—(V. 101, p. 1629.)
&
Places Where Interest and
Dividends are Payable
1,000
& N. W. Ry.
Wichita Falls Ss Southern Ry.. controlled by the Missouri
Kansas & Texas owns from Wichita Falls to Newcastle, 52 m.
The Mo.
Kan. & Texas Ry. of Texas leased the system for 99 years.
V. 96, p. 790;
TERMINAL
J
Maturity
1907
Wellington, Tex., 57 m.
Th4s Includes the Wichita Falls Ry., Henrietta,
Tex., to Wichita Falls, 18 miles, all of whose securities are owned by W. F.
UNION
and
1,000
1,000
1,000
$ A £
★ WICHITA FALLS & NORTHWESTERN RY.—Company owns from
Henrietta, Tex., to Forgan, Okla., 321 miles, and from Altus, Okla., to
★ WICHITA
Last Dividend
1899
1901
1906
1909
11-'1
33
160
—
STOCK.—$2,000,000, all owned by the Mo. Kan.
217,000
28S.000
5,000,000
250,000
16,121,000
11.265,600
1,000
1,000 Ao
1,000
100
When
5 g
137
Control.
Payable
5 g
354,000
462,000
61,500
100
Wise Minn & Pacific—See Chic Great West Ry
Wisconsin & Northern—1st M $10,000,000 g— -Us.o*
Worcester Nashua & Rochester—See Boston & Maine
Wrlghtsv & Tennille—1st M s f g red 102 H beg '12 zo*
Yosemite Short Line Ry—See Sierra Ry of California
Yesemite Valley—First mtge $3,000,000 gold s f.xo*
1893
1890
1910
Rate
%
$729,000
250,000
2,800,000
479,000
500,000
600,000
120,000
645,000
$1,000
500 Ac
1,000
550 & c
50
—- —
First General mortgage
Marsh & S E Dlv 1st M gold sub] to call at
Leavenworth
APrlvate
RAILWAY STOCKS AND BONDS
MAY, 1920.J *gg™
RR.—Hall's to Satterfleld. Pa.
and branoh. 46 miles; leases Eagle's Mere RR.. 10 miles; total. 50 miles.
Has short line (oo-operative) contract with U. S. RR. Administration.
Stoek (authorized, $2,000,000), common, $923,950; preferred, $400,000
22.972 XXX)
347,000
7.500,000
5,816,000
790,811
fg
4 g
A
4H.5
See text
New York
Bank of Montreal
A
O Apr 1 1959
Various To Mob 1 1931
$256,193 yearly during Federal control (contract executed); other income,
$18,614; war taxes,$12,000; int., Ac., charges, $228,062; bal., sur., $34,745.
1917 (V. 106, jp. 2451), gross, $898,302 net, $379,036; other 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.).
In
★ WINSTON-SALEM (N. C.)
UNION STATION CO.—The bonds
are
first lien upon the union passenger station at Winston-Salem, N. C., and
the parcel or land (.84 of an acre) upon which the station Is erected.
The
Norfolk & Western Ry. Co., Southern Ry. Co. and Winston-Salem South¬
a
bound Ry. Co. own the capital stock, unconditionally guarantee the bonds,
lointly and severally, both prin. A int., by endorsement on each, and have
throughout the life of these bonds, paying
rental an amount equal to the cost of operation and int. on the bonds, I
Bond issue (limited to $250,000) is callable at 107 H A int. after Oct. 1930.
V. 103. p. 944.
Inc. in No. Oaro. Dec. 16 1915.
Pres., H. E. Fries.—
(V. 103, p. 240.)
contracted to use the terminal
as
★ WISCONSIN CENTRAL RAILWAY.—SYSTEM extends from Chicago,
bo Ashland, Wis., and Lake Superior iron mines; also to St. Paul and Minne¬
apolis and to Superior and Duluth.
By oar ferry connects with the Pere
Marquette and has a short line to the East. V. 63, p. 117. System includes
Lines owned—
Chlo. to Trout Brook
Lines owned—
Miles.
Miles.
Jot., Wis.. 459 Marshfleld to Nekoosa
Spencer to Ashland, Wis
146 Other branohes
Owen to Superior-....—-.—- 153 Trackage to Chlo., Minn., Ao.
Branoh to Bessemer
34 Rugby to Milwaukee, Ao...
Stevens Point to Portage City-- 71
33
109
-
-
77
28
—
Neenah to Manitowoc——
Total Jan 1
37
1920———
1.1,021
ORGANIZATION.—Successor July 1899 of Wisconsin Cent. Co., fore¬
closed 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 "Ohlcagcf Division," the road being leased for 99 years from
April 1 1909, and most of the pref. stock exchanged for M. St. P. & S. S. M,
secured by Wis. Gent. pref. stock, on which 4% dlvs.
paid. V. 88. p. 159, 232, 560, 626, 750, 1003, 1439, V. 89. p. 780.
leased line certificates,
are
authorized, common. $17,500,000; pref., 4% non«
$12,500,000.
Outstanding, com.. $16,119,000: pref., $11,265,300;
of shares. $100.
After 4% dividends on both classes shall have been
paid In any year, both shall participate equally In any further dividends
or 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.
STOOK.—Stook,
cum.
par
DIVIDENDS.—First dlv. on pref.. 4% for the year, paid 1% Deo 23
1908 and 1% each on Moh. 11 and July 15 and Oct. 15 1909.
On June 15
1910, 2%; Oct. 1, 2%; 1911 to Apr. 1 1920 4% yearly.
BONDS.—The IstGen. 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 General*, up to June 30 *14, $1,807,000 were purchased In the open
market and canceled, V. 75, p. 734,1204; V. 77, p. 1230; V. 86, p. 159L
The Superior A Duluth Division & 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 Superior
and Duluth.
V. 82, p. 806, 930, 1103; V. 83, p. 986; V. 84, p. 1429; V.
85, p. 532; V. 86, P. 1411; V. 88, p. 824.
The "First and Kef, "mtge. is limited to $60,000,000, of which $36,459,000
is reserved to refund existing bonds and equipment obligations and the re¬
mainder for general purposes; $6,000,000 nave been sold.
V. 88, p. 687,
824, 884; V. 89, p. 44, 1069; V. 94, p. 489; V. 98, p. 840.
The Minn. St.
P. A Sault Ste. Marie guarantees Interest on the bonds.
V. 95, p. 969.
The $1,000,000 3-year 5% gold notes dated Feb. 15 1915, secured by
deposit of $1,500,000 First A Ref. 4s are guar., prin. A Int., by Minn. St. P.
& Sault Ste. Marie., were paid of Feb. 151918 at par A Int. V. 106. p. 500,
GENERAL FINANCES.—The Wisconsin RR. Commission in May 1918
authorized the company to sell about $1,890,000 First A Ref. M. bonds ot
the issue of 1909 ($5,816,000 outstanding) at not less than 75 to provide for
the
retiring of First M. bonds of Marsnfield A Southeastern Ry. and for
106, p. 2236.
par, $50.
In Sept. 1909 $150,250 preferred stook was purohased by new
parties.
V. 89, p. 780.
The 4 Hs of 1901 oover the road and 3,000 acres
of ooal lands in Sullivan County, Pa., $250,000 being reserved for extensions.
V. 72, p. 990, 1280.
Reading Co. in 1918 owned $1,496,400 of stock.
Car trusts outstanding Dec. 31 1918, $10,000.
additional extensions and Improvements.—V.
For year ending Dec. 31 1918, gross, $120,453; net. $2,584; int., rentals.
Ac., $37,334; bal., def., $34,750.
In 1917, gross, $125,420; net, $28,898;
bal., def., $935.
Pres.,
; Sec.
A Treas., F. W. Corcoran.
Office, HughesvBle, Pa.—<V. 89. p. 780; V. 105, p. 608.)
Net earnings-.
Standard return
REPORT.—Report for year ending Dec. 31 1919:
1919.
-
69,488
Other income.---
Total income
★ WILMINGTON & NORTHERN RR.—(See Maps Reading System
Wilmington, Del., to Highs Farm, Pa., 90.44 miles; total track.
146.24 m. Leased to the Phila. A Read. Ry. for 999 years from Feb. 1 1900
tor int. on bonds and 3M% dlv. on stock, payable quar. (Q.-F. 15) and
organization taxes.
V. 80, p. 1858; V. 102, p. 1812.
Supreme Court
decision, V. 110, p. 1816.
Not
reported
$3,487,434
Operating revenue
Interest, taxes, &c—
...
—
$3,556,922
2,038,286
^
_
1918.
1917.
* 1016.
Not
$13,814,211 $12,895,764
reported
$4,944,187 $5,712,317
$3,424,338
----------24,443
77,763
69,834
$5,021,950
3,339,941
$3,448,781
2,403.750
$5,771,651
3.259.188
Owns
WILMINGTON RY. BRIDGE.—Owns Hilton to Navassa, N. 0., 2.4
Stook, $40,000, owned by Seaboard Air Line Ry. and Atlantic
RR., which lointly guarantee the $217,000 bonds—see table
above.
Pres., Geo. B. Elliott, Wilmington, N. O.; Seo. and Treas.. R L.
Nutt, 24 Bread St., New York.
miles.
Ooast Line
WINONA BRIDGE RAILWAY.—Seepage 139,
★ WINSTON-SALEM
SOUTHBOUND
RY,—Owns Winston-Salem, N.C.
on Norfolk A Western, to Wadesboro on Atlantic Coast Line RR.. 88 miles.
Under trust agreement (V. 196. 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.
Received a loan from Govt,
to
April 1 1919, $112,000, at 6%.
Report for 1919: Federal compensation,
$1,518,636 $1.045,031
$1,682,009 $2,512,463
$450,624•
$450,624
$450,612
$450,612
accumulated surplus, but substantially paid dur¬
ing respective years shown—see V. 93, p. 792.
OFFICERS.—Pres., E. Pennington; V.-R, A. H. Bright; Oomp., O. W.
Gardner; Secretary and Treasurer, G. W. Webster, and Asst. Sec., W. P.
Crank, all of Minneapolis.—(V. 108, p. 2524.)
'
Balance, surplus
Dividends on preferredDividends paid out of
A WISCONSIN & MICHIGAN RR.—Operates from Falthorn June..
Mich., to Menominee. Mich., 49.8 miles.
Successor, after foreclosure
sale, of the Wisconsin A Michigan Ry. Co., acquiring or at least operating
only the portion of the road above mentioned.
Pres., John Marsch, Chicago; V.-Pres.,
Treas., Nicolas Marsch, Chicago.
1899, 2096.)
W. H. Wright, Menominee, Mich,
Office, Menominee,-Mich.—(V. 105.
WISCONSIN & NORTHERN RR.
!
WRIGHTSVILLE & TENNILLE
RR. and YOSEMITE VALLEY RR.- -See page 139,
RAILWAY STOCKS AND
^Contract.
138
Chicago, 331 m.; leases Ohlc. Kalamazoo &
Chic. & Kalamazoo Terminal, 1.73 ra.; trackage Chic. &
West. Ind.. 5 m.; total. 347 m.
Stock. $6,000,000. all owned by Grand
Trunk. V. 69. p. 954: V- 71. P- 22. Allied line. Pont Ox & Nor.. 100 m.
Equipment trusts issued to Director-General for rolling stock allocated
to this company.
See article on page 3.
O.. and
equally
by the Cleveland Akron & Cincinnati, Bait. & Ohio, Erie RR. andNorthern
Ohio Ry.
Bonds auth., 31,500,000: Issued. 31,240,000; 1264,000 redeemed
by sinking fund; $260,000 for future needs.
Results for 1918: Annual Govt,
compensation, $30,104; other income, $831.—(V
105, p. 71.) ;
A AKRON CANTON & YOUNQSTOWN RY.—18% m. from 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
R. R. under a 999-year leasr form the Lake Erie & Western R. R.
V. 110,
p. 560.
Year ending June 30 1916 (7 miles), gross, $276,194; net, after
taxes, $157,821; other income* $1,318; int. and rentals, $130,313; b^l., sur.,
$28,826.
For 1917, gross, $477,702; net, after taxes, $259,721.
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.
A AMADOR CENTRAL RR.—lone to Kartell. Cal.. 12 m. Stock, 3400,000,
$100.
Mortgage, see V. 88, p. 156.
Year ending Dec. 31 1919, gross,
$80,501; net. after taxes, $3,414; int., rentals, &c., $15,393; bal., def.,
$11,980.
Dividends 1911-12, 6 2-3%, $25,000 from accumulated surplus,
1018 and 1919, 1% each year.
Pres., Meta J. Erickson, San Francisco.—
(V. 88, p. 156.)
]
par,
A ATLANTIC QUEBEC & WESTERN
RY.—Paspeblac to Gaspe, Que¬
miles; trackage, 1% m.
Stock $2,000,000 in $100 snares.
The interest due July 11917on 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.
Jan. and
July 1 1919 interest not paid.
V. 109, p. 1985.
A 5% 2d Mtge.
Deb. 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.)
,
,
bec,
102H
A BIRMINGHAM & ATLANTIC RR.—Talladega to Pell City, Ala., 22
miles; branches, Rogans to ore beds, 9 miles, and Furnace to Weteingers,
miles.
Stock, $500,000. all common; par of shares, $100.
Bonds.
$500,000 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.)
3
"
"'
""*
"
"
*
1
Chic. &
West. Ind. RR.. at
Saginaw. 9.57 m.;
SUPPLEMENTARY—See also pages 6 to 135.
★ AKRON & BARBER TON BELT KR.—Belt line at Barberton.
Fairiawa to Akron, O ; total, 23.1 m.
Stock, 3100,000. owne<l
[Vol. 110.
RY.—Owns from Port Huron, Mich.,
WESTERN
TRUNK
★ GRAND
to
RAILROAD COMPANIES.
A».
BONDS
."-msy*
PBOYNE CITY GAYLORD & ALPENA RR.—Operates Boyne^City to
Alpena, Mich., with branches, a total of about 92 miles, forming a crossState line from Lake Michigan to Lake Huron.
An issue of $800,000 1st
mtge. 20-year 5s was sold in 1917, also $47,000 note maturing part yearly
July 1 1918 to 1922, incl.
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. bonds had been paid.
See V. 105, p. 1616, 2183; V. 110, p.
969.
BROWNSVILLE & MATAMOROS BRIDGE CO.—Owns International
bridge over the Rio Grande River between Brownsville, Tex., and
Matamoroa, Mex., connecting St. Louis Brownsville & Mexico Ry. (New
Orleans Texas & Mexico) and National Rys. of Mexico.
Stock, $650,000,
mie-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 1918, gross, $58,615: net, $52,283; other income, $4,472;
interest, $20,250; taxes, &c., $5,217; bal., sur., $31,288.
See National Rys.,
Y. 94, p. 277.
.
1
,
iceel
"STANDARD
RETURN," &c.—See page 5.
BONDS.—The Grand Trunk
unconditionally guarantees the Interest on
The Incomes were called for payment on Dec. I 1910 at 85 and
then due.
V. 90. P. 1239.
Jointly with Toledo St. Louis & West,
guarantees Det. & Toledo shore Line bonds.
V.76.P-6o3; 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 interarb;
$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.
1st 4s.
trie
any int.
Jan.
Jan. 1 -Dec. 31
1 -Mar. 31
1919.
1919.
1918.
$2,964,504 $22,342,065 $19,376,032
628,974
4,312,660
2,135,980
1920.
EARNINGS.—
$3,879,829
Net488,258
Gross
-
Year ending Dec. 311918, Government compensation, $1,004,410; income
$718,017; int. on funded debt,
>351,950; other int.
charges, $33,968; rentals and misc., $455,826; bal., def., $119,317.
For
1917, gross, $16,208,568, and net before taxes, $2,375,492.—('V. 110 ,p .970.)
from investments, &c.,
J^!^2Tto^k"e
{^GREENVILLE & r^ORTHERr^RY7^5rganized in
over and operate the Greenville & Western Ry. (see below).
Pres., W. H
Cook; V.-P., A. N. Holohan, Duluth, Minn.; Sec., L. Carlson, Greenville,
S.O.—(V. 110, p. 764, 359.
A GREENVILLE & WESTERN RR—Owns Greenville, S. C., to Riverview, 23 miles.
V. 99, p. 406.
Road was taken over and operated ra Jan.
1920 by the Greenville & Northern Ry., which was organized for the pur¬
pose.
Stock, $50,000; par $100.
Bonds, see table above.
Pres., R. A.
McTyer; Treas., Carl H. Lewis, all of Atlanta, Ga.—(V. 110, p. 359.)
AdUANTANAMO & WESTERN RR.-Owns from Boqueron at Granadillo
day on south coast of Cuba, via San. Juato and La Maya to San Luis, with
mills; total mileage, incl. sidings and yards, 108.42
miles.
Incorp. in Maine.
A reorganization after foreclosure Mar. 1 1910,
per plan in V. 88, p. 294.
Control acquired in Aug. 1916 by Cuban bank¬
ers.
V. 103, p. 758; V. 93, p. 1725.
Stock authorized and Issued common. $2,750.000:1st pref. 7% non-cura.,
$2,750,000, and 2d pref. 5% non-cum., $250,000 (in treasury $232,300.
$233,600 and $153,000 respectively); par of all shares, $100 each.
Equip¬
ment trust notes, 1918, $293,000; loans and bills payable June 30 1918 (3
S6Ti6s)
^ ji 224 045
Tho'Refundi'ng Mtge. for $6,000,000 was executed Feb. 1 1918 and sub¬
sequent to June 30 1918, $1,400,000 6% bonds secured thereby, were sold
and a further $600,000 was expected to be outstanding by June 30 1919,
thus taking care of all the aforesaid floating debt.
V. 107, p. 2470.
branches to varloua sugar
EARNINGS.—For year ending June 30 1918 in V. 107, p. 2470, showed:
Oper. revenue, $748,664; gross income, $60,805; interest on funded debt
(1st M. $36,000: equip, trust, $18,482; coupon notes, $10,125), $64,607;
hire of equip., &c., $8,261; interest on unfunded debt, $69,688; amortiz
discount, $10,063; net loss, $91,814.
OFFICERS.—M. H. Lewis, Pres.;
Juve and Jose Bosch, V.-Ps.
Gabriel
(V. 103,
p.
1508, 1592; V. 105, p. 2179;
Robert L. Dean, Sec. & Treas.,
N. Y. office. 44 Whitehall St.—
V. 107, p. 2470.)
.
A BUTTE
V pACIPIC"RY^—Oww^Butte
to Anaconda.
Mont., and west to Southern Cross, 47 miles; spurs, 38 m.; 2d track, 2 m.;
sidings, 63 m.; total, 150 m.; also leases Stuart to Anaconda, 9 m.; sidings, 5
m.; total, 164 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% and Chic. Milw. & St. Paul Ry. 49%.
Dividends: 1910 and
1911, 0%; 1912, 3% and 150% in stock; 1914, 44%; 1915, 6%; 1916, 1917
and 1918, 12%.
Bonds ($5,000,000 auth. issue), or which $3,000,000 have
been sold, are guaranteed prin. and int. by Anaconda Copper Mining Co.
V. 98, p. 837.
For year ending Dec. 31 1918, gross, $2,095,714; net,
$559,990; charges, $187,067; common div. (12%), $300,000; bal., $72,923.
—(Y. 101, p. 1884.)
ANACONDA
A CALGARY & EDMONTON RY.—Owns Calgary Jet., Canada, to Ed¬
monton, Canada, 192.8 miles, and to Fort McLeod, Canada, 107 miles; Wetasklwln to Uardlsty, 100.2 m.; Lacombe to Kerrobert, 223.1 m.; total,
623.4 miles.
V. 93, p. 1785; V. 94, p. 910.
In 1903 re-leased to Canadian Pacific (which owns entire $1,000,000 stock
HAMPDEN
RAILROAD
CORPORATION.—Owns Springfield to
Bondsville, Mass., 14.82 miles; completed, but in Jan. 1917 not yet oper¬
Stock auth., $1,400,000.
V. 100, p. 1509.
Bonds, not issued,
ated.
Notes, about $2,000,000 6s.
V. 99, p. 537.
On July 2 1914
was filed against B. & M. to enforce alleged "contract liability" amount¬
ing to $3,798,000, the approximate cost of road.
The Boston & Maine reorganization plan of Nov. 1918 made no provision
$1,900,000.
suit
RR., as the Court had ruled that it
against the B. & M., but see V. 107, p. 1919, 2008; V.
for the Hampden
has no valid claim
109, p. 172, 477.
AHOOSAC TUNNEL & WILMINGTON RR.— Hoosac Tunnel
Mass.,
Wllmlngtoo. Vt., 24 mtles.
Mad« standard-gauge In 1912.
V. 9o, p.
1541
Stock. $250,000:
par, tt00.
Dlvs.: In 1903. 2%: year 1905-06.
3%; 1910-11 and 1911-12, 10%; none since.
Earnings for 1919, gross,
$142,692; net, $50,982; other income, $8,098; int., $10,966; sur., $48,114.
Earnings for 1918, gross, $134,639; net, after taxes, $34,408; bond int.,
$11,066; bal.,sur., $23,341.
Pres., John P. Kellas, Malone, N. Y.—(V. 95,
p. 1541.)
to
and
$5,900,000 1st M. 4% bonds) for 99 years; debenture stock Interest
Is guaranteed at 4%.
In 2002 the bouds will be paid or a further lease en¬
tered Into.
V. 70. p. 434: V. 77. p. 1224; V. 80, p. 116.—(V. 94. p. 910.)
★ HOUSTON ic BRAZOS VALLEY RR..—Owns Anchor to Freeport and
Bryanmound, 28.40 miles; leased mileage Freeport Term. Co., Freeport
Sulphur Docks f mouth of Brazos River, 2.07 miles.
Total mileage, 30.47.
Switches and sidings, 6.63 miles.
In March 1916 Receiver George C.
Morris was authorized to issue $100 000 6% receiver's certificates to build
a bridge over the Brazos River connecting Yalasco 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 the U. S. District Court, Southern Dist., Texas,
Houston.
V. 103, p. 2155.
The Missouri Kansas <fe Texas owns a half interest iu 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
to
A CALIFORNIA-WESTERN RR. & N AVKiATiON CO.—Owns Ft. Bragg,
Stock issued, $1.000.000; par, $100.
Divs.
Cal.. to W11 lits, 50.00 miles.
paid year 1909. 24%: 1010
74%: 1911. 10%- 1912, 10%; 1913-14,none;
1916, 6%; 1917, 24%; 1918, 74%.
Bonds are guaranteed p. & i., by
V. 99, p. 894, 1213; V. 100, p. 1436.
Year ending
Dec. 31 1917, gross, $261,365; net, $89,104; other income, $11,450; int.,
rentals, &c., $54,266; com. div. (2lA%), $25,000; bal., sur., $21,287.—
(V. 100, p. 1436.)
Union Lumber Co.
ACAMBRIA & INDIANA RR.—Oolver Heights to Manver, Pa., 218 ra.;
branches to
Rexis.
Revloc, &c., 34 64 in.; total, 56.44 m*es.
Stock,
per gross ton
$1,500,000.
Bonds, $900,000 authorized; sinking fund, 2c.
on coal originating on the lino; minimum, $16,000.
Authorized Issue of 1st M. 5s of 1911. $4,000,000, of which on Dec. 31
1919 $900,000 had been Issued, and of these $149,000 had been retired and
$75,000 had been pledged.
The 2-year Coll. Trust 6% notes issued Aug.
1 1919 to refund $500,000 2d M. notes matured, &c.—V. 109, p. 370.
Equipment trusts Dec. 31 1919, $51,000. Series "A" 5s, due annually to
Sept. I 1921; $120,000 "B" 5s, due annually to Feb. 1 1927; $180,000 "O"
5s, due annually to Feb. 1 1928; $240,000 Series "E" 5s, due part annually to
May 1 1929, and $1,056,000 "F" 44s. due annually to Dec. 31 1931.
EARNINGS.—For calendar year 1919: Gross, $630,657; net, $165,596;
other income, $508,889; int., taxes, rentals, &c., $211,958; sur., $196,020.
For 1918: Gross, $557,393: net, $372,423; other income, $439,554; interest,
taxes, rentals, &c., $222,406; bal., sur., $254,390.
In 1918 paid dividends
of 25% on the common stock from accum. surplus.
Pres. & Gen. Mgr.,
Dawson Coleman;
Year
Dec. 31T7
324,973
461,039
—(V. 108,
p.
★ CHICAGO
MILWAUKEE
& GARY
RY.—In operation from
Rock-
ford, 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.
Oct.
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
ended Dec. 31 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.)
A (THE) COLORADO WYOMING & EASTERN
RY.—Owns from the
Union Pacific RR. at Laramie, Wyo., to Coalmont, Colo., 111.35 miles.
Incorp. in Wyoming June 2
Halm
1914.
Successor June 4 1914 of Laramie,
foreclosed per plan V. 98, p. 453, 1766, 1845.
Sanderson and Trowbridge Callaway, as
voting trustees, will hold the new stock until all accrued Interest on the
income bonds shall have been paid and the current Interest paid regularly
for 2 consecutive years, and for such further period not exceeding one year
as the trustees in their discretion may deem advisable, if lawful.
Stock,
common, $2,300,000; pref. 6% non-cum. $2,000,000, par $100.
For oal. year 1918, gross, $211,863; net, 348,638; int., rentals, &c..
$156,615; bal., def., $107,977. In 1917. gross. $181,542; bal., sur., $9,636.
s
Peak & Pacific Ry.,
Alexander J. Hemphill, Henry
DEATH VALLEY RR.—Owns line In Inyo County, Oal., to the Biddy
McCarthy borax mine. &c., 21 miles.
Bonds (all or part) guarantees by
the,Borax Consol.. Ltd.
For the year 1919 gross earnings were $76,861;
net
income, def., $581.—(V. 110,
p.
1088.)
Net.
$171,137
96,153
145,613
Expenses.
$275,457
228,820
315,426
'
1511.
&e.
$31,797
42,923
44,344
Fed. Ry.
Oper.Inc.
$139,310
Revenue
Ton M.
7,333,350
10,579.487
.
RY.—Owns Salem, 111., to Bismarck. Mo. (in¬
cl udng River Transfer, 60 miles), 123.34 m.; Collins, 111., to Chester, 111.,
10.67 ra.; branches. 2.83 m.: total owned. 136.82 m.;
trackage, 2.81 m.
On Sept. 17 1918 William W.Wbeelock was appointed receiver.
1st M.
bonds in default.
V. 107, p. 1192.
Operations were suspended inDec.
A ILLINOIS SOUTHERN
1919.
.Stock, com., $4,000,000: 6% cum. pf., $1,000,000: par, $100, all out.
Bonds.—V, 93. p. 589; V. 90.p 167. Holders of $1,528,000 1st M. bds.
Sec^Treas., L. G. Ball. Office, Land Title Bldg.,
CENTRAL RY. OF CANADA.—See issue of Nov. 2 1918.
30'T88446,594
June 30*17
Additions
Gross
ending—Revenue.
Dec.
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.
Under an order entered on Dec. 11 1919 by Federal Judge George Car¬
penter in the U.S. District
—(V. 110, p. 77.)
Court at Chicago, the road ceased operating.
~
<
31 1918: gross, $672,611; def , after
taxes, $191,159; int.,&c., $108,608; def.. $299,767.
Pres., E. K. Boisot;
Sec.. E. M. Tourtelot; Treas., O. A. Bestel, Chicago; V.-Pres., J. W.
Walsh; Aud., A. F. Williams.
Office, 915 Oliver St., St. Louis—(V. 110,
p. 77, 1748.)
REPORT.—For year ending Dec.
INTEROCEANIC RY. OF MEXICO.
LTD.—Vera Cruz to Mexico City.
Mex., 338 miles; Los Reyes to Puente de Ixtla, 123 miles; Los Arcos to
Cuautla, 102 m.: 3 branches, 30 m.; Mexican Eastern Ry, (V. 73, p.
1263)
141 miles; leases Mex. Southern Ry., 313 miles: total, 1,047 m
Conces¬
sions end Feb. 1982, after! which road passes to State at a valuation
Nat. Rys. of Mexico (wbioh see) owns £1,038.450 of the 2d debentures,
£1.310,500 ordinary and £244.800 pref. stock. About Aug. 15 1914 the
Govt took possession
V 100 p 55
See Nat Rys of Mexico
Mex
In May
1919 property was still operated by Mexican Government.
SECURITIES.—The deben. stockholders In 1914 approved a plan (V.96p.
48, 674) for deferring interest payments
torium for a further three years from
and in 1917 extended the mora,
V. 101, p. 130; V. 104,p.2343#
May 29.
1908 and 1909, 5% 1910 and 1911
5% each (M. <fc N.).
In 1912. Nov.. 5%; 1913. Dec., 4%.
On 2d pref.,
1% 1909; Nov. 1910. 4%; Nov. 1911. 4%; Nov. 1912. 2%; 1913. none
DIVIDENDS on
1st
pref., 44%
97. p, 1895. V. 100.
St.—(V. 104, p. 2343.)
REPORT.—For 1912-13 in V
N. Y. office. 25 Broad
p.
55.
RAILWAY
Mat, 1920.] ftEST
STOCES
than
equipment trust certificates, which are being retired annually.
The
lines have direct connection with the Southern Ry., Louisville & Nashville
RR., Norfolk 8c Western Ry. and the Carolina Olinchfleld & Ohio Ry.
Equipment trusts of 1913 and 1917 (V. 95, p. 1608; V. 104, p. 1045) guar¬
91, p. 1636), which owns 99%
anteed by the Virginia Coal 8c Iron Oo. (V.
/Of the capital stock.
Gross (year ending
Dec. 31 1918), $644,107; net.
$50,858; other income, $109,713; int., rents, &c., $61,591; surp., $98 979.
Pres. of RR., Harry L. Miller, Big Stone Gap, Va.; Sec., Lafayette Lsntz,
Treas., Harrie B. Price, Land Title Bkig., Phila.—(V. 95, p. 1608; V. 104.
p. 1045.)
★ WINONA BRIDGE RAILWAY.—Owns bridge between Winona, Minn.,
md Buffalo, Wis., 1.03 miles: opened Sept. t 1891.
Leased for 30 years
no Chicago Burlington
& Qulnoy and Green Bay & Western, the former,
it was reported, acquiring about 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 retire the extended bonds at maturity.
Year end. Dec. 31 1918, total net earnings, $36,637; int. on bonds. $14,-
840; sinking fund payments & misc., $16,601; bal., sur., $5,196.—(V. 101,
the Mexi¬
A WISCONSIN & NORTHERN RR.
NILLE
RR.—See issue of Nov. 2 1918.
★ NORFOLK & PORTSMOUTH BELT LINE RR.—Owns Port Norfolk to
Berkley, Va. .6.13 miles, and Southern branch extension. 6 01m.; operated
In 1918 built from Virginian Ry. to Elizabeth
line owned, 14.10 miles; leased, 4.20 miles; total
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. 8c West., Ches. & Ohio, N. Y. Phila
& Norfolk, Seaboard Air Line. Norf. Sou.. Southern Ry. and Virginian Ry
Bonds, see table.
Loans and bills payable as of Dec. 31 1918, $50,000.
Year ending Dec. 31 1918, Federal compensation (incl. $3 miscel. income),
$48,671; int. on bonds, $18,923; other charges, $19,025; bal., sur., $10,723.
For 1917, gross, $388,867; net, after taxes, $110,216.—(V. 110, p. 562.)
under lease, 1.85 miles.
River 2.47 miles (main
all track, 56.55 miles).
ASOUTHWESTERN RY.—Owns Henrietta to Archer, Tex., 29.07 miles;
Henrietta terminals, 0.75 m.
Oil Nov. 12 1917 A. C. Parks was
receiver, 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
made
★ WRIGHTSVILLE
& TEN-
A YOSEMITE VALLEY RR.—Merced. Cal., to the Yosemita National
Park, 78 miles, completed May 15 1907.
Stock. $5,000,000, all outstand¬
ing; par, $100.
1st M. bonds ($3,000,000 auth.).
V. 82, p. 511,930; V. 84,
p. 1553.
Chairman of bondholders' committee, Charles K. Mcintosh, care
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 the
funds.
V. 109, p. 74.
Coupons due July 1 1919 were paid on Dec. 1919.
V. 110, p. 79.
2d M. 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 the
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. 110, p. 79.)
AMOREHEAD & NORTH FORK RR.—Morehead to Redwine, Ky.. 25
miles; 6 m./branch.
Stock, auth., $500,000; out, $260,600; par, $100
Bonds, see table above.
For year ending June 30, 1916, gross, $79,922
net, after taxes, $9,802; charges, $19,591; bal., def , $9,788.
Pres.. A. W.
Lee. Clearfield, Pa.; Sec. & Treas., John W. Wrigley, Clearfield, Pa.
A SI'. LOUIS TROY & EASTERN RR.—East St. Louis, II!.. to Troy. Hi.,
with branch 1 mile to Donkvllle, 111.; total, 18.9 miles; leases St. Louis &
Belt, Edwardsville, III., to near Formosa, 111., 7 m.; yard track and
sidings, 17.28 m.; total, 45.19 miles.
Stricriy a freight road.
In Jan. 1916
sold $202,000 5% equip, notes guaranteed prin. and int. by Merchants' &
Mfrs.' Investment Co. (which owns the $850,000 cap. stock) and Pres.
Conrades. V, 102. p. 154,251.
Dividend record bo Jan. 1 1916: 12HJ% in
1903 and 1904; 25% each year 1905 to 1909 incl.; 12 4% in 1910 and 10%
In 1912.
None since at last advices.
For year 1915-16, gross, $350,421
net, $134,692; int., &c., $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.
1629.)
p.
83 miles, all steel.
See V. 64, p. 619.
American Metal Oo.
V. 108, p. 480.
Bonds, see V.
88. p. 1437, 1500; V. 89, p. 104; V. 91, p. 1028.—(V.
103, p. 759; V. 107, p. 2098; V. 108, p. 480.)
Central Ry. to Sierra Mojada,
In Jan. 1919 reported under lease to
can
111.
139
Control.
OFFICERS.—Pres., R. C. Baker; V.-P. & Gen. Mgr., C. B. Zabriskie;
Sec., M. R. Musser.—(V. 103, p. 1882.)
AJONESBORO LAKE CITY & EASTERN RR.—Owns Jonesboro to Barfield, Ark., 63.23 miles; Osceola Jet. to Osceola, Ark., 14.33 m.; Midway to
Luxora, 9 6 m.; Ross to Wilson, 17 m.; total, 96.16 miles.
Stock, $600,000
Bonds. $724,000 outstanding, of which $70,000 are pledged as collateral.
Loans and bills payable Dec. 31 1919, $204,759.
For calendar year 1919,
gross, $509,701; net, $14,256.
Pres., R. Lee Wilson; Treas., E. J. Mason.
Office, Jonesboro, Ark.—(V. 110, p. 167.)
A ROCKINGHAM RR.—Owns Gibson to Leak, N. C„ 21H miles.
Opened
May 1912.
Incorporated in No. Car. In 1910.
Stock, 572,000; par 5100.
Bonds, see table above.
Pres., T. O. Leak. Sec. & Treas.. J. LeGrand,
Everett.
Office. Rockingham. N. O.
APrlvate
BONDS
ATONOPAH Sz TIDEWATER RR.—Owns Ludlow, Cal., on the Atoh.
fop. 8c Santa Fe, to Beatty, Nev., 169 miles; extension proposed to Tonopah, Nev., 110 miles.
Stock auth., 51,000,000.
The debenture stock
jertluoatea are guaranteed bv the Borax Consolidated, Ltd., and are seoured
by deposit of mortgage and bonds issued thereunder with the Indian 8a
General Trust Co. Ltd.. of London: redeemable at 105.
V. 81. p. 1793:
Y. 82, p. 753, 871, 1440.
The bonds of 1905 and 1907 are guar, by Borax
Consolidated. V. 86. p. 722.
Earnings for cal. year 1919: Gross, $423,240; net, after taxes, def., $7,831.
★ INTERSTATE RR. (OF VA.).—Operates about 55 miles of track In
Southwestern Virginia, of which part fa owned, extending from Stonega
via Norton to Glamorgan, <fec.
In March 1917 had no funded debt, >ther
MEXICAN NORTHERN RY.—Owns from Escalon. Mexico, on
AND
COMPANIES.
INDUSTRIAL
140 to 239.
SUPPLEMENTARY—See also Tables
CUMBERLAND TELEPHONE & TELEGRAPH CO.—Incorporated
in
Kentucky in 1$S3.
Operates under perpetual and exclusive license from
American Bell Telephone Co. through the entire States of Mississippi and
Louisiana, Tennessee and Kentucky and a few counties in Illinois.
Sub¬
scribers Dec. 31 1918 owned stations. 214,120: connecting stations, 105,619
Southern Bell Telephone & Telegraph Co. owned Dec. 31 1916 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. & Tel. Oo. and by it
exchanged for Cumb. stock, which has been canceled.
V. 93, p. 1467; V.
94, p. 210, 354.
Bills payable (Dec. 31 1918), $8,822,693.
The $6,000,000 notes due Feb. 1 1919 were paid at maturity.
DIVS.—1*92 to'97. '98. '99. *00. *01. '02to'07. '08. '09toT2.'13.*14-'17
5
o*i 6>* 6^ 7 yearly 7M 8 yearly 7
6
Amor. Tel. 8c Tel. Co. Sept. 15 1909
Cash %
\ 4 yearly
Also 2% in stock of
REPORT.—Report
for
year
1917, in V. 107, p. 179, shows:
Gross.
$9,219,954; net, $2,379,936; rent, int., &c., $1,345,041; divs. (0%), $664,809; bal., sur., $370,086.
For 7 months to July 31 1918, oper. rev., $5,-
604,554; sur., bal., after 3% on stock, $27,796.
(V. 107, p. 179; V. 108, p. 272, 1063.)
Offices, Atlanta, Ga.—
ABBREVIATIONS USED IN THIS SECTION
Note.—Railroad lines owned, controlled or operated under contract by
Administration
marked
"A "
(either directly
were
or as
dependencies
under private control.
Lines not marked are foreign lines or have a status not
EXPLANATORY.—This Supplement is expressly
week In the "Chronicle."
may
be found.
Item has
under the U. S. RR.
subject to change. Those
doubtful.
companies whose titles in the text are marked "★ " were
leased lines of larger companies) at latest advices, but in some cases
or
ascertained or
intended for use in connection with the investment news and official reports
published from week to
"Chronicle" (as V. 109, p. 000), where fuller Information
"Chronicle" respecting the company. As every such
back at pleasure. Annual reports are In black-faced figures.
Frequent reference is made therefore to the volume and page of the
Following each statement also Is given a reference to the latest news item in the
appended
a
reference to the last preceding Item, the reader can run
Index.—Any company not in regular alphabetical order may be
Dividends.—The dividends ("divs.") in the text are in
found by means of the index, on another page, to roads
general those actually paid during the calendar years
Net Earnings are given after deducting operating expenses
leased and consolidated.
named, irrespective of when earned.
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:
I
bonds, this means the miles of road owned covered by the mortgage.
Par Value.—Shows (in dollars unless otherwise marked), the denominations or par value, "100,
Miles of Road.—Opposite
Size or
&c.," signifying $100 and larger.
stock or scrip.
F & A, February and August; M&S, March and September; A&O, April and October; M&N.
D, June and December; Q-J, quarterly from January; Q-F, quarterly from February; Q-M, quarterly from March.
Rate Per Cent.—The interest and dividend rate per annum
is here shown; g, gold; cur, currency; x, extra; s,
When Payable.—J & J stands for January and July;
May and November; J &
Bonds, Principal When Due, &c.—This column shows for
declared.
.
bonds the date when they mature; for stocks the amount and date of the last
dividend paid or
.
Other Abbreviations: M for "mortgage"; Gen M for
"general mortgage"; Con M or consol M for "Consolidated mortgage"; Inc M for
"Income mortgage"
g for "gold"; c or
for "convertible ii
IntenfhangeaMet "br
"branch"; end
"endorsed'*; red '"redeemable"; dr'n
or
dLrawn; by lot call, ''subject to call"; p m "per mile"; ass'd, "assumed.*
for taxes (deductible at source) is indicated in the table as follows: "x" The bonds so marked contain the
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¬
pany is required to deduct as withholding agent (V. 104, p. 699).
xxx "Free from 0. S. income tax up to 2%, deductible at source."
xxzx "Free
from U. S. income tax up to 4%, deductible at source."
y "Free from taxes except Federal income tax."
yy "Free from all taxes except Federal
and State income tax."
z "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 0. S. taxes, deductible at source."
vv "Payable without deduction
for taxes, except succession, inheritance and income taxes."
vvv Payable without deduction for Federal, State, &c., 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)
taxas other than successive inheritance and income taxes.
Taxes.—The position as regards deductions
broad tax-exemption clause
Mortgage Trustees and Stock
NEW
Ba
YORK
Union
Trust
Ce
—Central
Col
Em
—Columbia Trust Oo
Co
fc
Pr
G
Me
Mp
N
T
Us
Trust Co
MeBa—Mercantile Tr 8c Dep
S13a —Safe Dep 8c Trust Co
—Franklin Trust Co
—Guaranty Trust Co
—Mercantile
Trust
&
Deposit Co
—Metropolltan.Trust Co
York Trust Co
—Title Guar & Trust Oo
■United States Trust
Usm—U 8 Mtge 8c Trust Co
BALTIMORE—
—Baltimore Trust Co
CoBa—Continental Tr Co
—American Trust Co
BB
CB
—Boston Safe Dep 8c Tr
—Commonwealth Tr Co
FB
—Feleral Trust Co
FiB—Fidelity Trust Co
IB
—International Tr Co
NB —New England Tr Co
OB —Old Colony Trust Co
SB
—State Street Trust (Jo
UB
—United States Trust Co
CHICAGO
CeC—Ceatral Trust Co of III
ChC—Chicago 8av Bk & Tr
—Continental 8c
Com¬
CC
mercial Tr 8c Sav Bank
BBa
EBa
FBa
—Equitable Trust Co
—Fidelity Trust Co
FC
—First Trust &
Sav Bk
H C —Harris Tr 8c 8av Bank
FoC—Fort
Dearborn
Tr &
SavJBank
IC
MC
NC
—Illinois Trust 8c SavBk
—Merchants' Loan 8c Tr
—Northern Trust Co
PC
BOSTON—
AB
—Empire Trust Co
—Equitable Trust Co
—Farmers' Loan & Tr
—New
Transfer Agents (TR Treasurer's Office) are indicated thus:
M Ba —Maryland
CITY¬
Oo
'S ankers Trust
—Peoples Tr & Sav Bank
SC
—Standard Trust Co
UC
—Union Trust Co
CINCINNATI—
UCi—Union Sav Bank & Tr
CLEVELAND—
CCI —Citizens' Sav & Tr Co
CI CI—Cleveland Trust Co
FCI —First Trust 8c Sav Bk
GCI —Guardian S Bk & Tr
DETROIT—
—Detroit Trust Oo
—Security Trust Co
UD —Union Trust Co
DD
SD
INDIANAPOLIS—
UI
—Union Trust Co
LOS ANGELES, CAL—
LLo—Los Angeles Tr & Sav
Bank
SLo —Security Tr 8c Sav Bk
LOUISVILLEPL —Fidelity 8c Columt Tr
—Louisville Trust Co
NEWARK, N J—
FN —Fidelity Trust Co
LL
NEW ORLEANS—
HNo—FliberniaBk&TrCo
WNo—Whitney Central Tr &
^
Sav Bank
PITTSBURGH—
Co
CwPl—Commonwealth Tr Co
DPi—Dollar Sav & Tr Co
FPi —Fidelity Title & Trust
PP1 —Pittsburgh Trust Oo
RPi —Real Estate Tr Co
ClPi —Colonial Trust
SP1 —Safe Deposit 8c TrCo
UP! —Union Trust Co
PORTLAND, ME —
FPo—Fidelity Trust Co
PROVIDENCE—
IPr
—Industrial Trust Co
pr—Union Trust Co
8Pr —Rhode IslHospTrCo
ST. LOUIS—
AmSt—American Tr Co
MeSt —Mercantile Trust Co
m
MSt
SSt
^
—Mississippi Valley Tr
—St Louis Union Trust
PHILADELPHIA—Commercial Trust Co
—Fidelity Trust Co
GP —GIrard Trust Co
GuP—Guaranty Tr & S Dep
LoP —Logan Trust Co
MP —Merchants UnTr Co
PhP—Philadelphia Trust Co
PIP —Provideut Life 8c Trust
PeP —Penn Co tor Insur on
CP
FP
Lives & Gr Annuities
RP —ReaiEstateT&IOo
WP —West End Tr&S D Co
SAN FRANCISCO—
AS
—Anglo California Tr Oo
MS —Mercantile Trust Co.
US —Union Trust Oo
WILMINGTON. DEL.
WW—Wilmington Tr Oo
,
INDUSTRIAL AND MISCELLANEOUS COMPANIES.
MISCELLANEOUS COMPANIES.
Date
Par
Amount
Rate
When
Last
Dividend
[For abbreviations, Ac., see notes on first page]
Bonds
Value
Outstanding
%
Payable
and
Maturity
Q—M
June 1
Q—M
Q—M
June 1 1919.
See text
Acme Tea Co—Common stock
First preferred stock 7% cum
100
&
J
9,479,500
M
&
6 g
962,000
13,750,000
100
12,500,000 See text
Q—J
None 601,614 shs
June 1
50 &c
Jan
1
500
cum
630,000 shrs
Nc*
Alabama Trac Light & Power Co—Com stock $25,000,000,.
Preferred stock (a & d) 6% cumulative $5,000,000
First M $25,000,000 gold red 105 1% sink fund beg 1920 c*
7.824,000
ice
vf
4 g
4 g
&c
1919
1919
522,000
6
3,791,000
6
10,000,00012 in
50 &c
50
—
Secured gold notes $5,000,000 callable (text)
Broadway, New York
Bankers Trust Co. N Y
A
Guaranty Trust Co,
Bankers
Dec 1925
Trust Co.
N 1
N Y
100
after 1918; call 105
Series "A" bonds $660,000 callable at par s fd 1-12th ylyBa
Series "B" $3,992,000 call (text) at par s fd l-25th ylyBa
Aiax Rubber Co Inc—Stock $20,000,000 auth
Alanama Power Company—
1st M $100,000,000 s fd call 105 after 1921
.Us.c*
do
51
1 1931
Jan
1907
1915
0%
do
do
1947
Bat
—
Pref (a & d)
Mch
do
1948
Collateral trust distribution mortgage gold
..Gz
Advance Rumely Co.—Debs $3,500,000 gsk fd call 102 J4-Common stock authorized $13,750,000
Aetna Explosives Co Inc—Oom. stock auth.
New Bonds Issuable Under Plan—
10,000,000 '17 $5.50
mailed
%
IX
1920,1
1
500
mortgage gold
500,000 See text
100
1898
Collateral trust
Checks
2,169,0007 in 1919
100
Where Interest and
Dividends are Payable
$3,500,000
$100
call 110 s fd 2% yearly
2d pref stock 7% cumulative
Adams Express—Stock, 120,000 shares (20,000 held by co)
Places
July ~l~i 920 IM
Q—J
Q-J
Q—M
*19
Bankers Trust Co, N
Bankers Trust Co, N
'
1941
Mar 15 '20,
1916
1,000
10.084,000)
5 g
M
&
S Mar 1 1946
1917
1.000
2,900.000
17,000,000
1,000,000
13,138,400
6 g
J
&
J July 1
5 S
M
&
S Mch
100
100
...
100
1912
Y
Y
3% New York
Harris, Forbes & Co
1922
do
1 1962
do
See text
Other bonds—see text.
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
p.
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 la owned
a
by American Stores Co.
See below.
V.
104,
p.
1491, 2120.
1st pref.
stock originally $2,750,000; has been reduced by sink, fund to $2,169,000 and
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. 103, p. 62; V. 106, p. 88.
No bonds or mortgage.
DIVIDENDS.—On 1st pref., Sept.l916to June 1 1920, incl., 7% per ann(1 M% quar.)
On 2d pref. Sept. 1916 to Dec. 1917. 7% per ann. (154%
quar.); none since to April 1919; in June 1919 paid 154%,
REPORT.—For calendar year 1919, V. 110, p. 1643:
1919.
1917.
1916.
1915.
1914.
•
Sahw
$26,671,157 $24,540,855 $18,314,737
Net profits.
1,424,595
816,736
No figures for 1918 available.
$15,049,645 $12,046,356
526,734
508,636
719,130
Pres., H. J. Moffett, Phila.—(V.
110, p. 1643.)
As of July
1 1918, at the behest of the U. S. Govt., all the company's
business and equipment in the U. S., together with a required amount
Express Co.
(which see) in return for stock in that company, amounting (net) in Aug.
1919 to $6,654,300. V. 109, p. 979.
On April 10 1919 the company reported total assets, as revalued, of
$30,983,641 (including at par said stock of Am. Ry. Express Co.), of which
the following amounts were under pledge, viz.: (a) For $7,824,000 collateral
bonds of 1948, $6,772,481; (5) for $9,738,000 collateral bonds of 1947,
$7,006,451; (c) for $5,187,996 of secured loans, $7,790,554.
This last
amount includes securities of Adams Express Bldg. Co., viz., $5,000,000
1st M. bonds, $3,400,000 incomes and $500,000 of the $1,000,000 stock
(all owned). V. 109, p. 979.
The American Railway Express Co. has proved very unprofitable, but
the Federal authorities give no guaranty of income other than the agreement
to provide for the operating deficit so long as the U.S. Govt, retains
operat¬
ing control of the railroads.
The foreign express and money order business
were also sold in 1918, leaving the
company merely a holding association.
In a proclamation issued on Dec. 24 1919 Pres. Wilson fixed Mar. 1 1920
express
of working capital, was turned over to the American Railway
the date for the termination of Government control of the express cos.
V. 109. p.
2405.
Reported in Fob. 1920 that the Adams Express Bldg. at 61 Broadway,
N. Y., had been sold.
V. 110, p. 765.
CASH DIVS., &c.—
{1908
1909-13
1914
1915
Since 1907
.1 $8
12 yriy.
$5 50
$4
In 1918 dividends were suspended. V. 106, p. 930,
1916
$6
—
Operating
Loss.
Year- Receipts.
$
♦V'
None
Other
Income.
Int., tfec.
Charges.
$
$
1917
1918
$550
none
2346.
REPORT.—For "x" 18 months to June 30 1918 and
ended April 10 1919. in V. 109, p. 979.
Gross
"y" 9 1-3 months
Dividends
Balance,
Surplus.
Paid.
$
$
None
1,275,949
721,594
None
554,355
"x" 41,957,279 8,627,189 2,889,749 2,280,976
See below def.8,018,416
1917.63,730,035 3,137,187 2,308.709 1,056,064 (5^)550,000 def.2,434,543
1916.45.893,923 cr79S,925 2,054,113 1,014,553
(6)600,000 sur.l,238.485
Profit and loss deficit April 10 1919. $7,298,275.
Pres., Wm. M. Bar¬
rett.—(V. 110, p. 79, 765.)
ADVANCE
+
RUMELY CO.—ORGANIZATION.—Incon?-
in
Mich., and
Toronto.
Products, agricultural implements such as threshers, plowing
engines, &c.—(V. 102, p. 1626; V. 104, p. 1486; V. 106, p. 1575; V. 107, p.
ZloVi*)
STIv. &
DEBEN.—(a) $13,750,000
com.
stk., par $100; (6) $12,-
600.000 6% pref. (p. & d.) stock
cum. after Jan. 1 1919. and callable any
105 and d vs., par $100;
(c) $3,500,000 10-year 6% sinking fund
debentures (callable 102 H and Int.) protected
by provisions of trust deed
and a sinking fund of $100,000
time at
thereafter.
To Jan. 1 1920
yearly for first 5 years and $200,000 per ann.
$2,538,000 debentures had been retired, leaving
$962,000 outstanding.
Preferred Dividends.—No. 1,
\y2%
paid April 1
154% quar.
REPORT.—For cal. year 1919, in
_
'
„
Net
income
Preferred dividends.
-
Balance, surplus
V.
110, p.
1919; to July
1918.
$4,954,638
5,382.150
2,401.907
(6 %)748,506
1,653,401
1920.
3,393.704
1.188,929
1.188,929
~550"557
and
Ser
•
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,
^91
an
100, p. 1594, 2012.
P
Claims settled, V. 110,
advertisement in Jan. 1920 denying that any of its properties were
for sale the company said: "Aetna Explosives Co., Inc., is
working with
unshaken determination to play the same big part in these days of recon¬
struction as it did during the days of war.
Seven plants and many branches
devoting the skill and knowledge gained during that struggle to the big
job of peace-time needs.
This organization is trained to meet the require¬
ments of both the large and the small
user
of explosives."
V. 108, p.
2331; V. 108, p. 173, 271; V. 110, p. 79.
In April 1917 ex-Gov. Benjamin B. Odell and ex-Federal
Judge George
are
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
plan in V. 108, p. 2243, J. & W. Seligman & Co. acting as Reorganization
Managers.
NEW
SECURITIES.—Under the
remain undisturbed.
for each $100 share,
aforesaid
plan
the
common
shares
The holders of the $5,322.650 pref. stock were offered
$20 75 in cash and $75 In new 6% series B bonds, due
198
CO.,
INC.—ORGANIZATION.—Incorp. in N.
Y.
3,000 automobile tires. V. 109, p. 1275; V. 110, p. 168.
In Dec. 1918 $1,000,000 of stock having been underwritten was offered
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.
On June 30 1919 notes and bills payable aggregated $2,900,000. 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.
No funded debt June 30 1919.
Div. Mar. 1916 to Mar. 1917, 10% p. a.;
June 1917 to June 1920, 3% quar. (12% p. a.).
to shareholders at
EARNINGS.—Cal. year 1919,
Total
Years.
Sales.
1919
$22,189,001
19,297,721
13,828,282
1918-
V.
Net
110, p. 659.
Fed'l Taxes
Dividends
Balance,
(Est.)
Paid.
Surplus.
Profits.
$2,951,267
2,915,368
1,955,293
...»
$750,000 (12)«1,032,627$1168,640
1,700,000
(12)852,000
363,368
495.000
830,700
629,593
OFFICERS.—Horace De Lisser (President & Chairman), Louis P.
Dastribats, Fred E. Dayton, L. T. Vance, Wm. McMahon and J. C. Wes¬
ton (V.-Pres'ts), W. J. Jackson (Sec.) and Stuart Webster (Treas.).
N. Y.
office, 220 West 57th St.—(V. 110, p. 659, 872, 1974, 2i94.)
110, p. 79, 659, 1528.)
ALABAMA POWER CO.—ORGANIZATION, -fee.—Incorporated Id
1906 in Ala. and serves directly and Indirectly the major part of 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
105,000 h.p., incl. 35,000 h.p. now installed; (d) hydro-electric development
of 2,000 h.p. at Jackson Shoals; (e) 900 miles of steel-tower transmission
lines to Birmingham, &c.; (/) largely through subsidiary companies, hydro¬
electric possibilities aggregating many thousand horse-power.
STOCK.—$18,751,000, all owned t>y Ala. Trac.. Lt. & P. Co..which
see.
BONDS.—Of the authorized issue of $100,000,000 1st M. 5% bonds of
the Alabama Power Co., $14,328,000 in April 1920 had been certified by
the trustee, of which $10,084,000 is in the hands of the public, $4,028,000
to
secure
outstanding notes of 1917 and $216,000
See V. 102, p. 1250; V. 104, p. 2344; V. 108, p. 68.
Notes.—The notes of 1917
are
callable
in
are
the
weeks* notice at 101H and
on four
lot prior to July I 1918: then at 101 M to July 1 1919 at 101 and int. tc
July 1 1920, at 100*4 to July 1 1921 and 10014 and int. thereafter.
The?
secured by $2,639,000 of the First Mtge. 5% bonds.
The authorized
issue is $5,000,000, outstanding $1,900,000, and the remaining notes may
only be issued as additional First Mtge. bonds are pledged in the foregoing
ratio. See V. 105, p. 390.
are
Bailentine,
V.-P.:
J
Abrams,
V.-P.;
J. R.
Kohne,
Treas
Directors: Finley P. Mount, W. E
Taylor and Maurice Fox, La Po*te,'
Ind.; Frank N. B. Close and C. McK. Lewis, N. Y. City: Stephen S. Strattan and C. Edgar Elliott, Chicago; John W. O'Leary and Lucius Teter of
Chicago; Howard Coonley, Boston; R. G. Hutchins Jr.
Office, La Porte,
ind.—(V. 108, p. 2630; V. 110, p. 1411, 1437.)
In
RUBBER
in Sandusky, O., to be in operation by Nov. 1 1920. employing 2,500 work¬
men in Sandusky, O., at cost of $750,000, and
having a daily output of
treasury
$2,101,832
2,419,226
550,575
I.
AETNA EXPLOSIVES CO.,
AJAX
Dec. 20 1915, succeeding Ajax-Grieb Rubber Co., Trenton, N. J., estab¬
lished Sept. 11 1906. V. 101, p. 2073, 2146.
In Sept. 1919 owned plants
in Trenton, N. J., and Racine, Wis., and decided to locate a third plant
pledged
1917.
$3,073,877
OFFICERS—Finley P. Mount, Pres.; A. H. Berger, V.-P.
W.
1
1411, 1437, showed:
1919.
Gross profits from operations
Total income from all sources
$3,613,773 for the calendar year 1917 and $1,797,596 in the three
ended July 31 1918); deducting for settlement of claims, &c..
$1,606,666, losses by explosions of $1,132,274 and improvements of $316,»
030, left net, before Federal taxes, of $3,773,185.
Balance sheet Dec. 31 1919 showed: Funded debt, $4,386,525; notes and
accounts payable, $1,511,094.
Current assets: Accts. receivable, $1,171,343; cash, $1,276,035; inventories, $2,284,048.
Directors.—G. C. Holt, B. B. Odell, Sol Wexler, S. M. Schatzkin, 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. 110, p. 79, 872, 1291.)
months
ALABAMA COMPANY.—(V.
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,
CAP.
197
REPORT.—Receiver's report for year ended July 31 1918 was cited i»
V. 107, p. 1482,1834 ihowing profits amounting to $6,828,155 (compared
Cal.
$
'
1 1941, bearing interest from Jan. 1 1919; on Nov. 21 1919 about
$5,055,550 had assented.
The holders of the $2,224,000 1st M. 6s of 1914
were entitled to receive for each $1,000
bond either (a) $850 and int. in
cash 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.
Series A bonds, limited to the amount exchanged for
old bonds, par for par, have a prior right as to principal and interest under
the mortgage, and, while duo Jan. 1 1931k l-12th of the series is to be paid
annually beginning with year ending July 1 1920, Series 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" bond* shall be callable
by the company (by Jot if less than all) on any interest date at par and
accrued interest.
After all of the Series
A" bonds shall have been retired,
any part or all of the Series "B" bonds shall be likewise callable by the
company at par and interest.
V. 109, p. 1793.
030, left net before Federal taxes od $3,773,185.
with
ADAMS EXPRESS.—ORGANIZATION.—An unincorporated associa¬
tion formed in 1854. V. 100, p. 289. 371; V. 104, p. 2120.
as
Jan.
Jan.
EARNINGS.—
1 -Mar. 31-
-Jan
1919
1919.
1920
1-Dec. 31
1918.
Gross
$3,105,582
$3,019,730
$956,788
Net
1,736.945
1,572.249
541,502
Chairman, James Mitchell; Pres., Thos. W. Martin, 120
N. Y.—(V. 110. p. 1090, 1186.)
$725,193
419,269
Broadway,
ALABAMA 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.
Also owned, Dec. 31 1918, $500,000 com. ano
$1,500,000 2d pref. stock of United Gas & Electric Corporation.
V. 94
p. 628. 981, 1696: V. 101. p. 283.
See Alabama Power Co. above.
STOCK.—Pref. dividends in
BONDS.—V.
106,
p.
2556
arrears
Dec.
V. 99. p. 1053
31
1918, $240,000.
V. 101, p. 283, 775.
REPORT.—Report for
year 1918, in V. 109, p. 68, showed:
Gross.
Net Income. *Int.Chgs. Disc.Amor.Depr.Tax. Bal.su
$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
1916
1,471,433
880,604
794,896
85708
♦After deducting $26,414 in 1918 and $63,653 in 1917 and 1916
charge¬
able to capital account.
All Co's—
DIRECTORS.—James Mitchell, Pres., New York; Lawrence MacFarlane, K.C., V.-Pres., Montreal; E. Mackay Edgar, London, and William
Henderson, Sec.-Treas., Montreal, 34 Commercial Union Bldg., Mon¬
J.
treal.
President's office,
120 Broadway, N. Y.—(V. 109.
p.
68, 1081.)
MAY, 1920.]
INDUSTRIAL
MISCELLANEOUS
[For abbreviations, &c.,
COMPANIES
see notes on
STOCKS
AND
BONDS
Date
Par
Amount
Rate
When
Bonds
first page]
Value
Outstanding
%
Payable
Alaska Gold Mines—Stock authorized $10,000,000—
Debens Ser A g conv red 110 beg 1918 text
G.yc*
do
Ser B $1,500,000 g conv red 110 beg 1919
Gyc*
Alaska Gastlneau Mining Co (sub co)—
Capital stock portion held by public
1st Mtge bonds portion held by public
Alzoma Steel Corporation—See Lake Superior Corp.
All America Cables, Inc—Stock auth $25,000,000
Allied Oil Corp—-Capital stock $12,500,000
Allied Packers, Inc—-Common stock 450,000 shares
$10
141
Last Dividend
and
Places
Maturity
Where Interest avQ
Dividends
Payable
are
$7,500,060
1915
100 &c
1916
100 Ac
6 g
6 g
M
&
M
&
S Mar 1 1925
S Mar 1 1926
\
No coupons paid
since Sept. 1917
j
__
1911
6 g
None
•100
stock authorized $25.000,000
Convertible debs auth $25,000,000 call 110
Serial notes—see text
xxx.c*EQ
s
f 2%
c
1919
1911
Feb
See text
Q—J
Q—J
Text
New
1 1931
Apr 141920,1^ 89 Broad St,
New}York
Jan 15 1920 2% Checks
mailed
gjg a&l
New
Preferred
Matthews-Blackwell, Ltd, First M call 105
See text
100
$1
1,000
1,000 &c
6
J
&
6
J
&
J July 1 1939
D Dec
1 1931
Allis-Chalmers Manufacturing Co—Common stock
Preferred stock (a & d) cum (see text) red 110—
Bullock (The) Elec Mfg 1st M $9216.000 auth
Amalgamated Sugar Co—Common stock $25,000,000
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
First mtge bonds conv $12,000,000 red 103... .Col.xc*&r*
Debentures $15,000,000 convgred 101 begFeb'19Gyc*&r*
100
1914
111
See text
100 Sec
10
100
'IS
Q—J
J
&
Apr 15 '20, 1%
J Jan
1 1934
) 6 In 1919
)
5
A
&
o Oct
1 1928
)
1,000 &c
100 &c
5 g
F
&
A Feb
1 1924
_____
EARNINGS.-
Calendar Years—
1919.
$1,474,491
def.278,628
5,231
225,060
311,522
Mining profit
Other income
Interest.
Depreciation
_
1918.
$1,136,223
def.96,944
deb. 19,621
219,685
311,724
1917.
$2,009,632
285,158
12,071
228,552
312,996
1916.
$1,837,291
293,383
37,198
217,747
Balance, sur. or def__def.$809,979def.$647,974def.$270,722sur.$l 12,834
OFFICERS.—Pres., Charles Hayden; V.-P., D. C. Jackling; 2d V.-P.,
Dillon; Sec., K. R. Babbitt; Treas., C. W. Peters; Man. Director,
B. L. Thane.—(V. 110, p. 872, 1750.)
J. R.
ALL AMERICA CABLES, INC.—Formerly known as Central & South
American Telegraph Co.
Present name adopted Feb. 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 Coatzacoalcos,
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 Burnos 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).
STOCK.—The stockholders voted Feb. 11 1919 to increase the authorized
limit of capital stock from $14,000,000 to
$25,000,000, to provide, when and
as required, for extensions and
ion
acquisitions and distributio to stockholders
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. & South Amer.
Tel. Co. to $22,991,400, or,
deducting the $953,100 thereof osned by Mexi¬
can Telegraph Co., to
$22,038,300; in Feb. 1920 all but $84,200 had been
exchanged.
V. 109, p. 1082, 1369.
DIVS.
| '85. '86. *87.'88-'96. '97. *98-T'5.
1916.
'17. '18. 1919-20.
%\
4
4
6
7 y'ly. 6X 6 y'ly. 6&3 ex. 6
6
Text.
stock.—1890, 20%; 1907, 25%; 1917, Jan., 1X%; April 1, 46% in
stock, increasing amount outstanding to $13,991,400.
July 1917 to April 1919, cash, 1X% quar.; July and Oct. 1919 and Jan.
and April 1920, 1 %%.
REPORT.—For 11 months 1919, V. 110, p. 1090:
Cal. Year—
Total Inc.
Net Income. War Tax.
Dividends.
Bal.,Sur.
1919 (11 mo.) $4,112,156 $3,660,284
$990,000 (6%)$822,172 $1,848,112
1918 (year)— 4,584,888
2,991,194
1,390,567
6%) 839,484
761,143
1917 (year)- 4,273,397
3.217,748
653,783 vu-/0, 773,172
6%)
x,.
1,790,793
Total estimated profit and loss
surplus Nov. 30 1919, $3,992,152.
Chairman, W. Emlen Roosevelt; Pres., John L. Merrill; Treas., W. H.
Coade; Sec., Henry de la Montagne Jr.
Office, 89 Broad, St., N. Y.—
—fv. 109, p. 1082, 1369; V. 110, p. 1090, 1417.)
Earnings for 3 months ended March 31 1920 (partly estimated): Gross,
$1,547,000; net, $1,054,150; other income, $176,500; dividends, $401,059;
war taxes 1919, $300,000;
replacements, &c., $176,642; surplus, $352,949.
V. 110, p. 1643.
Cash
In
ALLIED OIL
aware
in 1917.
CORPORATION.—ORGANIZATION.—Incorp. in Del¬
Company
the entire outstanding capital stock of: (a)
Consumers Gas & Fuel Co. of Texas; (6) Central Power &
Light Co. of
Texas; (c) Dalsa Oil Co. of Texas; (d) San Jacinto Petroleum
Corp. of Del.;
owns
and
(e) j^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
(g) half of the capital stock of Okla-Paragon Pipe Line Corp. of Delaware.
Through its subsidiaries the company owns about 98,113 X 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.
Has 7 producing wells in the Ranger and Burkburnett fields,
with a potential production of 6,000 bbls. per
day, and upon completion of
wells now drilling oil production should reach 15,000 bbls
daily.
DIVIDENDS.—Dividends were paid at the rate of 12% p. a.
(3% quar.)
during 1919; Jan. 1920, 2%.
Pres., S. A. Taylor, Pittsburgh.—(V. 109, p.
1181, 1368; V. 110, p. 168.)
ALLIED
PACKERS.
INC.—ORGANIZATION.—Incorp. in Dela
June 6 1919, acquired through the purchase of the
capital stock or the phys¬
ical
properties, the assets and business of various packing cos., viz.: Parker,
Co., Detroit; Klinck Packing Co., Buffalo; F. Schenck & Sons,
Wheeling, W. Va., Matthews-Blackwell., Ltd., Toronto; W. S. Forbes &;
Co., Richmond, Va.; Macon Packing Co., Macon, Ga.; Batchelder &
Snyder, Boston. V. 108, p. 2434, 2630; V. 109, p. 74, 174.
The Canadian Packing Co., Ltd., a
subsidiary, was incorp. in June 1919
and will operate the five
plants of the Matthews-Blackwell, Ltd., The
Allied Packers owns a majority of the
capital stock. V. 109, p. 774, 478.
CAPITAL STOCK.—Auth.,
common, 450,000 shares, no par value;
pref., $25,000,000; outstanding, common, 200,000 shares;
pref., $5,616,000.
Webb &
Sufficient of the common is reserved for the conversion
of the debenture bds.
BONDS.—The debenture bonds are callable at 110 and int. on
any int.
date on 60 days' notice.
Convertible into common stock at the rate of
13 shares of stock for each $1,000 bonds.
Authorized, $25,000,000, bal¬
ance issuable under certain careful
restrictions.
Annual sinking fund be¬
ginning Dec. 31 1921, 2% of all bonds at any time issued.
Bonds converted
are credited against the
sinking fund obligation.
See V. 109, p. 74.
There were $4,200,000 serial notes issued
part purchase price of certain
of the acquired plants.
V. 109, p. 74.
In April 1919 cash had been pro¬
vided for the redemption of the Matthews-Blackwell bonds.
Pres., John A. Hawkinson; V.-P., F. S. Snyder.—(V. 110, p. 79, 466,
1090, 1189.)
ALGOMA
below and V.
First
Trust"
Co.,
Milw
Apr 1 1918, 3% Go's office, Ogden,*Utah
Nov 1 1919,2% Bankers Trust
Q—F
Co.INjjY
Q—J15 Apr 15 1920, 2 Checks mailed
Q—J15 Apr 15 '20. IX
do
do
8
)6X in'19
100
1908
1914
in
6
I
100
ALASKA GOLD MINES CO.—ORGANIZATION, &c.—Incorporated
in Maine Aug. 26 1912.
Owns over 95% of the $12,000,000 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-graae free-milling gold deposit near
Juneau and a mill cap. 8,000 tons per day. V. 102,
p. 1633; V. 100, p. 1175.
DEBENTURES.—The
10-year 6%
debentures, Series "A,
dated
March 1 1915, as also Series "B," dated Feb. 1
1916, are convertible into
stock at $30 per 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.
Notes payable Dec. 31 1918, $400,000.
Owing to lack of available funds the coupon due March 1 1918 to March
1 1919 on the A and B bonds were not paid at
maturity. V. 106, p. 930.
Ore Milled (Tons)-(V. 109, p.
1793)—
1919.
1918.
1917.
Month of October.
206,200
75,870
191,610
10 months to Oct. 31
1,765.320
1,073,744
1,899.257
value
and" "Toronto
100
yFor small amounts in treasury, see text.
Product
Montreal
.
Columbia Tr Co,NY & Bos
Guar Tr Co, NY4 Bos
STEEL
CORPORATION.—See Lake Superior Corporation
110, p. 872.
ALLIS-CHALMERS MANUFACTURING CO.—ORGANIZATION
Incorporated in Delaware on Mar. 15 1913 as successor of the Allis-ChalCo. (foreclosed) per plan V. 94, p. 913,with new cash working
capital.
Manufactures heavy engines, mining and other machinery.
V. 94, p. 913.
Has no bonded debt.
Dec. 31 1919 owned $925,300 Bullock Elec. Mfg.
Co. bonds out of $936,000.
V. 102, p. 1724.
Peace products, V. 107, p.
1748.
mers
STOCK.—The pref. stock Is pref. both p. & d., cum. from Jan. 1 191 3
5% per annum; from Jan. 1 1915 at 6%, and from Jan. 1 1917 at 7% ,
but entitled to 7% from beginning If earned and declared.
It may elect
a majority of the directors and is redeemable at 110 and diva.
Of the Issued
stock as in table above the treasury held Dec. 31 1919 $229,250 common
at
and
$316,600 pref.
V. 102, p. 1724.
V. 106, p. 1128.
lien while any pref. stock remains outstanding, unless 80%
v. t. c. consents.
PREF. DIVIDENDS.—
1916.
1917.
1918.
1919.
1920.
Regular
6
6%
7
7
1^,1^,
No mortgage
of pref.
On accumulations
3
3%
3
4
In Jan. 1920 the accumulated preferred dividends were
with a payment of .1 % %.
In Aug. 1918 the management
1%
paid off in full
proposed to pay
dividends on common stock "so long as we have to save for taxes."
V.
107, p. 605; V. 108, p. 975, 2331; V. 109, p. 982.
REPORT.—For year 1919, in V. 110, p. 1637, showed:
Sales
Total Fed.,&c..Tax. Preferred
Balance,
Calendar
Billed.
Net.
& Contxng.
Dividends.
Sur. or Def.
Year—
$
$
$
$
$
1919
30,224,083 5,967,713 2,368,000 (11)1,780,174 sur.1,819,539
1918
35,031,234 9,754,749 5,128,882 (10)1,619,423 sur.3,006,444
1917
26,129,317 5,308,790 1.298,300 (10)1.618,375 sur.2,392,116
1916
19,440.509 3,165,020
(9)1,426,455 sur.1,738,565
1915
11,666,413 1,078.352
(3)475,485 sur.
602,867
Sales
Billed
Net Profit
Month of—
1920.
1919.
1920.
1919.
January
$1,867,691
$2,755,437
x$218,520
$330,842
February
2,161,692
2,802,945
x270,320
338,348
March
2,291,215
3,044,510
x278,375
326,835
no
______
Total quarter
$6,320,598
$8,602,892
Net profits are shown after deducting all expenses,
taxes.
Unfilled orders on hand March 31
x
Federal
$767,215
$996,025
including reserve for
1920, $19,442,791,
against $17,921,117 as of March 31 1919.
Unfilled orders April 1 1920, $19,500,000.
DIRECTORS.—J. H. McClement, Fred Vogel Jr. (Chairman ExecComm.), Otto H. Falk (Pres.), Oliver C. Fuller, Charles F. Pfister and
Albright, of Milwaukee; Wm. T. Abbott, Max Pam and F. O. Wetmore, of Chicago; J. D. Mortimer, Arthur W. Butler, Charles W.
Cox,
Oscar L. Gubelman, R. G. Hutchins Jr., Arthur
Coppell and Charles Hay¬
den, of New York, and James P. Winchester, of Wilmington, Del.
Office,
Milwaukee.—(V. 110, p. 659, 1637, 1644, 1860.)
C. E.
ALUMINUM
CO.
OF AMERICA.—V. 108, p. 880; V. 109, 1988.
AMALGAMATED
SUGAR CO.—ORGANIZATION.—Incorp.
Utah.
Owns eight beet sugar plants at Ogden, Brigham
Jan.
1915 in
City,
Logan, Lewiston and Smithfield, Utah, and Burley, Twin Falls and Paul,
Idaho.
V. 107. p. 804.
CAPITALIZATION.—Common stock auth., $25,000,000; issued
Aug.
1919, $6,824,400; Pref. stock, $5,000,000, all issued to retire old
pref. and
1st M.
convertible
bonds,
and provide additional
working
capital.
109, p. 2173.
V.
|
EARNINGS.—The average annual net income after all
taxes, including
Federal taxes, for the five years ended Feb. 28 1919 available for dividends
was $1,485,000.
For the last three years of this period the average annual
amount available for divs. was $1,608,000.
The amount required to pay
dividends on the $5,000,000 Pref. stock is, $400,000
per annum.
Years Feb. 28.
1915.
1916.
1917.
1918.
1919.
Production(lbs.)81,727,500 91,187,600 92,451,600 93,987,900 112.326,700
Vice-Pres. David C. Eccles, Ogden, Utah.—(V. 109,
p. 272, 678.)
AMERICAN AGRICULTURAL CHEMICAL CO.—ORGANIZATION.
—Incorp. in April 1899 in Connecticut under special charter.
V. 68,
p. 974. and V. 72, p. 672; V. 73. p. 664; V. 75, p. 241, 292.440; V. 77.
p. 399;
V. 83. p. 1230; V. 84. p. 272; V. 87. p. 874; V. 92. p.
324; V. 93. p. 1669;
V. 94, p. 209; V. 98, p. 525.
See V. 71, p. 640.
Good-will, patents,
trade-marks, &c., carried at $1.
V. 103, p. 754.
Status and outlook in
Jan. 1919, V. 108, p. 173.
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.
Subscriptions were payable either in full on Nov. 29
or 50%, then ana 50% Apr. 21 1919.
This issue (underwritten) provided
funds for the reduction of the "notes payable" (which on Oct. 4 1918
aggre-
gated $17,682,500, due largely to heavy common stock in connection with
ig capital, and raising the outstanding inventory), thus increasingworkthe conversion of bonds to $31,655,200 June 30 1919.
V.
108,
p.
V. 107, p. 1838.
1062.
BONDS.—The
1st
M. bonds
($12,000,000 auth.) are convertible into
pref. stock at par.
Sinking fund, 3X% annually of all bonds issued;
retired by sinking fund to April 1920, $3,772,000, conv. into pref. stock,
$1,201,000.
V. 87, p. 741, 814, 874; V. 92, p. 264, 324.
The debs. ($15,000,000 auth.) are conv. into com. stock at par; of the
$9,100,000 issued $4,063,500 had to April 1920 been so converted.
No
additional mtge. can be placed on the property while boDds remain out.
V. 98, p. 525; V. 100, p. 1512.
Notes payable at June 30 1919, $12,887,500
(excluding $2,030,000 secured by U. S. obligations), against $17,020,000
June 30 1918.
Common Dividends (Rate %).
Jan.T2-July'16.
Oct.T6-July'17.
Oet.T7-JulyT8.
Oct.T8-Apr.'20.
4% p.a.(l%qu.) 5% p.a.(lM%QU.) (6% p.a.(l^%qu.) 8% p.a.(2%qu.)
REPORT.—Report for year end. June 30 1919 in V. 109, p. 885:
June 30 Yeors—
1918-19.
1917-18.
1916-17.
1915-16.
$8,206,128 $11,377,108
$8,709,216
$8,D4,828
$784,785
$876,404
$884,680
$883,392
Deprec'n, freights, &c__
3,262,673
2,455,725
2,278,180
1.845,908
Total income
Bond interest
Bonus to employees
Preferred divs. (6%)___
1,659,896
1,658,487
210,264
1,655,067
Common dividends__(7Hil,813,125
(6)1,059,777
(5)876,468
1,653,492
(4)737,237
$5,326,715
$2,805,567
$3,054,799
Surplus
$685,649
Date
Par
Amount
Rate
first page]
Value
Outstanding
%
American Bank Note Company—Com stock $5,000,000Preferred (a & d) 6% cum 15,000,000
American Beet Sugar—Common stock
Preferred (a & d) stock 6% non-cum $5.000.000
Amer Bosch Magneto Corp—Stock 100,000 shares
Serial gold 7% notes
Payable
50
100
100
f beg May '14-Ba.xc*
American Car & Foundry—Common stock $30,000,000—-0
Preferred (a & d) stock non-cum $30,000,000
(1
(closed) due $300,000 yrly
Baxxxc*
V.106, p. 2344 zz
1,000
19l3
500
100
100
100
1,000
1909
500 &e
B. Bradley (Pres.),
(V.-P.), Geo. C. Bingham A. B. Hep¬
CO.—ORGANIZATION.—Incorporated in
plan V. 81, p. 1851.
Has plant in Bronx and office
In Oct. 1919 sold the old plant
N. Y. Feb. 20 1906 as United Bank Note Corp., per
714.
859.
1793.
3)4
6
5
4 yearly
2
6(1>4Q.-J.)
4
2
of 80% of each class.
1917.
To May 1920
6
REPORT.—Year 1919, V. 110, p. 1083:
Year—
1919
1918—.
1917
1916
*
After
Balance,
Surplus.
Common
Profitsiafler Int. A
Pension P.
Depr.,Ac.) Disc., Ac. Fd„Ac. (6t_
Calendar
Dividends.
$1,771,893$117,228$204,314 $269,739(6%)$269,742*$647,778
1,217,221
32,343 130,810
269,739(6%) 269,742 514,587
824,064
34,134
55,877
269,739 (6%)269.742
194,572
976.135
51,128
78,203
269,739 (4%) 179,828 397,237
deducting exchange losses and reserve, $238,092; alterations and
Charles L. Lee.
110, p. 1083.)
BEET SUGAR CO.—Incorp. March 24 1899.—(V. 68,
Pres., D, E. Woodhull; Sec., Geo. H. Danforth; Treas.,
Office, 70 Broad St., N. Y.—(V. 109, p. 678, 780,1793; V.
p.
AMERICAN
280, 616; V. 88, p. 1250; V. 102. p.
DIV'DS.—
{'99-'00. '11. '12.
Common—
715, 1809.)
{13-'15. 1916. 1917. 1918. 1919. 1920.
%\
Nil
Nil
5
IX
AX
7X
8
See
8
I
—
12
__
text
Preferred— % (Oct. 1 '99 to Apr. 11920, incl., 6% p. a. (1)4% 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.
V. 110, p. 168.
do
extra %
—
__
REPORT.—For year ending March 31 1920, in V. 110, p. 2071, showed:
1919-20.
1918-19.
1917-18.
1916-17. I
$13,575,403
$7,471,383 $12,584,367 $14,971,116
$2,425,810
$1,200,739
$3,135,188
$6,126,677
Preferred divs. (6%)-—
300,000
300,000
300.000
300,000
Common dividends— (8%)1,200,000 (8)1.200,000 (8)1,200,000(20)3000,000
Deprec'n, additions, &c.
573,945
1,571,930
Gross sugar sales—
Net income
Balance, surplus
$351,865 def$299,261
$1,635,188
Pres., H. Rieman Duval; Sec. & Treas., Charles O. Duprat,
St., N. V.—(V. 110, p. 16$, 2071.)
$1,254,747
32 Nassau
BOSCH
MAONETO
TION.—Incorp. in N. Y. Jan. 9 1919, and acquired the assets
character of the Bosch Magneto Co. of N. Y. City (previously
San.. $2; April, $2.50.
printed in V. 108, p. 2042.
REPORT.—
1919(11 mos.) 1917-18.
1916-17.
1915-17. 1914-15.
$5,398,867 $3,815,786 $4,539,508 $4,009,022 $4,617,059
670,547
478,864
806,646
1,554,600
Federal taxes in first quarter of 1920,
About 100,000 magnetos were
turned out in the quarter.
Unfilled orders Feb. 1 totaled $7,000,000
OFFICERS.—Arthur T. Murray, Pres.; George A. MacDonald, V.-Pres.
& Treas.: Arthur II. D. Altree and Leon W. Rosenthal, V.-Presidents;
John A. MacMartin, Sec.
(V. 110, p. 263, 360, 872.)
Net profits,
1,648,376
Company earned $477,483 before
of which $200,038 was
earned in March.
AMERICAN BRAKE SHOE & FOUNDRY CO.—ORGAN.—Incorp. in
1916.
V. 74,
N. J. on Jan. 29 1902.
Reincorp. In Delaware, effective Oct. 1
Official data V. 103, p. 2427; V. 100, p. 558, 2012. A consolidation,
p. 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¬
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. Erection
plant at Newark, N. J., V. 110, p. 1291.
Amer. Brake Shoe & Fdry.
of California., V. 110, p. 1291.
During 1919 acquired the Southern
Foundry & Machine Co., Chattanooga, Tenn.
(V. 110, p. 1291.)
castings.
of
Co.
*08, *09. T0-T2. '13-T5. '16. *17. '18.
AX
5
7 yrly. 7 yrly. 7
7
7
7 yearly
8 yrly. 8
8
8
Extra on preferred stock, in cash
2
4
4
In Liberty bonds
—
5
LATE DIVS.
Common
%—
1907.
5
Preferred %--
In
1920
'19.
7
11
1
1920.
See
text
--
(on pref.), March 31, 3%.
Pref. is entitled to all earnings
after 7% on common.
BONDS.—Drawn $20,000 yearly till Mar. 1
REPORT.—For year ended
Dec. 31 1919.
V. 95, p. 1609.
1922 at 105, then at par.
V. 110, p. 1291.
Bond Cont.,&c. Preferred
Com.Div.
Income. Int., etc. Reserve. Dividend. (7% p.a.)
Total Net
Balancei
Surplus.
$
S
$
$
y569.474 (12)592,584 311,689 1,169,388
150,000 (15)750,000 402.500
987.337
1916-17 year—.3,260,694 28,452 400,000 (18)898.158 321,531 1,612.553
1915-16 year
1,661,619 34,312
(8) 400,000 322,000
905,307
x Figures include subsidiaries,
y Includes $419,474 reserve for Federal
$
$
1919 (cal. yr.)_x2,758,336 110,290
15 months 1918.x2,324,884 35,047
taxes.
OFFICERS.—Chairman, Otia H. Cutler; Pres., J. B. Terbell; VicePresidents, James S. Thompson, William S. McGowan, Clifton D. Pettis
Bankers
N Y
Trust Co,
Guaranty Trust Co, N Y
1 H%
do
do
1525, 2194.)
Judd,
2435;
♦
AMERICAN BRASS CO.—(V. 110, p. 360, 558, 1750.)
AMERICAN
&
BRITISH MFG. CORP.—(V. 109, p. 74,
1080,1462.)
AMERICAN CAN CO.—ORGANIZATION.—Incorp. in New Jersey on
See V. 72, p. 582.
March 19 1901 as a consolidation of about 100 conceras.
In 1916 operated about 50 can factories and two machine
shops.
See V. 84.
completed
p. 994: V. 90, p. 371, 629; V. 96, p. 1841.
In 1907 plants were
in New1 Orleans. La.. Savannah, Ga., and New Castle, Pa., and in 1918-19
In Newark, N. J., and Oakland, Calif.
A $300,000 building is being erected
The Sanitary Can Co., acquired in 1908, has been dis¬
85, p. 656; V. 86, p. 336, 422; V. 90, p. 504, 1230; V. 105, p.
106, p. 88; V. 86, p. 796.
Has arrangement 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.
Prices 1918-19, V. 106, p. 192, 608; V. 107, p. 84; V. 108, p. 81;
In May 1918 was charged by Federal Trade Commission with attempts .to
stifle competition.
V. 106, p. 1962.
Munition orders and outlook in
1918, V. 106, p. 2452; V. 107, p. 503, 907, 1386.
Liberty Ordnance Co.,
V. 107, p. 2190.
Settlement of munition contracts, V. 108, p. 2435; V.
Portland, Me.
solved.
V.
2367; V.
110, p. 655.
19.
1920.
7 IX,IX,-,(All paid in 1917)
On Dec. 20 1917 paid the final 3.7157% due for accumulations on the
preferred stock.
V. 105, p. 2186, 1421, 999, 907.
DIVS.1!
f '04-'12. *13. '14. '15. *16. *17.
5 y'ly
7
7
7
7
7
2AX
__
8.96
%\
Regular.
On
accumu
I
_
__
—
'18.
7
—
($15,000,000 auth.), of which $14,sold, are callable at 102>£; sinking fund, now $500,000 yearly.
421, 489, 1230; V 97, p. 1841.
In Dec. 1919 $10,791,500 re¬
DEBENTURES.—The debentures
000,000
V, 96,
were
p.
mained outstanding.
In April 1920 sold $12,000,000
REPORT.—Fiscal
year
short-term notes to First Nat. Bank, N.Y.
ends Dec. 31.
Report for 1919 in V. 110, p.
1917.
1918.
1919.
,
1916.
$11,728,758 $17,076,335 $21,995,042 $11,091,048
4,000.000
7,000,000
6,000,000
Depreciation
2,000,000
3,500,000
3,500,000
2,500,000
Interest on deb. bonds..
548,533
575,508
602,183 "
628,067
Pref. dividends—
(7)2,886,331
2,886,332
*6,583,185
2,886,331
Earnings
Res. for Federal taxes—
Balance, surplus
$2,293,894
$3,114,495
$5,309,674
* Includes
7% regular and 8.9657% back dividends.
$5,076,651
surplus Dec. 31 1919, $21,830,295.
Total profit and loss
(Pres.), H. W.
Phelps, F. Rudolph and J. R. Harbeck (V.-Ps.). R. H. Ismon (Sec.-Treas.),
W. H. Moore, Paul Moore, F. L. Hine, R. L. Skofield, Geo. G. McMurty,
K. S. Breckenridge, Chas. Stollberg and Henry R. Hoyt.
Office, 120
Broadway, N. Y.—(V. 109, p. 372, 889, 1988; V. 110, p. 655, 765.)
AMERICAN CANDY CO.—V. 109, p. 1610.
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. 83. p. 1413: V. 84. p. 1553Purchase of interest in Canadian Car & Foundry Co., V. 110, p. 563.
Orders on hand May 1 1919
about $100,000,000; 1918, $290,000,000.
f *03. '04. '05. '06. '07. '08.
DIVS.—
Additional working capital was secured by the sale of $1,800,0007%
Serial Gold Notes, maturing $600,000 annually.
In Dec., 1919, announced
that the notes due Jan. 15 1920 would be paid in accordance with their
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
Sales
Y
Checks mailed
DIRECTORS.—D. G. Reld (Chairman), F. S. Wheeler
CORPORATION—ORGANIZA¬
of every
German
owned), including a $20,000,000 plant at Chicopee, Mass., &c.
k
CAPITAL STOCK.—The stockholders votecf on Dec. u 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.
No time for issu¬
ing the remaining 15,000 shares was set.
V. 109. p. 1988,2358. V 109,
p. 1988.
Dividends 1919: April 11, $1.50; June 30, $1.50; Oct. 1, $2; 1920,
AMERICAN
V. 110, p. 1291,
PREF
renewals, $25,000.
t
St, N
do
Farmers' L & Tr Co, N Y
Treas., Henry C. Knox; Sec., George M.
Office, 30 Church St., N. Y.—(V. 108, p.
and Thomas Finigan;
Oomp., G. C. Ames.
at
KFSTOCK.—No Hen or new stock without assent
DIV8.
( '06. 1907-11.
'12.
'13. *14. '15. '16.
Gom_%\
Apr 1'20
30 Church
May 1 *20
1 % 19-25 W. 44th St., N.Y.
Q—F
do
do
Apr 1 '20 IX %
Q—J
3,000,000 6 in 1919
Bankers Trust Co, N Y
A
&
O Oct 1 '20-'27
6g
2,500,000
N Y Guar Tr Co
June 14 1929
J
&
D
2.106.500
6g
None
1919
0—J
7
30.000.000
See text 4 in 1919
100
burn, Charles B. Whittlesey, Samuel Carr, J. F. Kehoe.G. C.Lee, Marcellus E. Wheeler, F. L. Ames, Galea L. Stone, J. D. C. Bradley, G. C.
Clark Jr., T. D. Darlington and Philip Stockton, and Horace Bowker (Sec.).
N. Y. office, Rector St.—(V. 109, p. 1081.)
AMERICAN BANK NOTE
Checks mailed
See text
Apr 1 1920, IX Checks mailed
Apr 1 '20 $2.50 Mercan T & D Co, N Y
'
1902
(V.-P.), Thos. A. Doe (V.-P. & Treas.)
1794; V. 92. p. 1315, 1503; V. 96,
building at 70 Broad St.
V. 104, p.
on Trinity Place, N. Y.
V. 109, p.
May 15 '20. IX Checks mailed
do
do
Apr 1 1920, IX
Dec. 31 1919.
DIRECTORS.—Robert S. Bradley (Chmn.), Peter
Wm. Prescott (V.-P.), J. M. Glfford
Geo. B. Burton (V.-P.) W. J. Hiss
Dividends are Payable
See text
100
-
Ben Sen Chiclet Oo. sk.fd. bonds call 107 X
6
Q—F
Q—J
Q—F
Q—J
Q—M 30
Where Interest ano
Places
Dividend
and Maturity
Mar 31 '20, 1X
7
Q—M
4,452,700
Mar 31 '20, 3%
Q—M
4,938,200 See text
M
&
S Mar 1 1952
5 g
X343.000
41.233.3UU'
Apr 1 *20,1%%
Q—J
41.233,300
F
&
A Feb 1 1928
10,791.500
Apr 1 1920 3%
Q—J
30,000,00u 9 in 1 19
100
MH)
$3.000,000
An additional $269,000 held in treasury on
See text
1,000
due $600,000 yearly Jan 15
8
15,000,000
5.000,000
None
—
Debentures $15,000,000 g red 102 H s
Serial gold notes
$4,496,737 6 In 1919
4.496,737 6 in 1919
$50
American Brake Shoe & Foundry—Com stk $5,000,000 auth
Pre! (a & d) stk 7 % cum & partic $5,000,000 (see text) _.
First mortgage gold slinking fund redeemable (text)
x
American Can—Common stock $44,000,000 authorized__ —
Preferred (a & d) stock 7% cumulative $44.000.000
American Chicle—Stock common
Preferred (a & d) stock 6% cumulative
Last
When
Bonds
M1HCF.L.UANEO US COMPANIES
[For abbreviations, &c.t see notes on
x
[VOL. 110.
INDUSTRIAL STOCKS AND BONDS
142
On com_„%l
4
1
In 1920: Jan., 3%;
0
0
3
April, 3%.
3
*09to 15. '16.- '17. '18. '19.
2 yrly. 2
8
8
9
REPORT.—For year ending April 30 1919 was
1918-19.
1917-18.
in V. 108, p. 2625, 2639.
1916-17.
sources_$17,273,172 $16,461,823 $17,522,909
Net earnings—
$11,771,813 $11,281,742 $10,310,872
Preferred divs. (7%).— $2,100,000
$2,100,000
$2,100,000
Divs. on common (8%)2,400,000 (8)2.400,000(6^)1950000
Reserve for com. divs
2,400,000
2,400,000
2,250,000
Earns, from all
250,000
1,000,000
500,000
Balance, surplus
$2,631,742
$1,010,872
$2,100,000
(2)600,000
2,500.,000
Reserve for insurance
Profit and loss
1915-16.
$4,595,359
$2,816,018
500,000
3,000,000
$1,871,813
Spec. res. for employees.
Res've impts. & maint
1920
text
surplus.-$31,324,521 $29,452,707 $26,820,966
V. 107, p. 2009.
$116,018
$25,810,094
Status in Nov. 1918,
DIRECTORS.—William H. Woodin (Pres.), A. B. Hepburn, S. S. De
(Treas.), J. M. Buick (V.-P.), W. G. Oakman. H. Rieman Duval,
L. Hoyt, W. M. Hager (Asst. to Pres.), C. R. Woodin, W. O.
Dickerman (V.-P.), Chas. J. Hardy (Gen. Counsel), Hanson R. Duval and
John Sherman Hoyt.
Secretary is H. C. Wick.
N. Y. office, 165 Broad¬
way.—(V. 110, p. 563.)
La no
Gerald
AMERICAN CHICLE CO.—ORGANIZATION.—Incorp. In N. J. on
consolidated chewing gum interests (V. 71. p. 545); in
V. 90, p. 238; V. 68, p. 871,
160; V. 86, p. 230; V. 90. d. 238;
V. 99, p. 51, 122, 271, 409.
In Oct. 1916 Am. Chicle Co. of N. Y. took
over property of Sterling Gum Oo.
V. 103, p. 1594. 1890: V. 104. p. 258.
History of property, &c.. In 1917, V. 104, p. 1796.
War orders, 1918,
V. 107, p. 183, 698.
Additions to property, V. 110, p. 869.
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 X of their hold¬
June 2 1899 and
Aug. 1914 acquired Sen Sen Chiclet Co.
1130; V. 77. p. 197; V. 83. p. 152; V. 84, p.
ings as of May 6 1920: payment to be made as follows: (1) either
May 17 1920; or (2) 25% on May 17, 25% June 10, 25% June 30
in full on
and 25%
July 20.
In a letter to the stockholders it was
stated that it was the intention of
continue dividends at the present rate of $4 per share per
including the new issue.
The new capital is required to enable the company to adequately handle
the very great extension of its domestic and foreign business.
A new
factory at Long Island City is now nearing completion.
the company to
annum
on
all the Common stock,
DIVS.—
('01. '02. 1903-13. *14.
8
Common
Preferred
—
I
11
*15.
'16. T7-*18. Feb f 19 to May '20
18% yly. 20
11X
IX
Nil
1% quar. (Q-F)
6% yearly (1X% Q.-J.) to Apr. 1 1920
Date
Par
Amount
Bate
When
see notes on
American Clear Co—Common stock
Preferred stock 6% cumulative
first page]
Value
Outstanding
%
Payable
and Maturity
$100 $10,000,000 6 In 1919
100
10,000,000 6 In 1919
$10,000,000
—
American Cities Co—See "Electric Railway Section."
American Coal Co—Stock..
American Cotton Oil Co—Common Ptock
$20,237,100
(a <Sc d) stock 6% n-c sub to call 105 $14,562.300__
Bonds S15.0OO.00O authorized gold red 105
--~.Ce.xe*
100
100
Pref
-
Notes gold $10,000,000 call 102 $500,000 yearly
Cec
American Dist 1 el Co (of N J)—Stock $10,000,000 author..
1st M eollat trust call at 105 & Int auth $1,000 000—.—
1.000
100
1.000
1906
treated
Elec—Common stock auth $25,0)0.000—
Preferred (a & d> stock 6% cum auth $25,000,000 red 120
Collateral M $0,282,000 gold callable at 105
M.xc*
Debenture bonds g (Amer series) red 110
G.c*&r
Secured gold notes
50
1907
&c
100 &c
1918
1,000
1,000
1,000
1918
1919
on
the
common
j
1919
1918
Tot.Inc.
Interest.Depr.,Ac.Pf.Div's.(6%).Com.Divs.
Balance.
$2,660,044 $311,609 $748,689 $180,000 $318,136 sr$l,101,609
2,096,883
170,904
662,389
180,000
sr 1,083.590
1,092,731
1917__
177,272
323,943
180,000
------
sr.
1916
727,527
134,776
25,306
180,000
120,000 sr.
OFFICERS.—Chairman of the Board, Thomas Adam*; Pres.,
R. James Jr.; Vice-Pres., J. F.
411,498
267,445
Darwin
See., M. D.
44th St., N. Y.
Bresnahan and Leon G. Godley;
Bromberg; Treas., Ernest Will von seder.
—(V. 109, p. 1610; V. 110, p. 869.)
Office, 19-25 W.
AMERICAN CIGAR CO.—The American Tobacco Co. owns majority of
and $10,000,000 6% cum. pref. stock.
See V. 73,
D. 1113; V. 78. p. 1393; V. 93. p. 1122-24.
Holds a large interest In Ha¬
vana Tobacco Co. com. stock.
V. 85. p. 285; V. 80, p. 110.
Properties,
V. 72, p. 185. 284. 937. 1037; V. 73. p. 958: V. 75. p. 1255.
Divs. on pref. stock from July 1906 to July 1912, 6% yearly (3% s.-a.),
Oct. 1912 to Apr. 1920, 134% Quar.
On com. in 1912 to Nov. 1 1918,
the $10,000,000 com.
6% yearly (134 % Q--F.); Feb.
P'Calendar
earnings
Preferred dividends
_
—
Common dividends
1919 to May 1920 paid 2% quar.
1919.
Years—•1 "■
Net
$2,175,799
(6%)600,000
(8%)800,000
V. 108,
1918.
$2,318,982
$1-867.285
$2,213,755
600,000
600-000
(6)600,000(6%)600,000(6%)600,000
$775,799
$1,118,982 $1,013,755
$667,285
surplus__$13,218,7l5 $12,442,915 $11,323,933 $10,316,178
Sylvester; Treas., Geo. G. Finch, 111 Fifth Ave., N. Y.
972, 1090.)
Balance, surplus-
m
Profit and loss,
Pres.,
A. L.
—(V. 110, p.
do
1931
l
First Nat Bank, N Y
1924
Apr 23 '20 %% 16 Ex PI. Jersey City, NJ
S Sept 2
J
5
A
&
O April 1 1920
New York
5g
A
&
O Apr 1 1923
Detroit
4%
July 1 '20 \H% Office.
AMERICAN COAL.—Mines at Barton and Lonaconing, Md., and Poca¬
Va.
Inc. in Md.; re-inc. in 1903 in N. J.
V. 80,p. llS'04-'06. "07. '08. '09. T0-T5. *16. '17. '18. '19.
Regular
___l 30 10 yrly 35
10
10 6 y'l.v
25 30 28 16
In 1920: Mar. 17, 8%; May 20, 10%.
Report for 1918 showed: Gross
earnings, $1,630,302; net, $367,265; deprec., $123,805; divs. (28%), $340,786; bal., def., $97,326: total surplus Dec. 31 1918, $1,025,560.
Pres.,
W. DeL.1 Walbridge.
Office, 1 Broadway.—(V. 110, p. 972.)
hontas region. W.
LATE DIVIDENDS. /'03.
AMERICAN COAL PRODUCTS CO.—See
Barrett Company.
B way. N
Apr 1 '20 2 H % Checks mailed
do
do
Mayl '20.1)3%
(J—J
Guaranty Trust Co. N
Lyman N. Hine; V.-P., H. W. Sheckley, J. G. Gash, C. O. Phillips W G.
Cassady; Sec., R. Catlin, 65 Broadway, N. Y.—(V. 108, p. 173; V. 109,
p. 678, 1984.)
AMERICAN
DISTRICT TELEGRAPH CO. (OF NEW JERSEY)
ORGANIZATION,—Incorporated in New Jersey in Nov. 1901: operates
In most of the large cities and towns of the U. S.; is engaged in ail kinds of
electrical protective service* V. 77, p.148; V.81, p.213. Messenger business
was leased to Western Union Telegraph Co. from Jan. 11911 to Sept.1927,the
ann. rental being based on past oper. returns, subj. to increase on changes of
business.
V. 94. p. 1121.
Dividends in 1903, 3M%: since to July 1918,
4% yearly, Q.-J., with 1% extra in Jan. 1916. Jan. 1917 and Jan. 191.8.
Dividends were then suspended (payment of rental having been intermitted
owing to losses on messenger service), but on Oct.
and Apr. 23 1920, H of 1% was paid.
The Western Union, owning 81-37% of the stock,
J
1,390.000
4,000,000
6 g
J
New York
J Jan. 1 1921
Mar 1 1921
&
M
Guar Tr Co, N Y or Chic
'20-21-24 New York
Dec 1
&
however, continues to transact a foreign forwarding business and foreign
exchange as well as its traveler's checks, money orders and other financial
activities.
The
Am.
Express Co.,
Inc.,
was
incorporated in Conn,
V. 109, p. 2405.
'01. 02 to '05. '00. '07 to '13. '14. 191ft. 1916 to July'20
\ 7
8% yrly.
11
12% yrly. 5
4)3
text
Jan. 1916 to Apr. 1920 paid 1 H»% quar. (6% per ann.), with a special div.
of $2 In Jan. 1917 from investments.
V. 103, p. 1793.
In July 1913 paid
25% ($4,500,000) In Wells. Fargo & Co. stock.
Govt, control terminated Mar. 1 1920.
DIVS.—
Per
J
cent
1918.
1919.
1918.
1919.
earns..$8,192,652 $49,569,794 Deductions
.$701,416 $679,409
1,032,366 1,031,052
Other income. 1,328,699
64,014
53,865
874,966 Surplus.
(V. 110, p. 80,
Pres., G. C. Taylor; Treas., James F. Fargo, 65 B'way.1417, 1974.)
Gross
Oper. income.
469,097
AMERICAN GAS CO.
872,1090, 1850, 1974.)
889,360
—
Dividends
(HOLDING
CO.), PHILA.—(V. 110, p. 80,
AMERICAN GAS & ELECTRIC CO.—ORGANIZATION.—Incorpo¬
rated in 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¬
with Gen.'l Elec. Co.
New 30.000 k.w. generating plant at
ests affiliated
106, p. 298; V.
In 1916 purchased Citizens' El. Co. of Pittston, Pa.
V. 105, p. 821.
service corporations located in six
States, supplying electric light and power in 116 communities, including
Canton and Newark, O.; Muncie, Marion and Elwood, Ind.; Scranton, Pa.;
Wheeling, W. Va.; Atlantic City, N. J,; and Rockford, 111.; serving an
aggregate population of approximately 920,000.
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 42 cities and towns with electric light and power.
STOCK.—Stockholders on June 9 1919 voted to increase the stock from
$15,000,000 to $50,000,000
half preferred.
V. 108, p. 2124.
The
stock dividend
paid in
July
1919
increased the outstanding common
to $5,439,750.
See V. 98, p. 1539, 1610, 1769; V. 97, p. 1585; V. 102, p.
1626, 1S98; V. 101, p. 1887.
In 1919 also issued $1,772,500 Pref.
DIVIDENDS.— %/ '12. '13. '14. *15. '16 to Apr. '19,
July '19&'20On common, cash
\ 6)3 7% 8
8
10 (2)3 quar.)
See
See
"Ixtra In stock (J. & J.)
2
4
4 (2 s. a.)
text
text
Windsor, W. Va. (Central Power Co.); V. 107, p. 2291: V.
105,
p.
821, 1524.
102, p. 1719.
Increased rates, see
Nature of Business.—Owns public
V.
do
25
in stock (special)
2)3%. payable Oct 1 and 25% payable July
declared on the common stock along with the
regular quar. of 2)3 % in cash, payable July 1 and again Oct. 1.
On Jan. 2
1920 and again on Apr. 1 1920 paid 2)3 % in cash and 2% in common stock.
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.
In 1914 $1,000,000 100-year 6%
debenture bonds were Issued.
V. 99, p. 51, 122.
The $4,000,000 6% notes dated Jan. 1 1918 (total auth., $5,000,000) are
due $2,500,000 Jan. 1 1920 and $1,500,000 Jan. 1 '21, but callable at 100)3.
They are secured by $6,667,000 First & Ref. M. bonds of Central Power
Co., the entire common stock of which is owned by the American company.
Reserved notes are issuable only as additional First & Ref. 5s of the Power
Co., pledged to at least 166 2-3% of notes to be Issued. V. 106. p. 192:
V. 103, p. 2344; V. 106, p. 298, 608.
[The $500,000 7H% notes of Central
Power Co., part of an authorized $1,500,000 dated June 1 1918 and due
June 1930 (but callable), are also secured by $1,667,000 Central Power Co.
First & Ref. Mfcge. 5s.j
The 3-year 6% Secured Convertible gold notes dated Jan._l 1918 are
secured by deposit (at 70% of par) of First Mtge. 30-yoar 5% gold bonds
of the Indiana General Service Co.
The notes are callable as a whole or in
amounts of not less than $500,000 by lot at 100)3 and int. on six weeks'
notice, and are convertible at option of holder at par into the pledged bonds
at 86 H and int. to Mar. 1 1919, at 88 and Int. thereafter to Mar. 1 1920
and at 89)3 and int. thereafter to maturity.
Total auth. note issue
$3,500,000, all Issuable on same proportion of collateral.
See offering of
initial $1,430,000 in Mar. 1918 in V. 106. p. 1323, 1346.
The 6% Secured Gold notes dated Dec. 1 1919 are secured by pledge of
$6,667,000 1st & ref. 5s, due 1947, of the Ohio Power Co.
Additional notes
are Issuable only against pledge of 1st & ref. bonds of Ohio Power Co,to the
extent of 166 2-3% of the notes.
Callable all or in amounts of not less than
$500,000 at 100)3 and int. on 60 days' notice, notes so called to be of earliest
maturity outstanding.
Of the $4,000,000 notes issued, $500,000 mature
Dec. 1 1924 and the balance Dec. 1 1920 and 1921.
V. 109, p. 2264.
29 1919, Jan. 29 1920
1
in common stock,
were
Leading Bond, &c.. Issues of Controlled Companies Dec. 31 1918.
A nthnrized. Outstanding. Dated.
Compare.
voluntarily arranged m
Canton to.) Electric Co. 5s
xs2,500,000
Canton Lt., Ht. & P. 1st 5s
x
Closed
Ohio L.&P.Co.. Tiffin,O.,lst5sx30 000,000
Tuttle, Chairman; Robert F. Brown, 55 Cedar St.,
V. 107, p. 1670; V. 108, p. 582, 685.
Purchase money
obligations, $243,125.
Guarantees principal and interest of N. Y. Fire
Protection 1st M. 4s due Sept. 1 1954, and $14,000 Amer. Still Alarm Co,
1st M. 5s.
Suit against Western Union for $2,778,823.
V. 110, p. 1090.
Pres., Newcomb Carlton; V.-P., Edw. Everett; V.-P., C. C. Johnson;
V.-P., Sec. & Aud., F. J. McLain; Treas., G. K. Huntington.—(V. 110,
p. 1090, 1644.)
' 1917 V.107,p.l83
$500,000 1918
Pledged
General Service Co. Mtge. 5s
(?)
Muncle El. Lt. Co.1st gu.5s
x 1,600,000
Marlon Light <Ss Heating 5s
x 1,500,000
Ohio State Power Co. 1st 6s
3,000,000
Rockford E. Co. 1st & ref. 5s___x 7.500,000
Rockford Ed. IstM. 5s
«..x
Closed
Scranton (Fa.) Elec .Co.1st s.f.5s xl0.000.000
rela¬
mittee, Charles F.
N. Y., Secretary.
TELEGRAPH CO. OF NEW YORK—In
sold to Western Union Tel. Co.—(V. 108, p.
AMERICAN DRUGGISTS SYNDICATE—Has manufacturing plant
at Long Island City: stock largely owned by druggists throughout U. S.
Dividends paid regularly 1908-T9, rate in 1919, 8%.
Annual report for
1919, V. 110, p. 774.
Bights.—Stockholders of record Dec. 23 1919 were given the right to
subscribe at $12 per share for additional capital stock (par $10) to the_extent
cf 33 1-3% of holdings.
,
AMERICAN EXPRESS CO.—An "Association" formed under the law«
New York State Nov. 25 186$.
Not an incorporated company.
1918 the American Railway Express Co. under Govt, control
took over the domestic express operations of American, Adams, \Vells Fargo
and Southern express cos. for duration of war.
The American Express Co.,
in Feb. 1919
countries.
with $6,000,000 to facilitate the company's operation in foreign
V. 108, p. 880.
New foreign securities service, V. 110, p. 1974.
1919 to pay annually $20,280 (being a return of 6% on the present value),
for the use of the messenger plant pending a further adjustment of the
tions between the companies.
Minority shareholders' protective com¬
On July 1
*
do
do
~
6 g
6 e
OentrafPowerCo. First & Ref. M150,000,000
Coll. 7H% notes due J'ne '40- $1,500,000
of
*
In June 1919 extra divs. of
(THE) AMERICAN COTTON OIL CO.—Incorporated Oct. 14 1889 In
New Jersey.
Makes crude and refined cotton oil and (through subsidiary
companies) lard, 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.
In Dec. 1919, purchased plant of Corn Products Ref. Co. at
Davenport, la., for $250,000.—V. 109, p. 2264.
DIVS.—I '03. '04. '05. '06. '07. '08. '09. '10. 'U.
'15. 1916 to»Jne..1 20.
Com.%14
1
1
2 '
4
3
5
5
234
1 4yrly (1 % Q.-M.)
BONDS, &c.—Of the 5s of 1911 ($15,000,000 auth.), $5,000,000 were
reserved to retire the 43^s 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 1918-19. at length in V. 109, p. 1984, 1995.
Aug. 31 Yr.
Net Profit. Deh.,Ac.Jnl. Pref. Divs.
Com. Divs.
Bal., Sur.
1918-19
$2,694,214
$850,000
(6)$611.916
(4)$809,484 $422,814
1917-18
2,327,995
666,667
(6) 611,916
(4) 809,484
239,928
1916-17
2.03 4,042
500,000
(6 ) 611,910
(4) 809.484
112.642
OFFICERS.—Pres., William O. Thompson; 1st V.-Pres. & Treas.,
AMERICAN DISTRICT
liquidation; messenger plant
880,1062.)
Co, Mich
Trust
65
canceled to Dec. 31 1918.
Jan. 1916 and suspended
Cal.Yr.
N Mhv
&
Q
.1
stock were reduced to IV^% quarterly In
in Apr. 1916; none then until Feb. 1 1919, when
1% was paid; since to May 1920. 1% quar.
Sen Sen Chiclets bonds, V.
89, p. 1286.
Dec. 31 1919, surplus $2,895,743.
NOTES.—In Oct. 1919 issued $2,500,000 serial gold notes, due $300,000
on Oct. 1 from 1920 to 1926 and $400,000 Oct. 1 1927, but subject to call at
price of 103H in year 1919-20, decreasing 3d- of 1% each year thereafter
to
10034% in year 1926-27.
While these notes are outstanding, the
property cannot be mortgaged.
V. 109, p. 1610,
REPORT.—For year 1919:
' '
Dividends
.
'
Y
in 1919 M & S 15 Feb 28'20
1.500.000
auth call lOOJ^.NC.kc*
$7,500,000 auth, callable 100)3
c*
$285,050 ofthisamt.purch. &
100
1914
do
8
&
;M
!m
text
_
&
Q—J
Q—F
7,696,750 6 In 1919
5 g
6.282,000
|F
A
A Feb 1 2007
6 g
5,081.000
M &
N May 1 2014
50
Eq..ct
Secured g notes, 1921 call 100H
Secured Oonv g notes $3,500,000
5 g
6?
18.000.000 6 in 1919
text
5,439,750 See
100
Gas 6c
M
text
See
14,000
5,666,690
as
May 1 '20
2% Checks mailed
do
Apr 1 '20 1H%
Q—if
Q—J
May 20 '2010% Office 1 Rroadwnv. N
June 1 1920. 1% Liberty Nat Bank, N
4 in 1919
Q -M
do
do
&
D June 1 1920,3%
6 in 1919 J
See
604.000
500
10
not hied.
.
z
1,000
1911
1919
p&i
American Druggists Syndicate—Stock
American Express—Shares
z1.500.000
20,237.100
10.198,600
5 000,000
10,000.000
9,905.351
25
(The)
American Still Alarm 1stM Series G 5sguar
Places Where Interest and
Dividends are Payable
Last Dividend
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, Ac.,
American
143
INDUSTRIAL STOCKS AND BONDS
Mat, 1920.]
Secured
gold
notes,
$1,356,500 1907 V.93,p.l604
18.000 1895 V.85,p. 224
1.188.000,1914 V.99.P.1678
6%--$1,000,000
Atlantic City (N. J.) Elec. 5s—x 5,000.000
Pf. (a.&d-)stk.6%cum.,call.120
500,000
N. J. Hot Water Ht.
5s
x
Atlantic El. Lt. & P. 1st 5s._.x
Closed
Closed
Pledged
836,500
288,500
700,000
1,562,000
1907
1907
V.80.P. 484
V.91.p. 1774
1915V.101 ,p.2076
1909 V.89,p. 630
21.000 1899
5,509.000 1907 V.85.p. 808
613,000 1917 V.105,p.1315
2,113.000 1908 V.86.P.1102
370,200 (divs. Q.-F.
),
8,000 1906
175,000 1904
1,797.000 1911 V.92.P.1441
—
Va.) Elec. tat 5s_x12.000.000
EARNINGS.—Years ended Dec. 31:
Dec. 31 Gross Earns.
Net Sub. Cos.
Earnings
Year— Sub. Cos.
to Am. G.AE. Am. G. A E.
Wheellnv (W.
' 1918 V.106,p.l34
Fixed Chgs. &
Bal., for
Deb. Int.
Pref. Divs.
$587,987
$973,537
$758,728
$1,144,278
543,470
1917—
7:915,137
761,591
610,786
828,907
Chairman of Board, S. Z. Mitchell: Pres., R. E. Breed; Sec. & Treas.;
F. B. Ball.
Office, 30 Church St., N. Y.—(V. 108, p. 2124, 2435, 2630,
V. 109, p. 74, 1988.)
AMERICAN GLUE CO.—V. 110, p. 1417, 1528, 1850, 2077.
1918—$10,056,609
AMERICAN GRAPHOPHONE CO.—See
Columbia Graphophone Co,
[VOL. 110.
INDUSTRIAL STOCKS AND BONDS
144
MISCELLANEOUS COMPANIES.
Date
Par
Amount
Bate
when
Last
Dividend
[For abbreviations, Ac., see notes on Jirst page.]
Bonds
Value
Outstanding
%
Payable
and
Maturity
Amer Graphophone Co—See
Co
ne
caption Columbia Graphopho
below.
$100 xl 1,500,000 None pd.
American Hide & Leather—Common s toe k$i 7,500,000
Preferred (a A d) 7% cum $17,500,000 (V 76, p 104)
American Ice Co—
Common stock $7,500,000-—
Pref stock (new) 6% non-cum $15,000,000 (V 104, p 561)—
100
1912
—
loo
100
100
100
100
100
1889
1904
1,000
w ere held 1 n
AMERICAN HIDE & LEATHER CO.—ORGANIZATION.—Organ¬
in New Jersey in 1899 as a merger of upper leather interests.
See V.
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. 100, p. 1853, 1747;
Y. 107, p. 404, 804; V. 108, p. 81.)
ized
09, p.
amounts Issued ($13,000,000 pref. and $11,500,000
$451,700 pref. and $225,900 com. Is held in trust.
STOCK.—Of the
DIVIDENDS—
1905.
3
U.S. Liberty bonds..
1906-15.
nil
1916.
5
__
Per cent cash
1918.
5
2
—
1917.
5
1919.
9
From Jan. 1919 to July 1919, Incl., paid 1*4% quar., Oct
1 1919 paid
l%% regular and 2% extra in cash Jan. and July 1920 1*4 %>—V. 109,
p.
Overdue pref. divs. Oct. 1 1919
478.
about 114%; V. 106
p.
2561;
V. 107, p. 404, 804.
BONDS, &c.—On Sept. 1 1919 the remainder of the $10,000,000 1st
Mtge. 6s of 1899 amounting June 30 1919 to $2,507,000 was paid off out of
surplus funds. V. 109, p. 983; Y. 108, p. 880.
REPORT—Year 1918-19, V. 109, p. 885.
Gross
Trading Int.onlst
Other
June 30
Years.
Output.
Profits, etc.
1918-19-$28,693,698 $3,730,430
1917-18
29,104,428 3,534,811
1916-17
24,076,824 2,730,983
1915-16
23,559,749 2,521,407
1914-15- 19.Q92.483
1,888,588
-
—
-
9 Mos. to Mar. 31—
xPref.
Balance,
M.Bds.
Deduc.
Div.
Surplus.I
$511,500 $523,933 $1,267,500 $1,427,503
511,500 615,112
650,000
1,758,199
511,500 422,836
975,000
821,627
511,500 366,641
1,643,266
511,500 397,114
959,974
-
y
-
DIRECTORS.—Theo. S. Haight (Pres.), Charles P. Hall (1st VicePres.), Aaron Hecht (2nd V.-P.), F.L. RoenitzT3d V.-P.), Frederick Strauss,
M. Robson. O. H. Buswell, Ohas. W. Tidd, Henry Seligman, James Skin¬
Geo. A. Hill (Sec. & Treas.), Lindsey Hopkins and O. E. Danforth,
Fred. E. Thompson and Thomas B. Doe.
Thomas B. Yiulle, J. P. Story, Jr.,
Office. 96 Cliff St., N. Y.—(V. HO. p. 467, 1975.)
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. O., Camden and Atlantic
City, N. J.
Operates in N. Y. under name of Knickerbocker Ice Co., and
25% of its common, making the capitalization In hands of public about
as shown above.
V. 104, p. 165, 363, 453, 561.
Circular Issued by Committee of targe Stockholders.—See V. 109, p. 2264.
DIVIDEND.—No. 1, on new pref., Apr. 25 1917 to Oct. 25 1919, 1*4
quar.; also extra 1%, Oct.
and Apr. 24 1920, 1 K%>
25 1918 and 1919, making 6% for year Jan.
payable 1%
On com., declared 4% for 1920,
each on Jan. 24, Apr. 24, July 24 and Oct. 25.
V. 107, p.
Y. 109, p. 1275, 2441.
York, New Jersey, Pennsylvania, Maryland and District of Columbia,
having an estimated value of $8,100,949 and a general lien, subject to exist¬
ing encumbrances, on substantially all the remaining property. Of the bonds,
$5,283,000 on Oct. 11919 were outstanding, $305,000 in treasury, $595,000
in sinking fund and $76,000 in the fire insurance and workmen's com¬
pensation funds.
Remainder reserved to retire about $1,133,000 bonds
and real estate mortgages and for 75% of cost of additions ana improve¬
ments.
Redeemable at 102 K as a whole on 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; $1,912,000 used for sink. fd. mortgages and $107,000 were Oct
1 1918 in the treasury, leaving $1,076,000 outstanding
In hands
of the
public.
In Jan. 1919 there remained only $410,000 bonds for the retire¬
ment of which collateral trust bonds can be drawn, and of the $410,000
ohly $13,700 were outstanding.
REPORT.—Year ending Oct. 31 1919 in V. 110, p. 260.
Oct. 31 Years—
1918-19.
1917-18.
1916-17.
Total income——$15,548,124 $12,742,433 $10,014,932
Net earnings—
$5,108,045
$3,661,627
$2,610,168
Balance, surplus
$1,127,901
2,452,333
1,626,857
1915-16.
$9,229,111
$2,132,008
1,427,447
(6)893,934(3*4)563,267(1*4)186,502
$315,360
$420,044
$518,058
DIRECTORS, &c.—Pres., Wesley M. Oler; V.-Pres., Walter Lee,
& Treas., Thomas Pettigrew; Secretary, E. P. Passmore, Jos.
Jr., Henry C. Harrison, Robert W. Kelly, L. L. Mann, Col.
Robert M. Thompson, D. H. Morris, Henry H. Head, John F. Harris,
Alvin W. Krech, Samuel McRoberts, John P. Grier and Harry S. Black.
Office, 15 Exchange Place, Jersey City, and 1480 B'way, N. Y.—(V. 110,
p. 260, 263.)
V.-Pres.
Wayne,
AMERICAN
INTERNATIONAL
CORPORATION.—ORGANIZA¬
TION.—Incorp. In N. Y. on Nov. 23 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 the following companies (V. 103, p. 2338): Pa¬
cific Mail SS. Co. (V. 101. p. 2076): the Allied Machinery Co. of America,
Allied
Machinery Co. de France; Allied Machinery Co., D'ltalia, which in
1919 absorbed the Allied Sugar Machinery Corp., the
Allied Construction
Machinery Corp. and Horne Co., Ltd.), Latin-American Corp., Rosen &
Turpentine Export Co. (V. 103, j>. 240), V. 104, p. 1594.
International
Mercantile Marine Co., U. S. Rubber Co., 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 Siems-Carey Ry. & Canal Co.
(V. 103, p. 1303; Y. 103, p. 1265; v. 106, p. 68), International Products Co.
(V. 104, p. 2237), Amer. Int. Steel (export) Corp. (V. 105, p. 999; V. 106.
p. 88), G. Amsinck & Co., Inc., Central and South American export and
Import house (V. 105, p. 1803; V. 106, p. 88,1579). Central Products Co.
United Fruit Co.
V. 102, p. 1816.
American Balsa Co., Inc., V. 108,
p. 1157.
Societa Italo-Americana di Studi E. Lavori Pubblici, Balso
Refrigerator Corp.
Centra) Trust Co. N Y
New York A Phlladel'a
Q—J
trust
June30 20 $1.50 N. Y.
June30 20.51.50 New York
See text
Checks mailed
do
do
Nov !'20.1 K%
Jan 2 1920 *
Oct 1 1920
do
■
do
Checks mailed
June30 20 i *4
June30 19201
Apr
-V:
do
do
Checks mailed
30 Church St, New York
1 1929
Mar 1 1924
Royal Trust Co, MontrT
Jul y 1 1919.
DIVIDENDS.—Com. and pref., 75c., paid
Dec.
quar.
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 June 1920
$1 50 quar.
,
V.
109,
p.
1988; V. 105,
p.
2096.
REPORT.—For calendar year 1919 in V. 110, p. 1285, showed:
Net
Total
Pref. & Com.
Balance,
Total
Income.
Earnings.
Dividends.
Survlus.
Surplus
1919
—$12,327,780
$4,719,167
$2,397,600
$2,321,567
$7,569,543
Cal.
Years.
1918
1917—.
1916
7,846,547
6,830,394
3,839,877
OFFICERS.—F.
A.
3,716,379
3,740,122
2,483,943
1,817,325
5,743,410
♦3.507,513
1.923.539
1,899,054
2,171,947
2,108,943
1,574,175
375,000
Vanderlip, Chairman of the Board; Pres., C. A.
Geo. J. Baldwin, Thos. W. Streeter, Philip W.
Henry, R. P. Tinsley, R. B. Sheridan and Matthew C. Brush. The Secre¬
Stone; Vice-Presidents,
tary is Cecil Page and Treasurer, Joseph S. Lovering.
Broadway.—(V. 110, p. 563, 1285, 1319. 1974, 2077.)
N. Y. office, 120
AMERICAN LA FRANCE FIRE ENGINE CO. INC.- -(V. 110, p. 361,
873, 1417, 1528. 1975,2077.)
AMERICAN LIGHT & TRACTION
CO.—ORGANIZATION.—Incor¬
porated in New Jersey May 13 1901 by Emerson McMiilin 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.
Milwaukee Gas Light Co—
$5,000,000
Grand Rapids (Mich.) Gas Light Co- 2,400,000
Madison (Wis.) Gas A Eleo. Co..
400,000
St. Joseph (Mo.) Gas Co
1.000.000
Bonds.
$8,097,000 V. 74, p.
482
1,575,000 V. 64, p.
662
863.5001
1,000.000) See page 189
8t.P.(Mlnn.)G.Lt.Co.(V.106,p.2759) 4,350,000
5.000,000
Binghamton (N. Y.) Gas Works
450,000
990,000J
Con. Gas Co. of N.J.(Long Branch)— 1,000,000
1,715.000 V. 75. p. 344
Detroit City Gas Co
9,500,000 10,000,000 See this sect'n
St. Croix Power Co., Somerset, Wis..
2.500
750,000 V. 73. p. 1014
San Antonio P. S.Co.(V.105,p,390)— 4,700,000
4,793,000/See "Electric
Muskegon (Mich.) Trac. & Ltg. Co..
663,000
600,0001
Ry. Sec."
—
South St. Paul Gas & Elec. Co
1289, 1386;
BONDS.—The Real Estate First & General Mtge. sinking fund gold
6s ($6,500,000 auth. issue) are a first lien on real estate in Maine, New
Int., taxes, impts,, &c—
3,083,813
Preferred Dividends—-(6%)896,331
IK New York
Apr 24 *20,
Apr 11922
Aug 11942
Other interests (V. 106, p. 88) are: American Internat. Shipbuilding
Corp. (V. 107, p. 2434; v. log, 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.
Uruguay contracts, V. 107, p. 503.
International
Products Co. (see below ancTV. 109, p. 1083); Simms 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.
Common and
pref. stock are to be created 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. 1793.
-
Net.
Bond Int.
Sk. Fd. -ft Depr. Bal. Surp
1919-20.---------$2,239,979
$31,840
$291,655
$1,916,485
x Dividends
in 1918-19: cash, 7*4%, $1,007,500; Liberty bonds, 2%
$260,000.
y After charging replacements, interest on loans and reserves
for Federal taxes and State franchise taxes.
V. 109, p. 1701.
Profit and loss surp., June 301919, $9,540,929, agst. $8,469,386 in 1918.
ner,
10.750.000,7 in 1919
25,000,000 5*4 % '19iQ—M31
25,000,00017 In 1919;
Q—J
432,000
6 g
A
&
O
1,500,000!
4 g
M &
S
100
Of these amounts. 2,259 shares of com. and 4,517 of pref
PREF.
—.
100
—
common),
See text
._...
Managers' stock $1,000,000 100% paid 6ct 15 1919—-American Light & Traction—Common stock $40,000.WO—-.
Pref (aAd)stk 6% cum $25,000,000 autb(V 82. p 50, 279)American Linseed Co—Common stock $16,750,000-.-—
Preferred $16,750,000 7% non-cumulative.
— _
—
American Locomotive—Common stock $25,000,000. - -----Preferred (a A d) 7% cum $25,000,000 (Bonds, see text)..
Richmond Locomotive Consol Mtge assumed
z
Locomotive & Machine Co 1st 4s guar p & i
z
*
O July 1 1920 1H Equitable Trust Co, N Y
&
Q—J 24
$7,101,330
4
14,920,200 6 in 1919 Q—J 25
A
&
O
1,076.0001
5 g
F
A
A
5,283.000
6 g
302.200!
49,000,000
Q—M
1,000,000 See text
Q—M
25,047,100 See text
Q—F
14,236.200,0 in 1919
Q—F
16.750.000
100
100
PeP xx.c*
Underlying bonds (Oct 31 '18) after deduct $817,500 owned
Amer Int Corp—Common stock auth $49,000,000 100% pd
Heal Est 1st A Gen M $6,500,000 g s f red
New York
Q—J
x13,000,000,9 in 1919 A
1,000
1.000
1902
—Ce
GpUateral trust bonds gold (55,000,000)
Places Where Interest anc
Dividends are Payable
NOTES.—It was stated in May 1920 that Halsey, Stuart & Co. had
purchased $6,000,000 5-year 6% gold notes, convertible into either com.
pref. stock.
or
DIVS. (%).
Common
f '04. '05. '06. '07. '08. '09. '10.
(cash).-J
(stock)..(
Do
9*4
1*4 3K 44 5K 6K 9
12*4
__
1911 to May. 1920.
10% yrly. (2*4 Q.-F.)
10
10% yrly. <2*4 Q.-F.)
EARNINGS.—For calendar year 1919 in V. 110, p. 558.
1919
1918
1917
Gross eartt.sub.co.stocks $4,361,545
$4,326,367
$5,392,615
Net earnings
4,142,863
4,014,801
5,023,381
Div.
on
on oom.
(10%)
854,172
2,416,637
854,172
2,190,390
854,172
1,986,968
$872,054
pref. stock (6%)
Cash div.
1916
$5,859,938
5,648,027
854,172
1,801,798
$97,239
$2,182,241
$2,992,057
Balance, surplus
There was also deducted in 1919, as in
stock dividends on common stock, against
previous
years,
$2,416,637 for
$2,190,390 (10%) in 1918.
Total surplus Dec. 31 1919, $10,324,745.
Chairman, Emerson McMiilin; Pres., Alanson P. Lathrop: V.-P., Marion
McMiilin; V.-P„ C. N. Jeliffe; V.-P., H. C. Abell.
N. Y. office, 120 Broad¬
way.—(V. 110, p. 467, 558, 1972, 2194.)
AMERICAN
LINSEED
CO.—ORGANIZATION.
Ac.—Incorporated
In Dec. 5 1898 In N. J.
V. 07,p. 1101; V. 09. p. 097.
See V. 71. p. 545;
V. 70. p. 631; V. 102, p. 1719.
Stock, $33,500,000 (one-half 7% non-cum.)
pref.npar $100.
V. 76, p. 216.
Divs. on pref., 1899 to 1900, aggregated
10*4%; none then till Nov. 1916, when 3% was declared payable 1*4%
Jan. 1 1917 and 1*4% July 1 1917.
In Nov. 1917, 1918 and 1919 declared
annual dividends of 7%, payable quarterly (Q.-J.) in following years
(V. 107, p. 201).
In Nov. 1919 declared an initial dividend of 3% on the
common stock, payable *4 of 1%, Dec.
15 1919 and March, June and
Sept. 1920.
V. 109, p. 1893.
Loans payable (Sept. 30 1919), $8,048,073.
REPORT.—Report for year ending Sept. 30 1919, V. 109,
1918-19
...
1917-18
1916-17
Gross (All
p.
1888.
Operating
Sources).
Sept. 30—
Year.
Gain.
ties, for
Preferred
Balance,
Conting.(( Dividends.
Surplus.
a$ll,025,776a$4,329,243
(7)$l,172,500a$2,683,328
4,385,287
2,138,970
1,172,500
966,470
4.186,044
2,147.519 $383,089
1,172,500
591,930
a Figures for 1918-19 include results of
operations by subsidiary companys;
heretofore not published.
Pres., R. H. Adams; Sec., W. A. Jones; Treas., H. E. Cooper.
Office,
Woolworth Bldg., N. Y.—(V. 110, p. 467.)
AMERICAN
LOCOMOTIVE
CO.—ORGANIZATION.—Incorp.
In
N. Y. on June 10 1901 as a consolidation of various companies (see fist V.
73, p. 80).
V. 72, p. 1189; V. 73, p. 84, 180, 724; V. 83» p. 680; V. 88. p.
102; V. 89, p. 591; V. 78. p. 1111,1393.1448; V. 84, p. 1431; V. 80, p. 474;
Y',§74rp;^5:
2454: V. 105.
p.
182, 906.
V.
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.;
Chester,
Pa., and Richmond, Va.
DIVS. (%)— 1908.
On common—„
3H
1909-15. 1916.
1917.
'18.
'19.
1920.
Nil
2*4
5&1R. C.
5
5>4 1*4,1*4,-,was increased from 1*4 to 1 *4 %,
V. 109, p. 678. On the pref. stock full 7% p. a. from organization to date.
On Sept. 301919
the quarterly dividend
UNFILLED ORDERS.—Unfilled orders
against $16,034,678 June 30 1919.
on
Dec. 31 1919:
$7,862,157,
Mat, 1920.]
INDUSTRIAL STOCKS AND BONDS
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on first page]
Date
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
American Malt & Grain Co—Stk 55,000 sh, no par value._
AmMalt.g Oo 1st RefMassum(closed) gcaI1105sf.yG.xc*
American Piano Co—Common stock $5,300,000
Preferred (a & d) stock 7% cumulative $6,000.000
American Pneumatic Service—Common stock $5,000,000
First preferred (a <k d) $3,000,000 7% cumulative
(a
& d)
$L,000
100
25
changed to calendar
p. 966, showed:
year;
100
&c
100
&c
100
1920
1,000
100 &c
&c
100
2,933,500
100
Gross earnings.
500 &c
1916
500
1918
25
100
1911
1912
1913
1,000
1,000
1,000
report for 6 months
Int.
on
_._$20,630,084$108,923,524 $80,588,071 $82,213,845
91,569,915
4,922,789
70,358,566
4,018,951
72,614,654
2,205,319
418,252
1,750,000
1,250,000
299,417
1,750,000
1,250,000
5,000",ooo
59,326
875.000
750,000
&c
Preferred dividends
Common dividend
do
Red Cross (1%)_
Reserve for additions
Balance, surplus
1,000,666
192,192
1,750,000
1,250,000
250,000
2,000,000
$952,171
$4,012,567
$1,911,137
$1,951,680
1919, $22,793,244.
Net current assets,
Profit and loss surplus Dec. 31
DIRECTORS, &c.—Andrew Fletcher (Pres.), Charles HaydemJoseph
(Y.-Pres.), John W. Griggs, Fredk EC. Stevens, W. H. Woodin,
W. Mellon. L. L. Clarke, Albert H. Wiggin. Leigh Best (V.-Pres.),
W. Spencer Robertson (Sec.), J. O. Hobby, Jr. is Treas.
Office, 30Church
St., N. Y.—(V. 109, p. 678, 976; V. 110, p. 966.)
Davis
A.
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, &c., 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, &c., V. 109, p. 485, 478, 272;
V. 108, p. 2124. 2331; V. 109. p. 1794.
For history or the Malting Co. (a consolidation in 1897) see references
&c., in this "Section" for Oct. 1918.
BONDS.—In Feb. 1920 the outstanding bonds had been reduced
to
$294,000.
1919,
$1,378,862;
gross,
expenses and taxes, $1,187,716; net income,$ 191,146; oth. income, $14,725;
bond int. and organization expenses, $21,912; balance, surplus, $183,958.
REPORT.—Year 1917-18, in V. 107, JJ. JLtf-L
/
p. 1917, for American
,
Aug. 31
Year—
Output,
i
No. Bush.
Net
Earnings.
1919-20—est.5,000,000
(?)
1918-19—est.2,880,000 (5 months)
1917-18
5,424,857
$135,758
1916-17
9,931,631
669.618
Aug. 31
Year—
1915-16
1914-151913-14
1912-13
Malting Co.
Output.
Net
No. Bush.
Earnings.
9,347,691
5,940,000
$408,459
10,973
330,776
403.367
Not
stated
do
DIRECTORS.—DeForest Candee,
Russell H. Landale, S.J.Leonard,
Morgan, James B. Taylor, Robert H. Mainzer and George A.
Officers: Russell H. Landale, Pres.; W. Forbes Mor¬
gan, V.-Pres.; William A. McCarthy, Sec. & Treas.
Headquarters, 120
Broadway.—(V. 110, p. 168, 351.)
W.
Forbes
Ellis Jr., New York.
AMERICAN PIANO CO.—ORGANIZATION.—Incorp. in N. J. June
10 1908 as a consolidation of the following companies, then having a com¬
bined output of about 18,000 pianos yearly; Wm. Knabe & Co., Baltimore,
Md.; Chickering & Sons, Boston, Mass.; the Foster-Armstrong Co., Roches¬
ter.
Pref. stock rights, V. 85. p. 417.
No bonds or mtge.
See Y. 86, p.
1531.
Balance sheet as of Dec. 311919in V. 110,p. 1528.
Di vs. on pref.
in full to Apr. 1920, 7% p. a. (1 %% Q.-J.)
Initial div. on com.—1M%
In cash and 5% in com. tsock—paid Jan. 1 1920; same amount paid Apr. 1
1920.
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.
1628.)
Office, 439 5th Ave., N. Y. City.—(V. 110, p. 1292,
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., &c.
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.
STOCK.—The 7% first pref. stock ranks ahead of old pref.
V. 90, p.
449, 504, 701; V. 91, p. 334.
In 1912 reduced the common to $4,995,662,
changing par from $50 to $25 a share.
Sub. co. stock out. $77,183.
DIVIDENDS on old (now 2d) pref. stock to Jan. 20 1902, incl., 6% per
annum in 1906, 4*4% in 1907, Jan., 1H%; 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 1919, 7% yearly (334% M. & »•)•
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.
AMERICAN
REPORT.—Year 1918, In V. 108, p. 2243, shows: Net, after deprecia¬
tion, &c., $337,214; int. on bonds, $24,498; div. on stock of subsidiary cos.,
$723; divs. on 1st pref. stock (7%), $105,000; div. on 2d pref. (134%).
$94,490; sinking fund. $74,575; surplus, $37,927.
Pres. & Treas., Gilmer Clapp; V.-Pres., Merton L. Emerson; Sec., H. C.
Turner.
Office, 100 Boylston St., Boston.—(V. 110, p. 263.)
AMERICAN
POWER &
Co"
B ankers Trust
N
~Y ~ "
Sept 30 '18 3 H By check
S Mar 30 *18 1H By check
&
A
&
O
F
&
A
Q—M
Q—J
.......
&
International Tr Co, Boa
do
Apr 1 1920
Aug 1 1921
Mar 1 2016
Guaranty Trust Co, N v
Bankers Trust Co, N Y
1H New York
1 1942
Mar 1
D
'
Checks mailed
Apr 11920
Dec
do
1%
New York
1920-23
New
York
Apr 1 1925
Chicago or New York
July 1 14 H% Am Exch Nat Bank, N Y
See text
Q—J
J
6 g
Oct
1 1928
Feb 1 1922
June 1 1920
A
&
do
do
Dec 1 1942
68
O Apr
O Apr
(subscription payments spread over five years), receiving therewith option
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
fronds of this issue.
Auth. 6% gold debentures, unlimited as to
amount,
be issued pursuant to an agreement.
Bankers Trust Co. of N. Y..
trustee.
V. 102, p. 610, 887, 1601, 1627.
EARNINGS.—For years ending Dec. 31.
Calendar
Gross
'
Net
Surplus of
(V, 100, p. 1897):
Pf. Divs. Com.Divs. Balance,
(6%).
(4%).
Surplus.
Cr.$43,688 $216,971 $336,827
$48,219
Cr.188,811
213,792
328,210
204,643
191532.043
203.734
328,210
17.540
Sub. Cos.—
1919—Feb.—1918.
Inc.
1919—12 Mos.—1918. Inc.
Grossfromoper.il,322,826 $1,109,709 19% $14,122,375 $11,656,266 21%
Net earnings.—
523.463
426,635 13%
5,357,753
4,846,470 11%
DIRECTORS.—A. O. Bedford, K. E. Breed, A. W. Burchard, H.H.
Crowell, F.A. Farrar, S.Z. Mitchell. F. G. Sykes, F. C. Walcott, Henry "H.
Wehrhane, H. P. Wright, A. S. Grenier, G. E. Groesbeck.
Officers: F. G.
Sykes, Pres.; William Reiser, Treas.; and E. P. Summerson, Sec.
N. Y.
office, 71 B'way.—(V. 106, p. 818, 1798, 1897; V. 107, p. 504, 606, 2378.)
AMERICAN PUBLIC SERVICE CO.—(V. 110, p. 1417, 1750, 2077,
2194.)
Year—
$35,686,011.
LATE EARNINGS.—From June 10 to Dec. 31
Guaranty Trust Co, N Y
1H%
warrants
bonds of constit.
cos., coup, notes,
20
Central Tr Co of III, Chic
I 1936
Logan Trust Oo. Phila
A
&
Grand Rapids, Mich
1 1923
See text
See
text
June30 1920 4% OIT 816 So Mich Ave.Chle
Q—M
3,000,000 7 in 1919 Q—F 15 May 15 1920154
do
do
J
&
D Dec *19-June'21 Guaranty Trust
5
114,000
Co, N Y
J
&
D Dec '19-Dec '22 First Tr & Sav
5
120,000
Bk, Chic
M
&
5
N Nov'19-May 23 First Tr & Sav Bk, Chic
630,000
&c
Years ended June 30
1918-jl9.
1917-18.
1916-17.
Mfg., maint. and admin.
expenses & deprec'n.. 17,532,188
U. 8. & Can. tax on prof
461,399
M
5 g
4.268,200
456,300
2,500.000
310.068
1912
*
Apr 1
S
3,656.700 6 in 1919
F
6 g
&
A
2,200.000
6 g
M &
S
5,650,000
687.600 7 in 1919
Q—J
J
&
D
3.336,300
6 g
M &
300,000
S
A
&
O
250,000
ending Dec. 31 1919 in V. 110,
6 Mos.
Dec. 31 *19.
&
8.705.400 4 in 1919
1912
-
year
text M
do
64,000
311,000
100
7% Serial gold notes
Collateral gold notes, series A, red 100
xx\c*
American Public Utilities Co—Common $20.000,000
Pref (a & d) 6% cum red 105 $20,000,000 auth__
First Hen gold bonds red 105
N.xc*&r*
Bonds (sec by coll; V 102,p 1164) $3,500,000 cal!102^ Kx.c
Scrip for dividends
American Radiator Co—Common stock $22,000,000
Preferred stock (not as to assets) 7% cumulative $3,000,000
Amer Refrig Trans Co—Eq notes due $57.000-$59,000 s-a.x
Equipment notes due $24,000 s-a
mL
x
REPORT.—Fiscal
D June 1 1926
See text
&
"Q-j"
100
1911
1916
Places Where Interest and
Dividends are Payable
new
J
100
American Public Serv Co—Pref stock 7% cum, $10,000,000
First Lien g call 105
Nxxk
Ser C due $105,000 s-a
6.328.800
500 &c
...
do
1,498.890 See
500 Ac
1902
Last Dividend
and Maturity
4.995,662
50
50
1903
new
321,000
5 g
3,161,100 See text
3.858.600 I in 1919
100
stock 6% cumulative 55.000,000
Notes gold convertible to Aug 1921 red 102 see text
x
Gold deben bonds 6% call 110 ($6,984,300 subscr forl.Ba c
do
$55,000
none
1916
Preferred (a & d) 6% non-oumulatlve $7,000,000
Collateral trust mortgage $5,000,000 gold sinking fund.lBz
Damson Con Store Service Co s f bonds
IB*
American Power & Light Co—Common stock $17,500,000..
Preferred
145
LIGHT CO.—Incorp. Sept. 17 1909 in Maine.
1917-i.
1916
Earnings.
Income.
$1,622,177 $558,239
1,236.757
557,840
1,275,687
517,447
Sub. Cos.
...
AMERICAN
PUBLIC UTILITIES CO.—Report, V. 109, p. 979.
June 30 Years. 1918-19.
Gross earns_-$4,643 318
1917-18.
„
1918-19." 1917-18.
#
$4,452,125 Pref. Divs.
income._$1,542,723 $1,626,504
year
(4#) $183,588
$267,954
Interest, &c..$l,647,540 $1,376,855 Balance
der.$288,404 sur .$18,305
From Apr. 1918 to Apr. 1919 the quarterly dividends of
1}$% 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.
Managed by Kelsey, Brewer & Co., Grand Rapids, Mich.—(V. 106,
p. 501, 608, 710, 1346,1798; V. 107, p. 907, 999, 2378; V. 109, p. 174, 979.
Net
AMERICAN RADIATOR CO.- ■Incorporated In N. J. Feb. 10 1899.
Govt order, V. 105, p. 911.
CAPITAL STOCK.—The shareholders on Mar. 3 1920 voted to reduce
the par value of the common stock from $100 to $25, four shares of new
common 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.
(Common stock outstanding Dec. 31
1919, $12,278,400.)
The stockholders voted March 3 1920 to reduce the
par value of the common stock from $t00 to $25 and to issue four shares
of new common stock of par $25 for each share of $100 par.
r. 68, p. 329; V. 80. p. 2346; V. 9Q, ]
p. 374,629.
LATE DIVS.— 1910~ll7T9T2d37l914r"T5. *16. *17. '18.
'19.
1920
Common, cash--. 10 yrly. 10 yrly. 11M
16
16
13
12. 12
see text
Extra, stock, &c_
10 stock 10 stk.
50 stk. 4 bds.
4 bds.
In Feb. 1918 paid extra 4% Liberty bonds; in Mar. 1919 an extra
4%
in 4H% Liberty bonds; in Mar. 1920 an extra of 4% in cash.
In June
1920 paid a div. of $1 (4%) a share on the new $25 par value stock.
.-
11 Mos. to
Dec. 31 '19.
Earnings—
Net profits
$3,036,247
Preferred dividends—(7%)2i0,000
years Ending Jan. 31
1917-18.
1916-17.
1918-19.
$2,656,213
210,000
Common dividends- (13%) 1,964,544(13)
Balaikce, surplus
$861,703
__
$3,261,871
$2,604,668
210,000
210,000
1964,544(13) 1964,544(16) 1309,696
$481,669
$1,087,327
Profit and loss, surplus., $7,763,466
$6,901,763
$6,420,493
In 1918 there was also paid a 50% dividend in stock
$1,084,372
$9,057,215
(aggregating $4,092,800) on the common stock, out of accumulated Burplus.—V. 110, p. 169.
Pres., C. M. Wool ley.
Office, 816 South Michigan Ave., Chicago.
—(V. 110, p. 169, 972.)
AMERICAN RAILWAY EXPRESS CO.—Incorp. In Delaware June 22
1918, to act from July 1 1918 during the period of Federal control of rail¬
as the Agent of the Director-General of Railroads In
conducting the
express business of the country.
Took over the express business and prop¬
erty devoted to that business of all of the former express companies In the
United States, which, in 1917, did a apross business of over
$200,000,000.
The new company was formed under Federal auspices and in a
great meas¬
roads
ure
Its
operations will be subject to Federal control with respect to rates,
service, &c.
The property devoted to the express business includes approxi¬
mately 20,000 motor and horse vehicles.
V. 106, p. 2346, 2452; V. 107,
p. 1580.
As to Increase in rates see V. 107, p. 84, 183, 1194, 2010.
On Nov. 18 1918 the Federal Govt, began the active direction of the
company'8 operations.
V. 107, p. 2010, 1978.
Increased rates took
effect in July 1918 and again Jan. 1 1919.
V. 107, p. 2065.
In
1920
a
proclamation issued
as
on Dec. 24 1919 President Wilson fixed Mar. 1
the date for the termination of Government control of the express
companies.
V.
109,
p.
2405.
STOCK.—The total auth. cap. stk. is $40,000,000, of which $33,000,000
to be issued to pay for the physical property taken over and also to
was
furnish cash working capital.
at par
for cash.
The three old
No other qapital stock will be Issued except
V. 106, p. 2453.
companies own the stock of the American Railway Express
[Wells Fargo, $10,466,700; Adams (net), $6,654,30u; American, $12,271,000], but receive no guaranty of income from the Administration for the
of their properties. V. 108, p. 271; \
109, p. 979.
use
.
COMPENSATION.—The Director-General will receive 50M% of oper'g
(or gross earnings), and out of the balance the express company
Organized by Electric Bond & Share Oo. of N. Y., and Is controlled by Inter
revenues
ests
will pay operating expenses and taxes and a dividend of 5 % on its capital
stock.
Out of the next 2% available for distribution the express company
will receive 1% and the Government 1%; out of the next 3% available for
closely allied therewith.
Controls through stock ownership Kansas Gas
(Ore.) Gas & Coke Co., Pacific Power Sc Light Oo.
& Elec. Co. and Portland
Nebraska Power Co. and Southwestern Power & Light Co.
(see each com¬
pany).
V. 106, p. 1897.
Subsidiaries serve (either directly or through
controlled companies) a total of 230 communities.
They supply electric
light and power to 197 communities, artificial gas to 39 communities,
natural gas to 6, water service to 7, street railway service to 3, interurban
railway service to 3, ice to 1.
Total population served est. at 1,536,575.
STOCK, &c.—With the 6% gold notes of 1911 were Issued transferable
option warrants giving the holder of the warrants -an option at any time
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
Apr. 1920.
On com., 1913 to June 1920, 4% per annum (1% Q.-M.).
Holders of record Feb. 211916 of preferred stock and voting trust certifi¬
cates and warrants for its common stock on Feb. 21 had subscribed for
86% of an underwritten issue of $6,984,300 6% gold debenture bonds
distribution the express company will receive 1 % and the Government 2 %
any further amounts available for distribution will be divided, one-quarter
to the express company and three-quarters to the Govt.
V. 106, p. 2452
No allowance Is made in the capitalization of the new corporation for
the goodwill or other intangible assets of the existing companies, and these
companies will not only retain their outside investments, but they will con¬
tinue to carry on their business in money orders, travelers' checks, travel
department, foreign exchange and foreign freight, and will retain their
banking and foreign organizations, the new corporation acting as their
agent in these matters.
EARNINGS.—For the 12 months ended
Dec. 31 1919 the deficit shown
by the American Railway Express Co. was $24,111,741.
met by U. 8. RR. Admin, (see V. 168, p. 1891, 2124).
This
must
be
INDUSTRIAL STOCKS AND BONDS
J 46
Dale
Par
Amount
page]
Value
Outstanding
%
American Shipbuilding—btooa common $i5,UU0.0Ud ——
Preferred (a & d) 7% non-cumulative $15,000,000
American Smelters Securities—Stock
100
Smelting &
Ser A callable at par from
The operating
$50,000,000- —
Oct 1 *30
Rosita C & O Co 8 F bonds (gu p &
100
- —
1917
100 &c,
1919
Cec.*&r*
int) red $100-xxxe*G
500 &C
12 months ended Dec. 31 1919
deficit after taxes for the
follows:
is reported as $25,105,945, as
OFFICERS.—Pres., George C. Taylor; Chairman, B. D. Caldwell
Seven Vice-Presidents in charge of operations, traffic and accounting, with
F. P. Small, Secretary,
New York; and F. S. Holbrook,
Vice-Pres. & Treas.,
New York.
D. Caldwell (Chairman), G. C. vTaylor, Charles
M. Barrett, C. A. Peabody, IT. W. De Forest, J. H. Schiff,
Alexander, C. D. Norton, J. G. Milburn, Albert
65 Broadway, N. Y.—(V. 110, p. 80.)
DIRECTORS.—B.
W.
Hayden,
J. Horace Harding, J. 8.
H. Wiggin. Gen. offices,
CO.—ORGANIZATION.—Originally incorp. 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;
(c) at Zanesville, O., sheet mills for making specialties; (d) controls all its
AMERICAN ROLLING MILL
raw
material and is the owner in fee of coal
mines and coke ovens in Fayette
County, W. Va., and limestone quarries in Franklin County, O.; one-third
owner in the Portsmouth (O.) Solvay Coke Co., and in iron ore properties
in
Michigan and
Minnesota, and has substantial interests
lines on the Great Lakes.
in steamship
•
capacity of the open-hearth steel works in Sept. 1919 was 400,000
gross tons per year, but it could finish only about two-thirds of this capacity.
When the proposed new mills are Installed company will be able to finish
its entire capacity.
The new pref. stock is for the purpose of adding this
add!tional finishing capacity.
The
increasing its outstanding com.
$12,400,975 and was bringing out $7,000,000 of
CAPITAL STOCK.—In Sept. 1919 was
stock from $9,900,975 to
authorized
an
of this $7,$1,300,000 6% pref. stock. V. 109.
The $439,OuO notes due April 1 1920 were paid off
.v-.' \
V'';/ 'V:,,\
issue $20,000,000 Debenture pref., $1,300,000
000,000 being issuable only to retire the
372, 478,
p.
1081.
maturity.
at
DIVIDENDS.—Dividends on the com. stock of the present company
have been paid as follows:
Jan. 15 and Apr. 15, 1920,
Oct. 15 1917 to Oct. 15 1919. incl., 2% quar.;
3%; extradivs. of 3% paid Oct. 15 1917 and 1%
1919.
Stock divs. of 5% on the com.
each quarter thereafter to Oct. 15
stock were paid Feb. 1 1918, Feb. 1
1919 and Jan. 101920. V. 109, p. 1275.
5 years beginning July 1
depreciation and all taxes (incl. Federal taxes)
EARNINGS.—The average yearly Income for
1914, after providing for full
$2,601,905.
The yearly profits for the last 3 years on
the same basis were:
Year ending June 30 1917, $3,070,401; 1918, $4,588,087; 1919 (to May 31), $2,249,815.
President, G. M. Verity, Middletown,
Ohio.—(V. 110, p. 80, 169, 1090.)
and all interest, was
CORP—ORGANIZATION.—Incorp.
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 Co. and will merge the same with New
Jersey Leather Co.
The American Safety Razor Export Corp. was formed
in Del. Oct. 21 1919 with a capital of 400,000 shares, no par value, and wrill
acquire all the foreign rights, trade-marks, &c., of the American Safety
Razor Corp. in the foreign countries where subsidiaries are to be established.
The Virginia company will own 51% of the Export Corp.
The American
Safetee Soap Corp., a subsidiary, was organized in Dec. 1919.
See V. 109,
AMERICAN SAFETY RAZOR
about
Sept. 20 1919 in Virginia as a
1181, 1611, 2441.
p.
CAP.
STOCK.—Auth. and outstanding, $20,000,000; par $25 ($7,500,-
000 of the outstanding stock is held in a voting trust
No, pref.
expiring Sept. 22 1924
stock or bonds.
OFFICERS.—Chairman of Board & Vice-Pres., George L. Storm; Pres.,
Joseph Kauffman; Sec., Milton Dammann; Treas., Julius B, de Mesquita.
—(V. 109, p. 1611, 1794, 1988, 2441; V. 110, p. 1644, 2194.)
LATEST
ISHIP
AMERICAN
& 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 $4,418,700 capital stock (v. t. c.), total authorized,
$6,250,000, of Wm, Cramp Sons Ship & Engine Building Co. (see statement
above) and 82,568 shares, no par value, of American Ship & Commerce
Navigation Corp. (V. 109, p. 372).
The latter company was incorp. 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,
on Sept. 4 1919
acquired 8 ocean steamships of 50,915 D.W. tons from the
Kerr Navigation Corp., and as soon as legal details of dissolution of the
present Kerr Navigation Corp. can be completed the American Ship &
Commerce Corp. will change its name to Kerr Navigation Corp.
Acquired
additional tonnage in the latter part of 1919, making an aggregate of 77,605
dead weight tons.
a
EARNINGS.—Combined statement of earnings and income (including
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.
Kerr Navigation Corp.)
F. Kerr and J. K.
Harry Williams, Jr.—V. 110,
OFFICERS.—Pres., George W. Goethals; V.-P., H.
Sec., Kermit Roosevelt;
361, 1086, 1190, 1850.
Trimble;
p.
Treas.,
AMERICAN SHIPBUILDING CO.—Incorp. in N. J. March 16 1899.
V. 68, p. 770; V. 70. p. 896; V. 71, p. 344,1014; V. 73, p. 390: V. 83. p. 1172.
Decision, V. 94, p. 1765; V. 95, p. 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 1918-19 (V. 109, p. 1362), says: "Dining the fiscal year
109 ocean cargo ships of 422,800 gross tons capacity were completed and
delivered.
The company has yet to complete and deliver to the U. S.
Shipping Board Emergency Fleet Corp. 63 ocean cargo ships, of 255,900
gross tons carrying capacity.
Construction work has been delayed by
changes ordered by the Fleet Corp. and restrictions imposed limiting the
hours of labor.
No penalties, however, will accrue through delays in
delivery."
May
Cleveland, Ohio
See text
5 g
A
6 g
M
1
'20
,
do
IK
1 ^ 120 Broadway.New York
do
do
1 K
1% 120 Broadway.New York
do
do
June 1 1920 1K
Central Trust Co. N Y
O Apr 1 1947
Q-J
Q—J
Q—M15
Q—M
5
&
Apr 1 1(20
Apr 1 1020
June 15 '20
New York
N Nov 1 1924
&
('10. '11. '12. '13. '14. '15. *16.
Liberty bonds
Preferred
'17. '18. '19. 1920.
]
DIVS.
Commoncash
7y%
4
0
0
7
7
—
7
7
0
0
0
—
6
I
__
1%
0
__
7
See
16
12
15
text
—
UK Q-J)
In
1917, also 1% for Red Cross.
In cal. year 1919 paid each quarter on common beginning Feb. 1, 1M%
and
% extra in cash.
Same amount paid in Feb. and May 1920.
In
1917 also 1% for Red Cross.
^
REPORT.—For year ending
June 30 1919 in V. 109, p. 1362.
1918-19.
1917-18.
--$21,659,951 $17,067,991
1,931,641
Deduct—General, &c., exp
2,624,518
207,924
315,366
State, county & miscellaneous taxes.1,736,240
Federal taxes in excess of prev. appr_
693.847
945,931
Depreciation
1,723,459
3,606,011
Maintenance & repairs
4,000,000
7,000,000
Spec, allow, for exc, prof, taxes, &c__
147,815
Amort, of perm, assets to pre-war val_
2,949,511
Total
1916-17.
5,617,985
income
Interest
on
bonds and notes payable.
424,310
150,110
122,308
603,040
750,876
400,000
•
19,301
_
434481
Adj. of Liberty bonds
(13M%>1.045,000(11^)893,000 ' (7)532,000
(10%)760,000
(5)380,000
(7%)553,000 (7)553.000(103^)829.500
Com. divs. (cash)
do
(Lib, bds.)
Pref. dividends
—
Balance, surplus
$1,426,434
$4,800,266
$1,786,540
Pres., M. E. Farr, Detroit; Treas. & Asst. Sec., John S. Gorman.
Office,
Cleveland, O.—(V. 109, p. 1275, 1362, 1528.)
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.
STOOK.—Pref. "A" Is preferred over "B"
Is set aside from income for retirement of "A"
1%
fore
There
only as to dividends.
stock at par yearly on July 1
pref. stock ser. "A" and a further sum equal to 6% on stock thereto¬
on
purchased; redeemed in 1914 to 1919 $1,185,700; in treasury Am, S. &
Ref. Co., De6. 31 1919, $6,214,600; in hands of public, Dec. 31 1919,
$9,599,700.
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
$30,000,000 common stock aod guarantor of the $30,000,000 pref. "B"
stock, offered to give In exchange for pref. "B" Its own 1st M. 5s of 1917.
$ for $.
On Dec. 31 1919 $26,851,700 of the $30,000,000 had thus been
exchanged.
V. 105, p. 608; V. 104, p. 363.
In May 1917 the holders of the (uncalled) $16,256,400 Series A pref.
stock 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 1919 $6,214,600 of the issue was held in treasury.
V. 105, p. 608.
both classes of pref. stock in full to Apr.
pref. "A," 5% on pref. "B" (now Q.-J.).
1
DIVIDENDS.—On
6%
ou
1920.
Office,
OFFICERS.—Pres., Simon Guggenheim; Sec., W. E. Merriss.
120 Broadway, N. Y.—(V. 110, p. 1286.)
AMERICAN SMELTING & REFINING CO.—ORGANIZATION. &c.—
Incorporated April 4 1899 under laws of New Jersey; V. 68, p. 668.
Owns
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 sliver, pig lead, electrolvtie 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 mines in Mexico, see V. 108, p. 1159. 2213.
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.
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.
AMERICAN SEWER PIPE CO.—Name changed in Aug. 1919 to Amer¬
ican Vitrified Products Co.—V. 109, p. 478, 599.
O—F
6
31,756,600
1,290,000
do
Apr 15'20 IK% Check
Jan 15 1920 IK Check
Q—F
60.99S 000 4 in 1919
50,000.000 7 in 1919
100
Payable
are
Check
See text
Q—J 15
Q—J 15
Q—J 15
Where Interest and
Dividends
Maturity
New
9,590.700
3,148,300
100
100
and
Pa.ga.ble
7,600,000 16inl919
7.900,000 7 in 1919
100
$17,000.000—
$30,OOO.OiKJ—Refining—Common stock $05,000,000
Preferred stock (a <3e d) 7% cumulative
1st M
20.000,000
512,740
25
held? y public.
7
See text
100
None
— -
6
See text
100
Preferred (as to dlv) "A" 6% cum red par
Preferred "B" 5% cumulative guaranteed
American
See text
$25 $12,400,975
American Rolling Mill—Common stock $20,000,000--- —
Pref stock 6 % $ 1,500,000
—
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 sharesBonds, &c, see Cramp Ship & Engine Building Co
.
Places
Last Dividend
When
Rate
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on first
[Vol. 1L0.
*
DIVS.—
('06. '07. '08. *09-*11. '12. '13-'15. *16. '17-T8. 1919.
Common (%)
7
73^ 5
4 yly. 4 2-3 4 yly
4 3-3 6 yly
4
Corn., extra—
Julyl917,l,R.C.
In 1920: Mar. 15, 1%; June 15, 1%..
In Mar. 1919 the quarterly dividend was reduced from IA% to
V. 108, p. 582, 1159.
__
__
—
1920.
See
text
1%.
arranged to make a 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 $30,000,000 common stock of the American Smelters Securities Go. (and all of its
"A" and "B" stock surrendered) and the entire stock of Consol. Kansas City
Smelb. & Ref. Co., &c.
V. 104, p. 363; V. 105, p. 608; V. 108, p. 880.
The Initial $30,000,000 series "A" 6% bonds were offered in Jan. 1917
In exchange for the "B" stock of the Amer. Smelters Securities Co., $ for $.
BONDS.—In Jan. 1917 the company
bond issue, limited In amount to the par amount of the full
and common shares at any time outstanding, and issuable
These bonds like the "B" stock are subject to call on and after Oct. 1 1930,
all
or
of
the
Annual sinking fund beginning In 1918.1H%
part, at par and Int.
of bonds
at any time Issued.
In May 1917
pref. stock were
Series "A" bonds, plus 7t£% cash.
capital of the Securities Co., there remained
in hands of public only $9,599,700 Ser. A and $3,148,300 Ser. B pref. and
there were outstanding $3,175,600 Am. Smelt. & Ref. 1st M. 5s with a
further $985,000 in sinking fund and $499,000 in treasury.
As to $1.325,000 guaranteed 5-year 6% sinking fund goid bonds of Rosita
Coal & Coke Co., dated Nov. 1 1919, see V. 109, p. 1799.
maximum
amount
holders of the Securities Co.'s total uncalled Series "A"
offered in exchange at par in
In April 1920 of the share
REPORT.—For 1919, in V.
110, p. 1286, shows:
Calendar Years—
1919.
Gross income--
Admin.. &c.
——
-—
-
Debenture interest (Sec. Co.)
Bond interest (S. & R. Co.)_
Int. on Rosita C. & C. bonds
Pensions, &c
Charges, profit & loss
1917
$14,695,743 $18,311,567 $31,602,616
$1,016,452
$1,305,934
$1,482,458
814,276
1,252,356
3,849,971
5,201,980
5,439,631
4,954,483
expenses-
Taxes (incl. Federal taxes)
Depreciation
1918.
---$11,569,384 $13,234,711 $24,125,684
1,816,869
2,686,840
4,069,243
_1,309,489
2,390,017
3,407,689
Smelting, refining, &c
Mining properties
Other income (net)
25 450
—-
1,616", 109
1,605,949
l,208i798
11,414
-
250.666
-----
—
450,087
'
100,665
740,038
985,831
May, 1920.]
INDUSTRIAL STOCKS AND BONDS-
147
Date
Par
Amount
Rate
When
Bonds
MISCELLANEOUS COMPANIES
IFor abbreviations, &c., see notes on first page]
Value
Outstanding
%
Payable
Last Dividend
and Maturity
Places Where Interest and
Dividends are Payable
"
American Snuff—Stock common 511,000-000
*
New preferred (a & d) 6% non-cum $4,000,000
$100 $11,000,000 12inl919
100
'3,952,800 6 In 1919
»
...
Debentures 53.43rt.800 redeemable at par (text).
American Stores Co—Stock
common
__x
100
100 &c
None 142.240shrs
100
3,583,200
100
1,457,000
100
45,000.000 10 in'19
100
45.000.000 7 tn 1919
1908
150,000 shares
First pref (a & d) 7% conv call 115 $7,000,000
2d pref 7% conv stock $2,000,000
American Sugar Refining—Common stock $45,000,000—Pref stock 7% cum (not pref as to assets) $45.000.000
American Sumatra Tobacco Co—Com stock (see text)
100
.—
Pref stock (pref. A. & D.) $2,000,000 7% cum call
Convertible notes—see text
American Smelting Sec. Co.—
life insurance fund
100
110
1917.
1918.
1919.
161,176
165,219
$500,000
699,572
513,094
3,500,000
3,500,000
3,500,000
....
Pref. A div,
(6%)
Pref. B div.
(5%j-
$580,146
American Smelt. & Ref. Co.—'
Preferred dividend (7%)
Common dividend
Total p. & 1. surplus Dec. 31 1919,
EARNINGS for 3
mos.
$104,834
$9,513,099
$25,974,571.
ended Mar. 31 1920: Gross revenue, $20,140,429;
net
earnings, $17,800,291;
balance, $4,212,572.
$4,747,845;
interest,
dividends,
$8,839,873;
DIRECTORS.—Edgar L. Newhouse, Chairman; Simon Guggenheim,
President; Daniel Guggenheim, Isaac Guggenheim, Murry Guggenheim,
Walter T. Page, W. S. McCornick, G. P. Bartholomew, Frank W. Hills
(Compt.), Charles Earl, Willard S. Morse, John N. Steele, Joseph Clendenin (V.-P.), John C. Emison (Treas.), H. A. Prosser, H. R. Wagner,
R. W. Straus, William Loeb Jr., O. W. Whitley (V.-Pres.), W. M. Drury,
F. H. Brownell (V.-P.), L. G. Eakins, H. A. Guess, O. A. H. de Saulles,
Edgar R. Reets, Frank R. Raiff, W. E. Merriss (Sec.), and E. B. Schley.
Office, 120 B'way, N. Y.—(V. 110, p. 873, 1278, 1528.)
SNUFF CO.—Incorporated in N. J. on March 12 1900.
Under plan of disintegration of Am. Tobacco Co.
(V. 93, p. 1122-4), the
assets remaining were large modern grinding factories at Yorklyn, Dei., and
Clarksviiie, Tenn., and finishing works at Memphis, Tenn.
Since disin¬
tegration a new large and modern grinding plant has been erected at Mem¬
phis, Tenn., and the Yorklyn, Del., plant sold.
In May 1915 the auth.
stock was reduced.
V. 93, p. 280; V. 93, p. 1603; V. 100, p. 1439.
AMERICAN
"08. '00. *10. '11. '12. *13. '14. '15 to '17. *18, 19. 1920
13
19
20
20 12)4 12
9
12 yly.
10 12
See
4
9
3
3
2)4
text.
In 1920: Jan., 2%; Apr., 3%.
Also in Dec. 1911, 34 4-11% each in com. stock of Geo. W. Heime and
Weyman-Bruton companies (V. 94, p. 280); In July 1913,10% in Amer. To¬
bacco Co. pref. stock and 4.54% or Amer. Cigar Co. pref. stock (V. 96, p.
1631).
In Oct. 1914, distributed P. Lorillard Co. and Liggett & Myers
Tub. pref. stock out of surplus, making .02204 6-11 and .03127 3-11 of a
share, respectively, on each share of common stock.
V. 99, p. 676,1676.
LATE DIVS.
Common
do extra
%
—
,
REPORT.—Report for year ending Dec. 31 1919 in V. 110, p. 968:
Calendar Year—
1919.
1918.
1917.
1916.
earnings.
_t$l,774,412 tSl,533,893 t$l,504,645
$1,899,686
Pref. dividends (6%)__.
237,168
237,168
237,168
237,168
Common dividends.(11 %) 1,210,000(11) 1210,000(11) 1210,000(12) 1320,000
Net
Balance, surplus
$327,244
$86,725
$342,518
$57,477
t After deducting Federal and war excess profits taxes.
Pres., Martin J. Condon; Treas., M, E. Finch,
Office, Memphis, Tenn.
—(V. 109, p. 2173; V. 110, p. 968, 972.)
AMERICAN
FOUNDRIES.—ORGANIZATION.—Incorpor¬
STEEL
ated in New Jersey on June 26 1902.
V. 79, p. 1463; V. 80, p. 224, 602:
Y. 83, p. 685,1575; V. 103, p. 495; V. 101, p. 1373.
In July 1919 purchased
the Griffin Wheel Co. (V. 108,
2443, 2331, 2435) leaving most of the iatter's $5,849,300 6% cum. pref.
public.
V. 108, p. 2435, 2626, 2631.
Formed
the American Autoparts Co. in 1919 (practically entire stock owned), which
is building a plant in Detroit for the manufacture of automobile springs,
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
7% cum. non-voting pref. stock, and also (2) to change the par value or
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
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 6(f 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
most of the $8,755,600 common stock or
p.
stock in the hands of the
_
Co.
stock.
BONDS, &c.—$344,000 par value of 4% debentures were retired during
1919, reducing the amount outstanding to $1,028,800; on May 29 1920,
S^repayabie'n stock.
3M
Com
ef.
2H
^^
^
2
2
IX
6
7
^
6)4
3)4
see
text
Vn
Liberty bonds.
Initial divn end on pref. stock was paid Sept. 30 1919.
Jan., 2)4%; Apr., 2)4%.
AlsO-21^
REPORT.— Year_1919, in V. 110, p. 1079
Cal.
Cross
Net, after
Other
Res.,
cfee,
Years.
Sales.
Deprecn. Income.
S
$az
1920(3 mos.)
1,939,222
1918
122,215
In 1920
(on com.)
shows:
Dividends
Paid.
Balance,
Surplus.
646,142
5,774,529 340,478 2,223,241
49,113,098 4,015.825 173,599
1,803,327
1917—49.369,584 7,800,649 238,025
3,013,008
1919 hot stated
1,800,445 2,091,321
1,632,480
753,617
1,031,040 3,994,626
DIRECTORS.—Charles Miller, R. P. Lamont, F. E. Patterson, K. L.
W.*D. Sargent, Geo. B. Leighton, Max Pam, John M. Harri¬
E. F. Goltra, Geo. E. Scott, R. H. Ripley,
President, Robert P.
Lamont; First Vice-Pres., Geo. E. Scott; Second Vice-Pres., R. H. Ripley;
3d V.-P., Warren J. Lynch; 4th V.-P., J. C. Davis; Treas. & Sec., F. E.
Patterson; Asst. Sec. & Treas., W. Epple; Compt.. Thos. Drever; Gen.
Ames,
son,
Counsel, Max Pam.
1975.)
Office, Chicago.—(V. 110, p. 563, 1079, 1090, 1190,
AMERICAN STORES CO—ORGANIZATION.—Incorp. in Dela.
March 29 1917.
Owns 34,700 shares of the 35,000 shares of common
stock of the Acme Tea Oo. (see above), and also the business and assets
of the following chain store companies: Robinson & Crawford, the Bell Co.,
Childs Grocery Co. and George M. Duniap Oo.
Weekly baking capacity
about 2,000.000 loaves and 25 tons of cake.
As at Jan. 1 1919 was op¬
erating 715 stores ia Penna., N. J., Dela. and Md, against 752 In 1916.
Deals In food products, coffees, groceries, meats, etc.
(V. 104, p. 1491.
STOOK.—The pref. stock Is convertible prior to Jan. 11927 Into common
stock, 11-3 shares of common for one of pref. Divs., Q.-J. Sinking fund,
2% per ann. from July 11918.
Net tangible assets must be 125% of pref.;
Apr 1 1920 3% Memphis,
do
Apr 1'20 1)4 %
14,901,800
1,963,500
10^ '19
Tenn
do
See text
Checks mailed
Mar3l'20 1 54%
do
do
Feb 1 1923
Guaranty Trust Co. N*Y
July 1 1920
$1
July 1 1920 1M Philadelphia
do
July 1 1920 \ K
Oct 2'20 2)4% Checks mailed
Q—J
O—J
Oct 2 20 l%%
do
Q—F
May 1 1920 2)4
M &
S Sept 1 *20
3)4
Q—J
net quick assets, 75%.
Default gives 1st pref. voting power till default is
The $3,418,300 1st pref. in reserve is only issuable under restric¬
tions.
There are neither bonds nor mortgages (except purchase money
cured.
mortgages) and none can be created, nor authorized pref. stocks be increased
of outstanding pref. issues. (V. 104, p. 1491,
1705, 2013.
All classes of stock listed on Philadelphia Stock Exchange in
June 1919. V. 108, p. 2435.
Initial'dividends of 1 % % paid on tae 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 54 % each (quar.) and in Oct. paid
154% on 1st pref.
Jan. 2 1919, 154% on 1st and 2d pref.
April 1 1019,
154% on 1st pref.; July 1919 to July 1920, 154% on 1st and 2a pref.
V.
104, p. 2554.
Initial div. of $1 on common stock paid April 1 1920; same
without consent of 66 2-3%
(4)2,439,920(5H,3354890(7)4,269,860
;.i.def.Sl,085,658
Surplus
$582,555
Q—J
Q—J
17,184,000 See text Q—A 15
7
8,481,300
Q—M31
K
&
A
4
1.028,800
1-3
American Steel Foundries—Stock ($25,000,000 auth)
Pref (a&d)stock7 %cum non~vot$25mil call 1101922 s.fd .1 %
amount
paid July 1 1920.
REPORT.—For calendar year 1919 shows:
1919.
Gross
1918
1917
_-$76,40i.899
.
$62,315,465
$58,123*,807
63,378,895
sales
52,018,770
49,067,507
$13,022,995 $10,296,695
9,109,920
7,695,510
$9,056,300
6,848,584
Cost goods sold
Gross profit
Expenses.
-
.....
Net profit
Preferred dividends and sinking fund.
$3,9)3,075
1,453,458
629,173
$2,601,185
1,347,560
917,934
$2,207,716
709,446
415,215
Surplus
$1,830,444
$535,691
$1,083,054
Taxes and other deductions.
OFFICERS-—Pres., Samuel Robinson; Sec. & Asst. Treas., E. J.
Directors.—Samuel M. Clement Jr.,
Flanigan; Treas., Win. M. Robinson.
Joseph Gilfillan, Samuel Robinson, Robert H. Crawford, Wm. M. Crowe,
George M. Duniap Sr., John Eagleson, Geo. R. Pelouze, J. K. Trimble
and P. W. Bacon of Chandler & Co., Inc., and Charles Counselman.
Chicago.—(V. 110, p. 765, 1190, 1850, 2077.)
AMERICAN
STRAWBOARD CO.—(V. 109,
p.
74, 174.)
AMERICAN
SUGAR REFINING
CO.—ORGANIZATION.—Orga¬
Jersey in Jan. 1891.
For plan, V. 51, p. 609 (see also V. 91,
p. 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.
Announced in
Dec. 1919 that a new refinery would be erected at Baltimore.
V. 109, p.
2358.
The company's refinery in New Orleans, formerly held in reserve,
is now dismantled.
For acquisition of Central Cunagua, Cuba, see V.
109, p. 1988.
The company's investments in Dec. 31 '19 were carried at $44,557,960
which is said to be much below actual value. V. 106, p. 2231. They include:
nized in New
Beet Sua. Cos.
Cminority)— Par val.
Beet Sug. Co. (minority)— Par val.
Iowa Sugar Oo__
$416,500
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
Total, par, $16,636,750; market (unofficial Dec. 1 '17), $29,989,282.
Company's book value.
$10,302,410
Other investment securities at book value, Dec. 31 1919: Included are
National Refg. Co. (par $2,482,900 out of $10,000,000); sundry properties,
including West Street building.
The sugar Investment alone, it is stated, produced in 1917 an Income of
$3,896,678.
V. 106, p. 2231, 1346.
For references to beet sugar items,
Government and other litigation, &c., see issue Feb. 1918, p. 144.
In¬
creased dividends in 1917 on stocks owned: Great Western Sugar Co.,
V. 105, p. 2188; National Sugar Refining, V. 105, p. 2189.
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.
Other litigation, V. 104, p. 5^1, 1041.
Alameda »ug. Co. (par $25) $371,250
Continental Sugar Co—739,000
DIVS.—
{1891.
Common .%\
8
do
extra-l
1892. 1893.
9
22
...
1894. to 1899.
1900.1901 to Oct
REPORT.—For year end. Dec. 31 1919, in V. 110, p. 1081.
Net
Net
DepreInsurance,
Cal.
2 '20.
12 y'ly (3 Q-J)
6J4
7 y'ly (154 q-J)
July *18to Oct'20,3% (54% quar.)
Balance,
Yr.
Profits.
Income.
ciation.
Impt$.,&c. Dividends.
Surplus.
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 2,153.111
7,312,470
1,121,906
1917..10.055.291
14,212,787 2,000.000 4,000,000 6,299,972
1,912.815
Total surplus Dec. 31 1919, $23,152,138; total cash in hand, $28,161,879.
DIRECTORS.—Earl D. Bahsb (Pres.) Washington B. Thomas (V.-P.)»
George H. Frazier (V.-P.), Albert H. Wiggin, Geo. F. Baker, Jr., James
H. Douglas, Samuel Carr, Philip Stockton, Samuel McRoberts, Edwin
S. Marston, Charles H. Allen and Edwin F. Atkins.
Other Officers.—V.Pres., Robt. M. Parker, W. Edward Foster, Ralph S. Stubbs, Edw. Y.
Croffmore; Treas., Arthur B. Woolan; Comp., Henry Edgecombe.
Executive Committee:
Earl D. Babst, George H. Frazier, Edwin S.
Marston. Samuel McRoberts, Washington B. Thomas, Albert H. Wiggin.
N. Y. office, 117 Wall St.—(V. 110, p. 80, 361, 660 ,1081, 1190, 2077".
AMERICAN SUMATRA TOBACCO CO—ORGANIZATION.—Incor¬
porated In Ga. Feb. 12 1910 and is engaged in the operation of tobacco
plantations, raising, curing, sorting and merchandising of cigar wrapper
tobacco. At organ, acquired the facilities and business in Gadsden County
Fla., and Decatur County, Ga., of eight established tobacco plantation cos.
Has since purchased Connecticut property; also A. Cohn & Go. V. 108,
p. 2023. Sumatra Sales Corp., see V. 106, p. 1579.
In Oct. 1919 acquired
the Griffin Tobacco &o. 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.—The stockholders voted Aug. 6 1917 to increase the pref.
stock from $1,000,000 to $2,000,000 in connection with the purchase or the
Connecticut Tobacco Corporations V. 105, p. 391, 608, 1311. Initial divi¬
dend on common stock, 1%, Aug. 15 1917;Nov. 11917,1)4%; Fob. 1 1918,
1M%; May, 2%; Aug. 1918 to May 1920, 2)4% .quar.
V. 107, p. 183.
The shareholders voted Aug. 29 1918 to increase the authorized common
capital stock from $7,000,000 to $15,000,000.
Of the new stock $1,022,100
was issued Dec. 7 1918 as a stock dividend of 15%.
In July 1919 there
was a further increase of $5,696,900 in the outstanding common stock, due
to the exchange therefor or a like amount of the $5,878,200 10-year 7%
convertible debentures [offered at par to shareholders of record May 20 1919.1
In Jan. 1920 the New York Stock Exchange authorized
he listing of
$1,000,000 additional common stock, making the total amount authorized
to be listed $14,901,800.
This new stock was issued in payment of the
entire $300,000 common stock of the Griffin Tobacco Co.
Compare V. 107,
p. 404, 606.2010; V. 108, p. 2023,2243; V. 109, p. 75; V. 107, p. 404, 606,
2010, 2190.
148
t
INDUSTRIAL STOCKS AND BONDS
MISCELLANEOUS COMPANIES
[For abbreviations. Ac.,
see notes on
American Telegraph & Cable—Stock 5% rental
American Telephone & Telegraph—Stock $750,000,000
Collateral trust mortgage gold (V 70, p 40)
OB.zo*
Bonds, no longer convertible, call 105 (text)—OB.xxc*Ar*
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 Msum.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, thiol Bac*
3-year notes call at 102
Ba.c*
195 Broadway Corp. and other notes endorsed
American Thread—Pref (a & d) stk $6,000,000 5% cum g or £
.First mortgage $0,000,000 gold
G.xxxc*
American Tobacco Co—Com. stk ("A") $50,000,000 autn.
Class B (non-voting) $50,000,000
Preferred (a A d)% $54,010,600 (see text)
Gold bonds tnot mortgage) $50,100,000 auth
G.xc'&r
Gold bonds (not mortgage)
G.xc&r*
Consolidated Tobacco ooli trust mtge gold
O.xc'&r
Serial gold notes due serially Nov 1 call text
Q.xxxc*
Dividend scrip payable at maturity at holders* option,
either in cash
or
Class B common stock Series A to E._
Par
Value
.
1899
1906
1913
1916
common
Amount
Rate
When
Outstanding
%
Payable
100
12,929.000
Ac
1918
1,000
100 Ac
48,367,200
40,000,000
6
50,000,000
8,303,000
4,890,475 5"in'l§!9
6,000,000
6 g
40,242,400 See text
I8
100 Ac
100 Ac
100
See
100
1901
1918
18-T9
Ac
An
/
1,000
various
were to vote June 1 1920 on authorizing an increase in
stock from $15,000,000 to $25,000,000.
At a recent meeting
the directors authorized, subject to
the increase of the common stock by the
stockholders, an issue of $6,564,000 Five-Year 7M% Sinking Fund Don v.
gold notes.
Convertible from Oct. 1 1920 to Dec. 31 1921 into common
stock on the basis of 9H shares of stock for each $1,000 of notes, and there¬
after 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 outstand¬
ing is provided for.
The notes will be offered to pref. and common stock¬
holders of record May 24 1920 for subscription at 98 and int.
The holder
of each share of stock will be entitled to subscribe to $40, face value, of notes.
Compare V. 110, P. 2194.
NOTES, Ac.—The final $850,000 of the $1,250,000 5% notes of 1916 was
paid at maturity Jan. 15 1919. V. 108, p. 271.
For further expansion of the business $6,000,000 7% Sinking
Fund
Convertible debentures were brought out in 1919, $5,879,000 thereof being
underwritten and offered at par to shareholders of record May 20.
These
debentures were made exchangeable at option of holders for common stock
(a) for first 30 days, par for par; (ft) thereafter $110 of bonds for $100 stock
with adjustment of interest and dividends.
Sinking fund beginning in
1921, 5% of bonds then outstanding.
On July 31 1919 all except $181,300
of these debentures had been converted into stock as above stated and the
remainder were called for payment April 1 1920 at 105.
See also V. 108,
2024; V. 109, p. 75.
New convertible notes—See under "Stock" above.
EARNINGS, 0 months ended Jan. 31 1920: Sales, $5,999,537; cost of
sales, $4,183,254; total income, $1,832,258; net income, $1,457,178; divid¬
ends, $745,328; surplus, $712,650.
REPORT.—For year ending July 31 1919, V. 109, p. 1176.
Year Gross Prof.
Net.
xTax,&c. Pref.Div.
Com. Div.
Bal., Sur.
18-1911,708.334 $1,292,066 $404,580 (7)$137,445y(10)$900,248 def$150,207
17-18 3,731,633 3,214,6551,069,605 (7)137,445 (7*4)528,077
1,479,528
16-17 1,780,364 1,409,909
390,302
(114) 68,000
951,607
x Includes in 1918-19 depreciation, $150,000; bond and note int., $45,361;
amortization, $35,269; reserve for taxes, $129,560 (in 1917-18, $1,000,000),
and miscellaneous, $44,390.
y Also paid
15%, $1,022,085, out of the
surplus account.
OFFICERS.—Julius Lichtenstein, Pres.; V.-Pres., Wm. A. Tucker,
Fred. B. Griffin, Frederic Lederer; V.-P. A Sec., Frank M. Arguimbau;
Treas., Stephen N. Bond.—(Y. 109. p. 74, 983, 1176, *462, 1989; V. 110,
p. 1090, 1644, 2077, 2194.)
p.
AMERICAN TELEGRAPH & CABLE.—Owns two cables between Nova
Leased until 1932 to Western Union.—V. 106.P-710.
Scotia and England.
AMERICAN TELEPHONE & TELEGRAPH CO.—ORGANIZATION
Owns a large Interest, generally a majority Interest, in the capital stock of
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.
Punin patents, V. 72, p. 677; V. 76
p. 332, 696; 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. A T. Co.
V. 97, p. 446
The chief subsidiaries having bonds outstanding are separately described
in this section.
They are: Chicago Tel. Co., Cumberland Tel. A Tel. Co.
New York Tel. Co., Central District Tel. Co., New England Tel. A Tel
Co., Michigan State Tel. Co., Southern Bell Tel. A Tel. and Pacific Tel. A
Tel. Co.
Also see Mountain States T. A T. Co. and Western Elec. Co.
Also owns most of the stock of Western Electric Co., Inc., New York,
manufacturer of electric and telephone supplies, which in March 1918 In¬
creased the quarterly dividend on Its 150,000 shares of common Btock from
$2 to $2 50.
V. 100, p. 1040.
See that co.
Control of Central Union.
V. 104, p. 364; V. 105, p. 182.
In Sept. 1919 offered $100 in its own stock
for each $114.28 of the minority stock of Mountain States Telephone A
Collateral
A.
T.
A
T.
The capital obligations in the hands of the
public Dec. 31 1919 were
$1,058,324,628, of which the outstanding obligations of the American
T. A T. Co. represent $761,384,800 and the associated companies $296,939,828, and appraisals by public authorities, it is stated, indicate a greater
actual value.
The surplus and reserve aggregate $388,574,000.
Net
plant additions during 20 years to Dec. 31 1919, $1,066,017,000.
Govt. Control (July 31 1918 to July 31 1919).—6n 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. 231, 350, 504. Reduced rates effective Jan. 21 1919. v. 107,
p. 2439.
Rate decision in April 1919. V. 108, p. 1513, 2331, 2435.
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 Mar. 30 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. * Of
the authorized capital stock th^re was sufficient reserved to cover conversion
of convertible bonds.
Each stockholder of record Dec. 11 1916 was entitled to subscribe at par,
$100 a share, for 10% new stock in all, say, $39,550,600 (V. 108, p. 1067.)
V. 106. p. 1128; V. 103, p. 1982; V.
p. 1710.
i05.
DIVIDENDS.—July 1900 to July 1906, incl., 7M%
1906 to July 1920, 8% (Q.-J.).
CONVERTIBLE BONDS OF
1918.—An
issue
per annum;
Oct.,
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 will be convertible after Aug. 1 1920 Into stock at 106. The issue was
underwritten.
V. 106, p. 2651; V. 107, p. 84, 292, 698; V. 108. p. 271.
BONDS.—The (closed) $80,000,000 5 %
30-year Sinking Fund Collateral
Trust bonds of 1916 have a sinking fund of 1 % per annum and are redeem¬
able at 105 and int.
See V. 103, p. 1982, 2081, 2157, 2344; V. 105. p. 1710.
Security for 5% Collateral Trust Bonds of 1916 as of Mar. 31 1920.
$10,900,000 stock of New England Tel. A Tel. Co. (V. 103.P. 498).
34.462,000 stock of New York Tel. Co. (V. 103, p. 1122; V. 1Q2, p. 708)
12,208.700 stock of Southern Bell Tel. A Tel. Co. (V. 102, p. 1986.)
14,000,000 stock of Iowa Telephone Co.
4,993,800 stock of Nebraska Telephone Co.
13.600.000 pref. stock of Pacific Tel. A Tel .Co. (V. 102. p. 1883).
do
do
New York and Boston
Old Colony Tr Co. Bos
A
F
A
A
J
A
1 1932
A Aug 1 1925
1 1924
O Oct 1 1922
J July 1 1920
New
A Feb
Boston
do
and
Boston
New York
A
A
See text
text
do
Apr 1 '20 lH7c
Q—J
A
A
O Oct
1
F
A
A
Aug
11951
4 g
F
A
A
Aug
1
7 g
MAN Nov 1 '20 to '23
1944
Guaranty Trust Co, N Y
do
1951
do
do
MAS Mar 1 1921
6
and
York
J Jan 1 '20 2H% Guar Tr Co. N Y, A Lon
D Dec 1 1928
do
NY only
See text
Checks or dlv scrip mailed
Q—M
J
J
6
6 g
4 g
York
do
New
do
do
do
New York
Trust Mortgage of
V. 92, p.
397.)
an amount
not
foslt with trustees of the following stocks and bonds of associated cos.,viz.:
114,511,850, (Est. value, $118,328,052; V. 105, p. 1710; V. 97.
446). par
p.
*Shares—Collateral Mar. 31 1920 for Col. Trust 4s of 1899.
350,000 Chicago Telephone Co
60,565 Cincinnati A Suburban Bell Telephone Co
238,213 Mountain States Telephone A Telegraph Co
71,000 Wisconsin Telephone Co
30,000 Southern New England Tel. Co
147,836 New England Tel. A Tel. Co
_
.
200,000 Northwestern Telephone Exchange Co
100,000 Southern Bell Tel. A Tel. Co.—
New England T. A T. Co. 4% bonds, due 1930
The convertible 4s of 1906 ($150,000,000
Par Value.
$39,000,000
3,028,250
27,500,000
7,100,000
3,000,000
14,783,000
10,000,000
10,000,000
100,000
original issue) are to be ratably
They have been sub¬
secured by any future mtge. or coll. trust indenture.
ject to call since March 1 1914 at 105 and
March 1 1909 to March 1 1918.
were convertible into stock from
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 March 31 1920 by
conversion into stock.
V. 101, p. 1030.
The 20-year 4*i% bonds of 1913 are convertible (a) into stock at 120
since Mar. 1 1915, to Mar. 1 1925, or (b) into an equal amount of stock upon
payment of $20 per share.
They are redeemable at Sept. 1 1925 and there¬
after at par.
Amount out reduced by conversion from $67,000,000 to
$12,929,000 on Mar. 31 1920. V. 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, forecasted by the then present abnormal
volume of business. V. 109, p. 1275, 1368.
In Jan. 1919 also the N. Y. Telephone Co.
(which see below) sold $25,-
000,000 30-year 6% debentures. V. 107, p. 176, 274.
In May 1918 Cleve. Tel. Co. was authorized to Issue $3,000,000 6%
notes to retire notes due May 10, V. 106, p. 2232, 2124; V. 107, p. 84.
There are also outstanding endorsed by this company $4,550,000 notes
of the 195 Broadway Corp. due July 1 1920, which corp. owns the real estate
in N. Y. City, where the co.'s offices are now located. V. 104, p. 1054,1055.
The collateral trust bonds of 1902, made by the Western Telep. A Teleg.
Go., were assumed In Sept. 1912 and will, on application to trustee, be
indorsed with the agreement to pay prin. and int.
Their collateral consists
of $5,527,000 New England Tel. A Tel. Co. stock, $3,371,700 Cleveland
Telephone Co. stock, $3,332,600 Wisconsin Telephone Co. stock and
$4,348,100 N. W. Telephone Exchange Co. stocks.
REPORT.—For cal. year at length in V. 110, p. 978.
1919
1918
1917
y$16,461,'674x$19,527,451
(net)..Ty5,955,048 x4,726,096
Dividends received
Telephone traffic
~
~
Real estate, Ac
J
Interest A other revenues
(y 5 mos.)
from associated cos
19,953,437
Compens'n Gov. contr't. 28,132,523
Total
Net
earnings
Interest
Dividends
Carried to
"
(x 7 mos.)
1916.
$28,894,254 $26,710,691
J7,887,548
8,136,314
l.f
,650,255
1,555,068
18,022,220
17,805,006
14,529,979
18,780,396 (Compens'n for 5 mos.)
$70,502,682 $61,056,163 $56,237,063 $50,932,051
10,259,295
6,763,146
7,296,596
6,188,675
—
Expenses
Co.
BELL SYSTEM.—On Dec. 31 1919 there were 11.795,747
telephones
connected with the Bell System, which owned 7,739,159 and connected with
about 4,056,588 owned by connecting companies and rural associations.
F
A
N Y
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 of
the company's capital stock then paid up. V. 69, 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.
These bonds are a direct obligation of the company and secured
by de(compare
be issued to
Telegraph Co.
or for $100 in stock and $14.28 in cash.
V. 109, p. 478.
extension of toll cable system, and Key Westtelephone 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
1,365.300
20,000,000
12.072.720
Automatic switchboards,
Havana
See
text
52,699,700
540,900
Ac
J Jan
A
«
100
50
50
50
J
Western Union Tel,
Checks mailed
N Y, Bos, Lond A Amst
N Y, Boston and Amgtd
J
II
Places Where Interest and
Dividends are Payable
Maturity
MAS Mch 11933
A
D Dec 1 1940
t*
77,434,900
9,985,000
500 Ac
1904
and
Junel'201^%
%
1902
1918
1919
1919
1904
Last Dividend
$100 $14,000,000
Q—M
100 442,061,500 8 In 1919
July 15 '20
Q-—J
J
&
J July 1 1929
4 g
78,000,000
MAS Mch 1 1936
4 g
2,589,000
1,000
1,000 Ac
100 Ac
The stockholders
the
1
Date
Bonds
first page]
[VOL. 110.
(8%)
reserves
$60,243,388 $54,293,017 $48,940,467 $44,743,376
15,847,596
10,391,695
10,469,360
6,730,099
35,356,334
35,229,699
32,481,614
31,122,187
5,000,000
5,000,000
2,500,000
2,500,000
Carried to surplus— $4,039,457
$3,671,623
$3,489,492
$4,391,090
Balance sheet of Dec. 31 1919 shows p. A 1. surplus $86,663,742.
Earnings for 1st quarter of 1920: Gross, $20,140,429; net, $17,800,291;
interest, $4,747,845; dividends, $8,839,873; balance, $4,212,572.
DIRECTORS.—
(Chairman of Board), H. B. Thayer
(President), Harry H. Brigham, Geo. F. Baker, W. Murray Crane, Henry
Howe, Chas. E. Hubbard, William Lowell Putnam, John I. Waterbury,
Eugene V. R. Thayer, William A. Gaston, Charles F. Adams, G. P. Gard¬
ner, Philip Stockton, W. Cameron Forbes, George L. Green, William C.
Pearson, W. W. McClench; Sec., A. A. Marsters; Treas., Geo. D. Milne.
Offices, 195 B'way, N. Y., and 125 Milk St., Boston.—(V. 110, p. 465, 978,
1417, 1644, 2194.)
8.
AMERICAN THREAD CO.—Incorp. in N. J. March 10 1898 (V. 67.
1158; V. 107, p. 2010).
Common stock, $6,000,000, fully paid.
*06. '07. '08. '09. '10. '11. '12. '13. *14. '15. '16. *17. '18-'19.
Com.cts.per sh_ 49 63 45
18 67^ 45 27
54 81
45
81 76
(7)
p.
LateDivs.—
BONDS.—The $6,000,000 1st M. 4s due Jan. 1 1919 were replaced
issue of $6,000,000 1st M. 6s due Dec. 1 1928. V. 107, p. 2010; V.
by
70,
179; also V. 76, p. 296.
In 1901 purchased control of Wool Exchange,
owning building 260 West Broadway, subject to first mtge. of $200,000.
V. 73, p. 289, 393, 446.
|
an
p.
REPORT.—For year ending Mar. 31
1918-19.
13
1919, in V. 109,
'18.
p.
267, showed:
11 mos. '17.
Year 1916.
Net, after interest, Ac.. $2,099,780
$4,058,481
$1,418,170
Pref. dividend (5%)
244,524
244,524
244,524
Common div. (%).(20^) 1,200,000(22)1,242,000 (18)918,000
$1,529,488
244,524
(18)972,000
mos.
Pres., R. C. Kerr, Montclair, N. J.; Sec. A Treas., J. G. Wylie, 260 West
B'way, N. Y.—(V. 105, p. 71; V. 106, p. 926; V. 107, p. 176, 2010; V. 109.
267.)
p.
(THE) AMERICAN TOBACCO CO.—ORGANIZATION.—A merger
Y. 79, p. 1024, 1705; V. 80. p. 168.
29 1911 the U. S. Supreme Court held the company a combination
In 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
aforesaid sale was given in V. 94, p. 280; V. 107, p. 1670. In April 1918 the
0. S. Govt^took over the Bull Durham output of the Durham, N. O.,
Jet. 19 1904 under New Jersey laws.
On May
plants 2,000)000 lbs. monthly for its fighting force abroad. V. 106, p. 1463,
May, 1920.]
INDUSTRIAL
STOCKS
AND
BONDS
149
MISCELLANEOUS COMPANIES
Date
par
Amount
Rate
When
Last Dividend
Places Where Interest ani
IFor abbreviations„ Ac,, see notes on first page}
Bonis
Value
Outstanding
%
Payable
and Maturity
Dividends are Payable
American Type Founders—Common stock
—
Preferred (a & d) stocx 7% cum $3,000,000 red 105
Deb Bold $1,000,000 s f $20,000 y'ly began SeptlSOO.Bas
Deb gold $2,000,000 red 106 a fd $30,000 y'ly (text)—Q.a
Deb gold $1,000,000 g call 105 a fd $40,000 yearly
G c*
$100
1896
1909
100
100 dec
100 Ao
1917
100 Ac
100
Amer Water Wks St Elec Co.. Inc.—Oom stock $10,000,000
Pint pref (a A d) 7% cum stock red 110 $10,000,000
100
6% participating pref stock red 105 $10.000,000..........
Oollat trust bonds $20,000,000 auth call 102)4—.Baxxxc*
Amer Wholesale Corp—Common 150,000 shares —«
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 & Oollat bonds sinking fund call par—
1914
100
100 &c
None
1,000
100
1,000
1912
a
& d stock 7%
100
cumulative $7,000,000—--—
a majority of the stock of the American Cigar Co.
See results
V. 73, p. 1113; V. 72, p. 531,1037; V. 78. p.1394.
Offer of Exchange of Stock by A. T. Securities Corp.—See under Capital
Stock" below.
The Mengel Box Co. of Louisville, a majority of whose $6,000,000 stock
Is owned by the Am. Tob. Co., placed $4,000,000 7% serial gold debentures
dated Nov. 11918 and due $1,000,000 yearly Nov. 1 1920 to 1923. V. 107,
p. 1842.
Owns
for 1917, V. 105, p. 2544.
DISINTEGRATION.—The plan of Oot. 1911 (see V. 93, p. 1122, 1325,
1557, 1603, 1670) divided up the business of the company and its allies
among "14 separate and independent companies, no one of them having
control of or dominance in the trade as to any of the products manufactured
by it, or as to purchase of raw material, and no one of them having any
interest, by way of ownership of, stock or otherwise, in any of the others.
Subsequent status, V. 95, p. 1405; V. 100, p. 311, 644; V. 102, p. 970.
The
leading independent companies resulting from the disintegration are:
Liggett A Myers, P. Lorfilard Co., Reynolds Co., American Snuff Co.,
George W. Helme Co., and Weyman-Bruton Co.
197
STOCK.—The pref. stock all ranks now as 6% cumulative with full
roting rights.
V. 102, p. 523.
The shareholders voted March 14 1917 to
retire $25,989,400 of treasury preferred capital stock, thus reducing the
authorized pref. from $80,000,000 to $54,010,600.
V. 104, p. 766,1047.
To place the company in a position to issue stock should occasion arise
in the future, the shareholders voted Jan. 7 1918 to change 500.000 of the
597,576 shares of unissued common stock into "common shares Class B,"
having the same rights to dividends and upon liquidation as any other
shades of common stock, but without any voting rights. The company,
it was announced, has no plan for selling any of the proposed non-voting
Class B common stock under developments which can now be foreseen.
But see "Dividends" below.
V. 105, p. 2367.
Common stock issued, $40,242,400.
In Oct. 1919 the A. T. Securities
Corp. offered to acquire all of the issued common stock and to issue in
payment four shares of its own common stock (no par) for each share de¬
posited.
As of Dec. 1 1919, 247,492 shares had been deposited.
Share¬
holders of the A. T. Securities were to vote June 3 1920 on dissolving the
company.
Compare statement of A. T. Securities Corp. below.
Also
statement of International Trade Mark Corp. below.
(V. 109, p. 1528,
1611.)
DIVIDENDS.—On common stock since "disintegration" of 1911 to 1912
Year—
1912.
1913.
1914.
1915 to Dec. 1917. 1918-'20.
Regular, cash(%)
20 (text)
20
7H
20 (5% Q.-M.)
text
In 1914 paid, Mar. June and Dec., 5% in cash: Sept. 1914, 5% in 6%
scrip, paid off Sept. i 1915.
Also Sept. 1912 $20 per share from sale of
certain securities under the disintegration plan, and 2.986% in Amer. Ma¬
chine A Foundry Co. stock, and in March 1913 a similar cash distribution of
$15 per share.
V. 95. p. 362, 620; V. 96. p. 421.
On April 20 1914 a dis¬
tribution was made in restricted B deferred ordinary snares of Imperial
Tob. Co. equaling about 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. A 8, 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.
Accordingly paid each
quarter 5% in scrip March 1 1918 to June 1919.
p In Sept. and Dec. 1919 and 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,
24:52
•
The stockholders on May 6 1920
525.000
6 g
F
&
A Feb 1 1922
Farmers DepN Bk, Pitts
12,958.600 See text. See text Apr 1 1920
3 Pittsburgh, Ya
7
6.999,600
Q—J
do
do
Apr 1 1920 \%
100
American Window Glass Machine—Com stock $13,000,000-.
Preferred
$4,000,000 4 In 1919
Q—J
Apr 15 1920,1% Checks mailed
2,560,600 7 In 1919
Q—J
do
Apr 15 1920,1 %
577,500
6 g
MAN May 1 1926
Bankers Trust Co, N Y •
880.800
6 «
MAN May 1 1939
Guaranty Trust Co, N Y
6 g
M & N May 11937
913,900
do
do
9,200,000
5,450,000 7 in 1919 Q-F 15
Mayl5 '20, 1% New York
10.000,000
16.673,600
A
A
5 g
O Apr 1 1934
N Y, London & Paris
90,000 shs.
7
8,227,400
Q—J
Apr 1 1920 IV Central Un Tr Co. N Y
7
MAS Mar 1 1920 3*
4.000,000
By check from Pittsburgh
approved the plan of the directors for
a
on common and common stock "B" by the distribution
of authorized but inissued common stock "B" on Aug. 1 to common stock¬
DEBENTURES.—Of the 6% debentures dated May
to 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
1 1909, $800,000 are
of $30,000 and $20,be used to purohase
106 and int. V. 88,
p. 627; V. 89, p. 1068.
On Aug. 311919 notes payable aggregated $975,000,
against $1,150,000 in 1918; debentures, $2,372,200, against $2,484,500;
pref. stock, $2,560,600, against $2,360,000.
V. 109f p. 1889.
REPORT.—For year ending Aug. 31 1919 In V. 109,
p. 1889:
Common Div. PreferredDiv
Bal., Sur.
(4%)$160,000
(7%)$175,785 $182,699
(4%) 160,000
(7%) 165,242
121,029
404,641
(4%) 160,000
(7%) 165,242
79,399
Pres., R. W. Nelson, 300 Oommunipaw Ave., Jersey City.—(V. 104, p.
Year—
Net.
1918-19
1917-181916-17
$518,484
440,271
——
1047^1265; V. 105, P. 1800; V. 106, p. 398; V. 107, p. 1833, 1839; V. 109,
AMERICAN WATER WORKS & ELECTRIC CO., INC.—ORGANI¬
ZATION, dec.—Incorporated in Va. April 27 1914 (per plan in V. 98, p.
914, 1074), as successor of the American Water Works A Guarantee Co.
V. 101, p. 372, 769; V. 105, p. 1519; V. 107, p. 1477.
Properties owned or controlled: (a) Water-works supplying cities and
towns in U. S.fsee capitalization V. 105.
p. 1519; V, 102, p. 713; V.87, p.1092:
V. 91. p. 158; V. 95. p. 1547; V. 97, p. %9. 1050; V. 98, p. 1005: V. 100,
p. 558; V. 108, p. 1938]; (b) West Penn Trac. A Water Power Co.
"Elec.
Ry. Sec." and V. 107, p. 2471; V. 105, p. 1518; V. 102, p. 891; V. 104, p.
766; (c) 26,856 acres of land in Sacramento Valley. V. 107, p. 1477.
For list of principal securities owned June 301919, see v. 109, p. 2170.
Bonds of subsidianr companies In hands of public June 30 1919 (excluding
Ports. Berk. A Suffolk and Racine Water cos. sold to cities), aggregate
$22,319,000, against $24,498,500 in 1918; collateral notes or sub. co.,
$400,000.
VOTING TRUST.—All of the stock is vested for 5 years from Apr. 27
1914 in 5 voting trustees, viz., E. O. Converse. William Nelson Cromwell,
Howland Davis, Wm. B. Schiller and A. II. Wiggin.
STOCKS.—The 0% participating pref. stock is entitled to share with
the common stock in any dividends over 0% declared in any year on both.
In 1917 the outstanding common was increased from $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 as
above stated (compare V. 106, p. 50), 1%% was paid quarterly Aug. 25
1917 to May 15 1920 on the $5,450,000 7% cum. 1st prer. stock.
,
BONDS.—Of the collat. trust 5s ($20,000,000 authorized issue), $17,"
840,000 had been issued to June 30 1919, 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
water companies on; June 30 1919 held by public, $22,319,000> >_ £ j?-r *</
**
REPORT.—For year ending June30 1919 "inV.IOQ, p. 198972170; 9
ended March 31 1920 in V. 110, p. 2077.
Earnings of
—Water Companies'—
West Penn. Pys
Subsidiary Cos.—
1918-19.
1917-18.
1919—6 Mos.—1918.
Gross earnings
$5,011,310
$4,973,392
$5,234,007
$4,556,972
Net, after taxes
2,294,437
2,494,470
1,789,482
1,713,047
Balance, after charges.x.
463,068
618,953
734,492
683,291
x Interest, depreciation and payments on preferred and outside stock.
Company's Income Account—
1918-19.
1917-18.
1916-17.
Co's proportion net earns, water cos
$463,067
$618,953
$688,357
Income from Invest., &c., incl. pref...
stock West Penn. Trac. A W. P.—. * 927,930
861,420
849,659
mos.
.
75% stock dividend
holders of record
on
The plan carries with It the redemption of
by the issuance of common
holders may participate in
Compare V. 110, p. 1644.
July 15.
the outstanding scrip amounting to $12,072,720,
stock in exchange for scrip, in order that scrip
the stock dividend.
NOTES.—In Nov. 1917
a
discount notes to provide for
the greatly increased business.
V. 100,
p.
*
REPORT.—Report for year ending Dec. 31 1919, in V. 110, p. 1081:
Net
Bond
Pref Div. Com. Div. Balance,
Sales.
Income.
Int., &c.
(o%).
(20%).
Surplus.
Calendar
Year—
.
*
$
$
s
$
$
1919—146,023,730*18,722,128 2.749,556 3,161,982 8,048.480 4,762,110
144,470,069*19,034,762 2,421,722 3,161,982 8,048,480 5,402,578
89,920,249*13,563,665
252,980 3,161,982 8,048,480 2,100,223
1916
70,009,437 12,412,623
114,566 3,161,982 8,048,480 1,087,596
♦ After
deducting Federal excess profits and income taxes.
DIRECTORS.—Percival S. Hill (Pres.), Charles A. Penn, C. S. Keene,
J. H. Mahler and G. W. Hill (V.-Ps.), J. T. Wilcox, A. L. Sylvester, J. E.
Lipscomb, M. W. Reed, Thos. W. Harris, T. T. Harkrader, F. M. Da
Costa, C. F. Neily (Sec.).
The Asst. Sec, is Richard J. Boylan, and
Treas., J. M. W. Hick*.
Office, 111 Fifth Ave., N. Y.—(V. 109, p. 2358;
V. 110, p. 1081, 1644,1975.)
1918
AMERICAN TYPE FOUNDERS CO.—Incorporated in 1892 under laws
See V. 55, p. 625. And adv.
In 1896 the capital stock was re¬
adjusted.
V. 62, p. 682.
New plant, V. 77, p. 1292; V. 79, p. 1703.
In
1918 purchased portion of Keystone Type Foundry for $350,000, and its
standard merchandise for about $850,000, giving in payment $800,000
debentures due in 1937 and about $400,000 cash.
V. 108, p. 1833.
Owns $1,000,000 Barnhart Bros. A Spindlar com. stock and guarantees
$1,250,000 7% 1st pref. (par $100; dividends (Q.-F.); also $759,000 7%
2d pref. stock, prin. A dfvs.. according to terms of an agreement with
Guaranty Trust Oo. of N. Y. dated May 19 1911.
V. 92, p. 1501.
of N. J.
DIVIDENDS.—On common, Oct. 1898 to Apr. 1920, IncL, 4% J>. an.
In addition, in Jan. 1902 6% scrip; in Apr. 1903,3% scrip: Apr. 1909. 2%
■crip; May 1913. 2%, scrip, was paid; Mar. 1917, 2% scrip, applicable in
payment for bonds of 1917.
Aug. 31 1919, $25,232.
V, 104, p. 1265.
Dividend scrip outstanding
I
Balance
$1,538,010
$1,462,582
814,347
See text.
$203,686
...
syndicate took an Issue of $25,000,000 6%
2231; V. 105, p. 1899, 2000, 2180.
In Nov, 1918 these notes were replaced
with an issue of $25,000,000 7% notes, maturing $5,000,000 Nov. 1 1919,
$3,333,333 yearly for each of the three following years, $10,000,000 for the
fifth year, but callable as whole or in series (the earliest maturity first) as
follows: 105% for notes having 4 years or more to run; 104% for notes
having 3 years or more (hut less than 4 years) to run; 103% for notes having
2 year 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 excepted) and
the quick assets must not fall below 1% of the current liabilities plus
these notes.
V. 107, p. 1670, 1748.
$1,480,379
$1,390,259
811,073
381,600
Total Income Am.W.W.&El.Co. .-.$1,390,997
Net earnings..
..$1,263,953
Bond Interest, &c
....
828,843
Dividends on first pref. stock.
381,500
$648,235
$53,610
OFFICERS.—Pres., H. Hobart Porter; V.-P., J. fi. Purdv; V.-P, A
Treas., Cecil S. AshdownfSec., W. K. Dunbar. Office, 50 Broad St., N. Y.
—(V. 110, p. 563, 1975, 2077.)
AMERICAN WHOLESALE CORP.—ORGANIZATION —Incorp. June
27 1919 in Maryland.
Its business started in 1881.
Is conducted through
catalogue Instead of salesmen, and comprises nearly everything sold by
department store (except groceries).
See V. 109, p. 272.
the average
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.
stock Oct. 1 1919; Jan. 1920, 1%%\ April 1920, l%%.
REPORT.—For 1919, in V. 110, p. 658:
Income Account.—Year ended l3ec. 31 1919: Gross sales, $35,345,711;
total earnings, $4,270,566; Federal taxes, 1919 (est.), $1,341,954; pref. divs.,
$297,500; Federal taxes, 1918, $1,953,709; surplus, $678,033.
Jacob Epstein, Pres., Abraham I. Wienberg, Nathan Epstein, A. Ray
Katz, SidneyLansburgh. Office, Baltimore.—(v. 110, p. 927,1528, 1850.)
t
AMERICAN
WINDOW
GLASS CO.—See American Window Glass
975; V. 109, p. 372, 1611, 1790.
Machine Co. below and in V. 108. p. 582,
AMERICAN WINDOW GLASS
Incoro. in N. J.
on
Mar. 6 1903.
MACHINEL CO.—ORGANIZATION.
V. 76. P. 596.
Owns exclusive rights
patent rights to latter on royalty; total said royalty accrued May 7 1903 to
April 11 1919, $11,627,954 (including $1,880,383 accrued in year 1918-19);
royalty paid, $11,627,954; balance royalty accrued, $1,369,772.
Is also
entitled to back and current royalties from all other compani^ using its
machines.
See V. 109, p. 372.
V. 76, p. 707, 867; V. 77, p. 2282; V. 79.
p.
2644; V. 91, p. 1027.
DIVIDENDS %.—
On cum. Pref. stock--—-—
1915.
7
1916.
47H
1917.
1919.
7
1918.
34
20
On Common, cash
—-—
-do
Liberty bonds
..
■
All the accumulation on the Pref. stock having
1920,
See
10
-text
$
7.
been discharged in Jan.
.
1918, an Initial dividend of 10% on common was paid June 29 1918. V. 100,
p. 2652.
On Oct. 5 1918 a dividend of 5% and in June 1919 one of 7% was
paid on the common stock in U. 8. Liberty4M% bonds.
In 1920, Jan.,
5% in cash; April, 3% in cash.
V. 107, p. 1103 V. 108, p. 2024; V. 109, p.
2265.
INDUSTRIAL STOCKS AND BONDS
160
[VOL. 110.
MISCELLANEOUS COMPANIES
Date
Par
Amount
Bate
When
Last Dividend
IFor abbreviations, &c>, see notes on first page)
Bonds
Value
Outstanding
%
Payable
and Maturity
See text.
5Hln '19
$100
American Woolen—Common stock
Preferred stock 7% cum
-
-
100
1919
15
12.500,000
Secured gold bonds $50,000,000 Ser A_„
—G.yc*
1910
Q—P
J
5 g
1.782,500
&
9%in'19 Q—P
50 110,562,500
6
25,000,000
1,000
&
J
g
1 1913 1% Checks mailed
1939
CUTr.NY ;01dCol Tr.Bos
May 1 1917 4%
May 1 1920 6% Boston Mass
J Jan
&
text
2.414.000 24%ln'18
25
REPORT.—Report of the Machine Co. for year ended Aug. 29 1919
p. 1790), showed: Net income (after taxes, &c.), $3,010,980; pref.
6% J
to
4,028,000 See
26
1919
Apr 15 20,1 H% Company's office, Boston
Apr
9,295,000 7
1,000
American Zinc Lead St Smelting Co—-Common stock
Pref stock cum 24 % (entitled to SlOOjper sb&re in licjuid&tioii)
Granby Mining <fc Smelting 1st M (closed) assumed call
sk fd, $100,000 yearly (V 104, p 1492, I486)-.NC
Anaconda Copper Mining Co—8tk $150,000,000 auth——
Payable
are
9,500.000
100
Dividends
15 Apr 15 19201%
100 $40,000,000 7 in 1919
(a & d)
American Writing Paperf-Common stock———•—
Preferred (a & d) stock 7% cumulative $12,500,000
New 1st M $12,000,000 sk fund from Jan 1
1919
call 105
xxx_OB.c*&r
Places Where Interest and
D June 1926
Chicago Northern Tr Co
28 May 24 '20 2% National City Bank. NY
Nat City Bk & Gu T.tfY
J Jan 1 1929
DIRECTORS.—Henry Evans, H. B. Lake, Otto Marx, Walter T. Rosen,
Schmidlapp and W. Mason Smith, all
Franklin, O.; J. K. Branch, Richmond,
(V. 109,
F. M. Tait and W. C. Loree, Carl J.
dividends, $279,650; balance, surplus, $2,731,330.
Pres., M. K. McMuHin; Sec. & Treas., A. E. Braun, Pittsburgh, Pa.—
(V. 110, p. 467, 1190.)
of New York, N. Y.; T. A. Jones,
AMERICAN WOOLEN CO. (OF MASS.)—ORGANIZATION.—Incor¬
porated in Mass. Feb. 15 1916 as a reincorporation of the N. J. company
with the same name and capitalization.
In 1899 merged the Washing National Providence_Mills, Providence, R. I.,
V. 09j v 77; V. 73.
p.
p. 446; V. 71.
580 V. 78. p. 1118;_V. 90, p. ""
1118; V. 90.
622
91. p. 1102; V. 71. o. 1316; V. 101. p. 529. 1554, 1715; V. 102. p. 253,
347, 802, 1542.
In March 1919 purchased Whitestone Mills, Eilenville,
Conn.
V. 108, p. 1276.
Bank loans Dec. 31 1919, $20,906,048.
V. 108.
p. 2237.
«,
.
In
May 1918 owned or controlled (a) cards, 1,030 sets woolen and 271
worsted: looms, 1,006; combs,411 English and 25 French; spindles, 750,010,213 viz.: English worsted, 290,112; French worsted, 185,840; woolen, 274.058.
Government control of wool, &c., in May 1918. V. 100, p. 1747.
2012, 2179, 2180; V. 107, p. 804, 854.
Status 1919, V. 108, p. 381, 2328.
Employees 1918, V. 108, p. 482.
Group insurance for employees, V. 109,
p. 75.
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.
On March 11920 the final $1,000,000 Ayer Mills 5% guar,
notes of 1910 werepaid off.
j
The American Woolen Products Co., organized to carry on a general
export business, began business on Apr. 1 1917, and opened branch offices
in Canada, South America, Mexico and in the Far East.
V. 108, p. 2328.
CAPITAL STOCK.—The stockholders were to vote May 25 1920 on
increasing the 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.
stock will be offered to stockholders of record June 7 at SlOOper share in the
ratio of one new share for each three shares of stock held.
The $20,000,000
pref. stock, it is stated, Is being authorized simply as an available financing
medium for the future.
The proceeds of the issue, it is stated, will be used
to retire floating debt and for working capital for the co.'s expanding business
DIVIDENDS.—
On
1916.
1917.
1918.
common stock
3M
5
do. in Liberty bonds (Feb. 1919, 5: Apr .10%)
On pref. stock—July 1899 to Apr. 1920, p.a
«—
In
Oct.
1919 Increased the
common
1919.
1920.
5H
5
—
—
div. from 1M
—
.15
7
quarterly to 1%%.
V. 109, p. 983.
EARNINGS.—Report for
year
1919 in V. 110,
1919.
1918.
p.
1846 showed:
1917.
1916.
Va.; George A. Galliver, Holyoke, Mass.; M. E. Marcuse, Richmond,
Va.;
Watts, of New York; George C.
169, 361, 1644, 1745.)
Edwin Packard, Brooklyn, N. Y.; Ridley
Lee, Boston.—(V. 110,
p.
AMERICAN ZINC. LEAD & SMELTING CO.—ORGANIZATION.—
Incorporated Jan. 26 1899 in Maine as a raining and smeltiDg company.
a holding and operating company for certain subsidiaries (V. 102.
p. 73; V. 104, p. 1486) in Missouri, Tennessee, Wisconsin, Kansas and Ills.
Settlement of ore flotation suit, V. 105, p. 1804.
Govt, price of zinc,
12 cts. per lb. terminated Jan. 1 1919. <*V. 107, p. 858, 1748,2378; V. 106.
It Is also
p.
2295^2453.
STOCK.—On June 15 1916 there were Issued 96,580 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
See official statement to
to that amount.
Y. Stock Exch.
N.
listing
on
of stock, V. 102, p. 2330, 1164, 69.
The total stock, common and pref..
Is limited to $7,500,000.
Accounts payable Dec. 31 1918, $330,232.
Year—
'99. '00.1907.1910. *11. '12. '13. T4-'15.
1916.
1917.
Com. divs
$2 $1 $1.25 $1,50 $2
$2
$1
0
50% in.stk.
8
On common stock in 1917, Feb. & May each 4%; dividends then 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 May 1 1920.
BONDS.—Granby 5s $1,900,000 Dec. 31 1917; retired in 1918 $117,500;
bal.,
$1 782 500.
REPORT.—For cal. year 1918 showed: * Total income, $911,416. con¬
trasting with $1,780,164 in 1917, and $9,307,968 in 1916.
Pref. divs.
(24%), $482,637; balance, surplus for year, $428,779.
*
After deducting Federal taxes.
OFFICERS.—G.
W.
L. A. Coolidge, P. E.
Baker, Chairman; William A. Ogg, President;
Coyle, W. F. Rossman, J. N. Houser, H. A. Weno-
worth and C. A. Hlght, Vice-Presidents; F. W. Batchelder, Sec. & Treas.,
Office, Boston.—(V. 107, p. 504, 804, 908, 1006, 1748, 1921, 2190. 2378.)
AMOSKEAG MFG. CO.—V. 109, p. 1462; V. 110, p. 1292,1851, 2194.
ANACONDA
COPPER MINING
CO.—ORGANIZATION—Incor¬
porated In Montana June 18 1895 and was for many years the leading oper¬
ating subsidiary of the Amalgamated Copper Co., a holding company dis¬
solved In 1915, the Anaconda taking over Its assets (V. 100, p. 1594).
New
plants. &c„ V. 102, p. 707; V. 104, p. 1796; V. 105, p. 2545; V. 106. p. 1895.
From Sept. 1917 to July 2 1918 the price of copper was fixed by the Federal
authorities at 23cts.; 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
Sept. 1919, V. 109. p. 1275.
In 1917 began producing manganese.
V. 106, p. 1346; V. 107, p. 1895.
,
Netprofits (aft er taxes)x$15,513,415 $12,324,084
Net profits (before taxes)
PrefT dividend (7%)
— —
$2,800,000
Common dividend
(16)3,200,000
Insurance, &c\, fund.— a8,250,000
—
_
Reserve for taxes..
Depreciation——
—
x
3,733.611
Balance, surplus...def.$2,470,196
Total profit and loss surplus Dec.
———
—
;_.
$15,664,985
$8,210,761
$2,8u0,000
$2,800,000
$2,800,000
(10)2,000000 (5)1,000,000(5)1,000,000
1,500,000
2,500,000
x
3,000,000
5,251,557
3,320,829
2,346,943
x$772,527
$3,044,156
31 1919, $31,754,426.
$2,063,819
xNet profits for 1919 are shown, after deducting reserve for taxes and
contingencies,
a Includes $7,250,000 reserve for possible
inventory value.
diminution in
.
DIRECTORS.—Wm. M. Wood (Pres.), Andrew G. Pierce Jr., Geo. L.
Shepley, Parry O. Wiggin (V.-P.), W. H. Dwelly (Treas.).
Office, 245
Mass.—(V. 110, p. 765, 1851, 2077.)
State St., Boston,
AMERICAN WRITING PAPER CO.—ORGANIZATION.—Incorpor¬
ated in N. J.
on June 25 1899 as a consolidation.
In Jan.
1920 had 24'
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.
and De Pere, Wise.
Departments: Writing and ledger papers, specialties
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.
PREF.
STOCK.—Total auth. and issued, $12,500,000 7% cum.; tota1
dividends accrued thereon from organization in July 1899 to
Apr. 1920»
145 K %, less 10% paid in 1908-'13; balance unpaid in Apr.
1920,135^%.
BONDED DEBT.—The plan of 1918 (given in full In V.
107, p. 1674,
1748. 2010, 2190, 2291, 2478; V. 108, p. 381,685) recasts the funded debt
as
follows:
2010.
i
*
Among the properties taken over in 1914-18 were: Plants of the Inter¬
national Smelting & Refining Co. (V. 98. p. 1319. 1457, 1596;
V. 100,
p. 1606), and in 1915 (V. 100, p. 735.1080); the capital stock of the United
Metals 8elling Co.; 250,000 shs.of Inspiration Con. Copper Co. V. 106 .p. 1895;
59,600 shares of the Greene-Cananea Copper Co.i &c.
V. 102. p.' 1809.
V. 107, p. 2190; V. 108, p. 81.
Ore reserves, &c., V. 103, p. 322.
In 1910 acquired practically the entire capital stock of the Andes Oop25 shares to control
Ser Co. Incorporated in Andes Copper Jan. 20 with $50,000,000 stock in
Delaware on Mining Co. and the Potrerillos
Railway Co.
The Mining Co. has begun to develop low-grade steam-shovel
deposits near Potrerillos, Chili, and the railway co. is building a rail¬
copper
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
1919 see V. 108, p. 81, 2020.
In Sept. 1918 acquired the Walker mine of California from the Plumas
Mining Co., at a price said to be $660,000.—V. 107, p. 1103.
In 1918 completed a rod and wire mill capable of rolling 100 tons of copper
daily, marking entry Into the metal manufacturing business. V.106, p.1895.
DIVS.
Since
%f '05. '06. '07 '08 to *11. *12. '13.
8
19H 26 8 yearly
9
12
1904—t
'14. *15. '16. '17. '18. '19.
10
6
14
17
16
9
3%, and in May to 2% ($1 a
share); Aug. and Nov. 1919 and Feb. and May 1920, 2% ($1 a share).
In Feb. 1919 dividend reduced from 4 to
V.
107,
p.
2478; V. 108,
p.
1276, 2631.
BOND ISSUE.—Of the $50,000,000 ten-year Secured gold bonds of 1919,
$25,000,000 of Series A were sold in Jan. 1919 to provide for the develop¬
American property and to reimburse the treasury on
capital expenditures.
These bonds are secured by practically
the entire stock not only of the several South American companies (mining,
exploration and railway), but also in the Raritan Copper Works, Int.
Smelting Co., Int. Lead Ref. Co., &c.
No mortgage can be made without
ment of the South
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 ami
held in its treasury was retired and canceled on or before maturity, July
1 1919.
Each $1,000 outstanding bonds exchangeable for $1,000 new bonds.
(b) A new (closed) $12,000,000 20-year mortgage was created, dated as
of Jan.' 1 1919, of which $11,000,000 was applied to refunding the $11,000,000 of bonds held by public and $1,000,000 war applicable to corporate
requirements.
Of this issue, $2,705,000 are in the treasury, leaving $9,295,000 outstanding in the hands of thepublic.
The new bonds bear interest (1) at 7% p. a. from Jan. 1 1919 to and
including-Jan. 1 1921; (2) thereafter 6%.
(c) Sinking fund for new bonds: An annual 1% of bonds outstanding,
plus (1) 25% of the net surplus earned in any one year, after providing for
depredation, fixed charges, &c., until the amount of bonds outstanding has
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 1919 in V. 110, p. 1745, showed:
Gross Sales.
Net Income.
Bond Int.
Exp., &c.
Bal.Sur.
1919—.$16,936,648
$1,790,192
$675,047
$680,050
$435,095
1918--- 21,327,777
2,792,295
554,359
985,306
1,252,629
1917—. 15,019,564
1,486,153
566,530
769,335
150,287
account of
PREF. DIVS.—June 1908. 2%; 1909, 1%; 1910 to
April
None since.
V. 97, p. 367, 446.
Accum.pref.divs. to
Total net income (incl. interest)
(a)
'
Apr.
1913, 2% yrly.
1920,135&%.
OFFICERS.—Chairman, Walter T. Rosen; Pres., George A. Galliver;
Vice-Presidents, Henry Evans, R. R. Campbell and John T. Wolohan;
Sec., M. N. Slotnick; Treas., B. E. Hutchinson; Comp., P. R. Browne.
securing these bonds as a prior lien thereunder.
V. 108, p. 81.
The $16,000,000 5 % 2-year notes were paid at maturity Mar. 1 1917.
V. 104, p. 865; V. 100, p. 735,1080; V. 102, p. 707.
Output (Us.)—
1920.
1919.
April
1 15,800,000
13,750,000
-
4 months—
70,850,000
——
—
55,950,000
REPORT.—For cal. year 1919, with bal. sheet, was in V. 110, p. 1969.
Years ending Dec. 31—
1919.
1918.
1917.
Fine copper produced (lbs.) ——
144,112,285, 293,603,726 253,508,332
Silver produced (ounces)
Gold produced (ounces)
7,377,477
42,526
10,967,905
64,318
9,031,020
58,546
Sales of copper, silver and gold
__$52,633,64C$1 9,504,7441109.055,593
Income from invests., sub. depts.,&c 21,267,271
13,116,306
16,932,058
Copper, silver and gold on hand
Total receipts
28,705,376
27,865,266
32,966,589
$102,606,287$150,486,317$158,954,240
Copper, silver & gold on hand Jan. 1 .$27,865,266 $32,966,589 §37,225,804
Mining, transp'n,reduc'n,deprec.,&c 68,361,234
96,040,325
86,868,409
Total disbursements
Interest
$96,226,500$129,006,9145124,094,213
r
Dividends—
Tate of dividends
Balance, surplus for year
/'
$6,379,787 $21,479,403 $34,860,027
$676,533
$526,275
9.325,000
17,484.375
19,815,625
(8%)
(15%)
(17%)
$1,276,146
def.$4,221,359
$3,318,495 $14,518,127
INDUSTRIAL STOCKS AND BONDS
May, 1920.]
Date
Anelo-American 0" Co—Stock £3,000,000
Sinking Fund gold notes red, see text
G.c*
I call 105-CC.xc*
Appalachian Power Co—1st M $25,000,000 s
Collateral (renewal) notes
...
Second mortgage $3.000,000
--1
Interest (unsecured) notes (as on Dec 31 1918)
Armour & Co$150,000,000
—
Pref stk (a&d) 7% cum S60.000.000 (call 115) for conv debs
Real estate 1st M $50,000,000 gold red 102 X
xc'&r'
Debentures call par convertible Into pref stock—CC.xxxc*
Armour Leather Co—Common stock authorized $15,000,000
Preferred stock (a & d) 7% cum call 115 auth $25,000,000
Founders' stock authorized 100,000 shares—
---
Par
Value
Outstanding
1911
1001
stock $20,000,000
i
i5o
198
First & Ref mtge
Pledged
858,385
100,000,000
&c
&c
1909
1,000
1918
100
15
100
100
—
DIRECTORS.—John D. Ryan (Chairman), C. F.
US
1,000
1,000
1910
Kelley (Pres.), B. B.
Thayer (V.-Pres.), Geo. H. Church, Andrew J. Miller, William Rocke¬
feller, Nicholas F. Brady, J. Horace Harding, H. H, Rogers, A. II. M elin
(Sec. & Treas.)—(V. 110, p. 169, 564, 972, 1528, 1975, 2194.)
COMMERCIAL CORP.—See V. 108, p. 2024, 2631.
ANGLOAMER.
ANGLO-AMERICAN OIL CO.—ORGANIZATION. &o.—Incorporated
in England in 1888.
Markets most of the oil of the Standard Oil Co of
N
J. in the United Kingdom and 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, o
1390.
Acquired the Home Oil Refining Co. in April 1920.
V. 110, p. 1644.
The shareholders voted Nov. 21 1917 to increase the capital stock from
£2,000,000 to £3,000,000, holders having the right to subscribe for the 50%
stock pro rata at $7.50 per share in the U. S. and at £1 lis. 6d. in the
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.
The 5-year sinking fund g. 7 X % notes are redeemable , all or part, or for
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 fund of not
less than $1,250,000 begins April 1 1922.
new
United
1917. 1918.
1912.
1913.
1914.
1915.
1916.
10
25
15
15
15
15
5
Extra (%)
10 100 stock
Jan. 1920, 15%.
Cal. Year—Profits.
Deprec'n,
5
5
1920
1919.
10
DIVS.—
Regular (%)__.
Int.,&c.
Inc. Tax.
30
30
text
Dividends.
7
Surplus
£8,522
£318,296
£900,000
£1,582,312
£289,899
£65,595
£53.942
£750,000
£214,248
£1,396,730
£348,687
£29,853
£500,000 £104,891
£222,398
1916
£1.122.979
£282,715
£12,974
-(V. 109,
England
Office, 36-38 Queen Anne's Gate, London, S. W
p. 2358: V. 110, p. 1292, 1644.)
1933
Sept 1 1920
Jan 15 *19 2%
A
Farmers JL & Tr Co, N
Y
Apr 1 1920 IX
do
do
1939
15
"20-'24 Chic (GO)& 1st N Bk.NY
n Junel
J & D 15 J'ne
6g
YBa&WPBonb&Co Ln
Y
Bankers Trust Co, N
S Sept
Q—J
g J
May 1 1920,4%
See! text
Q—J
14,985,000
13.818,700
6,725,500
100
100
&
Jan
See text
10,000,000
'
1902
M
N
text Jan 31 1920
See
ll
See text
100
None
1 1917 $20,000,000
1 1917 $10,000,000
Dry Goods Corn.
fund 5% of bonds out
$25,000,000 call at par..
and Maturity
6 g
50,500,000
50,000,000
9,500,000
var
.
Associated Oil Co—Stock
First mtge gold annual sinking
Where Interest and
Dividends are Payable
Places
Last Dividend
Payable
-r5g
2,170,700
Ac
1.000
1918
1.13
—
1st pref(a & d) stock 6% cum after Dec
2d pref (a & d) stock 7% cum after Dec
Associated Merchants—See Associated
When
%
'
£1
£3.000,000 See text See text Jan 15 '20 15% Guar TrCo, N Y, Lon.&C
J P Morgan & Co, N Y
&
O April 1 1925
500 &c $15,000,000
7X s A
J
1st Nat Bk.NY & CO
A
D June 1 1941
$1,000
8,553,000
1920
Associated Dry Goods Corporation..
Comma
Rate
Amount
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on first page]
See text
May 1 1920 1%
June 1
Q—M
Q—M
6
7
39,756,085 5 in 1919
5
1,440,000
5g
8,800,000
&
IX
mailed
-
Checks
Apr 15 20 1 X
1 1922
Q—J 15
F
1 H Checks
1920
June 1 1920
mailed
A Aug
J-J 15
Jan
New York and
15 1930
BONDS.—Of the "Real Estate 1st Mtge." 4Ks
San Fran
($50,000,000 authorized
Issue), final $20,000,000 were sold In April 1916.
V. 102, p. 1542. They
are subjoct to call as a whole on any Interest
day at 102 X and Interest on
12 weeks' notice, and since Dec. 1 1914 In blocks of not less than 10%.
V. 88. p. 1374; V. 104, p. 665.
Bills payable Nov. 2 1918, $90,136,091
profit & loss surplus, $69,366,799.
The $60,000,000 6% convertible debentures issued in June
1918 ma¬
ture $10,000,000 yearly on June 15 from 1919 to 1924. but are redeemable
at company's option at par on any 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 mrde without securing „his Issue.
The entire proceeds
were to be used to reduce current liabilities resulting from increased busi¬
ness
and heavier inventories. V. 106, p. 2561.
In May 1920 all except
$9,500,000 had been converted.
The balance sheet Nov. 3 1918 showed
total assets of $404,286,359, including capital assets of $123,895,554.
V. 108, p. 275, 2435.
358.
ending Nov. 1 1919 in full in V. 110 ,p.
REPORT.—For year
1 '19.
Nov. 2 '18.
Oct. 27 '17.
$
$
$
1,038,000.000 861,000,000 575,000,000
Total net income._
27,186,124
26,12§,611
30,628,156
3,509,055
Int. on borrowed money
8,117,386
7,178,224
2,240,422
Interest on bonds
2,243,835
2,286,986
Interest on debentures..
2,518,396
1,203,563
To's'ooo
Pension fund
208,000
212,000
Admin, expenses
•_
) Included
n operating
[1,512,566
Taxes, insurance, &c
f
expenses
Preferred dividend
986,123
37,282
2,000,000
Common dividends (2%)
2,000,000
2,000,000
Nov.
Years ending—
Gross business
Oct. 28 '16.
$
525,000,000
27,162,164
1,925,425
1,809,783
1,960,602
1,366,354
12,072,549
2,000,000
1917
APPALACHIAN
POWER CO.—Incorp. in Virginia in 1911.
Owns
hydro-electric developments aggregating about
land and water rights for 5
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
Eowersof 15,000 k.w. installed capacity, and a completion in July 1919, on
of 19,000 k.w. capacity (approaching modern steam turbine power
ouse
total generating capacity of the 3 plants about 34,000
acquired by Standard Gas & Electric Co. in 1919.
See also V. 92, p. 1567; V. 93, p. 529, 874: V, 97, p.523;
the New River in Va.,
Control
k.w.
V. 108, p.
V. 105, p.
Common
cum.
was
2331.
609.
stock auth.,
after Oct.
I
$6,000,000: issued, $6,000,000: pref. stock,
7%,
112 and div. authorized,
1912 and red. after 3 years at
$2,500,000; issued, $2,180,000.
First M. bonds, auth., $25,000,000: out¬
standing as of Dec. 31 1918 ($247 having been retired by sinking fund),
$6,133,000: on Sept. 30 this amount had been increased to $8,553,000 fol¬
lowing tiie payment on July 15 of the $1,000,000 7% loan from the War
Finance Corp.
Annual sinking fund for bonds (V. 93, p. 529, 874) 1916
192Q, 1%; 1921 to 1925, IX%' 1926 to 1930, 2%; 1931 to 1940 2^%.
The $2,170,700 notes due Sept. 1 1918, secured by pledge oJ' the entire
$3,000,000 issue of 2d mtge. 20-year 6% bonds, were replaced by a like
amount of notes due Jan. 31 1920, having the same collateral. V. 107, p.
1006.
Unsecured notes due Sept. 1 1920 represent interest on each issue
at 7%. V. 97. p. 667, 804.
to
31 years, V. 107, p. 1289
1918.
1917.
Gross
earns..$1,254,266
$948,277 Depreciation _
$44,000
Net income..
$580,718
$422,400 Balance,
sur.
Interest chgs.
511,197
483.3S4f
or deficit-^sur.$25.521 def.$60,984
Pre*., J. A. Trawick: Treas., W. R. Emerson, 47 Ames Bldg., Boston.—
(V. 105, p. 2458: V. 106, p. 1902; V. 107, p. 804,1006, 1289; V. 108, p. 2331;
REPORT.—Cal. year, V. 109, p. 1459, Aug.
1918.
1917.
I
V.
a
109, p. 1459.)
During the year 1918 company obtained from
loan of $1,000,000 7% for one year, payable
the War Finance Corp.
July 15 1919.—(V. 110,
361, 1644, 1975.)
p.
ARMOUR & CO.—ORGANIZATION.—Incorporated ln Illinois April 14
Owns plants ln Chicago, Kansas City, South Omaha. East St. Louis.
Worth, Tex., St. Joseph, Mo., Denver, Colo., South St. Paul (to be
opened early in the year 1920. see V. 109, p. 1894), Hamilton, Can.. Eng¬
land and the Argentine., incl. packing houses, glue works, soap works,
warehouses, refrig. stations, tanneries, Ac., &c.
See application to list,
V. 90. p. 370, and V. 95, p. 546; V. 98, p. 1002.
In Jan. 1917 acquired
four large tanneries ln Western Pennsylvania.
V. 104, D.75, 2013, 2110.
A new packing plant at St. Paul was opened
in the fall of 1919. The South
Am erican 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,
1900.
Fort
V. 107, p. 183, 606; V. 108,
1918-19, V. 108, p. 685.
ajp*eed to the entering of a decree
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 & Co.
Preferred stockholders of Armour & Co. of record Feb. 2
1920 were offered the right to subscribe to the stock of the leather company.
193. Relations with Trade Commission,
482; V. 109, p: 373. 579. Status, &c.,
in
p.
p.
The "Big Five" packers in Dec. 1919
in the Government suit requiring them
V.
110, p.
263.
accumulated from 1900 to Nov. 1
1912 was capitalized in Dec. 1916 by Increasing the outstanding capital
stock from $20,000,000 (par $100) to $100,000,000. giving the new stock to
shareholders.
Total authorized common, $150,000,000, V. 107, p. 804,
V. 103, p. 1414.
The $60,000,000 7% cum. pref. stock was authorized
far conversion of the debentures below mentioned; R is
In 1918 to provide
subject to redemp¬
115 and divs.
Additional pref. stock can be issued
only when annual earnings available thereto are twice the pref. divit end
charges, including the proposed issue.
V. 106, p. 2561.
On Oct. 1
1919 about $27,000,000 pref. stk. had been issued for conversion of bonds.
tion by the company at
DIVIDENDS—
Common
...
1911.
10%
1912.
1913-16.
1917.
10% yrly.
Preferred
On
preferred, Oct. 1 1918 to April 1920, 1X%
OFFICERS.—Pres.
and
Gen.
2%
1918.
2%
IX %
quarterly.
1919.
2%
7%
1920.
See
text
Mgr., J.
Ogden Armour; V.-P.. C. W.
Armour, Arthur Meeker, R. J. Dunham, A. Watson Armour, Phillip D.
Armour, F. W. Croli, G. B. Bobbins, F. Edson White and E. A. Valentine;
Sec., G. M. Willets; Treas., F. W. Croll.
Office, 208 La Salle St., Chicago,
111.—(V. 110,
ARMOUR
Feb.
p.
1090, 2194.)
LEATHER
CO.—Organized under laws of Delaware in
acquiring all of the tanning, companies and
V. 110, p. 660.)
1920 for the purpose of
leather assets owned by Armour & Co. (See
CAPITAL 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. a $5 a share.
Holders of Armour & Co. pref.
were offered the privilege of subscribing to the stock of tho new co.
stock
EARNINGS.—Earnings available for dividends, after Federal taxes,
during the last fiscal year, were $6,195,824; average annual net earnings
during the last four-year period were $4,485,215.
Balance sheet as of
Nov. 1 1919 in V. 110, p. 766.
DIVIDENDS.—After pref. dividends, the remaining surplus
available for dividends on the common and founders'
shall be
earnings
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 lass
than $4,000,000. V. 110, p. 660.
1
An initial div. on pref. stock at the rate of 7% per ann. for the period
from Mar. 1 to Apr. 1 was paid on Apr. 1 1920.
Initial div. on com. of
„
60 cents
1920.
(4%) for period from Nov. 1 1919 to
p. 1528.
May 1 1920 was paid May 1
V. 110,
OFFICERS.—Chairman, Frank G. Allen;
Pres., Henry W. Boyd, Chi¬
cago; V.-Pres'ts, M. C. Weimar, Chicago; F.
M. P. Brennan, Olean, N. Y.; Philip L. Reed;
C. Von der Heide, Boston;
Treas., James E. llartwell,
Chicago; Sec., C. B. Eldridge, Chicago.
ASSOCIATED
DRY
CORP.—ORGANIZATION.—Incor¬
GOODS
porated in Virginia May 24 1916 and ln Aug. 1916 succeeded, per plan in
V. 102. p. 69. 64. to all the properties of the Associated Merchants Co.
and United Dry Goods Co.. viz. (V. 103, p. 1412):
(a) Retail dry goods
stores wholly owned,
with net tangible assets valued Dec. 31 1919 at
$18,683,544, viz., James McCreery & Co., New York (V. 105. p. 1421);
Hahne & Co., Newark, N. J.; Stewart & Co., Baltimore; Wm,
Hengorer Co., Buffalo: Powers Mercantile Co., Minneapolis; J. N. Adarn & Co.,
Buffalo; Stewart Dry Goods Co., Louisville, Ky.
(b) Adrico Realty Co.
owninar 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, 12,212 shares, 2d pref. stock, 14,601 shares, common stock,
24,257 shares, par of each $100 a share, and $750,000 7% debenture bonds,
due Jan. 1 192.3; C. G. Gunther's Sons, $100,000 common stock; Surety
Coupon Co., all capital securities, &c.
The aforesaid seven retail dry goods companies, ^ose capital secimities
are wholly owned, had on Dec. 31 1919 tangible assets, $25,717,548; liabili¬
ties, $7,034,004; net assets,
$18,683,544.
capital stock as shown In
1919 $19,400 in treasury and $13,690
CAPITALIZATION.—Of the
there was on
Dec. 31
undeposited stock of Associated
table above
held against
United Dry Goods Co.
were paid on the 1st pref. stock
On 2d pref. stock (No. 1).1X%
On com., initial div. of 1% paia
Merchants Co. and
DIVIDENDS.—Dividends of 1M%
1 1917, quar., to June 1 1920.
1 1918, quar., to June 1 1920.
May 1 1920.
REPORT.—Cal. year 1919 in V. J10, p.
Cal. Years—
1919.
1918^
Dec.
Mar.
.
(See below.)
STOCK.—The $80,000,000 of profits
1103.
Surplus for tbe years. 11,112,384
13,210,556 19,085,563
18,100,000
Annual meeting changed in 1918 to the 3rd Wednesday in January.
_
,
_oe.
1525:
1919.
1918.
I
Net profits...$3,297,375 $1,573,110
sales_$4,244,486 $2,065,342
Dividends
1,297,586
1,297,586
Total income. 4,362,331
2,199,736
1,999,789
275,524
Interest, &c—
64,955
98,125 Balance, sur
,ww<uuu
2,673,671
Fed.tax reserve 1,000,000
528,500 Tot.p.&l. sur. 4,673,459
OFFICERS.—Samuel W. Reyburn, Pres.; Charles A. Gould, Theron S.
Atwater and C. 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 DavLs.—(V. 110, p. 1091, 1525.)
_
Profits,
ASSOCIATED OIL CO.—ORGANIZATION.—Incorp. in Cal. Oct. 5
In Jan. 1920 the company owned in fee 40,921 acres, leases 36,837
and holds mineral locations on 3,333 acres in and adjacent to various
producing fields in California.
Also stockholdings, notably $3,500,000 of
1901.
acres
152
INDUSTRIAL STOCKS AND BONDS
MISCELLANEOUS
tFor abbreviations, &c.,
COMPANIES
see notes on
Date
A t Securities Co—Cap stock 3,000,000 shares...
Atl G & 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
Ea.xx
Bonds of sub. cos. Dec. 31 1917 (less amts. in treas., &c.).
U 8 & Porto Rico Navigation Co 1st M call for
Atlantic Refining Co—Stock $50,000,000
Eq
Par
Amount
Rate
When
Bonds
first page]
Value
Outstanding
%
Payable
None
1908
1901
—
Preferred stock 7% cum $15,000,000 call 115 sinking fund.
Auto Sales Corp—Com auth $4,500,000
Pref (a
EM
See text
1911
the $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 % or Western Minerals
Co. outstanding stock. V. 110, p. 1746.
In Jan. 1920 purchased 32 pro¬
ducing wells and 800 acres of oil land in the Coalinga district from the
Nevada Petroleum Corp. V. 110, p. 361.
In 1908-09 the Southern Pacific Co. acquired control and on Aug. 31 1919
owned $20,069,000 stock and $8,612,000 of the $8,81*0,000 1st Ref. 5s.
DIVS.—1905. 1906. 1907. '08-'12. T3-T4. 1915. *16. '17. *18. '19. '20
Percent...
3
lJA% 1H%
None.
3 yrly. 4A
4
5
5
5
text
In Jan. 1920 paid 1A%, Increasing annual rate from
5% to 6%. Apr.
1920, 1^%.'
REPORT.—For calendar year 1919 in V. 110, p. 1746.
1919.
1918.
1917.
Calendar Year—
Total receipts
Net earnings
$4,082,531
$2,553,475
$1,853,954
C
C
$1,608,102
Paul Shoup; Treas., W. A. Sloan; Sec., P. G.
Office, Sharon Bldg., San Francisco.—(V. 110, p. 1091, 1746.)
ATLANTIC GULF OIL
CORPORATION—(V. 110,
p.
1292, 1528.)
T. SECURITIES CORPORATION.—Formed under laws of Dela¬
an authorized capital of
3.000,000 shares of stock,
or par value. Each share ranks
equally with
every other share as respects dividends, voting rights and distribution of
assets.
To provide a cash balance, 1,000 shares of the stock of this
corpo¬
ration was subscribed for at $100 per share.
Controlled by Whelan interests which also control United Retail
Stores
Corp., Montgomery, Ward & Co., Inc. (new co.), &c.
An initial dividend $1 25 per share was
paid Dec. 5 1919. V. 109, p. 1989.
In 1920; Mkr. 15, $1 25; June 5, $1 25.
The corporation offered to
acquire all of the issued shares of the copimon
Oct. 8 1919 with
all common, without nominal
stock of the American Tobacco Co. (about
$40,242,400, par $100 £ Share),
and to pay therefor by issuing and delivering four shares of
the caramon
stock for each share of common stock of American Tobacco Co. V.
109,
p.
1894,
1989.
The stockholders were to vote June 3
1920
on
(see above),
CAPITAL STOCK.—990,968 shares of common stock were
listed on th
N. Y. Stock Exch. in Dec. 1919.
representing the amount issued
e
and out¬
standing.
The company was granted authority to list an additional
619,728 shares on notice of issuance in exchange for Amer. Tobacco Co.
stock, making the total amount applied fo r 1,610,696 shares.
ommon
OFFICERS.—Pres., George A. Harder; V.-Pres., Angier B. Duke; F. E*
Vantine, B. W. Stiles, W. B. Bell; V.-P. & Treas., R. A. Norriss;
Sec., C. E*
Mapes.
The directors are George A. Harder, Angier B. Duke, G. M. PMurphy, Joseph E. Widener and Thomas Yuille.
N. Y. office, 511 5th
Ave.—(V. 110, p. 1645, 1975.)
ATLANTIC GULF & WEST INDIES STEAMSHIP
LINES.—Incorp. in
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,
Mallory, N. Y. &
Cuba Mail SS. Co..and all of the stock of the N. Y.
& Porto Rico 8S. Co
1.919 acquired control of an oil field in the
Tampico district in Mexico,
which will be operated by the "Atlantic Gulf Oil
Corp." V. 110, p. 1528
v*
v.
The Mexican Navigation Co. (controlled)
104,
'J"
p.
in Feb. 1918 sold its entire fleet
capitalists for $4,250,000. V. 106, p. 2659, 609; V.
103, p. 760;
i(|8q' 8^P- 160; V 93. p. 409; V. 99, p. 1530; V. 102, p. 1432;
1589.
I he
coastwise
service
company control Dec. 6 1918, and in Feb.
the excessive operating costs,
reverted
from
Government
to
1919 the Clyde Line, owing to
suspended service on three of its lines.
V. 108
P- 686.
Proposition to sell the company's ship was dropped in
May 1919*
V. 108, p. 2243.
Net gain since Aug. 1914 in vessels owned or
controlled,
to July 26 1919, 1,284 tons.
The corporation and its subsidiaries on Dec. 31
1918 held $8,710 361
$12,360,420 marketable stocks and bonds. On Dec. 31
1918 with Its subsid's held $20,109,250LIberty Loan bonds.
V.106,p.2659.
The Clyde Steamship Co., early in
cash in addition to
1920, acquired by purchase the
ship interests of Edw. M. Raporel & Co., Inc. V. 110, p. 766.
steam¬
June 10 *20
May 1 1920 1H
3%
May 1 '20 1X
*19
7
1H By check
May 1 1920
None
See
Q—M
text
J
5
&
Mar
'20
3
D June 1
1H
1931
N Y
Empire Trust Co,
Gross
1918.
1917.
1916.
$26,633,550 $48,212,055 $35,175,970
$4,651,464 $15,137,633 $10,481,251
882,867
2,138,143
284,352
revenue
Net operating revenue
Other income
_
income.:
$5,534,331 $17,275,776 $10,765,603
$1,300,394
$1,347,737
$1,409,784
750,000
5,400,000
237,649
773,950
880,527
883,503
Bond interest, &c__
Federal taxes (estimated)
depreciation
Net income.
$2,709,987
$9,647,513
$8,234,667
From income as above in 1918, $2,709,987, deduct pref. dividends (5%),
$687,145; common dividend (10%), $1,496,340; divs. on sub. cos. stock not
held by A. G. W. I., $4,236; leaving a balance of $522,266.
OFFICERS.—Chairman, Galen L. Stone; Pres., A. R. Nicol; Treas.,
Charles R. Page.
Office, 11 Bway., N. Y.—(V. 1A0, p. 766. 1091.)
ATLANTIC LOBOS OIL CO.—(V.
ATLANTIC
p.
MUTUAL
109, p. 1275; V. 110, p. 972.)
INSURANCE CO.—(V.
106, p. 501; V.
108.
482.)
REFINING
CO.—ORGANIZATION.
Ac.—Incorporated
In Pennsylvania In 1870.
Has refining plants at Philadelphia
Franklin
and Pittsburgh, Pa., and Brunswick, Ga., capacity in Jan. 1920 about
75,000 bbls. daily.
Formerly controlled by Standard 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, Texas, with
properties situated in the Gulf Coast district of Texas.
V. 105, p. 821; V.
1j7, p. 292,1483.
Tax decision in March i918, V. 106, p. 1232.
The
Atlantic
Refining
&
Asphalt
Corporation,
a
subsidiary
of the
Atlantic Refining Co., was incorporated in New York State in Jan. 1919
with an authorized capital stock of $10,000.
V. 108, p. 482.
"La At-
antica," owned by the Atlantic Oil Prod. Co., is erecting a refinery at Port
Looos, Mexico, capacity 10,000 bbls.; this is expected to begin operation in
Jan. 1919.
The Atlantic Oil Prod. Co. also controls the Panuco-Boston
Oil
Co. of Mexico,
the Atlantic Oil Shipping Co. and the Irvine Develop¬
Co., and is interested in the Producers Terminal Corp. of Tampico,
ment
DIVIDENDS.—On pref. stock No. 1, Apr. 10 1916,
1%; July 1, 1%;
V. 102, p. 977, 1061.
In Oct. 1916 a dividend of ix/i% was paid, In¬
cluding
% for the Apr. and H % 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. (1%% 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.
An Initial dividend of 5% was
paid Feb. 1 1917 on the common stock
Aug. 1917 5% and 1% to Red Cross; Feb. and Aug. 1918, 5% cash.
and Aug. 1919 ann Feb., 1920, each
5% cash.
t
STOCK.—The shareholders voted Oct. 6 1919 to increase the auth. com.
stock from $5,000,000 to
$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.
Feb.
BONDS.—The auth. issue of collateral trust
5% gold bonds Is $15,000,000.
The $2,000,000 unissued can
only be put out on vote of 66 2-3% of
pyef. stock.
Redeemable at 105 and Int. on any date by lot
No foreclos¬
ure proceedings can be
brought for default in Int. for less than 2 years
V. 88. p. 160.
Brunswick SS. Co. 1st 5s in June 1916 had all been
paid off
V. 102, p
2168.
All coupons free of Federal Income tax.
6
1919.
The
115.
Pref.
new
stock is redeemable
common
as
a
stock will remain
the tiesaury.
1
1924 at
V.
whole after Nov.
in
109, p.
579, 1275.
Merger of Port Lobos Petroleum Corp. with La Atlantic*, into Atlantic
Lobos Oil Co., combining Mexican
properties in V. 109, p. 1275.
Guaranty
relating to Atlantic Oil Producing Co. and acquisition of Atlantic-Lobos Oil
Co. stock, V. liu, p. 972.
Dividends on common stock Dec. 1914 to June 1920, 5% quar.
Initial
div. of 1 % % on pref. paid Feb. 2 1920; same amount paid
May 1 1920.
REPORT.—For cal. year 1919, in V. 110, p. 2187, showed:
Earns. Before
Federal
Earns, after
Divs. Paid
Year—
Fed. Taxes.
Taxes Paid.
Fed.Taxes.
(20%).
1919
$13,623,669
$4,752,623
$8,871,046
$1,000,000
1918
19,610,000
12,200,000
7,410,000
1,000,000
12,931,000
3,925,000
9,006,000
1,000,000
9,828,000
200,000
9,628,000
1.000,000
Profit and loss surplus Dec. 31 1919, $56,324,454.
1917
1916
Balance,
Surplus.
$7,871,046
6,410,000
-8,006,000
8.628.000
OFFICERS.—Pres., J. W. Van Dyke; V.-Ps., W. P. Cutler, W. M. Irish;
Sec., W. D. Anderson; Treas., Albert Hill.
Office, 3144 Passyunk Ave.,
Philadephia, Pa.—(V, 110, p. 263, 584. 661, 972, 2187.
ATLAS POWDER CO.—ORGANIZATION .—Incorp. in Delaware
Oct;
18 1912 and took over as of Jan. 1 1913, per plan of disintegration part oT
the properties of the E. I. du Pont de Nemours Powder Co. (V. 94. p. 1386
1629, 1698; V. 95, p. 969; V. 97. p. 446.
In 1915-16 purchased the entir®
outstanding capital stock of the Giant Powder Co., Consol., of Cal., &c.
STOCK.—One-half of the common stock received
by the 27 defendants
In the du Pont Co. dissolution is without voting power.
The stockholders
p) April 24 1915 authorized an issue of $5,500,000 6% cum. pref. stock
on. & d.), red. on any
Aug. 1 beginning 1925, at 110. V. 100. p. 1595
V.
102. p.
1899.
1627
Entire capital stock of Richards & Co., Inc.. and its two selling companies,
the Zapon Leather Cloth Co. and Celluloid Zapon Co. (V. 106,
p. 193),
was
STOCK.—Both the company's stocks were listed on N. Y. Stock Ex¬
change In July 1918.
See official statement to the Exchange as of June 21
describing the properties, stock rights, &c.
V. 103, p. 157 to 161.
During 1917 purchased at market price $826,000 of its collateral trust
bonds, and 12,370 shares of its pref. stock at 60 or under: also $543,000 sub¬
sidiary company bonds were purchased, either by the corporation or its
subsidiary companies. V. 106, p. 2659.
12 In
6
New
b Carolina Terminal Co. 1st M
5 MAN
503.000
Nov. 1 1937 (V.05, p. 1748)
Mallory SS. Co. 1st M
6 J A J 2,841,000
Jan. 1 1932 (V. 83. p. 194)
b U. 8. A Porto Rico Nav, 1st M..5 MA 8
97,000
Mar.
1921
C Clyde SS. Co. 1st M
5 F A A 3,279,000
Feb. 1 1931 (V. 82. p. 807)
a Callable at par.
b Callable at 105.
c Callable at 110
REPORT.—For cal. year 1918 (incl. sub. cos.), V. 109, p. 473.
dissolving the
final preparations were made to dissolve the A. T. Securities
Corp. in r.ime
to permit A. T. Securities stockholders to receive
directly the stock dividend
which is payable by American Tobacco
Aug. 1 to stock of record July 15.
to Mexican
Equitable Trust Co. N Y
New York
N Y Trust Co. N Y
1921
June 15 '20 5% Co office, Phila. Pa
Mexico.
company.
Following ratification by the American Tobacco Co. stockholders of the
plan for distribution of a 75% stock dividend in "B" common
*
J 959
Mar 1
ATLANTIC
A.
ware
1
See text
5
5 g
20 in *19
7
c
OFFICERS.—Pres.,
Williams.
Jan
5g
Rentals, &c
.
Balance, surplus
*19
Bonds of Sub. Companies $14,547,000 Dec. 31 1917 (See V. 106.p. 2660).
Int.
Outstanding.
Maturity
$487,000 Oct. 1 1934 (V.91,p. 1887)
N Y.Cuba Mail 88. Co. 1st M..5 J & J 5,703,000
Jan. 1 1932 (V. 89, p. 229)
N. Y. A Porto Rico SS. Co. lstM.5 MAN 1.307,000
May 1 1932 (V. 88. p. 235)
Additional
1916.
.
$38,521,167 $31,243,481 $28,188,565 $21,663,906
10.799,354
11,076,993
7,721,363
6,625,886
Interest, taxes, &c
2,327,623
3,863,287
1,260,357
1,068,390
Depreciation
2,401,388
2,672,399
2,619,217
2,359,107
Dividends
....-(5%) 1,987,811 (5)1,987,832 (5)1,987,834 (4)1,590,287
Places Where Interest and
Dividends are Payable
and Maturity
bClydeSS. Terminal Co. 1st M..6 A AO
Operating
BONDS.—Of the $25,000,000 first Refunding bonds, sufficient are rereserved to retire the 1st M. 5s of Aug. 1 1922.
V. 75, p. 1149; V. 102.
p. 1538; V. 101, p. 1888; V. 88, p. 1432.
$1,169,000 was held in treasury
on Dec. 31 1919.
10 In
5
Dividend
Last
Mar 15'20 $1.25 Paid by check
Feb 2 1920 5
New York
See text
do
New
$100 $14,963,400
100
13,742.900
500 &c
11,048,500
14,120.000
"i",o65
97,000
100
5,000,000
100 20,000,000
100
5,002,400
100
9,000.000
None
137,000 shs
100
5,500,000
$50
$4,029,569
50
2,656,149
100 &c
96.600
Pref ?a & d) stk 7% cum $20,000,000 non-vot call text.Eq
Atlas Powder Co—Common stock autta $10,000,000
Preferred stock (a Ar d) 6% cum, $10,000,000 (see text)
Austin Nichols & Co, Inc—Com stock 150,000 shares
& d) stock 6% non-cum partic auth $3,000,000
Weighing & Scale Co sinking fund 5s
[Vol. 110.
purchased
as
of July
1
Power Co. thereby increased
plant.
V. 106,
DIVS.—
p.
1913.
Common...1 A%
1914.
6%
1915.
1916.
1917.
1918.
1919.
11H%
25%
*26%
*21%
6%
6%
6%
Includes Red Cross dividend of 1% paid in June.
Preferred
*
1917, and outstanding pref. stock of Atlas
by $1,802,000 to $9,000,000.
U. S. ammonia
823.
...
3%
REPORT.—For calendar year 1919, in V.
Cal.
Gross
Net
Preferred
Yr.:
Sales.
Income.
Dividends.
1920.
12
3,3,—,—
6 l^.l^.-.-i
110, p. 657.
Common
Balance,
Dividends.
Surplus.
1919..$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
1917.. 27,487,631
3,050,481
(6%)486,513 (26%) 1,300,617
1,263,352
Pres., W. J. Webster; Sec.-Treas., Leland Lyon.
General office, 140
N. Broad St., Phila.—(V. 109. p. 1528; V. 110,
p. 657.)
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, (b) 51 % of the Capital stock of the Wilson
Fisheries Co., owning two plants for the canning of salmon in
Washington,
and three in Alaska; and (c) the 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, and the Wilson Jam &
Jelly
INDUSTRIAL STOCKS AND BONDS
May, 1920.]
Dale
see notes on
first page]
Par
Amount
Rate
When
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c.,
Value
Outstanding
%
Payable
100
Babcock & Wilcox Co.—Stock authorized $15,000.000
First mtge $15,000,000 gold redeem text __PeP.kvc* &r*
Standard Steel Works 1st M gold sink fund.. PeP.ko'&r*
Barnet Leather Co.—Common stock 40,000 shares
Pref. (a. & d.) 7% cum. s. f. stock, call. 115, $2,000,000 —
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__
Bethlehem Motors Corporation—Stock 200,000 shares—
Bethlehem Steel Corp.—Common stock $15,000,000, Class A
100
1910
1908
1.000
Ac
1..000
None
100
100
100
1899
1.000
None
•
a former subsidiary of Wilson & Co.
Warehouses and fac¬
Utica, Watertown and Ogdensburg, N. Y., New
Haven, Waterbury, Bridgeport and Norwich, Conn., and Minneapolis.
V. 109, p. 579, 2358.
Preserving Co.
,
tories in New York City,
STOCK.—Cumulative sinking fund for the redemption of the Pref. stock
at
exceeding 115 and div. will receive from profits, commencing in
equal to 3% of the Pref. stock issued.
No mortgage without
not
1921,
and
Where Interest and
Places
Dividends
Maturity
are
Payable
New York
Cheoks
mailed
do
do
Phila. & Brown Bros, NY
Phila
Penn Co for Ins,&c
17 Battery Plaoe, N Y
do
do
Phila Land Ti & Trust
New
183,334shs.
100
100
$75,000,000 non-voting
100
Pref stock 8% cum and convert call 115 $30,000,000
100
Pref (a
&
d) stock 7% non-cum $15,000,000
See text.
1918
Cons M $500,000,000 g; Ser A $70,000,000 call 105 s f 1920
1918
Ser gold bds (Spar Pt Dry Dk) $1,250,000 due 20% yrly__
i~665
Sec Notes due $7,500,000 1922; rem "23 call
Ba.c* 1918
Securities of Controlled Companies—
1901
1,000
Beth Steel purch money mtge for Beth Iron gold_GP.zc*&i
1900
1,000
do
1st Ext M g guar red 105 $12,000,000_(i.xc*
500 &c
1912
do
First Lien <& Kef M g gu redl05 sf_Ea.xc*&r*
1916
do
1,000 & c
Pur Mon & Imp M $60,000,000 call 105 s f. Bakc*&r
1920
1,000
Eqtr ctfs due $266,000 ann redlOO&J^ %ea yr unexp.G.c.*
a After deducting $1,098,000 in sinking fund,
b After deduc ting $2 .400,000
g Dec. 31 1919, $21,970,500 out; $21,970,500 in treasury;! 5.270.5 00 in sink
* $22,277,000 with public Dec. 31 1919, $9,711,000 in treas ury.
y $6,936
purchased for sinking fund or canceled.
Common stock Class B
Last Dividend
15,000.000 8% in '19
Q—J
Apr 1 1920 2%
text
&
J Jan
20,000,000 See
1 1920 3K
&
20,000,000
7
J Jan 1 1920 3K
5 g
MAN May 1 1940
a8,902,000
J
&
J Jan
b2,600,000
1 1928
5g
40,000 sh.
1.966,500
7%
Q—J
Apr 1 '20 IK%
16,443.100 8 in 1919
Q—J
Aprl 1920, 2%
7
7.811,400
Q—J
Apr 15 '20. 1H
5 g
A
&
O Apr
1.846,000
1939
100
Baldwin Locomotive Works—Common stock $20,000,000--.
Pref (a & d) stock 7% cum $20,000,000red 125,beg July'16
153
14,862,000 8K 1919
45,000,000 8K 1919
30.000,000
14,908,000 7 in 1919
646,000
1,227,524
Q—J
Juy 1 1920 1 %
July 1 1920 IK
Qq-JJ
Oct 1 1920
Oct 1 1920
Q—J
Is
30,016,000
7 g
7,500,000
y6,936,000
gl2,759,500
x22,277,000
2
IK Checks mailed
Aug 1 1948
Dec 31 '28 to'32
J & J
15 July 15 '22-'23
Q—F
5 g
J
M
&
J
Glrard
1 1926
N May 1 1942
&
7 g
M
2,660,000
sinking f und.
Ingfund or canceled,
Trust Co,
Phila
Harvey Flsk & Sons, N Y
Equitable Trust Co, N Y
Bankers Trust Co, N Y
July 1 1936
N May 15'21to'30 Guaranty Trust Co, N Y
Jan
&
f e
New York
Aug 1 1998
&
In
.000
outsta nding De
c.
31 191 9; $1,000,000 in
BARNSDALL CORP.- -(V. 110,
1750, 1975, 2078.)
p.
treasury;
$4,064,000
972, 766, 1091, 1190, 1292, 1528,
(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
a sum
2-3 of the Pref. stock.
Regular quarterly dividends of 1%% paid on the
Pref. stock of the N. Y. Corporation, from Feb. 1 1912 to Aug. 1 1919; on
the^pref. stock of the new company paid IK % quar. Nov. 1 1919 to May 1
REPORT.—For year ended Jan. 31 1920: Profits, $1,616,469; Fed. taxes,
$352,000; dividends, $257,826; surplus, $1,006,642.
Harry Balfe, Chairman of Board; C, W. Patterson, President.—(V. 109,
p. 373, 579, 890, 1181; V. 110, p. 1645, 2077.
AUTO CAR CO.—(V. 109, p. 1794; V. 110, p. 1292,
1750.)
1917, successor to Auto Sales Gum & Chocolate Co., as per plan (V. 104,
2345; V. 105, p. 1900).
Manufactures automatic vending and weighing
machines, chewing-gum and chicle products, chocolate, &c.
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.
STOCK.—The Pref. stock shares equally with the Common stock after
6% has been paid in any year in that stock.
No mortgage without consent
Stock
outstanding Pref. stock.
Exchange in Oct.
Both classes of stock listed on N. Y.
1919.
paid May 15 1918;
July and Sept. 30 1918, 1% each; Dec. 30 1918, 2%; March 31 and June 30
1919, 1% each; Sept. 30 and Dec. 31 1919, 1K% regular and K% extra.
DIVIDENDS.—On Pref. stock, initial div. of 1%
March
31
1920, 1^%.
ended Dec. 31 1919, gross earnings, $1,739,206;
$352,751; other income, $28,227; net income, $308,957.
F. Hurd, Pres.; John Brandt, Y.-P. & Gen. Mgr.;
F. E. Lang, Sec.
New York office, 13th St. & Van Alst Ave., Long Island
City.—(V. 110, p. 1641, 1975.)
REPORT.—For year
OFFICERS.—G.
&
always be twice the pref.
,
stock from $15,000,000 common and $5,000,000 pref. to $25,000,000 com¬
mon and $12,500,000 preferred.
Shareholders of record were then per¬
mitted to subscribe at par ($100 a share) for approximately $2,850,300
and $2,723,900 com., making the outstanding stock after Jan. 15
$16,443,100 com. and $7,811,400 pref.
V. 104. p. 954. 1047. 2345,
Owns the $95,000 bonds of Peters Paper Co. or Latrobe, Pa.
Com.Div.(%)1903-09.
In cash
5K yly.
do
WILCOX CO.—ORGANIZATION.—Incorp. in N. J
Stock auth
Dividends
7% per annum have been paid Q.-J. since 1906increased to 8% p. a.
(Q.-J.) in July 1917; then toApr. 1920, 2% quar.
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 Barbeiton, O.
V. 107, p. 405. The annual report
for the year ending Dec. 31 1919 shows: Total income, $8,275,894; Less:
depreciation, $277,800; Federal taxes, $5,014,162; loss on sale of U. S. Govt,
bonds, $109,457; dividends, $1,200,000; surplus for year, $1,674,475.
Profit and loss, surplus, $10,390,750.
For balance sheet, &c.t see V. 110,,
REPORT—Report for cal. year 1919, in V. 110, p. 1182,
1919.
1918.
1917.
sales
$32,235,947 $41,339,665 $34,297,371
Gross inc. (all sources)..
7,530,780
11,150,301
9,235,871
Net income
2,222,785
3,789,561
3,673,244
Bond, &c., interest
222,034
175,308
211,856
Pref. div.
(7%)
Common
(cadi) div...(8)1,309,164 (8)1,306,912
Common
1641.
OFFICERS.—Chairman, E. H. Wells; Pres., W. D. Hoxie; V.-P.,
A. G. Pratt; Sec., J. E. Eustis; Treas., J. G. Ward.
N. Y. office, 85
Liberty St.—(V. 109, p. 1082; V. 110, p. 1528, 1641.)
p.
(THE) BALDWIN LOCOMOTIVE WORKS.—ORGANIZATION.—
Incorporated in Pennsylvania June 1911 as a consolidation.
Works In
Philadelphia; foundries, Bhops, &c., at Eddystone, Pa., and Burnham, near
Lewistown, 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
1915 erected extensive new shops at Eddystone, Pa., eventually for con¬
struction of locomotives, but for the immediate use under lease for war
materials.
V. 108, p. 875; V. 109, p. 75.
European orders, V. 110,
2195.
STOCK.—Pref. stock cannot be increased without consent of majority o'
pref. shares outstanding.
V. 92, p. 1703; V. 93, p. 47.
1st 5s of 1910
($15,000,000), $5,000,000 are reserved
of cost of extensions and improvements.
Redeemable as a whoit
May 1 1915 and by lot at 107 K for an annual sinking fund o<
at 115 after
2% of the maximum bonds theretofore Issued. V. 91. p. 40; V.
1046; V. 92. p. 1703);
sinking fund installments, aggregating
90, p. 1104
$1,098,000,
paid 1915 to 1919.
Standard Steel Works Co. has auth. $5,000,OUe
1st M. sinking fund 5s, of which $5,000,000 have been Issued, $2,400,000
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.
were
REPORT.—For year ending
Cal.
Gross
Gross
Year.
Sales.
Income.
$
Dec. 31 1919, in V. 110, p. 761:
Bond
Pref . Divs
Com7
Balance,
$
Int.,&c.
(7|o).
Div.
Sur. or Def.
4,169,428 1,400,000 700,000 sur.3,676,243
84,307,776
9,945,671
sur.4,352,29,5
1918..123,179,252 19,760,441 14,008,145 1,400,000
4,434,764 a,400,000
sur.6,905,722
1917.. 98,263,865 12,740,486
4,423,471 1,400,000
sur.1,219,466
1916.. 59,219,058
7,042,937
682,567 1,400,000
sur.1,417,816
1915.. 22,083,011
3,510,383
1919..
OFFICERS.—Chairman, Arthur E. Newbold; Vice-Chairman, Wm. L.
Pres., Samuel M. Vauclain; V.-Pres. & Treas., Wm. de Krafft;
V.-Pres., John P. Sykes, Grafton Greenough, F. de St. Phalle, Jas. McNaughton; Sec. & Asst. Treas., Arthur L. Church.
Austin;
DIRECTORS.—William L. Austin, -Alba B. Johnson, Samuel M. Vau¬
S. F. Pryor. Arthur E. Newbold, Arthur W. Sewall. B. Dawson
Coleman, Thos. G. Ashton, Harold T. White, Sidney F. Tyler, William E.
Corey and Sydney E. Hutchinson.
Office, 500 N. Broad St., Phila.—
(V. 109, p. 75, 272, 1275, 1701; V. 101, p. 761, 766, 2195.)
clain.
BARNET LEATHER CO.. INC.—ORGANIZATION.—Incorp. in Dela¬
ware, Aug. 2 1919, succeeding to company of same name.
Manufactures
high grade calf leathers.
Tannery and plant at Little Falls, N. Y.
See V.
108, p. 2631.
CAPITALIZATION.—No
standing.
thereafter.
mortgage
without 75%
of Pref. stock out¬
Sink, fund 3% p. a. first three years
Both classes of stock listed on N. Y. Stock Exchange.
Callable at 115.
and 5%
Initial
quarterly div. of 1K% paid on Pref. stock Oct. 1 1919, V. 109 p. 1181.
Jan. 1 and Apr. 1 1920. 1 %%.
EARNINGS.—For 6 months ended Dec. 31 1919: Gross profit,
$1,581,$620,009; pref. divs., $69,414; surplus, $550,595.
Bal¬
602; net income,
ance sheet,
V. 110, p. 1524.
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. 110, p. 873 1524.
545,122
546,655
(stock)
Reserves, &c
div
^
....*Cr.231,261
shows:
1916.
9,547,604
5,165,286
425,265
333,249
(7)1,304,542(17)2026.426
(7)790,900
*333,530 *Cr.266,913
758,772
Balance, surplus
a$376,193 a$2,095,749 a$2,268,494
*
Reserves are deducted before arriving at "gross income."
$1,097,283
a
After providing for
EARNINGS
Federal taxes.
OUTLOOK FOR
1920.—See V. 109, p. 2265.
OFFICERS.—Chairman, Eversley Childs; Pres., W. H. Chiids; Sec. and
Treas., E. J. Steer.
Office, 17 Battery Place, N. Y.—(V. 109, p. 2265;
V. 110, p. 1182, 1190.
BEAVER BOARD COMPANIES.—V. 109, p.
1190
2078
Delaware
1369, 2173; V. 110, p.
2195.
BETHLEHEM
on
MOTORS CORP.
June 30
1919
as
(OF DEL.).—ORGAN.—Incorp.
successor
of
in
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
trucks built in carrying capacities of IK. 2lA and 3)4 tons.
Factory
area or the
N. Y. Stock
buildings at Allentown and Pottstown.
Approximate floor
two plants is 200,000 sq. ft.
See full official statement to the
Exchange in V. 109, p. 1188.
STOCK.—The stockholders voted Dec.
8 1919 to increase the
shares, no par value.
Dec. 1 were given the right to subscribe at $28 per
to the extent of 33 1-3% of their holdings.
Tucker.
stock from 130,000 to 200,000
pref., 1912 to Jan
1920, 7% (3H% s.-a.).
On
com., in 1912 to July 1915, 2% (J. & J.); none thereafter until Jan. i 1920,
when 3M% was paid.
DIVIDENDS.—On
for 75%
text
Net
of
BONDS.—Of the
'20,
See
--
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.
1920: Jan., 2%; Apr., 2%.
1881 and manufactures water tube boilers, heaters, &c.
and issued, $15,000,000 (par $100).
No bonds; no mortgages.
In
p.
'19.
8
1911-14. 1915. 1916. 1917. '18.
7% yly.
7
7
7
7
5 stk. 7 stk.
10
1
1910.
6
extra..
pref.
1918
2454.
In
net profit,
BABCOCK
STOCK.—The full-paid common stock must
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
stock and
AUTO SALES CORP.—ORGANIZATION.—Incorp. In N. Y., Nov. 12
of 2-3 of
V. 102, p. 346; V. 100, p. 1595; V. 105, p. 2096.
Also under¬
of the $977,500 stock of H. F. Watson Co., asbestos
goods, Erie, Pa.
V. 106, p. 1371.
Is interested with General Chemical
Co. and Semet Solvay Co. in National Aniline & Chemical Co.
V. 108, p.
1166; V. 109, p. 267.
Property acquired for new building, V. 110, p. 1190.
Jan. 1916.
stood to own 45%
underwrote this issue.
capital
Stockholders or record
share to 43,334 shares
Anthony & Co., N. Y.
V. 109, p. 1989, 2265.
EARNINGS.—Condensed Income accounts years ended June 30 1919.
Beth. Mot., N.Y. No. Am. Mot.
Total.
Sales
$3,516,028
$2,001,386
$5,517,414
Net profit after taxes
$199,124
$365,626
$564,750
Income account, 5 months ended Nov. 30 1919;
Sales, $1,739,179; net
profit after taxes. $140,682.
'
_
OFFICERS.—Arthur T. Murray, Chairman; H. F. Harris, Pres.; D. G.
„
Dery, V.-Pres.; S. C. Potter, V.-P.; H. B. Hall, V.-P.; Martin E. Kern,
Treas.; M. H. Beary, Sec.
Directors.—Arthur T. Murray, D. G. Dery, Duncan A. Holmes, Martin
E. Kern, George R. Bidwell, H. F. Harris, C. R. Ford, J. F. Farrell.
N.
Y. office, 30 Church St.—(V. 110, p. 263, 467.)
_,
,
BETHLEHEM
STEEL
CORPORATION.—ORGANIZATION.—:Incorporated in N. J. on Dec. 10 1904 as successor, per plan V. 78, p. 587, of
S. Shipbuilding Co., and Dec. 31 1919 owned entire stock of:
(1)
Bethlehem Steel Co., with its great steel plants at Bethlehem, Pa., Sparrows
Point, Md., &c.; interest in Cornwall iron ore properties and numerous
subsidiaries, notably Bethlehem Steel Bridge Co., Bethlehem Loading
Co. (V. 106, p. 2652), Spanish-American Iron Co. of Cuba, and Bethlehem
Chile Iron Mines Co.; (2) Bethlehem Shipbuilding Corp. (V. 105, p. 1619.
1804; V. 106, p. 2652), owning plants Sparrows Point, Md., Wilmington,
Del., Elizabethport, N. J., &c., and also operating under .lease ithe Plants
of the other controlled corporations, viz.:
Fore River Ship build ingC orp.
of Quincy, Mass., and Union Iron Works (and U. I. W. D. D. Co.) of
San Francisco (V. 105, p. 1619, 1804).
(3) Bethlehem Hon Mines Co.,
Cuba.
(4) Penn-Mary Coal Co. (V. 82, p. 1050; V. §5, p. 1520, V. 87,
n
1359* V
91
n. 278; V. 94, p.
1121; V. 100, p. 2013; VTl05, p. 1619.)
the U.
100.
231.)
(5) Eastern Coke Co. (V. 104, p. §68, 1TO5; V. 93, p. 1603; V.
p.
Other subsidiaries are: Beth. Steel Prod. Co., Phila. Beth. & N. E.
& Highspire R. R. Co., Patapsco & Black Rivers R. R.
Co
Cornwall R. R. Co., Ore S. S. Corp., Lebanon Cons. Water Co.,
Lebanon Water Co., Lebanon Co. Lt. Ht. & Fuel Co., Pine Township
Water Co., Possum Glory Water Co., Juragua Iron Co., Dunkalk Co.,
Saucon Land & Impt. Co., Fore River R.JR. Corp., WJatson 1D11 Dev. Co.,
Redington Standard Fittings Co., Beth. Mines Corp., Service Stores Corp.,
and Sparrow's Point Store Co.
R. R. Co., Steel ton
In October
acres
1919 purchased
of coal land in West
Elkins Coal & Coke Co., embracing 46,000
Virginia, with coal reserves of more than 150.-
000,000 tons, and equipped for an annual output of 1.500.000
which will be increased to 3,000,000 tons.—V. 109, p. 1611.
tons of coal,
Pres., E. G.
announced, in April 1920, that favorable action had been taken on
the purchase of part of the bituminous coal properties of the Jamison Coal
& Coke Co., V. 110, p
1750.
Grace
INDUSTRIAL STOCKS AND BONDS.
154
MISCELLANEOUS
Date
Cornwall
Estate
Amount
Rate
When
Last
Dividend
Value
Outstanding
%
Payable
and
Maturity
Money Mortgages—
1919
$1,000
1919
1,000
465,000
Cornwall
1919
Pur
M
M Mtge call par text_.Pep.kc*
Mtge call any int day text_Pep.kc*
Mtge call any Int day text._Pep.kc*
Lackawanna Iron A Steel Co 1st M assumed
Fore River 1st M g gu due $40,000 yly red
J
&
&
Where Interest and
Dividends
F
&
Pa Co Ins
J July 1
J July 1
July 1 1939
1939
1939
are
Payable
Lives, Phila
do
Ac
530.000
i'
J
&
J July
5g
M
&
S To
Mar
1,903.000
3,931.000
F
&
6 g
do
do
1920-'33
229.000
500
1913
on
do
1,999
1,000
1913
103-OB.xc*
due$20,000yly red 102
Ba.xc*
Steel Properties Guaranteed—
Maryland Steel first mortgage currency
GP.xxr
Penn-Mary Steel Co cons mtge $7,000,000e
(IP.rxc*
Spanish-American Iron 1st M g guar red 102H_ (lP.xxc* Ar
Collat trust loan (Cornwall) s f red 105: V 74, p 1312._xx
Penn Mary Steel Mtge $13,000,00(1 guar call 105--dP.xc*
Bonds of Coal and Coke Companies also Dry Docks—
Eastern Coke Co 1st M (closed) call s f Joint guar.xxljpic*
Penn-Mary Coal 1st M gold gu red 102M (s f 10l)--GP.xx
1st M Elkins prop call 102 M s fd $200 yearly
Fr.c*
San Francisco Dry Dock Co
Union Iron Works Dry Dock
Booth Fisheries—Common stock 500,000 shrs authorized
1st pre! stock $10,000,000 (cum since Apr 1912) red 110
Sink fd deb $5,000,000 t£ red 101 conv Into 1st pf stk.xo*
&
J
J
1,566,000
1,769.500
1,000
1896
Titusv ForgeCo 1 sfc M gu p A 1
J
5X
5y2
5*A
$310,000
Freeman Est Pur M
Pur
Places
(Concluded)—
Ore Banks Purchase
Coleman
Par
Bonds
COMPANIES
IFor abbreviations, &e„ see notes on first page)
Bethlehem Steel Corporation
[VOL. 110.
A Feb
N Y Farmers' L & T Co
1 1926
Old Coiony Tr Co, Bost
1933 Bankers' TrOo.N Y
Bonds of Penn-Mary
Bonds
c
x
y
on
cold storage
5
1895
1,000
500 Ac
1907
1,000
1902
1917
1.000
cl,903,0001
5,100,000;
1.000
6,465,500:
1917
1,000
5.729,000
1892
A
6 g
_
1,000
1.000
1911
y2,774,000
or
cancel
ed,
In 1916 consummated purchase (V. 103. p. 241, 243) of all the assets of
1
&
A
Feb
A
A
O Apr
A
&
O Oct
Trust
do
1925
1927
Co.
Phila
do
Guaranty
Tr Co, N
Girard Tr Co, Phila
Bankers Trust Co. N
1932
1937
Y
Y
1 1931
do
do
Franklin Trust Co, N Y
1 1939
1939
1
Mar 1 1931
Oct
6g
text
6 er
939,314
$3,097,000 purchased for sink fund or canceled,
$1,000,000 auth.; $1,600 in treasury. $483,533 In sink ing fd
In addition $2,035.000 held in sinking fund Dec 31 1919.
1
J Jan
F
Q—J
Q—J
7
4,999,800
plants
O Oct
1*
X514.866
$100
A
5g
Nono 250,000 shrs See
.
Girard
1 1922
&
5
495,000
1909
J
5 g
1,297,000
5,000,000
.
1919
Feb
i
.
1909
A
MAS Sept 1
&
J July 1
J
A
A
1 1929
Apr 1 '19 50 cts Centra! Tr Co of III Chic
do
do
Apr 1 '20 1 % %
Nat City Bk. NY: or Chic
O Apr 1 1926
.
$514 .866 held
by publi'cDec. 31 1919.
Of the remaining bonds part Is reserved to provide for the retirement
First Extension Mortgage bonds and the balance is to be issued
the Pennsylvania Steel Co. of Pennsylvania and Maryland Steel Co., with
their extensive steel plants, shipyard, &c.
Through the medium of Penn
of the
Mary Steel Co., for about $6,600,000, payable in bonds of 1917, acquired
sions, except that a moderate amount may be used as necessary to assist
In refunding.
Annual sinking fund 243% of bonds outstanding {but not
less than $300,000). V. 94. p. 14.50: V. 95, p. 892; V. 96. p. 1300, 1366:
the plants of American Iron & Steel Mfg. Co. at Lebanon and Reading, Pa.,
also acquired other properties.
V. 103, p. 2344; V. 104, p. 1139.
Im¬
provements aggregating $25,000,000 to $40,000,000 were proposed for
Sparrows Point (Md.) plant by Jan. 1 1920.
V. 108, p. 2331: V. 109, p. 175.
Bethlehem-Chile Iron Mines Co. was incorporated in Delaware Jan. 18
1913, controlled by Beth. Steel Co., to operate the Tofo iron mines near
the coast of
Coquimbo, Chile.
Auth. capital stock was increased in Sept.
999: V. 109, p. 890.
Also Bethlehem
$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; V. 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 Tibusville plant.—V. 110, p. 263.
1917
Steel
to
$10,000,000.
Co.
authorized
V.
105.
stock
p.
from
from time to time, subject to proper
restrictions, for additions and exten¬
V. 98,
p. 1002, 1922; V. 99. p. 898; V. 100. p.
The Tlethlehem Steel Co.'s 1st Extension 5s
1169, 1260: V. 105. p. 1524.
are guaranteed, prin. & int..
the corporation; on Dec. 31 1919 $6,936,000 were held by public;
$4,064,000 in sinking fund or canceled, and $1,000,000 In treasury; total
auth., $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.
by
Purch. Money & Impt. Bonds 0/1916 (Made Jointly with Penn-Mary Steel Co.).
Total auth., $60,000,000 (V. 103, p. 1793, 2157; V. 105. p. 1711), viz.:
Issued to purchase Penn. Steel Co. properties (see V. 103.p. 1793)$31,942.000
On Doc. 31 1919 $9,711.000 of this amt. was in the treasury.
Reserved to retire old bonds of Penn. Steel Co. and subsidiaries.
whose stock is owned and
STOCK.—The stock as author ized in Sept. 1917 (V. 105, p. 911) includes
(a) $30,000,000 8% cum. & convert, prcf. non-voting, (b) $15,000,000 7%
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.
non-cum.
In Sept. 1917 holders of the $60,000,000 common stock, A & B, wer®
permitted to subscribe and pay pro rata for $30,000,000 8% cum. (non"
voting) underwritten.
V. 105, p. 911, 1311; V. 106, p. 89.
The 8% cum. pref. stock is (a) entitled to
8% cumulative dividends
(2% quar.) from Oct. 1 1917 ahead of the 7% pref. stock; (b) 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 Rubject to call at 115 and divs. after three years from date of issue
In amounts not less than $1,000,000.
Lato Divs.
(1908-12. 1913.
8% pref
7% pref
__
"
None.
Common
1915.
__
%%
Common
V. 105, p. 911
1914
5
__
B_._
__
OA
__
1916.
1917.
'18.
'19.
'20.
New
__
7
22A
8
8
See
7
Text
7
10
7
text
New in 1917
5
10
8H
8H
In Jan. and April 1919 paid dividends on the common
stock, both "A*
and
B, ' of IH% regular and 1*4% extra.
In July 1919, % of 1% was
paid extra along with the regular quarterly 1 14%, but in October 1919 and
Jan. Apr. and July 1920
only the regular 1*4, with no extra.
_Jn 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 oho company
paid a stock dividend of 200% on Fob. 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 underwritten.
See V. 104. p. 364, 660, 865, 1260, 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.
502v
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
securo advances from War Finance
Corp. for immediate completion of coke
ovens, blast furnaces and steel plants at Sparrows Point. Md., as desired
S- Govt.
$12,400,000 to retire such part of $50,000,000 5% notes
£®th* Steel Co. due Feb. 15 1919 as were not met from proceeds of
$0/ ,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 time upon 30 days' notice,
as a whole or as entire
series in order of maturity at 102 for notes with 4
2i?arso0r mor®t0 run; 10143, 3, but less than 4 years to run; 101, 2, but less
than 3 years to run;
10014, 1, but less than 2 years to run; and 100 for notes
on/ir11 * Xear,t0 runTtie lssue was secured by pledge of
S69.354,00° 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 A % income basis at the time of such conversion.
Series A
notes, $7,500,000 matured July 1 1919 and Series B and C
$7,500,000 each
^foenoai m/LrPay?lei?,t Ju'y 30 1919,
a total of $22,500,000, of which
$19,984,000 had actually been redeemed to Dec. 31 1919.
nnTThe, ^^imted Mortgage authorized in
$500,000,000, and of the initial
1918 is limited to
issue of $70,000,000, $69,354,000 have been
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
pledged to
secure
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.
V. 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, &c., but no such bonds shall be Issued
maturing prior to
these Series A bonds.
Of the total auth. issue, $69,354,000 Series A bonds
are
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
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 will be callable at
105, and will have the benefit of
a 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¬
plied to the purchase of such bonds at not exceeding 105 or to their
redemppriceBonds so purchased or redeemed will be canceled.
1
°fNMtensteeI Company's 30-year 5s of
$12,759,500
on
Dec. 31 1919
were
1912 ($50,000,000 auth.
in the hand of the public, $5,270,-
500 in sinking fund or canceled and $21,970,000
were
in the treasury.
16,949,000
Reserved for 75% of cost of additions and improvements after
March 1 1919 on mortgaged premises or any company 90% of
These bowls have
a
pledged under the mortgage
2*4 % sinking fund from July 1 1916.
11,109,000
In Jan. 1919 the Bethlehem Steel Co. arranged to purchase the additional
interests in the Cornwall iron ore banks at Cornwall, Pa., and on account of
same issued three series of Purchase Money mortgage 543% 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., &c.; (b) 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 (6) ; 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.
I^ckawanna Iron & Steel Co. 1st M. 5s were assumed by Bethlehem
Steel Co. in 1917 on purchase of the Lebanon property.
V. 106, p. 1691.
Equipment trusts of 1920, V. 110. p. 2078.
The mortgage of Penn Mary Steel Co., created on acquisition of proper¬
ties of Am. Iron & Steel Co., is limited to $13,000,000, or which $6,600,000
Issued (incl. $194,500 retired to Dec. 31 1919) and $6,310,000 reserved
for future extensions to 75% of cost of same.
Callable all or any at 105.
Sinking fund beginning Doc. 31 1918 a sum equal to 2 43% of the bonds at
time outstanding.
V. 104, p. 1139.
This Issue has been assumed.
Eastern Coke Co. 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 1023-3 & int.; retired to Dec. 31 1919, $1,271,000. 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 outstanding
Dec. 31. !Q19>, besides assuming $495,000 underlying 5s.
V. 88. p. 941.
Titusvfile (Pa.) ForgeCo. 1st 5s are guar., prin & int. V 96, p. 1492
The Penn Mary Coal Co. 1st M. 5% bonds of Oct. 1 1919, $5,000,000
auth.
and issued,
have
an
annual
sinking fund
of
$200,000
after
Nov. 1 1920, and are callable at any time all or part at 102 A and int.
These bonds, issued, it is understood, in connection with the Elkins pur¬
chase (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 blags. A impts.
Unfilled Orders.—The value of unfilled orders on hand Dec. .31 1919 was
$251,422,545.
This figure reflects all the cancellations made by the
Government of so-called
war
contracts.
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 tons
of ingot steel per annum, representing about 8% of the country's present
capacity, and shipbuilding facilities for 1,000,000 deadweight tons per arm.,
or about one-third of the present steel shipbuilding
capacity of the U. S.
The amount estimated to complete the construction in progress at Dec. 31
1919 is $19,000,000.
REPORT.—For 1919, in V. 110, p. 1285.
1919.
1918.
1917.
Calendar Years—
$
$
$
Gross sales
281,641,907 448,410,809 298,979,531
1916.
$
216,284,555
Total net earnings
x37,441,218 x57,188,769 x53,979,360
61,717,309
Bond, Ac., interest
9,518,205
9,748,013
8,746,982
3,772,555
Depreciation, Ac
12,566,152
31,510,366
17,911,841
14,350,785
Preferred dividend (8%
2,400,000
2,397,800
594,480
Preferred dividend (7 %
1,043,560
1,043,560
1,043,560
1,043,560
Common dividends.
(7 y0 1,040,340(10) 1486,200 (10)1486200(30)4458,600
Common "B" divs._ (7% 3,126,195(10)4458,600 (10)4458600
-
-
-
-
'
_
Red Cross dividends
594,480
Balance, surplus.....
7,746,765
6,544,230
9,143,417
38,091,808
x After providing for taxes (including war income and war excess profits
taxes, expenditures for repairs and maintenance.
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., E. B. Hill; Asst. Treas. A Asst. Sec.,
Wm. J.
Brown.
,
DIRECTORS.—C.
M.
Schwab
(Chairman),
Archibald
Johnston,
Buck, John W. Griggs. Allan A. Ryan, G. M.-P. Murphy,
Henry S. Snyder, E. G. Grace, Eugene V. R. Thayer, Harold Stanley and
James H. Ward.
Office, 111 Broadway, N. Y.—(Y. 110, p. 1190, 1285,
1529, 1750, 2078.)
C.
Austin
(E. W.) BLISS & CO(V. 110, p. 361, 1190.)
BOOTH FISHERIES CO.—OP.GANIZATION.—Incorp.
in
Delaware
May 10 1909 and purchased at receiver's sale all the assets of A. Booth A
Co., Chicago, per plan In V. 88, p. 1063.
Is engaged in buying and selling
*t wholesale and retail fish, oysters and all sea foods, and has a
large fleet
of fishing boats on the Great Lakes and Pacific Ocean.
On April 1 1911
purchased the N. W. Fisheries Co.
V. 100. p. 2088; V. 101. p. 530.
Booth St. Louis Cold Storage Co. has a large cold and dry storage
plant in
8t. Louis.
V. 101. p. 1976.
In Dec. 1916 purchased the Lindenberger
Packing Co. and the Columbia Salmon Co. through its subsidiary, the
Northwestern Fisheries Co.—V. 103. p. 2430.
Early in 1917 purchased
5 packing plants of the Lubeek Sardine Co. and also property of the Maduasport 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 1916 with
$1.000,000 capital stock, primarily to take over and operate the New Bruns¬
wick Sardine Canning Co., with plant near St. Andrews, N. B.
Mat, 19i0.]
INDUSTRIAL STOCKS AND BONDS
Date
Borden Co—Common stock $22,500,000
Preferred (a & d) 6% cum $7,500,000 redeemable at 110
Borne-Scrymser Co—Stock
Braden Copp Mines—Debs (closed issue) g s f call 105-Ba.c*
Brill—(The J G)C o—Common stock.
Preferred (a & d) stock 7% cumulative
Brooklyn Edison Co, Inc—Stock S19.000.000
-
General Mtge S100.000.000 Ser A call 105
Series B (auth. $5,000,000) call 105--.
Par
Amount
Bate
Bonds
MISCELLANEOUS COMPANIES
[For abbreviation,&c., tee notes on first page
Value
Outstanding
%
1916
--
Ce.xxxkkc*&r
Ce xxx c*&r
Underlying Bonds, &c.—
Kings Co El Lt & P 1st M g $2.500,000—
Eq.zc
Pur money M g sec by Edison stk &c {V 76. p 47} - -Ce •xxc*
Edison Elec 111 cons mtge (now 1st) $10,000,000 g.Qxxc*
Debens conv into stock beg Mch 1 1913
xxo*
do
do
beg Mch 1 1916—-xxc*
Brooklyn Ferry Co.—See N Y Terminal Co (V 92, p 1180).
—
Union Gas—Stock $20,000,000
First Cons $15,000,000 e (for underlying bonds see text) _Gz
Debs convertible on & after Nov 1 1924 into stock $ for
1919
1920
1898
1,000
1,000
1,000
1898
1898
1910
100
1913
19.
698.
The
V. 105,
common
p.
1895
1919
V. 102,
p.
2000, 502.
none
since to April 1920.
1 1937
Equitable Trust Co
11997
Pentral Union Tr Co, N
Jan
1
[Guaranty Trust Co. N
6
6
Mch 1 1922
Mch 1 1925
Q—J
V. 108,
2244; V. 109,
p.
p.
REPORT.—For calendar year 1919, in V. 110, p. 1292.
Net
Bond,&c., Depr;,&c., Federal Pref. Divs.
Profits.
Interest. Reserves.
Taxes.
(7%.)
Calendar
Year—
..$1,433,238 $707,728 $245,676 $48,000
$344,947
$2,217,677 $719,876 $498,442 $250,000 $275,833
3,388,829
531.904
354.293
625,000
236.110
1.659,295
378,919
274,024
214,270
.
-
Trust
do
IH
Co,
I
A
V
N
do
By check from Co'soffice
Chase National Batik.NY
M
do
do
plant
"SlVIDENDS.—On
7% pref., l%% quar. to Aug. 1914; Nov. 1914 to
V0
Aug. 1 1919, 4% (1% Q.-F.).
Also Au
lug. 11918 paid 1%; Nov. 1 1918 to
Aug. 1919 paid 3% quar. and on Nov. 1 1919 1 % and 2H % on accumular
tions, entirely discharging same as of date last named. In Feb. and May 1920
paid 1H%.
V. 109, p. 1611.
On common, June 1907 to March 1908,
1% guar.; June and Sept. 1908, Y2 of 1%; none since to April 1920.
.
"REPORT:—ForTmC
V. 110,
p: 762, showed:
1919.
1917.
1918.
Total sales._„_...
1916. Br
$14,210,622 $16,761,155
Oper., gen. &adm. exp.l 13,293,753
15,419,645
Depreciation reserve
/
$7,706,099
6,711,910
$6,180,896
6,087,638
$916,869
"$1,341,510
dividends.(15^)721,350
(8)366,400
425,000
$994,189
(4)183,200
(4)183,200
NetprofitLess— Pref.
—
Federal taxes
Balance,
1919, $939,314, including Midland Cold Storage Co. 5s,
$75,000, due $12,500 yearly June 1919-1925; 1st Mtge. gold 6s of Booth
Cold Stoarge Co. of Minn., 1st M. gold 6s of Detroit Cold Storage & Termi¬
nal Co. ($1,000,000 auth., V. 104, p. 2014), Booth Cold Storage Co. of
Buffalo 1st 6s and Twin City Cold Storage 1st & 2d M. 6s.
In 1916 guar¬
anteed (p. & i.) $500,000 1st M. serial 6s of Booth-St. Louis Cold Storage
Go. due Jan. 1 1917 to 1931, but callable at 102H.
V. 102, p. 2344.
Notes payable Dec. 31 1919, $6,512,687.
1 1919
Franklin
BONDS.—The $325,000 5% bonds on the John Stephenson & Co
due Dec. 31 1925 were paid off at 105 and int. on Jan. 1 1920.
890.
plants Dec.
Oct
1939
MAN May 1 1945
&
N Nov 1 1929
7S S
2,000,000
debentures
($5,000,000) $2,226,000 were In April 1920
in sink,
fund, $2,774,000 were outstanding.
Cum sink, fund $150,000
yearly at outset.
V. 96, p. 655; V. 101, p. 1191.
Bonds on cold storage
1918
1917.
1916
Oct
Oct
.14,698,000
paid July 1912 to Apr. 1920 IH% Q.-J.
On common paid 4% April 1913 in new pref. stock, and in Mar. 1917 a cash
dividend (No. 1) of 2%; Apr. 1 and July 2 1917, {%.
Oct. 1917 to Apr. 1
1919, incl.. paid 50 cts. quar. ($2 per ann.j on new common stock (see
BONDS.—Of
<io
an
Central Union Trust Co
g
.
no par value; 250,000 of tae 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 (on or before Jan. 1 1920) being increased to $6,000,000 ,of which
$1000,200 was in treasury in Dec. 1919.
A further $1,946,000 pref. was
issuable against bonds theretofore retired by sinking fund.
above);
Checks mailed
Checks mailed
4 g
18,000.000 6 in 1919
1.000
100 &c
1438.
5
Y
80 South St, New York
Bankers Trust Co, N Y
1.347,700
100
shareholders voted May 21 1917 to change the authorized
DIVIDENDS.—On first pref.
Bankers Trust Co, N
do
do
4 275 000
346.000
100 See
stock July 1 from 100,000 shares of $100 each to 500,000 shares of
common
2,500,000
5,176,000
&c
Holders of the 6% debentures have the option of exchange at par for the
first pref.
V. 94, p. 125, 489.
Total pref. auth., $10,000,000.
Y. 107,
p.
Places Where Interest and
Dividends are Payabte
and Maturity
*
STOCK.—The first pref. stock, cum. from April 1 1912, with no voting
except while dividends are not paid or set aside.
Last Dividend
$100 $21,368,100 8 In 1919 F
&
A Feb 1 '20
4
100
7,500,000 6 in 1919
June 15 '20 1
Q—M
100
200.000 20 in '19 October Oct 15 '19 20%
1,000
6 g
F
&
A Feb 1 1931
16,477.000
100
4 810 .200
Sept 15 '08 H %
100
4 580,000 See text ~~Q—F~" May 1 '20
t%
100
17.306,300 8 in 1919
June 11920 2%
Q—M
100 See
J
&
J Jan 1 1949
5,500,000
5g
600 &c
6 g
J
&
3,000,000
J Jan 1 1930
Brooklyn
power
When
Payable
151
*
No
sur.
reserve
*85,000
$93,258
90,000
def$89,942
ordef__.sur$l 10,519 sur$550,109 sur$720,989
for i919 Federal taxes deducted.
Pres., Samuel M. Cunven; V.-P., William H. Heulings. Jr.; 2d V.-P.,
Rawle; Sec., Henry C. Esling.—(V. 109, p. 175, 273, 1611; V. 110,
762, 1091.)
J. W.
p.
BRITISH-AMERICAN TOBACCO CO., LTD.
1190,1851,1975,2078,2195.)
(V. 110, p. 362, 467,
BROOKLYN BOROUGH GAS CO.1292, 1417.)
1794; V. 110, p. 766,
(V. 109,
p.
BROOKLYN EDISON CO., INC.—ORGANIZATION.—Successor in
Balance,
Surplus.
$86,887
$473,526
1,641,522
792.082
-
DIRECTORS.—K. L. Ames. P. L. Smithers, W. G. Weil, Andrew M.
Lawrence, Geo. F. Goodnow, W. J. Feron, Charles H. Ewing, Chicago;
K. L. Ames is Pres.; W. G. Weil, Sec., and P. L. Smithers, V.-Pres. &
Treas.
Chicago offices, Majestic Building.—(V. 109, p. 890; V. 110, p.
1292.)
Jan. 1919, by change 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 29th
Ward), City of New York, serving a population estimated at 2,500,000.
V. 108, p. 173, 582; Y. 107, p. 2190, 2380; V. 69, p. 177, 957; V. 70, p. 483;
V. 80. p. 2216.
'
Franchises favorable and, in opinion of counsel are perpetual.
V. 108,
p. 583.
,
DIVIDENDS.—June 1900 to Mar. 1903, 1J4%
1920, 2% quar.
since
quar.;
„
to June
.
(THE) BORDEN COMPANY.—Incorp. in.N. J. in 1899 as Borden's
Condensed Milk Co.
In Oct. 1919 present name was adopted, the business
having been expanded to include evaporated milk, malted milk, milk
chocolate, &c.
V. 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. 667.
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, x>. 82, 1277.
BORDEN'S FARM PRODUCTS CO., INO.—Incorporated at Albany,
N.
Y., April 24 1917.
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.,
Outstanding Dec. 31 1919, $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.
BONDS.—The General Mtge. bonds of 1919 (V. 108, p. 582) are se¬
cured by mortgage on all the company's real and personal property (subject
to 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
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 alsofcover 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
the privilege of conversion into capital stock, as snail be determined by the
steam
,
company.
callable at par.
LATE
DIVS—
[1904 1905 *06 '07 '08 to *14
*15 '16
On common
'17 *18 '19 1920
8
8
8
See
(%)-_(
8
8
8
8
8 yrly
8
8 '
I IH
2
2
2
text.
In Aug. 1917 paid H of 1% to aid Red Cross contributions.
1920, 4%.
Extra
-
-
-
__
text
In Feb.
REPORT.—For 1919 in V.
110, p. 1523, showed:
Gross sales, $122,284,195; net oper. profit, $5,299,080; interest, $290,160; income & profits,
taxes
(est.), $724,317; net income, $4,284,603; dividends, $2,188,679;
appropriations for reserves, $431,315; surplus, $1,664,609.
Chairman, Albert G. Milbank; Pres., Arthur W. Milburn; V.-P., Walter
M. Gladding; Treas., Franklin D. Shove; Asst. Treas., Shepard Rareshide;
Sec., Sidney J. Pearson; Asst. Sec., Wm. P. Marsh.
(V. 110, p. 1523.)
108 Hudson St.—
BORNE-SCRYMSER CO.—ORGANIZATION, &c.—Incorporated in
New Jersey in 1893.
Has lubricating oil plant at Elizabethport, N. J.
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,
Stock, $200,000; par $100.
Dividends: 20% annually in Dec. 1912 to 1919.
Incl.
Office. 80 South St.. N. Y.—(V. 109. p. 983.)
BRADEN
COPPER
MINES
CO.—Incorp. in Dela. in
1909.
Owns
entire stock and bonds of Braden Copper Co. (Maine corporation), which
and operates in Province of O'Higgins, Chile, extensive mining prop¬
owns
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
tee) owns 99% of the 2,590,706 shares authorised and outstanding (reduced
from 2,800.000 shares July 14 1916).
Bonds auth. and issued, $20,000,000
(incl. $5,000,000 sold In Dec. 1918); canceled by sinking fund to Dec. 1
1919. $3,523,000.
V. 102, p. 524, 713; V. 103, p. 63; V. 106, p. 609; V.
109, p. 580.
Reports of expert in V. 101, p. 197u.
See Kennecott Copper
Corp.
V. 102. p. 1713.
,
Purposes for Which the General Mortgage Bonds Are Issuable.
to reimburse the treasury for extensions,
Improvements, &c., made prior to Jan. 1 1919 (of this amount
$5,500,000 series A were sold in Feb. 1919 and $3,000,000
Issuable forthwith
series B in Feb. 1920
—
-------
Issuable for refunding underlying bonds and debentures----.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
when the net earnings are twice
$9,000,000
13,713,300
only
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 $.
REPORT.—For cal. year 1919 in V. 110, p. 557:
Gross
Total Net
Bond
Fixed, &c.,
'
,
f
Divid ds Balance,
Earnings.
Income.
Discount. Charges.
(8 %). „&urvlus.
1919
$10,709,234 $3,351,012 $45.457.$1,605,896 $1,381,6501318,007
1918
8,768.038
2,691.857
20,269
1,199,562
1,374,216 97.809
1917—— 8,304.412
2,869,072
20,269
1,469,952
1.334,716 44,136
1916
8,130,199
3.190.758
20.269
1,401.550
1.202.564 566.376
Chairman,N. F. Brady; Pres., M. S. Sloan; V.-P., J. O. Brady; V.-P. &
Gen. Mgr., W. F. Wells; Sec., E. A. Baily; Treas., H. P. Erwin.
Office,
360 Pearl St., Brooklyn, N. V.—(V. 109, p. 479, 1528, 1989; V. 110, p.
657, 873,972.)
Calendar
Year—
.
BROOKLYN UNION GAS CO.- -Incorp. in N. Y. State Sept. 7 1895,
41:
For
plan V. 61, p. 831, and V.02,p. 1141; V. 64, p. 887; V. 80, p. 1854.
properties owned and controlled, see V. 109, p. 2359.
Daily manufacturing
capacity Dec. 31 1918, 82,000,000 cu. ft.
V. 101, P. 1630.
V. 99,
p. 51, 345, 1369.
New gas standard, V. 100, 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.>
L
per
.
_
...
^XPI^L^sWCK^ThrP^S. Commissionrin Feb. 1920, granted the
jpermission to issue $2,000,000 stock for refunding purposes
LATE DIVS.—
'06. '07. '08. '09-T1.
1912 to 1917.
1918 to Oct 19
company
Percent-3
0
m 6 y'rly
The dividend due to be paid in Jan. 1920 was
-J)
6&2ext.yly^
passed.
V. 109, p. 2359^_
BONDS.—Mortgage of 1895 is for $15,000,000 of bonds, eubject to:
Bonds—
interest.
Outstanding.
Maturity.
Citizens' Gas con. mortgage
5% F. & A.z
*264.060 _^ Feb. 11940
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 $.
V. 109, p. 15^8,1082; V. 108, p.
_
REPORT.—For year ending Dec. 31 1919:
Cal. Years.
Cal. Years.
1919.
1918.
Cop.prod.(lbs)21,990,348 71,362,788
1919.
1918.
Total income-
$990,318 $7,784,163
26.888 cts. Bond, &c., int 1,573.171
816,475
Copper revs—$4,144,908$19,188,495 Deprec., &C— 1,007,640
3,270,807
Netprofit-—
$318,990 $7,557,921 Bal.,surp.def.$1,590,493 $3,696,881
—(V. 110, p. 564.)
Aver, per lb__18.849 cts.
BRAZOS OIL CORP.—V. 109. p. 273, 2265.
BRIGHTON MILLS, PASSAIC, N. J.—V. 109,
p.
1794.
BRILL (THE J. Q.) CO.—ORGANIZATION.—Incorporated in Pennsyl¬
vania Aug. 1 1906; organized Feb. 1907.
Manufactures cars and trucks,
principally electric, and in 1917 aeroplane motors for U. S. G«wt.
See
V. 108. p. 681; V. 106, p. 766; V. 85, p. 1400; V. 86, p. 1102
1391.
REPORT.
For year
19W shows:
^
m7.
wl6
-$13,386,123 $13,053,798 $12,243,762 $11,353,594
def.88,7ol
825,604
2,140,461
1.996,9/2
Other income
342,562
242,767
261,914
239,200
Bond interest, &c_----960,708
868,580
870,943
847,2<>6
Dividends
(4J^ %)810,00^ (6)1,08*1,000 (7)1,260,000 (8)1,440,000
Balance
def.l,516,847 def.880,209 sur.271,432
def.51,084
Pres., James
H. Jourdan; v.-Prests, Wm. G. Rockefeller and A. F.
Staniford; Treas., E. R. Chapman.
Office, 176 Remsen St., Brooklyn,
N. Y.—(V. 110, p. 80, 362, 467, 766, 873, 1292.)
Gross earnings
Net after taxes
-
Par
Amount
Bate
When
Value
Outstanding
%
Payable
Brown Shoe Co—Common stock $10,000,000
Pref stock (a <fc d) 7% cum red 120
auth
100
50
$10,000,000
Buffalo General Electric Co—Stk $10,000,000 V.102,p. 1028
First mortgage (trustee Fidelity Trust Co)
_z
Cataract Power & Conduit 1st M sink fund
Mp.xxc*
105. V.102,p.l628-Col.zc*
Debentures convert Into stock $ for $ call (V 105, p 718)
Buffalo fir Susquehanna Iron—See Rogers-Brown Co
Burns Bros—Common stock $10,000,000 (see text)
Preferred 7% cum $2,000,000-.
...........—
Bush Terminal Co—Common stock $7,000,000--.
...
Preferred (a & d) 0% 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*
Secured gold notes due $100,000 Q-M; call. 101._Col.xxc
Bush Term Bldgs Co M $12.000,OOOg gu s f.Coi. x, c*&r*
do 7% cum pf stk gu call 120—
Butte Copper & Zinc Co.—Stock auth $5,000,000
Butte Electric fit Power—See Montana Power Co,
Butte & Superior Mining Co,—Stock auth $3,600,000
Butterick Co—Stock $15,000,000 (bonds see text)
—.
First Ref M $10,000,000 call at
x
z
After payment of 33 1-3 % stock dividend; see text,
Additional $1,170,000 owned by Bush Term. Co. and
100
100 &C
1899
1897
1909
1.000
100
s
1839. 2004.
STOCK.—The pref. stock is redeemable at any time, all or part (pro
rata), and also upon dissolution at 120 and divs. on 3 mos.' notice.
N(
mortgage (other than purchase money) can be authorized
Increased or prior stock Issued by vote of less than 75% of
or pref. stock
each class, botfc
pref. and com.
Sinking fund out of surplus profits to retire at least 2*4 %
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
in default.
Pref. stock authorized $6,000,000; issued to
April 30 1920, $5,400,000;
retired by sinking fund and canceled, $500,000;
as of May 1 1919, $2,000,000; total outstanding,
balance, $3,500,000; sold
$5,500,000.
on common,
on pref. from Feb. 1913 to May 1920, 1*4% quar.
1% paid Feb., May and Aug. 1 1914; none to Dec. 1
1917 to Sept. 1919, 1 4% quar.; Dec.
1916, when 14% was paid; Mar.
V. 110, p. 2195, showed:
Stockholders of record June 19 1920
REPORT.—For year ended March 311920, in
1919 to June j.020, 1%% quar J
received a stock div. of 33 1-3%.
OPERATIONS.—For the 3
mos.
ended Sept. 30 1919 shipments aggre
gated $9,832,618, against $8,741,105 in 1918; increase shipments, $1,091,"
513, or nearly 12.5%.
For 6 mos. ended April 30 1919, shipments, $12,809,883; net profits after deproc., $1,150,854.
Estimated output year
ending Oct. 31 1919, $31,000,000.
Income
Net
earnings..
Depreciation
Repairs, patterns,
charges off
Net
profits.
exc.
$2,680,725
$1,838,385
$2,078,560
$1,467,7 57
$500,000
244,470
360,000
$410,000
248,955
$264,250
$733,915
$1,059,605
profits tax.(est.)_a$l ,250,000
(7%)...
281,376
(6%)___
360,000
Preferred divs.
Common divs.
A Aug
1 1922
BankersTrCo, NY fie Buf
J Jan 15 '20
J Jan 15'20
&
&
&
O Apr
J Jan
&
3%
1 1952
1 1955
A
3 z
Office. 100 Broad St, N Y
1 1O0»»
Apr 1919.14
July 1918, 50c
Q-J2
Q—M
New York
Sept 29 *17 12 4
Sept 1'16 H% Checks mailed
BUSH
New York
TERMINAL CO.—ORGANIZATION,
on Feb. 10 1902 (V. 74, p. 477).
Owns
Brooklyn.
$789,349
*
360,000
0. 1956: V. 82. p. 1039; V. 88. p. 163; V. 106. p. 399.
Also controls Bush
Terminal Buildings Co., owning $1,000,000 common stock ($2,000,000
auth.), pledged in Nov. 1916 under Consol Mtge.
As to International
Sales Building on 42d St.. Manhattan, and leases to tenants (231 in April
1919). see V. 108, p. 2239.
The U. S. Government on Dec. 31 1917 "commandeered 8 piers and 118
warehouses, the property of this company, for the purpose of main taming
a military base during the period of the war."
Commandeered property
expected to be returned during 1919.
V. 108, p. 2239, 173; V. 107, p. 1103;
V. 106, p. 1897, 2750; V. 105, p. 289.
CO.—(V.
110,
362,
p.
1750,
BUCKEYE PIPE LINE CO.—ORGANIZATION, ficc.—Incorporated in
1886.
Owns pipe lines in Ohio.
Formerly controlled by
Standard Oil Co. of N. J., but segregated in 1911.
See Standard Oil Co
Stock, $10,000,000; par, $50.
REPORT—For cal. year 1919, in V. 110, p. 661,
1919.
1918.
showed:
1917.
1916.
$1,664,783
$1,715,361
$2,380,083
$2,082,068
(16%) 1,600,000(18) 1800,000(19) 1900,000(16) 1,600,000
Calendar Years.
Net profits
Dividends
Bal.,
sur.
or
def__
sur.$64,783 def.$84,639sur.$480,083sur.$482,068
DIVIDENDS.—
('12. '13. '14. '15. *16. '17. *18.
Regular
%\ 40
%[
Extra
28
16
16
1920.
1919.
16
16
2
4,4,—,—
16
3
40
__
_.
-
Pres., D. S. Bushnell; V.-P., O. S. June; Sec., George Chesebro; Treas.,
Llv}£8ston
N. Y. office, 18 Broadway.—(V. 104, 562, 2120;
V. 106, p. 399, 609, 1228; V. 108, p. 685.)
BONDS.—-Of the consol. 5s, sufficient are reserved to retire the 1st 4s
See listing application, V. 88, p. 163; V. 79, p. 1956: V. 80, p. 990.
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, loft and other buildings
in N. Y. City and Brooklyn.
V. 89, p. 848; V. 92. p. 747, 1334, 1111;
V. 97, p. 1901; V. 100, p. 1675; V. 101. p. 1809; V. 102, p. 1344. See above.
The $1,200,000 6% gold notes of 1918 due $100,000 Q.-M. (but callable
101) were secured by $1,600,000 Bush Term, bldgs. Co. 1st 6s
and $1,100,000 other collateral representing cost of new building
at
St., Manhattan; $100,000 due each 3 months beginning Mar.
All outstanding notes were called for payment at 101 and int. Dec.
V. 106, p. 399; V. 109, p. 2174.
\
0
0 >
In stock I
0
0
'15.
4 yrly.
4
2
__
__
2631.
REPORT.—Year 1918, V. 108, p.
1918.
2239:
$2,131,571
Total net income
$1,872,569
Interest
491,853
Taxes
359,773
Preferred divs. (6%)—
138,000
earnings
$2,157,210
-$1,738,770
451,858
302,465
138,000
(cash)._(5%)285,959(5%)272,303
(stock)-<5%)286,388(5%)272,588
$1,955,237
$1,684,802
453,097
292,081
138,000
Balance, surplus
$330,595
$301,556
$282,868
Pres., Irving T. Bush; R. G. Simonds, Treas.; Sec., H. F.
Office, 100 Broad St., N. Y.—(V. 110, p. 1645, 1976.)
with William Farreli & Sons, Inc.
DIVIDENDS—
On common
%
1913.
1914.
14
5
1915.
5
1916.
5
stock
do
m
do
Liberty
1917.
54
26
Loan__
V. 110,
1918.
9
34
p.
1853.
1919.
10
10
COPPER & ZINC CO.—Organized under laws of Maine,
Is engaged in developing, mining and operating mines and
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.
BUTTE
outstanding, $3,000,000.
1920.
CAPITAL STOCK.—Auth., $5,000,000;
value,
Voting trust expired Feb.
$5.
1
DIVIDENDS.—A dividend of 50 cents per share was
none
See
text
5
From Feb.
1919 to Nov. 1919, each quarter, 24% in cash and 24%
stock, increasing outstanding common stock to $8,094,400.
V. 105,
1805, 2186; V. 106, p. 1580; V. 107, p. 1581; V. 108, p. 1513; V. 109, p.
580.
In Feb. and May 1920, 24% in cash.
extra in
p.
EARNINGS.—For 2
of coal
mos. ended May 31 1919 (V. 109, p. 580):
(478,712 tons), $3,847,410; net profits, $185,154.
Net sales
since.
BUTTE
&
SUPERIOR
CO.—ORGANIZATION.—iDCor-
MINING
Scrated in Arizona Oct. 2 1906. Owns other claims havingSilver Bow
Mont, (area 164.7 acres), interests in mining claims in
an area of
o.,
58.3
acres
Ac., V.
and surface rights, &c.
100.
p.
Application to list describing properties,
p. 1635.
Output chiefly zinc spelter.
100. 1602: V. 102.
REPORT.—For year ended March 311920, in V. 110,p. 2195, showed:
1919-20.
1918-19.
1917-18.
1916-17.
sales...
$24,053,980 $21,286,870 $20,984,483 $15,235,910
Gross profit
1,903,971
2,280,081
2,610,674
3,565,080
General exp. and taxes.
1,209,272
1,386,013
1,431,545
2,643,705
Other income.
Cr.332,356
Cr.242,374
Cr.270,704
Cr.368,410
Pref. dividends (7%)...
101,976
106,435
114,319
118,993
Common divs. (cash).(10%)779,070 (10)719,407
(6)418,394
(5)275,000
Balance, surplus-$146,009
$310,600
$917,120
Profit and loss surplus._a$l,757,759 a$2,193,819 all,951,334
a
After deducting common dividends
Pres.,
$895,792
$1,470,735
paid in stock and other charges.
New-
Michael F. Burns.
Office, 50 Church St., N. Y. City.
directors 1919, V. 108, p. 2244.—(V. 110, p. 263, 1851, 2195.)
P.
B,VBvNS BROS. ICE CORP.—See National Coal & Ice Co. in V. 108.
1169.
1120. 2231. 2446
109, p. 373, 1082.
890.
issued
$150,000
10-year 1st M. con¬
$500,000 authorized
vertible bonds dated June 1 1915 (Incomes for 5 years),
V. 100, p. 644, 1754.
STOCK.—Of
the
Present name assumed in 1916, V. 102, p.
$3,500,000
1915.
1916.
1635.
auth. stock. $2,901,845 is outstanding.
1917—March.
June.
Sept.
Dec.
%
30
40
12H
12H
54 See
%
150
300
124
124
54 text.
paid quarterly 124% and a further 124% out of capital
accumulations prior to March 1913; but in Sept. only 64 and 54% from
such accumulations; likewise in June declared an extra dividend of 4%
to aid in Red Cross distributions. V. 105, p. 1000.
In Dec. 1917 suspended
dividends pending determination of oil flotation suit.
V. 105. p. 2096.
Regular
Extra
In June 1917
1920—April—1919.
6,300,000
8,250,000
113,000
150,000
Production—
Zinc
(lbs.)
Silver (ozs.)
March 31 Years—
Net
Par
paid in July 1918;
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 & Zinc Co. and
50% to the Anaconda Copper Mining Co.
OFFICERS.—Albert
J.
Seligman,
Pres.;
J. Oppenheim, V.-Pres.;
A. I. Bailey, Sec. & Treas.
LATE DIVS.—
1920-
$319,411
Hi Reid;
Nov. 22 1904.
mineral lands,
BUFFALO GENERAL ELECTRIC CO.—V. 110, p. 661,
merger
$1,632,107
$1,544,135
454,437
257.287
138,000
(5)259.302
(5)250,000
(5)259,453(2^)125.000
Ore body settlement, V. 109, p.
The Butte-N. Y. Copper Co.
1750.
1915.
1916.
1917.
Calendar Years—
BUDD (EDW. G.) MFG. CO.—V. 109, p. 2173.
BURNS 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 .
of 1910
on 42d
15 1918.
15 1919.
'16. '17 to Jan'20.
5
5
(2MJ&J)
24
5
(2H J& J)
The special dividends of 24% in common stock paid semi-annually on
the common shares from Jan. 1916 to Jan. 1920, incl.. were distributed on
account of increase in value of property.
V. 104, p. 259; V. 108, p. 1'3,
f'06. *07. '08. *09. '10. '11. '12-T4.
DIVIDS.
Common
Flotation separation, V. 105, p. 1211, 1422; V. 106. p.
2759; V. 107, p. 289, 606, 1103; V. 108, p. 588, 2530; V.
Proposed
,
PREFERRED STOCK.—In addition to the Initial $5,000,000 pref. stock
(callable at 110 & divs.), may Issue: (a) from time to time not exceeding
$5,000,000 additional pref. stock on consent of a majority of the directors
*nd a majority in interest of all the stock outstanding: and (&) a further
$5,000,000 pref. stock on consent of a majority of the directors and a; ma*
iority In Interest of common and of Dref. stock outstanding.
V. 92. p. 1034.
Oommondivs.
Ohio Mar. 31
of N. J.. V. 85. p. 216, 790; V. 93. p. 1300.
jo
^
$1,203,507
a Includes State taxes in
1918-19;
Chairman, Geo. Warren Brown; 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. Krall.—(V. 109, p. 175,1463,1794, 2169, 2,442;
V. 110, p. 1976, 2195.)
BRUNSWICK-BALKE COLLENDER
1851.)
-
&C.—Incorporated in
extensive terminals on
V. 76, p. 974,1032: V. 19,
Common divs.
Balance, surplus
New York
New York
text
O Apr
&
the water-front, 40th to 51st streets,
Gross
Federal Income, war and
&
Q—F 31 May 15 '20 2 ^
May 1 *20
14
Q—F
2,901,845 See text
14,642,100 2H m'16
Do
for Years ending Oct. 31.
1918-19.
1917-18.
1916-17.
1915-16.
$31,690,814 $30,825,715 $21,882,016 $15,913,373
$3,386,685
$2,228,860
$2,414,088
$1,719,762
496,638
255,664
229,680
172,334
&c.,
209,322
134,812
105,848
79,671
sales.
Net
Account
F
of 1902.
DIVIDENDS.—Div.
Dividends
Columbia Trust Co. N Y
collat.
plants, 5 In St. Louis and one each In Moberly, Mo., Brookfield, Murpbysboro, Dixon and Charleston, 111.
Aggregate net floor space, over 15 acres.
In 1912 sold of own manufacture and outside goods about 7,000,000 pairs
of shoes.
In Feb. 1913 acquired Barton Bros, of Kansas City, Y. 96, p. 556.
No mortgage or funded debt Oct. 1919, $20,000 real estate mtge. redeemed
Feb. 15 1919.
V. 96, p. 204.
War orders in 1918, V. 106, p. 193, 1903;
V. 107, p.
Fidelity Trust Co, Buff
Metropolitan Tr Co, N Y
1 1939
See text
10
N.Y.Jan. 1913
10 large modert
BROWN SHOE CO.—ORG ANIZATION.—Incorp. In
Shoe Co. of Missouri. Operates
and acquired the Brown
1 1927
J Apr
2,500,000
3,000,000
100
a
1 1939
J Jan
<&
F
z7,813,000
100
5
pie dged
A Feb
&
J
6,244,400 See text J
2,300,000 6 in 1919 J
A
2,952.000
t K
J
5 g
6.629.000
100
100
1,000
1.000
1,000
1,000 he
1910
&
J
8,094,400 See text
1,437,800 7 In 1919
100
1905
1917
Payable
are
19
5g
6g
2,039,800
100 &c
1902
Dividends
Maturity
5 g
2,375,000
116,600
7,029,000
1,000
1917
and
Checks mailed
See text
Q—M
May 1 '20. \*A% Checks mailed
5.400,000 7 In 1919
Q—F
June 15 *20 4% New York
Q—M
10,000.000 I6inl919
Buffalo
7,905,900 8 In 1919 Q—M 30 Mar 31 *20 2%
$100 x$8.400,000 54%
Buckeye Pipe Line Co—Stock
Places Where Interest and
Last Dividend
Date
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on first page]
[VOL. 109.
BONDS
INDUSTRIAL STOCKS AND
156
1920—1 Mos.—1919.1
41,450,000 29,125,000
748,000
541,000
REPORT.—Year 1919, in V. 110, p. 1750, showed:
1919.
1918.
1917.
Calendar Years—
Total
$4,861,170
916,273
Other income.
126,266
Res. for tax, conting.,&c..
177,549
Balance, surplus.
864,990
revenue
Netrevenue
— .
$5,915,244
651,924
62,874
86,450
628,348
1916.
$6,716,437 $13,141,551
2,347,4968,792,131
103,191
81,315
2,177,777
2,508,047
272,910
6,365,399
OFFICERS.—President & Gen. Mgr., D. C. Jackling; V.-Pres., Chas.
Hayden; V.-P. & Gen. Counsel, K. R. Babbitt: Sec., A. J. Ronaghan;
Treas., C. W. Peters.—(V. 110, p. 170,661,766, 1091, 1529, 1750,2078.)
BUTLER BROTHERS, CHICAGO.—(V. 109,
467, 651, 1645.) '
p.
1611; V*110,?p.:362,
BUTTERICK CO.—ORGANIZATION.—Incorporated In N Y .on Jan.
Owns stocks of various cos. publishing magazines, manufacturing
15 1902.
paper
orized
patterns. &c.
to
See V. 75, p. 237.
Stock was on Oct. 19 1909 auth¬
from $12,0001000 to $15,000,000, to acquire the
be Increased
Date
Par
page]
Value
Caddo Centra! Oil & Refining—Stock 200,000
Consol 1st M $5,378,000 gold sinking fund
Caddo Oil & Ref Co 1st M (closed mtge) s f call
Outstanding
1917
1920
105—-CP
due $120,000 s a, call 101
CP
California Packing Corp—Conn 500,000 shares (no par)_—
Pref stock 7 % cum conv called for payment Apr 1 1920
com,
100
&
auth
14,877,005
10
10
50
50
nance
I
the
4
4
dividend
*06.
4
'09.
'10-'15.
IH
2X
None since to
REPORT.—For 1919, in V. 110, p. 1851, shows:
Calendar Years—
\
1919.
1918.
Net prof, aft. Fed. taxes.
Preferred dividend
$326,494
1917.
$261,014
$441,896
2M
May
1920.
1916.
$410,306
6,107
—— — ——
—
-
————————
Q—J
$261,014
$441,896
$410,306
_x$l,964,182
$2,340,833
$1,898,937
$1,637,924
x After deducting sundry adjustments.
.
Pres., G. W. Wilder; Treas., C. D. Wilder, Butterick BIdg., N. Y. City.
—(V. 109, p. 1369; V. 110, p. 1645, 1851.)
owned 85 producing wells with 6 drilling rigs in operation, 135
miles of pipe lines and gathering lines, with pumping stations
Its Caddo refinery, with a daily capacity of 3,000 bbls., and
attached.
the Shreve-
port refinery, with a daily capacity of 500 bbls. (in which latter the company
owns a three-fourths interest) and its casing-head gasoline plant at Moorings-
port, La., were all operating substantially at capacity.
Its holdings in the oil fields comprise: (a) 31,000 acres in fee in Bossier
Parish, La.; (5) 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.
At Cedar Grove, La., a new refinery with a capacity of 3,500 bbls. per
day, was approximately 55% complete and
should be m operation by Aug. 1 1920.
paid for to a like extent, and
EARNINGS.—For 9 months ending Dec. 31
1919, in V. 110, p. 1640,
profits, $747,559; net profits, $647,229; deductions, $163,892;
$483,337.
&c., see V. 108, p. 1938.
The 6% equipment trusts issued in
1920 are guaranteed, prin. & int., by the company and the Standard Tank
Car Co.
They mature $120,000 semi-annually each Feb. and Aug. 10
from Aug. 10 1920.
V. 110, p. 766.
Capital Stock.—On May 3 1920 stockholders authorized (1) change of
stock 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. Qualey;
Sec. & Treas., E. K. Henderson.
Office, Shreveport, La., and 17 Battery
Place, New York.—(V. 110, p. 766, 1292, 1523, 1640. 1645, 1851, 1976.)
showed: Gross
balance,
Bonds,
CALIFORNIA PACKING CORPORATION (OF
N. Y.)ORGANI¬
acquire (V. 103, p.
ZATION.—In Oct. 1916 incorporated in Now York to
1212), free of mortgage or other funded debt, the business, assets and prop¬
erties of J. K. Armsby Co.; California Fruit Canners' Association; Central
California Canneries; Griffin & Skelley Co.; and about 80% of the cap¬
ital stock of the Alaska Packers* Assn.
The largest packer and dis¬
tributor 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.
William Salomon & Co., N. Y..
sold the pref. stock. V. 103, p. 1982, 2157.
Hawaiian property. V. 104.
V. 105, p. 1203.
&2454. Official statementpayable Feb. 1917 to N. Y. Stock Exchange
of May 10 28 1919, $1,905,000
Notes
STOCK.—The pref. stock
(convertible at option of holder into common
I H shares of common for 1 share of
time prior to Jan. 1 1932
June 11920
Southern Tr Co, Lo« Ang
Feb 1930
See text.
do
Apr 1
1920 2% Checks mailed
June 15 *20 2%
do
1919 paid 1 % regular and 2on
In Oct.
accumulations, which, it is understood,
all accumulations on the pref.
Paid 1 % % each in Jan. and April
V. 109, p. 1082; V. 108, p. 2435.
clears up
1920.
REPORT.—Year 1919, V. 110, p. 1292.
Calendar Years—
1919.
1918.
Gross earnings
Net earnings.
Depreciation, &c
Interest on bonds, &c
Reserve for Federal taxes
and contingencies
1917.
15 1918 to Dec. 15 1919, $1 quar.; Mar. 15 and
June
ALASKA PACKERS ASSOCIATION (Controlled) paid special dividends
(payable in Liberty bonds) as follows: Feb. 9 1918,20%; Feb. 10 1919, 25%:
Feb. 10 1920, 20%.
Extra dividends of $2 each were paid from income of
insurance and investments Feb. 10 1917, Feb. 9 1918 and Feb. 10 1920.
REPORT.—For year ending Feb. 28 1920, V. 110, p. 1971.
Consol. Results —Years ending Feb. 28.
1919-20.
1918-19.
1917-18.
y
"Income from
dividends
$2,396,000
—$5,882,541
1,359,861
investments"
Total income
Preferred dividends (7%)
Common
-
■>
1,293,279
$3,614,531
2,533,409
$3,689,279 $6,147,940
570,898
592,268
$4)1,603,250($4)1,355,668 ($2)677,802
—
$7,242,402
468,020
Surplus
— _y$5,171,131.v$l,762,713
y$4,877,869
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.
Board; J. K. Armsby,
L. Goldstein, Treas.; L. A. Woolams, Compt.
873. 1190.)
CALIFORNIA PETROLEUM CORPORATION—ORGANIZATION .
—A holding company incorporated in Virginia Sept. 27 1912. Owns 99% of
stock of American
Petroleum Co. (V. 92, p. 1111: V. 91. p. 216); which
owns or controls 2,000 acres of land in the Coalinga, Lost Hills and Los An¬
geles
districts;
and
98%
of American Oil Fields Oo.,V. 92, p. 957),
which
claims 4,200 acres In the Midway, Sunset, McKittrick and Lost
Hills oil districts of Southern California, and all the stock of Petroleum
Midway Co., Ltd., which owns 420 acres in M id way oil field.
In M ar. 1919
was authorized to purchase at par a further $4,000,000 of last named com¬
pany's stock.
V. 108, p. 1062.
Other sixbsidiary companies are the Niles
Lease Co., Midland Oilfields Co., Ltd., and Midland Oil Co.
Also owns a
half-interest in the Red Star Petroleum Co.
On Dec. 31 1919 there was in
hands of public $512,407 stock and also $1,495,300 bonds (see table above)
of the subsidiary companies remainder owned by California Petroleum Cor¬
OFFICERS.—M. J. Fontana, Chairman of the
Pres.; Albert Lester. Sec.; S.
—(Y. 110, p. 263, 362, 468,
poration.
DIVIDENDS.—Divs. on common, Jan. 1, Apr. 1 and July 11913,1 H%
V. 97, p. 239. 668. On pref. in 1913 and 1914, 7%; 1915.
.51916, 4% (1% Q.-J.); 1917, 4%; 1918. Jan. and April, 1%; July
and Oct., 1^%; Jan., and again in April, 1919,1^% and 2% on accumu¬
each; none since.
1916.
$4,621,654
$3,128,711
1,340,505
104,582
$4,154,354
$3,056,883
1.160,773
120,725
$3,185,327
$2,462,278
675,877
102,219
$2,081,154
$1,511,658
381,778
li0.480
250,000
296,261
217,808
(4)493,721
(4)493,721
189,876
207,450
dividends...*(7%)846,512 (8^)1018300
Special reserve net prod._
155,980
157,542
$431,132
$303,282
$784,775
$318,229
*
Also paid $864,012 on account of accumulations.
The net production
1919 was 3,115,476 bbls., a decrease of 35,358 bbls. from 1918.
Balance, surplus—
in
L. P. St. Clair, R. W.
Pres., I. W. Fuqua; Vice-Presidents,
Crawford and Norman Bridge; Sec. & Treas., W. D.
Office, 1034 Security BIdg., Los Angeles,
679, 983, 1082, 1989; V. 110, p. 1412.)
Stewart.
Calif.—(V. 109, p.
ZINC-LEAD CO.—Formerly Consolidated Interstate
Callahan Mining Co.
Name changed to present title on Apr. 12 1920$.
CALLAHAN
ORGANIZATION.—Organized in Arizona June 12 1912, and is engaged
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 30 1917, In all $13 50 per share, or $6,277,365 in divs.; Sept.
1917 none, pending certain improvements, &c.; Jan. 2 1918, 50 cents (5).
June 15,50 cents (5%) quarterly.
In Oct. 1918 paid 75 cents (7H %) 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.
Status in Jan. 1920. V. 110, p. 363.
In Oct. 1918 the 10-year contract of 1914 with the American Metal Co.
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
stock.
In Mar. 1919 shut down because of unprofitable prices following
war.
V. 108, p. 1277, 2531.
For year ended Dec. 31 1918 total income was $1,228,616; balance, after
operating costs and impts., $260,289; current surplus as of Dec. 31 1918,
$254,553. V. 106, p. 2760.
Pres., John A. Percival.
N. Y. office, 61
Broadway.—(V. 110, p. 1190, 1529, 1645, 1976.)
in mining
CALUMET & ARIZONA MINING CO.—ORGANIZATION.—Incorp.
mining properties in Bisbee, Ariz., (Mammoth
Group), and Douglas, Ariz.
On Dec. 31 1919 owned also 1,229,741 of the
1,800,000 outstanding shares of $5 each of the New Cornelia Copper Co.;
initial dividend thereon 25 cts. a share (5%) was paid Nov. 25 1918; none
thereafter until May 1920, when 25 cents a share again was paid.
See
V. 108, p. 168; V. 107, p. 289, 1842.
in Arizona in 1901 and owns
'08-'ll. '12. '13. '14. '15. '16. '17. '18. 1919. 1920.
50
30 32)4 90 110 80
30 text
$1.
DIVIDENDS.—
Per
40 yrly. 42)4
cent
In
1920; March 22, $1; June
REPORT.—For calendar year
1919.
Gross income
Rate
51,357,154
62,397,017
1916.
74,898,788
$10,286,477 $15,528,530 $20,035,866 $20,587,941
524,416
4,083.238
6,628,500 11,155,005
1,927,563
5.140,062 x6,424,762
5,777,296
(30%)
(80%)
(100%)
(90%)
10% dividend ($642,479) out of reserves for depreciation
dividends
Dividends paid
Net for
x
1919, V. 110, p. 1418, shows:
1918.
1917.
I—
Copper (lbs.)
—
^
Also paid a
and depletion.
v
Month of April
Profit (after all taxes)
do
June20 *20 10 %
Dec 31 '19 20%
1920.
each ($2 p. a.); June
15 1920, $1 50.
Jan.1'20
run
Junel5 '20 $1.50 Checks mailed
Jan 2 1920
do
1%
July 1 13 1H% Columbia Trust Co, N Y
do
do
Apr 1 '20 1 H%
Chairman, Thomas A. O'Donnelt;
CADDO CENTRAL OIL & REFINING CORPORATION—ORGAN¬
IZATION—Incorp. in N. Y. State May 2 1919.
On Dec. 31 1919 the
stock at any
Int.begins to
Philadelphia
1 1927
See text
July 1919 paid 1% regular and 2>6 on accumulations.
lations.
Profit and loss
company
1 1930
Jan
Preferred
$320,387
Balance, surplus
1916.
3 yly.
3
omitted.
was
'08.
'07.
4
'05.
—
Jan
Co
,
f '03. *04.
Dividends are Payable
--------
25
$1,000,000 Ridgway Co., June 30 1919.
V. 104, p. 1147. The outstanding
obligations include: real estate mortgage, $700,000; Federal Pub. Co.
collateral 6s, due 1920, payable 10% yearly, $109,000 ($1,091,000 retired);
Butterick Pub. Co. 8% cumulative preferred stock, $808,200; Butterick
Co. notes, $239,000
,t
DIVIDENDS—
Places Where Interest and
Maturity
J
&
D
6 g
571,500
6 g
F
&
A
923,800
$2
3,733.030
Q—M 30
Q—M 24
6,425,210
Q—M
2,500.000 See text
&
O
8,468.000 4 in 1919 A
Q—M
45,000.000 9 in 1919
1910
Calumet & Arizona Mining Co—Stock $6,500,000——».
Calumet & Hecla Mining—Stock ($12 per share paid)
Cambria Iron—Stock (4% guaranteed)
Cambria Steel—Stock $50,000,000
Bonds of subsidiary companies—See Mid vale Steel & Ord
Dividend
and
11.343,026 See text
1908
x
x
Last
New
New
100
J
$17,500,000 auth
Pref(aAd) stock, 7% oum&part red text $17,500,000
Bonds
of controlled companies—
Amer Petroleum Co 1st M g red 106 beg '14 sink fd
Amer Oilfields Co 1st M g red 105 beg '16 sink fd
Callahan Zinc Lead Co—Stock
%
J
&
6
J
$4,378,000
J
&
J
6 g
2,019,000
F
&
A
6
720,000
$1,000
Q—M
462,010shrs $4 in '19
See text 7 in 1919
"""160
Q—J
1919
-G
Guar equip trusts
California Petroleum Corp—Stock,
See text
None
shares
When
Payable
Bate
Amount
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on first
Since 1902. %
In Dec
1916
157
INDUSTRIAL STOCKS AND BONDS
Mat, 1920.]
3.150,000
Month of April
1920.
Copper Co.—
Production (lbs.)
Pres., Charles Briggs,
1645, 1976.)
CALUMET
1919.
3,176,000
Production (lbs.)
New Cornelia
1919.
Four Months
1920.
1919.
13,978,000
14.198,000,
Four Months
1920.
& HECLA
MINING.—Stock, $2,500,000; $12 per $25 share
V. 93. p. 941.
V. 98, p. 239.
Decision 1915, V. 100, p.
1916-17 the company redeemed, at par and int.. the remainder
paid in.
In
1919.
3,560,000
2,674,000 13,948,000 12.298,000
Calumet, Mich.—(V. 110, p. 1091, 1418, 1641,
232.
of the
1909.
Status Jan. 1919, V. 108, p. 383.
In 1917 purchased Tamarack Mining Co. for $3,600,000.
V. 104, p.1047
LATE DIVS.—f *08. '09. *10. *11. *12. *13. '14. '15. *16.'17.
'18. 1919
P. C. since 1906—/ 80
108 116 96
168 128 40
200 300 340 text 40%
In March and June 1919 dividend was omitted owing to unsettled condition
of copper market.
In Sept. and Dec. paid 20% ($5). V. 108, p. 1062, 2435;
V. 109, p. 778.
March 1920 dividend omitted.
V. 110, p. 1091.
Output (in Pounds)—
Cal. & Hecla.
Subsidiaries.
Total.
8,519.000 notes issued in
5,320,063
April 1920
4,212,41.3
9,532,476
4,361,645
4,192,488
8,554.133
20,916,919 16,746,657 37,663,576
—
20,037,978 20,108,476 40,146,454
REPORT.—For cal. year 1919 in V. 110, p. 1852, showed ^Receipts for
copper delivered] (27,978.077 lbs.), $5,263,077, and after adding
'other
income" (dividend of $1,229,303 on stocks owned, &c.), and deducting all
expenses, dividends paid (40%). $1,000,000, there was a deficit for the year
of $2,366,620.
Pres., R. L. Aga&siz.—(V. 110, p. 1190, 1750, 1852, 2195.)
CAMBRIA STEEL CO.—Incorporated in Pennsylvania in Nov. 1898, per
pian V. 67 p, 688, leasing Cambrk Iron Co. for 999 years at 4% on $8,468,000 stock
68, p. 128; V. 75, p. 443; V. 76, p. 862; V. 78, p. 1166.
In 198.6 Midvale Steel & Ordnance Co. bought 97% of the stock at $81
a share
V. 102, p. 616; V. 101, p. 1554, 1630, 1715. 1809, 1976.
DIVIDENDS.— f'02 to '09. TO.'11 to' 13. *14. '15. '16. *17. '18. '19.'20.
Per
cent
{3 yearly 6^5yearly.
5
5 6)4 6
6
6 text.
Extra
I
—
1
2)4 6
6
3
In 1920: March 15 and June 15, 1 H% and )4% extra.
REPORT.—For 1919, V. 110, p. 2195, showing net Income (after deduct¬
ing oper. expenses, incl. ordinary repairs and maint. and provision for
Federal taxes), $6,869,802; deprec. and other reserves, $2,355,418; Cambria
Iron Co. lease, $338,720; divs. (9%), $4,050,000, and bal., sur.. $125 664.
Chairman, A. C. Dinkey. N. Y.; Pres., A. A. Corey Jr., Phila., Pa.; Sec.
& Treas., D. Brewer Gehly.
Officer, Widener BIdg., Phila.—(V. 110, p.
April
1919~
1920
4 months 1919
4 months
1091,2195.)
-
-
INDUSTRIAL STOCKS AND BONDS
15M
MISCELLANEOUS COMPANIES
Date
Par
Amount
[For abbreviations, &c., see notes on first page)
Bonds
Value
Outstanding
[VOL. 110.
Last Dividend
When
Rate
and
Payable
%
Places Where Interest and
Dividends are Payable
Maturity
'
I"
(J I) Case Plow Works—Common stock 125,000 shares
1st pref (a & d) 7% cum $5,000,000 call 110—
2d pref (a & d) 7% (n-c) & partte $5,000,000 call (text)
(J 1) Case Threshing Macb Co—Com stock $20,000,000-.—
Pref stock la & d) 7% cum $20.000,000—
Celluloid Co—Stock $6,000,000 authorized
Cent Dist Tel Co. Pitts—1st M $25,000,000 red text.FPixc*
Central Leather Co—Common stock $40 000,000-.
Eq
Preferred (a & d) 7% cumulative $40,000,000
Ea
First Men gold bonds $45,000,000.
x
Central States Electric Corporation—Com stock $10,000,000
None
$100
100
100
1913
100
100
500 &c
100,
lod
—
—.......
Pref 8took 7% cumulative $30,000,000
Secured conv gold notes red 101 s f, conv pref stock —Qc*
Cerro de Pasco Copper Corp—Stock (no face value)
Certain-teed Products Corp—Com shares 100,000 (auth)..
1905
1912
500
100
After deducting $516,500 In treasury Dec. 31 1919 and
$7,269 ,000 held in stumpag
264, 664, 973.)
CARBON STEEL CO.—(V. 108, p. 1719, 2530; V. 109, p. 1369, 1701,
2438; V. 110, p. 170, 1418.)
(J.
I.)
CASE PLOW WORKS CO.—ORGANIZATION.—Incorp. in
Delaware June 29 1919 to acquire the property, business &c. of J. I. Case
Plow Works and Wallis Tractor Co. of Racine, Wis.
Manufactures plows,
tillage implements and tractors.
V. 109, p. 1276, 1528.
STOCK.—The 1st
Pref.
is cumulative.
Redeemable at
110/
Annua
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 day's
notice when 1st Pref. is all retired.
Shares equally in any divs. declared
upon
the Common stock without reservation as to amount of such Common
No mortgage without consent of 75% of 1st Pref. stock.—See offer¬
ings in V. 109, p. 1276, 1528.
div.
DIVIDENDS.—Divs. of 1%% qi
juair were
Jan. 2 1920 and again on March 31
EARNINGS.—The annual
paid on 1st and 2d pref.
on
^DIRECTORS.—HT
C1"Weylanud^(V"p"j't""RTcr
Hendrickson (V.-P.), W. M. La Venture (Treas.), M. E. Erskine (Sec.),
H. M. Wallis Jr., Racine, Wis.; W. C. Quarles, Milwaukee, Wis.; Henry
Russell Piatt, C. F, Glore, Wm. A. Tilden, B. F. Troxell (Asst. to Pres.),
p.
170.)
(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 Racine, Wis., on navigable waters, covering over 40
aores of floor space.
Manufactures threshing machines, clover hullers,
steam traction and farm engines, steam-road rollers,! oil tractors, both for
gasoline and kerosene, automobiles, &c.
Owns 100 acres additional at
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.
STOCK.—The
voting trust
as
extended expired
by limitation Jan. 1
191?248Vi589(j P' 1676' 19131 V'105, P' 2545, Pref' rights' &c" V* 106'
P
Divs.
onJpref.,
2555; V. 106,
V.*11 07p^1313:
1916?
1917.
See text
Feb
Q—F
Q—J
Checks mailed
Office, 36 Wash PI, N Y
New York and Pittsburg
Checks mailed
Checks mailed
Central Union Tr Co. N Y
1915
H%
7 in 1919
Apr 1 '201%% Checks maifed
J
&
D June 11922
5 g
Guaranty Tr Co, N Y
June 1 1920 $1 Columbia Trust Co, N Y
$4
1919
Q—M
Jan 28 *18 $4
Q——J
Apr 1 1920 1%
7
Q—J
Apr 1 1920 1%
e
and spe cial
depr eciation
fund.
p.
921.
V. 81, p. 504; V. 82, p. 159.
Prices, V. 107, p. 1749.
399.
p.
Orders
76,^1196; V. 78, p. 50; V. 81, p. 1176; V. 96, p. 648; V. 98, p. 75; V. 104,
DIVIDENDS—
1914.
1915.
2
7
do
extra
1916.
3
1917.
5
5
4
Common
4
2
.
1918.
1919.
5
2
1920.
See
text
1
In 1920:
Feb. 2, 1 %% quar. and 2% extra; May 1, 1%%.
Preferred dividends regularly 1%% quarterly Oct. 1905 to Apr.
1920.
REPORT.—For year 1919 (V. 110, p. 868) showed volume of business
$118,959,634, against $94,147,418 in 1918 and $91,731,548 in 1917.
Cal.
Total
Gross
Bond
Pref.Divs.
Common
Balance.
Year♦
Earnings.
Income.
Interest.
(7%p.a.) Dividends.
Surplus.
$
$
$
' $
$
$
*
1920 (3
mos.) 2,898,525 *1,669,770
1919.-22,104,591*16,126,689
1918—12,922,437 *8,314,642
1917—21,066,061*16,243,062
1916-21,788,679 17,327,409
*
After deducting provision
459,552
582,732 (1^)496,261
131,225
1,838,208 2,330,930 (9)3,573,081
8,384,470
1,838.208 2,330,930 (7)2,779,063
1,366,441
1,838,208 2,330,930 (9)3,573,081
8,500,844
1,838,208 2,330,930(8^)3275326
9,882,945
for Federal income and excess profits taxes.
,
DIRECTORS.—Chairman Edward C. Hoyt, A. Augustus Healy, Geo.
D. Hallock, Max J. H. Rossbach, W. W. Heroy, Walter S. Hoyt, Warren
G. Horton, Lewis H. Lapham. Ernest Griess, Arthur W. Wellington, Geo.
W. Childs, Wm. McAdoo Jr., Edward C
H. Piatt.
Thiers, Chas. Einsiedler, Frank
Officers.^-Pres., Walter S. Hoyt; 1st V.-P., Geo. W. Childs; 2d V.-P.,
W. G. Horton; 3d V.-P., Wm. McAdoo Jr.; Sec., Fred E. Knapp: Treas.,
H. W. Hill.
New York offices, Whitehall Bldg., Battery Place and West
St.—(V. 110, p. 868, 1852.)
CENTRAL POWER CORPORATION.—(V.
109, p. 479, 1369.)
CENTRAL & SOUTH AMERICA TELEGRAPH CO.—Name changed
All America Cables, Inc., which
see.
at 103.
retired.^
REPORT.—For calendar year 1919, in full, in
1919.
1918.
See text
"in 1919
Apr l '20 1%%
Q—J
10 in *19 Q—M 31 Mar 31 '20 4%
J
&
D Dec 1 1943
5
7 In 1919
Q—F
May 1 '20 1%
7 In 1919
Q—J
Apr 1 1920 1%
A
&
O Apr 1 1925
5 g
7
Total auth. bond Issue: $45,000,000. viz. (on Dec. 311919): unissued,
$8,237,350
(of which $5,808,000 were reserved for retirement of U. S.
Leather Co. debentures and are now free bonds); held In stumpage and
special depreciation fund, $7,269,000; In general treasury, $516,500, less
$1,500 held for exchange of U. S. Leather pref. stock; balance outstanding,
$28,977,150.
t,o
BONDS.—In 1914 sold $12,000,000 1st M. bonds, redeemable
During 1919 the $3,206,000 outstanding pec. 31 1918 were all
Mar31'201 %% By check
Mar 31*201%%
do
Q—-J
Q—J
BONDS.—Secured by a 1st M. on all the assets and lands 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.
April 1912 to Apr. 1 1920, 1%% quar. (7% p. a.).
interval of 8 years, dividends were resumed on
Liberty bonds. V. 108, p. 271.
stock with payment of 7 % in
In Jan. 1920 paid 10% in cash.
common
7 /
7
Statement to N. Y. Stock Exch.,
1918, V. 106,
On Jan. 28 1919, after an
the
New
V. 90, p. 1173; V. 94, p. 624.
Output, sole leather.
In June 1917 pur¬
chased Wilder Tanning Co., with tannery at Waukegan, 111.—V, 104, p.
net profits
before taxes of the J. I. Case
Plow Works for the two years and of the Wallis Tractor Co. for the 2%
years ending June 30 1919, combined, averaged $755,737.
For the year
ending June 30 1920, net profits before taxes are estimated at $1,250,000.
Federal taxes for the fiscal year estimated at $130,000.
Sales for the
period from July 1 1919 to Feb. 1 1920 were $9,232,823, compared with
$3,619,539 for the corresponding period ofthe previous year.
,
'•» • •
Chicago.—(V. 110,
*
100
CANADIAN CAR & FOUNDRY CO., LTD.—(V. 109, p. 2169; Y. 110,
p.
&0
None
None
First preferred stock 7% cumulative $10,000,000 (auth)..
Second pref stock 7 % cum $5,000,000 conv Into com (auth)
a
125,000shrs
$3,500,000
3,500,000
9.100,000
13.000,000
5,025,000
9,763,000
39,701,030
33,299,050
a28,977.150
5,451,900
4,543,300
6,963,784
898,229 shs.
70,000 shrs
3.100,000
1,925,000
Gross sales
$32,342,653 $25,162,769 $17,657,754 $13,047,257
Profits
6,021,607 " 5,436,605 ~ 3,775,922
2,385,110
Bond interest, &c
416,046
572,621
726,640
737,389
Depreciation.
625,350
Prem.onbds. canc.,&c_
143,761
225,032
143,315
Written off accounts, &c. al,251,968
al.435,615
274,295
Prov. for Federal taxes..
675,000
850,000
276.000
Preferred dividends (7%)
800,250
850,500
850,500
850,600
Common dividends
681,000
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 IUuminating Co. common stock.
V. 99, p. 272.
Common stock has been deposited with Edwin M. Bulkley,
Anson W. Bur chard and Harrison Williams as voting trustees.
Div. on
...
Balance, surplus
$1,448,232
$1,602,737
$1,506,273
a European assets written off, amortization, &c.
$797,221
ized issue) are subject to call, In whole or part, on any int. date, on due notice
int., and convertible at par into pref. stock at 105, with the right
at 101 and
to convert if called for payment
The $5,963,784
issued
are
prior to maturity.
secured by deposit of $6,630,400 (over 75%)
94, p. 1451;
of the outstanding Cleveland El. III. Co. common stock. V.
V. 95, p. 50, 1334.
Pres., F. L. Dame.—(V. 106, p. 399.)
CENTRAL TERESA SUGAR CO.—V. 109, p. 1701, 1794.
DIRECTORS.—Frank K. Bull (Chairman of Board). Warren J. Davis
(Pres. & Treas.), Ellis J. Gittjns and Milton H. Pettit (V.-Ps.), W. F.
Sawyer, Racine, Wis.; F.W. Stevens, Ann Arbor, Mich.; A. O. Choate,
Francis L. Hine, N. Y.; W. E. Black, Ohas. J. Mcintosh,
Milwaukee, Wis.;
W. B. Brinton, Dixon, 111.
Office, Racine, Wis,; N. Y. office, 480 Lexing¬
ton Ave.—(V. 110, p. 1180, 1284, 1313.
CELLULOID
CERRO DE PASCO COPPER CORPORATION.—3ee V. 101, p.
1467, 1716.
Incorp. in N. Y. State in Nov. 1915 and acquired extensive
&c., deposits In Andes Mtns., Peru.
Capital stock, 1,000,000
shares, no par value; Issued, May 1920, 898,229 shares.
Listed on N. Y.
Stock Exch. Feb. 1917.
V. 104. d. 606.
copper,
COMPANY.—ORGANIZATION.—Incorporated Nov.28
1890 in New Jersey.
Stock, $6,000,000; issued, $5,925,000; par, $100.
No bonds or mortgage outstanding.
Pres., M. C. Lefferts; Vice-Pres'ts, W. E. Pulis, N. M. Clark and Henry
Rawle; Sec. & Treas., Carleton Montgomery.—(V. 110, p. 1529.)
THE CENTRAL DISTRICT TELEPHONE CO.—ORGANIZATION.
—Stockholders voted April 26 to sell the entire property to Bell Telephone
Co. of Pehna., owner of the entire ($15,000,000) share capital.
On Sept. 30
1918 the Bell Telephone Co. of Penna. acquired the property and business
of the Central District
REPORT.—Report for 1917, V. 106,
Calendar
Year—
1917—-
,1916
—(V. 101. p.
Gross
Net
p.
Interest
Earnings.
$7,936,894
Earnings.
Charges.
$1,622,791
$513,048
7,794,588
1,893,449
511,240
447, 802, 884; V. 104, p. 767; V. 106,
CENTRAL FOUNDRY CO.—(V. 109,
p.
479, 580,680; V. 110,
p.
873.)
CENTRAL ILLINOIS PUBLIC SERVICE CO.—See "El. By. Section.1
1919.
$4 00
$1 00
1920.
See
$4 00
text
The bonds of 1915 were made convertible, each $1,000 bond into 33 1-3
shares of stock, also callable at 105 subject to the conversion privilege.
Total bonds auth. and Issued, $10,000,000; converted Into stock or re¬
deemed and canceled to Dec. 31 1917, $5,458,000.
On May 1 1918 the
remainder of the issue so far as not converted were paid off at 105.
Of the
total issue about $6,200,000 were converted Into stock at $30 per share.
V. 106, p. 2012;
V. 105,
p.
501.
REPORT.—For cal. year 1919, in V. 110, p. 1847, showed:
Calendar Sales of
Net, after
Other
Bond
Dividend
Year.
Copper,&c. Taxes,&c.
$
$
Income.
Interest.
Paid.
Balance,
Sur. or Def.
$
$
$
$
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
.1917—24,974.082
3,552,685 2.060,914 534.730 4,009,471 sur.1,069,397
The total surplus Dec. 31 1919 was $10,273,493.
Production
(Lbs.
1920.
—
Month of April
Dividends
Balance,
(7%).
Surplus.
$1,050,000
$59,743
1,050,000
332,209
p. 502, il29.)
1918.
In 1920, March 1, $1; June 1, $1.
4 months to
502, showed:
1917.
$4 00
$1 75
Telephone Co. and assumed its funded debt out¬
standing.
Bonds, $25,000,000 auth. issue, of which $10,000,000 sold; remainder
Issuable only as equal amounts in cash are obtained from sales of stock and
invested in Pennsylvania; $237,000 retired by sinking fund.
Redeemable
as a whole on or after Dec. 11918 at 105 and int. on 3 mos.' notice.
Annua,
sinking fund of 1%.
V. 98, p. 613, 765, 1159.
-—$4 00
Extra
DIVIDENDS.—
/1899. 1900. 1901. 1902 to '15. '10. '17. *18. '19.'20.
Since 1899
%\ 0
7
7
8 yearly.
19% 10
10
10 text
In 1920: March 31, 2% quar. and 2% extra; 1918 and 1919,
Dec., paid
2% extra, making a total of 10% for each year.
Factories at Newark, N. J.; Office, 30 to 36 Washington Place, N. Y.
1916.
DIVIDENDS.—
Regular—
p.
3,942,000
18.954,000
April 30
Pres., L. T. Haggin.
1645, 1847, 2078.)
Chas. D. Barney & Co.
are
1919.
4,780,000
20,040,000
interested.—(V. 110,
CERTAIN-TEED PRODUCTS CORPORATION.—ORGANIZATION.
—Incorporated in Md. Jan. 30 1917 as successor of the General Roofing
Mfg. Corp.
Roofing plants located at East St. Louis and Marseilles, 111.,
York, Pa., Niagara Falls, N. Y., and Richmond, Calif. Paint and varnish
plants. St. Louis, Mo.
Produces prepared roofings, building papers, tarred
felts, insulating papers, paints, varnishes, &c.
No bonds,
v. 107. p.
1000, 1669.
Dividends on 1st and 2d pref. in full to April 1 1920.
Initial
dividend on com. Jan. 28 1918, $4 per share; none since to May 1920*
Notes
payable Dec. 311919, $494,821.
INDUSTRIAL STOCKS AND BONDS-
may, i9->0.]
Date
see
notes on first page]
Par
Amount
Rate
When
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c.,
Value
Outstanding
%
Payable
at
Chalmers Motor Corporation—
Common stock auth 400,000 shares no par value
Pref stock 8% cum call at 110 sink fd 3% July 1
1st Mtge. gold notes of Chalmers MotorCo
197
$100
1917
Mo
100 Ac
None
yearly call 105
Mfg. Dist. coll. trust notes red. 101
100 Ac
3,304,300
100
1.500.000
See text
100
100
100
1900
1916
—c*
1,000
1,000
1920
xxxc*
1918
100
REPORT.—For year 1919, in V. 110, p. 1091, showed:
Gross.
Net.
Fed. Tax. Pref. Divs. Com. Divs.
Bal.,Sur.
.$3,660,860 $1,104,599 $205,000
$360,500
$532,555
1918
2,635,090
482,712
$43,871
369,688
69,153
3,109,853
1,392,582
296,561
349.370
$240,000
506.651
Further deduc'ns, war donations, &c.. in 1919, $58,266; in 1918, $47,070.
George M. Brown, St. Louis, Mo., is President.—(Y. 109, p. 778; V. 110,
p. 1091.)
CHALMERS MOTOR CORP.—ORGANIZATION.—Incorp. in N. Y.
Nov.
3 1916 as successor of Chalmers Motor Co. of Detroit.
entire stock of Chalmers Motor Co. of Canada, Ltd.
V. 103, p.
1912.
1913.
1914.
Also owns
1794,1890.
1916. To Nov. 28'17.
1915.
Oars.
7,252
6,674
7,374
6.118
21.408
11,189
The shareholders voted Sept. 10 1917 to readjust the capitalization aa
shown in table at head of page and to lease the plant for five years to the
Maxwell Motor Co., Inc.
V. 105, p. 1106; Y. 106, p. 299; V. 107, p. 1194,
1387.
In Oct. 1919 merger was proposed with Maxwell Motor Co.—see
that company.
Balance sheet June 30 1919, V.
109, p. 978.
Directors elected in Feb.
1918: Jules S. Bache, J. Horace Harding, Hugh Chalmers, Henry E. Butler,
George C. Van Tuyl Jr., Joseph H. Clark and W. P. Kiser.
Compare V.
106, p. 399.
Financial office, Detroit.
V. 110, p. 661, 1976.
CHANDLER
MOTOR
CAR
CORP.—ORGANIZATION.—Incorp
on Nov. 16 1915 to succeed an Ohio corporation of the same
Capacity 25.000 cars per annum. Plant andoffice at Cleveland, O
Army caterpillar. &c., tractors in '18. V.106. p. 823; V. 107. p.294,1483.
V. 108, p. 271.
Status in May 1920, V. 110, p. 2196.
Stockholders of record Feb. 27 1919 were given the privilege of subscribing
to the $1,400,000 8% cum. pref. stock of the Cleveland Automobile Co.
Each holder of 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 manufacturer a smaller and
lower priced car.
V. 108, p. 786.
STOCK.—Auth. capital $10,000,000 (par $100); outstanding. $7,000,000
Oompany has no bonds, no preferred stock.
The stockholders voted Oct. 6 1919 to 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 now
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 30,000
shares $100 par value stock now held.
'
The directors on Sept. 9 1919 recommended that dividends be inaugurated
on the new stock when issued at the rate of $8 a share annually, payable
orated in Ohio
name.
.
^
auarterly,of at least $8 that "in viewbe maintained." prospective earnings a
ividend
and believe share
of current and See dividends below
a
109,
p.
can
1082, 1611.
DIVIDENDS.—In 1916: April (No. 1), 1)4%; July, 2)4; from Oct. 2
1916to Apr. 1 1919, 3%,making 12% p. a., ana in July 1917 1% for Red
Cross contributions; in July 1919 paid 4% quar.
"Stock" above.
V. 109, p. 1082; V. 108, p. 2435.
new stock of $2 a share was paid Jan. 2 1920.
and in Oct. 6%.
See
An initial dividend on
V. 109, p. 2174.
On
April 1 1920 paid $2 50 a share.
V. 110, p. 973.
Paid 33 1-3% in stock
on June 10 1920.
On July 1 1920 paid $2 50 a share on increased stock.
the
V. 110, p. 2196.
REPORT.—For cal. year 1919, in V. 110, p. 1087, showed:
1919.
1918.
1917.
Gross profit from sales
Interest earned, Ac._
$6,650,408
202,731
$2,905,373
147,396
$3,248,172
29,543
1
$6,853,139
$3,052,769
$3,277,715
Total
income
Selling,
&c.,
expenses
and
charges, incl. depreciation
other
1,200,884
taxes
Balance,
surplus.
§95_^312
$2,194,618
840,000
635,902
$2,382,403
910,000
$4,164,949
profit
Dividends paid
858,151
$5,652,255
330,000
1,157,306
Net
Federal
$718,715
$1,472,403
OFFICERS.—Pres. & Gen. Mgr., F. C. Chandler; V.-Pres., W. S. M.
Mead, C. A. Emise, John R. Hall; Sec., Isador Grossman; Treas., Sam'l
Regar.—(V. 109, p. 1611. 1794; V. 110, p. 1087, 1751, 1976, 2196.)
CHARCOAL
IRON
CO.
OF
AMERICA,
DETROIT— (V.
109,
p.
1985, 2266; V. 110, p. 2078.)
COMPANY.—In¬
corporated under New York laws July 2 1883. succeeding the National
Capital Telephone Co. of Washington, D. C., and the 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
1919, 82,589 (not including 545 service, &c., stations).
BONDS.—Authorized, $1,500,000; outstanding Dec. 311919, $1,204,000.
Retired through sinking fund, $296,000.
Redeemable at 103 and interest
on any interest date upon three weeks' notice.
Sinking fund 2% annually
of outstanding bonds.
EARNINGS—For cal. year 1919 (not including telephone operations
during Federal control period of year, i. e., Jan. 1 to July 31 1919).
Gross,
$1,632,114; oper. income, $21,183; gross income, $679,719; deductions,
$214,126; dividends (3% for 6 mos. only), $390,000; surplus, $75,593.
THE CHESAPEAKE &
POTOMAC TELEPHONE
.
THE
CHESAPEAKE
&
POTOMAC
TELEPHONE
CO.
OF
VIR¬
GINIA.—Incorporated in Virginia in 1912 as successor of the Southern Bell
Telep. & Teleg. Co. of Virginia.
Stations Dec. 31 1919, 82,370 (not in¬
cluding 4,994 service, Ac.)
Stock, $4,247,000, owned by the New York
Telephone Co.
„
Of the bonds ($5,000,000 auth. issue), $3,304,300 outstanding Dec. 31
1919, $195,700 retired through the sinking fund and $1,500,000 reserved for
improvements and additions.
Redeemable as a whole, on or
1918 at 103.
Sinking fund, )4 of 1% semi-annually beginning
Old Dominion Trust Co. of Richmond, trustee.
V. 98,
after Nov. 1
May 1 1914;
765, 915; V. 100,
including telephone operations during Federal con¬
p.
p.
558.
10)^ *18
For 1919 (not
trol period of year, i. e., Jan. 1 to July 31 1919): Gross, $1,466,755; oper.
income, def. $14,168; gross income, $411,208; net income, def. $180,476;
dividends for 6 mos. only (2%) $84,940; bal. def. $265,416.—(V. 103, p,
2344; V. 105, p. 1900; V. 106, p. 1038.)
CHESEBROUGH MANUFACTURING CO.. CONSOLIDATED.—OR¬
GANIZATION.
AC.—Incorporated in 1880 In New York.
Manufacturer"
(petroleum jelly). Formerly controlled by Standard Oil Coof N. J., but segregated In 1911.
See Standard Oil Co. of N. J., V. 85, p*
216, 790; V. 93. p. 1390.
Stock, $500,000; par, $100.
June 10 1916 the
capital stock was increased from $500,000 to $1,500,000 by a 200% stock
dividend.
V. 102, p. 1720.
Notes payable June 30 1919, $300,000.
of "Vaseline"
Places Where Interest and
Dividends are Payable
A
O Oct
1 1922
See text
J July 1 1929
New York
Wash, Am Sec A Tr Co
MAN Mayll943
Richmond, Va
Mar 31 '20 3)4 Checks mailed
Q—M
Q-M 31 Mar 31 '20 1%
do
do
see
&c
text
Old Colony Tr Co, Boston
do
do
Guaranty Trust Co, N Y
5
6
MAS Mar 1 '21 to \tl FIrRt Tr
7 g
MAN May
'19
In
2,967,500
6 g
V
Year—
&
Q—J
5 g
3.400,000
850,000
100
$13,000,000
101_.CeCxxxxc*&r*
A
J
6,500,000 9 In 1919
See text
Q-J
6,500,000 6 In 1919
See text
Q—J
14 000,000 4 A 5 g
A
&
O Apr 1 1940
,
1,000
1919
and V.
6 g
3,150,000
280,000 shs See text
5
1,204,000
1.000
1913
a.xc*Ar
due $120,000
Central
Output.
Maturity
400,000 shs
$4,400,000
1899
--
.
Annual
and
1
None
Chesebrougb Manufacturing Co Consol—Stock $1.500.000
Pref stock 7% cum $1,000,000 non-voting call (text)
Chevrolet Motor Co—See General Motors Co
Chicago Edison Co—See Commonwealth Edison Co
Cmcago Junction Rys A Union Stock Yards—Common stock
Railroad issues guaranteed, see text
Chicago Pneumatic Too! Co—Stock auth
1st M $3,250,000 g due ann Oct 1; call
Last Dividend
"
1920
Chandler Motor Car Corp—Auth capital stk 300,000 shrs
Ches & Potomac Tel Co—Cons M $1,500,000 s fd call 103 c*
Ches & Potomac Teleph Co of Va—1st M g red
c*
Preferred 'a & d) 6% cumulative
Mtge & Coll Tr Rof bds g ($10,000,000 5s)
Central Mfg Dlst 1st M $10,000,000 gu "A"
159
-
Q—J 25
A
A
1
1923
Apr 26
& Sav
Bk, Chlo
Chicago
20 2 % LIb'ty NatBk.N YAOhtc
O Oct 1 1920to'23 Cont.A
Com.Nat.Bk.,C,
1
The stockholders voted Nov. 17 on
increasing the capital stock from
$1,500,000, all common, to $2,500,000, by the creation of $1,000,000 7%
non-voting pref. stock (par $100) redeem, at 112)4 after Jan. 1 1925.
$500,000 of this new pref. stock is being offered to stockholders of record
Dec. 1 1919 at par ana dividend to the extent of 33 1-3
% of their holdings,
subscriptions payable in full on or before Dec. 31 1919.
The remaining
$500,000 may be issued at the discretion of the directors.
V. 109, p. 1701,
cum.
1989.
LATE DIVS.
(%). 1912-15. 1916.
1917 to March 1919 to March 1920.
40 y'rly.
15
12 ($3 Q.-M.)
$3
1
cash.(stk., see above)
5)4
2 (50c. Q.-M.)
50cts./Q.-M.
Owing to the abnormal conditions prevailing it was thought best in
Nov. 1918 to conserve cash by omitting the usual December dividends.
V. 107, p. 2011.
Initial div. of 1 % % on new pref. stock paid Mar. 31 1920.
Pres., O. N. Carnmann; V.-P., C. W. McGee; Sec.. R. S. Gill; Treas,,
Charles Lamont; Asst. Sec. A Treas., Fred'k H. Williams.
Office, 17 State
St., N. Y.—(V. 110, p. 873.)
Regular
Extra
__
CHICAGO JUNCTION RAILWAYS & UNION STOCK YARDS CO.
owns entire
($132,000 shares) of Union Stock Yard & Transit Co. and Chic. June.
Ry., 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,
Ac.
V. 100, p. 1261.
In 1907 New York Central RR. Interests acquired
—ORGANIZATION.—Incorp. in 1890 in New Jersey, and
stock
the
46 miles outer belt line of the Chicago Junction Ry.,
assuming the
$2,500,000 bonds, and giving $2,500,000 new bonds in payment.
V. 85,
p. 159;
V. 86, p. 664.
The Central Manufacturing District of Chicago trustees own about 375
acres on which factories have been erected and used by about 150 industrial
concerns.
V. 99, p. 342; V. 100,
p. 1261;,V. 106, p. 2227.
See bonds below.
Chicago Stock Yaras Co. (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.
DIVIDENDS.—On
pref., 6% yearly (Q.-J.).
1892 to Jan. 1 1915, incl., 8% yearly;
BONDS.—The
collateral
trust
1915 to
bonds
are
On
common, 1891,10%.
Oct 1919,9% (2)4% Q.-J.).
secured
by pledge of 131,803
Oo., $5,499,100 of the
$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¬
plemental mortgage the 1% additional Interest over the original 4% on the
$10,000,000 bonds will be a secondary charge on the property.
See V. 70.
p. 1251; V. 72. p. 389; V. 86, p. 664; 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, priu. A int., by
endorsement, by the Ch. June. Rys. & 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. 4)4s due Jan. 1 1920 were refunded by an issue of 5)4s due Jan. 1930.
Also guarantees principal and interest of (a) $765,000 Chic. River & lnd.
RR. 6s: (b) $2,327,000 Chicago Junction RR. 4s.
See RR. companies.
REPORT.—Report for 1919, in V. 110, p. 1091, showed combined results
of N. J. company, Transit Co. and Ry. Co.:
shares of the stock of Union Stock Yards & Transit
1919.
Gross earnings.
Taxes, int. & oper. exp._
1918.
1917.
$6,237,412
4,744,955
$5,644,627
4,130,862
$7,726,131
6,320,568
1916.
$7,208,313
5,515,109
Surplus after int., &c.
$1,492,456
$1,513,765
$1,405,563
$1,693,204
H. Prince (Pres.), Eugene V. R. Thayer (V.-P.),
(V.-P.), Bradley W. Palmer, F. Lothrop Ames, C. B.
Wiggin, Boston; John A. Spoor, Chicago; Wm. C. Lane, L. F. Loree,
N. Y., M. A. Taylor, Boston.
N. Y. agency, 25 Broad St.
Sec.-Treas„
M. A. Taylor.—V. 108, p. 1167; V. 110, p. 969, 1091.)
DIRECTORS.—F.
Geo. P. Gardner
CHICAGO PNEUMATIC TOOL CO.—ORGANIZATION.—Incorp.
in 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.
Description of plants, Ac., in 1918,
V. 107, p. 1667, 1922; V. 109, p. 1276.
STOCK.—Stock listed on N. Y. Stock Exchange In June 1918.
The stockholders
vote d
Dec. 5 1919 on increasing the auth. capital
stock from $7,500,000 ($6,448,800 outstanding) to $13,000,000.
Stock¬
holders of record Dec. 19 1919 were given the privilege of subscribing until
Jan. 20 1920 to the new stock at par equivalent to their respective holdings,
bringing the outstanding amount up to $12,897,600.
V. 109, p. 1794,
2266.
all
The proceeds will be used for the retirement of outstanding bonds
fixed charges, and to increase the company's working capital.
LATE DIVS.—
Per cent
In Jan.
f'06. *07. '08. '09. '10.
4
4
0
0
3
*11 to '17.
4 yearly
*19.
6
1918.
5)4
1920 the quarterly dividend was raised to 2%; Apr.
2%
BONDS.—The shareholders
and
1920.
text
1920, paid
to authorize
$3,250,Mtge. bonds to provide for the retirement of $1,238,000
before maturity Dec. 31 1921 and for plant extensions
by Hornblower & Weeks and Elston & Co. placed
these bonds.
These bonds are callable at 101 and int. on any interest
date upon three weeks' notice, all or any part.
Maturities: $400,000 Oct.
1 1920, $400,000 Oct. 1921. $450,000 Oct. 1 1922 and $2,000,000 Oct
1
1923.
Sinking fund beginning Oct. 1 1918, 25% of net earnings; $163,800
retired to Sept. 30 1919.
See V. 107, p. 1581, 1071. 1922.
Notes payable
000
6%
voted Oct.
21
1918
Ref.
1st M. 5s (paid off)
A syndicate headed
as
of Dec. 31 1919, $2,400,000.
REPORT.—For 1919, in V. 110, p. 1190; for 3 mos.
.
.
„
ended Mar. 31 1920,
**
'CaL Years—
1919.
1918.
1917.
1916.
$1,748,076
$2,006,372
$1,577,980
xl,095,271
872,414
665,256
455,182
547,216
308,667
121,725
119,375
168,000
31,162
50,000
50,000
Dividends(6)4 %)419,172
(6)386,928
(4)257,952
(4)257.952
Balance, surplus
69,879
148,906
911,438
695,471
*After providing for depreciation, $376,427, and for Federal taxes.
ResuUs
for
Total income
.....*$2,299,539
Deprec., extor. loss., &c.
Bond, Ac., interest.....
Sinking fund
.
x
In
truck
1919 amount due to sales of inventories and plant of the motor
department.
\
Date
Par
Amount
Bate
When
Bonds
Value
Outstanding
%
Payable
COMPANIES
MISCELLANEOUS
[For abbreviations, &c., see notes on first
page)
Exclusive of $3,000,000 pledged for 3-year
1976
1,000 &c
1913
1917
25
500 Ac
500 &c
5
100
Chile Copper Co—Stock autb $135.000,000
Ooll trust 7% conv g bonds auth $15.000,000
G.c*&r*
Convertible 15-vear bonds. Ser A, (see text) call g .Gc*&r*
Chino Copper Co.—Stock $4,600.000
Cln Gas & El Co—Ist M $15,000,000 gsrd call 102-Co.c*&r*
Three-year notes red (see text)...
xxxc*
Three-year secured notes
xxxc*
Cities Service Co—Hee "Electric Railway Section"
Civic Investment & Industrial Co—See Montreal Llgbt,
Claflin (H B) Co—See Mercantile Stores Corporation
Clearfield li Coal Corp—IstM intgu by Bch Cr RR g s f .CoLxc*
Mortgage $5,000,000 gold auth gu by N Y Cent.G.xc*&r*
Old bonds on Penn C & O properties, see text
CIeveland(0;Elec III Co—IstM $30,000,000 call Apr '24 text c•
x
$500 &c
1908
1916
1919
1,000 Ac
1,000
1,000
Heat
&
1891
1911
Ac
2.500,000
500 &c
18,500,000
100
OFFICERS.—Chairman of Board, John R. McGinley: Pres., Herbert A.
W. P. Presslnger and W
If. Oallan: Treas .
L. Price; Sec., H. D. Megary; Compt., J. U. Blanchet.
Directors,
Chas. M. Schwab, James II. Ward, A. F. Caasidy, J. R. McGinley, W. A.
Mitchell. H. A. Jackson, J. L. Price and E. M. Richardson,
N. Y. office,
6 East 44th St.—(V. 110,. p. 264, 1190, 1287, 2196.)
CHICAGO STOCK YARDS CO.—Incorp. in Sent. 1911
all of the $3,500,000 common stock of Chicago Junction
owns
in Maine and
Rys. & Union
_
.
_.
Ames Bldg., Boston.-
193.)
(V. 94, p. 210; V. 106, p.
(BELL) TELEPHONE CO.—Incorp. In
Operates in Chicago and neighboring towns, Amer.
CHICAGO
Illinois Jan. 14
Telep. St Teleg.
Co.. which owns $39,361,400 of the $40,000,000 stock.
V. 93, p. 1467.
1791.
Franchise granted 1907, expiring Jan. 8 1929, provides that 3% of
city aunuaiiy. City may purchase proper¬
5% lu excess of cost of duplication
V. 85.
p.T 211.
Stations Dec. 31 1919, 675, 836. Rates, V/106, p. 2124; V. 107,
p. 1749; V. 108, p. 2531; Y. 109, p. 2266; V. 110, p. 973.
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. 106, p. 2760.
DIVIDENDS.—Kor many years 10% yearly; since Dec. 1908 2% quar.
(Stock dlv. Oct. 1908. 20%); 1909 to Mar. 1920. 8% (Q.-M.L
gross earnings are to be paid to
ties Jan. 1 1919 or 1924 at price
BONDS.—Bonds
In
$50,000,000.
autnorlzed,
1903
$5,000,000
were
401.1 and in Apr. 1912 $14,000,000.
Additional bonds can be issued since
0 o. 1 1909 at rate of $5,000,000 yearly
Amount of bonds cannot exceed
construction
be Issued up
742. 1607; V. 94, d.1905.
50% of total assets nor more than 00% of the real estate and
accounts.
Subject to these limitations, further amounts may
V. 87. p.
of the cost of Improvements. &c.
Other funded debt Dec. 31 1919: Real estate notes,
1st
&
Ref.
$30,000; Lake Co. Tel.
5s, $14,000.
REPORT.—Report for cal. year 1919:
Year—
Gross.
Net.
Int.. Ac.
1919—:
-.$27,138,198 $3,341,187 $1,117,582
—
—
Balance.
Dirs.{$%,
$623,605
$1,600,000
3,362,670 1,195,871 2,960,000 def. 793,201
3,666,219
1,219,221
2,520,000 def.73,002
4.509,965
1,096,379 2.220,000
1,193.586
*$1,600,000 dividends paid out of surplus in addition to the $1,600,000
charged to income.—V. 110, p. 973, 1645.
CHILDS CO., N. Y—(V. 109, p. 890, 2075; V. 110, p. 468, 558, 874.
CHILE COPPER CO.—Incorporated April 16 1913 In Delaware and
the entire 10.000 Bhares of full-paid and non-assessable capital stock
of N. J.
Said company owns and operate*
extensive deposits of low-grade copper ore and a plant for producing elecsrolytic copper at or near Chuquicamata, Northern Chile, on a branch of
the Antofagasta & Bolivia Ry., 163 miles northeast of Port of Antofagasta.
and 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, with capacity
for treating 10,000 tons or ore daily, began operations May 18 1915. yearly
owns
of the Chile Exploration Oo.
capacity, 110,000,000 lbs.
In 1918-19 capacity was to be increased to
27,000 tons daily, or 300,000,000 lbs. yearly.
V. 104, p 1147
In Oct
1918 the daily capacity had been increased from 10,000 to 15,000 tons per
day.
Total positive and probable ore Dec. 31 1918, 697,510.349 tons, viz.,
336H mil "oxidized," 1.91% cu.; 151 mil "mixed," 2.98% cu.; 210 mil
"sulphide," 1.84% cu.
Securities listed on N. Y. Stock Exchange.
See statement, V.101 ,p.1893
STOCK.—Of $135,000,000,
$40,000,000 is reserved for conversion of bds
.
stock of Chile Explor¬
ation Co. of N. J. and convertible at option of holder prior to May 1 1923into stock, par for par. (V. 100, p. 2088, 2169.)
In April 1917 sold $35,000,000 6% convertible, series A bonds, (total
auth., $100,000,000) to pay floating debt and pay for further additions, &c.
These bonds are convertible into stock at any time, $35 of bonds for
$25
•fcock [or at lower rate in case of issue of (a) bonds convertible at lower rate;
(b) stock at less than $35per 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 paid off May 1 1923 and $50.OOO.OOO for acquisitions, improvements, &c., under careful
restrictions.
The initial $35,000,000 was underwritten.
In May 1919 holders of the
50% paid receipts for these bonds who desired It were given till Sept. 29
1919 to complete their payments.
On Dec. 31 1918 $27,353,250 had been
paid in on the subscriptions for these $35,000,000 6% bonds and there were
still outstanding $7,646,750 deferred subscriptions, all due Sept. 29 1919.
V. 109, p. 778; V. 10*. p. 1047, 1147, 1594, 2013; V. 105, p. 1000; V.
106, p. 1580, 2563; V. 107, p. 148$; Y. 108, p. 1612 , 2430.
BONDS.—Issue of 1913 secured by entire capital
March
1920.
1919.
9.256,000
10,671,755
4,508,000
11,563,676
{lbs.)—
—
--
-
Three months-
.
REPORT.—Year 1918, V. 108, p. 2430:
Yr.
Gross.
Net.
Oth. Inc.
Interest.
Miscel.
1918—$20,931,071 $8,516,404 $437,263 $2,422,419*$3,091,019
1917
18,908,855 7,157,077 649,294
1,860,526 *3.347,435
1916
10.558.725 4.133.703
39.346 1.463,676
772,981
Cal.
—
..
19?9^-—f ——dfeoO,211
$529,412 $785,818
Surplus.
$3,440,229
2,598.411
1,936.392
$35,701 def$590,916
300,936
$2,495,142.
1918
817,590
213,515 < 664,622
65,547
♦Includes in 1918 Fed'l taxes, &c.. $595,877, and other chgs.,
OFFICERS.—Daniel Guggenheim, Pres.
A. O. Burrage. Murry Gug¬
genheim, H. F. Guggenheim, V.-Ps.; Leopold
Bennett, Sec.—(V. 110, p. 264. 973, 1645.)
CHINO COPPER CO.—Incorp. in
Frederick, Treas.; W. E.
Maine in Juno 1909.
Owns prop-
erties in Grant Co., N. M.
DIVIDENDS.— 1913.
Per
cent
&
J Jan
1 1940
Columbia Trust Co, N
&
N Nov
1 1932
Company's office
A
&
O
1 1939
Checks mailed
J
5 g
Apr
Y
110, p. 1645.
19.6.
1917.
1918.
CHOATE OIL CORPORATION.—(V.
110, p. 1418, 1529.)
CINCINNATI GAS & ELECTRIC CO.—Owns generating
stations and
Operated by Union Gas & Electric Co., a subsidiary of Columbia Gas &
Electric Co. (which see below) under a 99-year lease dated Sept. 1 1906.
which, as amended, provides for payment of all interest and sinking fund
charges and dividend of 5% upon the $35,050,300 capital stock, (par $100
a
share).
Performance or lessee company is guaranteed by deposit of
$3,000,000 In cash aDd securities with trustees, which is to be gradually
increased to $3,750,000.
Official report to N Y. Stock Exchange was in
full in V. 103, p. 1428.
Rates in 1919. V. 108, p. 1723.
BONDS.. ETC.—Of the $15,000,000 1st M. bonds, $9,459,000 were sold
in 1916-18 to provide for improvements and the construction of an electric
generating station with an immediate capacity of 50,000 h. p. (ultimately
100,000), raising the company's total present output capacity to 79,000 h.p.
and to refund $1,500,000 Cincinnati Edison Electric Co. bonds, June 1
1917, the balance were availablefor the company under restrictions. See V.
104, p. 266, 1901, 2014; V. 105, p. 74. 391, 501, 1524.
In Dec. 1919 the Ohio P. U. Commission authorized the issuance of
$4,400,000 bonds to take care of the financing of a third generating unit
and for refunding the notes due Mar. 15 1920.
Sale of 30,000 shares of pref. stock of Cincinnati
47)4
Production {in lbs.)—
Month of April
1914.
50
1915.
60
1916.
165
A
Four months to April 30
^Restdts for Quarters ending
March 31—
Total income
Distribution to stockholders.
Surplus after disbursements to stockholders
'18.
'19.
1920.
90
60
7H,—,—
1920.
1919.
3,543,471
3,498,747
14,215,226
15,062,423
19201919.
$809,727 df.$173,441
326,243
652,485
1917.
198
$483,484 df.$825,927
Gas Transportation Co.
See V. 110, p. 80.
1 1919 (both 6% and 7%) are redeemable, all or
part, at 1013^ on or before Dec, 1 1920, at 101 on or before Dec. 11921 and
at 100M thereafter.
The 6% notes were issued in connection with the
payment of $2,225,000 6% notes due Mar. 15 1920.
They are secured by
deposit of $3,000,000 of the company's 1st & ref. (now 1st) mtge. 5% bonds.
V. 110, p. 874, 973.
to Columbia Gas & Elec. Co.
The 3-year notes of Dec.
FUEL
CITIES
22,433,426
21,543.914
19,672.718
1918
Production
.
distributing systems supplying gas and electricity to Cincinnati and suburbs.
.
.
Fred'k H. Prince, Jr. and Treas., F. R. Pegram,
to 75%
m-.-.
g M
4 g
REPORT.—For year 1919 in V.
Calendar Years—
1919.
Co.
Jan. 1914 to
bonds above
1881.
Payable
Copper produced (lbs.). 40,488,706
75,655,641
79,636.235 72,319,508
Total income
$7,326,525 $17,089,312 $19,261,306 $19,219,767
Net for dividends
1,301,977
$3,967,221
$9,512,854 $12,527,948
Dividends
2,609,940
4,060,011
8,612,802
7,177,335
Pres., C. M. MacNeill, N. Y. City.—(V. 110, p. 80, 874, 1190,1645,
1751, 2079, 2196.)
(W 93, p. 1193; V. 94, p. 210).
Has
stock in $100 shares (20% owned by
common
are
••
Stock Yards Co.—which see above.
$8,000,000
Where Interest uni
Dividends
secured notes
J.
Armour &
Places
Power Consol
Jackson: V.-Ps., J. L. Price.
outstanding
Dividend
and Maturity
^
644.400
1.000 &c
1919
Last
Old Colony Tr Co, Boat
1 1961
&
O Oct
5 g
-M 31 Mar 31 *20 2% Chicago
40,000,000 8 In 1919
First Tr Sc. Sav Bk, Cb
<Sc
D Dec 1 1923
5 g
18,995,000
95.000,000
&
N May 1 1923
Guaranty Trust Co,[NY
M
15,000.000
J g
New York
A
&
O Apr 1 1932
6 g
35,000.000
Q- M 31 Mar 31 '20 7H New York
4,349,900;See text
N Y and Cincinnati
A
&
O Apr 1 1956
i
x9.459.000
?g
New York
J
&
D Decl
1922
1,500,000
I g
New York
J
&
D Dec 1 1922
6 g
2,400,000
$6,220,000
1911
Chicago Stock Yards Co—Collat tr bonds g red 105
OBx
Chicago (Bell) Telephone—Stock $40,000,000 authorized.
1st M $50,000,000 g red 105 since Dec J 1913 .FC.xxc*&r*
[VOL. 110
BONDS
INDUSTRIAL STOCKS AND
160
POWER CO.—See V. 109. p. 1701,
&
CITIES SERVICE CO.. NEW YORK.—See
CLEARFIELD BITUMINOUS COAL
ZATION.—Incorp. Oct. 7 1886 in Penn.
1795.
"Elec. Ry." Section.
CORPORATION—ORGANI¬
and owns over 148,000 acres of
Clearfield, Centre and Indiana counties,
Pa.
Stock, $825,000, all owned by New York Central RR.
In 1911 acquired, per plan V. 92, p. 1439, property of the Pennsylvania
Coal & Coke Co. (foreclosed June 23 1911), and under said plan leases to
the Pennsylvania Coal & 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 see
coal lands, mineral rights, &c., in
report, V. 107, p. 800.
RR. Co. guarantees (V. 103, p. 1794)
($5,000,000 auth.), present issue. $2,500,000
Central
Y.
BONDS.—The N.
& L, of the 4J4s of 1911
p.
(V. 92, p. 1439; V. 93, p. 164; V. 103, p. 1794.) These
(see V, 103, p. 1794) were a first lien on 22,000 acres
bonds are dated 1911
of coal and a general
126,000 acres, subject to $6,260,400 closed prior lien bonds,
including those shown in table on preceding page, and also the following:
mortgage on
Interest.
Outstanding. When Due.
Mtg.xl902
5 g M-S
$2.618,00U March 194i
1902
5 g J-J
1,057,000 July 1 1932
red. 105 s. f. 3o. per ton_.x/Int. at Commercial Tj . Co., Phila., trustee.
Chest. Creek Land & Impt.f 1898
4 A-0
60,000 Oct. 1 1924
first mortgage
CKxJ
To be retired $12,000 yearly.
Beech Creek C. & C. 1st mtg.)
1904
5 g J-D
1,818,000 June 1 1944
$3,000,000 g. guar. p. & l.ilnt. at Columbia Tr. Co., N. Y., trustee
end. redeem. ($1,000 each) Sinking fund 3c. per ton; minimum, $75.00(1
(V. 80. p. 1364)
xo*J yearly; V. 78, p. 1910: V. 79, p. 1706
Bonds on Penn. C. A C. Prop. Date.
Webster C. & C. 1st cons.
Peon. C.&C. 1st M. Ser. A. g.l
^
West Branch Coal Co.
($1.000)
lstM.\ 1896
1 1930
75,000 Jan
5 J J
JH. B. Powell. Clearfield. Pa., trustee
-
Pres., F. E. Herriman; V.-P., H. S. Vanderbilt; V.-P., John Carstensen;
Sec., D. W. Pardee; Treas., M. S. Barger.
Office, Grand Central Ter¬
minal. N. Y.—(V. 106, p. 2232; V. 107, p. 184.)
CLEVELAND (O.)
ELECTRIC ILLUMINATING CO.—ORGANIZA¬
TION.—Incorporated in Ohio in 1893: present name, 1895. Has unlimited
Cleveland and 28 adjoining towns.
V. 105. p. 2001. 2097.
franchios in
Rates, V. 107, p. 1922; V. 109, p. 374.
The Central States Electric Corp. (which see above)
than 74% of the common
stock.
has acquired more
V. 94, p. 1451, 1386, 1251.
STOCK.—Auth., $30,000,000 (increased from $18,000,000 in 1920), of
$1,000,000 may be 6% cum. pref. (a. & d.).
Pref. stock issued,
$800,000; com., $9,763,500. V. 96, p. 1158.
Divs. on pref. in full; on
com. from 1904 to Oct. 15 1918, 8% yearly.
Par, $100.
In Feb. 1918 the authorized capital stock was increased from $15,000,000
which
to
V.
$18,000,000, the $3,000,000 new stock to consist of
106, p. 931.
7% pref. stock.
They are redeemable on Apr. 1
1924 at 107 J4 and Int., and thereafter on any Int. date at a price decreasing
at rate of H of 1% yearly to maturity.
The authorized issue is $30,000,000;
beyond the first $5,000,000 bonds can be Issued only to the extent of 80%
of the cost of future additions, provided the net earnings are twice the
Interest charge.
V. 95, p. 969; V. 100, p. 143; V. 104, p. 562
In 1917
issued $4,500,000
1st Mtge. 5s, and In Jan. 1919 a further $2,500,000,
(to increase the capacity of power plant to 240,000 b., p., &o.), making
$18,500,000 then out. V. 104, p. 2110; V. 105, p. 183, 2186, 2275; V. 108.
p. 174.
BONDS.—The bonds are now a first lien.
EARNINGS.—For fiscal
Calendar
Years—
Gross
Earnings.
1917
$6,863,886
1916— 5,109,738
year
Net
ending Dec. 31 1917. V. 106. p. 824.
Fixed
Pref.Divs. Com.Dins. Balance,
Earnings. Charges.
$1,506,654
$576,923
1,601,592
401,983
(6%).
$48,000
48.000
(8%).
$781,080
781,080
Surplus.
$100,650
370,529
Pres., Harrison Williams; Sec., S. O. D.
Office, Cleveland, O.—V. 108, p. 174; V. 109, p. 374.
OFFICERS.—Chairman and
Johns.
CLINTON-WRIGHT WIRE CO.—See Wickwire Spencer Steel Corp.
161
INDUSTRIAL STOCKS AND BONDS
Mat, 1920.]
Date
MISCELLANEOUS COMPANIES
[For abbreviations, &c.,
see notes on
Bonds
first page]
Rate
When
%
Payable
$100 $18,000,000 6 in 1919
Cluett Peabody & Co. Inc.—Common stock $18,000,000-Pref fa ft d) 7% cumulative $9.000.000
Coca-Cola Co (of Del)—Com stock 500,000 shares (v t c)__
7,000.000 7 in
100
None
500,000shs.
100
10,000,000
Preferred (a Sc d) stock 7% cum non-voting $10,000,000.
Co lor a do Fuel & Iron—Common stock $44,200,000 au.tn_>«
Preferred stock (not as to assets) 8% cum $2,000,000
Colo Fuel & Iron GenM $6,000,000 g s f red 105..Ce.c*&r
Colo Indus 1st M gold ser A & B guar p & 1 call lOo-.N.o'&r
Amount
Outstanding
Par
Value
LOO
1893
1,000
1904
1.000
1901
Q—J
Text
—F
are
Payable
May 20'20 H%
May 20 '20 2% Chase Nat Bank, N Y
-J25
5,159,000
32,515,000
5g
F
&
A Feb
5 g
F
&
A
367,000
5 g
MAN May 1 1951
1,000
Dividends
New
New
2.000,000 8 in 1919
Places Where Interest and
May 1 1920 2% Checks mailed
do
do
Apr 1 1920 1%
Apr 2 1920 $1
Q—F
1919
3 1,235,500
100
Last Dividend
and Maturity
1 1943
Chase
Aug 11934
Nat
Bank,
N
Y
New York Trust Co, N Y
Bonds of Properties
Controlled.
Rocky Mountain Coal <fc Iron first mtge gold guar—Col
Pueblo Realty Tr Co M (V 91, p 1772)
Colts Patent Plre Arms Mfg Co—Stock $5.000.000
Columbia Gas & Electric Co—Stock $50,000,000——
First M s f gold $25,000,000 ($7,336,000 canceled)-Col.*c»
Debentures authorized $2.850.000
Cex
Cin Gas Transp Co 1st M $5,000,000 s f oall 1911 110
z
Union Lt Ht & Power Co—See that co on subsequent page.
Cin Gas & El Co bonds—See that co. above.
J
6
A
J
383,000
text
5.000.000 See
Q—J
—-
.
25
100
50,000,000
xl3.777,000
2,850,000
1,000
2,811,000
j" A~"j
g"
Columbia
Tr Co,
N
Y
New York City
Apr"1 1920"" 5%
Hartford, Conn
May 15 *20, IX
1907
500
&c
5
1913
1908
500
&c
5
J
&
J
5 K
J
A
Columbia" Tr"Oo,~N Y" *
J July 1 1933
Jan
1 1927
Jan
11927
Prov" S~ B*~A ~Tr Co,"Chi *
United Fuel Gas On bonds—See that company.
x
Including $2,274,500 in treasury.
CLUETT, PEABODY & CO., INC.—ORGANIZATION.—Incorp. In
York Feb.
4
1913.
Combined factories at Troy. N. Y.;
also
New
Schenectady .Nassau and Corinth, N. Y.;
Leominster, Mass.; Philadelphia, Pa.; South Norwalk, Conn.; St. Johns,
operates factories at Rochester,
Sue., Sherbrooke, Ont., and Montreal, Que., and a bleachery at Waterford,
Y.
Annual production about 12,000,000 dozen collars and 500,000
DIRECTORS.—J. McClement, J. B. McKennan, Willard P. Ward,
F. Welborn, Fred Farrar, Starr J. Murphy, John C. Mitchell, Joseph
Chilberg, S. G. Pierson, Bertram Cutler, David H. Taylor, Albert A. Reed
and M. D. Thatcher.—(V. 109, p. 581, 778, 1990; V. 110, p. 1182, 1293,
1645, 2196.)
J.
COLORADO POWER CO.—(V. 108,
.
dozen shirts. ;
V. 96, p. 491.
Canadian Co., V. 106, p. 2454.
STOCK.—Pref. Is callable, all or part, In blocks of 10% of issue, at 125
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 of surplus profits.
The
pref. has no vote for directors unless four quarterly dividends are in default.
No mortgage or new pref. without consent of 75% of each class of stock.
In Feb. 1919 $2,000,000 pref. stock was in treasury;
$1,000,000 of the
original $10,000,000 has been amortized.
Dividend on common, 1914 and 1915, 4%; 1916, 5% (1 H% quar.);
1917, 6% (144% quar.); Feb. 1918 to Nov 1919, 6% p. a. (144% quar.)—
In Feb. & May 1920 paid 2% quarterly.
1916.
$32,421,816 $21,499,554 $19,250,603 $16,524,117
7,754,539
3,653,142
2,905,725
3,051,269
189,877
279,663
153,061
26,016
Bond, &c., interest
Depreciation, &c
293,592
327.315
222,419
2,117,941
l,175,00o
(7%).._
490,000
490,000
490,000
Common dividends..(6%) 1,080,000 (6)1.08-J,000 (6)1,080,000
213,428
Federal taxes
Preferred divs.
490,000
(5)900,000
Balance, surplus
$3,583,129
$301,164
$960,245
$1,421,824
President, G. A. Cluett; Vice-Presidents, E. Harold Cluett and C. A.
Culver; Sec., A. E. Cluett; Treas., A. Gillespie.—(V. 109, p. 175, 778;
V. 110, p. 761.)
OF
DELA.—ORGAN.—Incorp. in Delaware on
of Coca-Cola Co. of Ga. Business started in 1886.
manufacturing plants at New York.
Chicago, Baltimore, Dallas, Kansas City, Philadelphia, Los Angeles, Ha¬
vana and Santiago, Cuba, and in 12 cities in Canada.
Normal combined
manufacturing capacity of plants is 16,000,o00 gallons per annum.
Voting Trustees.—The 500,000 shares of common stock have been deposited
with the Guaranty Trust Co. of New York under a voting trust agreement,
for 5 years, the voting trustees being S. C. Dobbs, V.-Pres. the 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.
DIVIDENDS.—Initial div. on com. stock of $1 paid April 2 1920.
COCA-COLA
Sept. 5 1919
CO.
as successor
Main plant at Atlanta, Ga., also has
EARNINGS.—9 Mos. to Sept. 30—
1919.
1918.
$18,918,709 $10,125,023
$3,946,174
$1,995,943
Earnings of new company for period Sept, 12 to Dec. 31 1919
Gross earnings, $6,702,646; net income, $988,641.
For balance
compare V. 110, p. 1524.
Gross
sales
Net profits
Net Sales and Net Income (,Before
Net sales
Net, before Fed. taxes.-
Increase$8,793,685
$1,950,231
as follows:
sheet, &c.,
1915.
1916.
In Oct. 1917
Conn.
purchased plant at Merlden, Conn. V. 106, p. 2013.
make 50,000 adding
In Mar. 1919 was reported to have taken contract to
machines.
In Apr.
V. 108, p. 1062.
1917 the
company
Increased its auth. capital stock from $2,500,-
000 to $5,000,000 and reduced the par value from $100 to $25.
The new
stock was distributed as a 100% stock dividend.
V. 104, o. 1390.
LATE DIVS.—
'12.
'13.
'14.
'15.
'16.
'17.
'18.
'19.
6
6
6J
7
13
32
36
text
1
4
4
7**
42*4
32
April 1917 declared a 100% stock dividend.
In Jan. 1918 paid $3 each
per share on the new $25 par value shares.
In April, July and Oct. 1918
paid $2 50 per share (10%).
On Dec. 31 1918 paid $1 50 per share (6%).
April 1919 to April 1920 paid $1 25 quar.
EARNINGS.—For year ending Dec. 31 1917 (see V. 106, p. 1463.)
Cal. Year—
Gross.
Net.
Dividends.
Surplus.
1917
$6,506,506
$4,604,390
$2,400,000
:12,204,390
1916
6,847,670
6,345,731
1,575,000
4,770,731
1915
2,827,328
2,470,944
573,914
1,897.027
Regular, per cent
Extra
Pres., W. O. Skinner; V.-Ps., F. C. Nichols and S. M. Stone; V.-P. &
Treas., W. H. Penfield; Sec., A. L. UlricJb.
Office, Hartford, Conn.—(V.
106, p. 1124, 1463, 2013; V. 107, p. 2479; V. 108, p. 1062, 1392.)
^
COLUMBIA OAS & ELECTRIC CO .—(See Map.)Incorporated InWest Virginia In Sept. 1906. and, in conjunction with the sub-companies
below, controls (compare V. 103, p. 1324):
(a) The gas business
Cincinnati and In 13 municipalities in Hamilton County, Ohio, and
electric business in Cincinnati and 14 adjoining Ohio municipalities!
named
In
the
(b) the electric-light and power business In 14, the gas business In 10 and the
water-supply business in 3 communities on the Kentucky side of the Ohio
River opposite Cincinnati;
(c) a 66-mlle system of electric street railways
operating exclusively In Covington, Newport and other of said Kentucky
municipalities and connecting the same with Cincinnati;
(d) a 183-mile
system 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 255,009 acres of land In Southwestern West Virginia and Eastern
Kentucky, with above-mentioned municipalities in Kentucky and Ohio.
Also 51% of the $30,000,000 stock of United Fuel Gas Co. (see below).
Purchase of 30,000 shares of pref. stock of Cincinnati Gas Transportation
Co. from Cincinnati Gas & Electric Co.
See V. 110, p. 80.
STOCK.—Authorized and outstanding, $50,000,000.
Shares $100.
In July 1912 a syndicate with A. B. Leach Sc Co. at the head purchased a
majority interest.
V. 95, p. 178.
Listed on New York, Cincinnati and
Pittsburgh Stock Exchanges.
Federal Taxes), Calendar Years.
1917.
1918.
383, 881.)
In
REPORT.—For cal. year 1919 in V. 110, p. 761, showed:
1919.
19i8.
1917.
Total income
Net income
p.
COLT'S PATENT FIRE ARMS MANUFACTURING! CO.—ORGAN¬
IZATION.—Incorporated in Connecticut in 1855.
Manufactures revolv¬
ers, automatic pistols, machine guns and carriagos.
Plant at Hartford.
$9,529,496
2,436,060
7,521.833
Pres., S. O. Dobbs, of Atlanta, Ga.;
$12,892,568 $15,047,665 $12,345,994
2,672,895
2,572,105
2,328,258
10,314,727
12,109,420
9,715,892
See full official statement made to N. Y. Stock Exchange in Sept. 1916.
V. 103, p. 1304.
Also for United Fuel Gas and Cincinnati Gas & Electric
Co.
i. 103, p. 1133, 1414.
DIVIDENDS.—An Initial dividend of 1% was paid on
the $50,000,000
^COLORADO
1917 to Nov. 1919, 1% quar.; Feb. & May 15
1920, 1*4%.
*
BONDS.—The company has an authorized issue of $25,000,000 1st M.
5% bonds, of which $21,113,000 have been certified and issued. $7,336,000
ware retired to
Oct. 1 1919, leaving outstanding $13,777,000 (including
73.
$2,271,500 in treasury), of which the Union Gas & Elec. Co. owned $22,000
V. 106, p. 1140; V. 93, p. 1467; V. 101, p. 49.
Accounts payable as of
Dec. 31 1919, $493,431.
For debentures of 1913 see V. 96, p. 1631, 170.
Gallons sold
—
Chairman, C. H. Candler,
Sec .-Treas..
William
and
Candler.—(V.
110.
p.
874,
1524.)
«
FUEL &
IRON CO.—A "Colorado oorDorationj formed
Oct. 21 1892.
Re-chartered Oct. 1912.
V. 93, p. 1728.
In June 1903
Rockefeller-Gonld interests assumed control,
v. 76,ip. 1410;
V. 98, p.
1159.
Annual capacity of
finished steel products is 550.000 tons.
v.
p.
561; V. 75, p. 1149; V. 79. p. 736; V. 62. p. 461; V. 105, p. 1211;
V. U)8, p. 483.
Industrial plan, V. 109, p. 581.
Under the reorganization plan of 19G3 (V. 77, p.
2037, 2282, 2341; V. 79,
1267) the Colorado Industrial Co., whose entire capital stock is
owned, created an Issue of $45,000,000 consol. first mtge. guaranteed bonds
(see below: also full statement in V. 80, p. 1726; V. 83, p. 378).
p.
736,
DIVIDENDS.—Dividends
on
pref. In full to Feb. 1903, then none
till
July 1912. 2*4%; Jan. 1913. 2*4%.
Mar. 20 1913, 35% account 74% ac¬
cumulated dividends; July 1 1913, 4%; Jan. 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 1920, 8%
p. a. (2% quar.).
V. 103, p. 63, 2081.
An initial dividend of 3% was declared in July 1917 on the $34,235,500
common stock, payable %/i of 1% on July and Oct. 25 1917 and Jan. and
April 25 1918; July 1918 to May 1920, *4 of 1% quar.
V. 105, p. 74.
BONDS.—The'Col. Ind. guar. 5s ($45,000,000,authorized Issue) cover all
the property of that company and,by supplemental mortgage of 1913. the
read estate transferred to the Col. Fuel & Iron Co. and entire issue of securi¬
stock May 15 1917; Aug.
REPORT.—For 1919, in full, V. 110, p. 1411:
■
Consolidated Income Statement (Including Subsidiary Companies).
1919.
1918.
1917.
Other income
Gross
Calendar Year
1919.
1918.
Years
end.
1917.
June 30—
1916.
Total gross earnings
Total net income
$34,405,218 $48,223,575 $40,004,887 $25,626,605
$3,725,055
$8,101,110
$9,019,602
$4,971,077
Interest, taxes, &c„...
4,302,701
5,369,064
5,040,133
2,769,906
Preferred dividends
160,000
(8)160,000 (38)760,000 (30)600,000
Div. on com. stock..(3%)1,026,993 (3)1,026,875 (3)1,027,065
$8,013,715
income
4,050,976
705,339
Accrued rentals, &c
Fixed charges C, G. & E
Co
Surplus
-
Dividends paid
Results
Gross.
$7,544,810
3,632,262
713,350
LEADINQ
Three Months to March 31—
Gross receipts.
Net earnings
Total income.
Surplus, after interest, taxes, &c
OFFICERS.—Pres., J.
$1,545,171
$2,192,404
1920.
1919.
$1,601,171
1918.
$10,369,601 $10,071,785 $11,931,230
987,720
940,401
2,348,280
1,106,213
1,078,632
2,480,270
420.568
401,384
1,724,050
F. Wei born; Vice-Presidents, Starr J. Murphy,
J. Chilburg, 8. G. Pierson and J. B. McKennan; Sec., Fred Farrar; Treas.,
S. G. Pierson.
717,266
$3,199,198 $2,933,363
(4%)2,000,000 (4)2,000,000 (3)1,500,000
$2,233,220
1,768,082
$653,486
494,413
$1,237,325
1,062,764
Surplus.
$1,649,381
1,199,730
CONTROLLED PROPERTIES
(Cin. N. & Gov. Lt. Sc Traction, see "Electric Ry.
Section ').
CINCINNATI GAS TRANSPORTATION CO.—A West Va. corporation,
having capital stock of $3,000,000 5% pref. and $2,000,000 com. stock and
outstanding $2,882,000 5% 1st M. bonds. (V.88. p. 1375.) Owns 183 miles
of steel pipe line, running from the Columbia company's natural gas field
In S. W. West Va., connecting with Covington and Newport, Ky„ &o.t
and Cincinnati and surrounding towns.
Leased by the Columbia company
for 30 years. Rental, all maintenance charges, taxes, &c., bond Int., sk. id.
of $20,833 1-3 monthly beginning Aug. 1 1911. and divs. on common stock
at 10% per annum. The pref. stock Is to receive a div. of 5% per annum,
after all Transportation bonds have been canceled. V. 86, p. 1532.
CINCINNATI
the $5,000,000 6%
COMPANIES.—The Columbia Company owns
preferred and $10,000,000 common stock and all
all of
of the
$375,000 dividend certificates of the Union Gas & Electric Co. of Cincinnai
(V. 89. p. 230; V. 103. p. 1046), which operates, under a 99-year lease, the
properties, &c., of the Cincinnati Gas & Electric Co., with exclusive gas
electric privileges in Cincinnati and suburbs. V. 83, p. 274, 892, 1231;
1375; V. 95. p. 752; V. 97, D. 53, 240.
The Union Gas & Electric
owns $22,000 first mtge. bonds of the Columbia Co., these bonds
being deposited as part of the collateral under the guaranty fund of the
Cincinnati Gas Sc Electric Co.
V. 100. p. 232; V. 104, p. 365, 562, 1063,
1266.
New steam electric plant capacity 50,000 k. w., was completed in
June 1918.
V. 106, p. 2652.
Rates in Cincinnati, V. 105, p. 610, 719,
1000, 1901; V. 106, p. 2764; V. 107, p. 612; V. 110, p. 1429.
Regarding
ana
Balance, surplus—def.$1,764,640
$7,165,117
3,514,488
$3,257,40t>
for Three Months ended March 31.
Net.
Oth.Income. Deduc'ns.
$4,090,788
3,381,441
1920
1919
ties of subsidiary cos.
named, viz., $4,500,000 bonds and $100,000 stock of
Gol.&Wyo. Ry.; $3,000,000 Rocky Mtn. Coal Sc Iron stock and $331,200
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.
V. 97, p. 53, 630.
Of tne total of $37,382,000 Col. Ind. 1st 5s outstanding March 1 1920,
$4,867,000 were held in treasury of Colorado Fuel & Iron Co.
REPORT.—Report for 1919, in V. 110, p. 1182, showed:
$11,950,272 $11,538,772 $10,861,331
5,579,340
5.220,794
5,704,050
1,965,470
1,944,323
2,309,665
Gross earnings
Net earnings
V. 88, p.
Co.
contract with
U. S. Government In Aug. 1918, see above.
statement above.
As to Cine. Gas & Elec. Co. see separate
162
INDUSTRIAL STOCKS AND BONDS
[VOL. 110.
May, 1920.]
INDUSTRIAL STOCKS AND BONDS
MISCELLANEOUS COMPANIES
[For abbreviations, Ac., see notes on first page]
Date
Columbia Graphophone Mfs Co.—
Common 1,500,000 shares no par value
Preferred stock 7% cum $15.000,000 call 110—Columbia Graphophone Factories Corp. 1st M $5,000,000
due $125,000 yny 1921 to 1934 call 102)4— MeBaxxxx
Columbus (O) Gas & Fuel Co—See Ohio Cities Gas Co
Commercial Cable Co—IstMdno deb stk)$20.00d.000g.F.c&r
Commonwealth Edison—Stock authorized $60,000,000..
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
None *1,004,631 sh. See
$100 $10,584,841
1919
Cqmpating-TabulatiniE-RecordinKCo—Stk (200,000
1897
$
105--Gz
Computing Scale Co of Amer coll
1908
see
See text 4 in 1919
&c
600
6,123,000
100
These properties embrace 66 miles of track, a power house of
5,950 h. p. supply, the electric railway, and about 8,938 electric consumers
and 125 miles ofpipes for distributing gas to 26,831 consumers.
Union Light, Heat A Pow. Co. of Covington notes. See
V.106, p.717, 827,
UNITED FUEL GAS CO.—Owns gas rights on over 802,000 acres
(also
oil rights on about 438,000 acres of
same), located In W. Va.. Ky. and
Ohio.
With about 1,500 miles of pipe line,
compressors, Ac., supplies
direct in about 50 cities including Charleston, Huntington, Ravenswood, Clendenin, Spencer, Ripley, W. Va., Ironton and Portsmouth,
Ohio, and Ashland and Gatlettsburg, Ky.
F
of gas to Columbia Gas A Electric
Co., Ohio
Gas A Electric Co. and Central
Kentucky I
mouth (O.) Gas Co.
Population served directly about 110,000;by other
companies using its gas wholly or partly about 1,800,000.
V. 106, p. 1140.
The directors on April 8 1920 voted to increase the
capital stock from
$10,000,000 to $30,(XX),000, and declared a stock dividend of 200%; also a
quar. div. on the new capital stock of 4% in cash, payable May 10 1920.
1915-16 United Fuel Gas Co. retired all old bonds and made
a
new
$15,000,000 1st M. under which $11,979,000 1st M. 6s 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. 105, p. 711.
DIRECTORS.—Chairman, P. G. Gossler, New York; Pres., A. B.
Leach. New York; Vlce-Pres'ts, W. Y. Oartwright and W. W. Freeman,
Cincinnati; T. F. Wickham, Beverly Bogert, J. M. Hutton, O. P. Taft,
Cincinnati, O.; Henry Seligman, Frederick Strauss, John W. Herbert,
Wm. P. Philips, New York City; Geo. W.
Crawford, Pittsburgh; H. A.
Wallace and R. G. Altizer, Charleston.
Office, Charleston, W. Va.—
(V. 110, p. 468, 1411, 1429, 1529, 1751.)
COLUMBIA
ORAPHOPHONE
MFG.
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,
V. 106, p. 1037, 1128, 1463.
Products, Columbia Graphophones and records and dictaphones.
See
V. 108, p. 2024 as to Col. Graph. Factories of Bait., also guaranteed bonds
below.
CAPITAL STOCK.—By plan of reincorporation dated Dec
14 1917
(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
being entitled to only one vote for each 10 shares.
V. 109, p. 581.
Com¬
mon stockholders of record May 3 1920 were offered the
right to subscribe
to additional common stock at $27 50 per 6hare to the extent of
20% of
holdings.
V. 110, p. 1751.
The pref. stock has a sinking fund.
V. 108,
p. 2024.
In May 1919 sold $7,200,000
pref. stock to provide for (a) paying off
$1,936,800 1st M. 6% bonds, called for payment Dec. 1 1919; (d) retiring
$2,200,000 serial 6% notes, called aad paid Nov. 1 1919 at 102H; (c) sup¬
plying additional working capital.
V. 108, p. 2024; V. 109, p. 1612.
DIVIDENDS.—On
new pref. paid l%% quar. from July 1918 to
Apr.
$1 75 quarterly from July 1918 to Jan. 1919.
On
1919 paid $2 50 in cash and 1-20 of a share in common
stock.
In Oct. 1919 and Jan. and April 1920 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.
V. 109, p. 2174, 778; V. 108. p. 881; V. 106. p. 2652,2760; V. 107, p. 908.
common
April and July 1
GUARANTEED BONDS.—In Nov. 1919 the Col. Graph. Factories
Corp. of Md. had been organized to expend $5,000,000 in the establishment
of new plants at Baltimore and Toronto and made an issue of $5,000,000
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
of exchange V. 110, p. 1293.
Offering of preferred stock of Factories
corp., v. no, p. 1751.
mm
REPORT.—For 1919 in V.
110,p. 1181, showed:
Net
Bd., Ac., Deprec'n,
M
Calendar
Year—
Balance,
Earnings.
Interest.
Ac., Res.
Dividends.
Surplus.
1919
$7,793,044
$262,960
$514,569
$2,435,402 x$l,l88,800
1918
1,939,513
503,715
616,336
611,279
208,182
x After deducting $3,391,313 reserve for 1919 Federal taxes.
-
OFFICERS.—Pres., Francis S. Whitten; Vice-Pres., Wm. M. Johnson!
Wm. Woddrop; Vice-Pres. A Gen. Mgr., H. L.
Vice-Pres. A Treas., C.
Willson; Sec., C. W. Cox; Asst. Sec. A Asst. Treas., F. J. Ames, and John J.
Brands.
N. Y. office, Woolworth Bldg.—(V. 109, p. 2266; V. 110, p.
1181, 1293, 1751.)
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¬
ated Sept. 17 1907 as a consolidation, per plan in V. 85, p. 162, 724.
Later
in 1913, acquired (by consolidation) Cosmopolitan Electric Co.. Franchises
expire 1947. Controls entire electric lighting A 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.
per k. w. hour.
Has seven generating stations and 52 substations, the total capacity,
including storage batteries and purchased energy, being 865,000 electrical
h. p.
On April 1 1920 was supplying an equivalent of 18,961,720 50-watt
lamps, compared with 12,244,000 as of Dec. 31 1915 and with 4,138,000 as
of Sept. 30 1908.
It is also supplying electrical energy amounting to 360,000
h. p. to street and elevated railways and other public service corporations
under contracts running from 5 to 25 years.
Number of customers on
March 1 1920 about 421,000.
New generating station, V. 110, p. 1086.
DIVIDENDS.Also 10%
----
1907. 1908. *09. 1910.
1H
5H
6
6(Q-F)
paid hx stk. to holders of
roc.
1911. 1912. 1913.
6H
7
7H
Oct. 4 1913.
BONDS.-—Additional Commonwealth 5s of 1908
are
ceeding 75% of cost of extensions and improvements.
1 2397
F L A T Co A Office
1 1920 2% Checks
1 1943
from
Illinois Tr
1 1943
A
do
I
N Y
co's
S
office
Bk, Chic
Q—J
J
A
A
&
Apr 10 "20.
J July 1 1941
do
O Oct
1%
Guaranty Trust Co, N Y
Columbia Trust Co. N Y
25 1921
Q—M
June 1
*20
1% New York
on or
1914-May'20.
8(2%Q—F.
V. 97. p. 447. 889.
Issuable for not ex¬
Redeemable at 110
after Sept. 1 1918.
V. 79, p. 214: V. 83.
p.
326. V. 85.
p.
163; V. 88.
p. 55, 103; V. 90, p. 40; V. 100, p. 1351, 1440.
A block of $4,000,000 of
these bonds was sold in Feb. 1919.
V. 108, p. 83, 786, 969, 975.
Midland
Counties Coal Co., V. 107, p. 1007; V. 104, p. 2238; V. 105,
p. 74.
REPORT.
Calendar
Report for year ending Dec. 31 1919, V. 110, p. 1086:
Gross
Net
Dividends
Balance,
Income.
Earnings.
Deductions.
(8%).
Surplus.
1919
$30,366,426
$8,096,589
$3,249,451
$3,942,340
$904,798
1918
26,505,136
7,068,021
2,131,550
902,647
4,033,824
1917
25,351,585
6,808,627
2,131,550
3,667,352
1,009,725
1916
22.863,118
6.498,807
2,099,393
3.667,112
732,301
Pres., Samuel Insull; Sec. A Treas., Edward J. Doyle.
Office, Chicago,
Year—
jll.—(V. 110,
p.
766, 1086.)
COMMONWEALTH PETROLEUM CORP., N. Y.—ORGANIZATION
—Incorp. in Delaware early in 1919, and acquired a majority of the capital
stocks of the Western Union Oil Co., Unitea Western Consolidated Oil Co.
and the W. D. Head Drilling Co.
Properties owned and leased, either
directly or through its subsidiaries, are as follows:
12,866 acres in Cali¬
fornia, 15,000 acres in West Virginia, 13,900 acres In Texas, 9,340 acres
in Wyoming and a half Interest in 4,700 acres in Texas.
On Oct. 31 1919
there were 12 wells in process of drilling and 83 producing wells.
In summer of 1919 was interested with others In the organization of the
Union Oil Co. of Del., for the purpose of acquiring a dominant if not a
controlling interest in the Union Oil Co. of Calif., Columbia Oil Producing
Co., Ac.
See both Union Oil Companies, below.
In Nov. 1919 the Union
Oil Co. of Del. offered to give in exchange 1 1-5 shares of its own stock for
each share of Commonwealth Petroleum.
Over 85% of the outstanding
stock of the Commonwealth Petroleum agreed to accept this offer as of
Jan. 1 1920.
V. 109, p. 1990.
STOCK.—Total auth., 3,000,000 shares, no par value.
In Sept. 1919
holders of the 200,000 shares, of no par value stock were permitted to sub¬
scribe at $40 a share for loO.OOO additional shares.
See preceding para¬
graph for exchange of stock for Union Oil Co. of Del. stock.
„
,
„
DIRECTORS.—Pres. Charles H. Schlacks; Charles H. Sabin, Pres.
Guaranty Trust Co., N. Y.; Eugene P. Whitcomb, Pres. Union Natural
Corp., Pittsburgh, Pa.; Thomas W. Phillips Jr., Pres. Phillips Gas A
Oil Co., Butler, Pa.; W. E. S. Griswold, 26 Bway., N. Y., director Mechan¬
ics A Metals Bank and Peerless Truck A Motor Corp.; Bernard Guggenhiem, 14th St. and Irving Place, N. Y., Pres. Essex Textile Co., Inc.; W. J.
Broder, Gen. Mgr. of the Commonwealth Petroleum Co.; Henry Lockhart
Jr., 60 Bway., N. Y.
N. Y. office 120Bway.—(V. 109, p. 75, 175, N9*
681, 983,1082,1894.1990.)
*
*
Gas
COMPUTING-TABULATING-RECORDING CO.—Incorp. in N. Y.
plan in V. 93, p. 48, of International TimeRecording Co., Tabulating Machine Co. 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 1918. $227,212.
Also owns a large part of the stock of International Business Machines
Co.. Ltd., of Toronto, a Canadian merger of Nov. 1917.
V. 106. p. 193.
CAPITAL STOCK.—The stockholders voted Mar. 161920 to change the
Treas.
Office, 50 Broad St., N. Y.—(V. 110, p. 973, 1180, 1207. 1293
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 or stock owned.
in 1911 as an amalgamation, per
DIVIDENDS.—1% paid April, July and Oct. 10 1913.
In 1916 and
again In 1917 4% was declared, payable 1 % quarterly.
Jan. 1918 to Apr.
1
R^ORT^i'orcal? year*1919 In
V. 110, p. 1180 and 1207, shows:
1918.
1919.
Net
(sub. cos.)
$2,496,945
Accrued int. on 6% bds_
370,271
Dividends (4% p. a.)._.
419,224
Federal taxes
x666,000
earns,
Balance, surplus
x For 1918.
$1,041,450
$2,134,337
346,531
419,222
1917.
1916.
$1,915,747
$1,551,227
347,389
418.962
344,373
418,292
282.963
$1,368,684
$866,433
$788,662
DIRECTORS.—Geo. W. Falrchild (Chairman and V.-PA, Thomas J.
Watson (Pres.); J. B. Stanchfield, Charles R. Flint, Oscar L. Gubelman,
Samuel M. Hastings, John W. Herbert, Clarence P. King, Roliin S.
Woodruff, O. D. Smithers, Charles Smith, Geo. I. Wflber, Joseph E.
Rogers, Drury W. Cooper and A. Ward Ford.
J. S. Ogsbury is Sec. &
Treas.
Office. 50 Broad St., N. Y.—(V. 110, p. 973. 1180, 1207, 1293.
1852,
2079.)
CONGOLEUM CO..
Inc.—(V. 109, p. 274, 374, 778.)
CONSOLIDATED CAR HEATING CO.—Supplies steam and hot water
apparatus lor heating railway trains and electric heaters lor street oars, Ac.
V. 70, p. 232.
Stock, $1,250,000; outstanding, $1,130,400; par, $100.
DIVS./ *04. *05. *06. '07. *08-*09. *10. *11. *12. '13. *14. '15.
1916-1919
centi
6
4
3
3
None 3H
6
6H
7
5
2Ut
None
Pres., Claude O. Nuckols, 413 N. Pearl St.. Albany.—(V. 101, p. 2147.)
Per
COMMERCIAL CABLE CO.—See Mackay Cos. and V. 88. p. 999.
Percent
1 20 1M% Paid by check
N Nov 1 '21 to '34 New York
Apr 15 '20 $1.50
3.910,000
gas
New
Places Where Interest an<$
Dividends are Payable
text.
1620).
1920.
Is
113.500
90,000 sbs
None
KENTUCKY PROPERTIES.—Cincinnati Newport A Covington Light
In
Maturity
See text
None
A Traction Co. controlled under a 90-year lease. (See "Electric
Railway
Section" and V. 84, p. 1489. under Columbia Gas A Electric
Go.; V. 105,
p.
Apr
t
tr red 105
Additional stock offered to shareholders in May 1920;
&
and
See text
Q—J
Q—J
M
None
19ll
Last Dividend
•Jan
20,000.000
4 v
Q-J
50,422,800 8 in 1919
Q—F
May
8,000,000
MAS June
38.631.000
5 8
MAS June
g
1 000
1.000
Consol Cigar Corp—Common stock, 90,000 shares
Preferred (a A d) 7% cum (see text) auth $5,000,000 call 110
*
£
&
100
1898
shs auth)
Sink fd gold bonds (excl $628,600 In treas) call at
text
7
1,750,000
...
Commonwealth Eleo 1st MfEqually sec by Coral NCxxxc*
Commonwealth Ed 1st Ml Electric mtve of 1898«
xx
Commonwealth Petroleum Corp—Stock 3,000.000 shares
I
163
14
CONSOLIDATED CIGAR CORP.—ORGANIZATION .—Incorp. May
1919 in Delaware and acquired the properties and 27 factories of six
\J f
Davis,
Tampa,
Fla.
In
Oct.
D«pJliUOI
A#
purchase the O. J.
1919
3.
1463.
Plants at
alphia, Wilmington,
vluvluuOH
Rapids, Traverse
-
6ity,
„
Manishee and other cities.
.Harrisburg, Grand
These concerns, it is
stated, manufacture over 300,000,000 cigars ner annum.
STOCK.—No mortgage without consent of 2-3 of Pref.
stock.
i
Annual
$80,000 beginning June 1 1921 to be applied
stock at 110. Also callable as a whole at 110.
In case of failure to pay 3 successive quar. divs.,, pref. stockholders shall
have right to elect a majority of directors.
An initial dividend on pref. at
the rate of 7% per annum for the 3H months ending Aug. 31 (about $2)
was
paid Sept. f 1919; Dec. 1919 to June! 1920, 1% % quar.
Initial div.
of $1 50 on com. stock paid April 15 1920.
V. 109, jp. 175.
Res., 4 Cases
Output of Cigars-7Z7XNet
Cases (a). (b). (c)
1917.
1918.
1916.
1917.
1918.
and (d), above. 308,959,043
258,468.915^720,503 $543,159 $481,713
OFFICERS.—Chairman of Board, W. A. Tucker; Pres. 8am. Y. Gilbert;
1st Vice-President D. Emil Klein; 2nd Vice-Pres.-W. A. Tucker and Sec.Treas. Louis Cahn.
Gen. Office, 81st St. and East End Ave., N. Y. City.
—(Y. 110, p. 1092, 1190.)
cumulative sinking fund of
for redemption of the pref.
[Vol. 110.
INDUSTRIAL STOCKS AND BONDS
Date
Par
Amount
Rate
When
pane]—
Value
Outstanding
%
Payable
and Maturity
Consolidated Gas (N Y)—Stock (see text) —
Secured con v. bonds $25,000,000 red 8c conv (see text) cx
Bonds of Companies Controlled
XN Y Ed-N Y G A E L H A P 1st M $15,000,000 g-Q.c'Ar
xPuroh money M $21,000,000 g sub; to call to Feb '02-Ce.o*
xEdlson Eleo lit N Y 1st cons M $15,000,000 gold
(i.c1
xUnlted Electric Light A Power 1st M $5,370.000
Un
■Equitable Gas Light cons (now 1st;
iNY & East River Gas lrft Mg
■First cons M ($5,000,000)
M.Cel Assumed by 1
(i.c*)
goid-.CK.o*/
New Amst
Gas Co.
)
1898
1899
1,000
1895
1,000
1,000
1904
1,000
1904
1,000
1.000
1898
1897
Col.xc*
1897
$10,000,000 g am (see text) Eq.xc*
10-year notes
_x
N Y & West L Gen M $10,000,000 gold guar red (text).Cex
Debentures $2,500,000 gold guar prln & lnt r< J at 110.x
Nor Westchester Ltg Go 1st Cons $1,000,000 call 105—E.c*
Sing Sing Electric Lighting bonds
Peeksklll Ltg 8c RR (controlled co) bonds, see "Elec Ry Sqp"
N Y 8c Queens El L 6c P 1st M $2,500,000 gold
— Unx
N Y & Queens Gas Go 1st & gen M $1,000,000 red 110—xc*
1900
Westch Lighting 1st M
First collateral trust
1890
1905
1896
1.000
1900
1004
other gas companies and of
N. Y. City. V. 78, P. 105.
a law was passed reducing the price In N. Y. City to 80 cents
1,000 cublo ft., beginning May 1 1906, except In outlying districts
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.
V. 108, p. 272,
483, 881,1723, 2025, 2244; V. 109, n. 1702,2360; V. 110, p. 662,1751.1976;
V. 88, p. 103, 161, 233, 292, 297, 378, 689; V. 90, p. 301.
The subsidiary
N. Y. Edison Co. reduced its rate for electricity from 8 cents per k. w. h.
to7^ cents from Jan. 1 to July 1 1916, thereafter 7 cents.
V. 104, p. 2645.
Application for new gas standard, V. 105, p. 1712, 1806.
4 i
In 1906
V. 82, p.
(see V. 106, p.
Int.
paid
on
fund.
on
see
"y"
392)-y7.141.372
$7,235,772
Tefcal net income
Divs.
$94,400
business
Ast. L„ H. & P. Co. gas
Dlv8. and Int. received
1920.
6,695,957
6,930,108
6,700,383
1
$9,234,236 $10,147,620 $10,222,603
stock
& East River and
is
$13,000,000
Par, $100.
of com. stock
The Consolidated Ga
$12,154,592 com. and $8,991,475 pref. stock.
V. 70, p. 897
948* 1052. 1197, 1252; V. 80, p. 1855, 2224.
Cal. Year—
Cross.
Net.
Other Inc.
Int., Ac. Sal.sur.or def
1918
$3,945,397
$755,265 *$91,393
$1,407,535 def.$560,877
1917
3,734,555
1.068.600
80,828
1,391,491 loss 242,063
l»ie
3.546,114
1.370.250
70,165
1,368.884 sur. 71.531
owns
—
.1
.
.1
.<
.] -91(2)
?uar.). V.V. 104, p. 2347, 2645; V. V. 92, p. 1377. Electric rates reduced
1917, 100, p. 1353, 900, 984; 106, p. 2455.
une
"BONDS.—The first 5s of 1898 ($15,000,000) were secured by a first lien
the company's power plant and other property owned and pledge of vari¬
securities; list see V. 68, p. 773, 824,1025; V. 76, p. 268.
The 4s of 1899
are secured by a purchase-money lien on the former Edison Eleo. Ilium,
on
ous
property, subjeot to bonds of 1890 and 1895 and by a second mtge. lien
the remaining property. V. 72, p. 939, 1038; V. 81, p. 35.
Real estate
mortgages, $649,512.
on
REPORT for year ending Bee. 311919 showed:
Dividends
Other
Int., ReIncome, serves, Ac.
Years.
$
$
$
1919-28,793,272 9,104,192 1,923,351 3,781,406
1918-25,339.203 7.332.504 1,885,888 4,034,646
1917.25,688.009 8,755,035 1,828,317 6,084,115
Operating
Net, after
Revenues.
Taxes. Ac.
$
(3)
NEW
YORK
MUTUAL
GAS
Balance,
Paid. (7%)
Surplus.
$
$
4,616,178sur.$2,629,959
4,616,178
8ur.567.568
4,616,817
def.$117,580
LIGHT CO.
.
•
•
Stock, $3,409,700, $1.886.200 nei^ by Cons. Gas Co. Par $100. Favorable decision, V.95.P.1687.)
Incorp.ln N. Y. in 1866 under special charter.
J Jan
1 1945
National City Bank.
J
&
J Jan
1 1948
5 g
5 g
J
&
M
A
5g
M
A
N May 1930
N Nov 1 1927
5 g
5
J
A
D
Dec
1 1950
J
A
D
Deo
1
1920
Columbia Trust Co. N Y
10,000,000
2.500,000
618,000
25,000
4 g
J
A
5 g
5 g
J
A
J July 1
J July 1
2004
1954
Central Un.Tr. Co, N
do
do
J
&
D June 11955
5
F
8c
A Feb
2,350,000
816,000
5 g
5 g
F
8c
F
8c
A Aug 1 1930
A Aug 1 1934
580.000
N Y
National City Bk, N Y
Nat City Bank, N Y
1927
J July 1
1 1926
Y
Trust Co, N Y
Bankers Trust Co, N Y
National City Bk. N Y
Equitable Trust Co,
N Y,
Y
Equitable Trust Co
,
Cent Union Tr Co, N
Lincoln Tr Co. N Y
STANDARD GAS LIGHT CO.
Owns 202 miles of gas pipes north of
(4)
13th St., N. Y.
$4,955,700 common and
$4,293,600 preferred.
1912 to*16. 1917
(5)
UNITED
ELECTRIC LIGHT
4
0
2
6
0
6
& POWER CO.
Btock, $5,299,684 (of which $1,642,238 pref.). mostly owned.—(V.
185$; V. 87, p. 1535; V. 98. p. 1529; V. 100, p. 1253; V. 103, p. 1690.
(6)
80.
CENTRAL UNION GAS OO.—(V. 100, p. 1253; V. 107, D. 600.)
(7) NORTHERN UNION GAS CO.—(V. 100 p. 1253; V. 107, p. 600.)
(8) WESTCHESTER LIGHTING CO. (N. Y. A Westchester Light Co.
—Supplies gas and electricity in Westchester County north of New York
City. See V. 71, p. 1023, 1175. The Consol. 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. stock,
all the $500,000 PeekskiU Lighting & RR. common stock and 50% of the
pref. stock.
V. 87. p. 017; V. 89, p. 108, I486; V. 96. p. 731.
BONDS.—N.
Y.
$10,000,000
Lighting
Westchester
8c
Mtg.
Gen.
bonds, subject to call at par and int. (V. 79, p. 1706, 1957), are guaranteed
prln. 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
to retire N. Y. 8c Suburban 5s)
Bonds (V. 81, p.
New
York
A
are:
Interest.
1609)—
Suburban Gas 1st
M,\
./
5 g M & Sx
Outstanding.
Maturity.
a$230.000
Mch. 1 1949
1 '09
5 M A N*
b250,000
J&Dx
335,000
5
1 1929
May
June !
1938
(b) V. 68. o. 824; V. 70. p. 844.
(8a) NORTHERN WESTCHESTER (N. Y.) LIGHTING CO.—Or¬
ganization.—Incorporated in New York May 1905 as a consolidation of
companies operating In Osslning, Croton, Briarcliff Manor, &c., in West¬
chester County, N. Y. (V. 81, p. 208).
The entire capital stock, $804,000I• owned by the Westchester Lighting Co.
BONDS.—Authorized
1st consols.,
$1,000,000; balance unissued is re¬
served for additions, Ac.—V. 89, d. 1486
(9) NEW YORK 8c QUEENS ELECTRIC LIGHT 8c POWER CO.—
Supplies Borough of Queens outside of Rockaway. See V. 72. p. 1039.
The Consolidated Gas Co. owned Dec. 31 1910 $1,044,000 common and
pref. stock; outstanding, $1,250,000 each.
V. 96, p. 1492.
on pref.. 2^%, paid Dec, 1 1904; 1907 to 1911. 5%; 1911, 4H%\
1912 to 1919. 1% Q.-M.
V. 92, p. 1439; V. 100, p. 1253.
$819,800
Div.
REPORT.—For year
Cross.
1919:
Net.
Interest.
Dividends.
Balance.
$656,917
579,943
628,734
$307,897
282,274
270,878
(4%)$50,000
(4%) 50,000
(4%) 50,000
sur.$299,019
sur. 247,670
Year—
$2,849,237
1918
2,302,057
1917
2,072.697
—V. 100, p. 1253.
-
sur.
307,855
(10) NEW YORK 8c QUEENS GAS CO.—Supplies Flushing, College
Point, Whitestone and Bayslde, N. Y.
Stock, $600,000.
In May 1913
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, Ac.,
the Consolidated Gas Co. obtained authority to
f55,818; bad. def., V.-P. & Mgr., M. H.gross, $303,896; bai. sur., $3,499,
$21,741. In 1917, Spear; Sec., Wm. Raynor; Treas.,
'res., M. Taylor;
NEW YORK EDISON COMPANY.
^Organized May 1 1901 as a consolidation of the N. Y. Gas & Eleo. Light,
Heat A Power Co. and the Edison Eleo. 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. o. 1915; V. 84. p. 219. Stock
outstanding, $65,945,400, of which $05,692,100 owned by Oonsol. Gas Co.
V. 90, p. 502, 773; V. 91, p. 1516; V. 92, p. 191; V. 97. p. 301, 448, 1464.
Quarterly dividends of 1H% were paid from Feb. 1907 to Dec. 1914, both
Inclusive.
In March 1915 the rate was increased to a 7% basis (1H%
Cal.
8c
1919-J
authorized
$10,000,000 of 5% pref., cumulative.
Co.
Guaranty
J
Earnings for year 1918, gross, $4,204,090; net, $1,237,944; other income,
$67,282; charges, $1,187,901; bal., sur.', $117,325, against $367,848 in 19lf
—(V. 100, p. 1173, 1346.)
Eq, Gas Light per plan V. 66, p. 133.
SECURITIES.—The
1170 Broadway, N Y
Centra' Un. Tr. Co,
N
1 1944
(a) V. 68, p. 474; V. 70. p. 844
NEW AMSTERDAM GAS.
1897 and consolidated N. Y.
1 1932
J Jan
& 1, by Am Gas Co
Hudson River Gas & Eleo 1st M
White Plains Lighting 1st M
OFFICERS.—President, George B. Oortelyou; Vice-Presidents, Wal-.
ter JR. Addicks, L. B. Gawtry, O. G. M. Thomas and Robert A. Carter'
Sec., Henry M. Brundaga; Treasurer. Benjamin N. Whitiley; Asst. Sec.'
H. M. Brundage and F. R. Barnitz; Asst. Treas., Benj. Whiteley.
Trus¬
tees, John W. Sterling, W. Rockefeller, Geo. F. Baker, F. A. Vanderlip,
Samuel Sloan, Moses Taylor, W. R. Addicks, Donald G. Geddes.N. F.
Brady, Geo. B. Cortelyou, J. A. Garver, Jas. N. Jarvie, Walter P. Bliss
and Louis M. Greer.
Office, 4 Irving Place.—(V. 110. p. 867, 874, 1751,
1976. 2196.)
Controlled Companies.
Nov.
S Mch
&
g. guar, p
def.$1,292,393
$753,922 $1,667,309 $1,765,244
y Dividends, &c., received from Astoria Lt., Ht. 8c P. Co. are Included
the report for 1918, but not as in previous the company's net earnings.
Incorporated
&
3 yearly
%
6 yearly
3
pref.; none since.
Year—
Gross.
Net.
Interest.
Dividends.
Balance.
1919—
$2,161,934 df.$30,810
$84,239
none
def.$115,030
2,060,680
106,270
71.861
none
sur. 34,409
1,912,010
339.186
70,791
165,976 sur. 102,419
1,823,986
548,919
72.330
407,313 sur.
69,276
Office. 130 East 15th St.. N. Y*.—(V. 94. p. 1630; V. 100. p. 1253.)
stock-(7%)6.994.794 (7)6,987,155 (7)6,987,155(6^)673,761
8c oth. d*t1,533,372
1,493,159
1,493,156
1,719,746
(1)
A
M
J
%.
8
5
0
2
6 y'ly
l'A
%_
8
6
2H 6
0 y'ly
6
In 1917 June, H % on common and 3% on
Surplus
n
J
DIVS. '98. '99. '00. '01. '02-'05.'06. *07-'09. *10.'11.
1915. *
$2,376,753
1,145,467
1916.
Y
Y
5 g
Pref.
$2,086,866
1,130,646
1
N
Guaranty Tru3t Co, N Y
5 g
5 g
5 g
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
Com.
1,169,579
$1,368,699
Central Un.Tr. Co,
1 1995
J July 1 1924
$4,090,100 of the
cloBcribod bolow •
The 6% debentures were convertible Nov. 1 1919 into stock at par;
$568,000 were so converted, leaving $24,278,248 to mature Feb. 1 1920.
On Dec. 29 1919 shareholders authorized an issue of $25,000,000 5-year
secured convertible 7% bonds for the purpose of refunding the foregoing
issue.
Stockholders or record Jan. 3 1920 were offered the right to sub¬
scribe to the new bonds on or before Jan. 17 1920, at par, to the extent of
25% of holdings.
Underwritten by National City Co., New York.
V.
109, p. 1720.
V. 98, 1540, 1463, 1610; V. 99. p. 175i, 1660, 1676; V. 100,
312, 904.
Bonds are dated Feb. x 192J and secured by pledge of $35,oC0,000 par
value of New York Edison Co. capital stock.
Redeemable as a whole only
on and after Sopt. 1 1922 at 102J4 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,Pj^80^)
REPORT.—Year ending Dec. 31 1918. ^
1918.
1917.
1 1949
Organized In 1886.
Increased to $125,000,000
to provide for conversion of $25,000,000 debs.
V.78,p. 1964; V. 98,p.1463.
Application was made in Dec. 1919 for authority to issue $25,000,000
additional stock to provide for the conversion of the new issue of 7% bonds,
Calendar Years—
Guarantv Trust Co, N
Feb
J July
The Consolidated Gas Co. owns $4,796,200 of the
STOCK, &c.—In 1914 the authorized Issue was
Net earns, of gas
1 1948
A
A
J'98. '99. '00. '01-'05.'06. '07-'10.'ll.'12.'13 to Jan. 1920
8
7
30
9 y'ly
7
6 y'ly
8
24
9 yrly
paid extra dividend of 14% to bring dividends for 5 years
ending Dec. 31 1910 to an average of 9% yearly.
V. 95, p. 115.
In 1917
1918 and 1919 paid 4% in January and 5% in July.
Year—Cross Inc.
Net
Other Inc.
Int.
Dividends.
Balance.
$1,504,740 $158,178 $85,500 $18,335 (9%)$308.218 def.$82,875
1,474,435
295.226
64,625
12,390
(9) 309,294 sur. 38,167
ec.
(%)/ *06. '07-09. '10. 1911-'14. 1915. March 1916 to June
5
4 y'ly.
4^ 6 yearly 6X
7% y'ly (1X Q-M15)
t
D Deo
A
T
la July 1912
per
DIVS.
A
F
Since'97 (J. & J.) I
B219; V. 86, V. 107, p. 600. p.Franchise97. p. 240, V. 102, Stock holdings
31 1917, p. 282; V. 92,
257; V. taxation, 301. p. 253.
Since 190.e
905-1
J
4 e
5 g
5
DIV'S.—
organized
of all the
all the eleotrio-llghtlng properties In Manhattan
1964; V. 79, p. 105, 629; V. 83. p. 1414; V. 84.
CONSOLIDATED GAS OF NEW YORK.—This company was
1884 as a consolidation, and In 1899-00 secured control
Nov. 11
1% Office. 130 E 15th St
5g
11996778
1910
1,000
1,000
l.OOOAc
1.000
1,000
1.000
1,000
1.000
gold $20,000,000_Ce.xc'Ar
N Y 4 East River..Ce.xc*
Standard Gas Light 1st M $1,500,000 gold
*c
Union Gas 1st M $ 1,500,000 gold not guar-
Payable
2.188.000
1.000
1894
first cons M
North
are
15.000,000
20.888,000
1,000
1894
1895
)
Dividends
500 &c
Union Gas guar p 41
New Amsterdam
Central
June 15 *20
$100 100,384,500 7 In 1919 Q—M 15
Feb 1 1925
7 g
See text
Q—F
1920
There Interest and
Places
Last Dividend
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, Ac., see notes on first
R. A. Carter.
Office, 88 Main St., Flusihng, N. Y.—(V.
107,
p. 600, 805,
2378; V. 108, p. 272, 2246.
CONSOL. OAS CO. OF PITTS.—See "El. Ry.
Sec." and V. 108, p.686.
CONSOLIDATED IAS ELECTRIC LIGHT & POWER CO. OF BAL¬
TIMORE.—ORGANIZATION.—Incorp. June 20 1906. V. 82. p. 1441.
Has an arrangement with the Penna. Water & Power Co. whereby it con¬
trols the entire power supply of that company in Baltimore and vicinity
excepting an amount reserved for the local traction company.
V. 84, p.
627; V. 85, p. 163; V. 90, p. 377, 1557: V. 91. p. 468, 947; V. 92, p. 464,
the Baltimore County
Wednesday in April.
proceeds of tne $5,000,000 7% convertible notes issued in Mar.
1919, it was stated, will together with additional cash to be furnished by
the
company
provide
$6,000,000, for use in increasing the capacity
1241.
On June 1 1912 leased the electric business of
Electric Co.
V. 94, p. 1386.
Annual meeting 1st
The
of electric power
gas
plants by 40,000 k. w., or 53,000 h. p., and also to extend
plant and holders, gas and electric transmission lines and distribution
systems, and to liquidate temporary loans already contracted for the same.
This financing will provide for
108, p. 1062.
In 1907 all of
the
needs
during
1920.
$2,500,000 Baltimore Elec. Co.
See
below and V.
common
stock was
acquired (through Maryland Securities Co.), 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. 86, p. 112.
In Jan. 1907 purchased the entire stock of the RoIand Park Electric 8c Water
Co. 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 Co. and Howard Co.
Gas was re¬
duced from 80c. to 75c. on Jan. 11916.
V. 101, p. 215; V. 102, p. 253.
MISCELLANEOUS COMPANIES
[For abbreviations, &c.,
see notes on
Par
Amount
Rate
When
Last Dividend
Value
Outstanding
%
Payable
and Maturity
Q—J
July 1 1920 2%
Date
Bonds
first page ]]
Cons Gas Elec Lt & Power of Bait—Capital stock
CoBa
General mortgage $15,000,000 gold (V.103,p.2240)CoBa xo»
Convertible gold notes callable sec by 1st ref mtge at 101H
1st Ref Mtge $100,000,000 g call (text) s f d__
Ba
MBa.c*
7% secured convert notes (closed) call text
United Electric first consol mtge (closed) gold ....-MBa.xo*
Oonsol Gaa consol 1st M g (closed)
MeBa.zc*
Consolidated Gas General (closed) M gold (text)-FBa.xc
$100 $14,607,300 See
1905
1916
1919
1919
J
B55
&
M
8c
7
collat
as
text
5 g
6 g
1.000 al3,845,000
See
8,254,700
100
F~"&~
5,000,000
4,428,000
3,400.000
8,100,000
434 g M
1,000
1904
&c
1,000
1,000
1,000
1899
1889
3,943,000
1,000,000
5,000,000
468,000
5 g
5
g
&
J
5g
&
4 34 g A
&
Leading Guaranteed Issues—
Baltimore Electric M $7,500,000 g red 110 gu p & 1 s f_xc
stock
5%
Pref stock 6% cum guar$700.000
Roland Park Elec & Water Co 1st M $400,000 g gu p & l_x
Consolidated Textile Corp.—Stock auth. 1,000,000 shares,
8 P convertible deben notes call 1023^ (see text)
Me.c*
Consolidation Coal—Stock authorized $50.000,000
First mtge $750,000 gold s f redeem each Jan at 105-Usx
Refunding mtge $7,500,000 auth gold s f red 105 G.xc'&r
Fairmont Coal 1st M gold sinking fund assumed
G.zc»
1st & Ref M $40,000,000 g auth red 1071$ s f_,G.xc'&r*
Convert Oollat gold bonds $8,500,000 red
Eaxc^&r*
Cumberland 8c Pennsylvania RR—See Railroads
Continental Can Co—Common stock $15,000,000
Pref stock (a & d) 7% cum $7,500,000 red 125
a
1907
guaranteed
Oonsol Pow Co secured gold notes guar p & 1 call__CoBa-C*
Three year 6% notes
Pub Ser Big Co 1st M $900,000 g gu p 8c 1 redl05xc* -McBa
1917
1918
500
&c
1915
500
&c
100
1.000
300.000
1907
None
1925
100
1,000
1904
1901
1910
1,000
1.000
1,000
1913
500 &c
The Maryland P. S. Commission Nov. 26 1918 authorized an increase in
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
to 550.
signed repealing monopoly Acts. V. 90, p. 979
STOCK.—Capital stock authorized, $30,000,000; reserved for conver¬
of 1916, $7,727,300.
See below and
1712.
Notes payable Dec. 31 1919.
$1,529,240.
sion of $8,500,000 convertible notes
V. 103, p. 1595;
V. 105, p. 1306,
DIVS.—
On
(1912. 1913. 1914. 1915. 1916. 1917.
common%\ 5
554
634
7
7
754
1918.
8
1919. 19208
text
The dividend ratejwas increased from 154 to 2% quar. (8% p. a.) with
the
April 1917 distribution and so continued till and incl. July 1920.
stock at $110 per share.
Also subject to call by the company, all
part, on any int. date on or after May 15 1919 at 101X % or par and
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 or provision made therefor.
—V. 108, p. 1167.
The $5,000,000 7% Secured Convertible gold notes, Issued In Mar. 1919
for the purposes above stated (V. 108.
p. 1062), are convertible, par for par
at any time, at holders' option, into First Ref. Mtge. 6% Skg. Fd. 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 & Pow. Co., of Baltimore, due Feb. 1 1949.
BONDS, &c.—As to the $15,000,000 Gen. M. 4Xs, see table and V. 103.
2158; V. 80, p. 1731, 714, 1481; V. 88, p. 233; V. 91, p. 41. 1632; V.92.
1376, 1502, 1568; V. 93, p. 1791; V. 96. p. 1704; V. 98. p. 239; V. 105.
p. 1306.
p.
p.
First Refunding Mortgage of 1919.
The
after
lsl
Ref. Mtge. of 1919 will cover all property now owned or here¬
acquired.
Authorized issue not to exceed $100,000,000; Bankers
N. Y., Trustee.
Initial $3,500,000 pledged to secure 7%
$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 110
and int.; (b) next 5 years at 10734 and int.; (c) next 15 years at 105 and int.;
(d) last five years before maturity at 102 and int.
Subsequent series to
bear such interest, mature at such times (not later than Feb. 1 1999) and
Trust
and
be fixed.
(V. 108,
p.
1062,1167,1612,
I
1824.)
Sufficient of the
new
bonds will be reserved to retire, par for par,
(a)
underlying securities of the company and of its subsidiaries, and (b)
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
all
,
ment at 110 on
Feb. 1
1920.
Of the 50-year Gen. 4>4s of 1904 of Consol. Gaa Co.,
$6,100,060 have been
No further bonds can be Issued except
due 1939. V. 78. p. 1964. 2014 , 2387; V. 79. p. 1643; V.88.
Issued, Fidelity Trust Co., trustee.
to retire the 5s
p. 1173, 1493; V. 91. p. 41; V. 96, p. 363, 491, 718. 949;
99. p. 1050.
Baltimore Electric Co. 5s ($7,500,000 authorized Issue; Northern
Trust Co. of Phiia., trustee) are secured by a lien on the property and
163; V. 90,
p.
V.
The*
V. 85. p. 598, 1271
$1,155,000,Consol. Gas El. L. 8c P. Co. gen. 434s.
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 annualrchazge
sufficient to pay Int. and sink, fund on the bonds, diva, and sink, funds on
the prsf. stock, oper. exp., taxes, maintenance, &c.
There have been
sold $960,000 1st M. 5s, $700,000 pref. stock and $439,000 common stock.
See V. 101. p. 1017; V. 103. p. 764.
The $5,000,000 secured gold notes of The Consolidated Power Co. of
Bait, were issued In Aug. 1017 to provide toward construction amounting
to $6,000,000 consisting of power plant, transmission lines, &c.
On and
after Aug. 1 1918 leased to Consol. Gas, Elec. Lt. & P. Co. of Bait.
The
notes (guaranteed) are secured by $6,000,000 of a $15,000,000 bond issue
of the Power Co.
tA further $2,500,000 of the bonds were pledged In Mar.
1919 as part security for 7% Secured Convertible notes.]
The notes are
callable as a whole at 103 and int.; on and after Aug. 1 1919 at 102; and on
and after Aug. 1 1920 at 101.
V. 105, p. 501. As to same company's 3-year
notes of 1918. see V. 107, p. 1483.
1181, showed:
-Years ending June 301915-16.
1916-17.
Total gross income
$8,498,809
$7,431,769
$12,813,617 $10,619,589
Net earnings..
3,583,693
4,018,645
4,203,905
4,800,711
2,346,422
2,003,635
2,132,565
Surplus for divs., &c
2,517,089
Preferred dividends (6%)
$246,225
$226,588
(x)
Common dividend
(7)885,578
1,162,026 (8)1,150.864(734)1079158
Reserve for contingencies
134,542
250,000
300,000
394,000
Reserve for depreciation,
550,000
925,000
725,000
600,000
amortization, &c
REPORT.—For 1919, in V. 110,
Cal. Year
1919.
Net surplus
x
1917-18.
$36,063
$6,701
$140,675
$97,289
Preferred stock retired April 2 1917.
OFFICERS.—Chairman, J. E. Aldred; Pres., Herbert A. Wagner; V.-Ps.
Cbas. M. Oohn and Chas. E. F. Clarke; Sec., Wm. 8chmidt Jr.: Treas.,
John L. Bailey.
Office, Liberty & Lexington Sts., Baltimore.—(V. 110,
p. 564, 1181, 1283, 1645.)
CONSOLIDATED
In Delaware in Oct.,
TEXTILE
CORP.—ORGANIZATION.—Incorp.
1919 to acquire all the properties, assets &c.t of the
Bait
Bait
Northern Trust Co, Phlla
2X Checks mailed
BkrsTr.N Y ;AIexBr'n,Bal
A
A Feb
&
O
Q—J
434 g J
4 X g M
&
J
&
J
N
*
J
&
D
P
S
6 g
&
J
*
Merc Tr 8c Dep Co, Bait
1 1940
May 1 1920 IX Checks mailed
I 1937
Continental Tr Go, Balto
Apr 15 '20 75c
New York
Apr 1 1923
Apr 30'20,134 % Guaranty Trust Co, N Y
Jan
1 1922
U S Mtge & Tr Co,
N Y
May 1 1934
Guaranty Trust Co, N Y
U S Mtge A Tr Co, N Y
July 1 1931
Deo 1 1950
Guaranty Trust Co, N Y
Feb 1 1923
Equitable Trust Co, N Y
&
8c
A
Q—J
Q—J
Checks mailed
[Apr 1 *20
1H%
Apr 1 *20154%
do
0).
amount
i
a
share
was
paid In Jan. 1920
paid in April 1920.
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¬
or
retire notes at not exceeding 10234 8c int.
EARNINGS.—See V.
V. 110, p. 1529.
110, p. 1091, 1751.
DIRECTORS.—Frederick K. Rupprecht (Pres.), Eugene V. R. Thayer,
McOampbell, Charles M. Walton Jr.,
Ferguson (V.-P.), W. S. Prankard,
Edward Hambleton, Henry B. Stimson. V. 110, p. 1293,
Sherburne Prescott (Treas.), Leaviile
F. Johnson (V.-P.), Alfred L.
Allen
Allan A. Ryan, T.
1645, 1751.)
CONSOLIDATION COAL CO., MD — Inc. in Md. 1860.
V. 82, p.1043 *
Owns 301,130 acres of land in Maryland, West Virginia, Kentucky and
Pennsylvania.
V. 88, p. 1256, 1375.
Also owns: (1) Entire capital stocks
as follows:
(a) $1,500,000 Cumberland & Pennsylvania RR., which see
under "Railroads" above; (&) $4,000,000 Somerset Coal Co.; (c) $1,000,000
Fairmont Mining Machine Co.; (d) $650,000 Consolidation Coastwise Co.
(e) $10,000 Fairmont Coal Co.; (f) $100,009 Monongahela Service Co.;
(0) $20,000 Cassv. & Monon. RR. Co.; (h) $5,600 Canal Towage Co.;
(1) $5,000 Penmount Coal Mining Co., and $500 Maryland Construction 8c
Contracting Co. (2) Majority stocks viz.: (a) 5,409 shares pref. and 18,900
shares com. 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 Oeal Co. of Boston, and
$1,301,800 stock of Coastwise Transportation Co. 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 1919. including subsidiaries, 7,200,333 net tons, and
714,562 net tons mined by lessees. See 56-year record, V. 110, p. 1202.
Owns $1,500,000 stock of Cumberland & Penn. RR. and guarantees its
$1,000,000 bonds.
As to allied Elk 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
S39.190,500 to $45,000,000,5% was paid in 1918 from and of 14% In March
00,000;
stock dividend of and In Mar. Feb. 1917 $45,000,000 to $50,a
V. 106
1918.
p.
1233, 1580.
In exchange for the $7,000,000
maturity Feb. 1 1917; the deben¬
Stock to amount of $7,980,000 was issued
debenture bonds and
tures
were
to have
accrued interest
at
conversion Is understood
V. 104, p. 365, 767, 1804.
held by the Rockefeller Interests and the
given them a majority interest.
DIVS.
(%).'09. *07. '08.
1909.
*10 to *16
8Incel903_— 6
6
6
6 & 2 ex. 6 yearly.
any
issuable only for 80% of the cost of additions and improvements.
Annual
sinking fund from Aug. 1 1922, equal to 1 % of the total of these bonds from
time to time outstanding, to purchase or call them for cancellation in
amounts prorated over all seriesfoutstanding.
"
The remaining $354,232 5% Cons. Debenture stock was called for pay¬
Bk,
A Aug
Aug 1 1922
DIVIDENDS.—An Initial dividend of 75c.
with
be redeemable at such prices, as may
& Merch
Fidelity Trust Co, Bait
of record Dec. 15 1919 at $30 a share.
same
Co.,
notes
A
Farm
& Sons Co.,
Burlington, N. C.t owners of the Ossipee and Hopedale mills, and the Ella
Mfg. Col. of Shelby, N. C.
The four mills contain 40,340 spindles and 1,019
looms, together with water-power plants, dye-houses, &c.
Acquired 90%
of the stock of Lynchburg Cotton Mills Co. In 1919, and in Jan. 1920 ac¬
quired stock control of the Windsor Print Works of North Adams, Mass.
V
110, p. 1091.
Rights.—55,000 shares of stock (no par value) were offered to stockholders
chase
on
Alex Brown & Sons,
Pilot Cotton Mills Co., Raleigh, N. C., James N. Williamson
common
Int.
7
See text
t he Issue ($1 5,000,00
CONVERTIBLE NOTES.—Auth. issue $8,500,000; dated Nov. 15 1910.
due Nov. 15 1921.
Convertible at option of holders after Nov. 151918 into
or any
MNBk ,NY ,AlexBr'n,Bal
Q—F
F
K
Bait and Lon
Mar 1 1921
P
5 g
New
a
York.
A Aug 1 1922
D June 1 1947
J Jan 2 1920
8
Is
text
13,500,000 See
4.510,000 7 In 1919
100
100
The remaining $1,155,000 Is pledged under Baltimore Ele c Co 5s closing
On April 1 1910 laws were
267.637 sh.
3,000,000
40.205,449
48,000
4,560.000
4,538,000
10,720.000
5,873,500
500 &c
1897
6
900,000
New
NYTrust;AlexBr'n, Bait
N May 1 1929
J July 1 1939
O Apr 1 1954
8c
.
Checks mailed
1 1949
&
&
J
Where Interest and
Dividends are Payable
14 1935
&
J
P
700.000
Feb
J
Places
N Nov 15 1921
Feb
50
-
Preferred
165
INDUSTRIAL STOCKS AND BONDS
May, 1920.]
do
extra
do
in stock
__
In 1918, Jan.
2
2
0
2
__
60
--
*17.
'19teApr30'2O
'18.
6
6
Feb., 3.
5 Apr., 14
1X quar.
—
31, IX (qu.); Feb. 11, 3% extra; April 20, 14%
193.<
In stock.
V. 106, p. 1580, 1233,
BONDS.—"1st & Ref." M. 5%
(V. 106, p. 1475; V. 91, p. 1514, 1330.
1256; V. 92, p. 404; V. 94. p. 1053. 1059; V. 95. p. 621; V. 96, p. 949, 1765)
a 1st Hen on 194,970 acres of coal lands or rights (inc!. 100,000 acres pur¬
chased Nov. 1910) and a general lien, subjeot to about $11,000,000 prior
had
bonds, on the remaining property, about 106,160 acres, and on other
tangible assets, Including mining plant, tugs, barges, coal cars, securities,
&o„ aggregating $21,469,075.
Sinking fund, 2o. per ton mined in first
5 years, then 3o. for 15 years, 4o. for 10 years and 5c. for remaining 10
yrs. Depredation charge of 2 Ho. per ton, Ac., also charged agst. operation.
Status of $40,000,000 First and Refunding Mortgage Bonds Dec. 31 1918.
Reserved to retire prior lien bonds (see table at head of page)$9,146,000
Pledged as collateral under 6% convertible secured gold bonds.. 6,500,000
Retired by operation of sinking fund
1,020.000
Held for future development, &c., for most part to 75% of cost.. 5,978,000
Hetd In treasury, $6,636,000, and outstanding, $10,720,000
17,356,600
The $6,500,000 10-yr. 6% gold bonds dated Feb. 1 1913 were secured by
deposit of $9,500,000 1st & Ref. 40-yr. bonds, $1,800,000 Northwestern
Fuel Go. (of Wisconsin) common stock and $500,000 Metropolitan Goal Co.
(of Massachusetts) common stock.
They will be convertible Into common
stock at $105 per share up to Feb. 1 1922 (except that In case ©f redemption
In whole or part at 105 on Feb. 1 1910 or any Int. day thereafter conver¬
sion right will ceas8 30 days prior to redemption.) The company may at any
time deposit In lieu of the shares named "1st 8c ref." M. 5% bonds equal to
111 1-9% of the par value of the shares withdrawn, or on any after Feb. 1
1910 withdraw said shares at 80% of par in cash for use In redeeming the
bonds at 105%. To Dec. 31 1919 $626,500 had been converted Into stock.
V. 96. p. 303. 421, 491, 550. 792; V. 98, p. 997.
Of Fairmont Coal Co. $6,000,000 1st M. 6s. $1,273,000 had on Dec. 31
1919 been retired by sinking fund and $189,000 was pledged under First 8c
Ref. Mtge. of 1910. V. 106, p. 1475.
^
REPORT.—For 1919 in V. 110, p. 1191, 1201, showing:
Gross.
Net.
InL.&c.
Fed'I Tax. Dividends.
Bal., Sur.
$6,149,700 $2,962,328 $178,094 $2,411,854 $5,974,424
$8,507,398 $2,727,897
$770,810 $2,410,046 $2,598,645
191?: 26 111204 G2 792,349 2,790,059 1,491,007 3,121,290 5,386,933
19161 17 342 366
0.131.919 2.056,364
------1.500,781 2,574,774
The total surplus Dec. 31 1919 was $56,923,728.
In 1913 revaluation of
coal lands added $38,925,971 to total surplus.
Pres., Clarence W. Watson.—(V. 110, p. 363, 1191, 1201, 1293.)
1919-$23,507,556
1918.$26,148,895
CONSUMERS POWER CO. (OP MAINE), MICH.—See
"El. Ry. Sec.,
CONTINENTAL CAN CO—ORGANIZATION.—Incorp. In N. Y,
Jan. 17 1913.
Operates "23 up-to-date mills" at Canonsbura. Pa. V. 0$.
p. 1610; V. 96, p 363; V. 104, p. 555, 2643.
Agreement with Vulcan Detinning Co.
See that company.
STOCK.—The preferred
Is callable. all or part, at 125 and aeoraed
dlv.. also, beginning In 1915. for annual sink. fu. of 3% of Issue, payable
out of surplus profits.
The pref. has no vote for directors unless 4 quarterly
dlvs. are In default, in which case the election is vested exclusively in the
Eref. until all without consent of 75% of eachgood. ofNo mtge.Dividend on
or Increase
pref. stock the defaults have been made class
stock.
l
Date
Continental Candy Corp.—Stock 500,000 shares—
Continental (Fire) Insurance Co—Stock—-—
Continental Motors Corp—
Common stock, $15,000,000
Pref (a A d) stk 7 % cum s f text
Serial notes, A, B, C & D red 101
(The) Continental Oil Co—Stock $12,000.000
Par
Amount
Rate
When
Value
Outstanding
%
Payable
and Maturity
10
xxxc*
1,000
25
100
100
1,000
1.000
1906
1901
See
text
1 (V 94, p. 127)
abed Including amounts held
held by National Starch Co Itself.)
—z
1,000
1910
by Corn Products Ref. Co.. vt z.;
a
>n common
1919, 1H% auar.
In June 1917 to provide additional working capital to take oars of the
growing business, $2,000,000 (25%) new common stock having been under¬
written, was offered at par to common stockholders. V. 105, p. 2275;
V. 100, p. 90, making the total common $10,000,000.
In Jan. 1918 in¬
creased tne auth. common stock to $15,000,000 and the outstanding Issue
to $13,500,000 through a stock dividend of 35%.
V. 105, p. 2275. 2458.
V. 104, p. 2455. 2555: V. 105, p. 392. Of $5,500,000 pref., $990,000 was
redeemed
Dec.
to
31
CORP.—ORGANIZATION.—Incorp. in
1919 purchased the two factories of
of the Corn Products Refining Co.,
located in Jersey City and one in Chicago.
For full statement to the
CONTINENTAL
CANDY
New York May 27 1919 and in June
the Novelty Candy Co., a subsidiary
one
N. Y. Stock Exchange see V. 109, p. 687.
STOCK.—The stockholders of record Oct. 8 1919 were given the right
to subscribe up to Nov. 13 1919 to 70.000 shares of stock (no par value) of
Buddy Buds, Inc., at $5 a share to the extent of 14% of their holdings.
—(V. 109, p. 1277).
DIVIDENDS.—An
Jan.
1920.
The
EARNINGS,
same
initial dividend of 25 cents per share was paid in
amount was paid in Apr.
1920.
Ac.—of the two factories mentioned above compare as
follows:
Output
Net
Net Before
(lbs.)
Sales
Fed. Taxes.
19,000,000 $2,668,496
184,477
20,000,000
3,732.1.56
804.559
Income account, 8 months ended Dec. 31 1919: Net sales, $3,155,588;
cost of sales, $2,280,433; selling, administrative & gen. expenses, $516,283;
net profit after providing for Federal taxes
$358,872.
Calendar Years—
-
DIRECTORS.—Benjamin
Schneewind
(Pres.),
Charles W. Stiger.
Chicago; W. A. Millet (V.-P.), Jersey City, N. J.: Allan A. Ryan, J. RCoffin (Treas.), Geo. F. Lewis (Sec.), Milo B. Bennett
York office, 37 Wall St —(V. 110, p. 1293.)
(2d V.-P.).
New
surplus, was distributed Jan. 10 as a stock dividend; and (d)
$1,000,000 now 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%; 1919, Jan. and July. 10%.
1920, Jan., 10%.
Henry Evans, Pres.; Ernest Sturm, Sec.
Offices 80
Maiden Lane, N. Y.—(V. 102, p. 156, 611; V. 104, p. 167; V. 106, p. 339;
V.
or
107. p.
CORP.—ORGANIZATION.—Incorp. In
Virginia in Jan. 1917 (see V. 104,
p.
259). and took over business and plants
Detroit and Muskegon, Mich., of Continental Motors Co., makers of
Com. stock auth., $15,000,000; par, $10:
outstanding in Mar. 1920, $14,596,750, issued for neb assets (exclusive of
special tools, dies, jigs and fixtures, patterns, designs, drawings, patents
and good-will), valued at $7,227,369.
Pref. stock (offered by William P.
Bonbright A Co. and Lee. Higginson & Co.) is callable in 1920 as a whole at
104 & div., increasing 1% yearly to 110 in 1926 and thereafter. Skg. fund
equal to 20% of net profits remaining after pref. div. will accumulate until
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 July 1920.
Div. on com.
stock No. 1, June 15 1917, 1)4%; Dec. 5 1917, 2%; Feb. 1918 to Aug. 15
1919, 1)4% quar.; Nov. 15 1919 to May 15 1920, 2% quar.
V. 109, p.
795; V. 105, p. 2187, 2275.
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.
at
"Continental" gasoline motors.
REPORT.—For year ending
Years ending Oct. 31—
exp.
Oct. 31
1919, V.
1918-19.
maint., Ac.,
incl. deprec. and ord. taxes— $5,125,725
Net profits
Federal
110, p.
1085, shows:
1917-18. 9)i rnos.'17.
after mfg.,
1,700,000
tax reserve
Preferred dividend
(7%)
Common dividend
206,635
(6,X%)944,993
$1,939,785
$1,636,814
not shown
240,000
238,282
178,305
(8)1.162,784(3)4)217928
surplus.
$2,274,097
$538,719
$1,000,583
profit and loss surplus Dec. 31 1919, $3,827,698.
Pres., Benj. F. Tobin, Detroit; V.-Pres., R. W. Judson; Sec. A Asst.
Treas., W. R. Angell; Treas.. G. W. Yeoman.—(V. 110, p. 1085, 1293.)
Balance,
Total
(THE) CONTINENTAL OIL CO.—ORGANIZATION, Ac.—Incorp. In
Colorado April 1913 as successor of the Iowa company of the same name
each share of stock receiving ten times the amount in new stock.
V. 96
p.
492, 1091,1158.
segregated In 1911.
and
Chicago
A
J July 1
Farmers' L A Tr Co. N *
1930
(cost) $2,240,2 18(along with $2,033,000
REPORT.—Report for cal. year 1919 in V. 110, p. 1852:
1919
1918
1917
1916
Copper produced (lbs.). 23,082,498
37,498,197
45,043,301
54.747,498
Total revenue
$6,358,678
$9,481,563 $13,097,933 $13,910,036
Net for dividends972,653
2,895,615
4.966,825
6.078,190
Dividends paid
(10)986,015(24)2366.394(40)3943,913(40)3941,648
Pres., William A. Paine, Boston.—(V. 110, p. 1852.)
REFINING CO.—ORGANIZATION.—Incorp
82, p. 103, 1321; V. 85. p. 527; V. 86. p. 1412; V.
PRODUCTS
Feb. 6 1906 per plan V.
87, p. 42; V. 96, p. 996; V. 90, p. 845.
Plants at Argo, Granite City and
Pekin, 111., Edgewater, N. J., and Oswego, N. Y. (Nat. Starch Co.); total
daily grinding capacity in Aug. 1917, 135,000 bushels (excluding fire re¬
serve plant.)
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.
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
not later than Jan. 1 1921.
The company must dispose of Its
plants at Granite City, 111.; Davonport, 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, III., and Jersey City, N. J., to a person or persons, including cor-
was
merger
!o. and the company,
gorations, not controlled affiliated corporations, shall not have any officers
by or affiliated with the Corn Products Refining
or
with such purchaser, nor shall any defendant be
Only persons or corporations Intending to continue the
business shall be eligible as purchasers.
Accordingly in Aug. 1919 the Novelty Candy plants were sold to the
Continental Candy Co. (V. 109, p. 687).
In Sept. 1919 also the Granite
City plant was sold for $4,500,000 to the Best-Clymer Mfg. Co. of St. Louis
and is now owned by the Temtor Corn A Fruit Products Co., though it will
continue to be operated by the Corn Products Refining Co. for one year
under a lease ending Oct. 1 1920.
The Davenport, la., plant was sold to
the American Cotton OR Co. in Dec. 1919, for $250,000.—See V. 109, p.
1277, 1463. 1702, 2267.
r
The decree leaves the company with plants at Argo and Pekin, 111., and
Edgewater, 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.)
i
directors in
or
such
common
purchaser.
PREF.DIVS.—'07. '08-'11.
Regular (%)_.
7
Extra (%)
Formerly controlled by Standard Oil Co. of N. J., but
See Standard Oil Oo. of N. J., V. 85, p. 216, 790: V. 93
?>. 1390. 8tock,auth. stock from $100. Stockholders voted Sept. 17 1917
$3,000,000; par, $3,000,000 to $12,000,000. V. 105, p
increase the
1912. *13. *14. '15. '16.
4 yrly. abfc.0
1 yrly.
555
—
5
7
19.16
__
__
'17.
'20.
'18. '19.
7
7
--
--
See
tex
With the regular IX% quarterly the pref. shares
in 1917 received in
4 1-6%, extinguishing all
Initial quarterly
div. of 1 % and X % extra on common paid Jan. 20 1920.
V. 109, p. 2442;
V. 110, p. 264.
Same amount was paid in April 1920.
Jan., April and July each
accumulations.
V.
5% and
In
Oct.
104, p. 1147, 2555; V.
BONDS.—Of the N.
MOTORS
do
Dividends.—Since Aug. 1915: 1915, 12%; 1916, 40%
1917, 40% (10%
Q.-M.); 1918, 24%; 1919, March 15 $1; June 1919 to June 1920, 50 cts.
(2%) quar.
V. 108, p. 2025.
23^9.)
CONTINENTAL
York
Checks mailed
See text
,
CONTINENTAL (FIRE) INSURANCE CO., N. Y.—Stock listed on
N. Y. Stock Exchange in Feb. 1916.
In Jan. 1910 (a) the authorized Issue
was increased from $2,000,000 to $10,000,000:
(b) the par value of shares
was changed from $100 to $25 each;
(c) $7,OOO.OOQ of the new stock paid
for out
J
5 g
d5,108,000
CORN
,
Payable
Q—M June 15 *20 2% Boston
9,858,800 10inl919
See text
49,784,000 See text
text
Q—J
Apr 15 '20
IX Title Guar A Tr Co, N Y
29,826,933 See
do
do
MAN May 1 1934
5 g
a4.781,000
do
do
MAN Nov 1 1931
b620,000
5 *
Title Guar A Tr Co.Bklyn
MAS Sept 1 1920
6 2
c727,040
1919.
REPORT.—Report for year ending Dec. 31 1919 in V. 110, p. 657.
DepreciaFederal
Pref.
Common
Year, / Net.
tion.
Taxes.
Divs.
Dividends.
xSurplus.
1919-$4,139,778
$604,815 $850,000 $318,552 (6H)$877,358 $1,264,053
1918- 3,728,269
229,226
900,000
327,250 (6%) 809,770
897,017
1917. 4.531,370
400.392
850,000
344.575 (5%) 450.000
2,480.403
1916- 2,510,605
323.111
44.000
353,237 (4%) 400.000
1.390.317
x Shown
after deducting $165,000, redemption of pref. stock.
Office, Syracuse, N. Y.—(V. 110, p. 657; V. 109, p. 1082.)
New
O See text
Q—M
$2,0 52.000; b$2 85,000: c $431,360
8ref. from organization to Apr. 11 1920, Incl., l)i%p. a. (1X%per annum).
Oct. 1 1915 to Jan.
1918, incl., 5% quar. (7%
Q.-J.), also
Feb. 21 1918, 35% in com. stock: April 1918 to July
IntOct. 1919 and Jan. and Apr. 1920 paid 1%% quar.
&
12% 1919
See text
100
1909
May 15 *20. 2% By check
do
1ft July 15 1920 lk
Q—J
A
Debentures—
Nat Starch Co debs g guar p &
1987
2.265,900
5,000,000
are
J Jan
&
14.590,750
100
1920
Where Interest and
Dividends
Apr 20 1920 25c
7 '20 10% Central Union Trust Co
Q—J
$1
500,000 sh.
text J
$25 $10,000,000 See
None
Copper Range Co—Capital stock $10,000,000
—.—
Corn Products Refining.—Common stock $50,000,000- ..
Preferred (a A d) stock 7% cum $30,000,000
1st M. g sink, fa red 105
xc*
Debentures g $114,000 called yearly par (V 85. p 527)— *
N Y Glucose Co first ratge assumed gold s f (see text)—z
Guaranteed
Places
Last Dividend
Bonds
MISCELLANEOUS COMPANIES
IFor abbreviations, &c.. see notes on first page]
Cal.
[VOL. 110.
INDUSTRIAL STOCKS AND BONDS-
166
Y. Glucose 0s. 4%
105, p. 392.
of each bond ($40) Is retirable
3ept» 1 yearly beginning 1902. but they are not sub. to eali. V. 74, p. 1086.
The 1st 25-year 5s of 1909 ($10,000,000 auth. Issue) are secured by a first
lien on all the property of the company and Its subsidiaries now owned or
hereafter acquired (except certain real estate in Chicago), subject only
to
Y. Glucose 1st 6s.
Annual sinldBg fund of 2% of total at any time
N.
Int. Of the bonds $6,115,000
acquired by the company by
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. 1964, 1256,
1439; V. 90, p. 845. 846; V. 93. p. 348; V. 105, p. 1423.
Issued may be used to draw bonds at 105 and
Issued $2,696,000 had on Dec. 31 1919 been
purchase or exchange.
EARNINGS.—
Net
Results for Quarter
1920.
earnings
*$5,684,353
Total income
5,742.433
Interest and
deprec
(1X %)
Pref. dividends
ended March 31.
$3,912,843
3,912.843
$3,673,215
3,673,215
578.089
570,814
521,972
521,972
637,914
521,972
497,840
248.920
-
Com. div. quar. (1%)--
1917.
1918.
1919.
$2,957,201
3.020.389
521,972
791.206
Pfd., Apr 20, ex. (X %)
1,920,328
2,820,057
2,360,037
Balance, surplus
—
3,835,787
*Ne teaming
from operations after deducting charges for maintenance
and repairs and estimated amount of excess profits taxes.
REPORT.—For cal. year 1919, in V. 110, p. 968:
1919
1918
Profits from operations_$22,015,414 $24,282,303
1917
1916.
$16,852,793 $ 7.900,188
146,294
219,958
Int. onidep., loans, Ac—
Int. A divs. on securities
523,561
215,844
920,935
828,205
314,472
Rents real est. not in op_
262
2.602
1,837
231,081
4,038
$23,460,172 $25,328,954 $17,389,061
$8,281,600
$201,187
$225,803
370,354
195,997
131,363
249,401
202,470
2,087,885
132,758
6,313,361
$255,608
222,792
87,679
3,131.825
2,59
(21-6%)
2,050.676
Total income
Interest
General
on
bonded debt
taxes
Insurance
$158,204
Preferred dividends
Dividend rate
2,087,890
(7%)
Depreciation
2,407,843
746,760
Com. dividends (1X%)Inc.A war exc. prof, tax
6,500,000
Repairs A replacements.
Special A extraor. losses.
56,885
13,000,000
•
3,500", 000
612,230
212,500
482,000
o
1212.
Dividends paid Sept. 1913 to
Paid 200% in stock on April 30 1920.
E. T. Wilson; Treas., G. F. Smith.
for year 1915
(V. 103. p.
March 1920. 12% (3% Q. M.),
In June 1920 paid 2%.
Pres.,
Office, Denver,
Colo.
Earnings
2368).—(V. 110, p. 1418, 2196.)
COPPER RANGE CO.—ORGANIZATION.—Incorp. in Mich. Jan. 21
See V. 105, p. 610; V. 101, p. 925.
Has extensive land holdings
and mineral rights fn Lake Superior district, Mich.
Owns the stock of
Trimountaln and Atlantic mining companies and Copper Range RR. (see
"Railroads"), 99.69%, 97% and 100%, respectively, and 50% of Champion
Copper Oo.
1899.
Balance, surplus
110,882,836
$6,564,516
$5,035,099
$2,951,922
Dec. "81 1918 the profit and loss surplus amounted to $35,788,700.
.
On
National Starch Co.—Results for Calendar Years.
Net
Other
Bond
Insur. &
DepreciaBalance.
Profits.
Income.
Interest.
Taxes.
tion.
Surplus.
$739,494 $11,297 $159,208
x$361,253
$250,315
$178,014
1918
948,293
13.938
197,652
*318,465
250,304
195,810
1917
533.112
12.606
227,727
59,447
250.317
8.227
x Includes $250,000 reserved for income and excess profits tax.
Calendar
Years—
1919
167
INDUSTRIAL STOCKS AND BONDS-
MAY, 1920.]
MISCELLANEOUS
Date
Par
Amount
Rate
When
Last Dividend
Bonds
COMPANIES
[For abbreviations, Ac., see notes on first page]
Value
Outstanding
%
Payable
and Maturity
See text
Text
Q—F
7
Q—M
$5
Cosden and Company—Common stock
No par value stock.
See text
5
Pref stock 7% cumulative convertible $7,000,000
Convertible s f bonds $20,000,000 A Sc B text
Cosden & Co (old) 1st M convertible s f bonds
1917
1916
1,000
$3,595,040
8,104,500
627,000
6 g
6 g
J
&
A
&
See text
June 1'20
Where Interest and
Places
Dividends are Payable
Baltimore, Md
1X
J July 1 1932
O Oct 1 1926
do
do
Central UnionTrCoNY
Equitable Tr Co, Bait
(Win) Cramp & Sons Ship & Engine BIdg Co—See text
50
Crescent Pipe Line Co—Stock $3,000.000
Crucible Steel Co—Common stock autnorized $75,000,000-Preferred (a & d) 7% cumulative
100
100
$25,000,000 authorized-1911
1911
1920
100
&c
the company
the Corn Products
M
5
5,830.000
49,000
None 500,000 she
100
50,000.000
The National Starch Co. 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 $808,000 on Dec. 31 1919 were in hands of public.
On that
date
July 15 1920
7
Apr I 1920 1)4 Guaranty Trust Oo, N Y
Jan 1 1930
7
25,000,000
REPORT.—For years ended Dec. 31:
P. Kingsford,
Davie, P. ET.
COSDEN AND CO.—ORGANIZATION.—Incorp. in Delaw. July 9
1917 as a consolidation (V. 104, p. 2018, 2455, 2007).
Properties: (a) in
1919 was operating 868 producing wells in Oklahoma and controlled over
300,000 acres in Kansas, Oklahoma, Texas, &c., including 10.000 acres in
Cushing District; (&) pipe line system, about 300 miles in length, connecting
the producing area with the refineries; (c) 2,062 tank cars; (d) modern
refinery at Tulsa, Okla.,.said to have a consuming capacity of 25.000 bbls.
daily if producing all by-products, 75,000 bbls. daily if "skimming" only
the gasoline, kerosene and fuel oil; this refinery is carried on the books at
$14,000,000.
V. 109, p. 680; V. 105, p. 822; V. 107. p. 2292.
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 the 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. 141919 to authroize an issue of stock without
any nominal or par value in lieu of certain of the present outstanding and
authorized Common stock, and to exchange five shares of the 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 com.
of no par value.
Outstanding (May 1920), pref., $3,595,040; com.
($5
par), none; com. (no par).
759,464 shares.
Compare (for voting right,
&c.) V. 110, p. 767, 468.
Balance, surplus
W. Hinckle Smith
Sept. 1917 an extra dividend of 4% was declared
the common stock in addition to the initial quarterly 2%, payable Nov. 1.
DIVIDENDS.—In
On Feb. 11918, in view of extraordinary conditions due to
railroad congestion the common dividend of 5% was paid
cold weather and
in common stock
1918, 2)4 % was paid in
to $18,011,398.
Nov.
Aug. 1919, 2)4% each paid quar.; Nov. 1 1919 and Feb. 1 1920
In lieu of cash and this was repeated in May; Aug.
common stock, increasing the outstanding
stock
1918 to
f aid 2)4% cash and 2)4%12)4 com. stock. on the $5 par value stock and
in cents a share See "Capital Stock" above,
May, 1920, paid divs. of
n
62)4 cents a share on the new no par value stock.
BONDS.—Convertible sinking fund gold bonds
(V. 105, p. 1000),
tota*
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 right
were different.
The rate of conversion for both series in Nov. 1919 was
$12 75 face amount of bonds for one $5 share of com. stock, but subject
to change from time to time on agreed basis when and as the amount of
com. stock is increased.
Annual sinking fund equal to 5% of
bonds issued, or 20% of net earnings whichever is larger.
In June 1919
$8,884,500 of these bonds were outstanding, excluding $1,250,000 in sink,
fund and $68,000 converted into stock; $172,000 held by Cosden & Co,
(Okla.) and $3,000 in treasury.
V. 107, p. 1097: V. 105, p. 822; V. 104, p.
1706.
Notes payable June 30 1919, $3,076,358.
outstanding
REPORT.—Consolidated Income account 11 mos. ending Nov. 30 1919
(incl. sub. cos.):
Total income
$33,742,380 Net earnings
Cost of refining, &c__— 22,230,347 Federal taxes (est.)
Gen. & admin, expenses.
1,157,302 Dividends paid...
Interest & discount
859,181
Surplus for period
Int. on bonds, &c
936,422
OFFICERS.—Pres., J. S. Cosden; V.-Pres'ts., A. W.
E. R. Perry; Sec. A Tr^as., E. M. Rouzer.
France and
and Maryland
767, 1293, 1751.)
526,587
2,518,095
$5,514,444
$25,183,252
Total deductions
Okla.,
$8,559,128
Casualty
Tower,
Baltimore,
(WM.) CRAMP & SONS' SHIP & ENGINE BUILDING CO.—Incorp.
In Penn. March 26 1872.
In June 1915
a
Properties owned, V. 78, p. 46; V
90, p. 916.
large interest was acquired by New York and other parties.
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.
War and other business Dec. 31 1918, V. 108, p. 1932.
In July 1919 American Ship & Commerce 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. 372, 479.
STOCK.—Stock (asincreased June 1903). $6,250,000; outstanding. $6 098,000; par of shares, $100.
Of this. $5,756,000 has been deposited with
voting trustees, viz.: E. T. Stotesbury and Levi L. Rue. Phila., and Geo. F
Baker. N
Y
V. 76 p. 921. 975. 1087: V. 101
p. 290: V
102 p K03
V. 100, p. 2013; V. 101, p. 50; V.
Reported in May 1920 that the directors had voted to add $15,000,000
capital of the concern, of which $10,000,000 will be distributed to
stockholders in the form of a stock dividend.
to the
f'96-'97. '98. '99. '00. '01. '02.'03-*16.
1917.
'18. 1919DIVS__%\ None
1^ 5
5
5
334 None Aug.. 3%
6
7)4
In May 1917 resumed dividends. 3% being paid Aug. 1; Feb. 1918 to
Aug. 1919, 3% s.-a.
in Oct. 1919 and Jan. and Apr. 1920 paid 1)4%.
V. 109, p. 1277.
Funded Debt as of Dec. 31 1919.
20-year 5% serial notes of 1903, due $170,000 s.-a. Jan. 1 1920 to
July 1 1923, but callable at 102)4.
Secured by deposit of
Oonsol. Mtge. 5% bond3_,
$411,000
1st Mtge. 5% gold bonds of 1899, due Mar. 1 1929, but callable $25,000 yearly at 110; interest M. & S
1,000,000
Consol. Mtge. bonds, $7,500,000; isued in exchange for 20-year
LATEST
serial
notes
Real estate mortgage and ground rents
1.022,000
565,444
1918.
$1,807,405
N. J..
(Chairman), J. K. Mitchell, C. E. Mather; H. B. Taylor,
A.
Berwind,
Andrew
Hoboken,
Fletcher,
Phila.; Carroll S. Smith, N. Y. City; W. Potts of Wyebrook, Pa.; J. H.
Mull, Phila.; Charles Hayden, N. Y.; Joseph Giifillan, P. M. Chandler.
Officers: Pres., J. Harry Mull; V.-Pres., H. B. Taylor; Sec, & Treas., O. T.
Taylor; Asst. Sec., R. L. Howe, and Asst. Treas., C. L. Peterson; Compt.,
Geo. D. Martin.—(V. 110, p. 81.)
CRESCENT PIPE LINE CO.—ORGANIZATION. &c.—Incorporated
Pennsylvania in 1891.
Has pipe line from Greggs, Pa., to Marcus Hook,
Pa., 269 miles.
Formerly controlled by Standard Oil Co. of N. J.t but
segregated in 1911.
See Standard Oil Co., V. 85, p. 216, 790; V. 93, p.
1390.
Stock, $3,000,000: par, $50.
Dividends, 3% quar., Mar. 1912 to
Mar. 1914 incl.; June 1914, 2)4%; Sept., 2%; Dec. 1914 to June 1920,
1)4% quar. V. 99, p. 470, 1454.
Calendar Years—1919.
1918.
1917.
Net income
$i61,417
$187,446
$167,129
In
-
Dividends (6%)
—
180,000
180,000
180,000
Balance
sur.$7,4*46 def.$12,871
def.$18.583
—(V. 110, p. 662, 767.)
p.
CREX CARPET CO.—(V. 106, p. 819; V. 106, p. 1097,
1277, 1364, 1463.)
1387; V. 109,
CO. OF AMERICA.—ORGANIZATION.—Incor¬
V. 71, p. 32; V. 73, p. 842; V. 84, p. 573;
Fourteen of plants owned and controlled, Pittsburgh, Pa.,
Syracuse, N. Y., Auburn, N.' x., Harrison, N. J., Jersey City, N. J., Mid¬
land, Pa., McKees Rocks, Pa., &c.
V. 109, p. 1789.
In years 1916-17
a large part of the exceptionally heavy earnings were applied toTadditlons
and improvements (new open hearth steel plant, &c.), to renderithe 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.
1832.
In 1919 was completing improvements under way, but undertaking
CRUCIBLE
STEEL
porated in N. J. on July 21 1900.
V. 101, p. 290.
V. 109, p.
work.
1789.
Crucible Steel Co., all of whose stock is owned by the
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. & i. by Crucible Steel Co.,
maturing $250,000 annually beginning 1916; outstanding Aug. 31 1919,
$5,830,000.
V. 92, p. 525, 728; V. 95, p. 1272; V. 99, p. 1449; V. 101, p.
1551; V. 105, p. 1895.
In Aug. 1917 the Pittsburgh Crucible Steel Co. was
expecting to complete early in 1920 Its 100 Koppers by-product coke ovens
and a 600-ton blast furnace, which will cost approximately $2,000,000.
V. 107, p. 406; V. 108, p. 893.
Halcomb Steel Co. of Syracuse (controlled by stock) 2d M. 5s of 1911
(guar. p. & I.) see V. 92, p. 728, 397; V. 103, p. 2082; V. 104, p. 2348;
V. 105, p. 2545; V. 106, p. 811.
,
The foregoing Issues constitute the $5,879,000 guaranteed bonds [as of
Aug. 31 1919] mentioned in V. 105, p. 1895.
Guarantees Interest ($45,000 yearly) on Norwalk Steel 4)4s 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 Co. Jointly with U. S. Steel Coropratipn.
CAPITAL STOCK.—The stockholders voted Feb. 16 1920 to increase
the authorized 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.
mom*
.on
LATE DIV/68.
'09.
*10.
T1-T3. '14. '15. '16.
*17. '18. 19.
20
On pref
% 0
5)4
7
7 yrly.
3)4
IX
]
7
7
7
See
Onacc'ns.%
[In 1910 % & lOscl
6 18)4
—
—
text
On Com
--4
In cal. year 1917 paid the regular 7% (IX Q-M) on the pref. shares
and also 18X% of accumulated dividends, clearing all accumulations.
In July 1919 an Initial div. of 1)4% was paid on the common stock, and
in Oct. 1919 and Jan. 1920 paid 3%.
V. 109, p. 1182; V. 108, p. 2632.
On Apr. 30 1920 paid 3% in cash and 50% in common stock.
no
new
,
_
,
The Pittsburgh
Crucible Steel Co. of America, purchased
„
^
^
x
e
v
^
_-
__
....
--
REPORT.—For year ending Aug. 31
Gieske, Jacob
Offices, Tulsa,
Md.—(V. 110, p.
$2,455,399
380,001
267,993
$2,104,562
Total interest charges
CAPITAL STOCK.—It was announced in Oct. 1919 that
on
1919.
$2,958,286
654,100
199,624
-
DIRECTORS.—H.
Hall, Willis D. Wood.—(V. 109. p. 175, 479, 891,1277, 1612, 1702; V. 110,
p. 264, 968, 1293, 1852.)
See text
June 30 '20 IX Checks mailed fr Tr office
To June 30 1920
S Marl920to 1945 Union Trust Co, Plttsbg,
5
Depreciation
Refining Co. held $2,995,000.
DIRECTORS.—B. T. Bedford (Pres.), W. J. Matheson (V.-P.), E. B
Walden (V.-Pres.), G. M. Moffett (V.-P.), P. T. Fisher
(Sec.-Treaa.)
&
1)4 Checks mailed
June 15 '20
Net earnings, after insurance, taxes, &c
itself held $2,033,000 the issue for redemption while
O. H. Kelsey. O. M. Warner ,-sG. S. Mahana (V.-Pres.), T.
W. H. Nichols Jr., A. A. Smith, A. B. Boardman. Preston
Q—J
Q—M
1,530,797
Dividend scrip payable annually.Pitts Cruc Steel Co 1st M $250,000 yrly begin 1916.UPi-xc*
Halcomb Steel Co 2nd M, due $55,000 yearly
Cuba Cane Sugar Corp—Com stk no par value (see text);
Pref stock 7% cum convert red 120 $50,000,000——
Ten-year Debenture bonds convertible text/Gc*
O—M
text
3.000,000 Se**
Text
37.500.000
7
25,ooo.oon
Fisc.Yr.
Profits.
__
w
--
1919, V. 109, p. 1789, showed:
Bal., Surp.
Dept.,Ac. Conting. Interest.
4,17*,489
Pref.^Div.
ordef.
1918-19.14,093.005
347,308 (7%)1,750,000 7,824.208
1917-18.19,939.226 5.759.000
368.098 (7%) 1.760.00Q[12.062.128
1916-17.16,161,237 3,375,000
503,879 (30)4)7.562,500 4,719.858
1915-16.16,528,748 1,915,240 794,570 595,282 (8)4>2.l2o,000 11,098.655
1914-15. 5.220.921 1,464,616
48.443 634.112
-3.073,750
On Aug. 31 1919 profit and loss surplus was $15,774,800; surplus, appro¬
priated to additions, improvements. &c.. $30,000,000.
Chairman and Pres., H. 8. Wilkinson; V.-P., Dr. Jno. A. Mathews,
Geo. E. Shaw, J. W. Dougherty and R. H. Illingworth; Treas., Geo. E.
Shaw; Sec., H. F. Kress.
Office, Oliver BIdg.,l™sbwgh. Pa.—(V. 109,
_
p.
175, 274, 778, 891, 1182, 1369, 1702,
767,
1790, 1990, 2267;
V. 110, p. 468,
1191.)
CANE SUOAR CORPORATION.--ORGANIZATION.-—In¬
corporated In Dec. 1915 In N. Y.
A consolidation of 17 sugar plantations,
V
103
d
64; V. 102, p. 1628.
In July 1916 acquired Stewart Sugar Oo.
of
V. 102
p. 2344; V. 103, p. 64, 496.
Reported in May 1920
that the company had purchased Central Violeta, in Santa Clara Province,
Cuba, V. 110, p. 2196.
Crops made by) the company: Number of bags
(7 bags equal one ton of 2,240 lbs.), viz.: 1915-16,
1916-17,
3,261.621; 1917-18, 3,613,325; 1918:19, 4,319.189.
Status in July 1919
(Goethals and committee reports), V. 109, p. 274, 1463.
STOCK.—Authorized, $50,000,000 7% cum. conv. pref. (par $100), and
1 416 667 shares common (Including 600.000 shares reserved for conversion
of nref. stock and 416,667 reserved for conv. of 7% Deb. bonds; see below);
no par.
Tref. Is redeemable at 120 and int. and Is preferred as to assets and
dividends
Convertible into common share for 3bare. at any time at option
of holder.
V. 103, p. 64. 1794.
CUBA
Cuba?
§,174,168;
&c.—The $25,000,000 10-year 7% debentures (offered in
int.) are convertible on and after Jan. 1 1922 (or sooner
time permitted by law) into common stock at $60 per share.
Redeemable on 60 day's notice at 107)4 during the first 5 years, 105 during
BONDS,
Jan. 1920 at 100 &
if
at
any
,
see notes on
first page]
Par
Amount
Rate
When
Value
Outstanding
%
Payable
-
Pref stock 7% cum s fd call at 105 till Jan 1 '18 then
Dallas Power & Lt Co—See Electric Ry. Section,
1918
1910
1918
1.000
1.000
.100 &c
100
110—
100
100
1901
1,000
1,000
1911
1.000
1920
500 &c
1907
outstanding except purchase money mortgages,
V. 109, p. 2174; V. 110, p. 363.
DIVIDENDS.—On pref. April 1916 to Apr. 1 1920. 7% p. a.
(1K % qu.)
'. 109,
ending Sept. 30 1919, see V. 109, p. 2073, 2442.
1918-19.
1917-18.
1917-18.
$
$
$
Net profits
2,150,000
1,750,000
11,069,880 7,390,604 Reserves
Interest cbgs—
555,810
679,654 Pref. divs —3,500,000 (7)3,500,000
Res. for taxes-.
3,884,580
626,424
979,490
834,525 Balance
x Includes income and war excess profits taxes.
payable Sept.
OFFICERS.—Frederick Strauss, Chairman; Manuel Rionda, Pres.;
Regino Truffin; Frederick Strauss, Alfred Jaretzki and B. Braga Rionda.
Vice-Presidents; H. F. Kroyer, Sec. and Treas.
N. Y. office, 123 Front St.
—(V. 110, p. 81, 264, 363, 468, 1751, 1852, 2196.)
CUBAN-AMERICAN SUGAR CO.—ORGANIZATION.—Incorporated
Sept. 19 1906*In New Jersey and controls and operates, through Its sub
companies, eight sugar plantations In Cuba and two sugar refineries, one in
Cuba
and
In
one
700,000 tons of
Louisiana.
DIVS.—
Annual
f'09. '10. '11-T4.
On pref.. —
On common
%h«
[
*15.
capacity
of
8K 7 y'ly
—
14
„
Own extra
Cora stock.
—
'17.
7
10
10
10
10
'10.
7
Cuban
40
18. '19.
7
7
10
10
On Oct.
quarterly
1 1917 an extra cash dividend of 10% was
2M%.
On
Oct.
2
1916
10%
paid with the regular
cash and 40% stock.
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 now outstanding will be exchanged for the
common 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, holdiners of less than ten shares to have no vote.
—V.
110, p. 1418, 973.
NOTES.—Total authorized issue. $6,000,000
sold
in Dec 1917 (V.
p. 2545; $2,000,000 redeemed Jan. 2 1919 and 1920.
The co. owns all
the capital stock
except shares necessary to qualify directors and all the
bonds of the Chaparra Sugar Co., Tinguaro Sugar Co., Cuban
Sugar Re¬
fining Co., Unidad Sugar Co., Mercedita Sugar Co.. Colonial Sugars Co.,
San Manuel Sugar Co. and Chaparra RR. Co., which bonds are
pledged
to secure this note issue.
Bills payable and bankers' loans Sept. 30 1919,
$1,529,234; real estate mortgages, &c., $462,193.
105,
REPORT.—For
end. Sept. 30 1919, at length in V. 109, p.2437, 2447.
1918-19.
1916-17.
1915-16.
1917-18.
$50,767,165 $40,089,316 $40,345,554 $27,344,128
income
13,045,236
10,249,273
10,821,960
9,625,471
Reserved Fed. taxes
4.000,000
3,500,000
2,500,000
Depreciation, &c
999,022
909,794
762,030
729,339
Interest, discount, &c_
954,918
897,047
665,930
661,020
Sinking fund, &c
811,357
637,926
494,921
Preferred dividends—__ (7)552,566
(7)552,566
(7)552,566
(7)552,566
Common (cash) divs._(10) 1,000,000
(10 999,950 (20) 1999,137 (20) 1427,120
Common (stock) divs
(40)2854,240
Gross
yr.
income
Net
-
—
Balance, surplus
Production in
1919
$5,538,731
$2,578,559
$3,704,370
$2,906,265
against 1,724,750 bags in 1918-
1,965,645 bags,
OFFICERS.—Pres., R. B. Ilawley; 1st V.-P. & Treas., J. H. Post;
Sec., Walter E. Vreeland.
Office, 129 Front St., N. Y.—(V. 110, p. 973,
1418, 1645, 1976, 2196.)
CUBAN SUQAR MILLS CORPORATION.—V. 103. p. 2240.
PACKING
CO.—ORGAN.—Began business
in
South Omaha, and, as subsequently enlarged, was sold on Oct. 15.
1915 to present company, organized in Maine. History, V. 107,
p. 294, 607.
la
Oct 1919 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,
H*
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
requiring them within two years to give up their
stockyards and other outside interests (except their handling of eggs, butter,
poultry and cheese, which is left for future consideration) and in general
to confine their operations to the wholesale meat business.
See V. 109, p.
2360.
DIVIDENDS ON COMMON STOCK.—In 1916. Nov.. 1 K% cash and
50% in stock; March 1917 to Apr 5 1920, 1K% quar. (cash); also from
accumulated surplus common shareholders of record Dec. 15 1918 received
a stock dividend of
25%.
V. 107, p. 2191.
^
CAPITAL STOCK.—V. 105,
Pref.
cum.
p.
2361) Jne 1 '18.
Auth.
Outstand'a.
($2,000,0006%; $6,550,500 7% )par $100$8,550,500 $8,550,500
26,449,500 17,249,500
29 1918 (following a reappraisal of the
Common stock (par $100)—The shareholders voted Nov.
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 $17,249,500 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 Nov.l
1919 the
p. & 1. surplus amounted to $9,620,574.
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, &c.
Annual sinking fund, $250,000
cash, plus 2 X % on any additional bonds.
See V. 103, p. 2345.
$786 800
bonds retired to Oct.. 1919, reducing amount outstanding to $8,213,200.
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¬
M
&
&
Y
&
Equitable Trust Co, N Y
S Mar 1 1921
n June 1 1941
Sales
116,162,155
•
Harris,Forbes,NY& Chic
Columbia Tr Co, N Y
New York
S Mar 1 1923
The
co.
will maintain "net
133,960,986 184.811,423 286,660.971
2,785,412
Res for Fed tax & conting
Net avail for divs. after all
...
305.997,398
677,352
int.,deprec,renewals,&c3,011,415
4,430,529
3,376,809
2.064.99S
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. 107, p
184, 294, 406, 607, 1749, 1840, 1922, 2191, 2373; V. 109, p. 75.)
CUMBERLAND PIPE LINE CO.—ORGAN., &c.—Inoorp. in 1901 In
Kentucky.
Owns pipe line in Kentucky.
Formerly controlled by Stand¬
segregated in 1911.
ard Oil Co. of N. J.,
DIVIDENDS.—
1912. 1913. 1914. 1915. 1916. 1917. 1918. 1919.
(Paid ann. in Dec.)— 6%
6%
5%
5%
5%
10%
12%
12%
July 15 1918, 6%; Dec. 16 1918, 6%, then none till Dec. 15 1919, 12%.
V. 109, p.1795.
REPORT.—For 1919 in V. 110, p. 662, showed:
1919
1918
1917
1916
$723,974
(12%)179,999
$564,054
(12)179,991
$487,758
(10)148,879
$179,366
(5)50,000
$543,975
$384,063
$338,879
$129,366
Pres., Forrest M. Towl; V.-Pres. & Treas., E. R. Shepard; Sec., C. A.
McLouth.
Office, Oil City, Pa.—(V. 110, p. 662, 1191.)
CURTISS AEROPLANE & MOTOR CO—ORGANIZATION.—In¬
corporated in N. Y. Jan. 14 1916 to take over the entire business founded
by Glenn H. Curtiss for the manufacture of aeroplanes, Curtiss flying boats
and Curtiss motors.
V. 102, p. 254.
Plants at Buffalo and Hammondsport, N. Y., and MarbleheadT Mass.
V. 102, p. 611; V. 105, p. 2097;
V. 107, p. 400. Large orders, V. 105, p. 392, 822, 2458; V. 107, p. 1387.
Order cancellation, V. 107, p. 2011. Patent pooling, V. 104, p. 2555, 2043.
Govt, financing in Dec. 1917, V. 105, p. 2458.
In Sept. 1919 a bill was
introduced in the House of Representatives, providing for the payment of
$6,114,126 to the corporation in settlement of war contracts and for the
purchase by the United States of the company's Buffalo plant.
V. 109,
p. 127; V. 107. p. 1486.
STOCK.—Pref. stock outstanding, $6,000,000 7% cum., less $536,900
paid at 110 Oct. 15 1919.
V. 109, p. 1277.
Common stock auth. 303,000
shares of no par value; outstanding, 218,060 shares, including 63,000 shares
offered at $35 a share to stockholders of record.
V. 104, p. 2643.
All the stock, common and pref.,i s held in a 5-year voting trust, expiring
Jan. 1921, the trustees being J. N. Willys, Toledo, J. E. Kepperley and
C. M. Keys.
V. 104. p. 392, 1000.
In Aug. 1917 the Willys-Overland Co. (which see) purchased (a) 24,000
shares or Curtiss 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
common at $50.
V. 106, p. 1464.
DIVIDEND —On pref. 7% p. a. was paid Julv 15 '16 to Jan 1920 incl.
BALANCE SHEET.—Of June 30 1919 (V. 109, p. 1370), including sub¬
sidiaries, shows: Profit and loss, surplus of $2,271,020 (against $945,974
Dec. 31 1917; cash, $2,858,391; inventories, $610,540; accounts and notes
receivable, $2,740,744; and among liabilities "initial payment by U. S.
Govt, accfc. of amoritzation," $4,000,000; mortgages and notes, none;
advances and accounts payable, $1,608,081.
REPORT.—For year ending Dec. 31 1917, V. 106, p. 2013, showed:
Sales
—$19,826,773 Taxes ($291,018) & extra¬
Net profits
ordinary
$729,738
$3,321,356
Income credits
152,506 Dividends (7%)
420,000
All interest, paid
334,627
Balance after divs. and extraord. deductions of $438,720
$1,989,497
OFFICERS.—G. H. Curtiss, Chairman; J. N. Willys, Pres.; W. W.
Mountain, V.-Pres. & Gen. Mgr.; J. E. Kepperley, V.-Pres. & Gen. Counsel;
C. M. Keys and W. B. Stratton, Vice-Prests.; R. W. Moore, Sec. & Treas.;
A. E. Sweetman, Asst. Sec. & Asst. Treas.
Directors.—G. H. Curtiss, C. M. Keys,
F. H. Russell, C. H. Conner,
Kepperley, W. W. Mountain, J.N. Willys, W. B. Stratton and A. H.
Office, Buffalo, N. Y.—(VT 107, p. 1387, 1483, 1923, 2011;
109, p. 778, 1277.)
J. E.
Marks.
V.
DAFOE-EUSTICE CO., INC., DETROIT—V. 109, p. 479, 1464.
DALLAS (TEX.; POWER & LIGHT CO.—See "Electric Railway Sec."
and V.
in the Government suit
N
REPORT.—Year 1918-19 in V. 109, p. 2355, showing:
Oross Sales for Fiscal Years ending Oct. 31—Net Earnings.
All ($).
1914-15.
1915-16.
1916-17.
1917-18.
1918-19.
Balance, surplus
—
April 1, 2K% each; in May 1920 two divs. of $1.75
per share were declared on the new $10 par value stock, payable
July 1
and Sept. 30 1920.
V. 110, p. 2196.
Co,
1H
S Mar 1 1937
M
Dividends—,,
In 1920: Jan. 1 and
&
j
Profits for the year
See text
Tr
issued, will retire at least $1,500,000 of these notes in each of the years
1919, 1920, 1921 and 1922.
V. 107. p. 294; V. 108, p. 2632.
plantations.
1920
Apr 1 1920
Q—J
erty and except "purchase money" obligations.
Compare V. 89, p. 719; v. 90, p. 910.
sugar.
Columbia
1 1937
?[uick (first paymentto was made July notes outstanding.of Annual sinking
und assets" equal
at least 200% of 15 1919, of 15%
the total notes
year
Bills
J Jan
sets, and will not issue, guarantee or endorse any other bonds, debentures,
ong-time notes or similar securities .except for acquisition of additional prop¬
1918-19.
$
129 Front St. N Y
do
do
New York
J15 Jan 15*203 K% 52 V anderbil t~ave," NY*
M
5 g
5 g
Pay able
Boston <5c Chicago
N Y, Boston & Chicago
15 1923
15'18,12% Checks mailed
15 July
text Dec
&
IK
are
Feb 10 1920 4%
3,053,000
3,386,900 6 In 1919
2.432,000
265,000
2.540,000
2,000,000
J
&
J
are
Sept. 30 1919, $16,712,303.
&
J&
7 g
8,500,000
1,500.000 See text See
Sept 30 *20
Where Interest and
Dividends
J Jan 1921
D Dec 1 1946
J
the sixth year, 104 during the seventh year, 103 during the eighth year,
102 during the ninth year and 101 thereafter, but the right of redemption
Total p. & I. surplus,
30 1919 $15,000,000
8 213.200
Places
See text
&
15,000.000
500 AC
shall not be exercised until not less than 60 days after the debenture bonds
shall have become convertible.
No mortgage may be created while any
REPORT.—For
Q—J
Q—J
J
eg
None 218,O0Oshrs
100
5,463,100
1912
Dayton Power & Light Co—Common stock $14,000,000—
Pref stock 6% cum callable at 110 & dlvs $0.000.000—„ —
Dayton Ltg Co 1st & Ref Mtge call 107 K assumed-Eq.c*
Dayton El Lt Co. 1st M call 107^ assumed
IC.c*
1st & Ref M $20 000 .000 sf call 105
K.c*
1st Hen & gen M 3-yr 7s auth $5,000,000 call text-Ce.xxx.c*
debentures
2,000,000
Dividend
and Maturity
J
$10 $10 000.000 See text
100
7,893,800 7 per ann
Cuban-American Sugar Co—Common stock
Preferred (a & d) stock 7% cumulative
First Lien g notes call 101. due f2.000.000 yriy.Cexxxxc*
Cudahy Pack Co-lstM$12.000,000sfcalU02^
c*&r*x
Sinking fund gold notes $10,000,000 call 101&int-IC.xxxc^
Cumberland Pipe Line Co—Stock $1,500,000 V. 105, p.502
Cumberland Telep Gt Teleg—1st & Gen M $15,000,000
authorized red text
Col.xc*&r
Curtiss Aeroplane & Motor Co—Common stock
these
Last
Date
Bonds
COMPANIES
MISCELLANEOUS
[For abbreviations, Ac
of
[Vol. 110.
INDUSTRIAL STOCKS AND BONDS
168
108,
p.
2332; V. 109,
p.
175, 274, 479.
DAYTON (O.) POWER & LIGHT CO.—ORGANIZATION.—Incorp.
In Ohio March 23 1911 and Is
supplying electric light and power In Day ton.
O., covering the entire city, also in numerous neighboring municipalities,
in the Dayton, Xenia, Piqua and Wilmington districts.
Divs. on pref.
stock from Oct. 1911 to Apr. 1920, incl., 6% per annum (1K% Q.-J.).
Initial div. on com. of 4% paid Feb. 10 1920.
In Feb. 1920 $576,000 additional pref. stock was listed on N. Y. Stock
Excb., making the total amount applied for $4,306,000.
First & Ref. M. 5% Ootids ($20,000,000 auth.; are callable at 105 on or
before Dec. 31 1936, and decreasing 1% for each succeeding year to 101 in
1940 and 1941.
(See V. 94, p. 282).
Columbia Trust Co., trustee.
V. 105, p. 822; V. 106. p. 824.
The 1st lien & gen. mtge. 3-year 7s (issued in part to retire $1,750,000
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 100K and int. thereafter to
Mar. 1 1922; and at 100>£ and int. thereafter.
Secured by pledge of
$2,667,000 1st & ref. mtge. 5s.
Ohio P. U. Comm. in Jan. auth. $576,000 6% bonds.
V. 110, p. 170.
REPORT.—For year ended Dec.
Calendar Years—
1919.
Gross
earnings
Total income
Charges, &c
Preferred
dividends
3i
$2,932,868
$1,093,498
660,288
193,561
Balance, surplus
$239,649
Pres., F. M. Tait; Sec. & Treas.,
Broadway.—(V. 110, p. 1092, 1293.)
1919, in V. 110, p. 1092, showed:
1918.
1917.
1916.
$2,43u,728
$802,079
500,163
179,553
$1,880,618
$624,407
305,979
177,750
$1,613,873
$620,531
235,964
175,938
$122,363
$140,678
$208,629
O. E. Howland.
N. Y. office, 80
see notes on
first page]
Par
Amount
Bate
When
Value
Outstanding
%
Payable
Deere & Co—Common stock $25,000,000
Preferred (a & d) stock 7% cum not callable
EC
Delaware Lack & Western Coal—Stock $6,800.000
Denver Qas & El Lt—Pref (a A d) stock 6% cum call 110
First A lief M $25,000,000 g red 105 s f
Ba.xxc*
E
1st M $8,000,000 g callable at 105 and Interest —
Lacombe Electric Co first mtge closed guar callable
Two-year collateral secured notes call 101
xxxc*
Detroit City tias—Stock $15,000,000 (V. 101, p. 3731
5% gold mortgage bonds $6,000,000 call 110
N.c*
General M $10,000,000 gold (see text) call 105.Eqxxc*Ar#
Detroit A Suburban Gas Oo 1st M gold red 103--—
c*
Detroit Edison—Stock to be $60,000,000 authorized
1st M $10,000,000 gold (V 77,p 2037; V 97. p 53)—_Q.xc»
First and Ref $75,000.000 auth Ser A red text. Bay c*Ar»
do
do
Series B
I
Debentures gold convert (ser 1924-25) subj to call
do
do
do
do
do
do
c*
yc»
c*
do
do
(series 1930) subj to call__c*
Eastern Mloh Edison 1st M $10,000,000g gu call 110-Eax
Diamond Match—Stock $18,000,000 (listed In Chicago & NY)
Dominion Coal—Pref 7% cum conv red at 125 (V 80, p 1732)
1st M g sink fund $79,000 yrly call 105 (V. 102.p. 1542) xc*
Additional $2,828,500 purchased and in treasury,
$100 bl7,904,400
100 a35,000.000
50
$6,590,700
100
1,217,900
1911
1,000
5.372.000
1903
100 Ac
6,458,350
1901
500
900,000
1920
1,000
2,000,000
100
9,500,000
1898
1,000
6,000.000
1903
1,000
4,000,000
1908
930.000
1.000
100 27.613,700
1903
1,000 £10,000,000
1915
500 Ac
16,665.000
1915
500 &c
10,000,000
10-15
100 Ac
150,600
1918
100 Ac
3,800,000
1919
100 &c
2,600,000
1920
100A1M
5.503,500
1906
1,000
4,000.000
100
16,985,100
(b)
1905
arifl
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 is held in voting trust expiring Nov. 1 1920.
Voting trustees, William Butterworth, W. L. Velie, Burton F. Peek, Geo.
W. Mixter and G. N. Peek of Moline, 111., and Charles C. Webber of
Minneapolis, Minn.
Outstanding common stock Dec. 31 1919, $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 1920 inch, \ %% quar.
Notes payable (Oct. 31 1919), $1,024,732; subsidiary co. stocks not
acauired. $2,000. and bonds and mortgages. $222,000.
REPORT.—Report for year ending Oct. 31 1919 in V. 110,
967:
p.
1918-19.
1917-18.
1916-17.
1915-16.
$6,555,807
$796,547
410,316
$7,980,152
$634,199
91,767
60,832
$5,851,130
$651,287
94,363
173,455
$4,783,081
$403,327
162,990
98,771
2,450,000
yl,335,277
650,000
2,450,000
Contingent reserve
Preferred dividends
(7%)
DELAWARE LACKAWANNA & WESTERN COAL CO.—Incorporated
June 30 1909.
Purchases coal produced by the D. L. AW.
In New Jersey on
sale (N. Y,
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.
RR. in Pennsylvania for 65% of the market value at time of
tidewater
price), assuming all transportation charges from
f'10.
DIVS.—
Regular
._%{ 10
%(
Extra
In 1920:
'11.
'12.
'13.
'14.
*15.
10
10
10
10
10
1917. 1918.
'19.
10
1916.
10
10
10
'20
See
20
10
50
10%1 Text Text
text
Jan., 5%; Apr., 2^%.
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 4>£s.
notes at par,
V.
105, p. 2368; V. 107. p. 184.
The CT. S. Supreme Court on June 211915 In the suit brought by the Gov¬
ernment held that the company under the contract of Aug. 2 1909, with the
D. L. A W. RR. violated the commodities clause of the Inter-State Com¬
merce
Act and the Sherman Anti-Trust Law.
A
new
contract will be ar¬
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: Coal sales, $38,376,486;
profit, $1,798,714; other income, $298,067; divs. (30%), $1,977,210: bal.,
sur., $119,571.
Pres.. J. F. Bermingham; Treas., J. J. A. Owens.
Office,
120 B'way, N. Y.—(V. 105, p. 2368; V. 106, p. 926; V. 107, p. 184.)
DENVER GAS & ELECTRIC LIGHT CO.—ORGANIZATION.—In¬
corporated in Colorado Nov. 29 1909.
In 1909 acquired the property and
franchises of the Denver City Steam Heating Co.
In 1911 acquired through
consolidation the Denver Gas A Electric Co. (which company had previ¬
ously acquired the property
of the Denver Consolidated Electric Co. and
the Denver Consolidated Gas
Co.), the Lacombe Electric Co. and the Den¬
Highlands Electric Co.
V. 92, p. 1502; V. 90, p. 112; V. 91, p. 41;
V. 74, p. 1359; V. 83, p. 154.
Has 20-year franchise from 1906. V. 98,
p. 1075.
Prices increased, V. 108, p. 83; V. 107, p. 1581; V. 106, p. 503;
V. 90, p. 449.
Court decision affecting rates. V. 109, p. 176.
Controlled
by Cities Service Co., V. 91, p. 656, 873, 1255, 1632; V. 92, p. 1245.
See
"Electric Railway" Section.
STOCK.—Common stock auth., $10,000,000, all Issued, over 99X%
owned by Cities Service Co.; par, $100.
Pref. stock auth., $5,000,000;
$1,500,000 sold in Feb. 1917 to retire the $900,000 Lacombe Electric bonds
by purchase or call and for improvements and additions.
Additional pref.
stock cannot be Issued unless earnings are twice existing dividend require¬
ments, including the stock proposed.
In Sept. 1919 dividends on the oomsbock had been uninterruptedly paid since 1907.
BONDS.—The "First and Refunding" 5s of
Denver Gas & El. Lt. Co
<$25,000.000 auth. issue) are callable at 105 in any amounts on any Int. dav.
Annual sinking fund, beginning 1910, an amount equal to 1% of outstanding
bonds; $8,900,000 can be used to retire $8,000,000 D. G. A E. bonds ana
$900,000 Lacombe Elec. bonds due 1921, but subject to call at a orcmlum,
guaranteed by Denver Gas A Eiec. Co.
V. 90, p. 112; V. 91, p. 656.
Dur¬
ing the year 1916 $4,269,000 of these bonds were sold, chiefly to retire the
$3,500,000 3-year 6% collateral notes due 1917 paid Oct. 1 1916.
V. 103,
p. 496; V. 102, p. 1062; V. 98, p. 1075.
1st M. of 1903, V. 100, p. 478; V. 82. p. 103: V. 86. p. 983* V. 102, p. 714,
In March 1920 sold $2,000,000 2-year 7% collateral secured notes, secured
by deposit of $935,000 Denver Gas A Elec. Co. gen. (now 1st) 5s, 1949; and
$2,720,000 Denver Gas A Elec. Light Co. 1st A ref. 5s, 1951.
V. 110, p.
ver
1191.
EARNINGS.—For calendar years (compare V. 104, p. 767,
1918.
1916.
1914.
Calendar Year.
1910.
866):
1919.
$3,140,965 $3,228,666 $3,667,614 $4,316,960
Net, after taxes. 1,149,255
1,423,219
1,523,732
1,461,867
1,726,196
Interest charges.
679,020
639,623
776,518
Balance
844,712
822,245
949,678
Chairman, Henry L. Doherty, 60 Wall St., N. Y.; Pres., Frank W.
Frueauff; V.-P. A Gen. Mgr., Wm. J. Barker.— (V. 110, p. 767, 1191.)
Gross from oper_$2,608,269
DETROIT CITY OAS.—Organized In March
A Traction Co. owns over
1898 and owns all the gas
a franchise till 1923.
The Amer. Light
99% of the stock. V. 82. p. 283, 989.
On Aug. 1
properties in Detroit, Mich.
Has
1913 acquired the physical property of Detroit A Suburban Gas Co., sub¬
ject to $930,000 20-year 5s due Dec. 1 1928. V. 97, p 731.
STOCK.—In Aug. 1915 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
also $1,792,000 as a stock dividend of 27.234% to represent earnings di¬
verted In recent years for additions,-Ac., making total outstanding stock
$9,500,000.
The stock div. was paid at once.
J Jan
1 1923
J See text
&
&
J
A
7
MA
5 g
M
V. 101. p. 373. 616.
Co,Deny
Checks mailed
text
Emerson
N
McMHUn,
Y
Emerson McMillin A Oo
D Dec 21 1928
Citizens S A Tr Co, OleT
8 In 1919
Q—J
July 15 1920 2% Checks mailed
J
5 g
A
J Jan
1 1933
NoAmOo,30BroadSt.NY
MAS July 1 1940
do
do
5 g
do
do
MAS July 1 1940
6g
do
do
6 g
Various Var. 1920-25
J A J 15 Jan 15 1928
do
do
7
F
A
A Feb 1 1929
do
do
7
By oheck from N Y Office
do
do
May 1 '20
MAN May 1 1940
Q—F
N E Tr Co, Bost A Mont
contracts
mployees under
BONDS.—Of the General M. 5s of 1903
do
do
1 1931
June 15 '20
re served fo rsale toe
do
do
S Mar 1 1930
N Nov
&
Q—M
8 in 1919
($10,000,000 authorized Issue)
$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
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.
N. Y. Stock Exchange, V. 79. p. 102.
p.
97, p. 1206, 1826.
Statement to
1915-17 averaged more than
IX times the Interest charges on the total bonds outstanding.
Sales of
gas (cubic feet), 1917, 9,443,407.800; 1916, 7.991,707.600; 1915, 6,492,EARNINGS.—Net earnings for three years
922,900.—V.
106,
p.
1038.
OFFICERS.—Pres.. Emerson McMillin, N. Y.
Gen. Mgr., O. W. Ben¬
nett, Detroit, Mich.—(V. 106. p. 824,1038.)
DETROIT EDISON
CO.—ORGANIZATION.—Incorporated In Jan.
1903: owns capital stock of the Edison Illuminating Co. of Detroit, Penin¬
sular Electric Light Co., Inc.. and Delray Term. RR. Co.
Serves Detroit
and suburbs, Ann Arbor, Ypsilanti, Mt. Clemens, Monroe, Port Huron and
other towns and rural districts. V. 106, p. 707,1580; V. 109, p. 1277, 1529.
auth. capital stock was increased from $25,000,000 to
The outstanding stock on Mar. 31 1919 was $25,728,700.
STOCK.—The
$35,000,000.
V. 104, p. 562, 1267.
The stockholders voted Nov. 24 1919
the auth. capital stock from $35,000,000 to $60,000,000. and
2,647,995
2,518,455
$2,384,987
Total surplus
1111 Isi 51039 ^769
x After
deducting all expenses for depreciation
111
A Co, N Y
do
H L Doherty
do
N Y,or Inter Tr
Issue of $10,000,000 additional conv. deb. bonds.
51,469,998
$2,413,570
$'l2!232i592 $9,847,605 57,434,035
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.
OFFICERS.—Pres., Wm. Butterworth; Sec. A Compt., T. F. Wharton;
Treas.. Geo. W. Crampton.
Office, Moline. 111.—(V. 110, p. 967.)
$2,807,177
Balance, surplus
•I
J
5g
farm Implements and
238, 299.
In March
1918 purchased Waterloo (Iowa) Gas Engine Co., manufacturer of tractors
text See
See
5
6,016,500
$3 ,668,400
(ALFRED) DECKER & COHN, INC., CHICAGO.—V. 109, p. 1528.
464,857
text
Ac
DEERE & CO.—ORGANIZATION.—Business founded In 1837; lncorp.
Depletion, Ac
Federal taxes
7
7
500
Payable
are
June 1 '20 1 % % Co's Offloe,
Mollne,
Apr 15 '20 2X % Cheoks mailed
Q—J
April 1925
M
A
N May 1 1951
M &
N May 11949
M &
N May 1 1921
Mj&U S Mar 1 1922
5 g
5
3.000.000
Addit tlonal
Dividends
Maturity
Mthly
5 g
See
and
Q—M
text
6
100
In 1868 and again in 111. In 1911. Manuf.steel plows,
vehicles.
V. 92,p. 959, 1245, 1313, 1502; V. 95, p.
xTotal earns, (all cos.)__
Admin., Ac., expense
Int. on deb., Ac. (net)__
7
See
Places Where'Interest and
Last Dividend
Date
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c.,
(a)
169
INDUSTRIAL STOCKS AND BONDS
May, 1920.]
DIVIDENDS.—
f
4%
to increase
to auth. the
1795.
1916 to July 1920
1911-15.
1910.
1909.
\
V. 109,
8yrly(2%quar
(interest
$10,000.000 1st M. 5s and $4,000,000 East. Mich. Edison Co. 1st M. 5s, and to pro¬
vide add'l capital when needed.
Callable until Mar. 1 1930 at 107)4, then
to Mar. 1935at 105, thereafter 102H.
V. 100, P. 2169; V. 102.p..1990; V.
103. p. 2240; V. 105, p. 74; V. 106, p. 2563, 2652; V. 109, p. 1277, 2360.
From 1910 to 1915 issued $9,000,000 6% 10-year convertible bonds, call¬
able at 105; of these to May 1920, $8,849,400 had been converted into
Percent
7%y'ly
5%
BONDS.—The Refunding Mortgage of 1915 is for $75,000,000
rate to be fixed at time of issue), to retire at or before maturity the
stack, leaving $150,600 outstanding.
An issue
requires,
or
was
occasion
Dec. 18
$9,000,000 convertible bonds, for use if and when
authorized Nov. 22 1917 and shareholders of record
1917 were permitted to subscribe at par for the Initial $3,800,000 10-year
Debenture 7s.
These bonds are convertible between Jan. 15 1920 and July
1927 into stock, $ for $, and are subject to call Jan. 15 1923 to Jan. 15
1926 at 105; thereafter at 102 and int. (but still convertible if called).
Eastern Michigan Edison Co. 1st M. bonds are callable at 110.
Stockholders of record Dec. 31 1918 were permitted to subscribe at par
15
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;
subscriptions payable either in full on Feb. 1 1919 or Feb. 1, 50%, May 1
25%, and Aug. 1 25%. 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 Fee). 1 1923 to Jan. 31 1927 at 105 and int., and
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. 264.
Offering by Coffin A Burr and Spencer
Trask A Co., V. 110, p. 973.
REPORT.—For cal. year 1918. V. 108, p. 475,
Calendar
Gross
Net, after
Interest
Other
Years. Earnings.
Taxes, Ac.
Charges.
Deduc'ns.
1919...$16,498,391
1918— 13,801,527
$4,278,318 $1,721,582
3,747,990
1,353,767
1917,- 12,279,926
3,664,410
10,066,786
3,795.693
1916---
A dividend
declared in Jan.
1,028,562
_
J
Balance,
Dividends
(8%).
^urpius.
$2,058,531 $498,204
240,186
2,055,625
98,413
396,616
1.966,905
272.328
1,078,280
881.508
1.487.721
348.185
($513,832) was deducted from profit
1918
and loss for 1917. *
OFFICERS.—Pres. A Gen. Mgr., Alex. Dow; Vice-Presidents, Alfred
Jaretzki, N. Y.; Alfred C. Marshall and James V. Oxtoby, Detroit; Sec. A
Treas., James F. Fogarty, N. Y.; Offices, 30 Broad St., N. Y.; ^Washing¬
ton Ave., Detroit.—(V. 109, p. 1277, 1529, 1795; V. 110, p. 264, 364, 973,
2196.)
DETROIT PRESSED STEEL CO.—(V. 110, p. 564.)
DIAMOND
Feb.
13
MATCH
CO.—ORGANIZATION,
1889 in Illinois as successor to a Connecticut
Ac.—Incorporated
corporation.
Owns
Mass., N. EL, Vt. and Me., and has extensive
holdings of timber lands in California; owns match factories located at
Oswego, N. Y.; Oshkosh, Wis.; Barberton, O.; Chico, Cal.; Savannah, Ga.;
machine ship and foundry at Barberton, O.; paper board mill at Southford,
Conn.; block factory at Spokane, Wash., together with plant employed in
lumber operation in California consisting of saw mills, power plants, logging
railroads, equipment, rolling stock, retail lumber yards, Ac.
Owns hold¬
ings of pine lands in Maine, Mass.. N. H., Vt. and California, and conducts
selling branches in N. Y., Boston, Chicago, St. Louis, San Francisco,
At¬
lanta and New Orleans.
Is interested in the match business of Great
Britain (V. 108, p. 1821) and Peru.
tracts of timber lands In
STOCK.—Of the $2,000,000 6%
convertible debentures Issued
$1,034,900 had on or before Dec. 15 1916
mainder, $965,100, converted into stock.
DIVS.—
11896 to 1908. '09. TO. *11.
Since 1893%\ 10(2)4quar.)
8
6
6
In 1910.
been bought in, and the re¬
T2-T5. *16, '17. *18.
7 y'ly
7% 9
8
'19. 1920.
8
text
Sept. 1917 to June 1920, 2% quar.
ANNUAL REPORT—Report for 1919 in V.
Calendar Years—
1919.
1918.
Bryant A May stock
Balance, surplus
Total surplus
110, p.
div-
1,264,940
$5,637,925
2,309,440
550,000
1916.
$2,925,806
1,295,685
1,103,098
279,475
$3,679,167
1,357,208
Dividends
—V.
110, p. 1413.
1917.
194,400
Earnings
—$3,556,398
Gen., Ac., deprec. reserve
882,883
Reserve for inc. taxes, Ac.
500,000
564.
1,357,208
526,859
1,314,795
$816,307
$2,265,787
$701,419
$1,449,480
$978,003
$748,060
$1,315,326
$520,056
INDUSTRIAL STOCKS AND BONDS
(70
MISCELLANEOUS COMPANIES
Date
Par
Amount
Bate
When
IFor abbreviations, Ac., see notes on first page]
Bonds
Value
Outstanding
%
Payable
Dominion Iron & Steel—Pref stock 7% cum convertible
First mtge gold subject to call at 110 sinking fund
1899
_z
Consolidated mortgage $20,000,000 auth red 105
1909
—.z
Dominion Steel Corporation—Com stock auth $50,000,000..
Pref stock 6% cum red 110. Convert, by holder Into com..
Cumberland Ry A Coal Co 1st M $3,000,000 g guar
1910
Drlggs-Seabury Ord Corp—See Savage Arms Corporation.
Duluth Edison Elec—Com stk $1,000,000 auth (V 80, p 1533)
Pref stock $1,250,000 (auth a A d) 0% cum red 120
First mtge $2,000,000 gold red 105 sinking fund
1900
OB*
(EJ) du Pont de Nemours & Co—Com stock $80.000,000..
Debenture stock 6 % red at 126% cum voting $10,000,0001
do
do
do
non-voting $150,000,000
f
(E I) du Pont deNemours Pow(old co)—Com stk($2,942,728)
Preferred (a & d) stock 5% cum (see text) $10,008,301—.
Bonds (not M) $16,000,000 g red at 110: opt V 95,
1900
p 909.x
du Pont Bldg Corp 1st M $1,500,000 e fnt <ru red 110 .xc*
1910
Durham Hosiery Mills—*Com Class "A" auth $1,250,000—
[VOL. 110.
Last
Dividend
Places Where Interest and
Dividends are Payable
and Maturity
$5,000,000 7 In 1919
Q—J
Apr 1 '20 IX %
J
&
J July 11929
Bank of "Montreal," Can
6.237,000
M
&
S Sept 1 1939
7.262.527
*
See text 6 in 1919 See
text Apr 1 1920 IX
do
do
6
May I 1920 IX Can. Bank of Commerce
7,000,000
Q—F
A
A
O Oct 1940
5 g
1.142.000
Montreal, Canada
$100
iK
%"&'£
100
"T.ooo
100
100
500,000
1.150,000 0 in 1919
Apr 1 1920
Q—J
IX Guaranty Tr, N Y
5 v
MAS Mch 1 1931
- Old Colony Trust Co, Boe
68,854,200 18!nl919 Q—M 15 Mch 15 '20 4X Checks mailed
6
do
60,813.950
Q—J 25 Apr 26 *20 XX
1,000
al .177.000
100
100
....—
Common Class
Preferred, 7 %
a
10
100
100
50
"B", non-voting, auth $3,260,000
cum
1,250,000
3,252,850
3,000,000
100
(a A d) call 120, auth $5,000,000
See text
IX Checks mailed
do
1H
Guaranty Trust Co. N T
See text
See text
See text
See text
1'20
1 '201
1 1936
1 1940
May 11920, IX
Q—F
Held alive In sinking fund $433,000.
OFFICERS.—Pres., W. A. Fairburn; V.-Pree., T. J. Reynolds, H. CCranz; Sec., H. F. Holman; Treas., N. C. Johnson. General offices, 110 W«
Kinzle St., Chicago.
N. Y. offices, 111 B'way.—(V. 110, p. 564, 1293,
1413.)
•,
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. & Coal Co.
Cumberland Ry.
A Coal Co. owns coal areas near Glace Bay, N. 8., and road Springfield Jet.
to
2.942.728 0 in 1919
0—F
May
269,401 5 in 1919
Q—F
May
J
A
D June
1,060,000
J
A
5 e
D June
1,500,000
1,000
1,000
Parrsboro, N. 8., 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.
For stocks of subsidiaries owned
p.
as
of Dec. 31
1919.
see
chart, V. 110,
985.
The du Pont Chemical Co,
was
chartered Dec. 12 1918 in Delaware with
capital of $6,300,000 at the instance of the du Pont interests to engage
in the dyestuff business. V. 108, p. 174: V. 100, p. 1034.
The plan of June 1919 for exchange of stock for stock of Du Pont Secur¬
a
ities Co.
was dropped because of possible effect of Income Tax law.
778; V. 108, p. 2435.
p.
V. 109,
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
In April 1919 the Dominion Iron A Steel Co., at the instance of the Cana¬
on
Oct. 10 1917 decided to forego the right to acquire
com-
dian
Govt., stopped construction work on the $3,500,000 rolling mill
capable of producing annually 150,000 tons of steel plates for ships which
were to have been built under Government guaranty, ensuring a return on
the investment. 8ee V. 100. p. 1404; V. 107, p. 85, 1387; V. 108, p. 2431.
During the four years ended April 1 1919 approximately $11,500,000 was
expended for new construction and acquisitions, all from earnings. V. 108,
p. 2431.
Merger Plan.—See British Empire Steel Corp., V. 110, p. 1975.
STOCK.—Common, $50,000,000 auth.; outstanding, $43,000,000, of
which $5,000,000 held by constituent companies; par
$100.
$5,902,300
stock issued in exchange for Dominion Iron A Steel Co. stock, V. 110, p. 662.
DIVS.—
On
1912
4
common.
1913
4
1914
1
1915-10*
nil
1917.
3
1918
1919
1920
5
6
IX,IX-,-
On preferred. In full to May 1920
In Jan. and Apr. 1920, 1 X% quarterly.
REPORT.—For year end. Mar. 31 1919, V. 108, p. 2430 shows:
1918-19.
1917-18.
1916-17.
1915-16.
Net
earnings—
*$8,708,054*$11,030,112 $12,967,874
1,304,323
1,384,242
1,859,595
1,013,263
1,064,210
1,230.203
Discount on bonds
326,909
Pref. dlv. (subsidiaries)_
560,000
560,000
560,000
do arrears, D.I.&S.Co
(7)350,000
do (corporation)
420,000
420,000
420,000
Common dividend— (5M) 1.765,374(4X) 1444390
(1)320.977
Reserves
y8.500,000
Depreciation, &c
Interest
$7,004,316
1,192,823
1,590,085
226,181
560.000
4
for yr.._def.$4.794,906
$6,157,264
$7,900,188
$3,015,225
♦After deducting Government taxes,
y Includes $1,000,000 for Govt,
Pres., Roye M. Wolvin.—(V. 110,
p.
Chairman, Mark Workman;
662, 874, 1293.)
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., IX % quar.).
Adjustment of
coal areas.
V. 108, p. 2244.
Output for year ending Mar. 31 1919, 3,622,644 tons, against 4,279,772
tons In 1916-17.
Bonds (Royal Trust Co., Montreal, trustee), see V. 80.
P* 1481, 1732; V. 88. p. 1562. 1624: V. 89. p. 106.
Coal 6% debs.. $3,500.000; see Dom. Steel Corp. above.—(V. 106, p. 1580; V. 108, p. 2244.)
Dominion Iron & Steel Co.—Works at Sydney. Cape Breton;
daily ca
paclty 1,000 tons of steel.
Owns six blast furnaces, open-hearth plant,
billet mill, blooming mill and rod mill.
See V. 79. p. 2203.
Rail mill,
700 tons dally capacity. Reputed capacity, 400,000 tons of finished steel
V. 77, p. 149; v. 81, p. 1549; V. 90, p. 1042; V. 92. p. 1433
1319; V. 97, p. 1586.
The serai-ann. dlv. on pref. stock due Oct 1
deferred.
In Apr. 1910 dividends were resumed at the regula*
per annum.
1914
p.
was
rate of
3X% semi-annually. V. 102, p. 1063. In July 1916, 7%
werepaid. 1917, April and Oct., 3X%: 1918, Apr. and Oct., 3X%paid quar., Jan. 1 1919, to Apr. 1920, IX %■
BONDS.—Of
bonds.
p.
p.
p.
V. 87,
1698; V. 97.
arrears
Divs.
$20,000,000 consols,
sufficient reserved for uuierivlng
99: V. 83, p. 1064. 1315, 1624; V. 89, p. 106.—(V.' 96.
804.
See above.
V. 106, p. 1464,1581; V. 107, p. 85.
DONNER STEEL CO.. INC.—V. 109.
p.
1795; V. 110,
in Minnesota In 1906 as successor of the Duluth
General-Electric Co.
Has
unlimited franchise and 10-year contract with Great Northern Power
Co.
expiring in 1927 to provide
power on advantageous terms.
V. 82, p. 572.
DIVIDENDS.—On pref., 1X% quar., July 1900 to Apr. 1 1920, lnol.
BONDS.—Of the bonds ($2,000,000 authorized Issue), the unissued
Konds are Issuable for 80% of cash cost of additions and
Improvements
oiovlded for 12 months preceding net
earnings shall have been twice the
B ntereet on all bonds out and to be issued.
See V. 82, p. 672.
EARNINGS.—Statement for year ending April 30 1915 (latest available)
In V. 101, p. 133 showed: Gross, $510,713;
net,$188,929; interest, $67,650:
•Ink. fund, $25,000; pref. div. (6%), $09,000; bal.. sur.,
$27,279.
Pres., A. W. Hartman, Duluth, Minn.; V.-Ps., D. F. McGee, N.Y., and
O. E. Van Bergen, also Sec., Duluth,
Minn.; Trees., T. O. Hartman.
Duluth,.Minn.; Asst. Sec., E. P. Summerson, and Asst. Treas., William
Reiser, both of New York.—(V. 101, p. 133; V. 106, p. 818.)
.
E. I. DU PONT DE NEMOURS & CO. (of Dels.)—Incorporated
in
Delaware on Sept. 4 1915 and an Oct. 1 1915 succeeded to the
ownership of
•Jl the properties of the E. I. du Pont de Nemours Powder Oo. of N
J
change in the management
ard without creation of bonded debt or fixed charges.
In Dec. 1915 pur¬
chased the Arlington Co. of N. J. for about $6,500,000.
V. 101, p. 1888
Um May 1917 had acquired from the Government of Chile two large nitrate
fields in the northern part of that country.
V. 104, p. 1902; Y. 106, p. 1034.
In 1917 built at Deepwater, N. J., an extensive plant for manufacture of
tpal tar dyes. V. 105, p. 610. The plant at Hopewell, Va., was closed in
liov. 1918 because of cancellation of orders due to end of war.
V. 107, p.
2100; V. 108, p. 174.
In 1917 purchased the property of Harrison Bros. A Co., Inc., and other
ompanies and had made substantial progress In the manufacture and sale
of fabrikoid. pyralin, lacquers, solvents, dyes and a
variety of chemicals,
against the day when there will be less call for munitions.
V. 106, p.
1034, 1347.
Export Co., V. 107, p. 2292; V. 108, p. 83, 174, 1392.
In
Oct. 1918 purchased New England Paint & Varnish Co. of
Everett, Mass.
V. 107, p. 1671.
Confusion of names.
V. 109, p. 75.
The company in Dec. 1919 owned 238,504 shares of General Motors
Corp.
common stock and 159,115 shares of Chevrolet Motor Co. common stock.
V. 110, p. 984.
These shares are held
Industries, all of whose stock is owned.
Trust
Rights of Debenture Stock.—Except as to voting powers the rights of both
debenture stocks will be identical.
All debenture shares will hear 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 Hen may be plaoed upoa any of the
property without the consent of 75% of the total debenture sleek eutstanding, but this does not apply to purchase money mortgagee or liens upon
property purchased, or collateral loans for cash advances in the ordinary
coarse of business, provided they do not run more than three
years.
The
voting deb. stock has equal voting rights with the coramea stock.
The non-voting deb. stock has no voting privileges
except that (a) in
case of default for 6 mos. in the payment of any dividend
thereon, the voting
and non-voting debenture stockholders will have the sole right ef 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 Ism 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 equal 9% on the debenture stock. V. 101. p. 616 848,1275.
DIVIDENDS (%)—
Regular, cash
Extra, cash
do
1916.
1917.
1918.
1919.
1920.
18
18
18
4X,-,-,1 RedCross 2 RedCross
1 UtdW.Wk.
6
36.3
do
Anglo-French bonds..abt. 57.7
U. S. Liberty bonds
du
Pont Chemical
__
32
__
Co.
pref. stock (par $5).
5
,
__
REPORT.—For cal. year 1919 in V. 110, p. 984.
1919.
1918.
$
1917.
$
1916.
-
$
$
Gross from sales
105,437,932 329,121,608 269,842,465 318,845,685
Net, after amortization. 11,620,953
47,221,368
49,112,953
82,013,020
Profit & loss items
Cr.6,062,039De&.4,123,293 Cr,145,709
Cr.94,673
Debenture stock divs.(6%)3,648,822
3,648,822
3,648,822
3,648,222
Common stock div
10,593,756
15,302,092
30,015,042
58,854.200
Rate per cent
(18%)
(26%)
(51%)
(100%)
Divs, on sub. co. stocks.
841
6,664
6,450
Total deductions
Surplus for the year
Accumulated surplus
8,180,539
3,440,414
18,951.755
24,146.319
71,741,304
68,300,891
33,671,128
15.587,534
44,154,571
62,508,872
19,598,821
28,567,038
OFFICERS.—President, Irenee S. du Pont; Chairman of Board, Pierre S.
Pont; Vice-Presidents, H. M. Barksdale, E. G. Buckner, Frank L.
Connable, J A. Haskell, Charles L. Patterson, H. G. Haskell, Frank G.
Tallman; Lamraot du Pont, H. F. Brown, R. H. M. Carpenter. William
Coyne, John J. Raskob, F. W. Pickard, Charles A, Meade, W. S. Car¬
penter, Jr., J. B. D. Edge, A. Felix du Pont, William C. Spruance and
Charles A. Patterson: Secretary, Alexis I. du Pont; Treasurer, F. D. Brown.
du
p. 1751.
DULUTH EDISON ELECTRIC CO.—ORGANIZATION.—Incorporated
(per plan in V. 101, p. 610, 690, 848). with
V. 107, p. 1484; V. 108. p. 976, 2025, 2332.
.
sur.
taxes and construction expenses.
Total surplus March 31 1919, $19,459,252.
V. 94,
Stock ownership suit.
suit, V. 107, p. 2292.
,
420,000
—
Bal.,
1107,
1581.
.
DIRECTORS.—F. D. Brown, H. F. Brown, E. G. Buckner, R. R. M.
Carpenter, Walter S. Carpenter, Jr., Frank L. Connable, William Coyne,
A. Felix duPont, Alexis I. duPont, Eugene duPont, Eugene E. duPont,
H. F. duPont, Irenee duPont, Lammot duPont, P. S. duPont, Chairman,
3. B. D. Edge, H. G. Haskell, J. A. Haskell, J. P. Laffey, C. A. Meade,
Chas.
A.
Patterson, Chas. L. Patterson,
F.
W. Pfckard, H. M. Pierce;
F. G. TallmaD, V. 109,
John J. Raskob, Charles L. Reese, W. C. Spruance,
p.
778; V. 110,
p.
984; V. 110, p. 2196.)
E. I. DU PONT DE NEMOURS POWDER CO.—ORGANIZATION.—
Incorporated in N. J. May 19 1903. V. 85.
p.
1386. 1029, 1698; V. 95,
p.
p.
342; V. 92.
51, 113, 969; V. 97.
p.
1901.
1704; V. 94,
On Oct. 11915
p.
the (E. I.) du Pont de Nemours A Oo. purchased this company.
Common stock reduced to $10 par in Jan. 1918 and dividend paid of $90
per
share.
V. 105,
p.
2001.
DIVIDENDS.—From Feb. 1916 to May
on common
shares.—(V. 105,
p.
2001.)
1920. incl.. paid \X%
V. 110, p. 2198.
(quar.)
DUOUESNE LIGHT CO.- -See "Elec. Ry." Sec. and V. 108, p. 2429,
2632; V. 109, p. 176, 891. 984.
no
through the du Pont American
DURHAM HOSIERY A1ILLS.—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. C., Carrboro, N. C.,Goldsboro, N. C., and Mebane, N. C. Also owns 97.1 % of the capital stock of the
North State Knitting Mills, Inc., with property situated in Durham, N. C.
CAPITAL STOCK.—Authorized, $5,000,000 7% cumulative
preferred,
$1,250,000 common Class "A," $3,260,000 common Class "B."
Out¬
standing, $3,000,000 preferred, $1,250,000 common Class "A," and $3,252,850 common Class "B."
Par value, pref. $100, Class "A" $100,
Class "B" $50.
Preferred stock is redeemable at 120 and has no voting
power except in the 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 is provided for.
Preferred as to 120% of assets
in
of dissolution.
Common Class "B" stock has no voting power.
891.
preferred stock was called for retirement in Aug. 1919, and there
remains outstanding $627,000, to provide for the redemption of which there
is on deposit in escrow with the Chemical Nat. Bank of New York, $733,590.
V.
case
109, p.
The old
Mat
1920 I
INDUSTRIAL STOCKS AND
171
BONDS.
Date
Par
Amount
Rate
When
Last Dividend
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, Ac., see notes on first page)
Value
Outstanding
%
Payable
and Maturity
East Ohio Oas Co—Common stock
Preferred stock 7% cumulative
$100 $28,039,000 10 n *19
100
10.000,000 7 in 1919
19.563,400 401nl919
-—
Eastman Kodak—Common stoek 525.000,000
Preferred (a & d) 510,000,000 6% cumulative
Edison Electric Ilium Co. Boston—Stock
Boston El Lt Co 1st Consol Mtge g
22,528,000 12Inl919
100
— —
See text
Q-J
Q—J
Q—F
6
6.165,700
1894
500 &c
Coupon notes callable on 4% basis
OB 1917 1,000 See
1917
1,000
Two-year gold notes J3.000.000-.
1,000
Pour-year gold notes J3.000,000
c* 1918
Three year gold notes $6,000,000
1919
1,000
c
Edison Electric illuminating—See Kings County Electric Llg bt & P ower and
None
Eisemann Magneto Corp.—Com. stock 30,000 shares—
Pref. stock 7% cumul. s. f. red. 110 auth. $1,500,000
100
100
Electric Storage Battery—Stock ($87,500 Is preferred—text).
New
30,000 sh.
7
1,500,000
16.619.425 5 In 1919
Elk Horn Coal Corp—
Com stk 6%&partlc$22,000,000($10.000.000)conv
Pref stock 6%
and participating red at 56
1915
1.000
1913
100
DIVIDENDS.—Dlvs. on the pref. stock are payable quar., Feb. 1, &c.
1912.
1913-17.
1918.
1919.
Common, Class "A"
7X
7 yearly
12
12
Common, Class "13"
6X
12
Feb. 1 1920 paid 4% on com. "A" and 4% on com. "B;" Apr. 1 1920, paid
1H% quar. and X% extra on com. "A" and "B".
6 Mos.
9 Mos.
Year
EARNINGS.—
Dec. 31 '19.
1919.
1918.
Net sales
$6,725,339 $10,154,823
$8,633,634
Gross profit on sales..
1,269,867
1,015,704
1,689,753
Net profits$667,824
$452,828
$789,499
&
F
6 g
Gas C
S
D Feb
D Dec
&
&
o
Roohester, N Y
of New
Q—P
Q—J
Lond
S»
Old Col Tr Co, Boston
do
do
11922
1 1919
A Aug 1 1922
Feb 1 1922
do
do
Boston
York
May 1 *20 1#
Apr 1 1920 2#
5g
426,000
10.132.500
12,170,500
100
Preferred stock (a As d) 7% cum red 115 (text)
&
Itext Q—M 10 Sept 11 *19,
6.600,000 6 In 1919 Q—M 10 JunelO '20.
J
A
D Dec 11925
6.476.000
50
—
s f g conv notes call 105 & lnt any lnt date $9,500,000
Mineral Fuel Co 1st M sinking fund
Enter son-Bran tingharo Co—Common stock 530.000,000...
Ten-yr
&
J
J
?f
6,000,000
50
of notes
M
lg
Consoildat ed
Payable
are
do
do
July 1 1920 1#
May .1 1920 3% By check
State Street Tr, Boston
Sept 1 1924
12,000,000 See
1,250,000
10,000.000
3,000,000
3,000,000
---
Dividends
Q—J
/KM)
100
Where Interest and
Places
Checks mailed
IX
IX
Guaranty Tr Co, N
~Y
May 11943
May 1 1920 1X Checks mailed
Q—P
EDMUNDS & JONES CORP.—(V. 109, p. 772, 1990; V. 110, p. 767.)
...
EISEMANN
MAGNETO
CORP.—ORGANIZATION.—Incorp.
In
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
seized by the Alien Property
was
Matthies of Seymour Conn,
Manufactures
over
------
OFFICERS.—J. S. Carr Jr., Pres.; A. H. Carr,
C. M. Carr, Treas.; W. F. Carr, Sec. & Asst. Treas.
V.-P. & Asst.
Sec.;
DIRECTORS.—J. S. Carr Jr., W. F. Carr, C. McD. Carr, W. J. Berry
and Gen. Julian S. Carr. Durham, N. C.; N. K. Toerge and Thomas Hildt,
New York.
Main office, Durham, N. C.—(V. 110, p. 564, 1529.)
EAST BUTTE COPPER MINING
CO.—(V. 110, p. 767. 1092, 1529.)
1645, 2079.)
EAST COAST
p.
FISHERIES CO.—(V. 109, p. 984, 1702, 1990; V.110,
1191.)
at Coke Co
(estab. 1846) and the People's Gas Lt. Co. (estab. 1808).
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. 96, p. 421.
Controlled by former Standard Oil Interest*.
V. 90, p. 3756.
Owns the common stock of Akron Gas Co. and operates the property
under lease without assuming any of Its liabilities.
A rental of $20,000 is
paid annually which is equivalent to paying the interest on the $400,009
5% bonds of the Akron Co. due Oct. 1 1947 (V. 66, p. 234).
The lease ex¬
pires Oct. 1 1947 but may be canceled at any time on 6 months notice by
the lessee.
The Akron bondholders have waived all sinking fundjprovlslons,
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 Ohie
P. tJ. Commission having sanctioned the issue of $20,009,000 additional
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, 1809.
The
Akron Gas Co.$400.000 5s. due Oct. 11947 (V.66, p.234) and $396,366 deb.
5s. due 1921.V. 95. p. 682, 969, 1334; V. 96, p. 364, 421; V. 97. p. 1118.
common
EARNINGS.—For
cal.
year
1919: Gross,
See "EL Ry. Sec." and V. 109.
Buffalo on Jan. 18 1916, In the suit for alleged violation of the Shermaa
it to be understood that if the company did not,
shortly present a plan for a division of its business so as to restore
competitive conditions, the Court would undertake the task.
Affairs are
In statu quo pending an appeal to the U.S. Supreme Court.
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, p. 1755; V. 105, p. 2098; V. 106, p. 90; V. 107, p. 1671.
Pat¬
ent suit settled, V. 102, p. 1062; V. 98, p. 841. 1002. 1159.
Stock bonus to
employees, V. 108, p. 1514.
Suit lor $3,000,000 damages dismissed,
V. 110, p. 973.
Extra Dividends on Common Stock (Additional to 10% per an., 2 J-f % Q.-J-)
Year—
'05. '06. '07. '08. '09. '10-T3. '14.
15. *16.' 17. 'it. '19.
2
7X
10
15
20 30 y'ly 20
50
40
40 27X 30
Apr., 7X%\ June, 5%; July, 2#%.
Extras in 1920: Jan., 7#%;
REPORT for cal. year 1919, lncl. sub. cos. (V. 110, p. 2187),
Calendar
x Net (after
Pref. Divs.
Common
Balance,
showed;
Total
Depreciation.)
(6%).
Dividends.
Surplus.
Surplus.
1919
$18,326,188 $369,942
(40)|7,819,110$10,137,136 $42,008,907
1918
$14,051,969 $369,942 (45) $8,792,280 $4,889,747 $31,871,771
1917
14,542,567
369.942
(30)
5.861,520 8,311,105
26,982,024
x Figures are after deducting war taxes.
Pres., George Eastman.
Office, Rochester, N. Y.—(V. 110, p. 767,
973, 1529, 2187.)
EDISON ELECTRIC ILLUMINATING CO. OF BOSTON.—ORGANI¬
ZATION.—Incorp. In 1886.
Does entire electrlo-Mght business of city.
88. p. 1132; V. 94. p. 1190; V. 95. p. 422.
V. 81. p. 157; V. 88. p. 454; V.
DIVIDENDS— (1903-06.
Since 1901
%\10 yrly.
1907 to
10
1909.
rly. & 1 ext.
1910.
1911 to May 1920
11#
12 p. a. (3% Q.-F)
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.
Real estate
mortgages June 30 1919, $1,891,000.
V. 83, p. 1101; V. 84. p. 934; V. 96.
p. 1125.
EARNINGS.—Year ending June 30 1918, V. 105, p. 1577. showed:
Gross.
Net.
Other Inc. Int.&Tax. Div.(\2%) Bal.,Sur.
Year—
$
$
$
$
$
$
1916-17
1915-16
1918-19.
1917-18.
1916-17.
1919.
DIRECTORS.—Joseph A. Bower, Abram I. Elkus, Jacob S. Earlee,
S. Jerome (Treas.), Raymond E. Jones, George E. Matthies,
Horace A. Moses, Latham R. Keed, WilliamN. Shaw (President).—(V. 110,
p. 1853.)
Franklin
ELECTRIC
BOND
&
SHARE
CO.—(V.
108,
p.
2244, 2332.)
ELECTRIC STORAGE BATTERY CO.—Incorp. in 1888 in N. J.
Owns basic patents for storage batteries.—(V.69,p. 76,850; V. 105, p.1212.)
STOCK, &C.—Stock authorized, $18,000,000: outstanding, pref. 1%
$87,500; convertible into com. stock, share for share; common stock,
$16,561,925, including $400,000 issued In July 1919 in settlement of profit
particpation certificates.
V. 109, p. 681. After 1% on pref., com. and
pref. share equally.
On com., 1901 to 1907, 5% yearly, 1908, 3#%;
1909, 3#%; 1910 to 1918, 4%; 1919, 5%.
In Jan. 1920, and again in
April 1920, paid 2#%.
V. 109, p. 984.
■
EARNINGS.—Statements for calendar year 1919, in V. 110, p. 1181:
Cal.
Gross
Net
Other
Res. for
Balance,
cum.,
_
Year—
Sales.
Earnings.
Income.
Surplus.
Divs.Paid
Fed. Tat.
$6,000,853 $4,239,791 $561,021x$l,817,010 $1,074,198 $2,891,208
3,662,224
287,149
649,968 3,299,406
2.220,613
257,269
450,000
649,967
1.377,916
Total p. & 1. surplus Dec. 31 1919, $13,347,215.
Pres., Herbert Lloyd; Sec. 8c Treas., Walter G. Henderson. Philadelphia
Office, Allegheny Ave. and 19th St., Philadelphia.—(V. 110, p. 1181.)
1919
1918
4,825,757
1917
3,140.560
x For year 1918.
—
—
ELK BASIN PETROLEUM CORP.—(V. 110, p.
170, 1092.)
HORN COAL CORPORATION.—ORGANIZATION .—Incorp,
1427.) Nineteen mines nave been opened. See V. 103,_p. 668. Stocks owned,
Official statement to N. Y. Stock Exchange In May 1917
listing of stock and notes was given at length In V. 104, p. 2140.
The
assets on Dec. 31 1918 included 19,765.47 shares of stock of Consolidation
Coal Co.
CAPITAL STOCK IN $50 SHARES.—Authorized (a) pref. (6% and
participating; red. at 56#%), $6,600,000, all out, with sole voting power
during any default on full year's dividend.
(6) Common, $22,000,000 (6 %
a ad partic.): outstanding. $12,000,000.
V. 101. p. 1716: V. 104. p. 2140.
Pref. dividend No. 1. June 15 1916 to Dec. 1918; 3% semi-ann. (J. & D.):
March 1919 to June 1920, 1#% quar.
Com. div., 2%, June. Sept. and
Dec. 1918 March, June and Sept. 1919, 1#% each; Dec. 1919 dividend
was postponed because of strike,
&c.
NOTES.—The
11.435.709
9.623,606
9.235.778
8,302.815
5.147,977
4,792.335
4.851.467
4,677,397
81,508 2.078,860 2.703.360 447,265
89,606 1,643,843 2,703,360 534,738
197.967 1,429,624 2,703,066 916.744
124,051 1.230,995 2,702,184 868.269
Cummins.
767. 1092.)
OFFICERS.—Pres., Charles L. Edgar; Treas., T. K.
70 State St., Boston. Mass.—(V. 110, p. 170, 565,
Office,
10-year sink, fund notes of
1915
($9,500,000
auth.
V. 101. p. 1716; V. 102, p. 348) are secured by mortgage on the entire
property.
Sinking fund, 2c. per ton on all coal mined commencing April 1
1916 (after April 1 1919, 3c. 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 $426,000 5% 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 $426,000
Mineral Fuel Co. 1st s. f. 30-year 5s, due May 1 1943, excl. $49,000 on
Dec. 31 1919 held in sinking fund.
V. 101, p. 1716; V. 96, p. 1427; V. 97,
p.
731,1507.
Notes payable as of Dec. 31 1919, $500,000.
REPORT.—For calendar year 1919, In V. 110, p.
1919.
1918.
Year.
1917-18
1 1920.
amount paid May
1915-16.
$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
For 3 months ending March 31 1920: Net sales, $1,093,123; net earnings,
$167,873.
Orders and contracts on hand, $3,792,679, against $1,578,438
anti-trust law. caused
%
same
1914-15.
V. 104, p. 1706.
EASTERN POWER & LIGHT CORP.
1795.
1918-19
paid Feb. 2 1920;
Years June 30—
Gross sales
on
EASTMAN KODAK CO. (OF NEW JERSEY).—ORGANIZATION.—Incorporated In New Jersey Oct. 24 1901 as an amalgamation per plan V. 73.
p. 1114, of various operating companies, of which It owns practloally all the
etock.
See list V. 67. p. 1160. 1207; V. 69. p. 387; V. 75. p. 735, 613; V. 77.
p. 253. 300; V. 89, d. 1225; application to list, V. 80. p. 1477: V. 93. d. 1728;
V. 97. p. 731: V. 98, p. 1540.
Judge Hazel In the U. 8. District Court at
Extra
as a whole or in part at 110 on 90 days'
Sinking fund, 10% of net earnings after taxes and div. begins
1920.
See offering in V. 109. p. 681, 1702.
Initial div. of 1#%
ELK
EASTERN SS. LINES.—(V. 109, p. 274; V. 110, p. 874.)
p.
1
quar.
$15,891,416; net earnings,
V. 109, p. 1370.)
V.
STOCK.—Pref. stock callable
notice.
Jan.
$5,235,152.
DIRECTORS.—A. O. Bedford, M. B. Daly (Pres.), George H. Jones,
R. W. Gallagher (Asst. Gen. Mgr.), R. W. Brink (Treas.) and S. H. Tolles.
Office. Cleveland, O.—(V. 105, p. 1620, 1806, 2187, 2546; V. 108, p. 584;
high-tension magnetos, used as standard equipment by
tractor, automobile and machinery manufacturing
109, p. 681.
125 motor truck,
companies.
March 31
EAST OHIO OAS CO.—ORGANIZATION.—Incorporated In Ohio In
1910 by consolidation of the original East Ohio (natural) Gas Co. and the two
artificial gas companies
In Cleveland known as the Cleveland Gas Light
Custodian and sold in Feb. 1919 to G. E.
who also acquired control of the remaining
stock.
Earnings (allsources)
$2,829,542
Net. after taxes, &c
$484,313
Interest, sink, fund, &c__
419,726
Federal taxes.
Balance,
surplus
$2,457,453
$1,712,650
360,703
$2,245,789
414,631
107,960
393,363
$1,108,320
468,712
395,576
%)539,924
395,558
(6)719,278
def.$870,912
$135,809
(6%)
1916.
1917.
$4,497,121
101,302
...
Preferred dividends
Common dividends._(4#
1418, shows:
$4,951,921
______
395,651
-■——-
$1,329,835
$243,957
OFFICERS.—Chairman, C. W. Watson, Fairmont, W. Va.; Pres.,
George W. Fleming, N. Y.; Sec., J. W. M. Stewart Ashland, Ky.; V.-P.
& Treas., J. F. Caulfield, N. Y.—(V. 109, p. 2075; V, 110, p. 1418.)
EMERSON-BRANTINQHAM co.—ORGANIZATION -Owns
at^ Rook-
ford. 111., (a) farm machinery plants located on 160 acres of land,
(o)
and wagons for country trade (business
for manufacture of carriages
lished in 1852); (c) Harvester works; (d) gas engine
chased the Geiser Mfg. Co. (established 1869), with
and
Greencastle, Pa.;
Reeves & Co., Columbus, Ind.; Gas Traction Co.
(V. 94, p. 1189), Minneapolis,
Minn., and Winnipeg, Can., and La Crosse
Tool Co., Chicago Heights, 111.; Newton Wagon Co., Batavia,
Drill Co., Marion, Ind.: Rockford Engine Co., Rockford, 111.
In
Plant
estab¬
In 1912 pur¬
plants at Waynesboro
works.
111.; American
V. 95, p. 363..
purchased Osborne line of harvesting machines (but not the
plant) from International Harvester Co.
See V. 107, p. 700, 608.
Aug. 1918
Auburn
pref. stock, see V. 95. p. 363; V. 97. p. 1507. No bonds.
Exchange in May 1919 listed $8,535,500 common stock,
$1,597,000, still deposited under voting trust expired
STOCK.—As to
The N. Y. Stock
the
remainder,
Aug. 1 1917.
Vol. 110.]
INDUSTRIAL STOCKS AND BONDS
172
page]
Par
Value
Empire Gas & Fuel Co—Pref stock 8% cum non voting
lief A coll trust mtge $150,000,000 gold sk fd call
Eq
Bond secured convertible notes call
Ba.xxx__kc*Ar
First A coll trust mtge (closed) guar call (text)
Ba.k.c*
Empire Refining Co 1st M A colltr g gu s r d call (text) _ gzzk
Empire Steel St Iron—Preferred (p & d) stock 6% cum——
Endicott-Johnson Corp—Common stock $21,000,000..—
Pref (a A d) 7% cum (sk fd) call 125 auth $15,000.000
Equitable Illuminating Gas Light Co of Phiia—Com stock..
Pref (a & d) stook 6% (divs paid regularly since org.) —
First mtge gold red 105 for sinking fund of $l24,000yearly
Eureka Pipe Line—Stock $5,000,000
Fairbanks Co.—Common stock $1,500,000
1st Pref. (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
Fairmont Coal Co—See Consolidation Coal Co
Famous Players-Lasky Corp—Com stock 450,000 sharesPreferred (a & d) stock 8% cum conv s f auth $20,000,000
(William) Farrell & Sons, I no—Common 130,000 sharesPreferred (a A d) stock 7% cum call 120 auth $3,000,000..
When
%
Payable
Outstanding
Pledged
Ac $20,750,200
9,591,500
1,000
500 Ac
6,567,500
1916
1917
j-"a""j
Dividends
F
See text
50
See
J
text
V"
"""V,6oo
100
25
100
100
1926
Dec 15 '19
Dec
Jan
6% Philadelphia
15 '19
3%
1 1928
do
DIVIDENDS.—On pref., 1*4%. Paid Nov. 1 !9l2toAug. 1 1914. then
till Nov. 1918, 1^%; Feb. 1919 to May 1920,15*%; overdue accumu¬
pref.
,
div. Aug. I 1918, 28%.
Sinking fund payments were
V. 99, p. 1054; V. f07. p. 1290.
also
31 1919 In V. 110, p. 1086.
x Net
DeprePreferred
Balance,
Earnings.
Interest, cialion.
Dividends.
Surplus.
T8-'19-Not stated.$1,843,699 $339,444 $181,835 (7%>$851,935
$470,484
•17-T8- 14,554,065 1,746,445
296,331
167,845 (15*) 212,984 1,069,285
'16-T7- 11.104,128 1.264,727
189,988 150,502
92i*2A3rt6
x Alter
deducting Federal taxes,
y Includes In
1917-18 $1,948,720
REPORT.—For year ending Oct.
y
Total
Is
May 1 1920 2%
Apr 1 1920 2%
Q—J
Q—F
July 1 1920
$2
May 1 1920 2%
7
Q—J
Apr 1 1920
1*4
...... ...
New York Trust Co
„
contracts.
Pres., O, S. Brantingham, Rockford,
111.—(V. 110, p. 767, 1086.)
EMPIRE OAS & FUEL CO. (DEL.).—ORGANIZATION.—Incorp. In
1919.
Ovrns leaseholds on 22,000 acres of fully proven oil
Delaware June
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
of about 1,300 miles mt trunk lines covering portions of Oklahoma, Kansas
and Southwestern Missouri.
As to new pipe lines, Ac., see V. 109. p. 75.
The company and its subsidiaries produced about 13,000,000 bbls. of
crude oil in 1919.
Its natural gas subsidiaries are transporting and market¬
ing about 100,000,600 cu. ft. of gas daily.
STOCK.—Preferred,
auth.,
$500,000,000; outstanding; $15,000,000*
and outstanding, $62,500,000'.
•wned by Cities Service Co.
Common, auth.
all owned by Cities Service Co.
BONDS.—The First Mtge. A Coll. Trust 6s are guaranteed, p. A L, by
fund by Cities Service Co.
Semi-annual sinking fund (M. & N.)
sink,
retires
over
This issue is redeemable, all or part,
$1,000,009 annually.
until May 1 1920, at 102 and int.; thereafter to May 1 1923 at 103
and thereafter until maturity at 104 and int.
V. 102, p. 1542.
and int.,
The Em-
EireEmpire Gas & Fuel On. Coll. Trust s. f. 6s are guaranteed, p.,annually.
Refining Co. First M. A sink, fund retires over $1,000,000 i. & s. f.,
y
are callable at 104 till Feb. 1921; then tUl Feb. 1
1924 at 106;
thereafter at 108.
V. 104, p. 365.
The $25,000,000 Bond Secured Convertible notes are convertible at any
These 6s
time,
par
for
par,
into 8%4non-voting Cumulative pref. stock of company,
except that this privilege expires 60 (lays prioif to date of maturity, and if
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
1919, 1 % of outstanding notes.
Secured by deposit of $50,000,000 First A
Ref. A Coll. M. 6% bonds, total auth., $150,000,000, dated June 16 1919,
due 1939.
V. 108, p. 2436.
Of thes* $150,000,000 First
A Ref. A Collat. bonds, $50,000,000 are
Sledged as $51,228,000$18,772,000 areat the rateto refund the underlying
reserved of $50 in bonds for each
and aforesaid,
will bo issued
•nas
$100 of additional expenditures made far capital
or for deposit in the sinking fund.
account in the various
properties
earnings (inter, co. sales eliminated) year
ended Jan. 31 1920: Gross, $51,521,111; net, $16,546,858; interest, $1,337,
852; balance, $14,209,006.
President, Henry L. Doherty, New York.
V. 109. p. 581, 681, 1702.
EARNINGS.—Combined
EMPIRE STEEL & IRON CO.—Incorp. in N. J. In 1899.
V. 68. p. 524.
V. 85, p. 1211.
Preferred, see table.
Common stock, $1,254,770.
PREF. DIVS.
'06. '07. '08. '09. *10. Tl. *12.
T3.-T5.
'16. '17. *18/19.
8 15X 10
8
Oo.'sdata ..% 4>*
6
6
5
1
2
nil
Jan. 1919,3%, and 2% on acoum., reducing same to 32%;
Jan. 1919, 3%.
V. 105, p. 2369; V. 107, p. 2379. *
1917.
389,681
Calendar Years—
Gross
July, paid 3%.
1918.
$1,207,029
212,526
$1,800,251
182,076
$462,108
58,000
150,000
$994,503
510,000
250,000
$1,618,175
600,000
387,500
1919.
*
income.
$851,789
Interest, depreciation. Ac
Net income
Reserve for Federal taxes A contin...
Preferred dividends
Balance, surplus
$254,108
$234,503
$630,675
Pres., Leonard Pockitt, Oatasauqua, Pa.; Sec. A Treas., J. S. Stillman,
«atasauqua, Pa. *N. Y. office. 30 Church St.—(V. 110, p. 874.)
ENDICOTT
JOHNSON
Now York Mar. 31 1919.
CORP.—ORGANIZATION.—Incorp.
in
Business, principally manufacturing leather and
??.^IU??~RF ce(* stal>le shoes and footwear.
Plants at Endlcott and Johnson
City, N. Y., together with tanneries, shoe factories.
Number of employees
about 12,009.
Average output, about 70,000 pairs of shoes daily.
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
surplus profits 3 % of the largest amount of Pref. stock at any time outstand¬
ing.
No mortgage without 75% of each class of stock.
Pref. stock has
equal voting power with the common stoGk.
Outstanding com. stock was
increased from $14,900,000 te $16,399,000 through payment of a 10% stock
June 1919.
1919.
dividend
on
June 10
1.920.
Dividends.—An initial dividend of 1 J* % on both the
pref. and com. stock
paid July 1 1919; Oct. 1 1919, 1*4% each; Jan. 1 1920, 1*4% on pref.
and 2>*% regular and 4% extra on com.; April 1 1920, 1 *4% on pref. and
tyt% on com.
On June 10 1920 common shareholders received a stock
dividend of 10%.
REPORT for 1919 I* ▼. 110. p. 2869:
Gal.Yrs,—
1910.
1916.
1917.
1918.
1919.
Sales
$26,070,404 $34,515,409 $44,144,637 $52,896,275 $62,713,039
Net bef. tax
2,174,430
3,669,797
4,630,471
4,398,187
4,955.286
was
Profits and surplus Dec.
31 1919, $7,900,836.
OFFICERS.—Pres., George F. Johnson; V.-Pres.. H. WendellEndicott;
Treas., Eliot Spalding.—(V. 110, p. 767, 869, 1191.)
EQUITABLE GAS LIGHT CO. (Of N. Y.).—See Consol. Gas Oo.
(THE) EQUITABLE ILLUMINATING GAS LIGHT CO. OF PHILA¬
DELPHIA.—Formed in 1898 to take assignment of the lease of the gas
work3 of Philadelphia from the city to The United Gas Improvement Co.,
and to operate the same.
See Y. 84, p. 1304; V. 84. p. 1370; V. 66, p. 436.
DIVIDENDS.—
Common (%)-
1898.
4
1899.
6
1900.
6
1901 to Dec. 1918
6 yearly
Sinking fund to retire stock in 1928.—(V. 96. p. 556; V. 101, p. 1976;
Y. 105, p. 2187; Y. 106. p. 90, 924; V. 107. p. 406. 2292; V. 110, p. 364.)
1
.
' ".
,''r
(THE) EUREKA PIPE LINE CO.—ORGANIZATION,
lit# U W. Va.
Owns pipe Una In W. Va.
Formerly
..
AC.—Inrorp
controlled by
segregated In 1911.
Stpcfc, $0,000,000; par. $100.
Div. 10% paid quar. from May 1912 to
Fab. 1014: May A Aug.. 8%; Nov. 1914 to May 1918. Incl., 24% (6% qu.).
Aug. and Nov. 1918 and Feb. -1919, 5% quar.; May, Aug. A Nov. 1919, and
Standard Oil Ce. »f New Jersey, but
Feb.
Sales.
Govt,
N Y
None
none
omitted.
„
New York Trust Co,
May 1 1920 3% Checks mailed
8
199,675shs.
10,000,000
130,000 shs
100
3,000,000
1,000
Y
do
do
Apr 1 1920, 1*4
Text
None
do
A Feb
7
Q—J
15,000,000
/:
Dec
3,125,000
&
D
3.125,000 Tin" 1919 J
J
&
J
5 g
3,029,000
5,000,000 21 in 19 See text
text
1,500,000
Q—F
1,000,000 8 in 1919
text
Q
J
2,000,000
100
1
do
do
1 1927
1920 3% Checks mailed
A
J Jan 1
olumbia Trust Co, N
See text
Q—J
A
'V
lated
are
New York City
do
June 151924
MAN May
6g
2.500.000 8 in 1919
100
1898
and
Payable
Places Where Interest
Maturity
June 151939
—.....
"TOO
1919
and
See text
$100
1919
Last Dividend
Rate
Amount
Date
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, Ac., see notes on first
„
„
,
1920, 4%; May 1920, 3%.
REPORT.—For cal. year 1919 in
1919.
$362,334
Profits for year
Dividends paid
V. 110, p. 767, showed:
1918.
1917.
$848,713
$1,111,883
1916.
$1,322,C69
(17)849,999(22)1100,000(24)1200,003(24)1,200,004
deficit—def$487,665 def.$251,287 def.$88,120sur.$122,065
Bal.» sur. or
Pres., Forrest M. Towl; Vice-Pres. A Treas., E. R. Shepavd; Vice-Pres.,
Office, Oil City, Pa.—(V. 106, p. 2760: Y. 108, p. 384,
484, 584, 1392; V. 110, p. 265, 767).
Alan T. Towl.
FAIRBANKS CO.—ORGANIZATION.—Incorp. in New Jersey, June
1891, to acquire the business, &c. of the Fairbanks Co., of N. Y.f and
Manufactures valves, trucks and barrows; also acts as selling
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,
Ga. and Binghamton, N. Y.
(V. 106, p. 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.
(2d) Pref. and Com. stock listed on N. Y. Stock Exchange in 1919.
DIVS. *94. '95. '97.'99-'01. '02-'03. '04-'06. '07-'08. '10. '11. *12. '13. '18.
Com.% 18
9
10
15 9 6 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 7 1918 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 1 1918 were adjusted by a Com. stock div. (20%) issued June 7 1918,
the (2d) Pref. stockholders receiving one share of Com. stock for each $10,
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 Cornstockholders 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).
Gross
Gross
Net after
11
other cities.
Earnings Cal.
Years—
Sales.
$16,234,492
$16,158,930
11,774,610
8,476,635
Profit.
Taxes.
$4,573,081
$699,378
$3,563,277
$554,364
1917
3,352,158
945,775
1916—
2,193.809
673,310
OFFICERS.—Chairman of Board, W. Storrs Wills, Pres.; Harry T.
Peters, 1st V.-P. A Sec.; J. R. Peters, Treas.; J. A. Wells.
New York
office, 416 Broome St.—(V. 110, p. 170, 662, 1294, 2196.)
1919
1918
-
FAMOUS PLAYERS-LASKY CORP., N. Y.—ORGANIZATION.—
Incorp. in New York, July 19 1916, as a holding and operating company
right to produce, lease and exhibit motion pictures, operate thea¬
tres, &c.
Acquired the Famous Players Film Co., the Jesse L. Lasky
Feature Play Co., Inc., and the Paramount Pictures Corp. and Its subsi¬
diaries and the Artcraft Pictures Corp.
Owns stock w several other
companies doing business in the United States and foreign countries.
Has
with the
general of its pictures. foreign concerns for to N. Y. Stock Exchange in
ution
contracts with Official statement substantially exclusive distri487.
On July 2 1919 acquired the Charles Frohman Inc.
V. 109,
480.
See V. 109, p. 1708.
Other acquisitions, V. 110, p. 469.
V. 109, p. 1795.
Famous Players Canadian Corp., Ltd., V. 110, p. 364, 469.
India corp.
formed, V. 110, p. 2079.
STOCK.—Stockholders Nov. 10 1919, authorized an issue of $20,000,000
V. 109, p.
p.
176
,
Distribution contract with the Danish-American Film Co.
8% Cumul. 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
$10,000,000 Pref. up to Nov. 28, in the ratio
two shares of common held.
Unsold portion
1919 by Dominick A Dominick, Hallgarten A Co. and
Kuhn, Loeb & Co., N. Y.
Of the 250,000 shares of additional common
stock about 182,u00 shares will be set aside to provide for the conversion
not only of the $10,00o,u00 pref. stock issued, but also of the unissued
prtf. stock.
V. 109, p. 16jl2, 1703,1894.
Sinking fund of 3% of maximum
issued pref. stock, less converted amount begins Nov. 30 1920.
Redeem¬
able 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. 30, 1920, at
$115 to Nov. 30 1921 and at $120 thereafter.
No mortgage without the
consent of 2-3 of the outstanding pref. stock.
Each share ®f pref. shall
be entitled to one vote.
V. 108, p. 2245, 2633; V. 109, p. 487, 1612.
Recent Dividends—
1917.
1918.
1919.
1920.
Common
$10
0
$5.50
text
Initial div. of 2% on new pref. paid Feb. 1 1920; same amount paid May 1
1920.
In 1920: Jan., $2; April, $2; July, $2.
I
Gross
Net before
Federal
Pref.
Balance,
Earnings. Fed. Taxes.
Taxes.
Div.
Surplus.
Cal. year 1919-$27,165,326 $4,132,985 $1,000,000
$66,666 $3,066,319
Cal. year 1918- 18,090,500
1,281,175
1,281,175
OFFICERS.—Adolph Zukor, Pres.; Jesse L. Lasky, 1st V.-P.; Frank A.
Garbutrt, V.-P.; Arthur S. Friend, Treas.; Elek John Ludvigh Sac.—(V. 110,
p. 364, 469, 1646, 1847, 2079/
(WILLIAM) FARRELL & SONS. INC.—ORGANIZATION.—Incorp.
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 followingWilliam Farrell A Son, Robt. Gordon A Son, Inc., Hencken
A Willenbrook Co., Thedford Eltz Coal Co., O. H. Perry A Son, inc.,
Pattison A Brown. S
Trimmer A Sons, Inc., Scranton & Wyoming Coal
Co., Matthew Wilson Coal Co., Joseph Gordon, Inc., Ac., representing
to subscribe at par ($100) for
of one share of pref. for each
offered at par in Dec.
an annual tonnage of about 3,000,000.—V. 108. p. 2126, 2633.
The. stockholders in May 1920 authorized the directors to conduct pre¬
liminary negotiations for the purpose of consolidating the company with
other large distributors of coal.
It is understood the consolidation will in¬
clude Burns Brothers, William Farrell A Son, Inc., and U. S. Distribut'g Co.
STOCK.—Pref. stock may be redeemed on any div. date at 120 and div.
No mortgage
without the consent of *4 of the Pref. stock.
Offering in
2126, 2633.
An initial quarterly dividend of $2.33 (being for
was paid Oct. 1 1919 on the pref. stock.
In Jan. and
again in April 1920 paid 1*4%.
President, Thomas F. Farrell.—(V. 110, p. 1418, 1853, 2079.)
V.
108,
p.
4 months period)
Date
Par
Amount
Bate
When
Last Dividend
Bonds
Value
Outstanding
%
Payable
and Maturity
MISCELLANEOUS COMPANIES
[For abbreviations, &c.t see notes on first page]
$6,000,000
Q—J
Q—M
12,000,000 3}* "1^19
Q—F
6,707.900 See text
See text
6 In 1919
Q—F
MAN
6g
3,000.000
$100
Federal Mining & Smelting—Common stock $10,000,000--Preferred (a & d) 7% cumulative $20,000,000 authorized
100
100
Preferred
(a
A d) stock 6% cum red oonv
100
(text)--
Five year gold notes $3,000,000 call 101 s fd text-Ba.xxxc*
Gold notes $2,000,000 call 101
...--------.Ba.c*
Firestone Tire & Rubber Co—Com stock $25,000,000—First pref stock 6% cum $10,000,000 call
Second pref stock 7% cum $40,000,000 call 110 sk fd 1921
Fisher Bedy Corp.—Com. stk. 500.000 shares pert v
Pref (a A d) stock 7% com auth $6,000,000 • fd call
MINING
&
SMELTING
i§19
1,000
1,000
1917
25
100
100
None
In 1905 Amer. Smelters Securities Oo. (Amer. Smelting A Refining Oo.)
acquired about $3,000,000 common stock. V. 93, p. 1728; V. 99. p. 52.
'17.
*18.
'19.
1920.
0
0
7
7
text
From March 1917 to March 1919, 1X% quar.
In June 1919 paid 1%.
and in Sept. and Dec. }* of 1%. V. 104, p. 667. In 1920: Mar., %%\
June, 1 %%.
DIVS. f'08. '09. *10-
0
1}*
'11. '12. *13. '14. '15. '16.
0
Preferred 1 In full to Dec
0
1911
0
0
0
0
6
6
5
4
0
4#
A
Jan 151909 1}* Checks mailed
do
June 15 '20 15*
May 11920 IX Checks mailed
May 1 1920 1}*
Balance,
Year. Products.
Profit.
Income. Depr., &c. Dividends.
Sur. or Def.
1919.S1,767,153
$297,279 $159,614 $112,892
$449,479 def.$105,478
1918- 2,405,867
545,876 296,382 112,321
838,854 def.108,917
1916- 5.204,512
1,044.768 613312 789.881
509,409 sur.35S.7S9
Chairman 8c Pres., Francis H. Brownell; Sec.. Geo. W. Petersen; Treas..
F. C. Drudling.
Office, 120 B'way, N. Y.—(V. 110, p. 767, 1418, 2079.)
/
do
Bankers Trust Co,
Nov 1 1924
1 1920
New York
Mar20 '20 20%
N Y
J Jan
6 g
New
12
7
7
Text
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 102}*; till Aug. 1922 at 102; till Aug. 1923 at 101}*; till Aug. 1924 at
101; thereafter at 100}*.
No mortgage while these notes are outstanding.
—V. 109. p. 480. 1370.
REPORT.—Year ending April 30 1919, V. 109, p. 71.
Income account»
8 mos. ended Dec. 31 1919: Net income (after Federal taxes, Ac.). $2,625."
298; pref. divs., $223,317; com. divs., $1,250,000; surplus, $1,161,981.
Pres., F. J. Fisher. Detroit.—(V. 107, p. 2479; V. 109, p. 71. 480, 1370,
1464,1612.)
1918-19.
Net income after deprec. reserve..
REPORT.—Year 1919, in V. 110, p. 1418, showed:
Col.
Value of
Net
Other
Qen. Exp.,
Preferred
Places Where Interest and
Dividends are Payable
Q—J 15 Apr 15 1920 1H
Q—F
May 15 '20 IX
Mayl r20 $2.50
May 1 1920 IX New York
Q——F
F
A
A Aug 1 1921-25
Bankers Trust Co, N Y
New
Q—J
Q—J
Apr 1 1920 3%
See text
New Eng Tr Co, Boston
Q—F
See text
Q—M
Bankers Trust Ao, N Y
Nov 28 1919 $1
Q—F
New
4,213,500
5,000,000
10,000,000
12,254,500
14.500.000
3,509,500
500,000 sh
100
CO.—ORGANIZATION.—Incor
Owns silver-lead mines In
9i, p. IMS; V. 97, p. 1424,
6
7
See text
1.000
1919
J
g
o
3,500.000
10,000,000
10,000.000
100
100
None
100
porated under laws of Delaware June 25 1903.
Ooeur d'Alene district, Idaho. V. 93, p. 733; V.
Common^
See text
10
t c.
120-
Ser gold notes $5,000,000 due $1,000,000 yly call.Ba.xxxc*
Fisher Body Ohio Co—Pref (a A d 8% cums f call 110
Flsk Rubber Co—Common stock $20,000,000 -----------First pref (a A d) stock 7 % cum $15,000,000 call 110 sk fd
Seoond pref 7% cum $7,000,000 conv till Nov 1 1923
FEDERAL
173
INDUSTRIAL STOCKS AND BONDS
may, 1920.]
_
_a$3,534,853
Deduct—Interest charges
Federal Canadian profits war taxes.-
Deduct—Dividends
on
$306,564
1,625,000
Pref. stock—(7%)$304,539
Balance, surplus
--$1,298,750
1917-18.
1916-17.
$4,352,078
$2,261,364
$203,111
bl,294,486
$96,619
(7)$326.305(5X)262,500
$2,528,176
$1,902,245
Includes in
1917-18 $4,109,024 from body plants and $243,054 from
division.
bAn additional $403,000 for Federal taxes was
deducted from the surplus of April 30 1918.
a
aeroplane
FEDERAL SUGAR REFINING CO.—Incorporated in New Jersey June 1
1902; reincorporated *n New York May 3 1907.
V. 84, p. 1117.
Plant at
Yonkers, N. Y., capacity in 1919 10,000 bbls. daily.
Process, V. 74, p.
1358. Pref. stock is subject to call at 125 and convertible into com. stock
at par.
Description, Y. 84, 0. 691.
Div. on common stock 1912 to Oct.
1913 5% yearly (Q.-J.); none since to June 15 1917, when 15*% was paid;
since to May 1920, l%% qu. (7% p. a.).
Dividend period changed in
Feb. 1919 from Q.-M.16 to Q.-F.l.
Dividend previously paid in March was
paid Feb. 1 1919.
V. 104. p. 2121.
In Nov. 1919 sold $3,000,000 FiveYear 6% notes to refund $2,000,000 5% notes due Jan. 1 1920; s. fd. to
retire $334,000 yearly will begin in 1922.
V. 109, p. 1895.
In Dec. 1917 offered to buy in pref. shares at 95%.
V. 105, p. 2187;
V. 106, p. 1347.
In April 1919 reduced the outstanding pref. stock in
that way from $3,322,800 to about $1,000,000.
On
Sept. 20 1919 the balance sheet showed:
Cash, $2,288,290; accts.
receivable, Ac., $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.
ANNUAL REPORT.—For year end. May 31 1919, V. 108, p. 2625:
Years end.—
Profit.
Interest. Taxes,&c. 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
341,428
May 26 1917- 3,227,464
363,629
40,331
199,368
2,624,136
*
Includes income and excess profits taxes.
Pres., Claus A. Spreckels; V.-P., Lewis L. Clarke; Treas.. Pierre J.
Smith; Sec., A. H. Piatt.
Office, 1 Wall St., N. Y.—(V. 107, p. 85;
V. 108, p. 2625.)
FIRESTONE TIRE & RUBBER CO.—ORGANIZATION.—Incorp .
nW. Va. in Sept. 1900; in 1910 reincorporated in Ohio.
Plant at Akron, O.
Daily capacity 22,000 tires and 25,000 tubes.
This in Oct. 1919 was being
increased to 36,000 tires and 40,000 tubes a day.
V. 109, p. 118.
A
factory is being built at Hamilton, Ont., which it is expected will be in
operation by July 1 1920.
Is also erecting a new steel plant at Akron with
double the capacity of the old one.
STOCK.—In June 1919 increased the outstanding 1st Pref. stock to
$10,000,000.
V. 108, p. 25311 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
offering, V. 109, p. 1182.
Divs. on 1st pref., 1}*%; Q.-J., 15%; 2d pref., 1M%." Q.-F. 15; <l)om.,
8% in Dec. 1919; Mar. 1920, 20%.
p.
OFFICERS.—Pres., Fred J. Fisher; Y.-P., Chas. T. Fisher; Chairman,
Louis Mendelssohn; Treas., Louis Mendelssohn; Sec., Aaron Mendelssohn.
—(V. 110, p. 81, 565, 1646, 1976.)
FISHER BODY OHIO CO.—ORGANIZATION.—Incorp. in Ohio
about Oct. 18 1919.
(Fisher Body Corporation ows a
controlling in¬
terest) 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. 109, p. 1612.
CAPITALIZATION.—Auth. and issued, 8% Cum. Sinking Fund Pref.
stock (par $100), $lO,000,000; Com. stock (no par value) 100,000 shs.
No
bonds.
No mortgages without consent of 5* of Pref. stock outstanding.
Sinking fund beginnln Jan. 1 1923 4% of largest amount of Pref. stock at
any time outstanding.
Pres., Fred J. Fisher.—(V. 109, p. 1612, 1990;
110, p. 265.)
V.
FISK RUBBER CO.—ORGANIZATION, Ac.—Incorp. in Mass. in
1912.
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).
Owns
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
amount of $2,500,000 and (3) to issue $1,000,000 additional
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 until
Nov. 1 1923, and $20,000,000 common stock; outstanding $15,000,000
First Pref., $6,344,700 2d Pref. and $9,325,700 common stock.
V. 108.
p. 2436; V. 109, p. 581.
The new non-voting First Pref. has an annual
sinking fund equal to 15% of net profits after payment of taxes and 1st Pref.
dividends.
The 2d Prer. 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.
additional
common,
,
REPORT.—For year ended Oct. 31 1919 p V.
110,
75.
Offering of Flsk Rubber Co. Bldg. bonds, V.
110, p. 2079.
DIVIDENDS.—Initial div. of 3% quar. on com. stock paid April X
1920.
Sales <fe Profits
ANNUAL REPORT.—For calendar year 1919 in V. 110, p. 1752;
Calendar Years—
1919.
1918.
1917.
1916.
Net profits
$4,956,685
$3,760,279
$3,578,484
$1,836,830
Sales
Federal taxes
Preferred dividends
p.
Fiscal Years ended July 311914 to 1915 & Oct. 311917 to 1919.
1913-14.
1914-15.
1916-17.
1917-18.
1918-19.
$19,250,100 $25,3.9,476 $61,587,219 $75,801,507 $91,078,514
Prof.aft.dep
3,227,699
4,343,376
5,819,727
8,356,230
9,306,978
OFFICERS.—Pres., H. S. Firestone; Sec., 8. G. Carkhuff; Treas., ). G.
Offices at Akron, O., and 1871 Broadway, If. Y.—(V. 110,
p. 75.)
Robertson.
FISHER BODY CORPORATION (OF N. Y.).—ORGANIZATION.—
Organized in N. Y. State Aug. 1916.
The original Fisher Boiv Co. was
developed by the present
corporation had grown to a gross volume of between $50,000,000 and $60,000,000 per year.
The Corporation operates 23 plants in United States
formed in 1909, and in Oct. 1919 its business as
962,02?
1,055,48(
*835,049
_
-
Deduction
1,253,426
946,760
*589,659
549,913
972,850
475,689
448,000
759,782
Balance, surplus_
__$2,104,118
$970,444
$1,580,037
$629,048
*
Retirement of preferred stock.
Pres., H. T. Dunn, Chicopee Falls, Mass.—(V. 110, p. 874,1762.)
^FORD MOTOR CO.—Notes, V. 109,
1646, 1853.)
p. 275,1277, 1529; V. 110, p. 364,
FOUNDATION CO.. N. Y—V. 110, p. 1530, 1976,2196.
and Canada.
The Fisher Body Ohio Co., a
controlling interest in which will be held by
1919 to build an additional plant
See that co. below,
V. 109, p. 1612,
Contract with National Plate Glass Co.,
Fisher Body Co., was organized in Oct.
with 1,500,000 sq. ft. of floor space.
480; V. 103, p.
V. 110, p. 565.
1690,
1893.
(a) on increasing the
to 500,000 shares (no
value); (6) on amending certain of the articles of Incorporation and add¬
ing a new article that for a 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) on increasing the num¬
STOCK.—The stockholders voted Nov. 6 1919
Common stock from 200,000 shares (no par value)
par
ber of directors from five to fourteen.
V. 109, p. 1612.
The 300,000 shares of additional stock will
be sold to the General Motors
Corp. at $92 per share and deposited under a new voting trust agreement,
together with such stock as present stockholders may deposit and about
35,000 shares of stock in the old voting trust, which will be dissolved. .The
balance of the stock in the old voting trust (about 68,000 shares) will be¬
come free stock so that approximately 166,000 shares of common stock
will be outstanding in the hands of the public.
The General Motors Corp. will also enter 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. C. Durant
and Pierre 8. du Pont.
Bankers Trust Co., depositary.
Pref. stock, par $100, auth., $6,000,000; issued, $5,000,000; retired to
April 30 1920. $786,500. Callable at 120 & divs.; sink, fund beginning in
Aug. 1915, 15% of net earnings, after deducting pref. divs.
See V. 103,
p. 681, 760, 1510.
Pref. dividends paid Nov. 1 1916 to Nov. 1919, 7%
*
,
,
5er annum (15*% quar.). paid May 1 1920. $2 50 per share on com. paid
eb. 2 1920; same amount Initial dividend of
FRANKLIN PROCESS CO.—(V. 110,
p.
81. 1530.)
FREEPORT
TEXAS
CO.—ORGANIZATION.—Incorp.
Sept.
3
1913, in Delaware.
A holding company controlling through ownership o
entire stock:
Freeport Sulphur Co. ($200,000); Freeport Terminal Co.
($10,000); Freeport Town Site Co. ($20,000); Freeoprt Light, Water A
Ice Co. ($5,000); Freeport Sulphur Transportation Co. ($25,000); Freeport Gas Co. ($50,000).
Also owns one-half of the capital stock and
$79,000 bonds of Houston A Brazos Valley Ry., and 500,000 francs (of a
total of 2,000,000) of Societe Pour LTmportation et al Vente des Soufres
Owns
Americains,
entire
organized in Mexico.
stock of La
Espuela Oil Co., which is being
Full description in V. 108, p. 1517.
STOCK.—On May 7 1917 the authorized share capital was increased to
500.000 shares
shares
(no par value) which were issued in exchange for 35.000
(par $100) at the rate of 14 2-7 shares of new stock for each share of
old stock.
V. 104, p. 1804.
the treasury.
1919.
1418.
No bonds.
V. 108, p. 2633.
Of the authorized stock 96 shares are heid in
Stock listed on N. Y. Stock Exchange in June
Minority stockholders seek proxies.
Y. 110, p.
LATEST DIV.—(On capital of $ 100 par).
Nov. 4 1915 to May 15 1927,
incl., 10% quarterly; on capital no par value (per share); Aug. 15 1917, $3;
Nov. 15 1917, Feb. 15 and May 15 1918, $L50 each; May 20 1919. $2;
Aug. 20 1919, $1; Nov. 28 1919, $1; Feb. 1920 dividend passed.
EARNINGS.—For fiscal year ending Nov. 30 1919 in V. 110, p. 1191;
Gross sales, $3,449,233; gross income, $1,602,417; reserve for taxes, $187,850; reserve for depreciation, Ac.,
$789,728;
net income, $624,838; dividends
paid, $840,070.
OFFICERS.—Pres., Eric P. Swenson; V.-P., E. E. Dickinson; Treas.,
S. M. Swenson.
New York office, 61 Broadway .-r(V.110,
p. 469,1191.)
GAIR (ROBERT) CO.. BKLYN., N. Y.— (V. 106. p. 820, 1464.1684:
V. 108, p. 2121; V. 110, p. 81, 170. 2197.)
V
*
Date
Qalena Siena! Oil
Preferred
Co.—Common $22,000,000
Rate
When
%
Payable
and Maturity
FP.kc*
gold red uar sink fund
General Baking Co—Common stock ($10,000,000;
Preferred (a & d) stock 7%—
1st A Ref M g red 105 also for sink fd
Kolb Bakery pref stock dlvs guar red 110
1,000
300.000sh
1,000
1.000.000
100
1911
500
100
KM)
100
100
pref. stock. Par of all $100.
$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,
85.
was
the intention of the
board that the remaining $4,000,000 of new
pref. stock should for the present re¬
stock and $2,000,000 of now
main In the Treasury, unissued.
Y. 106. p. 1233, 2563; V. 110, p. 968.
"American Republics Corporation Co.,
&c., see V. 109, p. 1181. 1275.
with title "Petroleum Refining
Oo. 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, all owned by the Galena Signal Oil Co.; also $3,800,000 6%
bonds dated July 1 1918, $1,000,000 of which are owned by the Galena.
Of the new bonds, $2,800,000, it is understood, have been or are intended
to be issued in exchange for the 6% bonds outstanding at time of purchase,
▼is.: Amer. Petroleum Oo. of Tex., $1,500,000; Republic Prod., $1,300,000.
Galena Pipe Line Co.
(of .Texas), Galena Navigation Co., Societe
Anonyme des Huiles Galena (or France), Galena-Signal Oil Co., Ltd. (of
London, Eng.). Galena-Signal Oil Co. (of Brazil), Galena-Signal Oil Co. (o
Canada).
V. ilO, p. 968. 1294.
Stock—Debentures.—The stockholders in May 1920 approved the plan
(1) to increase the Common stock from $20,000,000 to $22,000,000 (par
$100); (2) to Issue $6,000,000 7% convertible debenture bonds, convertible
into common stock, par for par; (3) to offer the debentures to stockholder.
Compare V. 110, p. 1294. 974, 968.
COMMON DIVS.—11912.
1913.
1914 to July 1918.
Sept. 30 1918.
Cash (%)
...1
16
14
12% (3% quar.)
IX% quar.
The 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.
In Nov. 1918 action on the December
dividend on the common shares was postponed because of exceptional con¬
ditions prevailing; 1919, in V. 110, p. 968, showed profit and loss surplus
of $92,772.
No divs. paid on common 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. & Treas., J. French Miller.
Office,
^, Franklin, Pa.—(V. 109, p. 1183; V. 110, p. 663, 968, 974, 1294, 2197.)
OASTON. WILLIAMS & WIOMORE, INC.. N. Y.—Incorp. In N. Y.
State Oct. 10 1914, exporters and importers and does a shipping business,
owning, operating ana controlling the Globe Line (Gaston, Williams &
Wigmore S3. Corp.)
See V. 102, p. 1438, 1900.
Official statement to
N. Y". Stock Exchange, V. 103, p. 2076. Initial div., $1 per share, was paid
July 26 1916; Nov. 15 1916 to Feb. 15 1919, $1 quar. ($4 p. a.); the May
15 1919 div. was reduced to 50c.; Aug. 1919, 50c.; Nov. 1919, none, due to
adverse exchange situation, &c. (V. 109, p. 1623).
July 26 1917, 25c.
extra to aid Red Cross contributions.
V. 104, p. 2556; V. 103, p. 64, 147;
SUB. OO.—BONDS.—A new company
1918-19.
^Balance
Profit and loss surplus
Six Months ended Oct.
1917-18.
1916-17.
$1,262,402
$1,298,487
($3^)1,050,000 (4^)1,275,000
$2,604,306
(4)1,200.000
$23,487
1,432,418
$1,404,306
1,408,931
$212,402
1,620,938
31 1919.—Surplus for 6 mos., $10,572; surplus
April 30 1919, $1,620,938; total surplus, $1,631,510; dividends, $150,000;
surplus, $1,481,510.
V. 109. p. 2261.
Directors are Charles H. Sab in, John W. Prentiss, G. M. Dahl, Charles A.
balance,
Corliss, George A. Gaston, Jas. J. Phelan.
A. W. Frank is V.-Pres. &
Treas; H. S. Kimball and W. H. Swift, V.-Pres.; R. H. Lee Martin, Sec.,
39 Broadway, N. Y.—(V. 107, p. 1582. 2472; V. 108, p. 976, 1168, 1613,
2526, 2531; V. 109, p. 1613; V. 110, p. 265, 1191.)
CAR CORPORATION.—(V. 110, p.
1752, 1853, 2079.)
GENERAL AMERICAN TANK
364, 469, 1418, 1646,
CO.—ORGANIZATION.—Inoorp. In N. J. on
May 19 1903 as successor of the Nat. Asphalt Co., per plan V. 75, p. 188.
V. 76, p. 1145; V. 79, p. 101,2586: V. 80, p. 2218; V. 82, p. 1208.
Through subsidiary companies owns extensive asphalt deposits and pe¬
troleum lands in Trinidad and Venezuela and gilsonite deposits in Colorado
and Utah; operates important mining, refining and shipping properties, pro¬
ducing a great variety of asphaltic and other materials for paving, roofing,
painting. &c., and conducts a large paving business.
DIVIDENDS.—
1*06. '07. '08. '09 to'16. '17. 18. *19 to June'20
On preferred
J
4
2
2
5 yly
5
5 l^quar(Q-M)
GENERAL ASPHALT
1919 (12 mos.)—14,755,610 2,311,370
99,749
1918 (12 mos.) —13,287,492 2,323,483 104,540
1917 (11 mos.)—12,559,313 1.897,362 100,527
OFFICERS.—Pres., Arthur W.
dividends, 9X%. were discharged In full in cash.
balance, 8X%» through payment In 1915 of debentures
issued representing same.
MSTOCK.—In Jan. 1920 all of the original $10,000,000 common and
$12,000,000 pref. stock had been disposed of and the voluntary conversion
of the pref. into com. ($150 com. for $100 pref.) had resulted in increasing
the outstanding com. to $19,419,700 With a reduction in the pref. to $7,720,200.
Compare V. 109, p. 778, 984. 1613, 1703, 1796, 1895; V. 79,
p. 2586.
DEBENTURES.—The $2,000,000 10-year 6% debentures of 1915 have
a sinking fund of at least 10% of net earnings; $450,000 redeemed to Dec 31
1919, V. 108. p. 2126.
V. 100, p. 815, 1171, 1352, 1670.
On Dec. 3l 1919 had outstanding $400,000 collateral loans.
733*449
1,091,722
578,948
1,264,816 652,705 510,502
1,098,229 652,705 177,954
Sewall; V.-P., C. W. Bayliss, A.'L.
Atkinson: Sec., E. Robert Riter;
Title Bldg., Philadelphia.—(V. 110,
Robinson and Frank Seamans; Treas., Ira
Aud., F. A. Warren,
Land
Office,
-
469, 767, 1752, 1853.)
p.
BAKING CO., NEW YORK.—ORGANIZATION.—In¬
corp. 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.
GENERAL
DIVIDENDS.—On pref.; In 1912, 5X%: 1913 to Jan. 1919. 4% p. a.
In April, July and Oct. 1919 and Jan. 1920 paid 1X % quar.
In Apr. 1920
paid 1 % % quar. and X % on account of accumulations, reducing the latter
to 21^%.
Controls Kolb Bakery Co., guaranteeing dividends on its $2,000,000 7%
pref. stock and int. and sink, fund on $1,720,000 5% bonds. V. 94, p. 211,
BONDS.—Authorized bond, debt, $5,000,000, of which $1,300,000 re
See V. 93. p. 232.
Of the $3,700,000 Issued,
served for future extensions.
$866,000
were on
Dec. 27 1919
redeemed and canceled by sinking fund.
REPORT.—Report for year 1919 in V. 110, p.
x$870,606 x$l,004,955
income
preferred div_
x455,856
After providing for Federal taxes.
Bal.. after
x
excess
870, showed:
1917.
1916.
*$964,020
$919,053
x222,212
*298,108
213,784
* Before deducting war Income and
1918.
Years end.Dec.25 to Dec. 31 1919.
Net
profits taxes.
*
'
V.-P's., F. H. Frazier and F. R. Shepard,
Office, 45 East 17th St., N. Y.—(V. 110,
Pres., William Deininger;
Sec. & Treas., G. E. Fawcett.
p.
469, 870.)
CHEMICAL CO.—ORGANIZATION, &c.—Incorp.
in
on Feb. 15 1899 as a consolidation.
V. 68. p. 571; V. 74, p. 1093; V.
73. p. 724; V. 89^.351,414; V. 01. p. 656; V. 98. p. 1427; V. 07. p. 295.
V. 99, p. 1835; V. 100, p. 57.
In 1915 began making baking powder.
V. 101, p. 925.
Is Interested in National Aniline & Chemical Co. V. 108,
p. 1169; V. 109, p. 267.
Purchased substantially all the assets of the West¬
ern Chemical Mfg. Co. of Denver, in 1919.
The 20th anniversary report
issued in 1919 (V. 109, p. 1790) gives full particulars as to plants, products,
financial record, &c.
GENERAL
N, Y.
of record Dec. 30 1916 were permitted
$2,022,000 (20%) new common stock (see dividends
104, p. 366.)
STOCK.—Common shareholders
to subscribe at par for
below). (V. 103, p. 1891; V.
LATE DIVS.
%
Common
Extra cash
do
4 yrly.
1
-
stock.
In 1920:
*14. *15. '16. '17.
56666668
*06-'09. '10. *11. *12. '13.
_
.....
10
5
5
5
5
20
*18.
8
0
5
„--f
.15/ „
stock; June, 2% in cash.
.
l; May, 20% in
Mar., 2% in cash; M
'20.
19.
8
—
2X 2H. See
text.
.
EARNINGS.—3 months ended March 31 1920 (estimated):
Total
Divs. &
Reserve for
Profits.
$2,097,006
1,777,114
REPORT.—For 1919 in V.
1919.
Extra common divs....
Chgd. off, &c., acct
Profit-sharing, &c
Reserve for deprec'n
Insur. Fd. Tax.,Dep.,Ac.
$620,383
623,508
110, p. 557.
Net profits
$5,615,004
Pref. dividend (6%)
912,498
Common dividend...(8%) 1,321,536
$500,000
600,000
Surplus.
$976,622
1917.
1918.
553,605
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
Ǥ.572
195,133
905,433
1,547,275
1,650,016
1,724,330
919,499
849,230
245,000
Reserved for taxes
2,550,000
1,800,000
$474,927 $1.398,635,, $4,320,160 $5,374,054
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. & Gen. Mgr., O. 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. 110, p. 1191, 1646, 1752.)
Balance, surplus
Total profit and
GENERAL CIGAR CO., INC., N. Y—OR G A NIZAT I ON.—Incorp.
April 28 1906 under laws of N. Y. as the United Cigar Manufacturers
The name was changed by court order effective March 1 1917 to General
Co.
^Business is that of the manufacture and distribution of cigars.
succeeded to the properties
and business of the
Company
United Cigar Manufacturers
acquired the business of Theobald & Oppenheimer Co. of
Phila., M. A. Gunst & Co., Inc., Bondy & Lederer, of New York, the Best
& 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
and has since
Output is
50 cities or towns.
The accumulated
1% in 1910 and
Surp.
Promts. Income. Depr^.Ac. (5%)
,
-
Bal.,
Pref.Div.
Interest,
Other
Net
Total
Income.
1919
declared-.-
do
do
July 1 '20 \X% New York
REPORT.—Cal.year 1919:
1920
Dividends
IX Checks from Co's office
Co'bPhiladelphia.Pa off
1 '2C
1 19S
Bonds of subsidiary companies: New Trinidad Lake Asphalt Co. deb. 6s,
due Jan. 1 1930, $1,940,000; redeemed to Dec. 31 1919, $1,006,860; out¬
standing. $933,140.
V. 70. p. 993; V. 71. p. 555; V. 79. p. 104.
Guaranty Trust Oo.-Ohase
Net Income
19'21
Juuel 1920 1X
Q—J
4,620,800
V. 108, p. 1613.
In May 1918 a
"substantial" amount of the stock was acquired by the
Nat. Bank interests through Hornblower &
Weeks giving them, it is understood, with previous holdings a working
eontrol.
Messrs. Williams and Wigmore then retired from the board.
V. 106, p. 2125.
Notes payable. April 30, 1919, $1,387,980.
Of the the
$3,000,000 6% serial gold notes, $1,000,000 were redemmed April 15, 1919.
REPORT.—Year ending April 30 1919, V. 108, p. 2526.
June
Q—M.
$5,000,000 call 110
other stock except present $2,000,000 8% cum.
The plan involved (1) the Issuing of
It
5,000.000 7 in 1919
100
GALENA-SIGNAL OIL CO.—ORGANIZATION, &C.—Incorp. in
in 1901.
Deals in railroad lubricating and signal oils.
Formerly
controlled by Standard Oil Co. but segregated In 1911.
In 1918 arranged to acquire control, subject to $2,800,000 6% bonds,
of important interests in the Humble, Tex., oil field, including 42 wells
(daily capacity, 3,00t) bbls.), 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;
V. 110, p. 968.
*s In connection with these acquisitions the shareholders voted May 211919
to increase the authorized common stock from $12,000,000 to $20,000,000
and on creating $8,000,000 ofi 8% cumulative preferred (a. & d.) stock
(callable at 115 and divs.), ranking as to assets and dividends ahead of all
New
text See text
A&O Apr
6 g
Houston, Tex
York City
O July 1 1933
&
r
i.ooo
Penn.
p.
do
3,400,000
Apr 1 20
2X Checks mailed
Q—J
5,925.000 7 in 1919
Harvey Fisk & Sons. NY
J
&
D June 1 1936
2,702.000
Apr 1 1020 IX Checks mailed
Q—J
2,000,000
Harvey Fisk & Sons, N Y
J
&
J Jan 1 1937
1.680,000
25 Broaa at. New Von
See text
Q—M
19,822.900 10>* '19
do
do
6
July 1 1920 1X
Q—J
16,333.300
May 1 1920 i X Check from Co's Office
Q—F
18,104.000 5 in 1919
&e
100
19il
do
Q—M
Sin 1919
1.550.000
&r
100
G.c*
General Chemical Co—Common stock, $20.000.000auth
Preferred (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 & d) stk ,VB" 7% cum
sk fd convert into common $ for $
See text
500
20,2%
Mar 31 *20. 2%
A&O '15 Apr 15
te
See text
100
1915
Mar 31
See
text
Payable
are
Sept 30 *18.1H Checks mailed
Q—M
A
6
2,800.000
None
1916
100
1st M lnt and sinking fund guar
do
1918
Dividends
Q—M
2.000,000 8 in 1919
8
4.000,000
100
100
text
tex tSee
$100 $16,000,000 See
...
Debentures
Places Where Interest dnd
Last Dividend
Outstanding
d) 8% cum $8,000,000 call 115
Convertible debentures—see text
Subsidiary Co. entire $6,000,000 stock owned—
Galena Signal Oil of Tex bds(parent co also ownsf1,000,000)
Gaston, Williams & Wigmore—8tock auth 800.000 shares..
Serial notes due $1.000.000 yly all or any call at 101 yO.c*
General Asohalt—Common stock
Pref (a & d) stk 5% cum convert (text) call 110 & div
c.
do
Amount
Valiie
Auth
8%
New pref (a &
Par,
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, Ac., see notes on first page]
common
(VOL. 110
INDUSTRIAL STOCKS AND BONDS
174
approximately 500,000,000 cigars annually.
increased nor can mtge. other than pur¬
be created without consent of 75% of that issue, and
STOCK.—Neither pref. can be
chase money mtge.
neither
has voting power
except while default for at least two
dividends continues.
quarterly
....
.
.
issued 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, at option or holders thereof. at any time
(except when transfer books are closed) and except if called for or the re¬
demption during the 10 days just prior to the redemption date for com.
stock
share for share, with a cash adjustment of dividends.
V. 108,
The $5 000,000 debenture pref. stock
an
annual cumulative sinking fund beginning
p.
2633; V. 109, p. 176,
375.
May, 1920.!
INDUSTRIAL STOCKS AND BONDS
Date
Par
Amount
Bate
When
Last Dividend
Bonds
Value
Outstanding
%
Payable
and Maturity
1902
1912
1917
$100 Ac
MISCELLANEOUS COMPANIES
,
{For abbreviationa. Ac.,
see notes on first
page)
General Electric Co.—Stock ($175,000,'>00'
Debentures tor Sprague stock gcall 105 (V. 75. p. 139)-xo
Debentures S60.000.000 g red 107 V4 not ooav.—Ba.xc'&r*
Gold notes $15,000,000 gold..
c*
Debenture bonds $15,000,000 g red 105
c*Ar*
—
Employees debenture bonds—
.
100
-
Ac
1,000 Sec
100 Sec
.....
1,000
1915
1919
500 Ac
100 Ac
1919
25 Ac
1910
1916
100 Ac
100 Sec
1.000
1,000
100 Sec
1919
&
Aug 1 1942
Sept 1 1952
Se
July 2 1920
Bankers Trust Co, N
F
&
Feb 1 1940
N Y A Boston
A
See text
Q-J
J
&
J
A
5 g
J Jan 1 1925
S Sept 1 1929
Oct 1 1934
Q—J
&
P
5g
M
&
5 g
6 g
A
&
A
Se
Fidelity Trust Co, Phila
Lincoln Trust Co, N Y
A Feb
New York
Fidelity Trust Co. Phila
New York
1 1930
S Mar 1 1945
O Feb 1 1946
O Oct 1 1929
New York
See text
Q—F
Q—F
Q—F
Q—F
15,703,310 sh. See text
6
10.957,000
0
89.092,800
100 217,602,400
7
100
100
V.
109,
May 1 1920 IV*
Mayl '20.1H %
May 1 1920 1%
common, 1909. 5%; 1910, 6%; 1911, 4)*%; 1912
1919, 4% yearly (1% Q.-F.); Aug. 1919 to May 1920, 1 Ut% quar.
p. 275, 375.
Checks mailed
do
do
do
do
do
do
Owned by
Gen.G.&E.Co.
1919, V. 110,
Int.
p.
on
Yr.
Profits.
Income.
Loans, &c.
1919-17,422,414 $3,028,483
$255,551
1918. 5,893,950
2,083,770
423,883
1917. 4,520,578
1,610,360
268,339
1916- 4,553,656
1,491,298
177,433
Vermont HydroElec. Corp.—Preferred
663, 764.
Balance,
Pf. Divs.
Com. Divs.
Surplus.
$482,887
$905,200 $1,384,846
350,000
724,160
685,727
350,000
724,160
267,865
350,000
724,160
239,701
Common.--.
—
Common
——
,
—
Common
Binghamton Lt. Ht. A P. Co.—Preferred
Common
Sandusky Gas Se El. Co.—Preferred-—
—
Common—
Northwestern Ohio Ry. A P. Oo.—Preferred
Common
764, 1752.)
,
ELECTRIC CO.—ORGANIZATION.—Organized
under
_
.
Gas Co.—Common
Reading Transit & Lt, Co.—Preferred "A"
a
below.
V. 109, p.
MOwns the rights for the
engines. V. 70. p. 1195;
Government suit, V. 93,
p. 2761; V. 107. p. 908.
pany
Preferred
Common
1024, 1194; V. 92,
599.
p.
J
,
Sayre Elec. Co.—Preferred
Common
Hydro-EIec. Corp.; compare
other subsidiary companies.
the
on
6%
1899.
1900.
3
In 1902 distributed 66 2-3%
—
8 yearly (Q.-J.)
4% y ly Jan 18 toJuly 20
—
stock, restoring 40% surrendered in 1898,
lSSU6S
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 Cross contributions.
V. 95. p. 2388,422.
•
,.
•
.
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.
An issue of
Employees 6% Debenture bonds, dated Sept. 1 1919, was
.
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.
1,015,078
(4)4,587,398 (2)2,030,156
1914.
1915.
1910 to Apr.'17.
•
Vermont Hydro-Electric Corporation.—Whose entire $550,000 issued
stock is owned by General Gas A Electric Co., on Oct. 1919 made a
000,000 auth.; present issue, $1350,000
1928, equal to 1% of amount issued.
has sinking fund Oct. 1 1922 to
REPORT.—For cal. year 1919, fia V. 110. p. 1522, shows: Dividends,;
Ac., received, $303,586; net, after taxes, $284,881; other Income, $2,630
Int. charges, $244,611; bal., $42,900.
-—-—
Combined Operating Income of Subsidiary and Affiliated Companies
Controlled by the General Gas & Electric Co., 12 Months Ended Aug.
$3,351,962 $15,737,946 $10,467,882
31 1919, $64,010,245.
Balance, over divs—$10,759,684
Total surplus Dec.
convertible pref. (convertible into com¬
1st M. to Mercantile Trust Oo. of N. Y. as trustee, to secure bonds without
limit as to amount Issuable in series under careful restrictions; Series A $2,-
——
-----
non-cum.
com.
1919 in V. 110, p. 1410, 1435.
1918.
1917.
1916.
Sales
$229.979,983$216,815,278$196,926,318$134,242,290
Net, after ord. taxes—— $38,355,221 $32,982,071 $33,516,830 $19,160,973
Interest, Ac—
2,277,250
2,377.089
1,113,002
571,445
Federal taxes (est.)
11,000,000
13,500,000
5,500,000
-------Dividends (8% p. a.).—
9,545,469
9,165,622
8,120.648
8,121,646
REPORT.—For year ending Dec. 31
Calendar Year—
1919.
Red Crossdiv. (!%)_.
--Div, in stock
(4%)4,772,918
The
(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 (a) $3,000,000 Metropolitan
Edison Co. com., (b) entire $2,900,000 com. stock of Reading Transit &
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 Corp.
(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
10t months int. and if called interest from preceding Jan. 1 to redemption
date, Ac.
Initial payment of 1 % % made on April 1 1920.
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. 1920, incl., paid semi-annually 2% extra in stock.
authorized in Dec. 1919.
V. 110, p. 81.
The $15,000,000 20-year debentures,
on common.
BONDS.—Convertible bonds of 1912, auth., $20,000,000; issued and
outstanding Dec. 31 1919, $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
1902 to July 1920.
1901.
9
6)4
„
—
4,000
100,000
Vermont
5)4
7
7 (1 H% Q—J)
high operating costs, due to the
necessity of buying a large amount of spot coal and to other more or less
temporary causes, pref. div. was deferred. V. 105, p. 1713; V. 104, p. 2643.
one new share for each 10 shares outstanding
Outstanding in April 1920, $135,123,000.
V. 110,
DIVIDENDS.—
4,000
100,000
Co. and
also "Electric Ry. Section" for statements of
DIVIDENDS
f
1912.
1913.
On 7% Preferred
%\ 1)4%
0
In June 1918, because of exceptionally
1191.
In cash, per cent
In stock J&J
—
Edison
mon at par at any time) is pref. over common as to assets and as to 4%
dividends in 1910, 5% in 1917 and 0% thereafter.
V. 105, p. 1713.
basis of
$125 per share.
-
CAP. STOCK OF GEN. GAS A EL. CO.—The 7% pref. (cumulative
from July 1 1915) is entitled to participate with common in any year after
,
STOCK—The stockholders voted Mar. 16 1920 to Increase the author¬
ized capital stock from $125,000,000 to $175,000,000.
The directors have
new stock for subscription by stockholders of record
p.
—
———— —
-
authorized the issue of
at
—
Waverley El. Lt. A P.—Common
The Jersey Corp.—Common
General Finance Corp.—Common
See separate statements of Metropolitan
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 Hayward Co., Baltimore, in May 1920.
V. 110, p. 1976.
April 6 1920
—;
-
Oley Valley Ry. Oo.—Common
Wages, V. 100,
,
------
—
Neversink Mountain Ry. Co.—-Common.Port Clinton Elec. Lt. A P.—Common
1704.
,
U. S. under patents covering Curtis steam turbin*
V. 77, p. 2101; V. 82. p. 1272.
Settlement of
p.
"B"
-
—
Interurban
GENERAL
special charter of New York April 15 1892, and manufactures outfits for
electric railways and all kinds of electrical supplies.
V. 85, p. 155. 1648;
V. 62. 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 Se Share Oo.
V. 79. p. 1706.
2645: V. 81, p. 510; V. 103, p. 1595.
International General Electric Co.
export organization.
V. 108, p. 83,385; V. 110. p. 1435.
In 1919 acquired
control of the Cooper-Hewitt Electric Oo. and Trumbull Electric Co.
V.
108, p. 2437; V. 109,p. 375.
Adirondack Elec. PoW. Corp., V.109,p.2441.
As to organization of Radio Corp. of America, see caption of that com -
—
-
Pittsford Power Co.—Preferred
OFFICERS.—President, Fred Hirschhorn; Senior V.-Pres., R. O. Bondy;
p.
650,000
550,000
550,000
107,000
.1,700,500
1,679,100
200,000
300,000
300,000
487,500
500,000
500,000
100,000
600,000
500,000
600,000
500,000
800,000
800,000
6,000
6,000
160,500
—1,511,500
1,300,000
2,900,000
2,900,000
250,000
250,000
100,000
100,000
21,356
21,356
100,000
100,000
150,000
150,000
60,000
60,000
-
Rutland Ry. Lt. & Pow. Co.—Preferred
VIce-Pres. & Treas.. William Best Jr.; V.-Ps., Milton H. Esberg, B. G.
Meyer; Sec., H. V. Shick.
Office, 119 W. 40th St., N. Y.—(V. 109, p.
176, 375, 475, 1183, 1529; V. 110,
Outstanding, or Sub. Cos.
„
_
REPORT.—Cal. year
Cal.
Gross
Net
J
New York & Philadelphia
S Mar 1 1946
&
None
Guaranty Trust Co. N Y
Co, N
New York Tr
O Apr I 1946
N May 1 1920
Se
M
New York
July 1 1932
&
&
M
6%
New York
&
M
6 g
7
J
DIVIDENDS.—On
to May
1
Sept 1 1934
5 8
5 g
1,960.000
991,000
866,000
1,285.000
1,350,000
1,000 Sec
1,000
1915
from Co's Office
Guar Tr Co, N Y; As Boaf
NY. Boston & London
.A
J
g
t8
3,786,900
980,000
1910
Check
F
M
634,775
1906
See text
Q—I 15
Places Where Interest ant
Dividends are Payable
4.515,400
1912
1910
text
3^
2,500.000
4,025,900
1,077,000
450.000
4,250,000
100
—•
Eq.c*Ar*
Ten-year gold bonds $1,411,000 callable at par..
.G.c*
Secured 0% bonds $4,700,000 call par
-Nxxxkc*
Income bonds 7% non-cura call par.........
Me.xxxc*
Principal B ond, Ac., of Subsidiary Cos (See also text)—
Pennsylvania Utilities Co 1st M $50.000,000g call I05<*»&r*
10 year 2nd Mtge notes callable 110--.-—
gxz
Rutland Ry, Lit & Power 1st M (closed)
—
.c*
N J Power A Light Co. 1st M unlim g
Gxc*
Sand G & El 1st Kef & ImpM$2,000,000 s f call 103 text.c*
Blng'n L.H&POo 1st Ref M (V I02.p 1719) call 105-G.c*
Vermont Hydro-EIec 1st M ser A g call 101 s f 1 % Me.xxxc*
Metropolitan Edison Co—See separate statement..
Reading Transit A Light Co—See "Elec. Ry. Section"—
General Motors Corp—Common stock auth 50 000.000 sh
Pref stk 6% cum non-vot red 110 & divs $20,000,000
Debenture stock $90,000,000 6% cum call 115
Debenture stock $500,000,000 7% cum. call. 120
See
.
See text
100
100
callable 125
Convertible preferred stock.
First Lien convert call 105 $20.000,000.
See text
$2,047,000
10.000,000
15,000,000
15,000.000
50 Sec
SI0,000,000-
stoea
Pref stock $7,000,000 7% cum A parfcic
500
1920
1919
....
General Gas 6c Electric Co—Common
175
1919.
$5,199,993
2,864,975
610,328
$6,283,266
$4,610,718
$7,030,914
$5,877,809
$8,079,008
$6,199314
$1,672,548
$1,753,104
$2,479,694
1917.
$3,431,294
2,241,644
$5,383,000
Oper. exp., taxes A; rents $3,685,974
Electric
DIRECTORS.—C. A. Coffin (Chairman).
E. W. Rice Jr. (Pres.),
Gordon Abbott, Oliver Ames, Boston; Anson W. Burchard (V .-P.), George
P. Gardner, Francis L. Higginson, Jr., New York; Robert Treat Paine 2d,
Marsden J. Perry, Seward Prosser, B. E. Sunny, George F. Baker, Jr.,
and Philip Stockton.
N. Y. Office, 120 Broadway.—(V. 110, p.1294
—
—
Railway
Gas--
Total
-
-
.......
1410, 1435.)
Operating income
-
$1,697,686
Norm
31.
1918.
$4,589,906
2,444,094
590,854
1916.
$2,820,072
2,010,249
553339
Operating Revenues—
014,040
OENERAL OAS & ELECTRIC CO.—ORGANIZATION.—Incor¬
porated in Maine July 3 1912 (V. 95, p. 110).
Owns control of public
•ervlce 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 Utilitie ■
Coal Co.. whichjssued $325,0001st M. 6s ($450,000 auth.). V.104, p.2237.
Clement Swenson; Treas., William
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 companiest outsanding, the company controls over
GENERAL
MOTORS
CORPORATION.^RGANIZATION.—Incorp. In Del. Oct. 13 1916 as successor to Gen. Motors Co. (of N. J.)
On
Aug. 1 1917 the N. J. company was dissolved.
For plan see V. 103, p.
1510, 2346.
; '
OFFICERS.—Pres., W. S. Barstow; V.-P., Jos. B. Tavlor; Sec., O.
Y.—(V. 110,
3.000,000
800,000
828,571
760,100
Pennsylvania Utilities Co.—Preferred
Common
Eastern Penna. Pow. Co. of N. J.—Common-.-—
Gas Works—Preferred
-
E as ton
—
Common
-
—
——
—
——————
—.
N. J. Pow. A Lt. Co.—PreferredCommon
-
—
——————————
and subsidiaries have 41
2,000
200,000
269,400
200,000
345,700
805357
2,000
200,000
269,400
------
345,700
49,118
an4
July 1 1919 to June 30 1920 (y»
512,000 motor care, viz.: Bufck,
TUiUUV»
.3,000,000
Common
Corp.
\
11/)
DnilFn/li
vr ai/uuici
7
""y*
V
motor-drawn farm tools, Ac.], 75,000 (making a total of 652,000 vehicles
and Implements.)
(e) Automobile parts: Delco and Remy starting, light¬
Owned by
Gen. G. & E. Co.
Outstanding, or Sub. Cos:
-—2,500,000
_——
As 0/Dec. 31 1919—
Metropolitan Edison Co.—Preferred
Office, 50 Pine St., N»
Motors
manufacturing and assembling units and
ufacturing capacity for the season from
108, p. 2025) was to be as follows: (a)
General
PROPERTY.—The
1796.^
Stocks of Subsidiary Companies Owned.
Buchsbaum.
663, 767, 1191, 1522.)
f
99% of the Common stock and over 76% of the Preferred and Common
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.. &c.—(V. 109, p. 480,
stocks
,
p.
'
ing and Ignition systems, Hyatt roller bearings. New Departure bail bear¬
raciiators, A-U sparK mug», motors,
ings, Harrison radiators, A-O spark plugs, uivwlts, axles, rims, gears1 and
nuw, Btfctra auu
D
nVtiriAO
4parts.
(J) Refrigerating machines, Frigidaire Ice plants
(V. 107, p. 2292.)
A detailed statement as to properties as of Jan. 20
1919, appeared in V. 108, p. 882.
Additions to plant, V. 110, p. 364.
,
_
r
ii.
-J.—
/
x\
I/>A
r\
*\
n
n
miscellaneous
ACQUISITIONS.—As of May 2 1918 all assets of Chevrolet Motor Co.
acquired.—
of Del. (except its 450.000 shares of Gen. Motors Corp.) were
V. 106, p. 824,2761; V. 107, p. 1006, 1194.'
In l5ec. 1918 acquired tfhited Motors Corp.—V. 107. p.
V. 108. P. 83.584.
1484, 2101;
General Petroleum Corp.—Com. stock $47,000.000
Pref. (a. & d.) 7% cum. call, at par $3,212,200
Serial Gold notes (V. 104, p. 2556) $330,000. June 1,
$1,650,000
U. S.
Gen P L Co 1st M(V 94 p 1568V103pl414)calll05 s f 102H
Gillette Safety Razor Co—Stock 250,000 shares
...—
Glrard Point Storage—See Pennsylvania RR.
Uoldfield Consolidated Mines Co—Stock $50,000,000 auth—
Uoodrich (B F) Co—Common stock 1,500,000 shares
Preferred (a & d) 7% cumulative auth $48,412,000
Convertible notes (see text)
__Bac*
Goo4year Tire & Rubber Co—Common stk $50.000.000
New 1st pref (a & d) stock 7% cum $100,000,000 call 110 sfd
In Jan. 1919 acquired
entire capital stock of Gen.
108, p. 272, 584; V. 107, p. 1923.
State Automobile Co., Munica, Ind.
In Oct. 1919 announced that control had
ada.—V.
house light business and plant at
Co. of Detroit, and had made an
Par
Amount
Rate
When
Last Dividend
Value
Outstanding
%
Payable
and Maturity
See text
text
Q—M
Dec 1 '19 IX %
V
$100
1917
None
100
100 &c
100
100
1920
Motors Corp. of Can¬
In 1919 acquired the Inter„
.
a
p.
Pont de Nemours & Co. ac¬
constituting with the holdings
Y. 106, p. 824, 2761; V. 108,
Possible purchase of $36,000,000 stock by
27.6% interest in the corporation
controlling interest.
1606, 2245; V. 109, p. 480.
British and Canadian interests,
V. 110, p. 2079.
CAPITAL STOCK.—On Jan. 6 1920 the shareholders voted
the authorized stock to the following amounts: $20,000,000
to change
6% Pref.,
$90,000,000 6% Deb. stock, $500,000,000 7% non-voting Deb. stock
issue), having a par value of $100, redeemable at 120 and ranking
passu
with Pref. and old Deb. stock, 50,000,000 shares
value.
Ten shares of new Com. of no par
change for each share of old Com. of $100 par
made on and after May 3 1920.
par
(new
parri
Com. stock without
value will be given in ex¬
value, the exchange to be
•
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.
VT 108, p. 83, 174.
CHANGES
IN
CAPITALIZATION.—The
shareholders voted
Dec.
10 1918 (1) to authorize an issue of not exceeding $150,000,000 6%
benture stock, of which $20,000,000 was made exchangeable for the
de¬
out¬
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.
voted to increase the authozired issues
of common and debenture stock to $500,000,000 each, in order to make
provision for future financing as required from time to time, and not with
a view to any immediate issue.
V. 108, p. 1824, 2025, 2437.
On June 12 1919 the shareholders
$50,000,000 Deb. stock was offered to the
In May 1919
p.
public.
V. 108,
7
198
Q—J
Aug 16 '20 IX Checks mailed
do
do
Julyl'20,IX %
Bankers Trust Co, N Y
Apr 1 1925
Mar 1
3%
*20
Apr 1 1920
IX
"19, in V. 109. p. 977, showed:
Pref.
Com.
Bal.
REPORT.—For fiscal year ended June 20
Gross
Gross
Profit.
Income.
Deprec.
Int. &c. Div. (7%) Divs.
Surplus.
4,391,171 224,154 bl.65f,497
7,864,827 6,846,748
573,226
8,183,106 7,330,989 3,568,499 224,854 cl.349,018 2,188,621
1918-19
1917-18
a
preferred stock and the debenture stock may be exchanged on
basis or one share of pref. or deb. stock and $100 cash for two shares of
the
7%
deb. stock.
(V. 108, p. 2025): (a) The right to vote
stock unless the earnings are IX times the
the dividends on the outstanding debenture stock.
(6) In case of default on the dividends for six months, the holders to have
the right to vote, to the exclusion of holders of common stock,
(c) No
debenture stock to be issued unless the net assets above the direct liabilities
shall amount, after the Issue of the debenture stock, to 1X times all deben¬
The debenture stock possesses
equally with the
common
amount required to pay
issued and
outstanding.
(d) No mortgage or other lien, with
certain specified exceptions, such as purchase-money mortgages, to be
created without the consent of three-fourths of the debenture stockholders.
(e) Redemption figure $115 a share, compared with $110 for
pref. stock.
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 on the pref. and debenture stocks,
a dividend of 25 cts. a share in cash and l-40th of a share in stock on the
new com. stock without par value, and a dividend on the old com. stock of
the par value of $100 a share at the rate of $2 50 a share in cash and onefourth of a share of common stock without par value, payable May 1 1920.
DIVIDENDS.—On com., in 1917. Feb., 1%; May
Payable
75c Checks mailed.
Dec 31 *19
text
4 In 1919 See text.
12,000 7 in 1919
A
&
O
7 g
30,000,000
12
20.466.800
Q—M
See text
are
Union Trust Co., San P.
J June 1 1920-22
N Y, San Fran & Londoi
&
J Jan 1 1925
Q—M June 1 *20 $3.50 Boston
Includes Federal income
1917-18, $1,997,520.
and
(11)4%).
b
profits taxes ,1918-19, $649,146;
c(10%).
President. John Barneson „
excess
New York office, 52 Broadway.—(V. 110, p. 81, 470.)
San Francisco.
GENERAL PHONOGRAPH CO.—(V. 110, p. 974, 1191. 1854.)
GILLETTE SAFETY RAZOR CO.—Incorporated in Delaware Sept. If
1917 (V. 105. p. 1108, 1213),
at Boston,
Plants located
succeeding Mass. corporation.
I.
Mass., and Montreal, Canada.
.
.
STOCK.—Authorized, 250,000 shares 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 shares in 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.
DIVIDENDS.—Rate previously $7 p. a., was in
Aug. 1918 Increased to
$8 (extras of $1 were also paid In June and Nov. 1918 and May 1 1919),
and in Aug. 1919 to $10 per share; Dec. 1 1919 and Mar. 1 1920, $2 50 quar.;
June 1 1920, $2 50 and |l extra. V. 108, p. 1294; V. 109, p. 176.
ANNUAL REPORT.—In full in V. 110, p. 760, showing:
Without Reserve for Taxes—Sales.
Company's Net Earnings
The sales include the sales of subsidiaries in England, France
1918.
1919.
razors 2,315,892
Doz.bladesl 7,320,517
Co.'s net earns..$6,025,350
Sales, No.
and Canada.
1916.
1917.
1915.
4,580,987
1,094,182
782,028
451,861
12,89*.,618
9,619,030
7,153,466
5,928,117
$5,252,136 $4,603,782 $3,192,832 $2,427,174
OFFICERS.—Chairman, J. E. Aldred; Pres.. King C. Gillette; V.-Pres.
Sec., Frank J. Sullivan.
Office, 47 West First
St., Boston.—(V. 109, p. 176, 682; V. 110, p. 670, 773.)
& Treas., Frank J. Fahey;
GODCHAUX SUGARS,
INC.—(V. 109,
76, 176, 2360.)
p.
GOLDFIELD
CONSOLIDATED
MINES CO.—ORGANIZATION.—
Incorp. in Wyoming Nov. 13 1906.
Owns 381 acres of mining ground in
fee.
Owns an Interest of about 25% In O. O. D. Consolidated Mining Co.
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
2025.
The
ture stock
J
Dividends
&
See text
None
by purchase of 300,000 shares of Its new common on a basis adding about
$30,000,000 to that company's current assets.—V. 109, p. 1673.
For other acquisitions see V. 108, p. 882; V. 109, p. 2267.
Organized the Gen. Motors Acceptance Corp. in Jan. 1919.—v. 108,
p. 484; V. 110, p. 2079.
of President Durant a
35.591.480 See
10
J
6 g
6 g
924,000
3,781,000
224,430 shs.
1,000
1,000
1912
7%
$3,212,200
100
been acquired of the Delco
Dayton, O., and the Sunnyhome Elec.
offer for control of Fisher Body Corp.
CONTROL.—In March 1918 the E. I. du
Places Where Interest and
Date
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, Ac., see notes on first page]
quired
[VOL. 110.
INDUSTRIAL STOCKS AND BONDS
176
Goldfield Development Co., a
new
independent company (backed by local (Goldfieldl interests), for a
royalty of from 15 to 20% of the net proceeds of the ore produced.
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 com¬
pany.
V. 108, p. 1277.
1'09. '10.
DIVIDENDS—
Cents per share
Cal. Year—
90 200
Gross.
$796,410
1,671,285
2,271,704
3,505,549
1917
1916
1915
'11. 1912. 1913.
200
160
17
1914.
1915.
30
45
1916-18.
F.)
(B.
75
Balance.
$29,398 $866,208
def.$837,811
196,634
196,634
None
428,620
428,620
None
1,558,308
735.712 (4X%) 1,601,617 def.$779.020
Net Profs. Deprcc.,&c.
Dividends.
None
None
OFFICERS.—Pres., George Wingfield; V.-P., J D. Hubbard;
Treas., C. F. Burton.
Office, Reno, Nev.—(V. 106, p. 2232.)
N. Y.
1919.
Nona
GOODRICH
Sec. &
CO.—ORGANIZATION.—Reincorporated
in
May 2 1912, and in June 1912 acquired Diamond Rubber Co. (V. 93,
1262), having adjoining plant at Akron, O.
V. 94, p. 829, 1386, 1629.
Manufactures a large variety of rubber goods, including automobiles tires.
p.
exceeding 125 and
be retired yearly after July 1 1913
profits before divs. are paid on com. stock.
Entire voting
Year ending Year ending
5 Mos. to
power for election of directors is vested in com. stock until four quarterly
REPORT.—
Dec. 31 '19. Dec. 31 *18. Dec. 31 *17.
pref. divs. are in default. V. 94, p. 1629. Pref. stock formerly $30,000,000,
Cars and trucks sold
406,158
246,834
86,901
reduced by sinking fund prior to Oct. 11919 to $24,600,000 (V. 106, p. 1130).
Net sales
$509.676,695$269,796.830 $96,295,741
Auth. pref. stock increased to $49,60c,000 June 26 1919 and $15,000,000
Net profit after deprec., &c
90,517,519
35,504,576
17.359,488
offered to stockholders of record July i at $102.
The $8,000,000 thereof not
War taxes, &c___
30,000,000
20,113,548
2,848,574
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 Mar. 1920.
Balance
1
$60,517,519 $15,391,028 $14,510,914
The stockholders on Mar. 15 ratified the recapitalization plan which pro¬
General Motors proportion
60,005.484 $14,825,530 $14,284,873
vides that (1) authorized common stock be increased from 600,000 shares
Preferred dividends
(6)1,032,376(6)1,180,901
491,890
of $100 par value to 1,500,000 shares of no par value.
Of the new stock,
Debenture stock, 5 months
3,180,136
739,566
600,000 shares will be exchanged share for share for the old common, 125,000
Common stock (12% per annum;
17,324,541
11,237,310 (3)2,294,199
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 will be issued immediately $30,000,000 FiveBalance, surplus__
$38,468,431
$1,667,753 $11,498,784
Year 7% Convertible gold notes, convertible after Apr. 1 1922 into common
OFFICERS.—Pierre 8. du Pont, Chairman; J. J. Raskob, Chairman of
stock at $80 a share.
Red., all or part, on any int. date at 103 if redeemed
finance committee; W. C. Durant, President and Chairman of executive
on or before Apr. 1 1923; at 102 if redeemed thereafter, and on or before
committee; T. S. Merrill, Sec.; M. L. Prensky, Treas.; Frank Turner,
Apr. 1 1924, and at 101 thereafter (with int.).
Each $1,000 note will have
Comptroller.
Main office, Detroit.—(V. 110, p. 565, 875, 1294 1418,
a stock purchase warrant attached (which may be detached and held and
1637, 1854, 1976,2079.)
disposed* of separate and apart from the note) entitling the holder on or
before March 31 1922, or, ir all notes are earlier redeemed, on or before the
GENERAL PETROLEUM CORP.—ORGANIZATION.—Incorp. May
redemption date, to purchase 12X shares of common stock at not more than
25 1916 in California, successor to company of same name, foreclosed June
$80 per share.
The warrants attached to notes of smaller denom. will per¬
28 1916 per plan of reorganization in V. 102, p. 889.
Owns various oil mit the purchase of a proportionately smaller number of shares.
fields, held In fee or under lease, in California and Mexico. V. 104, p. 2556.
Offerings to Stockholders.—Common stockholders of record March 15 1920
For recent acquisitions, &c., see V. 109, p. 977.
Owns entire capital stock
had the right to purchase notes at the rate of $100 of notes for each two
($2,000,000 class "A" and $5,500,000 Class "B") of General Pipe Line Co.
shares of common stock held, at $99 and int., if any, for each $100 note,
STOCK. NOTES, &c.—Pref. may be redeemed at not
divs.
V. 110, p. 1294.
At least 3% of pref. stock must
from surplus
.
of California.
ized
common
or,
V. 103, p. 1414.
STOCK.—The stockholders voted
on
Jan. 19 1920 to increase the author¬
stock from $21,787,800 to $47,000,000.
Rights.—Common stockholders of record Dec. 15 1919 were given the
per share for 57,424 shares of com. stock
to the extent of 33 1-3% of holdings. V. 110, p. 81.
privilege of subscribing at $125
DIVIDENDS.—Initial div. of 3X%
paid on Pref. stock Sept. 1 1916
and IX % Q. since to Dec. 1 1919.
On Common initial div. of 10% was
declared payable 2X% each on Oct. 1 1917, Jan., Apr. and July. 1918;
Oct. 11 1918, 2X%\ Oct. 31 1918 to Dec. 31 1919, 1% monthly.
alternatively, to purchase shares of common stock at the rate of 1X shares
share and also could subscribe, subject
to allotment, for additional notes or shares at the same prices,
(b) Pref.
stockholders were given the privilege of subscription at the above prices to
notes or shares without limitation as to amount but subject to allotment.
for each two shares held, at $80 per
V. 110, p. 767,
875, 1191.
regularly IX% to and including
On common 1 % was paid Aug. and Nov. 15 1912 and Feb. 1
Dividends on pref. have been declared
Jan. 1 1920.
1913; then none till Feb. 1916 to Nov. 1919, 4% per ann. (1% Q.-F.).
In
1920 paid 1% quar. and X% extra, and in May 6c Aug. 1920 paid
Feb.
IX %
quarterly.
Date
Par
Amount
Bate
When
Last
Dividend
Bonds
Value
Outstanding
%
Payable
and
Goodyear Tire & Rubber Co of California—
Pref (a&d) stock 7% cum $10,000,000 call 5 yrs 105, then 110
Granada Oil Corp—-Class A shares auth 135,000 shares
Inc.—1Common stock—
$12,500,000 (3% s fd) call 115
7%
Into pref stk; call after
cum
Calendar Years—
Net income
Income and excess profits
Interest on bills
payable,
Depreciation, &c
Preferred dividends (7%)
Common dividends (4%)
Pref. stock redeemed and
$5,257,490
$6,083,060 $10,442,609
surplus
applicable to 1918 earnings.
GOODYEAR TIRE
in
1898.
Cleef;
O.—(V. 109, p. 1183; V. 110, p. 762,
& RUBBER
CO.—ORGANIZATION.—Incorp.
O., capable (V. 109,
Owns fireproof plant, at Akron,
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,
p.
2439. Dirigible balloons, &c., V. 106, p. 2563; V.
107, p. 1388. Owns
Co. of Calif.,
entire $3,000,000 common stock of Goodyear Tire A Rubber
which see below.
Acquisition of coal lands, V. 110, p. 875.
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. 1919, with a view to a broader financial plan for the future, the
company (1) called for payment at 105 on Nov. 1 all the $13,124,600 2d
2d pref. (a.
A d.) stock.
Sref. 1stock, all the $23,636,200 1st prer. stockto(so far as pay exchanged—
1920 (2) announced that it purposed
call and not off at 105 on
an.
shareholders on Nov.
authorized capitalization so as to include only (a)
$100,000,000 common stock, par $100, which may be reduced by subdivision
to a 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
provision forbidding mortgaging the property or issuing any additional
pref. stock without consent of 75% of pref. stock outstanding. V. 109,
p. 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
oefore Nov. 17, the 1st pref. stockholders also being allowed to turn in their
stock at $112, receiving new pref. stock at $100 a share and $2 cash. V. 109,
see
17
p.
below.)
dated April 25 1920
received by Josephthal & Co. of New York,
stated that geologists had reported oil in large quantities
certainty; that the company's Magdalena holdings, 90,000 acres in one
block adjoining Sinclair Oil & Refining Co., were likely to prove one of the
properties in Colombia; that preparations were being made
best
It was also (3) arranged as authorized by
to
drill:
wells, and that the company expected to be selling oil for local consumption
by the fall of 1920 and soon thereafter for foreign consumption.
CAPITAL
STOCK.—Authorized,
135,000 shares Class A stock
and
365,000 shares Class B stock.
Par value (both classes), $10.
Outstanding,
135,000 shares Class A stock, offered by Josephthal & Co., New York, in
Dec. 1919.
The Class A stock has the same rights as to dividends and
Class B stock to
distribution, and
with the holders of the Class B stock.—(V. 110,
voting power as the Class B stock, and is preferred over
the extent of $6 per share in the event of any capital
171.)
p.
>
GRANBY CONSOLIDATED MININO, SMELTING & POWER CO^
LTD.—ORGANIZATION.—Incorporated Mch. 29 1901 In British Column
bla.
Owni low-grade copper, Ac., deposits; also smelter at Grand Forka,
B.C. V. 79,jp. 1644; V. 81, p. 1490; statement to N.Y. Stock Exchange.
V. 85. p. 403; report of expert, V. 91, p. 1260; V. 96. p. 289.
In 1907 a,
large Interest waa acquired In the Crow'a Neat Pass Coal Co., which pro¬
vides the coal supply.
V. 88, p. 155.
Developments, &c (Feb. 1920).V. 110, p. 875.
'17.
2«qu.
DIV.l *13. *14. Aug.'U to Mo»T6. Aug. ANov'lH.
CAPITAL STOCK.—The shareholders voted Jan. 14 1918 to increase
the authorized capital stock from $50,000,000 consisting of $25,000,000
common stock and $25,000,000 7% cum. pref. stock (of which on Oct. 31
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) $25,000,000 new? %
cum.
Marl '20 1 H%
June 1 1921
a
thereafter shares pro rata
OFFICERS.—Chairman & Pres., B. G. Work; Sec., F. C. Van
Treas., L. D. Brown.
Office. Akron,
875, 1092, 1191, 1530.)
Q—M
6g
May 1 1919 1H Company's office
Title Guar A Tr Go
May 1 192$
New York
May 1 1925
Mar 1 '20
2%
A cablegram from Cartagena
1919.
1918.
1917.
$141,343,419$123,470,187 $87,155,072
$20,340,214 $21,610,322 $15,220,277
taxes
*5,558,912 Not deducted
2,250,000
&c
1,199,862
1,993,032
1,333,144
2,851,381
4,089,681
1,231,644
2,247,000
1,785,000
1,848.000
2,400,000
2,400,000
2,400,000
canceled—
L_
900,000
900,000
♦Paid during 1919, but
in Ohio
See text
1.000
1916
June 11919102H-Eq.c*
1919 in T. 110, p. 762.
REPORT.—For
Net sales
Balance,
15.000.420 10 in '18
Q—P
100
M A
N
6
100 Ac
1.503,300
M & N
8
100 Ac
2,500,000
25
2,722,600
None 250,000 shs
See text
7
100
Q—M
1913
1920
5-yr conv deb bonds auth, $2,500,000 red (see text)_Cec*
Gray & Davis, Inc—Common stock auth $2,722,600
Pref stock
Payable
are
10 135,000 shs
None
10
Gran by Consol Mln Smelt & Pow Co—Stock ($25,000,000*
1st M convertible bonds series A gold red see text
set
Notes
Dividends
New
Q—J
$8,000,000
$100
Class B shares auth 365,000 shares
Great Atlantic & Pacific Tea Co
Places Where Interest and
Maturity
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on first page]
conv
177
INDUSTRIAL STOCKS AND BONDS?
MAY, 1920.]
/
%
3
6
6%
(1K%Q.-F.)
2% each
1919.
SH
'18.
10
15-year bonds, subj. to call after
Stockholders In 1913 auth. $5,000,000
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;
present $3,440,000 (convertible Into com. stock at par until
May 1 1923) limited to $650,000.
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
Issues above
net earnings or 1 % of copper ore mined (except at Phoenix).
V. 96. p. 289.
718; V. 100. p. 1513, 1596; V. 98, p. 1319. 1611; V. 101, p. 1275.
Loans
and bills payable June 30 1919, $5,035,243.
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; (5) an
capital stock from $20,000,000 to $25,000,000.
the deben¬
bonds at par to the amount of about one-sixth of their holdings.
increase in the
Shareholders of record March 6 were entitled to subscribe for
1919 to change the
ture
The bonds
are
prior to maturity into ordinaryvalue for $55 principal amount or
convertible at any time
shares at rate of one share of $100 par
part, at any time after May 1 1921, and on or
before May 1 1923, at 110% and interest; thereafter at 105% and interast.
bonds.
V.
Redeemable, all
110, p.
or
875.
Copper Output (in lbs.)—
1920—Apri —1919.
Pounds
2,105,400
1,334,396
1920-4 Mos.—1919.
8,356,339
7,768,761'
REPORT.—Year end. June 30 1919, V. 109, p. 1985:
Cross
Net, after Deprec.,&c.,
Dividends
Year—
Income.
Interest.
Reserve.
Paid.
1613, 1703, 1796, 1991.
June 30
DIVIDENDS on pref., 1M% quar.
in full to Oct. 1919.
Balance,
Surplus.
1918-19
$6,561,099def$219,839 $764,570 (8^)$1.312,537
(x)
11,644,310
3,542,624 2,015,491
1.500,042
27,091
12,259,185
5,222,476 1,256,266
(9)1,349,962 2,616,248
9,299,337
3,819,295
(6)899,911 2,919,384
On new pref.
paid l%% in April 1920.
On com. 12% yearly Nov. 1912 to Mar. 1920
(3% Q.-M.).
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.
REPORT.—1918-19, V. 109, p. 2261; 10-year growth, V. 106, p. 293.
Cross
Net
Pref. Divs.
Common
Balance,
Year—
Business.
Income.
1st A 2nd % Dividends.
Surplus.
1917-18
1916-17
1915-16
$17,973,950
1917-18.
$10,736,639
1916-17.
10.316,824
1915-16.
4,977,759
1914-15.
3,081,240
Net income, as above, in 1916-19 is subject to Federal taxes.
Tota
p. & 1. surplus Oct. 31 1918 subject to Federal taxes, $20,717,357.
$168,914,983 $23,277,245 $2,813,940 (12)$2,489,355
131,247,382
15,388,191 $2,199,736 (12)$2,451,816
111,450,643
14,004,206
1,499,040 (12) 2,228,342
63.950,400
7,003,330
764,239 (12) 1,261,332
36,400.652
5.127.083
460.583 (21) 1,686,151
1919
dated Oct. 14 1919 says "One year ago, due to con¬
ditions growing out of the war, we were employing approximately 14,000
men, making at the low point (November) less than 11,000 tires per day,
with a volume of business approximating $8,000,000 per month.
We are
now employing 25,000 men, making in excess of 29,000 tires per day, and
our business for this month will approximate $20,000,000 in volume.
Nev¬
ertheless, we have not been able to produce in excess of 70% of our sales
requirements.
To meet the growing demand we find it necessary to in¬
An official statement
crease our
equipment and working capital, and to make
financing on broad lines." V. 109, p.
DIRECTORS, &c.—Pres.,
GRAY
&
DAVIS,
INC.—Incorporated under laws of Massachusetts
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¬
cipal business is the manufacture of starting-lighting systems and lamp
equipment for automobiles, and also manufactures a large number of
component parts which go into the starters installed by other companies.
The company also has a bouse lighting system which it has been developing
for a number of years and which it is about ready to place on the market,
and is commencing to manufacture the "Unit Car," a railroad car with a
self-contained steam power plant.
,
CAPITAL
par
$25.
ment
STOCK.—Common,
A Asst.
The preferred stock ($131,800
Jan. 1 1920.
plant with a capacity of 3,000 tires a day.
Entire outstanding common
stock, $4,000,000, 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.
GOODYEAR TIRE & RUBBER CO.
p.
OF CANADA, LTD.—(V. 109,
2268, 2360; V. 110, p. 81.)
(H. W.) GOSSARD CO.,
in
1919.
The
Apr. 14 1913, 5%; July 15
25%; Mar. 1 1920, 2%.
EARNINGS.—Profits
for
Profit and loss surplus Dec. 31
ended Dec. 31 1919 were $465,6801919 amounted to $613,268.
year
OFFICERS.—Wm. Gray, Pres;
8. Preston Moses, V.-P.;
B. J. Moses,
Dodge, Chairman.
GREAT ATLANTIC & PACIFIC TEA CO.—ORGANIZATION.—
Established in 1858.
Incorp. Mar. 4 1901 in New Jersey.
In Apr. 1920
operated about 4,353 tea and grocery stores.
the recapitulation
STOCK.—Under
plan the company authorized (a)
$12,500,000 7% cum. pref., $8,075,000 outstanding, the balance,
500, being reserved for the conversion of notes (see below); (6) also
shares of common stock of no par value.
V. 103, p. 1795.
Divs. on pref. stock Dec. 1 1916 to Mar. 1920 , 7% year (1^%
under laws of Mary¬
be a substantial
NOTES.—Of the $5,000,000 6% notes,
stock, on or prior to June 1 1919, $1,050,000
p.
corporation will, under leaseholds,
holder of oil lands in the new Caribbean oil fields.
The leases are from 40
to 50 years and cover 130.000 acres in the departments of Magdalena and
Bolivar.
Royalties on the leases range from 5% to 12% on the gross
product.
Properties controlled are; The Nato property, comprising 91,000 acres
situated in the Department of Magdalena, near the town of Ocano, Colom¬
bia; the Las Lajas property, comprising 17,500 acres, about 25 miles north¬
east of the city of Cartagena; the Canalete property, comprising 12,500
acres; the Lopez property, comprising about 4.500 acres; the Jobo property,
comprising 5,500 acres, purchased directly from the Colombia Govern¬
ment.
(See map on opposite page.)
$2,722,600,
$4,424,250,000
Q.-M.)
CHICAGO.—(V. 110, p. 1294, 1530.)
1895.)
GRANADA OIL CORP.—(See map)—Organized
outstanding,
outstanding) was called for pay¬
_
GRACE STEAMSHIP CO.—(V. 109, p.
land
and
DIVIDENDS.—On common stock as follows;
Sec.. Treas. & Clerk; H. C.
GOODYEAR TIRE & RUBBER CO. OF CALIF. & ORE.—Incorp.
in California July 10 1919.
In Sept. 1919 was building at Los Angeles a
auth.
at 1,15 on
1913, 30%; Mar. 24 1916,
Manton
Office, 52 Broadway.—
1854. 2197.)
on
Frank A. Seiberling; V.-Ps., O. W. 8eiber-
ling, G. M. Stadelman, P. W. Litchfield. Frank H. Adams, H. B.
and James P. Loomis.
The Secretary is A. F. Osterloh; Treas.
Sec., W. E. Palmer.—(V. 110, p. 875.)
™
,
(V. 110. p. 875, 1530, 1646, 1752,
provision for future
1613.
reducing same to $1,124,-
x Deficit, $2,296,946, charged against surplus,
as of June 30 1919.
Pres., W. H. Nichols; Sec., Edward Everett.
409
Oct. 31
^
convertible, at par into pref *
have been redeemed.
V. 104
1706; V. 102, p. 2257.
ending Feb. 28 1920: Sales, $194,646,960; total
depreciation, $757,327; Fed. taxes, $914,594; divs/
REPORT.—For year
earnings, $7,475,254;
$693,715; sinking fund reserve. $55,969; surplus, $5,053,649.
sales amounted to $151,891,919; in 1917-18. $126,004,958;
$75,558,737.
i
OFFICERS,—Pres., John A. Hartford;
Geo. L. Hartford; Sec., Edw. V.
V. 108, p. 1393; V. 110, p. 265.)
Treas..
GREAT LAKES
p.
1277, 2443.
In 1918-19,
in 1916-17.
V.-P,, Archer G. Hoffman;
Hartford.—(V. 106, p. 2013,
STEAMSHIP CO.—See V. 105, p. 502, 1901; V. 109,.
*
MAP
Part
REPUBLIC
OF
of tlae
OF
COLOMBIA
'■
GRANADA
OIL
CORPORATION
NORTH
A.
M ERIC
1919
o*;Ilarr:i;i^uilla
1
"pan0"111
ffkl
'Turk.
i^flf
San Francisco
—Granada
0/7 Co.
17,500 Acres
Cartagena,
"^fCaiamar
|
^tartageu;!
DISTANCES
Colon
^~C V \
Panama
NauttcaC .ATj'/f s
ansnp
^
Cartagena to fie w York
|5$ .Granada R\^\
(Sf OUCo.
\
W^4,500 Acred{■
|\ss=*k^
jk. Granada
Oil Co.
Oil Co.
5,500 Acres
'
~7
I
Gaiu est on to New
Vk!
j
[ 12,500 Acr.es
vGranada/
7" I
\)
1833 mi/es
to New York
2025 miles
Tamp!co
I//
York
1893 miles
\1
))J
Jv
Cartagena to San Francisco
3592 mi/es
Tampico to San Franctsvp
If
rfF
r—<( y
J Granada
>7^ 0/7Co.—
( 9ji, 000 A cresXj
4812 miles
Cartagena to Liverpool
4489 miles
Tampico to Liverpool
•Ocnno
4865 miles
Cartagena
to Colon
266 miles
Tampico to Colon
1486 mi/es
OTHER
•
COMPANIES
Bucaruiuanffa
GULF OIL CORPORATION
Barrio
'
WEST INDIA PIPE LINE CO.
Puerto
(STANDARD)
CARTER OIL CO.
(STANDARD)
CARIB SYNDICATE
•
Madellin
ROYAL DUTCH SHELL CO.
TROPICAL OIL CO.
SINCLAIR OIL AND R.
CO.
OHIO CITIES GAS CO.
ISLAND OIL and TRANSPORT
THE CITIES SERVICE CO,
CO.
(DOHERTY)
GUFFY GELLISPIE INTERESTS
ODEL
BRADFORD
INTERESTS
ATLANTIC OIL CO.
BOONE OIL COMPANY
TRANSCONTINENTAL OIL CO.
JENKS BRITISH CO.
Bogota
BRITISH CONTROLLED OIL SYN.
A. B.
LEACH & CO.
COMPAN1A PETROTIFICA DE COL.
MAGDELENA
COLON
RIVER and COAST OIL CO.
DEVELOPMENT CO.
(VENEZUELA)
Date
first page]
Value
$2,500.000
$2.500.000—
Great Northern Iron Ore Prop —Trustcerts t '500.000 sharps
Qrt Western Pow Co of Cal—Com stock auth $30,000,000
Preferred (a 6c d) stock 7% cum $30,000,000 call 1051st Ref M $150,000,000 series "A" call
——-Bxxxc*
Underlying Bonds on Properties Absorbed by Merger—
lstM$25,000.000 (call
!
loo
100
100, &c
20,760,000
1,584.000
1915
1.000
1,000
1.000
1,000
100, &c
100. &c
4,440,900
5 g
6 g
1908
1,000
966,000
5 g
M
100
2,500,000
1907
1909
1908
1915
1919
1,000
100
100
100
1913
1,000
1026: V. 100. p. 1441.
*09. *10. '11. *17. '18-Mar'20
f *03.'04.'05.'06.'07.'08.
(%)...{ 0
0
0
0
(%)'
1 0077,
GREAT NORTHERN IRON ORE PROPERTIES.—In July 1917
M. A. Hanna 6c Co. of Cleveland, O., took over under lease substantially
the Mesaba range not theretofore
leased, leaving tree only about 15% of the original holdings.
See V. 105,
p. 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
to the number of shares of stock held were Issued Dec. 1906 to Great North¬
ern
Ry. stockholders.
Properties, &c., V. 104, p. 2346: Y. 103. p. 58;
V. 94. p. 556; V. 99, p. 1751; V. 104. p. 955; V. 109, p. 69. 1277.
'10. '11. '12. *13. *14. '15.
'16. *17. '18. '19.Apr'20
$1 $1.50 50c. 50c. 50c. 50c. S1.23S1.50 $4 $4
$2
and June. $1 each; Dec., $2; 1919,, April, $2.
REPORT for year ending Dec. 31 1918 in V. 107, p. 69.
N. Y. office.
32 Nassau St.—(V. 107. p. 85, 287; V. 108, p. 1063; V. 109. p. 69; V. 110,
LATE DIVS.—
share
Per
In 1918, March
1191.)
GREAT WESTERN POWER CO. OF CALIFORNIA.—ORGANIZA¬
TION.—Incorp. in California Nov. 23 1917, and, as of June 1 1919, purch¬
ased, 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 Co. properties were not included In
the purchase, but the leases thereof were assumed and the Great Western
Power Co. of California is now the operating company of all system proper¬
ties.
In Oct. 1919 (a) owned on a tributary of the Sacramento
Oroville and 160 miles from Oakland, hydro¬
capacity of 87,000 h. p.
V. 108, p. 2127;
V. 109, p. 1363.
(2) steam driven electric plant in San Francisco with ca¬
pacity or about 36,000 h. p. (including former City Electric Co.); (3) holds
ander lease and stock control a similar 14.000 h. p. plant of California Elec¬
tric Generating Co. in Oakland, transmitting electricity to Oakland over
two circuits to substations at Sacramento, Brighton, Antioch, Cowell and
Oakland.
Rate Increase in 1918, V. 106, p. 185.
,
In 1919 had begun construction of an additional hydro-electric plant
initial capacity 53,000 h. p., known as the Caribou plant, and a steel tower
transmission fine thence to San Francisco Bay district, 192 miles.
See
The company
River about 18 miles from
electric plants with a present
stock of the California Electric
plant, capacity 12,000 k. w. (see
below)
Caribou plant is completed early in 1921, the com¬
When the 40,000 k. w.
will have a generating capacity of 105,000 k. w. of hydro-electric
power, which together with the 34,500 k. w. from steam plants, will give a
total capacity of 139,500 k. w.
When all the power sites are utilized, over
500,000 k. w. will be developed.
STOCK OF GREAT WESTERN POWER CO. OF CALIF.—Auth.,
com., $30,000,000: 7% cum. pref. (p. 6c d.) .$30,000,000.
Outstanding
Dec. 31 1919, com., $27,500,000. all owned by Western Power Corporation;
preferred, $1,338,526.
The pref. stock into which the debentures are convertible, as
below,
stated, is non-aasessable by specific covenant, is preferred as to assets in
liquidation, is entitled to cumulative dividends at rate of 7% per annum,
pany
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
Power Co. of Calif.—The $5,000,000 6% con¬
convertible from Nov. 1 1917 to Nov. 1 1920 inci.
Co. of California 7% cum. pref.
stock (par value $100) at $95 per share and divs.; in Dec 1919 had thus been
reduced to $4,440,900.
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),
(1)
Great Western
vertible debentures are
at 100 and int.
will
into Great Western Power
provide in part at least for the
Feather
River at Caribou.
construction of a new power plant on the
It will also furnish sufficient money for the
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; Y. 109, p. 1703.
(2) Underlying Bonds (Bonds of Properties Merged in Parent Company).
Great Western Power Co. 1st M. 5s of 1906 authorized $25,000,000, all
authenticated and on Dec. 3l 1919 located as follows: $21,411,000 held by
public (including $651,000 pledged under Calif. Electric Generating Co.
mtge. not bearing interest); $889,000 retired through sinking fund (annually
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. 1703.
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.
construction of
a
new power
Leased and
Controlled Property.
California Electric Generating Co.—Leased to
Gross earnings
Surplus after deducting all charges,
incl. Fed. taxes and depreciation
Preferred dividend
Balance,
surplus
;
J
1919.
$5,393,599
of 1919.
1918.
$4,644,407
do
do
York
majority.
N Y Bost Chic & San Fr
New
York,
London,
&ts
&
&
1946
W P Bonbr&Co.NY & SP
July 1 1937
N Y Bankers Tr 6c SanFr
New York and San Fr
New York and San Fran
1948
S Sept 1
Q—J
6
text
Q—F
Oct 1 1919, IX New York
Feb 24. *19 IX New York
June 1 1920 B
2,000,000
Oct 1 '19 IX
Q—J
35,284,600 6 in 1919
J
&
J July 1 '21 to 123
6 g
18,000,000
text
Apr 1 1919 1%
Q—J
11,136,555 See
See txet
7
Q—J
2.000,000
6
Apr 1 1920 IX
Q—J
85,700
J
&
J Jan 2 1943
6
201,000
OFFICERS.—M.
Fleishhacker,
V. 108,
1917.
$4,008,553
905,316
146,197
875,786
705,775
$759,119
$875,786
$705,775
Pres.,
Pittsburgh by check
N Y Guar Tr; Pitts UnTr
Guar Tr. N Y, by check
do
do
Blrm'ham Tr 6c Savs Co
Francisco; H.
San
P. Wilson,
V.-P. & Sec., New York; Treas. & Asst. Sec., F. M. Tompkins, N. Y.
Offices, 50 Broad St., N. Y., and 14 Sansome St., San Francisco.—(V. 110,
1092.)
p.
GREEN
STAR
STEAMSHIP
CORPORATION.—V.
1703,
109, p.
2268; V. 110, p. 81,-365.
GREENE CANANEA COPPER CO.—ORGANIZATION.—Incorp. to
Minn. Dec. 26 1906 and acquired nearly all of the 1,000,000 shares of the
capital stock of Greene Consolidated Copper Oo. (W. Va.), which In turn
owned all the shares of the Cananea Consolidated Copper Oo. 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—
/1912. 1913. 1914. 1916. 1917.
Per cent
( 3X
A dividend of $1 50 was paid
2X
7
2
Feb. 24 1919;
none
1919.
1918.
8
8
text
since to May 1920.
REPORT.—For year end. Dec. 31 1917, V. 106, p. 2558, showed: Total
$9,392,639; net income, $284,344; deprec'n, $350,455; dividends
(8%), $3,954,215; def. for year, $1,456,327.
Total surplus Dec. 31 1917,
$8,048,652,
Output for—
Copper (lbs.)
Silver (ozs.)
Gold(ozs.)
April 1920
4,000,000
157,400
940
April 1919
3,000,000
131,433
730
4 months 1920
14,100.000
562,860
3,065
4 months 1919
-.12,200,000
466,353
2,850
Pres. is W. D. Thornton, N. Y.—(V. 110, p. 265. 365, 875, 1092, 1530,
Income.
-
2080.)
GRIFFIN
WHEEL CO.—See American Steel
Foundries Co.
GUANTANAMO SUGAR CO.—Report V. 109. p.
2268, 2354.
GUFFEY-GILLESP1E OIL CO.—ORGANIZATION.—Incorporated
Delaware Sept. 1918.
Successor to the business conducted by Messrs.
Guffey and Gillespie of Pittsburgh.
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 to West Virginia, recently acquired) on about 200,000 acres of oil
in
gas properties.
Presdent daily production over 3,000 barrels.
No.
producing wells, 90.
the Billings Gasoline Co., operating a casinghead gasoline plant at Billings. Okla., dally capacity 2,000.000 cu. ft. of gas.
Acquisition of interest in 1,250,000 acres of land in Columbia, S. A..
V. 110, p. 768, 171.
and
of
Owns 75% of the stock of
STOCK.—The Pref. stock is convertible in
share of Pref. to four shares of Common.
Common stock at the rate of
Has equal voting power with
The authorized Common stock was increased in July
1919 from 300,000 shares (no par value) to 500,000 shares (no par value).
one
the Common stock.
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. 108, p. 174; V. 109, p. 275.
Both classes of stock listed on Pittsburgh
Stock Exchange in Nov. 1919.(V. 109, p. 1895.)
EARNINGS.—Gross income period Sept.
1 1918 to May 31 1919, in¬
cluding oil sales $1,808,539, gas. Interest received, &c., aggregated $1,853.593; deduct dividends, $70,000; balance surplus after general, &c., expenses,
$812,789.
V. 109, p. 1895.
DIRECTORS.—Joseph F. Guffey (Pres.), E. N.
J. D. Gallery. H. M.
Gillespie (V.-Pres.),
Brackenridge, Pittsburgh, Pa.; E. H. Mather, Boston
Pitttburgh.—(V. 110, p. 171, 768.)
and H. K. Bragdon (Treas.),
GULF
OIL
CORPORATION.—ORGANIZATION.—Organized In
1907 and through its subsidiary conducts an active business In producing,
refining, transporting and distrbutlng 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 daily capacity of 60,000
bbls. 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."
Its produc¬
tion of oil from its own wells in the United States in June was over 50,000
bbls. per day, and has not been under that amount in the past two years.
V. 108, p. 2634; V. 109, p. 682.
Jt
STOCK.—Auth..
$60,000,000;
outstanding, $35,284,600. Including
$22,416,400 issued in 1913 at par and to the extent of 50% paid for option¬
ally with proceeds of 100% cash dividend.
DIVIDENDS.—Regular rate 5% p. a. in July and Oct. 1913; thereafter
6% per annum to and including Oct 1 1919.
NOTES.—The issue of $18,000,000 6% gold notes sold in 1919 will
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 1919, $175,000,
,
REPORT for 1919 In
V..110.P.
Gross earnings
-
Net earnings..
Depreciation reserve
Interest, taxes, &c
$97,431,516 $85,904,306 $70,499,403
49,779,314
36,124.992
lb'§77,064
6,865,331
41,013,567
29,485,836
1,111,640
--------
--------
5,000,000
2,104,513
2,082,104
2,074,320
$9,356,340 $10,500,493
$9,576,426
Reserve for war taxes
annum)
surplus
(V. 109, p. 682; V.
,
875:^
62,130,188
35,301,328
19,305,251
4,535,223
Operating expenses
Great Western Power Co..
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 Oo. (V. 88. p. 688; V. 89. p. 472). $1,200,000
at which $227,000 retired through sinking fund and $7,000 held by G. W.
City Electric Co. of San Francisco.—First mtge. 5% bonds, interest guar.
(V. 92. p. 883), $4,387,000 issued, $237,000 retired by sinking fund, while
in Dec. 1919 $4,150,000 were outstanding, Including $1,584,000 held by
public, and $2,561,000 "bledged Under 1st & Ref. Mtge."
p. 2127; V. 93. p. 668; V. 96, p. 1843; V. 100, p. 1440.
Checks mailed
32 Nassau St, New
5g
Dividends (6% per
which
REPORT.—For cal. year 1919:
Calendar Years—
&
M
6
50.000.000 See
100
100
100
CO.—ORGANIZATION.—Incorporated In
V. 109, p. 1364. 1703; V. 108. p. 2127.
(3) Also owns the $5,000,000 common
Generating Co. at Oakland, a steam power
85,000
1.602,200
J July 1
J
5 g
5
&
ahd
None 420,000shis
all the active controlled properties on
p.
68,000
None
2
—
—
2
0
—
5(lMqu.)
Pref
777
7
7 7y'rly (6-.0
Pres., H. E. Gilpin; Sec. & Treas., M. H. Ward well.
New directors
Feb. 1917, V. 104, p. 667.
Office, Cleveland, O.—(V. 106, p. 503, 932.)
Com
J
Where Interest
Dividends are Payable
N May 11939
A& O 15 Apr 15 1933
J
&
D June 1 1955
MAN Nov 11925
.xxx
N. J. on July 61899 as a consolidation. See V. 69. p. 79. 593; Y. 72, p. 778.
The company has amended its practice so as to conform to the Anti-Trust.
L*w as ordered by the Federal Court.
V.99, p. 123; V. 98. p. 1922; V. 100.
645; V. 96. p. 492: V. 97, p. 301.
Maturity
1906
Co gen mtge gold sink fund——
$2,500,000 guar see text ... z
Convertible debentures call 101 6c int $5,000,000 g-Ea.xxxc
Held under Stock Control and Lease—
Cal Eleo Gen Co 1st M $1,500,000 gu p A 1 oall l05 -xxx
do
do
1st Mtge Series "B" $3,500,000
Pref stk $2,500,000 6% cum aft 1911 (call 1913 106; guar
Greene Cananea Copper Co—Capital stock $60,000,000-.
Guffey Gillespie Oil—-Common stock 500,000 shares—_—
Pref (a & d) 7% Cum Conv stock call 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
Gulf States Steel Co—Common stock v t c (V 107,p 2101)
1st pref stock 7 % cum v t c call begin 1918 at 110
2d pref stock 6% non-cum v t c convert Into common——
Self Fluxing Ore 6c Iron Co 1st M call 101 (V 101, p 777,)—
DIVS.—
Places
Dividend
and
1919
Oonsol Elec Co Gen M sk fd
p.
Last
Payable
$1,675,000 5 In 1919 Q—M30 Mar 30'20 IX
Apr 1 1920 IX
Q—J
1.952,850 7 in 1919
text Apr 15 '20,
text See
$2
27.500,000 Western Power O orp owns large
Oct 1 '19 1 X%
7
Q—J
1.338,526
M—S
Mar 1 1949
6 g
6.000,000
100
Consumers Light & Power
GREAT LAKES TOWINO
When
%
None 1 500.000sh See
106)-Ba.xxxc*
City Eleo Co San Fran 1st M (call 105) $5,000,000 guar
Central Okla Lt 6c Power Co 1st mtge gold s f——
Rate
...
$100
Great Lakes Towing—Common stock
Preferred (a & d) 7% non-cumulative
Amount
Outstanding
Par
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, Ac., see notes on
Great West Pow Co
179
INDUSTRIAL STOCKS AND BONDS
Mat, 1920.]
Balance,
110, p. 875. 967.)
GULF STATES STEEL CO.—ORGANIZATION.—Incorp. In Dela¬
ware Nov. 1 1913 as successor of Southern Iron 6c Steel Ob. (foreclosed),
per
plan in V. 97, p.
1119.
Owns blast furnaces, open-hearth
steel plant,
mill, merchant mill, wire mills, machine shop, &c., at
and also coal mines at Altoona, Sayre and Virginia,
Ala., and iron ore mines at Shannon, Ala.
Its products are barbed wire,
galvanized wire, bar steel, billets, rods and wlro 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; to treasury Dec. 1919, $1,000,000;
outstanding. $2,000,000.
There was formerly $4,000,000 2d pref. stock;
but to Dec. 1919 all except $85,700 had been converted into common, share
for share.
V. 108. p. 1270.
Common stock auth.. $12,500,000; outstand¬
ing to Dec. 1919, $11,136,550, including $2,222,250 issued June 3 1918 as a
25% stock dividend.
V. 107, p. 2101.
V. 106. p. 2232, 2013, 1799.
blooming mill, rod
Alabama City, Ala.,
[VOL. 110.
INDUSTRIAL STOCKS AND BONDS
180
Date
Par
Value
Outstanding
$25
Hackensack Water Co—Common stock auth $6,000,000-7% preferred cum red text auth $4,000,000
-
25
25
6% preferred convertible text auth 1500,000
1,000
1902
Firstjmortgage bonds auth $6,000,000 callable 105
Harbison*Walker Refractories Co—Common stock—
Preferred stock 6% cumulative
Hart, Schaffner & Marx—Common stock $15,000.000
Preferred (a 8c d) stock 7% cumulative $5.000,000--
100
100
100
100
100
askell 8c Barker Car Co—Stock 250.000 shrs
Bart man Corporation—Capital stock $12,000,000
None
—
Havana Tobacco Co—Bonds $10,000,000 gold
1902
x
1,000
100
Helme (Oeo W) Co—Common stock.
Preferred stock (a & d) $4,000,000 7% non-oum—
Hendee Manufacturing Co—Com stock $10,000.000
Pref (a & d) cumul convert call $2,500,000
100
100
100
100
-
—
—
Hercules Powder Co—Common stock auth $10,000,800
Pref stock 7% cum $10,000,000 red 120 Nov 15 beg 1915-
The voting trust agreement of Dec. 1 1913
extended till Dec. 1 1921 (subject to earlier
100
expired Dec. 1 1918, but was
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 had.
Voting trustees.
Alexander J. Hemphill, Alfred A. Cook and John W. Platten, and the
depositary, the Guaranty Trust Co. of New York.
V. 107, p. 2101, 2298.
Dividends.—After paying first pref. accums. (15 1-6%), Oct. 1916
1913-15.
'16.
'17.
'18.
1919.
1920.
First
preferred (%)
Second preferred (%)
-—See above
Common (%)
7
7
7
4H
6
8
—-
6
10
7
See
6
Apr., 1 %
text
Payable
Text
$5,125,000
2,000,000
375,000
4,750,000
&
D
See text
&
D
Places Where Interest and
Dividends are Payable
Last Dividend
and Maturity
See text
When
Bate
%
Amount
Bonds
MISCELLANEOUS COMPANIES
IFor abbreviations, Ac., see notes on first pageI
£
"Text
See text
&
D
pi
&
J July 1 1952
New York Trust Co,N T
4 g
J
See text
19 Q—M 15
18,000,000 12 in
6
July 20 *20 1H
9.600.000
Q—J
15,000.000
3.314.000
12,000.000
220.000shrs
7.500,000
4,000,000
4.000,000
10,000,000
4 in 1919
7 in 1919
See
text
Q—M
Q—J
Q-—M
Q—J
1919
$4
9
5 g
' 19
10 in
7
7
1,000,000
$1
July 1 1920
Guaranty Trust Co, N Y
D June 11922
&
Q—J
O—J
Q—J
7,150,000 See text
7
5*350.000
Feb
28 *20 1%
June30'20 IX% Checks mailed
June 11920 1X Chicago, II
Al* 1-'20 2H%
Apr 1 1920
ft
Checks mailed
1920 1X
Apr 1
Q—M
Cheeks mailed
4% Checks mailed
do
IX
Mar 25 *20
*20
May5
REPORT.—Combined results year 1919, in V. 110, p. 657:
Cal. Year— Net Inc.
Interest. Depr., Ac.
Dividends.
Surplus.
1919-.$2,328,292
$41,068
(5%) $600,000
$1,687,224
1918
816,989
21,656
(5%) 600.000
195,333
1917
(ZX) 450,000
59,316
509,310
1916-——. 2,014.407
24.374
$188,000
—
—
1,802.033
—
OFFICERS.—Pres.. Max Straus; V.-Pres., Milton L. Hartman; Sec. &
Treas,, E. G. Felsenthal; Asst. Sec. & Treas., Harry A. Cohen.
Office,
3913 Wentworth Ave., Chicago.—(V. 110, p. 365, 565, 657, 1977, 2080.)
HASKELL & BARKER CAR CO., N. Y.—ORGANIZATION.—In¬
corporated in N. Y. Jan. 12 1916 with 250,000 shares of authorized capital
(extra)----—
1 i^&l .R.0.25stk
—
April 1919 a quarterly common dividend of 1% was paid; none since.
V. 108, p. 883. 2333.
Dividends on 1st Pref. stock declared in full to
and including Jan. 2 1921.
On 2d pref. declared in full to April 1 1920.
V. 110, p. 875.
REPORT.—Report for calendar year 1919, in V. 110, p. 1185, showed:
Cal.
Gross
Net after
1st Pref. 2d Pref.
Common
Balance,
stock, 220.000 outstanding (no par value), to succeed the Haskell 8c Barker
Oar Co. of Michigan City. Ind., organized 1852.
Plants at Michigan City,
Ind., have capacity of between 15,000 and 20,000 cars, both wood and steel.
Sales.
Depr., Ac.
Div.
Div.
Dividend.
Sur. or Def.
$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
874,188 sur. 1,792,748
1916..
7,626,250 2,452,511
140.000 207,068
141,660 sur. 11963,783
*
After deducting reserve for Federal taxes, depreciation, Ac.
y Also
paid a 25% dividend ($2,222,250) in common stock.
Pres., James Bowron: V.-P. & Treas., A. R. Forsyth; Sec.. W. H. Moore.
Office, Brown-Marx BIdg., Birmingham, Ala.—(V. 110, p. 1092, 1185.)
1918 to July 1920 (quar.). $1 each.
Common
—
Years.
1919..
HACKENSACK
WATER
CO.—ORGANIZATION.—Incorp.
under
cities and towns
laws of New Jersey in 1869.
Supplies water to a number of
in Hudson and Bergen counties, New Jersey.
CAPITAL STOCK AND BONDS.—See table at head of page.
The
7% pref. stock is cumulative and participating.
Redeemable at 110 after
The 6% pref. stock is exchangeable, share for
share, for 7% pref. stock.
3 years from date of issue.
DIVIDENDS.—Dividends
paid
on
at the rate
of 7%
(3X% s.-a:) are being
both classes of stock.
EARNINGS.—For 9 months ended Sept. 30 1919: Total Income, $1,170,"
126; net income, $241,168; pref. div. (3&%), $11,250; com. div. (3H%)*
$181,250; surplus, $48,668.
Pres., Robert W. de Forest; V.-P., Myles Tierney; Sec. & Treas., Earle
Talbot.—(V. 109, p. 1529, 1703; V. 110, p. 171, 875.)
HALE & KILBURN CO.—Reorganization plan, V. 105, p. 2276, 2270,
2369, 2459; V. 107, p. 177, 908, 1270; V. 108, p. 883, 1168.
Offering of
1st Mtge. 6s dated June 1 1919, in V. 108, p. 2333
2527.)
.
Stock, all of
in June
one
1917.
class (no bonds), was listed on N. Y. Stock Exchange
^
1
,
DIVIDENDS.—Jan.
1917 to April 1918
(quar.), 75 cents each; July
REPORT.—For year ending Jan. 31 1920, in V. 110, p. 1418, shows:
Jan. 31 Years—
1919-20.
1918-19.
1917-18.
1916-17.
Gross earnings
$3,743,131
$4,409,210
$2,634,192
$1,135,367
Rep.,
renew., amort.,
Res. for renew., repl.,
Dividends
&c615,478
472,294
&c_
300,000
350,000
($4)880,000 ($3^)825,000
293,333
300,000
($3)660,000
305,749
135,000
$2,761,916
$1,380,859
$529,618
Balance, surplus......$1,947,653
165,000
OFFICERS.—E. F. Carry. Pres.; Chas. A. Liddle, V.-Pres.; H.
Harding, V.-Pres.; P. O. Curtis, Sec.; David A. Crawford, Treas.
e.
DIRECTORS.—E. F. Carry, Arthur O. Choatd, Wm. E. Cory. David A.
Crawford. Jos. W. Harriman, Geo. E. Marcy, Ambrose Monell, John R.
Morron, Frank A. Vanderlip and Thos. C. Curtis, Jr.—(V. 110, p. 1418,
1646.)
■
•
■
.
.
.
,
HAVANA TOBACCO CO.—ORGANIZATION.—Incorporated In New
Jersey on May 28 1902 as amalgamation, per plan in V. 74, p. 1142.
The
Amer. Cigar Co., It is understood, owns
a majority interest In the com¬
mon stock and $3,696,000 of $7,500,000 bonds.
V. 85, p. 287.
Stock, com., $30,000,000: bref. 5% non-cum.. $5,000,000: outstanding,
com., $29,790,941; pref., $4,703,800; par of shares, $100.
On Dec. 31 1918
there was $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 1919 shows: Divs. received, $534,195; expenses, $424,637;
int. on bonds, $375,000; bal., def., $265,442.
Treas., George G. Finch.
Office, 111 Fifth Ave., N. Y.—(V. 110, p. 1530.)
,
HARBISON-WALKER REPRACTORIES CO.—ORGANIZATION.
—Incorporated June 30 1902 in Pa.
Manufactures fire-clay products, <fco.
Has 34 plants, embracing 400 kilns, employing 6.500 bands; total dally
capacity 1,500.000 brick.
Plants are located 25 In Pa.. 6 in Ohio and one
each la Ky.. Ind. and Ala.
STOCK.—Authorized and Issued $9,600,000 6% cumulative pref. and
$18,000,000 common stock, oar each $100
No bonded or funded debt
The company has declared a stock dividend of 50%, payable in common
stock July 15 to holders of record July 5.
This dividend is payable, subject
to authorization by stockholders at a meeting to be held June 23 of an
increase in common stock from $18,000,000 to $27,000,000.
[ '07. 1908-09. 1910-14. *15. '16. *17. '18.
None
2% yrly 2X 5X
6
6
I
4
18
6
'~\X%
Extra
'19.
1920.
6
IX
6
See text
REPORT.—For year ended Dec. 31 1919, in V. 110, p. 1287, shows:
Net
Net
Pf. Divs.
Common
Balance.
Earnings.
Profits.
Dividends.
(6%)
Surplus.
1919, year—$3,981,122 $3,114,477 $576,000(12%)$2.160,000
$378,477
1918,15 mos. 7,207,722 5,504,957
720,000(13^) 2.430,000 2,354,957
1916-17 year 8,865,386
6,725,817
576,000 (8%) 1,440,000
4,709,817
1915-16
do
4.305,450
3.540,604
576,000 (7%) 1,260.000
1.704.604
^i801917 paid a further 18% ($3,240,000) out/Of surplus prior to March 1
1913.
Total surplus Dec, 31 1919, $12,750,509.
-
OFFICERS.—H. W. Croft, Pres.jJ. E. Lewis. O. M. Reif and Hamil¬
ton Stewart, Vice-Presidents; Wm. walker. Treas.. and P. R. Hilleman,
Sec.
Office, Pittsburgh, Pa.—(V. 110, p. 1287, 1752.)
HART .SCHAFFNER & MARX. INC.—ORGAN.—Inoorp. In N. Y.
May 111911, suooecdlng firm manufacturing men's olothlng. V. 92, p. 1376.
STOCK.—Common stock. $15,000,000; par, $100; pref., see table.
Pref.
is redeemable In whole or part at 120 and accrued dividends, at least $500.000 to be retired on or before July 11921 and $500,000 during 5-year periods
thereafter.
No
without the consent of 75% of the pref. stock.
V. 92, p. 1376, 1439,1639.
Pref. stock originally issued, $5,000,000; had
been reduced to Dec. 1919 to amount shown in table ($3,314,000) by the
sinking fund. V. 108. p. 475.
mtge.
DIVIDENDS.—On pref. in full to June 30 1920 Incl.. 7% (1X% quar.).
Common div. Mar. 1 1916to Feb. 28 1920,1 % quar. (4% perannum).
p.*559:
REPORT.—For year ending Nov. 30 1919, in V. 110,
1918-19.
1917-18.
1916-17.
Total
profits
$2,200,218
Preferred dividends (7%)
232,689
Common dividends (4%)
600,000
Redemp. pref. stock, &c.
317,620
1915-16.
$1,481,015
234,617
600,000
367,111
*$1,603,762
240,843
600,000
198,509
$1,792,002
260,539
600,000
368,893
Balance, surplus
$1,049,909
$279,287
♦After deducting $270,000 Federal income and
$564,411
$562,571
_
OFFICERS.—Pres..
Sec. & Treas., W. M.
„
HARTMAN
H. Hart; V.-Ps.,
Cresap.—(V. 110,
excess
profits taxes.
Max Hart and
p.
Alex M.
Levy;
265, 559, 1752.)
CORPORATION.—ORGANIZATION.—Incorporated In
Va. in Jan. 1916 and acquired the capital stock of the Hartman Furniture
Ac Carpet Co. of Chicago and affiliated oompanles.
V. 103, p. 2337.
Con¬
ducts a mall order and retail business in the Middle West.
Capital stock.
$12,000,000 (all one class).
to Dec. 31 1919, 5% per
V. 103,p. 2337,148.
annum
Dividends: Sept. 3 1917
(1X% Q.-M.); March and June 1920,
1M% quar.
The directors In Aug. 1919 recommended to stockholders that the
par
value of the capital stock be changed from $100 to
$20, stockholders to
receive 5 shares of new for each share of old.
V. 109. p. 582.
No funded debt other than the
(unassumed) $140,000 1st M. R. B. serial
gold 5 Hs of Hartman Furniture Jc Carpet Co., due on or before July 11920.
(OEO.
CO.—Note offering V. 109, p. 1464.
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.
No prior lien without the consent of two-thirds of each class of stock.
>
w.)
Dividends.—ri3.
On common--—.%{
ovfra
In
Tftniia.?*v
'14.
earnings...
*i«. *17.
'is.
10
10
10
I
O
REPORT.—Report for cal.
Net
DIVIDENDS.—On preferred, 1902 in full to July 1920. 6%.
On Commonr—
Regular
HAYNES AUTOMOBILE
H. C. S. MOTOR CAR CO.—V. 109, p. 1896.
10
year
1919
10
A.
O
*18.
10
A.
'is.
1920.
10 2X, 2X.
A
-
A
1919, in V. 110, p. 1085, showed:
..*$1,254,967
Preferred dividends (7%)
280,000
Common dividends
(14)560,000
1918
1917
$1,074,702
280,000
(10)400,000
$917,971
280,000
(14)560,000
1916
$1,078,503
280,000
(14)560,000
Balance, surplus.....
$414,967
$394,702
$77,971
$238,503
Pres., Otis Smith; Sec. & Treas., E. D. Christman.
Office, 111 Fifth
Ave.—(V. 109, p. 2175; V. 110, p. 1085.)
HENDEE
MANUFACTURING
CO.—ORGANIZATION.—Incorp.
Oct. 4 1913 in Massachusetts, successor to company of same name.
Manu¬
factures the "Indian Motorcycle".
Plant at Springfield, Mass. Branches
at London and
Chicago, III.
CAPITALIZATION.—Pref.
for share.
stock
is
convertible
into
Common share
Callable
as a whole only at 125 and for sinking fund at 110.
No
mortgage without consent of 75% of outstanding Pref. stock.
Both
classes have equal voting power.
Since Aug. 31 1919, $510,000 pref. stock
has been retired
leaving $1,000,000.
The difference between the original
authorized, $2,500,000, and the $1,000,000 now outstanding, was
Fund, as provided in the Articles of
Organization.
Quarterly divs. of 1X % have been paid on the Pref. stock
since Jan. 1 1914 to Apr. 1 1920. incl.
amount
retired under the terms of the Sinking
REPORT.—For fiscal year 1918-19 in V. 109, p. 1889.
Years Ending Aug. 31—
1918-19.
1917-18. 1916-17.
1915-16.
Net profits—
$208,980
$1,454,717 $740,691 $539,755
Bal. after Pref. divs. & taxes..
235,699 def.100.729
914,718
484,391
Pres., Henry H. Skinner; Treas. 8c Clerk, Frank J. Weschler.
Office.
Springfield. Mass.—(V. 110,
p.
265, 470.)
HERCULES POWDER CO.—ORGANIZATION.—Incorp. In Dela¬
ware Oct. 18 1912. and took over,as of Jan. 1913. per plan of disintegra¬
tion, part of the properties of the e. I. da Pont de Nemours Powder Co.
(v. 94. p. 1386.1629.1698; v. 95. p. 969).
Half of the stock received by
tb s27 defendants in the dissolution suit is without voting power.
Common Dividends—
*14. '15. 1916. *17. 18.
*19.
1920.
8
Regular (%)—
8
8
8
14
Extra, cash (%)
0
8
39H
do
Red Cross (%)
1
Anglo-French bonds, total (%)„«.
47X 47
do price at which taken94
95
I \ I.:::::
__
—
__
LATEST EARNINGS.—3 months ended March 31:
Gross.
Net.
Pref. div.
1920
—
1919
$4,786,630
6,674,785
REPORT.—Year 1919,
$632,023
302,881
$93,625
93,625
Bal.
$538,398
209,256
V. 110, p. 763:
Gross
Net (all
Pref
Com.
Receipts.
Sources.)
Divs.
Divs.
Surplus.
1919——$20,539,737
$1,579,795
$374,500
$61,295
(16)11.144,000
1918
45,556.052
2,315,603
374,500
725,603
(17) 1.215.500
1917
44,105.533
5,822,462
374,500
442,962
(70) 5,005,000
1916
63,419.030
16,658,873
374,500
(95) 6,792,500 9.491.872
Pres., R. H. Dunham; V.-P., T. W. Bacchus, J. T. Skelly, G. K. Markell,
O. D. Prickett, N. P. Rood; Sec. & Treas., H. H. Eastman.—(V. 1 0, p.
763, 1092, 1977.)
Calendar
Year—
Date
see notes on
first page]
Herrin g-Hall-Mar via—Common stock
—
Pre! stock 7% cum callable at par $700,000
—
Home stake Mining Co—Stock $25,110,000
—hue son Navigation Co—Coll trust s 1 bonds red par— Eq.o
New Jersey Steamboat first mortgage gold
F
Hudson Nav Co gold sinking fund mortgage
o*
Albany River Front 1st lien bds gu ser due $15,000 ann_c*
Humble Oil & Refining—Capital stock $25,000,000-.-—
$6,500,000—.
Pref stock 7% cum conv auth $1,500,000 call 120 & divs—
Hydraulic Power Co of Niagara Falls—See Niagara Falls
Par
Amount
Rate
When
Bonds
MISCELLANEOUS COMPANIES
I For abbreviations,
Value
Outstanding
%
Payable
100
Places Where Interest and
Dividends are Payable
Apr 1 1920 1X
Apr 1 1920 3X
Sept 25 '19 50c
&
J Jan
1 1923
MAN Mch 1 1921
F
A
A Feb 1 1938
Q—M
Equitable Trust Co
Central UnTrCo, N Y
Union Trust Co, Albany
1920-1925 Union TrCOi Albany .NY
Sept
Q—J
See text
Q—J
May 1 '20 2J^ New York
July 1 1920 IX New York
Power Oo.
100
None
N.xo'&r
&
D
20.000,000 161M919 J
Text
425,000
3.000,(100 See text
Q—J
7
3.000.000
Q—M
______
100
Indian Refining Co—Common stock $4,500,000
—
Pref (a & d) stk 7% cum and participating convertible..
Class B (2d) pref (a & d) stk 7% cum (non-conv) call 110—
Indiana Pipe Line Co—Stock $5.000.000—Ingersoil-Rand—Common stock $15,000,000 authorized
Pref stock 6% cum (a & d) option (see text)
100
See text
7 quar
Q—F
5,000,000 24inl9l8
10.900,035 101nl919
Q—J
&
J
2,525,500 6 in 1919 J
100
50
100
100
100
1906
1,000,000
&C
HERRING-HALL-MARVIN SAFE CO.^RGANIZATION.-Incorp.
on
Sept. 22 1905, per plan In V. 80. p. 999.
V- 94, p. 354.
Par, $100.
Div. on pref. In 1913, 7% (A. & O.).
On Jan. 27 1916
paid 7%, being the deferred dividends of 1914, and on May 25 1916 paid
April 1 1915 deferred dividend; on Nov. 16 1916 paid Oct. 1 1915 deferred
dividend; on Jan. 31 1918 paid two deferred dividends, July 20 1918 paid
April 1917 deferred dividend (3}*%).
V. 106, p. 611. On Oct. 2 1918.
3X%, covering deferred div. due Oct. 1 1917; Jan. 8 J919 paid 7%. cover¬
ing deferred divs. to Oct. 1918.
In 1919 on pref., 7%, 3X% A. & O.;
April 1 1920, 3X%.
On July 1 1919 paid 2Yx% on the com. stock.
In
Jan. 1920 paid 2k% and 5% extra on com.; April 1920, 1X%Pres., W. F. Forepaugh; Sec., F. A. Marsellus; Treas., J. M. Swanson,
Office, 400 B'way, N. Y.—(V. 102, p. 612; V. 104, p. 563; V. 106, p. 61,
In N. Y.
419.
LATE
J
5 g
Dec31 '19.
DIVIDENDS.—
3% Checks mailed
do
IX
M8rl5 20
MarlS'20
New
May 15 '20, 4% New York
Apr 30 '20
2X Checks mailed] <•'
do
1920
3%
31 1935
1916.
11
Office
1917.
1915.
B'way,
HERSCHELL-SPILLMAN
1918.
1919.
14
16
6%.
1919, May,
$1,300,777 against
5
39
22
Dividends paid in 1918, June, 8%; June, 8%; Dec..
and Dec. 8%.
Bal. sheet Dec. 31 1919, shows surplus
$692,128 Dec. 31 1918.
Pres., W. A. Miller, Lima.O.; V.-P. & Treas., W. E. Badger; Sec., O F.
Moore, Flndlay, O.—(V. 107, p. 1104, 2012; V. 108, p. 883, 2128.)
109,
IMPERIAL
OIL
LTD.
OF
CANADA.- -(V.
1465, 2076, 2443; V. 110, p. 265, 1746.)
p.
1278
891,
p.
IMPERIAL TOBACCO CO. OF GREAT BRITAIN
&c.—(V.
481, 682, 1465; V. 110, p. 875, 974, 1092, 1419, 1646.)
109i
1752.
CORP.—ORGANIZATION.—Incorp. in Deleware, July 22 1919.
Owns all the stock of the Indian Packing Co., the
Wreen Bay Packing Co., and the New England Supply Co.
Engaged in
the manufacture and distribution to wholesale grocers and for export a
INDIAN
MOTOR CO.—V. 110, p. 1184, 1294.
HOCKING VALLEY PRODUCTS CO.—V. 109, p. 177, 1890; V. 110,
PACKING
full line of canned meats.
1646.
paid Oct. 14
Dividends.—An initial dividend of 25 cents per share was
HOMESTAKE MININO CO.—Incorp. In California Nov. 5 1877. Own#
over 4,000 acres, located In the White Wood Mining District, near Lead.
Lawrence County, So. Dak., where the company has a large gold mining
plant. Including reduction works, stamp mills, electric plants. &c.
DIVS |1910 to 1912.
1913.
1914 to 1916.
1917.
Since'09(50c. monthly 65c. monthly 65c. monthly 65c. mthly
I
1918.
50c. rathly
15% stock
$1 yearly
None
Jan. 1918 to Sept. 1919, 50 cents monthly.
In Oct. 1919 dividends
were suspended "for the present" owing to a fire that necessitated flooding
to the 6th level.
V. 109, p. 1529.
|
__
None
REPORT.—Report for year ending Dec. 31 1918 In V. 109, p. 171.
&c. $4,399,197; deprec n, &c.,
$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. Haggln, N. Y.; Sec., Fred. Clark. San Francisco, Cal. Office
Room 910 American Nat. Bank Bldg., San Francisco; transfer agente.
Columbia Trust Co., N. Y.—(V. 106, p. 90, 927, 1234, 2340; V. 109, p.
171, 1529.)
Total income, $6,121,347; oper. exp., taxes,
1919;
HOUSTON
2175, 2443;
OIL
V.
CO.
110, p.
OF TAXES.—V.
109,
same
amount paid Jan. 14 and Apr. 14 1920.
Heymann, Vice.President; Geo. B. Gifford, Treasurer; John M. Clair, Seer etary and Nathan
J. Miller, office Green Bay, Wis.—V. 109, p. 481, 1083.
DIRECTORS.—Frank
L. Peck, President;
177, 275, 1896, 2076,
166, 260.
For description of new wells, output,
pipe lines, refineries, &c.. see V. 109, p. 1890.
REPORT.—For 1919, in V. 110, p.
,
shall be entitled to receive one-third of the
per-share quarterly dividend
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 to receive that proportion of the
per-share dividend payable at the close of the quarter during which such
final payment is made that the portion of said unexpired quarter at the
date of such final payment bears to the entire quarter.
V. 109, p. 1896.
The company is understood to have paid liberal dividends but no dividend
was available in Nov. 1919.
Balance sheet as of July 31 1919 in
110, p. 1746.
President, R. S. Sterling, Houston, Tex.—(V. 108, p. 787, 1168; V. 109,
p. 1703, 1890, 1896; V. 110, p. 1746.)
record
Common
ois
102, p. 2079.
following: HupEngland, Inc.;
Hupmobile Co. of Nebraska, and Detroit Auto Specialty Corp.
CAPITALIZATION.—Pref. stock, $1,500,000, ail Issued; 7% cum. and
conv. Into com. stock, one share of nref., par $100. for ten shares of com.
$10, prior to Jan. 1 1919.
$192,100 pref. was converted; purchased
retirement to Jan. 15 1920, $348,800; leaving outstanding $959,100.
Sinking fund, $100,000 yearly (but not exceeding 120% of par amount of
pref. stock outstanding) to be applied to purchase of stock at not exceed¬
ing 120.
Voting power: Pref. 10 votes, com. 1 vote for each share.
Com¬
mon,
$6,500,000 auth., $5,192,100 issued, balance reserved for pref.
conversion.
No bonds or mtges. outstanding Apr. 15 1919.
Pref. divs.
Jan. 1916 to July 1920, IX % quarterly.
Initial com. div. ot 2paid
in Feb. 1920; May, 1920, 2H%.
Pref. is redeemable at 120 and accrued
div. at 3 months' notice on any div. date 3 years after issuance of last
par
ror
instalment.
-For year
ended June 30 1919 (V. 109, p. 1076) showed:
1917-18.
1918-19.
" 1916-17.
Net profits after taxes
$535,603
$836,691
$271,479
Pref. divs. (7% p. a.)
79,030
91,553
91,553
—For 5 months ended Nov. 30 1919: Net sales, $9,997,690; balance after
pref. divs., $1,086,755.
OFFICERS.—Chairman of Board, J. W. Drake; Pres
C. D. Hastings;
V.-Pres., Dubois Young; V.-Pres., Sec. & Treas., A. von Schiegeli.
N. Y.
office, 25 Broad St.
Ladenburg, Thalman & Co., N. Y., are interested.
—(V. 110, p. 171. 470, 1752.)
,
"Elec. Railway" Sec.
ILLINOIS PIPE LINE CO.—ORGANIZATION.—Incorporated In Ohio
on Nov. 30 1914 and took over as of Jan
1 1915 the pipe line owned by Ohio
Oil Co., extending from Wood River. 111., to Centerbridge on PennsylvaniaNew Jersey boundary line, about 900 miles. Joining at that point the line
of the Standard Oil Oo. leading to the Bayonne refinery.
The line also
reaches the Solar Refining Co. s plant at Lima, O.
Also has line from
Martinsville. 111., to Preble. 182 miles.
Stock, $20,000,000. all distributed
among stockholders of Ohio Oil Co.
V. 99, p. 1678, 1913; V. 100, p. 144.
'i7.
*19. 1920.
16
See
4
text
May 1920 paid 4% regular.
1913.
1914.
1915.
1916.
32
1912.
DIVS.——.
27
16
16
%. 20
Extra
%
'18.
Feb. 1920 paid 4% regular and 4% extra.
16
16
4
Regular
8
REPORT.—Report for cal. year 1919 in V. 110, p. 768.
1919.
1918.
1917.
$1,073,685
$1,146,233
$1,454,154
(20%) 1,000,000(21) 1050,000(24) 1200,000
Balance, surplus
$73,685
$96,233
$254,154
Profits for year
Dividends
OFFICERS.—D.
S.
Bushnell,
Pres.;
R.
A. Miller,
p.
1916.
$1,300,836
(18)900,000
$400,836
V.-Pres. &
Mgr.; George Chesebro, Sec.; W. F. Livingston. Treas.
Main office. Huntington, Ind.
N. Y. office, 18 B'way,
Gen.
N. Y.—(V. 110,
1294.)
768,
INGERSOLL-RAND CO.—ORGANIZATION.—Incorporated in N. J.
1905 and acquired Ingersoll-Sergeant Drill and Rand Drill companies.
Owns plants at Phillipsburg, N. J., Easton and Athens, Pa., and Painted
Poet. N. Y.
See V. 83, p. 117 ; also V. 84, p. 867: V. 85. p. 465.
Cana¬
dian Co., V. 105, p. 824.
Reported war order, V, 105, p. 2277.
Jane 1
STOCK.—Authorized Issue,
$15,000,000. V.
102.
p.
255,
440,
1439;
719, 1028, 1098, 1388, 1515, 1032; V. 93. p. 874; V. 96, p. 139,
Common stock was increased in April 1916 by 20% stock dividend.
In Dec. 1910, there being $10,231,035 stock outstanding, $750,000 new
stock was offered to employees at 200, payable out of wages. V. 103. p.2240.
V. 91. p.
1232.
DIVIDENDS—
Common cash
do
stock.
%
1911.
1912.
1913.
5
5
5
1914. 1915.
5
*17.
'10.
50
15
30
'18. '19.
10
10
% 25%
25%
—
-20%
—
—
—
On Dec. 29 1915 paid 10% extra In cash as shown and In April 1910 30%
in cash and 20% in com. stock.
On Dec. 28 1916 20% cash; 1917. April,
—
^
20%; Dec.. 10%.
1918, Apr.„30,
1920,
July and Oct. 31, 2X%109, p. 177.
5%; Oct. 31, 5%.
REPORT.—For year 1919 shows:
1919.
an.
31,
2X%\
1918.
$8,116,551 $10,800,765
983,157
1,156,726
6,000.000
1,892,918
Reserve for Federal taxes
160,426
50,000
Bond interest, &c
Total income
Depreciation
on
pref. stock (6%)
(cash) divs—
Common
UTILITIES CO.—See
Chicago & Eastern Illin¬
by Standard Oil Co. of N. J., but segregated In 1911.
Div.
IDAHO POWER CO.—V. 108. p. 2333, 2531.
$633,988
$275,895
Madison Ave., N. Y.
1287.)
INDIANA PIPE LINE CO.—ORGANIZATION. AO.—Incorporated in
indlana in 1891.
Owns pipe lines in State of Indiana.
Formerly controlled
of Detroit and Canada, and the
Amer. Gear & Mfg. Co. of Michigan.
V, 101, p. 2074; V.
Also
owns or
controls, through stock ownership, the
mobile Co. of New York, Inc.; Hupmobile Co. of New
(12%)36O,OO0
INDIANA & ILLINOIS COAL CORP.—See
R. R. and V. 110, p. 464.
$2,878,395
1,200,000
312,500
(3)90.000
$3,703,988
2,500,000
(7)210,000
(12)360,000
Balance, surplus
$1,172,980
Pres., Theodore L. Pomeroy.
Gen. office, 244
City.—(V. 109, p. 891, 1176, 1704, 1896; V. 110, p.
V.
HUPP MOTORCAR CORPORATION.—ORGANIZATION.—Inc. on
Nov. 24 1915 in Va., to make automobiles and take over the bnslness and
dividends
dividends
1917.
1918.
1919.
Preferred
scription by employees, offered the remaining $16,400,000 to shareholders
of record Oct. 28, $10,250,000 of it as Series 'rA
at par, $100 a share, and
$6,150,000 Series "B
at $250 a share.
V. 109, p. 1703.
Stock of Series
1287, showed;
$2,467,980
725,000
(7%)210,000
earnings
Net
Reserve for taxes
STOCK.—The Standard Oil Co. of N. J. owns 50% of the Capital stock.
The 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¬
1704, 1896.
1919 the final $212,000 of the $5,000,000 1st M. 6s of 1911 was
paid off.
V. 109, p. 891.
new
ILLINOIS NORTHERN
dividends),
voting power (except in default in payment of four quarterly
no rignt to subscribe to future issues of stock.
V. 109, p.
In Sept.
and smaller holdings in Wyoming. '
REPORT.
R.
and
p.
HUMBLE OIL & REFINING CO.—ORGANIZATION.—Incorp. In
1917 in Texas.
Has large holdings of well selected leases upon lands in all
sections of Texas and has considerable holdings In Louisiana, Oklahoma
properties of the Hupp Motor Oar Cos
Hugo
INDIAN REFINING CO., IN C—From Jan. 1 to Sept. 151917 a total of
42% in dividends was paid on the pref. stock on account of accumula¬
tions for the quarters ending from Dec. 15 1912 to Sept. 1917, thus clear¬
ing up all accumulations.
In 1917 dividends on common stock, suspended
in 1911, were resumed, with 3% payable Dec. 20; Mar. 1918 to Mar. 1920
paid 3% quar.
V. 105, p. 2098.
*
The $1,500,000 unissued common is issuable only for the conversion of
pref. stock, two shares of preferred for one of common.
Voting trust
ended May 1 1918.
The shareholders voted Nov. 11 1919 to authorize new Preferred stock,
subject to the existing Preferred issue, to consist of $8,000,000 Class B 7%
Cumulative Non-Convertible Preferred stock, callable on any dividend date
at 110 and divs., entitled to no dividends above its 7% pi. a. and having
no
HOOD RUBBER CO.—V. 110, p. 1092, 1294.
"A
|N8Y
INDIAHOMA REFINING CO.—V. 110, p. 265, 768, 1192, 1294,
HERSHEY CHOCOLATE CO.—V. 109. p. 481, 682.
Extra
'C
Jan 2
J Dec
&
8% Flndlay, Ohio
Apr14 1920 25c. Equitable Trust Co, N Y
Per cent
1130.)
p.
O
text
J
a
90.000
Last Dividend
and Maturity
text
&
8ee
Text
(?)
text
5,192,100 See
959,100
7
100
10
100
Illinois Pipe Line Co—Stock $20,000.000-Indian Packing Corporation—425.000 shares—
$5,000,000 gold red 105 since 1911
25.116,000 See text
5
203,000
5 g
1.392.900
6 g
2,403,000
1,000
1,000
1,000
1,000
1915
A
300,000
100
1903
1891
1908
See
$700,000
$100
Hupp Motor Car Corp—Common stock autb
First mtge
181
INDUSTRIAL STOCKS AND BONDS
Mat, 1930.]
Common
dividend rate.
151,518
1,089,595
(10%)
151,518
1,089,580
(10%)
1919 Apr 30. 5%.
Apr.
30, 2X%.
1917.
$9,674,182
858,582
3,452,815
173,000
151,518
3,268,600
(30%)
V.
1916.
$7,925,156
619,539
""50"666
151,618
3,268,600
y(30%)
Bal., sur. or def-__sur.$3,775,794sr$2,416,074sr$l,769,667sr$3,835,498
y Also paid a common stock dividend of 20% ($1,693,880) April 1916.
I
Total surplus Dec. 31 1918, after adding surplus of $730,928 from con¬
solidation of subsidiary company, $10,?41,120.
Wm. L. Saunders; Pres., George Doubleday
Wm. R. Grace; Sec., Fred. S. Overton; Treas., Richard D. Pur11 Broadway.—(V. 110, p. 171, 2197.)
<»FPfOERS.—Chairman,
1st. V-P.,
cell.
Office,
Date
first page]
Par
Amount
Value
Outstanding
%
Inland Steel Co (new co)—Stock $30,000.000
-----1st Mtge g due $150,000 yearly April 1
_FC.c*
Exten A Ret Mtge $10,000,000 skg fd call l03,xxFC.c»&r*
Inspiration Consol Copper Co—Stock $30,000.000
International Agricultural Corp—Com stk $18,000,000 auth.
Pret stock (a A d) 7% cum $18,000,000 authorized
1st M & Oollat Tr sink fd bonds $30.000.000red 103 .Baxo*
International Cotton Mills—Com stock
,0^000-----Pref 7% cum red 105 for 3 years, then 116 ($10-000.000)10-year slinking fund notes $5,000,000 all sold call__OB.c*
International Fur Exchange—-Oommon etock 160,000 shs
Preferred (a & d) 7% cumulative call 110 $5,000.000
Internal Harvester Co.—Com stock f>80,WW. tv\0
Preferred (a & d) 7% cum. Sfio.ooo.ooo. SeeV. 107, p. 1574
Internat Harvester Corp.—See Int. Harvester Co.
INLAND STEEL CO.—ORGAN.—Incorp. in Delaware
of Illinois company, Incorp. In 1893, and owning
successor
1.000 Ac
20
STOCK,—Auth.. $30,000,000;
100
50
500
1919
100
Ac
1917 to Mar. 1920, incl., 8%
p. a. (2% Q.-M.).
In June 1920 paid a div. of 75c. a share (3%) on the
new $25 par value stock.
Extra dividends: In May 1911, 1912 and 1913,
DIVIDENDS.—1917, Mar., 5%; June
each 3%.
1162.
Exten. A Ref. Mtge..
$10,000,000 auth.
Subject to call at 103 & int., all or part.
Annual sink¬
4% of aggregate amount Issued except on first $2,500,000, for
ing fund
47© sinking fund begins In 1928. the 1st M.
$160,000 yearly In meantime. V. 96. p. 1749; V. 97, p. 953;
the
6s being retired
V. 100, p. 645.
110, p. 565.
1917.
1916.
$6,830,146 $14,573,512 $21,240,783 $11,241,046
REPORT.—For calendar year 1919, in V.
Calendar Years—
1919.
1918.
xNet
earnings.
Other income
$6,830,146 $14,473,512 $21,240,783
Total Income.—
$11,365,477
539,241
Bond interest
1,953,713
1,769,166
2,001,560
353,250
7,000,000
2,001,060
436,549
8.500,000
1,999,820
$3,063,553
—
1,424,052
340,981
Depreciation, &c
$3,165,489
$8,535,248
Federal tax
Dividends
—
Balance, surplus
x
124,431
—
After reserve for Federal and other taxes
375,450
—
799,908
$9,650,878
in 1919, but before taxes In
previous years.
Chairman, L. E. Block; Pres., P. D. Block; V.-P. & Sec., E.
Treas., W. b. Truesdale.—(V. 110, p. 470, 565.)
M. Adams;
INSPIRATION
CONSOLIDATED
COPPER
CO.—ORGANIZA¬
TION.—Incorp. In Maine Dec. 18 1911.
Owns 4,216 acres, of which (a)
1.870 for mining lands, and (ft) 2,346 for mill site, tailings, disposals, water
supply. Ac.
all been
Produces about 18,000 tons per day. Company s bonds have
Owns H of the outstanding 16,320 shares of the stock
Acquisition of Warrior property, V. 110, p. 1295.
paid off.
of the Arizona Oil Co.
DIVIDENDS.—An
Initial
dlv.
of 6%%
($1 25 per share)
May 1 1916: July 1916 to Jan. 1919, incl., 107. quar..
was
paid
also July 30 1917.
1 H% to aid Red Cross contributions.
V. 104, p. 2556; V. 107, p. 2479.
In Mar. 1919 the quarterly dividend declared payable April 28 was reduced
to $1 50
(7%%); to Apr. 1920, 7^% quar.
Production (lbs.)
V.
108, p. 2634.
1920—4 Mos.—1919.
26,900,000 26,700,000
1920—April—1919.
6,000,000
6,900,000
REPORT.—Fiscal year ending Dec. 31 1919, in
1919.
V. 110, p. 1639:
1918.
1917.
78,038,306 98,540,041 80,566,982
Sales of copper.
$11,045,222 $17,516,323 $21,242,217
Operating expenses
9,615,367
10,739,579
10,417,411
Admin, expenses and Federal taxes._
272,523
1,065,743
1,236,176
Copper produced (lbs.)
237,698
Other income
Interest
paid
290,063
177,144
...
—
7,091,802
9,455,736
^750,000
Depreciation
~348'633
Balance, surplus or deficit..
_def2,905,173defl,226,573surl,329,505
Net cost of producing copper
13.412 cts.
11.259 cts.
10.439 cts.
Pres., C. F. Kelley, N. Y.; Sec. & Treas., J. W. Allen.—(V. 110, p.
1530, 1639, 1977,2080.)
Aprr21-Apr'2;
July 1 1942
Apr 26
20
First Tr & 8 B. Chicago
York and Chicago
New
7%
June 1'20
J Dec
&-
Bankers
Co.
N
Y
do
Boston, Old Col Tr Oo
do
do
1%%
do
do
1929
1
Tr
do
1932
May 1
Apr 1 1920 1%
Q—J
Q—J 15 Apr 15 1920 IX Checks mailed
Tune 1 1920 1 % Checks mailed
Q—M
REPORT.—Report for year ending June 30 1919, see V. 109, p. 1699. ->
Cross
Net
Bond
Reserve for Preferred
Balance,
Profits.
Income.
Interest.
Cont.,&c. Dividend.
Surplus.
1918-19.$4,734,553 $2,845,014 $511,097
$726,512x$815,969
$791,437
1917-18- 4,504,583
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
1915-16. 2,793,898
2,107,778
581,906
491,817
1,034,055
x Includes five quarterly dividends of 1 % % each.
Total profit and loss surplus, June 30 1918, $1,805,082, against $636,812
June 30
Year—
in 1917.
DIRECTORS.—Stephen B. Fleming (Pres.), Albert French (V.-P.).
(V.-P. A Treas.). Wafdemar Schmidtmanu, Thomas w,
J. J, Watson Jr.
Lamont, A. H. Wiggin, J. R. Floyd (Sec. A Asst.
Pomeroy, Francis M. Weld, Everett B. Sweezy and
Treas.), Daniel E.
Douglas I. McKay.
2197.)
INTERNATIONAL COTTON MILLS.—ORGANIZATION.—A Mass.
corporation organized on Feb. 6 1913. per plan in V. 96. p. 1232, 1705
New Interests then entered the board with Lock wood, Greene & Oo., of
Boston, as managers.
See V. 96, p. 1705; V. 98, p. 1395; V. 100, p. 587;
Office, 61 B'way, N. Y.—(V. 110, p. 1419, 1977,
V. 106, p. 504.
Mills
Owned in
Fee and
Through Controlled Companies. No Spindles.
Ga„ 9,984;
Owned in fee—Manchester. N. H.. 107,496; La Grange.
Hogansville, Ga.. 11,232
128.712
-
Bay State Cotton Corp. ($1,209,800 out of $1,212,100 stk owned;
no bonds)—Warner Cot., Newburyport, Mass., 21,624:
Le Roy
Cotton, LeRoy.N. Y.. 10,080, and Lowell Weaving. 390 looms..
Imperial Cotton Co., Hamilton. Ont. ($521,300 out of $600,000
stock owned)
Cosmos Cotton Co.. Ltd., Yarmouth. N. S. ($470,000 out of $600,000 stock owned; funded debt is $201,000).-
31,704
11,220
19,508
Owns ali the outstanding ($175,000) com. stock and $189,700 of the
$817,800 pref, stock of the J. Spencer Turner Co.
Also owns entire capital stock of Boston Yarn Co., Boston ($100,000).
No funded debt.
minority interest ($2,000,000 common) of the Mt. VernonBaltimore, incorporated Jan. 30 1915, to take over
properties, per plan V. 99, p. 898,
now independently
controlled. See offering of that co.'s notes. V. 99,
p. 898, 1218, 1303: V. 100, p. 58. 234, 479, 737, 816. 905. 1262. 2090; V.
101, p. 373, 697, 927; V. 103, p. 582; V. 104, p. 1268; V. 106, p. 1898.
Litigation ended, V. 108, p. 1514.
CAPITAL STOCK.—The shareholders voted In April 1916 to reduce the
Also
owns
a
Wood berry Mills, Inc..
the Mt. Vernon-Woodberry Cotton Duck
{»ar value of the common stock from issue to $50, thus reducing pref. stock to
ng common to $5,000,000. and to $100 $500,000 additional the outstandbeen in default since Dec.
1916 in V. 102, p. 2170.
Dec. 1 1913.
None to
8ept. 1916. when dividends were resumed at the regular rate. 1%% quar.
Dec. 1916 to June 1920, 1%% quar.
On common div. of 2% ($1 per
$50 share) was paid quar. from June 1918 to March 1920.
In June 1920
pay
the accumulated pref. dividends, which had
1913.
See proposition to pref- shareholders in June
DIVIDENDS.—On pref., 1%% paid Sept. and
paid $1.50 (3%).
NOTES.—The proceeds of the new issue of $5,000,000 10-year notes
sold in Nov. 1919 were in part used to retire the $4,000,000 2-year notes
Feb. 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
1919, $4,005,207.
Sales of
Finished Ooods by International,
1
Production, pounds
Sales, pounds
9,751,228
750?000
Dividends
and^
I
Dividends are Payable
1920 3
June 1
June 1 *20 $1.50
Q—M
J
7 g
N
A
Q-—M
60.000.000
of the capital stock from
Where Interest
Places
Maturity
Q—J 15 July 15 *20 1%%
M
8 >.000.000
$100 to $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 of no par value, was laid over for future consideration.
BONDS.—1st M. 6s of 1908. See V. 87. p.
—
2,500.000
100
100
Feb. 6 1917 as
(o) at Indiana
Dividend
and
shrs
100
The stockholders
168.
?
5 000.000
80,000
None
Last
-
5 sr
9,476.900
4.758,733 See text
5.000.000 7 in 1919
Ac
unissued. $5,000,000: exchanged for stock
p.
7.260.600
13.055.500
100
100
1912
of 1,000,000 tons of steel p.a. and also by-prod¬
uct coking plant. (6) at Chicago Height* a finishing mill producing about
50,000 tons of steel per annum.
In April 1917 purchased 2,000 acres of
coal land 14 miles N\ E. of Pittsburgh.
V. 104, p. 1493.
of old co., $250 for $100, $25,000,000.
V. 104.
Jan. 27 1920 voted to reduce the par value
Payable
Q—M
$25 $25,019,500 8 In 1919
A
A
O
6 g
1.250.000
1.000
J
&
J
6 g
4.320.000
Q—J
23.639.340 See text
1908
1912
Harbor works with a capacity
on
When'
Bate
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, Ac., see notes on
which
[Vol. 110
INDUSTRIAL STOCKS AND BONDS
182
do
-
Ba^State, Cosmwand ImperiaJ^Cos,
3,128,000
34,202,000
41,061,000
40,881,000
38,575.000
38,587,000
-$27,996,866 $28,649,515 $20,091,089
In value
REPORT.—For cal.
1919.
year 1919:
1918.
|
1919.
1918.
profits_$4,256,960 $5,849,681 lint, on notes_ $239,167
$262,206
Net profits— 3,353,117
4,487,914 Net co's prop.$3,023,049 $4,087,752
Co.'s propor.. 3,262,216
4,349,958|
No provision has been made for Federal or Canadian taxes,
Gross
estimated at $700,000 for 1919.
^INTERNATIONAL ABRASIVE CORP.—V. 109, p. 1083,11278; V.
INTERNATIONAL AGRICULTURAL CORPORATION —ORGANIZA¬
TION.—Incorporated in June 14 19091n New York. Owns one-half of the
stock of the Kallwerke Sollstedt Gewerkscbaft. owning potash mines at
Solistedt,
Germany (having sold one-half with an option outstanding In
on the remaining half), Prairie Pebble Phosphate Co., Florida, Ac.
phosphate deposits In Tennessee and fertilizer factories In various States
v. 91. p. 1516. 1450; V. 92. p. 1181; V
94 p. 282. 1768: V. 97. p. 1895;
V. 109, p. 1699.
Had contract till Dec. 31 1920 with the Tennessee Copper
Co. for sulphuric acid, but in Mar. 1920 it was reported that a new contract,
expiring Dec. 31 1923 and modifying the existing contract, had been made.
V. 110, p. 1419; V. 108, p. 2437; V. 106, p. 932, 1581.
Stock Increase,
V. 92, p. 959,1131,1181.
Potash supplies, V. 93, p. 287,231,1197; V. 94,
p. 70, 282.
Properties owned, &c., see application to list, V. 100, p. 138.
Jan. 1912
DIRECTORS.—Robert
$17,000,000 are Issuable for not more than 75% of the
acquisitions. Improvements or betterments, securities of other com¬
panies and general corporate purposes (the last-named to a maximum
amount of $4,000,000, until $21,000,000 are outstanding, and thereafter to
a
maximum amount of $2,000,000), but only when the consolidated net
Income for the tlscai year next preceding shall have been three times interest
charges, incl. bonds to be issued.
Annual sinking fund equals 2)4 % of all
bonds outstanding; May 1 -1914 to May 1920, $3,523,100 bonds were pur¬
chased and retired ($404,500 in 1920), 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.
On June 1 1916 the loans and notes payable aggregated $1,166,092:
on June 30 1917, $3,304,733; June 30 1919, $4,409,665.
V. 109. p. 1699.
Kallwerke Sollstedt Gewerkschaft has outstanding mortgage bonds for
6,000.000 marks, dated June 18 1912.
Independent Phosphate <™)o. has
out $389,000 bonds pledged under mortgage.
Endorsed notes of jointly
owned corporations June 30 1919, $450,000.
remaining
oost of
DIVIDENDS.—On pref. to Jan. 1913, incl., 7% per ann.
None there¬
Divi¬
after to July 1918, when IX % was paid; to July 1920, 1 H% quar.
dend accumulations Apr. 15 1920, about 41%%.
(Chairman),
8.
Haroid
Greene
2080.)
INTERNATIONAL
FUR
EXCHANGE
INC.—ORGANIZATION.—
Incorp. in Deleware Aug. 29 1919.
Has acquired the International Fur
Exchange of Missouri, which in 1916 acquired Funsten Brothers & Co.
(estab. 1881) and F. C. Taylor Fur Co. (estab. 1871).
Business, wholesale
purchase and sale of raw furs of all varieties.
Holds public auctions in
Spring, Fall and Winter at its salesrooms in St. Louis, whither dealers from
all over the world ship both raw and dressed furs for sale at these auctions.
See V. 109. p. 984.
CAPITALIZATION.—The Pref. stock Is callable at 110, sinking fund
BONDS.—Of the 1st M. and coll. trust gold 5s, $13,000,000 were issued
the
Herrick
F.
(Pres.), Frank J. Hale (V.-P.), Edwin Farnham Greene, Rodman P.
Snelling, F. L. Higginson Jr., Boston; F. P. Carpenter, Manchester,
N. II.; John B. Dennis, John E. Rousmaniere, N. Y.; W. J. Casey, Balti¬
more; Albert L.
Scott, Boston; Allan B. Greenough (Treas.).
Chas L.
Talbot is Clerk.
Office, Boston, Mass.—(V. 110, p. 1285, 1325, 1854,
See offering in V. 109, p. 984.
No mortgage without
Initial dividend of 64 cents for
Aug. 29 to Sept. 30 was paid Oct. 1
1919.
In Jan. and April 1920 paid 1%%. V. 109, p. 1278.
President, P. F. Fouke, St. Louis, Mo.—(V. 109, p. 984,1083,1278,1529).
begins June 30 1920.
consent of 2-3 of Pref. stock outstanding.
the Pref. stock for period from
INTERNATIONAL
HARVESTER
CO—Originally
incorporated
ta N/. J. on Aug. 12 1902 and acquired five concerns manufacturing agri¬
cultural machines: Deering Harvester Co., McCormlck Harvesting Machine
Oo., Ac.
ties.
Also has timber lands, coal, ore, blast furnace and steel proper¬
of plants, organization, &c., in Oct. 1918, V.
See full description
107, p. 1574, 1575; V. 108, p.
2038; V. 85. p. 104.
orff Co. of Canton, 111.
S. 385. In June 1919 acquired Chattanooga Plow
V. 108, p. 2437.
Canadian Co., V. 108,
Co. and Parlin A Oren-
view of conditions then prevailing, it was thought best
business in foreign countries and the so called new lines to
In Jan. 1913, in
to transfer the
separate organization, the International Harvester Corporation per plan
in V. 96, p. 365, the capitalization, previously $80,000,000 common and
a
$60,000,000 7% cum. pref. stock being divided equally between the two
On Sept. 19 1918 the separate companies were again united
under the laws of N. J. as the "International Harvester Company" with
the former capitalization. V. 107, p. 1195.1104,1290,1672; V. 108.P.2038.
companies.
Mat. 1920.]
INDUSTRIAL STOCKS AND BONDS
MISCELLANEOUS COMPANIES
Date
Par
Amount
Rate
When
[For abbreviations, Ac,, see notes on first page]
Bonds
Value
Outstanding
%
Payable
International Mercantile Marine—Stock com 560,000,000—
Pref (a & d) 6% cum 560.000.000 (V 84. p 1309, 1370)...
1st M A Col Tr J50.000.000 callable at 110 A int
...N
Securities of Controlled Companies—
Oceanic 8tm Navl 8er 1 af £125.000 yrly, call at par...
let M debents j Ser 2 a f 5% or £125,000. call par
Other issues
see text
100
38,250.000
1908
£100]
£1,865,000
1914
£100/
100
Company to be prohibited after Dec. 31 1919 from having
more
than
sales representative or agent In any city or town in the United States
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.
see
application to list.
V. 107, p. 1574.
DIVIDENDS.—Regular dividends at rate of 7% per annum were paid
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 154% each were paid on April 15 and
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
on
war.
paid Its initial dividend on common stock
1M% Oct. 25 1918; Jam 1919 to April 1920, 1*$% quar.
comoanv
INDEBTEDNESS.—The
company
had no long-term obligations out¬
standing in Dec. 1918.
REPORT.—For 1919 at length in V. 110, p. 1846.
Consolidated Income Account of Merged Companies for 1919, 1918 and 1917.
1919.
1918.
1917.
Operating income after taxes.
.
Interest.
Ore and timber extinguishment
Reserve for depreciation
losses
on
reserve
receivables...
Pension funds
Approp., employees' savings plan
Other
$25,786,197 $31,648,856
818,437
882,454
397,502
447,632
2,769,406
2,385,942
181,976
219,637
607,114
999,866
1,000,000
1,000,000
250,000
973,821
581,486
2,172,146
530,996
1,163,066
750,000
250,000
900,000
10,478,000
4,200,000
3,800,000
9,086,103
4,200,000
$3,608,726 "$6,985,325
$71,645,388 $68,036,662
$7,009,593
7,403,033
4,200,000
4,800,000
Surplus..
Profit and loss, surplus—
...
2,800,000
OFFICERS.—President, Harold F. McCormick; Vice-Presidents, Alex¬
ander Legge, H. F. Perkins, W. V. Couchman, A. E. McKinstry, II. BUtley, P. S. Post; Sec. & Treas., George A. Ranney; Compt., William M.
Reav.
General office, 606 So. Michigan Ave., Chicago.—(V. 108, p. 175,
385, 1932, 2038, 2437; V. 109, p. 276, 582.)
INTERNATIONAL MERCANTILE MARINE CO.—ORGANIZATION.
AO.—Formerly Internat. Nav. Co., acquiring in 1902 (per plan. V. 74.
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. Securities owned in
1919, V. 108, p. 2327.
In Nov. 1916 joined in purchase of N. Y. Ship¬
building Corp. V. 103, p. 1891; V. 105, p. 387.
Id 1918 all the company's 93 steamers representing on Dec. 31
1918
896.52/ gros-5 registered tonnage (including several jointly owned) had
beeu requisitioned and were being operated by the British, United States
and Belgian Governments.
Steamers under construction and ordered at
Jan. 1 1919 aggregated 215,000 tons (V. 108, p. 2328, 2333).
The 43 vessels
lost through enemy action, 1914 to 1918, aggregating 409.967 gross tons,
were all covered by
insurance and so account for the increases shown
in the following items:
*
p.
Quick Assets on Hand Dec. 31—
Cash
on
hand...
1916.
1918.
$5,607,025 $18,443,556
18,379,489
31,511,955
17,907,363
30,856,141
*
Accounts, Ac., receivable
Marketable stocks and bonds
The British Government began releasing from requisition on Feb. 15 1919
all of the British flag steamers not actually required for war purposes, which
has resulted in most cf the British
flag steamers being freed from requisition
but continuing under certain licenses as to trades and special requirements
and regulations for the carriage, at very moderate fixed rates, or a propor¬
tion of British Government traffic.
This release from requisition is very
permits
of
British steamers b3ing re¬
turned to theirjregular services.
The American flag steamers have also
been released from requisition.
Red Star service was resumed in Nov. 1919.
In Oct.
1916 the company's financial position having been vastly lm
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 Oo. being reduced by $30,729,000 and its direct interest charges
from $3,248,330 *s of Dec. 31 1914 to $2,369,820.
V. 105. p. 387.
Ttm
satisfactory, as
it
a
majority
of
plan left entirely undisturbed the existing common and preferred stock.
V. 103. p. 1214.
The American International Corp. (V. 103, p. 2338: V.
p: 90) in 1916-17 acquired a considerable amount of tne canftal stock.
The shareholders in June 1919 voted not to dispose of the British ships.
106.
See official data bearing on this matter but of general interest in
p.
A
A
&
Places Where Interest and
Dividends are
Maturity
Payable
See text.
New York City
O Oct 1 1941
J A D 30 June
J A D30 June
30 1922
30 1943
London
do
883, 1393, 2128, 2245, 2333, 2437. 2531.
V. 108,
See text
M & S15 Mar 15 *20, 3H
M & S15 Mar 15 '20, SH
Mar 1 1919
Q—M
Q—F
in
Rtsiclr
Divs.
Hpiu
2% Bankers Trust Oo
May 1 1920 1
The stock trust certificates for the
ffvft
On
do
h
pref. stock
were
"
on
accumulations,
Payments
do
exchanged for defini-
1Q1Q
Pref. Stock Since Jan. 1 1917—
Regular dividends, now F. & A
1917.
6%
1918.
10
1919.
6%
5
1920
6%
See
15
text
pref. dividend accumulations in 1920, Feb. 2, 5%. leaving
unpaid 52%, or $26,898,260. V. 108, p. 327; V. 109, p. 1183,1278.
BONDS.—First M. <Jk Coll. Tr. Sinking Fund bonds dated Oct. 1916,
and due Oct. I 1941, but subject to prior redemption on any int. date at
on
110 and int.
on 4 weeks' notice.
Sinking fund not less than $400,000 per
beginning In 1917. and proportionately more If more than $40,000,are issued.
Total auth., $50,000,000.
Present issue, bearing
Pj
8%
int..
$40,000,000.
$10,000,000
reserved for future
Remaining
use under restrictions to meet not over 85% of the cost of additional ships,
aquipment, 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.
annum
000 bonds
SUB. CO. BONDS.—Oceanic Steam Nav. Oo. 4H% debs.; to Jan. 1
1919, £2,750.000 had been Issued, of which £814,100 retired by sinking
fund, see V. 87, p. 1091; V. 99. p. 202; V. 102, p. 2170; V. 105, p. 387.
£2.800 Leyland Line debentures, due Dec. 11921 (cash deposited for these).
Official Estimate for 1919.—The estimated combined net earnings for
April 1919, during which, for the first time since the war, the majority of
properties were operated under more nearly normal conditions, showed
decided improvement, indicating that the combined net earnings of the
British and American properties for the year 1919 would probably exceed
by not less than from 25 to 50%the average net earnings of 1917 and 1918,
which were, respectively, $12,171,542 and $11,493,075. V. 108, p. 2333.
the
ANNUAL REPORT.—For calendar year 1918, see V. 108.
(Compare report of White Star Line. V. 106, p 2553, 1686.)
Combined Incoma,
Incl.
Sub.
Cos.
100%
o>oned and Fred.
1918.
Gross earnings (after providing for
British excess profits duty), also
miscellaneous
$38,042,093
Gross op. exp., incl. U. S. war taxes,
British income tax; also int. on de¬
benture bonds of subsidiary co's..
Net earnings.
Interest on I. M. M. Oo. bonds
Depreciation on steamers
Pref. diva. I. M. M. Oo
20,507,389
p.
2327.
Leyland A Co.
1917.
1916.
$60,027,267 $88,449,726
41,188,379
55,061,353
$17,534,704 $18,838,888
2,336,308
2,362,841
3,705,322
4,304,505
(11 %)5,689,805(19)9827,845
$33^388^372
-
Net result
$30,417,*211
reserves
War losses (p. & 1. deductions)
Preferred dividends
Common dividends
7
10,921,891
7
5,331,700
41.834.600 See text
8.912.600 6 In 1919
25
for the sale of harvesting machines and other agricultural implements.
(«) 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
STOCK.—Rights of stock,
See text
100
100
manufactured.
or
J4K
Uh
None
(c) If not otherwise disposed of within one year after the war, the beforementioned lines of machines, Ac., to be sold at public auction.
Reserve
text P
A
6 g
-
Under the pressure of war conditions the International Harvester Co.
(the old company) agreed in Aug. 1918 to a settlement of the Federal antiit had 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
Special maintenance
and
below
trust suit which
The consolidated
51.725.500 See
500 Ac
2d pref (a A d) 7% cum $5,347,800 auth call 105
(The) International Nickel—Common stock 550,000,000 autn
Preferred stock (a & d) 6% non-cum 512,000,000 auth...
(d)
Last Dividend
$100 $49,872,000
1916
Intemat Motor Truck Corp—Com stk 320,000 shares auth
1st pref (a A d) 7% cum $10,921,900 auth call 110
one
(83
$5,803,270
3,191,588
4,169,489
$2,343,697 $26,027,296
The foregoing Includes the earnings from operations of American, Red
Star, White Star, Atlantic Transport and Dominion lines, and Leyland Oo.,
and dividends from
other companies.
Note.—The British
excess profits duty on earnings in excess of the aver¬
earnings of any two of the three years previous to the war was increased
1916 from 50% to 60%, and in 1917 to 80%, but in 1919 was reduced to
age
in
a
bout 40%.
DIRECTORS.—1922: G. J. Baldwin, H.
Bronner, P. A. S. Franklin, J.M.
Perry, Charles H. Sabin and Frederic W. Scott; (b) 1921 term: Otto T. Ban-
nard, Donald G. Goddes, John W. Platten, Charles A. Stone and Frank A.
Vanderlip: (c) 1920 term: Edward O. Grenfell, J. P Morgan, R , Hon. Lord
Pirrie, v.P., Harold A. Sanderson an 1 Charles Steele.
Chairman, Harold
A. Sanderson;
Pres.. P. A. S. Franklin: Treas.,
H. G. Philips: Sec.,
E. E. Parvin.
N. Y. office. 9 Broadway.—(V. 110, p. 82. 664, 1295.)
INTERNATIONAL MOTOR TRUCK CORP.—Incorp. Nov. 8 1916
as 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.
Delaware.
CAPITAL STOCK.—The N. Y. Stock Exchange authorized the listing
of temporary certificates
for 70,777 additional shares of common stock, no
(auth. 320,000 sharet), on and after April 27 1920, on official
as a stock dividend, and 141,554 shares of said common
stock, upon official notice of issuance and payment in full, or in exchange
for outstanding subscription receipts, making the total amount applied for
283,108 shares of common stock.
The stockholders on April 27 1920 (a) increased the auth. common stock
from 80,840 to 320,000 shares, no par value; auth. (b) the declaration of
100% stock dividend (70,777 shares of common stock) on May 11 to holders
of record 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
par
value
notice of issuance
shares for each share of common stock held.
The cash received from the 141,554 shares is to
provide funds to pay off
provide for the erection
the floating debt, amounting to about $2,500,000, to
of
of about $300,000 and
to supply^ additional working capital to increase inventories and thus meet
the requirements of expanding businses.
REPORT.—For cal. year 1919, in V. 110, p. 1084, showed: Sales, $22,143,698; gross income, $3,229,179: net Income (after Fed. taxes, &c.),
$1,983,469; 1st pref. divs. (Nov. 1 1916 to Sept. 1 1919), $841,681; 2d pref.
divs. (Nov. 1 1918 to Sept. 1 1919). $156,376; surplus, $985,412.
Report
for March quar., V. 110, p. 1977,
OFFICERS.—A. J. Brosseau, Pres.; R. E. Fulton, E. C. Fink, V.-Pres.;
C. W. Haseltine, Sec. & Treas.
Office, 252 West 64th St., New York.
a
storage building at the Allentown plant at a cost
—(V. 110,
p.
470, 1084.)
INTERNATI0NAL NICKEL CO.—Inoorp.InN.J. Mch.29 1902
Sept. 1912 succeeded to International Nickel Co. and Colontal Nickel
Oo., per plan V. 95, p. 239, 682.
Had previously acquired all stock of
Canadian Copper Co., with plant at Copper Cliff, Oat.;
and the Orford
Copper Co. of Bayonne, N. J.: control Nickel Corp., Ltd., Loudon
and
4ociete Mlnlere 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. 2227q 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.
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)
(n
MISCELLANEOUS
Date
Par
Amount
Rate
When
Last Dividend
Places Where Interest and
Bonds
Value
Outstanding
%
Payable
and Maturity
Dividends are Payable
COMPANIES
[For abbreviations, &c., see notes on first
page]
International Papei—
Stock common $20,000,000—
Preferred (not as to assets) 6% cum $25.000,000
1st 8c R«f M 5s $20,000,000 s f call 1023* Series A ($7,500,000 con v)
i
Baxxxc*
1917
1,000
fd(V 80,P 1482)Ea.xo~
1905
1,000
Oons mtge 810.000,000 g red 2% sink
Other divisional Issues, see text.
1st M bonds
„
& i)._Col
International Salt—Stock $6,077,130 (V 96. p 1025)
Coll tr M gold $12,000,000 red 105 s f $200,000 yrly.Usmx
Subsidiary Companies—Bonds held by Public—
Internat Prod SS Co marine equip trust (guar p
Refcsot Mining first mortgage gold
Colz
Detroit Roek Salt Co. (sub co) 1st M g
International Silver Co—Common stock (Issued, $9,944,-
500 Ac
1,000
1,000
1898
1903
190
1913
500 Ac
Underlying bonds as of June 1918 see text--—
2-yr gold notes call till Septl '18 at 101. thereafter 100 3* -N
•
Of these $1,702,000 owned by lnt Salt Co
1917
100 Ac
Ontario, was placed In opera¬
1918 $5,314,091, all paid for out
of treasury funds; Its annual output capacity is reported as about 15,000,000
lbs. of nidkel.
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 $50,000,000!(the issued stock being owned
by the American companv) and took over the assets of Canadian Copper Co.
with its mining and smelting operations in Canada and the refining opera¬
tions at the Port Colborne plant. V. 108, p. 2236; V. 106, p. 2348.
Canadian tax retroactive from Jan. 1 1915.
See V. 104, p. 1390, 1902.
Government price April 1918. V, 106, p. 1419; V. 104, p. 1148.
The new refinery at Port Colborne,
tion in July 1918; it had cost to March 31
STOOK.—Shareholders voted Jan. 1916 to decrease the par value of com,
■hares,each $100share being exchanged for four $25 shares. V.102,p.348,71.
1916.
1915.
25
*18. T9-'20.
*17.
23
Common % j
2
10 X
10
173* A lOstk.
In March 1919 com. div. was reduced to 2%
Text.
16
and In June, Sept. and Dec.
stock because of over-stocked market,
Pref. div. however, has been paid as usual.
V. 108,
dividend was paid on common
no
following end of war.
p. 1940; Y. 109, p. 582.
REPORT.—Fiscal year 1919-20:
March 31 Years—
1919-20.
1918-19.
1917-18.
1916-17.
$0,365,472 $11,211,521 $16,181,501 $16,979,608
x$2,745,734 x$5,922,630x$10,129,988 $13,557,970
Preferred dividends (6%)
534,756
534,756
534,756
534,756
Common dividends..-4,183,460
7,948,574
10,040,304
Percent
(10%)
(19%)
(24%)
Gross
X After reserve for
$2,210,978
$1,646,658
$1,204,414
$2,982,910
Fed. taxes, depreciation, mineral exhaustion, Ac.
W. A.
Office, 43 Exchange Place.
OFFICERS.—Chairman of Board, Edmund O. Converse; Pres.,
Bostwick; Sec.
N.
A Treas., James L. Ashley.
Y.—(V. 110,
p.
566.)
•
•
CO.—Incorp. Jan. 31 1898 and pur¬
chased 25 of the principal pulp and paper mills of the U. S.; see V. 81, p.
2623; V. 67, p. 428, and V. 09, 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.
In June 1918 owned or leased over
4,000,000 acres of timber lands in U. S. and Canada.
The Continental
Paper Bag Co., a majority of whoso $5,000,000 stock is owned, has fac¬
tory at Rumford Falls, Me., capacity about 15,000,000 bags daily.
V. 70,
p. 742; V. 69. p. 494, 908; V. 73, p. 786; V. 80, p. 2624;
V. 82, p. 103;
r INTERNATIONAL
V.
PAPER
was
September 1919 on a sul-
Shlte pulp plant of the company. be followed in a reasonable80 tons per
ay.
It is probable that this will The capacity will be about
time by a
V. 109, p. 891, 985.
newspaper plant.
Recent acquisitions, V. 110, p.
1752.1
DIVS.—
08. '09 to'14. *15. '16 1917-Apr. 1920.
6
6 yearly
4
2 yearly
2 2X 6yrly(13*Q-J15)
2
None
None
None
—
—
See below as to payment of 33 J* % of accumulated pref. dividends.
Divi¬
dends on common stock not resumed to Apr. 1920.
Pref. (%)Com. (%)-
1898.
1899. '00 to '07.
43*
1
FINANCIAL PLAN.—The plan of Jan. 31 1917 {J. 104, p. 563, 1049,
was declared operative May 12 1917.
It provided for (a) the refund¬
ing of the bonded debt; (6) an increase in the authorized pref. stock from
$25,000,000 to $32,500,000 solely against the convertible feature of $7,«
500,600 of the new bonds, and (c) the discharge of the 333* % accumulated
dividends with 73*% la cash, 14% In 6% cum. pref. stock and 12% in
common stock, using for this purpose the remainder of the stock thereto¬
fore authorized.
V. 104. p. 1148, 1595, 1902.
V. 105, p. 1526.
On
Dec. 31 1918, of the authorized $20)000,000 common and $25,000,000
pref., there remained in the treasury $235,992 common and $275,324 pref.,
practically all reserved for settlement of the overdue dividends on the (ap¬
proximately) $2,000,000 pref. stock not assenting to aforesaid plan.
De¬
cision handed down In May 1919 holds non-assenting pref. stockholders are
2121)
not
entitled to cash distribution. V. 108, p. 2128. V. 104, p. 2121; V. 107,
p. 1575.]
$20,000,000 First & Ref. 5% Sk. Fd. Mtge. Bonds—See V. 107, p. 1575.
Series A, Issued to retire 6% bonds of parent and subsidiary cos.
and Oonsol. Mtge. 5s, these Series A bonds (but not the re¬
mainder, Series B) to be convertible from July 1 1919 to July 1
1922, Incl., into 6% cum. pref. stock, par for par
$7,500,000
Less canceled through skg. fund, $218,000; in treasury, $862,1,080,000
000
Series A bonds outstanding Doc. 311918 (see V. 107, p. 1575)-$6,420,000
Series B reserved to retire Plercefield Co. 5s,
Series B issued to the
company fin exchange
paid Sept. 1 1919
313,000
for Oonsol. Mtge.
5% sinking fund bonds similarly held or Immediately issuable
to the companv], but held in treasury
3,400,000
Series B reserved under restrictions for extensions. Ac
8.787,000
The $7,500,000 "A" bonds were used
(a) to retire the following bonds,
substantially pledged under the mortgage; First Oonsol. M. 6s, due
Feb. 1 1918, $4,337,000; Oonsol. M. Convertible 5s, due Jan. 1 1935,
$1,722,000; Hudson River P. A P. Oo. 6s, due Jan. 1 1918. $377,000; Rumford Falls Sulphite Oo. 1st M. 6s, due July 1 1918, $332,000, and Piscataall
or
auisremainingOo. 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).
le
An annual
Issued
all
sinking fund 1 % of the total amount of Donds at any time
[plus interest on bonds so retired.]
or in part,
Notes payable
on
as
Callable at option of company
any interest date at 1023* and int.
of Dec. 31 1919, $8,600,000.
Bonds of Controlled Cos—.
Int.
Maurice Lum(PentecostM)
Where paid.
M-Sx._
V. 104, p. 563.
Outst'g. Maturity.
99,500 Sept 1 '27
REPORT.—For 1919, in V. 110, p. 1743, shows:
Cal.
Total Net
Bond
Federal
DepreciPref; Dies.
Balance,
Year.
Income. Interest.
Taxes.
taion.
Paid.
Surplus
$
$
$
$
$
$
1919- 7,833,274
367,380
908,166 2,238,433 (6%)1,500,000 2,819,295
1918
1.556,786 (6%)1,500,000 3,652,578
1.524,682 (63*) 1,461,000 6,719,687
1.518.117 (33*)
784,234 3,836,493
The total surplus Dec. 31 1919 was $22,262,167.
-
8,194,884
385.520
1917 -12,932,173
726,704
1916
7,465,827 1.326.983
-
1,100.000
2.500,000
Y
J July 1 1932
Apr 1 '20 IX% Checks mailed
Q-J
Will
At
A
Text
Text
7
Q—M
Am
1 1948
D Dec
J Jan
11933
Ex Nat Bank, N
dc
do
Y
Aug 1 1917 1% A E FItkin A Co. NY
1 1919 IX Guaranty Trust Co, N Y
Equitable Trust Co. N Y
Mar
6
MAS Mar 1 1933
7g
MAS Sept 1
N.
New York and Chicago
1922
Burbank, Philip T. Dodge
(Pres. A Chmn. of
INTERNATIONAL PRODUCTS CO.—ORGANIZATION.—Incorp.
Md. in May 1917 and in Sept. 1919 was establishing itself in the cattleraising and packing 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 is largely
nterested and in Sept. 1919 owned all the $1,300,000 1st M. bonds.
STOOK.—-The stockholders voted
Sept. 2 1919 to increase the authorized
pref. stock from $5,000,000 to $6,000,000 (par $100) and the author¬
stock from 100,000 shares to 135,000 shares of no par value,
outstanding Oct. 16 1919, $5,997,500 pref. and 131,500 shares or common.
V. 109. p. 985. 1529.
issue of
ized
common
BONDS.—The entire issue of $1,300,000 1st M. bonds is owned
International Corp.
The guaranteed bonds of the Int.
American
1
callable at 105 and int. and mature
are
1921 to July 1 1926,
In Sept.
inclusive.
by the
Prod.
$53,000 semi-annually from
V. 110, p. 566.
stock were paid up to
paid 33*% on preferred.
N. Y. office, 120 Broad¬
1919 all accumulated dividends on pref.
V. 109, p. 985.
In Jan. 1920
OFFICERS.—V.-Pres., Percival Farquhart.
June 30 1919.
way.—(V. 110, p. 82, 566.)
,
INTERNATIONAL SALT CO.—ORGANIZATION.—Incorp. in New
Jersey in 1901.
On Dec. 31 1919 owned (a) all of the $2,501,000 capital
stock and $1,717,000 bonds of Retsof Mining Co., rock salt, and Retsof,
Livingtson 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.); (b) 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.
See statement
Sept. 10 1917, V. 105, p. 1307; V. 96, p. 852, 1100; V. 96, p. 422.
LATE DIVS.—1907-14.
Percent
none
BONDS.—Of
1915.
1>*%
1916.
1917.
'18.
43* 63*+3*R.O. 10
of 1901 ($12 900,000 auth.
be retired each year by sinking
the 59
issue),
'19.
1920.
6
13*.13*.-,one-sixtieth oi
Issued to
fund and
1910 $2,420,000 were retired as the result of the sale
amount
March
cauceled. In
of the West¬
properties.
Of the $8,917,900 bonds issued, $4,797,500 were retired
or before April 1 1919.
V. 82, p. 1443: V. 90, p. 852; V. 99. p. 273.
ern
on
REPORT.—For
Dies.
Feb.
started at Three Rivers, Canada, in
N
in
110, p. 2079.
Work
A
DIRECTORS.—A.
Jan.
Net
Co,
Exec. Comm.), Ogden Mills (V.-P.), F. B. Jennings, F. N. B. Close, Allen
Curtis, Chester W. Lyman (V.-P0, R. Pagenstecher, G. F. Underwood,
H. A. Wilder, Albert H. Wiggln, Wm. D. Russel (V.-P.), Ogden M. Reid.
The Secretary is F. G. Simons.
Office, 30 Broad St., N. Y.—(V. 110, p.
365, 1646, 1743, 1752, 1977, 2080.)
SS. Co.
Balance, surplus....-
6 g
1,000,000
1,077,100
1,296.500
680,000
261,500
100
102 & Int since Mar'16
11912.1913.1914.
,T Oct
Machinery Cor
Interstate Electric Corporation—Com stock $1,000,000
Preferred stock 7% cumulative $1,500,000--—--------
Trust
Columbia Tr Co. N Y
11925
&
685,362
6.028,588 7 in 1919
None
970,764
6 g
2,872,000
6 g
1,867,000
100
(Issued $6,607.500)
1st Lien 6% coll.bds.call(all only)at
Y
Metropolitan Tr Co. N Y
5g
♦2,500,000
875,000
1,000
1912
100
International Steam Pump Co—See Worthlngton Pump A
&
J
A
J Jan 10 *20 33*
1927
I
J
&
J Jan '21-July '26
7 g
636,000
Apr 1 1920 13*;
Q-J
6,077,130 6 in 1919
Empire
A
&
O Oct 11951
5 g
4,026,400
100
1901
700; In treasury, $9,259,338)
First mtge $4,500,000 s f called at 110 since 1901-.N.XO*
Debentures $2,000,000 gold redeemable at par
x
J
do
Bankers Trust Co, N
J Jan 1 1947
J Jan 1 1935
A
See text
1917
1920
....
Stook pref 7% la & d) $9,000,000
Dividend sorlp (V 76, p 106)
J
Checks mailed
None 131,500shrs
100
5.997,500
Products—Common shares 135,000 auth>„
7% cum $6,000,000 1st M bonds
Pref stock
Apr 15 *20
Q—J
5 g
5 g
6,347,000
535,000
1%
13*
July 11899
$100 $19,803,920
100 24,771,240 6In"l919
International
DIVS.—
[Vol. 110.
INDUSTRIAL STOCKS AND BONDS
184
28
Sub. Cos.
vrs.
'19(10mo)
$685,190
613,500
1919, V. 110, p. 1295.
Bond
Divs.
Balance,
10 months ending Dec. 31
Int. on
Expenses
Treas. Bonds. I.S.Co.
Cr$80,434
$46,019
Interest.
$170,508
Paid.
$273,471
Surplus.
$275,626
208,790
364,628
78,033
210.645
622.906
219,363
H. Barnard.
Office, ScrantOD
office, 2 Rector St.—(V. 110, p. 566, 1295, 1752.)
Cr 97,078
59,127
1917-18.. 1,027,500
Cr 77,287
51,873
Pres.. M. B. Fuller; Sec. A Treas., W.
1918-19..
Pa.
N. Y.
INTERNATIONAL SILVER CO—ORGANIZATION, AC.—Incor. in
.Wov. 1S9» under laws of N. J. and acquired sliver-plating properties—see
V". 67, p. 1160; also V. 68, p. 232, 334, 1024; V. 76, p. 106. Al3o has a large
iterllng silver output.
See V. 68, p. 334, as to rights of capital stock,
plants. Ao.
V. 67, p. 1160: V. 68. p. 1024, V. 71. p. 545; V. 82. p. 990.
STOCK.
Ao.—Com.
treasury Dec. 31 1919;
PREF.—
DIVS.
stock Issued. $9,944,700. of which $9,259,338 in
pref ? $6,607,500, of which $578,912 In treasury.
/TO. '11. T2. *13. *14. '15. *16. '17. *18. '19.
8
10
9
73*
7
53* 63*
1
7
(%)]7X
1920.
1X.1X.—,—
In Apr. 1920 there remained accumulated dividends of 113*%.
Also In Jan. 1903 ocrlp for unpaid divs. (213*%) then due, $970,764.
REPORT for year ending Dec.
31 1919:
Net.
Deprec.
Bond Int.
Pref. Din■
Balance.
t$l,462,808
(7%)$422,002 sur.$l,052,686
1918
353,717 net99,529
290,506
(7%) 422,092
def. 449,324
1917
1,287,120
313,194
293,278
(7%) 422,002
sur. 258,654
1016
1,290.454
285.417
293,529
(5%) 301.430
sur. 407,078
t After deducting depreciation, taxes and bond interest.
Total profit and loss surplus Dec. 31 1919, $4,079,794.
Pres.. Geo. H. Wilcox, Meriden, Conn.; Treas., G. H. Yeamans, MerJden, Conn.—(V. 110, p. 1085.)
1919
TRADE MARK CO—ORGANIZATION.—In¬
Oct. 16 1919 in Delaware with a capitalization of 4,250,000 shares
value..
May. it wasiuinored, take over the holdings in the
INTERNATIONAL
corp.
w.tnout par
common
stock of the American Tobacco Co.,
acquired by the A. T. Securi¬
Also maylacquire
ties Oo.( which is said to be a temporary organization].
other concerns with established trade marks; taking in
only one company
Companies to be taken, it is stated, will include manufac¬
turing food products, shoes and other necessities of life.
These products
will, it is stated, be marketed through the worldwide chain of stores of the
United Retail Stores Corp.
See A. T. Securities Go. above. V.109.p.1529.
in each kind.
INTERSTATE
ELECTRIC
CORPORATION.—{See
Map.)—OR¬
GANIZATION.—Incorp. In Virginia on Jan. 28 1913 to acquire
electric
light,, gas, water and ice companies in the U.S. Owns and operates utilities in
Union City and Oorry City, Pa., Great Bend and Holstngtoa, Kan., Tren¬
ton and Ohlllicothe, Mo., San Angelo, Ballinger, Winters, Palestine and
Laredo, Tex., also transmission lines in Texas, Missouri, Kansas and Penn•ylvania.
Compare V. 103, p. 941; V. 104, p. 2654.
CAPITALIZATION.—Stock auth., $1,000,000; common. In $100 shares,
and $1,500,000 7% cum. pref., also In $100 shares, Issued Jan. 1916; out¬
standing common, $1,000,000; pref., $1,077,100.
First Lien 6% bonds
authorized. $2,000,000;
outstanding, $1,296,500, $25,000 having been
redeemed by sinking fund Jan. 1 1918.
Entire bond issue limited to
$2,000,000, secured by underlying 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
$1,500,000 (par $100).—V. 106, p. 1799.
In 1917 and 1918 sold $222,200 6% 2-vear gold notes.
Auth. $1,000.000.
The 2-year notes amounting to $261,500 due Sept. 1 1919 were ex¬
tended to Sept. 1 1922 at 7%. V. 105, p. 1313, 1526, V. 106, p. 2125.
IX%. on pref stock xVfareh I 1910;
1919, 7% p. a. (13*% Q.-M.); since to Oct. 15 1919, none.
1,1%, was paid July 1 1916; Jan. I 1917,1%; Aug., 1%.
DIVIDENDS.—Initial dividend,
then to Mar. 1
Common div. No.
^
INDUSTRIAL STOCKS AND BONDS
Mat, 1920.]
Date
see
notes on first page)
Par
Amount
Rate
When
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, Ac.,
Value
Outstanding
%
Payable
see
and
Places Where Interest and
Dividends are Payable
Maturity
text
Iron Products Corp—Com auth 150,000 shares
Pref stock 8% cumul conv auth $3,000,000
Island Oil & Transport Co stock, $30,000,000
;
10-year gold debs $5,000,000 pledged to secure 1st lien notes
1st Lien Coll gold notes, $3,000,000; call 105...-.-.—c»N
2H-year 7% notes $1,500,000 call 110—
N.c*
Island Refining Corp—7%&Partic 10-yrg bonds $6,000,000
Jefferson & Clearfield Coal & Iron—Pref stook 5% non-oum
None
1917
1917
1918
1919
500~&c"
500 &c
100 &c
100
1890
1910
Ser g notes $3,500,000 (due semi-ann-text) call 101-Cec*
Jones Broi Tea Co Inc (Grand Union Tea)—Common stk
Pref stock 7 % cum call 110 2% s f 1920Jones & Laughlin Steel Co—Stock
1919
beginning 1914
FC.xo*
Kansas City Mo Gas Co—1st M sink fund Durch to 105 _.s
Kansas City Stock Yds Co of Maine—Com stk $2,500,000
Pref stock (a 8c d) 5% cum $9,000,000 auth..
...
1909
1,000
1897
1.000
1,000
1,000
100
100
1,000
100
100
100
100
10Q
SUBSIDIARIES.—Controls the entire stock In the following companies#
whose outstanding bonds not owned by Interstate Elec. Corp., April 1
1919 include (V. 108, p. 883):
San AngeiojTex.rWafcer, Lt. 8c Pow. Co. (1st 6s, due 1939, $429,500);
Great Bend (Kan.) Water 8c Elec. Oo. (1st 5s, due 1923. $19,000); Laredo
(Tex.) Water Oo. (1st 6s. due 1920,
$16,000; 1st
cons.
6s, due 1932, $91.-
OOO; Corry City (Pa.) Electric Light Oo. (1st 6s, due 1920, $6,500, and 2d
4Hs, $6,400); Trenton Gas & Elec. Co. (1st 6s, extended, $36,000); and
1st Ref. 6s, due 1937, $73,000); Wayne Township Power Co.. Pa.),( Home
Power Co. (PaA, Concord Township Power Co. (Pa.), Hoismgton (Kan.)
El. 8c Ice Co., People's Gas 8c Elec. Co., Chillicothe, Mo.; Ballinger Elec.
Lt. & Power Co., Baiilnger Ice Co., Consumers Ice & Fuel Co., Winters
Light & Power Co. and Palestine Ice Co.
Earnings—'
Dec. 31 '18. June 30'19.
Gross
..$645,150
$659,336
Operations
443,927
476,148
—_
-
OFFICERST—Pres.""Wiiliam" Howard" Hoopfe";"
TreasV^W. C$1Hart|\
Sec., Robert W. Davidson; V.-Ps., A. E. Fitkin, W. C. Harty.
Office,
141 Broadway, N. Y. City.—(V. 108,p. 883).
INTERSTATE IRON & STEEL CO.—(V. 109. p. 76, 2268; V. 110,
p. 1192.)
INVINCIBLE
OIL
CORP.—ORGANIZATION.—Incorp. June 16
1919 in Virginia, and acquired (a) entire Capital stock of Invincible Oil
Co. (Okla.); (6) 50,000 shares of Com. stock of Louisiana Oil Refining
Corp. (VaA: (c) Majority of the stock of Gladstone Oil & Refining Oo.
(Okla.).
Through its subsidiaries the company is interested in about 83,643
acres located in Ranger District, Texas, Okla., Alabama and Louisiana,
of which 5,445 acres are proven.
Present production about 5,000 bbls.
daily.
Has two refineries of 3,000 bbls. daily capacity each, 160 tank cars
&c.
See V. 109, p. 2437.
BONDS.—There are authorized and outstanding $4,900,000 6% secured
notes, due serially June 1920 to 1924; $2,000,000 7% 1-year notes, due
Mar. 2 1921; Louisiana Oil Refining Corp. $946,500 1st Convert. 6s, dated
May 1 1917, due May 1 1927 (V. 105, p. 2003).
Pres., E. R. Ratcliff.
—(V. 110. p. 1295.)
IRON
PRODUCTS CORP.—ORGANIZATION.—Incorp. May 29
1919 in Delaware and acquired the Essex Foundry of Newark, N. J. and
Central Foundry Co. per plan in V. 108, p. 2530.
Also has purchased the
properties of Chattanooga Iron & Coal Corp.
V. 109, p. 1796.
Both
clasees of stock listed on New York Stock Exchange in Nov. 1919.
V. 109,
p. 1796.
CAPITAL STOCK.—Preferred stock is redeemable at
vertible, before Jan. 1 1930. into 1 2-3 shares of
com.
925,900
22,600.000
Pledged
6%
M
&
2,773,500
7%
7
M &
1,272.000
4,500,000 7&partic
1.500,000 5 In 1919 ¥'&"
J
&
302,000
J
&
5 g
1,900,000
12,000,000
10
Second mtge gold sinking fund drawn at 105—Usm.so»
Indiana County 1st M $2,500,000 auth sinking fund...Ox
Jewel Tea Co—-Common stock $12,000,000
—
Pref stock 7% cum $4,000 000 call 125 & dlvs
1st M $30,000,000 g s f red 105
96.586sh
100
.
110 and is con¬
for each share of pref.
EARNINGS.—Earnings to Dec. 31 1919 of Iron Products Corp. from
date of acquisition, Central Foundry from Sept. 6 1919, Essex Foundry from
Sept. 30 1P19, Chattanooga Iron & Coal Corp. from Nov. 1 1919, $194,357;
less dividend on Iron Products pref. stock paid Nov. 15 1919, $18,318;
balance for period, $176,039.
OFFICERS.—Chairmon, Stephen J. Leonard; Pres., Geo. A. Harder;
V.-Pres., Chas. S. Rice, Jas. E. Hewson; Sec. & Treas., Stephen Barker.
—(V. 109, p. 582 683, 1796; V. 110, p. 1752.)
,
ISLAND CREEK COAL CO.—(V. 110, p. 1531.)
ISLAND OIL & TRANSPORT CORP.—ORGANIZATION.—(See
Map).—Incorporated in Virginia in 1917 to produce and transport oil from
fields bordering on the Caribbean Sea and in Mexico.
Through stock
ownership owns large acreage in Mexico (in the Tampicos). Columbia and
Cuba.
See Island Refining Co. below and V. 108, p. 1393.
Acquisition
of Metropolitan Petroleum Corp. and settlement of suit, V. 110, p 1752.
In Oct. 1919, the Massachusetts Oil & Refining Co., a majority of whose
$5,000,000 Common stock is owned by the Island Oil 8c Transport Co.,
issued $3,000,090 7% Participating Convertible 10-year bonds, due Oct. 1
1929, and has begun constructing in Boston Harbor a modern refining plant
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 18,000 acres; 3,000 acres of such property being in
proven or geologically favorable territory located in the Southern Light
Oil producing district.
In addition to the aforesaid 18,000 acres, the
company controls contracts, options and rights in respect to a large aditional acreage.
The company has a daily production capacity from Its
two wells of approximately 60,000 barrels.
Island Oil owns 51% of the stock of the Massachusetts Oil Refining Co.
which is putting up a 5,000-barre! refinery at East Braintree, Mass.—
V. 110, p. 1752, 2197.)
For the year ending Feb. 29 1920 the consolidated gross income from oil
sales and other sources was $4,187,594; operating expenses and taxes,
$2,886,842; net income from operation, $1,300.752; interest deductions,
$468,775; surplus for period, $831,977; written off for year for amortization
of debt discount, $248,267; total to Feb. 29 1920, $363,333.
On May 1 1920 the present daily production capacity from two wells
approximated 60,000 barrels.
The company was one of the first to resume
drilling after the Mexican Government lifted Its drilling embargo.
Five
wells are being drilled on favorable locations.
Company "controls under
lease a total of 20,448 acres of oil territory."
ISLAND
REFINING CORPORATION.—ORGANIZATION.—This
being organized In April 1919 under the laws of Virginia as
subsidiary of the Island Oil & Transport Corporation, which will own the
entire $10,000,000 capital stock
See statement above.
The new rco. has commenced to construct (itself or through subsidiary
companies), three refining plants with a combined capacity of 5,400,000
barrels of crude oil per annum, one plant at Palo Blanco (about 80 miles
south of Tampico, Mexico, adjacent to the terminal and loading station of
the Island Oil & Transport Corporation, another on the Island of Cuba, and
the third in the United States adjacent to the Gulf Coast.
The Mexican
and Cuban plants are to produce gasoline and fuel oil and the plant in the
United States gasoline, gas oil and coke.—V. 108, p. 1393.
BONDS.—The Refining Company has authorized an issue of $6,000,000
Seven Per Cent. 8c 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, it Is stated,
will be a direct first mortgage on the American plant and by the pledge of
all the stock of the company owning the Mexican plant, and by not less
than two-thirds of the stock of the company owning the Cuban plant.—V.
108. p. 1393.
The shareholders of the Island Oil 8c Transport Co. were offered the
right to subscribe for the initial issue of $4,500,000 of these bonds in April
company was
a
Last Dividend
$50 $16,700,000
Invincible Oil Corp—Stock auth $14,000,000
Funded debt and notes
185
,
7
1927
S Sept 1 1920
S Sept.l 1920
New York
April 15 1929
A Feb
10 '20 2 H 36
D June 1 1926
J
July 1 1950
Wall
New York
St,
do
do
do
do
Dividends not reported
New York
O—.T
Oct 1 '19.
3,640,000
6 g
M—N
3,000,000
May 1 *21 to^22
10.000,000 2 in 1919 Q—J 15 Apr 15 *20. H%
do
7
do
4,000,000
Q—J
Apr 1 1920 Wi,
30.000,000 Dividend s not rep orted
M
&
N May 1 1939
5 a
New York and Chicago
14.604,000
A
8c
O April 11922
Guaranty Trust Co, N Y
2,771,000
2,500,000
Q—F
Aug 1 1920 1H
5
Aug 1 '20 1X% 30 State St, Boston. Mass
7,991,500
Q-F
6S 8
1919 at 92 H %, this issue was underwritten by
A. B. Leach & Co., N. Y. City.—V. 108, p. 1393;
a syndicate, headed by
V. 109, p. 1465.
JEFFERSON & CLEARFIELD COAL & IRON CO.—ORGANIZATION.
—Organized under the laws of Pennsylvania In May 1896. • See V. 62, p.
908; V. 63, p. 115.
Compare Buffalo Rochester & Pittsburgh Ry.
STOCK.—The $1,500,000 common and $300,000 of the $1,500,000 of 5%
non-cum. pref. stock Is owned by the Rochester & Pittsburgh Coal & Iron
Co (the common mostly pledged as security for Its bonds: V. 75, p. 1357).
DIVS.— \ 1901. 1902 to 1905. '00 ta '14. '15-16.
'17.
'18. *19. 1920
Common, %\
01
5% yearly.
None.
None
None None __
Preferred.% I—1897 to Aug.'14, 5% yrly—
ZH
5
5
5 2H»~
BONDS.—The final $62,0001st M. 6s were called for payment on June 1
1918 at 105.—V. 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
$1,900,000 issued.
V. 85, p. 1341; V. 91, p. 279.
REPORT.—Year ending Dec. 31 1919 in V. 110, p. 1854:
Cat. Yr.
Gross.
Net.
Taxes.
Pref. Divs.
Int.,&c.
Surplus.
1919..$3,805,789
$893,248(aft. taxes) (5)$75,000
$404,137
$375,723
1918- 8,218,513
2,907,686(aft. taxes) (5) 75,000
581,071 2,251.615
1917— 6,765.161
2,386,625
♦518,100 (5) 75,000
1,078,780
714.745
♦
Includes in 1917 an estimate of the excess profits tax due June 1918.
—(V.110, p. 1854.)
JEWEL TEA CO., INC.—ORGANIZATION.—Incorporated in N.Y.
on Jan. 14 1916 to take over the Illinois oo. of the same name.
Sells coffee,
„
.
„
baking powder, soap, &c.
Main offices and plants in Chicago and
V. 108, p. 2026.
Large shipping station leased in Hoboken,
■ea,
Hoboken.
N'OAPITAL.—Pref.
stock. $4,000,000; retired to Dec. 31 1919, $360,000.
April 1 1916 to Oct 1919,
lzA%
quar.
(7% p. a.).
dividend omitted (V. 109, p. 2268.)
Common auth., $12,000,000
(par $100.)
Pref. redeemable at option of directors on 90 days' notice at
125 and accrued divs.
Property cannot be mortgaged; pref. stock cannot
be increased without consent of % in interest in both classes of outstanding
Divs.
Q.-J.:
Jan. 1920
of nplf
f ulrPB
cPnppo
tn]xr
GOLD NOTES.—The $3,500,000 6% gold notes
of 1919 mature in seml-
(M.& NA installments of $500,000 each In 1920, of $750,000 in 1921 and
$1,000,000 May 1922, but are callable any int. date at 101 and int., but
not less than the whole of any one maturity.
For protective provisions,
ann.
see
V.
108,
p.
2026.
'.■■■■.
1920.
SALES
1919.
weeks ended Mar. 20
$4,184,809
$3,812,64©
REPORT.—For calendar year 1919, in V. 110, p. 1413, showed:
1919.
1918.
1917.
Net sales for calendar years.
.$16,538,635 $5,598,496 $15,847,604
12
—
Net profits (see text)
_/oss$l ,847,203
(5M%H93,573
Preferred dividends paid
$1,558,351
(7)275,806
$695,738
(7)266,895
de/.$2,040,776
$428,843
$1,282,551
OFFICERS.—Pres., Raymond E. Durham; V.-Pres., John
Hancock
and O. B. Westphal; Sec. & Treas., C. J. Sheridan; Asst. Sec., Harold F.
Lindley.—(V. 110, p. 769, 1413, 1854, 1977.)
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. 2340).
Owns In Brooklyn, N. Y.,
a plant covering a full
block for preparing and packing tea, coffee, spices,
baking powder, soap, &c., also does importing and jobbing business at 107
Front St., N. Y.
Controls (a) Globe Grocery Stor«j, Inc.. operating
142 stores In Pa.. N. Y., N. J. and Ohio; (b) Grand Union Tea Co. re¬
tailing the company's products only), through 192 stores; (c) Anchor Pot¬
tery. Trenton. N. J.
8TOCK.—Pref. stock (see tabe above) offered by Merrill, Lyncn 8c Co.
In Dec. 1916 (V. 103, p. 2347).
No bonds or mortgages without the con¬
sent of 75% of the pref. stock; the pref. is redeemable at 110 and after Jan, 1
1920 is subject to a yearly sinking fund of 2%.
DIVIDENDS.—Paid on pref. stock In full to date.
Dividends of M
of 1% each were paid on common stock Oct. 15 1917 to Apr. 15 1920.
SALES.—
1920.
1919.
Balance, surplus, for years
„
„
x
...
.
„
_
.
Month
of
April
—
Apr. 30
REPORT.—For year ending Dec. 31
Net profits
Reserved for working capital
Preferred dividends (7%)—
Common
dividends
Excess profits
and Income taxes..
$1,740,936
—
4 mos. ended
— —
-
$1,309,345
6,365,048
4,933,541
191g9, In V. 110,^.1525.
$729,544
150,000
280,000
$604,919
150,000
280,000
_(2%)200,000(1 H)150,000
85,000
73,678
jgi7
$636,146
,,
160,000
280,000
(1)100,000
57,030
Balance, surplus or deficit..
sur.$14,544 def.$48,759 sur.$49,116
Pres., Harry L. Jones, Brooklyn, N. Y.; Frank C. Terhune. Treas., and
A. R. Doerle, Sec.—(V. 110, p. 1192. 1525.)
JONES & LAUGHLIN STEEL CO.—ORGANIZATION.—Incorp. In
Penn. June 1902, succeeding the limited partnership of Jones 8c Laugnllns.
Ltd.
Owns plants and property at Pittsburgh and Woodlawn, 20 miles
from Pittsburgh; controls ore, coal and railroad properties.
V. 93, p. 49.
5s of 1909
($25,000,000 of which were Issued)
secured by all the property owned or hereafter acquired and further
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 ©Qua*
amount of bonds are outstanding.
Sinking fund equal to l-15th of bonds
teuad.
V. 93, p. 49: V. 92. p. 1503: V- 88. P- 1257
■
'
OFFICERS.—Pres., B. F. Jones Jr.; V.-P., W. L. King; Vj-P. 8c Gen.
Mgr.. W. L. Jones: Sec., W. O. Moreland; Treas., Jamesi O. Watson, and
Asst. to Pres., O. A. Fisher. Office. Pittsburgh, Pa.-—(V-107.P.506. 2102.)
KANSAS CITY MISSOURI OAS CO.—Organized April 1897 In Mis¬
souri as a consolidation.
Leased Nov. 10 1900 to Kansas City Gas Co..
rental to cover interest on bonds, sink, fund, taxes and dividends on stock
'payable Q.-M.).
The 5% dividend rate began Dec. 1 1910 and continued
to June 1913. but. owing to decreased supply of gas and earnings, rental
nayments were reduced and no dividends nave been paid since reduction.
V. 96, p. 1559.
See V. 84, p. 1371.
Capital stock, $5,000,000 Bond int. Is
payable A. & O. at New York office of Guaranty Trust Co. or M. & N. in
London.
V. 65, p. 277; V. 67. p. 28.
Control, V. 107. p. 400.
Rates in
1918, V. 107, p. 185.
Pres., J. C. James; V.-Pres., A. Hurlburt; Sec., A.
BONDS.—The first
are
br
HKA^^(ciT^'STOC5K
YARDS CO. OP MAINE.—ORG ANIZA
TION.—Incorporated In Maine In Dec. 1912 and acquired per plan V. 95,
p. 1275. about 95% of the $8,750,000 stock of the Kansas City Stock Yards
Co.of Missouri, which owns about 175 acres used for stockyards purposes,
on which 6% dividends were paid for over 20years.
Stock auth.. common.
$2,500,000: pref. (p. 8c d.L 5% cum. non-voting $9,000,000.
No mortgage
except with the consent of 60 2-3% of the pref. stock.
Dir. on common.
INDUSTRIAL STOCKS AND
186
Date
Par
Amount
Bonds
MISCELLANEOUS COS.—CAPITALIZATION
tFor abbreviations, Ac., see notes on first pageJ
Value
100
100
100
(V. 105, p. 1621, 2098; V.
100 &c
yearly; '19 Feb. 1X%\May 1H%: Aug.
Pres., Eugene
Kansas City.—
CO.-flncorp. In Deo. 1909 In W. Va. as a
852); also owns entire stock and bonds of Home
Light, Heat & Power Co. of Pittsburg, Kan., &c.
Owns electric gener¬
ating plant, aggregate capacity 24,155 k. w., Including new 18.000 k. w.
(V. 90,
consolidation
p.
Elant and 205 milesThe gas mains. Gas miles of high voltage transmission
at Wichita.
of company has 289 customers, 17,292 Dec. 31 1917;
nes
electric customers, 25,032.
Kansas Natural Gas Co's.
Company buys natural gas from Wichita and
See full data, V. 93, p. 170. and V .97, p. 113.
Company supplies without competition eiectrlc light and power and natural
to Wichita and Pittsburg and electric light and power to Independ¬
ence, Newton, Arkansas City, Cherryvale, Eldorado and 14 other com¬
gas
munities
in
The
Kansas.
auth.,
STOCK.—Common
at wholesale electric
communities.
Population
also supplies
company
light and power service in Parsons and two other
served estimated at 166,500.
$6,000,000,
$3,000,000, all owned by Amer. Power & Light Co., which see.
7% cum., red. 115, auth., $6,000,000; outstanding with public,
par, $100.
"
DIVIDENDS.—Quiar., 1 %%
on
outstanding
Pref. stock,
$2,290,600;
pref. stock July 1910 to Apr. 11920.incl.
BONDS (see table).—Redeemable In whole or In part for sk. fd. at 105
and Int. up to Dec. 31 1917. at 104 In 1918. 103 in 1919,102 in 1920 and 101
int. m 1921.
Reserved bonds issuable for not over 80% of cost of
and
twice total interest charge on all bonds laprovided that net earnings exclusive of earnings
Of natural gas business of both Kansas Gas & Electric Co. and Home Light.
Heat & Power Co. shall be not loss than 1 *6 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 for
sinking fund shall be canceled.
V. 107, p. 806.
lmpts., &c.f provided
earns, are
sued and to be Issued, and
Charges.
Surplus.
$743,697
$408,976
*$352,455
1,775,137
498,418
After allowing for other income recelvod.
293,862
204,556
EARNINGS.—12 Mos.to—
Feb. 28 1919
Feb. 281918
x
Net.
Gross.
,—$2,241,968
1,597,882
598,785
218.012
133,000
247,773
Includes Interest on bonds, $252,521 other interest, &c., $149,279.
Pres., H. P. Wright; Sec., Chas. H. Smyth, Wichita, Kan.; Treas., Will¬
iam Reiser.
N. Y. office, 71 B'way.—fV. 108, p. 385, 883.)
"
1916
x
STORES,
DEPARTMENT
INC.—(V.
110,
p.
664,
1752.)
KAY COUNTY QAS CO.—ORGANIZATION.—Incorp. Dec. 20 1911
In Oklahoma.
Was originally only a distributing company, but is now
branchos of the oil and gas business except the refining
producing gas company has holdings in excess of 350.000
acres.
Has considerable and valuable holdings in the Osage Nation and
elsewhere.
Owns and controls a main line system for the purchase and sale
of gas, and owns and controLs three pipe line.systems for the gathering and
transportation of crude oil, and has a fourth system under construction
Most of its oil producing properties have been bought in partnership with
Marland Refining Oo. (*ee below) and other companies.
V. 109, p. 1896.
Proposed merger with Marland Refining Co., V. 110, p. 2080.
in
engaged
business.
all
As
a
STOCK.—The
company
was
formerly capitalized at $1,000,000
(par
increased in 1919 to $10,000,000 of which $4,000,o00 was
issued to shareholders at par, making $5,000,000,outstanding.
The share¬
holders are offered the right to subscribe at $2 per share (par $1) from Dec*
1 1919 to Jan. 15 1920, inclusive for $4,000,000 new stock in amounts
equal to 80% of their respective holdings, making $9,000,000 outstanding.
V. 109, p. 1896.
President, E. W. Marland.
Office, Ponca City, Okla.
—(V. 110, p. 82, 2080.)
$1).
This
was
(JULIUS) KAYSER & CO.—ORGANIZATION.—A re-incorporatlon (Id
Y.) June 31 1911.
"The largest manufacturers of silk gloves lu the
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. Balnbridge, Walton, Cherry Valley. Rockville Center. Monfcicello
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.
Total first pref. stock auth.,
$3,000,000 retired to Aug. 11919, $1,140,400.
V. 92, p. 568; V. 105, p.2270
N.
DIVIDENDS.—On common, April 1912 to Jan. 1913. 1% quar.; April
1913 to Oct. 1910, IX % quar.; Jan. 1917, IH% and 1% extra; April, July
and Oct. 1917, 1*£%; Jan. 1918,2% and 1% extra; April 1918 to Apr. 1920.
2% quar.
V. 106, p. 2277.
REPORT.—Year ending Aug. 31 1919, V. 109. p. 1888.
Year '18-19. Year *17-18.
Profits
(after depreciation)
Fed. income and
Miscellaneous deductions
First preferred dividends
Second preferred dividends.
Common
dividends
Balance,
$2,055,833/
600,000/
150,000
Year '16-17.
$1,585.6311
$1,906,197
$175,000
150,000
12,682
4,906
39,299
(7%)133,006
134,047
141,394
(7%)7,263
15,342
48,650
(8%)527,200(8X)584,900(7X>450,000
profits taxes._
Redemption of preferred stock
excess
/
150,000
$625,683
$716,436
$901,854
Profit and loss, surplus, $5,041.172; special reserve account, $500,000; reserve for Federal taxes, $738,134.
and for change in prices, $500,000; surplus applied in redemption of pref.
stock, $1,250,000.
surplus
Balance sheet of Aug. 31 1919 showed:
OFFICERS.—Pres.,
Edwin S. Bayer; V.-P., Win. A. Shakman and
Comp., Geo. T. Gard¬
Office, 353 Fourth Ave., New York.—(V. 110, p. 1192.)
Louis Lewinsohn; Sec. & Treas., Chas. M. Hemion;
ner.
(GEO. E.)
KEITH
CO.
KELLY-SPRINQFIELD
^
(SHOES).—(V.
MOTOR
>109,
p.
+530, 1796.
TRUCK CO.—(V.
106.
p.
2348 )
KELLY-SPRINQFIELD TIRE CO —Organization.—Incorporated In
N.J. April 15 1899 as Consolidated Rubber Tire Co.; name changed Jan. 2
1914.
In Mar. 1917 purchased for cash the Northland Rubber Co. of Buf¬
falo.—V. 104, p. 955.
Manufactures automobile, inotor truck and car¬
IX Checks mailed
Mch 1 1022
Guaranty Trust Co, N T
Apr 1 1920 2% Guaranty Tr Co. N Y
do
do
May I 1920 IX
do
do
May 11920 IX
New
See text
Q—F
York
do
7 g
1978
May 1 1920 1X New York
Q-F
Q—M
7
F
&
June 30
A Feb
'20
1 1930
50c New York
New York
i
riage tires at Akron and Wooster, Ohio, and Buffalo, N. Y.
of works at Cumberland, Md., see official
in April 1919.
V. 108, p. 1835, 2634.
Concentration
statement to N. Y. Stock Exch.
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
Outstanding common, full share certificates, Dec. 31 1919, $5,361,978.
V. 101, p. 2075.
First pref. has a 2% sinking fund which to Dec. 31 1919
had retired and canceled $521,100 of the $3,758,200 first pref. theretofore
issued.
In July 1919 shareholders had the right to subscribe at par for $5,860,200
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 & divs., and will have
sinking 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 paid.
V. 108, p. 2634; V. 109, p. 683.
of
1916
1917 to Feb 20
IS
10 (4%Q-F)
May, Aug. and Nov. 1 1919 and Feb. 2 and May 1 1920, paid a stock
dividend of 3% along with the regular quarterly cash dividend of $1.
V.
CASH DIVS.
/ '99. *00.
stock.>1
1915.
1914.
^
__
7X
On
1987
108,
p.
1393, 977.
REPORT.—Report for year ending Dec. 31 1919, V. 110, p. 876.
Calendar
Gross
Total Net Int.,Sink.
Pref.
Common
Balance,
Years— Earnings.
Income.
Fund,&c. Divs.
Dividends. Sur.orDef.
$
$
$
$
$
$
.-.7,034,284 3,532,087+2,970,241 316,230 1,255,187 def.1,009,571
7,187,834 4,589,765
x658,663 205,959
785,152 sur.2,939,992
4,323,955 2,648,913
75,164 213,078
785,152 sur.1,575,520
1916—-.3,464,459 2,117,314
96,764 215,932
735.316 sur.1,069,302
Includes
(t)
$2,674,951 and
(x)
$434,124 for Federal taxes.
OFFICERS.—Arnold L. Scheuer, Chairman; Van H. Cartmell, Pres.;
Maurice Switzer, T. C. Marshall and C. A. Brown, V.-P's.; F. A. Seaman,
V.-P. & Sec., and H. B. Delapierre, Treas.
N. Y. office, 200 W. 57th
—(V. 109, p. 177, 683,779,1465; V. 110, p. 771, 876, 966, 988, 1093.)
N.
St.
•
KELSEY
REPORT.—For calendar year 1917 in V. 108. p. 1898:
Years—
Gross.
Net.
Int., &c.
Pf. (7%) Bal.,Sur
1918
$2,123,556
$709,434 x1401,800
$133,000 $174,634
1917
1,767.642
487.360
275,321
133,000
79,039
Cal.
KAUFFMANN
ana
Payable
Apr 1 1920
Q-J
Apr I 1920, 1 X
'•;/ Q—F 15 May 15 '20 2%
1919 $2
15,000,000
Corn,
of which there is
are
10.000.000
8
100
2,762.500
None
2.787,078sh
106, p. 504.)
KANSAS OAS & ELECTRIC
6
3.317,100
5,860,200
100
Including $5,900 In the treasury.
5%, Nov. 1 1915; '17 and '18 5%
Q—F
See text
See text
25
1920
J'a
„
Where Interest
Dividends
Text
$1
Ten-year secured gold bonds redeemable (see text) —Ba.r*
Bonds Braden Copper Mines, &c. nee text
and Nov. 1919,1*6%; May 1919 to Aug. 1920, IX% quar.
V. R. Thayer; Sec., L. G. Trickett; Treas., W. J. Pray,
5 &
100.000 7 In 1919
100
Kay County Qas Co—Stock 110,000,000 ——
Kelly-Springfield Tire Co—Common stock $10,000,000—Prefstock 6% <-urn autb $4.239,200 call 110 sf 2%
Second Pref 8% cum $7,000,000 call 125 sinking fund 3%
Kelsey Wheel Co—Common stock $10,000,000 (V 105, p 75)
Prer stock 7% cum redeemable at 125 and diva
Kennecott Cooper Corp—Stock 3.000.000 sbrg. no par val
and Maturity
6,595.000 8 In 1919
1,859,600 7 In 1919
100
Places
Last Dividend
Payable
per ann
5.868,000
*.000
1910
When
%
»
$1001 $x2,296,000 7
Kansas das & Electric Co—Pref (a &d) stock cum rod 115 First mortgage ($6,000,000) gold callable (text)—Q.xxxc*
Kayser & Co--€ommon stock.$0,750,000
-First pref (a & d) 7% cum $3,000,000 redeemable at 120 —
Second pref (a & d) 7% cumulative $750,000 (see text) —
(x
Rate
Outstanding
(Julius)
[VOL. 110.
BONDS
Y.
on
WHEEL
CO.,
INC.—ORGANIZATION.—Incorporated In
31 1915 the entire assets
Aug. 23 1916, and took over as of Dec
Wheel Co. of Mich, and Herbert Mfg. Oo. of Mich.,
as going concerns, and the capital stock of Kelsey Wheel
Co., Ltd., of
Canada and of the Kelsey Wheel Co. of Tenn.
Owns one of the largest
automobile wheel plants in the world. V. 103, p. 411, 848; V. 105. p. 75.
and business of Kelsey
STOCK.—Auth. and Issued. $10,000,000 com. and $3,000,000 (par $100)
7% cum. pref.; pref. redeemed to Dec. 31 1919, $237,500. 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 1920. 7% per annum (1X% quar.).
Notes
payable as of Dec. 31 1919, $650,000.
REPORT.—For calendar year 1919 showed:
Total Net
Net
DeprecFederal
Income.
Sales.
Int., &c.
Taxes.
Cal.
Years
Preferred
Dividends.
Balance,
Surplus.
$2,892,735 $485,058 $781,090 (7%)$199,780$1,426,807
1,505,290
453,511
275,000 (7%) 204,750
572,029
10,336,315
1.722,864
377,609
305.000 (7%) 210.000
11,321,356
830 255
1,107,602
400,682
(IX)
52,500
654,420
8,178,921
1919. _$21,843,160
19181917-
1916-
Pres.. John Kelsey.—(V. 110, p. 1083.)
KENNECOTT
COPPER
CORPORATION.—ORGANIZATION.—
Incorp. on April 29 1915 In N. Y. with 720,000 shares without par value,
over the Kennecott and Beatson properties In Alaska.
V. 100.
and took
1922.
On Dec. 14 1915 the number
of shares was Increased to
3.000,000 for the purpose of acquiring (V. 101 j). 1717,1811,1889, 2075):
(a) The stock and convertible bonds of the Braden Copper Mines Co.
(mines in Chill); (&) 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 88. Oo.
(d)
$10,000,000 6% 10-year convertible bonds of the Kennecott
Corporation.
See full statement to N. Y. Stock Exchange in
V
102. p. 805.
Co/s status In Nov. 1917. V. 105. p. 2002On Dec. 31 1919 owned (a) $12,828,455 out of a total issue of $12,829,880
stock of Braden Copper Mines Co.
The last-named company in Feb.
1916 sold $15,000,000 First Coll. trust 6% sinking fund gold bonds. V. 102.
p. 524, 714.
See caption of Braden Copper Mines Oo.
(b) $2,385,413 out
of $4,500,000 stock of Alaska SS. Oo. (c) Entire $4,817,400 stock and $23.020,000 first mtge. 5s of Copper River & N. W. Ry.
(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
Bonanza mines, and in April 1919 deeded all its property to Mother Lode
Coalition Mines Co., incorp. in Delaware on April 17 1919 with a capital
of 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.
p.
To retire the
Copper
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
to June
distribu¬
($6 yearly); Dec. 1917 to Dec. 1918, $1 quar.
March 1919
1920 paid 50 cents quar.
Late divs. have been one-half capital
tions.
In July 1917 paid a Red Cross div. of 20 cents.
quar.
BONDS.—The 10-year secured 7s are secured by pledge of 500,000 shares
of capital
stock of Utah Copper Co.
Redeemable all or part at par and int.
premium of 1 % for each year or portion of year from date of maturity.
used to pay $12,000,000 notes maturing March 1 1920. and to
provide additional working capital.
plus
a
Proceeds
REPORT.—For year ending Dec. 31 1919 (V. 110, p. 1970), showed:
Earnings.
Gross
Net
Interest & Deprec., Divs. (See
Balance,
Cal.
Earnings.
Income.
Taxes.
&c.
"x" below).
Surplus.
Year—
$
$
$
$
$
$
5,603,910
3,938,381
820.884
382,853 x5,574,145
2,340,202
15,080,927 14,672,272 898.307 1,222.872 11,148,178
1,402,915
10,026,105 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.
INDUSTRIAL STOCKS AND BONDS
MAY, 1920.]
Date
Par
Amount
Rate
When
Last
Dividend
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on first page
Value
Outstanding
%
Payable
and
Maturity
Keystone Telephone Co. of Phila—1st M g red 108CoIxc*r
1905
FPzz.c*
1919
Mortgage
Keystone Tire & Rubber Co—Stock auth $5,000,000_____
4S> S) Kresge Co (New Mich Co)—Common stk $10,000,000Pref stock (new) 7% cum from Apr 1 '16 pref a & d———
1902
Equip & 1st M Oollat
s
f call 101
l«7
Eastern Telephone A Telegraph Co 1st
1,000
1903
1,000
100
100
1910
Steed
1
Payable
are
Columbia Trust Co, N Y
I Fidelity Trust Co, Phila
1 1929
1922
Q—F
Q—J
Apr 1
Quar
Mar 31 '20
May 1 1920
$1
1920. 1% LawyersTitle 8c TrOo NY
1H
Mar 31 '20 2%
Q—M
J
&
D Dec 1 1940
5 g
2,421,000
35,108,500 6 In 1918 Q-M 29 Mar 31 '20,1^
A
&
O Apr 1 1923
10,862.000
500 Ac
m
D Dec
&
9.915,400 Sir. 1919
9,915,400 8 In 1919
1915
Ac
""looo
1916
which
1.000
Checks mailed
Checks mailed
N
Y,
Phila, Boat,
Ohio
Checks mailed
Farmers' L A Tr Co, N Y
if
MAS Mch 11950
iB
6 891.000
Corp—
1902
1907
Ellsworth Coal Co 1st M $2,000,000 g $100,000 due ylyUPi
Ellsworth coll pur mon s fd 5s guar (part due in 1927)— F.3
Oar trust due $62,000 s-a M & S 15 call (all only) 102
h
J July 1 1935
&
MAN Nov.
4
12.000,000
3.553.200 7 In 1919
100
100
-
First mortgage gold redeemable convertible (text)__F.xc*
1st Con M $35,000,000 g red 105 aft Mch *15 conv.Un.xc*
Lack Iron A Steel Co 1st M assumed In 1917 by Bethlehe
J
Dividends
Sec Tr Co, Camden, N J
See text
3,039,195 See text
New York
Q—J
10,000.000 5 In *19 J
&
J Dec 31 '19 3H
Checks mailed
7
2.000,000
Q—.T
<10
Apr 1 '20 IH%
100
(S H)
J
V
250,000
10
100
100
Kress 8c 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 $10,000,000 auth _____
Preferred stook (a & d) 8% cum $10,000,000 authorized..
Flrst A Ref M $7,500,000 call 105
PeP.c*
Lackawanna Steel—Common stock $60,000,000 authorized. _
5 g
$1.000Ac a$6,725,000
1,000
1,100,000
Places Where Interest and
MAN May 1 '21 to '25 Pitts Union Trust Co
J
A
J Jan 1 1922 8c 27 Farmers' L A Tr Co, N 7
M & S15 Mar '21-Mar '26 Commercial Tr Co, Pbila
Central Union Tr Co, N Y
see
500,000
2,654,000
744,000
5 g
Excluding $1,500,000 under Equip 8c First Mtge of 1919.
a
OFFICERS.—Chairman, W. O. Potter; Pres., Stephen Birch; V.-P.,
W. P. Hamilton; Sec., Carl T. Ulrich; Treas., E. S. Pegram.
New York
ofHcG* 120 Broadway.
N. Y. in
(S. H.) KRESS & CO.—ORGANIZATION.—Incorporated in
H. Kress
operating
Full official statement to N. Y. Stock Exchange in V. 104,
June 1916 to take over the 5-10-25-cent chain store busi ess of S.
A Oo. of N. Y. and S. H. Krsss A Co. of Tex.
In Jan. 1920 was
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. 110, p. 470, 1970, 2080.)
p.
KEYSTONE STEEL & WIRE CO.—> 7. 107, p. 407, 2192; V. 108. p.
to
KEYSTONE TELEPHONE CO., PHILADELPHIA.—"Independent"
(of Bell) telephone system in Philadelphia and vicinity.
The Phila. Electric
Co. 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
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.
Stock, $2,500,000, all owned by Keystone Tel. Co. 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 1920.—V.
109, p. 1530.
Accumulated dividends, previously 63%, have been reduced by payments
as follows: 1915, 2%; 1916, 4%; 1917, 4^%: 1918, Feb.. 2H%. leaving
about 56% accumulated.
V. 106, p. 194.
BONDS.—First 5s subject to call, as an entirety only, ai* 108, beginning
July 1 1908; $6,725,000 have been sold; $1,500,000 are pledged under
Equip. & 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,jp. 1625;
V. 89, p. 47; V. 99. d. 273, 541; V. 101, p. 1192; V. 108, p. 883, 977:
In Oct. 1919 sold $1,100,000 Equip. & First Mtge. Collateral 10-year
Sinking Fund 6% gold bonds, total auth., $1,600,000.
Proceeds to be
used for the Installation of the automatic telephone system.
Secured by
equipment trusts on automatic switchboards 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.
rental
1704. 1991
REPORT.—For the fiscal year ending Dec.
Calendar Years—
1919.
Gross earnings
Net
__
earnings..
Interest charges
Preferred
dividends
1917.
1918.
$1,656,450
$1,605,721
$1,639,299
560,522
664,043
747,449
383,695
334,484
335,271
(3 %) 58,106(8H) 164,632 (8 y2) 164,632
surplus
........
$138,722
$154,927
$247,546
Folwelf, Pres.; James Collins Jones, 1st V.-P.; Edward M. Cooke.
V.-P.
& Gen. Mgr.; Elwood F. Reeves. Sec.
135-141 So. 2d St., Phila.—(V. 110, p. 1192.)
& Treas.
Main office,
258,534.
Net profit and loss surplus June 30 dividends of 15%
Suarterly dividend of 3% in cash, $51,706, and 1919, $514,227. in stock,
RESULTS.—Sales in 1918 aggregated $6,172,291; net profits, $899,284.
1910. $191,809: in 1915. $28,665.
OFFICERS.—Pres., L. Walter Lissberger; V.-Pres., Sydney Bernheira;
Sec.. Walter Lowenthal; Treas., Joel Jacobs.
—(V. 110, p. 365.)
Office, 1877 Bway., N. Y.
.
(S.
S.)
KRESOE
CO.—ORGANIZATION.—In
March
1916
Incor-
Ejrated Co.Michigan to succeed, per plan V. 101. p. and operating (eithei
In Incorporated In Delaware April 1912 1555, 1717, the S. S.
resge
directly or through subsidiary corporations, all of whose stocks are owned)
175 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. C., and east of St. Joseph. Mo. V. 94, p. 1319; V. 104, D* 366.
No
bonded debt Dec. 31 1919; purchase money mortgage, $300,000.
CAPITAL STOOK.—Authorized and issued (see table above) as stated
In
V. 101, p. 1555;
in par value
crease
share to $100.
V. 102, p. 349. 715, 804.
In March 1917 voted to in¬
of the shares of common and pref. stocks from $10 per
V. 104, p. 1049.
DIVIDENDS.—On
No. 1,15c.
new
On
new common
(1>$%), July 1 1916 to Jan. 1918, 4% yearly; July 1918,
2H %:
;—.$4,000,448
$3,463,174
14,100,241
-
11,852,009
Four months—
1918.
I
1917.
1916.
175
170
157
Sales
.$42,668,060 $36,309,513 $30,090,700 $26,396,544
Net income.
$3,505,201
$2,950,999
$2,360,988
$1,809,126
War exc. prof. A inc. taxf 1,225,000
1,250,000
500,000
Res. for contingencies._l
Preferred dividends
(7)140,000
(7)140,000
(7) 140,000(5K) 105,000
Common
dividends
(6)600,000
(5)500,000
(4)400,000 (3)300,000
1919.
Stores, No., Dec. 31
$1,540,201
$1,060,999
$1,320,988
$1,404,126
OFFICERS—Pres., S. S. Kresge; V.-P. A Gen. Mgr., C. B. Van
Dusen: V.-Pres., R. R. Williams; Treas., C. B. Tuttle; Sec., R. A. Bell;
Compt., A. J. McTntyre.
Office, Detroit, Mich.—(V. 109, p.
1896; V. 110. p. 967, 1093, 1647.)
No mortgage
pref. beginning in 1918, 3% of largest amount issued.
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 April 1 1920.
On com.
stock Aug. 1 1919 to May 1 1920, 1% quarterly.
1919.
1920.
Sales—
_$2,464,762
$2,041,389
8,205,231
April
6,725,484
Four months..
REPORT.—For years ending Dec. 31 1919:
No.
Sales.
Profits.
Pref. Divs.
Com. Divs.
Bal.tSur.
$
$
-•
$
(7%)258,330 (4%)480,000 1,337,496
(7%)264,828 (2%)240,000
653.889
(7%)280.000
Cal.
$
$
.145 25,244,131
144 21,160,111
144 17,633,100
130 15,059.683
Yrs. Stores.
1919
1918
1917
1916
♦After
*2,075,826
*1,158,717
*1,465,461
1,354,092
^
(3^)140,000
1.214,092
providing for Federal excess profits and Income taxes.
OFFICERS.—Pres., S. H. Kress, N. Y.—(V. 110, p. 266,
1093,1647,2080.)
891, 1183,
769 1084,
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 Steubonville, O., 126 acres.
Also owns 590 acres of land on the
West Virginia side of the Ohio River, opposite Steubenville, on which a
In operation.
by-product coke plant of 94 ovens was placed
100% dividend on common stock. V. 94, p.
1913.
%
2
preferred, regular._%
8
do
on accumulations
On
4
7
.
distributed In Oct. 1912 as a
1569, 1768; V. 95, p. 1042.
(all
*16.
0
1915.
0
1914.
1
DIVS. SINCE 1912—
On common
_
*17.
10
8
8
*18.
12
'19-'20
text
8
8
paid in 1916)
5
V103,p2082
paid l%and 2% extra on common, quar.
In June 1919 paid 1% and 1% extra quar.; Sept. and Dec. paid 1A%, no
extra; Jan. 1 and March 31 1920, IH%V. 108, p. 2333; V. 109, p. 891.
From June 1917 to March 1919
(now a first
lien), $3,500,000 have been Issued, but in Dec. 1919 $1,000,000 of these
been redeemed and canceled and
$79,000 had been repurchased
andwere held in treasury.
Sinking fund, beginning 1916, will retire at least
had
60 2-3% of new issue before
maturity. V. 101, p. 2075; V. 102, p. 607.
31 1919 showed:
1919.
1918.
1917.
$3,852,789
$9,479,129 $14,198,404
REPORT.—For year ending Dec.
Calendar
Years—
Total income
Depreciation
Reserve for contingencies, Ac
Interest
on
549,320
950,000
420,282
750,000
126,951
4,330,262
1,983,080
517,215
750,000
Depletion of minerals, Ac
1,983,080
------
123,108
207,853
1,686,464
bonds
Reserve for war taxes, Ac
Dividends
$668,149
Balance, surplus, for year
Pres., R. O. Kirk; V.-P., H. D. Westfall; »ec.,
Treas., D. A. Burt.
Office, Wheeling, W. Va.,
14o,654
$1,402,337 $5,618,678
W. B. Higglns: V.-P. A
and Steubenville, O.—
(V. 110, p. 1093, 1647.
STEEL
LACKAWANNA
CO.—ORGANIZATION.—Incorporated
In
The properties (see V. 77, p. 34; V. 74,, p. 1142'
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 1,584,000 tons of finished product p. a.; (2) ore properties
;n Minnesota. Michigan, Wisconsin and New York, stated to have 50,000,000
tons oi ore In sight; (3) 21,700 acres of bituminous coal lands (coal rights
and In fee) In Pennsylvania.
Lebanon property was sold to Bethlehem
Steel Oo. on Feb. 1 1917, the Lackawanna Iron A Steel Oo. bonds, $1,775,000 being assumed by that company.
V. 106, p. 1139, 1140. 1691. Io
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.
Vew York on Feb.
V
15 1902.
76, p. 161. 437; V. 80, p.
STOOK.—Of
stock authorized, $15,bonds. V. 76, p. 869. Pre¬
conversion of debentures since
outstanding Jan. 1 1919.
$60,000,000
the
of
common
000.000 is reserved to retire convertible
ferred stock authorized in Feb. 1910 (for
Mar.
1920.
V. 105, p.
each
1914-15.
1916.
1917.
1918.
1919.
None
6%
12%
8)4%
,i>,%
June, 1H% and 2H% mrtra; Sept., 1918 to
(no extra).
V. 107, p.2193; V. 106, p. 2233,
f 1913.
1%
DIVIDENDS.—
On common (%)------1
In 1918, March,
1%%;
lAvo
2098.
BONDS.—The 1st mtge. 5s of 1903 are
REPORT.—For year end. Dec. 31 1919 in V. 110, p. 967:
Balance, surplus
any
redeemed), $10,000,000; none
pref., \ M% quar. (Q.-J.).
1919, Jan. and July, 2lA%; Dec. 31 1919, 2A% regular and 1% extra.
Sales—
'
1920.
1919.
April
quarterly dividends are in default.
May be redeemed, all or part, at
time upon 90 days' notice at 125 and divs.
Annual sinking fund to
two
retire
BONDS.—Of the auth. $7,500,000 First A Ref. Mtge. bonds
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 Gryp¬
hon Rubber 8c Tire Corp., N. Y.
City, Batavia Rubber Co., Batavia, N. Y.,
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.
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 of outstanding up to $2,659,6,jO.
V. 108, p. 2532; V. 109, p. 177.
In Sept. 1919 $396,430 stock was listed on account of 15% div. paid Sept.
15, making the total listed $3,056,080.
V. 109, p. 1084.
Initial div. of
2^% paid on com. stock in Oct. 1916; in 1917, 12%; In 1918, 12%, and
15% in stock; in 1919, Jan., 3%: April, 3%; May, J5% in stock; July, 3%;
Sept., 15% in stock; Oct., 3%; 1920, Jan., 3%; April, 3%.
SALES.—Six months to June 30 1919, $5,570,120; net profit, $581,277;
Net earnings in 1917. $853,162; in
2143,
STOCK.—Pref. 7% cum., auth., $5,000,000; $4,000,000 issued; retired
Dec. 31 1919, $446,800, leaving $3,553,200 outstanding.
Common,
$12,000,000 auth.
The pref. will have no voting power unless and until
STOCK.—The $10,000,000 pref. stock was
31 1919*
Balance,
N. T.
2d
145 stores.
at holder's option up
convertible into stock, $ for $•
to April 1 1915.
V. 77, p. 34; V. 76, p.
Feb. 15 1910 authorized, per plan In V.
The stockholders on
437.
90, p. 240.
985. a mortgage to secure $35,000,000 40-year
first consol. mtge. gold
bonds, of which $15,000,000 were reserved to take up the first mtge. bonds
due 1923 and
$10,000,000 for additional property and improvements
The $10 000,000 first consol. M. series A bonds issued
into common stock at par between Mar. 1 1912 and
were made convertible
Mar. 1 1922.
Co. $6,000,000 s. f. purchase money bonds are
guar.. Drin. and int., by the Lackawanna 8teel Co.; outstanding, $2,054,000. VT 84. p. 393, 510; V. 104, p. 168.
Car trust of 1910 cover 1.400
ateel cars. V. 102, p. 889.
,
,
,
.
_
,
In the two years ended Dec. 31 1918, the funded debt was decreased
from $32,114,500 to $22,802,000;
floa^gdebt from $610,174 to 8208,880
and the profit and loss surplus Increased from $17,148,169 to $33,771,280.
The Ellsworth Collieries
«,
,n,a
.u
,
MISCELLANEOUS
[For abbreviations, Ac
,
first page]
Par
Amount
Rate
When
Value
Outstanding
%
Payable
1904
1919
100
seven
Interest,
$336,911
274,679
&e
458,172
Depreciation, &c
Profits
def.$449,720
-
Unfilled orders (gross tons)
492,519
10,950,000
Steel
$1,207,109
124,570
$2,277,282
277,418
397,917
708,199
1916.
1917.
10,040,000
$5,365,066 $12,948,199
$9,065,897
Winthrop, Moses Taylor, Cornelius Vanderbilt, O. H. McCullough
Jr., Edwin S. Marston, H. G. Dalton, John H. Hammond, W. V. S.
Thorne, F. F. Graham.—(V. 110, p. 876, 1079, 1098.)
man
LACLEDE GAS 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
stock held by the North American Co. was sold to a syndicate.!
V. 88, p.
1503; V. 76, p. 545, 922; V. 78, p. 1273; V. 80, p. 1000.
Price1 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 in 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 1 1919, an increase in rates equivalent
to two-thirds of the increase originally applied for.
V. 110, p. 1414;
V. 107, p. 1582; Y. 103, p. 324, 2433; V. 92, p. 265; V. 107, p. 185, 619;
V. 108, p. 876.
In 1914-15 built 56-oven by-product coke oven plants.
V. 102, p. 797.
STOCK, &c.—The shareholders voted Sept. 10 1918 to authorize:
(1) An increase of the [authorized] common stock from 175,000 shares of
$100 each ($10,700,000 outstanding) to $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.
n
'00-'04. '0o-'0S.
y'ly.
15 1919
was
BONDS.—See aoolloatlon to Stock
Refunding and Extension 5s of
Too7,8'tP- A273' 1395; V. 79,
1331; V.
92.
p.
'12-'16. '17.
6)4
7
7 y'ly.
lOstk.,
deferred.
V. 108,
6
-
Dividend payable June
•
m '10. '11.
5 y'ly.
Exchange In
1904
V
49.
($20,000,000
p.
n.
p.
1919.
7
15*
-
-
2243.
657.
auth.
1644; V. 80, p. 470; V. 83.
*18.
7
10
issue).
See
1169; V. 91, p.
666; V. 93. p. 1195.
The First Mtge. Collateral & Refunding bonds of 1919 (V. 108,
p. 273)
must at no time exceed the auth. issue of capital stock as from
time
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
p.
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 (6) into Series "B" 30-year 5% bonds issued under the same
mortgage, the latter at a 551% 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. & 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 as
part security for the new bonds.
V. 108, p. 977.
Additional amounts of the new bonds may be issued as follows: (1) to
refund a like amount of Refunding & 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 jless than 15* times interest charges.
REPORT.—For cal. year 1919, V. 110, p. 769, 1414:
Year—
Gross.
Net.
Deficit.
Also in Jan.
1917paidl0% ($1,070,000) from total surplus on com. shares.
en.
OFFICERS.—Pres., C. L. Holman; 1st V.-P. & Gen. Mgr., g. b. Evans;
2d V.-P. & Sec
W. II. Whitton; Treas., W. S. Dodd.—(V. 110, p. 769,
875, 1414.)
LAFAYETTE MOTORS CO.—(V.
LAKE
SUPERIOR
corporated in n. j.
on
109,
CORPORATION
May 19 1904
p.
1465.)
(THE).—ORGANIZATION.—In¬
as successor,
ner
V. 78, p. 1784, 909, of Consol. Lake Superior Co.
plan V. 77, p. 1296, and
Controls Algoma Steel
Corp., Sault Ste. Marie, Canada, and affiliated companies.
V. 107, p.
A
Bank of Mont, N Y, Ac
5% paid Oct 1 1919
A
J
I'
&
628.920 7 in 1916
1,200,000
1 1924
Oct
O Apr 1 1962
J July 1 1950
June3017.3H%
Q—M
8ee text
Fidelity Trust Co. Phila
Bridgeport,
Conn
May 31 '20 1 J* Checka mailed
June ! '20
50c New York
,
19567-8—
'
! •!
'
j
Compare V. 103, p. 2075; Y. 77, p. 771.
Peace conditions. Y. 107,
2380.
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.
50 new
coke ovens have recently been completed, making 160 in all.
In Jan. 1909 the Fleming syndicate acquired control and undertook ex¬
tensive Improvements. (See V. 87. p. 938: V. 88. o. 234,1065; V. 89, p. 916)
Lake Superior Coal Co. and Oannelton Coal 8c Coke Co. own extensive
coal properties in West Va. V. 96, p. 1493; V. 101, p. 921; V. 109, p. 1075.
The
BONDS.—As to 1st mortgage and coll. trust 5s of 1904 (reduced to $7,000,000, and further reduced to $5,294,000), 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. I
1906; 1907 to 1909. none; 1910, 2H%: 1911. 2**%; 1912 and 1913, 5%;
1914, 1915 to 1916, none; 1917 to 1919 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 & 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 & Ref. bonds as to certain of the
gropertles; $5,800,000 are reserved to y'ly onthe Lake Sup. Corp.p.1st 5s.
alfable at 105.
Cum. sk. fd. of 1% retire
bonds out.
V. 94,
1253.
1387, 1569. 1697; V. 95, p. 421,1747; V. 97. p. 1118; V. 101, p. 920; V. 104.
665.
Report. V. 105, p. 994; V. 106. p. 1799. V. 107, p. 902. ■
The Algoma Steel Corporation in yr. 1917-18 paid to Lako Superior Corp.
7% dividend ($700,000) on pref. stock for year ended June 30 1914 and in
year 1918-19 paid it $1,050,000 for 18 months to Dec. 31 1915.
See re¬
port, V. 107, p. 904, 1388.
V. 105, p. 994; V. 99, p. 1216, 818: V, 98.
p. 612, 764; V. 99, p. 1370, 1599; V. 100, p. 1169; V. 103, p. 840.
For Algoma Central & Hudson Bay Ry. and Algoma Eastern Ry., see
RR. Dept. and V. 105, p. 994.
For proposed settlement as to guarantee,
see V. 110, p. 1752.
See V. 109, p. 891, 1075, 1984.
Cannelton Coal &
Coke, V. 93, p. 804.
p.
_
30 1919, in V. 109. p. 977, 10758
total surplus.
Int.ADivs. Other
General 1st Mtge.Int. (5%)on Balance,
Sub. Cos. Income. Exp.,Ac Bond Int. Inc.Bas. Sur.orDef.
$1,344,000 $49,758 $75,573 $264,700 $150,000xsur.$903.484
995,000
53,759
81,785
264,700
150,000 sur. 552,276
330,000 123,834
42,391
367,428
150,000 def.
5,986
290,000
45,760
72,985
277,320
def.
14,545
REPORT.—For year ending June
The deficit in 1915-17 was absorbed by
Earnings
L.S.Corp.
1918-19
y Earns.
Net Earns. Int., Ac.,
Sk. Fd., Deprec'n, Div.&c.Pd. Balance,
Sub.Cos.
Sub.Cos.
Sub.Cos.
Ac.
Ac., Res. L.S.Corp Sur.orDef.
1918-19_$5,441,574 $1,235,710 $324,464z$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
sur. 429,257
1915-16. 3.503,471
1.513,539 873,853
425.595
sur. 690.484
x Deduct loss of $20,000 on St. Mary's Traction Co. and $500,000 re¬
served against further depreciation 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 & Hudson Bay Ry., with deficit of $312,887
for the year 1917-18 and $490,682 for year 1918-19, after deducting railway
and term, bond int.
V. 108, p. 372, 1724.
z Includes $365,000 against $1,000,000 in year 1917-18.
DIRECTORS.—W. H. Cunningham (Pres.), Phila.; W. C. Franz, Her¬
bert Coppell (V.-Ps.), N. Y.; Fred'k McOwen, Phila.; R. Home Smith,
Toronto; J. S. Dale, N. Y.; Alex. Taylor, Sec. (office, 1428 Traders' Bank
Bldg., Toronto); Harvey I. Underhill, South Orange, N. J.; Sydney Mason
and Horace C. Coleman, Phila.; Thomas D. Wood, Philadelphia, Pa.; and
Thomas Gibson, Toronto; James Hawson. Sault Ste. Marie, Ont.
Office,
Sault Ste. Marie, Ont.—(V. 110, p. 1192, 1295.)
LAKE TORPEDO BOAT CO.—ORGANIZATION.—Incorp. Feb. 13
1913 in Maine and builds submarines under the Lake patents, with yards
at
Bridgeport. Conn.
Capacity 24 boats yearly.
V. 101, p. 850.
DIVIDENDS.—1st pref., 1914 and 1915, 7%; 1916. Jan. 2. 7%.
In
Feb. 1916 changed 1st pref. payments from annually to semi-annually.
June 1916 to June 1917, 3>*% semi-annually; Dec. 1917, none paid; since
to
May 1919.
none.
(V.-P.), C. E.
Office, Bridgeport.—(V. 110,p.974.
DIRECTORS.—Herbert 8. Miller (Pres.), Simon Lake
Adams (Treas.); C. E. Adams (Sec.).
MACHINE CO.—ORGANIZATION.—Incor¬
Manufactures for sale or rental automatic macasting tyoe.
Controls Lanston Monotype
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.
Stockholders on Oct. 28 1909 authorized an increase In the stock from
LANSTON MONOTYPE
porated in Virginia in 1892.
ahlnee
for
SSTOOO.OO#
LATE
comnosinc
and
to $6,000,000 and in par value from $20 to $100. V. 90. p. 11058
I*09.
DIYS.—%\
1915.
1916.
1917 to May 1920.
6 yly
3
0
4H
6 yly (1H Q-F)—see below
May 31 1918 was paid in 6% div. ctfs. duo May 31
paid at maturity.
See V. 106, p. 2125; V. 109, p. 121.
'10-T3. *14.
1J*
The div. of 13^%
1919, which
were
REPORT.—For year ending Feb.
Interest.
Pref. Div. Com.Div. Bal., Sur.
1919——$5,531,710 $1,875,097 $1,608,373 $125,000 $187,250 *$45,526
1918
4,946,611
1,854,498
1,244,381
125,000
749,000 *263,883
1917—— 4,800,264
2,247,715
1,204,534
125,000
749,000
169,181
*
New York and St Louis
p.
o
$3,u40,522
DIRECTORS.—J. J. Albright, O. Ledyard Blair, B.
S .Guinness,
Adrian Iselin, Geo. W. Burleigh, Ogden L. Mills, John J. Mitchell, Beek-
4
Payable
902.
1918.
1919;
Moses Taylor: Pres.,
:
V.-Pres., Charles R. Robinson and George F. Downs; Asst. to Pres., Arthur
J. Singer; Treas., J. P. Higginson; Sec., F. F. Graham; Comp., W. H.
Dupka.
Principal office and works, Lackawanna, N. Y.
New York
office, 2 Rector St.
.
are
11929
* Jan
Oct 1
3,000.000 Up to5%
6.000.000 6 in 1919
100
None
150,000shrs
!"Officers.—Chairman,
LATE DIVS.
&
2,199,000
10
bonds
Oom. (%)
Extra
J
10
1,445,194
debentures, &c
896,170
923,559
1,285,357
Int. bds., &c,, of sub. cos
303,317
164,367
173,600
191,379
Rentals and royalties
101,536
8,543
Div. on com. stock-(6 %)2,106,015(8^)2,983,288 (9)3,158,777 (9)3,152,338
Balance, surplus—def.$1,749,153
Where Interest and
Dividends
D June 1 1944
F 6c A
5 g
10
Res've for Federal excess
Lack.
7 g
5,294.000
341,000
$77,446,241 $53,970,836
Net earnings
$3,060,663 $23,418,905 $29,833,917 $16,090,858
Exting. of minas & min¬
368,730
ing investments
212,568
255,549
412,603
1.653,847
Deprec. & accr. renew.,
1,430,696
2,767,843
1,789,059
profits taxes
16,000,000
40,000.000
15,691,900
$A£
1912
1911
$1,997,991
272,325
472,651
REPORT.—Year 1919 in V. 110, p. 1079:
1919.
1918.
Gross sales & earnings.-$34,967,802 $83,438,135
Int.
Places
months.
EARNINGS.—For 3 months ended March 31:
^920.
Net earnings, after all taxes,..-
1,000
500 Ac
1904
$3,000,000 gold—
Bonds, Ac., of Controlled Companies Held by Public
Alg Steel 1st A Ref M $30,000,000 g gu sf red 105 — Usm.o*
Oannelton Coal & Coke 1st M Int gu sk fd 5c per ton
Algoma O 6c H Bay RylSee these cos. under "RRs."
Algoma East Ry
(
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 & Tire Corp—Stock auth 150,000 shares (text)
Income mortgage
First and last coupons for
1.000
100 6cc
—
—
and Maturity
MchlS '19,1 H (Bankers Trust Co, New
Q—M
$100 $10,700,000 See text
A
D Dec 15 *19 2H
(
York, and St Louis
100
2,500,000 5% 1919 J
Union Bank St Louis
A
&
O Apr 1 1934
5 g
10.000 000
1904
Lake Superior Corporation—Stock-.—
First and collateral trust mortgage gold
Dividend
Last
Date
Bonds
COMPANIES
see notes on
fcuclede Gas Light Co.—Common stock, J37,500,000 autk__
Preferred stock, 5% cum, $2,500.000
Refunding and extension M $20,000,000 g Baand MStxxc*
1st M Ooll 6c net g Ser A conv call
_SStxxxc*r*
*
[Vol. 110.
INDUSTRIAL STOCKS AND BONDS
188
1919-20.
1918-19.
28 1920:
J
1919-20.
1918-19.
Net
prof., aft.
(Dividends (6%)S360,000
$360,000
deprec'n __-$1,104,529
$658,4421 Bal., surplus. $744,529
$298,442
Prs., J. Maury Dove; Sec., Arthur Sellman.
Office and
Factory,
24th and Locust Sts., Phila.—(V. 109, p. 171, 1896; V. 110, p. 2080.)
LEE
RUBBER
& TIRE CORP.—ORGANIZATION.—Incorporated
1915 to take over the assets of the Lee Tire & Rubber
Pa.
The company has authorized 150,000 shares of
stock (no par 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 1919 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.
In N. Y. on Dec. 14
Co. of Conshochten,
Has
no
bonds
or
Pref. stock.
Common stock listea
on
N. Y.
Stock Ex¬
change.
V. 101, p. 1977; V. 103, p. 1892.
In 1916 paid three dividends
of 50c. and 25c. extra, none thereafter until June 1 1920, when 50c. was paid.
Date
Lehigh Coal & Navigation—Stock authorized $29,243,400—
General mortgage gold (closed)
--FP.xc&r
Fund and Imp mtge.g (Ser A $2,766,000) (closed) — PIP.xc
bonds $3,000,000 red 10214
Par
Amount
Rate
When
Bonds
fISCELLANEOUS
CO
tFor abbreviations, &c„ see notes on first page
Oollat trust power
Value
Outstanding
%
Payable
1884
'1898
GuP.xc*
PePJcc*r»
—
M $40.000,000,g. a f red text
Unsecured serial notes due $100,000 yearly
Conaol
Lehigh Valley Coal Sales Co—Stock auth $10,000,000-- — -Lehigh & Wilkes-Barre Coal—Stock $10,000,000 autnorlzed.
Consol M gold maturing $2,500,000 every 5 years.-PeP.c*
Liggett & Myers Co—Common stock
1911
1914
1916
$50 $29,173,950 8 in 1919
3,906,000
4H g
1,000
4 g
1,000
3,901,000
4 Yi
2.985.000
1,000
15,028,000
434 g
1,000 &c
4
240.000
20,000
text
50
9.778,435 See
Gold bonds (not mortgage)
do
do
do
do
100
100
1911
1911
1918
50
60
&c
&o
1,000
None
Places
Where Interest and
Dividends
are
Payable
J
&
D Dec
J
&
J Jan
J
&
J To
Q—J
D Dec
&
1 1921
1 1954
do
do
New York 8c Phila
July 1 1922 Office, Philadelphia, Pa
Apr 1 1920 4% Checks mailed
29
'19
6#
Checks mailed
June 1920-35
Liberty Nat Bank. N Y
June 1 1920 3% Checks from Cent Tr do
June 1 1920 3%
do
do
Apr 1 1920 IVi
Oct
1 1944
Guaranty Trust Co, N Y
do
Aug 1 1951
Dec
1 1921
do
New York
May 1 1920 50c
Excluding $8,695,000 in treasury.
showed:
1919.
$5,583,993
1918.
$4,609,924
1917.
$4,073,895
$584,045
REPORT.—For calendar year 1919
Calendar Years—
Net sales———
—
Balance,
.
113,788
$61,688
39,100
LEHIGH & WILKES-BARRE COAL CO.—ORGANIZATION.—Org. In
Pennsylvania Jan. 1874.
Owns In fee and leases property located In
$471,806
surplus
$314,136
$200,348
$22,588
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 1918
DIRECTORS (and Officers).—John J. Watson Jr. fPres.), Albert A.
Garthwaite (V.-P. & Treas.), H. C. Coleman, Joseph Wayne Jr., Stephen
B. Fleming, Samuel H. Miller, James A. Fayne, Walter
De La Cour, John M. Dettra, Horace C. Jones. John M.
is Henry
R. Herrick, J. Carl
Dettra.
The Sec'y
N. Y. office, 61 Broadway.—(V. 110, p. 1903,1854.)
Hopkins Jr.
LEHIGH COAL & NAVIGATION CO.—Owns canal from Coalport to
Easton, Pa., 46 miles, and leases Delaware Division Canal, 60 m. Also owns
Lehlgb A Susquehanna HK„ Philllpsburg, 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 fines, 17 miles; total, 206
115 miles double track; but all these roads are leased for
1871 to Central of N. J; RR.. rental being 33 1-3% of gross
miles, of which
999 years from
receipts, with
a
minimum rental of $1,414,400, and maximum of $2,043,000
eased for 99
from 1866.
filus 7 % on Improvements made In 1904 majority of capital stock of Lehigh &
since Dec. 311882. Delaware Division Canal
years
England RR. was acquired.
V. 78, p. 1785; V..79. D. 2646; V. 97. p.
668, 1587; V. 100, p. 731.
Cancellation of guaranty of Allentown Terminal
RR. 1st M. extended (from July 1 1919) 6 p. m.
V. 108, p. 2634.
As to decision In Oct. 1915 In anti-trust suit by U. S. Dlst. Court (sub¬
New
ject to appeal), see V. 101, p. 1473).
U. S. Supreme Court decision, V.
110, p. 1816.
Rebate suit March 1916 appealed in April 1916 before the
U. S. 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
using the coal dust from the mines, to the Lehigh Pewer Securities Corpora¬
tion, 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
V. 96, p. 1367; V. 100, p. 645, 731.
operate the mines.
STOCK.—Shareholders of record Oct. 31 1917 were allowed to
at par
for $2,655,750 10% of new
Also
15%
1901.
1902.
m
1904.
1903.
5
6
534
scrip March I 1910.
subscribe
V. 105, p. 1713.
stock.
6
DIVS.—1900.
Per cent,.
7
1905-08.1909. 1910-May'20
Syearly
9 8yearly(2Q-F28)
V. 90, p. 55; V. 92, p. 265.
1884 covered 7.460 acres coal land, 48 miles cana
For mtge. of 1898, see V. 67.p. 125; V. 70. p. 428
106.
With Central RR. of N. J. guar. $1,062,000
Lehigh 3c Hudson River Ry. gen. 5s. prin. and int.
V. 67. p. 788.
The coll. trust 434% power bonds, dated Dec. 1 1911, are secured by
deposit of $1,000,000 Lehigh Coal & Nav. Co. consol. 4348 and $3,000,000
Leh. Nav. El. Co. ser. A. 1st gold 6s.
V. 95. p. 1671: V. 98. p. 685.
Lehigh Navigation Electric Co. $950,000 1st Ser. B bonds are guaranteed
as to Interest payments by Lehigh Coal & Nav. Co., this Interest being
BONDS.—Gen. mtge.of
and 161 miles railroad.
V. 81, p. 720; V. 84. p.
Sayable at the following annual rates: July per annuin.Jan. 1918, 4%j
uly 1918 and Jan. 1919, 434'%; thereafter, 5% 1917 and
The mortgage
Lehigh Coal & Nav. Co. retaining the $3,000,000 serres
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. 434s ($40,000,000 auth. Issue) were secured by about
12,734 acres of anthracite lands in Carbon and Schuylkill counties. Pa., and
has been closed, the
properties, and all except 100 shares of Lehigh 8c New
England RR. stock ana stocks and bonds or other affiliated companies.
Of
the $18,000,000 Series A, $14,000,000 were sold to retire $10,054,333 prior
lien lxmds and secured gold notes outstanding, and for general purposes,
and $4,000,000 held in treasury or pledged as collateral for bonds.
$3,390,000 Series B issued in 1917 and taken into treasury as reimbursement for
improvements made In years 1914, 1915 and 1916.
Of the lxmds 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
canal and railroad
purposes.
Redeemable on any July 1
fund of 5 cents per ton of pea and larger
at 10234 and Interest by sinking
coal mined and shipped.
Callable
10234 and int. until July 1 1921; thereafter at 105.
To Dec. 1919, $647,000 had been retired by sinking and other funds, making $15,028,000 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 1919, in V. 110, p. 769:
Calendar Years—
1919.
1918.
1917.
Coal production (tons)
4,108,968
5,005,277
4,898,424
Gross earnings—
$24,886,908 $25,837,545 $21,841,894
Net earnings.$4,910,236 $5,236,331 $5,696,111
General taxes.
651,968
963,750
947,103
at
-
-
201,200
General, &c., expenses
Interest on funded debt
Dividends (8%)
-
surplus
Pres., S. D. Warriner; V.-P., H. F.
Office, 437 Chestnut St., Phila.—(V.
1087,
273,523
190,353
1,158,355
Miscellaneous
Balance,
OFFICERS.—Pres., Geo. N. Wilson; V.-P. & Gen. Sales Agt., W. R.
Evans; Sec. & Treas., W. J. Burton.—(V. 106. p. 1904; V. 108, p. 687,
2128, 2246.)
112,239
Operating profit
Deductions (net)
1,171,177
1,186,882
23,830
2,333,916
22,792
2,333,672
9.372
2,124,636
$540,967
$471,417 $1,237,764
Baker; Sec. 8c Treas., H. H. Pease.
109, p. 76, 177, 1896; V. 110, p. 769,
1093.)
VALLEY COAL SALES CO.—Incorporated In New Jersey
Jan. 22 1912.
Purchases from the Lehigh Valley Coal Co. coal mined, purchased or otherwise acquired by the Leh. Val. Coal Co. and affiliated com¬
panies. and ships and markets the same under contract. The lower Federal
Court on Dec. 21 1914 dismissed the Govt, suit against the company and the
Lehigh Valley RR., Ac., for alleged violation of the anti-trust law and the
commodities clause of the Inter-State Commerce law.
V. 99. p. 1914; V..
98, p. 916.
Stock auth., $10,000,000 (par $50), of which $9,778,435 hap
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.
LEHIGH
p.
Dividend
and Maturity
Q—F 28 May 29 *20 2% Office, Philadelphia
do
do
Qu 8c Sa May 1 1924
&
J July 1 1948
do
do
4 g
J
&
D
y5.801.000
21,496.400 16 in '19
Q—M
10,748,200
22,514,000 7 in 1919
Q—J
A
&
O
14,535,100
I*
F
&
5 g
A
15,059,600
J
&
D
6 g
20,000,000
700,000 shs See text
1,000
100
Preferred stock (a & d) 7% cumulative
Last
J
9,210,000 13 In '19 J
50
1910
$21,496,400
$21,496,400---$22,759,900
$15,507,800 auth—G.xc*&r*
15.059,600 auth—_G.xo*&r*
Three-year Gold Notes $20,000,000 callable (text)— G.c*
Loew's Inc—Stock authorized 4,000,000 shares
Common stock Class B non voting,
y
189
INDUSTRIAL STOCKS AND BONDS
Mat, 1920.]
1429.
DIVS. (%)—
1913. 1914. 1915. 1916. 1917. 1918.
1919. 1920.
Regular
10
10
10
10
13
16
16
see
Extra (see above)
25
—
30
—
—
text
do Liberty L. bonds—
__
—
—
10
5
From July 1917 to Apr. 1920 paid $2 (4%) quar. (16% p. a.); May 1918
paid an extra of approx. $5 (10%) and again in May 1919 ($2 50) 5% in
Lib. bonds.
V. 108, p. 2246.
__
being pledged under its General Mortgage.
Tonnage mined for year 1918, 4,353,328 tons, purchased 23,680 tons,
4,388,221 tons.
The decision or U. 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.
U. S. Supreme Court decision, V. 110,
p. 1816.
Reading anti-trust case, see V. 103, p. 1122.
owned $8,489,150, $7,850,000
sold
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
outstanding, $5,801,000, with an additional $8,695,000 purchased and held
In
treasury.
DIVIDENDS.—Dividends of 634% have been paid each J. &
1909 to Dec
D. from
1919, both inclusive.
REPORT.—For cal. year 1918 (V. 109,, p. 1270) shows;
Gross receipts,
$23,019,215;
net $5,057,845; int., divs. (13%, $1,197,300), taxes, &c..
$3,285,865; bal., surplus, $1,771,980.
For 18 mos. ended Dec. 31 1917,
gross, $29,522,234, bal. after dividends, $3,635,950.
Pres., Charles F. Huber; Sec. & Treas., F. T. Dickerson.
Offices,
Wilkes-Barre, Pa., and 143 Liberty St., N. Y.—(V, 106, p. 2339; V. 109.
p. 1270.)
LIBBY, McNEILL & LIBBY.—V. 109, p. 1797; V. 110, p. 1977,2080.
LIGGETT & MYERS CO.—ORGANIZATION.—Incorporated In New
Jersey Nov. 24 1911 and under order of U. S. Clroult Court dated Nov
16
1911 took over under plan of disintegration of American Tobacco Co. (V. 93
D. 1122-24), certain of Its plug, smoking, cigarette and little cigar factories
V. 93. p. 1537; V. 94. p. 282; V. 100, p. 896; V. 107, p. 2012.
STOCK.—To provide additional working capital, shareholders of record
Sept. 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. Dula
on May 16 1918 stated "Should It become necessary to Issue more stock
aot a or* than 26% of the amount authorized at this meeting will be issued
at *a* time and at least three meatihs' notice will be given stockholders of
the payment date.
See V. 106, p. 2125, 2653.
In Dec. 1919 it was decided to issue $10,748,200 of the
Common "B"
half as of June 1
1920; each issue to be
stock—one-half to be issued as of Mar. 1 1920 and the other
1920—to holders of common stock of record Feb. 10
subscribed for at par in the proportion of one share of com. "B" for each
four shares of common hold.
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
(21,496 shares) to be sold at par to persons
agement and operation of the company.
stock
]
common
108, p.
extra
Apr.
In
1913 to 1919.
(Dec. 1912
DIVIDENDS (%)—
On
Common,
4% extra ann.
I
Initial div. of 3%
on
Class *'B" common
prior claim.
3%
extra dividend
in April.
omitted.
stock was paid June 1 1920.
BONDS.—The rights of the 7s are prior to those of the 5s.
without making these bonds a
March 1920.
12%(3%Q.-M.)
3%
(V.
1064)
"B" shares of the capital
connected with the man¬
No mortgage
See V. 94, p. 282.
""NOTES.—The $20,000,000 Three-Year 6% gold notes were sold In
Nov. 1918 (V. 107, p. 2012) to reduce current Indebtedness, due to increased
and cost or Inventory.
They are callable at company's option on
interest date after 30 days' notice, either as whole or In part, at 102%
from the date fixed for
amount
any
and Int. for notes with two years or more to run
redemption; at 10134 and Int. for notes with one year or more but less than
two years to run; at 101 % and int. for notes with lees than one year to run.
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
As
obligations.
1919, V. 110, p. 868.
Net
Bond
Pref. Divs.
Common
Profits.
Int., &c.
(7%)
Dividends.
$8,897,198 $2,968,162 $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
8,416,814
1,872,759
1,076.866 (16%) 3,439,424
REPORT—Year
1919
1918
1917
1916
Balance,
Surplus.
$ 913,633
3.138,604
2,722.662
2.072,765
OFFICERS.—Pres., C. O. Dula; V.-P. & Treas., T. T. Anderson;
V.-P's, W. W. Flowers, E. B. McDonald, C. 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,
12 Fifth Ave., N. Y.—(V. 109,
p.
2176; V. 110,
p.
868, 876, 1093.)
LIMA LOCOMOTIVE WORKS. INC. (VA.)—V. 106. p. 194,
LINDSAY LIGHT CO., CHICAGO.—(V. 110, p. 171, 366.
LOEWS
ware
INCORPORATED.—ORGANIZATION.—Incorp.
October
18
1919
to
take
over
the business
of Loew's
1348.
664.)
in Dela¬
Theatrical
Enterprises (incorp. under N. Y. laws on April 17 1911).
Through the
latter company it controls: In fee, 5 theatres; 100% stock ownersnip, 19
subsidiaries; 55%-80% stock ownership, 7 subsidiaries; 50% stock owner¬
ship, 3 corporations; 24%-45%, 6 corporations; and shareholdings in 5
corporations, of which 3 are Canadian corporations.
In Jan. 1920 con¬
trolled about 71 operating theatres, having a total seating capacity of
104,465, and had 6 additional under construction
For recent acquisitions
see V. 109, p. 1896.
See full statement in V. 109, p. 1992.
Acquisition of
Metro Film Corp., V. 110, p. 171.
Earnings for period from Sept. 1 to
Nov. 30 1919 as follows: Gross income, $2,885,123; net income, $941,204;
depreciation, $49,324; reserve for Fed. taxes (est.), $222,970; net profits,
$668,910; parent company's share of net profits, $531,421.
CAPITAL STOCK.—Autn. 4,000,000 shares; outstanding 700,000 shares
of no par value.
amount
Initial div. of 50c. per share paid Feb. 1
paid May 1
1920.
1920; Same
INDUSTRIAL STOCKS AND BONDS
190
Loft
Par
Amount
Rate
When
Value
Outstanding
%
Payable
None
$100
650,000 shs
$4,599,700
7 in 1919
100
2.0O0.000
Inc—Stock 650,000 shares
Loo»e-W ilcs Biscuit Co —1st pre! (p & d) 7% cum re<l 120-Second pref (a & d) 7% oum $2,000,000 oonv Into common
100
50
Ac
100
Lou.das&Elec.Co.—Pref.stock 6% cum $25.000,000red 116
Louisv Q&ECo (of Ky)—Louiav. L'tlng Co 1st M gold.xc*
L. G. & Elecof Ky 1st & Ref M g call (see text) HGxxxc*
Do
Gen M bonds $3,784,000 pledged for Bond Sec notesDo
Bond secured notes $3,750,000 g call (see text) Gxxx*.
Lukens Steel Co—Common stock $16,398,800
McCrory Stores Corp—Common autnorized $5.000,000..
Pref stock 7% cum authorized $1,250.000
Mackay C* napanles (The)—Common shares $50,000,000
Pref (a & d> t % cum $50,000,000 auth red 106
1.000
500 Ac
1903
1918
1918
1918
"lOO
&c
50
100
100
100
auth
100
DIRECTORS.—David Bernstein (Treas.), C. E. Danforth (V.-P.)»
D. Gibson, Joseph P. Knapp, Marcus Loew (Pres.),
Loew (V.-P.), James H. Perkins, Daniel E. Pomeroy, N. M.
Schenck (V.-P.), Lee Shubert.—(V. 110, p. 974, 1531.)
W. O. Durant, Harvey
David L.
INC.—ORGANIZATION.—Incorp. in Deleware Sept. 24 1919
of the same name incorporated in Virginia in
and succeeded to a company
1916 (V. 103, p. 1795).
Business, manufacture and distribution of candy,
confectionery, sugar, soda water, syrups and other substances and com¬
modities, and in owning and operating lunch counters and shops for the
sale of candy and ice cream.
Owns two factories and operates 17 retai
stores in N. Y. City and Newark.
A third factory is under construction,
EARNINGS.—5 mos. ended Dec. 31 1919: Net sales, $3,069,364;
profitj
$845,673; reserve for Fed. taxes, $243,505; net profits, $602,168.
12 mos
ended Dec. 31 1919 (oper. of new co. for 5 mos. and old co. for 7 mos.):
Net sales, $6,049,389; profits, $1,655,543; reserve for Fed. taxes, $508,679
net profits, $1,146,864.
OFFICERS.—Geo. W. Loft, Chairman; Chas. B. Underbill, Pres.; J. II.
Carl, G. L. Loft, V.-P.; J. R. Haas, Treas.; D. O. Kennedy, Sec.; T. F.
Flynn, Asst. Treas. & Asst. Sec.
Directors.—C. B. Underbill, J. H. Carl,
J. R. Haas, P. Hungeimann, S. S. Menkin, G. L. Loft, G. W. Loft, N. J.
Miller,
B.
Lissberger,
H. F. Sinclair, New York; Frank Steinhart,
Havana, Cuba.—(V. 110, p
966, 989.)
LONE STAR GAS CO., DALLAS, TEX.—(V. 110,
pi 266,1093.
1531?
LOOSE-WILES BISCUIT CO.—ORGANIZATION.—Incorp. In N. Y.
May 4 1912.
Operates large factories in Boston, Chicago, St. Louis, Kan¬
sas
City, Minneapolis, Omaha and Dallas.
Long Island City, N. Y.,
factory in full operation since about Sept. 1914.
V. 96. *>. 65, 356; V. 98,
p. 1069.
Also manufactures candy.
V. 94, p. 1320.
STOCK.—Com. stock ($8,000,000) was In
a
voting trust extending to
May 8 1917, but extended as to a majority until May 8 1922, with right to
Voting trustees, Jacob L. Loose, C. Lewis and
terminate vested in 75%.
Joseph 8. Loose.
V. 104, p. 1903; V. 94, p. 1768.
quar. July 1912 to Apr. 1 1920;
pref., Aug. 1912 to Feb. 1915, 1%% quar.; none thereafter until
May 1920 when 5K% was paid on accumulated dividends. V. 110, p. 1647.
V. 106, p. 933; V. 104, p. 861; V. 100, p. 646, 905.
DIVIDENDS.—On first pref., \K%
On 2d
REPORT.—Report for cal. year 1919, in V. 110, p. 870, showed:
1st Pref.
Balance,
Total
Net
Dividends.
Income.
Earnings.
Surplus.
$325,481
*$1,811,088
*$2,136,569
$344,050
♦$709,172
1918
*$1,053,222
344,050
1,178,354
1917
>$2,062,361
*1,522,404
344,050
559,650
1916
1,057,994
903,700
*After providing for war taxes.
R. W. Castle.
Office,
Chairman, J. L. Loose; Pres., B. L. Hupp; Sec
Calendar
Year—
1919
-
—
(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 Amerioan Tobacco Co.
sey
V. 93, p.
factories.
1122-24), certain of Its plug, smoking, cigarette and little olgar
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 $403,900
pref. stook of the former P Lorillard Co. at the rate of $114 25 per $100
share of the old stock.
V. 94, p. 70. 120.
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. 10 as a 20% stock div. to common stockholders In lieu of the usual
increasing the amount
outstanding to $24,248,900.
See circular,
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.
Proceeds will increase
the working capital necessary to meet the Increases in prices of raw material
and in the volume of the business of the company.
Stockholders of record April 1 had the right to subscribe up to May 1
to 40,411 shares at par in the proportion of one new share for every six
'12. '13. '14. '15. *16. *17. '
10
--
10
--
10
5
10
3
12
12
5
6
'19. *20.
18.
12
12
20 stk.
are a
ment of
See
No mortgage
providing for these bonds as prior claims. See V. 94. p. 283.
REPORT.—Report for the cal. year 1919, in V. 110, p. 1081, showed:
Net
Bond
War & Exc. Pf.Divs.
Common
Balance,
Year.
Income.
Int. &c. Prof. Taxes. {7%).
Dividends.
Surplus
Cal.
1919
1918
—x6.2f2,458
1,262,082
x
791,532
2,909.586 1.279,258
9,292,825 1,268,730 2,396,230 791,532 (12)2,454,021 2,382,312
1917
>8,312,343 1,283,864 1,337,257
x After
deducting Federal taxes.
A
MAS Sept
1
7 in 1919
Q-J
6 in'1919
Q—J
4
Q—J
■■■*
Guaranty Trust Co, N Y
N Y and Chicago
1920
MAS Sept 1 1920
7 g
text See text Apr 15 1920
do
Ky
1%
IK New York
Apr 1 '20
Apr 1 20
Apr 1 '20
N Y. Canada and London
do
do
first lien on all the properties owned (subject only to $1,195,000
$10,413,000 1st Ref. M. 6s of 1913, due July 11918.
The new Issue
int. date to and incl. June 1 1920 at 103 and
is redeemable all or part on any
1104.
Outstanding amount was increased to $13,116,000.
Of the remaining bonds. $1,195,000 are reserved to retire the Louisville
Lighting 5s, apd 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 7% notes of 1917 ($3,750,000 auth. issue) of Louisville
G. & E. Co. (of Ky.), were redeemable all or part before Sept. 1 1918, at 101
and int., before Sept. 1 1919, at 100H and int., and thereafter at 100 and
Int.. upon 30 daysf notice, to be secured at all times by deposit of General
Mtge. 6% bonds in a principal amount of 133 1-3% of the par value of
notes outstanding. -V. 106, p. 1039. 1131. 1235: V. 108. p. 273.
p.
EARNINGS.—For year ended Dec. 31 1919, gross, $3,594,345: net,
$1,820,430.
For 1918, gross, $3,176,478; net, $1,642,677; interest, $978,346; bal., sur., $664,331.
In 1917, gross, $2,838,589; net, $1,525,084
OFFICERS.—Pres., Arthur S. Huey; V.-P. & Gen. Mgr., Donald MacDonald; Sec. & Treas., T. B. Wilson.—(V. 110, p. 664.)
LUKENS STEEL CO., COATESVILLE, PA.—ORGANIZATION.—
Incorp. in Penna. In 1917 to acquire all the capital stock and ultimately,
the entire property, &c.. of Lukens Iron & Steel Oo. (established In 1810)
free and clear except for current accounts (V. 92, p. 1314).
Specializes
in marine and locomotive boiler plates.
Capacity about 450,000 tons per
V. 103.
p. 2433; V. 105, p. 2369; V. 108, p. 884.
Owns entire
capital stock of Allegheny Ore & Iron Co., with iron mines in Virginia and
(75,000 tons annual capacity).
Pres., A, F. Huston, Coatesville, Pa.—(V. 107, p. 1388, 2480; V. 108, p.
884.)
annum.
blast furnaces
McCRORY
STORES
CORP.—ORGANIZATION.—Incorporated
May 1915 in Del., successor of J. G. McOrory Oo.
chain of 150 5 and
in
Owns and operates a
10-cent stores in the Eastern and Southern States
STOCK.—Auth. and outstanding, $5,000,000 common and $1,124,600
7% cum. pref. stock.
Par, $100.
Surplus of $250,000 must be maintained
prior to common dividends, none to exceed 4% until surplus is $500,000Preferred has preference as to dividends and assets at 110, and
£rovision is divs. V. 100, p. 1750. after Jan. 1 paid on pref. stock,exceed110 and made for redemption
Dividends 1917 at price not
l%%
ig
quar. to and Incl. Apr. 1 1920.
The company Itself In Dec. 1919
of store
had no bonded debt, but 10 of the pieces
property occupied by the company were in 1915 transferred to
William J. Fallon, who executed thereon an issue of $700,000 1st M. 0%
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.l35
Bills payable. Dec. 31 1919, $888,755.
REPORT.—For year ending Dec. 31
Sales and Net Profits, Except Interest on
Year—
1919.
1918.
1917.
1916.
1915.
Not stated
164 Not stated
137
115
$11,487,045 $9,607,250 $7,831,509 $6,787,117 $5,613,987
$464,208
~
Netprofits
Sales—
1919, V. 110, p. 974.
Debt Retired by Financing in 1915.
$347,114
$321,747
$422,148
$352,196
1919.
1920.
$1,128,943
4 months
$968,300
3,964,504
April
3,278,977
OFFICERS.—Pres., J. G. McOrory; V.-Pres., J. EL McOullough; P. A.
Prior, Van C. McOrory: Treas.. F. D. Jolly: Sec.. B. H. Stenzel.
N. Y
office, 621 Broadway.—(V. 109, p. 482, 1278; V. 110, |p. 267, 769, 974,
1084, 1093.)
(W. H.) McELWAIN CO.—V. 110, p. 82.
171, 266. 974, 1419.)
1268, 1278 2627, 2634;
MacANDREWS & FORBES CO.—(V. 108, p.
V. 109, p.
,
2361; V. 1J0, p. 2081, 2197.
MACKAY
COMPANIES
(THE).—ORGANIZATION.—A voluntary
and managed by 11
association formed under trust deed of Dec. 19 1903
trustees, elected annually.
Present trustees are: Clarence H. Mack ay,
W. W. Cook. George G. Ward, Edward O. Piatt. George Clapperton.
M. W. Blackmar, Charles H. Sabin, Lewis L. Clarke, William J. Deegan
(New York), Sir Edmund B. Osier (Toronto), Sir Thomas Skinner (London,
Eng.), and Right Hon. Lord Shaughnessy, K.C.V.O. (Montreal).
Owns
entire $25,000,000 stock of Commercial Cabl3 Co. and the entire capital of
the Postal Telegraph system; also capital stock in other cable, telegraph and
791,532 (18)2,728.000 2,171.682
OFFICERS.—Pre3.< T. J. Maloney; Sec. and Treas., W.
Office, Jersey City, N. J.—(V. 110, p. 769, 876, 1081, 1093.)
B. Rhett.
LOUISVILLE GAS & ELECTRIC CO.—ORGANIZATION.—Incor¬
porated in Delaware Feb. 17 1913.
Operates and controls all of the gaa,
electrlo-llght (Including suburbs), power and steam-heat properties In th«
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 Bhares) and bonds of Kentucky Pips Line Co., owning pipe line
for natural gas from the West Va.-Ky. State line to Louisville, about
200 miles, capacity 12.000,000 ou. ft. daily.
Also controls through stock
ownership Kentucky Coke Oo.
Controlled by Standard Gas & Klec. Oo.
In conjunction with Mississippi Val. Gas & Else. Oo.
V. 97. p. 54. 179,
526. 1507; V. 105. p. 1714.
City suit, V. 107. p. 1007.
Violationj>f fran¬
chise, V. 108, p. 2128.
STOOK.—Auth., $8,000,000 common and $25,000,000 6% cum. pref.
(red. at 115); outstanding, common, $6,448,900; par, $100.
V. 97, p. 526.
In Nov. 1919 the authorized issue of preferred stock was increased from
J
do
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.
text
regularly in cash 3% quar., April 1910 to Apr. 1920, inclusive.
BONDS.—The rlghta of the 7s are prior to those of the 5s.
without
Fid A Col Tr Co. Louisv
New York and Chicago
A
2148; V. 100, p. 1441.
Ky.
held.
Paid
Louisville,
O Apr
1
D June 1 1923
A
Louisville Lighting 5s) and also the Pipe Line property through the deposit
with the trustee or $3,000,000 1st M. bonds ana $2,000,000 stock of the Pipe
Line Oo.
The initial $10,500,000 was sold in June 1918 to provide for retire¬
V. 107, p. 606, 610. ,
The stockholders on
Extra.
A Aug
1 1951
Dec 1 *
Q—M
text
V
O Oct
A
F
5 g
See
A
A
BONDS.—First and Ref. M. 5-year 7s of Louisville Gas & Elec. Oo. ol
Sales
Regular
do
1 1920 3% New York Trust Co, N Y
do
1 1920 IK
1 1944
Guaranty Trust Co. N Y
•
p.
No. of stores
COMMON DIV.-
Q—J
7 g
5 g
See
Apr
Apr
$15,000,000, and on Nov. 6 $2,000,000 of the new etock was offered at
(increasing the outstanding issue, when all sold, to $12,907,000) to
provide for retirement of the outstanding bonds and coupon notes and for
construction, &c.
V. 109, p. 1896.
to and incl. Dec. 1914.
In 1915,
1K %
From March 1916 to Dec.
subscribe for 33 1-3% ($6,058,240) new common stock at par until Aug. 29,
shares
Q—J
par
?:tra dividend in cash payable annually onAug. 9 (in 1917 6%, and in 1916
%).
Common shareholders of record
Apr. 1 1918 were permitted to
thus
Checks mailed
IK
May 1 1920 5K
-
City,iMo.—(V. 109. p. 2269; V. 110, p.1870, 876, 1647.)
Kansas
10.271.400
10,617.450
10,907,000
1,195,000
13.116.000
Pledged
2,879,000
15.898,800
5,000,000
1,124,600
41,380,400
50.000,000
&c
60
Places Where Interest and
Dividends are Payable
Maturity
Apr 1 1920
30,311,200 12 in *19
11.307,600 7 in 1919
100
1911
1911
and
8,000,000
100
Common stock
oriiiard (P) Co—Common stock 130,311,200
Pref stock (a & d) 7% cum $11,307,600
Gold bonds (not mortgage) $10,933,600 auth
G.xc*&r*>
do
do
do
do
10,617,450 auth.>_(l.xc*&r1
LOFT
Last Dividend
Date
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on first page]
[VOL. 110.
2762.
In Sept. 1919 arrangements were proceeding for the laying of a
American cable to Japan, &c.
V. 109. p. 1278.
Proposed extensions,
improvements, &c., see annual report In V. 110. p. 870.
Increased rates. V. 108. p. 1392, 2334.
On July 31 1919 the Government surrendered control of all the telegraph,
mcable 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.)
p.
new
DIVIDENDS.— (1906.
On
common
%\
3
1907-10. 1910-16.
4 yearly 5 yearly
'17.
5K
REPORT.—Year ending Feb. 1 1920, in V.
Feb. 1 Years—
1919-20.
1918-19.
Receipts
$5,021,095
Oper. exp., Fed. tax., &c_
644,884
Preferred dividends (4%) 2,000,000
Common divs. (5M%)— 2,355,988
Balance, surplus
$20,223
*18.
6
'19.
1920.
6
lH.lM.-t-
110, p. 769:
• 1917-18.
$4,695,496
301,121
2,000,000
2,388,677
$5,698
$4,519,365
89,059
1916-17.
$4,683,265
56,799
2.000.000
2,000,000
2,425,198 (5)2.069,020
$5,108
$557,446
INDUSTRIAL STOCKS AND BONDS
MAY, iy^O.]
MISCELLANEOUS COMPANIES
Date
Par
Amount
Rate
When
[For abbreviations, &esee notes on first page1
Bonds
Value
Outstanding
%
Payable
None
$86,000
2.000,000
58,675.500
8.851,000
Madison Tire & Rubber—Com 120,000 shares
--Preferred (a & d) 8% cum cony s f call 125 auth $2,00 0,000
Magnolia Petroleum Co—Stock $60,000,000
Co
1st M $10,000,000 sink fund call par
Col.zzc*
Manati Sugar Co—Common stock
Preferred (a & d) 7% cum call 120
Manhattan Shirt Co—Common stock $5.000.000
Pref stock (a & d) 7% cum red 120
<Manufacturers Light & Heat—Stock $25.000,00u
Mortgage due part yearly Oct 1
(red) —
CbPtx
Maracaibo Oil Exploration Corp—Stock 250,000 shares _
Mark Mfg Co—See Steel & Tube Co of America
Marland Refining—Stock $25,000,000
$100
100
1912
-
100
50
None
from the subordinate
companies for extensions and the development of the business and the in¬
of reserves.)
Office, 112 State St.. Boston.
OFFICERS.—Pres., Charenco H. Mackay; V.-P., Geo. G. Ward;
Treas., Edw. C. Piatt; Sec., Wm. J. Deegan.—(V. 110, p. 870,2081.)
MADISON
TIRE
&
RUBBER
CO.,
INC.—ORGANIZATION.—
Incorp. Aug. 13 1919 in New York to manufacture high-grade cord and
pneumatic automobile tire, tubes, &c.
Acquired the facilities of
U. S. Rubber Reclaiming Co., Inc., established in 1881.
Plant at Buffalo,
N. v., has a daily capacity of 1,2uu tires and z.OOO tubes, total floor space
230,000 sq. ft.
CAPITAL 8TOCK.—Pref. Is callable at 125 and div. on 60 days notice;
convertible at any time until July 1 1929 into the Common stock share for
share.
A cumulative sinking fund of 3% of the outstanding Pref. stock
begins July 1 1922.
No mortgage without consent of 54 of the outstanding
Pref. stock.—V. 109. p. 683. 892.
DIVIDENDS.—An initial quarterly dividend of 2% on pref. stock was
paid Jan. 2 1920; same amount was paid in April 1920.
OFFICERS.—President, Rudolph A. Low; Vice-President, Theo. W.
Bassett; Secretary, Clarence H. Low; Treasurer, Max Loewenthal.—V. 109,
P. 683. 892.
fabric
MAGMA COPPER CO.—(V. 108, p. 1825, 2026, 2532; V. 110, p. 1977.)
CO.—ORGANIZATION.—A joint stock
association (unincorporated) organized on April 24 1911 under laws of
Texas.
Owns and controls oil wells in Texas, Oklahoma, Kansas and
Ark., having in 1919 a production of about 25,000 to 30,000 bbls. of crude
oil daily, with refineries located at Beaumont, Fort Worth and Corsicana.
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, making $58,675,500 outstanding.
V. 109, p. 77, 177.
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 competi¬
tion.
V. 106, p. 504, 1799.
Dividends.—In March 1914 a stock dividend of 100% was paid, and In
Jan. 1915 a stock div. of 25% casb dividends: In 1915, 4%;
1916. 6%;
1917, 6%; 1918. Jan. and April, 154% each: July 1918 to Apr. 1920, paid
quar. 1U % and a special div. of 53 of 1% (V. 109, p. 683).
6% gold bonds, authorized, $10,000,000: out¬
1920, $8,851,000; canceled by sinking fund to Dec. 31
mtge.
Deprec n and depletion, f
(13,921,782
Bond, &c., interest.____•(42,778,684{
971,248
[
deductions
Dividends
3,813,726
(6%)
2,773,407
2,729,465
$14,316,198
2,888,893
785.653
*6,675,065
1.974,265
748,157
820,898
1,200,000
1,320,000
SUGAR CO.—ORGANIZATION.—Organized under laws of
April 30 1912.
Engaged in the business of owning and operating
and factory In the island of Cuba, in the growing of sugar
cane, in the manufacturing of raw sugar therefrom, and in the sale of such
sugar.
Owns and controls 136,800 acres of land, of which 45,066 acres are
MANATI
New York,
sugar estate
planted in
cane.
CAPITAL STOCK.—Auth. and outstanding, $3,500,000 7% cumulative
(a. & d.) and $10,000,000 com.
Par value, $100.
Pref. stock is
redeemable at 120 and accrued divs., and has equal voting power with com.
Announced in May 1920 that the company proposed to increase
pref.
stock.
its pref. stock from $3,500,000 to $5,000,000 and its common stock from
$10,000,000 to $15,000,000.
■
DIVIDENDS.—Beginning April 1 1915, the company has paid regularly
quarterly dividends on the pref. stock ta the rate of 7% per annum.
On
common, paid 254% quar., Dec. 1 1917 to June 1 1920 also extra divs. as
follows: Nov. 8 1916, 20% in com. stock Sept. 8 1919, 253% in cash and
5% in com. stock.
REPORT.—Year ended Oct 31 1919: Sales, $9,343,352; miscellaneous
income, $201,914; expenses, $7,007,604; profit on operations, $2,537,661;
deductions, $1,304,563; net profit, $1,233,097; preferred divs., $234,500;
common divs., $532,270; surplus for year, $466,327.
,
,
OFFICERS.—Regino Truffln, Pres.; Manuel Riondo, Frederick Strauss.
Alfred Jaretzki, Wm. P. Phillips, E. D. de Ulzurrun and Higinio Fanjul,
Vice-Presidents; Manuel E. Rionda, Treas.; M. R. Angulo, Sec.
N. Y.
office, 112 Wall St.—(V. 110, p. 1753, 2197.)
MANHATTAN
ELECTRICAL
CO.—(V.
SUPPLY
109,
p.
1992; V
OIL CO.—V.
109, p.
1530.
In
of same name.
Manufactures men's shirts, collars, underwear, pajamas, Ac.
Application
to list showing properties owned, rights of stock. Ac.. V. 100. p. 405.
STOCK.—Total pref. stock Issued $3,000,000; amount redeemed to
Dec. 1918. $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. 405.
DIVIDENDS %.—
common
do
Apr 1 20 154
Apr 15 1920 2 %
Q— J
Q—J
A
O Oct
&
1
1920
do
Checks mailed
PIttsb, Colonial Trust Co
New
10
Q—J
Aprl5 '20 254%
text
See text
Bankers Tr Co, N Y
REPORT.—Report for year ending Nov. 29 1919, in V.
110, p. 259,
$526,000; pref. divs. (7%), $112,000; com. divs., $312,501; bal., sur.,
$700,802.
Pres., Abram L. Leeds; Treas., Silas Thomas; Sec., L. 0. Leeds.
Office,
242 Madison Ave., N. Y.—(V. 110, p. 259, 471.)
(THE) MANUFACTURERS LIGHT & HEAT CO., PITTSBURGH.
—ORGANIZATION.—Incorp- in Pennsylvania on Nov. 28 1899; reincorp.
in Penn., W. Va., Ohio, Ky., Kan., Ark., Tex. and La., of which 132,029
were operated and 240,382 unoperated.
V. 88, p. 503; V. 90. p. 1428;
V. 92, p. 524; V. 91, p. 1633, 217.
LATE DIVS./ 1911.
Percent
)
*12. '13. '14. '15. '16.
3
654 7H
8
8
*4
1917.
8&2ex
'18.
8
1919.
8
1920
Text
15 paid 2% regular and 2% extra; April 15, 2%.
BONDS.—Total bonded debt Oct. 1919, $428,000.
The $445,000 1st M.
In 1920: Jan.
6s due Oct. 1 1919 were
paid off.
REPORT.—Calendar year 1919, in V. 110, p.
Calendar Years—
1919.
769:
$10,987,539
7,050,544
$3,782,585
1918$9,693,573
6,166,198
$3,410,651
$260,671
$402,952
,
Gross earnings
Operating expenses and taxes
Net surplus before dividends...
Dividends..
Depreciation and depletion..
1917.
$9,122,218
5,663,208
$3,265,843
(10%)2,300,000 (8)1,840,000(10)2300,000
1,221,914
1,167,699
944,122
—
Balance, surplus
$21,721
OFFICERS.—Pres., John E. Gill. Franklin, Pa.; Sec. and Asst. Treas.,
H. E. Selbert; Treas., G. W. Ratcliffe, Pittsburgh: V.-P.. L.
J. I. Buchanan, M. B. Layton, Pittsburgh.—(V. 109, p. 583,
A. Meyran.
1084; V. 110
769.)
p.
MARACAIBO OIL EXPLORATION CORP.—ORGANIZATION.—
(See Map.)—Incorp. Sept. 6 1919 in Delaware to take over and develop ex¬
tensive lands in Venezuela, showing oil formations and seepages.
Owns all
of the capital stocks of the Mara Exploration Co., Miranda Exploration
Co., Paez Exploration Co. and Perija Exploration Co., which companies
possess Government concessions located in the Maracaibo Basin of Vene¬
zuela, totalling 750,000 acres of oil bearing land, carefully selected and ap-
{)roved by geologists. The acreage acquired in the opinionMaracaibo Basin.
ncludes
of the most potentially valuable lands in the of the geologists,
some
In addition to the holdings
referred to, the corporation has acquired options
various other areas, which are now being reported upon, totalling 125,000
acres.
Plans have been made for rapid development of the corporation's
on
properties, including Immediate drilling on two sides of the lake on areas
already recommended as especially favorable to the corporation's geolo¬
gists.
Intensive exploration of other district,. .*■ now going on.
The com¬
pany has no bonds or preferred stock.
(1915.
{
in Lib bonds.. I
*4
__
1916.
254
__
1917.
4
__
1918.
4
Dec., 2
1919.
1920.
64
Text
__
pref. stock 7% p. a. (1 x4 Q.-J) Oct. 1 1912 to Apr. 1920.
In Dec. 1918
an extra 2% was paid in 45£% Liberty bonds.
V. 107, p. 1924.
In March 1919 paid 1% on com.; June 1919 to June 1920, 1*4% quar.
The stockholders on June 10 1919 voted to reduce the par value of the com.
shares from $100 to $25.
V. 108, p.2438.
Notes payable as of May 31 1919, $1,442,000.
On
Corporation will have in its treasury $2,000,000 cash avail¬
of its properties and the acquisition of such further
advantageous to the corporation.
able for development
holdings
as may seem
DIRECTORS.—William
Wallace
Mein,
Pres.;
R.
W.
Griggs,
Pres.; W. A. Bostwick, J. W. R. Crawford, Huntington W. Jackson,
Thomson, W. D. Ticknor, R. C. Warriner, New York.—(V. 109, p.
ViceS. C.
1897,
2176.)
MARGAY OIL CORPORATION.—V. 109, p. 1466, 1530.
p.
MARCONI WIRELESS TELEGRAPH CO. OF AMERICA.—(V. 110.
664, 1531, 2081.)
See also Radio Corporation of Amercia below.
MARLAND REFINING CO.—ORGANIZATION.—Incorp. Nov. 18
1916, in Okla., with a capital of $1,000,000, but was organized In March,
1917, with a capital of $2,500,000 and took over the property and assets
of 101 Ranch Oil Co., Marland Oil Co., all the oil properties of W. H.
McFadden and E. W. Marland and acquired a large amount of undeveloped
oil and gas leases.
Owns in part or
acres
In Texas and 1,354 acres in
in full 77,512 acres in Oklahoma, 80
Kansas.
Average daily production
7,000 barrels; number of wells, 137; tank cars owned, 320.
Refining at
Ponca City.
Daily capacity 2,500 to 3,000 barrels.
Is closely allied with
Kay County Gas Co. (See above).
Full statement to the Pittsburgh
Stock Exchange in V. 109, p. 490.
Proposed merger with Kay County
Gas Co., V. 110, p. 2081.
CAPITAL.—The stock was increased from $2,500,000 to $10,000,000
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.
In Feb. 1918, of
increased to $25,000,000.
DIVIDENDS.—Divs. have been paid as
follows: Aug. and Nov. 1917,
each; Feb., June and Sept. 1918, 2H%5 Jan. 1919 to April 1920,2M%
Stock dividends have been paid as follows: May 31 1918, 40%;
July 31 1918, 10%; Dec. 31 1918, 10%; July 15 1919, 25%.
2 J4%
quar.
EARNINGS.—Net earnings, after
twelve months ended Dec. 31
depletion & depreciation &c. for the
1918:
$8,063 Apr
$26,552 July
$120,021 Oct
$174,362
Feb
21,870 May
50,007 Aug
105,293 Nov
168,836
Mar
17,509 June
70,471 Sept
144,332 Dec..— 239,702
Additional earnings from production, not distributed by months. _ 144,551
Total
CO.—ORGANIZATION.—Incorporated
SHIRT
New York June 15 1912 as successor of New Jersey company
On
J Jan
1 1937
June 1 1920 2 H
Q—M
Q—J
Apr
1 1920 1 %
June 1 1920 1
Checks mailed
Q-M
Jan
110, p. 1647.)
MANHATTAN
Apr 1 1920 2%
Apr 5'20
2% By check
&
taxes,
the Maracaibo
1916.
Balance, surplus..... $3,227,247 $12,142,271
$8,108,493
$8,620,753
On Dec. 31 1919, capital surplus totaled $67,439,793, and undivided
profits, $31,552,658.
OFFICERS.—Pres., John Sealy. Galveston; V.-Pres. & Gen. Mgr., E. R.
Brown, Dallas: Sec., Courtenay Marshall, Beaumont; Treas., W. O.
Proctor, Dallas.—(V 109, p. 683; V. 110 p. 1093, 1419, 1647.)
MANHATTAN
Where Interest and
Dividends are Payable
Places
Maturity
showed total net income, $1,651,303; reserve for Income and excess profits
•
a
and
WORKING CAPITAL.—With the completion of the present financing,
REPORT.—For 1919, in V. 110. p. 1419, 1647. showed:
1919.
1918.
1917.
Total profits..
$49,819,657 $32,538,173 $18,825,980
Other
6
68,145 shres See
PETROLEUM
standing Jan. 1
1919, $1,149 000.
7
See text
crease
BONDS.—First
10
348 000
1.000
None 250,000 sh.
Last Dividend
Q—J
Q—J 5
J
5,000,000 See text
7
1,600,000
23.000.000 8 In 1918
25
companies only enough money to meet the divs. of the Mackay Company
■hares, ail surplus earnings being left in the treasuries of the subordinate
MAGNOLIA
Sr!
See text
100
i907
8
See text
100
Marlin-Rock well Corp—Common stock 81,136 shares
(The policy of the Mackay Companies Is to obtain
1,000
191
-7._
$1,291,569
and March 1919, after deducting operating
before deducting depreciation, depletion.
Income & war taxes and new development, was $602,110.
Current gross
earnings are about $500,000 per month.
DIRECTORS.—E.
W. Marland (Pres.), W. H. McFaden (V.-P.),
J. S. Alcorn (V.-P.), Samuel C. Collins, W. K. Moore, A. L. Bogan (Sec.Treas.), Ponca City, Okla.; O. D. Darrigrand, Wichita, Kan.; Louis J.
Nicolaus, W. G. Lackey, St. Louis, Mo.; John E. 8tevenson, "Wheeling,
W. Va. and J. D. Callery, Pittsburgh, Pa.
Office, Ponca City.—(V. 110,
p. 82.)
Net earnings for Jan., Feb.
and
overhead
expenses
and
MARLIN-ROCKWELL CORP.—ORGANIZATION.—Incorp. In New
Corp.
Name changed as above March
Property Includes (V. 107, p. 1383, 1104): (a) Marlin plant at New
Haven, Conn.; (b) Norwich, Conn., plant, formerly owned by Hopkins &
Allen Arms Co., acquired during 1918; (c) Hamden plant at New Haven;
(d) Philadelphia plant for manufacture of roller bearings, formerly of
Standard Roller Bearing Co.; (e) Plainville. Conn., ball and roller bearing
York Dec. 8 1915 as Marlin Arms
1917.
INDUSTRIAL STOCKS AND BONDS
192
MAP
SHOWING
OF
CONCESSIONS
THE
MARACAIBO
OIL
EXPLORATION
CORPORATION
jVoi,.
INDUSTRIAL
•May, 1920.]
,
see notes on
Par
Amount
Rate
When
Toast
Dividend
Outstanding
%
Payable
and
Maturity
None
100,000 sh.
$100 $25,000,000 See
100
OB
Sinking; fund gold bonds redeemable at 105
OB.*o*&r
Debentures gold red 105
----OB.*
Massachusetts Oil Refining—Com stock $5,000,000
7% cum participating Pref stock $5,000,000 auth
Conv 10-yr g bonds 7% partic call 120 $5,000,000 auOBc*
Mathieson Alkali—Common stock $0,500,000—
—
1909
1919
50
100
100
100
1918
None
100
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; (7i) Plant of
Richmond Radiator Co., Phila.
V. 107, p. 909.
Pull official statement as
to status under peace conditions, V. 107, p. 1845.
1
1917
were
all retired by conversion or otherwise.
STOCK.—Common, 81,136 shares, no par value., viz.: Oct. 22 1918,
outstanding, 68,145; reserved for conversion of notes, 12,991 shares.
No
1918.
Voting trust was extended in March 1917 till
beyond March 14 1922.
Voting trustees, O. B. Willcox, A. P. 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.
divs. on com. to Oct.
DIVIDEND.—A dividend of $6 was declared in Nov. last, payable $1
each Nov. and Dec. 11 1918, and Jan., Feb., March and April 11 1919
respectively;; in May and June also paid $1; July, none.
V. 109,
p.
1787
EARNINGS.—For cal. year 1917 and 6 mos. of 1918, V. 107, p. 1383
1845, 1383.
Balance sheet Dec. 31 1918, V. 108,
Sales.
Net Inc.
Year 1917~$12,525,296
6 mos.1918-
p.
2634.
Oth.Inc.WarTax.P.&L.Ch.
$2,226,540 $12,884 $700,000 $564,921
2,989,088
35.208
(?)
13.252,301
Net Prof.
$974,503
3,024,296
OFFICERS.—Chairman, A. F. Rockwell; Pres., D. C. Roper; V.-Pres.,
T. O. Fogel; Treas., II. R. Tobey; Sec., Albert
Newcombe.
N. Y. office,
347 Madison Ave.o—(V. 110, p. 1531.)
MARTIN-PARRY CORP.—ORGANIZATION.—Incorp. in Delawar6
May 26 1919 and has acquired Martin Truck & Body Corp., York, Pa.
and Parry Manufacturing Co., of Indianapolis.
Manufacturers of com
mercial automobile bodies.
Plants at York and Indianapolis have a com¬
bined output of 60,000 bodies annually.
Plans were approved in Jan. 1920
for doubling the capacity of the company's plants.
V. 110, p. 471.
In
Apr. 1920 the truck business was taken over by the Atlas Truck Corp., a
new corporation, stockholders being given the privilege of subscribing to
25,000 shares of the latter company's stock at $5 a share.
V. 110, p. 1647.
DIVIDENDS.—Initial quar. div. of 50 cents per share was
1920; same amount paid June 1 1920.
paid Mar. 1
EARNINGS.—Profit and loss account for the three months ended Sept-
30 of the Indianapolis plant and the two mos. ended Sept. 30 of the
plant shows sales $850,626; net salas, $840,606;
net profits after interest, &c., $134,969.
DIRECTORS.—J.
J.
Watson
gross
York
profits, $238,639;
Chairman; F. M. Small. Pres.
Robert I. Barr, Walter R. Herrick, S. C. Parry, James F. Shaw, Guy E.
Tripp, George II. Walbridge and W. T. Dewart.
The Sec. is Henry flopkins, Jr., and Treas., J. J. Gitlinan.—(V. 110, p. 471, 974.)
Jr.,
MASSACHUSETTS OAS COMPANIES.—ORGANIZATION.—A vol¬
association formed in Oct. 1902, per plan in V. 74, p. 1311.
Boston
Gas Co. operates gas generating plants at Everett. Commercial
untary
Consol.
Point, Calf Pasture
A Us ton. &c.
Gas is sold and distributed for con¬
sumption in Boston and suburbs; amount sold for year ending Dec. 31 1919,
6,305,587,000 cu. ft., a decrease of §.28%, compared with the output of
the previous year.
The Massachusetts Gas Companies own $15,111,600
of tbe $15,124,600 stock of Boston Consol. Gas Co.; also the $25,000,000
capital stock of the New England Fuel & Transportation Co. called 6%
notes (see V. 109, p. 1705), $575,000 East Boston Gas Co., entire $560,000
capital stock of Newton & Watertown Gas Light Co., &c.
V. 100, p. 1575,
1690; V. 108, p. 274.
Wages, V. 107, p. 1750.
Rates, V. 110, p. 1091.
Citizens* Gas Light Co. of Quincy, Mass., was acquired In 1906.
Slidlngscale gas law, see V. 101, p. 1268; V. 82, p. 1270.
Boston Consol. Gas Co.
July I 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.
V. 107,
p. 1672, 1921; V. 105, p. 2277.
Note issue. V. 110, p. 661.
Effective June 30 1917, the New England Fuel 6c Transportation Co. (of
Mass.), whose capital stock is all owned by the Massachusetts Gas Cos
took over all the property of the New England Gas 6c Coke Co., Boston
Tow Boat Co. and Federal Coal & Coke Co.; andthecapltal stock and all
the property of New England Coal & Coke Co. (except business of purchas¬
ing and selling of coal); also the 2,000 shares of J. B. B. Coal Co. stock.
V. 105, P. 2189, 2003, 612; V. 104. p. 2122; V. 99, p. 1455; V. 93. p. 232.
The New England Mfg. Co., the munition co., 47*4 % of whose $250,000
stock is owned by Mass. Gas Cos., just prior to Oct. l 1916 completed pay¬
ing for its plant out of profits and from Nov. 1916 to Feb. 1917 paid four
monthly dividends aggregating 256%.
V. 104, p. 1049.
This company s
affairs in April 1919 were in the process of liquidation, due to the cessation
Beacon Oil Co was organized early In 1919 with a capital of $2,500,000 to
enable the Massachusetts Gas Co. s owning stock control to enter the oil
refining business.
V. 108, p. 2334.
Beacon Coal 6c Export Corp. was
organized in Dec. 1919 with $1,000,000 capital stock, 45% of which is
owned by Mass. Gas Cos.
V. 110, p. 169.
DIVS.—11907 to 1910/11 6c*12. 1913. *14. *15. *10 *17
1917 to May'20
3 yearly
4 yearly. 4*4.
5
5
5 text.
1*4% Q-F
$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, *4 of 1% July 16 1917.
Onoom.%;
fund of $120,000
No mortgage or pledge
the bonds, V. 88, p
104, 101.
Debentures, see V. 93, p. 1071; V. 94, p. 283.
In Dec. 1917 Boston Consol. Gas Co. paid dividend of 1 *4 %. against 2%
In Sept. (and East Boston Gas Co. nil, against 2*4% in Sept. 1917).
BONDS.—The $6,000,000 4 *4s of 1909 have a sinking
per annum
of assets
for first 5
can
be
years and $180,000 thereafter.
made without
equally securing
REPORT.—For calendar year 1919, V. 110, p. 1531.
Period
Covered—
Total
Int.,&c.,
Preferred
Common
Balance,
Dividends.
Surplus.
'
$
$
Yr.toDec.31.19.3,412,234 565,176 (4%)1,000.000 (7%)1,750,000
150,676
Yr.toDec.31'18.3,330,496 770,293 (4%)1,000.000 (7%)1.166,667 393,536
6
mos.
ending
Dec. 31 1917.1,702,634345,258 (2%)
500,000
§57,376
Yr.toJune30'17.3,784,330557,088 (4%)1,000,000
(7*4)1.875,000 352,243
Income.
$
Charges.
$
Dividends.
$
OFFICERS.—Pres., James L. Richards; Treas., E. M. Richards; Sec.,
Office, Minot Bldg., Boston.
Old Colony Trust Co., Transfer
Agent and Registrar.
A. 3. Bull.
&
&
Where Interest and
Dividends are Payable
50c.
May 1 *20 1*4% Ola Colony Tr Co, Boston
D June 1 '20 2%
J Jan
1 1929
D Deo 1 1931
&
g J
Places
do
do
Boston, Mass
Old Colony Tr Co.
None
100
—
Q—F
g J
4*4
4*4
4,000.000
5,000,000
100 &c
—
notes dated March
4.665.000
1,000
1,000
100
$3,500,000
Maxwell Motor Co, Inc—Common stock $13,000,000—
1st pref (a & d) 7% cum red 105. $13,471,500
Second preferred (a & d) 6% non-cumulative,$11,000,000.
1st pref dividend certificates, call at par
-Var
Capitalization Proposed under Merger Plan—
Common stock 800,000 shares no par
Pref (a & d) stock 7% cum $3,150,000 call 110 sk fd—
Gold notes $10,000,000 g call (text)s f conv into com stk.xxx
June 1 '20
text
25.000,000 4 In 1919 J
100
1911
Preferred (a & d) stock cum 7%
unsecured
193
Value
Martin-Parry Corp—Stock auth 100,000 shares
6%
BONDS
Date
first page]
Massachusetts (las Companies—Common stock
Preferred (a & d) 4% cum $25,000,000
NOTES.—The 2-year
AND
Bonos
MISCELLAXEOUS
C0MPANIE3
[For abbreviations, &c
STOCKS
J
&
3,000,000
J
7 «
text
Q—J
7
3.076.900
Q-J 15
12,805.158 See text
13,133.336 See text
QW
7
10.127,468
700,173
7
Seml-an.
o
5,885.700 See
800,000 sh.
$3,150,000
10,000,000
7g
Oct 1 1929
Jan
Y
and
Boston
2
'19. 1*4
1
'20, lH
July2 '17 2*4% New York
Apr
See text
July 2
Var.
Checks mailed
17 1*4% New York
1920
Semi-an.
TRUSTEES.—Robt. Winsor,
N
Bost
1929
Chairman,
Charles
F.
Adams,
Walter
0. Baylies, Samuel Carr. Joseph B. Russell, Frederic E.
Snow, Edwin S.
Webster,.James L. Richards, Charles S. Davis, H. Wendell Endicott.
—(V.
t
lltf,
p.
172.
664,
MASSACHUSETTS
1531.)
OIL
REFINING
CO.—ORGANIZATION.—
Incorp. in Nov. 1919 in Virginia, to engage in refining, transporting and
marketing of petroleum and its products. Has under construction at Boston
Harbor a refinery of 1,400,000 barrels of crude oil per annum.
Is closely
allied with Island Oil & Transport Corp., which owns a
majority of the Com¬
mon
stock.
V. 109, p. 1797.
BONDS.!-'The
bonds are redeemable on any int. date on 30 days
notice at 120 and int., but convertible during said period.
Annual Sinking
Fund of a sum equal to 10% of net earnings for the
previous year to be ap¬
plied to the purchase or to the drawing of bonds by lot at 120 and int.
Upon the retirement of all bonds (by purchase or conversion) the 10% sink¬
ing fund will be applied to the purchase of Preferred stock at not exceeding
125 and div. Convertible at any time $ for $ into 7% Cumulative & Par¬
ticipating Pref. stock.
in the
same
earnings
as
This Pref. stock is entitled to participation (20%)
the bonds, and is callable
as a
whole
at
125%.
The
company covenants that each year it will set aside 20% of the net earnings
(after deducting bond interest, taxes, Pref. stock divs. and sinking fund
requirements) for the previous calendar year, which amounts is to be dis¬
tributed to holders of the bonds
(and for Pref. stock issued for same)
in pro rata payments on July 1—in addition to the fixed int. (or
dividend)
at the rate of 7% p. a.
President, W. O. Robinson.—(V. 109, p. 1797).
MATHIESON ALKALI WORKS (INC.).—ORGANIZATION.—In¬
corp. in Va. in 1892 and manufactures soda ash, caustic soda, bicarbonate of
soda, &c.
Total output 1917 about 150,000 tons.
In July 1917 merged
the Castner Electrolytic Alkali Co., all stock previously owned.
Capital stock, see table on a preceding page.
(See offering, V. 104, p.
261.)
No bonded debt.
REPORT.—For year ending June 30 1919, V. 109, p. 886;
quarter ended
Mar. 31 1920, in V. 110, p. 2197.
1918-19.
1917-18. I
Profit
$943,962 $1,225,4801 Pf. divs. (7%)
Deduct—Plant
439,023 Cm.divs.(3%)
...
173,7501 BaL.sur.
Liberty Loan.
for
DIVIDENDS.—On the pref. at rate of 7%
Apr. 1919 div.
on com.
passed.
yr
1918-19.
1917-18.
215,383
176,571
552,008
215,383
353,142
44,182
yearly, since organization.
V. 108, p. 1169.
Common dividends. '09. *10. '11. '12. '13. 14*. '15. '16. '17. '18.
1919.
Per cent.
4*4 6*4 6
7*4 5*4 4
4
6*4 6
6
1*4(text)
Pres., E. M. Allen.
N. Y. office, 25 W. 43d St.—(V. 110, p. 769, 1531,
2197.)
MAXWELL-CHALMERS MOTOR
Motor Co., Inc.—
CORP.—ORGANIZATION.—See
Maxwell
MAXWELL
MOTOR
CO..
INC.—ORGANIZATION.—Incorp.
in
1044.
1177, 1494, 1018, 1082; state¬
ment Sept. 1910, V. 91, p. 868; V. 97, p. 1111.
Output capacity was in
1916 increased to over 8,000 automobiles per month.
V. 95, p. 1335; V.
96, p. 1559.
See application to list, V. 100, p. 52.
On Sept. 11917 took
a 5-year lease of plant of Chalmers
Motor Corp. (which see).
Delaware Dec. 31 1912
as
successor
1335, 1620) of U. S. Motor Co.
MERGER.—In Nov. 1919
a
after foreclosure (plan V. 95, p.
V. 90, p.
readjustment of capitalization and
a merger
with the Chalmers Motor Corp. was proposed by the aforesaid committee,
plan in V. 109,
985, 978, 985, 1700, with the capitalization shown be¬
low also in table above.
The merger if consummated will probably be
effected under title of Maxwell Motor Co., Inc. (present name), or as Max¬
well-Chalmers Motor Corp.
On Nov. 13 1919 the N. Y. Stock Exchange
authorized the listing of $969,900 1st pref. stock, $3,215,400 2d pref. stock
and $250,600 com. stock of Maxwell Motor Co., Inc., assenting to plan
with permission to increase these amounts as further deposits are made.
per
p.
Description of Proposed New Securities.
1.
Ten-Year 7% Sinking Fund Convertible Gold Notes
$10,000,000
Subject to, call at company's option, all or part, at on any interest date,
after 30 days' notice, at par and interest plus a premium of
% of 1% for
each six months from the date of the maturity thereof to the date of
redemp¬
tion.
Convertible at any time, at option of holders thereof. Into com. stock.
Unless otherwise determined prior to the consummation of the
plan, each
holder of new notes surrendered for conversion will be entitled to receive,
for each $1,000 of said notes in new com. stock: (a) if converted
during first
90 days from date of notes, 15 shares; (b) if converted after first 90 days
and prior to the date when the same shall be payable or shall be called
for redemption, 12 shares.
Annual sinking fund 5% of the notes outstanding to retire same either
through purchase or by call.
The new company will be forbidden to declare any divs. on Its com. stock,
if such payment would reduce its said quick assets to an amount less than
double all of its said current liabilities and (subject to wavier by a special
committee) it is provided that after the first four months the quick assets
must be maintained at an amount at least 1*4 greater than the current
liabilities including all the new rates.
The new company must not make
mortgage or pledge any of its assets except (a) purchase-money mortgages
not exceeding 70% of the purchase price of additional property purchased;
(b) temporary obligations running not more than one year and secured by
quick assets in ordinary business.
2.
Preferred (a. & d.) Stock, 7% Cumulative, Shares $100 Par VaJ$3,150,000
Subject to redemption, all or part, at the option of the new oompany, at
after 30 days' notice, at 110% and divs.
Convertible any time
of holders into com. stock, share for share.
The new company
will, subject to the sinking fund and other requirements of the new notes,
set aside at the end of each fiscal year as a sinking fund an amount equal
to 2*4 % of the par amount of pref. stock then outstanding.
For the retire¬
ment or said stock either through purchase or by redemption by lot.
The pref. stock and the com. stock will have equal voting rights.
3. Common Stock without Nominal or Par Value
„-_800,000 shares
Disposition of New Notes.—For the purpose of providing funds for addi¬
tional cash working capital of the new company and for its other corporate
purposes, it is proposed to sell the $10,000,000 new notes to Central Union
Trust Co. of New York and Chase Securities Corp. (hereinafter called the
bankers) which have agreed to purchase said notes on or before Dec. 3 1919.
(The committee was unable to secure from the bankers a positive commit¬
ment for an extension of time and the agreement for the purchase of the
notes elapsed.)
If the plan had been declared operative Dy Nov. 8 the
any time
at option
shareholders would have been allowed to subscribe for the notes.
M fSCELLA NEO US
First page]
Par
Amount
Rate
When
Value
Outstanding
%
Pat/able
May Department Stores Co—Common stock
Pref (a & d) 7% oum redeem 125 (text)
$100
...—
May BIdg 1st M leasehold serial M gold red text
Mercantile Stores Co—Stock $5,400,000
Debenture bonds $5,400,000 g call par; s
—Ba.c*
1913
1918
See text
6 in 1919
100
—
See text
7 tn 1919
500 Ac
100
100 &c
None
& Co—Common stock 40,000 shares
100
Pref (a & d) stock
Merzenthaler
8% cum $3,500,000 call 115Linotype—Stock authorized $15,000,000-.
Table Showing Treatment of Deposited Securities.
Out-—Cash and New Stock Deliverable in Exchange—
standing.
Cash
Pref. Stock— —Com". Stock—
Maxwell Motor Co., Inc.—
L
(No. Shares.)
1st pf. stk.$13,133,336 (7%)$919,333a
120%- 157.601
2d pf. stk_. 10,127,468
66>4%~67,348
Com. stock. 12,805,158
——-—
70%89,637
Existing
Chalmers Motor Co.—
Com,
stock 399,364 shs,
—.—.......
cl05%- c46,200
15%59,905
379,309
For conversion, &c
(shrs.>800,000
a Less any part of the dividends accrued on the 1st pref. stock of Maxwell
Motor Co., Inc., which may be paid pending the carrying out of the plan;
this sum representing 1st pref. divs. to Sept. 30 1919.
b With adjustment in cash of accrued interest and dividends.
c 10% of this represents dividends accrued on existing pref. stock.
Readjustment Committee, viz.; (a) Harry Bronner, Chairman, James C.
Brady, John R. Morron and Elton Parks, stockholders of Maxwell Motor
Co., Inc.; (b) Jules S. Bache, Hugh Chalmers and J. Horace Harding,
stockholders of Chalmers Motor Corp.
Depositary, Central Union Trust
$3,150,000
.$919,333
Total auth. stock. &c
Co.. N. Y.
8%
12,800,000 I0%1919
Consol.
P Gross income.
$3,229,323
$929,937
131,333
♦Depreciation
Sinking fund
Inventories
reserve
$3,163,334
$871,133
133,366
$5,914,905
$407,208
139,151
First pref. dividends
x233,515
Second pref. dividends..
Common dividends
50,173
Adjustment of taxes
Reduction of value
other investments
976,427
--(6%>607,650
(10%)1,277,800
580,392
x953,762
Res. for conting
Reserve for income tax,.
the
plan, but
109. p. 1798.
Collateral
Valuation.
a
$366,593
511,646
a
523,986
559,744
a
196,681
1,431,869
2,750,013
Free asset
522,166
157,731
802.540
...
602,411
—
282.522
Balance, surplus
354,705
294,440
245,201
*
DEPARTMENT STORES CO.—ORGANIZATION.—Incorporated
1910 and took over the Shoenberg Mercantile Co. ol
(operating the "Famous"), May Shoe & Clothing Co. of Denver,
Colo., and May Co. of Cleveland, O.
V. 90, p. 1617
On Feb. 25 1911 ac¬
quired entire stock ($1,000,000 each of common and pref.) of Wm. Banr
Dry Goods Co. or St. Louis.
V. 92, p. 876; V. 100, p. 2075.
In July 1912
purchased department store business of M. O'Neill & Co. of Akron, O.—
see below.
V. 94. p. 1569: V. 95. p. 484.
Owns stock of May Building Co. (Cleveland) and leasee 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 yearly to
1922, $90,000 la 1923 and 1924. $100,000 In 1925 to 1927. $120,000 In 1928.
aud 1929, $140,000 In 1930 and 1931 and $200,000 in 1932 and
1933.
Bonds red. at 103 on any Int. day beginning Mar. 1 1918.MV. 97, p. 54.
V. 98. p. 993.
Purchase money mortgage Jan. 31 1920. $255,000.
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. 31 20. $1,950,000.
The company notified the N. Y. Stock Exch. in May 1920 of a proposed
increase in the Common stock from $15,000,000 to $20,000,000 and a
reduction in the pref. stock from $8,250,000 to $6,250,000.
Stockholders
were to vote on the proposition June 10 1920.
MAY
in New York on June 4
St. Louis
DIVIDENDS
/ll. '12. '13. 1914. '15. '16. *17. '18.
on
*19. '20.
Common stock
%l 1
AM
5
5
2\i
2H
5
5
6
text.
1%%', June 1, 2%; Sept. 1, 2%.
Shareholders of
record June 25 1920 were to receive a stock dividend of 33 1-3%.
1920:
Mar.
1,
REPORT.-^For
ending Jan. 31 1920, V.lloTirMi 9 Showed!"'
1919-20.
1918-19.
1917-18.
1916-17.
$57,962,444 $41,179,261 $35,631,660 $30,347,482
Net profits
7,848,104
2,168,269
2,150,332
1,005.702
Federal taxes.
2,400,000
1,632,289
878,078
80,671
Shrinkage in inventories
1,250,000
Preferred dividends (7%)
459,638
477,881
499,538
512,531
Common dividends.(6%>900,000
(5)750,000
(5)750,000(2^)412,500
Jan. 31
year
Years—
Net sales
by exchanging
for stock aad
transfer of assets
the
was
awaiting further
V.
assents.
company
Basis of Exchange of Notes of Old Mercantile
$5,926,892
$500,256
137,641
$1,114,487
$549,681
$2,506,669
$2,338,982
$9,681,613
$8,567,125
$8,017,444
$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 1 % % 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
at the rate of 6% per annum, payable semi-annually.
In 1918-19, because of the increased cost of labor and materials and be¬
cause a final settlement had not yet been effected with the Government
agents and accountants in regard to the 5-year lease of the Chalmers Motor
Corp. properties, it was deemed necessary to conserve the cash resources of
the company and to discontinue the payment in scrip or otherwise of the
pref. dividends since Oct. 1 1918.
See merger plan V. 109, p. 978, 985,
1700, 2362.
OFFICERS.—Chairman and President, W. Ledyard Mitchell, Detroit;
V.-P., Carll Tucker, N. Y.; Treas., W. M. Anthony, Detroit; Comp.,
John Flint; Sec., L. W. Llnaweaver,
N. Y. headquarters, 1808 Broadway.
—(V. 110, p. 664, 1648, 1977.)
<
plan of Dec. 18 1918 (V. 107, p. 2480), was
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).
Total surplus July 31...
In
new
a
—
June 30
is authorized to issue under the plan $5,400,000 5% 15
year debenture bonds dated Dec. 31 1918. Bankers Trust Co. of N. Y.
trustee.
Minimum Binking fund beginning in 1919, 66 2-3% of the net
earnings of each fiscal year after deducting interest, setting up necessary
reserves, &c.
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 will be created, and the 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.
tlamlll. Pres. Corn Exchange Nat
Bank. Chicago; Jofau W. T. Nichols,
of Mlnot, Hooper & Co., N. Y.; Philip Stockton, Pres. Old Colony Trust
Co., Boston, and Henry W. Howe, of Lawrence & Co., Boston and N. Y.
600,000
169,887
Chicago
bonds (34 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. 1918 a very large proportion of the notes had assented to
of
75,000
and
York
Lawyers T & Tr Co, N Y
Apr 1 '20 2%
'20 2M Tribune Building:, N Y
Q—J
Q—M
NEW SECURITIES.—The
200,000
...
New
formulated to put the several properties on a permanent basis
Collateral notes of the several series, all due Dec. 1 1919,
[Amounts
2448:
Profit and Loss Account Years ending July 31.
PM
1918-19.
1917-18.
1916-17.
1915-16.
Net, after taxes, &c_j_. $2,144,214
$2,437,114 $5,342,728
$5,531,034
Other income
1,085,109
726,220
572,176
395,857
REPORT.—In full for year ending July 31 1919, in Y. 109, p.
do
Cleveland
J & D31 Dec 31 1933
40,000 shs.
3,500,000
The
100%-$3,150,0005
$3,150,000
Chalmers Motor Corporation—
Pref. stock. $4,400,000
notes..
Payable
New
...j-._.
See text
100
Securities
6%
See text
20. IH%
8 Mar 2 '21-'3Z
A;
are
Checks mailed
See text
Apr 1
Q—J
Where Interest and
Dividends
and Maturity
Q—M
M
6 g
1.560,000
Places
Dividend
Last
Date
Bonds
COM PAN IES
[For abbreviations, fee., see notes on
Merck
[VOL. 110.
INDUSTRIAL STOCKS AND BONDS
11)4
a
426,874
196,707
384,047
120,996
2,819,141
so
issuable and
paid in cash inserted by Editor.]
Princ'l Paid
Plan Offered
P. Ct. Mstk.Mbds.
10.05
$674,681
55.03
814.950
195.588
448,460
35.81
711,070
1,985,674
891,194
10.05
1,072,078
289,461
107,744
92.71
564,747
235.539
523,577
65.97
660,321
1,000,942
349,272
10.05
1,286.856
860.609
121.289
22.80
351,513
1,541.723
370,013
83.19
1.341,296
1,612,331
536,100
None
521,545
521,545
62". 68
367,455
586,240
488,199
22.41
285.866
1,275,617
395,897
56.05
977,868
1,744,636
797,835
10.05
1,161,313
342,587
116,712
46.72
767.381
1,642.510
494,203
43.53
367.315
843,820
99,398
42.42
1,095,573
400.187
464.742
27.92
460.069
1,647,812
729,464
31.03
1,168,625
310,470
362,624
10.05
1.053,714
492,611
105.898
48.57
1,107.972
340,147
538,142
28.05
1,092.907
409,429
306,561
36.12
1,473,031
453.527
632.059
24.33
206,044
846,874
218,249
sums
No.
Notes,
Ser.
Original Ami. to Dec.30 *18.
1 Claflin, N. Y $6,713,244
$2,807,274
2 Batte'n, Bkln
3 Bacon,Louisv
4 Bedford, Br_
5 Castner.Nash
6 Connell.Butte
7 Defender.NY
8 Fair, Cincinn
9 Hen sy,Butte
10 Jones, Kan O
11 Joslin,Denver
12 Kline,Alfna
13 Lion, Toledo
14 L & G, Read.
15 MacD,Seattle
16 McAlpin.Cin
17 Montg'y Fair
18 Peoples.Tac'a
19 Root, Ter. H
20 Springs, GrR
21 WatkTns
22 Watt,Norfolk
23 White,Au'sta
24 Whiteh'e.Spo
Free assets._
Total
$10,800,000
$33,774,736 $13,028,197
about $10,800,000
Wholesale house sold in 1917.
a
On Dec. 31 1919 the company
bid in at auction all the properties of the;
Mercantile Stores Corp. for a total of $8,835,516.
REPORT.—Statement
store.
V.
105.
p.
of
Oct.
1917
with
Alexander New;
N. Y. office, 220 5th Ave.—(V. 110, p. 82.)
&
Secretary,
report
for
each
Charles H.
Low.
COMPANY.—ORGANIZATION.—Incorporated in
New
MERCER MOTORS CO.—V. 110,
MERCK
York in
financial
1895.
OFFICERS.-—President.
p.
876, 2081.
1908
(recapitalized in Aug. 1919).
Principal plant at Rahway,
N. J., occupies 35 acres and a small plant at Midland, Mich.
Business,
fine chemicals, chiefly for medicinal purposes; in all, about 4,000 different
articles for medicinal, photographic, technical and household uses; standard¬
ized 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
equal voting power.
38,000 shares of com. stock have been deposited under
a custodian for the purpose of continuing its American charter.
V. 109.
p. 482.
Divs. on pref. are being paid at the rate of 8% p. a. (2% Q .-J.).
Cal.Yrs.
1913.
1914.
1915.
1916.
1917.
1918.
Sales..$3,926.280 $4,220,953 $5,913,638 $6,609,254 $8,142,184 $8,024,289
Profits.
320,742
428,648
1.513.357 1,366,839
989,165
606,897
Earnings for 6 months ended Dec. 31 1919:
Net profits, $445,472;
deductions, $13,967; pref. divs., $140,000; surplus, $291,505; total profit
and loss surplus Dec. 31 1919, $662,304.
V. 110, p. 1093.
.
President, George Merck.
N. Y. office, 45 Park Place.—(V. 109.
p.
482
V. 110, p. 1093.)
MEROENTHALER LINOTYPE CO.—Owns plant at Brooklyn, N. Y.
controls British Linotype & Machinery, Ltd.. and
Mergenthale*
V. 88. p. 509. 567. 948. 689.
Decisions, V. 100.
p. 58. 234: V. 104. p. 1149.
Bills payable (Oct. 1 1917). $450,000.
and
Setzmaschluen Fabrik.
Balance, surplus
$2,838,466
$1,559,978
$1,758,772
$2,107,320
Pres., Morton J. May.
N. Y. office, 128 Broadway.—(V. 110, p. 1419,
2081
2197.)
1977
MERCANTILE STORES CO., INC., NEW YORK CITY—ORGAN.
—Incorporated in Delaware in Jan. 1919 per plan in V. 107, p. 2480. as
successor of Mercantile Stores Corp., which in turn was formed in accord¬
ance with the plan of Sept. 25 1914 for the reorganization of the dry goods
house of H. B. Claflin Co. (V. 99, p. 971, 967, 1302, 1454). » Will supervise
the 23 retail stores named below, owning their entire share capital.
Has
as "free assets"
(i.e., not pledged for any special series of notes), entire
capital stock of McCreery & Co., Pittsburgh; Wiikes-Barre Dry Goods Co
and MacOullum
& Cloutier Mercantile Co., Anaconda, Mont., Jones
Store Co. of Kansas City.
DIVS.
Per
i'97. '9w-'00. *01. '02-'13. '14. T5. *16. 1017. '18. '19.
'20.
cmit4l6^ 20 y ly!3H 15y'Iy 14^ 10 12h' 12*$ 12X 10
text
both in 1916 and 1917, 2H % regular and 2j^ % extra was paid.
In Dec.,
In
1920: March, 2^%; June, 2^%.
REPORT.—For year ended Sept. 30 1919. In V. 109. p. 2168, showed:
Sept. 30 Years—
1918-19.
1917-18.
1916-17.
1915-16.
Net, after deprec
$1,663,138
$1,343,545
$1,883,159
$1,898,200
Divs. (about}
(10%) 1280000(12H)l,600,000(12H)1600000(10) 1279,997
Pres., Philip T. Dodge; Sec. & Treas., Jos. T. Mackay.—(V. 106, p. 713;
V. 107, p. 2184; V. 109, p. 1992, 2169.)
'
,y
MERRITT OIL CORP.—V. 110,
p.
267. 2081.
May, 1920.|
RAILWAY
MISCELLANEOUS COMPANIES
[For abbreviations, &c.,
see notes on
STOCKS AND BONDS
Date
Par
Amount
Rate
When
Bonds
first page]
Value
Outstanding
%
Payable
Mexican Petroleum Co., Ltd.—Common stock, $48,000,000Pref (a & d) 8% non-cum $12,000,000
Underlying bond3, see text
Mexican Seaboard Oil Co—Debens $15,000,000 call 105—
1919
See text
$100
Pref 6% cu (a & d) $4,000,000 red any Feb 1
c*
Michigan State Telephone 1st mtge $10,000,000 g>.OBxc*
Detroit River Telephone Co 1st M
1904
500
&c
1910
1915
1917
1917
100 Sec
12.750.600
8.222.200
1.000,000
100 &c
1,000,000
1917
100 Ac
1.000.000
1918
1,000,000
800,000
300,000
795,000
do
do
Ser O
do
do
do
do
do
Ser D
do
do
1918
do
1919
100 Ac
100 Ac
100 Ac
1919
100
do
do
Ser E
do
do
do
do
Ser F
do
xxx
5-yr 7% Convert Gold Notes (auth $2,500,000) call
Bonds of subsidiary companies
IC
c*
Ac
METROPOLITAN EDISON CO.—Supplies electricity for light and
which centres around Reading and Lebanon, Pa.
Total
population served about 250,000, including over 24 communities.
Owned by
Authorized. Outstanding. G.Q.&El.Co.
Capitalization—
:
$3,000,000
5,000,000
10,000,000
stock..
1st A Ref. Mtge. 5s 1922
$3,000,000
2,500,000
4,310,000
$3,000,000
1920
2,000,000
954,200
Metrop. Elec. 1st M. 5s 1939.'
Closed
2,656,000
Office.—Reading, Pa.—(V. 109, p. 2362; V. 110, p. 2081.)
000,000 acres, 75% owned In fee and the remainder under leases with an
aggregate rental of less than $20,000 yearly.
V. 91, p. 1450; V. 94, p. 355.
Petroleum ~
etroh
~~~
""
------Transport Co.. ~ 90. p. 206;
V. ~
97. p. 526. 668. V. 100. p.1514
In June 1916 the Pan American Petroleum A Transport Co. (which
see)
V^
acquired control, owning In Dec. 1919 $9,035,000 pref. and $26,455,800
common, leaving! n other hands less than $3,000,000 preferred and only
a little more than! 14.000.000 common.
V. 102, p. 715: V. 105, p. 2277
New Mexican oil tax in April 1918, V. 106,
p. 1465, 2295.
Fuel oil
contract, V. 109. p. 1466.
Petroleum
Co.
was
incorporated in England in
paid-up initial capital of £2,000,000, one-half of which
subscribed by Birtish interests and the other half by the Pan-American
was
com¬
Mexican Petroleum oil and gasoline in the Eastern Hemi¬
fleet of tankers and tank farms for the bunkering of
Proposes also to erect refineries to handle crude oil from
own a
snips with fuel oil.
the Mexican Petroleum Co.
The contract with the Mexican Petroleum Co.
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 A
Transport Co.,
owner of $17,500,000 of the $40,612,100 common stock (as well as
$9,035,000
runs
Jlass B
?ref.) offered fromstock forto 25, to give two of its outstanding
Nov. 5 each $100 share $50 shares of its non-voting
common
common.
109, p. 1703, 1992.
In Dec. 1919, $8,127,700 had been exchanged.
DIVIDENDS.—On common, 1%, 1910 and 1911; 1912, 3%: 1913. 4%;
none till Oct. 15 1917,1H %; Jan. 1918,1 H
%; April 1918 to
then
July 1919
(quar.), 2%, half in Liberty bonds.
In Oct. 1919 paid 2% and in Jan. and
Apr. 1920 paid 2^% each.
V. 109, p. 985; V. 106, p. 933, 2126; V. 107,
p. 2193; V. 108, p. 884, 2334.
Dividends on pref. stock were resumed April 1 1916, 2% being paid quar¬
terly (8% p. a.) thereafter till and Including Apr. 1920.
BONDS.—All the $1,190,000 or less of First Lien A Ref. Gold bonds of
1911. Series A. B and O. were called for redemption April 1 1919 at 105%
and interest.
V. 108, p. 585.
Total bonded debt Dec. 311918, $1,279,855,
including:
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 Del., 6s, due Apr. 1 1928, and Mexican Petrloeum Co. (Cal.) S. F.
6s, duo 1930 (of which only $675,500, $269,000 and $81,600, respectively,
in tne hands of the public, the remainder being held by che consolidated
cos.), and the balance for not
capital expenditures.
over
five-sixths of the cost of acquisitions and
Each series has
a
sinking fund.
REPORT.—R
leport for calendar year 1918, in V. 109, p. i
9,
976, 1271:
1
1918.
1917.
$
$
Gross earnings 26,320,546 18,121,789 Pref. divs. (8%)
960,000
960,000
$7*
Total
Income-12,146,282
Bond interestOther deduc-War taxes
6,215,480 Common
608,460 Balance,
125.668
321,170
plus
5,000,000
div(8)3,168,088(3)1180,263
sur—
2,571,436
2,845,757
621,000
pref. div8., $720,000; common divs., $2,651,846; surplus, $1,055,225.
OFFICERS.—Pres., E. L. Doheny; V.-Ps., C. E. Harwood, H. G. Wylie,
Norman Bridge (A Asst. Sec.); J. M. Danziger, J. S. Wood, Franklin K.
Lane; E. L. Doheny Jr. (A Treas.); Sec., O. D. Bennett.
Office, Los
Angeles, Calif.—(V. 110, p. 974.)
MEXICAN
SEABOARD OIL CO.—ORGANIZATION.—Incorp. In
Sept. 12 1919 as successor of International Petroleum Co. (V.
109, p. 1465, 1530).
Under reorg. plan the Sinclair Consolidated Oil Corp.
and Ogden Mills agree tobuy $11,500,000 7% 10-year debentures of the new
Delaware
Seaboard Co.
OFFICERS.—Pres., Harris Hammond; V.-Pres., A. E. Watts and F. N.
Watrlse; Sec., J. A. Murphy; Treas., R. D. Hanna.
The board of directors
will consist of these officers, together with R. C. Bulger, Ogden Mills
Theodore Schulze and Mark L. Requa.
An advisory committee was elected
consisting of John Hays Hammond, Ogden Mills, Harry Payne Whitney,
Harry F. Sinclair and Harris Hammond.—(V. 109, p. 1465, 1530.)
MEXICAN TELEGRAPH.—Company organized In 1878 under laws of
N. Y. State.
Owns three cables in the Gulr 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. & 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.
DIVIDENDS,—In 1882 to 1886, lncl., 8%
yearly; from 1887 to Apr.
1620, both Inol., at rate of 10% per annum (2 H% Q.-J.): also June 1 1906,
60%, and June 1 1909, 25% in stock; April 1 1917, 39% in stock, increasing
the outstanding stock to $4,995,200.
v. 106, p. 91.
See full statement,
V. 104, p. 668.1049; V. 83. p. 1104.2627.
(11 mos.)f V.
Oross.
1919 (11 mos.)__$1,529,929
Net.
year
year
MIAMI COPPER CO.—ORGANIZ'N.—Incorp. Nov. 29 1907 In Dela.
Property totals 1,222 acres near Globe. Arts. Decision.V. 106. p. 1109,1214.
See text
text
Q—M
See text
J Jan 11925
J July 1 1920
New" York""and Chicago
J
A
6 g
J
A
do
do
§ g
MAS Sept 1 1920
MAN Nov 1 1920
do
do
do
do
J Jan
1 1921
do
do
MAS Sept 1 1921
MAS Mar 1 1922
MAS Mar 1 1924
do
do
do
do
do
6g
J
M
?g
A
do
REPORT.—For fiscal year end. Dec. 31 1919 (compare V. 110, p. 1977):
9 9.
918.
1917.
1916.
Copper sold (lbs.)
--
Total sales
57,514,580
54,842,335
44,208,061
53,433,863
$14,446,704 $10,673,409 $13,072,440
$10,508,341
Balance for dividends..1,494,856
5,262,419
3,204,261
5,852,560
Dividends
(50) 1,867,785 (90)3362,013 (75)2801,678(115)4295,906
—
1920.
i.919.
4,489,748
18,776,701
4,924,420
18,476,722
*12.
'13. '14. *15. *16. *17. *18. 1919. 1920.
30
40
30
45
115 170
90
60, Text
10%.
Also in Aug. 1917 5% optionally applicable to Red Cross and Army anck
Navy branch of Y. M. O. A. V. 108, p. 1516; V. 104, p. 2557.
Pres., Adolph Lewisohn, N, Y.—(V. 110, p. 974, 1531, 1977.)
MICHIGAN
STATE TELEPHONE CO.—ORGANIZATION.—Incor-
Sorated inCo. owned In 1904 (V. prer. and $5,997,200Dee. 1918 Am. V 91.
Michigan $1,854,500 75, p. 33,1034). In com. stock. Telep.
Teleg.
p. 218; V. 95, p. 484,
622; V. 96, p. 949; V. 97, p. 179, 369.
Dividends 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.
REPORT.—Report for 1917 in V. 107, p. 176, showing: Gross earn*Ings, $7,991,343; net, $643,702; other Income, $182,418; int., rents, &c.r
$959,662: bal., def., $133,542; pref. divs.(6%), $240,000. paid out of surp^
OFFICERS.—Pres., B. E. 8unny; V.-P's., Dudley E. Waters. Alonzo>
Burt (also Treas.) and Horace F. Hill; Sec.. W. I. MIzner; Gen. Aud., B. 8.
Garvey.
Office, Detroit.—(V. 110, p. 82.)
MIDDLE STATES OIL CORP.—ORGANIZATION.—Incorp. In Del.
Feb. 24 1917.
A holding company.
Owns stocks of the following com¬
Number One Oil Co., $200,000; Number Seventy-seven Oil Co.,
$200,000; Ranger Texas Oil Co., $696,200; Dominion Oil Co.; $1,550,000;
panies:
Texas Chief Oil Co., $1,200,000; Peters Oil Co., $1,000,000. Through its
subsidiary companies owns leases of 10,630 developed and 8,904 undeveloped
acres in Okla. and Texas, on which are a total of 78 oil
producing wells, 4 gas
Eroducing wells and Oct. wells drilling.109, p. statement to thedeal closed,
20 1919 in V.
Pull 1532. Royalty New York
tock Exchange in
V.
110, p. 172.
STOCK.—Authorized, $8,000,000; issued and outstanding (after distri¬
bution of 50% stock div. on July 10 1920), $7,800,000.
DIVIDENDS.—Cash dividends have been paid each month since Nov. 1
1917 as follows:
From Nov. 1 1917 to March 1 1918, both incl., 34 of 1%
monthly, from April 1 1918 to Apr. 1
1920, 1% monthly;
on
July 1 1920
Eaid 4% quar. Aug. 1 1918,seven stock dividends aggregating8%; May 1,
120% have
paid, viz.: In addition
4%; Nov. 1, 8%; Feb. 1 1919,
een
Sept. 1, Dec. 1 1919, 10% each; Mar. 1 1920, 20%; July 10 1920, 50%.
V. 109, p. 1705.
♦CONSOLIDATED rNCOME ACCOUNT—Gross income, $1,541,613;
net income, $1,079,398: divs., $149,720; net profits (bef. taxes), $929,677.
♦
This consolidation embraces income Number Seventy-Seven Oil Co.,
Number One Oil Co., for the period Mar. 1 to Dec. 31 1919; income of
Dominion Oil Co. from Nov. 5, the date of organization, to Dec. 31 1919,
and Ranger Texas Oil Co., for the period May 1 to Dec. 31 1919.
V.
11DI&ECTORS.—O.
N. Haskell (Chairman), W. L. Walker, P. O.
Saklatvala (Pres.), M. C./Collins, William Murdock (V.-P.), New York;
W. E. Holloway, Yonkers, N. Y.; C. J. Haskell (V.-P.), Tulsa, Okla; Geo.
A. Muir, Wm. Rosenfeld, E. S. Lawrence, H. S. Bettes, C. B. Peters, J. R.
Armstrong, I. M. Putnam; Col. C. A. Eastman, Sec. & Treas.
Office,
347 Madison Ave., N.Y.—(V. 110, p. 876, 1192, 1295, 1531, 1854, 2081.)
MIDDLE WEST UTILITIES CO.—A holding company incorporated
by the Insull Interests of Chicago In Delaware May 1912.
sanies April 30 1919 (compare Electric Railway
108, p. 2525)—(1) Illinois.—Central 111.
Eastern Elec. Ry.; Central 111. Util. Co.
State Pub. Serv. Co. (V.94,p. 1157,1701); Franklin Water, Lt. & Pow.
Southern Ind. Pow. Co. (V. 100, p. 2006); United Gas & Elec. Co.,
Albany Water-Works, Louisville & Northern Ry. & Ltg. Co. Louisville &
South. Ind. Trac. Co.; Central Ind. Ltg. Co.
(3) Kentucky.—Kentucky
Util Co.; Kentucky Lt. & Pow. Co. (V. 104, p. 2010).
(4) Michigan.—
Michigan Gas & Elec. Co. (V. 104, p. 950);
(5) Missuori.—Missouri Gas
& Elec. Serv. Co.
(6) Nebraska.—Nebraska City Util. Co.; Central Pow.
Co. (V. 109, p. 479);
(7) New England.—Twin State Gas & Elec. Co.
(V. 109, p. 79); Berw ck & Salmon Falls Elec. Co.
(8) Oklahoma.—Publlci
Serv. Co. of Okla. (V. 101, 0. 923); Chickasha Gas & Elec. Co. (V. 101, p.
632); Amer. Pub. Serv. Co. (of Okla. and Texas).
(9) Tennessee.—Tennes¬
see Pub. Serv. Co.; Citizens Gas Lt. Co.
(10) Virginia.—Electric Trans¬
mission Co. of Virginia (V. 102, p. 254,440).
(11) Wisconsin.—Southern
Wise. Elec. Co. (V.104, p. 1050: North West UtU.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.
STOCK.—Tne stockholders were to vote June 15 1920 on merging and
consolidating the Middle West Securities Co. into the Middle West Utilities
Co.
The consolidated corporation will have an authorized capital of (a)
200,000 shares Prior Lien stock (par $100); (6) 200,000 shares of pref. stock
(par $100), and (c) $200,000 shares of common stock (no par).
Compare
DIViSeI4DS.—Divs.
The June 1
on
pref., Sept. 1912 to June 1918, \M% Q.-M.
paid In 10-yr. 6% div. certs, subject
olders into stock of
convertible at option of he
1918 pref. dividend was
to call by the company and
either class; none paid since.
V. 107,
,
p.
909; see V. 106,
p.
2123.
In Jan,
% on com. stock,pay able in quraterly
1917 declared an Initial cash div. of 2C.
installments of H of 1 %, beginning April 2, and a stock div. of 2%, payable
_
110, p. 1093:
Dividends.
Bal., Sur.
$234,167 (10%)$374,640 $725,708
War Tax.
$1,334,516
1,522.910
974.002
187,372 (10%) 499,520
287.110
1,492,526
1,220,814
176,631 (10%) 464,370
579,812
1916, year
1,412.836
997,700
(10%) 358,940
638,760
Total surplus Nov. 30 1919, $4,482,577.
Chairman, E. L. Baylies; Pres., John L. Merrill; V.-Pres. A Sec., J. R.
Beard, 89 Broad St., N. Y.—(V. 109, p. 1084, 1371, 2444; V. 110, p. 1093.)
1918,
1917,
HarrisForbes&Co.NY &>B
Detroit Trust Oo, Detroit
,
Income account 9 months ended 8ei it. 301919: Gross income. $15,365,797;
income and profits taxes, $825,000;
expenses, $7,592,229; interest, $76,
REPORT.—For 1919
mailed
Cheeks
11924
See text
Mthly
text
6
Dividends—
MEXICAN PETROLEUM CO., LTD.. OF DEL.—ORGANIZATION.
Ac.—Incorp. in Del.Feb. 16 1907. Holds 99% of outstanding stock of Mex¬
(Calif.) and entire stock of Huasteca Petroleum Co..
Tamlahua Petroleum Co. and Tuxpam Petroleum Co. Thus owns or controls
V.
13$
Feb
Per cent (see V. 105. p 2099)In Feb. and May 1920 paid
ico Petroleum Co.
sphere and to
1914
Sept 30 '19 1H
Output, Lbs.—
April...
4 months.——
Bond-sec. 6% gold notes, due Dec. 15
pany, to market
Sept;
See text
power to a system
Mexican
New York
Sept 1 1929
Apr 12 '20 2H Office, 89 Broad st, N Y
May 15 20, 10%
MAS Sept 1 1930
text
9.796.300 See
100
100 Ac
do
a
Places Where Interest and
Dividends are Payable
214,600
100
Ser B
British
Maturity
Apr 10 '20 23* Los Angeles, Oal.
Apr 10 *20 2% Los Angeles, Cal
JAD31
68
See text
text
do
The
7
52.000
do
July 1919 with
and
$4,995,200
10
Q—J
3.735,570
Q—F
6,000,000
4,000,000 4^1n'19
F
&
A
9,715,000
5
100
100
Real estate mortgage notes
Middle States Oil Corp—Stock $8,000,000
Middle West Utilities Co—Common stock $20,000,000—
Preferred stock 6% $20,000,000
Collateral bonds gold red text
ICxc»
Collateral gold notes Ser A see text call 100
—xxIC.c*
Preferred
Last Dividend
$100 $40,612,100 See text
100
8
12,000.000
/nexican Telegraph Co—Stock authorized $5,000,000
Miami Copper Co—Capital stock $4,000.000
Mich State Telep—Common stock
Common stock.
195
1% semi-annually In April and Oct. 1917; April 1918, ^
h.% stock div.; none since on the com. stock.
V. 106, p.
OffOC
BONDS.—The 10-yr. 6% collat. bonds
of 1% cash and
2646; V. 108, p,
of 1915 have (a) their issue limited
*'
"
'
are se-
compa_
|
to be at
least 1 Vi times the annual int. charge on all mortgage debt of such co.: (c)
redeemable at 102 34 on Int. dates to Apr. 1 1922 & at 101
thereafter.
The subsidiary companies in most cases have bonds In hands «t put lie
are
I
(96
MISCELLANEOUS COMPANIES
Dale
Par
Amount
Bonds
Value
Outstanding
%
Bonds of Subsidiaries—
Union Coal A Coke 30-yr s fd bds
1910
1905
1907
1909
1909
Pitts A Westm Coal Co $2,500,000 20-yr (closed mtge).GP
Fitts-Westmore Coal $6,000,000 1st mtge bonds.
SP
fd bonds..QP
fd bonds
Manufacturers Water Co $4,000,000 1st M s
Johnstown Water Co $1,500,000 1st mtge s
Beaver SS Co 1st M due Dec
1928, $30,000, call 102
GP.c
Beaver Steamship Serial bonds due $15,000 ann
DD
Johnstown 8S Co $1,300,000 bonds due $130,000 pa...GP
Milwaukee (las-Light— First mtee g $10,000,000 red 110
Ce
Minneapolis Gen Elec—See Northern States Power Co
Mississippi Valley Gas & El Co—Coll tr bonds red 102 text..*
Mitchell Motors Co Inc—Stock 125.000 shares no par value
Mollne Plow Co—Common stock $21,000,0' 0 auth
1st prcf stock (a A d) 7% cum $7,500,000 red text_„__
2d prcf stock H% non-rum $1,500,000. v.—
Serial gold notes due $1,000,000 yrly. call (text)--Ce.xxxxc
z
On Dec. 31 1919 $43,227,500 was
NOTES.—The collateral
239.000
15,000
1,040.000
8,697.000
notes are
outstanding, excluding
1910
1.000
1902
1912
100,000
30,000
(Pres.), Martin J. Insull and John F.
Baker, Edward J. Doyle (Sec.), Louis A.
Ferguson, Wm. A. Fox, John H. Gulick, W. S. Brewster, L. E. Myers,
C. A. Munroe, Britton I. Budd, Edward P. Russell, Marshall E. Sampsell
and H. L. Stuart.
Oliver E. McCormick is Treas.—(V. 108, p. 1613,2525,
2635; V. 109, p. 482.)
"
7
•'
DIRECTORS.—Samuel Insull
trilchrist (Vice-Prests.), Frank J.
of Remington Arms Co. and Worth Bros. Co., all of the properties of Coatesville Rolling Mills (operated by the Worth Bros. Co.), and all of the capita]
stock of the Buena Vista Iron Co., owning extensive Iron ore properties in
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 Midvale Steel Co., Worth Bros. Co.
and the Wilmington Steel Co.
On Dec. 31 1918 owned and controlled 69
open-hearth furnaces, 2 crucible furnaces, 14 blast furnaces, &c.
Muni¬
In Feb. 1916 had steel capacity of
tions, 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.-Westmore.
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. 1910 the company acquired (see V. 102, p. 613) at $81 a share
Coal Co,
Cambria Steel Co. (which see).
During 1919 purchased a substantial interest in the Mesabi Iron Co.
STOCK.—Total authorized,$150,000,000: listed on N. Y. Stock Excta.,
$100,000,000 (V. 104. p. 1268); unissued. $50,000,000, of which $24,129,250
on Dec. 31 1919 was reserved for bond conversion privilege.
Y. 102, p. 715.
Capital stock of sub. cos. not owned Dec. 31 1919, $2,133,450.
(par $50) 97% of the $45,000,000 stock of
DIVIDENDS.—Feb. 1. 1917 to Feb. 1, 1919 inch, 12% p.a. (3%Q.-F.)
May 1919 to May 1920 paid $1 (2%) quar.
BONDS.—The bonds of 1916, $50,000,000 auth.. are convertible at
option of holder into capital stock of the Mldvale 8. A 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 shares of
capital stock of Cambria Steel Co.
On Dec. 31 '19 $1,650,000 of the bonds
were Id the treasury; $3,381,000 were unissued; $1,741,500 had been retired
by sinking fund. V. 104, p. 1403. 2015, 2557; V. 109, p. 1455, 2564.
Manufacturers' Water bonds are red. on any int. day at 10i and int. out
of the sinking fund ($150,000 yearly, beginning 1912), and also at 102 H in
blocks of $500,000 or over. V. 88, p. 1376; V. 90, p. 770; V. 96, p. 1090.
Guaranty, V. 90, p. 1365.
Bonds sub. cos. Dec. 1919, $11,641,000.
1920.
$3,669,685
1919.
$4,701,534
1918.
$9,775,044
1917.
$9,670,711
776,753
792,722
793,383
814,456
1,375,935
1,158,615
1,181,320
1,800,564
$1,516,997
t After provisions for all taxes.
$2,750,197
$7,800,341
$7,055,991
Interest
Deprec. A depletion
Net profits
REPORT.—For cal. year 1919, in V. 110, p.
Calendar Years—
1919.
Total net income...
1179, showed
1918.
Prov. for
deprec., Ac
Pro v. for Federal taxes
Bond interest
Guar. div. Cam. I. Co. stock
Special depreciation
To appropriate surplus
Dividends paid
Amort, under Federal law
Inventory depreciation
1917.
a$19,064,885a$52,036,939 $71,405,776
$407,940
Deduct—Int. paid, Ac
5,334.770
9,915,777
6,826,421
"a"
2,802,789
338,720
"a"
2.8S0.342
338,720
25,731,910
2,524,227
38,720
4,950,000
(9)9,000,000(12)12,000,000
903,434
12,000,000
do
Pryor'
Alva O. Dinkey,
Sabin, Marcellus
Dodge. J. C. Neale, A. A. Corey Jr., W. B. Dickson and Frederick
Hartley
W.
Allen.
Chairman, W.
E. Corey; Pres., A. C.
Dinkey; V.-Ps., A. A.
Corey Jr., John C. Neale, D. Brewer Gehly and Wm. B. Dickson (and
Treas.); Sec.. Robert Brewster.
Office, Widener Bldg., Philadelphia.—
(V. 110, p. 566, 1179, 1977, 1199.)
MIDWEST
1192,
1531,
REFINING
1977.)
CO.,
DENVER,
COLO.—(V.
110,
p.
172,
MILWAUKEE GAS LIGHT CO.—ORGANIZATION.—Incorporated In
1852.
Has perpetual franchise.
V. 74, p. 1199.
V. 78, p. 2602; V. 83, p.
1293.
Am. Lt. A Trao. Co. owns practically entire stock (V. 88, p. 752).
V. 85. p. 104.
Rate decision. V. 93. p. 731.
EARNINGS.—Statement for year ended June
(V. 103.
p.
30 1910 in V. 103, p. 1122.
made
Emerson
public.
Chairman,
1035, 1122; V. 106, p. 601.)
not
MINNEAPOLIS
(MINN.)
664, 769, 876, 1295.)
GAS LIGHT
McMillin.—
.
/
CO.—(V. 110, p. 267, 471.
MINNEAPOLIS STEEL & MACHINERY CO.—(V. 109, p. 482.)
MISSISSIPPI RIVER POWER CO.—(V. 108, p. 1064; V. 110, p. 1648.)
MISSISSIPPI VALLEY GAS & ELECTRIC CO.—ORGANIZATION.—
Incorp. In Maine May 23 1912 to acquire the securities and assist
velopment of electric, gas, railway and water-power properties.
In the de¬
Controls,
conjunction with Standard Gas & Elec. Co., the Louisville Gas A Elec.
Co.
Controlled by Standard Gas & Elec. Co.. through stock ownership,
which guarantees prin. & Int. of the $5,000,000 present issue of 10-year 5%
coll. trust bonds, secured by pledge of $4,500,000 pref. and $2,500,000 com¬
mon stock of the Louisville Gas & Elec. Co.
V. 94, p. 1252, 1510.
In
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 additional
collateral.—(V. 94. p. 1630; V. 95. p. 300.)
MITCHELL MOTORS CO., INC.—ORGANIZATION.—Incorporated
Output of Mitchell cars: 82 in 1904, 6,186 in 1915;
In N. Y. July 15 1916.
V. 103, p. 243. Earnings and
1746, 1854.
$1 50 was declared Oct. 20, pay. Nov. 24 1916.
1917, Feb., May and Aug. 24. $1 50.
In Nov. 1917 the dividend was de¬
ferred owing to a "large order from the Government for motor truck« "
aT new line.
V. 105, p. 2188, 2460.
Pres. D. C. Durland.—(V. 110
p. 1746, 1854.)
year
ending Oct. 31 1917, about 12,000 cars.
V.
110, p.
Dividend No. 1 quarterly
MOLINE PLOW CO.—ORGANIZATION.—Incorporated In Illinois
1870; business established In 1865; large manufacturers of agricultural
Implements.
See plants in V.96.D-290;
V. 98, p. 09; V. 107, p. 806.
V. 109, p.1278.
In
In Sept. 1918 a majority of the $9,996,000 common
N. Willys, President of the Willys Overland Co.
John
interests
were
stock was sold to
and the minority
offered the same terms, namely, $150 per share payable In
cumulative preferred dividends quarterly. In following
proportions of the following companies: Willys-Overland, 55%; Electric
Auto-Lite'now Willys Corporation), 30%; Curtiss Aeroplane& Motor Corp.,
15%. V. 107, p. 1389, 1290; V. 108, p. 474.
stocks paying 7%
8TOCK.—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
dissolution at 110) and accumulated dlvs.
First
majority of board In case of 6 mos.' default on
of failure for one year to have net quick assets
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
days notice at 115 (on
pref. stock Is entitled to
any quar. dlv. thereon,
1.4 times the amount of
a
or
power. V. 90. p.290. Div. on 1st pref.,
Incl.
On 2d pref., 1H% quar., June
lH7o quar., June 1913 toJunel920,
1913 to Sept, 1914, then none till
Sept. 1910, when 6% was declared; Dec. 1916 to June 1920. 1H% quar.
(0% p. a.).
The com. stock diva., also suspended in 1914. were resumed
Oct. 15 1916, when 2% was paid.
Oct. 1916 to Apr. 1920, 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,
with 5 years or more
102H for 4 to 5 year maturities; 102, 3 to 4 years; 101H, 2 to 3
101, 1 to 2 years, and 100>4 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, Ac., V. 107.
but callable the last maturities first at 103 for notes
to run;
years;
p.
806.
REPORT.—For 14 months ending Dec. 31 1919:
14 Mos. to
Dec. 31 '19.
Net, after maintenance, deprec'nf&c_
preferred dividends
Second
preferred dividends
$1,059,313
15 Mos. to
12 Mos. to
Oct. 31 '18.
July 31 '17.
$2,038,779
$1,566,842
(8% %)656,250(854)656,250
->(7H%/112,500(7^)112,500
Common dividends
(7)525,000
(6) 90,000
(2%) 200,000
$29^63
Balance, surplus
$1,270,029
$751,842
OFFICERS.—Chairman, John N. Willys, Pres. & Gen. Mgr., Geo. N.
Peek^V.-Pj^Treas., H. S. Lord; Sec., L. C. Blanding.—(V. 109, p. 1278;
MONTANA POWER CO.—ORGANIZATION.—Incorporated In New
Jersey Dec. 12 1912 as a consolidation, per plan V. 95. P- 1334.
Supplies
to large mines, various cities, Ac., and has contracts to furnish electric power
for operation of 438 miles of main line of Chic. Mil. A St. Paul Ry. between
Harlowton. Mont., and Avery. Ida., now in oneration.
V,
104. p. 1040.
Total
completed capacity of plants Dec. 1919 was 212,340 k. w.f viz.*
tontana. Qrt. Falls.
Thompson.
Steam.
Total.
Completed
83,530
98,000
30,000
"
810
212,340
Undeveloped
121,500
121 500
8ee official statement. V. 96, p. 1017; V. 98. p. 455, 159; V. 100, p. 976.
Hydro-electric,
STOCK.—The $6,000,000 of common stock, on which divs.
are
deferred
will.become dividend bearing as follows: $3,000,000, each June 2 1920 and
4,500,000
SeeV. 96, p. 1017; V. 98, p. 456; V. 95, p. 1611,1687.
trustees, for the dividend deferred shares.
V. 104, p. 2456.
operations including those for ordinary repairs and maintenance, amounting
in 1919 as against $20,600,000 in 1918, and for Federal taxes.
do
do
Nat City Bank. N Y
5,193,563
Balance surplus
$1,588,606 $12,258,537 $22,673,124
Total surplus Dec. 31
.$55,308,703 $53,720,098 $41,461,561
a Net earnings from operations after deducting all expenses incident to
to $14,000,000
do
DIRECTORS—William E. Corey, Albert H. Wiggin, Samuel F.
First
EARNINGS.—
mailed
Checks mailed
redee med.
$1,741,5 00
balance sheet,
MIDVALE STEEL & ORDNANCE CO.—Incorporated In Delaware
on Oct. 5 1915 (V. 101, p. 1192, 1276) with $100,000,000 of auth. capital,
all of one class (par $50). and took over 99% of the $9,750,000 capita!
stock of the Mldvale Steel Oo. (V. 101. p. 1095). the entire share capital
Checks
W. Harrlmau, Ambrose Moneil. Frank A. Vanderlip,
Samuel M. Vauclaln, Percy A. Rockefeller, Charles H.
95,000
def.sur.Sl ,393,672 sr$l,265,770 sur$784,513 def$159.384
Increased rates in 1918 promise improved results.
V. 106, p. 2646.
Latest Earnings.—Of sub. cos. for cal. year 1918 (partly est.), gross,
$13,403,446; net, $3,838,064.
Gross earnings for the cal. year 1919 are
estimated at $14,641,035, and net, $4,140,571.
;
Chicago (CC) ANY(O)
J.
1720.000
(192,977
193,009
Emerson McMIllin A Oo
1 1927
1 1922
Aug 24 17 $1 50
Q—F
Oct 15 '16 2%
"Q—M " June 1 '20 1H %
June 1 '20 1 H %
O—M
M A
S,Sept'20 to 1924
DIVIDENDS
or
Quar. end. Mar. 31—
tNet earnings
Dec '18-Dec '27
MAN May
$1,650,000 in t reasury and
Middle West Co.
1918-19.
1917-18.
$2,009,504 $1,955,211
1,812,185
1,716,975
897,672
675,373
D Dec 1919-28
Dec 1919-20
MAN May
g
5,000,000
1,000
A
%
5.000,000
125.000 shs
10,000.000
7.500,000
100
1.500.000
1919, in V. 108, p. 2525.
(Showingsub. co. chgee., Ac.
Sub. Companies
paid outside holders)— 1918-19.
1917-18.
Gross earnings
$14,641,035 $12,157,122
Net, after expenses, &c_
3,882,342
3,448,098
Int.on coll .notes,bds.,&c
1,983,174
1,715,190
Discount on securities..
85,017
77,167
Preferred dividends...f
420,478
389,971
Common divs. (cash)., j
do
in stock and scrip
Cuba.
M
100
100
1918
New York
May 1 1947
Junel 1939
Mar 1 1929
J
4
27,
Nov 1 1925
M
500 Ac
restricted to 40% of the amount of
REPORT.—For year ending April 30
M
J
5
5
May 1 1920
Payable
are
Nov 1 1940
M
None
pref. stock at any time outstanding and are to be secured by pledge of mtge.
Bonds, collateral trust notes and debentures of public service corporations
to an amount equal to 120% of all the notes outstanding, the rnige. bonds
so pledged to equal at least the amount of the notes
and further secured by
a second lien on all collateral covered by the bonds of 1915.
All series are
equally secured, but each will mature three years after the date thereof.
Series A, B and C are for $1.000.000 each.
In 1918 Series D and E were
created, the auth. amount of the former being $1,000,000 and of the
latter $800,000.
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.
On April
30 1919 there were outstanding $1,742,450 collateral loans
and $1,189,258 deferred payments on purchase contracts.
V. 106, p. 2525.
Balance, sur.
I*
I'
1 1918 to *20 $13,000; 1921
1927 $28,000:
to
$3,222,000
491,000
2,969,000
2,960.000
690.000
1916
UP
call 105
Q—F
MAS Mar 1 1930
5 g
500 Ac z43,227,500
Where Interest and
Dividends
and Maturity
Payable
$50 100,000,000
1916
Places
Last Dividend
When
Rate
[For abbreviations, dec., see notes on first page\
Mldvale Steel & Ord Co—Stock $150,000,000 (V 102 p 71oj
Collateral Trust conv s fd bonds, call, at 105 (text) Gc*Ar*
[Vol. 110.
AND BONDS
INDUSTRIAL STOCKS
1921.
Dividends
See voting
on pref. in full to Oct. 1919.
On common. April 1913
Yi % quar.; Jan. and April 1916. H%\ July div. was Increased
to 1%: Oct. 1916. 1%; 1917. Jan. and April, 1%; July. 1H%. and 25cents
extra to aid Red Cross contributions.
Oct. 1917 to July 1919. 1W% auar.
In Oct. 1919 and Jan. A Apr. 1920 paid % of 1%.
to Oct. 1915,
paid
Mat, 1920.)
INDUSTRIAL STOCKS AND BONDS
Date
Par
Amount
Bate
When
Bonds
Value
Outstanding
%
Payable
MISCELLANEO US COMPANIES
[For abbreviations, &c., see notes
on
first page]
Montana Power Co—Common stock $75.000.000—......
Do
(part of $75,000,000) dividends deferred (text)
Pref (a A d) stock 7% red 120 after 3 years $25,000,000.
Butte Elec A P 1st M g i f due part y ly June 1 Usm.xc*
Montana Power Transmission $750 000 g gu call 105
x
Madison River Power 1st M $5,000,000 g gu call 105
*
Great Falls Pow Co 1st M $15,000,000 call 107 M -Ba.xc*
First A Ref M $75,000,000 g red 105 beg July *18 s f_Q.yc*r*
Montgomery Ward & Co—Com. stk.,1,000,000 sh. auth.
Pref. stock 7% cum. $10,000,000 auth. red. taxt
Class "A" stock 7% cum. (see text)
Class "B" stock (see text)
M W Warehouse Assn. K O, pr stk 6% cum (aAd) ■ f redllO
Montreal Light. Heat & Power—Stock $22,000,000
First A coll trust mtge $7,500,000 g red 105 slnoe 1912..0*
Laohlne mtge $4,000,000 gold s f red 105 after 10 years. _o*
Prov L. H & P 1st M g gu p & 1 s f red 105 (V. 105, p. 394)
Cedars Rap Mfg & Pow Co 1st M $15,000,000 g s f call__c*
Montreal Light, neat & Power Consolidated—Stock
Morgan & Wright—See U 8 Rubber Co
Morris A Co—First mtge auth $25,000,000 g red 103-FCjrcAr
Motor Products Corp—Stock class A—.................
Stock class B
1st M
x
ser
$100 $43,633,300 4H%'19
100
1,000 y3,919.000
500 Ac d y512,000
1903
1905
1911
1913
1,000
1.000
5 g
$100,000 s-ann J&J call 101
See text
A
&
A Feb
Aug 1 1933
Payable
do
do
U S Mtge A Tr Co, N Y
do
do |
1 1935
do
MAN May 1 1940
J
A
J July 11943
Bankers
525,000
18,778,266 8
7,013,000
3,046,000
1,337,000
11,498,000
64,126,100
1.000
Q—J
Q—J
7
do
Tr
Co, N
T
Guaranty Trust Co, N Y
Q-F 15 Aug 1 *18 1H%
1919
Feb 16 *20
Q—F
2%
A
J Jan 1 1932
4X g J
A
A
O Apr 1 1933
§g
g
5
MAS Sept 1 1946
5 g
J
See text
16.750,000
75,000 shs.
None
5.000 shs.
New
New
500 Ac
600,000
0g
$5,782, 000
Excluding $883,000 uncanceled In sinking fund Dec 3119 19 and
so pledged,
y Closed mortgage,
w Excluding $11, 300 un canceled in S
Apr. 11920,1H
Apr. 1 1920. Wc
0
in
None
1917
D To June 1 1951
&
7
8,000,000
100
xc*
are
See text
1,000
1,000
$ A £
500 Ac
100
1909
i r2~0iH%
A
See text
1,000
1913
Apr
Dividends
H Checks mailed
F
5g
None
1903
1906
Apr 1 1920
Q—J
Places Where Interest and
Maturity
F
y2,021,000
x4.ll7.000
100
None
1902
and
J
100 Ac W22328.700
None
Last Dividend
Q—J
6,000,000
9,700,000 7 In 1919
100
1901
.....
notes g due
197
4H
A
J Jan
Q—F
g .TAJ
d under
1 1953
Checks mailed
/Company'soff, Roy.Bkl
I of Canada or N Y Agcy J
N Y, Montreal A London
New York
May 15 '20. 1H Montreal
J—J
Oct
1
1917
First Nat Bk, NY:AOhlo
$1 Empire Trust Co, N Y
Oct
Q—J
1
1917
$1
July 1 1939
Jan 1920 to 1922 First A Old Det Nat Bk
First A R ef Mtge of 1913, all
further
bonds
must
also be
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 ana 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 authorised bonds (a) $10,569,000
reserved to retire, par for par, all outstanding underlying bonds* (b) remain¬
der issuable only when net earnings are 1M times the entire bond 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 $1,675,000 or
same in treasury and $11,300 in sink. fund.
v. 106, p. 1039, 1342, 2014:
V. 107, p. 2293, 2372.
Butte Elec. A Power Co. 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.
88, p. 1623.
Madison River guaranteed bonds, see V. 81, p. 615, 1045;
V. 84, p. 511; V. 87. p. 1482; V. 90. p. 113.
Transmission 5s. V. 81. p. 015:
V. 69, p. 1251.
Of the Great Falls 5s of 1911/$4,117,000 are in hands of
public, $883,000 alive in sinking fund and $5,782,000 are pledged under 1st
& Ref. Mtge. of 1913, as will be any further issues' of
thel$15,000,000
anthorized.
See V. 101, p. 1631; V. 94. p. 985, 914.
EARNINGS.—For
3
months
ended
March
31:
W Surpl
'
1920
1919.
$2,070,022
$1,413,150
1,242,893
1,882,802
—_
$435,927
$977,222
"453,659
789.234
.
REPORT.—For year 1919, in V. 110, p. 1183. showed:
Cal.
Oross
Net, after
Interest,
Pref.Divs.
Common
Balance,
Year. Earnings.
Surplus.
Taxes.
$
Depr., Ac.
$
1919—
6,769.013
1918—_ 7,558,741
1917
*6,912,364
1916— 6,244,905
___
4,401,309
5,136,305
4,889,032
4,753 282
(7%p.a.)
$
2,105,677
2,086,110
1.745,604
1,669,735
$
Dividends.
$
677,026 (4%)1,673,801 def.55,196
677,026 (5%)1,916,208
456,961
677,026
677,026
(5%)1,654.958 " 811,443
xit
>1,067.364
1,339.157
DIRECTORS.—Pres., John D. Ryan; Vice-Presidents, Frank M. Kerr*
Butte, Mont., Frederick Strauss and Alfred Jaretski, N. Y.; W. S. Brayton*
Montclair, N. J.; George F. Canfield, Charles M. Clark, C. A. Coffin*
William E. Corey, Marcus Daly, S. Z. Mitchell, Charles H. Sabin, Albert H"
Wiggin. Frederic W. Allen, Henry Seligman, H. P. Whitney, all of New
York; C. J. Schmidlapp, Cincinnati; N. Penrose Hallowell, Boston, and
William D. Thornton, Butte, Mont.
Walter Duttoniis Sec. & Treas.,
42 B'way, N. Y.—(V. 109, p. 2269; V. 110, p. 1183.)
MONTGOMERY WARD & CO.,
INC—ORGANIZATION —Incorpo"
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 New York, Chicago, Kansas City,
Mo., Fort Worth and Portland, Ore.
V. 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, buggies, automobile tops, agricultural implements and many
Calendar
items.
'
Leases until Oct. 31
1925 building at Kansas City. Mo., from Montgom
ery Ward Warehouse Associates (of which entire common stock is owned)
the rental being $48,000 v«arlv plii« f?5 OOO fn retire the $750 000
euro
•
March 1920 that
Eref. stock, redeemable office and distribution buildingp. 240. be erected in
at 110 and dividend. V. 98, would Announced
l
an
the
mid-way district between Minneapolis and St. Paul at
750,000.
Plan
V.
a
cost of $2,-
110, p. 1419.
for New Illinois Corporation Incvrp. Dec. 1919 (V. 109, p. 1798, 1992).
The stockholders voted Dec. 2 1919 to reincorporate under laws of Illin¬
to dissolve the New York corporation.
The new company will
have the following capitalization:
ois and
Preferred Stock.—$8,000,000 par value $100.
7% cumulative.
Sinking
of amount outstanding to redeem preferred stock at not over
$112.50.
The entire issue can be called at $115 per share.
No mortgage
may be placed on the company's property without the consent of threequarters of all preferred stock outstanding.
Class "A" 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.
Class "B" Stock.—95.000 shares having no par value.
Entitled to divid¬
ends of $3.00 for each $1.00 declared on the common stock mentioned below
and entitled in event of liquidation to $3.00 to each $1.00 of assets dis¬
fund 2H%
tributed to the
common stock mentioned below.
Common Stock.—Authorized 1,000,000 shares no par value, of which 150,are reserved for sale to employees of the company, 510,000 shares
000 shares
outstanding in the hands of the public, and 340,000 shares are held by
(Geo. J. Whelan and associates).
same 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.
(6) The holders of the existing non-par value stock
were given the option to receive in exchange therefor share for share, either
Class A or Class B shares or both, in such respective
proportions as they
might elect!
(c) The common stock was disposed of as follows: 150,000
shares are reserved for sale to employees; 510,000 shares were sold to the
public,and 340,000shares are held by new interests in the company (Geo
J. Whalen and associates).
In April 1920 Halsey, Stuart & Co. offered $900,000
Montgomery Ward
Warehouse Corp. 1st mtge. (serial) 6% gold bonds, guaranteed principal
and int. by Montgomery Ward & Co., Inc.
V. 110, p. 1855.
are
interests in the company
Ail shares of stock have the
new
DIVIDENDS (on stock of old company).—On pref., 1.18%
Apr. 1 1913,
covering 2 mos. and 1 day, July 1913 to Oct. 1919, 1 M% quar.
Dividend
No. 1, $3 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.
andlCIass
"A,"
l%%,
paid April 1 1920.
SALES.—For the 4 months ending April 30 1920 sales aggregated $41 ,■
172,000, a gain for the period of 38.2%.
REPORT.—Report for
year
ending Dec. 31 1919, in V. 110,
p.
655JM
1919.
Reserve for
war
taxes___
Preferred dividends (7%)
Common dividends ($5)-
1917.
1918.
1916.
Balance, surplus
900,000
541,794
1,500,000
$2,152,376
2,000,000
527,615
1,289,594
350,000
350,000
1,500,000
1,575,000
1,575,000
*$2,362,566
$2,205,094
$2,625,791
#
OFFICERS.—-Chairman, C. H. Thorne; Pres., Robt. J. Thorne; Vice*
Pres., J. O. Maddison; Treas., J. I. Zook; Sec., Henry Schotfc.
Directors.—
J. C. Maddison, D. R. McLennan, Chas. D. Norton, 8. H. Strawn, Chas.
H. Thorne, G. Thorne, J. W. Thorne and R. J. Thorne.
Office, 618 W.
Chicago Ave., Chicago.—(V. 110, p. 655, 876, 974, 1295, 1419, 1531,
1855, 1977.)
MONTREAL LIGHT, HEAT & POWER CO.—ORGAN.—Controls the
eleotrlo 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 oapaclty of 28,000 h. p., viz., one hydraulic 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 for
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 allfixed charges, &c.. and 8% p.a. on all stock
of Montreal Co. and 3% on all Cedars Rapids stk. not exchanged on Aug. 1;
1916.
See V. 102, p. 2169.
Rate Increase. Ac., in April 1918.
V. 106, p.
1799.
Cedars Rapids Transmission Co. V. 107, p. 1104.
gas,
DIVS—1
Per cent-
J
*07. *08. *09. *10. *11. *12. *13. *14. *15. *105
0
0
7
8
9
10
10
10
10
1917 to Feb. *20.
2% quar. (Q-F)
SECURITIES.—Royal Trust Co., Montreal, Is trustee of both mtges.
Of the 4Hs 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 bonps
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. 73, p. 923.
The $1,358.000 Provincial L., H. A P. 5s are guaranteed, p. A i.
V. 88,p. 380.
Cedars Rapids Mfg. A 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.
OFFICERS.—Pres., Sir Herbert, S. Holt: V.-P.. J. S. Norris: Sec.-Treas..
O. S. Bagg; Asst. Sec.-Treas., G. R. Whatley.—(V. 107, p. 1104, 2293.)
rated in Illinois in Dec.
other
Years—
Sales
$99,336,053 $76,166,848 $73,512,645 $62,044,336
Net, after depreciation- $5,094,170
$6,390,181
$5,419,688
$4,550,791
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 to Oct. 1919,
$64,126,100.
In June 1919 owned 98% of the stock of both the Montreal
Lt., Ht. & Pow. Co. (which see above) and Cedars Rapids Mfg. Co. (V. 106,
823); operates their properties under leases running for 98 years frpm
Aug. 1 1916, assuming ail their 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 1920, 1H% quar.
REPORT.—For year ending April 30 1919 (V. 108, p. 2239) showed:
Gross, $10,939,273; net, $5,581,780; depreciation, &c., $1,996,598; preferred
dividends (4%), *$2,562,291; surplus, $1,022,891.
*
Includes $641,261 for divs. not paid till May 15 1919.
Pres
Sir Herbert S. Holt; V.-Pres., J. S. Norris; Sec. & Treas., C .8.
Bagg; Asst. Sec. & Treas., G. R. Whatley, Montreal.—(V. 108, p. 2239;
V. 109. p. 376.)
p.
.
MORRIS A CO. (PACKERS).—ORGANIZATION.—Inoorp. In Maine
Oct. 16 1903.
Owns packing houses, refineries, Ac., at Chicago, at Union
Stock Yards; East St. Louis, at Nat. Stock Yards: Kansas City, Kan.. St.
Joseph, Mo., Oklahoma City, Okla., and South Omaha, Neb., embracing
114 acres of land.
Dally killing capacity, cattle. 8.000: sheep. 0.000: hogs,
V. 95. p. 547; V. 91. n. 1510.
Reply to report of Federal Com¬
mission, &c.
V. 106. p. 185; V. 109. p. 376, 583.
25.000.
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
6tock yards and other outside interests (except their handling of eggs,
their
but¬
ter, poultry and cheese, which is left for future consideration) and in general
to confine their operations to the wholesale meat business.
V. 109, p.
2363; V. 110, p. 267.
8TOGK.—Auth.
and
Issued,
$3,000,000;
par,
$100.
Dlvs.
paid
for
12 mos. ending Oct. 1 1910. 14)4%; fiscal years ending Nov. 1 1911 and
1912. 6%; 1913. 12%; 1914. 15%; 1915. 25%; 1910. 33 1-3%; 1917. 5%.
BONDS.—Auth. Issue, $25,000,000; First Trust & Sav. Bank and Emil
K. Boisot of Chicago and the Mercantile Trust Co. of St. Louis, trustees
outstanding, $16,750,000, Incl. $6,250,000 sold in June 1919; $2,000,000
canceled by sinking fund; remainder, $6,250,000, 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.
REPORT.—For year ending Nov. 1 1919, V. 110, p. 463:
1918-19.
1918-19.
1917-18.
$
$
$
Total income
6,845,472 10,658,078 Oth.int. ,taz. ,&c3,518,453
Int.
on
Admin,
bonds
exp
_
575,750
2,047,626
487,500
1,662,633
Dividends,,(10)300,000
1917-18.
$
4,290,086
(10)300,000
Bal, surp..
403,642
3,917,859
OFFICERS AND DIRECTORS.—Nelson Morris, Chairman; Edward
Morris, Pres.; C. M. Macfarlane, V.-P. & Treas.; L. H. Heymann, V.-P.
George R. Collett, V.-P.; H. A. Timmins, Sec. & Asst. Treas.; Chas. E.
Davis, Ira N. Morris and M. W. Borders.—(V. 110, p. 267, 463.)
MOTOR
PRODUCTS
CORPORATION.—ORGANIZATION.—In"
corporated In N. Y. June 3 1910 (V. 104, p. 1595) as a consolidation of
Detroit and Ann Arbor cos. engaged In manufacturing miscellaneous prod¬
ucts from steel, brass and copper, and automobile radiators, motor car tops,
windshields, fenders, holds, mufflers, exhaust pipes, cowls, hubs and bub
caps,
motor
manifolds, Ac.
Tn
1916 purchased the Detroit plant
of the Lozier Motor Co
and concentrated operations therein, the Ann
Arbor plant of Superior Mfg. being the only other plant retained; also plant
at
Walkerville, Ont., V. 103, p. 941.
In Dec. 1917 purchased a wind¬
shield business. V. 106. p.
>
[Vol. 110.
INDUSTRIAL STOCKS AND BONDS
198
miscellaneous companies
Date
Par
Amount
Bate
Bonds
Value
Outstanding
%
Payable
Mountain States Tefep A Teleg Co—Stock $50,000,000 auth.
Mullins Body Corp—Com auth 100,000 shares
Pref (a & d)
stock 8%
cum
call for
s
f auth $1,000,000
Nash Motors Co—Com stock auth 52,000 shares no par val
Pref (a A d) stock 7 % non-cum auth $19,800,000 s f callable
National Acme Co—Stock $25,000,000
Nat Aniline fit Chem Co—Com stock auth 395,990 shares..
Preferred (a A d) stock 7% cum $23,524,700 call
In 1918
$100 $34,168,600
100,000 sh.
$100
1,000,000
None
52,000 shs.
100
4,191,000
50
25,000,000
None
373,990 shs
21,150,260
100
29,236,000
100
24,804.500
None 419,250 shs.
100
5,600,000
None
250,000shrs
500 Ac
4.661,000
120
National Biscuit—Common stock $30,000,000..
Preferred
(as to dividends) 7% cum $25.000.000
National Carbon Co, Inc—Com stock 1,000,000 shs. no par
Pref (a A d) stock 8% cum $5,600,000call 140
■.%
National Conduit fit Cable — Stock 250,000 shares..
First M 10-yr s f g bonds red $5.000,000
Ba
1917
Stock authorized, 100,000 shares with no par value, divided Into 5,000
Class "B," having full voting power, and 95,000 class "A" without voting
power.
If the company falls to earn $5 per share per annum for two suc¬
cessive years, both classes of stock will have full voting power.
Issued in
June 1916 65,000 shares class "A" and 5,000 class "B."
A syndicate
underwrote 50,000 shares of class "A."
(V. 102, p. 2171.)
July and
dividend
Dividends, No. 1, April 3 1917, $1 per share on both classes;
1917, $1 per share on both classes.
Action on Jan. 1918
deferred.
V. 105. p. 2460; V. 106. p. 1794.
Oct. 1
Q—J
7
text
None
In71919
7
,
15
s c
Q—F
8%
Q—F
Q—M
Places
Last Dividend
When
[For aooretnatums, Ac., see notes on first pagel
Where Interest and
Dividends
and Maturity
New
Apr 15 *20 \%
York
are
Payable
and
Denver
$1 Central Union Tr Co N Y
May 1 1920
do
do
1920 2%
Feb
1
'20 $10 Commonw Tr Co, Boston
do
do
May 1 1920 1J£
June 1 1920 1M Checks mailed
Feb
1
July 1 1920 1 *A Checks mailed
Q—J
In 1919 Q—J
15 July15 1920 ik First National Bank, N
do
do
in 1919
Q—F
May 29 '20 1K
Y
Checks from N Y Tr Co
Q—F May 1 1920 $1
do
do
Q—F
May 1 1920 2 %
Oct
1
1917 $1 Office, 41 Park Row, NY
Q—J
Bankers Trust Co, N Y
A
&
O Apr 1 1927
8
6~g
OFFICERS.—A. W. Henn, Pres. & Treas.; E. C. Henn, V.-Pres. A Gen.
Supt.; N. S. Rathburn, Sec. & Asst. Treas.; Neal W. Foster, Asst. Treas.r
Windsor.—(V. 110, p. 366, 1855.)
NATIONAL ANILINE &
Beckers
Falls,
and
Standard
N. Y.—ORGANIZA¬
acquired the Schoellkopf,
Brooklyn and Wapplnger
CHEMICAL CORP.
TION.—Incorp. in N. Y. State May 26 1917
dye plants
ana
Buffalo,
at
NjjY.. respectively, also aniline oil plant of Benzol Products Co. at
Marcus
Hook, N. Y.t Ac.
The General Chemical Co. (see official state¬
109, p. 1791). Barrett Mfg. Co. and Semet-Solvay Co. jointly own
majority or the stock (V. 108. p. 1169).
In March 1919 was said to be
producing 55% to 60% of the country's output of colors.
was
ment. V.
BONDS.—The First Mtge. notes of 1917 (originally $1,000,000), are a 1st
Hen on the properties In Michigan, formerly belonging to Lozier Motor Co.
a
callable in numerical order.
V. 104, p. 1268, 1595; V. 107L p.2294.
1917, In V. 106. p. 1794.
1916.
1917.
1918.
Net sales
$6,479,575 $9,633,082
Net profits before deducting Federal taxes
$537,527 $696,961
Pres., W. O. Rands.—(V. 105, p. 393, 2460; V. 106, p. 92, 1794; V.
107, p. 2294.)
They
are
REPORT.—For cal. year
MOUNT
VERNON WOODBERRY
1825, 1940; V. 110, p. 1855.)
TELEPHONE
STATES
MOUNTAIN
COTTON
&
MILLS.—(V.
110, p.
CO.—OR¬
TELEORAPH
GANIZATION,—Operates
over approximately 780,000 square miles, Incl.
Colorado, Utah, Idano, Montana, Wyoming, New Mexico, Arizona and a
part of Texas.
Total stations Dec. 31 1919, 325,443.
V. 98, p. 1997,
Amer. Telep. & Teleg. Co., owning 70% of the stock offered in July 1919
to buy the minority shares on or before Sept. 30, giving $100 of its own stock
for each $114 28. V. 93, p. 1195; V. 96, p. 793; V. 98. p. 916,11997. Div.
Oct. 15 1911 to
April 1920, 7% yearly (Q.-J.). Telephone rates in 1918-19,
common, 395,990 shares, no par; pref., $23,524,700;
23 1919, 22,000 shares or com. and
23,721
A majority of the stock is held In a voting trust which runs
Voting trustees, Wm. H. Nichols, H. H. H. Hands,
Wm. H. Childs, W. J. Matheson and Eugene Meyer Jr.
V. 108, p. 2026.
STOCK.—Auth.,
pa** $100.
shares of
DIVIDENDS.—On pref. stock July 1 1918, 3 K %: thereafter
1920; also 3H% on accumulations Jan. 15 1919.
REPORT
for cal.
oper. income,
year 1919 showed: Not oper. revenue, $1,831,820;
$1,249,957; gross income, $2,935,105; net income, $2,787,673;
REPORT.—For calendar
In V. 109, p. 267, shows: Profit,
$5,980,497; other income, Cr.$331,889; Federal taxes, inventory, losses, Ac.,$2,091,538: pref. divs. (10)4%), $2,262,880; surplus, $1,957,968.
Pres., Orlando F. Weber; Sec., Henry F. Atherton.
N Y, office, 21
Burling-.Slip.—(V. 110, p. 769.)
"MULL1N S' BO dVcoUpI—ORGANIZATION :=-tncorp7 In~NeVYork
STOCK.—Stockholders of record Nov. 28 1919 were given the right to
subscribe until Doc. 9 at $44 a share for 30,000 shares or new
portion to 3 to 7 increasing the total outstanding to 100,000
par
value.
1
V. 109, p. 1897.
Annual sinking fund for
stock in pro¬
shares or no
pref. stook, 5% of net earnings after pref. divs.
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
Com. div. increased to $1 in Feb. 1920; same
paid Nov. 1 1919.
paid in May 1920.
was
amount
Ml
Cal.Yrs.
Sales.
Net..
1914.
1915.
1916.
1917.
$679,134 $1,431,429 $1,450,481 $1,916,898
$70,342
$384,417
$400,947
$313,945
OFFICERS.—W.
1918.
1919(7 mos.)
$2,493,194 $1,667,837
$245,384
£$282,879
year
1918
NATIONAL BISCUIT CO.—Incorp. In N. J. In 1898.
V. 66. p. 288.
901; V. 7i, p. 545; V. 77, p. 92; V. 93. p. 669; V. 97. p. 599; V. 106, p. 292.
In May 1919 purchased the real estate covering the entire block on West
16th St., N Y. City, occupied by its Nov* York plants.
DIVS.—
Common,
1912 to July 151920.
11900-05. '06. '07. '08. '09. '10. '11.
reg..\i
yearly
5
5*4
5K
6
6
7% (IK % Q.-J.)
6K
REPORT.—For year ending Dec. 31 1919 (V. 110, p. 259),
Years ending—
Dec. 31'19
Dec. 31'18
Dec. 31'17
Net profits
$5,349,863
Common dividends (7%). 2,046,520
Preferred divs. (7%)
1.736,315
sinking Ac., funds, $25,000; dividends, $2,690,779; surplus, $71,894.
Pres., B. S. Read; Sec., J. E. Macdonald.
Office, Denver, Colo.—
(V.il09, p. 177, 482; V. 110, p. 566, 1093.)
,, •,
r
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, &c.
1K% quar.
to July 1
V.
106, P. 186; V. 107, p. 507; V. 108, p. 385.
Court decision affecting
rates, V. 109, p. 178, 1897; V. 110, p. 566.
Rates ordered reduced; suit
filed, V. 109, p. 2269, 1093.
Colorado Supreme Court reverses decision in
which it was held that the company was a trespasser on the streets of
Denver.
V. 110, p. 1093.
Rebate ordered, V. 110, p. 1855.
In treasury Aug.
prof.
until April 20 1923.
$5,135,840
2,046,520
1,736,315
$4,622,348
2,046,520
1,736,315
showed:
Jan. 31 '17
$4,579,306
2,0465,20
1,736,315
$1,567,028
$1,353,005
$839,513
$796,471
A 1. surplus Dec. 31 1919, $19,328,812; reserve for taxes,
Balance, surplus
Total p.
$1,200,000.
OFFICERS.—W. H. Moore, Chairman of Board; R. E. Tomlinson,
Pres.; H. J. Evans, T. S. Olllve, R. A. Falrbairn, J. G. Zeller and O. F.
Bliss, Vice-Presidents; G. P. Wells, Sec. A Treas.
Office. 405 West 15th
St.. N. Y.—(V. 110, p. 172, 259.)
NATIONAL CARBON CO., INC.—ORGANIZATION.—Incorp. Jan.
15 1917 under laws of N. Y. State for the purpose of manufacturing, buy¬
ing and selling carbon In all Its various forms, as well as dry batteries,
storage batteries, starters, lamps, machinery, devices and appliances or
every nature. Ac.
Succeeded through exchange of stock to tne property
and business of the National Carbon Co.. a New
latter company has been dissolved.
(V. 104, p.
Jersey corporation, which
261, 858.)
Plants at Cleveland, Fremont, Fostorla-. Ohio;
St. Louis, 111.; San Francisco, Cal., Clarksburg, W.
Noblesvllle, Ind.; East
Va., Jersey City, N. J.,
Niagara Falls, Long Island City and New York, N. Y.
The company
owns the entire capital stock of the Canadian National Carbon Co., Ltd.,
Toronto; auth. Issue, 30,000 shares of no par value; Issued, 6,000 shares.
V. 106, p. 1581.
■
■
>
.
CAPITAL
STOCK.—Pref.,
see
All of the com. stock is
which see below, and V. 105,
table above.
Mullins, Pres.; R. M. Modisette, V.-P.; O. C.
Gibson, V.-P. & Sec.; H. O. Nelson, V.-P. & Gen. Mgr.; W. P. Carpenter,
Treas.
Main office. 120 Bway., N. Y.—(V. 110, p. 566, 1648, 1753.)
owned by the Union Carbide & Carbon Corp.,
NASH MOTORS CO.—ORGANIZATION.—Incorporated In Maryland
July 28 1916 at direction of Lee, Higginson & 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 acres of land in Milwaukee in 1919 and is
erecting a new plant for the production of four-cylinder cars.
Is also
making additions to main factory at Kenosha, Wis.
Capital stock, see
table above; no bonds.
The (non-voting except in case of non-payment of
five quar. divs.) pref. stock is callable up to Nov. 1 1920 at 105 and divs.
and thereafter at 110 and divs;. 2% sinking fund will begin in 1920.
Dividend on pref., Nov. 1 1916 to May 1 '20, 7% p. a. {1K% quar.);
Initial dividend of $6 on common stock paid Feb. 1918: Alay 31 1918, $l£.
Feb. 1 1919, $10; Aug. 1 1919, $6; Feb. 1 1920. $10.
May 1 1920, Incl., at the rate of $1 per share per quarter on the common
and 2% per quarter on the preferred, the latter being 8% cum.
H.
REPORT.—For fiscal year ended Nov. 30 1919 In V. 110, p. 656, showing
profits, after allowing reserve (for Federal taxes), $5,089,035; pref. div.,
7%, $336,000; divs. on common stock as above stated, $832,000.
Pres., Charles W. Nash Kenosha: Chairman, James J. Storrow. Boston.
—(V. 109. p. 277; V. 110, p. 656. 665.)
net
NATIONAL ACME
CO.—ORGANIZATION.—Incorp. In Ohio (about
Dec. 1 1916) to take over the assets, Ac., or the National Acme Mfg. Co.,
of Cleveland
(Incorp. In Ohio Sept. 20 1901) manufacturers of automatic
ecrew
machines and milled screw products.
Owns and operates 3 plants:
(1) Cleveland (floor space over 10 acres). new 7-acre plant put In operation
in 1919; (2) Windsor, Vt., 4 acres of floor space; (3) Montreal, making
standard and special milled parts.
V. 103, p. 2347; V. 105, p. 1903.
8TOCK.—Oanital stock, auth.. $25,000,000, all outstanding: par, $50
No pref. stock, mortgage or funded debt.
V. 103, p. 2347; V. 104, p. 1903
DIVIDENDS.—March
June
1
1920,
1K%
1917 to Dec.
1
1919, 1^% quar.; March
and
quar.
EARNINGS.—For quarter
ended March 31—
<
1320.
Net profits before est. Federal taxes.
Dividends
Surplus...
_
1919.
1918.
$4,847,517
1,661,641
437,500
$2,700,684
756,630
375,000
$3,483,788
1,225,970
375,000
$1,224,141
Net sales
$381,630
$850,970
EARNINGS.—Year 1919 in Y. 110, p. 1855:
1919.
1918.
1917.
1915.
I
1914.,
Net sales
$12,240,990 $14,193,754 $16,630,563 $8,447,228 $4,585,334
Net earnings.
2,917,167
4,545,451
5,164,301
2.804.296
910,394
.
Taxes
I
Dividends...
500,000
1,497,997
2,200,000
1,500,000
Surp. for year
$919,170
$845,451
1,600,000/Not stated for these!
1,500.0001
years.
J
$2,164,301
L__
1425.
p.
DIVIDENDS.—These have been paid quarterly
from
May 1 1917 to
OFFICERS.—Chairman, James Parmelee; Pres., E. F. Price; Treas.,
Sec., H. E. Hackenberg.—(V. 106, p. 713, 431, 1581.)
W. M. Beard;
_
NATIONAL CASH REGISTER CO.—(V. 108. p. 683 . 892.)
NATIONAL CLOAK & SUIT CO.—(V. 109, p. 683,
*897; V. 110, p.
656.)
NATIONAL CONDUIT & CABLE CO., INC.—ORGANIZATION.—
Incorp. in N. Y. April 25 1917 and took over the assets and business of the
National Conduit A Cable Co., Ac.
Manufactures cables and wire,
brass rods,
copper sheets and other copper and brass products.
Has its
own
barges, lighters, tugs, Ac.
Owns modern plant at Hastings-onHudson, N. Y.. covering 35 acres.
8ee description furnished N. Y. Stock
Exchange in May 1917, Ac.
V. 104, p. 2460, 1494, 1391.
old
STOOK.—Capital auth. and outstanding, 250,000 shares; no par.
clared
capital,
Stock listed on
$8,758,000.
N. Y.
De¬
Stock Exchange In
V. 104, p. 2347, 2645.
Dividend of $1 per sh&repald July 16
1917: Oct. 1. $1.
Jan. 1918 div. omitted.
V. 105. p. 2460; V. 106, p. 92.
June 1917.
BONDS.—Annual sinking fund 2)4%, also In any year, after $4 a share
has been set aside for the stock, 50%
deemable at 105 and Int.l V. 104, p.
of the excess earnings.
1391, 1494, 1596.
Bonds
re¬
REPORT.—For year ended Dec. 31 1919, in V. 110, p. 975. showed:
Calendar Years—
1919.
1918.
1917.
,
.
$10,557,836 $14,011,664 $20,318,538
$1,231,684
Manufacturing profit
loss$621,970
$520,703
Total income.
loss$451,543
$619,700
$1,318,113
Interest, taxes, &c_
$345,073
$427,613
$625,574
Dividends
500,000
Deductions...
319,723
1,052,909
171,494
Balance, sur. or def
def.$1,116,340 def .$860,222 sur.$21,045
Total profit and loss, sur. or def_.def.$1,946,117def.$839,777 sur.$21,045
Quarters ending March 31—
1920.
1919.
1918.
Net sales.
$3,638,354
$3,084,469
$2,485,846
Manufacturing costs and expenses
3,520,703
3,167,151
2,612,685
Other income
L
Cr.14,592
Cr.23,071
Cr.13,580
Taxes, charges and depreciation._.i._
146,066
160,083
179,154
Gross
sales
_
Deficit for period
$13,823
$219,694
DIRECTORS.—President, H. J. Pritchard; James
K. Prichitt, J. C. Baldwin Jr., Albert H. Wlggin,
$292,413
J. Watson Jr.,
C. E. MitchellAndrew Fletcher, Stephen O. Mlllett, Michael Gavin, C. G. Galston.
G. F. Bauer and O. R. McMahon.
The V.-Prestdents are Q. H. Hawley
and W. S. Eckert; Sec. A Treas, is Georgs F. Bauer.—(Y. 109, p. 771,1446,
2176; V. 110, p. 975, 1978.)
H.
Date
Par
Amount
Bate
When
Last Dividend
Bonds
Value
Outstanding
%
Payable
and Maturity
1909
1,000 Ac
COMPANIES
MISCELLANEOUS
[For abbreviations, Ac., see notes on first
page]
$100 $15,591,800
National EnamellngA Stamping—Common stock $20,000,000
Preferred stock (a & d) 7% cumulative, $10,000,000
Refund 1st M real estate Blnk fund g red text
Ce.xo&r*
National Fireproof in a—Common stock
Preferred
stock
7
60
$4,500.000
50
non-cumulative $8,000.000
$125,000 yrly red 102}*--UPI.xo*
7%
6
10.000.000
2.160.000
4,461.300
7,900.500
1,624.000
100
19l2
1st M and OollTr g due
1,000
Fuel Qa% Co—Stock $32.000,000
—----National Lead Co—Stock common $25,000,000 authorized..
Pref (also as to assets) 7% cum $25,000,000red since 1910 .
National Sugar Refining Co of N J—Stock $10,000,000.
National Transit Co—Stock $0,362.500
Nev-Cal Elec Corp—Common stock $20,000,000
100
100
100
12.60
—-
100
100 &c
200 Ac
1916
ser
1916
1907
1,000
500 Ac
bl,904,000
CO.—ORGANIZATION.—
See prospectus, Ac., V. 68, p. 187: V. 76,
Jan. 21 1899.
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.
Contract icith St. Louis Coke A Chemical Co.—In Aug. 1919 entered Into a
5-year contract to purchase at flexible prices (dependent on the Chicago
price of pig 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 Sf. Louis Coke & Chemical
Co.
The last named company in order to provide for this new construction
sold $5,000,000 8% cum. pref. stock. See V. 109, p. 680, 781.
Capitalization of St. Louis Coke Chemical Co.—
Authorized.
Issued.
Pref.(a.&d.)stk.8%cum..call 125: divs.Q-M(par$100) 10,000,000 $5,000,000
Common stock (par $5)
1,000,000
1,000,000
-
May
having purchased $1,250,000 pref. stock In
1919,
aforesaid St. Louis Coke & Chemical Co., offered at par to Its own share¬
holders the remainder $1,453,400 (underwritten) of the National's $10,000,000 pref. stock. V. 108, p. 2129, 2635: V.
DIVIDENDS.—
1902-04.
1905.
109, p. 77.
1906-16.
1918-1920.
(1>* guar.)
1917.
(%)
4 yearly
1}*
None
4
6
On preferred in full declared to Dec. 31 1920, 1*4% quar.
In Feb. 1920 a dividend of 6% was declared on the common
On
common
able 1 }*% quarterly Mar. 20,
stock, pay¬
V. 110, p.770.
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; $1,350,000 retired
to Dec. 31
_
$1,072,081
1919__$5,814,610 *$2,928,343 $271,623 $649,131 $935,508
935.508 sur 1.239,495
*3.045,571
272,306
598,262
623.672 sur.3,023,621
♦4,518,548
272,993
698.262
sur. 1,819.540
1910- 3,679.762
2.857,327
439.525
598.262
*
After deducting reserve for Federal taxes.
Pres., Geo. W. Niedringhaus; Sec., E. H. Schwartzburg, Treas.; George
V. Hagerty.
N. Y. office, 411 Fifth Ave.—(V. 109, p. 77, p. 683, 780;
V. 110, p. 770, 1085.)
1918— 5,072,050
1917— 6.460,780
_
_
NATIONAL FlREPROOFING CO.—Incorporated In 1889: name was
changed In 1899 from Pittsburgh Terra Cotta Lumber Co.
Controls 23
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, flreproofing, hollow tile, building blocks, Ac.
Properties owned,
see V. 72. p. 296.1191: V. 70. p. 651:
V. 94. p. 68 7n6: 1060: V 95. i> 53.
Notes payable Dec. 31 1918. $350,000. against $690,000 Dec. 31 1917.
authorized $2,500,000 refund'g
V. 94. p. 1452; V. 95, p. 53, 424, 893.
BONDS.—The stockholders July 25 1912
bonds maturing $125,000 yearly,
DIVS.f'00. '01. '02/ 03. *04. *05. *00. *07. '08. '09.
Com
1%
J
&
'20
See text
A
&
&
do
'
Checks mailed
Cheoks mailed
IH
J Jan. 1 1946
Jan
do
1
July 2 1920 3
Apr 1 1920
J
do
1 '20-*32
June 15
6
6 g
15'15
1
1 1921
O April 1 1927
J Sept 1 1936
N
Y, Bankers Tr: Denv
International Tr Co.Den
do
do
N Y, Guar Tr, & Denver
N Y Chic & Denver
DIRECTORS.—E. J. Cornish (Pres.), G. O. Carpenter and R. P. Rowe
(Vice-Presidents), K. 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. Taylor, J. R. Wettsteln and
(V.-Pres.).
Sec. Is Charles Davison; Treas., F. R.
office, 111 B'way.—(V. 110. p. 876. 1524.)
NATIONAL
Norrls B. Gregg.
Fortmeyer.
N. Y«
LEATHER CO.—See Swift A Co. below and V. 110, p.
1419, 1747.
NATIONAL OIL CO. OF N. J.—V. 110, p. 267, 471.
NATIONAL SECURITIES CORP.—See V. 108. p. 1064, 2635.
NATIONAL SUGAR REFINING OF NEW JERSEY—Incorporated In
Jersey on June 2 1900 and took over the New York Sugar Refining
(Doscheri
refinery. Long
Island
City,
the Mollenhauer refinery,
New
Co.'s
Brooklyn, N. Y. (dismantled as a refinery in 1918 and leased for warehouse
V. 109, p. 178), and the National refinery, Yonkers, N. Y. Ameri¬
can Sugar Ref. Co. in June 1918 owned $2,428,900 stock. V. 91, p. 1577;
V. 92. p. 1377; V. 93, p. 535; V. 98, p. 307.
purposes,
STOCK.—V. 92, p. 326. 666,1377; V. 95, p. 115,424, 1276.1400.
Divs.
stock, 1 }*%. paid Apr. 1913 to Oct. 1917; Jan., 1918 to Apr. 1920,
1%% quar.; July 1920,3)4%.
Divs. on old pref., 1}*% (Q.-J.), paid Oct.
1900 to Jan. 1913. tncl.; divs. on old com., 10% in 1903 and 15% in 1904.
No bonds.
Bal. sheet Dec. 31 1912, V. 96, p. 419.
Financial status in
on new
July 1919. V. 109, p. 178.
Pres., J. H. Post; V.-P., Thomas A. Howell;
Treas., H. F. Mollenhauer; Sec., Geo. R. Bunker.—(V. 95, p. 1406; V. 90.
p. 365, 419; V. 105, p. 2189; V. 106, p. 927, V. 109, p. 178; V. 110, p. 2081.)
1919.
REPORT.—For year ending Dec. 31 1919, In V. 110, p. 770
Total
Net
Interest
Pf. Divs. Com.Divs.
Balance,
(4&6%). Surp. or Itef.
Year. Incorre.
Profits.
Sk.Fd.,&c. (7%).
Cal.
Pref..%
Jan
Tr, Co, N Y
mailed
Apr 15'20 2V*% Paid by check
June 30'20 1K% ill Broadway, New York
Q—J 30 Oct 30 '18.
text
Is
do
do
m Cheoks
*19 JAD 15
at ,783.000
1911
p.
STOCK.—In
7 in 1919
40 in
Guaranty Tr Co, N Y
Central Union
Aug 25 "03
Q—J
Q—M
Q—M
Q—J
7 in 1919
Dividends are Payable
text
MAS Sept
5 in 1919
200 Ac
NATIONAL ENAMELING & STAMPINO
on
g
text
D June 1 1929
A
Where Interest and
Places
Mtge additional to above,
a b Pledge under First Lien
of "a" $186,000 of "b"$686.000
Incorp. In N. J.
5
10% 1919
336,800
120,200
1920
J
Q—F
Q—J
8.428.500
7.069,000 See
8.123.800
100
authorized
authorized..—
______
call 105 till Jan 1921_c»Ar*
Convertible debentures (convertible into pref stock)
One-year conv notes auth $200,000 call par
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*
stock $10,000,000
"A" $15,006,000
First Hen
See
See
Q—M
Q—M
5 g
18.500.000
20,655,400
24,367.600
10.000,000
6.362,500
National
Preferred
199
INDUSTRIAL STOCKS AND BONDS
May, 1920/1
0
4H
0
0
0
0
0
1919, in V. 110, p. 1855, showed:
7
5
7
IK
.%(... '3&
REPORT.—For
7
7
5}*
0
$134,936
100,000
loss
Depreciation, &c
2
5
1918.
1919.
Calendar Years—
Net earnings.
1
$5,840
100,000
'10-'14. *15. '16-'19
4yrly.
1
0
0
0
0
1917.
1916.
$100,412
170,029
x$301,865
162,458
NATIONAL TEA CO.—(V. 109, p. 780, 1897.)
NATIONAL TRANSIT CO.—ORGANIZATION. Ac.—Incorp. In Penn¬
sylvania In 1881.
Owns pipe line in Penna. Formerly controlled by Stand¬
ard Oil Co. of N. J., segregated In 1911.
V. 85, p. 210, 790; V. 93, p. 1390.
On Feb. 2 1916 shareholders voted to reduce the capital stock from
$12,727,575 to $6,362,500 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 A MachlneOo. was Incorporated in Penn. on Nov. 26 1915; capital
stock, $2,545,000 (increased on April 1 1918 to $3,181 000) in $25 shares
to take over (has consent of Penn. P. S. Comm.) the company's plant
a|; Oil City
Pa., for the manufacture of pumps, engines, compressors,
tools, fitting!, Ac.; all of the capital stock will be held by the National
Transit Co.
V. 101, p
1890. 2149 V 93 p. 669.
DIVIDENDS.—1912 to
1914.
12% per ann.; 1915. 8%; then none to
Dec. 15 1916, when 4% was paid; 1917, 8%; 1918, 16% (8% s a); 1919,
June. 4% (50 cts. on $12}* share) and 4% extra; Sept. paid $2 (16%) extra;
Dec. 4%' (50 cts.) and 12% ($1 50) extra.
In 1920: Mar. 15, 4% extra.
June 15 reg. 4%, extra 4%.
Total surplus 1918, $4,275,446, agains
$3,678,193 Dec. 3i 1916.
884:
1917.
1916.
1915.
$820,405 $1,208,891
$1,024,631
(8)509,000
(4)254,500(8)1,018,207
Pres. & Gen. Mgr., F. D. Williams; Treas., D. R. Mackenzie; Sec. S. R.
Ball.
Directors: C. C. Baker, T. L. Blair, S. R. Ball, D. R. Mackenzie,
C. E. Martin and L. C. Longaker.
Office, Oil City, Pa.'—(V. 110, p. 172,
REPORT.—For year 1918, V.
1919.
1918.
108,
p.
Net earns.._$2,723.025
$1,620,963
Divs _.(40%)2,545,000(16)1018,000
770, 2081, 2197.)
Balance,
sur. or
def-def.$234,936
def.$94,160sur.$139,407 def.$69,617
property.—V. 110, p. 1532.
DIRECTORS.—(Chairman) H. M. Keasbey, (President) E. II. Straub,
J. S. Craig, A. S. Beymer, J. J. Fisher, D. M. Campbell, Sidney F. Heckert,
Charles McVillian, E. W. Gwinner and W. M. Scaife.
Treasurer is J. P.
x
Includes in 1917 $42,459 profit on sale of
Bobbins and C. G. Jones is^Secretary.—(V.
NATIONAL
FUEL
GAS
110, p. 1532, 1855.)
CO.—ORGANIZATION—Incorporated
Natural Gas Trust.
Owns all or a ma¬
jority interest in the capital stocks of five gas producing and selling com¬
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.
Divs. Q.-J. 15 at rate of 10% p. a.
Dec. 8 1902 in N. J., succeeding
REPORT.—For cal. year 1918,
Calendar Years—
In V. 108, p. 2627, shows:
1918.
1917.
Inc. or Dec.
$8,604,623
inc.$481,645
4,446,495
dec.$500,881
1918, $13,682,377.
Pres., W. J. Judge; V.-P.,
Glenn Ford McKinney; Sec. A Treas., H. P. Smith.
N. Y. office, 26
Broadway, N. Y.—(V. 106, p. 605, 1799; V. 108, p. 2027. 2627; V. 110,
$9,086,268
3,945,614
Total
earnings
Net earnings, after taxes
Total surplus Dec. 31
1855.)
p.
NATIONAL ICE & COAL CO.. N. Y.—(V. 110, p.
1855.)
CO.—ORGANIZATION.—Organized in New Jer¬
It controls extensive plants in different Stares for
manufacture of white lead. Ac. V. 89, p. 223; V. 100, p. 1572, 1581.
Also
United Lead Co. (V. 84. p
697. 160), Magnus Oe. (V. 1O0
p.
»OU;
U. S. Cartridge Co. of Lowell (V. 90, p. 631; V. 104, p. 1383; V. 110. p.
1524), and Matheson Lead Co. (V. 95, p. 115); last-named have outstand¬
ing $1,000,000 5% bonds: Bass-Hueter Paint Co. (V. 104, p. 1383), Carter
White Lead Co. and Williams, Harvey A Cb., Ltd., tin smelters: Baker
Castor Oil Co., Cinch Expansion Bolt A Eng. Co., River Smelt. & Ref. Co.
and St. Louis Smelt. A Ref. Co.
During 1919 sold all of the capital stock
of Heath A Milligan Mfg. Co. and purchased the property of Hirst A Begley
on
Dec. 7 1891.
Works.
110,
p.
1524.
STOCK.—Pref. Is callable at par.
V. 60, p. 349; V. 88. p. 1376.
1911 to '15. '16-17.
'18. '19.
'20.
Common
(%) 3
434
5
5
4M 3 yearly
4 y'ly
5
5
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 1920: March 1H%, in June 1}*%.
DIVS.—
ANNUAL
'06.
'07. *08. '09. *10.
REPORT.—Report for 1919. V. 110, p. 1524, showed:
1919.
1918.
1917.
$2,926,828
$2,987,073
$3,191,221
(5%)1,032,770(*5) 1032,770 (5)i,032,77o
Net, after 7% pref. divs.
Divs. on common
STOCK.—Pref. stock is entitled to dividends at rate of 6% for 1917 and
7% thereafter, and in the event of
stock to par
1916.
pref., 1915. 2%; 1910. July. 2}*%; Oct., 1H%;
1917, Jan., 114%, completing payment of all dividends to Jan. 1 1917*.
April 1917 to Jan. 1918, 1}* quar.; Apr., July and Oct.. 1918, 134%.
BONDS.—The 6% First Lien gold bonds, series "A",(V. 102. p. 2171;
V.103,p.1035), onDec.311919 were secured by deposit of $10,773,000 bonds
on the the properties of which $5,130,000 have a first lien: also by $10,319,600 (over 99%) of their stock. V. 109, p. 780, 1077; V. 107, p. 1290, 1196;
106, p. 195.
Of the $15,000,000 Series "A" bonds, sufficient are reserved to retire
the Nev.-Oal. and South. Sierras 1st M. 6s outstanding. The remainder can
be issued only for new property and acquisition of additional 1st M. bonds
of its subsidiaries or for working capital, but only when the net earnings are
V.
134 times the interest requirements on all outstanding bonds and those to
be Issued.
Subsequent series, "B." Ac., may be issued for 80% of the cash
are
1H
When
or
*
Excl. extra 1 }*
%
on
$1,894,058
$1,954,303
$2,158,451
$445,751
acct. Red Cross and United War Work Campaign.
properties, Ac., but only when the net earnings
charges shall be reduced to 1 J* times such Interest
Semi-annually, beginning In 1921, a sum equal to H of 1
to Interest
requirements.
% of all First
be used to cancel Series "A.
These
bonds are subject to call at 105 and Int. on or prior to Jan. 1 1921, or at
103 and Int. after that date.
The authorized $1,500,000 Convertible Debentures, due Apr. 1 1920, were
callable at 105 and int.. until Apr. 1 1919 and thereafter at 102 and Int..
and were convertible until Apr. 11919 into pref. stock in the ratio $150 pref.
Lien bonds then outstanding must
_
stock for $100
E^mnsS and
,
.
.
,
debentures.
REPORT.—Year 1919, in V.
Calendar Years—
Earnings from all sources
1917.
$1,997,969
$2,158,707
1,036,452
919,878
$1,122,254
$1,078,091
118,553
121,318
93,102
$635,611
$549,775
62,357
Cr. 12,572
(5K)318,271(6%)352,006
422.211 def.Sl2,537 sur.$67,564
additional.profit3,689 loss$27,527
loss$2,415
Lawrence C. Phipps, Jr., Denver, Colo.—
Pres., E. S. Kassler; Treas.,
(V. 110, p. 770.)
770. showed:
1919.
1918.
$2,584,181
1.178,420
$685,647
Dividends
surplus
p.
204,301
Operating profit.—
Deductions—Interest
Depreciation
Discount and adjustments
Net increase in
llu,
$1,405,761
taxes.
$1,271,967
(4)826,216
plants
times the Interest on all outstanding bonds and those proposed.
bonds have been redeemed proportion net earnings
all series "A"
Int. in earns, of oth. cos.,
Surplus..
liquidation, has preference over common
and accrued dividends.
DIVIDENDS.—On
cost of additional
NATIONAL LEAD
sey
NEVADA CALIFORNIA
ELECTRIC CORPORATION.—ORGAN¬
IZATION.—(See Map.)—Incorp. in Delaware on Dec. 14 1914, and has
brought under one control ana management (V.102. p. 2171), 7 hydro¬
electric plants having a capacity 49.000 h.p.; also steam plants of 11,287
h.p.: total, 60,287 h.p., with 1,330 miles of high-tension lines and 459 miles
of 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.
[VOL. 110
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BLYTHE
b
PROPERTIES
AND
Scale of Miles
0
10
20
30
40
POWER
,50
DEVELOPMENTS
OF
LEGEND
Power Houses
THE NEVADA-CALIFORNIA
Proposed Power Houses
Transmission Lines
Proposed Transmission Lines
ELECTRIC CORPORATION
AND
ITS
SUBSIDIARY
*
H. P. Co.—Holton Power Co.
C.V.I.& E. Co.—Coachella Valley Ice and Electric Co.
AND ALLIED
COMPANIES
Mat. 1920.]
INDUSTRIAL
pref stock callable at 105
Oollat trust callable at par gold (V.
Falls Mt Electric Co 1st M_...—
Par
Amount
Rate
When
Value
Outstanding
%
Payable
$5
20
100
100
100
1907
1,000
1915
1,000
1918
100
1911
1,000
100
1.000
1907
1915
165
—
109, p. 273) -OBxxc*
Bonds $1,000,000
-
—
Bonds $10.000.000
s
a
flaw York Air Brake—Stock $13,000,000 authorized....—
First M $3,000,000 gold convert text to July 11914..xCe
New York Dock Co—Common stock $7,000,000
.....
Preferred stock 5% non-cum (text)................Usm
First mortgage $13,000,000 gold call at 105
Usm.xc&r
1,000
1.000
1912
100
1958
100 Ac
100
1901
500 &0
100
NEVADA CONSOLIDATED COPPER
CO.—ORGANIZATION.—
Incorporated Nov. 17 1904 in Maine as a consolidation.
Lands comprise
1.589 acres.
Of the outstanding stock,» 5.002.500 on Dec. 31 1917. was
owned by Utah Copper Co.. see below.
Profit and loss surplus Dec. 31
1918, $9,934,361.
Flotation suit, V. 109, p. 1084.
Mines were shut down
during Aug. 1919 due to strike.
Quar. end. Mar. 31—
Net gain...
Dividends
rBalance, deficit
192J.
1919.
S215.583 loss$lll ,159
499,864
749.796
$284,281
$860,955
1917.
1918.
$310,070
999,457
$1,689,387
$3,021,916
1,999,457
sr$l,022,459
REPORT.—For 1919, in Y. 110, p. 1648, shows:
1919.
1918.
1917.
1916.
Copper produced (lbs.)- 43,971,892
76,607,062
82,040,508
90,735,287
Total revenue$8,535,728 $16,787,656 $20,279,722 $24,366,292
Net for distributions
1,110,407
3.459,880
9,937,599
15,435,359
Dividends
2,999.185
6.498.235
8,297,747
7,497,963
.
Production (Lbs.)—
April
1920.
4,000,000
15,731,938
—
Four months—
The mines
..
were
DIVS—
1919.
3,763,000
15.963,000
shut down during August 1919 on account of a strike.
10. *11. *12. *13. *14.
Regular,percent 30
30
Extra, per cent
--
--
30
10
30
10
22X
'15.
*16.
*17.
*18.'19.
27X 35 40(10qu.) 65 30
2X 40 40(10qu.) ....
1920.
5,-
Of the 10% extra dividend paid June 30 1917, one-half was capital dis¬
tribution.
A special div. of 15 cents was declared payable July 25 for
Red Cross contributions.
In Mar. 1919 paid 37X cents (7X%) quar.
V. 108, p. 977.
In Mar. 1920 div. was reduced to 25 cents (5%) quar.
fc*
p.
President is D. C. Jackling, N. Y.: Sec. & Treas., C. V. Jenkins.—(v. 110,
876, 1193, 1648, *753, 2081, 2197.)
NEW CENTRAL COAL.—Incorporated in West Va. in June 1911*
7.92, p. 1569; V. 93, p. 875. Owns coal lands in Allegheny County, Md
7. 86. p. 901, 1140; V. 64. p. 615.
'11. *12. *13. *14. *15. *16. :i7 '18. '19.
444322442
DIVIDENDS.—
?er cent
May'20.
2
New York office, 17 Battery Place.—(V. 104, p. 1596.)
COMPANY POWER SYSTEM.—A Massachusett
ENGLAND
voluntary association
(created in March
1915 under the laws of 1914,
per plan In Y. 100, p. 984), and owns, in addition to undeveloped
rater rights on the Deerfleld River, the entire common stock of New Eng¬
land Power Co. ($3,500,000), Oonn. River Power Co. of N. H. ($1,500,000)
and Rhode Island Power Transmission Oo. ($500,060, only one class out¬
standing, and 85% of the $150,000 common and practically all of the $650,900 pref. stock of the Bellows Falls Power Oo.
Control is thus held of the
jeveral
operating corporations below mentioned.
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 Deerfleld rivers, having installed capacity of over 75,000
h.p., and controlling power and reservoir sites capable of the contemplated
<3 velopment of an additional 125,000 h p.
In addition a large amount
of developed power Is under contract to the system.
Over 350 miles
of transmission lines, six generating and 11 sub-stations and a large
reservoir
are operating to serve about 100 cities and towns in Central
New England (in Mass., Conn., R. I., Vt
and N. H.)
which ars sup¬
plied wholly or In part by the system through contracts with large commerlial users and with local electric-lighting companies, electric and steam
•allways, notably in Worcester, Fitchburg, North Adams, Mass., and
Providence and Pawtucket, R. I.
(S3e V. 105, p. 1714; V. 106, p. 2762.)
Has agreements for interchange of power, see V. 108, p. 1273.
Properties Comprising System.
Co.—Has in operation
on
Deerfleld River Ave
gen¬
erating stations (one completed in 1916) and a storage reservoir of some
S3 billion gallons capacity.
The five operating stations will utilize about
<10 ft. of fall and have a generating capacity of over 48,000 h.p. out of a
eontemplated development of ow 100,000 h.p., some 1,050 ft. of fall being
controlled by the system.
In Aug. 1919 an additional unit at the Uxbridge
station was put in operation, increasing the capacity of that station to
10.000 k.w.
Also owns about 278 miles of transmission lines In Massachusetts acquired
by merger of Oonn. River Transmission Oo. in April 1916.
Connecticut River Power Co.—Plant located on Connecticut River below
Brattleboro, installed capacity 27,000 h.p. with dam. storage basin and
about 50 miles 01 transmission lines in New Hampshire and Vermont.
Bellows Falls Power Co.—Water-power on the Connecticut River (fall over
50 ft.),
^caipable of re-development on modern hydro-electric lines. V.
Rhode Island Power Transmission Co.—Distributes the power sold in
Rhode Island by means of high-tension steel transmission lines and a large
aew
sub-station for transforming purposes.
STOCK OF NEW ENGLAND CO.—See table above.
The first pref.
stock, $884,000, was exchangeable tor $650,000 guar. pref. stock of Bellows
Falls Power Oo. and also is 1 suable on request for conversion of 10-year 6%
debentures due Nov. 1 1925 (see below).
The 2d preferred is entitled to
1% p. a. (eum.) and after 4% is paid in any year on common is entitled to
same rate for that year as paid on common up to
5% and above 6% to
one-half the rate
on common.
Bothpref. stocks of the New England Co.
1919
(as also the pref. stock of the New England Power Co.) had in July
received their full dividend regularly from organization to date.
BONDS AND NOTES.—The New England Oo. First & Ref. M. 5s (V.
$8, p. 1997) had in Oct. 1916 been practically all redeemed.
The
convertible 6s of 1915 are convertible into first pref. stock par for par at
any time;
they are callable at 102 X and int.
Autn., $4,000,000, see v. 104,
2238; Y. 102, p. 158.
New England Power Oo. 1st M. s. fd. 5s are callable at 105 and Int. on
any tat. date.
Auth., $14,000,000.
Outstanding Jan. 1919, $6,961,000
(tad. $500,000 sold in 1918); additional canceled by sinking fund. $62,000.
V. 106, p. 2233.
In Sept. 1919 sought permission to issue $350,000 pre¬
p.
ferred stock and $600,000 1st M. bonds (making $7,700,000 of the latter
Issued).
V. lOOtjp. 1085; V. 108. p. 176; 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 Oo. and Falls Mt. EL Lt. & P., V. 96, p. 64.
8
&
Philadelphia
Boston, Old Col Tr Oo
M&N May 1921
Oct
Q—J 15
J
&
J
&
A
&
J
&
J
8
88
1 *19,
July 1 1951
1H Boston
Boston
D June 1919X3%
D June 11937
O Apr 1 1920
M&N 15 Nov 15 '19.
J
&
J July 1 1922
A
&
O 1924
5
s8
&
Philadelphia
Boston and
Philadelphia
Boston
2X
Boston, Old Col Tr Co
Nat Bank. Bellows Falls
66.456,100 7 In 1919
Q—M
Mar311920IK 50 Oliver Street, Boston
J
&
4
J Jan 11930
Merchants Natl Bank
1,000,000
A
&
O Oct 1 1932
5 g
10,000,000
10,000,000 Bee text Q—M
June25'202X%
6 g
M&N May 1 1928
3,000,000
FeblO' 20,2 X %
7.000,000
5" J&j"i5 Jan 15'2d 28%
10,000,000
F
&
4 g
A Aug 11951
12.550,000
11996
Old Colony Tr Co Boston
Office, 165 B'way, N Y
Central Union Tr Co.NY
U S Mtge & Tr Co N Y
do
do
do
do
REPORT.—Cal. year 1919 in V. 110, p. 1182:
darnings of all Properties Comprising the New England Co. 8yst. (V.104, p.367)
1919.
1918.
1917.
1916.
—357,000,000 323,000,000 300,000,000 246,000,000
$2,068,436
$4,218,968
$2,645,973
$3,557,281
1,311,132
1,322,881
1,512,088
1,144,195
Bond interest
440,963
463,918
446,319
485,829
Other interest
153,143
200,751
156,781
278,897
237,102
278,412
(293,227
Accrued div., pref. stock)
627,967
Acer, div., 2d pref. stock j
108.800
108,800
1108,800
Balance
365,768
119,396
159,239
256,185
K.W.H. output
Gross earnings
Net earnings
Annual Kilowatt Hour
Output and Cross Earnings Since 1910.
1912.
1910.
1916.
1914.
1919.
Kilowatt hr.
*357,000,000
output -34,000,000 64,000,000 *120,000,000 *246.000,000
Gross earns.
$270,000
$514,000
$982,000
$2,068,000
♦These figures do not
$4,219,000
include the water output at Bellows Falls.
OFFICERS.—George S. Smith, Boston (Pres.); G. B. Baker, Boston
(V.-Pres.): Malcolm G. Ohace. Providence (V.-Pres.); Wm, W. Brooks.
Boston (Treas 0: R* Y. Fits Gerald, Boston (Sec,).
General offices, 50
Congress St., Boston.
Trustees and Shareholders Committee.—Charles L. Ayltag. George B.
Baker, Wm. 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. Admas, Adams, Mass.; Robert L. Bacon
(Kisseli, Kinnicutt & Co.), John S. Phlpps and L. H. Shearman (W. R.
Grace & Co.), all of New York; Malcolm G. Ohace, V.-P., Providence;
J. Sloat Fassett, Elmira, N. Y.; Geo. K. Johnson, George Gordon, Phila¬
delphia; Edward T. Kimball, Portsmouth, N. H.; Arthur H. Lowe, Fitch¬
burg, Mass.; S. O. Moore, Gen. Mgr., Worcester: Geo. N. Kimball and
Frank S. Streeter, Concord, N. Y.—(V. 109, p. 277, 583, 1085; V. 110, p.
1182.)
NEW ENGLAND TELEPHONE & TELEGRAPH CO.—This co. does
telephone business in Maine, New Hampshire. Vermont and Massa¬
Telephone stations owned Dec. 31 1919, 664,540; connecting,
&c., 70,806; total, 735,346.
Of the capital stock, $38,514,000 on Dec. 31
1919 was owned by Amer. Telep. & Teleg. Co.
V. 70, p. 40.
Wages,
V. 106, p. 1235.
Strike, V. 108, p. 1614.
Y
'
Owns $3,960,450 of the $4,000,000 stock of Providence Telephone Oo
V. 101. p. 532, 1473.
Stockholders of record Aug. 28 1917 had the right to subscribe at par. on
on before Sept. 22. for $11,100,500 new stock.
Total stock outstanding
Dec. 31 1919 was $66,456,100.
See V. 105, p. 824.
chusetts.
m
.
,
be secured by any mtge. V. 95, p.
were paid off. V. 108, p. 1169.
1043t
f '94. *95. *96. *97. *98-'09. '10. '11. 1912 to Mar.
1920.
DEBENTURES.—These
are to
The $446,000 bonds due April
DIVIDENDS,
\
Per cent
The
New England Power
2K Boston
do
2%
Boston
D June 11937
a
NEW CORNELIA COPPER CO.—See Calumet & Arizona Copper Co,
NEW
&
M&N Nov 1 1925
6
6
Dividends are Payable
May 11920 40c. Co's Off, 17 Batt PL N Y
Aug 18 *19 1%
J
I8
65,000
100
1955
4
Places Where Interest an 1
Maturity
M&N 15 Nov 1 *19.
J & J15 July 15 *19,
6
6
and
Mar 31*20. 5%
See text
550.000
■
Last Dividend
Q—J
3,796,800
6,871,000
714,000
1,908,000
486,000
200,000
1,000
1912
1904
Telephone & Telegraph—Stock $75,000,000..
$9,997,285
1,000,000
5,000.000
877,600
2,720.000
122.000
96.000
2.310,000
8,800
^01
BONDS
Date
Nevada Consolidated Copper Co.—$10,000,000 stock
l«w Central Coal—Stk $1.000.000(V66.p901.1140;V64.d515)
New England Company-—Common stock
............
First pref (a & d) stock cum 5X % till 1020, then 6%..
2d pref (a & d) stock cum 4% « partic (V 102^984.2172).
Mass Co Oollat Trust assumed callable at 105OBxxc*
New England Co 1st & Ref mtge
...
Ten-yr debentures g cony into 1st pref call 102 X OBc*
2 X-year notes
............
..........—....
System Securities Not Oumed by New England CoNew England Power Co pref (a & d) stock 6% cum..—..
1st M $14,000,000 g skg fd callable at 105
.NBc*
Conn River Power Co. 6% pref (a & d) stock $1,200,000 ..
1st M (closed) sinking fund callable at 107
OBc*
Five-year notes
—...........
—
lew England
AND
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, Ac.. see notes on first page]
Bellows Falls Power Co
STOCKS
4
4X
11919
5
5X 6 y'ly
6
6K 7% yly (IK Q-M
REPORT.—For calendar year 1917, in V. 106, p. 2753, showed:
Calendar
Cross
Net (after
Other
Interest Dividends, Balance.
Year—
Earnings.
Taxes, Ac.)
Income. Rentals,Ac.
(7%). Surplus.
1919 5 mo.$12,928,015 $2,611,259 $661,888
$683,337 $1,938,303$651,507
1918 7 mo.$14,300,805 $3,258,199
1917—- 22 649 935 4,602,489
$668,889 $2.508,996$485,91fl
1,049,456 3,982.496 130,317
$405,605
499>80
20,971.274 4,821.978 495.848
1,066.195 3.460,347 791.284
Pres., Matt. B. Jones.
Office, 50 Oliver St., Boston.—(V. 110, p. 975.)
NEW JERSEY ZINC CO.—(V. 110, p.
567. 1753, 1855, 1978, 2081.)
BRAKE CO.—Incorp. under laws of New Jersey.
Works at Watertown. N. Y.: capacity, 500 sets of car brakes a day; &L»o
new
plant built in 1917. 100x802 ft.
V. 105, p. 2460.
The Jefferson
Munitions Oo., a subsidiary, in Jan. 1918, took over the new plant at
Watertown, N. Y.
V. 106, p. 402.
In 1912 the Westlnghouse 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, &c.
In 1919 at small expense was preparing to use
these facilities for the building of motor trucks and motor cars on a con¬
siderable scale.
V. 109, p. 1798.
NEW
YORK AIR
'13-'15. '16. *17. '18. 1919.
4X IX
6
11X 20
20
10
June, 2X%.
DIVS. '99-'07. *08-*09. *10. '11. *12.
Percent.8 yrly.
None
3
In 1920: March, 2X%;
BONDS.—V. 86, p. 725, 797, 921, 1104.
1919), $6,880,000.
1920.
text
Bills payable (as of Dec. 31
1X1
V
AJLvJf
REPORT.—Report for year end. Dec. 311919 In V. 110. p. 869s showed:
Dividends
Rctl(inc09
Calendar
Sales,
Net, after
Bond,
Paid.
Surplus.
Year—
Ac.
Taxes, Ac. Interest.
(10)$965,313def$54i ,498
$3,551,668
$603,815 $180,000
(20)1,937,715
114,838
1918
10,464,508
2,232,553
180,000
(20)1.986,980 def.93.154
1917
10,269,330
2,073.826
180,000
1916
24,144,997
8.394.962
180,000 (11X)1.149,126
7,065,836
(6%)599,544
743.742
1915
4,770.153
1,558,442
215.156
•
uytf »
OMWfT was
-
—
DIRECTORS.—Pres.. O. A. Starbuck, 165 Broadway; V.-P., John O
Thompson: F. 8. Flower, N. F. Brady. G.^W. Mead. Wm. N, Shaw. Elon
R. Brown, Walter T. Rosen and Le Roy W. Baldwin.—(V. 109, p. 1798;
V. 110, p. 869.)
NEW YORK DOCK
COw—ORGANIZATION.—Incoroorated In N- Y.
July 18 1901 as successor of the Brooklyn Wharf & Warehouse Co.,
foreclosed and reorganized pa plan V. 72. p. 937.
V. 73. p. 239. 1355.
Owns water frontage in Brooklyn, about 2X miles In length,
of which
State on
157 feet leased,
with 10 miles of railway
tracks, 159 bonded and free
warehouses having 116.2 acres of floor space, 34 piew (the longest 119.3 ft.)
20 mfg. buildings, and cold storage.
V. 9p.p.l305; V. 106, p. 1794.
The railroad department was acquired Oct. 1 1912 by New York Dock
Ry., which is controlled by the New
York Dock Co. V. 95. p. 1217, 1477;
V. 96, p. 1026.
$7,000,000; pref., 5% non-cumu¬
5% on both stocks,
31 1919 with further
P. & 1. surplus Dec. 31 1919, $2,333,317.
STOCKS AND BONDS.—Com. stock,
lative, $10,000,000, all in shares of $100 each. After
they share equally.
Bonds. $450,000 in treasury Dec.
$12,550,000 outstanding.
DIVIDENDS./ '05. '06. '07. *08. *09. '10. '11./12-16. *17. *18. *19.*20.
%12X 3X
4 4X 4
4 2X
None
2 5X
5 text.
I—
...
...
...
...
...
....
...
2X
Div. No. 1 was paid on common stk. Feb. 151919,2X % • V. 107. p. 2480
Feb. 16 1920, paid 2X%-
On preferred,
On common, %
...
...
...
•202
BONDS
INDUSTRIAL STOCKS AND
[VOL. 110.
MISCELLANEOUS COMPANIES
Date
Par
Amount
Rite
When
Last Dividend
{For abbreviations, Ac., see notes on first pace]
Bonds
Value
Outstanding
%
Payable
and Maturity
Hew York Ac Ea«t River (la* Co—New York Edison Co— New Y ork Gas. Elec Lt. H
1896
$1,000 $4,100,000
N V & Hoboken Ferry Co— Hobok Fy lstoon M red.Usin.so*
N Y A New Jersey Ferry two mortgages (V 82. p 164)...s
1896
1.000,000
1,000
Gen M gold 84,000,000
3.300.000
1898
t
1,000
100
II Y Mutual Gas Light-—Stock (bonds see Consolidated Gas)
3.409.700
1.000
N Y Mutual Tel—Mut Union Tel 1st M ru p A I ext In 'll.N.o 1881
5.000,000
New York & Queens Electric Light Ac Power—See Consol! dated Gas Oo o f New York
1.500 000
1901
1,000
NY & Richmond Gas—First mortgage gold red llO..Ce.xo"
First * Ref. Mtge (proposed In 1919) $3.000.000
See text
100 Ac
1919
200.000shrs
New York Shipbuilding Corp—Stk (no par ral) 200,000 shs
1st M $25,000,000gcall 102>4; skfd2}f% beg'18-UPi.xc*
"156 Ac
1916
6,988,000
1909
S A £
Hew York Telephone—IstAGen M auth red 110-_f,.r*o*&r*
67373,510
Debentures skg fund $375,000 yearly call 110
100 &c 24,811,100
G.c*Ar* 1919
100
New York Transit Co—Stock
5,000,000
10
New York Transportation Co—Stock....
2.350,000
Newark (N J) Consol Gas Co—See "Electric Ry" Section
100 14.484.600
Niagara Falls Power Co—Common consolidated stock.....
Preferred (a A d) stock 7% cum callable (all) at 110....
100
11.515.400
1st A Consol mortgage S75.000.000 (see tenet)
None
100 &C
19i9
Bands Issued ana, Issuable on Constituent Properties-—
1891
500 So c
10,000,000
Niagara Falls Power Co (old co) first mtge gold
-Ce.x
Ret A Gen M $20,000,000 < V 88. p 1441) gold. Ba.xc*&r*
1909 1,000 Ac
8.226.000
3.500.000
1,000
Hydraul Pow Co 1st & Ref M call 110 aft July 1 '20-xc*Ar 1910
Ref A Impt $10,000,000 call at 105 after Oct 1 1921..xr
1,000
6.500,000
1916
1904
3,887,00<i
1,000
Hlag Lock A Ont PCo—lstM$5,OOO.OOOgred HOsf text-,Cl*o*
Salmon River Pow Co 1st M $5 000,000 g guar P A t
4,773.000
$, £. Ac
Colx 1912
Ref mtge $15,000,000 g sink fd series A call 110—Eq kk c* 1918
100 &C
1,980,000
Nlag AtS P. 1st SA
1911
1,000
558.000
,250,000g Yi gu sI red 105text..(i.xc*
...
...
.
REPORT.—For calendar year 1919:
Calendar
Years—
Total Net
Gross
int.. &c.,
Pf.Div. Com. Div. Balance
Charges.
(5%).
(2H%). Surplus
$1,905,233 $811,026 $500,000 $175,00011094,206
$1,663,558 $578,569 $500,000 $175,000 $409,988
1,552.009
535.322
500,000
516.687
1.293.690
511,173
782.517
Earnings.
Income.
1919 .—$4,819,385
1918
$4,989,462
1917
4,423,035
1916
3,065,136
—
—
'OFFICERS.—Chairman,
F.
8.
Landstreet;
Pres.,
William E. Halm•
V.-Ps., O. D. Hoagland and O. O'D. Iselin; Sec., Edwin Tborne; Comp.,
F. A. Davis; Treas., Wm. M. Mortimer.
Office, 44 Whitehall St. (Man¬
hattan), N. Y.—(V. 110, p. 471.)
NEW
from
:
YORK & EAST RIVER FERRY.—Owns the "Astoria" Ferry
of 92d St., N. Y., and has three ferryboats.
Discontinued
foot
service Dec.
p.
'
376,
28 1918.
Foreclosure suit
was
filed
in July
1919.
V.
109.
Stock. $750,000.
Dividends 1901 to 1908, 6%
yearly with one or more extra, since, if any,
not reported.
Directors; William A
Nash, Theo. F. Jackson H. K.
Knapp, E. Lehman and Roswell Eldridge.—(V. 107, p. 1197; V. 108,
p. 84, 385.)
NEW YORK & HOBOKEN FERRY CO.—Incorporated Nov. 10 1898.
V. 77, p. 454.
In April 1903 Del. Lack. A West RR. acquired entire
$3300.000 stock.
Of the $4,000,000 general 5s of 1898, $700,000 were re¬
served for Improvements; all are redeemable at 110.—(V. 82. p. 164.)
N.
Y. MUTUAL GAS
NEW YORK &
RICHMOND GAS
Inoorp. In New York in 1901.
V. 81.
CO.—ORGANIZATION,
AC.—
607.
Steck auth., $1,500,000;
p.
1% (quar.); then none to Oct. 1915,1%; 1916,3%; 1917,4%. None since.
In Oct. 1918 plans were still pending for making of a $3,000,000 First A
Ref, Mtge. to provide for the retirement at or before maturity of the
$1,500,000 1st M. 5s and for Improvements, Ac.; the initial issue will prob¬
ably be $300,000.
Compare V. 106, p. 2126; V. 104, p. 1149,
Gal. year 1919: gross, $579,720; net, $39,363; bond interest, $83,238
bal., def., $43,875. (V. 110, p. 975).
Pres., Wm. J. Welsh; Sec. & Treas.,
John Kohout.—(V. 108, p. 688; V. 110, p. 975.)
NEW YORK SHIPBUILDING CORP,—ORGANIZATION.
Incorp.
In N. Y. Nov. 281916 and took over (V. 103, p. 2159) the entire assets, Ac.,
of the New York Shipbuilding Co. of N. J., with modern plant on the Dela¬
River
Camden, N. Xfe V. 107, p. 507; V. 108, p. 1821.
Litiga¬
1349.
Purchase from U. S. Shipping Board, V. 110, p. 267.
near
tion, V. 106,
p.
Control.—Controlled by American International Corp. (V. 103, p. 2338).
the International Mercantile Marine Co., W. R. Grace A Co. and the
Pacific Mail SS. Co.. which concerns control directly or Indirectly American
Line, Atlantic Transport Co., Pacific Mail and W. R. Grace A Oo. steamers.
STOCK.—Offered in N. Y. in Dec.
p.
2159.
1916 at $47 50 per share.
Auth. and Issued, 200,000 shares,
no par
103,
^Div. No. 1 paid on pref. stock Mar. 1 1919, $1; July 15, $1; Nov. 15, $1;
1920, Mar. 1, SI; June 1. $1.
BONDS.—Of the total authorized Issue of $25,000,000 bonds, $7,500,000
Issued In payment for the purchase of the predecessor company's prop¬
were
erties, Ac.
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); $512,000 retired to
Dec. 31 1919.
EARNINGS.—The net income for year ending Dec. 31 1919 (available
for Federal taxes;, was $1,401,792, and the total surplus Dec. 31 1919,
$3,157,972See V. 108, p. 1821.
OFFICERS.—Geo. J. Baldwin, Chairman: Marvin A. Neeland, Pres.;
H. A. Magoun, V.-P.; N. de Taube, V.-P.; W. G. Groesbeclc, V.-P.; J. T.
Wickersham, Treas. A Sec.—(V. 109.
NEW
p.
1897; V. 110,
p.
267.)
YORK TELEPHONE
Hon In Sept. 1909 of all the
1?ew#X?rkA ,See V'J{'
CO.—ORGANIZATION.—A consollda
Bell
telephone companies operating in State
P■
l51* \57; v* 93«
P-
1263.
Owns all the
stock of the Delaware A Atlantic Teleg. A Teleph. Oo. and $52,484,000
of the $60,000,000 stock of Bell Telephone Oo. of Peuna. (V.
Oontrois EmpireCity Subway Co.
V. 92, p. 1569; Y. 93,
U.S.656)
p.
1263.
167, 474;
Total stations, including service and connecting stations. Dec. 31
1919, 1,661,714.
Federal T. A T. system of Buffalo was taken over
March 1 1918.
V. 107, p. 86; V. 106, p. 1039; V. 103, p. 1215, 1415.
Installation of automatic telephone system in N. Y. City in progress
V. 110, p.1532.
Bills payable Dec. 31 1919, $13,744,216.
v
Rates^V. 107,p. 186; V. 106, p. 2014,2457; V. 109, p. 986,1371. Wages,
STOCK.—Authorized, $200,000,000; outstanding, $150,000,000 (par
$100). all owned by Amer. Telep. A Teleg. Co.
V. 89, p. 781, 849; V. 90.
p. 1242; V. 98, p. 1997.
In April 1918 obtained authority to Issue $25,000,000 additional stock to reimburse the Amer. Telep. A Teleg. Oo. for
advances made.
V. 103, p. 1800, 2349.
DIVIDENDS.—In 1910 to and including 1918, paid 2% quarterly,
BONDS.—The "First A Gen. Mtge." made in 1909 Is limited to $75,000,000 (all to Jan. 1 1920 issued and $7,363,750 retired by sinking fund),
having a first lien on entire property (including real estate valued at
approximately $29,160,000) 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. A 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: Y. 103. p. 1122.
Underlying Bonds— Dec. 31 1919.
Int.
'
N. Y. A Pa. T. A T. Co. 1st M. g. s. f..5 FAAz
do
do
Gen. M. gold
4 M&Nx
Cortland Home Tel. Co. 1st M. gold _»5 AAOz
Outst'ding.
Maturity.
$214,000
456,000
Feb. 1 1926
Nov. 1 1929
1,100
5 AAOxx
41,000
Albany Home Tel. Co. 1st M. gold
.6 JAJxx
Oohoes-W&terf. HomeTel.Go. 1st M.g__6 JAJxx
13,500
Apr. 1 1921
Apr. 1 1923
Jan. 11937
11,500
Jan.
l/tlca Home
Telep. Co. 1st M. gold.!
The $25,000,000 6% debentures sold in Jan. 1919
any new mortgage
ratably
11927
to be secured by
with any other indebtedness secured thereon.
are
The sinking fund to which $375,000 must be paid annually will, it is
said,
Payable
i*
F
A|
*19
20 In
Q—J
text
dee
See
text
7
do
$1
Bankers Tr, N Y Sc Pitts
N Y office; and London
New York
New York
New York
M
A Feb 1 1949
Apr 15 1920 4
Apr 15 1920 2
Q—M 15 Mar 15 1920 1M Checks mailed
do
Q—J 15 Apr 15 1920 15*
—
5
Various
A
&
1
Wlnslow,Lanier A Co,NY
Trust Co, N Y
Bankers'
1932
Oct
1 1951
<&
Nov
1 1954
A
Au<?
I
City Tr Co. Buffalo, N Y
Bankers Trust Oo, N Y
Guaranty Trust Co, N Y
July I 1950
&
t*
# g
6
g
5
1 1932
Jan
O Jan
&
5 g
5 g
z
N
1952
Feb 1 1958
Sc
A
Y
Loudon, Paris, Ac
Equitable Tr Co, N Y
JlJan 1 1941
Guaranty Trust Co. N
REPORT.—For 1919 in V. 110, p. 1745.
Gross
Net after
Other
Cal.
Y
Interest
Dividends
Balance,
Surplus.
$
1919*—75,065,893 12,966,125 7,541,628 5,300,590 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
62.961,006 14,293,333 6,008,994 3,924,837 10,000,000 0,377,490
a
Includes Government compensation for 7 months amounting to $6,718,556.
♦During the last 5 months 1918 and the firs* 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; Chairman of Board, T. N. Vail; General
Auditor, J. S. Wiley.
N. Y. office, 15 Dey St.—(V. 110. p. 1295, 1532.)
Year.
Charges.
Taxes, Ac. Income.
Earnings.
$
$
$
(8%p.a.)
*5
35
NEW YORK TRANSIT CO.—ORGANIZATION, Ao.—Inoorp. In New
York In 1892.
Owns pipe lines In States of New York and New Jersey.
Formerly controlled by Standard Oil Co. of N. J., but segregated In 1911.
See Standard Oil Oo. of N. J.. V. 85, p. 216. 790; V. 93, p. 1390-
Regular
'13.
40
40
Extra
'15.
17
'16.
16
1917.
16
2
'14.
34
—
4
In 1920: Jan. 15. 4% and 4% extra; Apr. 15,
REPORT.—For 1919 in V. 110, p. 567.
Calendar Years—
1919.
1918.
Net
income-
Dividends—
Bal.,
sur.
or
(V. 110,
p.
Sec.;
1920.
See
1919.
16
6
text
--
4%.
1917.
1916.
$1,339,121
(18)900,000
def-——sur.$28,848 def.$85,706sur.$461,619sur.$439,121
OFFICERS.—D.
Chesebro,
1918.
16
$1,028,848
$914,294
$1,461,619
(20%) 1,000,000(20) 1000,000(20) 1000,000
-
———
W.
567.)
S.
F.
Bushnell, Pres.; D.
Livingston, Treas.
M.
Sachs,
18
Office,
V.-Pres.; George
B'way, N. Y.—
*
NEW YORK TRANSPORTATION CO.—ORGANIZATION.—Incor¬
Shareholders voted June 15 1916
porated In New Jersey on Feb. 21 1899.
to reduce the stock from $5,000,000 to $2 500,000 by changing the par
value to $10.
V. 102, p. 1987. 2081; V. 74, p. 99. 215.
Owns entire
capital stocks of Fifth Avenue Coach (V. 105, p. 2098) and Metropolitan
(express) companies,
V. 103, p. 325.
Divld nd of 25 cents, 2H % (10%
p. a.) was paid quar. Sept. 1 1916 to June 1 1918, incl.; Sept. 1-1918 to
April 15 1919, none.
July 1919 to Aprill920 paid 2H% quar.
Real estate
mortgage outstanding Dec. 31 1918, $175,000.
EARNINGS.—For year ending Dec. 31 1919.
V. 110, p. 1295.
OFFICERS.—Pres., John A. Ritchie; V.-P. A Sec., Samuel E. Morrow;
Treas., Geo. L. Willems.
Office. 10 East 102d St., N. Y.—(V. 108,
p. 1394; V. 110, p. 1295.)
NEWPORT COMPANY.—(V.
V.
value.
are
do
June 1 1920
A N Nov I 1946
MAN Nov I 1939
5 g
DIV8. (cal. yrs.)*12.
all outstanding; par, $100.
Dlv. Aug. 1905 to Feb. 1912, Inch, 2% yearly
IF. & A.), and In Feb. 1910 and 191l. 1% extra; May 1912 to Feb. 1913.
IX vidends
Oo
eat & Po.w- -SeeO onsolldated Gas
do
N May 1 1940
N Y. Office Del L A W
5
M
Jan
do
1 1946
do
5
J
do
do
May 1 1946
5 g
J
Jan 10 1920 4% Checks mailed
9 In 1919 J
Western Union Tel, NIY
M
5 g
May 1 1941
Boston
Gent Union Tr Co, N Y
M
So
N May 1 1921
5 g
with interest on the amounts retired suffice to redeem the entire issue by
maturity.
V. 108, p. 176, 274.
Reacquired to Dec. 31 1919 and heda
alive in sinking fund, $188,900.
LIGHT.—See CONSOLIDATED GAS.
NEW YORK MUTUAL TELEGRAPH.—Successor to the Mutual Union
Telegraph Co.
The stock carries dividends of 6% per annum under a lease
for 99 years from Feb. 15 1883 (with privilege of renewal for 999 years from
1883) to Western Union Telegraph.(V. 93, p. 108).
ware
197
Places Where Interest and
109, p. 683, 986, 1085.)
NIAGARA FALLS POWER CO.—Under this title consolidated Oct. 31
1918 the old Niagara Falls Power Co., the Hydraulic Power Co. and Cliff
Electrical Distributing Co., per plan in V. 107, p. 1291, with capitalization
Compare Act of N. Y. State Legislature,
shown in table at top of page.
Ac., V. 106, p. 2455, 2564; V. 107. p. 1924, 2193, 2294.
Including the plant of its subsidiary, the Canadian Niagara Power Co.,
the company in May 1920 had an installed capacity of about 450,000 h. p.,
making It the largest and most important power installation of the world.
It is proposed to substitute for one of its present 100,000 h. p. plants a new
200.000 h. p. plant.
V. 110, p. 82.
The capital stock of the consolidated company was limited under the
State law to an amount not exceeding the aggregate share capital, surpluses,
undivided profits and unimpaired reserve funds of the constituent com¬
panies.
V. 106, p. 2455.
The First A 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. 1919, 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% per ann.
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. & Impt. bonds was sold In Nov. 1918, V. 107, p. 2193, 2381.
DIVIDENDS.—Of old Niagara Falls Power Co.—April 1910 to July
1918, lncl., 8% per ann.
In Oct. paid 2% and 3% extra. V. 107, p. 909.
On new Niagara Falls Power Co. pref. stock Jan. 1919 to Apr. 1920 paid
1 %% quar.
Initial dividend on common of 1 % paid March 15 1919; June
Sept. and Dec. 1919, 1% each.
In 1920: Mar. 15, UN¬
REPORT.—For year ended Dec.
Calendar Years—
Total operating revenue
Net operating revenue
Non-operating
.
y._
on
Preferred
Miscellaneous
1919,
1918.
$5,098,100
$5,016,366
$3,170,543
$2,879,292
0.274,743
Cr.361,583
1,319,760
1,325,753
-(7%)806,078(15*)201,520
__(4%)579,384
— __
-
revenue
funded debt
dividends
Common dividends
Interest
31 1919 showed:
-
41,470
-
13,439
Balance, surplus
$698,594
$1,700,163
Combined Quarterly Income Account for 3 Months ending March 31 (Incl.
Canadian N. P. Co.}
1920.
1919.
Oper. revenue.$l,429,925 $1,272,322 Net income
Netoper. rev_
841,361
818,283 Balance, surp.
1920.
$895,302
$537,253
1919.
$887,077
$546,945
OFFICERS.—Chairman, J. F. Schoellkopf; Pres. A Gen. Mgr. Paul A.
Schoellkopf; V.-P., C. P. Hugo Schoellkopf, Morris Cohn Jr., and John L.
Harper; Sec., Fred'k L. Lovelace; Treas., W. Paxton Little.—(V.
r»
071;
inQi
19Q«>
110,
17K1 \
NIAGARA LOCKPORT & ONTARIO POWER CO.—(See Map.)—
ORG ANIZATION.—Inc. 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-
fobourg
a t e r t o \vn
?Bo5vmanviile
Toronto
f&\ Redfield
SA
LTMCXN^R'lVEnj^v
u
^
®^EW>IOUSE / Altmar
Oswego^
MfNlSTTOl
powerMouse
Lyndonville
®
Albion
Medina
Middleport^J^
iSoduj
Brockport
Phoenix1
Sodus
PLANT
rannes
Baldwinsville
Rochester
^
V'
VMgyi\agaraFalls If
y/po
W JpTonawallnda
//
Y£U
if
f (
/TflT
Jl Akrop^
/riWilliamsville
^M4-r S
Aty
Port Colborne
\^Fairport
x||
Oakfield#*"^
North Tllonawanda
Welland
Shi
^
11
I
Fulton
Carlton
Caledonia
3Batavia
Seneca Palls
T.
kHopTew
Lancaster
,.
x
=5^^1iy^}ardenVille
Aubur:
Canandaigua,
Waterloo
l|
Geneva fc?
°Attioa
^6V^/ West Seneca
Athol^pjgJ'
(JJ/tT >y
sJ/0 y/
Hamburg
Mt.Morris
__
Warsawn
Cortland
Dansville
Dunkirk
Fillmore
o
West Portland
Dayton
Ithaca
°
Hornell
MAP
Corning o
MayvillevilN^
TIIE
NIAGARA, LOCKPORT
and
Salamanca
ISx* J am esto wn
OP
Wellsville
Olean
ONTARIO POWER COMPANY
INDUSTRIAL STOCKS AND BONDS.
204
[VOL. 110.
MISCELLANEOUS COMPANIES
Date
Far
Amount
Rate
When
Last
Dividend
[For abbreviations, Ac., see notes on first page]
Bonds
Value
Outstanding
%
Payable
and
Maturity
N lies-Bement-Pond Co—Stock com $8,500,000 (V
Pre! (a & d) stock 6% cum 13.000.000 call begin
Pratt & Whitney new 6% cum
1350)
$100
1921 at 105
100
100
12.302,200/ 6 in 1919
100
100
6 in 1919
29.793.300 5 In 1919
83.
p
pre! stock guar Jan 11921
Nlles Tool Works 6% cum preferred stock not guaranteed
North American Co.—Stock $30,000.000----------------Northern Cal Power Co Cons—See Pacific Gas A Electric Co.
1909
North. N Y UtilitiesCo—Watert'n L A P 1st M if call 105-lst M A Ref auth $10,000,000 ■ fd call 105
-Co.c* 1913
Collaterial trust notes auth $381,600
—-———C 1917
500 Ac
1.654.500
1.000
1,000
stock-.---.—
Northwestern Gas-Light & Coke Co—See Pub Serv Corp
electric plant on Oswego River at Minetto. N. Y.
tracts for supplying 13 public service corporations,
Q—J
J
5
Jan
A
11959
New York
J
A
5
New York A Watertown
July 1 1963
6
New York
376,600
MJ ALN May 11920
A
J Jan 2 1920 5% New York
4,000,000 101nl919 J
3,954.000 7%' 19 See text Jan 10 '20, 4% Checks mailed
Jan 20 *18 1H Checks mailed
6,170,000
7
Q-J 20
17,839,500
do
7
Q-J 15 Apr 20 *20 IX
1910
500 Ac
24.567.500
1916
1918
1904
500 Ac
7.805,000
2,000,000
7.403.000
553,000
111.500
100 Ac
1.000
bonds
Divisional preferred
June 21 1920
Checks mailed
do
May 20 '20 1H
do
May 20 *20 1 X
Mar 31 '20 IX
do
Apr 11920 IX 30 Broad St, New York
Q—M
Q—F
Q—F
Q—M
1.629,500
100
100
100
100
Northern Pipe Line Co—Sttwk--------—
Northern Securities—Stock $3,954,000—-------------Northern States Power (Del)—Common stock $50,000,000
Pref (a A d) stk 7% cum $50,000,000 call 110 A diva
Northern States Power Co {of Minn.)—
IstARef M$100,000,000 g caI1105tiH'36 then 102H Qc*&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 cony notes $3,500,000 Call (text)
a.nxk.c*
Minneapolis Gen Elec 1st M red 110 (V 95. p 180)
xc*
Divisional
$8,500,000 8X 1919
1.674.200 6 in 1919
Places Where Interest and
Dividends are Payable
A
A
O
A
A
A
D Dec
New
O Apr
J
5 g
Apr 1 1941
§g
7 g
5 g
York
and
Chicago
New
York and Chicago
New York and Chicago
1 1926
FA A 15 Aug 15 1923
Old Colony TrCo.Boston
1 1934
of Nor thern 1111 nols
Has long-term con¬
which operate 1,100
and interurban roads
extending to points between Rochester, Buffalo, and Erie, Ac.
V. 106,
p. 2753, 612; Y. 95, p. 1691; V. 89, p. 1415; V. 88, p. 1317; V. 109, p. 771.
892.
Also supplies Niagara A Erie Pow. Co.
V. 94, P-1692; V. 92, p. 530.
In Jan. 1918 absorbed its subsidiary, the Salmon River Power Co. (own¬
ing 35,000 h. p. hydro-electric plant 42 miles northeast of Syracuse. Y. 98.
1320; V. 99. p. 53; V. 102. p. 1442,1991; V. 103, p. 1036; V. 105, p. 2278.
In 1915 leased from Northern New York Power Corp. a 12,000 n. p. plant
at Minetto, N. Y., on Oswego River, with $900,000 1st M. serial 6s of 1915
($2,600,000 auth.), guar. p. A I., by Columbia Mills.
Y. 100, p. 1082,1597.
miles of road In Oswego, Syracuse, and Rochester,
REPORT, Ac.—For
year
end. Dec. 31 1919, V. 110,
p.
876, showed:
Cal. Year—
1919. ~
1918.
1919.
1918.
Gross earns_.$2,796,241 $1,997,880 Divs. (5%) —$1,489,665 $1,489,665
Net income-. 2,545,967
1,604,074 Bal., surplus. 1,056,302
114.409
DIRECTORS.—Wm. Nelson Cromweif .(Chairman) .Edward Q. Keas-
bey, John I. Beggs, Henry H. Pierce, J. D. Mortimer, Edwin M. Bulkley,
Charles S. Ruffner, James F. Fogarty, Charles F. Pfister, F. S. Smithers,
F. Vogel Jr., C. A. Coffin, W. J. Curtis, Bayard Dominlck, Morton Jourdan, Alex. Dow, F. J. Wade, E. G. Burkham, Albert B. Boardman.
Pres., James D. Mortimer; V.-Pres., H. H. Pierce, C. S. Ruffner; V.-P. A
Treas., R. L. Warner; Sec. A Asst. Treas., J. F. Fogarty; Asst. Treas.,
Robt. Sealy; Asst. Sees., F. H. Piske and Robt. Randall, 30 Broad St.,
N.jY.—(V. 110, p. 975, 1193, 1419.)
Recapitulation.—Sources of Power Supply, Aggregating 147,000 h.p.
Niagara River (power purchased from Ontario Power Co.)
60,000 h. p.
Power plant on Salmon River (company's own plant)
35,000 h. p.
Power plant at Minetto (leased from North. N. Y. Pow. Corp.) .12,000 h. p.
Steam plant at Lyons (company's own plant)
40,000 h. p.
Connected high voltage transmission lines
1,019 miles
NORTH AMERICAN PULP & PAPER CO.'S TRUST.—V. 109,
NORTH BUTTE MINING CO.—(Y. 110,
(1) Public Utilities Corporations in Oswego, Syracuse, Auburn, Geneva,
Rochester, Batavia, Lockport, Depew, Lancaster, Hamburg/Jamestown,
Lackawanna, Dunkirk ana numerous smaller municipalities.
(2) Electric Railroads having a total length approximating 1,100 miles,
(3) Leading Manufacturers.—Lackawanna Steel Co., Niagara Smelting
Co., Atlas Crucible Steel Co., American Locomotive Co., Gould Coupler
Co. and other large industrial plants.
STOCK.—Outstanding stock, common ($5,000,000 auth.), $1,230,000.
cum. ($3,000,000 auth.), $2,750,300; 6% non-cum. Pref.
($2,000,000 auth.), $2,000,000; par $100.
Y. 95. p. 301.
V. 98. p. 1396;
Y. 99, p. 1915; Y. 104. p* 457.
Dividend on first pref. stock, IX % quar..
paid Sept. 1 1912 to March 1 1915, inclusive.
First Pref.6%
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
ing.
properties subject to $8,660,000 underlying bonds outstand¬
Auth., $15,000,000.
Sufficient bonds are reserved to retire the under¬
lying bonds, $1,980,000 were issued immediately and have been sold, the
balance being available for 85% of the cost of additions, under restrictions.
A sinking fund is to retire the total issue by maturity.
Y. 106, p. 2753.
V. 107, p. 2480; V. 108, p. 84, 977; V. 109, p. 771.
The $1,300,000 2-year secured 6% convertible gold notes of 1918 were
called in Feb. 1919 andfreplaced by Refunding bonds.
Salmon RiveriPower 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. A Ont. Power Co. and Buffalo A Lake Erie Traction Co.
Kiarantee 50% of 134 of Niagara A Erie Pow. Co. 1st 5s and annual sinking
nd payments each %, beginning Jan. 11916. Y. 94. p. 1692; Y. 92, p.530.
REPORT.—Year 1918 in V. 109, p. 771:
Sales of
Net
Other
Elec. Power.
Earnings.
Income.
1918—$3,146,759
1917
2,31i;718
1916— 1,883,431
—
$1,326,241
1,023.510
974.629
$47,925
31,586
208.465
Interest
Taxes,
Charges. Rents, Ac.
$581,616
477,453
364,659
485,412
290.857
Balance,
Surplus.
$287,112
$505,438
212,984
406,825
OFFICERS.—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. 108, p. 84, 977; V. 109, p. 771,
892.)
NILES-BEMENT-POND
CO.—ORGANIZATION.—Incorporated
oommon
stook ($2,000,000) of Pratt & Whitney Co., guar.
6% on latter's $2,000,000
pref. 8tock,_provlded that the guarantor earns same on Its own stock. V. 71,
P. 139: V
70. d. 1253; V. 72. p. 143; V. 78. p. 1113; V. 80. p. 1734.
V.
89, p. 998; V. 90, p. 563.
Also owns entire common stock of Nlles Tool Works, dividends of 6%
yearly on $1,000,000 having been paid regularly since 1890.
In 1905 and
1906 the entire stook of John Bertram A Sons, Ltd., and Pratt A Whitney
Oo. of Canada, Ltd., was acquired.
V. 81 p. 977: V. 83, p. 1350.
DIVS.—Jf'01. *02. '03. *04. '05-T2. 13. *14. *15. *16. *17. *18. *19. *20.
Com. (%)-! 6
8
8
7
6yrly
IX 0
IX
8
12
12
8X text
In 1920: Mar. 20, 2%; June 21, 2%.
Also 40% in common stock ($2,000,000) paid on com. stock Jan. 2 1907.
REPORT.—For cal. year 1919, V. 110, p. 557.
Net
Other
Preferred
Common
Income.
Income.
Dividends.
Dividends.
1919
.$2,158,897
$121,727
$233,351
$727,500
1918
3,105.505
16,428
238,584
1,020,000
1917
2,986,650
140,983
245,914
1.019,876
1916
4,964,780
125.479
289.688
680.000
Calendar
Year—
NORTHERN CALIFORNIA POWER CO. CONSOLIDATED—A Cali¬
having In successful operation 0 hydro-electric plants
Surplus.
$1,319,773
1,923,349
1,867,843
4.120.571
NORDYKE & MARMON CO.--(V. 109, p. 77, 684. 2362.)
NORTH AMERICAN CO.—Organized In 1890 In New Jersey and con¬
trols. or is interested In, The Wisconsin Edison Co., which controls Milwau¬
kee (Wis.) Electric Ry. A Lt. Oo. (see "El. Ry." Sec.) and Wisconsin Gas
A Elec. Oo. (V. 95, p. 1124,1279, 1335. 1478; V. 98, p. 1075, 1172), North
Milwaukee Light A Power Oo. and Wells Power Co.; also the electric light,
power & 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); Commercial
Telep. Co., Union, Mo.; also West Kentucky Coal Co. and the Detroit
Edison Oo.
Controlled cos. Dec. 311918, V. 106, p. 2446.
The West Kentucky Coal Oo. 1st mtge. 25-year 5% bonds, $1,839,000
outstanding Aug 31 '1919, have interest guaranteed.
Y. 81, p. 35. 563,
1178; V. 88, p. 999; V. 90, p. 301; V. 104, p. 1700.
*09.
3 H
also gas plants In
water-works, at Redding and Willows;
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 1919 the Pacific Gas A Elec. Co. had purchased 93,296 shares of
stock.
Properties wfere deeded to the latter company on Oct. 31 1919.
CAPITAL
STOCK.—Common
outstanding,
$10,000,000;
par.
$100.
Bonds.—Funded debt assumed by Pacific Gas & Elec. Co.
Outstanding
in hands of public Dec. 31 1919: Ref. A consol. 5s, $3,849,000; 1st M. 5s,
$808,000; Keswick Elec. Pow. 1st 5s, $22,000; Bottle Creek Pow. 1st 5s,
$84,000; Redding Water 1st 5s, $10,000; Sacramento Val. Pow. 1st 6s,
$396,000; Sacramento Val. Pow. 1st ref. 6s, $497,000; North. Cal. Pow.
series "A," deben. 6s, $382,005.
EARNINGS.—For year 1918 (V.
Oross
Net
109, p. 170) shows;
Other
Bond, Ac.
Other
Calendar
Year—
1918
1917
1916
Earnings.
$1,154,933
-
Earnings.
$661,110
Income
$11,190
554.416
470.438
965,915
846,227
17.746
11,221
-
Balance.
'Interest. Deduct'ns. Surplus.
$323,777
334.626
352,920
$344,673
$3,849
3,608
516
233,829
123.222
—(V. 108, p. 884, 2334; V. 109, p. 170, 277.)
NORTHERN PIPE LINE CO.—ORGANIZATION, Ac.— Incorp. In
Pennsylvania in 1889.
Owns pipe lines in State of Pennsylvania.
For¬
merly controlled by Standard Oil Co. of N. J., but segregated in 1911See
Standard Oil Co., V. 85. p. 210, 790; V. 93, p. 1390.
Stock. $4,000,000;
par, $100.
Div., 5% paid semi-annually July 1912 to July 1919.
In Jan.
1918 paid 5% and 4% extra.
REPORT.—For
1919, in V. 110, p. 567:
1918.
1917.
1916.
$416,778
(10%)400,000
$503,235
(10)400,000
$629,963
(14)560,000
$600,898
(10)400,000
$16,778
$103,235
$69,963
$200,898
Calendar Years—
Net
income
Dividends
—
1919.
—
-
Balance, surplus
OFFICERS.—D" S. Bushnell, President; J. A. Bartlett, V.-Pres. A Gen.
Mgr.; Geo. Chesebro, Sec.; W. F. Livingston, Treas.—Main office, Cll
City, Pa.
N. Y. office, 18 Broadway.—(V. 110, p. 567.)
NORTHERN SECURITIES CO.—In 1904 the capital stock was reduced
from $395,400,000 to $3,954,000. the par value of shares to remain at $100
pending completion of dissolution. Y. 78. p. 1168,1223,1275. 1392; V. 76,
p. 811, 919, 1249.
Report for cal. year 1919 in V. 110, p. 567.
^DIVIDENDS.—On stock
as reduced 5% yearly 1906 to 1908; 1909, 4%;
1910, 2X%: *11. 4%; 1912. 3%: 1913 to 1910. inch* yearly Jan. 11, 2%.
1917.Jan.,3K%; 1918, Jan. 8X%\ June, 3%; Jan. 1919,4%; July 1919.3%.
Jan, 1920, 4%V. 107, p. 2290: V. 106, p. 2346.
OFFICERS.—Pres., E. T. Nichols; Sec. A Treas., Nicholas Terhune.
Office, 26 Liberty St., N. Y.—(V. 110. p. 267, 567.)
*TToRTHERN STATES POWER CO. (of DELA.),—Incorp. In Dela¬
ware on Dec. 23 1909 (V. 90, p. 1299; V. 91, p. 467,592).
Stock authorized
$100,000,000, in $100 shares, having equal voting power, of which $50,000,000 Is common stock and $50,000,000 is 7% cumulative pref. redeemable
anytime at 110—see above table. V. 102. p. 2346; V. 94, p. 1511.
A hold¬
ing company organized by H. M. Byllesby A Co., Chicago.
See full state¬
ment to N. Y. Stock Exchange in Dec. 1916, Y. 104, p. 265.
Owns the entire capital stock, except directors' qualifying shares, of
u
Annual report.
Northern States Power Co. of Minn., which see below.
V. 102.p
1433.
Pref. divs. paid April 15 1910 to Apr. 20 1920, 7%. or
IX% Q.Vl. (V. 102, p. 1543).
An initial 1X% was paid on common stock
July 20 1916; Oct. 20, 1H%; Jan. 1917 to Jan. 1918, 1X%\ Apr. 1918
no common dividend was declared
due to increased operating costs. Ac.
8ee V. 106, p. 1349.
NORTHERN STATES POWER OO.
Balance,
Pres., James K. Cullen; V.-Pres., O. L. Cornell; Treas., John B. Cornell;
Sec., Fay Ingalls, 111 B'way, N. Y.—(V. 110, p. 557, 567.)
DIV'DS —
J1904 to Sept. 1907. *08.
Per oent
i
5 (1* Q.-March)
0
Loans payable (Dec. 31 1918), $4,177,500.
772.
'
In
New Jersey Aug 11 1899; makers of heavy machines.
Y. 69, p. 388;
Y. 105, p. 2370. Pref. stock is red. at 105 beginning 1921. Y. 91, p. 1634.
CONTROLLED COMPANIES—GUARANTIES.—Owns entire
p.
876. 1753, 2082.)
fornia corporation
combined installation 48.000 h. p.;
Principal Customers—Population of District Served, About 1,500,000
p.
*10 to Apr. 1 1920.
5 yrly
(IK Q-J.)
(OF MINNESOTA).
This operating company (until March 1916 known as Consumers' Power
incorporated in Minnesota in June 1909.
V. 102, p. 980.
Itowns
all the properties formerly comprising Northern States Power Co. sys¬
tem. directly or through ownership of all securities except $7,403,000 1st
(closed) M. bonds of The Minneapolis General Electric Co. and except
directors* qualifying shares.
Higher rates in 1918, V. 105, P. 2099
Supplies electric light and power to approximately 232 communities in
Minn., No. Dak., So. Dak., Wis., 111. and Iowa; 14 communities with gas; 5
with steam heating; 4 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,
Fargoiand Minot, N. D.; Sioux Falls. S. D., small communities In northern
Iowa and the zinc mining district in and around Galena. 111., and Platteville,
Wis.
Population served, 1,022,000.
In Dec. 1919 the installed hydro¬
electric plants had a generating capacity of 51,205ih.p. and the steam gen¬
erating plants of 87,115 h.p.
Also owns or controls undeveloped water
Oo.)
was
powers.
i
In summer of 1917 acquired a controlling interest in three groups of
electric light and power properties in Minn., which have $553,000 bonds
and 1$111,500 pref. stock outstanding
in the hands of the public.
BONDS" Ac.—First A Ref. M. of 1910
made
A
by Minnesota Oo. (V. 102,
v.1630), Is limited to $100,000,000 bonds, of which in Oct. 1919 $24,650,000 outstanding; the remainder may be Issued (a) for not over 75% of the
cost of permanent extensions A additions, when net earnings are twice the
annual bond interest charge, including bonds applied for: or (5) to retire an
equal amount'of Minn. Gen. Elec. Oo. bonds.
See Y. 104. p. 264; V. 105,
p.176: V. 106, p. 113D 2564; V. 102. p. 1441; V 108. p. 585; V. 109, P. 1371.
Mat, 1920.)
INDUSTRIAL STOCKS AND BONDS
MISCELLANEOUS COMPANIES
[For abbreviations, Ac., see notes on first page]
Date
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
Northwestern Telegraph—First mtge gold guar p As 1
Eq
Not* Scotia Steel & Coal—Ordinary shares $15.000.000—
1904
$500
1909
100
100 Ac
1909
£1 Ac
1912
100 Ac
Mtge debenture stock callable 105 after July 1 1919
(closed) guar s fd 1% call 105-c*Ar
Eastern Oar Co 1st M
do
do
Preferred stock 6% cum
Ohio Cities Gas Co—Common stock $100,000.000—
Pref stock. 5#% cum. $10,000,000
Preferred 6% cumulative, reserved for exchange (see text)
Convertible pref cum 8% (see text) $10,000,000 auth
Ser notes duo $625,000 a a call 102 till ' 19, then 101-Gxx.c*
Bond» of Controlled Companies—
See text
See text
J Jan
1
J
J
A
J Jan
1932
1 1926
400,000
mm
NORTHWESTERN TELEGRAPH.—Owns 10.000 miles ef wire and Is
bonds.—(V. 106,
710.)
p.
NORTON CO., WORCESTER, MASS.—(V. 109, p. 1530; V. 110, p.
172.)
NOVA SCOTIA STEEL & COAL CO.—ORGANIZATION.—Incorp.
in N. S. in 1898.
Owns steel plant, blast furnaces, collieries, and Iron mines
In Cape Breton County, N. S.
Also owns $800,000 of the $1,550,000 stock
of Eastern Car Co., Ltd., which on July 15 1919 paid 6% on pref. stock for
year 1918.
V. 108, p. 2532.
See full statement to N. Y. Stock Exchange
in 1916 on 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.
Proposed merger, see British
Empire Steel Corp., Y. 110, p. 1975.
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
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.
Dividends
of
on
the
'10. T1-T3. *14. '15. '16. '17. *18.
8
8 y'ly
4
12
8
8
8
common
2X%, payable July 14;
stock
on
0
0
2X
resumed in 1917 with
were
a
*20.
See
text.
'19.
8
5
6#
purpose
amount
p.
1917 stock dividend of 20% In common stock.
p.
BONDS, Ac.—First mtge. auth., $6,000,000; redeemed, $361,562.
Debenture stock is limited to amount of
paid-up capital.
Co. 1st 6s, $1,000,000, redeemed to Dec. 31 1918, $58,300. V
Nova Scotia Land Co. 1st 6s, due 1924, $50,000; redeemed,
REPORT.—For year 1919 in V.
Years—
1919.
Discount, reserve, Ac
charges
Preferred dividends (8%)
Ordinary dividends (5%)
-
1918.
$2,193,304
554,593
608,834
80,000
750,000
$3,535,525
1,206,969
612,064
80,000
750,000
Surplus.
$199,887
$886,492
Chairman, Thomas Cantley; Pres., D. H. McDougall; V.-Pres.t W. D.
Ross (Toronto); Sec.. Archibald McColl.
Office, New Glasgow, N. 8.
—(V. 110, p. 474, 1094, 1288, 1978.)
OHIO CITIES GAS
CO.—ORGANIZATION.—Incorp. in Ohio April
1914, per plan V. 98, p. 1463,1849; V. 100, p. 1746; V. 103, p. 2434.
Owns
the following subsidiary companies, the percentages representing The Ohio
Cities Gas Co.'s holdings: 99.77% of the Columbus Gas A Fuel Co., 100%
of the Federal Gas & Fuel Co., 100% of the Springfield GasfCo.,199.61%
of the Dayton Gas Co., 100% of the Mountain States GaslCo.; 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 A Refiners Pipe Line Co., owningi2,300*miles of
pipe line connected to 9,600 wells and operated byJ89lpump stations.
52.41% of the U. S. Pipe Line Co., 100% of the MoorelOibRefining Co.,
compounders of oil and manufacturers of grease andlsoap, owningj,three
distributing stations and 15 drive-in stations in Ohiofand Indiana.
A substantial interest in the Oklahoma Petroleum A
RefiningJCorp. 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 as pipe lines, casinghead gasohneiplants and
distributing stations in Oklahoma.
Also
owns
and operates oil and gas
\
properties
as
follows: Nearly
a
million
of leaseholds and fee land in
Ohio, West Va.f Ky., IlL.lKan., Okla.,
La., Tex. and New Mex., cf which 63,000 acres are operated!leases con¬
sisting of over 3,000 producing oil wells; 7 casinghead gasoline plants in Ohio,
W. Va. and Okla.; a ^alt
jplant in W. Va., havir g a capacity of 1.000 bbls.
of salt per day; 6 refineries in Penn., Ohio, W. Va. and Okla., whose total
refining capacity exceeds 25,000 bbls. per day; 1,674 tank cars,1 of which
1,519 are owned and 155 underlease: 41 distributing stations and 25 drive-in
acres
stations in Vt. Mass., N. J., Del., Md., N. Y., Pa., W. Va. and Ohio.
STOCK.—Common stockholders of record Feb. 15 1919
right to subscribe at par for $9,187,500 (25%)
were
given the
new common stock for the
Apr
15 '20 2X
June 30'20 16%
Apr
mm
1 1920 2%
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
and is pref. as to assets and divs.
(Q.-J.).
Redeemable, all
Divs.
are
power with com. stock
cumulative and payable quar.
part, at 110 and divs.
On March 19 1920 an issue of $10,000,000 conv. 8% cum. pref.
stock
was auth. andtoffered to com. and pref. stockholders at
par.
Convertible
into com. stock between July 1 1920 and July 11923 at the rate of two shares
of com. (par $25) for one share of pref. ($100).
DIVIDENDS.—
Common cash
do
or
(%) [1914.
{ 3X
In stock
1915.
5#
1916.
8)4
m[
*18.
20
T7.
19#
5
'19.
'20.
4,4,-,-'
17
5
NOTES.—Serials of 1917. V. 103, p. 2434; $625,000 paid off July 1 1918.
REPORT.—For year ending March 31 1920 (Year ending March 311919,
V. 108, p. 2326, 2343; V. 109, p. 575):
1919-20.
1918-19.
1919-20.
1918-19.
Gross
$54,304,091 $47,422,890 Depreciation__$l ,701,202 $2,305,984
Net
$13,964,295 $14,397,033 Pref. div.(5#)
525,OoO
474,332
Federal tax1,489,542
y7,334,164 x7,348,388
2,151,177 Com. divs
Interest--—
324.953
Amort, disc.
x|20%.
y
352,104 Balance, surp_$2,589,434 $1,713,848
51,2u0
17%.
Pres., Beman G. Dawes; V.-Ps., R. W. Mcllvain, W. E. Hutton, N. H,
Weber, H. N. Cole and G. O. Scott; Sec. & Treas., F. S. Heath.
Office,
Columbus, Ohio.—(V. 110, p. 172, 472, 1295, 1419, 2198.)
OHIO FUEL SUPPLY CO.—ORGANIZATION.—Incorp. In Ohio
May 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 960,000 acres of oil and gas
territory in Ohio.
Also owns the $5,550,050 stock (except $450 direc¬
tors' shares) of N. W, Ohio Natural Gas Co., and $4,410,000 of the $10.000,000 stock of United Fuel Gas Oo. (1st M. bonds, $8,967,000 outstand¬
ing.
See that company below and in V. 103, p. 1133; V. 108, p. 971.)
The
Ohio P. U. Commission in March 1920 approved the sale of the equipment
and distributingjkystem of the Logan Natural Gas A Fuel Co. at Logan to
the company.
STOCK.—Auth.,
Listed
on
$20,000,000
(par
$25);
'$19,813,000.
outstanding,
N. Y. Stock Exch. in 1917 (V.104,p.668). No pref. stock; no bds.
DIVIDENDS.—
Percent
1904-09.
'10.
'11-16.
'17.
'18.
'19-2010
9#
8
9# 10 A 2% US bds.
text
special disbursement was made of one share (par $1) of
Ohio Fuel Oil stock to each share of Ohio Fuel Supply stock held.
In July
1910 an extra dlv. of 60% was paid In 6% debenture bonds (all called for
redemption on or before Jan. 1 1917.)
In 1919, Jan. and July, 2X% and
2% extra in Liberty bonds; April and Oct., 2# %', Jan. 1920, 2#% and 2%
extra in Liberty bonds; April 1920, 2#%.
V. 107, p. 2194.
In Oct. 1909
a
REPORT.—For
year
ending Dec. 31
1919,
V.
110,
p.
1414
(xYears
ending April 30):
Dividend.
CrossNet.
1919.
—
1916-17x
1915-16x
$12,588,455
12,586,804
9,410,833
7,129,786
$6,298,738
6,004,640
3,473,484
2,498,469
$2,774,000
2,377,560
1,504,325
978,420
DIRECTORS.—Geo. W. Crawford
Taxes dep,Ac.Bal.. Surv.
$2,431,106
*1,407,634
—-
366,907
$1,093,632
2.219.446
1,969,159
1,153,140
(Pres.), L. B. Denning (Sec.), Col¬
umbus. O.; F. W. Crawford (V.-P.), J. M. Garard (V.-P.). O. O. Hagan,
Columbus, O.; M. O. Treat, Washington, Pa.; L. E. Mallory, Bradford,
Pa.; H. H. Dreibelbus, Zanesvllle, O.; and W. H. Thompson, Cleveland;
L. E. Mallory Jr.. Bradford, Pa.; J. B. Crawford, Oil City, Pa.; J. B. Wlkoff is Treas.
110, p. 1094:
Calendar
Combined profits after maintenance expend., Ac
Interest
Eastern Car
94, p 1698.
$27,700.
mm
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
V.
88, p. 1563.
mm
Equitable Trust Co, N Y
1st Nat Bk, Springf, O
N Y, Harris, Forbes AOo
Marl 1930
of expanding and extending the business, Ac.
This Increased the
outstanding to $45,937,500.
See V. 108, p. 585, 884, 2343; V. 109,
„
1064.
In Nov.
See above and V.105,p.2099.
V. 102,
mm
Guaranty Trust Co. N Y
575.
1918
„
mm
1921
July 1
8
declaration
Jan. 15 1918 paid 2X%\ April 1918 to Apr.
1920 paid 1#% quar.
V. 108, p. 1169.
In 1909 a 20% dividend In stock was paid.
mm*,
See text
5
leased to Western Union for 99 years, which guarantees dividends at 6%
A
5 g
1,421,000
MAS
19.813.000 See text Q—J 15
15,000,000 See text Q—M 31
See text
Q—J
5
OFFICERS.—Pres., H. M. Byllesby; Sec., R. J. Graf, Chicago; Treas.,
N. Y. office, Trinity Bldg.; Chicago office,
3
Trust Co, Ohls
Apr 1'20.1#% Central Union Tr, N Y
A
J. J. Molyneaux, Minneapolis.
6 y'ly
6
8
J
25
Un Teleg Co, N Y
Dec 31 1916
1 ^0 4% Central
J
1910
Payable
June
Q—M
Q—J
Q—J
Q—J
5 g
0
1896
are
Tor, Mtl, Bos, London
N Y, London, Montreal
N Y, London, Mont.,JM
J July 1 1952
6g
208 So. La Salle St.—(V. 109, p. 1371; Y. 110, p. 1969.)
4X
J July 1 1959
J Callable only
1,250.000
-
%
%
A
1,332.000
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 a$429,902
334,030
1916— 6,087,153
3,341,657
1,593,128
740,236
b283,813
724,480
LATE CASH DIV.—
A
1.000
100 Ac
1,000
25
REPORT.—For calendar year 1919, in V. 110, p. 1969, shows:
Cross
Net after
Bond. Ac. Pref. Div. Com.Div.
Balance
Year—
Earns.
Taxes.
Int.(Net.)
(7%).
a7%; b4# Surplus.
Preferred stock
A
J
750 000
Calendar
Common
J
J
6
1,000
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 surplus 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 Btock. 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 100#%; 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 stock
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.
Sinking fund to retire $200,000 notes Aug. 15 1920,
$300,000 Aug. 15 1921 and $400,000 on Aug. 15 1922, and proportionately
larger amounts If remainder of auth. Issue is sold, or a dividend Is paid on
common shares.
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, incl. notes applied for.
See V. 107, p. 909.
on
5 g
6
1892
C1CI
Dividends
West
1917
Ce.zc*
Places Where Interest and
Maturity
A
J Jan
4# g J
11934
Q—J 15 Apr 15 '20
Q—J 15 Apr 15*20
45,937.500 See text
10,000.000
5#
100
8% cum pref (a A d) stock, partic (text) $3,000,000 auth
$2,500,000 stock (par $50) and p. & i.
and
8
941,700
100
Ohio 00 Co—Stock
Okla Prod & Ref Corp of Amer—Com, auth $22,000,000
on
Last Dividend
5
4.500,000
100
25
100
-
Springfield Gas Co 1st M
Dayton Gas Co 1st M (V 90, p 702) g call 105
Ohio Fuel Supply Co—Stock $20,000,000
$1,500,000
15.000,000
1,000,000
5.638.437
100
Preferred (a A d) stock cum not callable
First mtge (closed) gold s fd X % call 105
Columbus Gas Co 1st M redeemable 110—
205
OHIO
Offices, Pittsburgh, Pa.—(V. 109, p. 2362; V. 110, p. 1193.)
OIL
CO.—ORGANIZATION, Ac.—Incorporated In Ohio in
Owns extensive tracts of oil lands In Ohio, Indiana and Illinois.
crude oil.
See Standard Oil Co. of New Jersey.
V. 85, p.
210. 790; V. 80, p. 984. 1227; V. 93. p. 1390.
The pipe Ilnef In
Pennsylvania, Ohio, Indiana and Illinois, about 1,100 miles in length, were
1887.
Produces
in Dec. 1914 transferred to the Illinois
Pipe Line Oo., the letter's $20,000,000 stock being distributed pro rata, In the proportion of 133 1-3%
among the Ohio OH Co. stockholders.
V. 99, p. 1078, 1915.
Shareholders
voted Jan. 31 1917 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. 101, p. 457
DIVS.—
[*13.
'14. '15. 1916 to June '19. Sept'19 ZJec'19 Maf20June'Z0
Regular, %__[ 20
20
20
20 (5 qu.)
5
5
5
5^
( 37
30
76 (19 qu-)
11
19
11
11
In 1920: March, 5% and 11% extra; June, 5% and 11% extra.
Balance sheet Dec. 31 1919, V. 110, p. 1419, showed total surpIus,T$63,415,864, against $63,839,642 Dec. 31 1918 and $65,950,750 Dec. 31 1917.
Has entered the North Central Texas field through its subsidiary, the
Mid-Kansas Oil A Gas Co.
V. 107, p. 1007.
Extra, %
-
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
Findlay, O.
Sec. is C. L. Fleming.— (V. 110. p. 876, 1419, 2198.)
of
OHIO STATE TELEPHONE CO.—(V. 110, p. 567, 1094, 1419,
OKLAHOMA NATURAL GAS
1648.)
CO.—(V. 110, p. 1296.)
f OKLAHOMA PRODUCING & REFINING CORP. OF AMERICA.—
ORGANIZATION.—Incorp. under laws of Maryland March 16 1918, to
engage in the producing, refining and marketing of oil and its products.
Acquired all of the physical properties and net assets of the Oklahoma
Producing A 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. 110, p. 667).
The Delaware
com¬
organized in Feb. 1916, and which was merely a holding company,
disposed of its holdings of stock of the Union des 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, about $2 30 in cash and 1# shares of Oklahoma
Producing A Refining Corp. of America.
pany,
Old Dominion Co (of Me)—Stock $8,760.000
Ontario Power—Stock, $15,000,000 authorized
First M $12,000,000 auth g s f (text)
c*
Gold debs secured by 2d mtge (Income tax not assumed)..
Ontario Trans in 1st M s f gu p & 1 red 110 to May '16—xxc*
Otis Elevator—Stock common $15.000,000
Stock (a & d) preferred 6% non-cum $6,600,000..
Otis Steel Co—Stock common 600,000 shares
.......
Pref (a & d) stock 7% cum call 110 $15,000,000
Owens Bottle Co—Oom stock $30,000.000
PrefAtk (a 8c d) 7% cum callable at 115 & dlvs $20,000,000
Pabst Brewing Co—Common stock $10.000,000
Pref stock (a & d) 7% cumulative redeemable 115
First mtge gold red 105 due $150,000 yearly June 1 „—c*
Par
Amount
Rate
When
Value
Outstanding
%
Payable
$8,750,000
10.000,000 See
9. $34,000
2,844.000
$25
100
1,000
1,000
1903
1906
1905
165
9,304,087
100
6,500,000
None
411,668 shs
1,000
$22,-
pref.
1920.
EARNINGS.—Nov. 30, see V. 110, p. 669.
A
Harrington, Sec. &
975, 1419.)
OLD DOMINION CO. (OF MAINE).—V. 110, p.
$10,000,000 capital stock deposited with Bankers Trust Co., Buffalo
or before June 15, $80 par value, 4% 40-year Gold Debentures of the
Hydro-Electric Power Commission or Ontario, guaranteed by the Province
or Ontario.
The transfer of the property took place Aug. 1 1917.
V.
105, p. 613, 2548; V. 104, p. 2348.
of the
on
BONDS.—First mtge. of 1903 ($745,000 canceled) only $1,421,000
additional Issuable.
See V. 91, p. 1176: V. 94, p. 1630; V. 86, p. 1413;
V. 85. p. 226; V. 80. p. 1427; V. 97, p. 1429; V. 98, p. 1396.
Ontario Trans¬
mission guar, bonds of the $2,000,000 issued $228,000 have
V. 92, p. 1315; V. 93, p. 51; V. 90. p. 306; V. 89, p. 352; V.
In 1917 all the bonds and notes other than those shown
table were retired (V. 105, p. 1714).
In 1918 the company was not paying any
been retired.
98, p. 493.
in the above
Federal income tax on Its
1st Mtge. bonds.
REPORT.—Report for year ending Dec. 31 1916 In V. 104, p. 2234:
Oross
Net (after
Other
Bond, Ac., Dlvs.
Balance,
Income. Interest.
$1,759,711 $1,417,322 $140,162$1008.786
Taxes).
Earnings.
1916
1915
1,606.950
1.525,571
1914
149,224
105.485
1,198.610
1,293,037
(5%).
Surplus.
$548,698
974.288
898,443
500,000
373,546
79
DIRECTORS (and Officers) elected In Aug. 1917; Pres., Sir Adam Beck
1st V.-P., Col. McNaughtJ 2d V.-P., Hon. I. B. Lucas; Sec., W. W. Pope,
and Treas., W. S. Andrews, and Col. O. S. Maclnnes and F. A. Gaby.—
Office, Niagara Falls, Ont.; 190 University, Ave.. Toronto.—(V. 104,
p.
2234. 2348; V. 105, p. 613, 1714. 2548; V. 106, p. 505.)
OTIS ELEVATOR CO.—Incorporated Nov. 28 1898 under the laws of
pref. stock.
V. 96,
1455.
The stockholders
stock, which has also outstanding $1 000,000 7% cum.
Investigation In Missouri, V. 99,
p.
on April 19
1920 to increase the authorized common stock from
$10,000,000 to $15,000,000.
voted
DIVS.—
On com.
i 1907-10.
%-\3% yly.
Apr. '11 to Jan. '14.
4% yly. (1% quar.)
Since to Jan. '20
1)4% quar.
Apr 1 1920 1H
o—J
See
Apr *20
2%
REPORT.—For cal. year 1919. in V. 110. p. 1410:
Pension Reserves,
Federal
Pf.Divs. Com.Div.
Fund.
Ac.
Taxes.
(6%).
(5%)
1919-$3,031,626 $100,000 $946,086 $750,000 $390,000notstated
1918- 1,803,409
70,000
340,919
380,000
390,000
318,575
1917- 1,788,577
100,000
739,305
150,000
390,000
318,575
1916- 1,036,589
50,000
2^0,000
390,000
318.575
Net
Earnings.
Balance,
Surplus.
$845,540
303,913
90,697
28,014
Chairman, W. D. Baldwin; Pres., Floyd O. Furlow; Sec., T. M. Logan;
Treas., R. H. Pepper; Aud., O. K. Kirkbride.
Office, 11th Ave. between
26th and 27th Sts., N. Y.—(V. 110, p. 1094, 1296, 1410, 1640, 1753.)
OTIS STEEL CO., CLEVELAND.—ORGANIZATION.—Incorp. in
Ohio Jan. 3 1912 and acquired the Otis Steel Co., Ltd., an English Co..
registered in 1895.
In July 1919 reorganized and acquired the Cleveland
Furnace Co.
Properties comprise: (a) the Riverside Works occupying some
350 acres, on which are 2 blast furnaces, 100 Semet-Solvay by-product
coke ovens, mills, ore docks, &c.; (b) The Lakeside works, on about 22
acres, on which are 8 open-hearth steel furnaces, mills 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, 1,250,009 gallons crude benzol
and toluol and 600,000 lbs. sodium ferricyanide.
See V. 109, p. 178, 277.
New construction in 1920, V. 110, p. 876.
STOCK.—Pref. stock is callable at 110.
stock issued out of profits after pref. divs.
Sink, fund, 3% of total Pref.
beginning 1925.
No mortgage
without consent of 2-3 of outstanding pref. stock.
Wm, Salomon & Co., in
Mar. 1920, offered $5,000,000 pref. stock, making the total amount out¬
standing $9,830,600.
V. 110,
Common stockholders
p.
1193.
of record
Mar.
1
1920
were
given the right
EARNINGS.—For 3 months ended Mar.
DIVIDENDS.—Since incorporation had paid the regular s-a dlvs. on
its old pref. stock, called for payment on Oct. 1 1919.
Divs. of 1K%
quarterly have been paid on the new pref. (Q.-J.) to April 1920.
On the
com. stock (par $100) prior to Oct. 1 1919 paid divs. as follows:
Year
1913
1914
1915-16
1917
1918
1919
%
1
1
None
12)4 10(+10ext) 5
31
1920:
Net (before Fed.
$189,019; miscel.,
Calendar Years
Oils Steel Co.—
$3,363,937
223,500
30u,000
610,758
$2,876,579
10,729
550,000
$5,694,624
89,203
550,000
$992,862
Depreciation
Net
—
1916.
1917.
1918.
1919.
$2,315,850
$5,055,421
$2,840,437
1918 $3,635,000
xProflt after Fed'l taxes-$l,603,620
Int. on bds. & gd. notes.
profit for
year...
xThe provision for Federal taxes in 1917 was $5,071,761,in
1919 $88,178.
and in
Balance
Surplus.
$1,289,736
428,308
Net after
deprec.A Fed.tax.
$1,383,814
482,643
12 months Mar. 31 1918
Interest
Charges.
$94,078
54,335
322,809
41,565
281.244
xl22,946
12 months Mar. 31 1917
67,305
55.641
deprecia¬
——
31 1918—
—
Figures for 1919 are shown before making any provision for
tion or Federal taxes.
x
DIRECTORS.—William G. Mather, Chairman; George Bartol (Pres. &
Treas.), D. T. Croxton (V.-P.), Howard F. Deverell (V.-P.), S. Livingston
Mather, H. A. Raymond, William B. Sanders, John Sherwin, P. F. Wilson,
Cleveland; E. R. Tinker, Elisha Walker, New York: with H. B. Miller
(Sec.).
Office, Cleveland.—(V. 110, p. 1296, 1855. 2198.)
OWENS BOTTLE CO.,
TOLEDO.—ORGANIZATION.—Incorporated
on Dec. 16 1907, succeeding a N. J. corporation of the same name
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 patent#
covering which are held by the Toledo Glass Co., an Ohio corporation.
Plants at Toledo, O., Clarksburg, Fairmount and Charleston, W. Va.. and
Greenfield, Ind.
Output includes bottles for catsup, chili sauce, salad
dressings, syrup, perfume, proprietary medicines. druggists' bottles. &c.
See stock, V. 103, p. 1795, 935, 936, 1596.
In July 1917 purchased prop¬
erty of Kanawha Mfrs. Gas Co. and July 1 1918 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, V. 109, p. 773.
in Ohio
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 divs. on 90
days'
aotlce.
Recapitalized in 1916, old
pref.,
$500,000. being retired
$7,257,400 new pref., also $1,550,000 new common, being Issued.
V. 103, p. 935, 660, 1596; ^ .104, p. 2122, 2016, 2456.
On Jan. 1 1920
common stock outstanding, $10,391,900;
total amount authorized to be
listed on N. Y. Stock Exchange, $10,556,900, when and as Issued, includ¬
and
ing a block held in trust for 5 years for employees.
See V. 104, p. 2122,
2016, 2456.
On Jan. 1 1920 pref. stock outstanding $9,587,500.
To re¬
imburse the 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 1
1919.
DIVIDENDS
ON COMMON STOCK.—
•10-T1. T1-T2. '12-T3. '13-T4. 'I4-T5. '15-T6.
Paid In cash—%
Paid in stock.—
12
12
—
12
12
50
10
33 1-3
25
12
20
*16-'20.
text.
extra 8%
20% p. a.,
In April, July and Oct.
1918 paid regular quarterly 3% in cash and extra divs. of 2% on the common
stock In Second Liberty Loan 4s at par.
In Jan., April, July and Oct. 1919
and Jan. and Apr. 1920 paid 3%, no extra.
A stock dividend of 5% was
quar.
regular 3% and 2% extra.
paid July 1 1920.
BOTTLE SALES.—For cal. year 1918 (Incl. sub.
cos.) aggregated 4,998,-
804 gross bottles; for 1919 estimated 4,946,649 gross.
REPORT.—For 1919, in V. 110, p. 1754, shows:
Cal. Year
15 Mos. to
1919.
Dec. 31 '18.
Year to
Sept. 30'17.
$3,266,389
988,238
1,363,517
$4,355,111
1,174,485
1,533,066
$3,833,069
988,329
1,161,470
$3,641,667
574,900
$4,713,692
698,179
1,000,000
$4,006,299
$3,066,767
$3,015,512
$4,006,299
Net profit
Dividends from controlled companies.
Profit from controlled companies
Gross income.
Federal taxes and contingencies.:
Special
depreciation
Balance,
surplus
OFFICERS.—Edward
D. Libbey,
Chairman and Pres.; Wm. S. Wal-
bridge, Michael J. Owens, J. D. Biggers and Wm. H. Boshart, V.-Pres'ts;
Frederick L. Geddes, Sec., and J. C. Blair, Treas.—(V. 109, p. 1799, 2270;
V. 110, p. 1754.)
PABST BREWING CO.,
porated inWisconsin in 1871.
MILWAUKEE.—ORGANIZATION.—Incor¬
Plant at Milwaukee, capacity 2,000,000 bbla.
V. 9i . p. 42
Prohibition
485. 1941, 2246.
New Pabst beverages were
vearly; also 428 properties In 187 cities, mostly for distribution.
Reduction in output.
V. 107, p. 35, 1197.
V. 106, p. 1349.
and liquidation, V. 108, p.
brought out in July 1919. V. 108, p. 2635.
STOCK.—Stock,
common,
$10,000,000; $236,000 in treasury.
No bonds
or other obligations secured by lien can be outstanding in excess of $2,600,000
while the pref. stock is outstanding.
Pref. divs., 1K % quar. to Mar. 1920
incl.
On common, in 1912. 8%; 1913, 4)4%; 1914, 4%; 1915 (to Dec. 15).
4%; 1916, 5%; 1917, 4%; 1918, 4% to Sept. 5.
The pref. shareholders in Jan. 1919 were given an opportunity to offer
their stock for sale to the company, V. 108, p. 274, 485.
As of June 1 1919
only $681,900 of pref. stock remained outstanding and about $1,250,000
bonds. V. 108, p. 2129.
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.
—
By check
text
—
Cal.
Yrs.
do
taxes), $1,089,118; interest, &c., $29,505; depreciation,
$14,045; surplus, $39,910.
incl. for each
New Jersey and took over about 13 plants. See V. 67, p. 1161; V. 74, p. 271.
V. 75. p. 552; V. 83. p. 441; V. 91. p. 399; V. 94, p. 825; V. 100. p. 1076;
Owns over 99% of the $1,700,000 Otis-Fensom Elevator Co. of Toronto
1093.
do
do
On Oct. 1 1916 paid on common shares regular 3% and an
V. 103, p. 1122.
From Jan. 1 1917 to Jan. 1918, lncl.. paid
ORPHEUM CIRCUIT, INC.—V. 110, p. 366, 975,1094.
p.
do
do
do
7
Apr 1 1920 IK
Q—J
Checks mailed
text See text
9.764,000 4 In 1919 See
681,900 7 In 1919 Q—M 15 Mar15 20 1 K% Checks mailed
J
&
D To June 1 1927 Wisconsin Tr Co, Milw
4 g
1,250.000
9 months Sept. 30 1919
(THE) ONTARIO POWER CO. OF NIAGARA FALLS.—ORGAN!
ZATION.—Organized under special charter of Canadian Parliament and
operates hydro-electric plant on Canadian side of Niagara Falls below
Horseshoe Falls; 169,000 h. p. installed May 1914.
Owns all the stock of
Ontario Transmission Co.. guarantees its bonds and operates its property
under lease ending April 1 1950, with option to purchase or renew the lease
for 40 years.
V. 91, p. 720; V. 92, p. 1315.
Has contracts to sell power
to Niagara Lockport & Ontario Power Co.
See that company.
Proposed
plant extension In 1918, V. 105. p. 2548.
In Feb. 1918 the Bank of Montreal had agreed to advance $1,250,000
to the company for use in part to construct a pipe line and install turbines
and generators in the plant at Niagara Falls, costing $1,800,000; the addi¬
tional $550,000 was to come out or surplus earnings.
V. 106. p. 505.
In June 1917 the Ontario Hydro-Electric Commission contracted to pur¬
chase the property (see V. 104, p. 2348), giving for each share (par $100)
Payable
Office. 26th St & 11th Av
15 Apr 16 '202%
do
do
•
15 Apr 15'201)4%
Q—J
7
9 months Dec.
567, 975, 1532.
are
Can B of Com, Tor orNY
1 1943
Feb
J1 July 1 1921
N May 11945
Cleveland Furnace Co.—
OFFICERS.—T. O. Lilystrand, V.-Pres.; L. P.
Treas.
N. Y. office, 14 Wall St.—(V. 110, p. 654,
Dividends
Maturity
9,587,500
100
100
(all owned by Union des Petroles d'Oklahoma), and $20,800,000 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
has received par value.
Both classes have equal voting power.
V. 110, p.
667.
Right to subscribe for Ohio Cities Gas Co. pref. stock, V.llO.p. 1419.
DIVIDENDS.—A dividend of 2% quar. on com. stock was paid April 1
&
10.391.900 12 in' 19
25
100
CAPITAL STOCK.—Authorized, $3,000,000 8% cum. pref. and
000,000 common; par value (both classes), $5. , Issued, $3,000,000
&
J
g
See text
100
f
5*
and
Q—M 30 Dec 31 '18. $1 Boston
Dec 1 *14,
1H
Q—M
M 8c
5
In 1919 Q—J
6
Q—J
1.805.000
1906
text
Places Where Interest and
Last Dividend
Date
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, Ac., see notes on first page]
[Vol. 110.
BONDS
INDUSTRIAL STOCKS AND
206
REPORT.—Report for cal. year 1917, In V. 106, p. 2752, 2763.. showed;
1917.
1916.
1915.
1914.
$452,620
$773,165
$454,004
$654,120
60,121
67,736
83,441
98.931
Pref. dividend (7%)—
112,688
125,935
137,235
140,000
Common
dividends. (4 %)390,560 (5 %) 488,200 (4 %)390,560 (4 %)389,958
Balance
defll0,749
sur91,294
defl57,232
sur25,231
Profit and loss, surplus1,474,867
1.585,616
1.494,322
1.691,435
Gross
income—.
Interest on bonds, &C—
.
Date
MISCELLANEOUS COMPANIES
IFor abbreviations, die., see notes on first page]
...
.
Value
$7,000,000 4%lnl8
1,525,000 5 In 1918
4,000,000 4 In 1918
5.000.000
5g
1«07
1.000
1919
300,000
8,323,750
34,004,058
29,976,780
72,000
y36,542,000
4,195.000
*18,889,000
50
100
100
100
^
xxxBac*&r*
1911
MSc*xxx
1903
1907
USc&r*xx
MSxxx
USxxx
T665
1901
1,000
1901
1897
1,000
1,000
500-1.000
1892
1902
1893
1908
Milwaukee.—(V,
Office,
108,
1903
1900
G
the
Ifor
on.
1941,
'
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, WB., juiieau and Nome, Alaska. (V. 83, p. 1048.)
iiu, Ore., Juneau
DIV. Since '09—
1920.
['11. '12. '13. '14. '15. '16. 17. '18. '19.
"
4
4
Common
6
6
6
5
2
0
4
%
First preferred
5
5
5
5
5
5
5
5
5
IX,1X,-,,%
4
4
Second preferred._%
4
6
6
6
5
4
4
1. 1.
—
After 4% on 2d pref. and com., these share equally. V. 92, p. 122.
In
Aug. 1914 divs. on 2d pref. and com. were reduced from 1 X to 1 % quar.
V. 99, p. 202.
The common div. was resumed Feb. 1 1917 at 1% quar.;
action taken
on
Feb. 1920 div.
NOTES.—Issue of 1919, see V.
109, p. 1457.
in V. 109,
REPORT for year ending June 30 1919
1918-19.
Other income...
Gross income.
1372.
1918-19.
1917-18.
$
$
$
June 30 Year—
$
Gross earnings._5,312,938
Net, after taxes.
p.
1917-18.
5,815,400 Total chgs., &c_
978,857 1st pf. div (5%)
202,686 2d pf. div. (4%)
Com. divs. (4%)
794,483 1,181,543
Surplus
722,397
72,086
268,428
76,250
160,000
280,000
396,865
257,543
76,250
160,000
280,000
20,690
OFFICERS. &c.—Pres.. Wm. M. Barnum, N. Y.; V.-P. & Gen. Mgr..
E. O. Ward, Seattle; Sec., John H. Kelly; Treas., Walter Barnum.
office, 10 Wall St.—(V. 110,
PACIFIC
p.
DEVELOPMENT
N. Y.
267.)
CORP.—ORGANIZATION.—Incorp
in
New York, Jan. 18 1917, primarily a holding company owning stock in
the following companies engaged in importing, exporting and industrial
development, especially in the Orient:
Pacific Commercial Co. (80.43%),
Andersen, Meyer & Co., Ltd. (99.75%), Hartmann Bros. Inc. (100%),
Hartmann Pacific Co. Inc., formerly known as New York Pacific Commer¬
cial Co. (100%), American Machine & Mfg. Co. (100%), Sun Cheong
Milling Co. (100%), W. A. Pratt & Co. Ltd. (100%), International Vege¬
table Oil Co. (100%), South Seas Pacific Co. Inc. (100%).
V. 104, p. 668;
V. 106, p. 2564.
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 of stock for each share held.
V. 109,
p. 178.
Stock listed on New York Stock Exchange in Oct. 1919.
DIVIDENDS.—Initial
dividends of 1^% paid Aug. 15 1917, which
paid quarterly to Aug. 15 1919, incl.; Nov. 15 1919 to May 15
1920, 2% quar.—V. 109, p. 1456.
Report for calendar year 1918 in V. 109, p. 181, showed:
Calendar Years—
1918.
1917.
Expenses
Dividends
paid
Balance, surplus
DIRECTORS.—Andrew W.
$1,736,905
627,299
281,095
_._(7%)330,391
$1,226,624
334,746
101,600
(3)4)112,312
$119,268
profits sub. cos. after est. war taxes
Dividend income Pacific Dev. Corp
$103,455
Preston, Arnold Hartmann, E.
B. Bruce
(Pres.), E. H. Hartmann (V.-P.), Francis R. Hart, Frank Hawkins, Galen
Stone (Chairman), Herbert Fleishhacker, Herbert H. White, J; W.
Conway, Lester H. Monks, M. F. Loewenstein, Richard F. Hoyt, Royall
Victor (V.-P.), Vilhelm Meyer, George W. Simmons, William
Endicott,
W. W. Banks, H. M. Billingsley, Louis Banigan (Sec.), Charles Meurer,
N. Y.
Office. 80 Wall St.—(V. 109, p. 77, 178, 170, 181, 1466, 1614,
1898)
PACIFIC FRUIT EXPRESS CO.—(V. 110, p. 2082.)
May 1 1920
nected load 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¬
$34 per share, thus acquiring 525 miles of high-tension lines and
1,611 miles or low-tension lines, a valuable power site on the Pitt River,
potential development of at least 90,000 h.p. and six hydro-electric generat¬
ing plants on Battle Creek and Cow Creek, with an aggregate installation
of nearly 50,000 h.p., then marketing 30,000 h.p.
V, 109, p. 173.
In
Dec. 1919 applied to the Calif. R. R. Comm. for permission to lease for 15
years the properties of the Sierra & San Francisco Power Co.
V. 109, p.
dated at
2362
Franchises in
over
perpetual, the
April 6 1914 having ruled that all franchises of
176 cities and towns. It is claimed, are
U. S. Supreme Court on
Sublic service were of perpetual duration and could not be altered. prior to
ict. 10 1911, corporations within the State or California obtained
75-cent gas rate held valid.
See V. 109, p. 2444.
do
do
.
do
May 15 '20
Apr 15 '20
Feb
16 '20
Feb
1%
16 '20
J Jan
&
1 1942
In N. Y. & San Francisco
&
Mar 1 1933
Mercantile Tr Co, San Fr
&
Nov 1 1937
§g
&
Sept 1 1930
Apr 1 1931
National City Co, N Y
National City Co, NY
Union Trust Co, San Fr
&
8
&
Oct
6
&
June 11929
5 g
&
Aug 1 1931
Mercantile Tr Co, San Fr
6
1 1928
&
Nov 1 1927
Guaranty Tr Co, N Y
&
June '20
&
Sept 1 1939
Union Trust Co, San Fr
In San Francisco
In N Y, San Fr & London
5
to *22
Mar 15 1938
M-S 15
J
&
J July 1 1932
6
5 g
5 g
M
&
J
&
F
I'
&
g M
U S
May 1 1930
July 1 1923
Aug 1 1938
4 g
&
Nov 1 1933
Q—M
4K
Mtge & Tr Co, N V
Farmers L'n & Tr Co,NY
Oakland Bk of Sav, trus.
Union Trust Co, San Fr
Sept 1 1930>
»
do
do
1911.
STOCK.—In July 1914 the Issuance of the initial $12,500,000 1st pref.
stock (auth., $50,000,000) for impts., exts., refunding, &c., was authorized.
The old pref. stock ($10,000,000 auth. and outstanding) became 2d pref.
and the auth. amount of
000.
V.
reduced from $150,000,000 to $100,000,-
com. was
The 2d pref. stock is convertible
pref. and has mostly been thus retired,
only $72,800 being outstanding Sept. 30 1919.
In July 1919 sold about $5,000,000 First Pref. stock to provide for pur¬
chase of Northern California Power Co. Consol.—See above, &c.
V. 109,
p.
173, 271, 578.
In Dec. 1919 the California R. R. Comm. for an extension from Dec. 31
1919 to June 30 1920 for the selling of $3,500,000 First Preferred stock.
V. 110,p. 82.
Common
stock
to
the amount of $31,696,867 in addition to that
reported outstanding is owned by subsidiary companies.
98,
p.
1846; V. 99, p.
121.
since July 1 1916 into 102 X % of 1st
'06. '09. '10. '11. '12. '13. *14. '15. *16. '17. '18. *19
DIVS—
1920.
Orig.(2d)Pf% 134x
66
6
6
6
6
6
6
661)4
New 1st Pf % (V. 98, p.1846; V.99, p.121) IX
6
6
6
6
6
IX
Com
%
3k 2)4 3X
5 text 5 IX,IX
do
in stk %
50
6
x Accumulated 20% in dividends settled in stock.
V. 89, p. 104.
Dividends on common stock were resumed April 21 1919 after an interval
of IX years, with payment of 1X%, V. 108, p. 1512.
__
__
__
__
__
__
__
__
—
BONDS.—Of the $150,000,000 General and Refunding Mortgage bonds,
the unissued portion is reserved to retire underlying bonds, and 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 & int.;
also red. at 105 & 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 old divisional bond issues were quite fully described in the 'Electric
Railway" Section of Sept. 1918.
Further particulars as to leading issues
may be fouii
as follows: Cal. Gas & Electric Corp. (a) Unifying & Ref.
Mtge., V. 86, p. 1158, 980; V. 88, p. 1199; V. 90, p. 1677; V. 93, p. 1191;
V. 95, p. 1332: (5) Gen. Mtge. & Col. Tr. bonds, V. 94, p. 351.
$4,492,000 are deposited under Unifying & Ref. Mtge. and $1,697,490 on April 30
1919 in sinking fund.
NOTES.—The $10,000,000 5-year collateral trust convertible notes of
1920 are convertible at par into Pac. G. & Elec. Co. 1st pref. 6% cum.
stock at 95 at any time prior to April 1 1925; or into Pac. G. & Elec. Co.
common stock at 80 on or before May 1 1922, and thereafter and prior to
j
^
"
April 1 1925 at 85.
Secured by deposit of
gen. & ref. mtge. 5s of 1942.
REPORT.—For cal. year 1919:
Periods
Operating
Revenues.
Ending—
$15,000,000 Pac. G. & Elec. Co.
„
^
r
Tot. Net aft. Bond Int.,
Tax & Dep. Disc'l, &c.
^
7,375,388
6,467,037
Dec.31'18(12ms) 22,595,517
Dec.31'17(12ms) 19,813,382
4,304,085
4,285,957
,
Preferred
Dividends.
Dec.31'i9(12ms)$26,582,688 $7,833,561 $4,285,257
Balance,
Surplus.
------
1,490,463
1,471,105
Served for Calendar Years.
1918.
1917.
1915.
254,433
243,182
227,586
209,412
194,374
166,149
12,705
12,655
9,432
463
446
378
1,580.840
709,975
Number of Consumers
Gas
1919.
269,870
Electricity
235,719
Year—
Water
14,587
443
..
Steam
L.
PACIFIC GAS & ELECTRIC CO., San Francisco.—See Map.—
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 56% 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 33 counties of central and
northern Calif., having an area of 47,242 sq. miles and a population [1910]
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 1919 the company owned and operated nineteen hydro¬
electric generating plants having an aggregate installation of 210,924 h. p.,
three modern steam turbine electric plants with an aggregate installation
of 120,643 h. p., or a total installed capacity of 331,567 h. p.; also 303 sub¬
stations and 7,700 miles of transmission and distribution lines with a con¬
do
1%
D Junel 1946
Notes.
rate was
Net
1% Bankers Trust Co, N Y
do
do
May 1 1920 1X
5 g
5 g
*1,757,000
5 -year 7%
PACIFIC COAST COMPANY (THE).—This company owns all the
securities of Pacific Coast RR. (old Col. & Puget Sound RR.)t Seattle to
Franklin, Wash., &c., with branches, 57 miles; Pacific Coast Ry. (narrow
gauge). Port San Luis, Cal.. to Los Alivos, &c., with branches, 103 miles;
Pacific Coast Coal Co.. owning Franklin mines, with 3,850 acres at Frank¬
no
J
500
274, 485,
p.
6
*1,455,000
*222,000
*6,819,000
1,000
1.000
*494.000
&
R ef. Mtge. of
Maturity
Nov 1 1919
Q—FT5
Q—J
Q—p
Q—F15
6
*2,095.300
*713,000
*1,407,000
OFFICERS.—Pres., Gustavus Pabst; V.-P.. Henry Danfshefsky: Sec. A
Stark.
Text
*2.033,000
54,000
1,000
1,000
1,000
1902
and
Q—F
Q—F
Q—F
&
Places Where Interest and
Dividends are Payable
Last Dividend
1920-1924
*1,055.000
*524,000
*166,000
*179,000
*645,000
1899
1893
zz
United Gas & Elec Co 1st M gold s f
MSc*xxx
Valley Counties Power Co 1st M gsf not call
MSxxx
So Yuba Water Pow Co Cons M gold call 110
zzF
Suburban Lt & Pow Mtge not call
c*xxx
S F G & El Gen Mtge s fd gold
USxxx
Pacific Gas Impt Mtge gold s fd call
zz
♦All of these issues have been closed under the terms of
x Excluding $1,000,000 in treasury Dec. 14 1918
y Does not include $15,000,000 bonds deposited as collatera
1,000
1,000
1900
Bay Counties Power Co 1st M g not call
Bay Counties Power Co 2d M g call 105
Nevada Co Elec not callable 1st M—
zz
Yuba Elec Power not callable 1st M
zz
Cal Cent Gas & Elec Co 1st M g s f not call
MSzz
Sacramento El Gas & Ry 1st M g call 103 for s f
czz
Central El Ry 1st M ($400,000) $25,000 due ann g___zz
Standard Elec Co 1st M guar p & i
zz
—
When
Payable
100
—
Blue Lakes Water 1st M not call..
%
100
Pacific Gas & Elec Co—Com stock $100,000,000 auth
-
Bate
$100
.
1st pref cum $50,000,000 auth
2d pref stock 6% cumulative
Gen & Ref M ($150,000,000) g s f call
Cal Gas &f Gen M & Coll Tr g s f call 110
El Corp) Unify'g & Ref M g call 110
Amount
Outstanding
Par
Bonds
Pacific Coast Co—Stock common $7,000,000 (see text)
First pref (a & d) stock $1,525,000 5% non-cumulative..
Second pref fa&d) stk $4,000,000 4% non-cum (see text)
First mortgage $5-000.000 gold
,.Ba.xxc*
Serial notes due about $50,000 yearly after 1920
Pacific Development Corp—Stock $25.000,000
Treas., H. J.
2129. 2635.)
207
INDUSTRIAL STOCKS AND BONDS
May, 1920.]
V
477,013
520,619
Total
450,657
403,545
1911.
176,131
102,024
7,257
101
285,513
OFFICERS.—Pres., F. G. Drum; V.-P. & Gen. Mgr., John A. Britton:
V.-P. & Treas., A. F. Hockenbeamer; Sec. & Asst. Treas.. D. H. Foote;
Asst. Sec., Chas. L. Barrett.—(V. 110, p. 82, 172, 472, 975.)
PACIFIC MAIL STEAMSHIP CO.—In Aug. 1919 purchased four steel
freighters for service between San Francisco and Baltimore via Panama
Canal.
V. 109, p. 893.
Also operates from San Francisco (a) to Hawaii,
Japan, China and the Philippines; (b) direct to Manila, Singapore, Calcutta
and Colombo; (c) via Central American ports to Panama, all under the
U. S. flag.
REPORT.—For year 1919, in V.
Preferred
Net
_$2,376,761
1,686.250
2,454.632
1919
1918
1917
110, p. 1184, showedr
Common
War
Dividend.
Revenue.
12 Months-
89,250
119,000
Dividends.
(60%) $900,000
(60%) 795,000
(70%) 805,000
Balance,
Taxes.
Surplus.
$600,000
$876,761
800,000
$2,000
945,255
585,377
cents per share (10%) was declared on
stock, payable July 16.
In Dec. 50 cents a share (10%) with
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%,
In June 1917 a dividend of 50
the
common
with extra of 20%.
V. 104, p. 2558, 2234.
The shareholders voted July 3 1918 to call
for redemption at 110 and dir.
Sept. 1 all the $1,700,000 7% cum. pref. stock.
See V. 107. p. 86.
stock of record Aug. 5 1918 had tha
right to subscribe pro rata at 925 a share for 70,000 new common shares,
par $5 each, paying therefor Sept. 3.
Y. 107, p. 86.
Pres.. George J. Baldwin; V.-P. & Sec., Cecil Page, 120 Broadway, N. Y,
—(V. 110, p. 1184, 1532, 2198.)
PACIFIC POWER & LIGHT CO.—ORGANIZATION.—Incorporated
In Maine on June 16 1910 and serves an extensive territory in Washington,
Oregon and Idaho.
Among the 61 communities served are Walla Walla,
on
Holders of the $1,150,000 common
„
Wash., and Astoria, Ore.,
gas
American
supply with electric light and power,
V.91, p. 1634; V. 93, p. 171; V. 96, p. 793;
which are
and street railway sendee.
The
,
Power'&
Share interests) owns
Light Co. (controlled by the Electric Bond A
all of the common and second preferred stock.
subject to redemption after due notice,
2d pref. at par and div.
The 2d pref. shares
1,000 shares or more into 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 issue in exchange. V. 91. p. 1634; V. 93, p. 1726;
STOCK.—Both pref. stocks are
the pref. at 115 and div., the
also convertible In lots of
are
V. 94. p. 70, 208.
INDUSTRIAL STOCKS AND BONDS
208
I Vol. 110.
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Mat, 1920.]
INDUSTRIAL STOCKS AND BONDS
MISCELLANEOUS
[For abbreviations, &c„
Date
first pave]
Pacific Gas $e Electric Co.—(Concluded).
Edison L & P 1st M
j
s
fd $25,000
California
Pow
Rer & ConsM $10,000,000 s
Debentures "A" ext to 1920
Rate
When
Outstanding
%
Payable
zz
1891
xxxc
ann
call
1904
1911
Livermore Water & Power 1st M not call
Oroville Lt <Sc Power Co 1st M ($50,000)
Northern
Amount
Value
MSxxxc*
Mutual Elec Lt Co 1st M call
Metrop Gas Corp
Par
Bonds
COMPANIES
see notes on
1st
USc
c
USxxc»
f callable 1915 at 110_USxxc»
mtge
gold
Collateral tr convert notes red 101
xxx
$1,000
1,000
•$623,000
•173,000
♦1,131,500
*20,500
3,500
821,000
3.964.000
386,334
10,000,000
1952
500
1902
1 000
1908
1912
1 000
1.000
1920
500 &c
6
400,000
500,000
500
500
Last Dividend
and Maturity
J
&
5
J
&
6
Places Where Interest and
Dividends
Nov 3 1921
Q-F 3
5
209
J
&
F
&
6 g
J
&
D Sept 1 1922
A Feb 1 1927
J June 11932
At office of company.
New
Sacra Val Power 1st M call 1919 at 105 sink fund
s
3*clfic 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
f'rst & Ref M $30,000,000 gold see text
Usra.xxc*&r*
fic Telep & Teleg—1st M $35,000,000
gold red 110
1909
1911
5
100
100
A Feb 1
San Francisco
7 g
M
&
N
May 11925
Chic, N Y
6
M
&
N
J
&
May 1929
1 1941
Anglo-Cal Tr Co, San Fr
6
See text
New York
See
Checks mailed
1 1948
1920
do
or
San Fran
do
text
May 1 1920 l*A
Aug 1919 1M
do
do
do
do
do
33,483,000
6.978,000
1.560,910
5 g
5
J
&
J
&
1906
1.000Ac
1,000
200 &c
5 g
M&N
J Jan 2 1932
15 May 151936
USMtg &Tr,NY;& S Fr
Nat City Bk, NY or SFr
Office, Spokane
1917
1902
1905
1,000
1,000
1.000
6,565.000
5 g
5 g
M
&
N
N Y
J
&
J Jan
<»sAnglst&RefM$5,QOO,OOOgsfd2%calfl05%1920zc*
5
J
&
J
have been closed under the terms of the
Gen.
xo*&r
Cal Tel Co
beg May 1 1922
Home
of
1st & Ref 5s $12,000,000 g
1912
(V 83, p 216)
z
and Ref.
Dividends.—On pref., 1H% quar. from Nov. 1910 to May 1 1920.
On
Id pref., 6% in 1912; from Jan. 1913 to Ang 1 1919, incl., paid 1 % % quar.
On common .not announced.
BONDS.—Of the 1st and Ref. 5s ($30,000,000 authorized issue), the un'■sued bonds
are
for Issue at
reserved
80%
of the actual cost, reasonable
worth and
replacement value of impts. and add'ns, when net 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. to Dec. 31 1925.
104 and int. during 1926; 103 and int. In 1927; 102 and int. In 1928; 101 and
tot. in 1929 to July 31 1930. V. 93, p. 536; V. 94, p. 279; V. 96, p. 793;
V. 100, p. 402.
Pref.Divs.
Surplus
fan. 311919
$1,878,311
$866,286
$507,066
(7)$188,183
$171,037
Jan. 31 1918
1,669,773
883,908
436,859
(7) 175,000
272,049
OFFICERS.—Pres.. Guy W. Talbot. Portland, Ore.; V.-Ps.. E. W.
Hill, F. G. Sykes, A. S. Grenier, 71 B'way, N. Y.; J. A. Laing and Edw.
Cookingham, Portland, Ore.
Sec. & Treas., George F. Nevins, Portland,
Ore.
Asst. Sec., E. P. Summerson; Asst. Treas., William Reiser, 71 B'way,
N. Y.
Offices, Portland, Ore., and 71 B'way, N. Y.—(V. 107, p. 507,
$381; V. 108, p. 84.)
...
PACIFIC TELEPHONE & TELEGRAPH CO.—ORGAN'N.—Incorp.
Cal.
Dec. 31
1906.
V.
84, p.
54. 163.
Stations Dec. 31 1918,
181,900.
In March 1912 purchased the Bay Cities Home Telep. Co. for
•895,000 cash, $1,300.000 Pac. Tel. & Tel. stock and $7,080,000 Home Long
Distance Telep. Co. bonds guar, by the Pacific Tel. <fc Tel. Co.
V. 95, p.
180, 1406; V. 96, p. 207, 291.
In 1917 was authorized to purchase pref.
■tock v. t. c. of U. S. 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.
As to Southern California Telephone Co., see
V. 102, p. 1441, 1631; V. 103, p. 1986; V. 106, p. 1692.
Rates and valua¬
tion case in April 1918, V. 106, p. 1800.
Rates held illegal, V. 109, p. 2270.
Stock, common, $18,000,000, all outstanding; pref., b% cum. (also prei
ss
to assets), $32,000,000 auth., outstanding $32,000,000.
American
Telep. & Teleg. Co. on Jan. 11918 owned $12,417,600 com. and $22,950,800
jref.
V. 99, p. 1533.
Pref. dlvs. paid regularly, 6% per ann. (Q.-J. 15).
BONDS.—"First and Collateral Trust" 5s of 1907 ($35,000,000, all Issued;
auth. issue, Mercantile Trust Co., San Francisco, trustee) have a sinking
fUDd beginning 1912 which will retire about 30% by maturity.
V. 88,
p. 825; V. 90. p. 854; V. 91, p. 720;
V. 92, p. 1569; V. 93, p. 349, 412;
V. 95. P. 180: V. 97, p. 954; V. 98. p. 309 391.
Southern California Telephone Co., First & Ref. Mtge. of 1917, see
V. 108. p. 486.
In
.
REPORT.—For calendar year 1917 in Y. 106. p. 2753:
Gross
Net, after
Other
Interest,
Pref. Divs.
Year—Earnings.
Taxes, &c.
Income.
Rents. Ac.
(6%).
Cal.
Surplus.
stock from $13,000,000 to $30,000,000 and the pref. from $8,000,000
New pref. to the amount of $7,500,000 was then issued,
to $20,000,000.
bringing the outstanding amount up to $15,500,000.
Oct. 28 1919 it was
voted to reduce the par value of each share of com. stock by subdivision for
$100 to $10.
V. 109, p. 1608.
Pref. stock is callable at 110 and divs. on
notice up to Aug. 30 1939; thereafter at par.
V. 108, p. 2635; V. 109, p.
77, 1614; V. 102, p. 2172, 2250.
Tne stockholders will vote May 24 1920 on authorizing the sale or disposi¬
tion of a portion of tne unissued common stock for the following purposes:
(1) For the payment of a stock dividend, which may be declared by the
directors; (2) to provide sufficient stock for the conversion of the debenture
notes which may be Issued and which may bo convertible into the common
stock.
V. 109, p. 2077, 1993.
NOTES.—The $5,000,000 3-year 5% gold notes due Oct.
on that date from the proceeds of the new pref. stock.
16 1919 were
V.109, 0. 77.
DIVIDENDS.—Pref., 7% (1 H% Q.-M.) from Dec. 1909 to Mar. 1920.
Common, 40% paid in common Stock Oct. 1913, 10% payable in com■tock Feb. 1916 and 1H% 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)4%' Oct. 31, 2^%
(quar.) and 2^% extra; Feb. 1920, 2H%. V. 109, p. 277.
red.
Years—
revenue.
Depreciation
revenue.
Pref. dividends (13%)__
Common divs., cash
1918-19.
$5,433,634
560,000
$4,873,634
1,539,245
1919, see V. 109, p. 1608:
1915-16.
1917-18.
1916-17.
$9,046,203
$9,281,332
$7,700,487
2,847,649
3,664,630
2,299,796
$5,400,691
560,000
$6,198,554
(6%)710,382(7M)910,636
(7)395,602
(60)4591.630
$5,616,702
(7)560,000
Common divs., stack
N
Y
$756,324
Balance, surplus
$3,334,389
$4,346,320 x$3,730,055
surplus
$16,992,250 $13,657,861
$9,311,541
$5,38L486
Quick assets April 30 1919 totalled $34,904,533, including cash and Govt,
•ecurities amounting toi $14,874,886.
V. 108, p. 2636.
OFFICERS —Pres., Alvan Macauley; V.-P., R. A. Alger; Sec., F. R.
Robinson; Treas:. F. L. Jandrou.
Office. Detroit.—(V. 108,jp. 274, 2635;
V. 109. p. 77. 277, 893, 1530,1608,1614,1897,1993, 2077; V. 110, p. 2198.)
PAIGE DETROIT MOTOR CAR CO.—(V. 109, p.
1467, 1530; V. 110,
83.)
PAN-AMERICAN PETROLEUM & TRANSPORT CO.—(See Map.)—
ORGANIZATION.—Organized in Delaware on Feb. 2 1916 and owns a
controlling interest in the stock of the Mexican Petroleum Co., Ltd., and vari¬
ous other securities,
representing oil holdings in California and marketing
facilities in South America.
These holdings constitute a majority int. in the
control of what the management believes to be the largest and richest arefs
of proven oil territory in the world under one ownership, embracing ap¬
proximately 600,000 acres of land and appraised at over $294,000,000 by
State Geologist of W. Va.
For statement of stockholdings in controlled
companies as of Dec. 4 1919, see V. 109, p. 2270.
May
1 1947
1 1933
and
Los
Angeles
Ang
Nat City Bank,& Ls
do
do
July 1 1945
1 911.
America, enabling it to deliver oil directly
industries
of
the
Pacific
Coast
and
or
through subsidiaries
Atlantic
Seaboard
of
both
Britain.
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 respects
stock
having the
same
rights, &c.,
the other
as
The initial block or this
com.
Class B
was offered till Dec. 22 1919, $100 per $50 share, to all stockholders
of record Nov. 25 in amounts equal to 10% of present holdings. Announced
in Jan. 1920 that stockholders had subscribed for 102,996 shares of the par
value of $5,149,800 and that 8,258 shares of the par value of $412,900 had
been taken by the underwriting syndicate.
Holders of the minority com. shares of the Mexican Petroleum Co. 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.
In
Dec. 1919 temporary certificates for $8,127,700 Class B com. stock were
on
N. Y. Stock Exch., this representing the amount
Petroleum com. stock which had assented
Mexican
Jan.
1920 the amount authorized to be listed
$13,695,400.
1920.
V.
on
N. Y.
issued in exchange
to the plan.
In
Stock Exch. was
Balance of pref. stock not converted was paid off on April 1
109, p. 1705.
com.
1919.
.
&
Apr. 1920 paid 3% in cash.
On com. B initial div. of 3% paid Jan. 10
1920; 3% paid April 10 1920.
BONDS.—First Lien Equip, bonds of 1917 were paid off April 1 1920
V. 109, p. 1705.
..
^
There
SS.
were
also
outstanding Dec. 31
^
1918 $628,000 1st M. bonds on
Spaulding.
.
REPORT.—In full for cal. year 1918 was In V. 108. p. 1076. 1270: Iftio
>1 T
101Q
\Tonv * 1
1918.
Year '17
1918.
Year *17.
Deductions—
$
$
$
$
128,806
Steamships
7,332,308 4,111,278 Bond.&misc.int- 363,954
Oil
Not shown
401,372 Bd. diet. & exp_
248.358
145,621
Income from—
_
Inc.1
and
excess
Gross
4,512,650
profits taxes
1,250,000
530,000
720,311
735,000
2,596,090 Pref. dividends.
1,247,800 Common div_.x3,117,852 1,067,160
1,232,264
Bal., surplus.
828,564 2,469,568
Total income.6,529,039 5,076,154 P. & L. surplus_5.020.596 5,010,164
income—7,332,308
Net income
3,524,075
Mex.Pet.div.rec.2,122,800
Und.prof.sub.co's 882,164
x
10% In all, one-half paid in Liberty bonds.
DIRECTORS.—E.
L. Doheny, Herbert G. Wylie, R. J. Schweppe,
Doheny, J. S.
Wood, Elisha Walker, E. R. Tinker Jr., Jacques Weinberger, Norman
Bridge, S. M. Spalding, Harold Walker, E. L. Doheny Jr.
President,
E. L. Doheny, Los Angeles.
N. Y. office, 120 Broadway.—(V. 110,
p. 567, 975.)
J. C. Anderson, Chas. E. Harwood, J. M. Danziger, C. E.
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 will acquire substantially
all the properties heretofore owned by Brown & Jones, Roy B. Jones,
Trustee, The 6666 Oil Co., The Trojan Oil Co. and Panhandle Boiler &
Machine Shop.
Will own 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.
455,000
P. &L.
21937
& Tr Co,
Americas, in addition to participating in the world-wide market for maritime
fuel.
Mexican oil matters, V. 107, p. 49. 773.
In March 1919 purchased the properties of the Doheny Pacific Petroleum
Co., located in Casmalia, Montebello and Ventura counties. Calif.
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
Pan-American company to 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 aslo to erect refineries
to handle said oil.
Has contract with the Mexican Petroleum Co. for a
minimum period of 20 years.
V. 109, p. 376, 1270.
The organizers and directors include with others Lord Pirrie, William
Weir, Sir Thomas Royden, Sir Peter McClelland, Sir James T. Currie,
J. R. Morton, E. L. Doheny, H. G. Wylie, E. L. Doheny, Jr., J. M.
Danziger, Elisha Walker, L. P. Sheldon. Sir Alexander McGuire and W. A.
White will act as alternates for the American directors residing outside Great
June 26 1919 voted to increase the auth.
REPORT.—For year to Aug. 31
the
to
for
PACKARD MOTOR CAR CO.—ORGANIZATION.—Incorp. in Mich.
Sept. 1 1909 as successor of West Virginia co. of same name.
Plant at
Detroit.
V. 103, p. 576; V. 109, p. 77.
Liberty motors, see V. 106, p.
1132; V. 107, p. 2103, 2295.
In Sept. 1918 was devoting its entire plant
capacity to war work, which includes airplane engines, war tractors and
motor trucks.
Extension to plant at cost of $1,750,000 under way in Nov.
1919.
V. 109, p. 1993; V. 107. p. 1197, 2014, 2103.
Aug. 31
J Jan
S Mtg
U
In Oct. 1919 in view of increasing business arranged for 275 miles new
pipe line, 800 new tank cars, additional vessels bringing fleet up to 46 with
total capacity of nearly 3,000,000 bbls. (including charted vessels) and an
increase of 50% in capacity of the refining plant at Tampico, Mexico
(making its capacity 75,000 bbls. daily), and at Destrehan, La., making
its daily capacity 15,000 bbls. a total of more than 32,000,000 bbls.
annually,
producing 125,000,000 gals, of gasoline and 29,000,000 bbls. of fuel oil.
V. 109, p. 1705.
In June 1918 had acquired 10,000 acres leased in Santa Maria Field; 8.000
acres
In Ventura-Newhall field; 3,500 acres leased in Montebello field:
all in California and was proposing to develop new oil fields in Central and
listed
Balance,
1917—$24,655,243 $5,018,719 $288,397 $3,065,288 $1,920,000 $321,828
1916— 21,255.479
4,621,885
223.958
2,700,046
1,920,000
225,797
—(V. 110, p. 367.)
I
on
Mtge. of
South
REPORT.—For cal. year 1917, V. 106,
p. 1898.
12 Mos. end.—
Gross.
Net.
Interest.
STOCK.—The sharelolders
Aug 1 1930
call 105
guar
Pel & Tel Co 1st M g s fd 2%
•All of these Issues
P.
J July
do
1907
-touth *rn
Net
Fran
D Dec
&
1,000
Home Long Distance Telephone Co 1st M assumed
xx
Home Tel & Tel Co Spokane 1st M ass'd s f call 105--xxc*
Gross
San
&
F
1910
beg 1922 sf
com.
or
J
1,500,000
6,100,000
7
2,750,000
Q—F
1,500,000 See text
Q—F
F
&
A
8,863,000
5g
100
...
York
5 g
6
Underlying conds outstanding as of Oct. 1919 $116,000
Guaranteed Bonds of Northern Cal, Power Co.
1st and Refunding mortgage call at 105
xx
•acific Lt & Pow Corp—See Southern Calif Edison Co below
'aclfic Mail SS Co—Common stock
Payable
At office of Co, San Fr
U S Mtge & Tr Co, N Y
Mercantile Tr Co, San Fr
D June i 1934
D Dec 1 1941
6
are
in
STOCK.—Pref. stock is callable at 110.
Convertible Into Common stock
the ratio of one share of Preferred for two shares of Common stock.
Sinking fund provides:
25% of net profits after Pref. divs
but not less
than $400,000 a year, until the Pref. is reduced to $3,000,000; thereafter,
not less than $300,000 a year until the issue has been reduced to $2,000,000
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; Apr. 1 1920, 2%.
Listed on Chicago
Stock Exchange.
See offerings in V. 109, p. 1614, 1993.
OFFICERS.—Roy B. Jones, Pres.; J. A.
Vice-Pres.; L. C. McClure, Sec.; M.
Falls, Texas.—(V. 110, p. 1296.)
sey,
Germany and Thomas MarrisA. Chambers, Treas.
Office,
Wichita
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).
Principal business is the manufacture of automobile
frames and other parts of automobiles, including brake drums, running
boards, torque arms and step hangers.
CAPITAL STOCK.—Authorized and outstanding, 150,000 shares of no
Co. and for $1,600,000 in cash to provide stock of capital,
Ear value. Issued for the exchange of $832,300operatingthe Parish & Bingam
INDUSTRIAL STOCKS AND BONDS-M "33K3j
210
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MISCELLANEU3 COMPANIES
[For abbreviations, Ac., see notes on first
Date
Par
Amount
Rate
Value
Outstanding
%
Corp—Cap stk auth $20,000,000--
Peerless Truck & Motor
Gonvertible gold notes callable at 102
Bac*
Penn Seaboard Steel—Stock 200,000 shares _ - _ _ _- - - -—Three-year S F Conv Notes $2,000,000 auth red 101)4 -xc*
(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 Co.
People's Gas Light & Coke (Chicago)—Stock (See text)—_
First Consolidated mortgage for $10,000,000 gold—Ce.o
Chicago Gas Light A 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.c* Ar
Mutual Fuel Gas first mortgage assumed
General and Ref M gold (see text)-...-...—...
IC
Bonds Guaranteed—
Indiana Natural Gas A Oil Ref Mtge closed gold gu p & LCe
Ogden Gas first mortgage $6,000,000 guar prin & lnt
F
Pettlbone Mulliken Co—Common stock, $7,000,000
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
Payable
See text
$10
See text
$46,247,400
See text
50
See text
new
1.000
None
See text
100
none
50
1915
1925
100
100
Mar 31 '20
Q—Mi
6,000,000
5 g
100
100
Central Tr
do
I'
7,000.000
862,100 7 In 1919
379,800 7 in 1919
45,000,000 See text
Co, N Y
Gent Tr, N Y; A Chicago
do
do
Is
Illinois
N Y; A Chi
do
Tr &
S
B, Ohio
Cent Union Tr Co, N Y
Farmers L A Tr Co. N I
Apr 1 '20,1)*% Checks mailed
do
do
Apr 1 '20,1 % %
Apr 2*20. 2)4% Office 99 John St, N
Q—J
Q—J
Q—J
Y
PENNSYLVANIA COAL & COKE CO.—(V. 110, p. 1998, 2198.)
In
1919.
Y
Co.'s office, Chicago
Cent Union Tr
MAN May 11945
100
Trust Go. N
1 %
1,000
PENNSYLVANIA STEEL CO.—See Bethlehem Steel Corp. above.
PENNSYLVANIA WATER & POWER CO.—(V. 110, p. 557, 1094.)
for
MILLS CORP.—V. 109, p.:il84, 1372,
initial dividend
dividend of )4 of 1 %, both payable Jan. 2 1920.
DIVIDENDS.—The directors on Oct. 2 1919 declared an
V. 109, p. 1466.
Bankers
Feb 1 1923
1900
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
permit.
A
MAN May 11936
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 218 of pref.)
of the Peerless Motor Car Co. of Cleveland, O.
Authorized stock, all one
class, $20,000,000 (par $50); outstanding, $10,000,000.
No bonds. Cleve¬
land interests in 1919 have purchased control and moved the office to that
city.
Directors, see below
1
will
10 Nov 10 1926
SH
J.
an extra
7
&
6,000,000
100
do
Q—F
F
7 g
1,000
Wainwright Jr., Chairman; James Scott, Pres.;
Agnes D. Morse, V.-P. & Treas.; James N. Cooke, V.-P.; H. C. Royal, Sec.
Directors.—S. J. Wainwright Jr., James Scott, James N. Cooke, Pitts¬
burgh; James A. Fayne, N. Y.; Nathan A. Middleton, Boston; James F.
McLaughlin, North Redgerville, O.; Agnes D. Morse, Cleveland.
Main
office, 27 Cedar St., New York.—(V. 109, p. 2362.)
also
MAN
6 g
Text
1913
profit, $653,834; other income, $10,612; deductions, $59,526; provision
Federal taxes, $200,000; dividends, $208,075; surplus, $196,846.
of 1)4% and
Text
1906
1887
1886
1897
1897
and 25 cents extra; April 1920, $1,
PATCHOGUE-PLYMOUTH
2177.)
Detroit
See text
38,500,000 3)4 In *17
Q—F
A
&
O Apr 1 1943
4,900,000
I*
J
A
J July 1 1937
9,931.000
f g
J
&
D Deo 11936
4,246,000
MAS Sept 1 1947
20.554,000
MAN Nov 11947
5.000,000
J
&
D Dec 1 1963
1,712,000
EARNINGS.—7 months ended July 311919: Sales, $4,277,073; operating
OFFICERS.—S.
See text
Mari 15 '20 1H
Apr 10 1920 3%
Apr 10 1920 3%
Apr 1 1920 1%
1,000
1,000
1,000
1,000
1,000
1,000
1893
Places Where Interest and
Dividends are Payable
Q—J ■. Apr 1 1920, 2% Columbia Trust Co, N Y
Q—J 20 Apr 20 1920 $1
July 1 '20 2)4
8
1,500,000
1,581,000
3,000,000
1,000
*
7
1,082,000
180.000
4,000,000
150,000 sh.
10.000,000
2.735,450
100
None
■
Q—F
Q—M
Q-J 10
Q-J 10
Q-J
11^%19
50
100
DIVIDENDS.—An initial div. of 75 cents was paid in Oct.
1920 paid 75 cents
Last Dividend
and Maturity
When
Bonds
page]
Packard Motor Car Co—Common stock $30,000,000 auth..
i'ref stock 7% cum $20,000,000 callable 110 & div
—
Pan-Amer Petrol & Transport—Com stk $55.000,000
Class B non-voting com stock $70,000,000
—
7% conv pref to be redeemed Apr. 1 1920 at 115 and divs
Panhandle Producing & Refining—Com stock 300,000 sh.
Pref (a & d) cumul convertible (s.f) $4,000,000 call 110 —
Parish & Bingham Corp—Stockauth 150,000shar<»
Jan.
211
INDUSTRIAL STOCKS AND BONDS
Mat, 1920.]
In Apr. 1920, paid 1)4% and )4% extra.
July 1920, 2)4%.
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
and subject to call on and after May 10 1917 at 102
days' notice in amounts of not less than $1,000,000
onlany int. date; conversion privilege continuing until 20 days before redemp¬
tion sale.
See offering, V. 102, p. 716.
Of the $5,000,000 6% notes of
1915, $2,264,550 have been reacquired and deposited with trustee, thus
leaving a balance of $2,735,450 in hands of the public.
V. 108, p. 978.
•at par after one year
and interest upon 60
PEOPLE'S GAS LIGHT & COKE CO., CHICAGO).—A consolidation
Aug.
on
2
1897 of the companies forming the old Chicago Gas Trust.
V. 64, p. 1088; V. 65, p. 235.
In Feb. 1907 the Ogden Gas Co. and the
Universal Gas Co. were leased lor about 34 years, the Ogden Co's $6,000,000
V. 84. p. 394: V. 78. p. 1785: V. 72, p. 244, 91;
the construction of the coal gas plant, costing
$7,000,000. which will enable the company to manufacture gas more
cheaply than from oil was deferred.
V. 108, p. 680; V. 104 p. 658, 2348;
V. 106, p. 704, 1905; V. 110, p. 654.
During 1919 completed the erection
bonds being guaranteed.
V. 97, p. 1508. In 1918
about
of
a
ten-million foot gas holder, increasing
20%.
PROPERTY.—In
Dec.
service
31
the gas storage capacity about
1919:
Street mains,
3,102 miles;
meters, 701,211; public lamps, 6.006; arc lamps, 96,985.
For rates prior to 1919 sea Nov. 1919 supplement.
The Illinois P. U. Commission on July 25 1919 fixed new rates which
1 1919 and were to continue until April 1 1920, as
(a) For the first 350 cu. ft., 35 cts.; (b) to 10,000 cu. ft., per 1,000,
(c) for consumption over 10,000 cu. ft. and less than 50,000 cu. ft.
per 1,000, 80 cts.; (<f) over 50,000 cu. ft., per 1,000, 65 cts.
The Commis¬
sion granted the company permission to continue these rates until
Dec.
1920.
The company has asked permission to increase rates from 85 cts. to
$1 25 per 1,000 cu. ft. on June 1 to all domestic consumers up to 10,000
cu. ft.
V. 108, p. 1170, 1394, 2129, 2533; V. 109, p. 179, 483; V. 110,
p. 654,1856.
*
Valuations of property, V. 107, p. 297; V. 110, p. 654.
Tax ruling, V.
107, p. 2482.
Refund suit, V. 110, p. 654.
became effective Aug.
follows:
85 cts.;
f'95. '96. '97-'05. *06. '07. *08. *09.
DIVS.
Per;oentl2H
1H
6 y'ly
5)
6
6
'10-T2. '13. T4-T5. *16.
6'A 7 y'ly
7H 8 y'ly
6)4
1917.
3)4
1916 the dividend was reduced from 2% quar. to 1)4% 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. 105.
p. 1527: V. 104, p. 1596, 658.
In May
BONDS, AO.—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,
are
REPORT.—For calendar year 1919:
1917.
1916.
xNet sales
$12,928,601 $11,890,079 $18,924,452 $13,525,024
Net inc. (incl.int.earned) $1,136,783
$1,074,604 $1,672,670 $2,347,438
Int.
on
6% secured con¬
207,733
229,113
71,596
365,423
301,946
122,403
vertible notes, Ac
Federal
¥■'
1918.
1919.
Consol. Income Acct.—
306,799
profit,
excess
&c., taxes (est.)
Net loss contracts, Gen.
116,387
550,637
75,020
$947,537
$1,356,356
Vehicle Co., Inc
Spec. res. for cont.,|&c__
Netprofit
$806,647
$773,895
x Excluding munitions,
&c., contracts.
_
George W. York, L. H.
G. B. Siddall, W. H. Staring, B. G.
Terry and Harrison Williams.
Pres.,
877.)
DIRECTORS—Walter C. Baker, T. W. Freeh,
Kittredge, Roland T. Meacham,
Tremaine, H. A. Tremaine, F. S.
is B. G.
Tremaine.—(V. 110, p.
PENN-MEX FUEL CO.—(V. 108, p.
386; V. 110, p. 1856,1978.)
PENN
SEABOARD
STEEL CORP.—ORGANIZATION.—Incorp.
Dec. 6 1915 in New York, as Penn. Marine & Ordinance Castings Co.
Name
changed to present title June 24 1916.
Merged Penn. Steel Castings
Baldt Steel Co. and Seaboard Steel Castings Co.
V. 102,
Plants located at Chester, Pa., and New Castle, Del.
Feb. 1920 the stockholders authorized the purchase of the entire
& Machine Co.,
p.
1631.
In
capital stock of the Tacony Steel Co. (V. 109, p. 484; V. 110, p. 567, 472,
367).
Including the plant of the latter company, the corporation will con¬
trol 14,000 tons monthly open-hearth capacity.
Manufactures and sells
steel plates, castings and ingots.
V. 107, p. 2373.
STOCK.—Auth. amount increased from 200,000 shares to 250,000 shares
in Feb. 1920.
Outstanding, 173,311
The stock is held in a voting trust
(no par value)
11,000 shares.
June 26 1921, the voting trustees
William O.
shares; in treasury,
agreement expiring
being Walter S. Bickley, Rodney Thayer,
Sproul, Howard F. Hansell, Jr., and Harvey
D. Gibson.
NOTES.—The $1,500,000 3-yr. 7% nqtes sold in Feb. 1920 are convert¬
as follows:
Each $1,000 note into 25>shares of common stock until
ible
Feb. 1 1921, into 22 shares
thereafter until maturity.
thereafter until Feb. 1 1922, and into 20 shares
Sinking fund, &c., compare V. 110, p. 665.
DIVIDENDS (Per Share).—May
1918, incl., $1 quarterly; Aug. 1 and
each; none since.
V. 108, p. 2349.
1 1916, $1 25 Aug. 1 1916 to May 1
Nov. 1 1918 and Feb. 1 1919, $1 50
■
.
^
Gross
Net after
Sales.
Taxes, &c. Dividends.
$4,015,877 $157,492
$9,744,205 $457,662 ($5)1381,300
10,544,497 1,045.021
(4) 240,000
,
Balance,
Surplus.
1919
$157,492
1918
$76,362
1917
805,021
OFFICERS.—Rodney Thayer, Chairman; J. B. Warren, Pres.; George
Satterthwaite, V.-Pres., and C. F. Jemison, Sec. & Treas.—(V. 110, p.
Calendar Years—
-
76, 770, 1419.)
(J.
C.)
PENNEY CO.—ORGANIZATION.—Incorp. in Utah,
1913-
started in 1902.
Operates 297 department stores in 25 States.
inception has re-invested a substantial portion of its earnings in
business.
Business on a cash basis.—V. 109, p. 483.
Business
Since its
the
STOCK.—Pref. stock redeemable at
t otal amount of
105.
Annual sinking fund 5% of
PrefJ. stock outstanding 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 div. 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, 1%%.
V. 109,
1185.
1919.
1918.
1917.
$28,783,965 $21,336,000 $14,880,000
p.
Sales
1916.
$8,415,000
1,074,827
1,064,751
1,305,359
847,822
5,591
Preferred dividends
*
72,917
526,600
664,200
408,760
Balance, surplus
1,804,775
169,154
236,266
660,477
Chairman, J. C. Penney; Pres., E. C. Sams; V.-P. & Compt., Geo. H.
Bushnell; V.-P. & Gen. Mgr., C. E. Dimmitt; V.rP., D. H. Mudd; Sec.,
L. A. Bahner; Treas,, J. I. Herbert.—(\
110, p. 770, 1181. 1193, 1648,
Net profits
Reserve for Federal taxes
2,942,444
2,001,113
.
2198.)
1,748,288
p.
1555;
V. 91. p. 792. 876;
V. 94. p. 702; V. 97, p. 954; V. 98. p. 842.
Guarantees, p. & I., Ind. Nat. Gas A Oil Ref. 5s.
V.8 4, p. 388, 1430;
V. 88. p. 1317, 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, Ac.;
$1,712,000 Issued to Dec. 31 1916.
V. 97. p. 954. 1119, 1508, 1738; V. 98,
p. 76.
Proposes eventually to issue an additional $250,000 to replace Calu¬
paid on on July 1 1917.
V. 104, p. 2239.
In June 1918
met Gas Co. bonds
was
proposing to issue $1,500,000 Gen Ref. 5s on account of
V. 106. p. 2762.
improvements
made between Jan. 1914 and April 1916.
By-Products Coke Co. bonds, V. 110, p. 873 .
payable aggregated $4,895,571; taxes accrued,
$1,061,482.
V. 106, p. 2233.
REPORT.—For year ending Dec. 31 1919, in V. 110, p. 654:
Years end. Dec. 31—
1919.
1918.
1917.
1916.
Gross income
$24,543,798 $21,588,401 $19,338,638 $17,084,878
Net earnings...
4,290,442
2,654,081
3,471,900
5,746,010
Interest on bonds
2,366,150
2,366,150
2,375,150
2,387,063
Depreciation
1,859,085
1,654,559
1,461,951
1,281,689
Balance
sur.$65,207df$l,366,629def.$365,201sr$2,077,258
Dividends
None
None
(3)4)1347477(6)4)2502147
OFFICERS.—Samuel Insull, Chairman & Pres.; Cnas. A. Munroe, V.-P.;
Joint guaranty of Chicago
On Dec. 31 1918 accounts
Purcell, Sec.; J. E. Dougherty, Treas.
DIRECTORS.—Samuel Insull, Jas. A. Patten, J.J.
T. V.
Field, John Williamson.
p.
Mitchell, Stanley
Office, Chicago.—V. 109, p. 179, 483; V. 110,
654, 877, 975, 1856.)
PETTI BONE
MULLIKEN
in New York June 21
from
heart
rails,
&c.,
CO.—ORGANIZATION.—Incorporated
1912.
Has plant on 32 acres of land about 6 miles
Manufactures frogs, crossings, switches, guard
of Chicago.
for
steam
railroads.
V.
94,
p.
1511.
No bonds.
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 1920, $1,387,900; 2d pref.
stock, $75Q,000, of which $370,200 was in treasury Dec. 31 1919.
DIVIDENDS.—On 1st and 2d pref., 1H % quar., Oct. 1912 to Apr.1920.
STOCK.—As to pref. stock
REPORT.—Report for cal. year 1919 in V. 110, p. 665, showed:
Net Inc.
1st Pref.Div. 2d Pref.Div. Sk.fd.,Ac.Fed.Tax. Surplus.
Year—
1919
$283,077
(7)$65,126 (7)$26,586
1918
928,393 (7)
70,000 (7) 33,127
1917
1.682,354 (7) 112,072 (7) 50.890
OFFICERS.—A. H. Mulliken, Pres.; C. H.
H. R. Prest, Sec.;
$91,643
$25,814
428,712
256,688
450,934
440,000
$73,908
139,868
628,458
Eib, E. N. Strom, V.-Pres.;
688; V. 110, p. 665,
A. II. Mulliken, Treas.—(V. 108, p.
1087 )
PHELPS, DODOE CORP.—ORGANIZATION.—Incorporated in New
Aug. 10 1885 as the Copper Queen consol. Mining Co. and from
April 1917 acted as the leading operating subsidiary of Phelps,
Dodge A Co. (a holding company.)
Incorporated in New York State on
Dec. 11 1908 per plan V. 87. D. 1536; V. 4k, p. 149; V. 89
p. 1645.
In
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 stock; and Bunker Hill Mines Co., $750,000 stock.
York
Dec. 1908 to
DIVIDENDS.—Until Mar. 30 1917 of Phelps, Dodge & Co.(holding co.)
1909-11. *12. *13. '14. *15. '16. '17. '18.
*19.
1920.
Regular, %
Extra
%-!
10% yly 10
2% yly
5
10
6)4
10
4
10
10 10 7)4y
10 22)4 14 10)4
10
3)4
See
text
depletion.
__
—
__
8
4x
2x
In 1920. Jan..2)4%; Apr., 2)4%.
y Only three quarterly dividends.
x 2% payable in 4 X % Liberty bonds.
2)4% each, due to change in dividend period from Q.-M. 31 to Q.-J. 2.
1170.
—V. 108, p. —
Account
Rate
MISCELLANEOUS COMPANIES
Date
Par
Amount
I For abbreviations, &c., see notes on first pact)
bonds
Value
Philadelphia Electric (of Pa.)—Stock full paid 125 per sb (text)
First mtg $60,000,00015 % call 110 from Oct 1 *21 kxxc*&r*
sk fd $212,000 y'rly J4%call 105 from Oct 1 '21 kxxcMcr*
Secured notes $15,000,000 g call 101 till Feb 1921, then
100H
GP.xxxkc*
Delaware Co El Co (sub co) 1st M closed s fd call 105
c*
Plerce-Arrow Motor Car Corporation—Common
°
Pref (a A d) 8% cum $10,000,000 s f call 125 convertible.
Pierce Oil Corporation—Common stock ($33,000,000;
Common stock Class B non-voting $20,000,000
Pf (a&d) stk 8% cum conv into CI B com, $ for $, 15mil call
Two-year gold notes
Pierce Pipe Line Co (sub co) 1st (closed) M notes endorsed
due $250,000 s a gold
—xxxEqc
1910
1910
1920
500 Ac
1909
25
-
REPORT.—For cal. year 1919, in V. 110, p.
1919.
Total gross income
Netincome
Depreciation, buildings and plants
State and Government taxes
Dividends
paid
1,000
1920 to not
__
1522, showed:
1917.
1918.
$28,366,438 $59,483,208 $62,262,186
8,121,781
22,712,898
29,411,933
1,109,087
903,630
1,097,432
—
__
PHILADELPHIA CO.—See Pittsburgh, in "Electric Ry " Section
ELECTRIC CO.—ORGANIZATION.—Incorp. In
all electric-light properties of Phila., also in
West 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.
Has long lease of
conduit space from Keystone Telephone Co. at a graduated rentaJrising 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, 012; V. 108, p. 586.
New plant in 1917 cost $5,000,000. V. 105, p. 1527, 2004; V. 106, p. 1683.
The capacity of entire system is 266,826 k.w.
■
■
STOCK.—Authorized
$50,000,000.
The final installment of $2 50
per share was called and baid 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 $21,475, has been exchanged for stock
of the Phila. 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, payment to be made 50% each Jan. 15 1919 and March 15
1919, increasing the capital stock outstanding to $29,985,300.
The pro¬
ceeds ($4,997,550) to be used to finish certain construction work for the
distributing ssytem in Philadelphia, and the completion of the new station
at Chester with a present installation of two 30,000 k. w. units, both of
which are nowoperating; liquidate outstanding bank loans; and provide
additional working capital.
See V. 107, p. 2103.
DIVIDENDS—
i 'U2-07. '08. '09 to 'l2 13. '14. '10. '10. '17-19. *20.
On amounts paid lni5y'ly.
5)4 6 y'rly
6H '14toMar'20,7yrly 3H
Also extra paid In stk
$1
$150
$160..
In 1920: March,
1H%\ June, 1 %%.
BONDS.—The 1st M. bonds of 1916 (see V. 104, p. 565) were to cover
PHILADELPHIA
Owns
or
controls
,
...
entire
property
__
....
(and all after-acquired property except stocks and
securities) then embracing all the public electric light and power plants in
Philadelphia.
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 the cash cost and fair value
of acquisitions, permanent additions, extensions^ Ac., and then only when
the net earnings are
times the interest charges on all bonds Issued and
to be issued.
Sinking fund of $212,000 yearly plus accumulations.
Notes
payable Dec. 31 1919, $1,440,000.
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 the
retirement of the $7,500,000 notes due Feb. 1 1920, and the balance to
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. 1 1921 at 100)4 and int.
Secured by pledge of $5,500,CC0 lstMtge.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 Delaw are Co. El. Co.
REPORT.—For 1919,'V. 110, p. 1745:
Cal. Yr. '19. Cal. Yr. '18. Cal.Yr: 17. Cal. Yr. '16.
Gross income, all cos_.-$16,279,239 $14,503,851 $12,160,769 $10,260,072
Net, after taxes, &c
$5,844,064
$4,628,209
$4,455,553
$4,775,097
Fixed charges, &c
3,205,026
2,595,815
2,437,359
1,981,046
Dividends (7%)
1,932,110
1,749,192
1,749,189
1,574,313
Surplus
$706,927
$283,202
$269,005
$1,219,738
Pres., Joseph B. McCall; V.-P., W. H. Johnson; Sec. & Asst. Treas.,
A. V. R. Coe; Treas., H. C. Lucas.
Office, 1CC0 Chestnut St., Fhila., Pa.
—(Y. 110, p. 1643, 1745.)
PHILLIPS-JONES CORPORATION.—(V. 109, p. 780; V.
PHILLIPS
llO.p.1296.)
PETROLEUM
CO.—ORGANIZATION.—Incorp. in July
Land owned amounts to
105,000 acres, located in Karsas, Oklahoma, Texas, Kentucky ard La.
CAPITALIZATION.—Authorized 1,000,000 shares, no par value, out¬
standing 511,000 shares.
The authorized amount of stock was increased
in Jan. 1920 frem 400,000 shares to 1,000,000 shares.
Stockholders of
1919 in Delaware.
Owns 584 producing wells.
record F(b. 2 1920 received a stock distribution of one share for each share
held.
in
p.
of record Apr. 30 1920 were given the right to sub¬
128,000 shares of stcck at $26 25 a share.
V. 110, p. 1648.
Stockholders
scribe
to
No bonds.
The
pref. stock was redeemed, Sept. 1 1919.
Repcrt for 1919
V. 110, p. 1094.
Pres., Frank Phillips, BartKsville, Gkla.—(V. 110,
367, 975. 1094, 1754, 2198.)
(1 HE) PIERCE-ARROW MOTOR CAR CO.l- ORGANIZATION.—
Incorp. Dec. 2 1916 in N. Y. State as successor of the original ccmpaDj of
name.
Modern plant at Buffalo covers 43 acres.
similar
STOCK.— Common stock. autb. and Issued, 250,000 shares, no par value.
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,
.
p. 957, 2645. Pref. as
Sinking fund for purchase (or call at 125 and dlvs.) of
pref. stoek will receive cash equal to whatever is paid in any year in cash
dividends on the common stock over $5 per share.
Pref. stock so retired
to assets and dlvs.
or
otherwise redeemed will be converted Into
were
called for payment Feb. 1 1917.
common
stock.
All the bonds
"War contracts canceled.
V. 108, p.
F
6 g
J & J
Common
V. 109,
p.
78.
A Feb
2%
1 1920
15 Jan-July15 1920 New York
Balance,
1918.
1919.
$2,326,552
1,094,685
$1,221,493
$946,438
504,228
378,554
($1.25)312,500
200,000
200,000
dividends.
surplus
$517,265
312,500
200,000
$719,367
$55,385
REPORT.—For calendar year 1919, in V. 110, p. 1411:
Calendar Years—
1919.
1918.
1917.
Net
Balance
1916.
$4,791,274
1,161,802
$4,076,167
$3,073,172
$3,629,472
15,601
11,858
323,032
42,582
800,000
800,000
dividends..($1J4)312,500($5) 1562,500 ($2)^)625000
$4,076,167
63,842
69,750
earnings
*$3,161,122
600,000
Federal taxs
$4,273,172
1,200,000
$2,561,122
26,144
96,196
Preferred dividends (8%)
800.000
Other income
Interest
Common
Balance, surplus
$1,378,570
$403,241
$2,173,748
$4,070,259
OFFICERS/—Charles Clifton, Chairman; John C. Jay Jr., Pres.; G. W.
Mixter, V.-Pres.; W. J. Foss, V.-Pres.; M. E. Forbes, Treas.; E. C. Pearson,
Sec.
Directors.—Charles Clifton, John C. Jay Jr., G. W. Mixter, W. J. Foss,
Joseph G. Dudley, William P. Phillips, Frederick Strauss, C. J. Schmidlapp.
—(V. 110, p. 1296, 1411, 1856.)
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.
(b) 129,000 acres of oil lands,
principally held under lease, partly owned In fee, in Okla., Tex., Ark., ana
Tampico, Mex., including holdings in the Gushing and Morris fields in
Okla.
(c) Three tank steamers, floating equipment and 1.600 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.
V. 101,
&2077; V. 105, p. 2461; V. 106, p. 196; V. 107, p. 611. Extensions proposed
1918, V. 106, p. 2762J
In May 1918,
having obtained authority to operate in Texas, took title
properties of the Pierce-Fordyce Co.
V. 106, p. 196, 1905, 2014.
to the
common stock is $33,000,000, par $25 a share,
(reduced from $100 in 1914 by subdivision, V. 99, p. 53 203 987).
Out¬
standing Apr. 1920, $22,728,450.
Directors in May 1920 declared a stock
div. of 5% payable in com. stock,
% on July 1 and 2H % on Oct. 1 1920.
The stockholders on July 25 1919 voted that the maximum capital stock
be increased from an authorized $33,000,000, all common stock, par value
$25, to $68,000,000, divided into (a) $15,000,000 8% cum. conv. pref. stock
par $100; (b) $33,000,000 common 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 ($9,297,000 June 30 1919) as might not be exchanged for pref.
STOCK.—The authorized
,
.
,
stock or converted into com. stock; (b) to pay off on Dec, 31 1919 such
of the 5-year 6% convertible gold notes ($1,500,000) June 30 1919 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 liquida¬
other corporate purposes.
convertible at any time on or before Jan. 1 1923 Into an
of Claas 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
fund 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
dividends remain unpaid thereon.
The consent or 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.
tion
of current bank loans and
The pref. stock is
equal
par amount
OBLIGATIONS.—The 10-year 6% debentures, originally $10,000,000,
called for redemption and paid off at 105 on Jan. 1 1920, in so far
were
converted
not
as
into
common
stock,
$ for $. prior to
The
that date.
right to convert into pref. stock expired Sept. 22 1919.
V. 109, p. 584.
The $2,000,000 5-year 6% gold notes of 1915, convertible at any time into
common stock at $20 (or 80%, par $25 a share), prior to
redemption, have
been called for payment on Dec. 31 1919, if not converted.
V. 109, p. 1467.
The Pierce Pipe Line Co. in Aug. 1918 sold $1,000,000 1st Mtge.
due $250,000 semi-annually, beginning Jan. 15 1919, bearing
6%
the
which owns the entire $1,000,000
capital stock; $500,000 paid off.
V. 107, p. 611.
Balance sheet June 30 1919 showed outstanding (V. 109, p. 1467) mis¬
cellaneous securities as follows: (ai Car trusts, $571,080. due $258,432 in
1919 and $312,648 in 1920
(&) pipe line construction 6% loan, renewed
June 15 1918 and maturing $250,000 semi-annually July 15 1919 to July 15
1920, both inclusive, $750,000; (c) mortgage on motor tank ship, $500,000
(d) notes payable, $2,535,600; (e) two-year gold notes, $114,600; (f) 10-year
debentures, $9,297,300; (g) convertible gold notes, $1,500,009;
These last
two items, so far as not converted into common, have been called and will
be paid off by Jan. 1 1920 out of the proceeds of the pref. stock issue.
notes
endorsement of the Pierce Oil Corporation,
DIVIDENDS.—On
and April
V.
preferred stock, 2% each in
Oct.
1919 and
Jan.
1920.
The directors, in
able in Com. stock
May 1920 declared a stock div. on the Com. stock pay¬
as follows: 2M% on July 1 and 2H% on Oct. 1 1920.
110, p. 2198.
REPORT.—Combined results for calendar years.
Calendar Years—
,
Gross
Total income
charges
s.
Preferred dividends
Balance, surplus
V. 110,
1919.
p.
1978.
1918.
.$10,263,464 $10,102,841
profits
Profit and loss charges
since to May 1920.
text
1 1920
Preferred dividends (2%)
Income
sr.; rone
do
Girard Tr Co, Phila
EARNINGS.—For 3 months ending Mar. 31:
1920.
DIVIDENDS.—At rate of 8% per annum (2% Q.-J.) on pref. 6tock,
Jan. 2 1917 to Apr. 1 1920, incl.
On cctriron Aug 1917 to May 1919, both
cJ.,l5l|25[c\
&
6 g
386.
r
Philadelphia
text
Apr
Q—J
Operating profits
Federal taxes, interest, &c_.
(10)4,500,000 (24)10800000(24) 10800000
Balance, surplus for year._-__.___aef.l,285,656
5,145,683
11,656,906
The total surplus Dec. 31 1919 was $123,794,061.
As to allied railway see El Paso & S. W. under "Railroads."
OFFICERS, Ac.—Pres., Walter Douglas; V.-Ps., Cleveland H. Dodge,
Arthur Curtiss James, James McLean; Sec. A Treas., George Notman.
Directors.—Cleveland H. Dodge, Arthur Curtiss James, Mathew C.
Fleming, George B. Agnew, E. Hayward Ferry, Francis L. Hine, Walter
Douglas.
Wm. Church Osborn, George Notman.
N. Y. office, 99 John
St.—(V. 110, p. 975, 1522, 1978.)
Payable
Phila Tr & Safe Dep Co
A° A Aug 1 1939
Mayl '19, $1.25 Check mailed
do
Apr 1 1920 2%
Q—J
See
8
are
Checks mailed
1 1922
See
500.000
5,857,595
5,863,585
Dividends
$11,056,550
ov er
1919.
8,262,176
37,659,909
F
A Feb
Fee text
15,000,000
114.800
1918
1918
?g
5 g
&
F
See text
25
1920.
7,798,000
__
4 months
12,500,000
300,000
100
31,276,500
Copper Output (In Lbs.)—
April.
cover
and Maturity
1.000
None
250.000 shs
100
10,000,000
b Subject to increase by conversion of notes, &c., up to Jan. 1
Places Where Interest and
Last Dividend
Payable
June 15 *2015*
$25 $29,618,325 See text
0—M
1 1966
A
A
O Oct
100 &c
36 603,300
A
A
O Oct 1 1966
100 Ac
4 g
1,071.700
....
the
When
%
Outstanding
Penna.
[Vol. 110.
INDUSTRIAL STOCKS AND BONDS
212
.................
5,360,763
583,181
2,025,698
600,000
6,074,825
2,151,884
2,894.488
621,539
2,558,798
Date
Pittsburgh 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 v guar red 102 HsI
UPi.xc"
Mon River Cons Coal Sc Coke 1st M g s f (see text) _UPi.sc*
Midland Coal purchase 1st M $1,200,000 g red 102 H-UPixc
Debentures $0,350,000 g auth redeemable par-x
Equipment Trusts of 1913
Par
Amount
Rate
When
Last
Dividend
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on first page]
Value
Outstanding
%
Payable
and
Places Where Interest and
Maturity
$100 a32,169,200 5 In 1918
6
100 a36.000.000
$678,000
5ae
6 g
5.212.000
5 g
581,000
1,000
1,000
1,000
1910
1899
1912
500
1911
,
3.834.0)0
&c
Dividends
Payable
are
Q-J 25 Apr 24'20 IH% By check
do
Apr 24'20 1H%
(Quar)
J
&
J Jan
&
O Oct
1 1949
M
&
Union Trust Co, Plttsb
Union Trust Co.PIttsb'h
1 1935
A
N May
S July
M
&
A
15 1932
1 1931
O Apr 1 1923
&
1913
917,361
s5g
1913
961,000
5
A
&
5
J
&
$40,000 yrly Jan
F
&
A Feb
F
&
A
A
&
O Apr
do
do
Apr 1923-38
140,000
do
do
Montour RR
213
INDUSTRIAL STOCKS AND BONDS
mat, 19.0.]
equipment trust Series A guar
Union Trust Co of Plttsb
Bonds
of Subsidiary Companies.
Montour RR red 105 begin 1924
——
Pitts & Cas Shan Ry, due $10,000 yly. *19-'22
Pitts Coal Dock Sc Wh 1st M guar a&d red, 102H
Pittsburgh Steel—Common stock
... —_
Pref (a & d) 7% cum $10,500,000 red 120 (V. 96, p.65).
Portland (Ore) Gas & Coke Co—Pf (a & d) stk 7% cum redll5
First & Ret M $15,000,000 call 110 aft 1919—xxxc'USm
Gas
Portland
O*
M
1st
Porto Rican-Anperlcsn
100
1910
1901
1918
beg June 1921
Various
100
100
Prairie Pipe Line Co—Stock (no bonds)
a
Excluding $4,000,000 pref. and $7,830,800 com. stock
in
treasur y Dec.
DIRECTORS (Pierce Oil Corp.)—H. Clay Pierce (Chairman <fc Pres.),
Clay Arthur Pierce (V.-Pres.), Eben Richards (V.-P.), J. N. Gailbraith
(V.-P.), W. L. Wagner (Treas.), F. Lewisohn, Eugene W. Stetson, John
J. Watson.
Sec. is H. R. Waterbury.
N. Y. office, 25 Broad St.—
f\T
11 n
1Q7R
n
OfJ79
COAL
CO.
S.ontract with 1903; V. 106, p. 1339; 105, p. 1003;removed,p. 1338. p. 1420.
825, 1808, U. S. Steel Corp., V. restrictions V. 106, V. 110,
8TOCK.—The pref. stock Is entitled: (a) To cumulative dividends at
6% payable quarterly with Interest at 5% on any accumulations;
(b) To participate equally with the common shares in any year in which
each stock has received 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 of
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 of the outstanding pref. shares
rate of
DIVIDENDS.—On
pref. stock of old Pitts. Coal Co. of N. J.. 1900 to
Apr. 1905, 7% yrly.; '06 to '09, none; '10. 5%; '11 to Apr. 25 1919, 5%
p. a. (1 y±% 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. 1920, quarterly, 1H% 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 April 1920, 1 H% quar.
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
V. 90, p. 1494.
Pitts. Coal Dock Sc Wharf Co. property at Duluth, Minn..
V. 94. p. 1052; V. 96. p. 861; V. 89, p. 1284.
Pittsburgh Coal Co. of Penn. (Midland Coal Co. purchase) 5s have a
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 1M-Inch. coal mined, and shipped, which retires bonds an¬
nually about Dec. 1 if purchasable at a reasonable price.
REPORT.—For calendar year 1919, in V. 110, p. 1183, showing:
Consolidated Results for Cal. Years—
1919.
1918.
1917.
Coal production (tons)-13,630,798
17,073,283
17,989,215
$60,000 yearly.
First M.
on
$3,500,000.
Gross receipts
Net profits
Depletion of coal lands, &c_
Depreciation of plant and equipmentPlant, &c., written off
Other
reserves
Common dividends
Federal
taxes
$37,303,131 $49,608,827 $50,025,017
8,620,057
14,215,898
21,328,381
1,325,044
1,604,559
1,629,161
1,168,009
1,533,030
1,821,280
10,663
46,860
1,798,67,3
518,497
1,128,887
1,060,159
1,038,128
Interest paid and accrued
Preferred dividends
-
895,708
2,160,000
1,608,460
1.839,470
4,005,000
—
Checks
mailed
F
N Y, U S Mort & Tr Go
A Aug 1 1951
June 3 '20 3 sc
&
Q—M
text
6
s-ann
for estimated income and war profits taxes.
In 1917-18 the
and $2,730,122, and In 1916-17 $963,-
Total profit and
loss surplus, June 30 1919, $13,484,907; Liberty Loan
total current assets, inch inventories,
$15,547,640; current liabilities, $3,401,379.
Pres., John Bindley; 1st V.-P., Emll Winter; V.-P. &
nett; Sec., C. E. Beeson.—(V. 110, p. 567, 1856, 2082)
„
„
Treas., D. P. Ben¬
POND CREEK COAL CO.—Stock listed in N. Y
Stock Exchange In
Aug. 1917.
See V. 105. p. 613, 503: V. 107. p. 2381; V. 108, p. 386, 1279.
1515^ V. 109, p.
1898; V. 110,
1532.)
p.
PORT LOBOS PETROLEUM CORP.—(V. 109, p.
1279.)
PORTLAND (ORE.) GAS & COKE CO.—Incorporated Jan. 10 1910
V. 105. p. 1715; V. 99, p. 1678.
Gas output for 1918. 2.374.200.000 cu. ft.; 1.044 miles of mains.
Customers Dec. 31 1918. 56.395.
See V. 93. p. 172; V. 97, p. 114, 527; V. 106. p. 1897.
in Oregon.
STOCK.—Common, auth., $3,500,000; issued. $3,000,000; all except
directors' shares owned by Am. Pow. & Lt. Co., which see.
Pref. auth.
$3,000,000; Issued, $2,357,900.
Divs. on pref. in full to May 1 1920. lncl.
BONDS.—Of the $750,000 Portland Gas <Jo. 6s of 196i. $379,000 are
deposited as part security for "1st andRef.M." bonds, leaving $371,000
outstanding now.
The "1st and Ref. M." is for $15,000.000;
Issued
$6,259,000; reserved to retire Portland Gas Co. 5s. the only prior lien,
$371,000: remainder issuable only for 75% of oost of permanent additions,
Improvements, An., provided the net earnings are \ H times the total Int.
charge on ail bonds out and those to be Issued. See V. 99. p. 1176.
1917 In V. 106. p. 1897.
Int.,&c, Pref. Div. (7%) Bal. Sur.
$795,307
$351,747
$143,358
$300,202
607,752
336,015
140.000
131.737
1,274.140
614,746
323,227r
140.000
151.519
Guy W. Talbot; Sec. & Treas., Geo. F. Nevins.—(V. 109, p. 780.)
REPORT.—For calendar year
Gross.
Net.
„
Cal. Year.
1918 —-$1,797,461
1917
1,361,150
1916
Pres.,
j
PORTO RICAN-AMERICAN TOBACCO CO. OF NEW JERSEY.—
ORGANIZATION,—Incorp. Sept. 22 1899 in N. J. and manufactures
cigars and cigarettes.
Owns entire capital stock of the Porto Rican-American Tobacco Co. of
Porto Rico, which operates 14 factories in Porto Rico, and owns and controls
2,000 acres of farming lands in Porto Rico; 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 factorv at> Tampa, Fia.,
and one-half of the capital stock of the Porto Rican Leaf Tobacco Co.
STOCK.—Auth. $5,000,000 (par $100); outstanding $4,976,867. Incl.
$908,187 sold at par to stockholders of record Feb. 14 1918; $290,620 Issued
Mar. 5 1918 to redeem dividend scrip, and $145,310 distributed Mar. 7
1918 as a 4% dividend.
V. 106, p. 826.
No bonded debt.
DIVIDENDS.—
'11. '12. 13. '14. '15- *16. '17. '18. '19. '20.
In cash
% 16
16
4
16
8
—
See
In 6% scrip or stock
20
20
20
15
10
8 13
6
text
In Feb
1918 a stock div. of 4% was declared payable Mar. 7 in lieu pf
the regular quarterly cash div.
From June 1918 to June 1919 the quarterly
3% dividend was paid In 3-year 6% scrip. Series 1 to 5, callable but without
convertible feature.
V. 107, p. 611, 1843.
In Sept. and Dec. 1919, owing
to strike (then ended), none.
V. 109, p. 780.
In March 1920, 3% in
scrip; June 1920, 3% in scrip.
~
-
REPORT.—For calendar year
Calendar Years—
1919, in V. 110, p. 975:
1919.
1918.
$910,933
Income and
excess
profits tax
1917$511,331
202,554
a$137,934
Net income
--------
Dividends, cash
(6%)298,612
in scrip and stock
(13)593,228
(8)290,620
(8)290,620
surplus
PITTSBURGH ROLLS CORP.—(V. 109, p. 2362; V. 110, p. 1193.)
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; ore mine on Cuyuna Range, Minn.
Manufactures pig iron, open-hearth basic steel blooms, billots, bars, wire
rods, wire, wire nails, wire fencing, steel hoops, bands, cotton ties, &c.
4 new open-hearth
V. 102, p. 2081.
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 injinstallmenta over a period of five years with interest at the rate of 5% per
In 1915-19 surplus earnings were used for erection of
furnaces in addition to redemption of $5,000,000 notes.
the deferred payments.
Id 1919 also acquired a substantial interest in a new iron ore company,
from which it is confidently expected a considerable tonnage of ore will be
received.
By these acquisitions the position as to raw materials was
"notably improved."
8 i'OCK.—May 2 1912 Increased pref. stock from $7,000,000 to $10,500.000 at par for impts.
V. 94. p. 634. 1253, 132L
No mtge. or add'l pref.
stock without consent of *4 of outstandllg pref.
V. 91. p. 1388. 1451.
The stockholders were to vote July 20 1920 on increasing the Common
stock from $7,000,000 to $14,000,000, stock dividend of 100% to be declared
if the increase was approved.
D1V8.— I
lull. 1912. *13. '14. *15. '16
'17.
'18.
'19toJune'20
"Gammon %\
8
8
8
0
0
6 8&20ex 8&20ex. 2%qu.(Q-J)
P*t>ferred % I
7
7
7
3 X
7 10*4 7 yrly (7Q-F) lKqu.(Q-M)
EARNINGS.—9 mos. to Mar. 31—
1919-20.
1918-19.
Decrease.
Sales
$20,192,634 $26,028,203
$5,835,569
Net profits (after Federal taxes)_____
1,150,502
1,879,208
728,706
REPORT.—Year 1918, V. 109, p. 1527.
June 30 Years—
1918-19.
1917-18.
1916-17.
1915-16.
Gross sales
$31,265,012 $37,930,842 $33,066,083 $21,848,036
Net prof., after deprec-.x$2,771,546
$4,556,443
$7,811,444 $4,564,067
Pref. dividends
(7%)735,000
(7)735,000
(7)735.000(14)1470.000
Common ,dividends.—(13 %)910.000(28) 1.960,000(28) 1,960,000
(4)280,000
„
1
»
—————
$1,861,443
$5,116,444 $2,814,067
S xfAfter setting aside $1,260,416 as reserve for depreciation and depletion
t.v
Checks mailed
Sec Sav & Tr, Port. Ore
Guaranty Tr Co, N Y
June)'21 June'22 New York, N Y
26% 1919 Q—J 31 Apr 30 *20 8% Chase Nat Bk, N Y
Q—J
Apr 30 1920 3%
12% '19
See
and $244,051
Balance, sur. or def
;_def.$160,678sur.$115,151 def.$69,909
a Net income for 1918 very small because of strike in Porto Rico for
nearly 8 months.
Luis Toro, Pres.; Arthur H. Noble,
Sec.-Treas.
N. Y. office, 250
Fifth Ave.—(V. 110, p. 665, 975, 1084.)
Balance, surplus
$1,126,546
Sec." (Wash. Ry.&El.)
POTOMAC ELEC. POWER CO.—See "El. Ry.
PITTSBURGH PLATE GLASS CO.—(V. 110, p. 665, 770.)
on
1 1940
J Jan
&
J
mailed
Checks
amounts so charged were $1,015,134
339 and $1,823,548. respectively.
do
annum
£ e
5 g
Q—F
Union Tr Co of Pitts
3 1 1919
942,256
2,160,000
1,608,460
1.128,276
def.$337,020
$3,398,924 $10,071,852
DIRECTORS.—M. H. Taylor (Chairman), W. K. Field (Pres.), A. W.
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. C. Dysart, F. J. Le Moyne (Sec.), 32 Fifth Ave., Pitts¬
burgh.
Treas. is William Miller.—(V. 110, p. 472, 1183, 1420.)
Balance,
Q—J
Q—M
Co of Pitts
Union Trus
1 1963
Aug 1920-23
1 1938
Apr 1 1920, 2%
June 1 \201tf%
May 11920. ltf
and other U. S. securities, $3,642,561;
91QR1
(OF
PENNA.)—ORGANIZATION.—
This company's stock was issued to the public in July 1917 in exchange for
the 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.
p. 1101.
Montour RR.. see "Railroad Cos."
On Jan. 1 1920 owned 184,321 acres and leased 1,913 acres of unmined
coal.
Number of mines, 70.
Coal prices fixed by Government, see V. 105,
PITTSBURGH
text
7 In 1918
7 per an
See
10,500.000
2,357.900
6,259,000
371,000
4.976.867
746,790
18.000.000
27,000,000
100
Tobacco—Stock $5.000.000
5.4
See text
100
100
1,000
1,000
g
5
40,000
2,643.000
—xxx
Div scrip ser 1 to 5 ($149,316 each) due quar
Prairie Oil & GasCs -Stock, $18.000.000
5
2,027,000
PRAIRIE OIL & GAS CO.—ORGANIZATION, dso.—Inoorp. In Kansas
1900.
Formerly controlled by Standard Oil Oo. of N. J., but segregated
In 1911.
In January 1918 was given permit to operate In Texas, and
in
In
April
was
below.
In the Ranger district certain
producing properties of the Texas Coal & Oil Co. have been acquired.
See Prairie Pipe Line Co.
fields.
oil
build a $10,000,000 refinery near Houston,
12 In. pipe line with the Gushing, Electra and Ranger
preparing to
to be connected by
V. 106. p. 1582.
1691,2014.
„
Stock auth., $20,000,000; out,
CA8H DIVIDENDS—
Since
(1912.
t
^
1914-15. 1916. '17 '18. *19. '20None
12
13 12 12 See
1913.
%\
25
6
%l
1911
Extra.
.
$18,000,000; par. $100.
0
0
V.96.p.1160 6
7
In 1920: Jan., 3% and 7% extra; April, 3% and 5% extra.
Stockholders or record. Feb. 9 1916 received as 160% div. the
8
14
tei
$27,000,000
stock of Prairie. Pipe Line Co.—whicn 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 Dec. 31 1917, V. 106, p. 1800, showed ^rplus of $53,743,458
cap.
(against $47,197,133 in 1916); accounts
ble. $3,000,000; bonds, $4,000,000.
Pres., James E. O'Neill, V.-P., W. S.
Office, Tulsa, Okla.—(V. 110, p 1990.)
„
payable, $23,861,952; bills paya¬
^
Fitzpatrick; Sec., John Hallihan,
PRAIRIE PIPE LINE co.—ORGANIZATION.—Incorporated In Kan¬
sas in Jan. 1915 and took over as of Feb. 1 1915 the pipe line of the Prairie
Oil & Gas Co.. extending from Red Fork, Ind., to Griffith. Ind.. Sec.. 860
miles, and will complete the 8-in. pipe line from Kansas City to a connection
with the Illinois Pipe Line.
Proposed 12 in. pipe line to Houston. It is
said, will have a delivery capacity of 40,000 bbls. dally and probably cost
over $5,000,000.
V. 107. p. 1485.
See Prairie Oil & Gas Co. above.
Initial div., 5%, Jan. 31 1916; April 1916 toApril 1917,5% and 5% extra
July 1917. 5%: Oct. 1917, Jan. 3918 and Apr. 30. 5% reg. and 5% extra;
July
and^Oct. 1918, 5%.
anCompare3Obio Oil Co.
1919, Jan., April, July and Oct., 3%; 1920, Jan.
In V. 100, p. 145; V. 99, p. 1915; and decision, V.
98. d. 1997: V
99. o. 53, 403.
Profit and loss surplus
1918 from $13,845,750 to $15,162,607 on Dec. 31 1918.
Wilhelm.—(V. 105, p.
p.
177. 1170. 2246 )
increased during
V. 108. p. 2246.
Kountze: Treas.. R. G. Hare: Sec.. P. M.
1215; V. 106, p. 506; V. 107, p. 1485, 24*2; V. 108,
Pres.. W. F. Gates; V.-P., O. F.
[Vol. 110.
INDUSTRIAL STOCKS AND BONDS
214
MISCELLANEOUS COMPANIES
Date
Par
Amount
Bate
When
Last Dividend
[For abbreviations, &c., see notes <Jn first page]
Bonds
Value
Outstanding
%
Payable
and Maturity
Places Where Interest and
Dividends are Payable
M,
Pressed Steel
Ca; £> -Stock common $12,500,000
Preferred stock
$100 $12 500.000 8 in 1919
100
7
12,500,000
5 K
100
1,250.000
20
19,732,111 201nl919
100
2,250,000 8 in 1919
6
100
9,866,000
15,000,000
100
12,063,500 7 in 1919
7,672.000 6 In 1919
100
5 k
1,000 xl8.926.000
Ci
d) 7% non-cum $12,500.000
k
G
Western Steel Otr Jfc Fdy M (see text)
1898
Gamble—Common stock $24,000,000 auth
Pref stock <8% cunU (See terms In "ditorial. May '93 Supp)
&
Procter
Pref (a A d) stock (6% cum) $45,750,000 auth call 110
8er g notes due $5,000,000 yrly Nlar 1 '20 to "23 call__xxxx
Public Service Co. of Nor Ill—Common stock $15,(XX).000
Preferred stock 6% cumulative $10,000,000 auth red 120.1st & Ref Mg red J10 beg Oct "21
ICjto*
Serial deb g due $1,000,000 ann call on 5% bas!s._IC.c*
Three-year collat notes series C call see text
xxxIC.c*
do
series D
do
do
1918
"
1911
1917
lOO&c
1920
>.__.xxxc*
2.000.000
100 Ac
100 &c
1919
2,500,000
Q—F
J Jan
&
Q—F
Q—J
Q—M 15 June 15'20
M
6g
2 8
'
•
,
N Y
do
do
do
do
Office, Clacinnatl.O
do
do
1H
8 Mar 1 '20 to '23 N
&
Y, Guar Tr & N Oi ty Bk
1H Checks mailed.
do
do
1H
11! Tr
A Sav
1 1956
Bk. Oh
May 1 *20
May 1 '20
Q-F
Q—F
A
Trust Co.
O Oct
&
MAS Mar '21-Mar *22 Chicago
do
6 g
.1,750,000
June 9 20 2%.
N Y
June 2 '20
1H
1 1948
15 May 15 '20 5% Co/a
IS Apr 151920 2%
Q—M
J
•
MAS Sept 1 1922
F
&
A Feb 1 1923
■■■'."•>
■
do
Underlying bonds—See text
8
100 120.000.000
Pullman Company—Stock $120,000.000
May 15 20
Q-F
2% NY,
Chicago
A
Boston
"
Excluding $5,700,000 First Jfc Refunding bonds deposited
x
coll ateralsec urlty for the Series "C "and"D
as
PRESSED STEEL CAR CO.—ORGANIZATION.—Incorporated In New
notes.
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.
Jersey on Jan. 13 1899 as a consolidation or the Schoen and Fox pressed
•teel equipment companies.
The company has plants at Allegheny, Pa.,
and McKees Rock, Pa., with a capaolty of 150 freight cars per day, and
Supplies electricity, gas, heat and water in 15 counties In the northeastern
part of the State of Illinois surrounding Chicago.
passenger car shops have a capacity of 750 steam or street railway cars per
annum.
Also owns (1) Western Steel Car & Foundry Co. (V. 74, p. 991,
On
835, 729: V. 80,
near
Chicago; (2)
On Sept. 12 1918 bid In for $1,312,000 the plant and other
properties at
Koppel, Pa., formerly owned by the Orrenstein-Arthur Koppel Co. (V. 91,
467), makers of mine
companies, &c.
V. 107,
railway outfits for industrial
1197 V. 108, p. 874.
Foundry Co. exercised the option to purchase
the Hegewlsoh property of the Illinois Car & Foundry Co. on Deo; 30 1911
for $1,100,000 .bondholders accepting the option to have their
1st M. 5%
60-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 & Foundry Co.
V. 95, p. 424; V. 94
D. 70. 356; V. 84, p. 53. 806; V. 96. p. 551.
p.
Tne Western Steel Oar
DIV8.
101.
cars, narrow gauge
p.
&
'02. '03. '04. '05-'13. *14.
1915.
*16.
17. '18.
'20
*19.
Com
_%( 4
4
5
3
None
3
None 2H
7
7H
Pref._»% (7% per ann. (1 %% Q.-F.) to June 1920 incl.
2.2,-,-
8
REPORT.—For year ending Dec. 31 1919, In V. 110, p. 761, showed:
Calendar
Gross
Total Gross Repairs, Pf.Divs
Corn. Div.
balance.
Year—
Sales.
Earnings. Renew.,&c (7%)
$
1919
$
$
Paid.
$
.Notstated
5,338,6401703864 875,000*
Notstated 4,818,893 868,107 875,000
44.034,844 2,940,601 810,293 875,000
31,202,646 3.476,831 725,678 875,000
1918
1917
1916
DIVIDENDS.—
169: V. 92, p. 458>. which has plant at Heeewlsch, TIL,
also Central Car Wheel Co. and Penn. Malleable Co.
p.
Surplus.
$
$
(8)1,000,000 1,759,775
(7*4)968,750 2,107,036
(7)875,000
380,308
531,250 1,344,902
OFFICERS.—P
N
Hnffstot. Pres.
N
8.
Reeder. V.-Pr«s.. N
V :
J. B. Rider, V.-Pres., Pittsburgh; J. F. MacEnulty, V.-Pres., N. Y.; C. E.
Church, Sec. & Asst. Treas., N. Y.; II. E. Swartz of Pittsburgh, Treas.
DIRECTORS.—F. N.
Hoffstot, N. 8. Reeder. C. Ledyard Blair.
James A. Blair, J. II. Beal, A. E. Braun, C. W. Friend, J. B. Rider, J. R.
McCune.
N. Y. office, 24 Broad St.—(V. 109, p. 376,483; V. 110, p. 761.)
On
BONDS.—The First A Ref. 5s of 1911 (not limited as to amount) cover
"after-acquired properties," and are a first mtge. on all property formerly
belonging to Illinois Valley Gas A Klec. Co. and Chicago Sub. Lt. Jfc Power
Co.. and are also secured by deposit of $2,114,500 North Shore Elec. Co.
"First and Ref." 5s and $401,000 1st M. 5s, $428,000 Economy Light Jfc
Power Co. 1st M. 5s and $408,000 Kan. Gas & Eleo. Co. "Firstand Ref." 5s
$97,500 Citizens' Gas Ce. 1st M. 5s and $17,000 other underlying bonds.
Additional bonds may be Issued as follows:
A sufficient amount to
retire the outstanding $11,160,500 underlying bonds and for 75% of the oost
of property hereafter
acquired,
time of acquisition, bonds may
liens to refund
GAMBLE CO.—Formed In 1890 under laws of New Jersey
candle, oils and glycerine business of firm of Procter A
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 South, are located at Ivoryaale, Ohio; Macon, Ga.; Kansas
carry on soap,
City, Kans.; Port Ivory, Staten Island, N. Y., and Hamilton, Ont. V. 109.
986; V. 81,
p.
in
1243, 1562; V. 83. p. 498; V. 90. p. 1047.
V. 93,
p.
and If mortgage liens exist thereon at the
also be issued to the par amount of such
1607; V. 94, p. 1190. 1321; V. 102, p. 1254.
—
-
Ref. A Gen. M.
000 g gu
do
Stark
g J A J
3,365,000 July 1 1932
[Int. at Central Trust Co., Chicago.
8,000
April 1 1923
$5,000.-/5
County Power Co. *♦* Mtge..6 April
As to
$5,000,000 serial debentures Issued in 1917 by Public Service Ce. of
Northern Illinois, see V. 104, p. 458.
Gamble.
p.
same.
Outstanding Bonds Assumed on Properties Purchased (Pledged V. 102, p. 1254).
[Excluding amounts deposited under First & Ref. Mtge. V. 107, p. 2381.)
Bonds—
Interest.
Outstanding.
Maturity.
LaGrangeWat..Lt.&P.Oo. IstM—5 g J & D
$171,000
Dec. 1 1921
Village of La Grange certificates,
10,000 To Dec. '21
North
Shore
Elec.
1st call 105[5gA& 0
1.864.000
Oct. 11922
lst&Ref M.call 107 Haft. Apr.'20(5 g A «fc O
1.676.500
Apr. 1 1940
[interest at Illinois Tr. A Sav. Bk., Chi.
Economy Light A Power lstM. s. f.5 g J 4 D
1.386,000
Dec. 1 1956
Kankakee Gas A Elec. 1st & ref. M_5 g M A 8
222,000
Sept. 1 1930
Citizens' Gas Oo.(Kank.) call 105—5 g F A A
125.500
Feb. 1 1932
Pontiac Light A Water Co 1st M 5a
85,000
Aug 1927
Northwestern Gas Light A Ooke(5gQ-M
1,747.000
Dec. 1 1928
Consol. M. $2,000,000 g
—-.(Interest at Central Trust Co., Chicago
Cicero Gas 1st M
6 Q-J
500.000
July 1 1922
PROCTER &
to
1912. 1913. 1914. 1915. Nov. 1916 to May 1920.
%
4
4H
5
5H
7% p. a. (1 % Q.-F.).
pref., 1H % quar. Feb. 1912 to May 1920.
common
NOTES.—The $2,500,000 series "C" notes and the $1,750,000 series
by pledge of First & Ref. Mtge. 5s at 75 and are callable,
part, at 100H and int. during first 30 months, and thereafter at 100
and int.
Additional notes may be issued only on deposit of a proportionate
all
or
1918 about
(Ivory
claimed,
about 39% of the country's production of hydrogenated lard substitutes
"Crisco," &c.) and about 40% of its glycerine.
See full data, V. 106, p.
1040.
Complaint, V. 107, p. 2015.
further amount of said bonds.
STOCK.—The stockholders on July 28 1919 authorized an increase in
the capital stock from $26,250,000 (made
up of $2,250,000 8% Cumulative
Pref. and $24,000,000 common) to $72,000,000, the new stock to consist of
Preferred dividends (6%).
Common dividends
Amortization and depreciation
30% of the value of the co. s output consisted of well-known
Soap, White Naptha, &c.) and the remaining 70% included, it
soaps
was
$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,
subscriptions payable Sept. 15 V. 109, p. 780. 483.
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
conditions may warrant and the business may
require, and all stock so to
be issued will be offered first to the holders of the common stock. V.
108,
p. 2636; V. 109, p. 483, 780, 986.
The stockholders voted Dec. 22 1919
to change the par value of the
common stock
now
from $100 to $20, Issuing In exchange for each share of $100
outstanding five shares each of the par value of $20.
The total amount
com. stock,
$24,000,000, was not affected. V. 109. p. 1993.
of authorized
DIVIDENDS.
On
common
_
f/98-'00. '01-'12. '13. '14. '15, '16. *17. 1918. '19
J
Also stk. pd. Aug.
20 yly. *12 yly
16
I
16
4
4
16
18
20
4
4
4
4
1920
Net earnings
Interest charges
Balance,
'THE)
order of maturity dates at 103, 102,
101H, 101 and 100 H. respec¬
tively, for notes having severally 4 years, 3 years, 2 years, 1 year (and a
a year in either case) and less than
one year to run.
The Issue
was made to provide for $18,500,000 bank
loans. &c.
See particulars in
V. 106, p. 1040, 1132.
4 »
M
A
£2
verse
fraction of
•
EARNINGS.—For year ending June 30 1919 (V. 109, p. 780):
«i
June 30 Years—
1918-19.
1917-18.
1916-17.
1915-16.
$193,392,044$176,920,519S128,549,649 $88,113,507
Cash div.
Rate
on common—
on common
Stock div.
(4%)
on com.
9,719,804
180,000
2,919,694
(20%)
583,939
PULLMAN
Its assets
to
the
7,056,494
180,000
2,807,477
(20%)
561,495
6,216.054
180,000
2,294,687
(17%)
539,926
S.
RR.
Administration
contracted
to
pay
as
Balance, surplus
net
$2,591,940
income is shown
$6,036,171
in
$3,507,522
this table after
2349. 2457: V. 107, p. 86. 2015. 2103. 2194: V. 108. p. 1572
In a proclamation issued on Dec. 24 1919 President Wilson fixed Mar. 1
1920 as the date for the termination of Government control of the company.
V. 109, p. 2405.
REGULAR CASH DXV3.1 '77-'80. '81-'83. '84-'98. '99. '00 to May *20.
Slnoe 1877 (%)—.—*.
j 8 y'ly. 9H y'ly. 8 y'ly.
6H
8 yearly.
Also in 1898 and 1906 and to stockholders of record April 30 1910 (last
20%) extra dividends to distribute surplus assets.
902; V. 83. p. 1174. 1233; V. 90. p. 451. 506. 854.
PRODUCERS
771, 2198.)
&
REFINERS
,
CORPORATION.—(V.
110,
p.
268,
(
PROVIDENT LOAN SOCIETY OF NEW YORK.—(V. 106,
p
1349.)
PUBLIC SERVICE CO. OF NORTHERN ILLINOIS.—ORGANIZA
TION.—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, 1616), Economy Light & Power Co. (V. 93, p. 39; v. 99, p. 613)
Illinois Valley Gas A Electric Co. (V. 93. p. 167: V. 91. p. 41). Chicago
Suburban Light & Power Co. (V. 92, p. 191) and Kankakee Gas Jfc Electric
V. 67, p. 75, 789. 840.
1919 was in V. 109, p. 1608: tota*
Cal. year 1918. V. 108, p. 2027.
1918-19.
1917-18.
1916-17.
$47,464,304
$23,287,252
REPORT.—For year ending July 31
surplus July 31 1919, $20,364,382.
Years ending July 31—
Earnings of
cars,
entire
year
5 months ending Dec. 31
♦Federal compensation—
1917
7 months ending July 1918
Year ending July 31 1919-
*6,854,167
-
-$11,750,000
3,216,760
1,720,255
$3,201,441
deducting interest
charges, including the interest on gold notes which amounted to about
$281,000 in 1916-17; $865,000 in 1917-18 and $1,326,000 in 1918-19.
Pres., Wm. Cooper Procter.
Office, Cincinnati.—(V. 110, p. 83, 771.)
472
rental $11,750,000 per
V. 109, p. 893.
Several wage increases and an increase in sleeping
rates were put in effect by the Federal authorities.
V. 106, p. 2305,
Returns from mfg. interest, &c_—3,689,936
Note.—-The
1,614,867
455.280
(7)832,734
451,571
133,980
bllti entering the board of directors.
U.
7% serial gold notes dated March 1 1918
$5,000,000 yearly, beginning Mar. 1 1919, but are subj. to call in re¬
7,325,532
180,000
3,794,660
(20%)
758,932
$8,797,765
3,488,431
annum.
NOTES.—The $25,000,000
Volume of business
1917.
$9,218,884
3,632,970
1,784,796
455,208
(7)837,632
438,234
116,998
CO.—On Jan. 1 1900 the Wagner Palace Car Co.
Pullman Company, representatives of the VanderV. 69. p. 854: V. 70. P. 40.
In 1908
began building ateel cam.
V. 84, p. 697; V. 87,p. 1163; V. 90. p. 506; V. 97;
p. 669.
V. 90. p. 1617, 1682: V'. 91. p. 157. 280. 1332. 1517. 1777; V. 92.
p. 193, 265.
Orders In 1918. V. 106. p. 196, 934. 1905. 2015.
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, p. 1614.
The taking over of the Pullman service for operation by the Government
was ordered on July 3 1918, effective as of Jan. 1 1918; in Aug. 1919 the
•old
20 5,5,-.-.
*Also extra dividend of 14
2-7%. paid Jan. 2 1904. and 25% Dec. 1905.
V. 95. p. 1334; V. 96, p. 1776.
Net aft. res., depr., &c.
Pref. dividends (8%)_>.
surplus
$9,325,913
3,679,574
1,902,706
455,280
781,191
430,660
109,737
1918.
Directors (and officers): Samuel Insull, Pres.; Frank J. Baker, Charles A.
Munroe, John H. Gulick, V.-Pres'ts; Henry A. Blair, Louis A. Ferguson,
Wm. 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., Chicago.—(V. 108, p.
789; V. 110, p. 771.)
car
mature
y
REPORT.—For year 1919 In V. 110, p. 771.
1919.
Calendar Years—
Total income
4
20
"D*'
notes are secured
Gross income
$15,439,936 $33,358,179 $49,184,559
Operating expenses, &c., 5 months.$13,702,054
Year ending July 31 1917
$29,196,669
Corporate expenses & taxes, 7 mos__
3,664,666
Year ending July 31 1919
$2,709,879
Net earns, pd. to other interests (5 m.)
Cr. 18,639
Year ending July 31 1917
184,894
x
Depreciation in general
x2,607,891
6,170,584
Dividends (8%)
9,599,792
9,599,792
9,599,792
-
Balance,
surplus
$3,130,265
$3,802,414
$4,032,628
x Under Federal control beginning Jan. 1 1918, this item is taken care of
by U. S. RR. Administration.
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 Vanderbilt, N. Y.
Secretary is J. F.
Kane.
General offices, Chicago, 111.—(V. 110, p. 83.)
■215
INDUSTRIAL STOCKS AND BONDS
Mat, 1920.]
Last
Date
Par
Amount
Rate
When
Bonds
Value
Outstanding
%
Payable
MISCELLANEOUS COMPANIES.
IFor abbreviations, <fcc., see notes on first
page.]
Dividend
Places
Where Interest and
Dividends are Payable
and Maturity
1
100
100
500 &c
in Dela¬
Owns all the stock ($550,000) of the Florida Sugar
Trinidad Sugar Co.
The
company's plant at Punta Alegre consists of a sugar mill with other build¬
ings having a normal capacity 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.
**.
"
■
■ ■„,
.
.
&c.—Common
authorized,
(tem¬
DIVIDENDS.—The directors in Sept. 1919 reserved for the payment of
dividends upon the Common stock during the year beginning Oct.
a sum sufficient to provide for the payment of dividends at the rate
share) per annum; 2*4%, accordingly, was paid Oct.
and Jan., April and July 15 1920.—V. 109, p. 1185.
($5 per
1 1919
of 10%
15 1919.
BONDS.—The company had outstanding in July 1919 $1,494,500 1st
M. 6% conv. bonds and $2,993,800 coll. trust 6% conv. bonds.
All these
were
called for payment on
Jan. 1 1920.
REPORT.—For year ended May 31 1919 was
given in full in V. 109,p.
1710, showing:
Years ending May 31—
Output of estates, bags
Operating profits
Interest
Depreciation
on
1918-19.
1917-18.
605,150
442,746
$3,017,622 $1,822,979
and loans
bonds
on
•
486,141
602,063
-
522,692
plant
expenses (&c.), net
Estimated U. S. and Cuban income & war prof. tax.
Cr.2,431
226,913
193,600
for year
$1,573,519
$763,975
Pres., Edwin F. Atkins; Treas., Robert W. Atkins; Sec., John E. Thayer,
Jr.—(V. 108, p. 885, 978, 1941, 2130; V. 109, p. 277, 376, 893,1614, 1698,
1706.)
Available profit
QUAKER OATS CO.—ORGANIZATION.—Incorporated in New Jer¬
Sept. 211901.
Owns and operates plants for the production of cereal
food products (notably Quaker oats, Puffed wheat, &c.) at Akron, O.;
'Cedar Rapids, la.; Fort Dodge, la.; Battle Creek, Mich.; Tecumseh, Mich.;
Peterborough, Ont.; London, Ont.; Neepawa, Man.; Saskatoon, Sask.;
sey on
I
and until the outbreak of the war,
Hamburg,
Germany.
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.
REPORT.—For cal. year 1919, in V. 110, p. 976,
Gross
Nett after
Taxes,
Pf. Divs.
STOCK, &c.—Pref. stock has no voting power (except as regards Increase
dividends are 3 months in arrears.
V. 83, p. 574.
In July 1919 the authorized issue of each claRs of stock was increased
from $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.
/ 1907 U9.
TO.
1911-16-
On common (cab)
I 8 yrly.
9*4
10%
In 1918, Jan., 3%: April 15 1918 to April 15
1918.
1917
1919 20
yrlv
10*4
15
See text
1919 paid each quarter 3 and
1% extra.
July 1919 to July 1920 paid 3%; no extra.
V. 108, p. 2335,
789; V. 106. p. 719.
Also common stock. 50% ($2,500,000) 1912 and 10% ($750,000) in 1916
REPORT.—Report for cal. year 1919, in V. 110, p. 877, showed:
Calendar
Gross
DeprePre/. Divs.
Common Diss.
Balance,
Year—
Profit.
cia'n, Ac.
(6%)
Paid.
Surplus.
1919
$3,733,729 $1,053,835
$751,251
(14)$1,177,500
$751,143
1918
4,052,265
549.677
632,202
(15) 1.237.500
1.632.886
1917
5.211.752
384,848
£563,050
(10*4) 866,250
3.397,604
Earnings.
RAY CONSOLIDATED COPPER
H. Douglas and
Robert. Stuart; ''ec., Robert GordonOffice. 1600
Railway Exch., Chicago, 111.—(V. 109, p. 78, 277, 376; V. 110, p. 877,
1420.)
Stuart; Treas..
(COPPER)
MINING
110, p. 2082.)
CO.—(V.
108.
p.
885,
1826,
2335
V. 109, p. 987; V.
AMERICA—Incorporated in Nov. 1919
patented radio, &c.f devicesbelonging to the Gen¬
RADIO CORPORATION OF
Has contracted to
use
the
also in Oct. 1919 made a proposition to acquire all the
Marconi Wireless Telegraph Co. of America (except its
eral Electric Co.;
manufacturing plant, which is to be leased to the General Electric Co.), its
U. S. Govt, and claims against Individuals on infringement
account, the first $500,000 from these last, however, to go to the new radio
corporation with a view to eliminating therefrom the dominating foreign
stock interest and to develop extensive wireless operations.
V. 109, p. 1704.
The plan was ratified by the stockholders of the Marconi Wireless Tele¬
graph Co. of Amer. on Apri 5 1920 and the latter company was dissolved.
STOCK.—Authorized issues, both with the same voting rights:
(a)
claims against
5,000,000 shares of common stock with no par value; (b) $25,000,000
7%
(total outstanding) of Ray & Gila Valley RR.
Capital
1 1920, $15,771,790.
of
common
shares
of
and
$13,517,400 pref., while $10,000,000 pref. and 2,000,000
were offered for Marconi property.
V. 110, p. 173,
common
367, 1532.
Pres., Edw. J. Naliy; Sec.
Chas. J. Ross; Treas., Geo. S. De Sousa.—Y. 110, p. 367.
OFFICERS.—Chairman, Owen D. Young;
& Compt.,
RAINEY-WOOD COKE CO.—V. 109, p. 781.
Production
RAILWAY STEEL-SPRING
CO.—Incorp. In New Jersey on Feb
25
p.
942. 734Total capacity steel spring plants 155.000
plants, 69,500 wheels; tire plant, 450,000 tons.
wheel
tons: steel-t1r<vi
The company's
1920.
4,140.000
1919.
3,650,000
15,824,073
16,062,000
{Lbs.)—
April
Four months
REPORT.—Year 1919,
in V. 110, p. 1747, shows
46,011,371
11,547,103
1917.
1918.
1919.
1920 (3 mos.)
Copper produced (lbs.)_
Total operating revenues
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%T
*(42*4%)
*
Includes $788,590 5% as capital distribution.
* Capital distribution
DIVIDENDS.—
1913. 1914. 1915. 1916. 1917.
1918. 1919. 1920.
Percent
11*4
7**
12*4
27*4
42
32*4
'20 2*4,-,In June 1917 paid cash dlv. of 5% and capital distribution of 5%, and
in July extra 2% to aid Red Cross contributions. V. 104, p. 2558; V. 108,
Balance for dividends—
Dividends
Rate of dividends
-
$637,300
394,295
(2**%)
Q7Q
Y1
Pres., Sherwood Aldrich, 25 Broad St., N.
Y.—(V. 110, p. 877, 1193
1649, 2082,2198.)
(ROBERT) REIS & CO.—V. 110, p. 268, 1095.
REMINGTON ARMS UNION
METALLIC
CARTRIDGE CO.—
ORGANIZATION.—Incorp. Jan. 17 1916 in Conn, to take over the Rem¬
ington Arms & Ammunition Co. of N. Y. and the Tlnion Metallic Cartridge
Co. of Conn.
Plants at Bridgeport, Conn, and Ilion, N. Y.
Sale of plants
built for war neede.
V. 110, p. 472, 1192.
Remington Arms Co. was
incorp. in May 1920.
This was understood to be a step in bringing about
reorganization of the Remington Arms-Union Metallic Cartridge Co.
See
May 29 "Chronicle."
STOCK.—Authorized capital Is $60,000,000 In $50 shares, consisting
of $20,000,000 7% cuin. pref. and $40,000,000 common stock, all the pre¬
ferred and $30,000,000 of the common stock being outstanding.
Pre?, is
retlrable at 110% and accrued divs. on any dividend date.
a
5% gold notes, due Feb. 1
been retired, the remainder was paid at
of any new securities. V. 102, p. 527;
NOTES.—In 1916 Issued $15,000,000 3-year
1919; about $10,000,000 having
maturity without the creation
V. 103. p. 76; V. 108, p. 586.
'OFFICERS,
&c.—Managing
Committee, organized
in
Dec.
1916:
Pryor, Chairman; Chas. II. Sabin, Pres. Guaranty Trust Co.;
W. E. S. Griswold.
The President is C. L. Reierson;
V.-P., I. 8. Betts, W. F. Lawrence; Treas., Chas. W. Many; Sec., Geo.
Bingham.
N. Y. office, 233 Broadway.—(V. 110, p. 472, 1192.)
Samuel F.
James Stillman and
CO.—Organized In 1893 in N. J. as
REMINGTON TYPEWRITER
Co.: re-Incorporated In New York In May 1909.
V. 88 ,
752, 1377; V. 89. p. 925.
In Mch. 1913 changed name to Remington
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
cos.
V. 96, p. 866: V.79,p. 1481; V. 101. p. 1812.
Prices, V. 109, p. 1706.
Purchased plant of Nathan Mfg. Co. at Flushing early in 1920.
Union Typewriter
p.
LATE
First
DIVS.—
preferred,
*02-'07. '08-'12. *13. '14. T5-'18. 1919.
7
8
0
Oct. 1
%.. 7 yrly. 7 yrly.
% 8 yrly. 8 yrly.
Second preferred,
Common %
6 yrly.
1920.
IX.IX. IX
7
See
7' see
8
Text 6 text 2, 2, 2, 0
None 0,
1918, amounting to 28% on 1st
dividends on
pref., was paid, half in cash and half in Liberty bonds; the div. of 32% on
the 2d pref. was paid (during 1919) 6% in cash, 6% in Liberty bonds, and
20% in first pref. Series "8" 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.
The accumulated
STOCK.—A majority of the stock
(all classes) is held in a five-year voting
Benedict.
trust, expiring Dec. 31 1920, the voting trustees being Lorenzo
Archibald A. Forrest, A. Barton Hepburn, Robert W. Martin and
Guy E.
See bonds below.
All stocks listed in June 1919.
V. 109, p. 78.
Under plan of Nov. 1 1918 for the payment of accumulated dividends
on the pref. stock and the reduction of its bonded debt, the company to
June 5 1919 had by the conversion of $1,000,000 of bonds into 1st pref.
3tock and by purchase reduced its bonded debt to $1,925,000 and expected
to further reduce the bonds to $1,650,000 as proposed by the plan.
Under
Tripp.
this
($4,000,000) of 1st pref. stock was increased
and on June 2 1919 by
plan also the auth. issue
Nov. 26 1918 by
$2,000,000 (designated Series S),
Series
V'
1925.000 (niaWn? a total of $2.925.0001 Series S stock).
This
(i e
"special") has all the privileges of the other 1st pref., bub is subject
to call at any time at 110
divs
V. 107, p. 1927. 1925, 1750, 2194.
On June 5 1919 there was outstanding $3,998,000 first pref., $1,000,000
first pref. Series "S," $4,994,000 2d pref. and $9,996,000 com. stock and
$1,925,000 1st M. 6s.
V. 108, p. 1158.
an£
BONDS.—The mortgage is
the initial Issue
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
stock auth.. $16,-
000,000; outstanding. Jan.
on
{>ref., par $5. Of this stock 110 ($5.50) and cumulative after fiscal year endCallable at General Electric Co. acquired 2,000,000 shares
ng in 1923.
CO.—ORGANIZATION.—Incorp.
In Me. In May 1907.
Mining lands at Ray, Ariz., comprise 2,143 acres.
M illand 4,324 acres owned at Hayden, Ariz.
Owns $1,76/, 100 capital stock
-
OFFICERS.—Pres., Henry P. Crowell; V.-Fa., James
property of the
showed:
Com. Divs.
Deprec., &c.
&c.
(7%).
Paid.
Surplus.
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 2,687,859
1916-_ 14,086,499
4,022,590
1,311,785 945,000
168,750 1,597.056
1915-7,043,957
1,688,466
325,237 945,000
418,229
Total surplus Dec. 31 1919, $11,532,004.
Pres., F. F. Fitzpatrick; V.-Pres., A. S. Henry; Sec., M. B.Parker;
Treas., H. S. Banghart.
Office, 30 Church St., N. Y.—(V. 110, p. 976,
1083, 1094.)
Year.
of pref. stock) unless
QUINCY
&
Mar. 1920 paid 2% quar.
Some of these
plants also produce commercial mixed feed.- Plants for the production of
reed alone are operated at Morris, 111., and Richford, Vt.
Flour mills are
owned and operated at Akron, Ohio; Cedar Rapids, la.; 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 cereal 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 offices in the United States and Canada.
John
J
do
July 1 1920 1X
,do
do r
do
Jnly 1 1920 1X
do
do
July 1 1920 2%
J Jan 1 '20 to *26 Columbia Tr Oo. N Y
DIVIDENDS on pref., 1*4% quar., paid June 1902 to Mar. 1920. incl.
Com.. 2% 1904: 1905 to 1907. 4% vearly 1908. 3%' 1913. 2%; 1914-15.
none.
Dec. 1916 to Sept. 1918, 5% yearly (1*4% Q.-M.); Dec. 1918 to
381,694
92,434
General
DIVIDENDS(%)—
6 g
do
Check from Co's office
O See text
&
Q—J
.Q—rJ
Q—J
7
*
N
Oo,
Cal.
5 1919 to retire the $760,000 8%
porary) pref. stock and to make a new issue of $1,000,000 8% pref. stock.
V. 109,
p. 893, 1185.
The latter, however, was not issued and has been
canceled.) « ^aum
&
^
Itt .£9
m
fe£
bonds
y
Tr
works 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.; Scranton, Pa., and Montreal, Canada.
(par $50), Increased
$12,000,000
A
9.996.000
3.998.000
1,091,200
4,994,000
1,650,000
100
Aug. 3 1915.
STOCK,
text Mar 31 '20
13,500.000 5*4 1918 See
2% Bankers
Mar 20' 20 IX
do
Q—M
13.500.000 7 in 1918
Q—J
July, 25c.
15.771.790 20 in *19
10
PUNTA ALEGRE SUGAR CO.—ORGANISATION.—Incorp.
in 1918
See text
5
1916
15 Julyl5 '20 $1.25
See text
100
100
Co. and the entire $900,000 stock issued by the
from $8,000,000 in May 1919.
The shareholders voted Sept.
18,000,000 6
'
'18 Q—J
15 Mar 31 '20, 3% Checks mailed
do
Q—F
Aug 31 '20, 1*4
9 001.000 15 in
100
100
New
Radio Corp of Am—Common stock 5,000,000 shares no par.
Pref stock 7% cum beginning in 1923 $25,000,000
Railway Steel-spring Co—Common $13,500,000-Preferred (a & d) 7% cumulative $13,500,000
Ray Consolidated Copper Co—Capital stock $16,000,000.
Remlngton Arms Union Metallic Cartridge Co (see text)
Remington Typewriter—Common stock $10,000,000--.-.
First 7% pref (a & d) stock cum $4,000,000
First 7% pref (a & d) Ser "S" (special) stock cum call 110
Second pref (a & d) stock 8% cum $6,000,000 auth
1st M $550,000 yrly call 102*4 conv into 1st pref _ Col .c*&r*
ware on
Q—J
$50 $11,637,150
Punta Alegre Sugar Co—Stock $12,000,000
Bonds convertible (see text)
Pure Oil
—See Onio Oltles Gas Oo
Quaker Oats—Common stock $25.000,000
--Preferred (a & d) stock 6% cumulative $25,000.000
•
($5,500,000)
limited to $7,500,000 serial bonds, whereof
mature $550,000 Jan. 1 annually 1917
was to
1926, both incl., callable at 102*4, but convertible
after Jan. 1 1918 Into new 7% first pref. conv. stock
to
it was arranged to reduce
tion to $1,650,000. V. 102, p. 72, 158.
owned Dec. 31 1918, $46,791.
above stated,
at option of holder
at par. In 1918 as
the outstanding unmatured por¬
Sub. co. bonds and stock not
2115
INDUSTRIAL STOCKS
MISCELLANEOUS COMPANIES
[For abbreviations, &c.,
see notes on
Par
Amount
Rale
When
Last
Dividend
'.Places
Value
Outstanding
%
Payable
and
Maturity
j
250,000 shs.
New
None
$100
""loo
1886
100
1910
i.000
1906
Ac
1.000
""None""
100
1918
1,000
100
100
See text
See text
100
1,000
1918
1918
REPORT for year ending Dec. 31 1919 in V. 110, p. 1284, showed:
Net Earns. Int.(Net). Deprec.
Pref.Divs.
Bal.,Sur.
Total Sur.
$458,645 $6,070,540
728,471
5,611,895
4,883,424
1,677,134
1,415,459
3,206.291
Year—
—
Chairman, Lorenzo Benedict; Pres., Frank N. Kondolf; Sec., Geo. K.
Gilluly, 374 B'way, N. Y.
Office, 374 B'way, N. Y.—(V. 110, p. 771,
1285, 1754.)
•
REPLOGLE STEEL CO.—ORGANIZATION.—Incorp. under laws of
Delaware Oct. 30 1919 as a holding company.
The company proposes to
an operating company and to engage in the
mining of iron ore,
manufacture of pig iron, quarrying of limestone, and to carry on business
incidental thereto or connected therewith, upon
acquisition of 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
owns
In
fee
5,100
acres
of iron
ore
land
near
Q—J
hH
7 g
M
7
8
12% U9
12% '19
20,000,000
15.000,000
450,000
600,000
&
H-j
fVa
7
6 g
6
J
&
6
A
&
1931
tiauover
bank. N
.\at
*
*20 to '28
May 15 1919
Apr 1 1920
1 *4 New York
N Nov
Q—M
Q—M
1925
1920 1H
1920 1*4 New York Trust Co, N Y
iy40
Cent Union Tr Co, N Y
1
1920-23
New York
Sept 1 1919 1*4 Checks mailed
do
Sept 1 1919 2%
Apr 1 1920 3% Checks mailed
Apr 1 1920 3%
do
Apr 1 1920
1*4
New York City
Aug 1 1922
Winston Salem, N O
do
do
J July 1 1920
O Oct 1920
REPORT.—For calendar year 1919, in full, V. 110, p. 867, showing:
Gross profits....
5,031,837
Depreciation, &c.__
1916.
800,976
$52,844,017
16,893,212
1.842,125
18,906,815
28,769,021
4,695,939
2,273,832
1,245,312
733,403
738,182
759,334
858,737
Excess profits taxes, &c.
315,112
5,680,759
9,878,657
Preferred dividends..(7%)1,750,000 (7)1,750,000 (7)1,750,000 (18)4500.000
Common dividends..(6%) 1,632,687 (6)1,631,460 (6)1,631,460(1^)407,865
Int.
on
bonds and notes.
Balance, surplus...def.$1,241,490
$4,410,475 $12,475,737
Total profit and loss surplus Dec. 31 1919, $33,880,971.
$9,881,298
EARNINGS.—For quarters ended March 31:
1920
Net
(after Federal taxes)
Total
1918
1919
t$2,353,021
Other income
sell iron, iron ore, steel and other metals; to mine ore and other mineral
dispose of mines, minerals and mining
Payable
J July 1 1923
1919.
1918.
1917.
Unfilled orders Dec. 31486,379
206,515
418.943
Gross business
$45,872,344 $75,224,110 $78,325,461
become
Steel Co.
&
"Q-F"
Text
100,000
904,000
3,000,000
369,334shrs
$6,767,400
2,198.500
text
1919
$3,327,457 $116,549 $300,200 $2,452,063
1918-... 2,469,031
264,000
286,560
1917
2,256,134
297,000
282,000
1,190,000
1916
2,015,946
322,387
278,100
Wharton
J
6
M &
S Sept 1
6
Aug 2
$30,000,000 6 in 1919
Si-F
July 1
25,000,000 7 In 1919
0 —J
i
A
A
O Oct
5 K
12,941,000
I
A
D Dec 1
201,000
Jan 1
6 8
900,000
text
1919
are
See text
See text
100
Where Interest and
Dividends
See text
See text
1918
.
The
[Vol. no.
j
Date
--
or
BONDS
Bonds
first page]
Replogle Steel Co—Stock auth 500,000 shares
Wharton Steel Co stock authorized 310,000,000
Wharton Steel Co first mortgage convertible
'
Wharton & Northern RR stock authorized 3500,000
Morris County RR first mtge auth 3300,000
Republic Iron & Steel—Common stock 530,000,000
Pref 7% (a & d) cum (V 69. p 850) $25.000.000
Sinking fund gold (lsfc)M $25,000,000 reti par Xe.xc»Ar*
Potter Ore first mortgage gold guaranteed (text) s f
x
Bessemer Coal & Coke Co 1st M gold due 3100.000 yly.Peh
Republic Motor Truck—Com stock 100,000 shares
Preferred (a & d) stock 7% cum call 115 auth $1,000,000
First mtge & coll trust 7% serial notes call BaGcl.xxxc*
Republic Rubber Corp—Cora stk 1,500,000 shrs no par val
1st pref stock 7 % cum 310,000,000 Issued & held for
exchge
2d pref stock 8
cum $2,500,000.
Subscribed
noldc (R J) Tobacco Co—Common stock
Class B com stk $10,000,000 authorized <see tert)
Pref stock 7% cum $20,000,000 (V 106, p 1622)
3-year notes call 1st year 102; 2d yr 101; 3d yr 100^-Ba-C*
Notes or scrip for July 1918 3% div
do
for Oct 1918 3% div
substances; to acquire and hold
rights and claims.
AND
t$l,572,475 f$3,527,729
112,873
Exhaustion of minerals
Interest charges
254,327
$2,465,893
398,820
104,165
income
Depreciation and renewaLs
200,971
$1,773,446
454,571
86,494
178,425
$3,782,056
496,255
71,932
192,101
$1,053,956
437,500
407,865
$3,021,768
437,500
407,865
185,591
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.
Preferred
Common
SECURITIES OWNED.—Owns the following securities of the Wharton
Steel Co.: $3,145,000 capital stock
(entire amount issued), 31,029,000
6% notes due Dec. 28 1919, $2,796,000 6% First Mtge. Conv. bonds due
July 1 1923.
Balance, surplus
$889,817
$208,591
$2,176,403
t These are the net earnings from operations, after deducting charges for
and repairs of plants, amounting to $1,518,717 in 1920,
$1,298,708 in 1919 and $1,003,071 in 1918, respectively, and also after
Balance-
dividends
dividends
$1,777,317
437,500
450,000
(1^%)
(14%)
maintenance
provision for excess profits, &c., taxes.—(V. 110,
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% notes due Dec. 28
1919, auth. and
issued, $1,200,000; 6% first 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.)
i
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,
p. 2271.
EARNINGS.—Income account of Wharton Steel Co. for 12
mos.
ended
Oct. 31 1919 vas as follows: Revenue from sales, $1,887,868; cost of
sales,
$1,965,130: expenses, $294,219; net operating loss, $371,481: other income,
$52,575; interast on funded debt, $227,948; net loss, $546,854.
Profit
arid loss, surplus, $1,703,321.
Income account of Wharton & Northern RR. Co. for 12 mos. ended
Oct. 31 1919" Gross oper. rev., $546,963; oper. income, $280,659; total
income, $284,112; deductions, $57,437; net income, $226,675.
Profit and
loss surplus, $92,6,58
V. 109, p. 2271.
OFFICERS.—Chairman, J. Leonard Replogle;
Pres., W. II. Brevoort;
V.-P., C. H. MacNeill; Treas., L. K. Diffenderfer; Sec., S. H. Bell; Asst.
Sec. & 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 Harry F. Sinclair, New York City.
Main office,
120 Broadway, New York.—(V. 110, p. 2198.)
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, &c.,
mining properties in Mesaba, Marquette and
Menominee, extensive iron and coal lands in Alabama, &c., 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;
y^I°V?o228; v- 71» P- 454: v- 77• P- 455; v. 79, p. 1480, 1702; V. 81, p.
1662;
Vj 83, p. 1035; V. 84, p. 342; V. 87, p. 1303. In Jan. 1918 the Woodside Coke Co., a 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 & Tin Plate
Co., which has 10 sheet mills near Niles, O.
V. 108, p. 1614,1941; V. 110,
p. 867.
In Nov. 1906 Republic Iron & Steel and Tenn. Coal 8c Iron
Jointly guar¬
V. 83. p. 973, 1417.
anteed $700,000 5% bonds of Potter Ore Co.
STOCK.—26,480 shares of unissued
common
stock
were
offered to stock¬
holders of record Dec. 26 1919, at par to the extent of
10%
V. 109, p. 2177, 2270.
LATE DIVS.—
On preferred
On
On
IM1. *12. *13. *14. *15. '16. *17. '18.
( 7
1H
7
5H 1*4
7
7
7
accumulations—I
common
11
..
1
8
1
..
__
..
4
..
6
of holdings.
'19.
7
1920.
1*4,-4*4
1H,-,
6
6
--
l^,-,_._
BONDS.—The 5s of 1910, now a first lien on the entire
property, are
callable for Blnklng fund (minimum $250,000) and also on ana after
Apr. 1
1920 as an entire issue at 105 and int.; $19,869,000 had In Jan. 1919 been
issued to retire the 5s of 1904 and for general purposes (of which $6,868,000
retired
by sinking fund and $60,000 held In treasury.)
The remaining
$5,131,000 of the $25,000,000 auth. are reserved for issue for acquisitions
V. 90, p. 451, 703, 854, 1048; V, 92,
p. 1182; V. 93, p. 51; V. 95. p. 622, 822; V. 100, p. 1353, 1442.
and betterments under restrictions.
There were also, Dec. 31 1918, $133,000 bonds outstanding on the
Martin & Palos Coke Works properties.
In 1917 $1,000,000 6% serial gold bonds were assumed on
purchase of
the Bessemer Coal & Coke Co.'s
property (Bessemer mines Nos. 1 and 2)
having
a
capacity of 600,000 tons
or
coal yearly in Feb. 1918.
867, 1754.)
p.
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 of 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%
to date; on the Common stock Feb.
(Q.-J.) since organization
July
15 and May 15 1919, $1 each.
15 1919 div. passed.—V. 109, p. 893.
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.):
First year 1004', 2nd year 101; 3rd
gear 101 1-3; 4th year 102. stock of the Torbenson Axle Co.—See offering
y deposit of the Common A first mortgage on entire property; also secured
in V.
107,
p. 2382.
Earnings for Year Ended June 30 1919 in V. 109, p. 1372
Net
Net
Fed.
Pref.
Com.
Bal.
June 30 Yr.—Sales.
Profit.
Taxes.
Div.
Div.
Sur.
1917-1918—$20,522,381 $1,485,081 $500,000 $70,000
$915,084
1918-1919--- 16,513,377
862,902 *562,310
67,299 $200,000
33,293
,
*
Estimated.
Consolidated income account for the 3 months ending Sept. 30 1919 show$6,264,773; cost, general expenses, &c., $5,619,822; net profit,
Net sales,
$644,951; other income, $122,279; total income, $767,230; interest charges,
&c., $246,327; balance, surplus, $520,903.
OFFICERS.—Pres., Frank W. Ruggles; 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., II. O. Minich; Sec.-
Treas, Chas. G. Rhodes.
General office. Alma, Mich.—(V. 108, p. 885.
2533; V. 109, p. 483, 1372, 1706, 1799, 1993.)
REPUBLIC RUBBER CORPORATION.—Incorp. Oct. 0 1917 (V. 105,
1622, 2279) under laws of N. Y.
Has acquired nearly all the outstanding
capital stock of the Republic Rubber Co. of Youngstown, O., and the entire
property, assets, business and good-will of the Knight Tire & Rubber Co.
of Canton.
See full particulars regarding organization, &c.. In V. 105,
p. 1622, 2279; V. 107, p. 807, 2295.
The 2d pref. stock (V. 107, p. 2295)
Is convertible prior to Jan. 1 1926 into common stock, one share of pref. for
10 shares of common and is callable at $115 a share beginning Dec. 11921.
p.
The stockholders voted Feb. 20 1920 to increase the auth. common stock
from
650,000 shares to 1,500,000 shares, no par value.
V. 110, p. 877.
7% and 8% p. a. were being paid (Q.-M.) on both classes of pref.
In 1919 full
Financial statement of Aug. 31 1918, V. 107, p. 2473, and annual report
for cal. year 1918 in full In v. 108, p. 1184, showing; Gross sales, $15,749,-
627; net earnings, $1,560,167; total net income, $1,577,110; plant deprec.
& Int., $575,007; stock issue expense & Fed. taxes, $339,190; bal., sur.,
$602,913.
Chairman, William Wilms; Pres., E. F. Jones; Treas., H. J.
Stambaugh.
N. Y. office, Singer Bldg.—(V. 110, p. 567, 877, 1094.)
REYNOLDS (R. J.) TOBACCO CO.—ORGANIZATION. Ac.—In¬
corporated in New Jersey Apr. 3 1899.
Manufactures plug, twist and
smoking 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.
Alsy, Reidsville, N. C., Lexington, Maysville and Springfield, Ky.
STOCK.—Holders of the $10,000,000 common stock of record Feb. 15
1918 had the right to subscribe at par for $5,000,000 of Class B common
1918 of the $10,000,000 old common and
$5,000,000 outstanding Class B had the right to subscribe for the remaining
stock and holders of record May 28
$5,000,000 Class B at par on or before July 1.
V. 106, p. 934 2126.
Class B has same rights and privileges as common, except it will have
no voting power unless the company fails for 90 days to pay the regular
common stock dividend.
V. 105. p. 1622, 2190.
To take care of increasing business the directors on Nov. 6 1919 authorized
the issuance on Jan. 1 1920 of a further $10,000,000 7% cum. pref. stock,
$20,000,000
outstanding.
Common stockholders (Classes
the privilege of subscribing
in the ratio of one new share for each two shares held.
See V. 109, p. 1709, 2177; V. 106, p. 1622.
In May 1920 the directors recommended: (1) the declaration of a 200%
making
pref,
"A" and "B") of record Nov. 21 were given
to the new stock at par
stock dividend
on both com. and Class B com. stock payable in Class C
non-voting com. stock; (2) the reduction of the par value of the com. stock
from $100 to $25; (3) to list ail classes of stock on the N. Y. Stock
Exchange.
Compare V. 110, p. 1978.
DIRECTORS.—John A. Topping (Chairman), G. Watson French, Thos.
J. Bray (Pres.), Earl W. Oglebay, Edw. J. Berwind, Alexander
Glass,
W. T. Graham, J. W. Deetrick (V.-Pres.),
George W. Watts, H. L.
Rownd (V.-Pres.), and Howard M. Hanna Jr.
Richard Jones Jr. is Sec.,
and H. M. Hurd, Treas.
Main office. Republic Bldg., Youngstown, O.
N. Y. office, 17 Battery Place.
V. 110, p. 867, 878.
COM.
DIVS .TO. *11. '12.
13*. *14. *15. '10. '17.
1918
1919.
12
1920
6
6
0
12
12
12
12
12
x 12
See
%
0
0
4
0
4
10
11
16
y2
text
x 3% paid in cash and 9% paid in 6% notes (or scrip),
oy Paid in 6%
notes (or scrip).
Jan. 1919 to Apr. 1920, inclusive, paid 3% quar. in cash
on common
and Class B common stock.
Regular %
Extra
..
INDUSTRIAL STOCKS
may, 19.0.)
Bate
Par
Amount
Bale
When
Value
Outstanding
%
Payable
1896
Roch & Pitts Coal & Iron Helvetia purch mon M g sf.Ce.ic*
First mortgage ol 1902 52.000,000 gold red 105 s f.G.xo*
Debentures due 550,000 to $75,000 seml-ann (V 95, p 55)-*
Rogers-Brown IrCo—l8t&RefM58.000,000g red 102 H Ba xo*
Bull & Susq Iron—IstM 53,000,000 g red (text)-_N.xc*&r
Debens 51,500,000 g red 105 since Sept 1910 Col.xo*&r
Royal Baking Powder—Common stock 510,000,000
Preferred (a & d) stock $10,000,000 6% cumulative
...
Safety Car Heating & Lighting—Stock 510,000.000
St Joseph Lead Co—Stock $20,000,000
St Louis Coke & Chemical—-Com stock $1,000,000
—
Pref (a & d) stock 8% cum $10,000,000
St Louis Rocky Mt & Pac Co—Common stock $10,000,000
Preferred stock 5% non-cumulative.
1st mortgage g sinking fund
Mp.xc^Str*
19
1912
1910
500
1902
1906
1,000
1,000
100
100
10
5
100
1.000 &c
Reports for 1917
See V. 108, p. 1394.
1041.
1913.
1914.
,
$8,043,678
$4,729,988
$2,916,564
$2,862,567
Pref. dividends (7%)-—
175,000
175,000
Common dividends.(23%)2,300.000(22)2200,000(16) 1600,000(12)1200 000
*1.662,667
Pres., W. N. Reynolds; V.-P., James A. Gray; Sec., M. E. Motsinger;
Treas., D. Rich.
Office, Winston-Salem, N. C.—(Y. 110, p. 268.)
$5,568,678
$2,354,988
*1.316.564
ROBINS & MEYERS CO.; SPRINGFIELD, OHIO.—(V. 109, p. 987.)
ROCHESTER GAS & ELECTRIC CORP.—(V. 110, p. 771,1193.1856.)
•
ROGERS-BROWN
IRON
CO.—ORGANIZATION.—Incorp.
In
N.
Y.
Dec. 27 1909 and owns 4 blast furnaces at South Buffalo, N.- Y.t leases for
50 years ore lands In Mesaba Range; also leaseholds on ore lands at Iron
River, Mich.
Company mines Its own coal and manufactures its own coke
at Tyler and Sykes. Pa.
Stock auth., $5,000,000
from coal lands leased
common
on
and $2,000,000
7% pref.; of the latter $1,550,000 was outstanding
Dec. 31.1919.
Applications to list, V. 83, p. 101, and V. 85, p. 1524.
"First and Refunding" 5s of 1910 (58,000,000 author¬
secured by a first lien on two new furnaces and a direct
BONDS.—TUe
ized
issue)
are
lien on ail the remaining property,
and by a sinking fund of 25c. ner ton on
upwards of 20,000.000 tons of Iron ore.
Of the issue, $4,216,000 Is out¬
standing, $1,300,000 had been retired up to Dec. 31 1919 and $17,000 had
been purchased and held in treasury on Dec. 31.1919; $500,000 is re¬
served to retire final $500,000 Buffalo & Susq. 5s to be outstanding June 1
1932, $1,500,000 to retire $1,600,000 B. dc S. debentures.
The bonds
will be paid at 102H and Int. Jan. 1 yearly, the rate now beingf$215,000
1913-20. Inch, and $214,000 1921-1940, Inch
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
also at par
for sinking
fund In order of their numbers, beginning at the lowest number,
$100,000 redeemed in June 1907 to 1919, and $17,000 purchased and held in
treasury.
Debentures purchased and held in treasury, $395,000.
V. 82,
p. 220; V. 85, p. 1524.
REPORT.—For cal. year 1918 in V. 108, p. 1615.
Total
Interest,
Income.
Cal. Year—
Deprec.,&c.
$1,738,499
Preferred
Balance,
Common
Dividends.
Dividends.
Surplus.
(7)$108,500
$200,000
$247,057
1918
1,921,188
(7) 108,500
400,000
x241,169
1917
2,039,338
1,403,318
(7) 108.500
400,000
127,520
x After deducting $1,846,885 for provision for income and war profits tax.
Notes payable as of Dec. 31 1919, $1,370,000.
Wm. A. Rogers, Pres.; Hugh Kennedy, 1st V.-Prea. and Gen. Mgr.*
John D. Larkin, 2d V.-Pres.; Wm. 8. Rogers, Sec.; H. T. Clement, Treas,
—{V. 104. p. 1050; V. 105. p. 179; V. 107, p. 1835.)
$2,294,056
4,517,743
—
ROLLS-ROYCE CO. OF
2362.)
AMERICA,
INC.—(V. 109,
p.
1531. 1467-
ROOT & VAN DERVOORT ENGINEERING CO., EAST MOLINE,
ILL.—ORGANIZATION.—Incorp. Oct. 22 1917 in Illinois; a consolidation
Engineering Co. (organ, in 1900) and Moline Auto¬
mobile Co. (organ, in 1904).
Manufactures engines for farm tractors,
automobiles and trucks, &c.
See V. 109, p. 278.
STOCK.—Auth. $5,000,000 8% cum. pref. (a. & d.) stock (par $100)
and $2,500,000 com. (par $100) outstanding, $1,000,000 pref. and $1,187,300 com.
The Root & Van Dervoort Corp. owns entire com. stock.
Pref. stock Is callable at 110 on 30 days' notice.
Annual sink, fund begins
in 1921, 10% of net earnings after pref. divs.
No mtges. without consent
of 2-3 of pref. stock outstanding.
An initial quarterly dividend of $1 per
share is payable on the common stock Jan. 1 1920 to holders of record
Dec. 15.
initial quar. div. of $2 paid Sept. 1 1919. Dec. 1 1919, $2.
Pres., W. H. Van Dervoort, East Moline, 111.—(V. 109, p. 278, 1993.)
L.
jl
1111
,t.,
V|K1ZAW0N.
1 —^
fe6VAL EaKiN6 P6WT>Ek C6.-0ft6AMZATOHr .—a consolida.
tion incorporated in Feb. 1899 under the laws of N. J.
DIVS.—
Common. %
'02 to'05. '06-'09
8 yearly
Extra In Dec.
In 1920:
Mar. 31.
10 y'rly
'10to'13.
*14.'15
12 y'rly
10
....
—
8
2
'16.
8
2
See V. 71, p. 545
'17
8
2
'18.
8
2
*19. '20l
8
See
2
text
2%.
Pres., W. L. Garey; Vice-Pres., A. H. Porter, F. D. Bristley and E. McC.
Peters; Sec., V. C. Gray.
Office, Royal Bldg.. William and Fulton Sts.,
N. Y.—(V.
109,
p.
1898.)
royal DUTCH co.—ORGANIZATION.—Incorp. In The Hague,
Holland, in 1890, with a capital of 1,300,000 florins ($522,600).
Through
its subsidiaries it is now the largest international producer and distributor
of mineral oil and its by-products of Europe.
V. 107, p. 2243.
Started
as a
local enterprise of the Dutch East Indies.
After 1900 developed
rapidly.
In 1902 entered the international field and in conjunction with
the "Shell" Transport & Trading Co. of London (which see) and the de
Rothschild (Paris) group, founded the 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
Petroleum Co.
The "Royal Dutch" holds 60% In these two concerns (the
"Shell" 40%); also
12^4% of the outstanding ordinary "Shell" shares.
The
two interests so combined have since then acquired exclusive or controlling
Interests in important oil fields in Rumania. Russia, Egypt, the United
States (Oklahoma and California), Panama, Venezuela and Mexico.
AMERICAN INTERESTS.—The combination owns a predominating
Interest in the Roxana Petroleum Co. of Oklahoma and the Shell Co. of
California.'
V. 109, p. 377.
The "Roxana" has an issued capital of
$5,000,000 and the "Snell" of $33,535,575.
The "Roxana" owns fields In
the well-known oil districts of Cushing, Healdton and Bartelsville.
There
were
constructed in
1917 134 miles of six-inch
pipe line from Cushing to
Healdton, and in 1918 450 miles of ten-Inch pipe fine from Cushing to St.
Also constructed a large refinery in St. Louis.
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 established, as well as an 8-inch pipe line 170 miles long,
from the field to the refinery.
In Mexico the allied companies, besides
owning other valuable property, controls the Mexican Eagle Oil Co., Ltd.,
whose production in 1918 amounted to 17,390,827 bbls. (V. 109, p. 2444).
Has also established large storage facilities and a refinery of exceptionally
great capacity in Curacao, West Indies, in the immediate proximity of the
Panama Canal.
Louis.
5 g
&
M
5g
text
Dividends are Payable
36 Wall Street, New York
May 1 1946
Aug 1 1932
do
do
N May'20-Nov '28
do
do
J Jan "20-Jan '40 Bankers
Trust Co, N Y
D June 1 1932
New York Trust Co, N Y
&
&
See
Places Where Interest and
Maturity
S Jan
&
Q—M
1 1926
Mar 31 '20.
Columbia Tr Co, N Y
2% Checks mailed
Mar 31 *20. 1M
do
Q—M
See text
Dec 23 '19. 1H By oheck
Q—J
11% '19 Q-M 20 June 21 '20 5
6
8
Q—M
1%
Bankers
1H
do
Co. N
do
do
Trust
Y
do
On Dec. 31 1918 had a fleet of 263,746 tons (1914, 255,965 tons).
The
Russian properties, a reserve has been created, which entirely covers the
which these properties were carried.
amount at
SBLARES.—The com. shares have a par value of Fl.1,000
(say
$402)
each, but the company issues sub-shares of F1.100 (say $40 20) each.
For
trading purposes here, Dutch shares of 100 Florin par value were deposited
with the Equitable Trust Co., N. Y., against which were issued three
This gives a nominal par value of
To issue new stock at par.
V.
certificates for each share deposited.
$13.40 to
eacn
"American certificate."
110, P. 2198.
In U. S. Gold
Outstanding. Authorized.
Capitalization (no funded
In Dutch Guilders
debt or fixed charges)—Outstanding.
Authored.
Fl.
$
$
Fl.
Common shares
213,818,000 370,000,000
85,957,500 148,740,000
4% preferred shares
1,500.000
1,500,000
603,000
603,000
4H% 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 230,000,000 guilders ($92,460,000) to 370,000,000 guilders ($148,740,000). Holders
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
shares 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 1907
50%
DIVIDENDS.—In addition to the cash dividends the company
distributed its surplus by a stock bonus of 200%.
In 1918 paid a
stock dividend.
The cash dividend record (%) is as follows:
*02. '03. *04. *05. '06. '07.
*08-10.
'11. *12. *13.
'14-16. '17. *18.
24
35.85 65
50 *73 27*A 28 yrly.
19
41
48 49 yrly. 38 z48
1920 paid 15%; in Feb. 1920 paid $1.9085 on each "New
In Jan.
and "American
share.
*19.
40
York'
V. 110, p. 567.
*
Plus 200% stock dividend.
Plus 50% stock dividend.
REPORT.—For calendar year 1918 in V. 109, p. 1458; V. 110, p. 559.
NET PROFITS.—Net profit for Dec. 31 1918 was $29,020,000, against
z
^
^
$17,838,000 in 1917; cash on hand, 1918, $26,135,000; 1917, $14,547,000.—
(V. 110, p. 559, 567, 1619, 2082, 2198.)
_
SAFETY CAR HEATING & LIGHTING CO.—ORGANIZATION.—
Incorporated in 1887 In New Jersey.
Manufactures Pintsch light appa¬
ratus, which. Sept 1917, was In use on over 43,000 cars In the United States,
Canada and Mexico; In the world on 165.000 cars and 8,000 locomotives.
Electric lighting systems Installed on over 80 railroads In U. S. and Canada.
_
LATE DIVS.
Cash
In July
_
{'08. '09. '10. 11-T3. '14-'I7.
Dec. '17.
% 19
9
11 9 y'ly. 8p.a. 1H%
1907 a 100% stock dlv. was paid.
REPORT.—i919 in V.
110, p. 2189:
exp.
$1,267,104
(6%)$591,720
& tax. (exc. war tax)
Paid in dividends
Reserved for
war
reserves
Balance
to
(Q«.)
'18.
1919.
6
6
-
_
1919.
Earns., aft.
Other
of Root Van Dervoort
A
and
See text
Q—J
Apr 10 '20.
Mar 31 '20
1,000,000 5 In 1919 q—m
J
&
J July 1 1955
5 g
4.850,000
100
earnings
Balance, surplus
4,216.000
1,683,000
1,105.000
10,000,000
10,000,000
9,862,000
14,094,660
1,000,000
5,000,000
10,000,000
&c
&
K
5
217
Last Dividend
N
&
4*
671,000
100
1905
5 g
$642,000
1,210.200
$1,000
1,000
1.000
1902
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-
Net
BONDS
Bonds
MISCELLANEOUS COMPANIES
fFor abbreviations, &c„ see notes on first page]
REPORT.—For cal. year 1916, in V. 104, p.
1918 and 1919 had not been issued to May 1920.
Calendar Years—
1916.
1915.
AND
_
1917.
1918.
$957,339
$1,124,108
(6)$591,720(7^)$739650
93,000
70,000
368,500
241,473
$131,884
$31,146
305,495
$8,963
175,000
taxes
(depr. & counting, fds.)
surplus
DIRECTORS.—W. L. Conwell (Pres.), Robert Barbour, Chellis A.
Austin, F. F. Fitzpatrick, Alex. C. Soper, H. R. Carse, M. Bulkley, F.
LcB. Gardner, R. Parmly, J. P. Soper, A. B. Hepburn, G. D. Pope and
J. A. Dixon.
N. Y, office, 2 Rector St.—(V. 110, p. 2189.)
ST. JOSEPH LEAD CO.—ORGANIZATION.—Incorp.
in N. Y. State
Owns (a) mineral right on 13,498
lands in Flat River—Leadwood and Doe Run districts,
Mo.; (6) 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).
March 24 1864; charter now perpetual.
acres
of lead-bearing
CAPITAL STOCK.—$20,000,000 auth., par $10; issued to Dec. 311919,
$14,094,660.
Listed on N. Y. Stock Exchange in April 1919 (see full
V. 109, p. 1831).
Annual Dividend Record Since 1891.
1891-92. 1893. 1894. 1895-1912. 1913. 1914. 1915. 1916. 1917. 1918. 1919.
12%yly.
8%
5H% 6%yrly
5% 2H%
6% 10% 25% 20%
11%
Dividends in 1920: Mar. 20, 2M% and 2^% extra; June 21, 2^% and
2y>°7o extra.
BONDS.—Miss. River & Bonne Terre Ry., $2,500,000 1st M. 5s, due
,1931; to Dec. 311919,$385.000 retired by sinking fund and $476,000 owned
by St. Joseph Lead Co.
See Railroads on a preceding page.
statement,
1919.
EARNINGS.—
Income
Depletion,
$2,295,256
1,116,816
117,844
&c
Federal taxes
sur. or
1916.
^
$8,004,649
3,330,182
2,000,000
(11 %)1,550.478(20)2819,004(25)3535,531
Dividends
Balance,
1918.
1917.
$5,121,164 $10,130,459
1,297,281
4,520,186
(10)1409,466
def._def.$489,882def.$995,121 sr$2,074,742 sr$3,265,001
Clinton H. Crane; V.-Pres. & Treas., Hugh N.
& Sales Mgr., Irwin H. Cornell: Sec.. Leonidas H.
109, p. 987; V. 110, p. 771,877, 2199.)
OFFICERS.—Pres.,
Camp Jr.; V.-Pres.
Besson. N. Y. office, 61 B'way.—(V.
In
ST. LOUIS COKE & CHEMICAL CO.—ORGANIZATION.—Incorp.
Nov. 1917.
The company will erect a 500-ton blast furnace and 80
Roberts
By-Products coke ovens adjacent to the Granite City
plant of the
Enameling & 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 Co.'s plant, also the major portion of the
National
by-product tar and gas produced by the coke ovens.
The American Coke
& Chemical Co. owners of the Roberts patents, from whom the St. Louis
gets its license, has agreed not to Issue any other license to other
for the construction, operations, &c., of coke ovens under Its
Louis industrial zone (a circle 50 miles in diameter
with Eads Bridge as centre).
V. 109, p. 781.
STOCK.—The pref. stock is callable at 125.
Of the issued pref. $1,250,was subscribed for by the National Enameling & Stamping Co..
For the
disposition of the com. stock see V. 109, p. 781.
The American Coke de
Chemical will retain a majority of the com. stock.
Clement Studebaker, Pres.; Geo. W. Niedringhaus, Vice-Pres.; Geo. T.
Buckingham, Vice-Pres. & Gen. Mgr.; Scott Brown, Sec. & Treas.—(V.
109, p. 686, 781.)
company
companies
patents within the St.
fit PACIFIC CO.—Company own*
of high-grade bituminous coal lands and coal rights and
mining in 344,837 acres additional, east, west and
southwest of Raton, Colfax County, N. M.
At Brilliant, Van Houten,
Koehler, Gardiner, Sugarite and Swastika has in operation 14 electrically"
ST. LOUIS ROCKY MOUNTAIN
In fee 206,488 acres
surface necessary for
INDUSTRIAL STOCKS AND BONDS.
218
see notes on
Last Dividend
Date
first pagd\
Par
Amount
Rate
When
Bonds
MISCELLANEOUS COMPANIES '
[For abbreviations, Ac.,
Value
Outstanding
%
Payable
$100
Savage Arms Corp—Com auth $10,000,000
First preferred 7% cumulative authorized $500,000-Second preferred 6% non-cum conv $500.000
$7,748,000
100
232,200
Q—M
New
100
See text
See
text
100
Q-F
100
8.000,000 7 In 1919
Q-J
New
None
200,000 sh.
7
100
11,000,000
Q—J 25
J
&
D
6 g
100 &c
11,520,000
:c::
1919
—
Where Interest and
Dividends are Payable
New
None
Sears, Roebuck & Co—Common stock
Preferred stock (a & d) 7% cumulative (text)
Shaffer OH & Refining—Common stock 500,000 shs
Pref stock 7% cumul & partic $50,000,000
1st M Oonv a f (guar) $15,000,000 g call
CoCkxxxc*&r*
Places
Maturity
June 15
Q—M
7 :■•••.
6
and
June 15 *20 1M Franklin Trust Co, N Y
do
'20 1*4
do
June 15 *20 1M
Text
Text
None
100
-----
[Vol. 110.
Checks
text
1
malted
do
1920 l*i
Apr 25 '20 1*4
N Y & Chicago
June 1 1929
Jan 20
Q—J
3,500,000
10
See
Apr
20, 2 M
I
.1.-
.
coal mines of
_
a present
producing capacity
10.000 tons
of about
of
coal
daily;
In operation at Gardiner and Koehler coke ovens of
350.000 tons anmial producing capacity
All of the securities of the St. Louis Rocky Mountain & Pacific Railway
previously owned were acquirod 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. $2,378,000 have been
exchanged for St. L. R. M. & Pac. 1st 5s. reducing the latter by that arnt..
and the remaining $613,000 substituted for the St. L. R. M. & P. Ry-
bonds
formerly held under the Hen of the St. L. R. M. & Pac. Oo. 1st M.
bonds.
The latter (of which the mortgage trustee still held $604,000 in
Dec. 1918) may be sold and the proceeds sold for sinking fund purposes or
also exchanged for bonds under the mortgage of 1905.
A supplemental mortgage has been made by this company providing that
further bonds of 1905 shall be Issuable except not to exceed $1,000,000
(all held In treasury in Dec. 1918.
V. 105, p. 1536) to develop and Im¬
prove the coal property and increase the sinking fund to 3c. per ton of coal
no
mined
yearly.
V. 97. p. 366. 445, 803. 1824; V. 100, p. 1169. 1593.
1536; V. 109, p. 69.
V. 105, p.
STOCK.—Pref.
$1,000,000;
mon
(as
common,
to
divs.), 5% non-cum., non-voting
Stockholders owning 88% of the com¬
voting trust for five
a
years
from Dec. 15 1915
Charles
with
Springer, Hugo A. Koehler, J. van Houten, Margaret M.
Dobyne and Thomas B. Ilarlan as voting trustees and Metropolitan Trust
Co., N. Y.. depositary and transfer agent for stock trust certificates
Bankers Trust Co., N. Y„ registrar.
V.105. p. 2370.
V. 95, p. 1332.
DIVIDENDS.—Cm pref., Aug. 31
man,
Detroit; W. G. Souders, New York.
.
.
.
_
,
,,
,
«
,
InfrDec. 1918 paid 2%
,
„
,
v
,
guar.
lAlj
_
|
X
/0
ann'
1912 to Mar. 31 1920, 5% per
*
vv!)«
i
/2
/O
**
*
*
vD
VvM«
SCHULTE RETAIL STORES CORP.—V. 109, p. 1085.
SCRIPPS-BOOTH CORP.. N. Y. (AUTOMOBILES).—(V. 103.
1046. 1123; V. 104. p. 1391; V. 105, p. 915, 1110. 1715, 2370 2461.)
_April 1919 to Aprn 1920, 1% quar.
HO^p* 2199:
Other
Interest, Dividends Balance.
Income. Depr.Ac.
Earnings.
Taxes).
Paid.
Surplus.
$3, <>37,353
$*>49,298
$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
162,408
923,613
372,906
350,000
363.115
Pres., J. Van Houten.-HV. 107, p. 1385 1843 2382; V .109, p. 69)
Gross
Nit (after
1919.
,
STOCK.—Preferred stock cannot be Increased or mortgage (other than
purchase money mortgage) created without the vote of three-fourths of
Entire preferred stock or pro rata portion may be re¬
deemed at 125.
V. 84. p. 1246.
In Nov. 1909 $750,000 pref. stock was canceled, $2,000,000 In all (orlg na
issue $10 OOO.OWi having been retired
v
89
o
925. 12*6; V. 90. p
714
The shareholders will vote June 1 1920 on increasing the auth. common
stock, now $75,000,000, to $105,000,000, in connection witn 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.
To pay this dlv. will increase the outstanding com. stock to $105,000,000.
DIVIDENDS.—Pref.. 1*4% quar., paid Oct
ipoo to Apr. 1920. both
On com.. 1909
4H%; 1910 to Feb. 1917, 7% {1*4% Q -F.);May,
May 1920, 2% quar. Also April 1 1911 a 33 1-3% stock dividend.
V. 92,
p. 601.
A stock dlv. of 50% was paid April 1 1915.
V. 100, p. 479.
In April 1917 paid a stock dlv. of 25%, increasing the outstanding common
stock to $75,000,000. V. 104, p. 368, 868, 1050.
C-roposed payment of
40%, stock div. in July 1920, see under "Capital Stock" above.
,
Sales—
April.
__$21.824,141
19,183,881
1920
1910
REPORT.—Report for
Cal.
ST. PAUL GAS LIGHT CO.—V. 106, p. 2763.
LIGHT & P. CORP.—See "Electric Ry. Section."
SAPULPA REFINING CO.—(V. 109, p. 179, 476,1185; V. 110, p.
1649)
SAVAGE
ARMS CORPORATION—ORGANIZATION.—Incorp. in
Aug. 16 1915 as Driggs-Seabury Ordnance Corp., and purchased the
assets of the Driggs-Seabury Co., and In Dec. 1915 the
Savage Arms Co.
of Utica, -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¬
guns, pistols, ammunition and roller bearings, automobile truck axles, in¬
cluding a double reduction type of rear axle, truck and pleasure car 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 condi¬
tions, V. 108, p. 84, 177.
Del.
Jan.
1919
a
stockholders'
protective committee, William Hamlin
Childs, of N. Y., Chairman, and Charles H. Studin, 55 Liberty St., N. Y.,
counsel, sought a capital distribution, but the company pronounced this
"Impossible at the present time."
See V. 108, p. 386, 376, 486, 983.
DIVIDENDS.—On
common:
In
1916.
Mar.
15, 2H%:
June
then
15,
none till June 15 1917 to June 15
1920, 6% p. a. (1H% Q.-M.).
Jan. 15 and Apr. 30 1920 extra divs. of
5% each were paid. V. 110. p.
Preferred dividends are regularly
paid.
V. 109,
p.
5%
On
472.
278.
ending Dec. 31 1919 in V. 110, p. 558.
Pf. Div.
Common
Fed. Inc.,
Balance,
(7%).
Dividends
&t..Taz.
Surplus.
Net
Income.
Profits.
$
$
$
$
$
$
1919-234.242,337 23.760,502 559,188
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
1917-166,106,460 18,097,326 559,188 (7^)5,549,009 3,977,398
8.011,731
OFFICERS.—Pres., Julius Rosenwald; V.-P. & Treas., Albert II. Loeb;
Sec., John Higgins.—(Y. 110, p. 558, 1532, 1754, 1978, 2082.)
Total
Earnings.
1919—.$2,032,122
Z,8$H21
1917—
5,227,749
Interest Fed. Tax &c
Paid.
Reserve.
Pref.
Divs.
Common
Dividends.
Balance,
Surplus.
$1,030,904
$519,698
$15,740
(6)$465,780
$24'397 6,460,238
38,211
(6)498,840
837,435
61,550.(4^)397,598
1,035,971
63.630
3,669,000
OFFICERS.—Pres., W. L. Wright; Treas., Nat Tyler Jr.; Sec., J. H.
1754W) Y°rk*
SHAFFER OIL &
REFINING CO.—ORGANIZATION.—Incorp.
N' Y' office- 60 Ctmrch St.—(V. 110,
p. 472, 665,
in
Del. May 31 1919 and acquired the oil interests of O. B. Shaffer, also the
State Lands Oil Co.
Owns approximately 127,847 acres of leases, with
391 producing wells.
The oil lands comprise four general groups located
respectively in the Cushing field, Shamrock and Okmulgee fields of Okla.,
the Butler County district of Kansas and acreage in Texas.
Net produc¬
tion for cal. year 1918 over 1,500,000 bbls.
The producing properties
aggregate about 6,789 acres.
Has 52 miles of main pipe lines and over 100
miles of gathering lines.
Located at the refinery is a farm of 25 steel tanks
of 1,375,000 bbls.
Owns 508 steel tank cars.
STOCK.—The Standard Gas & Electric Co.
owns
110,000 shares of the
common stock and
$1,000,000 of the pref. stock, which is deposited as
part collateral for Standard Gas & El. 7% notes of 1919.
The pref. stock
is entitled
to cumulative divs, at the rate of 7% p. a. and will participate
ratably with the common stock up to 10% p. a.
In addition, will partici¬
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. V. 108, p. 2246, 2636.
DIVIDENDS.—An initial dividend of 1 *4 % was paid on the pref. stock
Oct. 25 1919. Y. 109, p. 1085.
Jan. 26 and Apr. 25 1920, 1*4%.
BONDS.—(V. 108, p. 2246) Auth., $15,000,000; additional bonds may
be issued for 75% of additions, betterments, &c., under carefully guarded
restrictions.
Guaranteed, p., i. & s. f., by Standard Gas & Elec. Co.
Callable in whole or in part for the sink, fund on 4
int. for the first five years, 102H and int. for the
REPORT.'—For 1919 shows:
1082
Four Mos.
$106,995,130
71,500,975
on
CAPITAL STOCK.—(As of Doc. 31 1919) 1st pref., issued, $500,000, al
of which held in treasury; 2d pref., issued, $260,700, of which $28,500 held
in treasury; common, issued, $9,239,300. of which
$1,491,300 held in treas'y.
In
I
year
Total
Year.
SAN FRANCISCO OAS & ELECTRIC CO.—See "Electric Railway See.
SAN JOAQUIN
p.
.
SEARS, ROEBUCK & CO.—ORGANIZATION.—Incorporated In New
York
June 16
1906.
Conducts retail mall order business In
Chicago.
V. 83, p. 629, 41.
Statement to New York Stock Exchange, showing prop¬
erties owned, rights of stock, &o.
V. 84, p. 1246; V. 90. p. 240.
1917 to
X <7-
REPORT^For VeafifilO" iif V *
Dec. 31.
Year—
Main office, 917 Beaufait St.
Detroit.
Incl.
.
interest
OFFICERS.—Pres., Benj. Gotfredson; V. -P. & Treas.,C. A. Pfeffer
V.-Pres., Henry A. Bill; Sec., D. C. Boyne.
Directors.—Benj. Gotfredson,
C. A. Pfeffer, D. C. Boyne, C. W. Dickerson, W. R. Angell, M. H. Cole¬
each class of stock.
and
assets
$10,000,000.
stock have established
1753;
$73,320; other expenses, $21,869; net operating loss, $42,500;
deferred obligations, $99,657; liquidation loss, $142,157.
come,
weeks' notice at 103 and
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. Shaffer oil interests, &c.
Sink, fund payable semi-ann. to
the trustee equal to the following percentages on $12,000,000 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 W% s.-a.; Dec. 1 1923
to June 1 1925, 5% s.-a.; Dec. 1 1925 to June 1 1927, 5M% 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.
All bonds purchased or redeemed will be
canceled.
SAXON
MOTOR CAR CORP.—A reorganization, as of Nov. 5 1919,
Motor Car Corp., incorporated in 1915.
In June 1917 the
company found itself unable to meet its current obligations and a meeting
of the Saxon
of creditors
called and
creditors' advisory committee of six was organ¬
ized to protect the creditors' interest.
Since that time the company, untie was
a
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
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 uses.
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.
no par
f
CAPITAL STOCK.—See reorganization plan, above.
Preferred stock is
redeemable at 105 and accrued dividends.
Sinking fund fo 15% of net
profitsfcommences in 1923.?
.
fEARNINGS.—Income
Oct. 31
and
EARNINGS.—Earnings for the 12 mos. ending Mar. 31 1920, before de¬
ducting for Federal taxes, were as follows: Gross earnings, $10,005,118;
operating expenses, $6,370,959; net earnings, $3,634,158.
(Reported by
H. M. Byllesby & Co.)
Vice-Pros., A. S. Huey, Chicago.—(V. 110, p. 1754, 1856.)
SHATTUCK-ARIZONA
COPPER
CO.—ORGANIZATION.—In¬
corporated Mar. 22 1 904 In Minnesota.
Properties (owned In fee) comprise
109 acres In Cochise County, Ariz.
Producing copper at the rate of 18.000.000 lbs. per annum.
Flotation license. V. 105. p. 1215.
CAPITALIZATION.—Authorized
Per
10
'12.
'13.
'14.
15
15
0
extra.
In Jan.
and
outstanding.
'15.
20
5
*16.
20
27 ^
1920. 2^%; Apr. 1920, div. passed.
1920 (3 mos.)
191^.
Calendar Years—
Gross income
Expenses, &c-_____ _
J?6Q6T3il tflXCS
Depletion &
Dividends
x
x
$3,500,000;
par.
preferred stock.
cent
do
in^liquidatlon.'"10,fmonths,"ended
or
DIVIDENDS—'11.
1919: Sales income, $3,464,493; cost of sales, $3,558,444; other in¬
expenses
No bonds
$10.
depreciation
$445,002
370,236
X
19,926
'17.
*19.
'18.
.20.
text
20
10
10
30
10
2 y2
i
1017.
19*8.
$1,600,608 / $2,668,0*2
x*.0*1,5911
1,883,424
$3,652,155
2,174,656
X
164.606'
541.191
763,859
(7^)262,500 (12 H)437500 (17M)612500
Balance, surplus
$55,740
*$448,999
*$294,033
No allowance ts made for Federal taxes in 1919.
* Deficit.
$101,141
f KALAMAZOO
WEST POINT
CHlCAGl
AURORA
•
XH1CAG
fc^^ORMONDE
I
OKRUR.Pfl.'t
•
,H,UV^UPt
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ll L L I
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MEMPHIS
ARKA|
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buKsv?k$tS^
SULPHUR
A
I
LITTLE
^NTLEIS
«
.ATLANTA
MAP
«V
A\
SAVANNAH^
0
gj-HOM
«
R
3
PUMP STATIONS
I
OF
Sinclair Co nsolidated Oil
HOUSTciW&
oamon
Momh
PIPE LINES
REFINERIES AND
DISTRIBUTING STATIONS
ALBANY
maoisonvji
1-VfTDNIO^
OF
OIL PROPERTIES
JHOM
FORT WORTH
a
A
Corporation
LEGEND
SINCLAIR
PIPE LINES
——
<$>
Refineries—
Compounding Plants-Export Stations-
*
Bulk Fuel Oil Stations,
SALTIUjP
Bulk Fuel Oil Stations,
-+
Completed
Building
Distributing Stations——
Pumping Stations--
.
—
-fc
——
•
--—-0
(Tributary to Pipe Lines, or in which are
Company Properties)
OIL
MCTOR|*°V
FIELDS
-
CONCESSIONS IN
COSTA RICA AND PANAMA
U18 POTOSJ
~
—
PAHUCO
DISTRICT
•C\ENFUEG(
'(VINAS TERMINAL)
CU4NAJUATD
Scale In Miles
220
INDUSTRIAL STOCKS AND BONDS
MISCELLANEOUS
[For abbreviations, Ac.,
COMPANIES
see notes on
Date
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 5 fd Ser A
Perpetual Consolidated Mortgage debenture stock
Shell Transport & Trading—Common stock £20,000,000-Preferred shares 5% cum £3,000,000
Sinclair Consolidated Oil—Stock 5,500,000 shares
New preferred stock—See text
Secured convertible notes $75,000,000 auth red text.xxxc*
Bonds and equipment trusts—see text
Par
Amount
Rate
When
Bonds
first page]
Value
Outstanding
%
Payable
$100 $20,000,000 7 In 1919
1904
50O &c
1919
100 &c
3.877,000
5,476,261
g J
J
4H
text
5A
See text
1907
£1
£12,095,904
£10
£2,000,000
None
1920
100
&
c
A
5
See text
Last Dividend
and
D Jan
&
Places Where Interest and
Dividends
&
N
1 1934
D
do
;' K';'
•
V
v777:
7
v -;
Feb 3
1920
74c
"&~D
See text
7XA S
M & N15
May 15 1925
■''
'•
'
.•
••
:7."
Production—
,!
.
'
•
■■
■
Cop-per {lbs.)
7,7
•'
Lead {lbs.)
"7
r
'''
'
."7'
7;
•■7.7
'
/;7
/•
Silver {ot.)
Gold
1
(ot.)
1918.
$
Cal. Years—
April
:
'
r.;.
•
"
'
do
Perpetual
;!
•„
Payable
are
Y,~Lond~o"n"4 Montreal
J Jan. 1 1950
A
Text
50,000.000
Maturity
Q—J 10 Apr 10 1920 1H
J
5 g
[Vol. 110.
1920
1919
214,122
750.049
29,063
448.04
April
None
57,360
None
None
4 months 1920
,•
1,216,414
2,670,788
107,723
1,604.89
4 months 1919
1,000,844
736,274
44,129
160-06
OFFICERS.—Pres., Thomas Bardon; V.-Pres., H. L. Mundy; V.-P. &
Sec., Norman E. La Mond; Treas., A. M. Chisholm.
Offices, 120 Broad¬
way, N. Y., and Bisbee, Ariz.—(V. 110, p. 1296, 1420, 1532, 2083, 2199.)
—
SNAWINIOAN WATER & POWER CO.— {See Map.)—Incorp. In 1898
Quebec.
Owns hydro-elertrfc plants, with present capacity of 150.000
h.p. at Sbawinigan Falls and at the Laurentide Power Co., Ltd.
Serves
with its 800 miles of 100,000 and 50,000-volt transmission lines Montreal,
In
1917.
1918.
$
$
1917.
$
Total
income—2,893,602 2,774,630 Previous surplus 1,239,032
450,384
Expenses, &c.._
40,659
136,572 Total surplus...4,091,975 3,088,442
Balance...
2,852,943 2,638,058 Dividends, &c.*2,955,098 1,849,410
Surplus.
al, 136,877 1.239,032
*
Includes £41,172 transferred to reserve account.
a Subject to pro¬
vision or excess profits duty.—(V. 110, p. 268, 1649, 1754.)
SIERRA & SAN FRANCISCO POWER CO.—See"Electric Ry" SectionSIMMS
1Q1Q
(V
MAGNETO
mo
n
CO.—Listed
on
Boston
Stock
Exchange in Nov'
1808
SIMMONS CO..KENOSHA
WIS.—V. 108, p. 2130.
towns in the Province of
Quebec, Three Rivers, Sherbrooke, Thetford Mines and 40 smaller cities and
Quebec.
Has also developed a large demand for
SINCLAIR CONSOLIDATED
OIL
CORP.—{See Map.)ORGANI¬
ZATION.—Incorp. in New York Sept. 23 1919 as a holding company.
Eower among the industrial plants adjacent to its Auxiliary companies, with
aurentide Power Co., Ltd.
property. Contract &c.,
V. 103, p. 1035.
statements in
V.
a
106, p. 303.
The completion of the La Loutre dam by the Province of Quebec, It is
stated, assures the company for the future a steady flow of water the year
around, and therefore a 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
Province attractive to the manufacturer by moderate taxes and fair,
liberal treatment.
Compare V. 106, p. 938.
the
DIVIDENDS.—f'07. *08. *09. *10. '11. *12. *13. '14.'15.
\ 2
4
4
4
5
5H
6
6
6H
16. to 'Apr.'20
Percent
7(l^quar.)
BONDS, &c.—First consol. 5s ($5,000,000), all issued but $1,123,000
in treasury and sinking fund (V. 79, p. 274.)
$486 65 of bonds for each £100 of debenture stock, to make the exchange
effective for the entire issue as of Dec. 1 1919. V. 109, p. 893, 1467.
The $50,000,000 First A 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 5^%
chiefly to refund forthwith
$5,476,261
Perpetual Consol. Debenture
stock, $6,000,000; (&) 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,-
000 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.
Redeemable at a premium of 10% prior to Jan. 1 1930;
5% thereafter and prior to Jan. 1
Jan.
1
1940; and 3% thereafter and prior to
1950.
STOCKS OWNED.—Also controls various sub. mfg. and
distributing
cos,
REPORT.—For cal. year 1919, in full, in V. 110, p. 867:
Calendar Years—1
1919.
Gross
earns, (all sources)
$3,727,045
earnings
2,430,857
Interest charges
657,114
Reserve for depreciation*
300,000
Dividends
l-.
1,240,902
Net
Balance, surplus
$232,841
1918.
1917.
$3,621,074
2,335,053
824,959
1916.
$2,902,210
2,149,368
1,077,527
698,503
100,000
1,050,000
$332,567
$2,325,873
1,897,945
544,209
$300,864
100,000
989,006
$364,730
Chairman, Thos. McDougall; Pres., J. E. Aldred; V.-Ps., Howard MrSmith; Treas., W. S. Hart; Sec., James Wilson.
Office,
Montreal.—(V. 109. p. 584, 893,1467; V. 110, p. 867, 880.)
ray and Julian C.
Power Bldg.,
SHELL
TRANSPORT
&
TRADING
CO.—ORGANIZATION.—in-
coroorated in London in 1897 as successor of M. Samuel & Co. in London
and some other important oil houses; wholesalers and
transporters of petroand some other important oil houses;
wholesalers, distributors and trans¬
porters of petroleum products, owning a large number of tank steamers and
40 large and more than 300 small tank
installations, including can factories,
&c., in all parts of the world, with a total capacity of about 400,000 tons.
Also produced oil itself in
Borneo, through the Nederlandsch-Indische Industrie
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
Royal Dutch Co. (see statement above) and the de Rothschild (Paris)
organized the Asiatic Petroleum Co. as a distributing concern.
Early m 1907 the company amalgamated its interests with those of the
the
group,
Royal Dutch. '
The combined assets of both
turned over to two
were
companies, the "Bataafsche Petroleum Co." and the "Anglo-Saxon
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.)
'
new
Petroleum Co."
•
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, ordinary, £12,095,904; 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 announced
in
Apr. 1920 that it was proposed to issue new ordinary shares at par to the
shareholders^in^July in the proportion of one new share for
ORDINARY
f 1908.
DIVIDENDS
I 20%^ 22 A %
1909.
1910.
1911.
1912.
2220%
30%
every two held.
1913
liminary dividend every
earnings—in July thereafter.
upon
Valuable Subscription Rights—Amount and Price
of New Stock Offered Holders.
1907.
1909.
1912.
1913.
1917.
1919.
shares..200,000 300,000 200,000 508,773 367,964 915,717 4.054,49
£2H
£1H
£2M
£3 U
£3A
£1
£1
p"ce
In 1918 the company distributed a stock bonus
shareholders 3,014,921 shares gratuitously,
of 60% by issuing to
applying in payment thereof
£3,014,921 of the company's surplus of £4,000,000.
Holders of shares of
Company of record on June 17 1919 were offered the right to sub¬
scribe at par (£1) for one new share for
every two held.
the Shell
Sept. 22 1919 (V. 109,
p. 1279).
PROPERTIES.—(1) Crude Oil and Gas Interests.—Through subsidiaries
{a) Sinclair Oil & 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 and Louisiana.
In April 1920 had 1,860 producing wells.
Also owns about 150,000 acres
of oil and gas leases in Mexico, having a potential production of 100.000
barrels daily.
Has an interest in Mexican Seaboard Oil Co., owning about
160,000 acres in Mexico.
In Costa Rica, has concession of 9,000,000 acres
of possible oil lands and in Panama about 10.000,000 acres.
Also has an
interest in Companlia de Petroleo de Angola,
having a concession on about
75,600 sq. miles in Angola, Africa.
(2) Pipe Line Transportation.—Owns about 2,800 miles of trunk and
gathering pipe lines, extending from producing fields in Northern Texas,
Oklahoma and Kansas to refineries.
Has more than $30,000,000 invested
in pipe line system.
(3) Refineries.—Owns 10 oil refineries with a capacity in excess of 45,000
barrels daily, located at East Chicago, Kansas City, Chanute, Coffeyville,
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 45.000
gallons of gasolene daily.
(4) Tank Cars.—Owns 4,234 steel tankers.
(5) Coal Fields.—Owns 12,000 acres of coal lands in southern Illinois.
(6) Distribution.—Has more than 400 service and tank stations and
facilities for direct distribution in a number of important western 8tates.
Also has large bulk oil terminal facilities in Rhode Island, New York, Phila¬
delphia, Jacksonville, New Orleans and in Cuba.
(7) Marine Equipment.—Owns and controls 154,588 d. w. tons of marine
equipment, of which a considerable proportion is exclusively owned.
(8) Miscellaneous.—Through its exporting subsidiary conducts a large
export business in petroleum products and also owns a one-half interest m
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 Co., was
chartered in Dec. 1919, with a capital of $5,000,000, all owned, it is under¬
stood, by the parent company.
STOCK.—Authorized, 5,500,000 shares, no par value; issued, 3,756,584
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
7A% convertible notes, &c., all as per statement in V. 110, p. 1857.
BONDS AND EQUIPMENT TRUSTS.—The subsidiary companies had
purchase money mortgages and equipment trust certfs. outstanding in
April 1920 as follows: Equipment trust notes, $885,764; purchase money
mortgages, $3,302,742.
Notes.—The secured 7A% convertible notes are redeemable as a whole
or 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 M 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
8<tt3»ch6(i
Consolidated Earnings Statement of the Company and its Subsidiaries.
35% yearly.
paid 74c. per share in Feb. 1920.
dividends free of the British, income tax, a pre¬
year in January, and its finaldividend—dependent
1900.
of Sinclair Oil & Refining Corp., Sinclair Gulf Corp. (see
April 1919 issue) and Sinclair Consolidated Oil Corp., under
consolidation agreement ratified by the stockholders of each company on
to 1919.
On "American shares"
The company pays its
No.
Consolidation
Year—
Net Earnings
Interest A
{after Fed. taxes.)
discount. Deprec., Ac.
$21,890,898
$2,289,662 $10,010,772
19,640,717
2,948,518
10,150,175
15.134,967
1,942,680
8,153,504
Surplus
$9,590,464
6,542,024
1917
5,038,783
Stock Dividends.—The directors have declared stock dividends of 2%
quarterly, payable during 12 mos. beginning April 1 1920 at rate of 2 shares
of no par value common each quarter for each 100 shares of common out¬
standing at end of quarter preceding.
DIRECTORS—H. F. Sinclair (Pres.), E. H. Clark, A. H. Wiggin,
Daniel C. Jackling, William Boyce
Thompson, Harry Payne Whitney,
William E. Corey, A. E. Watts (V.-P.), Joseph M. Cudahy (V.-P.), M. L.
Requa (V.-P.), Frank Steinhart, E. W. Sinclair, William P. Phillips,
Samuel L. Fuller, J. Fletcher Farrell (V.-P. & Treas.), George W Davison,
R. T. Wilson.
N. Y. office, 120 Broadway.—(V. 110, p. <71,r877. 1744,
1754, 1857, 2199.)
1919
1918
(T)
co
Q
55
O
CQ
Q
£
CO
o
O
H
CO
J
>—H
03
&
D
Q
0
(M
01
<1
Par
Amount
Rate
When
Value
Outstanding
%
Payable
Hlnxer 'Sewitie Machine) Manufacturing—Stock $60,000,000
Sloss-Sheffield Steel & Iron—Common stock $10,000,000—
Preferrcd (a Ad) 7% non-cum $10,000 000..
Sink fd gold notes $6,000,000 call 105 s f„Ce.ww.c*Ar*
Solar Refining Co—Stock J2.000.000
$100' $50,000,000
100
Ref M of 1917 $133,000,000. Series of 1919, call
(text)
HC.xxxxc*Ar
Deben $8,000,000 due$1,000,000 yrly call (text) Bu.xxxxc*
Underlying Divisional Bond Issues.—
Edison Eleotrlo of Los Angeles first mortgage
z
United Eleotrlo Gas A Power first mortgage sink fund-.xxx
Edison Eleo of Los Ang 1st A Ref M g s I red 110- U sm.-zc*
Guaranteed bonds—See text
So Gal Ed General mortgage gold redeemable at 105--xxx
Pao Lt & P Co 1st M call 110xxxc*
8an Gabriel Electric Co 1st M call at 104 and interest
z
Pac Lt & P Corp 1st A Ref M call at 105
Usm.xxx
Ventura County Power Co 1st M sk fd call 101
z
Mayi0 20,lX%
Apr 1 1920 1%
F
A
A Aug 1 1929
6 g
See
text J
&1 D June 20 20 10%
Mar 31 1920 R%
See
text
Q—M
See
text
Apr 1 1920
»%
8 In 1919
'%
Apr 11920
20 500.000
6 g
F
100 Ac
8,000,000
7 g
J
1,000
1.000
1,000
390.000
15,000
2,708.000
1,000
1,000
13,360,000
6,679,000
241.000
7,427.000
646,000
500 Ac
1911
100
0
8:
7
ln°l§19
See
J
•
1917
1919
1899
1900
1902
I
do
New York
Checks mailed
Pittsburgh, Pa.
Checks mailed
do
do
Trust Co.
do
V
do
Mar 15 1920
Q—M
5
N
Los Ang
Apr 15 1920 1H
J
text
YN
Co,
do
May 15 1920 l'A General office.
Gen A
-
Central Union
Bankers
1 1941
J Jan
&
Where Interest and
Dividends are Payr bl 1
Q—J
100 See
100
100
100
100
Places
New York
—F
7 la 1919
Dividend
and Maturity
See text
—M
text
6 in 1919
100
100
1,000
1919
-
South Bell Tel A T—1st M red 105 beg 19Itt s t Ba xxo'Ar*
Southern California Edison Co—Common stock $83,500,000Pref 5% and participating cumulative $4,000,000
2d pref 5% cum stock non-participating $12,500.000
See
10,000,000
6,700,000
6,000,000
2,000,000
20,000,000
5,602,800
5.000,000
10.910.000
10,288,172
4,000,000
12,029.900
100
South Penn Oil Co—Stock $20,000.000
South Porto Rico Sugar Co—Common stock $6,000,000
Preferred stock fa A d) 8% cum $5.000,000
t
Last
Date
Bonds
COMPANIES
MISCELLANEOUS
[For abbreviations, <fcc., see notes on first page]
■
[Vol. 110.
INDUSTRIAL STOCKS AND BONDS
222
do
do
1H
N Y, Chic A Los Angeles.
& J 15 Jan 15'21 to'28 N Y and Los Angeles
A Feb
*
1
1944
5
MAS Sept 1 1929
Title Ins A TrCo.LA ANY
5
J
A
1 1920
Cit Tr A 8s Bk.LA, N Y
5 K
M
A
1 1922
Harris, For bes ACo, N Y
5 g
J
A
D
Deo
S Sept
-
•
1909
1902
1898
1911
1906
1.000
(THE) SINGER. (SEWING MACHINE) MFO. CO.—OKGANFZAr
TION.—Incorp. in 1873 in New Jersey under special Act. Plants located at
Elizabeth, N. J.; Kllbowle, near Glasgow; St. John, Que., Ao. V. 83, p .276
Stock Increased In 1900 by 200% stock dividend and In 1910 by 100%
stock dividend, capitalizing surplus. V. 71, p. 1224, 1273; V. 90, p 1494.
DIVS.-f '09. '10. '11. *12. '13, '14. '15. '16.
1917.
1918
1908
\ 30
19
12
13
16
12
8
9
10A1(R.O.) 2HQU
In July 1917 was paid an extra dividend of $12 per share by the dis¬
tribution at the price of $4 80 per share, at which It was acquired out of
surplus Aug. 27 1907. 1,500,000 of the 2,000.000 £1 shares of the Singer
Mfg. Co., Ltd., of Great Britain & Ireland (owning plant at Clydebank.
Scotland, in the proportion of 2M 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.
Pres., Douglas Alexander; V.-P., P. A. Park.
Office. 149 Broadway
N. Y.—(V. 102. p. 1254: V. 105, p. 395; V. 106, p. 507. 1229, 1349.)
LATE
Hidoc
SLOSS-SHEFFIELD STEEL & IRON CO.—ORGANIZATION.—In¬
corporated 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 the best known seams of coal in Alabama, daily capacity of
6,500 to 7,000 tons ;5 red ore mines, dally 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 dally; 1 dolomite quarry, with capacity of 700 tons of stone
dally.
As to by-product coke ovens, see gold notes below.
1 5
I 7
Preferred
'20.
106. '07. '08. '09. '10.'11-'14. '15-'16. '17. '18. '19.
LATE D1V8
5H
7
3H None None
1H
text 61^1>47
7yly Below 7(Q-1*4)
5H
7
4H
7
The pref. dividend was paid In
distribution April or July 1915,
Jan. and Oct. 1915 In 1-year 6% scrip; no
but in Jan. 1916 all the dividend scrip
(3*4%) was'redeemed and there was paid In cash \ M% and also an extra
1 H% as deferred dividend for 1915; April 1916 to Apr. 1920, lncl., paid full
1 H% quar.
Common divs. Feb .1917, 1H%. then none till 1918, when
5uarterlyand Nov. 11, 1)4%; iu 1918, Feb. to Nov. lncl., paid 1H% quar.
distributions of 1)4% each were resumed, beginning May 10.
10
mg.
div. on common shares earned but deferred in
payable July 1. V. 106, p. 2565, 1800; V. 104, p.
In June 1918 the 6%
1917
declared
was
1596, 1904.
In 1905 common shareholders received 5% in cash and 33 1-3% In stock.
gold notes of 1919 have an annual
sinking fund of $300,000 beginning Aug. I 1920.
While they are outstand¬
ing the property cannot be mortgaged.
The proceeds are to be used for
erection of by product coke ovens, electrification of the mines, Ac., and
$2,060,000 were deposited in escrow to retire the $2,000,000 1st 6s due
Feb. 1920. V. 109, p. 378.
GOLD NOTES, Ac.—The $6,000,000
REPORT.—For 1919, in V. 110, p. 1639, 1762.
Calendar Years—
1919.
1918.
Operating profits
$6,195,527
$3,276,197
showed:
xl9l7.
$3,370,614
yl916.
$2,230,000
*2,502,959
142,500
Coke oven loss
239,325
Interest
227,500
259.158
665,741
Depreciation & depletion
502,213
577,997
Federal & State taxes—
420,000
1,000,000
325,000
Preferred dividends.-(7%)469,000
7)469,000(8^)573,881
Common dividends
(6)600,000(10M) 1050,000 (1)4)148,869
_
——
Balance, surplus
Profit and loss, surplus♦Loss
due to
$453,071
6,227,543
$1,025,826
7,088,267
$1,429,623
5,741,314
war-time construction of by-product
y Year ended Nov. 30.
Chairman, Waddill Catchlngs;
(7)469,000
$1,521,67.5
4.465,070
coke ovens,
x
13
months,
Pres., J. W. McQueen; Sec. & Treas.,
109, p. 179, 378, 585, 1615, 1993;
Russell Hunt, Birmingham, Ala.—(V.
V. 110, p. 1095, 1639, 1762.)
(A. O.)
SMITH CORPORATION.—(V. 109, p. 1279.)
SOLAR REFINING CO.—ORGANIZATION, Ao.—Incorporated In Ohio
In 1886.
Has refining plant at Lima. O.
Formerly controlled by Standar
Oil Go. of N. J., but segregated In 1911.
See Standard OH Co., V. 85, p.
216. 790; V 93, p. 1390.
The stockholders on June 16 1913 voted to in¬
crease the stock from $500,000
to $2,000,000. the new stock being dis¬
tributed as a 300% Btock dividend.
V. 96, p. 1493. 1777.
On Dec. 20
1912 20% dlv. was paid; June 20 1913, 20%; Dec. 20, 5% and 30% extra
from June 1914 to June 1917, 10% (5% s.-a.); Dec. 1917, 5% A 25% extra:
$600,000; bal., sur., $2,761,999; total profit & loss, surplus, Dec. 3l 1919,
$4,413,991.
Pres., J. G. Neubauer; 1st V.-P., F. T. Cuthbert; 2d V.-P, A
Treas., F. G. Borges; Sec., N. D. Keys.
Office, Lima, O.—(V. 109, p.
1898;
V., 110, p. 1194, 2199.) '■
SOUTH AMERICAN GOLD & PLATNIMUM
CO.—(V. 109,
p.
79.)
SOUTH
PENN OIL CO.—ORGANIZATION.
AC.—Incorporated In
Pennsylvania In 1889
Produces crude oil.
Early in 1913 acquired 51 %
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,
In Aug. 1917 purchased for about $3,500,000 the holdings of the Big
Creek Development Co. in Lincoln County, W. Va., some 6,000 acres, on
which are 500 oil and gas wells with a net settled production of about
900 barrels daily. V . 105. p. 613, 722.
'
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,
p. 1390.
The shareholders voted Feb. 14 1917 to Increase the author¬
ized capital stock from $12,500,000 to $20,000,000 In order to pay a stock
dlv. of 60% to shareholders of record Feb. 14. V.103.p.2244; V.104,p.769.
of
.
1913
11
300
1914
1915
6
—
12
—
"
2
4
2
'16
20
—
1917
20
60
_
'18-'19
20
1920
5,-,.,-
12
1917 In V. 106, p. 934, showed:
1910.
1915.
1914.
Net earnings
$6,107,723
$4,745,098
$5,314.1501o8s$2.215.219
Dividends (cash) ..(20)4,000,000(20)4,000,000(14)1,750,000 (10)1,250.000
REPORT.—Report for cal.
year
1917.
The total surplus Dec. 31 1917 was
for stock dividend
$6,997,130, after deducting $7,500,000
of 60% paid Feb. 14
1917.
Tot. Reels.
Year—
Los Angeles, Cal.
Nat Bk of Com.NY ASF
Los
Angeles Utm
N Y A Los Angeles
Net.
$
$
109, p. 2261.
Depr., %c.Pf.(&%).
$
Com. Divs. Surplus.
$
$
$
1918-19—12,866,206 3,126,739 1,590,311 374,763
1917-18—11,448.242 2,691,851 1,345,878 319,507
(20)1,119,210
(x) 956,250
42,454
70.217
20% scrip. Including $450,000 (10%) paid In cash and $506,250 (10%)
paid in scrip.
i
x
OFFICERS.—William Schall, Chairman of board; F. A. Dillingham.
President; Julius A. Stursberg, 1st V.-Pres.; F. T. Maxwell, 2d V.-Pres.;
F. M. Welty, Treas.; Edward S. Paine, Sec.—(V. 107. p. 910, 1389, 1925.
2015, 2104, 2185; V. 108, p. 386. 486, 789, 885, 2130; V. 109, p. 894, 1993.)
SOUTHERN A ATLANTIC TELEGRAPH CO.—Leased to Western
Union for 999 years from Oct. 1 1876 (which at last accounts owned $390,475 of the $949,050 Btock) and stock guaranteed by rental 5%, payable
A. A O.
V. 104, p. 609.
SOUTHERN BELL TELEPHONE & TELEGRAPH CO —ORGANIZA¬
TION.—Incorporated In New York in Dec. 1879.
Stations, Dec. 31 1918,
$377,939.
Controls "Bell" telephone system In southeast coast section
of United States, Including North Carolina, South Carolina, Georgia,
Alabama and Florida.
Also owns nearly all of the $11,080,150 Cum¬
berland Telephone A Telegraph Company of Kentucky stock, operating
in Kentucky, Tennessee. Mississippi.
Louisiana, Ac.
Stock authorized,
$30,000,000; outstanding. $27,500,000. all owDed by Amer. Tel. A Tel. Co.
Divs., 6% yearly since 1906, to and including 1918.
BONDS.—Authorized iasue, $50,000,000; after $21,400,000 have been
issued, the remainder ($28,600,000) can onlyl>e 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 1918 $1,090,000 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 1917 fn V. 107, p. 178
Gross, $8,009,404; net Income, after taxes, $2,674,602; charges
$1,065,002; divs. (6%), $1,284,000; bal., sur.. $325,600.—(V. 107. p. 178
2295.)
showed:
•
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 Corp. 1st A 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 $770,700 first mtge. serial and sinking fund 5s, due $10,000
y'rly July 1 1920 to 1940. and $560,700 July 1 1941.
V. 102, p. 527. 615.
Owns the entire capital stock of the Mt. Whitney Power & Electric Corp.,
which owns all of the com. stock of the Mt. Whitney Power A Electric Co.,
having outstanding $3,433,000 1st mtge. 6% sinking fund gold bonds due
Oct. 1 1939.
V. 108, p. 1761; V. 104, p. 867.
In Dec. 1917 purchased
port for 1919 In V. 110, p. 1194, showed: Profits, $3,361,999; divs. (30%),
cash.
Bank TrCo.N Y.LAACb
July 1 1942
Apr 1 1928
M
A
S Sept 1 1951
MAN Nov 1 1936
5
a
REPORT.—Year 1918-19, V.
Sept. 30.
the
1912
O
SOUTH PORTO RICO SUOAR CO.—The stockholders voted June 14
1917 to Increase the authorized common capital stock from $4,000,000 to
$6.000.000.,
Of the new 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 pref. stock 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 subscribe at par on or before July 16 for $1,125,000 (12%)
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
Romans. V. 106. p. 2654, 2763.
Dividends on common were paid from 1910 to 1915 lncl. at an
average
rate of nearly 6k4 % per annum.
From Jan. 1916 to Dec. 1917 at the rate
of 20% with occasional extra cash and stock divs.
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 Apr. '20 the
5% quarterly dividends were paid in cash. V. 108, p. 2130; V. 109, p. 894.
Divs. on pref. at the rate of 8% have been paid since 1902. V. 106, p. 2654;
V. 107, p. 910, 2015, 2104; V. 108, p. 885, 2130.
p.
1918, 5%; Dec. 1918 and June 1919, 5% and 5% extra; Dec. 1919,
5% and 15% extra; June 1920, 5% and 5% extra.
V. 109, p. 1898.
Re¬
DIVS.—
A
Pres., L. W. Young Jr.; Sec., R. W. Cummins; Treas., S. G. Hartman.
Office, 541 William Penn Way, Pittsburgh, Pa.—(V. 106, p. 714, 934;
V. 107, p. 2482.)
June
Cash.regular 7H
Extra, stock.
A
A
amount controlled by co. through stock ownership
Not Including
Common
J
I
Nov 1 1939
p.
properties of the Ventura County Power Co.
1124.
278.
V. 106, p. 1365: V. 83,
p. 2335; V. 109.
Purchase of Shaver Lake property, V. 108,
In the early part of 1919
gas
the company sold its Santa Barbara and Ventura
properties to the Southern Counties Gas Co., and the proceeds were
Elec. Co. bonds, and to pay
used in the purchase of Santa Barbara Gas A
for additions to the property.
The
consolidated
generation,
company
transmission
and
operates a comprehensive system for the
distribution of electric energy, operating
throughout Southern California and in the San Joaquin Valley, embracing
233 cities and towns and covering an area of over 55,000 square miles,
having
a
population of
more
than 1.000.000.
This system, with the con 1919: (a) 17 hydro-electric generating
158.920 h. p. and 7 steam generating
trolled companies, Included In Dec.
plants with an aggregate capacity of
plants with an aggregate capacity of 143,310 h. p., or a total capacity of
302,230 h. p.. Including the hydro-electric development at Big Creek; (6)
undeveloped hydro-electric developments sufficient to increase the water
plants to an ultimate capacity of 900,000 h. p.; (c) 1,500 miles of
at voltages ranging from 150.000 to 15,000 volts, 158
power
transmission lines
sub-stations, and 6,500 miles of
distributing lines serving 214,528 meters.
An additional plant on the Kern River, known as Kern River No. 3, with
capacity of 40,000 h. p., and a third unit of 22,000 h. p, at Big Creek plant
No. 2 will be put in operation during 1920.
A third unit of the same size
will be Installed In Big Creek plant No. 1, the energy from which will be
available in 1921. Work Is In progress on the development of a third plant on
Big Creek, from which 50,000 h. p. is expected to be available during 1922.
Construction program for 1920, V. 110, p. 1197.
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,lp. 1050, il708, 1904; V. 103, p. 2161, 2348: V. 106, p.
1366. i City of Los Angeles has been granted the right to purchase electric
distributing system In Los Angeles for $11,000,000, but litigation ensued.
V. 108, p. 2247. 2335, 2439, 2637.
Inter-connection t>lan in 1918. V. 106,
p. 2654.
Rates in 1919. V. 107. p. 508; V. 108, p. 84.
^
a
INDUSTRIAL STOCKS AND BONDS.
May, 19 JO ]
Date
Par
Bonds
Value
MISCELLANEOUS COMPANIES
[For abbreviations, <.fee., see notes on first page
Southern New England Telephone
auth
(see text)
G.c*
?outhwe»tern Power & Light Co—Com stock $20,000,000
1898
1910
1920
500 &c
1C0
1,000
100
100 &C
100
1913
STOCK.—The first pref. shares equally with the common In
excess of 5%; 2d pref. limited to 5% divs.
All voting.
3,797,000
all divi¬
1919 offered $2,500,000 new com. stock to shareholders at 90,
making $19,110,172 outstanding or subscribed for, not including $10,836,628 controlled by cos. through stock ownership.
V. 109, p. 781.
In
Jan. 1920 was authorized to issue $250,000 additional com stock to be sold
to employees.
In Feb. 1920 offered $5,000,000 common stock to share¬
holders at $90 if paid for in cash and at $91 if paid for in installments.
V. 110, p. 1095.
Dividends.—1st pref. divs. paid 5% (Q.-J. 15) to Jan. 15 1914; Apr. *14 to
July 1916, 14% quar.; Oct. 1916 to Apr. 1920, 1*4% quar.
On common
5% yearly (14% Q.-F. 15) from May 1910 to Nov. 1913. incl.; Feb. 1914
to Aug. 1916. 6% yearly (14% Q.-F.);
Nov. 1916 to May 1920, 1*4%
quar.
V. 97, p. 1508: V. 98. p. 391
On 2d pref., 14% quarterly (5% p. a.) from Sept. 1917 to Mar. 1920.
BONDS.—The shareholders voted May 31 1918 to authorize an Increase
of the bonded debt from $136,000,000 to $272,000,000.
V. 106, p. 1800.
The General & Refunding Mortgage of 1917 Is limited to $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.
Tnis new series
is callable at 105 and int. up to Feb. 1 1942 and at 102 and int. thereafter.
A further $5,000,000 was issued in May 1920.
A semi-annual sinking fund
(or improvement fund) is to receive an amount equal to 1 % of all oonds of
the company outstanding after providing for sinking fund of underlying
bonds.
V. 108, p. 486, 789; V. 110, p. 2083.
Other series may be issued but only upon retirement of preceding series.
be issued for 75 % of expenditures for acquisitions,
extensions & add'ns to co's property, provided net earns, for the preceding 12
times the annual bond int. charge, including int. on those
bonds for which application is made.
Escrow bonds may also be Issued,
$ for $, to retire underlying bonds and also $1,978,000 debentures of 1915,
due March 15 1920, which are secured equally with the General and Refund¬
ing mortgage bonds.
Harris Trust & Sav. Bank, Chicago, and Los Angeles
Trust & Sav. Bank, Los Angeles, trustees.
See V. 105, p. 295; V, 100,
p. 1365. 1349; V. 108, p. 486.
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 1925.
V. 109, p. 378, 1085.
1*4
A
GENERAL FINANCES.—In Feb. 1919 the company sold
(a) General
and Refunding Mortgage 25-Year'6% bonds, the proceeds of which have
been 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 of
the $10,000,000 due July 1 and the remainder towards the liquidation of
the floating debt.
See V. 108, p. 1175, 789, 486.
As to General
Mtge. ,5s of 1909,
see
V. 89,
p.
1599, 1673; V. 91, p. 1517;
V. 92, p. 1705; V.93. p. 1538.1671.
There are also $48,000 Edison Electric
Co. of Los Angeles 6s (see V. 96. p. 207, 423: V. 97. p. 55; V. 98, p. 456; V.
99. p. 1533; V. 100, p. 145), and $37,000 Mentone Power Co. 5s.
DEBENTURES.—These debentures of 1919 will share in the security
made, the Hen of which is junior to that of the General
of any new mortgage
&
Refunding Mortgage of July 1 1917.
They are redeemable at company's
option as follows:
On the 15th of any month after 60 days' notice to viz.:
till Jan. 15 1924 at 105: next year 104; next year 103; Feb. 1 1926 to July 15
1927 102; last six months 101, with interest in each case.
Y. 108, p. 486,
1175.
!'.
The 5-yr. 6% debentures of 1915 were paid off at maturity Mar.
REPORT.—For cal. year 1919, in full in V. 110, p. 1196;
Year—
1919.
1918. i
1917.
Gross earnings$10,623,893
$8,735,458
$6,885,150
Calendar
Net, after taxes, &c
$6,143,572
Int. and amortization
3,160,389
Deprec'n reserve, &c
1,000,000
First Pref. dividends—(7%)280,000
Second pref. divs
_.5%)601,495
Common dividends.-(7%) 1,069,338
Balance
x
$5,387,035
2,943,569
500,000
(7)280,000
601,495
(7)984,209
15 1920.
$5,034,250
$2,800,016
1,004,015
521,711
(7)280,000(6^)250,000
296,407
(7)781,834(6^)650,272
$4,425,195
1,913,253
1,000,000
sur.$77,762sur.$153,700sur.$374,017
Federal taxes.
OFFICERS.—Pres., John B. Miller; Senior V.-P., W. A. Brackenridge;
Comptroller, A. N. Kemp: Treas., W. L. Percey; Sec., Alan E. Morphy.
Office, Edison Bldg., Los Angeles, Cal.—(V. 110, p. 1095, 1196, 2083.)
(THE) SOUTHERN NEW ENGLAND TELEP. CO.—(V. 105, p. 286.)
relinquished control.
Dividends.
Bal., Sur.
(7%)$840,000
$36,876
(7%)840,000
def.43,306
On July 31 1919 Federal Govt,
Calendar Year— Gross.
Net Income.
Int.
1919
$6,243,453 $1,011,197 $134,321
1918
5,147,944
903,503
106,809
In
1917 shareholders
and
Places
Where Interest and
Dividends
Maturity
are
Payable
text
7 g
Q—J
A
7
Q-M
Q-M
7
5 g
&
J
&
Apr
I 1920 2% Checks mailed
O Apr 1 1925
New York
June 1
20
Checks mailed
Dec 1 *19.
do
do
1*4
D June 1 1943
Bankers Trust Co, N Y
>8
near
Greenville, S. C. (V. 93,
p.
h.p.), on Saluda
533); also capital stock of Charlotte
Power Co. and Charlotte Electric Ry., Lt. & Power Co. of Charlotte, N. O.
See "Electric Ry." Section.
On or about Sept. 18 1919 began its 100,009
hydro-electric station at Wateree Station, 7 miles from Camden, S. O.
V. 109, p. 1280.
991
In Mch. 1913 the Southern Power Co. or Interests connected
therewith,
fmrchased fromWinstcn-Salem, & Power V. 96. p.street railway and electric
Co. the 793. Supplies power to
lght plants of the Fries Mfg. N. O.
Piedmont & Northern
p. 2000; V. 99, p. 749.
to be an allied concern,
Ry., 125 miles, owned by allied Interests; V. 104,
1633.
In 1915 Southern Public Utilities Co.. said
sold $2,600,000 1st & Ref. 5s, due July 1 1943.
manufacturing and Industrial territory extending for some 315
the western section of North Carolina and South Carolina„
having a population of over 950,000.
V. 90, p. 855; V. 92, p. 1640; V.95.
p. 1625;
V. 97. p. 1219; V. 100, p. 2014.
Serves
miles
a
over
STOCK.—Pref.
common,
stock, 7% cumulative, $6,000,000,
$5,000,000; outstanding, $4,000,000.
all
outstanding
„
BONDS.—Of the 1st 5s of 1910 the unissued $3,000,000
are
reserved
for
70% of the cost of additions when annual net earnings are twice the interestcharge, including bonds to be issued.
V. 109, p. 580.
Catawba Power Co.
has outstanding $628,000 (closed mtge.) 30-year s. 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 Co. mtge., nor have the
bonds of that co. any Hen or Interest on the So. Power Go.'s property.
V. 90. p. 855; V. 92, p. 1640; V. 95, p. 1625; V. 99. p. 1533; V. 100. p. 2014.
The earnings Include the Income derived from the Catawba Power Co.
and the Catawba rental Is charged into operating expenses.
EARNINGS.—As reported for years ended April 30 1919 and 1917:
1918-19.
1916-17. j
1918-19.
1916-17.
Gross
earns__$4,163,856 $3,643,341 Bond interest.
1,098,632
843,3841Balance
Net aft. rents.
OFFICERS.—Pres.. J.
B.
Duke;
Vice-Prests..
$350,000
748.632
B. N.
$350,000493,384
Duke, W.
Office.
Wylle and W. S. Lee; Sec. and Treas.. R. B
Arrlngtoa.
Fifth Ave., N. Y.—(V. 104, p. 2348; V. 109, p. 685, 1280.)
SOUTHERN UTILITIES CO.—V. 105,
p.
Gill
200*
287; V. 109, p. 278.
SOUTH WEST PENNSYLVANIA PIPE LINES CO.—ORGANIZATION.
&c.—Incorporated In Pennsylvania in 1886.
Own pipe lines In Penn¬
sylvania.
Formerly controlled by Standard Oil Company of New Jer¬
but segregated In 1911.
See Standard 011 Co., v. 85, p. 216, 790;
V. 93, p. 1390.
Dividends paid Apr. 1912 to July 1914, 5% quar.; Oct.,
3%; Dec. 31, 3%; 1915. 12% (3% Q.-J. and 3% In Dec.).
Jan, 1916 to
Dec. 31 1919, 12% yrly. (3% Q.-J.).
In April 1920 paid 2%.
Report for
1919 in Y. 110, p. 666 showed:
1919.
1918.
1917.
1916.
Profits for cal. year
$250,312
$295,723
$338,535
$456,358
Dividends
(12%)419,999 (12)419,999 (12)419,999 (12)419,999
Balance, surp, ordef—def.$169,687def.$124,270 def.$81,464 sur.$36,350
P. & 1. surplus Dec. 31 1919, $673,924.
Pres., Forrest M. Towl; V.-Pres.
& Treas., E. R. Shepard; V.-P., Allan T. Towl; Sec., C. A. McLouth, Oil
City, Pa.—(V. 110, p. 666, 976.)
sey,
SOUTHWESTERN
BELL
^TELEPHONE
CO.—ORGANIZATION.—
Incorp. in Missouri in 1882.
Owns and operates the properties of the Bell
Telephone System throughout the States of Missouri, Kansas, Arkansas,
Oklahoma and Texas.
Also owns the entire capital stock of the South¬
western Bell Telephone Co. (of Illinois) and over 90% of the capital stock
of the Dallas Telephone Co.
1916.
x$32,350
Before providing for 1919
Last Dividend
River (8,800 h.p.); Greenville-Cslrollna Power Co. (3,500
River
In Aug.
are
3,500,000 See
25,000,000
100 &c
dends In
mos.
Payable
7
Q—J
Apr 15 20 1H New Haven
J
&
D Dec 1 1948
5
N Haven, Merch Nat
text
10,000,000 See
June 1 1920 4% Checks mailed
Q—M
M &
5 g
S Mch 1 1980
7,000,000
Farmers' L & Tr Co. N *
100
Flralj lien ratge gold red 105 beg June 1918--Ba.xxxc*&r*
When
%
16,125,000
2,923.000
1.464,000
100
Prefstoek 7% cum $12.000,000——
Second preferred nun $3,000,000
The remaining bonds may
Bate
$100 $12,000,000
1,000,000
Co (The)—Stock
1st mortgage
Southern Pipe Line Co—Stock $10.000.000
—
Southern Power Co—1st M $10,000,000 g red 105--F xxc*
*outh West Pennsylvania Pipe Lines-—Stock $3,500,000-.Southwestern Bell Telep Co—Convert Notes $50,00(LOOO
Amount
Outstanding
22'.i
permitted to subscribe on or before Nov. 7
for $1,000,000 new stock at par, making $12,000,000 stock outstanding
V. 105, p. 1315.
Am. Tel. & Tel. Co. Jan. 1 1918 owned $3,385,100 stock
V. 105, p. 286, 1315; V. 106, p. 602; V. 107, p. 179; V. 108, p. 85, 1826.)
were
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. & Tel. Co.).
NOTES.—The 7% convertible notes of 1920 are redeemable, In whole 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%
cumulative pref. stock at par.
Underlying bonds outstanding, $1,251,400,
Pres., E. D. Nims, St. Louis, Mo.
SOUTHWESTERN
POWER
&
LIGHT
COMPANY.—ORGANI¬
ZATION, &c.—Incorp. in Maine July 30 1912, and owns extensive Interests
In public utility properties in Texas and In two of the border cities of Mexico,
thus serving, through controlled operating companies,
116 prosperous
communities, combined population in 1910, 449,074; 1918 (est.), 644,725.
V. 97, p. 954. Owns:
(1) All the Stock Except Directors Shares and Bonds of Sub. Cos. Operating in
EI Paso, gas
Cludad Juarez, gas served.
Galveston, gas.
Eagle Pass, electricity and water.
Ptedraa Negras. electric and water.
Paris, street railway.
Wichita
Falls, electricity and water
Big Spring, electricity.
Sweetwater, electric and ice.
Colorado, electricity.
In 1916 acquired entlrecapltal stock of the Hutchinson Gas A Fuel Co,
Gas & Fuel Co., except directors' shares.
These com.
panies serve natural gas in Hutchinson and Newton, Kansas.
and the Newton
SOUTHERN OIL & TRANSPORT CORP.—(V. 110, p. 771.)
SOUTHERN
PIPE
LINE CO.—ORGANIZATION.
&C.—Incorporated
In Pennsylvania in 1890.
Has pipe line extending from Pennsylvania State
line to Philadelphia, Pa., 263.15 miles.
Formerly controlled by Standard
Oil Co. of N. J., but segregated in 1911.
Dividends:
1912, 28%: 1913.
32%; 1914. 30%; Mar. 1915 to June 1918. 24% p. a. (6% Q.-M.).
In
Sept. 1918 to Mar. 1920 paid 5% quar.
In June 1920,4%.
V. 107, p. 508.
Report for cal. year 1919 in V. 110, p. 666, showed total p. & 1. surplus
$2,280,689; also:
1919
Profits for year
Dividends paid
Balance,
sur. or
1918
1917
1916
$1,685,*995 $2,069,038 $2,534,565 $2,354,371
(20%)1,999,999(21)2 199 999(24)2399,999(24)2399,999
deficit-def.$314,006def.$130.961sur.$134,566 def.$45,627
Pres., Forrest M. Towl; V.-P. & Treas., E. R. Shepard; V.-P. & Gen.
Mgr., J. W. Vandergrift; Sec., C. A. McLouth.
Office, Oil City, Pa.—
(V. 110, p. 666.)
-
(2) A controlling interest, through Common Stock owned, viz.: (a) $9,995.800, (all except directors shares) 99.90%, (b) $2.578,300, more than 93%, in—
(а) Texas Power &; Light Co. (see that company below), operating In
Waco, Temple, Taylor, Sherman, Hlllsboro, Cleburne, Tyler, Bonham,
Denison, Paris, Palestine, Ennis, Gainesville, Brownwood, Waxat
hachie, &c., &c. (V. 102, p. 1442).
*
(б) Ft. Worth Power & Light Co. (V. 93. p. 533; V. 97. p. 119. 240;
V. 98, p. 307; V. 105, p. 2270.)
STOCK.—Authorized: Common, $2u.000,000; preferred, $12,000,000
pref., $3,000,000.
Outstanding:
Common, $15,125,000; preferred,
$2,923,000; 2d pref., $1,464,000.
Controlled by American Power & Lt. Co.
Dividends on pref. stock, 7% per annum (Q.-M.) to June 1 1920.
2d
BOND8.—The first lien bonds ($3,797,000 outstanding) are secured by
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 & Light Co. and more than 93% ($2,678,300 par value) of
the common stock of Fort Worth Power & Light Co., and all the capital
SOUTHERN
POWER
CO.—-ORGANIZATION.—Incorp. June
22
1905 and owns (a) hydro-electric developments aggregating in Aug. 1919
119,200 h.p. on Catawba River, 8. C.t and Broad River, S. C., ana steam
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
stock, except directors' sharee and by part of the bonds of the Hutchinson
Gas&Fuel Co. and of the Newton Gas&Fuel Co. Additional first lien bonds
capital stock of 2 hydro-electric
may
cos.,
viz.: Catawba Power Co., on Catowba
be Issued for 80% of cash cost of permanent Improvements or ad-
S
INDUSTRIAL STOCKS AND BONDS.
221
Spring
Water—Stock
Valley
S28.000.0IK;
Par
Amount
Rate
When
Value
Outstanding
%
Payable
mortgage $23.0rK) 000 gold
Three-year secured notes $2,500,000 auth. U. S
xx
50
12 3'9,850 See
1911
50 Ac
1918
500
100
19'V)
1,000
100 &c
1892
1.000
of cash cost by additional properties, but not to exceed
value; but in no case unless the annual net earnings
are double the annual Interest
80% of replacement
of properties subject to the lien of the bonds
charges on all the underlying securities of
under the mortgage and all first
about to be Issued.
(V. 07. p. 954.)
pledged
the subsidiary companies not
lien 5s outstanding and those
April 1-Mar. 31
i91M9;0o
EARNINGS.—
Gross
Net...
$7,054,010 $5,869,483
2,766,034
2,110,649
(see V.106, p.1897. Compare V.108, p. 1170.)
-
.
-
I
-
REPORT.—For cal. years
1916.
1917.
.
$4,677,378
$4,193,265
companies' earnings, after
deducting all charges and all expenses, applicable
to Southwestern Power & Light Co
— 1
$1,007,605
Expenses of S. W. Power & Lt. Co., less other inc.
127,812
Int. charges on S. W. Power & Light Co. bonds—
178,750
All other Interest
80,853
Preferred dividends (7%)
169,610
$1,153,313
61,429
152,140
$450,580
$713,663
Gross earnings
of all subsidiaries
Balance of subsidiary
Balance
N. Y
68.721
157,360
611; V. 108. p. 1870; V. 109.
office, 71 Broadway.—(V. 107,
1898.)
(A. G.) SPALDING &
1914. 1915. 1916. 1917. 1918
J 1913.
1$2 12^S2 50
$3 50 $3^
$3
In 1920: Mar. 31,
Dividends
J.
&
A Aug 1
1926
do
do
6
M
&
8 Sept 1
1922
do
do
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 H 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 1929, previously Issued, $4,875,000 bonds have
been canceled by sinking fund, treasury cash or sale of securities pledged,
leaving $6,925,000 bonds outstanding in Mar. 1920. V. 102, p. 350, 1902;
V. 103, p. 670; V. 104, p. 2122; V. 108. p. 1394.
Offering of Oklahoma Gas
& 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 &
Electric public utility properties, together with $1,000,000 7% pref. stock
and 110,000 shares common (no par value) of Shaffer Oil & Refining Oo.
(v. t. c.)f 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. 15 1920, thereafter at 10034 and int.
Quarterly sinking fund of $150,000 begins Feb. 15 1920 for redemption of
notes at call price.
See V. 109, p. 1993.
Bonds ($7,199,000) So Pledged—Also Total Thereof Outstanding
and
Amounts
of Old
Underlying Bonds Out.
808,010
790,862
407,451
Mobile Elec.Co. 1st M 5s(V.95,p.753)
Muskogee Gas & Elec. Co. lst&Ref.5s
Southwest. Gen. Gas Co. lst&Ref. 6s
224,000
196,000
1,821,000
991,000
421,000
2,500,000
421.000
2,500,000
$7,199,000
$12,577,500
Utilities Investment Co. Coll Tr. 5s„_
Totals.
....
(A. E.) STALEY MFG. Co.—(V. 108, p.
Treas.,
$3,036,500
Stocks Pledged for Bond Issue
Pledged-
Company—
Pref.—Outst'g.
$1,310,400
1,410,000
Pledged—Com.—Outst'g.
$3,499,400
$3,500,000
Ark. Vail. Ry. Lt. & P..
Ft. Smith Light & Trac..
798,700
Mobile Electric
277,500
852.500
861,200
Northern States Power..
498,200
759,500
950,000
950,000
6,170.000
Oklahoma Gas & Electric
980,800
234,500
15,806,500
2,095,900
507,800
3,692,000
4,500,000
2,955.000
Ottumwa
919,900
25.000
25,000
2.125.000
650,000
630,200
2,607,300
1,000.000
103.400
Ry. & Light..
San Diego Cons. G. & E_
Southwestern Gen. Gas.
3,145,700
621,500
"Utailities Investment Co
1.001.000
1,000,000
3,503,000
1,000,000
West. States G.&E.(Del.)
$2,918,100 $24,754,600 $18,148,200 $25,179,000
V. 107, p.1750.
Total
REPORT.—For calendar year 1919 in V. 110, p. 1847,
Calendar Years—
1919.
1918.
1917.
Net
Profit
earnings
on
bonds
showed:
1916.
$1,618,567
$1,620,343
$1,712,927
$1,574,927
$1,566,051 $1,664,200
$3,040,988
$2,960,896
Gross earnings
owned
100,000
311,857
$1,666,051
792,746
707.097
(6%)
$1,976,057
(called for redemption)
B.
2247.)
Owns bonds, stock and
(electric, gas and street
railway) controlled ana operated by H. M. Byllesby & Co. of Chicago in
various parts of the country, serving 473 communities with total poplation or about 2,270,000, including Mississippi Valley Gas & Elec. Co.,
which. In conjunction with Standard Gas & Electric Co., controls through
ownership Louisville Gas & Elec. Co. of Dela. V. 96, p. 556, 1025,
1559, 1632, 1777.
The company guarantees prin. and int. on $5,000,000
Miss. Valley Gas & Elec. Co. 5% bonds due May 1 1922. V. 94, p. 1452.
Also controls through stock ownership Western States Gas & Elec. Co. of
Dela.
V. 102, p. 1544; V. 104, p. 1269.
See separate statement for each.
Effective as of Jan. 1 1919, acquired the public utility, &c., business (ex¬
cepting the banking department) of H. M. Byllesby & Co., Inc. (now the
Byllesby Engineering & Management Corp.)
V. 108, p. 2335; also acquired
a large interest in Appalachian
Power Co.
V. 108, p. 2335.
Also owns
entire capital stock of Utilities Investment Co.
SHAFFER OIL & REFINING CO.—The company controls, also guar¬
principal and int., $12,000,000 Shaffer Oil & Refinining Co. 1st M.
See that co. above and V. 108, p. 2247, 2335,
6s, dated June 1919.
2636.
'13. '14.
'15.
'16.
'17. '18.
'19. 1920
f4
0
1
4H
6
6
7X
text
In 6% scrip, %
4
7,3 none.
__
__
The directors on Aug. 19 1919 declared 13% cumulative dividends on the
pref. payable in common stock ($1,532,044) at par, Sept. 15|.
V. 109, p.
*82.
In 1920; Mar. 15, 2%.
'
The $1,649,893 dividend scrip issued to Sept. 30 1915 has all been retired.
PREF. DIVS.— 1911. '12.
7H
In cash. %
8
__
NOTES.—Plan of Sept. 1 '15 provided for an Issue of 20-year 6% gold
1915, at no time to exceed In the aggregate $15,000,000.
notes dated Oct. 1
Note offering, see V. 101, p. 1978; V. 103, p. 670.
Under the trust agreement no additional 20-year
Issued unless the annual net earnings
6% gold notes may be
(after deducting operating expenses,
annual Interest charges on the
then outstanding
indebtedness,
except these notes and the pref. stock dividend scrip), are
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 pref. stock dividend scrip,
See also V. 101. p. 843, 851, 1978.
107, p. 1750.
notes of 1918, see V.
Interest
Preferred
dividends
Rate.
Amort, of discount, &c_
$1,574,927
Balance, surplus
$962,546
stnek from $7,500,000 to $15,000,000.
786,184
707,097
(6%)
55.000
789,763
549,964
55,000
(4 2-3%)
55.000
As to collateral trust
$26,646
$111,208
$581,330
Byllesby; V.-Ps., O. E. Osthoff. J. J.
O'Brien, Arthur S. Huey, F. C. Gordon, Geo. H. Harries; Sec. & Treas.,
R. J. Graf.
Chicago office, 208 So. La Salle St.; New York office. Trinity
Bldg.—(V. 110, p. 473.)
OFFICERS.—Pres.,
STANDARD OAS & ELECTRIC CO., CHICAGO. ILL.—Incorp. In
Delaware April 28 1910 as a holding company.
of 13 public service corporations
$2,960,896
993,781
939,568
(6%)
65,000
976, 1095,
other securities
(since retired).
309,500
(5%)1,400.000(4)1,120,q00(3K) 1015000
OFFICERS.—Pres., W. B. Bourn; Sec., John E. Behan;
Bangs.
Office. 375 Sutter St., San Francisco.—(V. 110, p.
1649, 1857,2190.
taxes and
$2,667,000
620.000
2.483.500
359,731
Balance, surplus
y$27,972
$195,928
$278,408
x Less interest of $97,215 in 1919, $112,161 in 1918 and $77,039 in 1917,
charged to construction of Claveras Dam.
y Deficit.
antees
,
For list of bonds pledged to sec collat trust notes of 1918 see
£
conv.
$3,715,000
20.000
150.000
Gross income.
stock
Mch. 28 1919
Par Val. Pledged. Total Outst'g. Prior Bonds
Ft. Smith Lt. & Trac. Co. 1st M. 5s.
text
353,787
...
do
do
1930
F
BONDS.—The gold 0s of 1911 ($30,000,000 auth. Issue) are convertible
into pref. stock on the basis of $110 of bonda for $100 stock at any time
and If called within the period of 30 days' required notice of redemption.
1920.
5
x872,614
Bond. &c., interest
Nov 1
6
1,448.000
IK%-
REPORT.—Report for cal. year 1919, In V. 110, p. 1857, showed:
Calendar Years—
1919.
1918.
1917.
Gross earnings
$4,231,473
$4,107,785
$3,899,191
Net earnings
2,598,432
2,531,389
2,444.002
Depreciation reserve, &c
N Y and Chicago
Sept 1 1921
New York and Chicago
Nov 15 1921
May31 1920 2% Metropolitan Tr Co A I
do
do
May31 20 1
Enid Elec. & Gas Co. 1st M. 6s
1919.
4
Payable
are
Mar 15 '20 2% Checks mailed
Phlla Tr, S Dep & Ins Co
D Deo 1 1926
O Oct 1 1935
Guaranty Tr Co
N Y
Ark.Vail.Ry.,Lt.&P.Co. lst&Ref, 5s. $.3,665,000
110, p. 666, 877, 976, 1420, 1532, 1649.)
VALLEY WATER CO., SAN FRANCISCO.—ORGANIZA¬
TION.—Successor Apr. 24 1903, per
plan V. 76, p. 216, 977, to Spring
Valley Water Works. V. 78, P. 827.
Suit, V. 82, p. 574; V. 84, p. 577.
In
Aug. 1906 an assessment of $3 a share was levied on the stock/ V. 83, p.
327, 498, 704.
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 company.
Im¬
pounded money $2,323,442 awarded to company.
V. 107, p. 1105, 1008,
508; Water rates, 1918, V. 107, p. 1389.
Of the General gold 4s ($28,000,000 authorized Issue; Union Trust Co. of
San Fran., trustee) the unissued bonda are applicable for acquisitions and
Improvements equal In cost to at l^ast 85% of value o' bonds
V 7<i.
p. 992: V. 81, p. 1726; V. 82, p. 164; Y. 87, p. 1482.
On Dec. 3x 1919 $17,859,000 of these bonds were in hands of public and a further $7,436,000
were In treasury; this last including $4,685,000 pledged to secure 2yr.notes.
In 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.
DIVIDENDS.—
&
Company and Bond Issue—
SPRING
LATE
Dividends
71 900
BROS.—(V. 109, p. 1373, 1531.)
SPICER MFG. CO.—(V.
&
A
K
&c
100
1916
J
M
&
S
710.000
M
&
N
7
4,500,000
Q—F
7.404,742 10% 1919
6
0.488.000
Q—F
M
&
N
5 g
2,638.000
100 &c
1919
Q—M
tex*
6 g
6 g
6.925,000
6.841,200
.500 &c
1915
-Nxxxc*
dltions or for 80%
Places Where Interest and
12.679.550
50
Conv s f secured notes $4,500,000 call text
Ce.Ckxxxc*
Standard Milling—Common stock $15,000,900 Stock pret (a & d) 0% non-cum $0,488,000
—
First mortgage gold sink fd $6,250,000 »see text) ..Mp.xc*
Debentures after Aug. 1 1918 convert Into com stock call..
Hecker-Jones-Jewell Co 1st M $2,500,000; $184,000 re¬
deemed; $868,000 owned by Standard
—
xc*
100H
Maturity
6*
1920
Standard Gas & Electric Co—Com stock $15,000,000 auth..
Pref stock 8% cum $30,000,000 auth
Convertible sinking fund gold bonds redeemable 105.-xo*
20-year 0% gold notes $15,000,000 red 103
xxc*
Oollat trust notea $750,000 call at 101 till Sept 1920, then
and
$100 $28,000,000 5% in *19 Q—M 31 May 31*20 1H % Checks mailed
.1
N Y, San Fr & Fran-on ¥
&
D Dec 1 1923
i.OOO
17,859.000
Co.'s office, San
M
Fran.
&
S Mar.
1,
1923
2.500.000
1,000
i
General (now first)
"b"
Last Dividend
Date
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, dec., see notes on first page]
[Vol.110.
STANDARD
Oct. 31 1900.
H.
MILLING
M.
CO.—ORGANIZATION.—Incorp. in N. J.
Consolidated with Colonial Milling Oo. June 29 1916, per
{>lan In V. 103, p. 65, and owns directly or through subsidiary cos. mills
Minneapolis, Duluth, West Superior, Buffalo, Kansas City and New
n
York: total daily capacity, 40.000 bbls. of flour.
V. 75, p. 1252; V. 68.
71, p. 817; V. 84. p. 697.
Oct. 29 were offered the right to sub¬
scribe at par ($100) on or before Dec. 1 with payment in full for about
$1,384,000 treasury common stock to the extent of 23% of their holdings.
The proceeds reimbursed the company for the erection of new flour mills
and grain elevators at Kansas City and for further expansion. V. 109,
p. 1799, 1531.
LATE DIVS.—
'08. *09. TO. '11 '12-T3 T4-T5 '16 '17 '18
*19 1920
On preferred
%
34345
5
5666
See
p.
873, 929; V. 69. p. 29. 1010; V.
Common stockholders of record
On common
do
In
-.
stock
2
3
5
..
In Oct. 1916 and again in Oct. 1917 a
4
4
8
4
10
text
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 Nov. 31 1920 paid 2% quarterly in cash with on Aug. 30 1919 an ext. 2%.
V. 108, p. 1732; V. 109, p. 378.
The outstanding stock was increased from $4,786^315 on Aug. 31 1917
to $5,960,142 Aug. 31 1919 through the 4%
($197,000) distribution as
stock dividends plus $975,100 issued for conversion of that amount of the
$1,110,000 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.
BONDS.—Of the
1st
5s,
$1,448,000
is
reserved
to
retire at
par
the
V. 94. p. 1631; V. 99, p. 54.
The convertible debentures are convertible into common stock at par
and
$1,448,000 Hecker-Jones-Jewell 1st 6s.
redeemable at 105% and int. upon 60 days' notice, subject to the conversion
privilege which may be exercised during the 60-day period; $975,100 so
converted Sept. 1919.
V. 103, p. 65.
In the year 1918-19 $4,555,000 notes payable, inventories having increased
from $6,195,800 to $9,042,678.
V. 109. p. 1458.
INDUSTRIAL STOCKS AND BONDS
Ma*, 1920.
Date
&c.. see
notes on first page)
Par
Amount
Rate
When
Last
Bonds
COMPANIES
MISCELLANEOUS
fFor abbreviations,
Value
Outstanding
%
Payable
and
$100 a$99373311 See
Standard Oil Co of California—Stock auth$100.000.000
Standard Oil Co of Indiana—Stock $100.000.000—
100
$100,000
yrly;
Karpen Bldg 1st M bonds due $50,000
1925 call 102
Standard OH Co of Kansas—Stock $2,066,000 (auth)
Standard Oil Co (Kentucky)—Stock $6,000,000 auth
Standard Oil Co of Nebraska—Stock, $5,000,000
Standard Oil Co of New Jersey—Stock $100,000.000
*
1910
500
100
250,500
2,000.000
6,000,000
1.000,000
98.338.300
100
Places
Where Interest and
Dividends
are
Payable
See text
Checks mailed
June 15 '20 6% Checks mailed
J
&
D Dec '19-Dec '25
5 g
24 In '19 See
text June 15 '20 6% Checks mailed
12 in '19
Q—J
Apr 1 1920 3% Louisville, Ky.
See text
100
100
7% cum $200,600,000 call after 3 yrs 115
Standard Oil Co of New York—Stock $75.000.000—.-.-.—
Not
&c
100
—
Pref (a & d) stock
a
Q—M
Q—M
Dividend
Maturity
in
--
--
text
30,000,000 24 in '19
225
100
in "19 J
&
D Dec 20 '19 10% Omaha
20 in "19
Mar 15 *20 5% Guaranty Tr Co,
Q—M
7
Q—M 15 June 15 *20 1%
Jnne 15 *20 4% Checks mailed
75,000,000 16 in '19
Q—M
20
N
Y
including $626,689 held in treasury.
REPORT.—For year ending Aug. 31 1919,
REPORT.—For calendar year
1919.
In V. 109, p.T458, showing:
$1,668,298
(6)389.153
$1,657,410
(6)389,071
(8)372,990
$1,996,295
$1,931,227
Div. on pref. stock
(6%)389,172
(6)389,161
Div. on common stock(10%)584,823 (10)488,663
Balance, surplus
$1,022,300
$1,053,403
Net profits, aft. int.,&c.
1919, in V. 110, p. 976, showed:
Calendar Years—
-1#
(5)229,820
$906,155
$1,038,520
OFFICERS.—Pres., A. P. Walker; V.-P., James P. Lee, Treas., J. A.
Net profits
Cash dividends
-$3,726,033
(12%)720,000
Federal taxes (1917) addRes. Fed. tax. curr. year-
Insurance fund---
1,500,000
100,000
1917.
t$1.967,020
(14)600,000
1918.
$2,713,948
(12)720,000
265,864
1,250,000
1916.
$2,068,598
(20)600,000
Office, 49 Wall St., N. Y.—
Balance, surplus
$1,406,033
$478,083
$1,367,020
$1,468,598
t After deducting estimated allowance for Federal income and war taxes.
STANDARD OIL CO. (CALIFORNIA).—ORGANIZATION.—Organ¬
ized in California Sept. 10 1879 as the Pacific Coast Oil Co.
Present name
adopted July 23 1906.
Own* crude oil properties, pipe lines for the trans¬
Pres., O. T. Collings; 1st V.-P., G. H. Stansbury; 2d V.-Pres., S. W.
Coons; Sec. & Treas,. Jos. O. Steidle; Asst. Sec.. A. K. Whitelaw: Asst.
Treas., Thos. McGoodwin.
Office, Louisville, Ky.—(V. 110, p. 976.)
Knox; Sec. & Asst. Treas., J. A. Neville.
(V. 110, p. 1649, 1978.)
portation of oil, refineries at Richmond, El Segundo and Bakersfield, and in
the Kern River field, Calif., tank steamers and barges for the transportation
of its products.
Also owns sales stations inlprincipal cities and towns on
Pacific Coast (compare V. 110, p. 1080) Government action as to Midway
oil lands, V. 106, p. 1583.
Decision, V. 108, p. 387, 2247.
LATE DIVS. (%)—
'14.
'15.
10
50
1919.
1920.
See
10
text
1
33 1-3
__
__
10
10
—■
--
__
__
Liberty bonds
1918.
1917.
'16.
10
10
—
10
In stock
In
'13.
•*-
Regular cash
Extra cash
__
2lA
—
--
2]4
—
Sept. 1918 and again March 15 1919, paid 2J^% extra in U. S. Liberty
Loan 4^s.
In Dec. 1919 1 % extra in cash.
In March, and again in June,
1920, paid 2XA% quar. and 1% extra.
.
EARNINGS.—For calendar year 1919, in V,
1919.
1918.
Earnings for year
.$48,566,327 $44,276,521
Depreciation, &c.__
8,176,220
9,917,985
Excess profits & income
taxes
(estimated)
9,327,339
19,405,462
Dividends (10%).
—
10,931,063
9,937,331
do
in Lib. bds. (2K%)2,484,333
2,484,332
110, p. 976, showed:
1917.
1916.
$30,377,073 $21,263,520
5,897,326
3,658,216
5,830,117
9,316,248
—
Balance, surplus.....$17,647,372
6,831,915
$9,333,382 $10,773,489
H. M. Storey!
C. Warner.
$2,531,411
OFFICERS.—Pres., K. R. Kingsbury: V.-Pres. & Sec.,
V.-Pres., R. J. Hanna and F. H. Hillman; Treas., R.
DIRECTORS.—K. R. Kingsbury, F. H. Hillman, R. J. Hanna,
H. M.
Storey, R. C. Warner and J. P. Smith.
N. Y. office, 37 Wall St.; head
office, Standard Oil Bldg., San Francisco.—(V. 110, p. 473,976 ,1080,1095.)
STANDARD OIL CO. OF INDIANA.—ORGANIZATION, &C.—In¬
corporated in 1889 in Indiana.
Has refineries at Whiting, Ind., Sugar
Creek, Mo., Wood River, 111., and Casper, Wyo.
Also markets oil, its
distributing territory comprising extensive areas in Middle West and North¬
west.
Formerly controlled by Standard Oil Co. of 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. 1390; V. 95, p. 1750; V. 97, p. 1290.
Stock, $30,000,000, a 2.900%
stock div. being paid May 15 1912; par, $100.
V. 94, p. 420.
Sharehold¬
er* voted March
1 1917 to increase the auth. stock from $30,000,000 to
$100,000,000, with a view to a stock dividend (none declared to Apr. 1919);
also obtained right to enter the oil production and transportation business.
V. 104, p. 368.
Bonds, Karpen Bldg. 1st M. 5s, mature in annual install¬
ments from Dec. 1 1912 to Dec. 1 1925.
V. 92, p. 61; V. 91, p. 1773.
War tax, V. 106, p. 2458.
'
In May 1918 the Federal Trade Commission charged this company
practicing monopolistic methods.
V. 106, p. 1905, 2075.
,
,
,
with
DIVIDENDS (%)—
—
V.
107,
p.
-
1673.
calendar year
1919:
earnings
_
Reserve for Federal taxes
—
$34,604,416 $43,263,877 $43,808,931
9,796,624
20,000,000
18,400,000
7,200,000
7,200,000
7,200,000
-.-$17,607,792 $16,063,877 $18,208,931
105,117,257 87,509,465 71,445,588
Chairman, Robert W. Stewart; Pres., Wm. M. Burton; Sec. & Treas.,
E. G. Seubert.
Office, 910 So. Michigan Ave., Chicago, 111.—(V. 109, p.
Surplus for year___
Total surplus-
.
585, 1799; V. 110, p. 368, 1095.)
STANDARD OIL CO. OF KANSAS.—ORGANIZATION, &c.—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.
LATE DIVS.— f
1913.
'14. '15. 1916. 1917.
1918. 1919. 1920.
Regular
%{
Extra
% (28 & 1.00 stk.
6
12
Feb. 28 1918 to June 15 1920
12
12
12
12
12
7
4
12
12
12
paid quarterly 3% and 3% extra.
—
REPORT.—For calendar year 1919 showed:
Calendar Years—
1919.
1918.
—$1,661,614
Net profits
Dividends
$1,413,890
$1,270,313
(24%)480.000 (24)480,000 (24)480,000 (16)320,000
surplus Dec. 31 1919, $5,477,170.
i
Pres., J. C. McDonald; V.-P., Thomas Black; Sec. & Treas., E. A.
Warren.
Office, Neodesha, Kan.—(V. 110, p. 473 , 567, 2083.)
OIL
CO.
(KENTUCKY.)—ORGANIZATION,
&C.—
1886.
A marketing and refining co.
Formerly
Oil Co. of N. J., but segregated In 1911.
See
Standard Oil Co. of N. J., V. 85, p. 217.790; V. 93, p. 1390.
Stockholders
voted Dec. 18 1913 to increase the auth. stock from $1,000,000 to $3,000,Incorp. in Kentucky in
'
by
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.
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. nonvoting pref. stock, pref. as to assets and divs.,
and subject to redemption after 3 years at 115 and divs.
Of this new stock
$98,338,300 having been underwritten, was offered at par to stockholders of
Aug. 1,5, 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,
1373.
686.
Standard
a 200% cash div. being paid Feb. 14 1914, applicable, if desired, to
purchase of new stock at par.
V. 97, p. 1589, 1827, 1903: V. 98. d. 76-
000.
1916.^1917.
1918.1919.1920.
Regular, %
10
17
16
16
14
12
12
See
Extra. %
t.
2
0
4
2
—
text
July 1917 to Apr. 1920 paid 3% quar. on the $6,000,000 stock.
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.
CASH DIVS.—1913.
1914.
1915.
1531.
„
,
,
4
,
May 5 1920 to increase the cumul. 7% pref. stock
to be offered to
the basis of one
new pref. share for each share of common held.
Subscription rights expire
June 15.
Compare V. 110, p. 1638, 1649, 1755.
from $100,000,000 to $200,000,000, of which $98,338,300 is
common stockholders of record May 14 at $100 a share on
-
(on com.) —TOO. *01. '02. '03. '04. '05-T0.
148
48
45
44
36 40 y'ly
1898 (%>-
Also
a
ceived in
*11. '12 to June '20
37 20% yriy.Q-M
($39,335,320) on Feb. 15 1913 from funds re¬
liquidation of loans to former subsidiaries.
V. 96, p. 423.
distribution of 40%
cal. years, V. 109., p. 378.
Earns. After
Dividends
Federal Taxes.
Paid.
EARNINGS AND BALANCE SHEET.—For
Earns.
1919 XX--—$90,725,674
1918
1917
1916
———
101,614,144
105,785,859
72,426,692
61,396,923
31,798,850
—
1914
46,168,955
35 397 717
1913
1912
Federal Taxes
Before
Federal Taxes
Year—
Paid & Accrued.
1279.
x 1918 taxes subject to adjustment (V.
108, p.
335.320 from loans repaid by former subsidiaries.
xx
1919 earnings and taxes
Table Showing
p.
1296.
$21,218,559
19,667,660
19,667,660
19,667,660
19,667,660
19,667,660
y59,002,980
19.667.660
$76,725,674
57,283,785
80,765,942
70.792,059
60,777,243
31,457,634
45,691,869
35,107,887
xx$14,000,000
x44,330,359
25,019,917
1,634,633
619,679
341,215
477,086
289.830
y
Includes $39,-
estimated.
Products of Company's Own
For balance sheet as of Dec. 31
Refineries,1915-1919, V.110,
1919, see V. 110, p. 1638.
DIRECTORS.—Chairman and Chief Executive
1916.
1917.
$1,422,982
See
text
Profit and loss
STANDARD
ized in
Since
1917.
1918.
1919.
Dividends (24%)
controlled
195
STANDARD OIL CO. (OF N. J.).—ORGANIZATION.—This com¬
incorp. under the laws of New Jersey in Aug. 1882 and reorgan¬
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 company for violation of the anti-trust laws (V. 92. p. 1343, 1378),
the company on
Deo. 1 1911
distributed its holdings in 33 subsidiary
oil
gas, pipe line and allied companies In the amounts given in V. 93,
p. 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¬
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 & 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
of the new stock to W. C. Teagle of New York, President of the Standard
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
pany was
DIVS
REPORT.—For
Calendar Years—
Net
raising amount outstanding to $1,000,000; par $100.
In Jan. 1919 the
authorized 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% «xtra
June
1914 to Dec. 1919, 10% semi-annually.
Balance sheet as of Dec. 31 1919,
V. 110, p. 1420.
Pres., A. H. Richardson.
Office, Omaha, Neb.
Sec.,
H. W. Pierpont.—(V. 108, p. 282; V. 110, p. 1420.)
The stockholders voted
f '12. '13. '14. '15. '16. '17. *18. 1919. 1920.
Regular
6
12
12
12
12
12
12
12
See
Extra
( 7 20 13
.12
12
12
text
Quarterly dividends 1917 to June 1920, both inclusive, 3% and.3% extra.
.
OF NEBRASKA.—ORGANIZATION.—Inoorp.
A marketing company.
Formerly controlled by
J., but segregated In 1911.
See Standard Oil Co
of N. J., V. 85. p. 216, 790; V. 93, p. 1390.
Stock authorized, $1,000,000;
on April 15 1912 a 33 1-3% stock div. was paid, and on June 20 1913, 25%
STANDARD OIL CO.
In Nebraska in
1906.
Standard Oil Co. of N
A .O. Bedford; Pr^.,
V.-Pres'ts, F. H. Bedford, F. W; Woller, F. D. Ascbe;
Geo. H. Jones. O. T. Waring, Walter' Jennings T. J
A. Moffett Jr.
Sec. is Charles P. White.
Office. 26
Walter C. Teagle;
S. B. Hunt, Treas.;
Williams
and
J.
B'way, N. Y.—(V.
1619, 1755, 1978.)
110, p. 83, 173, 567, 1095,
1194, 1296, 1532, 1638,
OIL CO. OF NEW YORK.—ORGANIZATION, &c.—
Incorp. in New York in 1882.
Has several refining plants at New York and
Buffalo and also markets oil.
Also oonduots a number of collateral busi¬
nesses, Including the manufacture of barrels, cans, boxes and wicks.
For¬
merly controlled by N. J. company, but segregated In 1911.
See Standard
nil On
of N
J
V. 85. d. 216. 790; V. 93. p. 1390. Stockholder* voted on
STANDARD
increase the authorized stock from $15,000,000 to $75,000,dividend being paid June 30. V. 96. p. 1428. 1633.
purchased a 45% (non-voting) Interest in the $44,000,000 capital
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 and Mexico.
In May 1918 the Federal;
Trade Commission objected to this alliance.
V. 106, p. 507, 1809.
June 5 1913 to
000
a
400% stock
In 1918
DIVIDENDS.—/Dec. 1911
'12
cent-1
20
* 6
In 1920, March, 4%; June, 4%.
Per
'13
6
*14
8
'15 '16 '17.'18. '19. '20.
8
8 11
12 16
text
v
Standard OH Co (of Ohio)—Com stock S14.000.000 -------Pref (a & d) stock 7% cum call 115 beg 1925
Steel & Tube Co of America—Stock—
Pref (a & d) stock 7% cumui $17,500,000 red 110 sk fd
Convertible gold notes $7,500,000 call (all 102 H) CCxxxxc*
Gen Mtge $50,000,000 s fd (collateral for above notes)
"B" red 105
mortgage series
General
Underlying Bonds—
Iroquois Iron Co 1st M due $128,000 yearly
Dec 1; 1929,
IC
SI 24,000
RefundlngMortgage (closed)
Mark Mfg Co 1st M call 102K
Real estate mortgage (as or
mortgage red
General
Par
Amount
Rate
When
Value
Outstanding
%
Payable
and
Q—J
July 1
CCc*
6
1909
500 &c
1916
500 &c
1,276,000
626,000
3,900,000
98,110
100 &c
1914
—
Balance, surplus
*
After deducting war taxes.
was
creating $7,000,000 new
by
$21,000,000
7% cumulative
recore
stock at par ($100) for each share of common
stock will be held in treasury subject to
issue by the board.
V. 110, p. 269.
Balance sheet, Dec. 31 1919, in V. 110, p. 1420, showed surplus of
$12,621,815.
share of new preferred
stock held.
Additional
common
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, Jan.. Apr. & July, 3% and 3% extra
Jan. 1917 to July 1920, 16% p. a. (quar. 3% and 1% extra).
Office, East
Ohio Gas Bldg., Cleveland, O.—(V. 110, p. 877, 1420. 2199.)
Dlvs., Dec. 16 1912. 5% for 6 mos. ending Oct.
STANDARD TEXTILE PRODUCTS CO.—V. 110,p. 1420,2083,2199.
& TUBE CO. OF AMERICA.—ORGANIZATION.—Incor¬
porated in Dela. June 14 1918 (V. 107. p. 297) as a consolidation of Mark
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 1,000,00 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 miles,
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,
HI., and Zanesville, O., capacity 360,000 tons p. a.; (g) at Kalamazoo,
Mich., electric furnace producing alloyed steel, 2 rolling mills, &c.
V.
109, p. 585, 180.
STEEL
annual
STOCK.—An
fund
sink,
of 3% of the total amount of pref
stock issued provides for its retirement at 110.
V. 109, p. 180, 585.
An initial dividend of 1 % % on the new pref. stock was paid Oct. 1
Jan. and Apr. 1920, l%%>
1919.
amount of Gen.
Mtge. series 7% bonds and convertible at option of holders
bonds $ for $. V. 107,
p.
issued
except to secure the
bonds, see table above.
be
186, 297,1750. No. Gen. Mtge. bonds can
notes till these are retired.
Underlying
Earnings Calendar Years—
1919.
1918.
1917.
1916.
profits after Fed. taxes.$6,075,208 $9,706,715 $7,343,698 $6,684,370
charges
2,118,470
1,829,398
782,029
371,814
Net profit available for divs.
and depreciation reserve-- 3,956,738
6,561,668
6,312,556
7,877,316
Gross
Fixed
Dec '20 to 1929 Chicago
June '22 to 1930
&
June '20 to 1939 Bankers Tr, N Y; & Chic
A
jP
O 1920-1934
&
A 1921-1939
May 15 *20 SI
Apr 1 1920 $1
Q—J
See text
Q—M
June 21 '20 1%
Q—M
&
Q—K
9 in 1919
Milwaukee, Chic & N Y
New York and Cleveland
Checks mailed
Lawyers Ti & Tr OoiN Y
mailed
Checks
120,000 shrs $5Inl919
New York
See text
Q—J
DIVIDEND.—No. 1, April 2 1917 to July 1 1918. 75 cents quar.;
1918 to April i919, paid 75 cents and 25 extra.
July 1919 to Apr.
$1 quar.
V.
108,
p.
2247; V. 107,
REPORT.—For cal. year 1919, in V. 110, p. 1755:
Calendar Years—
1919.
Gross profits:.
—
$858,072
1920
1918.
$350,827
11,594
21,742
$870,566
150,000
$372,569
22,880
70,392
$101,328
i
$279,097
319,238
Selling, administration and general expenses, &c_
Federal taxes
1
Net profPs
-
Ryan, N. Y., Chairman; Charles W. Stiger,
R. Coffin, N. Y., V.-Pres.; George H. Saylor, of
Chase Nat. Bank of N. Y. City, Treas.
Frederick E. Gunnison, of the
Lawyers Title & Trust Co., N. Y.; William L. O'Neill and Chas. A. Brown,
Chicago—(V. 110, p. 1755.)
DIRECTORS.—Allan A.
Chicago,
111., Pres; J.
(The)
STUDEBAKER
CORPORATION—ORGANIZATION.—Incor¬
porated In New Jersey Feb. 14 1911 and took over the Studebaker Bros,
(carriage, Ace.) Mfg. Co., South Bend, Ind.. and "E. M. F. (automobile)
Co."
V. 92. p. 534 602; V. 98 p. 834; V. 103 p. 1046.
In June 1917 ac¬
quired Staver 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
South Bend, Ind.; Detroit, Chicago and Walkerville, Ont. The completion
as proposed by 1920, of the new automobile plant at South Bend, begun in
3 916, will, it is said, give that plant a capacity o
100,000 automobiles per
annum and with the Detroit plant of 60,000 cars per annum, double the
company's capacity.
Also makes farm wagon and farm trucks.
See
"Notes" below and V. 108, p. 88,1160; V. 109, p. 894.
Organ, of new sub¬
sidiary, Citizens Homes Co., V. 109, p. 2363.
,
STOCK.—A special surplus account, which on Dec. 31 1919 amounted to
$3,210,000, retires 3% or pref. stock yearly at not exceeding 125; the
amount issued, $13,500,000, had on Dec. 31 1919 thus been reduced to
$10,260,000.
No
mortgage
or
preferred stock increase, except
by
consent of at least 75% of each class.
See V. 101, p. 1482; V. 102, p. 527,
894.
The
shareholders
voted
24 1919 to
Nov.
the
increase
common
stock
Of the new stock $15,000,000 (under¬
offered at 105 to com. stockholders of record Nov. 29, one
share for every two shares held.
The $15,000,000 serial notes were paid
off out of the proceeds.
V. 109, p. 1800.
from $30,j00,000 to $75,000,000.
written)
was
1915.
1916.
1917.
1918.
1919.
1920.
common
%
5
10
7
4
7
"
text
Sept .1 *17 to Sept .2'19.4p.a.(l Q.-M.): Dec. 1*19 IK &2J4 extra. V.
109, p. 1800.
Mar. 1 1920, 1K%; May 5 1920, 33 1-3%, payable in com.
stock, increasing the outstanding amount to $60,000,000; June 21 1920,
1M%DIVIDENDS.—
On
NOTES.—The $15,090,000
Serial gold notes were
on Jan. 1, viz.: $1,000,000 in 1921; $1,250,000
to mature in in¬
in 1922; $1,500.000
$1,750,000 1925: $2,000,000 yearly 1920 to 1929. incl.,
unless called for payment on any interest day on 30 days' notice as a whole
or in series at a premium of 1 % plus an additional 1 % for each full calendar
year remaining to maturity.
Tbe entire issue was called for payment on
Jan. 1 1920 at 101-109.
V.T08, p. 167, 1160;. V. 107, p. 2382; V. 109, p.
1707.2178.
'
Sales for the first quarter of 1920 amounted to $23,301,242, compared
with $10,890,348 in same quarter of 1919.
each 1923 and 1924;
1919, in V. 110, p. 1180, showing:
1918.
1917.
1916.
23,864
42,357
65,885
.$66,383,307 $52,087,997 $50,147,516 $61,988,594
REPORT.—For calendar
— _
First quarter of 1920: Sales, $18,575,355; gross income, $3,154,116; tax
reserves, &c., $356,775; interest charges, $400,837; pref. divs., $306,250;
surplus, $2,090,254.
OFFICERS.—Clayton Mark, Chairman of the Board; A. A. Schlesinger,
Pres. & Treas.—(V. 110. p. 1532, 1649, 1857.)
Oct.
910, 2194.
p.
stallments
DEBT.—The $5,000,000 notes offered In July 1918 by
William A. Read & Co. are part of an auth. $7,500,000 secured by an equal
FUNDED
Into said
&
&
Total income.
Ereferred stock and issuing $7,000,000 additional common stock. Stockolders of
Jan. 12 1920 were given the privilege of subscribing to
one
J
J
J
Office,
(THE) STANDARD OIL CO. (OP OHIO).—ORGANIZATION.—
Incorp. in Ohio In 18/0.
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
to
and Boston
5 g
6
Other income-
$142,583,873,
Pres., H. C. Folger; Sec., Howard E. Cole; Treas., F. J. Frost.
26 B'way, N. Y.—(V. 110, p. 83, 269.)
$7,000,000
Chicago
See text
1918.
1917.
1916.
$28,642,388 *$30000,673 $36,638,495
(12)9000,000 (11)8,250,000 (8)6,000,000
$31,165,109 $19,642,388 $21,750,673 $30,638,495
1919
Chicago
and
75.000 shrsi.1919 $4
60,000,000 7 in 1919
100
10,260.000 7 in 1919
Net (after deprec., Sec.) .$43,165,109
Cash dividend.„-(16%) 12,000,000
The total surplus Dec. 31
and
York"
100
showed:
REPORT for calendar year 1919
Calendar Years—
1919.
York
&
J; July 1
J July 1
None
None
Stutz Motor Car Co—Stock 120,000 shares
See text
None
J July 1
&
6 g
1,235,000
950,000
100 &c
1919
&
J
J
6,000,000
"500
Payabe
are
4% Checks mailed
Apr 1 *20 1H %
New
1921
1943
New
1944
Q—J
&c
1919
*20
Where Inerest and
Dividends
J
I*
Oct 24 1918)
105 —'
7
5.000,000
Pledged
notes
7%
Sbrs970,912
100
17,500,000
500 &c
1918
Places
Maturity
7
See text
100
Stewart-Warner Speedometer Corp—Com stock—
Strom berg Carburetor Corp—Stock full pd 8c non-assess-(The) Studebaker Corp—Common stock $75.000.000-Pref stock (a <fc d) 7% cum $15,000,000 red 125(allorpart)
gold
$7,000,000 16 In '19
$100
$2
—
Iron Co first mortgage
Northwestern
Last Dividend
Date
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on first pate
Serial
[Vol. 110.
INDUSTRIAL STOCKS AND BONDS
226
year
1919.
39,356
Automobiles sold
Net sales
Net earnings
Deduct—Int.
11,166,513
charges.
4.359,417
$298,488
4.817,613
$295,664
Preferred divs.
Common divs
8,611,245
1,854,229
637,754
560,188
(7%).
748,475
767,550
767,500_
$767,550
r%)2,100,000 (4)1,200,000 (7)2,100,000(10)3,000,000
r(7<
Federal taxes___-__-_
-
_
STEWART-WARNER SPEEDOMETER CORP.—ORGANIZATION
—Incorp. in Virginia Dec. 20 1912.
Factories, Chicago, 111., and South
Belolt, 111. 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.)
STOCK.—Stockholders will vote June 4 1920 on increasing the common
stock by 200.000 new
shares,
no par
value, of which 60,000 will be exchanged
for Stewart Manufacturing Corp. common, no par value, share for share.
The remainder is to be kept in the treasury for later issue as directors may
determine.
Stockholders
on
Nov.
14
1919
to
change the capitalization
(par $100), all outstanding, to 400,000 shares (no
par value), four new shares for one old share.
V. 109, p. 1799, 1898.
On
Sept. 30 1919 the $1,000,000 pref. stock paid off prior to Dec. 31 1916 was
from
100,000
voted
shares
held in treasury.
11913.
DIVIDENDS.—
Per
cent
1914 to 1918.
4H
-
6 yearly
An initial quar. div. of $1 per share was paid
stock on Feb. 14 1920; same amount paid May
Calendar Years—
Net profits
_____
1919.
$3,161,634
REPORT.—For cal. year 1919, in
,
1920
9 (2+2+2+3)
onUhe
new
(no
par
text
value)
15 1920.
1918.
$2,002,646
V.
1919 (Cal. yr.)
1917.
$2,200,774
1916.
$2,215,043
110, p. 762.
OFFICERS.—Pres., C. B. Smith;V.-Pres.. V. Ii. Bueklin; V.-Pres. &
8ec.,'W. J. Zucker; V.-Pres. & Treas., T. T. Sullivan.
Directors: C. B.
Smith, V. R. Bueklin, W. J. Zucker, L. H. La Chance, J. E. Otis, Chicago.
—(V. 109, p. 484, 886, 1185, 1615, 1799, 1898; V. 110, p. 762, 1095, 1978.)
Balance, surplus.____
$6,463,809
from
mortgage).
Trading in stock suspended on N. Y. Stock Exch., V. 110, p. 1420.
STOCK.—The stockholders voted May 5 1920 to increase the
CAP.
capital stock from 120,000 shares, no par value, to 200,000 shares, no par
The amount of capital with which the corporation will carry on
value.
business is increased from $000,000 to $1,000,000.
The 80,000 shares of
are to be paid out in stock dividends.
present plan provides for distribution of the 80,00,0 shares in four
installments of 20,000 shares each to stockholders of record June 15 1920,
new
stock
The
Sept. 15 1920, Dec. 15 1920 and March 15 1921 (V. 110, p. 1420), but au¬
has been given directors, however, to distribute the 80,000
thorization
shares for stock dividend in such different installments
dates as
they
may,
could be distributed during current year
issued, as increased
n Aug.
1919, 75,000
shares of no par value, fully 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.
V. 110,
such earlier
if earnings warranted it, instead
1649, 1420.
p.
DIVIDENDS.—An Initial dividend of $1 25
paid the same rate to Jan. 1
a
on
taken in order that the 80,000 shares
of stretching it over into 1921.
one-fifth of
and
in their discretion, determine.
It is understood this action was
2083,2199.)
and
$4,843,695
STUTZ MOTOR CAR CO. OF AMERICA, INC.—ORGANIZATION.'
—Incorporated In N. Y. on June 22 1916 (V. 102, p. 2347) and took over
the entire capital stock and m 1917 the property of the Stutz Motor Car
Co. of Ind., manufacturing motor cars at its plant in Indianapolis (free
STROMBERG CARBURETOR CO. OF AMERICA. INC.—ORGANI¬
ZATION.—Incorporated in N. Y. on July 21 1916 and acquired the capital
stock ($50,000) or the Stromberg 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. 31
1918, V. 108, p. 276.
In Jan. 1919 obtained contract supplying carburetors for all new Stude¬
baker motor cars.
V. 108, p. 282.
STOCK.—Authorized
$633,191
$1,916,644
OFFICERS.—Chairman, Frederick S. Fish; Pres., A. R. Erskine; Treas..
R. Feltes; Sec., A. G. Rumpf.
Directors—F. S. Fish, A. R. ErskineJ. M. Studebaker Jr., Geo. M. Studebaker, N. R. Feltes. L. J. Oilier, A. BThielens, F, Studebaker Fish, South Bend, Ind.; M. F. Wollering, Detroit
Henry Goldman, Arthur Lehman, A. Barton Hepburn, F. P. DelafieldII. II. Lehman, Waddill Catchings, New York.
N.
1920.
was
paid Oct
2 191R and
In Apr. 1920 paid $1 25 in cash and
share in stock.
REPORT.—For year 1919, in V. 110. p. 1297, 1411, showed:
Calendar Years—
1919.
1918.
1917.
$7,274,249
5,570,099
212,131
Cr. 105,129
600,000
$3,536,557
2,891,838
69,736
Cr.19,064
Dividends
375,000
375,000
Surplus
622,148
207,048
Net sales
Cost of manufacture.
Selling and general expenses
Interest and discount earned
Federal taxes 1919
(est.)
$4,483,315
3,375,981
77,637
Cr.45.081
1,074,778
MISCELLANEOUS COMPANIES
Date
Par
Amount
Rate
When
[For abbreviations, Ac., see notes on first page]
Bonds
Value
Outstanding
%
Payable
OFFICERS.—Chairman,
Allan
received by Commer
Ryan; Pres.l
A.
$100
500 &c
---
1919
10-yr 6% s f Debs auth 20.000,000 call 101. CPkxxxc*&r*
Superior Steel Corp—$11,500,000 common stock
1st pref 8% convcumred 115 aft Jan 1920 $3,500,000—-2d pref 8% conv cum red 115 aft Jan 1920 $2,000,000—-—
Swan & Finch Co—Stood *2.000.000
Sweets Co of America—Stock auth $5,000,000 ——----Swift & Co—Stock auth $150,000,000 as Increased in 1918__
lst M Kold m f red 102H—
FCxc»<Scr*
Gold notes $25,000.00) ca 1 (text)
___ Ic.vvvv.c*
Tenders for the sale of $90,000 were
100
100
1919
trust of Aug.
1915
9
was
Nego¬
vessels
—
15
—__
operations.:.
:
Expenses and taxes not apportioned to costs—_—
Interest, discount and other income
____
_
$5,309,931
1,024,967
712,731
—
Depreciation, inventory adjustment and contingent reserve
rubles and Russian accounts—
Net income
______
1,386,827
1,547,306
(subject to Fed. taxes) carried to sur. account.. $2,063,561
DIRECTORS.—Henry R. Carse, Pres.; L. Y. Spear, Henry R. Sutphen, Gregory C. Davison, Vice-Pres.; Thos. Cochran, E. C. Jameson,
11. C. Sheridan, A. L. Sheuer, Reginald B. Lanier, William H. Remick,
Isaac L. Rice, Jr., and H. A. G. Taylor.
N. Y. Office, 11 Pine St.—(V.
109, p. 987, 1186, 1898; V. 110, p. 368, 1082, 1297, 1857, 2199.)
SUN CO.—ORGANIZATION.—Incorp. in N. J. May 2 1901, successor
to the Sun Oil Co. of Ohio, organized in 1893.
Business comprises the
operation of certain allied and subsidiary companies which are operated
part of the general business of producing, refining, transportation and
marketing of petroleum products.
The property embraces the following:
(a) Producing wells in Oklahoma, Kansas, Texas, Ohio, Louisiana, Ken¬
tucky and West Virginia; (&) refineries at Marcus Hook, Pa., Toledo, O.,
Yale and Avoy, Okla.; (c) Transportation equipment 7 steel screw ocean¬
going tankers totaling 54,800 d.w. tons, 3 barges, also 775 steel tank cars;
(d) Pipe lines in Texas and Ohio; (e) Oil leases in Oklahoma, Kansas, Texas,
Ohio, West
Virginia, Indiana, Louisiana, Kentucky, Colorado, New
Mexico; (J) distributing stations, sales offices, &c.
as
companies to the extent stated;
RR_99.5%|The Sun Oil Line Co
over 99.6%
The Twin State Oil Co
99.4% I Hardwood Package Co__
t_94.5%
Sun Pipe Line Co..
over 95.8% (The Sun Oil Co
92.5%
Also holds in its treasury securities of these additional companies: Sun
Shipbuilding Co., over 79%; O'Connell Oil Co., over 69%; Augusta Wood
Products Corp.. 50%.
V. 108. p. 2028.
Controls the following
Delaware River & Union
BONDS.—Callable for the sinking fund at par.
The sinking fund on
this $6,000,000 retires semi-ann. beginning Nov. 1 1919, 1st year, 3%; 2d,
5%; 3d, 6%; 4th, 8%; 5th, 9%: 6th, 11%; 7th, 12%; 8th, 14%; 9th, 15%,
and 10th year, 17%; a total of 100%.
Addition debentures may be issued
for 75% of additions, &c., when annual net earnings equal 3 times deb. int.
on outstanding and
to the then issued debenturas.
The stock is closely
held.
V. 108. p. 2028.
*Fed.Taz's...
Pal., Sur.
$2,185,091
$20,847,267
2,185,091
9,361,975
Federal taxes accrued in 1918, one payable in 1919.
President. J. Howard Pew.—(V. 106. p. 2763; V. 108, p. 85, 2028;
Earnings—
6 yrs. '13 to '18
2 years 1917-18
Oross,
lncl_$119,750,137
66,119.669
Net.
$23,032,358
11,547.066
*
V. 109, p. 1280.)
SUPERIOR OIL CORP.—V
109, p. 1707; V. 110, p. 368, 1532, 2199-
STEEL CORP.—ORGANIZATION.—IncorpJ
in
V*
Dec. 22 1916 to acquire all outstanding stock of Superior Steel Co. of Car¬
negie. Pa.
Manufactures hot and cokf-rolled strip steel, which is used In
making pressed steel parts, replacing castings and machine parts for auto¬
mobiles, furniture, buildings, Sec.
No debt.
Plant covers 24 acres.
The official statement made to New York Stock Exchange in connee
tion with the listing of the preferred and common stocks, was In V. 104.
p. 1904, giving full particulars regarding the company's properties, sales
net profits, balance sheet. &c.
SUPERIOR
DIVIDENDS.—An initial dividend of $1.11
stock at rate of 8%
from Dec. 26
was
a
share
payable Feb. 15.
on
1st and 2d pref.
May 1917 to May
1920, 2% quar.
On com., No. 1, 1 A% on Nov. 1 1917; Feb. 1918 to May
1A % quar.; Aug. and Nov. 1919 paid % %; Feb. 1920, % %
and lA% extra; May 1920, 13^%.—V. 108. p. 2637; V. 105, p. 1315.
1919 paid
REPORT.—For year
1919, in V. 110, p. 965, 987. showed:
1919.
Gross
Net
sales
income.
$7,661,277
1,356,409
Sinking fund first preferred stock
do
second preferred stock
Reserve for excess profits tax
105,000
60,000
374,683
Dividends
588,404
Surplus
228,322
731,252
Profit and loss, surplus
New
C.
Chairman, James H. Hammond Pres.. E. W. Harrison: V.-P. & Treas
H. Foster, Sec.; II. D. Sarge; Asst. Sec. and Asst. Treas., Donald M.
109, p. 24.45; V. 110, p. 965, 987, 1297.)
Lid dell.—(V.
1918.
1917.
$8,961,862 $10,821,194
1.939,366
105,000
60,000
942,862
800,475
31,029
501,034
In
SWAN & FINCH CO.—ORGANIZATION, &C.—Incorp. In New York
1891.
Deals in lubricating oil.
Formerly controlled by Standard Oil
Co. of N. J., but segregated in 1911.
See Standard OH Co. of N. J.
V. 85,
p. 216. 790; V. 93, p. 1390.
In Nov. 1919 purchased Cataract Refining &
Mfg. Co. with largo 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 until
Aug, 1 at par to finance the increasing business. V. 106, p. 1583, 1685,
1905, 2015; V. 102. p. 1723.
Dividend paid March 31 1913, 5%; then none
till Nov. 1 1917. 2^%; May 1918.2^%; V. 105, p. 1315.
Sept., 2% extra;
Nov., 2y2%.
V. 107, p. 186.
May and Nov. 1919, 2^%.
Notes pay¬
able Dec. 31 1918, $600,000.
Earnings.
Net.
1914.
1915.
1918.
1917.
1916.
loss$89,635 profit$27.555 profit$63,062 prof.$203,469 profit$82,780
Divs
(7%)74,812
Fiscal year
(5%)56,187
has been changed to end on June 30.
1919).—Henry Fletcher, Chairman; W. G.
(formerly President of Cataract Co.), Pres.; II. O. Hutchins, V.Pres.-;. George Elliott Brown, V.-Pres. & Sec., and John T. Lee, V.-Pres, &
Treas.
Office. 165 Broadway. N. Y.—(V. 107. p. 18b; V. 108, p. 1826;
V. 109, p. 69, 1994; V. 110, p. 86.
)
OFFICEEiS oiectod in Nov.
Monericff
New
terminated Sept.
Gross profit from
on
6
SUSQUEHANNA SILK MILLS.—(V. 109. p.585.)
REPORT.—For cal. year 1919, in V. 110, p. 1082, showed:
[Submarine Boat Corp., Electric Boat Co., Electro-Dynamic Co. and
Subsidiaries.]
Gross eanings from construction and sales.____.
$93,991,824
Cost of construction and sales.88,681,893
Loss
50c
Phila., until Oct. 6 19 19
Win. N. Thompson;
subsidiary companies, V. 110, p. 2199.
V. 109. p.
i
150.000,000 8 in 1919
Apr 1 1920 2% New York and Chio«go
J
8c
J July 1 1044
5 g
AraExN Bk.N Y& FC
30.258,500
F & A 15 Aug 15 1921
N Y .Am Ex N B & Chic
500 &c
25,000,000
} «
clal Tr ust Co.,
strong demand for merchant ships will continue for several years.
are now in progress for the sale of a large number of these
Plans for entering other lines of business, V. 110, p. 1297.
1919.
Dividends are Payable
100
tiations
voting
987.
Places Where Interest and
Maturity
500 &c
1914
abroad."
STOCK.—The
and
7
Phila. & New York
May 11929
May 1 '20 IA
May 15 '20 2%
May 15 '20 2%
Nov 1
'19 2A 165 Broadway
8
See text
Last Dividend
Feb 7 1920
text
6g
8
1,847,500
text
1,434,900 See
100
10
SUBMARINE BOAT CORPORATION, N. Y.—ORGANIZATION.—
Incorporated at Albany, N. Y., Aug. 4 1915 with 800.000 shares of cap'tal
3tock with no par value, and on Apr. 30 1918 had Issued 765,810 thereof
(on a ten for one basis) for 76,531 or 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.
V. 110, p. 368.
In Sept. 1917 the Electric Boat Co. deferred action on its dividend owIhr
to capital requirements.
It was stated in Jan. 1920 that the company and the Emergency Fleet
Corp. of the Shipping Board had reached a contract settlement agreement
on war-time ship construction under which the company will lease the New¬
ark Bay shipyard until Nov. 15 1922, for $4,000,000.
At the expiration
of the lease the Government option on the site belonging to the city of
Newark will be turned over for $1,250,000.
Of the 150 ships originally
contracted for the Government agrees to complete 118, of which 88 have
been delivered, leaving 15 on the ways and 15 in the fitting basins; the
Submarine Boat Corp. will finish the remaining 32 itself.
V. 110, p. 269.
In the annual report for 1919, Pres. Carse said: "We are preparing to
build other standardized steel vessels of different dimensions as we believe
a
a6,890,000
6,000,000
6.000,000
2,431,500
100
F. Lewis; Treas., Geo. H. Saylor.
110, p. 1095, 1297, 1411, 1649, 1857,
F. E. Gunnison; Sec., Geo.
(V. 109, p. 484, 686, 984, 1898; V.
1979.)
V.-P.,
765.810.3hrs See
None
Submarine Boat Corp—Stock 300,000 shs no par vaiue
Sun Co.—Capital stock com 57,920,000—
a
o
INDUSTRIAL STOCKS AND BONDS
May, 1920.
2,784,475
860,000
25,833
931,279
530,332
437,031
466,926
SWEETS CO. OF AMERICA.—ORGANIZATION.—Incorporated in
Virginia about July 1919 and acquired entire outstanding Capital stock
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 Stores 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. C., 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 now share for each
two shares held.
V. 110, p.' 1533.
of the Sweets Co. of
EARNINGS.—The grass sales of the constituent companies for 1918 were
$1,323,033; net profits before Federal taxes, $1111,675.
Oct. 1919 sales,
$270,567; 10 mos. to Oct. 31 1919, $1,673,940. V. 109, p. 1898.
Leo Hirschfeld, Joseph Kaufman,
Fletcher, Leon Schinasi, Malcolm Summer, Calvin Truesdale;
Williams, Alfred H. Messing, H. B. Rosen, Peter J. Maloney,
DIRECTORS.—Milton Dammann,
H.
F.
Samuel F.
George L. Storm, Banjamin Block, and Henry A.
Fehn.—(V. 110, p. 1533.)
SWIFT & CO.—ORGANIZATION.—Incorporated m Illinois April I
1885.
V. 95. p. 1547.
Has packing plants at Union Stock Yards. Chicago;
at South Omaha, Kansas City. East St. Louis, South St. Joseph, South
St. Paul, Fort Worth. Milwaukee, St. Louis,
New York. Denver and
Boston.
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
tine
Compania Swift Internacional Ltd, under the laws of the Argen¬
Republic, with a stock of $22,500,000 Argentine gold, divided Into
as
I,500,000 shares of $15 each, all one class, fully paid and non-assessable, all
outstanding.
Each stockholder of the Swift & Co. of record Aug. 31 1918
was given until Oct. 15 the
opportunity of exchanging 15% of his holdings
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
subsidiaries for equal amount of stock of Swift & Co.obtalned the latter as a
quick asset, aince soid (see below), for requirements of business.
Meantime
dividend obligations are materially lessened. V. 107, p. 701, 910.
Dividends paid by Swift International: No. l, Feb. 20 1919. 8%; June
20, 8%; Feb. 20, 1920, 8%.
V. 108, p. 85.
V. 108, p. 1771.
Swift
international balance sheet as of Dec. 31 1918 in V. 108, p. 2130.
The aforesaid exchange in Oct. 1918 had reduced tne outstanding capital
stock to
$127,500,000 when the holders of record Oct. 26 were offered
until and incl. Nov. 30 the further option of exchanging one-tenth of their
($100) shares for an egual par value in the $10 sharee of the $12,750,000
stock of LIbby. McNeill & Libby (canners), held in Swift & CO.'s treasury.
This further reduced the stock to about $114,750,000.
The $35,250,000
treasury stock was offered at par to shareholders and employees in May
in
Swift & Co.
cional at par,
The
posit.
company
1919. V. 108, P. 2130, 688.
'
•
In Aug. 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 Interests, &c,
Swift shareholders of
record Sept. 10 1919 were allowed to subscribe as par in cash for two of the
$10 shares for each $100 sbarehelo in Swift & Co.
The National Leather
Co. started with $37,035,000 of assets (inch $1,003,000cash), offset by the
$30,000,000 stock.—V. 109, p. 782.
,
,
„oa
o
Reply in 1918 to report of Federal Commission, &c., V. 107, p. 188. 612,
808: V. 109, n. 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 general
to confine their operations to the wholesale meat business.—V. 109, p. 2363
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
and V.
St<The
applicable to payment for the new stock.
17||g ln Aug* 1919 23,000
See below
had subscribed for
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
Mav 18 on account of increased value of the property as shown by recent
appraisals.
V. 106. p. 1583. 1692. 2127, 2234.
Options 1918. see above.
DIVIDENDS.—1888 to 1894 Incl., 8%:'to 1895 Julv 1898 Incl., 6%;
Oct. 1898 to July 1915, 7%: Oct. 1915 to and Incl. April 1 1920.8% p. a,
(2%
Q.-J.)
On Oct. 20 1917 paid 2% extra.
Bale
MISCELLANEOUS COMPANIES
Date
Par
Amount
[For abbreviations, &c„ see notes on first page)
Bonds
Value
Out standing
Swift International (Comp. Swift Internaclonal)—Stock
ayracuse Liglit & Power—OolL trust M g red si 106 —Lq.xx
Syracuse Lighting Co first mortgage gold
..Ea.ncc*
Syracuse Gas Co 1st M g guar by Syracuse Lighting Co__xx
Temple Coal Co—
<2,600.000 g a f red 101
PeP.xc*
Tennessee Coal, Iron & RR Co—-Stock com $50,000,000 auth
First A coll trust M
General Gold Bond M $15,000,000 g
Un.xc*
Alabama Steel & Shipbuilding preferred 6% cum 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.sc*
100 Ac
H share., _x
1914
1,000
1901
1898
1892
1906
""ism
1,000
i.ooo
None
1915
500 Ac
1911
1,000
1920
1,000
See text
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¬
See Y. 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 1914.
V. 106, p. 2127.
Appraised value of physical properties Nov. 2 1918,
V.108,P.689.
the company 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 $50,000,000 1st Mtge. 5s on
Nov 1 1919 there had been issued and retired by s. f. $3,111,500; $30,258,500 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¬
shall be
a
first lien.
Sink¬
ing fund 2% per annum.
NOTES
OF
and
issued,
$25,000,000. V. 108, p. 688Redeemable 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)4 and int.; on Aug. 15 1920 at 101 and int., and on Feb. 15
1921 at 10034 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.
1919.—Auth.
REPORT.—Report for year ending Nov. 1 1919 in V. 110, p.165.
1918-19.
1917-18.
1916-17.
1915-16.
$
$
Business done.
Net earnings.
Dividends
$
$
1,200,000,000 1,200,000,000 875,000,000 575,000,000
13,870,181
21,157,277
34,650,000
20,465,000
(8)10,063,460 (8)9,000,000 (10)10000000(8)6,000,000
Balance, surplus-.
3,806,731
12,157,277
24,650,000
14,465,000
Pres., Louis F. Swift; Treas., L. A. Carton; Sec., C. A. Peacock.
Office,
p. 165, 368, 1095.)
Chicago.—(V. 110,
SWIFT
INTERNATIONAL
A
J Jan
A
J
J July 11924
May 1 1914
Q—F
Q—F
J
A
Jan
do
Dec
Dec
do
do
do
1 1931
do
do
1 1922
A
do
71 Broadway, New York
1 1930
A
5 g
Penna Co forlns.AcPhlU
1% Office, Birmingham, Ala
Nov 1 1919 2%
J July 1 1951
Jan 1 1920 3%
&
A
I1
do
Hanover Nat Bank, NY
May 15 1918 $1
MAN Nov 1 1925
lOin 1919
Q-M31
6 x
J
M
Company's office, N Y
*20 2H Checks mailed
31
Mar
J July 11931
S Mar 1 1923
&
78
14.798,000
&
Equitable Tr Co, N Y
See text. Q—M 30 See text
rp.
REPORT.—For cal. year 1919 showed: Interest received, $267,612; ex¬
penses,
$202,148; balance, $65,464; total surplus, $219,137.
ings.
BONDS.—The 1st 5s, dated July 1
1914 ($50,000,000 auth. Issue),
are secured
by all property, plants and branch houses and further by
the pledge of stocks of subsidiary companies representing an investment by
D June 1 1951
&
tB
8% Checks mailed
Equitable Trust Co, N T
New York & Philadelphia
1 1946
Guaranty Trust Co, N Y
J July 1 1954
&
f g
5 g
See text
10
See text
text
text Feb 20 *20,
text See
5 g
126,300
730,000
213.000
150.000
794,065shrs
al,326.000
Not including $1,000,000 pledged as collateral with Tenn Cop A Chem Co
tional real property upon which the mortgage
Maturity
See text
1,000
Places Where Interest and
Dividends are Payable
Dividend
and
5 g
894,000
32.528,698 See text
8
79,200
100
100
Tennessee Copper & Chem Corp—800,000shr» cap stock..
Sub Co—Term Cop Co 1st M g red Nov 1 *18 at 110 & int..
Texas Company—stock $130.000.000
Bonds (called for payment July 1 1920)—
Eqx
3-year s f notes call 101 auth $35,000,000
c*
Texas Pacific Coal 8c Oil Co—Stock $10,000,000
Last
Payable
7,959,740
2,500.000
2,500,000
1.000
1,000
_
Potter Ore 1st M $700,000 g guar jo (text) s f
When
%
■
15 l,500,000sh See
1907
1901
Preferred stock 8% cumulative
a
[Vol. 110.
INDUSTRIAL STOCKS AND BONDS
228
Results
Cal.
Year.—
for
Operating
1919.
Company,
Tennessee
I
1918.
Copper
Co.
1919.
1918.
Oper. profits.def$136,231
$922,681 j Dividend
_
$400,000
Int.,depr.,&c_
604,612
566,109 [Balance
-_def$740,843def$43,428
Production in 1919, copper (co.'s ore), 10,414,815 lbs. (against 9,819,838
in 1918); acid output, 266,627 tons, against 283,092 tons.
OFFICERS.—Adolph Lewisohn, Pres.; Sam A. Lewisohn, V.-P.; E. H.
Westlake, V.-P. & Treas.; F. M. Loper. Sec.
N. Y. office, 61 Broadway.
—(V. 110, p. 1420, 1857.)
(THE)
TEXAS
COMPANY.—ORGANIZATION.—Incorporated
in
7 1902 and Is engaged in the production, reQnine- and
dis¬
petroleum and its products.
In April 1920 held crude oil
Texas April
tribution
of
producing
properties
daily
with
production
of
50,000
barrels,
owning
247,000 acres in Texas, Okla., and La., and leasing 2,455,000 acres in
Texas, La., Olka., Kan.. Wyo., Mexico. Ac. Also controlled 2,310 miies.
of pipe line reaching Texas, Oklahoma and Louisiana oil fields, and owns 5
refineries (combined capacity April 1920,90,000 bbls. daily) located at Tulsa
Okla., Port Arthur, Dallas and Port Neches, 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 Hoskins
Mound, Brazoria County, Tex. V. 107. p. 1485.
The $14,000,000 stock of the Texas Pipe Line Co. and the $6,000,000
stock of the Texas Pipe Line Co. of Oklahoma is all owned. (V. 106, p. 186.)
The first named company on July 30 1917 took title to tne Texas Co.'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.
(Companla Swift Internacional).—See
Swift & Co. above.
SYRACUSE
LIGHT
&
POWER CO.—See Issue Feb
Under plan of Central Fuel Oil
1915
Co. dated June 23 1913, see plan V. 96,
Ac., V. 109, p. 1076, the Texas Co. guarantees
(under certain contingencies at a less rate, but not less
than 3%_per annum) on $6,000,000 preferred stock of the successor co.
(Central Petroleum Co., incorporated in Maine) till April 30 1923 , hav¬
ing at that date the option of paying off the pref. and thus acquiring per¬
manent ownership of $600,000 or the $900,000 common stock, and in the
meantime having complete control of the property.
(All the 1st mtge.
collateral 6s were paid off Oct. 1 1918).
V. 97. p. 524; V. 99, p. 819; also
V. 101, p. 1482; V. 105, p. 1106; V. 109, p. 580, 1076.
p.
TEMPLE COAL CO.—See issue of June 1918 and V. 106, p. 821; V. 110,
p.
1297.
TEMTOR CORN & FOOD PRODUCTS CO.- -(V. 109,
1994; Y. 110, p. 1194.)
p.
1468, 1531,
TENNESSEE COAL, IRON & RAILROAD COMPANY.—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 A Iron and Republic
Iron & Steel companies jointly purchased about 1,800 acres of Iron ore
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. 301899 the Alabama Steel A Shipbuilding Oo. plant was opened
at Ensley Olty.
The plant has 9 open-hearth furnaces, and is leased to
the Tennessee Goal, Iron & Railroad Co., which guarantees its
6% bonds,
of which $730,000 are outstanding and $130,000 in the Tennessee Coal &
Iron treasury and Its preferred 6% stock, of which $126,300 is outstand¬
ing and $313,700 in Tenn. O. & I. treasury.
V. 70, p 591.
The common
stock, all owned by Tenn. Goal, Iron & RR. Co., carries control. Y. 66.
p. 1002,1235: V. 67. p. 127, 801; V. 70. p. 1196; V. 72, p. 584.
In Nov. 1907 the United States Steel Corp. acquired substantially al of
the common stock, owning at Jan. 1 1918 all but $66,093 thereof.
\. 85,
p. 1212.1282; V. 80, p. 730.
In Dec. 1915 U. S. Steel Corp. had expended
$21,641,000 for Impts., and in June 1917 had appropriated $11,000,000
for further development work.
V. 104, p. 2457.
V. 92, p. 735; V. 94.
P. 844; V. 96. p. 871; V. 98.d. 923; V. 100.d. 991.
.
BONDS.—Of the $15,000,000 Gen. gold 5s of 1901, $7,208,000
were out¬
standing Dec. 31 1919 in the hands of the public and $5,115,000
were In
the
treasury or held by the U. 8. Steel Corp.; the $5,104,000 under¬
lying 6s matured and were paid Jan. 11917, 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 Goal
Mining Co. 1st M.
6s of 1892 and the $730,000 AlabamajSteel A Shlpbldg. Co. 1st M. 6s of
1898,
for both of which issues Gen. Mtge. Jbonds are reserved.
V. 103, p. 2244. V.
72, p. 876,940,989; V. 73. p. 86.55i. 1217; V. 77. p. 93,2162; V. 80, p. 169
OFFICERS.—Pres., George G. Crawford; V.-P., H. O. 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. 15830
TENNESSEE COPPER & CHEMICAL CORP.—ORGANIZATION.
—Incorp. in N. Y. Oct. 14 1916.
Organized as a holding company (per
plan in V. 103, p. 1512), with power also to do a mining and chemical busi¬
On Dec. 31 1919 owned 194,065 shares of the 200,000 shares of stock
of the Tennessee Copper Co. of N. J., whose properties include: 3
copper
mines, railway, smelting wks. (5 furnaces), sulphuric A nitric acid plants.
The contract to turn over its sulphuric acid output to International Agri¬
cultural Corp. was to terminate Dec. 311920, but In Mar. 1920 it was stated
that a new contract, expiring Dec. 31 1923 and modifying the old contract,
had been executed (V. 110, p. 1420).
In 1919, with view to more prof¬
itable employment for its output of sulphuric acid (then approximately
360,000 tons of 60 degrees Baume per annum), had out of the $5,000,000
proceeds of the new stock issue below mentioned bought a phosphate prop¬
erty in Florida and was proposingto construct a number of acid phosphate
fertilizer 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. Y. 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.
ness.
STOCK.—The stockholders on May 28 1919 auth. an increase in the
capital stock from 400,000 shares to 800,000 shares (no par value).
The
holders of v. t. c. of record June 9 1919 were given the right to subscribe
at
$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 $l paid in May 1918; none since.
V. 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 Copper Co. 3%
was paid in April 1916; none since until May
1918, when 8% was paid.
V. 107, p. 1389.
1842, and earnings,
dividends at 5%
STOCK.—Early in 1917 the outstanding stock was increased 25% to
$55,500,000 by sale of $11,100,000 new stock to shareholders at par
1918 similarly by $13,875,000, making $69,375,000 outstand¬
ing.
V. 104, p. 1270, 2123, 2348, 2558, 2656; V. 105. p. 78. 395. 613:
V. 106, p. 186,196, 404.
Shareholders of record Dec. 30 1918 were offered
$13,875,000 new stock at par In ratio of 1 share for 5.
In addition, $1,750,000 was sold at par to a trustee for allotment and sale to employees.
The shareholders voted Dec. 16 1918 to increase the total authorized issue
of capital stock to $85,000,000, of which $84,128,900 had been listed on
N. Y. Stock Exchange in Aug. 1919.
V. 108, p. 2637.
The shareholders voted Nov. 18 1919 (1) to reduce the par of shares from
$100 to $25 by subdivision; (2) to increase the auth. issue of capital stock
from $85,000,000 to $130,000,000 par, by the sale of $45,000,000, of which
$42,500,000 to be offered at par to stockholders of record Nov. 29 1919,
and the remainder, $2,500,000 par, to be sold at par to a trustee for allot¬
ment and sale from time to time to employees.
Payment for this $42,500,000 stock to be made in three installments, as follows: (a) 30%, on or before
Jan. 9 1920; (6) 30% April 9 1920; (c) 40% July 9 1920.
"Out of the pro¬
ceeds the company proposes to retire its debenture bonds ($14,798,000)
and also contemplates large extensions of plant and new acquisitions of
shipping and other property."
V. 107. p. 2383,1673; V. 108, p. 586; V.
109, p. 1615, 1994.
and in Jan.
Stock June ' 10
13-*14 Since.
8X
2X qu.
DEBENTURES.—Stockholders Mar. 4 1911 auth. $20,000,000 6% con¬
vertible (no longer conv.) gold debent. redeemable since Jan. 1 1915 on any
hot. day at 105 as a whole or in blocks of at least $100,000.
Sink, fund be¬
gan Oct. 1 1915.
V. 92, p. 398, 467. 597; V. 93. p. 875; V. 98. p. 843.
The $35,000,000 3-yr. 7% notes, offered at 99 A int. in Mar. 1920, are
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 of $2,500,000 to be applied to the purchase of notes at not
exceeding 100 A int. V. 110, p. 1194.
Record Since 1903-04. Fisca lYears (%)—Also 50%
Cash Dio.
*04-06.'06-07. '07-08.'08-09. '09-10. *10-11.'11-12. *12-13.'
12 yly.
15
12
12A5ex.
12
10
5
6
REPORT.—For year ending Dec. 311919, in V. 110, p. 1jl82, showed:
Year ended
Year ending June 30
Dec. 31 '19.
1917-18.
1916-17.
1915-16.
Gross earnings.—
Net earnings
-
$102,986,597 $80,260,634 $54,339,050 $37,708,382
Sink, fund A depr. acct.
Prov. for bad, Ac., accts.
Replac't of marine equip.
Add prov. for taxes
Dividends
29,204,117
34,873,403
6,768,228
90,962
673,511
3 ,OOO,0OO
7,718.750
5,297,988
Per cent of dividends.
(10%)
125,298
1,340,940
7,468,185
6,243,750
(10%)
22,907,924
2,047,217
136,180
15,746,733
1,647.315
200,557
f.obo'ooo
4,532,500
(10%)
3,350,000
(10%)
Balance to surplus._.$10,952,666
Total
$14,392,242 $15,192,026 $10,548,862
profit & loss surp_$77,505,491 $54,667,430 $40,270,189 $25,078,163
Chairman, E. C. Lufkin; Pres., Amos L. Beatty; V.-Ps., T. J. Donoghue,
R. C. Holmes, G. L. Noble, W. A. Thompson Jr., C. N. Scott and J?R.
Miglletta;; Sec., C. P. Dodge; Treas., W. W. Bruce.
N. Y. office, 17 Bat¬
tery Place.—(V. 109, p. 484,1615,1994; V. 110, p. 1182, 1297,1649, 2199.)
TEXAS PACIFIC COAL & OIL CO.—Owns 69,933 acres of coal and
oil lands In Texas, and controls leases covering 313,374 acres.
Since the
fall of 1917 the company has
produced from its leasehold
proper ties 6,910,-
795 bbls. of oil and has drilled 170 oil wells, 24 gas wells, ana 56 wells which
dry or could not be operated profitably.
Compare "Chronicle" of
May 29 1920.
Business consists of mining coal, producing oil and gas and
manufacturing brick, Ac.
In 1915 discovered oil and gas.
Deal with
Prairie Oil A Gas Co. in Feb. 1918, see V. 106, p. 720, 2015.
were
Date
Texas Power & Light Co-—Pref 7% cum red 115-2d pref cum. 0% to 1910. then 7% red convertible _
FirstM $30,000,000 auth gold red 105 begin 1917.. Raxxxc*
Tide Water Oil of N J—Capital stock 3100,000,000
Tobacco Products Corp—Com stock $20,000,000
Pref (a & d) 7% cum red 120 after 3 years 88.000.000
Par
Amount
Rate
When
Last
Dividend
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, Ac., see notes on first page]
Value
Outstanding
%
Payable
and
Maturity
previously pledg
Includes $1,250,000 sold in Dec 1918 but
Places Where Interest and
Dividends are
Payable
$3,550,000
$100
Q—F
May 1 1920 IK Checks mailed
See text.
do
do
100
450,000 See text
Q—F
J
&
D June 1 1937
5 g
Bankers Trust Co, N
1.000 al0.205,000 ;
See text
100
Mar31 1920 4%
Q—F
100
17,600,000 See text Q—F 15 MaylS'20 $1.50
100
8,000,000 7 in 1919
Q—J
Apr 1 1920 IK Checks mailed
7
2 yrs from date
984,000
1912
Dividend scrip (as of April 11919) see text
Transcontinental Oil Co—Stk 2,000,000 shs (no bonds out)
a
229
INDUSTRIAL STOCKS AND BONDS
May, 1920.)
None
ed for
gold note
Y
2,000,000
s
called and paid cff
V
REPORT.—For 1919, in V. 110, p. 1411; for
Voted April 17 1918 (V. 106, p. 1371): (1) To change the name from Texas
Pacific Coal Co. to "Texas Pacific Coal & Oil Co." (2) To authorize re¬
ducing the par value of the shares from $100 to $25 whenever the direc¬
tors shall 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.
On Oct. 5 the board had taken no
action on No. 5 above.
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
shareholders of record May 1 1919.
V. 108, p. 1615, 1516.
The stock¬
holders voted Nov. 19 to subdivide the $100 shares into ten shares of $10
each.
V. 109, p. 1468, 1898.
The stockholders
April 21 1920 anthorized an increase in the capital
on
stock from
000
$6,000,000 to $10,000,000 par $10).
Of the new stock, $2,000,offered to stockholders of record May 22 1920 at par.
V. 110, p.
was
2199.
In
Nov.
1919 the shareholders were given the right to subscribe at par,
share, for the $600,000 stock of a new earthen products company,
probably to be known as the Thurber Earthern Products Co.
V. 109, p.
$10
a
1898.
REPORT.—First annual report for calendar year 1919 shows: Gross
earnings, $20,112,266; oper. profit, $15,579,321; other income, $6,742,371;
depreciation, depletion, oil & gas devel. and Federal taxes, $16,913,081;
dividends, $1,399,818; surplus, $4,008,793.
•Tune '09.
Oct. '09.
2% stock
2
DIVIDENDS.—Mar.'09.
Since 1908
An
„___
extra
IK
'10 to Mar. '20-
6%(1^ Q-J)
Extras.
Below.
of
5% in cash was paid Oct. 30 1918; also Dec. 31 1918 and
In June 1919 paid an extra of 7K% and in Sept. 11%
extra was paid.
In Jan. 1920 5)4 % extra; April 1920, 5K % extra.
V. 109,
p. 1086, 2363.
Chairman, Edgar L. Martson; Pres., J. Roby Penn; Sec., S. Mims, 24
Broad St., N. Y.—(V. 110, p. 1195,1297,1755,1979, 2199.)
March 31
1919.
TEXAS PACIFIC LAND TRUST—(V. 107, p. 2287; V. 109, p.
1898.}
CO —ORGANIZATION, AC.—Incorp.
lighting properties in Texas.
Does
entire commercial electric light and power business in 95 communities, and
gas business in Waco, Cleburne, Denison, Brownwood and Paris.
Co.
supplies at wholesale, under long-term contract, all electrical energy for
the elec. light & power co. in Corsicana and supplies at wholesale electric
energy to Corsicana and Terrell.
Total population served is estimated at
TEXAS POWER & LIGHT
May 27 1912 in Texas and took
326 975.
Controlled
over
Southwestern Power & Light Co. by ownership of all
and the entire common stock
($10,000,000) except
See American Power & Light Co. on a preceding page.
V. 95, p. 1126; V. 96, p. 1428; V. 97, p. 954; V. 102, p. 1442.
Has import¬
ant long-term contracts with the Texas Electric Ry. Co, for supplying it
with electrical energy, &c.
Also supplies the street railways in Paris,
Temple and Belton and the Southwestern Traction Co.'s interurban rail¬
way between Temple and Belton.
V. 95, p. 970.
Is inter-connected with
Fort Worth Power & Light Co. and Dallas Power & Light Co. for inter¬
change of power to insure reliability service.
Description, see V. 97, p. 114;
V. 99, p. 1915.
The stockholders on July 5 1910 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
2d pref. stock is convertible by lot into pref. stock when net earns, for 12
months within previous 14 months equal twice dividend requirements on all
outstanding pref., together with that to be issued in exchange.
Both pref.
and 2d pref. were originally authorized as "preferred/' but some of the
outstanding pref. was subordinated and made 2d pref.
The $4,000,000
here includes the 2d pref.
Div. on pref., 1 K% quar., paid May 1912 to
May 1 1920.
Paid on 2d pref., 6% per annum from date of issue, Jan. 1
1916; 7% per annum since (1 K% Q.-F.).
by
the
2d preferred
directors shares.
BONDS.—The 1st 5s
($30,000,000 auth.)
are
issuable for 80% of cost
of extensions and additions, but only while annual net earnings are equal
to twice interest on bonds, Including those to be issued.
Bonds are re¬
Interest day at 105 and int. (or in part by pur¬
chase for sinking fund) on 6 weeks' published notice.
In Dec. 1918 the
amount in the hands of the public was increased to $10,205,000 by the sale
of $1,250,000 theretofore pledged to secure $900,000 gold notes of 1917,
called for payment.
See below, V. 107, p. 2383.
Two-year gold notes of 1917 authorized, $4,000,000; issued, $900,000,
secured by pledge of $1,250,000 1st M. 5s of 1912. V. 105, p. 722.
The
$900,000 outstanding were called for payment Jan. 6 1919.
V. 107, p. 2296.
deemable
as a
whole
on any
-April 1-Mar. 31
1919-20.
EARNINGS.—
Gross
Net
_
___
_
See Amer. Pow. & Lt.
Other
$5,165,869
CO
OF
stockholders.
Dividends cash
__
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 & Co., Inc. (N. Y.), Melachrino Tobacco Trading
Co., Inc. (N. Y.), Nestor-Gianaclis Co. (Me.), the Surbrug Co. (N. J.),
Khedivial Co. (N. Y.), Schinasi Bros., Inc. (N. Y.), Prudential Tobacco
Co., Inc. (N. Y.), Falk Tobacco Co., Inc. (Va.), and approximately 50% of
the capital stock of Stephano Bros,. Inc. (Va.), which companies own,
among others, such well-known brands of cigarettes as Melachrino, Schinasi
Bros. Naturals, Rameses, Milo, Nestors and Herbert Tareyton, and also
own prominent brands of smoking tobaccos and little cigars.
In Jan. 1919
purchased Robert Harris & Bro., Inc.
V. 108, p. 282.
Merger negotiations in Dec. 1918, V. 107, p. 2194.
These companies carry on an extensive business throughout the U. S.,
and also operate factories and depots in New York, Richmond, Philadelphia,
Cairo, Athens, Cavalla and Smyrna.
In Feb. 1919 purchased the business and assets of Philip Morris & Co.,
Ltd., of New.York, and transferred same to a new Virginia corporation with
an authorized capital stock of $3,000,000, 300,000 shares (all of $10 par
value) of these, 265,000 shares were subscribed for by the Tobacco Prod¬
ucts Corp. at $4 per share, which in turn offered to its shareholders 256,000
shares 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.
689, 789.
v
In 1918 Fed'l Trade Commission alleged unfair practices; V. 107, p. 1673.
preferred stockholders of record July 1 1919 had the
per share for 256,000 shares v. t. c. of no par value,
(of N. Y.), total auth. issue, 450,000
shs., 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.
The
common
and
right to subscribe at $10
of the Tobacco Products Export Corp.
967.
The American Foreign Trade Corp. was
to be made
50% Feb. 2 1920,25% April 6 and 25% July 6.
An allotment of
20,000 shares to the employees was also voted on terms to be decided later.
Stock of subsidiaries held by outsiders Dec. 31 1919, $101,338.
No bonds.
DIVIDENDS.—
Extra
Regular.
July 1916.
1917.
1918.
1919.
Mar. 1920.
1%
12 % 10stk.
11%
8%
2%
Paid 8% per annum, 1899toMarch311920, inclusive.
organized in May 1919 with an
of conducting an export
authorized capital of $20,000,000 for the purpose
and import business with the Near East.
Stockholders of record Feb. 16 1920 were given
•
the right to subscribe for
256,000 shares of the common stock of the American Foreign Trade Corp. at
$7 a share on the basis of share for share of their holdings of pref. and com.
stock of the Tobacco Products Corp.
V. 110, p. 368, 877, 967,
CAPITAL STOCK.—The stockholders voted Dec. 10 1918 to Increase
the common stock from $16,000,000 to $20,000,000 in connection with
the stock dividend of 10% payable Jan. 15 1919, increasing the outstanding
common to $17,600,000.
V. 107, p. 2015; 2383.
The
preferred stock (total authorized issue $8,000,000) has preference for
call, all or part, on any dividend date at 120% of
assets and is subject to
par and divs.
No mortgage can be placed on
consent of two-thirds of all outstanding stock.
V.
power.
103,
p.
DIVIDENDS—
the property without the
Stocks have equal voting
2339.
1913.
1917.
1916.
1915.
1914.
1918.
1919.1920.
——7% annually (1 % % Q.-J.)—-—————See
(cash)___
$1 50
$1 50
$3 00 text
$4 50
$3 00
Common (scrip)_x_
...Jan.,10
Common
(stock)
x 2-year 7% scrip.
Scrip Issued in Feb. 1919 could optionally be sold
to banking house at par till March 1 1919.
V. 108, p. 282.
Series "A"
div. certif. issued May 15 1918 and due May 15 1920, were paid on the latter
date.
In Feb. and May 1920 paid $1 50 quar.
REPORT.—For calendar eyar 1919, V. 110, p. 967, showing:
Preferred.
Common
___
___
—
___
_
Results
Excess profits tax (for previous
Preferred dividend (7%)
1917.
$3,276,282
$2,006,209
1,313,583
560,000
128,611
1919.
year)
_
do
in
Balance,
not
^
.
Common dividend, cash
1919
1918.
$2,072,886
for Calendar Year—
Net income
\ 1,055,896/
f
scrip
surplus
(Federal
deducted).
I
556,016
240,000
720,000
514,500
240,000
taxes
def.$856,593
$1,631,655 $1,251,709
Apr. l-Mar. 31——
1919-20.
1918-19.
$3,657,448
$3,324,080
1,244,57
1,078,311
DIRECTORS.—Chairman, James M. Dixon, Reuben M. Ellis, L. B.
McKitterick, William H. Butler, James M. Dixon, Gray Miller Irancis M.
Collier, Albert Falk, J. L. Hoffman, Norman E. Oliver, H. Mason Day,
Thomas N. Word, George L. Storm, Elmer Slipner and Stephano Stephano.
N. Y. office, 1790 B'way.
Pres., James M. Dixon; Treas., Gray Miller.—
(V. 110, p. 877, 967, 1979.)
|
TODD SHIPYARDS CORPORATION, N. Y.—(V. 109, p. 886; V. 110,
.
Gross
p.
15 1919 to increase the capital
$375,223
OFFICERS.—Pres., R. D. Benson; V.-P. & Treas., W. S. Benson; 2d
V.-P. & Asst. Treas., D. Q. Brown; Sd V.-P., Robert McKelvey; Sec.,
Byron D. Benson.—(V. 110, p. 1195, 1411, 2199.)
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
STOCK.—The stockholders voted Dec.
$6,137,978
2,298,211
3,115,498
66,350f
292,110
1,323,480(16)5246,412(19)6,060929
surplus
$2,230,263
$3,660,258
Profit and loss surplus Dec. 31 1919, $11,707,666.
■
-
Net
stock 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, payments
$4,080,915
667,780
12,419
__
_
Balance,
Incorp. in N. J. in Nov. 1888.
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
N. Y. Stock Exchange in 1917, upon listing of stock, in V. 105, p. 79, 82,
1426, 2100, 2372.
470,558
$991,415
taxes
Outside
1918-lg.
NEW JERSEY.—ORGANIZATION.—
Producing, transporting and refining crude
oil.
Owns (1) through subsidiaries producing properties in Pa., W. Va.,
Ohio, Illinois, Okla., Ky., Kan. and Texas; (2) refinery at Bayonne, N. J.,
on New York Harbor (capacity 12,000 bbls. daily), with private docks to
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 coal regions of Pennsylvania,
to Stoy, III., whence via the Illinois pipe line and the Prairie pipe
line,
OIL
15,511,176
668,881
$5,225,357 $15,352,146 $15,981,734
Income
EARNINGS.—
WATER
14,683,265
59,488
income.
Depreciation and depletion
Federal
1920, V. 110, p. 2199
1919.
1918.
$46,828,784 $40,644,352
mos.
$14,280,821
_
incorpe.
Total
3
1920 (3 mos.)
business
Operating
$3,657,448
$3,324,580
1.244,576
l,078f3n
Co., V. 102, p. 1434.—(V. 107, p. 612, 1751, 2296.
2383.)
TIDE
Calendar Years—
Total
I—-
877.)
TRANSCONTINENTAL
OIL
CO.—ORGANIZATION.—Incorp. in
Delaware June 27 1919 as a merger or
amalgamation.—Properties (a) owns
by lease 996,973 acres of oil and gas lands as follows: 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., &c.) 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
in fee or controls
from the Inland
refinery to the Duke and Knowles pool with branches to the
miles.
Ranger and Caddo fields, in all, 96
_
Complete statement to the New York Stock Exchange, &c.
V. 109, p.
988. 1180, 1373.
Arrangement with Arkansas Natural Gas Co., V. 110, p. 977.
Par
Amount
Value
Outstanding
Transue & Williams
Cheboygan Paper Co 1st M gu due$100,0Q0 yly call par Emc*
Union Carbide & Carbon Corp—Stock 3,000,000 shs no par
Union El L & P. St Louis—
Pref stock 7% non-cum call 105 $8,040,000-.
$100
$9,000,000
100
3.900.000
1905
1,000
500 &c
100
MSt.xxc*
.....
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 & Co., N. Y. and E. W. Clark & Co., Phiia. (V. 109,
p. 79).
No funded debt.
Pres., A. B. Dally, Jr.; Sec., T. R. Cowell; Treas.. Ed. Kuppor.—(V. 110,
p. 772, 977, 1755.)
■:"
listed
TRANSUE & WILLIAMS STEEL FORGING CORP.—ORGANIZA¬
TION.—Incorp. in N. Y. Oct. 26 1916 as successor of company of similar
name (organ. In 1898).
Manufactures steel forgings,stamping forms,etc.
STOCK.—Capital stock, auth. Issue, 110,000 shares; no par value,
100,000 shares listed on N. Y. Stock Exchange in Jan. 1917 (V. 104, p. 368).
Bankers offering stock, Hornblower & Weeks, Domlnlck & Dominlck and
Kissel, Klunlcutt & Co. (V. 103, p. 1691).
No funded debt.
DIVIDENDS.—1917. Jan. and April, $1.
In July 1917 Increased the
dlv. to $1 25.
Oct. 1917 to Apr. 1920, $1 25 quar., both incl.
quar.
REPORT for calendar year 1919 in V. 110, p.
Gross
Net
Other
Federal
559:
Dividends
Balance,
Earnings.
Income.
Taxes.
Paid.
Surplus.
1919
$6,934,777 $916,796 $69,191 $250,000 ($5)$500,0001235,988
1918
6,298,301
728,865
60,737
275,000
(5) 500.000
14,601
1917
6.749.771 1,181,355
58,731
360,000 (434)475.000 405.086
Pres.. O. F. Transue: V.-P., Frank Transue; Sec.-Treas., F. E. Dussel.—
N. Y. office. 14 Wall St.—(V. 110, p. 473, 559.)
Sales.
-
TRIANGLE FILM CORPORATION.—V. 109. p. 267.
TRUMBULL STEEL CO.—(V. 110, p. 568,165d, 1979, 2200.)
UNDERWOOD TYPEWRITER CO.—ORGANIZATION.—Incorp. In
Delaware.
V. 90, p. 632.
Manufactures "visible" typewriter.
V 86. n.
1359.
Factory, Hartford, Conn.
During 1919 brought out new product
known as "Underwood Standard Portable Typewriter.
V. 110, p. 960.
STOCK.—Pref. stock, see V. 90, p. 788.
An 1917 retired $160,000 pier.,
making $1,100,006 of the $5,000,000 pref. acquired and canceled.
V. 103,
p. 1797.
Notes payable ($900,000) were all paid off in 1916.
In March
1917-18 $500,000 common stock was auth. Issued undqr 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 1920, 1%% quar.
On
stock, July 1 1911 to April 1917, 1% quar.; April, 2%; July and Oct.
1917, 1
1918, Jan., lj^% and 5% extra from accumulated surplus;
com.
April, July and Oct., \lA% quar.
1919, Jan., llA% and 5% extra; April,
2%; July, 2%, and 5% extra in U. S. Victory bonds; Oct., 2% cash; in
1920, Jan., 2% and 5% extra in casn; April, 2%; July, 2% cash and 5%
in Victory notes.
REPORT.—Report for cal.
1919 in V. 110, p. 666:
Depre- Pref.Div.
Common
Balance,
(7%).
Dividends.
Surplus.
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 J. 3.271.971
500,000 244,405 274,750 (11) 944,500
*980,653
1916
2.624,190
244,452
302.750
(4) 382,500
*1,401,090
*
After deducting profit-sharing to employees.
Cal.
Total Net
Year:
Taxes.
year
Federal
Income.
ciation.
-
OFFICERS.—Pres., John T. Underwood; V.-P., Clinton L. Rossiter;
Treas., De Witt Bergen; Asst. Treas., Jno. J. Hlnchman: Sec., L. W. Guern¬
sey.
Office, 30 Vesey St., N. Y.—(V. 109, p. 686, 1899; V. 110, p. 666,
966, 2083.)
BAG
UNION
&
PAPER CORPORATION—ORGANIZATION.—In
corporated In New Jersey Oct. 4 1916 as a merger, per plan in V. 103, p.
244, 762, of Union Bag & Paper Co. and its sales agent, the Riegel Bag &
Paper Co.
In this merger the $27,000,000 stock of old Union Bag & Paper
Oo. ($11,000,000 being pref.), 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. & i.
V. 103, p. 2436, 2161: also then purchased
for cash Badger Bag & Paper Co. of Wausau, Wis.
V. 104, p. 262.
Owns $3,750,000 of the $5,000,000 outstanding 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
& Paper Co., and undertook the erection of a newspaper mill, &c., at Cap
Madeleine, P. Q. The St. Maurice Paper Co. soldjn 1916 $1,500,000 1st M.
conv. sinking fund 6s, part of a $5,000,000
Issue duo Jan. 1 1946.
V.
103, p. 148; V. 109, p. 1085.
.
STOCK.—The stockholders voted
May 4 1920 to increase the capital
Of tne new stock $5,000,000 was
50% stock dividend on May 20 to holders of record May
10.
Of the outstanding stock, $66,400 was held Dec. 31 1919 for exchange
under merger plan.
stock from $10,000,000 to $2j,000,000.
distributed
as
a
DIVIDENDS (New Co.)—Dec. 15 1916 to Sept. 15 1919, 6% p. a.
(134% Q.-M.); Dec. 1919 to June 15 1920, 2% quar.
Also extra div.
Feb. 1917, 2% cash, and on Nov. 15 1917, Jan. 25 1918 and Feb. 15 1919,
eafqh 2% in Liberty Loan bonds.
BONDS.—As to
Paid 50% stock div. on May 20 1920.
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, $2,553,000 on Dec. 31 1919 were out¬
standing, $1,609,000 were in sinking fund and $944,000 in treasury. 1
REPORT.—For 1919, in Y. 110, p.
Year
eliding—
Net earnings.
Depreciation
Other income.
Interest
Federal
taxes
Dividends
Balance, surplus
Profit and loss surplus.
*
After
000,000
3,198,000
C9.600 000
457,000
2,500,000
J
semi-an
M
ee
Checks mailed
233'Broadway
July l 1930
To 1934
N Nov 1 '20 to *26 N Y.Empire Trust Co.
&
T
$1.25 By check
Apr 1 '20
58
65g
A
Louis, Mo
J & D 15 July
7
St
N Y Office. 30 Broad St
VI
6 g
\f
•
g
A
&
In 1918 See
N May
O
text
Nat Bk Com, St Louis
New York and St Louis
N Y Office, 30 Broad St
I 1933
New York
151920
New York
April 1 1923
Julyl5l9l9 2% Corn Exch
403,800
5 g
5g
M
&
Bank,
N
Cen Un Trust Co, N
MAN Nov 1 1920
303,300
|
do
text.
Q—M30 See text.
A
S Sept 1 1932
May 1 1921
Q—F
F
&
A Aug 11927
7
3,009.000
Payable
Y
Y
N Nov 1 1965
Bankers Trust, N Y
F & A 15 Feb 15 1925
2,150,000
9,840,000 10 In >19 Q—J 15 Apr 15 '20 2V%
Colonial Trust Oo, Pittab
A
&
O To Apr 1926
6 g
1,663,000
OFFICERS.—Chairman, August Heckscher; Pres., M. B. Wallace
V.-Ps., O. R. McMillen and E. B. Murray; Treas., M. B. Wallace; Sec.,
Sanders.
Office, Woolworth Bldg., N. Y.—(V. 110, p. 1297,
1412, 1650, 1755, 1979, 2083.)
Charles B.
UNION
CARBIDE & CARBON CORPORATION.—ORGANIZA¬
TION.—Incorporated In New York Nov. 1 1917 (V. 105, p. 1426, 1718;
V. 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. Sec.: 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, &c.; 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 Co. (V. 104,p. 668), the Prest-OLlte 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., Oxweld 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., $750,000.1
CAPITAL
Issued and
STOCK.—Authorized.
outstanding Oct,
1919
,
3.000.000
2,533,633
shares
(no
par
value)
shares.
had the right to subscribe for 406,857
shares of additional stock at $40 per share to the amount of 20% of their
holdings, the stock to bo offered in two portions, 50% to be subscribed
and paid for Jan. 15 1919 and the balance on or before April 15 1919.
V. 107, p. 2195, 2482.
ANNUAL MEETING.—Third Tuesday In March at N. Y. City.
Stockholders of record Dec. 12 1918
DIVIDENDS.—An initial dividend of $1 per share was paid
Dividend No. 2, $1 per share, paid April 2
1918 to Apr. 1920, paid $1.25 quar.
1918;
July
1918,
Jan. 2 1918.
$1.
Oct.
DIRECTORS —C. K. G. Billings, Charles A. Coffin, George C. Knapp,
Brady, G. W. Davison, Milton Ferguson, F. O.
Walcott, New York; James Par melee, Myron T. Herrick, Andrew Squire,
Cleveland; Roger C. Sullivan, Chicago; James A. Allison, Indianapolis.
Executive Committee:
C, K. G. Billings, Charles A. Coffin, George O.
Knapp, Nicholas F. Brady, New York; Myron T. Herrick and James
Parmelee, Cleveland.
Jesse J. Ricks, Nicholas F.
OFFICERS.—Chairman of Board, Myron T. Herrick: Pres., George O.
Knapp: Vice-Presidents. Edgar F. Price, Giles W. Mead, M. J Carnev
H. E. Hackenberg; Treas., Giles W. Mead.
Office, Carbide and
Carbon Bldg., N. Y.—(V. 108, p. 1171; V. 106, p. 686, 1408.)
Sec.,
UNION ELECTRIC LIGHT & POWER CO., ST. LOUIS.—ORGAN¬
IZATION.—Incorp. In Missouri in Sept. 1903 (V. 77, p. 40. 774). and In
Utilities Co. and thereafter purchased
property of the Electric Co. of Missouri (V. 104, p. 458).
Does practically
all of the electric lighting business of St. Louis.
Has a 10-year contract
to supply public city electric lighting till Sept. 1 1920.
V. 96, p. 793.
Steam power generating plant in May 1918 76,000 k. w. scheduled to be
Increased in 1918 to 96.O0O k. w.
Also receives hydro-electric power from
Jan. 1917 merged with Perry County
MLssLssippl River Power Co.
Rates 1918. V. 107, p. 186, 2296. 2383.
In Oct. 1919 was reported to be planning the construction of a power
a daily generating capacity of from 60,000 to 100,000 kw. h. at
a cost of about $7,000,000.
V. 109, p. 1468.
plant with
STOCK.—Total authorized stock, as Increased In May 1918, $22,240,000
(par $100 a share), viz.: (a) Common, $14,200,000. of which $11,015,200
outstanding, all except directors' shares owned by North American Co.
(Including $500,000 purchased at par for cash in May 1918; (&) 7% non cum
preferred $8,040,000, of which $2,317,700 was outstanding Dec. 31 1919.
V. 105, p. 1110; V. 104, p. 1904
2016.
,
COMMON
DIVIDENDS.—1906
6% yearly (Q.-J.).
and
Since not reported.
1907, 5%; 1908 to June 30 1915,
Also some small extra payments.
BONDS. &c.—In 1908 filed a Ref. and Extension Ml. for $50,000,000
It
the bonds,
59,600,000 have been sold, $10,000,000 are reserved to
"etire underlying bonds and the remaining $30,400,000 are Issuable for not
over 85% of cost
of extensions and Improvements, on condition that the
net earnings are 50% In excess of Interest on bonds, lncl. 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.
In 1918
sold
on
account
of extensions
and additions $1,500,000 of
an auth. $2,000,000 Two-Year 6% bond secured gold notes dated Mar. 15
1918, secured by 150% of Ref. & Extension Mtge. 5s, due 1933, and $500.000 2-year 6% secured gold notes dated June 15 1918, secured by 1st Mtge.
bonds and capital stock of Union Colliery Co.
V. 106, p. 1466; V. 107, p.86.
The 3-year 7% Conv. Debentures are callable, all or part, at 101 and int.
to Apr. 1 1921. at 100A and int., thereafter to April 1 1922, and at 100%
and int. thereafter.
Convertible until Feb. 1 1923 into an equal amount
of Ref. & Ext. Mtge. 5% bonds due 1933, plus $150 in cash for each $100
debenture converted.
The
off
on
$1,300,000 bond-secured 6% gold notes due Mar. 15 1920 were paid
that date.
EARNINGS.—Year
ending
Dec.
31
1919
(incl.
Elec.
Co.
of Mo.
&
Perry Co. P. U. Co.), gross, $8,153,407; net, after taxes, &c., $2,264,314;
interest charges, $1,128,980; bal. for divs., $1,135,334.
OFFICERS.—Pres., Louis H. Egan; V.-P., C. S. Ruffner;
Treas., Hermann Spoehrer; Asst. Sec. & Asst. Treas., J. F.
108, p. 387; V. 109, p. 1468.)
N. Y. office. 30 Broad St.—(V.
Sec. and
Fogarty.
,
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.
1297, showed:
Dec. 13 '19.xDec. 31 '18. Jan. 31 '18.
$2,335,255
$2,619,173
$o,131,106
348.221
460,710
261,006
Cr. 140,625
Cr.46,375
188,812
187,151
211,619
258,228
601,467
555,765
(8^)836.062
(6)589,074
(10)988,438
$844,557
*$3,918,987
$827,645
$3,174,715
$1,114,278
$2,347,070
adjustment of $70,286 Federal taxes for 1918,
—M 15S
Q-J
2,317,700
26.202,000
—
EARNINGS.—The report for the"5 months ended Dec. 31 1919 shows:
Sales, $2,318,905; material cost and operating expenses, $1,777,309; net
income, $540,696; miscellaneous income, $56,337; total income, $597,033;
administration and selling expenses, $236,586; loss on drilling non-producing
wells, $176,384, and net profit, after provision for Federal taxes, $184,063.
V. 110, p. 977, 772.
July 1 '20 IH%
&
are
Apr 15 20 $1.25
See text
O-T
J
Where Interest and
Dividends
Q-J
(J—J
2,533,261sh
1902
1,000
1,000
1891
SStxx
1897
1,000
Kxxc*
Kef & Ext Mt50.000.000gred 110 OegMay'lS-Ba&MSt.xc*
1908
1,000
1,000
1918
Two-year 6% secured gold notes (auth $500,000
i.OOO
Convertible debentures call text1920
Eq.xxxc*
100
Union: Ferry—Stock
100 Ac
1890
1st M. gold callable at 110 (amount as of Sept 26 1918)—
Union Light, Ht & Pow Co, Covington, Ky—
1915
Fifty-year gold bond s$5,000,000 (s f guar O G & El)
IstM 5-yr bonds $5,000,000 auth. call 102 Feb 15 '23, then
100 &c
100
UClxxxr* 1920
100
Union Natural (las Corp—Stock $10,000,000
1,000
1913
Serial bda $6,000,000 auth gdue $500,000 ann red -CPlxc*
Bonds of affiliated companies (see text)
15 191 8.
c Excluding $1,950,000 securing collateral notes of March
1st M g
Missouri Electric Light & Power 2nd Mtge gold
Missouri Edison Electric Co 1st Consol Mtge
and Maturity
See text
'V
None
Places
Last Dividend
7 In 1919
15.000.000 See textQ
2.447.000
150,000
5 g
700.500
100
1916
%
shs T9 $5 00
None 100,000
Steel Forging Corp—Stk 110,000 shs
Underwood Typewriter Co—Common stock $9,000,000 auth
Hrelerred 7% cum (a & d) red 125 $5,000,000
Union Bag & Paper Corporation—Stock—
First mortgage $5,000,000 gold red 105 sinklngfund.Ea.xc*
Allen Bros Co 1st M $50,000; 2d M $100,000 8asarnea_-_.
When
Payable
Rate
Date
Bonds
MISCELLANEOUS COMPANIES
I [For abbreviations, &c., see notes on first pageJ
[Vol. 110.
BONDS
AND
INDUSTRIAL STOCKS
230
x
Eleven months.
Apr. 1919 outstanding bond issue
90, p. 114; V. 97. p. 1827.
In
DIVS.
1898.
3A
1899.
had been reduced to $403,800.
1900 to Jan. 1908.
1909 to 1915.
V.
1916 to Jan. 1919.
3
2 yearly.
3 yearly.
4 yearly (2 J.-J.)
Pres., Thos. Read; Asst. Sec. & Treas., John O'Brien.—(V. 106, p. 819.).
Per cent.
_
UNION NATURAL OAS CORPORATION—ORGANIZATION, <fco.—
Inoorp. In Delaware May 24 1902 and acquired various gas properties In
Penna. and Ohio.
On Deo. 31 1919 owned 663,121 acres of gas lands and
also one-half Interest In 56,374 acres in W. Va. (Reserve Gas Co.).
DIVIDENDS.—Dividends 1903 to 1906, 8% yearly; 1907 to 1918, 10%
yearly; April 1919 to Apr. 1920 paid 2)4% quar.
i
am
INDUSTRIAL STOCKS AND
TTansue & Williams Steel
Date
first page)
Par
Amount
Rate
When
Last Dividend
Value
Outstanding
%
Payable
and Maturity
$100
$9,000,000
100
First mortgage $5,000,000 gold red 105 sinkingfund.Eq.xc*
Allen Bros Co 1st M $50,000; 2d M $100,000 assumed
Cheboygan Paper Co 1st M gu due $100,000 yly call par Emc*
Union Carbide & Carbon Corp—Stock 3,000,000 shs no par
15.000.000 See textQ —M 15S
1916
J
5 g
M
Ref & Ext M$50,000,000 gred 110 beg^^ay,i8-Ba<4MSt.xc•
Two-year 6% secured gold notes (auth $500,000——__
Convertible debentures call text
Eq.xxxc*
100
1902
1,000
1891
1.000
1,000
1,000
1897
1908
1918
1920
1,000
i.000
2,317,700
7*6.202,000
600,000
3,198,000
c9.600 000
457,000
2.500,000
1890
100 <fec
callable at 110 (amount as of Sept 26 1918)—
Union Light, Ht & Pow Co, Covington, Ky—
1915
Fifty-year gold bond s$5,000,000 (s f guar O G & El)
1st M 5-yr bonds$5,000,000auth. call 102 Feb 15 '23, then
100 &c
100
UCIxxxr* 1920
100
Union Natural (las Corp—Stook $10,000.000
—
1,000
19l3
Serial bds $6,000,000 auth gdue $500,000 ann red .CPlxc*
Bonds of affiliated companies (see text)
15 191 8.
c Excluding $1,950,000 securing collateral notes of March
1st M. gold
EARNINGS.—The report for the"# months ended Dec. 31 1919 shows:
Sales, $2,318,005; material cost and operating expenses, $1,777,309; net
Income, $540,696; miscellaneous income, $56,337; total income, $597,033:
administration and selling expenses, $236,586; loss on drilling non-producing
welLs, $176,384, and net ij refit, after provision for Federal taxes, $184,063.
V. 110, p. 977, 772.
STOCK.—Capital stock, auth. and Issued 2,000,000 shares no par value,
listed on N. Y. Stock Exchange in Aug. 1919 (V. 109, p. 988).
Bankers
offering stock, Prichitt & Co., N. Y. and E. W. Clark & Co., Phila. (V. 109,
p. 79).
No funded debt.
Pres., A. B. Dally, Jr.; Sec., T. R. Cowell;Treas., Ed. Kuppor.—(V. 110,
p. 772, 977, 1755.)
TRANSUE & WILLIAMS STEEL FOROINa CORP.—ORGANIZA¬
TION.—-Incorp. in N. Y. Oct. 26 1916 as successor of company of similar
name (organ, in 1898).
Manufactures steel forgings,stamping forms,etc.
auth.
110,000 shares;
issue,
no
par
valuo,
100,000 shares listed on N. Y. Stock Exchange In Jan. 1917 (V. 104, p. 368).
Bankers offering stock, Hornblower & Weeks, Dominlck & Domlnick and
Kissel, Klunlcutt & Co. (V. 103, p. 1691).
No funded debt.
DIVIDENDS—1917. Jan. and April, $1.
In July 1917 Increased the
div. to $1 25.
Oct. 1917 to Apr. 1920, $1 25 quar., both incl.
quar.
REPORT for calendar year 1919 In V.
Cross
Net
Other
110,
p. 559:
Dividends
Balance,
Taxes.
Paid.
Surplus.
1919
$250,000 ($5)$500,000$235,988
1918
275,000
(5) 500.000
14,601
1917
360.000 (414)475.000 405.086
Pres.. O. F. Transue; V.-P., FrankTransue; Sec.-Treas., F. E. Dussel.—
N. Y. office, 14 Wall St.—(V. 110, p. 473, 559.)
Federal
-
TRIANGLE FILM CORPORATION.—V. 109, p. 267.
TRUMBULL STEEL CO.—(V. 110,
p.
STOCK.—Pref. stock, see V. 90, p. 788.
lu 1917 retired $100,000 pref.,
V 103,
($900,000) w-sre all 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.
making $1,100,000 of the $5,000,000 pref. acquired and canceled.
.
Notes payable
DIVIDENDS.—On pref., July 1 1910 to July 1 1920, \ %% quar.
On
stock, July 1 1911 to April 1917, 1% quar.; April, 2%: July and Oct.
1917, 1J4%; 1918, Jan., 114% and 5% extra from accumulated surplus;
April, July and Oct., 1J4% quar.
1919, Jan., 114% and 5% extra; April,
2%; July, 2%, and 5% extra in U. S, Victory bonds; Oct., 2% cash; in
1920, Jan., 2% and 5% extra in casn; April, 2%; July, 2% cash and 5%
in Victory notes.
com.
REPORT.—Report for cal.
year
1919 in V. 110, p. 666:
Pref .Div.
Common
Total Net
Year:
Federal
Depre-
Income.
Taxes.
ciation.
(7%).
Dividends.
1919-.$4,502,335$1,250,000$230,645 $273,000(18)$!,620,000
1918
1917
—
1,250,000
500,000
4,230,754
3.271,971
2,624,190
200,071
244,405
273,000 (11) 973,500
274,750 (11) 944,500
302,750
(4) 382,500
1916
244,452
*
After deducting profit-sharing to employeejs.
--
Balance,
Surplus.
$*706,952
*1,157,346
*980,653
*1,401,090
OFFICERS.—Pres., John T. Underwood; V.-P., Clinton L. Rossiter;
Treas., De Witt Bergen; Asst. Treas., Jno. J. Hinchman: Sec.,L. W. Guern¬
sey.
Office, 30 Vesey St., N. Y.—(V. 109, p. 686, 1899; V. 110, p. 666,
566,2083.)
UNION
BAG
&
PAPER CORPORATION—ORGANIZATION.—In
corporated In New Jersey Oct. 4 1916 as a merger, per plan in V. 103, p.
244, 762, of Union Bag & Paper Co. and Its sales agent, the Rlegel Bag &
Paper Co.
In this merger the $27,000,000 stock of old Union Bag & Paper
Co. ($11,000,000 being pref.), 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. & i.
V. 103, p. 2436, 2161; also then purchased
for cash Badger Bag & Paper Co. of Wausau, Wis.
V. 104, p. 262.
Owns $3,750,000 of the $5,000,000 outstanding capital stock of the St.
Maurice Paper Co., Ltd., a company which In Doc. 1915 took over the prop¬
erties including water powers of the Canadian subsidiaries of the Union Bag
& Paper Co., and undertook the erection of a newspaper
mill, &c., at Cap
Madeleine, P. Q. The St. Maurice Paper Co. sold^n 1916 $1,500,000 1st M.
conv. sinking fund 6s, part of a $5,000,000
issue due Jan. 1 1946.
V.
103, p. 148; V. 109, p. 1085.
STOCK.—The stockholders voted May 4 1920 to increase the capital
stock from $10,000,000 to $2u,000,000.
Of tne new stock $5,000,000 Avas
distributed as a 50% stock dividend on May 20 to holders of record May
10.
Of the outstanding stock, $66,400 was held Dec. 31 1919 for exchange
under merger
|
plan.
DIVIDENDS
(New Co.).—Dec.
15
1916 to Sept. 15 1919, 6%
a.
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, $2,553,000 on Dec. 31 1919 were out¬
standing, $1,609,000 were in sinking fund and $944,000 in treasury.
REPORT.—For 1919, in V. 110, p. 1297, showed:
Year ending—
Dec. 13 '19.xDec. 31 '18. Jan. 31 *18.
Net earnings
$2,335,255
$2,619,173
$*, 131,106
Depreciation
348,221
460,710
261,006
Other income
Cr. 140,625
Cr.46,375
Interest
188,812
187,151
211,619
Federal taxes.
258,228
(601,467
555,765
(8^)836,062
Q—M30 See text.
A
S Sept 1 1932
May 1 1921
Q—F
F
&
A Aug 1 1927
7
5 g
St Louis, Mo
N Y Office, 30 Broad St
Nat Bk Com, St Louis
1 1933
N Y Office, 30 Broad St
Vt
6 g
tg
5 g
N May
M
New York and St Louis
New York
1920
New York
1923
Julyl519l9 2% Corn Exch
J & D 15 July 15
A
&
O April 1
M
5 g
303,300
&
Bank,
N
Cen Un Trust Co, N
Y
Y
N Nov 1 1965
Bankers Trust, N Y
F & A 15 Feb 15 1925
7
2,150.000
15 Apr 15 '20 2M
9,840,000 10 In '19 Q—J
Colonial Trust Co, Plttab
A
&
O To Apr 1926
6 g
1,663,000
UNION
CARBIDE
& CARBON CORPORATION.—ORGANIZA¬
TION.—Incorporated in New York Nov. 1 1917 (V. 105. p. 1426, 1718;
V. 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. &c.: 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, &c.; also to manufacture and
dpal 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 ail of the com¬
mon capital stock of Union Carbide Co.
(V. 105, p. 916, 722), National
Carbon Co., Inc., the Linde Air Products Co. (V. 104, p. 668), the Prest-OLite 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., Oxweld Railroad Service Corp.
and other subsidiary companias.
(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., $750,000.1
CAPITAL
issued
and
STOCK.—'Authorized.
outstanding Oct,
1919
3,000.000
2,533,633
,
shares
(no
par
value)
shares.
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 of 20% of their
holdings, the stock to be offered In two portions, 50% to
and paid for Jan. 15 1919 and the balance on or before
V. 107, p. 2195, 2482.
be subscribed
April 15 1919.
Dividend No. 2. $1 per share, paid
1918 to Apr. 1920, paid $1.25 quar.
Y. City.
April 2 1918;
July
1918,
Oct.
$1.
•
DIRECTORS.—C. IC. G. Billings, Charles A. Coffin, George C. Knapp,
Jesse J. Ricks, Nicholas F. Brady, G. W. Davison, Milton Ferguson, F. O.
Walcott, New York: James Parmelee, Myron T. Herrick, Andrew Squire,
Cleveland; Roger C. Sullivan, Chicago: James A. Allison, Indianapolis.
Executive Committee:
C. K. G. Billings, Charles A. Coffin, George O.
Knapp,
Nicholas F.
Brady,
New
Herrick and James
York; Myron T.
Parmelee, Cleveland.
OFFICERS.—Chairman of Board. Myron T. Herrick: Pres., George O.
Knapp: Vice-Presidents. Edgar F. Price, Giles W. Mead. M, J Carnev
H. E. Ilackenberg; Treas., Giles W. Mead.
Office, Carbide and
Y.—(V. 108, p. 1171; V. 106, p. 686, 1408.)
Sec.,
Carbon Bldg., N.
UNION ELECTRIC LIGHT & POWER CO., ST. LOUIS.—ORGAN¬
IZATION.—Incorp. In Missouri In Sapo. 1903 (V. 77, p. 40. 774). and In
Utilities Co. and thereafter purchased
Jan. 1917 merged with Perry County
property of the Electric Co. of Missouri (V. 104, p. 458).
Does practically
all of the electric lighting business of St. Louis.
Has a 10-year contract
1 1920.
V. 96, p. 793.
May 1918 76,000 k. w. scheduled to be
Also receives hydro-electric power from
Mississippi River Power Co.
Rates 1918, V. 107, p. 186, 2296, 2383.
In Oct. 1919 was reported to be planning the construction of a power
plant with a daily generating capacity of from 60,000 to 100,000 kw. h. at
a cost of about $7,000,000.
V. 109, p. 1468.
to
supply public city electric lighting till Sept.
Steam power generating plant in
Increased In 1918 to 96.000 k. w.
STOCK.—Total authorized stock, as Increased in May 1918, $22,240,000
(par $100 a share), viz.: (a) Common, $14,200,000, of which $11,015,200
all except directors' shares owned by North American Co.
(Including $500,000 purchased at par for cash in May 1918; (5) 7% non cum
preferred $8,040,000, of which $2,317,700 was outstanding Dec. 31 1919.
V. 105, p. 1110; V. 104, p. 1904, 2016.
outstanding,
COMMON
DIVIDENDS.—1906 and
6% yearly (Q.-J.).
Since not reported.
1907, 5%; 1908 to June 30 1915.
Also some small extra payments.
BONDS, &c.—In 1908 filed a Ref. and Extension M. for $50,000,000
the bonds,
§9,6)0,000 have been sold, $10,000,000 are reserved to
retire underlying bonds and the remaining $30,400,000 are issuable for not
over 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.
In 1918
sold
on
account
of extensions and additions $1,500,000 of
an auth. $2,000,000 Two-Year 6% bond secured gold notes dated Mar. 15
1918, secured by 150% of Ref. & Extension Mtge. 5s, due 1933, and $500.000 2-year 6% secured gold notes dated June 15 1918, secured by 1st Mtge.
bonds and capital stock of Union Colliery Co.
V. 106. p. 1466; V. 107, p.86.
The 3-year 7% Conv. Debentures are callable, all or part, at 101 and int.
to Apr. 1 1921. at 10014 and int., thereafter to April 1 1922, and at 100H
and int. thereafter.
Convertible until Feb. 1 1923 into an equal amount
of Ref. & Ext. Mtge. 5% bonds due 1933, plus $150 in cash for each $100
dGl)0ntiir6 conv6rt/6(l
p.
(1 lA% Q.-M.); Dec. 1919 to June 15 1920, 2% quar.
Also extra div.
Feb. 1917, 2% cash, and on Nov. 15 1917, Jan. 25 1918 and Feb. 15 1919,
eafeh 2% in Liberty Loan bonds.
Paid 50% stock div. on May 20 1920.
Dividends.
To 1934
N Nov 1 '20 to '26 N Y.Empire Trust Co.
'
Apr 1'20 $1.25 By check
DIVIDENDS.—An initial dividend of $1 per share was paid Jan. 2 1918.
UNDERWOOD TYPEWRITER CO.—ORGANIZATION.*—Incorp. In
V. 90, p. 632.
Manufactures "visible" typewriter,
V. 86, n..
Factory, Hartford, Conn.
During 1919 brought out new product
known as "Underwood Standard Portable Typewriter."
V. 110, p. 966.
Cal.
do
233 Broadway
1930
ANNUAL MEETING.—Third Tuesday In March at N.
1359.
1797.
July 1
OFFICERS.—Chairman, August Heckscher; Pres., M. B. Wallace
V.-Ps., O. R. McMiUen and E. B. Murray; Tfeas., M. B. Wallace: Sec.,
Sanders.
Office, Woolworth Bldg., N. Y.—(V. 110, p. 1297,
1412, 1650, 1755, 1979, 2083.)
568,165J, 1979, 2200.)
Delaware.
p.
Checks mailed
text.
ee
Charles B,
Sales.
Earnings.
Income.
$6,934,777 $916,796 $69,191
6,298,301
728,865
60,737
6.749.771 1.181.355
58,731
&
Q-J
,
Payable
$1.25
7 g
3,000.000 4 in 1918 See text
MAN Nov 1 1920
5 g
403,800
10U
Union zFerry—Stock
J
are
serni-an
Union El L & P, St Louis—
Pref stock 7% non-cum call 105 $8,040,000
1st M g
.
-—...— MSt.xxc*
Missouri Electric Light & Power 2nd Mtge gold-—SStxx
Missouri Edison Electric Co 1st Consol Mtge
Kxxc*
&
5 g
6
2,447.000
150,000
500 &c
700,500
None
2,533,261sh
1,000
1905
A'
pr 15'20
See text-
July 1 '20 1 % %
Q—J
Where Interest and
Dividends
O-T
See text
3.900.000 7 In 1919
100
Places
Q—J
None 100,000 shs '19 $5 00
Forging Corp—Stk 110,000 shs
Underwood Typewriter Co—Common stock $9,000,000 autn
Preferred 7% oum (a & d) red 125 $5.000,000
Union Bag & Paper Corporation—Stock
STOCK.—Capital stock,
[VOL.110.
Bonds
MISCELLANEOUS COMPANIES
| [For abbreviations, &c., see notes on
BONDS
The $1,300,000 bond-secured 6% gold notes due Mar. 15 1920 were
on that date.
paid
off
EARNINGS.—Year
(incl. FJec. Co. of Mo. &
Perry Co. P. U. Co.), gross, $8,153,407; net, after taxes, &c., $2,264,314;
interest charges, $1,128,980: bal. for divs., $1,135,334.
i
ending Dec.
31
1919
OFFICERS.—Pres., Louis H. Egan;i V.-P., C. S. Ruffner:
Treas., Hermann Spoehrer; Asst. Sec. & Asst. Treas,, J. F.
N. Y. office, 30 Broad St.—(V. 108, p.
387; V. 109,
p.
Sec. and
Fogarty.
1468.)
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.
In
90,
Apr. 1919 outstanding bond issue had been reduced to $403,800.
114; V. 97. p. 1827.
V.
p.
DIVS.
1898.
1899.
1900 to Jan. 1908.
1909 to 1915.
1916 to Jan.
1919.
Percent..
3>$
3
2 yearly.
3 yearly.
/ 4 yearly (2 J.-J.)
Pres., Thos. Read; Asst. Sec. & Treas., John O'Brien.—(V. 106, p. 819.).
$827,645
$1,114,278
$3,174,715
$2,347,070
NATURAL OAS CORPORATION—ORGANIZATION. &o.—
Delaware May 24 1902 and acquired various gas properties In
On Deo. 31 1919 owned 663,1-21 acres of gas lands and
also one-half Interest In 56,374 acres In W. Va. (Reserve Gas Co.).
Eleven months.
DIVIDENDS.—Dividends 1903 to 1906. 8% yearly; 1907 to 1918. 10%
yearly; April 1919 to Apr. 1920 paid 2}4% quar.
(6)589,074 (10)988,438
UNION
Incorp. In
Balance,
surplus
Profit and loss surplus
*
$844,557
*$3,94S,987
After adjustment of $70,286 Foderal taxes for 1918.
x
Penna. and Ohio.
May, 1920.]
INDUSTRIAL STOCKS AND BONDS
231
MISCELLANEO US COMPANIES
Date
Par
Amount
Bate
When
Last
Dividend
IFor abbreviations, &c.. see notes on first page]
Bonds
Value
Outstanding
%
Payable
and
Maturity
Union Oil Co of California—Stock auth (see text)
First Lien M S20.000.000 g callable see text__Eq.xxc*&r*
$100 $46,726,800 See
text
Q—J
Apr 24'20
J
&
,T •Ian 2 1931
8,494,000
159.000
M &
N Nov 1 1921
1,159.000
F
&
5
A Feb 1 1923
1911
Mission Transp & Ref Co 1st M s fd quar p & i
xx
Union
xx
5*
1909
Purchase money obligations
Union Oil Co (of Dela)—Stock 5,000,000 shares
Union Steel—First <3c coll mtge 545,000,000 g gu s I_N.xc*&r
Sharon Coke Co 1st M callable 1901
x
Union Stock Yards of Omaha—Stock $7.500.000
First mortgage $5,000,000 redeemable 105.
CC
Union Tank Car Co—Com. Stock 525,000,000
10O &c
1909
1917
Transportation Co 1st M
Producers' Transportation Co Guaranteed bonds
Var
331.000
Iyo2
1911
See text
100
None
525.000 shs.
—
D
ec.
31
BONDS, &c.—Bonds of subsidiary cos.
Dec 31 1919, $956,000; $345,000 in treasury; outstanding, 611,000.
Of $6,000,000 6s of 1913, $1,663,000 were outstanding in Apr 1920, $3,000,000 nad been redeemed and
(including $500,000 paid April 1 1920) and $1,341,000 remained
extensions, &c., as required.
No bonds are reserved to retire
V. 96, p. 794; V. 97, p. 370; V. 100,
available for
bonds of five "under companies,"
897.
p.
REPORT—For 1919, in V. 110, p. 2189, showed:
Calendar Years—
1919.
1918.
Gross
earnings.
1917.
1916.
$7,832,872
$7,560,976
$8,076,613
$6,642,541
2,872,679
268,697
45,003
984,000
908,986
3,574,677
266,812
Cr.29,512
984,000
858,188
3.443,517
317,798
(6%).-.-.-.
Depreciation
3,370,239
242,662
38,126
984,000
1,260,858
Balance, surplus
per bal. sheet..
$844,594
$9,247,361
$665,993
8,442,557
$1,495,189
$7,718,289
$1,270,754
$6,063,603
;
Net, after exp., taxes &
credit for other income
Interest.
Miscellaneous
Dividends
Surplus,
Pres.
&
Gen.
UNION
OIL
39,057
1,000,000
815,908
Mgr., E. P. Whitcomo; V.-Pres., S. Y. Ramage; Sec.,
David E. Mitchell; and Treas., H. Stehley.
Office, Union Bank Bldg.*
Pittsburgh, Pa.—(V. 109, p. 575; V. 110, p. 1096, 2190.)
CO.
OF
CALIFORNIA.—ORGANIZATION.—Incorp.
refined oil, gasoline, kero¬
In California in Oct. 1890 and produces fuel oil,
sene, benzine, &c.
Owns or controls more than 740 miles of modern pipe
line (lncl. Producers' Transportation Co., V. 96, p. 1294; report, V. 103,
f». 6595), extending State,3 and controls and operates 3 modern refineries, a
separate tidewater ports to the 4 great oil-producng sections of the frora
large fleet of oil-carrying vessels, with a capacity of over 813.100 bbls., 239
stationary tanks, with a storage capacity of 19,000,000 bbls. for crude and
&c.
Its oil properties aggregate about 212,387 acres in Cali¬
fornia, also rights on 35,349 acres of leasehold in Texas and 15,836 acres
leasehold in Mexico; total Dec. 31 1919, 285,597 acres.
V. 108, p. 781.
V. 106, p. 705; V. 97, p. 149; V. 99, p. 758, 745.
In Feb. 1918 company
owned
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,
p. 826. 2280; V. 107, p. 298), and $3,283,000 in First Lien 5s of 1913.
refined oil.
STOCK.—No dividends while the First Lien bonds are unpaid, unless
income 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
on
$1,611,500 of the $6,428,500 additional stock then being subscribed
was purchased at $157.50 ox-dividend on behalf of Union Oil Co. of Dela.,
which see below. V. 109, p. 279In 1919 the holders of the $43,571,500 stock of record Aug. 20 (V. 109,
p. 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 in
four installments of $25 a share, on Sept. 20 1919 and Jan. 1, May 1 and
Sept, 1 1920.
The stockholders were to vote June 15 1920 on increasing
net
the authorized stock from $50,000,000 to $100,000,000.
LATE DIVS ( '09. *10. '11-'12. *13. '14-'15.
Cash
___-|6 62 7.2 yly.
48 None..
Extra
|
...
i
In stock
On
Jan.
\
19
*16.
6
*17.
6
3
.
__
__
1918,
1M%
April, 1918 to Apr. 1920,
and
1%
extra;
Mar.
15
cash and 1% extra,
1919.
6
4
4
Mar., 10
1920.
See
text
1918. 10% in stock
V. 108, p. 177.
BONDS,—First Lien 5% 20-yr. bonds, auth. $20,000,000; viz.: reserved
$1,960,000; in company's treasury,
$1,004,000; redeemed, $4,800,000; unissued. $3,742,000; in hands of public,
$8,494,000.
Y. 92, p. 1373; V. 93, p. 109, 168; V. 92, p. 1373, 1503, 1641.
Sinking fund retires yearly at 102H & int. (in May 1920 about $792,000)
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.
Consolidated
Aiinual
Statement,
1919
110,
p.
1916.
1917.
Production, net barrels.
8,705,447
8.271,084
7,430.154
6,681,015
Gross sales.'.
$53,360,926 $43,863,562 $33,870,889 $27,745,009
Total profits
20,532,488
14,364,695
14,171,051
11,206,263
General exp., taxes, &c_
1,351,127
1,490,733
963,323
1,862,391
4,862,626
3,201,242
2,432,465
Depreciation
5,740,465
Interest on bonds, &c
541,378
577,803
595,799
585,911
Provision for Fed! tax.
1,750,000
1,550,000
1,240,993
.
Cash
dividend..___(10%)4,395,053(10)4252,519 (9)3,297,866 (6)2,045,532
Stk.div.pd.Mar.10'18^.
Balance, sur.
or
•
(10)3951,193
Sales
Profit before
depreciation.
Provision for
depreciation..'
Profit, subject to Federal takes.
Sec
J
D
&
J
&
Dec"l" 1952""
D Dec
Q—M
M
ft
M
Apr
&
Now
N
1
Vi—J
York Trust Co. N
Union
Trust
20 \ \4% Omaha,
May 1 1931
8 June 1 '20 1
Q—M
New
2 1931
Co,
v
Plttsb
Neb
First Tr & 8av Bk. Oht«
%%
Checks mailed
June 1 1920
Apr 20
1920 $1 Guaranty Trust Oo. NV
19 19
shares
of the Commonwealth stock being
exchanged for 11-5 shares of
Union stock, increasing the outstanding amount of the latter
to 1,369,000
V. 109, p. 1899, 1990.
For description, see separate statement of
Commonwealth Petroleum Corp. above.
In March 1920 purchased 13,939
acres in West Virginia from the
Wayland Oil & Gas Co., V. 110, p. 1297.
The Eddystone Oil Corporation was organized in Delaware
Jan. 20 1920
with $500,000
capital stock, all owned by this company.
It is the operating
shares.
subsidiary of this company.
Properties recently purchased in Oklahoma
and in West Virginia were taken and
operated by Eddystone.
A shipping company known
temporarily as the Union Oil Steamship Co.,
was incorp. in Delaware Jan. 8 1920 with
500,000 shares, no par value, all
owned by the Union Oil Co.
Four steel tankers, totaling 46,000 deadweight
tons,
are under construction—two to be delivered in Nov. and
Dec.
and two in March 1921;
The assets of Union Oil Co. (of
Delaware) in
1920
May 1920 included approxi¬
mately 25% of the $50,000,000 outstanding stock of Union Oil Co. of Calif.;
9914% of capital stock of Columbia Oil Producing Co.; 99J^% of
capital
stock of Commonwealth Petroleum Corp.;
26% of capital stock of National
Exploration Co.; entire outstanding stock of Eddystone Oil
Corporation,
Union Oil SS. Co., and approximately
$9,000,000 cash for working
and
capital, &c.
CAPITAL STOCK.—Authorized, 5,000,000 shares of
which 1,375,000 shares have been issued.
V. 109, p.
no
par
value, of
1086, 1186.
MANAGEMENT.—C.
W. E.
S.
H. Schlacks, Pres.; Henry Lockhart Jr. and
Grlswold, V.-P's; C. E. Forsdick, Sec.; H. F. Osborn Jr., Treas.
DIRECTORS.—F. W. Allen, Bayard Dominick, W. E. S.
Grlswold,
Chas. Hayden, Henry Lockhart Jr., Gates W.
McGarrah, Jas. H. Perkins,
S. 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. Wilitcomb,
Pittsburgh; T. W. Phillips Jr., Butler, Pa.; S. M. Vauclain, Phila.; Francis
II. Swift, Boston.
N. Y. office, 120 Broadway, N. Y. City.—(V. 110.
p. 368, 1297, 17755.)
UNION STEEL CO.—The United States Steel Corporation, which took
possession as of Dec. 1 1902, owns the entire $20,000,000 stock, guaranteeing
$45,000,000 of 5% bonds.
See V. 75, p. 1359, 1150; V. 74, p. 100.
BONDS.—The
1st and Coll. 5s of 1902 ($45,000,000 authorized
issue)
guaranteed principal and Interest by the U. S. Steel Corp., and aie
by all the property of the company, Including the Sharon Steel stock
acquired.
They are subject to call since Deo. 1 1907 at 110 and interest.
Of the bonds, $43,935,000 have been issued, of
whlchr$21,715,000 were held
alive In sinking fund on Dec. 311919; remainder are to De used to retire un¬
derlying bonds and for future purposes.
Annual sinking fund 2% of amount
are
secured
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.)
UNION
STOCK
YARDS OF OMAHA.—ORGANIZATION.—Incorpor¬
ated in Nebraska In Dec. 1883.
Owns about 220 acres of land at South
plant, fto„ and other real estate.
V. 92, p. 137c,
Dividends since 1897, 6% yearly, with extras of 2% in Dec. 1916. Nov. 30
1917, Dec. 1918, Dec. 1919.
Of the 1st 5s of 1911 ($5,000,000 auth. issue),
$700,000 have been sold, remainder reserved for improvements and addit'ns,
Omaha, covered with
$1,200,000 at cost and $3,100,000 at 75% of cost.
V. 92,
p.
1387, 1315.
Gross
Dividends
]
Net
Balance,
Paid.
Earnings.
Earnings.
Surplus
1919
$4,108,295
$806,823
$599,704
$207,119
1918
3,750,804
763,090
599,704
163,386
Pres.. R. J. Dunham; Sec.-Treas., J. C. Sharp.
Office. South Omaha.
Neb.—(V. 106, p. 393, 1125; V. 108, p. 376; V. 110, p. 2187.)
Year—•
UNION SWITCH & SIONAL CO.—See Westinghouse Air Brake Co.
UNION 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 21,000 tank ears which it leases
to
a
shippers at rental charges according to capacity, and in addition receives
mileage rate from the railroads.
Formerly controlled by Standard Oil
of N. J., but segregated in 1911.
Auth. stock was Increased in Juno
Co.
1919 from $12,000,000 to $25,000,000.
V. 108, p. 2336.
Dividends, 1914
1919, 5% yearly {2)4% M. & S.); Juno to Dec. 1919 paid
114% quar.; March and June 1920, paid 1 %% quar.
Suit, V. 107, p. 1009.
-
The stockholders
1920.
1919.
1918
$14,050,000 $12,270,000 Not stated.
$4,500,000
$3,550,000
$3,100,000
1,600,000
1,200,000
950,000
$2,900,000
$2,350,000
$2,150,000
DIRECTORS.—Lyman
Stewart
(Chairman), Los Angeles; W.
L.
Stewart (President), E. W. Clark (V.-P. & Gen. Mgr.),
C. H. Schlacks,
R. D. Matthews (Como.), W. \V. Orcutt, W. R. Staats. F. C. Bolt. Isaac
Milbank, A. P. Johnson, Gurney E. Newlin, Henry M. Robinson, L. P
St. Clair, A. B. McBeth, C. L. Nichol.
Other officers: Sec., John McPeak,
Treas., R. J. Keown.
General office, Oleum (P. O. Rodeo), Contra Costa
County, Calif.: branch offices, Los Angeles and San Francisco.—(V. 110,
p. 763, 1195, 1533,2083.)
on
Jan. 27 1920 authorized the creation of
an
issue of
$12,000,000 cumulative 7 % non-voting pref. stock.
Stockholders of record
Jan. 27 were given the privilege of subscribing to tho new stock at
par on
the basis of one share of pref. for each share of common held.
Initial div.
of 1 % % on new pref. stock paid June 1 1920.
In Aug. 1917 sold to the Equitable Trust
Co., N.lY., $7,500,000 5%
Equipment Trust gold notes, maturing $1,500,000 semi-annually from Aug.
1918 fco Aug. 1920 incl., secured by tank cars contracted for in 1916-17.
making an equip't of about 21,000 all-steel cars.
V. 105, p. 503, 613;
$4 5 00,000 were paid off in cash Aug. 15 1918to Aug. 1910incl.
V.109.p.686.
The remaining
$,^,000,000 were paid off Feb. 15 1920. V. 110, p. 174.
REPORT for calendar year 1919, in V. 110, p. 968, showed:
1919.
1918.
1917.
def..sur.S6,243,201df$2,180,573sr$4,344,418sr$5,179,032
Earnings for 3 Mos. end. Afar .31—
,
N Y Corn Ex Bk & Los A
do
do
Los Angeles Tr & Sav Bk
to March 25
763:
Including Controlled Companies.
1918.
Payable
Calendar
1918.
6
for underlying and guaranteed bonds,
REPORT.—Calendar year 1919, in V.
are
2H Los Angeles
N Y,
Los Angel68.
J July 1 1921
Dec 1 '19 to '22
Inc.
An additional $21,715,000 held by trustees of sinking fu nd,
canceled
&
Where Interest and
Dividends
New
1.000occ a22,220,000
71,000
5 g
100
7,496,300 8 in 1918
1.000
7O0.000
5
100
12,000.000 See text
—
a
J
New
„
..
Preferred stock (non-voting) $12,000,000 authorized
United Alloy Steel—Stock 525,000 shares
United Cigar Manufacturers Co—See General Cigar Co,
5
392,016
None 1,369,000 sh
Places
Net
earnings for year..*$3,618,288
840,000
Dividends paid (5%).__
x$l,253,019
600,000
x Net earnings
for 1918 are shown
income and excess profits tax for 1917.
♦After
$3,709,516
600,000
1916.
$2,081,766
600,000
after deducting $9. 8,415
Federal
deprec., amort.,
&c., $1,017,053 Federal taxes for 1918 and
$200,000 reserve for annuities.
Chairman, Henry E. Felton; Pres., Wm. A. Barstow; V.-Pres., E.
C.
Sicard and P. F. Finnegan; Sec., E. F. Cook; Treas., E. L. Gridley.
Office,
21 East 40th St., New York.—(V. 110, p. 877, 968.)
UNITED
ALLOY
STEEL CORP.—ORGANIZATION.—Incorp. In
Owns in fee property of former United Steel Co.
(organized in 1903).
Produces nig iron from native ores and
coke, and converts same Into steel in Its own furnaces.
Two plants, total
combined capacity 50,000 to 60,000 tons per month.
Also owns a b*lf
Interest in United Furnace Co., capacity of from 14,000 to 16,000 tons per
month. V. 103, p. 150, 1512; V. 105. p. 2372,
N. Y. State Oct. 25 1916.
of Canton, O.
UNION OIL CO. (OF DELA).—ORGANIZATION.—Incorp. in Dela¬
Aug. 15 1919 for the purpose of acquiring a large interest in the Union
(of Calif.) and in similar
ware
Oil Co. of Calif., the Columbia Oil Producing Co.
properties. V. 109, p. 1086, 1468, 1899.
The Union Oil Co. of
separately described above.
The Columbia Co. (99!4% of
has leases on 290 acres, owns in fee
^alif. is
owned)
rights 3,300 acres in southern California, with approximately 105 wells,
and controls through 100% stock ownership the Puente Oil Co. with a re¬
finery located at Cnino.
Merger with tne Commonwealth Petroleum Corp
Dec. 1919, each of the no par value.
and its subsidiaries was effected in
STOCK.—A
1,410 acres, controls through mineral
syndicate headed by Hornblower & Weeks, Dominick
ft
Dominick and Kissell, Kinnicutt ft Co. purchased 200.000 shares of the
stock, which they sold at 447 per share V. 103. p. 1512. No bonds, new
or old.
Initial dividend of $1 per share was paid Jan. 10 1917, April 1917
to
Apr. 1920. $1 quar.
V. 103,
p.
2244; V. 105, p.
/
2190r
Date
first page]
Par
Amount
Rate
When
Last Dividend
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, Ac., see notes on
Value
Outstanding
%
Payable
$5,000,000
—
United Elec Co of N J—See "Electric Ry" Section.
United Fruit—Stock *75.000.000 authorized.,....
..
United Fuel Gas—1st M $15,000,000 call 105--KNc*&r*
(unsecured)
REPORT.—For calendar year 1919,
1,000
Manufacturing
Other income
——
Total______
Miscellaneous deductions
Depreciation.
Reserved for
$3,111,174
271,562
$4,511,428
224,873
$3,382,736
$135,103
profits
$4,736,301
$365,148
935,896
738,795
—--
Federal taxes (est.)....
Balance,
surplus
'.—
— _
,
$535,257
$83,838
DIRECTORS.—Edward A. Langenbach (Chairman),
UNITED CIGAR MFRS.—See
$6,610,209
$215,422
516,296
1,500,000
$2,328,490
Harry R. Jones
(Pres.), E. L. Hang (V.-P. & Treas.). George II. Charls, C.
Buell, H Coulby, Bayard Dominick and James A. Faync.
is J. P. Moseley.—(V. 108, p. 1821; V. 110, p. 1639.)
W. Krieg, J. A.
The Secretary
585,1994.
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
exceeding $140 per share.
The stockholders on Aug. 14 1914 voted to re¬
duce the par value of shares 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.
Bills and accounts payable,
Dec. 31 1919, $8,921,549.
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 the acquisition of new lines, and will
be available for distribution as stock dividends.
Compare Y. 108, p. 1516,
1171. 886.
1917).—Div. on common, 1
%
H% extra paid Feb. 15 1913; May 15 1913 to Nov. 15 1913, \ H%\
Feb. 15 1914 to May 15 1915,6% yearly; Aug. 1915 to Feb. 15 1917. 1^%;
May 1917, 2% quar. to May 1918.
V. 104, p. 1392.
On Aug. 15 1918 in¬
creased the common dividend to 2M%\ Nov. 1918 to May 1919. 2\f%
and
then none till Jan. 2 1920, 6%.
V.
10% in common stock.
V. 110, p. 473.
In Apr. 1920 paid
107, p. 410.
V. 110, p. 977, showing:
17.
1916.
1918.
191'
$3,059,933
$5,010,204
$3,423,501
REPORT.—For cal. year 1919 (inch sub. cos.)
1919.
Calendar Years—
$5,921,368
Net profits—
Floor taxes.
Federal taxes, est.......
dividends.___
Common dividends
Preferred
584,889
900,000
316,890
2,852,010
1916.
1915.
2,308,770
1917.
...$31,038,846 $35,622,986 $42,913,405
1918.
316,890
1,901.340
$841,703
$3,231,661
1919.
$52,037,749 $61,874,053
Chairman, Charles A. Whelan; Vice-Chairman, Jesse R. Taylor; Pres.,
Wise; V.-Pres., Elliott Averett, Wm. Baeder, R. L. Ramsdell,
Sherlock, J. F. Whelan, H. S. Collins, W. T. Posey, J. R. Taylor;
Dr. M. Monac-Lesser; Sec., F. I. Becton; Treas., Geo. Wattley.—(V. 110,
Edward
C. R.
p.
UNITED
DRUG
CO.—ORGANIZATION.—Incorporated
In
Mass.
In addition to Its manufacturing property and business,
the entire capital stock of the Louis K. Liggett Co., the retail company
which succeeded to Riker-Hegeman Co., Rlker-Jaynes Co. and Louis K.
owns
Liggett Co. business.
Also owns all the common stock of Canadian and
British cos., &c. V. 108, p. 2637; V. 109. p. 894; V. 103, p. 417; V. 102,
p. 615, 1167, 1255.
In June 1919 operated through its subsidiaries 300
stores in the U. S. and Canada. V. 107, p. 2383.
In 1917 purchased Seam¬
less Rubber Co. in New Haven, Conn., the lessee of a hew $1,800,000 plant
owned by Seamless Rubber associates on account of which the latter sold
$1,200,000 6% pref. stock in Nov. 1919, having dividends and sinking funds
covered by rental under guaranty by United Drug Co. V. 109, p. 1706.
In 1919 Schuhles Pure Grape Juice Co., Inc., of N. Y. 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 con¬
trolling interest in the Absorbent Cotton Co. of America, St. Louis.
V. 109.
p. 2077.
During 1919 formed the United Drug Bldg. 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.
STOCK.—Stockholders on June 24 1919 voted to
increaselthelauthorized
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), making3$15,000,000 pref.
outstanding.
The proceeds to be used to pay $4,500,000 floating debt
of consol. cos., retire outstanding $900,000 pref. stock of subsidiaries,
to increase manufacturing facilities and as working capital. V. 108, p. 2439,
2534, 2637; V. 109, p. 279.
The 2d pref. stock is now exchangeable
stock, share for share, at any time at option of holder. V.
common
p.
in
894.
Both pref. issues are non-voting, unless the
default, in which case the pref. stock at
well
as
as
the
On
On
coipmon stock
pref. stock
Paid
on
into
109,
dividends thei-eon are
least will have full voting power
1916.
common
-
'18. '19. '20.
3%
5 7)4 text
in full to date
'17.
stock in Jan. 1919, 1H% and 1% extra; Apr.
Jan. 1920, incl., \%% quar.;
N Y & Pittsburgh
1936
2% Philadelphia Office
A Feb
1
Philadelphia
1921
1919 in V. 110, p. 877; for 3 mos.
1920, V. 110'
estimated
301,104
1,888,673
2,073,313
1,000,000
-
$1,372,616
$4,275,004 $2,506,609 $3,156,007
Includes profit on sale of Vivaudou Co.
DIRECTORS.—Louis K. Liggett (Pres.), James O. McCormlck (Treas.),
Charles E. Murnan, George M. Gales and J. N. Staples Jr. (V.-Presidents).
John B. Cobb, James 0. Brady, Fred. S. Rogers, E. D. Cahoon, W. C.
Bolton, Thomas P. Taylor, Byron M. Hyde, John H. Flagler, W. M.
Federman, George W. Bence, E. L. Scholtz, C. F. Bushholtz, Edwin
Thompson, Edmund Carpenter, Thos. Wm. Robinson and Stephen Hexter.
(V. 109, p. 79. 279, 484, 78, 894, 1615; V. 110, p. 877, 1421,
1755,
Netprofit
*
—
CORP.—ORGANIZATION.—Organized In
and may manufacture chemicals,,
Owns all the capital stock of American
Dyewood Co. (incorp. 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$4,500,000.
The amounts of stock outstanding were authorized to be
listed by N. Y. Stock Ex<hinge 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).
Company In Sept. 1917 had no funded debt.
DIVIDENDS.—On pref. stock paid or declared in full to Jan. 2 1921
7% p. a.
qu.). Dividendson common (No. 1), April 1917 to Apr. 1
1920, 1 H% qu. (6% p. a.).
In Aug. 1917 paid (1% extra to aid Red
Dela.
DVEWOOD
Sept. 26 1916 as a holding co.
coloring materials and dyestuffs.
contributions.
EARNINGS.—Official statement with balance sheet
Cross
OFFICERS.—Pres., Joseph O. Baldwin Jr;
William F. Fraser; Treas., De Witt C. Jones;
W.
Picker; Asst. Sec., George A.
N. Y.
Hull.
In V. 104. p. 2560.
V.-P., Perclval Thomas and
Sec. & Asst. Treas., Ernest
Offices, Wilmington, Del., and
City.—(V. 110, p. 568.)
YSee Consolidated Gas.
CO.—ORGANIZATION—Incorporated in N. J. on
tropical fruit business.
Properties, see V. 69,
p. 854. and successive annual reports as published In the "Chronicle."
Bluefields S8. Co. Anti-Trust case. V. 104, p. 2656. 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 3,500
bbls. a day.
V. 108, p. 487; V. 103, p. 1979; V. 99. p. 1755; V. 98. p. 1619.
UNITED EL. L. & POWER CO., N.
UNITED
FRUIT
March 30 1899 to carry on
Status in Aug. 1917, see V.
Dec. 31 1917 took over
105, p. 614, 916.
the property of the (controlled) Cuban sugar
the Nipe Bay Co. V. 105, p. 2006, 2269.
AND 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 $1,524.100 stock was issued in exchange for minority stock of Nipe Bay Co.,
increasing th- amount outstanding to $50,316,500.
The Ameri an International Corp. has a large interest In the company.
DIVS.— 1903. 1904-06. *07. 1908-11. 1912. 1913. 1914-18. 1919. 1920.
Regular
6 7% yrly. 7^% 8% yly. 8%
8%
8%
9M%
See
Extra..:..
•
10 yrly.
2%
—
14% text
In 1920: Jan. 15. 2H%; Apr. 15, 3%*.
I
DEBENTURES.—During 1919 the company retired, or provided for the
retirement of the following debt: 4}4% debentures, $4,925,000; Nipe Bay
Co. 5% bends, $3,350,000; Elders & Fyffes, Ltd., debentures (steamship
obligation?,), $136,687, being the entire funded debt of the company.
REPORTReport for 15 months ending Dec. 31 1919, V. 110, p. 655.
V
1918-19.
1917-18.
1916-17.
1915-16.
Total income
$38,386,308 $24,830,006 $17,592,391 $14,0.32,133
Less: Interest charges
206,685
839,509
867,567
1,399.836
Estimated taxes
18,016,105
9,896,450
3,686,869
689,146
Divide ids declared (8%)
6.98Q 562
,4.025.320
3.903.392
3,415,468
company,
STOCK
._
-.-i&id.o/a.yoo $l0,ut>8,727
559,134,564 $8,527,683
1919 showed: Tax reserve, $15,534,446; reserve
tropical losses, $11,326,727; profit and loss surplus, $49,109,722.
DIRECTORS.—Andrew W.
>reston (Pres.), V.-P's Minor C. Keith.
Victor M. Cutter, Eugene W. Gng, William Newsome and Crawford H.
Ellis; Bradley W. Palmer (Sec.), Robert F. Derrick, John S. Bartlett, W,
Cameron Forbes, Reginald Foster, F. R. Hart
George C. Lee, K. K. Mc¬
Laren and W. S. Spauldlng. Treas. is John W. Damon.
General office
131 State St., Boston.—(V. 109, p. 782, 1614; V. 110, p. 655, 666, 1096.
Surplus
Balance sheet of Dec. 31
1185.)
UNITED FUEL GAS CO.—This company whose property Is described
of Columbia Gas & Electric Co., (owner of 51% or more
capital stock) made a new $15,000,000 mortgage Jan. 1
1916 under which there have been sold $10,467,000 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 se¬
cured by a first mortgage upon the entire property.
Annual sinking fund,
beginning March 1 1922, is to retire outstanding bonds at or before maturity.
under caption
of the $10,000,000
1708.
See official statement to N. Y. Stock Exchange (V. 103,
1133); also see V. 102, p. 1726, 1816, 1998; V. 103, p. 2161, 2245; V. 104,
869.
See V. 106, p. 1140.
In 1917 paid a stock dividend of SI ,000,000 and on the stock as so In¬
creased to $10,000,000 paid cash dividends, aggregating 36%; 1918, 36%
In Apr. 1920 declared a stock dividend of 200%, increasing the capital
V. 104, p.
p.
p.
stock to $30,000,000.
REPORT.—For cal. year 1918, In V. 109. p.
Pres., F. W.
UNITED
Apr. 1920, 2%; July 1920, 2%.
1919 to
279.
Crawford, Columbus, O.-—(V. 109,
GAS
&
ELEC. CORP.—See
p.
279; V. 110, p. 1533.)
"Eldc. Ry. Section "
(THE) UNITED GAS IMPROVEMENT CO.—Organized 1882 In Penn¬
sylvania: reorganized In 1885.
Charter Is perpetual and business J« the
building, leasing and operating of gas works, &c. (see list in 1900, V. 70 n.
1000, 944).
See data as to the various properties in V. 109, p. 894; V. 107.
p.
399, 400; V. 79, p. 498, 2090; V. 80. p. 2342; V. 81, p. 977,1727; V.
1444; V. 83, p. 42, 499, 1360, 1541; V. 84, p. 107, 395, 936,
1160,
common.
DIVIDENDS %—
1
15 Apr 15'20
for
174, 473, 877, 977, 1082, 1195, 1755, 2083.)
In March 1916.
Dep. taxes, doubt'l accts
Federal taxes,
20. 3% Companv's office. Boston
15 Apr 15
J Jan
1H
text
1918.
1917.
*20(3 mos.)
1919.
$16,856,261 $58,338,834 $51,028,366 $40,716,289
$5,835,726
$3,915,659
$1,673,720 $6,026,201
48,101
31,422
*1,137,476
807,753
1,287,226
__
550,000
316,890
2,105,055
1,000,000
316,890
Balance, surplus
$1,267,579
$1,384,544
$451,556
Profit & loss, surplus...*$5,759,628
$5,067,761
$3,683,216
*
After deducting $575,712 additional Federal taxes for 1918.
SALES
Merchandise profit
Other income
UNITED
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. 1451,1386,1122; V.93, p. 1108.
1122; V. 88, p.
1132).
Retails cigars, cigarettes, tobacco, &c., hav¬
ing, in Oct. 1915, about 900 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. 146.5; 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 Stores shares Class A common (no
par) for each share of the United Cigar Stores (par $100).
In Mar. 1920
announced that 254,456 shares had been acquired.
V. 109, p. 80, 279,
UNITED CIGAR
quar.;
sales
Net
do
1858, 2200.)
General Cigar Co., Inc., p. 208.
DIVIDENDS (old co. prior to merger of
-For cal. year
Calendar Year—
See
&
F
2200:
p.
534,228,880
$6,505,266
104,943
800,000
2,100,000 (4)2,000,000
325,000
2,100,000
Dividends..
1917.
1918.
1919.
6g
7,500,000
REPORT,
in V. 110, p. 1639:
$25,752,081 $40,055,864
Sales
'
500 &c
50
1920
7
50,316,500 See text Q—J
J
&
6 g
10,467,000
8
Q—J
61,029,800
100
1916
Apr 1 '20.
Q—J
Q—J
6
mailed
do
July 1 1920 2% Boston, Amer Trust Co
Boston, American Tr Co
May 1 19201
do
do
June 1 1920 1H
Q—F
Q—M
(?)
6
(?)
13,918,300
4,500,000
100
100
Checks
June 15 '20 1 %
7
1,214,400
1,020,100
505,298
$61,072,80o—.
gold notes (refunding) l-year__vvc
15,000,000;
50
100
Where Interest and
Dividends are Payable
text
See
Q—J
$100 $29,878,200 See text
100
4,527,000 7 In 1919
100
28.792,100 7M 1919
Pref 7% cum
One-year
Places
and Maturity
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 & d) 7% cum $20,000,000 call any time at $90 J
2d pref (a & d) 6% non-cum $10,000,000 call at 105
Pref stocks of sub companies (as of Dec 31 1917)
Real estate & mtge bonds all sub cos (Oct 1 1919)
United Dry Goods Cos—See Associated Dry Goods Corp
United Dyewood Corp—Common stock $15,000,000
United Gas Improvement Co (The)—Stock
New preferred stock—see text.
[Vol. 110.
BONDS
INDUSTRIAL STOCKS AND
232
82, p.
1112.
1304, 1373; V. 85. p. 44; V. 89, p. 1000; V. 90, p. 1682; V. 91, p. 219.
V. 92,
p. 1699;
V. 95. p. 116, 819; V. 100, p. 404, 647; V. 103, p.
1597.
In 1918 organized the U. G. I. Contracting Co. of which it owns
the entire capital stock.
The new company wil take over all the construc¬
tion business &c. of U. G. Improvement Co.—V. 108. p. 1719.
_
Mat, 1920.]
INDUSTRIAL STOCKS AND BONDS
Date
United
see notes on
first page]
Par
Amount
Rate
When
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c.,
Value
Outstanding
%
Payable
$100
Paper Board—Common stock $12,000,000 autn
Pref stock 6% non-cum $2,500,000 redllO
Liens on Individual properties (not direct
(Vol. 104, p.769)
obligations)
United Ret Stores Corp—Com stk 1,000,000 "A" shs. no pr
$9,186,400
1,679,100 6hfi9l9
100
$35,000,000_.
34,667,839 See text
9,958,550 6 in 1919
12,000.000 See text
25
25
100
1898
yrly red 104 aft Dec 1919
OBzc*
$200,000 yearly June I 1921-25_OB.c
U S Food Products Corp—Stock one class $32,500,000---.
Stocks of constituent cos held by public Jan 1 1920
Distillers Secur Corp coll trust M g call 105 (text) — Ba.xxc*
American Spirits Mfg 1st M g gu sf red 101-..— -Ba.xo*
"QHJ"
May 27 '20
July 15 *20
1908
100
100
1 ono
1,000,000
4.000. OOO
1,500.000
1,000,000
1,000
100
1902
Dividends are Payable
2%
IK
3%
Apr 5 1920 2% i Checks from American
Q—J
Apr 5 1920 IK \
Q—J
Trust Co, Boston
Dec 1 1907 1% Office, Burlington. N J
Q—M
text
do
do
Q—M 15 See
J
&
J J-uly 1 1928
Chattanooga.
Tennessee
MAS Marl'20
6% Old Colony Trust Co.Bos
u
&
s Marl '20 3K%
do
do
.T
&
D Deo
J
?I
&
D June 11921-25
1 1920-34
1,000
STOCK.—Increased In 1906 from $36,725,000 to $45,900,250 and In 190V
till
stock $61,029,800.
June 15 for $5,552,100 (10%) new stock, making total
V. 104. p. 1697.
The stockholders voted May 3 1920 to increase the capital stock by 300,-
each, all of said increase being 7% Cumulative Preferred
On July 5 1917 an extra dividend of
DIVIDENDS.—Since 1888 8% per annum, payable quarterly.
In Jan,
1896 paid extra 15% in convertible scrip; also 10% extra Meh. 1 1910 In
scrip convertible into stock to June 30 1910.
Also on Apr. 1917 2% extra
from profit on sale of securities.
NOTES.—In
dated
on
a
Feb.
7%
On Feb.
1
Feb.
sold
1918
1918. the company having the option
of
V. 106,
The notes are not secured.
basis.
1-year
notes
1-year extension
613, 720, 827.
a
p.
1
1919 replaced by other notes of like amount and interest, dated
Feb. 1 1919, and to mature Feb. 1 1920, the company paying to the holder
of each note so refunded the sum of $12 in cash as consideration therefor.
V. 108, p. 282, 177, 1719.
In Jan. 1920 sold $7,500,000 1-yr. 6% notes
due Feb.
1
1921
to refund
an
issue of like amount due Feb. 1
V.
1920.
110, p. 269.
110, p. 1283, 1638, shows:
1919.
1918.
1917.
1916.
Regular inc/from leased
$5,777,537
$7,654,806
$8,817,981
2,089,500
508,638
622,577
$7,867,037
2,770,527
4,882,384
$8,163,444
2,247,939
4,582.755
$9,440,558
2,171,226
4,440,237
Balance, suimlus
def.$1,097,044
$214,125
$1,332,750
Total p. & f. surplus Dec. 31 1919, $34,755,017.
$2,829,095
works and investments
Profits
on
$6,481,687
sale of secur_.
Total income
$6,481,687
2,696,347
4.882.384
Exp.,tax.,int.& sink. fd.
Dividend paid (8%)— -
15 1916 15-1000 of a share
Preferred stock (outstanding $2,500,000 each of
cum. pref. stock (par $100), (V. 102,
to each $25 share held on June 19, see V. 102, p. 2260, 2347.
of Thomas
p.
G. Plant Co.
2259)
as
REPORT.—For year ending Feb. 28
1920, showed:
1919-20.
Excess
1918-19.
1917-18.
$8,018,100
$7,495,i21
$6,137,323
1,500,000
5,446,771
Combinet net earnings
War reserve..:
1,000,000
4,750,338
3,233,285
750,000
-
profits taxes
Cash divs. paid (com. and
pref.)
Balance, surplus, for year..
$1,071,629
$1,744,783
surplus March 1 1920 was $27,670,615.
$2,154,038
DIRECTORS.—Edwin P. Brown (Pres.), Geo. W. Brown (V.-P.),
Moses B. Kaven (V.-P.), Wm. Warren Barbour, Louis A. Coolidge (Treas ),
Edmund Le B. Gardner, J. H. Hanan, E. P. Hurd (V.-Pres. and Asst.
Treas.), G. E. Keith. Daniel G. Wing, W. F. Robinson (V.-Pres.), Chas.
G. Rice. A. R. Turner, Samuel Weil, J. H.Connor (V.-P.), Henry B. Endicott, Sidney W. Winslow Jr. (V.-P.), William Woodward, Robert F.
Herrick, Robert Barbour, W. R. Sampson (Gen.-Mgr.), Chas. G. Rice,
H. G. Donham, of Boston, Sec. & V.-P., Albany Bldg., Boston, Mass.—
(V. 110,
REPORT for 1919. V.
10% In stock and 4% in Liberty
2%. V. 104. p. 2457.
In
The total
$7,500,000 6%
issue of
1195, 1421.)
p.
U. R. S. CANDY STORES CO., INC.—ORGANIZATION.—Incorp. in
Del. on or about July 25 1919.
United Retail Stores Corporation (see
above)
a largo interest.
Has power to manufacture candy and
products and sell these products through a chain of retail stores in
owns
kindred
the United States and throughout the world.
Authorized capital of
000 shares— all Common stock—having no nominal or par value and
THE UNITED MOTORS CORPORATION.—See General Motors Corp.
PAPER
BOARD
CO.—(V. 109, p.
886,
1994; V.
110, p.
260, 1858.)
UNITED RETAIL STORES CORP.—ORGANIZATION.—Incorp. in
Delaware June 9 1919, to establish a system of manufacturing business and
chain stores throughout the world for merchandising of all kinds.
V. 108, p. 2439, 2638.
Official statement to the N. Y. Stock Exchange in
Candy makers. New Orleans, doing annual business of from $1,250,000 to
$2,000,000.
Plans are under way for the acquisition of other companies.
Has purchased a factory in N. Y. City.—(V. 110, p. 881.)
Miss L. I. Entwisle and Edw. A. Wadsworth; Sec., A.
Geo.
has acquired 65,371 shares of United Cigar Stores Co.,
of America Common stock, in accordance with its offer to acquire the out¬
standing Common stock by issuing therefor two shares of united Retail
Stores Corp. 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.
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. S.
Candy Stores Co., Inc. (which see below), the United company itself sub¬
scribing for all the 400,000 Founders shares at $1 per share.
V. 109, p. 686.
Has also acquired a large interest in the business of Gilmer Bros.
V. 110,
p. 881.
In October 1919 an exchange of a majority of the Common stock of the
American Tobacco for the stock of the A.-T. Securities Company, $100 par
value of the former for four shares (no par value) of the latter was arranged
by the Whelan-Duke interests, which also acquired control of Montgomery,
Ward & Co. and recapitalized with same name as an Illinois corporation.
—V. 109, p. 1373, 1528, 1707, 1900, 1994.
DIVIDENDS.—An initial Common dividend of $3 a share was paid
Feb. 1 1920.
The payment was for no stated period.
the Pref. stock was paid but none
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 fior 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.
if the liquidation be voluntary and (6) par and div. if involdntary.
V. 109,
STOCK.—In July 1919 10 shares of
issued; 160,000 shares of the Founders
P'EARNINGS.—For
Federal
6 months ended Jan. 31 1920: net profits before
$4,706,332; dividend, $1,675,047; surplus, $3,031,285,
taxes,
OFFICERS.—President, George J. Whelan; Vice-President, Wm. R.
Perkins; Vice-President, Sidney S. Whelan; Vice-President, Samuel B,
Woods Jr.; Secretary & Treasurer, Alex. H. Sands Jr.; Assistant Secretary.
R., A. Norriss; Assistant Secretary, S. W. Myatt.—(V. 110, p. 881, 977,
wvii
N in"
om
Com .)
i
4
i
——
The company in
_
able in quar.
192°.
Calendar Years—
Net operating
Other income
$1,820,744
59,004
42,351
30,154
$6,344
424,706
85,341
$1,600,58)
405,907
$1,863,095
85,641
403,640
17,341
$1,569,806
144,000
117,255
y$503,703
$1,109,037
$1,324,140
$1,308,641
;
Depreciation reserve
Surplus for year
Loss after deducting maintenance, taxes,
y
SHOE
i.426.
Clayton Act suit, see V. 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.
to this and the
,
DIVIS.—
On common. %
V07.
\ 8
Extra cash
Extra stock
adjustments of inventories,
Loss.
OFFICERS.—Pres., L. R. Lemoine; V.-P. pro tern., W. T. C. Carpenter.
Chas. R. Rautb, Asst. Sec. & Asst. Treas.,
Burlington, N. J.
DIRECTORS.—Geo. B. Hayes, Colgate Hoyfc, Colgate Hoyt Jr., A. O,
Overholt, E.G. Fuller, George J. Long, P. J. Goodhart, W. T. O. Carpen¬
ter. B. F. Haughton, N. F. Brady, J. C. Brady and L. R. Lomolne.—(V.
110, p. 1096, 1180.)
Sec. & Treas., B. F. Haughton,
„
25
'09.
'08.
8
8
2
10
'10.
8
4
10
'11-'14.
8 yrly
....
'15.
'10. '17. '18.
8
8
8
10
10
0
—-
—
Text
8
*1§.
8
4
6
—
--
1920.
See
text
,
,
DISTRIBUTING CORP.—(V. 110, p. 473, 772.)
UNITED STATES
CO.—Incorp. in IS J 3 in Mij ie. V. 63
20,)03,000 envelopes daily. V. 87, p. 1360;
UNITED STATES ENVELOPE
p.
V.
1003.
Capacity
102, p. 1442.)
"TATE
DIVS.
Preferred
Oommon
do
1903,
*07-'08. *09. TO. 'II-T2. T3. *14foT6. '17. *18. '19
'20.
6 y'ly. 9%
8 9Ky'lyllK
7% y'ly. 7
7
7 3K,2K 7% y ly 7
7
7 3K.~
common stock in March. —
2K 2K 2K - 2K
<%)..
(%)
extra on
-
BONDS.—The first mortgage 5% serial gold bonds ot 1908 ($2,500,000
authorized iRsue) mature Deo. 1 yeanv trum 1910 to 1937.
In Nov. 1908
$2,000,000 were sold (falling due
$50,000 yearly from 1910 to 1924. $100,000
1930 to 1934.
V. 87, p. 1360, 1163.
In
due $200,000 per annum
from 1925 to 1929 and $150,000
May 1920 sold $1,000,000 serial 7% gold notes,
from June 1 1921 to 1925.
V. 110, p. 2200.)
REPORT.—Year ending Dec. 31 1919, V.
Calendar
Year—
1919
Net
Profits.
$1 630 189
1918
1,713,619
1917
1 042 518
1916"::::: 1:861.329
110, p. 877:
i
Pf» Divs• Com.Divs. Balance^
<7%). <9>1&7%). Surplus.
$280,000
$71,250
$292,714
Bond
Res. for
Inter est. Taxes, &c.
$77,291
$908,934
79 792
82 292
84.791
996 727
170,779
705.842
280,000
280,000
_
280.000
71,250
285,850
71,250
438,197
52.500
738.199
Treas., Wm. O.
TftfFfCER&.—Pres., 6. 33. kutchlns. Shrewsbury.
Wharfield, Springfield, Mass.
(V. 110, p. 877, 2200.)
U
S
FOOD 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 s 1919 present name was
adopted and the corporate powers were enlarged to include the right
to
manufacture food and feed products of all kinds and products and by¬
products of all kinds, of grain, beets, molasses, and other materials of all
kinds; and to own, lease and operate central denaturing plants and ware¬
houses for denaturing alcohol and spirits."
The change of name in no
wav affects
the corporate identity of the company or its property.
Com¬
pare V. 108, p. 151o, 1168. 1063; V. 109, p. 80.
Day; Sec., W. M.
The U. S. Supreme Court on May 20 1918 refused to order the dissolution
of the company for alleged violation &f the Sherman Anti-Trust Law.
As
$1,539,742
$1,541,581
...
Interest
&c.
1916.
82,557
__
__
showed:
x$76,213
income-
Total income
„
ending Dec. 31 1919, in V. 110, p. 1180,
1919.
1918.
1917.
year
Deprec.
MACHINERY
CORPORATION.—ORGANIZA¬
TION.—Incorp. In N. J. V. 80, p. 1862.
Properties, V. 68, p. 333, 430;
V. 74. p. 430; V. 75. p. 851; V. 80, p. 1486; V. 91, p. 878; V. 92. p. 1699;
V. 97, p. 1359; V. 99, p. 275.
The merger of the United Shoe Machinery
Co., the operating company, with the United Shoe Machinery Corvoration,
the holding company-(which owned, March 1 1919, all except $83,573 of
the Common stock) was finally consummated Nov. 30 1917.
V. 105,
p.
--
^
*~REPORT~For
x
•
Feb. 1920 declared a div. of 5% on the pref. stock, pay¬
installments as follows: Mar. 13, June 15, Sept. 15 and Dec. 15
1085.
UNITED
J. Wise*
H. Sands, Jr.; Treas.,
Watley.
UNITED STATES CAST IRON PIPE & FOU N D R Y CO .—ORGANI¬
ZATION.—Incorp. in N. J. March 13 1899.
V. 81, p. 233; V. 69. p.,757;
V. 71, p. 1124.
Properties, rights of stocks, &c., V. 85, p. 157, 1522;
V. 103, p. 1709; V. 109, p. 1086.
1917 to Dec. 1920.
DIVS.)'07. *08. '09. '10.'11. *12.'13. '14. *15. '16
Pref%( 7.3X5H 4 2K 2 4
2
0
4 5% yrly (IK Q-M)
retail
V. 109, p. 585.
The corporation
1,250,having
equal rights and privileges, viz.: (a) 400,000 Founders' shares, (6) 850,000
class "A
shares.
In Sept. 1919 acquired the business of Fuerst & Kraemer
OFFICERS.—Pres., Edw. Wise; V.-Pres., Irvin Fuerst; Goo.
DIRECTORS.—Effingham B. Morris, Samuel T. Bodlne (ex-offlcio)
T. Stoteebury, Randal Morgan, Wm. Wood, Thomas J. Dolan and
Morris L. Clothier.
Pres., Samuel T. Bodine; V.-P., Randal Morgan;
V.-P., Walton Clark; V.-P. & Gen. Mgr., Lewis Lloyd; V.-P., W. F.
Douthirt; V.-P., Paul Thompson; V.-P., P. H. Gadsden; Treas., I. W.
Morris; Sec., Geo. W. Curran, Board & Arch Sts., Phila.—(V. 110, p.
1283, 1638, 1650, 1979.
E.
UNITED
K
Common stock and $2,500,000 7%
V. 104, p. 1050.
an
*
Loan bonds, In addition to the regular quarterly
1920: Jan. 5, 2%; April 5, 2%.
On July 5 1916 6% extra in cash; also on July
Stockholders of record May 7 were given the r ght
to subscribe between
May 17 and June 15 for 122,060 shares of said Preferred stock at par ($50)
per share to the extent of 10% of their holdings,
/
-
••
to $50,473,350; In 1910 to $55,520,700.
V. 80. p. 1600: V. 83. p. 1201
Shareholders of record May 12 1917 were allowed to subscribe at par
do
do
30.774,180 6K 1919
Q—J15 Apr 19 *20 IK By check
470,217
A
1 1927
Bankers Trust Co, N Y
&
O Oct
5.546,854
§ 8
do
MAS Sept 1 1920
c
^
6 e
265,000
1,000
1895
5
12.000,000
X752.000
1,000
Serial gold notes due
000 shares, par $50
stock.
Where Interest and
Places
Text
100
1st M g part
Maturity
Feb 1 1920
100
fd
and
""None""* 593,240 shirs
Pref (a & d) stock 6% cumulative $15,000,000 (see text).
U S Cast Iron Pipe & Fdy Co—Com stock $15,000,000 auth
Preferred stock 7% non-cumulative $15,000,000 auth
American Pipe & Foundry first mtge $1,500,000 sk
United States Envelope—Common stock $1,000,000
Preferred stock (a & d) 7% cumulative $4,000,000
Last Dividend
195,000
.....
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
233
INDUSTRIAL STOCKS AND BONDS.
234
MISCELLANEOUS
Date
Amount
Rate
When
Value
Outstanding
%
Payable
See text
Text
1916
United States Qypsum Co—Common stock
Prcf stock 7% cumul
Debenture notes $1,000,000 redeem 101
CC
U 8 Industrial Alcohol Co.—Common stock ($24,000,000)
Pref stock 7% cum guar red text
Securities of Subsidiaries Held by Public—
Par
Bonds
COMPANIES
[For abbreviations, Ac., see notes on first page]
1,0 0 &c
Text
100
100
Cuba Distilling Co pref stock (V 103, p 2158)
100
1,836.600
1915
1,000
1,000
1,000,000
1904
Purity Distilling Co bonds
U S Light & Heat Corp—1st M s f $1,000,000 gold call 105
United States Leather Co—See Central Leather Co.
U S Realty & Improvement—Stock $30,000,000 auth
N
Debentures $13,506,000 g conv to July 1 1908 red 105-N.c*
x
1,000
1911
100,000
100
7
Last Dividend
and Maturity
Places Where interest and
Dividends are
Payable^
Mar 30 *20
Mar. 30 '20
Sept 1 1921
June 15 '20
2
Apr 15 '20, 1
Q—F
ft
J
&
J
&
D June 1 1936
D June 11935
Checks mailed
do
15 Mayll5 19201 J*
6g
A G Becker & Co Chicago
Checks mailed
Feb 1 1915
16,162.800 See text
Q—F
J
&
J July 1 1924
5 Z
11.930,000
Amer Trust Co, Bos ton
Guaranty Trust Co
1% Checks mailed
Office 111 Broadway,NY
After deducting $748,000 in treasury and sinking fund.
Owns five large distilleries located at or near Louisville, one of these pro¬
ducing commercial alcohol.
V. 107;ip. 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
molasses 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 in the manufactures of alcohol
and various kinds of animal feed.
V. 109. p. 585.
On
Dec.
31
1919
the property
account had been written down from
$40,501,072 to $31,192,169, and the company held: Liberty bonds, $1,983,055 cash, $2,011,030, and merchandise and supplies carried at cost,
$5,050,696.
The total bonded debt also had been reduced to $5,811,854
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.
As to old Distilling Co. of America, compare V. 106, p. 610; V. 68,
p.1224.
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.,
N. Y., to take charge of the
export of the corporation's whiskeys, spirits,
alcohol and other products and by-products.
Pres., Normal R. Sterne.
Directors: Mr. Sterne, Henry H. Wherhane, Theodore F. Reynolds, Alvin
W. Krech and Julius Kessler, four of whom are directors of the U. S. Food
Products Corp.
Sale of plant by subsidiary company, V. 110,
p. 1096.
STOCK.—Authorized capital stock was formerly $32,500,000, but by
vote of the stockholders on March 19 1919, certificates for
$1,534,100
were canceled, leaving the
present auth. capital stock $30,965,900.
BONDS.—The $1,200,000 Amer. Spirits Mfg. Co. 1st 6s, due Sept. 1
1915, were extended for 5 years at 6%, prin. and int. being guaranteed by
Distilling Co. of America; sinking fund, $101,000 yearly, for purchase of
bonds or call by lot for redemption at 101 and int.
Y. 101, p. 133.
Out¬
standing Dec. 31 1919, $265,000.
Of the $16,000,000 Distillers 5s, $10,158,000 had been purchased,
acquired
by corporation and canceled; $295,145 issued but not used for conversion,
leaving $5,546,854 outstanding as of Dec. 31 1919.
DIV.—
\'07. 1908.12. '13-T5. *16 to Jan. *18 Apr.'18 to Jan.*20 1920
Percent
J594 2% yrjy. None.
3% yrly.
8% yrly.
text.
From April 1918 to Jan. 1920. inclusive, paid each quarter
)4 of 1% and
1 )4% extra.
In April 1920 paid 1)4% quar.
REPORT.—For year ending Dec. 31 1919, in V. 110, p. 1639:
Year
1919.
ended
Dec.
1918.
31
Year ended
1917.
June 30 "16.
Gross profits (all sources)
Not stated
Net income
x$3,354,947x110,514,810
x$5,497,377
Interest
on bonds
Written off prop, acct.Reserve no longer needed
Dividends
303,043
3,733,030
458,222
7,928,503
706,944
2,641,149
$4,806,755
$4,119,204
792,110
Cr. 141,530
(8%)2,462,594 (8)2,462,787
(2)616,117(1)4)484,548
Balance
dof$3.143,720 def$193,172Sr$l,533,166Sr$2,842,546
x After
providing for income and war excess profits taxes.
DIRECTORS.—Alvin W. Krech (Chairman), Julius Kessler (Pres.),
Charles F. Ayer, James E. Brodhead. and Theo. F.
Reynolds, Henry H.
Wehrhane (V.-P.), Theodore B. Wagner (V.-P.), Oscar L.
Gubelman, E. Y.
R. Thayer, Joseph C. Baldwin
Jr., Daniel K. Weiskopf (V.-P.).
Other
officers: M. A. Holzinger, Sec.; Thos. A. Clark, Treas.
Office, 15 Exchange
Place, Jersey City; 40 Exchange Place, N. Y.—(V. 110, p. 10 ,6, 1195, 1639,
1650, 2083.)
UNITED
STATES
GYPSUM
CO.—ORGANIZATION.—Incorp.
in
Manufactures
products, includ¬
New Jersey Dec. 27 1901 as a consolidation
(V. 74,0.1138).
all classes of gypsum hard-wall
plasters and other
gypsum
ing cement, wood fibre, concrete, finishing, moulding and pottery
plasters,
stucco, Keene's cement and hydrated lime; fireproof partition tile, beam
and column
company
protection, floor tile and roof tile, plaster boards, Sec.
This
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 number of years,
the world's largest
producer of gypsum (plaster of paris), doing about 40%
of the business in the United States.
Its principal
or mines,
United
mills, quarries, warehouses
States.
properties, consisting
are
located in different parts of the
STOCK.—Early in 1920 announcement was made that the company
would re-incorporate and
re-capitalize under the laws of Illinois.
The
capitalization will
be
increased from $10,000,000 to $18,000,000.
The
$6,000,000 Preferred and $4,000,000 Common stock,
value.
Under the recapitalization plan there will be
$10,000,000 Preferred, part of which will be exchanged share for share for
old Preferred and 400,000 shares of Common
stock, either $20 par or no
par value, representing $8,000,000.
The new Common stock will be ex¬
changed five sbaras for one of old Common.-—V. 110, p. 1533, 666.
DIVIDENDS.—On Pref. stock:
1906, 3)4%; 1907, 7H%\ 1908, 5%;
1909, 6%; 1910 to 1912, 5% per annum; 1913, 5)4%: 1914, 6%; 1915,
6)4% cash and 43% on all accumulations; in Common.stock (V.
101,_p. 136,
619, 1633) 1916 to date 7% per annum.
On common, 1% each on Dec. 31
company now has
of $100 par
both
1919 and Mar. 31 1920.
EARNINGS.—Calendar year 1919, in V. 110, p. 1639, shows:
Net
Repairs,
Bond.
Pref.
Common
Balance,
Profits.
Depr.,&c. Int., &c. Die.(7%). Div.(l%).
Surplus.
1919
$1,288,110 x$222,000
$387,567
$39,049
$639,494
1918
1,418,563
x688,794
70,447
373,026
286,296
1917
1,288,673
x485,006
70,431
372,844
360,392
1916
1,092.178
347,332
94,411
343,966
306,469
x Includes
reserve
for Federal taxes, 1919, $222,000; 1918,
$98,012;
1917, $78,726.
Pres., S. L. Avery; V.-P. & Treas., S. Q. Fulton; Sec., S. T. Meservey.
Office, 20o West Monroe St., Chicago.—(V. 110, p. 666, 1533, 1639,
..
..
1950,2200.
U.
See text
7
Q—M
M
&
S
5
$1,000,000
24,000,000 14 in '19 Q—M 15
7
6,000,000
Q—J 15
$100
[VOL. 110,
S.
INDUSTRIAL ALCOHOL CO.—ORGANIZATION.—Incorp.
Virginia Oct. 17 1906 and manufactures denatured and Industrial
alcohol, &c.
The distilleries of the subsidiary companies were taken over
In West
Jan. 1
2100.
trolled
1918.
Also controls U. S. Industrial Chemical Co.
V. 105, p.
V. 84, p. 343: V. 101. p. 777.
The Distilling Co. of America (con¬
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 pref. 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 1918 purchased an additional distillery at Peoria, 111., for
the purpose of
manufacturing alcohol to meet the growing demands for the
use of that
commodity in making powder for the Govt. V. 106, p. 1143.
and June 14 1918, 4%.
V. 106, p. 507; V. 105, p. 507, 2549.
The Colum¬
bus 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. l66, 782.
In the annual report for 1919 Pres. Harrison
stated: "Our fuel 'Alcogas' for internal combustion
engines was satisfactorily
Kroven, as and efficiency andas well as inin the mail plane automobiles and
economy, the operations of service between
Tew Ycrk to Washington,
truckA large fuel mixing plant is
nearing completion in Baltimore, so
that the
company will be in position to market through 'Alcogas' any sur¬
plus production of alcohol."
STOCK.—Pref. stock may be redeemed on any dividend date at 125 and
accrued dividend.
No mortgage without consent of 2-3 of pref. stock.
Notes payable as of Dec. 31
1919, $3,264,000.
The shareholders voted Oct. 7 1919 to increase the com. stock from
$12,000,000 to $24,000,000 com.; shareholders of record 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 Apr. 15 1920, 1)4%
Q.-J. On Aug. 21917 a cash div. (No. 1)16% was declared on common stock
out of 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; Mar. 1020, 2%; June 1920, 2%.
V.
109, p. 782, 1994; V. 106, p. 507; V. 105, p. 507, 2549.
REPORT.—Report for cal. year 1919, in V. 110, p. 1412, showed:
1919
Net, after deprec., &c„ $4,426,265
Interest
Res. for Federal taxes..
U.S. ind.fPref. (7%)
—
Ale.
Co.
(Com. (16%).
Cuba Dist. Co. pf. (7%)
Special amortization
Depreciation
Balance, surplus
1918
1917
1916
$14,073,'l02
$12,510,077
315,048
162,434
6,998,182
5,239,861
420,0 0
420,000
1,920,000(16)1920,000(32)3840,000
128,562
128,562
128,562
1,887,207
621,199
$5,044,344
159,758
465,843
375,803
420,000
$494,858
$2,394,101
OFFICERS.—ITes., F. M. Harrison; Sec.,
Robinson.—(V. 110, p. 568, 1412 )
A. G.
420,000
128,562
$2,720,420
$4,336,024
Joseph Malone; Treas.,
U. S. LIGHT & HEAT CORPORATION —ORGANIZATION.—In¬
corporated in N. Y.j June 28 1915, per plan in V. 100, p. 1924, is successor
of U. 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; com., $4,000,000. outstanding Dec. 31 1918; com., $3,778,250;
prer.
$2,995,150; notes payable, $681,145.
Bonds auth., $1,000,000.
Circulars to shareholders in 1918, V.
107, p. 702, 808.
In Aug. 1919
John N. Willys and associates, it is
understood, purchased control.
Mr.
Willys becoming Chairman.
REPORT.—For 1)4 years end. Dec. 31 1918 was in V. 108, p. 2121,
ehowing:
18 Mos. to
„
Dec. 31 *18.
,,
Net shipments billed...
Total net income
Deduct—Net interest and discount..
Reserve for bad accts. charged to oper
$7,030,039
$497,092
116,114
30,480
June
30
Years-
1916-17.
1915-16.
$3,017,874
$1,751,365
$91,131 loss$211,397
60,260
24,100
18,017
12,909
Balance, surplus
$350,498
$12,854
OFFICERS.—Chairman, John N. Willys; Vice-Chairman,
Pres., J. Allan Smith; V.-P. & Sec., C. L. Lane; Treas., B.
Directors, V. 107, p. 808.
Office, Niagara Falls, N. Y.—(V.
702, 808; V. 108, p. 2121; V. 109. p. 686.)
loss$248,406
E. H. Gold
J. O'Reilly.
107, p. 298.
UNITED
STATES REALTY
&
IMPROVEMENT CO.—ORGANIZA¬
on May 26 1904 and in May 1906 had acquired
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. stock of the U. S. Realty & Construc¬
tion Co.
See list of assets, &c., 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. 1465; V. 92, p. 1433; V. 85,
p. 1344,
1406; V. 90, p. 307. 633.
Owns $403,300 of $2,000,000 Alliance Realty
Co.stock.
V
81. n. 1798: V. 82. n. 1209: V 83. n. 822; V. 90. d. 1422.
Statistics of the George A. Fuller Co. for Years'Ending
April 30.
TION.—Incorporated In N. J.
per
_
„
,
1918-19.
.
Unfinished business at beginning of year
New business during year
Work executed dining year
1917-18.
$38,621,370 $24,385,277
37,398,197
48,601,964
51,047,048
34,365,870
Unfinished business at end of year
$24,972,519
38,621,370
The contracts of the Carolina
Shipbuilding Corp. are included in the
foregoing.
V. 106, p. 2646, 2350; V. 109, p. 266.
SJiCt'ttlTIEt*.—uf uie stock $13,6Uti uuO is reserved Tor conversion of
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.
Bills payable as of April 30 1919, $1,800,000
loans
V. 90. p. 241, 378.
(partly secured by collateral);
on
mortgage outstanding, $14,162,000 (in 1917 $14,443,000), as
against real estate and bldgs. owned valued in balance sheet at $35,814,864.
Guarantees prin. & int. $7,000,000 Trinity
Bldg. Corp.
5)4 loan.
V. 108, p. 2248.
DIVIDENDS—
(1907
1908
1909
1910-13
1914
Percent..
(N. Y.)
1915
1
4)4
4)4
4)4
5 yrly.
3)4
REPORT.—For year ending April 30 1919 in V. 109,
p. 266:
m
,
,
Total earnings
Net earnings
Interest on deb. bonds..
1918-19.
$3,083,964
$2,076,596
596,500
1917-18.
$2,417,173
$1,371,921
596,500
1916-17.
$2,432,243
$1,089,892
596,500
1st M.
1916-18
0
1915-16.
$2,600,838
$1,197,349
596,500
Surplus
$1,480,095
$775,421
x$493,392
$600^849
Subway contracts, practically completed in early 1918, see V. 106.D.2647.
Profit and loss, deficit. April 30 1919, $6,957,754
!
DIRECTORS.—Paul Starrett
(President),
O.
E. Mitchell,
Harry
Bronner, Harry S. Black, Frank A. Vanderlip, John F. Harris, Charles E.
Herrmahn, A. L. Humes, H. O. Winsor (V.-P.), R. G. Babbage is V.-P. &
Sec., and A. E. Hadlock, Treas.; Harry Bambach, Aud.
Office. Ill B'way.
N. Y.—(V. 108, p. 886, 2131, 2248, 2439; V. 109, p. 266.)
INDUSTRIAL STOCKS AND BONDS
Mat, 1920.]
MISCELLANEOUS COMPANIES
[For abbreviations. Ac., see notes on first page]
Date
Bonds
United States Rubber—Common ($200,000,000 authorized).
First Pref (a & d) $100,000,000 8% non-cum (see text)
First & Ret Mtge (see text) call 105 after 1919
yc*Ar*
Five-year collat gold notes $6,000,000 call (text)—xxxc*
Underlying Bonds—
Canadian Oonsol Rubber Co Ool Tr call 110—
c*
do
do
First and Refunding Mortgage (see text)
U S Smelting, Refining & Mining—Com stock $37,500,000 —
Preferred (a A d) stock 7% cumulative $37,500,000......
Convertible gold notes callable at 110 A Int....——c*
Bonds of sub cos not owned Jan 1 1919
1917
Par
Amount
Rate
When
Value
Outstanding
%
Payable
100 Ac
1916
500 &c
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,
6.ubber Plantations, Inc., was organized in v. 106, p. owns allUnited States
713. U. S. Rubber Plantations Co., see 1917 and 1033. the Sumatra
All the outstanding pref. and
U. S. Rubber Co.
V. 108,
2131.
The plants of the old Rubber Goods Mfg. Co., Morgan A Wright, Ac.
(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. p. 1236.
In June 1919 owned all except $284,000 of the capital stock of Canadian
Oonsol. Rubber Co.
V. 104, p. 364; V. 90, p. 1293; reports for 1916,
V. 104, p. 2638; V. 105, p. 712: V. 104, p. 2554.
Contracts with Winnsboro Mills of Mass., V. 109, p. 2178..
Purchased the Dolgeville Felt Shoe Co. in Jan. 1920.
V. 110, p. 270.
9 1919, stockholders voted (Y. 109, p. 585, 686,
(1) to increase the authorized First Preferred and Common stocks
$100,000,000 and $200,000,000, respectively; (2) to retire the $403,600
2d Pref., which was accordingly retired in Oct. 1919; (3) to offer $36,000,000
new Common stock (underwritten) at par to the Common stockholders of
record Sept. 13 1919In Jan. 1918 American International Corp. had acquired an important
Interest.
V. 106, p. 93.
DlV.(since'04. 1905. 1906-*10. '11. 1912.
'13. '14. '15. '10-'18 *19 '20.
STOCK.—On Sept.
895,1468)
to
„
,
,
2
text
None
1 4A20stk 5H 6
3
nil
%^8 yearly (2% Q.-J. 31) to and including Jan. 31 1920
----%10 yearly (If4<r <J.-J. 31) to and including Oct. 31 1919
(l.j/% - On com. paid 2% each in Oct. 1919 and Jan. A April 1920; also a stock
dividend of I2f4% in com. stock on Feb. 19 1920.
V. 110, p. 174.
Common,
%f
First prer,
2d pref
'
BONDS.—In Jan. 1917 the company sold $60,000,000 First A 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, Ac., V. 104, p. 254, 262, 1806; V. 105, p. 395.
First A 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 the extent of any Increase in the authorized
time to time thereafter may be consented
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 foit cash actually paid in.
Bonds, however, additional
to the initial $60,000,000, can be issued only with the consent of Kuhn,
Loeb & Co. and (except for refunding) only when the total unencumbered
quick assets exceed the aggregate debt of the companies and their total
annual net Income for
three 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
Oonsol. Rubber Co. bonds, due Oct. 1 1946, and $9,000,000 have been
Issued and pledged as collateral for the $0,090,000 5-year 7% Collateral
notes of 1918 below described.
Compare V. 105, p. 1528, 820, 1809; V.
107, p. 2104.
Sinking fund for First A 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 of following years.
amount of said bonds which from
to
COLLATERAL NOTES.—It was announced In Oct. 1918 that the com¬
pany
connecting the coal mines with the Denver & Rio Grande RR.
1919.—(V. 109, pi 1615.) *
Leading
Subsidiaries—
U.S. Smelting.
Ref.
Refunding 5% bonds of the
They are redeemable at option of the company as a
whole, but not in part, on any interest dates on and after Dec. 1 1920, at a
trustee, of $9,000,000 First A
U. S. Rubber Co.
ate of maturity.
Sremium of 1 % for each six months between the redemption date and the
REPORT.—For year ending Dec. 31 1919, in V. 110, p. 1522:
1919.
1918.
1917.
1916.
Total sales.
..$225.589,465S215,398,425$176.159,694$126J59,129
16,072,042
15,340,577
10,398,195
Net Inc. avail, for divs__ 17,730.237
Divs. U. S. Rubber Co.:
First pref.
\ 5,041,476
Second
J
(8%)
pref. (6%)
Common (4%)
Divs. to minority stock¬
holders (sub. co's)
4,937,776
24,216
4,937,154
24,216
4,810,284
19,510
20,693
119,238
25,560
^
2,098,576
19,567
surplus.....$10,570,618 $11,090,540 $10,358,514
$5,443,113
DIRECTORS.—Frank A. Vanderlip, C. Bt Seger, J. S. Alexander,
Samuel P. Colt, H. E. Converse, James B. Ford. James Deehler, Henry
L. Hotchkiss, Lester Leland, Nicholas F. Brady, James O. Brady, Walter
8. Ballon, Mlddleton S. Burrlll, Francis L. Hine, Samuel M. Nicholson,
Wm. H. Truesdale, Raymond B. Price, Homer E. Sawyer, ElLsha S.
Williams, Nathaniel Myers, Ernest Hopkinson, Sir Mortimer B. Davis and
J. Newton Gunn.
OFFICERS.—Chairman,
Samuel
P.
Colt;
Sec., Samuel Norris; Treas., W. H. Blackwell.
58th St.—(V. 110, p. 174, 666, 1522.)
Charles B. Seger'.
N. Y. office, 1790 B'way,
Pres.,
cor.
UNITED STATES SMELTING, REFINING St MININO CO.—OR¬
GANIZATION.—Incorporated Jan. 9 1906 in Maine and has acquired
control of extensive properties (compare V. 82, p. 105). Including (a) mining
properties located at Bingham, Utah and Eureka, Nev., Chloride and
Geldroad, Ariz., Kennett, Calif., Kansas, Okla, Mexico, Ac., producing
copper, lead, zinc, silver and gold,
(b) U. S. Metals Refining Co., which
has at Chrome, N. J., an electrolytic copper refinery with a capacity for
refining 240,000,000 lbs. of copper annually and a copper smelter, annual
smelting charge 200,000 tons, also at East Chicago a plant with an annual
Purchase In
Property—Annual Capacit.
Mines. Smelters, Ac. (1918).
Bingham, shipped, 169,221 ton. «
See
pref.1,550,000
Oent.-Eureka.. 2,500,000
Mammoth
1,500,000
Gold Road
1,574,555
Needles M. 8c 8. 3.374.435
Monte y
Pa-1
Report below.
$506,700 None
(Plants at Chrome,
470,000 None
N.J.,etc.)
Eureka (mined 29,558 tons 1918)
$500 ~
*
None
Kennett (mined 77,695 tons 1919)
None
Gold Road
None
Arizona
f(Oia de Real del Monte y
Pachuca.V. 108, p.1510.)
pf.J2.554 sh. 20 shares Mexico \
Richm.- Eureka 3.093,975 1,271.845 Eureka (not in operation In 1918)
Niagara.......
650.005
38,498 Bingham, Utah (being developed)
U. S. Fuellpref.2,355,690
$996,071 Coal output in 1918 1,272,081 tons.
Co
fcom.7,000,000
None
Utah Ry. Co.. 3,065,200
None
The united States Fuel Co., formed in 1915, under laws of Nevada (V. 100,
p. 1173), has outstanding $3,636,300 First and refunding 6% bonds (or
which $3,424,800 were owned in 1919 by the U. S. Smelting, Refining A
Mining Co.), and has also assumed the $303,000 outstanding joint 1st
mtge. bonds of the Consolidated Fuel Oo. and Southern Utah RR.
The
coal properties at merger embraced 8,016 acres of coal.
The coal mines
produced in 1918 1,272,081 tons, an increase of 363,443 tons over 1917, and
are opened and partly equipped to produce 3,000,000 tons a year when the
market required it.
Stocks of subsidiary companies not owned Dec. 31
1918, $2,887,368; bonds, $514,500.
LATE DIVS.—
\'08 to '11. *12. '13. '14. '15. '16. '17. '18. 1919.
OnCom. stock
%) 4 yearly
5
6
3
l&j 8Y> 10 10 10H
On Oct. 15 1919 and Jan. 15 and April 15 1920, divs. of 3% were paid on
the com. stock.
Previous divs. were 2\$% quar.
V. 109, p. 1280.
chuca
NOTES.—The company sold in 1916 (V. 102, p. 615, 1714) $12,000,000
10-year 6% Convertible Gold Notes, dated Feb. 1 1916 and due Feb. 1 1926,
convertible at any time, at the option of the holder, into common stock
on the basi9 of $76 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
made by any subsidiary companies except on the coal properties controlled
and on the Utah Ry.( v. 104, p. 1386.) Other notes Jan. 1 1919, $1,470,000.
in V. 109.
Net earnings approximately $3,083,704; deduct $1,043,223
depreciation, depletion. Federal taxes on last year's income and the
marking own of metals, which occurred in the first quarter, leave
esti¬
mated net profit of $2,040,481, being at the rate of 7% p. a. on the Pre¬
ferred stock plus $3 39 per share for the six months on the Common stock
or at the rate of $6 78 per share p. a. (13.56%) on the Common stock.
EARNINGS.—For six months ended June 30 1919, circular
.
I
80, showed:
*or
showed;
1917.
REPORT .—For year 1919. in V. 110, p. 1121,
1918.
1919.
(Incl. Custom Ores)—
Copper, lbs
8,919,044
20,359,378
29,043,242
1916.
28.888,093
96,567,485 107,519,570 103,855,451
68,648,864
15,337,465
13,000,187
11,647,205
17,758,498
137,315
109,612
129,273
146,749
18,771,684
53,590,446
64,584,001
7,680.548
$7,249,533
$5,769,391
$9,737,664
Net earns., after repairs. $8,329,055
2,474,443
1,571,576
839,200
Deprec'n & reserve funds
2,707,939
x
692,500
1,000,000
Federal taxes & deposits
1,252,602
Pref. dividends (7%)--1,702,225
1,702,225
1,702,225
1,702,225
Common dividends. (11 %) 1,931,132 (10) 1755,575 (10) 1755,575 (83^)1492239
Lead, lbs
Silver, oz
Gold, oz
Zinc, lbs
—
Balance, surplus.
Federal
x
-
-
taxes
$3,007,857
$1,317,290
$47,515
$4,704,000
in 1918 will be charged to profit and loss
not shown
W
OFFICERS.—Pres.,
C. G. Rice; Sec. A Treas., F. Winthrop Batchelder
Office, 55 Congress St., Boston.—(V. 109, p. 2446; V. 110, p. 1421.)
STATES STEEL CORPORATION.—ORGAN.—Incorp. in
V. 72. p. 441
679; V. 73, p. 349: V. 85, p. 1467.
decided favorably to the corpora¬
tion the Govt, suit to dissolve the corporation for alleged violation of AntiTrust law.
V. 100. p. 1873. I860; V. 93. p. 1203. 1263.
Appeal taken
V. 101, p. 1482; V. 103. p. 1597: V. 104, p. 769, 2123: V. 106, p. 93; V.107
p. 1673.
U. S. Supreme Court dismisses suit for dissolution, V. 110, p. 925.
The Govt, asked for a rehearing (V. 110, p. 1858), but this was denied on
May 3 1920. Wage increase 1915 to 1919, about 130%. V. 106, p. 1477,
1583; V. 107, p. 516.
Federal Shipbuilding Co., V. 105, P-392.
Prices.
Ac., fixed by U. S. Govt. In 1917-18, V. 105, p. 1319,1626,2190. 2372, 2549:
V. 106, p. 404,1905; V. 107, p. 1389.
Eight hour granted, V. 107, p. 1292.
UNITED
N
J.
on
Feb. 25 1901
On June 3 1915 the U. S. District Court
Steel prices, &c., V. 107, p. 1252,
In Junel919 purchased Empire
000.
Balance,
($?)
com.1,550,000
had sold to Kuhn, Loeb & Co. $6,000,000 of Its own 5-year 7% col¬
needed being supplied by the U. S. Rubber Co.
V. 107, p. 1673, 1843,2104
The new notes are secured bv deposit with the Industrial Trust Co. of
Co..
Public
Holds.
None
Stock
Issued.
U.S. Metals)
proceeds to retire on Dec. 1 an issue of $9,000,000 5%
debenture bonds of the General Rubber Co.' The remainder of the funds
as
do
capacity for refining 72.000,000 lbs. of lead,
(c) Through U. S. Smelting
Co., lead smelter at Midvale, Utah, smelting charge 481,000 tons yearly,
and zinc smelters at Altoona, Kansas, and Ohecotah, Oklahoma, combined
capacity, 90,000 tons of ore a year,
(d) Copper smelter at Kennett. Calif.,
yearly capacity 450,000 tons,
(e) Through Utah company and subsidiaries,
coal mines that produced in 1918 about 1,272,081 tons of coal,
(f) The
46H-mile standard gauge Utah Ry. (wholly owned—see V. 108, p. 1510),
lateral notes, the
Providence,
B'way, N Y
A
6
A
O Oct 1 1946
2,600,000
Bank of Toronto, Mont'l
As collat
5
J
&
J Jan 11947
17,555.750 11W19
Q—J
Checks mailed
Apr 15'20 3%
24,317,500 7 In 1919
Q—J
do
Apr 15 20
\H
F
&
A Feb 1 1926
6 g
12,000,000
Boston and New York
514,500
50
50
UNITED STATES RUBBER CO.—ORGANIZATION AND PROP¬
ERTY.—Organized in New Jersey in April 1892; V. 55, p. 1039; V. 56, p539; V. 71, 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
p.
Places Where Interesffand
l ividends are Payable
$100 $81,000,000 See text
See text
Q—J
Office 1790
100 63,022,100 8 in 1919
do
Q—J
Apr 30 '20 2%
J
&
J Jan
1 1947
59,207.000
New York
S8
J
&
7 g
D Dec 1 1923
1,000
6,000,000
New York
....
rubber plantations of the U. S. Rubber Co.
com. stock of which practically owned
by
Last Dividend
and Maturity
100 &c
1918
1906
1917
235
1153; V. 108, p. 1473.
City, for about $5,000,Building, N. Y.»
V. 108, p. 1733.
PROPERTIES
OWNED.—The
properties
owned
include 124 blast
furnaces,
334
open-hearth furnaces and
38 Bessemer steel con¬
verters, 11 steel rail, 63 bar, billet, Ac., mills; 14 structural shape mills;
24 plate mills; 85 merchant mills, producing bar iron, stroi, Ac.; 217 hot
mills, producing tin plate, Ac.; 24 rod mills; 51 welded and seamlessmills; 18 bridge and structural plants; 15 skelp mills; 20 complete
foundries; 155 sheet, jobbing and plate mills; 10 piercing and rol ng
mills; 71 wire mills; 51 galvanizing and tinning mills; 14 splice, bar, spike,
bolt, Ac., mills; 5 cement plants; 66 warehouses; 45 miscellaneous armor
axle. Ac., works, Incl. 2 plants comprising 76 puddling furnaces; 12 sul¬
phate of Iron plants; 21 iron, steel or brass foundries^extensive iron ore
mines in the Lake Superior region; owns or leases 219,205 acres of coking
coal and 80,059 acres of surface and 21,796 beehive -coke ovens, Ac., In
Pennsylvania and West Virginia; 2,558 by-product, coke ovens; 31, coal
plants not connected with coke plants; 115,362 acresJbf steam and gas
coal lands, Ac., railroads, lake vessels, ore docks, natural gas lands, Ac.;
also Southern coal and coke property owned by Tennessee Goal, Iron A
tube
Interests owned, 115,362 acres;
139,329 acres; surface only owned, 13,82
280 ovens at Fair¬
RR., consisting of mineral and surface
mineral interests only owned.
2,974 coke ovens, Ac.; 1 by-product coke plant of
field. Ala.
acres;
[VOL. 110.
INDUSTRIAL STOCKS AND BONDS
236
Dale
Par
Amount
Rate
Value
Outstanding
%
Payable
Coll trust
mtge/redeemable at 115 s f (see text).. LisJtc'&r
$304.000,0001 not redeemable s f (see text)
xc'Ar
"Sink fund" coll tr 2d M $250,000,000 g red (text) U».*c* Ar
Illinois Steel deb$30.000.000 g gu red 105 begApr'lSNxc* Ar*
1919
$100 $508302500 5%
United States Steel Corporation—com stock $550,000,000..
Preferred (a A d) stock 7% cumulative $400,000,000
Bonds of Cos. Controlled—(Additional to those
Steel Co—See third page preceding
Last Dividend
When
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, Ac., see notes on first page
100 360.281.100 7 in 1919
■
1901
1,000 Ac I
1901
1.000Ac] 230,709,000 t
1903.
500 Ac 176,347,000
1,000 Ac zl8.500.000
1910
5 g
5 e
x
Places Where Interest
Dividends
Maturity
g
In text.)
1912
1912
1,000Ac
l.OOOAc
St Clair Furnace first intge z gu * 100,000 yrly —„PPI.xc*
St Clair Steel first M g guar $100,000 due yearly..(jPi.xc*
St Clair Terminal RR first mortgage
x
1901
1,000
1.000
Elgin Jollet A Eastern first mtge ($10,000,000) gold.Ce jro*
Chicago Lake Shore & Eastern 1st M guar red 110 191r
Duluth & Iron Range first mortgage
MpJ
1891
1909
1887
Union RR first mortgage
1896
x
$115,000 yearly (Mai
Aug beg 19
June beg 19
1901
-J-.
1,000
1,000
1,000 Ac
1,000
1.000
17,231,000
1,980.000
600,000
501,000
10,000.000
9.000,000
8.151,000
2,000, (XX'
5 g
do
5
Aug I 1921-32
5
June 1 "23-'34
zl.200.000
5
Oct
1,000
1909
do
do
1 1955
Office, Empire Bldg, N Y
Sept 1 1930
4
546,000
do
Fidelity TltleATrCo, Pitta
Home Tr Co, New Jersey
do
do
Sept 1 1946
To Mch 1 1923
5
do
do
1 1937
900,000
1,000
1909
Office, Carnegie Bid,Pitta
See "x" on following page.
Their Share Capital, Practically All Owned
Total.
Stock of—
Total.
Am. Sheet A T.PL,7%pl $24,500,000
(V. 94, p. 986)
do
6% pref.. 53.260,900 Illinois Steel Co
50.000,000
National Tube, common. 45.000,(MX) Indiana Steel Co
3,600,000
do
7% pref.. 40,000.000 Universal Port. Cement.
Amer
Bridge Co....... 10,000,000 H. O. FrickCokeOo-(V. 93, p.1107)
^
Amer. St, A Wire, ooro.. 50,000.000 L, Superior Con. I. Mlnee$29,887,
do
26,000
7% pref.. 40.000,000 Shelby Steel Tube, com.
Tcnn. Coal, Iron A RR—See that co
65.250.000
Carnegie Steel Co
do
25,000 Union Steel Co
Amer. Tin Plate
3.600.000
Amer. Sheet AT. P. com. 24,500,(MM) Clalrton Steel Co
Tonnage of Unfilled Orders (00.000
Leading Subsidiaries and
Slock of—
Federal Steel, common..$46,484,300
...
_
_
—
stock of sub. cos. not owned,$431,342
to assets, Ac.. V. 93. p. 110, 79
1902 took over the entire capital stock of the new Union Steel
On Dec. 311919 par value of capital
Government report as
On Dec. 1
Co., $45,000,000 of new 5% bonds being guaranteed, principal and Interest.
See that company on a preceding page.
V. 76, p. 1359; V. 76, p. 107, 546;
V. 78, p. 1174.
In 1904 acquired Clalrton Steel Co., guaranteeing $10,230.000 bonds.
Tn 1908 purchased Schoen Steel Wheel Co.
V. 87, p. 101 229.
Output of Company in 1919 and 1918, Gross Tons (see V. 110, p. 1302).
1919.
Iron
ore
—
barrels
9,112,000
15,940,954
19,583,493
13,849,483
7,287,000
27
263,807
3
28,392
—
Coke manufactured
....
Rolled and other finished steel
Universal Portland cement
Ocean steamers completed and
25,423,093
28,893,123
15,463,649
5,835,289
13,637,504
17,200,373
products for sale.. 11,997,935
Limestone quarried..
Pig iron, ferro and spiegel
Steel ingots (Bessemer and open hearth)
delivered from ship¬
W. tonnage
In April 1906 the Indiana Steel Co. began to build a new plant at Garv, in
Lake Co., Ind., to cost about $115,000,000. See BONDS below. V. 82, p.
675. 637,702, 991. 1216; V. 83. p. 1123; V. 84. p. 635; V. 80. p. 731; V. 87,
721; V. 92. p. 732; V. 94. p. 840. 980.
In June 1913
the Canadian Steel Corp., Ltd,, was Incorporated In Canada with $20,000,000 stock to build a plant at Ojlbway, Ont., opposite Detroit, Michigan,
cost estimated at about $20,000,000.
V. 90, 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. 081.
V. 101. p. 1719.
Cash Dividends Paid on Common Slock Since 1906.
'07. *08. '09. '10. *1 - 13. *14. *15. '16. '17. '18. 19.
1920.
Regular
2
2
2X 5X 5 yrly. AX 0
5
5
5
5
l^.lM-,Extra
2
115*11
1
Rod Cross donation in 1918. V. 106, p. 2234.
In Dec. 1918 extra quar¬
terly dividend reduced from 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 o% bonus of 1901 were secured oy all the
securities owned* $154,000,000 only (series A. O and E> are sublet, to call
In whole or In psrt at 115% since April 1 1011, a sinking fund of $3,040 (MX)
yearly, beginning June 1 1902, can purchase Ponds, If obtainable at not
exceeding 115 and Interest, and since April 1 1911 may be applied to the re¬
demption of series A, C and E bonds to be drawn by lot
In Dec. 19'9,
$73,291,000. not Included In amount out, were alive In sinking fund.
In
Feb. 1916 some $22,800,000 of English holdings had been repurchased, it
was said .for use from time to time for sinking fund purposes.
V. 102,p.717.
The coll. trust sinking fund 2d mtge. 5r of 1903 (V. 74, p
584, 733,
892; V. 76, n. 545) are next In rank and similar In form to the 5s of 1901.
They are subject to call after ten years from date at 110 and Int. In whole
or part (If the latter to be designated
by lot and coupon bonds to be re¬
351. 484; V. 91.
p.
..
deemed
first).
An
annual s'nk.
ment of the bonds.
The
chasing bonds at not
fd.
of $1,010,000
will
provide
for retire¬
over 110
sinking
fund
used until Apr. 1 1913 In pur¬
was
and int., or invested In securities; since Apr. 1
1913 bonds may be drawn by lot, coupon bonds to be first redeemed.
All
bonds purohased are to remain alive and draw Interest.
No foreclosure
proceedings can be brought for default (in payment of prln. or Int.) contin¬
uing for less than two years,
in Dec. 1919 $23,607,000 not included
In table above
were held alive In sinking fund.
In 1903 $150,000,000 pref. stock was exchanged, $
for $, for second mtge.
$20,000,000 of the bonds being also sold at par to provide for Im¬
provements and $30,000,000 exchanged In Nov. 1907 for Tenn. Coal, Iron A
RR. com. stock.
Final $50,000.000 (of the authorized Issue of $250,000,000
2d 5s of 1903) Is applicable for exchange for preferred stock.
See V. 76,
bonds.
p. 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. Frtek Coke
Oo. 15,943 aores of coking lands and 1,408 acres of surface land, Ac., from
the Pittsburgh Coal and Monongahela Consol. Coal A Coke companies, pay¬
ment being made in $17,084,000 of an auth. Issue of $18,000,000 serial 5%
bonds, secured on the property and guaranteed, prln. ana Int., by the Steel
Corporation.
V. 92, p. 1570; V. 93, p. 474, 875, 1108: V. 94, p. 846.
Of the Illinois Steel debenture 4)48 of 1940 ($30,000,000 auth. Issue),
guar. p. A 1. by U.S.Steel Corp.. $6,900,000 were reserved to retire the de¬
bentures due April 1913. $6,928,000 for notes due 1912-1919 held by U. S
Steel Corp and $1,558,000 for 75% of the cost of additions and betterments
$18,500,000 were outstanding Dec. 1919:
Any mtge. must equally se¬
cure them.
See Y. 93, p. 289: V .94. p. 980. 1191; V. 98. p. 1099.
Of the Indiana Steel Co. 1st 5s, guar. p. A i. ($40,000,000 auth. Issue),
covering the Gary (Ind.) plant, $18,035,000 have been sold, the remaining
$21,905,000 being Issuable on new construction from Jan. 1912 at 75% of
cost.
Sinking fund annually, beginning May 1910. 1% of bonds Issued to
May 1 1922 and thereafter IX% plus int. on bonds retired.
At Dec. 31
1919 $804,000 had been retired through the sinking fund, leaving $17,231,000 outstanding. V. 98. p. 1699; V. 100. p. 2171; V. 101, p. 60.
Of The National Tube Co. 1st guar. 5s (not the old co., but the later one,
organized to build the Lorain, Ohio, plant), the unissued $5,000,000 aie
reserved for 75% of the oost of new construction.
Ann. sink, fd , begin¬
ning May 1916, 1% of bonds issued, plus int. on bonds retired.
At Dec.
31 1919 $442,000 had been retired through the sinking fund, leaving $9,558,000 outstanding.—V. 94, p. 986, 1769.
Additional Bonds of Controlled Cos.—
Interest.
Conn. Coke
,V. 85, p. 1406)..z5 F. A A.
Host.
Dewees
(W.)
Wood
Co.
1st
M
J., red. I05_xf5
Oahaba Goal Mln. Oo. 1st M
Alab. Steel A
Shipbldg. 1st M
Sharon Ooke Oo 1st M
Matun ty.
3223,000
Feb. 1 1942
1.4'X).000
May "21-30
duet
$100,000 yearly beginning 1915. _x/5
Schoen Steel Wheel Co. 1st M. g. gu. by!
Carnegie Steel Co. of N.
Outstanding.
6 J
0 J
...5 J
M. A N.
g
M.AS.
A
D
A
J
A
D
490,000
Mch.l
213.000 Dec. 1
730,000 Jan. 1
71,000 Dec. 2
1926
1922
1930
1931
December
On
1909.
1910.
1911.
1912.
2,6
5,0
7,9
5,09
omitted)—(V. 108, p. 1516.)
Apr 30
31
1915.
1913. 1914.
4,2
7,8
3,8
1916. 1917. 1918. 1919. 1920.
11,5
9,4
7,4
8,2 10,3
REPORT.—For cal. year 1919 in full in V. 110, p. 1284, 1298.
Income Account for Quarters ending March 31.
Net
$56,961,4241113,121.018
$42,089,019 $33,513,384
earnings
Deduct—
V
For sinking fund, deprec.
and
reserve
212,100
Total deductions.....$16,057,234
238,250
$16,032,368 $14,021,147 $15,376,262
$42,940,277 $97,744,756
6.304,919
6,304,919
21.602,856 21,602,856
154 & 3 ext. lM&3ext.
Balance
...$26,031,785 $17,481,016
preferred (1%%)
6,304,919
6,304,919
Div. on common.......
6,353,781
6,353,781
Common div. rate
114%
IX %
Div.
9,790,824
5,360,823
224,615
8,511,607
5,271,290
10,638,955
5,177,798
215,615
10,765,318
5,079,816
funds
Interest
Prem. on bonds redeem.
on
$15,032,502 $69,836,981
bonds outstand ng.
1917.
1916.
Calendar Years—
$
$
War, Ac., tax, estimated 52,000,000 274,277,835 233,465,435
—
Net after said taxes
152,290.639 208,281,104 304,161.471 342,907,092
Balance, surplus
.$13,373,085
$4,822,316
*
After deducting interest on subsidiary cos.'
1918.
$
1919.
$
Deduct—
Int.
on
.
_
8,930,424
8.869,291
9,422,914
funds._
45,545,926
20,509,321
933,451
40,718,823
20,891,116
837,816
50,553,272
21.256,303
bonds redeem.
39,547,612
21,602,853
1,016,951
co.
bonds...
reserve
Interest
Prem,
For
on
plants, Ac
adjustments
863,848
55,000,000
new
Add
Amortiz.
'
8,701,577
sub.
Sinking funds, deprecia¬
tion &
yards—Number of vessels
I).
1918.
28,332,939
31,748,135
17,757,636
5,141,365
mine
Coal mined
p.
Oct
do
Pittsburgh Trust Co.PItte
Office, Empire Bldg. N Y
June 1 1969
5
Bldg. N Y
Colonial Tr, Pitts ANT
Union Trust Co, Plttsb
May 1 1941
434
5
1912
Monongahela Southern first mortgage guaranteed
Oonnellsvllle A Monongahela RR 1st M-.
5 e
5
460,000
1,200.000
1910
Mifflin Equip Trust, due $120,000 yrly
Munball Equip Trust due $75,000 yrly
Office Empire
do
May 1 1952
May 1 1952
Aug 1620-39
To Jan 1 1925
Feb 1 1932
5 t
5 g
5 Z
9,558,000
The Nat Tube 1st M $ 15,000,OOOggru red lO5Deg*10N.xc* Ar*
Ind St 1st M $40,000,000 g gu red 105 beg Nov *10 .„xc*Ar*
z
and
Payable
June29 '20 IX Office EmpirBldg,
N i
do
edo
May,29 '20 IX
P Morgan A Co, N ir
Apr 1 1951
do
do
do
Apr 1 1951
do
do
MAN Apr 1 1963
Office Empire Bldg
N T
A
A
O Apr 1 1940
Union
Duquesne equipment trust due
are
Various
5 g
/
and
war
Cr. 194,219
Cr.629,453 Cr. 1,600,808
12.215,000
Cr.124,969
25,219,677
25,415,125
(5%)
25,219,677
71,162,350
(14%)
25.219,677
86,411,425
(17%)
25,219",677
facilities..
Preferred divs.
(7%)
Common dividends
Per cent
(Extra common dividend
(Red Cross), 1%
44.476.468
(85*%)
5,083,025
—-1 —
Balance, surplus
26,159,780 28,935,350 52,505,438 201,835,585
Note.—The net earnings are in all cases reported by the company after
deducting "all expenses incident to operations, comprising
ary repairs and maintenance of plants."
DIRECTORS.—The directors are as follows:
To
To
To April 1922.
April 1921.
those for ordin¬
April 1923.
8amuel Mather,
J. P. Morgan,
Daniel G. Reid,
James A. Farrell.
Thomas Morrison,
Richard V.Lindabury, Elbert H. Gary (Oh'm'n),
John S. Phipps,
Percival Roberts Jr
George F. Baker,
William J, Filbert.
Thomas Murray
George W. Perkins.
OFFICERS.—Chairman
Elbert H. Gary; Pres.. James A.
Farrell.
V.-Prests.. D. G. Kerr and S. B. Sheldon; Sec. andTreas.. Richard Trimble,
Robert Winsor,
James
11.
Reed,
Compt.. W. J. Filbert
Office, 71 Bway.,
1298, 1533, 1846, 1858, 1979.)
N. Y.—(V. 110, p. 1195, 1284,
UNITED STATES WORSTED CO.—(V. 110, p.
1755,2200.)
568. 772, 1533, 1650,
.
UTAH COPPER
CO.—ORGANIZATION.—Tnoorp. In N.J. Apr. 30 1904.
sides of Bingham Canyon, Utah, a mlii-slte
Owns about 740 acres on both
of about 1,189 aores at Copperton, Bingham Canyon, a mill-site near Garfield
of about 7,288 acres:
685 aores in Utah County, mills, power plants, Ac.
stock (par $5) of the Nevada Consol.,
A GarfWd Rv
s»nck
Dec 31 lvl9 $16,244,900 (par
$10), of which about $6,165,040 was owned by Kennecott Copper Corp.
in Dec. 1919. V. 106, p. 1904. Tax 1 tigation. Y
108, p. 8519.
1920.
1909.
1910-1914. 1915
'16
'I?
'1H.
DIVIDENDS.
20
30 yearly
42H
70
140 100 60 15.-,-,Reg. since 1908..%
also $5,002,500 of the $9,997,285
all of the $7,500,000 Bingham
and
STOCK.—Stock auth., $25,000,000; out
Extra
x
%
xl5
50
....
Includes 5% paid In July 1917 for
Red Cross distribution.
April..
9,313,227
-
36,113,218
Four months
Dividends
9,420,000
38,621,000
1918.
$3,810,664
4,061,225
sur$433,854df$l,955,411 def$250,561
Balance, surplus or deficit
REPORT.—For calendar year
Year—
1919.
$481,324
2,436,735
1920.
$2,870,589
2,436,735
Quarters ending March 31—
profits
paid
Total net
Calendar
1919.
1920.
PRODUCTION (pounds)—
Net
Other
1919:
Deprec'n
Dividends
Profits.
Income.
Reserve.
Paid.
Balance,
Sur. or
Def.
$
*(60)9,746,940 def. i,494,545
4,689,872 3,562,523
*(100)16,244,900 sur. 2,700,881
1918
13,807,303 5,138,478
(145)23,555.105 sur. 5,140.391
1917
23.910.777 6,074.348 1.289.630
*
Includes 48% ($7,797,552) capital distribution in 1919, against 22X%
($3,655,102) in 1918 and 17H% ($2,842,857) in 1917.
Profit and loss
surplus Dec. 31 1919, $48,999,864.
Pres., C. M. MacNeill, N. Y.; Treas., J. M. Hayes, Salt Lake City.
N. Y. office, 25 Broad 8t.—(V. 110, p. 86, 270, 474, 877, 1195, 1755,
1858, 2083.)
%
%
%
$
1919
UTAH
POWER & LIGHT CO.—See "Electric Ry.
below.—(V. 110, p. 79,2200.)
Supplement" and
Utah Securities Corp.
CORPORATION.—ORGANIZATION.—Incor¬
porated in Va. in 1912. Charter perpetual. Strictly an investment co., doing
no operating, but controlling the Utah Power A Light Co. (see V. 105, p.
608; also "Elec. Ry." Sec ), owning all its outstanding 2d pref. and com,
A full statement was in V. 100, p. 1929-32
stock, except directors' shares.
UTAH SECURITIES
and condensed data, V. 100, p. 1828-29; V. 107, p.
1479.
Voting Trust for Stock of Utah Securities Corporation.—Stock auth.. $35,000,000; outstanding, $30,776,100. all held In a voting trust terminating
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
depositary.
Bankers Trust Co., registrar.
Trust Co., of N. Y.,
Note Issue, &c.—The 10-year 6% gold notes of 1912, due Sept. 15 1922
(but red. on any int. day at 101 and int.) are secured by pledge of all 2d
pref. and com. stock, except directors' shares and most or the short time
Dale
Par
Amount
Bate
When
Bonds
MISCELLANEOUS COMPANIES
\For abbreviations, &c., see notes on first page]
Value
Outstanding
%
Payable
United States Steel Corporation (Concluded)—
Auier SS 1st M g gu p
9c icall 105 s f(V 74. p
pur money M gu
H O Frick Co Pltta-Mon
yearly
_
Bess 9c Lake Erie RR.
Pittsburgh
1146)_IC.S0&r
due $600,000
._-UPi.xo*
Bess ALE and Duluth
Utah Copper Co—Stock authorized $25.000.000
Utah Power & Light Co—See Utah Securities
1911
Mlssab
G
Equitable Gas & Electric Co ol Utlca first
mortgage_Ce.xc*
Utlca Electric Light & Power 1st M s f 1% y early __Eq.xo*
Herkimer Light & Power first mortgage gold red 110-N.xc*
U G 4 El Ref & Ext M $5,000,000 gold —
x
Vacuum Oil Co—Stook, $15.000.000
Vanadium Corp of Amer—Stock auth
e
MAN Nov 1 1920
5g
J
Nort
&
$15,000.000---N.xc»&r*
5-year gold notes $1,500,000 auth
xxx
1965
those
30,775.100
2,000.000 10inl919
A
&
J
A
J Jan
J
A
J
J
A
J July 1 1957
j> *
5 e
100
1908
1.000
1914
1.000 &c
1899
1.000
1898
1,000
163.000
100
Guaranty Trust Oo.NI
Cent Union Tr Go, N
New York Trust Go
1 1950
July 1 1930
Gent Union Tr Go,
5% Checks mailed
*
I
T
1919 M&N 31 May 29 *20
Apr 15'20 $1 50
15.000.000 8%
See text
See text
Q-J 15
text
27,984.400 6% 1919 See
21 396,790 8 In 1919
Quar
J
A
D
11.700.000
I s
A AO 15
2.874,345
A
&
O
7
425.000
9,073,600 See text Various
MAS
3.599.000
100
Sept 15 1922
Oct 1919 2K% Go's office, Utlca. N Y
O Apr 1 1942
Cent Union Tr Go, N i
5
4,610,000
100
None
Quar
5
1.000,000
803,000
390,000
1,000
1,000
1,000
1.000
1902
1900
1900
1907
M 8c S15
6 g
8.272,000
&c
500
1912
See
text
Apr 15,1920 2%
Dec
Checks mailed
do
1
Gent Union Tr Go, N
New York
do
do
1 1923
T
5,000,000
1,200,000
8
100
100
Virginian Power Co—Common stock $5,000,000 auth——
Preferred $5,000,000 authorized
-—
First & Coll Tr M call 105 &lnt.
oe
Illinois Tr & Sav Bk, Chlo
J July 1920-1944
Union Trust Co, Plttsb
oompan) es under RRs— For other bonds see text
Mar 31 20 15% Checks mailed
Q—M
&
16.244.900 See text,
Electric Ra llway Sec Won"
and
500,000 shares
Virginia-Carolina Chemical—Stk com $38,000,000 auth—Col
Preferred (a & d) 8% cum $30,000,000 auth
Col
1st M (& coll tr) $15,000,000 auth sub to call text_Ce.xxc&r*
Sink fd debentures $10,000,000 g conv red text-Eq.yc»&r»
Consumers Chem Corp pf stk (p&d) 7% cum gu s r red 110
Virginia iron. Coal & Coke—Stock $10,000,000 authorized—
Mortgage gold $10,000,000
—-------—Ba.xo*
Garter Coal & Iron 1st M s f call 105
1
N.yy
tiy—8
tiern
Where Inter es and
Dividends are Payable
Places
Maturity
65
100
(Jtica Gas & Electric Co—Common stock
and
$471,000
10
ctfs) —
Last Dividend
1,000 al4 728.000
$1,000
1900
below
Corporation
Utah Securities Corp—Stock auth $35,000,000 (v t
Ten-yr gold notes red 101 see text-Securities of controlled operating cos—See text.
a
237
INDUSTRIAL STOCKS AND BONDS
Mat, 1920.]
100
4.434.000
1,300,000
1,000
1912
1919
May 15 1924
Apr 1 1933
Jan 251920,3% Checks mailed
Mch
1
Bk of Manhattan
I94y
Co, NT
A
&
O Oct
1 1938
N Y Trust Oo.NY
J
5 g
A
D Dec
1 1942
New
York and London
N Y, A B Leach & Co
M
7g
&
S Mar 1 1924
Of this amount $122,000 deposited in escrow.
debt of Utah Power & Light Go.
subscribers and In part paymeat
Authorized notes, $30,000,000.
Total to
for San Juan Water & Power Go. ($290,-
000), $27,790,000, less retired, $19,518,000: balance outstanding
1919, $8,272,000.
V. 101, p. 1556, 1812; V. 102, p. 159.
eliminated, of all
EARNINGS.—From operation, intercompany charges
properties now controlled:
Calendar Years (All Properties)—
Gross earnings—
Net earnings
1916.
1917.
$6,586,592
3,498,366
1918.
$6,993,227
3,750,185
Sept. 1
$5,583,396
3.095,022
1917 shows:
REPORT.—For year ending Dec. 31
earns, of the corp., incl. surp. of
$906,080
$912,726
$1,031,476
$751,012
495,320
$754,176
471,666
$997,193
543,070
$254,692
accruing to it
Net earns, (adding in 1916 profit on
redemp. of Corp .notes, $111,746)
Interest charges on 10-year 6% notes.cos.
DIVS.— ( '04-'08. '09.
*10. '11. '12. '13.'14. '15. '16 '17.
'18. *19.
None
3
2hi
4
3
lhi 0
0
0
3 —See text—
2,2,Pref—(%)(Full to July'14. incl. (Q.-J.): Nov.'14.2%. 4&4 sc. 8
In Feb. and again May 1 1918 paid % of 1% on common stock; Aug 1.
1918 paid 1% and in Oct. an extra of 2% In 4hi% U. S. Liberty Loan
bonds; Nov. 1 1918 to Jan.. d 1920, inch, paid 1% quarterly and in Oct. 2%
Com —(%)
extra In cash.
V.
BONDS.—The
Gross
sub.
STOCK.—See V. 93, p. 233,294; V. 77. p. 355,405; V. 78, p. 1503.1970.
on May 12 1914 authorized an increase in the stock to
$30,000,000. to provide for conversion of debentures.
V. 98. p. 1248.
The stockholders
$272,510
$454,123
108, p. 2638.
1st M.
5s
were
limited to $15,000,000, of which $3,-
300,000 have been paid and canceled.
They are subject to call as a whole
at 105 and $300,000 yearly for the sinking fund at 102 hi.
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
Mining 9c Mfg. Co. ($2,219,200), a controlling In¬
of the Charleston (8. C.)
In the Einlgkelt (potash) Co. and the
Ltd. (costing more than $3,000,000). and all
terest
surplus
Balance,
OFFICERS.—Pres., 8. Z. Mitchell; Treas., A. E. Smith; Sec.,
Summerson.
N. Y. office, 71 Broadway.—(V. 107, p. 1479, 2104,
UTICA GAS & ELECTRIC CO.—(V. 110, p.
E. P.
2195.)
1533.)
VACUUM OIL CO.—Incorporated in 1866 under laws of N. Y. State
Formerly a subsidiary of the Standard Oil Go.
charter extended till 1964.
of N. J., but was
segregated with others in 1911.
PROPERTIES.—Operates refineries at Olean,
N. Y., and Paulsboro,
N. Y.t for the manu¬
products from crude
N. J., and plants at Bayonne, N. J., and Rochester,
facture of high-grade lubricating oils and
related
petroleum.
At Paulsboro owns a tract of 675 acres fronting on the Dela¬
ware River, with dockage for ocean-going vessels.
Does a large export
business, operating tank and cargo steamships aud marketing its products
In foreign countries through its own branches or locally incorporated com¬
panies.
Many of these latter also operate refineries or plants ror the manu¬
facture of lubricaclng products.
STOCK
CAPITAL
$15,000,000,
is
150,000 shares of $100 each.
1912 to $15,000,000.
in
Chemical Works Schonebeok
other stocks owned at time of
making mtge.
V. 87. p. 1361, 1092; V. 94. p. 771, 922.
Of the $10,000,000 10-year 6% debentures authorized May 12 1914.
$5,000,000 were underwritten and offered to stockholders at par.
The re¬
maining $5,000,000 are not to be Issued for 2 years at least.
Tne $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
1922 into pref. stock at the rate of $110 debs, for $100 stock.
The remain¬
ing debentures may be made convertible at the same or a higher rate; 2 hi %
will be retired annually.
V. 98, p. 1172, 1321. 1541; V. 99, p. 54. 204;
V. 104, p. 368. Bills payable May 31 1919, $17,317,500, and acc'ts payable
$5,785,150, against bills and acc'ts receivable $31,961,182: Inventories,
$18,594,077; cash. $7,202,091; misc. Invest.. $192,949; Liberty bonds,
$1,277,090.
1919 In V. 109, p. 474.
1917-18.
1916-17.
REPORT for year ending May 31
1918-19.
Net
profits
1915-16.
$8,502,416
$5,905,250
$7,732,798
$5,427,467
240,380
$5,905,250
$1,248,863
1,600,976
1,600,944
(3)839,532(1^)419,766
$5,667,847
$1,160,298
1,600,472
$2,635,677
$2,907,067
$16,213,592 $16,832,942
$8,933,335 $10,193,268-
Total net profits
Other income
Formerly $25,000; Increased In 1903 to $2,500,000,
DIVIDENDS.—f 1912.
19111
j 6
Since
[
'13.
6
'16.
6
*14. '15.
66
1919. 1920.
6
See
'17. '18.
66
2
2
4
2
text
In 1919 dividends were made payable on the last business days of May
and Nov., instead of May 15 and Oct. 31.
Paid in May 1919, 3% and 2
extra; Nov., 3%, no extra; in May 1920, 3% and 2% extra.
Extra
2
__
EARNINGS.—Balance sheet of Dec. 31
1918 wasi n V. 109, p. 1228.
in V. 106, p. 2121.
The report for 1917 was
Year—
Earnings.
%
Divid'ds. %
.
.
Tot.
.
23
Surplus.
%
$14,675,276
23,988,607
32,010,543
40,134,940
43,546,791
%
18
38
53
54
98
160
213
267
290
O. E. Bed¬
offering.—V. 108, p. 1516,1615
OF AMERICA.—ORGANIZATION.—Organized
of a mining
under laws of Delaware Sept. 8 1919 to carry on the business
and trading corporation in all its branches in any part of the
world.
Ac¬
quired from the American Vanadium Co., a New Jersey corporation, all of
tne latter's ore lands and other physical properties situated at MinaRagra,
Peru, its reduction and smelting plant and 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 high speed tools and fine
cutlery.
It is also extensively used in the manufacture of aucomobiles and
armor and as an alloy in all steel requiring a high tensile strength.
Recent
p.
acquisitions, V. 110, p. 174.
To build railroad in Peru, V. 110,
1438.
shares (increased from 300,000
value.
280,000
purchase of the
1920), outstanding 373,334 shares, no par
shares of stock were sold for cash to provide funds for the
properties described above andSto
provide working capital.
stockholders at $45 per share.
93.334 shares to
In Jan. 1920
V. 110, p. 174.
Initial div. of $1 50 paid April 15 1920.
BONDS.—The company has no
bonded debt.
EARNINGS.—Income account covering
period from Sept. 16 1919 to
Total sales, $1,383,988; net oper. profit, $650,266;
$11,409; total income, $661,675.
OFFICERS.—Pres., J. Leonard Repiogle; V.-P., Merrill G. Baker;
Jan. 21 1920 as follows:
other income,
Treas., L. K. Diffenderfer; Sec.,
DIRECTORS.—J.
Leonard
E. F. Nickerson.
Repiogle,
Chas.
M.
Schwab,
Jos.
De
Wyckoff, E. R. Tinker, Allan A. Ryan, Harry Payne Whitney, T. Coleman
Du Pont, Chas. M. MacNeilJ, Edw. F. Nickerson, Chas. M. Walton, Jr.,
New York;
Ledyard Cogswell, Albany, N. Y.; F. K. Sheesly, Johnstown, Pa.
Broadway, New York.—(V. 110, p. 474,1195, 1438.)
Main office, 120
VAN
RAALTE CO.,
INC.—(V. 110, p. 270, 1858.)j
VIRGINIA-CAROLINA CHEMICAL CO.—ORGANIZATION.—Incor¬
porated on Sept. 12 1895 and acquired many successful manufactories of
acids, chemlcais 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. 444. 1186, 1191, 1285; V. 73. p. 137, 240: V. 74. p. 942. 1095; V. 75. p.
81, 140, 496; V. 87, p. 283; V. 97, p. 663.
Govt, license, V. 106, p. 880
Owns entire common stock of Consumers Chemical Corporation, which
has erected a modern fertilizing plant at Carteret, N. J., on Staten Island
Sound and guarantees by endorsement the 7 % dividends on the pref. stock
($425,000 May 31 1919) and the cancellation of $12,500 thereof annually
(callable at 110 and div.) and the remainder on April 1 1933 or the entire
amount at 110 on dissolution.
V. 96. p. 1428; V. 97. p. 663
$5,944,161
$3,382,027
(Pres.), E. B. Addison (1st V.-Pres.),
(V.-Pres. & Sec.), of Richmond, Va.; N. 8. Meldrum,
Henry Walters, Harry Bronner, Bertram Cutler, Alex. J. Hemphill, Alvin
W. Krech, C. I. Stralem, New York; Geo. W. Watts, Durham, N. C.;
S. H. Miller, New York.
S. W. Travers is Treas., Richmond, Va.—(V.
106, p. 404, 714,1229; V. 107, p. 498,1009; V. 108, p. 2638; V. 109, p. 474.
1086, 2083.)
DIRECTORS.—C.
D.
G.
Wilson
Crenshaw
VIRGINIA IRON, COAL & COKE CO.—ORGANIZATION.—Owns
Pulaski, Radford, Max Meadows and Foster Fails,
Middlesborough, Ky.; certain foundry and machine works.
Also
owns
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.
Stock authorized, $10,000,000, all common; outstanding, $9,073,600; par
$100.
On Oct. 1 1907 paid a 5% stock div.
An initial cash dividend of
6% was paid Dec. 6 1918; July 1919 and Jan. 1920 paid 3%.
V. 108,
p. 2248.
Readjusted per plan V. 75, p. 348, 398, 736.
Of the 1st 5s, $6,107,000
have been cancelod; the unissued bonds are held to retire prior lien bonds,
viz.: $186,000 Carter Coal & Iron s. f. gold 5s (U. 8. and Va.tax- free) due
Oct. 1 1938, subject to call at 105 (N. Y. Trust Co., trustee).
LATEST EARNINGS.—For 3 mouths
ended March 31 1920:
Gross,
$727,531; net, $564,963.
REPORT.—For 1919, in V. 110, p. 1195,
Calendar
1919.
Gross earnings
Total
receipts
——
Interest
Dividends
Balance, surplus
CAPITAL STOCK.—Authorized 500,000
shares in Jan.
offered
Balance, surplus
1,604,165
1,679,064
furnaces at Roanoke,
OFFICERS.—Pres., Edward Prizer; V.-Ps., G. P. Whaley,
VANADIUM CORP.
bonds, &c
Va.;
ford; Sec., W. M. Smith; Asst. See's, O. E. Arnott, H. Baker; Trea3., Her¬
bert Baker.
Main office and transfer office, 61 Broadway. N. Y. City.
—(V. 107, p. 1389; V. 108, p. 1615; V. 109, p. 586, 1280, 1373, 1615.)
VALVOLINE OIL CO.—See pref. stock
on
Pref. stock div. (8%)...
Common dividends..(6%)
S.
j
Surplus.
$900,000 6
$2,694,163
$3,594,163 24
1.200,000 8
5,661,913
6,861,913 46
1,200,000 8
8,021,936
9,221,936 61
1,200,000 8
8,124,396
1917*9.324,396 62
1918
14,911,851 33
1,500,000 10
3.411,851
♦After deducting 2,617,927 war taxes.
t After deducting $6,064,338 extraordinary losses.
1912
$8,933,335 $10,193,268
$2,268,079
$1,808,599
Gross income
Interest
1918.
$10,271,985 $13,038,072
$1,490,018
$1,835,593
414,689
815,402
544,416
544,416
$530,913
Pres., John B. Newton; V.-Pres.,
Cure.
showed:
Years
$475,776
June
30
1916-17.
$7,675,856
$1,653,944
629,580
Years
1915-16.
$4,308,598
$490,980
739,074
$1,024,364dof.$248,094
D. D. Hull, Jr.; Sec. & Treas., J. W.
Office. Roanoke, Va.—(V. 109, p. 2446; V.
110. p. 1195.)
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 tnat State.
The distributing system
at the end of 1919 consisted of 261 miles of 44,000 volt double and single
circuit and 204 miles of 2,300 volt circuit with 84 substations having
54,875 k.v.a. transformer capacity.
Electric power is important in coal
mining for cutting, hoisting, hauling, pumping and ventilating purposes.
The steam power station at Cabin Creek is a brick and steel structure
located on the Ches. & Ohio RR., 15 miles from Charleston.
Water-Power Sites.—Owns or controls three 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. Estimated
drainage area ranges from 4,400 sq. miles at Bluestone to 6,250 sq. miles
at Hawk's Nest.
Available power at Bluestone. 125,000 k.w.; Richmond
Falls. 15.000 k.w.: Hawk's Nest. 30.000 k.w.
Operations.—Began in 1914 with contracts to supply power to the largest
the Kanawha-New River District, among them the New River
Coke Co. and New River & Pocbhontas Consol. Coal
mines in
Co., Raleigh Coal &
Oo
*
"
The company also
lu Oli^rlostoii W
supplies power for the operation of
the street railways
Capital Stock—Auth., $10,000,000 (in $100 shares), one-half pref.
outstanding $1,200,000 pref. and $5,000,000 common.
Bonds.—Total 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, acquis!tions.&c «
under restrictions, $10,326,000.
\
[Vol. 110.
INDUSTRIAL STOCKS AND BONDS
288
Mt.Clare
Avon
Cairo.
wha Sta.
o
HARRISV1LLE
Alfred °
Belleville
'Reedsvillt
Auburn
Irma
Macfarlan:
POMEROY
WESTON
Skull Rl
Racine
Ravenswood
(Vinton
GLENVILLE
G R ANTS V ILL E
Spilmaji
•Burnsville
ALLIPOU^mpo|NT PLEASANT
iCottagevilie
Braxton
Ilend^on^^SxAmhroKio
Ripley
Geneva o
.Flatwoods
Loneoak
ittle Otter A
0;
Looneyville
Remoal
SUTTON
Grimm a
Stinso n
Landing
Crown City
Amma
Buffalo
Glenwood
Jumbo
'Mattie
Erbacon
W1NF1ELD
Brilliant.
WEBSTER SPRS.
CLAY
Lesage
Wilden
KINGTON
/
Hurricane
rx/f°ga
Camden-on-Gauley
«n
.charleston
Burdett
.Holcomb
-Richwood
frTER POWER SITE.
.Branchland
'
East
k
CABIN CREEKJCm
STEAM POWER
Lynn,»'
^GAULEYtBRiDGE
vL.
:
mJj} %*ANSTED
STAj?
\
Lattin
FAYETTE
FAYETT
E\|\\ j£t
Hominy Falls
\
._
_
lookout
VILLE
'AD1SON
°
Bingham
Ferrellsburg
Wilsendale
R»MON D
^HAYEB
Jpiagess
Bald Knob
x
Ethel
Oora^J
****** r
MACDONALD
LOGA
Arnett.
Springdale
til
Blue Sulphur
Meadow Creek
Helden
Sprs.
/LEW1SBURG
BECKLE Yi
Marshei
Richmond falls
Poplar
faugajuek
Coalmer
WA TER
Pluto
POWE&mE^
ll
V,
Am N ton
PEMBERTO
^
Alderson
Nickells
Jesse"
■m LLlAM
S^N
Ghent0
—0
Kate
Pineville
0
BLUE§TONEJQ.
PROPOSED POWER STATION
tullens-
Beech Creek
-OVar Eagle
Crimson Springs
Wenonah
HerndonX
/NDoteon
.Pride
WELCH
So*
^
Pawpaw 0/
.Matoa)
PRINCE'
ig Stone Jc.
Coalwood
Blackey
'ageton^
Elbert,
carisburg"
Freeman
Yukon*
Geedwins
Ferry
(erwind
GRUNDY1
Marvin
Whitewooa
RADFO
PROPERTIES OWNED AND FIELD OF OPERATIONS
PULASKI
THE VIRGINIAN POWER CO.
FLOYDo
CHARLESTON,
AREA SERVED STEAM
l"
/
WEST VIRGINIA
PLANT:-1500 SQ. MILES
LEGEND
Present Transmission System 1
Future Transmission
System
■■■■■■ ■■•■■■■«
Steam Power Station..,.,.
Proposed Power Stations
^
Water Power Sites
0
6
10
20
i
so Miles
Rustin
page]
Par
Value
stock
100
7% cum. auth $50,000,003
First mtge $15,000 000 g call beg 1912 at 105 —-MCjtc*
5-year Convert, g bonds call, text
c*
Western Power Corp, N Y—146,700 shrs common stock.
Pref stock $7,080,000 6% cum aft Jan 11915
Bonds—See Great Western Power Co statement.
NOTES.—As of Mar. 1
7,000,000 See
...
5,000,000 See
10
100
37,716
Balance.
$141,268
;sur.51,262
def.16,111
I^r^cotC'F^^^har'rJoh'n^LT
Inc.—ORGANIZATION.—Incorp.~in
VIVAUDOU,
Delaware
acquired the assets, trade-marks, &c., of V. VivaManufactures and distributes perfumes, talcum
powder, tooth paste and other toilet articles.
ODerates four plants in
New York City and one in Montreal.
about Sept. 1 1919 and
dou of N. Y. and Parts.
^DIVIDENDS.—Initial divTof 50 cent7a share was paid JarL2 1920;
same amount paid April 1 1920.
Pres., V. Vivaudou.—(V. 110, p. 1096,
i
_
VULCAN DETINNINQ CO?—olb^NIZATIOn".—Incorporared 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 scrap (used by steel mills) from tin plate waste.
V. 83, p. 42, 1234.
On Oct. 22 1913 the American Can Co. paid $617,000
In settlement of suit.
V. 95. p. 1487; V. 96. p. 1302; V. 97. p. 181.1120,
(
PLAN
a
stockholder;
OF SETTLEMENT.—The
voted"
plan of settlement which is embodied in an agreement
Feb. 18 1920"on
dated as of Jan.
19 1920, between (1) a majority of th ' directors of the company as stock¬
holders therein, (2) certain stockholders in the Republic Chemical Co.
and
(3) the Continental Can Co., Inc.
The following are the main features
of such plan:
(1) That the capital stock
f the company be increased from $3,500,000
to $5,646,v 00, by creating (a) a new class of 7% Cumulative Pref. stock "A*
$920,000, and (&) a new class of Common stock "A" $1,226,000.
There
will i e no difference between the rights of the holders of the present and
new Preferre i stocks or between the rights of the hoi iers of the present and
ne.v Common stocks, except 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 of the board of directors, and the holders of the
new stock will have the right to vote for and elect three and no more mem¬
bers of sue h board.
By vote of two-thirds in interest of each e lass of stock
all of the classes rt ay, however, be given full and equal voting rights before
the
expiration of such ten-year period.
dividend of $4.25 per share (4A%)
present Preferred stock on account of
which now aggregate 36
%.
(4) That for ten years the Continental Ca
Co., Inc., will sell the tin
scrap produced t y 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 the estate of Adolph Kern, as against vhich the
claims of the company are to be fully reserved.
i he tan. ible property of the Republic Company is approximately of the
same value as the similar property of the Vulcan Company.
The business
of the Republic Company, as represented by its supplies of tin plate scrap,
the dividend arrearages,
.
„
Vulcan Co.—V. 110, p. 270.
'09. *10. '11. *12.
1913.
5
6M 5H 7
Below
00
0
In 1913, Jan. and April. 1H %; July and Oct., none.
Accumulated pref.
dlvi. Oct. 1913, 24A%, on account of which 21% was paid Nov. 20 1913
from proceeds of suit against American Can Co. V. 95. P- 1478; V. 96. P«
1302; V. 97, p. 181, 1220.
None since to Jan. 1919.
In April, July and
Oct. 1919 and Jan. 1920 paid l%%, and 1% on accumulations.
V. 108, p.
88 >.
In April 1920 paia 1 4% and 4X% on account of accumulations,
reducing the amount of divs. in arrears to 32% .
V. 110, p. 1438.
is
approximately 30% greater than that of the
DIVS.—1*02. *03. '04. '05. '06. '07.'08.
Pref
% t3A 6 >4
0
5
7A
5 IX
Com
% J2
3
000
00
EARNINGS.—Report for 1919;
Yea
■
1919.
$1,437,969
1918.
$1,567,781
1917.
$1,309,629
c.—.—--
1,315,987
1,332,305
1,120,575
-
Expenses, depreciation,
121,982
149,157
Balance
Total
income
^io
—
Calendar
Sales
—
-
244,426
261,781
189,054
197,643
dividends
149,157
143,284
185,785
fG* OFFICERS.—Pres., W. J. Buttfieid; V.-P., Geo. F. Eldridge; Sec., O. E.
Outram; Treas., Gilbert N. Knight.
Office, Sewaren, N. J.—(V. 110, p.
Surplus available for
568. 772,
1438, 1650.
STOCK.—Pref. stock oannot be increased or mtge. authorized
consent of H of each class.
V. 84, p. 698; V. 90, p. 241.
Common....
'07. '08. *09. *10.
3
—-
Preferred
3
1A
(Full 6% p. a. (3% s-a.)
D?vs?°o n*com 7were
V.
2A
1906 to 1914.
f
resumed
*11-12
*13-14
1
None
1915.
5
1916
5
without
*15-*19, 1920.
0
text
1917.
6
1918-19.
6
with payment of 2A% on March 1 1920.
110, p. 369.
NOTES.—The $2,000,000 4)4%
serial notes sold In Feb. 1916 were
paid off Aug. 1 1919.
,,
In Aug. 1919 sold $3,000,000 5-year 6% notes.
While these
outstanding the company cannot mortgage its property.
V. 109,
J
do
Mar31 '20 $2.50 New
York
new
new
J
Phlla Prov L & Trust Co
D June 1 1930
&
Q-M
7
15,000.000
25,000,000
A
J
Deo
31 1922
Chicago and New York
NY, Bos & Chic
REPORT.—Statement for fiscal year ended
March 31 1919 in V. 108,
2526, V. 109, p. 586, shows: Earnings available for int. and taxes were
$1,250,000, while profit and loss surplus increased by $510,785 (to
$1,673,976).
On March 31 1919, notes payable (other than $255,000
secured by Liberty bonds), $3,495,000, contrasting with $2,895,500 March
31 1918, including the coupon note issue.
Pres., Ezra O. Fitch; Treas., Harry L. Brown, Waltham, Mass.—(V.
110, p. 369.)
p.
over
WASHINGTON OIL CO.—ORGANIZATION. &o.—Incorp. in 1887 In
Produces crude oil.
Owns 140 of 200 shares of Taylorstown Na¬
Formerly controlled by Standard Oil Co. of N. J., but segre¬
gated in 1911.
See Standard Oil Co. of N. J., V. 85, p. 216; V. 93, p. 1390.
Stock, $100,000; par. $10.
Dividends in 1906. about 35%; 1911, 29%
1913.
Feb. and Dec., 40%; 1914, Dec., 30%: 1915, nil: 1916, Oct.. 40%.
1917 and 1918, Dec. 40% each; Jan. 1920, 20%.
Year 1918, profits,
$44,728; dividends (40%), $40,000; sur., $4,728.
Total surplus Dec. 31
1918, $62,978.
Office, 323 Fourth Ave., Pittsburgh, Pa.—(V. 100, p.
817; V. 102, p. 891; V. 103, p. 1046; V. 104, p. 1505; V. 106, p. 606, 1143.)
Penna.
tural Gas Co.
WASHINGTON
POWER CO., SPOKANE.—See "Electric
1900, 2120, 2236; V. 105. p. 910;
WATER
Railway Section" and V. 104, p. 663,
V. 108, p. 1388, 2242; V. 109, p. 1274.)
WAYLAND OIL & GAS CO.—V.
110, p. 772, 1096, 1328.
WELLS FAROO &
CO. (EXPRESS).—Incorp. In Colorado Feb. 5
1866.
On June 301917 operated on 84,751 mile3 of railroad in the U. S. and
Mexico, 33,466 miles or stage, inland and ocean steamer routes; total,
118,218 miles.
Also, jointly with Nat. Rys. of Mexico, controls Wells,
Fargo & Co. S. A. (Sociedad Mexicana).
V. 91, p. 1451. Official cir¬
culars, V. 83. p.90.163.268. 434.
,
The loss
of their contracts
^
,
with the railroads because of Government
control and operation, and inability to effect an arrangement with the Rail¬
road Administration for continuing their individual operations culminated
in an enforced retirement from domestic express operations and the transfer
this company and the other leading express companies
business to the American Railway Express Co. on June
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.
V. 108,
p
2020, 2124.
See American Railways Express Co. above.
j
In a proclamation issued on Dec. 24 1919,
res. Wilson fixed March 1920
as the date for the termination of Government control of the express com¬
panies.
V. 109, p. 24 05.
DIVS.
f'95-'01. '02. '03-'05. *06. *07 to Jan. 14.
July 1914 to July 1918.
Cash %\6y'rly.
9 8 y'rly
9 10 (5 J. & J.)
6% (IA% Q—J 21J
Dividends were suspended in 1918 following the July distribution. V. 107,
p. 1292; V. 108, p. 85. 2020.
,
In Jan. 1917 an extra 33 1-3% was paid out of surplus.
V. 104, p. 78.
On Feb. 10 1910 an extra dividend of 300%
surplus, shareholders being allowed to use
$16,000,000 new stock. Increasing Issue to $24,
of the property of
used in the express
30 1918 at least for the duration
.
REPORT.—For year ending Dec.
Gross
Net Earns.
all
notes are
p. 586.
31 1918 In V. 108, p. 2020,
Other
Dividends,
Income.
Paid
^
,
Balance.
Surplus.
1918.
$34,115,902x$3,246,822 $1,070,739
(3%)$719,022x$2,895,105
1917
$59,795,849
$758,001
$866,851(6%)*$!,438,044 $186,808
1916
50,387!016 3,122.967 1,166,772 (8%)1,438.044 2,851,695
In 1917 also paid a special dividend of 33 1-3%; see above,
x Deficit.
In 1919 the company's income (derived from dividends, interest and
rentals received) was $894,565; expenses, &c., $506,485; bal.,sur., $388,081.
Dec. 31—
Year
Earnings.
Express.
*
—(V. 110, p. 86.)
WELLMAN-SEAVER-MORQAN CO.,
CLEVE.—(V. 110, p. 977.)
WELSBACH CO.—(V. 109, p. 2446; V. 110, p. 1195, 1438.
WESTERN ELECTRIC. CO., INC., N. Y. AND CHICAGO.—Incorp.
In N. Y. Nov. 17 1915 as successor of an 111. corp. (org. in 1881). Am. Tel.
& Tel. Co. owns 98% of the outstanding capital stock
V. 104, p. 78, 1053.
International West Elec. Co., Inc.
V. 107, p. 609; Western Elec. Co.,
Ltd., Canada, V. 107, p. 1292.
apparatus in the world and the
the United States."
CAPITAL STOCK.—The
increase in the Common
an
"The largest manufacturer of telephonic
largest distributor of electrical supplies in
stockholders voted Feb. 19 1920 to authorize
stock from 150,00
shares no par value to
500,000 shares no par value. €>f the new Common 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% cumulative preferred stock, par $100.
The $25,000,000 5-year 7% convertible bonds (sold in Mar. 1920 at
98A and int.) are convertible between Apr. 2 1922 and Oct. 1 1924 into
7% pref. stock, par for par.
They are callable, all or part, at 103 to Apr.
1 1922; 102 thereafter to Apr. 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. 1920 paid $2 50 quar.
Authorized bond issue, $15,000,000.
V. 90, p. 307; V. 91, p. 1578,1636.
REPORT for year
Gross sales..
ending Dec. 31 1919, in V.
$135,722,489 $145,226,000
5,652,089
6,150,849
110^. 1285, showed:
$150,340,359 $106,986,677
6,6t>l,o60
4,678,o76
1,309,844
880,094
2,500,000
1,473,866
Pref.dividends.._(6%)1,800,000
(6)l,350i000
(6)900,000
Com. dividends" ($10) 1,500,000 ($10)1.500,000 ($8) 1,200,000($8) 1,200,000
Net
WALTHAM WATCH CO.—ORGANIZATION.—Incorporated In Massa¬
1906 as successor, per plan of re-capitalizatlon in V. 82, p.
1042.
of
American
Waltham Watch Co.
Manufactures "Waltham"
watches at Waltham, Mass.; also clock*, speedometers and chronometers.
V. 76, p. 161; V. 82, p. 1042; V. 84, p. 630; V. 98, p. 1619.
Statement to
the Boston Stock Exchange in V. 108, p. 2526.
chusetts in May
DIVIDENDS.—
do
1 1920 2 A
1920
3%
„
(2) That the Republic Company be dissolved and that the Vulcan Com¬
shall acquire all of its assets, property and business, and pay therefor
as follows: (a) Such new 7% Cum. Pref. stock "A," $919,410; (6) such new
Common stock "A," $1,225,-00; (c) $9,193 in cash upon transfer of the
assets; (d) $39,073 payable in cash when the proposed payment of 4A%
hereinafter referred to shall be made; and (e) .1-294,192 payable in cash in
installments without interest from time to time when 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
then made as 38 bears to 62.
* 4
pany
(3) That upon such acquisition s
shall be declared and paid upon the
D June
&
n
*
A
&
O April 1 1925
7 g
100 &c
None I46.615shrs
100
7,079.882 See text Q-J 15 Apr 15 1920 1A
1920
$307,200
262,340
230,938
-
6
$10
See text
100
1.000
1909
Interest.
Oth. Inc.
^DIRECTORS7^\P7*G.""Goisfer, '
1983, 2200.)
Cheeks mailed
A Aug 1 1924
NY,NatOBk;Bos,lstNat
g
text Jan 30'20 20% Pittsburgh, Pa
text See
July 1 '18
IA Office 51 Broadway, N Y
Q-J
F
5 g
2,137,700
100 &c
None 350,000shrs
1900
an issue of $1,500,000 of 7% 5-year gold
authorized, of which $1,300,000 have been
Vy'••■V'.v
V'-'-
$448,468
313,601
211,111
$952,720
804,716
577,761
„
J Mar
ft,
text
3,000,000
100,000 See
23.967,400
100
Dickinson, William O. Abney, T. F. Wickia n and W. E. Flucher; P. G.
Gossler, Pres.; H. G. Scott and T. F. Wick lam, V.-P, ; J. J. Thames, Jr.,
Sec. & Treas.
N. Y. Office, 62 Cedar St.—(V. 109, p. 1280.)
(V.)
50c
See text
&
text
100
1,000
1919
1919
1 1924, was
;".,v •
^REPORT.—For calender years:
Cal. Year—
Gross.
Net.
1919
Apr 1 1920
—
Pref.
1918
1917_.
Q—J
Q—J
Where Interest and
Dividends are Payable
Class A—See text
Preferred stock Class A, 7% cumulative—See text
Waltham Watch—Common stock $7,000,000 authorized
Preferred (a & d) 6% cumulative $5,000,000
—
Five-year gold notes call 102
xxx.c*
Washington Oil Co—Stock
Wells. Fargo & Co—Stock
West Penn Power Co.—See "Electric Railway Section
Welsbach Co—Collateral trust mtge gold $7,000,000 8 f — PIP
Western Elec Co Inc (Mfg)—Com stk 500.000 shs no par_.
notes, due Mar.
issued.
N
Text
300,00 sh.
2,000,000
1,500,000 See text
100
Places
Last Dividend
and Maturity
When
Payable
%
Outstanding
None
(V) Vivaudou—Stock 300,000 shares
Detinning Co—Common stock
Preferred stock (a & d) 7% cumulative
Vulcan
*
Rate
Amount
Date
Bonds
MISCELLANEOUS COMPANIES
[For abbreviations, &c., see notes on first
Common
239
INDUSTRIAL STOCKS AND BONDS
Mat, 1920.1
earnings
Interest
...
paid
Res., conting., &c__
1
Balance, surplus.
•
Includes 3 quar.
1,263,180
-
$1,088,909
1,540,528
1,100,000
(6)1,800,000
$210.3211C
S301716
$224,610
$15,000,000 old capital stock
divs. of 2% each on the
$15,000,000 6% cum. pref.
(all of one class), a div. of 0.73% on the new
atock covering a period from Nov. 17 1915 to Dec. 31 1915.
See V. 90, p. 307.
Chairman of Board, H. B. Thayer; Pres.,
Du Bois; Treas., J. W. Johnston; Sec., G. C. Pratt.
N. Y.
Charles G.
office, 195
1322, 1328.)
WEST PENN POWER CO.—See "EI. Ry. Section" and V. 107, p.
229672482; V.108. p. 1171. 1827. 2029. 2248; V. 109, p. 1899, 2446.
WESTERN POWER CORP. OF N. Y.—ORGANIZATION.—Incorp.
In N. Y. June 5 1915 as successor to a New Jersey company of similar name
A holding company controlling the following: Great Western Power CJo
(which see above); Great Western Power Oo. of OaL, California Generating
B'way.—(V. 110, p. 1096, 1285,
Co., City Elec. Co..
Consolidated Elec. Oo. and Western Power Co. of
N.J.
Date
Par
Amount
Rate
When
Value
Outstanding
%
Payable
Western States Gas St EI (of Dela)—Com stock
Pref stock $10,000,000 7% cum red 115 & divs
and Maturity
xxxUSc*
1918
Unsecured 6% notes $5,000,000 g call see text_axxc*&*
Western Telep St Telex—See Amer Tel A Tel Co.
Western Transit Co— Bond* guar by N V C est in 1903
t
Western Union Telegraph Co—Stock $100,000,000 auth.—
1917
Five year
7
~Q—J15~
4,464.500
J
1,000
1,000
100 Ac
275.000
5 g
5
$100
1911
1903
fd.xxc*
collat notes $1,500,000 call (text)
690,000
1,564,000
1.00(1
.Ba.zo"
1888
1,000
Funding and real estate mtge $20,000,000 gold—F.zc&i
Mutual union Telegraph Co 1st M ext gu p & 1 ext 191 l.s
1900
Collateral
trust
Teleeranh
Northwestern
J..
bonds
Co
100
1.000
Ac
500
100
Pref (a A d) Stock 8% cum s f
7%
Bds
call 115 $5,000.000
$10,000,000 auth
Gxxxxc*&r*
1919
500 Ac
No bonds.
STOOK.—As shown in table (on Dec. 31 1919).
April 15 1916 to
V. 109,
lA% quar.
DIVIDENDS.—Paid on pref. shares
1%
quar.
July 15 1919, inclusive; Oct. 15 1919 to Apr. 15 1920, 1
1280.
COMBINED EARNINGS.—For cai. years:
Gross
Net, after
Year— Earnings.
,Interest, <fe West P 4% Balance,
Guar. Divs. Pref.Divs. Surplus.
$353,672 $508,518
277,085
566,610
276,840
377,363
Other
Income
Taxes.
1919
.$5,172,877 $2,660,816
1918
2,700,901
4,644,407
1917— 4,008,553
2,475,279
$53,436 $1,852,061
def 44,719
1.806,428
defll3,286
1,707,790
OFFICERS.—Pres., F. Lothrop Ames, Boston; V.-Pres. & 8ec.,H. P.
Wilson, N. Y.; V.-P., W. H. Spaulding, San Fran.; Treas. AAsst.Sec.,
N. Y. office, 50 Broad St. See Great Western
109, p. 1280, 2446.)
Frank M. Tompkins.
Power Co. above.—(V.
WESTERN STATES GAS & ELECTRIC CO.—A consolidation operat¬
ing in Humboldt, San Joaquin. Contra Costa and adjacent counties in Cali¬
Installed capacity,
fornia.
18,800 h. p., incl. hydro-electric, 11,200 h p.
5,60(5 h.p.
Also manufactures and dfs.
V. 105, p. 723.
Rates V.107, p.1389
and steam-operated power plants,
tributes gas in Stockton and Eureka.
#
CONTROL.—Controlled by Standard Gas A Electric Co., through own¬
ership of a majority of the stock of Western States Gas A Electric Co
of Delaware, which, In turn, owns $2,125,000 of the preferred and all except
qualifying directors' shares of the common stock of the California Co.
Standard Gas A Electric Co. is, in turn, controlled and operated by H. M.
Byllesby & Co. of Chicago.
V. 100, p. 817.
In Apr. 1920 was authorized
to issue an additional
$603,000 preferred stock.
BONDS.—First & Refunding M. 5% Bonds.—Authorized, $10,000,000,
issued except when the annual net earnings are twice
bonds outstanding and contemplated, and then only for
the interest on all
75% of the cost of
extensions, and improvements.
Semi-annual sinking fund till June 1919,
1% of bonds Issued, thereafter 1X % ■
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;
ing notes may be issued only when net earnings, after interest on all prior
liens, are three times the annual interest charges on (a) all notes, including
those applied for; (5) on floating debt; Interest on obligations to be paid by
proceeds not to be considered.
V. 104, p.'263,'1270, 1505, 1597.
The $690,000 5-year 6H% Coll. Trust notes, dated Aug. 1 1918 (of a
total of $1,500,000) are secured by pledge of $959,000 of First A Refunding
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 100H.
V. 107. p. 1009.
Gross
1919
Net After
Taxes.
$1,901,303
1,628,996
1,402,870
-
1918
1917..
$782,900
643,594
625,235
Divs.
Charges.
$356",774
$1881810
~$98~6I5
325,012
218,846
8,137,476
Dividend Record 1908 to Apr. 15 1918. (V. 106. p. 304.)
1908.
1909-13. 1914. 1915. 1916. '17.
'18.
*19.
Regular _%
3X
3 yearly
3%
Extra—.%. 2H% stk.
In 1920: Jan., 1 % %; April, \M%.
4#
5
H
OH
1
0%
1
7
1920.
See
__
text.
BONDS.—On Dec. 311914 the following stocks (par value) were pledged
trust bonds: Gold & Stock Telegraph, $1,111,800; Inter¬
for the collateral
Tel.,
$1,961,500; N.
Y
Mutual
Tel., $2,387,700:
Capitalization of Leading Leased Properties on Feb. 15 1917.
Int.or div.
Lease
Capitalization of Leading
Leased Properties—
expires.
1932
2010
Anglo-Amer Tel. pref. stock
do
ordinary stock
2010
2010
2004
2010
deferred stock
Chlo. & St. Paul Tel. stock,
do
Amount.
Bonds
% Period.
mature.
$14,000,000 5
£3,240.540
£518,920
£3.240.540
43.000
Q—M
3
M&S
1978
1989
1975
366.100 2HM&N
Jan.
1981
1981
1982
N. Y. Mutual Tel. stk. ($25)Feb.
Mu.U.Tel.lstM.ext.gu.p.&l.
Northw. Tel. stk. ($50).-May 7 1980
lstM.,p. &i.guar. (V..91,p. 1022)
Pao. & Atl. stock ($25)
do
do
do
do
do
Text
\% 129 Front St N Y
do
do
June 1
1920, 2
do
do
D June 15 '1929
Q—M
Q—M
8
J
7g
A
June
1 '20
controlled by peroetual leases, $1.350 325; companies con¬
The bonds of subsidiary companies
guaranteed Dec. 31 1919 (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 1919, "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 $12,998,357.
In Dec. 1917 the Great Northern Ry. resumed operations of the line along
its right of way between St. Paul and Seattle.
V. 105, p. 2183.
Leases
the Anglo-American
Telegraph Company and
Direct United
States Cable for 99 years from Apr. 1 1911, dividends on the £7,000,000
Anglo-Amer. Telegraph Co. stock being guaranteed, viz.: 6% on the £3,240.540 pref., 1M % on the £3,240,540 deferred and 3 54 % on the £518,920
ordinary stock, the rental to the Direct United States Cable Co. to be
£58,568 yearly, the dividends on Its £1,214.200 stock not to exceed 5% with¬
out permission of Western Union Co
V. 91. D. 1715; V. 92. p. 958; V. 93,
99 years
999 years
or
m
734 876. 1047; V. 96, jp. 1301.
a
juaamsmmamm i. — ji. s
2.444,400 6
987,300 6
ell2,300 6
1 r. w*?«JEs=agr gsssne
limupn
l.
1920 (March estimated):
$3,883,000; bond int.. $333,000;
EARNINGS.—For 3 months ended March 31
Gross revenues, $28,650,000; net revenue,
net
income, $3,550,000.
.
—'
'
"
'mmf
' \
1431.™
REPORT^Ye^Ms^DwrsTr"¥ov"i0\07Y^\l0,
Gross oper.
p. 1410,
1917.
1918.
1919.
1916.
revenue—a$55,308,639 $54,283,411 $76,995,511 $61,919,140
$7,678,485 $14,212,505 $13,191,219
Net operating revenue. _a$6,847,7/4
Due from U. S. Govt, for
b5,184,298
compensation
Income from loans & inv.
Net
income
1,606,524
3,327.113
1,391,129
1,484,712
1,702,460
.$13,638,595 $12,396,726 $15,697,216 $14,893,679
Disbursements—
Bond interest
$776,913
C$554,938
$1,331,850
$1,331,850
1,166,424
Special payment to empl.
Transferred to
reserves—
1,900,000
1,000,000
1,000,000
1,825,000
750,000
152,816
Deprec'n of securities.
623,271
Cash dividends
(7%)6,982,472 (7)6,982,381 (7)6,982.298 (6)5,98-1,567
Adjustments (net)..
1,456,439
214,033
Balance, surplus..,.._.^$2,196,475
$3,270,583^ $4,733.069_$5,410,838
Accrued depreciation.
a
From"the
Land
Line
System for five months ended Dec. 31 1919 and
and from the Cable System and Maritime
b This is the compensation
months ended July 311918
Provinces for the calendar years.
See "b."
due the company from the U.S. Government
from Aug. 1 1918 to Dec.
months to Aug.
Miles
Year—
for the use of the Land Lines
c Seven
31 1918 and Jan. 1 1919 to July 31 1919.
1 1918 and five months to Dec. 31 1919.
of
Miles of
No. of
1916
Poles, &c.
Wire.
Offices. Messages.
Receipts.
Profits.
73,532
183,832
7,072 18,729,507$10,034.984 $3,399,510
189,936
769.201 21,078 66,591.858 24,978,443
7,496,037
237.664 1,627.342 25.234 Not stated 63,621.601 14.893.879
1919
215,651 1,615,282 25,159 Not stated 55,308,639 13,638,595
1876
1893
(Pres.). Oliver Ames. William Vin¬
Astor, Henry A. Bishop, Chauncey M. Depew, R. 8. Lovett, Donald
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.
Office, 195 B'way, N. Y.—(V. 109, p. 688; V. 110, p. 1410.)
DIRECTORS.—Newcomb Carlton
cent
-
WEST
SUGAR
FINANCE
CORP.—ORGANIZATION.—
1 1913 in Conn.
Business consists in financing sugar com-
INDIA
Incorp. Aug.
Eanies in thesugar cane and selling the secured by mortgages, liens on growWest Indies by advances sugar produced. Has also financed
crops of
ig
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, &c., of the companies having
bonds pledged to secure the 7s of 1829.
See V. 109, p. 2440.
provides for 3% of
which will retire the stock at 115 and
STOCK.—Annual sinking fund beginning Oct. 1920
the issued Pref. stock (V. 109, p. 895)
dividends.
BONDS.—The bonds are callable at 105 and int. for the sinking fund,
which will retire about $500,000 annually.
from time to time against the deposit of
the underlying or other companies, issued
Additional bonds may be issued
additional First Mtge. bonds of
at not exceeding 50% of the cost
of newly acquired property, betterments, Ac., to properties upon which
they are a lien.
These bonds are secured by pledge of bonds of the follow¬
ing companies:
$2,600,000
1,300,000
Co. 1st M. 7s
Cupey Sugar Co. 1st M. 7s.
Franklin Tel. stock,
Sou. & Atl. stock ($25)
do
do
Pal ma Soriano Sugar
3H
IX
Dominion Tel. Co. stk. ($50)
Empire & Bay State stock,,
Internat. Ocean Tel. stock-Jan.
No bonds
6
See text
£1,214,200
711,700 6
Q—J
300.000 4
Q—M
Direct U. S. Cable Co
Gold & Stock Tel. stock
do
4Hg M&N May 1 1950
M&N May 11941
5 g
J&J Jan 1 1934
4H
Companies
Malm
Telegraph Co., $111,000; Washington & New Orleans Teleg. Co., $30,000:
and bonds. Mutual Tel. 6s. $3,143,000.
The Funding and Real Estate 4^s, V. 70, p. 384, 1203; V. 71, p. 750;
V. 74, p. 785; V. 78, p. 1451; V. 80, p. 226; V. 97. p. 1827.
Notes payable Dec. 31 1919, $7,850,000.
Am. Tel. & Cable stock
Grand CentTermlnal.NY
1% Office. 195 B'way, N Y
1 1938
trolled by stock ownership, $431,550.
assumed
seven
Surplus.
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¬
erties, of which about 57 corporations maintain their corporate Identity
and organizations.
V. 97, p. 1903; V. 98, p. 301, 392, 615, 1076, 1998.
Excess war tax and telegram tax, V. 105, p. 1904.
Ticker decision.
V. 106, p. 2238, 2385.
Special wage payment in June 1918.
V. 106,
p. 2458.
Wages in 1918-19.
V. 106, p. 2619; V. 107, p. 702; V. 108.
p. 85.
Rate increase effective April 1 1919. V. 108, p. 1392; V. 109, p. 688.
On July 31 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.
?
Ocean
Apr 15 '20.
Q—J
J&J Jan
Gold A Steak Tel.. $2,555,600; Int. Ocean Tel.. $2,012,700:
Pacific A Atl. Tel.. $1,471,675; So. A Atl., $390,975.
Also owns tbroueh collateral trust, viz.
e $2,487,700'
g $3,143,000.
On Dec. 31 1919 the capital stock of subsidiary cos. not owned by the
Western Union Telegraph Co. aggregated at par value only $1,781,875, viz.:
Balance
Interest
OFFICERS.—Pres., H. M, Byllesby; Vice-Pres's., J. J. O'Brien, F. O.
Gordon, and Otto E. Osthoff; Sec. & Treas., R. J. Graf.—(Y. 110, p. 881.)
national
Guaranty Trust Co, N Y
11923
On Dec. 31 1915 the company owned (not Included In above amounts)
& St. Paul Tel., $57,000; Dominion Tel., $288,300: Franklin Tel..
thereafter at 100 and interest.
No new mortgage may be created upon
the present property without equally securing these notes. The remain¬
'Earns.
A Feb
A
Z*mK •
pref., 7% per annum since incorporation.
On
(No. 1), Aug. 15 1915 to Aug, 15 1919 2% p. a. (W% Q.-F.).
Dec.
F
Union Tr Co, San Fran
"
Chlo.
redeemed through sinking fund operations, $665,500.
Except for refunding
divisional bonds (only $275,000 outstanding) no additional bonds may be
Year.
''
'*
$630,000;
p.
DIVIDENDS.—On
common
Philadelphia
San Francisco
:
"
/■.I'
Cal.
in31919
5
1,781.875
2,000,000
3,500,000
4,500,000
100
West India Sugar Finance—Com $2,000,000.
Secured
6 x
8.637.00C
20,000,000
1,857,000
1,500.000
1,000
n A lest 1904.x
1919 (see text)....
1st mtge gu
Htock of subsidiaries not owned Dec. 31
6H
1,500,000
99.786.727 7
Payable
are
do
Apr 15 1920 1H
D June 1 1941
A
J&J July 1 1933
F
A
A Aug 1 1923
F
A
A Feb 1927
1
1884
Dividends
Aug 15' 19. X% Checks mailed
$3,503,000
2,231,500
Text
100
500 Ac
$5,000,000
First A Ref M (of Cal) $10,000,000 gold call 105 sk
American River Electric 1st M (closed) callable..
Places Where Interest and
Last Dividend
Bonds
MISCELLANEOUS COMPANIES
IFor abbreviations, <Ac., see notes on first page I
p.
[Vol. 110.
INDUSTRIAL STOCKS AND BONDS
240
Q—J
Q—J
No bords
Carmen Centrale
No bo< ds
No bonds
Central Alto Cedro 1st M. 7s
No box ds
No boids
gl,857,000 5g. M&N
J&J
2,500,000 6
"May" nil
J&J
1,500,000 4X
J&J
528,325 4
A&O
558,575 5
Jan" " 1934
No bonds
The
reserves
6s
-
2,500,000
600,000
the privilege of temporarily hypothecating in
onds not exceeding $300,000.
Elace of a portion of the above collateral an equal amount of U. 8. Liberty
Y. 108, p. 2440.
DIVIDENDS.—A div. of 5% was paid on the Common stock Sept. 30,
making a total of 8% for the year ended 8ept. 30 1919, 3% having been
paid May or June 1919.
In March and June 1920 paid 1^% each.
The
directors have decided to place the common stock on a 7% P- a. basis,
payable quarterly, March, &c.
From date of incorporation to date comany has paid 6% p. a.
On pref., Dec. 1 1919 to June 1 1920, 2% quar
109, p. 1186.
¥
"
No bonds
company
1st M.
—.
INDUSTRIAL STOCKS AND BONDS
May, 1920.]
MISCELLANEOUS COMPANIES
Date
Par
Amount
Rate
When
[For abbreviations, &c., see notes on first pageJ
Bonds
Value
Outstanding
%
Payable
Westinghouse Air Brake—Stock $30.000,000
Westing EI&Mfg—Com. stk $71,000,000 auth(V 71,p 1274)
Pref stock $4,000,000 (a & d) 7% cum and participating—
Westinghouse Machine Co—1st <Sc Ref Mtge
eold
Westlagnouse Foundry 1st M guar due $5U,000 yearly
Weyman-Bruton Co—Common stock $9,000,000——
Pref stock (a & d) 7% non-oum $9,000,000—
White Motor Co—Auth capital stock, see text
x Includes outstanding prer. stock of Western States Gas
x
Also authorized to list
x
x
1916
Co.
Stock
$719,642; for year ended Sept. 30 1919 (est.)
OFFICERS.—Thomas A. Howell, Pres.; Henry W. Wilmot, Vlce-Pres.;
Sec.; James Bliss Coombs, Treas.—(V. 108, p. 2440;
V. 109, p. 895. 1186).
WESTINGHOUSE AIR BRAKE CO.—ORGANIZATION, &G.—A
Pennsylvania corporation.
V. 67, p. 843, 1065; V. 77, p. 1307; V. 94, p.
141.
In 1912 granted the New York Air Brake Co. a general license under
its U. S. patents.
V. 95, p. 748; V. 105, p. 1517.
The shareholders
voted Mar.
15 1917 to Increase the authorized
capital stock from $20,000,000 ($19,730,967 outstanding Dec. 8 1916) to
$30,000,000 In order (1) to acquire the stock of the Union Switch & Signal
Co. (95.45% owned Dec. 31 *19); (2) to pay on the stock as so increased a
dividend of 20% ($10 p. s.) in Westinghouse Air Brake stock.
This in¬
creased the outstanding stock to $29,165,800 (of which $78,050 was in
treasury Dec. 31 1919).
See V. 103, p. 2245, 2349; V. 104, p. 263, 1065.
Switch plant destroyed by fire Feb. 10 1917, has been replaced by a new
$5,000,000 plant.
V. 104, p. 669, 1065.
,
'10. *11. *12. '13.'14-15. 16.' '17 '18
20
19 16
16
26 14 H 14
33 1-3 5
20 —
ggFrom Jan. 1918 to April 1920 paid 3)4% Quar. (14% p. a.).
LATE DIVS.f07. *08. *09.
}• 20 12)4 11>* 21
I
25
--
Percent
In stock
__
REPORT.—For year ended Dec. 31
'19. '20.
14
see
--
text
1919 in V. 110, p. 1524:
Year ended,
17 Mas. to
—Years end. July 31—
Dec. 31 *19
Dec. 31 '18
Net earnings, all sources_$7,912,569
Cash dividends paid-4,072,492
$9,711,900
5.076,978
2,250,000
1916-17.
$6,388,463
5,565,413
,*
H\
Federal taxes
1,625,000
(estimated)
1915-16.
$9,396,103
3,140,972
surplus
.$2,215,077
$2,384,922
$823,050 $6,255,131
Total surplus Doc. 31 1919, $14,879,629.
Chairman, Henry H. Westinghouse; Vice-Chairman, John F. Miller;
Pres., A. L. Humphrey: Treas. & Act. V.-Pres.. S. O. McOonahey; Sec.,
Hubert C. Tener.
N. Y. office, 165 B'way.—(Y. 110, p. 1524.)
Balance,
WESTINGHOUSE ELECTRIC & MANUFACTURING CO.—ORGANIZATION.—A Pennsylvania corporation manufacturing appliances
used for electric-lighting and power purposes.
V. 54, p. 763; V. 85, p. 156,
1458.
Owns exclusive rights to Tesla patents on alternating currents.
V. 61, D. 25. 153.
The Essington 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. 107, p. 516, 2482; V. 106, p. 2204.
In 1917-18 also a plant
was built at Trenton, N. J., to manufacture incandescent lamps.
V. 105.
8.o.. Inc., Brooklyn,1809,Y. V.
2006; V. 106, p. N. 2223.
In June 1918 purchased the Krantz Mfg.
106, p. 2764. During 1918-19 acquired the
Franklin Electric Mfg. Co., manufacturer of incandescent lamps at Hartford
& Middletown, Conn.
V. 108, p. 2236.
In April 1919 the company had
arranged to sell its British interests.
V. 108, p. 1524, 1064, 2336.
New England Westinghouse Co. ($1,000,000 outstanding stock).
The
plant at East Springfield is now in operation, devoted exclusively to manu¬
facture of industrial motors and automobile starting and lighting apparatus.
V. 108, p. 2236; V. 106, p. 93. 2661; V. 105. p. 2549,1426.
V. 100, p. 1924.
1679; V. 101, p. 619; V. 103, p. 2245.
In 1908 finances were readjusted (Y.86. P. 922; V.87, p. 101, 875, 1531,
In June 1917 merger of the Westinghouse Machine Co. was effected,
over 98% of the stock having been acquired.
V. 104, p. 1169. 2016. 2250Unfilled Orders.—Alter the elimination of contracts and orders canceled
as a result of the signing of the armistice, the value of unfilled orders on
April 1 1919 was $76,248,000 [against $147,857,580 on April 1 1918 of
which $110,185,007 was for the regular products of the company.)
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
common stock were allowed to subscribe and pav 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*The2pref.
„
of 7% per annum, with the right to
other stock after the same shall have received 7 %
principal.
See editorial May 1893 issue.
DIVS.—
'09. '10. *11. '12. 1913-14. *15. *16. 1917-18.
1919.
1920.
Pref., %
5Yi. 10)412K 7
7 yearly
.7
7 7 yearly.
7%
See
Com., %-..0
0
0
2 4 yearly
5 4M 7 yearly
7M
text
Also on common and pref. July 31 1917 a special 44 of 1% to aid Red
Cross contributions.
July 1919 to Apr. 1920 paid 2% quar. on both com.
and pref. stocks. V. 104, p. 2562; V. 108, p. 2029; V. 109, p. 1280.
NOTES.—The $15,000,000 one-year notes of 1919 were paid off at ma¬
stock carries cum. divs.
participate equally with
and pref. as to
1920.
.
,_ _.
$10,000 5% collateral notes due Jan. 1 1924;
purchase money intges.. $120,000.
Bank loans Mar. 31 1919. $5,280,000; 1918, $12,700,000.
turity on Feb. 1
_
There are also
Arms Co. from
Jan. 1
1918^gig
20
1918_19>
real estate
Co. and J. Stevens
$136,052,092 $160,379,942 $95,735,407
income—_—_$16,801,164 $17,335,802 $16,834,733
u70|OU4;
uUu
JLI
>s_
and debs. f
f
378,804
Sales billed
Total net
**
J
J
J'
jv
Int.
on
ssJ
collateral notes
Int.
on
notes
payable..
1,594,823
Div.
on
—
1,891.478
1,891,478
.
pref. stock (7%)
common stock..
'319", 896
5,665,003
25,698
279,909
4.956,876
surplus.
$9,221,442
$9,803,037
Miscellaneous
on
$89,539,542
$18,848,237
""
Int. on bonds
Div.
1916-17.
1917-I8.
1,108,046
17,089
x299,903
x5,310,946
Total surplus Mar. 31__$43,435,763 $36,207,732
x Includes Red Cross
dividends of >4 of 1%
calling for $19,994 and
89,333
136,000
529,115
13,900
279,909
3,750,000
$9,794,833 $14,049,980
$26,404,695 $18,i05,299
each on pref. and com.,
$354,070, respectively.
DIRECTORS.—Clara explringjn June 1921—James
D. Gallery, PaulID.
Cravath, James N. Wallace and Harrison Nesblt. Class expiring
—A. G. Becker, George M. Verity, William McConway, J. J.
June 1922
Hanauer,
June 1923—Samuel M. Vauclain, John R. McCune. Edwin F.
Atkins and E. M. Herr.
Class expiring June 1920—Joseph W. Marsh.
Guy E. Tripp, H. H. Westinghouse and Albert H. Wiggin.
Class expiring
.
OFFICERS.—Chairman of Board, Guy E. Tripp;
Pres., E. M, Herr
V.-Ps., H. P. Davis, L. A. Osborne, Charles A. Terry, H. D. Shute, H. T
Herr and Walter Gary; Treas., H. F. Baetz; Comp. & Sec., J. O. Bennett
Offices, 165 Bway, N. Y., and East Pittsburgh, Pa.—(V. 110, p. 474,
568.)
WESTINGHOUSE MACHINE CO.—See Westinghouse El. & Mfg. Co.
CO.—ORGANIZATION.—Incorporated in N. J.
the snuff factory at Chloago, 111,, formerly
two at Nashville, Tenn.. entire stock
of De Voe Snuff Co. with factory In Spotswood, N. J., and 50% of stock of
Na tional Tobacco Co., Ltd., of Canada, with factory in Montreal.
P. B.
Gravely Tobacco Co., Danville. Va., V. 93, p. 1609; V. 94, p. 285.
STOCK.—No lien prior to the pref. stock without the^consent of twothirds of each class or stock.
Prer. 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 capital
stock by 30,000 shares each, of com. andfpref. stock (par $100), making
the total authorized capital stock $18,000,000, of which $9,000,000 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
WEYMAN-BRUTON
2 1911 and
Deo.
owned
took
by American
over
Snuff Co.,
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. 103, p. 177, 387.
common
DIVIDENDS. —(1912.
%{ 5
1913.
'14.
12
1918.1919-20
1917.
'15.1916.
12
12
14
Text
See
text
20
—*
Pref dividends 7% per annum (194% Q.-J.) since April 1 1912.
In March 1918 a stock dividend of 20%iwas declared on the $4,600,000
common stock, payable Oct, 1 to [holders *of record Sept. 16, 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 ($230,000).
In Jan., April, July and Oct. 1919
and Jan. and Apr. 1920 paid,,2)4% with no extra.
^
1
Oncommon
extra
scrip
10
% |
—
—
stock, % [ (xPaid off 1915) x20 ~xl0
—
or
12
10
—
REPORT.—Year 1919, in V. 110, p. 871:
1919.
1918.
earnings
x$l,727,205 x$l,487,984
Preferred dividends (7%)
328,216
323,554
Common dividends.._(10%)662,300(2)^)138,000
do
stock
(20)920,000
After
1916.
1917.
x$l,471,528 C$1,448,711
322,000
322,000
(20)920,000 (20)920,000
$229,528
$106,430
$736,689
Balance, surplus
x
—
—
Calendar Years—
Net
$206,711
providing for Federal^taxes.
OFFICERS.—Pres., J. Peterson; Sec. & Treas., I. L. Elliott.
1107
Office
Broadway, N. Y.—(V. 110, p. 871.)
WHEELING MOLD & FOUNDRY.—(V. 109, p. 1373, 1468.)
WHEELING STEEL & IRON.CO.—(V. 110, p. 977.)
WHITE EAGLE OIL & REFINING CO.—(V. 110,
WHITE OIL CORP.—(V. 109, p.
p.270,474,2083.)
1994, 2272; V. 110, p. 1650.)
WHITE MOTOR CO.—ORGANIZATION.—Incorporated in Ohio and
over all the capital stock, exceptlug qualifying shares, of the White Co.
took
of Cleveland, makers White motor trucks.
(V. 103, p.
facture of passenger automobiles was discontinued in
1918-19
of entire block at Long Island City, N.
1979.) The manu¬
1919. Purchase in
Y., and two blocksJn
1524.
Chicago, see V. 107, p. 2482; V. 108, p.
STOCK.—The stockhoIdersTonMune 1011919'authorized 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
ono new share for each four shams held at the close of business Dec. 15.
V. 108, p. 2029. 2446, 2534; V. 109, p. 1899, 2364.
The stockholders will vote June 9 1920 on increasing the capital stock
from $25,000,000 to $35,000,000.
DIVIDENDS.—No. 1 April 8 1916. 154%; No. 2 July 15.154%; Sept.
154%: Dec. 31 1916 to June 30 1920, 2% quar.
REPORT.—For year 1919, in V. 110, p. 1983:
Dividends
Balance,
Total
Total
Federal
Paid.
Surplus.
Sales.
Income.
Taxes.
>$1,440,000 $1,429,876
$41,667,697 $5,729,876 $2,860,000
1,280,000
1,400,585
39.559,794
6,380,585
3,700,000
2,520,309
1917
25,749,446
4.830,309
1,030,000 voyo 1,280,000
—
Profit and loss surplus Dec. 311918 $6,621,470; notes payable, $1,000,000
Calendar
Years—
1919
1918
DIRECTORS.—M.
B.
Johnson
(Chairman of Board),
W. T. White
(Pres.), W. O. White (1st V.-P.), E. W. Hulet (2d V.-P.), Otto Miller
(Treas,), A. R. Warner (Sec.), J. R. Nutt, W. S. Hayden, all of Cleveland,
O.: J. Horace Harding, Michael Gavin, E. R. Tinker, New York.
Office,
842 E. 79th St., Cleveland, O.—(V. 110, p. 1983.)
(WILLIAM) WHITMAN CO.—(V. 110, p. 474.)
WICKWIRE SPENCER STEEL CORP.—A merger, as
of the Clin ton-Wright Wire Co., one of
of Jan
1920,
the largest manufacturers of wire,
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 rods and other high-grade steel wire products.
wire rope,
CAPITAL
STOCK.—Class A common shares
and the common shares
assets.
Class A common is entitled to cumulative
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.
are
of equal status as to
divs. of $4 per
Exchange or common stock
Balance over
Payable
e
ANNUAL REPORT.—Fiscal year ends Mar. 31. Report for year ending
31 1919 in V. 108, p. 2236.
The gross earnings (sales billed) for 1918-
by New England Westinghouse
are
,
Mar
19 include shipments
Where Interest and
Dividends
of C al.
Exchang
Lorenzo D. Armstrong,
.
Places
Maturity
Apr 30 '20, 3)4 Pittsburgh, Pa
Apr 30 "20. 2% Checks mailed fromPIttsb
do
do
Apr 15 20 2%
Nov 1 1940
Ooionial Trust Co, Pitt
To May 1 1926 Colonial Trust Co, F ittsb
6,623,800 See text See text Apr 1 1920 2)4 Checks mailed
7
do
Q—J
4,688,800
Apr 1 '20.
15l
8
June30 '20,2% Checks mailed
24,604,850
Q—J
100
100
EARNINGS.—Earnings available for Pref. stock divs. for fiscal year
Sept. 30 1918 amounted to
$816,506.
and
1*
1902
& ElecT
Last Dividend
Q—J31
$500 $29,087,750 se« text
50 z70,813,950 7)4 1919
y—j
50
Q—J
3.998,700 7)| 1919
1,000
y—f
6,111,000
MAN
190.000
1,000
50
additional $186,050 on the N. Y.
241
of
certificates and retirement of first pref.
Clinton-Wright Wire Co., V. 110, p.
stock
977.
gold bonds ($30,000,000 auth.) are
callable as a whole or in part as follows: 105 to Dec. 31 1924; 104 to Dec. 31
1926; 103 to Dec. 31 1928; 102 to Dec. 31 1930; 101 to Dec. 31 1932; 100
thereafter.
Sinking fund, commencing in 1923, will retire over 50% of the
present issue before maturity.
m
""DIRECTORS.—Harry W. Goddard, T. H. Wickwire, T. H. Wickwire
Jr.. Ward A. Wickwire, G. M. Thompson, Frank Kilmer, L. W. Robinson,
Frank A. Drury, PaulB. Morgan, R. B. Young.—(V. 110, p. 474, 568, 977.)
BONDS.—The 1st Mtge. 7% s. f.
[Vol. 110.
INDUSTRIAL STOCKS AND BONDS
242
Date
Par
Amount
first page]
Value
Outstanding
%
8% cum 1st pref (a & d) stock red 110 auth $7,500,000..
First Mtge s r bonds callable (see text)auth,$30,000,000 Qc*
1920
Pref stock 7% cum
non-convert $10,000,000.
100
100
fd..
$25,000,000 gold call 107 H
Qc*&r»
Convertible bonds $20,000,000 call sfd
Q.c*
Winchester Co—Common stock $10,000,000
First preferred 7% (a & d) cumulative $10,000,000.
Second preferred 6% non-cumulative $10,000,000
lst M s fd
7
1918
14,044.800
100
8,893.600
None 20U,00U8hrs
$100 $10,369,900
.000 &c 20.018.047
1,000 20,000.000
100
1,000,000
100
9,754,700
100
2.000,000
CORPORATION.—ORGANIZATION.—Incorp. July 24
Co. In Sept. 1919 adopted present
Gear Corp. of Syracuse, N. Y., and
the Duesenburg Motors Corp. of Elizabeth, N. J., and Poughkeepsie, N. Y.
Is to manufacture 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
&c.; gears and starting, lighting and ignition systems for automobiles.
A
new automobile plant is being constructed at Elizabeth, N. J., at which
operations are expected to be begun in the summer of 1920.
Q—F
Q—F
Q—*J
7
6 g
A
&
6 g
J
&
May 1 '20 2
Apr 1 1920 IX
May 1 1920 1%
Apr 1 1920 1X
May 1 '20
May 1 *20 $1.25
Apr 1 1920 IX
O Apr 1 1941
D Dec 1 1928
text
do
New York
Checks mailed
New York &
New York
1636:
1917.
x$6,735,003 x$7,272,752
1,198,748
1,151,208
1 1,632,733
(1,017,275
1,017,275
ending Dec. 31 1919, in V. 110, p.
1919.
1918.
Calendar Years—
Pref. (cum. convert.)
Preferred dividends
divs. (7%)
J
\ 298,379
121,065
(4%)l,629,858 (4)1,626,891(12)4,885,237
Common dividends (cash)
After providing for
STOCK.—The First Pref. stock
is redeemable In whole or in part or for
No mortgage without
Pref.
75% of the 1st Pref. stock.
conversion of
each share of
of the 2nd Pref.
pref. Old pref.
2 1920. All
stock 300,000 shares are reserved for the
the rate of two shares of Common for
Of the Common
the 1st Pref. stock, at
1st Pref.; 250,000 shares are reserved for the conversion
at the rate of 2}$ shares of common for each share of 2d
stock of the Electric Auto-Lite Co. was paid off at 110 on Jan.
funded debt has been paid off.
An initial div. of $1 23 (for
1919
period Oct. 6 1919 to Dec. 1) was
the 1st pref. stock; Mar. 1920, 2%. V. 109, p. 1994.
% on 2d pref. paid Jan. 1 1920; same amount paid April
on
of 1%
paid Dec. 1
Initial div.
1 1920.
Federal taxes.
DIRECTORS.—John N. Willys (Pres.), O. A.
DIRECTORS.—John N. Willys, Pres.; Edward F. Swift, F.
E. R. Harbeck, Vice-Pres.; Chas. Sollberg and J. V. Hail.—(Y.
969, 1637.)
Earl (1st V.-P.), Jas- E.
Kepperley (V.-P.), Edwin B. Jackson (V.-P.), W. P. Chrysler, Le Roy
F. K. Dolbeer (Treas.), Edward F
Swift and Rathbun Fuller.
—(V. 110, p. 772, 1096. 1328, 1636. 1650.)
Kramer,
WILSON & CO., INC.—Incorp. April 7 1910 in N. Y.
Capitalization
readjusted in Aug. 1918 without reincorporation.
Established in 1853.
Name was changed from Sulzberger & Sons Co. to Wilson & Co., Inc., in
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., and Natchez.
Miss. Combined capacity of present plants about 187.000 cattle, sheep and
Company has, either directly or through sub. cos., all of
120 distributing branches by means of which and of its
hogs per week.
whose stock it holds,
refrigerator car service it distributes Its products to practically every city
and town of Importance in the United States.
Also does a large export
trade.
Indirectly owns 2,131 railroad cars, of which 1,710 are refrigerator
cars.
V. 91. p. 981, 1714; V. 90. p. 1048; V. 94, p. 491; V. 105, p. 723.
In
1918 purchased additional Chicago property for $200,000, subject to a
Surchase money mortgage for 187, 612, 1583.106, p. 1809. Federal Trade
V.
lommission, &c., V. 107, p. $100,000.
1917 a new subsidiary, the Wilson Fisheries Co., was
purchased several concerns.
V. 106. d. 404.
In Dec.
REPORT.—For year ended Dec. 31 1919, In V. 110, p. 969, showed:
$7,304,596; net profit, $5,364,683; reserves for Federal taxes,
&c., $1,223,428; dividends, $580,245; premium on pref. stock retired,
$310,210; surplus, $3,250,800.
Gross profit,
S. Wheeler,
$97,967
$2,593,710
def$l,527,322
Balance, surplus
book value exclusive of
sinking fund at 110, Convertible upon 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
Chicago
City
Apr 15 1920 3<
SECURITY HOLDINGS.—The
a
Trust Co, N
do
3}
.A & O 15 Apr 15 1920
.
Bankers
1X Company, Toledo, O
Net earnings and income (see below)_x$3,206,939
Deduct—Int. on floating debt, &c_.
1,471,671
x
security holdings on Dec. 31 1919 had
intangible assets of $19,091,782 and comprise
among others, 500 shares (over 27%) par value $25 of the Common stock
of Tho Willys-Overland Co.; $1,000,000 par value of the 7% Convertible
Second Preferred stock of the Fisk Rubbor Co., and $1,000 of the 7% Con¬
vertible Second Preferred stock of the Federal Rubber Co.
Additional
holdings were in 11 companies, all of which are directly or indirectly connected with the supplying of parts or machinery to tho automobile industry.
7
$5
REPORT.—For year
WILLYS
1917 in Deleware as Klec. Auto-Lite
name and acquired the New Process
Q—F
Q—J
7
100
8ee text..
shrs
Wilson & Co Inc—Common stock authorised 500,000
Pref stk (a & d) 7% cum, red all or part at 125, also sk
Q—M
8
1 1935
J Jan
&
J
7 g
New
4% »n' 19
See text
25
May 1 '20, $1
May 1 *20, 2%
Q—F
New
4,450,000
15,000,000
10,000,000
None
Corporation—Common 5,000,000 shares
First pref (a & d) 8% cum conv stock call at 110 $15,000,000
Second pref (a & d) stock 7% cum conv (call 100;
Willys-Overland Co—Common stock $75,000.000—
Preferred (a & d) 7% cum convert, red at 110
Willy®
New
Places Where Interest and
Dividends are Payable
New
New
100
and Maturity
Payable
New
$5 250,000shrs
5
80,000shrs
$7,500,000
500 &c
12,500,000
Wickwire Spencer Steel Corp—Com stk auth 250,000 shs_
Common Class A stock $4 cumulative stock auth 80,000 shs
Last Dividend
When
Rate
Bond*
MISCELLANEOUS COMPANIES
IFor abbreviations, Ac., see notes on
and
In Aug. 1919 sold its grocery .packing, vegetable and fishing
the new Austin, Nichols & Co., Inc. (V. 109, p. 379, 586, 895),
organized
business to
each share¬
being permitted to subscribe at $25
Austin, &c., stock. V. 109, p. 379, 586, 895.
holder of 5 shares of Wilson common
a
110, p. 475,
share for 2 shares of new
The
"Big
Fi've"
Packers, in Dec. 1919, agreed to the
in the Government suit
entering of a decree
requiring them within two years to give up their
yards and other outside interests (except their handling or eggs,
butter, poultry and cheese, which is left for future consideration) ana in
general to confine their operations to the wholesale meat business.
V. 109.
p. 2364.
stock
WILLYS-OVERLAND
Nov. 1912 and acquired the
CO.—ORGANIZATION.—Incorp. In Ohio
properties and business of the Willys-Overland
One of the largest manufacturers of automobiles In
the U. S.
Excepting tires and a few patented appliances, it makes prac¬
tically all parts from raw materials. The sales have been as follows:
Co.
of Toledo.
O.
1912.
No. cars sold
1913.
1914.
1915.
21,000 37,000 48.000 95,000
1916.
1917.
142,441 140,002
1918.
88,733
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.
586. 788, 987, 1186.
In 1917 purchased control of Ourtlss Aero. & Motor Corp. (which see
above), receiving the following securities, viz.: (a) 24,000 shares of Ourtiss
7% pref. at $75 per share; (b) 60,000 shares of common at $25 a share; and
(c) $1,600,000 Ourtiss 10-year 6% notes (redeemed in March 1918 at 102}$).
V. 105, p. 824.
V. 105, p. 826.
ALLIED
1918 purchased control of the Moline Plow Co., in order to
motor-drawn farming implements in anticipation of large
See that company above and V. 107,
1292, 1389, 1925.
In Sept.
manufacture
demand following end of the war.
p.
In conjunction with the British firm of Crossley Motors, Ltd., formed
Willys-Overland-Crossleys, Ltd., in Dec. 1919, which is producing
Willys-Overland cars at Manchester, England. Y. 110, p. 475.
the
the
STOCK.—In Aug. 1918 the company was recapitalized.
In place of
$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.
In
place of the $12,000,000 old 7% cum. pref.
stock, of which $723,600 had
been retired through sinking funds, and $800,000 was still
000,000 new 7% cum. pref. stock was
p.
unissued, $12,-
created with similar rights. V. 107,
187, 612, 702; Y. 108, p. 85.
no vote except in case of default in payment of divi¬
V. 97, p. 527; V. 91, p. 1714. In July 1915 the com.
placed in a 5-year voting trust, A. Barton Hepburn, Charles H.
Sabin, Henry H. Wehrhane, Elisha Walker and Pres. Thomas E. Wilson. V.
101. p. 292.
In March 1916 control was acquired by purchase of a ma¬
jority of the common stock by a group of bankers.
Preferred has
dends for
stock
one year.
was
DIVIDENDS.—Divs. on pref., 1J*% quar.. paid to
Initial div. of $1 25 paid on common stock May 1
$1 25 quar.
A sinking fund to retire each year at
pref. stock outstanding on
Apr. 1 1920. incl.
1919; to May 1920;
not over 125 and divs., 2% of the
preceding Dec. 31.
$25,000,000 1st M. 6% bonds was author¬
that year and $5,000,000 in 1918. The re¬
provide for 75% of the cost of future betterments
and extensions and to pay prior liens on properties at the time subject to
the mortgage or owned oy companies a majority of whose stock is pledged
thereunder.
Annual sinking fund beginning 1917, 1% of bonds outstand¬
ing, to retire bonds which are to be kept alive in sinking fund.
V. 108,
p. 1299, 180; V. 107, p. 910.
BONDS.—In 1916 an issue of
ized; $15,000,000 were sold in
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. 1290; V. 103, p. 66, 762, 853, 1039, 1046,
1216,1432.
On May 25 1916 each share of common, par $lOO, was divided
Into four shares, par $25.
See also V. 105, p. 614.
plan of Nov. 1915 the company paid off at 110 on Jan. 13 1916
$4,483,700 preferred stock and sold at 102}$ $15,000,000 (of
$25,000,000 preferred issue) of 7% cum. pref. stock (preferred prin.
& 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.
stock for each $25 share of common stock.
V. 102, p. 1168. V. 101, p.
1033; V. 102, p. 257. 350, 443. 528.
Under
the original
a new
In Aug. 1917, for purchase of control of Ourtiss Aeroplane & Motor Corp.,
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. 11918, with agreement that such notes are not to be sold. V•105,p.826.
The authorized common stock was increased in Mar. 1920 from $50,000,000 to $75,000,000 (V. 110, p. 1328).
Stockholders of record Apr. 23
1920 were offered the privilege of subscribing to $20,000,000 of the new
stock at par ($25) to the extent of 50% of holdings. V. 110, p. 1650.
Out¬
standing Apr. 1920, $41,620,881.
sold to
11917 and yearly
The company will set aside anually on or before July
thereafter for the purchase or nredemotion of the pref. stock a fund
equal to 3% of the aggregate amount of same issued, whether or not then
outstanding.
Without the consent of 75% of the pref. outstanding: No
mortgage shall 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.
Nc voting power
unless four quarterly dividends are in default.
Y. 102, p. 159.
(iBank loans Dec. 31 1919,
DIYID'S.— 1913.
Commonstock.
6
do
extra..
5
1914.
6
$30,360,000.
1915.
1910.
1917. Feb 1 '18 to
6
9
12
1% quar.
5 stock 5 stock 5 stock
May 1 *20
(Q—F)
mainder is reserved to
The $20,000,000 6% convertible bonds of 1918 (V. 107, p. 2195) are sub¬
ject to call June 1 1919 at 105% and int., thereafter at 105% and int. less
}$ of 1 % for each year, or part thereof, elapsed after June 1 1919.
Sinking
fund, $1,500,000 annually on each March 1, 1921 to 1925, both incl., ana
$2,000,000 annually 1926 to 1928, both Incl. (less credits for bonds con¬
verted) to be applied to the retirement and cancellation of bonds.
These
bonds will be exchangeable from and after Dec. 1 1920 at option of holder
at any time prior to maturity (or up to 30 days of redemption date) into
common stock at rate of 10 shares for each $1,000 bonds, with cash ad¬
justment of interest and dividends.
The basis of exchange will be adjusted
in certain cases if additional common stock is issued (other than in exchange
for these bonds); but in no event will the exchange be made on a basis of
less than ten shares for each $1,000 bond.
While any of these bonds are
outstanding no new blanket mortgage can be made, the quick assets must
not fall below 1X times the current liabilities or the amount of these bonds
outstanding. V. 108, p. 2248.
,
REPORT.—For cal. year 1919. V. 110, p.
Calendar Years—
1919.
Sales
$5,165,888
$8,563,911
$7,408,172
$5,710,357
2,394,562
733,293
750,000
932,376
733,348
903,750
713,188
796,485
700,714
$1,288,032
$6,898,187 $5,791,234
surplus..$21,027,264 $19,789,232 $15,051,045
$4,213,158
$9,359,811
Netprofit
Interest
dividends
Com. div. ($3 75 p. s.)_.
Preferred
Balance, surplus
ProfR and loss,
1195.
1918.
1917.
1916.
$400000,000 $225000,000 $159000,000
T
OFFICERS.—Pres., Thomas E. Wilson; Vice Pres'ts, George H. Cowan.
J. Moog. A. Lowenstein and V. D. Skinworth; Sec., George
Hopkins; Treas., W. C. Buethe.
Office, 816 First Ave., N. Y.—
(V. 109. P. 586, 2364; V. 110, p. 1195, 1286.)
A. E. Petersen,
D.
May, 1920]
INDUSTRIAL STOCKS AND BONDS
MISCELLANEOUS COMPANIES
[For abbreviations, &c.,
see notes on
««vn|
Date
Par
Amount
Rate
When
Bonds
first page]
Value
Outstanding
%
Payable
Last Dividend
and Maturity
(F W)
Wool worth Co—Common stock
Pref stock (a & d) 7% oum red
125
Worthington Pump & Mach. Corp.—Com stk $15,000,000
Pref A stk 7 % cum $10,000,000 call 115 & div text
Pref B stk 6% (cum 1919) $11,000,000 call 105 & divs
Holly Mfg Co 1st M (new) guar p & 1, call par
$100
See
text
100
See
text
-
8 In 1919
1916
100
100
100 &c.
31
Q-M
See text
Farmers' L 8c Tr Co. N Y
Q—J
Q-J 15
Q—J
Q—J
Apr 1 1920
Apr 15 1920
Apr 1 1920
Apr 1 1920
J July 1 1922
do
1M
do
1% New York
1% New York
do
1H
115 Broadway, N Y
Girard Trust Co, Phlla
5,592,833 7 in 1919
10,321,671 6 in 1919
306.200
(C. R.) WILSON BODY CO.—ORGANIZATION.—Incorp. in Deleware July 15 1919 as successor to C. R. Wilson
Body Co. of Detroit.
Man¬
ufactures automobile bodies for touring and closed cars.
Plant at Detroit
has about 400,000 sq. ft. of floor space; wood
working plant at Bay City,
Mich, has 150,000 sq. ft. of floor space.
5
5
*19, issu able to enlist al d of
Where Interest and
Dividends are Payable
7
200,000
Excludes $780,000 held In treasury Dec.
Places
See text
100 x$12212149
Jeanesville Iron Works Co 1st M
x
243
J
&
M
&
N 1922
Int erests. & c. V. 106 ,P.1224.
new
SALES.—
I
April.
1920
1919
4 Months,
$10,743,878 $38,256,991
9,135.404
32,584.629
See V. 109, p. 1187.
REPORT.—For calendar year 1919 in V. 110, p. 656:
CAPITALIZA6ION.—Authorized, $5,000,000 7% Oumul. Pref. (a. &
d.) stock and $2,000,000 Common.
Outstanding $1,500,000 Pref. and
$567,150 Common.
Pref. is callable at 110.
Sinking fund begins in April
1921 20% of net profits after Pref. divs.
No mortgage without consent of
75% of the outstanding Pref. stock.
See offering in V. 109, p. 1187.
General Manager, O. Haines Wilson, Detroit, Mich.—(V. 109,
p. 1187).
WINCHESTER REPEATINQ ARMS CO.—See Winchester Co. below.
1919.
Capitalization
1st pref. stock.
Winchester Co.
(Par $100 per Share).
Total original iasue (see offer, V.108,p.2029)_$10,000,000
The original issue of
capital stock of the
new company
its liabilities, and the
contributed
as
new
sum
,
$5,486,557
Federal taxes paid
Surplus—
Total
$2,213,716
932,121
$4,239,832
$3,792,319
1,232,209 (see "1918")
$4,554,436
Previous surplus
surplus
$981,507
$4,239,832
$3,792,319
20,590,000
—_
19,608,493
15,368,660
11.576^2
$25,144,436x$20,590,000x$19,608,492 $15,368,660
x 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
year respectively.
The tax for 1917 paid in 1918, it will be observed, is
here charged against the balance surplus for 1918.
OFFICERS.—C. S. Woolworth, Chairman; H. T. Parson, Pres.; F. M.
Kirby, E. P. Charlton, J. F. Nutting, V.-Pres.; C. F. Valentine, Sec. &
Treas.—(V. 110, p. 656, 1096. 1533, 1650, 1983, 2200.)
of $3,500,000 in cash, which is to be
capital (see below).
WORLD FILM CORP.—Financial plan of 1919, V. 108. p. 1065, 1420.
First Preferred 7 % Cumulative Stock, preferred both as to assets and cumula¬
tive semi-annual dividends, and redeemable in whole or in part at $115
share.
The company will agree that no mortgage or other Indebted¬
maturing later than one year after being incurred shall be created
by it without consent of two-thirds in amount of outstanding 1st pref.
stock. Total original issue (see offering, V. 108, p. 2029)__$10,000,000
per
ness
Second Preferred Stock.—6%
1916.
to be $10,000,000
of 7% cum. first pref. stock, $2,000,000 of 6% non-cum. 2d pref. stock, and
$1,000,000 of common stock; all of this stock to be issued as fully paid for
the assets (or until such transfer the $1,000,000 stock) of the old company,
subject to
1917.
1,000
920
$98,102,858 $87,089,271
Net income
*10,361,557 x$7,088,716 x$9,252,349
$8,713,445
Preferred dividend
$875,000
$875,000
$892,500
$927,500
Common dividends
4.000,000 1
4,000,000
4,000,000
3,875,000
Prem. on pref. stock, &c.
120,016
118,626
Balance, surplus
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
identified with the management.
In April 1919 owned about 97% of total
stock owned of the old company.
Y. 108, p. 1733, 2029.
New acquisitions
and products manufactured in 1919, see v. 110, p. 1097.
1918.
No. of stores Dec. 31-—
1,081
1,039
Net sales
$119,496,107$107,179,411
non-cumulative.
Original issue.. $2,000,000
Common Stock.—Alone to have voting powers, except that if the full cumu¬
lative dividends on the 1st pref. stock be unpaid and shall have at any
time accumulated in excess of 7%, the 1st pref. stock shall have full
voting powers except as to the redemption of the said first preferred stock.
Original issue
$1,000,000
WORTHINGTON 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. 531, 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, &c., of the
Epping-Carpenter
Pump Co., Pittsburgh.
The plant will be operated as the Epping-Carpenter
Works.
V. 109. p. 1280.
STOCK—VOTING TRUST.—Lewis L.
Clarke, Elisha Walker, Percy
are voting trustees for all
Jackson, R. Walter Leigh and Charles H. Sabln
Btock for
a
period of five years from April 1 1916.
Class A
P*Under the plan $7,500,000 par value of the first pref. stock of the new co.
will be delivered to the stockhelders of the old company in exchange for
their stock in the latter.
That is, each stockholder of the old co. will be
entitled to receive for each share of stock now held by him 7 lA shares of the
new first
pref. stock of $100 each.
The balance of the original issue of stock of the new co., namely $2,500,-
000 of 1st pref. stock, $2,000,000 of non-cum. 6 % 2d pref. stock and $1,000.000 of common stock, will be delivered to Kidder, Peabody & Co. and their
associates upon completion of the arrangements for the contribution of
$3,500,000 of new capital in cash as above stated.
Stockholders were per¬
mitted to participate in this financing under certain terms. V. 107, p. 2195.
a
On Dec. 31 1919 $4,407,167 Class A stock was reserved for additional
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 $780,000
common stock (balance of $1,500,000) was reserved under reorg. plan to
enlist aid of
DIVS.—Initial div. of 3% on 2d pref. stock was paid Apr. 15 1920.
REPORT.—For 1919, in full, in V. 110, p. 1097, showed; Total net
earnings after depreciation, $4,204,023; est. Fed. & State taxes, &c.,
$1,200,000; net income, $3,004,023; proportion applying to period prior to
incorp., $819,335; proportion applying to stockholders of W. R. A. Co.
other than Winchester Co., $95,000; 1st pref. div.
(3K%), $341,414;
$1,748,274.
surplus,
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 to assets and divs.,
except that the rate of dividend remains at 6%.
to
at
W.)
WOOLWORTH
CO.—ORGANIZATION .—Incorporated
In
Acquired the business of F. W. Woolworth & Co.,
New York Deo. 15 1911.
U.
8.
and Canada.
stores in
England.
The F.
W.
See V. 94. p.
principal and interest of
REPORT.—For cal.
1080, shows:
5,284,105
income
Int., adjust, of foreign invest., &c—
»
Transferred to
-
27,041
-—
1,500,000
reserve
1917.
$6,254,571
317,349
1,504,857
(7)391,498
(6)619,300(4^)464,475
1,267,364
1,500,000
$746,266
$859,611
$2,076,392
Dec. 31- $4,352,738
$3,606,472
$2,746,861
Balance
(controlled) operates
567; V. 97. p. 449; V. 107. p. 2482.
i9i8.
$7,630,686
492,912
4,000,000
(7)391,498
-
mortgage
consent of at least
Increased without the consent of
any
p.
Federal taxes
2,000,000
Divs. on class "A" pref. stock_-->.(7%)391,498
Divs. on class "B" pref. stock—_.(6%)619,300
Woolworth & Co.
or encumbrance shad be created without the
three-quarters of each class of stock, nor the pref. stock
Holly Mfg. Co. 1st 5s.
$32,074,592 $43,443,486 $28,407,699
Billings to customers
Total profit and loss surp.
STOCK,—No
new
yehr 1919, in V. 110,
1919.
Gross
S. H. Knox & Co., F. M. Kirby & Co.. E. P. Charlton & Co., the 5 and 10
cent store business of C. S. Woolworth, W. H
Moore and W. H. Moore &
Son and the controlling Interest in F. W. Woolworth & Co., Ltd., of Great
Britain.
In April 1920 was operating 1,120 5 and 10-cent stores in the
,
BONDS.—No mortgage except on vote of two-thirds of each class of stk.
Guarantees
office, New Haven, Conn.—(V. 108, p. 886,1615,1733,1818, 2029; V. 110,
p. 772, 1079, 1097, 1328.)
interests.
July 1 1916 to Apr. 1 1920, incl., 1?*%
quar. (7% p. a.)
On Class B, July 1 1917 to Apr. 1 1920, incl., 1^%
quar.
See V 104, p. 2562.
Initial div. on common stock of 1A% quar.
was paid Apr.
15 1920.
OFFICERS.—T. G. Bennett, Chairman; J. E. Otterson, Pres.; D. W.
Weeks, J. L. Ackerson, V.-Pres.; R. E. Anderson, Sec. & Treas.
Main
(F.
new
DIVIDENDS—On Class A,
two-thirds of each class.
The whole
or
Unfilled orders
on
Dec. 31
on
hand Dec. 31
1919, $8,784,542, against $26,161,859
1918.
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 voting power except in case of default In payment of
three quarterly dividends.
V. 94, p. 567.
Pref. stock auth. and issued,
(Dec. 31 1919) $15,000,000; retired and canceled, $2,500,000; in treasury
Dec. 31 1919 for retirement, $1,186,000; outstanding, $11,314,000.
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
dividends
as
surplus warrants.
for future development and further stock
The plan to reduce the authorized pref.
stock from $15,000,000 to $12,000,000 was approved.
To carry
visions of the reduction the company will on July 1 1920 retire
the outstanding
out the pro¬
$500,000 of
preferred stock.
In addition to this the company has
$700,000 preferred in its treasury which will later be retired in accordance
with the provisions of its charter.
DIVIDENDS.
1912. 1913. 1914. 1915. 1916.
1917 to June 1919.
On common.
2%
5H
6
6J£
7H
8% p. a. (2% Q.-M.)
Also paid a stock dividend of 50% on June 1 1920.
DIRECTORS—C. P. Coleman
(Pres.)/Charles H. Sabin, A. W. Bur-
chard. Elisha Walker, Edward H. Wells, Lewis L. Clarke, T. Frank Man-
ville, R. Walter Leigh, Harrison Williams, J. E. Sague (V.-P.),
schild, Percy Jackson, H. Esk Moller.
The Secretary is C.
Treas., W. H. Baumes.
L. F. Roth¬
N. Barney;
N. Y. office, 115 B'way.—(V. 110, p. 977,1080.)
WRIGHT-MARTIN
AIRCRAFT CORP.—(V. 108, p.
287, 788, 1187, 1374, 1615, 1707; V. 110, p. 175.)
282.
2249;
V. 109, p.
WM. WRIGLEY, JR., CO.—(V. 109. p. 987.)
YALE
& TOWNE
CO., STAMFORD, CONN.—(Office
Conn.)(V. 109, p. 688.1707; V. 110, p. 977, 1096,1195.)
Stamford,
YOUNGSTOWN SHEET & TUBE CO.—(V. 110, p. 369, 666, 977.
1858, 1983.)
YUKON GOLD CO., NEW YORK.—(V. 108. p. 487; V. 110, p. 1543.)
Surplus
CapUal
undivided
Companies.
Par
Amount.
$
New York.
2America-a— 100
Am. Exch—. 100
100
Atlantic
Bronx Bor.o. 100
100
Bronx
150.000
200.000
200.000
300.000
100.000
-
Bryant Park a 100
Butch & Drov 25
OentfMerc_fl 100
100 P15000 000
7,000.000
Chat A Phe'x 100
400,000
Chelsea Ex_a 100
(/Chemical— 100 3,000.000
Chase
30
28 Jan. '20.
/14
6,483,700
1,069,700
1,615,800
Srti
61,300
6 Jan. *20.
6
3 None Jan. '20.
4 Dec.31'19.
8
146,100
162,500
68,200
22,227,300
7,272,400
120,500
10,151,500
15
None None
100
600,000 1,332,000
914,600
Columbia a— 100 1.000.000
100 25.000.000 31,040,900
Commerce
967,900
200.000
Oom'lEx.a.. 100
400.000
795.700
Comm'w'h
a 100
s
10
6
(16) Europe _a See Bank of It
100 §1,000,000
Fifth Ave.a. 100
tt>500,000
100 10,000,000
First
First Security 100 10,000,000
Fifth
100
1.000.000
100 (18) 500.000
Garfield
Gotham
Grace(W.R.)
100
Co _o
Green wlch.a. 100
100
Hanover
100
Harriman
Industrial
100
100
_a.
Imp. & Trad.
Internat.a— 100
(19)Irving
100
100
..
Liberty
100
Lincoln
fManhat'n.a 60
Mech & Met. 100
f Merchants'- 100
Metropol'n.o 100
100
Mutual, a
500,000
1500.000
3,000,000
1,000,000
1,000,000
1,500,000
500,000
9,000,000
5,000,000
1,000,000
2.879.900
*9,000,000
3,000,000
2,000.000
200,000
100
Nat Amer
New Neth.a. 100
100
New York
N Y County- 100
50
Pacific-a....
Park
.100
-
*ProdExch_a 100
Progress .a— 100
100
Public
(16)Repub'c a 100
Seaboard
100
Second
Standard.a
100
100
State.a
100
3
15ft Mar31'20 3q
Dec.31'19. 6/
15
/10
in Apr. '20.2xAu
'20.15m
20
10
Jan.
20
10 May'20.
Feb.'20.
n23
"A May *20.
5
3Yt
5
12
11 Jan. '20.
7
731,800
8,776,900
38,400
101,600 J
J
&
4 None Jan. '20.
J
&
796,400 J
epublic
620,500
Q—J
2,348,500
35,505,500
Q—J
1,478" 200 Q—M
545,900 Q—J
(w) Apr.'20.
(e)
25 (2)30 Apr. '20.
3
8 Apr. '20.
3t
Jan. '20.
4
16 Apr. '20.
4
32 (5)32 Apr. '20.
10 Jan. '20.
10
8
5
See note (9)
12
24 Jan. '20.
3
6 Jan. '20.
Dec. 22'19
24
6
.
12 Apr. '20.
3
(6,18 Apr. *20. 4%
May'20. 2 K
Apr. '20.
6
/20
19
Apr. '20.
5
8
8 Mar.27'20 31[
10
8 Apr. '20. 2%
20
22 Apr. '20.
by
Apr. 21'20 V.110,p.1717
8
8 Apr. '20.
5k
d 25
5
/20 Apr. '20.
12
20
10
%
j
Q—J
Q—J
500,000 Beg.bus
&
O
675,700 A
Q ■ J
7,040,700
&
10
J None None Jan. '17.
384,200 J
F
1,697,400
(8)16
/10 May'20. 4(8
1,000,000
600,000
2,000,000
1,000,000
1,000,000
5,000.000 21.582,900
2,000,000 1.456,800 Q-J
32,900 Beg. b
200,000
1,000,000 2,835.100 Q-M 31
&
J
150,000
216,600 J
Q—J
1.000.000 4,395,800
1,000,000 4,450,400 Q-J
151.200 Beg. bu
100,000
&
J
(I)2000000 1,508,000 J
8-
1384. 825.
110, p.
V.
d33
130
19
us.
8
12
5
5
12
4
Dec31'19.23i
3
12 Apr.'20.
12 Apr. '20.
12
Surplus
A
undivided
Capital.
Companies.
Dividends paid in
1918 and 1919
and also last dividend.
profits on
market val
Feb. 28 '20.
Pan
Amount.
Bankers
1919. 1918. Last paid.
Period
100 *20000,000 18,547,600
%
$
American
$
100
Npw York.
%
27*19
327,700 Beg.bus Jan.
1,000,000
See note r
20 Apr. '20.
5
11 Apr.'20. 5%
Q20 616 A Mar.31'20. 4
20
Cent Union._ 100 12,600,000 17,861,500
Q—J
Columbia
100
7,453,100 Q—M30
5,000,000
22
100 rn 500,000
233,800 Beg.bus Nov. 1906.
J—D
11 7 Mar31'202)4
22%
500,000
312,800
Corporation,. 100
2,008,000 Q—M30
f 17
g 16 Mar.30*20. 3
Empire
„j_ 100 2,000,000
20 Mar.31'20.4d
100 n12000000 15,662,100 Q—M30
/25
Equitable
20
Farm L & Tr 100
18 May '20.
5
Q— F
5,000,000 10,633,900
oil
610 Mar31'20.2H
100
Fidelity
1,000,000 1,367,300 Q-M31
76
612
&
J
Fulton
646,900 J
100
500.000
014 Jan. '20.
20
20 Mar.31'20. 5
100 25.000,000 31,607,700 Q—M31
Guaranty
610
8 Mar31'20.2H
Hudson
695,000 Q—M31
100
500,000
2
8 7 1-3 Jan. '20.
100
Q—J
3,000,000 1,642,200
tal Disc & Tr 100
430,000 Beg.bus Nov. 11*18 V.109,p.141
500,000
5
5 Apr. '20.11%
LawTitle&Tr 100
Q—J
4,000,000 5,994,000
Q—F
4
4 May '20.
Lincoln
1
100 el ,000,000
925,500
Mercantile
100
952,400
Q—J
1,000,000
Apr. '20.
Is
24 Mar.31'20. 4
Metropolitan 100 2,000,000 3,355,200 Q—M31 ""22
25
45
NYLifel&Tr 100
45 Dec. '19.
1,000,000 4,115,900 -J&D
32
32 Mar.31'20. 8
New York
100
3,000,000 11,256,100 Q—W31
uScandinav'n 100
10 Sep30'19.2H
(u)
1.000,000
Q—M
Title Gu & Tr 100 q 5,000 000 12,906,600 Q—M31 ""20
20 Mar31'20. bd
U S M &Tr'st 100
24
24 Apr.T'20.
6
2,000,000 4.803,800 Q—M31
25
United States 100
&
J
50
50 Jan. '20.
2,000,000 14,726,900 J
Brooklyn.
630
100
Brooklyn
1,500,000 2,504,200
Q—J
/25 Apr. '20.
t Franklin
12
100
12 Mar.31'20.
1,204,600 Q-M 31
1.000,000
614
Hamilton
12 May '20.
100
1,023,800
Q—F
500,000
28
100
24 May'20.
2,774,300
Q—F
Kings County
500,000
8
Manufac'rs
7 Apr. *20.
100
2,000,000 2,014,900 Q—J
16
1,COO,100 Q-M 31
ol6 May31'20.
100 0 1,200,000
Peoples
Commercial
_
? Irving
.
_
—
3s
19V.109p.43
18
Au g.
8
s.
Apr.'20.6(10
13 Apr. *20.
1919.
11 Mar.31'20.
ept.8
(14) Includes extra div. of 3%.
BROOKLYN TRUST COMPANIES.
by
Apr. '20.
12 Mar.31 *20.
$19
$3;
&
2%
6
5
8
2,910.400
691,700
1920.
NEW YORK AND
8
&
J
8,651,800 J
337,400 J&D 31
10,340,400
Q—-J
7,161,100
2,089,300
10,179,100
j
20
25
$15
&
J
1,017,800 J
1,878,800
Q—J
Q—J
19,529,600
&
J
1,925,100 J
506.300 Beg.bus
13,679,300
12 Apr.'20.
12
8=J
April
(16) Paid in May 1920 regular dividend of 3% and 7% extra; in Feb. 1920
(16) Bank of Republic was formerly the Bank
of Europe; name changed in 1920.
(17) Proposed increase in capital from
$1,000,000 to $1,500,000 ratified Jan. 13 1920.
V. 110, p. 434, 138.
(18) Increase in capital from $500,000 to $1,500,000 voted April 8 1920 to
become effective Oct. 1 1920.
V. 110, p. 1611.
(19) Effective Apr. 19
1920 the Irving Nat. Bank and the Irving Trust Co. were consolidated
under the name of the Irving Nat. Bank of N. Y., the Irving Trust Co.
having previously taken out a charter under the name of the New York
National Irving Bank.
V. 110, p. 1718, 1053, 219.
(20) Capital to be
increased from $100,000 to $200,000.
See Chronicle of May 29 1920.
3% regular and 3% extra.
6
4Yx
10
_
Cosmopol'n a 100 (20) 100.000
100
100,000
1.000,000
East River.. 100
in
10/ Apr. '20.
/10
-
Colonial.a
Apr. '17.
15 May '20.
13 h Apr. '20.
Jan'20.1 2-3o
Jan. '20.
3
21
/12%
2161.
(10) Paid in Jan. 1920 6% regular and a special dividend of 10%.
(11) The
Tradesmens Bank was formerly the Westchester Ave. Bank, the name
having been changed on Feb. 11 1920 and the capital increased as of Mar. 1
1920 from $100,000 to $200,000.
The Columbia Bank purchased control
16 Apr. *20.
12 Apr. '20.
16
100
3.000.000 3,946,300
(/Citizens'
100 25,000,000 58,875,200
City
City Co. Nat. 100 10.000.000
100
Coal & Iron.
1,500,000 1.580", 100
Cuba(InNY)a
7
Apr. '20.
41
Jan. '20.6(14)
24 May 2010(15)
i32
1914. May V. 98, p.1580
None None July *15.
5
7
6 Jan. '20.
250.000
1,000,000
Continental a 100
Corn Exch _a 100 x\,620.000
162
m May'20.
10
®9
839,500
50,600
100.000
Latest.
Period. 1919. 1918.
6
S
7,289,100
1.500,000
5.000.000
1,000.000
1,500.000
250.000
Battery Park 100
Bowery _a—. 100
Bway Oent.a 100
..
profits,
p.
000 became effective Nov. 14 1919.
See V. 109, p. 1959, 1151.
the Manhattan Co.
and Merchants National Bank merged
Dividends.
A\
§ Increase in capital from $250,000 to $1,000,^ Bank of
(effective
March29 1920) under name of Bank of the Manhattan Co.
See V. 110, p.
1611, 1383, 1257; V. 109, p. 2234.
In Jan. 1920 the Bank of Long Island
was merged into the Bank of the Manhattan Co.
V. 110, p. 221, 139.
(1) As of March 1 1920 capital increased from $2,000,000 to $2,500,000.
(2) Ten per cent of this is extra and was paid in 3% Liberty Loan bonds.
(3) Paid in Jan. 1920, 3% regular and 2% extra.
(4) Paid in 1918 on Bank
of Manhattan Co. stock 8% on old capital and 12% and 3% extra on
new
capital.
(5) Includes extra dividends of 8% (2% each quarter).
(6) Paid in May 1918 a special dividend of $8 33 in connection with the
organization of the Liberty Securities Corporation.
(7) A special div. of
100% from surplus accumulated prior to Mar. 1 '13 was paid In Mar. 1918.
V. 106, p. 994, 269, 47.
(8) Paid extra dividend of 2% each quarter in
1919 and in Feb. and May 1920.
(9) See V. 109, p. 2409. 2326, 1243.
May 29 and V. 110,
BANKS.
BROOKLYN
NEW YORK AND
&
[VOL. 110.
BANKS-TRUST COS-INSURANCE COS.
244
6 Jan. '20.
6
Feb. '20.
6 Feb.'20.
2/
.
(ll)Trad'sma 100 (II)100 000
200,000
23d Ward.a. 100
Union Exeh. 100
1,000,000
125,000
Liberty.a 100
Un
Unl'd States a 100 (17)1.000000
100
Wash Hts.a
100,010
Westch Ave.a —s
100
Yorkville.a
Trades
ee
100
130,700
764,300
295,200
107,200
1,008,500
56,600
89,000
1,345,800
600.000
Montauk.a.. 100
Municipal, a. 100
100
Nassau
North Side.a 100
100
People's
Ridgewood.. 100
a
banks,
c
one
&
22 Mar.31'20.
5
dllf
/12
Dec.31'19.
3
*10
Q—J
/f
Apr. '20.2 YiU
5/
/8 Jan. '20.
J
A
J
J
&
J None None Jan. '17.
Q—J
J
&
8
J
&
J V.
J
&
July '14.
each and
a
period,
e
2
Apr. '20. 3(3)
5/
.Jan. '20.
4
4 Jan. '20.
2
/12
&
262,500 J
240,100 J
2t
.2'19 s.Sep V. 109, p. 952
Beg. bu
Q—J
268,900 J
2
8 Apr. '20.
J None None
*7 Jan. '20.
mo
7
and
Feb. 28 1920 for
Decrease due to change in dividend period,
due to change in dividend
ot 12
J
b May 4 1920 for national banks
State banks,
State
*30
J
670,800 Q-M 31
200,000
200,000
1,600,000
100,000
200,000
1,000.000
200,000
200,000
100.000
Homestead.o 100
50
Mechanics.a.
Ban k
mens
200,000
Greenpoint.. 100
First
3
1
200.000
Brooklyn.
Coney Isl'd.a 100
8
6
115,400
Q—F
& A
161.100 F
8 Dec.31'19. 5
10
1,571,800 J & D31
0o
25,000 Beg.bus Feb. 12'20 V. 110,p.738
&
J None
20 Apr. '20. 2
476,700 J
12
444,000
12 Apr. '20.
Q-J
d Increase
Paid in 1919 three quarterly dividends
special dividend of 55%
on
dividend of 6% on new capital of $500,000.
old capital of $200,000 and
/Includes extra div. of 2%.
Stockholders of Chemical and Citizens National banks voted May 25 to
consolidate (consolidation effective May 29 '20) under name of Chemical
g
National Bank, and capital of latter to be increased to
"Chronicle" of May 29 1920 and V.
div.
of 7%.
p.
i Includes extra div. of 10%.
1Yi%
regular and
In Jan.
extra.
k Includes extra div. of 1
m
110,
%.
regular
NEW YORK AND BROOKLYN FIRE INSURANCE COMPANIES.
and
1920 2%%
A %
Capital.
Companies.
Includes extra divs. of 4%.
Amount.
Par
extra.
$
On account
Amer. Alliance- 100
1.000,000
100
City of N Y
Commonwealth 100
a600,000
500,000
n
dividend of 1 2-3% in Jan. 1920.
V. 109,
000 to $15,000,000.
p
o
Stockholders of Chase
p.
2408.
q Paid in Jan. 1920 3% regular and
Six per cent of this is extra; also paid
a
stock dividend of 25%
V. 107, p. 371.
s Includes extra dividends of 3%.
t First
1 dividend at quarterly rate.
Dividend period changed from J. & J. to Q.-J.
Paid in Jan. 1919 a semi-annual dividend of 8% and 2% extra,
u Paid in
Sept. 16 1918.
Jan. 1920 regular dividend 2%% and 2%
cent of this is extra,
w
extra,
v
Four and one-half per
Capital increased in May 1918 from $100,000
to
$200,000 (V. 106, p. 2092). and again in May 1919 to $500,000 (V. 108. p.
Paid dividend in 1918 of 50% on old capital and 25% reg. and 55%
1997).
America.
Co. consolidated with Liberty Nat.
See
National Bank on Dec. 26 1919 authorized increase in capital from $10,000,-
r
merged (merger effective May 1 1920) under name of the Bank of
See V. 110, p. 1822, 1717, 1498, 1257.
u Scandinavian Trust
Bank in Oct. 1919.
V. 109, p. 1507,
1051, 847.
0The stockholders of the Peoples Trust Co. voted Feb. 11
1920 to increase capital from $1,200,000 to $1,500,000, increase becoming
effective April 1 1920.
V. 110, p. 738, 530.
were
fiscal year to Dec. 31 and dividend period from M. & N. to
J. & J. paid a
3% extra,
dend of 5%.
e Stockholders voted May 17 to increase capital from $1,000,000 to $2,000,000, increase to be effective June 17 1920.
V. 110, p. 2161.
/ Includes extra div. of 5%.
g Includes extra div. of 4%.
h Includes extra
div. of 10%.
i Stockholders of Bankers Trust Co. voted Dec. 3 1919 to
increase capital from $15,000,000 to $20,000,000.
V. 109, p. 2141, 1958.
1 Paid on Jan. 1 1920 an extra dividend of 1%.
m Stockholders of Com¬
mercial Trust Co. voted Jan. 20 1920 to increase capital from $500,000 to
$1,000,000.
V. 110, p. 434.
n Stockholders of Equitable Trust Co. voted
Dec. 24 1919 to increase capital from $6,000,000 to $12,000,000.
V. 110,
p. 49; V. 109, p. 2234.
o Includes extra dividend of 1%.
p Effective
Apr. 19 1920 the Irving National Bank and the Irving Trust Co. were con¬
solidated under the name of the Irving National Bank of N. Y., the Irving
Trust Co. having previously taken out a charter under the name of the
New York National Irving Bank.
V. 110, p. 1718, 1053, 219.
q Stock¬
holders to vote on proposition of increasing capital from $5,000,000 to
$6,000,000.
See V. 110, p. 2160.
r In Sept. 1919 acquired control of the
Queens County Trust Co.
See Y. 109, p. 1335, 1508, 1051; V. 108, p. 450.
s First dividend,
t The Franklin Trust Co. and Bank of America of N. Y.
h Includes extra
i Paid in April
1920, 2A%
c
I Paid in Jan. 1920 4% regular and 4% extra.
Includes extra div. of 5%.
of change in
$4,500,000.
1822, 1153.
Decrease due to change in div. period.
6 Includes extra divs. of 2%.
Increase due to change in div. period,
d Paid in Jan. 1920 an extra divi¬
a
special on new capital,
voted Jan. 20 1920.
x
Increase in capital from $4,200,000 to $4,620,000
See V. 110, p. 331; V. 109.
p.
2141.
[/Paid in Jan.
Continental
25 10,000,000
Fidelity-Phenix 100
Globe & Rutgers 100
Great
American 100
Hamilton Fire15
Hanover
50
Net Surp.
Dec. 31
1919.
$
1,048, 346 el9lA
425, 596
1,015, 460 None
20
11,364, 829
30
7,270, 834
606
10,146 ,031
25 d
11,010 377
2,600,000
700,000
c 5.000.000
604, 423
12
200,000
929 ,368
10
1,000,000
25
6,000.000 15,825 ,966
800 ,095 None
1,000,000
20
1,000,000 3,109 ,648
25 u
fl.000,000 3,395 ,908
Home
100
Mercantile
Nat. Liberty
100
50
Niagara Fire
50
Northern
North River
100
500,000
374 ,847
25
1,000,000
25
20
400,000
2.000,000
700,000
1,400,000
10
1,000,000
Pacific Fire
Queen of Amer. 100
100
Stuyvesant
United
States--
Dividends.
1919. 1918. 1917. Last paid
.%
Apr. '20.
131 done Dec.31'19.
10
14
22
J46
30
10
10
25
10
5
3
*45 Mar.1920. 10
10
12 Jan. '20.
20 Jan.'20.
p36 Apr.
15
*20.
15
4c
n31 Apr. '20.
8 May '20.
3
10 Apr. '20. 2%
n26 Jan. '20.12 A
10
10 Mar.'20.
20 s22%
Jan.'20.12H$
25m
Jan. '20.
15m
7
7
7 Jan. '20.
3%
2,475 ,899
10
10
10 Mar.30'20.
583 ,500
15w
10
5,477 ,601
25
25
10 Ap21'20.2 AO
Jan.'20.
15
252 294 None None
421
Jan.
*17.
5
3
2,912 ,904
10
10
10 Feb. '20.
5
1,719 337
25m
u25
40 May'20.
66
1920 5%
Westchester
Trust
1920 from $600,000 to $1,000,000.
6 Includes extra dividends of 20%.
c Capital increased as of March 1 1920
from $5,000,000 to $10,000,000.
Paid first dividend of 4% April 15 1920
on new capital.
Jan. 1920 dividend of 6% on old capital of $5,600,000;
d One per cent of this is extra,
e Increase due to change in dividend period.
f Stockholders authorized on May 3 1920 increase in capital from $1,000,000
to $2,000,000, to become effective July 1 1920.
g April 1920 dividend was
an extra dividend.
Regular dividend of 5% was paid Jan. 201920.
h Paid
in May 1920, 5% and 1% extra and in Feb. 1920 5% and 1M% extra.
j Eight per cent of this is extra.
* Includes special dividend of 35%.
I Based on actual value of securities,
n One per cent of this was a Red Cross
dividend, i o Paid in 1917 7 A % on capital of $400,000;5% on capital (as
increased) of $1,000,000. p Two per cent of this was a Red Cross dividend.
gPaid in Jan. 1919 6% and 1% extra and dividend periods coanged to
quarterly,
s Two and one-half per cent of this is extra,
u Five per cent
name
regular and 10% extra,
z The Bank of America and the Franklin
Co. of Brooklyn were merged (merger effective May 1 1920) under
of the Bank of America.
dend of 11%
was
A stock dividend of 200% and
a
cash divi¬
paid to the holder of Bank of America stock of record
April 26 1920.
V. 110. p. 2160, 1822, 1717, 1498,1257.
* Stockholders of
Mechanics & Metals National Bank voted March 23 1920 to increase stock
from $6,000,000 to
made upon
$9,000,000.
A further increase of $1,000,000 is'to be
consolidation with the N. Y. Produce Exchange Bank.
The
latter has been converted from a State to a national institution for merger
purposes.
Meetings of stockholders of both institutions are to be held
June 15 to ratify consolidation.
in
Jan.
1920 2%
V. 110, p. 2160, 1822, 1258, 738.
regular dividend and 2%
extra,
from $500,000 to $800,000 became effective March 5 1920.
529.
A further increase to $1,000,000 was voted May 25.
t Paid
t Increase in capital
V. 110, p. 825,
See Curonicle of
a
Capital increased
of this is extra.
as
of March
1
245
INDEX.
May, 1920.]
INDEX TO COMPANIES-CONSOLIDATED, &c.
Companies not given in the tables in their alphabetical order may be found by reference to the index below.
will be Found under—
blame
Aberdeen A Asheboro
dirondaok
...
Midland
Dock
Central of New Jersey.
& Improvement
Columbia Graphophone Co.
American Graphophone Co
American Oilfields Co
American Pipe A Foundry
American Petroleum Co
California
California Petroleum Co.
U. S. Food Product Co.
American Spirits Manufacturing
American Steamship Co
Arkansas Oklahoma
RR
RR
Aroostook Valley (Electric)
Associated Merchants Co
Atlanta Knoxvllle
United States Steel Corporation.
Kansas City A Memphis.
Bangor A Aroostook RR.
.Canadian Pacific.
Associated Dry Goods Corporation.
Louisville & Nashville.
Atlanta Tennessee A Northern Ry.
Atlanta Birmingham A Atlantic.
Canadian Pacific.
Southern Ry.
& Western
Aroostook Northern
A Northern.-
Atlanta A Northern RR
Atlantic A Birmingham
Atlantic A Northwest
v
Atlantic & Yadkin RR.
Augusta Terminal
Austin
Petroleum Co.
U. S. Cast Iron Pipe A Foundry Co.
Co—
Charleston & Western Carolina Ry.
Ry
Houston A Texas Central.
A Northwestern
Baltimore
Terminal
*
A Valley
Clinton-Wright Wire Co
Clyde Line
Coal A Coke Ry
Coal A Iron Ry
Coal River A Western
Colorado
Western Maryland RR.
Delaware Lackawanna A Western.
Michigan Central.
Pacific Gas & Electric Co.
Baltimore A Harrlsburg RR
Bangor A Portland
Bay City A Battle Creek
Bay Counties Power Co
Bedford
of Bait.
Chicago Terre Haute A Southeastern.
Belt
Bellingham & Northern Ry. Co..—Chicago Milwaukee & St. Paul.
Bellows Falls Power Co
New England Company (Industrials).
Rutland RR.
Erie RR.
Bessemer Coal & Coke Co
Republic Iron & Steel Co.
Big Sandy
:
;
Chesapeake A Ohio.
Billings A East.Montana Power Co—Montana Power Co.
Blnghamton Gas Works
American Light A Traction.
Birmingham Belt
St. Louis & San Francisco.
Bluff Point Land Impt. Co
Delaware A Hudson Co.
Boonville Bridge
Missouri Kansas A Texas.
Boston A Lowell
Boston & Maine RR.
Boston A New York Air Line
New York New Haven A Hartford.
Boyer Valley
Chicago A North Western.
Brinson
Railway
Savannah & Atlanta Ry.
Brooklyn A Montauk
—Long Island.
Brunswick A Western
Atlantic Coast Line RR.
Buffalo & Susquehanna Iron Co
Rogers-Brown Iron Co.
Bennington & Rutland
Bergen County RR
Buffalo A Southwestern
Erie RR.
Bullfrog-Goldfield
Bullock Electric Manufacturing
Las Vegas A Tonopah.
Allis-Cbalmers Manufacturing Co.
Allls-Ohalmers Manufacturing Co.
Bullock Manufacturing Co
Burlington Cedar Rapids A Northern-Chicago Rock Island A Paclflo.
Burlington A Missouri River
Chicago Burlington A QuLncy.
Butte Electric & Power Co
Montana Power Co.
Illinois Central RR.
Galro Bridge Co
aid well & Northern
Carolina A Northwestern.
Calgary A Edmonton Ry
Canadian Pacific Ry.
Co-Pacific Gas A Electric Co.
Great Western Power Co.
Pacific Gas & Electric Co.
Northwestern Pacific.
Pennsylvania RR.
Grand Trunk Ry.
Canadian Northern Ry.
Canadian Northern Alberta Ky
Canadian Northern Ry.
Canadian Nor. Coal A Ore Dock
Canadian Northern Ry.
Canadian Northern Western Ry
Canadian Northern Ry.
Carnegie Co
United States Steel Corporation.
Carolina Central
j
Seaboard Air Line.
Carthage A Adirondack
New York Central RR.
Carthage Watertown A Sack. Harb
New York Central RR.
Cataract Power & Conduit Co
Buffalo General Electric Co.
Cedar Rapids Iowa Falls A Northwes.Chicago Rock Island A Pacific.
Cedars Rapids Mfg. & Power Co
Montreal Light, Iieat A Power.
Cedar Rapids A Missouri River
Chicago A North Western.
Central Arkansas A Eastern
St. Louis Southwestern.
Central Branch Ry
Missouri Pacific.
Central Branch Union Paclflo
Missouri Paclflo.
Central California Electric Co
Pacific Gas A Electric Co
Central District Tel. Co. of Pitts
Bell Tel. &o. of Pennsylvania.
Central Foundry Co
Iron Products Corporation.
Central Ga. RR. A Banking
Central or Georgia Ry.
Central Iron A Coal
Central Foundry.
Central N. Y. A Western
Pittsburgh Shawmut A Northern RR.
Central Ohio
Baltimore & Ohio.
California Central Gas A Electric
California Electric Generating Co
California Gas & Electric Corp
California Northwestern
Cambria & Clearfield
Canada Atlantic
Canadian National Ry
I
A Ohio River.
A
Atlantic Gulf A
West ind I on
Western Maryland
--Chesapeake A Ohio.
International A Great Northern
Bridge
Colorado Industrial Co
Colorado Fuel
Colorado-Utah Construction Co
Columbia & St. Louis
Denver Northwestern
Wabash.
Columbus Connecting A
Columbus (O.) Gas Co
Columbus Gas A Fuel
A
Iron.
A
Paolflo
Ry,
Terminal..-Norfolk A Western.
Ohio Cities Gas Co.
Ohio Cities Gas Co.
Co
Columbus A Hocking
Columbus A Toledo
jo
Baltimore A Ohio RR.
-
Valley
Hooking Valley.
Hocking Valley.
Mackay Cos.
Commonwealth-Edison Co
Boston & Maine RR.
New England Company.
Boston & Maine RR.
Commercial Cable Co
Commercial Nat. Safe Deposit Co
Concord & Montreal
Connecticut River Power Co
Connecticut River RR
Connellsvllle A Monong&hela RR
Consolidated Electric Co
United States Steel Corporation.
Great Western Power Co.
Gas Co. of Baltimore—Consol. Gas, Electrlo Light A Power.
Consolidated Power Co
Consol. Gas, EI. Lt. A P. Co. of Bait,
Consolidated
Consumers' Chemical
Virginia-Carolina Chemical Co
Corporation
People's Gas Lt. A Coke.
Hocking Valley.
Consumers' Gas
Continental Coal
Pennsylvania RR.
-
-
Baltimore^ Cumberland Valley RR.Consol. Gas El. Lt.RR.P.
Western Maryland A
altlmore Electric
A Ohio.
Ohio.
Wickwire Spencer Steel Corporation.
Baltimore
Cornwall & Lebanon RR
Crucible Fuel Co
American Woolen
Ayer Mills
---Toledo Columbus
—New York Central RR.
Cleveland
Alabama Steel & Shipbuilding Co
Tennessee Coal, Iron 3c RR. Co.
Albany & Northern
Georgia Southwestern 3c Gulf.
Alberta Ry. A Irrigation Co
Canadian Pacific Ry.
Algoma Central Terminals
Algoma Central A Hudson Bay Ry.
Algoma Steel Corporation
Lake Superior Corporation.
Allegheny Valley
Pennsylvania RR.
Almagordo A Sacramento Mtn. Ry__El Paso A Northeastern RR.
American Coal Products Co
Barrett Company.
American
j
Cleveland
Southern Railway Co.
Atlantic Coast Line RR.
Alabama Central
Alabama
,
Will Be Found Under-
Name
_
Cleveland Lorain A Wheeling—
A Marietta.-----
Cleveland Short Line
Norfolk Southern.
A Hudson.
Delaware
Cuba
Eastern
Cumberland
Valley Ry
River
Current
Missouri Kansas A Texas.
New York New Haven A
Dallas A Waco
anbury & Norwalk
Creek.;
Dawson Ry. A Coal Co
Hartford
Chicago A Eastern Illinois.
El Paso & Northeastern Co.
Danville A Grape
Delano
Crucible Steel Co.
Guantanamo A Western RR.
Pennsylvania RR.
Kansas City Fort Scott A Memphis.
-
-
Lehigh Valley.
Land
Minneapolis & St. Louis.
Chicago &North Western.
Western
Pere Marquette.
Detroit Rock Salt
International Salt Co.
Dexter & Newport RR
Maine Central Rlt.
Dexter & Piscataquis RR
Maine Central RR.
Dimmick Pipe Co
U. S. Cast Iron Pipe A Foundry Oo.
Distillers Securities Corporation-U. S. Food Products Co.
Dominion Line
---International Mercantile Marine Go.
Duluth Iialny Lake & Winnipeg Ry
Dulutn Winnipeg & Pacific Iiy.
Durham A Northern
Seaboard Air Line.
Dutchess County RR—
Central New England Ry.
Des Moines &
Fort Dodge
Des
Plalnes Valley
Detroit Grand Rapids A
-
—-
—
East River Gas
ast Maine RR
Maine CentralGas of
Consolidated RR.
-
East Tennessee Virginia
N. Y.
A Georgia—Southern Railway.
Detroit Edison.
Eastern of Minnesota
Great Northern.
Eastern Tel. & Tel. Co.Keystone Telephone Co.
Easton A Amboy—East.ANorthern.Lehlgh Valley.
Eastern Michigan
Edison
Publlo Service Corp. of Nor. IlllnoU.
Economy Light A Power
Edison Elec. 111. of
Brooklyn Edison Co.
Brooklyn
Consolidated Gas Co. of New York,
Co----------Pacific Gas & Electric Co.
Elizabeth River...
-----Norfolk A Portsmouth Belt Line.
Elk Horn Fuel Co
Elk Horn Coal Corporation.
Ellwood Short Line
Baltimore A Ohio.
El Paso & Rock Island Ry
El Paso A Northeastern Co.
Equitable Gas Light Co. (New York).Consolidated Gas of N. Y.
Edison Eleo.
111. of New York--
Edison Light & Power
Erie RR.
Erie RR.
Erie & Jersev
Essex Terminal Ry
Bessemer & Lake Erie.
Maine Central RR.
Belt Ry
-.Chicago & Eastern Illinois RR.
Henderson A Nashville..Louisville A Nasnvllle.
Mt. Carmel A Nor. Ry—Cleve. Cine. Chicago A St. Louis.
A Terre Haute
Chicago A Eastern Illinois
Euclid Equipment
Trust
...
European A North American
Evansvllle
Evansvllle
Evansvllle
Evansvllle
-
Central Ontario Ry
Central Petroleum
Central Terminal RR
Canadian Northern Ry.
—
Central Union Gas
Central
Vermont
Transportation
Charleston Northern
Charleston
A Savannah
Chartlera
Chateaugay Ore A Iron
Chatham
Delaware & Hudson Co.
Co
A Lebanon Valley
Chattanooga Rome
A Southern
Chevrolet Motor Co
Chicago A Atlantic
Chicago Dock
Texas Company.
Minneapolis St. Paul A Sault Ste. M
Consolidated Gas of N. Y.
Central Vermont.
Seaboard Air Line.
Atlantic Coast Line RR.
Pittsburgh Cln. Chicago A St. Louis.
Terminal Co
Rutland RR.
Central of Georgia.
General Motors Corporation.
Erie RR.
.Chicago Utilities.
Commonwealth Edison Co.
Chicago Edison Co
Chicago Gas Light A Coke
People's Gas L. A C.
Chicago A Grand Trunk Ry
Grand Trunk Western Ry.
Chicago A Great Western
Bait. A Ohio Chicago Terminal RR.
Chicago Hammond A Western.Indiana Harbor Belt.
Chicago <5c Indiana Coal
Chicago A Eastern Illinois.
Chicago Indiana A Southern
New York Central RR.
Chicago Ind. A St. Louis Short Line-Cleveland Cln. Chic. A St. Louis.
Chicago Kalamazoo & Saginaw.Michigan Central.
Chicago Milwaukee*; Puget. Sound—Chicago Milwaukee A St. Paul.
Chicago St. Louis A New Orleans——Illinois Central.
Chicago St. Louis A Pittsburgh
Pittsburgh Cincinnati Chlo. A St. L.
Chicago Subway
Chicago Utilities.
Chicago Wisconsin A Minnesota
Wisconsin Central.
Choctaw & Memphis-..
Chicago Rock Island A Pacfio.
Choctaw Oklahoma A Gulf
Chicago Rock Island A Pacific.
Cicero Gas Co
Cincinnati
Cincinnati
Cincinnati
Cincinnati
jl
Gas Transportation
Co
A Muskingum Valley
Cincinnati Sandusky A Cleveland
Cincinnati
Public Service Corp. of Nor. Illinois.
Columbia Gas & Electric Co.
Hamilton A Dayton
Baltimore A Ohio RR.
Ind. St. Louis A Chicago .Cleveland Cln. Chicago
Southern..
Cincinnati Wabash A Michigan
Cleveland Akron & Cincinnati.
Cleveland Cln. Chicago A St. Louis.
Cincinnati New Orleans A Texas Pao.
Ry.-Cleveland Cine. Chic. A St. L. Ry.
City Electric Co. of San Franoisco
Great Western
Civic Investment A Industrial Corp.Montreal Lt.,
Power Co.
Ht. A Power Consol.
Mercantile Stores Corporation.
(H. B.) Claflln Co
Cleveland Akron A Columbus
Clearfield A Jefferson
Cleveland Columbus Cln. A
A St. Louis.
Ind
Cleveland Akron A Cincinnati Ry,
Pennsylvania RR.
Cleveland Cln. Chicago &St. Louk«
Consolidation Coal Co,
Chicago Milwaukee A
FairmontSouthern
Coal.
argo A
Fitchburg RR.
Flint A Pere Marquette
Florida Central A Peninsular
Florida Southern.-!
-
St. Paul,
Boston & Maine RR.
Pere Marquette.
Seaboard Air LiUe Ry.
Atlantic Coast Line RR.
Florida West Shore1
-Seaboard Air Line.
Fort Worth A New Orleans
Houston A Texas Central.
Fort Worth A Rio Grande..
St. Louis—San Franclsoo.
Fremont Elkhorn A Missouri Valley-Chicago A North Western
Frick II. O. Co
United States Steel Corporation,
Genesee A Alabama
eorgla River RR—
Georgia A Alabama Terminal
Georgia Carolina A Northern
Georgia Paclflo
Gila Valley Globe A Northern
Glrard Point Storage
Ry
Erie RR. Air Line Ry.
Seaboard
Seaboard Air Line Ry.
Seaboard Air Line Ry.
--.Southern Railway.
Arizona Eastern.
Pennsylvania RR.
Western Union Telegraph Oo.
Goshen
Erie RR.
Gouverneur A Oswegafcchie...—.—.New York Central RR.
Granby Mining A Smelting
American Zinc, Lead A Smelting.
Grand Rapids Gas Light
American Light A Traction
Grand River Valley
--.Michigan Central.
Gray's Point Terminal-.St. Louis Southwestern.
Great Falls Power Co
Montana Power Co.
Great Northern Ry. of Canada
Canadian Northern Quebec.
Great Western Ry. of Canada
Grand Trunk Ry.
Greeley-Hudson Securities Corp
Hudson Companies (RRs.).
Greeley Square Realty Co
Hudson Companies (RRs.).
Greenbrier Ry
Chesapeake A Onto.
Guatemala Central
International Rys. of Cent. Ameriok
Co
A Deckertown RR
Gold A Stock Telegraph
---
-----
Halcomb Steel Co
alifax A Southwestern
Ry
A Calumet
Hannibal A St. Joseph Ry
Harlem River A Portchester
Hancock
Crucible Steel Co.
Canadian Northern Ry.
Mineral Range.
Chicago Burlington A Qulncy RR.
New York New Haven A Hartford,
Lancaster.Pennsylvania RR.
Standard Milling Co.
Louisville & Nashville.
Hertford
Maine Central.
Hoboken Feriy
N Y. & Hoboken Ferry.
Hocking Coal Co
Minneapolis A St. Louis RR.
Hollidaysburgh Bedford A Cumb
Pennsylvania.
Hoiiy Manufacturing Co
Worthington Pump A Machinery Oo.
Holyoke & Weetfiekf RR
N. Y. N. H. A Hartfowl RR.
Home Long Distance Telephone Co..Pacific Telephone & Telegraph Go
Housatonic
New York New Haven A Hartford
Hudson Coal
Delaware A Hudson Co.
Huntington A Big Sandy
Baltimore & Ohio.
Hutchinson A Southern
Atchison Toneka A Santa Fe
Hydraulic Power Co.
Niagara Falls Power Co.
Harrlsburg Ports. Mt. J. A
Hecker-Jones-JewelI Co
Henderson Bridge
-
,
w
uI
-
Illinois Steel Oo
1 lino Is
Tunnel
United States Steel Corporation.
Chicago Utilities.
Imperial Rolling Stock
T.Canadian Northern.
Bloomlngton A Western
Peoria A Eastern.
Indiana Illinois & Iowa
—New York Central RR.
Indiana Steel Co
United States Steel Corporation.
Indiana Natural Gas A Oil
People's Gas Light A Coke.
Indianapolis Decatur A Western
Cincinnati Indianapolis A Western.
Indiana
246
[Vol. 110.
INDEX
Name.
Will Be Found Under—
Indianapolis A Louisville
Indianapolis A St. Louis
International Navigation
Interborough-Metropolitan Co
International Steam Pump Co
Chicago Indlanap. A
New Mexico Ry. A Coal
New Orleans Mobile A Chicago
Will Be Found Under—
El Paso A Nortneastern Co.
Gulf Mobile A Northern.
New Orleans Mobile A Texas
Louis. A Nash
Name,
Louisville.
Cleveland CIn. Chic. & St. Louis.
International Mercantile Marine
(N. O. A Mobile Div;
Interborough Consolidated Corp.
Worthlngton Pump A Machinery Co.
Iowa Central
Minneapolis A St. Louis.
Iowa Minnesota A Northwestern
.Chicago A North Western '
Irondaie Bancroft A Ottawa By--—.Canadian Northern Br.
Iroquois Iron Co
Steel A Tube Co. of America.
Newport A Cincinnati Bridge..
Louisville A Nashville.
Newport A Rlchford Ry.——
Connecticut A Pas&umpslc Ry.
New York Bay Extension—
—Long Island.
Jackson Lansing A Saginaw
amestovra Franklin A Clearfield.—Michigan Central.
New York Central.
New York A East River Gas Co—--Consolidated Gaa Co. of New York.
N. Y. Gas, El. Lt.. Ht. A Power
Consolidated Gas of New York.
New York Glucose
Corn Products.
N. Y. Central A Hudson River RR—New York Central RR.
New York A Cuba Mall S3. Co
Atlantic Gulf A West Indies 88. Co.
New York Elevated
Manhattan Elevated.
New York
Jamison Coal A Coke Co
Jollet
Baltimore A Ohio.
A Chicago..
Junction
Chicago A Alton.
..Pennsylvania.
—
Ifalamazoo A White Pigeon
IVankakee
Kansas
A MemphlsRy.
Memphis Ry. Bridge.-Kansas City Fort Scott A Memphis
Pacific
Missouri Kansas A Texas.
Kansas City A Southern.
City Pitts. A Gulf
Missouri Pacific Ry.
Chicago A Alton.
Kansas
Missouri
A
Colorado Pacific
Karpen Building
Kennebunk
A
Knox
A
Lincoln
Knoxvllle
Kolb
Brooklyn Edison Co.
Southern Ry.
Bakery
General Baking Co.
Bethlehem Steel Co.
Pere|Marquette
Lake Erie A Pittsburgh Ry
Lake Shore A Mich. Southern Ry
Lamson Consol. Store Service
Laramie Ilahn's Peak A Pacific
A Lake Erie Ry__
Navigation Electric Co
A New York...
A Susquehanna
Leroy A Caney Valley...
Lexington A Eastern Ry
Lexington A Frankfort
Leyland Line
Lehigh
Lehigh
Lehigh
Lehigh
Lehigh Valley RR.
Lehigh Coal A Navigation Co.
Lehigh Valley.
Lehigh Coal A Navigation.
Missouri Pacific.
Louisville A Nashville RR.
...Louisville A Nashv. (L. C. A Lex.)
International Mercantile Marine.
A Lake Erie
Carolina Cllnchfleld
Lincoln Park A Charlotte
Linde Air Products
A
Ohio.
Buffalo Rochester A Pittsburgh.
Union Carbide A Carbon Corp.
.
Little Falls A Dolgevllle Ry
New York Central RR.
Little Rock Bridge Co
Chicago Rock Island A Pacific Co.
Little Rock A Hot Springs Western..Missouri Pacific.
Little Rock Jet.—Lit. Rk. A Ft. Sm.Mlssourl Pacific.
Locomo. A Mach. Co. of Montreal
American Locomotive Co.
Long Dock Company
Erie RR.
Long Island A Flushing
;_Long Island.
Louisiana A Missouri River
...Chicago A Alton.
Louisville Cincinnati A Lexington
Louisville A Nashville.
Lousvllle A Frankfort
Louisville
Louisville & Nashville Terminal
Lowell A
A Nashv.—L. C.
..Louisville
Andover
Light A Traction.
Montana Power Co.
Atlantic Gulf A West Iudtes 8S. Co.
..Boston A Maine RR.
Southeastern...
Canadian Northern
Manitoba Southwest'n Colonization ..Canadian Pacific.
Manltoulln A North Shore Ry
Algoma Eastern Ry.
Manitowoc Gr'n Bay A Nor. West'n.Chlcago A North Western.
Manitoba
&
Mankato A New
Ulm
Chicago A North Western.
Mark Manufacturing Co
Steel A Tube Co. of America.
Marlin Arms Corporation
Marlin Rockwell Corporation.
Marquette Houghton A Ontonagon..Duluth Soutn Shore A Atlantlo
M&rshfleld A Southeastern RR
Wisconsin Central Ry.
Maryland Steel Co
Bethlehem Steel Co.
Massawlppl
Connecticut at Passumpslo.
McKeesport A Belle Vernon.
Plttsb. McKeesport A Youghloghen*
Memphis Paris A Gulf..
l
Memphis Dallas A Gulf,
Merchants'
Bridge
...1—..St. Louis Meroh. Bridge Term. RR
Metropolitan Gas Corporation
...Pacific Gas A Electric Co.
Mexican Central
National Railways of Mexico
...
.,
Mexican
Eastern
Mexican
International
Interoceanic of Mexico.
National Railways of Mexico.
—
Middlesex Valley RR
Lehigh Valley RR.
New York Susquehanna A Western
Y. Susquehanna A Western RR
...Cripple Creek Central.
United States Steel Corportlon.
Millen A Southwestern
Georgia A Florida.
i
Milwaukee Lake Shore A Western
Chicago A North Western.
Milwaukee A Northern
Chicago Milwaukee A St. Paul,
Milwaukee Sparta A North Western..Chicago A North Western.
Milwaukee & State Line...
Chicago A North Western
Minneapolis A Pacific
Mlnneap. St. P. A Sault Ste. Man
MInneap. Sault. Ste. Marie A Atl
Mlnneap. St P. A Sault Ste. Marie
Minneapolis Terminal
..Chicago Great Western.
Minneapolis Union.
Great Northern.
Midland of New Jersey
Midland RR
—
N.
Midland Terminal
Mifflin Equipment
—
....
Minnesota A Iowa
—
Minnesota A South Dakota....
Missouri Kansas A Eastern
Missouri Kansas A Oklahoma
Mobile A Bay Shore...
Mobile A Montgomery
Chicago A North Western.
.Chicago A North Western
Missouri Kansas A Texas
Missouri Kansas A Texas
.'..Mobile
Ry
Mohawk A Malone
Monon Coal
A
Ohio.
Route"_.
Montana Central RR
Montana
Power Transmission Co
Montauk Extension RR
Montreal A
Province Line Ry
Chicago Indlanap A Louisville.
Great Northern Ry.
Montana Power Co.
Long Island.
Central Vermont Ry.
Lehigh Valley RR.
Chicago A Eastern Illinois.
Mashvlllo Florence A Sheffield
*"ational Railroad of Mexico
National Leather Co
Louisville A Nashville.
National Railways of Mexloo.
National Starch
National Tube Co.
Corn Products Refining Co.
United States Steel Corporation.
Naugatuck
N. Y. N. H. A Hartford RR.
Swift A Ao.
Nebraska
Chicago Burlington A Qulncy.
Nevada A California RR
New Amsterdam Gas
Central Pacific Ry.
Consolidated Gas of New York
Canadian Pacific.
CorneHa
Copper Co
cean
Ogden Gas
Ogdensburg A Lake Champlaln
Ogdensburg Terminal Ry
Ohio Indiana A Western
International Mercantile Marine Co.
Central of Georgia Ry.
.People's Gas Light A Coke.
Rutland RR.
Rutland RR.
Peoria A Eastern.
Ohio A Little Kanawha
Baltimore A Ohio
Ohio River
Baltimore A Ohio.
One Ninety-Five Broadway
Ontario A Quebec
American Telephone A Teleg. Oo.
-Canadian Pacific.
Central Pacific Ry.
Oregon-Wash. RR. A Nav. Co.
St. Louis San Francisco
Pacific Gas Improvement Co
aclfic Light & Power Corp
Pacific Gas A Electric Co.
Southern California Edison
Pacific RR. of Missouri
Paducab A Memphis Ry
Pan-American RR
...
-
Paragould Southeastern.....
Passaic A New York RR
"
Penn-Mary Coal
Pennsylvania Coal A Coke
Pennsylvania A N. Y. Canal
Pennsylvania A Northwestern
Pennsylvania Steel Co
Pennsylvania Utilities Co
Penobscot Shore Line
Pensacola A
Peoria
Canadian Pacific.
Sharon Ry.
Calumet & Arizona Copper Co.
Co.
Missouri Pacific Ry.
Louisville A Nashville RR.
National Railway of Mexico.
St. Louis Southwestern.
N. Y. Susquehanna A Western RR.Hi
...Pennsylvania Steel.
Clearfield Bituminous Coal Corp.
Lehigh Valley.
Pennsylvania RR.
Bethlehem Steel Oo.
General Gas A Electrle Oo.
Maine Central.
Atlantic
Louisville A Nashville.
Northwestern
A
Piedmont A Cumberland RR
-Chicago A North Western
Atlantic Coast Line RR.
Galena Signal Oil.
Pennsylvania.
Reading Company.
Phlla. Baltimore A Washington SR.
Western Maryland RR.
Pine Bluff A Western—
.St. Louis Iron Mtn.
Petersburg
Petroleum
Refining Co
Philadelphia A Erie
Philadelphia A Reading
Phlla. Wilmington A Baltimore
A Southern.
Pine Creek
New
Pittsburgh
Pittsburgh
Pittsburgh
Pittsburgh
Cleveland A Toledo
..Baltimore A Ohio.
Coal, Dock A Wharf
Pittsburgh Coal Co.
Crucible Steel Co
....Crucible Steel Co. ot America,
Junction
Baltimore A Ohio
York
Central
RR.
Pittsburgh Lisbon A Western
Wheeling A Lake Erie RR.
Pittsburgh Newcastle A Lake Erie ..Baltimore A Ohio.
Pittsburgh Palnesville A Fairport
Baltimore A Ohio RR.
Pittsburgh Shenango A Lake Erie
Pittsburg Bessemer A Lake Erie
Pittsburgh Virginia A Charleston
Pennsylvania.
Pleasant Valley Coal
Denver A Rio Grande.
Port Wenworth Terminal Corp
Savannah A Atlanta Ry.
Portland A Ogdensburg
Portland A Rochester RR
Portland
(Me.) Union Station Co
Portsmouth Great
Falls
Telegraph Cable
Potomac Valley
Potter Ore
Pratt
A
Prescott
Whitney.
Portland
Terminal
Co.
A Maine.
Mackay Companies.
Western Maryland.
Republic Iron A Steel.
Niles-Bement-Pond Co.
A Eastern
A
Maine Central.
Maine Central RR.
A Conway ..Boston
Postal
...
—
Prospect Park A Coney Island RR
RR
Munising
Munlslng Marquette A Southeastern.
Muskegon Grand Rapids A Indiana-Grand Rapids A Indiana.
Mutual Electric Light Co
Pacific Gas A Electric Co.
Mutual Fuel Gas..
People's Gas Light A Coke.
Mutual Union Telegraph Co
Western Union Telegraph Co.
New
OceanicSteamship
Steam Navigation Co..
Princton
Central
Morris Caual Co
Mount Vernon Branch
New Brunswick
Crucible Steel Co. of America.
New York Central RR.
Louisville A Nashville RR.
Grand Trunk
New Brunswick Southern
New Castle & Shenango Valley
Norwalk Steel Co
Norwood A Montreal RR
New York
Montreal Warehousing
RR
.Southern Pacific RR.
-
Prest-O-LIte Co
Chicago Indianapolis A Louisville.
Monongahela River Oons. Coal A O.Plttsborgh Coal Co.
Monongahela Southern RR
..United States Steel Corporation.
Monon
California...
Northern Maine Seaport
Bangor A Aroostook.
Northern Mississippi River Pow. Co.Northern States Power Co
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 A Coke Co._Public Service Corp. of North. III.
Northwestern Telegraph Co..
Western Union Telegraph Co.
Northwestern Union
.Chicago A North Western.
A L
A Nashville.
American
-
.Niles-Bement-Pond Co.
Ozark A Cnerokee Central
N. Y. Susquehanna A Western RR
....
Niles Tool Works Co..
Oregon Eastern Ry
Oregon RR. A Navigation Oo
Boston A Maine RR.
A/facopln RR
IV*adlson Gas A Electric
Madison River Power Co
Mallory Line
Manchester A Lawrence
Niagara A Erie Power Co
Niagara Lockport A Ontario Pow. Co
Niagara Falls Hyd. Pow. A Mfg. Co—Hydraulic Pow. Co. of Niagara Falls.
Northern
New York Central RR.
New York Central RR.
American Pneumatic Service.
..Colorado Wyoming A Eastern
Canada Southern.
Leamington A St. Clair
Consolidated Gas Co. of New York,
Consolidated Gas Co. of New York,
.Long Island.
Norfolk A Carolina
Atlantic Coast Line RR.
Norfolk Terminal A Transportation..Chesapeake A Ohio.
Northeastern RR. of So. Carolina
Atlantic Coast Line RR.
North Shore Electric Co
.Public Service Corp. of Nor. Illinois
North Wisconsin
.Chic. St. Paul Minn. A Omaha.
Northern California Power Co
Pacific Gas & Electric Co.
...Maine Central.
Lackawanna Detroit River Co
ake Erie A Iron A Steel
Lick Creek
!*
Louisville A Nashvine
A Ohio
West Indies 88. Co.
New York New Haven A Hartrord
New York Central RR.
Westchester Lighting.-Consolidated Gas Co. of New York.
New York A Wilkes-Barre Coal
New York Susquehanna A Western.
Boston A Maine RR.
Kentucky Central
Kings County El. Lt. A Power Co
Atlantic Galf A
New York A Porto Rico SS. Co
New York Providence A Boston
New York A Putnam
New York A Queens El. Lt. A Pow
New York A Queens Gas Co
New York Cc Rockaway
New York A
Pacific.
Standard Oil Co. of Indiana.
Kennebunkport
Erie RR.
Consolidated Gas of New York.
New York A New Eng. Bost. Term..New York New Haven A Hartford.
New York A Northern
New York Central RR.
Illinois Central.
Kansas City Northwestern Ry
Kansas City St. Louis A Chicago
Hudson A Manhattan RR.
-
New York Mutual Gas
Kansas City Excelsior Spgs. A Nor..Wabash RR.
Kansas City Memphis A Birm. Ry..Kansas City Ft. Scott
Kansas City A
Kansas City A
Erie RR.
...
New York A Jersey RR
New York Lake Erie A Western
New York Central RR.
A Southwestern
Erie
A
Northwestern
Atchison
Union
Topeka A Santa Fe.
Carbide A Carbon Corp.
Chicago A North Western.
Long Island RR.
Providence A Springfield
Terminal
New York New Haven A Hartford.
Providence
New York New Haven A Hartford.
Public Service Bldg. Co. of Bait
Consol. Gas EI. L. A P. Co. of BoM,
Central
Qu'Appelle L'g La'e A Sask
Canadian Pacific
Canadian Northern
Quebec A Lake St. John Ry—
Canadian Northern Ry.
uebec
Raleigh A Augusta-Ral. A Gaston..Seaboard Air Line.
alelgh A Cape Fear
Norfolk Southern.
Raleigh A Southport
Norfolk Southern.
Raleigh A Southwestern
Chesapeake A Ohio.
Ravenswood Spencer A Glenvllle
Baltimore A Ohio.
Retsof Mining Co
International Salt Co.
Richmond A Allegheny Valley Ry—Chesapeake A Ohio Ry.
Richmond
A
Danville
Southern Railway,
Richmond A Mecklenburg RR
Southern Ry.
Richmond A Petersburg
Rio Grande Western
Atlantic Coaat Line RR
Risdon Iron Works
Rocnester A Pittsburg
Rock Island Ark.
..Denver A Rio Grande.
.United State* Steel Corporation.
Buffalo Rochester A Pittsburg.
A Louisiana
.Chicago Rock Island A Paciflo.
Rock Island Improvem't Equipm't-.Chicago Rock Island A Pacific.
Rock Island A Peoria Ry
.Chicago Rock Island A Pacific Ry.
Rocky Mt. Coal A Iron Co
Colorado Fuel A Iron Co.
Roland Park Electric A Water Co—Consol. Gas El.L. A Power Co., B»
Rome Water town A Ogdensburg
New York Central RR.
Rutland-Canadian
Rutland.
Rutland Toledo A Northern Ry
Chicago A Alton RR.
New England
New York New Haven <fc Hartford.
New
Sacramento Electric Gas AOo——Northern California Power Oo.
Ry
Pacific Gas A Electric Co.
acramento Valley Power
Grand Trunk Ry.
N. Y. N. H. A Hartford RR.
St. Clair Madison A St. Louis Belt..Missouri
England Elevating Ry
New England Navigation Co
New England Power Co
Newburg A New York...
New Haven
A
Derby—
New Haven A Northmapton RR
New England Company.
Erie RR.
..New York New Haven A Hartford.
N. Y. N. H. A Hartford RR.
St. Charles Bridge
St. Clair Furnace
Wabash.
Co
St. Clair Steel
St. Clair
Terminal RR
St. Joseph Gas
A Illinois Bridge A Belt
United States Steel Corporation.
United States Steel Corporation.
United States Steel Corporation
American Light A Traction
i
St. Paul
&
Texas & Pacific Coal Co
Texas Pacific Coal & Oil Co.
Toledo Canada Southern & Detroit ..Michigan Central.
Toledo & Cincinnati RR
Baltimore & Ohio.
Ry
Toledo
Walhonding Valley & Ohio..Toledo Columbus
Toronto Grey & Bruce
Traverse City RR
Northern Pacific.
Chicago 4; North Western.
Duluth.
St. Paul Eastern Grand Trunk
Under—
-Pitts. Cin. Chicago Texas. Louis Ry.
& 4c St.
..Missouri Kansas
exas
Union Bag 4c Paper Co.
Chicago Milwaukee & St. Paul
Co
Will be Found
Terre Haute 4s Indianapolis
& Oklahoma
Terminal Association of St. Louii
Mobile & Ohio RR.
Bridge
St. Louis 4c Cairo Ry
St. Louis Iron Mount'n & Southern-Missouri Paclflo System.
'
St. Louis Peoria So N. W. Ry
Chicago So North Western
St. Louis Wichita & Western.
St. Louis & San Francisco.
St. Maurice Paper
"St. Paul".
Name.
Will Be Found Under—
Canadian Pacific.
Name.
St. Lawrence & Ottawa
St. Louis
247
INDEX.
May, 1920.]
Troy
Boston
&
& Ohio River.
Canadian Paclflo.
...
Grand Rapids 4c Indiana.
Fitch burg.
...
Tunnel Railroad ol St. Louis
.....Terminal Ass'n of St. Louis.
St. Paul & Kansas City Short Line-.Chicago Rock Island & Paclflo.
St. Paul Gaslight
...American Light 4s Traction.
Turner
(J. Spencer)
International Cotton Mills Corp.
St. Paul Minneapolis & Manitoba..-Great Northern.
St. Paul So Northern Pacific
Northern Pacific
Onion Transportation Co
nion Switch & Signal Co
Westinghouse Air Brake Co.
Union Oil Co. Inc of California.
Ry.
United Cigar Manufacturers—
United Dry Goods Companies
Niagara Lockport 4; Ontario Pow.Co
...Atlantic Coast Line RR.
Pacific Gas & Electric Co.
San Francisco & San Joaquin Val
Atchison Topeka 6s Santa Fe.
San Pedro Los Angeles & Salt Lake—Los Angeles & Salt Lake RR.
Santa Fe Prescott 4s Phoenix
Atchison Topeka & Santa Fe.
Saranac 4; Lake Placid
Chateaugay & Lake Placid.
Sanlt Ste. Marie 4s Southwestern.—Chlo. St. Paul Minneap. & Omaha
Savannah Florida 4s Western.
Atlantic Coast Line RR.
Schenectady 4s Duanesburg
Delaware 4s Hudson. *
Sohoen Steel Wheel
United States Steel Corporation
Schuylkill River East Side
Baltimore 4s Ohio.
Schwarzschild 4c Sulzberger
—Wilson So Co.
Scioto Valley & New England
Norfolk 4s Western.
Seaboard & Roanoke------Seaboard Air Line.
Sea Coast
Atlantic City.
Sen Sen Chiclet Co.....
American Chicle Co.
Shade Gap
East Broad Top RR. 4c Coal Co.
Sharon Coke Co
..Union Steel Co.
Sherman Shreveport & Southern
Missouri Kansas 4s Texas
Shreveport Bridge 4s Terminal —
St. Louis Southwestern.
Silver Springs Ocala 4> Gulf-.
Atlantic Coast Line RR.
Sioux City & Paclflo
Chicago & North Western.
Sodus Bay 4s Southern
—
Eimira & Lake Ontario
Somerset Ry
...Maine Central.
South Carolina 4> Georgia
Southern Ry., Carolina Division.
South So North Alabama
Louisville So Nashville.
South Yuba Water Co
Pacific Gas 4c Electric Co.
Southeastern & St. Louis..
Louisville & Nashville.
Southern California Telephone
Pacific Telephone & Telegraph Co.
Southern Indiana
Chicago Terre Haute So Southeast'n
Southern Pacific Branch
Southern Paclflo RR.
Southern Sierraa Power Co
Nevada California Electric Corp.
Southwest Pennsylvania
Pennsylvania.
Southwestern Coal 4c Impt. Co—
Missouri Kansas So Texas Ry.
Spanish-American Iron Co
Bethlehem Steel Corporation.
Spartanburg Union & Columbia
Southern Ry., Carolina Division
Spuyten Duyvll So Port Morris
New York Central RR.
Standard Electric Co
Pacific Gas & Electric Co.
Standard Gas
Consolidated Gas of New York.
Salmon
River Power Co
Banford So St. Petersburg RR.
San Francisco Gas 4c Electric Co
General Cigar Co., Inc.
Associated Dry Goods Corporation.
United Elec. Light & Power, Bait—Consol. Gas Eleo. Lt. & Power.
United Elec. Light 4c Power of N. Y_.Consolidated Gas of New York
Union
RR
..United States Steel Corporation.
Union Stock Yard & Transit Co
Ch. J. Rys. & U. Stk. Y.
United Gas & Electric Co
..Pacific Gas & Electric Co.
United
Motors Corporation
General Motors Corporation.
United States Leather
Central Leather.
United States Sugar Refinery
Corn
Upper
Maine Central.
Utah
Coos
Products Refining Go.
Central
Denver
& Rio Grande.
Utah
Company
U. S. Smelting, Refining 4c
Utah
Fuel
Utah
&
C«
Denver & Rio Grande.
Oregon Short Line.
New York Central RR.
Utica So
Northern
Black River
Utica Clinton So BInghamton RR
Delaware So Hudson RR.
\7alley Counties Power Co
Mln
Pacific Gas & Electric Co.
...
* an
Bangor So Aroostook RR
National Railways of Mexico.
National Railways of Mexico.
Verdigris Val. Independ'ce 4s West..Missouri Pacific.
Vicksburg & Meridian
Alabama 4s Vlcksburg.
Victoria Rolling Stock.....
Canadian Pacific.
Virginia Air Line
Chesapeake & Ohio.
Virginia Midland
Southern Railway.
-
Vera Cruz to
aco
4»
Webster Coal
Coal
West Pennsylvania
West Virginia & Pittsburgh
Western Pennsylvania
&
New London Northern.
Pittsburgh & West Virginia Ry.
—Baltimore & Ohio.
Pennsylvania.
Corporation
Western Steel Car & Foundry Co
Midland Valley.
Wick wire Spencer Steel Corporation.
N. Y. Susquehanna 4s Western.
Willmar 4s Sioux Falls
Great Northern.
Wllm. & Weldon—Wilm. & Newborn Atlantic Coast Line RR.
Worcester Nashua
& Rochester
Boston 4; Maine.
Wichita 4; Midland Valley
Wickwire Steel Co..
Wilkes-Barre & Eastern
Southern Ry., Carolina Division
Wateree
Bituminous Coal Com.
Chesapeake 4s Ohio.
Pressed Steel Car Co.
Western Telephone So Telegraph Co..American Telephone So Telegraph Co.
Westinghouse Machine Co
.....
Westinghouse Elec. 4c Mfg. Co.
Western Pocahontas
Wilson & Co.
Sulzberger Sons So Co
Sumter
Clearfield
.Consolidated Gas of New York.
Pennsylvania RR.
Pennsylvania RR.
RR...
West River
Chicago & Eastern Illinois.
Branch
Maine Central.
Northern Paclflo.
Southern Ry.
& Coke
West Side Belt
Norfolk Southern.
Carolina..
...Pittsburgh4cSoTexas Virginia.Railway*
West Central
Houtston
Westchester Lighting Co
West Chester RR
Baltimore 4c Ohio RR.
StephenvlUe North 4c South Texas. _St. Louis Southwestern Ry.
Sturgls Goshen So St. Louis
New York Central RR.
Suburban Light 4c Power Co..
Pacific Gas 4c Electric Co.
Sullivan Co.
isthmus
Washington County.
Washington & Columbia River
Washington Ohio & Western
Staten Island Ry
Suffolk
Bridge
Wabash-PIttsburgh Terminal
So Northwestern
Baldwin Jbocoraotlve Works.
Standard Steel Works
Bur en
Verz Cruz & Pacific RR..
Sunbury Hazleton 4i Wilkes-Barre..Pennsylvania.
Sunbury & Lewlston
Pennsylvania.
Superior Short Line Ry
..Chicago St. Paul Minn. & Om. Ry.
Susquehanna Bloomsb'g 4c Berwick-Pennsylvania RR.
^anesville & Western
Toledo 4j Ohio Central.
H. M. BYLLESBY & COMPANY
INCORPORATED
111
208 So. La Salle
Broadway,
St.,
CHICAGO
NEW YORK
10
30 State Street
Weybosset St.
PROVIDENCE
BOSTON
Investment
/
Securities
(Continued from
page
and
7.)
3.748,196 09
401,556 86
17,094,334 10
__
Philadelphia & Camden Ferry
♦Philadelphia & Reading Ry. Co
♦Atlantic City Railroad Co.
...
Catasqua & Fogelsville RR.
'
Gettysburg & Harrisburg Ry.
North East Pennsylvania RR.
♦Perkiomen
Railroad
Philadelphia
&
Chester Valley RR.
Pickering Valley RR.
Philadelphia Newtown & New York
♦Port Reading Railroad
Reading & Columbia Railroad .
Rupert & Bloomsburg RR.
Stony Creek Railroad
Tamaqua Hazelton & Northern RR.
Williams Valley
Philadelphia Grain Elevator Co.
Delaware River Ferry Co. of New Jersey
Pittsburgh Chartiers & Youghiogheny Railway
♦Pittsburgh Cincinnati Chicago and St. Louis RR
♦Pittsburgh & Lake Erie Railroad
(b) $876,000,000 Representing
180,614 38
11,334,093 67
8,980,219 40
11,025 78
11,750,000 00
1,137,373 75
itself to
♦Arizona Eastern
,
the nearest
*
pay
the roads in the period immediately
following
approximation that the committee has received is
$25,00^,000.
makes a guaranty to the
months' period following
termination of Federal control (March 1 to Aug. 31 1920), and a rough
estimate of this sum by the director of finance is approximately $200,000,000.
The Transportation Act also contains an appropriation of $300,009,000
which is to be available for a period of 26 months following the termination
of Federal control for the making of new loans to railroads.
This appro¬
priation, as heretofore stated, is also available for the payment of judg¬
ments, awards, &c., arising out of
Federal control, approximated at
$30,000,000.
There will be left, therefore, the sum of approximately
$270,000,000 which will be available for the purpose of making these loans.
Another provision in the Transportation Act
and express companies during the six
railroads
♦Morgan's Louisiana & Texas Railroad & Steamship Co.
Western
Lake Charles & Northern
Iberia & Vermilion
284,761 95
64,562 79
56,884 89
2,574,510 88
4,107,432 49
159,739 77
Southern Pacific Terminal Co
Sunset Railway Company
Susquehanna & New York (effective Sept. 1 1918)
Terminal Railway Association of St. Louis
♦Texas & Pacific Railway Company
♦Toledo Peoria & Western Railway
665,391 57
Trans-Mississippi Terminal Railroad Company.
(lump sum)
♦Trinity & Brazos Valley
Troy Union Railroad Co
Union Freight Railroad Company
♦Union Pacific
may
during the period of Federal control.
(See "Transportation Act of 1920"
above.—Ed.).
No very accurate estimate can be made of this sum, but
♦Houston & Texas Central
♦Texas & New Orleans
Houston & Shreveport
♦Houston East & West Texas
♦Louisiana
or
appropriations for payments to roads during the period immediately follow¬
ing Federal control.
One of these provides for the payment of certain
losses which the shortline roilroads, not under Federal control, suffered
47,959,898 08
-
pay
F^^eralcontrol. fete fef tete k
til 1 he^Transportation Act, 1920, approved Feb. 28 1920, carries several
67,609 40
17,352 93
City Terminal Railway Company
Control—Recapitulation.
The foregoing tabulations deal only with the period of Federal control
do
not
Include
the sums which the Government has
obligated
373,811 11
Joseph & Grand Island Railway Company
Paul Bridge & Terminal Railway Company
for
and
15.000 00
456,684 00
412,427.56
♦St.
of advances
amount
Requirements Following Termination of
144,365 69
1,023,883 21
(effective Sept. 1 1918)
♦San Antonio & Aransas Pass. Ry
St. Louis Merchants' Bridge Terminal Railway Company.-
Railroad
Antonio
Capital Assets of Railroad Administration
the roads:
additions and betterments to
roadway and structures and equipment (except allocated
equip.), to be funded for 10 years and to bear interest at 6%.$27°,079,575
Advances for purchase of allocated equipment which has been
funded through equipment trusts, principal payable in 15
annual installments, with interest at 6%
367,806,968
Other indebtedness due the Government, to be evidenced by 1year notes bearing interest at 6%
144,422,526
Long term notes, payable to the Government..
44,433,664
Stocks, bonds, and receivers' certificates of railroad companies
owned by the Government
35,221,199
Investment In additions and betterments to inland waterways.
14.581,126
Net
Railroad
♦Galveston Harrisburg & San
^
for making new loans.
♦Richmond Fredericksburg & Potomac
Rio Grande Southern
♦Rutland Railroad
♦Southern Pacific
38,111,742
for which Government will hold securities of
Pullman Company
Sioux
2,449,739
17,400,202
85,204,618
40,233,396
♦Includes $30,000,000 for payment of judgments, &c., arising out of
Federal control, estimated to be paid from appropriation of $30^,000,000
Miduletown & Hummelstown RR.
Salina Northern
and rentals over operating revenues
Expenses of Railroad Administration for central and regional
organizations
Excess of operating expenses and rentals over operating revenues for American Railway Express Co
Difference in value of materials and supplies taken over from
roads at beginning of Federal control and materials and supplies restored at end of Federal control
Net interest adjustments and miscellaneous debits and credits
The Chester & Delaware River RR.
Port Huron Southern
43,011,129
steamship lines
Excess operating expenses
for inland waterways
Compensation.
♦Pere Marquette Ry. Co
St.
[Vol. 110.
RAILWAY AND INDUSTRIAL SECTION
248
Railroad-
100,000
11,852
32,009
38,552,928
00
69
69
79
Table Recapitulating the Several Amounts Heretofore
Operating loss under Federal control, estimated
by Director-General (approximately
$904,000,000
Estimated cost of six months guaranty follow¬
ing Federal control
200,00^,000
Estimated payment to short-line roads on account of losses during Federal control period
25,000,000
Stated.
'
♦Oregon Short Line
♦Oregon & Washington Railway & Navigation Co
Des Chutes Railway
Green River Water Company
Rattlesnake Water Company
Union Pacific Water Company
♦Vicksburg Shreveport & Pacific
♦Washington Southern
Waterloo
Cedar Falls & Northern
Weatherford Mineral Wells & Northwestern
„
Total loss to Aug.
companies, to Government
at termination of Federal control, estimated
by Director-General
$861,963,932
including
337,947 96
468.432 81
374,373 41
31,148 57
952,681 93
288,237 53
41,027 82
416,675 60
...
♦West Jersey & Seashore RR. Co
♦Western Railway of Alabama
Wrightsvillo & Tennille Rai road Company
Wiggins Ferry Company
East St. Louis Connecting
.....
♦Yazoo & Mississippi
following
Total investments
Grand
260,251 62
3,862,317 48
5.880 23
RR
INTER-STATE COMMERCE COMMISSION,
WASHING¬
TON, D. C.
This commission which, under the Transportation Act
of 1920, is vested with new powers respecting rates, consol¬
idations, securities, issues, &e., is constituted as follows:
'
Edgar E. Clark, of Iowa, Chairman; Charles C. McChord, of Kentucky;
Balthasar H. Meyer, of Wisconsin; Henry C. Hall, of Colorado;
Winthrop
$2,275,000,000
of
Total
Net
in
substance:
Director General's Estimate of U.S. Government's Total Expenditure
Railroads, &c.
fe? The estimate of the Director-General of total expenditures from the Fed¬
eral Treasury during the 26 months of Federal control and the expenditures
U
on
that remain to be made in order to terminate the matters of Federal control
is the sum of $1,870,000,000.
(See "Federal Appropriations" on a pre¬
ceding page above.—Ed.)
Deducting from this sum the amount included
therein which is invested in Liberty loan and Victory loan bonds of approxi¬
mately $90,000,000, which the War Finance Corporation is directed to
take
over
at par,
there remains the sum of $1,780,000,000.
£ The Director-General states that the task of winding up the affairs of the
Railroad Administration will continue certainly until Dec. 31 1920, and that
it is entirely probable it may run beyond March 1 1921.
The sums, there¬
as loss, to the Government and as capital assets
hopes to have returned are dependent in large
the settlements that the Railroad Administration makes
with the roads, the future condition of the roads, and their ability to pay
the Government the amounts in which they will be indebted to it.
fore, stated at this time
which
the
measure
Government
upon
Government Outlay for Operating Loss and Capital Expenditures.
£,The
total outlay of the Government as stated herein amount ro $1,780,000,000.
This sum may be divided into two parts, viz: (a) Approximately
$904,000,000 representing the amount stated by the Railroad Adminis¬
(b)
$876,000,000 representing the portion thereof which is capital assets and
which the Government hopes may be returned ultimately to the Treasury.
tration to be the loss of the Government on account of Federal control
These
(a)
amounts
in
detail
include:
Loss in Operation Estimated by
Director-General at $904,000,000:
Excess of operating expenses and rentals over operating reveues for Class I railroads
$677,513,152
Excess of operating expenses and rentals over operating reve¬
nues
for smaller railroads, sleeping and refrigerator car lines
.
Government.
sound that his claims
roads for under-
$1,450,000,000, already appropriated for the Railroad Administration,
approximates $65,000,000.
Assuming that the railroad securities owned by the Government would
shrink $250,000,000 by the present conversion thereof into cash the total
loss to the Government chargeable to Federal control and operation of rail¬
roads would amount to $1,375,000,000.
on
ASSOCIATION OF RAILWAY EXECUTIVES, 61 BROAD¬
The
dames
of
WAY, NEW YORK CITY.
the officers and standing
committee
are
For list of the 106 member roads and systems
and names of Law Committee, see pages 12 and 13 of "Official
Railway Guide," Quarterly Supplement, for April 1920, pub¬
lished by National Railway Publication Co., 75 Church St.,
given oelow.
New
York.
Cuyler, Chairman, 701 Commercial Trust
Building, Philadelphia, Pa.; Alfred P. Thorn, General Counsel, 320 Munsey
Building, Washington, D. C.; B. Gordon Bromley, Treasurer; Robert S.
Binkerd and Frank H. Fayant, Assistants to the Chairman.
General offices, 61 Broadway, New York City.
Officers.—Thomas DeWitt
Standing Committee.
DeWitt Cuyler, Chairman,
Trust Building,
Thomas
Commercial
Philadelphia.
The report presented to the House of Representatives by
Chairman Glass of the Committee on Appropriations says
to
maintenance, there still remains items of loss not included in the DirectorGeneral's statement.
The loss to the Government on account of interest
701
LOSS FROM GOVERNMENT CONTROL OF RAILROADS.
Loss
Assuming that the Director-General's contention is
for overmaintenance will more than offset the claims of the
Independent.
an
1,146,000,000
(approximately).
total
M.
Daniels, of New Jersey; Clyde B. AitchLson, of Oregon; Robert W.
Woolley, of Virginia; Joseph B. Eastman, of Massacnusetts.
Beorge B.
McGinty, of Georgia, Secretary; Alfred Ilolmead, of the District of Colum¬
bia, Assistant Secretary; Thomas A. Gillis, of Pennsylvania, Assistant to
the Secretary; William M. Lockwood, of the District of Columbia, Chief
Clerk and Purchasing Agent.
ISfrNew members of the Commission were named by President Wilson on
April 30 and May 6, subject to confirmation by Congress: Henry J. Ford,
Professor of Politics at Princeton University, to succeed Commissioner
James S. Harlan, whose term expired more than a year ago; James Duncan,
of Quincy, Miss., a former Vice-President of the American Federation of
Labor; and Mark W. Potter, of New York, President of the Carolina Clinchfield & Ohio Ry.
In the event that the three nominations are confirmed by
the Senate, the appointments will bring the Commission up to its newly
authorized strength of eleven members.
Four of the present eight commis¬
sioners are Democrats and four are Republicans.
Of the three men now
-nominated and still unconfirmed, two, it is stated, are Democrats and one
270,000,000
Federal control
Estimate
Railway
14,581,126
ditions and betterments to inland waterways
New loans to railroads for period of 26 months
•
Valley
York Harbor & Beach
express
Invastment of Railroad Administration in ad¬
St. Louis Transfer
Winston-Salem Southbound
$1,129,000,000
31 1920.
Indebtedness of railroads and other properties,
Chairman St. LouisCo., 120 Broad¬
New York City.
B. F. Bush, President Missouri Pa¬
cific RR. Co., St. Louis, Mo.
H. E. Byram, President Chicago Mil¬
waukee & St. Paul Ry. Co., Chi¬
E.
N.
Brown.
San Francisco Ry.
way,
cago,
W.
E. E. Loomis, President Lehigh
Co.,
N.
Cole,
D.
120 Broadway, N. Y. City.
President Norfolk &
Maher,
Western Ry. Co.. Roanoke, Va.
111.
R.
Val¬
ley RR. Co., 143 Liberty St., New
York City.
L. F. Loree, President Delaware 8c
Hudson Co., 32 Nassau St., New
York City.
Robert 8. Lovett, Chairman Execu¬
tive Committee Union Pacific RR.
President
Nashville
Chattanooga & St. Louis Ry. Co.,
Nashville, Tenn.
Howard Elliott, Chairman Northern
C.
H. Markham, President Illinois
Central RR. Co., 135 East 11th
Place, Chicago.
Osborn, Vice-Presi¬
William Church
dent Detroit Toledo & Ironton RR.
Co., 32 Nassau
St.,
Co., 71 Broadway, N. Y. City.
New York City.
S.
M.
Felton,
President Chicago Samuel Rea, President Pennsylvania
RR. Co.. Broad Street Station,
Great Western RR. Co., Peoples
Philadelphia.
Gas Building, Chicago, III.
Bird M. Robinson, President Ameri¬
W. H. Finley, President Chicago &
can
Short Line Railroad Associa¬
North Western Ry. Co., 226 West
tion, 711 Union Trust Building,
Jackson Boulevard. Chicago, 111.
Washington, D. C.
Carl R. Gray, President Union Pa¬
W. L.
Ross, Receiver
Toledo St.
cific RR. Co., Omaha, Neb.
Louis & Western RR. Co., Toledo,
Charles Hay den. Chairman Chicago
Ohio.
(£"*01 xf* ^
Rock Island & Pacific Ry. Co.,
A. H. Smith. President New York
25 Broad St., New York City.
Central Lines, Grand Central Ter¬
J. M. Herbert, President St. Louis
minal, New York City.
Southwestern Ry. Co., St. Louis,
W.
B.
Storey, President Atchison
Mo.
Topeka & Santa Fe Ry. Co., Chi¬
Hale Holden, President Chicago Bur¬
cago, 111.
lington & Quincy RR.Co., Chic¬
F.
D. Underwood, President Erie
ago. 111.
RR.
Co., 50 Church St., New
Howard G. Kelley, President Grand
York City.
Trunk Railway System. Montreal,
H. Walters, Chairman Atlantic Coast
narta.rin.
Line RR. Co., 71 Broadway, New
Julius
Kruttschnitt,
Chairman of
York City.
fl|
Executive Committee,Southern Pa¬
Daniel Willard, President Baltimore
cific
Co.,
165 Broadway, New
& Ohio RR. Co., Baltimore, Md.
York City.
Pacific
Ry.
[f
zwm
■
i
<**■
wots;*
(
tf« :rtt5
nka
irs!!
glsfis
mm
Sim
;.—vice-prebiaent
.
i
g&
18
is®
|ftm
pvv,,,!",:^f
3issi■slip#
M
bra
8
ssh*$$$■(
H
£0$$p&.
'
'0%hi
iq
"isr
?mim
*wyrfrm**
sxi3
!
"Ji
mir
f*
<«|
jm
|; \
alls '*
■-.*
f
pw®£m®
18
RAILWAY AND INDUSTRIAL SECTION
(Continued from
page
Marquette Ry. Co
ielphia & Camden Ferry,
delphia & Reading Ry. Co
and steamship lines
7.)
.
„
organizations
Excess of operating expenses and rentals
Railroad
for making new loans.
(b) $876,000,000 Representing Capital Assets of Railroad Administration
for which
Net
Williams Valley
Philadelphia Grain Elevator Co.
Delaware River Ferry Co. of New
Jersey
argh Chartiers & Youghiogheny Railway............
180.61438
ourgh Cincinnati Chicago and St. Louis RR
11.334.093 67
>urgh Sc Lake Erie Railroad................J......
8,980,21940
luron Southern Railroad
...................
11,025 78
in Company
.........11,750.000 00
nond Fredericksburg &
Potomac................... 1,137.373 75
Pacific
'Arizona Eastern
Houston & Texas Central
'Galveston Ilarrisburg & San Antonio
Texas & New Orleans
1
Pacific Terminal Co
11
40
93
08
Steamship Co.
........................
.....
.........
tal
Railway Association of St.
Railway Company
& Pacific
Peoria & Western Railway
o
....
.....................
..................
Jnion Railroad Co
..................
Pacific Railroad
32.009 69
38.552,928 79
Oregon Short Lino
Oregon & Washington Railway it Navigation Co
Des Chutes Rajlway
Green River Water
4,107,132 49
159,73977
665,391 57
100,000 00
11,85269
Freight Railroad Company..
i;
284,761 05
64,562 79
1918)
56,884 89
Louis................ 2,574,510 88
Mississippi Terminal Railroad Company...
ry & Brazos Valley-..
...(lump *um)
Company
..............
Jersey & Seashoro RR. Co
Railway of Alabama
.................
>svlil0 & Tennille.Railroad Company
.......
...
Ferry Company
468.432 81
374,373 41
31,148 67
952.681 93
260,251 62
..3.802.317 48
5 £80 23
May 6, subject to confirmation by
Conimtw Henry J. Ford,
succeed Commissioner
more than a year ago; James
Duncan,
lcy,'
^Prmer Vice-President of «he American Federation of
and Mark W. Potter, of New
York, lWkliMri of the Carolina ClinchOhio Ry.
In the event that the three nominations are
confirmed by
iate, the appointments will
bring the Commission up to Its newly
zed strength of eleven members.
Four of the prwni eight com misare Democrats and
four are Republicans.
Of the three men now
ted and still
unconfirmed, tvo, It la stated, are Democrats and one
of
Politics
at
Princeton
Harlan, whose term expired
University,
to
jpendent.
FROM GOVERN MEN f~C0N
TR0L OF RAILROADS.
* report presented to the
House of representatives
by
man Glass of the
Committee on
Appropriations
bstance:
General's Estimate of U.S.
save
Government's Total Expenditure
on
Railroads, 4fcc.
estimate of the Director-General of
total expendit ures from the Fedeasury during the 26 months of Federal control
and the expenditures
main to be made in order to terminate the
matters of Federal control
sum of
$1,870,000,000.
(See "Federal Appropriations'* on a
page above.—Ed.)
which is invested in
pro-
Deducting from this sum the amount included
Liberty loan and Victory loan bonds of approxi-
$90,000,000, which the War Finance Corporation
la directed to
or at par, there remains the
sum of $1,780
,009,000.
Director-General states that tho task of
winding up the affairs of the
d Administration will continue
certainly until Dec. 31 1920, and that
irely probable it may run beyond March 1 1921.
The sums, thereat-ed at this tune as loss.to the
Government and as capital assets
she Government hopes to have returned
are dependent in
large
*
upon the settlements that the Railroad
Administration makes
e roads, the future condition of tho
roads, and their ability to pay
rernment the amounts in which
they will be indebted to it.
iment
Outlay for Operating Loss and Capital Expenditures.
;otal outlay of the Govemmtnt as stated
herein amount ro $1,780,This sum may be divided into two
parts, viz; (a! Approximately
0,000 representing the amount stated
by the Railroad Administo be the loss of the Government on
account of Federal control
(b)
0,000 representing the portion thereof whtch Is
capital assets and
he Government hopes
may bo returned ultimately to the
Treasury.
1 amounts in
detail include:
oss in Operation Estimated
by Director-General at $904,000,000:
of operating expenses and rentals
over
operating reve>r Class I railroads
$677,513,152
of operating expenses and rentals over
.
for smaller railroads,
following
25,000,000
$1,129,000,000
control, estimated
$861,963,932
Federal control.
Total investments
14,581,126
270,009,000
(approximately)
1,146,000,000
■
operating
sleeping and refrigerator
total
$2,275,000,000
car
reve-
lines
of
Total
Net
Loss to Government.
Assuming that the Director-General's contention is sound that his claims
for overmaintenance will more than offset the claims of the roads for
under-
maintenance, there still remains items of loss not included in the DirectorThe loss to the Government
on
account of interest
$1,450,000,000, already appropriated for the Railroad Administration,
approximates $65,000,000.
Assuming that the railroad securities owned by the Government would
shrink $250,000,000 by the present conversion thereof into cash the total
on
loss to the Government chargeable to Federal control and
operation of rail¬
roads would amount to $1,375,000,000.
ASSOCIATION OF RAILWAY EXECUTIVES, 61 BROAD¬
WAY, NEW YORK CITY.
The names of the officers and
standing committee are
given oelow.
and
names
For list of the 106 member roads and systems
Committee, see pages 12 and 13 of "Official
of Law
Railway Guide," Quarterly Supplement for April 1920, pub¬
Railway Publication Co., 75 Church St.,
lished by National
New York.
Officers.—Thomas DeWitt Cuyler, Chairman, 701 Commercial Trust
Building, Philadelphia, Pa.; Alfred P. Thorn, General Counsel, 320 Munsey
Building, Washington, D. C.; B. Gordon Bromley, Treasurer; Robert S.
Blnkerd and Frank H. Fayant, Assistants to the Chairman.
General offices, 61 Broadway, New York City.
Standing Committee.
Thomas DeWitt
701
_____
or
by Director-General
General's statement.
MISSION, WASHING¬
TON, I). C.
which, under the Transportation Act
new powers
respecting rates, consol¬
securities, issues, &c\, is constituted as follows:
9 and
4.
during Federal control period
Estimate
Clark, of Iowa, Chairman; Charles (\ McCh/ird, of
Kentucky;
iar H. Meyer, of
Wisconsin; Henry O. Hall, of Colorado!
WinUirop
■niols, of New Jersey; Clyde B. Aitehtwn, of
Oregon; Robert YY.
y, of Virginia; Joseph B. Eastman, of
D«*>rge B.
ty, of Georgia, Secretary; Alfred Holmead, of the
District of Coiumsis tan t Secretary; Thomas A.
Gillis, erf1 Pennsylvania. A**istant to
rotary; William M. Lockwood. of the District of
Columbia, Chief
ncl Purchasing Agent,
members of the Commission were named
by President Wilson on
or
of losses
Investment of Railroad Administration in ad¬
ditions and betterments to inland
waterways
New loans to railroads for period of 26 months
41.027 82
commission
E.
Estimated cost of six months guaranty follow¬
ing Federal control
200,00^,000
Estimated payment to short-line roads on ac-
283.287 63
30, is vested with
ir
appro¬
priation, as heretofore stated, is also available for the payment of judg¬
awards, See., arising out of
Federal
control, approximated at
$30,000,000.
There will be left, therefore, the sum of
approximately
$270,000,000 which will be available for the purpose of making these
loans.
Table Recapitulating the Several Amounts Heretofore
Stated.
Operating loss Under Federal control, estimated
by Director-General (approximately
$904,000,000
ments,
337,917 96
Railway.....................
Hi-STATE COM MERCTCOM
es,
period immediately following
the nearest approximation that the committee has
received is $25.00^,000.
Another provision in the Transportation Act makes a
guaranty to the
railroads and express companies
during the six months'period following
termination of Federal control (March 1 to
Aug. 31 1920), and a rough
est imate of this sum by the director of finance is
approximately $200,000,000.
The Transportation Act also contains an
appropriation of $300,000,000
which is to be available for a
period of 26 months following the termination
of Federal control for the
making of new loans to railroads.
This
Grand
Iarbor & Beach RR
is
the
410,675 00
East St. Louis Connecting
St. Louis Transfer
>n-8alem Southbound
Mississippi Valley
in
heg'fransportation Act, 1920, approved Feb. 28 1920, carries several
appropriations for payments to roads during the period immediately follow¬
ing Federal control.
One of these provides for the
payment of certain
losses which the shortline roilroads, not under
Federal control, suffered
during tho period of Federal control,
(See "Transportation Act of 1920"
above.—Ed.).
No very accurate estimate can be made of this sum, but
at termination of Federal
..................
n*n
&
roads
including egress companies, to Government
Cedar Falls &
Northern.......................
erford Mineral Wells & Northwestern
>
pay or may pay the
control, fcfc |g feilafe
l
Total loss to Aug. 31 1920
Indebtedness of railroads and other properties,
00
»s
Federal
il l
cou nt
Rattlesnake Water Company
XJnion Pacific Water Company
burg Shreveport & Pacific
ington Southern
and
itself to
66
Houston & Shreveport
Houston East & West Texas
hanna & New York (effective
Sept, 1
The foregoing tabulations deal
only with the period of Federal control
do
not
include
the sums which the Government has
obligated
15.000 00
456.684 00
412,427
373,811
67,509
17,352
.47.959.898
iern
•
1,023,883 21
Railway Company..
>sepb & Grand Island Railway Company...........
il Bridge & Terminal Railway
Company............
City Terminal Railway Company..................
to
-
144.365 69
....................
(Northern Railroad (effective
Scpt.l 1918)-.-.......
intonio & Aransas Pass. Ry
...................
uis Merchants' Bridge Terminal
Government will hold securities of the roads:
of advances for additions and betterments
amount
roadway and structures and equipment (except allocated
equip.), to be funded for 10 years and to bear interest at 6% -$27°,079,575
Advances for purchase of allocated equipment which has been
funded through equipment trusts,
principal payable in 15
annual installments, with interest at
6%
367,806,968
Other indebtedness due the Government, to be evidenced
by 1year notes bearing interest at 6%
144,422,526
Long term notes, payable to the Government
44,433,664
Stocks, bonds, ana receivers' certificates of railroad companies
owned by the Government
35,221,199
Investment in additions and betterments to inland
waterways.
14,581,126
Requirements Following Termination of Control—Recapitulation.
Tamaqua Hazel ton & Northern RR,
Railway Company..
85,204,618
40,233,396
for payment of judgments, Sec., arising out of
Federal control, estimated to be paid from
appropriation of $30^,000,000
.
Morgan's Louisiana & Texas Railroad &
Louisiana Western
Lake Charles & Northern
Iberia <fe Vermilion
38,111,742
♦Includes $30,000,000
Philadelphia
&
Chester Valley RR.
Pickering Valley RR.
Philadelphia Newtown & New York
♦Port Reading Railroad
Reading & Columbia Kaibwd
Rupert & Bloomsburg RR.
Stony Creek Railroad
rn
17,400,202
over operating reve¬
nues for American Railway
Express Co
Difference In value of materials and supplies taken over from
roads at beginning of Federal control and materials and
sup¬
plies restored at end of Federal control
Net interest adjustments and miscellaneous debits and credits
Catasqua & FogeLsville RR.
The Chester & Delaware River RR.
Gettysburg & Harrisburg Ry.
Middletown & HummeLstown RR.
North East Pennsylvania RIt.
rande Southern
nd Railroad
2,449,739
—
17,094.334 10
...
♦Atlantic City Railroad Co.
43,011,129
Excess operating expenses and rentals over
operating revenues
for inland waterways
Expenses of Railroad Administration for central and regional
Compmsntlon.
3,748.196 09
401,556 86
.
♦Perkiomen
[Vol. 110.
Cuyler, Chairman,
Trust Building,
E. E. Loomis, President Lehigh Val¬
Commercial
ley RR. Co., 143 Liberty St., New
York City.
Brown, Chairman St. Louis- L. F. Loree, President Delaware &
San Francisco Ry. Co., 120 Broad¬
Hudson Co., 32 Nassau St., New
way, New York City.
York City.
B. F. Bush. President Missouri Pa¬ Robert S. Lovett, Chairman Execu¬
cific RR. Co., St. Louis, Mo.
tive Committee Union Pacific RR.
II. E. Byram, President Chicago Mil¬
Co., 120 Broadway, N. Y. City.
waukee St St. Paul Ry. Co., Chi¬ N. D. Maher, President Norfolk
St
cago, 111.
Western Ry. Co., Roanoke, Va.
W.
R.
Cole,
President Nashville C. H. Markham, President Illinois
Central RR. Co., 135 East 11th
Chattanooga & St. Louis Ry. Co.,
Nashville, Tenn.
Place, Chicago.
Howard Elliott, Chairman Northern William Church Osborn, Vice-Presi¬
Pacific Ry. Co., 32 Nassau
dent Detroit Toledo & Ironton RR.
St.,
New York City.
Co., 71 Broadway, N. Y. City.
S.
M.
Felton,
President
Chicago Samuel Rea, President Pennsylvania
Great Western RR. Co., Peoples
RR.
Co., Broad Street Station,
^
Gas Building, Chicago, 111.
Philadelphia.
W. H. Finley, President Chicago &
Bird M. Robinson, President Ameri¬
North Western Ry. Co., 226 West
can
Short Line Railroad Associa¬
Jackson Boulevard, Chicago, 111.
tion, 711 Union Trust Building,
Carl K. Gray, President Union Pa¬
Washington, D. C.
cific RR. Co., Omaha, Neb.
W. L.
Ross, Receiver
Toledo St.
Charles Hayden. Chairman Chicago
Louis & Western RR. Co., Toledo,
Philadelphia.
E.
N.
Rock
25
Island
Broad
&
Pacific
Ry.
Co.,
Herbert,
New York City.
President St. Louis
Southwestern
J.
Ohio.
Ry. Co., St. Louis,
M.
St.,
<
A.
H. Smith, President New York
Central Lines. Grand Central Ter¬
minal, New York City.
B.
Storey, President Atchison
Topeka & Santa Fe Ry. Co., Chi¬
lington & Quincy RR.Co., Chic¬
cago, 111.
F.
ago, 111.
D.
Underwood, President Erie
Howard G. Kelley, President Grand
RR.
Co., 50 Church St., New
Trunk Railway System, Montreal,
York City.
Canada.
H. Walters, Chairman Atlantic Coast
Julius
Kruttschnitt,
Chairman
of
Line RR. Co., 71 Broadway, New
Executive Committee.Southern Pa¬
York City.
flfl
cific
Co..
165
Broadway, New Daniel Willard, President Baltimore
York City.
& Ohio RR. Co., Baltimore, Md.
Mo.
Hale Holden, President Chicago Bur¬
W.
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CHARLES H. KEEP, Chairman of the Board
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KANE.,—_._Vice-Pre«i<ient
LANGLBY W. WIGGINJ. SPERRY
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WAHRKN>«--.;->T1o©-Bpe8ideni
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G. HERBST—Asst. Sec'y
ARTHUR
DALY
FREDERICK
MATTHEWS, JR. ....:.Asat.Treas.
"lf^
^^^^EIGH departmei^i^v^
..^Vice-Presideot
S. STERN
RIDBR.-..,-Aa8t.fre»a»
B.
HOWARD
JOHN
FBBDO.
ROBERT
G. KIKBALL-.^-—Treasorer
WALTER
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^i^wiYrajt ifaie&t mmWB3$3U &
-Aest. Trust Officer
HARRIS A. BUNN^iSiSi'
BATNBiL-.ii.
HOWARD
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WILLAED V. KIKG, President
II
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Ant. Secretary
•AC;Sii,v ' j
Capital
$5,000,000
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DIRECTORS
CHARLES H. KEEP. Chairman of the Board
fARDH.
GEORGE CRAWFORD CLARK JR.
Clark. Dodge A Oo.. Bankers
Harold benjamin clark
White, Weld A Co.; Bankets
1 EDWARD COlHIMi '&$V.
II aMCBLL: h. ball si?
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SAMUEL G.BAYWE
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JSSIwlM.'.-A-OHC
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j■fe'1.
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y^A^ARTON HEPBURN ^
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WILLIAM
A*.TIMtiKMlSvv/i
TwAer, Anthnwy a Co., Bastkflrs
Ohafrman Chase National Btok
WILLARD V. KING
president of the Company >;./
Co.
President
icr^2.'li(2a2^L
m^T. vIW. m fTmntmf ITWW
Iv'v'WIt
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'MfOAH C. ROGERS
-
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Charles D. Barney It Oo»* Banken
Ins. Co.
A* E. CARLTON
OfthmKlo Spring*, Colo.
W
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IvWUtJUv
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THOMAS A. BUCKNER
Vice-Pres. N, Y. lie
Attorney at hnr
E. H, R. :■ GREEN'
;;
FRANKLIN Q. BROWN
T".
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^JHjRWNCt<
-al'•#ii^*^A'-<"''^e>a^'•VV-'-V■?'
£ mfMi^WWRNIiiW Plliw'-"•#¥
Co.,-Bankers
yftlly JAMES M.CIFFORD
"'f'.^'
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ALFRED
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MOREAU DELANO
Brown Brothers A
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UNION N. BETHEU*
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Pros,
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1881
J. S. FARLEE & CO.
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66 BBOADWAY, NEW YORK
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THOMAS B. 9COTT
ARCHIBALD F. McLIESH
PRINCE
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BROADWAY| NEW YORK
Stock, and Bonds Bought and Sold on
INVESTMENT SECURITIES A
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SPECIALTY
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New Haven, Baltimore, and Richmond, Va.
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NO. 52
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FOUNDED 1871
EDWARD W. WARD
y;.:y-y
Y'YZ
fivimtip. mt w ffrrvrr
ERNEST N. SMITH
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New York
DREXEL & CO., PHILADELPHIA*
MORGAN, GRENFELL & CO
MORGAN, HARJES & CO., PARIS
oil
Commission.
Commercial Credits.
Cable Transfers.
Grcular Letters for Travelers, available in all parts
of the world.
1" V 4r*V; -•*;
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TWO
SECTIONS—SECTION
ONB.
INCLUDING
Bank &
Quotation Section
Railway & Industrial Section
Electric
Railway Earnings Section
Bankers' Convention Section
State and
COPYRIGHTED IN 190g
BY WILLIAM B. DANA COMPANY. NEW YORK.
Issued
VOL 110.
Weekly
CHARTERED
FARMERS'
William B.Dan® Co.,
Publishers,
138 Front St., N.Y.City.
YORK, JUNE.5, 1920.
Jffnattdal
THE
Jfutanctal
LOAN
& TRUST
The
OOC7
liherlylalionalBimfc
32 Nassau St.
COMPANY
MA
INU. ZoO/.
Jftnamf&J
HARVEY FISK & SONS
1IZ2
City Sectio®
ENTERED AS SECOND-CLASS
HATTEW JUNE 21, 1879, AT THE POSTOPFIOE AT
NEWYORK, NEW YORK, UNDER THE AOTOP MAROH
S, m*.
NEW
$10,00 Per Year
Railway Sectio®
ofNewlork
NEW YORK
CAHTAL
NEW
80,000,006.80
SURPLUS
16, 18. 20 and 22 William Strnat
$75 Fifth Avsnus, at 41st Straat
80,000,000.00
UNDIVIDED
UNJTED STATES BONDS
YORK
•'
PROF1TS.82,100,000.00
.'N$.
NEW YORK CITY BONDS
MANAGEMENT
CARE
OF
OF
ESTATES
Correspondents in all countries
AND OTHER CHOICE
Special facilities in Scandinavia
INVESTMENT SECURITIES
SECURITIES
•DOMESTIC AND FOREIGN
Harris, Forbes & Co
BANKING
Fine
Street,
Corner
NEW
FOREIGN
The New York Trust
EXCHANGE
LETTERS
OF
COMMERCIAL
CREDIT
17 Austin Friars, LONDON, I. C,
HARRIS. FORBES & CO.. In*
Company
LETTERS
BOSTON
HARRIS TRUST
26 Broad Street
[ACCEPTANCES
paris
!'
Act m7 fiscal agent* for munici¬
palities end corporation* and
fan Government, munici¬
New
York
Clearing
deal
W
bonds for
Capital, Surplus and Undivided
Member Federal Beserre System
Hat
Profits,
Howe
en
investment
Application
Cable Addrem 8ABA, NEW YORK
$14,000,000
Established
SAVINGS BANK
pal. railroad and public utility
"
.
and
&
CHICAGO
5th Avenue and 57th Street
london
Wlllitrr,
YORK
Established
1892
1874.
John L. Williams & Sons
Edward B.Smith&Co
BANKERS
Corner 8th end
Main Street*
Established 1810
RICHMOND, va.
Baltimore Correspondents:
LANCASTER WILLIAMS
Member New York and
The
Je
OO.i
In«.
GARFIELD
Philadelphia
STREET, where
FIFTH
-
MbtalI
OF THE CITY OF
NEWYORK
$1,000,000
Surplus,
New York
The Chase National Bank
AVENUE
Capital
Crosses Broadway
Capital,
and
Philadelphia
Exchanges
National Bank'
National Bank
23rd
Mechanics
Stock
-
$1,000,000
$9,000,000
Surplus and Profits
-
of the
$13,600,000
-
57
A Bank for the Builders of Business
Deposits, May 4, 1920
-
City of New York
BROADWAY
CAPITAL
$196,000,000
815,000,000
SURPLUS AND PROFITS—
THE
Version Exchange
Bend
NATIONAL BANK
364,289,000
OFFICERS
Trust Department
AMERICAN EXCHANGE
22.227.000
DEPOSITS (May 4. 1920)——
Department
A. BARTON
HEPBURN,
Chairman of the Advisory Board
Department
ALBERT H.
WIGGIN,
Chairman of the Board of Directors
NEW YORK
EUGENE
V. R. THAYER
SAMUEL
H.
Resources
over
Letters of Credit
President
MILLER
Vice-President
EDWARD R. TINKER
Foreign Exchange
.—Vice-President
OARL J. SOHMIDLAPP
Vice-President
GERHARD M. DAHL
$175,000,000
Vice-President
REEVE
FIRST NATIONAL BANK
Henry W. Cannon
A. Barton Hepburn
Guy E, Tripp
Gerhard M. Dahl
Andrew Fletcher
William B. Thompson
HiJJ
Daniel O.
Jackling
Charles M.
Wm.
A. LAW. President
Samuel H.
SOUTH FOURTH STREET
.
PHILADELPHIA
Newcomb Carlton
Frederick H. Ecker
Eugene V. R. Thayer
James N.
LIGHT AND POWER COMPANIES
109-111
Cashier
Albert H. Wiggtn/
John J. Mitchell
OF RAILROAD, GAS AND ELECTRIC
CHARTER NO. 1
Vice-President
DIRECTORS
BONDS
PHILADELPHIA, PA.
SCHLEY
ALFRED O. ANDREWS
Francis Ralston Welsh,
Schwab
MUler
Edward R. Tinker
I Edward T
Nichols
Carl J.
Schmidlapp
Reeve Schley
Kenneth F. Wood
Wendell Endico
William M. Wood
H.
fV«L. no
THE CHRONICLE
a
infeettmctit fton
ot fonts*
attt
no iQtatoert
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1QBQAN, GRENFELL&CO., LONDON
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Act
and negotiate anu
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as
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&
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C
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Securities bought and sold on
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43
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York
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for Travelers
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& CO,
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Broadway, Corner BEAVER
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!
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Manhattan
Branches throughout
Credit available in all parts of the
world.
AOCOUNT8JINVITED.
MnondMa
It Plna Street. New York
Lawrence Turnure & Co.
Investment Securities
Investment securities bought and
Travelers'
out the United
Central
Lanier & Co.
59 CEDAR
credits,
sold
available
-
•
Nsw York
Fittabwb
on com¬
Investment Securities
through¬
America
and
Make collections
Spain.
countries.
Paris
London
Bankers:
Midland
NEW YORK
-
States, Cuba, Puerto Rico, Mexico,
Members
In and issue drafts and cable transfers on above
London
STREET
St.
Areade Bldg.
New York
mission.
Wins low,
S3 Pine
(Jades
64-66 Wall Street,
Bank.
Bankers:
Joint City
&
New York and Pittsburgh
Limited.
Heine &
Stock Exchanges
Co.
BANKERS.
g$9oaits
Received
Allowed
Subject
on
Bought
and
Draft.
to
Deposits,
Sold
Interest
HEIDELBACH, ICKELHEIMER & GO.
Securitiec
37 William Street.
on
MEMBERS
ComrtiirsJon,
Foreign Exchange, Letters of Credit
N.
Y.
STOCK
Execute orders for
EXCHANGE.
purchase and sale of
Foreign Exchange Bought and Sold.
Bonds for
HUTH & CO.
Stocks and Bonds.
Issue Commercial and Travelers' Credits
available in all parts of the world.
Foreign Bonds &
New York
Investment Securities
Investment'Securltles,
Commercial Credits, ForeignfExchange,
Cable Transfers on
Schulz & Ruckgaber
17 Pine Street
New York
30 Pine Street
FRED? HUTH & CO., London
and
on
the Continent of Europe
Foreign Exhange
Kean, Taylor & Co.
O—MWlri
Credits
tamed
la
DoDara.
Pi
Bterttag. Francs. GnikUrs. Pesetas, ate.
Pittsburgh
New York
Lradoa Agente, Messrs.
John Munrae & Co.
BOSTON
3BW YORK
Goeehene A Cunliffe
BOISSEVAIN
52 BROADWAY, NEW
& CO.
Meinbersof the New York Stock Exchange.
:
Letters of Credit for Travelers
<%*sterdal Credits.
Foreign Exchange
Cable Transfers.
INVESTMENT SECURITIES
COMMERCIAL DEPARTMENT
FOREIGN
MESSRS.
WJNBOE a CO., Paris
ALDRED & CO
YORK
EXCHANGE
PIERSON & CO
Amsterdam. Holland
M Wall Street
New York
Fiscal Agents for
PabUc Utility and Hydro-Electrte
Companies
JUNE 5 1920.]
THE CHRONICLE
m
Infeegtatm! atib fhwwfiffl Sowtt%
Lee, Higginson & Co.
Goldman, Sachs & Co. Millett,
NEW
YORK
187 So. La Salle Street
Investment Bankers
60
Congress Street
CHICAGO
14
BOSTON
Montgomery Street
INVESTMENT SECURITIES
421 Chestnut Street
SAN FRANCISCO
Boston
Roe & Hagen
60 Wall Street
PHILADELPHIA
MEMBERS
New York
Members of New York and
Chicago
Chicago
Stock Exchanges
Higginson & Co.
YORK STOCK EXCHANGE
Commercial Paper
Securities
80, Lombard St.
"
-
NEW
bought
London, E. C.
and
sold
on
commission
Foreign Exchange
Commercial
&
available
Travelers'
in
52 WILLIAM ST.
Letters of
NEW yom
Credit
-
ail
of
parts
the
world
_
-I
'Hornblower & Weeks
42
BROADWAY, NEW YORK
RAILWAY
investment Securities
EQUIPMENT BONDS
MEMBERS
NEW
YORK, BOSTON AND
Maim
CHICAGO STOCK EXCHANGES
EVANS, STILLMAN & CO.
IMrect wires to all principal markets
Members New York Stock
60
Boston
Providence
NEW
YORK
Robinson & Co,
Underwriters & Distributors
Industrial
FOREIGN
Bonds
Public
GOVERNMENT
Preferred
Stocks
an
Present
Investment Securities
Trust Certificates
Gounselman & Co.
ttiling considerably below their normal
Exchanges.
U. S. Government Bonds
Exchange Place
indications,
however,
advancing tendency and
a
112
W.
ADAMS
ST.„ CHICAQO
return
Conservative
would yield unusual profits.
Writ* fur our suggestions and Circular F« B.
i. m. taylor & co.
NEW
Yielding 6% to 8%
YORK
INVESTMENTS
Telephone 4600 Bowling Green
Peabody, lioughteling & Co.
7 Wall Street
New York
Frazier &■ Co.
Broad
Sc
Sanson Straats
Investment Securities
Incorporated
Bond & Goodwin
BROADWAY.
New Y@I?£
Members New York Stock Exchange
Investment Bankers
ralus dot to the unprecedented fall In Foreign
» normal
&
Utility Securities
Equipment
BONDS
68
Exchange
BROADWAY
Portland
Established 1888
point to
Avenue and 43rd St.
Correspondent Offices in 50 Cities»
Chicago
$3&ro!t
art
Officm: National City Bank Building
Uptown Office t Fifth
EST. 1860
Boston
Cleveland
Philadelphia
INC. 1918
Pittsburgh
10 So. La Salle St.
Chicago
PHILADELPHIA
Balrtasets
Naw York
Washington
Pittsburgh
Underwriters
Distributors
Wllkas-Bnrra
SECURITIES SALES CO.
Howe, Snow,
HALSEY, STUART & CO.
Incorporated—Successors to
N. W. HALSEY A CO. CHICAGO
Corrigan & Bertles
Investment
GRAND
Bonds
Bankers
RAPIDS,>
Short Term
MICH.
PHILADELPHIA
CHICAGO
YORK
HEW
DETROIT
MINNEAPOLIS
BOSTON
ST.
[Notes
Stocks
Preferred
MILWAUKEE
LOUIS
H. F. BACHMAN
& CO.
64 PEACHTREE,
Established
BIRMINGHAM
JACKSONVILLE
1866
CHARLOTTE
Government, Municipal, Railroad
and Public Utility Bonds.
ATLANTA
ORLEANS
NEW
MEMPHIS
INVESTMENT
BANKERS
Fiscal Agents for Cities and Corporations.
Members N. Y. and Phila. Stock Exchanges
1425 Walnut
61
St.,
'
PHILADELPHIA
H.
T.
Broadway
YORg
GOVERNMENT BONDS
NEW
HOLTZ & CO.
INVESTMENT
RAILROAD AND FOREIGN
FOR INVESTMENT
HARPER
& TURNER
•
BONDS
INVESTMENT
BANKERS
STOCK EXCHANGE BUILDING
39
SOUTH LA SALLE STREET
CHICAGO
WALNUT STREET ABOVE BRQAD
PHILADELPHIA
Members Philadelphia Stock Exchange
Colgate, Parker & Co.
49 Wall
Streat,
New Yor|p
[VOL. 110.
THE CHRONICLE
rr
jfuumctal
Jflnanttal
jrtnantial
yjgYmM&E
Power
Electric
Light Enter¬
and
ESTABROOK & CO.
established
prises with records of
Members New York
INVESTMENT
WE OFFER
and
Bankers
and Boston
Dealers
SECURITIES
15 State Street,
Light Securities
24 Broad Street,
Investment
Proven Power and
Correspondence Solicited
COMPANY
&
CHASE
Stock Exchanges
earnings.
BONDS
BOSTON
-
NEW YORK
BOSTOB
19 CONGRESS ST..
SPRINGFIELD
BALTIMORE
PROVIDENCE
ELECTRIC BOND & SHARE CO.
(Paid-Up Capital and Surplus$24,000,000)
71 BROADWAY,
NEW YORK
EMERSON & CO.
E. S.
MUNICIPAL
AND
RAILROAD
Arthur Lipper
New
Street and
& Company
Exchange Place
NEW YORK
BONDS
Investment Securities
For Conservative Investment
SOLD
R. L. Day & Co.
35
BOUGHT AND
SECURITIES
ON
COMMISSION
BOSTON
60 STATE ST.
Congress St., Boston
Members
Branch Offices
T.7''
Waldorf-Astoria Hotel.N.Y.
N. Y. Stock Exchange
Y.
N. Y.
Philadelphia Stock Exch. Atlantic City, N. J.
Chicago Board of Trade
West End, N. J.
N.rY."Cotton Exchange
Richardson, Hill & Co.
REMICK, HODGES & CO.
I
.K.
-IT... 1
in
,.1 , ,,
, mil
,.,i
1
■
11 East 44th St., N.
N.Y.Coffee & Sugar Exch.
New
York Correspondents
Saratoga Springs.
l-.ll—r.-IUH--I L.I
Long Beach,
E$tabli$hed 1870
Investment Securities
PARKINSON & BURR
Congress St.
00
Members of the New York and
Boston Stock Exchanges
? Wall Street
N. Y.
BOSTON
53 State Street
BOSTON
NEW YORK
Exchange
!Boston Stock Exchange
New York Stock
Chicago Stock Exchange
GochranejHarper&Co.
Investment
W. F. L&dd & Ce.
Securities
10 State St.,
Ill
Broadway
E. HOWARD GEORGE & CO,
Investment
NEW YORK
BOSTON
fate.
Securities
Investment Bankers
New York
Saker, Ayling & Young
George Pick & Company
BOSTON
ESTABLISHED 1865
PHILADELPHIA
Investment
72
5 Nassau
KONIG
BROTHERS
BOSTON, MASS.
11 Stmt* Street
BONDS
&
GO.
Securities'
West Adams Street
St., N. Y.
MEMBERS NEW YORK STOCK
EXCHANGE
Chicago
Deal in
160 Pearl
Underlying Railroad Bonds
Street, NEW YORK
and
Commercial
and
Travellers'
Tax-exempt Guaranteed &
Preferred
Railroad & Telegraph Co.
Stocks
Letters of Credit
on
Watkins & Co.
New
England
Industrial Securities
KONIG BROTHERS, LONDON
Yielding
and
NEDERLANDSCHE HANDEL-MAATSCHAPPY
ROTTERDAM
J. MURRAY
85
D«Ton<hlr«
Street
7 Wall Street
.
8%
NEW YORK
WALKER
Investment Securities
to
Boston
June 5 1920.]
THE CHRONICLE
Canadian
BANK OF MONTREAL
THE CANADIAN BANK
Established
100 Years
Canadian
over
Government and Municipal
OF COMMERCE
CAPITAL
Bonds
PAID UP
bonds
offer
exceptional
oppor¬
tunity for sound investment.
If pur¬
chased
now
they
will
yield
from
TOTAL ASSETS
STREET,
London,
NEW
In
YORK
Montrea
Travelers'
and Newfoundland.
every
The Bank of England,
The Bank of Scotland,
CANADIAN
Lloyd's Bank, Limited.
SECURITIES
The Dominion Bank
'
HEAD
THE BANK OF NOVA SCOTIA
OFFICE, TORONTO
(Incorporated 1832)
Municipal
Paid Up
Capital
$6,000,000
7,739,000
...148,000,000
PAID-UP
Reserve Fund & Undivided Profits
Corporation
Total
Assets
_
Sir Edmund Osier,
FUND
$9,700,006
AND
UNDIVIDED PROFITS OVER..
TOTAL ASSETS OVER
Clarence A. Bogert,
President
CAPITAL
RESERVE
request
on
of
BANKERS IN GREAT BRITAIN:
Indies,
British Guiana and West
Colonial Bank (in
which an
interest is owned by the Bank of
Montreal).
Lists
Cheques and Letters of Credit Issued
LONDON OFFICE—2 Lombard Street, E. O.
Africa—The
&
Jonea.
STEPHENSON,]
Banking and Exchange business
description transacted with Canada.
San Francisco—British American
Bank (owned and controlled by the Bank of
Montrccil)*
Government,
L.
Chicago,
Spokane,
West
V.
available in all parts of the world. "
London, England, and at Mexico City.
Paris, Bank of Montreal, (France).
In the United States—New
York,
H.
Buy and Sell Sterling and Continental
Exchange and Cable Transfers.
Collections
made at all points.
Branches and Agencies:
At
Manager,
Office, 16 Exchange Place
F, B. FRANCIS,
)
C. L. FOSTER,
Agents
C. J.
Williams-Taylor
Throughout Canada
General
New York
G.B.E., Vice-Pres.
General Manager.
Eng.
$15,000,000
General Manager, Sir John Alrd.
MEREDITH, Bart., President.
Frederick
$15,000,000
President, SirEdmund Walker, C.V.O.,LL.D.,D.C.L
571,160,138
-
OFFICE. TORONTO
CAPITAL
RESERVE
Office—MONTREAL
articulars (7-20
Incorporated
WALL
-
2,090,440
UP
'
Head
Wood, Gundy&Co.
14
-
SIR CHARLES GORDON,
Sir
Toronto
20,000,000
-
Assistant
U. S. funds
Write for
-
UNDIVIDED PROFITS
Principal and interest payable in
•
-
SIR VINCENT
7% to 7i/2%
HEAD
.
PAID
BEST
These
$20,000,000
-
Head Office,
General Manager.
18,000,008
220,000,008
Halifax, N. S.
General Manager's Office, Toronto, Ont.
A.
New
E. AMES & CO.
74
Agency, 51 Broadway
300 branches throughout Canada, Newfoundland.
Cuba, Jamaica, Porto Rico, and in Boston, Chi¬
cago and New York.
Commercial and Travelers*
Credits issued, available in all parts of the world.
C. 8. Howard, Agent
London Branch, 73 Cornhill
8. L. Jones, Manager
Broadway, NEW YORK
Toronto
York
Montreal
Bills
on
Canada
negotiated
CANADIAN
AND
FOREIGN
United
EXCHANGE
BOUGHT AND SOLD
or
New
West Indian points favorably
collected
or
by our branches in
Correspondence invited.
States.
York
Agency, 52 Wall
the
Street.
H. F. Patterson, Agent.
TRAVELERS* AND
Canadian
Government,
ProvinCorporation
COMMERCIAL
-
LETTERS OF CREDIT
eial. Municipal and
London Joint City & Midland
-Correspondents
Bank, Ltd.
Royal Bank of Scotland.
in Great Britain
Bonds
Bought—Sold—Quoted
THE
GREENSHIELDS & CO.
Members
Dealers
Montreal
in
Stock
Canadian
17 St. John
R. C. Matthews & Co.
Exchange
Bond
Issues
ROYAL BANK OF CANADA
Established
1869
Street, Montreal
Capital Paid Up
$17,000,000
18,000,000
550,000,000
Reserve Funds..
Montreal
CANADIAN BONDS
Tramway 5s, 1941
Foundry 6a, 1939
Tramway 5s, 1935
Total
Canadian Car &
Head
and
Interest
and
All
Payable
In
New
Montreal
Office
SIR HERBERT S. HOLT, Prosident
Rio de Janeiro
Principal
Assets
E.
York
L.
PEASE, Vice-Pres. & Man. Director
C. E. NEILL, General Manager
i
Canada
Canadian
Issues
Dealt
In
TORONTO
C. (*. R. Bids.
670
Branches throughout CANADA
and NEWin
CUBA. < PORTO
RICO
REPUBLIC,
HAITI. COSTA
RICA, COLOMBIA and VENEZUELA, BRIT¬
ISH and FRENCH WEST INDIES, BRITISH
FOUNDLAND,
DOMINICAN
TRUAX, HIGGINS CO.
Lewis
Bldg.
Montreal, Cam
HONDURAS and BRITISH GUIANA.
Daly &
R. A.
Co.
CANADIAN
Corporations Ficosced
W
ARGENTINE—Buenos Aires.
BRAZIL—Rio de Janeiro, Santos, Sao Paulo.
URUGUAY—Montevideo.
SPAIN—Barcelona. Plaza de Cataluna.
LONDON
GOVERNMENT, MUNICIPAL
AND CORPORATION BONDS
B.„dt„„ra
BUFFALO
Bunk of Toronto Building
Underwritten
TORONTO, ONT.
OFFICE—Princes
NEW YORK AGENCY—68
F.
Street,
E.
O. 2
William St.
T.
WALKER, J. A. BEATSON, E. B.
McINERNEY and J. D. LEAVITT, Agents.
FRENCH AUXILIARY: The
Royal Bank of
Canada (France), PARIS, 28 Rue du
Quatre-Septembre.
ENTIRE STOCK ISSUES
PURCHASED OUTRIGHT
CORRESPONDENCE
MARK HARRIS
STOCKS and
Main Office
Canadian
INVITED
Municipal Bonds
Bought—Sold—Quoted
Royal Bank BMg.
Buffalo, N. Y.
SECURITIES
on
Request
FINCKE. BANGERT & CO.
Franklin Bank Bids.. Philadelphia
Canadian Branch
-
Offerings
Correspondence Invited
BONDS
SSatual Life Bldg.
CANADIAN
INVESTMENT
BOSTON
McDonagh, Somera& Co<
Dominion
Bank
NEW YOBX
Toronto, Ont.
TORONTO,
Building
CANADA
Thornton Davidson & Co.
FEDDE
&
PASLEY
Members Montreal Stock Exchange
:
Private
55
CANADIAN
Wires
New York, Toronto, Quebec, &c,
Cettltlrt Public Srceantanisi
BONDS
420-1-2 & 426
Liberty St.,
Transportation Building
MONTREAL, CANADA
New York
GEORGE W.
CANADIAN BONDS
MYER, JR.
Principal and Interest
Certified Public Accountant
31
NASSAU
ST..
NEW YORK
Audits, Investigations,
Estate
Accounting,
Income Tax Returns,
Telephone
Rector
5441
Payable In
New York
Thornton Davidson & Co. Lid.
Transportation Bldg.
81 St. Peter St.
88
Sparks St.
Montreal
Quebec
Ottawa
/Emilius Jarvis & Co.
INVESTMENT BANKERS
Established:i891
JARVIS BLDQ-
TORONTO, CAN.
[Vol. 110.
THE CHRONICLE
YI
tfcrelgn
Australia
New Zealand
and
LIMITED
BANK
WALES
NEW SOUTH
BARCLAYS BANK
LONDON JOINT CITY & MIDLAND
BANK OF
LIMITED
with which has been amalgamated the Londee
Provincial ft South Westarn Bank, Ltd.
(ESTABLISHED 1817.)
*19,000,000
fikhip Capital
HEAD OFFICE|
HEAD OFFICE
taMrre Fund.................... 16,000,000
Reserve
Liability
of Proprietor!... 10,000,000
5, Threadneedle St., London, E.C.I
^
^
and
166,000.000
OVER
Alirnatt Asset! 80th Sept. 1911—88314.8047
AGENCIES
and
BRANCHES
840
Paid-up Capital
tho world
£38,053,445
— —
10,797,195
—
Reserve Fund
AUTHORIZED CAPITAL
10,797,195
....
Deposits (Dec. 31st, 1919)
371,742,389
If. THREADNEEDLB
SYDNEY
STREET. E.C. 1
v'—~'
■
i
■
1
■
.
»-■>
EVERY DESCRIPTION OF BANKING
liny v
II
BUSINESS TRANSACTED
"
,
Incorporated 1889
i-
Foreign Banking Business of
Address
The Foreign Manager,
t
Undertaken
Description
Every
*7.800,000
-
E.C.2
66, Old Broad Street, London,
.•»»
TEE ONION BANK OF AUSTRALIA Limited
fapitsl—
Authorised and Issued..
aid-up Capital tl.800.000l
Tolaservo
Fund.. 18,870,000/aether
teserve Liability or Proprietors
168, Fenchurch Street,
"
■
London, E. C., England
*8,070,000
<8,000,000
Rt. Hon. R. McKENNA—Chairman
*10.070.000
Total Capital and Reserves
In
QUEENSLAND
Branches in VICTORIA. 80
9hs Bank has 41
SMW SOUTH WALES. 10 in
BELFAST BANKING COMPANY|LTD.
Over 110 Offices in Ireland
C
1««4 Office: 71 CORNHILL, LONDON, B.
WESTM1NSTE
AND PARR'S BANK LIMITED
LONDON COUNTY
Affiliated Banks:
59 IB BOUTH AUSTRALIA, 11 In WESTERN
AUSTRALIA. 8 In TASMANIA and 44 In NEW
¥9 Ah AND.
Manager—W. J. Xssazns.
THE CLYDESDALE5BANK
Assistant Manager—W, A. Lalng
ESTABLISHED IN 1836
LTD.
Scotland
Over 150 Offices in
Chairman: Walter Leaf, Esq.
THI
Deputy-Chairmen:
Sir Montagu
Commercial Banking Compam
leternationaf Banking Corporatinn
of Sydney
LIMITED
tfUorporaUA in New South
Reserve Liability of Proprietors
Branches in:
Java
sf
Japan
Panama
Philippine Islands
Ban Francisco
Bead
Office.
Sydney,
South
New
Blrchln
and
Raootvs Liability
Water,*
Fund and
Braosbss
Is
BELGIAN BRANCHES:
PARIS:
78 rue de la
NANTES:
Rennurb.
Cable Address:
R.
A.
Edlundb. 64
Foreign
i
ULSTER BANK LIMITED
All cheques on the Ulster Bank will be collected
for Customers of this Bank, free of Commission.!
Wall Strsst
The Union Discount Co.
Sanksrs to the Government In Brftlse
Africa and Uganda,
Paris
22, Place Vendome
37, Rue de la Republlque
22 & 24, Cours de l'lntendance
29 Rue Cannebiere
6, Rue Lafayette
AFFILIATED IN IRELAND
India, Burma, C*ykm, Straits Bottle-
Assncy,
FRANCE
Westminster &
Bank, Limited.
MARSEILLES:
BRUSSELS. Belgium
*750,000
€785,714
NATIONAL BANK OF INDIA limited
represented by Branches or Agents in aL
Principal Cities and Towns of the United King
The Bank is
the
dam and
of London, Limited
East
has Correspondents throughout the World•
EXECUTOR AND TRUSTEE DUTIES
8C CORNHILL.
Blshopsgate, London, B.^C.
India, Burma, Ceylen. British Bast
Uganda and at Aden and
Sansibar.
dead Office:!*.
UNDERTAKEN
Telegraphic Address. Uulsoo: London.
Ovanehes In
Africa,
County,
LYONS:
BORDEAUX:
Lol
SMmti. Podsratsd Malay Statas, China, and Mauritius.
York
Paseo de Gracia 8 & 10
Gran Via 9
AFFILIATED IN
London
London
Undivided Profits...
114 and 118, Rue Royale
MADRID: Avenida del Conde de Penalver 21 & 23
ROBERT BRUNNER
Subscribed. ..*l,Mt,fff
I75I.IM
—
41, Place de Meir
BARCELONA:
BILBOA:
Banker and Broker
of Sharsholdors
E. C. 2.
W. H. Inskip
Foreign Branch Office: 82, Cornhill, E.C.3.
Wales
Head Office
Authorized
Capital Paid Up
—
SPANISH BRANCHES:
Tfce Mercantile Bank of India Ltd.
Capital
—
J. C. Robertson,
ANTWERP:
Established 1879
15 Gracechurch Street,
.
Joint General Managers:
Street, B. C,
Lombard
Lane,
counts
BRUSSELS:
London Office:
tf,
(31st Dec., 1919.)
and other ac¬
£304,547,726
Deposit
Current,
F. J. Barthorpe,
Lyons
Remittances cabled.
aagstiated or collected.
8,750,000
—
Santo Domingo
London
Letters
and
demand,
en
8,503,718
Reserve
HEAD OFFICE: 41, LOTHBURY,
Straits
China
Ovodlt are issued by the London Branch on Iks
Head Office, Branches and Agencies of the Bant
£33,000,000
Capital
Paid-up Capital
Settlements
India
*4,040.061
payable
Authorized
600,000
Undivided Profits
*2,008,991
8,040,001
8,000,001
Reserve Fund
—....819.000,000
Surplus
Capital and
Wat*».
Paid-up Capital
R. Hugh Tennant, Esq.
Turner,
YORK CITY
55 WALL STREET. NEW
MttaitlWud 1884.
Drafts
*7,000,88*
*299,089,181
OVERSEAS BRANCH
65 &
Established 1887
*14,110,811
RESERVE FUND
DEPOSITS
8I0RQE STREET
*20,000,088
..
ISSUED CAPITAL
London Office
Head Office
1,400 branches In England and Wale*
over
Agents In all banking towns throughout
.
Subscribed Capital
States, New Zealand,
FIJI, iPapa*
(New Guinea), and London.
The Bank transacts
•vary description of Australian Banking Business.
WesS and ether Produce Credits arranged.
Australian
AND
/:
WALES
She
In
ENGLAND
OFFICES UN
1.450
K.B.E.,
RUSSELL FRENCH,
General Manager.
Si* JOHN
54, Lombard St., London, E. C., Eng.
Capital Authorised & Subscribed 810,000,000
/Subscribed
Capital
*1.000,009
Paid-up
Capital...... *1,800,000
Reserve Fund
*1,660.000
VPs Bank conducts every description of banking
and exchange business.
Capital Paid Up—
NOTICE
en
GUATEMALA,
Central
Coble Adress:
HEREBY
INTEREST
are
as
Par
GIVEN
allowed
that
tot
the
Eaglish Scottish and Aostralian Bank, Ltd
Head Office: 88 Lombard St., London, E. C. 8
Paid-up Capital
Farther Liability of Proprietors.
639.437 19
639.437 10
9
Reserve Fund
650,000
The
•
9
•
*1.078.876
0
9
dlsooonto
approved
bank
8111s Negotiated or forwarded for Collection,
anking and Exchange business of every d*
•eriptkm transacted with Australia.
*
M. J ANION, Managw
Sconto
Bancorlo Italians
and the
Raaarva
and
NUGENT. Manager.
National
Discount
Company, Limited
88 CORNHILL
LONDON. E. C.
Cable Address—Natdis London.
Remittances made by Telegraphic Transfer.
Di
incorporated tht
Lira 818,000,009
Capital Fully Paid Up
Days' Notloe, 654 Par Cant.
CHRISTOPHER R.
Sociota
ore
Qoclota Italian* dl Crodlto Provincial*
acceptances, reodvea money on de¬
posit at rates advertised from time to time; and
grants loans on approved negotiable securtties.
"Clermont"!
which
money
follows:
Cant.
Company
Italians
Bancs
with
mercantile
America
Subscribed Capital
6
At 3 to 7
Tho
IS
OF
deposit
At Call
BANKERS
8,000,000
...
...
15—£1 STERLING.
BATES
Clermont & Co.
8,000,000
Reserve Fund......
Subscribed Capital
821,166,625
Paid-up Capital
4,233,825
Reserve Fund
....
41,000,009
Fund...............
Daposit and Currant Accounta
"1,899,000,009
(May 11, 1919)
Cantral Management and Head Offlea:
ROME
Special Letters af Credit Branch in Bam*
(formerly Bebasti ft Reail), 20 Piassa dl Bpagna.
Foreign Branches: FRANCE: Paris. 2 Rue Is
Peletler angle Bould. des. I tall ens; BRAZIL: Baa
Paolo and Santos; NEW YORK: Italian Discount
fc Trust Co., 399 Broadway.
Offices at Genoa,
Milan, Naples. Palermo;
Turin.
Trieste,
Venice,
Florence.
Bologna,
Oataala, Leghorn, and over 100 Branches In the
Kingdom.
London Clearing Agents: Barclay's Bank, Ltd.)
188 Fenchurch Street, E.C.
SVKST
2,500,000
KIND
OF
BANKING
BUSINESS
TRANSACTED.
(55=£1 STERLING.)
Hong Kong & Shanghai
BANKING CORPORATION
NOTICE is hereby given that the RATES
INTEREST
as
allowed for
money
on
Deposit
OF
are
follows:
Banco
FaM up Capital (Hong Kong Currency)
815.000.000
6% per annum at call.
Reserve Fund/In Gold
836.000.000
5 H% at 7 and 14 days notice.
116,000,0001
tin Silver—831,006.000/
Reserve Liabilities of Proprietors
16,000,000
GRANT DRAFTS, ISSUE LETTERS OF CREDIT,
...
WHGOTIATB OR COLLECT BULLS PAYABLE IN
CHINA, JAPAN, PHILIPPINES. STRAITS 6ETF&WMENT8, INDIA.
WADE GARD'NER, Agent, 34 Wall Street
Approved Bank A Mercantile Bills discounted
Money received on deposit at rates advertised
time to time; and for fixed periods upon
specially agreed terms.
Loans granted on ap¬
proved {negotiable securities.
from
PHILIP
HAROLD
WADE, Manager.
Espanol del Rio de La Plata
HEAD OFFICE, BUENOS AIRES
London Office, 7 Fenchurch St., E. C. 9
Capital ft Rem ■ topi 141,215,765—£12333,47
All classes of Argentine,
Spanish and
European banking business conducted.
Jtjne 5 1920.]
THE CHRONICLE
foreign
vn
tforefgtt
SPERLING^ &
Jfottiqa
CO.
NATIONAL
Basildon House, Moorgate S8«
Head Office—Cairo.
Basque Natiooale de Credit
FISCAL AGENTS FOB
Capital
and
Hydro-Electric Companies
frs.
300,000,000
Surplus
Public Utility
frs.
63,000,000
Deposits
frs.2,100,000,000
Head
Established under Egyptian Law
June, 1898, with the exclusive right to
Issue Noteo payable at sight to bearer.
Capital, fully paid
£3,000,000
Reserve Fund..
Office:
£1,663,270
LONDON AGENCY
NBW TOBK AGENTS
PARIS
SPERLING & CO., INC.,
270 Branches In France
4 Branches In the Rhenish Provinces
Head Office MILAN
GENERAL BANKING BUSINESS
SSl.S00.00i
(mm Fundi
IN NEW
KING
WILLIAM ST.i
NATIONAL PROVINCIAL AID
UNION BAIL OF ENGLAND
Sll.M0.00f
AQENCY
7
LONDON, E. C., 4, ENGLAND.
THE
COMMERCIAL ITAUANA
Paid-up Capital
AND
8
188 BROADWAY.
BANCA
EGYPT
of
London, E. C.
BANK
YORK.
Llnltill
1M BROADWAY
(8*3-11.)
deaden Office 1 OLD BROAD STREET. I. 6.
Manager: B. Cental*.
Wilt End
Agency and London Office ef the
Italian State Railways. IS Water!** Plata.
Regent St.. S. W.
SUBSCRIBED CAPITAL
Union Oe
Banqnes Suisses
Formerly Bank in Winterthur
Toggenburger Bank
est.
-
887.114,008
RESERVE FUND
■
881.0*9.000
-
1862
1863
est.
•181,"TO .008
PAID-UP CAPITAL
Head Office:
errespondents to the Italian Treasury.
04 Branches In
Italy, at all the
prlnolpal points In the Kingdom
ik
"Representatives In New York and Agents
Italy" of the Banque Francalse et Itallenne
sour
Capital, fully paid
Reserves
Ay res.
Zurich,
Frs
70,000,000
with
W nterthur,
St. Gall
Offices In
numerous
15,000,000
and
de Janeiro, San Paulo.
Socleta Commercials
ROTTERDAMSCHE
BANKVEREENIGING
Lausanne
and 19 other Branches.
d'Orients, Tripoli.
Rotterdam
STANDARD BANK OF SOOTH AFRICA, Ltd
ES
Documentary
Capital
S50.000.000
.
Subscribed Capital
Credits.
Bills
Collected.
1
Traveler*' Letters of Credit, &c.
CAPITAL
Paid-up Capita! & Reserve Fund S18.81S.500
Total Resources....
8304.1X6.415
and
Agencies
throughout
H. MACINTYRE. Agent
W.
88 Wall St..
New York
Alee representing The Bank of New South
Wales with branches throughout Australasia.
LEU
and CO/S
BANK,
limited
ZURICH, (Switzerland)
Founded
1755
OF
FOREIGN
EXCHANGE
PURCHASE AND
Pald-Up
Capital
Reserves
and
-
-
-
$20,000,000 00
-
Arnold Gilissen & Co.
Offers te American banks and bankers Its tuperier
Cable Address
New York Agency
EL
10 Wall St.
-
-
E. SAUNDERS,
Telegraphic Transfers Effected.
Royal Bank of Scotland
Booking and Travel Department.
Paid-up Capital
Rest and Undivided Profits......
No. 458, Tamplco
Tarns.uii pas. Mexico
Membert
of toe
American
Banker?
£35,148,883
Deposits..
Head Office
•
Kong, Paris. Barcelona and Madrid.
HAGUE
St. Andrew Square,
EXCHANGE
FOREIGN
£8,000,000
£1,082,870
BANK OF BRITISH WEST AFRICA, LTD,
Edinburgh
Cashier and General Manager: A. K. Wright.
AeeociatUm
Offers every banking facility.
Payments and
oollectlons made and Drafts sold on all parts of
Mexico and the United States. London, Hong
THE
1871
BANKERS AND STOCKBROKERS
Inoerperated by Reyal Charter. 1727.
Box)
Achilles-Amsterdam
Established
Exchange Negotiated and Collected
PETROLEUM BANKING & TRUST CO. S. A'
:
ROTTERDAM
Agsnt.
Drafts and Letters of Credit Issued.
(p. O.
Damrak
80-81
AMSTERDAM
between this eeuntry and Africa.
Frs. 52,600,000
NESS TRANSACTED.
Apartado
SALE OF
SHARES
STOCKS AND
facilities far the extension ef trade and eem-
EVERT DESCRIPTION of BANKING BUSI¬
Bills of
CREDIT
LETTERS
of SOUTH AFRICA, Ltd.
Over 400 Branches la Africa
FUND....F.105,000,000
COLLECTIONS
The NATIONAL BANK
meroe
Capital Paid up and]
Reserve Fund..
J
AND
RESERVE
S31.S50.000
Over 850 Branches
eeath Africa.
Amsterdam
The Hague
Foreign Exchange
HEAD OFFICE. LONDON. E. C.
Authorised
England
Wales
Basle, Geneva,
Rio
Santos. &c.
-
..."
1'Amerique du Sud.
Sctnos
15. B1SH0PSGATE, LONDON, ENGLANI,
Authorised Capital ..............810.000.000
Subscribed Capital
7.880,000
Capital (Paid Up)
8.800,000
Surplus and Undivided Profits....
1,880,100
Branches throughout Egypt, Morocoo,
West Africa and the Canary Islands.
..............
8 Blshopsgate, E.C. 1
Manager: Wm. Wallace.
London Office
.
Glasgow Office
......
.
-
Exchange Square
Agent: A. Dennistoun.
Head Office, 17 Be 18 Laadenhall St., London, B. G.
Manchester
Office,
1S4-108
Portland
Stress
Liverpool Office, 25 Water Street
270 Branches Throughout Scotland.
R. B. APPLEBY, Agent, 0 Wall Street. New
CREDIT
SUISSE
Tori.
Every Description of British, Colonial and
Foreign Banking Business Transacted.
Corretpondenc* Irurited,
Established 1856
Ionian
Bank, Limited
Incorporated by Royal Charter.
every banking facility for trsnaactloa
with Greece, where it has been established fo»
80
years,
and has Branches throughout lbs
Country.
Also
at Alexandria,
Cairo, &e.i in Egypt.
Head Office: Basildon House.
Moorgate Street,
LONDON. B. C. I.
Offers
Capital paid &ip..frs. 100,000,000
Reserve
Funds._frs.
30,000,000
Adrian H. Mullcr & Son
HEAD OFFICE
AUCTIONEERS
Zurich, Switzerland
OFFICE
No. 88 WILLIAM STREET
THE COMMERCIAL BANK0FSC0TLAND, Ltd
Established
Head
Corner Pine Street
Branches at Basle, Berne, Frauenfeld,
Geneva, Glarls, Kreuzlingen, Lugano
Lucerne, Neuehatel, St. Gall.
GENERAL
BANKING
BUSINES,
Regular Weekly Sales
or
—
—..£5,500,01
Paid up—
1
350,000 "A" shares of £20 each £5 paid...£1,250,OS
500.000 "B" shares of £i each fully pald..£ 800,OPS
*
£1,7541,DOS
8TOCK8 and BOND8
EVERY WEDNESDAY
Foreign Exchange
At the Exchange Sales Rooms
Documentary Business, Letters of Credit
14-10 Vasey Street
1810
Office—EDINBURGH
Capital (Subscribed)
Reserve
fl.000.000
4LEX. BOBB. Gen. Mgr.
Deposits
£3e',07l!l«f
MAGNUS IBV1NE, See.
London Office—62 Lombard Street, E. O. 3.
Glasgow Office—113 Buchanan Street.
Drafts. Circular Notes and Letters of Credit issued
and every description of British, Colonial ana fonMa
Banking and Exchange business transacted.
Net- Bank
New York Agents—American Exchange
[VOL. 110.
THE CHRONICLE
mi
JBsntaft an& JSrofett* onttfte ,#tto jgatt
•T.
CHICAQO
CHICAGO
LOUIS
TILDEN & TILDEN
Incorporated
A. G. Edwards
Sons
Dodge & Ross,
New York Stock Exchange
St. Louis
ST.
08 Wall St.
CHICAGO
Bonds and Preferred Stocks
NEW YORK
LOUIS
198 SO. LA SALLE STREET
Specializing in
Stock Exchange
Olive St.
410
INVESTMENT BONDS
(INCORPORATED)
INVESTMENT BANKERS
Members
of
Service
Public
Industrial
and
SCOTT & STITT
INVESTMENT SECURITIES
111
Corporations
MUNICIPAL
)
CORPORATION
BONDS
111 West Monroe
I
W. Monroe Si.
CHICAGO
Street,
CHICAGO
INDUSTRIAL
PREFERRED STOCKS
Greenefcaum Sons
BONDS
TIMBER
Rank andTrust Company
$100,000
Pima
Road Bond*
Assessed
1928 to
St*.
ofunderlyingassetc
La Salle and Madison
-southeast Coruer
County, Arizona
Doe Serially
based always 115011
expert verification
GENERAL
9% CHICAGO FIRST
1944
suitable for Estates,
Valuation, 1919...040,122
Total Bonded Debt (Incl. this
Issue).—
and Surplus,
Capital
1,828,018
$2,000,000
332 so. Michigan Av,, Chicago
MORTGAGE BONDS
Individual*
Trustees and
Write for Bond Circular C 25.
CINCINNATI
Oldest Banking House in Chicago. A State Bank
$250,000.00
Population—88,788
approved by Bon. C.
Legality
B.
Wood,
of Wood A Oakley, Chicago. III.
AKRON, OHIO
A. O.
Slaughter & Co.
5^%
SCHOOL
Members
Price* to Yield 5.25%
BOND
!•"
-—
BANKING
New
York Stock Exchange
yield 8 1-8.
FINANCIAL STATEMENT.
Assessed valuation
$279,300,708
Net debt.....—.
5,896.000
Chicago Stock Exchange
Chicago Board of Trade
DEPARTMENT
BONDS
Due 1922 to 1936 to
——
-
Mississippi Valley Trust Co.
110 WEST MONROE STREET
Population 200,000.
CHICAGO, ILL.
The Provident
ST. LOUIS
Savings
Bank & Trust Co.
Lorenzo E. Anderson & Company
Radon,
Investment
310 N. 8th St., St. Louis.
Municipal & Corporation Bonds
Members Chicago Board of Trade
St. Louis Merchants Exchange
St. Louis Cotton Exchange
St. Louis Stock Exchange
J. Herndon Smith
Charles W. Moore
William H. Burg
Securities
ROBERTS
111 West Monro • Stroot
New York Stock Exchange
New York Cotton Exchange
CHICAGO
INVESTMENT SECURITIES
Powell, Garard & Co.
39 South
La
CINCINNATI
809
OLIVE
ST.,
Now York
Philadelphia
ROAD
St. Loots
ST. LOUIS, MISSOURI
CHAS. S. KIDDER & CO.
ST. LOUIS
/Investment Bankers
MARK C. STEINBERG & CO.
Members New
York
Stock
OHI©
Greenwood County, S. C.
Salle Street
Chicago
INVESTMENT BONDS
HALL
A
(New Yerk Stocx Bxchang*
Member*{Chicago Beard ef Trade
[Cincinnati Stock Exchange
INVESTMENT SECURITIES
SMITH, MOORE & CO.
Bond Department
CINCINNATI, OHIO.
French^ Co.
100
S% BONDS
and
Interest
Weil, Roth & Co.
NEW YORK
CINCINNATI
CHANNER & SAWYER
Established 1891
INVESTMENT SECURITIES
Exchange
Members St. Louis Stock
Exchange
108 South La Salle St.
CHICAGO
Union Trust Bids.,
CINCINNATI, OHIO
300 N.
Broadway
ST. LOUIS
Members St. Louis Stock
TAYLOR. EWART
GO.
Exchange
Ohio Securities—Municipal Bonds
New York Stocks sad Bonds
INVESTMENT BANKERS
STIX & CO.
808 OLIVE ST.
Municipal, Railroad and Public
Utility Bonds
ST. LOUIS
IN
INVESTMENT SECURITIES
CHICAQO
Investment Securities
DEALERS
108 5outh La Salle Street
IRWIN, BALLMANN & CO.
828-880-882 Walnut St.
TatEPO
Munlelpal and
TUCKER, ROB I SON &,CO
Corporation
CINCINNATI. OHIO
Driii no
OUNUO
EDGAR
Successors te
David BeMseu Jr. A Sen*.
Banker*—Established 1878.
.
£
SHAPKER, WALLER & CO
18
SOUTH LA SALLE STREET
IN
Cincinnati Securities
CINCINNATI
ORIS
BaMroad ^BBs^E WWVV8 S*%PS ^^Mae8**n
and CurBonfltn
ES^OvOS
CHICAGO
Toledo end Ohio Securities
tardatr
FRIEDLANDEB
DEALER
Butldlna.
SPRINGFIELD.
TOLEDO. OHIO
John Bornham & Co.
Graves,- Blanchet & Thornburgh
High Grado Investment Se¬
curities,
MUNICIPAL BONDS
Convertible
Not*
Issue*, Bonds, Bank Shares*
Unlisted Securities.
GARDNER BUILDING
TOLEDO, OHIO
41
Matheny, Dixon, Cole & Co.
Ridgely-Farmers Bsok Bids*
SPRINGFIELD.
ILLINOIS.
Illinois Municipal Bonds
and
South La Salle St*
CHICAGO
ILL.
first
Mortgage farm Loans*
June 5
THE CHRONICLE
1920.]
Sanfcet* anb Brokers ©uttfibe
PITTSBURGH
Members of Detroit Stock
Charles A. Pa reel Is A Co.
Inquiries
Solicited
Carried
on
In
All
Markets.
Stoeks
Conservative Margins.
INVESTMENT SECURITIES
Securities of Pittsburgh District
lit
Pennsylvania Municipal Bonds
Geo. W. Eborhardt & Co
OLIVER BUILDINO.
Congress BIdg.
J.
i.
E.
Board
A
Company
MICHIGAN SECURITIES
.
Members Detroit Stock Exchange
Richard Brand
PENOBSCOT BUILDING.
DETROIT
Securities
1721-3 Dime Bank
BIdg., Detroit
MASTEN & CO.
Members New
York
Boston
Stock Exchange
Exchange
Stock
GORDON, FORTIER &CO.
WHITTLESEY, McLEAN & CO.
Investment Securitiea
Municipal Bondt Corporation Bonds
Pittsburgh Stock Exchange
Chicago Stock Exchange
Chicago Board of Trade
New York Cotton Exchange
823 Fourth Ave.,
Suite
Pittsburgh, Pa
Branch Office:
■atlonal Bank of West Virginia Building
Wheeling, W. Ve
1818,
Dime
Bank
Preferred Stocks
Building
Telephone Cadillac 6050
DETROIT
Active Members of Detroit Stock Exchange
MICHIGAN
8084-86-88 Penobscot BIdg.,
Motor
F.N.Boyle & Company, Inc.
Successors
L. J. DAWES & CO., INC.
to
MATTERS
FINANCIAL
Union Arcade
W.
A. HAMLIN & CO,
All
Motor
DETROIT
Stocks
and
Members Detroit Stack Exchange
Michigan Securities
Burdick-Thomas
Stocks, Public ^Utilities & Oils
Members
Pittsburgh, Pa.
Carson Dick & Company
WITLING,
BIdg..
DETROIT, MICH
LERCHEN
Company
Detroit Stock Bxchangs
858*881
1018 Penobscot
.
Company
Detroit
We invite your inquiries.
Specialize InSMlchigan Stocks and Bond*
Trade
of
PENOBSCOT BUILDING. DETROIT, MICB.
Specializing
BOUGHT—SOLD—QUOTED
Members Pittsburgh Stock Exchange
A.
Hood
PITT8BURQB
and Provisions
Members Chicago
DETROIT, MICH.
(Established 29 Years)
Stocks, Bonds, Grain
Members New York Stock Exchange
Exchange
Members Detroit Stock Exchange
BANKERS
Cummonweelth BIdg.,
£ttta
tSootw, fetoan & Cbtoarba Co.
LYON, SINGER A CO
INVESTMENT
IX
Penobscot
BIdg.,
DETROIT
& COMPANY
MICHIGAN
KAY
& CO.
Inc.,
Michigan Municipal Bo tda
INVESTMENT BONDS
Local
Corporation
Bonds
and
INVESTMENT BANKERS
Stocks
ISO-SH UNION ARCADE BUILDING
Penobscot BIdg.
Member< Detroit Stock Exchange
PITTSBURGH. PA.
DETROIT
KANSAS
GRAND
DETROIT, MICH.
Members Detroit Stock Exchange
RAPIDS
CITY
'. C. Sylvester Inv. Co.
DANSARD-HULL-BUMPUS COMPANY
GEORGE M. WEST & COMPANY
INVESTMENT SECURITIES
Investment Bonds
47 Congress St.,
Kansas City Securities
Established
Weet
INVESTMENT
1893
BANKERS
DETROIT
UNION TRUST BLDG.
8St Baltimore
Kansas City. Me
STREET & COMPANY
Members
Members Detroit Stock Exchange
FENTON, CORRIGAN & BOYLE
k-unlclpal ft Corporate Bonds
DETROIT, MICB
Slock Bxchangs.
A. We Wallace &
Company
Investment Bankers
INVESTMENT
Local Securities
Chicago
Kansas City
Detroit
Missouri
Detroit
Grand Rapids
Underwrite and distribute entire issues
of Industrial and Publio
BANKERS
Penobscot BIdg.
Utility seouritief
DETROIT, U1CB
Tel. Cberry 2809
BUFFALO
Loew's Buffalo Theatres
Preferred and Common Bought and Sold
KEANE,
HIGBIE
&
CO. Allen G. Thurman &Co.
Canadian and Western New York Securities
«T GR1SWOLD ST.
DETROIT
Ellicott Square, Buffalo,
JOHN
N. Y.
STEELE
T.
Members Detroit Stock
CLEMENT.
801*8 Dime Bk.
CURTIS
be
New York Securities
CO..
408 Gr.
BIdg.
Stock, and
Michigan
Flint
Trust
Bonds
BIdg.
MICH.
Saginaw
Muskegon
Chicago
F. C. ANGER & CO.
Investments
Rep. Sav. BIdg.
Grand Rapid.
Detroit
SPECIALISTS IN
Buffalo end Western
Unlisted
Floor,
Exchange
VAN BMBURGH A ATTEBBUBY. New York
Government, Municipal
and Corporation Bondt
and
GRAND RAPIDS,
G. M. DEAKIN & GO.
Correspondents
BUFFALO, N. Y.
Listed
Ground
Slocum, Eckardt & Company
410
Bankers and Brokers
MUNICIPAL BONDS
Specialists in
1168*64 Penobscot Building,
DETROIT, MICH.
Detroit is the market for
DETROIT MOTOR STOCKS
IRVING
T. LESSER
Reo
•
Paige
Continental &
STOCKS AND BONDS
BUFFALO. N. T.
Ford
JOEL STOCKARD & CO.
Members Detroit
475 EUleott Square
•
Packard
8tock Exchange
WEBB, LEE A CO.
Members/Detroit Stock Exchange
\ Chicago Board of Trade
Correspondent.
THOMSON & McKINNON
DETROIT. MICH.
830 Penobscot Big. National Union Bank Big.
NE WAR
K,N.J.
DETROIT, MICH.
COLUMBUS
JACKSON, MICH.
CONSERVATIVE
CLAUDE MEEKER
INVESTMENT SECURITIES
Investment Securities
List upon reeuest
Specialist la Cities Service Issues
S
last
Broad
St.,
71 Bresdvay,
COLUMBUS, O.
NEW
YORK
CITY
HARRIS, SMALL & LAWSON
INVESTMENT SECURITIES
F. M. CHADBOURNE &CO.
FIREMEN'S INSURANCE
NEWARK,
BUILDING,
N. J.
44 CONGRESS
ST., W
DETROIT
[VOL. 110
THE CHRONICEL
z
gorfe
JEtanfeenc an& JBtofeens ©utsibe
PACIFIC
PACIFIC
COAST
Howard Throckmorton
CALIFORNIA
DENVER
COAST
Pacific Coast Securities
SECURITIES
Boettcher, Porter
BONDS
&
•t HTJNIC IPALITIK3 AND
{Government
Municipal
Corporation
CORPORATIONS
\
Company
INVESTMENT BANKERS
Sarin* substantial assets
San Francisco
Commercial
Alaska
and
earning pewev
Building
COLORADO
DENVER
Quotation!
Purnlihad en
Information
and
WILLIAM R. STAATS CO.
LOS ANQELES
Fteiflo Coast Securities
"
SUTRO &
PASADENA
SAO FRANCISCO
Established 1865
WESTERN SECURITIES
CO.
Sugar Stocks
INVESTMENTXBROKERS
Members
Ban Franciace Sleek
fan Pranclsco
ftlO Montsomenr St.
BROWN & CO.
F. M.
Blankeahorn-Honter-Dalia
Investment Bankers
DENVER
Company
DEALERS IN
POWTLANP,
Municipal and Corporation
MUNICIPAL
CORPORATION
BONDS
109 Sansome Street, Corner California
SAN
AND
DAMnC
DISTRICT
DVJiNLO
FRANCISCO, CALIFORNIA
Securities
MUNICIPAL BOND HOU3B
CAPITAL ONE MILLION DOLLARS
SAN
LOS ANOELES
FRANCISCO
SAN DIEQO
PASADENA
and
Company
Morris Building
PORTLAND, OREGON
-
Building
•
SEATTLE. WASH.
COMPANY
A
HALL
California
Los Angeles,
Bonde
Municipal
Established over a Quarter Century
No. t, Central
Aronson and
QBE,
MORRIS BROTHERS, Inc.
THE PREMIER
Government
California
Specialty
GREGG, WHITEHEAD & CO|
Exchange
Bend
and
a
We
specialize In California
Municipal & Corporation
INVESTMENT BONDS
BONDS
CLEVELAND
Local and
DRAKE, RILEY & THOMAS
The Gnndling-JonesCompany
LKWIS
Paolfle Coact Seourltlsi
PORTLAND,
BUILDINO
ORKQOR
Van Nuys Building
LOS ANGELES
DULUTH, MINN.
STOCKS-BONDS-NOTES
BANGOR BUILDING,
CLEVELAND
Private Wires Coast to Coast
Correspondents Logan
Bryan
an
MINNESOTA SECURITIES
Railroad, Municipal
A. H. Woollacott & Co.
OTIS & COMPANY
and
Corporation Bonds
Stocks, Bonds, Grain, Cotton
Investment Bankers
W. M. Prindle & Company
ttStei I. W. Hell man Building
Members of New York, Cleveland, Chicago,
Detroit and Columbus Stock Exchanges,
LOS ANGELES
Duluth, Minnesota
New York Cotton Exchange.
Chicago Board of Trade.
INDIANAPOLIS
CLEVELAND
Boston
Cincinnati
Detroit
Toledo
Columbus
Youngstown
Akron
Denver
TORRANCE, MARSHALL & CO.
Fletcher American Company
Colorado Springs
California Securities
INDIANAPOLIS
.Ohio Securities
LOS ANGELES
BOUGHT
SOLD
CALIFORNIA
QBOTED
fORTHINGTON, BELLOWS & CO.
MsmtotfNew
York
Stock
Exchange
I Cleveland Stock Exchange
Guardian Building
Stocks
E.
LEWIS
&
Write
CO.
■unlcipal, Public Utility, Railroad and
Corporation
CLEVELAND
Bonds
A.
Acceptances
BONDS of the PACIFIC COAST
Security Bldg.
Unincorporated
R. H. MOULTON & COMPANY
CALIFORNIA
MUNICIPALS
Tltla Insurance Building.
CLEVELAND
BUFFALO
(Of Euclid Arc,
Niagara Life Bldg.
American
ai
-
11,500,000
for bids or offerings on any
Indianapolis
or
Indiana Seourlty.
itatittical Information Purnlthtd
Los Angelas. Cel.
SHORT TERM NOTES
RITTER COMMERCIAL TRUST
Capital
LOS ANOELES
Natl Bank Bldg.. San
Francisco.
BREED, ELLIOTT & HARRISON
INDIANAPOLIS
fllnsftnnat!
Detroit
Chicago
Mile—Ma
Investment Securities
Municipal Bonds
Traction, Gas and Electric
CLEVELAND SECURITIES
Akron
Rubber Stocks
MAX I. KOSHLAND
Pacific Coast Securities
The Union Trust
Member
Roland T. Meacham
Sea Francises Stack and Band Exchange
Member Cleveland Stock Exchange
Guardian Building,
Mills
Company
Bonds and
Short Term Notes
Stocks
Bought and Sold
tll-858 Montgomery Street.
FRANCISCO. CALIF.
Stocks
Information
and
NEWTON TODD
nd Bonds
Quotations
on
all
Pacific
Coast Securities.
CLEVELAND
Company
DEPARTMENT
Indianapolis Bank Stocks
Local Public Utility Bonds
Indiana Municipal Bonds
CHAPMAN DE WOLFE CO.
SAN
Investment
BOND
INDIANAPOLIS
Building
SAN FRANCISCO
Cleveland
Hunter Glover &
Lighting Bonds and Stocks
Members San Francisco Stock 8c Bond Exchange
Local Securities and
Indiana Corporation Bonds and Stocks
415 Lemcke Bldg.,
INDIANAPOLIS
June 5 1920.]
THE CHRONICLE
XI
3§«&et* attb Prober* ©uttfee iHeto gorb
MARX
& COMPANY
BANKERS
BIRMINGHAM.
Southern
-
BONDS
Graham. Parsons & Co.
STOCKS
SHORT-TERM
NOTES
4152CHESTNUT ST.
PHILADELPHIA
-
Municipal
and
Parsly Bros. & Co.
1421
NEW
YORK
Investment Securities
BANKERS
Corporation Bonds
IIS BROADWAY
STREET
CHESTNUT
PHILADELPHIA
Deal In and Purehaee
.
CHATTANOOGA
Issue* of
MEMBERS
PHILADELPHIA STOCK
EXCHANGE
MUNICIPAL BONDS,
LEWIS BURKE & CO
BONDS, NOTES AND PREFERRED STOCKS
of
LOCAL AND
Established 1865.
SOUTHERN
RAILROADS, UTILITIES
AND
INDUSTRIAL CORPORATIONS
SECURITIES
BlOREN*&OtB-
of
ESTABLISHED VALUE
BANKERS
lanes BsSdtai
CHATTANOOGA
410 Chestnut St.
Philadelphia
Cable Address "Grace.** (Philadelphia
Government,
HOUSTON
Municipal, Railroad and
SHERWOOD & KING
Specialists in Texas Securities
Humble Oil &
Public Utility Securities.
Membert New York and Philadelphia
Stovk Exchangee.
mmnm
Refining Co.
Higgins Oil & Fuel Co.
BANKERS
HOUSTON. TEXAS
[American Bankers Ann.
Membersj Texas Bankers Assn.
JOSEPH W. GROSS
321
I Houston Gotten Exchange
Cfieatnut St., Philadelphia
Hydro-Electric Securities
BetablUhed 1837
■ACON
*
*
-
-
a eeww* ~.^l^lrvvvvvv^l/^<v^r^AnnJr-AJ-^-'
14S1
CONTINENTAL TRUST
C0MPAN1
CHESTNUT
STREET
PHILADELPHIA
PA.
Members New York and Philadelphia
Southern Municipal Bonds
Stock Exchanges
AND
AUGUSTA
Guaranteed Stocks
BACON
WANTED
GEORGIA
M£€owtif.C^
City of Augusta, Ga., Bonds.
SFABTANBURQ,
S.
C.
Membere
A. M.
LAW & CO., Inc.
JOHN W. DICKEY
Masonic BIdg.,
DEALERS IN
Philadelphia Stock Exchange
INVESTMENT BANKERS
Augusta, Ga,
Land Title Building
PHILADELPHIA
Stoeks and Bonds
Soothers
Textiles
s
New York Telephone Canal 4848
Specialty
WM. E. BUSH & CO.
NORFOLK
$200,000
Augusta, Ga.
SPARTANBURG, S.
Lycoming County, Pa., Tax]Free^5s
C.
SOUTHERN
SECURITIES
COTTON MILL STOCKS
MOTTU
$100,000 due May 15,1930
100,000 due May 15, 1940
VA.
l«eMMAeAMMAMiV>^AWIA'yiA>V»VWWiaWAWWVVV'yyvvvvi<Vwvvv'v»w>.
&
to return 4.80%
4
M. M. FREEMAN & CO.
CO.
421
1891
Chestnut
Street
P P Philadelphia
Telephone, Lombard 710
NILWAUKEI
0OKFOLK. VA.
NEW
YORK,
•9 Broadway
INVESTMENTS
EDGAR, RICKER A CO.
East Water and Mason Streets
KILWAU
IE. WIS.
LOUISVILLI
^rv%v^%vvvvvvvvvvw..
BONDS
FOR
Specialising!
JOHNSTON A COMPANY
Frederick Peirce
WISCONSIN CORPORATION ISSUES
1411 Chestnut Street,
INVESTMENT SECURITIES
Paul Jenss Bids.
LOUISVILLE. KY.
INVEST
& Co.
MENT
Philadelphia
MINNEAPOLIS
Second Ward Securities Co.
Second Ward Savings Bank Bldg.
John W. & D. S. Green
MILWAUKEE
111 South Fifth St..
ESTABLISHED
108 S.
Louisville, Ky.
La Salle St.
CHICAGO
Dealers in all high-grade securities.
Continuously In Brokerage business
since 18f8.
Both telephones 88.
H)lo"
TTUNTCIPAL RAILROAD
v
'corporation bonds
1
commercial papeil/ ^
Specialists in
Wisconsin
„
MINNEAPOLIS
ST.RAUL
Municipals
and
Henning Chambers & Co.
High Grade Investments
INVESTMENTS
MeKnlght Building
MINNEAPOLIS
Members New York Stock Exchange
404 West Main Street..
JUSTUS F. LOWE COMPANY
'Specializing in
LOUISVILLE, KY.
MINNESOTA CORPORATION ISSUES
&Co.
MONTGOMERY
CURITIES
f IBST WISCONSIN
B. W.
SOUTHERN
MiLWAUKK.W&
NATIONAL 8ANK 6LOG
Strassburger
INVESTMENT
Mantgamory, Aim
Underwriters and Specialists in
Wisconsin
SECURITIES
Write
our
VB WILL BUY
Minnesota ft Ontario Pow. litis
Powell
River Company 1st
ts
Red River Lumber Co. 1st is
Minneapolis St. Ry. Extended?
Issues
Trading Department.
WELLS-DICKEY COMPANY, MbeeapA
■;
*n
.
■
THE CHRONICLE
■
[Vol.110.
financial
yitumttel
We Own and Offer:
Subject to Prior Sale?
Prosperous Electric
$100,000
Board of Education
oflCIovis, New Mexico
and Gas
5K% SCHOOL BUILDING BONDS
D»t«d January 1, 1920
Opt.
January 1, 1940
Due
January 1, 1950
Aeeeaeed valuation, 1119..
Total bonded dabt
Population
(estimated)..
—
described
new
Price: 103.70 and interest yielding 5.20%
Full Circular on Request.
Bos worth,
will
be
deeply
interested in the story of success
IS,TOO,000
111,000
8,500
-
Companies
INVESTORS
illustrated
and
illustrated
24-page
in
a
book-
-g'let. on
Chanute & Company
Standard Gas & Electric
Investment Bonds
DENVER
Company
■
which
will
be
sent
free
re¬
on
quest.
H. Mountague
Vickers
Ask
for Booklet CC-15
BONDS
,
Founded
Tel. Han. CIT0
1797.
49 Wall St.
fLALByllesby & Co.
Incorporated
GUARANTEED STOCKS
Investments
Mechanics & Metals Nat'1 Bank
30 Pine Street
208 S.LaSalle St
^Pruvidcnce^
lOWeybosset St
Boston
30 State Street:
Lincoln Trust Rights
Mortgage Bond Co.
I
Glover & MacGregor
New York
FRANK J.
71 Broadway
Tel.
845 Fourth Ave.,
DILLON
M.
NEW YORK, N. Y.
«4ftQ Bowling Greea
We
Central New York Securities
Water
Consolidated
Water Id
let
System Securities
Gulf Oil Corporation 6s
Am. Fruit Growers 7s
Specialize in
PEERLESS TRUCK & MOTOR
6s, 1925
Sa
0*
Liberty Bonds
WARE & TRANTER
Utfea Gas A Electric Ref. la
Bonds of German Cities
(Jtlea Electric Light & Power 1st Is
Utlee Steam A Mohawk Val. Cot. Cow.
Watertown Lt.
PITTSBURGH, PA.
Amer. Wat. Wks. & Elec. 5s, 1934
West Penn
Consolidated
Chicago
NewVbrk
111 Broadway
Seasoned
Members New York Stock Exchange
61
Broadway, N. Y.
Tel. Bowl. Green 10090
A Power Co. 1st Is
Argentine Government 5s
French Govt. 4s & 5s
Italian Government 5s
fiubvk Valley Investment Corp
New York & Honduras
INVESTMENT BANKERS
III Ganesee Street
Japanese Govt. 4s & 4%s
5100 and 5500 Bonds (all kinds)
Rosario Mining
Utlca, New York
Registered Bonds
Railroad Bonds
KIELY & HORTON
40 Wall St.,
W. W.
N. Ye
Phone John 6330
Lanahan & Co.
New Jersey
thoettment
Royal Typewriter Stocks
(New Yerk 8teck*Exehenc«.
1 Belli mart* Sleek Bx«duuage.
J.S. RIPPEL A COMPANY
Oslrert
Building,
Beltlmori
11 CLINTON STREET
Tsievbon* si. Paul 1771
We
Securities
ALFRED F. INGOLD&CO.
Specialize in
located
Bought—Sold—Quoted
NEWARK, N. J.
Rector 8991
74 Broadway, N. Y,
COAL AND CO CE
Is tin I hum of SecwritUi N§ootiatt4
Tel. Broad 7740
Municipal Bonds
Descriptive Lift on R^aneet
BeaatMM
Hartshorne & Battelle
25 Broad St.
in
Pennsylvania
and West Virginia.
r.t MAG RAW
L Lsscaster Williams & Co., toe.
F.N.
successors
,
INVESTMENT SECURITIES
Boyle & Company, Int.
.
to
L.
J.
Dawes
A
Company,
Pittsburgh, Pa.
SHELL RIGHTS
.
.
.
BONDS
Oemmersial
Paper
thecal SMttrifeiec ef «h« Twin Cities
Equitable Building*
■AfcTMORK
CORPORATION
Inc.
MATTERS FINANCIAL
Union Arcade
AND
|40NIOIFAI>
MARTLAKS
...
.
,
Globe Building
ST. PAUL, MINN.
....
Bought—Sold—Quoted
PROCTER & GAMBLE CO.
losrpfc WLnVkex & S>ans
_
INDIAN
REFINING CO.
Westheimer & Company
■embers of ths
Yerk
Stock
Cincinnati
Stock
New
Chiceso
Board
Baltimore
Stock
Member* 2V«e York Stock Exchange
New York
Broadway
we wish to buy highgrade
pennsylvania
Boenning, Garrison & Co.
Trade
Exchange
CINCINNATI, OHIO
BALTIMORE; MD.
Direct Private Telephone to Berdell'Bros.. N. Y.
COMMERCIAL PAPER
INVESTMENT SECURITIES
.■
*
■
■*'
I.
187 South La Salle Street
CHICAGO
Members Philadelphia Stock Exchange.
Stock Exchange Building,
PHILADELPHIA.
t
A. G. Becker & Co.
tax-free securities.
Exchange
Exchange
of
<1
NEW YORK
SAN
ST.
FRANCISCO
LOUIS
June 5 1920.]
THE CHRONICLE
zm
Cuzxtnt JBonb Sttqtilde*.
Am. Water-Works & EL
5s, 1934
Assoc. Simmons Hdw. 7s, 1925
Brazilian Trac., L. & P. 6s, 1922
Grand Trunk Pacific 3s, 1962
Northern New York Power
6s, 1932
United Light &
Railway 5s, 1932
Woodward Iron 5s, 1952
Cleveland Metal Prod. 7s, 1930
Duquesne Light 6s, 1949
Inland Steel 6s, 1942
Am. BrakeSh.
&Fdy. (newstocks)
Burroughs Add. Mach. Stock
Jones & Laughlin 5s, 1939
Hydraulic Steel, Com. & Pfd.
"
"
Lincoln ""
Motors
National Bank of Cuba Stock
Packard Common & Preferred
Bucyrus Co., Com. & Preferred
Kentucky Utilities 6s, 1924
Detroit Edison Co. Stock
Laclede Gas Light 7s, 1929
Nevada Cal. Elec. 6s, 1946
Goodyear T. &
N. Y.
R. Com. & Pfd.
Templar Motors
Merrill, Lynch & Co.
Shipbuilding Co. 5s, 1946
Pacific Light & Power 7s, 1925
120
Broadway, New York
Telephone 6070 Rector
Rio de Janeiro,
City of, 6s, 1927
Staley, A. E., Mfg. Co. 7s, 1923
Private wires to Chicago,
Traders Telephone 7683 Rector
Detroit, Cleveland,
Youngstown, Grand Rapids and Lansing.
Waterloo Ced. Falls & N. 5s, 1940
Woodward Iron 5s, 1952
Instantaneous
Tex. Pac. Coal & Oil Stk. & Rts.
New Jersey Zinc Stock &
communication
between
our
offices is made
possible through their intercon¬
nection
by
private
wires.
Morton. laclieribraclL & Ca
42 Broad Street,
CHICAGO
DETROIT
PHILADELPHIA
Stern Bros. Pfd.
Rights
Niagara Fire Insurance Rights
Arkansas Natural Gas Rights
PITTSBURGH
Imperial Tobacco
Babcock & Wilcox
American Tobacco Scrip
American Woolen Rights
General Motors Rights
Amer. Brake Shoe &
JFdry.
Central Aguirre Sugar
W. I.
Guantanamo Sugar
Fajardo Sugar
R. J.
Bristol £ Bauer
C. G. Kerr & Co.
STANDARD
Viikly
Summery
0
to
Oil
illUM
CARL H.
1
Investors
L
Mark A. Noble
on
request
PFORZHEIMER & CO.
Dealers In Standard OH Securities
*Hems 4860-1-3-3-4 Broad.
36 Bread St.. N. T.
V
PAU L L F- BAUER,
NY Phone-. Eecior 4594
Armour & Co. 6s, 1920-24
Theodore C. Cor win
Chicago Rwys. 1st 5s, 1927
Peoples Gas 5s, 1947v
NOBLE&CORWIN
SI Broad St.
Bankers
New
York
BABCOCK, RUSHTON & CO.
Members
Trust
Chase National Bank
Citizen
Air Reduction
American Chicle
New
York.
Chicago
Stock Exchangee
HOME INS.
DUNHAM & CO.
BLDG.,
CHICAGO
National
We
Kodak
to
Baking
buy
Common
Park & Tilford 6s, 1936
Common
TOBEY a KIRK
Curtiss Aero Com. & Pref.
Members New Yerk Sleek Exchange
Telephone 1111 Broad
Railroad
Bond
Securities
II Bread Street
Public
Dept.
NEW TOBK
Utility Dept.
Atlantic & Yadkin 4s
'Phone 8308 Hanover
General Gas & Elec. 5s,
West Virginia &
4S Exchange Place
Boston
Thermos Bottle
Ward
Otis Elevator Pref.
Eastman
wish
Amer.
Surety
and
7 WALL ST RUBY
NEW YORK
National Bank
Equitable Trust
Atlantic Lobos Petroleum
Carbon Steel
Central Aguirre Sugar
Guantanamo Sugar
Gulf Oil Corporation
Lone Star Gas
Penna. Coal & Coke
Savannah Sugar
Stern Bros. Preferred
Texas Pacific Coal & Oil
Investment
RALPH BRISTOL
120
Phone 1780 Rector
Will bo mailed
on
Standard
2 Rector St., N. Y.
Reynolds (all issues)
Amer. Tob. "B" (when
issued)
Weyman-Bruton Com. & Pfd.
Virginia Power 5s, 1942
Pitts. 4s
1925-32
Nashville Terminal 1st 5s, 1932
Yadkin River Power 5s, 1941
Cinn. Wabash &
Southwest. Pow. & Lt. 5s, 1943
Michigan 4s
C. & O. Coal River 4s
Canadian,
Fort Dodge Des Moines & So. 5s
Pittsburgh & Shawmut 1st 5s
East. Tenn. Va. & Ga. 5s, 1930-56
Texas Power &
Pacific
Cuban,
of
Missouri
1st
Des Moines & Fort
So.
Mexican
4s,
and other
1938
United
Ry., St. Louis div. 4s
w
Securities
N. Y. Penna. & Ohio 43^8, 1935
Chicago & N. W. Ext. 4s, 1926
Industrial Bond Dept.
Lackawanna Iron & Steel 5s, '26
Deb. 5s, 1928
American Can
Hudson Navigation 6s,
Kuczynski & Co.
120 Broadway
New York
Telephone Rector 6834
Bank
Stock
1938
Fdy. 5s, 1952
Consolidation Coal 4
\
& Elec.
Southern Calif. Edison 5s, 6s, 7a
Northern States Power 5s, 6s, 7a
3^8,[5s &[6s
Standard
Dept.
Stock
CORRESPONDENTS
Oil
Dept.
Corn Exchange Bank "Rights"
S. O. of New York
S. O. of California
Home
Insurance
Chemical National Bank
National City
Torento
Bonds,
Bank
✓
Prairie Oil & Gas
Atlantic
Refining, Common
Bank
CARRUTHERS, PELL &
PRIVATE WIRES
Montreal
Dept.
Splitdorf Electric, Com. & Pfd.
Steel & Tube of America, Pfd.
E. T. Burrows, Com. & Pfd.
National Leather, Common
Columbia Motors, Common
Ingersoll Rand, Preferred
Lehigh Valley Coal Sales
Irving National Bank "Rights"
Niagara Insurance "Rights"
All Important Foreign Capitala
7s, 1925
Empire Dist. Elec. 5s, 1949
Industrial
Int. Tel. Sale & Eng. 6s, 1921-26
Dominion Glass 6s, 1933
Amer. Brake Shoe &
Light & Rys. 5s, 6s, 7s
Pacific Gas
s
Lake Erie & Western 1st 5s
International
Standard Gas & Elec. 6s, 1935
Dodge 4s
Atlantic & Danville 1st 4s
Light 5a
Great Western Power 5s, 6s
Stocks,
15 Broad Street, New
Miscellaneous
York
Securities,
CO.
Standard
Oil
Stocks
Phones 5161 to 5169 Hanover
Philadelphia Plume, Locust 572, Bait. Phone, St. Paul 9389
[VOL. 110.
THE CHRONICLE
XIV
Current $ontt inquiries
WANTED
F.
J. LISMAN & CO.
Graniteville Mfg.* Com.
Bijou Irrigation Districtr6s
Ft. Wayne & Wabash Valley 5s
Members New York Stock Exchange
61
BROADWAY, NEW YORK
Clinton Water-Works Co. 5s
Atchison-Rocky Mountain Div. 4s, 1965 Falls Co. Stock
j
Emmett Irrigation District 5s
Central New England Ry. 1st 4s, 1961
Denver
&
Salt
1st 5s,
Lake RR.
Shetucket Mills Stock
1943
Joplin Water Works 5s, 1940
Duluth South Shore & Atlantic 1st 5s
WE DEAL IN
Galveston Houston & Henderson 1st
Lewiston Brunswick & Bath6s
5s
Racine Water Co. 5s
Great Falls
gtd. 4s, 1950
Grand Trunk Western Ry.
Kansas
Missouri
City & Pacific Railroad 1st 4s
Railroad—Southern
H. C. SPILLER & CO.
4s
Lines
INCORPORATED
Kansas & Oklahoma 5s
IT Water St., corner
Ry. 3^s and all 4s
"Opportunities in
Philippine Railway Co. 1st 4s
AND ALL
Deveashlre St., BOSTON
68 Wall Street, NEW YORK
,
Panhandle
RAILROAD AND STEAMSHIP
Liberty Bonds"
SECURITIES
Circular
Investment
v
City Water Co., Chattanooga, 6s
International & Great Northern Issues
Manila
Mfg. Stock
Wichita Water Co. 5s
Railway of Canada 4s
Great Northern
WOOD, STRUTHERS & CO.
120 BROADWAY. NEW
Interboro Rapid Transit 7s
Kennecott Copper 7s
1930
Belgian 7M%
1925
Delaware & Hudson 7s 1930
Cons. Textile 7s
1923
1921
and all other Bonds and Notes traded
New
York Curb.
Underlying
Railroad
Members N. Y. Stock Exchano•
YORK
Telephone: Rector 7360
of New York Stock Exchange
Members
NEW YORK
Davies, Thomas & Co.
request.
SUTRO BROS. & CO
9 Nassau Street
Securities
on
CONNELL
A
NICHOLS
New York
111 Broadway
I
Nassau
New York
St.,
Telephone: Rector 6467 and 622
Bonds
Telephone Rector 162f
American Gas & Elec. 6s, 1920
Ashland Lt., Pr. & St. Ry. 5s, '39
Bronx Gas & Electric 5s, 1960
VILAS &. HICKEY
Canadian Pacific 6s, 1924
Argentine Govt. 5s, 1945
I# (Listed & Unlisted)
Empire Gas & Fuel 6s, 1926
Braden Copper 6s, 1931
International Paper 5s, 1947
Chicago & Alton Deb. 5s, 1922
Pocahontas Cons. Coll. 5s, 1957
Internat. Ry. of
49 Wall Stre.
Combustion Eng. 6s, 1934
SPECIALISTS IN RAILROAD AND
BONDS.
CORPORATION
LIST
OTIY1
OF
OUR
BENT MARKET OFFERLNGB ON RBQUBST.
tsisphoiw Hansvsr 8317
Maurlon
Co. 5s, 1932
Light 8c Htg.
Taylor & White
43
Tel. Hanover 427-8*9
Exchange PL, N. Y.
Atlanta & Charlotte
Consumers Power 5s, 1936
V
4^8 & 5s
Pfd.
Amer. Pneumatic Service 1st
B. & O. Toledo-Cinn. 4s,
Duquesne Light 6s, 1949
1959
Southern California Edison 6s, 1944
Utah Securities 6s,
!
Cincinn. Wabash & Mich. 4s, 1991
Chicago & L. Superior 5s, 1921
Central Vermont 4s, 1920
Gr. Trunk Western 4s, 1950
Gilbert J.
WEST SHORE
T Wall Street
Reg. 4s, 1961
5
_
1922
Postley
NEW YORK
„
Duquesne Ltg. 6s, 1949
Empire Gas & Fuel 6s, 1924-1926
Lehigh Power Sec. 6s, 1927
Shaffer Oil & Ref. 6s, 1927
J. S. FARLEE & CO.
M BROADWAY
Tol. St. Lo. & West. 4s Reg.
PHILADELPHIA
McKinley & Morris
Wanted
Penna. Utilities 5s, 1946
Paducah Water Supply 6s, 1925
Terre Haute & Peoria 5s, 1942
Mary Coal Co. 1st 5s, 1939 United Publishers Pref. A
Empire Gas 8c Fuel Co. 8s, 1926
Cincinnati" Gaa Transport. 5s, 1933
80T Chestnut St.
T.I. John *71
Del. Lack. & Western Coal
Penn
Buffalo 5s, 1962
Transport'n 5s, 1933
Central I Pacific 3V2S, 1929
SAMUEL K.PHILLIPS & CO.
Cine. Gas
B M.WALL ST., N. Y.
in on
'
Members American Boaters' Association.
Members Now Tort Stats Banters'Association.
BAUER, STARR & CO.
US BROADWAY
N. Y. CITY.
K.
T.
ABRAHAM & CO.
27
William St.
N. Y.
Tel. Rector 1 & 2
Private wire eeaaectteas
brother#
WANTED
Cleveland Electric
Ref. 4s, 2004
Oregon-Wash. RR. & Nav. 4s, 1961
Philadelphia Co. Conv. 5s, 1922
Toledo Terminal 4H»» 1957
Under. El. Sys. of London 4
s & 6s
United Rys. Invest. (Pitts.) 5s, '26
LAND TITLE BLDG.,
PHILADELPHIA
Rector 7416
M.
Ilium. 5s, 1939
Island Oil & Transportation 7s, 1920
PubKclltOMeau-itutf
111
saroactWo Mil/
Tennessee Power Co. 1st 5s, 1962
Wisconsin
Gaa
& Electric 5s,
1952
WE WILL SELL
Bell
Telephone Co. (Canada) 5s, 1925
Detroit Edison Co. 1st 5s, 1933-1940
Empire District Electric 5s, 1949
Wisconsin River Power 5s, 1941
'
EARLE A.
MILLER & CO
SPECIALISTS IN PUBLIC UTILITY SECURITIES
DIRECT PRIVATE WIRE CONNECTION
•tLEPHONE RECTOR 8060-1-2-3
WE SPECIALIZE
IN
Northern Texas Elect.
WITH CHICAGO
111 BROADWAY, NEW YORK
Co.
8% Common Stock
Yielding at Market 13%
Republic Rwy. & Light Co.
6% Cumulative Pfd. Stock
Yielding at Market 13 K%
Private Ffcoeee to P&ikdepftia
it Boetoe
June 5
1920.]
THE CHRONICLE
xv
Current Stout* inquiries
Empire Lumber 6s
Guanajuato Power & Electric 6s
"Big Four" St. Louis Div. 4s, 1990
Guanajuato Pow. & El. Com. & Pref.
Michoacan
Power
6s
Atl. Ave.
"Big Four" Spring. & Col. 4s, 1940
Bklyn B. & W. End RR. Gen. 5s, '33
Cleve. Akron & Col. Consol. 4s, 1940
Bklyn. City Railroad Co. 5s, 1941
RR.
Co.
Bklyn. 5s, '31-'34
Cleveland Short Line RR. 1st
Guanajuato Reduction & Mines 6s
4^8,'61
Bklyn. R. T. Co. 7% Notes, 1921
Gila Val. Globe & Northern
Central Mexico Light & Power 6s
5s, 1924
Bklyn. Un. Elev. RR.
Harlem River & Portchester 4s, 1954
Columbus Ry., Power & Light 6s
1st 5s,
1950
Kings Co. Elev. RR. 1st 4s, 1949
Indianapolis Water Co. 4J^s & 5s
Lexington & Eastern Ry. 1st 5s, 1965
Lexington Ave. & Pav. Ferry 5s, 1993
Canadian Connecticut Cot. Co. Com
Long I si
City & Flushing 1st 5s, '37
Nassau Elec. RR. Co. Consol. 4s, 1951
Jersey & N. Y. 1st Ext. 5s, 1950
N. Y. G. & El. Lt. Ht. & Pow. 5s, 1948
Atares Wharf &
Warehouse
Com.
New
Savannah Riv. Lum. Co. Pref. &Com.
•
South & North Ala. RR. Gen. 5s, '63
Standard Woven Fabric Co. Com.
Georgia Light, Power & Rys. Pref.
Wm.
Dayton Covington & Piqua Trac. 5s
Cumberland Co. Pow. & Light Pref.
53 State
Main
460
El. Lt. & Pr. 5s, 1930
Carnegie Ewen
Tel. Rector 3273-4 and 3294
2
HOTCHKIN & CO.
Telephone
N. Y. & Queens
Wall Street, New York
Clinchfield Coal
St.,
Boston, Mass.
Anglo-American Oil T^s, 1925
Davis Coal & Coke
B. F. Goodrich & Co. 7s,
Del., Lackawanna & West. Coal
1925
The Texas Co. 7s, 1923
Indiana & Illinois Coal Corp.
Western Electric 7s, 1925
Amer. Lt. & Trac.
Kana. & Hock. Coal & Coke Co.
Central Petroleum
Lehigh Valley Coal Sales
Pacific Gas & Electric
Pennsylvania Coal & Coke
BULL & ELDREDGE
Western Power
Members of the New York Stock
20
BROAD ST.. N. Y.
Tel. Rector 8460
Specialists in Foreign Government Securities
MacQuold
&
St., N. Y.
Virginia Coal & Coke Co.
Wm. C. ORTON & CO.
8peeUM$i Reorganization Securities
25
Coady
Broad St., New
Tel. Reetor 9970.
St. P. & K. C. Sht. Line
4^8, '41
Terminal
Co.
Motor
Bong* and Sold
Members
N.
& Davenport
Y.
Stock
Exchange
Tel. Rector 5109
Telephone Rector 2687-8-9
CONSTABLE & FLEMING
.Al/M.
CONSTABLE
_
Broaduray NY
71
OFFERINGS
5s
Debenture 4s,
Haven
1922
Mil. Sparta. & No. West 1st 4s, 1947
Atl. Coast Line (L.&N. Coll. 4s), '52
Canada
and
IC. L. FLEMING v'u
Bowling Green 6460 ~
Wabash, Tol. & Chic. 1st 4s, 1941
Telephone Co.
of
'
WANTED
New
Bell
7s, 1925
TaL Breed Tin
J. S. Bache & Co\
New York ^ Tel., 6400 Broad
NEWBORG & CO.
BRANCHES and CORRESPONDENTS
Members New York Stock Rwhsif
Cincinnati
Albany
Cleveland
Baltimore
BROADWAY, N. Y.
Boston
St. Louis
Syracuse
Philadelphia
Troy
•
■
Utility Bonds
Phone Broad 7118-t
Illinois Central Traction 5s, 1933
Topeka Railway & Light 5s, 1933
Norfolk & Southern 5s, 1954
E. D.
MURPHY
51
Milw. Elec. Ry.
Current River 5s
WALL ST.
Atlantic Ave. RR. 1st 5s
Grand Trunk Western 4s, 1950
Erie-Penna.
Minn. & St. Louis Ref. 5s
Chic.
Missouri, Kan. & Texas Notes
New Haven 3^s & 4s
M. & O. Gen. 4s, St. L. 5s & Mont. 5s
Chic.
Coll.
4s
& Northwest 5s,
Seaboard
Air
111.
Line
6s
Marq.-Lake Erie & Det. Riv.^4^s
Wabash-Omaha 3^s
Lt. & Pr. 5s, 1942
Chicago Railway 1st 5s
Twin City 5s, 1928
American Cities Preferred
Valvoline Oil Preferred
Galv., Houst. & Henderson 5s
Pere
Portland Ry.
Packard Preferred
RR. Securities 4s
Cent.
Milling 6s
Detroit Edison 7s, 1930
Long Island City & Flushing 5s ~
Chateaugay Iron & Ore 4s, 1942
& Light 5s, 1926
Granby 8s
Hecker-Jones-Jewell
1933
Meridian Terminal 4s, 1955
Chic. T. H. & South. Inc. 5s, 1960
WOLFF & STANLEY
Public
Telephone 7852 Hanover
Suffolk & Caro. 1st Cons. 5s, 1952
Tol. & Ohio Cent. Gen. 5s, 1935
Atlanta Birm. & Atl. Inc. 5s, 1930
P. Marq. L. E.&Det. Riv. 4^8, '32
and
Ches. & Ohio Cons. 5s
Equip 6s, '20
Memphis & Gulf 5s, 1940
Birmingham 1st 5s, 1934
Railroad
Rochester
New Orleans
Chicago
LOUIS
Atl. &
Canadian and Foreign Government
Investments
Pittsburgh
KansasCity
Buffalo
Telephone 4390 Bowling Green
Det Gr. Hav. & Milw.
(Established 1874.)
ST.
BALTIMORE. MO.
Members Baltimore Stock Exchange.
Equitable Gasl't (Memphis) 5s, 1929
Members New York Stock Exchange
Det. Gr. Hav. & Milw. Cons. 6s, '20
J. BARMAN OS FISHER ft SSNS
SOUTH
Nashville Ry. & Light 5s, 1958
BONDS
ST.
Elk Horn Coal Corp. Securities
Wash. Bait. & Annapolis Securities
PROCTER & GAMBLE
Stock & Scrip
TO
Consolidation Coal Co. Securities
42 Broadway
LIBERTY REGISTERED
WIRE
90 Bread St. N.. Y.
Henry Nightingale
Com. & Pfd.
i
INVESTMENT SECURITIES
84 Pine Street
New York City
5891*6 John
PBIVATE
Seligmann
Members Nets York StoekEuka* go
We buy and sell for our own account.
INDIAN REFINING
Joseph Gilman
60
&
Beads
Consolidated Gas, Electric Light A
Power of Baltimore Securities
BROADWAY
66
Trinity PI.
Checks
Shuman
Rollins, Kalbfleisch & Go.
Specialists in Railroad Terminal Bonds
72
on Order
Currency
St. Paul Deb. 4s, 1934
Stock
Fin lay
Brood
Preferred
Cole Motors Stock
Nash
Tol. T1M*14I
FOREIGN EXCHANGE
R. I. Arkansas & La.
Wheeling Terminal 1st 5s, 1927
Chic. Union Station 43^8 & 6s
N. Y. Bklyn. & Manh. Beach 1st 5s
Charleston Union Station 1st 4s, '37
General Elect. Deb. 3^8 & 5s
Bush
York
Standard Tank Car Preferred
Members New York Stock Exchange
14 WftU
West
Exchange
LM
Panhandle
Pet.
& Ref.
Preferred
Cuban International 5s
Dominican
Republic 5s
Tetopono Rector 2939
72
Trinity Placo, N. Y.
SAM'L
Phono 5380-1-2-3 Brood
GOLDSGHMIDT
25 Broad Street
(VOL. 110.
THE CHRONICLE
IVI
^financial
jfimncial
Jtnawrial
Norfolk & Western Cons. 4s
Cities Service,
Com.
Cities Service, Pfd.
Grand Trunk Pacific 3s & 4s
Columbia 5s, 1928
British
Havana Elect. 5s,
Cities Service,
1922-'24
Winrn Wtr. Dist. 5s & 6s,
Govt. Bonds
Amer. Cities Co. & Underly. Sec.
& company
miller
Cities
1952
Cuban & Canadian
Members N. Y. and Phlla.
Stock Exchangee.
A
High Grade Short Time
Bankers.
Investmen
Service, Bs.
Cities Service, Cs.
Cuyamel Fruit Company
Empire Gas & Fuel 6s, 1924
Marine Equipment Serial
Gold
R.A.SOICH&CO.
10 Wall Street,
Tel. Rector 5280-92
N. Y.
Notes
Maturing Monthly
'Phone 7500 Rector, N. Y.
120 Broadway.
Recommend As
We
Union Pacific Ref. 4s
March 1921 to July 1922
Price to
Net
7%
Circular with Full Details
Safety Car
upon
Request
Heating & Lighting
POUNDED
Company
1852
Hibernia
Investment Securities
Bought
Sold
-
-
Quoted
Letters of
Securities
Foreign
Exchange
Credit
Company
Incorporated
Travelers' Cheoks
THEODORE L. BRONSON & CO.
-
e
V ;
:• '
..
I-
;..v.
Uembers Nst# York Stock Exchange
10 Wail St.
Tal. Rector 7500
N. Y.
World.
Correspondent* Throughout the
Hibernia Bank
♦Kmutft tNadioB fcKuljnt
Members New
*
York Stock Exchange
New York
■aultable Building
"61
YEARS
OF
FARM
MACHINERY
MAKING"
THAYER, DREW & CO.
Moore,
McSHERRY MANUFACTURING COMPANY
Preferred & Common Stocks
MUNICIPAL BONDS
Leonard &
Lynch
111
IWOpAOfM
Stock Exchanges
Frlck Bids.
111 B'way
New York
<
L.N. Rosenbaum & Co.
York
KMT 8419
135
Philadelphia
Broadway, New York.
Ritz-Carlton
Pittsburgh
Sale* Representatives Wanted
Broadway
New
Members New York, & Pittsburgh
Building
New Orleans
Chi. Pac. Western 5s,
1921
Chi. North West 5s, 1921
W. C. Langley & Co.
EASTERN
SILVER
EXCHANGES
BULLION
Montgomery Bros.
Inv*8tment9
Weektt "Bullion Letter'
Sent on Uetuest.
SRINIVAS
Broadway, Naw
WAGEL
R.
PINE ST.
NEW YORK
Telephone
115
York
City
Broad
15
3063
William St.,
New
York
Membere New York Stock Exchange
53
St.
Phone JOHN 2020
Maurice
Paper
Ltd.
Co.,
Bonds and Stock
H. D. Walbridge
& Co.
Specializing in
PAUL & CO.
Russian Govt. Bonds
Mem lersPhiladelphia Stock Exchange
14 Wall
and
Street, New York
Currency
1421 Chestnut Street
PHILADELPHIA
Foreign Govt. Securities
CHAS.
Public Utility Securities
BOUGHT AND
F.
HALL
A
CO.
Tel. 6816 Rector. 20 Breed St.. N
Y.
Over
Of
0
80%
RATIONAL
SOLD
FOR
Bay State Film
El
Favor
Mines
Unlisted Oil, Mining, &
Industrial Securities
G. F. Redmond &.Co., Inc.
10 STATE ST.,
Direct Private
BOSTON, MASS.
Wire to New York.
Tel. Main 3138—Port Hill 920
BERTRON, GRISCOM & CO., INC.
INVESTMENT
46 WaU Straat
Land Tltla
NEW YORK
Building
PHILADELPHIA
Banks in
City
SAFETY
use
PAPER
THEIR CHECKS
George La Monte & Son
€1
SECURITIES
the
New York
Broadway
New York
STOCKS AND BONDS
bought and sold for cash,
conservative
Inactive
and
or carried
terms.
as
unlisted securities.
Inquiries invited.
Scott & Stump
INVESTMENT
Stock
We
Buy and Sell
NEW ENGLAND MILL
SECURITIES
.
PHILADELPHIA
pond
Pbenee: Locust 6480. 6481. 6482. 6481
company
Successors
& TARBELL
Members New York Stock Exchange
26 BROADWAY.
Stocks
Exchange Building,
Keystone:
FINCH
to
NEW
CONRAD B. 8HEVLIN CO.
Leonard F.
34 Pine
Atlantic
Hepburn
St., N. Y.
Great
Race 2797
YORK
Tel. 757 John
Ill Devonshire Street
BOSTON, MASS
Telephone Ft. Hill 846-647
Italian Govt.
5% Int.Loan of '18
Yadkin River Power 5s, 1941
Russ.Govt.51/£% Int.Loan,due'26
American Power &
Russ.Govt.6^% ext.Loan,dueT9
French
Govt.5% Int.Loan ofl916
Carolina Power &
Bought—Sold—Quoted
ALFRED
R
Telephone 5204 Broad
Pacific Power &
h.
RISSE
BROADWAY
Light 6s, 2016
Utah Securities Corp. 6s, 1922
85
&
Pacific
Tea
Notes
Canadian Securities
Light 5s, 1938
Light 5s, 1930
l. nason
Devonshire
WANTED
a co..
BOSTON, 9
Inquiries Invited
Lynch & m?dermott
—10 WALL ST NY—Tel RECTOR 2515
—
JUNE 5 1920.]
THE CHRONICLE
XTIl
/fttamUI
ifitumtfal
mw a
VevefffB
^w"^u5ia\
|
\
For
A Perennial Vacation in France
A-
Income
s
You
and Profit
possible?
We advise the pur¬
chase now of cer¬
have
can
every year
for life
About
day still
dollars
seventy
pays
Your
Corpora¬
of
tion Bonds.
for
a
in
France
Im¬
buys
1,000-franc
a'
bond,
And 50 francs
per annum.
a
good vacation in France.
principal will remain intact, offering the chance
almost 300%
French
The current edition
vacation
present outlay of $7,000.
It isn't.
Munici¬
pal, and
three-month
a
yielding 50 francs interest
tain Canadian Gov¬
ernment,
a
on
realization
exchange return to
on
par,
investment should
your
as
1,000 francs
gold is
equal to $193.
of Investment Re-
S
commendat ions
Ask
for
our
Foreign Securities Circular for June.
gives
you a list of
them and tells you
why they are good
purchases.
n
Write for
a
American express Company
copy.
telephone'
securities
t
Bowling green iqooo
Department
Address:
K
acency or
Royal Securities
v
CORPORATION
y\
CINCINNATI GAS
(CANADA)
Si
LIMITED
1
& ELECTRIC
New York
165 Broadway
Te!. Cortlandt 3234
-
5 -6
CO.
6%
Secured Gold Notes
Capital and Surplus $3,600,000
Due Dec. 1, 1922
PROMPT PERSONAL SERVICE TO
FOREIGN BUSINESS
Principal and semi-annual interest pay¬
able in New York.
Complete description on request.
30 Years
Price to
A general
banking business conducted.
Accounts of firms, individuals and banks
solicited on most liberal terms.
Collections
of all kinds made.
MaU and telegraphic pay¬
ments effected.
Especial attention paid to foreign trade,
foreign exchange, commercial credits, etc.
Yield TH%
Write
in
BOND
or
great
DEPARTMENT
Member
Export Banking
110 So.
telegraph
for terms.
lakes trust
Federal
Dearborn
Reserve
St.
co.
System
Chicago
Fifth-Third
National Bank
Investment Securities
CINCINNATI, O.
INTIMATE
KNOWLEDGE
the needs and habits of the
.acquired
by
of
years
and actual residence
experience
coun¬
tries themselves, is essential when
transacting business abroad.
23
Branches
8
in
Offices
South America
in Europe
Direct Connections with India
LIMITED
Mew
Ttrik
Agency,
49
Broadway
&
Distributed
Federal Securities
of
AMERICAN
people,
in the
Underwritten
Corporation
FOREIGN BANKING
CORPORATION
53
38 South Dearborn Street
CHICAGO
Broadway, New York
Capital, Surplus and Undivided
over-$5,000,000
Profits
Principal Branches
Brussels, Belgium
Aires, Argentina
Harbin, Manchuria
Havana. Cuba
Manila, Philippine Islands
Panama City, Panama
Port au Prince, Haiti
Rio de Janeiro, Brazil
Santo Domingo, Dominican Republic
SIMON
Buenos
BORG & CO.
Members of New
York Stock Exchange
No. 46 Cedar Street
•
-
New Yorh
Correspondents throughout the world.
HIGH-GRADE
INVESTMENT SECURITIES
ALDRED & CO., LTD.
40 WALL
Hollister,White# Go,
Investment Securities
n
STREET
Parts
London
Montreal
CEDAR STREET, NEW YORK
60 Oongron St.
Boston. 9. Man.
North American Bldg.
WILK & COMPANY
NEW YORK
investment
securities
i
The services
Philadelphia, Pa.
are
at
of
our
foreign offices
your'disposal.
140
S.
DEARBORN
ST.
CHICAGO
[VOL. 110.
THE CHRONICLE
XTIII
Jffnaiulal
ftmmtal
James Talcott, Inc.
METROPOLITAN
COMPANY
Gintril Offlac»
TRUST
225 fourth avenue
new york
THE CITY
OF
city
OF
pQ WALL STREET
NEW YORK.
7i6 FIFTH AVENUE
POUKDKD ISM
Agents,
"Experience is by industry
achieved, and perfected by
Factors and Correspondents for
the United States and
course
™* "
—SHAKESPEARE
swift
the
Manufacturers and Merchants in
Abroad.
EXPERIENCE
Entire Production of Textile
Mills Sold and Financed*
Discounted.
Accounts Guaranteed and
CABLE ADDRESS
QUOMAKJEL
OUR handling many and
by experience, achieved
varied
a
matters
period of 39
of
trust over
years,
works
continually for the advant¬
age
our customers. It is
of the strong factors
of
one
SHORT TERM MATURITIES FOR BANKS
excellence of Metro¬
in the
politan service.
Collateral Gold Notes
YOU areof our experience
yourself invited to avail
of the
:x;v
General Motors Acceptance Corporation
$500
with
$2,500
$1,000
Secured by deposit
$5,000
$10,000
benefit and
for your own
that
Denominations
of others
welfare
whose
in
you are
interested.
with Trustees of buyers' obligations,
yru
ample equities, arising from the sale of
Products of
General Motors Corporation
Corporation
57th Street, New York City
Established
General Motors Acceptance
226 West
Bank
Corporation
Financial Sales Division
Address:
Swiss
1872.
Zurich,
Basle,
St.
Geneva,
Gall, Lausanne
La Chaux-De-Fonds
Neuchatel
'National Bank' of Commerce
OFFICE
LONDON
43, Lothbury, E. C. 2.
in
New York
WEST
The Corporation
Office, and
with its London
extensive American and
Continental
connections
dertake every
Capital, Surplus And Undivided Profits
Over Fifty-five Million Dollars
BRANCH
END
St., Waterloo PI., S. W. 1
11*. Ref.nt
can
un¬
description of bank¬
ing business between America and
Switaerland as well as the whole
Continent of Europe on the most
favourable terms.
American Banks
invited to
and Bankers are cordially
make
use
of the facilities the Cor¬
poration can place at their disposal.
Government,
Railroad
Municipal,
Industrial
Public Utility
Investment Bonds
A. B. Leach & Co.,
New York
Municipals
Yielding 5.00% to 5.50%
B. J. Van
Ingen & Co.
46 Cedar St
Inc.
New York
TEL. 6364 JOHN
Investment Securities
62 Cedar St.. New York
Philadelphia
Bostoil
BasClxneve
florantea
105 So. La Salle St., Chicago
Buflhlc]
Cleveland
Minneapolis
Detroit]
MKwaokee
W. H.
Goadby & Co.
Members New York Stock Exchange
NO. 74
BROADWAY
NEW YORK
June 5 1920.]
THE CHRONICLE
j&eettaf*
HOCKING
Jftnaitcial
VALLEY
PRODUCTS
COMPANY
Notice of Special Meeting of Stockholders to
be held June 17th, 1920.
PLEASE
TAKE
NOTICE
Hollandsche Bank Voor Zuid-Amerika
(Banco Holandea da la America dal Sud
that, pursuant to
meeting
of
the
stockholders
Valley Products Company
of
the
High Street, Columbus, Ohio,
June, 1920, at 12 o'clock
of considering
pose
tion
of the
the
on
17th day
with
recommendations
the
of
Board of Directors:
1.
To
and
the
properties
of
the
inventory
and
Company
and
to
the
and
the
Company
appraisal
be
in
for
this
the
of
forth
set
at
direct
and
corrections
values
prepared
presented
authorize
to
justments
adopt
the
meeting,
changes,
that
ad¬
become
may
necessary.
2.
In
Company
authorized
the
at
Bankers
fl_
with
from
$920,000,
its
issue
3.
stock
such
To
shall
the
represent
additional
stock
to
and
of
the
shares
of
...
Pension Fund
1,895,000 00
92,656 26
fl.185,676,888 91
PROFIT
authorized)
amount
shares
Company,
as
stock
that
$20
the
of
the
capital
share
per
the
AND
LOSS
capital
fl.1,121,749 58
the
said
event
additional
$10
shall
increase
for
capital stock
each
share
one
of
of
by
stockholders
business
orize
and
to
pany
follows:
Less addition
Special reserve
170,000 00
Writing off premises
100,000 00
Shareholders 9%
..1,895,000 00
Holders of Founders'
5.
con¬
Taxes
Balance
1919
to
forward
from
fl.
Pension Fund...
119,568 68
to
.
Ac-
new
GENERAL
direct
30,
1920,
the
such
at
the
of
amend
corporation
and
the
$10)
auth¬
Com¬
issue
COMMERCIAL BANK OF LONDON
the
charter
amendment
as
foregoing
visions,
effect,
and
and
officers
to
the
or
Company,
such
as
said
and
Company to make,
certificates
other
or
pro¬
the
To
transact
as
such
execute
and
Capital
and
as
said
meeting.
S.
L.
-
-
The Right Hon. The Earl of March, D.S.O.
Stanley J. Passmore
Sir Francis William Towle, O.B.E.
Henry William Pelham-CUnton
CURRENT ACCOUNTS opened and every
description of Banking Business
BILLS discounted and advances made to customers on
CHAMBERLAINE,
transacted.
approved
security.
1
SPECIAL FACILITIES
GRANTED
INDUSTRIAL
THE
PURCHASE
GREENE CANANEA COPPER CO.
is
the
given
that
Stockholders
Cananea Copper
Company
office of the Company, 42
will
of
the
be held
SALE OF SECURITIES undertaken! safe
custody
securities; also the receipt of dividends.
COUPONS AND
Annual
the
DEPOSITS received
at
call,
DRAWN
BONDS negotiated
for fixed periods, at rates which
tained on application.
Greene
at
TO COMMERCIAL AND
UNDERTAKINGS
AND
of
OP ANNUAL MEETING.
hereby
of
£2,250,000
Assistant Secretary.
May 29, 1920.
Notice
-
Hob House, Bart., P.O. (Chairman)
NORBERT. HEINSHEIMER.
Meeting
-
The Right Hon. Sir Charles Edward
President.
NOTICE
£5,000,000
DIRECTORS:
By Order of the Board of Directors,
/
-
Clarence Charles Hatry, Managing Director
Peter Halg-Thomas
further
before
come
Issued
proper
instruments
other
lawfully
may
-
into
may be necessary and proper.
business
Authorised Capital
be
may
meeting
direct
LIMITED
so
carry
other
changes
at
authorize
to
necessary
or
approved
of the
such
of
be
may
provisions
amendments
adopted
Certificate of In¬
present
BUSINESS
close
to
the
and
BANKING
CORRESPONDENTS ALL OVER THE WORLD
value of
and
officers
distribution
71.8,876,611 82
value
par
par
record
38,175 51
25,000 00
187,600 00
capital
par value, of
of
June
on
make
To
Y.,
JUNE
fl18,176 51
Interest....—...—..............1,581,886 95
Bills and Commission...........2,281,049 17
....
stock therefor.
6.
30TH
of $10
of
the
the
$20 each (or two shares of the
held
PER
Balance brought
1917-1918
2.753,862 80
as
and
6tock
150,000 shares of the par value
In
6uch
ACCOUNT
CREDIT.
Expenditure
Shares
number
increased,
so
of
additional
from
so
the
of
fl.185,676,888 91
DEBIT.
stock shall be authorized, to distribute
$460,000
of such
additional
capital stock pro rata to
stockholders in the ratio of one share of
N
100,165 67
Dividend 1918-1919
Undivided Profit
1 00
the
file
8,600,000 00
...
fl-3,875,611 88
4.
the
20,000,000 00
8,289,689 80
88,761,406 86
Creditors in Current Account..
87,896,665 00
Balances of Home and Foreign
Bankers
88,208,406 TO
Securities Deposited
42,875,095 50
51
99
15
21
56
500,000 00
each.
far
fl.
.....
Payable
Deposits
value of
par
capital
such
share,
per
of
the
(including
value
the
of
1919
Bills
Premises
Furniture
Net Profit
to be divided
when
$10
par
of
Share Capital
Reserve Fund...
For-
eign Bankers................ 20,579,789
Bills Receivable
41,285,078
Debtors in Current Account...
61,841,028
Investments in Securities
8,748,084
Securities Deposited
42,875,095
Securities Bought not yet re-
increase
the
change and reduce the
Company
stock
sist
15,695,469 76
that
so
of $580,000.
of
29,500,000
present
capital stock, to $1,500,000,
capital
to
fl.
7,945,456 65
Home
in property accounts and to authorize
the officers
all
SANTOS
LIABILITIES.
Hand
appraisal
adopted, to increase the capital stock
be
th8
to
PAULO
In the event said inventory and
shall
of
SAO
ASSETS
Cash
Balances
approve
JANEIRO
BALANCE SHEET PER THE 1ST JULY,
in
Cash
the
DE
Capital and Reserve Fund
the adop¬
upon
following propositions submitted
accordance
RIO
for the pur¬
noon,
and voting
Banoo Hollandem da America do Sal)
the
at
principal office of the Company, No. 175 South
of
BUENOS AIRES
Hocking
be held
will
-
AMSTERDAM
resolution of the Board of Directors, a
special
a
XIX
the
or
may
be
ascer¬
Broaoway, New York.
Monday, the twenty-first day of June,
on
ARTHUR H. KING.l
Joint
J. J. SPEAR,
[General Managers.
1920, at twelve o'clock noon, for the transaction
of any and all business that
may come bef >re the
meeting, including the election of three directors
to hold office for three
years.
The transfer books of the
Company will not
dose, but only stockholders of record as at 12
o'clock noon, Saturday,
May 29, 1920, will be
entitled to vote at this
meeting.
6 AUSTIN
FRIARS, LONDON, E. C. 2
By order of the Board of Directors.
J.
W. ALLEN, Secretary.
Cnpttal jfunttefjeb
CAPITAL
Illinois Trust&Savings Bank
FURNISHED
1
1
Growing
been
of
in
one
will
corporations
business for
year
soon
or
pay
them
once.
writers
over
a
have
;8!Sf
period
more—Have paid
\ *Th» S(gn of ifivk* J
at Jackson
Capital and Surplus
•
•
*
Chicago
•
$15,000,000
•
or
'
dividends—Must have
500 stockholders
nish
who
or
$100,000
Pays Interest
more—Can fur¬
to
$500,000
Address Consolidated Under¬
Accounts,
Syndicate, Inc., Stocks and
change.
Time
Deposits, Current and Reserve
at
Bonds 139 N. Clark St., Chicago, ills.
on
■
k
Deals in Foreign Ex-
Transacts
a
Has
on
hand at ail times
cellent securities.
J
a
ex-
Buys and sells
Government, Municipal
General Trust Business.
'
variety of
and
Corporation Bonds.'
[VOL. 110.
THE CHRONICLE
«
~
Jfinamfal
LEHIGH
VALLEY COAL SALES CO.
New York, May 28tii, 1920.
of Directors of the Lehigh Valley
Coal Sales Company have this day declared a
dividend of Two Dollars per share,
payable
July 1, 1920, to those stockholders of the com¬
The Board
pany
stock,
who are holders of full-share certificates of
registered on the company's books at
of business, June 17, 1920.
Checks
the
close
will
be
mailed.
BURTON. Secretary & Treasurer.
W. J.
YORK.
NEW
IN
COMMERCE
OF
BANK
NATIONAL
quarterly dividend of THREE PER CENT
(3%) has been declared upon the Capital Stock
of this Bank, payable on and after July 1, 1920,
to Stockholders of record at the close of business
A
June 18, 1920.
The Transfer Books
H.
C.
June 2,
will not be closed.
STEVENS, Second Vice-President.
1920.
GUARANTY TRUST COMPANY OF
The Board
:
NEW YORK
York, June 2nd, 1920.
New
of Directors has
declared a quar¬
terly dividend of Five Per Cent on the
Stock of this Company for the quarter
Capital
ending
that date, to stock¬
1920.
T. MURRAY Jr., Secretary.
June 30th, 1920, payable on
holders of record June 18th,
First National Bank
MATTHEW
CORPORATION
STEEL
BETHLEHEM
Notice of Dividends on
Eight Per Cent
Cumulative
Convertible
Preferred
Stock,*
Seven
Per Cent Non-Cumulative Preferred
of Boston
Stock; Common Stock
Stock.
and Class B Common
,
of 2% of the eight per
the Eight Per Cent Cumulative
Preferred Stock and the second in¬
stallment of 1X % of the seven per cent dividend
upon the Seven Per Cent Non-Cumulative Pre¬
ferred
Stock of Bethlehem
Steel Corporation
which were declared on January 29, 1920, and
The second Installment
cent dividend upon
Convertible
Capital, Surplus and Profits
$37,500,000
Deposits
1 \i% regular dividend upon the Common
Stock and Class B Common Stock of the Corpora¬
the
tion, which were declared on April 22, 1920, will
be payable on July 1, 1920, to the respective
holders of record of said four classes of stock at
the close of business on June 15, 1920; the third
installment of said dividends on said Eight Per
Cent Cumulative Convertible Preferred Stock and
on
said Seven Per Cent Non-Cumulative Pre¬
ferred Stock will be payable on October 1, 1920,
respective holders of record thereof at the
September 15, 1920; and the
on January 3,
1921, to the respective
holders of record thereof at the close of business
on December
15, 1920.
Checks will be mailed.
Dated, June 2, 1920,
R. E. McMATH, Secretary.
to the
close of business on
fourth,
$170,000,000
Total Resources'
$260,000,000
Middle
Oil
States
Corporation
Stock
The
Apportionment
stock apportionment on
Corporation, same will be
capital stock of the
paid July
Par cent
the outstanding
having declared a Fifty
Oil Corporation
(50%)
the Middle States
Beard of Directors of
10th, 1920, to stockholders of
of business June 14th, 1920.
record
at the close
C.
A.
EASTMAN, ^Secretary.
i
•
'
■
■
States
Middle
Oil
Corporation
DIVIDEND
CASSATT & CO.
ESTABLISHED 1872
SCRANTON
Board of Directors
dividend
NO. 32
of the Middle States
having declared a quarterly
Per Cent. (4%) on the
Corporation,
Oil
cash
of Four
Corporation, same will be
stockholders of record at
10th, 1920.
This is
one-third over regular cash divi¬
capital stock of the
PHILADELPHIA
PITTSBURGH
The
paid July 1st, 1920, to
BALTIMORE
the
close
of business June
increase
an
dends
of
heretofore.
C.
A.
EASTMAN, Secretary.
i
Announce the removal of
their
ALLIS-CHALMERS
New York Office
on
From 56 Wall Street to
5 NASSAU
STREET
(Hanover National Bank
TELEPHONE
Building)
RECTOR 3107
INC.
June
The Board of
Directors has
4,
1920.
declared a dividend
seventy-five cents ($1.75) per share
for quarter ending June 30th, 1920, on tne pre¬
ferred stock of this Company, payable July 15th,
1920, to preferred stockholders of record at the
close of business June 30th, 1920.
Checks for
such dividend will be mailed to preferred stock¬
holders and to holders of voting trust certificates
for preferred stock remaining unexchanged
of
record June 30th, 1920.
of One Dollar
„
^
There was also declared a dividend of One
Dollar ($1.00) per share on the common stock,
payable August 15th, 1920, to holders of common
stock of record at the close of business, July 31st,
1920.
Checks for such dividends will be mailed
to
!
MANUFACTURING
COMPANY
June 1,1920
preferred stockholders and to
holders of voting
trust certificates for common stock remaining
unexchanged of record July 31st, 1920.
Transfer books will not be closed.
H. WOODLAND, Secretary and Treasurer.
'
June 5 1920.]
THE CHRONICLE
XXI
jHiiandal
The American. Sugar
Refining Company
PREFERRED DIVIDEND*
COMMON
State Tax
DIVIDEND*
The Board of Directors has declared
the
following dividends
On the Preferred
dividends of
each,
cent
Stock two
and
one
payable
on
first
i
of record
the second
on
the first
Every
pay¬
day of October
the Stockholders of record
to
on
imposes
each, being the 115 *.h and 116*1* con¬
secutive dividends thereon < the first
the second day of July 1920
on
the Stockholders of record on the
first day of June 1920; the second pay¬
able on the second day of October
the first
each, the first payable
day of July 1920 to the
on
Returns
within
thirty
under certain
days
after
the Government.
Wei have
the
prepared for distribution
containing
Stock¬
a
booklet
a
synopsis of the principal
holders of record on the first day of
dune 19201 the second payable on the
second day of October 1920, to the
Stockholders of record on the first
including the amendments of 1920.
day of September 1920
of this
visions of the law,
Ths Transfer Books will not be closed.
EDWIN T.GIBSON
the
Federal income tax return has been filed with
on
day of September 1920
second
before July 1, 1920, or,
or
conditions,
On the Common Stock two additional
dividends of three-quarters of one per
cent
or
must be filed with the State Tax Commission
to
1920 to the Stockholders of record
organized
tax of 4}^% on income.
a
cent
on
corporation
to the New York State Franchise Tax Law which
quarterly
and three-quarters per¬
one
business
doing business within New York State is subject
day of September 1920.
On the Common Stock two
dividends of
payable
Corporations
the
on
day of June 1920; the second
able
Business
con¬
the first
the second day of July 1920
to the Stockholders
1920
per
being the 114*1* and 115*1*
secutive dividends thereon
Incomes of-
on
quarterly
three-quarters
Copies
booklet, and blank forms for making
returns, may be obtained at any of
S«cr«Ury.
pro¬
together with its full text,
offices,
our
will be sent upon request.
or
United States Worsted Company
Guaranty Trust Company
The following dividends have been
declared by the directors of the United
States Worsted Company:
First Preferred—Dividend
of New York
of $1.75
140
a
share payable July 15th to stock¬
holders of record at the close of business
Second
$1.75
Preferred—Dividend
share payable June 19th
a
stockholders
of
record
at
the
Broadway
Fifth Avenue Office: Fifth Avenue and 44th Street
July 8.
Books closed from close of busi¬
ness
July 8 to opening of business
July 16.
Madison Avenue Office: Madison Avenue and 60th Street
Grand Street Office: 268 Grand Street
of
Capital
to
close of
&
Resources
Surplus
more
$50,000,000
than
$800,000,000
business June 15.
Books closed from
close of business June 15 to the
opening
of business June 21.
Bifatbetttotf
Common—Dividend of 1A% of the
value of the Common Stock to be
Ufolbeniw
par
paid July 1st to
common
stockholders
of record at the close of business June 23.
Books closed from the close of business
June 23 to the opening of business
July 2.
C. W. SOUTHER, Treasurer.
UNITED
DYEWOOD
CORPORATION.
New York, June 1st, 1920.
Preferred Capital Stock Dividend No. 15.
Common Capital Stock Dividend No. 15.
The following dividends on the stocks of this
Corporation have been declared: A dividend of
$1 75 per share (from a sum set aside for the pay¬
of $7 00 per share for the year 1920) on
the preferred stock, payable July 1st, 1920: a
dividend of $1 50 per share on the Common
Stock, payable July 1st, 1920, payable to stock¬
ment
holders
stocks
of
at
record
the
close
of
Preferred
of
business
and
Common
Tuesday,
June
15th, 1920.
The transfer books will not be closed.
Checks will be mailed by the New York Trust
Company of New York.
DE
WITT CLINTON JONES, Treasurer.
AMERICAN
LOCOMOTIVE CO.
30 Church Street, New York, May 20,1920.
A
Quarterly Dividend of One and Threequarters Per Cent (1 %%) upon the Preferred
Capital Stock of the American Locomotive Com¬
pany has
oeen
declared payable on June 30,
1920, to the Preferred Stockholders of record
at the close of business on June 11, 1920.
Divi¬
dend checks will be mailed June 29, 1920.
A (Quarterly Dividend of One and One-half
Per Cent (1H%)
upon the Common
Capital
Stock of the Company has been declared payable
on June 30, 1920, to the Common Stockholders of
record at the close of business on June 11, 1920.
Dividend checks will be mailed June 29, 1920.
W. SPENCER ROBERTSON, Secreoary.
INTERNATIONAL
AGRICULTURAL CORPORATION.
New York. May 21, 1920.
The
Board
of
Directors
of
the
International
Agricultural Corporation has this day declared a
quarterly dividend of one and one-quarter per
cent (IM%) on the Preferred Stock of the cor¬
poration, payable July 15, 1920, to stockholders
of record at the close of business June 30, 1920.
The transfer books will not be closed.
JOHN
J.
WATSON. JR., Treasurer.
THE
NIAGARA FALLS POWER COMPANY,
Niagara Falls, New York, May 28, 1920.
PREFERRED
At
STOCK
DIVIDEND
NO.
7.
Eayable of said preferred sharesofofJuly, 1920, the
on the fifteenth day
to
olders
record at
business
of
the
on
thirtieth
day
of June,
1920.
FREDERICK L.
THE
NIAGARA
FALLS POWER COMPANY,
STOCK
DIVIDEND
i920.
NO.
6.
meeting of the Board of Directors of this
1920, a
Fifty Cents ($1 50)
per share wae declared on the common shares in
the
capital stock of this Company, payable
June 15, 1920, to holders of said common stock
of record at the close of business on June 8, 1920.
FREDERICK L. LOVELACE, Secretary.
a
Company held this 28th day of May,
dividend of One Dollar and
E. I. DU PONT DE NEMOURS & COMPANY.
Wilmington, Del., May 26, 1920.
The Board of Directors has this day declared
a dividend
of 4M% on the Common Stock of
this Company, payable June 15th, 1920, to stock¬
holders
or
record at the close of business
29th, 1920.
lows:
lars
on
Said dividend to be payable
as
fol¬
Two dollars per share in cash, and two dol¬
fifty cents per share in
Capital Stock of this Company of
of one hundred dollars per share;
of 1)4% on the Debenture Stock
the Common
the par value
also dividend
of this Com¬
pany, payable July 26th, 1920, to stockholders
of record at close of business on July 10th, 1920.
ALEXIS I. du PONT, Secretary.
United Shoe Machinery Corporation
clared
Directors
a
this
Corporation
have
AMERICAN
&
GILLULY, Secretary.
FOUNDRY COMPANY.
New York, June 2, 1920.
PREFERRED CAPITAL STOCK
DIVIDEND NO. 85.
A dividend of one and tnree-quarters per cent
(l%%) on the Preferred Stock of tnis Company
has
this
July
1,
day been declared payable Thursday,
1920, to Stockholders of record at the
close of business Tuesday, June 15, 1920.
Checks will be mailed by the Guaranty
Company of New York.
II. C. WICK,
AMERICAN
CAR
&
Trust
S. S. DeLANO,
Treasurer.
Secretary.
FOUNDRY
COMPANY.
New York, June 2, 1920.
COMMON CAPITAL STOCK
DIVIDEND NO. 71.
A quarterly dividend of tnree per cent (3%)
on tne Common Stock of tnis Company has this
day been declared, payable Thursday, July^l,
1920, to stockholders of record at the closeJof
business Tuesday, June 15, 1920.
*«*
Checks will be mailed by the Guaranty Trust
Company of New York.
H.C.WICK,
Secretary.
_
S. S. DeLANO,
Treasurer.
CITIES SERVICE COMPANY
de¬
share on the Common capital stock.
dividends
are
CAR
K.
Bankers Shares
MONTHLY DISTRIBUTION NO.
16
They have also declared a dividend
of $1.50 per
The
of
GEORGE
dividend of 1K % on the Preferred capi¬
tal stock.
stock
56.
hereby given that the regular quar¬
terly dividends of one dollar and seventy-five
cents ($1 75) per share on all outstanding First
Preferred 8tock, and two dollars ($2 00) per share
on all outstanding Second Preferred Stock of this
company will be paid on July 1, 1920, to stock¬
holders of record as shown by the books of the
company June 10, 1920.
Checks will be mailed.
May
and
The
No.
Notice is
LOVELACE, Secretary.
Niagara Falls, New York, May 28,
COMMON
At
Dividend
Stock
meeting of the Board of Directors of this
a
Company held this 28th day of May, 1920, a
dividend of One Dollar and Seventy-five Cents
($1 75) per share was declared on the preferred
shares in the capital stock of this Company,
close
Remington Typewriter Co.
Preferred
on
both
Preferred
and
Common
payable July 6, 1920, to stockholders
of record at the close of business June 15, 1920.
L.
A.
COOLIDGE, Treasurer.
Henry L. Doherty & Company announce that
the
sixteenth
monthly
distribution
of
Cities
Service Company Bankers Shares payable July 1,
1920, to holders of Bankers Shares of record June
15,1920, will be 46.25 cents per Bankers Share.
[VOL. 110.
THE CHRONICLE
XXII
mfotoenb*
jTinatutal
Swift &
Company
Union Stock Yards,
Chicago
Dividend No. 138
NEW ISSUE
Dividend of TWO DOLLARS ($2.00)
EXEMPT FROM ALL FEDERAL
paid
on
June
'
Company,
$375,000
.
C. A. PEACOCK, Secretary
N. C.
Buncombe County,
Seaman's Oil Co.
DIVIDEND NO. 13.
(City of Asheville County Seat)
9:',
The regular
6% Road and Bridge Bonds
Principal and semi-annual interest payable in New York, N. Y.
cent. (5%) is due and payable
June
1920,
30,
$150,000,000
34,835,458
Bonded Debt (including this issue).2,910,000
Population (1910 Census)
49,798
(1919 Estimate)
60,000
♦Actual Value Texable Property--..
HOUSTON B. TEEHEE, Treasurer.
OFFICE
The North Carolina Law,
bonds
These
effective July 1, 1920, requires
at
all property
M.
are
a
The Board of Directors
the
of the Arkansas Valley
Railway, Light & Power Company has declared
the regular quarterly dividend of one and three
quarters per cent on the -preferred stock of the
Company, payable by check June 15th, 1920, to
stockholders of record as of the close of business
approximately its true value.
direct obligation of the entire
unlimited tax on all the
County and are payable from an
taxable property therein.
OF
BYLLESBY & COMPANY.
CHICAGO, ILLINOIS.
H.
"
♦
to all stockholders of
record June 15, 1920.
Assessed Valuation for Taxation
assessment of
quarter annual dividend
of five per
FINANCIAL STATEMENT
Total
per share on
stock of Swift & Company, will be
July 1, 1920, to stockholders of record,
10, 1920, as shown on the books of the
the capital
INCOME TAXES
May 31st, 1920.
ROBERT J.
GRAF, Treasurer.
MATURING
OF
OFFICE
May 1, 1922-36, inclusive
H.
and
of the Standard Gas &
declared the regular
quarterly dividend of two per cent on the pre¬
ferred stock of the Company, payable by check
June 15th, 1920, to stockholders of record as of
the close of business May 31st, 1920.
The Board of Directors
Interest
has
Company
Electric
Yielding
ROBERT
6%
Send for
f'-
-
CHICAGO, ILLINOIS.
Having sold a large part of these bonds, we offer the
subject to sale and approval by our attorney at
balance
100
■■■'■
& COMPANY.
BYLLESBY
M.
H.
complete descriptive circular C-S3
J.
OFFICE
■
'
& COMPANY.
BYLLESBY
M.
GRAF, Treasurer.
OF
CHICAGO, ILLINOIS.
of Directors of the Muskogee
has declared the regular
quarterly dividend of one and three-quarters
per cent on the preferred stock of the Company,
The
Board
Gas & Electric Company
R. M. GRANT & CO.
Eay able of record as of
olciers
by check June
31 Nassau St., New York
St« Louis
Boston
Chicago
Portland, Me.
15th,close of to stockthe
1920, business
May 31st, 1920.
>
ROBERT J. GRAF, Assistant Secretary.
OFFICE
H.
M.
BYLLESBY
OF
& COMPANY,
CHICAGO, ILLINOIS.
The Board of Directors of the Oklahoma Gas
lOibtbenb*
SUGAR
COMPANY
112 Wall Street, New York, June 3, 1920.
The
Board
of Directors
of the
MAN ATI
SUGAR COMPANY have declared the regular
MANATI
American
Telephone & Telegraph Co.
Thirty-Year Five Per Cent Collateral
Trust Qold Bonds
Due Dec. 1
1946.
Coupons from these bonds, payable
terms
of
on
the
by their
June 1, 1920, at the office or agency
New
in
Company
York
or
in
quarterly dividend of l%%
upon
books
June
of the Company at the close of business
15, 1920.
MANUEL E. RIONDA, Treasurer.
Boston,
Southwestern Land & Oil Co, Inc.
Company, 16 Wall Street.
G.
D.
MILNE, Treasurer.
Electric
Company
quarterly
ROBERT J. GRAF, Assistant Secretary.
the preferred
stock of the Company, payable July 1, 1920, to
holders of preferred stock of record upon the
York at the Bankers Trust
will be paid In New
has declared the regular
dividend of one and three-quarters
per cent on the preferred stock of the Company,
payable June 15th, 1920, to stockholders of
record as of the close of business May 31st, 1920.
&
THE PIERCE-ARROW MOTOR CAR CO.
The Board of Directors has declared the regular
quarterly dividend of two per cent. (2%) on the
preferred stock of the Company, payable July 1,
1920, to stockholders of record at the close of
business June 15, 1920.
E.
New Orleans, La., June 1, 1920.
Oil
Co. have declared a quarterly dividend of three
per cent (3%) on the capital stock of that com¬
pany.
The dividend is payable June 15th, 1920,
to stockholders of record June 8th.
C.
PEARSON, Secretary.
The Directors of the Southwestern Land &
American
Telephone & Telegraph Co.
M.
of Two Dollars per share will be
Thursday, July 15, 1920, to stockholders
of record at the close of business on Saturday,
A dividend
paid
R.
BEAUVAIS,
Secretary & Treasurer.
on
June 19, 1920.
G.
BARNET LEATHER CO.
81 Fulton Street.
D. MILNE, Treasurer.
INC.
New York, June
E. W. CLARK & CO., Bankers.
Office of the
HUNTINGTON DEVELOPMENT & GAS CO.
PREFERRED STOCK DIVIDEND NO. 14.
The Board of Directors of the Huntington De¬
velopment & Gas Co. has declared the regular
be mailed.
M. H. HEYMAN, Treasurer.
FRANK T.
CLARK, Secretary.
Gum Cove Oil & Refining Company
Brooklyn, N. Y.. May 18, 1920.
DIVIDEND
98.
A
nave
declared
a
quarterly dividend of two
per centJ2%) and an extra dividend of one per
cent (1%) on the capital stock of that com
lpany.
p:
payable June 20, 19 20, to
stockholders of record June 10, 1920.
L. A. MORGAN,
These
dividends
are1
Secretary and Treasurer.
Bank Executive seeks position as
for
regular quarterly dividend of 2H per cent
capital stock of Mergenthaler Linotype
Company wRl be paid on June 30, 1920, to the
stockholders of record as they appear at the
close of business on June 5, 1920.
The Transfer
Secretary
of large means who desires
detail.
Experienced in the
investments and
care
of
$7,500.
References.
Per*
Address Bank Executive,
man or woman
of
conservation
of
estates.
sonal
care
Salary
interview.
Financial Chronicle, 138 Front St., N. Y
the
on
TLast.
Boods will not be closed.
JOS.
T.
MACKEY, Treasurer.
LOST.—Notice is hereby given that Certificate
Vinton, La., June 1,1920.
The Directors of the Gum Cove Oil & Refining
Co.
fganttS
to be relieved
MERGENTHALER LINOTPYE CO.
record at the close of business June 15th, 1920.
tees' Certificates of Deposit.
1, 1920.
A quarterly dividend of one and tnree-quarters
(1%) per cent has been declared upon the pre¬
ferred stock of Barnet Leather Co., Inc., payable
July 1, 1920, to stockholders of record at the
close of business June 18,
1920.
Checks will
quarterly dividend of One and one-half per cent
(1H%) upon the Preferred stock of the Com¬
pany, payable July 1st. 1920, to stockholders of
Checks will be mailed to holders of Voting Trus¬
AMERICAN CAN COMPANY.
A
quarterly dividend of One and ThreeQuarters Per Cent has been declared on the
Preferred
Stock
of
this
Company,
payable
July 1st. 1920, to Stockholders of record at the
close of business June 16th, 1920; Transfer Books
will remain open.
Checks mailed.
R. H. ISMON,
Secretary & Treasurer.
31947, issued in the name of Domtnick A
Dominick, for ten shares of Common stock of the
Crucible Steel Company of America has been lost.
No.
THE YALE & TOWNE MANUFACTURING CO.
DIVIDEND NO.
A dividend. No.
107.
107, of five por cenf(5%) for
quarter ending June 30th, 1920, has been
declared by the Board of Directors out of past
earnings, payable July 1st, to Stockholders of
record at the close of business June 18th.
J. H. TOWNE. Secretary.
the
Application has been made for a duplicate certifi¬
cate and
all persons are warned against nego¬
tiating said lost certificate.
DE^COPPET & DOREMUS,
42 Broadway, N. Y. City.
THE ELECTRIC STORAGE BATTERY CO.
Allegheny
Avenue & 19th Street.
Phila., June 2, 1920.
The Directors have declared a quarterly divi¬
dend of Two and One-half Dollars ($2.50) per
share from the net earnings of the company on
and
preferred stocks, payable
July 1,1920, to stockholders of record at the close
of business on. June 14, 1920.
Checks will be
both
common
mailed.
WALTER G.
HENDERSON, Treasurer.
KELLY-SPRINGFIELD TIRE CO.
quarterly dividend of one dollar and fifty
($1.50) per share on the Six Per Cent
Preferred Stock of this Company has been de¬
clared, payable July 1, 1920, to stockholders
of record at the close of business June 15,1920.
F. A. SEAMAN, Secretary.
New York, June 1, 1920.
A
cents
SALE OF THE CONTROL
la Banks and Corporations negotiated
confidentially.
JACOB BACKER, FINANCIAL BROKER
Exchange Bank Bldg.
ST. PAUL, MINN.
JUNE 5 1920.]
THE CHRONICLE
XXIII
jFfaaotial
Answering the
CANADA
HSI
Call of Far
Eastern Trade
A CCORDING
to
recent
estimates, fully 75 per cent
to-day are traveling on
business, and only 5 per cent are tourists.
Before the war
business men furnished only about 5 per cent of the travel
^
of
trans-Pacific
passengers
while tourists contributed
75
cent,
per
Thit tremendous movement toward the Far East
is evidence
of
the
remarkable
growth of that territory as a field for American com¬
mercial and industrial enterprise.
Complete facilities to provide for your banking needs in the further¬
ance of your Far Eastern business
are available through branches
of the Park-Union Foreign Banking Corporation in China and Japan.
OFFICERS
Charles A. Holder
T. Fred
President
E. B. MacKenzie
Aspden
Vice-President
Secretary & Treasurer
BRANCHES
SAN
FRANCISCO
SEATTLE
TOKIO
YOKOHAMA
SHANGHAI
PARIS
56 Wall Street, New York
Paid Up
Capital and Surplus $2,250,000
1'
■■
'
.
.
Thomas C. Perkins
Constructive
15 State Street
'
:
Manager—Stock Sales
Banking
A
36 Pearl Street
Boston, Mass.
■'
well-established
patent
Hartford, Conn.
rights
manufacturing
machinery
for
controlling
concern
revolutionizing
one
of
largest industries in the Country, doing business with
and
endorsed
Specialist for eighteen
in the Financing
important
of eetaollshed and pros¬
on
years
Industrials.
perous
very
by U. S. Government and
concerns
liberal terms,
recommended
Well
Entire
stock
issues
can
and distributed
make fortune.
ability and
State
:
-
on
of most
the market.
Sales
established sales force
underwritten
many
in U. S., wants to place its stock,
or
either
Manager,
with
capable of organizing
Must be
high type
own
same,
of
proven
first
letter.
man
success.
detailed
and
experience
terms
.1
in
.
Replies strictly confidential.
Address
replies: Sales Manager, 333,
care
The Financial
Chronicle, 138 Front Street, New York City.
NEW ISSUE
BROOKS STEAMSHIP
CORPORATION STOCK
Circular
on
Request
International Banking
Announces Removal
June 1st,
R.C. Meg argel & Co.
27 Pine
Street, New York
Corporation
to
its
own
1920
Building
60 WALL
STREET
I
*
'
Telephone, Hanover 5700—unchanged.
-*
I
[VOL. 110.
THE CHRONICLE
XXIV
jfimntial
'
If
said
an
trustee,
■
i
eminently successful business man to a
friend who had
upon
requested him to become his
"I would not place such responsibility'
the shoulders of an individual. Who knows
hold ? I, myself,
what the next ten years may
may
Were
You"
precede
or a
month.
you or
survive
In that
you
by only
a
week
unfinished obliga¬
case my
tions would have to be transferred to another.
"That sort of
concerned.
thing is most unsatisfactory for all
Even if I should live to
a
ripe old
age,
the demands of my own affairs would distract
my
attention from the
yours.
I
may want to
break down
of
perhaps I might
proper management
travel,
or
physically or financially.
"My
affairs
own trust
handled
Trust
Company. That's
their
They
job.
trained for it.
are
They have
the advantage
of perma¬
I know where to
nence.
find them.
more
are
by the Bankers
than
They
are
satisfactory.
f *
Now if I
Thus
we
were
you -
have obtained,
many
of
our
clients.
Our pamphlet 4 4 Why a Trust Company
explains this service and we shall be glad to
send it to you on request.
VA Tower of Strength"
Bankers Trust Company
Member Federal Reserve
System
Downtown Office;
AstorTrust Office:
16 Wall Street
*?thAyenue at 42nd Street
June 5 1920.]
THE CHRONICLE
XXT
jfftramfal
Cleveland
Population
Doubles
twenty
every
That has been its past record.
years.
Present increase
points to
even
faster growth to
come.
Wf1 *
Cleveland is the
They spend
land
estimated $2,000,000
an
stores.
buying center of 3,000,000 people.
They
mobile—thousands of them every
mile radius and their
ments
must
read
if
they read
one
day from
a
hundred
buying guide in invest¬
common
in all else—the
as
day in Cleve¬
a
by train, trolley and auto¬
come
Cleveland newspaper
they
morning paper—is The
any
Plain Dealer.
No other newspaper
of
performs the double function
covering Northern Ohio
well
as
strongly influences folks with
so
both Cleveland and its
Cleveland.
as
None
to invest in
money
tributary territory
as
The Plain Dealer
■'
■
.
.
•
.
■
'
:
.
' .''.i
'
'■ "
.
Leading Financial Authority between New York and Chicago
CLEVELAND
Eastern
Representative:
JOHN B.
WOODWARD
Times
New
Building
York
Western Representative:
JOHN
GLASS
Peoples Gas Building
Chicago
[Vol. 110.
THE CHRONICLE
XXVI
————
^financial
\T~ \JtniJ
TJ* X7
t/T7—\J " \Jr X7
SS^TffTTg
A National Investment
Service
THROUGH offeraid investment serviceof our correspondents we are
the
and co-operation national in scope.
enabled
to
We have the
an
privilege of being
connected by private wires with the
offices in various cities:
following well known firms having
v
Hartford, Conn.
Hartford, Conn.
Montreal, Canada
Boston, Mass.
Springfield, Mass.
Lorenzo E. Andergon
Ottawa, Canada
Hincks Bros. & Co.
& Co.
Otis & Co.
Bridgeport, Conn.
Mo.
Chandler
Anderson & Powell
Cleveland, Ohio
Cincinnati, Ohio
Hovey & Co
Akron, Ohio
Boston, Mass.
Cincinnati, Ohio
Columbus, Ohio
Hulburd, Warren
Allen Arnold & Co.
Springs, Colo.
Denver, Colo.
Battle Creek, Mich.
Conn,
Boston, Mass.
Detroit, Mich.
Rapids, Mich.
Kalamazoo, Mich.
Grand
Beazell & Chatfield
Cincinnati, Ohio
§• B. Pearmain
Lansing, Mich.
Dayton, Ohio
Boston, Mass.
Chas. A. Phelan & Co.
W. W. Lanahan & Co.
Cassatt & Co.
Boston, Mass.
Baltimore, Md.
Philadelphia, Pa.
Pittsburgh, Pa.
Baltimore, Md.
New York, N. Y.
Learoyd, Foster & Co.
Proctor, Cook & Co.
Boston, Mass.
Boston, Mass.
F. A. Schirmer & Co.
Long & Nash
Clark, Griffith
Boston, Mass.
Boston, Mass.
& McWain
Secor, Bell & Beekwith
N. A. MacDonald
Boston, Mass.
Hugh J. Dimond & Co.
Toledo, Ohio
& Co., Inc.
Buffalo, N. Y.
Boston, iMass.
Downer & Co.
J. W.
Stevenson & Co.
Pittsburgh, Pa.
Wheeling, W. Va.
John L. Edwards & Co.
Washington, D. C.
T. F. Gagen & Co.
Sparks & Co.
Philadelphia, Pa.
New York, N. Y.
A. E. Masten & Co.
Boston, Mass.
New Haven, Conn.
H. C.
Moorbead & Elmore
Wainwright & Co.
Washington, D. C.
Boston, Mass.
Morris, Brown & Co.
Whitney & Elwell
Boston, Mass.
R.
Colorado
Chicago, 111.
Ball & Co.;
;
Youngetown, Ohio
& Chandler
Boston, Mass.
New Lortdon,
Y.
O'Brien & Williams
E. M. Hamlin & Co.
Inc.
Boston, Mass.
New York, N.
New Britain, Conn.
Alden, Bernie & Co.,
St. Louis,
Naphen & Co.
Goodwin-Beach & Go.
Adams, Merrill & Co.
Glendinning & Co.
Boston, Mass.
Pittsburgh, Pa.
Philadelphia, Pa.
,
and accurate investment
municipalities, railroads, public
Through this association, clients receive prompt
service in the securities of
utilities and industrial
governments,
corporations.
HORNBLOWER
Investment Securities
PORTLAND
PROVIDENCE
WEEKS
NEW YORK
BOSTON
Members
&
of
I
the
New
CHICAGO
DETROIT
Founded in 1888
York,
Boston
and
Chicago
Stock
Exchanges
5C
I
June 5 1920.]
THE CHRONICLE
xzrn
^financial
New Issue
$6,000,000
American Light & Traction Company
Five Year 6% Gold Notes
COMMON STOCK PURCHASE WARRANTS ATTACHED
The Notes upon issuance will
carry detachable
thereof
Warrants entitling the holder
purchase, within the periods below fixed, Common Stock of the
Company
to
in the ratio of two-thirds of
$142 per share
on
one
or
share for each $100 face value of
Notes, at
before May 1, 1922;
$147
share thereafter
to and
including May 1, 1924; and
$152
Dated
per
per
share thereafter
to and
including May 1, 1925.
May 1, 1920
Due May 1, 1925
Interest payable
semi-annually, May 1 and November 1, in New York.
Coupon Notes in denominations
of $1,000, $500 and
$100, registrable as to principal only.
Redeemable as a whole or in lots of $100,000
or more on
May 1, 1922, or any subsequent interest date on sixty days' published notice at 101.
BANKERS TRUST COMPANY, NEW
YORK, TRUSTEE
Interest
payable without deduction for Federal Income Taxes
the source, not in
excess
now
or
hereafter deductible
at
of 2%.
TAX REFUND IN PENNSYLVANIA
The
following information is summarized from
a
of the Company:
The American Light & Traction
Company was
organized in 1901, and owns over 99% of the
capital stocks of fourteen operating companies
engaged principally in the production and sale of
gas and electricity for light, heat and power.
The business fields embrace
a
present estimated
some of the
population of 2,400,000, and include
most
important manufacturing and industrial cities
in the country
notably Detroit and Grand Rapids,
Michigan; Milwaukee and Madison, Wisconsin;
St. Paul, Minn.; San
Antonio, Texas; St. Joseph,
Missouri, and Binghamton, New York.
,
These Notes will constitute the sole funded debt
of the American
Light & Traction Company, the
equity being represented by Preferred and Com¬
mon
Stocks having a market value, based on
present quotations, in excess of $40,000,000.|
The
thereof
detachable
Warrants
entitle
the
purchase, during the periods stated
above, Common Stock of the Company at prices
ranging from $142 to $152 per share.
The range in
quotations for the Common Stock during the past
ten years has been from $125 to $450
per share.
Price 94.75 and
we recommend
Cash dividends have been paid on the Common
Stock
during the past seventeen years, the rate
since 1911 having been 10% per annum, and in
addition stock dividends of 10%
per annum have
been paid since 1909.
The net income of the American
Light & Trac¬
Company for the twelve months ended March
31, 1920, amounted to $4,201,139, as compared
with annual interest
requirements on the Five
Year 6% Gold Notes of $360,000.
During this
period the consolidated gross earnings of the Com¬
pany and the operating companies were $22,686,216, and net earnings $5,826,016, as compared
tion
with interest and other deductions of the
operat¬
ing companies and annual interest
amounting to $1,984,877.
holder
to
letter of Mr. Alanson P. Lathrop, President
on
these Notes
The operating companies have been in existence
from
an
twenty to sixty years and have shown
uninterrupted growth regardless of general
business
conditions.
The
management
of
the
Company is in the hands of the same men who
have conducted its operations since its
inception.
Interest—Yielding Over 7y4%
these notes for investment
The Notes
are
offered if, when and as issued, subject to
prior subscription by the stock¬
opinion of counsel as to the legality of the issue and the propriety and sufficiency
of corporate action with
respect thereto.
It is anticipated that temporary Notes will be ready
for delivery on or about June
15, 1920.
holders and
to
Halsey, Stuart
CHICAGO
The National City CompAny
NEW YORK
All statements herein
&
Co.,
inc.
NEW YORK
Bankers Trust Company
NEW YORK
are official, or based on information which we regard as
reliable, and while we
do not guarantee them they are the data
upon which we have acted in the purchase of this security.
JmE 5 1920.]
THE CHRONICLE
xxrn
jffitattda!
New Issue
$6,000,000
American Light & Traction
Company
Five Year 6% Gold Notes
COMMON STOCK PURCHASE WARRANTS ATTACHED
The Notes upon issuance will
carry
thereof to purchase, within the
in the ratio of two-thirds of
$142 per share
on
detachable Warrants entitling the holder
periods below fixed, Common Stock of the Company
one
or
share for each $100 face value of
Notes,
at
before May 1, 1922;
$147 per share thereafter to and
including May 1, 1924; and
$152
including May 1, 1925.
per
share thereafter
to
and
Dated May 1, 1920
Due
May 1, 1925
Interest payable
semi-annually, May 1 and November 1, in New York.
Coupon Notes in denominations
of $1,000, $500 and $100,
regist©rable as to principal only.
Redeemable as a whole or in lots of $100,000
or more on
May 1, 1922, or any subsequent interest date on sixty days' published notice at 101.
BANKERS TRUST COMPANY, NEW
YORK, TRUSTEE
Interest
payable without deduction for Federal Income Taxes
the source, not in
excess
now
or
hereafter deductible
at
of 2%.
TAX REFUND IN PENNSYLVANIA
The following information is summarized
from
of the Company:
The American Light & Traction
Company was
organized in 1901, and owns over 99% of the
capital stocks of fourteen operating companies
engaged principally in the production and sale of
gas and electricity for light, heat and power.
The business fields embrace
a
These Notes will constitute the sole funded debt
of the American
Light & Traction Company, the
equity being represented by Preferred and Com¬
mon
Stocks having a market value, based on
present quotations, in excess of $40,000,000.
The
detachable
Warrants
entitle
the
Cash dividends have been paid on the Common
Stock during the past seventeen
years, the rate
since 1911 having been 10% per
annum,
and in
addition stock dividends of 10% per annum have
been paid since 1909.
Price 94.75 and
we recommend
The net income of the American
Light & Trac¬
Company for the twelve months ended March
31, 1920, amounted to $4,201,139, as compared
with annual interest requirements on the Five
Year 6% Gold Notes of $360,000.
During this
period the consolidated gross earnings of the Com¬
pany and the operating companies were $22,686,216, and net earnings $5,826,016, as compared
tion
with interest and other deductions of the
operat¬
on these Notes
ing companies and annual interest
amounting to $1,984,877.
holder
to
purchase, during the periods stated
above, Common Stock of the Company at prices
ranging from $142 to $152 per share.
The range in
quotations for the Common Stock during the past
ten years has been from $125 to $450
per share.
The
letter of Mr. Alanson P. Lathropy President
present estimated
population of 2,400,000, and include some of the
most important
manufacturing and industrial cities
in the country, notably Detroit and Grand
Rapids,
Michigan; Milwaukee and Madison, Wisconsin;
St. Paul, Minn.; San Antonio,
Texas; St. Joseph,
Missouri, and Binghamton, New York.
thereof
a
The operating companies have been in existence
twenty to sixty years and have shown
from
an
uninterrupted growth
business
conditions.
regardless
of
general
The
management of the
Company is in the hands of the same men who
have conducted its operations since its
inception.
Interest—Yielding Over 7
these notes for investment
Notes
are
offered if, when and as issued,
subject to prior subscription by the stock¬
opinion of counsel as to the legality of the issue and the propriety and sufficiency
of corporate action with
respect thereto.
It is anticipated that temporary Notes will be ready
for delivery on or about June
15, 1920.
holders and
to
Halsey, Stuart
CHICAGO
The National City Company
NEW YORK
/
&
Co.,
inc.
NEW YORK
Bankers Trust Company
NEW YORK
All statements herein are official, or based on information which we
regard as reliable, and while we
do not guarantee them they are the data upon which we have acted in the
purchase of this security.
[VOL- 110-
THE CHRONICLE
xxtiii
:
Jffaandal
:v-::
.
•v..:.-'-
■'
■
.
'
■■
•'
.
:V'"
-
•
■
•' •■•'
$10,000,000
Railroad Company
Union Pacific
Seven Per Cent Serial
Dated
June
1,
1920.
June
1,
Bearer Certificates of $1,000 each, with privilege of
7%
Equipment Trust Certificates
Maturing in approximately equal annual installments
on
at the rate of
■v'-V-
per annum,
1924 to 1935, inclusive
registration
as
to principal.
Warrants for the semi-annual dividends
payable Juue 1 and December 1 in New York City.
Principal and dividends payable at the agency of the Trustee in the
City of New York in gold coin of the United States
without deduction for any tax or taxes
Railroad Company or the Trustee may be
required to pay or retain therefrom under any present or future law of the United States of
America, or of any State, County, Municipality, or other taxing authority therein.
of America,
of
or
equal to the present standard of weight and fineness, and
(other^than Federal income taxes) which the Union Pacific
The Certificates
are
to be issued under an
Equipment Trust Agreement by the Commercial Trust
Company of Philadelphia, as Trustee, covering the le^se to
rental sufficient to pay
ment
the Union Pacific Railroad Company, at a
principal and dividends of the certificates as they severally mature,
of new equip¬
costing approximately $15,000,000 and including:
2 Steel
25 Locomotives and Tenders, 2-10-2 type
19 Locomotives and
16 Locomotives
30
Tenders, Mallet type
25 Steel
and Tenders, Mikado type
10 Locomotives and
Baggage Cars
2,000 Steel Gondola Cars
Tenders, Pacific type
45 Caboose Cars
Switching Locomotives and Tenders
Pending the delivery of the equipment, cash equal to the face
under the
Dining Cars
40 Steel Chair Cars
value of the certificates is to be deposited
time as1 equipment is delivered, to
Equipment Trust Agreement to be withdrawn from time to
the extent of two-thirds of the cost thereof.
TheYmdersigried will receive subscriptions for the above
certificates, subject to allotment, as
follows:
>•>'
Certificates maturing June 1, 1924 at 100
ft
ft
tf
ft
"
if
ft
tf
tf
ft
ft
ft
ft
ft
" 100
%
tf
it
It
it
ft
ti
it
1, 1932
%
1, 1928 " iooy8%
1, 1929 " iooy4%
payable in New York against delivery of temporary
by
us,
and subject to approval of the issue
approval of the proceedings by
our
1930 at 100%%
" 100%%
1, 1931
it
it
ft
1, 1927 " 100
ft
It
and Fas issued and received
authorities and
it
tf
%
1, 1926 " 100
1, 1925
all and "accrued dividend
Certificates maturing June 1,
%
ft
"
by
" 100%%
1, 1933 " 1003/4%
1, 1934 " 100%%
1, 1935 " 101
certificates if, when
public
any necessary
counsel.
KUHN, LOEB & CO.
New^York, June 2, 1920.
All the above certificates
having been sold, this advertisement appears as a
%
matter of record only.
June 5 1920.]
THE CHRONICLE
XXIX
Jftttanrtal
*
•
Messrs. J. P. Morgan & Co. and
Guaranty Trust Company of New York, fiscal agents in the
United States for the Belgian Government, in
conjunction with the First National Bank of N. Y.,
City Co., Bankers Trust Co., Central Union Trust Co., Chase National Bank,
National Bank of Commerce, Liberty National Bank,
Harris, Forbes & Co., William A. Read
& Co., Kidder, Peabody &
Co., Lee, Higginson & Co., all of New York; and Central Trust
Co. of Illinois, Continental & Commercial Trust &
Savings Bank, First Trust & Savings Bank,
The National
Illinois\Trust & Savings Bank, and Halsey, Stuart & Co., of Chicago, offer for subscription
$50,000,000
Belgian Government
Twenty-five Year External Gold Loan
7Wfo Sinking Fund Redeemable Bonds
at
To Be Redeemed
at
97/4% and interest
115% by Annual Drawings at the Rate of at least $2,000,000
Annually
Principal, Premium,^and Interest Payable in New York in United States Gold Coin
Coupon Bonds, $500 and $1,000
THE Belgian Government promises to
A
pay annually to Sinking Fund Trustees in the City of New York, in United
States gold coin, not less than $2,300,000.
The Sinking Fund Trustees are to draw
by lot each year not less than $2,000,000
par value of these Bonds to be redeemed
on June 1st of each
year at 115%.
The
Government has the right to increase the
amount of payments to the Sinking Fund
Trustees for the drawing of Bonds at
115%.
By operation of the Sinking
Fund, the entire issue is to be retired by
maturity at 115% of the principal sum. The
Government
also
this present
Belgium is furnishing a most remarkable
example of the re-establishment of industry and economic life. Belgian Government Bonds have enjoyed a high investment rating.
For example, her 3%
Perpetual Bonds sold from 1901 to 1907
to yield not over 3.15%; from 1908
to 1912 to yield not over 4%; and at the
present time are selling in Brussels to
yield under 5%.
The
following table shows the yield
which the Bonds of the present issue
will return on the purchase price of
97 l/i%, according to the year in which
they are drawn for the Sinking Fund:
that if in
the future it shall issue by public subscription any loan with a lien on any specific revenue or asset of the Kingdom,
Year Called
agrees
Year Called
Yield
loan shall be secured ratably
with such other loan,
.
Yield
Year Called
Yield
1929.......9,07%
1938.......8,17%
1922
.15.82
1930.... __8.88
1939..
1923
.12.89
1931... __8.73
1940.... __8.09
1921
24.89%
.
1932.... __8.61
.10.58
1941.... __8.06
1933
1924... .11.44
1925
__8.13
__8.51
1942.......8.03
1926
.10.01
1934
__8.42
1943..
1927.
__9.60
1935
__8.35
1944..__ ..7.97
1928
__9.30
1936..
...8.28
1945.___ ..7.95
...8.00
1937.......8.22
SUBSCRIPTION BOOKS will be opened at the offices of J. P. Morgan & Co. and Guaranty Trust
Company of New York, fiscal agents of the Belgian Government, at 10 o'clock, A. M., Wednesday,
and will be closed in their discretion.
The right is reserved to reject any and all appli¬
cations, and also, in any event, to award a smaller amount than applied for.
June 2, 1920,
Amounts due
to their
allotment.
I
For
on
allotments will be payable at the office of J. P. Morgan & Co., in New York funds
order, and the date of payment (on or about June 18, 1920) will be stated in the
Trust Receipts
notices of
will be delivered pending the preparation of the definitive Bonds.
full details regarding this issue reference is made to a circular which may be had on application.
June 2, 1920.
As all of the above bonds have been
sold, this advertisement
appears
only
as a
matter of record.
[Vol. 110.
THE CHRONICLE
rrr
^ttuuial
We offer
to
institutions and
list of government,
tion bonds which
for
our
own
investors
municipal, railroad and
we
a
broad
corpora¬
have investigated and purchased
Upon request
account.
we
shall be
gladtomakeofferingstosuit individual requirements.
As members of the New York and
Stock
Exchanges
We finance
ed
on a
on
commission.
conservative basis well establish¬
corporations which need additional funds for
the extension of plant or
We
orders
we execute
Pittsburgh
also
act
as
33
fiscal
Wires to
agents
Pine Street
Union Arcade
Private
increased working capital.
Bldg.
for
corporations.
-
New York
-
Pittsburgh
Philadelphia, Pittsburgh, Providence, Hartford and Boston
4.
@FedFRASER